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, 5th Floor, West Conshohocken, PA 19428
(Address of principal executive offices) (Zip code)
Citi Fund Services Ohio, Inc., 4400 Easton Commons, Suite 200, 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, 2017
Table of Contents
Item 1. | Reports to Stockholders. |
Table of Contents
Semiannual Report (Unaudited)
The Value Equity Portfolio
The Institutional Value Equity Portfolio
The Growth Equity Portfolio
The Institutional Growth Equity Portfolio
The Small Capitalization–Mid Capitalization Equity Portfolio
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
The Real Estate Securities Portfolio
The Commodity Returns Strategy Portfolio
The ESG Growth Portfolio
The Catholic SRI Growth Portfolio
The International Equity Portfolio
The Institutional International Equity Portfolio
The Emerging Markets Portfolio
The Core Fixed Income Portfolio
The Fixed Income Opportunity Portfolio
The U.S. Government Fixed Income Securities Portfolio
The Inflation Protected Securities Portfolio
The U.S. Corporate Fixed Income Securities Portfolio
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
The Short-Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond II Portfolio
December 31, 2017
Table of Contents
December 31, 2017 (Unaudited)
We are pleased to present the December 31, 2017 Semiannual Report for the HC Capital Trust (the “Trust”).
The Trust is an open-end management investment company. As of December 31, 2017, the Trust consisted of twenty-two separate investment portfolios (the “Portfolios”). Day-to-day portfolio management services are provided to each of the Trust’s Portfolios by one or more independent money management organizations (“Specialist Managers”). Each Specialist Manager is subject to the supervision of HC Capital Solutions, an operating division of Hirtle Callaghan & Co., LLC, which serves as the Trust’s primary investment adviser and to the general oversight of the Trust’s Board of Trustees.
The Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Institutional Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Institutional Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Small Capitalization–Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small and mid-capitalization companies.
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small and mid-capitalization companies.
The Real Estate Securities Portfolio, seeks to provide a total return consisting of both capital appreciation and current income by managing securities issued by real-estate related companies.
The Commodity Returns Strategy Portfolio, presented as Consolidated, seeks capital appreciation by investing in a diversified portfolio of commodity-related instruments.
The ESG Growth Portfolio, seeks to maximize total return subject to emphasizing environmental, social and governance (“ESG”) focused investments.
The Catholic SRI Growth Portfolio, seeks to maximize total return integrating a range of social and moral concerns into its security selection process.
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, primarily through capital appreciation, by investing in a diversified portfolio of securities issued by companies domiciled, or doing a substantial portion of their business, in countries with a developing or emerging economy or securities market.
The Core Fixed Income Portfolio, seeks current income, consistent with the preservation of capital, by investing in a diversified portfolio of debt securities, including U.S. and non-U.S. government securities, corporate debt securities, and asset-backed issues.
The Fixed Income Opportunity Portfolio, seeks to achieve above-average total return by investing in high yield securities (commonly referred to as “junk bonds”).
The U.S. Government Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of U.S. Treasury and government related fixed income securities.
The Inflation Protected Securities Portfolio, seeks to provide inflation protection and income consistent with investment in inflation-indexed securities.
The U.S. Corporate Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of investment grade fixed income securities issued by U.S. corporations.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of publicly issued mortgage and asset backed securities.
The Short-Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax, consistent with preservation of capital, by investing primarily in securities issued by municipalities and related securities.
The Intermediate Term Municipal Bond Portfolio, seeks current income, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
The Intermediate Term Municipal Bond II Portfolio, seeks current income, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
Table of Contents
HC CAPITAL TRUST | Semiannual Report (Unaudited) |
December 31, 2017
1 | ||||
187 | ||||
193 | ||||
199 | ||||
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Table of Contents
HC CAPITAL TRUST
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 94.46% | ||||||||
Aerospace & Defense — 2.66% | ||||||||
2,371 | Arconic, Inc. | $ | 65 | |||||
863 | General Dynamics Corp. | 176 | ||||||
1,070 | Hexcel Corp. | 66 | ||||||
486 | Huntington Ingalls Industries, Inc. | 115 | ||||||
438 | L3 Technologies, Inc. | 87 | ||||||
6,711 | Lockheed Martin Corp. | 2,155 | ||||||
900 | Orbital ATK, Inc. | 118 | ||||||
32,806 | Raytheon Co. | 6,162 | ||||||
1,875 | Spirit Aerosystems Holdings, Inc., Class – A | 164 | ||||||
200 | Teledyne Technologies, Inc. (a) | 36 | ||||||
4,149 | Textron, Inc. | 235 | ||||||
12,970 | The Boeing Co. | 3,824 | ||||||
26,961 | United Technologies Corp. | 3,439 | ||||||
|
| |||||||
16,642 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.38% | ||||||||
3,715 | C.H. Robinson Worldwide, Inc. | 331 | ||||||
305 | Expeditors International of Washington, Inc. | 20 | ||||||
16,845 | United Parcel Service, Inc., Class – B | 2,007 | ||||||
200 | XPO Logistics, Inc. (a) | 18 | ||||||
|
| |||||||
2,376 | ||||||||
|
| |||||||
Airlines — 0.81% | ||||||||
1,053 | Alaska Air Group, Inc. | 77 | ||||||
1,426 | American Airlines Group, Inc. | 74 | ||||||
1,204 | Copa Holdings SA, Class – A | 161 | ||||||
30,285 | Delta Air Lines, Inc. | 1,696 | ||||||
124,420 | JetBlue Airways Corp. (a) | 2,781 | ||||||
923 | Spirit Airlines, Inc. (a) | 41 | ||||||
3,712 | United Continental Holdings, Inc. (a) | 250 | ||||||
|
| |||||||
5,080 | ||||||||
|
| |||||||
Auto Components — 1.11% | ||||||||
545 | Adient PLC | 43 | ||||||
1,070 | BorgWarner, Inc. | 55 | ||||||
585 | Gentex Corp. | 12 | ||||||
1,379 | Goodyear Tire & Rubber Co. | 45 | ||||||
13,397 | Lear Corp. | 2,366 | ||||||
76,724 | Magna International, Inc., ADR | 4,348 | ||||||
|
| |||||||
6,869 | ||||||||
|
| |||||||
Automobiles — 0.76% | ||||||||
156,027 | Ford Motor Co. | 1,949 | ||||||
56,917 | General Motors Co. | 2,333 | ||||||
9,489 | Harley-Davidson, Inc. | 483 | ||||||
|
| |||||||
4,765 | ||||||||
|
| |||||||
Banks — 9.48% | ||||||||
2,912 | Associated Banc-Corp. | 74 | ||||||
452,191 | Bank of America Corp. | 13,348 | ||||||
1,797 | Bank of Hawaii Corp. | 154 | ||||||
1,959 | Bank of the Ozarks, Inc. | 95 | ||||||
4,578 | BankUnited, Inc. | 186 | ||||||
38,314 | BB&T Corp. | 1,905 | ||||||
493 | BOK Financial Corp. | 46 | ||||||
3,638 | CIT Group, Inc. | 179 | ||||||
27,028 | Citigroup, Inc. | 2,011 | ||||||
9,955 | Citizens Financial Group, Inc. | 418 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) | ||||||||
49,550 | Comerica, Inc. | $ | 4,301 | |||||
516 | Commerce Bancshares, Inc. | 29 | ||||||
2,501 | Cullen/Frost Bankers, Inc. | 237 | ||||||
2,742 | East West Bancorp, Inc. | 167 | ||||||
35,115 | Fifth Third Bancorp | 1,065 | ||||||
2,438 | First Hawaiian, Inc. | 71 | ||||||
4,900 | First Horizon National Corp. | 98 | ||||||
169 | First Republic Bank | 15 | ||||||
14,251 | FNB Corp. | 197 | ||||||
34,737 | Huntington Bancshares, Inc. | 506 | ||||||
57,216 | JPMorgan Chase & Co. | 6,119 | ||||||
21,384 | KeyCorp | 431 | ||||||
2,821 | M&T Bank Corp. | 482 | ||||||
5,393 | PacWest Bancorp | 272 | ||||||
15,071 | People’s United Financial, Inc. | 282 | ||||||
268 | Pinnacle Financial Partners, Inc. | 18 | ||||||
22,722 | PNC Financial Services Group, Inc. | 3,279 | ||||||
7,414 | Popular, Inc. | 263 | ||||||
1,261 | Prosperity Bancshares, Inc. | 88 | ||||||
61,433 | Regions Financial Corp. | 1,062 | ||||||
864 | Signature Bank (a) | 119 | ||||||
24,701 | SunTrust Banks, Inc. | 1,595 | ||||||
809 | SVB Financial Group (a) | 189 | ||||||
660 | Synovus Financial Corp. | 32 | ||||||
3,213 | TCF Financial Corp. | 66 | ||||||
66,929 | U.S. Bancorp | 3,586 | ||||||
545 | Webster Financial Corp. | 31 | ||||||
265,274 | Wells Fargo & Co. | 16,093 | ||||||
1,588 | Western Alliance Bancorp (a) | 90 | ||||||
3,966 | Zions Bancorporation | 202 | ||||||
|
| |||||||
59,401 | ||||||||
|
| |||||||
Beverages — 1.82% | ||||||||
22 | Brown-Forman Corp., Class – A | 1 | ||||||
2,089 | Brown-Forman Corp., Class – B | 143 | ||||||
6,831 | Dr. Pepper Snapple Group, Inc. | 663 | ||||||
972 | Molson Coors Brewing Co., Class – B | 80 | ||||||
4,722 | Monster Beverage Corp. (a) | 299 | ||||||
60,507 | PepsiCo, Inc. | 7,256 | ||||||
64,879 | The Coca-Cola Co. | 2,977 | ||||||
|
| |||||||
11,419 | ||||||||
|
| |||||||
Biotechnology — 2.84% | ||||||||
59,771 | AbbVie, Inc. | 5,780 | ||||||
52 | Agios Pharmaceuticals, Inc. (a) | 3 | ||||||
2,463 | Alexion Pharmaceuticals, Inc. (a) | 295 | ||||||
75 | Alnylam Pharmaceuticals, Inc. (a) | 10 | ||||||
20,749 | Amgen, Inc. | 3,608 | ||||||
2,164 | Biogen Idec, Inc. (a) | 689 | ||||||
1,097 | Bioverativ, Inc. (a) | 59 | ||||||
96,558 | Gilead Sciences, Inc. | 6,918 | ||||||
77 | Intrexon Corp. (a) | 1 | ||||||
380 | Juno Therapeutics, Inc. (a) | 17 | ||||||
1,580 | OPKO Health, Inc. (a) | 8 | ||||||
825 | Regeneron Pharmaceuticals, Inc. (a) | 310 | ||||||
687 | United Therapeutics Corp. (a) | 102 | ||||||
|
| |||||||
17,800 | ||||||||
|
|
See accompanying notes to financial statements.
1
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Building Products — 0.24% | ||||||||
1,562 | Fortune Brands Home & Security, Inc. | $ | 107 | |||||
30,167 | Johnson Controls International PLC | 1,151 | ||||||
16 | Lennox International, Inc. | 3 | ||||||
613 | Masco Corp. | 27 | ||||||
1,713 | Owens Corning, Inc. | 157 | ||||||
1,360 | USG Corp. (a) | 52 | ||||||
|
| |||||||
1,497 | ||||||||
|
| |||||||
Capital Markets — 2.28% | ||||||||
316 | Affiliated Managers Group, Inc. | 65 | ||||||
4,845 | Ameriprise Financial, Inc. | 821 | ||||||
6,440 | BGC Partners, Inc., Class – A | 97 | ||||||
3,534 | BlackRock, Inc., Class – A | 1,815 | ||||||
1,894 | CME Group, Inc. | 277 | ||||||
1,544 | E*Trade Financial Corp. (a) | 77 | ||||||
2,960 | Eaton Vance Corp. | 167 | ||||||
3,844 | Federated Investors, Inc., Class – B | 139 | ||||||
6,182 | Franklin Resources, Inc. | 268 | ||||||
22,600 | Goldman Sachs Group, Inc. | 5,758 | ||||||
427 | Interactive Brokers Group, Inc., Class – A | 25 | ||||||
1,698 | IntercontinentalExchange Group, Inc. | 120 | ||||||
17,533 | Invesco Ltd. | 640 | ||||||
4,815 | Lazard Ltd., Class – A | 253 | ||||||
4,137 | Legg Mason, Inc. | 174 | ||||||
23,458 | Morgan Stanley | 1,231 | ||||||
3,826 | Northern Trust Corp. | 382 | ||||||
539 | Raymond James Financial, Inc. | 48 | ||||||
6,816 | State Street Corp. | 665 | ||||||
11,258 | T. Rowe Price Group, Inc. | 1,181 | ||||||
162 | TD Ameritrade Holding Corp. | 8 | ||||||
1,370 | The Charles Schwab Corp. | 70 | ||||||
629 | The NASDAQ OMX Group, Inc. | 48 | ||||||
|
| |||||||
14,329 | ||||||||
|
| |||||||
Chemicals — 1.99% | ||||||||
9,284 | Air Products & Chemicals, Inc. | 1,523 | ||||||
1,713 | Albemarle Corp. | 219 | ||||||
349 | Ashland Global Holdings, Inc. | 25 | ||||||
1,989 | Cabot Corp. | 123 | ||||||
1,834 | Celanese Corp., Series A | 196 | ||||||
64,689 | CF Industries Holdings, Inc. | 2,752 | ||||||
45,483 | DowDuPont, Inc. | 3,240 | ||||||
6,451 | Eastman Chemical Co. | 598 | ||||||
2,834 | Huntsman Corp. | 94 | ||||||
13,151 | LyondellBasell Industries N.V., Class – A | 1,451 | ||||||
4 | NewMarket Corp. | 2 | ||||||
5,172 | Olin Corp. | 184 | ||||||
703 | Platform Specialty Products Corp. (a) | 7 | ||||||
96 | PPG Industries, Inc. | 11 | ||||||
8,291 | Praxair, Inc. | 1,282 | ||||||
3,721 | RPM International, Inc. | 195 | ||||||
14,623 | The Mosaic Co. | 375 | ||||||
1,084 | The Scotts Miracle-Gro Co. | 116 | ||||||
1,125 | Valvoline, Inc. | 28 | ||||||
111 | Westlake Chemical Corp. | 12 | ||||||
|
| |||||||
12,433 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Commercial Services & Supplies — 0.24% | ||||||||
107 | Clean Harbors, Inc. (a) | $ | 6 | |||||
3,057 | Copart, Inc. (a) | 132 | ||||||
3,612 | KAR Auction Services, Inc. | 182 | ||||||
5,823 | Pitney Bowes, Inc. | 65 | ||||||
1,304 | Republic Services, Inc., Class – A | 88 | ||||||
1,681 | Stericycle, Inc. (a) | 114 | ||||||
10,507 | Waste Management, Inc. | 908 | ||||||
|
| |||||||
1,495 | ||||||||
|
| |||||||
Communications Equipment — 1.48% | ||||||||
974 | Arris International PLC (a) | 25 | ||||||
128,415 | Cisco Systems, Inc. | 4,917 | ||||||
506 | Commscope Holding, Inc. (a) | 19 | ||||||
259 | EchoStar Corp., Class – A (a) | 16 | ||||||
723 | F5 Networks, Inc. (a) | 95 | ||||||
515 | Harris Corp. | 73 | ||||||
6,194 | Juniper Networks, Inc. | 177 | ||||||
7,203 | Motorola Solutions, Inc. | 651 | ||||||
716,304 | Nokia Corp., ADR | 3,338 | ||||||
|
| |||||||
9,311 | ||||||||
|
| |||||||
Construction & Engineering — 0.07% | ||||||||
2,368 | AECOM Technology Corp. (a) | 88 | ||||||
2,198 | Fluor Corp. | 114 | ||||||
1,837 | Jacobs Engineering Group, Inc. | 120 | ||||||
2,036 | Quanta Services, Inc. (a) | 80 | ||||||
337 | Valmont Industries, Inc. | 56 | ||||||
|
| |||||||
458 | ||||||||
|
| |||||||
Construction Materials — 0.01% | ||||||||
486 | Eagle Materials, Inc., Class – A | 54 | ||||||
35 | Martin Marietta Materials, Inc. | 8 | ||||||
51 | Vulcan Materials Co. | 7 | ||||||
|
| |||||||
69 | ||||||||
|
| |||||||
Consumer Finance — 2.70% | ||||||||
8,489 | Ally Financial, Inc. | 248 | ||||||
13,020 | American Express Co. | 1,293 | ||||||
47,829 | Capital One Financial Corp. | 4,763 | ||||||
144 | Credit Acceptance Corp. (a) | 47 | ||||||
18,731 | Discover Financial Services | 1,441 | ||||||
12,996 | Navient Corp. | 173 | ||||||
64,488 | OneMain Holdings, Inc. (a) | 1,676 | ||||||
2,682 | Santander Consumer USA Holdings, Inc. | 50 | ||||||
7,983 | SLM Corp. (a) | 90 | ||||||
184,583 | Synchrony Financial | 7,126 | ||||||
|
| |||||||
16,907 | ||||||||
|
| |||||||
Containers & Packaging — 0.35% | ||||||||
262 | AptarGroup, Inc. | 23 | ||||||
47 | Ardagh Group SA | 1 | ||||||
27 | Avery Dennison Corp. | 3 | ||||||
879 | Ball Corp. | 33 | ||||||
3,244 | Bemis Company, Inc. | 155 | ||||||
1,616 | Crown Holdings, Inc. (a) | 91 | ||||||
9,652 | Graphic Packaging Holding Co. | 149 | ||||||
10,876 | International Paper Co. | 630 | ||||||
188 | Owens-Illinois, Inc. (a) | 4 | ||||||
2,190 | Packaging Corporation of America | 264 |
See accompanying notes to financial statements.
2
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Containers & Packaging (continued) | ||||||||
510 | Sealed Air Corp. | $ | 25 | |||||
3,158 | Sonoco Products Co. | 168 | ||||||
10,740 | WestRock Co. | 679 | ||||||
|
| |||||||
2,225 | ||||||||
|
| |||||||
Distributors — 0.08% | ||||||||
4,373 | Genuine Parts Co. | 416 | ||||||
1,481 | LKQ Corp. (a) | 60 | ||||||
|
| |||||||
476 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.04% | ||||||||
56 | Graham Holdings Co. | 31 | ||||||
8,516 | H&R Block, Inc. | 224 | ||||||
|
| |||||||
255 | ||||||||
|
| |||||||
Diversified Financial Services — 0.53% | ||||||||
15,656 | Berkshire Hathaway, Inc., Class – B (a) | 3,104 | ||||||
5,489 | Leucadia National Corp. | 145 | ||||||
973 | Voya Financial, Inc. | 48 | ||||||
|
| |||||||
3,297 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 1.53% | ||||||||
123,767 | AT&T, Inc. | 4,812 | ||||||
18,681 | CenturyLink, Inc. | 312 | ||||||
82,393 | Verizon Communications, Inc. | 4,361 | ||||||
2,498 | Zayo Group Holdings, Inc. (a) | 92 | ||||||
|
| |||||||
9,577 | ||||||||
|
| |||||||
Electric Utilities — 2.65% | ||||||||
3,746 | Alliant Energy Corp. | 160 | ||||||
77,414 | American Electric Power, Inc. | 5,695 | ||||||
1,147 | Avangrid, Inc. | 58 | ||||||
15,759 | Duke Energy Corp. | 1,325 | ||||||
43,872 | Edison International | 2,774 | ||||||
3,900 | Entergy Corp. | 317 | ||||||
7,157 | Eversource Energy | 452 | ||||||
20,187 | Exelon Corp. | 796 | ||||||
7,683 | FirstEnergy Corp. | 235 | ||||||
4,720 | Great Plains Energy, Inc. | 152 | ||||||
2,079 | Hawaiian Electric Industries, Inc. | 75 | ||||||
10,179 | NextEra Energy, Inc. | 1,590 | ||||||
4,551 | OGE Energy Corp. | 150 | ||||||
10,745 | PG&E Corp. | 482 | ||||||
2,391 | Pinnacle West Capital Corp. | 204 | ||||||
11,166 | PPL Corp. | 346 | ||||||
23,083 | The Southern Co. | 1,110 | ||||||
2,531 | Westar Energy, Inc. | 134 | ||||||
11,003 | Xcel Energy, Inc. | 529 | ||||||
|
| |||||||
16,584 | ||||||||
|
| |||||||
Electrical Equipment — 0.94% | ||||||||
74 | Acuity Brands, Inc. | 13 | ||||||
3,350 | AMETEK, Inc. | 243 | ||||||
42,685 | Eaton Corp. PLC | 3,373 | ||||||
26,129 | Emerson Electric Co. | 1,821 | ||||||
3,246 | Hubbell, Inc. | 439 | ||||||
695 | Regal-Beloit Corp. | 53 | ||||||
446 | Sensata Technologies Holding N.V. (a) | 23 | ||||||
|
| |||||||
5,965 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components — 0.28% | ||||||||
1,464 | Arrow Electronics, Inc. (a) | $ | 118 | |||||
2,043 | Avnet, Inc. | 81 | ||||||
38,737 | Corning, Inc. | 1,238 | ||||||
962 | Dolby Laboratories, Inc., Class – A | 60 | ||||||
1,869 | FLIR Systems, Inc. | 87 | ||||||
974 | Jabil Circuit, Inc. | 26 | ||||||
3,059 | Keysight Technologies, Inc. (a) | 127 | ||||||
128 | National Instruments Corp. | 5 | ||||||
309 | Trimble Navigation Ltd. (a) | 13 | ||||||
|
| |||||||
1,755 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.47% | ||||||||
2,375 | Baker Hughes, Inc. | 75 | ||||||
1,586 | Halliburton Co. | 78 | ||||||
5,140 | Helmerich & Payne, Inc. | 332 | ||||||
9,071 | Nabors Industries Ltd. | 62 | ||||||
7,557 | National Oilwell Varco, Inc. | 272 | ||||||
4,451 | Oceaneering International, Inc. | 94 | ||||||
1,125 | Patterson-UTI Energy, Inc. | 26 | ||||||
167,331 | RPC, Inc.^ | 4,272 | ||||||
58,322 | Schlumberger Ltd. | 3,930 | ||||||
2,301 | Transocean Ltd. (a) | 25 | ||||||
4,900 | Weatherford International PLC (a) | 20 | ||||||
|
| |||||||
9,186 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 2.96% | ||||||||
1,848 | Alexandria Real Estate Equities, Inc. | 241 | ||||||
3,626 | American Campus Communities, Inc. | 149 | ||||||
2,471 | American Homes 4 Rent, Class – A | 54 | ||||||
3,294 | Apartment Investment & Management Co., | 144 | ||||||
5,081 | Apple Hospitality REIT, Inc. | 100 | ||||||
3,652 | AvalonBay Communities, Inc. | 652 | ||||||
3,570 | Boston Properties, Inc. | 464 | ||||||
2,928 | Brandywine Realty Trust | 53 | ||||||
7,288 | Brixmor Property Group, Inc. | 136 | ||||||
2,124 | Camden Property Trust | 196 | ||||||
9,228 | Colony Northstar, Inc. | 105 | ||||||
2,751 | Columbia Property Trust, Inc. | 63 | ||||||
2,782 | CoreCivic, Inc. | 63 | ||||||
487 | Coresite Realty Corp. | 55 | ||||||
2,152 | Corporate Office Properties Trust | 63 | ||||||
5,401 | Crown Castle International Corp. | 600 | ||||||
3,174 | CubeSmart | 92 | ||||||
1,325 | CyrusOne, Inc. | 79 | ||||||
1,596 | DCT Industrial Trust, Inc. | 94 | ||||||
6,728 | DDR Corp. | 60 | ||||||
2,965 | Digital Realty Trust, Inc. | 338 | ||||||
1,971 | Douglas Emmett, Inc. | 81 | ||||||
8,046 | Duke Realty Corp. | 219 | ||||||
1,294 | Empire State Realty Trust, Inc., Class – A | 27 | ||||||
1,707 | EPR Properties | 112 | ||||||
1,262 | Equity Commonwealth (a) | 39 | ||||||
1,237 | Equity Lifestyle Properties, Inc. | 110 | ||||||
8,810 | Equity Residential | 562 | ||||||
1,714 | Essex Property Trust, Inc. | 414 |
See accompanying notes to financial statements.
3
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Equity Real Estate Investment Trusts (continued) | ||||||||
1,828 | Extra Space Storage, Inc. | $ | 160 | |||||
1,829 | Federal Realty Investment Trust | 243 | ||||||
5,849 | Forest City Realty Trust, Inc., Class – A | 141 | ||||||
4,404 | Gaming & Leisure Properties, Inc. | 163 | ||||||
15,845 | GGP, Inc. | 371 | ||||||
12,020 | HCP, Inc. | 313 | ||||||
3,865 | Healthcare Trust of America, Inc., Class – A | 116 | ||||||
2,480 | Highwoods Properties, Inc. | 126 | ||||||
4,128 | Hospitality Properties Trust | 123 | ||||||
18,052 | Host Hotels & Resorts, Inc. | 358 | ||||||
3,775 | Hudson Pacific Property, Inc. | 129 | ||||||
2,065 | Invitation Homes, Inc. | 49 | ||||||
3,743 | Iron Mountain, Inc. | 141 | ||||||
468 | JBG Smith Properties | 16 | ||||||
2,357 | Kilroy Realty Corp. | 176 | ||||||
11,203 | Kimco Realty Corp. | 203 | ||||||
1,145 | Lamar Advertising Co., Class – A | 85 | ||||||
3,266 | Liberty Property Trust | 140 | ||||||
1,177 | Life Storage, Inc. | 105 | ||||||
8,699 | Medical Properties Trust, Inc. | 120 | ||||||
24,324 | Mid-America Apartment Communities, Inc. | 2,446 | ||||||
3,803 | National Retail Properties, Inc. | 164 | ||||||
5,409 | OMEGA Healthcare Investors, Inc. | 149 | ||||||
2,437 | Outfront Media, Inc. | 57 | ||||||
4,536 | Paramount Group, Inc. | 72 | ||||||
787 | Parks Hotels & Resorts, Inc. | 23 | ||||||
3,489 | Piedmont Office Realty Trust, Inc., Class – A | 68 | ||||||
11,973 | Prologis, Inc. | 772 | ||||||
2,258 | Public Storage | 472 | ||||||
2,924 | Rayonier, Inc. | 92 | ||||||
7,013 | Realty Income Corp. | 400 | ||||||
3,791 | Regency Centers Corp. | 262 | ||||||
5,916 | Retail Properties of America, Inc., Class – A | 80 | ||||||
5,709 | Senior Housing Properties Trust | 109 | ||||||
5,207 | Simon Property Group, Inc. | 894 | ||||||
2,452 | SL Green Realty Corp. | 247 | ||||||
13,541 | Spirit Realty Capital, Inc. | 116 | ||||||
4,272 | Store Capital Corp. | 111 | ||||||
1,859 | Sun Communities, Inc. | 172 | ||||||
2,256 | Tanger Factory Outlet Centers, Inc. | 60 | ||||||
1,004 | Taubman Centers, Inc. | 66 | ||||||
3,757 | The Macerich Co. | 247 | ||||||
6,693 | UDR, Inc. | 258 | ||||||
893 | Uniti Group, Inc. | 16 | ||||||
8,910 | Ventas, Inc. | 535 | ||||||
23,371 | VEREIT, Inc. | 182 | ||||||
4,297 | Vornado Realty Trust | 336 | ||||||
3,222 | Weingarten Realty Investors | 106 | ||||||
9,463 | Welltower, Inc. | 603 | ||||||
18,386 | Weyerhaeuser Co. | 648 | ||||||
2,561 | WP Carey, Inc. | 176 | ||||||
|
| |||||||
18,582 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.71% | ||||||||
209 | Casey’s General Stores, Inc. | 23 |
Shares | Security Description | Value (000) | ||||||
Food & Staples Retailing (continued) | ||||||||
38,659 | CVS Caremark Corp. | $ | 2,803 | |||||
3,010 | Rite Aid Corp. (a) | 6 | ||||||
12,459 | Sysco Corp. | 757 | ||||||
40,744 | The Kroger Co. | 1,118 | ||||||
1,201 | US Foods Holding Corp. (a) | 38 | ||||||
12,731 | Walgreens Boots Alliance, Inc. | 925 | ||||||
51,157 | Wal-Mart Stores, Inc. | 5,052 | ||||||
|
| |||||||
10,722 | ||||||||
|
| |||||||
Food Products — 3.12% | ||||||||
61,028 | Archer-Daniels-Midland Co. | 2,446 | ||||||
1,052 | Blue Buffalo Pet Products, Inc. (a) | 34 | ||||||
11,759 | Bunge Ltd. | 789 | ||||||
10,833 | Campbell Soup Co. | 521 | ||||||
18,040 | ConAgra Foods, Inc. | 680 | ||||||
7,820 | Flowers Foods, Inc. | 151 | ||||||
52,647 | General Mills, Inc. | 3,121 | ||||||
3,759 | Hershey Co. | 427 | ||||||
4,524 | Hormel Foods Corp. | 165 | ||||||
1,198 | Ingredion, Inc. | 167 | ||||||
13,300 | Kellogg Co. | 904 | ||||||
2,265 | Lamb Weston Holding, Inc. | 128 | ||||||
1,267 | McCormick & Company, Inc. | 129 | ||||||
45,463 | Mondelez International, Inc., Class – A | 1,946 | ||||||
653 | Pilgrim’s Pride Corp. (a) | 20 | ||||||
3,801 | Pinnacle Foods, Inc. | 226 | ||||||
380 | Post Holdings, Inc. (a) | 30 | ||||||
2 | Seaboard Corp. | 9 | ||||||
1,694 | The Hain Celestial Group, Inc. (a) | 72 | ||||||
8,055 | The J.M. Smucker Co. | 1,001 | ||||||
23,721 | The Kraft Heinz Co. | 1,845 | ||||||
213 | TreeHouse Foods, Inc. (a) | 11 | ||||||
57,728 | Tyson Foods, Inc., Class – A | 4,679 | ||||||
|
| |||||||
19,501 | ||||||||
|
| |||||||
Gas Utilities — 0.05% | ||||||||
1,746 | Atmos Energy Corp. | 149 | ||||||
1,796 | National Fuel Gas Co. | 99 | ||||||
974 | UGI Corp. | 46 | ||||||
|
| |||||||
294 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 0.78% | ||||||||
9,456 | Abbott Laboratories | 539 | ||||||
2,545 | Baxter International, Inc. | 165 | ||||||
3,444 | Danaher Corp. | 320 | ||||||
1,280 | Dentsply Sirona, Inc. | 84 | ||||||
25 | Hill-Rom Holdings, Inc. | 2 | ||||||
713 | Hologic, Inc. (a) | 30 | ||||||
41,481 | Medtronic PLC | 3,350 | ||||||
474 | STERIS PLC | 41 | ||||||
212 | Teleflex, Inc. | 53 | ||||||
59 | The Cooper Companies, Inc. | 13 | ||||||
1,365 | Varian Medical Systems, Inc. (a) | 152 | ||||||
1,140 | Zimmer Holdings, Inc. | 138 | ||||||
|
| |||||||
4,887 | ||||||||
|
| |||||||
Health Care Providers & Services — 3.28% | ||||||||
423 | Acadia Healthcare Company, Inc. (a) | 14 | ||||||
20,607 | Aetna, Inc. | 3,717 |
See accompanying notes to financial statements.
4
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services (continued) | ||||||||
1,441 | Anthem, Inc. | $ | 324 | |||||
1,050 | Brookdale Senior Living, Inc. (a) | 10 | ||||||
16,230 | Cardinal Health, Inc. | 994 | ||||||
3,454 | Centene Corp. (a) | 348 | ||||||
30,908 | CIGNA Corp. | 6,278 | ||||||
3,212 | DaVita Healthcare Partners, Inc. (a) | 232 | ||||||
661 | Envision Healthcare Corp. (a) | 23 | ||||||
12,010 | Express Scripts Holding Co. (a) | 896 | ||||||
1,525 | HCA Holdings, Inc. (a) | 134 | ||||||
2,222 | Humana, Inc. | 551 | ||||||
568 | Laboratory Corporation of America Holdings (a) | 91 | ||||||
728 | LifePoint Hospitals, Inc. (a) | 36 | ||||||
33,561 | McKesson Corp. | 5,235 | ||||||
1,844 | MEDNAX, Inc. (a) | 99 | ||||||
3,510 | Patterson Companies, Inc. | 127 | ||||||
188 | Premier, Inc., Class – A (a) | 5 | ||||||
763 | Quest Diagnostics, Inc. | 75 | ||||||
4,605 | UnitedHealth Group, Inc. | 1,015 | ||||||
1,772 | Universal Health Services, Inc., Class – B | 201 | ||||||
692 | WellCare Health Plans, Inc. (a) | 139 | ||||||
|
| |||||||
20,544 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.03% | ||||||||
779 | Aramark | 33 | ||||||
15,755 | Carnival Corp., Class – A | 1,046 | ||||||
4,216 | Darden Restaurants, Inc. | 405 | ||||||
2,530 | Dunkin’ Brands Group, Inc. | 163 | ||||||
6,718 | Extended Stay America, Inc. | 128 | ||||||
450 | Hilton Grand Vacations (a) | 19 | ||||||
148 | Hilton Worldwide Holdings, Inc. | 12 | ||||||
543 | Hyatt Hotels Corp., Class – A (a) | 40 | ||||||
3,413 | International Game Technology PLC | 90 | ||||||
10,038 | Las Vegas Sands Corp. | 697 | ||||||
17,083 | McDonald’s Corp. | 2,939 | ||||||
6,575 | MGM Resorts International | 220 | ||||||
1,067 | Norwegian Cruise Line Holdings Ltd. (a) | 57 | ||||||
952 | Royal Caribbean Cruises Ltd. | 114 | ||||||
1,766 | Six Flags Entertainment Corp. | 118 | ||||||
3,243 | Wyndham Worldwide Corp. | 376 | ||||||
269 | Yum China Holdings, Inc. | 11 | ||||||
|
| |||||||
6,468 | ||||||||
|
| |||||||
Household Durables — 0.39% | ||||||||
1,458 | CalAtlantic Group, Inc. | 82 | ||||||
5,774 | D.R. Horton, Inc. | 295 | ||||||
5,080 | Garmin Ltd. | 303 | ||||||
3,818 | Leggett & Platt, Inc. | 182 | ||||||
3,968 | Lennar Corp., Class – A | 251 | ||||||
76 | Lennar Corp., Class – B | 4 | ||||||
323 | Mohawk Industries, Inc. (a) | 89 | ||||||
14,734 | Newell Rubbermaid, Inc. | 455 | ||||||
5,321 | PulteGroup, Inc. | 177 | ||||||
152 | Tempur Sealy International, Inc. (a) | 10 | ||||||
2,585 | Toll Brothers, Inc. | 124 | ||||||
1,274 | Tupperware Brands Corp. | 80 | ||||||
2,447 | Whirlpool Corp. | 413 | ||||||
|
| |||||||
2,465 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Household Products — 1.63% | ||||||||
1,894 | Church & Dwight Co., Inc. | $ | 95 | |||||
34,667 | Colgate-Palmolive Co. | 2,616 | ||||||
2,011 | Energizer Holdings, Inc. | 96 | ||||||
18,568 | Kimberly-Clark Corp. | 2,240 | ||||||
189 | Spectrum Brands Holdings, Inc. | 21 | ||||||
4,750 | The Clorox Co. | 707 | ||||||
48,080 | The Procter & Gamble Co. | 4,418 | ||||||
|
| |||||||
10,193 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.04% |
| |||||||
3,836 | Calpine Corp. (a) | 58 | ||||||
1,358 | NRG Energy, Inc., Class – C | 39 | ||||||
11,410 | The AES Corp. | 123 | ||||||
1,293 | Vistra Energy Corp. (a) | 24 | ||||||
|
| |||||||
244 | ||||||||
|
| |||||||
Industrial Conglomerates — 1.13% | ||||||||
12,752 | 3M Co. | 3,001 | ||||||
968 | Carlisle Companies, Inc. | 110 | ||||||
173,961 | General Electric Co. | 3,036 | ||||||
6,118 | Honeywell International, Inc. | 938 | ||||||
41 | Roper Industries, Inc. | 11 | ||||||
|
| |||||||
7,096 | ||||||||
|
| |||||||
Insurance — 5.81% | ||||||||
18,940 | Aflac, Inc. | 1,663 | ||||||
83 | Alleghany Corp. (a) | 49 | ||||||
59,115 | Allstate Corp. | 6,190 | ||||||
385 | American Financial Group, Inc. | 42 | ||||||
122,710 | American International Group, Inc. | 7,312 | ||||||
42 | American National Insurance Co. | 5 | ||||||
606 | Arch Capital Group Ltd. (a) | 55 | ||||||
4,114 | Arthur J. Gallagher & Co. | 260 | ||||||
1,116 | Aspen Insurance Holdings Ltd. | 45 | ||||||
4,339 | Assurant, Inc. | 438 | ||||||
2,448 | Assured Guaranty Ltd. | 83 | ||||||
1,275 | Athene Holding, Ltd. (a) | 66 | ||||||
6,249 | AXIS Capital Holdings Ltd. | 314 | ||||||
459 | Brighthouse Financial, Inc. (a) | 27 | ||||||
672 | Brown & Brown, Inc. | 35 | ||||||
2,599 | Chubb Ltd. | 379 | ||||||
4,565 | Cincinnati Financial Corp. | 342 | ||||||
876 | CNA Financial Corp. | 46 | ||||||
666 | Erie Indemnity Co., Class – A | 81 | ||||||
6,967 | Everest Re Group Ltd. | 1,543 | ||||||
49,017 | First American Financial Corp. | 2,747 | ||||||
134,042 | FNF Group | 5,260 | ||||||
239 | Hanover Insurance Group, Inc. | 26 | ||||||
2,047 | Hartford Financial Services Group, Inc. | 115 | ||||||
4,612 | Lincoln National Corp. | 355 | ||||||
5,729 | Loews Corp. | 287 | ||||||
76 | Markel Corp. (a) | 87 | ||||||
915 | Mercury General Corp. | 49 | ||||||
31,241 | MetLife, Inc. | 1,580 | ||||||
11,315 | Old Republic International Corp. | 242 | ||||||
9,498 | Principal Financial Group, Inc. | 670 | ||||||
1,758 | ProAssurance Corp. | 100 |
See accompanying notes to financial statements.
5
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Insurance (continued) | ||||||||
21,451 | Prudential Financial, Inc. | $ | 2,466 | |||||
1,321 | Reinsurance Group of America | 206 | ||||||
796 | RenaissanceRe Holdings Ltd. | 100 | ||||||
14,574 | The Travelers Companies, Inc. | 1,977 | ||||||
643 | Torchmark Corp. | 58 | ||||||
4,670 | Unum Group | 256 | ||||||
4,777 | Validus Holdings Ltd. | 224 | ||||||
1,938 | W.R. Berkley Corp. | 139 | ||||||
24 | White Mountains Insurance Group Ltd. | 20 | ||||||
707 | Willis Towers Watson PLC | 107 | ||||||
11,674 | XL Group Ltd. | 410 | ||||||
|
| |||||||
36,456 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.02% | ||||||||
306 | Liberty Expedia Holdings, Class – A (a) | 14 | ||||||
991 | Liberty Interactive Corp., QVC Group (a) | 24 | ||||||
1,448 | Liberty Ventures, Class – A (a) | 78 | ||||||
312 | TripAdvisor, Inc. (a) | 11 | ||||||
|
| |||||||
127 | ||||||||
|
| |||||||
Internet Software & Services — 0.13% | ||||||||
2,503 | Akamai Technologies, Inc. (a) | 163 | ||||||
15,148 | eBay, Inc. (a) | 571 | ||||||
104 | LogMeln, Inc. | 12 | ||||||
3,517 | Twitter, Inc. (a) | 84 | ||||||
93 | Zillow Group, Inc., Class – A (a) | 4 | ||||||
185 | Zillow Group, Inc., Class – C (a) | 8 | ||||||
|
| |||||||
842 | ||||||||
|
| |||||||
IT Services — 1.53% | ||||||||
4,281 | Accenture PLC, Class – A | 655 | ||||||
792 | Amdocs Ltd. | 52 | ||||||
11,216 | Automatic Data Processing, Inc. | 1,314 | ||||||
2,057 | Black Knight, Inc. (a) | 91 | ||||||
59,666 | Booz Allen Hamilton Holding Corp. | 2,275 | ||||||
5,467 | Cognizant Technology Solutions Corp. | 388 | ||||||
1,038 | Conduent, Inc. (a) | 17 | ||||||
210 | CoreLogic, Inc. (a) | 10 | ||||||
849 | DST Systems, Inc. | 53 | ||||||
793 | Fidelity National Information Services, Inc. | 75 | ||||||
19,954 | International Business Machines Corp. | 3,061 | ||||||
4,033 | Leidos Holdings, Inc. | 260 | ||||||
8,156 | Paychex, Inc. | 555 | ||||||
9,752 | Sabre Corp. | 200 | ||||||
692 | Teradata Corp. (a) | 27 | ||||||
29,120 | Western Union Co. | 554 | ||||||
43 | WEX, Inc. (a) | 6 | ||||||
|
| |||||||
9,593 | ||||||||
|
| |||||||
Leisure Products — 0.11% | ||||||||
94 | Brunswick Corp. | 5 | ||||||
3,143 | Hasbro, Inc. | 286 | ||||||
10,688 | Mattel, Inc. | 164 | ||||||
1,643 | Polaris Industries, Inc. | 204 | ||||||
|
| |||||||
659 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.19% | ||||||||
4,674 | Agilent Technologies, Inc. | 313 |
Shares | Security Description | Value (000) | ||||||
Life Sciences Tools & Services (continued) | ||||||||
114 | Bio-Rad Laboratories, Inc., Class – A (a) | $ | 27 | |||||
371 | Bio-Techne Corp. | 48 | ||||||
1,390 | Bruker Biosciences Corp. | 48 | ||||||
1,492 | Illumina, Inc. (a) | 327 | ||||||
337 | IQVIA Holdings, Inc. (a) | 33 | ||||||
485 | PerkinElmer, Inc. | 35 | ||||||
881 | Qiagen N.V. (a) | 27 | ||||||
1,224 | Thermo Electron Corp. | 232 | ||||||
771 | Waters Corp. (a) | 149 | ||||||
|
| |||||||
1,239 | ||||||||
|
| |||||||
Machinery — 1.53% | ||||||||
365 | AGCO Corp. | 26 | ||||||
15,586 | Caterpillar, Inc. | 2,456 | ||||||
1,343 | Colfax Corp. (a) | 53 | ||||||
789 | Crane Co. | 70 | ||||||
6,835 | Cummins, Inc. | 1,207 | ||||||
53 | Donaldson Company, Inc. | 3 | ||||||
5,296 | Dover Corp. | 535 | ||||||
805 | Flowserve Corp. | 34 | ||||||
3,248 | Fortive Corp. | 235 | ||||||
28 | IDEX Corp. | 4 | ||||||
700 | Ingersoll-Rand PLC | 62 | ||||||
1,362 | ITT, Inc. | 73 | ||||||
36,806 | Oshkosh Corp. | 3,344 | ||||||
5,312 | PACCAR, Inc. | 378 | ||||||
114 | Parker Hannifin Corp. | 23 | ||||||
5,507 | Pentair PLC | 389 | ||||||
849 | Snap-on, Inc. | 148 | ||||||
762 | Stanley Black & Decker, Inc. | 129 | ||||||
1,381 | Terex Corp. | 67 | ||||||
2,819 | The Timken Co. | 139 | ||||||
2,314 | Trinity Industries, Inc. | 87 | ||||||
499 | WABCO Holdings, Inc. (a) | 72 | ||||||
312 | Wabtec Corp. | 25 | ||||||
485 | Xylem, Inc. | 33 | ||||||
|
| |||||||
9,592 | ||||||||
|
| |||||||
Marine — 0.00% | ||||||||
298 | Kirby Corp. (a) | 20 | ||||||
|
| |||||||
Media — 2.56% | ||||||||
338 | Charter Communications, Inc., Class – A (a) | 114 | ||||||
4,958 | Cinemark Holdings, Inc. | 173 | ||||||
130,947 | Comcast Corp., Class – A | 5,244 | ||||||
3,068 | Discovery Communications, Inc., Class – A (a) | 69 | ||||||
4,263 | Discovery Communications, Inc., Class – C (a) | 90 | ||||||
3,263 | Dish Network Corp. (a) | 156 | ||||||
2,075 | John Wiley & Sons, Inc., Class – A | 136 | ||||||
474 | Liberty Broadband, Class – A (a) | 40 | ||||||
1,920 | Liberty Broadband, Class – C (a) | 164 | ||||||
133 | Liberty Media Group, Class – A (a) | 4 | ||||||
1,084 | Liberty Media Group, Class – C (a) | 37 | ||||||
485 | Liberty SiriusXM Group, Class – A (a) | 19 | ||||||
975 | Liberty SiriusXM Group, Class – C (a) | 39 | ||||||
844 | Lions Gate Entertainment Corp., Class – A (a) | 29 | ||||||
997 | Lions Gate Entertainment Corp., Class – B (a) | 31 | ||||||
703 | News Corp., Inc. | 12 |
See accompanying notes to financial statements.
6
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
7,307 | News Corp., Inc., Class – A | $ | 118 | |||||
11,966 | Omnicom Group, Inc. | 871 | ||||||
36,872 | Regal Entertainment Group, Class – A | 848 | ||||||
1,361 | Scripps Networks Interactive, Class – A | 116 | ||||||
20,195 | Sirius XM Holdings, Inc. | 108 | ||||||
4,208 | TEGNA, Inc. | 59 | ||||||
30,753 | The Interpublic Group of Companies, Inc. | 620 | ||||||
92 | The Madison Square Garden Co., Class – A (a) | 19 | ||||||
2,768 | The Walt Disney Co. | 298 | ||||||
4,332 | Time Warner, Inc. | 396 | ||||||
2,514 | Tribune Media Co. | 107 | ||||||
157,188 | Twenty-First Century Fox, Inc. | 5,429 | ||||||
2,328 | Twenty-First Century Fox, Inc. | 79 | ||||||
54 | Viacom, Inc., Class – A | 2 | ||||||
19,600 | Viacom, Inc., Class – B | 604 | ||||||
|
| |||||||
16,031 | ||||||||
|
| |||||||
Metals & Mining — 0.85% | ||||||||
64,624 | Alcoa Corp. (a) | 3,481 | ||||||
20,890 | Freeport-McMoRan Copper & Gold, Inc. (a) | 396 | ||||||
2,965 | Newmont Mining Corp. | 111 | ||||||
13,605 | Nucor Corp. | 865 | ||||||
3,133 | Reliance Steel & Aluminum Co. | 269 | ||||||
236 | Royal Gold, Inc. | 19 | ||||||
100 | Southern Copper Corp. | 5 | ||||||
3,634 | Steel Dynamics, Inc. | 157 | ||||||
1,705 | Tahoe Resources, Inc. | 8 | ||||||
942 | United States Steel Corp. | 33 | ||||||
|
| |||||||
5,344 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.22% | ||||||||
15,189 | AGNC Investment Corp. | 307 | ||||||
34,033 | Annaly Capital Management, Inc. | 404 | ||||||
3,469 | Chimera Investment Corp. | 64 | ||||||
425 | Granite Point Mortgage Trust, Inc. | 8 | ||||||
16,205 | MFA Financial, Inc. | 128 | ||||||
5,513 | New Residential Investment Corp. | 99 | ||||||
14,097 | Starwood Property Trust, Inc. | 301 | ||||||
3,226 | Two Harbors Investment Corp. | 52 | ||||||
|
| |||||||
1,363 | ||||||||
|
| |||||||
Multiline Retail — 0.79% | ||||||||
952 | Dollar General Corp. | 89 | ||||||
65 | Dollar Tree, Inc. (a) | 7 | ||||||
8,065 | Kohl’s Corp. | 437 | ||||||
26,895 | Macy’s, Inc. | 677 | ||||||
3,440 | Nordstrom, Inc. | 163 | ||||||
55,229 | Target Corp. | 3,604 | ||||||
|
| |||||||
4,977 | ||||||||
|
| |||||||
Multi-Utilities — 1.23% | ||||||||
3,676 | Ameren Corp. | 217 | ||||||
7,296 | CenterPoint Energy, Inc. | 207 | ||||||
4,744 | CMS Energy Corp. | 224 | ||||||
6,873 | Consolidated Edison, Inc. | 584 | ||||||
12,194 | Dominion Resources, Inc. | 988 | ||||||
2,831 | DTE Energy Co. | 310 |
Shares | Security Description | Value (000) | ||||||
Multi-Utilities (continued) | ||||||||
3,511 | MDU Resources Group, Inc. | $ | 94 | |||||
130,839 | NiSource, Inc. | 3,359 | ||||||
10,802 | Public Service Enterprise Group, Inc. | 556 | ||||||
3,322 | SCANA Corp. | 132 | ||||||
4,356 | Sempra Energy | 466 | ||||||
1,285 | Vectren Corp. | 84 | ||||||
7,196 | WEC Energy Group, Inc. | 478 | ||||||
|
| |||||||
7,699 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 8.50% | ||||||||
3,104 | Anadarko Petroleum Corp. | 166 | ||||||
7,340 | Andeavor | 839 | ||||||
3,964 | Antero Resources Corp. (a) | 75 | ||||||
14,653 | Apache Corp. | 619 | ||||||
7,383 | Cabot Oil & Gas Corp. | 211 | ||||||
97,330 | Canadian Natural Resources | 3,477 | ||||||
752 | Centennial Resources Development (a) | 15 | ||||||
434 | Cheniere Energy, Inc. (a) | 23 | ||||||
4,548 | Chesapeake Energy Corp. (a) | 18 | ||||||
41,024 | Chevron Corp. | 5,136 | ||||||
65 | Cimarex Energy Co. | 8 | ||||||
4,407 | CNX Resources Corp. (a) | 64 | ||||||
2,892 | Concho Resources, Inc. (a) | 434 | ||||||
49,824 | ConocoPhillips | 2,735 | ||||||
550 | CONSOL Energy, Inc. (a) | 22 | ||||||
1,476 | Continental Resources, Inc. (a) | 78 | ||||||
87,714 | Devon Energy Corp. | 3,631 | ||||||
1,827 | Diamondback Energy, Inc. (a) | 231 | ||||||
1,918 | Energen Corp. (a) | 110 | ||||||
61,714 | EOG Resources, Inc. | 6,661 | ||||||
3,679 | EQT Corp. | 209 | ||||||
2,376 | Extraction Oil & Gas, Inc. (a) | 34 | ||||||
68,206 | Exxon Mobil Corp. | 5,706 | ||||||
3,189 | Gulfport Energy Corp. (a) | 41 | ||||||
82,827 | Hess Corp. | 3,932 | ||||||
7,973 | HollyFrontier Corp. | 408 | ||||||
86,751 | Kinder Morgan, Inc. | 1,568 | ||||||
1,184 | Kosmos Energy Ltd. (a) | 8 | ||||||
16,981 | Marathon Oil Corp. | 287 | ||||||
109,357 | Marathon Petroleum Corp. | 7,216 | ||||||
7,445 | Murphy Oil Corp. | 231 | ||||||
9,477 | Noble Energy, Inc. | 276 | ||||||
24,946 | Occidental Petroleum Corp. | 1,838 | ||||||
11,315 | ONEOK, Inc. | 605 | ||||||
3,754 | Parsley Energy, Inc., Class – A (a) | 111 | ||||||
4,585 | PBF Energy, Inc., Class – A | 163 | ||||||
20,856 | Phillips 66 | 2,110 | ||||||
3,299 | Pioneer Natural Resources Co. | 570 | ||||||
1,345 | QEP Resources, Inc. (a) | 13 | ||||||
4,520 | Range Resources Corp. | 77 | ||||||
2,224 | RSP Permian, Inc. (a) | 90 | ||||||
2,278 | SM Energy Co. | 50 | ||||||
2,705 | Southwestern Energy Co. (a) | 15 | ||||||
6,858 | Targa Resources Corp. | 332 | ||||||
25,124 | The Williams Companies, Inc. | 766 | ||||||
22,250 | Valero Energy Corp. | 2,045 |
See accompanying notes to financial statements.
7
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
484 | Whiting Petroleum Corp. (a) | $ | 13 | |||||
1,399 | World Fuel Services Corp. | 39 | ||||||
2,148 | WPX Energy, Inc. (a) | 30 | ||||||
|
| |||||||
53,336 | ||||||||
|
| |||||||
Paper & Forest Products — 0.02% | ||||||||
2,704 | Domtar Corp. | 134 | ||||||
|
| |||||||
Personal Products — 0.15% | ||||||||
23,783 | Coty, Inc., Class – A | 473 | ||||||
746 | Edgewell Personal Care Co. (a) | 44 | ||||||
524 | Herbalife Ltd. (a) | 35 | ||||||
2,186 | Nu Skin Enterprises, Inc., Class – A | 149 | ||||||
1,695 | The Estee Lauder Companies, Inc., Class – A | 216 | ||||||
|
| |||||||
917 | ||||||||
|
| |||||||
Pharmaceuticals — 3.49% | ||||||||
929 | Akorn, Inc. (a) | 30 | ||||||
1,878 | Allergan PLC | 307 | ||||||
57,288 | Bristol-Myers Squibb Co. | 3,511 | ||||||
21,974 | Eli Lilly & Co. | 1,856 | ||||||
1,345 | ENDO International PLC (a) | 10 | ||||||
37,981 | Johnson & Johnson | 5,306 | ||||||
1,541 | Mallinckrodt PLC (a) | 35 | ||||||
65,817 | Merck & Co., Inc. | 3,704 | ||||||
8,355 | Mylan N.V. (a) | 354 | ||||||
737 | Perrigo Co. PLC | 64 | ||||||
126,431 | Pfizer, Inc. | 4,579 | ||||||
113,000 | Teva Pharmaceutical Industries Ltd., ADR | 2,141 | ||||||
|
| |||||||
21,897 | ||||||||
|
| |||||||
Professional Services — 0.13% | ||||||||
950 | IHS Markit Ltd. (a) | 43 | ||||||
1,359 | ManpowerGroup, Inc. | 171 | ||||||
11,953 | Nielsen Holdings PLC | 435 | ||||||
1,826 | Robert Half International, Inc. | 101 | ||||||
123 | The Dun & Bradstreet Corp. | 15 | ||||||
|
| |||||||
765 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.04% | ||||||||
2,410 | CBRE Group, Inc., Class – A (a) | 104 | ||||||
364 | Howard Hughes Corp. (a) | 48 | ||||||
466 | Jones Lang LaSalle, Inc. | 69 | ||||||
1,460 | Realogy Holdings Corp. | 39 | ||||||
|
| |||||||
260 | ||||||||
|
| |||||||
Road & Rail — 0.65% | ||||||||
27 | AMERCO, Inc. | 10 | ||||||
539 | CSX Corp. | 30 | ||||||
798 | Genesee & Wyoming, Inc., Class – A (a) | 63 | ||||||
595 | Kansas City Southern | 63 | ||||||
3,885 | Norfolk Southern Corp. | 563 | ||||||
128 | Old Dominion Freight Line, Inc. | 17 | ||||||
2,234 | Ryder System, Inc. | 188 | ||||||
23,513 | Union Pacific Corp. | 3,152 | ||||||
|
| |||||||
4,086 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 3.51% | ||||||||
8,148 | Analog Devices, Inc. | 725 | ||||||
9,857 | Cypress Semiconductor Corp. | 150 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
474 | First Solar, Inc. (a) | $ | 32 | |||||
255,890 | Intel Corp. | 11,812 | ||||||
3,302 | KLA-Tencor Corp. | 347 | ||||||
1,782 | Lam Research Corp. | 328 | ||||||
2,191 | Marvell Technology Group Ltd. | 47 | ||||||
6,775 | Maxim Integrated Products, Inc. | 354 | ||||||
1,474 | Micron Technology, Inc. (a) | 61 | ||||||
117 | Microsemi Corp. (a) | 6 | ||||||
838 | NXP Semiconductors N.V. (a) | 98 | ||||||
321 | ON Semiconductor Corp. (a) | 7 | ||||||
367 | Qorvo, Inc. (a) | 24 | ||||||
71,996 | Qualcomm, Inc. | 4,609 | ||||||
2,025 | Skyworks Solutions, Inc. | 192 | ||||||
2,281 | Teradyne, Inc. | 96 | ||||||
29,267 | Texas Instruments, Inc. | 3,057 | ||||||
531 | Versum Materials, Inc. | 20 | ||||||
115 | Xilinx, Inc. | 8 | ||||||
|
| |||||||
21,973 | ||||||||
|
| |||||||
Software — 2.24% | ||||||||
207 | Autodesk, Inc. (a) | 22 | ||||||
9,332 | CA, Inc. | 311 | ||||||
945 | FireEye, Inc. (a) | 13 | ||||||
242 | Guidewire Software, Inc. (a) | 18 | ||||||
35,931 | Microsoft Corp. | 3,074 | ||||||
1,541 | Nuance Communications, Inc. (a) | 25 | ||||||
219,805 | Oracle Corp. | 10,391 | ||||||
72 | SS&C Technologies Holdings, Inc. | 3 | ||||||
775 | Synopsys, Inc. (a) | 66 | ||||||
651 | VMware, Inc., Class – A (a) | 82 | ||||||
4,382 | Zynga, Inc. (a) | 18 | ||||||
|
| |||||||
14,023 | ||||||||
|
| |||||||
Specialty Retail — 1.46% | ||||||||
297 | Advance Auto Parts, Inc. | 30 | ||||||
346 | AutoNation, Inc. (a) | 18 | ||||||
22 | AutoZone, Inc. (a) | 16 | ||||||
6,499 | Bed Bath & Beyond, Inc. | 143 | ||||||
13,143 | Best Buy Co., Inc. | 900 | ||||||
172 | Burlington Stores, Inc. (a) | 21 | ||||||
3,715 | Dick’s Sporting Goods, Inc. | 107 | ||||||
7,568 | Foot Locker, Inc. | 355 | ||||||
28,793 | GameStop Corp., Class – A | 517 | ||||||
10,525 | Gap, Inc. | 358 | ||||||
7,723 | L Brands, Inc. | 465 | ||||||
97,766 | Michaels Companies, Inc. The (a) | 2,365 | ||||||
185 | Murphy USA, Inc. (a) | 15 | ||||||
1,244 | Penske Automotive Group, Inc. | 60 | ||||||
481 | Sally Beauty Holdings, Inc. (a) | 9 | ||||||
1,220 | Signet Jewelers Ltd. | 69 | ||||||
16,364 | The Home Depot, Inc. | 3,100 | ||||||
3,612 | Tiffany & Co. | 375 | ||||||
1,537 | Urban Outfitters, Inc. (a) | 54 | ||||||
2,950 | Williams-Sonoma, Inc. | 153 | ||||||
|
| |||||||
9,130 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 1.98% | ||||||||
4,458 | Apple, Inc. | 754 |
See accompanying notes to financial statements.
8
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Technology Hardware, Storage & Peripherals (continued) | ||||||||
9,195 | Hewlett Packard Enterprise Co. | $ | 132 | |||||
269,612 | HP, Inc. | 5,664 | ||||||
55,397 | NCR Corp. (a) | 1,883 | ||||||
3,300 | NetApp, Inc. | 183 | ||||||
9,252 | Western Digital Corp. | 736 | ||||||
104,830 | Xerox Corp. | 3,056 | ||||||
|
| |||||||
12,408 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.33% | ||||||||
11,491 | Hanesbrands, Inc. | 240 | ||||||
1,378 | Lululemon Athletica, Inc. (a) | 108 | ||||||
2,926 | Michael Kors Holdings Ltd. (a) | 184 | ||||||
433 | PVH Corp. | 59 | ||||||
2,533 | Ralph Lauren Corp. | 263 | ||||||
399 | Skechers USA, Inc., Class – A (a) | 15 | ||||||
8,449 | Tapestry, Inc. | 374 | ||||||
266 | Under Armour, Inc., Class – A (a) | 4 | ||||||
270 | Under Armour, Inc., Class – C (a) | 4 | ||||||
10,851 | V.F. Corp. | 803 | ||||||
|
| |||||||
2,054 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.04% | ||||||||
20,610 | New York Community Bancorp, Inc. | 268 | ||||||
342 | TFS Financial Corp. | 5 | ||||||
|
| |||||||
273 | ||||||||
|
| |||||||
Tobacco — 2.73% | ||||||||
52,518 | Altria Group, Inc. | 3,750 | ||||||
44,333 | British American Tobacco PLC, ADR | 2,970 | ||||||
98,476 | Philip Morris International, Inc. | 10,404 | ||||||
|
| |||||||
17,124 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.27% | ||||||||
1,434 | Air Lease Corp. | 69 | ||||||
7,380 | Fastenal Co. | 404 | ||||||
1,992 | HD Supply Holdings, Inc. (a) | 80 | ||||||
1,802 | MSC Industrial Direct Co., Inc., Class – A | 174 | ||||||
3,181 | W.W. Grainger, Inc. | 751 | ||||||
838 | Watsco, Inc. | 142 | ||||||
759 | WESCO International, Inc. (a) | 52 | ||||||
|
| |||||||
1,672 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.07% | ||||||||
6,891 | Macquarie Infrastructure Corp. | 442 | ||||||
|
| |||||||
Water Utilities — 0.03% | ||||||||
997 | American Water Works Co., Inc. | 91 | ||||||
3,061 | Aqua America, Inc. | 120 | ||||||
|
| |||||||
211 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.99% | ||||||||
3,509 | Sprint Nextel Corp. (a) | 21 | ||||||
4,592 | Telephone & Data Systems, Inc. | 128 | ||||||
94,709 | T-Mobile USA, Inc. (a) | 6,014 | ||||||
281 | U.S. Cellular Corp. (a) | 11 | ||||||
|
| |||||||
6,174 | ||||||||
|
| |||||||
Total Common Stocks | 591,988 | |||||||
|
|
Shares | Security Description | Value (000) | ||||||
Contingent Rights — 0.00% | ||||||||
Food & Staples Retailing — 0.00% | ||||||||
11,130 | Safeway, Inc. (Casa Ley)* (a) | $ | 11 | |||||
11,130 | Safeway, Inc. (PDC)* | — | ||||||
|
| |||||||
Total Contingent Rights | 11 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.00% | ||||||||
$ | 11 | U.S. Treasury Bill, 1.26%, 3/8/18 (b)(c) | 11 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 11 | |||||||
|
| |||||||
Time Deposit — 0.36% | ||||||||
2,242 | State Street Liquidity Management Control System Eurodollar Time Deposit, | 2,242 | ||||||
|
| |||||||
Total Time Deposit | 2,242 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 8.36% | ||||||||
729,652 | Dreyfus Treasury Prime Cash Management Fund, 1.11% (d) | 730 | ||||||
737,860 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 738 | ||||||
50,956,727 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 50,956 | ||||||
|
| |||||||
Total Mutual Funds | 52,424 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.11% | ||||||||
$ | 687 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $686,638 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $700,254)^^ | 687 | |||||
|
| |||||||
Total Repurchase Agreement | 687 | |||||||
|
| |||||||
Total Investments | 647,363 | |||||||
Liabilities in excess of | (20,590 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 626,773 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2017 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $1,399 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
9
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Value Equity Portfolio | Alliance Bernstein L.P. | Cadence Capital Management, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 34.81 | % | 48.43 | % | 11.22 | % | — | — | 94.46 | % | ||||||||||||||
Contingent Rights | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
U.S. Treasury Obligation | — | — | 0.00 | % | — | — | 0.00 | % | ||||||||||||||||
Time Deposit | 0.36 | % | — | — | — | — | 0.36 | % | ||||||||||||||||
Mutual Funds | 0.11 | % | 0.17 | % | 0.03 | % | 7.37 | % | 0.68 | % | 8.36 | % | ||||||||||||
Repurchase Agreement | 0.11 | % | — | — | — | — | 0.11 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.22 | % | 0.07 | % | 0.01 | % | -3.15 | % | 0.00 | % | -3.29 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 35.17 | % | 48.67 | % | 11.26 | % | 4.22 | % | 0.68 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
E-Mini S&P 500 Future | 162 | 3/16/18 | $ | 21,639 | $ | 21,676 | $ | 37 | ||||||||||
E-Mini S&P Midcap 400 Future | 53 | 3/16/18 | 10,092 | 10,083 | (9 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 31,731 | $ | 31,759 | $ | 28 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 37 | ||||||||||||||||
Total Unrealized Depreciation | (9 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 28 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
10
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 90.96% | ||||||||
Aerospace & Defense — 2.45% | ||||||||
3,763 | Arconic, Inc. | $ | 103 | |||||
1,348 | General Dynamics Corp. | 274 | ||||||
1,697 | Hexcel Corp. | 105 | ||||||
782 | Huntington Ingalls Industries, Inc. | 184 | ||||||
683 | L3 Technologies, Inc. | 135 | ||||||
7,539 | Lockheed Martin Corp. | 2,420 | ||||||
1,433 | Orbital ATK, Inc. | 188 | ||||||
48,912 | Raytheon Co. | 9,189 | ||||||
2,969 | Spirit Aerosystems Holdings, Inc., Class – A | 259 | ||||||
310 | Teledyne Technologies, Inc. (a) | 56 | ||||||
6,649 | Textron, Inc. | 376 | ||||||
15,700 | The Boeing Co. | 4,631 | ||||||
31,913 | United Technologies Corp. | 4,071 | ||||||
|
| |||||||
21,991 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.30% | ||||||||
4,138 | C.H. Robinson Worldwide, Inc. | 369 | ||||||
429 | Expeditors International of Washington, Inc. | 28 | ||||||
18,760 | United Parcel Service, Inc., Class – B | 2,234 | ||||||
280 | XPO Logistics, Inc. (a) | 26 | ||||||
|
| |||||||
2,657 | ||||||||
|
| |||||||
Airlines — 0.80% | ||||||||
1,683 | Alaska Air Group, Inc. | 124 | ||||||
2,173 | American Airlines Group, Inc. | 113 | ||||||
1,524 | Copa Holdings SA, Class – A | 204 | ||||||
38,020 | Delta Air Lines, Inc. | 2,129 | ||||||
184,714 | JetBlue Airways Corp. (a) | 4,127 | ||||||
1,523 | Spirit Airlines, Inc. (a) | 68 | ||||||
5,877 | United Continental Holdings, Inc. (a) | 396 | ||||||
|
| |||||||
7,161 | ||||||||
|
| |||||||
Auto Components — 1.31% | ||||||||
834 | Adient PLC | 66 | ||||||
1,676 | BorgWarner, Inc. | 86 | ||||||
811 | Gentex Corp. | 17 | ||||||
2,182 | Goodyear Tire & Rubber Co. | 71 | ||||||
21,510 | Lear Corp. | 3,799 | ||||||
134,187 | Magna International, Inc., ADR | 7,604 | ||||||
|
| |||||||
11,643 | ||||||||
|
| |||||||
Automobiles — 0.67% | ||||||||
199,192 | Ford Motor Co. | 2,488 | ||||||
71,948 | General Motors Co. | 2,950 | ||||||
10,681 | Harley-Davidson, Inc. | 543 | ||||||
|
| |||||||
5,981 | ||||||||
|
| |||||||
Banks — 9.56% | ||||||||
4,751 | Associated Banc-Corp. | 121 | ||||||
701,848 | Bank of America Corp. | 20,718 | ||||||
2,433 | Bank of Hawaii Corp. | 209 | ||||||
3,074 | Bank of the Ozarks, Inc. | 149 | ||||||
6,176 | BankUnited, Inc. | 251 | ||||||
50,394 | BB&T Corp. | 2,506 | ||||||
767 | BOK Financial Corp. | 71 | ||||||
5,735 | CIT Group, Inc. | 282 | ||||||
43,087 | Citigroup, Inc. | 3,206 | ||||||
15,954 | Citizens Financial Group, Inc. | 670 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) | ||||||||
73,016 | Comerica, Inc. | $ | 6,339 | |||||
836 | Commerce Bancshares, Inc. | 47 | ||||||
3,338 | Cullen/Frost Bankers, Inc. | 316 | ||||||
4,455 | East West Bancorp, Inc. | 271 | ||||||
46,245 | Fifth Third Bancorp | 1,403 | ||||||
3,252 | First Hawaiian, Inc. | 95 | ||||||
7,764 | First Horizon National Corp. | 155 | ||||||
288 | First Republic Bank | 25 | ||||||
19,113 | FNB Corp. | 264 | ||||||
41,480 | Huntington Bancshares, Inc. | 604 | ||||||
77,462 | JPMorgan Chase & Co. | 8,284 | ||||||
34,371 | KeyCorp | 693 | ||||||
4,518 | M&T Bank Corp. | 773 | ||||||
7,143 | PacWest Bancorp | 360 | ||||||
20,158 | People’s United Financial, Inc. | 377 | ||||||
435 | Pinnacle Financial Partners, Inc. | 29 | ||||||
29,867 | PNC Financial Services Group, Inc. | 4,310 | ||||||
9,276 | Popular, Inc. | 329 | ||||||
2,049 | Prosperity Bancshares, Inc. | 144 | ||||||
79,753 | Regions Financial Corp. | 1,378 | ||||||
1,407 | Signature Bank (a) | 193 | ||||||
32,171 | SunTrust Banks, Inc. | 2,078 | ||||||
1,311 | SVB Financial Group (a) | 306 | ||||||
1,053 | Synovus Financial Corp. | 50 | ||||||
5,224 | TCF Financial Corp. | 107 | ||||||
86,473 | U.S. Bancorp | 4,633 | ||||||
823 | Webster Financial Corp. | 46 | ||||||
384,309 | Wells Fargo & Co. | 23,315 | ||||||
2,528 | Western Alliance Bancorp (a) | 143 | ||||||
6,320 | Zions Bancorporation | 321 | ||||||
|
| |||||||
85,571 | ||||||||
|
| |||||||
Beverages — 1.64% | ||||||||
28 | Brown-Forman Corp., Class – A | 2 | ||||||
3,397 | Brown-Forman Corp., Class – B | 233 | ||||||
7,606 | Dr. Pepper Snapple Group, Inc. | 738 | ||||||
1,525 | Molson Coors Brewing Co., Class – B | 125 | ||||||
7,687 | Monster Beverage Corp. (a) | 487 | ||||||
81,043 | PepsiCo, Inc. | 9,719 | ||||||
74,717 | The Coca-Cola Co. | 3,428 | ||||||
|
| |||||||
14,732 | ||||||||
|
| |||||||
Biotechnology — 2.38% | ||||||||
47,629 | AbbVie, Inc. | 4,606 | ||||||
23 | Agios Pharmaceuticals, Inc. (a) | 1 | ||||||
3,997 | Alexion Pharmaceuticals, Inc. (a) | 478 | ||||||
103 | Alnylam Pharmaceuticals, Inc. (a) | 13 | ||||||
26,218 | Amgen, Inc. | 4,559 | ||||||
3,515 | Biogen Idec, Inc. (a) | 1,120 | ||||||
1,785 | Bioverativ, Inc. (a) | 96 | ||||||
136,513 | Gilead Sciences, Inc. | 9,781 | ||||||
104 | Intrexon Corp. (a) | 1 | ||||||
553 | Juno Therapeutics, Inc. (a) | 25 | ||||||
2,662 | OPKO Health, Inc. (a) | 13 | ||||||
1,341 | Regeneron Pharmaceuticals, Inc. (a) | 504 | ||||||
1,109 | United Therapeutics Corp. (a) | 164 | ||||||
|
| |||||||
21,361 | ||||||||
|
|
See accompanying notes to financial statements.
11
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Building Products — 0.21% | ||||||||
2,528 | Fortune Brands Home & Security, Inc. | $ | 173 | |||||
35,965 | Johnson Controls International PLC | 1,371 | ||||||
23 | Lennox International, Inc. | 5 | ||||||
988 | Masco Corp. | 43 | ||||||
2,761 | Owens Corning, Inc. | 254 | ||||||
2,104 | USG Corp. (a) | 81 | ||||||
|
| |||||||
1,927 | ||||||||
|
| |||||||
Capital Markets — 2.22% | ||||||||
488 | Affiliated Managers Group, Inc. | 100 | ||||||
5,433 | Ameriprise Financial, Inc. | 921 | ||||||
7,675 | BGC Partners, Inc., Class – A | 116 | ||||||
4,251 | BlackRock, Inc., Class – A | 2,184 | ||||||
2,969 | CME Group, Inc. | 434 | ||||||
2,378 | E*Trade Financial Corp. (a) | 118 | ||||||
3,300 | Eaton Vance Corp. | 186 | ||||||
5,124 | Federated Investors, Inc., Class – B | 185 | ||||||
9,915 | Franklin Resources, Inc. | 430 | ||||||
32,085 | Goldman Sachs Group, Inc. | 8,173 | ||||||
593 | Interactive Brokers Group, Inc., Class – A | 35 | ||||||
2,690 | IntercontinentalExchange Group, Inc. | 190 | ||||||
22,986 | Invesco Ltd. | 839 | ||||||
6,182 | Lazard Ltd., Class – A | 325 | ||||||
5,281 | Legg Mason, Inc. | 222 | ||||||
37,728 | Morgan Stanley | 1,980 | ||||||
6,176 | Northern Trust Corp. | 617 | ||||||
843 | Raymond James Financial, Inc. | 75 | ||||||
10,978 | State Street Corp. | 1,072 | ||||||
14,595 | T. Rowe Price Group, Inc. | 1,531 | ||||||
272 | TD Ameritrade Holding Corp. | 14 | ||||||
2,148 | The Charles Schwab Corp. | 110 | ||||||
1,008 | The NASDAQ OMX Group, Inc. | 77 | ||||||
|
| |||||||
19,934 | ||||||||
|
| |||||||
Chemicals — 1.81% | ||||||||
12,106 | Air Products & Chemicals, Inc. | 1,985 | ||||||
2,750 | Albemarle Corp. | 352 | ||||||
560 | Ashland Global Holdings, Inc. | 40 | ||||||
2,385 | Cabot Corp. | 147 | ||||||
2,919 | Celanese Corp., Series A | 313 | ||||||
98,109 | CF Industries Holdings, Inc. | 4,173 | ||||||
53,750 | DowDuPont, Inc. | 3,827 | ||||||
8,372 | Eastman Chemical Co. | 776 | ||||||
4,465 | Huntsman Corp. | 149 | ||||||
16,976 | LyondellBasell Industries N.V., Class – A | 1,873 | ||||||
5 | NewMarket Corp. | 2 | ||||||
6,173 | Olin Corp. | 220 | ||||||
981 | Platform Specialty Products Corp. (a) | 10 | ||||||
154 | PPG Industries, Inc. | 18 | ||||||
9,314 | Praxair, Inc. | 1,441 | ||||||
4,157 | RPM International, Inc. | 218 | ||||||
19,089 | The Mosaic Co. | 490 | ||||||
1,214 | The Scotts Miracle-Gro Co. | 130 | ||||||
1,841 | Valvoline, Inc. | 46 | ||||||
154 | Westlake Chemical Corp. | 16 | ||||||
|
| |||||||
16,226 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Commercial Services & Supplies — 0.21% | ||||||||
148 | Clean Harbors, Inc. (a) | $ | 8 | |||||
4,977 | Copart, Inc. (a) | 215 | ||||||
4,023 | KAR Auction Services, Inc. | 203 | ||||||
7,013 | Pitney Bowes, Inc. | 78 | ||||||
2,027 | Republic Services, Inc., Class – A | 137 | ||||||
2,656 | Stericycle, Inc. (a) | 181 | ||||||
11,872 | Waste Management, Inc. | 1,025 | ||||||
|
| |||||||
1,847 | ||||||||
|
| |||||||
Communications Equipment — 1.52% | ||||||||
1,598 | Arris International PLC (a) | 41 | ||||||
166,513 | Cisco Systems, Inc. | 6,377 | ||||||
844 | Commscope Holding, Inc. (a) | 32 | ||||||
435 | EchoStar Corp., Class – A (a) | 26 | ||||||
1,176 | F5 Networks, Inc. (a) | 154 | ||||||
772 | Harris Corp. | 109 | ||||||
9,987 | Juniper Networks, Inc. | 285 | ||||||
8,408 | Motorola Solutions, Inc. | 760 | ||||||
1,257,492 | Nokia Corp., ADR | 5,860 | ||||||
|
| |||||||
13,644 | ||||||||
|
| |||||||
Construction & Engineering — 0.08% | ||||||||
3,840 | AECOM Technology Corp. (a) | 143 | ||||||
3,545 | Fluor Corp. | 183 | ||||||
2,965 | Jacobs Engineering Group, Inc. | 195 | ||||||
3,340 | Quanta Services, Inc. (a) | 131 | ||||||
543 | Valmont Industries, Inc. | 90 | ||||||
|
| |||||||
742 | ||||||||
|
| |||||||
Construction Materials — 0.01% | ||||||||
790 | Eagle Materials, Inc., Class – A | 90 | ||||||
48 | Martin Marietta Materials, Inc. | 11 | ||||||
74 | Vulcan Materials Co. | 9 | ||||||
|
| |||||||
110 | ||||||||
|
| |||||||
Consumer Finance — 2.74% | ||||||||
13,523 | Ally Financial, Inc. | 394 | ||||||
20,854 | American Express Co. | 2,071 | ||||||
67,366 | Capital One Financial Corp. | 6,709 | ||||||
232 | Credit Acceptance Corp. (a) | 75 | ||||||
24,187 | Discover Financial Services | 1,860 | ||||||
16,744 | Navient Corp. | 223 | ||||||
83,435 | OneMain Holdings, Inc. (a) | 2,169 | ||||||
4,416 | Santander Consumer USA Holdings, Inc. | 82 | ||||||
12,955 | SLM Corp. (a) | 146 | ||||||
280,249 | Synchrony Financial | 10,821 | ||||||
|
| |||||||
24,550 | ||||||||
|
| |||||||
Containers & Packaging — 0.30% | ||||||||
425 | AptarGroup, Inc. | 37 | ||||||
63 | Ardagh Group SA | 1 | ||||||
41 | Avery Dennison Corp. | 5 | ||||||
1,392 | Ball Corp. | 53 | ||||||
3,878 | Bemis Company, Inc. | 185 | ||||||
2,613 | Crown Holdings, Inc. (a) | 147 | ||||||
10,857 | Graphic Packaging Holding Co. | 168 | ||||||
12,196 | International Paper Co. | 707 | ||||||
253 | Owens-Illinois, Inc. (a) | 6 | ||||||
2,439 | Packaging Corporation of America | 294 |
See accompanying notes to financial statements.
12
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Containers & Packaging (continued) | ||||||||
774 | Sealed Air Corp. | $ | 38 | |||||
3,804 | Sonoco Products Co. | 202 | ||||||
14,001 | WestRock Co. | 884 | ||||||
|
| |||||||
2,727 | ||||||||
|
| |||||||
Distributors — 0.06% | ||||||||
5,098 | Genuine Parts Co. | 484 | ||||||
2,324 | LKQ Corp. (a) | 95 | ||||||
|
| |||||||
579 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.04% | ||||||||
92 | Graham Holdings Co. | 51 | ||||||
10,775 | H&R Block, Inc. | 283 | ||||||
|
| |||||||
334 | ||||||||
|
| |||||||
Diversified Financial Services — 0.58% | ||||||||
24,788 | Berkshire Hathaway, Inc., Class – B (a) | 4,913 | ||||||
8,854 | Leucadia National Corp. | 235 | ||||||
1,500 | Voya Financial, Inc. | 74 | ||||||
|
| |||||||
5,222 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 1.41% | ||||||||
164,114 | AT&T, Inc. | 6,381 | ||||||
29,997 | CenturyLink, Inc. | 500 | ||||||
105,614 | Verizon Communications, Inc. | 5,590 | ||||||
4,066 | Zayo Group Holdings, Inc. (a) | 150 | ||||||
|
| |||||||
12,621 | ||||||||
|
| |||||||
Electric Utilities — 2.65% | ||||||||
4,767 | Alliant Energy Corp. | 203 | ||||||
111,548 | American Electric Power, Inc. | 8,208 | ||||||
1,647 | Avangrid, Inc. | 83 | ||||||
21,213 | Duke Energy Corp. | 1,784 | ||||||
66,883 | Edison International | 4,230 | ||||||
5,268 | Entergy Corp. | 429 | ||||||
9,662 | Eversource Energy | 610 | ||||||
27,379 | Exelon Corp. | 1,079 | ||||||
9,662 | FirstEnergy Corp. | 296 | ||||||
6,426 | Great Plains Energy, Inc. | 207 | ||||||
3,045 | Hawaiian Electric Industries, Inc. | 110 | ||||||
13,753 | NextEra Energy, Inc. | 2,148 | ||||||
6,143 | OGE Energy Corp. | 202 | ||||||
14,585 | PG&E Corp. | 654 | ||||||
3,237 | Pinnacle West Capital Corp. | 276 | ||||||
9,311 | Portland General Electric Co. | 424 | ||||||
14,199 | PPL Corp. | 439 | ||||||
30,852 | The Southern Co. | 1,484 | ||||||
3,195 | Westar Energy, Inc. | 169 | ||||||
14,888 | Xcel Energy, Inc. | 716 | ||||||
|
| |||||||
23,751 | ||||||||
|
| |||||||
Electrical Equipment — 0.88% | ||||||||
115 | Acuity Brands, Inc. | 20 | ||||||
5,371 | AMETEK, Inc. | 389 | ||||||
57,695 | Eaton Corp. PLC | 4,558 | ||||||
33,798 | Emerson Electric Co. | 2,356 | ||||||
3,648 | Hubbell, Inc. | 494 | ||||||
1,126 | Regal-Beloit Corp. | 86 | ||||||
741 | Sensata Technologies Holding N.V. (a) | 38 | ||||||
|
| |||||||
7,941 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components — 0.27% |
| |||||||
2,382 | Arrow Electronics, Inc. (a) | $ | 192 | |||||
3,305 | Avnet, Inc. | 131 | ||||||
50,407 | Corning, Inc. | 1,612 | ||||||
1,532 | Dolby Laboratories, Inc., Class – A | 95 | ||||||
2,951 | FLIR Systems, Inc. | 138 | ||||||
1,558 | Jabil Circuit, Inc. | 41 | ||||||
4,970 | Keysight Technologies, Inc. (a) | 206 | ||||||
173 | National Instruments Corp. | 7 | ||||||
468 | Trimble Navigation Ltd. (a) | 19 | ||||||
|
| |||||||
2,441 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.41% | ||||||||
3,753 | Baker Hughes, Inc. | 119 | ||||||
2,480 | Halliburton Co. | 121 | ||||||
6,725 | Helmerich & Payne, Inc. | 435 | ||||||
11,213 | Nabors Industries Ltd. | 77 | ||||||
12,140 | National Oilwell Varco, Inc. | 437 | ||||||
5,824 | Oceaneering International, Inc. | 123 | ||||||
1,879 | Patterson-UTI Energy, Inc. | 43 | ||||||
241,858 | RPC, Inc.^ | 6,175 | ||||||
74,761 | Schlumberger Ltd. | 5,038 | ||||||
3,558 | Transocean Ltd. (a) | 38 | ||||||
8,083 | Weatherford International PLC (a) | 34 | ||||||
|
| |||||||
12,640 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 2.69% | ||||||||
2,302 | Alexandria Real Estate Equities, Inc. | 301 | ||||||
4,776 | American Campus Communities, Inc. | 196 | ||||||
4,022 | American Homes 4 Rent, Class – A | 88 | ||||||
4,110 | Apartment Investment & Management Co., Class – A | 180 | ||||||
6,840 | Apple Hospitality REIT, Inc. | 134 | ||||||
4,777 | AvalonBay Communities, Inc. | 852 | ||||||
4,728 | Boston Properties, Inc. | 615 | ||||||
3,801 | Brandywine Realty Trust | 69 | ||||||
9,795 | Brixmor Property Group, Inc. | 183 | ||||||
2,828 | Camden Property Trust | 260 | ||||||
11,679 | Colony Northstar, Inc. | 133 | ||||||
3,572 | Columbia Property Trust, Inc. | 82 | ||||||
3,740 | CoreCivic, Inc. | 84 | ||||||
543 | Coresite Realty Corp. | 62 | ||||||
3,054 | Corporate Office Properties Trust | 89 | ||||||
6,014 | Crown Castle International Corp. | 668 | ||||||
3,697 | CubeSmart | 107 | ||||||
1,489 | CyrusOne, Inc. | 89 | ||||||
2,068 | DCT Industrial Trust, Inc. | 122 | ||||||
8,303 | DDR Corp. | 74 | ||||||
3,443 | Digital Realty Trust, Inc. | 392 | ||||||
2,254 | Douglas Emmett, Inc. | 93 | ||||||
10,825 | Duke Realty Corp. | 295 | ||||||
2,183 | Empire State Realty Trust, Inc., Class – A | 45 | ||||||
2,237 | EPR Properties | 146 | ||||||
2,082 | Equity Commonwealth (a) | 64 | ||||||
1,378 | Equity Lifestyle Properties, Inc. | 123 | ||||||
11,623 | Equity Residential | 741 | ||||||
2,252 | Essex Property Trust, Inc. | 544 | ||||||
2,092 | Extra Space Storage, Inc. | 183 |
See accompanying notes to financial statements.
13
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Equity Real Estate Investment Trusts (continued) | ||||||||
2,336 | Federal Realty Investment Trust | $ | 310 | |||||
7,795 | Forest City Realty Trust, Inc., Class – A | 188 | ||||||
5,684 | Gaming & Leisure Properties, Inc. | 210 | ||||||
20,857 | GGP, Inc. | 488 | ||||||
15,825 | HCP, Inc. | 413 | ||||||
4,824 | Healthcare Trust of America, Inc., Class – A | 145 | ||||||
3,259 | Highwoods Properties, Inc. | 166 | ||||||
5,461 | Hospitality Properties Trust | 163 | ||||||
23,792 | Host Hotels & Resorts, Inc. | 472 | ||||||
4,945 | Hudson Pacific Property, Inc. | 169 | ||||||
3,322 | Invitation Homes, Inc. | 78 | ||||||
4,290 | Iron Mountain, Inc. | 162 | ||||||
792 | JBG Smith Properties | 28 | ||||||
3,136 | Kilroy Realty Corp. | 234 | ||||||
14,719 | Kimco Realty Corp. | 267 | ||||||
1,284 | Lamar Advertising Co., Class – A | 95 | ||||||
4,399 | Liberty Property Trust | 189 | ||||||
1,541 | Life Storage, Inc. | 137 | ||||||
11,563 | Medical Properties Trust, Inc. | 159 | ||||||
33,995 | Mid-America Apartment Communities, Inc. | 3,418 | ||||||
5,030 | National Retail Properties, Inc. | 217 | ||||||
7,018 | OMEGA Healthcare Investors, Inc. | 193 | ||||||
3,204 | Outfront Media, Inc. | 74 | ||||||
6,104 | Paramount Group, Inc. | 97 | ||||||
1,290 | Parks Hotels & Resorts, Inc. | 37 | ||||||
4,694 | Piedmont Office Realty Trust, Inc., Class – A | 92 | ||||||
16,069 | Prologis, Inc. | 1,036 | ||||||
2,516 | Public Storage | 526 | ||||||
3,952 | Rayonier, Inc. | 125 | ||||||
9,250 | Realty Income Corp. | 527 | ||||||
4,994 | Regency Centers Corp. | 345 | ||||||
7,723 | Retail Properties of America, Inc., Class – A | 104 | ||||||
7,721 | Senior Housing Properties Trust | 148 | ||||||
5,879 | Simon Property Group, Inc. | 1,010 | ||||||
3,240 | SL Green Realty Corp. | 327 | ||||||
17,049 | Spirit Realty Capital, Inc. | 146 | ||||||
5,708 | Store Capital Corp. | 149 | ||||||
2,468 | Sun Communities, Inc. | 229 | ||||||
3,033 | Tanger Factory Outlet Centers, Inc. | 80 | ||||||
1,170 | Taubman Centers, Inc. | 77 | ||||||
4,922 | The Macerich Co. | 323 | ||||||
8,855 | UDR, Inc. | 341 | ||||||
1,522 | Uniti Group, Inc. | 27 | ||||||
11,774 | Ventas, Inc. | 707 | ||||||
31,118 | VEREIT, Inc. | 242 | ||||||
5,673 | Vornado Realty Trust | 444 | ||||||
4,253 | Weingarten Realty Investors | 140 | ||||||
12,431 | Welltower, Inc. | 793 | ||||||
24,321 | Weyerhaeuser Co. | 858 | ||||||
3,402 | WP Carey, Inc. | 234 | ||||||
|
| |||||||
24,153 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.51% | ||||||||
344 | Casey’s General Stores, Inc. | 39 | ||||||
45,570 | CVS Caremark Corp. | 3,304 |
Shares | Security Description | Value (000) | ||||||
Food & Staples Retailing (continued) | ||||||||
4,034 | Rite Aid Corp. (a) | $ | 8 | |||||
13,873 | Sysco Corp. | 843 | ||||||
51,924 | The Kroger Co. | 1,425 | ||||||
1,814 | US Foods Holding Corp. (a) | 58 | ||||||
20,453 | Walgreens Boots Alliance, Inc. | 1,485 | ||||||
65,038 | Wal-Mart Stores, Inc. | 6,422 | ||||||
|
| |||||||
13,584 | ||||||||
|
| |||||||
Food Products — 2.71% | ||||||||
72,557 | Archer-Daniels-Midland Co. | 2,908 | ||||||
1,712 | Blue Buffalo Pet Products, Inc. (a) | 56 | ||||||
14,281 | Bunge Ltd. | 958 | ||||||
13,273 | Campbell Soup Co. | 639 | ||||||
23,357 | ConAgra Foods, Inc. | 880 | ||||||
10,182 | Flowers Foods, Inc. | 197 | ||||||
59,052 | General Mills, Inc. | 3,501 | ||||||
4,228 | Hershey Co. | 480 | ||||||
7,287 | Hormel Foods Corp. | 265 | ||||||
1,925 | Ingredion, Inc. | 269 | ||||||
14,873 | Kellogg Co. | 1,011 | ||||||
3,598 | Lamb Weston Holding, Inc. | 203 | ||||||
2,062 | McCormick & Company, Inc. | 210 | ||||||
54,353 | Mondelez International, Inc., Class – A | 2,326 | ||||||
1,043 | Pilgrim’s Pride Corp. (a) | 32 | ||||||
4,556 | Pinnacle Foods, Inc. | 271 | ||||||
584 | Post Holdings, Inc. (a) | 46 | ||||||
2 | Seaboard Corp. | 9 | ||||||
2,718 | The Hain Celestial Group, Inc. (a) | 115 | ||||||
9,913 | The J.M. Smucker Co. | 1,232 | ||||||
27,954 | The Kraft Heinz Co. | 2,174 | ||||||
300 | TreeHouse Foods, Inc. (a) | 15 | ||||||
79,863 | Tyson Foods, Inc., Class – A | 6,475 | ||||||
|
| |||||||
24,272 | ||||||||
|
| |||||||
Gas Utilities — 0.04% | ||||||||
2,224 | Atmos Energy Corp. | 190 | ||||||
2,452 | National Fuel Gas Co. | 135 | ||||||
1,530 | UGI Corp. | 72 | ||||||
|
| |||||||
397 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 0.71% | ||||||||
14,803 | Abbott Laboratories | 844 | ||||||
3,969 | Baxter International, Inc. | 257 | ||||||
5,368 | Danaher Corp. | 498 | ||||||
1,983 | Dentsply Sirona, Inc. | 131 | ||||||
36 | Hill-Rom Holdings, Inc. | 3 | ||||||
1,075 | Hologic, Inc. (a) | 46 | ||||||
49,331 | Medtronic PLC | 3,983 | ||||||
742 | STERIS PLC | 65 | ||||||
333 | Teleflex, Inc. | 83 | ||||||
85 | The Cooper Companies, Inc. | 19 | ||||||
2,222 | Varian Medical Systems, Inc. (a) | 247 | ||||||
1,774 | Zimmer Holdings, Inc. | 214 | ||||||
|
| |||||||
6,390 | ||||||||
|
| |||||||
Health Care Providers & Services — 3.48% | ||||||||
729 | Acadia Healthcare Company, Inc. (a) | 24 | ||||||
30,394 | Aetna, Inc. | 5,482 | ||||||
2,251 | Anthem, Inc. | 506 |
See accompanying notes to financial statements.
14
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services (continued) | ||||||||
1,472 | Brookdale Senior Living, Inc. (a) | $ | 14 | |||||
18,863 | Cardinal Health, Inc. | 1,156 | ||||||
5,579 | Centene Corp. (a) | 563 | ||||||
46,343 | CIGNA Corp. | 9,411 | ||||||
5,147 | DaVita Healthcare Partners, Inc. (a) | 372 | ||||||
1,086 | Envision Healthcare Corp. (a) | 38 | ||||||
19,327 | Express Scripts Holding Co. (a) | 1,443 | ||||||
2,332 | HCA Holdings, Inc. (a) | 205 | ||||||
3,621 | Humana, Inc. | 898 | ||||||
900 | Laboratory Corporation of America Holdings (a) | 144 | ||||||
1,141 | LifePoint Hospitals, Inc. (a) | 57 | ||||||
52,612 | McKesson Corp. | 8,204 | ||||||
2,972 | MEDNAX, Inc. (a) | 159 | ||||||
4,125 | Patterson Companies, Inc. | 149 | ||||||
360 | Premier, Inc., Class – A (a) | 11 | ||||||
1,204 | Quest Diagnostics, Inc. | 119 | ||||||
7,500 | UnitedHealth Group, Inc. | 1,653 | ||||||
2,850 | Universal Health Services, Inc., Class – B | 323 | ||||||
1,124 | WellCare Health Plans, Inc. (a) | 226 | ||||||
|
| |||||||
31,157 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 0.86% | ||||||||
1,243 | Aramark | 53 | ||||||
20,177 | Carnival Corp., Class – A | 1,339 | ||||||
5,182 | Darden Restaurants, Inc. | 498 | ||||||
2,818 | Dunkin’ Brands Group, Inc. | 182 | ||||||
8,399 | Extended Stay America, Inc. | 160 | ||||||
732 | Hilton Grand Vacations (a) | 31 | ||||||
244 | Hilton Worldwide Holdings, Inc. | 19 | ||||||
819 | Hyatt Hotels Corp., Class – A (a) | 60 | ||||||
4,069 | International Game Technology PLC | 108 | ||||||
11,179 | Las Vegas Sands Corp. | 776 | ||||||
19,027 | McDonald’s Corp. | 3,274 | ||||||
10,528 | MGM Resorts International | 352 | ||||||
1,637 | Norwegian Cruise Line Holdings Ltd. (a) | 87 | ||||||
1,510 | Royal Caribbean Cruises Ltd. | 180 | ||||||
1,967 | Six Flags Entertainment Corp. | 131 | ||||||
3,614 | Wyndham Worldwide Corp. | 419 | ||||||
439 | Yum China Holdings, Inc. | 18 | ||||||
|
| |||||||
7,687 | ||||||||
|
| |||||||
Household Durables — 0.38% | ||||||||
2,376 | CalAtlantic Group, Inc. | 134 | ||||||
9,318 | D.R. Horton, Inc. | 476 | ||||||
6,837 | Garmin Ltd. | 407 | ||||||
4,283 | Leggett & Platt, Inc. | 204 | ||||||
6,401 | Lennar Corp., Class – A | 405 | ||||||
124 | Lennar Corp., Class – B | 6 | ||||||
511 | Mohawk Industries, Inc. (a) | 141 | ||||||
17,675 | Newell Rubbermaid, Inc. | 547 | ||||||
8,487 | PulteGroup, Inc. | 282 | ||||||
271 | Tempur Sealy International, Inc. (a) | 17 | ||||||
4,199 | Toll Brothers, Inc. | 202 | ||||||
1,420 | Tupperware Brands Corp. | 89 | ||||||
2,889 | Whirlpool Corp. | 487 | ||||||
|
| |||||||
3,397 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Household Products — 1.44% | ||||||||
3,083 | Church & Dwight Co., Inc. | $ | 155 | |||||
43,691 | Colgate-Palmolive Co. | 3,296 | ||||||
2,477 | Energizer Holdings, Inc. | 119 | ||||||
22,216 | Kimberly-Clark Corp. | 2,681 | ||||||
307 | Spectrum Brands Holdings, Inc. | 35 | ||||||
5,858 | The Clorox Co. | 871 | ||||||
62,310 | The Procter & Gamble Co. | 5,724 | ||||||
|
| |||||||
12,881 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.04% |
| |||||||
6,191 | Calpine Corp. (a) | 94 | ||||||
2,135 | NRG Energy, Inc., Class – C | 61 | ||||||
14,571 | The AES Corp. | 158 | ||||||
2,101 | Vistra Energy Corp. (a) | 38 | ||||||
|
| |||||||
351 | ||||||||
|
| |||||||
Industrial Conglomerates — 1.00% | ||||||||
14,201 | 3M Co. | 3,342 | ||||||
1,532 | Carlisle Companies, Inc. | 174 | ||||||
223,747 | General Electric Co. | 3,905 | ||||||
9,859 | Honeywell International, Inc. | 1,512 | ||||||
61 | Roper Industries, Inc. | 16 | ||||||
|
| |||||||
8,949 | ||||||||
|
| |||||||
Insurance — 5.79% | ||||||||
25,116 | Aflac, Inc. | 2,205 | ||||||
131 | Alleghany Corp. (a) | 78 | ||||||
91,983 | Allstate Corp. | 9,631 | ||||||
622 | American Financial Group, Inc. | 68 | ||||||
186,834 | American International Group, Inc. | 11,131 | ||||||
67 | American National Insurance Co. | 9 | ||||||
937 | Arch Capital Group Ltd. (a) | 85 | ||||||
4,736 | Arthur J. Gallagher & Co. | 300 | ||||||
1,762 | Aspen Insurance Holdings Ltd. | 72 | ||||||
5,360 | Assurant, Inc. | 541 | ||||||
3,958 | Assured Guaranty Ltd. | 134 | ||||||
2,007 | Athene Holding Ltd. (a) | 104 | ||||||
7,825 | AXIS Capital Holdings Ltd. | 393 | ||||||
745 | Brighthouse Financial, Inc. (a) | 44 | ||||||
1,045 | Brown & Brown, Inc. | 54 | ||||||
4,073 | Chubb Ltd. | 595 | ||||||
5,468 | Cincinnati Financial Corp. | 410 | ||||||
1,060 | CNA Financial Corp. | 56 | ||||||
751 | Erie Indemnity Co., Class – A | 92 | ||||||
9,529 | Everest Re Group Ltd. | 2,107 | ||||||
76,489 | First American Financial Corp. | 4,286 | ||||||
175,800 | FNF Group | 6,898 | ||||||
383 | Hanover Insurance Group, Inc. | 41 | ||||||
3,121 | Hartford Financial Services Group, Inc. | 176 | ||||||
7,404 | Lincoln National Corp. | 569 | ||||||
9,223 | Loews Corp. | 461 | ||||||
120 | Markel Corp. (a) | 137 | ||||||
1,055 | Mercury General Corp. | 56 | ||||||
37,102 | MetLife, Inc. | 1,876 | ||||||
15,090 | Old Republic International Corp. | 323 | ||||||
11,255 | Principal Financial Group, Inc. | 794 | ||||||
2,095 | ProAssurance Corp. | 120 |
See accompanying notes to financial statements.
15
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Insurance (continued) | ||||||||
28,339 | Prudential Financial, Inc. | $ | 3,258 | |||||
2,119 | Reinsurance Group of America | 330 | ||||||
1,296 | RenaissanceRe Holdings Ltd. | 163 | ||||||
19,098 | The Travelers Companies, Inc. | 2,590 | ||||||
1,018 | Torchmark Corp. | 92 | ||||||
7,555 | Unum Group | 415 | ||||||
6,136 | Validus Holdings Ltd. | 288 | ||||||
3,156 | W.R. Berkley Corp. | 226 | ||||||
33 | White Mountains Insurance Group Ltd. | 28 | ||||||
1,113 | Willis Towers Watson PLC | 168 | ||||||
15,387 | XL Group Ltd. | 541 | ||||||
|
| |||||||
51,945 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.02% | ||||||||
356 | Liberty Expedia Holdings, Class – A (a) | 16 | ||||||
1,538 | Liberty Interactive Corp., QVC Group (a) | 38 | ||||||
2,226 | Liberty Ventures, Class – A (a) | 121 | ||||||
506 | TripAdvisor, Inc. (a) | 17 | ||||||
|
| |||||||
192 | ||||||||
|
| |||||||
Internet Software & Services — 0.15% | ||||||||
3,981 | Akamai Technologies, Inc. (a) | 259 | ||||||
24,074 | eBay, Inc. (a) | 908 | ||||||
174 | LogMeln, Inc. | 20 | ||||||
5,525 | Twitter, Inc. (a) | 133 | ||||||
126 | Zillow Group, Inc., Class – A (a) | 5 | ||||||
242 | Zillow Group, Inc., Class – C (a) | 10 | ||||||
|
| |||||||
1,335 | ||||||||
|
| |||||||
IT Services — 1.34% | ||||||||
6,971 | Accenture PLC, Class – A | 1,067 | ||||||
1,269 | Amdocs Ltd. | 83 | ||||||
12,490 | Automatic Data Processing, Inc. | 1,464 | ||||||
2,291 | Black Knight, Inc. (a) | 101 | ||||||
81,714 | Booz Allen Hamilton Holding Corp. | 3,116 | ||||||
8,902 | Cognizant Technology Solutions Corp. | 632 | ||||||
1,742 | Conduent, Inc. (a) | 28 | ||||||
276 | CoreLogic, Inc. (a) | 13 | ||||||
1,395 | DST Systems, Inc. | 87 | ||||||
1,251 | Fidelity National Information Services, Inc. | 118 | ||||||
22,872 | International Business Machines Corp. | 3,508 | ||||||
4,852 | Leidos Holdings, Inc. | 313 | ||||||
9,082 | Paychex, Inc. | 618 | ||||||
10,912 | Sabre Corp. | 224 | ||||||
1,091 | Teradata Corp. (a) | 42 | ||||||
32,431 | Western Union Co. | 617 | ||||||
57 | WEX, Inc. (a) | 8 | ||||||
|
| |||||||
12,039 | ||||||||
|
| |||||||
Leisure Products — 0.08% | ||||||||
131 | Brunswick Corp. | 7 | ||||||
3,566 | Hasbro, Inc. | 325 | ||||||
12,576 | Mattel, Inc. | 193 | ||||||
1,831 | Polaris Industries, Inc. | 227 | ||||||
|
| |||||||
752 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.22% | ||||||||
7,516 | Agilent Technologies, Inc. | 503 | ||||||
188 | Bio-Rad Laboratories, Inc., Class – A (a) | 45 |
Shares | Security Description | Value (000) | ||||||
Life Sciences Tools & Services (continued) | ||||||||
603 | Bio-Techne Corp. | $ | 78 | |||||
2,289 | Bruker Biosciences Corp. | 79 | ||||||
2,424 | Illumina, Inc. (a) | 529 | ||||||
530 | IQVIA Holdings, Inc. (a) | 52 | ||||||
788 | PerkinElmer, Inc. | 58 | ||||||
1,357 | Qiagen N.V. (a) | 42 | ||||||
1,921 | Thermo Electron Corp. | 365 | ||||||
1,254 | Waters Corp. (a) | 242 | ||||||
|
| |||||||
1,993 | ||||||||
|
| |||||||
Machinery — 1.45% | ||||||||
596 | AGCO Corp. | 43 | ||||||
17,483 | Caterpillar, Inc. | 2,755 | ||||||
2,201 | Colfax Corp. (a) | 87 | ||||||
1,286 | Crane Co. | 115 | ||||||
8,698 | Cummins, Inc. | 1,536 | ||||||
82 | Donaldson Company, Inc. | 4 | ||||||
6,263 | Dover Corp. | 633 | ||||||
1,173 | Flowserve Corp. | 49 | ||||||
5,251 | Fortive Corp. | 380 | ||||||
43 | IDEX Corp. | 6 | ||||||
1,169 | Ingersoll-Rand PLC | 104 | ||||||
2,225 | ITT, Inc. | 119 | ||||||
54,845 | Oshkosh Corp. | 4,984 | ||||||
8,543 | PACCAR, Inc. | 607 | ||||||
165 | Parker Hannifin Corp. | 33 | ||||||
6,568 | Pentair PLC | 464 | ||||||
1,356 | Snap-on, Inc. | 236 | ||||||
1,208 | Stanley Black & Decker, Inc. | 205 | ||||||
2,146 | Terex Corp. | 103 | ||||||
3,702 | The Timken Co. | 182 | ||||||
3,736 | Trinity Industries, Inc. | 140 | ||||||
812 | WABCO Holdings, Inc. (a) | 117 | ||||||
522 | Wabtec Corp. | 43 | ||||||
765 | Xylem, Inc. | 52 | ||||||
|
| |||||||
12,997 | ||||||||
|
| |||||||
Marine — 0.00% | ||||||||
485 | Kirby Corp. (a) | 32 | ||||||
|
| |||||||
Media — 2.42% | ||||||||
530 | Charter Communications, Inc., Class – A (a) | 178 | ||||||
6,547 | Cinemark Holdings, Inc. | 228 | ||||||
181,612 | Comcast Corp., Class – A | 7,275 | ||||||
4,993 | Discovery Communications, Inc., Class – A (a) | 112 | ||||||
6,953 | Discovery Communications, Inc., Class – C (a) | 147 | ||||||
5,247 | Dish Network Corp. (a) | 251 | ||||||
2,685 | John Wiley & Sons, Inc., Class – A | 177 | ||||||
737 | Liberty Broadband, Class – A (a) | 63 | ||||||
3,094 | Liberty Broadband, Class – C (a) | 263 | ||||||
178 | Liberty Media Group, Class – A (a) | 6 | ||||||
1,660 | Liberty Media Group, Class – C (a) | 57 | ||||||
811 | Liberty SiriusXM Group, Class – A (a) | 32 | ||||||
1,586 | Liberty SiriusXM Group, Class – C (a) | 63 | ||||||
1,302 | Lions Gate Entertainment Corp., Class – A (a) | 44 | ||||||
1,571 | Lions Gate Entertainment Corp., Class – B (a) | 50 | ||||||
933 | News Corp., Inc. | 15 | ||||||
11,804 | News Corp., Inc., Class – A | 191 |
See accompanying notes to financial statements.
16
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
14,944 | Omnicom Group, Inc. | $ | 1,088 | |||||
4,554 | Regal Entertainment Group, Class – A | 105 | ||||||
2,195 | Scripps Networks Interactive, Class – A | 187 | ||||||
32,751 | Sirius XM Holdings, Inc. | 176 | ||||||
6,829 | TEGNA, Inc. | 96 | ||||||
37,055 | The Interpublic Group of Companies, Inc. | 747 | ||||||
154 | The Madison Square Garden Co., Class – A (a) | 32 | ||||||
4,290 | The Walt Disney Co. | 461 | ||||||
6,792 | Time Warner, Inc. | 621 | ||||||
2,926 | Tribune Media Co. | 124 | ||||||
231,570 | Twenty-First Century Fox, Inc. | 7,997 | ||||||
3,673 | Twenty-First Century Fox, Inc. | 125 | ||||||
55 | Viacom, Inc., Class – A | 2 | ||||||
25,235 | Viacom, Inc., Class – B | 777 | ||||||
|
| |||||||
21,690 | ||||||||
|
| |||||||
Metals & Mining — 0.82% | ||||||||
88,384 | Alcoa Corp. (a) | 4,762 | ||||||
33,515 | Freeport-McMoRan Copper & Gold, Inc. (a) | 635 | ||||||
4,700 | Newmont Mining Corp. | 176 | ||||||
17,748 | Nucor Corp. | 1,128 | ||||||
4,072 | Reliance Steel & Aluminum Co. | 349 | ||||||
329 | Royal Gold, Inc. | 27 | ||||||
103 | Southern Copper Corp. | 5 | ||||||
5,845 | Steel Dynamics, Inc. | 252 | ||||||
2,403 | Tahoe Resources, Inc. | 12 | ||||||
1,551 | United States Steel Corp. | 55 | ||||||
|
| |||||||
7,401 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.20% | ||||||||
20,257 | AGNC Investment Corp. | 409 | ||||||
40,733 | Annaly Capital Management, Inc. | 484 | ||||||
5,620 | Chimera Investment Corp. | 104 | ||||||
692 | Granite Point Mortgage Trust, Inc. | 12 | ||||||
21,909 | MFA Financial, Inc. | 174 | ||||||
8,748 | New Residential Investment Corp. | 156 | ||||||
18,075 | Starwood Property Trust, Inc. | 386 | ||||||
4,980 | Two Harbors Investment Corp. | 81 | ||||||
|
| |||||||
1,806 | ||||||||
|
| |||||||
Multiline Retail — 0.67% | ||||||||
1,501 | Dollar General Corp. | 140 | ||||||
121 | Dollar Tree, Inc. (a) | 13 | ||||||
10,509 | Kohl’s Corp. | 570 | ||||||
30,803 | Macy’s, Inc. | 776 | ||||||
3,830 | Nordstrom, Inc. | 181 | ||||||
66,414 | Target Corp. | 4,333 | ||||||
|
| |||||||
6,013 | ||||||||
|
| |||||||
Multi-Utilities — 1.14% | ||||||||
4,721 | Ameren Corp. | 278 | ||||||
9,212 | CenterPoint Energy, Inc. | 261 | ||||||
6,004 | CMS Energy Corp. | 284 | ||||||
9,249 | Consolidated Edison, Inc. | 786 | ||||||
15,158 | Dominion Resources, Inc. | 1,229 | ||||||
3,622 | DTE Energy Co. | 396 | ||||||
4,441 | MDU Resources Group, Inc. | 119 |
Shares | Security Description | Value (000) | ||||||
Multi-Utilities (continued) | ||||||||
177,708 | NiSource, Inc. | $ | 4,562 | |||||
14,694 | Public Service Enterprise Group, Inc. | 757 | ||||||
4,404 | SCANA Corp. | 175 | ||||||
5,484 | Sempra Energy | 586 | ||||||
1,658 | Vectren Corp. | 108 | ||||||
9,657 | WEC Energy Group, Inc. | 642 | ||||||
|
| |||||||
10,183 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 8.45% | ||||||||
4,806 | Anadarko Petroleum Corp. | 258 | ||||||
9,681 | Andeavor | 1,107 | ||||||
6,293 | Antero Resources Corp. (a) | 120 | ||||||
17,270 | Apache Corp. | 729 | ||||||
12,046 | Cabot Oil & Gas Corp. | 345 | ||||||
139,916 | Canadian Natural Resources | 4,998 | ||||||
1,174 | Centennial Resources Development (a) | 23 | ||||||
588 | Cheniere Energy, Inc. (a) | 32 | ||||||
7,723 | Chesapeake Energy Corp. (a) | 31 | ||||||
54,383 | Chevron Corp. | 6,807 | ||||||
82 | Cimarex Energy Co. | 10 | ||||||
7,186 | CNX Resources Corp. (a) | 105 | ||||||
4,672 | Concho Resources, Inc. (a) | 702 | ||||||
67,511 | ConocoPhillips | 3,706 | ||||||
860 | CONSOL Energy, Inc. (a) | 34 | ||||||
2,403 | Continental Resources, Inc. (a) | 127 | ||||||
133,782 | Devon Energy Corp. | 5,539 | ||||||
2,932 | Diamondback Energy, Inc. (a) | 370 | ||||||
3,099 | Energen Corp. (a) | 178 | ||||||
98,622 | EOG Resources, Inc. | 10,641 | ||||||
5,900 | EQT Corp. | 336 | ||||||
3,955 | Extraction Oil & Gas, Inc. (a) | 57 | ||||||
92,705 | Exxon Mobil Corp. | 7,753 | ||||||
5,008 | Gulfport Energy Corp. (a) | 64 | ||||||
129,434 | Hess Corp. | 6,143 | ||||||
10,547 | HollyFrontier Corp. | 540 | ||||||
115,471 | Kinder Morgan, Inc. | 2,087 | ||||||
1,752 | Kosmos Energy Ltd. (a) | 12 | ||||||
27,104 | Marathon Oil Corp. | 459 | ||||||
154,487 | Marathon Petroleum Corp. | 10,192 | ||||||
9,924 | Murphy Oil Corp. | 308 | ||||||
15,293 | Noble Energy, Inc. | 446 | ||||||
29,724 | Occidental Petroleum Corp. | 2,189 | ||||||
12,601 | ONEOK, Inc. | 674 | ||||||
5,986 | Parsley Energy, Inc., Class – A (a) | 176 | ||||||
6,140 | PBF Energy, Inc., Class – A | 218 | ||||||
27,512 | Phillips 66 | 2,783 | ||||||
5,316 | Pioneer Natural Resources Co. | 919 | ||||||
1,894 | QEP Resources, Inc. (a) | 18 | ||||||
7,425 | Range Resources Corp. | 127 | ||||||
3,556 | RSP Permian, Inc. (a) | 145 | ||||||
3,636 | SM Energy Co. | 80 | ||||||
4,452 | Southwestern Energy Co. (a) | 25 | ||||||
8,212 | Targa Resources Corp. | 398 | ||||||
29,832 | The Williams Companies, Inc. | 910 | ||||||
28,987 | Valero Energy Corp. | 2,664 | ||||||
666 | Whiting Petroleum Corp. (a) | 18 |
See accompanying notes to financial statements.
17
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
2,202 | World Fuel Services Corp. | $ | 62 | |||||
3,554 | WPX Energy, Inc. (a) | 50 | ||||||
|
| |||||||
75,715 | ||||||||
|
| |||||||
Paper & Forest Products — 0.02% | ||||||||
3,507 | Domtar Corp. | 174 | ||||||
|
| |||||||
Personal Products — 0.14% | ||||||||
27,741 | Coty, Inc., Class – A | 552 | ||||||
1,226 | Edgewell Personal Care Co. (a) | 73 | ||||||
853 | Herbalife Ltd. (a) | 58 | ||||||
2,755 | Nu Skin Enterprises, Inc., Class – A | 188 | ||||||
2,759 | The Estee Lauder Companies, Inc., Class – A | 351 | ||||||
|
| |||||||
1,222 | ||||||||
|
| |||||||
Pharmaceuticals — 3.56% | ||||||||
1,439 | Akorn, Inc. (a) | 46 | ||||||
2,943 | Allergan PLC | 481 | ||||||
71,419 | Bristol-Myers Squibb Co. | 4,377 | ||||||
24,479 | Eli Lilly & Co. | 2,067 | ||||||
1,999 | ENDO International PLC (a) | 15 | ||||||
50,416 | Johnson & Johnson | 7,045 | ||||||
128,845 | Mallinckrodt PLC (a) | 2,907 | ||||||
84,607 | Merck & Co., Inc. | 4,761 | ||||||
13,470 | Mylan N.V. (a) | 570 | ||||||
1,162 | Perrigo Co. PLC | 101 | ||||||
165,143 | Pfizer, Inc. | 5,982 | ||||||
188,853 | Teva Pharmaceutical Industries Ltd., ADR | 3,579 | ||||||
|
| |||||||
31,931 | ||||||||
|
| |||||||
Professional Services — 0.12% | ||||||||
1,474 | IHS Markit Ltd. (a) | 67 | ||||||
2,208 | ManpowerGroup, Inc. | 278 | ||||||
14,243 | Nielsen Holdings PLC | 519 | ||||||
2,972 | Robert Half International, Inc. | 165 | ||||||
199 | The Dun & Bradstreet Corp. | 24 | ||||||
|
| |||||||
1,053 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.05% | ||||||||
3,855 | CBRE Group, Inc., Class – A (a) | 167 | ||||||
594 | Howard Hughes Corp. (a) | 78 | ||||||
760 | Jones Lang LaSalle, Inc. | 113 | ||||||
2,371 | Realogy Holdings Corp. | 63 | ||||||
|
| |||||||
421 | ||||||||
|
| |||||||
Road & Rail — 0.55% | ||||||||
37 | AMERCO, Inc. | 14 | ||||||
767 | CSX Corp. | 42 | ||||||
1,308 | Genesee & Wyoming, Inc., Class – A (a) | 103 | ||||||
910 | Kansas City Southern | 96 | ||||||
6,228 | Norfolk Southern Corp. | 902 | ||||||
210 | Old Dominion Freight Line, Inc. | 28 | ||||||
2,847 | Ryder System, Inc. | 240 | ||||||
26,353 | Union Pacific Corp. | 3,534 | ||||||
|
| |||||||
4,959 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 3.29% | ||||||||
9,076 | Analog Devices, Inc. | 808 | ||||||
11,862 | Cypress Semiconductor Corp. | 181 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
675 | First Solar, Inc. (a) | $ | 46 | |||||
368,599 | Intel Corp. | 17,014 | ||||||
3,679 | KLA-Tencor Corp. | 387 | ||||||
2,902 | Lam Research Corp. | 534 | ||||||
3,522 | Marvell Technology Group Ltd. | 76 | ||||||
7,545 | Maxim Integrated Products, Inc. | 394 | ||||||
2,356 | Micron Technology, Inc. (a) | 97 | ||||||
157 | Microsemi Corp. (a) | 8 | ||||||
1,308 | NXP Semiconductors N.V. (a) | 153 | ||||||
307 | ON Semiconductor Corp. (a) | 6 | ||||||
512 | Qorvo, Inc. (a) | 34 | ||||||
90,143 | Qualcomm, Inc. | 5,771 | ||||||
3,276 | Skyworks Solutions, Inc. | 311 | ||||||
3,556 | Teradyne, Inc. | 149 | ||||||
32,598 | Texas Instruments, Inc. | 3,405 | ||||||
845 | Versum Materials, Inc. | 32 | ||||||
171 | Xilinx, Inc. | 12 | ||||||
|
| |||||||
29,418 | ||||||||
|
| |||||||
Software — 2.26% | ||||||||
344 | Autodesk, Inc. (a) | 36 | ||||||
11,204 | CA, Inc. | 373 | ||||||
1,682 | FireEye, Inc. (a) | 24 | ||||||
390 | Guidewire Software, Inc. (a) | 29 | ||||||
40,022 | Microsoft Corp. | 3,423 | ||||||
2,588 | Nuance Communications, Inc. (a) | 42 | ||||||
339,507 | Oracle Corp. | 16,053 | ||||||
110 | SS&C Technologies Holdings, Inc. | 4 | ||||||
1,217 | Synopsys, Inc. (a) | 104 | ||||||
1,059 | VMware, Inc., Class – A (a) | 133 | ||||||
7,064 | Zynga, Inc. (a) | 28 | ||||||
|
| |||||||
20,249 | ||||||||
|
| |||||||
Specialty Retail — 1.40% | ||||||||
433 | Advance Auto Parts, Inc. | 43 | ||||||
478 | AutoNation, Inc. (a) | 25 | ||||||
36 | AutoZone, Inc. (a) | 26 | ||||||
8,525 | Bed Bath & Beyond, Inc. | 187 | ||||||
16,872 | Best Buy Co., Inc. | 1,155 | ||||||
262 | Burlington Stores, Inc. (a) | 32 | ||||||
4,696 | Dick’s Sporting Goods, Inc. | 135 | ||||||
9,489 | Foot Locker, Inc. | 445 | ||||||
32,849 | GameStop Corp., Class – A | 590 | ||||||
13,864 | Gap, Inc. | 472 | ||||||
9,089 | L Brands, Inc. | 547 | ||||||
153,456 | Michaels Companies, Inc. The (a) | 3,713 | ||||||
290 | Murphy USA, Inc. (a) | 23 | ||||||
1,424 | Penske Automotive Group, Inc. | 68 | ||||||
645 | Sally Beauty Holdings, Inc. (a) | 12 | ||||||
15,922 | Signet Jewelers Ltd. | 900 | ||||||
18,226 | The Home Depot, Inc. | 3,454 | ||||||
4,288 | Tiffany & Co. | 446 | ||||||
2,497 | Urban Outfitters, Inc. (a) | 88 | ||||||
3,490 | Williams-Sonoma, Inc. | 180 | ||||||
|
| |||||||
12,541 | ||||||||
|
|
See accompanying notes to financial statements.
18
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Technology Hardware, Storage & Peripherals — 2.09% | ||||||||
7,259 | Apple, Inc. | $ | 1,228 | |||||
14,243 | Hewlett Packard Enterprise Co. | 205 | ||||||
419,897 | HP, Inc. | 8,822 | ||||||
77,340 | NCR Corp. (a) | 2,629 | ||||||
5,318 | NetApp, Inc. | 294 | ||||||
10,961 | Western Digital Corp. | 872 | ||||||
160,935 | Xerox Corp. | 4,691 | ||||||
|
| |||||||
18,741 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.28% | ||||||||
12,796 | Hanesbrands, Inc. | 268 | ||||||
2,243 | Lululemon Athletica, Inc. (a) | 176 | ||||||
4,727 | Michael Kors Holdings Ltd. (a) | 298 | ||||||
685 | PVH Corp. | 94 | ||||||
3,356 | Ralph Lauren Corp. | 348 | ||||||
643 | Skechers USA, Inc., Class – A (a) | 24 | ||||||
10,038 | Tapestry, Inc. | 444 | ||||||
357 | Under Armour, Inc., Class – A (a) | 5 | ||||||
363 | Under Armour, Inc., Class – C (a) | 5 | ||||||
12,291 | V.F. Corp. | 910 | ||||||
|
| |||||||
2,572 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.04% | ||||||||
27,644 | New York Community Bancorp, Inc. | 359 | ||||||
439 | TFS Financial Corp. | 7 | ||||||
|
| |||||||
366 | ||||||||
|
| |||||||
Tobacco — 2.65% | ||||||||
63,801 | Altria Group, Inc. | 4,556 | ||||||
69,121 | British American Tobacco PLC, ADR | 4,630 | ||||||
138,725 | Philip Morris International, Inc. | 14,656 | ||||||
|
| |||||||
23,842 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.23% | ||||||||
2,360 | Air Lease Corp. | 113 | ||||||
8,216 | Fastenal Co. | 449 | ||||||
3,242 | HD Supply Holdings, Inc. (a) | 130 | ||||||
2,281 | MSC Industrial Direct Co., Inc., Class – A | 220 | ||||||
3,811 | W.W. Grainger, Inc. | 901 | ||||||
933 | Watsco, Inc. | 159 | ||||||
1,174 | WESCO International, Inc. (a) | 80 | ||||||
|
| |||||||
2,052 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.06% | ||||||||
7,898 | Macquarie Infrastructure Corp. | 507 | ||||||
|
| |||||||
Water Utilities — 0.03% | ||||||||
1,573 | American Water Works Co., Inc. | 144 | ||||||
3,912 | Aqua America, Inc. | 153 | ||||||
|
| |||||||
297 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 1.07% | ||||||||
5,742 | Sprint Nextel Corp. (a) | 34 | ||||||
5,963 | Telephone & Data Systems, Inc. | 166 | ||||||
147,751 | T-Mobile USA, Inc. (a) | 9,384 | ||||||
434 | U.S. Cellular Corp. (a) | 16 | ||||||
|
| |||||||
9,600 | ||||||||
|
| |||||||
Total Common Stocks | 815,589 | |||||||
|
|
Shares | Security Description | Value (000) | ||||||
Contingent Rights — 0.00% | ||||||||
Food & Staples Retailing — 0.00% | ||||||||
18,568 | Safeway, Inc. (Casa Ley)* (a) | $ | 19 | |||||
18,568 | Safeway, Inc. (PDC)* | — | ||||||
|
| |||||||
Total Contingent Rights | 19 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.00% | ||||||||
$ | 11 | U.S. Treasury Bill, 1.26%, 3/8/18 (b)(c) | $ | 11 | ||||
|
| |||||||
Total U.S. Treasury Obligation | 11 | |||||||
|
| |||||||
Time Deposit — 0.83% | ||||||||
7,435 | State Street Liquidity Management Control System Eurodollar Time Deposit, | 7,435 | ||||||
|
| |||||||
Total Time Deposit | 7,435 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds —9.06% | ||||||||
743,305 | Dreyfus Treasury Prime Cash Management Fund, 1.11% (d) | 743 | ||||||
2,769,481 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 2,769 | ||||||
77,740,568 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 77,741 | ||||||
|
| |||||||
Total Mutual Funds | 81,253 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.29% | ||||||||
$ | 2,577 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $2,577,224 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $2,628,330)^^ | 2,577 | |||||
|
| |||||||
Total Repurchase Agreement | 2,577 | |||||||
|
| |||||||
Total Investments | 906,884 | |||||||
Liabilities in excess of | (10,179 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 896,705 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2017 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $5,250 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
19
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Institutional Value Equity Portfolio | Alliance Bernstein L.P. | Cadence Capital Management, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 36.55 | % | 42.15 | % | 12.26 | % | — | — | 90.96 | % | ||||||||||||||
Contingent Rights | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
U.S. Treasury Obligation | — | — | 0.00 | % | — | — | 0.00 | % | ||||||||||||||||
Time Deposit | 0.83 | % | — | — | — | — | 0.83 | % | ||||||||||||||||
Mutual Funds | 0.30 | % | 0.15 | % | 0.02 | % | 6.69 | % | 1.90 | % | 9.06 | % | ||||||||||||
Repurchase Agreement | 0.29 | % | — | — | — | — | 0.29 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.71 | % | 0.05 | % | 0.01 | % | -0.49 | % | 0.00 | % | -1.14 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 37.26 | % | 42.35 | % | 12.29 | % | 6.20 | % | 1.90 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
E-Mini S&P 500 Future | 258 | 3/16/18 | $ | 34,219 | $ | 34,520 | $ | 301 | ||||||||||
E-Mini S&P Midcap 400 Future | 85 | 3/16/18 | 16,140 | 16,171 | 31 | |||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 50,359 | $ | 50,691 | $ | 332 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 332 | ||||||||||||||||
Total Unrealized Depreciation | — | |||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 332 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
20
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 94.37% | ||||||||
Aerospace & Defense — 2.05% | ||||||||
890 | BWX Technologies, Inc. | $ | 54 | |||||
7,390 | General Dynamics Corp. | 1,503 | ||||||
251 | HEICO Corp. | 24 | ||||||
467 | HEICO Corp., Class – A | 37 | ||||||
605 | Hexcel Corp. | 37 | ||||||
360 | Huntington Ingalls Industries, Inc. | 85 | ||||||
1,881 | L3 Technologies, Inc. | 372 | ||||||
8,380 | Lockheed Martin Corp. | 2,690 | ||||||
1,564 | Northrop Grumman Corp. | 480 | ||||||
8,003 | Raytheon Co. | 1,503 | ||||||
4,613 | Rockwell Collins, Inc. | 626 | ||||||
21,474 | The Boeing Co. | 6,333 | ||||||
461 | TransDigm Group, Inc. | 127 | ||||||
19,105 | United Technologies Corp. | 2,437 | ||||||
|
| |||||||
16,308 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.28% | ||||||||
4,668 | C.H. Robinson Worldwide, Inc. | 416 | ||||||
5,570 | Expeditors International of Washington, Inc. | 360 | ||||||
2,399 | FedEx Corp. | 599 | ||||||
6,701 | United Parcel Service, Inc., Class – B | 799 | ||||||
833 | XPO Logistics, Inc. (a) | 76 | ||||||
|
| |||||||
2,250 | ||||||||
|
| |||||||
Airlines — 0.08% | ||||||||
941 | Alaska Air Group, Inc. | 69 | ||||||
1,866 | American Airlines Group, Inc. | 97 | ||||||
5,393 | Southwest Airlines Co. | 353 | ||||||
1,764 | Spirit Airlines, Inc. (a) | 79 | ||||||
|
| |||||||
598 | ||||||||
|
| |||||||
Auto Components — 0.05% | ||||||||
2,588 | Aptiv PLC (a) | 220 | ||||||
262 | BorgWarner, Inc. | 13 | ||||||
862 | Delphi Technologies PLC (a) | 45 | ||||||
1,730 | Gentex Corp. | 36 | ||||||
555 | Lear Corp. | 98 | ||||||
333 | Visteon Corp. (a) | 42 | ||||||
|
| |||||||
454 | ||||||||
|
| |||||||
Automobiles — 0.45% | ||||||||
1,266 | Harley-Davidson, Inc. | 64 | ||||||
11,062 | Tesla Motors, Inc. (a) | 3,444 | ||||||
469 | Thor Industries, Inc. | 71 | ||||||
|
| |||||||
3,579 | ||||||||
|
| |||||||
Banks — 0.60% | ||||||||
549 | Bank of the Ozarks, Inc. | 27 | ||||||
7,211 | Citizens Financial Group, Inc. | 303 | ||||||
1,339 | Cullen/Frost Bankers, Inc. | 127 | ||||||
80 | East West Bancorp, Inc. | 5 | ||||||
4,514 | First Republic Bank | 391 | ||||||
35,171 | JPMorgan Chase & Co. | 3,760 | ||||||
207 | Pinnacle Financial Partners, Inc. | 14 | ||||||
294 | Signature Bank (a) | 40 | ||||||
368 | SVB Financial Group (a) | 86 | ||||||
522 | Western Alliance Bancorp (a) | 30 | ||||||
|
| |||||||
4,783 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Beverages — 1.95% | ||||||||
510 | Brown-Forman Corp., Class – A | $ | 34 | |||||
8,327 | Brown-Forman Corp., Class – B | 572 | ||||||
1,559 | Constellation Brands, Inc., Class – A | 356 | ||||||
6,126 | Dr. Pepper Snapple Group, Inc. | 595 | ||||||
50,056 | Monster Beverage Corp. (a) | 3,168 | ||||||
45,913 | PepsiCo, Inc. | 5,505 | ||||||
115,203 | The Coca-Cola Co. | 5,286 | ||||||
|
| |||||||
15,516 | ||||||||
|
| |||||||
Biotechnology — 3.44% | ||||||||
34,784 | AbbVie, Inc. | 3,364 | ||||||
916 | Acadia Pharmaceuticals, Inc. (a) | 28 | ||||||
362 | Agios Pharmaceuticals, Inc. (a) | 21 | ||||||
18,091 | Alexion Pharmaceuticals, Inc. (a) | 2,164 | ||||||
1,446 | Alkermes PLC (a) | 79 | ||||||
710 | Alnylam Pharmaceuticals, Inc. (a) | 90 | ||||||
19,715 | Amgen, Inc. | 3,428 | ||||||
1,933 | Biogen Idec, Inc. (a) | 616 | ||||||
21,529 | BioMarin Pharmaceutical, Inc. (a) | 1,920 | ||||||
1,030 | Bioverativ, Inc. (a) | 56 | ||||||
33,734 | Celgene Corp. (a) | 3,520 | ||||||
2,802 | Exelixis, Inc. (a) | 85 | ||||||
9,020 | Gilead Sciences, Inc. | 646 | ||||||
1,677 | Incyte Corp. (a) | 159 | ||||||
160 | Intercept Pharmaceuticals, Inc. (a) | 9 | ||||||
397 | Intrexon Corp. (a) | 5 | ||||||
1,172 | Ionis Pharmaceuticals, Inc. (a) | 59 | ||||||
825 | Neurocrine Biosciences, Inc. (a) | 64 | ||||||
648 | OPKO Health, Inc. (a) | 3 | ||||||
23,291 | Regeneron Pharmaceuticals, Inc. (a) | 8,755 | ||||||
910 | Seattle Genetics, Inc. (a) | 49 | ||||||
361 | Tesaro, Inc. (a) | 30 | ||||||
14,735 | Vertex Pharmaceuticals, Inc. (a) | 2,208 | ||||||
|
| |||||||
27,358 | ||||||||
|
| |||||||
Building Products — 0.06% | ||||||||
1,367 | A.O. Smith Corp. | 84 | ||||||
906 | Allegion PLC | 72 | ||||||
404 | Armstrong World Industries, Inc. (a) | 24 | ||||||
1,376 | Fortune Brands Home & Security, Inc. | 95 | ||||||
347 | Lennox International, Inc. | 72 | ||||||
2,011 | Masco Corp. | 88 | ||||||
|
| |||||||
435 | ||||||||
|
| |||||||
Capital Markets — 1.76% | ||||||||
1,318 | Ameriprise Financial, Inc. | 223 | ||||||
536 | BGC Partners, Inc., Class – A | 8 | ||||||
2,950 | CBOE Holdings, Inc. | 368 | ||||||
7,281 | CME Group, Inc. | 1,063 | ||||||
1,050 | Eaton Vance Corp. | 59 | ||||||
1,403 | FactSet Research Systems, Inc. | 270 | ||||||
2,588 | Federated Investors, Inc., Class – B | 93 | ||||||
8,985 | Franklin Resources, Inc. | 389 | ||||||
13,118 | Goldman Sachs Group, Inc. | 3,342 | ||||||
2,695 | IntercontinentalExchange Group, Inc. | 190 | ||||||
578 | Invesco Ltd. | 21 | ||||||
1,039 | Lazard Ltd., Class – A | 55 | ||||||
186 | Legg Mason, Inc. | 8 |
See accompanying notes to financial statements.
21
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Capital Markets (continued) | ||||||||
814 | LPL Financial Holdings, Inc. | $ | 47 | |||||
349 | MarketAxess Holdings, Inc. | 70 | ||||||
1,603 | Moody’s Corp. | 237 | ||||||
36,187 | Morgan Stanley | 1,899 | ||||||
637 | Morningstar, Inc. | 62 | ||||||
845 | MSCI, Inc. Common | 107 | ||||||
306 | Raymond James Financial, Inc. | 27 | ||||||
20,744 | S&P Global, Inc. | 3,515 | ||||||
4,450 | SEI Investments Co. | 320 | ||||||
176 | State Street Corp. | 17 | ||||||
6,308 | T. Rowe Price Group, Inc. | 662 | ||||||
8,328 | TD Ameritrade Holding Corp. | 426 | ||||||
9,130 | The Charles Schwab Corp. | 469 | ||||||
2,011 | Waddell & Reed Financial, Inc., Class – A | 45 | ||||||
|
| |||||||
13,992 | ||||||||
|
| |||||||
Chemicals — 2.44% | ||||||||
4,878 | Air Products & Chemicals, Inc. | 800 | ||||||
17,913 | Albemarle Corp. | 2,291 | ||||||
2,007 | Axalta Coating Systems Ltd. (a) | 65 | ||||||
807 | Celanese Corp., Series A | 86 | ||||||
10,821 | DowDuPont, Inc. | 771 | ||||||
83,129 | Ecolab, Inc. | 11,155 | ||||||
1,293 | FMC Corp. | 122 | ||||||
893 | Huntsman Corp. | 30 | ||||||
2,622 | International Flavors & Fragrances, Inc. | 400 | ||||||
1,388 | LyondellBasell Industries N.V., Class – A | 153 | ||||||
4,261 | Monsanto Co. | 498 | ||||||
66 | NewMarket Corp. | 26 | ||||||
930 | Platform Specialty Products Corp. (a) | 9 | ||||||
2,290 | PPG Industries, Inc. | 268 | ||||||
8,990 | Praxair, Inc. | 1,391 | ||||||
1,172 | RPM International, Inc. | 61 | ||||||
1,790 | The Chemours Co. | 90 | ||||||
396 | The Scotts Miracle-Gro Co. | 42 | ||||||
2,637 | The Sherwin-Williams Co. | 1,081 | ||||||
639 | W.R. Grace & Co. | 45 | ||||||
163 | Westlake Chemical Corp. | 17 | ||||||
|
| |||||||
19,401 | ||||||||
|
| |||||||
Commercial Services & Supplies — 0.22% | ||||||||
2,968 | Cintas Corp. | 463 | ||||||
340 | Clean Harbors, Inc. (a) | 18 | ||||||
7,437 | Copart, Inc. (a) | 321 | ||||||
1,301 | KAR Auction Services, Inc. | 66 | ||||||
3,222 | Rollins, Inc. | 150 | ||||||
2,028 | Stericycle, Inc. (a) | 138 | ||||||
4,282 | Waste Connections, Inc. | 304 | ||||||
3,522 | Waste Management, Inc. | 304 | ||||||
|
| |||||||
1,764 | ||||||||
|
| |||||||
Communications Equipment — 0.73% | ||||||||
1,331 | Arista Networks, Inc. (a) | 314 | ||||||
118,610 | Cisco Systems, Inc. | 4,542 | ||||||
945 | Commscope Holding, Inc. (a) | 36 | ||||||
2,295 | F5 Networks, Inc. (a) | 301 |
Shares | Security Description | Value (000) | ||||||
Communications Equipment (continued) | ||||||||
3,133 | Harris Corp. | $ | 444 | |||||
153 | Motorola Solutions, Inc. | 14 | ||||||
845 | Palo Alto Networks, Inc. (a) | 122 | ||||||
|
| |||||||
5,773 | ||||||||
|
| |||||||
Construction & Engineering — 0.05% | ||||||||
3,400 | Fluor Corp. | 176 | ||||||
3,090 | Jacobs Engineering Group, Inc. | 203 | ||||||
374 | Quanta Services, Inc. (a) | 15 | ||||||
|
| |||||||
394 | ||||||||
|
| |||||||
Construction Materials — 0.04% | ||||||||
445 | Eagle Materials, Inc., Class – A | 50 | ||||||
540 | Martin Marietta Materials, Inc. | 119 | ||||||
1,164 | Vulcan Materials Co. | 150 | ||||||
|
| |||||||
319 | ||||||||
|
| |||||||
Consumer Finance — 0.10% | ||||||||
279 | Capital One Financial Corp. | 28 | ||||||
95 | Credit Acceptance Corp. (a) | 31 | ||||||
19,189 | Synchrony Financial | 740 | ||||||
|
| |||||||
799 | ||||||||
|
| |||||||
Containers & Packaging — 0.13% | ||||||||
1,658 | AptarGroup, Inc. | 143 | ||||||
91 | Ardagh Group SA | 2 | ||||||
792 | Avery Dennison Corp. | 91 | ||||||
1,954 | Ball Corp. | 74 | ||||||
1,231 | Berry Plastics Group, Inc. (a) | 72 | ||||||
912 | Crown Holdings, Inc. (a) | 51 | ||||||
2,165 | Graphic Packaging Holding Co. | 33 | ||||||
3,612 | International Paper Co. | 209 | ||||||
1,251 | Owens-Illinois, Inc. (a) | 28 | ||||||
887 | Packaging Corporation of America | 107 | ||||||
1,046 | Sealed Air Corp. | 52 | ||||||
704 | Silgan Holdings | 21 | ||||||
2,428 | Sonoco Products Co. | 129 | ||||||
|
| |||||||
1,012 | ||||||||
|
| |||||||
Distributors — 0.09% | ||||||||
4,033 | Genuine Parts Co. | 384 | ||||||
7,531 | LKQ Corp. (a) | 306 | ||||||
381 | Pool Corp. | 49 | ||||||
|
| |||||||
739 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.02% | ||||||||
516 | Bright Horizons Family Solutions, Inc. (a) | 49 | ||||||
292 | H&R Block, Inc. | 8 | ||||||
1,727 | Service Corporation International | 64 | ||||||
1,276 | ServiceMaster Global Holdings, Inc. (a) | 65 | ||||||
|
| |||||||
186 | ||||||||
|
| |||||||
Diversified Financial Services — 0.00% | ||||||||
704 | Leucadia National Corp. | 19 | ||||||
99 | Voya Financial, Inc. | 5 | ||||||
|
| |||||||
24 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.14% | ||||||||
19,813 | Verizon Communications, Inc. | 1,049 | ||||||
1,761 | Zayo Group Holdings, Inc. (a) | 65 | ||||||
|
| |||||||
1,114 | ||||||||
|
|
See accompanying notes to financial statements.
22
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Electrical Equipment — 0.27% | ||||||||
298 | Acuity Brands, Inc. | $ | 52 | |||||
5,948 | AMETEK, Inc. | 431 | ||||||
16,372 | Emerson Electric Co. | 1,142 | ||||||
1,747 | Hubbell, Inc. | 236 | ||||||
1,239 | Rockwell Automation, Inc. | 243 | ||||||
788 | Sensata Technologies Holding N.V. (a) | 40 | ||||||
|
| |||||||
2,144 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 0.37% | ||||||||
10,009 | Amphenol Corp., Class – A | 878 | ||||||
1,465 | CDW Corporation of Delaware | 102 | ||||||
1,578 | Cognex Corp. | 97 | ||||||
237 | Coherent, Inc. (a) | 67 | ||||||
35,333 | Corning, Inc. | 1,129 | ||||||
1,189 | Dolby Laboratories, Inc., Class – A | 74 | ||||||
4,066 | FLIR Systems, Inc. | 190 | ||||||
340 | IPG Photonics Corp. (a) | 73 | ||||||
3,537 | National Instruments Corp. | 147 | ||||||
1,884 | Trimble Navigation Ltd. (a) | 77 | ||||||
405 | Universal Display Corp. | 70 | ||||||
493 | Zebra Technologies Corp., Class – A (a) | 51 | ||||||
|
| |||||||
2,955 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.70% | ||||||||
45,925 | Core Laboratories N.V. | 5,032 | ||||||
953 | Dril-Quip, Inc. (a) | 45 | ||||||
855 | Franks International N.V. | 6 | ||||||
5,623 | Halliburton Co. | 275 | ||||||
2,381 | Helmerich & Payne, Inc. | 154 | ||||||
9,081 | National Oilwell Varco, Inc. | 327 | ||||||
2,406 | Oceaneering International, Inc. | 51 | ||||||
490 | RPC, Inc. | 13 | ||||||
110,632 | Schlumberger Ltd. | 7,455 | ||||||
5,648 | TechnipFMC PLC | 177 | ||||||
|
| |||||||
13,535 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 1.49% | ||||||||
4,093 | American Tower Corp. | 584 | ||||||
246 | Boston Properties, Inc. | 32 | ||||||
2,843 | CoreCivic, Inc. | 64 | ||||||
312 | Coresite Realty Corp. | 36 | ||||||
13,913 | Crown Castle International Corp. | 1,544 | ||||||
1,164 | CubeSmart | 34 | ||||||
720 | CyrusOne, Inc. | 43 | ||||||
1,507 | Digital Realty Trust, Inc. | 172 | ||||||
1,234 | Douglas Emmett, Inc. | 51 | ||||||
17,494 | Equinix, Inc. | 7,928 | ||||||
771 | Equity Lifestyle Properties, Inc. | 69 | ||||||
995 | Extra Space Storage, Inc. | 87 | ||||||
262 | Federal Realty Investment Trust | 35 | ||||||
741 | Gaming & Leisure Properties, Inc. | 27 | ||||||
148 | Hudson Pacific Property, Inc. | 5 | ||||||
2,329 | Iron Mountain, Inc. | 88 | ||||||
733 | Lamar Advertising Co., Class – A | 54 | ||||||
177 | Outfront Media, Inc. | 4 | ||||||
1,433 | Public Storage | 299 |
Shares | Security Description | Value (000) | ||||||
Equity Real Estate Investment Trusts (continued) | ||||||||
1,159 | SBA Communications Corp. (a) | $ | 189 | |||||
2,717 | Simon Property Group, Inc. | 467 | ||||||
150 | Tanger Factory Outlet Centers, Inc. | 4 | ||||||
284 | Taubman Centers, Inc. | 19 | ||||||
|
| |||||||
11,835 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.79% | ||||||||
31,442 | Costco Wholesale Corp. | 5,851 | ||||||
26,104 | CVS Caremark Corp. | 1,893 | ||||||
5,219 | Rite Aid Corp. (a) | 10 | ||||||
5,062 | Sprouts Farmers Market, Inc. (a) | 123 | ||||||
18,338 | Sysco Corp. | 1,114 | ||||||
4,764 | The Kroger Co. | 131 | ||||||
21,437 | Walgreens Boots Alliance, Inc. | 1,557 | ||||||
36,466 | Wal-Mart Stores, Inc. | 3,601 | ||||||
|
| |||||||
14,280 | ||||||||
|
| |||||||
Food Products — 1.21% | ||||||||
879 | Blue Buffalo Pet Products, Inc. (a) | 29 | ||||||
5,351 | Campbell Soup Co. | 257 | ||||||
4,198 | Flowers Foods, Inc. | 81 | ||||||
3,940 | General Mills, Inc. | 234 | ||||||
4,504 | Hershey Co. | 511 | ||||||
6,090 | Hormel Foods Corp. | 222 | ||||||
2,200 | Kellogg Co. | 150 | ||||||
413 | Lamb Weston Holding, Inc. | 23 | ||||||
4,023 | McCormick & Company, Inc. | 410 | ||||||
172,268 | Mondelez International, Inc., Class – A | 7,372 | ||||||
436 | Pilgrim’s Pride Corp. (a) | 14 | ||||||
2,721 | The J.M. Smucker Co. | 338 | ||||||
176 | TreeHouse Foods, Inc. (a) | 9 | ||||||
|
| |||||||
9,650 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 1.96% | ||||||||
39,847 | Abbott Laboratories | 2,273 | ||||||
398 | Abiomed, Inc. (a) | 75 | ||||||
771 | Align Technology, Inc. (a) | 171 | ||||||
12,878 | Baxter International, Inc. | 832 | ||||||
8,179 | Becton, Dickinson & Co. | 1,751 | ||||||
13,186 | Boston Scientific Corp. (a) | 327 | ||||||
13,661 | Danaher Corp. | 1,268 | ||||||
5,532 | Dentsply Sirona, Inc. | 364 | ||||||
813 | DexCom, Inc. (a) | 47 | ||||||
6,951 | Edwards Lifesciences Corp. (a) | 783 | ||||||
584 | Hill-Rom Holdings, Inc. | 49 | ||||||
1,630 | Hologic, Inc. (a) | 70 | ||||||
2,996 | IDEXX Laboratories, Inc. (a) | 469 | ||||||
3,652 | Intuitive Surgical, Inc. (a) | 1,333 | ||||||
33,752 | Medtronic PLC | 2,726 | ||||||
4,542 | ResMed, Inc. | 385 | ||||||
10,956 | Stryker Corp. | 1,696 | ||||||
85 | Teleflex, Inc. | 21 | ||||||
357 | The Cooper Companies, Inc. | 78 | ||||||
965 | Varex Imaging Corp. (a) | 39 | ||||||
3,170 | Varian Medical Systems, Inc. (a) | 352 | ||||||
695 | West Pharmaceutical Services, Inc. | 69 | ||||||
3,903 | Zimmer Holdings, Inc. | 471 | ||||||
|
| |||||||
15,649 | ||||||||
|
|
See accompanying notes to financial statements.
23
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services — 3.35% | ||||||||
9,037 | Aetna, Inc. | $ | 1,631 | |||||
1,515 | AmerisourceBergen Corp. | 139 | ||||||
6,080 | Anthem, Inc. | 1,368 | ||||||
209 | Centene Corp. (a) | 21 | ||||||
2,035 | CIGNA Corp. | 413 | ||||||
15,867 | Express Scripts Holding Co. (a) | 1,184 | ||||||
263 | HCA Holdings, Inc. (a) | 23 | ||||||
5,328 | Henry Schein, Inc. (a) | 372 | ||||||
1,307 | Humana, Inc. | 324 | ||||||
2,279 | Laboratory Corporation of America Holdings (a) | 364 | ||||||
57 | LifePoint Hospitals, Inc. (a) | 3 | ||||||
5,555 | McKesson Corp. | 866 | ||||||
2,212 | MEDNAX, Inc. (a) | 118 | ||||||
2,209 | Patterson Companies, Inc. | 80 | ||||||
111 | Premier, Inc., Class – A (a) | 3 | ||||||
3,270 | Quest Diagnostics, Inc. | 322 | ||||||
86,728 | UnitedHealth Group, Inc. | 19,121 | ||||||
2,094 | Universal Health Services, Inc., Class – B | 237 | ||||||
389 | WellCare Health Plans, Inc. (a) | 78 | ||||||
|
| |||||||
26,667 | ||||||||
|
| |||||||
Health Care Technology — 0.89% | ||||||||
374 | athenahealth, Inc. (a) | 50 | ||||||
101,977 | Cerner Corp. (a) | 6,872 | ||||||
2,799 | Veeva Systems, Inc. (a) | 155 | ||||||
|
| |||||||
7,077 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 5.33% | ||||||||
988 | Aramark | 42 | ||||||
26,638 | Chipotle Mexican Grill, Inc. (a) | 7,700 | ||||||
1,166 | Choice Hotels International, Inc. | 90 | ||||||
1,181 | Darden Restaurants, Inc. | 113 | ||||||
467 | Domino’s Pizza, Inc. | 88 | ||||||
874 | Dunkin’ Brands Group, Inc. | 56 | ||||||
1,069 | Extended Stay America, Inc. | 20 | ||||||
678 | Hilton Grand Vacations (a) | 28 | ||||||
1,871 | Hilton Worldwide Holdings, Inc. | 149 | ||||||
3,492 | Las Vegas Sands Corp. | 243 | ||||||
37,418 | Marriott International, Inc., Class – A | 5,079 | ||||||
53,349 | McDonald’s Corp. | 9,183 | ||||||
387 | MGM Resorts International | 13 | ||||||
677 | Six Flags Entertainment Corp. | 45 | ||||||
179,245 | Starbucks Corp. | 10,295 | ||||||
1,730 | The Wendy’s Co. | 28 | ||||||
376 | Vail Resorts, Inc. | 80 | ||||||
992 | Wyndham Worldwide Corp. | 115 | ||||||
775 | Wynn Resorts Ltd. | 131 | ||||||
12,221 | Yum China Holdings, Inc. | 489 | ||||||
103,533 | YUM! Brands, Inc. | 8,450 | ||||||
|
| |||||||
42,437 | ||||||||
|
| |||||||
Household Durables — 0.07% | ||||||||
1,821 | D.R. Horton, Inc. | 93 | ||||||
2,883 | Garmin Ltd. | 172 | ||||||
1,032 | Leggett & Platt, Inc. | 49 | ||||||
39 | Mohawk Industries, Inc. (a) | 11 | ||||||
33 | NVR, Inc. (a) | 116 |
Shares | Security Description | Value (000) | ||||||
Household Durables (continued) | ||||||||
810 | PulteGroup, Inc. | $ | 27 | |||||
211 | Tempur Sealy International, Inc. (a) | 13 | ||||||
711 | Toll Brothers, Inc. | 34 | ||||||
485 | Tupperware Brands Corp. | 30 | ||||||
58 | Whirlpool Corp. | 10 | ||||||
|
| |||||||
555 | ||||||||
|
| |||||||
Household Products — 1.08% | ||||||||
8,407 | Church & Dwight Co., Inc. | 422 | ||||||
21,922 | Colgate-Palmolive Co. | 1,654 | ||||||
567 | Energizer Holdings, Inc. | 27 | ||||||
11,212 | Kimberly-Clark Corp. | 1,353 | ||||||
233 | Spectrum Brands Holdings, Inc. | 26 | ||||||
4,024 | The Clorox Co. | 599 | ||||||
49,193 | The Procter & Gamble Co. | 4,519 | ||||||
|
| |||||||
8,600 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.00% |
| |||||||
541 | NRG Energy, Inc., Class – C | 15 | ||||||
|
| |||||||
Industrial Conglomerates — 0.84% | ||||||||
20,242 | 3M Co. | 4,765 | ||||||
1,568 | Carlisle Companies, Inc. | 178 | ||||||
14,520 | General Electric Co. | 253 | ||||||
4,301 | Honeywell International, Inc. | 660 | ||||||
3,241 | Roper Industries, Inc. | 839 | ||||||
|
| |||||||
6,695 | ||||||||
|
| |||||||
Insurance — 0.45% | ||||||||
978 | Allstate Corp. | 102 | ||||||
1,086 | American International Group, Inc. | 65 | ||||||
8,917 | Aon PLC | 1,195 | ||||||
171 | Arch Capital Group Ltd. (a) | 16 | ||||||
1,159 | Arthur J. Gallagher & Co. | 73 | ||||||
171 | Aspen Insurance Holdings Ltd. | 7 | ||||||
102 | Assurant, Inc. | 10 | ||||||
2,812 | Brown & Brown, Inc. | 145 | ||||||
171 | Erie Indemnity Co., Class – A | 21 | ||||||
17,280 | Marsh & McLennan Companies, Inc. | 1,407 | ||||||
26 | RenaissanceRe Holdings Ltd. | 3 | ||||||
5,631 | The Progressive Corp. | 317 | ||||||
2,914 | Torchmark Corp. | 264 | ||||||
781 | XL Group Ltd. | 27 | ||||||
|
| |||||||
3,652 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 4.99% | ||||||||
18,566 | Amazon.com, Inc. (a) | 21,713 | ||||||
1,172 | Expedia, Inc. | 140 | ||||||
78 | Liberty Expedia Holdings, Class – A (a) | 3 | ||||||
2,705 | Liberty Interactive Corp., QVC Group (a) | 66 | ||||||
36,287 | Netflix, Inc. (a) | 6,966 | ||||||
6,151 | Priceline.com, Inc. (a) | 10,689 | ||||||
3,358 | TripAdvisor, Inc. (a) | 116 | ||||||
352 | Wayfair, Inc., Class – A (a) | 28 | ||||||
|
| |||||||
39,721 | ||||||||
|
| |||||||
Internet Software & Services — 8.34% | ||||||||
42,626 | Alibaba Group Holding Ltd., ADR (a) | 7,350 | ||||||
12,709 | Alphabet, Inc., Class – A (a) | 13,388 |
See accompanying notes to financial statements.
24
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Internet Software & Services (continued) | ||||||||
15,863 | Alphabet, Inc., Class – C (a) | $ | 16,599 | |||||
338 | CoStar Group, Inc. (a) | 100 | ||||||
123,027 | Facebook, Inc., Class – A (a) | 21,710 | ||||||
1,209 | GoDaddy, Inc., Class – A (a) | 61 | ||||||
659 | InterActiveCorp (a) | 81 | ||||||
965 | LogMeln, Inc. | 110 | ||||||
344 | Match Group, Inc. (a) | 11 | ||||||
2,138 | Pandora Media, Inc. (a) | 10 | ||||||
130,808 | Tencent Holdings Ltd., ADR | 6,792 | ||||||
374 | Twitter, Inc. (a) | 9 | ||||||
854 | VeriSign, Inc. (a) | 98 | ||||||
369 | Zillow Group, Inc., Class – A (a) | 15 | ||||||
692 | Zillow Group, Inc., Class – C (a) | 28 | ||||||
|
| |||||||
66,362 | ||||||||
|
| |||||||
IT Services — 9.85% | ||||||||
20,409 | Accenture PLC, Class – A | 3,124 | ||||||
30,312 | Alliance Data Systems Corp. | 7,683 | ||||||
3,563 | Amdocs Ltd. | 233 | ||||||
68,103 | Automatic Data Processing, Inc. | 7,981 | ||||||
1,059 | Black Knight, Inc. (a) | 47 | ||||||
1,297 | Booz Allen Hamilton Holding Corp. | 49 | ||||||
3,875 | Broadridge Financial Solutions, Inc. | 351 | ||||||
19,553 | Cognizant Technology Solutions Corp. | 1,389 | ||||||
452 | CoreLogic, Inc. (a) | 21 | ||||||
1,538 | CSRA, Inc. | 46 | ||||||
128 | DST Systems, Inc. | 8 | ||||||
2,720 | DXC Technology Co. | 258 | ||||||
476 | Euronet Worldwide, Inc. (a) | 40 | ||||||
1,807 | Fidelity National Information Services, Inc. | 170 | ||||||
4,581 | First Data Corp. (a) | 77 | ||||||
2,046 | Fiserv, Inc. (a) | 268 | ||||||
55,111 | FleetCor Technologies, Inc. (a) | 10,605 | ||||||
833 | Gartner Group, Inc. (a) | 103 | ||||||
1,448 | Genpact Ltd. | 46 | ||||||
4,480 | Global Payments, Inc. | 449 | ||||||
26,874 | International Business Machines Corp. | 4,123 | ||||||
2,603 | Jack Henry & Associates, Inc. | 304 | ||||||
70,664 | MasterCard, Inc., Class – A | 10,696 | ||||||
10,543 | Paychex, Inc. | 718 | ||||||
77,820 | PayPal Holdings, Inc. (a) | 5,729 | ||||||
1,597 | Sabre Corp. | 33 | ||||||
2,359 | Square, Inc., Class – A (a) | 82 | ||||||
230 | Switch, Inc., Class – A | 4 | ||||||
3,283 | Teradata Corp. (a) | 126 | ||||||
5,507 | Total System Services, Inc. | 436 | ||||||
1,524 | Vantive, Inc. (a) | 112 | ||||||
199,186 | Visa, Inc., Class – A | 22,712 | ||||||
16,320 | Western Union Co. | 310 | ||||||
304 | WEX, Inc. (a) | 43 | ||||||
|
| |||||||
78,376 | ||||||||
|
| |||||||
Leisure Products — 0.05% | ||||||||
688 | Brunswick Corp. | 38 | ||||||
842 | Hasbro, Inc. | 77 | ||||||
881 | Mattel, Inc. | 14 |
Shares | Security Description | Value (000) | ||||||
Leisure Products (continued) | ||||||||
2,218 | Polaris Industries, Inc. | $ | 274 | |||||
|
| |||||||
403 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.72% | ||||||||
754 | Agilent Technologies, Inc. | 50 | ||||||
1,270 | Bio-Techne Corp. | 165 | ||||||
440 | Bruker Biosciences Corp. | 15 | ||||||
447 | Charles River Laboratories International, Inc. (a) | 49 | ||||||
10,100 | Illumina, Inc. (a) | 2,207 | ||||||
1,017 | IQVIA Holdings, Inc. (a) | 100 | ||||||
882 | Mettler-Toledo International, Inc. (a) | 546 | ||||||
239 | PerkinElmer, Inc. | 17 | ||||||
693 | Qiagen N.V. (a) | 21 | ||||||
10,849 | Thermo Electron Corp. | 2,060 | ||||||
2,602 | �� | Waters Corp. (a) | 503 | |||||
|
| |||||||
5,733 | ||||||||
|
| |||||||
Machinery — 1.47% | ||||||||
1,300 | Allison Transmission Holdings, Inc. | 56 | ||||||
14,538 | Caterpillar, Inc. | 2,292 | ||||||
1,186 | Crane Co. | 106 | ||||||
497 | Cummins, Inc. | 88 | ||||||
3,076 | Deere & Co. | 481 | ||||||
4,489 | Donaldson Company, Inc. | 220 | ||||||
3,903 | Dover Corp. | 394 | ||||||
9,502 | Fortive Corp. | 687 | ||||||
626 | Gardner Denver Holdings, Inc. (a) | 21 | ||||||
1,569 | Graco, Inc. | 71 | ||||||
2,479 | IDEX Corp. | 327 | ||||||
9,803 | Illinois Tool Works, Inc. | 1,636 | ||||||
1,218 | Ingersoll-Rand PLC | 109 | ||||||
551 | Lincoln Electric Holdings, Inc. | 50 | ||||||
546 | Nordson, Inc. | 80 | ||||||
18,950 | Parker Hannifin Corp. | 3,783 | ||||||
1,448 | Snap-on, Inc. | 252 | ||||||
153 | Stanley Black & Decker, Inc. | 26 | ||||||
1,944 | The Middleby Corp. (a) | 262 | ||||||
1,001 | The Toro Co. | 65 | ||||||
491 | WABCO Holdings, Inc. (a) | 70 | ||||||
2,685 | Wabtec Corp. | 219 | ||||||
1,199 | Welbilt, Inc. (a) | 28 | ||||||
5,030 | Xylem, Inc. | 343 | ||||||
|
| |||||||
11,666 | ||||||||
|
| |||||||
Marine — 0.01% | ||||||||
1,348 | Kirby Corp. (a) | 90 | ||||||
|
| |||||||
Media — 1.58% | ||||||||
518 | AMC Networks, Inc. (a) | 28 | ||||||
46 | Cable One, Inc. | 32 | ||||||
3,250 | CBS Corp., Class – B | 192 | ||||||
9,043 | Charter Communications, Inc., Class – A (a) | 3,038 | ||||||
41,712 | Comcast Corp., Class – A | 1,671 | ||||||
1,618 | Dish Network Corp. (a) | 77 | ||||||
1,114 | John Wiley & Sons, Inc., Class – A | 73 | ||||||
311 | Lions Gate Entertainment Corp., Class – A (a) | 11 | ||||||
638 | Lions Gate Entertainment Corp., Class – B (a) | 20 | ||||||
1,253 | Live Nation Entertainment, Inc. (a) | 53 |
See accompanying notes to financial statements.
25
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
7,840 | Omnicom Group, Inc. | $ | 571 | |||||
279 | Regal Entertainment Group, Class – A | 6 | ||||||
2,693 | Scripps Networks Interactive, Class – A | 230 | ||||||
13,640 | Sirius XM Holdings, Inc. | 73 | ||||||
3,227 | The Interpublic Group of Companies, Inc. | 65 | ||||||
15 | The Madison Square Garden Co., Class – A (a) | 3 | ||||||
59,600 | The Walt Disney Co. | 6,409 | ||||||
701 | Twenty-First Century Fox, Inc. | 24 | ||||||
409 | Twenty-First Century Fox, Inc. | 14 | ||||||
|
| |||||||
12,590 | ||||||||
|
| |||||||
Metals & Mining — 0.01% | ||||||||
2,599 | Freeport-McMoRan Copper & Gold, Inc. (a) | 49 | ||||||
223 | Royal Gold, Inc. | 18 | ||||||
716 | Southern Copper Corp. | 34 | ||||||
369 | Steel Dynamics, Inc. | 16 | ||||||
|
| |||||||
117 | ||||||||
|
| |||||||
Multiline Retail — 0.35% | ||||||||
7,944 | Dollar General Corp. | 739 | ||||||
7,372 | Dollar Tree, Inc. (a) | 791 | ||||||
4,377 | Kohl’s Corp. | 237 | ||||||
1,107 | Nordstrom, Inc. | 52 | ||||||
14,690 | Target Corp. | 959 | ||||||
|
| |||||||
2,778 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 1.65% | ||||||||
1,044 | Antero Resources Corp. (a) | 20 | ||||||
304 | Apache Corp. | 13 | ||||||
3,084 | Cabot Oil & Gas Corp. | 88 | ||||||
1,313 | Cheniere Energy, Inc. (a) | 71 | ||||||
407 | Chesapeake Energy Corp. (a) | 2 | ||||||
42,262 | Chevron Corp. | 5,290 | ||||||
848 | Cimarex Energy Co. | 103 | ||||||
13,773 | Concho Resources, Inc. (a) | 2,069 | ||||||
342 | Continental Resources, Inc. (a) | 18 | ||||||
413 | Devon Energy Corp. | 17 | ||||||
210 | Diamondback Energy, Inc. (a) | 27 | ||||||
9,102 | EOG Resources, Inc. | 982 | ||||||
294 | EQT Corp. | 17 | ||||||
47,402 | Exxon Mobil Corp. | 3,964 | ||||||
145 | Gulfport Energy Corp. (a) | 2 | ||||||
1,489 | Laredo Petroleum, Inc. (a) | 16 | ||||||
1,939 | Newfield Exploration Co. (a) | 61 | ||||||
3,484 | ONEOK, Inc. | 186 | ||||||
1,403 | Parsley Energy, Inc., Class – A (a) | 41 | ||||||
607 | RSP Permian, Inc. (a) | 25 | ||||||
1,165 | The Williams Companies, Inc. | 36 | ||||||
1,773 | World Fuel Services Corp. | 50 | ||||||
|
| |||||||
13,098 | ||||||||
|
| |||||||
Personal Products — 0.51% | ||||||||
659 | Herbalife Ltd. (a) | 45 | ||||||
1,549 | Nu Skin Enterprises, Inc., Class – A | 106 | ||||||
30,395 | The Estee Lauder Companies, Inc., Class – A | 3,867 | ||||||
|
| |||||||
4,018 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Pharmaceuticals — 3.21% | ||||||||
820 | Akorn, Inc. (a) | $ | 26 | |||||
71,362 | Bristol-Myers Squibb Co. | 4,373 | ||||||
32,094 | Eli Lilly & Co. | 2,711 | ||||||
40,469 | Johnson & Johnson | 5,655 | ||||||
66,240 | Merck & Co., Inc. | 3,727 | ||||||
162,869 | Novo Nordisk A/S, Class – B, ADR | 8,741 | ||||||
4,740 | Zoetis, Inc. | 341 | ||||||
|
| |||||||
25,574 | ||||||||
|
| |||||||
Professional Services — 0.21% | ||||||||
3,893 | Equifax, Inc. | 459 | ||||||
7,965 | IHS Markit Ltd. (a) | 359 | ||||||
4,471 | Robert Half International, Inc. | 248 | ||||||
149 | The Dun & Bradstreet Corp. | 18 | ||||||
1,517 | Transunion Holding Company, Inc. (a) | 83 | ||||||
5,329 | Versik Analytics, Inc., Class – A (a) | 512 | ||||||
|
| |||||||
1,679 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.01% | ||||||||
1,377 | CBRE Group, Inc., Class – A (a) | 60 | ||||||
|
| |||||||
Road & Rail — 1.67% | ||||||||
30,473 | CSX Corp. | 1,676 | ||||||
67,999 | Hunt (JB) Transportation Services, Inc. | 7,819 | ||||||
1,454 | Landstar System, Inc. | 151 | ||||||
375 | Old Dominion Freight Line, Inc. | 49 | ||||||
27,097 | Union Pacific Corp. | 3,634 | ||||||
|
| |||||||
13,329 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 2.68% | ||||||||
7,976 | Advanced Micro Devices, Inc. (a) | 82 | ||||||
11,995 | Analog Devices, Inc. | 1,068 | ||||||
10,413 | Applied Materials, Inc. | 532 | ||||||
17,925 | Broadcom Ltd. | 4,605 | ||||||
642 | Cavium, Inc. (a) | 54 | ||||||
254 | Cypress Semiconductor Corp. | 4 | ||||||
109,964 | Intel Corp. | 5,076 | ||||||
1,520 | KLA-Tencor Corp. | 160 | ||||||
1,555 | Lam Research Corp. | 286 | ||||||
2,674 | Maxim Integrated Products, Inc. | 140 | ||||||
2,178 | Microchip Technology, Inc. | 191 | ||||||
7,984 | Micron Technology, Inc. (a) | 328 | ||||||
910 | Microsemi Corp. (a) | 47 | ||||||
23,927 | NVIDIA Corp. | 4,630 | ||||||
1,872 | NXP Semiconductors N.V. (a) | 219 | ||||||
3,857 | ON Semiconductor Corp. (a) | 81 | ||||||
609 | Qorvo, Inc. (a) | 41 | ||||||
35,069 | Qualcomm, Inc. | 2,245 | ||||||
1,784 | Skyworks Solutions, Inc. | 169 | ||||||
1,814 | Teradyne, Inc. | 76 | ||||||
9,681 | Texas Instruments, Inc. | 1,011 | ||||||
2,736 | Versum Materials, Inc. | 104 | ||||||
2,275 | Xilinx, Inc. | 153 | ||||||
|
| |||||||
21,302 | ||||||||
|
| |||||||
Software — 10.58% | ||||||||
42,904 | Activision Blizzard, Inc. | 2,717 | ||||||
33,150 | Adobe Systems, Inc. (a) | 5,809 | ||||||
2,893 | ANSYS, Inc. (a) | 427 |
See accompanying notes to financial statements.
26
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Software (continued) | ||||||||
908 | Atlassian Corp. PLC, Class – A (a) | $ | 41 | |||||
85,709 | Autodesk, Inc. (a) | 8,985 | ||||||
2,691 | Cadence Design Systems, Inc. (a) | 113 | ||||||
1,299 | CDK Global, Inc. | 93 | ||||||
5,164 | Citrix Systems, Inc. (a) | 454 | ||||||
1,982 | Dell Technologies, Inc., Class – V (a) | 161 | ||||||
2,890 | Electronic Arts, Inc. (a) | 304 | ||||||
1,434 | Fortinet, Inc. (a) | 63 | ||||||
327 | Guidewire Software, Inc. (a) | 24 | ||||||
8,665 | Intuit, Inc. | 1,367 | ||||||
637 | Manhattan Associates, Inc. (a) | 32 | ||||||
234,662 | Microsoft Corp. | 20,072 | ||||||
76,110 | Oracle Corp. | 3,598 | ||||||
1,114 | PTC, Inc. (a) | 68 | ||||||
101,508 | Red Hat, Inc. (a) | 12,191 | ||||||
150,285 | Salesforce.com, Inc. (a) | 15,364 | ||||||
66,571 | SAP AG, ADR | 7,480 | ||||||
1,619 | ServiceNow, Inc. (a) | 211 | ||||||
21,168 | Splunk, Inc. (a) | 1,754 | ||||||
1,505 | SS&C Technologies Holdings, Inc. | 61 | ||||||
5,935 | Symantec Corp. | 167 | ||||||
151 | Synopsys, Inc. (a) | 13 | ||||||
615 | Tableau Software, Inc., Class – A (a) | 43 | ||||||
1,073 | Take-Two Interactive Software, Inc. (a) | 118 | ||||||
271 | The Ultimate Software Group, Inc. (a) | 59 | ||||||
327 | Tyler Technologies, Inc. (a) | 58 | ||||||
2,596 | VMware, Inc., Class – A (a) | 325 | ||||||
19,336 | Workday, Inc., Class – A (a) | 1,967 | ||||||
|
| |||||||
84,139 | ||||||||
|
| |||||||
Specialty Retail — 4.64% | ||||||||
1,575 | Aaron’s, Inc. | 63 | ||||||
1,892 | Advance Auto Parts, Inc. | 189 | ||||||
929 | AutoZone, Inc. (a) | 661 | ||||||
4,161 | Bed Bath & Beyond, Inc. | 92 | ||||||
6,999 | Best Buy Co., Inc. | 479 | ||||||
376 | Burlington Stores, Inc. (a) | 46 | ||||||
1,786 | CarMax, Inc. (a) | 115 | ||||||
2,827 | Dick’s Sporting Goods, Inc. | 81 | ||||||
234 | Floor & Decor Holdings, Inc. (a) | 11 | ||||||
200 | Foot Locker, Inc. | 9 | ||||||
2,565 | GameStop Corp., Class – A | 46 | ||||||
5,909 | Gap, Inc. | 201 | ||||||
64,310 | Industria de Diseno Textil SA, ADR | 1,120 | ||||||
416 | L Brands, Inc. | 25 | ||||||
89,551 | Lowe’s Companies, Inc. | 8,323 | ||||||
842 | Michaels Companies, Inc. The (a) | 20 | ||||||
3,103 | O’Reilly Automotive, Inc. (a) | 746 | ||||||
13,167 | Ross Stores, Inc. | 1,057 | ||||||
555 | Sally Beauty Holdings, Inc. (a) | 10 | ||||||
33,380 | The Home Depot, Inc. | 6,327 | ||||||
118,371 | The TJX Cos., Inc. | 9,051 | ||||||
2,601 | Tiffany & Co. | 270 | ||||||
1,256 | Tractor Supply Co. | 94 | ||||||
35,022 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 7,833 |
Shares | Security Description | Value (000) | ||||||
Specialty Retail (continued) | ||||||||
2,136 | Urban Outfitters, Inc. (a) | $ | 75 | |||||
236 | Williams-Sonoma, Inc. | 12 | ||||||
|
| |||||||
36,956 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 3.22% | ||||||||
150,073 | Apple, Inc. | 25,397 | ||||||
1,145 | NCR Corp. (a) | 39 | ||||||
2,245 | NetApp, Inc. | 124 | ||||||
384 | Western Digital Corp. | 31 | ||||||
|
| |||||||
25,591 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 2.22% | ||||||||
4,539 | adidas AG, ADR | 453 | ||||||
1,715 | Carter’s, Inc. | 201 | ||||||
3,539 | Hanesbrands, Inc. | 74 | ||||||
49,348 | Kering, ADR | 2,323 | ||||||
3,488 | Lululemon Athletica, Inc. (a) | 274 | ||||||
4,431 | Michael Kors Holdings Ltd. (a) | 279 | ||||||
201,563 | NIKE, Inc., Class – B | 12,608 | ||||||
1,462 | Ralph Lauren Corp. | 152 | ||||||
611 | Skechers USA, Inc., Class – A (a) | 23 | ||||||
6,792 | Tapestry, Inc. | 300 | ||||||
5,686 | Under Armour, Inc., Class – A^ (a) | 82 | ||||||
5,745 | Under Armour, Inc., Class – C (a) | 77 | ||||||
10,165 | V.F. Corp. | 752 | ||||||
|
| |||||||
17,598 | ||||||||
|
| |||||||
Tobacco — 0.73% | ||||||||
18,541 | Altria Group, Inc. | 1,324 | ||||||
9,903 | British American Tobacco PLC, ADR | 663 | ||||||
36,785 | Philip Morris International, Inc. | 3,886 | ||||||
|
| |||||||
5,873 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.18% | ||||||||
106 | Air Lease Corp. | 5 | ||||||
9,541 | Fastenal Co. | 521 | ||||||
1,918 | HD Supply Holdings, Inc. (a) | 77 | ||||||
1,298 | MSC Industrial Direct Co., Inc., Class – A | 125 | ||||||
2,638 | NOW, Inc. (a) | 29 | ||||||
818 | United Rentals, Inc. (a) | 141 | ||||||
1,119 | Univar, Inc. (a) | 35 | ||||||
1,899 | W.W. Grainger, Inc. | 449 | ||||||
286 | Watsco, Inc. | 49 | ||||||
|
| |||||||
1,431 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.01% | ||||||||
1,723 | T-Mobile USA, Inc. (a) | 109 | ||||||
|
| |||||||
Total Common Stocks | 751,137 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.00% | ||||||||
$ | 16 | U.S. Treasury Bill, 1.26%, 3/8/18 (b)(c) | 16 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 16 | |||||||
|
|
See accompanying notes to financial statements.
27
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Time Deposit — 1.50% | ||||||||
$ | 11,900 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.39%, 1/2/18 | $ | 11,900 | ||||
|
| |||||||
Total Time Deposit | 11,900 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 7.06% | ||||||||
35,839 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 36 | ||||||
1 | State Street Institutional Treasury Money Market Fund, 1.15% (d) | — | ||||||
56,137,350 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 56,137 | ||||||
|
| |||||||
Total Mutual Funds | 56,173 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.00% | ||||||||
$ | 33 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $33,351 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $34,012)^^ | 33 | |||||
|
| |||||||
Total Repurchase Agreement | 33 | |||||||
|
| |||||||
Total Investments | 819,259 | |||||||
Liabilities in excess of other | (23,302 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 795,957 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $62 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
28
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Growth Equity Portfolio | Jennison Associates, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | Sustainable Growth Advisers, LP | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 23.12 | % | 40.86 | % | — | 30.39 | % | — | 94.37 | % | ||||||||||||||
U.S. Treasury Obligation | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
Time Deposit | 0.64 | % | — | — | 0.86 | % | — | 1.50 | % | |||||||||||||||
Mutual Funds | — | 0.27 | % | 6.45 | % | — | 0.34 | % | 7.06 | % | ||||||||||||||
Repurchase Agreement | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.15 | % | 0.09 | % | -2.89 | % | 0.02 | % | 0.00 | % | -2.93 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 23.61 | % | 41.22 | % | 3.56 | % | 31.27 | % | 0.34 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
E-Mini NASDAQ 100 Future | 92 | 3/16/18 | $ | 11,855 | $ | 11,792 | $ | (63 | ) | |||||||||
E-Mini S&P 500 Future | 131 | 3/16/18 | 17,565 | 17,528 | (37 | ) | ||||||||||||
E-Mini S&P Midcap 400 Future | 6 | 3/16/18 | 1,144 | 1,141 | (3 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 30,564 | $ | 30,461 | $ | (103 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | — | ||||||||||||||||
Total Unrealized Depreciation | (103 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | (103 | ) | |||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
29
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 92.08% | ||||||||
Aerospace & Defense — 2.18% | ||||||||
1,181 | BWX Technologies, Inc. | $ | 71 | |||||
12,019 | General Dynamics Corp. | 2,445 | ||||||
313 | HEICO Corp. | 30 | ||||||
585 | HEICO Corp., Class – A | 46 | ||||||
807 | Hexcel Corp. | 50 | ||||||
475 | Huntington Ingalls Industries, Inc. | 112 | ||||||
3,152 | L3 Technologies, Inc. | 624 | ||||||
13,260 | Lockheed Martin Corp. | 4,257 | ||||||
2,050 | Northrop Grumman Corp. | 629 | ||||||
13,076 | Raytheon Co. | 2,456 | ||||||
7,186 | Rockwell Collins, Inc. | 975 | ||||||
29,527 | The Boeing Co. | 8,708 | ||||||
605 | TransDigm Group, Inc. | 166 | ||||||
31,952 | United Technologies Corp. | 4,076 | ||||||
|
| |||||||
24,645 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.28% | ||||||||
7,345 | C.H. Robinson Worldwide, Inc. | 654 | ||||||
8,899 | Expeditors International of Washington, Inc. | 576 | ||||||
3,158 | FedEx Corp. | 788 | ||||||
8,803 | United Parcel Service, Inc., Class – B | 1,049 | ||||||
1,086 | XPO Logistics, Inc. (a) | 99 | ||||||
|
| |||||||
3,166 | ||||||||
|
| |||||||
Airlines — 0.07% | ||||||||
1,235 | Alaska Air Group, Inc. | 91 | ||||||
2,415 | American Airlines Group, Inc. | 126 | ||||||
27 | Copa Holdings SA, Class – A | 4 | ||||||
7,098 | Southwest Airlines Co. | 464 | ||||||
2,983 | Spirit Airlines, Inc. (a) | 134 | ||||||
|
| |||||||
819 | ||||||||
|
| |||||||
Auto Components — 0.05% | ||||||||
3,381 | Aptiv PLC (a) | 287 | ||||||
327 | BorgWarner, Inc. | 17 | ||||||
1,127 | Delphi Technologies PLC (a) | 59 | ||||||
2,208 | Gentex Corp. | 46 | ||||||
721 | Lear Corp. | 128 | ||||||
417 | Visteon Corp. (a) | 52 | ||||||
|
| |||||||
589 | ||||||||
|
| |||||||
Automobiles — 0.44% | ||||||||
1,684 | Harley-Davidson, Inc. | 86 | ||||||
15,314 | Tesla Motors, Inc. (a) | 4,767 | ||||||
615 | Thor Industries, Inc. | 93 | ||||||
|
| |||||||
4,946 | ||||||||
|
| |||||||
Banks — 0.60% | ||||||||
703 | Bank of the Ozarks, Inc. | 34 | ||||||
12,112 | Citizens Financial Group, Inc. | 508 | ||||||
2,258 | Cullen/Frost Bankers, Inc. | 214 | ||||||
104 | East West Bancorp, Inc. | 6 | ||||||
7,101 | First Republic Bank | 615 | ||||||
48,857 | JPMorgan Chase & Co. | 5,226 | ||||||
268 | Pinnacle Financial Partners, Inc. | 18 | ||||||
397 | Signature Bank (a) | 54 | ||||||
485 | SVB Financial Group (a) | 113 | ||||||
669 | Western Alliance Bancorp (a) | 38 | ||||||
|
| |||||||
6,826 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Beverages — 2.12% | ||||||||
609 | Brown-Forman Corp., Class – A | $ | 41 | |||||
13,419 | Brown-Forman Corp., Class – B | 921 | ||||||
2,057 | Constellation Brands, Inc., Class – A | 470 | ||||||
9,647 | Dr. Pepper Snapple Group, Inc. | 936 | ||||||
72,171 | Monster Beverage Corp. (a) | 4,568 | ||||||
72,491 | PepsiCo, Inc. | 8,694 | ||||||
182,726 | The Coca-Cola Co. | 8,383 | ||||||
|
| |||||||
24,013 | ||||||||
|
| |||||||
Biotechnology — 3.26% | ||||||||
47,158 | AbbVie, Inc. | 4,561 | ||||||
1,158 | Acadia Pharmaceuticals, Inc. (a) | 35 | ||||||
476 | Agios Pharmaceuticals, Inc. (a) | 27 | ||||||
25,096 | Alexion Pharmaceuticals, Inc. (a) | 3,001 | ||||||
1,900 | Alkermes PLC (a) | 104 | ||||||
934 | Alnylam Pharmaceuticals, Inc. (a) | 119 | ||||||
32,255 | Amgen, Inc. | 5,609 | ||||||
2,543 | Biogen Idec, Inc. (a) | 810 | ||||||
35,030 | BioMarin Pharmaceutical, Inc. (a) | 3,124 | ||||||
1,353 | Bioverativ, Inc. (a) | 73 | ||||||
46,107 | Celgene Corp. (a) | 4,812 | ||||||
3,621 | Exelixis, Inc. (a) | 110 | ||||||
11,836 | Gilead Sciences, Inc. | 848 | ||||||
2,205 | Incyte Corp. (a) | 209 | ||||||
223 | Intercept Pharmaceuticals, Inc. (a) | 13 | ||||||
523 | Intrexon Corp. (a) | 6 | ||||||
1,539 | Ionis Pharmaceuticals, Inc. (a) | 77 | ||||||
1,089 | Neurocrine Biosciences, Inc. (a) | 84 | ||||||
908 | OPKO Health, Inc. (a) | 4 | ||||||
26,945 | Regeneron Pharmaceuticals, Inc. (a) | 10,130 | ||||||
1,193 | Seattle Genetics, Inc. (a) | 64 | ||||||
465 | Tesaro, Inc. (a) | 39 | ||||||
20,401 | Vertex Pharmaceuticals, Inc. (a) | 3,057 | ||||||
|
| |||||||
36,916 | ||||||||
|
| |||||||
Building Products — 0.05% | ||||||||
1,795 | A.O. Smith Corp. | 110 | ||||||
1,190 | Allegion PLC | 95 | ||||||
523 | Armstrong World Industries, Inc. (a) | 32 | ||||||
1,797 | Fortune Brands Home & Security, Inc. | 123 | ||||||
448 | Lennox International, Inc. | 93 | ||||||
2,612 | Masco Corp. | 115 | ||||||
|
| |||||||
568 | ||||||||
|
| |||||||
Capital Markets — 1.80% | ||||||||
1,722 | Ameriprise Financial, Inc. | 292 | ||||||
693 | BGC Partners, Inc., Class – A | 10 | ||||||
4,572 | CBOE Holdings, Inc. | 570 | ||||||
12,202 | CME Group, Inc. | 1,782 | ||||||
1,380 | Eaton Vance Corp. | 78 | ||||||
2,212 | FactSet Research Systems, Inc. | 426 | ||||||
4,260 | Federated Investors, Inc., Class – B | 154 | ||||||
15,081 | Franklin Resources, Inc. | 653 | ||||||
17,737 | Goldman Sachs Group, Inc. | 4,519 | ||||||
3,554 | IntercontinentalExchange Group, Inc. | 251 | ||||||
758 | Invesco Ltd. | 28 | ||||||
1,391 | Lazard Ltd., Class – A | 73 |
See accompanying notes to financial statements.
30
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Capital Markets (continued) | ||||||||
241 | Legg Mason, Inc. | $ | 10 | |||||
1,124 | LPL Financial Holdings, Inc. | 64 | ||||||
458 | MarketAxess Holdings, Inc. | 92 | ||||||
2,116 | Moody’s Corp. | 312 | ||||||
50,412 | Morgan Stanley | 2,645 | ||||||
1,006 | Morningstar, Inc. | 98 | ||||||
1,110 | MSCI, Inc. Common | 140 | ||||||
395 | Raymond James Financial, Inc. | 35 | ||||||
30,383 | S&P Global, Inc. | 5,148 | ||||||
7,031 | SEI Investments Co. | 505 | ||||||
227 | State Street Corp. | 22 | ||||||
10,460 | T. Rowe Price Group, Inc. | 1,098 | ||||||
13,229 | TD Ameritrade Holding Corp. | 676 | ||||||
11,966 | The Charles Schwab Corp. | 615 | ||||||
3,403 | Waddell & Reed Financial, Inc., Class – A | 76 | ||||||
|
| |||||||
20,372 | ||||||||
|
| |||||||
Chemicals — 2.20% | ||||||||
8,191 | Air Products & Chemicals, Inc. | 1,344 | ||||||
24,940 | Albemarle Corp. | 3,190 | ||||||
2,717 | Axalta Coating Systems Ltd. (a) | 88 | ||||||
1,044 | Celanese Corp., Series A | 112 | ||||||
14,227 | DowDuPont, Inc. | 1,013 | ||||||
95,512 | Ecolab, Inc. | 12,815 | ||||||
1,711 | FMC Corp. | 162 | ||||||
1,154 | Huntsman Corp. | 38 | ||||||
4,124 | International Flavors & Fragrances, Inc. | 629 | ||||||
1,847 | LyondellBasell Industries N.V., Class – A | 204 | ||||||
5,601 | Monsanto Co. | 654 | ||||||
83 | NewMarket Corp. | 33 | ||||||
1,204 | Platform Specialty Products Corp. (a) | 12 | ||||||
3,014 | PPG Industries, Inc. | 352 | ||||||
14,227 | Praxair, Inc. | 2,201 | ||||||
1,538 | RPM International, Inc. | 81 | ||||||
2,316 | The Chemours Co. | 116 | ||||||
503 | The Scotts Miracle-Gro Co. | 54 | ||||||
4,136 | The Sherwin-Williams Co. | 1,696 | ||||||
833 | W.R. Grace & Co. | 58 | ||||||
212 | Westlake Chemical Corp. | 23 | ||||||
|
| |||||||
24,875 | ||||||||
|
| |||||||
Commercial Services & Supplies — 0.25% | ||||||||
4,724 | Cintas Corp. | 737 | ||||||
440 | Clean Harbors, Inc. (a) | 24 | ||||||
11,794 | Copart, Inc. (a) | 509 | ||||||
1,710 | KAR Auction Services, Inc. | 86 | ||||||
5,098 | Rollins, Inc. | 237 | ||||||
3,427 | Stericycle, Inc. (a) | 233 | ||||||
7,187 | Waste Connections, Inc. | 510 | ||||||
4,646 | Waste Management, Inc. | 401 | ||||||
|
| |||||||
2,737 | ||||||||
|
| |||||||
Communications Equipment — 0.84% | ||||||||
2,053 | Arista Networks, Inc. (a) | 484 | ||||||
198,366 | Cisco Systems, Inc. | 7,597 | ||||||
1,254 | Commscope Holding, Inc. (a) | 47 |
Shares | Security Description | Value (000) | ||||||
Communications Equipment (continued) | ||||||||
3,615 | F5 Networks, Inc. (a) | $ | 474 | |||||
5,165 | Harris Corp. | 732 | ||||||
202 | Motorola Solutions, Inc. | 18 | ||||||
1,136 | Palo Alto Networks, Inc. (a) | 165 | ||||||
|
| |||||||
9,517 | ||||||||
|
| |||||||
Construction & Engineering — 0.06% | ||||||||
5,721 | Fluor Corp. | 295 | ||||||
5,194 | Jacobs Engineering Group, Inc. | 343 | ||||||
515 | Quanta Services, Inc. (a) | 20 | ||||||
|
| |||||||
658 | ||||||||
|
| |||||||
Construction Materials — 0.04% | ||||||||
596 | Eagle Materials, Inc., Class – A | 68 | ||||||
710 | Martin Marietta Materials, Inc. | 157 | ||||||
1,556 | Vulcan Materials Co. | 199 | ||||||
|
| |||||||
424 | ||||||||
|
| |||||||
Consumer Finance — 0.12% | ||||||||
361 | Capital One Financial Corp. | 36 | ||||||
125 | Credit Acceptance Corp. (a) | 40 | ||||||
32,216 | Synchrony Financial | 1,244 | ||||||
|
| |||||||
1,320 | ||||||||
|
| |||||||
Containers & Packaging — 0.13% | ||||||||
2,742 | AptarGroup, Inc. | 237 | ||||||
167 | Ardagh Group SA | 4 | ||||||
1,039 | Avery Dennison Corp. | 119 | ||||||
2,527 | Ball Corp. | 96 | ||||||
1,616 | Berry Plastics Group, Inc. (a) | 95 | ||||||
1,208 | Crown Holdings, Inc. (a) | 68 | ||||||
2,709 | Graphic Packaging Holding Co. | 42 | ||||||
4,745 | International Paper Co. | 275 | ||||||
1,642 | Owens-Illinois, Inc. (a) | 36 | ||||||
1,167 | Packaging Corporation of America | 141 | ||||||
1,409 | Sealed Air Corp. | 69 | ||||||
1,034 | Silgan Holdings | 30 | ||||||
4,087 | Sonoco Products Co. | 217 | ||||||
|
| |||||||
1,429 | ||||||||
|
| |||||||
Distributors — 0.11% | ||||||||
6,552 | Genuine Parts Co. | 622 | ||||||
12,481 | LKQ Corp. (a) | 508 | ||||||
510 | Pool Corp. | 66 | ||||||
|
| |||||||
1,196 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.02% | ||||||||
679 | Bright Horizons Family Solutions, Inc. (a) | 64 | ||||||
379 | H&R Block, Inc. | 10 | ||||||
2,246 | Service Corporation International | 84 | ||||||
1,692 | ServiceMaster Global Holdings, Inc. (a) | 86 | ||||||
|
| |||||||
244 | ||||||||
|
| |||||||
Diversified Financial Services — 0.00% | ||||||||
911 | Leucadia National Corp. | 24 | ||||||
128 | Voya Financial, Inc. | 6 | ||||||
|
| |||||||
30 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.13% | ||||||||
26,064 | Verizon Communications, Inc. | 1,379 | ||||||
2,305 | Zayo Group Holdings, Inc. (a) | 85 | ||||||
|
| |||||||
1,464 | ||||||||
|
|
See accompanying notes to financial statements.
31
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Electrical Equipment — 0.30% | ||||||||
397 | Acuity Brands, Inc. | $ | 70 | |||||
9,823 | AMETEK, Inc. | 712 | ||||||
27,137 | Emerson Electric Co. | 1,891 | ||||||
2,813 | Hubbell, Inc. | 381 | ||||||
1,635 | Rockwell Automation, Inc. | 321 | ||||||
1,087 | Sensata Technologies Holding N.V. (a) | 56 | ||||||
|
| |||||||
3,431 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 0.38% |
| |||||||
15,755 | Amphenol Corp., Class – A | 1,383 | ||||||
1,971 | CDW Corporation of Delaware | 137 | ||||||
2,070 | Cognex Corp. | 127 | ||||||
307 | Coherent, Inc. (a) | 87 | ||||||
49,337 | Corning, Inc. | 1,578 | ||||||
1,989 | Dolby Laboratories, Inc., Class – A | 123 | ||||||
6,656 | FLIR Systems, Inc. | 310 | ||||||
445 | IPG Photonics Corp. (a) | 95 | ||||||
5,681 | National Instruments Corp. | 237 | ||||||
2,473 | Trimble Navigation Ltd. (a) | 101 | ||||||
521 | Universal Display Corp. | 90 | ||||||
647 | Zebra Technologies Corp., Class – A (a) | 67 | ||||||
|
| |||||||
4,335 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.54% | ||||||||
59,369 | Core Laboratories N.V. | 6,503 | ||||||
1,605 | Dril-Quip, Inc. (a) | 77 | ||||||
1,432 | Franks International N.V. | 9 | ||||||
7,444 | Halliburton Co. | 364 | ||||||
4,023 | Helmerich & Payne, Inc. | 260 | ||||||
15,187 | National Oilwell Varco, Inc. | 546 | ||||||
4,045 | Oceaneering International, Inc. | 86 | ||||||
634 | RPC, Inc. | 16 | ||||||
135,467 | Schlumberger Ltd. | 9,129 | ||||||
9,525 | TechnipFMC PLC | 298 | ||||||
|
| |||||||
17,288 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 1.29% | ||||||||
5,387 | American Tower Corp. | 769 | ||||||
309 | Boston Properties, Inc. | 40 | ||||||
4,782 | CoreCivic, Inc. | 108 | ||||||
432 | Coresite Realty Corp. | 49 | ||||||
18,937 | Crown Castle International Corp. | 2,102 | ||||||
1,575 | CubeSmart | 46 | ||||||
1,003 | CyrusOne, Inc. | 60 | ||||||
1,976 | Digital Realty Trust, Inc. | 225 | ||||||
1,623 | Douglas Emmett, Inc. | 67 | ||||||
20,697 | Equinix, Inc. | 9,379 | ||||||
1,011 | Equity Lifestyle Properties, Inc. | 90 | ||||||
1,316 | Extra Space Storage, Inc. | 115 | ||||||
386 | Federal Realty Investment Trust | 51 | ||||||
898 | Gaming & Leisure Properties, Inc. | 33 | ||||||
191 | Hudson Pacific Property, Inc. | 7 | ||||||
3,066 | Iron Mountain, Inc. | 116 | ||||||
981 | Lamar Advertising Co., Class – A | 73 | ||||||
215 | Outfront Media, Inc. | 5 | ||||||
1,880 | Public Storage | 393 |
Shares | Security Description | Value (000) | ||||||
Equity Real Estate Investment Trusts (continued) | ||||||||
1,532 | SBA Communications Corp. (a) | $ | 250 | |||||
3,576 | Simon Property Group, Inc. | 614 | ||||||
214 | Tanger Factory Outlet Centers, Inc. | 6 | ||||||
355 | Taubman Centers, Inc. | 23 | ||||||
|
| |||||||
14,621 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.99% | ||||||||
46,217 | Costco Wholesale Corp. | 8,601 | ||||||
43,828 | CVS Caremark Corp. | 3,178 | ||||||
7,003 | Rite Aid Corp. (a) | 14 | ||||||
8,052 | Sprouts Farmers Market, Inc. (a) | 196 | ||||||
29,027 | Sysco Corp. | 1,763 | ||||||
6,157 | The Kroger Co. | 169 | ||||||
35,365 | Walgreens Boots Alliance, Inc. | 2,568 | ||||||
60,988 | Wal-Mart Stores, Inc. | 6,023 | ||||||
|
| |||||||
22,512 | ||||||||
|
| |||||||
Food Products — 1.09% | ||||||||
1,148 | Blue Buffalo Pet Products, Inc. (a) | 38 | ||||||
8,596 | Campbell Soup Co. | 414 | ||||||
7,039 | Flowers Foods, Inc. | 136 | ||||||
5,296 | General Mills, Inc. | 314 | ||||||
7,129 | Hershey Co. | 809 | ||||||
10,240 | Hormel Foods Corp. | 373 | ||||||
2,918 | Kellogg Co. | 198 | ||||||
558 | Lamb Weston Holding, Inc. | 31 | ||||||
6,335 | McCormick & Company, Inc. | 646 | ||||||
205,115 | Mondelez International, Inc., Class – A | 8,778 | ||||||
565 | Pilgrim’s Pride Corp. (a) | 18 | ||||||
4,550 | The J.M. Smucker Co. | 565 | ||||||
222 | TreeHouse Foods, Inc. (a) | 11 | ||||||
|
| |||||||
12,331 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 2.22% | ||||||||
66,939 | Abbott Laboratories | 3,821 | ||||||
520 | Abiomed, Inc. (a) | 97 | ||||||
1,015 | Align Technology, Inc. (a) | 226 | ||||||
21,433 | Baxter International, Inc. | 1,385 | ||||||
12,805 | Becton, Dickinson & Co. | 2,742 | ||||||
17,352 | Boston Scientific Corp. (a) | 430 | ||||||
22,916 | Danaher Corp. | 2,127 | ||||||
9,288 | Dentsply Sirona, Inc. | 611 | ||||||
1,065 | DexCom, Inc. (a) | 61 | ||||||
10,936 | Edwards Lifesciences Corp. (a) | 1,233 | ||||||
772 | Hill-Rom Holdings, Inc. | 65 | ||||||
1,987 | Hologic, Inc. (a) | 85 | ||||||
4,760 | IDEXX Laboratories, Inc. (a) | 744 | ||||||
5,689 | Intuitive Surgical, Inc. (a) | 2,076 | ||||||
56,270 | Medtronic PLC | 4,543 | ||||||
7,141 | ResMed, Inc. | 605 | ||||||
17,221 | Stryker Corp. | 2,666 | ||||||
108 | Teleflex, Inc. | 27 | ||||||
468 | The Cooper Companies, Inc. | 102 | ||||||
1,623 | Varex Imaging Corp. (a) | 65 | ||||||
5,004 | Varian Medical Systems, Inc. (a) | 556 | ||||||
913 | West Pharmaceutical Services, Inc. | 90 | ||||||
6,543 | Zimmer Holdings, Inc. | 790 | ||||||
|
| |||||||
25,147 | ||||||||
|
|
See accompanying notes to financial statements.
32
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Health Care Providers & Services — 3.25% | ||||||||
14,806 | Aetna, Inc. | $ | 2,671 | |||||
2,004 | AmerisourceBergen Corp. | 184 | ||||||
10,209 | Anthem, Inc. | 2,297 | ||||||
275 | Centene Corp. (a) | 28 | ||||||
2,678 | CIGNA Corp. | 544 | ||||||
26,518 | Express Scripts Holding Co. (a) | 1,979 | ||||||
349 | HCA Holdings, Inc. (a) | 31 | ||||||
8,433 | Henry Schein, Inc. (a) | 589 | ||||||
1,724 | Humana, Inc. | 428 | ||||||
3,850 | Laboratory Corporation of America Holdings (a) | 614 | ||||||
74 | LifePoint Hospitals, Inc. (a) | 4 | ||||||
9,298 | McKesson Corp. | 1,450 | ||||||
3,747 | MEDNAX, Inc. (a) | 200 | ||||||
3,688 | Patterson Companies, Inc. | 133 | ||||||
134 | Premier, Inc., Class – A (a) | 4 | ||||||
5,494 | Quest Diagnostics, Inc. | 541 | ||||||
111,678 | UnitedHealth Group, Inc. | 24,621 | ||||||
3,532 | Universal Health Services, Inc., Class – B | 400 | ||||||
511 | WellCare Health Plans, Inc. (a) | 103 | ||||||
|
| |||||||
36,821 | ||||||||
|
| |||||||
Health Care Technology — 0.76% | ||||||||
492 | athenahealth, Inc. (a) | 65 | ||||||
122,394 | Cerner Corp. (a) | 8,249 | ||||||
4,385 | Veeva Systems, Inc. (a) | 242 | ||||||
|
| |||||||
8,556 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 4.96% | ||||||||
1,346 | Aramark | 58 | ||||||
32,696 | Chipotle Mexican Grill, Inc. (a) | 9,450 | ||||||
1,856 | Choice Hotels International, Inc. | 144 | ||||||
1,590 | Darden Restaurants, Inc. | 153 | ||||||
603 | Domino’s Pizza, Inc. | 114 | ||||||
1,149 | Dunkin’ Brands Group, Inc. | 74 | ||||||
1,362 | Extended Stay America, Inc. | 26 | ||||||
873 | Hilton Grand Vacations (a) | 37 | ||||||
2,461 | Hilton Worldwide Holdings, Inc. | 197 | ||||||
4,563 | Las Vegas Sands Corp. | 317 | ||||||
51,347 | Marriott International, Inc., Class – A | 6,969 | ||||||
79,835 | McDonald’s Corp. | 13,741 | ||||||
573 | MGM Resorts International | 19 | ||||||
863 | Six Flags Entertainment Corp. | 57 | ||||||
231,437 | Starbucks Corp. | 13,291 | ||||||
2,268 | The Wendy’s Co. | 37 | ||||||
495 | Vail Resorts, Inc. | 105 | ||||||
1,299 | Wyndham Worldwide Corp. | 151 | ||||||
1,013 | Wynn Resorts Ltd. | 171 | ||||||
19,404 | Yum China Holdings, Inc. | 777 | ||||||
125,963 | YUM! Brands, Inc. | 10,280 | ||||||
|
| |||||||
56,168 | ||||||||
|
| |||||||
Household Durables — 0.07% | ||||||||
2,338 | D.R. Horton, Inc. | 119 | ||||||
4,866 | Garmin Ltd. | 290 | ||||||
1,362 | Leggett & Platt, Inc. | 65 | ||||||
50 | Mohawk Industries, Inc. (a) | 14 |
Shares | Security Description | Value (000) | ||||||
Household Durables (continued) | ||||||||
42 | NVR, Inc. (a) | $ | 147 | |||||
1,063 | PulteGroup, Inc. | 35 | ||||||
283 | Tempur Sealy International, Inc. (a) | 18 | ||||||
889 | Toll Brothers, Inc. | 43 | ||||||
607 | Tupperware Brands Corp. | 38 | ||||||
76 | Whirlpool Corp. | 13 | ||||||
|
| |||||||
782 | ||||||||
|
| |||||||
Household Products — 1.24% | ||||||||
13,211 | Church & Dwight Co., Inc. | 663 | ||||||
36,331 | Colgate-Palmolive Co. | 2,741 | ||||||
739 | Energizer Holdings, Inc. | 35 | ||||||
17,769 | Kimberly-Clark Corp. | 2,144 | ||||||
291 | Spectrum Brands Holdings, Inc. | 33 | ||||||
6,385 | The Clorox Co. | 950 | ||||||
81,796 | The Procter & Gamble Co. | 7,515 | ||||||
|
| |||||||
14,081 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.00% |
| |||||||
701 | NRG Energy, Inc., Class – C | 20 | ||||||
|
| |||||||
Industrial Conglomerates — 0.91% | ||||||||
31,847 | 3M Co. | 7,496 | ||||||
2,641 | Carlisle Companies, Inc. | 300 | ||||||
19,222 | General Electric Co. | 335 | ||||||
5,664 | Honeywell International, Inc. | 869 | ||||||
5,111 | Roper Industries, Inc. | 1,324 | ||||||
|
| |||||||
10,324 | ||||||||
|
| |||||||
Insurance — 0.49% | ||||||||
1,266 | Allstate Corp. | 133 | ||||||
1,402 | American International Group, Inc. | 84 | ||||||
14,089 | Aon PLC | 1,888 | ||||||
217 | Arch Capital Group Ltd. (a) | 20 | ||||||
1,522 | Arthur J. Gallagher & Co. | 96 | ||||||
221 | Aspen Insurance Holdings Ltd. | 9 | ||||||
132 | Assurant, Inc. | 13 | ||||||
4,734 | Brown & Brown, Inc. | 244 | ||||||
228 | Erie Indemnity Co., Class – A | 28 | ||||||
27,210 | Marsh & McLennan Companies, Inc. | 2,214 | ||||||
34 | RenaissanceRe Holdings Ltd. | 4 | ||||||
7,368 | The Progressive Corp. | 415 | ||||||
4,868 | Torchmark Corp. | 441 | ||||||
1,092 | XL Group Ltd. | 38 | ||||||
|
| |||||||
5,627 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 4.43% | ||||||||
23,810 | Amazon.com, Inc. (a) | 27,846 | ||||||
1,547 | Expedia, Inc. | 185 | ||||||
95 | Liberty Expedia Holdings, Class – A (a) | 4 | ||||||
3,579 | Liberty Interactive Corp., QVC Group (a) | 87 | ||||||
50,398 | Netflix, Inc. (a) | 9,674 | ||||||
6,993 | Priceline.com, Inc. (a) | 12,152 | ||||||
5,455 | TripAdvisor, Inc. (a) | 188 | ||||||
456 | Wayfair, Inc., Class – A (a) | 37 | ||||||
|
| |||||||
50,173 | ||||||||
|
| |||||||
Internet Software & Services — 7.87% | ||||||||
59,600 | Alibaba Group Holding Ltd., ADR (a) | 10,276 |
See accompanying notes to financial statements.
33
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Internet Software & Services (continued) | ||||||||
18,746 | Alphabet, Inc., Class – A (a) | $ | 19,747 | |||||
20,420 | Alphabet, Inc., Class – C (a) | 21,368 | ||||||
446 | CoStar Group, Inc. (a) | 132 | ||||||
155,722 | Facebook, Inc., Class – A (a) | 27,480 | ||||||
1,591 | GoDaddy, Inc., Class – A (a) | 80 | ||||||
891 | InterActiveCorp (a) | 109 | ||||||
1,547 | LogMeln, Inc. | 177 | ||||||
448 | Match Group, Inc. (a) | 14 | ||||||
2,798 | Pandora Media, Inc. (a) | 13 | ||||||
182,909 | Tencent Holdings Ltd., ADR | 9,497 | ||||||
496 | Twitter, Inc. (a) | 12 | ||||||
1,120 | VeriSign, Inc. (a) | 128 | ||||||
461 | Zillow Group, Inc., Class – A (a) | 19 | ||||||
931 | Zillow Group, Inc., Class – C (a) | 38 | ||||||
|
| |||||||
89,090 | ||||||||
|
| |||||||
IT Services — 9.56% | ||||||||
32,071 | Accenture PLC, Class – A | 4,910 | ||||||
35,887 | Alliance Data Systems Corp. | 9,097 | ||||||
5,988 | Amdocs Ltd. | 392 | ||||||
81,392 | Automatic Data Processing, Inc. | 9,538 | ||||||
1,376 | Black Knight, Inc. (a) | 61 | ||||||
1,700 | Booz Allen Hamilton Holding Corp. | 65 | ||||||
6,092 | Broadridge Financial Solutions, Inc. | 552 | ||||||
30,780 | Cognizant Technology Solutions Corp. | 2,186 | ||||||
638 | CoreLogic, Inc. (a) | 29 | ||||||
2,060 | CSRA, Inc. | 62 | ||||||
181 | DST Systems, Inc. | 11 | ||||||
3,605 | DXC Technology Co. | 342 | ||||||
629 | Euronet Worldwide, Inc. (a) | 53 | ||||||
2,386 | Fidelity National Information Services, Inc. | 224 | ||||||
6,023 | First Data Corp. (a) | 101 | ||||||
2,695 | Fiserv, Inc. (a) | 353 | ||||||
69,725 | FleetCor Technologies, Inc. (a) | 13,417 | ||||||
1,094 | Gartner Group, Inc. (a) | 135 | ||||||
1,913 | Genpact Ltd. | 61 | ||||||
7,025 | Global Payments, Inc. | 704 | ||||||
42,986 | International Business Machines Corp. | 6,595 | ||||||
4,099 | Jack Henry & Associates, Inc. | 479 | ||||||
103,509 | MasterCard, Inc., Class – A | 15,667 | ||||||
16,567 | Paychex, Inc. | 1,128 | ||||||
115,629 | PayPal Holdings, Inc. (a) | 8,513 | ||||||
2,094 | Sabre Corp. | 43 | ||||||
3,107 | Square, Inc., Class – A (a) | 108 | ||||||
302 | Switch, Inc., Class – A | 5 | ||||||
5,533 | Teradata Corp. (a) | 213 | ||||||
8,634 | Total System Services, Inc. | 683 | ||||||
2,048 | Vantive, Inc. (a) | 151 | ||||||
277,411 | Visa, Inc., Class – A | 31,631 | ||||||
25,873 | Western Union Co. | 492 | ||||||
402 | WEX, Inc. (a) | 57 | ||||||
|
| |||||||
108,058 | ||||||||
|
| |||||||
Leisure Products — 0.05% | ||||||||
888 | Brunswick Corp. | 49 | ||||||
1,117 | Hasbro, Inc. | 102 |
Shares | Security Description | Value (000) | ||||||
Leisure Products (continued) | ||||||||
1,059 | Mattel, Inc. | $ | 16 | |||||
3,538 | Polaris Industries, Inc. | 439 | ||||||
|
| |||||||
606 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.76% | ||||||||
1,009 | Agilent Technologies, Inc. | 68 | ||||||
2,011 | Bio-Techne Corp. | 261 | ||||||
591 | Bruker Biosciences Corp. | 20 | ||||||
588 | Charles River Laboratories International, Inc. (a) | 64 | ||||||
14,010 | Illumina, Inc. (a) | 3,061 | ||||||
1,286 | IQVIA Holdings, Inc. (a) | 126 | ||||||
1,393 | Mettler-Toledo International, Inc. (a) | 863 | ||||||
302 | PerkinElmer, Inc. | 22 | ||||||
897 | Qiagen N.V. (a) | 28 | ||||||
17,573 | Thermo Electron Corp. | 3,336 | ||||||
4,130 | Waters Corp. (a) | 798 | ||||||
|
| |||||||
8,647 | ||||||||
|
| |||||||
Machinery — 1.51% | ||||||||
1,674 | Allison Transmission Holdings, Inc. | 72 | ||||||
19,816 | Caterpillar, Inc. | 3,123 | ||||||
1,994 | Crane Co. | 178 | ||||||
642 | Cummins, Inc. | 113 | ||||||
4,042 | Deere & Co. | 633 | ||||||
7,161 | Donaldson Company, Inc. | 351 | ||||||
6,509 | Dover Corp. | 657 | ||||||
14,993 | Fortive Corp. | 1,085 | ||||||
823 | Gardner Denver Holdings, Inc. (a) | 28 | ||||||
2,064 | Graco, Inc. | 93 | ||||||
3,911 | IDEX Corp. | 516 | ||||||
15,375 | Illinois Tool Works, Inc. | 2,565 | ||||||
1,624 | Ingersoll-Rand PLC | 145 | ||||||
722 | Lincoln Electric Holdings, Inc. | 66 | ||||||
717 | Nordson, Inc. | 105 | ||||||
26,313 | Parker Hannifin Corp. | 5,251 | ||||||
2,369 | Snap-on, Inc. | 413 | ||||||
200 | Stanley Black & Decker, Inc. | 34 | ||||||
3,067 | The Middleby Corp. (a) | 414 | ||||||
1,316 | The Toro Co. | 86 | ||||||
630 | WABCO Holdings, Inc. (a) | 90 | ||||||
4,409 | Wabtec Corp. | 359 | ||||||
1,563 | Welbilt, Inc. (a) | 37 | ||||||
8,123 | Xylem, Inc. | 554 | ||||||
|
| |||||||
16,968 | ||||||||
|
| |||||||
Marine — 0.01% | ||||||||
2,280 | Kirby Corp. (a) | 152 | ||||||
|
| |||||||
Media — 1.39% | ||||||||
721 | AMC Networks, Inc. (a) | 39 | ||||||
57 | Cable One, Inc. | 40 | ||||||
4,439 | CBS Corp., Class – B | 262 | ||||||
12,439 | Charter Communications, Inc., Class – A (a) | 4,179 | ||||||
54,881 | Comcast Corp., Class – A | 2,198 | ||||||
2,126 | Dish Network Corp. (a) | 102 | ||||||
1,886 | John Wiley & Sons, Inc., Class – A | 124 | ||||||
390 | Lions Gate Entertainment Corp., Class – A (a) | 13 | ||||||
840 | Lions Gate Entertainment Corp., Class – B (a) | 27 |
See accompanying notes to financial statements.
34
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
1,714 | Live Nation Entertainment, Inc. (a) | $ | 73 | |||||
12,325 | Omnicom Group, Inc. | 898 | ||||||
364 | Regal Entertainment Group, Class – A | 8 | ||||||
4,372 | Scripps Networks Interactive, Class – A | 373 | ||||||
18,002 | Sirius XM Holdings, Inc. | 96 | ||||||
4,270 | The Interpublic Group of Companies, Inc. | 86 | ||||||
19 | The Madison Square Garden Co., Class – A (a) | 4 | ||||||
66,801 | The Walt Disney Co. | 7,182 | ||||||
929 | Twenty-First Century Fox, Inc. | 32 | ||||||
545 | Twenty-First Century Fox, Inc. | 19 | ||||||
|
| |||||||
15,755 | ||||||||
|
| |||||||
Metals & Mining — 0.01% | ||||||||
3,429 | Freeport-McMoRan Copper & Gold, Inc. (a) | 64 | ||||||
289 | Royal Gold, Inc. | 24 | ||||||
896 | Southern Copper Corp. | 43 | ||||||
462 | Steel Dynamics, Inc. | 20 | ||||||
|
| |||||||
151 | ||||||||
|
| |||||||
Multiline Retail — 0.40% | ||||||||
12,995 | Dollar General Corp. | 1,209 | ||||||
11,600 | Dollar Tree, Inc. (a) | 1,245 | ||||||
7,336 | Kohl’s Corp. | 398 | ||||||
1,454 | Nordstrom, Inc. | 69 | ||||||
24,568 | Target Corp. | 1,602 | ||||||
|
| |||||||
4,523 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 1.80% | ||||||||
1,351 | Antero Resources Corp. (a) | 26 | ||||||
236 | Apache Corp. | 10 | ||||||
4,049 | Cabot Oil & Gas Corp. | 116 | ||||||
1,693 | Cheniere Energy, Inc. (a) | 91 | ||||||
493 | Chesapeake Energy Corp. (a) | 2 | ||||||
68,903 | Chevron Corp. | 8,626 | ||||||
1,097 | Cimarex Energy Co. | 134 | ||||||
13,954 | Concho Resources, Inc. (a) | 2,096 | ||||||
490 | Continental Resources, Inc. (a) | 26 | ||||||
590 | Devon Energy Corp. | 24 | ||||||
280 | Diamondback Energy, Inc. (a) | 35 | ||||||
17,925 | EOG Resources, Inc. | 1,934 | ||||||
381 | EQT Corp. | 22 | ||||||
79,276 | Exxon Mobil Corp. | 6,631 | ||||||
183 | Gulfport Energy Corp. (a) | 2 | ||||||
1,927 | Laredo Petroleum, Inc. (a) | 20 | ||||||
2,497 | Newfield Exploration Co. (a) | 79 | ||||||
4,584 | ONEOK, Inc. | 245 | ||||||
1,928 | Parsley Energy, Inc., Class – A (a) | 57 | ||||||
785 | RSP Permian, Inc. (a) | 32 | ||||||
1,531 | The Williams Companies, Inc. | 47 | ||||||
2,996 | World Fuel Services Corp. | 84 | ||||||
|
| |||||||
20,339 | ||||||||
|
| |||||||
Personal Products — 0.51% | ||||||||
884 | Herbalife Ltd. (a) | 60 | ||||||
2,534 | Nu Skin Enterprises, Inc., Class – A | 173 | ||||||
43,416 | The Estee Lauder Companies, Inc., Class – A | 5,524 | ||||||
|
| |||||||
5,757 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Pharmaceuticals — 3.33% | ||||||||
1,027 | Akorn, Inc. (a) | $ | 33 | |||||
7,576 | Allergan PLC | 1,239 | ||||||
99,103 | Bristol-Myers Squibb Co. | 6,073 | ||||||
50,420 | Eli Lilly & Co. | 4,258 | ||||||
64,688 | Johnson & Johnson | 9,039 | ||||||
110,231 | Merck & Co., Inc. | 6,203 | ||||||
193,962 | Novo Nordisk A/S, Class – B, ADR | 10,410 | ||||||
6,249 | Zoetis, Inc. | 450 | ||||||
|
| |||||||
37,705 | ||||||||
|
| |||||||
Professional Services — 0.23% | ||||||||
6,134 | Equifax, Inc. | 723 | ||||||
12,509 | IHS Markit Ltd. (a) | 564 | ||||||
7,020 | Robert Half International, Inc. | 390 | ||||||
187 | The Dun & Bradstreet Corp. | 22 | ||||||
2,001 | Transunion Holding Company, Inc. (a) | 110 | ||||||
8,451 | Versik Analytics, Inc., Class – A (a) | 812 | ||||||
|
| |||||||
2,621 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.01% | ||||||||
1,765 | CBRE Group, Inc., Class – A (a) | 76 | ||||||
|
| |||||||
Road & Rail — 1.61% | ||||||||
48,446 | CSX Corp. | 2,665 | ||||||
82,410 | Hunt (JB) Transportation Services, Inc. | 9,476 | ||||||
2,300 | Landstar System, Inc. | 239 | ||||||
509 | Old Dominion Freight Line, Inc. | 67 | ||||||
42,963 | Union Pacific Corp. | 5,761 | ||||||
|
| |||||||
18,208 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 2.79% | ||||||||
10,688 | Advanced Micro Devices, Inc. (a) | 110 | ||||||
18,853 | Analog Devices, Inc. | 1,678 | ||||||
13,710 | Applied Materials, Inc. | 701 | ||||||
24,659 | Broadcom Ltd. | 6,335 | ||||||
825 | Cavium, Inc. (a) | 69 | ||||||
328 | Cypress Semiconductor Corp. | 5 | ||||||
183,908 | Intel Corp. | 8,490 | ||||||
1,989 | KLA-Tencor Corp. | 209 | ||||||
2,050 | Lam Research Corp. | 377 | ||||||
3,580 | Maxim Integrated Products, Inc. | 187 | ||||||
2,907 | Microchip Technology, Inc. | 255 | ||||||
10,503 | Micron Technology, Inc. (a) | 432 | ||||||
1,172 | Microsemi Corp. (a) | 61 | ||||||
32,897 | NVIDIA Corp. | 6,366 | ||||||
2,457 | NXP Semiconductors N.V. (a) | 288 | ||||||
4,939 | ON Semiconductor Corp. (a) | 103 | ||||||
835 | Qorvo, Inc. (a) | 56 | ||||||
58,860 | Qualcomm, Inc. | 3,768 | ||||||
2,328 | Skyworks Solutions, Inc. | 221 | ||||||
2,324 | Teradyne, Inc. | 97 | ||||||
12,735 | Texas Instruments, Inc. | 1,330 | ||||||
4,566 | Versum Materials, Inc. | 173 | ||||||
2,957 | Xilinx, Inc. | 199 | ||||||
|
| |||||||
31,510 | ||||||||
|
| |||||||
Software — 9.90% | ||||||||
59,095 | Activision Blizzard, Inc. | 3,742 | ||||||
45,949 | Adobe Systems, Inc. (a) | 8,052 |
See accompanying notes to financial statements.
35
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Software (continued) | ||||||||
4,532 | ANSYS, Inc. (a) | $ | 669 | |||||
1,181 | Atlassian Corp. PLC, Class – A (a) | 54 | ||||||
97,264 | Autodesk, Inc. (a) | 10,196 | ||||||
3,490 | Cadence Design Systems, Inc. (a) | 146 | ||||||
1,716 | CDK Global, Inc. | 122 | ||||||
8,163 | Citrix Systems, Inc. (a) | 718 | ||||||
2,617 | Dell Technologies, Inc., Class – V (a) | 213 | ||||||
3,812 | Electronic Arts, Inc. (a) | 400 | ||||||
1,834 | Fortinet, Inc. (a) | 80 | ||||||
437 | Guidewire Software, Inc. (a) | 32 | ||||||
13,705 | Intuit, Inc. | 2,162 | ||||||
860 | Manhattan Associates, Inc. (a) | 43 | ||||||
335,124 | Microsoft Corp. | 28,668 | ||||||
126,486 | Oracle Corp. | 5,980 | ||||||
1,440 | PTC, Inc. (a) | 88 | ||||||
125,326 | Red Hat, Inc. (a) | 15,052 | ||||||
195,772 | Salesforce.com, Inc. (a) | 20,015 | ||||||
79,329 | SAP AG, ADR | 8,913 | ||||||
2,111 | ServiceNow, Inc. (a) | 275 | ||||||
29,173 | Splunk, Inc. (a) | 2,417 | ||||||
1,973 | SS&C Technologies Holdings, Inc. | 80 | ||||||
7,747 | Symantec Corp. | 217 | ||||||
191 | Synopsys, Inc. (a) | 16 | ||||||
809 | Tableau Software, Inc., Class – A (a) | 56 | ||||||
1,412 | Take-Two Interactive Software, Inc. (a) | 155 | ||||||
354 | The Ultimate Software Group, Inc. (a) | 77 | ||||||
429 | Tyler Technologies, Inc. (a) | 76 | ||||||
4,106 | VMware, Inc., Class – A (a) | 515 | ||||||
26,531 | Workday, Inc., Class – A (a) | 2,699 | ||||||
|
| |||||||
111,928 | ||||||||
|
| |||||||
Specialty Retail — 4.37% | ||||||||
2,661 | Aaron’s, Inc. | 106 | ||||||
3,193 | Advance Auto Parts, Inc. | 318 | ||||||
1,476 | AutoZone, Inc. (a) | 1,050 | ||||||
7,005 | Bed Bath & Beyond, Inc. | 154 | ||||||
11,771 | Best Buy Co., Inc. | 806 | ||||||
487 | Burlington Stores, Inc. (a) | 60 | ||||||
2,339 | CarMax, Inc. (a) | 150 | ||||||
4,580 | Dick’s Sporting Goods, Inc. | 132 | ||||||
311 | Floor & Decor Holdings, Inc. (a) | 15 | ||||||
210 | Foot Locker, Inc. | 10 | ||||||
4,305 | GameStop Corp., Class – A | 77 | ||||||
9,864 | Gap, Inc. | 336 | ||||||
89,268 | Industria de Diseno Textil SA, ADR | 1,555 | ||||||
521 | L Brands, Inc. | 31 | ||||||
113,367 | Lowe’s Companies, Inc. | 10,536 | ||||||
1,102 | Michaels Companies, Inc. The (a) | 27 | ||||||
4,890 | O’Reilly Automotive, Inc. (a) | 1,176 | ||||||
20,759 | Ross Stores, Inc. | 1,666 | ||||||
764 | Sally Beauty Holdings, Inc. (a) | 14 | ||||||
45,496 | The Home Depot, Inc. | 8,623 | ||||||
149,848 | The TJX Cos., Inc. | 11,458 | ||||||
4,373 | Tiffany & Co. | 455 | ||||||
1,607 | Tractor Supply Co. | 120 |
Shares | Security Description | Value (000) | ||||||
Specialty Retail (continued) | ||||||||
46,767 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | $ | 10,460 | |||||
3,601 | Urban Outfitters, Inc. (a) | 126 | ||||||
334 | Williams-Sonoma, Inc. | 17 | ||||||
|
| |||||||
49,478 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 3.23% | ||||||||
214,331 | Apple, Inc. | 36,272 | ||||||
1,483 | NCR Corp. (a) | 50 | ||||||
2,913 | NetApp, Inc. | 161 | ||||||
529 | Western Digital Corp. | 42 | ||||||
|
| |||||||
36,525 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 2.05% | ||||||||
6,138 | adidas AG, ADR | 613 | ||||||
2,736 | Carter’s, Inc. | 321 | ||||||
1,767 | Fossil Group, Inc. (a) | 14 | ||||||
4,562 | Hanesbrands, Inc. | 95 | ||||||
68,487 | Kering, ADR | 3,224 | ||||||
5,518 | Lululemon Athletica, Inc. (a) | 434 | ||||||
7,351 | Michael Kors Holdings Ltd. (a) | 463 | ||||||
253,597 | NIKE, Inc., Class – B | 15,863 | ||||||
2,473 | Ralph Lauren Corp. | 256 | ||||||
832 | Skechers USA, Inc., Class – A (a) | 31 | ||||||
11,303 | Tapestry, Inc. | 500 | ||||||
9,093 | Under Armour, Inc., Class – A^ (a) | 131 | ||||||
9,182 | Under Armour, Inc., Class – C (a) | 122 | ||||||
16,220 | V.F. Corp. | 1,201 | ||||||
|
| |||||||
23,268 | ||||||||
|
| |||||||
Tobacco — 0.82% | ||||||||
24,400 | Altria Group, Inc. | 1,742 | ||||||
16,629 | British American Tobacco PLC, ADR | 1,114 | ||||||
61,040 | Philip Morris International, Inc. | 6,449 | ||||||
|
| |||||||
9,305 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.19% | ||||||||
152 | Air Lease Corp. | 7 | ||||||
14,991 | Fastenal Co. | 820 | ||||||
2,518 | HD Supply Holdings, Inc. (a) | 101 | ||||||
2,160 | MSC Industrial Direct Co., Inc., Class – A | 209 | ||||||
4,457 | NOW, Inc. (a) | 49 | ||||||
1,077 | United Rentals, Inc. (a) | 185 | ||||||
1,349 | Univar, Inc. (a) | 42 | ||||||
3,028 | W.W. Grainger, Inc. | 715 | ||||||
375 | Watsco, Inc. | 64 | ||||||
|
| |||||||
2,192 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.01% | ||||||||
2,264 | T-Mobile USA, Inc. (a) | 144 | ||||||
|
| |||||||
Total Common Stocks | 1,041,977 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.00% | ||||||||
$ | 20 | U.S. Treasury Bill, 1.26%, 3/8/18 (b)(c) | 20 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 20 | |||||||
|
|
See accompanying notes to financial statements.
36
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Time Deposit — 1.31% | ||||||||
$ | 14,787 | State Street Liquidity Management Control System Eurodollar Time Deposit, | $ | 14,787 | ||||
|
| |||||||
Total Time Deposit | 14,787 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 7.53% | ||||||||
60,281 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 60 | ||||||
— | State Street Institutional Treasury Money Market Fund, 1.15% (d) | — | ||||||
85,168,774 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 85,169 | ||||||
|
| |||||||
Total Mutual Funds | 85,229 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.00% | ||||||||
$ | 56 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $56,096 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $57,209)^^ | 56 | |||||
|
| |||||||
Total Repurchase Agreement | 56 | |||||||
|
| |||||||
Total Investments | 1,142,069 | |||||||
Liabilities in excess of | (10,358 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 1,131,711 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $105 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
37
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Institutional Growth Equity Portfolio | Jennison Associates, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | Sustainable Growth Advisers, LP | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 22.72 | % | 44.09 | % | — | 25.27 | % | — | 92.08 | % | ||||||||||||||
U.S. Treasury Obligation | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
Time Deposit | 0.47 | % | — | — | 0.84 | % | — | 1.31 | % | |||||||||||||||
Mutual Funds | — | 0.38 | % | 4.60 | % | — | 2.55 | % | 7.53 | % | ||||||||||||||
Repurchase Agreement | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.15 | % | 0.11 | % | -0.89 | % | 0.01 | % | 0.00 | % | -0.92 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 23.04 | % | 44.58 | % | 3.71 | % | 26.12 | % | 2.55 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
E-Mini NASDAQ 100 Future | 106 | 3/16/18 | $ | 13,576 | $ | 13,587 | $ | 11 | ||||||||||
E-Mini S&P 500 Future | 149 | 3/16/18 | 19,864 | 19,936 | 72 | |||||||||||||
E-Mini S&P Midcap 400 Future | 6 | 3/16/18 | 1,141 | 1,141 | — | |||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 34,581 | $ | 34,664 | $ | 83 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 83 | ||||||||||||||||
Total Unrealized Depreciation | — | |||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 83 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
38
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 89.88% | ||||||||
Aerospace & Defense — 1.08% | ||||||||
1,494 | Astronics Corp. (a) | $ | 62 | |||||
2,200 | CPI Aerostructures, Inc. (a) | 20 | ||||||
5,253 | Cubic Corp. | 309 | ||||||
1,610 | Curtiss-Wright Corp. | 196 | ||||||
162 | Ducommun, Inc. (a) | 5 | ||||||
5,447 | Kratos Defense & Security Solutions, Inc. (a) | 58 | ||||||
5,640 | Mercury Systems, Inc. (a) | 289 | ||||||
26 | National Presto Industries, Inc. | 3 | ||||||
710 | Teledyne Technologies, Inc. (a) | 129 | ||||||
66 | Triumph Group, Inc. | 2 | ||||||
7,353 | Wesco Aircraft Holdings, Inc. (a) | 54 | ||||||
|
| |||||||
1,127 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.13% | ||||||||
1,529 | XPO Logistics, Inc. (a) | 140 | ||||||
|
| |||||||
Airlines — 2.27% | ||||||||
4,655 | American Airlines Group, Inc. | 242 | ||||||
32 | Copa Holdings SA, Class – A | 4 | ||||||
2,144 | Hawaiian Holdings, Inc. | 85 | ||||||
12,484 | JetBlue Airways Corp. (a) | 279 | ||||||
20,824 | United Continental Holdings, Inc. (a) | 1,404 | ||||||
43,534 | Volaris Aviation Holding Co., ADR (a) | 349 | ||||||
|
| |||||||
2,363 | ||||||||
|
| |||||||
Auto Components — 1.02% | ||||||||
65 | American Axle & Manufacturing Holdings, Inc. (a) | 1 | ||||||
64 | Cooper Tire & Rubber Co. | 2 | ||||||
1,371 | Cooper-Standard Holding, Inc. (a) | 168 | ||||||
5,370 | Dana Holding Corp. | 172 | ||||||
7,335 | Modine Manufacturing Co. (a) | 148 | ||||||
4,900 | Spartan Motors, Inc. | 77 | ||||||
5,400 | Strattec Security Corp. | 235 | ||||||
4,490 | Tenneco, Inc. | 263 | ||||||
90 | Tower International, Inc. | 3 | ||||||
|
| |||||||
1,069 | ||||||||
|
| |||||||
Banks — 6.30% | ||||||||
52 | 1st Source, Inc. | 3 | ||||||
66 | American National Bankshares, Inc. | 3 | ||||||
11,900 | Associated Banc-Corp. | 302 | ||||||
62 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 2 | ||||||
9,750 | BankUnited, Inc. | 397 | ||||||
5,760 | Banner Corp. | 317 | ||||||
38 | C&F Financial Corp. | 2 | ||||||
6,166 | Centerstate Bank Corp. | 159 | ||||||
3,774 | Chemical Financial Corp. | 202 | ||||||
56 | Chemung Financial Corp. | 3 | ||||||
92 | CNB Financial Corp. | 2 | ||||||
11,887 | Columbia Banking System, Inc. | 516 | ||||||
48 | Community Trust Bancorp, Inc. | 2 | ||||||
3,445 | Cullen/Frost Bankers, Inc. | 326 | ||||||
16,430 | CVB Financial Corp. | 387 | ||||||
104 | Fidelity Southern Corp. | 2 | ||||||
65 | Financial Institutions, Inc. | 2 | ||||||
27,295 | First Bancorp (a) | 139 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) | ||||||||
95 | First Bancorp | $ | 3 | |||||
73 | First Business Financial Services, Inc. | 2 | ||||||
7 | First Citizens BancShares, Inc., Class – A | 3 | ||||||
77 | First Community Bancshares, Inc. | 2 | ||||||
46 | First Financial Corp. | 2 | ||||||
5,699 | First Horizon National Corp. | 114 | ||||||
61 | First Interstate BancSystem, Inc., Class – A | 2 | ||||||
5,875 | First Midwest Bancorp, Inc. | 141 | ||||||
46 | Great Southern Bancorp, Inc. | 2 | ||||||
63 | Hancock Holding Co. | 3 | ||||||
48 | Heartland Financial USA, Inc. | 3 | ||||||
15,411 | Hope Bancorp, Inc. | 281 | ||||||
99 | Horizon Bancorp, Inc. | 3 | ||||||
144 | Huntington Bancshares, Inc. | 2 | ||||||
116 | Independent Bank Corp. | 3 | ||||||
63 | International Bancshares Corp. | 3 | ||||||
17,470 | Investors Bancorp, Inc. | 242 | ||||||
114 | KeyCorp | 2 | ||||||
148 | Lakeland Bancorp, Inc. | 3 | ||||||
77 | MainSource Financial Group, Inc. | 3 | ||||||
2,800 | MB Financial, Inc. | 125 | ||||||
58 | MidWestOne Financial Group, Inc. | 2 | ||||||
50 | National Bankshares, Inc. | 2 | ||||||
61 | Northrim BanCorp, Inc. | 2 | ||||||
133 | Old National Bancorp | 2 | ||||||
10,363 | PacWest Bancorp | 522 | ||||||
79 | Peoples Bancorp, Inc. | 3 | ||||||
7,366 | Popular, Inc. | 262 | ||||||
113 | Premier Financial Bancorp, Inc. | 2 | ||||||
10,340 | Seacoast Banking Corporation of Florida (a) | 261 | ||||||
102 | Sierra Bancorp | 3 | ||||||
2,599 | Signature Bank (a) | 357 | ||||||
3,340 | Synovus Financial Corp. | 160 | ||||||
6,923 | TCF Financial Corp. | 142 | ||||||
8,500 | TriCo Bancshares | 322 | ||||||
101 | Triumph Bancorp, Inc. (a) | 3 | ||||||
67 | Trustmark Corp. | 2 | ||||||
109 | Umpqua Holdings Corp. | 2 | ||||||
14,564 | Webster Financial Corp. | 818 | ||||||
|
| |||||||
6,577 | ||||||||
|
| |||||||
Biotechnology — 3.24% | ||||||||
101 | Acorda Therapeutics, Inc. (a) | 2 | ||||||
264 | Alkermes PLC (a) | 15 | ||||||
1,298 | Anaptysbio, Inc. (a) | 131 | ||||||
41 | Aptevo Therapeutics, Inc. (a) | — | ||||||
1,427 | AveXis, Inc. (a) | 158 | ||||||
1,598 | Bluebird Bio, Inc. (a) | 285 | ||||||
1,817 | Blueprint Medicines Corp. (a) | 137 | ||||||
1,170 | Clovis Oncology, Inc. (a) | 80 | ||||||
97 | Emergent BioSolutions, Inc. (a) | 5 | ||||||
5,426 | Exact Sciences Corp. (a) | 285 | ||||||
5,804 | Foundation Medicine, Inc. (a) | 395 | ||||||
2,060 | Ionis Pharmaceuticals, Inc. (a) | 104 | ||||||
2,800 | Juno Therapeutics, Inc. (a) | 128 | ||||||
28,000 | Kindred Biosciences, Inc. (a) | 265 |
See accompanying notes to financial statements.
39
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
1,692 | Loxo Oncology, Inc. (a) | $ | 142 | |||||
9,360 | Myriad Genetics, Inc. (a) | 321 | ||||||
4,755 | Natera, Inc. (a) | 43 | ||||||
1,780 | Neurocrine Biosciences, Inc. (a) | 138 | ||||||
769 | PDL BioPharma, Inc. (a) | 2 | ||||||
7,250 | Repligen Corp. (a) | 263 | ||||||
560 | Sage Therapeutics, Inc. (a) | 92 | ||||||
5,638 | Sangamo BioSciences, Inc. (a) | 92 | ||||||
1,685 | Seattle Genetics, Inc. (a) | 90 | ||||||
1,240 | Spark Therapeutics, Inc. (a) | 64 | ||||||
735 | Tesaro, Inc. (a) | 61 | ||||||
1,650 | Ultragenyx Pharmaceutical, Inc. (a) | 77 | ||||||
|
| |||||||
3,375 | ||||||||
|
| |||||||
Building Products — 1.83% | ||||||||
2,892 | Armstrong World Industries, Inc. (a) | 175 | ||||||
6,613 | CaesarStone Sdot Yam Ltd. (a) | 146 | ||||||
8,906 | Gibraltar Industries, Inc. (a) | 294 | ||||||
6,928 | Jeld-Wen Holding, Inc. (a) | 273 | ||||||
4,476 | Masonite International Corp. (a) | 332 | ||||||
9,098 | Ply Gem Holdings, Inc. (a) | 168 | ||||||
3,334 | Trex Company, Inc. (a) | 362 | ||||||
4,158 | Universal Forest Products, Inc. | 156 | ||||||
|
| |||||||
1,906 | ||||||||
|
| |||||||
Capital Markets — 2.73% | ||||||||
11,597 | Artisan Partners Asset Management, Inc., Class – A | 459 | ||||||
14,200 | Capital Southwest Corp. | 235 | ||||||
28,275 | Cowen Group, Inc., Class – A (a) | 387 | ||||||
11 | Donnelley Financial Solutions, Inc. (a) | — | ||||||
3,035 | E*Trade Financial Corp. (a) | 150 | ||||||
2,976 | Evercore Partners, Inc., Class – A | 268 | ||||||
246 | Gain Capital Holdings, Inc. | 2 | ||||||
7,796 | Greenhill & Co., Inc.^ | 152 | ||||||
75 | Houlihan Lokey, Inc. | 3 | ||||||
4,178 | LPL Financial Holdings, Inc. | 239 | ||||||
176 | Manning & Napier, Inc. | 1 | ||||||
13,723 | Pzena Investment Management, Inc. | 146 | ||||||
3,476 | Raymond James Financial, Inc. | 310 | ||||||
21,200 | Safeguard Scientifics, Inc. (a) | 237 | ||||||
4,394 | Stifel Financial Corp. | 262 | ||||||
|
| |||||||
2,851 | ||||||||
|
| |||||||
Chemicals — 2.60% | ||||||||
97 | A. Schulman, Inc. | 4 | ||||||
2,573 | Albemarle Corp. | 329 | ||||||
48 | Cabot Corp. | 3 | ||||||
5,500 | FMC Corp. | 521 | ||||||
274 | FutureFuel Corp. | 4 | ||||||
196 | Huntsman Corp. | 7 | ||||||
1,859 | Innophos Holdings, Inc. | 87 | ||||||
12,409 | Kraton Performance Polymers, Inc. (a) | 597 | ||||||
669 | NewMarket Corp. | 266 | ||||||
6,430 | Platform Specialty Products Corp. (a) | 64 | ||||||
4,490 | PolyOne Corp. | 195 | ||||||
3,560 | Sensient Technologies Corp. | 260 |
Shares | Security Description | Value (000) | ||||||
Chemicals (continued) | ||||||||
51 | Stepan Co. | $ | 4 | |||||
47 | Trinseo SA | 3 | ||||||
17,578 | Tronox Ltd., Class – A | 361 | ||||||
68 | Westlake Chemical Corp. | 7 | ||||||
|
| |||||||
2,712 | ||||||||
|
| |||||||
Commercial Services & Supplies — 1.25% | ||||||||
157 | ACCO Brands Corp. (a) | 2 | ||||||
2,992 | Advanced Disposal Services, Inc. (a) | 72 | ||||||
12,513 | Aqua Metals, Inc.^ (a) | 27 | ||||||
9,936 | ARC Document Solutions, Inc. (a) | 25 | ||||||
9,099 | Covanta Holding Corp. | 154 | ||||||
93 | Ennis, Inc. | 2 | ||||||
22,306 | Essendant, Inc. | 207 | ||||||
4,467 | Healthcare Services Group, Inc. | 236 | ||||||
7,288 | Interface, Inc. | 183 | ||||||
11 | LSC Communications, Inc. | — | ||||||
55 | McGrath RentCorp | 3 | ||||||
2,680 | Multi-Color Corp. | 201 | ||||||
65 | Quad Graphics, Inc. | 1 | ||||||
31 | RR Donnelley & Sons Co. | — | ||||||
354 | Steelcase, Inc., Class – A | 5 | ||||||
12,018 | Team, Inc. (a) | 179 | ||||||
15 | UniFirst Corp. | 2 | ||||||
48 | VSE Corp. | 2 | ||||||
|
| |||||||
1,301 | ||||||||
|
| |||||||
Communications Equipment — 0.62% | ||||||||
83 | BEL Fuse, Inc., Class – B | 2 | ||||||
119 | Black Box Corp. | — | ||||||
129 | Comtech Telecommunications Corp. | 3 | ||||||
43 | EchoStar Corp., Class – A (a) | 3 | ||||||
22,400 | EMCORE Corp. (a) | 144 | ||||||
16,266 | Infinera Corp. (a) | 103 | ||||||
34,900 | PC-Telephone, Inc. | 258 | ||||||
1,988 | Silicom Ltd. | 139 | ||||||
|
| |||||||
652 | ||||||||
|
| |||||||
Construction & Engineering — 1.80% | ||||||||
3,756 | Granite Construction, Inc. | 238 | ||||||
12,774 | KBR, Inc. | 253 | ||||||
14,771 | MasTec, Inc. (a) | 724 | ||||||
107 | MYR Group, Inc. (a) | 4 | ||||||
15,631 | Tutor Perini Corp. (a) | 396 | ||||||
1,592 | Valmont Industries, Inc. | 264 | ||||||
|
| |||||||
1,879 | ||||||||
|
| |||||||
Construction Materials — 1.24% | ||||||||
3,331 | Eagle Materials, Inc., Class – A | 376 | ||||||
28,066 | Forterra, Inc. (a) | 312 | ||||||
1,089 | Martin Marietta Materials, Inc. | 241 | ||||||
6,520 | Summit Materials, Inc., Class – A (a) | 205 | ||||||
1,935 | U.S. Concrete, Inc. (a) | 162 | ||||||
|
| |||||||
1,296 | ||||||||
|
| |||||||
Consumer Finance — 0.46% | ||||||||
68 | Encore Capital Group, Inc. (a) | 3 | ||||||
6,025 | Green Dot Corp., Class – A (a) | 363 | ||||||
43 | Nelnet, Inc., Class – A | 2 |
See accompanying notes to financial statements.
40
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Consumer Finance (continued) | ||||||||
3,391 | PRA Group, Inc. (a) | $ | 113 | |||||
147 | Santander Consumer USA Holdings, Inc. | 3 | ||||||
|
| |||||||
484 | ||||||||
|
| |||||||
Containers & Packaging — 1.23% | ||||||||
3,071 | AptarGroup, Inc. | 265 | ||||||
13,242 | Berry Plastics Group, Inc. (a) | 777 | ||||||
14,703 | Graphic Packaging Holding Co. | 227 | ||||||
61 | Greif, Inc. | 4 | ||||||
79 | Greif, Inc., Class – A | 5 | ||||||
|
| |||||||
1,278 | ||||||||
|
| |||||||
Distributors — 0.37% | ||||||||
3,010 | Pool Corp. | 390 | ||||||
|
| |||||||
Diversified Consumer Services — 1.42% | ||||||||
88 | Adtalem Global Education, Inc. (a) | 4 | ||||||
67 | American Public Education, Inc. (a) | 2 | ||||||
5,590 | Bright Horizons Family Solutions, Inc. (a) | 525 | ||||||
39 | Capella Education Co. | 3 | ||||||
26,362 | Career Education Corp. (a) | 318 | ||||||
22,447 | Chegg, Inc. (a) | 366 | ||||||
4 | Graham Holdings Co. | 2 | ||||||
2,890 | Grand Canyon Education, Inc. (a) | 259 | ||||||
139 | Liberty Tax, Inc. | 2 | ||||||
51 | Strayer Education, Inc. | 5 | ||||||
|
| |||||||
1,486 | ||||||||
|
| |||||||
Diversified Financial Services — 0.26% | ||||||||
10,185 | Leucadia National Corp. | 270 | ||||||
99 | Marlin Business Services Corp. | 2 | ||||||
|
| |||||||
272 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.88% | ||||||||
12,653 | Cogent Communications Group, Inc. | 573 | ||||||
58 | Consolidated Communications Holdings, Inc. | 1 | ||||||
57 | Hawaiian Telcom Holdco, Inc. (a) | 2 | ||||||
81 | IDT Corp. | 1 | ||||||
136 | Iridium Communications, Inc. (a) | 2 | ||||||
33,200 | ORBCOMM, Inc. (a) | 338 | ||||||
232 | Windstream Holdings, Inc. | — | ||||||
|
| |||||||
917 | ||||||||
|
| |||||||
Electric Utilities — 0.02% | ||||||||
143 | Hawaiian Electric Industries, Inc. | 5 | ||||||
134 | PNM Resources, Inc. | 6 | ||||||
105 | Portland General Electric Co. | 5 | ||||||
337 | Spark Energy, Inc., Class – A | 4 | ||||||
|
| |||||||
20 | ||||||||
|
| |||||||
Electrical Equipment — 0.53% | ||||||||
3,066 | Encore Wire Corp. | 149 | ||||||
3,743 | EnerSys | 262 | ||||||
11,109 | LSI Industries, Inc. | 76 | ||||||
65,100 | Orion Energy Systems, Inc. (a) | 57 | ||||||
54 | Regal-Beloit Corp. | 4 | ||||||
|
| |||||||
548 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components — 5.67% | ||||||||
4,337 | Anixter International, Inc. (a) | $ | 330 | |||||
121 | AVX Corp. | 2 | ||||||
6,222 | Belden, Inc. | 480 | ||||||
75 | Benchmark Electronics, Inc. (a) | 2 | ||||||
668 | Coherent, Inc. (a) | 189 | ||||||
5,143 | Control4 Corp. (a) | 153 | ||||||
34 | Dolby Laboratories, Inc., Class – A | 2 | ||||||
47 | ePlus, Inc. (a) | 4 | ||||||
779 | FARO Technologies, Inc. (a) | 37 | ||||||
22,022 | Flextronics International Ltd. (a) | 396 | ||||||
10,719 | II-VI, Inc. (a) | 503 | ||||||
5,007 | Insight Enterprises, Inc. (a) | 192 | ||||||
915 | IPG Photonics Corp. (a) | 196 | ||||||
5,724 | Itron, Inc. (a) | 390 | ||||||
12,813 | Jabil Circuit, Inc. | 336 | ||||||
131 | Kimball Electronics, Inc. (a) | 2 | ||||||
2,726 | Littelfuse, Inc. | 539 | ||||||
48 | Methode Electronics, Inc. | 2 | ||||||
64 | PC Connection, Inc. | 2 | ||||||
2,600 | Perceptron, Inc. (a) | 25 | ||||||
37 | Plexus Corp. (a) | 2 | ||||||
4,105 | Rogers Corp. (a) | 665 | ||||||
59 | Sanmina Corp. (a) | 2 | ||||||
6,659 | ScanSource, Inc. (a) | 238 | ||||||
1,957 | SYNNEX Corp. | 266 | ||||||
22 | Tech Data Corp. (a) | 2 | ||||||
285 | TTM Technologies, Inc. (a) | 4 | ||||||
4,011 | Universal Display Corp. | 693 | ||||||
14,724 | VeriFone Systems, Inc. (a) | 261 | ||||||
135 | Vishay Intertechnology, Inc. | 3 | ||||||
|
| |||||||
5,918 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.11% | ||||||||
4,500 | Aspen Aerogels, Inc. (a) | 22 | ||||||
16,400 | Bristow Group, Inc. | 221 | ||||||
53 | Diamond Offshore Drilling, Inc. (a) | 1 | ||||||
1,912 | Dril-Quip, Inc. (a) | 91 | ||||||
97 | Exterran Corp. (a) | 3 | ||||||
12,100 | Gulf Island Fabrication, Inc. | 162 | ||||||
27,400 | Mitcham Industries, Inc. (a) | 87 | ||||||
67 | PHI, Inc. (a) | 1 | ||||||
24,850 | Superior Energy Services, Inc. (a) | 240 | ||||||
3,092 | TechnipFMC PLC | 97 | ||||||
7,200 | US Silica Holdings, Inc. | 234 | ||||||
|
| |||||||
1,159 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 1.04% | ||||||||
643 | Ashford Hospitality Trust | 4 | ||||||
283 | CBL & Associates Properties, Inc. | 2 | ||||||
343 | Cedar Realty Trust, Inc. | 2 | ||||||
581 | Colony Northstar, Inc. | 7 | ||||||
3,859 | DiamondRock Hospitality Co. | 44 | ||||||
2,971 | EastGroup Properties, Inc. | 263 | ||||||
14,440 | Equity Commonwealth (a) | 441 | ||||||
474 | Investors Real Estate Trust | 3 |
See accompanying notes to financial statements.
41
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Equity Real Estate Investment Trusts (continued) | ||||||||
10,950 | LaSalle Hotel Properties | $ | 307 | |||||
252 | Lexington Realty Trust | 2 | ||||||
116 | Pennsylvania Real Estate Investment Trust | 1 | ||||||
24 | PS Business Parks, Inc. | 3 | ||||||
846 | RAIT Financial Trust | — | ||||||
202 | RLJ Lodging Trust | 4 | ||||||
214 | Washington Prime Group, Inc. | 2 | ||||||
|
| |||||||
1,085 | ||||||||
|
| |||||||
Food & Staples Retailing — 0.38% | ||||||||
3,552 | Casey’s General Stores, Inc. | 398 | ||||||
37 | Ingles Markets, Inc., Class – A | 1 | ||||||
46 | SpartanNash Co. | 1 | ||||||
48 | Village Super Market, Inc., Class – A | 1 | ||||||
|
| |||||||
401 | ||||||||
|
| |||||||
Food Products — 0.77% | ||||||||
18,683 | Amplify Snack Brands, Inc. (a) | 224 | ||||||
41 | Cal-Maine Foods, Inc. (a) | 2 | ||||||
4,706 | Darling Ingredients, Inc. (a) | 85 | ||||||
99 | Dean Foods Co. | 1 | ||||||
33 | Fresh Del Monte Produce, Inc. | 2 | ||||||
2,790 | J&J Snack Foods Corp. | 425 | ||||||
39 | John B. Sanfilippo & Son, Inc. | 2 | ||||||
5,200 | Landec Corp. (a) | 66 | ||||||
25 | Sanderson Farms, Inc. | 3 | ||||||
|
| |||||||
810 | ||||||||
|
| |||||||
Gas Utilities — 0.39% | ||||||||
59 | Southwest Gas Corp. | 5 | ||||||
8,617 | UGI Corp. | 404 | ||||||
|
| |||||||
409 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 4.62% | ||||||||
1,040 | Abiomed, Inc. (a) | 195 | ||||||
3,210 | Cantel Medical Corp. | 330 | ||||||
9,373 | Cardiovascular Systems, Inc. (a) | 222 | ||||||
5,217 | DexCom, Inc. (a) | 299 | ||||||
3,022 | Edwards Lifesciences Corp. (a) | 341 | ||||||
69 | Exactech, Inc. (a) | 3 | ||||||
56 | Halyard Health, Inc. (a) | 3 | ||||||
16,774 | Insulet Corp. (a) | 1,157 | ||||||
8,006 | Irhythm Technologies, Inc. (a) | 449 | ||||||
2,399 | Neogen Corp. (a) | 197 | ||||||
930 | Nevro Corp. (a) | 64 | ||||||
8,721 | Novocure Ltd. (a) | 176 | ||||||
1,103 | Penumbra, Inc. (a) | 104 | ||||||
488 | RTI Surgical, Inc. (a) | 2 | ||||||
2,654 | STERIS PLC | 232 | ||||||
5,915 | Tandem Diabetes Care, Inc.^ (a) | 14 | ||||||
2,785 | The Cooper Companies, Inc. | 607 | ||||||
4,345 | West Pharmaceutical Services, Inc. | 429 | ||||||
|
| |||||||
4,824 | ||||||||
|
| |||||||
Health Care Providers & Services — 1.73% | ||||||||
11,394 | Acadia Healthcare Company, Inc. (a) | 372 | ||||||
72 | Aceto Corp. | 1 | ||||||
44 | Almost Family, Inc. (a) | 2 |
Shares | Security Description | Value (000) | ||||||
Health Care Providers & Services (continued) | ||||||||
13 | Chemed Corp. | $ | 3 | |||||
21,817 | Diplomat Pharmacy, Inc. (a) | 437 | ||||||
3,260 | HealthEquity, Inc. (a) | 152 | ||||||
47 | HealthSouth Corp. | 2 | ||||||
154 | Kindred Healthcare, Inc. | 1 | ||||||
41 | LHC Group, Inc. (a) | 3 | ||||||
29 | LifePoint Hospitals, Inc. (a) | 1 | ||||||
27 | Magellan Health Services, Inc. (a) | 3 | ||||||
36 | Molina Heathcare, Inc. (a) | 3 | ||||||
29 | National Healthcare Corp. | 2 | ||||||
7,820 | Owens & Minor, Inc. | 148 | ||||||
39 | Providence Service Corp. (a) | 2 | ||||||
164 | Select Medical Holdings Corp. (a) | 3 | ||||||
9,704 | Teladoc, Inc. (a) | 338 | ||||||
63 | Tenet Healthcare Corp. (a) | 1 | ||||||
86 | The Ensign Group, Inc. | 2 | ||||||
3,271 | Tivity Health, Inc. (a) | 120 | ||||||
8,510 | Triple-S Management Corp., Class – A (a) | 211 | ||||||
9 | UnitedHealth Group, Inc. | 2 | ||||||
|
| |||||||
1,809 | ||||||||
|
| |||||||
Health Care Technology — 0.61% | ||||||||
92 | Inovalon Holdings, Inc., Class – A (a) | 1 | ||||||
3,030 | Medidata Solutions, Inc. (a) | 192 | ||||||
6,972 | Omnicell, Inc. (a) | 339 | ||||||
3,512 | Vocera Communications, Inc. (a) | 106 | ||||||
|
| |||||||
638 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.53% | ||||||||
14,063 | Arcos Dorados Holdings, Inc. (a) | 146 | ||||||
105 | Bloomin’ Brands, Inc. | 2 | ||||||
47,900 | Century Casinos, Inc. (a) | 437 | ||||||
114 | International Game Technology PLC | 3 | ||||||
54 | International Speedway Corp., Class – A | 2 | ||||||
88 | Marcus Corp. | 2 | ||||||
209 | Pinnacle Entertainment, Inc. (a) | 7 | ||||||
5,909 | Planet Fitness, Inc., Class – A (a) | 205 | ||||||
39 | Red Robin Gourmet Burgers, Inc. (a) | 2 | ||||||
131 | SeaWorld Entertainment, Inc. (a) | 2 | ||||||
101 | Speedway Motorsports, Inc. | 2 | ||||||
3,690 | Vail Resorts, Inc. | 785 | ||||||
|
| |||||||
1,595 | ||||||||
|
| |||||||
Household Durables — 0.76% | ||||||||
306 | Beazer Homes USA, Inc. (a) | 6 | ||||||
872 | Cavco Industries, Inc. (a) | 133 | ||||||
73 | CSS Industries, Inc. | 2 | ||||||
48 | Flexsteel Industries, Inc. | 2 | ||||||
19,200 | Green Brick Partners, Inc. (a) | 217 | ||||||
2,211 | iRobot Corp. (a) | 170 | ||||||
124 | Libbey, Inc. | 1 | ||||||
131 | Lifetime Brands, Inc. | 2 | ||||||
128 | Taylor Morrison Home Corp., Class – A (a) | 3 | ||||||
5,408 | Universal Electronics, Inc. (a) | 256 | ||||||
|
| |||||||
792 | ||||||||
|
| |||||||
Household Products — 0.00% | ||||||||
33 | Central Garden & Pet Co. (a) | 1 |
See accompanying notes to financial statements.
42
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Household Products (continued) | ||||||||
35 | Central Garden & Pet Co., Class – A (a) | $ | 1 | |||||
21 | Oil-Dri Corporation of America | 1 | ||||||
|
| |||||||
3 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.00% |
| |||||||
282 | NRG Yield, Inc., Class – C | 5 | ||||||
|
| |||||||
Insurance — 3.19% | ||||||||
8,706 | American Equity Investment Life Holding Co. | 268 | ||||||
7,859 | American Financial Group, Inc. | 853 | ||||||
8,560 | Argo Group International Holdings Ltd. | 527 | ||||||
10,117 | Aspen Insurance Holdings Ltd. | 410 | ||||||
62 | Assured Guaranty Ltd. | 2 | ||||||
5,300 | Atlas Financial Holdings, Inc. (a) | 109 | ||||||
1,408 | Everest Re Group Ltd. | 312 | ||||||
4,800 | First American Financial Corp. | 269 | ||||||
7,325 | Genworth Financial, Inc., Class – A (a) | 23 | ||||||
142 | Hallmark Financial Services, Inc. (a) | 1 | ||||||
1,554 | Hanover Insurance Group, Inc. | 168 | ||||||
55 | HCI Group, Inc. | 2 | ||||||
129 | Heritage Insurance Holdings, Inc. | 2 | ||||||
127 | Maiden Holdings Ltd. | 1 | ||||||
8 | National Western Life Group, Inc., Class – A | 3 | ||||||
79 | Universal Insurance Holdings, Inc. | 2 | ||||||
3,332 | Validus Holdings Ltd. | 156 | ||||||
3,087 | W.R. Berkley Corp. | 221 | ||||||
|
| |||||||
3,329 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.30% | ||||||||
185 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 2 | ||||||
7,233 | Etsy, Inc. (a) | 149 | ||||||
7,600 | Gaia, Inc. (a) | 94 | ||||||
2,457 | Stitch Fix, Inc., Class – A (a) | 63 | ||||||
|
| |||||||
308 | ||||||||
|
| |||||||
Internet Software & Services — 4.32% | ||||||||
11,105 | 2U, Inc. (a) | 715 | ||||||
3,346 | Akamai Technologies, Inc. (a) | 218 | ||||||
5,207 | Benefitfocus, Inc. (a) | 141 | ||||||
182 | Blucora, Inc. (a) | 4 | ||||||
13,858 | Box, Inc., Class – A (a) | 293 | ||||||
30,524 | Brightcove, Inc. (a) | 217 | ||||||
4,495 | Care.com, Inc. (a) | 81 | ||||||
6,715 | Coupa Software, Inc. (a) | 210 | ||||||
281 | DHI Group, Inc. (a) | 1 | ||||||
18,992 | Gogo, Inc.^ (a) | 214 | ||||||
5,615 | GrubHub, Inc. (a) | 403 | ||||||
29 | j2 Global, Inc. | 2 | ||||||
122 | Match Group, Inc.^ (a) | 4 | ||||||
8,710 | New Relic, Inc. (a) | 503 | ||||||
13,200 | Nutanix, Inc., Class – A (a) | 466 | ||||||
96,425 | RealNetworks, Inc. (a) | 330 | ||||||
74,500 | Synacor, Inc. (a) | 171 | ||||||
14,900 | TechTarget (a) | 207 | ||||||
3,536 | Web.com Group, Inc. (a) | 77 |
Shares | Security Description | Value (000) | ||||||
Internet Software & Services (continued) | ||||||||
13,500 | XO Group, Inc. (a) | $ | 249 | |||||
|
| |||||||
4,506 | ||||||||
|
| |||||||
IT Services — 1.36% | ||||||||
701 | Alliance Data Systems Corp. | 178 | ||||||
56 | Blackhawk Network Holdings, Inc. (a) | 2 | ||||||
62 | Booz Allen Hamilton Holding Corp. | 2 | ||||||
20 | CACI International, Inc., Class – A (a) | 3 | ||||||
45 | Cardtronics PLC (a) | 1 | ||||||
39 | Cass Information Systems, Inc. | 2 | ||||||
72 | Convergys Corp. | 2 | ||||||
47 | CoreLogic, Inc. (a) | 2 | ||||||
46 | CSG Systems International, Inc. | 2 | ||||||
21,000 | Edgewater Technology, Inc. (a) | 131 | ||||||
1,819 | Euronet Worldwide, Inc. (a) | 153 | ||||||
2,398 | Global Payments, Inc. | 241 | ||||||
5,174 | Jack Henry & Associates, Inc. | 606 | ||||||
38 | Leidos Holdings, Inc. | 2 | ||||||
49 | ManTech International Corp., Class – A | 2 | ||||||
88 | Perficient, Inc. (a) | 2 | ||||||
32 | Science Applications International Corp. | 2 | ||||||
61 | Sykes Enterprises, Inc. (a) | 2 | ||||||
69 | TeleTech Holdings, Inc. | 3 | ||||||
135 | The Hackett Group, Inc. | 2 | ||||||
143 | Travelport Worldwide Ltd. | 2 | ||||||
1,866 | Virtusa Corp. (a) | 82 | ||||||
|
| |||||||
1,424 | ||||||||
|
| |||||||
Leisure Products — 0.52% | ||||||||
20,758 | Callaway Golf Co. | 289 | ||||||
245 | JAKKS Pacific, Inc. (a) | 1 | ||||||
96 | Johnson Outdoors, Inc., Class – A | 6 | ||||||
16,820 | Vista Outdoor, Inc. (a) | 245 | ||||||
|
| |||||||
541 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 1.00% | ||||||||
22 | Bio-Rad Laboratories, Inc., Class – A (a) | 5 | ||||||
102 | Bruker Biosciences Corp. | 4 | ||||||
4,143 | Cambrex Corp. (a) | 199 | ||||||
1,266 | Illumina, Inc. (a) | 276 | ||||||
81 | INC Research Holdings, Inc., Class – A (a) | 4 | ||||||
113 | Luminex Corp. | 2 | ||||||
31,250 | NeoGenomics, Inc. (a) | 276 | ||||||
17,306 | Pacific Biosciences of California, Inc. (a) | 46 | ||||||
73 | PRA Health Sciences, Inc. (a) | 7 | ||||||
7,145 | Qiagen N.V. (a) | 221 | ||||||
|
| |||||||
1,040 | ||||||||
|
| |||||||
Machinery — 4.01% | ||||||||
11,733 | Actuant Corp., Class – A | 297 | ||||||
66 | AGCO Corp. | 5 | ||||||
59 | American Railcar Industries | 2 | ||||||
109 | Briggs & Stratton Corp. | 3 | ||||||
10,573 | Chart Industries, Inc. (a) | 495 | ||||||
197 | Columbus McKinnon Corp. | 8 | ||||||
10,757 | Energy Recovery, Inc. (a) | 94 | ||||||
167 | Freightcar America, Inc. | 3 | ||||||
83 | Global Brass & Copper Holdings, Inc. | 3 |
See accompanying notes to financial statements.
43
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Machinery (continued) | ||||||||
39 | Hyster-Yale Materials Handling, Inc., Class – A | $ | 3 | |||||
4,970 | IDEX Corp. | 655 | ||||||
5,600 | ITT, Inc. | 299 | ||||||
2,630 | Kadant, Inc. | 264 | ||||||
4,020 | Kornit Digital Ltd. (a) | 65 | ||||||
4,121 | Lincoln Electric Holdings, Inc. | 377 | ||||||
15,516 | Meritor, Inc. (a) | 364 | ||||||
151 | Miller Industries, Inc. | 4 | ||||||
3,977 | Navistar International Corp. (a) | 171 | ||||||
65 | Oshkosh Corp. | 6 | ||||||
3,041 | Proto Labs, Inc. (a) | 313 | ||||||
3,390 | Terex Corp. | 163 | ||||||
101 | The Greenbrier Companies, Inc. | 5 | ||||||
101 | The Timken Co. | 5 | ||||||
12,040 | TriMas Corp. (a) | 322 | ||||||
153 | Trinity Industries, Inc. | 6 | ||||||
210 | Wabash National Corp. | 5 | ||||||
974 | WABCO Holdings, Inc. (a) | 140 | ||||||
1,392 | Woodward, Inc. | 107 | ||||||
|
| |||||||
4,184 | ||||||||
|
| |||||||
Marine — 0.18% | ||||||||
201 | Costamare, Inc. | 1 | ||||||
2,745 | Kirby Corp. (a) | 183 | ||||||
|
| |||||||
184 | ||||||||
|
| |||||||
Media — 0.80% | ||||||||
53 | AMC Entertainment Holdings, Inc., Class – A | 1 | ||||||
35,300 | Ballantyne Strong, Inc. (a) | 165 | ||||||
63 | Discovery Communications, Inc., Class – A (a) | 1 | ||||||
116 | Entercom Communications Corp. | 1 | ||||||
116 | Gannett, Inc. Com | 1 | ||||||
65,574 | Global Eagle Entertainment, Inc. (a) | 150 | ||||||
8,891 | IMAX Corp. (a) | 206 | ||||||
9,616 | Lions Gate Entertainment Corp., Class – B (a) | 305 | ||||||
205 | Salem Communications Corp., Class – A | 1 | ||||||
53 | Sinclair Broadcast Group, Inc., Class – A | 2 | ||||||
100 | Time, Inc. | 2 | ||||||
33 | Viacom, Inc., Class – A | 1 | ||||||
|
| |||||||
836 | ||||||||
|
| |||||||
Metals & Mining — 2.58% | ||||||||
5,644 | Agnico-Eagle Mines Ltd. | 261 | ||||||
32,753 | Allegheny Technologies, Inc. (a) | 791 | ||||||
8,913 | Carpenter Technology Corp. | 454 | ||||||
30,768 | Coeur d’Alene Mines Corp. (a) | 231 | ||||||
151 | Commercial Metals Co. | 3 | ||||||
45,883 | Ferroglobe PLC (a) | 742 | ||||||
45,455 | Ferroglobe R&W Insurance Trust Co.* (a) | — | ||||||
2,571 | Steel Dynamics, Inc. | 111 | ||||||
3,772 | Warrior Met Coal, Inc. | 95 | ||||||
|
| |||||||
2,688 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.36% | ||||||||
242 | AG Mortgage Investment Trust, Inc. | 5 | ||||||
367 | Annaly Capital Management, Inc. | 4 | ||||||
747 | Anworth Mortgage Asset Corp. | 4 |
Shares | Security Description | Value (000) | ||||||
Mortgage Real Estate Investment Trusts (continued) | ||||||||
81 | Apollo Commercial Real Estate Finance, Inc. | $ | 1 | |||||
243 | Ares Commercial Real Estate Corp. | 3 | ||||||
308 | Capstead Mortgage Corp. | 3 | ||||||
223 | Chimera Investment Corp. | 4 | ||||||
313 | CYS Investments, Inc. | 3 | ||||||
455 | Dynex Capital, Inc. | 3 | ||||||
252 | Invesco Mortgage Capital, Inc. | 4 | ||||||
226 | MTGE Investment Corp. | 4 | ||||||
268 | New Residential Investment Corp. | 5 | ||||||
21,940 | Redwood Trust, Inc. | 325 | ||||||
374 | Western Asset Mortgage Capital Corp. | 4 | ||||||
|
| |||||||
372 | ||||||||
|
| |||||||
Multiline Retail — 0.08% | ||||||||
1,463 | Big Lots, Inc. | 82 | ||||||
29 | Dillard’s, Inc., Class – A | 2 | ||||||
|
| |||||||
84 | ||||||||
|
| |||||||
Multi-Utilities — 0.33% | ||||||||
105 | Avista Corp. | 5 | ||||||
5,522 | Black Hills Corp. | 332 | ||||||
105 | Unitil Corp. | 5 | ||||||
|
| |||||||
342 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.30% | ||||||||
29 | Andeavor | 3 | ||||||
187 | Ardmore Shipping Corp. (a) | 1 | ||||||
25,319 | Carrizo Oil & Gas, Inc. (a) | 538 | ||||||
10,800 | Contango Oil & Gas Co. (a) | 51 | ||||||
237 | Delek US Holdings, Inc. | 8 | ||||||
278 | DHT Holdings, Inc. | 1 | ||||||
188 | Dorian LPG Ltd. (a) | 2 | ||||||
136,440 | Enbridge Energy Management LLC (a)(b) | — | ||||||
9,100 | Energen Corp. (a) | 524 | ||||||
8,745 | Euronav N.V. | 81 | ||||||
15,327 | GasLog Ltd. | 341 | ||||||
244 | Gener8 Maritime, Inc. (a) | 2 | ||||||
3,799 | Golar LNG Ltd. | 113 | ||||||
38 | International Seaways, Inc. (a) | 1 | ||||||
6,582 | Matador Resources Co. (a) | 205 | ||||||
8,296 | Murphy Oil Corp. | 258 | ||||||
8,096 | Navigator Holdings Ltd.^ (a) | 80 | ||||||
880 | Navios Maritime Acquisition Co. | 1 | ||||||
117 | Overseas Shipholding Group, Inc. (a) | — | ||||||
22 | REX American Resources Corp. (a) | 2 | ||||||
296 | Scorpio Tankers, Inc. | 1 | ||||||
7,984 | SM Energy Co. | 176 | ||||||
436 | Teekay Tankers Ltd. | 1 | ||||||
|
| |||||||
2,390 | ||||||||
|
| |||||||
Paper & Forest Products — 0.15% | ||||||||
67 | Domtar Corp. | 3 | ||||||
5,645 | Louisiana-Pacific Corp. (a) | 149 | ||||||
112 | P.H. Glatfelter Co. | 2 | ||||||
62 | Schweitzer-Mauduit International, Inc. | 3 | ||||||
|
| |||||||
157 | ||||||||
|
| |||||||
Personal Products — 0.00% | ||||||||
16 | Nu Skin Enterprises, Inc., Class – A | 1 | ||||||
|
|
See accompanying notes to financial statements.
44
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Pharmaceuticals — 0.80% | ||||||||
3,293 | Catalent, Inc. (a) | $ | 135 | |||||
5,621 | Corcept Therapeutics, Inc. (a) | 102 | ||||||
2,600 | Cumberland Pharmaceuticals, Inc. (a) | 19 | ||||||
7,801 | Impax Laboratories, Inc. (a) | 130 | ||||||
6,187 | Intersect ENT, Inc. (a) | 201 | ||||||
2,513 | Nektar Therapeutics (a) | 150 | ||||||
200 | Omthera Pharmaceuticals, Inc.* (a) | — | ||||||
156 | Phibro Animal Health Corp., Class – A | 5 | ||||||
45 | Prestige Brands Holdings, Inc. (a) | 2 | ||||||
70 | The Medicines Co. (a) | 2 | ||||||
2,134 | Zogenix, Inc. (a) | 85 | ||||||
|
| |||||||
831 | ||||||||
|
| |||||||
Professional Services — 0.35% | ||||||||
160 | CBIZ, Inc. (a) | 2 | ||||||
3,300 | CRA International, Inc. | 149 | ||||||
85 | Kelly Services, Inc., Class – A | 2 | ||||||
95 | Kforce, Inc. | 2 | ||||||
5,102 | Korn Ferry International | 212 | ||||||
84 | TrueBlue, Inc. (a) | 2 | ||||||
|
| |||||||
369 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.36% | ||||||||
6,486 | Alexander & Baldwin, Inc. | 180 | ||||||
9,225 | Tejon Ranch Co. (a) | 191 | ||||||
|
| |||||||
371 | ||||||||
|
| |||||||
Road & Rail — 0.44% | ||||||||
131 | ArcBest Corp. | 5 | ||||||
4,747 | Avis Budget Group, Inc. (a) | 208 | ||||||
84 | Covenant Transportation Group, Inc., Class – A (a) | 2 | ||||||
5,418 | Knight-Swift Transportation Holdings, Inc. | 237 | ||||||
103 | P.A.M. Transportation Services, Inc. (a) | 4 | ||||||
|
| |||||||
456 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 6.24% | ||||||||
431 | Amkor Technology, Inc. (a) | 4 | ||||||
1,488 | Cavium, Inc. (a) | 125 | ||||||
4,611 | CEVA, Inc. (a) | 213 | ||||||
58 | Cirrus Logic, Inc. (a) | 3 | ||||||
203 | Cohu, Inc. | 4 | ||||||
7,454 | Cree, Inc. (a) | 277 | ||||||
34,909 | Cypress Semiconductor Corp. | 532 | ||||||
109 | Diodes, Inc. (a) | 3 | ||||||
159 | Entegris, Inc. | 5 | ||||||
43 | First Solar, Inc. (a) | 3 | ||||||
8,005 | FormFactor, Inc. (a) | 125 | ||||||
26,000 | GSI Technology, Inc. (a) | 207 | ||||||
9,650 | Integrated Device Technology, Inc. (a) | 287 | ||||||
212 | IXYS Corp. (a) | 5 | ||||||
11,741 | MA-COM Technology Solutions Holdings, Inc. (a) | 382 | ||||||
5,616 | Maxim Integrated Products, Inc. | 294 | ||||||
3,800 | Microsemi Corp. (a) | 196 | ||||||
3,440 | MKS Instruments, Inc. | 325 | ||||||
7,582 | Monolithic Power Systems, Inc. | 851 | ||||||
15,615 | ON Semiconductor Corp. (a) | 327 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
223 | Photronics, Inc. (a) | $ | 2 | |||||
8,941 | Qorvo, Inc. (a) | 595 | ||||||
77,649 | QuickLogic Corp. (a) | 135 | ||||||
8,064 | Semtech Corp. (a) | 276 | ||||||
1,629 | Silicon Laboratories, Inc. (a) | 144 | ||||||
5,333 | Skyworks Solutions, Inc. | 506 | ||||||
3,781 | SolarEdge Technologies, Inc. (a) | 142 | ||||||
41 | Synaptics, Inc. (a) | 2 | ||||||
430 | Ultra Clean Holdings, Inc. (a) | 10 | ||||||
19,193 | Veeco Instruments, Inc. (a) | 285 | ||||||
10,123 | Xperi Corp. | 247 | ||||||
|
| |||||||
6,512 | ||||||||
|
| |||||||
Software — 5.48% | ||||||||
4,539 | Barracuda Networks, Inc. (a) | 125 | ||||||
5,560 | Blackline, Inc. (a) | 182 | ||||||
5,000 | CommVault Systems, Inc. (a) | 263 | ||||||
2,910 | Digimarc Corp. (a) | 105 | ||||||
35 | Ebix, Inc. | 3 | ||||||
1,008 | Electronic Arts, Inc. (a) | 106 | ||||||
2,647 | Ellie Mae, Inc. (a) | 237 | ||||||
2,550 | Fair Isaac Corp. | 391 | ||||||
35,500 | Glu Mobile, Inc. (a) | 129 | ||||||
4,464 | Guidewire Software, Inc. (a) | 331 | ||||||
5,487 | HubSpot, Inc. (a) | 485 | ||||||
7,527 | Materialise N.V., ADR (a) | 96 | ||||||
21,218 | Nuance Communications, Inc. (a) | 347 | ||||||
2,248 | Paycom Software, Inc. (a) | 181 | ||||||
2,510 | Proofpoint, Inc. (a) | 223 | ||||||
5,451 | PTC, Inc. (a) | 331 | ||||||
2,948 | Rapid7, Inc. (a) | 55 | ||||||
5,346 | RingCentral, Inc., Class – A (a) | 259 | ||||||
30,400 | Rosetta Stone, Inc. (a) | 379 | ||||||
41,200 | SeaChange International, Inc. (a) | 162 | ||||||
750 | Silver Spring Networks, Inc. (a) | 12 | ||||||
52,100 | Telenav, Inc. (a) | 287 | ||||||
42,331 | TiVo Corp. | 659 | ||||||
2,079 | Tyler Technologies, Inc. (a) | 368 | ||||||
|
| |||||||
5,716 | ||||||||
|
| |||||||
Specialty Retail — 0.95% | ||||||||
239 | Ascena Retail Group, Inc. (a) | 1 | ||||||
207 | Big 5 Sporting Goods Corp.^ | 2 | ||||||
127 | Express, Inc. (a) | 1 | ||||||
64 | GameStop Corp., Class – A | 1 | ||||||
33 | Group 1 Automotive, Inc. | 2 | ||||||
4,487 | MarineMax, Inc. (a) | 85 | ||||||
5,690 | Monro Muffler Brake, Inc. | 323 | ||||||
53 | Penske Automotive Group, Inc. | 3 | ||||||
138 | Rent-A-Center, Inc. | 2 | ||||||
98 | Sonic Automotive, Inc., Class – A | 2 | ||||||
226 | Stein Mart, Inc.^ | — | ||||||
13,499 | Tailored Brands, Inc. | 295 | ||||||
1,831 | The Children’s Place Retail Stores, Inc. | 266 | ||||||
405 | Tilly’s, Inc., Class – A | 6 | ||||||
|
| |||||||
989 | ||||||||
|
|
See accompanying notes to financial statements.
45
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Technology Hardware, Storage & Peripherals — 0.42% | ||||||||
7,000 | Astronova, Inc. | $ | 98 | |||||
12,159 | Diebold, Inc. | 199 | ||||||
14,430 | GlassBridge Enterprises, Inc. (a) | 13 | ||||||
7,793 | Pure Storage, Inc., Class – A (a) | 124 | ||||||
|
| |||||||
434 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 1.07% | ||||||||
4,400 | Columbia Sportswear Co. | 316 | ||||||
4,757 | G-III Apparel Group Ltd. (a) | 175 | ||||||
3,691 | Movado Group, Inc. | 119 | ||||||
1,497 | Oxford Industries, Inc. | 113 | ||||||
12,424 | Wolverine World Wide, Inc. | 396 | ||||||
|
| |||||||
1,119 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.06% | ||||||||
55 | Federal Agricultural Mortgage Corp., Class – C | 4 | ||||||
44 | First Defiance Financial Corp. | 2 | ||||||
79 | HomeStreet, Inc. (a) | 2 | ||||||
322 | MGIC Investment Corp. (a) | 5 | ||||||
132 | PennyMac Financial Services, Inc. (a) | 3 | ||||||
144 | Radian Group, Inc. | 3 | ||||||
263 | TrustCo Bank Corp. NY | 2 | ||||||
85 | Walker & Dunlop, Inc. (a) | 4 | ||||||
808 | WSFS Financial Corp. | 39 | ||||||
|
| |||||||
64 | ||||||||
|
| |||||||
Tobacco — 0.21% | ||||||||
4,134 | Universal Corp. | 217 | ||||||
|
| |||||||
Trading Companies & Distributors — 1.47% | ||||||||
111 | Air Lease Corp. | 5 | �� | |||||
111 | Aircastle Ltd. | 3 | ||||||
7,929 | Beacon Roofing Supply, Inc. (a) | 507 | ||||||
12,214 | BMC Stock Holdings, Inc. (a) | 309 | ||||||
4,974 | DXP Enterprises, Inc. (a) | 147 | ||||||
69 | GATX Corp. | 4 | ||||||
8,408 | MRC Global, Inc. (a) | 142 | ||||||
1,460 | SiteOne Landscape Supply, Inc. (a) | 112 | ||||||
67 | Veritiv Corp. (a) | 2 | ||||||
1,753 | Watsco, Inc. | 298 | ||||||
51 | WESCO International, Inc. (a) | 3 | ||||||
|
| |||||||
1,532 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.44% | ||||||||
7,230 | Macquarie Infrastructure Corp. | 464 | ||||||
|
| |||||||
Wireless Telecommunication Services — 0.22% | ||||||||
9,968 | Boingo Wireless, Inc. (a) | 224 | ||||||
64 | Spok Holdings, Inc. | 1 | ||||||
|
| |||||||
225 | ||||||||
|
| |||||||
Total Common Stocks | 93,776 | |||||||
|
| |||||||
Contingent Rights — 0.00% | ||||||||
Biotechnology — 0.00% | ||||||||
500 | Clinical Data, Inc.* (a)(c) | — | ||||||
24 | Dyax Corp. CVR* (a) | — | ||||||
1 | Tobira Therapeutics, Inc. CVR* (a) | — | ||||||
|
| |||||||
Total Contingent Rights | — | |||||||
|
|
Principal Amount (000) | Security Description | Value (000) | ||||||
Time Deposit — 1.90% | ||||||||
$ | 1,977 | State Street Liquidity Management Control System Eurodollar Time Deposit, | $ | 1,977 | ||||
|
| |||||||
Total Time Deposit | 1,977 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 16.10% | ||||||||
32,600 | 180 Degree Capital Corp. | 64 | ||||||
175,995 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 176 | ||||||
44,812 | State Street Institutional Liquid Reserves Fund, 1.04% (d) | 45 | ||||||
16,505,547 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 16,506 | ||||||
|
| |||||||
Total Mutual Funds | 16,791 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.16% | ||||||||
$ | 164 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $163,777 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $167,025)^^ | 164 | |||||
|
| |||||||
Total Repurchase Agreement | 164 | |||||||
|
| |||||||
Total Investments | 112,708 | |||||||
Liabilities in excess of | (8,389 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 104,319 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2017 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $327 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio’s net assets. |
(c) | Rights entitle the Portfolio to cash based on the company’s achievement of milestones in connection with a pharmaceutical drug that was brought to market. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
46
Table of Contents
HC CAPITAL TRUST
The Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Small | Advisory Research, Inc. | Ariel Investments, LLC | Frontier Capital Management Company, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | Pzena Investment Management, LLC | RMB Capital Management, LLC | HC Capital Solutions | Total | |||||||||||||||||||||||||||
Common Stocks | 13.94 | % | 7.24 | % | 36.36 | % | 0.84 | % | — | 7.24 | % | 24.26 | % | — | 89.88 | % | ||||||||||||||||||||
Contingent Rights | — | — | — | 0.00 | % | — | — | — | — | 0.00 | % | |||||||||||||||||||||||||
Time Deposit | — | 0.34 | % | 0.79 | % | — | — | 0.25 | % | 0.52 | % | — | 1.90 | % | ||||||||||||||||||||||
Mutual Funds | 0.05 | % | 0.06 | % | 0.17 | % | 0.03 | % | 15.35 | % | — | — | 0.44 | % | 16.10 | % | ||||||||||||||||||||
Repurchase Agreement | — | — | 0.16 | % | 0.00 | % | — | — | — | — | 0.16 | % | ||||||||||||||||||||||||
Other Assets (Liabilities) | -0.05 | % | -0.02 | % | -0.36 | % | 0.00 | % | -7.72 | % | 0.00 | % | 0.11 | % | 0.00 | % | -8.04 | % | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||
Total Net Assets | 13.94 | % | 7.62 | % | 37.12 | % | 0.87 | % | 7.63 | % | 7.49 | % | 24.89 | % | 0.44 | % | 100.00 | % | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Russell 2000 Mini Index Future | 175 | 3/16/18 | $ | 13,464 | $ | 13,445 | $ | (19 | ) | |||||||||
|
|
|
|
|
| |||||||||||||
$ | 13,464 | $ | 13,445 | $ | (19 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | — | ||||||||||||||||
Total Unrealized Depreciation | (19 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | (19 | ) | |||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
47
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 88.94% | ||||||||
Aerospace & Defense — 1.63% | ||||||||
2,159 | Astronics Corp. (a) | $ | 90 | |||||
6,331 | Cubic Corp. | 373 | ||||||
4,045 | Curtiss-Wright Corp. | 493 | ||||||
249 | Ducommun, Inc. (a) | 7 | ||||||
6,446 | Esterline Technologies Corp. (a) | 482 | ||||||
8,680 | Kratos Defense & Security Solutions, Inc. (a) | 92 | ||||||
14,450 | Mercury Systems, Inc. (a) | 742 | ||||||
40 | National Presto Industries, Inc. | 4 | ||||||
1,620 | Teledyne Technologies, Inc. (a) | 293 | ||||||
101 | Triumph Group, Inc. | 3 | ||||||
8,172 | Wesco Aircraft Holdings, Inc. (a) | 60 | ||||||
|
| |||||||
2,639 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.14% | ||||||||
2,434 | XPO Logistics, Inc. (a) | 223 | ||||||
|
| |||||||
Airlines — 2.11% | ||||||||
6,723 | American Airlines Group, Inc. | 350 | ||||||
49 | Copa Holdings SA, Class – A | 6 | ||||||
2,827 | Hawaiian Holdings, Inc. | 113 | ||||||
18,036 | JetBlue Airways Corp. (a) | 403 | ||||||
30,003 | United Continental Holdings, Inc. (a) | 2,022 | ||||||
62,732 | Volaris Aviation Holding Co., ADR (a) | 503 | ||||||
|
| |||||||
3,397 | ||||||||
|
| |||||||
Auto Components — 0.83% | ||||||||
100 | American Axle & Manufacturing Holdings, Inc. (a) | 2 | ||||||
99 | Cooper Tire & Rubber Co. | 3 | ||||||
2,185 | Cooper-Standard Holding, Inc. (a) | 268 | ||||||
7,769 | Dana Holding Corp. | 249 | ||||||
10,413 | Modine Manufacturing Co. (a) | 210 | ||||||
10,423 | Tenneco, Inc. | 610 | ||||||
139 | Tower International, Inc. | 4 | ||||||
|
| |||||||
1,346 | ||||||||
|
| |||||||
Banks — 7.12% | ||||||||
80 | 1st Source, Inc. | 4 | ||||||
101 | American National Bankshares, Inc. | 4 | ||||||
13,224 | Associated Banc-Corp. | 336 | ||||||
96 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 3 | ||||||
24,040 | BankUnited, Inc. | 980 | ||||||
19,178 | Banner Corp. | 1,058 | ||||||
58 | C&F Financial Corp. | 3 | ||||||
9,799 | Centerstate Bank Corp. | 252 | ||||||
5,999 | Chemical Financial Corp. | 321 | ||||||
86 | Chemung Financial Corp. | 4 | ||||||
142 | CNB Financial Corp. | 4 | ||||||
26,056 | Columbia Banking System, Inc. | 1,133 | ||||||
74 | Community Trust Bancorp, Inc. | 3 | ||||||
5,777 | Cullen/Frost Bankers, Inc. | 547 | ||||||
30,390 | CVB Financial Corp. | 716 | ||||||
160 | Fidelity Southern Corp. | 3 | ||||||
99 | Financial Institutions, Inc. | 3 | ||||||
39,332 | First Bancorp (a) | 201 | ||||||
146 | First Bancorp | 5 | ||||||
112 | First Business Financial Services, Inc. | 2 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) | ||||||||
10 | First Citizens BancShares, Inc., Class – A | $ | 4 | |||||
118 | First Community Bancshares, Inc. | 3 | ||||||
71 | First Financial Corp. | 3 | ||||||
8,212 | First Horizon National Corp. | 164 | ||||||
93 | First Interstate BancSystem, Inc., Class – A | 4 | ||||||
6,529 | First Midwest Bancorp, Inc. | 157 | ||||||
70 | Great Southern Bancorp, Inc. | 4 | ||||||
96 | Hancock Holding Co. | 5 | ||||||
74 | Heartland Financial USA, Inc. | 4 | ||||||
17,105 | Hope Bancorp, Inc. | 312 | ||||||
153 | Horizon Bancorp, Inc. | 4 | ||||||
221 | Huntington Bancshares, Inc. | 3 | ||||||
179 | Independent Bank Corp. | 4 | ||||||
97 | International Bancshares Corp. | 4 | ||||||
43,669 | Investors Bancorp, Inc. | 606 | ||||||
177 | KeyCorp | 4 | ||||||
228 | Lakeland Bancorp, Inc. | 4 | ||||||
119 | MainSource Financial Group, Inc. | 4 | ||||||
89 | MidWestOne Financial Group, Inc. | 3 | ||||||
77 | National Bankshares, Inc. | 3 | ||||||
95 | Northrim BanCorp, Inc. | 3 | ||||||
205 | Old National Bancorp | 4 | ||||||
18,232 | PacWest Bancorp | 919 | ||||||
122 | Peoples Bancorp, Inc. | 4 | ||||||
10,618 | Popular, Inc. | 376 | ||||||
174 | Premier Financial Bancorp, Inc. | 3 | ||||||
17,820 | Seacoast Banking Corporation of Florida (a) | 449 | ||||||
157 | Sierra Bancorp | 4 | ||||||
3,745 | Signature Bank (a) | 514 | ||||||
4,263 | Synovus Financial Corp. | 204 | ||||||
7,743 | TCF Financial Corp. | 159 | ||||||
17,190 | TriCo Bancshares | 651 | ||||||
155 | Triumph Bancorp, Inc. (a) | 5 | ||||||
104 | Trustmark Corp. | 3 | ||||||
167 | Umpqua Holdings Corp. | 3 | ||||||
23,112 | Webster Financial Corp. | 1,299 | ||||||
|
| |||||||
11,481 | ||||||||
|
| |||||||
Biotechnology — 3.68% | ||||||||
155 | Acorda Therapeutics, Inc. (a) | 3 | ||||||
382 | Alkermes PLC (a) | 21 | ||||||
2,067 | Anaptysbio, Inc. (a) | 208 | ||||||
62 | Aptevo Therapeutics, Inc. (a) | — | ||||||
2,269 | AveXis, Inc. (a) | 251 | ||||||
2,960 | Bluebird Bio, Inc. (a) | 527 | ||||||
2,889 | Blueprint Medicines Corp. (a) | 218 | ||||||
3,270 | Clovis Oncology, Inc. (a) | 222 | ||||||
149 | Emergent BioSolutions, Inc. (a) | 7 | ||||||
8,640 | Exact Sciences Corp. (a) | 454 | ||||||
9,243 | Foundation Medicine, Inc. (a) | 631 | ||||||
5,565 | Ionis Pharmaceuticals, Inc. (a) | 280 | ||||||
6,470 | Juno Therapeutics, Inc. (a) | 296 | ||||||
2,692 | Loxo Oncology, Inc. (a) | 227 | ||||||
13,528 | Myriad Genetics, Inc. (a) | 465 | ||||||
7,575 | Natera, Inc. (a) | 68 | ||||||
4,080 | Neurocrine Biosciences, Inc. (a) | 317 |
See accompanying notes to financial statements.
48
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Biotechnology (continued) | ||||||||
1,184 | PDL BioPharma, Inc. (a) | $ | 3 | |||||
15,582 | Repligen Corp. (a) | 565 | ||||||
2,820 | Sage Therapeutics, Inc. (a) | 464 | ||||||
8,363 | Sangamo BioSciences, Inc. (a) | 137 | ||||||
2,781 | Seattle Genetics, Inc. (a) | 149 | ||||||
3,020 | Spark Therapeutics, Inc. (a) | 155 | ||||||
1,751 | Tesaro, Inc. (a) | 145 | ||||||
2,900 | Ultragenyx Pharmaceutical, Inc. (a) | 135 | ||||||
|
| |||||||
5,948 | ||||||||
|
| |||||||
Building Products — 1.75% | ||||||||
4,319 | Armstrong World Industries, Inc. (a) | 262 | ||||||
9,553 | CaesarStone Sdot Yam Ltd. (a) | 210 | ||||||
19,176 | Gibraltar Industries, Inc. (a) | 633 | ||||||
7,689 | Jeld-Wen Holding, Inc. (a) | 303 | ||||||
4,968 | Masonite International Corp. (a) | 368 | ||||||
10,132 | Ply Gem Holdings, Inc. (a) | 187 | ||||||
4,815 | Trex Company, Inc. (a) | 522 | ||||||
9,156 | Universal Forest Products, Inc. | 344 | ||||||
|
| |||||||
2,829 | ||||||||
|
| |||||||
Capital Markets — 1.96% | ||||||||
17,329 | Artisan Partners Asset Management, Inc., Class – A | 684 | ||||||
17 | Donnelley Financial Solutions, Inc. (a) | — | ||||||
4,373 | E*Trade Financial Corp. (a) | 217 | ||||||
4,730 | Evercore Partners, Inc., Class – A | 426 | ||||||
379 | Gain Capital Holdings, Inc. | 4 | ||||||
11,234 | Greenhill & Co., Inc.^ | 219 | ||||||
116 | Houlihan Lokey, Inc. | 5 | ||||||
6,020 | LPL Financial Holdings, Inc. | 344 | ||||||
271 | Manning & Napier, Inc. | 1 | ||||||
21,801 | Pzena Investment Management, Inc. | 233 | ||||||
5,009 | Raymond James Financial, Inc. | 447 | ||||||
9,798 | Stifel Financial Corp. | 584 | ||||||
|
| |||||||
3,164 | ||||||||
|
| |||||||
Chemicals — 2.82% | ||||||||
147 | A. Schulman, Inc. | 5 | ||||||
3,672 | Albemarle Corp. | 470 | ||||||
73 | Cabot Corp. | 4 | ||||||
7,942 | FMC Corp. | 752 | ||||||
421 | FutureFuel Corp. | 6 | ||||||
302 | Huntsman Corp. | 10 | ||||||
2,689 | Innophos Holdings, Inc. | 126 | ||||||
17,902 | Kraton Performance Polymers, Inc. (a) | 863 | ||||||
1,505 | NewMarket Corp. | 598 | ||||||
9,282 | Platform Specialty Products Corp. (a) | 92 | ||||||
9,460 | PolyOne Corp. | 412 | ||||||
9,282 | Sensient Technologies Corp. | 679 | ||||||
79 | Stepan Co. | 6 | ||||||
73 | Trinseo SA | 5 | ||||||
25,369 | Tronox Ltd., Class – A | 520 | ||||||
104 | Westlake Chemical Corp. | 11 | ||||||
|
| |||||||
4,559 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Commercial Services & Supplies — 1.24% | ||||||||
241 | ACCO Brands Corp. (a) | $ | 3 | |||||
4,758 | Advanced Disposal Services, Inc. (a) | 114 | ||||||
18,032 | Aqua Metals, Inc. (a) | 38 | ||||||
11,214 | ARC Document Solutions, Inc. (a) | 29 | ||||||
13,112 | Covanta Holding Corp. | 222 | ||||||
142 | Ennis, Inc. | 3 | ||||||
26,840 | Essendant, Inc. | 249 | ||||||
9,914 | Healthcare Services Group, Inc. | 523 | ||||||
10,526 | Interface, Inc. | 265 | ||||||
17 | LSC Communications, Inc. | — | ||||||
87 | McGrath RentCorp | 4 | ||||||
7,139 | Multi-Color Corp. | 534 | ||||||
101 | Quad Graphics, Inc. | 2 | ||||||
47 | RR Donnelley & Sons Co. | — | ||||||
509 | Steelcase, Inc., Class – A | 8 | ||||||
23 | UniFirst Corp. | 4 | ||||||
72 | VSE Corp. | 3 | ||||||
|
| |||||||
2,001 | ||||||||
|
| |||||||
Communications Equipment — 0.24% | ||||||||
134 | BEL Fuse, Inc., Class – B | 3 | ||||||
183 | Black Box Corp. | 1 | ||||||
198 | Comtech Telecommunications Corp. | 4 | ||||||
66 | EchoStar Corp., Class – A (a) | 4 | ||||||
23,436 | Infinera Corp. (a) | 149 | ||||||
3,163 | Silicom Ltd. | 222 | ||||||
|
| |||||||
383 | ||||||||
|
| |||||||
Construction & Engineering — 1.91% | ||||||||
5,413 | Granite Construction, Inc. | 343 | ||||||
16,370 | KBR, Inc. | 325 | ||||||
21,156 | MasTec, Inc. (a) | 1,035 | ||||||
164 | MYR Group, Inc. (a) | 6 | ||||||
22,531 | Tutor Perini Corp. (a) | 571 | ||||||
4,859 | Valmont Industries, Inc. | 806 | ||||||
|
| |||||||
3,086 | ||||||||
|
| |||||||
Construction Materials — 1.19% | ||||||||
4,811 | Eagle Materials, Inc., Class – A | 544 | ||||||
40,433 | Forterra, Inc.^ (a) | 449 | ||||||
1,568 | Martin Marietta Materials, Inc. | 347 | ||||||
10,376 | Summit Materials, Inc., Class – A (a) | 326 | ||||||
3,079 | U.S. Concrete, Inc. (a) | 258 | ||||||
|
| |||||||
1,924 | ||||||||
|
| |||||||
Consumer Finance — 0.43% | ||||||||
104 | Encore Capital Group, Inc. (a) | 4 | ||||||
8,681 | Green Dot Corp., Class – A (a) | 524 | ||||||
66 | Nelnet, Inc., Class – A | 4 | ||||||
4,886 | PRA Group, Inc. (a) | 162 | ||||||
225 | Santander Consumer USA Holdings, Inc. | 4 | ||||||
|
| |||||||
698 | ||||||||
|
| |||||||
Containers & Packaging — 1.26% | ||||||||
6,492 | AptarGroup, Inc. | 560 | ||||||
19,316 | Berry Plastics Group, Inc. (a) | 1,133 | ||||||
21,232 | Graphic Packaging Holding Co. | 328 | ||||||
94 | Greif, Inc. | 7 | ||||||
121 | Greif, Inc., Class – A | 7 | ||||||
|
| |||||||
2,035 | ||||||||
|
|
See accompanying notes to financial statements.
49
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Distributors — 0.43% | ||||||||
5,350 | Pool Corp. | $ | 694 | |||||
|
| |||||||
Diversified Consumer Services — 1.72% | ||||||||
136 | Adtalem Global Education, Inc. (a) | 6 | ||||||
103 | American Public Education, Inc. (a) | 3 | ||||||
12,524 | Bright Horizons Family Solutions, Inc. (a) | 1,176 | ||||||
59 | Capella Education Co. | 5 | ||||||
34,839 | Career Education Corp. (a) | 421 | ||||||
35,694 | Chegg, Inc. (a) | 583 | ||||||
6 | Graham Holdings Co. | 3 | ||||||
6,390 | Grand Canyon Education, Inc. (a) | 572 | ||||||
213 | Liberty Tax, Inc. | 2 | ||||||
78 | Strayer Education, Inc. | 7 | ||||||
|
| |||||||
2,778 | ||||||||
|
| |||||||
Diversified Financial Services — 0.24% | ||||||||
14,706 | Leucadia National Corp. | 390 | ||||||
148 | Marlin Business Services Corp. | 3 | ||||||
|
| |||||||
393 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.50% | ||||||||
17,457 | Cogent Communications Group, Inc. | 790 | ||||||
89 | Consolidated Communications Holdings, Inc. | 1 | ||||||
88 | Hawaiian Telcom Holdco, Inc. (a) | 3 | ||||||
125 | IDT Corp. | 1 | ||||||
219 | Iridium Communications, Inc. (a) | 3 | ||||||
358 | Windstream Holdings, Inc. | 1 | ||||||
|
| |||||||
799 | ||||||||
|
| |||||||
Electric Utilities — 0.02% | ||||||||
220 | Hawaiian Electric Industries, Inc. | 8 | ||||||
206 | PNM Resources, Inc. | 9 | ||||||
162 | Portland General Electric Co. | 7 | ||||||
518 | Spark Energy, Inc., Class – A | 6 | ||||||
|
| |||||||
30 | ||||||||
|
| |||||||
Electrical Equipment — 0.48% | ||||||||
4,428 | Encore Wire Corp. | 215 | ||||||
6,375 | EnerSys | 445 | ||||||
16,049 | LSI Industries, Inc. | 110 | ||||||
83 | Regal-Beloit Corp. | 6 | ||||||
|
| |||||||
776 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 5.78% |
| |||||||
4,812 | Anixter International, Inc. (a) | 366 | ||||||
182 | AVX Corp. | 3 | ||||||
8,967 | Belden, Inc. | 692 | ||||||
115 | Benchmark Electronics, Inc. (a) | 3 | ||||||
1,064 | Coherent, Inc. (a) | 300 | ||||||
7,410 | Control4 Corp. (a) | 221 | ||||||
53 | Dolby Laboratories, Inc., Class – A | 3 | ||||||
73 | ePlus, Inc. (a) | 5 | ||||||
1,029 | FARO Technologies, Inc. (a) | 48 | ||||||
31,385 | Flextronics International Ltd. (a) | 565 | ||||||
22,962 | II-VI, Inc. (a) | 1,078 | ||||||
5,580 | Insight Enterprises, Inc. (a) | 214 | ||||||
1,916 | IPG Photonics Corp. (a) | 410 | ||||||
8,326 | Itron, Inc. (a) | 568 |
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components (continued) |
| |||||||
18,511 | Jabil Circuit, Inc. | $ | 486 | |||||
202 | Kimball Electronics, Inc. (a) | 4 | ||||||
5,407 | Littelfuse, Inc. | 1,070 | ||||||
74 | Methode Electronics, Inc. | 3 | ||||||
98 | PC Connection, Inc. | 3 | ||||||
57 | Plexus Corp. (a) | 3 | ||||||
5,926 | Rogers Corp. (a) | 960 | ||||||
91 | Sanmina Corp. (a) | 3 | ||||||
7,389 | ScanSource, Inc. (a) | 265 | ||||||
5,301 | SYNNEX Corp. | 721 | ||||||
34 | Tech Data Corp. (a) | 3 | ||||||
439 | TTM Technologies, Inc. (a) | 7 | ||||||
5,893 | Universal Display Corp. | 1,017 | ||||||
16,338 | VeriFone Systems, Inc. (a) | 289 | ||||||
207 | Vishay Intertechnology, Inc. | 4 | ||||||
|
| |||||||
9,314 | ||||||||
|
| |||||||
Energy Equipment & Services — 0.43% | ||||||||
80 | Diamond Offshore Drilling, Inc. (a) | 1 | ||||||
2,755 | Dril-Quip, Inc. (a) | 131 | ||||||
150 | Exterran Corp. (a) | 5 | ||||||
103 | PHI, Inc. (a) | 1 | ||||||
42,036 | Superior Energy Services, Inc. (a) | 406 | ||||||
4,455 | TechnipFMC PLC | 139 | ||||||
|
| |||||||
683 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 1.97% | ||||||||
26,581 | Acadia Realty Trust | 727 | ||||||
989 | Ashford Hospitality Trust | 7 | ||||||
431 | CBL & Associates Properties, Inc. | 2 | ||||||
529 | Cedar Realty Trust, Inc. | 3 | ||||||
893 | Colony Northstar, Inc. | 10 | ||||||
4,311 | DiamondRock Hospitality Co. | 49 | ||||||
6,755 | EastGroup Properties, Inc. | 597 | ||||||
27,379 | Equity Commonwealth (a) | 836 | ||||||
50,544 | Investors Real Estate Trust | 287 | ||||||
23,040 | LaSalle Hotel Properties | 647 | ||||||
388 | Lexington Realty Trust | 4 | ||||||
179 | Pennsylvania Real Estate Investment Trust | 2 | ||||||
37 | PS Business Parks, Inc. | 5 | ||||||
1,303 | RAIT Financial Trust | — | ||||||
311 | RLJ Lodging Trust | 7 | ||||||
329 | Washington Prime Group, Inc. | 2 | ||||||
|
| |||||||
3,185 | ||||||||
|
| |||||||
Food & Staples Retailing — 0.55% | ||||||||
7,850 | Casey’s General Stores, Inc. | 878 | ||||||
57 | Ingles Markets, Inc., Class – A | 2 | ||||||
71 | SpartanNash Co. | 2 | ||||||
73 | Village Super Market, Inc., Class – A | 2 | ||||||
|
| |||||||
884 | ||||||||
|
| |||||||
Food Products — 0.73% | ||||||||
26,918 | Amplify Snack Brands, Inc. (a) | 323 | ||||||
64 | Cal-Maine Foods, Inc. (a) | 3 | ||||||
6,799 | Darling Ingredients, Inc. (a) | 123 | ||||||
153 | Dean Foods Co. | 2 | ||||||
51 | Fresh Del Monte Produce, Inc. | 2 |
See accompanying notes to financial statements.
50
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Food Products (continued) | ||||||||
4,780 | J&J Snack Foods Corp. | $ | 726 | |||||
62 | John B. Sanfilippo & Son, Inc. | 4 | ||||||
39 | Sanderson Farms, Inc. | 5 | ||||||
|
| |||||||
1,188 | ||||||||
|
| |||||||
Gas Utilities — 0.67% | ||||||||
91 | Southwest Gas Corp. | 7 | ||||||
22,835 | UGI Corp. | 1,072 | ||||||
|
| |||||||
1,079 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 4.98% | ||||||||
2,396 | Abiomed, Inc. (a) | 449 | ||||||
6,550 | Cantel Medical Corp. | 674 | ||||||
13,537 | Cardiovascular Systems, Inc. (a) | 321 | ||||||
7,517 | DexCom, Inc. (a) | 431 | ||||||
4,328 | Edwards Lifesciences Corp. (a) | 488 | ||||||
106 | Exactech, Inc. (a) | 5 | ||||||
84 | Halyard Health, Inc. (a) | 4 | ||||||
24,800 | Insulet Corp. (a) | 1,712 | ||||||
12,685 | Irhythm Technologies, Inc. (a) | 711 | ||||||
6,650 | Neogen Corp. (a) | 547 | ||||||
2,550 | Nevro Corp. (a) | 176 | ||||||
13,878 | Novocure Ltd. (a) | 280 | ||||||
1,758 | Penumbra, Inc. (a) | 165 | ||||||
752 | RTI Surgical, Inc. (a) | 3 | ||||||
3,834 | STERIS PLC | 335 | ||||||
8,054 | Tandem Diabetes Care, Inc.^ (a) | 19 | ||||||
4,013 | The Cooper Companies, Inc. | 874 | ||||||
8,340 | West Pharmaceutical Services, Inc. | 823 | ||||||
|
| |||||||
8,017 | ||||||||
|
| |||||||
Health Care Providers & Services — 1.63% | ||||||||
16,415 | Acadia Healthcare Company, Inc. (a) | 536 | ||||||
115 | Aceto Corp. | 1 | ||||||
70 | Almost Family, Inc. (a) | 4 | ||||||
21 | Chemed Corp. | 5 | ||||||
31,432 | Diplomat Pharmacy, Inc. (a) | 632 | ||||||
6,540 | HealthEquity, Inc. (a) | 305 | ||||||
72 | HealthSouth Corp. | 4 | ||||||
237 | Kindred Healthcare, Inc. | 2 | ||||||
63 | LHC Group, Inc. (a) | 4 | ||||||
44 | LifePoint Hospitals, Inc. (a) | 2 | ||||||
42 | Magellan Health Services, Inc. (a) | 4 | ||||||
56 | Molina Heathcare, Inc. (a) | 4 | ||||||
44 | National Healthcare Corp. | 3 | ||||||
8,705 | Owens & Minor, Inc. | 164 | ||||||
59 | Providence Service Corp. (a) | 4 | ||||||
253 | Select Medical Holdings Corp. (a) | 4 | ||||||
15,431 | Teladoc, Inc. (a) | 538 | ||||||
96 | Tenet Healthcare Corp. (a) | 1 | ||||||
133 | The Ensign Group, Inc. | 3 | ||||||
5,202 | Tivity Health, Inc. (a) | 190 | ||||||
9,417 | Triple-S Management Corp., Class – A (a) | 234 | ||||||
15 | UnitedHealth Group, Inc. | 3 | ||||||
|
| |||||||
2,647 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Health Care Technology — 0.80% | ||||||||
148 | Inovalon Holdings, Inc., Class – A (a) | $ | 2 | |||||
6,510 | Medidata Solutions, Inc. (a) | 413 | ||||||
14,618 | Omnicell, Inc. (a) | 709 | ||||||
5,594 | Vocera Communications, Inc. (a) | 169 | ||||||
|
| |||||||
1,293 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.38% | ||||||||
22,349 | Arcos Dorados Holdings, Inc. (a) | 231 | ||||||
162 | Bloomin’ Brands, Inc. | 3 | ||||||
462 | Century Casinos, Inc. (a) | 4 | ||||||
173 | International Game Technology PLC | 5 | ||||||
83 | International Speedway Corp., Class – A | 3 | ||||||
136 | Marcus Corp. | 4 | ||||||
321 | Pinnacle Entertainment, Inc. (a) | 11 | ||||||
8,533 | Planet Fitness, Inc., Class – A (a) | 295 | ||||||
60 | Red Robin Gourmet Burgers, Inc. (a) | 3 | ||||||
205 | SeaWorld Entertainment, Inc. (a) | 3 | ||||||
155 | Speedway Motorsports, Inc. | 3 | ||||||
7,863 | Vail Resorts, Inc. | 1,671 | ||||||
|
| |||||||
2,236 | ||||||||
|
| |||||||
Household Durables — 0.54% | ||||||||
470 | Beazer Homes USA, Inc. (a) | 9 | ||||||
1,389 | Cavco Industries, Inc. (a) | 212 | ||||||
112 | CSS Industries, Inc. | 3 | ||||||
74 | Flexsteel Industries, Inc. | 3 | ||||||
3,515 | iRobot Corp. (a) | 270 | ||||||
191 | Libbey, Inc. | 1 | ||||||
203 | Lifetime Brands, Inc. | 3 | ||||||
196 | Taylor Morrison Home Corp., Class – A (a) | 5 | ||||||
7,791 | Universal Electronics, Inc. (a) | 369 | ||||||
|
| |||||||
875 | ||||||||
|
| |||||||
Household Products — 0.00% | ||||||||
51 | Central Garden & Pet Co. (a) | 2 | ||||||
54 | Central Garden & Pet Co., Class – A (a) | 2 | ||||||
33 | Oil-Dri Corporation of America | 1 | ||||||
|
| |||||||
5 | ||||||||
|
| |||||||
Independent Power & Renewable Electricity Producers — 0.00% | ||||||||
434 | NRG Yield, Inc., Class – C | 8 | ||||||
|
| |||||||
Insurance — 2.87% | ||||||||
9,705 | American Equity Investment Life Holding Co. | 298 | ||||||
14,819 | American Financial Group, Inc. | 1,609 | ||||||
16,735 | Argo Group International Holdings Ltd. | 1,032 | ||||||
12,654 | Aspen Insurance Holdings Ltd. | 514 | ||||||
96 | Assured Guaranty Ltd. | 3 | ||||||
2,012 | Everest Re Group Ltd. | 445 | ||||||
8,159 | Genworth Financial, Inc., Class – A (a) | 25 | ||||||
219 | Hallmark Financial Services, Inc. (a) | 2 | ||||||
1,688 | Hanover Insurance Group, Inc. | 182 | ||||||
84 | HCI Group, Inc. | 3 | ||||||
198 | Heritage Insurance Holdings, Inc. | 4 | ||||||
195 | Maiden Holdings Ltd. | 1 | ||||||
12 | National Western Life Group, Inc., Class – A | 4 | ||||||
122 | Universal Insurance Holdings, Inc. | 3 | ||||||
3,697 | Validus Holdings Ltd. | 173 | ||||||
4,456 | W.R. Berkley Corp. | 319 | ||||||
|
| |||||||
4,617 | ||||||||
|
|
See accompanying notes to financial statements.
51
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Internet & Direct Marketing Retail — 0.20% | ||||||||
284 | 1-800-FLOWERS.COM, Inc., Class – A (a) | $ | 3 | |||||
11,511 | Etsy, Inc. (a) | 235 | ||||||
3,247 | Stitch Fix, Inc., Class – A (a) | 84 | ||||||
|
| |||||||
322 | ||||||||
|
| |||||||
Internet Software & Services — 3.38% | ||||||||
16,871 | 2U, Inc. (a) | 1,088 | ||||||
4,823 | Akamai Technologies, Inc. (a) | 314 | ||||||
7,505 | Benefitfocus, Inc. (a) | 203 | ||||||
280 | Blucora, Inc. (a) | 6 | ||||||
22,052 | Box, Inc., Class – A (a) | 466 | ||||||
43,985 | Brightcove, Inc. (a) | 312 | ||||||
7,154 | Care.com, Inc. (a) | 129 | ||||||
10,686 | Coupa Software, Inc. (a) | 334 | ||||||
433 | DHI Group, Inc. (a) | 1 | ||||||
27,366 | Gogo, Inc.^ (a) | 309 | ||||||
8,920 | GrubHub, Inc. (a) | 640 | ||||||
44 | j2 Global, Inc. | 3 | ||||||
187 | Match Group, Inc.^ (a) | 6 | ||||||
13,850 | New Relic, Inc. (a) | 800 | ||||||
21,006 | Nutanix, Inc., Class – A (a) | 741 | ||||||
4,988 | Web.com Group, Inc. (a) | 109 | ||||||
|
| |||||||
5,461 | ||||||||
|
| |||||||
IT Services — 1.36% | ||||||||
1,010 | Alliance Data Systems Corp. | 256 | ||||||
86 | Blackhawk Network Holdings, Inc. (a) | 3 | ||||||
94 | Booz Allen Hamilton Holding Corp. | 4 | ||||||
31 | CACI International, Inc., Class – A (a) | 4 | ||||||
68 | Cardtronics PLC (a) | 1 | ||||||
60 | Cass Information Systems, Inc. | 3 | ||||||
110 | Convergys Corp. | 3 | ||||||
73 | CoreLogic, Inc. (a) | 3 | ||||||
70 | CSG Systems International, Inc. | 3 | ||||||
2,626 | Euronet Worldwide, Inc. (a) | 221 | ||||||
3,430 | Global Payments, Inc. | 344 | ||||||
10,502 | Jack Henry & Associates, Inc. | 1,228 | ||||||
59 | Leidos Holdings, Inc. | 4 | ||||||
75 | ManTech International Corp., Class – A | 4 | ||||||
136 | Perficient, Inc. (a) | 3 | ||||||
50 | Science Applications International Corp. | 4 | ||||||
95 | Sykes Enterprises, Inc. (a) | 3 | ||||||
106 | TeleTech Holdings, Inc. | 4 | ||||||
208 | The Hackett Group, Inc. | 3 | ||||||
220 | Travelport Worldwide Ltd. | 3 | ||||||
2,105 | Virtusa Corp. (a) | 93 | ||||||
|
| |||||||
2,194 | ||||||||
|
| |||||||
Leisure Products — 0.51% | ||||||||
33,054 | Callaway Golf Co. | 461 | ||||||
378 | JAKKS Pacific, Inc. (a) | 1 | ||||||
147 | Johnson Outdoors, Inc., Class – A | 9 | ||||||
24,238 | Vista Outdoor, Inc. (a) | 353 | ||||||
|
| |||||||
824 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Life Sciences Tools & Services — 1.10% | ||||||||
34 | Bio-Rad Laboratories, Inc., Class – A (a) | $ | 8 | |||||
156 | Bruker Biosciences Corp. | 5 | ||||||
7,771 | Cambrex Corp. (a) | 373 | ||||||
1,824 | Illumina, Inc. (a) | 399 | ||||||
124 | INC Research Holdings, Inc., Class – A (a) | 5 | ||||||
174 | Luminex Corp. | 3 | ||||||
67,470 | NeoGenomics, Inc. (a) | 599 | ||||||
24,935 | Pacific Biosciences of California, Inc. (a) | 66 | ||||||
113 | PRA Health Sciences, Inc. (a) | 10 | ||||||
9,721 | Qiagen N.V. (a) | 301 | ||||||
|
| |||||||
1,769 | ||||||||
|
| |||||||
Machinery — 4.06% | ||||||||
13,025 | Actuant Corp., Class – A | 330 | ||||||
102 | AGCO Corp. | 7 | ||||||
91 | American Railcar Industries | 4 | ||||||
168 | Briggs & Stratton Corp. | 4 | ||||||
13,997 | Chart Industries, Inc. (a) | 656 | ||||||
303 | Columbus McKinnon Corp. | 12 | ||||||
17,116 | Energy Recovery, Inc. (a) | 150 | ||||||
257 | Freightcar America, Inc. | 4 | ||||||
127 | Global Brass & Copper Holdings, Inc. | 4 | ||||||
60 | Hyster-Yale Materials Handling, Inc., Class – A | 5 | ||||||
8,573 | IDEX Corp. | 1,131 | ||||||
10,498 | ITT, Inc. | 560 | ||||||
5,840 | Kadant, Inc. | 586 | ||||||
9,710 | Kornit Digital Ltd. (a) | 157 | ||||||
7,329 | Lincoln Electric Holdings, Inc. | 671 | ||||||
22,112 | Meritor, Inc. (a) | 519 | ||||||
232 | Miller Industries, Inc. | 6 | ||||||
6,333 | Navistar International Corp. (a) | 272 | ||||||
100 | Oshkosh Corp. | 9 | ||||||
4,843 | Proto Labs, Inc. (a) | 499 | ||||||
3,762 | Terex Corp. | 181 | ||||||
155 | The Greenbrier Companies, Inc. | 8 | ||||||
155 | The Timken Co. | 8 | ||||||
13,368 | TriMas Corp. (a) | 358 | ||||||
235 | Trinity Industries, Inc. | 9 | ||||||
323 | Wabash National Corp. | 7 | ||||||
1,407 | WABCO Holdings, Inc. (a) | 202 | ||||||
2,215 | Woodward, Inc. | 170 | ||||||
|
| |||||||
6,529 | ||||||||
|
| |||||||
Marine — 0.16% | ||||||||
311 | Costamare, Inc. | 2 | ||||||
3,954 | Kirby Corp. (a) | 264 | ||||||
|
| |||||||
266 | ||||||||
|
| |||||||
Media — 0.60% | ||||||||
82 | AMC Entertainment Holdings, Inc., Class – A | 1 | ||||||
97 | Discovery Communications, Inc., Class – A (a) | 2 | ||||||
179 | Entercom Communications Corp. | 2 | ||||||
179 | Gannett, Inc. Com | 2 | ||||||
94,470 | Global Eagle Entertainment, Inc. (a) | 217 | ||||||
12,813 | IMAX Corp. (a) | 297 | ||||||
13,877 | Lions Gate Entertainment Corp., Class – B (a) | 441 | ||||||
317 | Salem Communications Corp., Class – A | 1 | ||||||
80 | Sinclair Broadcast Group, Inc., Class – A | 3 |
See accompanying notes to financial statements.
52
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Media (continued) | ||||||||
153 | Time, Inc. | $ | 3 | |||||
51 | Viacom, Inc., Class – A | 2 | ||||||
|
| |||||||
971 | ||||||||
|
| |||||||
Metals & Mining — 2.55% | ||||||||
8,149 | Agnico-Eagle Mines Ltd. | 376 | ||||||
47,300 | Allegheny Technologies, Inc. (a) | 1,142 | ||||||
17,622 | Carpenter Technology Corp. | 899 | ||||||
44,437 | Coeur d’Alene Mines Corp. (a) | 333 | ||||||
232 | Commercial Metals Co. | 5 | ||||||
66,120 | Ferroglobe PLC (a) | 1,072 | ||||||
61,874 | Ferroglobe R&W Insurance Trust Co.* (a) | — | ||||||
3,715 | Steel Dynamics, Inc. | 160 | ||||||
5,435 | Warrior Met Coal, Inc. | 137 | ||||||
|
| |||||||
4,124 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.46% | ||||||||
373 | AG Mortgage Investment Trust, Inc. | 7 | ||||||
564 | Annaly Capital Management, Inc. | 7 | ||||||
1,149 | Anworth Mortgage Asset Corp. | 6 | ||||||
125 | Apollo Commercial Real Estate Finance, Inc. | 2 | ||||||
371 | Ares Commercial Real Estate Corp. | 5 | ||||||
466 | Capstead Mortgage Corp. | 4 | ||||||
343 | Chimera Investment Corp. | 6 | ||||||
483 | CYS Investments, Inc. | 4 | ||||||
694 | Dynex Capital, Inc. | 5 | ||||||
387 | Invesco Mortgage Capital, Inc. | 7 | ||||||
347 | MTGE Investment Corp. | 6 | ||||||
412 | New Residential Investment Corp. | 7 | ||||||
45,287 | Redwood Trust, Inc. | 672 | ||||||
576 | Western Asset Mortgage Capital Corp. | 6 | ||||||
|
| |||||||
744 | ||||||||
|
| |||||||
Multiline Retail — 0.08% | ||||||||
2,328 | Big Lots, Inc. | 130 | ||||||
44 | Dillard’s, Inc., Class – A | 3 | ||||||
|
| |||||||
133 | ||||||||
|
| |||||||
Multi-Utilities — 0.33% | ||||||||
161 | Avista Corp. | 8 | ||||||
8,513 | Black Hills Corp. | 512 | ||||||
161 | Unitil Corp. | 7 | ||||||
|
| |||||||
527 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.37% | ||||||||
45 | Andeavor | 5 | ||||||
288 | Ardmore Shipping Corp. (a) | 2 | ||||||
43,185 | Carrizo Oil & Gas, Inc. (a) | 919 | ||||||
364 | Delek US Holdings, Inc. | 13 | ||||||
428 | DHT Holdings, Inc. | 2 | ||||||
290 | Dorian LPG Ltd. (a) | 2 | ||||||
19,461 | Energen Corp. (a) | 1,121 | ||||||
12,599 | Euronav N.V. | 117 | ||||||
22,086 | GasLog Ltd. | 492 | ||||||
376 | Gener8 Maritime, Inc. (a) | 2 | ||||||
5,475 | Golar LNG Ltd. | 163 | ||||||
59 | International Seaways, Inc. (a) | 1 | ||||||
10,482 | Matador Resources Co. (a) | 326 |
Shares | Security Description | Value (000) | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
9,209 | Murphy Oil Corp. | $ | 286 | |||||
11,664 | Navigator Holdings Ltd.^ (a) | 115 | ||||||
1,356 | Navios Maritime Acquisition Co. | 2 | ||||||
180 | Overseas Shipholding Group, Inc. (a) | — | ||||||
34 | REX American Resources Corp. (a) | 3 | ||||||
456 | Scorpio Tankers, Inc. | 1 | ||||||
11,503 | SM Energy Co. | 254 | ||||||
672 | Teekay Tankers Ltd. | 1 | ||||||
|
| |||||||
3,827 | ||||||||
|
| |||||||
Paper & Forest Products — 0.14% | ||||||||
103 | Domtar Corp. | 5 | ||||||
8,133 | Louisiana-Pacific Corp. (a) | 214 | ||||||
171 | P.H. Glatfelter Co. | 4 | ||||||
95 | Schweitzer-Mauduit International, Inc. | 4 | ||||||
|
| |||||||
227 | ||||||||
|
| |||||||
Personal Products — 0.00% | ||||||||
24 | Nu Skin Enterprises, Inc., Class – A | 2 | ||||||
|
| |||||||
Pharmaceuticals — 0.89% | ||||||||
7,439 | Catalent, Inc. (a) | 306 | ||||||
8,932 | Corcept Therapeutics, Inc. (a) | 161 | ||||||
16,075 | Impax Laboratories, Inc. (a) | 268 | ||||||
9,852 | Intersect ENT, Inc. (a) | 319 | ||||||
4,002 | Nektar Therapeutics (a) | 239 | ||||||
240 | Phibro Animal Health Corp., Class – A | 8 | ||||||
68 | Prestige Brands Holdings, Inc. (a) | 3 | ||||||
109 | The Medicines Co. (a) | 3 | ||||||
3,403 | Zogenix, Inc. (a) | 136 | ||||||
|
| |||||||
1,443 | ||||||||
|
| |||||||
Professional Services — 0.22% | ||||||||
243 | CBIZ, Inc. (a) | 3 | ||||||
131 | Kelly Services, Inc., Class – A | 4 | ||||||
146 | Kforce, Inc. | 4 | ||||||
8,113 | Korn Ferry International | 335 | ||||||
129 | TrueBlue, Inc. (a) | 4 | ||||||
|
| |||||||
350 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.29% | ||||||||
17,160 | Alexander & Baldwin, Inc. | 476 | ||||||
|
| |||||||
Road & Rail — 0.37% | ||||||||
202 | ArcBest Corp. | 7 | ||||||
5,270 | Avis Budget Group, Inc. (a) | 231 | ||||||
129 | Covenant Transportation Group, Inc., Class – A (a) | 4 | ||||||
7,831 | Knight-Swift Transportation Holdings, Inc. | 343 | ||||||
158 | P.A.M. Transportation Services, Inc. (a) | 5 | ||||||
|
| |||||||
590 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 6.11% | ||||||||
663 | Amkor Technology, Inc. (a) | 7 | ||||||
2,144 | Cavium, Inc. (a) | 180 | ||||||
7,337 | CEVA, Inc. (a) | 339 | ||||||
89 | Cirrus Logic, Inc. (a) | 5 | ||||||
313 | Cohu, Inc. | 7 | ||||||
10,764 | Cree, Inc. (a) | 400 | ||||||
62,989 | Cypress Semiconductor Corp. | 960 | ||||||
168 | Diodes, Inc. (a) | 5 |
See accompanying notes to financial statements.
53
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
245 | Entegris, Inc. | $ | 7 | |||||
66 | First Solar, Inc. (a) | 4 | ||||||
12,737 | FormFactor, Inc. (a) | 199 | ||||||
13,936 | Integrated Device Technology, Inc. (a) | 414 | ||||||
326 | IXYS Corp. (a) | 8 | ||||||
16,917 | MA-COM Technology Solutions Holdings, Inc. (a) | 550 | ||||||
8,001 | Maxim Integrated Products, Inc. | 418 | ||||||
8,950 | Microsemi Corp. (a) | 462 | ||||||
7,029 | MKS Instruments, Inc. | 664 | ||||||
12,635 | Monolithic Power Systems, Inc. | 1,420 | ||||||
19,247 | ON Semiconductor Corp. (a) | 403 | ||||||
343 | Photronics, Inc. (a) | 3 | ||||||
12,911 | Qorvo, Inc. (a) | 860 | ||||||
112,138 | QuickLogic Corp. (a) | 195 | ||||||
11,620 | Semtech Corp. (a) | 397 | ||||||
2,313 | Silicon Laboratories, Inc. (a) | 204 | ||||||
7,811 | Skyworks Solutions, Inc. | 742 | ||||||
6,012 | SolarEdge Technologies, Inc. (a) | 225 | ||||||
64 | Synaptics, Inc. (a) | 3 | ||||||
662 | Ultra Clean Holdings, Inc. (a) | 15 | ||||||
27,655 | Veeco Instruments, Inc. (a) | 411 | ||||||
14,587 | Xperi Corp. | 356 | ||||||
|
| |||||||
9,863 | ||||||||
|
| |||||||
Software — 5.05% | ||||||||
6,539 | Barracuda Networks, Inc. (a) | 180 | ||||||
8,850 | Blackline, Inc. (a) | 290 | ||||||
11,080 | CommVault Systems, Inc. (a) | 582 | ||||||
6,020 | Digimarc Corp.^ (a) | 218 | ||||||
54 | Ebix, Inc. | 4 | ||||||
1,452 | Electronic Arts, Inc. (a) | 153 | ||||||
3,766 | Ellie Mae, Inc. (a) | 337 | ||||||
4,950 | Fair Isaac Corp. | 758 | ||||||
7,838 | Guidewire Software, Inc. (a) | 582 | ||||||
8,737 | HubSpot, Inc. (a) | 772 | ||||||
11,970 | Materialise N.V., ADR (a) | 152 | ||||||
30,567 | Nuance Communications, Inc. (a) | 500 | ||||||
3,572 | Paycom Software, Inc. (a) | 287 | ||||||
4,825 | Proofpoint, Inc. (a) | 429 | ||||||
11,822 | PTC, Inc. (a) | 718 | ||||||
4,252 | Rapid7, Inc. (a) | 79 | ||||||
8,516 | RingCentral, Inc., Class – A (a) | 412 | ||||||
1,080 | Silver Spring Networks, Inc. (a) | 18 | ||||||
60,982 | TiVo Corp. | 951 | ||||||
3,939 | Tyler Technologies, Inc. (a) | 697 | ||||||
|
| |||||||
8,119 | ||||||||
|
| |||||||
Specialty Retail — 1.04% | ||||||||
368 | Ascena Retail Group, Inc. (a) | 1 | ||||||
317 | Big 5 Sporting Goods Corp.^ | 2 | ||||||
196 | Express, Inc. (a) | 2 | ||||||
99 | GameStop Corp., Class – A | 2 | ||||||
51 | Group 1 Automotive, Inc. | 4 | ||||||
6,464 | MarineMax, Inc. (a) | 122 | ||||||
11,808 | Monro Muffler Brake, Inc. | 672 |
Shares | Security Description | Value (000) | ||||||
Specialty Retail (continued) | ||||||||
81 | Penske Automotive Group, Inc. | $ | 4 | |||||
213 | Rent-A-Center, Inc. | 2 | ||||||
152 | Sonic Automotive, Inc., Class – A | 3 | ||||||
347 | Stein Mart, Inc.^ | — | ||||||
19,447 | Tailored Brands, Inc. | 425 | ||||||
2,914 | The Children’s Place Retail Stores, Inc. | 424 | ||||||
623 | Tilly’s, Inc., Class – A | 9 | ||||||
|
| |||||||
1,672 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 0.26% | ||||||||
13,496 | Diebold, Inc. | 220 | ||||||
12,410 | Pure Storage, Inc., Class – A (a) | 197 | ||||||
|
| |||||||
417 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 1.16% | ||||||||
9,407 | Columbia Sportswear Co. | 676 | ||||||
7,575 | G-III Apparel Group Ltd. (a) | 279 | ||||||
140 | Movado Group, Inc. | 5 | ||||||
2,384 | Oxford Industries, Inc. | 179 | ||||||
23,191 | Wolverine World Wide, Inc. | 740 | ||||||
|
| |||||||
1,879 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.05% | ||||||||
84 | Federal Agricultural Mortgage Corp., Class – C | 7 | ||||||
68 | First Defiance Financial Corp. | 4 | ||||||
129 | HomeStreet, Inc. (a) | 4 | ||||||
495 | MGIC Investment Corp. (a) | 6 | ||||||
203 | PennyMac Financial Services, Inc. (a) | 5 | ||||||
222 | Radian Group, Inc. | 5 | ||||||
405 | TrustCo Bank Corp. NY | 4 | ||||||
130 | Walker & Dunlop, Inc. (a) | 6 | ||||||
897 | WSFS Financial Corp. | 42 | ||||||
|
| |||||||
83 | ||||||||
|
| |||||||
Tobacco — 0.15% | ||||||||
4,602 | Universal Corp. | 242 | ||||||
|
| |||||||
Trading Companies & Distributors — 1.39% | ||||||||
170 | Air Lease Corp. | 8 | ||||||
171 | Aircastle Ltd. | 4 | ||||||
11,867 | Beacon Roofing Supply, Inc. (a) | 757 | ||||||
17,597 | BMC Stock Holdings, Inc. (a) | 445 | ||||||
7,166 | DXP Enterprises, Inc. (a) | 212 | ||||||
106 | GATX Corp. | 7 | ||||||
11,988 | MRC Global, Inc. (a) | 203 | ||||||
2,326 | SiteOne Landscape Supply, Inc. (a) | 178 | ||||||
103 | Veritiv Corp. (a) | 3 | ||||||
2,525 | Watsco, Inc. | 429 | ||||||
77 | WESCO International, Inc. (a) | 5 | ||||||
|
| |||||||
2,251 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.41% | ||||||||
10,418 | Macquarie Infrastructure Corp. | 669 | ||||||
|
| |||||||
Wireless Telecommunication Services — 0.22% | ||||||||
15,861 | Boingo Wireless, Inc. (a) | 356 | ||||||
99 | Spok Holdings, Inc. | 2 | ||||||
|
| |||||||
358 | ||||||||
|
| |||||||
Total Common Stocks | 143,546 | |||||||
|
|
See accompanying notes to financial statements.
54
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Contingent Right — 0.00% | ||||||||
Biotechnology — 0.00% | ||||||||
700 | Clinical Data, Inc.* (a)(b) | $ | — | |||||
|
| |||||||
Total Contingent Right | — | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Time Deposit — 2.64% | ||||||||
$ | 4,265 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.39%, 1/2/18 | 4,265 | |||||
|
| |||||||
Total Time Deposit | 4,265 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 9.21% | ||||||||
437,004 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (c) | 437 | ||||||
176,509 | State Street Institutional Liquid Reserves Fund, 1.04% (c) | 177 | ||||||
14,247,150 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (c) | 14,247 | ||||||
|
| |||||||
Total Mutual Funds | 14,861 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.25% | ||||||||
$ | 407 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $406,667 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $414,731)^^ | 407 | |||||
|
| |||||||
Total Repurchase Agreement | 407 | |||||||
|
| |||||||
Total Investments | 163,079 | |||||||
Liabilities in excess of | (1,672 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 161,407 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2017 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $807 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | Rights entitle the Portfolio to cash based on the company’s achievement of milestones in connection with a pharmaceutical drug that was brought to market. |
(c) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
55
Table of Contents
HC CAPITAL TRUST
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Institutional Small | Advisory Research, Inc. | Frontier Capital Management Company, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | Pzena Investment Management, LLC | RMB Capital Management, LLC | HC Capital Solutions | Total | ||||||||||||||||||||||||
Common Stocks | 14.32 | % | 33.82 | % | 0.83 | % | — | 5.18 | % | 34.79 | % | — | 88.94 | % | ||||||||||||||||||
Contingent Right | 0.00 | % | — | — | — | — | — | — | 0.00 | % | ||||||||||||||||||||||
Time Deposit | — | 0.79 | % | — | — | 0.19 | % | 1.66 | % | — | 2.64 | % | ||||||||||||||||||||
Mutual Funds | 0.11 | % | 0.20 | % | 0.04 | % | 6.36 | % | — | 0.06 | % | 2.44 | % | 9.21 | % | |||||||||||||||||
Repurchase Agreement | — | 0.18 | % | 0.00 | % | — | — | 0.07 | % | — | 0.25 | % | ||||||||||||||||||||
Other Assets (Liabilities) | -0.08 | % | -0.41 | % | -0.01 | % | -0.54 | % | 0.00 | % | 0.00 | % | 0.00 | % | -1.04 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
Total Net Assets | 14.35 | % | 34.58 | % | 0.86 | % | 5.82 | % | 5.37 | % | 36.58 | % | 2.44 | % | 100.00 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Russell 2000 Mini Index Future | 123 | 3/16/18 | $ | 9,428 | $ | 9,450 | $ | 22 | ||||||||||
|
|
|
|
|
| |||||||||||||
$ | 9,428 | $ | 9,450 | $ | 22 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation |
| $ | 22 | |||||||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 22 | |||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
56
Table of Contents
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 86.51% | ||||||||
Equity Real Estate Investment Trusts — 78.95% | ||||||||
20,732 | Acadia Realty Trust | $ | 567 | |||||
15,790 | Agree Realty Corp. | 812 | ||||||
42,361 | Alexandria Real Estate Equities, Inc. | 5,532 | ||||||
30,944 | American Tower Corp. | 4,415 | ||||||
76,275 | Apartment Investment & Management Co., Class – A | 3,334 | ||||||
36,593 | AvalonBay Communities, Inc. | 6,528 | ||||||
35,780 | Boston Properties, Inc. | 4,652 | ||||||
91,162 | Brandywine Realty Trust | 1,658 | ||||||
18,954 | Coresite Realty Corp. | 2,159 | ||||||
90,527 | Corporate Office Properties Trust | 2,643 | ||||||
82,849 | Douglas Emmett, Inc. | 3,402 | ||||||
80,498 | Empire State Realty Trust, Inc., Class – A | 1,653 | ||||||
7,120 | Equinix, Inc. | 3,227 | ||||||
30,844 | Equity Lifestyle Properties, Inc. | 2,746 | ||||||
11,906 | Essex Property Trust, Inc. | 2,874 | ||||||
34,064 | Extra Space Storage, Inc. | 2,979 | ||||||
97,953 | GGP, Inc. | 2,291 | ||||||
151,981 | HCP, Inc. | 3,964 | ||||||
45,141 | Healthcare Trust of America, Inc., Class – A | 1,356 | ||||||
140,158 | Invitation Homes, Inc. | 3,304 | ||||||
31,864 | JBG Smith Properties | 1,107 | ||||||
56,067 | LaSalle Hotel Properties | 1,574 | ||||||
28,783 | MGM Growth Properties LLC, Class – A | 839 | ||||||
94,755 | Prologis, Inc. | 6,113 | ||||||
12,040 | PS Business Parks, Inc. | 1,506 | ||||||
28,543 | Public Storage | 5,965 | ||||||
67,460 | Regency Centers Corp. | 4,667 | ||||||
108,016 | Rexford Industrial Realty, Inc. | 3,150 | ||||||
52,222 | Simon Property Group, Inc. | 8,968 | ||||||
25,913 | Sun Communities, Inc. | 2,404 | ||||||
12,993 | Taubman Centers, Inc. | 850 | ||||||
13,556 | The Macerich Co. | 890 | ||||||
14,180 | Universal Health Realty Income Trust | 1,065 | ||||||
|
| |||||||
99,194 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Health Care Providers & Services — 0.73% | ||||||||
95,129 | Brookdale Senior Living, Inc. (a) | $ | 923 | |||||
|
| |||||||
Hotels, Restaurants & Leisure — 6.01% | ||||||||
65,956 | Extended Stay America, Inc. | 1,253 | ||||||
35,452 | Hilton Worldwide Holdings, Inc. | 2,831 | ||||||
19,957 | Hyatt Hotels Corp., Class – A (a) | 1,468 | ||||||
9,416 | Vail Resorts, Inc. | 2,001 | ||||||
|
| |||||||
7,553 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.82% | ||||||||
59,042 | Kennedy-Wilson Holdings, Inc. | 1,024 | ||||||
|
| |||||||
Total Common Stocks | 108,694 | |||||||
|
| |||||||
Mutual Funds — 14.00% | ||||||||
1,020,966 | DWS Government Cash Money Market Fund, 1.20% (b) | 1,021 | ||||||
16,568,333 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (b) | 16,568 | ||||||
|
| |||||||
Total Mutual Funds | 17,589 | |||||||
|
| |||||||
Total Investments | 126,283 | |||||||
Liabilities in excess of | (644 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 125,639 | ||||||
|
|
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2017. |
See accompanying notes to financial statements.
57
Table of Contents
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Real Estate Securities Portfolio | Parametric Portfolio Associates, LLC | Wellington Management Company, LLP | HC Capital Solutions | Total | ||||||||||||
Common Stocks | — | 86.51 | % | — | 86.51 | % | ||||||||||
Mutual Funds | 7.65 | % | 0.81 | % | 5.54 | % | 14.00 | % | ||||||||
Other Assets (Liabilities) | -0.68 | % | 0.16 | % | 0.01 | % | -0.51 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 6.97 | % | 87.48 | % | 5.55 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Dow Jones U.S. Real Estate Index Future | 286 | 3/16/18 | $ | 9,178 | $ | 9,192 | $ | 14 | ||||||||||
|
|
|
|
|
| |||||||||||||
$ | 9,178 | $ | 9,192 | $ | 14 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation |
| $ | 14 | |||||||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 14 | |||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
58
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 80.25% | ||||||||
Australia — 3.21% | ||||||||
274,615 | Alumina Ltd. (Metals & Mining) | $ | 517 | |||||
121,932 | Amcor Ltd. (Containers & Packaging) | 1,461 | ||||||
328,995 | BHP Billiton Ltd. (Metals & Mining) | 7,556 | ||||||
141,644 | BlueScope Steel Ltd. (Metals & Mining) | 1,687 | ||||||
120,998 | Boral Ltd. (Construction Materials) | 732 | ||||||
29,130 | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | 772 | ||||||
474,054 | Fortescue Metals Group Ltd. (Metals & Mining) | 1,794 | ||||||
189,276 | Incitec Pivot Ltd. (Chemicals) | 573 | ||||||
191,018 | Newcrest Mining Ltd. (Metals & Mining) | 3,400 | ||||||
42,062 | Orica Ltd. (Chemicals) | 592 | ||||||
191,182 | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) (a) | 1,400 | ||||||
44,660 | Rio Tinto Ltd. (Metals & Mining) | 2,625 | ||||||
178,448 | Santos Ltd. (Oil, Gas & Consumable Fuels) (a) | 755 | ||||||
583,052 | South32 Ltd. (Metals & Mining) | 1,580 | ||||||
287,878 | Western Areas Ltd. (Metals & Mining) | 723 | ||||||
79,473 | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | 2,044 | ||||||
|
| |||||||
28,211 | ||||||||
|
| |||||||
Austria — 0.21% | ||||||||
16,449 | OMV AG (Oil, Gas & Consumable Fuels) | 1,042 | ||||||
12,757 | Voestalpine AG (Metals & Mining) | 762 | ||||||
|
| |||||||
1,804 | ||||||||
|
| |||||||
Belgium — 0.24% | ||||||||
8,116 | Solvay SA (Chemicals) | 1,129 | ||||||
21,360 | Umicore SA | 1,011 | ||||||
|
| |||||||
2,140 | ||||||||
|
| |||||||
Bermuda — 0.08% | ||||||||
360,000 | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) | 375 | ||||||
183,000 | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | 292 | ||||||
|
| |||||||
667 | ||||||||
|
| |||||||
Brazil — 1.13% | ||||||||
70,000 | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) (a) | 177 | ||||||
13,613 | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | 170 | ||||||
20,577 | Duratex SA (Paper & Forest Products) | 57 | ||||||
28,000 | Fibria Celulose SA (Paper & Forest Products) | 404 | ||||||
312,012 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) (a) | 1,591 | ||||||
45,300 | Suzano Papel e Celulose SA (Paper & Forest Products) | 255 | ||||||
40,403 | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | 914 | ||||||
197,978 | Vale SA, ADR (Metals & Mining) | 2,421 | ||||||
324,876 | Vale SA (Metals & Mining) | 3,945 | ||||||
|
| |||||||
9,934 | ||||||||
|
| |||||||
Canada — 8.14% | ||||||||
62,576 | Agnico-Eagle Mines Ltd. (Metals & Mining) | 2,890 | ||||||
13,787 | Agrium, Inc. (Chemicals) | 1,586 | ||||||
18,300 | AltaGas Ltd. (Oil, Gas & Consumable Fuels)^ | 417 | ||||||
39,300 | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | 461 |
Shares | Security Description | Value (000) | ||||||
Canada (continued) | ||||||||
146,330 | Barrick Gold Corp., ADR (Metals & Mining) | $ | 2,117 | |||||
172,333 | Barrick Gold Corp. (Metals & Mining) | 2,493 | ||||||
44,200 | Cameco Corp. (Oil, Gas & Consumable Fuels)^ | 408 | ||||||
176,239 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | 6,299 | ||||||
15,500 | CCL Industries, Inc., Class B (Containers & Packaging) | 716 | ||||||
90,914 | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 830 | ||||||
60,400 | Crescent Point Energy Corp. (Oil, Gas & Consumable Fuels) | 460 | ||||||
80,404 | Eldorado Gold Corp. (Metals & Mining) | 116 | ||||||
93,311 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 3,650 | ||||||
72,203 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 2,824 | ||||||
214,203 | Encana Corp. (Oil, Gas & Consumable Fuels) | 2,858 | ||||||
193,163 | First Quantum Minerals Ltd. (Metals & Mining) | 2,707 | ||||||
18,640 | Franco-Nevada Corp. (Metals & Mining) | 1,490 | ||||||
89,800 | Goldcorp, Inc. (Metals & Mining) | 1,145 | ||||||
39,275 | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | 555 | ||||||
32,360 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 1,010 | ||||||
40,100 | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | 831 | ||||||
6,970 | International Petroleum Corp. (Oil, Gas & Consumable Fuels) (a) | 30 | ||||||
115,564 | Ivanhoe Mines Ltd. (Metals & Mining) (a) | 390 | ||||||
20,500 | Keyera Corp. (Oil, Gas & Consumable Fuels) | 578 | ||||||
625,401 | Kinross Gold Corp. (Metals & Mining) (a) | 2,697 | ||||||
358,353 | Lucara Diamond Corp. (Metals & Mining) | 801 | ||||||
10,100 | Methanex Corp. (Chemicals) | 612 | ||||||
50,871 | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels) | 1,842 | ||||||
18,400 | Peyto Exploration & Development Corp. (Oil, Gas & Consumable Fuels)^ | 220 | ||||||
88,346 | Potash Corporation of Saskatchewan, Inc. (Chemicals) | 1,812 | ||||||
23,000 | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels) | 587 | ||||||
26,900 | Seven Generations Energy (Oil, Gas & Consumable Fuels) (a) | 381 | ||||||
348,435 | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | 12,794 | ||||||
59,697 | Teck Cominco Ltd., Class B (Metals & Mining) | 1,561 | ||||||
23,600 | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) (a) | 428 | ||||||
158,215 | TransCanada Corp. (Oil, Gas & Consumable Fuels) | 7,701 | ||||||
112,906 | Turquoise Hill Resources Ltd. (Metals & Mining) (a) | 385 | ||||||
137,748 | Uranium Participation Corp. (Capital Markets) (a)(b) | 464 | ||||||
13,000 | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels)^ | 473 | ||||||
7,400 | West Fraser Timber Co. Ltd. (Paper & Forest Products) | 457 | ||||||
48,151 | Wheaton Precious Metals Corp. (Metals & Mining) | 1,065 | ||||||
106,300 | Yamana Gold, Inc. (Metals & Mining) | 332 | ||||||
|
| |||||||
71,473 | ||||||||
|
|
See accompanying notes to financial statements.
59
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Chile — 0.15% | ||||||||
140,232 | Empresas CMPC SA (Paper & Forest Products) | $ | 477 | |||||
50,814 | Empresas Copec SA (Oil, Gas & Consumable Fuels) | 803 | ||||||
|
| |||||||
1,280 | ||||||||
|
| |||||||
China — 1.30% | ||||||||
442,000 | Aluminum Corp. of China Ltd., H Shares (Metals & Mining) (a) | 315 | ||||||
138,700 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 651 | ||||||
229,000 | China Coal Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels)^ | 103 | ||||||
324,000 | China National Building Material Co. Ltd., H Shares (Construction Materials)^ | 289 | ||||||
203,000 | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | 197 | ||||||
2,673,869 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 1,958 | ||||||
379,800 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 981 | ||||||
3,078,340 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 4,419 | ||||||
140,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 222 | ||||||
2,212,729 | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | 1,539 | ||||||
392,000 | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Chemicals) | 223 | ||||||
208,000 | Yanzhou Coal Mining Co., H Shares (Oil, Gas & Consumable Fuels) | 243 | ||||||
643,000 | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | 243 | ||||||
|
| |||||||
11,383 | ||||||||
|
| |||||||
Colombia — 0.10% | ||||||||
51,680 | Cementos Argos SA (Construction Materials) | 200 | ||||||
551,082 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 408 | ||||||
32,582 | Grupo Argos SA (Construction Materials) | 228 | ||||||
|
| |||||||
836 | ||||||||
|
| |||||||
Curaçao — 1.29% | ||||||||
168,521 | Schlumberger Ltd. (Energy Equipment & Services) | 11,357 | ||||||
|
| |||||||
Denmark — 0.28% | ||||||||
11,094 | Christian Hansen Holding A/S (Chemicals) | 1,041 | ||||||
25,258 | Novozymes A/S, B Shares (Chemicals) | 1,442 | ||||||
|
| |||||||
2,483 | ||||||||
|
| |||||||
Finland — 0.41% | ||||||||
14,319 | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | 916 | ||||||
61,803 | Stora Enso Oyj, R Shares (Paper & Forest Products) | 979 | ||||||
56,193 | UPM-Kymmene Oyj (Paper & Forest Products) | 1,745 | ||||||
|
| |||||||
3,640 | ||||||||
|
| |||||||
France — 2.87% | ||||||||
43,809 | Air Liquide SA (Chemicals) | 5,507 | ||||||
7,620 | Arkema SA (Chemicals) | 928 | ||||||
4,017 | Imerys SA (Construction Materials) | 378 | ||||||
332,606 | Total SA (Oil, Gas & Consumable Fuels)^ | 18,358 | ||||||
|
| |||||||
25,171 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Germany — 2.43% | ||||||||
94,086 | BASF SE (Chemicals) | $ | 10,313 | |||||
7,951 | Covestro AG (Chemicals) | 819 | ||||||
18,297 | Evonik Industries AG (Chemicals) | 687 | ||||||
15,668 | HeidelbergCement AG (Construction Materials) | 1,689 | ||||||
21,472 | K+S AG – Registered (Chemicals) | 533 | ||||||
10,268 | Lanxess AG (Chemicals) | 814 | ||||||
19,026 | Linde AG (Chemicals) | 4,123 | ||||||
13,835 | Symrise AG (Chemicals) | 1,186 | ||||||
40,287 | ThyssenKrupp AG (Metals & Mining) | 1,162 | ||||||
|
| |||||||
21,326 | ||||||||
|
| |||||||
Greece — 0.01% | ||||||||
3,504 | Titan Cement Co. SA (Construction Materials) | 96 | ||||||
|
| |||||||
Hungary — 0.04% | ||||||||
32,032 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 372 | ||||||
|
| |||||||
India — 0.69% | ||||||||
135,608 | Reliance Industries Ltd., GDR (Oil, Gas & Consumable Fuels) (c) | 3,850 | ||||||
34,160 | Tata Steel Ltd., Registered Shares, GDR (Metals & Mining) | 389 | ||||||
88,787 | Vedanta Ltd., ADR (Metals & Mining) | 1,850 | ||||||
|
| |||||||
6,089 | ||||||||
|
| |||||||
Indonesia — 0.14% | ||||||||
1,607,600 | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | 220 | ||||||
165,200 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 267 | ||||||
332,700 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 243 | ||||||
187,500 | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | 489 | ||||||
|
| |||||||
1,219 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.36% | ||||||||
87,357 | CRH PLC (Construction Materials) | 3,144 | ||||||
|
| |||||||
Israel — 0.07% | ||||||||
4,298 | Frutarom Industries Ltd. (Chemicals) | 404 | ||||||
57,266 | Israel Chemicals Ltd. (Chemicals) | 232 | ||||||
|
| |||||||
636 | ||||||||
|
| |||||||
Italy — 0.96% | ||||||||
413,267 | Eni SpA (Oil, Gas & Consumable Fuels) | 6,838 | ||||||
67,749 | Saipem SpA (Energy Equipment & Services) (a) | 309 | ||||||
267,187 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 1,308 | ||||||
|
| |||||||
8,455 | ||||||||
|
| |||||||
Japan — 3.61% | ||||||||
16,700 | Air Water, Inc. (Chemicals) | 352 | ||||||
134,000 | Asahi Kasei Corp. (Chemicals) | 1,725 | ||||||
31,400 | Daicel Corp. (Chemicals) | 356 | ||||||
11,700 | Hitachi Chemical Co. Ltd. (Chemicals) | 300 | ||||||
24,100 | Hitachi Metals Ltd. (Metals & Mining) | 345 | ||||||
9,800 | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | 393 | ||||||
103,700 | INPEX Corp. (Oil, Gas & Consumable Fuels) | 1,291 |
See accompanying notes to financial statements.
60
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan — (continued) | ||||||||
57,200 | JFE Holdings, Inc. (Metals & Mining) | $ | 1,367 | |||||
21,600 | JSR Corp. (Chemicals) | 424 | ||||||
315,494 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 2,027 | ||||||
31,000 | Kaneka Corp. (Chemicals) | 283 | ||||||
24,500 | Kansai Paint Co. Ltd. (Chemicals) | 636 | ||||||
34,700 | Kobe Steel Ltd. (Metals & Mining) | 320 | ||||||
39,800 | Kuraray Co. Ltd. (Chemicals) | 749 | ||||||
6,300 | Maruichi Steel Tube Ltd. (Metals & Mining) | 184 | ||||||
148,500 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 1,625 | ||||||
20,300 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 581 | ||||||
12,500 | Mitsubishi Materials Corp. (Metals & Mining) | 444 | ||||||
20,600 | Mitsui Chemicals, Inc. (Chemicals) | 661 | ||||||
18,300 | Nippon Paint Holdings Co. Ltd. (Chemicals)^ | 578 | ||||||
178,400 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 4,559 | ||||||
13,800 | Nissan Chemical Industries Ltd. (Chemicals) | 550 | ||||||
17,400 | Nitto Denko Corp. (Chemicals) | 1,539 | ||||||
91,000 | Oji Paper Co. Ltd. (Paper & Forest Products) | 604 | ||||||
39,915 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 4,045 | ||||||
21,000 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 284 | ||||||
176,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | 1,260 | ||||||
27,500 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 1,258 | ||||||
13,600 | Taiheiyo Cement Corp. (Construction Materials) | 586 | ||||||
11,500 | Taiyo Nippon Sanso Corp. (Chemicals) | 160 | ||||||
21,000 | Teijin Ltd. (Chemicals) | 467 | ||||||
155,000 | Toray Industries, Inc. (Chemicals) | 1,459 | ||||||
18,300 | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | 294 | ||||||
|
| |||||||
31,706 | ||||||||
|
| |||||||
Jersey — 1.59% | ||||||||
2,421,817 | Glencore International PLC (Metals & Mining) | 12,674 | ||||||
28,976 | Petrofac Ltd. (Energy Equipment & Services) | 199 | ||||||
10,511 | Randgold Resources Ltd. (Metals & Mining) | 1,043 | ||||||
|
| |||||||
13,916 | ||||||||
|
| |||||||
Luxembourg — 0.91% | ||||||||
21,080 | Aperam (Metals & Mining) | 1,083 | ||||||
157,293 | ArcelorMittal (Metals & Mining) (a) | 5,102 | ||||||
114,190 | Tenaris SA (Energy Equipment & Services) | 1,812 | ||||||
|
| |||||||
7,997 | ||||||||
|
| |||||||
Malaysia — 0.09% | ||||||||
31,600 | Lafarge Malayan Cement Berhad (Construction Materials) (a) | 48 | ||||||
269,200 | Petronas Chemicals Group Berhad (Chemicals) | 513 | ||||||
22,200 | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | 133 | ||||||
544,300 | SapuraKencana Petroleum Berhad (Energy Equipment & Services) | 95 | ||||||
|
| |||||||
789 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Mexico — 0.35% | ||||||||
1,535,741 | CEMEX SAB de CV (Construction Materials) (a) | $ | 1,149 | |||||
401,534 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 1,326 | ||||||
15,609 | Industrias Penoles SAB de CV (Metals & Mining) | 326 | ||||||
119,820 | Mexichem SAB de CV (Chemicals) | 297 | ||||||
|
| |||||||
3,098 | ||||||||
|
| |||||||
Netherlands — 1.03% | ||||||||
26,070 | Akzo Nobel N.V. (Chemicals) | 2,287 | ||||||
4,889 | Core Laboratories N.V. (Energy Equipment & Services) | 536 | ||||||
19,869 | Koninklijke DSM N.V. (Chemicals) | 1,898 | ||||||
7,853 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 344 | ||||||
36,228 | LyondellBasell Industries N.V., Class – A (Chemicals) | 3,996 | ||||||
|
| |||||||
9,061 | ||||||||
|
| |||||||
New Zealand — 0.05% | ||||||||
77,688 | Fletcher Building Ltd. (Construction Materials) | 418 | ||||||
|
| |||||||
Norway — 0.70% | ||||||||
361,068 | Norsk Hydro ASA (Metals & Mining) | 2,738 | ||||||
117,651 | Statoil ASA (Oil, Gas & Consumable Fuels) | 2,520 | ||||||
19,923 | Yara International ASA (Chemicals) | 915 | ||||||
|
| |||||||
6,173 | ||||||||
|
| |||||||
Papua New Guinea — 0.11% | ||||||||
153,063 | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | 927 | ||||||
|
| |||||||
Peru — 0.03% | ||||||||
21,300 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 300 | ||||||
|
| |||||||
Poland — 0.28% | ||||||||
3,383 | Grupa Azoty SA (Chemicals) | 68 | ||||||
15,267 | Grupa Lotos SA (Oil, Gas & Consumable Fuels) | 253 | ||||||
5,927 | Jastrzebska Spolka Weglowa SA (Metals & Mining) (a) | 164 | ||||||
15,706 | KGHM Polska Miedz SA (Metals & Mining) | 500 | ||||||
35,828 | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | 1,089 | ||||||
197,692 | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | 357 | ||||||
43,774 | Synthos SA (Chemicals) | 61 | ||||||
|
| |||||||
2,492 | ||||||||
|
| |||||||
Portugal — 0.45% | ||||||||
214,525 | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) | 3,941 | ||||||
|
| |||||||
Qatar — 0.02% | ||||||||
30,321 | Qatar Gas Transport Co. Ltd. (Oil, Gas & Consumable Fuels) | 134 | ||||||
|
| |||||||
Russia — 1.75% | ||||||||
289,200 | ALROSA AO (Metals & Mining) | 376 | ||||||
617,087 | Gazprom OAO – Sponsored ADR (Oil, Gas & Consumable Fuels) | 2,713 | ||||||
78,609 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | 4,478 | ||||||
121,418 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | 2,296 |
See accompanying notes to financial statements.
61
Table of Contents
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The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia (continued) | ||||||||
8,876 | Novatek OAO, GDR (Oil, Gas & Consumable Fuels) | $ | 1,067 | |||||
9,932 | Novatek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 1,194 | ||||||
10,897 | Phosagro OAO, GDR (Chemicals) | 167 | ||||||
132,013 | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 657 | ||||||
23,380 | Severstal, Registered Shares, GDR (Metals & Mining) | 358 | ||||||
161,639 | Surgutneftegas, ADR (Oil, Gas & Consumable Fuels) | 761 | ||||||
25,684 | Tatneft PJSC, ADR (Oil, Gas & Consumable Fuels) | 1,265 | ||||||
|
| |||||||
15,332 | ||||||||
|
| |||||||
South Africa — 0.51% | ||||||||
6,051 | Anglo Platinum Ltd. (Metals & Mining) (a) | 173 | ||||||
45,789 | AngloGold Ashanti Ltd. (Metals & Mining) | 480 | ||||||
23,659 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 312 | ||||||
92,164 | Gold Fields Ltd. (Metals & Mining) | 401 | ||||||
70,067 | Impala Platinum Holdings Ltd. (Metals & Mining) (a) | 184 | ||||||
13,273 | Mondi Ltd. (Paper & Forest Products) | 344 | ||||||
60,742 | Sappi Ltd. (Paper & Forest Products) | 441 | ||||||
58,293 | Sasol Ltd. (Chemicals) | 2,022 | ||||||
82,919 | Sibanye Gold Ltd. (Metals & Mining) | 106 | ||||||
|
| |||||||
4,463 | ||||||||
|
| |||||||
South Korea — 1.15% | ||||||||
5,708 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 331 | ||||||
12,018 | Hanwha Chemical Corp. (Chemicals) | 355 | ||||||
1,730 | Honam Petrochemical Corp. (Chemicals) | 594 | ||||||
2,364 | Hyosung Corp. (Chemicals) | 308 | ||||||
8,982 | Hyundai Steel Co. (Metals & Mining) | 492 | ||||||
3,365 | Korea Zinc Co. (Metals & Mining) | 1,550 | ||||||
2,051 | Kumho Petro Chemical Co. Ltd. (Chemicals) | 190 | ||||||
5,080 | LG Chem Ltd. (Chemicals) | 1,922 | ||||||
1,265 | OCI Co. Ltd. (Chemicals) | 161 | ||||||
7,344 | POSCO (Metals & Mining) | 2,285 | ||||||
7,057 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 1,347 | ||||||
5,030 | S-Oil Corp. (Oil, Gas & Consumable Fuels) | 549 | ||||||
|
| |||||||
10,084 | ||||||||
|
| |||||||
Spain — 0.23% | ||||||||
115,220 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 2,034 | ||||||
|
| |||||||
Sweden — 0.53% | ||||||||
30,684 | Boliden AB (Metals & Mining) | 1,050 | ||||||
158,928 | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) (a) | 3,639 | ||||||
|
| |||||||
4,689 | ||||||||
|
| |||||||
Switzerland — 1.40% | ||||||||
918 | EMS-Chemie Holding AG – Registered (Chemicals) | 613 | ||||||
972 | Givaudan SA (Chemicals) | 2,246 | ||||||
47,923 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 2,700 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
235 | Sika AG (Chemicals) | $ | 1,865 | |||||
9,484 | Syngenta AG, Registered Shares (Chemicals) | 4,398 | ||||||
104,200 | Weatherford International PLC (Energy Equipment & Services) (a) | 435 | ||||||
|
| |||||||
12,257 | ||||||||
|
| |||||||
Taiwan — 0.72% | ||||||||
264,082 | Asia Cement Corp. (Construction Materials) | 250 | ||||||
1,293,376 | China Steel Corp. (Metals & Mining) | 1,075 | ||||||
353,000 | Formosa Chemicals & Fibre Corp. (Chemicals) | 1,218 | ||||||
128,000 | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | 495 | ||||||
435,160 | Formosa Plastics Corp. (Chemicals) | 1,441 | ||||||
501,010 | Nan Ya Plastics Corp. (Chemicals) | 1,310 | ||||||
373,000 | Taiwan Cement Corp. (Construction Materials) | 456 | ||||||
67,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 86 | ||||||
|
| |||||||
6,331 | ||||||||
|
| |||||||
Thailand — 0.52% | ||||||||
139,000 | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | 83 | ||||||
125,000 | Energy Absolute Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 201 | ||||||
94,900 | Indorama Ventures PCL (Chemicals) | 155 | ||||||
1,622,100 | IRPC PCL – Foreign (Oil, Gas & Consumable Fuels) | 351 | ||||||
251,055 | PTT Chemical Public Co. Ltd. (Chemicals) | 654 | ||||||
178,504 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 547 | ||||||
115,500 | PTT PCL (Oil, Gas & Consumable Fuels) | 1,558 | ||||||
45,800 | Siam Cement PCL (Construction Materials) | 688 | ||||||
91,500 | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 291 | ||||||
|
| |||||||
4,528 | ||||||||
|
| |||||||
Turkey — 0.11% | ||||||||
157,059 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 415 | ||||||
49,620 | Petkim Petrokimya Holding A/S (Chemicals) | 102 | ||||||
13,985 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 448 | ||||||
|
| |||||||
965 | ||||||||
|
| |||||||
United Kingdom — 11.43% | ||||||||
333,803 | Anglo American PLC (Metals & Mining) | 6,941 | ||||||
44,239 | Antofagasta PLC (Metals & Mining) | 597 | ||||||
725,647 | BHP Billiton PLC (Metals & Mining) | 14,670 | ||||||
2,662,695 | BP PLC (Oil, Gas & Consumable Fuels) | 18,676 | ||||||
14,724 | Croda International PLC (Chemicals) | 878 | ||||||
24,801 | Fresnillo PLC (Metals & Mining) | 476 | ||||||
21,712 | Johnson Matthey PLC (Chemicals) | 899 | ||||||
70,980 | Kazakhmys PLC (Metals & Mining) (a) | 853 | ||||||
41,199 | Mondi PLC (Paper & Forest Products) | 1,071 | ||||||
287,057 | Rio Tinto PLC (Metals & Mining) | 15,056 | ||||||
773,500 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 25,816 | ||||||
381,983 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 12,860 |
See accompanying notes to financial statements.
62
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
24,010 | TechnipFMC PLC (Energy Equipment & Services) | $ | 745 | |||||
24,600 | TechnipFMC PLC (Energy Equipment & Services) | 770 | ||||||
|
| |||||||
100,308 | ||||||||
|
| |||||||
United States — 28.57% | ||||||||
21,660 | Air Products & Chemicals, Inc. (Chemicals) | 3,554 | ||||||
12,278 | Albemarle Corp. (Chemicals) | 1,570 | ||||||
34,835 | Alcoa Corp. (Metals & Mining) (a) | 1,877 | ||||||
56,400 | Anadarko Petroleum Corp. (Oil, Gas & Consumable Fuels) | 3,025 | ||||||
29,518 | Andeavor (Oil, Gas & Consumable Fuels) | 3,375 | ||||||
17,200 | Antero Resources Corp. (Oil, Gas & Consumable Fuels) (a) | 327 | ||||||
39,800 | Apache Corp. (Oil, Gas & Consumable Fuels) | 1,680 | ||||||
7,000 | Ashland Global Holdings, Inc. (Chemicals) | 498 | ||||||
10,000 | Avery Dennison Corp. (Containers & Packaging) | 1,149 | ||||||
24,100 | Axalta Coating Systems Ltd. (Chemicals) (a) | 780 | ||||||
70,473 | Baker Hughes, Inc. (Energy Equipment & Services) | 2,230 | ||||||
34,962 | Ball Corp. (Containers & Packaging) | 1,323 | ||||||
105,343 | Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | 3,013 | ||||||
15,200 | Celanese Corp., Series A (Chemicals) | 1,628 | ||||||
22,887 | Centennial Resources Development (Oil, Gas & Consumable Fuels) (a) | 453 | ||||||
25,525 | CF Industries Holdings, Inc. (Chemicals) | 1,086 | ||||||
21,560 | Cheniere Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | 1,161 | ||||||
185,064 | Chevron Corp. (Oil, Gas & Consumable Fuels) | 23,168 | ||||||
20,838 | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | 2,542 | ||||||
27,707 | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 4,162 | ||||||
126,371 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 6,937 | ||||||
10,438 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 553 | ||||||
15,700 | Crown Holdings, Inc. (Containers & Packaging) (a) | 883 | ||||||
89,552 | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | 3,707 | ||||||
33,089 | Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | 4,177 | ||||||
230,309 | DowDuPont, Inc. (Chemicals) | 16,402 | ||||||
15,556 | Eastman Chemical Co. (Chemicals) | 1,441 | ||||||
26,936 | Ecolab, Inc. (Chemicals) | 3,614 | ||||||
97,709 | EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | 10,544 | ||||||
34,657 | EQT Corp. (Oil, Gas & Consumable Fuels) | 1,973 | ||||||
290,761 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 24,318 | ||||||
14,962 | FMC Corp. (Chemicals) | 1,416 | ||||||
132,817 | Freeport-McMoRan Copper & Gold, Inc. (Metals & Mining) (a) | 2,517 | ||||||
155,542 | Halliburton Co. (Energy Equipment & Services) | 7,601 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
11,800 | Helmerich & Payne, Inc. (Energy Equipment & Services) | $ | 763 | |||||
53,441 | Hess Corp. (Oil, Gas & Consumable Fuels) | 2,537 | ||||||
18,772 | HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | 962 | ||||||
8,700 | International Flavors & Fragrances, Inc. (Chemicals) | 1,328 | ||||||
41,100 | International Paper Co. (Containers & Packaging) | 2,381 | ||||||
35,052 | Jagged Peak Energy, Inc. (a) | 554 | ||||||
330,237 | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 5,967 | ||||||
88,834 | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | 1,504 | ||||||
86,146 | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | 5,684 | ||||||
6,228 | Martin Marietta Materials, Inc. (Construction Materials) | 1,377 | ||||||
44,826 | Monsanto Co. (Chemicals) | 5,235 | ||||||
18,300 | Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | 568 | ||||||
39,558 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 1,425 | ||||||
23,553 | NCS Multistage Holdings, Inc. (a) | 347 | ||||||
81,855 | Newfield Exploration Co. (Oil, Gas & Consumable Fuels) (a) | 2,581 | ||||||
55,875 | Newmont Mining Corp. (Metals & Mining) | 2,096 | ||||||
118,418 | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | 3,451 | ||||||
33,500 | Nucor Corp. (Metals & Mining) | 2,130 | ||||||
162,295 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 11,955 | ||||||
53,383 | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 2,853 | ||||||
10,300 | Packaging Corporation of America (Containers & Packaging) | 1,242 | ||||||
17,100 | Parsley Energy, Inc., Class — A (Oil, Gas & Consumable Fuels) (a) | 503 | ||||||
82,028 | Phillips 66 (Oil, Gas & Consumable Fuels) | 8,297 | ||||||
19,590 | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | 3,386 | ||||||
50,908 | Plains GP Holdings LP, Class A (Oil, Gas & Consumable Fuels) | 1,117 | ||||||
28,122 | PPG Industries, Inc. (Chemicals) | 3,285 | ||||||
29,150 | Praxair, Inc. (Chemicals) | 4,509 | ||||||
23,229 | ProPetro Holding Corp. (a) | 468 | ||||||
20,729 | Range Resources Corp. (Oil, Gas & Consumable Fuels) | 354 | ||||||
15,474 | Reliance Steel & Aluminum Co. (Metals & Mining) | 1,328 | ||||||
19,070 | RSP Permian, Inc. (Oil, Gas & Consumable Fuels) (a) | 776 | ||||||
21,600 | Sealed Air Corp. (Containers & Packaging) | 1,065 | ||||||
30,279 | Southern Copper Corp. (Metals & Mining) | 1,437 | ||||||
52,631 | Steel Dynamics, Inc. (Metals & Mining) | 2,270 | ||||||
37,228 | Targa Resources Corp. (Oil, Gas & Consumable Fuels) | 1,803 | ||||||
36,418 | The Mosaic Co. (Chemicals) | 934 | ||||||
8,251 | The Sherwin-Williams Co. (Chemicals) | 3,383 | ||||||
74,700 | The Williams Companies, Inc. (Oil, Gas & Consumable Fuels) | 2,278 |
See accompanying notes to financial statements.
63
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
80,509 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | $ | 7,400 | |||||
19,217 | Valvoline, Inc. (Chemicals) | 482 | ||||||
13,900 | Vulcan Materials Co. (Construction Materials) | 1,784 | ||||||
7,900 | W.R. Grace & Co. (Chemicals) | 554 | ||||||
26,400 | WestRock Co. (Containers & Packaging) | 1,669 | ||||||
|
| |||||||
250,706 | ||||||||
|
| |||||||
Total Common Stocks | 704,365 | |||||||
|
| |||||||
Preferred Stocks — 0.62% | ||||||||
Brazil — 0.42% | ||||||||
17,400 | Braskem SA – Preferred, Class A (Chemicals) | 225 | ||||||
293,000 | Gerdau SA – Preferred (Metals & Mining) | 1,094 | ||||||
377,400 | Klabin SA – Preferred (Containers & Packaging) | 357 | ||||||
411,075 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) (a) | 1,996 | ||||||
|
| |||||||
3,672 | ||||||||
|
| |||||||
Chile — 0.07% | ||||||||
10,804 | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | 642 | ||||||
|
| |||||||
Germany — 0.05% | ||||||||
7,797 | Fuchs Petrolub AG – Preferred (Chemicals) | 413 | ||||||
|
| |||||||
Russia — 0.06% | ||||||||
174 | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) | 542 | ||||||
|
| |||||||
South Korea — 0.02% | ||||||||
578 | LG Chem Ltd. – Preferred (Chemicals) | 134 | ||||||
|
| |||||||
Total Preferred Stocks | 5,403 | |||||||
|
| |||||||
Right — 0.00% | ||||||||
France — 0.00% | ||||||||
– | Total SA (d) | — | ||||||
|
| |||||||
Total Right | — | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Commercial Paper — 0.05% | ||||||||
Canada — 0.05% | ||||||||
$ | 100 | Bank of Montreal, 0.95%, 1/15/18 (e) | 80 | |||||
100 | HSBC Bank, 1.62%, 1/8/18 (e) | 79 | ||||||
100 | Royal Bank of Canada, 1.62%, 1/8/18 (e) | 80 | ||||||
100 | Royal Bank of Canada, 1.80%, 1/5/18 (e) | 79 | ||||||
100 | Toronto-Dominion Bank, 1.62%, 1/8/18 (e) | 80 | ||||||
|
| |||||||
Total Commercial Paper | 398 | |||||||
|
| |||||||
Corporate Bonds — 3.23% | ||||||||
1,000 | Albemarle Corp., 5.45%, 12/1/44, | 1,179 | ||||||
| 2,000 | | Anadarko Petroleum Corp., 5.55%, 3/15/26, | 2,243 | ||||
100 | Andeavor Logis, LP / Tesoro Logistics Finance Corp., 5.50%, 10/15/19, | 104 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Corporate Bonds (continued) | ||||||||
$ | 2,000 | Antero Resources Corp., 5.63%, 6/1/23, | $ | 2,080 | ||||
100 | AT&T, Inc., 2.01% (US0003M + 65 bps), 1/15/20 (Diversified Telecommunication Services) (f) | 101 | ||||||
100 | Autonation, Inc., 3.35%, 1/15/21, | 101 | ||||||
100 | BAT Capital Corp., 2.00% (US0003M + 59 bps), 8/14/20 (Tobacco) (c)(f) | 101 | ||||||
1,050 | Boardwalk Pipelines LP, 4.95%, 12/15/24, | 1,125 | ||||||
100 | Broadcom Corp. / Broadcom Cayman Finance Ltd., 2.20%, 1/15/21 (c) | 98 | ||||||
2,000 | Buckeye Partners LP, 3.95%, 12/1/26, | 1,965 | ||||||
1,800 | Carrizo Oil & Gas, Inc., 6.25%, 4/15/23, | 1,868 | ||||||
100 | CNH Industrial Capital LLC, 3.38%, 7/15/19 | 101 | ||||||
2,000 | Continental Resources, Inc., 5.00%, 9/15/22, | 2,030 | ||||||
100 | Crown Castle Towers LLC, 6.11%, 1/15/20 (c) | 104 | ||||||
100 | Dell International LLC, 3.48%, 6/1/19 | 101 | ||||||
100 | Dell International LLC, 4.42%, 6/15/21, | 104 | ||||||
100 | Delta Air Lines, Inc., 2.88%, 3/13/20 (Airlines) | 101 | ||||||
100 | Discovery Communications, 2.34% (US0003M + 71 bps), 9/20/19 (f) | 101 | ||||||
100 | Emera US Finance, LP, 2.70%, 6/15/21, | 100 | ||||||
100 | Equities Corp., 2.11% (US0003M + 77 bps), 10/1/20, Callable 10/5/18 @ 100 (f) | 100 | ||||||
100 | ERAC USA Finance LLC, 2.35%, 10/15/19 (Road & Rail) (c) | 100 | ||||||
100 | Forest Laboratories LLC, 4.88%, 2/15/21, | 106 | ||||||
100 | Fresenius Medical Care US Finance II, Inc., 5.63%, 7/31/19 (Health Care Providers & Services) (c) | 105 | ||||||
100 | GATX Corp., 2.50%, 7/30/19 | 100 | ||||||
400 | Goldman Sachs Group, Inc., 2.79% (US0003M + 120 bps), 9/15/20, Callable 8/15/20 @ 100 (Capital Markets) (f) | 408 | ||||||
2,020 | Hess Corp., 4.30%, 4/1/27, Callable 1/1/27 @ 100 (Oil, Gas & Consumable Fuels) | 2,024 | ||||||
100 | Hyundai Capital America, 2.50%, 3/18/19 (Consumer Finance) (c) | 99 | ||||||
100 | International Lease Finance Corp., 8.25%, 12/15/20 (Trading Companies & Distributors) | 115 | ||||||
100 | KLA-Tencor Corp., 3.38%, 11/1/19, | 102 |
See accompanying notes to financial statements.
64
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Corporate Bonds (continued) | ||||||||
$ | 2,000 | Marathon Oil Corp., 2.80%, 11/1/22, | $ | 1,980 | ||||
660 | Murphy Oil Corp., 4.00%, 6/1/22, | 662 | ||||||
1,000 | Murphy Oil Corp., 5.75%, 8/15/25, | 1,022 | ||||||
813 | Nabors Industries, Inc., 4.63%, 9/15/21 (Energy Equipment & Services) | 774 | ||||||
2,000 | Newfield Exploration Co., 5.75%, 1/30/22 (Oil, Gas & Consumable Fuels) | 2,135 | ||||||
100 | Nissan Motor Acceptance Corp., 1.55%, 9/13/19 (Consumer Finance) (c) | 99 | ||||||
1,069 | Noble Energy, Inc. Senior Note, 5.63%, 5/1/21, | 1,098 | ||||||
1,050 | Plains All American Pipeline, LP, | 1,022 | ||||||
2,000 | Range Resources Corp., 5.75%, 6/1/21, | 2,075 | ||||||
100 | Reed Elsevier N.V., 8.63%, 1/15/19 (Professional Services) | 106 | ||||||
40 | Textron, Inc., 1.96% (US0003M + 55 bps), 11/10/20, Callable 11/12/18 @ 100 (f) | 40 | ||||||
100 | Time Warner Cable, Inc., 8.75%, 2/14/19 (Media) | 107 | ||||||
104 | Verizon Communications, 3.38%, 2/15/25 (Diversified Telecommunication Services) (c) | 104 | ||||||
100 | VMware, Inc., 2.95%, 8/21/22, | 100 | ||||||
100 | Zimmer Biomet Holdings, Inc., 2.70%, 4/1/20, | 100 | ||||||
|
| |||||||
Total Corporate Bonds | 28,390 | |||||||
|
| |||||||
Asset Backed Securities — 0.02% | ||||||||
110 | Vericrest Opportunity Loan Transferee, | 110 | ||||||
25 | Vericrest Opportunity Loan Transferee, | 25 | ||||||
|
| |||||||
Total Asset Backed Securities | 135 | |||||||
|
| |||||||
Collateralized Mortgage Obligations — 0.06% | ||||||||
100 | Apidos CLO, Class 13-16A A1R, 2.29% (US0003M + 98 bps), 1/19/25, | 100 | ||||||
100 | Banc of America Merrill Lynch Large Loan, Series 2015-ASHF, Class A, 2.70% (LIBOR01M + 122 bps), 1/15/28 (c)(f) | 100 | ||||||
37 | Colt Funding LLC, Series 2016-1, Class A1, 3.00%, 5/25/46, | 37 | ||||||
9 | Goldman Sachs Real Estate Mortgage Loan Trust, Series 2005-AR1, Class 1A1, 3.86%, 1/25/35, Callable 1/25/18 @ 100 (g) | 9 | ||||||
100 | IndyMac Residential, Series 2005-B, Class M3, 2.04% (US0001M + 49 bps), 8/25/35, | 100 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Collateralized Mortgage Obligations (continued) | ||||||||
$ | 100 | NovaStar Home Equity Loan, Series 2005-1, Class M5, 2.63% (LIBOR01M + 108 bps), 6/25/35, Callable 1/25/18 @ 100 (f) | $ | 101 | ||||
15 | WAMU Mortgage Pass-Through Certificates, Series 2002-AR17, Class 1A, 2.26% (12MTA + 120 bps), 11/25/42, | 15 | ||||||
11 | WAMU Mortgage Pass-Through Certificates, Series 2005-AR13A1, Class A1A1, 1.84% (US0001M + 29 bps), 10/25/45, | 11 | ||||||
17 | Eurosail PLC, Series 2006-4X, Class A3C, | 23 | ||||||
|
| |||||||
Total Collateralized Mortgage Obligations | 496 | |||||||
|
| |||||||
Certificates of Deposit — 0.02% | ||||||||
100 | Barclays Bank PLC NY, 1.94%, 9/4/18 | 100 | ||||||
100 | Barclays Bank PLC NY, 2.06% (US0003M + | 100 | ||||||
|
| |||||||
Total Certificates of Deposit | 200 | |||||||
|
| |||||||
U.S. Government Agency Securities — 0.01% | ||||||||
92 | Federal National Mortgage Association, | 96 | ||||||
|
| |||||||
Total U.S. Government Agency Securities | 96 | |||||||
|
| |||||||
U.S. Treasury Obligations — 0.20% | ||||||||
276 | U.S. Treasury Bill, 0.57%, 1/4/18 (b)(e) | 276 | ||||||
163 | U.S. Treasury Bill, 1.23%, 3/1/18 (b)(e) | 163 | ||||||
105 | U.S. Treasury Inflation Index Note, | 105 | ||||||
161 | U.S. Treasury Inflation Index Note, | 161 | ||||||
13 | U.S. Treasury Inflation Index Bond, | 15 | ||||||
420 | U.S. Treasury Note, 2.00%, 2/15/25 | 410 | ||||||
70 | U.S. Treasury Note, 1.63%, 5/15/26 | 66 | ||||||
235 | U.S. Treasury Inflation Index Bond, | 265 | ||||||
275 | U.S. Treasury Inflation Index Bond, | 318 | ||||||
|
| |||||||
Total U.S. Treasury Obligations | 1,779 | |||||||
|
| |||||||
Yankee Dollars — 0.37% | ||||||||
Canada — 0.25% | ||||||||
2,000 | Cenovus Energy, Inc., 3.80%, 9/15/23, | 2,021 | ||||||
100 | Enbridge, Inc., 2.29% (US0003M + 70 bps), 6/15/20 (Oil, Gas & Consumable Fuels) (f) | 101 | ||||||
|
| |||||||
2,122 | ||||||||
|
| |||||||
Germany — 0.01% | ||||||||
100 | Deutsche Bank AG, 2.80% (US0003M + 145 bps), 1/18/19 (Capital Markets) (f) | 101 | ||||||
|
| |||||||
Ireland — 0.01% | ||||||||
100 | Shire Acquisitions Investments Ireland DA, 1.90%, 9/23/19 | 99 | ||||||
|
| |||||||
Netherlands — 0.04% | ||||||||
100 | British Transco International Finance BV, | 90 |
See accompanying notes to financial statements.
65
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Yankee Dollars (continued) | ||||||||
Netherlands (continued) | ||||||||
$ | 100 | Mylan N.V., 3.15%, 6/15/21, | $ | 101 | ||||
200 | Volkswagen International Finance N.V., 2.13%, 11/20/18 (Automobiles) (c) | 199 | ||||||
|
| |||||||
390 | ||||||||
|
| |||||||
Singapore — 0.01% | ||||||||
100 | Flex Ltd., 4.63%, 2/15/20 | 103 | ||||||
|
| |||||||
Spain — 0.01% | ||||||||
100 | Telefonica Emisiones Sau, 5.88%, 7/15/19 (Diversified Telecommunication Services) | 105 | ||||||
|
| |||||||
Switzerland — 0.04% | ||||||||
300 | UBS AG Stamford Connecticut, | 350 | ||||||
|
| |||||||
Total Yankee Dollars | 3,270 | |||||||
|
| |||||||
Time Deposit — 0.25% | ||||||||
2,212 | State Street Liquidity Management Control System Eurodollar Time Deposit, | 2,212 | ||||||
|
| |||||||
Total Time Deposit | 2,212 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 10.26% | ||||||||
9,782,809 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^(i) | 9,783 | ||||||
35 | State Street Institutional Treasury Money Market Fund, 1.15% (i) | — | ||||||
80,254,831 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (i) | 80,255 | ||||||
|
| |||||||
Total Mutual Funds | 90,038 | |||||||
|
| |||||||
Purchased Options and Swaptions — 0.01% | ||||||||
Total Purchased Options and Swaptions | 103 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreements — 5.63% | ||||||||
$ | 6,600 | Bank of America Corp., 1.40%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $6,601,027 collateralized by U.S. Treasury Bond, 3.00%, 5/15/45, fair value $6,732,183) (b) | 6,600 | |||||
8,700 | Bank of Nova Scotia, 1.75%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $8,701,692 collateralized by U.S. Treasury Note, 2.13%, 3/31/24, fair value $8,887,413) (b) | 8,700 | ||||||
1,100 | BNP Paribas, 1.87%, 1/2/18 | 1,100 | ||||||
6,400 | BNP Paribas, 1.35%, 1/2/18 | 6,400 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreements (continued) | ||||||||
$ | 1,100 | Deutsche Bank Securities, Inc., 1.70%, 1/2/18 | $ | 1,100 | ||||
6,500 | Deutsche Bank Securities, Inc., 1.40%, 1/2/18 | 6,500 | ||||||
9,102 | Jefferies LLC, 1.50%, 1/2/18 | 9,102 | ||||||
1,100 | JPMorgan Securities, 1.81%, 1/2/18 | 1,100 | ||||||
1,100 | Merrill Lynch Pierce Fenner & Smith, Inc., 1.86%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $1,100,227 collateralized by U.S. Treasury Bond, | 1,100 | ||||||
6,600 | RBS Securities, Inc., 1.35%, 1/2/18 | 6,600 | ||||||
1,100 | Toronto Dominion Bank NY, 1.80%, 1/2/18 | 1,100 | ||||||
|
| |||||||
Total Repurchase Agreements | 49,402 | |||||||
|
| |||||||
Total Investments | 886,287 | |||||||
Liabilities in excess of other | (8,584 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 877,703 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $18,541 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | All or a portion of these investments are held by the wholly-owned subsidiaries of the Portfolio. See Note 2.O. in the Notes to Financial Statements. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
(d) | These securities have been deemed illiquid by the Specialist Manager and represent 0.00% of the Portfolio’s net assets. |
(e) | Rate disclosed represents effective yield at purchase. |
(f) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2017. |
(g) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate presented is the rate in effect at December 31, 2017. |
(h) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(i) | The rate disclosed is the rate in effect on December 31, 2017. |
12MTA — 12 Month Treasury Average
ADR — American Depositary Receipt
bps — Basis Points
BP0003M — 3 Month GBP LIBOR
GDR — Global Depositary Receipt
LIBOR — Represents the London InterBank Offered Rate
LIBOR01M — 1 Month US Dollar LIBOR
US0001M — 1 Month US Dollar LIBOR
US0003M — 3 Month US Dollar LIBOR
US0012M — 12 Month US Dollar LIBOR
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Commodity Returns Strategy | Mellon Capital Management Corporation | Pacific Investment Management Company, LLC | Parametric Portfolio Associates, LLC | Vaughan Nelson Investment Management L.P. | Wellington Management Company, LLP | HC Capital Solutions | Total | |||||||||||||||||||||
Common Stocks | 59.46 | % | — | — | — | 20.79 | % | — | 80.25 | % | ||||||||||||||||||
Preferred Stocks | 0.54 | % | — | — | — | 0.08 | % | — | 0.62 | % | ||||||||||||||||||
Right | — | — | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||||||||
Commercial Paper | — | 0.05 | % | — | — | — | — | 0.05 | % | |||||||||||||||||||
Corporate Bonds | — | 0.35 | % | — | 2.88 | % | — | — | 3.23 | % | ||||||||||||||||||
Asset Backed Security | — | 0.02 | % | — | — | — | — | 0.02 | % | |||||||||||||||||||
Collateralized Mortgage Obligations | — | 0.06 | % | — | — | — | — | 0.06 | % | |||||||||||||||||||
Certificates of Deposit | — | 0.02 | % | — | — | — | — | 0.02 | % | |||||||||||||||||||
U.S. Government Agency Securities | — | 0.01 | % | — | — | — | — | 0.01 | % | |||||||||||||||||||
U.S. Treasury Obligations | — | 0.20 | % | — | — | — | — | 0.20 | % | |||||||||||||||||||
Yankee Dollars | — | 0.14 | % | — | 0.23 | % | — | — | 0.37 | % | ||||||||||||||||||
Time Deposit | — | 0.06 | % | — | — | 0.19 | % | — | 0.25 | % | ||||||||||||||||||
Mutual Funds | 1.66 | % | — | 8.09 | % | 0.06 | % | 0.21 | % | 0.24 | % | 10.26 | % | |||||||||||||||
Purchased Options and Swaptions | — | 0.00 | % | — | — | 0.01 | % | — | 0.01 | % | ||||||||||||||||||
Repurchase Agreements | 0.84 | % | 1.62 | % | — | — | 3.17 | % | — | 5.63 | % | |||||||||||||||||
Other Assets | -0.74 | % | 0.08 | % | -0.12 | % | 0.03 | % | -0.23 | % | — | -0.98 | % | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total Net Assets | 61.76 | % | 2.61 | % | 7.97 | % | 3.20 | % | 24.22 | % | 0.24 | % | 100.00 | % | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||
10-Year US Treasury Note Future (a) | 1 | 3/20/18 | $ | 125 | $ | 124 | $ | (1 | ) | |||||||||||
10-Year US Treasury Note Future | 2 | 3/20/18 | 249 | 248 | (1 | ) | ||||||||||||||
30-Year US Treasury Bond Future | 4 | 3/20/18 | 611 | 612 | 1 | |||||||||||||||
Brent Crude Future (a) | 62 | 1/31/18 | 3,913 | 4,146 | 233 | |||||||||||||||
Brent Crude Future (a) | 3 | 10/31/19 | 157 | 181 | 24 | |||||||||||||||
Brent Crude Future (a) | 1 | 10/30/20 | 54 | 58 | 4 | |||||||||||||||
Canadian Dollar Future | 182 | 3/20/18 | 14,164 | 14,542 | 378 | |||||||||||||||
Cocoa Future (a) | 8 | 3/14/18 | 168 | 151 | (17 | ) | ||||||||||||||
Coffee ‘C’ Future (a) | 12 | 3/14/18 | 585 | 568 | (17 | ) | ||||||||||||||
Corn Future (a) | 82 | 3/14/18 | 1,455 | 1,438 | (17 | ) | ||||||||||||||
Corn Future (a) | 3 | 12/14/18 | 59 | 58 | (1 | ) | ||||||||||||||
Cotton No.2 Future (a) | 2 | 3/7/18 | 68 | 79 | 11 | |||||||||||||||
Electrolytic Copper Future (a) | 17 | 3/19/18 | 2,926 | 3,080 | 154 | |||||||||||||||
E-Mini S&P 500 Future | 44 | 3/16/18 | 5,812 | 5,887 | 75 | |||||||||||||||
Gas Oil Future (a) | 16 | 2/12/18 | 902 | 963 | 61 | |||||||||||||||
Gasoline RBOB Future (a) | 5 | 1/31/18 | 367 | 377 | 10 | |||||||||||||||
Gasoline RBOB Future (a) | 1 | 3/29/18 | 79 | 84 | 5 | |||||||||||||||
Gold 100 Oz Future (a) | 24 | 2/26/18 | 3,108 | 3,142 | 34 | |||||||||||||||
Hard Red Winter Wheat Future 9a) | 2 | 3/14/18 | 51 | 43 | (8 | ) | ||||||||||||||
Hard Red Winter Wheat Future (a) | 28 | 3/14/18 | 612 | 598 | (14 | ) | ||||||||||||||
Hard Red Winter Wheat Future (a) | 1 | 5/14/18 | 22 | 22 | — | |||||||||||||||
ICE WTI Crude Future (a) | 3 | 2/16/18 | 171 | 181 | 10 | |||||||||||||||
ICE WTI Crude Future (a) | 1 | 11/16/18 | 49 | 58 | 9 | |||||||||||||||
LME Lead Future (a) | 8 | 3/19/18 | 504 | 498 | (6 | ) | ||||||||||||||
Mini MSCI EAFE Index Future | 44 | 3/16/18 | 4,440 | 4,500 | 60 | |||||||||||||||
Mini MSCI Emerging Markets Index Future | 35 | 3/16/18 | 1,933 | 2,036 | 103 | |||||||||||||||
Natural Gas Future (a) | 11 | 1/29/18 | 290 | 325 | 35 | |||||||||||||||
Natural Gas Future (a) | 3 | 2/26/18 | 97 | 87 | (10 | ) | ||||||||||||||
Natural Gas Future (a) | 31 | 3/27/18 | 916 | 852 | (64 | ) | ||||||||||||||
Natural Gas Future (a) | 18 | 9/26/18 | 503 | 506 | 3 | |||||||||||||||
Natural Gas Future (a) | 1 | 1/29/19 | 33 | 31 | (2 | ) | ||||||||||||||
NY Harbor ULSD Future (a) | 7 | 1/31/18 | 564 | 608 | 44 | |||||||||||||||
NYMEX WTI Crude Future (a) | 39 | 1/22/18 | 2,105 | 2,356 | 251 | |||||||||||||||
NYMEX WTI Crude Future (a) | 3 | 5/21/19 | 147 | 169 | 22 | |||||||||||||||
NYMEX WTI Crude Future (a) | 1 | 5/19/20 | 52 | 54 | 2 | |||||||||||||||
Primary Aluminum Future (a) | 65 | 3/19/18 | 3,465 | 3,691 | 226 | |||||||||||||||
Primary Nickel Future (a) | 8 | 3/19/18 | 571 | 612 | 41 | |||||||||||||||
S&P/Toronto Stock Exchange 60 Index Future | 98 | 3/15/18 | 14,878 | 14,931 | 53 | |||||||||||||||
Silver Future (a) | 13 | 3/27/18 | 1,113 | 1,114 | 1 | |||||||||||||||
Soybean Future (a) | 20 | 3/14/18 | 967 | 962 | (5 | ) | ||||||||||||||
Soybean Meal Future (a) | 20 | 3/14/18 | 655 | 634 | (21 | ) | ||||||||||||||
Sugar #11 (World) Future (a) | 43 | 4/30/18 | 695 | 723 | 28 | |||||||||||||||
Wheat (CBT) Future (a) | 16 | 3/14/18 | 353 | 342 | (11 | ) |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||
White Sugar Future (a) | 5 | 2/13/18 | $ | 93 | $ | 99 | $ | 6 | ||||||||||||
Zinc Future (a) | 12 | 3/19/18 | 955 | 998 | 43 | |||||||||||||||
|
|
|
|
|
| |||||||||||||||
$ | 71,036 | $ | 72,768 | $ | 1,732 | |||||||||||||||
|
|
|
|
|
|
Futures Contracts Sold^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||
Brent Crude Future (a) | 3 | 1/31/18 | $ | 201 | $ | 188 | $ | (13 | ) | |||||||||||
Brent Crude Future (a) | 1 | 10/31/18 | 64 | 55 | (9 | ) | ||||||||||||||
Brent Crude Future (a) | 2 | 10/31/18 | 127 | 124 | (3 | ) | ||||||||||||||
Brent Crude Future (a) | 1 | 4/30/19 | 62 | 52 | (10 | ) | ||||||||||||||
Brent Crude Future (a) | 3 | 4/30/20 | 177 | 160 | (17 | ) | ||||||||||||||
Brent Crude Future (a) | 5 | 10/30/20 | 292 | 272 | (20 | ) | ||||||||||||||
Coffee Robusta 10TN Future (a) | 15 | 3/30/18 | 257 | 256 | (1 | ) | ||||||||||||||
Corn Future (a) | 11 | 7/13/18 | 202 | 209 | 7 | |||||||||||||||
Corn Future (a) | 3 | 9/14/18 | 56 | 58 | 2 | |||||||||||||||
Corn Future (a) | 14 | 12/14/18 | 269 | 267 | (2 | ) | ||||||||||||||
Gasoline RBOB Future (a) | 1 | 2/28/18 | 76 | 72 | (4 | ) | ||||||||||||||
Gasoline RBOB Future (a) | 4 | 2/28/18 | 305 | 258 | (47 | ) | ||||||||||||||
Natural Gas Future (a) | 2 | 1/29/18 | 59 | 54 | (5 | ) | ||||||||||||||
Natural Gas Future (a) | 17 | 2/26/18 | 494 | 547 | 53 | |||||||||||||||
Natural Gas Future (a) | 2 | 3/27/18 | 55 | 58 | 3 | |||||||||||||||
Natural Gas Future (a) | 16 | 4/26/18 | 439 | 433 | (6 | ) | ||||||||||||||
Natural Gas Future (a) | 11 | 9/26/18 | 309 | 291 | (18 | ) | ||||||||||||||
Natural Gas Future (a) | 1 | 12/27/18 | 31 | 33 | 2 | |||||||||||||||
Natural Gas Future (a) | 1 | 12/27/19 | 30 | 28 | (2 | ) | ||||||||||||||
Natural Gas Future (a) | 1 | 1/29/20 | 30 | 28 | (2 | ) | ||||||||||||||
Natural Gas Future (a) | 1 | 2/26/20 | 30 | 28 | (2 | ) | ||||||||||||||
Natural Gas Future (a) | 1 | 3/27/20 | 27 | 29 | 2 | |||||||||||||||
Natural Gas Future (a) | 1 | 4/28/20 | 27 | 29 | 2 | |||||||||||||||
Natural Gas Future (a) | 1 | 5/27/20 | 27 | 28 | 1 | |||||||||||||||
Natural Gas Future (a) | 1 | 6/26/20 | 27 | 28 | 1 | |||||||||||||||
Natural Gas Future (a) | 1 | 7/29/20 | 27 | 28 | 1 | |||||||||||||||
Natural Gas Future (a) | 1 | 8/27/20 | 27 | 28 | 1 | |||||||||||||||
Natural Gas Future (a) | 1 | 9/28/20 | 28 | 28 | — | |||||||||||||||
Natural Gas Future (a) | 1 | 10/28/20 | 28 | 28 | — | |||||||||||||||
Natural Gas Future (a) | 1 | 11/26/20 | 30 | 28 | (2 | ) | ||||||||||||||
NYMEX WTI Crude Future (a) | 1 | 5/22/18 | 60 | 59 | (1 | ) | ||||||||||||||
NYMEX WTI Crude Future (a) | 3 | 11/20/19 | 165 | 152 | (13 | ) | ||||||||||||||
NYMEX WTI Crude Future (a) | 5 | 11/20/19 | 275 | 266 | (9 | ) | ||||||||||||||
Primary Aluminum Future (a) | 8 | 12/17/18 | 461 | 414 | (47 | ) | ||||||||||||||
Sugar #11 (World) Future (a) | 5 | 2/28/18 | 85 | 81 | (4 | ) | ||||||||||||||
Wheat (CBT) Future (a) | 1 | 3/14/18 | 21 | 25 | 4 | |||||||||||||||
Wheat (CBT) Future (a) | 2 | 5/14/18 | 44 | 44 | — |
See accompanying notes to financial statements.
69
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HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Description | Number of | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Wheat (CBT) Future (a) | 17 | 12/14/18 | $ | 410 | $ | 402 | $ | (8 | ) | |||||||||
|
|
|
|
|
| |||||||||||||
$ | 5,334 | $ | 5,168 | $ | (166 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation |
| $ | 2,006 | |||||||||||||||
Total Unrealized Depreciation |
| (440 | ) | |||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 1,566 | |||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Forward Currency Contracts
Short Contracts
Description and amount | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
U.S. Dollar | 128 | British Pound Sterling | 95 | JP Morgan Chase | 1/10/18 | $ | — | |||||||||||||
U.S. Dollar | 78 | Canadian Dollar | 100 | Deutsche Bank | 1/8/18 | (2 | ) | |||||||||||||
U.S. Dollar | 78 | Canadian Dollar | 100 | Deutsche Bank | 1/16/18 | (2 | ) | |||||||||||||
U.S. Dollar | 78 | Canadian Dollar | 100 | JP Morgan Chase | 1/5/18 | (1 | ) | |||||||||||||
U.S. Dollar | 78 | Canadian Dollar | 100 | Deutsche Bank | 1/8/18 | (2 | ) | |||||||||||||
U.S. Dollar | 78 | Canadian Dollar | 100 | JP Morgan Chase | 1/8/18 | (2 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | (9 | ) | ||||||||||||||||||
|
|
Long Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
British Pound Sterling (a) | 67 | U.S. Dollar | 88 | BNP Paribas | 2/15/18 | $ | 3 | |||||||||||||
Mexican Peso | �� | 621 | U.S. Dollar | 33 | BNP Paribas | 1/24/18 | (2 | ) | ||||||||||||
|
| |||||||||||||||||||
$ | 1 | |||||||||||||||||||
|
| |||||||||||||||||||
Total Unrealized Appreciation |
| $ | 3 | |||||||||||||||||
Total Unrealized Depreciation |
| (11 | ) | |||||||||||||||||
|
| |||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (8 | ) | ||||||||||||||||
|
|
Options & Swaptions Contracts
Exchange-traded options purchased as of December 31, 2017 were as follows:
Description | Number of Contracts | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | |||||||||||||||
Crude Oil Call Option (a) | 9 | $ | 9 | $ | 63.00 | 1/29/18 | $ | 34 | ||||||||||||
Gold Call Option (a) | 8 | 1 | 1,270.00 | 1/26/18 | 33 | |||||||||||||||
Natural Gas EURO Call Option (a) | 1 | 1 | 3.00 | 3/27/18 | 1 | |||||||||||||||
Primary Aluminum Call Option (a) | 10 | — | 2,200.00 | 3/8/18 | 30 | |||||||||||||||
|
| |||||||||||||||||||
Total | $ | 98 | ||||||||||||||||||
|
|
See accompanying notes to financial statements.
70
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Exchange-traded options written as of December 31, 2017 were as follows:
Description | Number of Contracts | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | |||||||||||||||
Crude Oil Call Option (a) | 9 | $ | 9 | $ | 67.00 | 1/29/18 | $ | (11 | ) | |||||||||||
Natural Gas CSO Call Option (a) | 1 | 10 | 0.50 | 2/26/18 | (1 | ) | ||||||||||||||
Natural Gas EURO Put Option (a) | 4 | 40 | 2.45 | 4/26/18 | (3 | ) | ||||||||||||||
|
| |||||||||||||||||||
Total | $ | (15 | ) | |||||||||||||||||
|
|
Over-the-counter foreign currency options and swaptions purchased as of December 31, 2017 were as follows:
Description and terms of payments | Counterparty | Number of Contracts | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | ||||||||||||||||
30 Year Interest Rate, Pay 6-Month USD LIBOR | Deutsche Bank | 50 | $ | 50 | $ | 2.15 | 6/15/18 | $ | — | |||||||||||||
30 Year Interest Rate, Pay 6-Month USD LIBOR | Deutsche Bank | 50 | 50 | 2.15 | 6/15/18 | 5 | ||||||||||||||||
|
| |||||||||||||||||||||
Total | $ | 5 | ||||||||||||||||||||
|
|
Total Return Swap Agreements
Pay/ Receive | Financing Rate | Description | Counterparty | Payment Frequency | Expiration Date | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Pay | 0.12 | % | Bloomberg Silver Sub Index (a) | Goldman Sachs International | Monthly | 4/30/18 | $ | 543 | $ | 22 | $ | — | $ | 22 | ||||||||||||||||
Pay | 0.30 | % | Bloomberg Soybean Meal Index (a) | Barclays Bank PLC | Monthly | 2/14/18 | 249 | (10 | ) | — | (10 | ) | ||||||||||||||||||
Pay | 0.00 | % | Bloomberg Industrial Metals Subindex (a) | Barclays Bank PLC | Monthly | 3/29/18 | (200 | ) | (18 | ) | — | (18 | ) | |||||||||||||||||
Pay | 0.15 | % | S&P GSCI Grains Index (a) | Barclays Bank PLC | Monthly | 2/28/18 | 23 | — | — | — | ||||||||||||||||||||
Pay | 0.10 | % | S&P GSCI Grains Index (a) | Goldman Sachs International | Monthly | 5/31/18 | 450 | 35 | — | 35 | ||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
$ | 29 | $ | — | $ | 29 | |||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
Total upfront premiums paid |
| $ | — | |||||||||||||||||||||||||||
Total upfront premiums received |
| — | ||||||||||||||||||||||||||||
Total unrealized appreciation |
| 57 | ||||||||||||||||||||||||||||
Total unrealized depreciation |
| (28 | ) | |||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Total value |
| $ | 29 | |||||||||||||||||||||||||||
|
|
Interest Rate Swap Agreements
Description and terms of payments | Description and terms of | Payment Frequency | Expiration Date | Counterparty | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||||
Receive U.S. CPI Urban Consumers NSA Annually | Pay 2.50% Fixed Annually | Monthly | 7/15/22 | | Deutsche Bank AG | | 500 | USD | $ | (45 | ) | $ | 1 | $ | (46 | ) | ||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (45 | ) | $ | 1 | $ | (46 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
See accompanying notes to financial statements.
71
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Centrally Cleared Interest Rate Swap Agreements
Description and terms of payments | Description and terms of payments to be paid to another party | Payment | Expiration Date | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Receive 3-Month U.S. Dollar LIBOR BBA | Pay 2.00% Fixed | Daily | 12/16/20 | 700 | USD | $ | 3 | $ | (17 | ) | $ | 20 | ||||||||||||||||
Receive 5.83% Fixed | Pay Mexico Interbank TIIE 28-Day | Daily | 1/21/23 | 1,300 | MXN | (5 | ) | — | (5 | ) | ||||||||||||||||||
Receive Fixed 6.35% | Pay Mexico Interbank TIIE 28-Day | Daily | 9/1/23 | 3,000 | MXN | (11 | ) | 9 | (20 | ) | ||||||||||||||||||
Receive Fixed 2.68% | Pay 3-Month U.S. Dollar LIBOR BBA | Daily | 10/25/23 | 300 | USD | 4 | — | 4 | ||||||||||||||||||||
Receive 3-Month U.S. Dollar LIBOR BBA | Pay 2.80% Fixed | Daily | 10/28/25 | 2,450 | USD | (36 | ) | (4 | ) | (32 | ) | |||||||||||||||||
Receive Fixed 2.24% | Pay US CPI Urban Consumers NSA | Daily | 11/21/26 | 200 | USD | 1 | (1 | ) | 2 | |||||||||||||||||||
Receive 3-Month U.S. Dollar LIBOR BBA | Pay 1.75% Fixed | Daily | 12/21/26 | 700 | USD | 35 | 42 | (7 | ) | |||||||||||||||||||
Receive Fixed 3.30% | Pay UK RPI all items NSA | Daily | 12/15/30 | 340 | GBP | (9 | ) | (12 | ) | 3 | ||||||||||||||||||
Receive 3-Month U.S. Dollar LIBOR BBA | Pay 2.25% Fixed | Daily | 12/21/46 | 340 | USD | 24 | 35 | (11 | ) | |||||||||||||||||||
Receive 3-Month U.S. Dollar LIBOR BBA | Pay 2.97% Fixed | Daily | 10/25/48 | 50 | USD | (4 | ) | — | (4 | ) | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ | 2 | $ | 52 | $ | (50 | ) | ||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
Total upfront premiums paid | $ | 86 | ||||||||||||||||||||||||||
Total upfront premiums received | (34 | ) | ||||||||||||||||||||||||||
Total unrealized appreciation | 29 | |||||||||||||||||||||||||||
Total unrealized depreciation | (79 | ) | ||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
Total value | $ | 2 | ||||||||||||||||||||||||||
|
|
Commodity Forward Swap Agreements
Underlying Instruments | Counterparty | Expiration Date | Exercise Price | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||
Eurmarg (a) | BNP Paribas | 4/2/18 | $ | 7.55 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
Eurmarg (a) | BNP Paribas | 3/31/18 | 12.72 | — | — | — | — | |||||||||||||||||||
Eurmarg (a) | Goldman Sachs International | 1/2/19 | 10.85 | 1 | 1 | — | 1 | |||||||||||||||||||
Eurmarg (a) | Goldman Sachs International | 4/2/18 | 7.55 | — | — | — | — | |||||||||||||||||||
Eurmarg (a) | JPMorgan Chase | 4/2/18 | 5.10 | 1 | (2 | ) | — | (2 | ) | |||||||||||||||||
Eurmarg (a) | Macquarie | 4/2/18 | 6.20 | 1 | 2 | (1 | ) | 3 | ||||||||||||||||||
Eurmarg (a) | Macquarie | 1/2/19 | 5.58 | 1 | 1 | — | 1 | |||||||||||||||||||
Gold (a) | Goldman Sachs International | 2/1/18 | 1,215.00 | — | 23 | — | 23 | |||||||||||||||||||
KCBT-CBOT Intercommodity Wheat Spread (a) | JPMorgan Chase | 6/25/18 | 3.00 | 24 | 1 | — | 1 | |||||||||||||||||||
Napgasfo (a) | JPMorgan Chase | 1/2/19 | 12.00 | 4 | 4 | — | 4 | |||||||||||||||||||
Napgasfo (a) | Macquarie | 4/3/18 | 13.00 | 1 | — | — | — | |||||||||||||||||||
Orexio Option (a) | Goldman Sachs International | 1/1/20 | 54.00 | 1 | 6 | — | 6 | |||||||||||||||||||
Silver (a) | Goldman Sachs International | 6/1/18 | 17.16 | 14 | — | — | — | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 36 | (1 | ) | $ | 37 | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Total upfront premiums paid | $ | — | ||||||||||||||||||||||||
Total upfront premiums received | (1 | ) | ||||||||||||||||||||||||
Total unrealized appreciation | 39 | |||||||||||||||||||||||||
Total unrealized depreciation | (2 | ) | ||||||||||||||||||||||||
|
| |||||||||||||||||||||||||
Total value | $ | 36 | ||||||||||||||||||||||||
|
|
See accompanying notes to financial statements.
72
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Commodity Swap Agreements
Pay/ | Financing Rate | Underlying Instruments | Counterparty | Payment Frequency | Expiration Date | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||
Pay | 0.12 | % | Bloomberg Commodity Index (a) | BNP Paribas | Monthly | 2/15/18 | $ | 135 | $ | 7 | $ | — | $ | 7 | ||||||||||||||||
Pay | 0.14 | % | Bloomberg Commodity Index (a) | BNP Paribas | Monthly | 2/15/18 | 2,655 | 130 | — | 130 | ||||||||||||||||||||
Pay | 0.14 | % | Bloomberg Commodity Index (a) | BNP Paribas | Monthly | 2/15/18 | 388 | 19 | — | 19 | ||||||||||||||||||||
Pay | 0.12 | % | Bloomberg Commodity Index (a) | Canadian Imperial Bank of Commerce | Monthly | 2/15/18 | 123 | 123 | — | 123 | ||||||||||||||||||||
Pay | 0.13 | % | Bloomberg Commodity Index (a) | Goldman Sachs International | Monthly | 2/15/18 | 1,066 | 52 | — | 52 | ||||||||||||||||||||
Pay | 0.13 | % | Bloomberg Commodity Index (a) | JPMorgan Chase | Monthly | 2/15/18 | 14,743 | 720 | — | 720 | ||||||||||||||||||||
Pay | 0.25 | % | CBOE Skew Index (a) | Goldman Sachs International | Monthly | 2/15/18 | 381 | 18 | — | 18 | ||||||||||||||||||||
Pay | 0.30 | % | J.P. Morgan Dew2 Index (a) | JPMorgan Chase | Monthly | 2/15/18 | 743 | (9 | ) | — | (9 | ) | ||||||||||||||||||
Pay | — | % | CIBC Custom Index 17 (a)(b) | Canadian Imperial Bank of Commerce | Monthly | 2/15/18 | 170 | 9 | 8 | 1 | ||||||||||||||||||||
Pay | — | % | Macquarie Commodity Custom Index MQCP235E (a)(b) | Macquarie | Monthly | 2/15/18 | 170 | 9 | 8 | 1 | ||||||||||||||||||||
Pay | 0.05 | % | S&P GSCI Grains Index (a) | BNP Paribas | Monthly | 2/15/18 | 26 | (2 | ) | — | (2 | ) | ||||||||||||||||||
Pay | 0.05 | % | S&P GSCI Grains Index (a) | JPMorgan Chase | Monthly | 2/15/18 | 21 | (1 | ) | — | (1 | ) | ||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
$ | 1,075 | $ | 16 | $ | 1,059 | |||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
Total upfront premiums paid | $ | 16 | ||||||||||||||||||||||||||||
| Total upfront premiums | | — | |||||||||||||||||||||||||||
Total unrealized appreciation | 1,071 | |||||||||||||||||||||||||||||
Total unrealized depreciation | (12 | ) | ||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Total value | $ | 1,075 | ||||||||||||||||||||||||||||
|
|
Variance Swap Agreements
Underlying Instruments | Counterparty | Expiration Date | Exercise Price | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||
Gold (a) | Goldman Sachs International | 11/26/18 | $ | 0.0333 | $ | 110 | $ | — | $ | — | $ | — | ||||||||||||||
Gold (a) | JPMorgan Chase | 7/9/19 | 0.0324 | 83 | — | — | — | |||||||||||||||||||
London Metal Exchange Palladium (a) | Goldman Sachs International | 1/23/18 | 0.0767 | 18 | — | — | — | |||||||||||||||||||
S&P GSCI Grains Index (a) | Goldman Sachs International | 8/2/18 | 0.0371 | 380 | — | — | — | |||||||||||||||||||
Silver (a) | Goldman Sachs International | 7/9/19 | 0.0729 | 56 | — | — | — | |||||||||||||||||||
Silver (a) | Goldman Sachs International | 1/23/18 | 0.0361 | 26 | — | — | — | |||||||||||||||||||
Silver (a) | JPMorgan Chase | 11/1/18 | 0.0534 | 87 | — | — | — | |||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | — | $ | — | $ | — | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Total upfront premiums paid | $ | — | ||||||||||||||||||||||||
Total upfront premiums received | — | |||||||||||||||||||||||||
Total unrealized appreciation | — | |||||||||||||||||||||||||
Total unrealized depreciation | — | |||||||||||||||||||||||||
|
| |||||||||||||||||||||||||
Total value | $ | — | ||||||||||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | All or a portion of these investments are held by the wholly-owned subsidiaries of the Portfolio. See Note 2.O. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
73
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
(b) | The following table represents the individual positions within the commodity swap as of December 31, 2017: |
Referenced Commodity – Long Futures Contracts | % of Index | Notional Amount (000) | ||||||
Brent Crude July Futures | 6.7 | % | $ | 11 | ||||
Brent Crude March Futures | 8.0 | 13 | ||||||
Cocoa March Futures | 0.7 | 1 | ||||||
Coffee ‘C’ March Futures | 0.4 | 1 | ||||||
Copper March Futures | 2.2 | 4 | ||||||
Copper May Futures | 5.2 | 9 | ||||||
Corn March Futures | 1.6 | 3 | ||||||
Cotton No.2 March Futures | 0.9 | 2 | ||||||
Cotton No.2 May Futures | 3.3 | 6 | ||||||
Gasoline March Futures | 6.3 | 11 | ||||||
Gasoline May Futures | 4.8 | 8 | ||||||
Gold 100 Oz February Futures | 0.6 | 1 | ||||||
Lean Hogs June Futures | 0.9 | 2 | ||||||
Live Cattle February Futures | 0.3 | 1 | ||||||
Live Cattle June Futures | 2.4 | 4 | ||||||
LME Lead May Futures | 0.6 | 1 | ||||||
LME Nickel March Futures | 7.1 | 11 | ||||||
LME Nickel May Futures | 1.7 | 3 | ||||||
LME Primary Aluminum March Futures | 3.1 | 5 | ||||||
LME Primary Aluminum May Futures | 3.2 | 5 | ||||||
LME Zinc March Futures | 2.5 | 4 | ||||||
LME Zinc May Futures | 4.6 | 8 | ||||||
Gasoil March Futures | 0.4 | 1 | ||||||
Gasoil May Futures | 2.9 | 5 | ||||||
Heating Oil Mar Futures | 2.3 | 4 | ||||||
Heating Oil May Futures | 4.8 | 8 | ||||||
Platinum April Futures | 3.2 | 5 | ||||||
Silver March Futures | 3.0 | 5 | ||||||
Soybean March Futures | 0.4 | 1 | ||||||
Soybean Meal March Futures | 0.2 | - | ||||||
Soybean Oil March Futures | 0.4 | 1 | ||||||
Sugar #11 (World) March Futures | 0.4 | 1 | ||||||
WTI Crude March Futures | 6.8 | 11 | ||||||
WTI Crude May Futures | 6.2 | 11 | ||||||
Cash | 1.9 | 3 | ||||||
|
| |||||||
$ | 170 | |||||||
|
|
See accompanying notes to financial statements.
74
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 98.04% | ||||||||
Australia — 4.06% | ||||||||
20,124 | AMP Ltd. (Diversified Financial Services) | $ | 81 | |||||
14,920 | APA Group (Gas Utilities) | 97 | ||||||
46,514 | Aurizon Holdings Ltd. (Road & Rail) | 179 | ||||||
24,407 | AusNet Services (Electric Utilities) | 34 | ||||||
31,137 | Australia & New Zealand Banking Group Ltd. (Banks) | 695 | ||||||
4,897 | Bendigo & Adelaide Bank Ltd. (Banks) | 44 | ||||||
15,268 | Coca-Cola Amatil Ltd. (Beverages) | 101 | ||||||
18,338 | Commonwealth Bank of Australia (Banks) | 1,143 | ||||||
10,913 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 111 | �� | |||||
13,511 | Dexus Property Group (Equity Real Estate Investment Trusts) | 103 | ||||||
24,311 | GPT Group (Equity Real Estate Investment Trusts) | 97 | ||||||
14,680 | Harvey Norman Holdings Ltd. (Multiline Retail) | 48 | ||||||
24,788 | Insurance Australia Group Ltd. (Insurance) | 140 | ||||||
2,235 | Macquarie Group Ltd. (Capital Markets) | 173 | ||||||
51,024 | Mirvac Group (Equity Real Estate Investment Trusts) | 93 | ||||||
27,839 | National Australia Bank Ltd. (Banks) | 639 | ||||||
14,447 | QBE Insurance Group Ltd. (Insurance) | 120 | ||||||
73,220 | Scentre Group (Equity Real Estate Investment Trusts) | 239 | ||||||
33,002 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 115 | ||||||
13,300 | Suncorp Group Ltd. (Insurance) | 143 | ||||||
30,284 | Sydney Airport (Transportation Infrastructure) | 166 | ||||||
52,496 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 227 | ||||||
63,896 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 181 | ||||||
46,380 | Vicinity Centres (Equity Real Estate Investment Trusts) | 98 | ||||||
18,765 | Wesfarmers Ltd. (Food & Staples Retailing) | 649 | ||||||
34,984 | Westpac Banking Corp. (Banks) | 851 | ||||||
|
| |||||||
6,567 | ||||||||
|
| |||||||
Austria — 0.09% | ||||||||
424 | ANDRITZ AG (Machinery) | 24 | ||||||
590 | Erste Group Bank AG (Banks) | 26 | ||||||
812 | OMV AG (Oil, Gas & Consumable Fuels) | 50 | ||||||
662 | Voestalpine AG (Metals & Mining) | 40 | ||||||
|
| |||||||
140 | ||||||||
|
| |||||||
Belgium — 0.54% | ||||||||
6,363 | Anheuser-Busch InBev N.V. (Beverages) | 710 | ||||||
1,067 | Belgacom SA (Diversified Telecommunication Services) | 35 | ||||||
329 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 35 | ||||||
1,029 | KBC Groep N.V. (Banks) | 88 | ||||||
|
| |||||||
868 | ||||||||
|
| |||||||
Bermuda — 0.07% | ||||||||
2,356 | IHS Markit Ltd. (Professional Services) (a) | 106 | ||||||
|
| |||||||
Curaçao — 0.50% | ||||||||
12,005 | Schlumberger Ltd. (Energy Equipment & Services) | 809 | ||||||
|
|
Shares | Security Description | Value (000) | ||||||
Denmark — 1.19% | ||||||||
3,277 | ISS A/S (Commercial Services & Supplies) | $ | 127 | |||||
27,509 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 1,478 | ||||||
9,583 | TDC A/S (Diversified Telecommunication Services) | 59 | ||||||
795 | Tryg A/S (Insurance) | 20 | ||||||
3,455 | Vestas Wind Systems A/S (Electrical Equipment) | 239 | ||||||
|
| |||||||
1,923 | ||||||||
|
| |||||||
Finland — 0.45% | ||||||||
3,836 | Elisa Oyj (Diversified Telecommunication Services) | 150 | ||||||
15,780 | Fortum Oyj (Electric Utilities) | 313 | ||||||
5,690 | Nokian Renkaat Oyj (Auto Components) | 258 | ||||||
|
| |||||||
721 | ||||||||
|
| |||||||
France — 4.96% | ||||||||
15,698 | AXA SA (Insurance) | 465 | ||||||
8,941 | BNP Paribas (Banks) | 665 | ||||||
4,466 | Bouygues SA (Construction & Engineering) | 232 | ||||||
11,683 | Carrefour SA (Food & Staples Retailing) | 252 | ||||||
1,183 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 72 | ||||||
1,443 | CNP Assurances (Insurance) | 33 | ||||||
9,300 | Credit Agricole SA (Banks) | 154 | ||||||
18,641 | ENGIE (Multi-Utilities) | 320 | ||||||
3,676 | Eutelsat Communications (Media) | 85 | ||||||
349 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 40 | ||||||
492 | Gecina SA (Equity Real Estate Investment Trusts) | 91 | ||||||
420 | Icade (Equity Real Estate Investment Trusts) | 41 | ||||||
2,377 | Klepierre (Equity Real Estate Investment Trusts) | 104 | ||||||
2,457 | Lagardere SCA (Media) | 79 | ||||||
7,691 | Natixism SA (Banks) | 61 | ||||||
20,973 | Orange (Diversified Telecommunication Services) | 363 | ||||||
4,141 | Publicis Groupe (Media) | 280 | ||||||
15,281 | Sanofi-Aventis (Pharmaceuticals) | 1,315 | ||||||
11,148 | Schneider Electric SA (Electrical Equipment) | 945 | ||||||
593 | Societe BIC SA (Commercial Services & Supplies) | 65 | ||||||
6,425 | Societe Generale (Banks) | 331 | ||||||
4,001 | Suez Environnement Co. (Multi-Utilities) | 70 | ||||||
28,088 | Total SA (Oil, Gas & Consumable Fuels) | 1,551 | ||||||
1,068 | Unibail-Rodamco SE (Equity Real Estate Investment Trusts) | 269 | ||||||
5,010 | Veolia Environnement (Multi-Utilities) | 128 | ||||||
|
| |||||||
8,011 | ||||||||
|
| |||||||
Germany — 4.61% | ||||||||
2,417 | Allianz SE (Insurance) | 553 | ||||||
681 | Axel Springer AG (Media) | 53 | ||||||
9,882 | BASF SE (Chemicals) | 1,083 | ||||||
4,813 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 499 | ||||||
12,927 | Daimler AG, Registered Shares (Automobiles) | 1,092 | ||||||
667 | Deutsche Boerse AG (Capital Markets) | 77 | ||||||
13,714 | Deutsche Post AG (Air Freight & Logistics) | 652 | ||||||
23,228 | Deutsche Telekom AG (Diversified Telecommunication Services) | 411 |
See accompanying notes to financial statements.
75
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Germany (continued) | ||||||||
2,352 | Evonik Industries AG (Chemicals) | $ | 88 | |||||
890 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 76 | ||||||
968 | Innogy SE (Multi-Utilities) | 38 | ||||||
516 | MAN SE (Machinery) | 59 | ||||||
2,545 | Metro AG (Food & Staples Retailing) (a) | 51 | ||||||
837 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 181 | ||||||
3,639 | ProSiebenSat.1 Media AG (Media) | 125 | ||||||
9,189 | SAP SE (Software) | 1,027 | ||||||
7,189 | Siemens AG (Industrial Conglomerates) | 995 | ||||||
5,214 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 26 | ||||||
9,156 | TUI AG (Hotels, Restaurants & Leisure) | 190 | ||||||
3,403 | Vonovia SE (Real Estate Management & Development) | 169 | ||||||
|
| |||||||
7,445 | ||||||||
|
| |||||||
Hong Kong — 1.88% | ||||||||
61,000 | BOC Hong Kong (Holdings) Ltd. (Banks) | 308 | ||||||
22,500 | CLP Holdings Ltd. (Electric Utilities) | 230 | ||||||
57,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 139 | ||||||
11,200 | Hang Seng Bank Ltd. (Banks) | 278 | ||||||
27,760 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 183 | ||||||
55,267 | HK Electric Investments Ltd. (Electric Utilities) | 51 | ||||||
80,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 102 | ||||||
15,000 | Hysan Development Co. (Real Estate Management & Development) | 80 | ||||||
296,000 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 162 | ||||||
1,637 | Michael Kors Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | 103 | ||||||
109,000 | PCCW Ltd. (Diversified Telecommunication Services) | 63 | ||||||
29,000 | Power Assets Holdings Ltd. (Electric Utilities) | 244 | ||||||
29,000 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 483 | ||||||
19,500 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 180 | ||||||
17,400 | Swire Properties Ltd. (Real Estate Management & Development) | 56 | ||||||
40,000 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 370 | ||||||
|
| |||||||
3,032 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.19% | ||||||||
6,616 | CRH PLC (Construction Materials) | 239 | ||||||
567 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 67 | ||||||
|
| |||||||
306 | ||||||||
|
| |||||||
Israel — 0.33% | ||||||||
14,740 | Bank Hapoalim Ltd. (Banks) | 108 | ||||||
490 | Elbit Systems Ltd. (Aerospace & Defense) | 66 | ||||||
88,520 | Israel Chemicals Ltd. (Chemicals) | 359 | ||||||
|
| |||||||
533 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Italy — 0.84% | ||||||||
6,052 | Assicurazioni Generali SpA (Insurance) | $ | 110 | |||||
5,551 | Atlantia SpA (Transportation Infrastructure) | 175 | ||||||
34,859 | Eni SpA (Oil, Gas & Consumable Fuels) | 577 | ||||||
64,405 | Intesa Sanpaolo SpA (Banks) | 214 | ||||||
5,802 | Intesa Sanpaolo SpA (Banks) | 18 | ||||||
32,056 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 157 | ||||||
43,723 | Telecom Italia SpA (Diversified Telecommunication Services) | 31 | ||||||
9,651 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 56 | ||||||
6,937 | UnipolSai SpA (Insurance) | 16 | ||||||
|
| |||||||
1,354 | ||||||||
|
| |||||||
Japan — 13.92% | ||||||||
400 | AEON Credit Service Co. Ltd. (Consumer Finance) | 9 | ||||||
3,300 | Aisin Seiki Co. Ltd. (Auto Components) | 185 | ||||||
6,700 | Amada Holdings Co. Ltd. (Machinery) | 91 | ||||||
4,100 | Asahi Glass Co. Ltd. (Building Products) | 177 | ||||||
42,700 | Astellas Pharma, Inc. (Pharmaceuticals) | 543 | ||||||
1,300 | Benesse Holdings, Inc. (Diversified Consumer Services) | 46 | ||||||
12,900 | Bridgestone Corp. (Auto Components) | 597 | ||||||
19,900 | �� | Canon, Inc. (Technology Hardware, Storage & Peripherals) | 743 | |||||
4,500 | Casio Computer Co. Ltd. (Household Durables) | 65 | ||||||
5,100 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 114 | ||||||
5,100 | Daicel Corp. (Chemicals) | 58 | ||||||
10,600 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 276 | ||||||
5,500 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 211 | ||||||
9,000 | Daiwa Securities Group, Inc. (Capital Markets) | 56 | ||||||
9,600 | Denso Corp. (Auto Components) | 575 | ||||||
5,000 | Eisai Co. Ltd. (Pharmaceuticals) | 284 | ||||||
1,300 | Electric Power Development Co. Ltd. (Independent Power & Renewable Electricity Producers) | 35 | ||||||
12,400 | Fuji Heavy Industries Ltd. (Automobiles) | 393 | ||||||
35,000 | Fujitsu Ltd. (IT Services) | 248 | ||||||
4,700 | Hino Motors Ltd. (Machinery) | 61 | ||||||
1,900 | Hitachi Chemical Co. Ltd. (Chemicals) | 49 | ||||||
91,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 706 | ||||||
31,600 | Honda Motor Co. Ltd. (Automobiles) | 1,079 | ||||||
29,800 | ITOCHU Corp. (Trading Companies & Distributors) | 556 | ||||||
2,400 | Japan Exchange Group, Inc. (Capital Markets) | 42 | ||||||
25 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 46 | ||||||
20,400 | Japan Tobacco, Inc. (Tobacco) | 657 | ||||||
3,800 | JSR Corp. (Chemicals) | 75 | ||||||
63,450 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 408 | ||||||
17,000 | Kajima Corp. (Construction & Engineering) | 164 | ||||||
6,000 | Kaneka Corp. (Chemicals) | 55 | ||||||
18,100 | KDDI Corp. (Wireless Telecommunication Services) | 450 | ||||||
18,500 | Komatsu Ltd. (Machinery) | 668 |
See accompanying notes to financial statements.
76
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
8,800 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | $ | 84 | |||||
7,200 | Kuraray Co. Ltd. (Chemicals) | 136 | ||||||
6,400 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 418 | ||||||
1,200 | Lawson, Inc. (Food & Staples Retailing) | 80 | ||||||
4,200 | Marui Group Co. Ltd. (Multiline Retail) | 77 | ||||||
6,800 | Mebuki Financial Group, Inc. (Banks) | 29 | ||||||
25,600 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 279 | ||||||
29,600 | Mitsubishi Corp. (Trading Companies & Distributors) | 815 | ||||||
6,400 | Mitsubishi Heavy Industries Ltd. (Machinery) | 239 | ||||||
4,100 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 85 | ||||||
1,700 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 10 | ||||||
32,800 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 532 | ||||||
3,400 | Mitsui Chemicals, Inc. (Chemicals) | 109 | ||||||
181,300 | Mizuho Financial Group, Inc. (Banks) | 328 | ||||||
3,600 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 121 | ||||||
4,800 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 129 | ||||||
1,700 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 65 | ||||||
19 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 40 | ||||||
13,600 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 348 | ||||||
6,600 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 310 | ||||||
1,200 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 27 | ||||||
2,500 | Nomura Research Institute Ltd. (IT Services) | 116 | ||||||
13,800 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 326 | ||||||
12,600 | Obayashi Corp. (Construction & Engineering) | 152 | ||||||
3,800 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 226 | ||||||
6,200 | ORIX Corp. (Diversified Financial Services) | 105 | ||||||
3,500 | Osaka Gas Co. Ltd. (Gas Utilities) | 67 | ||||||
1,000 | OTSUKA Corp. (IT Services) | 77 | ||||||
8,000 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 351 | ||||||
2,100 | Park24 Co. Ltd. (Commercial Services & Supplies) | 50 | ||||||
15,700 | Resona Holdings, Inc. (Banks) | 94 | ||||||
900 | Sankyo Co. Ltd. (Leisure Products) | 28 | ||||||
3,500 | Sega Sammy Holdings, Inc. (Leisure Products) | 44 | ||||||
5,365 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 126 | ||||||
11,700 | Sekisui House Ltd. (Household Durables) | 211 | ||||||
13,700 | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | 567 | ||||||
3,800 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 51 | ||||||
2,400 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 93 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
33,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | $ | 236 | |||||
22,700 | Sumitomo Corp. (Trading Companies & Distributors) | 385 | ||||||
9,900 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 426 | ||||||
2,500 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 99 | ||||||
3,400 | Sumitomo Rubber Industries Ltd. (Auto Components) | 63 | ||||||
4,100 | T&D Holdings, Inc. (Insurance) | 70 | ||||||
14,700 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 831 | ||||||
3,900 | Teijin Ltd. (Chemicals) | 87 | ||||||
6,000 | The Chiba Bank Ltd. (Banks) | 50 | ||||||
2,500 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | 27 | ||||||
7,800 | The Dai-ichi Life Insurance Co. Ltd. (Insurance) | 160 | ||||||
5,000 | The Shizuoka Bank Ltd. (Banks) | 51 | ||||||
5,100 | Tokio Marine Holdings, Inc. (Insurance) | 232 | ||||||
3,400 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 613 | ||||||
3,700 | Tokyo Gas Co. Ltd. (Gas Utilities) | 85 | ||||||
1,400 | Toyoda Gosei Co. Ltd. (Auto Components) | 36 | ||||||
24,600 | Toyota Motor Corp. (Automobiles) | 1,567 | ||||||
4,200 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 169 | ||||||
3,900 | USS Co. Ltd. (Specialty Retail) | 83 | ||||||
2,900 | West Japan Railway Co. (Road & Rail) | 212 | ||||||
11,500 | Yamada Denki Co. Ltd. (Specialty Retail) | 63 | ||||||
5,900 | Yamaha Motor Co. Ltd. (Automobiles) | 193 | ||||||
4,400 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 84 | ||||||
|
| |||||||
22,489 | ||||||||
|
| |||||||
Jersey — 0.34% | ||||||||
30,554 | WPP PLC (Media) | 552 | ||||||
|
| |||||||
Luxembourg — 0.10% | ||||||||
707 | Millicom International Cellular SA (Wireless Telecommunication Services) | 48 | ||||||
7,089 | SES – FDR, Class – A (Media) | 110 | ||||||
|
| |||||||
158 | ||||||||
|
| |||||||
Netherlands — 1.33% | ||||||||
1,683 | ABN AMRO Group N.V. (Banks) | 54 | ||||||
6,737 | AEGON N.V. (Insurance) | 43 | ||||||
315 | Franks International N.V. (Energy Equipment & Services) | 2 | ||||||
15,267 | ING Groep N.V. (Banks) | 280 | ||||||
17,547 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 61 | ||||||
13,123 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 288 | ||||||
951 | Koninklijke Boskalis Westminster N.V. (Construction & Engineering) | 36 | ||||||
1,895 | Koninklijke DSM N.V. (Chemicals) | 181 | ||||||
9,917 | Koninklijke Philips Electronics N.V. (Industrial Conglomerates) | 375 | ||||||
721 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 32 | ||||||
1,217 | NN Group N.V. (Insurance) | 52 | ||||||
1,226 | Randstad Holding N.V. (Professional Services) | 75 |
See accompanying notes to financial statements.
77
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Netherlands (continued) | ||||||||
12,026 | Unilever N.V. (Personal Products) | $ | 678 | |||||
|
| |||||||
2,157 | ||||||||
|
| |||||||
New Zealand — 0.14% | ||||||||
20,139 | Fletcher Building Ltd. (Construction Materials) | 109 | ||||||
14,921 | Meridian Energy Ltd. (Independent Power & Renewable Electricity Producers) | 31 | ||||||
36,316 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 93 | ||||||
|
| |||||||
233 | ||||||||
|
| |||||||
Norway — 0.42% | ||||||||
1,312 | Gjensidige Forsikring ASA (Insurance) | 25 | ||||||
6,570 | Marine Harvest ASA (Food Products) | 111 | ||||||
19,383 | Statoil ASA (Oil, Gas & Consumable Fuels) | 415 | ||||||
5,974 | Telenor ASA (Diversified Telecommunication Services) | 128 | ||||||
|
| |||||||
679 | ||||||||
|
| |||||||
Portugal — 0.13% | ||||||||
60,157 | EDP – Energias de Portugal SA (Electric Utilities) | 208 | ||||||
|
| |||||||
Singapore — 0.93% | ||||||||
51,800 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 105 | ||||||
46,500 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 67 | ||||||
53,600 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 85 | ||||||
47,000 | Oversea-Chinese Banking Corp. Ltd. (Banks) | 434 | ||||||
24,700 | SATS Ltd. (Transportation Infrastructure) | 96 | ||||||
8,400 | Singapore Exchange Ltd. (Capital Markets) | 47 | ||||||
51,800 | Singapore Press Holdings Ltd. (Media) | 103 | ||||||
41,500 | Singapore Tech Engineering (Aerospace & Defense) | 101 | ||||||
172,100 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 459 | ||||||
|
| |||||||
1,497 | ||||||||
|
| |||||||
Spain — 1.42% | ||||||||
13,213 | Abertis Infraestructuras SA (Transportation Infrastructure) | 294 | ||||||
47,532 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 404 | ||||||
6,715 | Corporacion Mapfre (Insurance) | 22 | ||||||
4,219 | Enagas (Oil, Gas & Consumable Fuels) | 121 | ||||||
3,003 | Endesa (Electric Utilities) | 64 | ||||||
3,232 | Gas Natural SDG SA (Gas Utilities) | 75 | ||||||
52,743 | Iberdrola SA (Electric Utilities) | 407 | ||||||
4,042 | Red Electrica Corp. (Electric Utilities) | 91 | ||||||
23,058 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 407 | ||||||
42,767 | Telefonica SA (Diversified Telecommunication Services) | 416 | ||||||
|
| |||||||
2,301 | ||||||||
|
| |||||||
Sweden — 1.52% | ||||||||
20,674 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 428 | ||||||
4,463 | Hexagon AB (Electronic Equipment, Instruments & Components) | 224 | ||||||
1,786 | ICA Gruppen AB (Food & Staples Retailing) | 65 | ||||||
27,489 | Nordea Bank AB (Banks) | 333 |
Shares | Security Description | Value (000) | ||||||
Sweden (continued) | ||||||||
14,132 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | $ | 166 | |||||
7,513 | Skanska AB, B Shares (Construction & Engineering) | 156 | ||||||
13,388 | Svenska Handelsbanken AB, A Shares (Banks) | 183 | ||||||
8,246 | Swedbank AB, A Shares (Banks) | 199 | ||||||
4,333 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 53 | ||||||
78,200 | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | 516 | ||||||
30,769 | TeliaSonera AB (Diversified Telecommunication Services) | 137 | ||||||
|
| |||||||
2,460 | ||||||||
|
| |||||||
Switzerland — 5.22% | ||||||||
52,561 | ABB Ltd., Registered Shares (Electrical Equipment) | 1,408 | ||||||
4,490 | Adecco SA, Registered Shares (Professional Services) | 343 | ||||||
1,072 | Garmin Ltd. (Household Durables) | 64 | ||||||
1,490 | Kuehne & Nagel International Ltd. (Marine) | 264 | ||||||
13,156 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 741 | ||||||
21,571 | Novartis AG, Registered Shares (Pharmaceuticals) | 1,816 | ||||||
7,312 | Roche Holding AG (Pharmaceuticals) | 1,849 | ||||||
153 | SGS SA, Registered Shares (Professional Services) | 399 | ||||||
1,003 | Swiss Prime Site AG (Real Estate Management & Development) | 93 | ||||||
3,360 | Swiss Re AG (Insurance) | 314 | ||||||
359 | Swisscom AG (Diversified Telecommunication Services) | 191 | ||||||
25,429 | UBS Group AG (Capital Markets) | 467 | ||||||
1,596 | Zurich Financial Services AG (Insurance) | 486 | ||||||
|
| |||||||
8,435 | ||||||||
|
| |||||||
United Kingdom — 10.11% | ||||||||
2,564 | Aon PLC (Insurance) | 343 | ||||||
23,343 | AstraZeneca PLC (Pharmaceuticals) | 1,610 | ||||||
37,369 | Aviva PLC (Insurance) | 255 | ||||||
6,024 | Babcock International Group PLC (Commercial Services & Supplies) | 57 | ||||||
74,862 | BAE Systems PLC (Aerospace & Defense) | 578 | ||||||
24,819 | Barratt Developments PLC (Household Durables) | 216 | ||||||
55,028 | BHP Billiton PLC (Metals & Mining) | 1,112 | ||||||
4,085 | British American Tobacco PLC, ADR (Tobacco) | 274 | ||||||
12,138 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 113 | ||||||
101,619 | BT Group PLC (Diversified Telecommunication Services) | 373 | ||||||
15,752 | Capita PLC (Professional Services) | 85 | ||||||
66,666 | Centrica PLC (Multi-Utilities) | 124 | ||||||
12,596 | Direct Line Insurance Group PLC (Insurance) | 65 | ||||||
3,838 | easyJet PLC (Airlines) | 76 | ||||||
96,386 | GlaxoSmithKline PLC (Pharmaceuticals) | 1,706 | ||||||
9,859 | Hammerson PLC (Equity Real Estate Investment Trusts) | 73 | ||||||
22,345 | Imperial Tobacco Group PLC (Tobacco) | 953 |
See accompanying notes to financial statements.
78
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
3,972 | Investec PLC (Capital Markets) | $ | 29 | |||||
95,494 | ITV PLC (Media) | 213 | ||||||
39,455 | J Sainsbury PLC (Food & Staples Retailing) | 128 | ||||||
9,121 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 124 | ||||||
55,232 | Legal & General Group PLC (Insurance) | 203 | ||||||
38,699 | Marks & Spencer Group PLC (Multiline Retail) | 164 | ||||||
42,275 | National Grid PLC (Multi-Utilities) | 498 | ||||||
3,519 | Next PLC (Multiline Retail) | 215 | ||||||
20,571 | Pearson PLC (Media) | 204 | ||||||
7,595 | Persimmon PLC (Household Durables) | 281 | ||||||
35,373 | Rio Tinto PLC (Metals & Mining) | 1,856 | ||||||
33,907 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 1,132 | ||||||
31,252 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 1,052 | ||||||
21,270 | Royal Mail PLC (Air Freight & Logistics) | 130 | ||||||
2,908 | Severn Trent PLC (Water Utilities) | 85 | ||||||
12,409 | SSE PLC (Electric Utilities) | 221 | ||||||
20,160 | Standard Life PLC (Insurance) | 119 | ||||||
79,986 | Taylor Wimpey PLC (Household Durables) | 223 | ||||||
2,092 | TechnipFMC PLC (Energy Equipment & Services) | 66 | ||||||
3,142 | The Berkeley Group Holdings PLC (Household Durables) | 178 | ||||||
8,283 | United Utilities Group PLC (Water Utilities) | 92 | ||||||
353,429 | Vodafone Group PLC (Wireless Telecommunication Services) | 1,117 | ||||||
|
| |||||||
16,343 | ||||||||
|
| |||||||
United States — 42.75% | ||||||||
5,997 | 3M Co. (Industrial Conglomerates) | 1,411 | ||||||
1,068 | Aaron’s, Inc. (Specialty Retail) | 43 | ||||||
5,941 | Accenture PLC, Class – A (IT Services) | 910 | ||||||
686 | Advance Auto Parts, Inc. (Specialty Retail) | 68 | ||||||
1,957 | Air Products & Chemicals, Inc. (Chemicals) | 321 | ||||||
1,678 | Akamai Technologies, Inc. (Internet Software & Services) (a) | 109 | ||||||
774 | Align Technology, Inc. (Health Care Equipment & Supplies) (a) | 172 | ||||||
1,856 | Alphabet, Inc., Class – A (Internet Software & Services) (a) | 1,956 | ||||||
4,517 | American Electric Power, Inc. (Electric Utilities) | 332 | ||||||
7,192 | Amgen, Inc. (Biotechnology) | 1,251 | ||||||
2,820 | Amphenol Corp., Class – A (Electronic Equipment, Instruments & Components) | 248 | ||||||
3,387 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 302 | ||||||
853 | ANSYS, Inc. (Software) (a) | 126 | ||||||
2,466 | Anthem, Inc. (Health Care Providers & Services) | 555 | ||||||
11,806 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 1,998 | ||||||
1,607 | Aqua America, Inc. (Water Utilities) | 63 | ||||||
303 | Arista Networks, Inc. (Communications Equipment) (a) | 71 | ||||||
2,142 | Autodesk, Inc. (Software) (a) | 225 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
4,470 | Automatic Data Processing, Inc. (IT Services) | $ | 524 | |||||
283 | AutoZone, Inc. (Specialty Retail) (a) | 201 | ||||||
1,971 | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | 422 | ||||||
1,545 | Bed Bath & Beyond, Inc. (Specialty Retail) | 34 | ||||||
881 | Bemis Company, Inc. (Containers & Packaging) | 42 | ||||||
2,859 | Best Buy Co., Inc. (Specialty Retail) | 196 | ||||||
439 | Bio-Techne Corp. (Life Sciences Tools & Services) | 57 | ||||||
1,152 | Broadridge Financial Solutions, Inc. (IT Services) | 104 | ||||||
1,054 | Brown & Brown, Inc. (Insurance) | 54 | ||||||
1,380 | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | 123 | ||||||
1,645 | Campbell Soup Co. (Food Products) | 79 | ||||||
3,013 | Cardinal Health, Inc. (Health Care Providers & Services) | 185 | ||||||
588 | Carlisle Companies, Inc. (Industrial Conglomerates) | 67 | ||||||
473 | Carter’s, Inc. (Textiles, Apparel & Luxury Goods) | 56 | ||||||
1,513 | CDK Global, Inc. (Software) | 108 | ||||||
2,831 | Cerner Corp. (Health Care Technology) (a) | 191 | ||||||
292 | Chipotle Mexican Grill, Inc. (Hotels, Restaurants & Leisure) (a) | 84 | ||||||
343 | Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | 27 | ||||||
864 | Cintas Corp. (Commercial Services & Supplies) | 134 | ||||||
46,854 | Cisco Systems, Inc. (Communications Equipment) | 1,795 | ||||||
2,986 | Citizens Financial Group, Inc. (Banks) | 125 | ||||||
1,513 | Citrix Systems, Inc. (Software) (a) | 133 | ||||||
3,010 | CME Group, Inc. (Capital Markets) | 440 | ||||||
5,768 | Cognizant Technology Solutions Corp. (IT Services) | 410 | ||||||
8,574 | Colgate-Palmolive Co. (Household Products) | 647 | ||||||
861 | Commerce Bancshares, Inc. (Banks) | 48 | ||||||
2,182 | Copart, Inc. (Commercial Services & Supplies) (a) | 94 | ||||||
702 | Crane Co. (Machinery) | 63 | ||||||
9,280 | CSX Corp. (Road & Rail) | 510 | ||||||
856 | Cullen/Frost Bankers, Inc. (Banks) | 81 | ||||||
1,620 | Cummins, Inc. (Machinery) | 287 | ||||||
5,642 | Danaher Corp. (Health Care Equipment & Supplies) | 524 | ||||||
1,663 | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | 120 | ||||||
2,265 | Dentsply Sirona, Inc. (Health Care Equipment & Supplies) | 149 | ||||||
837 | Dick’s Sporting Goods, Inc. (Specialty Retail) | 24 | ||||||
726 | Dolby Laboratories, Inc., Class – A (Electronic Equipment, Instruments & Components) | 45 | ||||||
2,102 | Dollar Tree, Inc. (Multiline Retail) (a) | 226 | ||||||
1,233 | Donaldson Company, Inc. (Machinery) | 60 | ||||||
1,510 | Dover Corp. (Machinery) | 152 | ||||||
1,747 | Dr. Pepper Snapple Group, Inc. (Beverages) | 170 | ||||||
347 | Dril-Quip, Inc. (Energy Equipment & Services) (a) | 17 | ||||||
868 | DST Systems, Inc. (IT Services) | 54 | ||||||
1,068 | Eaton Vance Corp. (Capital Markets) | 60 | ||||||
11,378 | eBay, Inc. (Internet Software & Services) (a) | 429 |
See accompanying notes to financial statements.
79
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
2,399 | Ecolab, Inc. (Chemicals) | $ | 322 | |||||
1,961 | Edwards Lifesciences Corp. (Health Care Equipment & Supplies) (a) | 221 | ||||||
9,282 | Eli Lilly & Co. (Pharmaceuticals) | 784 | ||||||
1,802 | Expeditors International of Washington, Inc. (Air Freight & Logistics) | 117 | ||||||
6,369 | Express Scripts Holding Co. (Health Care Providers & Services) (a) | 475 | ||||||
16,398 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 1,371 | ||||||
690 | F5 Networks, Inc. (Communications Equipment) (a) | 91 | ||||||
380 | FactSet Research Systems, Inc. (Capital Markets) | 73 | ||||||
2,768 | Fastenal Co. (Trading Companies & Distributors) | 152 | ||||||
1,339 | First Republic Bank (Banks) | 116 | ||||||
2,136 | Fiserv, Inc. (IT Services) (a) | 280 | ||||||
870 | FleetCor Technologies, Inc. (IT Services) (a) | 167 | ||||||
1,271 | FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | 59 | ||||||
1,256 | Fluor Corp. (Construction & Engineering) | 65 | ||||||
2,721 | Fortive Corp. (Machinery) | 197 | ||||||
711 | Fossil Group, Inc. (Textiles, Apparel & Luxury Goods) (a) | 6 | ||||||
3,663 | Franklin Resources, Inc. (Capital Markets) | 159 | ||||||
1,268 | GameStop Corp., Class – A (Specialty Retail) | 23 | ||||||
2,154 | Gap, Inc. (Specialty Retail) | 73 | ||||||
2,587 | General Dynamics Corp. (Aerospace & Defense) | 526 | ||||||
5,550 | General Mills, Inc. (Food Products) | 329 | ||||||
1,437 | Genuine Parts Co. (Distributors) | 136 | ||||||
1,167 | Harris Corp. (Communications Equipment) | 165 | ||||||
1,588 | Henry Schein, Inc. (Health Care Providers & Services) (a) | 111 | ||||||
1,379 | Hershey Co. (Food Products) | 157 | ||||||
2,525 | Hormel Foods Corp. (Food Products) | 92 | ||||||
527 | Hubbell, Inc. (Electrical Equipment) | 71 | ||||||
708 | IDEX Corp. (Machinery) | 93 | ||||||
899 | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | 141 | ||||||
41,193 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1,900 | ||||||
8,580 | International Business Machines Corp. (IT Services) | 1,316 | ||||||
761 | International Flavors & Fragrances, Inc. (Chemicals) | 116 | ||||||
2,510 | Intuit, Inc. (Software) | 396 | ||||||
783 | Jack Henry & Associates, Inc. (IT Services) | 92 | ||||||
1,129 | Jacobs Engineering Group, Inc. (Construction & Engineering) | 74 | ||||||
670 | John Wiley & Sons, Inc., Class – A (Media) | 44 | ||||||
12,602 | Johnson & Johnson (Pharmaceuticals) | 1,760 | ||||||
3,418 | Kimberly-Clark Corp. (Household Products) | 412 | ||||||
1,812 | Kohl’s Corp. (Multiline Retail) | 98 | ||||||
775 | L3 Technologies, Inc. (Aerospace & Defense) | 153 | ||||||
951 | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | 152 | ||||||
402 | Landstar System, Inc. (Road & Rail) | 42 | ||||||
681 | Lincoln Electric Holdings, Inc. (Machinery) | 62 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
2,865 | LKQ Corp. (Distributors) (a) | $ | 117 | |||||
2,561 | Lockheed Martin Corp. (Aerospace & Defense) | 822 | ||||||
245 | LogMeln, Inc. (Internet Software & Services) | 28 | ||||||
1,007 | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | 79 | ||||||
427 | Lumentum Holdings, Inc. (Communications Equipment) (a) | 21 | ||||||
5,094 | Marsh & McLennan Companies, Inc. (Insurance) | 415 | ||||||
9,446 | MasterCard, Inc., Class – A (IT Services) | 1,430 | ||||||
1,209 | McCormick & Company, Inc. (Food Products) | 123 | ||||||
9,048 | McDonald’s Corp. (Hotels, Restaurants & Leisure) | 1,558 | ||||||
2,105 | McKesson Corp. (Health Care Providers & Services) | 328 | ||||||
840 | MEDNAX, Inc. (Health Care Providers & Services) (a) | 45 | ||||||
24,197 | Merck & Co., Inc. (Pharmaceuticals) | 1,362 | ||||||
259 | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | 160 | ||||||
24,181 | Microsoft Corp. (Software) | 2,067 | ||||||
184 | Morningstar, Inc. (Capital Markets) | 18 | ||||||
429 | MSC Industrial Direct Co., Inc., Class – A (Trading Companies & Distributors) | 41 | ||||||
761 | National Fuel Gas Co. (Gas Utilities) | 42 | ||||||
1,016 | National Instruments Corp. (Electronic Equipment, Instruments & Components) | 42 | ||||||
3,660 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 131 | ||||||
12,815 | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | 801 | ||||||
1,159 | Nordstrom, Inc. (Multiline Retail) | 55 | ||||||
2,934 | Norfolk Southern Corp. (Road & Rail) | 425 | ||||||
7,231 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 533 | ||||||
1,365 | Oceaneering International, Inc. (Energy Equipment & Services) | 29 | ||||||
630 | Old Dominion Freight Line, Inc. (Road & Rail) | 83 | ||||||
30,012 | Oracle Corp. (Software) | 1,419 | ||||||
781 | Patterson Companies, Inc. (Health Care Providers & Services) | 28 | ||||||
2,967 | Paychex, Inc. (IT Services) | 202 | ||||||
11,373 | PayPal Holdings, Inc. (IT Services) (a) | 837 | ||||||
13,945 | PepsiCo, Inc. (Beverages) | 1,672 | ||||||
5,135 | Phillips 66 (Oil, Gas & Consumable Fuels) | 519 | ||||||
596 | Polaris Industries, Inc. (Leisure Products) | 74 | ||||||
2,657 | Praxair, Inc. (Chemicals) | 411 | ||||||
1,352 | Quest Diagnostics, Inc. (Health Care Providers & Services) | 133 | ||||||
2,862 | Raytheon Co. (Aerospace & Defense) | 538 | ||||||
1,727 | Red Hat, Inc. (Software) (a) | 207 | ||||||
1,325 | ResMed, Inc. (Health Care Equipment & Supplies) | 112 | ||||||
1,218 | Robert Half International, Inc. (Professional Services) | 68 | ||||||
1,249 | Rockwell Collins, Inc. (Aerospace & Defense) | 169 | ||||||
851 | Rollins, Inc. (Commercial Services & Supplies) | 40 | ||||||
954 | Roper Industries, Inc. (Industrial Conglomerates) | 247 | ||||||
3,728 | Ross Stores, Inc. (Specialty Retail) | 299 | ||||||
2,486 | S&P Global, Inc. (Capital Markets) | 421 |
See accompanying notes to financial statements.
80
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
1,347 | SCANA Corp. (Multi-Utilities) | $ | 54 | |||||
827 | Scripps Networks Interactive, Class – A (Media) | 71 | ||||||
541 | Snap-on, Inc. (Machinery) | 94 | ||||||
910 | Sonoco Products Co. (Containers & Packaging) | 48 | ||||||
660 | Spirit Airlines, Inc. (Airlines) (a) | 30 | ||||||
1,382 | Sprouts Farmers Market, Inc. (Food & Staples Retailing) (a) | 34 | ||||||
1,408 | Stanley Black & Decker, Inc. (Machinery) | 240 | ||||||
14,164 | Starbucks Corp. (Hotels, Restaurants & Leisure) | 813 | ||||||
5,459 | Sysco Corp. (Food & Staples Retailing) | 332 | ||||||
2,371 | T. Rowe Price Group, Inc. (Capital Markets) | 249 | ||||||
2,609 | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | 115 | ||||||
2,548 | TD Ameritrade Holding Corp. (Capital Markets) | 130 | ||||||
1,677 | Teradata Corp. (IT Services) (a) | 64 | ||||||
9,858 | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | 1,030 | ||||||
1,202 | The Clorox Co. (Household Products) | 179 | ||||||
31,535 | The Coca-Cola Co. (Beverages) | 1,447 | ||||||
325 | The Dun & Bradstreet Corp. (Professional Services) | 38 | ||||||
1,919 | The Estee Lauder Companies, Inc., Class – A (Personal Products) | 244 | ||||||
1,129 | The J.M. Smucker Co. (Food Products) | 140 | ||||||
5,655 | The Kraft Heinz Co. (Food Products) | 440 | ||||||
9,065 | The Kroger Co. (Food & Staples Retailing) | 249 | ||||||
550 | The Middleby Corp. (Machinery) (a) | 74 | ||||||
17,114 | The Procter & Gamble Co. (Household Products) | 1,573 | ||||||
741 | The Sherwin-Williams Co. (Chemicals) | 304 | ||||||
8,531 | The Southern Co. (Electric Utilities) | 410 | ||||||
14,013 | The Walt Disney Co. (Media) | 1,506 | ||||||
3,760 | Thermo Electron Corp. (Life Sciences Tools & Services) | 715 | ||||||
1,085 | Tiffany & Co. (Specialty Retail) | 113 | ||||||
1,290 | Tractor Supply Co. (Specialty Retail) | 96 | ||||||
2,483 | Trimble Navigation Ltd. (Electronic Equipment, Instruments & Components) (a) | 101 | ||||||
603 | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | 135 | ||||||
1,618 | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods) (a) | 23 | ||||||
1,630 | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | 22 | ||||||
8,316 | Union Pacific Corp. (Road & Rail) | 1,116 | ||||||
7,899 | United Technologies Corp. (Aerospace & Defense) | 1,009 | ||||||
3,089 | V.F. Corp. (Textiles, Apparel & Luxury Goods) | 229 | ||||||
359 | Varex Imaging Corp. (Health Care Equipment & Supplies) (a) | 14 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
951 | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | $ | 106 | |||||
926 | Versum Materials, Inc. (Semiconductors & Semiconductor Equipment) | 35 | ||||||
17,784 | Visa, Inc., Class – A (IT Services) | 2,027 | ||||||
742 | VMware, Inc., Class – A (Software) (a) | 93 | ||||||
587 | W.W. Grainger, Inc. (Trading Companies & Distributors) | 139 | ||||||
872 | Wabtec Corp. (Machinery) | 71 | ||||||
15,014 | Wal-Mart Stores, Inc. (Food & Staples Retailing) | 1,482 | ||||||
783 | Waters Corp. (Life Sciences Tools & Services) (a) | 151 | ||||||
4,879 | Western Union Co. (IT Services) | 93 | ||||||
832 | Williams-Sonoma, Inc. (Specialty Retail) | 43 | ||||||
985 | World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | 28 | ||||||
4,630 | Xcel Energy, Inc. (Electric Utilities) | 223 | ||||||
2,441 | Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | 165 | ||||||
1,728 | Xylem, Inc. (Machinery) | 118 | ||||||
|
| |||||||
69,107 | ||||||||
|
| |||||||
Total Common Stocks | 158,434 | |||||||
|
| |||||||
Preferred Stock — 0.03% | ||||||||
Germany — 0.03% | ||||||||
545 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 49 | ||||||
|
| |||||||
Total Preferred Stock | 49 | |||||||
|
| |||||||
Mutual Funds — 1.51% | ||||||||
8,829 | Altaba, Inc. | 617 | ||||||
52,362 | Dreyfus Treasury Prime Cash Management Fund, 1.11% (b) | 52 | ||||||
1,773,854 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (b) | 1,774 | ||||||
|
| |||||||
Total Mutual Funds | 2,443 | |||||||
|
| |||||||
Total Investments | 160,926 | |||||||
Other assets in excess of | 684 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 161,610 | ||||||
|
|
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
81
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The ESG Growth Portfolio | Cadence Capital Management, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | Total | ||||||||||||
Common Stocks | 54.19 | % | 43.85 | % | — | 98.04 | % | |||||||||
Preferred Stock | 0.03 | % | — | — | 0.03 | % | ||||||||||
Mutual Funds | 0.03 | % | 1.26 | % | 0.22 | % | 1.51 | % | ||||||||
Other Assets (Liabilities) | 0.36 | % | 0.03 | % | 0.03 | % | 0.42 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 54.61 | % | 45.14 | % | 0.25 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
82
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 99.06% | ||||||||
Australia — 4.02% | ||||||||
3,774 | AMP Ltd. (Diversified Financial Services) | $ | 15 | |||||
2,852 | APA Group (Gas Utilities) | 18 | ||||||
8,878 | Aurizon Holdings Ltd. (Road & Rail) | 34 | ||||||
4,666 | AusNet Services (Electric Utilities) | 7 | ||||||
5,948 | Australia & New Zealand Banking Group Ltd. (Banks) | 133 | ||||||
936 | Bendigo & Adelaide Bank Ltd. (Banks) | 8 | ||||||
2,860 | Coca-Cola Amatil Ltd. (Beverages) | 19 | ||||||
3,503 | Commonwealth Bank of Australia (Banks) | 220 | ||||||
2,085 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 21 | ||||||
2,583 | Dexus Property Group (Equity Real Estate Investment Trusts) | 20 | ||||||
4,647 | GPT Group (Equity Real Estate Investment Trusts) | 18 | ||||||
2,880 | Harvey Norman Holdings Ltd. (Multiline Retail) | 9 | ||||||
4,739 | Insurance Australia Group Ltd. (Insurance) | 27 | ||||||
426 | Macquarie Group Ltd. (Capital Markets) | 33 | ||||||
9,755 | Mirvac Group (Equity Real Estate Investment Trusts) | 18 | ||||||
5,322 | National Australia Bank Ltd. (Banks) | 122 | ||||||
2,762 | QBE Insurance Group Ltd. (Insurance) | 23 | ||||||
14,000 | Scentre Group (Equity Real Estate Investment Trusts) | 45 | ||||||
6,309 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 22 | ||||||
2,542 | Suncorp Group Ltd. (Insurance) | 27 | ||||||
5,790 | Sydney Airport (Transportation Infrastructure) | 32 | ||||||
9,502 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 41 | ||||||
11,343 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 32 | ||||||
8,867 | Vicinity Centres (Equity Real Estate Investment Trusts) | 19 | ||||||
3,527 | Wesfarmers Ltd. (Food & Staples Retailing) | 122 | ||||||
6,689 | Westpac Banking Corp. (Banks) | 163 | ||||||
|
| |||||||
1,248 | ||||||||
|
| |||||||
Austria — 0.09% | ||||||||
78 | ANDRITZ AG (Machinery) | 4 | ||||||
109 | Erste Group Bank AG (Banks) | 5 | ||||||
162 | OMV AG (Oil, Gas & Consumable Fuels) | 11 | ||||||
120 | Voestalpine AG (Metals & Mining) | 7 | ||||||
|
| |||||||
27 | ||||||||
|
| |||||||
Belgium — 0.53% | ||||||||
1,192 | Anheuser-Busch InBev N.V. (Beverages) | 134 | ||||||
222 | Belgacom SA (Diversified Telecommunication Services) | 7 | ||||||
46 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 5 | ||||||
227 | KBC Groep N.V. (Banks) | 19 | ||||||
|
| |||||||
165 | ||||||||
|
| |||||||
Bermuda — 0.08% | ||||||||
526 | IHS Markit Ltd. (Professional Services) (a) | 24 | ||||||
|
| |||||||
Cayman Islands — 0.03% | ||||||||
136 | Herbalife Ltd. (Personal Products) (a) | 9 | ||||||
|
|
Shares | Security Description | Value (000) | ||||||
Curaçao — 0.67% | ||||||||
3,069 | Schlumberger Ltd. (Energy Equipment & Services) | $ | 207 | |||||
|
| |||||||
Denmark — 1.18% | ||||||||
2,197 | ISS A/S (Commercial Services & Supplies) | 85 | ||||||
16,512 | TDC A/S (Diversified Telecommunication Services) | 101 | ||||||
1,761 | Tryg A/S (Insurance) | 44 | ||||||
1,979 | Vestas Wind Systems A/S (Electrical Equipment) | 137 | ||||||
|
| |||||||
367 | ||||||||
|
| |||||||
Finland — 0.44% | ||||||||
731 | Elisa Oyj (Diversified Telecommunication Services) | 29 | ||||||
2,992 | Fortum Oyj (Electric Utilities) | 59 | ||||||
1,080 | Nokian Renkaat Oyj (Auto Components) | 49 | ||||||
|
| |||||||
137 | ||||||||
|
| |||||||
France — 4.92% | ||||||||
3,695 | AXA SA (Insurance) | 109 | ||||||
2,114 | BNP Paribas (Banks) | 157 | ||||||
1,097 | Bouygues SA (Construction & Engineering) | 57 | ||||||
2,745 | Carrefour SA (Food & Staples Retailing) | 59 | ||||||
291 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 18 | ||||||
343 | CNP Assurances (Insurance) | 8 | ||||||
2,278 | Credit Agricole SA (Banks) | 38 | ||||||
4,314 | ENGIE (Multi-Utilities) | 74 | ||||||
876 | Eutelsat Communications (Media) | 20 | ||||||
89 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 10 | ||||||
116 | Gecina SA (Equity Real Estate Investment Trusts) | 21 | ||||||
92 | Icade (Equity Real Estate Investment Trusts) | 9 | ||||||
567 | Klepierre (Equity Real Estate Investment Trusts) | 25 | ||||||
500 | Lagardere SCA (Media) | 16 | ||||||
1,819 | Natixism SA (Banks) | 14 | ||||||
5,115 | Orange (Diversified Telecommunication Services) | 89 | ||||||
955 | Publicis Groupe (Media) | 65 | ||||||
2,502 | Schneider Electric SA (Electrical Equipment) | 212 | ||||||
132 | Societe BIC SA (Commercial Services & Supplies) | 15 | ||||||
1,524 | Societe Generale (Banks) | 79 | ||||||
922 | Suez Environnement Co. (Multi-Utilities) | 16 | ||||||
5,747 | Total SA (Oil, Gas & Consumable Fuels) | 317 | ||||||
273 | Unibail-Rodamco SE (Equity Real Estate Investment Trusts) | 69 | ||||||
1,209 | Veolia Environnement (Multi-Utilities) | 31 | ||||||
|
| |||||||
1,528 | ||||||||
|
| |||||||
Germany — 4.38% | ||||||||
477 | Allianz SE (Insurance) | 109 | ||||||
131 | Axel Springer AG (Media) | 10 | ||||||
1,693 | BASF SE (Chemicals) | 186 | ||||||
940 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 97 | ||||||
2,206 | Daimler AG, Registered Shares (Automobiles) | 186 | ||||||
130 | Deutsche Boerse AG (Capital Markets) | 15 | ||||||
2,712 | Deutsche Post AG (Air Freight & Logistics) | 129 | ||||||
4,546 | Deutsche Telekom AG (Diversified Telecommunication Services) | 80 |
See accompanying notes to financial statements.
83
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Germany (continued) | ||||||||
456 | Evonik Industries AG (Chemicals) | $ | 17 | |||||
171 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 15 | ||||||
188 | Innogy SE (Multi-Utilities) | 7 | ||||||
99 | MAN SE (Machinery) | 11 | ||||||
496 | Metro AG (Food & Staples Retailing) (a) | 10 | ||||||
166 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 36 | ||||||
724 | ProSiebenSat.1 Media AG (Media) | 25 | ||||||
1,565 | SAP SE (Software) | 175 | ||||||
1,242 | Siemens AG (Industrial Conglomerates) | 172 | ||||||
1,100 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 6 | ||||||
1,964 | TUI AG (Hotels, Restaurants & Leisure) | 41 | ||||||
659 | Vonovia SE (Real Estate Management & Development) | 33 | ||||||
|
| |||||||
1,360 | ||||||||
|
| |||||||
Hong Kong — 1.90% | ||||||||
14,024 | BOC Hong Kong (Holdings) Ltd. (Banks) | 71 | ||||||
4,540 | CLP Holdings Ltd. (Electric Utilities) | 47 | ||||||
9,043 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 22 | ||||||
2,013 | Hang Seng Bank Ltd. (Banks) | 50 | ||||||
5,730 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 38 | ||||||
12,115 | HK Electric Investments Ltd. (Electric Utilities) | 11 | ||||||
15,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 19 | ||||||
3,000 | Hysan Development Co. (Real Estate Management & Development) | 16 | ||||||
42,836 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 23 | ||||||
406 | Michael Kors Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | 26 | ||||||
14,000 | PCCW Ltd. (Diversified Telecommunication Services) | 8 | ||||||
5,500 | Power Assets Holdings Ltd. (Electric Utilities) | 46 | ||||||
6,000 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 100 | ||||||
3,238 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 30 | ||||||
3,200 | Swire Properties Ltd. (Real Estate Management & Development) | 10 | ||||||
8,000 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 74 | ||||||
|
| |||||||
591 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.19% | ||||||||
1,214 | CRH PLC (Construction Materials) | 44 | ||||||
121 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 14 | ||||||
|
| |||||||
58 | ||||||||
|
| |||||||
Israel — 0.33% | ||||||||
112 | Azrieli Group (Real Estate Management & Development) | 6 | ||||||
2,954 | Bank Hapoalim Ltd. (Banks) | 22 | ||||||
18,235 | Israel Chemicals Ltd. (Chemicals) | 74 | ||||||
|
| |||||||
102 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Italy — 0.82% | ||||||||
1,162 | Assicurazioni Generali SpA (Insurance) | $ | 21 | |||||
1,061 | Atlantia SpA (Transportation Infrastructure) | 33 | ||||||
6,545 | Eni SpA (Oil, Gas & Consumable Fuels) | 108 | ||||||
12,187 | Intesa Sanpaolo SpA (Banks) | 41 | ||||||
1,024 | Intesa Sanpaolo SpA (Banks) | 3 | ||||||
6,065 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 30 | ||||||
8,365 | Telecom Italia SpA (Diversified Telecommunication Services) | 6 | ||||||
1,876 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 11 | ||||||
1,219 | UnipolSai SpA (Insurance) | 3 | ||||||
|
| |||||||
256 | ||||||||
|
| |||||||
Japan — 13.75% | ||||||||
110 | AEON Credit Service Co. Ltd. (Consumer Finance) | 3 | ||||||
700 | Aisin Seiki Co. Ltd. (Auto Components) | 39 | ||||||
1,613 | Amada Holdings Co. Ltd. (Machinery) | 22 | ||||||
807 | Asahi Glass Co. Ltd. (Building Products) | 35 | ||||||
310 | Benesse Holdings, Inc. (Diversified Consumer Services) | 11 | ||||||
2,870 | Bridgestone Corp. (Auto Components) | 133 | ||||||
4,400 | Canon, Inc. (Technology Hardware, Storage & Peripherals) | 164 | ||||||
1,000 | Casio Computer Co. Ltd. (Household Durables) | 14 | ||||||
1,251 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 28 | ||||||
1,100 | Daicel Corp. (Chemicals) | 12 | ||||||
1,210 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 46 | ||||||
2,000 | Daiwa Securities Group, Inc. (Capital Markets) | 12 | ||||||
2,136 | Denso Corp. (Auto Components) | 128 | ||||||
300 | Electric Power Development Co. Ltd. (Independent Power & Renewable Electricity Producers) | 8 | ||||||
2,658 | Fuji Heavy Industries Ltd. (Automobiles) | 84 | ||||||
8,211 | Fujitsu Ltd. (IT Services) | 58 | ||||||
1,000 | Hino Motors Ltd. (Machinery) | 13 | ||||||
400 | Hitachi Chemical Co. Ltd. (Chemicals) | 10 | ||||||
20,788 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 161 | ||||||
7,017 | Honda Motor Co. Ltd. (Automobiles) | 240 | ||||||
6,568 | ITOCHU Corp. (Trading Companies & Distributors) | 122 | ||||||
500 | Japan Exchange Group, Inc. (Capital Markets) | 9 | ||||||
6 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 11 | ||||||
4,500 | Japan Tobacco, Inc. (Tobacco) | 145 | ||||||
814 | JSR Corp. (Chemicals) | 16 | ||||||
14,349 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 93 | ||||||
4,000 | Kajima Corp. (Construction & Engineering) | 38 | ||||||
1,000 | Kaneka Corp. (Chemicals) | 9 | ||||||
3,996 | KDDI Corp. (Wireless Telecommunication Services) | 99 | ||||||
4,035 | Komatsu Ltd. (Machinery) | 146 | ||||||
2,081 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 20 | ||||||
1,528 | Kuraray Co. Ltd. (Chemicals) | 30 | ||||||
1,441 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 94 |
See accompanying notes to financial statements.
84
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The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
300 | Lawson, Inc. (Food & Staples Retailing) | $ | 20 | |||||
910 | Marui Group Co. Ltd. (Multiline Retail) | 17 | ||||||
1,600 | Mebuki Financial Group, Inc. (Banks) | 7 | ||||||
6,517 | Mitsubishi Corp. (Trading Companies & Distributors) | 180 | ||||||
456 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 3 | ||||||
7,325 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 119 | ||||||
700 | Mitsui Chemicals, Inc. (Chemicals) | 22 | ||||||
40,531 | Mizuho Financial Group, Inc. (Banks) | 73 | ||||||
730 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 25 | ||||||
1,030 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 28 | ||||||
402 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 15 | ||||||
4 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 8 | ||||||
3,000 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 77 | ||||||
1,431 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 67 | ||||||
210 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 5 | ||||||
500 | Nomura Research Institute Ltd. (IT Services) | 23 | ||||||
3,066 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 73 | ||||||
2,900 | Obayashi Corp. (Construction & Engineering) | 35 | ||||||
900 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 54 | ||||||
1,461 | ORIX Corp. (Diversified Financial Services) | 24 | ||||||
802 | Osaka Gas Co. Ltd. (Gas Utilities) | 15 | ||||||
300 | OTSUKA Corp. (IT Services) | 23 | ||||||
1,740 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 76 | ||||||
500 | Park24 Co. Ltd. (Commercial Services & Supplies) | 12 | ||||||
3,530 | Resona Holdings, Inc. (Banks) | 21 | ||||||
200 | Sankyo Co. Ltd. (Leisure Products) | 6 | ||||||
800 | Sega Sammy Holdings, Inc. (Leisure Products) | 10 | ||||||
1,245 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 29 | ||||||
2,610 | Sekisui House Ltd. (Household Durables) | 47 | ||||||
3,000 | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | 124 | ||||||
916 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 12 | ||||||
500 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 19 | ||||||
5,077 | Sumitomo Corp. (Trading Companies & Distributors) | 86 | ||||||
2,100 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 90 | ||||||
623 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 25 | ||||||
700 | Sumitomo Rubber Industries Ltd. (Auto Components) | 13 | ||||||
962 | T&D Holdings, Inc. (Insurance) | 16 | ||||||
800 | Teijin Ltd. (Chemicals) | 18 | ||||||
1,055 | The Chiba Bank Ltd. (Banks) | 9 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
600 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | $ | 6 | |||||
1,686 | The Dai-ichi Life Insurance Co. Ltd. (Insurance) | 35 | ||||||
1,020 | The Shizuoka Bank Ltd. (Banks) | 11 | ||||||
1,143 | Tokio Marine Holdings, Inc. (Insurance) | 52 | ||||||
700 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 126 | ||||||
900 | Tokyo Gas Co. Ltd. (Gas Utilities) | 21 | ||||||
300 | Toyoda Gosei Co. Ltd. (Auto Components) | 8 | ||||||
4,780 | Toyota Motor Corp. (Automobiles) | 305 | ||||||
912 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 37 | ||||||
825 | USS Co. Ltd. (Specialty Retail) | 18 | ||||||
2,600 | Yamada Denki Co. Ltd. (Specialty Retail) | 14 | ||||||
1,329 | Yamaha Motor Co. Ltd. (Automobiles) | 44 | ||||||
1,000 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 19 | ||||||
|
| |||||||
4,275 | ||||||||
|
| |||||||
Jersey — 0.48% | ||||||||
8,269 | WPP PLC (Media) | 149 | ||||||
|
| |||||||
Luxembourg — 0.11% | ||||||||
140 | Millicom International Cellular SA (Wireless Telecommunication Services) | 9 | ||||||
1,660 | SES – FDR, Class – A (Media) | 26 | ||||||
|
| |||||||
35 | ||||||||
|
| |||||||
Netherlands — 1.31% | ||||||||
364 | ABN AMRO Group N.V. (Banks) | 12 | ||||||
1,467 | AEGON N.V. (Insurance) | 9 | ||||||
56 | Franks International N.V. (Energy Equipment & Services) | — | ||||||
3,315 | ING Groep N.V. (Banks) | 61 | ||||||
3,826 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 13 | ||||||
2,861 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 63 | ||||||
207 | Koninklijke Boskalis Westminster N.V. (Construction & Engineering) | 8 | ||||||
2,133 | Koninklijke Philips Electronics N.V. (Industrial Conglomerates) | 81 | ||||||
157 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 7 | ||||||
264 | NN Group N.V. (Insurance) | 12 | ||||||
265 | Randstad Holding N.V. (Professional Services) | 16 | ||||||
2,249 | Unilever N.V. (Personal Products) | 126 | ||||||
|
| |||||||
408 | ||||||||
|
| |||||||
New Zealand — 0.14% | ||||||||
3,827 | Fletcher Building Ltd. (Construction Materials) | 20 | ||||||
2,835 | Meridian Energy Ltd. (Independent Power & Renewable Electricity Producers) | 6 | ||||||
6,903 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 18 | ||||||
|
| |||||||
44 | ||||||||
|
| |||||||
Norway — 0.42% | ||||||||
245 | Gjensidige Forsikring ASA (Insurance) | 5 | ||||||
1,239 | Marine Harvest ASA (Food Products) | 21 | ||||||
3,705 | Statoil ASA (Oil, Gas & Consumable Fuels) | 79 | ||||||
1,127 | Telenor ASA (Diversified Telecommunication Services) | 24 | ||||||
|
| |||||||
129 | ||||||||
|
|
See accompanying notes to financial statements.
85
Table of Contents
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The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Portugal — 0.13% | ||||||||
11,356 | EDP – Energias de Portugal SA (Electric Utilities) | $ | 39 | |||||
|
| |||||||
Singapore — 0.91% | ||||||||
10,282 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 21 | ||||||
9,827 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 14 | ||||||
10,575 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 17 | ||||||
9,604 | Oversea-Chinese Banking Corp. Ltd. (Banks) | 89 | ||||||
4,700 | SATS Ltd. (Transportation Infrastructure) | 18 | ||||||
1,800 | Singapore Exchange Ltd. (Capital Markets) | 10 | ||||||
10,643 | Singapore Press Holdings Ltd. (Media) | 21 | ||||||
35,309 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 94 | ||||||
|
| |||||||
284 | ||||||||
|
| |||||||
Spain — 1.41% | ||||||||
2,513 | Abertis Infraestructuras SA (Transportation Infrastructure) | 56 | ||||||
8,921 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 76 | ||||||
1,350 | Corporacion Mapfre (Insurance) | 4 | ||||||
801 | Enagas (Oil, Gas & Consumable Fuels) | 23 | ||||||
567 | Endesa (Electric Utilities) | 12 | ||||||
614 | Gas Natural SDG SA (Gas Utilities) | 14 | ||||||
10,033 | Iberdrola SA (Electric Utilities) | 78 | ||||||
768 | Red Electrica Corp. (Electric Utilities) | 17 | ||||||
4,401 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 78 | ||||||
8,132 | Telefonica SA (Diversified Telecommunication Services) | 79 | ||||||
|
| |||||||
437 | ||||||||
|
| |||||||
Sweden — 1.50% | ||||||||
3,980 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 82 | ||||||
849 | Hexagon AB (Electronic Equipment, Instruments & Components) | 43 | ||||||
343 | ICA Gruppen AB (Food & Staples Retailing) | 12 | ||||||
5,164 | Nordea Bank AB (Banks) | 63 | ||||||
2,634 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 31 | ||||||
1,449 | Skanska AB, B Shares (Construction & Engineering) | 30 | ||||||
2,539 | Svenska Handelsbanken AB, A Shares (Banks) | 35 | ||||||
1,537 | Swedbank AB, A Shares (Banks) | 37 | ||||||
828 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 10 | ||||||
14,416 | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | 95 | ||||||
6,075 | TeliaSonera AB (Diversified Telecommunication Services) | 27 | ||||||
|
| |||||||
465 | ||||||||
|
| |||||||
Switzerland — 5.24% | ||||||||
15,129 | ABB Ltd., Registered Shares (Electrical Equipment) | 405 | ||||||
2,235 | Adecco SA, Registered Shares (Professional Services) | 171 | ||||||
264 | Garmin Ltd. (Household Durables) | 16 | ||||||
390 | Kuehne & Nagel International Ltd. (Marine) | 69 | ||||||
4,342 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 245 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
43 | SGS SA, Registered Shares (Professional Services) | $ | 112 | |||||
329 | Swiss Prime Site AG (Real Estate Management & Development) | 30 | ||||||
1,354 | Swiss Re AG (Insurance) | 127 | ||||||
143 | Swisscom AG (Diversified Telecommunication Services) | 76 | ||||||
10,125 | UBS Group AG (Capital Markets) | 186 | ||||||
633 | Zurich Financial Services AG (Insurance) | 192 | ||||||
|
| |||||||
1,629 | ||||||||
|
| |||||||
United Kingdom — 9.98% | ||||||||
704 | Aon PLC (Insurance) | 94 | ||||||
10,065 | Aviva PLC (Insurance) | 69 | ||||||
6,675 | Barratt Developments PLC (Household Durables) | 58 | ||||||
14,670 | BHP Billiton PLC (Metals & Mining) | 297 | ||||||
969 | British American Tobacco PLC, ADR (Tobacco) | 65 | ||||||
3,246 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 30 | ||||||
27,839 | BT Group PLC (Diversified Telecommunication Services) | 102 | ||||||
4,086 | Capita PLC (Professional Services) | 22 | ||||||
19,144 | Centrica PLC (Multi-Utilities) | 35 | ||||||
3,833 | Direct Line Insurance Group PLC (Insurance) | 20 | ||||||
1,027 | easyJet PLC (Airlines) | 20 | ||||||
2,658 | Hammerson PLC (Equity Real Estate Investment Trusts) | 20 | ||||||
4,386 | Imperial Tobacco Group PLC (Tobacco) | 187 | ||||||
1,071 | Investec PLC (Capital Markets) | 8 | ||||||
33,176 | ITV PLC (Media) | 74 | ||||||
13,784 | J Sainsbury PLC (Food & Staples Retailing) | 45 | ||||||
2,452 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 33 | ||||||
16,843 | Legal & General Group PLC (Insurance) | 62 | ||||||
10,542 | Marks & Spencer Group PLC (Multiline Retail) | 45 | ||||||
11,629 | National Grid PLC (Multi-Utilities) | 138 | ||||||
956 | Next PLC (Multiline Retail) | 58 | ||||||
10,020 | Pearson PLC (Media) | 99 | ||||||
2,670 | Persimmon PLC (Household Durables) | 99 | ||||||
7,379 | Rio Tinto PLC (Metals & Mining) | 386 | ||||||
6,377 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 213 | ||||||
5,901 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 199 | ||||||
8,199 | Royal Mail PLC (Air Freight & Logistics) | 50 | ||||||
787 | Severn Trent PLC (Water Utilities) | 23 | ||||||
3,345 | SSE PLC (Electric Utilities) | 59 | ||||||
8,649 | Standard Life PLC (Insurance) | 51 | ||||||
21,544 | Taylor Wimpey PLC (Household Durables) | 60 | ||||||
509 | TechnipFMC PLC (Energy Equipment & Services) | 16 | ||||||
953 | The Berkeley Group Holdings PLC (Household Durables) | 54 | ||||||
2,233 | United Utilities Group PLC (Water Utilities) | 25 | ||||||
89,949 | Vodafone Group PLC (Wireless Telecommunication Services) | 284 | ||||||
|
| |||||||
3,100 | ||||||||
|
|
See accompanying notes to financial statements.
86
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States — 44.10% | ||||||||
1,508 | 3M Co. (Industrial Conglomerates) | $ | 355 | |||||
133 | Aaron’s, Inc. (Specialty Retail) | 5 | ||||||
1,528 | Accenture PLC, Class – A (IT Services) | 234 | ||||||
151 | Advance Auto Parts, Inc. (Specialty Retail) | 15 | ||||||
533 | Air Products & Chemicals, Inc. (Chemicals) | 87 | ||||||
395 | Akamai Technologies, Inc. (Internet Software & Services) (a) | 26 | ||||||
196 | Align Technology, Inc. (Health Care Equipment & Supplies) (a) | 44 | ||||||
347 | Alphabet, Inc., Class – A (Internet Software & Services) (a) | 365 | ||||||
1,212 | American Electric Power, Inc. (Electric Utilities) | 89 | ||||||
1,732 | Amgen, Inc. (Biotechnology) | 301 | ||||||
720 | Amphenol Corp., Class – A (Electronic Equipment, Instruments & Components) | 62 | ||||||
889 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 79 | ||||||
194 | ANSYS, Inc. (Software) (a) | 29 | ||||||
670 | Anthem, Inc. (Health Care Providers & Services) | 150 | ||||||
2,066 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 350 | ||||||
342 | Aqua America, Inc. (Water Utilities) | 13 | ||||||
68 | Arista Networks, Inc. (Communications Equipment) (a) | 16 | ||||||
374 | Arthur J. Gallagher & Co. (Insurance) | 24 | ||||||
1,176 | Automatic Data Processing, Inc. (IT Services) | 138 | ||||||
82 | AutoZone, Inc. (Specialty Retail) (a) | 58 | ||||||
305 | Avnet, Inc. (Electronic Equipment, Instruments & Components) | 12 | ||||||
85 | Bank of Hawaii Corp. (Banks) | 7 | ||||||
521 | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | 112 | ||||||
388 | Bed Bath & Beyond, Inc. (Specialty Retail) | 9 | ||||||
181 | Bemis Company, Inc. (Containers & Packaging) | 9 | ||||||
729 | Best Buy Co., Inc. (Specialty Retail) | 50 | ||||||
79 | Bio-Techne Corp. (Life Sciences Tools & Services) | 10 | ||||||
79 | Blue Buffalo Pet Products, Inc. (Food Products) (a) | 3 | ||||||
274 | Broadridge Financial Solutions, Inc. (IT Services) | 25 | ||||||
223 | Brown & Brown, Inc. (Insurance) | 11 | ||||||
310 | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | 28 | ||||||
360 | Campbell Soup Co. (Food Products) | 17 | ||||||
791 | Cardinal Health, Inc. (Health Care Providers & Services) | 48 | ||||||
144 | Carlisle Companies, Inc. (Industrial Conglomerates) | 16 | ||||||
101 | Carter’s, Inc. (Textiles, Apparel & Luxury Goods) | 12 | ||||||
353 | CDK Global, Inc. (Software) | 25 | ||||||
696 | Cerner Corp. (Health Care Technology) (a) | 47 | ||||||
65 | Chipotle Mexican Grill, Inc. (Hotels, Restaurants & Leisure) (a) | 19 | ||||||
68 | Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | 5 | ||||||
221 | Cintas Corp. (Commercial Services & Supplies) | 34 | ||||||
9,381 | Cisco Systems, Inc. (Communications Equipment) | 359 | ||||||
697 | Citizens Financial Group, Inc. (Banks) | 29 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
341 | Citrix Systems, Inc. (Software) (a) | $ | 30 | |||||
794 | CME Group, Inc. (Capital Markets) | 116 | ||||||
1,557 | Cognizant Technology Solutions Corp. (IT Services) | 111 | ||||||
2,225 | Colgate-Palmolive Co. (Household Products) | 168 | ||||||
182 | Commerce Bancshares, Inc. (Banks) | 10 | ||||||
554 | Copart, Inc. (Commercial Services & Supplies) (a) | 24 | ||||||
143 | Crane Co. (Machinery) | 13 | ||||||
2,447 | CSX Corp. (Road & Rail) | 135 | ||||||
177 | Cullen/Frost Bankers, Inc. (Banks) | 17 | ||||||
456 | Cummins, Inc. (Machinery) | 80 | ||||||
375 | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | 27 | ||||||
534 | Dentsply Sirona, Inc. (Health Care Equipment & Supplies) | 35 | ||||||
172 | Dick’s Sporting Goods, Inc. (Specialty Retail) | 5 | ||||||
143 | Dolby Laboratories, Inc., Class – A (Electronic Equipment, Instruments & Components) | 9 | ||||||
557 | Dollar Tree, Inc. (Multiline Retail) (a) | 60 | ||||||
260 | Donaldson Company, Inc. (Machinery) | 13 | ||||||
355 | Dover Corp. (Machinery) | 36 | ||||||
451 | Dr. Pepper Snapple Group, Inc. (Beverages) | 44 | ||||||
72 | Dril-Quip, Inc. (Energy Equipment & Services) (a) | 3 | ||||||
180 | DST Systems, Inc. (IT Services) | 11 | ||||||
219 | Eaton Vance Corp. (Capital Markets) | 12 | ||||||
658 | Ecolab, Inc. (Chemicals) | 89 | ||||||
516 | Edwards Lifesciences Corp. (Health Care Equipment & Supplies) (a) | 58 | ||||||
423 | Expeditors International of Washington, Inc. (Air Freight & Logistics) | 27 | ||||||
1,670 | Express Scripts Holding Co. (Health Care Providers & Services) (a) | 125 | ||||||
3,359 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 281 | ||||||
167 | F5 Networks, Inc. (Communications Equipment) (a) | 22 | ||||||
90 | FactSet Research Systems, Inc. (Capital Markets) | 17 | ||||||
610 | Fastenal Co. (Trading Companies & Distributors) | 33 | ||||||
345 | First Republic Bank (Banks) | 30 | ||||||
595 | Fiserv, Inc. (IT Services) (a) | 78 | ||||||
218 | FleetCor Technologies, Inc. (IT Services) (a) | 42 | ||||||
306 | Fluor Corp. (Construction & Engineering) | 16 | ||||||
139 | Fossil Group, Inc. (Textiles, Apparel & Luxury Goods) (a) | 1 | ||||||
876 | Franklin Resources, Inc. (Capital Markets) | 38 | ||||||
210 | GameStop Corp., Class – A (Specialty Retail) | 4 | ||||||
452 | Gap, Inc. (Specialty Retail) | 15 | ||||||
1,470 | General Mills, Inc. (Food Products) | 87 | ||||||
104 | Genesee & Wyoming, Inc., Class – A (Road & Rail) (a) | 8 | ||||||
349 | Genuine Parts Co. (Distributors) | 33 | ||||||
2,076 | Halliburton Co. (Energy Equipment & Services) | 102 | ||||||
373 | Henry Schein, Inc. (Health Care Providers & Services) (a) | 26 | ||||||
336 | Hershey Co. (Food Products) | 38 | ||||||
181 | Hexcel Corp. (Aerospace & Defense) | 11 | ||||||
599 | Hormel Foods Corp. (Food Products) | 22 | ||||||
134 | Hubbell, Inc. (Electrical Equipment) | 18 |
See accompanying notes to financial statements.
87
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
172 | IDEX Corp. (Machinery) | $ | 23 | |||||
220 | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | 34 | ||||||
749 | Illinois Tool Works, Inc. (Machinery) | 124 | ||||||
8,292 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 383 | ||||||
1,783 | International Business Machines Corp. (IT Services) | 274 | ||||||
173 | International Flavors & Fragrances, Inc. (Chemicals) | 26 | ||||||
684 | Intuit, Inc. (Software) | 108 | ||||||
68 | IPG Photonics Corp. (Electronic Equipment, Instruments & Components) (a) | 15 | ||||||
185 | Jack Henry & Associates, Inc. (IT Services) | 22 | ||||||
283 | Jacobs Engineering Group, Inc. (Construction & Engineering) | 18 | ||||||
92 | John Wiley & Sons, Inc., Class – A (Media) | 6 | ||||||
20 | Juno Therapeutics, Inc. (Biotechnology) (a) | 1 | ||||||
916 | Kimberly-Clark Corp. (Household Products) | 111 | ||||||
426 | Kohl’s Corp. (Multiline Retail) | 23 | ||||||
229 | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | 37 | ||||||
87 | Landstar System, Inc. (Road & Rail) | 9 | ||||||
172 | Lincoln Electric Holdings, Inc. (Machinery) | 16 | ||||||
646 | LKQ Corp. (Distributors) (a) | 26 | ||||||
49 | LogMeln, Inc. (Internet Software & Services) | 6 | ||||||
245 | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | 19 | ||||||
97 | Lumentum Holdings, Inc. (Communications Equipment) (a) | 5 | ||||||
1,319 | Marsh & McLennan Companies, Inc. (Insurance) | 107 | ||||||
2,277 | MasterCard, Inc., Class – A (IT Services) | 345 | ||||||
265 | McCormick & Company, Inc. (Food Products) | 27 | ||||||
2,107 | McDonald’s Corp. (Hotels, Restaurants & Leisure) | 363 | ||||||
577 | McKesson Corp. (Health Care Providers & Services) | 90 | ||||||
205 | MEDNAX, Inc. (Health Care Providers & Services) (a) | 11 | ||||||
63 | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | 39 | ||||||
4,367 | Microsoft Corp. (Software) | 374 | ||||||
365 | Molson Coors Brewing Co., Class – B (Beverages) | 30 | ||||||
37 | Morningstar, Inc. (Capital Markets) | 4 | ||||||
90 | MSC Industrial Direct Co., Inc., Class – A (Trading Companies & Distributors) | 9 | ||||||
158 | National Fuel Gas Co. (Gas Utilities) | 9 | ||||||
209 | National Instruments Corp. (Electronic Equipment, Instruments & Components) | 9 | ||||||
871 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 31 | ||||||
3,282 | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | 205 | ||||||
291 | Nordstrom, Inc. (Multiline Retail) | 14 | ||||||
758 | Norfolk Southern Corp. (Road & Rail) | 110 | ||||||
1,927 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 142 | ||||||
264 | Oceaneering International, Inc. (Energy Equipment & Services) | 6 |
Shares | Security Description | Value (000) | ||||||
United States (continued) | ||||||||
150 | Old Dominion Freight Line, Inc. (Road & Rail) | $ | 20 | |||||
6,679 | Oracle Corp. (Software) | 316 | ||||||
159 | Patterson Companies, Inc. (Health Care Providers & Services) | 6 | ||||||
758 | Paychex, Inc. (IT Services) | 52 | ||||||
2,995 | PayPal Holdings, Inc. (IT Services) (a) | 220 | ||||||
2,775 | PepsiCo, Inc. (Beverages) | 333 | ||||||
1,376 | Phillips 66 (Oil, Gas & Consumable Fuels) | 139 | ||||||
127 | Polaris Industries, Inc. (Leisure Products) | 16 | ||||||
707 | Praxair, Inc. (Chemicals) | 110 | ||||||
320 | Quest Diagnostics, Inc. (Health Care Providers & Services) | 32 | ||||||
417 | Red Hat, Inc. (Software) (a) | 50 | ||||||
311 | ResMed, Inc. (Health Care Equipment & Supplies) | 26 | ||||||
310 | Robert Half International, Inc. (Professional Services) | 17 | ||||||
194 | Rollins, Inc. (Commercial Services & Supplies) | 9 | ||||||
244 | Roper Industries, Inc. (Industrial Conglomerates) | 63 | ||||||
990 | Ross Stores, Inc. (Specialty Retail) | 79 | ||||||
679 | S&P Global, Inc. (Capital Markets) | 115 | ||||||
312 | SCANA Corp. (Multi-Utilities) | 12 | ||||||
205 | Scripps Networks Interactive, Class – A (Media) | 18 | ||||||
135 | Snap-on, Inc. (Machinery) | 24 | ||||||
199 | Sonoco Products Co. (Containers & Packaging) | 10 | ||||||
142 | Spirit Airlines, Inc. (Airlines) (a) | 6 | ||||||
286 | Sprouts Farmers Market, Inc. (Food & Staples Retailing) (a) | 7 | ||||||
355 | Stanley Black & Decker, Inc. (Machinery) | 60 | ||||||
3,636 | Starbucks Corp. (Hotels, Restaurants & Leisure) | 209 | ||||||
1,462 | Sysco Corp. (Food & Staples Retailing) | 89 | ||||||
634 | T. Rowe Price Group, Inc. (Capital Markets) | 67 | ||||||
576 | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | 25 | ||||||
596 | TD Ameritrade Holding Corp. (Capital Markets) | 30 | ||||||
352 | Teradata Corp. (IT Services) (a) | 14 | ||||||
2,510 | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | 262 | ||||||
311 | The Clorox Co. (Household Products) | 46 | ||||||
6,484 | The Coca-Cola Co. (Beverages) | 297 | ||||||
67 | The Dun & Bradstreet Corp. (Professional Services) | 8 | ||||||
280 | The J.M. Smucker Co. (Food Products) | 35 | ||||||
1,473 | The Kraft Heinz Co. (Food Products) | 114 | ||||||
2,413 | The Kroger Co. (Food & Staples Retailing) | 66 | ||||||
34 | The Madison Square Garden Co., Class – A (Media) (a) | 7 | ||||||
132 | The Middleby Corp. (Machinery) (a) | 18 | ||||||
200 | The Sherwin-Williams Co. (Chemicals) | 82 | ||||||
2,284 | The Southern Co. (Electric Utilities) | 110 | ||||||
260 | The Toro Co. (Machinery) | 17 | ||||||
2,820 | The Walt Disney Co. (Media) | 303 | ||||||
254 | Tiffany & Co. (Specialty Retail) | 26 | ||||||
290 | Tractor Supply Co. (Specialty Retail) | 22 | ||||||
164 | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | 37 | ||||||
339 | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods)^ (a) | 5 | ||||||
341 | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | 5 |
See accompanying notes to financial statements.
88
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) | ||||||||
2,112 | Union Pacific Corp. (Road & Rail) | $ | 283 | |||||
791 | V.F. Corp. (Textiles, Apparel & Luxury Goods) | 59 | ||||||
76 | Varex Imaging Corp. (Health Care Equipment & Supplies) (a) | 3 | ||||||
225 | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | 25 | ||||||
196 | Versum Materials, Inc. (Semiconductors & Semiconductor Equipment) | 7 | ||||||
3,167 | Visa, Inc., Class – A (IT Services) | 360 | ||||||
188 | VMware, Inc., Class – A (Software) (a) | 24 | ||||||
134 | W.W. Grainger, Inc. (Trading Companies & Distributors) | 32 | ||||||
213 | Wabtec Corp. (Machinery) | 17 | ||||||
3,815 | Wal-Mart Stores, Inc. (Food & Staples Retailing) | 377 | ||||||
181 | Waters Corp. (Life Sciences Tools & Services) (a) | 35 | ||||||
1,155 | Western Union Co. (IT Services) | 22 | ||||||
169 | Williams-Sonoma, Inc. (Specialty Retail) | 9 | ||||||
157 | World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | 4 | ||||||
1,206 | Xcel Energy, Inc. (Electric Utilities) | 58 | ||||||
574 | Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | 39 | ||||||
|
| |||||||
13,706 | ||||||||
|
| |||||||
Total Common Stocks | 30,779 | |||||||
|
| |||||||
Preferred Stock — 0.03% | ||||||||
Germany — 0.03% | ||||||||
104 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 9 | ||||||
|
| |||||||
Total Preferred Stock | 9 | |||||||
|
| |||||||
Mutual Funds — 0.57% | ||||||||
1,658 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (b) | 2 | ||||||
175,168 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (b) | 175 | ||||||
|
| |||||||
Total Mutual Funds | 177 | |||||||
|
|
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreement — 0.01% | ||||||||
$ | 2 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $1,543 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $1,573)^^ | $ | 2 | ||||
|
| |||||||
Total Repurchase Agreement | 2 | |||||||
|
| |||||||
Total Investments | 30,967 | |||||||
Other assets in excess | 103 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 31,070 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $3 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Catholic SRI Growth Portfolio | Cadence Capital Management, LLC | Mellon Capital Management Corporation | Total | |||||||||
Common Stocks | 53.48 | % | 45.58 | % | 99.06 | % | ||||||
Preferred Stock | 0.03 | % | — | 0.03 | % | |||||||
Mutual Funds | 0.01 | % | 0.56 | % | 0.57 | % | ||||||
Repurchase Agreement | — | 0.01 | % | 0.01 | % | |||||||
Other Assets (Liabilities) | 0.37 | % | -0.04 | % | 0.33 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 53.89 | % | 46.11 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
89
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 94.35% | ||||||||
Australia — 3.66% | ||||||||
145,922 | AMP Ltd. (Diversified Financial Services) | $ | 589 | |||||
106,043 | APA Group (Gas Utilities) | 687 | ||||||
329,278 | Aurizon Holdings Ltd. (Road & Rail) | 1,269 | ||||||
173,190 | AusNet Services (Electric Utilities) | 243 | ||||||
221,916 | Australia & New Zealand Banking Group Ltd. (Banks) | 4,950 | ||||||
27,850 | Bank of Queensland Ltd. (Banks) | 275 | ||||||
34,426 | Bendigo & Adelaide Bank Ltd. (Banks) | 312 | ||||||
107,550 | Coca-Cola Amatil Ltd. (Beverages) | 712 | ||||||
130,692 | Commonwealth Bank of Australia (Banks) | 8,156 | ||||||
79,134 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 802 | ||||||
95,241 | Dexus Property Group (Equity Real Estate Investment Trusts) | 723 | ||||||
171,978 | GPT Group (Equity Real Estate Investment Trusts) | 684 | ||||||
108,060 | Harvey Norman Holdings Ltd. (Multiline Retail)^ | 350 | ||||||
178,803 | Insurance Australia Group Ltd. (Insurance) | 1,007 | ||||||
16,233 | Macquarie Group Ltd. (Capital Markets) | 1,255 | ||||||
364,987 | Mirvac Group (Equity Real Estate Investment Trusts) | 667 | ||||||
199,075 | National Australia Bank Ltd. (Banks) | 4,571 | ||||||
103,826 | QBE Insurance Group Ltd. (Insurance) | 862 | ||||||
523,765 | Scentre Group (Equity Real Estate Investment Trusts) | 1,708 | ||||||
235,067 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 820 | ||||||
94,808 | Suncorp Group Ltd. (Insurance) | 1,021 | ||||||
219,259 | Sydney Airport (Transportation Infrastructure) | 1,203 | ||||||
379,291 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 1,645 | ||||||
432,020 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 1,221 | ||||||
329,392 | Vicinity Centres (Equity Real Estate Investment Trusts) | 698 | ||||||
140,345 | Wesfarmers Ltd. (Food & Staples Retailing) | 4,852 | ||||||
144,231 | Westfield Corp. (Equity Real Estate Investment Trusts) | 1,065 | ||||||
250,332 | Westpac Banking Corp. (Banks) | 6,088 | ||||||
|
| |||||||
48,435 | ||||||||
|
| |||||||
Austria — 0.07% | ||||||||
3,019 | ANDRITZ AG (Machinery) | 170 | ||||||
4,220 | Erste Group Bank AG (Banks) | 183 | ||||||
5,808 | OMV AG (Oil, Gas & Consumable Fuels) | 369 | ||||||
4,326 | Voestalpine AG (Metals & Mining) | 258 | ||||||
|
| |||||||
980 | ||||||||
|
| |||||||
Belgium — 0.47% | ||||||||
5,940 | Ageas (Insurance) | 290 | ||||||
44,260 | Anheuser-Busch InBev N.V. (Beverages) | 4,940 | ||||||
7,334 | Belgacom SA (Diversified Telecommunication Services) | 241 | ||||||
2,084 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 225 | ||||||
6,348 | KBC Groep N.V. (Banks) | 541 | ||||||
|
| |||||||
6,237 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Bermuda — 0.04% | ||||||||
127,167 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | $ | 499 | |||||
|
| |||||||
Brazil — 0.03% | ||||||||
57,187 | Ambev SA, ADR (Beverages) | 369 | ||||||
|
| |||||||
Canada — 3.07% | ||||||||
12,570 | Canadian Imperial Bank of Commerce (Banks) | 1,226 | ||||||
53,168 | Canadian Pacific Railway Ltd. (Road & Rail) | 9,715 | ||||||
27,438 | Canadian Pacific Railway Ltd. (Road & Rail) | 5,014 | ||||||
845,277 | Encana Corp. (Oil, Gas & Consumable Fuels) | 11,279 | ||||||
196,909 | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | 6,363 | ||||||
339,200 | Manulife Financial Corp. (Insurance) | 7,077 | ||||||
|
| |||||||
40,674 | ||||||||
|
| |||||||
Chile — 0.01% | ||||||||
2,794 | Quimica y Minera Chile SA, ADR (Chemicals) | 166 | ||||||
|
| |||||||
China — 2.02% | ||||||||
25,211 | Alibaba Group Holding Ltd., ADR (Internet Software & Services) (a) | 4,347 | ||||||
43,900 | Baidu, Inc., ADR (Internet Software & Services) (a) | 10,283 | ||||||
18 | China Literature Ltd. (Internet Software & Services) (a)(b) | — | ||||||
4,841,382 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 6,951 | ||||||
5,324 | NetEase, Inc., ADR (Internet Software & Services) | 1,837 | ||||||
183,500 | Ping An Insurance (Group) Company of China Ltd. (Insurance) | 1,903 | ||||||
52,800 | Sinopharm Group Co. (Health Care Providers & Services) | 227 | ||||||
23,200 | Tencent Holdings Ltd. (Internet Software & Services) | 1,201 | ||||||
|
| |||||||
26,749 | ||||||||
|
| |||||||
Curaçao — 0.13% | ||||||||
25,617 | Schlumberger Ltd. (Energy Equipment & Services) | 1,726 | ||||||
|
| |||||||
Denmark — 1.06% | ||||||||
31,280 | Danske Bank A/S (Banks) | 1,218 | ||||||
1,233 | Genmab A/S (Biotechnology) (a) | 205 | ||||||
18,645 | ISS A/S (Commercial Services & Supplies) | 722 | ||||||
186,602 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 10,029 | ||||||
57,021 | TDC A/S (Diversified Telecommunication Services) | 350 | ||||||
4,678 | Tryg A/S (Insurance) | 117 | ||||||
20,415 | Vestas Wind Systems A/S (Electrical Equipment) | 1,411 | ||||||
|
| |||||||
14,052 | ||||||||
|
| |||||||
Finland — 0.40% | ||||||||
17,194 | Elisa Oyj (Diversified Telecommunication Services) | 674 | ||||||
54,209 | Fortum Oyj (Electric Utilities) | 1,073 | ||||||
28,322 | Nokian Renkaat Oyj (Auto Components) | 1,284 | ||||||
41,510 | Sampo Oyj, Class – A (Insurance) | 2,278 | ||||||
|
| |||||||
5,309 | ||||||||
|
|
See accompanying notes to financial statements.
90
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
France — 6.49% | ||||||||
106,514 | AXA SA (Insurance) | $ | 3,155 | |||||
137,524 | BNP Paribas (Banks) | 10,229 | ||||||
30,709 | Bouygues SA (Construction & Engineering) | 1,593 | ||||||
78,210 | Carrefour SA (Food & Staples Retailing) | 1,686 | ||||||
7,591 | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | 460 | ||||||
9,181 | CNP Assurances (Insurance) | 212 | ||||||
62,580 | Credit Agricole SA (Banks) | 1,033 | ||||||
21,955 | Eiffage SA (Construction & Engineering) (c) | 2,403 | ||||||
397,530 | ENGIE (Multi-Utilities) | 6,833 | ||||||
24,786 | Eutelsat Communications (Media) | 574 | ||||||
2,328 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 264 | ||||||
3,308 | Gecina SA (Equity Real Estate Investment Trusts) | 611 | ||||||
2,624 | Icade (Equity Real Estate Investment Trusts) | 258 | ||||||
15,617 | Klepierre (Equity Real Estate Investment Trusts) | 686 | ||||||
16,446 | Lagardere SCA (Media) | 527 | ||||||
51,100 | Natixism SA (Banks) | 404 | ||||||
139,993 | Orange (Diversified Telecommunication Services) | 2,426 | ||||||
28,246 | Publicis Groupe (Media) | 1,914 | ||||||
119,746 | Sanofi-Aventis (Pharmaceuticals) | 10,308 | ||||||
262,264 | Schneider Electric SA (Electrical Equipment) | 22,233 | ||||||
9,400 | SCOR SE (Insurance) | 378 | ||||||
3,817 | Societe BIC SA (Commercial Services & Supplies) | 419 | ||||||
43,413 | Societe Generale (Banks) | 2,238 | ||||||
26,231 | Suez Environnement Co. (Multi-Utilities) | 461 | ||||||
215,917 | Total SA (Oil, Gas & Consumable Fuels)^ | 11,917 | ||||||
7,271 | Unibail-Rodamco SE (Equity Real Estate Investment Trusts) | 1,829 | ||||||
34,043 | Veolia Environnement (Multi-Utilities) | 868 | ||||||
|
| |||||||
85,919 | ||||||||
|
| |||||||
Germany — 9.93% | ||||||||
47,211 | Allianz SE (Insurance) | 10,802 | ||||||
4,464 | Axel Springer AG (Media) | 348 | ||||||
190,922 | BASF SE (Chemicals) | 20,928 | ||||||
31,813 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 3,298 | ||||||
31,508 | Beiersdorf AG (Personal Products) | 3,693 | ||||||
90,198 | Daimler AG, Registered Shares (Automobiles) | 7,626 | ||||||
86,439 | Deutsche Boerse AG (Capital Markets) | 10,004 | ||||||
192,693 | Deutsche Post AG (Air Freight & Logistics) | 9,158 | ||||||
271,830 | Deutsche Telekom AG (Diversified Telecommunication Services) | 4,805 | ||||||
2,159 | Drillisch AG (Wireless Telecommunication Services) | 178 | ||||||
15,422 | Evonik Industries AG (Chemicals) | 579 | ||||||
2,102 | Hannover Rueckversicherung AG (Insurance) | 264 | ||||||
5,871 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 498 | ||||||
6,511 | Innogy SE (Multi-Utilities) | 255 | ||||||
91,022 | Linde AG (Chemicals) (a) | 21,256 | ||||||
3,340 | MAN SE (Machinery) | 382 | ||||||
16,774 | Metro AG (Food & Staples Retailing) (a) | 334 |
Shares | Security Description | Value (000) | ||||||
Germany (continued) | ||||||||
5,746 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | $ | 1,241 | |||||
24,579 | ProSiebenSat.1 Media AG (Media) | 844 | ||||||
160,017 | SAP SE (Software) | 17,900 | ||||||
15,152 | Schaeffler AG (Auto Components) | 267 | ||||||
54,911 | Siemens AG (Industrial Conglomerates) | 7,602 | ||||||
35,461 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 177 | ||||||
56,889 | TUI AG (Hotels, Restaurants & Leisure) | 1,178 | ||||||
22,256 | Vonovia SE (Real Estate Management & Development) | 1,103 | ||||||
61,610 | Wirecard AG (IT Services) | 6,847 | ||||||
|
| |||||||
131,567 | ||||||||
|
| |||||||
Hong Kong — 2.72% | ||||||||
240,555 | BOC Hong Kong (Holdings) Ltd. (Banks) | 1,216 | ||||||
866,288 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 2,263 | ||||||
1,248,110 | China Mobile Ltd. (Wireless Telecommunication Services) | 12,621 | ||||||
248,500 | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | 3,114 | ||||||
61,500 | CK Infrastructure Holdings Ltd. (Electric Utilities) | 528 | ||||||
130,093 | CLP Holdings Ltd. (Electric Utilities) | 1,331 | ||||||
334,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) (a) | — | ||||||
198,675 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 484 | ||||||
47,806 | Hang Seng Bank Ltd. (Banks) | 1,186 | ||||||
112,520 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 740 | ||||||
246,573 | HK Electric Investments Ltd. (Electric Utilities) | 226 | ||||||
354,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 451 | ||||||
82,600 | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | 581 | ||||||
56,000 | Hysan Development Co. (Real Estate Management & Development) | 297 | ||||||
60,000 | Kerry Properties Ltd. (Real Estate Management & Development) | 270 | ||||||
1,022,000 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 560 | ||||||
525,483 | New World Development Co. Ltd. (Real Estate Management & Development) | 788 | ||||||
134,000 | NWS Holdings Ltd. (Industrial Conglomerates) | 241 | ||||||
394,000 | PCCW Ltd. (Diversified Telecommunication Services) | 229 | ||||||
128,724 | Power Assets Holdings Ltd. (Electric Utilities) | 1,085 | ||||||
255,205 | Sino Land Co. Ltd. (Real Estate Management & Development) | 451 | ||||||
353,000 | SJM Holdings Ltd. (Hotels, Restaurants & Leisure) | 315 | ||||||
136,256 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 2,269 | ||||||
51,708 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 478 |
See accompanying notes to financial statements.
91
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) | ||||||||
102,400 | Swire Properties Ltd. (Real Estate Management & Development) | $ | 330 | |||||
63,600 | The Bank of East Asia Ltd. (Banks) | 275 | ||||||
199,417 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 1,845 | ||||||
133,970 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 462 | ||||||
1,229,500 | WH Group Ltd. (Food Products) | 1,388 | ||||||
|
| |||||||
36,024 | ||||||||
|
| |||||||
Indonesia — 0.07% | ||||||||
3,312,000 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 889 | ||||||
|
| |||||||
Ireland (Republic of) — 0.69% | ||||||||
48,285 | CRH PLC (Construction Materials) | 1,738 | ||||||
92,652 | Experian PLC (Professional Services) | 2,042 | ||||||
59,919 | Medtronic PLC (Health Care Equipment & Supplies) | 4,838 | ||||||
4,257 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 507 | ||||||
|
| |||||||
9,125 | ||||||||
|
| |||||||
Israel — 0.32% | ||||||||
1,865 | Azrieli Group (Real Estate Management & Development) | 104 | ||||||
137,361 | Bank Hapoalim Ltd. (Banks) | 1,010 | ||||||
400,965 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 607 | ||||||
2,072 | Elbit Systems Ltd. (Aerospace & Defense) | 277 | ||||||
201,299 | Israel Chemicals Ltd. (Chemicals) | 816 | ||||||
27,000 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 512 | ||||||
45,186 | Teva Pharmaceutical Industries Ltd., ADR (Pharmaceuticals) | 857 | ||||||
|
| |||||||
4,183 | ||||||||
|
| |||||||
Italy — 2.11% | ||||||||
230,703 | Assicurazioni Generali SpA (Insurance) | 4,199 | ||||||
40,015 | Atlantia SpA (Transportation Infrastructure) | 1,261 | ||||||
250,904 | Eni SpA (Oil, Gas & Consumable Fuels) | 4,151 | ||||||
1,535,041 | Intesa Sanpaolo SpA (Banks) | 5,092 | ||||||
36,549 | Intesa Sanpaolo SpA (Banks) | 117 | ||||||
17,841 | Mediobanca SpA (Banks) | 202 | ||||||
20,881 | Poste Italiane SpA (Insurance)^ | 157 | ||||||
235,607 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 1,154 | ||||||
337,775 | Telecom Italia SpA (Diversified Telecommunication Services) | 240 | ||||||
70,976 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 413 | ||||||
580,737 | Unicredit SpA (Banks) (a) | 10,831 | ||||||
42,893 | UnipolSai SpA (Insurance) | 100 | ||||||
|
| |||||||
27,917 | ||||||||
|
| |||||||
Japan — 18.43% | ||||||||
3,600 | ABC-Mart, Inc. (Specialty Retail) | 206 | ||||||
4,361 | AEON Credit Service Co. Ltd. (Consumer Finance) | 101 | ||||||
20,300 | Aisin Seiki Co. Ltd. (Auto Components) | 1,137 | ||||||
40,500 | Amada Holdings Co. Ltd. (Machinery) | 550 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
4,916 | Aozora Bank Ltd. (Banks) | $ | 191 | |||||
23,545 | Asahi Glass Co. Ltd. (Building Products) | 1,018 | ||||||
248,100 | Astellas Pharma, Inc. (Pharmaceuticals) | 3,152 | ||||||
8,180 | Benesse Holdings, Inc. (Diversified Consumer Services) | 288 | ||||||
75,911 | Bridgestone Corp. (Auto Components) | 3,514 | ||||||
28,000 | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | 688 | ||||||
61,500 | CALBEE, Inc. (Food Products) | 1,999 | ||||||
123,610 | Canon, Inc. (Technology Hardware, Storage & Peripherals) | 4,606 | ||||||
26,400 | Casio Computer Co. Ltd. (Household Durables) | 379 | ||||||
36,500 | Chubu Electric Power Company, Inc. (Electric Utilities) | 453 | ||||||
29,688 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 661 | ||||||
31,300 | Daicel Corp. (Chemicals) | 355 | ||||||
67,378 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 1,752 | ||||||
3,979 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 811 | ||||||
32,350 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 1,241 | ||||||
91 | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | 216 | ||||||
47,000 | Daiwa Securities Group, Inc. (Capital Markets) | 294 | ||||||
56,300 | Denso Corp. (Auto Components) | 3,373 | ||||||
110,600 | East Japan Railway Co. (Road & Rail) | 10,787 | ||||||
30,057 | Eisai Co. Ltd. (Pharmaceuticals) | 1,708 | ||||||
8,100 | Electric Power Development Co. Ltd. (Independent Power & Renewable Electricity Producers) | 218 | ||||||
8,500 | Fanuc Ltd. (Machinery) | 2,039 | ||||||
72,698 | Fuji Heavy Industries Ltd. (Automobiles) | 2,305 | ||||||
220,000 | Fujitsu Ltd. (IT Services) | 1,559 | ||||||
33,886 | Fukuoka Financial Group, Inc. (Banks) | 190 | ||||||
28,600 | Hino Motors Ltd. (Machinery) | 369 | ||||||
12,000 | Hitachi Chemical Co. Ltd. (Chemicals) | 307 | ||||||
1,202,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 9,326 | ||||||
195,236 | Honda Motor Co. Ltd. (Automobiles) | 6,664 | ||||||
17,000 | Iida Group Holdings Co. Ltd. (Household Durables) | 320 | ||||||
69,700 | Isuzu Motors Ltd. (Automobiles) | 1,164 | ||||||
171,817 | ITOCHU Corp. (Trading Companies & Distributors) | 3,203 | ||||||
310,000 | Japan Airlines Co. Ltd. (Airlines) | 12,113 | ||||||
14,500 | Japan Exchange Group, Inc. (Capital Markets) | 252 | ||||||
17,500 | Japan Post Bank Co. Ltd. (Banks) | 227 | ||||||
66,600 | Japan Post Holdings Co. Ltd. (Insurance) | 763 | ||||||
51 | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | 162 | ||||||
77 | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | 366 | ||||||
159 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 291 | ||||||
265,012 | Japan Tobacco, Inc. (Tobacco) | 8,535 | ||||||
30,079 | JS Group Corp. (Building Products) | 813 |
See accompanying notes to financial statements.
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
22,454 | JSR Corp. (Chemicals) | $ | 441 | |||||
27,400 | JTEKT Corp. (Machinery) | 470 | ||||||
367,357 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 2,361 | ||||||
100,000 | Kajima Corp. (Construction & Engineering) | 961 | ||||||
33,000 | Kaneka Corp. (Chemicals) | 301 | ||||||
554,500 | KDDI Corp. (Wireless Telecommunication Services) | 13,775 | ||||||
287,545 | Komatsu Ltd. (Machinery) | 10,393 | ||||||
53,900 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 517 | ||||||
41,784 | Kuraray Co. Ltd. (Chemicals) | 787 | ||||||
38,300 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 2,501 | ||||||
6,494 | Lawson, Inc. (Food & Staples Retailing) | 432 | ||||||
184,516 | Marubeni Corp. (Trading Companies & Distributors) | 1,334 | ||||||
23,800 | Marui Group Co. Ltd. (Multiline Retail) | 435 | ||||||
6,387 | Maruichi Steel Tube Ltd. (Metals & Mining) | 187 | ||||||
41,900 | Mebuki Financial Group, Inc. (Banks) | 177 | ||||||
160,100 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 1,752 | ||||||
174,245 | Mitsubishi Corp. (Trading Companies & Distributors) | 4,806 | ||||||
37,400 | Mitsubishi Heavy Industries Ltd. (Machinery) | 1,395 | ||||||
24,926 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 514 | ||||||
803,005 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 5,845 | ||||||
12,000 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 71 | ||||||
192,688 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 3,126 | ||||||
20,700 | Mitsui Chemicals, Inc. (Chemicals) | 664 | ||||||
5,200 | Mixi, Inc. (Internet Software & Services) | 233 | ||||||
1,048,277 | Mizuho Financial Group, Inc. (Banks) | 1,896 | ||||||
20,400 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 688 | ||||||
28,900 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 779 | ||||||
12,400 | Nintendo Co. Ltd. (Software) | 4,466 | ||||||
85 | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | 416 | ||||||
10,084 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 384 | ||||||
114 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 241 | ||||||
81,400 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 2,080 | ||||||
39,800 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 1,871 | ||||||
272,054 | Nissan Motor Co. Ltd. (Automobiles) | 2,709 | ||||||
11,800 | NOK Corp. (Auto Components) | 275 | ||||||
6,811 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 152 | ||||||
241 | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | 299 | ||||||
15,400 | Nomura Research Institute Ltd. (IT Services) | 715 | ||||||
107,017 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 2,531 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
74,200 | Obayashi Corp. (Construction & Engineering) | $ | 896 | |||||
7,200 | OBIC Co. Ltd. (IT Services) | 529 | ||||||
23,900 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 1,422 | ||||||
36,700 | ORIX Corp. (Diversified Financial Services) | 619 | ||||||
21,342 | Osaka Gas Co. Ltd. (Gas Utilities) | 410 | ||||||
6,000 | OTSUKA Corp. (IT Services) | 460 | ||||||
45,815 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 2,010 | ||||||
12,100 | Park24 Co. Ltd. (Commercial Services & Supplies) | 290 | ||||||
96,138 | Resona Holdings, Inc. (Banks) | 573 | ||||||
79,883 | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | 740 | ||||||
17,700 | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | 1,950 | ||||||
5,515 | Sankyo Co. Ltd. (Leisure Products) | 173 | ||||||
5,000 | SBI Holdings, Inc. (Capital Markets) | 104 | ||||||
21,700 | Sega Sammy Holdings, Inc. (Leisure Products) | 270 | ||||||
31,796 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 749 | ||||||
67,952 | Sekisui House Ltd. (Household Durables) | 1,226 | ||||||
84,500 | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | 3,501 | ||||||
25,200 | Seven Bank Ltd. (Banks) | 86 | ||||||
23,594 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels)^ | 319 | ||||||
75,200 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 2,903 | ||||||
7,608 | Sony Financial Holdings, Inc. (Insurance) | 134 | ||||||
194,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | 1,388 | ||||||
132,086 | Sumitomo Corp. (Trading Companies & Distributors) | 2,241 | ||||||
88,600 | Sumitomo Electric Industries Ltd. (Auto Components) | 1,494 | ||||||
60,624 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 2,774 | ||||||
203,748 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 8,783 | ||||||
14,783 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 585 | ||||||
20,591 | Sumitomo Rubber Industries Ltd. (Auto Components) | 382 | ||||||
24,000 | T&D Holdings, Inc. (Insurance) | 410 | ||||||
283,011 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 16,026 | ||||||
21,500 | Teijin Ltd. (Chemicals) | 478 | ||||||
31,000 | The Chiba Bank Ltd. (Banks) | 257 | ||||||
15,442 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | 166 | ||||||
44,700 | The Dai-ichi Life Insurance Co. Ltd. (Insurance) | 919 | ||||||
39,200 | The Kansai Electric Power Co., Inc. (Electric Utilities) | 479 | ||||||
21,000 | The Shizuoka Bank Ltd. (Banks) | 216 | ||||||
13,600 | The Yokohama Rubber Co. Ltd. (Auto Components) | 332 | ||||||
25,200 | Tohoku Electric Power Co., Inc. (Electric Utilities) | 322 | ||||||
29,100 | Tokio Marine Holdings, Inc. (Insurance) | 1,324 | ||||||
20,300 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 3,663 |
See accompanying notes to financial statements.
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
22,200 | Tokyo Gas Co. Ltd. (Gas Utilities) | $ | 508 | |||||
7,500 | Toyoda Gosei Co. Ltd. (Auto Components) | 190 | ||||||
19,000 | Toyota Industries Corp. (Auto Components) | 1,218 | ||||||
165,000 | Toyota Motor Corp. (Automobiles) | 10,517 | ||||||
24,570 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 987 | ||||||
13,627 | Trend Micro, Inc. (Software) | 771 | ||||||
184 | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | 265 | ||||||
24,700 | USS Co. Ltd. (Specialty Retail) | 523 | ||||||
17,800 | West Japan Railway Co. (Road & Rail) | 1,299 | ||||||
165,500 | Yahoo Japan Corp. (Internet Software & Services) | 758 | ||||||
70,100 | Yamada Denki Co. Ltd. (Specialty Retail)^ | 386 | ||||||
33,800 | Yamaha Motor Co. Ltd. (Automobiles) | 1,107 | ||||||
26,700 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 510 | ||||||
|
| |||||||
244,288 | ||||||||
|
| |||||||
Jersey — 0.75% | ||||||||
46,856 | Ferguson PLC (Trading Companies & Distributors) | 3,362 | ||||||
694,219 | Glencore International PLC (Metals & Mining) | 3,632 | ||||||
159,267 | WPP PLC (Media) | 2,877 | ||||||
|
| |||||||
9,871 | ||||||||
|
| |||||||
Luxembourg — 0.24% | ||||||||
54,502 | ArcelorMittal (Metals & Mining) (a) | 1,768 | ||||||
5,224 | Millicom International Cellular SA (Wireless Telecommunication Services) | 353 | ||||||
3,597 | RTL Group (Media) | 289 | ||||||
46,189 | SES – FDR, Class – A (Media) | 721 | ||||||
|
| |||||||
3,131 | ||||||||
|
| |||||||
Netherlands — 3.14% | ||||||||
11,460 | ABN AMRO Group N.V. (Banks) | 369 | ||||||
46,673 | AEGON N.V. (Insurance) | 297 | ||||||
29,665 | Airbus Group N.V. (Aerospace & Defense) | 2,948 | ||||||
129,180 | Akzo Nobel N.V. (Chemicals) | 11,333 | ||||||
16,456 | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | 2,861 | ||||||
597,707 | ING Groep N.V. (Banks) | 10,971 | ||||||
119,075 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 416 | ||||||
87,316 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 1,919 | ||||||
6,492 | Koninklijke Boskalis Westminster N.V. (Construction & Engineering) | 245 | ||||||
12,961 | Koninklijke DSM N.V. (Chemicals) | 1,238 | ||||||
67,591 | Koninklijke Philips Electronics N.V. (Industrial Conglomerates) | 2,552 | ||||||
4,891 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 214 | ||||||
8,132 | NN Group N.V. (Insurance) | 351 | ||||||
8,321 | Randstad Holding N.V. (Professional Services) | 511 | ||||||
94,858 | Unilever N.V. (Personal Products) | 5,340 | ||||||
|
| |||||||
41,565 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
New Zealand — 0.13% | ||||||||
144,465 | Fletcher Building Ltd. (Construction Materials) | $ | 778 | |||||
106,572 | Meridian Energy Ltd. (Independent Power & Renewable Electricity Producers) | 221 | ||||||
261,745 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 673 | ||||||
|
| |||||||
1,672 | ||||||||
|
| |||||||
Norway — 0.37% | ||||||||
9,727 | Gjensidige Forsikring ASA (Insurance) | 184 | ||||||
46,397 | Marine Harvest ASA (Food Products) | 785 | ||||||
142,071 | Statoil ASA (Oil, Gas & Consumable Fuels) | 3,042 | ||||||
43,086 | Telenor ASA (Diversified Telecommunication Services) | 923 | ||||||
|
| |||||||
4,934 | ||||||||
|
| |||||||
Portugal — 0.11% | ||||||||
425,776 | EDP – Energias de Portugal SA (Electric Utilities) | 1,474 | ||||||
|
| |||||||
Russia — 0.11% | ||||||||
79,233 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | 1,498 | ||||||
|
| |||||||
Singapore — 0.81% | ||||||||
301,072 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 611 | ||||||
276,844 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 399 | ||||||
322,715 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 514 | ||||||
565,100 | ComfortDelGro Corp. Ltd. (Road & Rail) | 835 | ||||||
832,800 | Hutchison Port Holdings Trust (Transportation Infrastructure) | 345 | ||||||
283,400 | Oversea-Chinese Banking Corp. Ltd. (Banks) | 2,619 | ||||||
152,600 | SATS Ltd. (Transportation Infrastructure) | 593 | ||||||
50,100 | Singapore Exchange Ltd. (Capital Markets) | 278 | ||||||
328,081 | Singapore Press Holdings Ltd. (Media) | 649 | ||||||
297,027 | Singapore Tech Engineering (Aerospace & Defense) | 723 | ||||||
1,029,779 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 2,747 | ||||||
284,580 | Suntec REIT (Equity Real Estate Investment Trusts) | 456 | ||||||
|
| |||||||
10,769 | ||||||||
|
| |||||||
South Africa — 0.07% | ||||||||
3,118 | Naspers Ltd. (Media) | 867 | ||||||
|
| |||||||
South Korea — 1.73% | ||||||||
553 | LG Household & Health Care Ltd. (Personal Products) | 614 | ||||||
4,827 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 11,470 | ||||||
43,533 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 10,859 | ||||||
|
| |||||||
22,943 | ||||||||
|
| |||||||
Spain — 1.73% | ||||||||
94,256 | Abertis Infraestructuras SA (Transportation Infrastructure) | 2,097 | ||||||
5,393 | Amadeus IT Holding SA, A Shares (IT Services) | 388 | ||||||
341,819 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 2,904 |
See accompanying notes to financial statements.
94
Table of Contents
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Spain (continued) | ||||||||
653,867 | CaixaBank SA (Banks) | $ | 3,040 | |||||
52,344 | Corporacion Mapfre (Insurance) | 168 | ||||||
29,955 | Enagas (Oil, Gas & Consumable Fuels) | 857 | ||||||
21,929 | Endesa (Electric Utilities) | 469 | ||||||
23,373 | Gas Natural SDG SA (Gas Utilities) | 539 | ||||||
66,094 | Grifols SA, ADR (Biotechnology) | 1,515 | ||||||
34,126 | Grifols SA (Biotechnology) | 998 | ||||||
380,674 | Iberdrola SA (Electric Utilities) | 2,946 | ||||||
44,414 | Red Electrica Corp. (Electric Utilities) | 997 | ||||||
165,258 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 2,917 | ||||||
309,742 | Telefonica SA (Diversified Telecommunication Services) | 3,016 | ||||||
|
| |||||||
22,851 | ||||||||
|
| |||||||
Sweden — 1.69% | ||||||||
194,290 | Alfa Laval AB (Machinery) | 4,597 | ||||||
147,579 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 3,054 | ||||||
32,360 | Hexagon AB (Electronic Equipment, Instruments & Components) | 1,624 | ||||||
12,861 | ICA Gruppen AB (Food & Staples Retailing) | 467 | ||||||
198,133 | Nordea Bank AB (Banks) | 2,400 | ||||||
99,436 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 1,168 | ||||||
53,906 | Skanska AB, B Shares (Construction & Engineering) | 1,117 | ||||||
99,166 | Svenska Handelsbanken AB, A Shares (Banks) | 1,356 | ||||||
60,093 | Swedbank AB, A Shares (Banks) | 1,450 | ||||||
31,211 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 384 | ||||||
570,431 | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | 3,766 | ||||||
219,686 | TeliaSonera AB (Diversified Telecommunication Services) | 980 | ||||||
|
| |||||||
22,363 | ||||||||
|
| |||||||
Switzerland — 9.36% | ||||||||
847,801 | ABB Ltd., Registered Shares (Electrical Equipment) | 22,714 | ||||||
29,245 | Adecco SA, Registered Shares (Professional Services) | 2,235 | ||||||
124,964 | Aryzta AG (Food Products) | 4,958 | ||||||
3,315 | Baloise Holding AG, Registered Shares (Insurance) | 515 | ||||||
123,650 | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | 11,202 | ||||||
126,836 | Credit Suisse Group AG (Capital Markets) | 2,263 | ||||||
9,480 | Idorsia Ltd. (Biotechnology) | 248 | ||||||
9,375 | Kuehne & Nagel International Ltd. (Marine) | 1,659 | ||||||
83,071 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 4,680 | ||||||
73,222 | Nestle SA (Food Products) | 6,297 | ||||||
276,668 | Novartis AG, Registered Shares (Pharmaceuticals) | 23,288 | ||||||
1,689 | Pargesa Holding SA (Diversified Financial Services) | 146 | ||||||
94,987 | Roche Holding AG (Pharmaceuticals) | 24,023 | ||||||
967 | SGS SA, Registered Shares (Professional Services) | 2,522 | ||||||
2,184 | Swiss Life Holding AG (Insurance) | 772 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
6,385 | Swiss Prime Site AG (Real Estate Management & Development) | $ | 590 | |||||
21,496 | Swiss Re AG (Insurance) | 2,011 | ||||||
2,253 | Swisscom AG (Diversified Telecommunication Services) | 1,198 | ||||||
161,489 | UBS Group AG (Capital Markets) | 2,968 | ||||||
31,751 | Zurich Financial Services AG (Insurance) | 9,657 | ||||||
|
| |||||||
123,946 | ||||||||
|
| |||||||
United Kingdom — 21.58% | ||||||||
9,366 | Admiral Group PLC (Insurance) | 253 | ||||||
27,424 | Aon PLC (Insurance) | 3,675 | ||||||
309,056 | AstraZeneca PLC (Pharmaceuticals) | 21,323 | ||||||
1,581,706 | Aviva PLC (Insurance) | 10,786 | ||||||
31,399 | Babcock International Group PLC (Commercial Services & Supplies) | 299 | ||||||
645,781 | BAE Systems PLC (Aerospace & Defense) | 4,989 | ||||||
1,252,516 | Balfour Beatty PLC (Construction & Engineering) | 5,009 | ||||||
5,743,019 | Barclays PLC (Banks) | 15,718 | ||||||
129,701 | Barratt Developments PLC (Household Durables) | 1,131 | ||||||
474,906 | BHP Billiton PLC (Metals & Mining) | 9,601 | ||||||
3,385,064 | BP PLC (Oil, Gas & Consumable Fuels) | 23,744 | ||||||
235,102 | British American Tobacco PLC (Tobacco) | 15,889 | ||||||
62,517 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 582 | ||||||
519,959 | BT Group PLC (Diversified Telecommunication Services) | 1,907 | ||||||
86,883 | Capita PLC (Professional Services) | 469 | ||||||
126,472 | Carnival PLC (Hotels, Restaurants & Leisure) | 8,320 | ||||||
343,152 | Centrica PLC (Multi-Utilities) | 636 | ||||||
3,422,953 | Cobham PLC (Aerospace & Defense) (a) | 5,835 | ||||||
120,584 | Coca-Cola European Partners PLC (Beverages) | 4,805 | ||||||
753,184 | ConvaTec Group PLC (Health Care Equipment & Supplies) (c) | 2,076 | ||||||
146,372 | Diageo PLC (Beverages) | 5,364 | ||||||
65,386 | Direct Line Insurance Group PLC (Insurance) | 336 | ||||||
20,051 | easyJet PLC (Airlines) | 396 | ||||||
202,304 | G4S PLC (Commercial Services & Supplies) | 728 | ||||||
1,150,271 | GlaxoSmithKline PLC (Pharmaceuticals) | 20,366 | ||||||
51,057 | Hammerson PLC (Equity Real Estate Investment Trusts) | 377 | ||||||
979,553 | HSBC Holdings PLC (Banks) | 10,115 | ||||||
127,339 | Imperial Tobacco Group PLC (Tobacco) | 5,431 | ||||||
20,674 | Investec PLC (Capital Markets) | 149 | ||||||
442,922 | ITV PLC (Media) | 990 | ||||||
208,954 | J Sainsbury PLC (Food & Staples Retailing) | 680 | ||||||
47,300 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 642 | ||||||
288,974 | Legal & General Group PLC (Insurance) | 1,064 | ||||||
40,847 | Liberty Global PLC, Class – A (Media) (a) | 1,464 | ||||||
81,068 | Liberty Global PLC, Class – C (Media) (a) | 2,743 | ||||||
10,210,398 | Lloyds Banking Group PLC (Banks) | 9,361 | ||||||
28,055 | London Stock Exchange Group (Capital Markets) | 1,434 |
See accompanying notes to financial statements.
95
Table of Contents
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
200,797 | Marks & Spencer Group PLC (Multiline Retail) | $ | 852 | |||||
85,417 | Micro Focus International PLC (Software) | 2,902 | ||||||
218,725 | National Grid PLC (Multi-Utilities) | 2,578 | ||||||
18,381 | Next PLC (Multiline Retail) | 1,120 | ||||||
106,916 | Pearson PLC (Media) | 1,059 | ||||||
40,366 | Persimmon PLC (Household Durables) | 1,492 | ||||||
433,057 | Prudential PLC (Insurance) | 11,088 | ||||||
171,669 | Rio Tinto PLC (Metals & Mining) | 9,004 | ||||||
243,412 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 8,124 | ||||||
644,252 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 21,690 | ||||||
109,329 | Royal Mail PLC (Air Freight & Logistics) | 668 | ||||||
15,391 | Severn Trent PLC (Water Utilities) | 448 | ||||||
467,533 | SSE PLC (Electric Utilities) | 8,310 | ||||||
97,817 | Standard Life PLC (Insurance) | 575 | ||||||
418,103 | Taylor Wimpey PLC (Household Durables) | 1,165 | ||||||
16,377 | The Berkeley Group Holdings PLC (Household Durables) | 928 | ||||||
42,640 | United Utilities Group PLC (Water Utilities) | 478 | ||||||
4,698,052 | Vodafone Group PLC (Wireless Telecommunication Services) | 14,848 | ||||||
|
| |||||||
286,016 | ||||||||
|
| |||||||
United States — 0.81% | ||||||||
641,080 | AIA Group Ltd. (Insurance) (c) | 5,453 | ||||||
2,874 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | 3,361 | ||||||
13,549 | WABCO Holdings, Inc. (Machinery) (a) | 1,944 | ||||||
|
| |||||||
10,758 | ||||||||
|
| |||||||
Total Common Stocks | 1,249,766 | |||||||
|
| |||||||
Preferred Stocks — 1.95% | ||||||||
Germany — 1.95% | ||||||||
3,980 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 355 | ||||||
19,598 | Henkel AG & Co. KGaA – Preferred (Household Products) | 2,588 | ||||||
115,110 | Volkswagen AG – Preferred (Automobiles) | 22,862 | ||||||
|
| |||||||
Total Preferred Stocks | 25,805 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Time Deposit — 1.10% | ||||||||
$ | 14,566 | State Street Liquidity Management Control System Eurodollar Time Deposit, | 14,566 | |||||
|
| |||||||
Total Time Deposit | 14,566 | |||||||
|
|
Shares | Security Description | Value (000) | ||||||
Mutual Funds —3.71% | ||||||||
16,690,925 | Dreyfus Treasury Prime Cash Management Fund, 1.11% (d) | $ | 16,691 | |||||
6,547,527 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 6,548 | ||||||
939,410 | State Street Institutional Treasury Money Market Fund, 1.15% (d) | 939 | ||||||
25,016,064 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 25,016 | ||||||
|
| |||||||
Total Mutual Funds | 49,194 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.46% | ||||||||
$ | 6,092 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $6,092,998 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $6,213,823)^^ | 6,092 | |||||
|
| |||||||
Total Repurchase Agreement | 6,092 | |||||||
|
| |||||||
Total Investments | 1,345,423 | |||||||
Liabilities in excess | (20,764 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 1,324,659 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $12,772 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio’s net assets. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
96
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The International Equity Portfolio | Artisan Partners LP | Cadence Capital Management, LLC | Causeway Capital Management LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 13.12 | % | 47.55 | % | 33.68 | % | — | — | 94.35 | % | ||||||||||||||
Preferred Stocks | 0.19 | % | 0.03 | % | 1.73 | % | — | — | 1.95 | % | ||||||||||||||
Time Deposit | 0.20 | % | — | 0.90 | % | — | — | 1.10 | % | |||||||||||||||
Mutual Funds | — | 1.76 | % | — | 1.95 | % | 0.00 | % | 3.71 | % | ||||||||||||||
Repurchase Agreement | — | 0.46 | % | — | — | — | 0.46 | % | ||||||||||||||||
Other Assets (Liabilities) | 0.05 | % | -1.97 | % | 0.07 | % | 0.28 | % | 0.00 | % | -1.57 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 13.56 | % | 47.83 | % | 36.38 | % | 2.23 | % | 0.00 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||
Mini MSCI EAFE Index Future | 515 | 3/16/18 | $ | 52,330 | $ | 52,672 | $ | 342 | ||||||||||||
|
|
|
|
|
| |||||||||||||||
$ | 52,330 | $ | 52,672 | $ | 342 | |||||||||||||||
|
|
|
|
|
|
Futures Contracts Sold^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Japanese Yen Future | 107 | 3/19/18 | $ | 11,923 | $ | 11,894 | $ | (29 | ) | |||||||||
|
|
|
|
|
| |||||||||||||
$ | 11,923 | $ | 11,894 | $ | (29 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 342 | ||||||||||||||||
Total Unrealized Depreciation | (29 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 313 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Forward Currency Contracts
Short Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
U.S. Dollar | 5,993 | Japanese Yen | 676,932 | Canaccord Capital | 1/5/18 | $ | (16 | ) | ||||||||||||
U.S. Dollar | 209 | Japanese Yen | 23,626 | State Street Corporation | 1/5/18 | (1 | ) | |||||||||||||
U.S. Dollar | 419 | Japanese Yen | 47,409 | Citibank | 1/4/18 | (2 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | (19 | ) | ||||||||||||||||||
|
|
See accompanying notes to financial statements.
97
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Long Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Japanese Yen | 8,789 | U.S. Dollar | 78 | Citibank | 1/9/18 | $ | — | |||||||||||||
Japanese Yen | 7,682 | �� | U.S. Dollar | 68 | State Street Corporation | 1/5/18 | — | |||||||||||||
|
| |||||||||||||||||||
$ | — | |||||||||||||||||||
|
| |||||||||||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||||||||
Total Unrealized Depreciation |
| (19 | ) | |||||||||||||||||
|
| |||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (19 | ) | ||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
98
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 90.67% | ||||||||
Australia — 4.78% | ||||||||
323,214 | AMP Ltd. (Diversified Financial Services) | $ | 1,304 | |||||
239,635 | APA Group (Gas Utilities) | 1,554 | ||||||
249,808 | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | 4,600 | ||||||
749,286 | Aurizon Holdings Ltd. (Road & Rail) | 2,887 | ||||||
392,002 | AusNet Services (Electric Utilities) | 551 | ||||||
500,132 | Australia & New Zealand Banking Group Ltd. (Banks) | 11,155 | ||||||
63,250 | Bank of Queensland Ltd. (Banks) | 625 | ||||||
78,652 | Bendigo & Adelaide Bank Ltd. (Banks) | 714 | ||||||
46,464 | BlueScope Steel Ltd. (Metals & Mining) | 553 | ||||||
16,524 | CIMIC Group Ltd. (Construction & Engineering) | 661 | ||||||
247,084 | Coca-Cola Amatil Ltd. (Beverages) | 1,637 | ||||||
19,104 | Cochlear Ltd. (Health Care Equipment & Supplies) | 2,546 | ||||||
294,542 | Commonwealth Bank of Australia (Banks) | 18,379 | ||||||
175,268 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 1,776 | ||||||
56,729 | CSL Ltd. (Biotechnology) | 6,233 | ||||||
216,993 | Dexus Property Group (Equity Real Estate Investment Trusts) | 1,646 | ||||||
304,993 | Fortescue Metals Group Ltd. (Metals & Mining) | 1,154 | ||||||
390,469 | GPT Group (Equity Real Estate Investment Trusts) | 1,553 | ||||||
242,018 | Harvey Norman Holdings Ltd. (Multiline Retail)^ | 785 | ||||||
398,129 | Insurance Australia Group Ltd. (Insurance) | 2,242 | ||||||
35,893 | Macquarie Group Ltd. (Capital Markets) | 2,776 | ||||||
819,506 | Mirvac Group (Equity Real Estate Investment Trusts) | 1,498 | ||||||
447,130 | National Australia Bank Ltd. (Banks) | 10,266 | ||||||
23,534 | Newcrest Mining Ltd. (Metals & Mining) | 419 | ||||||
204,298 | Platinum Asset Management Ltd. (Capital Markets) | 1,226 | ||||||
203,982 | Qantas Airways Ltd. (Airlines) | 800 | ||||||
232,035 | QBE Insurance Group Ltd. (Insurance) | 1,926 | ||||||
1,176,007 | Scentre Group (Equity Real Estate Investment Trusts) | 3,836 | ||||||
452,442 | South32 Ltd. (Metals & Mining) | 1,226 | ||||||
530,045 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 1,849 | ||||||
213,613 | Suncorp Group Ltd. (Insurance) | 2,301 | ||||||
486,397 | Sydney Airport (Transportation Infrastructure) | 2,668 | ||||||
814,301 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 3,532 | ||||||
981,467 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 2,774 | ||||||
744,910 | Vicinity Centres (Equity Real Estate Investment Trusts) | 1,577 | ||||||
316,927 | Wesfarmers Ltd. (Food & Staples Retailing) | 10,956 | ||||||
158,728 | Westfield Corp. (Equity Real Estate Investment Trusts) | 1,172 | ||||||
561,889 | Westpac Banking Corp. (Banks) | 13,664 | ||||||
|
| |||||||
127,021 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Austria — 0.08% | ||||||||
7,461 | ANDRITZ AG (Machinery) | $ | 421 | |||||
9,395 | Erste Group Bank AG (Banks) | 407 | ||||||
13,100 | OMV AG (Oil, Gas & Consumable Fuels) | 830 | ||||||
9,691 | Voestalpine AG (Metals & Mining) | 579 | ||||||
|
| |||||||
2,237 | ||||||||
|
| |||||||
Belgium — 0.55% | ||||||||
14,111 | Ageas (Insurance) | 689 | ||||||
99,802 | Anheuser-Busch InBev N.V. (Beverages) | 11,141 | ||||||
17,501 | Belgacom SA (Diversified Telecommunication Services) | 574 | ||||||
4,931 | Groupe Bruxelles Lambert SA (Diversified Financial Services) | 532 | ||||||
13,894 | KBC Groep N.V. (Banks) | 1,184 | ||||||
13,899 | Ontex Group N.V. (Personal Products) | 460 | ||||||
|
| |||||||
14,580 | ||||||||
|
| |||||||
Bermuda — 0.04% | ||||||||
282,500 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 1,109 | ||||||
|
| |||||||
Brazil — 0.02% | ||||||||
89,723 | Ambev SA, ADR (Beverages) | 580 | ||||||
|
| |||||||
Canada — 1.71% | ||||||||
13,798 | Canadian Imperial Bank of Commerce (Banks) | 1,345 | ||||||
58,465 | Canadian Pacific Railway Ltd. (Road & Rail) | 10,684 | ||||||
34,011 | Canadian Pacific Railway Ltd. (Road & Rail) | 6,216 | ||||||
930,305 | Encana Corp. (Oil, Gas & Consumable Fuels) | 12,413 | ||||||
216,659 | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | 7,001 | ||||||
373,300 | Manulife Financial Corp. (Insurance) | 7,788 | ||||||
|
| |||||||
45,447 | ||||||||
|
| |||||||
China — 1.23% | ||||||||
31,644 | Alibaba Group Holding Ltd., ADR (Internet Software & Services) (a) | 5,456 | ||||||
48,400 | Baidu, Inc., ADR (Internet Software & Services) (a) | 11,336 | ||||||
23 | China Literature Ltd. (Internet Software & Services) (a)(b) | — | ||||||
5,327,771 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 7,649 | ||||||
29,000 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 1,760 | ||||||
6,996 | NetEase, Inc., ADR (Internet Software & Services) | 2,414 | ||||||
228,000 | Ping An Insurance (Group) Company of China Ltd. (Insurance) | 2,365 | ||||||
57,200 | Sinopharm Group Co. (Health Care Providers & Services) | 246 | ||||||
29,500 | Tencent Holdings Ltd. (Internet Software & Services) | 1,527 | ||||||
|
| |||||||
32,753 | ||||||||
|
| |||||||
Curaçao — 0.08% | ||||||||
32,138 | Schlumberger Ltd. (Energy Equipment & Services) | 2,166 | ||||||
|
| |||||||
Denmark — 1.49% | ||||||||
69,462 | Danske Bank A/S (Banks) | 2,704 | ||||||
1,547 | Genmab A/S (Biotechnology) (a) | 257 | ||||||
42,620 | ISS A/S (Commercial Services & Supplies) | 1,650 | ||||||
544,890 | Novo Nordisk A/S, Class – B | $ | 29,286 |
See accompanying notes to financial statements.
99
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Denmark (continued) | ||||||||
130,288 | TDC A/S (Diversified Telecommunication Services) | $ | 801 | |||||
11,853 | Tryg A/S (Insurance) | 297 | ||||||
67,432 | Vestas Wind Systems A/S (Electrical Equipment) | 4,660 | ||||||
|
| |||||||
39,655 | ||||||||
|
| |||||||
Faroe Islands — 0.02% | ||||||||
11,980 | Bakkafrost P/F (Food Products) | 508 | ||||||
|
| |||||||
Finland — 0.45% | ||||||||
38,858 | Elisa Oyj (Diversified Telecommunication Services) | 1,524 | ||||||
122,822 | Fortum Oyj (Electric Utilities) | 2,431 | ||||||
64,145 | Nokian Renkaat Oyj (Auto Components) | 2,909 | ||||||
92,852 | Sampo Oyj, Class – A (Insurance) | 5,095 | ||||||
|
| |||||||
11,959 | ||||||||
|
| |||||||
France — 7.07% | ||||||||
65,540 | Air France – KLM (Airlines) (a) | 1,065 | ||||||
405,468 | AXA SA (Insurance) | 12,014 | ||||||
226,725 | BNP Paribas (Banks) | 16,865 | ||||||
69,330 | Bouygues SA (Construction & Engineering) | 3,597 | ||||||
175,914 | Carrefour SA (Food & Staples Retailing) | 3,792 | ||||||
17,051 | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | 1,034 | ||||||
21,244 | CNP Assurances (Insurance) | 490 | ||||||
248,784 | Credit Agricole SA (Banks) | 4,107 | ||||||
27,585 | Eiffage SA (Construction & Engineering) (c) | 3,019 | ||||||
582,085 | ENGIE (Multi-Utilities) | 10,006 | ||||||
55,977 | Eutelsat Communications (Media) | 1,296 | ||||||
14,049 | Faurecia (Auto Components) | 1,095 | ||||||
5,266 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 596 | ||||||
7,476 | Gecina SA (Equity Real Estate Investment Trusts) | 1,380 | ||||||
6,085 | Icade (Equity Real Estate Investment Trusts) | 598 | ||||||
4,871 | Ipsen SA (Pharmaceuticals) | 580 | ||||||
50,425 | Klepierre (Equity Real Estate Investment Trusts) | 2,216 | ||||||
37,753 | Lagardere SCA (Media) | 1,209 | ||||||
121,344 | Natixism SA (Banks) | 958 | ||||||
314,982 | Orange (Diversified Telecommunication Services) | 5,458 | ||||||
111,246 | Peugeot SA (Automobiles) | 2,259 | ||||||
63,326 | Publicis Groupe (Media) | 4,292 | ||||||
9,118 | Safran SA (Aerospace & Defense) | 940 | ||||||
290,409 | Sanofi-Aventis (Pharmaceuticals) | 24,998 | ||||||
390,364 | Schneider Electric SA (Electrical Equipment) | 33,090 | ||||||
21,806 | SCOR SE (Insurance) | 876 | ||||||
8,814 | Societe BIC SA (Commercial Services & Supplies) | 969 | ||||||
170,111 | Societe Generale (Banks) | 8,769 | ||||||
60,500 | Suez Environnement Co. (Multi-Utilities) | 1,063 | ||||||
585,303 | Total SA (Oil, Gas & Consumable Fuels)^ | 32,305 | ||||||
17,772 | Unibail-Rodamco SE (Equity Real Estate Investment Trusts) | 4,472 |
Shares | Security Description | Value (000) | ||||||
France (continued) | ||||||||
9,223 | Valeo SA (Auto Components) | $ | 687 | |||||
76,217 | Veolia Environnement (Multi-Utilities) | 1,943 | ||||||
|
| |||||||
188,038 | ||||||||
|
| |||||||
Germany — 9.18% | ||||||||
83,956 | Allianz SE (Insurance) | 19,211 | ||||||
10,085 | Axel Springer AG (Media) | 786 | ||||||
316,141 | BASF SE (Chemicals) | 34,656 | ||||||
9,977 | Bayer AG (Pharmaceuticals) | 1,240 | ||||||
71,651 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 7,428 | ||||||
38,948 | Beiersdorf AG (Personal Products) | 4,565 | ||||||
17,497 | Continental AG (Auto Components) | 4,704 | ||||||
37,365 | Covestro AG (Chemicals) | 3,847 | ||||||
200,917 | Daimler AG, Registered Shares (Automobiles) | 16,988 | ||||||
112,832 | Deutsche Boerse AG (Capital Markets) | 13,058 | ||||||
135,170 | Deutsche Lufthansa AG, Registered Shares (Airlines) | 4,963 | ||||||
343,818 | Deutsche Post AG (Air Freight & Logistics) | 16,341 | ||||||
619,679 | Deutsche Telekom AG (Diversified Telecommunication Services) | 10,953 | ||||||
4,866 | Drillisch AG (Wireless Telecommunication Services) | 401 | ||||||
85,782 | E.ON AG (Multi-Utilities) | 929 | ||||||
35,863 | Evonik Industries AG (Chemicals) | 1,347 | ||||||
4,678 | Hannover Rueckversicherung AG (Insurance) | 587 | ||||||
13,197 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 1,120 | ||||||
22,990 | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | 626 | ||||||
14,804 | Innogy SE (Multi-Utilities) | 579 | ||||||
106,287 | Linde AG (Chemicals) (a) | 24,820 | ||||||
7,509 | MAN SE (Machinery) | 859 | ||||||
38,024 | Metro AG (Food & Staples Retailing) (a) | 757 | ||||||
12,510 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 2,701 | ||||||
54,506 | ProSiebenSat.1 Media AG (Media) | 1,871 | ||||||
8,027 | Rheinmetall AG (Industrial Conglomerates) | 1,015 | ||||||
66,970 | RWE AG (Multi-Utilities) | 1,363 | ||||||
293,213 | SAP SE (Software) | 32,799 | ||||||
33,722 | Schaeffler AG (Auto Components) | 595 | ||||||
122,970 | Siemens AG (Industrial Conglomerates) | 17,024 | ||||||
7,108 | Siltronic AG (Semiconductors & Semiconductor Equipment) (a) | 1,028 | ||||||
75,824 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 379 | ||||||
130,007 | TUI AG (Hotels, Restaurants & Leisure) | 2,693 | ||||||
8,504 | United Internet AG (Internet Software & Services) | 583 | ||||||
50,632 | Vonovia SE (Real Estate Management & Development) | 2,508 | ||||||
76,967 | Wirecard AG (IT Services) | 8,553 | ||||||
|
| |||||||
243,877 | ||||||||
|
| |||||||
Hong Kong — 2.71% | ||||||||
547,005 | BOC Hong Kong (Holdings) Ltd. (Banks) | 2,764 | ||||||
34,483 | China Cord Blood Corp. (Health Care Providers & Services) (a) | 343 |
See accompanying notes to financial statements.
100
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) | ||||||||
1,004,827 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | $ | 2,625 | |||||
1,373,482 | China Mobile Ltd. (Wireless Telecommunication Services) | 13,889 | ||||||
130,500 | CK Asset Holdings Limited (Real Estate Management & Development) | 1,138 | ||||||
604,000 | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | 7,569 | ||||||
136,500 | CK Infrastructure Holdings Ltd. (Electric Utilities) | 1,171 | ||||||
285,419 | CLP Holdings Ltd. (Electric Utilities) | 2,921 | ||||||
588,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) (a) | — | ||||||
445,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 1,084 | ||||||
108,809 | Hang Seng Bank Ltd. (Banks) | 2,700 | ||||||
248,740 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 1,636 | ||||||
590,877 | HK Electric Investments Ltd. (Electric Utilities) | 541 | ||||||
787,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 1,003 | ||||||
186,900 | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | 1,315 | ||||||
130,000 | Hysan Development Co. (Real Estate Management & Development) | 690 | ||||||
142,000 | Kerry Properties Ltd. (Real Estate Management & Development) | 638 | ||||||
2,276,000 | Li & Fung Ltd. (Textiles, Apparel & Luxury Goods) | 1,247 | ||||||
1,181,000 | New World Development Co. Ltd. (Real Estate Management & Development) | 1,770 | ||||||
306,000 | NWS Holdings Ltd. (Industrial Conglomerates) | 551 | ||||||
890,000 | PCCW Ltd. (Diversified Telecommunication Services) | 517 | ||||||
286,538 | Power Assets Holdings Ltd. (Electric Utilities) | 2,415 | ||||||
581,839 | Sino Land Co. Ltd. (Real Estate Management & Development) | 1,029 | ||||||
784,000 | SJM Holdings Ltd. (Hotels, Restaurants & Leisure) | 701 | ||||||
303,040 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 5,044 | ||||||
115,826 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 1,072 | ||||||
231,200 | Swire Properties Ltd. (Real Estate Management & Development) | 746 | ||||||
146,600 | The Bank of East Asia Ltd. (Banks) | 634 | ||||||
441,826 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 4,088 | ||||||
722,000 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 2,490 | ||||||
3,596,500 | WH Group Ltd. (Food Products) | 4,060 | ||||||
412,000 | Wharf Real Estate Investment Co. Ltd. (Real Estate Management & Development) (a) | 2,741 | ||||||
113,000 | Wheelock & Co. Ltd. (Real Estate Management & Development) | 806 | ||||||
|
| |||||||
71,938 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Indonesia — 0.04% | ||||||||
3,980,500 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | $ | 1,068 | |||||
|
| |||||||
Ireland (Republic of) — 0.56% | ||||||||
105,913 | CRH PLC (Construction Materials) | 3,812 | ||||||
116,364 | Experian PLC (Professional Services) | 2,564 | ||||||
10,775 | ICON PLC (Life Sciences Tools & Services) (a) | 1,208 | ||||||
75,171 | Medtronic PLC (Health Care Equipment & Supplies) | 6,071 | ||||||
9,471 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 1,127 | ||||||
|
| |||||||
14,782 | ||||||||
|
| |||||||
Israel — 0.35% | ||||||||
4,209 | Azrieli Group (Real Estate Management & Development) | 236 | ||||||
308,142 | Bank Hapoalim Ltd. (Banks) | 2,266 | ||||||
921,945 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 1,396 | ||||||
4,565 | Elbit Systems Ltd. (Aerospace & Defense) | 611 | ||||||
460,271 | Israel Chemicals Ltd. (Chemicals) | 1,866 | ||||||
64,406 | Teva Pharmaceutical Industries Ltd. (Pharmaceuticals) | 1,220 | ||||||
95,750 | Teva Pharmaceutical Industries Ltd., ADR (Pharmaceuticals) | 1,813 | ||||||
|
| |||||||
9,408 | ||||||||
|
| |||||||
Italy — 1.83% | ||||||||
388,727 | Assicurazioni Generali SpA (Insurance) | 7,074 | ||||||
91,068 | Atlantia SpA (Transportation Infrastructure) | 2,871 | ||||||
32,000 | Banca Generali SpA (Capital Markets) | 1,063 | ||||||
566,527 | Eni SpA (Oil, Gas & Consumable Fuels) | 9,374 | ||||||
3,169,936 | Intesa Sanpaolo SpA (Banks) | 10,516 | ||||||
90,039 | Intesa Sanpaolo SpA (Banks) | 287 | ||||||
40,960 | Mediobanca SpA (Banks) | 464 | ||||||
50,947 | Poste Italiane SpA (Insurance)^ | 384 | ||||||
532,840 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 2,609 | ||||||
784,189 | Telecom Italia SpA (Diversified Telecommunication Services) | 556 | ||||||
161,307 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 938 | ||||||
655,635 | Unicredit SpA (Banks)(a) | 12,229 | ||||||
108,158 | UnipolSai SpA (Insurance) | 252 | ||||||
|
| |||||||
48,617 | ||||||||
|
| |||||||
Japan — 19.93% | ||||||||
8,300 | ABC-Mart, Inc. (Specialty Retail) | 476 | ||||||
25,600 | Adastria Co. Ltd. (Specialty Retail) | 517 | ||||||
10,700 | AEON Credit Service Co. Ltd. (Consumer Finance) | 249 | ||||||
45,200 | Aisin Seiki Co. Ltd. (Auto Components) | 2,533 | ||||||
91,100 | Amada Holdings Co. Ltd. (Machinery) | 1,237 | ||||||
11,800 | Aozora Bank Ltd. (Banks) | 458 | ||||||
154,815 | Asahi Glass Co. Ltd. (Building Products) | 6,693 | ||||||
555,700 | Astellas Pharma, Inc. (Pharmaceuticals) | 7,060 | ||||||
19,249 | Benesse Holdings, Inc. (Diversified Consumer Services) | 677 | ||||||
169,500 | Bridgestone Corp. (Auto Components)^ | 7,846 |
See accompanying notes to financial statements.
101
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The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
62,200 | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | $ | 1,529 | |||||
76,000 | CALBEE, Inc. (Food Products) | 2,470 | ||||||
358,467 | Canon, Inc. (Technology Hardware, Storage & Peripherals) | 13,359 | ||||||
61,600 | Casio Computer Co. Ltd. (Household Durables) | 884 | ||||||
85,600 | Chubu Electric Power Company, Inc. (Electric Utilities) | 1,062 | ||||||
66,539 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 1,481 | ||||||
74,000 | Daicel Corp. (Chemicals) | 840 | ||||||
155,291 | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | 4,038 | ||||||
15,767 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 3,213 | ||||||
166,900 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 6,401 | ||||||
201 | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | 478 | ||||||
110,000 | Daiwa Securities Group, Inc. (Capital Markets) | 688 | ||||||
126,600 | Denso Corp. (Auto Components) | 7,585 | ||||||
134,700 | East Japan Railway Co. (Road & Rail) | 13,137 | ||||||
69,271 | Eisai Co. Ltd. (Pharmaceuticals) | 3,936 | ||||||
19,500 | Electric Power Development Co. Ltd. (Independent Power & Renewable Electricity Producers) | 525 | ||||||
10,500 | Fanuc Ltd. (Machinery) | 2,519 | ||||||
21,700 | Ferrotec Corp. (Semiconductors & Semiconductor Equipment) | 440 | ||||||
162,794 | Fuji Heavy Industries Ltd. (Automobiles) | 5,163 | ||||||
634,000 | Fujitsu Ltd. (IT Services) | 4,495 | ||||||
82,000 | Fukuoka Financial Group, Inc. (Banks) | 459 | ||||||
124,500 | HASEKO Corp. (Household Durables) | 1,930 | ||||||
64,900 | Hino Motors Ltd. (Machinery) | 838 | ||||||
26,900 | Hitachi Chemical Co. Ltd. (Chemicals) | 689 | ||||||
2,182,000 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 16,930 | ||||||
439,824 | Honda Motor Co. Ltd. (Automobiles) | 15,012 | ||||||
40,400 | Iida Group Holdings Co. Ltd. (Household Durables) | 761 | ||||||
156,600 | Isuzu Motors Ltd. (Automobiles) | 2,615 | ||||||
388,268 | ITOCHU Corp. (Trading Companies & Distributors) | 7,239 | ||||||
39,000 | ITOCHU Techno-Solutions Corp. (IT Services) | 1,692 | ||||||
18,100 | JAC Recruitment Co. Ltd. (Professional Services) | 351 | ||||||
356,900 | Japan Airlines Co. Ltd. (Airlines) | 13,946 | ||||||
34,500 | Japan Exchange Group, Inc. (Capital Markets) | 599 | ||||||
42,400 | Japan Post Bank Co. Ltd. (Banks) | 551 | ||||||
153,500 | Japan Post Holdings Co. Ltd. (Insurance) | 1,758 | ||||||
107 | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | 340 | ||||||
165 | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | 784 | ||||||
339 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 621 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
458,982 | Japan Tobacco, Inc. (Tobacco) | $ | 14,783 | |||||
69,945 | JS Group Corp. (Building Products) | 1,890 | ||||||
49,583 | JSR Corp. (Chemicals) | 974 | ||||||
63,100 | JTEKT Corp. (Machinery) | 1,081 | ||||||
937,118 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 6,023 | ||||||
228,000 | Kajima Corp. (Construction & Engineering) | 2,191 | ||||||
28,600 | Kakaku.com, Inc. (Internet Software & Services) | 483 | ||||||
14,100 | Kanamoto Co. Ltd. (Trading Companies & Distributors) | 436 | ||||||
78,000 | Kaneka Corp. (Chemicals) | 711 | ||||||
18,300 | Kao Corp. (Personal Products) | 1,237 | ||||||
812,000 | KDDI Corp. (Wireless Telecommunication Services) | 20,173 | ||||||
10,600 | Kobe Bussan Co. Ltd. (Food & Staples Retailing) | 406 | ||||||
439,100 | Komatsu Ltd. (Machinery) | 15,872 | ||||||
126,200 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 1,211 | ||||||
94,829 | Kuraray Co. Ltd. (Chemicals) | 1,786 | ||||||
85,000 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 5,550 | ||||||
42,600 | Kyushu Electric Power Co., Inc. (Electric Utilities) | 446 | ||||||
15,126 | Lawson, Inc. (Food & Staples Retailing) | 1,005 | ||||||
90,000 | Maeda Corp. (Construction & Engineering) | 1,239 | ||||||
419,331 | Marubeni Corp. (Trading Companies & Distributors) | 3,032 | ||||||
37,700 | Maruha Nichiro Corp. (Food Products) | 1,137 | ||||||
56,400 | Marui Group Co. Ltd. (Multiline Retail) | 1,031 | ||||||
15,277 | Maruichi Steel Tube Ltd. (Metals & Mining) | 446 | ||||||
97,800 | Mebuki Financial Group, Inc. (Banks) | 413 | ||||||
533,300 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 5,835 | ||||||
389,140 | Mitsubishi Corp. (Trading Companies & Distributors) | 10,731 | ||||||
84,700 | Mitsubishi Heavy Industries Ltd. (Machinery) | 3,159 | ||||||
55,843 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 1,151 | ||||||
2,603,482 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 18,950 | ||||||
25,700 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 153 | ||||||
435,726 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 7,070 | ||||||
46,800 | Mitsui Chemicals, Inc. (Chemicals) | 1,501 | ||||||
11,900 | Mixi, Inc. (Internet Software & Services) | 533 | ||||||
2,370,392 | Mizuho Financial Group, Inc. (Banks) | 4,286 | ||||||
37,500 | Morinaga Milk Industry Co. Ltd. (Food Products) | 1,698 | ||||||
77,800 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 2,625 | ||||||
64,900 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 1,748 | ||||||
15,600 | Nintendo Co. Ltd. (Software) | 5,619 | ||||||
188 | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | 919 | ||||||
126,500 | Nippon Denko Co. Ltd. (Metals & Mining)^ | 526 |
See accompanying notes to financial statements.
102
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HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) | ||||||||
22,600 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | $ | 860 | |||||
91,800 | Nippon Light Metal Holdings Co. (Metals & Mining) | 261 | ||||||
244 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 516 | ||||||
6,500 | Nippon Shinyaku Co. Ltd. (Pharmaceuticals) | 484 | ||||||
204,200 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 5,218 | ||||||
154,500 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 7,265 | ||||||
53,000 | Nishimatsu Construction Co. Ltd. (Construction & Engineering) | 1,483 | ||||||
973,879 | Nissan Motor Co. Ltd. (Automobiles) | 9,697 | ||||||
26,900 | NOK Corp. (Auto Components) | 626 | ||||||
189,300 | Nomura Holdings, Inc. (Capital Markets) | 1,110 | ||||||
16,800 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 375 | ||||||
538 | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | 668 | ||||||
33,100 | Nomura Research Institute Ltd. (IT Services) | 1,537 | ||||||
288,470 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 6,821 | ||||||
166,200 | Obayashi Corp. (Construction & Engineering) | 2,008 | ||||||
16,300 | OBIC Co. Ltd. (IT Services) | 1,197 | ||||||
51,100 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 3,040 | ||||||
254,100 | ORIX Corp. (Diversified Financial Services) | 4,284 | ||||||
47,795 | Osaka Gas Co. Ltd. (Gas Utilities) | 919 | ||||||
13,600 | OTSUKA Corp. (IT Services) | 1,042 | ||||||
103,881 | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | 4,557 | ||||||
29,100 | Park24 Co. Ltd. (Commercial Services & Supplies) | 697 | ||||||
89,200 | Penta-Ocean Construction Co. Ltd. (Construction & Engineering) | 665 | ||||||
174,000 | Prima Meat Packers Ltd. (Food Products) | 1,276 | ||||||
215,985 | Resona Holdings, Inc. (Banks) | 1,287 | ||||||
180,000 | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | 1,668 | ||||||
22,200 | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | 2,446 | ||||||
13,504 | Sankyo Co. Ltd. (Leisure Products) | 425 | ||||||
113,000 | SBI Holdings, Inc. (Capital Markets) | 2,354 | ||||||
51,200 | Sega Sammy Holdings, Inc. (Leisure Products) | 635 | ||||||
71,069 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 1,673 | ||||||
152,865 | Sekisui House Ltd. (Household Durables) | 2,757 | ||||||
190,800 | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | 7,905 | ||||||
54,100 | Seven Bank Ltd. (Banks) | 185 | ||||||
19,300 | Shionogi & Co. Ltd. (Pharmaceuticals) | 1,043 | ||||||
54,700 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels)^ | 740 | ||||||
160,800 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 6,207 | ||||||
19,200 | Sony Financial Holdings, Inc. (Insurance) | 339 | ||||||
36,300 | Start Today Co. Ltd. (Internet & Direct Marketing Retail) | 1,102 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) | ||||||||
425,000 | Sumitomo Chemical Co. Ltd. (Chemicals) | $ | 3,042 | |||||
300,100 | Sumitomo Corp. (Trading Companies & Distributors) | 5,091 | ||||||
200,500 | Sumitomo Electric Industries Ltd. (Auto Components) | 3,380 | ||||||
76,089 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 3,482 | ||||||
292,323 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 12,602 | ||||||
33,400 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 1,322 | ||||||
48,331 | Sumitomo Rubber Industries Ltd. (Auto Components)^ | 896 | ||||||
54,800 | T&D Holdings, Inc. (Insurance) | 935 | ||||||
10,800 | Taisei Corp. (Construction & Engineering) | 537 | ||||||
411,385 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 23,294 | ||||||
121,500 | Teijin Ltd. (Chemicals) | 2,700 | ||||||
75,000 | The Chiba Bank Ltd. (Banks) | 622 | ||||||
35,700 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | 383 | ||||||
101,900 | The Dai-ichi Life Insurance Co. Ltd. (Insurance) | 2,095 | ||||||
87,200 | The Kansai Electric Power Co., Inc. (Electric Utilities) | 1,067 | ||||||
53,000 | The Shizuoka Bank Ltd. (Banks) | 546 | ||||||
31,300 | The Yokohama Rubber Co. Ltd. (Auto Components) | 765 | ||||||
15,900 | THK Co. Ltd. (Machinery) | 594 | ||||||
57,000 | Tohoku Electric Power Co., Inc. (Electric Utilities) | 728 | ||||||
65,700 | Tokio Marine Holdings, Inc. (Insurance) | 2,989 | ||||||
55,500 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 10,013 | ||||||
51,000 | Tokyo Gas Co. Ltd. (Gas Utilities) | 1,166 | ||||||
112,300 | Toyo Construction Co. Ltd. (Construction & Engineering) | 655 | ||||||
32,500 | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | 522 | ||||||
17,500 | Toyoda Gosei Co. Ltd. (Auto Components) | 444 | ||||||
42,200 | Toyota Industries Corp. (Auto Components) | 2,705 | ||||||
368,800 | Toyota Motor Corp. (Automobiles) | 23,507 | ||||||
55,600 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 2,234 | ||||||
30,600 | Trend Micro, Inc. (Software) | 1,732 | ||||||
392 | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | 564 | ||||||
56,700 | USS Co. Ltd. (Specialty Retail) | 1,200 | ||||||
1,500 | V Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 242 | ||||||
40,700 | West Japan Railway Co. (Road & Rail) | 2,970 | ||||||
372,700 | Yahoo Japan Corp. (Internet Software & Services) | 1,708 | ||||||
160,200 | Yamada Denki Co. Ltd. (Specialty Retail)^ | 882 | ||||||
76,600 | Yamaha Motor Co. Ltd. (Automobiles) | 2,510 | ||||||
36,600 | Yaskawa Electric Corp. (Electronic Equipment, Instruments & Components) | 1,604 | ||||||
60,100 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 1,148 | ||||||
|
| |||||||
529,412 | ||||||||
|
|
See accompanying notes to financial statements.
103
Table of Contents
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The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Jersey — 0.57% | ||||||||
57,953 | Ferguson PLC (Trading Companies & Distributors) | $ | 4,158 | |||||
870,949 | Glencore International PLC (Metals & Mining) | 4,558 | ||||||
360,215 | WPP PLC (Media) | 6,506 | ||||||
|
| |||||||
15,222 | ||||||||
|
| |||||||
Luxembourg — 0.25% | ||||||||
59,979 | ArcelorMittal (Metals & Mining) (a) | 1,946 | ||||||
259,046 | B&M European Value Retail SA (Multiline Retail) | 1,478 | ||||||
11,952 | Millicom International Cellular SA (Wireless Telecommunication Services) | 807 | ||||||
8,255 | RTL Group (Media) | 663 | ||||||
108,752 | SES – FDR, Class – A (Media) | 1,697 | ||||||
|
| |||||||
6,591 | ||||||||
|
| |||||||
Netherlands — 2.94% | ||||||||
25,934 | ABN AMRO Group N.V. (Banks) | 836 | ||||||
308,126 | AEGON N.V. (Insurance) | 1,957 | ||||||
36,783 | Airbus Group N.V. (Aerospace & Defense) | 3,655 | ||||||
146,350 | Akzo Nobel N.V. (Chemicals) | 12,840 | ||||||
20,346 | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | 3,537 | ||||||
829,456 | ING Groep N.V. (Banks) | 15,224 | ||||||
270,919 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 946 | ||||||
203,168 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 4,466 | ||||||
14,699 | Koninklijke Boskalis Westminster N.V. (Construction & Engineering) | 554 | ||||||
29,083 | Koninklijke DSM N.V. (Chemicals) | 2,778 | ||||||
152,537 | Koninklijke Philips Electronics N.V. (Industrial Conglomerates) | 5,759 | ||||||
11,150 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 488 | ||||||
18,787 | NN Group N.V. (Insurance) | 813 | ||||||
18,886 | Randstad Holding N.V. (Professional Services) | 1,159 | ||||||
23,970 | STMicroelectronics N.V. (Semiconductors & Semiconductor Equipment) | 523 | ||||||
355,015 | Unilever N.V. (Personal Products) | 19,985 | ||||||
49,674 | Wolters Kluwer N.V. (Professional Services) | 2,589 | ||||||
|
| |||||||
78,109 | ||||||||
|
| |||||||
New Zealand — 0.17% | ||||||||
133,912 | A2 Milk Co. Ltd. (Food Products) (a) | 766 | ||||||
326,237 | Fletcher Building Ltd. (Construction Materials) | 1,756 | ||||||
241,717 | Meridian Energy Ltd. (Independent Power & Renewable Electricity Producers) | 501 | ||||||
588,304 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 1,513 | ||||||
|
| |||||||
4,536 | ||||||||
|
| |||||||
Norway — 0.73% | ||||||||
43,833 | Aker BP ASA (Oil, Gas & Consumable Fuels) | 1,080 | ||||||
23,283 | Gjensidige Forsikring ASA (Insurance) | 439 | ||||||
106,579 | Marine Harvest ASA (Food Products) | 1,803 | ||||||
16,472 | Salmar ASA (Food Products) | 495 | ||||||
589,958 | Statoil ASA (Oil, Gas & Consumable Fuels) | 12,635 | ||||||
136,508 | Telenor ASA (Diversified Telecommunication Services) | 2,923 | ||||||
|
| |||||||
19,375 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Portugal — 0.16% | ||||||||
966,178 | EDP – Energias de Portugal SA (Electric Utilities) | $ | 3,344 | |||||
47,095 | Jeronimo Martins, SGPS, SA (Food & Staples Retailing) | 915 | ||||||
|
| |||||||
4,259 | ||||||||
|
| |||||||
Russia — 0.07% | ||||||||
99,473 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | 1,881 | ||||||
|
| |||||||
Singapore — 1.06% | ||||||||
692,600 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 1,406 | ||||||
605,809 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 873 | ||||||
741,600 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 1,180 | ||||||
1,240,900 | ComfortDelGro Corp. Ltd. (Road & Rail) | 1,834 | ||||||
1,887,000 | Hutchison Port Holdings Trust (Transportation Infrastructure) | 781 | ||||||
642,300 | Oversea-Chinese Banking Corp. Ltd. (Banks) | 5,935 | ||||||
347,700 | SATS Ltd. (Transportation Infrastructure) | 1,352 | ||||||
115,900 | Singapore Exchange Ltd. (Capital Markets) | 644 | ||||||
759,547 | Singapore Press Holdings Ltd. (Media) | 1,503 | ||||||
667,400 | Singapore Tech Engineering (Aerospace & Defense) | 1,624 | ||||||
2,300,310 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 6,135 | ||||||
677,180 | Suntec REIT (Equity Real Estate Investment Trusts) | 1,086 | ||||||
100,100 | United Overseas Bank Ltd. (Banks) | 1,974 | ||||||
92,500 | United Overseas Land Ltd. (Real Estate Management & Development) | 612 | ||||||
84,200 | Venture Corp. Ltd. (Electronic Equipment, Instruments & Components) | 1,286 | ||||||
|
| |||||||
28,225 | ||||||||
|
| |||||||
South Africa — 0.04% | ||||||||
3,914 | Naspers Ltd. (Media) | 1,088 | ||||||
|
| |||||||
South Korea — 0.98% | ||||||||
713 | LG Household & Health Care Ltd. (Personal Products) | 792 | ||||||
5,467 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 12,991 | ||||||
49,262 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 12,288 | ||||||
|
| |||||||
26,071 | ||||||||
|
| |||||||
Spain — 1.96% | ||||||||
214,415 | Abertis Infraestructuras SA (Transportation Infrastructure) | 4,770 | ||||||
6,769 | Amadeus IT Holding SA, A Shares (IT Services) | 487 | ||||||
955,465 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 8,119 | ||||||
725,921 | Banco Santander SA (Banks) | 4,759 | ||||||
719,710 | CaixaBank SA (Banks) | 3,345 | ||||||
111,909 | Corporacion Mapfre (Insurance) | 359 | ||||||
68,264 | Enagas (Oil, Gas & Consumable Fuels) | 1,952 | ||||||
48,426 | Endesa (Electric Utilities) | 1,036 | ||||||
52,062 | Gas Natural SDG SA (Gas Utilities) | 1,201 | ||||||
83,002 | Grifols SA, ADR (Biotechnology) | 1,903 | ||||||
42,835 | Grifols SA (Biotechnology) | 1,252 |
See accompanying notes to financial statements.
104
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Spain (continued) | ||||||||
854,221 | Iberdrola SA (Electric Utilities) | $ | 6,611 | |||||
14,258 | Industria de Diseno Textil SA (Specialty Retail) | 496 | ||||||
82,633 | Red Electrica Corp. (Electric Utilities) | 1,855 | ||||||
371,971 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 6,567 | ||||||
768,014 | Telefonica SA (Diversified Telecommunication Services) | 7,478 | ||||||
|
| |||||||
52,190 | ||||||||
|
| |||||||
Sweden — 2.00% | ||||||||
210,384 | Alfa Laval AB (Machinery) | 4,978 | ||||||
6,763 | Atlas Copco AB (Machinery) | 292 | ||||||
102,692 | Electrolux AB, B Shares (Household Durables) | 3,308 | ||||||
335,292 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 6,938 | ||||||
72,241 | Hexagon AB (Electronic Equipment, Instruments & Components) | 3,625 | ||||||
46,022 | Husqvarna AB (Household Durables) | 438 | ||||||
28,999 | ICA Gruppen AB (Food & Staples Retailing) | 1,054 | ||||||
443,987 | Nordea Bank AB (Banks) | 5,377 | ||||||
74,195 | Sandvik AB (Machinery) | 1,299 | ||||||
224,294 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 2,635 | ||||||
122,052 | Skanska AB, B Shares (Construction & Engineering) | 2,530 | ||||||
222,556 | Svenska Handelsbanken AB, A Shares (Banks) | 3,043 | ||||||
135,336 | Swedbank AB, A Shares (Banks) | 3,266 | ||||||
72,088 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 886 | ||||||
1,258,694 | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | 8,310 | ||||||
493,166 | TeliaSonera AB (Diversified Telecommunication Services) | 2,199 | ||||||
163,446 | Volvo AB, B Shares (Machinery) | 3,045 | ||||||
|
| |||||||
53,223 | ||||||||
|
| |||||||
Switzerland — 8.58% | ||||||||
1,353,356 | ABB Ltd., Registered Shares (Electrical Equipment) | 36,257 | ||||||
99,034 | Adecco SA, Registered Shares (Professional Services) | 7,570 | ||||||
148,712 | Aryzta AG (Food Products) | 5,900 | ||||||
7,418 | Baloise Holding AG, Registered Shares (Insurance) | 1,153 | ||||||
136,109 | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | 12,330 | ||||||
267,363 | Credit Suisse Group AG (Capital Markets) | 4,770 | ||||||
11,893 | Idorsia Ltd. (Biotechnology) | 311 | ||||||
21,177 | Kuehne & Nagel International Ltd. (Marine) | 3,748 | ||||||
186,779 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 10,522 | ||||||
22,339 | Logitech International S.A. (Technology Hardware, Storage & Peripherals) | 753 | ||||||
154,954 | Nestle SA (Food Products) | 13,326 | ||||||
484,419 | Novartis AG, Registered Shares (Pharmaceuticals) | 40,776 |
Shares | Security Description | Value (000) | ||||||
Switzerland (continued) | ||||||||
3,808 | Pargesa Holding SA (Diversified Financial Services) | $ | 330 | |||||
2,489 | Partners Group Holding AG (Capital Markets) | 1,706 | ||||||
199,138 | Roche Holding AG (Pharmaceuticals) | 50,365 | ||||||
2,267 | Roche Holding AG (Pharmaceuticals) | 572 | ||||||
2,185 | SGS SA, Registered Shares (Professional Services) | 5,698 | ||||||
7,985 | Swiss Life Holding AG (Insurance) | 2,823 | ||||||
14,272 | Swiss Prime Site AG (Real Estate Management & Development) | 1,319 | ||||||
47,633 | Swiss Re AG (Insurance) | 4,456 | ||||||
5,104 | Swisscom AG (Diversified Telecommunication Services) | 2,715 | ||||||
361,268 | UBS Group AG (Capital Markets) | 6,639 | ||||||
46,446 | Zurich Financial Services AG (Insurance) | 14,126 | ||||||
|
| |||||||
228,165 | ||||||||
|
| |||||||
United Kingdom — 18.54% | ||||||||
89,665 | Admiral Group PLC (Insurance) | 2,418 | ||||||
34,401 | Aon PLC (Insurance) | 4,610 | ||||||
52,482 | Ashtead Group PLC (Trading Companies & Distributors) | 1,407 | ||||||
40,825 | Associated British Foods PLC (Food Products) | 1,554 | ||||||
544,396 | AstraZeneca PLC (Pharmaceuticals) | 37,558 | ||||||
1,967,169 | Aviva PLC (Insurance) | 13,415 | ||||||
70,908 | Babcock International Group PLC (Commercial Services & Supplies) | 675 | ||||||
1,233,811 | BAE Systems PLC (Aerospace & Defense) | 9,531 | ||||||
1,378,420 | Balfour Beatty PLC (Construction & Engineering) | 5,512 | ||||||
6,321,140 | Barclays PLC (Banks) | 17,300 | ||||||
291,421 | Barratt Developments PLC (Household Durables) | 2,542 | ||||||
850,249 | BHP Billiton PLC (Metals & Mining) | 17,189 | ||||||
5,458,323 | BP PLC (Oil, Gas & Consumable Fuels) | 38,283 | ||||||
258,766 | British American Tobacco PLC (Tobacco) | 17,489 | ||||||
142,533 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 1,327 | ||||||
1,195,953 | BT Group PLC (Diversified Telecommunication Services) | 4,386 | ||||||
185,978 | Capita PLC (Professional Services) | 1,005 | ||||||
167,522 | Carnival PLC (Hotels, Restaurants & Leisure) | 11,021 | ||||||
1,331,252 | Centrica PLC (Multi-Utilities) | 2,467 | ||||||
3,767,686 | Cobham PLC (Aerospace & Defense) (a) | 6,424 | ||||||
149,679 | Coca-Cola European Partners PLC (Beverages) | 5,964 | ||||||
946,092 | ConvaTec Group PLC (Health Care Equipment & Supplies)(c) | 2,609 | ||||||
73,116 | Crest Nicholson Holdings PLC (Household Durables) | 538 | ||||||
155,531 | Diageo PLC (Beverages) | 5,700 | ||||||
148,135 | Direct Line Insurance Group PLC (Insurance) | 762 | ||||||
44,929 | easyJet PLC (Airlines) | 888 | ||||||
271,790 | Evraz PLC (Metals & Mining) | 1,247 | ||||||
41,800 | Fevertree Drinks PLC (Beverages) | 1,285 |
See accompanying notes to financial statements.
105
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HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom (continued) | ||||||||
456,666 | G4S PLC (Commercial Services & Supplies) | $ | 1,644 | |||||
1,925,469 | GlaxoSmithKline PLC (Pharmaceuticals) | 34,092 | ||||||
116,141 | Hammerson PLC (Equity Real Estate Investment Trusts) | 857 | ||||||
32,618 | Hargreaves Lansdown PLC (Capital Markets) | 792 | ||||||
137,575 | Howden Joinery Group PLC (Trading Companies & Distributors) | 866 | ||||||
2,204,766 | HSBC Holdings PLC (Banks) | 22,767 | ||||||
300,560 | Imperial Tobacco Group PLC (Tobacco) | 12,818 | ||||||
369,037 | International Consolidated Airlines Group SA (Airlines) | 3,198 | ||||||
46,795 | Investec PLC (Capital Markets) | 337 | ||||||
243,392 | IQE PLC (Semiconductors & Semiconductor Equipment)^ (a) | 450 | ||||||
1,019,175 | ITV PLC (Media) | 2,277 | ||||||
467,568 | J Sainsbury PLC (Food & Staples Retailing) | 1,522 | ||||||
107,269 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 1,457 | ||||||
648,242 | Legal & General Group PLC (Insurance) | 2,386 | ||||||
51,269 | Liberty Global PLC, Class – A (Media) (a) | 1,837 | ||||||
100,216 | Liberty Global PLC, Class – C (Media) (a) | 3,391 | ||||||
18,934,428 | Lloyds Banking Group PLC (Banks) | 17,359 | ||||||
35,244 | London Stock Exchange Group (Capital Markets) | 1,802 | ||||||
456,187 | Marks & Spencer Group PLC (Multiline Retail) | 1,935 | ||||||
94,011 | Micro Focus International PLC (Software) | 3,195 | ||||||
496,944 | National Grid PLC (Multi-Utilities) | 5,857 | ||||||
41,385 | Next PLC (Multiline Retail) | 2,522 | ||||||
241,480 | Pearson PLC (Media) | 2,392 | ||||||
134,154 | Persimmon PLC (Household Durables) | 4,959 | ||||||
495,654 | Prudential PLC (Insurance) | 12,691 | ||||||
78,091 | Redrow PLC (Household Durables) | 690 | ||||||
386,466 | Rio Tinto PLC (Metals & Mining) | 20,270 | ||||||
852,832 | Royal Bank of Scotland Group PLC (Banks) (a) | 3,197 | ||||||
730,390 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 24,378 | ||||||
979,042 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 32,962 | ||||||
250,564 | Royal Mail PLC (Air Freight & Logistics) | 1,531 | ||||||
34,274 | Severn Trent PLC (Water Utilities) | 999 | ||||||
107,252 | Smith & Nephew PLC (Health Care Equipment & Supplies) | 1,855 | ||||||
784,952 | SSE PLC (Electric Utilities) | 13,952 | ||||||
128,282 | SSP Group PLC (Hotels, Restaurants & Leisure) | 1,178 | ||||||
223,446 | Standard Life PLC (Insurance) | 1,314 | ||||||
1,382,345 | Taylor Wimpey PLC (Household Durables) | 3,851 | ||||||
36,929 | The Berkeley Group Holdings PLC (Household Durables) | 2,092 | ||||||
97,632 | United Utilities Group PLC (Water Utilities) | 1,093 | ||||||
7,634,994 | Vodafone Group PLC (Wireless Telecommunication Services) | 24,130 | ||||||
11,046 | Whitbread PLC (Hotels, Restaurants & Leisure) | 596 | ||||||
|
| |||||||
492,597 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
United States — 0.50% | ||||||||
798,318 | AIA Group Ltd. (Insurance) (c) | $ | 6,791 | |||||
3,566 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | 4,170 | ||||||
16,607 | WABCO Holdings, Inc. (Machinery) (a) | 2,383 | ||||||
|
| |||||||
13,344 | ||||||||
|
| |||||||
Total Common Stocks | 2,410,031 | |||||||
|
| |||||||
Preferred Stocks — 1.11% | ||||||||
Chile — 0.01% | ||||||||
3,451 | Quimica y Minera Chile SA – Preferred, ADR (Chemicals) | 205 | ||||||
|
| |||||||
Germany — 1.10% | ||||||||
8,923 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 796 | ||||||
24,598 | Henkel AG & Co. KGaA – Preferred (Household Products) | 3,248 | ||||||
126,697 | Volkswagen AG – Preferred (Automobiles) | 25,163 | ||||||
|
| |||||||
29,207 | ||||||||
|
| |||||||
Total Preferred Stocks | 29,412 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Time Deposit — 0.67% | ||||||||
$ | 17,818 | State Street Liquidity Management Control System Eurodollar Time Deposit, | 17,818 | |||||
|
| |||||||
Total Time Deposit | 17,818 | |||||||
|
| |||||||
Shares | ||||||||
Mutual Funds — 8.53% | ||||||||
140,415 | Aberdeen Japan Investment Trust PLC | 1,217 | ||||||
111,639 | Aberdeen Singapore Fund, Inc. | 1,387 | ||||||
113,000 | Alliance Trust PLC | 1,137 | ||||||
255,692 | Biotech Growth Trust PLC (The) | 2,718 | ||||||
422,960 | BlackRock Greater Europe Investment Trust PLC | 1,930 | ||||||
249,198 | British Empire Trust PLC | 2,437 | ||||||
342,709 | Dreyfus Treasury Prime Cash Management Fund, 1.11% (d) | 343 | ||||||
753,255 | Dunedin Income Growth Investment Trust PLC | 2,646 | ||||||
475,000 | Edinburgh Dragon Trust PLC | 2,400 | ||||||
444,214 | Edinburgh Investment Trust PLC | 4,207 | ||||||
224,896 | European Investment Trust PLC | 2,887 | ||||||
20,182,598 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 20,183 | ||||||
1,765,855 | Fidelity European Values PLC | 5,404 | ||||||
120,000 | Foreign & Colonial Investment Trust PLC | 1,047 | ||||||
437,142 | Henderson Alternative Strategies Trust PLC | 1,782 | ||||||
56,745 | Henderson EuroTrust PLC | 927 | ||||||
411,690 | Japan Smaller Capitalization Fund | 4,862 | ||||||
217,585 | JPMorgan European Investment Trust PLC – Growth | 960 | ||||||
828,689 | JPMorgan European Smaller Companies Trust PLC | 4,684 |
See accompanying notes to financial statements.
106
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Mutual Funds (continued) | ||||||||
847,001 | JPMorgan Japan Smaller Companies Investment Trust | $ | 4,996 | |||||
1,223,525 | JPMorgan Japanese Investment Trust PLC | 7,238 | ||||||
375,000 | Lazard World Trust Fund | 1,929 | ||||||
390,497 | Martin Currie Asia Unconstrained Trust PLC | 2,128 | ||||||
170,843 | Montanaro European Smaller Companies Trust PLC | 1,875 | ||||||
471,118 | Neuberger Berman MLP Income Fund, Inc. | 4,419 | ||||||
72,064 | New Germany Fund, Inc. (The) | 1,402 | ||||||
25,690 | New Ireland Fund, Inc. (The) | 322 | ||||||
855,347 | Oakley Capital Investments Ltd. | 1,894 | ||||||
825,000 | Perpetual Income & Growth Investment Trust | 4,243 | ||||||
175,573 | Pershing Square Holdings Ltd. | 2,407 | ||||||
595,601 | PM Capital Global Opportunities Fund Ltd. | 571 | ||||||
2,007,053 | Polar Capital Global Financials Trust PLC | 3,928 | ||||||
111,349 | Riverstone Energy Ltd. | 1,856 | ||||||
1,206,429 | Schroder Japan Growth Fund PLC | 3,644 | ||||||
1,100,700 | Schroder UK Growth Fund PLC | 2,623 | ||||||
131,975 | Scottish Investment Trust PLC | 1,555 | ||||||
2,872,459 | SSgA U.S. Government Money Market Fund, 0.95% (d) | 2,872 | ||||||
7,683,400 | State Street Institutional Treasury Money Market Fund, 1.15% (d) | 7,683 | ||||||
103,708,926 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 103,709 | ||||||
122,203 | Swiss Helvetia Fund, Inc. | 1,559 | ||||||
32,406 | Tekla Healthcare Investors Fund | 731 | ||||||
|
| |||||||
Total Mutual Funds | 226,742 | |||||||
|
|
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreement — 0.71% | ||||||||
$ | 18,778 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $18,781,522 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $19,153,960)^^ | $ | 18,778 | ||||
|
| |||||||
Total Repurchase Agreement | 18,778 | |||||||
|
| |||||||
Total Investments | 2,702,781 | |||||||
Liabilities in excess of | (44,870 | ) | ||||||
|
| |||||||
Net Assets —100.00% | $ | 2,657,911 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $36,960 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(a) | Represents non-income producing security. |
(b) | This security has been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio’s net assets. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
107
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Institutional International | Artisan Partners LP | Cadence Capital Management, LLC | Causeway Capital Management LLC | City of London Investment Management Company, Ltd. | Lazard Asset Management LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||||||||
Common Stocks | 8.17 | % | 53.32 | % | 18.46 | % | — | 10.72 | % | — | — | 90.67 | % | |||||||||||||||||||
Preferred Stocks | 0.13 | % | 0.03 | % | 0.95 | % | — | — | — | — | 1.11 | % | ||||||||||||||||||||
Time Deposit | 0.16 | % | — | 0.51 | % | — | — | — | — | 0.67 | % | |||||||||||||||||||||
Mutual Funds | — | 0.64 | % | — | 3.66 | % | 0.24 | % | 3.99 | % | 0.00 | % | 8.53 | % | ||||||||||||||||||
Repurchase Agreement | — | 0.59 | % | — | — | 0.12 | % | — | — | 0.71 | % | |||||||||||||||||||||
Other Assets (Liabilities) | 0.03 | % | -0.84 | % | 0.04 | % | -0.03 | % | -0.22 | % | -0.67 | % | 0.00 | % | -1.69 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
Total Net Assets | 8.49 | % | 53.74 | % | 19.96 | % | 3.63 | % | 10.86 | % | 3.32 | % | 0.00 | % | 100.00 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Mini MSCI EAFE Index Future | 1,082 | 3/16/18 | $ | 109,204 | $ | 110,662 | $ | 1,458 | ||||||||||
|
|
|
|
|
| |||||||||||||
$ | 109,204 | $ | 110,662 | $ | 1,458 | |||||||||||||
|
|
|
|
|
|
Futures Contracts Sold^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Japanese Yen Future | 223 | 3/19/18 | $ | 24,848 | $ | 24,789 | $ | (59 | ) | |||||||||
|
|
|
|
|
| |||||||||||||
$ | 24,848 | $ | 24,789 | $ | (59 | ) | ||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 1,458 | ||||||||||||||||
Total Unrealized Depreciation | (59 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 1,399 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Forward Currency Contracts
Short Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
U.S. Dollar | 243 | Japanese Yen | 27,446 | State Street Corporation | 1/5/18 | $ | (1 | ) | ||||||||||||
U.S. Dollar | 454 | Japanese Yen | 51,291 | Citibank | 1/4/18 | (2 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | (3 | ) | ||||||||||||||||||
|
|
See accompanying notes to financial statements.
108
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Long Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Japanese Yen | 10,044 | U.S. Dollar | 89 | Citibank | 1/9/18 | $ | — | |||||||||||||
Japanese Yen | 8,962 | U.S. Dollar | 79 | State Street Corporation | 1/5/18 | — | ||||||||||||||
|
| |||||||||||||||||||
$ | — | |||||||||||||||||||
|
| |||||||||||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||||||||
Total Unrealized Depreciation |
| (3 | ) | |||||||||||||||||
|
| |||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (3 | ) | ||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
109
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 92.39% | ||||||||
Argentina — 0.19% | ||||||||
53,100 | Grupo Financiero Galicia SA, ADR (Banks) | $ | 3,497 | |||||
|
| |||||||
Bermuda — 0.32% | ||||||||
7,546,000 | Beijing Enterprises Water Group Ltd. (Water Utilities) | 5,830 | ||||||
|
| |||||||
Brazil — 5.96% | ||||||||
2,182,700 | Ambev SA (Beverages) | 14,006 | ||||||
1,094,800 | Banco Bradesco SA, ADR (Banks) | 11,211 | ||||||
1,091,300 | Banco do Brasil SA (Banks) | 10,471 | ||||||
646,900 | BB Seguridade Participacoes SA (Insurance) | 5,557 | ||||||
456,756 | BRF – Brazil Foods SA, ADR (Food Products) (a) | 5,143 | ||||||
214,700 | BRF SA (Food Products) (a) | 2,370 | ||||||
265,600 | CIA Hering (Specialty Retail) | 2,052 | ||||||
2,741,216 | Companhia Energetica de Minas Gerais SA – Sponsored ADR (Electric Utilities)^ | 5,647 | ||||||
781,398 | Companhia Paranaense de Energia-Copel, ADR (Electric Utilities) | 5,961 | ||||||
233,381 | CPFL Energia SA (Electric Utilities) | 1,362 | ||||||
460,500 | Cyrela Brazil Realty SA Empreendimentos (Household Durables) | 1,836 | ||||||
2,026,888 | Duratex SA (Paper & Forest Products) | 5,623 | ||||||
276,007 | Embraer SA, ADR (Aerospace & Defense) | 6,605 | ||||||
438,700 | Klabin SA (Containers & Packaging) | 2,328 | ||||||
820,500 | Natura Cosmeticos SA (Personal Products) | 8,180 | ||||||
254,800 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) (a) | 1,299 | ||||||
910,087 | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) (a) | 9,365 | ||||||
210,800 | Suzano Papel e Celulose SA (Paper & Forest Products) | 1,188 | ||||||
401,900 | Totvs SA (Software) | 3,622 | ||||||
74,400 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 479 | ||||||
509,400 | WEG SA (Machinery) | 3,703 | ||||||
|
| |||||||
108,008 | ||||||||
|
| |||||||
Chile — 1.93% | ||||||||
831,232 | Antofagasta PLC (Metals & Mining) | 11,216 | ||||||
16,281 | Banco de Credito e Inversiones SA (Banks) | 1,133 | ||||||
327,020 | Compania Cervecerias Unidas SA (Beverages) | 4,907 | ||||||
1,604,500 | Empresa Nacional de Electricidad SA (Independent Power & Renewable Electricity Producers) | 1,453 | ||||||
407,183 | Empresa Nacional de Telecomunicaciones SA (Wireless Telecommunication Services) | 4,578 | ||||||
9,436,244 | Enersis Chile SA (Electric Utilities) | 1,117 | ||||||
13,750,484 | Enersis SA (Electric Utilities) | 3,064 | ||||||
729,670,014 | Itau CorpBanca (Banks) | 6,640 | ||||||
433,100 | Vina Concha y Toro SA (Beverages) | 820 | ||||||
|
| |||||||
34,928 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
China — 22.72% | ||||||||
12,829,000 | Agricultural Bank of China Ltd., H Shares (Banks) | $ | 5,962 | |||||
71,300 | Alibaba Group Holding Ltd., ADR (Internet Software & Services) (a) | 12,294 | ||||||
3,741,500 | BAIC Motor Corp. Ltd. (Automobiles) (b) | 4,860 | ||||||
63,853 | Baidu, Inc., ADR (Internet Software & Services) (a) | 14,955 | ||||||
18,657,100 | Bank of China Ltd., H Shares (Banks) | �� | 9,137 | |||||
5,579,000 | Bank of Communications Co. Ltd., H Shares (Banks) | 4,129 | ||||||
609,000 | BYD Co. Ltd., H Shares (Automobiles)^ | 5,291 | ||||||
17,616,000 | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) | 11,782 | ||||||
3,539,000 | China Conch Venture Holdings Ltd. (Machinery) | 8,188 | ||||||
40,156,350 | China Construction Bank Corp., H Shares (Banks) | 36,967 | ||||||
1,641,000 | China Everbright Bank Co. Ltd., H Shares (Banks) | 765 | ||||||
3,780,337 | China Evergrande Group (Real Estate Management & Development) (a) | 12,980 | ||||||
2,801,000 | China Life Insurance Co. Ltd., H Shares (Insurance) | 8,735 | ||||||
6,658,000 | China Machinery Engineering Corp., H Shares (Construction & Engineering) | 4,306 | ||||||
2,742,500 | China Merchants Bank Co. Ltd., H Shares (Banks) | 10,858 | ||||||
1,434,000 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 3,746 | ||||||
2,875,000 | China Mobile Ltd. (Wireless Telecommunication Services) | 29,072 | ||||||
121,401 | China Mobile Ltd., ADR (Wireless Telecommunication Services) | 6,136 | ||||||
5,561,400 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 4,073 | ||||||
1,254,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 823 | ||||||
998,000 | China Resources Land Ltd. (Real Estate Management & Development) | 2,928 | ||||||
6,462,143 | China Resources Power Holdings Co. Ltd. (Independent Power & Renewable Electricity Producers) | 12,020 | ||||||
2,040,000 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 5,270 | ||||||
823,000 | China Vanke Co. Ltd., H Shares (Real Estate Management & Development) | 3,275 | ||||||
4,075,500 | China Zhentong Auto Services Holdings Ltd. (Specialty Retail) | 4,115 | ||||||
1,444,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | 1,017 | ||||||
3,170,000 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 4,551 | ||||||
7,819,996 | COSCO Pacific Ltd. (Transportation Infrastructure) (c) | 8,137 | ||||||
3,599,000 | Country Garden Holdings Co. (Real Estate Management & Development) | 6,838 | ||||||
725,000 | ENN Energy Holdings Ltd. (Gas Utilities) | 5,157 | ||||||
1,814,800 | Fuyao Glass Industry Group Co. Ltd. (Auto Components) | 7,635 |
See accompanying notes to financial statements.
110
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) | ||||||||
5,670,400 | Haitong Securities Co. Ltd., H Shares (Capital Markets) | $ | 8,209 | |||||
1,106,030 | Hangzhou Hikvision Digital Technology Co. Ltd., Class – A (Electronic Equipment, Instruments & Components) | 6,624 | ||||||
44,043,440 | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | 35,308 | ||||||
1,516,000 | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 2,305 | ||||||
12,470,000 | Lianhua Supermarket Holdings Ltd., H Shares (Food & Staples Retailing)^ (a)(c) | 4,533 | ||||||
573,600 | Midea Group Co. Ltd., Class – A (Household Durables) | 4,882 | ||||||
49,408 | NetEase, Inc., ADR (Internet Software & Services) | 17,049 | ||||||
52,637,737 | Parkson Retail Group Ltd. (Multiline Retail)^ (c) | 6,052 | ||||||
19,214,000 | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | 13,362 | ||||||
4,302,000 | PICC Property & Casualty Co. Ltd., H Shares (Insurance) | 8,242 | ||||||
1,656,500 | Ping An Insurance (Group) Company of China Ltd. (Insurance) | 17,182 | ||||||
3,133,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 8,961 | ||||||
2,995,100 | Shanghai Pharmaceuticals Holding Co. Ltd., H Shares (Health Care Providers & Services) | 8,086 | ||||||
873,000 | Shimao Property Holdings Ltd. (Real Estate Management & Development) | 1,894 | ||||||
16,030,000 | Sinotrans Ltd., H Shares (Air Freight & Logistics) | 7,842 | ||||||
1,147,500 | SOHO China Ltd. (Real Estate Management & Development) | 670 | ||||||
1,010,700 | Weifu High Technology Group Co. Ltd. (Auto Components) | 2,162 | ||||||
1,818,000 | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 1,999 | ||||||
|
| |||||||
411,364 | ||||||||
|
| |||||||
Colombia — 0.20% | ||||||||
4,891,836 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 3,626 | ||||||
|
| |||||||
Czech Republic — 0.26% | ||||||||
1,237,734 | Moneta Money Bank A/S (Banks) (b) | 4,793 | ||||||
|
| |||||||
Egypt — 0.13% | ||||||||
526,825 | Commercial International Bank Egypt SAE (Banks) | 2,299 | ||||||
|
| |||||||
Greece — 0.32% | ||||||||
416,468 | Hellenic Telecommunication Organization SA (Diversified Telecommunication Services) | 5,746 | ||||||
|
| |||||||
Hong Kong — 1.89% | ||||||||
1,722,000 | AIA Group Ltd. (Insurance) | 14,647 | ||||||
4,645,000 | China Everbright International Ltd. (Commercial Services & Supplies) | 6,627 | ||||||
1,172,000 | Far East Horizon Ltd. (Diversified Financial Services) | 1,001 | ||||||
2,368,000 | Franshion Properties China Ltd. (Real Estate Management & Development) | 1,040 | ||||||
624,800 | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Management & Development) | 1,405 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) | ||||||||
9,222,000 | Nagacorp Ltd. (Hotels, Restaurants & Leisure) | $ | 7,123 | |||||
2,184,500 | Sino-Ocean Land Holdings Ltd. (Real Estate Management & Development) | 1,504 | ||||||
4,500,000 | Yuexiu Property Co. Ltd. (Real Estate Management & Development) | 838 | ||||||
|
| |||||||
34,185 | ||||||||
|
| |||||||
Hungary — 0.45% | ||||||||
326,720 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 3,792 | ||||||
107,086 | OTP Bank Nyrt PLC (Banks) | 4,427 | ||||||
|
| |||||||
8,219 | ||||||||
|
| |||||||
India — 8.92% | ||||||||
20,590 | ACC Ltd. (Construction Materials) | 566 | ||||||
808,855 | Adani Ports And Special Econ (Transportation Infrastructure) | 5,129 | ||||||
319,100 | Ambuja Cements Ltd. (Construction Materials) | 1,360 | ||||||
1,167,560 | Apollo Tyres Ltd. (Auto Components) | 4,899 | ||||||
74,400 | Bajaj Auto Ltd. (Automobiles) | 3,886 | ||||||
474,300 | Bharat Pertoleum Corp. Ltd. (Oil, Gas & Consumable Fuels) | 3,845 | ||||||
8,842,285 | Chennai Super Kings Cricket Ltd. (Media) (a) | — | ||||||
589,300 | Coal India Ltd. (Oil, Gas & Consumable Fuels) | 2,425 | ||||||
268,900 | Dr. Reddy’s Laboratories Ltd., ADR (Pharmaceuticals) | 10,100 | ||||||
179,900 | GAIL India Ltd. (Gas Utilities) | 1,406 | ||||||
65,043 | Hero MotoCorp Ltd. (Automobiles) | 3,853 | ||||||
645,940 | Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | 17,299 | ||||||
1,059,410 | ICICI Bank Ltd. (Banks) | 5,193 | ||||||
2,072,159 | India Cements Ltd. (Construction Materials) | 5,944 | ||||||
678,275 | Infosys Ltd. (IT Services) | 11,026 | ||||||
1,317,147 | ITC Ltd. (Tobacco) | 5,433 | ||||||
629,448 | Mahindra & Mahindra Ltd. (Automobiles) | 7,396 | ||||||
3,294,507 | NTPC Ltd. (Independent Power & Renewable Electricity Producers) | 9,137 | ||||||
980,385 | Oil & Natural Gas Corp. Ltd. (Oil, Gas & Consumable Fuels) | 2,989 | ||||||
135,533 | Oil India Ltd. (Oil, Gas & Consumable Fuels) | 788 | ||||||
2,203,812 | Punjab National Bank (Banks) (a) | 5,901 | ||||||
578,159 | Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) | 8,335 | ||||||
261,508 | Rural Electrification Corp. Ltd. (Diversified Financial Services) | 638 | ||||||
612,770 | Sesa Sterlite Ltd. (Metals & Mining) | 3,157 | ||||||
2,392,891 | State Bank of India (Banks) | 11,593 | ||||||
2,916,609 | Steel Authority of India Ltd. (Metals & Mining) (a) | 4,203 | ||||||
450,860 | Tata Consultancy Services Ltd. (IT Services) | 19,066 | ||||||
493,600 | Tata Power Co. Ltd. (Electric Utilities) | 722 | ||||||
1,085,500 | Wipro Ltd. (IT Services) | 5,324 | ||||||
|
| |||||||
161,613 | ||||||||
|
|
See accompanying notes to financial statements.
111
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Indonesia — 2.53% | ||||||||
2,052,677 | PT Astra Agro Lestari Tbk (Food Products) (c) | $ | 1,990 | |||||
12,107,900 | PT Astra International Tbk (Automobiles) | 7,397 | ||||||
4,295,100 | PT Bank Central Asia Tbk (Banks) | 6,932 | ||||||
16,210,000 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 4,350 | ||||||
1,853,400 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 2,999 | ||||||
2,506,800 | PT Indofood Sukses Makmur Tbk (Food Products) | 1,409 | ||||||
54,270,600 | PT Kalbe Farma Tbk (Pharmaceuticals) | 6,761 | ||||||
3,254,500 | PT Perusahaan Gas Negara Tbk (Gas Utilities) | 419 | ||||||
8,385,800 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 6,120 | ||||||
14,823,650 | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) | 4,853 | ||||||
967,300 | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | 2,524 | ||||||
|
| |||||||
45,754 | ||||||||
|
| |||||||
Malaysia — 1.34% | ||||||||
741,500 | AMMB Holdings Berhad (Banks) | 809 | ||||||
550,387 | Berjaya Sports Toto Berhard (Hotels, Restaurants & Leisure) | 305 | ||||||
994,100 | Felda Global Ventures Holdings Berhad (Food Products) | 415 | ||||||
2,304,300 | IOI Corp. Berhad (Food Products) | 2,588 | ||||||
174,300 | Lafarge Malayan Cement Berhad (Construction Materials) (a) | 267 | ||||||
3,961,287 | Malayan Banking Berhad (Banks) | 9,594 | ||||||
741,400 | Maxis Berhad (Wireless Telecommunication Services) | 1,101 | ||||||
718,100 | Public Bank Berhad (Banks) | 3,690 | ||||||
1,695,900 | Sime Darby Berhad (Industrial Conglomerates) | 927 | ||||||
1,695,900 | Sime Darby Plantation Berhad (Food Products) (a) | 2,516 | ||||||
1,695,900 | Sime Darby Property Berhad (Real Estate Management & Development) (a) | 746 | ||||||
454,700 | UMW Holdings Berhad (Automobiles) (a) | 583 | ||||||
448,872 | UMW Oil & Gas Corp. Berhad (Energy Equipment & Services) (a) | 34 | ||||||
1,566,312 | YTL Corp. Berhad (Multi-Utilities) | 529 | ||||||
490,926 | YTL Power International Berhad (Multi-Utilities) | 157 | ||||||
|
| |||||||
24,261 | ||||||||
|
| |||||||
Mexico — 3.31% | ||||||||
6,927,115 | Alpek SAB de CV (Chemicals) (c) | 8,269 | ||||||
5,161,500 | America Movil SAB de CV (Wireless Telecommunication Services) | 4,448 | ||||||
780,800 | Cemex SAB de CV, ADR (Construction Materials) (a) | 5,856 | ||||||
415,300 | Coca-Cola FEMSA SAB de CV, Series L (Beverages) | 2,898 | ||||||
4,305,800 | Compartamos SAB de CV (Consumer Finance) | 3,579 | ||||||
1,141,900 | Fibra Uno Amdinistracion SA (Equity Real Estate Investment Trusts) | 1,690 |
Shares | Security Description | Value (000) | ||||||
Mexico (continued) | ||||||||
204,305 | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Transportation Infrastructure) | $ | 3,727 | |||||
716,500 | Grupo Financiero Banorte SAB de CV (Banks) | 3,934 | ||||||
1,725,445 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 5,699 | ||||||
3,595,000 | Kimberly-Clark de Mexico SAB de CV, A Shares (Household Products) | 6,331 | ||||||
1,865,824 | Mexichem SAB de CV (Chemicals) | 4,619 | ||||||
7,056,300 | Nemak SA de CV (Auto Components) (b) | 5,122 | ||||||
|
| |||||||
240,905 | Telesites SAB de CV (Diversified Telecommunication Services)(a) | 183 | ||||||
452,720 | Volaris Aviation Holding Co., ADR (Airlines)^ (a) | 3,631 | ||||||
|
| |||||||
59,986 | ||||||||
|
| |||||||
Netherlands — 0.34% | ||||||||
1,582,537 | Veon Ltd., ADR (Wireless Telecommunication Services) | 6,077 | ||||||
|
| |||||||
Nigeria — 0.15% | ||||||||
24,137,479 | Guaranty Trust Bank PLC (Banks) | 2,740 | ||||||
|
| |||||||
Peru — 1.13% | ||||||||
291,548 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 4,105 | ||||||
33,500 | Credicorp Ltd. (Banks) | 6,949 | ||||||
45,700 | Credicorp Ltd. (Banks) | 9,479 | ||||||
|
| |||||||
20,533 | ||||||||
|
| |||||||
Philippines — 1.36% | ||||||||
1,181,140 | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) | 1,751 | ||||||
719,500 | Aboitiz Power Corp. (Independent Power & Renewable Electricity Producers) | 599 | ||||||
2,027,900 | Alliance Global Group, Inc. (Industrial Conglomerates) (a) | 650 | ||||||
4,014,700 | DMCI Holdings, Inc. (Industrial Conglomerates) | 1,158 | ||||||
3,631,700 | Metropolitan Bank & Trust Co. (Banks) | 7,370 | ||||||
48,400 | PLDT, Inc. (Wireless Telecommunication Services) | 1,436 | ||||||
585,440 | SM Investments Corp. (Industrial Conglomerates) | 11,613 | ||||||
|
| |||||||
24,577 | ||||||||
|
| |||||||
Poland — 1.06% | ||||||||
15,630 | Bank Handlowy w Warszawie SA (Banks) | 368 | ||||||
394,773 | Bank Pekao SA (Banks) | 14,665 | ||||||
104,800 | Energa SA (Electric Utilities) | 383 | ||||||
278,900 | Powszechny Zaklad Ubezpieczen SA (Insurance) | 3,375 | ||||||
269,900 | Telekomunikacja Polska SA (Diversified Telecommunication Services) (a) | 449 | ||||||
|
| |||||||
19,240 | ||||||||
|
| |||||||
Qatar — 0.47% | ||||||||
38,940 | Doha Bank QSC (Banks) | 304 | ||||||
136,155 | Industries Qatar QSC (Industrial Conglomerates) | 3,666 | ||||||
121,953 | Qatar National Bank (Banks) | 4,254 | ||||||
42,755 | The Commercial Bank of Qatar QSC (Banks) (a) | 341 | ||||||
|
| |||||||
8,565 | ||||||||
|
|
See accompanying notes to financial statements.
112
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia — 2.24% | ||||||||
93,462 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | $ | 5,325 | |||||
181,219 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | 10,447 | ||||||
67,844 | Magnit OJSC, Registered Shares, GDR (Food & Staples Retailing) | 1,846 | ||||||
58,644 | Magnit PJSC (Food & Staples Retailing) | 6,451 | ||||||
334,760 | Mobile TeleSystems OJSC, ADR (Wireless Telecommunication Services) | 3,411 | ||||||
2,265,139 | Rosneft Oil Co. (Oil, Gas & Consumable Fuels) | 11,451 | ||||||
113,164 | Severstal, Registered Shares, GDR (Metals & Mining) | 1,732 | ||||||
|
| |||||||
40,663 | ||||||||
|
| |||||||
South Africa — 6.86% | ||||||||
50,100 | African Rainbow Minerals Ltd. (Metals & Mining) | 542 | ||||||
191,464 | Aspen Pharmacare Holdings Ltd. (Pharmaceuticals) | 4,307 | ||||||
433,052 | Clicks Group Ltd. (Food & Staples Retailing) | 6,362 | ||||||
110,600 | Coronation Fund Managers Ltd. (Capital Markets) | 663 | ||||||
137,800 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 1,816 | ||||||
3,240,785 | FirstRand Ltd. (Diversified Financial Services) | 17,606 | ||||||
1,116,666 | Growthpoint Properties Ltd. (Equity Real Estate Investment Trusts) | 2,505 | ||||||
238,500 | Hyprop Investments Ltd. (Equity Real Estate Investment Trusts) | 2,269 | ||||||
181,795 | Imperial Holdings Ltd. (Distributors) | 3,855 | ||||||
51,643 | Liberty Holdings Ltd. (Insurance) | 521 | ||||||
902,400 | Life Healthcare Group Holdings Ltd. (Health Care Providers & Services) | 2,031 | ||||||
542,500 | MMI Holdings Ltd. (Insurance) | 924 | ||||||
277,661 | Mondi Ltd. (Paper & Forest Products) | 7,190 | ||||||
286,830 | MTN Group Ltd. (Wireless Telecommunication Services) | 3,178 | ||||||
307,400 | Nampak Ltd. (Containers & Packaging) (a) | 404 | ||||||
83,920 | Naspers Ltd. (Media) | 23,333 | ||||||
397,094 | Pioneer Foods Group Ltd. (Food Products) | 4,387 | ||||||
9,376,993 | PPC Ltd. (Construction Materials) (a) | 5,260 | ||||||
3,370,906 | Redefine Properties Ltd. (Equity Real Estate Investment Trusts) | 2,925 | ||||||
255,600 | Resilient REIT Ltd. (Equity Real Estate Investment Trusts) | 3,134 | ||||||
261,713 | Sasol Ltd. (Chemicals) | 9,079 | ||||||
215,461 | Shoprite Holdings Ltd. (Food & Staples Retailing) | 3,865 | ||||||
388,358 | Standard Bank Group Ltd. (Banks) | 6,136 | ||||||
565,272 | The Foschini Group Ltd. (Specialty Retail) | 9,047 | ||||||
374,200 | Truworths International Ltd. (Specialty Retail) | 2,867 | ||||||
|
| |||||||
124,206 | ||||||||
|
| |||||||
South Korea — 13.77% | ||||||||
15,867 | Amorepacific Corp. (Personal Products) | 4,514 | ||||||
23,071 | CJ Cheiljedang Corp. (Food Products) | 7,890 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) | ||||||||
48,970 | Com2uS Corp. (Software) | $ | 6,226 | |||||
51,400 | Coway Co. Ltd. (Household Durables) | 4,685 | ||||||
44,500 | Daewoo International Corp. (Trading Companies & Distributors) | 754 | ||||||
761,679 | Daewoo Securities Co. Ltd. (Capital Markets) | 6,518 | ||||||
64,293 | DGB Financial Group, Inc. (Banks) | 633 | ||||||
20,870 | Dongbu Insurance Co. Ltd. (Insurance) | 1,388 | ||||||
257,227 | Doosan Bobcat, Inc. (Machinery) | 8,588 | ||||||
6,000 | Doosan Corp. (Industrial Conglomerates) | 633 | ||||||
49,700 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 2,886 | ||||||
135,689 | Hana Financial Group, Inc. (Banks) | 6,308 | ||||||
135,335 | Hankook Tire Co. Ltd. (Auto Components) | 6,896 | ||||||
551,972 | Hanon Systems (Auto Components) | 7,170 | ||||||
10,600 | Hyosung Corp. (Chemicals) | 1,380 | ||||||
29,641 | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | 1,300 | ||||||
36,385 | Hyundai Mobis Co. Ltd. (Auto Components) | 8,940 | ||||||
30,947 | Hyundai Motor Co. Ltd. (Automobiles) | 4,504 | ||||||
123,200 | Industrial Bank of Korea (Banks) | 1,890 | ||||||
109,700 | Kangwon Land, Inc. (Hotels, Restaurants & Leisure) | 3,566 | ||||||
95,158 | KB Financial Group, Inc., ADR (Banks) | 5,568 | ||||||
138,192 | KB Financial Group, Inc. (Banks) | 8,180 | ||||||
19,030 | KEPCO Plant Service & Engineering Co. Ltd. (Commercial Services & Supplies) | 721 | ||||||
115,781 | Kia Motors Corp. (Automobiles) | 3,624 | ||||||
94,555 | Korea Electric Power Corp., ADR (Electric Utilities)^ | 1,675 | ||||||
159,786 | Korea Electric Power Corp. (Electric Utilities) | 5,680 | ||||||
106,000 | Korea Life Insurance Co. Ltd. (Insurance) | 683 | ||||||
54,564 | KT&G Corp. (Tobacco) | 5,888 | ||||||
6,700 | Kumho Petro Chemical Co. Ltd. (Chemicals) | 622 | ||||||
15,033 | LG Chem Ltd. (Chemicals) | 5,688 | ||||||
194,900 | LG Display Co. Ltd. (Electronic Equipment, Instruments & Components) | 5,426 | ||||||
53,190 | LIG Nex1 Co. Ltd. (Aerospace & Defense)^ | 2,972 | ||||||
14,361 | LS Corp. (Electrical Equipment) | 972 | ||||||
14,000 | LS Industrial Systems Co. Ltd. (Electrical Equipment) | 851 | ||||||
22,383 | POSCO (Metals & Mining) | 6,963 | ||||||
16,220 | Samsung Card Co. Ltd. (Consumer Finance) | 600 | ||||||
25,210 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 59,904 | ||||||
44,331 | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | 11,056 | ||||||
510,841 | Shinhan Financial Group Co. Ltd. (Banks) | 23,582 | ||||||
35,135 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 6,704 | ||||||
4,528 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 1,129 | ||||||
284,654 | Woori Bank (Banks) | 4,185 | ||||||
|
| |||||||
249,342 | ||||||||
|
| |||||||
Taiwan — 9.73% | ||||||||
9,329,345 | Advanced Semiconductor Engineering, Inc. (Semiconductors & Semiconductor Equipment) | 11,945 |
See accompanying notes to financial statements.
113
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Taiwan (continued) | ||||||||
787,971 | Asia Cement Corp. (Construction Materials) | $ | 746 | |||||
338,000 | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | 3,175 | ||||||
1,459,000 | Casetek Holdings Ltd. (Technology Hardware, Storage & Peripherals) | 5,003 | ||||||
1,187,000 | Cheng Shin Rubber Industry Co. Ltd. (Auto Components) | 2,095 | ||||||
381,144 | Chicony Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 958 | ||||||
5,034,000 | China Development Financial Holding Corp. (Banks) | 1,714 | ||||||
391,000 | China Motor Corp. (Automobiles) | 341 | ||||||
1,219,000 | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | 4,337 | ||||||
2,939,000 | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | 2,101 | ||||||
438,000 | CTCI Corp. (Construction & Engineering) | 665 | ||||||
589,000 | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | 1,455 | ||||||
539,000 | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | 566 | ||||||
5,847,996 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 9,944 | ||||||
651,000 | Giant Manufacturing Co. Ltd. (Leisure Products) | 3,569 | ||||||
1,000 | Grand Pacific Petrochemical Corp. (Chemicals) | 1 | ||||||
279,700 | Highwealth Construction Corp. (Real Estate Management & Development) | 397 | ||||||
3,205,839 | Hon Hai Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | 10,196 | ||||||
499,000 | HTC Corp. (Technology Hardware, Storage & Peripherals) (a) | 1,226 | ||||||
10,809,000 | Inventec Corp. (Technology Hardware, Storage & Peripherals) | 8,606 | ||||||
214,000 | Kinsus Interconnect Technology Corp. (Semiconductors & Semiconductor Equipment) | 389 | ||||||
1,488,554 | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | 2,025 | ||||||
1,068,962 | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | 10,511 | ||||||
3,561,477 | Mega Financial Holding Co. Ltd. (Banks) | 2,873 | ||||||
423,000 | Novatek Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 1,609 | ||||||
1,157,000 | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | 2,788 | ||||||
1,620 | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | 2 | ||||||
490,000 | Powertech Technology, Inc. (Semiconductors & Semiconductor Equipment) | 1,443 | ||||||
2,695,000 | President Enterprises Corp. (Food Products) | 5,970 | ||||||
4,107,000 | Quanta Computer, Inc. (Technology Hardware, Storage & Peripherals) | 8,546 | ||||||
296,000 | Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) | 701 | ||||||
309,000 | Realtek Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 1,127 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) | ||||||||
298,800 | Ruentex Development Co. Ltd. (Real Estate Management & Development) (a) | $ | 320 | |||||
375,000 | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | 636 | ||||||
2,164,000 | Siliconware Precision Industries Co. (Semiconductors & Semiconductor Equipment) | 3,654 | ||||||
120,000 | Simplo Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 670 | ||||||
2,553,200 | Standard Foods Corp. (Food Products) | 6,351 | ||||||
940,900 | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | 1,280 | ||||||
1,198,000 | Taiwan Cement Corp. (Construction Materials) | 1,466 | ||||||
286,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 368 | ||||||
615,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | 2,222 | ||||||
5,059,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 38,749 | ||||||
138,000 | Transcend Information, Inc. (Technology Hardware, Storage & Peripherals) | 383 | ||||||
314,000 | U-Ming Marine Transport Corp. (Marine) | 384 | ||||||
569,000 | Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 1,260 | ||||||
377,000 | Wan Hai Lines Ltd. (Marine) | 243 | ||||||
1,823,595 | Wistron Corp. (Technology Hardware, Storage & Peripherals) | 1,462 | ||||||
995,000 | WPG Holdings Ltd. (Electronic Equipment, Instruments & Components) | 1,314 | ||||||
18,418,000 | Yuanta Financial Holding Co. Ltd. (Capital Markets) | 8,519 | ||||||
|
| |||||||
176,305 | ||||||||
|
| |||||||
Thailand — 1.59% | ||||||||
275,000 | Advanced Info Service Public Co. Ltd. (Wireless Telecommunication Services) | 1,612 | ||||||
1,144,100 | Bangkok Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | 7,690 | ||||||
216,400 | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | 1,342 | ||||||
946,200 | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | 566 | ||||||
538,900 | BEC World Public Co. Ltd. (Media) | 217 | ||||||
3,111,600 | BTS Group Holdings Public Co. Ltd. (Road & Rail) | 793 | ||||||
1,577,800 | Central Pattana Public Co. Ltd., Registered Shares (Real Estate Management & Development) | 4,129 | ||||||
2,982,700 | Delta Electronics (Thailand) Public Co. Ltd. (Electronic Equipment, Instruments & Components) | 6,706 | ||||||
136,600 | Glow Energy Public Co. Ltd. (Independent Power & Renewable Electricity Producers) | 341 | ||||||
888,000 | Krung Thai Bank Public Co. Ltd. – NVDR (Banks) | 522 | ||||||
429,142 | PTT Chemical Public Co. Ltd. (Chemicals) | 1,119 | ||||||
634,175 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 1,944 |
See accompanying notes to financial statements.
114
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HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Thailand (continued) | ||||||||
411,000 | Siam Commercial Bank Public Co. Ltd. – NVDR (Banks) | $ | 1,886 | |||||
|
| |||||||
28,867 | ||||||||
|
| |||||||
Turkey — 2.08% | ||||||||
563,511 | Coca-Cola Icecek A/S (Beverages) | 5,084 | ||||||
6,319,907 | Emlak Konut Gayrimenkul Yatirim (Equity Real Estate Investment Trusts)^ (a) | 4,682 | ||||||
4,381,858 | Enka Insaat ve Sanayi A/S (Industrial Conglomerates) | 6,975 | ||||||
693,800 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 1,831 | ||||||
1 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class – D (Metals & Mining) (a) | — | ||||||
162,200 | TAV Havalimanlari Holding A/S (Transportation Infrastructure) | 960 | ||||||
120,400 | Tofas Turk Otomobil Fabrikasi A/S (Automobiles) | 1,048 | ||||||
66,276 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 2,125 | ||||||
257,700 | Turk Telekomunikasyon A/S (Diversified Telecommunication Services) (a) | 437 | ||||||
1,636,777 | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) | 6,677 | ||||||
90,184 | Turkcell lletisim Hizmetleri A/S, ADR (Wireless Telecommunication Services) | 920 | ||||||
2,465,505 | Turkiye Halk Bankasi A/S (Banks) | 7,009 | ||||||
|
| |||||||
37,748 | ||||||||
|
| |||||||
United Arab Emirates — 0.18% | ||||||||
528,300 | Abu Dhabi Commercial Bank PJSC (Banks) | 978 | ||||||
488,800 | Dubai Islamic Bank PJSC (Banks) | 823 | ||||||
542,072 | National Bank of Abu Dhabi (Banks) | 1,513 | ||||||
|
| |||||||
3,314 | ||||||||
|
| |||||||
United Kingdom — 0.61% | ||||||||
199,316 | Unilever PLC (Personal Products) | 11,053 | ||||||
|
| |||||||
United States — 0.35% | ||||||||
1,371,000 | Samsonite International SA (Textiles, Apparel & Luxury Goods) | 6,300 | ||||||
|
| |||||||
Total Common Stocks | 1,673,639 | |||||||
|
| |||||||
Preferred Stocks — 2.08% | ||||||||
Brazil — 1.15% | ||||||||
1,216,400 | Banco do Estado do Rio Grande do Sul SA – Preferred, Series B, B Shares (Banks) | 5,465 | ||||||
2,249,246 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 4,659 | ||||||
267,100 | Companhia Paranaense de Energia-COPEL – Preferred, B Shares (Electric Utilities) | 2,010 | ||||||
1,620,228 | Gerdau SA – Preferred – Preferred, ADR (Metals & Mining) | 6,027 | ||||||
1,243,222 | Randon Participacoes SA – Preferred (Machinery) | 2,688 | ||||||
|
| |||||||
20,849 | ||||||||
|
| |||||||
Colombia — 0.04% | ||||||||
1,637,100 | Grupo Aval Acciones y Valores SA – Preferred (Banks) | 708 | ||||||
�� |
|
|
Shares | Security Description | Value (000) | ||||||
India — 0.02% | ||||||||
2,625,080 | Vedanta Ltd. – Preferred (Metals & Mining)* | $ | 430 | |||||
|
| |||||||
South Korea — 0.87% | ||||||||
35,800 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) | 3,411 | ||||||
22,900 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) | 2,001 | ||||||
5,298 | Samsung Electronics Co. Ltd. – Preferred (Technology Hardware, Storage & Peripherals) | 10,319 | ||||||
|
| |||||||
15,731 | ||||||||
|
| |||||||
Total Preferred Stocks | 37,718 | |||||||
|
| |||||||
Right — 0.01% | ||||||||
Taiwan — 0.01% | ||||||||
273,663 | Casetek Holdings Ltd. (Technology Hardware, Storage & Peripherals) (a) | 92 | ||||||
|
| |||||||
Total Right | 92 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Time Deposit — 0.58% | ||||||||
$ | 10,520 | State Street Liquidity Management Control System Eurodollar Time Deposit, 0.39%, 1/2/18 | 10,520 | |||||
|
| |||||||
Total Time Deposit | 10,520 | |||||||
|
| |||||||
Shares | ||||||||
Exchange-Traded Fund — 2.43% | ||||||||
934,245 | iShares MSCI Emerging Markets Index Fund ETF | 44,022 | ||||||
|
| |||||||
Total Exchange-Traded Fund | 44,022 | |||||||
|
| |||||||
Mutual Funds — 3.16% | ||||||||
5,632,939 | Federated Treasury Obligations Fund, Institutional Shares, 1.13%^^ (d) | 5,633 | ||||||
— | State Street Institutional Treasury Money Market Fund, 1.15% (d) | — | ||||||
51,664,167 | State Street Institutional Treasury Plus Money Market Fund, 1.15% (d) | 51,664 | ||||||
|
| |||||||
Total Mutual Funds | 57,297 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.29% | ||||||||
$ | 5,241 | Jefferies LLC, 1.50%, 1/2/18 (Purchased on 12/29/17, proceeds at maturity $5,241,900 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $5,345,847)^^ | 5,241 | |||||
|
| |||||||
Total Repurchase Agreement | 5,241 | |||||||
|
| |||||||
Total Investments | 1,828,529 | |||||||
Liabilities in excess of other assets — (0.94%) | (17,020 | ) | ||||||
Net Assets — 100.00% | $ | 1,811,509 | ||||||
|
|
See accompanying notes to financial statements.
115
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
* | Security was fair valued on December 31, 2017 and represents a Level 2 security. Refer to Note 2 in the Notes to Financial Statements. |
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $15,296 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
(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) | These securities have been deemed illiquid by the Specialist Manager and represents 1.66% of the Portfolio’s net assets. |
(d) | The rate disclosed is the rate in effect on December 31, 2017. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
GDR — Global Depositary Receipt
NVDR — Non-Voting Depository Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Emerging Markets Portfolio | The Boston Company Asset Management, LLC | Mellon Capital Management Corporation | Parametric Portfolio Associates, LLC | RBC Global Asset Management (UK) Limited | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 43.73 | % | 28.12 | % | — | 20.54 | % | — | 92.39 | % | ||||||||||||||
Preferred Stocks | 1.04 | % | 0.97 | % | — | 0.07 | % | — | 2.08 | % | ||||||||||||||
Right | 0.01 | % | — | — | — | — | 0.01 | % | ||||||||||||||||
Time Deposit | 0.58 | % | — | — | — | — | 0.58 | % | ||||||||||||||||
Exchange-Traded Fund | 1.15 | % | 1.28 | % | — | — | — | 2.43 | % | |||||||||||||||
Mutual Funds | 0.31 | % | 0.02 | % | 2.59 | % | 0.24 | % | 0.00 | % | 3.16 | % | ||||||||||||
Repurchase Agreement | 0.29 | % | — | — | — | — | 0.29 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.45 | % | 0.22 | % | -0.71 | % | 0.00 | % | 0.00 | % | -0.94 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 46.66 | % | 30.61 | % | 1.88 | % | 20.85 | % | 0.00 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
Mini MSCI Emerging Markets Index Future | 846 | 3/16/18 | $ | 46,675 | $ | 49,225 | $ | 2,550 | ||||||||||
|
|
|
|
|
| |||||||||||||
$ | 46,675 | $ | 49,225 | $ | 2,550 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 2,550 | ||||||||||||||||
Total Unrealized Depreciation | — | |||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 2,550 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
116
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Forward Currency Contracts
Long Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||
Hong Kong Dollar | 331 | U.S. Dollar | 43 | State Street Corporation | 11/3/18 | $ | — | |||||||||||
|
| |||||||||||||||||
$ | — | |||||||||||||||||
|
| |||||||||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | — | |||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
117
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Asset Backed Securities — 0.30% | ||||||||||||||||
$ | 25 | BMW Vehicle Owner Trust, Series 2016-A, Class A4, Callable 3/25/20 @ 100.00 | 1.37 | 12/27/22 | $ | 25 | ||||||||||
50 | Capital One Multi-Asset Execution Trust, Series 2017-A4, Class A4 | 1.99 | 7/17/23 | 49 | ||||||||||||
25 | CarMax Auto Owner Trust, Series 2017-2, Class A4, Callable 12/15/20 @ 100.00 | 2.25 | 9/15/22 | 25 | ||||||||||||
25 | Ford Credit Auto Lease Trust, Series 2017-A, Class A3, Callable 9/15/19 @ 100.00 | 1.88 | 4/15/20 | 25 | ||||||||||||
25 | Ford Credit Auto Owner Trust, Series 2016-A, Class A4, Callable 10/15/19 @ 100.00 | 1.60 | 6/15/21 | 25 | ||||||||||||
25 | Toyota Auto Receivables Owner Trust, Series 2017-A, Class A4, Callable 11/15/20 @ 100.00 | 2.10 | 9/15/22 | 25 | ||||||||||||
43 | World Financial Network Credit Card Master Trust, Series 2016-A, Class A | 2.03 | 4/15/25 | 42 | ||||||||||||
|
| |||||||||||||||
Total Asset Backed Securities | 216 | |||||||||||||||
|
| |||||||||||||||
Collateralized Mortgage Obligations — 1.38% | ||||||||||||||||
40 | Bank, Series 2017- BNK8, Class A3 | 3.23 | 11/15/50 | 40 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4 | 2.88 | 2/10/48 | 25 | ||||||||||||
20 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5 | 3.14 | 2/10/48 | 20 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4 | 3.31 | 4/10/49 | 25 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 26 | ||||||||||||
19 | Commercial Mortgage Trust, Series 2014-CR15, Class A2 | 2.93 | 2/10/47 | 19 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2015-LC19, Class A4 | 3.18 | 2/10/48 | 25 | ||||||||||||
20 | Commercial Mortgage Trust, Series 2015-DC1, Class A5 | 3.35 | 2/10/48 | 20 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 | | 3.61 (US LIBOR) | (a) | 6/10/46 | 26 | ||||||||||
25 | Commercial Mortgage Trust, Series 2014-UBS3, Class A4 | 3.82 | 6/10/47 | 26 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2013-CR11, Class B | | 5.16 (US LIBOR) | (a) | 8/10/50 | 27 | ||||||||||
50 | Fannie Mae, Series 2016-M1, Class A2 | | 2.94 (US LIBOR) | (a) | 1/25/26 | 51 | ||||||||||
25 | Fannie Mae-ACES, Series 2017-M7, Class A2 | 2.96 | 2/25/27 | 25 | ||||||||||||
30 | Fannie Mae-ACES, Series 2014-M9, Class A2 | | 3.10 (US LIBOR) | (a) | 7/25/24 | 31 | ||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class A2 | 2.31 | 8/25/22 | 25 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 25 | ||||||||||||
13 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 13 | ||||||||||||
30 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class A2 | | 3.06 (US LIBOR) | (a) | 7/25/23 | 31 | ||||||||||
50 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K043, Class A2 | 3.06 | 12/25/24 | 52 | ||||||||||||
19 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K716, Class A2 | 3.13 | 6/25/21 | 19 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K052, Class A2 | 3.15 | 11/25/25 | 26 | ||||||||||||
35 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A2 | | 3.31 (US LIBOR) | (a) | 5/25/23 | 36 | ||||||||||
20 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K006, Class A2 | 4.25 | 1/25/20 | 21 | ||||||||||||
20 | GS Mortgage Securities Trust, Series 2015-GC32, Class A2 | 3.06 | 7/10/48 | 20 | ||||||||||||
25 | GS Mortgage Securities Trust, Series 2017-GS5, Class A2 | 3.22 | 3/10/50 | 26 | ||||||||||||
17 | GS Mortgage Securities Trust, Series 2014-GC20, Class A3 | 3.68 | 4/10/47 | 17 | ||||||||||||
25 | GS Mortgage Securities Trust, Series 2013-GC14, Class A5 | 4.24 | 8/10/46 | 27 | ||||||||||||
25 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C24, Class A5 | 3.64 | 11/15/47 | 26 | ||||||||||||
25 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class A4, | 3.80 | 9/15/47 | 26 | ||||||||||||
24 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | 24 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series 2015-C21, Class ASB | 3.15 | 3/15/48 | 25 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series 2013-C9, Class AS | 3.46 | 5/15/46 | 25 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series 2017-C33, Class A5 | 3.60 | 5/15/50 | 26 | ||||||||||||
25 | SG Commercial Mortgage Securities Trust, Series 2016-C5, Class A4 | 3.06 | 10/10/48 | 25 | ||||||||||||
30 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C4, Class A5 | 2.85 | 12/10/45 | 30 | ||||||||||||
50 | Wells Fargo Commercial Mortgage Trust, Series 2016-C36, Class ASB | 2.93 | 11/15/59 | 51 | ||||||||||||
11 | WF-RBS Commercial Mortgage Trust, Series 2012-C7, Class A1 | 2.30 | 6/15/45 | 11 | ||||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 993 | |||||||||||||||
|
|
See accompanying notes to financial statements.
118
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages — 21.60% | ||||||||||||||||
$ | 56 | Fannie Mae, Pool #AS2673 | 2.00 | 5/1/29 | $ | 55 | ||||||||||
85 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 86 | ||||||||||||
36 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 35 | ||||||||||||
23 | Fannie Mae, Pool #MA2789 | 2.50 | 10/1/36 | 22 | ||||||||||||
25 | Fannie Mae, Pool #MA3246 | 2.50 | 1/1/33 | 25 | ||||||||||||
26 | Fannie Mae, Pool #AS4946 | 2.50 | 5/1/30 | 26 | ||||||||||||
23 | Fannie Mae, Pool #BE3032 | 2.50 | 1/1/32 | 23 | ||||||||||||
84 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 85 | ||||||||||||
55 | Fannie Mae, Pool #AU1660 | 2.50 | 7/1/28 | 55 | ||||||||||||
54 | Fannie Mae, Pool #AU6677 | 2.50 | 9/1/28 | 55 | ||||||||||||
46 | Fannie Mae, Pool #BC9041 | 2.50 | 11/1/31 | 46 | ||||||||||||
22 | Fannie Mae, Pool #BE2201 | 2.50 | 12/1/31 | 22 | ||||||||||||
26 | Fannie Mae, Series 2015-M1, Class A2 | 2.53 | 9/25/24 | 26 | ||||||||||||
14 | Fannie Mae, Pool #AO7628 | 3.00 | 6/1/27 | 15 | ||||||||||||
19 | Fannie Mae, Pool #890566 | 3.00 | 12/1/43 | 20 | ||||||||||||
47 | Fannie Mae, Pool #BC9681 | 3.00 | 6/1/46 | 47 | ||||||||||||
46 | Fannie Mae, Pool #BD5797 | 3.00 | 9/1/46 | 46 | ||||||||||||
28 | Fannie Mae, Pool #AZ2936 | 3.00 | 9/1/45 | 29 | ||||||||||||
82 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 84 | ||||||||||||
104 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 105 | ||||||||||||
70 | Fannie Mae, Pool #AS0302 | 3.00 | 8/1/43 | 71 | ||||||||||||
24 | Fannie Mae, Pool #BD5545 | 3.00 | 10/1/46 | 24 | ||||||||||||
53 | Fannie Mae, Pool #AS5977 | 3.00 | 10/1/30 | 54 | ||||||||||||
142 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 143 | ||||||||||||
79 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 80 | ||||||||||||
19 | Fannie Mae, Pool #MA2523 | 3.00 | 2/1/36 | 20 | ||||||||||||
41 | Fannie Mae, Pool #MA3662 | 3.00 | 5/20/46 | 42 | ||||||||||||
47 | Fannie Mae, Pool #BC4764 | 3.00 | 10/1/46 | 47 | ||||||||||||
18 | Fannie Mae, Pool #MA2416 | 3.00 | 10/1/35 | 18 | ||||||||||||
24 | Fannie Mae, Pool #MA2863 | 3.00 | 1/1/47 | 24 | ||||||||||||
49 | Fannie Mae, Pool #MA3082 | 3.00 | 7/1/47 | 49 | ||||||||||||
23 | Fannie Mae, Pool #MA2897 | 3.00 | 2/1/37 | 24 | ||||||||||||
65 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 65 | ||||||||||||
67 | Fannie Mae, Pool #MA2246 | 3.00 | 4/1/30 | 68 | ||||||||||||
48 | Fannie Mae, Pool #BD2446 | 3.00 | 1/1/47 | 48 | ||||||||||||
89 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 89 | ||||||||||||
47 | Fannie Mae, Pool #BC9003 | 3.00 | 11/1/46 | 47 | ||||||||||||
50 | Fannie Mae, Pool #AB2047 | 3.00 | 1/1/26 | 51 | ||||||||||||
32 | Fannie Mae, Pool #AU3353 | 3.00 | 8/1/43 | 32 | ||||||||||||
45 | Fannie Mae, Pool #AS7908 | 3.00 | 9/1/46 | 45 | ||||||||||||
65 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 65 | ||||||||||||
66 | Fannie Mae, Pool #AT2127 | 3.00 | 4/1/43 | 66 | ||||||||||||
59 | Fannie Mae, Pool #AY2961 | 3.00 | 5/1/45 | 59 | ||||||||||||
42 | Fannie Mae, Pool #AU8932 | 3.00 | 11/1/28 | 43 | ||||||||||||
95 | Fannie Mae, Pool #AS8483 | 3.00 | 12/1/46 | 95 | ||||||||||||
46 | Fannie Mae, Pool #AS8276 | 3.00 | 11/1/46 | 46 | ||||||||||||
24 | Fannie Mae, Pool #AS8739 | 3.00 | 2/1/37 | 24 | ||||||||||||
21 | Fannie Mae, Pool #BC1074 | 3.50 | 12/1/45 | 22 | ||||||||||||
106 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 109 | ||||||||||||
54 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 56 | ||||||||||||
13 | Fannie Mae, Pool #AX0103 | 3.50 | 8/1/29 | 13 | ||||||||||||
44 | Fannie Mae, Pool #AX9530 | 3.50 | 2/1/45 | 46 | ||||||||||||
62 | Fannie Mae, Pool #MA2125 | 3.50 | 12/1/44 | 64 | ||||||||||||
23 | Fannie Mae, Pool #BD5046 | 3.50 | 2/1/47 | 24 |
See accompanying notes to financial statements.
119
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 35 | Fannie Mae, Pool #AY3377 | 3.50 | 4/1/45 | $ | 36 | ||||||||||
20 | Fannie Mae, Pool #MA2389 | 3.50 | 9/1/35 | 21 | ||||||||||||
46 | Fannie Mae, Pool #MA1980 | 3.50 | 8/1/44 | 47 | ||||||||||||
20 | Fannie Mae, Pool #AS6394 | 3.50 | 12/1/45 | 20 | ||||||||||||
36 | Fannie Mae, Pool #MA3105 | 3.50 | 9/20/45 | 38 | ||||||||||||
29 | Fannie Mae, Pool #MA2826 | 3.50 | 5/20/45 | 30 | ||||||||||||
24 | Fannie Mae, Pool #MA3059 | 3.50 | 7/1/37 | 25 | ||||||||||||
20 | Fannie Mae, Pool #MA2522 | 3.50 | 2/1/46 | 20 | ||||||||||||
42 | Fannie Mae, Pool #MA2706 | 3.50 | 8/1/46 | 43 | ||||||||||||
43 | Fannie Mae, Pool #BA3123 | 3.50 | 2/1/46 | 44 | ||||||||||||
18 | Fannie Mae, Pool #BA1893 | 3.50 | 8/1/45 | 19 | ||||||||||||
33 | Fannie Mae, Pool #BE1435 | 3.50 | 12/1/46 | 34 | ||||||||||||
12 | Fannie Mae, Pool #AX0159 | 3.50 | 9/1/29 | 12 | ||||||||||||
50 | Fannie Mae, Pool #AB2052 | 3.50 | 1/1/26 | 51 | ||||||||||||
42 | Fannie Mae, Pool #BC2926 | 3.50 | 3/1/46 | 43 | ||||||||||||
24 | Fannie Mae, Pool #BC0443 | 3.50 | 12/1/45 | 24 | ||||||||||||
19 | Fannie Mae, Pool #AJ1886 | 3.50 | 3/1/42 | 20 | ||||||||||||
17 | Fannie Mae, Pool #AS5596 | 3.50 | 8/1/45 | 17 | ||||||||||||
17 | Fannie Mae, Pool #AS4236 | 3.50 | 1/1/45 | 17 | ||||||||||||
31 | Fannie Mae, Pool #AJ4867 | 3.50 | 1/1/42 | 32 | ||||||||||||
64 | Fannie Mae, Pool #AS4771 | 3.50 | 4/1/45 | 65 | ||||||||||||
52 | Fannie Mae, Pool #AS4772 | 3.50 | 4/1/45 | 53 | ||||||||||||
34 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 35 | ||||||||||||
40 | Fannie Mae, Pool #AS6102 | 3.50 | 11/1/45 | 41 | ||||||||||||
41 | Fannie Mae, Pool #AS7388 | 3.50 | 6/1/46 | 43 | ||||||||||||
97 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 100 | ||||||||||||
44 | Fannie Mae, Pool #AS7491 | 3.50 | 7/1/46 | 45 | ||||||||||||
213 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 220 | ||||||||||||
38 | Fannie Mae, Pool #AZ0862 | 3.50 | 7/1/45 | 39 | ||||||||||||
68 | Fannie Mae, Pool #AS3133 | 3.50 | 8/1/44 | 71 | ||||||||||||
26 | Fannie Mae, Pool #AT2673 | 3.50 | 4/1/43 | 27 | ||||||||||||
20 | Fannie Mae, Pool #AZ7362 | 4.00 | 11/1/45 | 21 | ||||||||||||
48 | Fannie Mae, Pool #AS9831 | 4.00 | 6/1/47 | 50 | ||||||||||||
51 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 54 | ||||||||||||
132 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 139 | ||||||||||||
54 | Fannie Mae, Pool #AS3468 | 4.00 | 10/1/44 | 56 | ||||||||||||
47 | Fannie Mae, Pool #BM2002 | 4.00 | 10/1/47 | 50 | ||||||||||||
23 | Fannie Mae, Pool #AS8532 | 4.00 | 12/1/46 | 24 | ||||||||||||
47 | Fannie Mae, Pool #AS9314 | 4.00 | 3/1/47 | 50 | ||||||||||||
33 | Fannie Mae, Pool #AS3452 | 4.00 | 9/1/44 | 35 | ||||||||||||
42 | Fannie Mae, Pool #AS6213 | 4.00 | 11/1/45 | 44 | ||||||||||||
44 | Fannie Mae, Pool #AX0841 | 4.00 | 9/1/44 | 46 | ||||||||||||
73 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 77 | ||||||||||||
32 | Fannie Mae, Pool #MA0534 | 4.00 | 10/1/30 | 34 | ||||||||||||
12 | Fannie Mae, Pool #AZ1210 | 4.00 | 5/1/45 | 13 | ||||||||||||
51 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 54 | ||||||||||||
27 | Fannie Mae, Pool #AU8849 | 4.00 | 11/1/43 | 29 | ||||||||||||
15 | Fannie Mae, Pool #AV0606 | 4.00 | 11/1/43 | 15 | ||||||||||||
51 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 53 | ||||||||||||
48 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 50 | ||||||||||||
46 | Fannie Mae, Pool #AS3293 | 4.00 | 9/1/44 | 49 | ||||||||||||
27 | Fannie Mae, Pool #AS3975 | 4.00 | 12/1/44 | 28 | ||||||||||||
15 | Fannie Mae, Pool #AY9901 | 4.00 | 7/1/45 | 16 | ||||||||||||
56 | Fannie Mae, Pool #AS3467 | 4.00 | 10/1/44 | 58 | ||||||||||||
21 | Fannie Mae, Pool #MA2415 | 4.00 | 10/1/45 | 22 |
See accompanying notes to financial statements.
120
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 49 | Fannie Mae, Pool #MA3121 | 4.00 | 9/1/47 | $ | 51 | ||||||||||
4 | Fannie Mae, Pool #745278 | 4.50 | 6/1/19 | 5 | ||||||||||||
10 | Fannie Mae, Pool #829106 | 4.50 | 10/1/20 | 11 | ||||||||||||
12 | Fannie Mae, Pool #930998 | 4.50 | 4/1/29 | 13 | ||||||||||||
21 | Fannie Mae, Pool #BE6489 | 4.50 | 1/1/47 | 22 | ||||||||||||
32 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 34 | ||||||||||||
3 | Fannie Mae, Pool #AB0339 | 4.50 | 1/1/20 | 3 | ||||||||||||
17 | Fannie Mae, Pool #AU9017 | 4.50 | 9/1/43 | 18 | ||||||||||||
69 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 74 | ||||||||||||
85 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 91 | ||||||||||||
50 | Fannie Mae, Pool #AI1888 | 4.50 | 5/1/41 | 54 | ||||||||||||
24 | Fannie Mae, Pool #BH3310 | 4.50 | 5/1/47 | 26 | ||||||||||||
24 | Fannie Mae, Pool #AL6567 | 4.50 | 10/1/44 | 26 | ||||||||||||
63 | Fannie Mae, Pool #AE0954 | 4.50 | 2/1/41 | 68 | ||||||||||||
4 | Fannie Mae, Pool #735646 | 4.50 | 7/1/20 | 5 | ||||||||||||
21 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 22 | ||||||||||||
22 | Fannie Mae, Pool #AS2751 | 4.50 | 6/1/44 | 23 | ||||||||||||
31 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 34 | ||||||||||||
27 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 30 | ||||||||||||
94 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 102 | ||||||||||||
11 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 12 | ||||||||||||
13 | Fannie Mae, Pool #725027 | 5.00 | 11/1/33 | 14 | ||||||||||||
12 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 13 | ||||||||||||
72 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 82 | ||||||||||||
29 | Fannie Mae, Pool #959451 | 6.00 | 12/1/37 | 32 | ||||||||||||
39 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 44 | ||||||||||||
29 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 32 | ||||||||||||
24 | Fannie Mae, Pool #AL0583 | 6.50 | 10/1/39 | 27 | ||||||||||||
7 | Fannie Mae, Pool #888596 | 6.50 | 7/1/37 | 8 | ||||||||||||
25 | Fannie Mae, 15 YR TBA | 3.00 | 2/25/31 | 25 | ||||||||||||
50 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/32 | 51 | ||||||||||||
100 | Fannie Mae, 30 YR TBA | 3.00 | 1/25/48 | 100 | ||||||||||||
325 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/48 | 334 | ||||||||||||
50 | Fannie Mae, 30 YR TBA | 3.50 | 2/25/48 | 51 | ||||||||||||
125 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/46 | 131 | ||||||||||||
34 | Freddie Mac, Pool #J25686 | 2.00 | 9/1/28 | 33 | ||||||||||||
55 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 55 | ||||||||||||
99 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 100 | ||||||||||||
23 | Freddie Mac, Pool #G18635 | 2.50 | 3/1/32 | 23 | ||||||||||||
19 | Freddie Mac, Pool #G07445 | 2.50 | 7/1/43 | 19 | ||||||||||||
55 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 55 | ||||||||||||
45 | Freddie Mac, Pool #J35896 | 2.50 | 12/1/31 | 45 | ||||||||||||
29 | Freddie Mac, Pool #K90311 | 3.00 | 4/1/33 | 29 | ||||||||||||
44 | Freddie Mac, Pool #J31327 | 3.00 | 4/1/30 | 45 | ||||||||||||
135 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 136 | ||||||||||||
40 | Freddie Mac, Pool #J25193 | 3.00 | 8/1/23 | 41 | ||||||||||||
73 | Freddie Mac, Pool #G08524 | 3.00 | 3/1/43 | 73 | ||||||||||||
21 | Freddie Mac, Pool #G18601 | 3.00 | 5/1/31 | 22 | ||||||||||||
73 | Freddie Mac, Pool #G08631 | 3.00 | 3/1/45 | 73 | ||||||||||||
39 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 39 | ||||||||||||
24 | Freddie Mac, Pool #Q44452 | 3.00 | 11/1/46 | 24 | ||||||||||||
43 | Freddie Mac, Pool #C91709 | 3.00 | 6/1/33 | 44 | ||||||||||||
14 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 14 | ||||||||||||
31 | Freddie Mac, Pool #J15438 | 3.00 | 5/1/21 | 32 |
See accompanying notes to financial statements.
121
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 50 | Freddie Mac, Pool #G18663 | 3.00 | 10/1/32 | $ | 51 | ||||||||||
34 | Freddie Mac, Pool #Q20138 | 3.00 | 7/1/43 | 34 | ||||||||||||
49 | Freddie Mac, Pool #G60989 | 3.00 | 12/1/46 | 49 | ||||||||||||
157 | Freddie Mac, Pool #C09035 | 3.00 | 4/1/43 | 158 | ||||||||||||
16 | Freddie Mac, Pool #C91809 | 3.00 | 2/1/35 | 16 | ||||||||||||
76 | Freddie Mac, Pool #G08635 | 3.00 | 4/1/45 | 76 | ||||||||||||
40 | Freddie Mac, Pool #G08680 | 3.00 | 12/1/45 | 40 | ||||||||||||
48 | Freddie Mac, Pool #G08750 | 3.00 | 3/1/47 | 48 | ||||||||||||
47 | Freddie Mac, Pool #G08737 | 3.00 | 12/1/46 | 47 | ||||||||||||
23 | Freddie Mac, Pool #G08732 | 3.00 | 11/1/46 | 23 | ||||||||||||
95 | Freddie Mac, Pool #G08741 | 3.00 | 1/1/47 | 95 | ||||||||||||
24 | Freddie Mac, Pool #G08757 | 3.50 | 4/1/47 | 24 | ||||||||||||
23 | Freddie Mac, Pool #Q20614 | 3.50 | 8/1/43 | 23 | ||||||||||||
54 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 56 | ||||||||||||
24 | Freddie Mac, Pool #J13919 | 3.50 | 12/1/20 | 25 | ||||||||||||
38 | Freddie Mac, Pool #G08693 | 3.50 | 3/1/46 | 39 | ||||||||||||
19 | Freddie Mac, Pool #Q40395 | 3.50 | 5/1/46 | 20 | ||||||||||||
46 | Freddie Mac, Pool #Q18101 | 3.50 | 5/1/43 | 48 | ||||||||||||
39 | Freddie Mac, Pool #Q43933 | 3.50 | 10/1/46 | 40 | ||||||||||||
75 | Freddie Mac, Pool #G08681 | 3.50 | 12/1/45 | 77 | ||||||||||||
41 | Freddie Mac, Pool #G08687 | 3.50 | 1/1/46 | 42 | ||||||||||||
16 | Freddie Mac, Pool #J30284 | 3.50 | 11/1/29 | 17 | ||||||||||||
49 | Freddie Mac, Pool #G61148 | 3.50 | 9/1/47 | 51 | ||||||||||||
65 | Freddie Mac, Pool #G08554 | 3.50 | 10/1/43 | 67 | ||||||||||||
57 | Freddie Mac, Pool #C03759 | 3.50 | 2/1/42 | 59 | ||||||||||||
42 | Freddie Mac, Pool #G08698 | 3.50 | 3/1/46 | 43 | ||||||||||||
68 | Freddie Mac, Pool #G08667 | 3.50 | 9/1/45 | 70 | ||||||||||||
47 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 49 | ||||||||||||
18 | Freddie Mac, Pool #G08627 | 3.50 | 2/1/45 | 19 | ||||||||||||
24 | Freddie Mac, Pool #J14069 | 3.50 | 1/1/26 | 24 | ||||||||||||
116 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 120 | ||||||||||||
82 | Freddie Mac, Pool #G08636 | 3.50 | 4/1/45 | 84 | ||||||||||||
21 | Freddie Mac, Pool #G08702 | 3.50 | 4/1/46 | 22 | ||||||||||||
21 | Freddie Mac, Pool #G08623 | 3.50 | 1/1/45 | 21 | ||||||||||||
4 | Freddie Mac, Pool #J06163 | 4.00 | 1/1/20 | 4 | ||||||||||||
75 | Freddie Mac, Pool #G08637 | 4.00 | 4/1/45 | 78 | ||||||||||||
41 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 43 | ||||||||||||
20 | Freddie Mac, Pool #C91395 | 4.00 | 9/1/31 | 21 | ||||||||||||
52 | Freddie Mac, Pool #G08606 | 4.00 | 9/1/44 | 54 | ||||||||||||
57 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 60 | ||||||||||||
42 | Freddie Mac, Pool #G08669 | 4.00 | 9/1/45 | 44 | ||||||||||||
83 | Freddie Mac, Pool #G08601 | 4.00 | 8/1/44 | 87 | ||||||||||||
42 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 44 | ||||||||||||
30 | Freddie Mac, Pool #G08563 | 4.00 | 1/1/44 | 31 | ||||||||||||
51 | Freddie Mac, Pool #G06506 | 4.00 | 12/1/40 | 54 | ||||||||||||
48 | Freddie Mac, Pool #G08775 | 4.00 | 8/1/47 | 51 | ||||||||||||
44 | Freddie Mac, Pool #G08752 | 4.00 | 3/1/47 | 46 | ||||||||||||
14 | Freddie Mac, Pool #G11690 | 4.00 | 2/1/20 | 14 | ||||||||||||
38 | Freddie Mac, Pool #Q22671 | 4.50 | 11/1/43 | 41 | ||||||||||||
9 | Freddie Mac, Pool #J10406 | 4.50 | 8/1/24 | 9 | ||||||||||||
47 | Freddie Mac, Pool #G01890 | 4.50 | 10/1/35 | 50 | ||||||||||||
18 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | 19 | ||||||||||||
66 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 70 | ||||||||||||
28 | Freddie Mac, Pool #Q04294 | 4.50 | 11/1/41 | 30 |
See accompanying notes to financial statements.
122
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 44 | Freddie Mac, Pool #G18303 | 4.50 | 3/1/24 | $ | 46 | ||||||||||
10 | Freddie Mac, Pool #C90686 | 4.50 | 6/1/23 | 11 | ||||||||||||
23 | Freddie Mac, Pool #A97186 | 4.50 | 3/1/41 | 25 | ||||||||||||
24 | Freddie Mac, Pool #G08341 | 5.00 | 4/1/39 | 26 | ||||||||||||
28 | Freddie Mac, Pool #G01962 | 5.00 | 12/1/35 | 31 | ||||||||||||
31 | Freddie Mac, Pool #G05904 | 5.00 | 9/1/39 | 34 | ||||||||||||
22 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 24 | ||||||||||||
28 | Freddie Mac, Pool #G04817 | 5.00 | 9/1/38 | 30 | ||||||||||||
138 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 154 | ||||||||||||
56 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 64 | ||||||||||||
15 | Freddie Mac, Pool #G03616 | 6.00 | 12/1/37 | 17 | ||||||||||||
5 | Freddie Mac, Pool #C90989 | 6.00 | 9/1/26 | 6 | ||||||||||||
25 | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/33 | 25 | ||||||||||||
75 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/48 | 75 | ||||||||||||
225 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/48 | 231 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 3.50 | 2/15/47 | 26 | ||||||||||||
75 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/48 | 78 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 4.00 | 2/15/48 | 26 | ||||||||||||
12 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 12 | ||||||||||||
18 | Government National Mortgage Association, Pool #G25339 | 2.50 | 3/20/27 | 18 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4194 | 2.50 | 1/20/47 | 23 | ||||||||||||
13 | Government National Mortgage Association, Pool #MA1155 | 2.50 | 7/20/43 | 13 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4355 | 2.50 | 4/20/32 | 24 | ||||||||||||
35 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 35 | ||||||||||||
54 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 54 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA3735 | 3.00 | 6/20/46 | 21 | ||||||||||||
52 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 53 | ||||||||||||
39 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 40 | ||||||||||||
52 | Government National Mortgage Association, Pool #MA1011 | 3.00 | 5/20/43 | 53 | ||||||||||||
26 | Government National Mortgage Association, Pool #AA5897 | 3.00 | 12/15/42 | 27 | ||||||||||||
60 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 61 | ||||||||||||
37 | Government National Mortgage Association, Pool #MA3309 | 3.00 | 12/20/45 | 37 | ||||||||||||
57 | Government National Mortgage Association, Pool #MA2147 | 3.00 | 8/20/44 | 58 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4261 | 3.00 | 2/20/47 | 24 | ||||||||||||
30 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 30 | ||||||||||||
43 | Government National Mortgage Association, Pool #MA3802 | 3.00 | 7/20/46 | 44 | ||||||||||||
45 | Government National Mortgage Association, Pool #MA3936 | 3.00 | 9/20/46 | 45 | ||||||||||||
60 | Government National Mortgage Association, Pool #MA1447 | 3.00 | 11/20/43 | 61 | ||||||||||||
20 | Government National Mortgage Association, Pool #MA3596 | 3.00 | 4/20/46 | 20 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA4320 | 3.00 | 3/20/47 | 47 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA2444 | 3.00 | 12/20/44 | 25 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA2960 | 3.00 | 7/20/45 | 37 | ||||||||||||
23 | Government National Mortgage Association, Pool #AM4971 | 3.50 | 4/20/45 | 24 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA0318 | 3.50 | 8/20/42 | 47 | ||||||||||||
24 | Government National Mortgage Association, Pool #AJ0411 | 3.50 | 9/15/44 | 25 | ||||||||||||
151 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 157 | ||||||||||||
82 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 85 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 44 | ||||||||||||
35 | Government National Mortgage Association, Pool #MA2223 | 3.50 | 9/20/44 | 36 | ||||||||||||
38 | Government National Mortgage Association, Pool #MA2371 | 3.50 | 11/20/44 | 39 | ||||||||||||
37 | Government National Mortgage Association, Pool #MA3597 | 3.50 | 4/20/46 | 38 | ||||||||||||
11 | Government National Mortgage Association, Pool #MA1600 | 3.50 | 1/20/44 | 11 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA1012 | 3.50 | 5/20/43 | 25 | ||||||||||||
22 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 22 | ||||||||||||
45 | Government National Mortgage Association, Pool #MA0154 | 3.50 | 6/20/42 | 46 |
See accompanying notes to financial statements.
123
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 47 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | $ | 49 | ||||||||||
16 | Government National Mortgage Association, Pool #AB9211 | 3.50 | 11/15/42 | 17 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 19 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA4127 | 3.50 | 12/20/46 | 23 | ||||||||||||
35 | Government National Mortgage Association, Pool #MA3376 | 3.50 | 1/20/46 | 37 | ||||||||||||
45 | Government National Mortgage Association, Pool #MA4262 | 3.50 | 2/20/47 | 47 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA4004 | 3.50 | 10/20/46 | 44 | ||||||||||||
19 | Government National Mortgage Association, Pool #MA3454 | 3.50 | 2/20/46 | 20 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA2961 | 3.50 | 7/20/45 | 32 | ||||||||||||
40 | Government National Mortgage Association, Pool #MA3736 | 3.50 | 6/20/46 | 41 | ||||||||||||
34 | Government National Mortgage Association, Pool #MA3310 | 3.50 | 12/20/45 | 35 | ||||||||||||
19 | Government National Mortgage Association, Pool #MA3663 | 3.50 | 5/20/46 | 20 | ||||||||||||
49 | Government National Mortgage Association, Pool #MA4652 | 3.50 | 8/20/47 | 51 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA3937 | 3.50 | 9/20/46 | 43 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA3803 | 3.50 | 7/20/46 | 42 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA3874 | 3.50 | 8/20/46 | 43 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA4719 | 3.50 | 9/20/47 | 26 | ||||||||||||
27 | Government National Mortgage Association, Pool #MA2224 | 4.00 | 9/20/44 | 28 | ||||||||||||
26 | Government National Mortgage Association, Pool #MA2304 | 4.00 | 10/20/44 | 28 | ||||||||||||
15 | Government National Mortgage Association, Pool #MA3245 | 4.00 | 11/20/45 | 15 | ||||||||||||
83 | Government National Mortgage Association, Pool #MA1091 | 4.00 | 6/20/43 | 87 | ||||||||||||
19 | Government National Mortgage Association, Pool #AL7545 | 4.00 | 4/15/45 | 20 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA2372 | 4.00 | 11/20/44 | 25 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 33 | ||||||||||||
26 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 27 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA4263 | 4.00 | 2/20/47 | 22 | ||||||||||||
16 | Government National Mortgage Association, Pool #MA3377 | 4.00 | 1/20/46 | 16 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA3737 | 4.00 | 6/20/46 | 19 | ||||||||||||
35 | Government National Mortgage Association, Pool #MA2149 | 4.00 | 8/20/44 | 37 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA3522 | 4.00 | 3/20/46 | 25 | ||||||||||||
45 | Government National Mortgage Association, Pool #MA4383 | 4.00 | 4/20/47 | 47 | ||||||||||||
29 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 31 | ||||||||||||
49 | Government National Mortgage Association, Pool #MA4587 | 4.00 | 7/20/47 | 51 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA4322 | 4.00 | 3/20/47 | 23 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 27 | ||||||||||||
10 | Government National Mortgage Association, Pool #AD2781 | 4.00 | 10/15/43 | 11 | ||||||||||||
21 | Government National Mortgage Association, Pool #770602 | 4.00 | 9/15/41 | 22 | ||||||||||||
14 | Government National Mortgage Association, Pool #MA0023 | 4.00 | 4/20/42 | 14 | ||||||||||||
81 | Government National Mortgage Association, Pool #5139 | 4.00 | 8/20/41 | 86 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA4452 | 4.00 | 5/20/47 | 25 | ||||||||||||
48 | Government National Mortgage Association, Pool #MA4511 | 4.00 | 6/20/47 | 50 | ||||||||||||
11 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 11 | ||||||||||||
87 | Government National Mortgage Association, Pool #737310 | 4.50 | 8/15/40 | 92 | ||||||||||||
20 | Government National Mortgage Association, Pool #MA2373 | 4.50 | 11/20/44 | 21 | ||||||||||||
52 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 56 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA4721 | 4.50 | 9/20/47 | 26 | ||||||||||||
23 | Government National Mortgage Association, Pool #738906 | 4.50 | 10/15/41 | 24 | ||||||||||||
27 | Government National Mortgage Association, Pool #MA2756 | 4.50 | 4/20/45 | 29 | ||||||||||||
115 | Government National Mortgage Association, Pool #4801 | 4.50 | 9/20/40 | 122 | ||||||||||||
38 | Government National Mortgage Association, Pool #697946 | 5.00 | 3/15/39 | 41 | ||||||||||||
79 | Government National Mortgage Association, Pool #4559 | 5.00 | 10/20/39 | 87 | ||||||||||||
24 | Government National Mortgage Association, Pool #697974 | 5.00 | 6/15/40 | 26 | ||||||||||||
42 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 47 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 26 | ||||||||||||
41 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 46 |
See accompanying notes to financial statements.
124
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 24 | Government National Mortgage Association, Pool #4222 | 6.00 | 8/20/38 | $ | 27 | ||||||||||
3 | Government National Mortgage Association, Pool #582199 | 6.50 | 1/15/32 | 3 | ||||||||||||
425 | Government National Mortgage Association, 30 YR TBA | 3.00 | 1/20/48 | 429 | ||||||||||||
475 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/48 | 492 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/48 | 26 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 15,555 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Securities — 1.41% | ||||||||||||||||
25 | Fannie Mae | 1.00 | 8/28/19 | 25 | ||||||||||||
25 | Fannie Mae | 1.13 | 7/26/19 | 25 | ||||||||||||
25 | Fannie Mae, Callable 3/9/18 @ 100.00 | 1.13 | 9/9/19 | 25 | ||||||||||||
65 | Fannie Mae | 1.25 | 5/6/21 | 63 | ||||||||||||
60 | Fannie Mae | 1.50 | 6/22/20 | 59 | ||||||||||||
50 | Fannie Mae, Callable 1/27/18 @ 100.00 | 1.70 | 1/27/20 | 50 | ||||||||||||
25 | Fannie Mae | 2.14 | (b)(c) | 10/9/19 | 24 | |||||||||||
10 | Fannie Mae | 5.63 | 7/15/37 | 14 | ||||||||||||
50 | Fannie Mae | 6.25 | 5/15/29 | 67 | ||||||||||||
20 | Fannie Mae | 6.63 | 11/15/30 | 28 | ||||||||||||
25 | Federal Home Loan Bank | 1.13 | 7/14/21 | 24 | ||||||||||||
50 | Federal Home Loan Bank | 1.13 | 6/21/19 | 49 | ||||||||||||
60 | Federal Home Loan Bank | 1.38 | 11/15/19 | 59 | ||||||||||||
25 | Federal Home Loan Bank | 1.38 | 9/28/20 | 25 | ||||||||||||
90 | Federal Home Loan Bank | 1.50 | 3/8/19 | 89 | ||||||||||||
25 | Federal Home Loan Bank | 2.13 | 3/10/23 | 25 | ||||||||||||
20 | Federal Home Loan Bank | 4.13 | 3/13/20 | 21 | ||||||||||||
15 | Federal Home Loan Bank | 5.63 | 6/11/21 | 17 | ||||||||||||
80 | Freddie Mac | 1.25 | 10/2/19 | 78 | ||||||||||||
25 | Freddie Mac | 1.38 | 5/1/20 | 25 | ||||||||||||
20 | Freddie Mac | 1.40 | 8/22/19 | 20 | ||||||||||||
25 | Freddie Mac | 1.50 | 1/17/20 | 25 | ||||||||||||
25 | Freddie Mac | 1.75 | 5/30/19 | 25 | ||||||||||||
40 | Freddie Mac | 2.38 | 1/13/22 | 40 | ||||||||||||
15 | Freddie Mac | 6.25 | 7/15/32 | 21 | ||||||||||||
25 | Freddie Mac | 6.75 | 9/15/29 | 35 | ||||||||||||
5 | Tennessee Valley Authority | 3.50 | 12/15/42 | 5 | ||||||||||||
20 | Tennessee Valley Authority | 5.88 | 4/1/36 | 28 | ||||||||||||
20 | Tennessee Valley Authority, Series E | 6.75 | 11/1/25 | 26 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Securities | 1,017 | |||||||||||||||
|
| |||||||||||||||
Corporate Bonds — 30.66% | ||||||||||||||||
110 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 9/30/23 @ 100.00 | 3.40 | 11/30/23 | 112 | ||||||||||||
185 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | 3.75 | 11/30/26 | 190 | ||||||||||||
155 | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | 4.50 | 5/14/35 | 169 | ||||||||||||
60 | Alabama Power Co., Series B (Electric Utilities), Callable 6/1/47 @ 100.00 | 3.70 | 12/1/47 | 61 | ||||||||||||
25 | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | 4.15 | 8/15/44 | 27 | ||||||||||||
130 | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | 2.50 | 8/1/22 | 128 | ||||||||||||
65 | American Express Credit Corp., MTN (Consumer Finance), Callable 1/31/22 @ 100.00 | 2.70 | 3/3/22 | 65 | ||||||||||||
270 | Ameriprise Financial, Inc. (Capital Markets) | 3.70 | 10/15/24 | 282 | ||||||||||||
95 | �� | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | 2.65 | 5/11/22 | 95 | |||||||||||
165 | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | 3.13 | 5/1/25 | 166 | ||||||||||||
100 | Amgen, Inc. (Biotechnology), Callable 8/15/21 @ 100.00 | 3.88 | 11/15/21 | 105 | ||||||||||||
200 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), | 3.90 | 12/15/25 | 209 | ||||||||||||
350 | Anheuser-Busch InBev Finance, Inc. (Beverages), Callable 11/1/25 @ 100.00 | 3.65 | 2/1/26 | 361 | ||||||||||||
165 | Anheuser-Busch InBev Finance, Inc. (Beverages), Callable 8/1/45 @ 100.00 | 4.90 | 2/1/46 | 191 | ||||||||||||
240 | Anthem, Inc. (Health Care Providers & Services) | 3.13 | 5/15/22 | 242 |
See accompanying notes to financial statements.
125
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HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 90 | Archer-Daniels-Midland Co. (Food Products) | 4.02 | 4/16/43 | $ | 95 | ||||||||||
50 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/14/23 @ 100.00 | 2.85 | 2/14/23 | 50 | ||||||||||||
110 | AT&T, Inc. (Diversified Telecommunication Services), Callable 5/14/27 @ 100.00 | 3.90 | 8/14/27 | 111 | ||||||||||||
135 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | 4.45 | 4/1/24 | 143 | ||||||||||||
205 | AT&T, Inc. (Diversified Telecommunication Services) | 5.35 | 9/1/40 | 216 | ||||||||||||
80 | AT&T, Inc. (Diversified Telecommunication Services) | 5.55 | 8/15/41 | 87 | ||||||||||||
40 | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | 4.13 | 10/15/44 | 44 | ||||||||||||
100 | Atmos Energy Corp. (Gas Utilities) | 8.50 | 3/15/19 | 107 | ||||||||||||
825 | Bank of America Corp., MTN (Banks) | 3.88 | 8/1/25 | 870 | ||||||||||||
110 | Bank One Corp. (Banks) | 8.00 | 4/29/27 | 147 | ||||||||||||
25 | Berkshire Hathaway, Inc. (Diversified Financial Services) | 4.40 | 5/15/42 | 28 | ||||||||||||
50 | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | 3.00 | 9/25/22 | 50 | ||||||||||||
145 | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | 3.25 | 8/15/26 | 139 | ||||||||||||
100 | Bunge Limited Finance Corp. (Food Products) | 8.50 | 6/15/19 | 108 | ||||||||||||
700 | Capital One Bank USA, Series BKNT (Consumer Finance), Callable 1/13/19 @ 100.00 | 2.25 | 2/13/19 | 700 | ||||||||||||
80 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 106 | ||||||||||||
210 | Citigroup, Inc. (Banks), Callable 11/8/21 @ 100.00 | 2.90 | 12/8/21 | 211 | ||||||||||||
390 | Citigroup, Inc. (Banks) | 3.40 | 5/1/26 | 392 | ||||||||||||
210 | Citigroup, Inc. (Banks) | 4.50 | 1/14/22 | 223 | ||||||||||||
250 | Coca-Cola Enterprises, Inc. (Beverages) | 3.50 | 9/15/20 | 257 | ||||||||||||
225 | Comcast Corp. (Media) | 4.75 | 3/1/44 | 258 | ||||||||||||
145 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 6.50 | 2/1/39 | 203 | ||||||||||||
20 | Consolidated Edison Company of New York, Inc., Series 08-B (Multi-Utilities) | 6.75 | 4/1/38 | 29 | ||||||||||||
180 | Constellation Brands, Inc. (Beverages) | 4.75 | 11/15/24 | 197 | ||||||||||||
190 | CSX Corp. (Road & Rail) | 6.22 | 4/30/40 | 252 | ||||||||||||
340 | CVS Health Corp. (Food & Staples Retailing), Callable 9/1/22 @ 100.00 | 2.75 | 12/1/22 | 335 | ||||||||||||
95 | CVS Health Corp. (Food & Staples Retailing), Callable 1/20/35 @ 100.00 | 4.88 | 7/20/35 | 105 | ||||||||||||
125 | Delphi Corp. (Auto Components), Callable 12/15/23 @ 100.00 | 4.15 | 3/15/24 | 132 | ||||||||||||
150 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/21 @ 100.00 | 4.00 | 7/15/21 | 156 | ||||||||||||
158 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | 5.60 | 7/15/41 | 186 | ||||||||||||
100 | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | 2.75 | 2/1/23 | 99 | ||||||||||||
225 | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | 3.60 | 12/15/24 | 230 | ||||||||||||
350 | Dominion Resources, Inc. (Multi-Utilities) | 5.20 | 8/15/19 | 365 | ||||||||||||
20 | Dow Chemical Co. (The) (Chemicals), Callable 4/1/34 @ 100.00 | 4.25 | 10/1/34 | 21 | ||||||||||||
15 | Dow Chemical Co. (The) (Chemicals), Callable 5/15/41 @ 100.00 | 5.25 | 11/15/41 | 17 | ||||||||||||
35 | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | 4.25 | 12/15/41 | 38 | ||||||||||||
60 | Duke Energy Carolinas LLC (Electric Utilities) | 5.30 | 2/15/40 | 75 | ||||||||||||
100 | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | 3.75 | 4/15/24 | 104 | ||||||||||||
269 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | 4.85 | 3/15/44 | 294 | ||||||||||||
75 | FedEx Corp. (Air Freight & Logistics) | 4.90 | 1/15/34 | 85 | ||||||||||||
55 | Fiserv, Inc. (IT Services), Callable 5/1/20 @ 100.00 | 2.70 | 6/1/20 | 55 | ||||||||||||
190 | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | 3.85 | 6/1/25 | 198 | ||||||||||||
283 | General Motors Co. (Automobiles) | 3.50 | 10/2/18 | 286 | ||||||||||||
60 | Gilead Sciences, Inc. (Biotechnology), Callable 12/1/25 @ 100.00 | 3.65 | 3/1/26 | 62 | ||||||||||||
71 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 79 | ||||||||||||
50 | GlaxoSmithKline PLC (Pharmaceuticals) | 6.38 | 5/15/38 | 70 | ||||||||||||
275 | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | 3.50 | 1/23/25 | 279 | ||||||||||||
530 | Goldman Sachs Group, Inc. (Capital Markets) | 5.25 | 7/27/21 | 575 | ||||||||||||
90 | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | 6.00 | 11/15/41 | 113 | ||||||||||||
45 | Interpublic Group of Companies, Inc. (Media) | 4.00 | 3/15/22 | 47 | ||||||||||||
250 | Interpublic Group of Companies, Inc. (Media) | 4.20 | 4/15/24 | 262 | ||||||||||||
50 | Johnson & Johnson (Pharmaceuticals), Callable 6/5/33 @ 100.00 | 4.38 | 12/5/33 | 57 | ||||||||||||
550 | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | 3.13 | 1/23/25 | 553 | ||||||||||||
50 | JPMorgan Chase & Co. (Banks) | 3.63 | 5/13/24 | 52 | ||||||||||||
15 | JPMorgan Chase & Co. (Banks) | 4.35 | 8/15/21 | 16 |
See accompanying notes to financial statements.
126
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 60 | Lincoln National Corp. (Insurance) | 4.85 | 6/24/21 | $ | 64 | ||||||||||
75 | Lincoln National Corp. (Insurance) | 7.00 | 6/15/40 | 103 | ||||||||||||
25 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/22 @ 100.00 | 3.10 | 1/15/23 | 25 | ||||||||||||
135 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | 4.50 | 5/15/36 | 152 | ||||||||||||
85 | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | 4.88 | 3/15/44 | 94 | ||||||||||||
25 | Medtronic, Inc. (Health Care Equipment & Supplies), Callable 9/15/43 @ 100.00 | 4.63 | 3/15/44 | 29 | ||||||||||||
100 | Medtronic, Inc. (Health Care Equipment & Supplies) | 4.63 | 3/15/45 | 116 | ||||||||||||
40 | MetLife, Inc. (Insurance) | 3.00 | 3/1/25 | 40 | ||||||||||||
95 | MetLife, Inc. (Insurance) | 6.50 | 12/15/32 | 124 | ||||||||||||
305 | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | 4.50 | 2/6/57 | 361 | ||||||||||||
420 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 561 | ||||||||||||
390 | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services), | 2.95 | 2/7/24 | 393 | ||||||||||||
290 | Nucor Corp. (Metals & Mining), Callable 6/15/22 @ 100.00 | 4.13 | 9/15/22 | 308 | ||||||||||||
100 | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | 5.20 | 8/1/43 | 121 | ||||||||||||
160 | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | 3.20 | 9/16/26 | 160 | ||||||||||||
20 | Oracle Corp. (Software) | 5.38 | 7/15/40 | 25 | ||||||||||||
195 | Oracle Corp. (Software) | 6.50 | 4/15/38 | 274 | ||||||||||||
95 | Philip Morris International, Inc. (Tobacco) | 4.50 | 3/20/42 | 103 | ||||||||||||
250 | PNC Bank NA (Banks), Callable 10/6/20 @ 100.00 | 2.45 | 11/5/20 | 250 | ||||||||||||
70 | PNC Financial Services Group, Inc. (Banks) | 2.85 | (d) | 11/9/22 | 70 | |||||||||||
75 | Procter & Gamble Co. (The) (Household Products) | 9.36 | 1/1/21 | 83 | ||||||||||||
125 | Progress Energy, Inc. (Electric Utilities) | 6.00 | 12/1/39 | 162 | ||||||||||||
185 | Reed Elsevier N.V. (Professional Services) | 8.63 | 1/15/19 | 196 | ||||||||||||
95 | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | 3.50 | 3/15/27 | 97 | ||||||||||||
35 | Roper Industries, Inc. (Industrial Conglomerates), Callable 8/15/22 @ 100.00 | 3.13 | 11/15/22 | 35 | ||||||||||||
190 | Roper Technologies, Inc. (Industrial Conglomerates), Callable 9/15/25 @ 100.00 | 3.85 | 12/15/25 | 197 | ||||||||||||
25 | Ryder System, Inc., MTN (Road & Rail), Callable 8/1/21 @ 100.00 | 2.25 | 9/1/21 | 25 | ||||||||||||
105 | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | 2.80 | 3/1/22 | 105 | ||||||||||||
90 | Southern California Gas Co. (Gas Utilities), Callable 6/15/24 @ 100.00 | 3.15 | 9/15/24 | 92 | ||||||||||||
60 | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | 3.00 | 11/15/26 | 58 | ||||||||||||
201 | Southwest Airlines Co. 2007-1 Trust (Airlines) | 6.15 | 8/1/22 | 219 | ||||||||||||
255 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/22 @ 100.00 | 3.45 | 1/15/23 | 253 | ||||||||||||
135 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/42 @ 100.00 | 4.95 | 1/15/43 | 127 | ||||||||||||
260 | SunTrust Banks, Inc. (Banks), Callable 2/3/21 @ 100.00 | 2.90 | 3/3/21 | 263 | ||||||||||||
240 | TC Pipelines LP (Oil, Gas & Consumable Fuels), Callable 12/13/24 @ 100.00 | 4.38 | 3/13/25 | 250 | ||||||||||||
170 | The Dow Chemical Co. (Chemicals) | 8.55 | 5/15/19 | 184 | ||||||||||||
90 | The Home Depot, Inc. (Specialty Retail) | 5.88 | 12/16/36 | 122 | ||||||||||||
185 | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | 3.13 | 6/1/24 | 187 | ||||||||||||
150 | The Travelers Companies, Inc. (Insurance) | 6.25 | 6/15/37 | 205 | ||||||||||||
175 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 2/15/23 @ 100.00 | 3.00 | 4/15/23 | 177 | ||||||||||||
140 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 11/1/23 @ 100.00 | 4.15 | 2/1/24 | 148 | ||||||||||||
105 | Toyota Motor Credit Corp., MTN (Consumer Finance) | 3.30 | 1/12/22 | 108 | ||||||||||||
115 | Twenty-First Century Fox, Inc. (Media), Callable 3/15/44 @ 100.00 | 4.75 | 9/15/44 | 131 | ||||||||||||
170 | Twenty-First Century Fox, Inc. (Media) | 6.20 | 12/15/34 | 219 | ||||||||||||
100 | United Parcel Service, Inc. (Air Freight & Logistics) | 6.20 | 1/15/38 | 138 | ||||||||||||
50 | United Technologies Corp. (Aerospace & Defense) | 4.50 | 6/1/42 | 55 | ||||||||||||
75 | UnitedHealth Group, Inc. (Health Care Providers & Services) | 6.88 | 2/15/38 | 109 | ||||||||||||
110 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 6/15/37 | 145 | ||||||||||||
40 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | 3.25 | 8/15/22 | 40 | ||||||||||||
175 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | 3.50 | 2/1/25 | 177 | ||||||||||||
105 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.01 | 8/21/54 | 107 | ||||||||||||
445 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.15 | 9/15/23 | 495 | ||||||||||||
80 | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | 4.65 | 8/15/43 | 93 | ||||||||||||
75 | Waste Management, Inc. (Commercial Services & Supplies), Callable 12/1/24 @ 100.00 | 3.13 | 3/1/25 | 76 |
See accompanying notes to financial statements.
127
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 430 | Wells Fargo & Co. (Banks) | 3.00 | 2/19/25 | $ | 426 | ||||||||||
50 | Wells Fargo & Co. (Banks) | 3.30 | 9/9/24 | 51 | ||||||||||||
275 | Wells Fargo & Co., MTN (Banks) | 4.60 | 4/1/21 | 292 | ||||||||||||
250 | WestRock Co. (Containers & Packaging) | 4.90 | 3/1/22 | 269 | ||||||||||||
55 | Westvaco Corp. (Containers & Packaging) | 8.20 | 1/15/30 | 77 | ||||||||||||
100 | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.75 | 8/1/37 | 142 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 22,080 | |||||||||||||||
|
| |||||||||||||||
U.S. Treasury Obligations — 30.36% | ||||||||||||||||
22 | U.S. Treasury Bond | 2.25 | 8/15/46 | 20 | ||||||||||||
5 | U.S. Treasury Bond | 2.50 | 2/15/45 | 5 | ||||||||||||
160 | U.S. Treasury Bond | 2.50 | 2/15/46 | 152 | ||||||||||||
135 | U.S. Treasury Bond | 2.50 | 5/15/46 | 128 | ||||||||||||
125 | U.S. Treasury Bond | 2.75 | 8/15/47 | 125 | ||||||||||||
95 | U.S. Treasury Bond | 2.75 | 11/15/47 | 95 | ||||||||||||
63 | U.S. Treasury Bond | 2.75 | 8/15/42 | 63 | ||||||||||||
74 | U.S. Treasury Bond | 2.75 | 11/15/42 | 74 | ||||||||||||
135 | U.S. Treasury Bond | 2.88 | 5/15/43 | 139 | ||||||||||||
120 | U.S. Treasury Bond | 2.88 | 8/15/45 | 123 | ||||||||||||
115 | U.S. Treasury Bond | 2.88 | 11/15/46 | 118 | ||||||||||||
100 | U.S. Treasury Bond | 3.00 | 5/15/47 | 105 | ||||||||||||
160 | U.S. Treasury Bond | 3.00 | 5/15/45 | 168 | ||||||||||||
160 | U.S. Treasury Bond | 3.00 | 2/15/47 | 168 | ||||||||||||
125 | U.S. Treasury Bond | 3.00 | 11/15/44 | 131 | ||||||||||||
24 | U.S. Treasury Bond | 3.00 | 5/15/42 | 25 | ||||||||||||
175 | U.S. Treasury Bond | 3.00 | 11/15/45 | 184 | ||||||||||||
125 | U.S. Treasury Bond | 3.13 | 8/15/44 | 134 | ||||||||||||
90 | U.S. Treasury Bond | 3.13 | 2/15/43 | 97 | ||||||||||||
70 | U.S. Treasury Bond | 3.13 | 11/15/41 | 75 | ||||||||||||
72 | U.S. Treasury Bond | 3.13 | 2/15/42 | 77 | ||||||||||||
120 | U.S. Treasury Bond | 3.38 | 5/15/44 | 135 | ||||||||||||
20 | U.S. Treasury Bond | 3.50 | 2/15/39 | 23 | ||||||||||||
130 | U.S. Treasury Bond | 3.63 | 2/15/44 | 152 | ||||||||||||
75 | U.S. Treasury Bond | 3.63 | 8/15/43 | 87 | ||||||||||||
53 | U.S. Treasury Bond | 3.75 | 8/15/41 | 63 | ||||||||||||
120 | U.S. Treasury Bond | 3.75 | 11/15/43 | 143 | ||||||||||||
55 | U.S. Treasury Bond | 3.88 | 8/15/40 | 66 | ||||||||||||
14 | U.S. Treasury Bond | 4.25 | 5/15/39 | 18 | ||||||||||||
40 | U.S. Treasury Bond | 4.25 | 11/15/40 | 51 | ||||||||||||
85 | U.S. Treasury Bond | 4.38 | 11/15/39 | 109 | ||||||||||||
35 | U.S. Treasury Bond | 4.38 | 5/15/41 | 45 | ||||||||||||
60 | U.S. Treasury Bond | 4.38 | 5/15/40 | 77 | ||||||||||||
10 | U.S. Treasury Bond | 4.38 | 2/15/38 | 13 | ||||||||||||
10 | U.S. Treasury Bond | 4.50 | 2/15/36 | 13 | ||||||||||||
20 | U.S. Treasury Bond | 4.50 | 5/15/38 | 26 | ||||||||||||
25 | U.S. Treasury Bond | 4.50 | 8/15/39 | 33 | ||||||||||||
70 | U.S. Treasury Bond | 4.63 | 2/15/40 | 93 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/41 | 95 | ||||||||||||
55 | U.S. Treasury Bond | 5.00 | 5/15/37 | 75 | ||||||||||||
30 | U.S. Treasury Bond | 5.25 | 11/15/28 | 38 | ||||||||||||
30 | U.S. Treasury Bond | 5.25 | 2/15/29 | 38 | ||||||||||||
55 | U.S. Treasury Bond | 5.38 | 2/15/31 | 73 | ||||||||||||
25 | U.S. Treasury Bond | 6.00 | 2/15/26 | 32 | ||||||||||||
25 | U.S. Treasury Bond | 6.13 | 8/15/29 | 34 | ||||||||||||
35 | U.S. Treasury Bond | 6.13 | 11/15/27 | 46 |
See accompanying notes to financial statements.
128
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 35 | U.S. Treasury Bond | 6.25 | 5/15/30 | $ | 49 | ||||||||||
15 | U.S. Treasury Bond | 6.50 | 11/15/26 | 20 | ||||||||||||
17 | U.S. Treasury Bond | 7.50 | 11/15/24 | 23 | ||||||||||||
15 | U.S. Treasury Bond | 7.63 | 2/15/25 | 20 | ||||||||||||
40 | U.S. Treasury Bond | 8.00 | 11/15/21 | 49 | ||||||||||||
70 | U.S. Treasury Note | 0.75 | 2/15/19 | 69 | ||||||||||||
65 | U.S. Treasury Note | 0.75 | 7/15/19 | 64 | ||||||||||||
45 | U.S. Treasury Note | 0.88 | 9/15/19 | 44 | ||||||||||||
85 | U.S. Treasury Note | 0.88 | 6/15/19 | 84 | ||||||||||||
45 | U.S. Treasury Note | 0.88 | 7/31/19 | 44 | ||||||||||||
70 | U.S. Treasury Note | 0.88 | 4/15/19 | 69 | ||||||||||||
110 | U.S. Treasury Note | 0.88 | 5/15/19 | 109 | ||||||||||||
70 | U.S. Treasury Note | 1.00 | 11/15/19 | 69 | ||||||||||||
35 | U.S. Treasury Note | 1.00 | 6/30/19 | 35 | ||||||||||||
67 | U.S. Treasury Note | 1.00 | 8/31/19 | 66 | ||||||||||||
70 | U.S. Treasury Note | 1.00 | 10/15/19 | 69 | ||||||||||||
95 | U.S. Treasury Note | 1.00 | 9/30/19 | 94 | ||||||||||||
65 | U.S. Treasury Note | 1.00 | 3/15/19 | 64 | ||||||||||||
70 | U.S. Treasury Note | 1.13 | 3/31/20 | 69 | ||||||||||||
150 | U.S. Treasury Note | 1.13 | 7/31/21 | 145 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 6/30/21 | 97 | ||||||||||||
80 | U.S. Treasury Note | 1.13 | 9/30/21 | 77 | ||||||||||||
60 | U.S. Treasury Note | 1.13 | 5/31/19 | 59 | ||||||||||||
65 | U.S. Treasury Note | 1.13 | 4/30/20 | 64 | ||||||||||||
120 | U.S. Treasury Note | 1.13 | 2/28/21 | 117 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 8/31/21 | 97 | ||||||||||||
110 | U.S. Treasury Note | 1.13 | 2/28/19 | 109 | ||||||||||||
80 | U.S. Treasury Note | 1.13 | 1/31/19 | 79 | ||||||||||||
65 | U.S. Treasury Note | 1.13 | 12/31/19 | 64 | ||||||||||||
105 | U.S. Treasury Note | 1.25 | 1/31/20 | 104 | ||||||||||||
105 | U.S. Treasury Note | 1.25 | 8/31/19 | 104 | ||||||||||||
100 | U.S. Treasury Note | 1.25 | 3/31/21 | 98 | ||||||||||||
140 | U.S. Treasury Note | 1.25 | 10/31/21 | 136 | ||||||||||||
110 | U.S. Treasury Note | 1.25 | 3/31/19 | 109 | ||||||||||||
105 | U.S. Treasury Note | 1.25 | 6/30/19 | 104 | ||||||||||||
90 | U.S. Treasury Note | 1.25 | 4/30/19 | 89 | ||||||||||||
105 | U.S. Treasury Note | 1.25 | 5/31/19 | 104 | ||||||||||||
95 | U.S. Treasury Note | 1.25 | 1/31/19 | 94 | ||||||||||||
55 | U.S. Treasury Note | 1.25 | 2/29/20 | 54 | ||||||||||||
50 | U.S. Treasury Note | 1.25 | 10/31/19 | 49 | ||||||||||||
95 | U.S. Treasury Note | 1.25 | 7/31/23 | 90 | ||||||||||||
110 | U.S. Treasury Note | 1.38 | 8/31/23 | 105 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 7/31/19 | 104 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 9/15/20 | 99 | ||||||||||||
75 | U.S. Treasury Note | 1.38 | 1/15/20 | 74 | ||||||||||||
70 | U.S. Treasury Note | 1.38 | 1/31/20 | 69 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 10/31/20 | 103 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 9/30/20 | 103 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 5/31/20 | 99 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 9/30/19 | 104 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 4/30/21 | 98 | ||||||||||||
75 | U.S. Treasury Note | 1.38 | 12/15/19 | 74 | ||||||||||||
120 | U.S. Treasury Note | 1.38 | 2/29/20 | 119 | ||||||||||||
115 | U.S. Treasury Note | 1.38 | 3/31/20 | 114 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 8/31/20 | 103 |
See accompanying notes to financial statements.
129
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 110 | U.S. Treasury Note | 1.38 | 4/30/20 | $ | 109 | ||||||||||
100 | U.S. Treasury Note | 1.38 | 5/31/21 | 98 | ||||||||||||
105 | U.S. Treasury Note | 1.38 | 1/31/21 | 103 | ||||||||||||
80 | U.S. Treasury Note | 1.38 | 6/30/23 | 76 | ||||||||||||
65 | U.S. Treasury Note | 1.38 | 2/28/19 | 65 | ||||||||||||
80 | U.S. Treasury Note | 1.38 | 9/30/23 | 76 | ||||||||||||
101 | U.S. Treasury Note | 1.50 | 2/28/19 | 101 | ||||||||||||
130 | U.S. Treasury Note | 1.50 | 5/31/19 | 129 | ||||||||||||
80 | U.S. Treasury Note | 1.50 | 2/28/23 | 77 | ||||||||||||
15 | U.S. Treasury Note | 1.50 | 3/31/19 | 15 | ||||||||||||
84 | U.S. Treasury Note | 1.50 | 3/31/23 | 81 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 4/15/20 | 99 | ||||||||||||
105 | U.S. Treasury Note | 1.50 | 5/31/20 | 104 | ||||||||||||
95 | U.S. Treasury Note | 1.50 | 10/31/19 | 94 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 8/15/20 | 99 | ||||||||||||
185 | U.S. Treasury Note | 1.50 | 8/15/26 | 172 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 5/15/20 | 99 | ||||||||||||
110 | U.S. Treasury Note | 1.50 | 1/31/19 | 110 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 7/15/20 | 99 | ||||||||||||
80 | U.S. Treasury Note | 1.50 | 1/31/22 | 78 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 6/15/20 | 99 | ||||||||||||
105 | U.S. Treasury Note | 1.50 | 11/30/19 | 104 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 3/31/19 | 100 | ||||||||||||
90 | U.S. Treasury Note | 1.63 | 4/30/19 | 90 | ||||||||||||
255 | U.S. Treasury Note | 1.63 | 2/15/26 | 240 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 3/15/20 | 99 | ||||||||||||
102 | U.S. Treasury Note | 1.63 | 11/15/22 | 99 | ||||||||||||
110 | U.S. Treasury Note | 1.63 | 12/31/19 | 109 | ||||||||||||
105 | U.S. Treasury Note | 1.63 | 8/31/19 | 105 | ||||||||||||
135 | U.S. Treasury Note | 1.63 | 8/31/22 | 132 | ||||||||||||
110 | U.S. Treasury Note | 1.63 | 7/31/20 | 109 | ||||||||||||
80 | U.S. Treasury Note | 1.63 | 10/15/20 | 79 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 6/30/20 | 99 | ||||||||||||
65 | U.S. Treasury Note | 1.63 | 8/15/22 | 63 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 6/30/19 | 100 | ||||||||||||
80 | U.S. Treasury Note | 1.63 | 4/30/23 | 78 | ||||||||||||
185 | U.S. Treasury Note | 1.63 | 5/15/26 | 174 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 10/31/23 | 97 | ||||||||||||
80 | U.S. Treasury Note | 1.63 | 5/31/23 | 77 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 11/30/20 | 99 | ||||||||||||
100 | U.S. Treasury Note | 1.75 | 11/15/20 | 99 | ||||||||||||
110 | U.S. Treasury Note | 1.75 | 9/30/22 | 108 | ||||||||||||
140 | U.S. Treasury Note | 1.75 | 6/30/22 | 137 | ||||||||||||
115 | U.S. Treasury Note | 1.75 | 4/30/22 | 113 | ||||||||||||
85 | U.S. Treasury Note | 1.75 | 3/31/22 | 84 | ||||||||||||
105 | U.S. Treasury Note | 1.75 | 9/30/19 | 105 | ||||||||||||
164 | U.S. Treasury Note | 1.75 | 5/15/23 | 160 | ||||||||||||
105 | U.S. Treasury Note | 1.75 | 11/30/19 | 105 | ||||||||||||
140 | U.S. Treasury Note | 1.75 | 5/31/22 | 138 | ||||||||||||
80 | U.S. Treasury Note | 1.75 | 1/31/23 | 78 | ||||||||||||
85 | U.S. Treasury Note | 1.75 | 2/28/22 | 84 | ||||||||||||
145 | U.S. Treasury Note | 1.75 | 10/31/20 | 144 | ||||||||||||
130 | U.S. Treasury Note | 1.75 | 11/30/21 | 128 | ||||||||||||
105 | U.S. Treasury Note | 1.75 | 12/31/20 | 104 | ||||||||||||
90 | U.S. Treasury Note | 1.75 | 5/15/22 | 89 |
See accompanying notes to financial statements.
130
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 90 | U.S. Treasury Note | 1.88 | 9/30/22 | $ | 89 | ||||||||||
85 | U.S. Treasury Note | 1.88 | 5/31/22 | 84 | ||||||||||||
125 | U.S. Treasury Note | 1.88 | 4/30/22 | 123 | ||||||||||||
125 | U.S. Treasury Note | 1.88 | 10/31/22 | 123 | ||||||||||||
85 | U.S. Treasury Note | 1.88 | 8/31/22 | 84 | ||||||||||||
110 | U.S. Treasury Note | 1.88 | 11/30/21 | 109 | ||||||||||||
145 | U.S. Treasury Note | 1.88 | 2/28/22 | 143 | ||||||||||||
100 | U.S. Treasury Note | 1.88 | 3/31/22 | 99 | ||||||||||||
75 | U.S. Treasury Note | 1.88 | 12/31/19 | 75 | ||||||||||||
70 | U.S. Treasury Note | 1.88 | 12/15/20 | 70 | ||||||||||||
105 | U.S. Treasury Note | 1.88 | 1/31/22 | 104 | ||||||||||||
105 | U.S. Treasury Note | 1.88 | 6/30/20 | 105 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 2/28/21 | 100 | ||||||||||||
170 | U.S. Treasury Note | 2.00 | 2/15/23 | 168 | ||||||||||||
60 | U.S. Treasury Note | 2.00 | 11/30/20 | 60 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 2/15/22 | 100 | ||||||||||||
145 | U.S. Treasury Note | 2.00 | 11/15/21 | 145 | ||||||||||||
65 | U.S. Treasury Note | 2.00 | 9/30/20 | 65 | ||||||||||||
50 | U.S. Treasury Note | 2.00 | 7/31/20 | 50 | ||||||||||||
195 | U.S. Treasury Note | 2.00 | 8/15/25 | 190 | ||||||||||||
195 | U.S. Treasury Note | 2.00 | 2/15/25 | 191 | ||||||||||||
185 | U.S. Treasury Note | 2.00 | 11/15/26 | 179 | ||||||||||||
235 | U.S. Treasury Note | 2.00 | 5/31/24 | 230 | ||||||||||||
70 | U.S. Treasury Note | 2.00 | 4/30/24 | 69 | ||||||||||||
110 | U.S. Treasury Note | 2.00 | 12/31/21 | 109 | ||||||||||||
70 | U.S. Treasury Note | 2.00 | 10/31/21 | 70 | ||||||||||||
80 | U.S. Treasury Note | 2.00 | 8/31/21 | 80 | ||||||||||||
150 | U.S. Treasury Note | 2.00 | 6/30/24 | 147 | ||||||||||||
95 | U.S. Treasury Note | 2.00 | 7/31/22 | 94 | ||||||||||||
200 | U.S. Treasury Note | 2.00 | 11/30/22 | 198 | ||||||||||||
90 | U.S. Treasury Note | 2.13 | 6/30/22 | 90 | ||||||||||||
120 | U.S. Treasury Note | 2.13 | 8/15/21 | 120 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 2/29/24 | 114 | ||||||||||||
105 | U.S. Treasury Note | 2.13 | 12/31/21 | 105 | ||||||||||||
90 | U.S. Treasury Note | 2.13 | 11/30/23 | 89 | ||||||||||||
65 | U.S. Treasury Note | 2.13 | 9/30/21 | 65 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 7/31/24 | 114 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 11/30/24 | 113 | ||||||||||||
85 | U.S. Treasury Note | 2.13 | 3/31/24 | 84 | ||||||||||||
135 | U.S. Treasury Note | 2.13 | 1/31/21 | 135 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 9/30/24 | 114 | ||||||||||||
80 | U.S. Treasury Note | 2.13 | 8/31/20 | 80 | ||||||||||||
195 | U.S. Treasury Note | 2.13 | 5/15/25 | 192 | ||||||||||||
90 | U.S. Treasury Note | 2.13 | 12/31/22 | 90 | ||||||||||||
70 | U.S. Treasury Note | 2.13 | 6/30/21 | 70 | ||||||||||||
195 | U.S. Treasury Note | 2.25 | 11/15/25 | 193 | ||||||||||||
195 | U.S. Treasury Note | 2.25 | 11/15/24 | 194 | ||||||||||||
185 | U.S. Treasury Note | 2.25 | 8/15/27 | 182 | ||||||||||||
90 | U.S. Treasury Note | 2.25 | 1/31/24 | 90 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 12/31/24 | 80 | ||||||||||||
225 | U.S. Treasury Note | 2.25 | 2/15/27 | 221 | ||||||||||||
115 | U.S. Treasury Note | 2.25 | 10/31/24 | 114 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 4/30/21 | 81 | ||||||||||||
40 | U.S. Treasury Note | 2.25 | 7/31/21 | 40 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 3/31/21 | 81 |
See accompanying notes to financial statements.
131
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 85 | U.S. Treasury Note | 2.25 | 11/15/27 | $ | 84 | ||||||||||
80 | U.S. Treasury Note | 2.25 | 12/31/23 | 80 | ||||||||||||
105 | U.S. Treasury Note | 2.38 | 8/15/24 | 105 | ||||||||||||
80 | U.S. Treasury Note | 2.38 | 5/15/27 | 80 | ||||||||||||
205 | U.S. Treasury Note | 2.50 | 5/15/24 | 206 | ||||||||||||
127 | U.S. Treasury Note | 2.50 | 8/15/23 | 129 | ||||||||||||
100 | U.S. Treasury Note | 2.63 | 11/15/20 | 102 | ||||||||||||
160 | U.S. Treasury Note | 2.63 | 8/15/20 | 163 | ||||||||||||
170 | U.S. Treasury Note | 2.75 | 11/15/23 | 175 | ||||||||||||
85 | U.S. Treasury Note | 2.75 | 2/15/19 | 86 | ||||||||||||
100 | U.S. Treasury Note | 3.13 | 5/15/19 | 102 | ||||||||||||
50 | U.S. Treasury Note | 3.38 | 11/15/19 | 51 | ||||||||||||
100 | U.S. Treasury Note | 3.50 | 5/15/20 | 104 | ||||||||||||
80 | U.S. Treasury Note | 3.63 | 8/15/19 | 82 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 21,870 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 5.33% | ||||||||||||||||
85 | America Movil SAB de CV (Wireless Telecommunication Services) | 6.13 | 11/15/37 | 107 | ||||||||||||
25 | Bank of Nova Scotia (Banks) | 1.85 | 4/14/20 | 25 | ||||||||||||
200 | Barclays PLC (Banks) | 3.20 | 8/10/21 | 200 | ||||||||||||
45 | BHP Billiton Ltd. (Metals & Mining) | 5.00 | 9/30/43 | 55 | ||||||||||||
255 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 3.54 | 11/4/24 | 265 | ||||||||||||
124 | British Telecommunications PLC (Diversified Telecommunication Services) | 9.13 | 12/15/30 | 185 | ||||||||||||
205 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 12/15/22 @ 100.00 | 2.95 | 1/15/23 | 204 | ||||||||||||
90 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 8/15/21 @ 100.00 | 3.45 | 11/15/21 | 92 | ||||||||||||
270 | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | 4.45 | 3/15/23 | 288 | ||||||||||||
90 | Deutsche Telekom International Finance BV (Diversified Financial Services) | 8.75 | (d) | 6/15/30 | 133 | |||||||||||
90 | HSBC Holdings PLC (Banks) | 4.00 | 3/30/22 | 94 | ||||||||||||
120 | HSBC Holdings PLC (Banks) | 6.80 | 6/1/38 | 164 | ||||||||||||
105 | Iberdrola International BV (Electric Utilities) | 5.81 | 3/15/25 | 121 | ||||||||||||
145 | Iberdrola International BV (Electric Utilities) | 6.75 | 7/15/36 | 191 | ||||||||||||
50 | LyondellBasell Industries N.V. (Chemicals) | 4.00 | 7/15/23 | 52 | ||||||||||||
10 | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | 4.63 | 2/26/55 | 11 | ||||||||||||
341 | LyondellBasell Industries N.V. (Chemicals), Callable 1/15/19 @ 100.00 | 5.00 | 4/15/19 | 351 | ||||||||||||
95 | Orange SA (Diversified Telecommunication Services) | 9.00 | 3/1/31 | 142 | ||||||||||||
25 | Royal Bank of Canada (Banks) | 2.20 | 9/23/19 | 25 | ||||||||||||
240 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 6.38 | 12/15/38 | 334 | ||||||||||||
40 | Statoil ASA (Oil, Gas & Consumable Fuels) | 3.25 | 11/10/24 | 41 | ||||||||||||
100 | Statoil ASA (Oil, Gas & Consumable Fuels) | 5.10 | 8/17/40 | 120 | ||||||||||||
180 | Statoil ASA (Oil, Gas & Consumable Fuels) | 7.75 | 6/15/23 | 224 | ||||||||||||
90 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 7.05 | 6/20/36 | 121 | ||||||||||||
120 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 157 | ||||||||||||
20 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.20 | 10/15/37 | 26 | ||||||||||||
90 | Vodafone Group PLC (Wireless Telecommunication Services) | 6.15 | 2/27/37 | 113 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 3,841 | |||||||||||||||
|
| |||||||||||||||
Time Deposit — 12.54% | ||||||||||||||||
9,030 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.39 | 1/2/18 | 9,030 | ||||||||||||
|
| |||||||||||||||
Total Time Deposit | 9,030 | |||||||||||||||
|
|
See accompanying notes to financial statements.
132
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Shares | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Mutual Funds — 26.25% | ||||||||||||||||
9,410,661 | SSgA U.S. Government Money Market Fund | 1.16 | (e) | $ | 9,411 | |||||||||||
9,495,730 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (e) | 9,495 | ||||||||||||
|
| |||||||||||||||
Total Mutual Funds | 18,906 | |||||||||||||||
|
| |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $92,856) — 129.83% | 93,508 | |||||||||||||||
Principal Amount (000) | ||||||||||||||||
TBA Sale Commitments (f) — (0.58)% | ||||||||||||||||
$ | (40 | ) | Fannie Mae, 15 YR TBA | 4.50 | 1/25/33 | (41 | ) | |||||||||
(25 | ) | Fannie Mae, 30 YR TBA | 5.00 | 2/25/47 | (27 | ) | ||||||||||
(50 | ) | Freddie Mac, Gold 15 YR TBA | 4.50 | 1/15/33 | (51 | ) | ||||||||||
(75 | ) | Freddie Mac, Gold 30 YR TBA | 5.00 | 1/15/48 | (80 | ) | ||||||||||
(100 | ) | Freddie Mac, Gold 30 YR TBA | 5.50 | 1/15/48 | (109 | ) | ||||||||||
(25 | ) | Government National Mortgage Association, 30 YR TBA | 5.50 | 1/15/48 | (27 | ) | ||||||||||
(75 | ) | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/15/48 | (79 | ) | ||||||||||
|
| |||||||||||||||
Total TBA Sale Commitments | (414 | ) | ||||||||||||||
|
| |||||||||||||||
Liabilities in excess of other assets — (29.25)% | (21,068 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 72,026 | ||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2017. |
(b) | Zero Coupon Security. Effective rate shown is as of December 31, 2017. |
(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, 2017. |
(e) | The rate disclosed is the rate in effect on December 31, 2017. |
(f) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Financial Statements.) |
MTN — Medium Term Note
TBA — To Be Announced purchase or sale commitment. Security is subject to delayed delivery
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Core Fixed Income Portfolio | Agincourt Capital Management, LLC | Mellon Capital Management Corporation | HC Capital Solutions | Total | ||||||||||||
Asset Backed Securities | — | 0.30 | % | — | 0.30 | % | ||||||||||
Collateralized Mortgage Obligations | — | 1.38 | % | — | 1.38 | % | ||||||||||
U.S. Government Agency Mortgages | — | 21.60 | % | — | 21.60 | % | ||||||||||
U.S. Government Agency Securities | — | 1.41 | % | — | 1.41 | % | ||||||||||
Corporate Bonds | 30.68 | % | — | — | 30.68 | % | ||||||||||
U.S. Treasury Obligations | — | 30.36 | % | — | 30.36 | % | ||||||||||
Yankee Dollars | 5.26 | % | 0.07 | % | — | 5.33 | % | |||||||||
Time Deposit | — | 12.54 | % | — | 12.54 | % | ||||||||||
Mutual Funds | 13.07 | % | 6.22 | % | 6.96 | % | 26.25 | % | ||||||||
TBA Sale Commitments | — | -0.58 | % | — | -0.58 | % | ||||||||||
Other Assets (Liabilities) | -11.70 | % | -17.56 | % | -0.01 | % | -29.27 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 37.31 | % | 55.74 | % | 6.95 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
133
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Collateralized Mortgage Obligations — 17.43% | ||||||||||||||||
$ | 2,070 | BAMLL Commercial Mortgage Securities Trust, Series 2014-FL1, Class E (a) | 2.70 | (b) | 12/15/31 | $ | 1,968 | |||||||||
5,687 | Bank of America Merrill Lynch Large, Series 2016-GG10, Class AJA (a) | 5.81 | (b) | 8/10/45 | 4,412 | |||||||||||
3,000 | BX Trust, Series 2017-IMC, Class G (a) | 6.75 | (b) | 10/15/32 | 3,007 | |||||||||||
4,000 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class E (a) | 3.00 | 2/10/48 | 2,323 | ||||||||||||
1,500 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class E (a) | 3.21 | (b) | 7/10/47 | 976 | |||||||||||
2,700 | Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class E (a) | 4.15 | (b) | 4/10/48 | 1,676 | |||||||||||
1,300 | Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class F (a) | 4.15 | (b) | 4/10/48 | 791 | |||||||||||
6,000 | Commercial Mortgage Trust, Series 2014-CR21, Class F (a) | 3.00 | 12/10/47 | 3,851 | ||||||||||||
3,409 | Commercial Mortgage Trust, Series 2015-CR24, Class E (a) | 3.13 | (b) | 8/10/48 | 2,080 | |||||||||||
5,500 | Commercial Mortgage Trust, Series 2015-LC21, Class E (a) | 3.25 | 7/10/48 | 3,236 | ||||||||||||
1,100 | Commercial Mortgage Trust, Series 2014-LC17, Class D (a) | 3.69 | 10/10/47 | 802 | ||||||||||||
2,900 | Commercial Mortgage Trust, Series 2013-CR7, Class G (a) | 4.28 | (b) | 3/10/46 | 1,473 | |||||||||||
4,000 | Commercial Mortgage Trust, Series 2015-CR25, Class E (a) | 4.55 | (b) | 8/10/48 | 2,674 | |||||||||||
1,800 | Commercial Mortgage Trust, Series 2015-CR25, Class F (a) | 4.55 | (b) | 8/10/48 | 887 | |||||||||||
420 | Commercial Mortgage Trust, Series 2013-CR12, Class E (a) | 5.08 | (b) | 10/10/46 | 324 | |||||||||||
1,410 | Connecticut Avenue Securities, Series 2016-C03, Class 1B, | | 13.30 (US0001M + 1175.00 bps) | (c) | 10/25/28 | 2,055 | ||||||||||
6,336 | Connecticut Avenue Securities, Series 2016-C02, Class 1B, | | 13.80 (US0001M + 1225.00 bps) | (c) | 9/25/28 | 9,414 | ||||||||||
1,712 | Credit Suisse Mortgage Trust, Series 17-RPL1, Class B2, | 3.09 | (b) | 7/25/57 | 957 | |||||||||||
1,492 | Credit Suisse Mortgage Trust, Series 17-RPL1, Class B1, | 3.09 | (b) | 7/25/57 | 1,066 | |||||||||||
1,675 | Credit Suisse Mortgage Trust, Series 17-RPL1, Class B4, | 3.09 | (b) | 7/25/57 | 341 | |||||||||||
1,455 | Credit Suisse Mortgage Trust, Series 17-RPL1, Class B3, | 3.09 | (b) | 7/25/57 | 639 | |||||||||||
1,983 | Credit Suisse Mortgage Trust, Series 2007-C5, Class AM | 5.87 | 9/15/40 | 1,924 | ||||||||||||
3,975 | Credit Suisse Mortgage Trust, Series 2015-LHMZ, Class MZ (a) | 8.93 | (b) | 7/6/20 | 3,980 | |||||||||||
1,500 | Credit Suisse Mortgage Trust, Series 2017-CHOP, Class H (a) | | 9.10 (LIBOR01M + 762.00 bps) | (c) | 7/15/32 | 1,493 | ||||||||||
2,500 | CSAIL Commercial Mortgage Trust, Series 2016-C7, Class D (a) | 4.39 | (b) | 11/15/49 | 1,921 | |||||||||||
2,100 | DBUBS Mortgage Trust, Series 2011-LC3A, Class G (a) | 3.75 | 8/10/44 | 1,145 | ||||||||||||
2,500 | GE Commercial Mortgage Corp. Trust, Series 2007-C1, Class AJ | 5.68 | (b) | 12/10/49 | 1,276 | |||||||||||
600 | Goldman Sachs Mortgage Securities Trust, Series 2013-GC14, Class F (a) | 4.76 | (b) | 8/10/46 | 464 | |||||||||||
700 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C23, Class E, | 3.36 | (b) | 9/15/47 | 433 | |||||||||||
4,300 | JPMBB Commercial Mortgage Securities Trust, Series 2015-C31, Class E (a) | 4.62 | (b) | 8/15/48 | 2,727 | |||||||||||
6,860 | JPMorgan Chase Commercial Mortgage Securities Corp., | 5.50 | (b) | 1/15/49 | 1,575 | |||||||||||
3,000 | JPMorgan Chase Commercial Mortgage Securities Corp., | 5.80 | (b) | 2/12/49 | 2,232 | |||||||||||
4,010 | Lone Star Portfolio Trust, Series 2015-LSP, Class F (a) | | 8.38 (LIBOR01M + 690.00 bps) | (c) | 9/15/28 | 4,075 | ||||||||||
1,110 | Morgan Stanley BAML Trust, Series 2015-C21, Class E (a) | 3.01 | 3/15/48 | 715 | ||||||||||||
1,800 | Morgan Stanley BAML Trust, Series 2015-C25, Class F, | | 4.53 (US0003M + 125.00 bps) | (c) | 10/15/48 | 1,036 | ||||||||||
4,000 | Morgan Stanley BAML Trust, Series 2015-C25, Class E, | | 4.53 (US0003M + 112.00 bps) | (c) | 10/15/48 | 2,804 | ||||||||||
2,747 | Multifamily Trust, Series 2016-1, Class B (a) | | 9.54 (US0003M + 113.00 bps) | (c) | 4/25/46 | 2,863 | ||||||||||
155,260 | Seasoned Credit Risk Transfer, Series 16-1, Class XSIO, | 0.07 | (b) | 9/25/55 | 579 | |||||||||||
19,325 | Seasoned Credit Risk Transfer, Series 16-1, Class BIO, | 0.92 | (b) | 9/25/55 | 2,265 | |||||||||||
8,198 | Seasoned Credit Risk Transfer, Series 16-1, Class B, | 6.68 | 9/25/55 | 665 |
See accompanying notes to financial statements.
134
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$ | 14,983 | Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class B, | | 10.68 (US0001M + 935.00 bps) | (c) | 4/25/28 | $ | 19,829 | ||||||||
4,498 | Structured Agency Credit Risk Debt Notes, Series 2016-DNA1, Class B, | | 11.33 (US0001M + 1000.00 bps) | (c) | 7/25/28 | 6,144 | ||||||||||
4,726 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class G (a) | 4.89 | (b) | 5/10/63 | 3,314 | |||||||||||
8,192 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class H (a) | 4.89 | (b) | 5/10/63 | 4,073 | |||||||||||
4,800 | Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class E (a) | 3.00 | 5/15/48 | 2,762 | ||||||||||||
510 | Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class E (a) | 3.50 | 7/15/46 | 336 | ||||||||||||
4,000 | Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class E, | 4.61 | (b) | 11/15/48 | 2,807 | |||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 118,389 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Mortgages — 3.19% | ||||||||||||||||
1,140 | Fannie Mae, Series 17-C05, Class 1B1, Callable 7/25/27 @ 100.00 (a) | | 4.93 (US0001M + 360.00 bps) | (c) | 1/25/30 | 1,136 | ||||||||||
5,550 | Fannie Mae, Series 17-C07, Class 1B1, Callable 11/25/27 @ 100.00 (a) | 5.55 | (b) | 5/25/30 | 5,701 | |||||||||||
530 | Fannie Mae, Series: 17-C03, Class 1B1, Callable 4/25/27 @ 100.00 (a) | | 6.18 (US0001M + 485.00 bps) | (c) | 10/25/29 | 579 | ||||||||||
1,500 | Fannie Mae, Series 16-C06, Class 1B, Callable 10/25/26 @ 100.00 (a) | | 10.80 (US0001M + 925.00 bps) | (c) | 4/25/29 | 1,913 | ||||||||||
3,499 | Fannie Mae, Series 16-C04, Class 1B, Callable 7/25/26 @ 100.00 (a) | | 11.80 (US0001M + 1025.00 bps) | (c) | 1/25/29 | 4,754 | ||||||||||
5,997 | Freddie Mac, Series 17-2, Class B, Callable 3/25/48 @ 100.00 (a) | – | (b) | 8/25/56 | 525 | |||||||||||
269,838 | Freddie Mac, Series 17-2, Class XSIO, Callable 3/25/48 @ 100.00 (a) | 0.07 | (b) | 8/25/56 | 1,033 | |||||||||||
8,997 | Freddie Mac, Series 17-2, Class BIO, Callable 3/25/48 @ 100.00 (a) | 1.01 | (b) | 8/25/56 | 1,251 | |||||||||||
530 | Freddie Mac, Series 17-DNA1, Class B2, Callable 1/25/27 @ 100.00 | | 11.55 (US0001M + 1000.00 bps) | (c) | 7/25/29 | 503 | ||||||||||
1,090 | Freddie Mac Structured Agency Credit Risk Debt Notes, | | 6.48 (US0001M + 515.00 bps) | (c) | 10/25/29 | 1,214 | ||||||||||
3,070 | Freddie Mac Structured Agency Credit Risk Debt Notes, | | 12.58 (US0001M + 1125.00 bps) | (c) | 10/25/29 | 3,075 | ||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 21,684 | |||||||||||||||
|
| |||||||||||||||
Corporate Bonds — 54.33% | ||||||||||||||||
1,175 | Acadia Healthcare Co., Inc. (Health Care Providers & Services), | 5.13 | 7/1/22 | 1,178 | ||||||||||||
946 | Acadia Healthcare Co., Inc. (Health Care Providers & Services), | 6.50 | 3/1/24 | 984 | ||||||||||||
709 | ACCO Brands Corp. (Commercial Services & Supplies), | 5.25 | 12/15/24 | 728 | ||||||||||||
1,765 | AES Corp. (Independent Power & Renewable Electricity Producers), | 4.88 | 5/15/23 | 1,798 | ||||||||||||
2,335 | Albertsons Cos. LLC (Food & Staples Retailing), Callable 9/15/19 @ 104.31 | 5.75 | 3/15/25 | 2,107 | ||||||||||||
987 | Alcoa, Inc. (Aerospace & Defense), Callable 7/1/24 @ 100.00 | 5.13 | 10/1/24 | 1,053 | ||||||||||||
282 | Alcoa, Inc. (Aerospace & Defense) | 5.87 | 2/23/22 | 305 | ||||||||||||
111 | Ally Financial, Inc. (Consumer Finance), Callable 10/20/25 @ 100.00 | 5.75 | 11/20/25 | 121 | ||||||||||||
192 | Ally Financial, Inc. (Consumer Finance) | 7.50 | 9/15/20 | 213 | ||||||||||||
2,029 | Ally Financial, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 2,633 | ||||||||||||
968 | Altice US Finance I Corp. (Media), Callable 7/15/18 @ 104.03 (a) | 5.38 | 7/15/23 | 992 | ||||||||||||
1,141 | Altice US Finance I Corp. (Media), Callable 5/15/21 @ 102.75 (a) | 5.50 | 5/15/26 | 1,162 | ||||||||||||
1,312 | AMC Entertainment Holdings, Inc. (Media), Callable 11/15/21 @ 102.94^ | 5.88 | 11/15/26 | 1,296 | ||||||||||||
509 | AMC Networks, Inc. (Media), Callable 8/1/21 @ 102.38 | 4.75 | 8/1/25 | 505 | ||||||||||||
785 | AMC Networks, Inc. (Media), Callable 4/1/20 @ 102.50 | 5.00 | 4/1/24 | 795 | ||||||||||||
664 | American Airlines Pass-Through Trust, Series 2013-2, Class B (Airlines) | 5.60 | 7/15/20 | 686 | ||||||||||||
634 | American Airlines Pass-Through Trust, Class B (Airlines) | 5.63 | 1/15/21 | 660 | ||||||||||||
478 | American Builders & Contractors Supply Co., Inc. (Trading Companies & Distributors), Callable 12/15/18 @ 104.31 (a) | 5.75 | 12/15/23 | 503 | ||||||||||||
2,211 | Amsted Industries, Inc. (Machinery), Callable 3/15/18 @ 102.50 (a) | 5.00 | 3/15/22 | 2,264 |
See accompanying notes to financial statements.
135
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 285 | Amsted Industries, Inc. (Machinery), Callable 9/15/19 @ 102.69 | 5.38 | 9/15/24 | $ | 296 | ||||||||||
727 | Anixter International, Inc. (Electronic Equipment, Instruments & Components) | 5.13 | 10/1/21 | 765 | ||||||||||||
728 | Ashtead Capital, Inc. (Trading Companies & Distributors), | 4.13 | 8/15/25 | 735 | ||||||||||||
1,054 | Ashtead Capital, Inc. (Trading Companies & Distributors), | 4.38 | 8/15/27 | 1,070 | ||||||||||||
1,099 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (Road & Rail), | 5.13 | 6/1/22 | 1,113 | ||||||||||||
1,156 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (Road & Rail), | 5.50 | 4/1/23 | 1,185 | ||||||||||||
1,326 | B&G Foods, Inc. (Food Products), Callable 4/1/20 @ 103.94 | 5.25 | 4/1/25 | 1,349 | ||||||||||||
1,951 | Bank of America Corp. (Banks), Callable 3/17/25 @ 100.00, Perpetual Bond (d) | | 6.10 (US0003M + 389.80 bps) | (c) | 12/29/49 | 2,141 | ||||||||||
1,632 | Beacon Escrow Corp. (Trading Companies & Distributors), | 4.88 | 11/1/25 | 1,639 | ||||||||||||
1,682 | Belo Corp. (Media) | 7.25 | 9/15/27 | 1,875 | ||||||||||||
578 | Block Communications, Inc. (Media), Callable 2/15/20 @ 103.44 (a) | 6.88 | 2/15/25 | 605 | ||||||||||||
1,421 | Blue Cube Spinco, Inc. (Chemicals), Callable 10/15/20 @ 102.44 | 9.75 | 10/15/23 | 1,677 | ||||||||||||
2,115 | Blue Racer Mid LLC/Blue Racer Mid Finance (Oil, Gas & Consumable Fuels), | 6.13 | 11/15/22 | 2,200 | ||||||||||||
1,333 | Booz Allen Hamilton, Inc. (IT Services), Callable 5/1/20 @ 102.56 (a) | 5.13 | 5/1/25 | 1,336 | ||||||||||||
1,126 | Brinker International, Inc. (Hotels, Restaurants & Leisure) | 3.88 | 5/15/23 | 1,092 | ||||||||||||
1,110 | Brinker International, Inc. (Hotels, Restaurants & Leisure), | 5.00 | 10/1/24 | 1,121 | ||||||||||||
861 | Building Materials Corp. of America (Building Products), | 5.38 | 11/15/24 | 900 | ||||||||||||
1,268 | Building Materials Corp. of America (Building Products), | 6.00 | 10/15/25 | 1,354 | ||||||||||||
565 | Cable One, Inc. (Media), Callable 6/15/18 @ 102.88 (a) | 5.75 | 6/15/22 | 583 | ||||||||||||
3,756 | Cablevision Systems Corp. (Media) | 5.88 | 9/15/22 | 3,701 | ||||||||||||
190 | CalAtlantic Group, Inc. (Household Durables), Callable 5/15/24 @ 100.00 | 5.88 | 11/15/24 | 211 | ||||||||||||
1,341 | Calpine Corp. (Independent Power & Renewable Electricity Producers), | 5.38 | 1/15/23 | 1,306 | ||||||||||||
1,875 | Cardtronics, Inc. (IT Services), Callable 2/5/18 @ 103.84 | 5.13 | 8/1/22 | 1,781 | ||||||||||||
572 | Cardtronics, Inc. (IT Services), Callable 5/1/20 @ 104.13 (a) | 5.50 | 5/1/25 | 516 | ||||||||||||
3,161 | Care Capital Properties WI (Equity Real Estate Investment Trusts), | 5.13 | 8/15/26 | 3,204 | ||||||||||||
1,784 | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), | 6.25 | 4/15/23 | 1,851 | ||||||||||||
1,041 | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 7/15/20 @ 106.19 | 8.25 | 7/15/25 | 1,144 | ||||||||||||
2,281 | CCO Holdings LLC/Capital Corp. (Media), Callable 5/1/22 @ 102.56 (a) | 5.13 | 5/1/27 | 2,247 | ||||||||||||
970 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), | 5.13 | 5/1/23 | 989 | ||||||||||||
1,010 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), | 5.75 | 2/15/26 | 1,049 | ||||||||||||
777 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), | 5.75 | 1/15/24 | 800 | ||||||||||||
298 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), | 5.88 | 4/1/24 | 311 | ||||||||||||
1,238 | CDK Global, Inc. (Software), Callable 6/1/22 @ 102.44 (a) | 4.88 | 6/1/27 | 1,254 | ||||||||||||
582 | CDW LLC/CDW Finance (Electronic Equipment, Instruments & Components), | 5.00 | 9/1/23 | 602 | ||||||||||||
1,605 | CDW LLC/CDW Finance (Electronic Equipment, Instruments & Components), | 5.50 | 12/1/24 | 1,745 | ||||||||||||
385 | Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. (Hotels, Restaurants & Leisure), Callable 4/15/22 @ 102.69 (a) | 5.38 | 4/15/27 | 404 | ||||||||||||
1,858 | Centene Corp. (Health Care Providers & Services), Callable 1/15/20 @ 103.56 | 4.75 | 1/15/25 | 1,891 | ||||||||||||
565 | Central Garden & Pet Co. (Household Products), Callable 1/1/23 @ 102.56 | 5.13 | 2/1/28 | 565 |
See accompanying notes to financial statements.
136
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,282 | Century Communities, Inc. (Household Durables), Callable 7/15/20 @ 104.41^ | 5.88 | 7/15/25 | $ | 1,288 | ||||||||||
1,119 | CenturyLink, Inc. (Diversified Telecommunication Services), | 5.63 | 4/1/25 | 1,018 | ||||||||||||
3,239 | CenturyLink, Inc., Series T (Diversified Telecommunication Services) | 5.80 | 3/15/22 | 3,173 | ||||||||||||
189 | CenturyLink, Inc. (Diversified Telecommunication Services) | 6.45 | 6/15/21 | 191 | ||||||||||||
1,079 | CenturyLink, Inc., Series G (Diversified Telecommunication Services) | 6.88 | 1/15/28 | 976 | ||||||||||||
1,068 | CF Industries, Inc. (Chemicals) (a) | 4.50 | 12/1/26 | 1,113 | ||||||||||||
2,299 | Cheniere Corp. Christi HD (Oil, Gas & Consumable Fuels), | 5.88 | 3/31/25 | 2,492 | ||||||||||||
300 | Cheniere Corp. Christi HD (Oil, Gas & Consumable Fuels), | 7.00 | 6/30/24 | 341 | ||||||||||||
2,466 | CHS/Community Health Systems, Inc. (Health Care Providers & Services), | 6.25 | 3/31/23 | 2,219 | ||||||||||||
1,995 | Citigroup, Inc. (Banks), Callable 11/15/20 @ 100.00 | | 6.13 (US0003M + 447.80 bps) | (c) | 12/29/49 | 2,122 | ||||||||||
1,096 | Commercial Metals Co. (Metals & Mining), Callable 2/15/23 @ 100.00 | 4.88 | 5/15/23 | 1,121 | ||||||||||||
546 | Commercial Metals Co. (Metals & Mining), Callable 7/15/22 @ 102.69 | 5.38 | 7/15/27 | 557 | ||||||||||||
1,268 | Commscope Tech LLC (Communications Equipment), | 5.00 | 3/15/27 | 1,268 | ||||||||||||
350 | CommScope, Inc. (Communications Equipment), Callable 6/15/19 @ 102.75 (a) | 5.50 | 6/15/24 | 364 | ||||||||||||
725 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels), | 4.50 | 4/15/23 | 740 | ||||||||||||
1,564 | CoreCivic, Inc. (Equity Real Estate Investment Trusts), | 4.75 | 10/15/27 | 1,544 | ||||||||||||
278 | Corrections Corp. of America (Equity Real Estate Investment Trusts), | 4.13 | 4/1/20 | 282 | ||||||||||||
261 | Corrections Corp. of America (Equity Real Estate Investment Trusts), | 4.63 | 5/1/23 | 267 | ||||||||||||
659 | Corrections Corp. of America (Equity Real Estate Investment Trusts), | 5.00 | 10/15/22 | 689 | ||||||||||||
1,589 | Cott Beverages, Inc. (Beverages), Callable 1/30/18 @ 104.03 | 5.38 | 7/1/22 | 1,653 | ||||||||||||
45 | Credit Acceptance Corp. (Consumer Finance), Callable 2/5/18 @ 103.06 | 6.13 | 2/15/21 | 45 | ||||||||||||
1,705 | Credit Acceptance Corp. (Consumer Finance), Callable 3/15/18 @ 105.53 | 7.38 | 3/15/23 | 1,786 | ||||||||||||
1,422 | CrownRock, LP/CrownRock Finance, Inc. (Oil, Gas & Consumable Fuels), | 5.63 | 10/15/25 | 1,429 | ||||||||||||
1,312 | CSC Holdings LLC (Media) | 5.25 | 6/1/24 | 1,286 | ||||||||||||
517 | Cumberland Farms, Inc. (Food & Staples Retailing), Callable 5/1/20 @ 105.06 (a) | 6.75 | 5/1/25 | 548 | ||||||||||||
1,603 | CVR Partners/CVR Nitrogen (Chemicals), Callable 6/15/19 @ 104.63 (a) | 9.25 | 6/15/23 | 1,724 | ||||||||||||
1,499 | Cyrusone, LP/Cyrusone Finance (Equity Real Estate Investment Trusts), | 5.00 | 3/15/24 | 1,555 | ||||||||||||
477 | Cyrusone, LP/Cyrusone Finance (Equity Real Estate Investment Trusts), | 5.38 | 3/15/27 | 501 | ||||||||||||
1,338 | Delek Logistics Partners, LP (Oil, Gas & Consumable Fuels), | 6.75 | 5/15/25 | 1,351 | ||||||||||||
309 | Diamond 1 Finance/Diamond 2 (Technology Hardware, Storage & Peripherals), | 5.88 | 6/15/21 | 321 | ||||||||||||
2,465 | Diamond 1 Finance/Diamond 2 (Technology Hardware, Storage & Peripherals), | 7.13 | 6/15/24 | 2,698 | ||||||||||||
1,912 | Diebold Nixdorf, Inc. (Technology Hardware, Storage & Peripherals), | 8.50 | 4/15/24 | 2,032 | ||||||||||||
2,091 | DISH DBS Corp. (Media) | 5.13 | 5/1/20 | 2,133 | ||||||||||||
1,163 | DISH DBS Corp. (Media) | 5.88 | 7/15/22 | 1,169 | ||||||||||||
878 | DISH DBS Corp. (Media) | 6.75 | 6/1/21 | 923 | ||||||||||||
508 | Dollar Tree, Inc. (Multiline Retail), Callable 3/1/18 @ 104.31 | 5.75 | 3/1/23 | 532 | ||||||||||||
699 | Dynegy, Inc. (Independent Power & Renewable Electricity Producers), | 5.88 | 6/1/23 | 708 | ||||||||||||
1,742 | Dynegy, Inc. (Independent Power & Renewable Electricity Producers), | 7.38 | 11/1/22 | 1,838 |
See accompanying notes to financial statements.
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Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,419 | EMC Corp. (Technology Hardware, Storage & Peripherals), | 3.38 | 6/1/23 | $ | 1,368 | ||||||||||
1,819 | Endeavor Energy Resources, LP/EER Finance, Inc. (Oil, Gas & | 5.75 | 1/30/28 | 1,868 | ||||||||||||
355 | Envision Healthcare Corp. (Health Care Providers & Services), | 5.13 | 7/1/22 | 344 | ||||||||||||
1,101 | Envision Healthcare Corp. (Health Care Providers & Services), | 5.63 | 7/15/22 | 1,112 | ||||||||||||
601 | Equinix, Inc. (Equity Real Estate Investment Trusts), | 5.38 | 5/15/27 | 643 | ||||||||||||
2,564 | ESH Hospitality, Inc. (Hotels, Restaurants & Leisure), | 5.25 | 5/1/25 | 2,590 | ||||||||||||
1,146 | Exterran NRG Solutions (Energy Equipment & Services), | 8.13 | 5/1/25 | 1,232 | ||||||||||||
1,160 | Exterran Partners, LP (Energy Equipment & Services), Callable 2/5/18 @ 103.00 | 6.00 | 4/1/21 | 1,160 | ||||||||||||
1,778 | Extraction Oil & Gas Holdings, LLC (Oil, Gas & Consumable Fuels), | 7.88 | 7/15/21 | 1,880 | ||||||||||||
395 | Extraction Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), | 7.38 | 5/15/24 | 422 | ||||||||||||
2,342 | First Data Corp. (IT Services), Callable 1/15/19 @ 102.50 (a) | 5.00 | 1/15/24 | 2,410 | ||||||||||||
1,101 | First Data Corp. (IT Services), Callable 8/15/18 @ 102.69 (a) | 5.38 | 8/15/23 | 1,146 | ||||||||||||
592 | First Data Corp. (IT Services), Callable 12/1/18 @ 103.50 | 7.00 | 12/1/23 | 626 | ||||||||||||
1,675 | First Quality Finance Co., Inc. (Personal Products), Callable 7/1/20 @ 103.75 (a) | 5.00 | 7/1/25 | 1,709 | ||||||||||||
1,559 | FirstCash, Inc. (Consumer Finance), Callable 6/1/20 @ 102.69 | 5.38 | 6/1/24 | 1,625 | ||||||||||||
3,176 | Freeport-McMoRan, Inc. (Metals & Mining), Callable 12/1/21 @ 100.00 | 3.55 | 3/1/22 | 3,141 | ||||||||||||
1,093 | Freeport-McMoRan, Inc. (Metals & Mining), Callable 2/5/18 @ 103.38 | 6.75 | 2/1/22 | 1,131 | ||||||||||||
1,764 | Frontier Communications Corp. (Diversified Telecommunication Services), | 6.25 | 9/15/21 | 1,252 | ||||||||||||
696 | Frontier Communications Corp. (Diversified Telecommunication Services) | 7.13 | 1/15/23 | 463 | ||||||||||||
1,696 | Frontier Communications Corp. (Diversified Telecommunication Services)^ | 8.50 | 4/15/20 | 1,408 | ||||||||||||
1,065 | Frontier Communications Corp. (Diversified Telecommunication Services), | 10.50 | 9/15/22 | 805 | ||||||||||||
1,050 | FTS International, Inc. (Energy Equipment & Services), Callable 2/5/18 @ 101.50 (a) | | 9.09 (US0003M + 750.00 bps) | (c) | 6/15/20 | 1,071 | ||||||||||
1,087 | FXI Holdings, Inc. (Chemicals), Callable 11/1/20 @ 103.94 (a) | 7.88 | 11/1/24 | 1,085 | ||||||||||||
163 | GCI, Inc. (Diversified Telecommunication Services), Callable 2/5/18 @ 102.25 | 6.75 | 6/1/21 | 166 | ||||||||||||
371 | Genesis Energy, LP (Oil, Gas & Consumable Fuels), Callable 5/15/18 @ 104.50 | 6.00 | 5/15/23 | 376 | ||||||||||||
2,553 | Genesis Energy, LP (Oil, Gas & Consumable Fuels), Callable 8/1/18 @ 103.38 | 6.75 | 8/1/22 | 2,649 | ||||||||||||
1,399 | Genesis Energy, LP/Genesis Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/21 @ 104.69 | 6.25 | 5/15/26 | 1,394 | ||||||||||||
2,351 | GenOn Energy, Inc. (Independent Power & Renewable Electricity Producers), | 9.88 | 10/15/20 | 1,857 | ||||||||||||
210 | Geo Group, Inc. (The) (Equity Real Estate Investment Trusts), | 5.13 | 4/1/23 | 210 | ||||||||||||
137 | Geo Group, Inc. (The) (Equity Real Estate Investment Trusts), | 5.88 | 10/15/24 | 141 | ||||||||||||
2,480 | GLP Capital, LP (Equity Real Estate Investment Trusts) | 5.38 | 4/15/26 | 2,660 | ||||||||||||
610 | GLP Capital, LP (Equity Real Estate Investment Trusts), | 5.38 | 11/1/23 | 651 | ||||||||||||
1,102 | GMAC, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 1,433 | ||||||||||||
679 | Goldman Sachs Group, Inc., Series P (Capital Markets), | 5.00 | 12/31/49 | 668 | ||||||||||||
1,855 | Goldman Sachs Group, Inc., Series M (Capital Markets), | | 5.38 (US0003M + 392.20 bps | ) (c) | 12/31/49 | 1,901 | ||||||||||
1,093 | Gray Television, Inc. (Media), Callable 10/15/19 @ 103.84 (a) | 5.13 | 10/15/24 | 1,090 | ||||||||||||
2,767 | Gulfport Energy Corp. (Oil, Gas & Consumable Fuels), | 6.38 | 5/15/25 | 2,780 |
See accompanying notes to financial statements.
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Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 936 | H&E Equipment Services, Inc. (Trading Companies & Distributors), | 5.63 | 9/1/25 | $ | 978 | ||||||||||
1,304 | Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods), | 4.63 | 5/15/24 | 1,330 | ||||||||||||
4,659 | HCA Holdings, Inc. (Health Care Providers & Services), | 5.88 | 2/15/26 | 4,928 | ||||||||||||
1,768 | HCA, Inc. (Health Care Providers & Services) | 5.38 | 2/1/25 | 1,830 | ||||||||||||
601 | HCA, Inc. (Health Care Providers & Services) | 5.88 | 5/1/23 | 642 | ||||||||||||
2,113 | HealthSouth Corp. (Health Care Providers & Services), | 5.75 | 11/1/24 | 2,163 | ||||||||||||
1,016 | Hertz Corp. (The) (Road & Rail), Callable 6/1/19 @ 103.81 | 7.63 | 6/1/22 | 1,064 | ||||||||||||
1,077 | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), | 5.00 | 12/1/24 | 1,066 | ||||||||||||
849 | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), | 5.75 | 10/1/25 | 868 | ||||||||||||
859 | Hughes Satellite Systems Corp. (Communications Equipment) | 7.63 | 6/15/21 | 949 | ||||||||||||
940 | Ingles Markets, Inc. (Food & Staples Retailing), Callable 6/15/18 @ 102.88 | 5.75 | 6/15/23 | 952 | ||||||||||||
518 | iStar, Inc. (Equity Real Estate Investment Trusts), Callable 6/15/20 @ 100.00 | 4.63 | 9/15/20 | 526 | ||||||||||||
565 | Itron, Inc. (Electronic Equipment, Instruments & | 5.00 | 1/15/26 | 567 | ||||||||||||
994 | J.B. Poindexter & Co., Inc. (Machinery), Callable 2/5/18 @ 104.50 (a) | 9.00 | 4/1/22 | 1,031 | ||||||||||||
402 | J2 Cloud Services LLC/J2 Global Co-Obligor, Inc. (Internet Software & Services), Callable 7/15/20 @ 104.50 (a) | 6.00 | 7/15/25 | 423 | ||||||||||||
1,093 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), | 5.88 | 7/15/24 | 1,056 | ||||||||||||
393 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), | 7.25 | 6/1/21 | 399 | ||||||||||||
1,024 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), | 7.25 | 6/1/21 | 1,041 | ||||||||||||
1,053 | JC Penney Corp., Inc. (Multiline Retail), Callable 7/1/19 @ 102.94^ | 5.88 | 7/1/23 | 994 | ||||||||||||
1,170 | JC Penney Corp., Inc. (Multiline Retail)^ | 8.13 | 10/1/19 | 1,193 | ||||||||||||
424 | Jeld-Wen, Inc. (Building Products), Callable 12/15/20 @ 102.31 (a) | 4.63 | 12/15/25 | 427 | ||||||||||||
1,855 | JPMorgan Chase & Co. (Banks), Callable 5/1/20 @ 100.00, Perpetual Bond (d) | | 5.30 (US0003M + 380.00 bps) | (c) | 12/31/49 | 1,924 | ||||||||||
211 | Kaiser Aluminum Corp. (Metals & Mining), Callable 5/15/19 @ 104.41 | 5.88 | 5/15/24 | 224 | ||||||||||||
1,266 | KFC HLD/Pizza Hut/Taco (Hotels, Restaurants & Leisure), | 5.00 | 6/1/24 | 1,306 | ||||||||||||
1,340 | KLX, Inc. (Aerospace & Defense), Callable 2/5/18 @ 104.41 (a) | 5.88 | 12/1/22 | 1,403 | ||||||||||||
872 | Lennar Corp. (Household Durables), Callable 10/15/21 @ 100.00 | 4.13 | 1/15/22 | 889 | ||||||||||||
948 | Lennar Corp. (Household Durables), Callable 5/29/27 @ 100.00 (a) | 4.75 | 11/29/27 | 976 | ||||||||||||
1,047 | Lennar Corp. (Household Durables), Callable 2/28/25 @ 100.00 | 4.75 | 5/30/25 | 1,088 | ||||||||||||
400 | Lennar Corp. (Household Durables), Callable 9/15/23 @ 100.00 | 4.88 | 12/15/23 | 420 | ||||||||||||
744 | Limited Brands, Inc. (Specialty Retail) | 5.63 | 2/15/22 | 793 | ||||||||||||
169 | LIN Television Corp. (Media), Callable 1/16/18 @ 104.41 | 5.88 | 11/15/22 | 176 | ||||||||||||
597 | Live Nation Entertainment, Inc. (Media), Callable 11/1/19 @ 103.66 (a) | 4.88 | 11/1/24 | 612 | ||||||||||||
49 | LKQ Corp. (Distributors), Callable 5/15/18 @ 102.38 | 4.75 | 5/15/23 | 50 | ||||||||||||
3,320 | Lockheed Martin Corp. (Aerospace & Defense) (a) | | 8.65 (LIBOR01M + 721.75 bps) | (c) | 9/15/20 | 3,371 | ||||||||||
1,500 | Louisiana-Pacific Corp. (Paper & Forest Products), Callable 9/15/19 @ 103.66 | 4.88 | 9/15/24 | 1,549 | ||||||||||||
1,827 | LSC Communications, Inc. (Commercial Services & Supplies), | 8.75 | 10/15/23 | 1,878 | ||||||||||||
399 | M/I Homes, Inc. (Household Durables), Callable 8/1/20 @ 104.22 | 5.63 | 8/1/25 | 405 | ||||||||||||
1,006 | M/I Homes, Inc. (Household Durables), Callable 1/22/18 @ 103.38 | 6.75 | 1/15/21 | 1,041 | ||||||||||||
542 | Match Group, Inc. (Internet Software & Services), | 5.00 | 12/15/27 | 550 | ||||||||||||
87 | Match Group, Inc. (Internet Software & Services), Callable 6/1/19 @ 104.78 | 6.38 | 6/1/24 | 94 | ||||||||||||
2,224 | Mattel, Inc. (Leisure Products), Callable 12/31/20 @ 105.06 (a) | 6.75 | 12/31/25 | 2,254 | ||||||||||||
1,080 | Meritage Homes Corp. (Household Durables) | 7.15 | 4/15/20 | 1,175 |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,933 | MetLife, Inc., Series C (Insurance), | | 5.25 (US0003M + 357.50 bps) | (c) | 12/31/49 | $ | 2,010 | ||||||||
707 | MGM Growth/MGM Finance (Hotels, Restaurants & Leisure), | 5.63 | 5/1/24 | 753 | ||||||||||||
2,900 | MGM Resorts International (Hotels, Restaurants & Leisure) | 6.00 | 3/15/23 | 3,132 | ||||||||||||
43 | MidContinent Express Pipeline LLC (Oil, Gas & Consumable Fuels) | 6.70 | 9/15/19 | 45 | ||||||||||||
206 | Moog, Inc. (Aerospace & Defense), Callable 2/5/18 @ 103.94 (a) | 5.25 | 12/1/22 | 213 | ||||||||||||
1,266 | Multi-Color Corp. (Commercial Services & Supplies), Callable 11/1/20 @ 102.44 (a) | 4.88 | 11/1/25 | 1,271 | ||||||||||||
1,425 | Multi-Color Corp. (Commercial Services & Supplies), Callable 2/5/18 @ 104.59 (a) | 6.13 | 12/1/22 | 1,487 | ||||||||||||
634 | Murphy Oil USA, Inc. (Specialty Retail), Callable 5/1/22 @ 102.81 | 5.63 | 5/1/27 | 666 | ||||||||||||
548 | Navient Corp. (Consumer Finance) | 6.50 | 6/15/22 | 575 | ||||||||||||
1,927 | Navient Corp., MTN (Consumer Finance) | 7.25 | 1/25/22 | 2,064 | ||||||||||||
578 | NCR Corp. (Technology Hardware, Storage & Peripherals), Callable 2/5/18 @ 102.31 | 4.63 | 2/15/21 | 583 | ||||||||||||
1,279 | NCR Corp. (Technology Hardware, Storage & Peripherals), Callable 2/5/18 @ 102.94 | 5.88 | 12/15/21 | 1,311 | ||||||||||||
2,285 | Neptune Finance Corp. (Media), Callable 1/15/19 @ 107.59 (a) | 10.13 | 1/15/23 | 2,573 | ||||||||||||
1,377 | Netflix, Inc. (Internet & Direct Marketing Retail) (a) | 4.88 | 4/15/28 | 1,349 | ||||||||||||
543 | Netflix, Inc. (Internet & Direct Marketing Retail) | 5.75 | 3/1/24 | 578 | ||||||||||||
497 | Netflix, Inc. (Internet & Direct Marketing Retail) | 5.88 | 2/15/25 | 528 | ||||||||||||
949 | New Amethyst Corp. (Health Care Providers & Services), | 6.25 | 12/1/24 | 977 | ||||||||||||
966 | New Home Co., Inc. (The) (Household Durables), Callable 10/1/19 @ 103.63 | 7.25 | 4/1/22 | 1,012 | ||||||||||||
1,423 | Nexstar Escrow Corp. (Media), Callable 8/1/19 @ 104.22 (a) | 5.63 | 8/1/24 | 1,469 | ||||||||||||
1,110 | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), | 6.13 | 3/1/25 | 1,082 | ||||||||||||
660 | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), | 7.50 | 11/1/23 | 683 | ||||||||||||
2,485 | NGL Energy Partners, LP/Finance Co. (Oil, Gas & Consumable Fuels), | 6.88 | 10/15/21 | 2,535 | ||||||||||||
436 | NRG Energy, Inc. (Independent Power & Renewable Electricity Producers), | 5.75 | 1/15/28 | 440 | ||||||||||||
1,122 | NRG Energy, Inc. (Independent Power & Renewable Electricity Producers), | 6.25 | 7/15/22 | 1,167 | ||||||||||||
286 | NuStar Logistics, LP (Oil, Gas & Consumable Fuels) | 6.75 | 2/1/21 | 305 | ||||||||||||
1,972 | OneMain Financial Holdings, Inc. (Consumer Finance), Callable 2/5/18 @ 103.63 (a) | 7.25 | 12/15/21 | 2,049 | ||||||||||||
453 | Owens-Brockway Glass Container, Inc. (Containers & Packaging) | 5.88 | 8/15/23 | 488 | ||||||||||||
968 | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 5/15/21 @ 104.31 (a) | 5.75 | 5/15/26 | 992 | ||||||||||||
1,939 | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.59 | 6.13 | 9/15/24 | 2,007 | ||||||||||||
1,205 | Peabody Finance Corp. (Oil, Gas & Consumable Fuels), | 6.00 | 3/31/22 | 1,250 | ||||||||||||
1,991 | Peabody Finance Corp. (Oil, Gas & Consumable Fuels), | 6.38 | 3/31/25 | 2,071 | ||||||||||||
1,463 | Penske Automotive Group (Specialty Retail), Callable 12/1/19 @ 102.69 | 5.38 | 12/1/24 | 1,485 | ||||||||||||
568 | Performance Food Group, Inc. (Food & Staples Retailing), Callable 6/1/19 @ 102.75 | 5.50 | 6/1/24 | 586 | ||||||||||||
138 | Pilgrim’s Pride Corp. (Food Products), Callable 3/15/20 @ 102.88 (a) | 5.75 | 3/15/25 | 142 | ||||||||||||
138 | Pilgrim’s Pride Corp. (Food Products), Callable 9/30/22 @ 102.94 (a) | 5.88 | 9/30/27 | 142 | ||||||||||||
742 | Plastipak Holdings, Inc. (Containers & Packaging), Callable 10/15/20 @ 103.13 (a) | 6.25 | 10/15/25 | 763 | ||||||||||||
629 | PolyOne Corp. (Chemicals) | 5.25 | 3/15/23 | 662 | ||||||||||||
1,905 | Post Holdings, Inc. (Food Products), Callable 8/15/21 @ 102.50 (a) | 5.00 | 8/15/26 | 1,874 | ||||||||||||
1,205 | Post Holdings, Inc. (Food Products), Callable 3/1/20 @ 104.13 | 5.50 | 3/1/25 | 1,247 | ||||||||||||
1,101 | Post Holdings, Inc. (Food Products), Callable 12/1/22 @ 102.81 (a) | 5.63 | 1/15/28 | 1,105 | ||||||||||||
948 | PulteGroup, Inc. (Household Durables), Callable 12/1/25 @ 100.00 | 5.50 | 3/1/26 | 1,031 | ||||||||||||
1,076 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 7/1/22 @ 100.00 | 5.38 | 10/1/22 | 1,100 | ||||||||||||
413 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 12/1/25 @ 100.00 | 5.63 | 3/1/26 | 419 | ||||||||||||
1,570 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | 6.80 | 3/1/20 | 1,652 | ||||||||||||
1,376 | Quad Graphics, Inc. (Commercial Services & Supplies) | 7.00 | 5/1/22 | 1,424 | ||||||||||||
1,377 | QualityTech, LP/QTS Finance Corp. (Internet Software & Services), | 4.75 | 11/15/25 | 1,392 |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 2,056 | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 1/15/23 @ 102.63 (a) | 5.25 | 1/15/28 | $ | 2,029 | ||||||||||
1,916 | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 5/1/20 @ 102.88 (a) | 5.75 | 5/1/25 | 1,983 | ||||||||||||
684 | Quintiles IMS, Inc. (Health Care Technology), Callable 10/15/21 @ 102.50 (a) | 5.00 | 10/15/26 | 701 | ||||||||||||
143 | Quintiles Transnational (Life Sciences Tools & Services), Callable 5/15/18 @ 103.66 (a) | 4.88 | 5/15/23 | 147 | ||||||||||||
634 | Qwest Corp. (Diversified Telecommunication Services) | 6.75 | 12/1/21 | 683 | ||||||||||||
1,128 | Radian Group, Inc. (Thrifts & Mortgage Finance), Callable 7/1/24 @ 100.00 | 4.50 | 10/1/24 | 1,156 | ||||||||||||
1,018 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/25 @ 100.00 | 4.88 | 5/15/25 | 982 | ||||||||||||
1,345 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/22 @ 100.00 | 5.00 | 8/15/22 | 1,338 | ||||||||||||
386 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/22 @ 100.00 | 5.00 | 3/15/23 | 384 | ||||||||||||
2 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 3/1/21 @ 100.00 | 5.75 | 6/1/21 | 2 | ||||||||||||
953 | Realogy Group LLC/Realogy Co-Issuer Corp. (Real Estate Management & Development), | 4.88 | 6/1/23 | 941 | ||||||||||||
4,831 | Rite Aid Corp. (Food & Staples Retailing), Callable 4/1/18 @ 104.59 (a) | 6.13 | 4/1/23 | 4,360 | ||||||||||||
595 | Rockies Express Pipeline LLC (Oil, Gas & Consumable Fuels) (a) | 6.88 | 4/15/40 | 669 | ||||||||||||
946 | Rose Rock Midstream, LP (Oil, Gas & Consumable Fuels), Callable 1/22/18 @ 104.22 | 5.63 | 7/15/22 | 934 | ||||||||||||
1,748 | Rose Rock Midstream, LP (Oil, Gas & Consumable Fuels), Callable 5/15/19 @ 102.81 | 5.63 | 11/15/23 | 1,704 | ||||||||||||
614 | Sabre Holdings Corp. (IT Services), Callable 11/15/18 @ 103.94 (a) | 5.25 | 11/15/23 | 628 | ||||||||||||
1,146 | Sabre Holdings Corp. (IT Services), Callable 4/15/18 @ 104.03 (a) | 5.38 | 4/15/23 | 1,180 | ||||||||||||
814 | Scotts Miracle-GRO Co. (Chemicals), Callable 12/15/21 @ 102.63 | 5.25 | 12/15/26 | 853 | ||||||||||||
2,065 | Select Medical Corp. (Health Care Providers & Services), Callable 2/5/18 @ 103.19 | 6.38 | 6/1/21 | 2,119 | ||||||||||||
1,023 | Service Corp. International (Diversified Consumer Services), Callable 5/15/19 @ 102.69 | 5.38 | 5/15/24 | 1,078 | ||||||||||||
431 | Service Corp. International (Diversified Consumer Services) | 8.00 | 11/15/21 | 504 | ||||||||||||
2,024 | Service Master Co. LLC (Diversified Consumer Services), Callable 11/15/19 @ 103.84 (a) | 5.13 | 11/15/24 | 2,049 | ||||||||||||
832 | SESI LLC (Diversified Financial Services), Callable 2/5/18 @ 102.38 | 7.13 | 12/15/21 | 853 | ||||||||||||
1,540 | Sinclair Television Group (Media), Callable 8/1/19 @ 102.81 (a) | 5.63 | 8/1/24 | 1,588 | ||||||||||||
184 | Sinclair Television Group, Inc. (Media), Callable 1/22/18 @ 103.06 | 6.13 | 10/1/22 | 190 | ||||||||||||
592 | Sirius XM Radio, Inc. (Media), Callable 7/15/21 @ 102.69 | 5.38 | 7/15/26 | 613 | ||||||||||||
819 | Sirius XM Radio, Inc. (Media), Callable 4/15/20 @ 102.69 | 5.38 | 4/15/25 | 853 | ||||||||||||
542 | Sirius XM Radio, Inc. (Media), Callable 7/15/19 @ 103.00 (a) | 6.00 | 7/15/24 | 573 | ||||||||||||
460 | Sonic Automotive, Inc. (Specialty Retail), Callable 5/15/18 @ 102.50 | 5.00 | 5/15/23 | 444 | ||||||||||||
1,109 | Sonic Automotive, Inc. (Specialty Retail), Callable 3/15/22 @ 103.06 | 6.13 | 3/15/27 | 1,101 | ||||||||||||
2,345 | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 10/23/24 @ 100.00 | 6.70 | 1/23/25 | 2,436 | ||||||||||||
1,355 | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 4/1/21 @ 105.63 | 7.50 | 4/1/26 | 1,440 | ||||||||||||
198 | Spectrum Brands, Inc. (Household Products), Callable 12/15/19 @ 103.06 | 6.13 | 12/15/24 | 210 | ||||||||||||
1,413 | Springleaf Finance Corp. (Consumer Finance) | 5.63 | 3/15/23 | 1,416 | ||||||||||||
1,953 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.88 | 11/15/28 | 1,965 | ||||||||||||
2,986 | Sprint Corp. (Wireless Telecommunication Services) | 7.13 | 6/15/24 | 3,038 | ||||||||||||
487 | Sprint Corp. (Wireless Telecommunication Services), Callable 11/15/24 @ 100.00 | 7.63 | 2/15/25 | 510 | ||||||||||||
1,079 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 6.00 | 11/15/22 | 1,079 | ||||||||||||
595 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 11.50 | 11/15/21 | 718 | ||||||||||||
3,299 | Staples, Inc. (Specialty Retail), Callable 9/15/20 @ 104.25 (a) | 8.50 | 9/15/25 | 3,051 | ||||||||||||
1,797 | Steel Dynamics, Inc. (Metals & Mining), Callable 9/15/20 @ 102.06 (a) | 4.13 | 9/15/25 | 1,810 | ||||||||||||
430 | Steel Dynamics, Inc. (Metals & Mining), Callable 12/15/21 @ 102.50 | 5.00 | 12/15/26 | 455 | ||||||||||||
217 | Steel Dynamics, Inc. (Metals & Mining), Callable 2/5/18 @ 102.56 | 5.13 | 10/1/21 | 222 | ||||||||||||
356 | Steel Dynamics, Inc. (Metals & Mining), Callable 4/15/18 @ 102.63 | 5.25 | 4/15/23 | 367 | ||||||||||||
578 | Symantec Corp. (Software), Callable 4/15/20 @ 102.50 (a) | 5.00 | 4/15/25 | 601 | ||||||||||||
2,518 | Tallgrass Energy Partners (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.13 | 5.50 | 9/15/24 | 2,584 | ||||||||||||
722 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/23 @ 102.75 (a) | 5.50 | 1/15/28 | 731 | ||||||||||||
548 | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 11/15/22 @ 102.31 | 4.63 | 11/15/27 | 553 | ||||||||||||
261 | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 6/1/21 @ 102.44 | 4.88 | 6/1/26 | 269 | ||||||||||||
936 | Tempur Sealy International, Inc. (Household Durables), Callable 10/15/18 @ 104.22 | 5.63 | 10/15/23 | 973 | ||||||||||||
2,415 | Tenet Healthcare Corp. (Health Care Providers & Services) | 4.50 | 4/1/21 | 2,427 | ||||||||||||
206 | Tenet Healthcare Corp. (Health Care Providers & Services) | 4.75 | 6/1/20 | 210 | ||||||||||||
3,007 | Tenet Healthcare Corp. (Health Care Providers & Services) | 6.00 | 10/1/20 | 3,179 |
See accompanying notes to financial statements.
141
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 584 | Tenet Healthcare Corp. (Health Care Providers & Services), Callable 1/1/19 @ 103.75 (a) | 7.50 | 1/1/22 | $ | 613 | ||||||||||
870 | Tenneco, Inc. (Auto Components), Callable 7/15/21 @ 102.50 | 5.00 | 7/15/26 | 892 | ||||||||||||
685 | TerraForm Power Operating LLC (Independent Power & Renewable Electricity Producers), Callable 10/31/22 @ 100.00 (a) | 4.25 | 1/31/23 | 680 | ||||||||||||
685 | TerraForm Power Operating LLC (Independent Power & Renewable Electricity Producers), Callable 7/31/27 @ 100.00 (a) | 5.00 | 1/31/28 | 678 | ||||||||||||
1,348 | THC Escrow Corp. III (Health Care Providers & Services), Callable 5/1/20 @ 102.56 (a) | 5.13 | 5/1/25 | 1,314 | ||||||||||||
47 | The AES Corp. (Independent Power & Renewable Electricity Producers), | 5.50 | 4/15/25 | 49 | ||||||||||||
1,144 | The AES Corp. (Independent Power & Renewable Electricity Producers), | 7.38 | 7/1/21 | 1,284 | ||||||||||||
1,177 | The EW Scripps Co. (Media), Callable 5/15/20 @ 103.84 (a) | 5.13 | 5/15/25 | 1,171 | ||||||||||||
1,223 | The Ryland Group, Inc. (Household Durables) | 5.38 | 10/1/22 | 1,313 | ||||||||||||
692 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/15/19 @ 104.50 | 6.00 | 4/15/24 | 734 | ||||||||||||
759 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 9/1/18 @ 103.00 | 6.00 | 3/1/23 | 795 | ||||||||||||
535 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/18 @ 103.06 | 6.13 | 1/15/22 | 552 | ||||||||||||
1,481 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/21 @ 103.25 | 6.50 | 1/15/26 | 1,616 | ||||||||||||
464 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/19 @ 103.25 | 6.50 | 1/15/24 | 492 | ||||||||||||
773 | Toll Brothers Finance Corp. (Household Durables), Callable 1/15/23 @ 100.00 | 4.38 | 4/15/23 | 802 | ||||||||||||
836 | Toll Brothers Finance Corp. (Household Durables), Callable 11/15/21 @ 100.00 | 5.88 | 2/15/22 | 911 | ||||||||||||
811 | TransDigm, Inc. (Aerospace & Defense), Callable 2/5/18 @ 101.38 | 5.50 | 10/15/20 | 821 | ||||||||||||
1,542 | TreeHouse Foods, Inc. (Food Products), Callable 2/15/19 @ 104.50 | 6.00 | 2/15/24 | 1,604 | ||||||||||||
1,340 | TriMas Corp. (Machinery), Callable 10/15/20 @ 102.44 (a) | 4.88 | 10/15/25 | 1,345 | ||||||||||||
561 | Triumph Group, Inc. (Aerospace & Defense), Callable 2/5/18 @ 102.44 | 4.88 | 4/1/21 | 551 | ||||||||||||
1,182 | Triumph Group, Inc. (Aerospace & Defense), Callable 2/5/18 @ 103.94 | 5.25 | 6/1/22 | 1,158 | ||||||||||||
1,005 | Triumph Group, Inc. (Aerospace & Defense), Callable 8/15/20 @ 105.81 (a) | 7.75 | 8/15/25 | 1,067 | ||||||||||||
636 | Ultra Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/19 @ 103.44 (a) | 6.88 | 4/15/22 | 638 | ||||||||||||
1,104 | Ultra Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/20 @ 105.34 (a) | 7.13 | 4/15/25 | 1,101 | ||||||||||||
3,384 | Unit Corp. (Energy Equipment & Services), Callable 2/5/18 @ 102.21 | 6.63 | 5/15/21 | 3,409 | ||||||||||||
574 | United Airlines Pass Through Trust, Class B (Airlines) | 4.63 | 9/3/22 | 591 | ||||||||||||
709 | United Rentals North America, Inc. (Trading Companies & Distributors), | 4.63 | 10/15/25 | 714 | ||||||||||||
588 | United Rentals North America, Inc. (Trading Companies & Distributors), | 5.88 | 9/15/26 | 629 | ||||||||||||
1,079 | Universal Hospital Services, Inc. (Media), Callable 2/5/18 @ 101.91 | 7.63 | 8/15/20 | 1,079 | ||||||||||||
671 | Univision Communications, Inc. (Media), Callable 2/15/20 @ 102.56 (a) | 5.13 | 2/15/25 | 654 | ||||||||||||
993 | Univision Communications, Inc. (Media), Callable 5/15/18 @ 102.56 | 5.13 | 5/15/23 | 991 | ||||||||||||
1,497 | URS Corp. (Construction & Engineering), Callable 1/1/22 @ 100.00 | 5.00 | 4/1/22 | 1,540 | ||||||||||||
1,113 | US Foods, Inc. (Food & Staples Retailing), Callable 6/15/19 @ 102.94 (a) | 5.88 | 6/15/24 | 1,169 | ||||||||||||
220 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), Callable 2/5/18 @ 102.25 | 6.75 | 8/15/21 | 222 | ||||||||||||
200 | Vantiv LLC (IT Services), Callable 11/15/20 @ 102.19 (a) | 4.38 | 11/15/25 | 203 | ||||||||||||
282 | VeriSign, Inc. (Internet Software & Services), Callable 7/15/22 @ 102.38 | 4.75 | 7/15/27 | 288 | ||||||||||||
1,315 | ViaSat, Inc. (Communications Equipment), Callable 9/15/20 @ 102.81 (a) | 5.63 | 9/15/25 | 1,325 | ||||||||||||
1,361 | Wabash National Corp. (Machinery), Callable 10/1/20 @ 102.75 (a) | 5.50 | 10/1/25 | 1,371 | ||||||||||||
513 | Western Digital Corp. (Technology Hardware, Storage & Peripherals), | 7.38 | 4/1/23 | 553 | ||||||||||||
1,409 | Western Digital Corp. (Technology Hardware, Storage & Peripherals), | 10.50 | 4/1/24 | 1,633 | ||||||||||||
840 | William Lyon Homes, Inc. (Household Durables), Callable 1/31/20 @ 102.94 | 5.88 | 1/31/25 | 858 | ||||||||||||
651 | Williams Companies, Inc. (The) (Oil, Gas & Consumable Fuels), | 5.75 | 6/24/44 | 695 | ||||||||||||
465 | Williams Companies, Inc. (The), Series A (Oil, Gas & Consumable Fuels) | 7.50 | 1/15/31 | 568 | ||||||||||||
1,089 | Zayo Group LLC/Zayo Capital, Inc. (Diversified Telecommunication Services), | 5.75 | 1/15/27 | 1,111 | ||||||||||||
1,851 | Zayo Group LLC/Zayo Capital, Inc. (Diversified Telecommunication Services), | 6.00 | 4/1/23 | 1,928 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 368,943 | |||||||||||||||
|
|
See accompanying notes to financial statements.
142
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars — 11.34% | ||||||||||||||||
$ | 1,100 | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure), | 4.25 | 5/15/24 | $ | 1,097 | ||||||||||
1,518 | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure), | 5.00 | 10/15/25 | 1,530 | ||||||||||||
947 | Aircastle Ltd. (Trading Companies & Distributors) | 5.50 | 2/15/22 | 1,014 | ||||||||||||
1,236 | Alcoa Nederland Holding (Metals & Mining), Callable 9/30/21 @ 103.50 (a) | 7.00 | 9/30/26 | 1,387 | ||||||||||||
3,845 | Altice Financing SA (Media), Callable 2/15/18 @ 104.97 (a) | 6.63 | 2/15/23 | 4,026 | ||||||||||||
730 | Altice Financing SA (Media), Callable 5/15/21 @ 103.75 (a) | 7.50 | 5/15/26 | 777 | ||||||||||||
556 | ArcelorMittal (Metals & Mining) | 5.75 | (e) | 8/5/20 | 587 | |||||||||||
1,058 | Ardagh Packaging Finance/Holdings USA (Containers & Packaging), | 6.00 | 2/15/25 | 1,113 | ||||||||||||
543 | Barry Callebaut Services N.V. (Food Products) (a) | 5.50 | 6/15/23 | 592 | ||||||||||||
1,961 | Bombardier, Inc. (Aerospace & Defense), Callable 2/5/18 @ 104.50 (a) | 6.00 | 10/15/22 | 1,931 | ||||||||||||
649 | Bombardier, Inc. (Aerospace & Defense), Callable 3/15/20 @ 103.75 (a) | 7.50 | 3/15/25 | 654 | ||||||||||||
216 | Brookfield Residential Properties, Inc. (Household Durables), Callable 2/5/18 @ 101.63 (a) | 6.50 | 12/15/20 | 220 | ||||||||||||
277 | Cascades, Inc. (Containers & Packaging), Callable 2/5/18 @ 104.13 | 5.50 | 7/15/22 | 285 | ||||||||||||
709 | Cascades, Inc. (Containers & Packaging), Callable 7/15/18 @ 104.31 (a) | 5.75 | 7/15/23 | 732 | ||||||||||||
2,470 | Cimpress N.V. (Internet Software & Services), Callable 4/1/18 @ 105.25 (a) | 7.00 | 4/1/22 | 2,544 | ||||||||||||
1,879 | CNH Industrial N.V. (Machinery) | 4.50 | 8/15/23 | 1,954 | ||||||||||||
693 | Cooke Omega Investments, Inc./Alpha Vessel Co. Holdings, Inc. (Diversified Financial Services), Callable 6/15/20 @ 104.25 (a) | 8.50 | 12/15/22 | 688 | ||||||||||||
2,109 | Cott Holdings, Inc. (Beverages), Callable 4/1/20 @ 104.13 (a) | 5.50 | 4/1/25 | 2,170 | ||||||||||||
1,014 | Dana Financing Luxembourg Sarl (Auto Components), Callable 4/15/20 @ 104.31 | 5.75 | 4/15/25 | 1,069 | ||||||||||||
994 | Delphi Jersey Holdings PLC (Auto Components) (a) | 5.00 | 10/1/25 | 1,006 | ||||||||||||
1,402 | Hudby Minerals, Inc. (Metals & Mining), Callable 7/15/19 @ 103.63 (a) | 7.25 | 1/15/23 | 1,486 | ||||||||||||
1,572 | Hudby Minerals, Inc. (Metals & Mining), Callable 1/15/20 @ 105.72 (a) | 7.63 | 1/15/25 | 1,721 | ||||||||||||
685 | IHS Markit Ltd. (Professional Services), Callable 12/1/25 @ 100.00 (a) | 4.00 | 3/1/26 | 684 | ||||||||||||
2,033 | IHS Markit Ltd. (Professional Services), Callable 8/1/22 @ 100.00 | 5.00 | 11/1/22 | 2,205 | ||||||||||||
293 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), | 5.50 | 8/1/23 | 239 | ||||||||||||
60 | Intelsat Jackson Holdings SA (Diversified Telecommunication Services), | 7.50 | 4/1/21 | 55 | ||||||||||||
2,814 | Intergen N.V. (Multi-Utilities), Callable 6/30/18 @ 103.50 (a) | 7.00 | 6/30/23 | 2,724 | ||||||||||||
2,365 | International Game Technology (Hotels, Restaurants & Leisure), | 6.25 | 2/15/22 | 2,548 | ||||||||||||
639 | James Hardie International Finance DAC (Construction Materials), | 4.75 | 1/15/25 | 644 | ||||||||||||
2,087 | Kinross Gold Corp. (Metals & Mining), Callable 4/15/27 @ 100.00 (a) | 4.50 | 7/15/27 | 2,101 | ||||||||||||
699 | Lundin Mining Corp. (Metals & Mining), Callable 11/1/18 @ 103.94 | 7.88 | 11/1/22 | 748 | ||||||||||||
1,174 | Mallinckrodt International Finance (Pharmaceuticals)^ | 4.75 | 4/15/23 | 922 | ||||||||||||
615 | Mallinckrodt International Finance (Pharmaceuticals), Callable 4/15/20 @ 102.75 (a) | 5.50 | 4/15/25 | 501 | ||||||||||||
2,448 | MDC Partners, Inc. (Media), Callable 5/1/19 @ 104.88 (a) | 6.50 | 5/1/24 | 2,461 | ||||||||||||
1,397 | MEG Energy Corp. (Oil, Gas & Consumable Fuels), Callable 2/5/18 @ 103.19 (a) | 6.38 | 1/30/23 | 1,187 | ||||||||||||
1,524 | NCL Corp. Ltd. (Hotels, Restaurants & Leisure), Callable 12/15/18 @ 102.38 (a) | 4.75 | 12/15/21 | 1,577 | ||||||||||||
689 | Nokia OYJ (Communications Equipment) | 3.38 | 6/12/22 | 685 | ||||||||||||
689 | Nokia OYJ (Communications Equipment) | 4.38 | 6/12/27 | 681 | ||||||||||||
1,623 | Nova Chemicals Corp. (Chemicals), Callable 3/3/24 @ 100.00 (a) | 4.88 | 6/1/24 | 1,619 | ||||||||||||
921 | Nova Chemicals Corp. (Chemicals), Callable 8/1/18 @ 102.63 (a) | 5.25 | 8/1/23 | 947 | ||||||||||||
1,536 | Numericable – SFR SAS (Diversified Telecommunication Services), | 6.25 | 5/15/24 | 1,540 | ||||||||||||
1,043 | Numericable – SFR SAS (Diversified Telecommunication Services), | 7.38 | 5/1/26 | 1,074 | ||||||||||||
748 | NXP BV/NXP Funding LLC (Semiconductors & Semiconductor Equipment) (a) | 4.13 | 6/1/21 | 763 | ||||||||||||
1,795 | Open Text Corp. (Software), Callable 6/1/21 @ 102.94 (a) | 5.88 | 6/1/26 | 1,934 | ||||||||||||
691 | Precision Drilling Corp. (Energy Equipment & Services), Callable 11/15/20 @ 105.34 (a) | 7.13 | 1/15/26 | 705 | ||||||||||||
1,907 | Quebecor Media, Inc. (Media) | 5.75 | 1/15/23 | 2,021 |
See accompanying notes to financial statements.
143
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$ | 1,182 | Sensata Technologies BV (Electrical Equipment) (a) | 5.00 | 10/1/25 | $ | 1,250 | ||||||||||
1,503 | SFR Group SA (Diversified Telecommunication Services), Callable 2/5/18 @ 104.50 (a) | 6.00 | 5/15/22 | 1,522 | ||||||||||||
2,594 | Shelf Drill Hold Ltd. (Energy Equipment & Services), Callable 2/5/18 @ 102.16 (a) | 9.50 | 11/2/20 | 2,642 | ||||||||||||
1,458 | SoftBank Corp. (Wireless Telecommunication Services) | 4.50 | 4/15/20 | 1,489 | ||||||||||||
1,219 | Teck Resources Ltd. (Metals & Mining), Callable 1/15/41 @ 100.00 | 6.25 | 7/15/41 | 1,396 | ||||||||||||
773 | Teekay Corp. (Oil, Gas & Consumable Fuels)^ | 8.50 | 1/15/20 | 787 | ||||||||||||
1,875 | Transocean Phoenix 2 Ltd. (Energy Equipment & Services), | 7.75 | 10/15/24 | 2,053 | ||||||||||||
1,477 | Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc. (Chemicals), | 5.38 | 9/1/25 | 1,528 | ||||||||||||
874 | UPCB Finance IV Ltd. (Diversified Telecommunication Services), | 5.38 | 1/15/25 | 880 | ||||||||||||
589 | Valeant Pharmaceuticals International, Inc. (Pharmaceuticals), | 5.50 | 3/1/23 | 539 | ||||||||||||
516 | Videotron Ltd (Media) | 5.00 | 7/15/22 | 543 | ||||||||||||
710 | Videotron Ltd (Media), Callable 4/15/22 @ 102.56 | 5.13 | 4/15/27 | 742 | ||||||||||||
1,542 | VPII Escrow Corp. (Pharmaceuticals), Callable 2/5/18 @ 103.75 (a) | 7.50 | 7/15/21 | 1,571 | ||||||||||||
977 | VRX Escrow Corp. (Pharmaceuticals), Callable 4/15/20 @ 103.06 (a) | 6.13 | 4/15/25 | 894 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 76,984 | |||||||||||||||
|
| |||||||||||||||
Time Deposit — 0.23% | ||||||||||||||||
1,588 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.39 | 1/2/18 | 1,588 | ||||||||||||
|
| |||||||||||||||
Total Time Deposit | 1,588 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Exchange-Traded Fund — 5.36% | ||||||||||||||||
416,956 | iShares Iboxx $ High Yield Corporate Bond Fund | 36,384 | ||||||||||||||
|
| |||||||||||||||
Total Exchange-Traded Fund | 36,384 | |||||||||||||||
|
| |||||||||||||||
Mutual Funds — 9.80% | ||||||||||||||||
7,374,894 | Federated Treasury Obligations Fund, Institutional Shares^^ | 1.13 | (f) | 7,375 | ||||||||||||
866,893 | State Street Institutional Treasury Money Market Fund | 1.15 | (f) | 867 | ||||||||||||
58,298,234 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (f) | 58,298 | ||||||||||||
|
| |||||||||||||||
Total Mutual Funds | 66,540 | |||||||||||||||
|
| |||||||||||||||
Purchased Options — 0.00%† | ||||||||||||||||
Total Purchased Options — 0.00% | 13 | |||||||||||||||
|
| |||||||||||||||
Principal Amount (000) | ||||||||||||||||
Repurchase Agreement — 1.01% | ||||||||||||||||
$ | 6,862 | Jefferies LLC (Purchased on 12/29/17, proceeds at maturity $6,862,929 collateralized by U.S. Treasury Obligations, 1.44% – 2.84%, 5/15/18 – 2/15/47 fair value $6,999,021)^^ | 1.50 | 1/2/18 | 6,862 | |||||||||||
|
| |||||||||||||||
Total Repurchase Agreement | 6,862 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $676,045) — 102.69% | 697,387 | |||||||||||||||
Liabilities in excess of other assets — (2.69)% | (18,274 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 679,113 | ||||||||||||||
|
|
^ | All or part of this security was on loan as of December 31, 2017. The total value of securities on loan as of December 31, 2017, was $12,559 (amount in thousands). |
† | See options table below for details. |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2017. |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
(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) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate presented is the rate in effect at December 31, 2017. |
(c) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2017. |
(d) | A perpetual bond is one with no maturity date that pays a fixed interest rate until the bond insurance is terminated. |
(e) | 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, 2017. |
(f) | The rate disclosed is the rate in effect on December 31, 2017. |
bps — Basis Points
LIBOR01M — 1 Month US Dollar LIBOR
MTN — Medium Term Note
ULC — Unlimited Liability Co.
US0001M — 1 Month US Dollar LIBOR
US0003M — 3 Month US Dollar LIBOR
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Fixed Income Opportunity Portfolio | Fort Washington Investment Advisors, Inc. | Parametric Portfolio Associates, LLC | Western Asset Management Company | HC Capital Solutions | Total | |||||||||||||||
Collateralized Mortgage Obligations | — | — | 17.43 | % | — | 17.43 | % | |||||||||||||
U.S. Government Agency Mortgages | — | — | 3.19 | % | — | 3.19 | % | |||||||||||||
Corporate Bonds | 53.83 | % | — | 0.50 | % | — | 54.33 | % | ||||||||||||
Yankee Dollars | 11.34 | % | — | — | — | 11.34 | % | |||||||||||||
Time Deposit | 0.23 | % | — | — | — | 0.23 | % | |||||||||||||
Exchange-Traded Fund | — | 5.36 | % | — | — | 5.36 | % | |||||||||||||
Mutual Funds | 1.09 | % | 5.16 | % | 1.97 | % | 1.58 | % | 9.80 | % | ||||||||||
Purchased Options | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Repurchase Agreement | 1.01 | % | — | — | — | 1.01 | % | |||||||||||||
Other Assets (Liabilities) | -1.17 | % | -1.63 | % | 0.10 | % | 0.01 | % | -2.69 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Net Assets | 66.33 | % | 8.89 | % | 23.19 | % | 1.59 | % | 100.00 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2017.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
5-Year US Treasury Note Future | 266 | 3/30/18 | $ | 30,978 | $ | 30,900 | $ | (78 | ) | |||||||||
Ultra Long Term US Treasury Bond Future | 5 | 3/20/18 | 829 | 838 | 9 | |||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 31,807 | $ | 31,738 | $ | (69 | ) | ||||||||||||
|
|
|
|
|
|
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Futures Contracts Sold^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||
10-Year US Treasury Note Future | 13 | 3/21/18 | $ | 1,613 | $ | 1,620 | $ | 7 | ||||||||||
10-Year US Ultra Future | 114 | 3/20/18 | 15,226 | 15,239 | 13 | |||||||||||||
30-Year US Treasury Bond Future | 20 | 3/21/18 | 3,060 | 3,063 | 3 | |||||||||||||
5-Year US Treasury Note Future | 98 | 3/30/18 | 11,384 | 11,452 | 68 | |||||||||||||
|
|
|
|
|
| |||||||||||||
$ | 31,283 | $ | 31,374 | $ | 91 | |||||||||||||
|
|
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 100 | ||||||||||||||||
Total Unrealized Depreciation | (78 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 22 | ||||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Option Contracts
Exchange-traded options written as of December 31, 2017 were as follows:
Description | Number of Contracts | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | |||||||||||||
US 10-Year Future Option | 429 | $ | (429 | ) | $ | 128.00 | 1/26/18 | $ | (7 | ) | ||||||||
|
| |||||||||||||||||
Total | $ | (7 | ) | |||||||||||||||
|
|
Exchange-traded options purchased as of December 31, 2017 were as follows:
Description | Number of | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | |||||||||||||
US 10-Year Future Option | 429 | $ | 429 | $ | 127.00 | 1/26/18 | $ | 13 | ||||||||||
|
| |||||||||||||||||
Total | $ | 13 | ||||||||||||||||
|
|
Over-the-Counter Credit Default Swap Agreements — Sell Protection (a)
Open over-the-counter credit default swap agreements as of December 31, 2017 were as follows:
Underlying Instrument | Pay Fixed Rate | Payment Frequency | Implied Credit Spread at December 31, 2017 (b) | Counterparty | Expiration Date | Notional Amount (000) (c) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||||||||
CMBX Index | 0.50 | % | Monthly | 0.35 | % | Morgan Stanley | 5/11/63 | $ | 24,692 | $ | (158 | ) | $ | (129 | ) | $ | (29 | ) | ||||||||||||||||||
CMBX Index | 0.50 | % | Monthly | 0.35 | % | Morgan Stanley | 5/11/63 | 14,815 | (94 | ) | (77 | ) | (17 | ) | ||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||||||
$ | (252 | ) | $ | (206 | ) | $ | (46 | ) | ||||||||||||||||||||||||||||
|
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|
|
|
| |||||||||||||||||||||||||||||||
Total Unrealized Appreciation | $ | — | ||||||||||||||||||||||||||||||||||
Total Unrealized Depreciation | (46 | ) | ||||||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | (46 | ) | |||||||||||||||||||||||||||||||||
|
|
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
(a) | When a credit event occurs as defined under the terms of the swap agreement, the Portfolio as a seller of credit protection will either (i) pay to the buyer of protection an amount equal to the par value of the defaulted reference entity and take delivery of the reference entity or (ii) pay a net amount equal to the par value of the defaulted reference entity less its recovery value. Alternatively, the Portfolio as a buyer of credit protection will either (i) receive from the seller of protection an amount equal to the par value of the defaulted reference entity and deliver the reference entity to the seller or (ii) receive a net amount of equal to the par value of the defaulted reference entity less its recovery value. |
(b) | Implied credit spread, represented in absolute terms, utilized in determining the market value of the credit default swap agreements as of period end will serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a referenced entity reflects the cost of buying/selling protection and may include upfront or daily payments required to be made to enter into the agreement. Generally, wider credit spreads represent a perceived deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
(c) | The notional amount represents the maximum potential amount the Portfolio could be required to make as a seller of credit protection if a credit event occurs, as defined under the terms of the swap agreement. |
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, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Securities — 4.12% | ||||||||||||||||
$ | 250 | Fannie Mae | 0.88 | 8/2/19 | $ | 246 | ||||||||||
300 | Fannie Mae, Series 1, Callable 1/30/18 @ 100.00 | 1.00 | 4/30/18 | 300 | ||||||||||||
300 | Fannie Mae | 1.13 | 7/26/19 | 296 | ||||||||||||
360 | Fannie Mae | 1.50 | 6/22/20 | 356 | ||||||||||||
200 | Fannie Mae | 1.75 | 11/26/19 | 199 | ||||||||||||
350 | Fannie Mae | 1.88 | 9/24/26 | 330 | ||||||||||||
630 | Fannie Mae | 2.14 | (a)(b) | 10/9/19 | 608 | |||||||||||
250 | Fannie Mae | 2.63 | 9/6/24 | 253 | ||||||||||||
95 | Fannie Mae | 6.25 | 5/15/29 | 127 | ||||||||||||
160 | Fannie Mae | 6.63 | 11/15/30 | 225 | ||||||||||||
180 | Fannie Mae | 7.25 | 5/15/30 | 263 | ||||||||||||
50 | Federal Farm Credit Bank, Callable 1/12/18 @ 100.00 | 1.58 | 2/17/21 | 49 | ||||||||||||
250 | Federal Home Loan Bank | 0.88 | 8/5/19 | 246 | ||||||||||||
500 | Federal Home Loan Bank | 1.13 | 7/14/21 | 483 | ||||||||||||
250 | Federal Home Loan Bank | 1.13 | 6/21/19 | 247 | ||||||||||||
200 | Federal Home Loan Bank | 1.38 | 11/15/19 | 198 | ||||||||||||
500 | Federal Home Loan Bank | 1.38 | 9/28/20 | 491 | ||||||||||||
450 | Federal Home Loan Bank | 1.63 | 6/14/19 | 448 | ||||||||||||
50 | Federal Home Loan Bank | 2.13 | 3/10/23 | 49 | ||||||||||||
160 | Federal Home Loan Bank | 2.88 | 9/11/20 | 164 | ||||||||||||
180 | Federal Home Loan Bank | 5.25 | 12/11/20 | 196 | ||||||||||||
65 | Federal Home Loan Bank | 5.50 | 7/15/36 | 89 | ||||||||||||
500 | Freddie Mac | 1.13 | 4/15/19 | 495 | ||||||||||||
200 | Freddie Mac | 1.25 | 8/1/19 | 198 | ||||||||||||
550 | Freddie Mac | 1.25 | 10/2/19 | 543 | ||||||||||||
200 | Freddie Mac | 1.38 | 5/1/20 | 197 | ||||||||||||
250 | Freddie Mac | 1.40 | 8/22/19 | 248 | ||||||||||||
350 | Freddie Mac | 2.38 | 1/13/22 | 353 | ||||||||||||
150 | Freddie Mac | 6.25 | 7/15/32 | 210 | ||||||||||||
80 | Freddie Mac | 6.75 | 3/15/31 | 114 | ||||||||||||
110 | Tennessee Valley Authority | 4.70 | 7/15/33 | 135 | ||||||||||||
85 | Tennessee Valley Authority | 5.25 | 9/15/39 | 115 | ||||||||||||
100 | Tennessee Valley Authority | 5.88 | 4/1/36 | 141 | ||||||||||||
190 | Tennessee Valley Authority | 6.15 | 1/15/38 | 277 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Securities | 8,889 | |||||||||||||||
|
| |||||||||||||||
Corporate Bond — 0.12% | ||||||||||||||||
250 | Private Export Funding Corp. (Diversified Financial Services) | 4.38 | 3/15/19 | 257 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bond | 257 | |||||||||||||||
|
| |||||||||||||||
U.S. Treasury Obligations — 91.68% | ||||||||||||||||
1,460 | U.S. Treasury Bond | 2.25 | 8/15/46 | 1,315 | ||||||||||||
1,135 | U.S. Treasury Bond | 2.50 | 2/15/46 | 1,079 | ||||||||||||
1,550 | U.S. Treasury Bond | 2.50 | 5/15/46 | 1,473 | ||||||||||||
1,015 | U.S. Treasury Bond | 2.50 | 2/15/45 | 967 | ||||||||||||
665 | U.S. Treasury Bond | 2.75 | 11/15/47 | 665 | ||||||||||||
890 | U.S. Treasury Bond | 2.75 | 8/15/47 | 890 | ||||||||||||
837 | U.S. Treasury Bond | 2.75 | 8/15/42 | 842 | ||||||||||||
671 | U.S. Treasury Bond | 2.75 | 11/15/42 | 675 | ||||||||||||
980 | U.S. Treasury Bond | 2.88 | 8/15/45 | 1,004 | ||||||||||||
955 | U.S. Treasury Bond | 2.88 | 11/15/46 | 979 | ||||||||||||
1,116 | U.S. Treasury Bond | 2.88 | 5/15/43 | 1,146 | ||||||||||||
705 | U.S. Treasury Bond | 3.00 | 2/15/47 | 741 | ||||||||||||
925 | U.S. Treasury Bond | 3.00 | 5/15/47 | 971 | ||||||||||||
1,220 | U.S. Treasury Bond | 3.00 | 11/15/45 | 1,280 |
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, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,260 | U.S. Treasury Bond | 3.00 | 5/15/45 | $ | 1,322 | ||||||||||
389 | U.S. Treasury Bond | 3.00 | 5/15/42 | 409 | ||||||||||||
1,015 | U.S. Treasury Bond | 3.00 | 11/15/44 | 1,065 | ||||||||||||
647 | U.S. Treasury Bond | 3.13 | 2/15/43 | 694 | ||||||||||||
1,010 | U.S. Treasury Bond | 3.13 | 8/15/44 | 1,084 | ||||||||||||
425 | U.S. Treasury Bond | 3.13 | 2/15/42 | 456 | ||||||||||||
216 | U.S. Treasury Bond | 3.13 | 11/15/41 | 232 | ||||||||||||
1,130 | U.S. Treasury Bond | 3.38 | 5/15/44 | 1,267 | ||||||||||||
185 | U.S. Treasury Bond | 3.50 | 2/15/39 | 211 | ||||||||||||
900 | U.S. Treasury Bond | 3.63 | 8/15/43 | 1,049 | ||||||||||||
1,280 | U.S. Treasury Bond | 3.63 | 2/15/44 | 1,495 | ||||||||||||
1,345 | U.S. Treasury Bond | 3.75 | 11/15/43 | 1,601 | ||||||||||||
230 | U.S. Treasury Bond | 3.75 | 8/15/41 | 272 | ||||||||||||
185 | U.S. Treasury Bond | 3.88 | 8/15/40 | 223 | ||||||||||||
540 | U.S. Treasury Bond | 4.25 | 11/15/40 | 685 | ||||||||||||
400 | U.S. Treasury Bond | 4.25 | 5/15/39 | 505 | ||||||||||||
300 | U.S. Treasury Bond | 4.38 | 11/15/39 | 386 | ||||||||||||
363 | U.S. Treasury Bond | 4.38 | 5/15/40 | 468 | ||||||||||||
546 | U.S. Treasury Bond | 4.38 | 5/15/41 | 706 | ||||||||||||
325 | U.S. Treasury Bond | 4.50 | 2/15/36 | 418 | ||||||||||||
400 | U.S. Treasury Bond | 4.50 | 8/15/39 | 522 | ||||||||||||
195 | U.S. Treasury Bond | 4.50 | 5/15/38 | 253 | ||||||||||||
673 | U.S. Treasury Bond | 4.63 | 2/15/40 | 894 | ||||||||||||
825 | U.S. Treasury Bond | 4.75 | 2/15/41 | 1,119 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/37 | 93 | ||||||||||||
235 | U.S. Treasury Bond | 5.00 | 5/15/37 | 322 | ||||||||||||
282 | U.S. Treasury Bond | 5.25 | 11/15/28 | 358 | ||||||||||||
230 | U.S. Treasury Bond | 5.25 | 2/15/29 | 293 | ||||||||||||
299 | U.S. Treasury Bond | 5.38 | 2/15/31 | 397 | ||||||||||||
85 | U.S. Treasury Bond | 6.00 | 2/15/26 | 108 | ||||||||||||
235 | U.S. Treasury Bond | 6.13 | 11/15/27 | 311 | ||||||||||||
150 | U.S. Treasury Bond | 6.13 | 8/15/29 | 206 | ||||||||||||
122 | U.S. Treasury Bond | 6.25 | 8/15/23 | 148 | ||||||||||||
320 | U.S. Treasury Bond | 6.25 | 5/15/30 | 450 | ||||||||||||
100 | U.S. Treasury Bond | 6.38 | 8/15/27 | 134 | ||||||||||||
218 | U.S. Treasury Bond | 6.50 | 11/15/26 | 289 | ||||||||||||
200 | U.S. Treasury Bond | 6.75 | 8/15/26 | 268 | ||||||||||||
100 | U.S. Treasury Bond | 7.25 | 8/15/22 | 122 | ||||||||||||
295 | U.S. Treasury Bond | 7.63 | 2/15/25 | 397 | ||||||||||||
7 | U.S. Treasury Bond | 7.88 | 2/15/21 | 8 | ||||||||||||
400 | U.S. Treasury Bond | 8.00 | 11/15/21 | 487 | ||||||||||||
110 | U.S. Treasury Bond | 8.13 | 8/15/21 | 133 | ||||||||||||
350 | U.S. Treasury Bond | 8.13 | 8/15/19 | 385 | ||||||||||||
35 | U.S. Treasury Note | 0.75 | 8/15/19 | 34 | ||||||||||||
650 | U.S. Treasury Note | 0.75 | 7/15/19 | 639 | ||||||||||||
1,095 | U.S. Treasury Note | 0.75 | 2/15/19 | 1,082 | ||||||||||||
380 | U.S. Treasury Note | 0.88 | 7/31/19 | 374 | ||||||||||||
950 | U.S. Treasury Note | 0.88 | 4/15/19 | 938 | ||||||||||||
745 | U.S. Treasury Note | 0.88 | 6/15/19 | 735 | ||||||||||||
1,040 | U.S. Treasury Note | 0.88 | 9/15/19 | 1,022 | ||||||||||||
600 | U.S. Treasury Note | 1.00 | 8/31/19 | 591 | ||||||||||||
425 | U.S. Treasury Note | 1.00 | 11/30/19 | 418 | ||||||||||||
545 | U.S. Treasury Note | 1.00 | 10/15/19 | 537 | ||||||||||||
845 | U.S. Treasury Note | 1.00 | 3/15/19 | 836 | ||||||||||||
1,120 | U.S. Treasury Note | 1.00 | 11/15/19 | 1,102 |
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, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 416 | U.S. Treasury Note | 1.00 | 9/30/19 | $ | 410 | ||||||||||
750 | U.S. Treasury Note | 1.13 | 6/30/21 | 726 | ||||||||||||
1,005 | U.S. Treasury Note | 1.13 | 8/31/21 | 971 | ||||||||||||
575 | U.S. Treasury Note | 1.13 | 12/31/19 | 566 | ||||||||||||
1,100 | U.S. Treasury Note | 1.13 | 9/30/21 | 1,061 | ||||||||||||
840 | U.S. Treasury Note | 1.13 | 7/31/21 | 812 | ||||||||||||
325 | U.S. Treasury Note | 1.13 | 5/31/19 | 322 | ||||||||||||
480 | U.S. Treasury Note | 1.13 | 1/15/19 | 476 | ||||||||||||
700 | U.S. Treasury Note | 1.13 | 1/31/19 | 695 | ||||||||||||
1,075 | U.S. Treasury Note | 1.13 | 4/30/20 | 1,056 | ||||||||||||
705 | U.S. Treasury Note | 1.13 | 2/28/19 | 699 | ||||||||||||
520 | U.S. Treasury Note | 1.13 | 3/31/20 | 511 | ||||||||||||
910 | U.S. Treasury Note | 1.13 | 2/28/21 | 885 | ||||||||||||
500 | U.S. Treasury Note | 1.25 | 6/30/19 | 496 | ||||||||||||
1,050 | U.S. Treasury Note | 1.25 | 7/31/23 | 995 | ||||||||||||
800 | U.S. Treasury Note | 1.25 | 5/31/19 | 793 | ||||||||||||
915 | U.S. Treasury Note | 1.25 | 3/31/21 | 892 | ||||||||||||
835 | U.S. Treasury Note | 1.25 | 1/31/19 | 830 | ||||||||||||
710 | U.S. Treasury Note | 1.25 | 8/31/19 | 703 | ||||||||||||
875 | U.S. Treasury Note | 1.25 | 1/31/20 | 863 | ||||||||||||
1,000 | U.S. Treasury Note | 1.25 | 4/30/19 | 992 | ||||||||||||
850 | U.S. Treasury Note | 1.25 | 10/31/21 | 823 | ||||||||||||
300 | U.S. Treasury Note | 1.25 | 2/29/20 | 296 | ||||||||||||
475 | U.S. Treasury Note | 1.25 | 10/31/19 | 470 | ||||||||||||
625 | U.S. Treasury Note | 1.25 | 3/31/19 | 620 | ||||||||||||
260 | U.S. Treasury Note | 1.38 | 5/31/20 | 257 | ||||||||||||
900 | U.S. Treasury Note | 1.38 | 2/29/20 | 890 | ||||||||||||
900 | U.S. Treasury Note | 1.38 | 3/31/20 | 889 | ||||||||||||
965 | U.S. Treasury Note | 1.38 | 1/31/21 | 947 | ||||||||||||
550 | U.S. Treasury Note | 1.38 | 1/15/20 | 544 | ||||||||||||
1,055 | U.S. Treasury Note | 1.38 | 8/31/20 | 1,039 | ||||||||||||
910 | U.S. Treasury Note | 1.38 | 4/30/21 | 890 | ||||||||||||
1,140 | U.S. Treasury Note | 1.38 | 5/31/21 | 1,114 | ||||||||||||
750 | U.S. Treasury Note | 1.38 | 12/15/19 | 743 | ||||||||||||
650 | U.S. Treasury Note | 1.38 | 2/15/20 | 643 | ||||||||||||
710 | U.S. Treasury Note | 1.38 | 7/31/19 | 705 | ||||||||||||
635 | U.S. Treasury Note | 1.38 | 9/30/23 | 605 | ||||||||||||
500 | U.S. Treasury Note | 1.38 | 1/31/20 | 495 | ||||||||||||
965 | U.S. Treasury Note | 1.38 | 4/30/20 | 953 | ||||||||||||
1,000 | U.S. Treasury Note | 1.38 | 8/31/23 | 953 | ||||||||||||
590 | U.S. Treasury Note | 1.38 | 6/30/23 | 564 | ||||||||||||
925 | U.S. Treasury Note | 1.38 | 10/31/20 | 910 | ||||||||||||
695 | U.S. Treasury Note | 1.38 | 9/30/19 | 689 | ||||||||||||
640 | U.S. Treasury Note | 1.38 | 9/15/20 | 631 | ||||||||||||
850 | U.S. Treasury Note | 1.38 | 9/30/20 | 837 | ||||||||||||
668 | U.S. Treasury Note | 1.38 | 2/28/19 | 664 | ||||||||||||
750 | U.S. Treasury Note | 1.50 | 10/31/19 | 745 | ||||||||||||
60 | U.S. Treasury Note | 1.50 | 2/28/23 | 58 | ||||||||||||
1,155 | U.S. Treasury Note | 1.50 | 3/31/23 | 1,113 | ||||||||||||
500 | U.S. Treasury Note | 1.50 | 2/28/19 | 498 | ||||||||||||
655 | U.S. Treasury Note | 1.50 | 7/15/20 | 648 | ||||||||||||
655 | U.S. Treasury Note | 1.50 | 8/15/20 | 648 | ||||||||||||
533 | U.S. Treasury Note | 1.50 | 1/31/19 | 531 | ||||||||||||
1,800 | U.S. Treasury Note | 1.50 | 8/15/26 | 1,674 | ||||||||||||
1,135 | U.S. Treasury Note | 1.50 | 5/31/19 | 1,129 |
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, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,195 | U.S. Treasury Note | 1.50 | 5/31/20 | $ | 1,183 | ||||||||||
350 | U.S. Treasury Note | 1.50 | 6/15/20 | 346 | ||||||||||||
650 | U.S. Treasury Note | 1.50 | 3/31/19 | 647 | ||||||||||||
655 | U.S. Treasury Note | 1.50 | 4/15/20 | 649 | ||||||||||||
1,000 | U.S. Treasury Note | 1.50 | 11/30/19 | 993 | ||||||||||||
1,100 | U.S. Treasury Note | 1.50 | 1/31/22 | 1,073 | ||||||||||||
655 | U.S. Treasury Note | 1.50 | 5/15/20 | 649 | ||||||||||||
750 | U.S. Treasury Note | 1.63 | 5/31/23 | 726 | ||||||||||||
1,000 | U.S. Treasury Note | 1.63 | 10/15/20 | 991 | ||||||||||||
150 | U.S. Treasury Note | 1.63 | 3/15/20 | 149 | ||||||||||||
577 | U.S. Treasury Note | 1.63 | 11/15/22 | 562 | ||||||||||||
1,200 | U.S. Treasury Note | 1.63 | 8/31/22 | 1,170 | ||||||||||||
635 | U.S. Treasury Note | 1.63 | 10/31/23 | 613 | ||||||||||||
760 | U.S. Treasury Note | 1.63 | 8/31/19 | 757 | ||||||||||||
720 | U.S. Treasury Note | 1.63 | 3/31/19 | 718 | ||||||||||||
580 | U.S. Treasury Note | 1.63 | 4/30/19 | 578 | ||||||||||||
1,580 | U.S. Treasury Note | 1.63 | 5/15/26 | 1,488 | ||||||||||||
810 | U.S. Treasury Note | 1.63 | 4/30/23 | 785 | ||||||||||||
370 | U.S. Treasury Note | 1.63 | 8/15/22 | 361 | ||||||||||||
1,000 | U.S. Treasury Note | 1.63 | 12/31/19 | 995 | ||||||||||||
1,160 | U.S. Treasury Note | 1.63 | 6/30/19 | 1,156 | ||||||||||||
500 | U.S. Treasury Note | 1.63 | 7/31/19 | 498 | ||||||||||||
2,080 | U.S. Treasury Note | 1.63 | 2/15/26 | 1,964 | ||||||||||||
875 | U.S. Treasury Note | 1.63 | 11/30/20 | 866 | ||||||||||||
870 | U.S. Treasury Note | 1.63 | 7/31/20 | 863 | ||||||||||||
900 | U.S. Treasury Note | 1.63 | 6/30/20 | 893 | ||||||||||||
710 | U.S. Treasury Note | 1.75 | 9/30/22 | 696 | ||||||||||||
1,603 | U.S. Treasury Note | 1.75 | 5/15/23 | 1,563 | ||||||||||||
1,045 | U.S. Treasury Note | 1.75 | 2/28/22 | 1,029 | ||||||||||||
915 | U.S. Treasury Note | 1.75 | 11/30/21 | 902 | ||||||||||||
1,395 | U.S. Treasury Note | 1.75 | 5/31/22 | 1,371 | ||||||||||||
650 | U.S. Treasury Note | 1.75 | 6/30/22 | 638 | ||||||||||||
910 | U.S. Treasury Note | 1.75 | 4/30/22 | 894 | ||||||||||||
780 | U.S. Treasury Note | 1.75 | 9/30/19 | 778 | ||||||||||||
815 | U.S. Treasury Note | 1.75 | 10/31/20 | 810 | ||||||||||||
1,000 | U.S. Treasury Note | 1.75 | 12/31/20 | 993 | ||||||||||||
820 | U.S. Treasury Note | 1.75 | 3/31/22 | 806 | ||||||||||||
700 | U.S. Treasury Note | 1.75 | 1/31/23 | 684 | ||||||||||||
450 | U.S. Treasury Note | 1.75 | 5/15/22 | 443 | ||||||||||||
850 | U.S. Treasury Note | 1.75 | 11/15/20 | 845 | ||||||||||||
695 | U.S. Treasury Note | 1.75 | 11/30/19 | 693 | ||||||||||||
910 | U.S. Treasury Note | 1.88 | 9/30/22 | 897 | ||||||||||||
765 | U.S. Treasury Note | 1.88 | 8/31/24 | 744 | ||||||||||||
625 | U.S. Treasury Note | 1.88 | 11/30/21 | 620 | ||||||||||||
930 | U.S. Treasury Note | 1.88 | 7/31/22 | 917 | ||||||||||||
850 | U.S. Treasury Note | 1.88 | 10/31/22 | 838 | ||||||||||||
850 | U.S. Treasury Note | 1.88 | 3/31/22 | 840 | ||||||||||||
685 | U.S. Treasury Note | 1.88 | 12/31/19 | 685 | ||||||||||||
635 | U.S. Treasury Note | 1.88 | 12/15/20 | 633 | ||||||||||||
665 | U.S. Treasury Note | 1.88 | 5/31/22 | 657 | ||||||||||||
1,000 | U.S. Treasury Note | 1.88 | 4/30/22 | 988 | ||||||||||||
875 | U.S. Treasury Note | 1.88 | 8/31/22 | 863 | ||||||||||||
925 | U.S. Treasury Note | 1.88 | 2/28/22 | 915 | ||||||||||||
1,000 | U.S. Treasury Note | 1.88 | 1/31/22 | 990 | ||||||||||||
420 | U.S. Treasury Note | 1.88 | 6/30/20 | 419 |
See accompanying notes to financial statements.
151
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 660 | U.S. Treasury Note | 2.00 | 7/31/20 | $ | 661 | ||||||||||
850 | U.S. Treasury Note | 2.00 | 11/30/22 | 842 | ||||||||||||
800 | U.S. Treasury Note | 2.00 | 9/30/20 | 801 | ||||||||||||
1,540 | U.S. Treasury Note | 2.00 | 11/15/26 | 1,490 | ||||||||||||
2,025 | U.S. Treasury Note | 2.00 | 2/15/25 | 1,979 | ||||||||||||
680 | U.S. Treasury Note | 2.00 | 6/30/24 | 667 | ||||||||||||
840 | U.S. Treasury Note | 2.00 | 7/31/22 | 834 | ||||||||||||
745 | U.S. Treasury Note | 2.00 | 5/31/24 | 731 | ||||||||||||
700 | U.S. Treasury Note | 2.00 | 5/31/21 | 699 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 12/31/21 | 995 | ||||||||||||
1,538 | U.S. Treasury Note | 2.00 | 2/15/23 | 1,522 | ||||||||||||
1,110 | U.S. Treasury Note | 2.00 | 11/15/21 | 1,107 | ||||||||||||
700 | U.S. Treasury Note | 2.00 | 2/28/21 | 700 | ||||||||||||
900 | U.S. Treasury Note | 2.00 | 8/31/21 | 897 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 10/31/21 | 996 | ||||||||||||
1,680 | U.S. Treasury Note | 2.00 | 8/15/25 | 1,637 | ||||||||||||
760 | U.S. Treasury Note | 2.00 | 4/30/24 | 746 | ||||||||||||
550 | U.S. Treasury Note | 2.00 | 11/30/20 | 550 | ||||||||||||
900 | U.S. Treasury Note | 2.00 | 10/31/22 | 892 | ||||||||||||
938 | U.S. Treasury Note | 2.00 | 2/15/22 | 933 | ||||||||||||
750 | U.S. Treasury Note | 2.13 | 11/30/23 | 744 | ||||||||||||
1,660 | U.S. Treasury Note | 2.13 | 5/15/25 | 1,634 | ||||||||||||
760 | U.S. Treasury Note | 2.13 | 2/29/24 | 752 | ||||||||||||
945 | U.S. Treasury Note | 2.13 | 6/30/22 | 943 | ||||||||||||
1,095 | U.S. Treasury Note | 2.13 | 8/15/21 | 1,097 | ||||||||||||
600 | U.S. Treasury Note | 2.13 | 8/31/20 | 603 | ||||||||||||
800 | U.S. Treasury Note | 2.13 | 12/31/21 | 800 | ||||||||||||
1,680 | U.S. Treasury Note | 2.13 | 12/31/22 | 1,673 | ||||||||||||
1,175 | U.S. Treasury Note | 2.13 | 3/31/24 | 1,163 | ||||||||||||
750 | U.S. Treasury Note | 2.13 | 1/31/21 | 753 | ||||||||||||
1,000 | U.S. Treasury Note | 2.13 | 6/30/21 | 1,002 | ||||||||||||
750 | U.S. Treasury Note | 2.13 | 9/30/24 | 740 | ||||||||||||
785 | U.S. Treasury Note | 2.13 | 9/30/21 | 785 | ||||||||||||
745 | U.S. Treasury Note | 2.13 | 11/30/24 | 735 | ||||||||||||
765 | U.S. Treasury Note | 2.13 | 7/31/24 | 756 | ||||||||||||
1,500 | U.S. Treasury Note | 2.25 | 8/15/27 | 1,478 | ||||||||||||
500 | U.S. Treasury Note | 2.25 | 3/31/21 | 503 | ||||||||||||
450 | U.S. Treasury Note | 2.25 | 10/31/24 | 448 | ||||||||||||
740 | U.S. Treasury Note | 2.25 | 12/31/24 | 736 | ||||||||||||
1,700 | U.S. Treasury Note | 2.25 | 2/15/27 | 1,677 | ||||||||||||
950 | U.S. Treasury Note | 2.25 | 12/31/23 | 948 | ||||||||||||
785 | U.S. Treasury Note | 2.25 | 7/31/21 | 790 | ||||||||||||
1,035 | U.S. Treasury Note | 2.25 | 11/15/27 | 1,020 | ||||||||||||
700 | U.S. Treasury Note | 2.25 | 4/30/21 | 705 | ||||||||||||
1,575 | U.S. Treasury Note | 2.25 | 11/15/25 | 1,561 | ||||||||||||
1,955 | U.S. Treasury Note | 2.25 | 11/15/24 | 1,944 | ||||||||||||
1,620 | U.S. Treasury Note | 2.38 | 8/15/24 | 1,625 | ||||||||||||
1,560 | U.S. Treasury Note | 2.38 | 5/15/27 | 1,555 | ||||||||||||
700 | U.S. Treasury Note | 2.38 | 12/31/20 | 708 | ||||||||||||
1,370 | U.S. Treasury Note | 2.50 | 8/15/23 | 1,388 | ||||||||||||
2,105 | U.S. Treasury Note | 2.50 | 5/15/24 | 2,129 | ||||||||||||
1,353 | U.S. Treasury Note | 2.63 | 11/15/20 | 1,377 | ||||||||||||
1,377 | U.S. Treasury Note | 2.63 | 8/15/20 | 1,401 | ||||||||||||
529 | U.S. Treasury Note | 2.75 | 2/15/19 | 534 | ||||||||||||
1,317 | U.S. Treasury Note | 2.75 | 11/15/23 | 1,352 |
See accompanying notes to financial statements.
152
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,415 | U.S. Treasury Note | 2.75 | 2/15/24 | $ | 1,452 | ||||||||||
1,130 | U.S. Treasury Note | 3.13 | 5/15/19 | 1,149 | ||||||||||||
700 | U.S. Treasury Note | 3.13 | 5/15/21 | 724 | ||||||||||||
1,082 | U.S. Treasury Note | 3.38 | 11/15/19 | 1,112 | ||||||||||||
825 | U.S. Treasury Note | 3.50 | 5/15/20 | 855 | ||||||||||||
1,152 | U.S. Treasury Note | 3.63 | 2/15/21 | 1,208 | ||||||||||||
800 | U.S. Treasury Note | 3.63 | 8/15/19 | 822 | ||||||||||||
1,260 | U.S. Treasury Note | 3.63 | 2/15/20 | 1,305 | ||||||||||||
150 | U.S. Treasury Note | 5.50 | 8/15/28 | 193 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 197,931 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollar — 0.06% | ||||||||||||||||
115 | AID-Israel (Sovereign Bond) | 5.50 | 9/18/23 | 134 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollar | 134 | |||||||||||||||
|
| |||||||||||||||
Time Deposit — 0.09% | ||||||||||||||||
188 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.39 | 1/2/18 | 188 | ||||||||||||
|
| |||||||||||||||
Total Time Deposit | 188 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 3.40% | ||||||||||||||||
7,332,063 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (c) | 7,332 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 7,332 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $214,287) — 99.47% | 214,731 | |||||||||||||||
Other assets in excess of liabilities — 0.53% | 1,153 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 215,884 | ||||||||||||||
|
|
(a) | Zero Coupon Security. Effective rate shown is as of December 31, 2017. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | The rate disclosed is the rate in effect on December 31, 2017. |
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The U.S. Government Fixed Income Securities Portfolio | Mellon Capital Management Corporation | HC Capital Solutions | Total | |||||||||
U.S. Government Agency Securities | 4.12 | % | — | 4.12 | % | |||||||
Corporate Bond | 0.12 | % | — | 0.12 | % | |||||||
U.S. Treasury Obligations | 91.68 | % | — | 91.68 | % | |||||||
Yankee Dollar | 0.06 | % | — | 0.06 | % | |||||||
Time Deposit | 0.09 | % | — | 0.09 | % | |||||||
Mutual Fund | — | 3.40 | % | 3.40 | % | |||||||
Other Assets (Liabilities) | 0.53 | % | 0.00 | % | 0.53 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 96.60 | % | 3.40 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
153
Table of Contents
HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations — 96.60% | ||||||||||||||||
$ | 4,503 | U.S. Treasury Inflation Index Bond | 0.63 | 2/15/43 | $ | 4,413 | ||||||||||
7,574 | U.S. Treasury Inflation Index Bond | 0.75 | 2/15/45 | 7,625 | ||||||||||||
6,104 | U.S. Treasury Inflation Index Bond | 0.75 | 2/15/42 | 6,173 | ||||||||||||
5,462 | U.S. Treasury Inflation Index Bond | 0.88 | 2/15/47 | 5,685 | ||||||||||||
5,567 | U.S. Treasury Inflation Index Bond | 1.00 | 2/15/46 | 5,957 | ||||||||||||
6,820 | U.S. Treasury Inflation Index Bond | 1.38 | 2/15/44 | 7,885 | ||||||||||||
5,154 | U.S. Treasury Inflation Index Bond | 1.75 | 1/15/28 | 5,796 | ||||||||||||
6,422 | U.S. Treasury Inflation Index Bond | 2.00 | 1/15/26 | 7,228 | ||||||||||||
2,727 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/40 | 3,553 | ||||||||||||
3,471 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/41 | 4,554 | ||||||||||||
5,165 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/27 | 6,047 | ||||||||||||
8,814 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/25 | 10,049 | ||||||||||||
4,988 | U.S. Treasury Inflation Index Bond | 2.50 | 1/15/29 | 6,055 | ||||||||||||
2,012 | U.S. Treasury Inflation Index Bond | 3.38 | 4/15/32 | 2,785 | ||||||||||||
4,353 | U.S. Treasury Inflation Index Bond | 3.63 | 4/15/28 | 5,716 | ||||||||||||
5,295 | U.S. Treasury Inflation Index Bond | 3.88 | 4/15/29 | 7,224 | ||||||||||||
14,032 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/22 | 13,938 | ||||||||||||
13,769 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/23 | 13,668 | ||||||||||||
16,542 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/19 | 16,507 | ||||||||||||
13,391 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/24 | 13,241 | ||||||||||||
16,558 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/20 | 16,526 | ||||||||||||
13,289 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/22 | 13,240 | ||||||||||||
13,708 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/22 | 13,695 | ||||||||||||
14,396 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/21 | 14,340 | ||||||||||||
11,326 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/26 | 11,074 | ||||||||||||
13,427 | U.S. Treasury Inflation Index Note | 0.25 | 1/15/25 | 13,316 | ||||||||||||
11,097 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/27 | 11,046 | ||||||||||||
11,238 | U.S. Treasury Inflation Index Note | 0.38 | 1/15/27 | 11,164 | ||||||||||||
13,408 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/25 | 13,437 | ||||||||||||
13,659 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/23 | 13,768 | ||||||||||||
12,040 | U.S. Treasury Inflation Index Note | 0.63 | 7/15/21 | 12,275 | ||||||||||||
12,075 | U.S. Treasury Inflation Index Note | 0.63 | 1/15/26 | 12,276 | ||||||||||||
13,627 | U.S. Treasury Inflation Index Note | 0.63 | 1/15/24 | 13,873 | ||||||||||||
11,346 | U.S. Treasury Inflation Index Note | 1.13 | 1/15/21 | 11,687 | ||||||||||||
9,916 | U.S. Treasury Inflation Index Note | 1.25 | 7/15/20 | 10,241 | ||||||||||||
6,452 | U.S. Treasury Inflation Index Note | 1.38 | 1/15/20 | 6,622 | ||||||||||||
5,322 | U.S. Treasury Inflation Index Note | 1.88 | 7/15/19 | 5,488 | ||||||||||||
4,676 | U.S. Treasury Inflation Index Note | 2.13 | 1/15/19 | 4,773 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 362,940 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 4.58% | ||||||||||||||||
17,226,852 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (a) | 17,227 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 17,227 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $373,724) — 101.18% | 380,167 | |||||||||||||||
Liabilities in excess of other assets — (1.18)% | (4,434 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 375,733 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2017. |
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Inflation Protected Securities Portfolio | Mellon Capital Management Corporation | HC Capital Solutions | Total | |||||||||
U.S. Treasury Obligations | 96.60 | % | — | 96.60 | % | |||||||
Mutual Fund | 0.02 | % | 4.56 | % | 4.58 | % | ||||||
Other Assets (Liabilities) | -1.19 | % | 0.01 | % | -1.18 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 95.43 | % | 4.57 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
154
Table of Contents
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds — 69.37% | ||||||||||||||||
$ | 1,020 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 9/30/23 @ 100.00 | 3.40 | 11/30/23 | $ | 1,037 | ||||||||||
1,445 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | 3.75 | 11/30/26 | 1,483 | ||||||||||||
1,345 | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | 4.50 | 5/14/35 | 1,477 | ||||||||||||
570 | Alabama Power Co., Series B (Electric Utilities), Callable 6/1/47 @ 100.00 | 3.70 | 12/1/47 | 581 | ||||||||||||
155 | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | 4.15 | 8/15/44 | 167 | ||||||||||||
2,710 | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | 2.50 | 8/1/22 | 2,677 | ||||||||||||
755 | American Express Credit Corp., MTN (Consumer Finance), Callable 1/31/22 @ 100.00 | 2.70 | 3/3/22 | 757 | ||||||||||||
1,710 | Ameriprise Financial, Inc. (Capital Markets) | 3.70 | 10/15/24 | 1,785 | ||||||||||||
1,215 | Ameriprise Financial, Inc. (Capital Markets) | 4.00 | 10/15/23 | 1,293 | ||||||||||||
715 | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | 2.65 | 5/11/22 | 713 | ||||||||||||
1,295 | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | 3.13 | 5/1/25 | 1,300 | ||||||||||||
450 | Amgen, Inc. (Biotechnology), Callable 2/22/24 @ 100.00 | 3.63 | 5/22/24 | 467 | ||||||||||||
1,320 | Amgen, Inc. (Biotechnology), Callable 8/15/21 @ 100.00 | 3.88 | 11/15/21 | 1,380 | ||||||||||||
1,680 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), | 3.90 | 12/15/25 | 1,756 | ||||||||||||
3,558 | Anheuser-Busch InBev Finance, Inc. (Beverages), Callable 11/1/25 @ 100.00 | 3.65 | 2/1/26 | 3,670 | ||||||||||||
1,410 | Anheuser-Busch InBev Finance, Inc. (Beverages), Callable 8/1/45 @ 100.00 | 4.90 | 2/1/46 | 1,633 | ||||||||||||
1,730 | Anthem, Inc. (Health Care Providers & Services) | 3.13 | 5/15/22 | 1,745 | ||||||||||||
750 | Archer-Daniels-Midland Co. (Food Products) | 4.02 | 4/16/43 | 793 | ||||||||||||
300 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/14/23 @ 100.00 | 2.85 | 2/14/23 | 301 | ||||||||||||
700 | AT&T, Inc. (Diversified Telecommunication Services), Callable 5/14/27 @ 100.00 | 3.90 | 8/14/27 | 704 | ||||||||||||
2,140 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | 4.45 | 4/1/24 | 2,263 | ||||||||||||
1,730 | AT&T, Inc. (Diversified Telecommunication Services) | 5.35 | 9/1/40 | 1,824 | ||||||||||||
495 | AT&T, Inc. (Diversified Telecommunication Services) | 5.55 | 8/15/41 | 538 | ||||||||||||
265 | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | 4.13 | 10/15/44 | 289 | ||||||||||||
1,690 | Atmos Energy Corp. (Gas Utilities) | 8.50 | 3/15/19 | 1,816 | ||||||||||||
5,845 | Bank of America Corp., MTN (Banks) | 3.88 | 8/1/25 | 6,163 | ||||||||||||
1,033 | Bank One Corp. (Banks) | 8.00 | 4/29/27 | 1,381 | ||||||||||||
170 | Berkshire Hathaway, Inc. (Diversified Financial Services) | 4.40 | 5/15/42 | 191 | ||||||||||||
300 | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | 3.00 | 9/25/22 | 298 | ||||||||||||
1,265 | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | 3.25 | 8/15/26 | 1,208 | ||||||||||||
935 | Bunge Limited Finance Corp. (Food Products) | 8.50 | 6/15/19 | 1,013 | ||||||||||||
3,375 | Capital One Bank USA, Series BKNT (Consumer Finance), Callable 1/13/19 @ 100.00 | 2.25 | 2/13/19 | 3,371 | ||||||||||||
440 | Capital One Financial Corp. (Consumer Finance) | 3.50 | 6/15/23 | 448 | ||||||||||||
413 | Capital One Financial Corp. (Consumer Finance) | 4.75 | 7/15/21 | 441 | ||||||||||||
700 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 926 | ||||||||||||
3,505 | Citigroup, Inc. (Banks), Callable 11/8/21 @ 100.00 | 2.90 | 12/8/21 | 3,527 | ||||||||||||
3,460 | Citigroup, Inc. (Banks) | 3.40 | 5/1/26 | 3,480 | ||||||||||||
495 | Citigroup, Inc. (Banks) | 4.50 | 1/14/22 | 527 | ||||||||||||
1,730 | Coca-Cola Enterprises, Inc. (Beverages) | 3.50 | 9/15/20 | 1,776 | ||||||||||||
50 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 56 | ||||||||||||
1,825 | Comcast Corp. (Media) | 4.75 | 3/1/44 | 2,091 | ||||||||||||
1,235 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 6.50 | 2/1/39 | 1,727 | ||||||||||||
175 | Consolidated Edison Company of New York, Inc., Series 08-B (Multi-Utilities) | 6.75 | 4/1/38 | 251 | ||||||||||||
1,460 | Constellation Brands, Inc. (Beverages) | 4.75 | 11/15/24 | 1,600 | ||||||||||||
1,500 | CSX Corp. (Road & Rail) | 6.22 | 4/30/40 | 1,994 | ||||||||||||
3,094 | CVS Health Corp. (Food & Staples Retailing), Callable 9/1/22 @ 100.00 | 2.75 | 12/1/22 | 3,048 | ||||||||||||
680 | CVS Health Corp. (Food & Staples Retailing), Callable 1/20/35 @ 100.00 | 4.88 | 7/20/35 | 752 | ||||||||||||
1,068 | Delphi Corp. (Auto Components), Callable 12/15/23 @ 100.00 | 4.15 | 3/15/24 | 1,128 | ||||||||||||
235 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/22 @ 100.00 | 3.25 | 5/15/22 | 239 | ||||||||||||
925 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/21 @ 100.00 | 4.00 | 7/15/21 | 963 | ||||||||||||
1,330 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | 5.60 | 7/15/41 | 1,566 | ||||||||||||
895 | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | 2.75 | 2/1/23 | 887 | ||||||||||||
1,830 | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | 3.60 | 12/15/24 | 1,867 |
See accompanying notes to financial statements.
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The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 2,000 | Dominion Resources, Inc. (Multi-Utilities) | 5.20 | 8/15/19 | $ | 2,087 | ||||||||||
800 | Dow Chemical Co. (The) (Chemicals), Callable 7/1/24 @ 100.00 | 3.50 | 10/1/24 | 823 | ||||||||||||
120 | Dow Chemical Co. (The) (Chemicals), Callable 4/1/34 @ 100.00 | 4.25 | 10/1/34 | 126 | ||||||||||||
263 | Dow Chemical Co. (The) (Chemicals), Callable 5/15/41 @ 100.00 | 5.25 | 11/15/41 | 306 | ||||||||||||
200 | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | 4.25 | 12/15/41 | 220 | ||||||||||||
468 | Duke Energy Carolinas LLC (Electric Utilities) | 5.30 | 2/15/40 | 588 | ||||||||||||
965 | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | 3.75 | 4/15/24 | 1,008 | ||||||||||||
1,000 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), | 3.75 | 2/15/25 | 1,031 | ||||||||||||
1,962 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), | 4.85 | 3/15/44 | 2,149 | ||||||||||||
440 | FedEx Corp. (Air Freight & Logistics) | 4.90 | 1/15/34 | 498 | ||||||||||||
1,470 | Fiserv, Inc. (IT Services), Callable 5/1/20 @ 100.00 | 2.70 | 6/1/20 | 1,479 | ||||||||||||
1,195 | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | 3.85 | 6/1/25 | 1,246 | ||||||||||||
1,500 | General Motors Co. (Automobiles) | 3.50 | 10/2/18 | 1,516 | ||||||||||||
360 | Gilead Sciences, Inc. (Biotechnology), Callable 12/1/25 @ 100.00 | 3.65 | 3/1/26 | 373 | ||||||||||||
625 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 694 | ||||||||||||
393 | GlaxoSmithKline PLC (Pharmaceuticals) | 6.38 | 5/15/38 | 554 | ||||||||||||
3,035 | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | 3.50 | 1/23/25 | 3,082 | ||||||||||||
2,245 | Goldman Sachs Group, Inc. (Capital Markets) | 5.25 | 7/27/21 | 2,433 | ||||||||||||
1,440 | International Business Machines Corp. (IT Services) | 3.63 | 2/12/24 | 1,508 | ||||||||||||
755 | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | 6.00 | 11/15/41 | 944 | ||||||||||||
480 | Interpublic Group of Companies, Inc. (Media) | 4.00 | 3/15/22 | 496 | ||||||||||||
1,630 | Interpublic Group of Companies, Inc. (Media) | 4.20 | 4/15/24 | 1,709 | ||||||||||||
424 | Johnson & Johnson (Pharmaceuticals), Callable 6/5/33 @ 100.00 | 4.38 | 12/5/33 | 483 | ||||||||||||
2,870 | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | 3.13 | 1/23/25 | 2,885 | ||||||||||||
936 | JPMorgan Chase & Co. (Banks) | 3.63 | 5/13/24 | 973 | ||||||||||||
2,045 | JPMorgan Chase & Co. (Banks) | 4.35 | 8/15/21 | 2,169 | ||||||||||||
85 | Lincoln National Corp. (Insurance) | 4.85 | 6/24/21 | 91 | ||||||||||||
665 | Lincoln National Corp. (Insurance) | 7.00 | 6/15/40 | 916 | ||||||||||||
155 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/22 @ 100.00 | 3.10 | 1/15/23 | 157 | ||||||||||||
1,080 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | 4.50 | 5/15/36 | 1,211 | ||||||||||||
295 | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | 4.88 | 3/15/44 | 327 | ||||||||||||
585 | Medtronic, Inc. (Health Care Equipment & Supplies) | 4.63 | 3/15/45 | 681 | ||||||||||||
295 | Medtronic, Inc. (Health Care Equipment & Supplies), Callable 9/15/43 @ 100.00 | 4.63 | 3/15/44 | 338 | ||||||||||||
670 | MetLife, Inc. (Insurance) | 3.00 | 3/1/25 | 670 | ||||||||||||
594 | MetLife, Inc. (Insurance) | 6.50 | 12/15/32 | 778 | ||||||||||||
2,680 | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | 4.50 | 2/6/57 | 3,170 | ||||||||||||
2,679 | MidAmerican Energy Holdings Co. (Electric Utilities) | 6.13 | 4/1/36 | 3,577 | ||||||||||||
2,935 | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services), | 2.95 | 2/7/24 | 2,957 | ||||||||||||
2,625 | Nucor Corp. (Metals & Mining), Callable 6/15/22 @ 100.00 | 4.13 | 9/15/22 | 2,785 | ||||||||||||
760 | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | 5.20 | 8/1/43 | 920 | ||||||||||||
1,360 | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | 3.20 | 9/16/26 | 1,364 | ||||||||||||
250 | Oracle Corp. (Software) | 5.38 | 7/15/40 | 316 | ||||||||||||
1,590 | Oracle Corp. (Software) | 6.50 | 4/15/38 | 2,237 | ||||||||||||
800 | Philip Morris International, Inc. (Tobacco) | 4.50 | 3/20/42 | 870 | ||||||||||||
1,000 | PNC Bank NA (Banks), Callable 5/2/25 @ 100.00 | 3.25 | 6/1/25 | 1,015 | ||||||||||||
1,025 | PNC Financial Services Group, Inc. (Banks) | 2.85 | (a) | 11/9/22 | 1,027 | |||||||||||
373 | Procter & Gamble Co. (The) (Household Products) | 9.36 | 1/1/21 | 413 | ||||||||||||
1,090 | Progress Energy, Inc. (Electric Utilities) | 6.00 | 12/1/39 | 1,407 | ||||||||||||
975 | Reed Elsevier N.V. (Professional Services) | 8.63 | 1/15/19 | 1,034 | ||||||||||||
450 | Rock-Tenn Co. (Containers & Packaging) | 4.45 | 3/1/19 | 460 | ||||||||||||
815 | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | 3.50 | 3/15/27 | 830 |
See accompanying notes to financial statements.
156
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 215 | Roper Industries, Inc. (Industrial Conglomerates), Callable 8/15/22 @ 100.00 | 3.13 | 11/15/22 | $ | 218 | ||||||||||
1,950 | Roper Technologies, Inc. (Industrial Conglomerates), Callable 9/15/25 @ 100.00 | 3.85 | 12/15/25 | 2,012 | ||||||||||||
85 | Ryder System, Inc., MTN (Road & Rail), Callable 8/1/21 @ 100.00 | 2.25 | 9/1/21 | 84 | ||||||||||||
860 | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | 2.80 | 3/1/22 | 858 | ||||||||||||
615 | Southern California Gas Co. (Gas Utilities), Callable 6/15/24 @ 100.00 | 3.15 | 9/15/24 | 626 | ||||||||||||
695 | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | 3.00 | 11/15/26 | 674 | ||||||||||||
1,266 | Southwest Airlines Co. 2007-1 Trust (Airlines) | 6.15 | 8/1/22 | 1,378 | ||||||||||||
1,530 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), | 3.45 | 1/15/23 | 1,521 | ||||||||||||
1,225 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), | 4.95 | 1/15/43 | 1,151 | ||||||||||||
1,045 | SunTrust Banks, Inc. (Banks), Callable 2/3/21 @ 100.00 | 2.90 | 3/3/21 | 1,057 | ||||||||||||
600 | SunTrust Banks, Inc. (Banks), Callable 4/15/26 @ 100.00 | 3.30 | 5/15/26 | 594 | ||||||||||||
2,091 | TC Pipelines LP (Oil, Gas & Consumable Fuels), Callable 12/13/24 @ 100.00 | 4.38 | 3/13/25 | 2,175 | ||||||||||||
2,000 | The Dow Chemical Co. (Chemicals) | 8.55 | 5/15/19 | 2,166 | ||||||||||||
825 | The Home Depot, Inc. (Specialty Retail) | 5.88 | 12/16/36 | 1,116 | ||||||||||||
1,135 | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | 3.13 | 6/1/24 | 1,141 | ||||||||||||
300 | The Sherwin-Williams Co. (Chemicals), Callable 3/1/27 @ 100.00 | 3.45 | 6/1/27 | 305 | ||||||||||||
1,261 | The Travelers Companies, Inc. (Insurance) | 6.25 | 6/15/37 | 1,717 | ||||||||||||
1,000 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), | 3.00 | 4/15/23 | 1,006 | ||||||||||||
1,535 | �� | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), | 4.15 | 2/1/24 | 1,628 | |||||||||||
775 | Toyota Motor Credit Corp., MTN (Consumer Finance) | 3.30 | 1/12/22 | 799 | ||||||||||||
840 | Twenty-First Century Fox, Inc. (Media), Callable 3/15/44 @ 100.00 | 4.75 | 9/15/44 | 960 | ||||||||||||
1,698 | Twenty-First Century Fox, Inc. (Media) | 6.20 | 12/15/34 | 2,192 | ||||||||||||
890 | United Parcel Service, Inc. (Air Freight & Logistics) | 6.20 | 1/15/38 | 1,225 | ||||||||||||
404 | United Technologies Corp. (Aerospace & Defense) | 4.50 | 6/1/42 | 447 | ||||||||||||
905 | UnitedHealth Group, Inc. (Health Care Providers & Services) | 6.88 | 2/15/38 | 1,312 | ||||||||||||
865 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 6/15/37 | 1,139 | ||||||||||||
270 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | 3.25 | 8/15/22 | 273 | ||||||||||||
1,245 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | 3.50 | 2/1/25 | 1,254 | ||||||||||||
660 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.01 | 8/21/54 | 673 | ||||||||||||
5,525 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.15 | 9/15/23 | 6,146 | ||||||||||||
820 | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | 4.65 | 8/15/43 | 954 | ||||||||||||
530 | Waste Management, Inc. (Commercial Services & Supplies), Callable 12/1/24 @ 100.00 | 3.13 | 3/1/25 | 534 | ||||||||||||
3,995 | Wells Fargo & Co. (Banks) | 3.00 | 2/19/25 | 3,960 | ||||||||||||
550 | Wells Fargo & Co. (Banks) | 3.30 | 9/9/24 | 558 | ||||||||||||
1,360 | Wells Fargo & Co., MTN (Banks) | 4.60 | 4/1/21 | 1,445 | ||||||||||||
1,375 | WestRock Co. (Containers & Packaging) | 4.90 | 3/1/22 | 1,483 | ||||||||||||
340 | Westvaco Corp. (Containers & Packaging) | 8.20 | 1/15/30 | 478 | ||||||||||||
832 | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.75 | 8/1/37 | 1,183 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 184,741 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 12.94% | ||||||||||||||||
800 | America Movil SAB de CV (Wireless Telecommunication Services) | 6.13 | 11/15/37 | 1,002 | ||||||||||||
1,200 | Barclays PLC (Banks) | 3.20 | 8/10/21 | 1,206 | ||||||||||||
430 | BHP Billiton Ltd. (Metals & Mining) | 5.00 | 9/30/43 | 527 | ||||||||||||
2,094 | BP Capital Markets PLC (Oil, Gas & Consumable Fuels) | 3.54 | 11/4/24 | 2,175 | ||||||||||||
871 | British Telecommunications PLC (Diversified Telecommunication Services) | 9.13 | 12/15/30 | 1,301 | ||||||||||||
1,305 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), | 2.95 | 1/15/23 | 1,299 | ||||||||||||
520 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), | 3.45 | 11/15/21 | 532 | ||||||||||||
360 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), | 3.85 | 6/1/27 | 367 |
See accompanying notes to financial statements.
157
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$ | 640 | Canadian Pacific Railway Co. (Road & Rail), Callable 11/1/24 @ 100.00 | 2.90 | 2/1/25 | $ | 635 | ||||||||||
2,390 | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | 4.45 | 3/15/23 | 2,548 | ||||||||||||
165 | Canadian Pacific Railway Co. (Road & Rail) | 7.25 | 5/15/19 | 176 | ||||||||||||
751 | Deutsche Telekom International Finance BV (Diversified Financial Services) | 8.75 | (a) | 6/15/30 | 1,111 | |||||||||||
1,135 | HSBC Holdings PLC (Banks) | 4.00 | 3/30/22 | 1,185 | ||||||||||||
2,325 | HSBC Holdings PLC (Banks) | 5.10 | 4/5/21 | 2,498 | ||||||||||||
500 | HSBC Holdings PLC (Banks) | 6.80 | 6/1/38 | 681 | ||||||||||||
645 | Iberdrola International BV (Electric Utilities) | 5.81 | 3/15/25 | 741 | ||||||||||||
1,445 | Iberdrola International BV (Electric Utilities) | 6.75 | 7/15/36 | 1,905 | ||||||||||||
405 | LyondellBasell Industries N.V. (Chemicals) | 4.00 | 7/15/23 | 424 | ||||||||||||
125 | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | 4.63 | 2/26/55 | 131 | ||||||||||||
1,338 | LyondellBasell Industries N.V. (Chemicals), Callable 1/15/19 @ 100.00 | 5.00 | 4/15/19 | 1,374 | ||||||||||||
1,400 | LyondellBasell Industries N.V. (Chemicals), Callable 1/15/24 @ 100.00 | 5.75 | 4/15/24 | 1,595 | ||||||||||||
818 | Orange SA (Diversified Telecommunication Services) | 9.00 | 3/1/31 | 1,227 | ||||||||||||
1,875 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 6.38 | 12/15/38 | 2,612 | ||||||||||||
1,700 | Statoil ASA (Oil, Gas & Consumable Fuels) | 3.25 | 11/10/24 | 1,748 | ||||||||||||
395 | Statoil ASA (Oil, Gas & Consumable Fuels) | 5.10 | 8/17/40 | 476 | ||||||||||||
1,221 | Statoil ASA (Oil, Gas & Consumable Fuels) | 7.75 | 6/15/23 | 1,516 | ||||||||||||
745 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 7.05 | 6/20/36 | 999 | ||||||||||||
730 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 957 | ||||||||||||
451 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.20 | 10/15/37 | 595 | ||||||||||||
736 | Vodafone Group PLC (Wireless Telecommunication Services) | 6.15 | 2/27/37 | 923 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 34,466 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Funds — 17.32% | ||||||||||||||||
3,332,264 | SSgA U.S. Government Money Market Fund | 1.16 | (b) | 3,332 | ||||||||||||
42,788,729 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (b) | 42,789 | ||||||||||||
|
| |||||||||||||||
Total Mutual Funds | 46,121 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $260,412) — 99.63% | 265,328 | |||||||||||||||
Other assets in excess of liabilities — 0.37% | 993 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 266,321 | ||||||||||||||
|
|
(a) | 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, 2017. |
(b) | The rate disclosed is the rate in effect on December 31, 2017. |
MTN — Medium Term Note
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The U.S. Corporate Fixed Income Securities Portfolio | Agincourt Capital Management, LLC | HC Capital Solutions | Total | |||||||||
Corporate Bonds | 69.41 | % | — | 69.41 | % | |||||||
Yankee Dollars | 12.94 | % | — | 12.94 | % | |||||||
Mutual Funds | 1.25 | % | 16.07 | % | 17.32 | % | ||||||
Other Assets (Liabilities) | 0.32 | % | 0.01 | % | 0.33 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 83.92 | % | 16.08 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
158
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HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Asset Backed Securities — 1.42% | ||||||||||||||||
$ | 200 | American Express Credit Account Master Trust, Series 2017-1, Class A | 1.93 | 9/15/22 | $ | 199 | ||||||||||
270 | BMW Vehicle Lease Trust, Series 2017-1, Class A4, Callable 10/20/19 @ 100.00 | 2.18 | 6/22/20 | 270 | ||||||||||||
200 | BMW Vehicle Owner Trust, Series 2016-A, Class A4, Callable 3/25/20 @ 100.00 | 1.37 | 12/27/22 | 197 | ||||||||||||
165 | Capital One Multi-Asset Execution Trust, Series 2016-A3, Class A3 | 1.34 | 4/15/22 | 163 | ||||||||||||
150 | Capital One Multi-Asset Execution Trust, Series 2017-A4, Class A4 | 1.99 | 7/17/23 | 149 | ||||||||||||
100 | CarMax Auto Owner Trust, Series 2017-2, Class A4, Callable 12/15/20 @ 100.00 | 2.25 | 9/15/22 | 100 | ||||||||||||
300 | Chase Issuance Trust (CHAIT), Series 2016-A2, Class A | 1.37 | 6/15/21 | 297 | ||||||||||||
270 | Chase Issuance Trust (CHAIT), Series 2015-A4, Class A | 1.84 | 4/15/22 | 268 | ||||||||||||
100 | Citibank Credit Card Issuance Trust, Series 2014-A1, Class A1 | 2.88 | 1/23/23 | 102 | ||||||||||||
200 | Discover Card Execution Note Trust, Series 2014-A4, Class A4 | 2.12 | 12/15/21 | 200 | ||||||||||||
100 | Discover Card Execution Note Trust, Series 2017-A2, Class A2 | 2.39 | 7/15/24 | 100 | ||||||||||||
183 | Ford Credit Auto Owner Trust, Series 2016-B, Class A3, Callable 1/15/20 @ 100.00 | 1.33 | 10/15/20 | 182 | ||||||||||||
100 | Synchrony Credit Card Master Note Trust, Series 2016-1, Class A | 2.04 | 3/15/22 | 100 | ||||||||||||
83 | Toyota Auto Receivables Owner Trust, Series 2016-B, Class A3, | 1.30 | 4/15/20 | 83 | ||||||||||||
300 | Toyota Auto Receivables Owner Trust, Series 2017-A, Class A3, | 1.73 | 2/16/21 | 298 | ||||||||||||
|
| |||||||||||||||
Total Asset Backed Securities | 2,708 | |||||||||||||||
|
| |||||||||||||||
Collateralized Mortgage Obligations — 5.62% | ||||||||||||||||
200 | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class A2 | 3.12 | 2/15/50 | 203 | ||||||||||||
100 | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class ASB | 3.37 | 2/15/50 | 102 | ||||||||||||
228 | Citigroup Commercial Mortgage Trust, Series 2014-GC19, Class A2 | 2.79 | 3/10/47 | 230 | ||||||||||||
228 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4 | 2.88 | 2/10/48 | 227 | ||||||||||||
183 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5 | 3.14 | 2/10/48 | 184 | ||||||||||||
100 | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4 | 3.31 | 4/10/49 | 101 | ||||||||||||
100 | Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5 | 3.62 | 2/10/49 | 104 | ||||||||||||
228 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 238 | ||||||||||||
100 | Commercial Mortgage Trust, Series 2014-LC15, Class A2 | 2.84 | 4/10/47 | 101 | ||||||||||||
183 | Commercial Mortgage Trust, Series 2015-LC19, Class A4 | 3.18 | 2/10/48 | 185 | ||||||||||||
80 | Commercial Mortgage Trust, Series 2015-DC1, Class A5 | 3.35 | 2/10/48 | 81 | ||||||||||||
256 | Commercial Mortgage Trust, Series 2013-CR8, Class A5 | | 3.61 (US LIBOR) | (a) | 6/10/46 | 266 | ||||||||||
100 | Commercial Mortgage Trust, Series 2014-UBS4, Class AM | 3.97 | 8/10/47 | 104 | ||||||||||||
100 | Commercial Mortgage Trust, Series 2013-CR11, Class B | | 5.16 (US LIBOR) | (a) | 8/10/50 | 108 | ||||||||||
200 | CSAIL Commercial Mortgage Trust, Series 2016-C7, Class ASB | 3.31 | 11/15/49 | 203 | ||||||||||||
143 | Fannie Mae-ACES, Series 2016-M6, Class A1 | 2.14 | 5/25/26 | 139 | ||||||||||||
28 | Fannie Mae-ACES, Series 2013-M14, Class APT | 2.52 | (a) | 4/25/23 | 28 | |||||||||||
283 | Fannie Mae-ACES, Series 2015-M3, Class A2 | 2.72 | 10/25/24 | 282 | ||||||||||||
274 | Fannie Mae-ACES, Series 2012-M1, Class A2 | 2.73 | 10/25/21 | 277 | ||||||||||||
200 | Fannie Mae-ACES, Series 2017-M7, Class A2 | 2.96 | 2/25/27 | 201 | ||||||||||||
67 | Fannie Mae-ACES, Series 2012-M4, Class 1A2 | 2.98 | 4/25/22 | 68 | ||||||||||||
228 | Fannie Mae-ACES, Series 2014-M9, Class A2 | | 3.10 (US LIBOR) | (a) | 7/25/24 | 235 | ||||||||||
46 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class A2 | 2.31 | 8/25/22 | 45 | ||||||||||||
98 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K058, Class A1 | 2.34 | 7/25/26 | 96 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K027, Class A2 | 2.64 | 1/25/23 | 184 | ||||||||||||
350 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K055, Class A2 | 2.67 | 3/25/26 | 348 | ||||||||||||
119 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 121 | ||||||||||||
72 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 73 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class A2 | | 3.06 (US LIBOR) | (a) | 7/25/23 | 187 | ||||||||||
365 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K043, Class A2 | 3.06 | 12/25/24 | 375 | ||||||||||||
274 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K716, Class A2 | 3.13 | 6/25/21 | 280 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A2 | | 3.31 (US LIBOR) | (a) | 5/25/23 | 190 |
See accompanying notes to financial statements.
159
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$ | 183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K029, Class A2 | 3.32 | 2/25/23 | $ | 190 | ||||||||||
100 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K047, Class A2, | 3.33 | 5/25/25 | 104 | ||||||||||||
112 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K014, Class A2 | 3.87 | 4/25/21 | 117 | ||||||||||||
205 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K012, Class A2 | 4.18 | 12/25/20 | 216 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K006, Class A2 | 4.25 | 1/25/20 | 189 | ||||||||||||
110 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K010, Class A2 | 4.33 | 10/25/20 | 115 | ||||||||||||
230 | GS Mortgage Securities Trust, Series 2016-GS2, Class A3 | 2.79 | 5/10/49 | 226 | ||||||||||||
100 | GS Mortgage Securities Trust, Series 2017-GS5, Class A2 | 3.22 | 3/10/50 | 102 | ||||||||||||
250 | GS Mortgage Securities Trust, Series 2017-GS5, Class A4 | 3.67 | 3/10/50 | 262 | ||||||||||||
97 | GS Mortgage Securities Trust, Series 2014-GC20, Class A3 | 3.68 | 4/10/47 | 99 | ||||||||||||
274 | GS Mortgage Securities Trust, Series 2013-GC14, Class A5 | 4.24 | 8/10/46 | 294 | ||||||||||||
137 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C24, Class A5 | 3.64 | 11/15/47 | 142 | ||||||||||||
183 | JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class A4, | 3.80 | 9/15/47 | 191 | ||||||||||||
183 | JPMBB Commercial Mortgage Securities Trust, Series 2013-C15, Class A5 | 4.13 | 11/15/45 | 195 | ||||||||||||
218 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2012-C8, Class A3 | 2.83 | 10/15/45 | 219 | ||||||||||||
155 | Morgan Stanley BAML Trust, Series 2015-C20, Class A2 | 2.79 | 2/15/48 | 156 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series 2015-C21, Class ASB | 3.15 | 3/15/48 | 102 | ||||||||||||
183 | Morgan Stanley BAML Trust, Series 2015-C20, Class A4 | 3.25 | 2/15/48 | 185 | ||||||||||||
200 | Morgan Stanley BAML Trust, Series 2017-C33, Class A5 | 3.60 | 5/15/50 | 207 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series 2014-C17, Class A5, | 3.74 | 8/15/47 | 104 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series 2014-C15, Class A4 | 4.05 | 4/15/47 | 106 | ||||||||||||
183 | Morgan Stanley Capital I Trust, Series 2016-UBS9, Class A4 | 3.59 | 3/15/49 | 189 | ||||||||||||
200 | Nissan Auto Receivables Owner Trust, Series 2016-A, Class A3, Callable 4/15/20 @ 100.00 | 1.34 | 10/15/20 | 199 | ||||||||||||
100 | SG Commercial Mortgage Securities Trust, Series 2016-C5, Class A4 | 3.06 | 10/10/48 | 99 | ||||||||||||
193 | UBS Commercial Mortgage Trust, Series 2012-C1, Class AAB | 3.00 | 5/10/45 | 196 | ||||||||||||
141 | UBS-Barclays Commercial Mortgage Trust, Series 2012-C2, Class A4 | 3.53 | 5/10/63 | 146 | ||||||||||||
183 | Wells Fargo Commercial Mortgage Trust, Series 2015-C30, Class A4 | 3.66 | 9/15/58 | 190 | ||||||||||||
124 | Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4 | 3.81 | 12/15/48 | 130 | ||||||||||||
169 | Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5 | 3.82 | 8/15/50 | 177 | ||||||||||||
142 | Wells Fargo Commercial Mortgage Trust, Series 2015-C26, Class C | 4.07 | 2/15/48 | 139 | ||||||||||||
183 | WF-RBS Commercial Mortgage Trust, Series 2013-C14, Class ASB | 2.98 | 6/15/46 | 184 | ||||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 10,736 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Mortgages — 87.32% | ||||||||||||||||
57 | Fannie Mae, Pool #AY4232 | 2.00 | 5/1/30 | 55 | ||||||||||||
25 | Fannie Mae, Pool #CA0052 | 2.00 | 7/1/32 | 24 | ||||||||||||
286 | Fannie Mae, Pool #AS1058 | 2.00 | 11/1/28 | 282 | ||||||||||||
62 | Fannie Mae, Pool #AS0001 | 2.00 | 7/1/28 | 61 | ||||||||||||
117 | Fannie Mae, Pool #MA2906 | 2.00 | 2/1/32 | 114 | ||||||||||||
400 | Fannie Mae, Pool #MA3246 | 2.50 | 1/1/33 | 400 | ||||||||||||
128 | Fannie Mae, Pool #AZ6458 | 2.50 | 7/1/30 | 128 | ||||||||||||
249 | Fannie Mae, Pool #AS4946 | 2.50 | 5/1/30 | 250 | ||||||||||||
429 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 431 | ||||||||||||
207 | Fannie Mae, Pool #BE3032 | 2.50 | 1/1/32 | 207 | ||||||||||||
59 | Fannie Mae, Pool #MA1270 | 2.50 | 11/1/32 | 59 | ||||||||||||
472 | Fannie Mae, Pool #MA1210 | 2.50 | 10/1/27 | 475 | ||||||||||||
68 | Fannie Mae, Pool #MA2868 | 2.50 | 1/1/32 | 68 | ||||||||||||
130 | Fannie Mae, Pool #AU6387 | 2.50 | 11/1/28 | 130 | ||||||||||||
49 | Fannie Mae, Pool #MA2888 | 2.50 | 1/1/47 | 47 | ||||||||||||
23 | Fannie Mae, Pool #AS8172 | 2.50 | 10/1/36 | 22 | ||||||||||||
177 | Fannie Mae, Pool #AU5334 | 2.50 | 11/1/28 | 178 | ||||||||||||
384 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 386 |
See accompanying notes to financial statements.
160
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 23 | Fannie Mae, Pool #MA2789 | 2.50 | 10/1/36 | $ | 22 | ||||||||||
254 | Fannie Mae, Pool #AU2619 | 2.50 | 8/1/28 | 255 | ||||||||||||
44 | Fannie Mae, Pool #AS0513 | 2.50 | 8/1/43 | 43 | ||||||||||||
79 | Fannie Mae, Pool #AT2717 | 2.50 | 5/1/43 | 77 | ||||||||||||
137 | Fannie Mae, Pool #AS8246 | 2.50 | 11/1/31 | 137 | ||||||||||||
47 | Fannie Mae, Pool #AS8437 | 2.50 | 12/1/36 | 46 | ||||||||||||
359 | Fannie Mae, Pool #AO3019 | 2.50 | 5/1/27 | 360 | ||||||||||||
28 | Fannie Mae, Pool #MA1511 | 2.50 | 7/1/33 | 28 | ||||||||||||
87 | Fannie Mae, Pool #AS4660 | 2.50 | 3/1/30 | 87 | ||||||||||||
198 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 192 | ||||||||||||
207 | Fannie Mae, Pool #BC9041 | 2.50 | 11/1/31 | 207 | ||||||||||||
581 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 584 | ||||||||||||
140 | Fannie Mae, Pool #MA2425 | 3.00 | 10/1/30 | 143 | ||||||||||||
170 | Fannie Mae, Pool #AQ3223 | 3.00 | 11/1/27 | 174 | ||||||||||||
678 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 682 | ||||||||||||
1,012 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 1,017 | ||||||||||||
134 | Fannie Mae, Pool #MA2523 | 3.00 | 2/1/36 | 137 | ||||||||||||
217 | Fannie Mae, Pool #AS1527 | 3.00 | 1/1/29 | 221 | ||||||||||||
132 | Fannie Mae, Pool #MA2230 | 3.00 | 4/1/35 | 135 | ||||||||||||
304 | Fannie Mae, Pool #MA2246 | 3.00 | 4/1/30 | 310 | ||||||||||||
1,290 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 1,296 | ||||||||||||
286 | Fannie Mae, Pool #MA2895 | 3.00 | 2/1/47 | 286 | ||||||||||||
47 | Fannie Mae, Pool #MA2897 | 3.00 | 2/1/37 | 48 | ||||||||||||
77 | Fannie Mae, Pool #MA2579 | 3.00 | 4/1/36 | 79 | ||||||||||||
24 | Fannie Mae, Pool #AL9848 | 3.00 | 3/1/47 | 24 | ||||||||||||
350 | Fannie Mae, Pool #AS0196 | 3.00 | 8/1/28 | 357 | ||||||||||||
46 | Fannie Mae, Pool #AR7426 | 3.00 | 7/1/43 | 46 | ||||||||||||
36 | Fannie Mae, Pool #MA2287 | 3.00 | 6/1/35 | 37 | ||||||||||||
155 | Fannie Mae, Pool #MA1527 | 3.00 | 8/1/33 | 158 | ||||||||||||
156 | Fannie Mae, Pool #MA1401 | 3.00 | 4/1/33 | 160 | ||||||||||||
79 | Fannie Mae, Pool #MA1338 | 3.00 | 2/1/33 | 81 | ||||||||||||
266 | Fannie Mae, Pool #MA2737 | 3.00 | 9/1/46 | 266 | ||||||||||||
383 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 392 | ||||||||||||
120 | Fannie Mae, Pool #MA2149 | 3.00 | 1/1/30 | 122 | ||||||||||||
48 | Fannie Mae, Pool #MA3078 | 3.00 | 7/1/37 | 49 | ||||||||||||
53 | Fannie Mae, Pool #MA2087 | 3.00 | 11/1/34 | 54 | ||||||||||||
394 | Fannie Mae, Pool #MA3082 | 3.00 | 7/1/47 | 394 | ||||||||||||
43 | Fannie Mae, Pool #MA1058 | 3.00 | 5/1/32 | 44 | ||||||||||||
263 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 269 | ||||||||||||
1,342 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 1,349 | ||||||||||||
375 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 384 | ||||||||||||
362 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 364 | ||||||||||||
349 | Fannie Mae, Pool #AK3302 | 3.00 | 3/1/27 | 356 | ||||||||||||
761 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 765 | ||||||||||||
417 | Fannie Mae, Pool #MA3106 | 3.00 | 8/1/47 | 417 | ||||||||||||
71 | Fannie Mae, Pool #AS4334 | 3.00 | 1/1/45 | 71 | ||||||||||||
37 | Fannie Mae, Pool #MA2065 | 3.00 | 10/1/34 | 38 | ||||||||||||
50 | Fannie Mae, Pool #MA3218 | 3.00 | 12/1/32 | 51 | ||||||||||||
333 | Fannie Mae, Pool #AS4333 | 3.00 | 1/1/45 | 334 | ||||||||||||
103 | Fannie Mae, Pool #AS3117 | 3.00 | 8/1/29 | 105 | ||||||||||||
132 | Fannie Mae, Pool #AS2312 | 3.00 | 5/1/29 | 135 | ||||||||||||
47 | Fannie Mae, Pool #MA2961 | 3.00 | 4/1/37 | 48 | ||||||||||||
326 | Fannie Mae, Pool #MA3662 | 3.00 | 5/20/46 | 329 | ||||||||||||
382 | Fannie Mae, Pool #MA2956 | 3.00 | 4/1/47 | 383 |
See accompanying notes to financial statements.
161
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 96 | Fannie Mae, Pool #BE3861 | 3.00 | 1/1/47 | $ | 96 | ||||||||||
212 | Fannie Mae, Pool #AY4200 | 3.00 | 5/1/45 | 212 | ||||||||||||
297 | Fannie Mae, Pool #BD4225 | 3.00 | 11/1/46 | 297 | ||||||||||||
155 | Fannie Mae, Pool #AZ0538 | 3.00 | 9/1/30 | 159 | ||||||||||||
263 | Fannie Mae, Pool #AS8784 | 3.00 | 2/1/47 | 263 | ||||||||||||
92 | Fannie Mae, Pool #AS8424 | 3.00 | 12/1/36 | 94 | ||||||||||||
313 | Fannie Mae, Pool #AY4829 | 3.00 | 5/1/45 | 313 | ||||||||||||
71 | Fannie Mae, Pool #BM1370 | 3.00 | 4/1/37 | 72 | ||||||||||||
180 | Fannie Mae, Pool #AS7908 | 3.00 | 9/1/46 | 180 | ||||||||||||
91 | Fannie Mae, Pool #AW8295 | 3.00 | 8/1/29 | 93 | ||||||||||||
187 | Fannie Mae, Pool #AW7383 | 3.00 | 8/1/29 | 191 | ||||||||||||
358 | Fannie Mae, Pool #BD5787 | 3.00 | 9/1/46 | 359 | ||||||||||||
282 | Fannie Mae, Pool #AS7238 | 3.00 | 5/1/46 | 282 | ||||||||||||
218 | Fannie Mae, Pool #BD5545 | 3.00 | 10/1/46 | 218 | ||||||||||||
329 | Fannie Mae, Pool #BC9003 | 3.00 | 11/1/46 | 330 | ||||||||||||
91 | Fannie Mae, Pool #BE4400 | 3.00 | 1/1/47 | 91 | ||||||||||||
55 | Fannie Mae, Pool #AZ4358 | 3.00 | 7/1/30 | 56 | ||||||||||||
92 | Fannie Mae, Pool #AS8438 | 3.00 | 12/1/36 | 93 | ||||||||||||
300 | Fannie Mae, Pool #AS4884 | 3.00 | 5/1/45 | 300 | ||||||||||||
204 | Fannie Mae, Pool #AS8521 | 3.00 | 12/1/46 | 204 | ||||||||||||
48 | Fannie Mae, Pool #AS8056 | 3.00 | 10/1/46 | 48 | ||||||||||||
96 | Fannie Mae, Pool #AS8483 | 3.00 | 12/1/46 | 96 | ||||||||||||
322 | Fannie Mae, Pool #AT7620 | 3.00 | 6/1/43 | 324 | ||||||||||||
107 | Fannie Mae, Pool #AU7890 | 3.00 | 9/1/28 | 109 | ||||||||||||
281 | Fannie Mae, Pool #MA2833 | 3.00 | 12/1/46 | 281 | ||||||||||||
130 | Fannie Mae, Pool #J24886 | 3.00 | 7/1/23 | 133 | ||||||||||||
16 | Fannie Mae, Pool #BA0826 | 3.00 | 10/1/30 | 16 | ||||||||||||
338 | Fannie Mae, Pool #AT2014 | 3.00 | 4/1/43 | 340 | ||||||||||||
49 | Fannie Mae, Pool #BE9547 | 3.00 | 4/1/47 | 49 | ||||||||||||
60 | Fannie Mae, Pool #AT1575 | 3.00 | 5/1/43 | 60 | ||||||||||||
362 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 364 | ||||||||||||
372 | Fannie Mae, Pool #MA2806 | 3.00 | 11/1/46 | 372 | ||||||||||||
327 | Fannie Mae, Pool #BC4764 | 3.00 | 10/1/46 | 328 | ||||||||||||
325 | Fannie Mae, Pool #AS8276 | 3.00 | 11/1/46 | 325 | ||||||||||||
61 | Fannie Mae, Pool #BA4786 | 3.00 | 2/1/31 | 62 | ||||||||||||
33 | Fannie Mae, Pool #AX8309 | 3.00 | 11/1/29 | 33 | ||||||||||||
69 | Fannie Mae, Pool #MA2832 | 3.00 | 12/1/36 | 70 | ||||||||||||
247 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | 249 | ||||||||||||
284 | Fannie Mae, Pool #MA2863 | 3.00 | 1/1/47 | 284 | ||||||||||||
86 | Fannie Mae, Pool #BC4276 | 3.00 | 4/1/46 | 86 | ||||||||||||
1,156 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 1,195 | ||||||||||||
42 | Fannie Mae, Pool #MA2692 | 3.50 | 7/1/36 | 43 | ||||||||||||
252 | Fannie Mae, Pool #MA1980 | 3.50 | 8/1/44 | 259 | ||||||||||||
47 | Fannie Mae, Pool #BM1231 | 3.50 | 11/1/31 | 49 | ||||||||||||
148 | Fannie Mae, Pool #BE5258 | 3.50 | 1/1/47 | 152 | ||||||||||||
162 | Fannie Mae, Pool #BM2001 | 3.50 | 12/1/46 | 167 | ||||||||||||
246 | Fannie Mae, Pool #MA1982 | 3.50 | 8/1/34 | 257 | ||||||||||||
284 | Fannie Mae, Pool #MA2125 | 3.50 | 12/1/44 | 292 | ||||||||||||
102 | Fannie Mae, Pool #MA2389 | 3.50 | 9/1/35 | 106 | ||||||||||||
333 | Fannie Mae, Pool #MA2292 | 3.50 | 6/1/45 | 342 | ||||||||||||
244 | Fannie Mae, Pool #AY5303 | 3.50 | 3/1/45 | 252 | ||||||||||||
123 | Fannie Mae, Pool #BC0163 | 3.50 | 1/1/46 | 127 | ||||||||||||
137 | Fannie Mae, Pool #AE5487 | 3.50 | 10/1/25 | 142 | ||||||||||||
191 | Fannie Mae, Pool #AY3913 | 3.50 | 2/1/45 | 197 |
See accompanying notes to financial statements.
162
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 90 | Fannie Mae, Pool #AY8856 | 3.50 | 9/1/45 | $ | 93 | ||||||||||
36 | Fannie Mae, Pool #BA5031 | 3.50 | 1/1/46 | 37 | ||||||||||||
115 | Fannie Mae, Pool #MA2923 | 3.50 | 3/1/37 | 119 | ||||||||||||
232 | Fannie Mae, Pool #AZ9576 | 3.50 | 12/1/45 | 238 | ||||||||||||
109 | Fannie Mae, Pool #BA1893 | 3.50 | 8/1/45 | 112 | ||||||||||||
166 | Fannie Mae, Pool #BC3126 | 3.50 | 1/1/46 | 170 | ||||||||||||
57 | Fannie Mae, Pool #MA2495 | 3.50 | 1/1/46 | 59 | ||||||||||||
29 | Fannie Mae, Pool #MA1021 | 3.50 | 3/1/27 | 29 | ||||||||||||
215 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 224 | ||||||||||||
273 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 285 | ||||||||||||
351 | Fannie Mae, Pool #BD5046 | 3.50 | 2/1/47 | 360 | ||||||||||||
86 | Fannie Mae, Pool #BC7633 | 3.50 | 6/1/46 | 89 | ||||||||||||
122 | Fannie Mae, Pool #AZ6383 | 3.50 | 9/1/45 | 125 | ||||||||||||
267 | Fannie Mae, Pool #AY4300 | 3.50 | 1/1/45 | 274 | ||||||||||||
23 | Fannie Mae, Pool #MA2909 | 3.50 | 2/1/37 | 24 | ||||||||||||
336 | Fannie Mae, Pool #AZ0862 | 3.50 | 7/1/45 | 345 | ||||||||||||
48 | Fannie Mae, Pool #MA3059 | 3.50 | 7/1/37 | 50 | ||||||||||||
174 | Fannie Mae, Pool #AZ2614 | 3.50 | 8/1/45 | 179 | ||||||||||||
174 | Fannie Mae, Pool #AU3742 | 3.50 | 8/1/43 | 180 | ||||||||||||
57 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 59 | ||||||||||||
485 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 501 | ||||||||||||
47 | Fannie Mae, Pool #AV6407 | 3.50 | 2/1/29 | 49 | ||||||||||||
116 | Fannie Mae, Pool #AX7655 | 3.50 | 1/1/45 | 119 | ||||||||||||
270 | Fannie Mae, Pool #AX9530 | 3.50 | 2/1/45 | 278 | ||||||||||||
361 | Fannie Mae, Pool #AU1635 | 3.50 | 7/1/43 | 372 | ||||||||||||
268 | Fannie Mae, Pool #AJ8476 | 3.50 | 12/1/41 | 277 | ||||||||||||
1,239 | Fannie Mae, Pool #AK7497 | 3.50 | 4/1/42 | 1,279 | ||||||||||||
63 | Fannie Mae, Pool #AK0706 | 3.50 | 2/1/27 | 65 | ||||||||||||
148 | Fannie Mae, Pool #AO9140 | 3.50 | 7/1/42 | 153 | ||||||||||||
155 | Fannie Mae, Pool #AS5319 | 3.50 | 7/1/45 | 159 | ||||||||||||
313 | Fannie Mae, Pool #AS3133 | 3.50 | 8/1/44 | 323 | ||||||||||||
38 | Fannie Mae, Pool #AS2081 | 3.50 | 4/1/29 | 39 | ||||||||||||
305 | Fannie Mae, Pool #AY1306 | 3.50 | 3/1/45 | 313 | ||||||||||||
291 | Fannie Mae, Pool #AS4771 | 3.50 | 4/1/45 | 299 | ||||||||||||
84 | Fannie Mae, Pool #310139 | 3.50 | 11/1/25 | 87 | ||||||||||||
293 | Fannie Mae, Pool #AS4773 | 3.50 | 4/1/45 | 301 | ||||||||||||
148 | Fannie Mae, Pool #AS4772 | 3.50 | 4/1/45 | 152 | ||||||||||||
332 | Fannie Mae, Pool #AS7388 | 3.50 | 6/1/46 | 341 | ||||||||||||
266 | Fannie Mae, Pool #AS7239 | 3.50 | 5/1/46 | 273 | ||||||||||||
392 | Fannie Mae, Pool #AS7491 | 3.50 | 7/1/46 | 403 | ||||||||||||
229 | Fannie Mae, Pool #AX2486 | 3.50 | 10/1/44 | 235 | ||||||||||||
23 | Fannie Mae, Pool #AX0159 | 3.50 | 9/1/29 | 24 | ||||||||||||
146 | Fannie Mae, Pool #AX5201 | 3.50 | 10/1/29 | 151 | ||||||||||||
247 | Fannie Mae, Pool #AS5068 | 3.50 | 6/1/45 | 254 | ||||||||||||
247 | Fannie Mae, Pool #AS6649 | 3.50 | 2/1/46 | 254 | ||||||||||||
116 | Fannie Mae, Pool #AS5892 | 3.50 | 10/1/45 | 119 | ||||||||||||
189 | Fannie Mae, Pool #AS5696 | 3.50 | 8/1/45 | 194 | ||||||||||||
22 | Fannie Mae, Pool #AJ6181 | 3.50 | 12/1/26 | 23 | ||||||||||||
461 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 477 | ||||||||||||
197 | Fannie Mae, Pool #AY3802 | 3.50 | 2/1/45 | 202 | ||||||||||||
1,105 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 1,141 | ||||||||||||
1,219 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 1,258 | ||||||||||||
161 | Fannie Mae, Pool #AJ4093 | 3.50 | 10/1/26 | 166 | ||||||||||||
142 | Fannie Mae, Pool #AO4647 | 3.50 | 6/1/42 | 147 |
See accompanying notes to financial statements.
163
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 228 | Fannie Mae, Pool #AO4385 | 3.50 | 6/1/42 | $ | 236 | ||||||||||
432 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 447 | ||||||||||||
22 | Fannie Mae, Pool #AL8776 | 3.50 | 7/1/46 | 23 | ||||||||||||
180 | Fannie Mae, Pool #AV2340 | 4.00 | 12/1/43 | 189 | ||||||||||||
16 | Fannie Mae, Pool #AZ8874 | 4.00 | 9/1/45 | 17 | ||||||||||||
168 | Fannie Mae, Pool #AZ8067 | 4.00 | 9/1/45 | 176 | ||||||||||||
242 | Fannie Mae, Pool #AZ7362 | 4.00 | 11/1/45 | 253 | ||||||||||||
95 | Fannie Mae, Pool #BA0847 | 4.00 | 3/1/46 | 99 | ||||||||||||
317 | Fannie Mae, Pool #AU3753 | 4.00 | 8/1/43 | 333 | ||||||||||||
139 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 146 | ||||||||||||
1,019 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 1,067 | ||||||||||||
78 | Fannie Mae, Pool #G08694 | 4.00 | 2/1/46 | 81 | ||||||||||||
44 | Fannie Mae, Pool #AH3394 | 4.00 | 1/1/41 | 46 | ||||||||||||
380 | Fannie Mae, Pool #BM2002 | 4.00 | 10/1/47 | 398 | ||||||||||||
276 | Fannie Mae, Pool #AL8387 | 4.00 | 3/1/46 | 289 | ||||||||||||
60 | Fannie Mae, Pool #AT3872 | 4.00 | 6/1/43 | 63 | ||||||||||||
29 | Fannie Mae, Pool #AW9041 | 4.00 | 8/1/44 | 30 | ||||||||||||
121 | Fannie Mae, Pool #AY8981 | 4.00 | 8/1/45 | 127 | ||||||||||||
58 | Fannie Mae, Pool #AW5109 | 4.00 | 8/1/44 | 61 | ||||||||||||
38 | Fannie Mae, Pool #AS7028 | 4.00 | 4/1/46 | 40 | ||||||||||||
295 | Fannie Mae, Pool #AS9486 | 4.00 | 4/1/47 | 308 | ||||||||||||
222 | Fannie Mae, Pool #AX0841 | 4.00 | 9/1/44 | 232 | ||||||||||||
234 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 246 | ||||||||||||
112 | Fannie Mae, Pool #BC5559 | 4.00 | 3/1/46 | 117 | ||||||||||||
102 | Fannie Mae, Pool #AY0025 | 4.00 | 2/1/45 | 107 | ||||||||||||
192 | Fannie Mae, Pool #AY1377 | 4.00 | 4/1/45 | 202 | ||||||||||||
294 | Fannie Mae, Pool #BA6910 | 4.00 | 2/1/46 | 308 | ||||||||||||
231 | Fannie Mae, Pool #AY1595 | 4.00 | 1/1/45 | 242 | ||||||||||||
1,233 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 1,295 | ||||||||||||
166 | Fannie Mae, Pool #AL7347 | 4.00 | 9/1/45 | 174 | ||||||||||||
34 | Fannie Mae, Pool #AS2117 | 4.00 | 4/1/44 | 36 | ||||||||||||
20 | Fannie Mae, Pool #MA2655 | 4.00 | 6/1/36 | 21 | ||||||||||||
194 | Fannie Mae, Pool #AW5063 | 4.00 | 7/1/44 | 203 | ||||||||||||
169 | Fannie Mae, Pool #AS3903 | 4.00 | 11/1/44 | 177 | ||||||||||||
342 | Fannie Mae, Pool #MA3121 | 4.00 | 9/1/47 | 359 | ||||||||||||
601 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 631 | ||||||||||||
43 | Fannie Mae, Pool #MA0695 | 4.00 | 4/1/31 | 45 | ||||||||||||
368 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 387 | ||||||||||||
654 | Fannie Mae, Pool #AJ7689 | 4.00 | 12/1/41 | 687 | ||||||||||||
510 | Fannie Mae, Pool #AJ7857 | 4.00 | 12/1/41 | 536 | ||||||||||||
24 | Fannie Mae, Pool #MA3037 | 4.00 | 6/1/37 | 25 | ||||||||||||
155 | Fannie Mae, Pool #AS3468 | 4.00 | 10/1/44 | 163 | ||||||||||||
396 | Fannie Mae, Pool #MA3027 | 4.00 | 6/1/47 | 415 | ||||||||||||
197 | Fannie Mae, Pool #AS2498 | 4.00 | 5/1/44 | 206 | ||||||||||||
226 | Fannie Mae, Pool #AS3216 | 4.00 | 9/1/44 | 236 | ||||||||||||
396 | Fannie Mae, Pool #AS9831 | 4.00 | 6/1/47 | 415 | ||||||||||||
274 | Fannie Mae, Pool #AS8532 | 4.00 | 12/1/46 | 287 | ||||||||||||
52 | Fannie Mae, Pool #MA2455 | 4.00 | 11/1/35 | 55 | ||||||||||||
18 | Fannie Mae, Pool #MA2536 | 4.00 | 2/1/36 | 19 | ||||||||||||
47 | Fannie Mae, Pool #AS3448 | 4.00 | 9/1/44 | 49 | ||||||||||||
238 | Fannie Mae, Pool #AS3467 | 4.00 | 10/1/44 | 250 | ||||||||||||
236 | Fannie Mae, Pool #MA0641 | 4.00 | 2/1/31 | 248 | ||||||||||||
233 | Fannie Mae, Pool #AS3293 | 4.00 | 9/1/44 | 244 | ||||||||||||
518 | Fannie Mae, Pool #AS0531 | 4.00 | 9/1/43 | 547 |
See accompanying notes to financial statements.
164
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 44 | Fannie Mae, Pool #AY2291 | 4.00 | 3/1/45 | $ | 47 | ||||||||||
79 | Fannie Mae, Pool #MA0493 | 4.00 | 8/1/30 | 83 | ||||||||||||
42 | Fannie Mae, Pool #AB1470 | 4.50 | 9/1/40 | 45 | ||||||||||||
583 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 625 | ||||||||||||
229 | Fannie Mae, Pool #BE6489 | 4.50 | 1/1/47 | 244 | ||||||||||||
200 | Fannie Mae, Pool #AS8157 | 4.50 | 10/1/46 | 213 | ||||||||||||
183 | Fannie Mae, Pool #AL4450 | 4.50 | 12/1/43 | 195 | ||||||||||||
162 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 172 | ||||||||||||
1 | Fannie Mae, Pool #AB0339 | 4.50 | 1/1/20 | 1 | ||||||||||||
216 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 232 | ||||||||||||
91 | Fannie Mae, Pool #BM1285 | 4.50 | 5/1/47 | 97 | ||||||||||||
1 | Fannie Mae, Pool #254720 | 4.50 | 5/1/18 | 1 | ||||||||||||
3 | Fannie Mae, Pool #310112 | 4.50 | 6/1/19 | 4 | ||||||||||||
45 | Fannie Mae, Pool #AS8576 | 4.50 | 12/1/46 | 47 | ||||||||||||
185 | Fannie Mae, Pool #BE5992 | 4.50 | 2/1/47 | 197 | ||||||||||||
105 | Fannie Mae, Pool #AB1389 | 4.50 | 8/1/40 | 112 | ||||||||||||
43 | Fannie Mae, Pool #982892 | 4.50 | 5/1/23 | 46 | ||||||||||||
33 | Fannie Mae, Pool #AA0860 | 4.50 | 1/1/39 | 35 | ||||||||||||
43 | Fannie Mae, Pool #AH6790 | 4.50 | 3/1/41 | 47 | ||||||||||||
245 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 263 | ||||||||||||
114 | Fannie Mae, Pool #AS2276 | 4.50 | 4/1/44 | 121 | ||||||||||||
16 | Fannie Mae, Pool #AW7048 | 4.50 | 6/1/44 | 17 | ||||||||||||
532 | Fannie Mae, Pool #AH9055 | 4.50 | 4/1/41 | 570 | ||||||||||||
63 | Fannie Mae, Pool #AS0861 | 4.50 | 10/1/43 | 67 | ||||||||||||
234 | Fannie Mae, Pool #AD8529 | 4.50 | 8/1/40 | 251 | ||||||||||||
52 | Fannie Mae, Pool #AU5302 | 4.50 | 10/1/43 | 56 | ||||||||||||
230 | Fannie Mae, Pool #AI4815 | 4.50 | 6/1/41 | 247 | ||||||||||||
138 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 147 | ||||||||||||
100 | Fannie Mae, Pool #AL5082 | 4.50 | 3/1/44 | 107 | ||||||||||||
627 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 672 | ||||||||||||
48 | Fannie Mae, Pool #AL8816 | 4.50 | 9/1/45 | 51 | ||||||||||||
104 | Fannie Mae, Pool #AS1638 | 4.50 | 2/1/44 | 111 | ||||||||||||
47 | Fannie Mae, Pool #890621 | 5.00 | 5/1/42 | 50 | ||||||||||||
44 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 47 | ||||||||||||
101 | Fannie Mae, Pool #AS0575 | 5.00 | 9/1/43 | 109 | ||||||||||||
100 | Fannie Mae, Pool #836750 | 5.00 | 10/1/35 | 108 | ||||||||||||
98 | Fannie Mae, Pool #AS0837 | 5.00 | 10/1/43 | 105 | ||||||||||||
93 | Fannie Mae, Pool #AL5788 | 5.00 | 5/1/42 | 100 | ||||||||||||
9 | Fannie Mae, Pool #725504 | 5.00 | 1/1/19 | 9 | ||||||||||||
190 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 205 | ||||||||||||
49 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | �� | 53 | |||||||||||
2 | Fannie Mae, Pool #868986 | 5.00 | 5/1/21 | 2 | ||||||||||||
896 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 973 | ||||||||||||
38 | Fannie Mae, Pool #796663 | 5.00 | 9/1/19 | 39 | ||||||||||||
6 | Fannie Mae, Pool #AL0725 | 5.50 | 6/1/24 | 7 | ||||||||||||
22 | Fannie Mae, Pool #929451 | 5.50 | 5/1/38 | 25 | ||||||||||||
50 | Fannie Mae, Pool #976945 | 5.50 | 2/1/23 | 52 | ||||||||||||
23 | Fannie Mae, Pool #909662 | 5.50 | 2/1/22 | 24 | ||||||||||||
5 | Fannie Mae, Pool #A69671 | 5.50 | 12/1/37 | 5 | ||||||||||||
1 | Fannie Mae, Pool #A79636 | 5.50 | 7/1/38 | 1 | ||||||||||||
1,385 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 1,535 | ||||||||||||
821 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 934 | ||||||||||||
197 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 222 | ||||||||||||
925 | Fannie Mae, 15 YR TBA | 2.50 | 1/25/32 | 924 |
See accompanying notes to financial statements.
165
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 800 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/32 | $ | 815 | ||||||||||
75 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/32 | 77 | ||||||||||||
50 | Fannie Mae, 15 YR TBA | 3.50 | 2/25/33 | 52 | ||||||||||||
50 | Fannie Mae, 30 YR TBA | 3.00 | 1/25/48 | 50 | ||||||||||||
200 | Fannie Mae, 30 YR TBA | 3.00 | 2/25/48 | 200 | ||||||||||||
3,775 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/48 | 3,877 | ||||||||||||
400 | Fannie Mae, 30 YR TBA | 4.00 | 2/25/48 | 418 | ||||||||||||
1,075 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/46 | 1,125 | ||||||||||||
61 | Freddie Mac, Pool #J25759 | 2.00 | 8/1/28 | 60 | ||||||||||||
146 | Freddie Mac, Pool #J25777 | 2.00 | 9/1/28 | 143 | ||||||||||||
71 | Freddie Mac, Pool #G18547 | 2.00 | 3/1/30 | 70 | ||||||||||||
110 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 111 | ||||||||||||
48 | Freddie Mac, Pool #Q42878 | 2.50 | 9/1/46 | 47 | ||||||||||||
80 | Freddie Mac, Pool #C09026 | 2.50 | 2/1/43 | 77 | ||||||||||||
38 | Freddie Mac, Pool #G18472 | 2.50 | 7/1/28 | 38 | ||||||||||||
249 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 250 | ||||||||||||
251 | Freddie Mac, Pool #G18568 | 2.50 | 9/1/30 | 251 | ||||||||||||
185 | Freddie Mac, Pool #G18635 | 2.50 | 3/1/32 | 185 | ||||||||||||
223 | Freddie Mac, Pool #J23440 | 2.50 | 4/1/28 | 224 | ||||||||||||
211 | Freddie Mac, Pool #G18533 | 2.50 | 12/1/29 | 211 | ||||||||||||
85 | Freddie Mac, Pool #J25585 | 2.50 | 9/1/28 | 85 | ||||||||||||
25 | Freddie Mac, Pool #G08755 | 2.50 | 2/1/47 | 24 | ||||||||||||
227 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 228 | ||||||||||||
18 | Freddie Mac, Pool #J30875 | 2.50 | 3/1/30 | 18 | ||||||||||||
141 | Freddie Mac, Pool #J36516 | 2.50 | 3/1/32 | 141 | ||||||||||||
46 | Freddie Mac, Pool #C91904 | 2.50 | 11/1/36 | 46 | ||||||||||||
298 | Freddie Mac, Pool #J26408 | 2.50 | 11/1/28 | 300 | ||||||||||||
131 | Freddie Mac, Pool #J35643 | 2.50 | 11/1/31 | 131 | ||||||||||||
234 | Freddie Mac, Pool #J18954 | 2.50 | 4/1/27 | 235 | ||||||||||||
181 | Freddie Mac, Pool #J35896 | 2.50 | 12/1/31 | 181 | ||||||||||||
91 | Freddie Mac, Pool #C91798 | 3.00 | 12/1/34 | 93 | ||||||||||||
16 | Freddie Mac, Pool #C91809 | 3.00 | 2/1/35 | 16 | ||||||||||||
69 | Freddie Mac, Pool #G08540 | 3.00 | 8/1/43 | 70 | ||||||||||||
170 | Freddie Mac, Pool #C91724 | 3.00 | 9/1/33 | 174 | ||||||||||||
25 | Freddie Mac, Pool #C91949 | 3.00 | 9/1/37 | 25 | ||||||||||||
69 | Freddie Mac, Pool #Q19754 | 3.00 | 7/1/43 | 69 | ||||||||||||
48 | Freddie Mac, Pool #C91943 | 3.00 | 7/1/37 | 49 | ||||||||||||
47 | Freddie Mac, Pool #C91924 | 3.00 | 4/1/37 | 48 | ||||||||||||
46 | Freddie Mac, Pool #C91905 | 3.00 | 11/1/36 | 47 | ||||||||||||
59 | Freddie Mac, Pool #J33135 | 3.00 | 11/1/30 | 60 | ||||||||||||
54 | Freddie Mac, Pool #J29932 | 3.00 | 11/1/29 | 55 | ||||||||||||
536 | Freddie Mac, Pool #G08534 | 3.00 | 6/1/43 | 539 | ||||||||||||
20 | Freddie Mac, Pool #Q18882 | 3.00 | 5/1/43 | 20 | ||||||||||||
15 | Freddie Mac, Pool #Q13086 | 3.00 | 11/1/42 | 15 | ||||||||||||
23 | Freddie Mac, Pool #G30999 | 3.00 | 2/1/37 | 24 | ||||||||||||
66 | Freddie Mac, Pool #G30945 | 3.00 | 9/1/36 | 67 | ||||||||||||
349 | Freddie Mac, Pool #Q16222 | 3.00 | 3/1/43 | 351 | ||||||||||||
57 | Freddie Mac, Pool #Q18599 | 3.00 | 6/1/43 | 57 | ||||||||||||
294 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 295 | ||||||||||||
366 | Freddie Mac, Pool #G08635 | 3.00 | 4/1/45 | 366 | ||||||||||||
331 | Freddie Mac, Pool #G60187 | 3.00 | 8/1/45 | 331 | ||||||||||||
187 | Freddie Mac, Pool #Q20067 | 3.00 | 7/1/43 | 188 | ||||||||||||
580 | Freddie Mac, Pool #Q21065 | 3.00 | 8/1/43 | 582 | ||||||||||||
369 | Freddie Mac, Pool #G60989 | 3.00 | 12/1/46 | 370 |
See accompanying notes to financial statements.
166
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 236 | Freddie Mac, Pool #Q41795 | 3.00 | 7/1/46 | $ | 237 | ||||||||||
288 | Freddie Mac, Pool #Q44452 | 3.00 | 11/1/46 | 289 | ||||||||||||
97 | Freddie Mac, Pool #Q45094 | 3.00 | 12/1/46 | 97 | ||||||||||||
24 | Freddie Mac, Pool #Q39527 | 3.00 | 3/1/46 | 24 | ||||||||||||
400 | Freddie Mac, Pool #J17774 | 3.00 | 1/1/27 | 408 | ||||||||||||
18 | Freddie Mac, Pool #J17111 | 3.00 | 10/1/26 | 19 | ||||||||||||
126 | Freddie Mac, Pool #G08648 | 3.00 | 6/1/45 | 127 | ||||||||||||
155 | Freddie Mac, Pool #G08640 | 3.00 | 5/1/45 | 155 | ||||||||||||
400 | Freddie Mac, Pool #G08653 | 3.00 | 7/1/45 | 401 | ||||||||||||
56 | Freddie Mac, Pool #G18534 | 3.00 | 12/1/29 | 57 | ||||||||||||
200 | Freddie Mac, Pool #G18531 | 3.00 | 11/1/29 | 203 | ||||||||||||
191 | Freddie Mac, Pool #G08750 | 3.00 | 3/1/47 | 191 | ||||||||||||
185 | Freddie Mac, Pool #G18569 | 3.00 | 9/1/30 | 188 | ||||||||||||
300 | Freddie Mac, Pool #C04619 | 3.00 | 3/1/43 | 302 | ||||||||||||
141 | Freddie Mac, Pool #G08680 | 3.00 | 12/1/45 | 141 | ||||||||||||
206 | Freddie Mac, Pool #C04422 | 3.00 | 12/1/42 | 207 | ||||||||||||
278 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 279 | ||||||||||||
521 | Freddie Mac, Pool #G08741 | 3.00 | 1/1/47 | 522 | ||||||||||||
185 | Freddie Mac, Pool #G08732 | 3.00 | 11/1/46 | 186 | ||||||||||||
38 | Freddie Mac, Pool #J14241 | 3.00 | 1/1/26 | 39 | ||||||||||||
96 | Freddie Mac, Pool #G08747 | 3.00 | 2/1/47 | 96 | ||||||||||||
280 | Freddie Mac, Pool #G08737 | 3.00 | 12/1/46 | 281 | ||||||||||||
36 | Freddie Mac, Pool #C91826 | 3.00 | 5/1/35 | 36 | ||||||||||||
119 | Freddie Mac, Pool #C91819 | 3.00 | 4/1/35 | 121 | ||||||||||||
264 | Freddie Mac, Pool #G15217 | 3.00 | 11/1/29 | 269 | ||||||||||||
241 | Freddie Mac, Pool #C91581 | 3.00 | 11/1/32 | 246 | ||||||||||||
289 | Freddie Mac, Pool #G18514 | 3.00 | 6/1/29 | 294 | ||||||||||||
235 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 240 | ||||||||||||
233 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 238 | ||||||||||||
126 | Freddie Mac, Pool #C91707 | 3.00 | 6/1/33 | 128 | ||||||||||||
1,186 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 1,192 | ||||||||||||
106 | Freddie Mac, Pool #G18582 | 3.00 | 1/1/31 | 108 | ||||||||||||
70 | Freddie Mac, Pool #G18575 | 3.00 | 11/1/30 | 71 | ||||||||||||
138 | Freddie Mac, Pool #J26144 | 3.50 | 10/1/23 | 142 | ||||||||||||
181 | Freddie Mac, Pool #C91403 | 3.50 | 3/1/32 | 189 | ||||||||||||
133 | Freddie Mac, Pool #Q36040 | 3.50 | 9/1/45 | 137 | ||||||||||||
19 | Freddie Mac, Pool #C91760 | 3.50 | 5/1/34 | 19 | ||||||||||||
183 | Freddie Mac, Pool #G08687 | 3.50 | 1/1/46 | 189 | ||||||||||||
199 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 208 | ||||||||||||
70 | Freddie Mac, Pool #J27494 | 3.50 | 2/1/29 | 73 | ||||||||||||
125 | Freddie Mac, Pool #J13582 | 3.50 | 11/1/25 | 129 | ||||||||||||
19 | Freddie Mac, Pool #E02735 | 3.50 | 10/1/25 | 20 | ||||||||||||
202 | Freddie Mac, Pool #Q37449 | 3.50 | 11/1/45 | 208 | ||||||||||||
416 | Freddie Mac, Pool #Q49490 | 3.50 | 7/1/47 | 428 | ||||||||||||
393 | Freddie Mac, Pool #G61148 | 3.50 | 9/1/47 | 404 | ||||||||||||
296 | Freddie Mac, Pool #Q20860 | 3.50 | 8/1/43 | 306 | ||||||||||||
46 | Freddie Mac, Pool #J14232 | 3.50 | 1/1/21 | 47 | ||||||||||||
70 | Freddie Mac, Pool #C03920 | 3.50 | 5/1/42 | 73 | ||||||||||||
247 | Freddie Mac, Pool #J15105 | 3.50 | 4/1/26 | 256 | ||||||||||||
73 | Freddie Mac, Pool #Q31134 | 3.50 | 2/1/45 | 75 | ||||||||||||
48 | Freddie Mac, Pool #C91940 | 3.50 | 6/1/37 | 49 | ||||||||||||
139 | Freddie Mac, Pool #Q04087 | 3.50 | 10/1/41 | 143 | ||||||||||||
391 | Freddie Mac, Pool #G08693 | 3.50 | 3/1/46 | 403 | ||||||||||||
538 | Freddie Mac, Pool #G08636 | 3.50 | 4/1/45 | 554 |
See accompanying notes to financial statements.
167
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 75 | Freddie Mac, Pool #G14216 | 3.50 | 7/1/21 | $ | 78 | ||||||||||
1,019 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 1,052 | ||||||||||||
312 | Freddie Mac, Pool #G08667 | 3.50 | 9/1/45 | 321 | ||||||||||||
518 | Freddie Mac, Pool #G08623 | 3.50 | 1/1/45 | 533 | ||||||||||||
320 | Freddie Mac, Pool #G08632 | 3.50 | 3/1/45 | 329 | ||||||||||||
471 | Freddie Mac, Pool #G08627 | 3.50 | 2/1/45 | 484 | ||||||||||||
150 | Freddie Mac, Pool #G08702 | 3.50 | 4/1/46 | 154 | ||||||||||||
342 | Freddie Mac, Pool #G08641 | 3.50 | 5/1/45 | 351 | ||||||||||||
376 | Freddie Mac, Pool #G08681 | 3.50 | 12/1/45 | 386 | ||||||||||||
174 | Freddie Mac, Pool #G08706 | 3.50 | 5/1/46 | 179 | ||||||||||||
443 | Freddie Mac, Pool #G08650 | 3.50 | 6/1/45 | 456 | ||||||||||||
378 | Freddie Mac, Pool #G08757 | 3.50 | 4/1/47 | 389 | ||||||||||||
163 | Freddie Mac, Pool #G08698 | 3.50 | 3/1/46 | 168 | ||||||||||||
315 | Freddie Mac, Pool #G08654 | 3.50 | 7/1/45 | 324 | ||||||||||||
71 | Freddie Mac, Pool #G30776 | 3.50 | 7/1/35 | 74 | ||||||||||||
132 | Freddie Mac, Pool #Q12052 | 3.50 | 10/1/42 | 136 | ||||||||||||
474 | Freddie Mac, Pool #G08554 | 3.50 | 10/1/43 | 489 | ||||||||||||
196 | Freddie Mac, Pool #Q08998 | 3.50 | 6/1/42 | 203 | ||||||||||||
147 | Freddie Mac, Pool #Q06749 | 3.50 | 3/1/42 | 151 | ||||||||||||
211 | Freddie Mac, Pool #Q08903 | 3.50 | 6/1/42 | 218 | ||||||||||||
250 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 258 | ||||||||||||
431 | Freddie Mac, Pool #G08562 | 3.50 | 1/1/44 | 445 | ||||||||||||
105 | Freddie Mac, Pool #G08605 | 3.50 | 9/1/44 | 108 | ||||||||||||
107 | Freddie Mac, Pool #G08599 | 3.50 | 8/1/44 | 110 | ||||||||||||
182 | Freddie Mac, Pool #G08459 | 4.00 | 9/1/41 | 192 | ||||||||||||
332 | Freddie Mac, Pool #G08669 | 4.00 | 9/1/45 | 348 | ||||||||||||
394 | Freddie Mac, Pool #G08660 | 4.00 | 8/1/45 | 412 | ||||||||||||
23 | Freddie Mac, Pool #C91923 | 4.00 | 3/1/37 | 24 | ||||||||||||
29 | Freddie Mac, Pool #J12435 | 4.00 | 6/1/25 | 30 | ||||||||||||
92 | Freddie Mac, Pool #C91765 | 4.00 | 6/1/34 | 98 | ||||||||||||
124 | Freddie Mac, Pool #G14453 | 4.00 | 6/1/26 | 129 | ||||||||||||
486 | Freddie Mac, Pool #G08752 | 4.00 | 3/1/47 | 508 | ||||||||||||
1,025 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 1,076 | ||||||||||||
200 | Freddie Mac, Pool #C09070 | 4.00 | 12/1/44 | 209 | ||||||||||||
113 | Freddie Mac, Pool #G08601 | 4.00 | 8/1/44 | 118 | ||||||||||||
388 | Freddie Mac, Pool #G08775 | 4.00 | 8/1/47 | 406 | ||||||||||||
99 | Freddie Mac, Pool #C91738 | 4.00 | 11/1/33 | 105 | ||||||||||||
247 | Freddie Mac, Pool #G08588 | 4.00 | 5/1/44 | �� | 258 | |||||||||||
78 | Freddie Mac, Pool #G08483 | 4.00 | 3/1/42 | 82 | ||||||||||||
51 | Freddie Mac, Pool #J11263 | 4.00 | 11/1/19 | 53 | ||||||||||||
69 | Freddie Mac, Pool #G08672 | 4.00 | 10/1/45 | 72 | ||||||||||||
131 | Freddie Mac, Pool #Q34081 | 4.00 | 6/1/45 | 137 | ||||||||||||
180 | Freddie Mac, Pool #Q27594 | 4.00 | 8/1/44 | 189 | ||||||||||||
259 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 274 | ||||||||||||
29 | Freddie Mac, Pool #G08633 | 4.00 | 3/1/45 | 31 | ||||||||||||
156 | Freddie Mac, Pool #G08637 | 4.00 | 4/1/45 | 163 | ||||||||||||
191 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 200 | ||||||||||||
224 | Freddie Mac, Pool #G08618 | 4.00 | 12/1/44 | 234 | ||||||||||||
246 | Freddie Mac, Pool #G08616 | 4.00 | 11/1/44 | 257 | ||||||||||||
234 | Freddie Mac, Pool #G08595 | 4.00 | 7/1/44 | 245 | ||||||||||||
17 | Freddie Mac, Pool #G08642 | 4.00 | 5/1/45 | 18 | ||||||||||||
13 | Freddie Mac, Pool #Q27456 | 4.00 | 7/1/44 | 14 | ||||||||||||
293 | Freddie Mac, Pool #G06506 | 4.00 | 12/1/40 | 308 | ||||||||||||
41 | Freddie Mac, Pool #A90437 | 4.50 | 1/1/40 | 44 |
See accompanying notes to financial statements.
168
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 29 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | $ | 31 | ||||||||||
67 | Freddie Mac, Pool #E02862 | 4.50 | 3/1/26 | 70 | ||||||||||||
87 | Freddie Mac, Pool #G08759 | 4.50 | 4/1/47 | 92 | ||||||||||||
72 | Freddie Mac, Pool #G60512 | 4.50 | 12/1/45 | 76 | ||||||||||||
1,838 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 1,960 | ||||||||||||
29 | Freddie Mac, Pool #Q25432 | 4.50 | 3/1/44 | 31 | ||||||||||||
65 | Freddie Mac, Pool #J09503 | 4.50 | 4/1/24 | 67 | ||||||||||||
36 | Freddie Mac, Pool #J07849 | 4.50 | 5/1/23 | 38 | ||||||||||||
42 | Freddie Mac, Pool #J09311 | 4.50 | 2/1/24 | 43 | ||||||||||||
151 | Freddie Mac, Pool #G08754 | 4.50 | 3/1/47 | 160 | ||||||||||||
187 | Freddie Mac, Pool #A97495 | 4.50 | 3/1/41 | 199 | ||||||||||||
60 | Freddie Mac, Pool #G08596 | 4.50 | 7/1/44 | 64 | ||||||||||||
51 | Freddie Mac, Pool #Q22671 | 4.50 | 11/1/43 | 54 | ||||||||||||
665 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 719 | ||||||||||||
296 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 321 | ||||||||||||
44 | Freddie Mac, Pool #G05205 | 5.00 | 1/1/39 | 48 | ||||||||||||
20 | Freddie Mac, Pool #G07068 | 5.00 | 7/1/41 | 22 | ||||||||||||
277 | Freddie Mac, Pool #Q00763 | 5.00 | 5/1/41 | 300 | ||||||||||||
59 | Freddie Mac, Pool #G13255 | 5.00 | 7/1/23 | 62 | ||||||||||||
4 | Freddie Mac, Pool #G06091 | 5.50 | 5/1/40 | 4 | ||||||||||||
92 | Freddie Mac, Pool #G06031 | 5.50 | 3/1/40 | 102 | ||||||||||||
747 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 830 | ||||||||||||
44 | Freddie Mac, Pool #G05709 | 6.00 | 6/1/38 | 50 | ||||||||||||
71 | Freddie Mac, Pool #G03551 | 6.00 | 11/1/37 | 79 | ||||||||||||
21 | Freddie Mac, Pool #A62706 | 6.00 | 6/1/37 | 24 | ||||||||||||
350 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 394 | ||||||||||||
50 | Freddie Mac, Gold 15 YR TBA | 2.00 | 1/15/33 | 49 | ||||||||||||
725 | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/33 | 724 | ||||||||||||
150 | Freddie Mac, Gold 15 YR TBA | 2.50 | 2/15/32 | 150 | ||||||||||||
300 | Freddie Mac, Gold 15 YR TBA | 3.00 | 1/15/33 | 306 | ||||||||||||
50 | Freddie Mac, Gold 15 YR TBA | 3.00 | 2/15/32 | 51 | ||||||||||||
1,950 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/48 | 1,950 | ||||||||||||
275 | Freddie Mac, Gold 30 YR TBA | 3.00 | 2/15/48 | 275 | ||||||||||||
2,700 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/48 | 2,773 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 3.50 | 2/15/47 | 26 | ||||||||||||
1,325 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/48 | 1,385 | ||||||||||||
325 | Freddie Mac, Gold 30 YR TBA | 4.00 | 2/15/48 | 340 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 4.50 | 2/15/47 | 27 | ||||||||||||
72 | Government National Mortgage Association, Pool #MA4067 | 2.50 | 11/20/46 | 70 | ||||||||||||
19 | Government National Mortgage Association, Pool #711729 | 2.50 | 3/15/43 | 19 | ||||||||||||
94 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 94 | ||||||||||||
47 | Government National Mortgage Association, Pool #MA4424 | 2.50 | 5/20/32 | 48 | ||||||||||||
49 | Government National Mortgage Association, Pool #MA1133 | 2.50 | 7/20/28 | 50 | ||||||||||||
51 | Government National Mortgage Association, Pool #MA0908 | 2.50 | 4/20/28 | 51 | ||||||||||||
92 | Government National Mortgage Association, Pool #MA1283 | 2.50 | 9/20/43 | 91 | ||||||||||||
33 | Government National Mortgage Association, Pool #776954 | 2.50 | 11/15/42 | 32 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4355 | 2.50 | 4/20/32 | 24 | ||||||||||||
20 | Government National Mortgage Association, Pool #MA2890 | 2.50 | 6/20/45 | 19 | ||||||||||||
47 | Government National Mortgage Association, Pool #MA4194 | 2.50 | 1/20/47 | 46 | ||||||||||||
89 | Government National Mortgage Association, Pool #MA0601 | 2.50 | 12/20/27 | 90 | ||||||||||||
188 | Government National Mortgage Association, Pool #MA4125 | 2.50 | 12/20/46 | 184 | ||||||||||||
318 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | 322 | ||||||||||||
315 | Government National Mortgage Association, Pool #MA3596 | 3.00 | 4/20/46 | 318 | ||||||||||||
107 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 110 |
See accompanying notes to financial statements.
169
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 54 | Government National Mortgage Association, Pool #MA2797 | 3.00 | 5/20/30 | $ | 55 | ||||||||||
246 | Government National Mortgage Association, Pool #MA2825 | 3.00 | 5/20/45 | 248 | ||||||||||||
264 | Government National Mortgage Association, Pool #MA3873 | 3.00 | 8/20/46 | 267 | ||||||||||||
197 | Government National Mortgage Association, Pool #MA2753 | 3.00 | 4/20/45 | 199 | ||||||||||||
272 | Government National Mortgage Association, Pool #MA0153 | 3.00 | 6/20/42 | 276 | ||||||||||||
104 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 105 | ||||||||||||
253 | Government National Mortgage Association, Pool #MA3735 | 3.00 | 6/20/46 | 256 | ||||||||||||
143 | Government National Mortgage Association, Pool #779084 | 3.00 | 4/15/42 | 145 | ||||||||||||
245 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 248 | ||||||||||||
24 | Government National Mortgage Association, Pool #AL5058 | 3.00 | 3/15/45 | 24 | ||||||||||||
91 | Government National Mortgage Association, Pool #MA1265 | 3.00 | 9/20/28 | 94 | ||||||||||||
21 | Government National Mortgage Association, Pool #5276 | 3.00 | 1/20/27 | 22 | ||||||||||||
38 | Government National Mortgage Association, Pool #AN5756 | 3.00 | 7/15/45 | 38 | ||||||||||||
1,536 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | 1,556 | ||||||||||||
34 | Government National Mortgage Association, Pool #AA2934 | 3.00 | 7/15/42 | 34 | ||||||||||||
155 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 157 | ||||||||||||
275 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 278 | ||||||||||||
301 | Government National Mortgage Association, Pool #AD8433 | 3.00 | 7/15/43 | 306 | ||||||||||||
68 | Government National Mortgage Association, Pool #AG0440 | 3.00 | 8/15/43 | 69 | ||||||||||||
270 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 274 | ||||||||||||
259 | Government National Mortgage Association, Pool #MA3802 | 3.00 | 7/20/46 | 261 | ||||||||||||
381 | Government National Mortgage Association, Pool #MA3936 | 3.00 | 9/20/46 | 385 | ||||||||||||
281 | Government National Mortgage Association, Pool #MA4381 | 3.00 | 4/20/47 | 284 | ||||||||||||
260 | Government National Mortgage Association, Pool #MA2444 | 3.00 | 12/20/44 | 263 | ||||||||||||
280 | Government National Mortgage Association, Pool #MA4195 | 3.00 | 1/20/47 | 283 | ||||||||||||
232 | Government National Mortgage Association, Pool #MA2960 | 3.00 | 7/20/45 | 235 | ||||||||||||
302 | Government National Mortgage Association, Pool #MA3033 | 3.00 | 8/20/45 | 305 | ||||||||||||
268 | Government National Mortgage Association, Pool #MA4509 | 3.00 | 6/20/47 | 271 | ||||||||||||
96 | Government National Mortgage Association, Pool #MA4559 | 3.00 | 7/20/32 | 98 | ||||||||||||
33 | Government National Mortgage Association, Pool #MA1890 | 3.00 | 5/20/29 | 34 | ||||||||||||
94 | Government National Mortgage Association, Pool #MA2600 | 3.00 | 2/20/45 | 95 | ||||||||||||
279 | Government National Mortgage Association, Pool #MA4320 | 3.00 | 3/20/47 | 281 | ||||||||||||
378 | Government National Mortgage Association, Pool #MA4450 | 3.00 | 5/20/47 | 382 | ||||||||||||
367 | Government National Mortgage Association, Pool #MA2147 | 3.00 | 8/20/44 | 372 | ||||||||||||
278 | Government National Mortgage Association, Pool #MA4126 | 3.00 | 12/20/46 | 281 | ||||||||||||
237 | Government National Mortgage Association, Pool #MA3104 | 3.00 | 9/20/45 | 239 | ||||||||||||
271 | Government National Mortgage Association, Pool #MA3309 | 3.00 | 12/20/45 | 274 | ||||||||||||
214 | Government National Mortgage Association, Pool #MA3172 | 3.00 | 10/20/45 | 216 | ||||||||||||
385 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 400 | ||||||||||||
188 | Government National Mortgage Association, Pool #MA1838 | 3.50 | 4/20/44 | 195 | ||||||||||||
371 | Government National Mortgage Association, Pool #MA3597 | 3.50 | 4/20/46 | 385 | ||||||||||||
37 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 38 | ||||||||||||
831 | Government National Mortgage Association, Pool #MA2148 | 3.50 | 8/20/44 | 862 | ||||||||||||
220 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | 229 | ||||||||||||
184 | Government National Mortgage Association, Pool #MA2371 | 3.50 | 11/20/44 | 190 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA1266 | 3.50 | 9/20/28 | 23 | ||||||||||||
450 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 468 | ||||||||||||
354 | Government National Mortgage Association, Pool #MA2678 | 3.50 | 3/20/45 | 366 | ||||||||||||
366 | Government National Mortgage Association, Pool #MA2303 | 3.50 | 10/20/44 | 379 | ||||||||||||
604 | Government National Mortgage Association, Pool #MA2073 | 3.50 | 7/20/44 | 627 | ||||||||||||
377 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 392 | ||||||||||||
324 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 337 | ||||||||||||
376 | Government National Mortgage Association, Pool #MA2892 | 3.50 | 6/20/45 | 390 | ||||||||||||
181 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 188 |
See accompanying notes to financial statements.
170
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 266 | Government National Mortgage Association, Pool #MA3244 | 3.50 | 11/20/45 | $ | 276 | ||||||||||
185 | Government National Mortgage Association, Pool #MA3521 | 3.50 | 3/20/46 | 192 | ||||||||||||
256 | Government National Mortgage Association, Pool #MA0022 | 3.50 | 4/20/42 | 266 | ||||||||||||
249 | Government National Mortgage Association, Pool #MA2754 | 3.50 | 4/20/45 | 258 | ||||||||||||
216 | Government National Mortgage Association, Pool #MA2445 | 3.50 | 12/20/44 | 224 | ||||||||||||
42 | Government National Mortgage Association, Pool #796271 | 3.50 | 7/15/42 | 43 | ||||||||||||
425 | Government National Mortgage Association, Pool #MA1090 | 3.50 | 6/20/43 | 442 | ||||||||||||
158 | Government National Mortgage Association, Pool #MA1919 | 3.50 | 5/20/44 | 164 | ||||||||||||
829 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 862 | ||||||||||||
277 | Government National Mortgage Association, Pool #MA2961 | 3.50 | 7/20/45 | 287 | ||||||||||||
154 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 160 | ||||||||||||
457 | Government National Mortgage Association, Pool #MA3034 | 3.50 | 8/20/45 | 473 | ||||||||||||
24 | Government National Mortgage Association, Pool #AL8566 | 3.50 | 3/15/45 | 25 | ||||||||||||
290 | Government National Mortgage Association, Pool #MA3874 | 3.50 | 8/20/46 | 300 | ||||||||||||
190 | Government National Mortgage Association, Pool #MA4451 | 3.50 | 5/20/47 | 197 | ||||||||||||
324 | Government National Mortgage Association, Pool #MA3803 | 3.50 | 7/20/46 | 336 | ||||||||||||
206 | Government National Mortgage Association, Pool #MA3454 | 3.50 | 2/20/46 | 214 | ||||||||||||
298 | Government National Mortgage Association, Pool #MA4719 | 3.50 | 9/20/47 | 308 | ||||||||||||
395 | Government National Mortgage Association, Pool #MA4652 | 3.50 | 8/20/47 | 409 | ||||||||||||
335 | Government National Mortgage Association, Pool #MA3937 | 3.50 | 9/20/46 | 346 | ||||||||||||
346 | Government National Mortgage Association, Pool #MA4069 | 3.50 | 11/20/46 | 358 | ||||||||||||
292 | Government National Mortgage Association, Pool #MA4510 | 3.50 | 6/20/47 | 302 | ||||||||||||
106 | Government National Mortgage Association, Pool #738602 | 3.50 | 8/15/26 | 110 | ||||||||||||
91 | Government National Mortgage Association, Pool #740798 | 3.50 | 1/15/42 | 95 | ||||||||||||
308 | Government National Mortgage Association, Pool #MA3663 | 3.50 | 5/20/46 | 320 | ||||||||||||
279 | Government National Mortgage Association, Pool #MA3736 | 3.50 | 6/20/46 | 289 | ||||||||||||
382 | Government National Mortgage Association, Pool #MA4004 | 3.50 | 10/20/46 | 396 | ||||||||||||
295 | Government National Mortgage Association, Pool #MA4586 | 3.50 | 7/20/47 | 305 | ||||||||||||
270 | Government National Mortgage Association, Pool #MA3310 | 3.50 | 12/20/45 | 280 | ||||||||||||
443 | Government National Mortgage Association, Pool #MA4382 | 3.50 | 4/20/47 | 458 | ||||||||||||
332 | Government National Mortgage Association, Pool #MA4127 | 3.50 | 12/20/46 | 344 | ||||||||||||
361 | Government National Mortgage Association, Pool #MA4262 | 3.50 | 2/20/47 | 374 | ||||||||||||
73 | Government National Mortgage Association, Pool #AD2416 | 3.50 | 5/15/43 | 76 | ||||||||||||
366 | Government National Mortgage Association, Pool #MA3376 | 3.50 | 1/20/46 | 379 | ||||||||||||
370 | Government National Mortgage Association, Pool #AM4971 | 3.50 | 4/20/45 | 383 | ||||||||||||
109 | Government National Mortgage Association, Pool #AD2954 | 3.50 | 7/15/44 | 112 | ||||||||||||
121 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 127 | ||||||||||||
55 | Government National Mortgage Association, Pool #740068 | 4.00 | 9/15/40 | 58 | ||||||||||||
235 | Government National Mortgage Association, Pool #MA4263 | 4.00 | 2/20/47 | 246 | ||||||||||||
74 | Government National Mortgage Association, Pool #MA0155 | 4.00 | 6/20/42 | 78 | ||||||||||||
45 | Government National Mortgage Association, Pool #779401 | 4.00 | 6/15/42 | 47 | ||||||||||||
383 | Government National Mortgage Association, Pool #MA4511 | 4.00 | 6/20/47 | 400 | ||||||||||||
326 | Government National Mortgage Association, Pool #MA1839 | 4.00 | 4/20/44 | 343 | ||||||||||||
88 | Government National Mortgage Association, Pool #753254 | 4.00 | 9/15/43 | 91 | ||||||||||||
79 | Government National Mortgage Association, Pool #MA3455 | 4.00 | 2/20/46 | 83 | ||||||||||||
189 | Government National Mortgage Association, Pool #MA2522 | 4.00 | 1/20/45 | 198 | ||||||||||||
242 | Government National Mortgage Association, Pool #MA3598 | 4.00 | 4/20/46 | 254 | ||||||||||||
71 | Government National Mortgage Association, Pool #MA3106 | 4.00 | 9/20/45 | 75 | ||||||||||||
219 | Government National Mortgage Association, Pool #MA3377 | 4.00 | 1/20/46 | 230 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA3174 | 4.00 | 10/20/45 | 44 | ||||||||||||
108 | Government National Mortgage Association, Pool #MA4322 | 4.00 | 3/20/47 | 113 | ||||||||||||
361 | Government National Mortgage Association, Pool #MA4383 | 4.00 | 4/20/47 | 377 | ||||||||||||
142 | Government National Mortgage Association, Pool #MA3737 | 4.00 | 6/20/46 | 149 | ||||||||||||
620 | Government National Mortgage Association, Pool #MA4452 | 4.00 | 5/20/47 | 647 |
See accompanying notes to financial statements.
171
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 106 | Government National Mortgage Association, Pool #AD5627 | 4.00 | 4/15/43 | $ | 111 | ||||||||||
320 | Government National Mortgage Association, Pool #MA2074 | 4.00 | 7/20/44 | 336 | ||||||||||||
350 | Government National Mortgage Association, Pool #MA4587 | 4.00 | 7/20/47 | 365 | ||||||||||||
21 | Government National Mortgage Association, Pool #AJ2722 | 4.00 | 8/15/44 | 22 | ||||||||||||
105 | Government National Mortgage Association, Pool #MA2149 | 4.00 | 8/20/44 | 110 | ||||||||||||
218 | Government National Mortgage Association, Pool #MA1376 | 4.00 | 10/20/43 | 230 | ||||||||||||
115 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 121 | ||||||||||||
606 | Government National Mortgage Association, Pool #5139 | 4.00 | 8/20/41 | 638 | ||||||||||||
43 | Government National Mortgage Association, Pool #4922 | 4.00 | 1/20/41 | 45 | ||||||||||||
165 | Government National Mortgage Association, Pool #MA0319 | 4.00 | 8/20/42 | 173 | ||||||||||||
143 | Government National Mortgage Association, Pool #AM8203 | 4.00 | 5/15/45 | 150 | ||||||||||||
276 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 290 | ||||||||||||
166 | Government National Mortgage Association, Pool #MA1678 | 4.00 | 2/20/44 | 175 | ||||||||||||
117 | Government National Mortgage Association, Pool #MA3245 | 4.00 | 11/20/45 | 122 | ||||||||||||
220 | Government National Mortgage Association, Pool #MA1449 | 4.00 | 11/20/43 | 232 | ||||||||||||
254 | Government National Mortgage Association, Pool #MA4197 | 4.00 | 1/20/47 | 266 | ||||||||||||
87 | Government National Mortgage Association, Pool #AB1483 | 4.00 | 8/15/42 | 91 | ||||||||||||
191 | Government National Mortgage Association, Pool #713876 | 4.00 | 8/15/39 | 200 | ||||||||||||
44 | Government National Mortgage Association, Pool #766495 | 4.00 | 10/15/41 | 47 | ||||||||||||
81 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 85 | ||||||||||||
125 | Government National Mortgage Association, Pool #MA2602 | 4.00 | 2/20/45 | 131 | ||||||||||||
236 | Government National Mortgage Association, Pool #MA2304 | 4.00 | 10/20/44 | 248 | ||||||||||||
270 | Government National Mortgage Association, Pool #MA2224 | 4.00 | 9/20/44 | 284 | ||||||||||||
310 | Government National Mortgage Association, Pool #MA4384 | 4.50 | 4/20/47 | 325 | ||||||||||||
842 | Government National Mortgage Association, Pool #4801 | 4.50 | 9/20/40 | 893 | ||||||||||||
46 | Government National Mortgage Association, Pool #729511 | 4.50 | 4/15/40 | 49 | ||||||||||||
250 | Government National Mortgage Association, Pool #MA4512 | 4.50 | 6/20/47 | 263 | ||||||||||||
275 | Government National Mortgage Association, Pool #717148 | 4.50 | 5/15/39 | 295 | ||||||||||||
193 | Government National Mortgage Association, Pool #5260 | 4.50 | 12/20/41 | 204 | ||||||||||||
594 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 635 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA3805 | 4.50 | 7/20/46 | 93 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA4129 | 4.50 | 12/20/46 | 44 | ||||||||||||
218 | Government National Mortgage Association, Pool #MA2756 | 4.50 | 4/20/45 | 230 | ||||||||||||
67 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 71 | ||||||||||||
148 | Government National Mortgage Association, Pool #MA0701 | 4.50 | 1/20/43 | 156 | ||||||||||||
51 | Government National Mortgage Association, Pool #738793 | 4.50 | 9/15/41 | 55 | ||||||||||||
218 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 231 | ||||||||||||
130 | Government National Mortgage Association, Pool #MA2076 | 5.00 | 7/20/44 | 139 | ||||||||||||
128 | Government National Mortgage Association, Pool #604285 | 5.00 | 5/15/33 | 139 | ||||||||||||
80 | Government National Mortgage Association, Pool #712690 | 5.00 | 4/15/39 | 88 | ||||||||||||
114 | Government National Mortgage Association, Pool #694531 | 5.00 | 11/15/38 | 124 | ||||||||||||
246 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 267 | ||||||||||||
39 | Government National Mortgage Association, Pool #675179 | 5.00 | 3/15/38 | 42 | ||||||||||||
2 | Government National Mortgage Association, Pool #673496 | 5.00 | 4/15/38 | 2 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA0465 | 5.00 | 10/20/42 | 25 | ||||||||||||
602 | Government National Mortgage Association, Pool #4559 | 5.00 | 10/20/39 | 656 | ||||||||||||
36 | Government National Mortgage Association, Pool #782468 | 5.00 | 11/15/38 | 39 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 25 | ||||||||||||
50 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 56 | ||||||||||||
120 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 133 | ||||||||||||
187 | Government National Mortgage Association, Pool #783284 | 5.50 | 6/20/40 | 202 | ||||||||||||
99 | Government National Mortgage Association, Pool #4245 | 6.00 | 9/20/38 | 110 | ||||||||||||
88 | Government National Mortgage Association, Pool #4222 | 6.00 | 8/20/38 | 99 | ||||||||||||
236 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 267 | ||||||||||||
2 | Government National Mortgage Association, Pool #690789 | 6.50 | 5/15/38 | 2 |
See accompanying notes to financial statements.
172
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 33 | Government National Mortgage Association, Pool #699237 | 6.50 | 9/15/38 | $ | 37 | ||||||||||
375 | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/20/46 | 378 | ||||||||||||
3,150 | Government National Mortgage Association, 30 YR TBA | 3.00 | 1/20/48 | 3,178 | ||||||||||||
425 | Government National Mortgage Association, 30 YR TBA | 3.50 | 2/20/48 | 439 | ||||||||||||
2,800 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/48 | 2,896 | ||||||||||||
325 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/48 | 339 | ||||||||||||
200 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/48 | 209 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 166,929 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 0.21% | ||||||||||||||||
91 | Bank of Nova Scotia (Banks) | 1.85 | 4/14/20 | 90 | ||||||||||||
91 | Bank of Nova Scotia (Banks) | 2.13 | 9/11/19 | 91 | ||||||||||||
137 | Royal Bank of Canada (Banks) | 1.88 | 2/5/20 | 136 | ||||||||||||
91 | Royal Bank of Canada (Banks) | 2.20 | 9/23/19 | 91 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 408 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 18.06% | ||||||||||||||||
34,524,118 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (b) | 34,524 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 34,524 | |||||||||||||||
|
| |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $215,384) — 112.63% | 215,305 | |||||||||||||||
|
| |||||||||||||||
Principal Amount (000) | ||||||||||||||||
TBA Sale Commitments (c) — (0.87)% | ||||||||||||||||
$ | (775 | ) | Fannie Mae, 15 YR TBA | 4.00 | 1/25/33 | (797 | ) | |||||||||
(50 | ) | Fannie Mae, 30 YR TBA | 5.00 | 2/25/47 | (54 | ) | ||||||||||
(25 | ) | Fannie Mae, 30 YR TBA | 4.50 | 2/25/48 | (27 | ) | ||||||||||
(25 | ) | Fannie Mae, 30 YR TBA | 2.50 | 2/25/47 | (24 | ) | ||||||||||
(175 | ) | Freddie Mac, Gold 15 YR TBA | 4.50 | 1/15/33 | (177 | ) | ||||||||||
(50 | ) | Freddie Mac, Gold 15 YR TBA | 4.00 | 1/15/33 | (51 | ) | ||||||||||
(225 | ) | Freddie Mac, Gold 30 YR TBA | 5.00 | 1/15/48 | (242 | ) | ||||||||||
(50 | ) | Government National Mortgage Association, 30 YR TBA | 4.50 | 2/20/48 | (52 | ) | ||||||||||
(50 | ) | Government National Mortgage Association, 30 YR TBA | 3.00 | 2/15/47 | (50 | ) | ||||||||||
(50 | ) | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/15/48 | (52 | ) | ||||||||||
(100 | ) | Government National Mortgage Association, 30 YR TBA | 5.00 | 1/15/48 | (108 | ) | ||||||||||
|
| |||||||||||||||
Total TBA Sale Commitments | (1,634 | ) | ||||||||||||||
|
| |||||||||||||||
Liabilities in excess of other assets — (11.76)% | (22,477 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 191,194 | ||||||||||||||
|
|
(a) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate presented is the rate in effect at December 31, 2017. |
(b) | The rate disclosed is the rate in effect on December 31, 2017. |
(c) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Financial Statements.) |
TBA — To Be Announced purchase or sale commitment. Security is subject to delayed delivery
See accompanying notes to financial statements.
173
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | Mellon Capital Management Corporation | HC Capital Solutions | Total | |||||||||
Asset Backed Securities | 1.42 | % | — | 1.42 | % | |||||||
Collateralized Mortgage Obligations | 5.62 | % | — | 5.62 | % | |||||||
U.S. Government Agency Mortgages | 87.32 | % | — | 87.32 | % | |||||||
Yankee Dollars | 0.21 | % | — | 0.21 | % | |||||||
Mutual Fund | 11.96 | % | 6.10 | % | 18.06 | % | ||||||
TBA Sale Commitments | -0.87 | % | — | -0.87 | % | |||||||
Other Assets (Liabilities) | -11.76 | % | 0.00 | % | -11.76 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 93.90 | % | 6.10 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
174
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 98.20% | ||||||||||||||||
Arizona — 4.13% | ||||||||||||||||
$ | 420 | Arizona School Facilities Board Revenue (Pre-Refunded/Escrowed to Maturity) | 5.38 | 9/1/21 | $ | 431 | ||||||||||
275 | Arizona State Water Infrastructure Finance Authority Water Quality Revenue, Series A (Pre-Refunded/Escrowed to Maturity) | 5.00 | 10/1/23 | 283 | ||||||||||||
|
| |||||||||||||||
714 | ||||||||||||||||
|
| |||||||||||||||
Florida — 7.84% | ||||||||||||||||
400 | Florida State Depth Environmental Protection Preservation Revenue, Series A | 5.00 | 7/1/20 | 432 | ||||||||||||
425 | JEA Florida Electric System Revenue, Series D | 5.00 | 10/1/22 | 484 | ||||||||||||
420 | South Broward Florida Hospital District Revenue | 5.00 | 5/1/19 | 438 | ||||||||||||
|
| |||||||||||||||
1,354 | ||||||||||||||||
|
| |||||||||||||||
Illinois — 5.54% | ||||||||||||||||
425 | McHenry County Illinois Conservation District, GO | 5.00 | 2/1/20 | 453 | ||||||||||||
475 | Northbrook Illinois, GO, Series A | 5.00 | 12/1/19 | 504 | ||||||||||||
|
| |||||||||||||||
957 | ||||||||||||||||
|
| |||||||||||||||
Indiana — 2.51% | ||||||||||||||||
420 | Rush County Elementary School Building Corporation Revenue, Series A | 5.00 | 7/15/19 | 435 | ||||||||||||
|
| |||||||||||||||
Iowa — 5.68% | ||||||||||||||||
450 | Waukee Iowa Community School District, GO, Series C | 5.00 | 6/1/19 | 472 | ||||||||||||
500 | West Des Moines Iowa, GO, Series B | 5.00 | 6/1/18 | 508 | ||||||||||||
|
| |||||||||||||||
980 | ||||||||||||||||
|
| |||||||||||||||
Maryland — 2.79% | ||||||||||||||||
450 | Maryland State, GO, Series A | 5.00 | 3/1/20 | 482 | ||||||||||||
|
| |||||||||||||||
Michigan — 5.55% | ||||||||||||||||
400 | Michigan State Finance Authority Revenue | 5.00 | 12/1/18 | 412 | ||||||||||||
500 | Oakland University Michigan Revenue | 5.00 | 3/1/21 | 546 | ||||||||||||
|
| |||||||||||||||
958 | ||||||||||||||||
|
| |||||||||||||||
Nevada — 1.56% | ||||||||||||||||
250 | Clark County, Nevada Highway Revenue | 5.00 | 7/1/20 | 270 | ||||||||||||
|
| |||||||||||||||
New Jersey — 3.04% | ||||||||||||||||
375 | Middlesex County Improvement Authority Revenue | 3.00 | 9/1/20 | 388 | ||||||||||||
130 | South Brunswick Township New Jersey, GO | 4.00 | 9/1/20 | 137 | ||||||||||||
|
| |||||||||||||||
525 | ||||||||||||||||
|
| |||||||||||||||
New Mexico — 2.28% | ||||||||||||||||
375 | New Mexico State Finance Authority Revenue, Series B | 5.00 | 6/15/19 | 393 | ||||||||||||
|
| |||||||||||||||
New York — 6.77% | ||||||||||||||||
400 | New York City, GO, Series B (AMBAC) | 5.00 | 8/15/18 | 409 | ||||||||||||
250 | New York City Municipal Water Finance Authority Water & Sewer System Revenue, Callable 12/15/21 @ 100.00 | 5.00 | 6/15/23 | 281 | ||||||||||||
405 | New York State Dormitory Authority Revenue, Series A | 5.00 | 2/15/24 | 478 | ||||||||||||
|
| |||||||||||||||
1,168 | ||||||||||||||||
|
| |||||||||||||||
Pennsylvania — 6.11% | ||||||||||||||||
525 | Philadelphia Pennsylvania Authority For Industrial Development Temple University Revenue, Series 2016 | 5.00 | 4/1/21 | 576 | ||||||||||||
475 | Pleasant Valley Pennsylvania School District, GO (State Aid Withholding) | 5.00 | 5/1/18 | 480 | ||||||||||||
|
| |||||||||||||||
1,056 | ||||||||||||||||
|
| |||||||||||||||
South Carolina — 2.30% | ||||||||||||||||
350 | South Carolina State Public Service Authority Revenue, Series B | 5.00 | 12/1/22 | 398 | ||||||||||||
|
| |||||||||||||||
South Dakota — 2.50% | ||||||||||||||||
395 | City of Sioux Falls South Dakota Sales Tax Revenue, Series A | 5.00 | 11/15/20 | 431 | ||||||||||||
|
|
See accompanying notes to financial statements.
175
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Tennessee — 2.23% | ||||||||||||||||
$ | 350 | City of Clarksville Tennessee Water Sewer & Gas Revenue | 5.00 | 2/1/21 | $ | 385 | ||||||||||
|
| |||||||||||||||
Texas — 18.38% | ||||||||||||||||
240 | Austin Texas Contractual Obligation, GO | 5.00 | 5/1/19 | 251 | ||||||||||||
300 | City of Frisco, Texas Refunding and Improvement, GO | 5.00 | 2/15/19 | 312 | ||||||||||||
450 | Goose Creek Texas Consolidated Independent School District, GO, | 5.00 | 2/15/22 | 496 | ||||||||||||
430 | Harris County Toll Road Authority Revenue, Series B | 5.00 | 8/15/22 | 490 | ||||||||||||
440 | Hidalgo County Texas, GO | 4.00 | 8/15/18 | 447 | ||||||||||||
250 | New Braunfels Texas, GO | 5.00 | 2/1/19 | 259 | ||||||||||||
405 | Nueces County Texas, GO | 5.00 | 2/15/19 | 421 | ||||||||||||
490 | Rockwall Texas, GO | 4.00 | 8/1/18 | 498 | ||||||||||||
|
| |||||||||||||||
3,174 | ||||||||||||||||
|
| |||||||||||||||
Washington — 15.26% | ||||||||||||||||
420 | Grant County Washington Public Utility District Revenue, Series I | 5.00 | 1/1/19 | 435 | ||||||||||||
215 | King County Washington Sewer Revenue (Pre-Refunded/Escrowed to Maturity) | 5.00 | 1/1/22 | 232 | ||||||||||||
135 | King County Washington Sewer Revenue, Callable 7/1/20 @ 100.00 | 5.00 | 1/1/22 | 146 | ||||||||||||
500 | Tacoma Washington Electric System Revenue, Series A | 4.00 | 1/1/20 | 523 | ||||||||||||
470 | Washington State, GO, Series A (Pre-Refunded/Escrowed to Maturity) | 5.00 | 7/1/30 | 478 | ||||||||||||
420 | Washington State, GO, Series C (Pre-Refunded/Escrowed to Maturity) | 5.00 | 2/1/33 | 435 | ||||||||||||
365 | Washington State, GO, Series A | 5.00 | 8/1/19 | 385 | ||||||||||||
|
| |||||||||||||||
2,634 | ||||||||||||||||
|
| |||||||||||||||
Wisconsin — 3.73% | ||||||||||||||||
380 | City of Milwaukee WI, GO, Series N4&B5 | 5.00 | 4/1/23 | 440 | ||||||||||||
200 | Milwaukee Wisconsin Area Technical College District, GO, Series C | 3.00 | 6/1/19 | 204 | ||||||||||||
|
| |||||||||||||||
644 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 16,958 | |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 0.47% | ||||||||||||||||
80,707 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (a) | 81 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 81 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $17,111) — 98.67% | 17,039 | |||||||||||||||
Other assets in excess of liabilities — 1.33% | 230 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 17,269 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2017. |
AMBAC — American Municipal Bond Assurance Corporation
GO — General Obligation
PSF-GTD — Public School Fund Guaranteed
As of December 31, 2017, 100% of the Portfolio’s net assets were managed by Breckinridge Capital Advisors, Inc.
See accompanying notes to financial statements.
176
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 93.10% | ||||||||||||||||
Alabama — 0.70% | ||||||||||||||||
$ | 1,400 | Birmingham Alabama Water Works Board Water Revenue, Series B | 5.00 | 1/1/24 | $ | 1,631 | ||||||||||
1,000 | Jefferson County Alabama Revenue | 5.00 | 9/15/22 | 1,130 | ||||||||||||
|
| |||||||||||||||
2,761 | ||||||||||||||||
|
| |||||||||||||||
Alaska — 0.62% | ||||||||||||||||
2,265 | Alaska Industrial Development & Export Authority Revenue, Revolving Fund, Series A, Callable 4/1/20 @ 100.00 (GO of Authority) | 5.25 | 4/1/22 | 2,437 | ||||||||||||
|
| |||||||||||||||
Arizona — 2.19% | ||||||||||||||||
1,500 | Phoenix Arizona Civic Improvement Corp. Wastewater System Revenue, Junior Lien | 5.00 | 7/1/21 | 1,665 | ||||||||||||
1,000 | Salt Verde Arizona Financial Corp. Senior Gas Revenue (Citigroup, Inc.) | 5.25 | 12/1/24 | 1,180 | ||||||||||||
5,250 | Tucson Arizona Water System Revenue, Series A | 5.00 | 7/1/21 | 5,827 | ||||||||||||
|
| |||||||||||||||
8,672 | ||||||||||||||||
|
| |||||||||||||||
Arkansas — 0.34% | ||||||||||||||||
1,200 | Arkansas State Development Finance Authority Hospital Revenue, Series B | 5.00 | 2/1/23 | 1,360 | ||||||||||||
|
| |||||||||||||||
California — 8.52% | ||||||||||||||||
1,500 | California State, GO | 5.00 | 8/1/24 | 1,789 | ||||||||||||
5,000 | California State, GO | 5.00 | 11/1/23 | 5,871 | ||||||||||||
2,510 | California State Department of Water Resources Revenue, Central Valley Project, Continuously Callable @ 100.00 | 5.25 | 7/1/22 | 2,517 | ||||||||||||
1,000 | California State Public Works Board Lease Revenue, Series B | 5.00 | 10/1/21 | 1,116 | ||||||||||||
4,155 | California State Public Works Board Lease Revenue, Series D | 5.00 | 4/1/24 | 4,906 | ||||||||||||
1,500 | Golden State Tobacco Securitization Corp. California Tobacco Settlement Revenue, Series A-1 | 5.00 | 6/1/21 | 1,637 | ||||||||||||
2,460 | Golden State Tobacco Securitization Corp. California Tobacco Settlement Revenue, Series A-1 | 5.00 | 6/1/26 | 2,883 | ||||||||||||
1,000 | Los Angeles California Department of Airports Revenue | 5.00 | 5/15/23 | 1,151 | ||||||||||||
1,650 | Los Angeles California Department of Water & Power System Revenue, Series A | 5.00 | 7/1/21 | 1,843 | ||||||||||||
5,000 | Orange County California Sanitation District Wastewater Revenue, Series A | 5.00 | 2/1/22 | 5,675 | ||||||||||||
3,925 | San Francisco California City & County Airports Commission International Terminal Revenue, Series F, AMT, Callable 5/1/21 @ 100.00 | 5.00 | 5/1/22 | 4,321 | ||||||||||||
65 | University of California Revenue, Series Q, Continuously Callable @ 100.00 | 5.25 | 5/15/23 | 66 | ||||||||||||
|
| |||||||||||||||
33,775 | ||||||||||||||||
|
| |||||||||||||||
Colorado — 3.68% | ||||||||||||||||
5,000 | Colorado State Health Facilities Authority Revenue, Catholic Health Initiatives, Series D-3 | | 5.00 (US LIBOR) | (a) | 10/1/38 | 5,483 | ||||||||||
3,720 | City of Colorado Springs Colorado Utilities System Revenue, Series A-3 | 5.00 | 11/15/22 | 4,276 | ||||||||||||
1,225 | Colorado State Board of Governors University Enterprise System Revenue, Series E-2 | 5.00 | 3/1/25 | 1,471 | ||||||||||||
1,150 | Denver City & County Colorado Airport Revenue, Series A, AMT | 5.00 | 11/15/19 | 1,215 | ||||||||||||
1,750 | Denver City & County Colorado Airport Revenue, Series A | 5.00 | 11/15/23 | 2,045 | ||||||||||||
|
| |||||||||||||||
14,490 | ||||||||||||||||
|
| |||||||||||||||
Connecticut — 1.12% | ||||||||||||||||
2,500 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series A | 5.00 | 9/1/21 | 2,748 | ||||||||||||
1,570 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series B | 5.00 | 8/1/20 | 1,686 | ||||||||||||
|
| |||||||||||||||
4,434 | ||||||||||||||||
|
| |||||||||||||||
District of Columbia — 0.45% | ||||||||||||||||
1,500 | District of Columbia University Revenue | 5.00 | 4/1/25 | 1,793 | ||||||||||||
|
| |||||||||||||||
Florida — 7.15% | ||||||||||||||||
5,000 | Citizens Property Insurance Corp. Florida Revenue, Series A-1, Callable 12/1/19 @ 100.00 | 5.00 | 6/1/20 | 5,298 | ||||||||||||
1,285 | Greater Orlando Florida Aviation Authority Airport Facilities Revenue, Series A | 5.00 | 10/1/21 | 1,427 | ||||||||||||
1,100 | JEA Florida Electric System Revenue, Series A | 5.00 | 10/1/20 | 1,195 | ||||||||||||
1,615 | Lee County Florida Solid Waste System Revenue, AMT | 5.00 | 10/1/22 | 1,818 |
See accompanying notes to financial statements.
177
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Florida (continued) | ||||||||||||||||
$ | 1,600 | Lee County Florida Transportation Facilities Revenue (AGM) | 5.00 | 10/1/20 | $ | 1,742 | ||||||||||
4,570 | Miami-Dade County Florida Aviation Revenue, Series A | 5.00 | 10/1/21 | 5,071 | ||||||||||||
2,000 | Orange County Florida Tourist Development Tax Revenue | 5.00 | 10/1/20 | 2,177 | ||||||||||||
3,250 | Orange County Florida Tourist Development Tax Revenue, Series B | 5.00 | 10/1/25 | 3,941 | ||||||||||||
1,500 | Palm Beach County Florida Health Facilities Authority Revenue | 5.00 | 11/15/21 | 1,676 | ||||||||||||
1,845 | Palm Beach County Florida School Board, Series D | 5.00 | 8/1/21 | 2,048 | ||||||||||||
1,750 | South Florida Water Management District Corps, CP | 5.00 | 10/1/21 | 1,947 | ||||||||||||
|
| |||||||||||||||
28,340 | ||||||||||||||||
|
| |||||||||||||||
Georgia — 2.69% | ||||||||||||||||
1,000 | Atlanta Georgia Development Authority Revenue, Series A-1 | 5.00 | 7/1/23 | 1,160 | ||||||||||||
1,250 | Fulton County Georgia Development Authority Revenue, Series A | 5.00 | 7/1/23 | 1,446 | ||||||||||||
1,600 | Fulton County Georgia Development Authority Revenue, Series A | 5.00 | 7/1/24 | 1,886 | ||||||||||||
3,050 | Georgia State Municipal Gas Authority Revenue, Gas Portfolio III Project, Series U | 5.00 | 10/1/21 | 3,373 | ||||||||||||
1,000 | Main Street Natural Gas, Inc. Georgia Gas Revenue, Series A (JP Morgan Chase & Co.) | 5.00 | 3/15/19 | 1,037 | ||||||||||||
1,620 | Municipal Electric Authority of Georgia Revenue, Series A | 5.00 | 1/1/21 | 1,757 | ||||||||||||
|
| |||||||||||||||
10,659 | ||||||||||||||||
|
| |||||||||||||||
Illinois — 1.84% | ||||||||||||||||
96 | Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey / Narragansett Project, Series NT, Continuously Callable @ 100.00 (b) | 7.46 | 2/15/26 | 70 | ||||||||||||
1,000 | City of Chicago IL Waterworks Revenue | 5.00 | 11/1/24 | 1,157 | ||||||||||||
1,240 | Illinois State Finance Authority Revenue, Series B | 5.00 | 5/1/22 | 1,403 | ||||||||||||
1,500 | Illinois State Finance Authority Revenue, University of Chicago, Series A | 5.00 | 10/1/20 | 1,628 | ||||||||||||
750 | Northern Illinois Municipal Power Agency Project Revenue, Series A | 5.00 | 12/1/22 | 849 | ||||||||||||
2,000 | Railsplitter Tobacco Settlement Authority Revenue | 5.00 | 6/1/22 | 2,213 | ||||||||||||
|
| |||||||||||||||
7,320 | ||||||||||||||||
|
| |||||||||||||||
Indiana — 2.56% | ||||||||||||||||
1,150 | Indiana Finance Authority Revenue, Series A | 5.00 | 11/1/23 | 1,336 | ||||||||||||
1,000 | Indiana Finance Authority Revenue, Series A | 5.00 | 11/1/24 | 1,183 | ||||||||||||
1,000 | Indiana State Finance Authority Revenue, Stadium Project, Series A | 5.00 | 2/1/23 | 1,144 | ||||||||||||
2,500 | Indianapolis Local Public Improvement Bond Bank Airport Authority Revenue, | 5.00 | 1/1/21 | 2,728 | ||||||||||||
1,000 | Richmond Indiana Hospital Authority Revenue, Reid Hospital & Health Care, Series A | 5.00 | 1/1/21 | 1,079 | ||||||||||||
2,250 | Whiting Indiana Environmental Facilities Revenue | 5.00 | (a) | 11/1/47 | 2,640 | |||||||||||
|
| |||||||||||||||
10,110 | ||||||||||||||||
|
| |||||||||||||||
Louisiana — 2.13% | ||||||||||||||||
2,850 | Louisiana State Citizens Property Insurance Corp. Revenue (AGM) | 5.00 | 6/1/22 | 3,207 | ||||||||||||
5,000 | Tobacco Settlement Financing Corp. Louisiana Revenue, Series A | 5.00 | 5/15/19 | 5,226 | ||||||||||||
|
| |||||||||||||||
8,433 | ||||||||||||||||
|
| |||||||||||||||
Maryland — 2.41% | ||||||||||||||||
1,000 | Maryland State Health & Higher Educational Facilities Authority Revenue, Series B | 5.00 | 7/1/22 | 1,128 | ||||||||||||
1,000 | Maryland State Economic Development Corp. Private Activity Revenue, Series A, AMT, Callable 11/30/21 @ 100.00 | 5.00 | 3/31/24 | 1,111 | ||||||||||||
4,040 | Maryland State Stadium Authority Revenue | 5.00 | 5/1/24 | 4,782 | ||||||||||||
2,110 | Montgomery County Maryland, GO, Series A | 5.00 | 12/1/23 | 2,495 | ||||||||||||
|
| |||||||||||||||
9,516 | ||||||||||||||||
|
| |||||||||||||||
Massachusetts — 3.74% | ||||||||||||||||
1,615 | Massachusetts State Educational Financing Authority Revenue, Series A, AMT | 5.00 | 7/1/23 | 1,810 | ||||||||||||
4,730 | Massachusetts State Educational Financing Authority Revenue, Series K | 5.00 | 7/1/19 | 4,949 | ||||||||||||
2,315 | Massachusetts State Development Finance Agency Revenue, Bentley University, | 5.00 | 7/1/21 | 2,479 |
See accompanying notes to financial statements.
178
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HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Massachusetts (continued) | ||||||||||||||||
$ | 2,180 | Massachusetts State Development Finance Agency Revenue, Bentley University (Pre-Refunded/Escrowed to Maturity) | 5.00 | 7/1/22 | $ | 2,356 | ||||||||||
1,750 | Massachusetts Development Finance Agency Revenue (Pre-Refunded/Escrowed to Maturity) | 5.25 | 1/1/21 | 1,922 | ||||||||||||
1,170 | Massachusetts Development Finance Agency Revenue | 5.25 | 1/1/21 | 1,276 | ||||||||||||
|
| |||||||||||||||
14,792 | ||||||||||||||||
|
| |||||||||||||||
Michigan — 2.75% | ||||||||||||||||
1,810 | Great Lakes Michigan Water Authority Sewage Disposal System Revenue, Series B | 5.00 | 7/1/24 | 2,103 | ||||||||||||
2,000 | Michigan State Finance Authority Revenue, Detroit School District, | 5.00 | 5/1/21 | 2,187 | ||||||||||||
4,000 | Michigan State Finance Authority Revenue, Series D-1 (AGM) | 5.00 | 7/1/21 | 4,416 | ||||||||||||
1,000 | Michigan State Finance Authority Revenue, Series D-1 | 5.00 | 7/1/21 | 1,089 | ||||||||||||
1,000 | Wayne County Michigan Airport Authority Revenue, Series A, AMT | 5.00 | 12/1/19 | 1,057 | ||||||||||||
|
| |||||||||||||||
10,852 | ||||||||||||||||
|
| |||||||||||||||
Minnesota — 0.34% | ||||||||||||||||
1,200 | Minneapolis-Saint Paul Minnesota Metropolitan Airports Commission Revenue, | 5.00 | 1/1/22 | 1,350 | ||||||||||||
|
| |||||||||||||||
Missouri — 1.83% | ||||||||||||||||
2,500 | Kansas City Missouri Airport Revenue, Series A, AMT | 5.00 | 9/1/20 | 2,701 | ||||||||||||
1,600 | Missouri State Joint Municipal Electric Utility Commission Power Project Revenue, Series A | 5.00 | 1/1/21 | 1,748 | ||||||||||||
1,500 | Missouri State Development Finance Board Infrastructure Facilities Revenue, Branson Landing Project, Series A | 5.00 | 6/1/20 | 1,606 | ||||||||||||
1,000 | Missouri State Health & Educational Facilities Authority Revenue | 5.00 | 11/15/23 | 1,176 | ||||||||||||
|
| |||||||||||||||
7,231 | ||||||||||||||||
|
| |||||||||||||||
Nevada — 2.68% | ||||||||||||||||
3,470 | Clark County Nevada School District, GO, Series A | 5.00 | 6/15/23 | 4,001 | ||||||||||||
1,000 | Clark County Nevada School District, GO, Series A | 5.00 | 6/15/26 | 1,207 | ||||||||||||
4,865 | Las Vegas Valley Nevada Water District, GO, Series A | 5.00 | 6/1/21 | 5,395 | ||||||||||||
|
| |||||||||||||||
10,603 | ||||||||||||||||
|
| |||||||||||||||
New Jersey — 2.57% | ||||||||||||||||
750 | New Jersey State Health Care Facilities Financing Authority Revenue, | 5.00 | 7/1/19 | 786 | ||||||||||||
3,750 | New Jersey State Economic Development Authority Revenue, School Facilities Construction, Series NN | 5.00 | 3/1/21 | 4,008 | ||||||||||||
5,000 | New Jersey State Higher Education Assistance Authority Senior Revenue, | 5.00 | 12/1/20 | 5,362 | ||||||||||||
|
| |||||||||||||||
10,156 | ||||||||||||||||
|
| |||||||||||||||
New Mexico — 0.25% | ||||||||||||||||
1,000 | New Mexico State Municipal Energy Acquisition Authority Gas Supply Revenue, | | 1.56 (US0001M + 65.00 bps) | (c) | 2/1/19 | 998 | ||||||||||
|
| |||||||||||||||
New York — 9.76% | ||||||||||||||||
2,000 | Long Island New York Power Authority Electricity System Revenue, Series C, | | 1.83 (US0001M + 88.00 bps) | (c) | 5/1/33 | 2,003 | ||||||||||
2,110 | Metropolitan Transportation Authority New York Revenue, Series A-1 | 5.00 | 11/15/22 | 2,416 | ||||||||||||
2,000 | Metropolitan Transportation Authority New York Revenue, Series B | 5.00 | 11/15/22 | 2,290 | ||||||||||||
1,000 | Metropolitan Transportation Authority New York Revenue, Series F | 5.00 | 11/15/20 | 1,090 | ||||||||||||
3,020 | New York State, GO, Series E, Callable 8/1/19 @ 100.00 | 5.00 | 8/1/21 | 3,180 | ||||||||||||
2,500 | New York State, GO, Series C | 5.00 | 8/1/23 | 2,913 | ||||||||||||
3,000 | New York City Housing Development Corp. Revenue, Series B-2, | 5.00 | 7/1/26 | 3,414 |
See accompanying notes to financial statements.
179
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
New York (continued) | ||||||||||||||||
$ | 2,500 | New York City Health & Hospital Corp. Revenue, Health System, Series A, | 5.00 | 2/15/22 | $ | 2,689 | ||||||||||
1,000 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series B-1, | 5.00 | 8/1/29 | 1,177 | ||||||||||||
1,520 | New York City Transitional Finance Authority Building AID Revenue, Series S-2 (State Aid Withholding) | 5.00 | 7/15/21 | 1,691 | ||||||||||||
1,165 | New York State Dormitory Authority Revenues Non State Supported Debt, Icahn School of Medicine at Mount Sinai, Series A | 5.00 | 7/1/21 | 1,284 | ||||||||||||
3,000 | New York State Dormitory Authority State Personal Income Tax Revenue, Series D | 5.00 | 2/15/23 | 3,465 | ||||||||||||
3,255 | New York State Transportation Development Corp. Special Facilities Revenue, Terminal One Group Associates | 5.00 | 1/1/21 | 3,534 | ||||||||||||
2,000 | Port Authority of New York & New Jersey New York Revenue, Consolidated 185th, AMT | 5.00 | 9/1/22 | 2,266 | ||||||||||||
4,500 | Port Authority of New York & New Jersey New York Revenue, Consolidated 185th, AMT | 5.00 | 9/1/23 | 5,204 | ||||||||||||
|
| |||||||||||||||
38,616 | ||||||||||||||||
|
| |||||||||||||||
North Carolina — 1.54% | ||||||||||||||||
1,000 | City of Charlotte NC Airport Revenue, Series C | 4.00 | 7/1/23 | 1,111 | ||||||||||||
1,000 | City of Charlotte NC Airport Revenue, Series C | 5.00 | 7/1/24 | 1,186 | ||||||||||||
2,275 | County of Mecklenburg North Carolina, GO, Series A | 5.00 | 4/1/23 | 2,649 | ||||||||||||
1,000 | North Carolina State Turnpike Authority Revenue (AGC) | 5.00 | 1/1/24 | 1,158 | ||||||||||||
|
| |||||||||||||||
6,104 | ||||||||||||||||
|
| |||||||||||||||
Ohio — 1.46% | ||||||||||||||||
1,750 | Ohio American Municipal Power, Inc. Revenue, Series A | 5.00 | 2/15/24 | 2,039 | ||||||||||||
835 | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System | 5.50 | 10/15/25 | 953 | ||||||||||||
2,500 | Montgomery County Ohio Revenue, Miami Valley Hospital, Series A, | 5.75 | 11/15/22 | 2,775 | ||||||||||||
|
| |||||||||||||||
5,767 | ||||||||||||||||
|
| |||||||||||||||
Oklahoma — 0.37% | ||||||||||||||||
1,275 | Grand River Oklahoma Dam Authority Revenue, Series A | 5.00 | 6/1/22 | 1,447 | ||||||||||||
|
| |||||||||||||||
Pennsylvania — 2.72% | ||||||||||||||||
2,500 | Pennsylvania State Turnpike Commission Revenue | 5.00 | 6/1/24 | 2,905 | ||||||||||||
3,000 | Philadelphia Pennsylvania Gas Works Revenue | 5.00 | 8/1/21 | 3,315 | ||||||||||||
2,500 | Philadelphia Pennsylvania School District, GO, Series C, Callable 9/1/20 @ 100.00 | 5.00 | 9/1/21 | 2,658 | ||||||||||||
1,700 | Southeastern Pennsylvania Transportation Authority Revenue | 5.00 | 3/1/23 | 1,958 | ||||||||||||
|
| |||||||||||||||
10,836 | ||||||||||||||||
|
| |||||||||||||||
Rhode Island — 0.85% | ||||||||||||||||
2,000 | Rhode Island Health & Educational Building Corp. Revenue | 5.00 | 5/15/23 | 2,250 | ||||||||||||
1,000 | Rhode Island State Student Loan Authority Student Loan Revenue, Series A, AMT | 5.00 | 12/1/22 | 1,111 | ||||||||||||
|
| |||||||||||||||
3,361 | ||||||||||||||||
|
| |||||||||||||||
South Carolina — 2.13% | ||||||||||||||||
3,680 | County of Charleston South Carolina, GO, Series A (State Aid Withholding) | 5.00 | 11/1/26 | 4,596 | ||||||||||||
3,500 | Piedmont Municipal Power Agency Electric Revenue, Series A-2, Callable 1/1/21 @ 100.00 | 5.00 | 1/1/22 | 3,791 | ||||||||||||
|
| |||||||||||||||
8,387 | ||||||||||||||||
|
| |||||||||||||||
Tennessee — 0.91% | ||||||||||||||||
2,000 | Tennessee State Energy Acquisition Corp. Gas Revenue, Series A (Goldman Sachs Group, Inc.) | 5.25 | 9/1/21 | 2,221 | ||||||||||||
1,250 | Tennessee State Energy Acquisition Corp. Gas Revenue, Series E, Callable 2/1/23 @ 100.43 | 4.00 | (a) | 5/1/48 | 1,369 | |||||||||||
|
| |||||||||||||||
3,590 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
180
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Texas — 17.00% | ||||||||||||||||
$ | 2,000 | Aldine Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/25 | $ | 2,398 | ||||||||||
1,650 | Allen Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/21 | 1,814 | ||||||||||||
1,000 | Austin Texas Community College District, GO | 5.00 | 8/1/23 | 1,166 | ||||||||||||
1,180 | Clifton Higher Education Finance Corp. Revenue (PSF-GTD) | 5.00 | 8/15/24 | 1,392 | ||||||||||||
2,200 | Clifton Higher Education Finance Corp. Revenue (PSF-GTD) | 5.00 | 8/15/25 | 2,637 | ||||||||||||
3,500 | Dallas-Fort Worth Texas International Airport Revenue, Series E | 5.00 | 11/1/22 | 3,952 | ||||||||||||
20 | Dallas Texas, GO, Series A (Pre-Refunded/Escrowed to Maturity) (ETM) | 5.00 | 2/15/18 | 20 | ||||||||||||
2,450 | City of Dallas TX, GO, Callable 2/15/25 @ 100.00 | 5.00 | 2/15/27 | 2,885 | ||||||||||||
2,500 | Dallas Independent School District, GO, Series A, Callable 2/15/25 @ 100.00 (PSF-GTD) | 5.00 | 2/15/27 | 2,991 | ||||||||||||
1,100 | Denton Texas Utility System Revenue | 5.00 | 12/1/22 | 1,257 | ||||||||||||
2,090 | Dickinson Texas Independent School District, GO (PSF-GTD) | 5.00 | 2/15/21 | 2,292 | ||||||||||||
1,000 | El Paso Texas Water & Sewer Revenue | 5.00 | 3/1/22 | 1,124 | ||||||||||||
3,235 | Harris County Houston Texas Sports Authority Revenue, Series A | 5.00 | 11/15/20 | 3,506 | ||||||||||||
2,095 | Harris County Texas Cultural Education Facilities Finance Corp. Medicine Facilities Revenue, Baylor College of Medicine | 5.00 | 11/15/23 | 2,431 | ||||||||||||
1,650 | Harris County Cultural Education Facilities Finance Corp. Revenue | 5.00 | 11/15/25 | 1,985 | ||||||||||||
1,450 | Houston Texas Community College Revenue | 5.00 | 4/15/21 | 1,598 | ||||||||||||
2,000 | Houston Texas Hotel Occupancy Tax & Special Revenue, Series A | 5.00 | 9/1/20 | 2,155 | ||||||||||||
2,500 | Houston Texas Utility System Revenue, Callable 11/1/19 @ 100.00 | | 2.61 (MUNIPSA + 90.00 bps) | (c) | 5/15/34 | 2,516 | ||||||||||
1,000 | Love Field Texas Airport Modernization Corp. General Airport Revenue, AMT | 5.00 | 11/1/22 | 1,132 | ||||||||||||
1,220 | Love Field Texas Airport Modernization Corp. General Airport Revenue, Callable 11/1/22 @ 100.00 | 5.00 | 11/1/28 | 1,350 | ||||||||||||
1,000 | Lower Colorado River Texas Authority Transmission Contract Revenue | 5.00 | 5/15/21 | 1,104 | ||||||||||||
1,000 | Lower Colorado River Texas Authority Transmission Contract Revenue | 5.00 | 5/15/22 | 1,128 | ||||||||||||
1,075 | Lower Colorado River Texas Authority Transmission Contract Revenue | 5.00 | 5/15/23 | 1,239 | ||||||||||||
1,695 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/22 | 1,898 | ||||||||||||
2,500 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/22 | 2,794 | ||||||||||||
1,000 | North Texas Tollway Authority Revenue, Series B, Callable 1/1/23 @ 100.00 | 5.00 | 1/1/26 | 1,144 | ||||||||||||
1,000 | Northside Texas Independent School District, GO (PSF-GTD) | 5.00 | 6/15/24 | 1,183 | ||||||||||||
2,000 | Plano Texas Independent School District, GO, Series B (PSF-GTD) | 5.00 | 2/15/21 | 2,198 | ||||||||||||
1,070 | Sam Rayburn Texas Municipal Power Agency Revenue | 5.00 | 10/1/20 | 1,166 | ||||||||||||
1,175 | San Antonio Texas Water Revenue, Junior Lien, Series A | 5.00 | 5/15/22 | 1,331 | ||||||||||||
1,505 | Texas A&M University Revenue, Series E | 5.00 | 5/15/23 | 1,749 | ||||||||||||
4,365 | Texas State College Student Loan, GO | 5.00 | 8/1/22 | 4,955 | ||||||||||||
3,000 | University of Texas Revenue, Series E | 5.00 | 8/15/23 | 3,511 | ||||||||||||
1,000 | West Travis County Public Utility Agency Revenue (BAM) | 5.00 | 8/15/26 | 1,206 | ||||||||||||
|
| |||||||||||||||
67,207 | ||||||||||||||||
|
| |||||||||||||||
Virginia — 1.48% | ||||||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority, Series A | 5.00 | 5/15/22 | 1,141 | ||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority, Series A | 5.00 | 5/15/23 | 1,168 | ||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority, Series A | 5.00 | 5/15/24 | 1,193 | ||||||||||||
2,000 | Virginia Commonwealth Transportation Board Revenue, Series A | 5.00 | 5/15/23 | 2,320 | ||||||||||||
|
| |||||||||||||||
5,822 | ||||||||||||||||
|
| |||||||||||||||
Washington — 3.14% | ||||||||||||||||
1,070 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/20 | 1,136 | ||||||||||||
1,650 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/21 | 1,797 | ||||||||||||
1,420 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B, AMT | 5.00 | 1/1/22 | 1,582 | ||||||||||||
1,000 | Port of Seattle Washington, GO, AMT, Callable 6/1/21 @ 100.00 | 5.25 | 12/1/21 | 1,115 |
See accompanying notes to financial statements.
181
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Washington (continued) | ||||||||||||||||
$ | 1,000 | Port of Seattle Washington Revenue, Series C, AMT | 5.00 | 4/1/22 | $ | 1,116 | ||||||||||
2,500 | Washington State, GO, Series B | 5.00 | 7/1/23 | 2,917 | ||||||||||||
2,500 | Washington State Motor Vehicle Fuel Tax, GO, Series C | 5.00 | 2/1/21 | 2,752 | ||||||||||||
|
| |||||||||||||||
12,415 | ||||||||||||||||
|
| |||||||||||||||
Wisconsin — 1.18% | ||||||||||||||||
1,000 | Public Finance Authority Wisconsin Lease Development Revenue | 5.00 | 3/1/22 | 1,118 | ||||||||||||
1,000 | Public Finance Authority Wisconsin Lease Development Revenue | 5.00 | 3/1/23 | 1,142 | ||||||||||||
1,000 | Wisconsin State Health & Educational Facilities Authority Health Facilities Revenue, Unity Point Health, Series A | 5.00 | 12/1/21 | 1,116 | ||||||||||||
1,155 | Wisconsin State Health & Educational Facilities Authority Revenue, Series A | 5.00 | 11/15/22 | 1,324 | ||||||||||||
|
| |||||||||||||||
4,700 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 368,334 | |||||||||||||||
|
| |||||||||||||||
Corporate Bond — 0.00% | ||||||||||||||||
3,939 | ASC Equipment (Trading Companies & Distributors) (d) | 5.13 | (e) | 3/1/08 | — | |||||||||||
|
| |||||||||||||||
Total Corporate Bond | — | |||||||||||||||
|
| |||||||||||||||
Time Deposit — 0.58% | ||||||||||||||||
2,303 | State Street Liquidity Management Control System Eurodollar Time Deposit | 0.39 | 1/2/18 | 2,303 | ||||||||||||
|
| |||||||||||||||
Total Time Deposit | 2,303 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 5.22% | ||||||||||||||||
20,662,649 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (e) | 20,663 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 20,663 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $393,159) — 98.90% | 391,300 | |||||||||||||||
Other assets in excess of liabilities — 1.10% | 4,366 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 395,666 | ||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Interest rate is determined by the Remarketing Agent. The rate presented is the rate in effect at December 31, 2017. |
(b) | This security has been deemed illiquid by the Specialist Manager and represents 0.02% of the Portfolio’s net assets. |
(c) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2017. |
(d) | Defaulted Bond. |
(e) | The rate disclosed is the rate in effect on December 31, 2017. |
AGC — Assured Guaranty Corp.
AGM — Assured Guaranty Municipal Corporation
AMT — Alternative Minimum Tax
bps — Basis Points
GO — General Obligation
MBIA — Municipal Bond Insurance Association
MUNIPSA — SIFMA Municipal Swap Index Yield
PSF-GTD — Public School Fund Guaranteed
Q-SBLF — Qualified School Bond Loan Fund
US0001M — 1 Month US Dollar LIBOR
See accompanying notes to financial statements.
182
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Intermediate Term Municipal Bond Portfolio | Standish Mellon Asset Management Company, LLC | HC Capital Solutions | Total | |||||||||
Municipal Bonds | 93.10 | % | — | 93.10 | % | |||||||
Corporate Bond | 0.00 | % | — | 0.00 | % | |||||||
Time Deposit | 0.58 | % | — | 0.58 | % | |||||||
Mutual Fund | — | 5.22 | % | 5.22 | % | |||||||
Other Assets (Liabilities) | 1.09 | % | 0.01 | % | 1.10 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 94.77 | % | 5.23 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
183
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 92.82% | ||||||||||||||||
Alabama — 5.97% | ||||||||||||||||
$ | 1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/19 | $ | 1,567 | ||||||||||
1,415 | Birmingham Alabama Special Care Facilities Financing Authority Health Care Facility, Callable 6/1/25 @ 100.00 | 5.00 | 6/1/29 | 1,649 | ||||||||||||
1,000 | Pell City Alabama, GO, Series A, Callable 2/1/25 @ 100.00 | 5.00 | 2/1/26 | 1,185 | ||||||||||||
250 | Tuscaloosa Alabama, GO, Series C | 3.00 | 1/1/18 | 250 | ||||||||||||
|
| |||||||||||||||
4,651 | ||||||||||||||||
|
| |||||||||||||||
Arizona — 0.83% | ||||||||||||||||
450 | Maricopa County Arizona Unified School District No. 48, GO | 5.00 | 7/1/21 | 500 | ||||||||||||
140 | Yuma County Arizona Jail District Revenue, Pledge Obligation | 5.00 | 7/1/20 | 151 | ||||||||||||
|
| |||||||||||||||
651 | ||||||||||||||||
|
| |||||||||||||||
California — 1.38% | ||||||||||||||||
620 | California State Department Water Resources Power Supply Revenue, Series L | 5.00 | 5/1/22 | 668 | ||||||||||||
380 | California State Department Water Resources Power Supply Revenue, Series L | 5.00 | 5/1/22 | 410 | ||||||||||||
|
| |||||||||||||||
1,078 | ||||||||||||||||
|
| |||||||||||||||
Florida — 12.75% | ||||||||||||||||
1,250 | Florida State Board of Education Lottery Revenue, Series A | 5.00 | 7/1/26 | 1,546 | ||||||||||||
1,525 | Florida Department of Environmental Protection Revenue, Series A | 5.00 | 7/1/24 | 1,813 | ||||||||||||
1,400 | Lee County Florida School Board Certificates of Participation, Series A, | 5.00 | 8/1/27 | 1,644 | ||||||||||||
750 | Miami-Dade County Florida, GO, Series A, Callable 11/1/24 @ 100.00 | 5.00 | 11/1/27 | �� | 894 | |||||||||||
1,000 | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | 5.25 | 10/1/20 | 1,094 | ||||||||||||
1,085 | Orange County Florida School Board Certificates of Participation, Series A | 5.00 | 8/1/23 | 1,260 | ||||||||||||
1,500 | West Palm Beach Florida Utility System Revenue, Series A, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/22 | 1,677 | ||||||||||||
|
| |||||||||||||||
9,928 | ||||||||||||||||
|
| |||||||||||||||
Hawaii — 2.10% | ||||||||||||||||
1,500 | Honolulu City & County Hawaii, GO, Series B, Callable 12/1/20 @ 100.00 | 5.00 | 12/1/23 | 1,639 | ||||||||||||
|
| |||||||||||||||
Idaho — 1.87% | ||||||||||||||||
1,285 | Idaho State Housing & Finance Association, Grant & Revenue Anticipation Federal Highway Trust, Series A | 5.00 | 7/15/22 | 1,455 | ||||||||||||
|
| |||||||||||||||
Iowa — 2.18% | ||||||||||||||||
1,410 | City of Bettendorf IA, GO, Series D | 5.00 | 6/1/25 | 1,702 | ||||||||||||
|
| |||||||||||||||
Kansas — 1.29% | ||||||||||||||||
850 | City of Olathe Kansas, GO, Series 230 | 5.00 | 10/1/23 | 994 | ||||||||||||
|
| |||||||||||||||
Maryland — 1.79% | ||||||||||||||||
1,330 | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | 5.00 | 7/1/19 | 1,396 | ||||||||||||
|
| |||||||||||||||
Massachusetts — 3.09% | ||||||||||||||||
1,000 | Massachusetts State Bay Transportation Authority Sales Tax Revenue | 4.00 | 12/1/21 | 1,086 | ||||||||||||
600 | Massachusetts State, GO, Series A | 5.00 | 3/1/23 | 695 | ||||||||||||
600 | Massachusetts State Water Resources Authority Revenue, Series A (Pre-Refunded/Escrowed to Maturity) | 5.00 | 8/1/39 | 632 | ||||||||||||
|
| |||||||||||||||
2,413 | ||||||||||||||||
|
| |||||||||||||||
Michigan — 1.30% | ||||||||||||||||
1,000 | Grand Rapids Michigan Community College, GO (AGM) | 5.00 | 5/1/18 | 1,012 | ||||||||||||
|
| |||||||||||||||
Minnesota — 0.53% | ||||||||||||||||
400 | Crow Wing County Minnesota, GO, Series A | 5.00 | 2/1/19 | 415 | ||||||||||||
|
| |||||||||||||||
Nebraska — 0.65% | ||||||||||||||||
500 | Lincoln Nebraska Waterworks Revenue | 3.00 | 8/15/18 | 505 | ||||||||||||
|
|
See accompanying notes to financial statements.
184
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (continued) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Nevada — 4.09% | ||||||||||||||||
$ | 800 | Clark County Nevada Highway Improvement Revenue | 5.00 | 7/1/23 | $ | 928 | ||||||||||
1,105 | Las Vegas Valley Nevada Water District, GO, Series B | 5.00 | 12/1/24 | 1,324 | ||||||||||||
800 | Nevada State System of Higher Education Certificates of Participation, Series A, | 5.00 | 7/1/26 | 938 | ||||||||||||
|
| |||||||||||||||
3,190 | ||||||||||||||||
|
| |||||||||||||||
New York — 4.57% | ||||||||||||||||
1,495 | New York City Transitional Finance Authority Revenue, Series D, Callable 2/1/21 @ 100.00 | 5.25 | 2/1/22 | 1,651 | ||||||||||||
1,000 | New York City Transitional Finance Authority Building Aid Revenue, Series S-1 (State Aid Withholding) | 5.00 | 7/15/23 | 1,165 | ||||||||||||
625 | New York State Dormitory Authority State Personal Income Tax Revenue, Series A, | 5.00 | 2/15/26 | 737 | ||||||||||||
|
| |||||||||||||||
3,553 | ||||||||||||||||
|
| |||||||||||||||
North Carolina — 4.88% | ||||||||||||||||
1,525 | North Carolina State Capital Facilities Finance Agency Educational Revenue | 5.00 | 1/1/38 | 1,577 | ||||||||||||
1,500 | North Carolina State Revenue, Series B | 5.00 | 5/1/27 | 1,867 | ||||||||||||
300 | University of North Carolina at Greensboro Revenue | 5.00 | 4/1/25 | 360 | ||||||||||||
|
| |||||||||||||||
3,804 | ||||||||||||||||
|
| |||||||||||||||
Ohio — 10.76% | ||||||||||||||||
700 | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | 5.00 | 2/15/27 | 812 | ||||||||||||
1,000 | Butler County Ohio Hospital Facilities Revenue, Series X | 5.00 | 5/15/29 | 1,239 | ||||||||||||
1,600 | Columbus Ohio State, GO, Series 1 (Pre-Refunded/Escrowed to Maturity) | 5.00 | 7/1/24 | 1,862 | ||||||||||||
1,400 | Cuyahoga County Ohio, GO, Series A | 5.00 | 12/1/19 | 1,489 | ||||||||||||
750 | Ohio State Building Authority State Facilities Revenue | 5.00 | 10/1/21 | 835 | ||||||||||||
1,000 | Ohio State Hospital Facility Revenue, Callable 1/1/28 @ 100.00 | 5.00 | 1/1/30 | 1,228 | ||||||||||||
800 | Ohio State University Revenue | 5.00 | 12/1/22 | 922 | ||||||||||||
|
| |||||||||||||||
8,387 | ||||||||||||||||
|
| |||||||||||||||
Pennsylvania — 3.39% | ||||||||||||||||
1,375 | Blairsville-Saltsburg School District, GO (BAM State Aid Withholding) | 5.00 | 3/15/23 | 1,568 | ||||||||||||
1,000 | Pennsylvania State, GO, Series A | 5.00 | 5/1/20 | 1,070 | ||||||||||||
|
| |||||||||||||||
2,638 | ||||||||||||||||
|
| |||||||||||||||
South Carolina — 1.46% | ||||||||||||||||
1,100 | Richland County School District No. 2, GO, Series A (SCSDE) | 5.00 | 2/1/20 | 1,141 | ||||||||||||
|
| |||||||||||||||
Texas — 15.16% | ||||||||||||||||
1,325 | Dallas Texas Area Rapid Transit Sales Tax Revenue (Insurance/Program BHAC-CR) | 5.25 | 12/1/48 | 1,369 | ||||||||||||
710 | Dallas Texas Waterworks & Sewer System Revenue | 5.00 | 10/1/23 | 790 | ||||||||||||
540 | Dallas Texas Waterworks & Sewer System Revenue, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/23 | 603 | ||||||||||||
875 | City of Denton Texas, GO | 5.00 | 2/15/21 | 961 | ||||||||||||
1,545 | Harris County Texas Revenue, Series A, Callable 8/15/26 @ 100.00 | 5.00 | 8/15/30 | 1,843 | ||||||||||||
1,500 | Harris County Texas Cultural Education Facilities Finance Corp. Revenue, Texas Children’s Hospital, Callable 10/1/25 @ 100.00 | 5.00 | 10/1/27 | 1,781 | ||||||||||||
300 | City of Pearland TX, GO, Callable 3/1/27 @ 100.00 | 5.00 | 3/1/29 | 366 | ||||||||||||
500 | Sugar Land Texas (Pre-Refunded/Escrowed to Maturity) | 5.00 | 2/15/21 | 519 | ||||||||||||
935 | Sugar Land Texas, Callable 2/15/19 @ 100.00 | 5.00 | 2/15/21 | 971 | ||||||||||||
1,500 | Texas State Water Development Board Revenue, Series A, Callable 10/15/25 @ 100.00 | 5.00 | 4/15/26 | 1,829 | ||||||||||||
515 | Webb County Texas, GO (Pre-Refunded/Escrowed to Maturity) | 4.50 | 2/15/19 | 532 | ||||||||||||
235 | Webb County Texas, GO | 4.50 | 2/15/19 | 243 | ||||||||||||
|
| |||||||||||||||
11,807 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
185
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — December 31, 2017 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Washington — 12.78% | ||||||||||||||||
$ | 1,000 | King County Washington, GO | 5.25 | 1/1/23 | $ | 1,166 | ||||||||||
1,250 | King County School District No 410 Snoqualmie Valley, GO, Callable 6/1/27 @ 100.00 | 5.00 | 12/1/27 | 1,552 | ||||||||||||
1,400 | King County Washington Sewer Revenue, Callable 1/1/22 @ 100.00 | 5.00 | 1/1/24 | 1,573 | ||||||||||||
750 | King County Washington Sewer Revenue | 5.00 | 1/1/20 | 800 | ||||||||||||
1,580 | Port of Seattle Washington Revenue, Intermediate Lien, Series B | 5.00 | 6/1/18 | 1,603 | ||||||||||||
1,540 | City of Spokane Washington Water & Wastewater System Revenue | 5.00 | 12/1/19 | 1,639 | ||||||||||||
1,500 | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | 5.00 | 12/1/22 | 1,616 | ||||||||||||
|
| |||||||||||||||
9,949 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 72,308 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Mutual Fund — 6.04% | ||||||||||||||||
4,704,794 | State Street Institutional Treasury Plus Money Market Fund | 1.15 | (a) | 4,705 | ||||||||||||
|
| |||||||||||||||
Total Mutual Fund | 4,705 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $75,370) — 98.86% | 77,013 | |||||||||||||||
|
| |||||||||||||||
Other assets in excess of liabilities — 1.14% | 886 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 77,899 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2017. |
AGM — Assured Guaranty Municipal Corporation
GO — General Obligation
GTY — Guaranty
SCSDE — Insured by South Carolina School Discount Enhancement
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager.
The Intermediate Term Municipal Bond II Portfolio | Breckinridge Capital Advisors, Inc. | HC Capital Solutions | Total | |||||||||
Municipal Bonds | 92.82 | % | — | 92.82 | % | |||||||
Mutual Fund | 1.15 | % | 4.89 | % | 6.04 | % | ||||||
Other Assets (Liabilities) | 1.14 | % | 0.00 | % | 1.14 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 95.11 | % | 4.89 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
186
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities
As of December 31, 2017 (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 | $ | 500,749 | $ | 740,746 | $ | 497,145 | $ | 719,457 | ||||||||
Repurchase agreements, at value and cost | 687 | 2,577 | 33 | 56 | ||||||||||||
Unrealized appreciation | 145,927 | 163,561 | 322,081 | 422,556 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments, at value | 647,363 | 906,884 | 819,259 | 1,142,069 | ||||||||||||
Cash | 128 | 134 | — | — | ||||||||||||
Foreign currency, at value (Cost $24, $19, $0 and $0, respectively) | 25 | 19 | — | — | ||||||||||||
Unrealized appreciation on futures contracts | 35 | 330 | — | 80 | ||||||||||||
Receivable for portfolio shares issued | 86 | 751 | 113 | 612 | ||||||||||||
Receivable from investments sold | — | 310 | 95 | 129 | ||||||||||||
Variation margin receivable on futures contracts | — | — | 1 | — | ||||||||||||
Margin deposits | 1,035 | 853 | 1,526 | 1,113 | ||||||||||||
Dividends and interest receivable | 920 | 1,226 | 553 | 772 | ||||||||||||
Foreign tax reclaims receivable | 1 | 2 | 45 | 50 | ||||||||||||
Prepaid expenses | 11 | 10 | 13 | 14 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 649,604 | 910,519 | 821,605 | 1,144,839 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Unrealized depreciation on futures contracts | 9 | — | 104 | — | ||||||||||||
Payable for investments purchased | 46 | 1,521 | 593 | 683 | ||||||||||||
Payable for portfolio shares redeemed | 21,026 | 6,511 | 24,516 | 11,894 | ||||||||||||
Payable for collateral received on loaned securities | 1,424 | 5,346 | 69 | 116 | ||||||||||||
Variation margin payable on futures contracts | 2 | 1 | 26 | 2 | ||||||||||||
Advisory fees payable | 217 | 299 | 211 | 276 | ||||||||||||
Management fees payable | 28 | 37 | 36 | 48 | ||||||||||||
Administrative services fees payable | 15 | 21 | 19 | 26 | ||||||||||||
Trustee fees payable | 8 | 10 | 9 | 11 | ||||||||||||
Other accrued expenses | 56 | 68 | 65 | 72 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 22,831 | 13,814 | 25,648 | 13,128 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 626,773 | $ | 896,705 | $ | 795,957 | $ | 1,131,711 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 31 | $ | 67 | $ | 36 | $ | 66 | ||||||||
Additional paid-in capital | 477,703 | 735,828 | 454,532 | 700,636 | ||||||||||||
Accumulated net investment income | 672 | 31 | 446 | — | ||||||||||||
Accumulated net realized gain/(loss) from investment transactions | 2,412 | (3,114 | ) | 18,965 | 8,370 | |||||||||||
Net unrealized appreciation on investments | 145,955 | 163,893 | 321,978 | 422,639 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 626,773 | $ | 896,705 | $ | 795,957 | $ | 1,131,711 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 625,888 | $ | 895,142 | $ | 794,828 | $ | 1,129,626 | ||||||||
HC Advisors Shares | 885 | 1,563 | 1,129 | 2,085 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 626,773 | $ | 896,705 | $ | 795,957 | $ | 1,131,711 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 30,580 | 67,283 | 35,932 | 65,773 | ||||||||||||
HC Advisors Shares | 43 | 118 | 51 | 121 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 30,623 | 67,401 | 35,983 | 65,894 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 20.47 | $ | 13.30 | $ | 22.12 | $ | 17.17 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 20.46 | $ | 13.31 | $ | 22.08 | $ | 17.18 | ||||||||
|
|
|
|
|
|
|
|
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.
187
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2017 (Unaudited)
(Amounts in thousands, except per share amounts)
The Small Capitalization– Mid Capitalization Equity Portfolio | The Institutional Small Capitalization– Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 83,496 | $ | 117,738 | $ | 107,248 | $ | 687,881 | ||||||||
Repurchase agreements, at value and cost | 164 | 407 | — | 49,402 | ||||||||||||
Unrealized appreciation | 29,048 | 44,934 | 19,035 | 149,004 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments, at value | 112,708 | 163,079 | 126,283 | 886,287 | ||||||||||||
Cash | 39 | 21 | 31 | 478 | ||||||||||||
Foreign currency, at value (Cost $0, $0, $5 and $8,135, respectively) | — | — | 5 | 8,344 | ||||||||||||
Swap agreements, at value | — | — | — | 1,182 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | 3 | ||||||||||||
Unrealized appreciation on futures contracts | — | 22 | 14 | 2,006 | ||||||||||||
Receivable for portfolio shares issued | 19 | 18 | 6 | 67 | ||||||||||||
Receivable from investments sold | 62 | 77 | — | 186 | ||||||||||||
Variation margin receivable on futures contracts | 1 | — | — | 25 | ||||||||||||
Variation margin receivable on swap agreements | — | — | — | 2 | ||||||||||||
Margin deposits | 551 | 250 | 327 | 1,944 | ||||||||||||
Dividends and interest receivable | 186 | 306 | 404 | 1,504 | ||||||||||||
Foreign tax reclaims receivable | — | — | — | 212 | ||||||||||||
Prepaid expenses | 4 | 3 | 4 | 10 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 113,570 | 163,776 | 127,074 | 902,250 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Swap agreements, at value | — | — | — | 87 | ||||||||||||
Written options, at fair value (Premiums received $0, $0, $0 and $10, respectively | — | — | — | 15 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 11 | ||||||||||||
Unrealized depreciation on futures contracts | 19 | — | — | 440 | ||||||||||||
Payable for investments purchased | 134 | 231 | — | 342 | ||||||||||||
Payable for portfolio shares redeemed | 8,655 | 1,189 | 1,230 | 3,128 | ||||||||||||
Payable for collateral received on loaned securities | 340 | 844 | — | 18,885 | ||||||||||||
Payable to broker for futures collateral | — | — | — | 342 | ||||||||||||
Payable to broker for swap collateral | — | — | — | 690 | ||||||||||||
Variation margin payable on futures contracts | — | — | — | 11 | ||||||||||||
Variation margin payable on swap agreements | — | — | — | 6 | ||||||||||||
Accrued foreign capital gains tax | — | — | — | 253 | ||||||||||||
Advisory fees payable | 74 | 81 | 184 | 134 | ||||||||||||
Management fees payable | 4 | 7 | 5 | 37 | ||||||||||||
Administrative services fees payable | 3 | 4 | 3 | 20 | ||||||||||||
Trustee fees payable | 2 | 1 | 1 | 11 | ||||||||||||
Other accrued expenses | 20 | 12 | 12 | 135 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 9,251 | 2,369 | 1,435 | 24,547 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 104,319 | $ | 161,407 | $ | 125,639 | $ | 877,703 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 4 | $ | 10 | $ | 43 | $ | 91 | ||||||||
Additional paid-in capital | 75,380 | 115,145 | 106,273 | 882,461 | ||||||||||||
Accumulated net investment income/(distributions in excess of | 167 | 197 | (148 | ) | (1,575 | ) | ||||||||||
Accumulated net realized gain/(loss) from investment transactions | (261 | ) | 1,099 | 422 | (154,334 | ) | ||||||||||
Net unrealized appreciation on investments | 29,029 | 44,956 | 19,049 | 151,060 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 104,319 | $ | 161,407 | $ | 125,639 | $ | 877,703 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 104,174 | $ | 161,164 | $ | 125,639 | $ | 876,472 | ||||||||
HC Advisors Shares | 145 | 243 | — | 1,231 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 104,319 | $ | 161,407 | $ | 125,639 | $ | 877,703 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 3,816 | 9,491 | 42,562 | 90,728 | ||||||||||||
HC Advisors Shares | 5 | 14 | — | 127 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 3,821 | 9,505 | 42,562 | 90,855 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(b) | ||||||||||||||||
HC Strategic Shares | $ | 27.30 | $ | 16.98 | $ | 2.95 | $ | 9.66 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 27.27 | $ | 16.98 | $ | — | $ | 9.66 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. See Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
(b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
188
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2017 (Unaudited)
(Amounts in thousands, except per share amounts)
The ESG Growth Portfolio | The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 136,056 | $ | 24,917 | $ | 1,110,740 | $ | 2,276,354 | ||||||||
Repurchase agreements, at value and cost | — | 2 | 6,092 | 18,778 | ||||||||||||
Unrealized appreciation | 24,870 | 6,048 | 228,591 | 407,649 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments, at value | 160,926 | 30,967 | 1,345,423 | 2,702,781 | ||||||||||||
Cash | 49 | — | 3 | 809 | ||||||||||||
Foreign currency, at value (Cost $302, $64, $197 and $5,432, respectively) | 306 | 65 | 199 | 5,494 | ||||||||||||
Unrealized appreciation on futures contracts | — | — | 313 | 1,399 | ||||||||||||
Receivable for portfolio shares issued | — | — | 25,303 | 558 | ||||||||||||
Receivable from investments sold | — | — | 10,855 | 1,599 | ||||||||||||
Variation margin receivable on futures contracts | — | — | 3 | — | ||||||||||||
Margin deposits | — | — | 2,065 | 3,458 | ||||||||||||
Dividends and interest receivable | 258 | 53 | 2,072 | 4,215 | ||||||||||||
Foreign tax reclaims receivable | 133 | 23 | 1,626 | 3,935 | ||||||||||||
Prepaid expenses | 3 | — | 19 | 32 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 161,675 | 31,108 | 1,387,881 | 2,724,280 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Unrealized depreciation on forward currency contracts | — | — | 19 | 3 | ||||||||||||
Payable for investments purchased | — | — | 828 | 2,260 | ||||||||||||
Payable for portfolio shares redeemed | — | — | 49,079 | 24,066 | ||||||||||||
Payable for collateral received on loaned securities | — | 3 | 12,640 | 38,961 | ||||||||||||
Advisory fees payable | 11 | 1 | 335 | 586 | ||||||||||||
Management fees payable | 7 | 1 | 58 | 114 | ||||||||||||
Administrative services fees payable | 4 | 1 | 31 | 62 | ||||||||||||
Trustee fees payable | 2 | 1 | 17 | 27 | ||||||||||||
Fund accounting fees payable | 8 | 12 | 9 | 10 | ||||||||||||
Custodian fees payable | 11 | 7 | 81 | 124 | ||||||||||||
Other accrued expenses | 22 | 12 | 125 | 156 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 65 | 38 | 63,222 | 66,369 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 161,610 | $ | 31,070 | $ | 1,324,659 | $ | 2,657,911 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 14 | $ | 2 | $ | 115 | $ | 239 | ||||||||
Additional paid-in capital | 138,343 | 24,684 | 1,113,691 | 2,271,975 | ||||||||||||
Accumulated net investment income/(distributions in excess of | (330 | ) | (82 | ) | 9,804 | (23,042 | ) | |||||||||
Accumulated net realized gain/(loss) from investment transactions | (1,297 | ) | 416 | (27,812 | ) | (143 | ) | |||||||||
Net unrealized appreciation on investments | 24,880 | 6,050 | 228,861 | 408,882 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 161,610 | $ | 31,070 | $ | 1,324,659 | $ | 2,657,911 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 161,609 | $ | 31,069 | $ | 1,322,309 | $ | 2,653,727 | ||||||||
HC Advisors Shares | 1 | 1 | 2,350 | 4,184 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 161,610 | $ | 31,070 | $ | 1,324,659 | $ | 2,657,911 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 13,931 | 2,406 | 114,724 | 238,213 | ||||||||||||
HC Advisors Shares | — | — | 204 | 376 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 13,931 | 2,406 | 114,928 | 238,589 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 11.60 | $ | 12.91 | $ | 11.53 | $ | 11.14 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 11.60 | $ | 12.92 | $ | 11.53 | $ | 11.13 | ||||||||
|
|
|
|
|
|
|
|
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.
189
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2017 (Unaudited)
(Amounts in thousands, except per share amounts)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 1,568,547 | $ | 92,856 | $ | 669,183 | $ | 214,287 | ||||||||
Repurchase agreements, at value and cost | 5,241 | — | 6,862 | — | ||||||||||||
Unrealized appreciation | 254,741 | 652 | 21,342 | 444 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments, at value | 1,828,529 | 93,508 | 697,387 | 214,731 | ||||||||||||
Cash | 756 | — | 35 | — | ||||||||||||
Foreign currency, at value (Cost $5,865, $0, $0 and $0, respectively) | 5,992 | — | — | — | ||||||||||||
Unrealized appreciation on forward currency contracts | — | — | — | — | ||||||||||||
Unrealized appreciation on futures contracts | 2,550 | — | 100 | — | ||||||||||||
Receivable for portfolio shares issued | 245 | 178 | 110 | 1 | ||||||||||||
Receivable from investments sold | 2,575 | 1,342 | — | 5,350 | ||||||||||||
Margin deposits | 129 | — | 638 | — | ||||||||||||
Dividends and interest receivable | 3,781 | 461 | 7,210 | 1,179 | ||||||||||||
Foreign tax reclaims receivable | 10 | — | — | — | ||||||||||||
TBA sale commitments receivable | — | 415 | — | — | ||||||||||||
Prepaid expenses | 32 | 5 | 12 | 11 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 1,844,599 | 95,909 | 705,492 | 221,272 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Payable to custodian | — | 109 | — | — | ||||||||||||
Swap agreements, at value | — | — | 252 | — | ||||||||||||
Written options, at fair value (Premiums received $0, $0, $46 and $0, respectively) | — | — | 7 | — | ||||||||||||
Distributions payable | — | 181 | — | 82 | ||||||||||||
Unrealized depreciation on future contracts | — | — | 78 | — | ||||||||||||
Payable for investments purchased | 2,327 | 3,755 | — | 5,251 | ||||||||||||
Payable for portfolio shares redeemed | 16,091 | 19,388 | 11,355 | 11 | ||||||||||||
Payable for collateral received on loaned securities | 10,874 | — | 14,237 | — | ||||||||||||
Accrued foreign capital gains tax | 2,153 | — | — | — | ||||||||||||
TBA sale commitments, at fair value | — | 414 | — | — | ||||||||||||
Advisory fees payable | 1,087 | 5 | 338 | 11 | ||||||||||||
Management fees payable | 76 | 4 | 29 | 9 | ||||||||||||
Administrative services fees payable | 42 | 2 | 16 | 5 | ||||||||||||
Trustee fees payable | 17 | 1 | 6 | 2 | ||||||||||||
Other accrued expenses | 423 | 24 | 61 | 17 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 33,090 | 23,883 | 26,379 | 5,388 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 1,811,509 | $ | 72,026 | $ | 679,113 | $ | 215,884 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 93 | $ | 7 | $ | 97 | $ | 22 | ||||||||
Additional paid-in capital | 1,682,432 | 71,442 | 709,926 | 216,062 | ||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | (21,547 | ) | (17 | ) | 40 | (3 | ) | |||||||||
Accumulated net realized loss from investment transactions | (104,749 | ) | (59 | ) | (52,307 | ) | (641 | ) | ||||||||
Net unrealized appreciation on investments | 255,280 | 653 | 21,357 | 444 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 1,811,509 | $ | 72,026 | $ | 679,113 | $ | 215,884 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 1,808,701 | $ | 68,940 | $ | 678,295 | $ | 215,884 | ||||||||
HC Advisors Shares | 2,808 | 3,086 | 818 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 1,811,509 | $ | 72,026 | $ | 679,113 | $ | 215,884 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 92,559 | 7,022 | 97,232 | 22,054 | ||||||||||||
HC Advisors Shares | 144 | 314 | 118 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 92,703 | 7,336 | 97,350 | 22,054 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 19.54 | $ | 9.81 | $ | 6.97 | $ | 9.79 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 19.54 | $ | 9.81 | $ | 6.97 | $ | — | ||||||||
|
|
|
|
|
|
|
|
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.
190
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2017 (Unaudited)
(Amounts in thousands, except per share amounts)
The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments, at cost | $ | 373,724 | $ | 260,412 | $ | 215,384 | $ | 17,111 | ||||||||
Unrealized appreciation/(depreciation) | 6,443 | 4,916 | (79 | ) | (72 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments, at value | 380,167 | 265,328 | 215,305 | 17,039 | ||||||||||||
Receivable for portfolio shares issued | — | 1 | 1 | — | ||||||||||||
Receivable from investments sold | 4,354 | 110 | 4,220 | — | ||||||||||||
Dividends and interest receivable | 1,120 | 2,402 | 478 | 231 | ||||||||||||
TBA sale commitments receivable | — | — | 1,635 | — | ||||||||||||
Prepaid expenses | 16 | 10 | 9 | 6 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 385,657 | 267,851 | 221,648 | 17,276 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Distributions payable | 619 | 155 | 111 | — | ||||||||||||
Payable for investments purchased | 4,332 | 1,307 | 28,646 | — | ||||||||||||
Payable for portfolio shares redeemed | 4,907 | 16 | 16 | 2 | ||||||||||||
TBA sale commitments, at fair value | — | — | 1,634 | — | ||||||||||||
Income payable on TBA sale commitments | — | — | 3 | — | ||||||||||||
Advisory fees payable | 12 | 15 | 9 | 2 | ||||||||||||
Management fees payable | 16 | 11 | 8 | 1 | ||||||||||||
Administrative services fees payable | 9 | 6 | 4 | — | ||||||||||||
Trustee fees payable | 4 | 2 | 1 | — | ||||||||||||
Other accrued expenses | 25 | 18 | 22 | 2 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 9,924 | 1,530 | 30,454 | 7 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 375,733 | $ | 266,321 | $ | 191,194 | $ | 17,269 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 37 | $ | 26 | $ | 20 | $ | 2 | ||||||||
Additional paid-in capital | 370,466 | 260,892 | 199,604 | 17,356 | ||||||||||||
Accumulated net investment income/(distributions in excess of | (6 | ) | (19 | ) | (515 | ) | (14 | ) | ||||||||
Accumulated net realized gain/(loss) from investment transactions | (1,207 | ) | 506 | (7,837 | ) | (3 | ) | |||||||||
Net unrealized appreciation/(depreciation) on investments | 6,443 | 4,916 | (78 | ) | (72 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 375,733 | $ | 266,321 | $ | 191,194 | $ | 17,269 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 375,732 | $ | 266,321 | $ | 191,194 | $ | 17,269 | ||||||||
HC Advisors Shares | 1 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 375,733 | $ | 266,321 | $ | 191,194 | $ | 17,269 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 37,207 | 26,409 | 20,027 | 1,763 | ||||||||||||
HC Advisors Shares | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 37,207 | 26,409 | 20,027 | 1,763 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 10.10 | $ | 10.08 | $ | 9.55 | $ | 9.79 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 10.10 | $ | — | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
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.
191
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of December 31, 2017 (Unaudited)
(Amounts in thousands, except per share amounts)
The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | |||||||
ASSETS: | ||||||||
Investments, at cost | $ | 393,159 | $ | 75,370 | ||||
Unrealized appreciation/(depreciation) | (1,859 | ) | 1,643 | |||||
|
|
|
| |||||
Investments, at value | 391,300 | 77,013 | ||||||
Receivable for portfolio shares issued | 162 | 42 | ||||||
Dividends and interest receivable | 4,672 | 902 | ||||||
Prepaid expenses | 6 | 2 | ||||||
|
|
|
| |||||
Total assets | 396,140 | 77,959 | ||||||
|
|
|
| |||||
LIABILITIES: | ||||||||
Distributions payable | 54 | 12 | ||||||
Payable for portfolio shares redeemed | 202 | 27 | ||||||
Advisory fees payable | 156 | 8 | ||||||
Management fees payable | 17 | 3 | ||||||
Administrative services fees payable | 9 | 2 | ||||||
Trustee fees payable | 4 | 1 | ||||||
Other accrued expenses | 32 | 7 | ||||||
|
|
|
| |||||
Total liabilities | 474 | 60 | ||||||
|
|
|
| |||||
NET ASSETS | $ | 395,666 | $ | 77,899 | ||||
|
|
|
| |||||
NET ASSETS CONSISTS OF: | ||||||||
Shares of beneficial interest, at par value | $ | 40 | $ | 8 | ||||
Additional paid-in capital | 399,024 | 76,236 | ||||||
Accumulated net investment income/(distributions in excess of net investment income) | (80 | ) | (18 | ) | ||||
Accumulated net realized gain/(loss) from investment transactions | (1,459 | ) | 30 | |||||
Net unrealized appreciation/(depreciation) on investments | (1,859 | ) | 1,643 | |||||
|
|
|
| |||||
Net Assets | $ | 395,666 | $ | 77,899 | ||||
|
|
|
| |||||
NET ASSETS: | ||||||||
HC Strategic Shares | $ | 394,225 | $ | 77,524 | ||||
HC Advisors Shares | 1,441 | 375 | ||||||
|
|
|
| |||||
Total | $ | 395,666 | $ | 77,899 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||
HC Strategic Shares | 39,494 | 7,583 | ||||||
HC Advisors Shares | 144 | 37 | ||||||
|
|
|
| |||||
Total | 39,638 | 7,620 | ||||||
|
|
|
| |||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||
HC Strategic Shares | $ | 9.98 | $ | 10.22 | ||||
|
|
|
| |||||
HC Advisors Shares | $ | 9.98 | $ | 10.22 | ||||
|
|
|
|
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
192
Table of Contents
HC CAPITAL TRUST
For the Six Months Ended December 31, 2017 (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 | $ | 13 | $ | 24 | $ | 55 | $ | 40 | ||||||||
Dividends (net of foreign withholding tax of $0, $10, $0 and $0, respectively) | 7,495 | 9,569 | 4,763 | 6,749 | ||||||||||||
Income from securities lending (net of fees of $13, $16, $6 and $6, respectively) | 52 | 63 | 21 | 26 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 7,560 | 9,656 | 4,839 | 6,815 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 517 | 697 | 773 | 942 | ||||||||||||
Management fees | 158 | 211 | 205 | 274 | ||||||||||||
Administrative services fees | 89 | 118 | 113 | 150 | ||||||||||||
Distribution fees – HC Advisors Shares | 1 | 2 | 1 | 3 | ||||||||||||
Professional fees | 40 | 53 | 51 | 70 | ||||||||||||
Transfer agent fees | 8 | 10 | 10 | 14 | ||||||||||||
Compliance service fees | 5 | 7 | 7 | 9 | ||||||||||||
Custodian fees | 28 | 35 | 34 | 45 | ||||||||||||
Registration and filing fees | 11 | 11 | 11 | 12 | ||||||||||||
Trustee fees | 19 | 25 | 25 | 33 | ||||||||||||
Other | 32 | 37 | 36 | 40 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 908 | 1,206 | 1,266 | 1,592 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (1 | ) | (2 | ) | (1 | ) | (3 | ) | ||||||||
Expenses paid indirectly | (13 | ) | (22 | ) | (7 | ) | (7 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 894 | 1,182 | 1,258 | 1,582 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 6,666 | 8,474 | 3,581 | 5,233 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | 23,213 | 14,121 | 38,240 | 33,800 | ||||||||||||
Net realized gains/(losses) from futures transactions | 1,024 | 4,948 | 1,722 | 1,339 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures | 24,237 | 19,069 | 39,962 | 35,139 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | 33,010 | 54,371 | 43,548 | 76,186 | ||||||||||||
Change in unrealized appreciation/(depreciation) on futures | 225 | 498 | 312 | 293 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures | 33,235 | 54,869 | 43,860 | 76,479 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures transactions | 57,472 | 73,938 | 83,822 | 111,618 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | 64,138 | $ | 82,412 | $ | 87,403 | $ | 116,851 | ||||||||
|
|
|
|
|
|
|
|
See accompanying notes to financial statements.
193
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2017 (Unaudited)
(Amounts in thousands)
The Small Capitalization– Mid Capitalization Equity Portfolio | The Institutional Small Capitalization– Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 9 | $ | 12 | $ | 2 | $ | 932 | ||||||||
Dividends (net of foreign withholding tax of $1, $1, $0 and $834, respectively) | 692 | 1,026 | 1,565 | 9,863 | ||||||||||||
Income from securities lending (net of fees of $5, $11, $0 and $24, respectively) | 20 | 41 | — | 94 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 721 | 1,079 | 1,567 | 10,889 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 349 | 463 | 376 | 993 | ||||||||||||
Management fees | 28 | 38 | 31 | 208 | ||||||||||||
Administrative services fees | 18 | 23 | 17 | 129 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | 1 | ||||||||||||
Professional fees | 10 | 11 | 7 | 58 | ||||||||||||
Transfer agent fees | 2 | 2 | 1 | 10 | ||||||||||||
Compliance service fees | 1 | 1 | 1 | 7 | ||||||||||||
Custodian fees | 12 | 13 | 7 | 107 | ||||||||||||
Registration and filing fees | 11 | 12 | 13 | 11 | ||||||||||||
Trustee fees | 4 | 5 | 4 | 25 | ||||||||||||
Other | 15 | 6 | 5 | 62 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 450 | 574 | 462 | 1,611 | ||||||||||||
Less: Expenses waived by Specialist Manager | — | — | — | (102 | ) | |||||||||||
Distribution fees waived – HC Advisors Shares | — | — | — | (1 | ) | |||||||||||
Expenses paid indirectly | (5 | ) | (1 | ) | — | (1 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 445 | 573 | 462 | 1,507 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 276 | 506 | 1,105 | 9,382 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | 6,329 | 6,392 | 1,387 | 6,556 | ||||||||||||
Net realized gains/(losses) from futures transactions | 182 | 351 | 257 | 5,786 | ||||||||||||
Net realized gains/(losses) from options and swaptions transactions | — | — | — | 28 | ||||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | 1,031 | ||||||||||||
Net realized gains/(losses) from forward currency contracts | — | — | — | 24 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, options and swaptions, swap transactions, and forward currency contracts | 6,511 | 6,743 | 1,644 | 13,425 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | 2,028 | 5,399 | (693 | ) | 96,690 | |||||||||||
Change in unrealized appreciation/(depreciation) on futures | 1 | 43 | 33 | 1,257 | ||||||||||||
Change in unrealized appreciation/(depreciation) on options and swaptions | — | — | — | 1 | ||||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | 680 | ||||||||||||
Change in unrealized appreciation/(depreciation) on forward currency contracts | — | — | — | (14 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, swap transactions, and foreign currency translations | 2,029 | 5,442 | (660 | ) | 98,614 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures transactions, written options, swap transactions, and foreign currency transactions | 8,540 | 12,185 | 984 | 112,039 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | 8,816 | $ | 12,691 | $ | 2,089 | $ | 121,421 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. See Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
See accompanying notes to financial statements.
194
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2017 (Unaudited)
(Amounts in thousands)
The ESG Growth Portfolio | The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | — | $ | — | $ | 43 | $ | 66 | ||||||||
Dividends (net of foreign withholding tax of $114, $23, $1,339 and $2,721, respectively) | 1,822 | 350 | 15,663 | 33,635 | ||||||||||||
Income from securities lending (net of fees of $0, $0, $37 and $73, respectively) | — | — | 121 | 260 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 1,822 | 350 | 15,827 | 33,961 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 98 | 17 | 1,913 | 3,352 | ||||||||||||
Management fees | 39 | 7 | 325 | 649 | ||||||||||||
Administrative services fees | 35 | 18 | 193 | 375 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | 3 | 5 | ||||||||||||
Professional fees | 14 | 6 | 83 | 166 | ||||||||||||
Transfer agent fees | 2 | — | 16 | 32 | ||||||||||||
Compliance service fees | 1 | — | 10 | 21 | ||||||||||||
Custodian fees | 16 | 7 | 150 | 291 | ||||||||||||
Registration and filing fees | 16 | — | 11 | 11 | ||||||||||||
Trustee fees | 4 | 1 | 37 | 76 | ||||||||||||
Other | 9 | 6 | 102 | 134 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 234 | 62 | 2,843 | 5,112 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | (3 | ) | (5 | ) | ||||||||||
Expenses paid indirectly | — | — | (5 | ) | (8 | ) | ||||||||||
Expenses waived and/or reimbursed by Advisor | — | (16 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 234 | 46 | 2,835 | 5,099 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 1,588 | 304 | 12,992 | 28,862 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | 1,205 | 400 | 21,385 | 44,550 | ||||||||||||
Net realized gains/(losses) from futures transactions | 65 | — | 1,914 | 9,312 | ||||||||||||
Net realized gains/(losses) from forward currency contracts | 3 | 1 | (3 | ) | 59 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, and forward currency contracts | 1,273 | 401 | 23,296 | 53,921 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | 12,401 | 2,470 | 89,007 | 155,670 | ||||||||||||
Change in unrealized appreciation/(depreciation) on futures | — | — | (97 | ) | 539 | |||||||||||
Change in unrealized appreciation/(depreciation) on forward currency contracts | — | — | (19 | ) | (3 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures and foreign currency translations | 12,401 | 2,470 | 88,891 | 156,206 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures transactions, and foreign currency transactions | 13,674 | 2,871 | 112,187 | 210,127 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | 15,262 | $ | 3,175 | $ | 125,179 | $ | 238,989 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
195
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2017 (Unaudited)
(Amounts in thousands)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 47 | $ | 1,076 | $ | 18,612 | $ | 2,047 | ||||||||
Dividends (net of foreign withholding tax of $3,344, $0, $0 and $0, respectively) | 24,771 | 37 | 1,362 | — | ||||||||||||
Income from securities lending (net of fees of $41, $0, $39 and $0, respectively) | 162 | — | 153 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 24,980 | 1,113 | 20,127 | 2,047 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 4,043 | 29 | 1,076 | 63 | ||||||||||||
Management fees | 452 | 23 | 174 | 54 | ||||||||||||
Administrative services fees | 261 | 60 | 116 | 45 | ||||||||||||
Distribution fees – HC Advisors Shares | 4 | 4 | 1 | — | ||||||||||||
Professional fees | 137 | 6 | 40 | 13 | ||||||||||||
Transfer agent fees | 23 | 1 | 8 | 3 | ||||||||||||
Compliance service fees | 16 | 1 | 5 | 2 | ||||||||||||
Custodian fees | 925 | 9 | 42 | 9 | ||||||||||||
Registration and filing fees | 4 | 6 | 7 | 4 | ||||||||||||
Trustee fees | 56 | 3 | 19 | 6 | ||||||||||||
Other | 76 | 6 | 24 | 8 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 5,997 | 148 | 1,512 | 207 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (4 | ) | (4 | ) | (1 | ) | — | |||||||||
Expenses paid indirectly | (7 | ) | — | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 5,986 | 144 | 1,511 | 207 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 18,994 | 969 | 18,616 | 1,840 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | 34,758 | 235 | 5,154 | (108 | ) | |||||||||||
Net realized gains/(losses) from futures transactions | 5,808 | — | (169 | ) | — | |||||||||||
Net realized gains/(losses) from options and swaptions transactions | — | — | (308 | ) | — | |||||||||||
Net realized gains/(losses) from swap transactions | — | — | (18 | ) | — | |||||||||||
Net realized gains/(losses) from forward currency contracts | 98 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, options and swaptions, swap transactions, and forward currency contracts | 40,664 | 235 | 4,659 | (108 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations (net of deferred foreign tax) | 133,153 | (14 | ) | (362 | ) | (1,060 | ) | |||||||||
Change in unrealized appreciation/(depreciation) on futures | 2,768 | — | 7 | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on options and swaptions | — | — | (42 | ) | — | |||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | (50 | ) | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, written options, and foreign currency translations | 135,921 | (14 | ) | (447 | ) | (1,060 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures transactions, written options, swap transactions, and foreign currency transactions | 176,585 | 221 | 4,212 | (1,168 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | 195,579 | $ | 1,190 | $ | 22,828 | $ | 672 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
196
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2017 (Unaudited)
(Amounts in thousands)
The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 3,777 | $ | 3,859 | $ | 2,166 | $ | 125 | ||||||||
Dividends | 80 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 3,857 | 3,859 | 2,166 | 125 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 72 | 88 | 53 | 11 | ||||||||||||
Management fees | 94 | 66 | 47 | 4 | ||||||||||||
Administrative services fees | 52 | 44 | 67 | 6 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | — | ||||||||||||
Professional fees | 23 | 16 | 12 | 1 | ||||||||||||
Transfer agent fees | 5 | 3 | 2 | — | ||||||||||||
Compliance service fees | 3 | 2 | 2 | — | ||||||||||||
Custodian fees | 15 | 11 | 11 | 1 | ||||||||||||
Registration and filing fees | 9 | 5 | 4 | 5 | ||||||||||||
Trustee fees | 11 | 8 | 6 | 1 | ||||||||||||
Other | 13 | 9 | 8 | 2 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers | 297 | 252 | 212 | 31 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 297 | 252 | 212 | 31 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 3,560 | 3,607 | 1,954 | 94 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investment transactions | (178 | ) | 1,327 | 9 | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments | 4,243 | 1,103 | (285 | ) | (121 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments | 4,065 | 2,430 | (276 | ) | (121 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | 7,625 | $ | 6,037 | $ | 1,678 | $ | (27 | ) | |||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
197
Table of Contents
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Six Months Ended December 31, 2017 (Unaudited)
(Amounts in thousands)
The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | |||||||
INVESTMENT INCOME: | ||||||||
Interest | $ | 4,301 | $ | 905 | ||||
|
|
|
| |||||
Total Investment Income | 4,301 | 905 | ||||||
|
|
|
| |||||
EXPENSES: | ||||||||
Advisory fees | 312 | 46 | ||||||
Management fees | 99 | 19 | ||||||
Administrative services fees | 67 | 16 | ||||||
Distribution fees – HC Advisors Shares | 2 | — | ||||||
Professional fees | 23 | 5 | ||||||
Transfer agent fees | 5 | 1 | ||||||
Compliance service fees | 3 | 1 | ||||||
Custodian fees | 14 | 4 | ||||||
Registration and filing fees | 9 | 9 | ||||||
Trustee fees | 11 | 2 | ||||||
Other | 12 | 3 | ||||||
|
|
|
| |||||
Total expenses before waivers | 557 | 106 | ||||||
Less: Distribution fees waived – HC Advisors Shares | (2 | ) | — | |||||
|
|
|
| |||||
Net Expenses | 555 | 106 | ||||||
|
|
|
| |||||
Net Investment Income | 3,746 | 799 | ||||||
|
|
|
| |||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||
Net realized gains/(losses) from investment transactions | 642 | 31 | ||||||
|
|
|
| |||||
Change in unrealized appreciation/(depreciation) on investments | (4,297 | ) | (545 | ) | ||||
|
|
|
| |||||
Net realized/unrealized gains/(losses) from investments | (3,655 | ) | (514 | ) | ||||
|
|
|
| |||||
Change in net assets resulting from operations | $ | 91 | $ | 285 | ||||
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
198
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets
(Amounts in thousands)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 6,666 | $ | 13,490 | $ | 8,474 | $ | 15,723 | $ | 3,581 | $ | 7,552 | ||||||||||||
Net realized gains/(losses) from investments, futures | 24,237 | 31,334 | 19,069 | 81,872 | 39,962 | 40,790 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures | 33,235 | 50,048 | 54,869 | 21,447 | 43,860 | 88,001 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 64,138 | 94,872 | 82,412 | 119,042 | 87,403 | 136,343 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (6,484 | ) | (13,041 | ) | (8,952 | ) | (15,089 | ) | (3,230 | ) | (7,522 | ) | ||||||||||||
HC Advisors Shares | (9 | ) | (18 | ) | (16 | ) | (30 | ) | (5 | ) | (11 | ) | ||||||||||||
Net realized gains/(losses) from investments, futures: | ||||||||||||||||||||||||
HC Strategic Shares | (28,142 | ) | (22,077 | ) | (54,372 | ) | (38,357 | ) | (38,337 | ) | (44,277 | ) | ||||||||||||
HC Advisors Shares | (40 | ) | (30 | ) | (102 | ) | (83 | ) | (54 | ) | (63 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (34,675 | ) | (35,166 | ) | (63,442 | ) | (53,559 | ) | (41,626 | ) | (51,873 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 2,254 | $ | 15,134 | $ | 67,314 | $ | 124,538 | $ | 2,245 | $ | 19,925 | ||||||||||||
Proceeds from reinvestment of dividends | 31,042 | 30,156 | 63,118 | 53,180 | 36,632 | 44,844 | ||||||||||||||||||
Cost of shares redeemed | (49,337 | ) | (75,487 | ) | (51,370 | ) | (153,268 | ) | (76,325 | ) | (126,326 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | — | — | (204,698 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (16,041 | ) | (30,197 | ) | 79,062 | (180,248 | ) | (37,448 | ) | (61,557 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 14 | 70 | 68 | 91 | — | 70 | ||||||||||||||||||
Cost of shares redeemed | (16 | ) | (90 | ) | (35 | ) | (150 | ) | (53 | ) | (157 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (2 | ) | (20 | ) | 33 | (59 | ) | (53 | ) | (87 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (16,043 | ) | $ | (30,217 | ) | $ | 79,095 | $ | (180,307 | ) | $ | (37,501 | ) | $ | (61,644 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 13,420 | 29,489 | 98,065 | (114,824 | ) | 8,276 | 22,826 | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 613,353 | 583,864 | 798,640 | 913,464 | 787,681 | 764,855 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 626,773 | $ | 613,353 | $ | 896,705 | $ | 798,640 | $ | 795,957 | $ | 787,681 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income | $ | 672 | $ | 499 | $ | 31 | $ | 525 | $ | 446 | $ | 100 | ||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 113 | 790 | 4,991 | 9,831 | 102 | 1,035 | ||||||||||||||||||
Reinvested | 1,518 | 1,573 | 4,736 | 4,161 | 1,647 | 2,386 | ||||||||||||||||||
Redeemed | (2,420 | ) | (3,943 | ) | (3,800 | ) | (12,145 | ) | (3,455 | ) | (6,442 | ) | ||||||||||||
Redeemed in redemption in-kind | — | — | — | (16,548 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | (789 | ) | (1,580 | ) | 5,927 | (14,701 | ) | (1,706 | ) | (3,021 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 1 | 4 | 6 | 7 | — | 4 | ||||||||||||||||||
Redeemed | (2 | ) | (5 | ) | (3 | ) | (12 | ) | (3 | ) | (8 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (1 | ) | (1 | ) | 3 | (5 | ) | (3 | ) | (4 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | (790 | ) | (1,581 | ) | 5,930 | (14,706 | ) | (1,709 | ) | (3,025 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
199
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Institutional Growth Equity Portfolio | The Small Capitalization– Mid Capitalization Equity Portfolio | The Institutional Small Capitalization– Mid Capitalization Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 5,233 | $ | 10,543 | $ | 276 | $ | 94 | $ | 506 | $ | 194 | ||||||||||||
Net realized gains/(losses) from investments, futures | 35,139 | 74,059 | 6,511 | 10,069 | 6,743 | 22,734 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures | 76,479 | 100,065 | 2,029 | 9,023 | 5,442 | 3,722 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 116,851 | 184,667 | 8,816 | 19,186 | 12,691 | 26,650 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (5,335 | ) | (10,527 | ) | (109 | ) | (136 | ) | (303 | ) | (223 | ) | ||||||||||||
HC Advisors Shares | (10 | ) | (21 | ) | — | — | — | — | ||||||||||||||||
Net realized gains/(losses) from investments, futures: | ||||||||||||||||||||||||
HC Strategic Shares | (42,580 | ) | (69,792 | ) | — | — | (13,508 | ) | (2,340 | ) | ||||||||||||||
HC Advisors Shares | (82 | ) | (151 | ) | — | — | (23 | ) | (4 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (48,007 | ) | (80,491 | ) | (109 | ) | (136 | ) | (13,834 | ) | (2,567 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 75,717 | $ | 102,997 | $ | 1,525 | $ | 3,472 | $ | 13,784 | $ | 19,283 | ||||||||||||
Proceeds from reinvestment of dividends | 47,356 | 78,013 | 92 | 112 | 13,739 | 2,521 | ||||||||||||||||||
Cost of shares redeemed | (96,453 | ) | (242,143 | ) | (13,535 | ) | (13,539 | ) | (9,211 | ) | (35,767 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | (291,050 | ) | — | — | — | (58,339 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 26,620 | (352,183 | ) | (11,918 | ) | (9,955 | ) | 18,312 | (72,302 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 11 | 110 | — | 7 | 7 | 11 | ||||||||||||||||||
Cost of shares redeemed | (66 | ) | (205 | ) | (6 | ) | (22 | ) | (12 | ) | (37 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (55 | ) | (95 | ) | (6 | ) | (15 | ) | (5 | ) | (26 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 26,565 | $ | (352,278 | ) | $ | (11,924 | ) | $ | (9,970 | ) | $ | 18,307 | $ | (72,328 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 95,409 | (248,102 | ) | (3,217 | ) | 9,080 | 17,164 | (48,245 | ) | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,036,302 | 1,284,404 | 107,536 | 98,456 | 144,243 | 192,488 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 1,131,711 | $ | 1,036,302 | $ | 104,319 | $ | 107,536 | $ | 161,407 | $ | 144,243 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | — | $ | 112 | $ | 167 | $ | — | $ | 197 | $ | (6 | ) | |||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 4,404 | 6,738 | 58 | 143 | 773 | 1,189 | ||||||||||||||||||
Reinvested | 2,743 | 5,372 | 3 | 5 | 807 | 154 | ||||||||||||||||||
Redeemed | (5,621 | ) | (15,660 | ) | (501 | ) | (564 | ) | (522 | ) | (2,271 | ) | ||||||||||||
Redeemed in redemption in-kind | — | (18,863 | ) | — | — | — | (3,831 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 1,526 | (22,413 | ) | (440 | ) | (416 | ) | 1,058 | (4,759 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | 8 | — | — | — | 1 | ||||||||||||||||||
Redeemed | (4 | ) | (13 | ) | — | (1 | ) | (1 | ) | (2 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (4 | ) | (5 | ) | — | (1 | ) | (1 | ) | (1 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 1,522 | (22,418 | ) | (440 | ) | (417 | ) | 1,057 | (4,760 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
200
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | The ESG Growth Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 1,105 | $ | 1,402 | $ | 9,382 | $ | 17,155 | $ | 1,588 | $ | 3,609 | ||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, and foreign currency transactions | 1,644 | 12,554 | 13,425 | 47,964 | 1,273 | 39 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, written options, swap transactions, and foreign currency transactions | (660 | ) | (13,259 | ) | 98,614 | 28,689 | 12,401 | 17,486 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 2,089 | 697 | 121,421 | 93,808 | 15,262 | 21,134 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (1,537 | ) | (1,360 | ) | (14,645 | ) | (15,525 | ) | (1,939 | ) | (3,827 | ) | ||||||||||||
HC Advisors Shares | — | — | (21 | ) | (25 | ) | — | — | ||||||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (3,668 | ) | (10,727 | ) | — | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (5,205 | ) | (12,087 | ) | (14,666 | ) | (15,550 | ) | (1,939 | ) | (3,827 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 6,715 | $ | 32,836 | $ | 23,003 | $ | 54,265 | $ | 12 | $ | 11,630 | ||||||||||||
Proceeds from reinvestment of dividends | 5,102 | 11,943 | 12,493 | 13,209 | 541 | 995 | ||||||||||||||||||
Cost of shares redeemed | (6,856 | ) | (35,530 | ) | (30,441 | ) | (491,877 | ) | (910 | ) | (2,614 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(b) | — | (25,577 | ) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 4,961 | (16,328 | ) | 5,055 | (424,403 | ) | (357 | ) | 10,011 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | 83 | 11 | — | — | ||||||||||||||||||
Cost of shares redeemed | — | — | (76 | ) | (402 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | 7 | (391 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 4,961 | $ | (16,328 | ) | $ | 5,062 | $ | (424,794 | ) | $ | (357 | ) | $ | 10,011 | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 1,845 | (27,718 | ) | 111,817 | (346,536 | ) | 12,966 | 27,318 | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 123,794 | 151,512 | 765,886 | 1,112,422 | 148,644 | 121,326 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 125,639 | $ | 123,794 | $ | 877,703 | $ | 765,886 | $ | 161,610 | $ | 148,644 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (148 | ) | $ | 284 | $ | (1,575 | ) | $ | (462 | ) | $ | (330 | ) | $ | 21 | ||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 2,222 | 10,670 | 2,520 | 6,369 | 1 | 1,134 | ||||||||||||||||||
Reinvested | 1,723 | 4,162 | 1,323 | 1,566 | 48 | 96 | ||||||||||||||||||
Redeemed | (2,277 | ) | (11,235 | ) | (3,269 | ) | (59,033 | ) | (82 | ) | (260 | ) | ||||||||||||
Redeemed in redemption in-kind | — | (7,435 | ) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 1,668 | (3,838 | ) | 574 | (51,098 | ) | (33 | ) | 970 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | 10 | 1 | — | — | ||||||||||||||||||
Redeemed | — | — | (9 | ) | (47 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | 1 | (46 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 1,668 | (3,838 | ) | 575 | (51,144 | ) | (33 | ) | 970 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. Please see Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
(b) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
201
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 304 | $ | 674 | $ | 12,992 | $ | 33,130 | $ | 28,862 | $ | 64,841 | ||||||||||||
Net realized gains/(losses) from investments, futures, and foreign currency transactions | 401 | 701 | 23,296 | 22,097 | 53,921 | (7,740 | ) | |||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures | 2,470 | 2,509 | 88,891 | 158,821 | 156,206 | 381,285 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 3,175 | 3,884 | 125,179 | 214,048 | 238,989 | 438,386 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (384 | ) | (735 | ) | (3,031 | ) | (34,041 | ) | (55,353 | ) | (67,741 | ) | ||||||||||||
HC Advisors Shares | — | — | (5 | ) | (63 | ) | (88 | ) | (112 | ) | ||||||||||||||
Net realized gains/(losses) from investments, futures, and foreign currency transactions: | ||||||||||||||||||||||||
HC Strategic Shares | (719 | ) | (536 | ) | — | — | (3,589 | ) | — | |||||||||||||||
HC Advisors Shares | — | — | — | — | (6 | ) | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (1,103 | ) | (1,271 | ) | (3,036 | ) | (34,104 | ) | (59,036 | ) | (67,853 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 122 | $ | 4,766 | $ | 33,094 | $ | 169,035 | $ | 140,375 | $ | 247,963 | ||||||||||||
Proceeds from reinvestment of dividends | 1,103 | 1,271 | 2,729 | 30,331 | 49,316 | 56,336 | ||||||||||||||||||
Cost of shares redeemed | (220 | ) | (982 | ) | (69,573 | ) | (309,892 | ) | (168,232 | ) | (248,501 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | — | — | — | — | (559,861 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 1,005 | 5,055 | (33,750 | ) | (110,526 | ) | 21,459 | (504,063 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | 1 | 77 | 69 | 233 | ||||||||||||||||||
Cost of shares redeemed | — | — | (91 | ) | (166 | ) | (157 | ) | (412 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | (90 | ) | (89 | ) | (88 | ) | (179 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 1,005 | $ | 5,055 | $ | (33,840 | ) | $ | (110,615 | ) | $ | 21,371 | $ | (504,242 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 3,077 | 7,668 | 88,303 | 69,329 | 201,324 | (133,709 | ) | |||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 27,993 | 20,325 | 1,236,356 | 1,167,027 | 2,456,587 | 2,590,296 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 31,070 | $ | 27,993 | $ | 1,324,659 | $ | 1,236,356 | $ | 2,657,911 | $ | 2,456,587 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (82 | ) | $ | (2 | ) | $ | 9,804 | $ | (152 | ) | $ | (23,042 | ) | $ | 3,537 | ||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 10 | 410 | 2,979 | 18,007 | 12,761 | 25,832 | ||||||||||||||||||
Reinvested | 86 | 111 | 238 | 2,916 | 4,434 | 5,527 | ||||||||||||||||||
Redeemed | (18 | ) | (83 | ) | (6,235 | ) | (32,676 | ) | (15,292 | ) | (25,848 | ) | ||||||||||||
Redeemed in redemption in-kind | — | — | — | — | — | (60,921 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 78 | 438 | (3,018 | ) | (11,753 | ) | 1,903 | (55,410 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | 8 | 7 | 25 | ||||||||||||||||||
Redeemed | — | — | (8 | ) | (17 | ) | (15 | ) | (42 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | (8 | ) | (9 | ) | (8 | ) | (17 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 78 | 438 | (3,026 | ) | (11,762 | ) | 1,895 | (55,427 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
202
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 18,994 | $ | 34,948 | $ | 969 | $ | 1,747 | $ | 18,616 | $ | 36,557 | ||||||||||||
Net realized gains/(losses) from investments, futures, written options, swap transactions, and foreign currency transactions | 40,664 | (13,102 | ) | 235 | (18 | ) | 4,659 | 4,774 | ||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments, futures, written options, and foreign currency transactions | 135,921 | 326,926 | (14 | ) | (1,718 | ) | (447 | ) | 30,043 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 195,579 | 348,772 | 1,190 | 11 | 22,828 | 71,374 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (37,919 | ) | (41,803 | ) | (978 | ) | (1,883 | ) | (20,119 | ) | (36,065 | ) | ||||||||||||
HC Advisors Shares | (59 | ) | (61 | ) | (34 | ) | (58 | ) | (24 | ) | (54 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (37,978 | ) | (41,864 | ) | (1,012 | ) | (1,941 | ) | (20,143 | ) | (36,119 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 67,886 | $ | 125,040 | $ | 5,864 | $ | 12,461 | $ | 31,421 | $ | 54,946 | ||||||||||||
Proceeds from reinvestment of dividends | 32,032 | 31,831 | 975 | 1,878 | 17,583 | 31,388 | ||||||||||||||||||
Cost of shares redeemed | (223,957 | ) | (521,553 | ) | (23,723 | ) | (13,578 | ) | (47,071 | ) | (109,003 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | — | — | — | — | (123,294 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (124,039 | ) | (364,682 | ) | (16,884 | ) | 761 | 1,933 | (145,963 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 43 | 126 | 198 | 565 | 43 | 21 | ||||||||||||||||||
Cost of shares redeemed | (108 | ) | (260 | ) | (61 | ) | (193 | ) | (18 | ) | (290 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (65 | ) | (134 | ) | 137 | 372 | 25 | (269 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (124,104 | ) | $ | (364,816 | ) | $ | (16,747 | ) | $ | 1,133 | $ | 1,958 | $ | (146,232 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 33,497 | (57,908 | ) | (16,569 | ) | (797 | ) | 4,643 | (110,977 | ) | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,778,012 | 1,835,920 | 88,595 | 89,392 | 674,470 | 785,447 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 1,811,509 | $ | 1,778,012 | $ | 72,026 | $ | 88,595 | $ | 679,113 | $ | 674,470 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (21,547 | ) | $ | (2,563 | ) | $ | (17 | ) | $ | 26 | $ | 40 | $ | 1,567 | |||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 3,548 | 7,507 | 596 | 1,273 | 4,474 | 7,981 | ||||||||||||||||||
Reinvested | 1,658 | 2,075 | 99 | 191 | 2,521 | 4,611 | ||||||||||||||||||
Redeemed | (11,727 | ) | (31,504 | ) | (2,417 | ) | (1,387 | ) | (6,709 | ) | (15,959 | ) | ||||||||||||
Redeemed in redemption in-kind | — | — | — | — | — | (18,105 | ) | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | (6,521 | ) | (21,922 | ) | (1,722 | ) | 77 | 286 | (21,472 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 2 | 8 | 20 | 58 | 6 | 3 | ||||||||||||||||||
Redeemed | (5 | ) | (16 | ) | (7 | ) | (19 | ) | (2 | ) | (42 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (3 | ) | (8 | ) | 13 | 39 | 4 | (39 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | (6,524 | ) | (21,930 | ) | (1,709 | ) | 116 | 290 | (21,511 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
203
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 Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 1,840 | $ | 3,142 | $ | 3,560 | $ | 8,318 | $ | 3,607 | $ | 6,602 | ||||||||||||
Net realized gains/(losses) from investments | (108 | ) | 821 | (178 | ) | 3,832 | 1,327 | 1,333 | ||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (1,060 | ) | (7,898 | ) | 4,243 | (14,671 | ) | 1,103 | (3,463 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 672 | (3,935 | ) | 7,625 | (2,521 | ) | 6,037 | 4,472 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (1,886 | ) | (3,151 | ) | (5,222 | ) | (9,596 | ) | (3,742 | ) | (6,639 | ) | ||||||||||||
Net realized gains/(losses) from investments: | ||||||||||||||||||||||||
HC Strategic Shares | — | (2,142 | ) | — | — | (856 | ) | (675 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (1,886 | ) | (5,293 | ) | (5,222 | ) | (9,596 | ) | (4,598 | ) | (7,314 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 12,568 | $ | 31,031 | $ | 25,052 | $ | 53,079 | $ | 15,429 | $ | 24,763 | ||||||||||||
Proceeds from reinvestment of dividends | 1,501 | 4,634 | 4,603 | 8,536 | 3,855 | 5,980 | ||||||||||||||||||
Cost of shares redeemed | (12,566 | ) | (52,637 | ) | (18,322 | ) | (31,326 | ) | (9,310 | ) | (62,324 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | — | — | (149,328 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 1,503 | (16,972 | ) | 11,333 | (119,039 | ) | 9,974 | (31,581 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 289 | (26,200 | ) | 13,736 | (131,156 | ) | 11,413 | (34,423 | ) | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 215,595 | 241,795 | 361,997 | 493,153 | 254,908 | 289,331 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 215,884 | $ | 215,595 | $ | 375,733 | $ | 361,997 | $ | 266,321 | $ | 254,908 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (3 | ) | $ | 43 | $ | (6 | ) | $ | 1,656 | $ | (19 | ) | $ | 116 | |||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,278 | 3,136 | 2,470 | 5,229 | 1,527 | 2,485 | ||||||||||||||||||
Reinvested | 153 | 471 | 456 | 841 | 382 | 599 | ||||||||||||||||||
Redeemed | (1,276 | ) | (5,194 | ) | (1,806 | ) | (3,040 | ) | (923 | ) | (6,148 | ) | ||||||||||||
Redeemed in redemption in-kind | — | — | — | (14,345 | ) | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 155 | (1,587 | ) | 1,120 | (11,315 | ) | 986 | (3,064 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 155 | (1,587 | ) | 1,120 | (11,315 | ) | 986 | (3,064 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
204
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 1,954 | $ | 3,431 | $ | 94 | $ | 190 | $ | 3,746 | $ | 7,587 | ||||||||||||
Net realized gains/(losses) from investments | 9 | 433 | — | (1 | ) | 642 | 2,048 | |||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (285 | ) | (4,556 | ) | (121 | ) | (173 | ) | (4,297 | ) | (8,782 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 1,678 | (692 | ) | (27 | ) | 16 | 91 | 853 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Net investment income: | ||||||||||||||||||||||||
HC Strategic Shares | (2,534 | ) | (4,771 | ) | (103 | ) | (186 | ) | (3,953 | ) | (7,564 | ) | ||||||||||||
HC Advisors Shares | — | — | — | — | (15 | ) | (28 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (2,534 | ) | (4,771 | ) | (103 | ) | (186 | ) | (3,968 | ) | (7,592 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 12,801 | $ | 20,065 | $ | 326 | $ | 211 | $ | 20,256 | $ | 22,340 | ||||||||||||
Proceeds from reinvestment of dividends | 2,023 | 3,790 | 103 | 186 | 3,721 | 7,067 | ||||||||||||||||||
Cost of shares redeemed | (6,608 | ) | (30,213 | ) | (818 | ) | (1,104 | ) | (11,022 | ) | (43,861 | ) | ||||||||||||
Cost of shares redeemed in redemption in-kind(a) | — | (13,314 | ) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 8,216 | (19,672 | ) | (389 | ) | (707 | ) | 12,955 | (14,454 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | — | — | 47 | 123 | ||||||||||||||||||
Cost of shares redeemed | — | — | — | — | (29 | ) | (62 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | — | — | 18 | 61 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 8,216 | $ | (19,672 | ) | $ | (389 | ) | $ | (707 | ) | $ | 12,973 | $ | (14,393 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 7,360 | (25,135 | ) | (519 | ) | (877 | ) | 9,096 | (21,132 | ) | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 183,834 | 208,969 | 17,788 | 18,665 | 386,570 | 407,702 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 191,194 | $ | 183,834 | $ | 17,269 | $ | 17,788 | $ | 395,666 | $ | 386,570 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (515 | ) | $ | 65 | $ | (14 | ) | $ | (5 | ) | $ | (80 | ) | $ | 142 | ||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,333 | 2,078 | 33 | 21 | 2,009 | 2,220 | ||||||||||||||||||
Reinvested | 211 | 391 | 10 | 19 | 370 | 702 | ||||||||||||||||||
Redeemed | (689 | ) | (3,093 | ) | (83 | ) | (111 | ) | (1,091 | ) | (4,361 | ) | ||||||||||||
Redeemed in redemption in-kind | — | (1,346 | ) | — | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 855 | (1,970 | ) | (40 | ) | (71 | ) | 1,288 | (1,439 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | — | 4 | 13 | ||||||||||||||||||
Redeemed | — | — | — | — | (3 | ) | (6 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | — | — | 1 | 7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 855 | (1,970 | ) | (40 | ) | (71 | ) | 1,289 | (1,432 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | See Note 8. in the Notes to Financial Statements. |
See accompanying notes to financial statements.
205
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (concluded)
(Amounts in thousands)
The Intermediate Term Municipal Bond II Portfolio | ||||||||
For the Six Months Ended December 31, 2017 (Unaudited) | For the Year Ended June 30, 2017 | |||||||
Operations: | ||||||||
Net investment income | $ | 799 | $ | 1,562 | ||||
Net realized gains/(losses) from investments | 31 | 4 | ||||||
Change in unrealized appreciation/(depreciation) from investments | (545 | ) | (1,926 | ) | ||||
|
|
|
| |||||
Change in net assets resulting from operations | 285 | (360 | ) | |||||
|
|
|
| |||||
Distributions to Shareholders from: | ||||||||
Net investment income: | ||||||||
HC Strategic Shares | (823 | ) | (1,550 | ) | ||||
HC Advisors Shares | (4 | ) | (9 | ) | ||||
Net realized gains/(losses) from investments: | ||||||||
HC Strategic Shares | (3 | ) | (97 | ) | ||||
HC Advisors Shares | — | (1 | ) | |||||
|
|
|
| |||||
Change in net assets resulting from distributions | (830 | ) | (1,657 | ) | ||||
|
|
|
| |||||
HC Strategic Shares | ||||||||
Proceeds from shares issued | $ | 5,370 | $ | 7,701 | ||||
Proceeds from reinvestment of dividends | 768 | 1,532 | ||||||
Cost of shares redeemed | (2,235 | ) | (8,212 | ) | ||||
|
|
|
| |||||
Change in net assets from HC Strategic Shares of beneficial interest | 3,903 | 1,021 | ||||||
|
|
|
| |||||
HC Advisors Shares | ||||||||
Proceeds from shares issued | 13 | 38 | ||||||
Cost of shares redeemed | (7 | ) | (62 | ) | ||||
|
|
|
| |||||
Change in net assets from HC Advisors Shares of beneficial interest | 6 | (24 | ) | |||||
|
|
|
| |||||
Change in net assets from shares of beneficial interest | $ | 3,909 | $ | 997 | ||||
|
|
|
| |||||
Change in net assets | 3,364 | (1,020 | ) | |||||
Net Assets: | ||||||||
Beginning of period | 74,535 | 75,555 | ||||||
|
|
|
| |||||
End of period | $ | 77,899 | $ | 74,535 | ||||
|
|
|
| |||||
Accumulated net investment income/(distributions in excess of net investment income) | $ | (18 | ) | $ | 10 | |||
Share Transactions: | ||||||||
HC Strategic Shares | ||||||||
Issued | 522 | 748 | ||||||
Reinvested | 75 | 148 | ||||||
Redeemed | (217 | ) | (794 | ) | ||||
|
|
|
| |||||
Change in HC Strategic Shares | 380 | 102 | ||||||
|
|
|
| |||||
HC Advisors Shares | ||||||||
Issued | 2 | 3 | ||||||
Redeemed | (1 | ) | (6 | ) | ||||
|
|
|
| |||||
Change in HC Advisors Shares | 1 | (3 | ) | |||||
|
|
|
| |||||
Total change in shares | 381 | 99 | ||||||
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
206
Table of Contents
(This page intentionally left blank.)
207
Table of Contents
HC CAPITAL TRUST
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting From Operations: | Distributions to Shareholders: | |||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/ (Loss) | Net Realized/ Unrealized Gains/ (Losses) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | ||||||||||||||||||||||
The Value Equity Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 19.53 | $ | 0.21 | $ | 1.86 | $ | 2.07 | $ | (0.21 | ) | $ | (0.92 | ) | $ | (1.13 | ) | |||||||||||
Year Ended June 30, 2017 | 17.70 | 0.42 | 2.51 | 2.93 | (0.41 | ) | (0.69 | ) | (1.10 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 18.46 | 0.41 | (0.02 | ) | 0.39 | (0.41 | ) | (0.74 | ) | (1.15 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 17.88 | 0.36 | 0.58 | 0.94 | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.42 | 2.94 | 3.36 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 12.22 | 0.38 | 2.69 | 3.07 | (0.35 | ) | — | (0.35 | ) | |||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 19.52 | $ | 0.22 | $ | 1.85 | $ | 2.07 | $ | (0.21 | ) | $ | (0.92 | ) | $ | (1.13 | ) | |||||||||||
Year Ended June 30, 2017 | 17.69 | 0.42 | 2.51 | 2.93 | (0.41 | ) | (0.69 | ) | (1.10 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 18.46 | 0.44 | (0.06 | ) | 0.38 | (0.41 | ) | (0.74 | ) | (1.15 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 17.88 | 0.36 | 0.58 | 0.94 | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.43 | 2.93 | 3.36 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 12.22 | 0.35 | 2.72 | 3.07 | (0.35 | ) | — | (0.35 | ) | |||||||||||||||||||
The Institutional Value Equity Portfolio |
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HC Strategic Shares |
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Six Months ended December 31, 2017 (Unaudited) | $ | 12.99 | $ | 0.13 | $ | 1.19 | $ | 1.32 | $ | (0.14 | ) | $ | (0.87 | ) | $ | (1.01 | ) | |||||||||||
Year Ended June 30, 2017 | 11.99 | 0.27 | 1.69 | 1.96 | (0.26 | ) | (0.70 | ) | (0.96 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 13.49 | 0.27 | (0.05 | ) | 0.22 | (0.27 | ) | (1.45 | ) | (1.72 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 14.79 | 0.27 | 0.44 | 0.71 | (0.28 | ) | (1.73 | ) | (2.01 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (d) | 2.66 | (d) | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | ||||||||||||||||
Year Ended June 30, 2013 | 12.55 | 0.38 | 2.69 | 3.07 | (0.37 | ) | (0.65 | ) | (1.02 | ) | ||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 13.00 | $ | 0.14 | $ | 1.18 | $ | 1.32 | $ | (0.14 | ) | $ | (0.87 | ) | $ | (1.01 | ) | |||||||||||
Year Ended June 30, 2017 | 12.00 | 0.27 | 1.69 | 1.96 | (0.26 | ) | (0.70 | ) | (0.96 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 13.50 | 0.28 | (0.06 | ) | 0.22 | (0.27 | ) | (1.45 | ) | (1.72 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 14.79 | 0.27 | 0.45 | 0.72 | (0.28 | ) | (1.73 | ) | (2.01 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (d) | 2.66 | (d) | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | ||||||||||||||||
Year Ended June 30, 2013 | 12.55 | 0.37 | 2.70 | 3.07 | (0.37 | ) | (0.65 | ) | (1.02 | ) | ||||||||||||||||||
The Growth Equity Portfolio |
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HC Strategic Shares |
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Six Months ended December 31, 2017 (Unaudited) | $ | 20.90 | $ | 0.10 | $ | 2.27 | $ | 2.37 | $ | (0.09 | ) | $ | (1.06 | ) | $ | (1.15 | ) | |||||||||||
Year Ended June 30, 2017 | 18.78 | 0.19 | 3.27 | 3.46 | (0.19 | ) | (1.15 | ) | (1.34 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 22.37 | 0.20 | 1.03 | 1.23 | (0.20 | ) | (4.62 | ) | (4.82 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 20.51 | 0.19 | 2.10 | 2.29 | (0.19 | ) | (0.24 | ) | (0.43 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 16.95 | 0.21 | 3.56 | 3.77 | (0.21 | ) | — | (0.21 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 14.88 | 0.24 | 2.07 | 2.31 | (0.24 | ) | — | (0.24 | ) | |||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 20.86 | $ | 0.10 | $ | 2.27 | $ | 2.37 | $ | (0.09 | ) | $ | (1.06 | ) | $ | (1.15 | ) | |||||||||||
Year Ended June 30, 2017 | 18.76 | 0.19 | 3.25 | 3.44 | (0.19 | ) | (1.15 | ) | (1.34 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 22.35 | 0.22 | 1.01 | 1.23 | (0.20 | ) | (4.62 | ) | (4.82 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 20.48 | 0.19 | 2.11 | 2.30 | (0.19 | ) | (0.24 | ) | (0.43 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 16.93 | 0.21 | 3.55 | 3.76 | (0.21 | ) | — | (0.21 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 14.86 | 0.22 | 2.09 | 2.31 | (0.24 | ) | — | (0.24 | ) | |||||||||||||||||||
The Institutional Growth Equity Portfolio |
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HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 16.10 | $ | 0.08 | $ | 1.75 | $ | 1.83 | $ | (0.08 | ) | $ | (0.68 | ) | $ | (0.76 | ) | |||||||||||
Year Ended June 30, 2017 | 14.80 | 0.17 | 2.48 | 2.65 | (0.17 | ) | (1.18 | ) | (1.35 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 17.14 | 0.16 | 0.85 | 1.01 | (0.16 | ) | (3.19 | ) | (3.35 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 16.59 | 0.16 | 1.63 | 1.79 | (0.15 | ) | (1.09 | ) | (1.24 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 15.00 | 0.18 | 3.01 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 15.02 | 0.23 | 2.07 | 2.30 | (0.23 | ) | (2.09 | ) | (2.32 | ) | ||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 16.10 | $ | 0.08 | $ | 1.76 | $ | 1.84 | $ | (0.08 | ) | $ | (0.68 | ) | $ | (0.76 | ) | |||||||||||
Year Ended June 30, 2017 | 14.80 | 0.17 | 2.48 | 2.65 | (0.17 | ) | (1.18 | ) | (1.35 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 17.15 | 0.17 | 0.83 | 1.00 | (0.16 | ) | (3.19 | ) | (3.35 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 16.59 | 0.16 | 1.64 | 1.80 | (0.15 | ) | (1.09 | ) | (1.24 | ) | ||||||||||||||||||
Year Ended June 30, 2014 | 15.00 | 0.19 | 3.00 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 15.01 | 0.23 | 2.08 | 2.31 | (0.23 | ) | (2.09 | ) | (2.32 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Per share amounts are based on average shares outstanding. |
See accompanying notes to financial statements.
208
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)(c) | |||||||||||||||||||||||
$ | 20.47 | 10.66% | $ | 625,888 | 0.29% | 0.28% | 0.28% | 2.11% | 27.09% | |||||||||||||||||||||
19.53 | 16.78% | 612,508 | 0.29% | 0.28% | 0.28% | 2.22% | 61.30% | |||||||||||||||||||||||
17.70 | 2.49% | 583,078 | 0.27% | 0.26% | 0.26% | 2.35% | 66.86% | |||||||||||||||||||||||
18.46 | 5.27% | 622,022 | 0.29% | 0.28% | 0.28% | 1.95% | 123.19% | |||||||||||||||||||||||
17.88 | 22.69% | 628,645 | 0.32% | 0.31% | 0.31% | 2.44% | 53.96% | |||||||||||||||||||||||
14.94 | 25.46% | 679,946 | 0.29% | 0.27% | 0.27% | 2.73% | 54.28% | |||||||||||||||||||||||
$ | 20.46 | 10.66% | $ | 885 | 0.54% | 0.28% | 0.28% | 2.11% | 27.09% | |||||||||||||||||||||
19.52 | 16.79% | 845 | 0.54% | 0.28% | 0.28% | 2.22% | 61.30% | |||||||||||||||||||||||
17.69 | 2.43% | 786 | 0.52% | 0.26% | 0.26% | 2.38% | 66.86% | |||||||||||||||||||||||
18.46 | 5.27% | 1,163 | 0.54% | 0.28% | 0.28% | 1.94% | 123.19% | |||||||||||||||||||||||
17.88 | 22.69% | 1,217 | 0.57% | 0.31% | 0.31% | 2.43% | 53.96% | |||||||||||||||||||||||
14.94 | 25.46% | 1,564 | 0.48% | 0.27% | 0.27% | 2.74% | 54.28% | |||||||||||||||||||||||
$ | 13.30 | 10.19% | $ | 895,142 | 0.28% | 0.28% | 0.28% | 2.01% | 11.87% | |||||||||||||||||||||
12.99 | 16.66% | 797,147 | 0.29% | 0.28% | 0.28% | 2.08% | 55.25% | |||||||||||||||||||||||
11.99 | 2.44% | 912,029 | 0.26% | 0.25% | 0.25% | 2.24% | 67.08% | |||||||||||||||||||||||
13.49 | 5.05% | 915,067 | 0.28% | 0.27% | 0.27% | 1.95% | 119.98% | |||||||||||||||||||||||
14.79 | 22.82% | 1,036,650 | 0.32% | 0.31% | 0.31% | 2.45% | 63.68% | |||||||||||||||||||||||
14.60 | 25.76% | 936,866 | 0.28% | 0.26% | 0.26% | 2.76% | 51.12% | |||||||||||||||||||||||
$ | 13.31 | 10.18% | $ | 1,563 | 0.53% | 0.28% | 0.28% | 2.01% | 11.87% | |||||||||||||||||||||
13.00 | 16.65% | 1,493 | 0.54% | 0.28% | 0.28% | 2.13% | 55.25% | |||||||||||||||||||||||
12.00 | 2.44% | 1,435 | 0.51% | 0.25% | 0.25% | 2.25% | 67.08% | |||||||||||||||||||||||
13.50 | 5.12% | 1,613 | 0.53% | 0.27% | 0.27% | 1.96% | 119.98% | |||||||||||||||||||||||
14.79 | 22.82% | 1,434 | 0.57% | 0.31% | 0.31% | 2.45% | 63.68% | |||||||||||||||||||||||
14.60 | 25.76% | 2,098 | 0.46% | 0.26% | 0.26% | 2.76% | 51.12% | |||||||||||||||||||||||
$ | 22.12 | 11.32% | $ | 794,828 | 0.31% | 0.31% | 0.31% | 0.87% | 22.17% | |||||||||||||||||||||
20.90 | 19.31% | 786,563 | 0.31% | 0.31% | 0.31% | 0.98% | 38.28% | |||||||||||||||||||||||
18.78 | 5.88% | 763,770 | 0.29% | 0.29% | 0.29% | 0.99% | 38.90% | |||||||||||||||||||||||
22.37 | 11.27% | 872,004 | 0.30% | 0.30% | 0.30% | 0.88% | 57.33% | |||||||||||||||||||||||
20.51 | 22.33% | 839,813 | 0.28% | 0.28% | 0.28% | 1.09% | 30.28% | |||||||||||||||||||||||
16.95 | 15.62% | 736,260 | 0.27% | 0.27% | 0.27% | 1.47% | 23.77% | |||||||||||||||||||||||
$ | 22.08 | 11.34% | $ | 1,129 | 0.56% | 0.31% | 0.31% | 0.88% | 22.17% | |||||||||||||||||||||
20.86 | 19.23% | 1,118 | 0.56% | 0.31% | 0.31% | 0.98% | 38.28% | |||||||||||||||||||||||
18.76 | 5.89% | 1,085 | 0.54% | 0.29% | 0.29% | 1.00% | 38.90% | |||||||||||||||||||||||
22.35 | 11.34% | 1,623 | 0.55% | 0.30% | 0.30% | 0.88% | 57.33% | |||||||||||||||||||||||
20.48 | 22.29% | 1,690 | 0.53% | 0.28% | 0.28% | 1.09% | 30.28% | |||||||||||||||||||||||
16.93 | 15.64% | 1,530 | 0.46% | 0.27% | 0.27% | 1.49% | 23.77% | |||||||||||||||||||||||
$ | 17.17 | 11.34% | $ | 1,129,626 | 0.29% | 0.29% | 0.29% | 0.95% | 9.57% | |||||||||||||||||||||
16.10 | 19.03% | 1,034,294 | 0.29% | 0.29% | 0.29% | 1.06% | 21.93% | |||||||||||||||||||||||
14.80 | 6.36% | 1,282,473 | 0.27% | 0.27% | 0.27% | 1.05% | 37.43% | |||||||||||||||||||||||
17.14 | 11.14% | 1,317,132 | 0.29% | 0.28% | 0.28% | 0.93% | 96.81% | |||||||||||||||||||||||
16.59 | 22.19% | 1,442,721 | 0.26% | 0.26% | 0.26% | 1.15% | 48.43% | |||||||||||||||||||||||
15.00 | 17.08% | 1,142,874 | 0.26% | 0.26% | 0.26% | 1.53% | 39.54% | |||||||||||||||||||||||
$ | 17.18 | 11.40% | $ | 2,085 | 0.54% | 0.29% | 0.29% | 0.96% | 9.57% | |||||||||||||||||||||
16.10 | 19.03% | 2,008 | 0.54% | 0.29% | 0.29% | 1.08% | 21.93% | |||||||||||||||||||||||
14.80 | 6.30% | 1,931 | 0.52% | 0.27% | 0.27% | 1.05% | 37.43% | |||||||||||||||||||||||
17.15 | 11.20% | 2,187 | 0.54% | 0.28% | 0.28% | 0.93% | 96.81% | |||||||||||||||||||||||
16.59 | 22.19% | 1,935 | 0.51% | 0.26% | 0.26% | 1.16% | 48.43% | |||||||||||||||||||||||
15.00 | 17.15% | 1,842 | 0.44% | 0.26% | 0.26% | 1.54% | 39.54% |
See accompanying notes to financial statements.
209
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | ||||||||||||||||||||||
The Small Capitalization–Mid Capitalization Equity Portfolio |
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HC Strategic Shares |
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Six Months ended December 31, 2017 (Unaudited) | $ | 25.23 | $ | 0.07 | $ | 2.03 | $ | 2.10 | $ | (0.03 | ) | $ | — | $ | — | |||||||||||||
Year Ended June 30, 2017 | 21.04 | 0.02 | 4.20 | 4.22 | (0.03 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2016 | 22.68 | 0.02 | (1.65 | ) | (1.63 | ) | (0.01 | ) | — | — | (e) | |||||||||||||||||
Year Ended June 30, 2015 | 21.22 | (0.01 | ) | 1.48 | 1.47 | (0.01 | ) | — | — | |||||||||||||||||||
Year Ended June 30, 2014 | 17.12 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2013 | 13.68 | 0.15 | 3.43 | 3.58 | (0.14 | ) | — | — | ||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 25.21 | $ | 0.07 | $ | 2.02 | $ | 2.09 | $ | (0.03 | ) | $ | — | $ | — | |||||||||||||
Year Ended June 30, 2017 | 21.02 | 0.02 | 4.20 | 4.22 | (0.03 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2016 | 22.66 | 0.01 | (1.64 | ) | (1.63 | ) | (0.01 | ) | — | — | (e) | |||||||||||||||||
Year Ended June 30, 2015 | 21.20 | (0.01 | ) | 1.48 | 1.47 | (0.01 | ) | — | — | |||||||||||||||||||
Year Ended June 30, 2014 | 17.10 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2013 | 13.66 | 0.14 | 3.44 | 3.58 | (0.14 | ) | — | — | ||||||||||||||||||||
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares |
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Six Months ended December 31, 2017 (Unaudited) | $ | 17.08 | $ | 0.05 | $ | 1.45 | $ | 1.50 | $ | (0.03 | ) | $ | (1.57 | ) | $ | — | ||||||||||||
Year Ended June 30, 2017 | 14.57 | 0.02 | 2.81 | 2.83 | (0.03 | ) | (0.29 | ) | — | |||||||||||||||||||
Year Ended June 30, 2016 | 16.61 | 0.03 | (1.15 | ) | (1.12 | ) | — | (e) | (0.90 | ) | (0.02 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 17.19 | 0.01 | 1.14 | 1.15 | (0.01 | ) | (1.72 | ) | — | |||||||||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (0.03 | ) | (3.18 | ) | — | |||||||||||||||||||
Year Ended June 30, 2013 | 13.52 | 0.09 | 3.58 | 3.67 | (0.10 | ) | — | — | ||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 17.07 | $ | 0.06 | $ | 1.45 | $ | 1.51 | $ | (0.03 | ) | $ | (1.57 | ) | $ | — | ||||||||||||
Year Ended June 30, 2017 | 14.57 | 0.03 | 2.79 | 2.82 | (0.03 | ) | (0.29 | ) | — | |||||||||||||||||||
Year Ended June 30, 2016 | 16.61 | 0.03 | (1.15 | ) | (1.12 | ) | — | (e) | (0.90 | ) | (0.02 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 17.19 | 0.01 | 1.14 | 1.15 | (0.01 | ) | (1.72 | ) | — | |||||||||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (0.03 | ) | (3.18 | ) | — | |||||||||||||||||||
Year Ended June 30, 2013 | 13.52 | 0.09 | 3.58 | 3.67 | (0.10 | ) | — | — | ||||||||||||||||||||
The Real Estate Securities Portfolio |
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HC Strategic Shares |
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Six Months ended December 31, 2017 (Unaudited) | $ | 3.03 | $ | 0.03 | $ | 0.02 | $ | 0.05 | $ | (0.04 | ) | $ | (0.09 | ) | $ | — | ||||||||||||
Year Ended June 30, 2017 | 3.39 | 0.04 | (0.05 | ) | (0.01 | ) | (0.04 | ) | (0.31 | ) | — | |||||||||||||||||
Year Ended June 30, 2016 | 3.24 | 0.05 | 0.52 | 0.57 | (0.04 | ) | (0.38 | ) | — | |||||||||||||||||||
Year Ended June 30, 2015 | 3.20 | 0.04 | 0.21 | 0.25 | (0.05 | ) | (0.16 | ) | — | |||||||||||||||||||
Period Ended June 30, 2014(d) | 2.76 | 0.05 | 0.41 | 0.46 | (0.02 | ) | — | (e) | — | |||||||||||||||||||
Year Ended June 30, 2013 | 11.16 | 0.09 | 0.94 | 1.03 | (0.11 | ) | (6.65 | ) | — | (e) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period September 12, 2013 (commencement of operations) through June 30, 2014. |
(e) | Amount rounds to less than $0.005 per share. |
(f) | Represents the last traded net asset value per share on June 30, 2013. As of the close of business on June 30, 2013, the Real Estate Securities Portfolio had no assets and no shareholders and was closed to new investors. |
See accompanying notes to financial statements.
210
Table of Contents
Distributions to Shareholders: | Ratios/Supplementary Data: | |||||||||||||||||||||||||||||||||
Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | ||||||||||||||||||||||||||
$ | (0.03) | $ | 27.30 | 8.31% | $ | 104,174 | 0.81% | 0.80% | 0.80% | 0.50% | 26.89% | |||||||||||||||||||||||
(0.03) | 25.23 | 20.07% | 107,395 | 0.83% | 0.82% | 0.82% | 0.09% | 48.52% | ||||||||||||||||||||||||||
(0.01) | 21.04 | (7.17)% | 98,325 | 0.79% | 0.76% | 0.76% | 0.09% | 48.89% | ||||||||||||||||||||||||||
(0.01) | 22.68 | 6.91% | 114,754 | 0.83% | 0.82% | 0.82% | (0.06)% | 67.34% | ||||||||||||||||||||||||||
(0.07) | 21.22 | 24.38% | 113,698 | 0.61% | 0.60% | 0.60% | 0.32% | 41.18% | ||||||||||||||||||||||||||
(0.14) | 17.12 | 26.34% | 112,700 | 0.56% | 0.56% | 0.56% | 0.99% | 34.45% | ||||||||||||||||||||||||||
$ | (0.03) | $ | 27.27 | 8.28% | $ | 145 | 1.06% | 0.80% | 0.80% | 0.49% | 26.89% | |||||||||||||||||||||||
(0.03) | 25.21 | 20.09% | 141 | 1.08% | 0.82% | 0.82% | 0.09% | 48.52% | ||||||||||||||||||||||||||
(0.01) | 21.02 | (7.18)% | 131 | 1.04% | 0.76% | 0.76% | 0.08% | 48.89% | ||||||||||||||||||||||||||
(0.01) | 22.66 | 6.92% | 195 | 1.08% | 0.82% | 0.82% | (0.06)% | 67.34% | ||||||||||||||||||||||||||
(0.07) | 21.20 | 24.41% | 207 | 0.86% | 0.60% | 0.60% | 0.32% | 41.18% | ||||||||||||||||||||||||||
(0.14) | 17.10 | 26.38% | 191 | 0.75% | 0.56% | 0.56% | 1.02% | 34.45% | ||||||||||||||||||||||||||
$ | (1.60) | $ | 16.98 | 8.76% | $ | 161,164 | 0.76% | 0.75% | 0.75% | 0.67% | 26.11% | |||||||||||||||||||||||
(0.32) | 17.08 | 19.50% | 143,995 | 0.75% | 0.75% | 0.75% | 0.14% | 47.63% | ||||||||||||||||||||||||||
(0.92) | 14.57 | (6.69)% | 192,253 | 0.72% | 0.69% | 0.69% | 0.17% | 52.38% | ||||||||||||||||||||||||||
(1.73) | 16.61 | 7.43% | 200,423 | 0.81% | 0.80% | 0.80% | 0.03% | 83.94% | ||||||||||||||||||||||||||
(3.21) | 17.19 | 20.85% | 182,460 | 0.70% | 0.70% | 0.70% | 0.21% | 67.75% | ||||||||||||||||||||||||||
(0.10) | 17.09 | 27.29% | 177,162 | 0.70% | 0.69% | 0.69% | 0.68% | 58.43% | ||||||||||||||||||||||||||
$ | (1.60) | $ | 16.98 | 8.83% | $ | 243 | 1.01% | 0.75% | 0.75% | 0.67% | 26.11% | |||||||||||||||||||||||
(0.32) | 17.07 | 19.43% | 248 | 1.00% | 0.75% | 0.75% | 0.16% | 47.63% | ||||||||||||||||||||||||||
(0.92) | 14.57 | (6.69)% | 235 | 0.97% | 0.69% | 0.69% | 0.16% | 52.38% | ||||||||||||||||||||||||||
(1.73) | 16.61 | 7.43% | 265 | 1.06% | 0.80% | 0.80% | 0.03% | 83.94% | ||||||||||||||||||||||||||
(3.21) | 17.19 | 20.85% | 239 | 0.95% | 0.70% | 0.70% | 0.22% | 67.75% | ||||||||||||||||||||||||||
(0.10) | 17.09 | 27.29% | 243 | 0.88% | 0.69% | 0.69% | 0.67% | 58.43% | ||||||||||||||||||||||||||
$ | (0.13) | $ | 2.95 | 1.52% | $ | 125,639 | 0.74% | 0.74% | 0.74% | 1.77% | 23.27% | |||||||||||||||||||||||
(0.35) | 3.03 | 0.44% | 123,794 | 0.77% | 0.77% | 0.77% | 1.19% | 58.32% | ||||||||||||||||||||||||||
(0.42) | 3.39 | 18.81% | 151,512 | 0.77% | 0.77% | 0.77% | 1.44% | 51.03% | ||||||||||||||||||||||||||
(0.21) | 3.24 | 7.44% | 132,758 | 0.79% | 0.79% | 0.79% | 1.22% | 60.49% | ||||||||||||||||||||||||||
(0.02) | 3.20 | 17.00% | 171,583 | 0.79% | 0.78% | 0.78% | 1.94% | 52.49% | ||||||||||||||||||||||||||
(6.76) | 5.43 | (f) | 13.28% | — | 0.88% | 0.88% | 0.88% | 0.98% | 53.50% |
See accompanying notes to financial statements.
211
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | Total Distributions to Shareholders | |||||||||||||||||||||||||
The Commodity Returns Strategy Portfolio(d) |
| |||||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 8.48 | $ | 0.10 | $ | 1.24 | $ | 1.34 | $ | (0.16 | ) | $ | — | $ | — | $ | (0.16 | ) | ||||||||||||||
Year Ended June 30, 2017 | 7.87 | 0.18 | 0.60 | 0.78 | (0.17 | ) | — | — | (0.17 | ) | ||||||||||||||||||||||
Year Ended June 30, 2016 | 8.80 | 0.14 | (0.94 | ) | (0.80 | ) | (0.13 | ) | — | — | (0.13 | ) | ||||||||||||||||||||
Year Ended June 30, 2015 | 11.64 | 0.13 | (2.79 | ) | (2.66 | ) | (0.14 | ) | (0.04 | ) | — | (0.18 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 9.82 | 0.09 | 1.83 | 1.92 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2013 | 10.01 | 0.12 | (0.20 | ) | (0.08 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 8.48 | $ | 0.10 | $ | 1.24 | $ | 1.34 | $ | (0.16 | ) | $ | — | $ | — | $ | (0.16 | ) | ||||||||||||||
Year Ended June 30, 2017 | 7.86 | 0.17 | 0.62 | 0.79 | (0.17 | ) | — | — | (0.17 | ) | ||||||||||||||||||||||
Year Ended June 30, 2016 | 8.80 | 0.14 | (0.95 | ) | (0.81 | ) | (0.13 | ) | — | — | (0.13 | ) | ||||||||||||||||||||
Year Ended June 30, 2015 | 11.63 | 0.13 | (2.78 | ) | (2.65 | ) | (0.14 | ) | (0.04 | ) | — | (0.18 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 9.81 | 0.08 | 1.84 | 1.92 | (0.10 | ) | — | — | (0.10 | ) | ||||||||||||||||||||||
Year Ended June 30, 2013 | 10.01 | 0.12 | (0.21 | ) | (0.09 | ) | (0.11 | ) | — | — | (0.11 | ) | ||||||||||||||||||||
The ESG Growth Portfolio |
| |||||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.65 | $ | 0.11 | $ | 0.98 | $ | 1.09 | $ | (0.14 | ) | $ | — | $ | — | $ | (0.14 | ) | ||||||||||||||
Year Ended June 30, 2017 | 9.34 | 0.27 | 1.32 | 1.59 | (0.28 | ) | — | — | (0.28 | ) | ||||||||||||||||||||||
Period Ended June 30, 2016(e) | 10.00 | 0.24 | (0.65 | ) | (0.41 | ) | (0.23 | ) | (0.02 | ) | — | (0.25 | ) | |||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.64 | $ | 0.11 | $ | 0.99 | $ | 1.10 | $ | (0.14 | ) | $ | — | $ | — | $ | (0.14 | ) | ||||||||||||||
Year Ended June 30, 2017 | 9.34 | 0.27 | 1.31 | 1.58 | (0.28 | ) | — | — | (0.28 | ) | ||||||||||||||||||||||
Period Ended June 30, 2016(e) | 10.00 | 0.24 | (0.65 | ) | (0.41 | ) | (0.23 | ) | (0.02 | ) | — | (0.25 | ) | |||||||||||||||||||
The Catholic SRI Growth Portfolio |
| |||||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 12.02 | $ | 0.13 | $ | 1.23 | $ | 1.36 | $ | (0.16 | ) | $ | (0.31 | ) | $ | — | $ | (0.47 | ) | |||||||||||||
Year Ended June 30, 2017 | 10.75 | 0.31 | 1.58 | 1.89 | (0.35 | ) | (0.27 | ) | — | (0.62 | ) | |||||||||||||||||||||
Period Ended June 30, 2016(f) | 10.00 | 0.19 | 0.74 | 0.93 | (0.18 | ) | — | — | (0.18 | ) | ||||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 12.03 | $ | 0.13 | $ | 1.23 | $ | 1.36 | $ | (0.16 | ) | $ | (0.31 | ) | $ | — | $ | (0.47 | ) | |||||||||||||
Year Ended June 30, 2017 | 10.76 | 0.32 | 1.57 | 1.89 | (0.35 | ) | (0.27 | ) | — | (0.62 | ) | |||||||||||||||||||||
Period Ended June 30, 2016(f) | 10.00 | 0.19 | 0.75 | 0.94 | (0.18 | ) | — | — | (0.18 | ) | ||||||||||||||||||||||
The International Equity Portfolio |
| |||||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.48 | $ | 0.11 | $ | 0.97 | $ | 1.08 | $ | (0.03 | ) | $ | — | $ | — | $ | (0.03 | ) | ||||||||||||||
Year Ended June 30, 2017 | 9.00 | 0.29 | 1.49 | 1.78 | (0.30 | ) | — | — | (0.30 | ) | ||||||||||||||||||||||
Year Ended June 30, 2016 | 11.18 | 0.28 | (1.40 | ) | (1.12 | ) | (0.27 | ) | (0.79 | ) | — | (1.06 | ) | |||||||||||||||||||
Year Ended June 30, 2015 | 13.56 | 0.30 | (0.96 | ) | (0.66 | ) | (0.34 | ) | (1.38 | ) | — | (1.72 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 11.35 | 0.43 | 2.25 | 2.68 | (0.43 | ) | (0.04 | ) | — | (0.47 | ) | |||||||||||||||||||||
Year Ended June 30, 2013 | 9.74 | 0.32 | 1.61 | 1.93 | (0.32 | ) | — | — | (0.32 | ) | ||||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.49 | $ | 0.11 | $ | 0.96 | $ | 1.07 | $ | (0.03 | ) | $ | — | $ | — | $ | (0.03 | ) | ||||||||||||||
Year Ended June 30, 2017 | 9.00 | 0.28 | 1.51 | 1.79 | (0.30 | ) | — | — | (0.30 | ) | ||||||||||||||||||||||
Year Ended June 30, 2016 | 11.18 | 0.28 | (1.40 | ) | (1.12 | ) | (0.27 | ) | (0.79 | ) | — | (1.06 | ) | |||||||||||||||||||
Year Ended June 30, 2015 | 13.56 | 0.30 | (0.96 | ) | (0.66 | ) | (0.34 | ) | (1.38 | ) | — | (1.72 | ) | |||||||||||||||||||
Year Ended June 30, 2014 | 11.36 | 0.43 | 2.24 | 2.67 | (0.43 | ) | (0.04 | ) | — | (0.47 | ) | |||||||||||||||||||||
Year Ended June 30, 2013 | 9.75 | 0.31 | 1.62 | 1.93 | (0.32 | ) | — | — | (0.32 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Statement has been consolidated. See Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
(e) | For the period July 14, 2015 (commencement of operations) through June 30, 2016. |
(f) | For the period January 12, 2016 (commencement of operations) through June 30, 2016. |
See accompanying notes to financial statements.
212
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)(c) | |||||||||||||||||||||||
$ | 9.66 | 15.87% | $ | 876,472 | 0.39% | 0.36% | 0.36% | 2.26% | 18.95% | |||||||||||||||||||||
8.48 | 9.87% | 764,818 | 0.42% | 0.42% | 0.42% | 1.99% | 56.34% | |||||||||||||||||||||||
7.87 | (9.01)% | 1,111,071 | 0.44% | 0.44% | 0.44% | 1.89% | 130.01% | |||||||||||||||||||||||
8.80 | (22.91)% | 1,193,003 | 0.63% | 0.63% | 0.63% | 1.40% | 63.29% | |||||||||||||||||||||||
11.64 | 19.64% | 1,174,593 | 0.66% | 0.66% | 0.66% | 0.87% | 61.70% | |||||||||||||||||||||||
9.82 | (0.85)% | 906,350 | 0.64% | 0.64% | 0.64% | 1.18% | 34.75% | |||||||||||||||||||||||
$ | 9.66 | 15.87% | $ | 1,231 | 0.64% | 0.36% | 0.36% | 2.24% | 18.95% | |||||||||||||||||||||
8.48 | 10.01% | 1,068 | 0.67% | 0.42% | 0.42% | 1.99% | 56.34% | |||||||||||||||||||||||
7.86 | (9.12)% | 1,351 | 0.69% | 0.44% | 0.44% | 1.86% | 130.01% | |||||||||||||||||||||||
8.80 | (22.84)% | 1,635 | 0.88% | 0.63% | 0.63% | 1.37% | 63.29% | |||||||||||||||||||||||
11.63 | 19.66% | 1,621 | 0.91% | 0.66% | 0.66% | 0.81% | 61.70% | |||||||||||||||||||||||
9.81 | (0.95)% | 1,151 | 0.82% | 0.64% | 0.64% | 1.20% | 34.75% | |||||||||||||||||||||||
$ | 11.60 | 10.26% | $ | 161,609 | 0.30% | 0.30% | 0.30% | 2.03% | 9.00% | |||||||||||||||||||||
10.65 | 17.19% | 148,643 | 0.35% | 0.34% | 0.34% | 2.70% | 25.45% | |||||||||||||||||||||||
9.34 | (4.16)% | 121,325 | 0.42% | 0.42% | 0.42% | 2.76% | 35.90% | |||||||||||||||||||||||
$ | 11.60 | 10.37% | $ | 1 | 0.55% | 0.30% | 0.30% | 2.03% | 9.00% | |||||||||||||||||||||
10.64 | 17.08% | 1 | 0.60% | 0.34% | 0.34% | 2.67% | 25.45% | |||||||||||||||||||||||
9.34 | (4.16)% | 1 | 0.67% | 0.42% | 0.42% | 2.76% | 35.90% | |||||||||||||||||||||||
$ | 12.91 | 11.37% | $ | 31,069 | 0.42% | 0.31% | 0.31% | 2.05% | 12.27% | |||||||||||||||||||||
12.02 | 18.02% | 27,992 | 0.57% | 0.31% | 0.31% | 2.85% | 27.41% | |||||||||||||||||||||||
10.75 | 8.81% | 20,324 | 0.84% | 0.31% | 0.31% | 3.88% | 25.63% | |||||||||||||||||||||||
$ | 12.92 | 11.36% | $ | 1 | 0.67% | 0.31% | 0.31% | 2.08% | 12.27% | |||||||||||||||||||||
12.03 | 18.00% | 1 | 0.82% | 0.31% | 0.31% | 2.77% | 27.41% | |||||||||||||||||||||||
10.76 | 8.91% | 1 | 1.09% | 0.31% | 0.31% | 3.88% | 25.63% | |||||||||||||||||||||||
$ | 11.53 | 10.27% | $ | 1,322,309 | 0.44% | 0.44% | 0.44% | 2.00% | 15.75% | |||||||||||||||||||||
10.48 | 19.75% | 1,234,134 | 0.43% | 0.42% | 0.42% | 2.74% | 52.75% | |||||||||||||||||||||||
9.00 | (10.15)% | 1,165,041 | 0.38% | 0.37% | 0.37% | 2.75% | 42.41% | |||||||||||||||||||||||
11.18 | (4.50)% | 1,522,384 | 0.38% | 0.38% | 0.38% | 2.61% | 48.85% | |||||||||||||||||||||||
13.56 | 23.72% | 1,613,553 | 0.42% | 0.42% | 0.42% | 3.26% | 55.23% | |||||||||||||||||||||||
11.35 | 19.76% | 1,385,888 | 0.41% | 0.41% | 0.41% | 2.91% | 46.29% | |||||||||||||||||||||||
$ | 11.53 | 10.16% | $ | 2,350 | 0.69% | 0.44% | 0.44% | 2.01% | 15.75% | |||||||||||||||||||||
10.49 | 19.87% | 2,222 | 0.68% | 0.42% | 0.42% | 2.79% | 52.75% | |||||||||||||||||||||||
9.00 | (10.16)% | 1,986 | 0.63% | 0.37% | 0.37% | 2.64% | 42.41% | |||||||||||||||||||||||
11.18 | (4.50)% | 3,032 | 0.63% | 0.38% | 0.38% | 2.59% | 48.85% | |||||||||||||||||||||||
13.56 | 23.61% | 3,136 | 0.67% | 0.42% | 0.42% | 3.24% | 55.23% | |||||||||||||||||||||||
11.36 | 19.74% | 2,732 | 0.61% | 0.41% | 0.41% | 3.07% | 46.29% |
See accompanying notes to financial statements.
213
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | ||||||||||||||||||||||
The Institutional International Equity Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.38 | $ | 0.12 | $ | 0.89 | $ | 1.01 | $ | (0.23 | ) | $ | (0.02 | ) | $ | (0.25 | ) | |||||||||||
Year Ended June 30, 2017 | 8.87 | 0.28 | 1.52 | 1.80 | (0.29 | ) | — | (0.29 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 10.58 | 0.28 | (1.28 | ) | (1.00 | ) | (0.27 | ) | (0.44 | ) | (0.71 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 12.58 | 0.29 | (0.89 | ) | (0.60 | ) | (0.32 | ) | (1.08 | ) | (1.40 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.40 | 2.17 | 2.57 | (0.40 | ) | (0.46 | ) | (0.86 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 9.38 | 0.30 | 1.56 | 1.86 | (0.30 | ) | (0.07 | ) | (0.37 | ) | ||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.37 | $ | 0.12 | $ | 0.89 | $ | 1.01 | $ | (0.23 | ) | $ | (0.02 | ) | $ | (0.25 | ) | |||||||||||
Year Ended June 30, 2017 | 8.86 | 0.28 | 1.52 | 1.80 | (0.29 | ) | — | (0.29 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 10.57 | 0.28 | (1.28 | ) | (1.00 | ) | (0.27 | ) | (0.44 | ) | (0.71 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 12.57 | 0.30 | (0.90 | ) | (0.60 | ) | (0.32 | ) | (1.08 | ) | (1.40 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.41 | 2.15 | 2.56 | (0.40 | ) | (0.46 | ) | (0.86 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 9.37 | 0.31 | 1.56 | 1.87 | (0.30 | ) | (0.07 | ) | (0.37 | ) | ||||||||||||||||||
The Emerging Markets Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 17.92 | $ | 0.21 | $ | 1.82 | $ | 2.03 | $ | (0.41 | ) | $ | — | $ | (0.41 | ) | ||||||||||||
Year Ended June 30, 2017 | 15.15 | 0.35 | 2.84 | 3.19 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 17.58 | 0.37 | (2.44 | ) | (2.07 | ) | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 20.01 | 0.40 | (2.11 | ) | (1.71 | ) | (0.41 | ) | (0.31 | ) | (0.72 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.51 | 2.86 | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 17.79 | 0.34 | (0.36 | ) | (0.02 | ) | (0.26 | ) | — | (0.26 | ) | |||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 17.92 | $ | 0.20 | $ | 1.83 | $ | 2.03 | $ | (0.41 | ) | $ | — | $ | (0.41 | ) | ||||||||||||
Year Ended June 30, 2017 | 15.15 | 0.35 | 2.84 | 3.19 | (0.42 | ) | — | (0.42 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 17.57 | 0.39 | (2.45 | ) | (2.06 | ) | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||
Year Ended June 30, 2015 | 20.00 | 0.42 | (2.13 | ) | (1.71 | ) | (0.41 | ) | (0.31 | ) | (0.72 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.50 | 2.85 | (0.36 | ) | — | (0.36 | ) | |||||||||||||||||||
Year Ended June 30, 2013 | 17.79 | 0.36 | (0.38 | ) | (0.02 | ) | (0.26 | ) | — | (0.26 | ) | |||||||||||||||||
The Core Fixed Income Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 9.80 | $ | 0.11 | $ | 0.03 | $ | 0.14 | $ | (0.13 | ) | $ | — | $ | (0.13 | ) | ||||||||||||
Year Ended June 30, 2017 | 10.01 | 0.19 | (0.18 | ) | 0.01 | (0.22 | ) | — | (0.22 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 9.78 | 0.21 | 0.35 | 0.56 | (0.24 | ) | (0.09 | ) | (0.33 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 9.89 | 0.19 | (0.07 | ) | 0.12 | (0.22 | ) | (0.01 | ) | (0.23 | ) | |||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.22 | 0.24 | 0.46 | (0.25 | ) | (0.05 | ) | (0.30 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 10.27 | 0.21 | (0.30 | ) | (0.09 | ) | (0.26 | ) | (0.19 | ) | (0.45 | ) | ||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 9.79 | $ | 0.11 | $ | 0.04 | $ | 0.15 | $ | (0.13 | ) | $ | — | $ | (0.13 | ) | ||||||||||||
Year Ended June 30, 2017 | 10.01 | 0.20 | (0.20 | ) | — | (0.22 | ) | — | (0.22 | ) | ||||||||||||||||||
Year Ended June 30, 2016 | 9.77 | 0.21 | 0.36 | 0.57 | (0.24 | ) | (0.09 | ) | (0.33 | ) | ||||||||||||||||||
Year Ended June 30, 2015 | 9.88 | 0.19 | (0.07 | ) | 0.12 | (0.22 | ) | (0.01 | ) | (0.23 | ) | |||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.21 | 0.24 | 0.45 | (0.25 | ) | (0.05 | ) | (0.30 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 10.26 | 0.21 | (0.29 | ) | (0.08 | ) | (0.26 | ) | (0.19 | ) | (0.45 | ) | ||||||||||||||||
The Fixed Income Opportunity Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 6.95 | $ | 0.19 | $ | 0.04 | $ | 0.23 | $ | (0.21 | ) | $ | — | $ | (0.21 | ) | ||||||||||||
Year Ended June 30, 2017 | 6.62 | 0.39 | 0.33 | 0.72 | (0.39 | ) | — | (0.39 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 7.08 | 0.37 | (0.43 | ) | (0.06 | ) | (0.38 | ) | (0.02 | ) | (0.40 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 7.65 | 0.38 | (0.39 | ) | (0.01 | ) | (0.39 | ) | (0.17 | ) | (0.56 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 7.41 | 0.43 | 0.37 | 0.80 | (0.43 | ) | (0.13 | ) | (0.56 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 7.22 | 0.47 | 0.19 | 0.66 | (0.47 | ) | — | (0.47 | ) | |||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 6.95 | $ | 0.19 | $ | 0.04 | $ | 0.23 | $ | (0.21 | ) | $ | — | $ | (0.21 | ) | ||||||||||||
Year Ended June 30, 2017 | 6.62 | 0.38 | 0.34 | 0.72 | (0.39 | ) | — | (0.39 | ) | |||||||||||||||||||
Year Ended June 30, 2016 | 7.08 | 0.38 | (0.44 | ) | (0.06 | ) | (0.38 | ) | (0.02 | ) | (0.40 | ) | ||||||||||||||||
Year Ended June 30, 2015 | 7.65 | 0.38 | (0.39 | ) | (0.01 | ) | (0.39 | ) | (0.17 | ) | (0.56 | ) | ||||||||||||||||
Year Ended June 30, 2014 | 7.40 | 0.41 | 0.40 | 0.81 | (0.43 | ) | (0.13 | ) | (0.56 | ) | ||||||||||||||||||
Year Ended June 30, 2013 | 7.22 | 0.47 | 0.18 | 0.65 | (0.47 | ) | — | (0.47 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Portfolio turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
214
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)(c) | |||||||||||||||||||||||
$ | 11.14 | 9.72% | $ | 2,653,727 | 0.39% | 0.39% | 0.39% | 2.22% | 16.89% | |||||||||||||||||||||
10.38 | 20.38% | 2,452,608 | 0.40% | 0.40% | 0.40% | 2.83% | 52.79% | |||||||||||||||||||||||
8.87 | (9.54)% | 2,586,742 | 0.36% | 0.36% | 0.36% | 3.00% | 43.96% | |||||||||||||||||||||||
10.58 | (4.38)% | 2,869,985 | �� | 0.36% | 0.36% | 0.36% | 2.69% | 52.55% | ||||||||||||||||||||||
12.58 | 24.16% | 3,001,838 | 0.40% | 0.40% | 0.40% | 3.35% | 64.38% | |||||||||||||||||||||||
10.87 | 19.86% | 2,431,816 | 0.42% | 0.42% | 0.42% | 2.93% | 47.98% | |||||||||||||||||||||||
$ | 11.13 | 9.73% | $ | 4,184 | 0.64% | 0.39% | 0.39% | 2.22% | 16.89% | |||||||||||||||||||||
10.37 | 20.40% | 3,979 | 0.65% | 0.40% | 0.40% | 2.84% | 52.79% | |||||||||||||||||||||||
8.86 | (9.56)% | 3,554 | 0.61% | 0.36% | 0.36% | 2.98% | 43.96% | |||||||||||||||||||||||
10.57 | (4.38)% | 4,108 | 0.61% | 0.36% | 0.36% | 2.81% | 52.55% | |||||||||||||||||||||||
12.57 | 24.07% | 3,598 | 0.65% | 0.40% | 0.40% | 3.27% | 64.38% | |||||||||||||||||||||||
10.87 | 19.99% | 3,385 | 0.63% | 0.42% | 0.42% | 2.89% | 47.98% | |||||||||||||||||||||||
$ | 19.54 | 11.37% | $ | 1,808,701 | 0.66% | 0.66% | 0.66% | 2.10% | 20.00% | |||||||||||||||||||||
17.92 | 21.51% | 1,775,379 | 0.59% | 0.59% | 0.59% | 2.04% | 60.79% | |||||||||||||||||||||||
15.15 | (11.66)% | 1,833,571 | 0.57% | 0.57% | 0.57% | 2.82% | 40.02% | |||||||||||||||||||||||
17.58 | (8.48)% | 1,893,047 | 0.59% | 0.59% | 0.59% | 2.32% | 85.72% | |||||||||||||||||||||||
20.01 | 16.48% | 1,813,476 | 0.73% | 0.73% | 0.73% | 2.26% | 75.84% | |||||||||||||||||||||||
17.51 | (0.28)% | 1,079,208 | 0.77% | 0.77% | 0.77% | 2.27% | 63.21% | |||||||||||||||||||||||
$ | 19.54 | 11.37% | $ | 2,808 | 0.91% | 0.66% | 0.66% | 2.08% | 20.00% | |||||||||||||||||||||
17.92 | 21.51% | 2,633 | 0.84% | 0.59% | 0.59% | 2.04% | 60.79% | |||||||||||||||||||||||
15.15 | (11.61)% | 2,349 | 0.82% | 0.57% | 0.57% | 2.69% | 40.02% | |||||||||||||||||||||||
17.57 | (8.49)% | 3,017 | 0.84% | 0.59% | 0.59% | 2.34% | 85.72% | |||||||||||||||||||||||
20.00 | 16.42% | 2,861 | 0.98% | 0.73% | 0.73% | 2.25% | 75.84% | |||||||||||||||||||||||
17.51 | (0.28)% | 1,778 | 0.95% | 0.77% | 0.77% | 2.24% | 63.21% | |||||||||||||||||||||||
$ | 9.81 | 1.23% | $ | 68,940 | 0.32% | 0.32% | 0.32% | 2.13% | 19.92% | (d) | ||||||||||||||||||||
9.80 | 0.07% | 85,653 | 0.33% | 0.33% | 0.33% | 1.97% | 45.74% | (d) | ||||||||||||||||||||||
10.01 | 5.87% | 86,767 | 0.27% | 0.27% | 0.27% | 2.11% | 58.47% | (d) | ||||||||||||||||||||||
9.78 | 1.16% | 96,952 | 0.27% | 0.27% | 0.27% | 1.90% | 89.60% | (d) | ||||||||||||||||||||||
9.89 | 4.78% | 99,718 | 0.25% | 0.25% | 0.25% | 2.22% | 75.17% | (d) | ||||||||||||||||||||||
9.73 | (1.02)% | 93,015 | 0.27% | 0.26% | 0.26% | 2.09% | 53.26% | (d) | ||||||||||||||||||||||
$ | 9.81 | 1.33% | $ | 3,086 | 0.57% | 0.32% | 0.32% | 2.13% | 19.92% | (d) | ||||||||||||||||||||
9.79 | (0.03)% | 2,942 | 0.58% | 0.33% | 0.33% | 1.97% | 45.74% | (d) | ||||||||||||||||||||||
10.01 | 5.98% | 2,625 | 0.52% | 0.27% | 0.27% | 2.11% | 58.47% | (d) | ||||||||||||||||||||||
9.77 | 1.16% | 2,796 | 0.52% | 0.27% | 0.27% | 1.90% | 89.60% | (d) | ||||||||||||||||||||||
9.88 | 4.68% | 2,730 | 0.50% | 0.25% | 0.25% | 2.22% | 75.17% | (d) | ||||||||||||||||||||||
9.73 | (0.92)% | 2,341 | 0.45% | 0.26% | 0.26% | 2.08% | 53.26% | (d) | ||||||||||||||||||||||
$ | 6.97 | 3.26% | $ | 678,295 | 0.43% | 0.43% | 0.43% | 5.36% | 18.69% | |||||||||||||||||||||
6.95 | 11.07% | 673,681 | 0.43% | 0.43% | 0.43% | 5.53% | 41.48% | |||||||||||||||||||||||
6.62 | (0.61)% | 784,435 | 0.39% | 0.39% | 0.39% | 5.57% | 66.76% | (d) | ||||||||||||||||||||||
7.08 | 0.06% | 810,466 | 0.32% | 0.32% | 0.32% | 5.27% | 55.80% | |||||||||||||||||||||||
7.65 | 11.23% | 804,070 | 0.30% | 0.30% | 0.30% | 5.52% | 82.94% | |||||||||||||||||||||||
7.41 | 9.17% | 752,140 | 0.43% | 0.43% | 0.43% | 6.33% | 74.84% | |||||||||||||||||||||||
$ | 6.97 | 3.27% | $ | 818 | 0.68% | 0.43% | 0.43% | 5.35% | 18.69% | |||||||||||||||||||||
6.95 | 11.08% | 789 | 0.68% | 0.43% | 0.43% | 5.54% | 41.48% | |||||||||||||||||||||||
6.62 | (0.60)% | 1,012 | 0.64% | 0.39% | 0.39% | 5.58% | 66.76% | (d) | ||||||||||||||||||||||
7.08 | 0.07% | 1,094 | 0.57% | 0.32% | 0.32% | 5.27% | 55.80% | |||||||||||||||||||||||
7.65 | 11.39% | 1,050 | 0.55% | 0.30% | 0.30% | 5.52% | 82.94% | |||||||||||||||||||||||
7.40 | 9.03% | 914 | 0.64% | 0.43% | 0.43% | 6.33% | 74.84% |
See accompanying notes to financial statements.
215
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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | ||||||||||||||||||||||
The U.S. Government Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 9.84 | $ | 0.08 | $ | (0.04 | ) | $ | 0.04 | $ | (0.09 | ) | $ | — | $ | — | ||||||||||||
Year Ended June 30, 2017 | 10.30 | 0.15 | (0.36 | ) | (0.21 | ) | (0.15 | ) | (0.10 | ) | — | |||||||||||||||||
Year Ended June 30, 2016 | 10.02 | 0.14 | 0.38 | 0.52 | (0.14 | ) | (0.10 | ) | — | |||||||||||||||||||
Year Ended June 30, 2015 | 9.94 | 0.12 | 0.08 | 0.20 | (0.12 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2014 | 9.91 | 0.12 | 0.07 | 0.19 | (0.13 | ) | (0.03 | ) | — | |||||||||||||||||||
Year Ended June 30, 2013 | 10.48 | 0.12 | (0.30 | ) | (0.18 | ) | (0.12 | ) | (0.27 | ) | — | |||||||||||||||||
The Inflation Protected Securities Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.03 | $ | 0.09 | $ | 0.12 | $ | 0.21 | $ | (0.14 | ) | $ | — | $ | — | |||||||||||||
Year Ended June 30, 2017 | 10.40 | 0.27 | (0.35 | ) | (0.08 | ) | (0.29 | ) | — | — | ||||||||||||||||||
Year Ended June 30, 2016 | 10.02 | 0.11 | 0.29 | 0.40 | (0.02 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2015 | 10.25 | (0.03 | ) | (0.14 | ) | (0.17 | ) | (0.03 | ) | (0.01 | ) | (0.02 | ) | |||||||||||||||
Period Ended June 30, 2014(d) | 10.00 | 0.11 | 0.24 | 0.35 | (0.10 | ) | — | — | ||||||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.02 | $ | 0.10 | $ | 0.12 | $ | 0.22 | $ | (0.14 | ) | $ | — | $ | — | |||||||||||||
Year Ended June 30, 2017 | 10.39 | 0.23 | (0.31 | ) | (0.08 | ) | (0.29 | ) | — | — | ||||||||||||||||||
Year Ended June 30, 2016 | 10.01 | 0.11 | 0.29 | 0.40 | (0.02 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2015 | 10.26 | (0.04 | ) | (0.15 | ) | (0.19 | ) | (0.05 | ) | (0.01 | ) | — | ||||||||||||||||
Period Ended June 30, 2014(d) | 10.00 | 0.12 | 0.24 | 0.36 | (0.10 | ) | — | — | ||||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio |
| |||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.03 | $ | 0.14 | $ | 0.11 | $ | 0.25 | $ | (0.17 | ) | $ | (0.03 | ) | $ | — | ||||||||||||
Year Ended June 30, 2017 | 10.16 | 0.26 | (0.10 | ) | 0.16 | (0.26 | ) | (0.03 | ) | — | ||||||||||||||||||
Year Ended June 30, 2016 | 9.88 | 0.27 | 0.48 | 0.75 | (0.27 | ) | (0.20 | ) | — | |||||||||||||||||||
Year Ended June 30, 2015 | 10.24 | 0.27 | (0.27 | ) | — | (0.27 | ) | (0.09 | ) | — | ||||||||||||||||||
Year Ended June 30, 2014 | 9.97 | 0.31 | 0.44 | 0.75 | (0.32 | ) | (0.16 | ) | — | |||||||||||||||||||
Year Ended June 30, 2013 | 10.59 | 0.35 | (0.35 | ) | — | (e) | (0.34 | ) | (0.28 | ) | — | |||||||||||||||||
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | ||||||||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 9.59 | $ | 0.10 | $ | (0.01 | ) | $ | 0.09 | $ | (0.13 | ) | $ | — | $ | — | ||||||||||||
Year Ended June 30, 2017 | 9.88 | 0.18 | (0.22 | ) | (0.04 | ) | (0.25 | ) | — | — | ||||||||||||||||||
Year Ended June 30, 2016 | 9.81 | 0.21 | 0.14 | 0.35 | (0.28 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2015 | 9.87 | 0.19 | — | 0.19 | (0.25 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2014 | 9.78 | 0.21 | 0.18 | 0.39 | (0.30 | ) | — | — | ||||||||||||||||||||
Year Ended June 30, 2013 | 10.22 | 0.20 | (0.30 | ) | (0.10 | ) | (0.34 | ) | — | — |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period April 3, 2014 (commencement of operations) through June 30, 2014. |
(e) | Amount rounds to less than $0.005 per share. |
(f) | Portfolio turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
216
Table of Contents
Distributions to Shareholders: | Ratios/Supplementary Data: | |||||||||||||||||||||||||||||||||
Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | ||||||||||||||||||||||||||
$ | (0.09) | $ | 9.79 | 0.37% | $ | 215,884 | 0.19% | 0.19% | 0.19% | 1.69% | 17.49% | |||||||||||||||||||||||
(0.25) | 9.84 | (2.03)% | 215,595 | 0.19% | 0.19% | 0.19% | 1.47% | 46.76% | ||||||||||||||||||||||||||
(0.24) | 10.30 | 5.26% | 241,795 | 0.17% | 0.17% | 0.17% | 1.38% | 50.10% | ||||||||||||||||||||||||||
(0.12) | 10.02 | 2.03% | 262,998 | 0.17% | 0.17% | 0.17% | 1.21% | 99.54% | ||||||||||||||||||||||||||
(0.16) | 9.94 | 1.91% | 246,914 | 0.18% | 0.18% | 0.18% | 1.29% | 62.52% | ||||||||||||||||||||||||||
(0.39) | 9.91 | (1.75)% | 265,390 | 0.18% | 0.18% | 0.18% | 1.21% | 41.62% | ||||||||||||||||||||||||||
$ | (0.14) | $ | 10.10 | 2.10% | $ | 375,732 | 0.16% | 0.16% | 0.16% | 1.89% | 9.42% | |||||||||||||||||||||||
(0.29) | 10.03 | (0.81)% | 361,996 | 0.15% | 0.15% | 0.15% | 2.31% | 21.69% | ||||||||||||||||||||||||||
(0.02) | 10.40 | 3.99% | 493,152 | 0.15% | 0.15% | 0.15% | 1.11% | 20.88% | ||||||||||||||||||||||||||
(0.06) | 10.02 | (1.72)% | 510,176 | 0.18% | 0.18% | 0.18% | (0.25)% | 27.12% | ||||||||||||||||||||||||||
(0.10) | 10.25 | 3.50% | 526,458 | 0.15% | 0.15% | 0.15% | 4.55% | 18.56% | ||||||||||||||||||||||||||
$ | (0.14) | $ | 10.10 | 2.20% | $ | 1 | 0.41% | 0.16% | 0.16% | 1.97% | 9.42% | |||||||||||||||||||||||
(0.29) | 10.02 | (0.81)% | 1 | 0.40% | 0.15% | 0.15% | 2.28% | 21.69% | ||||||||||||||||||||||||||
(0.02) | 10.39 | 4.00% | 1 | 0.40% | 0.15% | 0.15% | 1.09% | 20.88% | ||||||||||||||||||||||||||
(0.06) | 10.01 | (1.91)% | 1 | 0.43% | 0.18% | 0.18% | (0.25)% | 27.12% | ||||||||||||||||||||||||||
(0.10) | 10.26 | 3.60% | 1 | 0.40% | 0.15% | 0.15% | 4.58% | 18.56% | ||||||||||||||||||||||||||
$ | (0.20) | $ | 10.08 | 2.27% | $ | 266,321 | 0.19% | 0.19% | 0.19% | 2.74% | 25.65% | |||||||||||||||||||||||
(0.29) | 10.03 | 1.62% | 254,908 | 0.19% | 0.19% | 0.19% | 2.59% | 40.47% | ||||||||||||||||||||||||||
(0.47) | 10.16 | 7.92% | 289,331 | 0.19% | 0.19% | 0.19% | 2.84% | 64.20% | ||||||||||||||||||||||||||
(0.36) | 9.88 | (0.01)% | 223,329 | 0.28% | 0.28% | 0.28% | 2.60% | 158.19% | ||||||||||||||||||||||||||
(0.48) | 10.24 | 7.76% | 257,604 | 0.33% | 0.33% | 0.33% | 3.16% | 130.81% | ||||||||||||||||||||||||||
(0.62) | 9.97 | (0.24)% | 220,054 | 0.33% | 0.33% | 0.33% | 3.26% | 52.16% | ||||||||||||||||||||||||||
$ | (0.13) | $ | 9.55 | 0.93% | $ | 191,194 | 0.22% | 0.22% | 0.22% | 2.06% | 8.69% | (f) | ||||||||||||||||||||||
(0.25) | 9.59 | (0.38)% | 183,834 | 0.22% | 0.22% | 0.22% | 1.86% | 17.58% | (f) | |||||||||||||||||||||||||
(0.28) | 9.88 | 3.67% | 208,969 | 0.19% | 0.19% | 0.19% | 2.12% | 15.24% | (f) | |||||||||||||||||||||||||
(0.25) | 9.81 | 1.97% | 252,028 | 0.17% | 0.17% | 0.17% | 1.91% | 29.92% | (f) | |||||||||||||||||||||||||
(0.30) | 9.87 | 4.04% | 250,632 | 0.17% | 0.17% | 0.17% | 2.12% | 26.46% | (f) | |||||||||||||||||||||||||
(0.34) | 9.78 | (1.05)% | 253,548 | 0.23% | 0.23% | 0.23% | 1.84% | 34.20% | (f) |
See accompanying notes to financial statements.
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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) from Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | |||||||||||||||||||
The Short-Term Municipal Bond Portfolio |
| |||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 9.87 | $ | 0.05 | $ | (0.07 | ) | $ | (0.02 | ) | $ | (0.06 | ) | $ | — | |||||||||
Year Ended June 30, 2017 | 9.96 | 0.10 | (0.09 | ) | 0.01 | (0.10 | ) | — | ||||||||||||||||
Year Ended June 30, 2016 | 9.94 | 0.12 | 0.02 | 0.14 | (0.12 | ) | — | (d) | ||||||||||||||||
Year Ended June 30, 2015 | 10.04 | 0.12 | (0.10 | ) | 0.02 | (0.12 | ) | — | ||||||||||||||||
Year Ended June 30, 2014 | 10.05 | 0.12 | 0.01 | 0.13 | (0.12 | ) | (0.02 | ) | ||||||||||||||||
Year Ended June 30, 2013 | 10.26 | 0.13 | (0.11 | ) | 0.02 | (0.13 | ) | (0.10 | ) | |||||||||||||||
The Intermediate Term Municipal Bond Portfolio |
| |||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.08 | $ | 0.10 | $ | (0.10 | ) | $ | — | $ | (0.10 | ) | $ | — | ||||||||||
Year Ended June 30, 2017 | 10.25 | 0.20 | (0.17 | ) | 0.03 | (0.20 | ) | — | ||||||||||||||||
Year Ended June 30, 2016 | 10.06 | 0.21 | 0.19 | 0.40 | (0.21 | ) | — | |||||||||||||||||
Year Ended June 30, 2015 | 10.11 | 0.21 | (0.05 | ) | 0.16 | (0.21 | ) | — | ||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | |||||||||||||||||
Year Ended June 30, 2013 | 10.10 | 0.28 | (0.14 | ) | 0.14 | (0.28 | ) | — | ||||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.08 | $ | 0.10 | $ | (0.10 | ) | $ | — | $ | (0.10 | ) | $ | — | ||||||||||
Year Ended June 30, 2017 | 10.25 | 0.20 | (0.17 | ) | 0.03 | (0.20 | ) | — | ||||||||||||||||
Year Ended June 30, 2016 | 10.06 | 0.21 | 0.19 | 0.40 | (0.21 | ) | — | |||||||||||||||||
Year Ended June 30, 2015 | 10.11 | 0.21 | (0.05 | ) | 0.16 | (0.21 | ) | — | ||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | |||||||||||||||||
Year Ended June 30, 2013 | 10.10 | 0.26 | (0.12 | ) | 0.14 | (0.28 | ) | — | ||||||||||||||||
The Intermediate Term Municipal Bond II Portfolio |
| |||||||||||||||||||||||
HC Strategic Shares |
| |||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.30 | $ | 0.11 | $ | (0.08 | ) | $ | 0.03 | $ | (0.11 | ) | $ | — | (d) | |||||||||
Year Ended June 30, 2017 | 10.58 | 0.22 | (0.27 | ) | (0.05 | ) | (0.22 | ) | (0.01 | ) | ||||||||||||||
Year Ended June 30, 2016 | 10.31 | 0.21 | 0.27 | 0.48 | (0.21 | ) | — | (d) | ||||||||||||||||
Year Ended June 30, 2015 | 10.41 | 0.19 | (0.06 | ) | 0.13 | (0.19 | ) | (0.04 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.28 | 0.22 | 0.16 | 0.38 | (0.22 | ) | (0.03 | ) | ||||||||||||||||
Year Ended June 30, 2013 | 10.56 | 0.22 | (0.24 | ) | (0.02 | ) | (0.22 | ) | (0.03 | ) | ||||||||||||||
HC Advisors Shares |
| |||||||||||||||||||||||
Six Months ended December 31, 2017 (Unaudited) | $ | 10.30 | $ | 0.11 | $ | (0.08 | ) | $ | 0.03 | $ | (0.11 | ) | $ | — | (d) | |||||||||
Year Ended June 30, 2017 | 10.59 | 0.22 | (0.28 | ) | (0.06 | ) | (0.22 | ) | (0.01 | ) | ||||||||||||||
Year Ended June 30, 2016 | 10.31 | 0.21 | 0.28 | 0.49 | (0.21 | ) | — | (d) | ||||||||||||||||
Year Ended June 30, 2015 | 10.41 | 0.19 | (0.06 | ) | 0.13 | (0.19 | ) | (0.04 | ) | |||||||||||||||
Year Ended June 30, 2014 | 10.29 | 0.22 | 0.15 | 0.37 | (0.22 | ) | (0.03 | ) | ||||||||||||||||
Year Ended June 30, 2013 | 10.56 | 0.22 | (0.24 | ) | (0.02 | ) | (0.22 | ) | (0.03 | ) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
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Distributions to Shareholders: | Ratios/Supplementary Data: | |||||||||||||||||||||||||||||||||
Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | ||||||||||||||||||||||||||
$ | (0.06) | $ | 9.79 | (0.22)% | $ | 17,269 | 0.35% | 0.35% | 0.35% | 1.07% | 20.52% | |||||||||||||||||||||||
(0.10) | 9.87 | 0.12% | 17,788 | 0.35% | 0.35% | 0.35% | 1.05% | 25.02% | ||||||||||||||||||||||||||
(0.12) | 9.96 | 1.37% | 18,665 | 0.31% | 0.31% | 0.31% | 1.13% | 38.47% | ||||||||||||||||||||||||||
(0.12) | 9.94 | 0.19% | 20,933 | 0.31% | 0.31% | 0.31% | 1.18% | 26.24% | ||||||||||||||||||||||||||
(0.14) | 10.04 | 1.26% | 21,703 | 0.29% | 0.29% | 0.29% | 1.16% | 25.15% | ||||||||||||||||||||||||||
(0.23) | 10.05 | 0.21% | 22,608 | 0.27% | 0.27% | 0.27% | 1.27% | 5.92% | ||||||||||||||||||||||||||
$ | (0.10) | $ | 9.98 | 0.02% | $ | 394,225 | 0.28% | 0.28% | 0.28% | 1.90% | 10.42% | |||||||||||||||||||||||
(0.20) | 10.08 | 0.28% | 385,133 | 0.28% | 0.28% | 0.28% | 1.94% | 19.75% | ||||||||||||||||||||||||||
(0.21) | 10.25 | 4.05% | 406,302 | 0.26% | 0.26% | 0.26% | 2.08% | 30.35% | ||||||||||||||||||||||||||
(0.21) | 10.06 | 1.54% | 420,423 | 0.24% | 0.24% | 0.24% | 2.03% | 25.67% | ||||||||||||||||||||||||||
(0.25) | 10.11 | 4.10% | 423,257 | 0.29% | 0.29% | 0.29% | 2.49% | 34.05% | ||||||||||||||||||||||||||
(0.28) | 9.96 | 1.39% | 419,846 | 0.29% | 0.29% | 0.29% | 2.74% | 59.43% | ||||||||||||||||||||||||||
$ | (0.10) | $ | 9.98 | 0.02% | $ | 1,441 | 0.53% | 0.28% | 0.28% | 1.90% | 10.42% | |||||||||||||||||||||||
(0.20) | 10.08 | 0.28% | 1,437 | 0.53% | 0.28% | 0.28% | 1.94% | 19.75% | ||||||||||||||||||||||||||
(0.21) | 10.25 | 4.05% | 1,400 | 0.51% | 0.26% | 0.26% | 2.08% | 30.35% | ||||||||||||||||||||||||||
(0.21) | 10.06 | 1.54% | 1,985 | 0.49% | 0.24% | 0.24% | 2.03% | 25.67% | ||||||||||||||||||||||||||
(0.25) | 10.11 | 4.10% | 2,490 | 0.54% | 0.29% | 0.29% | 2.48% | 34.05% | ||||||||||||||||||||||||||
(0.28) | 9.96 | 1.39% | 1,840 | 0.48% | 0.29% | 0.29% | 2.70% | 59.43% | ||||||||||||||||||||||||||
$ | (0.11) | $ | 10.22 | 0.31% | $ | 77,524 | 0.28% | 0.28% | 0.28% | 2.08% | 11.30% | |||||||||||||||||||||||
(0.23) | 10.30 | (0.41)% | 74,163 | 0.27% | 0.27% | 0.27% | 2.13% | 15.48% | ||||||||||||||||||||||||||
(0.21) | 10.58 | 4.77% | 75,147 | 0.25% | 0.25% | 0.25% | 2.03% | 11.22% | ||||||||||||||||||||||||||
(0.23) | 10.31 | 1.31% | 77,102 | 0.25% | 0.25% | 0.25% | 1.85% | 21.51% | ||||||||||||||||||||||||||
(0.25) | 10.41 | 3.76% | 77,702 | 0.25% | 0.25% | 0.25% | 2.12% | 17.84% | ||||||||||||||||||||||||||
(0.25) | 10.28 | (0.37)% | 73,472 | 0.25% | 0.25% | 0.25% | 2.06% | 3.76% | ||||||||||||||||||||||||||
$ | (0.11) | $ | 10.22 | 0.31% | $ | 375 | 0.53% | 0.28% | 0.28% | 2.08% | 11.30% | |||||||||||||||||||||||
(0.23) | 10.30 | (0.50)% | 372 | 0.52% | 0.27% | 0.27% | 2.13% | 15.48% | ||||||||||||||||||||||||||
(0.21) | 10.59 | 4.87% | 408 | 0.50% | 0.25% | 0.25% | 2.02% | 11.22% | ||||||||||||||||||||||||||
(0.23) | 10.31 | 1.31% | 575 | 0.50% | 0.25% | 0.25% | 1.85% | 21.51% | ||||||||||||||||||||||||||
(0.25) | 10.41 | 3.66% | 724 | 0.50% | 0.25% | 0.25% | 2.11% | 17.84% | ||||||||||||||||||||||||||
(0.25) | 10.29 | (0.27)% | 463 | 0.44% | 0.25% | 0.25% | 2.06% | 3.76% |
See accompanying notes to financial statements.
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Notes to Financial Statements — December 31, 2017 (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, 2017, the Trust offered twenty-two separate investment portfolios: The Value Equity Portfolio (“Value Portfolio”), The Institutional Value Equity Portfolio (“Institutional Value Portfolio”), The Growth Equity Portfolio (“Growth Portfolio”), The Institutional Growth Equity Portfolio (“Institutional Growth Portfolio”), The Small Capitalization-Mid Capitalization Equity Portfolio (“Small Cap-Mid Cap Portfolio”), The Institutional Small Capitalization-Mid Capitalization Equity Portfolio (“Institutional Small Cap-Mid Cap Portfolio”), The Real Estate Securities Portfolio (“Real Estate Portfolio”), The Commodity Returns Strategy Portfolio (“Commodity Portfolio”), The ESG Growth Portfolio (“ESG Growth Portfolio”), The Catholic SRI Growth Portfolio (“Catholic SRI Growth Portfolio”), The International Equity Portfolio (“International Portfolio”), The Institutional International Equity Portfolio (“Institutional International Portfolio”), The Emerging Markets Portfolio (“Emerging Markets Portfolio”), The Core Fixed Income Portfolio (“Core Fixed Income Portfolio”), The Fixed Income Opportunity Portfolio (“Fixed Opportunity Portfolio”), The U.S. Government Fixed Income Securities Portfolio (“U.S. Government Fixed Income Portfolio”), The Inflation Protected Securities Portfolio (“Inflation Protected Portfolio”), The U.S. Corporate Fixed Income Securities Portfolio (“U.S. Corporate Fixed Income Portfolio”), The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio (“U.S. Mortgage/Asset Backed Fixed Income Portfolio”), The Short-Term Municipal Bond Portfolio (“Short-Term Municipal Portfolio”), The Intermediate Term Municipal Bond Portfolio (“Intermediate Municipal Portfolio”), and The Intermediate Term Municipal Bond II Portfolio (“Intermediate Municipal II Portfolio) (each a “Portfolio” and collectively the “Portfolios”).
Each Portfolio is authorized to issue an unlimited number of shares of beneficial interest with a par value of $0.001 each in two classes of shares: HC Advisors Shares and HC Strategic Shares. As of December 31, 2017, 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 and the HC Advisors Shares were not currently active for the Real Estate Portfolio. Each class of shares for each of the Portfolios has identical rights and privileges except with respect to voting rights on matters affecting a single class of shares. The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co., LLC.
All the Portfolios in the Trust, except the Real Estate Portfolio, the ESG Growth Portfolio, and the Catholic SRI Growth Portfolio are diversified Portfolios under the 1940 Act. The Real Estate Portfolio, the ESG Growth Portfolio, and the Catholic SRI Growth Portfolio are non-diversified Portfolios, which means that they may concentrate their investments in the securities of a limited number of issuers. The ESG Growth Portfolio and the Catholic SRI Growth Portfolio, however, are currently operating with diversified investment portfolios.
As is customary, the Trust’s organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that also permit the indemnification of parties to the contract under certain circumstances. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust.
2. SIGNIFICANT ACCOUNTING POLICIES. The following is a summary of the significant accounting policies followed by the Portfolios in the preparation of their financial statements. The Portfolios are investment companies and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, “Financial Services – Investment Companies.” The policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The presentation of the Portfolios’ financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.
A. Portfolio Valuation. The net asset value (“NAV”) per share of each Portfolio is determined at the close of regular trading on the New York Stock Exchange (“NYSE”), normally at 4:00 p.m. Eastern time, on days the NYSE is open. Each class’s NAV per share is calculated by adding the market value or fair value, as applicable, of all securities and other assets of the Portfolio, subtracting its liabilities and dividing the result by the number of its outstanding shares.
B. Securities Valuation. Security values are ordinarily obtained through the use of independent pricing services in accordance with procedures adopted by the Trust’s Board of Trustees (the “Board”). Pursuant to such procedures, the Portfolios may use a pricing service, bank, or broker-dealer experienced in such matters to value the Portfolio’s securities.
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2017 (Unaudited)
When reliable market quotations are not readily available for any security, the fair value of that security will be determined by a committee established by the Board in accordance with procedures adopted by the Board. The fair valuation process is designed to value the subject security at the price the Portfolio would reasonably expect to receive upon its current sale. Additional consideration is given to securities that have experienced a decrease in the volume or level of activity or to circumstances that indicate that a transaction is not orderly.
For disclosure purposes, the Trust has a three-tier fair value hierarchy that is dependent upon the observability of various “inputs” used to determine the value of the Portfolios’ investments. These inputs are summarized in the three broad levels listed below:
• | Level 1 — quoted prices in active markets for identical assets |
• | Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 — significant unobservable inputs (including a Portfolio’s own assumptions in determining the fair value of investments) |
The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.
Equity Securities (Common and Preferred Stock and Exchange-Traded Funds): Readily marketable portfolio securities listed on a securities exchange, including 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, the securities are valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Readily marketable securities traded only in the over-the-counter market are valued at the closing price and are typically categorized as Level 1 in the fair value hierarchy, or, if there have been no sales, are valued at the mean of the last reported bid and asked prices and are typically categorized as Level 2 in the fair value hierarchy.
Securities listed on a foreign exchange are valued at the closing price on that exchange provided that where the prices of such securities are denominated in foreign currencies, such prices are converted into U.S. dollars at the bid price of such currencies against U.S. dollars at the time of the NAV calculation. If there have been no sales on such exchange, the security is valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Fair value pricing may be used if events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the NAV is calculated. Such securities may be valued at fair value in accordance with procedures adopted by the Board. Management identifies possible fluctuations in international securities by monitoring the increase or decrease in the value of a designated benchmark index. In the event of an increase or decrease greater than predetermined levels, a Portfolio may use a systematic valuation model provided by an independent third party to fair value its international securities. Such systematic valuations are typically categorized as Level 2 in the fair value hierarchy.
Mutual Funds: Mutual funds are valued at their respective daily net asset value and are typically categorized as Level 1 in the fair value hierarchy.
Fixed Income Securities (Corporate, Municipal and Foreign Bonds, U.S. Government and Agency Securities and Inflation Indexed Bonds): Fixed income securities are valued using various inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and market events, and are typically categorized as Level 2 in the fair value hierarchy.
Asset-Backed and Mortgage-Backed Securities: In addition to the inputs discussed above for fixed-income securities, asset-backed and mortgage-backed securities are valued using new issue data, monthly payment information and collateral performance, and are typically categorized as Level 2 in the fair value hierarchy.
Short-Term Obligations: Short-term obligations with maturities of 60 days or less may also be valued at amortized cost, which constitutes fair value as determined by the Board. Such securities are typically categorized as Level 2 in the fair value hierarchy.
Derivative Instruments (Futures, Options, Swaps and Forward Currency Contracts): Swaps are valued using interdealer broker rates, benchmark yields, and swap details and are typically categorized as Level 2 in the fair value
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2017 (Unaudited)
hierarchy. Exchange traded futures, swaps and options are valued using quoted prices from the exchange and are typically categorized as Level 1 in the fair value hierarchy. Interest rate swaptions are valued using future interest rate volatility, yield curve, and strike price and are typically categorized as Level 2 in the fair value hierarchy. Forward currency contracts are valued using market quotes posted by major currency dealers and are typically categorized as Level 2 in the fair value hierarchy.
The following is a summary of the inputs used to value the following Portfolios’ securities as of December 31, 2017 (amounts in thousands). The breakdown of investment categorization is disclosed in the Schedule of Portfolio Investments for each Portfolio.
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Value Portfolio |
| |||||||||||||||
Common Stocks | $ | 591,988 | $ | — | $ | — | $ | 591,988 | ||||||||
Contingent Rights | — | 11 | — | 11 | ||||||||||||
U.S. Treasury Obligation | — | 11 | — | 11 | ||||||||||||
Time Deposit | — | 2,242 | — | 2,242 | ||||||||||||
Mutual Funds | 52,424 | — | — | 52,424 | ||||||||||||
Repurchase Agreement | — | 687 | — | 687 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 644,412 | $ | 2,951 | $ | — | $ | 647,363 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 28 | $ | — | $ | — | $ | 28 | ||||||||
Institutional Value Portfolio | ||||||||||||||||
Common Stocks | $ | 815,589 | $ | — | $ | — | $ | 815,589 | ||||||||
Contingent Rights | — | 19 | — | 19 | ||||||||||||
U.S. Treasury Obligation | — | 11 | — | 11 | ||||||||||||
Time Deposit | — | 7,435 | — | 7,435 | ||||||||||||
Mutual Funds | 81,253 | — | — | 81,253 | ||||||||||||
Repurchase Agreement | — | 2,577 | — | 2,577 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 896,842 | $ | 10,042 | $ | — | $ | 906,884 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 332 | $ | — | $ | — | $ | 332 | ||||||||
Growth Portfolio | ||||||||||||||||
Common Stocks | $ | 751,137 | $ | — | $ | — | $ | 751,137 | ||||||||
U.S. Treasury Obligation | — | 16 | — | 16 | ||||||||||||
Time Deposit | — | 11,900 | — | 11,900 | ||||||||||||
Mutual Funds | 56,173 | — | — | 56,173 | ||||||||||||
Repurchase Agreement | — | 33 | — | 33 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 807,310 | $ | 11,949 | $ | — | $ | 819,259 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | (103 | ) | $ | — | $ | — | $ | (103 | ) | ||||||
Institutional Growth Portfolio | ||||||||||||||||
Common Stocks | $ | 1,041,977 | $ | — | $ | — | $ | 1,041,977 | ||||||||
U.S. Treasury Obligation | — | 20 | — | 20 | ||||||||||||
Time Deposit | — | 14,787 | — | 14,787 | ||||||||||||
Mutual Funds | 85,229 | — | — | 85,229 | ||||||||||||
Repurchase Agreement | — | 56 | — | 56 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 1,127,206 | $ | 14,863 | $ | — | $ | 1,142,069 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 83 | $ | — | $ | — | $ | 83 |
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Notes to Financial Statements (continued) — December 31, 2017 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Small Cap–Mid Cap Portfolio | ||||||||||||||||
Common Stocks | $ | 93,776 | $ | — | $ | — | $ | 93,776 | ||||||||
Contingent Rights | — | — | — | — | ||||||||||||
Time Deposit | — | 1,977 | — | 1,977 | ||||||||||||
Mutual Funds | 16,791 | — | — | 16,791 | ||||||||||||
Repurchase Agreement | — | 164 | — | 164 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 110,567 | $ | 2,141 | $ | — | $ | 112,708 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | (19 | ) | $ | — | $ | — | $ | (19 | ) | ||||||
Institutional Small Cap–Mid Cap Portfolio | ||||||||||||||||
Common Stocks | $ | 143,546 | $ | — | $ | — | $ | 143,546 | ||||||||
Contingent Right | — | — | — | — | ||||||||||||
Time Deposit | — | 4,265 | — | 4,265 | ||||||||||||
Mutual Funds | 14,861 | — | — | 14,861 | ||||||||||||
Repurchase Agreement | — | 407 | — | 407 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 158,407 | $ | 4,672 | $ | — | $ | 163,079 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 22 | $ | — | $ | — | $ | 22 | ||||||||
Real Estate Portfolio | ||||||||||||||||
Common Stocks | $ | 108,694 | $ | — | $ | — | $ | 108,694 | ||||||||
Mutual Funds | 17,589 | — | — | 17,589 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 126,283 | $ | — | $ | — | $ | 126,283 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 14 | $ | — | $ | — | $ | 14 | ||||||||
Commodity Portfolio |
| |||||||||||||||
Common Stocks | $ | 361,353 | $ | 343,012 | $ | — | $ | 704,365 | ||||||||
Preferred Stocks | 4,314 | 1,089 | — | 5,403 | ||||||||||||
Right | — | — | — | — | ||||||||||||
Commercial Paper | — | 398 | — | 398 | ||||||||||||
Corporate Bonds | — | 28,390 | — | 28,390 | ||||||||||||
Asset Backed Securities | — | 135 | — | 135 | ||||||||||||
Collateralized Mortgage Obligations | — | 496 | — | 496 | ||||||||||||
Certificates of Deposit | — | 200 | — | 200 | ||||||||||||
U.S. Government Agency Securities | — | 96 | — | 96 | ||||||||||||
U.S. Treasury Obligations | — | 1,779 | — | 1,779 | ||||||||||||
Yankee Dollars | — | 3,270 | — | 3,270 | ||||||||||||
Time Deposit | — | 2,212 | — | 2,212 | ||||||||||||
Mutual Funds | 90,038 | — | — | 90,038 | ||||||||||||
Purchased Options & Swaptions | 98 | 5 | — | 103 | ||||||||||||
Repurchase Agreements | — | 49,402 | — | 49,402 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 455,803 | $ | 430,484 | $ | — | $ | 886,287 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 1,566 | $ | — | $ | — | $ | 1,566 | ||||||||
Forward Currency Contracts | — | (8 | ) | — | (8 | ) | ||||||||||
Written Options & Swaptions | (15 | ) | — | — | (15 | ) | ||||||||||
Total Return Swap Agreements | — | 29 | — | 29 |
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Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Commodity Portfolio (continued) |
| |||||||||||||||
Interest Rate Swap Agreements | $ | — | $ | (45 | ) | $ | — | $ | (45 | ) | ||||||
Centrally Cleared Interest Rate Swap Agreements | — | 2 | — | 2 | ||||||||||||
Commodity Forward Swap Agreements | — | 36 | — | 36 | ||||||||||||
Commodity Swap Agreements | — | 1,075 | — | 1,075 | ||||||||||||
Variance Swap Agreements | — | — | — | — | ||||||||||||
ESG Growth Portfolio | ||||||||||||||||
Common Stocks | $ | 70,874 | $ | 87,560 | $ | — | $ | 158,434 | ||||||||
Preferred Stock | — | 49 | — | 49 | ||||||||||||
Mutual Funds | 2,443 | — | — | 2,443 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 73,317 | $ | 87,609 | $ | — | $ | 160,926 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Catholic SRI Growth Portfolio | ||||||||||||||||
Common Stocks | $ | 14,163 | $ | 16,616 | $ | — | $ | 30,779 | ||||||||
Preferred Stock | — | 9 | — | 9 | ||||||||||||
Mutual Funds | 175 | 2 | — | 177 | ||||||||||||
Repurchase Agreement | — | 2 | — | 2 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 14,338 | $ | 16,629 | $ | — | $ | 30,967 | ||||||||
|
|
|
|
|
|
|
| |||||||||
International Portfolio | ||||||||||||||||
Common Stocks | $ | 86,102 | $ | 1,163,664 | $ | — | $ | 1,249,766 | ||||||||
Preferred Stocks | — | 25,805 | — | 25,805 | ||||||||||||
Time Deposit | — | 14,566 | — | 14,566 | ||||||||||||
Mutual Funds | 49,194 | — | — | 49,194 | ||||||||||||
Repurchase Agreement | — | 6,092 | — | 6,092 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 135,296 | $ | 1,210,127 | $ | — | $ | 1,345,423 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 313 | $ | — | $ | — | $ | 313 | ||||||||
Forward Currency Contracts | — | (19 | ) | — | (19 | ) | ||||||||||
Institutional International Portfolio | ||||||||||||||||
Common Stocks | $ | 102,975 | $ | 2,307,056 | $ | — | $ | 2,410,031 | ||||||||
Preferred Stocks | 205 | 29,207 | — | 29,412 | ||||||||||||
Time Deposit | — | 17,818 | — | 17,818 | ||||||||||||
Mutual Funds | 149,471 | 77,271 | — | 226,742 | ||||||||||||
Repurchase Agreement | — | 18,778 | — | 18,778 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 252,651 | $ | 2,450,130 | $ | — | $ | 2,702,781 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 1,399 | $ | — | $ | — | $ | 1,399 | ||||||||
Forward Currency Contracts | — | (3 | ) | — | (3 | ) | ||||||||||
Emerging Markets Portfolio | ||||||||||||||||
Common Stocks | $ | 307,994 | $ | 1,365,645 | $ | — | $ | 1,673,639 | ||||||||
Preferred Stocks | 21,557 | 16,161 | — | 37,718 | ||||||||||||
Right | — | 92 | — | 92 | ||||||||||||
Time Deposit | — | 10,520 | — | 10,520 | ||||||||||||
Exchange-Traded Fund | 44,022 | — | — | 44,022 | ||||||||||||
Mutual Funds | 57,297 | — | — | 57,297 | ||||||||||||
Repurchase Agreement | — | 5,241 | — | 5,241 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 430,870 | $ | 1,397,659 | $ | — | $ | 1,828,529 | ||||||||
|
|
|
|
|
|
|
|
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Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Emerging Markets Portfolio (continued) | ||||||||||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 2,550 | $ | — | $ | — | $ | 2,550 | ||||||||
Forward Currency Contracts | — | — | — | — | ||||||||||||
Core Fixed Income Portfolio | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 216 | $ | — | $ | 216 | ||||||||
Collateralized Mortgage Obligations | — | 993 | — | 993 | ||||||||||||
U.S. Government Agency Mortgages | — | 15,555 | — | 15,555 | ||||||||||||
U.S. Government Agency Securities | — | 1,017 | — | 1,017 | ||||||||||||
Corporate Bonds | — | 22,080 | — | 22,080 | ||||||||||||
U.S. Treasury Obligations | — | 21,870 | — | 21,870 | ||||||||||||
Yankee Dollars | — | 3,841 | — | 3,841 | ||||||||||||
Time Deposit | — | 9,030 | — | 9,030 | ||||||||||||
Mutual Funds | 18,906 | — | — | 18,906 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 18,906 | $ | 74,602 | $ | — | $ | 93,508 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments2 | ||||||||||||||||
TBA Sale Commitments | $ | — | $ | (414 | ) | $ | — | $ | (414 | ) | ||||||
Fixed Opportunity Portfolio | ||||||||||||||||
Collateralized Mortgage Obligations | $ | — | $ | 118,389 | $ | — | $ | 118,389 | ||||||||
U.S. Government Agency Mortgages | — | 21,684 | — | 21,684 | ||||||||||||
Corporate Bonds | — | 368,943 | — | 368,943 | ||||||||||||
Yankee Dollars | — | 76,984 | — | 76,984 | ||||||||||||
Time Deposit | — | 1,588 | — | 1,588 | ||||||||||||
Exchange-Traded Fund | 36,384 | — | — | 36,384 | ||||||||||||
Mutual Funds | 66,540 | — | — | 66,540 | ||||||||||||
Purchased Options & Swaptions | 13 | — | — | 13 | ||||||||||||
Repurchase Agreement | — | 6,862 | — | 6,862 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 102,937 | $ | 594,450 | $ | — | $ | 697,387 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 | ||||||||||||||||
Futures | $ | 22 | $ | — | $ | — | $ | 22 | ||||||||
Written Options & Swaptions | (7 | ) | — | — | (7 | ) | ||||||||||
Credit Default Swap Agreements | — | (252 | ) | — | (252 | ) | ||||||||||
U.S. Government Fixed Income Portfolio | ||||||||||||||||
U.S. Government Agency Securities | $ | — | $ | 8,889 | $ | — | $ | 8,889 | ||||||||
Corporate Bond | — | 257 | — | 257 | ||||||||||||
U.S. Treasury Obligations | — | 197,931 | — | 197,931 | ||||||||||||
Yankee Dollar | — | 134 | — | 134 | ||||||||||||
Time Deposit | — | 188 | — | 188 | ||||||||||||
Mutual Fund | 7,332 | — | — | 7,332 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 7,332 | $ | 207,399 | $ | — | $ | 214,731 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Inflation Protected Portfolio | ||||||||||||||||
U.S. Treasury Obligations | $ | — | $ | 362,940 | $ | — | $ | 362,940 | ||||||||
Mutual Fund | 17,227 | — | — | 17,227 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 17,227 | $ | 362,940 | $ | — | $ | 380,167 | ||||||||
|
|
|
|
|
|
|
|
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Notes to Financial Statements (continued) — December 31, 2017 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
U.S. Corporate Fixed Income Portfolio | ||||||||||||||||
Corporate Bonds | $ | — | $ | 184,741 | $ | — | $ | 184,741 | ||||||||
Yankee Dollars | — | 34,466 | — | 34,466 | ||||||||||||
Mutual Funds | 46,121 | — | — | 46,121 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 46,121 | $ | 219,207 | $ | — | $ | 265,328 | ||||||||
|
|
|
|
|
|
|
| |||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | ||||||||||||||||
Asset Backed Securities | $ | — | $ | 2,708 | $ | — | $ | 2,708 | ||||||||
Collateralized Mortgage Obligations | — | 10,736 | — | 10,736 | ||||||||||||
U.S. Government Agency Mortgages | — | 166,929 | — | 166,929 | ||||||||||||
Yankee Dollars | — | 408 | — | 408 | ||||||||||||
Mutual Fund | 34,524 | — | — | 34,524 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 34,524 | $ | 180,781 | $ | — | $ | 215,305 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments2 | ||||||||||||||||
TBA Sale Commitments | $ | — | $ | (1,634 | ) | $ | — | $ | (1,634 | ) | ||||||
Short-Term Municipal Portfolio |
| |||||||||||||||
Municipal Bonds | $ | — | $ | 16,958 | $ | — | $ | 16,958 | ||||||||
Mutual Fund | 81 | — | — | 81 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 81 | $ | 16,958 | $ | — | $ | 17,039 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Intermediate Municipal Portfolio | ||||||||||||||||
Municipal Bonds | $ | — | $ | 368,334 | $ | — | $ | 368,334 | ||||||||
Corporate Bond | — | — | — | — | ||||||||||||
Time Deposit | — | 2,303 | — | 2,303 | ||||||||||||
Mutual Fund | 20,663 | — | — | 20,663 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 20,663 | $ | 370,637 | $ | — | $ | 391,300 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Intermediate Municipal II Portfolio | ||||||||||||||||
Municipal Bonds | $ | — | $ | 72,308 | $ | — | $ | 72,308 | ||||||||
Mutual Fund | 4,705 | — | — | 4,705 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 4,705 | $ | 72,308 | $ | — | $ | 77,013 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
1 | Other Financial Instruments are derivative instruments not reflected in the total investments, such as futures and currency contracts, which are valued at the unrealized appreciation/(depreciation) on the instrument and written options and swap agreements, which are valued at fair value. |
2 | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at the time. |
The Trust’s policy is to disclose transfers between fair value hierarchy levels based on valuations at the end of the reporting period. There were no transfers from Level 2 to Level 1 during the period ended December 31, 2017.
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There were transfers from Level 1 to Level 2 during the period ended December 31, 2017. On December 31, 2017, the Portfolios shown below systematically fair valued foreign securities trading on foreign stock exchanges that close before U.S. stock exchanges but did not systematically fair value foreign securities on June 30, 2017 resulting in transfers from Level 1 to Level 2.
Portfolio | Transfers from Level 1 to Level 2 (000) | |||
Commodity Portfolio | ||||
Common Stocks | $ | 257,182 | ||
ESG Growth Portfolio | ||||
Common Stocks | 75,852 | |||
Catholic SRI Portfolio | ||||
Common Stocks | 14,097 | |||
International Portfolio | ||||
Common Stocks | 1,029,202 | |||
Institutional International Portfolio | ||||
Common Stocks | 1,997,691 | |||
Emerging Markets Portfolio | ||||
Common Stocks | 1,205,249 |
C. Securities Transactions and Investment Income. For financial reporting purposes, portfolio securities transactions are reported on trade date. However, for daily NAV determination, portfolio securities transactions are reflected no later than in the first calculation on the first business day following trade date. Dividend income is recognized on the ex-dividend date and foreign dividends are recognized as soon as reliable information is available from the Portfolio’s sources. Interest income, including amortization of premium and accretion of discount on investments, is accrued daily. 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 principal payment transactions on mortgage-backed and asset-backed securities are classified as investment income or loss for financial reporting purposes.
For certain securities, including real estate investment trusts, the Portfolio records distributions received in excess of income as a reduction of the 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 records adjustments to the estimated amounts of the components of distributions to investment income, unrealized appreciation/depreciation and realized gain/loss on investments as necessary, once the issuers provide information about the actual composition of the distributions.
D. Restricted Securities. A restricted security is a security that cannot be offered for public sale without prior registration under the Securities Act of 1933 (the “1933 Act”) (absent an exemption). Whether a restricted security is illiquid is determined pursuant to guidelines established by the Board. Not all restricted securities are considered illiquid. At December 31, 2017, all restricted securities were deemed liquid.
E. Allocations. Expenses directly attributable to a Portfolio are charged to that Portfolio. Class-specific expenses, if any, are borne by that class. Other expenses are allocated proportionately among the Portfolios in relation to the net assets of each Portfolio or by another appropriate method. Income, non-class-specific expenses and realized and unrealized gains and losses are allocated to the respective classes based on relative net assets.
F. Dividends and Capital Gain Distributions to Shareholders. The Core Fixed Income Portfolio, U.S. Government Fixed Income Portfolio, Inflation Protected Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio, Short-Term Municipal Portfolio, Intermediate Municipal Portfolio, and Intermediate Municipal II Portfolio declare and distribute dividends from net investment income, if any, on a monthly basis. The Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, ESG Growth Portfolio, Catholic SRI Growth Portfolio and Fixed Opportunity Portfolio declare and distribute dividends from net investment income, if any, on a quarterly basis. The International Portfolio and Institutional International Portfolio declare and distribute dividends from net
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Notes to Financial Statements (continued) — December 31, 2017 (Unaudited)
investment income, if any, on a semiannual basis. The Emerging Markets Portfolio declares and distributes dividends from net investment income, if any, on an annual basis. Net realized capital gains, if any, are declared and distributed at least annually by each Portfolio.
G. Repurchase Agreements. Among the instruments that each of the Portfolios may use for temporary investment purposes are repurchase agreements. Under the terms of a typical repurchase agreement, a Portfolio would acquire an underlying debt security for a relatively short period (usually not more than one week), subject to an obligation of the seller to repurchase that security from the Portfolio at an agreed-upon price and date. Repurchase agreements may involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Portfolio’s ability to dispose of the underlying securities. The creditworthiness of those banks and non-bank dealers with which the Portfolios may enter into repurchase agreements are monitored in accordance with guidelines adopted by the Board, as is the market value of the securities underlying any repurchase agreement to ensure that the seller’s obligation to repurchase is collateralized by an amount at least equal to the repurchase price including accrued interest. All repurchase agreements are fully collateralized by cash and/or government securities (as defined in the 1940 Act). If approved by the Adviser, repurchase agreements may also be fully collateralized by other securities that, at the time the repurchase agreement is entered into, are determined by the Board, or its authorized delegate, to be (i) issued by an issuer that has an exceptionally strong capacity to meet its obligations on the collateral, and (ii) sufficiently liquid that they can be sold by the Portfolio at approximately their carrying value in the ordinary course of business within seven calendar days. Master Repurchase Agreements (“MRA”) permit the Portfolios, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables under the MRA with collateral posted by the counterparty and create one net payment due to or from the Portfolios. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the counterparty’s bankruptcy or insolvency. Pursuant to the terms of the MRA, the Portfolios receive securities as collateral with a market value in excess of the repurchase price to be received by the Portfolios upon the maturity of the transaction. Upon a bankruptcy or insolvency of the counterparty, the Portfolios would recognize a liability with respect to such excess collateral to reflect the Portfolio’s obligation under bankruptcy law to return the excess to the counterparty.
The following table is a summary of each Portfolio’s open repurchase agreements that are subject to offset under an MRA on a net basis as of December 31, 2017 (amounts in thousands):
Portfolio | Value of Repurchase Agreements | Value of Collateral Received | Net Amount | |||||||||
Commodity Portfolio | $ | 40,300 | $ | 40,300 | $ | — |
H. TBA Purchase and Sale Commitments. Certain of the Portfolios may enter into “TBA” (to be announced) commitments to purchase or sell securities for a fixed price at a future date, typically not to exceed 45 days. TBA commitments may be considered securities in themselves, and involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date. Unsettled TBA commitments are valued at the current market value of the underlying securities, according to the procedures described under “Securities Valuation” above.
I. Commission Recapture. Certain of the Portfolios participate in a commission recapture program. These Portfolios will utilize the recaptured commissions to pay for, in whole or in part, certain expenses of the Portfolios, excluding investment advisory and distribution fees. The expenses eligible to be paid will include, but are not limited to, administrative service fees, audit fees, custodian fees, legal fees and printing expenses, as directed by the Trust. These amounts are disclosed as “Expenses paid indirectly” on the Statements of Operations.
For the period ending December 31, 2017, the following commissions were recaptured:
Portfolio | Commissions Recaptured (000) | |||
Value Portfolio | $ | 13 | ||
Institutional Value Portfolio | 22 | |||
Growth Portfolio | 7 | |||
Institutional Growth Portfolio | 7 | |||
Small Cap–Mid Cap Portfolio | 5 | |||
Institutional Small Cap–Mid Cap Portfolio | 1 |
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Portfolio | Commissions Recaptured (000) | |||
Commodity Portfolio | $ | 1 | ||
International Portfolio | 5 | |||
Institutional International Portfolio | 8 | |||
Emerging Markets Portfolio | 7 |
J. Foreign Exchange Transactions. The books and records of the Portfolios are maintained in U.S. dollars. Non-U.S. dollar denominated amounts are translated into U.S. dollars as follows, with the resultant exchange gains and losses recorded in the Statements of Operations:
i) | value of investment securities and other assets and liabilities at the exchange rate on the valuation date; and |
ii) | purchases and sales of investment securities and income and expenses at the exchange rate prevailing on the respective date of such transactions. |
The Portfolios do not isolate realized and unrealized gains and losses attributable to changes in the exchange rates from gains and losses that arise from changes in the value of investments. Such fluctuations are included with net realized and unrealized gain or loss on investments.
Dividends and interest from non-U.S. sources received by a Portfolio are generally subject to non-U.S. withholding taxes at rates ranging up to 30%. Such withholding taxes may be reduced or eliminated under the terms of applicable U.S. income tax treaties, and each Portfolio intends to, if reasonable, undertake any procedural steps required to claim the benefits of such treaties. If the value of more than 50% of a Portfolio’s total assets at the close of any taxable year consists of stock or securities of non-U.S. corporations, the Portfolio may elect to treat any non-U.S. taxes paid by it as paid by its shareholders.
The Portfolios may be subject to foreign taxes on gains in investments or currency repatriation. The Portfolios accrue such taxes, as applicable, based on their current interpretation of tax rules in the foreign markets in which they invest.
K. Derivative Instruments. Certain of the Portfolios may invest in various financial instruments including positions in forward currency contracts, financial futures contracts, options contracts and swap agreements.
The following is a summary of the fair value of derivative instruments held by the Portfolios as of December 31, 2017 (amounts in thousands).
Assets | ||||||||||||||||||||
Portfolio | Unrealized appreciation on futures contracts* | Investments, at value for purchased options | Investments, at value for written options | Unrealized appreciation on forward currency contracts* | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Value Portfolio | $ | 37 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Institutional Value Portfolio | 332 | — | — | — | — | |||||||||||||||
Institutional Growth Portfolio | 83 | — | — | — | — | |||||||||||||||
Institutional Small Cap-Mid Cap Portfolio | 22 | — | — | — | — | |||||||||||||||
Real Estate Portfolio | 14 | — | — | — | — | |||||||||||||||
Commodity Portfolio | 291 | — | — | — | — | |||||||||||||||
International Portfolio | 342 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 1,458 | — | — | — | — | |||||||||||||||
Emerging Markets Portfolio | 2,550 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 378 | — | — | 3 | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 1,336 | 98 | — | — | 1,158 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 1 | 5 | — | — | 67 | |||||||||||||||
Fixed Opportunity Portfolio | 100 | 13 | — | — | — |
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Liabilities | ||||||||||||||||||||
Portfolio | Net unrealized depreciation on futures contracts* | Purchased options, at fair value | Written options, at fair value | Unrealized depreciation on forward currency contracts* | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Value Portfolio | $ | 9 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Growth Portfolio | 103 | — | — | — | — | |||||||||||||||
Small Cap-Mid Cap Portfolio | 19 | — | — | — | — | |||||||||||||||
Commodity Portfolio | — | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | — | — | — | 11 | — | |||||||||||||||
International Portfolio | 29 | — | — | 19 | — | |||||||||||||||
Institutional International Portfolio | 59 | — | — | 3 | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 438 | — | 15 | — | 42 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 2 | — | — | — | 110 | |||||||||||||||
Fixed Opportunity Portfolio | 78 | — | 7 | — | 252 |
* | Total fair value is presented by Primary Risk Exposure. For forward currency contracts, such amounts represent appreciation (for asset derivatives) or depreciation (for liability derivatives). For futures contracts and centrally cleared swaps, the amounts represent their cumulative appreciation/depreciation, which includes movements of variation margin. |
Amounts designated as “—” are $0 or have been rounded to $0.
The following is a summary of the effect of derivative instruments on the Statements of Operations for the period ending December 31, 2017 (amounts in thousands):
Portfolio | Net realized gains/(losses) from futures transactions | Net realized gains/(losses) from written options transactions | Net realized gains/(losses) from purchased options transactions | Net realized gains/(losses) from forward currency contracts | Net realized gains/(losses) from swap transactions | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Value Portfolio | $ | 1,024 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Institutional Value Portfolio | 4,948 | — | — | — | — | |||||||||||||||
Growth Portfolio | 1,722 | — | — | — | — | |||||||||||||||
Institutional Growth Portfolio | 1,339 | — | — | — | — | |||||||||||||||
Small Cap-Mid Cap Portfolio | 182 | — | — | — | — | |||||||||||||||
Institutional Small Cap-Mid Cap Portfolio | 351 | — | — | — | — | |||||||||||||||
Real Estate Portfolio | 257 | — | — | — | — | |||||||||||||||
Commodity Portfolio | 5,166 | — | — | — | — | |||||||||||||||
ESG Growth Portfolio | 65 | — | — | — | — | |||||||||||||||
International Portfolio | 1,377 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 9,312 | — | — | — | — | |||||||||||||||
Emerging Markets Portfolio | 5,808 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 660 | — | — | 24 | — | |||||||||||||||
ESG Growth Portfolio | — | — | — | 3 | — | |||||||||||||||
Catholic SRI Growth Portfolio | — | — | — | 1 | — | |||||||||||||||
International Portfolio | 537 | — | — | (3 | ) | — | ||||||||||||||
Institutional International Portfolio | — | — | — | 59 | — | |||||||||||||||
Emerging Markets Portfolio | — | — | — | 98 | — |
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Portfolio | Net realized gains/(losses) from futures transactions | Net realized gains/(losses) from written options transactions | Net realized gains/(losses) from purchased options transactions | Net realized gains/(losses) from forward currency contracts | Net realized gains/(losses) from swap transactions | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | $ | (46 | ) | $ | 32 | $ | — | $ | — | $ | 1,031 | |||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 6 | (4 | ) | — | — | — | ||||||||||||||
Fixed Opportunity Portfolio | (169 | ) | (308 | ) | — | — | — | |||||||||||||
Credit Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | — | — | — | — | (14 | ) |
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result from Operations | ||||||||||||||||||||
Portfolio | Change in unrealized appreciation/ (depreciation) on futures | Change in unrealized appreciation/ (depreciation) on written options | Change in unrealized appreciation/ (depreciation) on purchased options | Change in unrealized appreciation/ (depreciation) on forward currency contracts | Change in unrealized appreciation/ (depreciation) on swaps | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Value Portfolio | $ | 225 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Institutional Value Portfolio | 498 | — | — | — | — | |||||||||||||||
Growth Portfolio | 312 | — | — | — | — | |||||||||||||||
Institutional Growth Portfolio | 293 | — | — | — | — | |||||||||||||||
Small Cap-Mid Cap Portfolio | 1 | — | — | — | — | |||||||||||||||
Institutional Small Cap-Mid Cap Portfolio | 43 | — | — | — | — | |||||||||||||||
Real Estate Portfolio | 33 | — | — | — | — | |||||||||||||||
Commodity Portfolio | 622 | — | — | — | — | |||||||||||||||
International Portfolio | 331 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 1,433 | — | — | — | — | |||||||||||||||
Emerging Markets Portfolio | 2,768 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 1,095 | — | — | (14 | ) | — | ||||||||||||||
International Portfolio | (428 | ) | — | — | (19 | ) | — | |||||||||||||
Institutional International Portfolio | (894 | ) | — | — | (3 | ) | — | |||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | (464 | ) | — | 1 | — | 640 | ||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 4 | — | — | — | 40 | |||||||||||||||
Fixed Opportunity Portfolio | 7 | 39 | (81 | ) | — | — | ||||||||||||||
Credit Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | — | — | — | — | (46 | ) |
Amounts designated as “—” are $0 or have been rounded to $0.
The Trust is generally subject to master netting agreements (“MNA”) that allow for amounts owed between the Portfolios and the counterparty to be netted. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the counterparty. The MNA do not apply to amounts owed to/from different counterparties. The amounts shown in the Statement of Assets and Liabilities do not take into consideration the effects of legally enforceable
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MNA. The table below presents the gross and net amounts of these assets and liabilities with any offsets to reflect the Portfolio’s ability to transact net amounts with counterparties at December 31, 2017.
As of December 31, 2017, each Portfolio’s derivative assets and liabilities by type are as follows (amounts in thousands):
Value Portfolio | Institutional Value Portfolio | Growth Portfolio | Institutional Growth Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | 35 | $ | — | $ | 330 | $ | — | $ | — | $ | 104 | $ | 80 | $ | — | ||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | 35 | — | 330 | — | — | 104 | 80 | — | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | (35 | ) | — | (330 | ) | — | — | (104 | ) | (80 | ) | — | ||||||||||||||||||||
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|
|
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|
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|
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| |||||||||||||||||
Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
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| |||||||||||||||||
Small Cap-Mid Cap Portfolio | Institutional Small Cap-Mid Cap Portfolio | Real Estate Portfolio | Commodity Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | 19 | $ | 22 | $ | — | $ | 14 | $ | — | $ | 2,006 | $ | 440 | ||||||||||||||||
Forward currency contracts | — | — | — | — | — | — | 3 | 11 | ||||||||||||||||||||||||
Option contracts* | — | — | — | — | — | — | 103 | 15 | ||||||||||||||||||||||||
Swap agreements | — | — | — | — | — | — | 1,095 | 87 | ||||||||||||||||||||||||
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| |||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 19 | 22 | — | 14 | — | 3,207 | 553 | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | — | (19 | ) | (22 | ) | — | (14 | ) | — | (2,104 | ) | (455 | ) | |||||||||||||||||||
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| |||||||||||||||||
Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,103 | $ | 98 | ||||||||||||||||
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| |||||||||||||||||
International Portfolio | Institutional International Portfolio | Emerging Markets Portfolio | Fixed Opportunity Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | 313 | $ | — | $ | 1,399 | $ | — | $ | 2,550 | $ | — | $ | 100 | $ | — | ||||||||||||||||
Forward currency contracts | — | 19 | — | 3 | — | — | — | — | ||||||||||||||||||||||||
Option contracts* | — | — | — | — | — | — | 13 | 7 | ||||||||||||||||||||||||
Swap agreements | — | — | — | — | — | — | — | 252 | ||||||||||||||||||||||||
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| |||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | 313 | 19 | 1,399 | 3 | 2,550 | — | 113 | 259 | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | (313 | ) | (19 | ) | (1,399 | ) | (3 | ) | (2,550 | ) | — | (113 | ) | (7 | ) | |||||||||||||||||
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| |||||||||||||||||
Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 252 | ||||||||||||||||
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* | Includes options contracts purchased at value as reported in the Statements of Assets and Liabilities. |
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The following table represents the Commodity Portfolio’s derivative assets by counterparty, net of amounts available for offset under an MNA and net of the related collateral received by the Portfolio as of December 31, 2017 (amounts in thousands).
Counterparty | Derivative Assets Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Received (a) | Cash Collateral Received (a) | Net Amount of Derivative Assets | |||||||||||||||
Commodity Portfolio | ||||||||||||||||||||
BNP Paribas | $ | 159 | $ | (4 | ) | $ | — | $ | — | $ | 155 | |||||||||
Canadian Imperial Bank of Commerce | 132 | — | — | — | 132 | |||||||||||||||
Deutsche Bank | 5 | (5 | ) | — | — | — | ||||||||||||||
Goldman Sachs | 157 | — | — | — | 157 | |||||||||||||||
JP Morgan Chase | 638 | (15 | ) | — | — | 623 | ||||||||||||||
Macquarie | 12 | — | — | — | 12 | |||||||||||||||
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| |||||||||||
Total | $ | 1,103 | $ | (24 | ) | $ | — | $ | — | $ | 1,079 | |||||||||
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|
The following table represents the Commodity Portfolio’s and the Fixed Opportunity Portfolio’s derivative liabilities by counterparty, net of amounts available for offset under an MNA and net of the related collateral pledged by the Portfolios as of December 31, 2017 (amounts in thousands).
Counterparty | Derivative Liabilities Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Pledged (a) | Cash Collateral Pledged (a) | Net Amount of Derivative Liabilities | |||||||||||||||
Commodity Portfolio | ||||||||||||||||||||
Barclays Bank | $ | 28 | $ | — | $ | — | $ | — | $ | 28 | ||||||||||
BNP Paribas | 4 | (4 | ) | — | — | — | ||||||||||||||
Deutsche Bank | 51 | (5 | ) | — | — | 46 | ||||||||||||||
JP Morgan Chase | 15 | (15 | ) | — | — | — | ||||||||||||||
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| |||||||||||
Total | $ | 98 | $ | (24 | ) | $ | — | $ | — | $ | 74 | |||||||||
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Fixed Opportunity Portfolio | ||||||||||||||||||||
Morgan Stanley | $ | 252 | $ | — | $ | — | $ | (220 | ) | $ | 32 | |||||||||
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Total | $ | 252 | $ | — | $ | — | $ | (220 | ) | $ | 32 | |||||||||
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(a) | The actual collateral received or pledged may be in excess of the amounts shown in the tables. The tables only reflect collateral amounts up to the amount of the financial instruments disclosed on the Statements of Assets and Liabilities. |
Amounts designated as “—” are $0 or have been rounded to $0.
Forward Currency Contracts: Certain of the Portfolios may be subject to currency exchange rate risk in the normal course of pursuing their investment objectives. A Portfolio enters into forward currency contracts (“forward contracts”) for the purpose of hedging exposure to changes in foreign currency exchange rates on its holdings. A forward contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The value of the forward contract fluctuates with changes in currency exchange rates. The forward contract is marked-to-market daily and the change in value is recorded by the Portfolio as unrealized appreciation or depreciation. When the forward contract is closed, the Portfolio records a realized gain or loss equal to the fluctuation in value during the period the forward contract was open. The Portfolio could be exposed to credit risk if the counterparty is unable to meet the terms of a forward contract, or market risk if the value of the currency changes unfavorably.
Forward contracts may involve credit or market risk in excess of the amounts reflected on a Portfolio’s Statement of Assets and Liabilities. The gain or loss from the difference between the cost of original contracts and the amount realized upon the closing of such forward contracts is included in net realized gains or losses on foreign currency transactions. Fluctuations in the value of forward contracts held at December 31, 2017 are recorded for financial reporting purposes as net unrealized gains or losses. In addition, at December 31, 2017, the Portfolios entered into currency contracts to settle trades in
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foreign currencies. These transactions are included in “Receivable from investments sold” and “Payable for investments purchased” on the Statements of Assets and Liabilities. The settlement value of the forward contracts outstanding at December 31, 2017 and the month-end average contract amount for all forward contracts during the period ending December 31, 2017 are detailed in the table below:
Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | |||||||||||||||
Forward Foreign Currency Exchange Contracts: | Long | Short | Long | Short | ||||||||||||
Commodity Portfolio | $ | 121 | $ | 518 | $ | 546 | $ | 1,068 | ||||||||
International Portfolio | 146 | 6,622 | 24 | 1,104 | ||||||||||||
Institutional International Portfolio | 169 | 697 | 28 | 116 | ||||||||||||
Emerging Markets Portfolio | 42 | — | 7 | 3 |
Financial Futures Contracts: Certain of the Portfolios may be subject to equity price risk, interest rate risk, commodity price risk and foreign currency exchange rate risk in the normal course of pursuing their investment objectives. Certain of the Portfolios may invest in financial futures contracts (“futures contracts”) as part of their investment strategies, to gain exposure to or hedge against changes in the value of equities, interest rates or foreign currencies. The Commodity Portfolio may invest in commodity-linked futures contracts to gain exposure to the commodities market. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. Upon entering into a futures contract, a Portfolio is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount (initial margin deposit). Subsequent payments, known as “variation margin,” may be made or received by a Portfolio each day, depending on the daily fluctuations in the value of the underlying financial instrument. A Portfolio recognizes a gain or loss equal to the daily variation margin, which is recorded as a receivable or payable on the Statement of Assets and Liabilities (if applicable). When a futures contract is closed, a realized gain or loss is recorded as “Net realized gains/(losses) from futures transactions” on the Statement of Operations. Should market conditions move unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may realize a loss. The use of futures transactions involves the risk of an imperfect correlation in movements in the price of futures contracts, interest rates, and the underlying hedged assets. With futures contracts, there is minimal counterparty credit risk to the Portfolios since futures contracts are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees the futures contracts against default. Securities designated as collateral for market value on futures contracts are noted in each Portfolio’s Portfolio of Investments (if applicable). Such collateral is held with the broker. The notional value of the futures contracts outstanding at December 31, 2017 and the month-end average notional amount for the period ending December 31, 2017 are detailed in the table below:
Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | |||||||||||||||
Futures Contracts: | Long | Short | Long | Short | ||||||||||||
Value Portfolio | $ | 31,758 | $ | — | $ | 13,053 | $ | — | ||||||||
Institutional Value Portfolio | 50,691 | — | 53,126 | — | ||||||||||||
Growth Portfolio | 30,461 | — | 17,303 | — | ||||||||||||
Institutional Growth Portfolio | 34,664 | — | 17,227 | — | ||||||||||||
Small Cap-Mid Cap Portfolio | 13,444 | — | 4,575 | — | ||||||||||||
Institutional Small Cap-Mid Cap Portfolio | 9,449 | — | 4,744 | — | ||||||||||||
Real Estate Portfolio | 9,192 | — | 11,403 | — | ||||||||||||
Commodity Portfolio | 69,751 | 5,345 | 78,230 | 4,522 | ||||||||||||
ESG Growth Portfolio | — | — | 660 | — | ||||||||||||
International Portfolio | 52,672 | 11,922 | 24,082 | 11,977 | ||||||||||||
Institutional International Portfolio | 110,662 | 24,848 | 110,545 | 24,962 | ||||||||||||
Emerging Markets Portfolio | 49,225 | — | 47,840 | — | ||||||||||||
Fixed Opportunity Portfolio | 31,738 | 31,283 | 31,733 | 31,512 |
Purchased Options Contracts: Certain of the Portfolios may be subject to equity price risk, commodities price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure pending direct investment in securities, certain of the
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Portfolios may purchase put or call options. Options contracts provide the purchaser with the right, but not the obligation, to buy or sell (call or put option, respectively) a financial instrument at the exercise price. The Portfolio pays a premium which is included in “Investments, at value” on the Statement of Assets and Liabilities and marked-to-market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. When an option is exercised or closed, premiums paid for purchasing options are offset against proceeds to determine the realized gain or loss on the transaction.
Written Options Contracts: Certain of the Portfolios may be subject to equity price risk, commodities price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure pending direct investment in securities, certain of the Portfolios may write put or call options. Premiums received from written options contracts are recorded as liabilities on the Statement of Assets and Liabilities and are marked-to-market to reflect 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 written options transactions” on the Statement of Operations (if applicable). When writing an option, the Portfolio bears the market risk of unfavorable changes in the price of the underlying instrument.
With exchange-traded options, there is minimal counterparty credit risk to the Portfolios since the exchange’s clearinghouse, as counterparty to all exchange-traded options, guarantees the options against default. With over-the-counter options, the Portfolios bear the risk that counterparties will be unable to perform under the terms of the contracts.
The notional value of purchased and written options outstanding at December 31, 2017 and the month-end average notional amount for the period ending December 31, 2017 are detailed in the table below:
Option Contracts: | Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | ||||||
Commodity Portfolio | $ | 142 | $ | 3,003 | ||||
Fixed Opportunity Portfolio | 858 | 1,264 |
Swap Agreements: Certain of the Portfolios may enter into swap agreements (“swaps”) for purposes of attempting to gain exposure to the securities making up an index without actually purchasing those instruments, to hedge a position or to gain exposure to a particular instrument or currency. A swap is a two-party contract entered into for periods ranging from one day to more than one year. In a standard swap transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount,” i.e., the return on or increase in value of a particular dollar amount invested in a “basket” of securities representing a particular index. Swap agreements are privately negotiated in the over-the-counter (“OTC”) market and may be entered into as a bilateral contract (“OTC swaps”) or cleared through a third party, known as a clearing organization (“centrally cleared swap”). Swaps are marked to market daily based upon valuations as determined from the underlying contract or in accordance with the requirements of the clearing organization. Changes in market value, if any, are reflected as a component of net change in unrealized appreciation or depreciation on swap agreements on the Statement of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as variation margin on swap agreements on the Statement of Assets and Liabilities.
Interest Rate Swaps: Certain of the Portfolios are subject to interest rate risk exposure in the normal course of pursuing their investment objectives. Because certain Portfolios hold fixed-rate bonds, the value of these bonds may decrease if interest rates rise. In order to reduce such risks, certain Portfolios may enter into interest rate swaps. Interest rate swaps involve the exchange of commitments to pay and receive a fixed or floating rate of interest based on a notional principal amount. The risks of interest rate swaps include changes in market conditions that will affect their value or the cash flows and the possible inability of the counterparty to fulfill its obligations under the agreement. A Portfolio’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the swap’s remaining life. Net periodic interest payments to be received or paid are accrued daily and are recorded as realized gains or losses on the Statement of Operations. Swap agreements are privately negotiated in the over-the-counter (“OTC”) market and may be entered into as a bilateral contract (“OTC swaps”) or cleared through a third party, known as a clearing
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organization (“centrally cleared swap”). Swaps are marked to market daily based upon valuations as determined from the underlying contract or in accordance with the requirements of the clearing organization. Changes in market value, if any, are reflected as a component of net change in unrealized appreciation or depreciation on swap agreements on the Statement of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as variation margin on swap agreements on the Statement of Assets and Liabilities.
Total Return Swaps: Certain of the Portfolios may enter into total return swaps to gain or mitigate exposure to the underlying securities or indices. In “long” total return swaps, the counterparty will generally agree to pay the Portfolio the amount, if any, by which the notional amount of the swaps would have increased in value had it been invested in the particular instruments, plus an amount equal to any dividends or interest that would have been received on those instruments. The Portfolio will agree to pay to the counterparty an amount equal to a fixed or floating rate of interest on the notional amount of the swaps plus the amount, if any, by which the notional amount would have decreased in value had it been invested in such instruments plus, in certain instances, commissions or trading spreads on the notional amount. Total return swaps do not involve the delivery of securities or other underlying instruments. The net amount of the excess, if any, of a Portfolio’s obligations over its entitlements with respect to each swap is accrued on a daily basis and an amount of cash or liquid assets, having an aggregate value at least equal to such accrued excess, is maintained at the broker-dealer or the Portfolio’s custodian. Until a total return swap is settled in cash, the gain or loss on the notional amount plus dividends or interest on the instruments less the interest paid by the Portfolio on the notional amount is recorded as “unrealized appreciation or depreciation on swap agreements” and, when cash is exchanged, the gain or loss realized is recorded as “realized gains or losses on swap transactions.” A Portfolio may enter into total return swaps that provide the opposite return of its benchmark index or security (“short” the index or security). Its operations are similar to those swaps disclosed above except that the counterparty pays interest to the Portfolio on the notional amount outstanding and that dividends or interest on the underlying instruments reduce the value of the swaps plus, in certain instances, the Portfolio will agree to pay to the counterparty commissions or trading spreads on the notional amount. These amounts are netted against any unrealized appreciation or depreciation to determine the value of the swaps.
Variance Swaps: Certain of the Portfolios may invest in variance swaps to gain or reduce exposure to the underlying reference securities. Variance swaps involve the agreement of two parties to exchange cash flows based on the measured variance (or square of the volatility) of a specified underlying asset. One party agrees to exchange a “fixed rate” or strike price payment for the “floating rate” or realized price variance on the underlying asset with respect to the notional amount. At inception, the strike price is generally chosen such that the fair value of the swaps is zero. At the maturity date, a net cash flow is exchanged, where the payoff amount is equivalent to the difference between the realized price variance of the underlying asset and the strike price multiplied by the notional amount. As a receiver of the realized price variance, a Portfolio would receive the payoff amount when the realized price variance of the underlying asset is greater than the strike price and would owe the payoff amount when the variance is less than the strike price. As a payer of the realized price variance, a Portfolio would owe the payoff amount when the realized price variance of the underlying asset is greater than the strike price and would receive the payoff amount when the variance is less than the strike price. This type of swap is essentially a forward contract on the future realized price variance of the underlying asset.
The primary risks associated with the use of swaps are an imperfect correlation between the prices of financial instruments and movements in the prices of the underlying investments and the inability of counterparties to perform under the agreement. The counterparty to any swap agreement will typically be a bank, investment banking firm or broker-dealer. The Portfolio will bear the counterparty risk, i.e., the risk of loss of the net amount, if any, expected to be received under a swap in the event of the default or bankruptcy of the swap counterparty. The counterparty risk for centrally cleared swap agreements is generally lower than for OTC swap agreements because generally a clearing organization becomes substituted for each counterparty to a centrally cleared swap agreement and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to a clearing house for performance of financial obligations. However, there can be no assurance that the clearing house, or its members will satisfy obligations to the Portfolio. The unrealized gain or loss at December 31, 2017 is disclosed in the swap tables included in the Portfolios of Investments. The notional value of the
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swap agreements outstanding at December 31, 2017 and the month-end average notional amount for the period ending December 31, 2017 are detailed in the tables below (amounts in thousands):
Outstanding Notional Amount | Monthly Average Notional Amount | |||||||
Interest Rate Swap Agreements: | ||||||||
Commodity Portfolio | $ | 5,918 | $ | 5,944 | ||||
Variance Swap Agreements: | ||||||||
Commodity Portfolio | 759 | 543 | ||||||
Total Return Swap Agreements: | ||||||||
Commodity Portfolio | 1,465 | 1,366 | ||||||
Commodity Swap Agreements: | ||||||||
Commodity Portfolio | 23,017 | 22,976 | ||||||
Commodity Forward Swap Agreements: | ||||||||
Commodity Portfolio | 47 | 67 |
Outstanding Notional Amount | Monthly Average Notional Amount | |||||||||||||||
Buy Protection | Sell Protection | Buy Protection | Sell Protection | |||||||||||||
Credit Default Swap Agreements: | ||||||||||||||||
Fixed Opportunity Portfolio | $ | — | $ | 39,508 | $ | — | $ | 19,772 |
L. Inflation Indexed Bonds. Certain of the Portfolios may invest in inflation-indexed bonds, which are fixed-income securities whose principal value is periodically adjusted based on the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond, however, interest will be paid based on a principal value which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation-indexed bond resulting from inflation or deflation, respectively, as measured by the change in the Consumer Price Index, will be included as interest income or loss on the Statements of Operations, even though investors do not receive their principal until maturity. During the period ending December 31, 2017, the Inflation Protected Portfolio recognized income due to the increase in the Consumer Price Index.
Interest rates on conventional bonds have two primary components: a “real” yield and an increment that reflects investor expectations of future inflation. By contrast, interest payments on inflation-indexed bonds are adjusted for inflation and, therefore, are not affected meaningfully by inflation expectations. This leaves only changes in real rates to influence the price of inflation-indexed bonds. A rise in real rates will cause the price of inflation-indexed bonds to fall, while a decline in real rates will boost the price of inflation-indexed bonds. Inflation-indexed bonds issued by non-U.S. governments are generally indexed to the inflation rates prevailing in those countries.
The primary risk associated with the use of inflation-indexed bonds is that the principal value of an investment is not protected or otherwise guaranteed by virtue of the Portfolio’s investments in inflation-indexed bonds. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward and, consequently, the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value. Deflation risk is the possibility that prices throughout the economy decline over time and, in which case, the principal and income of an inflation-protected bond will decline and may result in losses.
M. Bank Loans. Certain Portfolios may invest in bank loans, which generally have interest rates which are reset periodically by reference to a base lending rate plus a premium. These base rates are primarily the London-Interbank Offered Rate and, secondarily, the prime rate offered by one or more major U.S. banks and the certificate of deposit rate or other base lending rates used by commercial lenders. Bank loans often require prepayments from excess cash flows or allow the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. Therefore, the
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anticipated or actual maturity may be considerably earlier than the stated maturity shown in the Portfolio of Investments. The Portfolios did not hold any bank loans as of December 31, 2017.
All or a portion of any bank loans may be unfunded. A Portfolio is obligated to fund any commitments at the borrower’s discretion. Therefore, the Portfolio must have funds sufficient to cover its contractual obligations. These unfunded loan commitments, which are marked-to-market daily, are presented in the Portfolio of Investments.
N. Securities Lending. Certain of the Portfolios may lend their portfolio securities to broker-dealers pursuant to a Master Securities Lending Agreement (“MSLA”) that requires the borrower to post collateral equal to at least the market value of the securities loaned, which is marked-to-market on a daily basis. Any collateral shortfalls associated with increases in the valuation of the securities loaned are adjusted the next business day. The Portfolios will continue to benefit from interest or dividends on the securities loaned and may also earn a return from the collateral. The Portfolios pay various fees in connection with the investment of the collateral. Any voting rights, or rights to consent, relating to securities loaned, pass to the borrower. Currently cash collateral received by a Portfolio in securities lending transactions may only be invested in repurchase agreements or money market funds that invest in U.S. treasury obligations. A Portfolio bears the risk of such investments. Securities on loan at December 31, 2017 are presented in the Portfolios of Investments. The Portfolios pay the Securities Lending Agent fees based on the investment income received from securities lending activities as reflected on the Statements of Operations.
Securities lending transactions are entered into by a Portfolio under a MSLA which permits the Portfolio, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset amounts payable by the Portfolio to the same counterparty against amounts to be received and create a net payment due to or from the Portfolio.
The following table is a summary of the Portfolios’ securities lending transactions accounted for as secured borrowings, which are subject to offset under an MSLA, at December 31, 2017 (amounts in thousands):
Portfolio | Value of Securities on Loan | Value of Collateral Received* | Net Amount | |||||||||
Value Portfolio | $ | 1,399 | $ | 1,399 | $ | — | ||||||
Institutional Value Portfolio | 5,250 | 5,250 | — | |||||||||
Growth Portfolio | 62 | 62 | — | |||||||||
Institutional Growth Portfolio | 105 | 105 | — | |||||||||
Small Cap-Mid Cap Portfolio | 327 | 327 | — | |||||||||
Institutional Small Cap-Mid Cap Portfolio | 807 | 807 | — | |||||||||
Commodity Portfolio | 18,541 | 18,541 | — | |||||||||
Catholic SRI Growth Portfolio | 3 | 3 | — | |||||||||
International Portfolio | 12,772 | 12,772 | — | |||||||||
Institutional International Portfolio | 36,960 | 36,960 | — | |||||||||
Emerging Markets Portfolio | 15,296 | 15,296 | — | |||||||||
Fixed Opportunity Portfolio | 12,559 | 12,559 | — |
* | The actual collateral received may be in excess of the amounts shown in the table. The table only reflects collateral amounts up to the amount of the value of securities on loan as disclosed in the Portfolios of Investments. Any collateral shortfalls associated with increases in the valuation of the securities loaned are adjusted the next business day. |
Securities lending transactions as of December 31, 2017 (amounts in thousands):
Security Type | Remaining Contractual Maturity of the Agreements | |||||||||||||||||||||||||||||||
Portfolio | Common Stock | Corporate Bonds | Yankee Dollars | Overnight and Continuous | Up to 30 days | Total Value of Securities on Loan | Value of Collateral Received | Net Amount Due to/(from) Counterparty | ||||||||||||||||||||||||
Value Portfolio | $ | 1,399 | $ | — | $ | — | $ | 1,399 | $ | — | $ | 1,399 | $ | 1,424 | $ | 25 | ||||||||||||||||
Institutional Value Portfolio | 5,250 | — | — | 5,250 | — | 5,250 | 5,346 | 96 | ||||||||||||||||||||||||
Growth Portfolio | 62 | — | — | 62 | — | 62 | 69 | 7 | ||||||||||||||||||||||||
Institutional Growth Portfolio | 105 | — | — | 105 | — | 105 | 116 | 11 | ||||||||||||||||||||||||
Small Cap-Mid Cap Portfolio | 327 | — | — | 327 | — | 327 | 340 | 13 |
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Security Type | Remaining Contractual Maturity of the Agreements | |||||||||||||||||||||||||||||||
Portfolio | Common Stock | Corporate Bonds | Yankee Dollars | Overnight and Continuous | Up to 30 days | Total Value of Securities on Loan | Value of Collateral Received | Net Amount Due to/(from) Counterparty | ||||||||||||||||||||||||
Institutional Small Cap-Mid Cap Portfolio | $ | 807 | $ | — | $ | — | $ | 807 | $ | — | $ | 807 | $ | 844 | $ | 37 | ||||||||||||||||
Commodity Portfolio | 18,541 | — | — | 17,042 | 1,499 | 18,541 | 19,295 | 754 | ||||||||||||||||||||||||
Catholic SRI Growth Portfolio | 3 | — | — | 3 | — | 3 | 3 | — | ||||||||||||||||||||||||
International Portfolio | 12,772 | — | — | 12,772 | — | 12,772 | 13,421 | 649 | ||||||||||||||||||||||||
Institutional International Portfolio | 36,960 | — | — | 36,960 | — | 36,960 | 41,099 | 4,139 | ||||||||||||||||||||||||
Emerging Markets Portfolio | 15,296 | — | — | 15,296 | — | 15,296 | 16,502 | 1,206 | ||||||||||||||||||||||||
Fixed Opportunity Portfolio | — | 11,303 | 1,256 | 12,559 | — | 12,559 | 14,237 | 1,678 |
O. Basis for Consolidation for the Commodity Portfolio. The HC Commodity Related Securities Fund, Ltd. and the HC Commodity Related Securities Fund II, Ltd. (the “Funds”) are incorporated as Cayman Islands exempted companies. The Funds are wholly-owned subsidiaries of the Commodity Portfolio and act as investment vehicles for the Commodity Portfolio for the purpose of effecting certain commodity-linked investments consistent with its investment objectives. The Funds may invest in commodity-linked derivative instruments including options, futures and swaps. The Funds may also invest in debt securities, some of which are intended to serve as margin or collateral for the Funds’ derivative positions.
Under the Articles of Association of each of the Funds, shares issued by the Funds give the Commodity Portfolio, as the sole shareholder, the right to receive notice of, to attend, and to vote at general meetings of the Funds, the right to participate in the profits of the Funds and rights to the assets of the Funds in the event that they are liquidated.
The following table summarizes the structure, incorporation and relationship information of the Funds, and certain financial information of the Funds recognized in the consolidated financial statements referred to above (amounts in thousands).
HC Commodity Related Securities Fund, Ltd. | HC Commodity Related Securities Fund II, Ltd. | |||||||
Date of Incorporation | April 27, 2011 | June 2, 2011 | ||||||
Fund Net Assets | ||||||||
Commodity Portfolio | $ | 9,871 | $ | 8,800 | ||||
Subsidiary percentage of Fund net assets | 1.12 | % | 1.00 | % | ||||
Consolidated Financial Statement Information | ||||||||
Total assets | $ | 9,949 | $ | 9,444 | ||||
Total liabilities | 78 | 644 | ||||||
Net assets | 9,871 | 8,800 | ||||||
Total investment income | 40 | 44 | ||||||
Net investment income | 40 | 44 | ||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | (17 | ) | 9 | |||||
Net realized gains/(losses) from futures transactions | 2,467 | 12 | ||||||
Net realized gains/(losses) from written options transactions | 2 | (6 | ) | |||||
Net realized gains/(losses) from swap transactions | 10 | 1,011 | ||||||
Net realized gains/(losses) from forward currency contracts | — | 33 | ||||||
Change in net unrealized appreciation/(depreciation) on investments and foreign currency translations | 108 | — | ||||||
Change in net unrealized appreciation/(depreciation) on futures | 563 | (22 | ) | |||||
Change in net unrealized appreciation/(depreciation) on written options | — | 1 | ||||||
Change in net unrealized appreciation/(depreciation) on swaps | 58 | 623 |
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HC Commodity Related Securities Fund, Ltd. | HC Commodity Related Securities Fund II, Ltd. | |||||||
Change in net unrealized appreciation/(depreciation) on forward currency contracts | $ | — | $ | (21 | ) | |||
Net realized/unrealized gains/(losses) from investments, futures, written options, swaps and foreign currency transactions | 3,191 | 1,640 | ||||||
Change in net assets resulting from operations | 3,231 | 1,684 |
The Commodity Portfolio’s investments in these Funds have been consolidated and include the portfolio holdings of the underlying Funds. The consolidated financial statements include the accounts of the Commodity Portfolio and the Funds. All intercompany transactions and balances have been eliminated.
P. Investment Company Reporting Modernization. In October 2016, the Securities and Exchange Commission (“SEC”) released its Final Rules on Investment Company Reporting Modernization (the “Rules”). The Rules introduce two new regulatory reporting forms for investment companies—Form N-PORT and Form N-CEN—and also contain amendments to Regulation S-X which require standardized, enhanced disclosures about derivatives in investment company financial statements, as well as other amendments. The amendments to Regulation S-X became effective for filings made with the SEC after August 1, 2017. The Portfolios’ adoption of these amendments, effective with the financial statements prepared as of December 31, 2017, required additional disclosures reflected herein, but had no effect on the Portfolios’ net assets or results of operations.
Q. Recent Accounting Pronouncements. In March 2017, FASB issued Accounting Standards Update No. 2017-08 “Premium Amortization on Purchased Callable Debt Securities” (“ASU 2017-08”), which shortens the premium amortization period for purchased non-contingently callable debt securities. ASU 2017-08 specifies that the premium amortization period ends at the earliest call date, for purchased non-contingently callable debt securities. ASU 2017-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the implications of ASU 2017-08 and its impact on the financial statements and related disclosures has not yet been determined.
3. INVESTMENT ADVISORY AND ADMINISTRATIVE CONTRACTS. The Trust has entered into investment advisory contracts (“Portfolio Management Contracts”) on behalf of each of the Portfolios with one or more investment management organizations (each, a “Specialist Manager”). For the Portfolio(s) it serves, each Specialist Manager is responsible for providing a continuous program of investment management for that portion of the Portfolio allocated to it and for placing all orders for the purchase and sale of securities and other instruments for such portion of the Portfolio. Except as noted, each Specialist Manager earns a fee, accrued daily and paid either monthly or quarterly, based on average daily net assets of that portion of the Portfolio managed.
For the period ending December 31, 2017, the Portfolios incurred the following investment advisory fees, before any applicable fee waivers, with respect to the services of the indicated Specialist Manager(s). The following annual fee rates are applied to the portions of the Portfolios that are managed by the Specialist Managers in determining amounts earned, except as footnoted.
Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
AllianceBernstein, L.P. | $ | 380 | 0.33 | %(a) | ||||
Cadence Capital Management, LLC | 100 | 0.065 | %(b) | |||||
Mellon Capital Management Corporation | 22 | 0.065 | %(c) | |||||
Parametric Portfolio Associates, LLC | 13 | 0.13 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.35 | %(e)(f) | |||||
Parametric Portfolio Associates, LLC | 2 | — | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 517 | 0.17 | % | ||||
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|
|
|
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Institutional Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
AllianceBernstein, L.P. | $ | 522 | 0.33 | %(a) | ||||
Cadence Capital Management, LLC | 114 | 0.065 | %(b) | |||||
Mellon Capital Management Corporation | 31 | 0.065 | %(c) | |||||
Pacific Investment Management Company, LLC | — | 0.25 | %(e) | |||||
Parametric Portfolio Associates, LLC | 28 | 0.09 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.35 | %(e)(f) | |||||
Parametric Portfolio Associates, LLC | 2 | — | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 697 | 0.17 | % | ||||
|
|
|
|
Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.065 | %(b)(e) | ||||
Jennison Associates, LLC | 251 | 0.27 | %(h) | |||||
Mellon Capital Management Corporation | 105 | 0.065 | %(c) | |||||
Sustainable Growth Advisers, LP | 401 | 0.29 | %(i) | |||||
Parametric Portfolio Associates, LLC | 16 | 0.10 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.35 | %(e)(f) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 773 | 0.19 | % | ||||
|
|
|
|
Institutional Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.065 | %(b)(e) | ||||
Jennison Associates, LLC | 347 | 0.27 | %(h) | |||||
Mellon Capital Management Corporation | 162 | 0.065 | %(c) | |||||
Pacific Investment Management Company, LLC | — | 0.25 | %(e) | |||||
Sustainable Growth Advisers, LP | 420 | 0.29 | %(i) | |||||
Parametric Portfolio Associates, LLC | 13 | 0.08 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.35 | %(e)(f) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 942 | 0.18 | % | ||||
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|
|
|
Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Advisory Research, Inc. | $ | 70 | 0.85 | % | ||||
Ariel Investments, LLC | 29 | 0.76 | %(j) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(e) | |||||
Frontier Capital Management Company, LLC | 84 | 0.45 | %(k) |
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Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | — | 0.065 | %(c) | ||||
Pzena Investment Management, LLC | 38 | 1.00 | % | |||||
RMB Capital Management, LLC | 121 | 0.70 | % | |||||
Parametric Portfolio Associates, LLC | 7 | 0.23 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 349 | 0.63 | % | ||||
|
|
|
|
Institutional Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Advisory Research, Inc. | $ | 93 | 0.85 | % | ||||
Ariel Investments, LLC | — | 1.00 | %(e)(j) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(b)(e) | |||||
Frontier Capital Management Company, LLC | 121 | 0.45 | %(k) | |||||
Mellon Capital Management Corporation | — | 0.065 | %(c) | |||||
Pzena Investment Management, LLC | 42 | 1.00 | % | |||||
RMB Capital Management, LLC | 200 | 0.70 | % | |||||
Parametric Portfolio Associates, LLC | 7 | 0.25 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 463 | 0.63 | % | ||||
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|
|
|
Real Estate Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.10 | %(e)(l) | ||||
Mellon Capital Management Corporation | — | 0.10 | %(e)(m) | |||||
Wellington Management Company, LLP | 366 | 0.70 | %(n) | |||||
Parametric Portfolio Associates, LLC | 10 | 0.15 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 376 | 0.64 | % | ||||
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|
|
|
Commodity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.10 | %(e)(l) | ||||
Mellon Capital Management Corporation | 253 | 0.10 | %(m) | |||||
Pacific Investment Management Company, LLC | 54 | 0.49 | % | |||||
Vaughan Nelson Investment Management, L.P. | 47 | 0.34 | %(o) | |||||
Wellington Management Company, LLP | 507 | 0.60 | %(p) | |||||
Wellington Management Company, LLP | 99 | 0.75 | %(q) | |||||
Parametric Portfolio Associates, LLC | 33 | 0.08 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 993 | 0.24 | % | ||||
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ESG Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | — | 0.12 | %(e) | ||||
Cadence Capital Management, LLC | 62 | 0.14 | %(r) | |||||
Mellon Capital Management Corporation | 31 | 0.09 | %(s) | |||||
Parametric Portfolio Associates, LLC | 5 | 0.15 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 98 | 0.13 | % | ||||
|
|
|
|
Catholic SRI Growth Portfolio
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | — | 0.12 | %(e) | ||||
Cadence Capital Management, LLC | 11 | 0.14 | %(t) | |||||
Mellon Capital Management Corporation | 6 | 0.09 | %(u) | |||||
Parametric Portfolio Associates, LLC | — | 0.15 | %(d)(e) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
|
|
|
| |||||
Total | $ | 17 | 0.12 | % | ||||
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|
|
|
International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 544 | 0.63 | %(v) | ||||
Cadence Capital Management, LLC | — | 0.13 | %(e)(w) | |||||
Cadence Capital Management, LLC | 323 | 0.10 | %(x) | |||||
Causeway Capital Management, LLC | 1,031 | 0.45 | % | |||||
City of London Investment Management Company, Ltd. | — | 0.74 | %(e)(y) | |||||
Mellon Capital Management Corporation | — | 0.10 | %(e)(z) | |||||
Mellon Capital Management Corporation | — | 0.13 | %(e)(aa) | |||||
Parametric Portfolio Associates, LLC | 12 | 0.13 | %(d) | |||||
Parametric Portfolio Associates, LLC | 3 | 0.50 | %(g) | |||||
|
|
|
| |||||
Total | $ | 1,913 | 0.30 | % | ||||
|
|
|
|
Institutional International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 684 | 0.63 | %(v) | ||||
Cadence Capital Management, LLC | — | 0.13 | %(e)(w) | |||||
Cadence Capital Management, LLC | 691 | 0.10 | %(x) | |||||
Causeway Capital Management, LLC | 1,135 | 0.45 | % | |||||
City of London Investment Management Company, Ltd. | 283 | 0.62 | %(y) | |||||
Lazard Asset Management LLC | 509 | 0.36 | %(bb) | |||||
Mellon Capital Management Corporation | — | 0.10 | %(e)(z) | |||||
Mellon Capital Management Corporation | — | 0.13 | %(e)(aa) |
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Specialist Manager | Amount Earned (000) | Fee | ||||||
Parametric Portfolio Associates, LLC | $ | 45 | 0.08 | %(d) | ||||
Parametric Portfolio Associates, LLC | 5 | 0.11 | %(g) | |||||
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| |||||
Total | $ | 3,352 | 0.26 | % | ||||
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Emerging Markets Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
The Boston Company Asset Management, LLC | $ | 2,441 | 0.58 | %(cc) | ||||
Cadence Capital Management, LLC | — | 0.13 | %(e)(w) | |||||
City of London Investment Management Company, Ltd. | — | 1.00 | %(e)(dd) | |||||
Mellon Capital Management Corporation | 350 | 0.13 | %(aa) | |||||
RBC Global Asset Management (UK) Limited | 1,222 | 0.68 | %(ee) | |||||
Parametric Portfolio Associates, LLC | 30 | 0.09 | %(d) | |||||
Parametric Portfolio Associates, LLC | — | 0.05 | %(e)(g) | |||||
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| |||||
Total | $ | 4,043 | 0.45 | % | ||||
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Core Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | 14 | 0.08 | % | ||||
Mellon Capital Management Corporation | 15 | 0.06 | %(ff) | |||||
Mellon Capital Management Corporation | — | 0.15 | %(e) | |||||
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Total | $ | 29 | 0.07 | % | ||||
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Fixed Opportunity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Fort Washington Investment Advisors, Inc. | $ | 455 | 0.20 | %(gg) | ||||
Mellon Capital Management Corporation | — | 0.25 | %(e) | |||||
Western Asset Management Company, Ltd. | 590 | 0.75 | % | |||||
Parametric Portfolio Associates, LLC | 18 | 0.09 | %(d) | |||||
Parametric Portfolio Associates, LLC | 13 | 0.08 | %(g) | |||||
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| |||||
Total | $ | 1,076 | 0.31 | % | ||||
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U.S. Government Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 63 | 0.06 | % | ||||
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Inflation Protected Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 72 | 0.04 | %(hh) | ||||
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U.S. Corporate Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | 88 | 0.08 | % | ||||
Mellon Capital Management Corporation | — | 0.15 | %(e) | |||||
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Total | $ | 88 | 0.08 | % | ||||
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U.S. Mortgage/Asset Backed Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Capital Management Corporation | $ | 53 | 0.06 | % | ||||
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Short-Term Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 11 | 0.125 | % | ||||
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Intermediate Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Standish Mellon Asset Management Company, LLC | $ | 312 | 0.17 | %(ii) | ||||
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Intermediate Municipal II Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 46 | 0.125 | % | ||||
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(a) | AllianceBernstein L.P. (“AllianceBernstein”) receives a fee, which shall be payable monthly in arrears, of 0.37% of the average daily net assets of the first $150 million of the Combined Assets (as defined below), 0.35% of the next $150 million of Combined Assets, and 0.29% of the Combined Assets exceeding $300 million. |
“Combined Assets” shall mean the sum of: the net assets of the portion of the Value Portfolio and the Institutional Value Portfolio managed by AllianceBernstein, and assets invested in the same investment strategy as the Portfolio that are managed by AllianceBernstein for certain other clients of the Trust’s primary adviser.
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(b) | Cadence Capital Management, LLC (“Cadence”) receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of the portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.075% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(c) | Mellon Capital Management Corporation (“Mellon”) receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of the portion of the Portfolio managed by Mellon. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.075% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions serves as investment adviser.
(d) | With respect to its Liquidity Strategy, Parametric Portfolio Associates, LLC (“Parametric”) receives a fee, which shall be calculated daily and payable monthly in arrears, at an annual rate of 0.15% of the first $50 million of the Combined Liquidity Assets (as defined below); 0.10% of the next $100 million of Combined Liquidity Assets; and 0.05% of Combined Liquidity Assets over $150 million. Parametric is also entitled to receive a flat fee of $10,000 per year for each Portfolio. 1/12 of such fee will be waived with respect to each calendar month during which no Portfolio assets were allocated to that Portfolio. |
“Combined Liquidity Assets” shall mean the sum of: the net assets of that portion of each Portfolio managed by Parametric for investment in its Liquidity Strategy.
(e) | Specialist Manager approved by the Board but a strategy to which no assets were allocated during the period ending December 31, 2017. |
(f) | With respect to its Defensive Strategy, Parametric receives a fee, which shall be calculated daily and payable monthly in arrears, at an annual rate of 0.35% of the first $50 million of the Combined Defensive Assets (as defined below) and 0.25% of Combined Defensive Assets over $50 million. |
“Combined Defensive Assets” shall mean the sum of: the net assets of that portion of the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, and Institutional Growth Portfolio managed by Parametric for investment in its Defensive Strategy.
(g) | With respect to its Targeted Strategy, Parametric receives a fee, which shall be calculated daily and payable in arrears at the rate of 0.05%. Parametric is also entitled to receive a flat fee of $5,000 per year for each Portfolio, provided that such fee will be waived with respect to each calendar year during which no Portfolio assets were allocated to that Portfolio. |
(h) | 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;
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— 0.35% on the next $25 million;
— 0.25% on the next $335 million;
— 0.22% on the next $600 million;
— 0.20% on the next $4 billion; and
— 0.25% on the balance
(i) | Sustainable Growth Advisers, LP (“SGA”) receives a fee, which shall be calculated daily and payable monthly, at an annual rate of 0.35% of the first $200 million of Combined Assets (as defined below); 0.30% of the next $200 million of Combined Assets; 0.25% of the next $200 million of Combined Assets; 0.22% of the next $400 million of Combined Assets; and 0.20% of Combined Assets exceeding $1 billion. |
“Combined Assets” shall mean the sum of: the net assets managed by SGA in the Growth Portfolio, the net assets managed by SGA in the Institutional Growth Portfolio, and the net assets invested in the same strategy as the Portfolios that are managed by SGA for certain other clients of the Trust’s primary adviser.
(j) | For its services to the Small Cap-Mid Cap Portfolio and the Institutional Small Cap-Mid Cap Portfolio, Ariel Investments, LLC (“Ariel”) receives an annual fee, calculated daily and payable quarterly, in arrears, based on the Combined Assets (as defined below), in accordance with the following schedule: 1.00% of the first $10 million of the Combined Assets, 0.75% of the next $10 million of Combined Assets, and 0.50% of the Combined Assets exceeding $20 million. Ariel did not manage assets for the Institutional Small Cap-Mid Cap Portfolio during the period shown in the table. |
“Combined Assets” shall mean the sum of: the net assets managed by Ariel in the Small Cap-Mid Cap Portfolio, the Institutional Small Cap-Mid Cap Portfolio and the net assets invested in the same strategy as the Portfolios that are managed by Ariel for certain other clients of the Trust’s primary adviser or certain of its affiliates.
(k) | Frontier Capital Management Company, LLC (“Frontier”) receives a fee, which shall be calculated daily and payable monthly, at an annual rate of 0.45% of the first $90 million of Combined Assets (as defined below) and 0.75% of Combined Assets exceeding $90 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Frontier in the Small Cap-Mid Cap Portfolio, the net assets managed by Frontier in the Institutional Small Cap-Mid Cap Portfolio, and the net assets invested in the same strategy as the Portfolios that are managed by Frontier for certain other clients of the Trust’s primary adviser.
(l) | Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of the portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(m) | Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of the portion of the Portfolio managed by Mellon. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(n) | Wellington Management Company, LLP (“Wellington”) receives a fee, which shall be payable monthly in arrears of 0.75% of the average daily net assets of the first $50 million of the Combined Assets (as defined below). On Combined Assets over $50 million, the fee shall be at the annual rate of 0.65% of the Combined Assets. |
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“Combined Assets” shall mean the sum of: the net assets of the Real Estate Portfolio and assets invested in the same investment strategy as the Portfolio that are managed by Wellington for certain other clients of the Trust’s primary adviser.
(o) | Vaughan Nelson Investment Management L.P. (“Vaughan Nelson”) receives a fee, which is calculated daily and payable quarterly, at the annual rate of 0.35% of the first $25 million of Combined Assets (as defined below), 0.25% of the next $75 million of Combined Assets, and 0.20% of the Combined Assets exceeding $100 million. |
“Combined Assets” shall mean the sum of: the net assets of the Commodity Portfolio and the net assets managed by Vaughan Nelson in other investment advisory accounts for which HC Capital Solutions serves as investment adviser.
(p) | With respect to its Global National Resources Strategy (“GNRS”), Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.60% of the average daily net assets of the GNRS account, so long as at least $150 million in assets are present in the GNRS and 0.85% if less than $150 million in assets are present in the GNRS. Effective November 1, 2017 through December 31, 2017, Wellington has temporarily and voluntarily waived fees in excess of 0.25% of the average daily net assets in the Portfolio. |
(q) | With respect to its Commodity Futures Strategy account, Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.75% of the average daily net assets of the Commodity Futures Strategy account. |
(r) | For its services to the Portfolio, Cadence receives a fee calculated based on the average daily net assets of that portion of the assets of the Portfolio managed by it based on the asset class in which assets of the account are invested, as set forth below. In each case, the annual rate set forth is applied to the average daily net assets of that portion of the assets allocated to the designated asset class (“Designated Assets”). |
Domestic Large Cap Equity Securities at the rate of 0.09% of the net asset value of Designated Assets; Domestic Small and Mid Cap Equity Securities at the rate of 0.12% of the net asset value of Designated Assets; Developed Markets International Equity Securities at the rate of 0.14% of the net asset value of Designated Assets; and Emerging Markets International Equity Securities at the rate of 0.18% of the net asset value of Designated Assets.
(s) | With respect to the Domestic Large Cap Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.09% of the net assets value of Designated Assets. |
Effective June 23, 2018, the third anniversary of the agreement effective date, Mellon will be entitled to receive a fee, which shall be calculated daily and payable monthly in arrears at a rate of 0.12% of the net asset value of Designated Assets if the net asset value of such assets is less than $100 million and at the rate of 0.09% of the net asset value of Designated Assets if the net asset value of such assets equals or exceeds $100 million.
With respect to the Developed Markets International Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.14% of the net asset value of Designated Assets.
Effective June 23, 2018, the third anniversary of the agreement effective date, Mellon will be entitled to receive a fee, which shall be calculated daily and payable monthly in arrears at a rate of 0.20% of the net asset value of Designated Assets if the net asset value of such assets is less than $100 million and at the rate of 0.14% of the net asset value of Designated Assets if the net asset value of such assets equals or exceeds $100 million.
With respect to the Domestic Small and Mid Cap Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.12% of such net assets.
With respect to the Emerging Markets International Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.18% of such net assets.
(t) | For its services to the Portfolio, Cadence receives a fee calculated based on the average daily net assets of that portion of the assets of the Portfolio managed by it based on the asset class in which assets of the account are invested, as set forth below. In each case, the annual rate set forth is applied to the average daily net assets of that portion of the assets allocated to the designated asset class (“Designated Assets”). |
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Domestic Large Cap Equity Securities at the rate of 0.09% of the net asset value of Designated Assets; Domestic Small and Mid Cap Equity Securities at the rate of 0.12% of the net asset value of Designated Assets; Developed Markets International Equity Securities at the rate of 0.14% of the net asset value of Designated Assets; and Emerging Markets International Equity Securities at the rate of 0.18% of the net asset value of Designated Assets.
(u) | With respect to the Domestic Large Cap Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.09% of the net assets value of Designated Assets. |
Effective December 5, 2018, the third anniversary of the agreement effective date, Mellon will be entitled to receive a fee, which shall be calculated daily and payable monthly in arrears at a rate of 0.12% of the net asset value of Designated Assets if the net asset value of such assets is less than $100 million and at the rate of 0.09% of the net asset value of Designated Assets if the net asset value of such assets equals or exceeds $100 million.
With respect to Domestic Small and Mid Cap Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.12% of the net assets value of Designated Assets.
With respect to the Developed Markets International Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.14% of the net assets value of Designated Assets.
Effective December 5, 2018, the third anniversary of the agreement effective date, Mellon will be entitled to receive a fee, which shall be calculated daily and payable monthly in arrears at a rate of 0.20% of the net asset value of Designated Assets if the net asset value of such assets is less than $100 million and at the rate of 0.14% of the net asset value of Designated Assets if the net asset value of such assets equals or exceeds $100 million.
With respect to the Emerging Markets International Equity Securities portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears at the rate of 0.18% of such net assets.
(v) | Artisan Partners Limited Partnership (“Artisan”) receives a fee, which shall be payable monthly in arrears. For so long as the Combined Assets (as defined below) are greater than $500 million, the fee shall be at the annual rate of 0.47% of the average daily net assets of the Portfolios. If the Combined Assets are reduced to $500 million or less, the fee shall be calculated based on average daily net assets of the Portfolios at the following annual rates: |
— 0.80% on assets up to $50 million; and
— 0.60% on assets in excess of $50 million
“Combined Assets” shall mean the sum of: the net assets of the International Portfolio managed by Artisan and the net assets of the Institutional International Portfolio managed by Artisan.
(w) | With respect to the emerging markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(x) | With respect to the developed markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
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“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(y) | City of London Investment Management Company, Ltd. (“CLIM”) receives a fee, which shall be calculated daily and payable monthly in arrears at the annual rate of 0.80% of the first $50 million of the Combined Assets (as defined below) and 0.40% of the Combined assets exceeding $50 million. |
“Combined Assets” shall mean the sum of: the net assets managed by CLIM in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by CLIM for certain other clients of the Trust’s primary adviser.
(z) | With respect to the developed markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(aa) | With respect to the emerging markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap-Mid Cap Portfolio, Institutional Small Cap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or one of its affiliates serves as investment adviser.
(bb) | Lazard Asset Management, LLC (“Lazard”) receives a fee which shall be payable monthly in arrears at the annual rate of 0.40% of the average daily net assets of the first $75 million and 0.35% on the excess over $75 million of that portion of the Portfolio managed by Lazard. |
(cc) | The Boston Company Asset Management, LLC (“Boston Company”) receives an annual fee of 0.90% of the average daily net assets of the first $50 million; 0.85% of the average daily net assets on the next $50 million; 0.70% of the average daily net assets on the next $100 million; 0.55% of the average daily net assets on the next $200 million; and 0.50% of the average daily net assets over $400 million of that portion of the Portfolio managed by Boston Company. |
(dd) | CLIM receives a fee, which shall be calculated daily and payable quarterly in arrears at the annual rate of 1.00% of the first $100 million of the Combined Assets (as defined below); 0.80% of the next $100 million of the Combined Assets; and 0.50% of the Combined Assets exceeding $200 million. |
“Combined Assets” shall mean the sum of: the net assets managed by CLIM in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by CLIM for certain other clients of the Trust’s primary adviser.
(ee) | RBC Global Asset Management (U.K.) Limited receives a fee which shall be payable quarterly in arrears at the annual rate of 0.80% of the first $100 million of Combined Assets; 0.65% of the next $150 million of Combined Assets; and 0.60% of Combined Assets in excess of $250 million. |
“Combined Assets” shall mean the sum of (i) the net assets of the Account; and (ii) the net assets of each other investment advisory account for which Hirtle Callaghan & Co serves as investment adviser and for which Portfolio Manager provides portfolio management services (“Other Hirtle Accounts”) using the same strategies as employed for the Account.
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(ff) | Mellon receives a fee which shall be calculated daily and payable monthly at the annual rate of 0.06% of the average daily net assets of the U.S. mortgage- and asset-backed and U.S. Government securities portions of the Core Fixed Income Portfolio managed by Mellon. Mellon also receives a fee at the annual rate of 0.06% of the average daily net assets of the U.S. Government Fixed Income Portfolio and the U.S. Mortgage/Asset Backed Fixed Income Portfolio. |
(gg) | Fort Washington Investment Advisors, Inc. (“Fort Washington”) receives a fee, which shall be payable quarterly in arrears. For so long as the Combined Assets (as defined below) are greater than $200 million, the fee shall be at the annual rate of 0.20% of the Combined Assets. If the Combined Assets are reduced to $200 million or less due to withdrawals or redemptions, beginning with the first calendar quarter following the date of such withdrawals or redemptions, the fee shall be based on 0.40% of the Combined Assets of the first $25 million, 0.375% of the Combined Assets of the next $25 million, 0.3375% of the Combined Assets of the next $50 million, 0.25% of the Combined Assets of the next $100 million, and 0.20% of the Combined Assets exceeding $200 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Fort Washington in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Fort Washington for the benefit of certain investors who are clients of the Trust’s primary adviser.
(hh) | Mellon receives a fee, which shall be payable monthly in arrears, at the annual rate of: 0.04% of the average daily net assets invested according to a domestic inflation-protected securities strategy; 0.07% of the average daily net assets invested according to a global inflation-protected securities strategy; and 0.13% of the average daily net assets invested according to an emerging-markets inflation-protected securities strategy. |
(ii) | Standish Mellon Asset Management Company LLC (“Standish Mellon”) receives a fee, which shall be calculated daily and payable quarterly, at an annual rate of 0.25% for the first $100 million of the Combined Assets (as defined below) and 0.15% of the Combined Assets exceeding $100 million. Standish Mellon is entitled to receive a fee at an annual rate not to exceed 0.20% of the Combined Assets. |
“Combined Assets” shall mean the sum of: the net assets managed by Standish Mellon in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Standish Mellon for the benefit of certain investors who are clients of the Trust’s primary adviser.
Pursuant to discretionary investment advisory agreements between the Trust and the Adviser, the Adviser is paid a fee which is accrued daily and paid monthly at an annual rate of 0.05% of average daily net assets per Portfolio. The fees that the Adviser receives are listed as “Management fees” on the Statements of Operations. The Adviser continuously monitors the performance of various investment management organizations, including the Specialist Managers retained by the Trust, and generally oversees the services provided to the Trust by its administrator, custodian and other service providers. The Adviser is also authorized to allocate and reallocate assets among Specialist Managers in multi-manager portfolios of the Trust from time to time without additional authorization of the Board. In addition, the Adviser makes its officers available to serve as officers and/or Trustees of the Trust, and maintains office space sufficient for the Trust’s principal office. The Securities and Exchange Commission has issued an order that permits the Trust to enter into portfolio management agreements with Specialist Managers upon the approval of the Board but without submitting such contracts for the approval of the shareholders of the relevant Portfolio under certain circumstances.
Citi Fund Services Ohio, Inc. provides the Portfolios with administrative and fund accounting services. The fees for these services are disclosed as “Administrative service fees” on the Statements of Operations. The fees are accrued daily and payable on a monthly basis at an annual rate of 0.0506% of the Trust’s Portfolios’ average daily net assets up to $6 billion; 0.0047% of the Trust’s Portfolios’ average daily net assets between $6 billion and $12 billion; and 0.0276% of average daily net assets in excess of $12 billion.
FIS Investor Services LLC, a wholly-owned subsidiary of Fidelity National Information Services, provides dividend and capital gains disbursing agent and transfer agency services. The fees for these services are disclosed as “Transfer agency fees” on the Statements of Operations. The fees are accrued daily and payable on a monthly basis at an annual rate of 0.0034% of the Trust’s Portfolios’ average daily net assets up to $6 billion; 0.0003% of the Trust’s Portfolios’ average daily net assets between $6 billion and $12 billion; and 0.0019% of average daily net assets in excess of $12 billion.
The Trust has adopted a Distribution Plan for the HC Advisors Shares under which the Adviser may receive compensation for distribution services. Under the Distribution Plan, which was adopted pursuant to Rule 12b-1 under the
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1940 Act, the Adviser is entitled to receive a fee of up to 0.25% annually of the average daily net assets attributable to the HC Advisors Shares. Currently, the Adviser is voluntarily waiving all fees associated with the Distribution Plan, and there is no current intention to collect such a fee.
Unified Financial Securities, LLC (“Unified”), a wholly-owned subsidiary of Ultimus Fund Solutions LLC, provides certain distribution services to the Trust. Unified receives an annual fee of $50,000 for performing the services listed under its agreement with the Trust. None of Unified’s duties under its agreement are primarily intended to result in the sale of Trust shares.
Alaric Compliance Services, LLC (“Alaric”) provides an employee to serve as the Trust’s Chief Compliance Officer. For these services, Alaric is compensated $150,000 per year.
The Portfolios may use related party broker-dealers. For the period ended December 31, 2017, the following Portfolio incurred brokerage commissions with broker-dealers affiliated with the Specialist Managers as follows:
Portfolio | Commissions Amount (000) | |||
Emerging Markets Portfolio | $ | 12 |
4. PURCHASE AND SALE TRANSACTIONS. The aggregate cost of purchases and proceeds from sales of investment securities, other than long-term U.S. government securities, TBA securities and short-term securities, for the period ending December 31, 2017 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Value Portfolio | $ | 159,334 | $ | 169,589 | ||||
Institutional Value Portfolio | 115,731 | 89,657 | ||||||
Growth Portfolio | 165,352 | 201,671 | ||||||
Institutional Growth Portfolio | 96,909 | 133,814 | ||||||
Small Cap–Mid Cap Portfolio | 26,822 | 38,704 | ||||||
Institutional Small Cap–Mid Cap Portfolio | 36,045 | 35,889 | ||||||
Real Estate Portfolio | 30,004 | 24,045 | ||||||
Commodity Portfolio | 133,554 | 129,535 | ||||||
ESG Growth Portfolio | 13,708 | 14,630 | ||||||
Catholic SRI Growth Portfolio | 3,866 | 3,582 | ||||||
International Portfolio | 195,790 | 211,257 | ||||||
Institutional International Portfolio | 426,257 | 394,084 | ||||||
Emerging Markets Portfolio | 338,314 | 408,600 | ||||||
Core Fixed Income Portfolio | 8,836 | 16,539 | ||||||
Fixed Opportunity Portfolio | 117,813 | 115,229 | ||||||
U.S. Corporate Fixed Income Portfolio | 63,768 | 55,197 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 1,473 | 726 | ||||||
Short-Term Municipal Portfolio | 3,509 | 3,750 | ||||||
Intermediate Municipal Portfolio | 54,273 | 38,185 | ||||||
Intermediate Municipal II Portfolio | 12,148 | 8,032 |
The aggregate cost of purchases and proceeds from sales of long-term U.S. government securities for the period ending December 31, 2017 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Commodity Portfolio | $ | 168 | $ | 1,195 | ||||
Core Fixed Income Portfolio | 6,900 | 16,347 | ||||||
Fixed Opportunity Portfolio | 10,308 | — | ||||||
U.S. Government Fixed Income Portfolio | 37,698 | 36,212 | ||||||
Inflation Protected Portfolio | 46,149 | 33,427 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 21,595 | 12,614 |
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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, under certain circumstances, utilize equalization accounting for tax purposes by designating earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as a part of the dividends paid deduction for income tax purposes.
The Trust has evaluated tax positions taken or expected to be taken in the course of preparing each Portfolio’s tax returns to determine whether it is more likely than not (i.e., greater than 50-percent chance) that each tax position will be sustained upon examination by a tax authority based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. Differences between tax positions taken in a tax return and amounts recognized in the financial statements will generally result in an increase in a liability for taxes payable (or a reduction of a tax refund receivable), including the recognition of any related interest and penalties as an operating expense. Tax positions taken in tax years remain subject to examination by tax authorities (generally the last three tax year ends 2014 to 2016, and the interim tax period since then). The determination has been made that there are no uncertain tax positions that would require the Portfolios to record a tax liability and, therefore, there is no impact to the Portfolios’ financial statements. Furthermore, management of the Portfolios is not aware of any tax position for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.
A. Unrealized Appreciation/Depreciation on investments (amounts in thousands):
Portfolio | Tax Cost of Securities | Tax Unrealized Appreciation | Tax Unrealized (Depreciation) | Net Tax Unrealized Appreciation/ (Depreciation) | ||||||||||||
Value Portfolio | $ | 506,870 | $ | 151,649 | $ | (11,128 | ) | $ | 140,521 | |||||||
Institutional Value Portfolio | 749,916 | 183,383 | (26,083 | ) | 157,300 | |||||||||||
Growth Portfolio | 502,155 | 323,995 | (6,994 | ) | 317,001 | |||||||||||
Institutional Growth Portfolio | 726,014 | 431,955 | (15,817 | ) | 416,138 | |||||||||||
Small Cap Mid–Cap Portfolio | 84,884 | 33,391 | (5,586 | ) | 27,805 | |||||||||||
Institutional Small Cap–Mid Cap Portfolio | 119,079 | 49,581 | (5,559 | ) | 44,022 | |||||||||||
Real Estate Portfolio | 107,757 | 20,729 | (2,189 | ) | 18,540 | |||||||||||
ESG Growth Portfolio | 137,043 | 28,510 | (4,627 | ) | 23,883 | |||||||||||
Catholic SRI Growth Portfolio | 24,743 | 6,627 | (403 | ) | 6,224 | |||||||||||
International Portfolio | 1,137,248 | 250,504 | (42,035 | ) | 208,469 | |||||||||||
Institutional International Portfolio | 2,334,371 | 459,592 | (89,786 | ) | 369,806 | |||||||||||
Emerging Markets Portfolio | 1,591,496 | 325,718 | (86,135 | ) | 239,583 | |||||||||||
Core Fixed Income Portfolio | 92,511 | 1,055 | (472 | ) | 583 | |||||||||||
Fixed Opportunity Portfolio | 675,823 | 32,550 | (11,304 | ) | 21,246 | |||||||||||
U.S. Government Fixed Income Portfolio | 214,737 | 2,375 | (2,381 | ) | (6 | ) | ||||||||||
Inflation Protected Portfolio | 374,332 | 7,095 | (1,260 | ) | 5,835 | |||||||||||
U.S. Corporate Fixed Income Portfolio | 260,427 | 5,395 | (494 | ) | 4,901 | |||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 213,755 | 1,303 | (1,388 | ) | (85 | ) | ||||||||||
Short-Term Municipal Portfolio | 17,111 | 12 | (84 | ) | (72 | ) | ||||||||||
Intermediate Municipal Portfolio | 393,153 | 4,251 | (6,104 | ) | (1,853 | ) | ||||||||||
Intermediate Municipal II Portfolio | 75,370 | 1,771 | (128 | ) | 1,643 |
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, the difference between book and tax accretion methods for market discount, and in-kind purchase by an investor that, for tax purposes, created a controlling interest in a Portfolio.
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B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal year ending June 30, 2017 were as follows (amounts in thousands):
Distributions Paid From: | ||||||||||||||||||||||||||||
Year Ended June 30, 2017 | Ordinary Income | Net Long Term Gains | Total Taxable Distributions | In Excess of Net Investment Income | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||||||
Value Portfolio | $ | 17,474 | $ | 17,692 | $ | 35,166 | $ | — | $ | 35,166 | $ | — | $ | 35,166 | ||||||||||||||
Institutional Value Portfolio | 24,153 | 29,406 | 53,559 | — | 53,559 | — | 53,559 | |||||||||||||||||||||
Growth Portfolio | 10,748 | 41,125 | 51,873 | — | 51,873 | — | 51,873 | |||||||||||||||||||||
Institutional Growth Portfolio | 19,107 | 61,384 | 80,491 | — | 80,491 | — | 80,491 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 89 | — | 89 | 47 | 136 | — | 136 | |||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 188 | 2,379 | 2,567 | — | 2,567 | — | 2,567 | |||||||||||||||||||||
Real Estate Portfolio | 2,191 | 9,896 | 12,087 | — | 12,087 | — | 12,087 | |||||||||||||||||||||
ESG Growth Portfolio | 3,827 | — | 3,827 | — | 3,827 | — | 3,827 | |||||||||||||||||||||
Catholic SRI Growth Portfolio | 1,271 | — | 1,271 | — | 1,271 | — | 1,271 | |||||||||||||||||||||
International Portfolio | 34,104 | — | 34,104 | — | 34,104 | — | 34,104 | |||||||||||||||||||||
Institutional International Portfolio | 67,853 | — | 67,853 | — | 67,853 | — | 67,853 | |||||||||||||||||||||
Emerging Markets Portfolio | 39,612 | — | 39,612 | 2,252 | 41,864 | — | 41,864 | |||||||||||||||||||||
Core Fixed Income Portfolio | 1,941 | — | 1,941 | — | 1,941 | — | 1,941 | |||||||||||||||||||||
Fixed Opportunity Portfolio | 36,119 | — | 36,119 | — | 36,119 | — | 36,119 | |||||||||||||||||||||
U.S. Government Fixed Income Portfolio | 3,597 | 1,686 | 5,283 | — | 5,283 | — | 5,283 | |||||||||||||||||||||
Inflation Protected Portfolio | 9,596 | — | 9,596 | — | 9,596 | — | 9,596 | |||||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 6,632 | 675 | 7,307 | — | 7,307 | — | 7,307 | |||||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 4,778 | — | 4,778 | — | 4,778 | — | 4,778 | |||||||||||||||||||||
Short-Term Municipal Portfolio | 1 | — | 1 | — | 1 | 185 | 186 | |||||||||||||||||||||
Intermediate Municipal Portfolio | 67 | — | 67 | — | 67 | 7,528 | 7,595 | |||||||||||||||||||||
Intermediate Municipal II Portfolio | 16 | 98 | 114 | — | 114 | 1,543 | 1,657 |
* | Total distributions paid may differ from what appears in the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. |
Amounts designated as “—” are $0 or have been rounded to $0.
C. Components of Accumulated Earnings
As of June 30, 2017, 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 | $ | 5,545 | $ | 7,164 | $ | 12,709 | $ | — | $ | — | $ | 106,868 | $ | 119,577 | ||||||||||||||
Institutional Value Portfolio | 18,687 | 21,477 | 40,164 | — | — | 101,676 | 141,840 | |||||||||||||||||||||
Growth Portfolio | 2,518 | 20,644 | 23,162 | — | — | 272,450 | 295,612 | |||||||||||||||||||||
Institutional Growth Portfolio | 6,516 | 16,416 | 22,932 | — | — | 339,231 | 362,163 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | — | — | — | — | (5,650 | ) | 25,878 | 20,228 | ||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | — | 8,806 | 8,806 | — | — | 38,593 | 47,399 | |||||||||||||||||||||
Real Estate Portfolio | 296 | 3,657 | 3,953 | — | (1,025 | ) | 19,510 | 22,438 |
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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) | |||||||||||||||||||||
ESG Growth Portfolio | $ | 176 | $ | — | $ | 176 | $ | — | $ | (1,734 | ) | $ | 11,487 | $ | 9,929 | |||||||||||||
Catholic SRI Growth Portfolio | 371 | 190 | 561 | — | (3 | ) | 3,754 | 4,312 | ||||||||||||||||||||
International Portfolio | 1,276 | — | 1,276 | — | (30,610 | ) | 118,042 | 88,708 | ||||||||||||||||||||
Institutional International Portfolio | 17,832 | — | 17,832 | — | (23,822 | ) | 211,742 | 205,752 | ||||||||||||||||||||
Emerging Markets Portfolio | — | — | — | — | (127,612 | ) | 99,013 | (28,599 | ) | |||||||||||||||||||
Core Fixed Income Portfolio | 30 | — | 30 | (6 | ) | (245 | ) | 616 | 395 | |||||||||||||||||||
Fixed Opportunity Portfolio | 1,570 | — | 1,570 | — | (56,923 | ) | 21,759 | (33,594 | ) | |||||||||||||||||||
U.S. Government Fixed Income Portfolio | 105 | — | 105 | (59 | ) | (78 | ) | 1,049 | 1,017 | |||||||||||||||||||
Inflation Protected Portfolio | 1,656 | — | 1,656 | — | (559 | ) | 1,730 | 2,827 | ||||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 232 | 48 | 280 | (115 | ) | — | 3,798 | 3,963 | ||||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 146 | — | 146 | (79 | ) | (7,845 | ) | 206 | (7,572 | ) | ||||||||||||||||||
Short-Term Municipal Portfolio | 2 | — | 2 | — | (2 | ) | 49 | 49 | ||||||||||||||||||||
Intermediate Municipal Portfolio | 183 | — | 183 | (40 | ) | (2,110 | ) | 2,445 | 478 | |||||||||||||||||||
Intermediate Municipal II Portfolio | 39 | 3 | 42 | (10 | ) | — | 2,188 | 2,220 |
D. Capital Loss Carryforwards
As of their tax year ended June 30, 2017, the following Portfolios had capital loss carryforwards (“CLCFs”) as summarized below (amounts in thousands):
CLCFs subject to expiration:
Portfolio | Expires 2018 | Expires 2019 | Total | |||||||||
Small Cap–Mid Cap Portfolio | $ | 5,650 | $ | — | $ | 5,650 | ||||||
Intermediate Municipal Portfolio | — | 1,979 | 1,979 |
CLCFs not subject to expiration:
Portfolio | Total | |||
ESG Growth Portfolio | $ | 1,734 | ||
International Portfolio | 30,610 | |||
Institutional International Portfolio | 23,822 | |||
Emerging Markets Portfolio | 127,324 | |||
Core Fixed Income Portfolio | 245 | |||
Fixed Opportunity Portfolio | 56,923 | |||
Inflation Protected Portfolio | 559 | |||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 7,846 | |||
Short-Term Municipal Portfolio | 2 |
CLCFs that are not subject to expiration must be utilized before those that are subject to expiration. During the year ending June 30, 2017, the Portfolios utilized CLCFs as follows (amounts in thousands):
Portfolio | Total | |||
Small Cap–Mid Cap Portfolio | $ | 7,737 | ||
International Portfolio | 20,827 | |||
Institutional International Portfolio | 50,599 | |||
Fixed Opportunity Portfolio | 3,493 | |||
Inflation Protected Portfolio | 499 | |||
U.S. Corporate Fixed Income Portfolio | 546 | |||
Intermediate Municipal Portfolio | 2,181 |
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E. Deferred Losses
Under current tax law, capital losses and specified ordinary losses realized after October 31 and non-specified ordinary losses incurred after December 31 (ordinary losses collectively known as “late year ordinary loss”) may be deferred and treated as occurring on the first business day of the following fiscal year. The following Portfolios had deferred losses, which will be treated as arising on the first day of the fiscal year ending June 30, 2018 (amounts in thousands):
Portfolio | Post-October Capital Losses | Late Year Ordinary Losses | ||||||
Real Estate Portfolio | $ | 1,025 | $ | — | ||||
Catholic SRI Growth Portfolio | — | 3 | ||||||
Emerging Markets Portfolio | — | 288 | ||||||
U.S. Government Fixed Income Portfolio | 78 | — | ||||||
Intermediate Municipal Portfolio | 131 | — |
F. Book-To-Tax Differences
Distributions are based on amounts calculated in accordance with applicable federal tax regulations, which may differ from GAAP. To the extent these differences are permanent in nature (e.g., net operating losses, reclassification of bond discount and premium, equalization accounting, treatment of gains and losses relating to foreign currency transactions, distribution re-characterization, in-kind redemptions and differing treatment of income relating to swap agreements), such amounts are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences do not require reclassifications.
On the Statements of Assets and Liabilities, as a result of permanent book-to-tax differences, reclassification adjustments were made as follows (amounts in thousands):
Portfolio | Accumulated Net Investment Income/(Distributions in Excess of Net Investment Income) | Accumulated Net Realized Gains/(Losses) | Paid-In Capital | |||||||||
Value Portfolio | $ | (227 | ) | $ | (972 | ) | $ | 1,199 | ||||
Institutional Value Portfolio | (293 | ) | (12,936 | ) | 13,229 | |||||||
Growth Portfolio | (31 | ) | (1,208 | ) | 1,239 | |||||||
Institutional Growth Portfolio | (74 | )�� | (25,622 | ) | 25,696 | |||||||
Small Cap–Mid Cap Portfolio | 102 | (55 | ) | (47 | ) | |||||||
Institutional Small Cap–Mid Cap Portfolio | 97 | (8,760 | ) | 8,663 | ||||||||
Real Estate Portfolio | (37 | ) | (4,645 | ) | 4,682 | |||||||
ESG Growth Portfolio | 111 | (7 | ) | (104 | ) | |||||||
Catholic SRI Growth Portfolio | 6 | (5 | ) | (1 | ) | |||||||
International Portfolio | (47 | ) | 47 | — | ||||||||
Institutional International Portfolio | 4,359 | 69,974 | (74,333 | ) | ||||||||
Emerging Markets Portfolio | 2,219 | 33 | (2,252 | ) | ||||||||
Core Fixed Income Portfolio | 186 | (186 | ) | — | ||||||||
Fixed Opportunity Portfolio | (565 | ) | (1,864 | ) | 2,429 | |||||||
Inflation Protected Portfolio | 4 | (3,452 | ) | 3,448 | ||||||||
U.S. Corporate Fixed Income Portfolio | 24 | (24 | ) | — | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 1,301 | (1,301 | ) | — | ||||||||
Intermediate Municipal Portfolio | (4 | ) | 4 | — |
G. Commodity Portfolio Tax Information
The Commodity Portfolio has a tax year end of December 31.
The Commodity Portfolio’s tax cost of investments as of December 31, 2017 was $750,341, resulting in accumulated net unrealized appreciation of $137,929, consisting of $163,253 in gross unrealized appreciation and $25,324 in gross unrealized depreciation (amounts in thousands).
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The tax characteristics of distributions paid during the tax years ending December 31, 2017 and December 31, 2016 were as follows (amounts in thousands):
Distributions Paid From: | ||||||||||||||||||||||||
Year Ended December 31, 2017 | Ordinary Income | Net Long Term Gains | Total Taxable Distributions | Tax Return of Capital | Tax-Exempt Distributions | Total Distributions Paid* | ||||||||||||||||||
Commodity Portfolio | $ | 21,323 | $ | — | $ | 21,323 | $ | 83 | $ | — | $ | 21,406 | ||||||||||||
Year Ended December 31, 2016 | ||||||||||||||||||||||||
Commodity Portfolio | $ | 18,034 | $ | — | $ | 18,034 | $ | — | $ | — | $ | 18,034 |
* | Total distributions paid may differ from the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. |
Amounts designated as “—” are $0 or have been rounded to $0.
As of December 31, 2017, 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) | |||||||||||||||||||||
Commodity Portfolio | $ | — | $ | — | $ | — | $ | — | $ | (67,029 | ) | $ | 252,088 | $ | 185,059 |
During the tax year ended December 31, 2017, the Commodity Portfolio utilized $19,571 in CLCFs (amounts in thousands). At December 31, 2017, the Commodity Portfolio had the following CLCFs not subject to expiration:
Portfolio | Short-Term Amount | Long-Term Amount | Total | |||||||||
Commodity Portfolio | $ | — | $ | 66,997 | $ | 66,997 |
At December 31, 2017, the Commodity Portfolio had deferred losses, which will be treated as arising on the first day of the tax year ending December 31, 2017 as follows (amount in thousands):
Portfolio | Late Year Ordinary Losses | |||
Commodity Portfolio | $ | 32 |
On the Statement of Assets and Liabilities, as a result of permanent book-to-tax differences, reclassification adjustments were made as follows (amounts in thousands):
Portfolio | Accumulated Net Investment Income/(Distributions in Excess of Net Investment Income) | Accumulated Net Realized Gains/(Losses) | Paid-In Capital | |||||||||
Commodity Portfolio | $ | 4,171 | $ | 1,838 | $ | (6,009 | ) |
6. RISK CONSIDERATIONS.
Market Risk — Each Portfolio bears a basic risk that the value of the securities held by a Portfolio may decline in response to general market and economic conditions, or conditions that affect specific market sectors or individual companies.
Credit Risk — Credit risk is the risk that an issuer (or in the case of certain securities, the guarantor or counterparty) will be unable to make principal and interest payments when due. The creditworthiness of an issuer may be affected by a number of factors, including the financial condition of the issuer (or guarantor) and, in the case of foreign issuers, the financial condition of the region.
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Foreign Investment Risk — Investments in securities issued by non-U.S. companies and non-U.S. governments and their agencies may be adversely affected by the lack of timely or reliable financial information, political, social and/or economic developments abroad and foreign regulatory requirements and market practices. Securities denominated in foreign currencies are subject to the risk that the value of the foreign currency will decline in relation to the U.S. dollar. In addition, risks associated with foreign investments may be intensified in the case of investments in emerging-market countries, whose political, legal and economic systems are less developed and less stable than those of more developed nations.
Concentration Risk — Concentration risk is the risk that results from focusing investments in one industry or market sector. The Real Estate Portfolio and Commodity Portfolio concentrate their investments in real estate securities and commodity-related industries, respectively, which may present greater risks of loss than if the Portfolios were more broadly diversified over numerous unrelated industries.
Commodity-Related Derivatives Risk — The Commodity Portfolio, through its investment in its subsidiaries, will hold commodity-related derivatives. Commodity-related derivatives provide exposure, which may include long and/or short exposure, to the investment returns of physical commodities that trade in the commodities markets without investing directly in such physical commodities. The value of a commodity-related derivative typically is based on the price movements of a physical commodity (such as heating oil, precious metals, livestock, or agricultural products), a commodity futures contract or commodity index, or some other readily measurable economic variable. The value of commodity-related derivatives may be affected by changes in overall market movements, volatility of the underlying benchmark, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The value of commodity-related derivatives will rise or fall in response to changes in the underlying commodity or related index. Investments in commodity-related derivatives may be subject to greater volatility than non-derivative based investments. A highly liquid secondary market may not exist for certain commodity-related derivatives, and there can be no assurance that one will develop.
7. SIGNIFICANT SHAREHOLDERS.
Shareholders, including other funds, individuals, accounts, as well as the Portfolio’s investment manager(s) and/or investment personnel, may from time to time own (beneficially or of record) a significant percentage of the Portfolio’s Shares and can be considered to “control” the Portfolio when that ownership exceeds 25% of the Portfolio’s assets (which may differ from control as determined in accordance with accounting principles generally accepted in the United States of America).
The following list includes the Portfolios which had individual shareholder accounts with ownership of voting securities greater than 10% of the total outstanding voting securities but less than 25% and/or accounts with ownership of voting securities greater than 25% of the total outstanding voting securities.
Portfolio | Number of shareholders with ownership of voting securities of the Portfolio greater than 10% and less than 25% of the total Portfolio’s outstanding voting securities | Number of shareholders with ownership of voting securities of the Portfolio greater than 25% of the total Portfolio’s outstanding voting securities | ||||||
Small Cap-Mid Cap Portfolio | 1 | — | ||||||
Institutional Small Cap-Mid Cap Portfolio | 1 | — | ||||||
Real Estate Portfolio | 1 | — | ||||||
Commodity Portfolio | 1 | — | ||||||
ESG Growth Portfolio | 1 | 1 | ||||||
Catholic SRI Growth Portfolio | 2 | 1 | ||||||
Core Fixed Income Portfolio | 1 | — | ||||||
Short-Term Municipal Portfolio | — | 1 |
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Notes to Financial Statements (concluded) — December 31, 2017 (Unaudited)
8. IN-KIND REDEMPTIONS.
During August 2016, the Portfolios processed in-kind redemptions on behalf of two affiliated accounts owned by one shareholder account. The following values of securities and cash were redeemed from the Portfolios (amounts in thousands):
Portfolio | Net realized gains/ (losses) from in-kind Redemptions* | In-kind Redemptions | Cash Redemptions | |||||||||
Institutional Value Portfolio | $ | 16,488 | $ | 204,698 | $ | 57,351 | ||||||
Institutional Growth Portfolio | 28,230 | 291,050 | 65,519 | |||||||||
Institutional Small Cap-Mid Cap Portfolio | 9,158 | 58,339 | 13,405 | |||||||||
Real Estate Portfolio | 4,685 | 25,577 | 2,461 | |||||||||
Institutional International Portfolio | (67,462 | ) | 559,861 | 35,708 | ||||||||
Fixed Opportunity Portfolio | 2,456 | 123,294 | 52,359 | |||||||||
Inflation Protected Portfolio | 3,491 | 149,328 | 8,306 | |||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 354 | 13,314 | 3,812 |
* | Not recognized for tax purposes |
9. SUBSEQUENT EVENTS.
Management has evaluated subsequent events through the date these financial statements were issued.
On January 31, 2018, Standish Mellon and Boston Company were reorganized into Mellon, following which, Mellon was renamed BNY Mellon Asset Management North America Corporation.
Based on the evaluation, no additional disclosures or adjustments were required to the financial statements as of December 31, 2017.
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Additional Information — December 31, 2017 (Unaudited)
1. SECURITY PROXY VOTING. A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities is contained in the Statement of Additional Information. Information regarding how the Portfolios voted proxies relating to portfolio securities during the most recent twelve months ended June 30, is available without charge, upon request, by calling 800-242-9596 and on the Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov.
2. SHAREHOLDER VOTES. During the period ending December 31, 2017, no actions were taken by the shareholders of the Portfolios.
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, 2017 through December 31, 2017.
Actual Expenses: The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes: The table below provides information about hypothetical account values and hypothetical expenses based on each of the Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees or exchange fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value July 1, 2017 | Ending Account Value December 31, 2017 | Expenses Paid During Period1 | Annualized Expense Ratio | |||||||||||||||||
Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,106.60 | $ | 1.49 | 0.28 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,106.60 | $ | 1.49 | 0.28 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
Institutional Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,101.90 | $ | 1.48 | 0.28 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,101.80 | $ | 1.48 | 0.28 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,113.20 | $ | 1.65 | 0.31 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,113.40 | $ | 1.65 | 0.31 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
Institutional Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,113.40 | $ | 1.54 | 0.29 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,114.00 | $ | 1.55 | 0.29 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||
Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,083.10 | $ | 4.20 | 0.80 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.17 | $ | 4.08 | 0.80 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,082.80 | $ | 4.20 | 0.80 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.17 | $ | 4.08 | 0.80 | % |
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Beginning Account Value July 1, 2017 | Ending Account Value December 31, 2017 | Expenses Paid During Period1 | Annualized Expense Ratio | |||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,087.60 | $ | 3.95 | 0.75 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.42 | $ | 3.82 | 0.75 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,088.30 | $ | 3.95 | 0.75 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.42 | $ | 3.82 | 0.75 | % | ||||||||||||
Real Estate Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,015.20 | $ | 3.76 | 0.74 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.48 | $ | 3.77 | 0.74 | % | ||||||||||||
Commodity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,158.70 | $ | 1.96 | 0.36 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,158.70 | $ | 1.96 | 0.36 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.39 | $ | 1.84 | 0.36 | % | ||||||||||||
ESG Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,102.60 | $ | 1.59 | 0.30 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,103.70 | $ | 1.59 | 0.30 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||
Catholic SRI Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,113.70 | $ | 1.65 | 0.31 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,113.60 | $ | 1.65 | 0.31 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,102.70 | $ | 2.33 | 0.44 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.99 | $ | 2.24 | 0.44 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,101.60 | $ | 2.33 | 0.44 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.99 | $ | 2.24 | 0.44 | % | ||||||||||||
Institutional International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,097.20 | $ | 2.06 | 0.39 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.24 | $ | 1.99 | 0.39 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,097.30 | $ | 2.06 | 0.39 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.24 | $ | 1.99 | 0.39 | % | ||||||||||||
Emerging Markets Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,113.70 | $ | 3.52 | 0.66 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.88 | $ | 3.36 | 0.66 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,113.70 | $ | 3.52 | 0.66 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.88 | $ | 3.36 | 0.66 | % | ||||||||||||
Core Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,012.30 | $ | 1.62 | 0.32 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.59 | $ | 1.63 | 0.32 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,013.30 | $ | 1.62 | 0.32 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.59 | $ | 1.63 | 0.32 | % | ||||||||||||
Fixed Opportunity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,032.60 | $ | 2.20 | 0.43 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.04 | $ | 2.19 | 0.43 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,032.70 | $ | 2.20 | 0.43 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.04 | $ | 2.19 | 0.43 | % | ||||||||||||
U.S. Government Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,003.70 | $ | 0.96 | 0.19 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.25 | $ | 0.97 | 0.19 | % | ||||||||||||
Inflation Protected Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,021.00 | $ | 0.82 | 0.16 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.40 | $ | 0.82 | 0.16 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,022.00 | $ | 0.82 | 0.16 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.40 | $ | 0.82 | 0.16 | % |
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Beginning Account Value July 1, 2017 | Ending Account Value December 31, 2017 | Expenses Paid During Period1 | Annualized Expense Ratio | |||||||||||||||||
U.S. Corporate Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,022.70 | $ | 0.97 | 0.19 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.25 | $ | 0.97 | 0.19 | % | ||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,009.30 | $ | 1.11 | 0.22 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.10 | $ | 1.12 | 0.22 | % | ||||||||||||
Short-Term Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 997.80 | $ | 1.76 | 0.35 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.44 | $ | 1.79 | 0.35 | % | ||||||||||||
Intermediate Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,000.20 | $ | 1.41 | 0.28 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,000.20 | $ | 1.41 | 0.28 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
Intermediate Municipal II Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,003.10 | $ | 1.41 | 0.28 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,003.10 | $ | 1.41 | 0.28 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.79 | $ | 1.43 | 0.28 | % |
1 | Expenses are equal to the average account value over the period, multiplied by the Portfolio’s annualized expense ratio, multiplied by 184/365 (to reflect the one half year period). |
2 | Represents the hypothetical 5% annual return before expenses. |
4. ADDITIONAL FEDERAL INCOME TAX INFORMATION
A. Dividends Received Deduction. For corporate shareholders, the following percentage of the total ordinary income distributions paid during the tax year ending December 31, 2017, qualify for the corporate dividend received deduction for the following Portfolio:
Portfolio | Dividends Received Deduction | |||
Commodity Portfolio | 28.37% |
B. Qualified Dividends. For the tax year ending December 31, 2017, under current tax law, the following dividends paid may be subject to a maximum tax rate of 15%.
Portfolio | Dividends Paid | |||
Commodity Portfolio | 72.58% |
The Portfolio intends to designate the maximum amount allowable as taxed at a maximum rate of 15%. Complete information will be reported in conjunction with your 2017 Form 1099-DIV.
5. ACCESS TO QUARTERLY HOLDINGS
A complete schedule of each Portfolio’s portfolio holdings for the first and third fiscal quarter of each fiscal year is filed with the SEC on Form N-Q and is available on the SEC’s website at http://www.sec.gov. In addition, the schedules may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
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Additional Information (continued) — December 31, 2017 (Unaudited)
6. ADDITIONAL PORTFOLIO HOLDINGS INFORMATION
The following tables reflect the percentage of the total investments of each Portfolio attributable to the indicated industry sector, type of security or geographic region, as appropriate for the indicated Portfolio.
Value Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 8.4 | % | ||
Consumer Staples | 10.9 | % | ||
Energy | 9.6 | % | ||
Financials | 28.6 | % | ||
Health Care | 10.2 | % | ||
Industrials | 8.9 | % | ||
Information Technology | 10.8 | % | ||
Materials | 3.0 | % | ||
Real Estate | 2.9 | % | ||
Telecommunication Services | 2.5 | % | ||
Utilities | 3.8 | % | ||
Other | 0.4 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Institutional Value Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 8.2 | % | ||
Consumer Staples | 9.9 | % | ||
Energy | 9.9 | % | ||
Financials | 30.0 | % | ||
Health Care | 10.2 | % | ||
Industrials | 8.2 | % | ||
Information Technology | 10.7 | % | ||
Materials | 2.9 | % | ||
Real Estate | 2.7 | % | ||
Telecommunication Services | 2.5 | % | ||
Utilities | 3.7 | % | ||
Other | 1.1 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 19.0 | % | ||
Consumer Staples | 7.0 | % | ||
Energy | 3.3 | % | ||
Financials | 9.8 | % | ||
Health Care | 13.3 | % | ||
Industrials | 7.2 | % | ||
Information Technology | 35.0 | % | ||
Materials | 2.4 | % | ||
Real Estate | 1.4 | % | ||
Telecommunication Services | 0.1 | % | ||
Utilities | 0.0 | % | ||
Other | 1.5 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Institutional Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 18.1 | % | ||
Consumer Staples | 7.7 | % | ||
Energy | 3.3 | % | ||
Financials | 10.5 | % | ||
Health Care | 13.5 | % | ||
Industrials | 7.7 | % | ||
Information Technology | 34.2 | % | ||
Materials | 2.3 | % | ||
Real Estate | 1.3 | % | ||
Telecommunication Services | 0.1 | % | ||
Utilities | 0.0 | % | ||
Other | 1.3 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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Additional Information (continued) — December 31, 2017 (Unaudited)
Small Cap-Mid Cap Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 8.2 | % | ||
Consumer Staples | 1.3 | % | ||
Energy | 3.2 | % | ||
Financials | 27.1 | % | ||
Health Care | 11.1 | % | ||
Industrials | 14.8 | % | ||
Information Technology | 22.3 | % | ||
Materials | 7.1 | % | ||
Real Estate | 1.3 | % | ||
Telecommunication Services | 1.0 | % | ||
Utilities | 0.7 | % | ||
Other | 1.9 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Institutional Small Cap-Mid Cap Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 8.3 | % | ||
Consumer Staples | 1.3 | % | ||
Energy | 2.8 | % | ||
Financials | 22.3 | % | ||
Health Care | 12.9 | % | ||
Industrials | 15.7 | % | ||
Information Technology | 22.2 | % | ||
Materials | 7.7 | % | ||
Real Estate | 2.3 | % | ||
Telecommunication Services | 0.7 | % | ||
Utilities | 1.0 | % | ||
Other | 2.8 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Real Estate Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 6.0 | % | ||
Financials | 13.9 | % | ||
Health Care | 0.7 | % | ||
Real Estate | 79.4 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Commodity Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 0.1 | % | ||
Consumer Staples | 0.0 | % | ||
Energy | 46.8 | % | ||
Financials | 10.3 | % | ||
Health Care | 0.0 | % | ||
Industrials | 0.0 | % | ||
Information Technology | 0.0 | % | ||
Materials | 36.7 | % | ||
Real Estate | 0.0 | % | ||
Telecommunication Services | 0.0 | % | ||
Utilities | 0.0 | % | ||
Other | 6.1 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
ESG Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 11.9 | % | ||
Consumer Staples | 9.6 | % | ||
Energy | 6.0 | % | ||
Financials | 12.0 | % | ||
Health Care | 14.3 | % | ||
Industrials | 14.0 | % | ||
Information Technology | 18.4 | % | ||
Materials | 5.5 | % | ||
Real Estate | 2.5 | % | ||
Telecommunication Services | 3.3 | % | ||
Utilities | 2.5 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Catholic SRI Growth Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 14.5 | % | ||
Consumer Staples | 9.8 | % | ||
Energy | 6.8 | % | ||
Financials | 13.3 | % | ||
Health Care | 4.6 | % | ||
Industrials | 15.1 | % | ||
Information Technology | 19.6 | % | ||
Materials | 6.0 | % | ||
Real Estate | 2.8 | % | ||
Telecommunication Services | 4.2 | % | ||
Utilities | 3.3 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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Additional Information (continued) — December 31, 2017 (Unaudited)
International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 9.8 | % | ||
Consumer Staples | 6.8 | % | ||
Energy | 7.4 | % | ||
Financials | 22.4 | % | ||
Health Care | 11.1 | % | ||
Industrials | 14.9 | % | ||
Information Technology | 7.7 | % | ||
Materials | 7.6 | % | ||
Real Estate | 2.2 | % | ||
Telecommunication Services | 6.0 | % | ||
Utilities | 2.5 | % | ||
Other | 1.6 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Institutional International Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 10.3 | % | ||
Consumer Staples | 6.3 | % | ||
Energy | 7.2 | % | ||
Financials | 25.8 | % | ||
Health Care | 10.8 | % | ||
Industrials | 13.7 | % | ||
Information Technology | 6.7 | % | ||
Materials | 6.8 | % | ||
Real Estate | 2.9 | % | ||
Telecommunication Services | 5.3 | % | ||
Utilities | 2.8 | % | ||
Other | 1.4 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Emerging Markets Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 9.8 | % | ||
Consumer Staples | 7.2 | % | ||
Energy | 5.8 | % | ||
Financials | 29.9 | % | ||
Health Care | 1.7 | % | ||
Industrials | 6.6 | % | ||
Information Technology | 16.8 | % | ||
Materials | 6.7 | % | ||
Real Estate | 3.0 | % | ||
Telecommunication Services | 5.4 | % | ||
Utilities | 3.8 | % | ||
Other | 3.3 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Core Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Corporate | 23.7 | % | ||
Treasury | 23.5 | % | ||
Mutual Fund | 20.3 | % | ||
Agency | 17.4 | % | ||
Yankee Dollar | 4.1 | % | ||
Mortgage | 1.1 | % | ||
Asset Backed Securities | 0.2 | % | ||
Other | 9.7 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Fixed Opportunity Portfolio
Security Allocation | Percentage of Value | |||
Corporate | 53.0 | % | ||
Mortgage | 17.0 | % | ||
Yankee Dollar | 11.0 | % | ||
Mutual Fund | 9.5 | % | ||
Exchange-Traded Fund | 5.2 | % | ||
U.S. Government Agency Mortgages | 3.1 | % | ||
Repurchase Agreement | 1.0 | % | ||
Purchased Call Options | 0.0 | % | ||
Other | 0.2 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
U.S. Government Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 92.2 | % | ||
Agency | 4.1 | % | ||
Mutual Fund | 3.4 | % | ||
Corporate | 0.1 | % | ||
Yankee Dollar | 0.1 | % | ||
Other | 0.1 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Inflation Protected Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 95.5 | % | ||
Mutual Fund | 4.5 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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Additional Information (continued) — December 31, 2017 (Unaudited)
U.S. Corporate Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 4.2 | % | ||
Consumer Staples | 6.4 | % | ||
Energy | 10.2 | % | ||
Financials | 40.7 | % | ||
Health Care | 6.3 | % | ||
Industrials | 6.2 | % | ||
Information Technology | 5.3 | % | ||
Materials | 6.2 | % | ||
Real Estate | 0.9 | % | ||
Telecommunication Services | 6.8 | % | ||
Utilities | 6.8 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
U.S. Mortgage/Asset Backed Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Agency | 77.3 | % | ||
Mutual Fund | 16.2 | % | ||
Mortgage | 5.0 | % | ||
Asset Backed Securities | 1.3 | % | ||
Yankee Dollar | 0.2 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Short-Term Municipal Portfolio
Security Allocation | Percentage of Value | |||
Financials | 0.5 | % | ||
General | 8.8 | % | ||
General Obligation | 41.7 | % | ||
Health Care | 2.4 | % | ||
Higher Education | 6.0 | % | ||
Medical | 2.6 | % | ||
Power | 5.9 | % | ||
Revenue Bonds | 20.9 | % | ||
School District | 5.7 | % | ||
Water | 5.5 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Intermediate Municipal Portfolio
Security Allocation | Percentage of Value | |||
Airport | 6.4 | % | ||
Bond Bank | 0.7 | % | ||
Development | 1.2 | % | ||
Education | 3.9 | % | ||
Facilities | 4.4 | % | ||
Financials | 5.3 | % | ||
General | 14.6 | % | ||
General Obligation | 13.4 | % | ||
Higher Education | 2.5 | % | ||
Industrials | 0.0 | % | ||
Medical | 6.3 | % | ||
Nursing Homes | 0.4 | % | ||
Power | 4.5 | % | ||
Revenue Bonds | 10.1 | % | ||
School District | 3.5 | % | ||
Student Loan | 1.5 | % | ||
Tobacco Settlement | 2.5 | % | ||
Transportation | 7.1 | % | ||
Utilities | 3.1 | % | ||
Water | 8.0 | % | ||
Other | 0.6 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Intermediate Municipal II Portfolio
Security Allocation | Percentage of Value | |||
Education | 3.7 | % | ||
Facilities | 1.3 | % | ||
Financials | 6.1 | % | ||
General | 6.3 | % | ||
General Obligation | 31.2 | % | ||
Higher Education | 3.3 | % | ||
Medical | 3.7 | % | ||
Power | 3.7 | % | ||
Revenue Bonds | 13.4 | % | ||
School District | 2.1 | % | ||
Transportation | 7.6 | % | ||
Utilities | 3.2 | % | ||
Water | 14.4 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2017 (Unaudited)
7. BOARD APPROVAL OF INVESTMENT ADVISORY CONTRACTS
The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co. LLC (“Hirtle Callaghan”). The Adviser provides overall investment management services with respect to HC Capital Trust (the “Trust”) and each of its separate portfolios (“Portfolios”) pursuant to the terms of two separate agreements with the Trust (the “HC Contracts”). The Adviser is authorized under the HC Contracts to purchase and sell portfolio securities for the Portfolios. Day-to-day portfolio management services are generally provided to the respective Portfolios by one or more investment advisory organizations (each a “Specialist Manager”) pursuant to the terms of separate investment advisory agreements (each, a “Portfolio Management Agreement”). During the six month period covered by this report, the Trust offered twenty-two Portfolios, sixteen of which were managed by two or more Specialist Managers.1 Each Specialist Manager is responsible for providing day-to-day portfolio management services for that portion of a Portfolio’s assets allocated to it by, and under the supervision of, the Adviser.
During the six-month period covered by this report, the Trust’s Board of Trustees (the “Board”):
• | Approved the continuation of certain Portfolio Management Agreements, as set forth below; |
• | Approved amendments to two Portfolio Management Agreements with Mellon Capital Management Corporation (“Mellon Capital”) relating to two Portfolios; and |
• | Approved an “Adoption Agreement” acknowledging the continuation of existing Portfolio Management Agreements with three Specialist Managers2 that were affiliated with each other and combined their operations into one entity. |
In considering the information and materials described herein, the Trustees of the Trust who are not “interested persons” of the Trust or the Adviser within the meaning of the Investment Company Act (the “Independent Trustees”) were represented by, and met separately with, their independent legal counsel and were provided with a written description of their statutory responsibilities and the legal standards that are applicable to approvals of advisory agreements. In view of the broad scope and variety of factors and information, the Board did not find it practicable to, and did not, assign relative weights to the specific factors considered in reaching its conclusions to approve the various Portfolio Management Agreements and amendments. Rather, the conclusions were made on the basis of each Trustee’s business judgment after consideration of all of the factors taken in their entirety.
Continuation of Certain Portfolio Management Agreements. The Portfolio Management Agreements approved for continuance during the period (collectively, the “Continuing Agreements”) are identified below, together with the Specialist Managers subject to review during the period.
Specialist Manager | Portfolios | |
Advisory Research, Inc. | The Small Capitalization-Mid Capitalization Equity Portfolio | |
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | ||
Ariel Investments, LLC | The Small Capitalization-Mid Capitalization Equity Portfolio | |
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | ||
Artisan Partners Limited Partnership | The International Equity Portfolio | |
The Institutional International Equity Portfolio | ||
The Boston Company Asset Management, LLC | The Emerging Markets Portfolio |
1 | See Note 3 of Notes to Financial Statements, above. |
2 | As of January 31, 2018, The Boston Company Asset Management, LLC and Standish Mellon Asset Management Company, LLC were merged into Mellon Capital Management Corporation, which then changed its name to BNY Mellon Asset Management North America Corporation (“BNY Mellon AMNA”). |
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2017 (Unaudited)
Specialist Manager | Portfolios | |
Cadence Capital Management, LLC | The Value Equity Portfolio | |
The Institutional Value Equity Portfolio | ||
The Growth Equity Portfolio | ||
The Institutional Growth Equity Portfolio | ||
The Small Capitalization-Mid Capitalization Equity Portfolio | ||
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | ||
The Commodity Returns Strategy Portfolio | ||
The ESG Growth Portfolio | ||
The Catholic SRI Growth Portfolio | ||
The Real Estate Securities Portfolio | ||
The International Equity Portfolio | ||
The Institutional International Equity Portfolio | ||
The Emerging Markets Portfolio | ||
Causeway Capital Management LLC | The International Equity Portfolio | |
The Institutional International Equity Portfolio | ||
Frontier Capital Management Company, LLC | The Small Capitalization-Mid Capitalization Equity Portfolio | |
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | ||
Lazard Asset Management LLC | The Institutional International Equity Portfolio | |
Pzena Investment Management, LLC | The Small Capitalization-Mid Capitalization Equity Portfolio | |
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | ||
RBC Global Asset Management (UK) Limited | The Emerging Markets Portfolio | |
Wellington Management Company, LLP | The Commodity Returns Strategy Portfolio | |
The Real Estate Securities Portfolio |
In its deliberations with respect to each of the Continuing Agreements, the Board recognized that, under each such agreement, a Specialist Manager is responsible only for day-to-day investment decisions with respect to that portion of a Portfolio’s assets allocated to it. The Board further recognized that the Specialist Managers do not participate in the administration of any of the Portfolios or in the distribution of shares of any of the Portfolios and thus receive limited, if any, benefit from their association with the Trust other than the fee paid to them by the respective Portfolios for investment management services.
In approving the Continuing Agreements, the Board concluded that continuation of each of the Continuing Agreements was in the best interests of each respective Portfolio and consistent with the expectations of shareholders of the Portfolios. While the Board did not identify any particular factor as controlling, the Board gave substantial weight to the fact that the Trust is designed primarily to serve as a vehicle through which the Adviser implements asset allocation strategies on behalf of Hirtle Callaghan’s clients; and that shares of the respective Portfolios are generally available only to such clients. With respect to the nature, extent and quality of the services provided by each of the Specialist Managers, the Board was informed with respect to the specific investment process employed by each of the Specialist Managers in managing the assets of the respective Portfolios allocated to them and the qualifications of each Specialist Manager’s investment management personnel. The Board was also informed with respect to each Specialist Manager’s infrastructure and whether it appears to adequately support the strategies being implemented for the various Portfolios. The Board concluded that the nature, extent and quality of the portfolio management services provided by each of the Specialist Managers were satisfactory in light of the specific strategies employed on behalf of the respective Portfolios and, thus, supported a decision to approve the continuation of each of the Continuing Agreements.
The Board also considered representations made by the Adviser that the performance achieved by the relevant Specialist Managers was consistent with the Adviser’s expectations in the context of the overall objectives, and multi-manager strategy,
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HC CAPITAL TRUST
Additional Information (concluded) — December 31, 2017 (Unaudited)
of each of the respective Portfolios. During the course of its deliberations, the Board was informed with respect to publicly available information assembled by a third-party service provider about the performance of peer funds managed by other investment advisory organizations. The Board did not specifically rely on such information but based its conclusions on the facts and circumstances related to each Portfolio.
In concluding that continuation of the Continuing Agreements was appropriate, the Board did not rely upon any single factor but gave considerable weight to the Adviser’s recommendations and its assessment of each Specialist Manager’s overall compliance profile and the success and future ability of each Specialist Manager in capturing the respective Portfolios’ desired asset classes. Based on the foregoing, the Board concluded that the performance of the Specialist Managers was satisfactory and that continuation of such contracts was in the best interest of shareholders of the respective Portfolios.
The Board also concluded that the rate at which each of the Specialist Managers is compensated under the Continuing Agreements is reasonable. In reaching this conclusion, the Board had before it information about the impact of break-points, financial information about the Specialist Managers relating to factors such as profitability, comparable fees charged to other institutional clients and/or to peer funds for similar services and costs incurred by the Specialist Managers in providing services to the respective Portfolios. The Board was also informed with respect to advisory fees paid by other, unaffiliated, funds with similar objectives and strategies. In considering this information, the Board gave substantial weight to information demonstrating that the rate at which these Specialist Managers are compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser, including in several cases, negotiated fee waivers/reductions and scheduled breakpoints designed to recognize economies of scale where appropriate.
Approval of Amendments to Portfolio Management Agreements with Mellon Capital. During the period, the Board also approved amendments (the “Mellon Capital Amendments”) to the Portfolio Management Agreements (the “Mellon Capital Agreements”) with Mellon Capital related to each of the ESG Growth and Catholic SRI Growth Portfolios. The Board was informed with respect to the fact that under the Mellon Capital Agreements, Mellon Capital had been entitled to an initial fee of 0.09% of the average daily net assets of each Portfolio for domestic large cap equity securities and 0.14% of the average daily net assets for developed markets international equity securities for the first 12 months of each Mellon Capital Agreement’s effectiveness, after which Mellon Capital would be entitled to a larger fee for each asset class (0.12% and 0.20%, respectively) if the total assets committed to that asset class did not exceed $100 million. The Board was also informed that, despite the fact that the initial 12 month periods had passed and assets did not exceed $100 million for either asset class, Mellon Capital had previously agreed to extend the period during which the initial fee level would be applicable to 24 months.
At its meeting in September, 2017, the Board approved an amendment to the Mellon Capital Agreement related to The ESG Growth Portfolio that extended the initial fee levels for an additional 12 months, to a total of 36 months. At its meeting in December, 2017, the Board also approved an identical amendment to the Mellon Capital Agreement related to The Catholic SRI Growth Portfolio.
In approving the Mellon Capital Amendments, the Board reviewed information with respect to the nature, extent and quality of the services provided by Mellon Capital and the role of the organization in the context of the Portfolios, as well as Mellon Capital’s representations and the view of the Adviser to the effect that reduction of the advisory fee rate would not change or impair the nature, extent or quality of services provided to the Portfolios. Based on all of the information presented, the Board concluded that implementation of the Mellon Capital Amendments was in the interests of shareholders of the Portfolios.
Approval of Adoption Agreement with BNY Mellon AMNA. As noted above, as of January 31, 2018, three Specialist Managers that were all indirect wholly-owned subsidiaries of The Bank of New York Mellon Corporation (“BNY Mellon”) were combined into one new entity that is now named BNY Mellon Asset Management North America Corporation. At its meeting in December, 2018, the Board approved an Adoption Agreement with BNY Mellon AMNA, that was entered into after the restructuring was complete, under which BNY Mellon AMNA formally adopted each of the existing Portfolio Management Agreements and each was amended to reflect the new name of the combined entity.
In approving the Adoption Agreement, the Board noted that BNY Mellon AMNA would remain an indirect wholly-owned subsidiary of BNY Mellon and that: substantially all of the investment processes, operations, products, services, management and operating personnel of each of the three separate Specialist Managers were expected to remain in BNY Mellon AMNA; no change was anticipated in any of the investment processes previously employed by any of the three organizations; and there was no expectation that the restructuring would result in any changes in the personnel responsible for servicing the Portfolios
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HC CAPITAL TRUST
Trustees
LAURA ANNE CORSELL*
JARRETT B. KLING
HARVEY G. MAGARICK
R. RICHARD WILLIAMS
RICHARD W. WORTHAM III
* “Interested Person” as that term is defined in the Investment Company Act of 1940
Investment Adviser
HC Capital Solutions
Five Tower Bridge
300 Barr Harbor Drive, 5th Floor
West Conshohocken, PA 19428
Administrator
Citi Fund Services Ohio, Inc.
4400 Easton Commons, Suite 200
Columbus, OH 43219
Distributor
Unified Financial Securities, LLC
A subsidiary of Ultimus Fund Solutions, LLC
9465 Counselors Row, Suite 200
Indianapolis, IN 46240
Counsel
Stradley Ronon Stevens & Young, LLP
2005 Market Street, Suite 2600
Philadelphia, PA 19103-7018
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
41 South High Street, Suite 2500
Columbus, OH 43215
Custodian
State Street Bank and Trust Company
State Street Financial Center
1 Lincoln Street
Boston, MA 02111-2900
This report is for the information of the shareholders of HC Capital Trust. Its use in connection with any offering of the Trust’s shares is authorized only in case of a concurrent or prior delivery of the Trust’s current prospectus. The prospectus contains more complete information, including investment objectives, risks, fees and expenses and should be read carefully before investing or sending any money.
2/18
Table of Contents
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
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 Investment Company Act of 1940 (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. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not Applicable
Item 13. | Exhibits. |
(a)(1) Not applicable.
(a)(2) Certifications pursuant to Rule 30a-2(a) under the Act are attached hereto.
(a)(3) Not applicable.
(b) Certifications pursuant to Rule 30a-2(b) under the Act are attached hereto.
Table of Contents
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/ Jonathan J. Hirtle | |||
Jonathan J. Hirtle, Principal Executive Officer | ||||
Date: March 2, 2018 | ||||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. | ||||
By (Signature and Title) | /s/ Colette L. Bergman | |||
Colette L. Bergman, Principal Financial Officer | ||||
Date: March 2, 2018 | ||||
By (Signature and Title) | /s/ Jonathan J. Hirtle | |||
Jonathan J. Hirtle, Principal Executive Officer | ||||
Date: March 2, 2018 |