UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMN-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: June 30, 2019
Item 1. Reports to Stockholders.
Annual Report
The Value Equity Portfolio
The Institutional Value Equity Portfolio
The Growth Equity Portfolio
The Institutional Growth Equity Portfolio
The Small Capitalization–Mid Capitalization Equity Portfolio
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
The Real Estate Securities Portfolio
The Commodity Returns Strategy Portfolio
The 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
June 30, 2019
June 30, 2019
We are pleased to present the June 30, 2019 Annual Report for the HC Capital Trust (the “Trust”).
The Trust is an open-end management investment company. As of June 30, 2019, 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 to maximize 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 to maximize 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 a high level of 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 a high level of 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 a high level of current income, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
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| HC CAPITAL TRUST | | | | Annual Report |
June 30, 2019
Table of Contents
Fiscal Year 2019 Summary
General Market
(Unaudited — June 30, 2019)
The Portfolios of the HC Capital Trust provide clients with diversified exposure to multiple asset classes (for both taxable and institutional investors). The Portfolios diversify, where appropriate, across multiple managers and strategies. The Portfolios enable the construction of custom asset allocation portfolios that best meet clients’ overall investment policies and objectives. Depending upon the objective, each Portfolio will generally seek to deliver performance that exceeds, or isin-line with, the benchmark for the Portfolio as well as a peer universe of mutual funds with similar investment strategies.
Financial markets rose moderately over the course of the Fiscal Year (The MSCIAll-Country World Index rose 5.74%). The U.S. Economy continued to benefit from the Administration’s fiscal stimulus enacted in December 2017 as well as a measured normalization of policy rates. U.S. unemployment has fallen below 4.0% and inflation expectations remained well anchored below the U.S. Federal Reserve’s 2.0% target. Given the achievement of those policy mandates, the Federal Reserve continued to raise interest rates in the first half of the fiscal year. However, financial markets were marked by significant volatility as challenges to global growth emerged. Growth in real economic activity moderated worldwide. Particularly impacted was the manufacturing sector, while activity in services held up. The deceleration was especially pronounced in Europe. Coincidentally, corporate earnings growth decelerated modestly. Compounding the economic slowing was heightened rhetoric surrounding U.S./China trade negotiations. Bymid-December, the uncertainty of trade frictions and the economic growth outlook led to asell-off of risk assets. The Federal Reserve abruptly changed the course of its policy guidance in response to the growing uncertainty. Projected policy rates dropped by almost 100 basis points, in the second half of the fiscal year. The outlook for easier money ignited a dramatic rally in calendar 2019. The U.S.10-year Treasury yield dropped from 2.86% to approximately 2.00 by the year end.
U.S. equities appreciated strongly over the twelve months ended June 30, 2019 (10.42% for the S&P 500). Growth outperformed Value stocks (Russell 1000® Growth Index 11.56% versus Russell 1000® Value Index 8.46%). International developed market equities rose 2.17% in local currency terms (MSCI EAFE) and 1.08% in U.S. Dollar terms. The MSCI Emerging Markets index led the developed markets, rising 1.21% in U.S. Dollar terms. The U.S.10-year Treasury yield fell from 2.86% to 2.01% over the year. Falling yields led the US Investment Grade Bond market to a slight loss for the year (Bloomberg Barclays U.S. Aggregate Bond Index-0.40%).
1
Each of the Portfolios provided results consistent with their stated objectives over the fiscal year ended June 30, 2019. The performance of each Portfolio is listed in the table below and detailed summaries of the objectives, managers, and results are contained in the subsequent sections.
| | | | |
HC Capital Trust Portfolios | | Fiscal Year
2019 Return | |
The Value Equity Portfolio | | | 9.78% | (a) |
Russell 1000® Value Index1 | | | 8.46% | |
The Institutional Value Equity Portfolio | | | 9.14% | (a) |
Russell 1000® Value Index1 | | | 8.46% | |
The Growth Equity Portfolio | | | 12.22% | (a) |
Russell 1000® Growth Index1 | | | 11.56% | |
The Institutional Growth Equity Portfolio | | | 11.46% | (a) |
Russell 1000® Growth Index1 | | | 11.56% | |
The Small Capitalization–Mid Capitalization Equity Portfolio | | | -0.81% | (a) |
Russell 2000® Index1 | | | -3.31% | |
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | | | 1.22% | (a) |
Russell 2000® Index1 | | | -3.31% | |
The Real Estate Securities Portfolio | | | 12.54% | |
Dow-Jones U.S. Select Real Estate Securities Index2 | | | 9.75% | |
The Commodity Returns Strategy Portfolio | | | -3.73% | (a) |
Bloomberg Commodity Index3 | | | -6.75% | |
HC Commodities Benchmark4 | | | -5.08% | |
The ESG Growth Portfolio | | | 2.06% | (a) |
MSCI World Index5 | | | 6.94% | |
The Catholic SRI Growth Portfolio | | | 2.16% | (a) |
MSCI World Index5 | | | 6.94% | |
The International Equity Portfolio | | | 0.24% | (a) |
MSCI EAFE Index6 | | | 1.60% | |
The Institutional International Equity Portfolio | | | 0.09% | (a) |
MSCI EAFE Index6 | | | 1.60% | |
The Emerging Markets Portfolio | | | 4.11% | (a) |
MSCI EM Index7 | | | 1.61% | |
The Core Fixed Income Portfolio | | | 8.12% | (a) |
Bloomberg Barclays U.S. Aggregate Bond Index8 | | | 7.87% | |
The Fixed Income Opportunity Portfolio | | | 8.77% | (a) |
Bloomberg Barclays U.S. High Yield Ba/B 2% Issuer Capped Index9 | | | 8.77% | |
The U.S. Government Fixed Income Securities Portfolio | | | 6.87% | |
Bloomberg Barclays U.S. Government Bond Index10 | | | 7.21% | |
The Inflation Protected Securities Portfolio | | | 4.59% | (a) |
Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index11 | | | 4.84% | |
The U.S. Corporate Fixed Income Securities Portfolio | | | 11.07% | |
Bloomberg Barclays U.S. Corporate Index12 | | | 10.72% | |
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | | | 5.70% | |
Bloomberg Barclays U.S. Securitized Index13 | | | 6.37% | |
The Short-Term Municipal Bond Portfolio | | | 2.88% | |
ICE BofA Merrill Lynch1-3 Year Municipal Index14 | | | 2.77% | |
The Intermediate Term Municipal Bond Portfolio | | | 5.45% | (a) |
Bloomberg Barclays3-15 Year Blend Muni Index15 | | | 6.50% | |
The Intermediate Term Municipal Bond II Portfolio | | | 5.26% | (a) |
Bloomberg Barclays5-Year General Obligation Muni Index16 | | | 5.29% | |
In reviewing the table above and the remainder of this report, note that past performance does not guarantee future results. The remainder of this report contains more specific details about the performance, strategy and managers in each of the Portfolios.
| (a) | The return shown is that of HC Strategic Shares and has not been adjusted to reflect HC Advisors Shares expenses, which may be higher. |
2
| 1 | Each of the Russell indices is a marketcap-weighted index of common stocks domiciled in the U.S. Unlike the S&P 500 Stock Index however, the basket of securities included in the various Russell indices is reconstituted each year. The Russell 3000® Index is constructed by ranking U.S. common stocks from largest to smallest market capitalization, and including in the index the top 3,000 stocks. The largest 1,000 stocks become the Russell 1000® Index and the next 2,000 stocks are included in the Russell 2000® Index. The Russell 1000® Growth Index is designed to measure the performance of those companies included in the Russell 1000 Index that have relatively higherprice-to-book ratios and higher forecasted growth values. The Russell 1000 Value® Index is designed to measure the performance of those companies included in the Russell 1000® Index that have relatively lowerprice-to-book ratios and lower forecasted growth values. |
| 2 | TheDow-Jones U.S. Select Real Estate Securities Index is a broad measure of the performance of publicly traded global real estate securities, such as Real Estate Investment Trusts (“REITs”) and Real Estate Operating Companies (“REOCs”). The index is capitalization-weighted. The global index is an expansion of the original U.S. index, developed in 1991. |
| 3 | The Bloomberg Commodity Index is a broadly diversified index that allows investors to track commodity futures through a single, simple measure. The index is designed to minimize concentration in one commodity or sector. It currently includes 22 commodity futures in six groups. No one commodity can comprise less than 2% or more than 15% of the index, and no group can represent more than 33% of the index (as of the annualre-weightings of the components). |
| 4 | The HC Commodities Benchmark is comprised 50% of the Bloomberg Commodity Index and 50% of the MSCI ACWI Commodity Producers Index. The MSCI ACWI Commodity Producers Index captures the global opportunity set of commodity produces in the energy, metal and agricultural sectors. Constituents are selected from the equity universe of MSCI ACWI, the parent index, which covers mid and large cap securities across 24 Developed Markets (DM) and 21 Emerging Markets (EM) countries. All index constituents are categorized in one of twelve sub industries according to the Global Industry Classification Standard (GICS), including: integrated oil & gas, oil & gas exploration & production, gold, steel, aluminum, precious metals & minerals, agricultural products, paper products, and forest products. |
| 5 | The MSCI World Index is a broad global equity benchmark that represents lard andmid-cap equity performance across 23 developed markets countries. It covers approximately 85% of the free float-adjusted market capitalization in each country and does not offer exposure to emerging markets. As of June 30, 2019, the MSCI World Index consisted of the following 23 development markets: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States. |
| 6 | The Morgan Stanley Capital International Europe, Australasia, and Far East Index (“MSCI EAFE Index”) is an unmanaged, free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding Canada and the United States. As of June 2019, the MSCI EAFE Index consisted of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. |
| 7 | The MSCI Emerging Markets Index (“MSCI EM Index”) is an unmanaged free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. As of June 30, 2019, the MSCI EM Index consisted of the following 26 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. |
| 8 | The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index that includes more than 5,000 taxable government, investment-grade corporate and mortgage backed securities. |
| 9 | The Bloomberg Barclays U.S. High Yield Ba/B 2% Issuer Capped Index is an unmanaged index designed to mirror the investable universe of the U.S. dollar denominated high yield debt market. |
| 10 | The Bloomberg Barclays U.S. Government Index is a broad-based index that represents the general performance of U.S. Treasury and U.S. Government agency and debt securities. |
| 11 | The Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index consists of Inflation-Protection securities issued by the U.S. Treasury. |
| 12 | The Bloomberg Barclays U.S. Corporate Index is an unmanaged index that coversUSD-denominated, investment-grade, fixed-rate and taxable securities sold by industrial, utility and financial issuers. It includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity and quality requirements. |
| 13 | The Bloomberg Barclays U.S. Securitized Index is an unmanaged index that tracks the performance of mortgage-backed pass-through securities issued by Ginnie Mae, Fannie Mae and Freddie Mac, investment-grade bonds and asset-backed securities. |
| 14 | The ICE Bank of America (“BofA”) Merrill Lynch1-3 Year Municipal Index is an equal-weighted index that tracks the total return performance of the domestic U.S. municipal market. The index consists of investment-grade, publicly traded, fixed-rate and coupon bearing municipal securities with a maturity of one to three years. |
| 15 | The Bloomberg Barclays3-15 Year Blend Muni Index is an index composed oftax-exempt bonds with maturities ranging between 2 and 17 years. |
| 16 | The Bloomberg Barclays5-Year General Obligations Muni Index is an unmanaged index generally representative of investment grade fixed rate debt obligations issued by state and local government entities, with maturities of no more than six years. |
3
The Value Equity Portfolio
The Institutional Value Equity Portfolio
(Unaudited)
The Value Equity Portfolio, which was managed during the period by Cadence Capital Management, LLC (“Cadence”), and Parametric Portfolio Associates, LLC (“Parametric”) returned 9.78% for the fiscal year compared to 8.46% for the Russell 1000® Value Index1 and 6.60% for the average manager in the Lipper2 universe of Large Cap Value Funds.3
The Institutional Value Equity Portfolio, which was managed during the period by Cadence, Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation), Parametric and Pacific Investment Management Company, LLC (“PIMCO”) returned 9.14% for the fiscal year compared to 8.46% for the Russell 1000®1 Value Index and 6.60% for the average manager in the Lipper2 universe of Large Cap Value Funds.
The Portfolios outperformed both their benchmark and their peer group over the period. The Portfolios benefited from a lower exposure to value and yield oriented strategies employed by Parametric relative to the benchmark. Value underperformed growth during the fiscal year.
During the second half of the fiscal year, the Trust allocated assets to a US multi-factor strategy managed by PIMCO in the Institutional Value Equity Portfolio. PIMCO uses atop-down approach that creates single-factor portfolios, and then allocates assets across them to form a multi-factor portfolio. The PIMCO strategy will rely on Research Affiliates, LLC’s intellectual property and factor research. This approach was implemented in the Institutional Value Equity Portfolio, replacing Cadence.
Both the Value Equity Portfolio and the Institutional Value Equity Portfolio are diversified across multiple managers and strategies to ensure proper portfolio diversification, with the goal of providing superior long-term returns in as stable and consistent a manner as possible. As a result, it is expected that some managers and styles will be leading at times, while others are lagging and vice versa. The Portfolios expect to capitalize on this cyclicality of manager styles by reducing exposure to investment managers whose strategy and style realize exceptional excess returns and allocating to good long-term managers whose investment strategy and style have been out of favor in the short-term.
| 1 | The Russell 1000® Value Index measures the performance of those companies included in the Russell 1000® Index with lowerprice-to-book ratios and lower forecasted growth rates. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Mellon was also under contract to manage the Value Equity Portfolio but did not have assets allocated to it. |
4
The chart represents historical performance of a hypothetical investment of $10,000 in The Value Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 1000® Value Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Value Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.20%
HC Advisors Shares 0.45%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
5
The chart represents historical performance of a hypothetical investment of $10,000 in The Institutional Value Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 1000® Value Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Institutional Value Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.21%
HC Advisors Shares 0.46%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
6
The Growth Equity Portfolio
The Institutional Growth Equity Portfolio
(Unaudited)
The Growth Equity Portfolio, which was managed during the period by Jennison Associates, LLC (“Jennison”), Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation), and Parametric Portfolio Associates, LLC (“Parametric”) returned 12.22% for the fiscal year compared to 11.56% for the Russell 1000® Growth Index1 and 10.79% for the average manager in the Lipper2 universe of Large Cap Growth Funds.3
The Institutional Growth Equity Portfolio, which was managed during the period by Jennison, Mellon, and Parametric returned 11.46% for the fiscal year compared to 11.56% for the Russell 1000® Growth Index1 and 10.79% for the average manager in the Lipper2 universe of Large Cap Growth Funds.3
The Growth Equity Portfolio outperformed its benchmark and peer group. Thematically, higher allocations to quality growth style strategies in the first half of the fiscal year and especially during the market sell off in the 4th quarter of 2018 drove the relative outperformance. Quality growth managers favor companies with quality balance sheets and high growth potential which are also reasonably priced. The resulting portfolio includes relatively large companies with dominant market positions and, frequently, multinational exposure. Over the period, stocks with stable earnings and quality balance sheets posted strong performance as investors fled for safety.
During the second quarter of the fiscal year, a US Multi-Factor strategy was launched within The Institutional Growth Equity Portfolio, managed by Mellon. This strategy was initiated with the intention of capturing return over the benchmark through targeted exposure to a basket of market factors. The strategy’s execution did not end up in line with expectations, and US Multi-Factor was removed from The Institutional Growth Equity Portfolio in the final quarter of the fiscal year. The US Multi-Factor strategy had a negative impact on relative performance for The Institutional Growth Equity Portfolio during its time in the Portfolio.
During the third quarter of the fiscal year, a new strategy was launched within The Institutional Growth Equity Portfolio that seeks to capture return over the benchmark through investing in companies that are popular amongst leading hedge funds (“Four Corner Factor Strategy”). While those hedge funds do not immediately disclose their positions as they change, the Four Corner Factor Strategy optimizes holdings information from quarterly public Form 13-f filings to generate a list of companies to consider including in the Portfolio.
Both the Growth Equity Portfolio and the Institutional Growth Equity Portfolio are diversified across multiple managers and strategies to ensure proper portfolio diversification, with the goal of providing superior long-term returns in as stable and consistent a manner as possible. As a result, it is expected that some managers and styles will be leading at times, while others are lagging and vice versa. The Growth Equity Portfolio and the Institutional Growth Equity Portfolio expect to capitalize on this cyclicality of manager styles by reducing exposure to investment managers whose strategy and style realize extraordinary excess returns and allocating to good long-term managers whose investment strategy and style have been out of favor in the short-term.
| 1 | The Russell 1000® Growth Index measures the performance of those companies included in the Russell 1000® Index with higherprice-to-book ratios and higher forecasted growth rates. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Cadence Capital Management, LLC was also under contract to manage the Growth Equity Portfolio and the Institutional Growth Equity Portfolio but did not have assets allocated to it. Pacific Investment Management Company, LLC was also under contract to manage the Institutional Growth Equity Portfolio but did not have assets allocated to it. |
7
The chart represents historical performance of a hypothetical investment of $10,000 in The Growth Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 1000® Growth Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Growth Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.25%
HC Advisors Shares 0.50%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
8
The chart represents historical performance of a hypothetical investment of $10,000 in The Institutional Growth Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 1000® Growth Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Institutional Growth Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.24%
HC Advisors Shares 0.49%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
9
The Small Capitalization–Mid Capitalization Equity Portfolio
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
(Unaudited)
The Small Capitalization–Mid Capitalization Equity Portfolio (the “Portfolio”), which was managed during the period by Advisory Research, Inc. (“ARI”), Ariel Investments, LLC (“Ariel”), Frontier Capital Management Company, LLC (“Frontier”), Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation), Parametric Portfolio Associates, LLC (“Parametric”) and Pzena Investment Management, LLC (“Pzena”), returned-0.81% for the period compared to-3.31% return for the Russell 2000®1 Index and-3.34% for the average manager in the Lipper2 universe of Small Cap Core Funds.3
The Portfolio outperformed both its peer group and benchmark for the period. The Portfolio was hampered by allocations to Ariel and Pzena, which are both active managers that tilt heavily towards value. During the fiscal year, the Russell 2000 Value significantly underperformed Russell 2000 Growth(-6.24% vs-0.49%). The Portfolio benefited from a high growth, momentum-oriented portfolio managed by ARI and a Growth at a Reasonable Price or “GARP” style managed by Frontier.
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio (the “Institutional Portfolio”), which was managed during the period by ARI, Frontier, Mellon, Parametric and Pzena returned 1.22% for the period compared to a-3.31% return for the Russell 2000®1 Index and-3.34% for the average manager in the Lipper2 universe of Small Cap Core Funds.3
The Institutional Portfolio outperformed both its peer group and the benchmark for the period. The Institutional Portfolio benefited from allocations to a high growth, momentum-oriented portfolio managed by ARI a Growth at a Reasonable Price or “GARP” style managed by Frontier.
The performance difference between the Institutional Portfolio and the Portfolio was primarily driven by the inclusion of Ariels’s deep value style in the SmallCapitalization-Mid Capitalization Equity Portfolio. Ariel uses the market’s short-term focus to uncover mispriced companies whose true value will be realized over time.
Both the Portfolio and Institutional Portfolio (collectively the “Portfolios”) are diversified across multiple managers and strategies to ensure proper portfolio diversification, with the goal of providing superior long-term returns in as stable and consistent a manner as possible. As a result, it is expected that some managers and styles will be leading at times, while others are lagging and vice versa. The Portfolios expect to capitalize on this cyclicality of manager styles by reducing exposure to investment managers whose strategy and style realize extraordinary excess returns and allocating to good long-term managers whose investment strategy and style have been out of favor in the short-term.
| 1 | The Russell 2000® Index measures the performance of smaller capitalization U.S. companies. The largest 1,000 stocks become the Russell 1000® Index and the next 2,000 stocks become the Russell 2000® Index. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Ariel Investments, LLC (Institutional Portfolio only) and Cadence Capital Management, LLC were also under contract to manage the Portfolios but did not have assets allocated to them. |
10
The chart represents historical performance of a hypothetical investment of $10,000 in The Small Capitalization–Mid Capitalization Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 2000® Index, which represents the performance of domestically traded common stocks of small tomid-sized companies. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Small Capitalization–Mid Capitalization Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.70%
HC Advisors Shares 0.95%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
11
The chart represents historical performance of a hypothetical investment of $10,000 in The Institutional Small Capitalization–Mid Capitalization Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Russell 2000® Index, which represents the performance of domestically traded common stocks of small tomid-sized companies. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Institutional Small Capitalization–Mid Capitalization Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.55%
HC Advisors Shares 0.80%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
12
The Real Estate Securities Portfolio
(Unaudited)
The Real Estate Securities Portfolio (the “Portfolio”) managed by Parametric Portfolio Associates, LLC and Wellington Management Company, LLP returned 12.54% for the year compared to 9.75% for theDow-Jones U.S. Select Real Estate Securities Index1 and 10.43% for the average manager in the Lipper2 universe of Real Estate funds.3 The U.S. Real Estate Market outperformed many equity markets over the last twelve months as interest rates declined.
The Portfolio outperformed both the peer group and benchmark for the period. Security selection was positive while allocation withinsub-sectors slightly detracted from performance. Security selection within technology REITs was strong. Investors were rewarded for holding technology REITs as growth of cloud-spending improved. The Portfolio’s cash position was a detractor to performance as REITs rallied in the second half of the fiscal year. The Portfolio’s cash positions serve two purposes. First, they are intended to provide protection in the event of a market correction. Second, they allow the Portfolio to take overweight positions in more volatile strategies without increasing the Portfolio’s overall sensitivity to the market, or beta.
| 1 | TheDow-Jones U.S. Select Real Estate Securities Index is a broad measure of the performance of publicly traded global real estate securities, such as Real Estate Investment Trust (REITs) and Real Estate Operating Companies (REOCs). The index is capitalization-weighted. The global index is an expansion of the original U.S. index, developed in 1991. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Cadence Capital Management, LLC and Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) were also under contract to manage the Portfolio but did not have assets allocated to them. |
13
The chart represents historical performance of a hypothetical investment of $10,000 in The Real Estate Securities Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio. The Real Estate Securities Portfolio was redeemed in full on June 30, 2013 and recommenced operations on September 12, 2013.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to theDow-Jones U.S. Select Real Estate Securities Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Real Estate Securities Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.78%
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
14
The Commodity Returns Strategy Portfolio
(Unaudited)
The Commodity Returns Strategy Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation), Pacific Investment Management Company, LLC, Parametric Portfolio Associates, LLC, Vaughan Nelson Investment Management, L.P. and Wellington Management Company, LLP, returned-3.73% for the year compared to-6.75% for the Bloomberg Commodity Index1,-5.08% for the HC Commodities Benchmark2, and-9.44% for the average manager in the Lipper3 universe of Global Natural Resources Funds.4
The Portfolio outperformed the HC Commodities Benchmark, the Bloomberg Commodity Index and the peer group. The outperformance was primarily due to the Portfolio’s overweight in commodity-linked equities, which outperformed lower returns from commodity futures markets. The Portfolio holds more commodity-linked equities than futures to capture better risk/return characteristics for securities with commodity exposure.
| 1 | The Bloomberg Commodity Index is a broadly diversified index that allows investors to track commodity futures through a single, simple measure. The index is designed to minimize concentration in one commodity or sector. It currently includes 22 commodity futures in six groups. No one commodity can comprise less than 2% or more than 15% of the index, and no group can represent more than 33% of the index (as of the annualre-weightings of the components). This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | The HC Commodities Benchmark is composed of 50% of the Bloomberg Commodity Index2 and 50% of the MSCI ACWI Commodity Producers Index5. |
| 3 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 4 | During the fiscal year, Cadence Capital Management, LLC was also under contract to manage the Portfolio but did not have assets allocated to it. |
15
The chart represents historical performance of a hypothetical investment of $10,000 in The Commodity Returns Strategy Portfolio from 6/8/10 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Commodity Index and the 50% Bloomberg Commodity Index & 50% MSCI ACWI Commodity Producers Index. TheDow-Jones UBS Commodity Index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. The MSCI ACWI Commodity Producers Index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. An investor cannot invest directly in an index. The performance of The Commodity Returns Strategy Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.42%
HC Advisors Shares 0.67%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
16
The ESG Growth Portfolio
(Unaudited)
The ESG Growth Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation) and Parametric Portfolio Associates, LLC returned 2.06% for the year compared to 6.94% for the MSCI World Index.1
The Portfolio’s underperformance can be attributed primarily to the Global multi-factor strategy, which was run by Mellon. Mellon takes abottom-up approach that selects securities with the strongest combined exposures to all target factors. Investors did not reward fundamentals during the second half of the fiscal year. The portfolio struggled as investors focused on growth with little regard for fundamentals. Securities that were ranked in the top quintile (most attractive) underperformed the benchmark. The portfolio overweight to the top quintile and the selection within the top quintile were the primary drivers for portfolio under performance.
The Trust terminated its Portfolio Management Agreement with Cadence Capital Management, LLC related to this Portfolio during the second half of the fiscal year as it moved away from a selective factor model to a multi-factor model which provides broader universe exposure and diminishes isolated factor bets.
The Portfolio is diversified across multiple managers and strategies to ensure proper portfolio diversification, with the goal of providing superior long-term returns in as stable and consistent a manner as possible.2 As a result, it is expected that some styles will be leading at times, while others are lagging and vice versa. The Portfolio expects to capitalize on this cyclicality of styles by reducing exposure to strategies and styles that realize extraordinary excess returns and allocating to strategies and styles that have been out of favor in the short-term.
The Portfolio requires that the underlying managers integrate Environmental, Social and Governance (“ESG”) criteria in their investment selection. Mellon uses third party ESG data to better understand the environmental, social and governance risks and opportunities when making investment decisions.
| 1 | The MSCI World Index is an unmanaged index that is designed to capture large andmid-cap representation across 23 developed markets countries. The Index covers approximately 85% of the free float-adjusted market capitalization in each of the following countries: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | During the fiscal year, Agincourt Capital Management, LLC was also under contract to manage the Portfolio but did not have assets allocated to it. |
17
The chart represents historical performance of a hypothetical investment of $10,000 in The ESG Growth Portfolio from 7/14/15 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the MCSI World Index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The ESG Growth Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.34%
HC Advisors Shares 0.59%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
18
The Catholic SRI Growth Portfolio
(Unaudited)
The Catholic SRI Growth Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation) returned 2.16% for the year compared to 6.94% for the MSCI World Index.1
The Portfolio’s underperformance can be attributed primarily to the Global multi-factor strategy, which was run by Mellon. Mellon takes abottom-up approach that selects securities with the strongest combined exposures to all target factors. Investors did not reward fundamentals during the second half of the fiscal year. The portfolio struggled as investors focused on growth with little regard for fundamentals. Securities that were ranked in the top quintile (most attractive) underperformed the benchmark. The portfolio overweight to the top quintile and the selection within the top quintile were the primary drivers for portfolio under performance.
The Trust terminated its Portfolio Management Agreement with Cadence Capital Management, LLC related to this Portfolio during the second half of the fiscal year as it moved away from a selective factor model to a multi-factor model which provides broader universe exposure and diminishes isolated factor bets.
The Portfolio is diversified across multiple strategies to ensure proper portfolio diversification, with the goal of providing superior long-term returns in as stable and consistent a manner as possible.2 As a result, it is expected that some styles will be leading at times, while others are lagging and vice versa. The Portfolio expects to capitalize on this cyclicality of styles by reducing exposure to strategies and styles that realize extraordinary excess returns and allocating to strategies and styles that have been out of favor in the short-term.
The Portfolio requires that the underlying managers integrate Catholic values in their investment selections, which include a combination of negative and positive screens. Mellon uses third party data to implement the positive and negative screens in the Portfolio.
| 1 | The MSCI World Index is an unmanaged index that is designed to capture large andmid-cap representation across 23 developed markets countries. The Index covers approximately 85% of the free float-adjusted market capitalization in each of the following countries: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | During the fiscal year, Agincourt Capital Management, LLC and Parametric Portfolio Associates, LLC were also under contract to manage the Portfolio but did not have assets allocated to them. |
19
The chart represents historical performance of a hypothetical investment of $10,000 in The Catholic SRI Growth Portfolio from 1/12/16 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the MCSI World Index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Catholic SRI Growth Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.42%
HC Advisors Shares 0.67%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
20
The International Equity Portfolio
The Institutional International Equity Portfolio
(Unaudited)
The International Equity Portfolio (the “Portfolio”) managed by Artisan Partners Limited Partnership (“Artisan”), Cadence Capital Management, LLC (“Cadence”), Causeway Capital Management, LLC (“Causeway”) and Parametric Portfolio Associates, LLC (“Parametric”) returned 0.24% for the period compared to 1.60% for the MSCI EAFE Index1 and-0.85% for the average manager in the Lipper2 universe of InternationalLarge-Cap Core Funds.3
The Portfolio underperformed its benchmark and slightly outperformed its peer group. The overall portfolio lagged its benchmark due to its overweight to value style as the market favored firms which had higher earnings growth. Growth outperformed Value. The MSCI EAFE Value index was down-2.10% whereas the MSCI EAFE Growth index was up 4.24%.
The Institutional International Equity Portfolio (the “Institutional Portfolio”) managed by Artisan, Cadence, Causeway, City of London Investment Management Company, Ltd., Lazard Asset Management, LLC and Parametric returned 0.09% for the fiscal year compared to 1.60% for the MSCI EAFE Index1 and-0.85% for the average manager in the Lipper2 universe of InternationalLarge-Cap Core Funds.4
The Institutional Portfolio underperformed its benchmark and was in line with its peer group. The overall portfolio lagged its benchmark due to its overweight to value style as the market favored firms which had higher earnings growth. The MSCI EAFE Value index was down-2.10% whereas the MSCI EAFE Growth index was up 4.24%.
Both the Portfolio and Institutional Portfolio (collectively the “Portfolios”) are diversified across multiple managers and strategies to ensure proper portfolio diversification. Exposures in Germany and the United Kingdom added performance relative to the benchmark index while exposures in Japan, France, and Switzerland detracted from performance relative to the benchmark.
| 1 | The Morgan Stanley Capital International Europe, Australasia, and Far East Index (“MSCI EAFE Index”) is an unmanaged, market value weighted index designed to measure the overall condition of developed overseas equities markets. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, City of London Investment Management Company, Ltd. and Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) were also under contract to manage the Portfolio but did not have assets allocated to them. |
| 4 | During the fiscal year, Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) was also under contract to manage the Institutional Portfolio but did not have assets allocated to it. |
21
The chart represents historical performance of a hypothetical investment of $10,000 in The International Equity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the MSCI EAFE Index, which represents the performance of the major stock markets in those regions. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The International Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.43%
HC Advisors Shares 0.68%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
22
The chart represents historical performance of a hypothetical investment of $10,000 in The Institutional International Equity Portfolio from 11/20/09 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the MSCI EAFE Index, which represents the performance of the major stock markets in those regions. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Institutional International Equity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.47%
HC Advisors Shares 0.72%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
23
The Emerging Markets Portfolio
(Unaudited)
The Emerging Markets Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation), which managed both an active strategy and a passive strategy, Parametric Portfolio Associates, LLC (“Parametric”) and RBC Global Asset Management (U.K.) Ltd. (“RBC”) returned 4.11% compared to 1.61% for the MSCI EM Index1 and 1.28% for the average manager in the Lipper2 universe of Emerging Markets Funds.3
For the fiscal year 2019, the Portfolio outperformed both the benchmark, and the average manager in the industry universe. The outperformance was primarily due to the quality growth-oriented strategy run by RBC. Both allocation and selection within RBC’s portfolio was strong. The strategy had an underweight to China. China lagged its counterparts due to the U.S. & China trade war. Security selection contributed positively to overall performance. RBC had an underweight to the large Chinese technology names which underperformed.
The Portfolio provides broad access to international emerging markets equity. The Portfolio is managed with multiple managers to provide diversification of manager style as well as diversification of firm specific risks. Mellon’s passive strategy employs a quantitatively driven investment process that seeks to identify companies paying high dividends relative to the benchmark while maintaining quality balance sheets. The Portfolio diversifies amongst a large number of names and across geographies and sectors to capture its specified factor. RBC employs a fundamentally driven investment process to identify attractive quality and growing companies and then constructs a diversified portfolio of those companies in accordance with industry and individual allocation guidelines. Parametric replicates benchmark index (MSCI Emerging Markets Index) using futures. This allows the Portfolio to have cash on hand to meet redemptions and invest opportunistically.
The Trust terminated its Portfolio Management Agreement with Mellon related to active strategy for this Portfolio during the second half of the fiscal year due to both poor performance and organizational changes. The strategy produced negative alpha (primarily due to security selection) and consistently ranked in the bottom quartile of the peer universe. Mellon also deviated from the original investment thesis by investing in securities that did not have the characteristics of a typical “value” stock.
| 1 | The Morgan Stanley Capital International Emerging Markets Index (“MSCI EM Index”) is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of June 30, 2019 the MSCI EM Index consisted of the following 26 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Cadence Capital Management, LLC and City of London Investment Management Company, Ltd. were also under contract to manage the Portfolio but did not have assets allocated to them. |
24
The chart represents historical performance of a hypothetical investment of $10,000 in The Emerging Markets Portfolio from 12/10/09 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the MSCI EM Index, which represents the performance of the major stock markets in those regions. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Emerging Markets Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.68%
HC Advisors Shares 0.93%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
25
The Core Fixed Income Portfolio
(Unaudited)
The Core Fixed Income Portfolio (the “Portfolio”) managed by Agincourt Capital Management, LLC and Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) returned 8.12% for the fiscal year compared to 7.87% for the Bloomberg Barclays U.S. Aggregate Bond Index1 (“BarCap”) and 7.35% for the average fixed income manager in the Lipper2 universe of Core Bond Funds.
The Portfolio outperformed due to a strategic overweight to investment grade corporate credit – which outperformed the other sectors of the Index. The bond market participated in the market rally during the fiscal year as the Federal Reserve has communicated that it intends to hold off on further interest rate increases, pushing down long rates and concurrently pushing up prices (which move inversely to rates.) Bond yields across maturities have fallen by around 100 basis points since last October. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy. The Bloomberg Barclays U.S. Corporate Bond Index, a broad measure the U.S. bond market was up 7.87% for the year.
The Portfolio is allocated across the three major sectors of the BarCap Index: governments, credit, and asset backed securities. The government and asset backed sectors are passively managed to provide performancein-line with their respective benchmarks. Actual results may vary marginally from the underlying benchmarks because of cash flows and because for practical purposes, the portfolios hold a representative group of the securities in the benchmarks and do not seek to fully replicate all of the individual holdings. The credit portfolio has a bit more flexibility to vary from the index by avoiding credits that the manager feels have adverse price risk. The allocations across the three sectors will vary over time based upon the relative attractiveness of the sectors. In general, the Portfolio maintains aggregate characteristics – duration, weighted averageyield-to-maturity, and average credit quality comparable to the benchmark.
| 1 | The Bloomberg Barclays U.S. Aggregate Bond Index includes more than 8,000 taxable government, investment-grade corporate and mortgage backed securities. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
26
The chart represents historical performance of a hypothetical investment of $10,000 in The Core Fixed Income Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. Aggregate Bond Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Core Fixed Income Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.37%
HC Advisors Shares 0.62%1
| 1 | Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
27
The Fixed Income Opportunity Portfolio
(Unaudited)
The Fixed Income Opportunity Portfolio (the “Portfolio”), managed by City of London Investment Management Company, Ltd.1, Fort Washington Investment Advisors, Inc. (“Fort Washington”), Parametric Portfolio Associates, LLC and Western Asset Management Company, Ltd. (“WAMCO”) had a return of 8.77% which was the same as the benchmark the Bloomberg Barclays U.S. High Yield Ba/B 2% Issuer Capped Index2 and 6.53% for the average manager in the Lipper3 High Yield Funds universe.4
The Portfolio is designed to provide investors with higher returns over time than traditional fixed income investments primarily through investment in a diversified portfolio of high yield bonds. The Portfolio may also opportunistically invest in international bonds, convertible bonds, preferred stocks, treasury inflation bonds, loan participations and fixed and floating rate loans.
The bond market posted strong performance for the fiscal year as the Federal Reserve has communicated that it intends to hold off on further interest rate increases, pushing down long rates and concurrently pushing up prices (which move inversely to rates.) Bond yields across maturities have fallen by around 100 basis points since last October. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy. Fort Washington was in line with the benchmark and WAMCO outperformed primarily through security selection. The tightening of spreads in both commercial and residential real-estate backed loans contributed to performance during the fiscal year. The Portfolio’s shorter duration positioning detracted from performance during the quarter.
The Portfolio has flexibility to vary from the index by avoiding credits that the managers feel have adverse price risk.
| 1 | As of July 5, 2019, City of London Investment Management Company, Ltd. did not have assets allocated to it. |
| 2 | The Bloomberg Barclays U.S. High Yield Ba/B 2% Issuer Capped Index is a market capitalization-weighted index that measures fixed ratenon-investment grade debt securities of U.S. andnon-U.S. corporations. No single issuer accounts for more than 2% of market cap. The index is calculated on a total return basis. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 3 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 4 | During the fiscal year, Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) was also under contract to manage the Portfolio but did not have assets allocated to it. |
28
The chart represents historical performance of a hypothetical investment of $10,000 in The Fixed Income Opportunity Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. High Yield Ba/B 2% Issuer Capped Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Fixed Income Opportunity Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.50%
HC Advisors Shares 0.75%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
29
The U.S. Government Fixed Income Securities Portfolio
(Unaudited)
The U.S. Government Fixed Income Securities Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) returned 6.87% compared to 7.21% for the Bloomberg Barclays U.S. Government Bond Index1 and 6.54% for the average fixed income manager in the Lipper2 universe of General U.S. Government Funds.
The bond market posted strong performance for the fiscal year as the Federal Reserve communicated that it intends to hold off on further interest rate increases, pushing down long rates and concurrently pushing up prices (which move inversely to rates.) Bond yields across maturities have fallen by around 100 basis points since last October. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy.
The Portfolio is structured to perform similarly to the benchmark. As such it uses a sampling methodology to select a subset of the index universe that maintains aggregate characteristics – duration, weighted averageyield-to-maturity, and average credit quality in line with the benchmark. Since the Portfolio owns a subset of securities of the Index, there will necessarily be some tracking error.
| 1 | The Bloomberg Barclays U.S. Government Bond Index is a broad-based unmanaged index that represents the general performance of U.S. Treasury and U.S. Government Agency debt securities. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
30
The chart represents historical performance of a hypothetical investment of $10,000 in The U.S. Government Fixed Income Securities Portfolio from 12/6/10 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. Government Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The U.S. Government Fixed Income Securities Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.19%
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
31
The Inflation Protected Securities Portfolio
(Unaudited)
The Inflation Protected Securities Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) returned 4.59% compared to 4.84% for the Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index1 and 3.87% for the average fixed income manager in the Lipper2 universe of Inflation Protected Bond Funds.
Broad U.S. Fixed Income markets rallied during the fiscal year as the Federal Reserve communicated that it intends to hold off on further interest rate increases. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy. Inflation protected securities underperformed comparable treasury securities as the treasury bonds repriced for lower expected inflation.
The Portfolio is currently structured to perform similarly to the benchmark. As such, it utilizes a full replication approach to duplicate the fundamental characteristics and performance of the Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index. The Portfolio may slightly outperform or underperform the benchmark from time to time due to several factors such as; fund inflows/outflows, cash held for tactical purposes, different rebalancing frequency and fees.
| 1 | The Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index is an unmanaged index generally consisting of all inflation-protection securities issued by the U.S. Treasury. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
32
The chart represents historical performance of a hypothetical investment of $10,000 in The U.S. Inflation Protected Securities Portfolio from 4/3/14 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Inflation Protected Securities Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.16%
HC Advisors Shares 0.41%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
33
The U.S. Corporate Fixed Income Securities Portfolio
(Unaudited)
The U.S. Corporate Fixed Income Securities Portfolio (the “Portfolio”) managed by Agincourt Capital Management, LLC (“Agincourt”) returned 11.07% compared to 10.72% for the Bloomberg Barclays U.S. Corporate Index1 and 9.43% for the average fixed income manager in the Lipper2 universe of Corporate Debt FundsBBB-Rated Funds.3
The bond market posted strong performance for the fiscal year as the Federal Reserve communicated that it intends to hold off on further interest rate increases. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy.
Agincourt outperformed the benchmark due to both sector allocation and security selection. The Portfolio benefited from being overweight to communication services and underweight utilities.
| 1 | The Bloomberg Barclays U.S. Corporate Index covers USD denominated, investment-grade, fixed-rate, taxable securities sold by industrial, utility and financial issuers. It includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity and quality requirements. Securities in the index roll up to the U.S. Credit and U.S. Aggregate indices. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) was also under contract to manage the Portfolio but did not have assets allocated to it. |
34
The chart represents historical performance of a hypothetical investment of $10,000 in The U.S. Corporate Fixed Income Securities Portfolio from 12/6/10 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. Corporate Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The U.S. Corporate Fixed Income Securities Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.23%
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
35
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
(Unaudited)
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) returned 5.70% compared to 6.37% for the Bloomberg Barclays U.S. Securitized Index1 and 6.01% for the average fixed income manager in the Lipper2 universe of U.S. Mortgage Funds.
The bond market posted strong performance for the fiscal year as the Federal Reserve communicated that it intends to hold off on further interest rate increases. The decline in global bond yields over the past 6 months is consistent with weaker than expected inflation data, slower growth and a shifting central banking policy.
The Portfolio is structured to simulate the performance of the benchmark. As such the Portfolio maintains aggregate characteristics – duration, weighted averageyield-to-maturity, and average credit quality in line with the benchmark. Since the Portfolio holds a subset of the securities represented in the benchmark, it is expected to generate a small amount of tracking error.
| 1 | The Bloomberg Barclays U.S. Securitized Index is an unmanaged index that tracks the performance of mortgage-backed pass through securities issued by Ginnie Mae, Fannie Mae and Freddie Mac, investment-grade bonds and asset-backed securities. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
36
The chart represents historical performance of a hypothetical investment of $10,000 in The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio from 12/6/10 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays U.S. Securitized Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The U.S. Mortgage/Asset Backed Fixed Income Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.26%
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
37
The Short-Term Municipal Bond Portfolio
(Unaudited)
The Short-Term Municipal Bond Portfolio managed by Breckinridge Capital Advisors, Inc. (“Breckinridge”) returned 2.88% for the fiscal year compared to 2.77% for the ICE BofA Merrill Lynch1-3 Year Municipal Index1 and 2.56% for the average manager in the Lipper2 universe of Short Municipal Debt Funds.
Municipal bond returns marked the strongest start to a year for municipals since 2014 as the Federal Reserve communicated that it intends to hold off on further interest rate increases. Breckinridge’s longer duration resulted in the strategy outperforming the benchmark and the peer universe for the fiscal year 2019.
| 1 | The ICE BofA Merrill Lynch1-3 Year Municipal Index is an unmanaged, equal-weighted index that tracks the total return performance of the domestic U.S. municipal market. The index consists of investment grade, publicly traded, fixed-rate and coupon bearing municipal securities with a maturity of one to three years. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that organization compiles performance on mutual funds and further categorizes them by investment objective. |
38
The chart represents historical performance of a hypothetical investment of $10,000 in The Short-Term Municipal Bond Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the ICE BofA Merrill Lynch1-3 Year Muni Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Short-Term Municipal Bond Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.35%
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
39
The Intermediate Term Municipal Bond Portfolio
(Unaudited)
The Intermediate Term Municipal Bond Portfolio (the “Portfolio”) managed by Mellon Investments Corporation (“Mellon”) (formerly BNY Mellon Asset Management North America Corporation) and City of London Investment Management Company, Ltd. (“City of London”), returned 5.45% for the fiscal year compared to 6.50% for the Bloomberg Barclays3-15 Year Blend Municipal Index1 and 5.65% for average manager in the Lipper2 Intermediate Municipal Debt Funds universe.
The Mellon strategy underperformed the benchmark during the twelve-month reporting period. An overweight to revenue bonds compared to general obligation bonds, a slight overweight to higher rated issues and yield curve positioning towards the shorter end of the curve were detractors contributing to the underperformance during the fiscal year. During the third quarter of the fiscal year, a new municipal closed end fund strategy was launched within the Portfolio. Implemented through City of London, the strategy provides exposure to investment grade municipal bond closed end funds that trade at high discounts to net asset value relative to history.
| 1 | The Bloomberg Barclays3-15 Year Blend Municipal Index is an index of government bonds. This index is unmanaged, thus the index results do not reflect the impact of expenses associated with any investment in securities, such as brokerage commission or other transaction costs. Benchmark performance is shown for comparison purposes only, as it is not possible to invest directly in a securities index. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
40
The chart represents historical performance of a hypothetical investment of $10,000 in The Intermediate Term Municipal Bond Portfolio for the10-year period ended 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays3-15 Year Blend Muni Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Intermediate Term Municipal Bond Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.35%
HC Advisors Shares 0.60%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
41
The Intermediate Term Municipal Bond II Portfolio
(Unaudited)
The Intermediate Term Municipal Bond II Portfolio managed by Breckinridge Capital Advisors, Inc. (“Breckinridge”) returned 5.26% compared to 5.29% for the Bloomberg Barclays5-Year General Obligation Municipal Index1 and 5.65% for average manager in the Lipper2 Intermediate Municipal Debt Funds universe.3
The Breckinridge strategy was in line with the benchmark and the peer universe. The Portfolio’s higher quality bias modestly detracted which was offset by a modest contribution from security selection. Breckinridge maintains a diversified portfolio structure invested only in high-grade, intermediate-term municipal bonds.
| 1 | The Bloomberg Barclays5-Year General Obligation Municipal Index is an unmanaged index generally representative of investment grade fixed rate debt obligations issued by state and local government entities, with maturities of no more than six years. |
| 2 | Lipper, Inc. is an independent statistical monitoring organization that compiles performance on mutual funds and further categorizes them by investment objective. |
| 3 | During the fiscal year, City of London Investment Management Company, Ltd. was also under contract to manage the Portfolio but did not have assets allocated to it. |
42
The chart represents historical performance of a hypothetical investment of $10,000 in The Intermediate Term Municipal Bond II Portfolio from 7/13/10 to 6/30/19, and represents the reinvestment of dividends and capital gains in the Portfolio.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please call(800) 242-9596.
The Portfolio’s performance above is compared to the Bloomberg Barclays5-Year General Obligation Muni Index. The index is unmanaged and does not reflect the deduction of fees associated with a mutual fund, such as investment management and fund accounting fees, or the deduction of taxes. An investor cannot invest directly in an index. The performance of The Intermediate Term Municipal Bond II Portfolio reflects the deduction of fees for these value-added services, but does not reflect the deduction of taxes that a shareholder would pay on the Portfolio’s distributions or redemptions of the Portfolio’s shares.
Expense Ratio
HC Strategic Shares 0.34%
HC Advisors Shares 0.59%1
| 1 | HC Advisors Shares include Distribution Plan fees of 0.25% which are voluntarily waived by the Adviser. Such waiver is not reflected in the expense ratio shown. |
This information is included in the most current prospectus available to current and prospective shareholders of the Portfolio. Additional information pertaining to the June 30, 2019, expense ratios can be found in the financial highlights.
43
Conclusion
The performance of the Portfolios for the fiscal year was consistent with our expectations. For the U.S. equity market, our current judgment is that the risk/reward relationship is roughly balanced compared to history. Our decision to overweight companies with higher quality and/or dividend yield characteristics reflects this relatively conservative posture.
We continue to seek to broaden the opportunity set of investment portfolios available to our clients for fulfilling their asset allocation and investment policy objectives. We also continue to maintain a comprehensive dual-track, investment management and compliance review and due diligence processes to identify, select, implement, monitor and manage the investment managers and investment strategies we employ within each Portfolio.
Finally, we are constantly seeking ways to improve our management of each Portfolio. To that end, over the period we continued to adjust our custom defined investment style portfolio strategies to express the most attractive return opportunities. We continue to explore new strategies that exploit more differentiated opportunities among factor-based investment styles.
As ever, we appreciate your continued trust and confidence.
HC Capital Solutions
44
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 96.66% | |
| |
| | | | Aerospace & Defense — 2.27% | |
| | |
| | 717 | | | General Dynamics Corp. | | $ | 130 | |
| | |
| | 515 | | | Harris Corp. | | | 97 | |
| | |
| | 3,065 | | | HEICO Corp. | | | 410 | |
| | |
| | 1,168 | | | Hexcel Corp. | | | 94 | |
| | |
| | 445 | | | Huntington Ingalls Industries, Inc. | | | 100 | |
| | |
| | 438 | | | L3 Technologies, Inc. | | | 107 | |
| | |
| | 5,411 | | | Lockheed Martin Corp. | | | 1,967 | |
| | |
| | 999 | | | Raytheon Co. | | | 174 | |
| | |
| | 19,597 | | | Spirit Aerosystems Holdings, Inc., Class – A | | | 1,595 | |
| | |
| | 200 | | | Teledyne Technologies, Inc. (a) | | | 55 | |
| | |
| | 4,149 | | | Textron, Inc. | | | 220 | |
| | |
| | 8,510 | | | The Boeing Co. | | | 3,098 | |
| | |
| | 5,010 | | | TransDigm Group, Inc. (a) | | | 2,424 | |
| | |
| | 21,311 | | | United Technologies Corp. | | | 2,775 | |
| | | | | | | | |
| | | | | | | 13,246 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.48% | |
| | |
| | 10,904 | | | C.H. Robinson Worldwide, Inc. | | | 920 | |
| | |
| | 305 | | | Expeditors International of Washington, Inc. | | | 23 | |
| | |
| | 16,845 | | | United Parcel Service, Inc., Class – B | | | 1,740 | |
| | |
| | 1,886 | | | XPO Logistics, Inc. (a) | | | 109 | |
| | | | | | | | |
| | | | | | | 2,792 | |
| | | | | | | | |
| |
| | | | Airlines — 0.29% | |
| | |
| | 868 | | | Copa Holdings SA, Class – A | | | 85 | |
| | |
| | 20,199 | | | Delta Air Lines, Inc. | | | 1,147 | |
| | |
| | 6,703 | | | Southwest Airlines Co. | | | 340 | |
| | |
| | 1,556 | | | United Continental Holdings, Inc. (a) | | | 136 | |
| | | | | | | | |
| | | | | | | 1,708 | |
| | | | | | | | |
| |
| | | | Auto Components — 0.71% | |
| | |
| | 120,720 | | | Garrett Motion, Inc. (a) | | | 1,853 | |
| | |
| | 585 | | | Gentex Corp. | | | 14 | |
| | |
| | 4,785 | | | Goodyear Tire & Rubber Co. | | | 73 | |
| | |
| | 12,566 | | | Lear Corp. | | | 1,751 | |
| | |
| | 9,332 | | | Magna International, Inc., ADR | | | 464 | |
| | | | | | | | |
| | | | | | | 4,155 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.21% | |
| | |
| | 32,030 | | | General Motors Co. | | | 1,234 | |
| | | | | | | | |
| |
| | | | Banks — 5.44% | |
| | |
| | 3,332 | | | Associated Banc-Corp. | | | 70 | |
| | |
| | 279,806 | | | Bank of America Corp. | | | 8,115 | |
| | |
| | 2,798 | | | Bank OZK | | | 84 | |
| | |
| | 1,998 | | | BankUnited, Inc. | | | 67 | |
| | |
| | 32,258 | | | BB&T Corp. | | | 1,585 | |
| | |
| | 666 | | | BOK Financial Corp. | | | 50 | |
| | |
| | 47,685 | | | Citigroup, Inc. | | | 3,340 | |
| | |
| | 1,826 | | | Citizens Financial Group, Inc. | | | 65 | |
| | |
| | 20,776 | | | Comerica, Inc. | | | 1,509 | |
| | |
| | 541 | | | Commerce Bancshares, Inc. | | | 32 | |
| | |
| | 1,552 | | | Cullen/Frost Bankers, Inc. | | | 145 | |
| | |
| | 182 | | | Fifth Third Bancorp | | | 5 | |
| | |
| | 7,338 | | | First Horizon National Corp. | | | 110 | |
| | |
| | 2,026 | | | First Republic Bank | | | 198 | |
| | |
| | 21,453 | | | Huntington Bancshares, Inc. | | | 296 | |
| | |
| | 66,542 | | | JPMorgan Chase & Co. | | | 7,440 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Banks (continued) | |
| | |
| | 2,807 | | | M&T Bank Corp. | | $ | 477 | |
| | |
| | 3,005 | | | PacWest Bancorp | | | 117 | |
| | |
| | 8,163 | | | People’s United Financial, Inc. | | | 137 | |
| | |
| | 11,647 | | | Pinnacle Financial Partners, Inc. | | | 669 | |
| | |
| | 8,315 | | | PNC Financial Services Group, Inc. | | | 1,141 | |
| | |
| | 72,977 | | | Regions Financial Corp. | | | 1,090 | |
| | |
| | 493 | | | Signature Bank | | | 60 | |
| | |
| | 4,790 | | | Sterling Bancorp/DE | | | 102 | |
| | |
| | 9,138 | | | SunTrust Banks, Inc. | | | 574 | |
| | |
| | 710 | | | SVB Financial Group (a) | | | 159 | |
| | |
| | 1,926 | | | Texas Capital Bancshares, Inc. (a) | | | 118 | |
| | |
| | 4,006 | | | U.S. Bancorp | | | 210 | |
| | |
| | 4,533 | | | Umpqua Holdings Corp. | | | 75 | |
| | |
| | 1,880 | | | Webster Financial Corp. | | | 90 | |
| | |
| | 43,019 | | | Wells Fargo & Co. | | | 2,036 | |
| | |
| | 32,863 | | | Western Alliance Bancorp (a) | | | 1,470 | |
| | |
| | 2,420 | | | Zions Bancorp | | | 111 | |
| | | | | | | | |
| | | | | | | 31,747 | |
| | | | | | | | |
| |
| | | | Beverages — 1.64% | |
| | |
| | 7,189 | | | Brown-Forman Corp., Class – B | | | 398 | |
| | |
| | 684 | | | Constellation Brands, Inc., Class – A | | | 135 | |
| | |
| | 1,703 | | | Keurig Dr Pepper, Inc. | | | 49 | |
| | |
| | 4,737 | | | Molson Coors Brewing Co., Class – B | | | 265 | |
| | |
| | 2,815 | | | Monster Beverage Corp. (a) | | | 180 | |
| | |
| | 28,839 | | | PepsiCo, Inc. | | | 3,782 | |
| | |
| | 93,372 | | | The Coca-Cola Co. | | | 4,755 | |
| | | | | | | | |
| | | | | | | 9,564 | |
| | | | | | | | |
| |
| | | | Biotechnology — 2.61% | |
| | |
| | 30,507 | | | AbbVie, Inc. | | | 2,218 | |
| | |
| | 6,002 | | | Alexion Pharmaceuticals, Inc. (a) | | | 786 | |
| | |
| | 2,182 | | | Alnylam Pharmaceuticals, Inc. (a) | | | 158 | |
| | |
| | 16,160 | | | Amgen, Inc. | | | 2,978 | |
| | |
| | 15,110 | | | Celgene Corp. (a) | | | 1,397 | |
| | |
| | 68,921 | | | Exelixis, Inc. (a) | | | 1,473 | |
| | |
| | 27,136 | | | Gilead Sciences, Inc. | | | 1,833 | |
| | |
| | 56 | | | Incyte Corp. (a) | | | 5 | |
| | |
| | 8,247 | | | Seattle Genetics, Inc. (a) | | | 571 | |
| | |
| | 17,938 | | | United Therapeutics Corp. (a) | | | 1,400 | |
| | |
| | 13,207 | | | Vertex Pharmaceuticals, Inc. (a) | | | 2,422 | |
| | | | | | | | |
| | | | | | | 15,241 | |
| | | | | | | | |
| |
| | | | Building Products — 0.26% | |
| | |
| | 18,210 | | | A.O. Smith Corp. | | | 859 | |
| | |
| | 1,055 | | | Allegion PLC | | | 117 | |
| | |
| | 124 | | | Johnson Controls International PLC | | | 5 | |
| | |
| | 270 | | | Lennox International, Inc. | | | 74 | |
| | |
| | 6,549 | | | Masco Corp. | | | 257 | |
| | |
| | 2,346 | | | Owens Corning, Inc. | | | 137 | |
| | |
| | 2,531 | | | Resideo Technologies, Inc. (a) | | | 55 | |
| | | | | | | | |
| | | | | | | 1,504 | |
| | | | | | | | |
| |
| | | | Capital Markets — 1.45% | |
| | |
| | 2,506 | | | Ameriprise Financial, Inc. | | | 364 | |
| | |
| | 5,895 | | | BGC Partners, Inc., Class – A | | | 31 | |
| | |
| | 4,869 | | | BlackRock, Inc., Class – A | | | 2,285 | |
| | |
| | 2,282 | | | CBOE Holdings, Inc. | | | 236 | |
See accompanying notes to financial statements.
45
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Capital Markets (continued) | |
| | |
| | 1,695 | | | CME Group, Inc. | | $ | 329 | |
| | |
| | 1,544 | | | E*Trade Financial Corp. | | | 69 | |
| | |
| | 5,797 | | | Franklin Resources, Inc. | | | 202 | |
| | |
| | 12,428 | | | Goldman Sachs Group, Inc. | | | 2,543 | |
| | |
| | 427 | | | Interactive Brokers Group, Inc., Class – A | | | 23 | |
| | |
| | 1,491 | | | Intercontinental Exchange Group, Inc. | | | 128 | |
| | |
| | 8,965 | | | Invesco Ltd. | | | 183 | |
| | |
| | 3,371 | | | Janus Henderson Group PLC | | | 72 | |
| | |
| | 1,976 | | | Legg Mason, Inc. | | | 76 | |
| | |
| | 18,759 | | | Morgan Stanley | | | 822 | |
| | |
| | 593 | | | S&P Global, Inc. | | | 135 | |
| | |
| | 7,780 | | | T. Rowe Price Group, Inc. | | | 854 | |
| | |
| | 162 | | | TD Ameritrade Holding Corp. | | | 8 | |
| | |
| | 1,325 | | | The Charles Schwab Corp. | | | 53 | |
| | |
| | 629 | | | The Nasdaq OMX Group, Inc. | | | 60 | |
| | | | | | | | |
| | | | | | | 8,473 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.83% | |
| | |
| | 10,230 | | | Air Products & Chemicals, Inc. | | | 2,317 | |
| | |
| | 2,166 | | | Albemarle Corp. | | | 153 | |
| | |
| | 349 | | | Ashland Global Holdings, Inc. | | | 28 | |
| | |
| | 4,710 | | | Axalta Coating Systems Ltd. (a) | | | 140 | |
| | |
| | 1,640 | | | Celanese Corp., Series A | | | 177 | |
| | |
| | 48,414 | | | CF Industries Holdings, Inc. | | | 2,261 | |
| | |
| | 9,318 | | | Corteva, Inc. | | | 276 | |
| | |
| | 9,317 | | | Dow, Inc. | | | 459 | |
| | |
| | 9,317 | | | DuPont de Nemours, Inc. | | | 699 | |
| | |
| | 10,558 | | | Eastman Chemical Co. | | | 822 | |
| | |
| | 2,375 | | | Huntsman Corp. | | | 49 | |
| | |
| | 3,028 | | | International Flavors & Fragrances, Inc. | | | 439 | |
| | |
| | 675 | | | Linde PLC | | | 136 | |
| | |
| | 11,335 | | | LyondellBasell Industries N.V., Class – A | | | 976 | |
| | |
| | 3,386 | | | Olin Corp. | | | 74 | |
| | |
| | 10,412 | | | PPG Industries, Inc. | | | 1,215 | |
| | |
| | 3,364 | | | The Chemours Co. | | | 81 | |
| | |
| | 1,538 | | | The Scotts Miracle-Gro Co. | | | 151 | |
| | |
| | 3,879 | | | Valvoline, Inc. | | | 76 | |
| | |
| | 1,540 | | | W.R. Grace & Co. | | | 117 | |
| | |
| | 726 | | | Westlake Chemical Corp. | | | 50 | |
| | | | | | | | |
| | | | | | | 10,696 | |
| | | | | | | | |
| |
| | | | Commercial Services & Supplies — 0.88% | |
| | |
| | 12,305 | | | Clean Harbors, Inc. (a) | | | 875 | |
| | |
| | 32,475 | | | Copart, Inc. (a) | | | 2,427 | |
| | |
| | 3,003 | | | IAA, Inc. (a) | | | 116 | |
| | |
| | 3,003 | | | KAR Auction Services, Inc. | | | 75 | |
| | |
| | 4,420 | | | Republic Services, Inc., Class – A | | | 383 | |
| | |
| | 2,747 | | | Stericycle, Inc. (a) | | | 131 | |
| | |
| | 9,860 | | | Waste Management, Inc. | | | 1,138 | |
| | | | | | | | |
| | | | | | | 5,145 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 1.61% | |
| | |
| | 6,905 | | | Arista Networks, Inc. (a) | | | 1,793 | |
| | |
| | 132,263 | | | Cisco Systems, Inc. | | | 7,238 | |
| | |
| | 8,966 | | | Juniper Networks, Inc. | | | 239 | |
| | |
| | 774 | | | Motorola Solutions, Inc. | | | 129 | |
| | | | | | | | |
| | | | | | | 9,399 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Construction & Engineering — 0.07% | |
| | |
| | 3,578 | | | AECOM Technology Corp. (a) | | $ | 134 | |
| | |
| | 841 | | | Arcosa, Inc. | | | 32 | |
| | |
| | 717 | | | Jacobs Engineering Group, Inc. | | | 61 | |
| | |
| | 2,295 | | | Quanta Services, Inc. | | | 88 | |
| | |
| | 924 | | | Valmont Industries, Inc. | | | 117 | |
| | | | | | | | |
| | | | | | | 432 | |
| | | | | | | | |
| |
| | | | Construction Materials — 0.16% | |
| | |
| | 6,799 | | | Eagle Materials, Inc., Class – A | | | 630 | |
| | |
| | 1,351 | | | Martin Marietta Materials, Inc. | | | 311 | |
| | | | | | | | |
| | | | | | | 941 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 1.21% | |
| | |
| | 22,738 | | | American Express Co. | | | 2,807 | |
| | |
| | 39,194 | | | Capital One Financial Corp. | | | 3,556 | |
| | |
| | 6 | | | Credit Acceptance Corp. (a) | | | 3 | |
| | |
| | 14,450 | | | OneMain Holdings, Inc. | | | 489 | |
| | |
| | 8,889 | | | SLM Corp. | | | 86 | |
| | |
| | 4,013 | | | Synchrony Financial | | | 139 | |
| | | | | | | | |
| | | | | | | 7,080 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.55% | |
| | |
| | 17,549 | | | Amcor PLC (a) | | | 202 | |
| | |
| | 262 | | | AptarGroup, Inc. | | | 33 | |
| | |
| | 27 | | | Avery Dennison Corp. | | | 3 | |
| | |
| | 22,939 | | | Ball Corp. | | | 1,605 | |
| | |
| | 1,486 | | | Berry Plastics Group, Inc. (a) | | | 78 | |
| | |
| | 10,608 | | | International Paper Co. | | | 460 | |
| | |
| | 3,186 | | | Owens-Illinois, Inc. | | | 55 | |
| | |
| | 2,050 | | | Packaging Corporation of America | | | 195 | |
| | |
| | 3,363 | | | Sealed Air Corp. | | | 144 | |
| | |
| | 2,320 | | | Silgan Holdings | | | 71 | |
| | |
| | 2,452 | | | Sonoco Products Co. | | | 160 | |
| | |
| | 5,240 | | | WestRock Co. | | | 191 | |
| | | | | | | | |
| | | | | | | 3,197 | |
| | | | | | | | |
| |
| | | | Distributors — 0.08% | |
| | |
| | 4,284 | | | Genuine Parts Co. | | | 444 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 0.49% | |
| | |
| | 12,786 | | | Bright Horizons Family Solutions, Inc. (a) | | | 1,929 | |
| | |
| | 1,046 | | | Graham Holdings Co. | | | 722 | |
| | |
| | 4,910 | | | H&R Block, Inc. | | | 144 | |
| | |
| | 957 | | | ServiceMaster Global Holdings, Inc. (a) | | | 50 | |
| | | | | | | | |
| | | | | | | 2,845 | |
| | | | | | | | |
| |
| | | | Diversified Financial Services — 1.10% | |
| | |
| | 28,340 | | | Berkshire Hathaway, Inc., Class – B (a) | | | 6,041 | |
| | |
| | 17,093 | | | Jefferies Financial Group, Inc. | | | 329 | |
| | |
| | 973 | | | Voya Financial, Inc. | | | 54 | |
| | | | | | | | |
| | | | | | | 6,424 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 1.74% | |
| | |
| | 117,437 | | | AT&T, Inc. | | | 3,935 | |
| | |
| | 43,613 | | | CenturyLink, Inc. | | | 513 | |
| | |
| | 100,420 | | | Verizon Communications, Inc. | | | 5,737 | |
| | | | | | | | |
| | | | | | | 10,185 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 1.97% | |
| | |
| | 1,604 | | | Alliant Energy Corp. | | | 79 | |
| | |
| | 31,281 | | | American Electric Power, Inc. | | | 2,752 | |
| | |
| | 20,974 | | | Duke Energy Corp. | | | 1,851 | |
See accompanying notes to financial statements.
46
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Electric Utilities (continued) | |
| | |
| | 1,914 | | | Edison International | | $ | 129 | |
| | |
| | 2,737 | | | Evergy, Inc. | | | 165 | |
| | |
| | 9,746 | | | Eversource Energy | | | 738 | |
| | |
| | 9,276 | | | Exelon Corp. | | | 445 | |
| | |
| | 2,818 | | | FirstEnergy Corp. | | | 121 | |
| | |
| | 8,870 | | | NextEra Energy, Inc. | | | 1,817 | |
| | |
| | 2,414 | | | OGE Energy Corp. | | | 103 | |
| | |
| | 10,916 | | | PG&E Corp. (a) | | | 250 | |
| | |
| | 32,518 | | | PPL Corp. | | | 1,008 | |
| | |
| | 32,159 | | | The Southern Co. | | | 1,778 | |
| | |
| | 4,017 | | | Xcel Energy, Inc. | | | 239 | |
| | | | | | | | |
| | | | | | | 11,475 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.52% | |
| | |
| | 3,350 | | | AMETEK, Inc. | | | 304 | |
| | |
| | 12,355 | | | Eaton Corp. PLC | | | 1,029 | |
| | |
| | 16,658 | | | Emerson Electric Co. | | | 1,111 | |
| | |
| | 11,151 | | | nVent Electric PLC | | | 276 | |
| | |
| | 3,984 | | | Regal-Beloit Corp. | | | 326 | |
| | | | | | | | |
| | | | | | | 3,046 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 0.17% | |
| | |
| | 769 | | | Arrow Electronics, Inc. (a) | | | 55 | |
| | |
| | 23,513 | | | Corning, Inc. | | | 782 | |
| | |
| | 512 | | | Dolby Laboratories, Inc., Class – A | | | 33 | |
| | |
| | 1,050 | | | Keysight Technologies, Inc. (a) | | | 94 | |
| | | | | | | | |
| | | | | | | 964 | |
| | | | | | | | |
| |
| | | | Energy Equipment & Services — 0.53% | |
| | |
| | 3,487 | | | Apergy Corp. (a) | | | 117 | |
| | |
| | 11,250 | | | Baker Hughes, Inc. | | | 277 | |
| | |
| | 2,294 | | | Helmerich & Payne, Inc. | | | 116 | |
| | |
| | 64,974 | | | Schlumberger Ltd. | | | 2,582 | |
| | | | | | | | |
| | | | | | | 3,092 | |
| | | | | | | | |
| |
| | | | Entertainment — 1.49% | |
| | |
| | 109 | | | Activision Blizzard, Inc. | | | 5 | |
| | |
| | 2,578 | | | Cinemark Holdings, Inc. | | | 93 | |
| | |
| | 6,384 | | | Electronic Arts, Inc. (a) | | | 646 | |
| | |
| | 3,193 | | | Lions Gate Entertainment Corp., Class – B | | | 37 | |
| | |
| | 4,986 | | | Netflix, Inc. (a) | | | 1,831 | |
| | |
| | 33 | | | Spotify Technology SA (a) | | | 5 | |
| | |
| | 92 | | | The Madison Square Garden Co., Class – A (a) | | | 26 | |
| | |
| | 41,888 | | | The Walt Disney Co. | | | 5,850 | |
| | |
| | 7,527 | | | Viacom, Inc., Class – B | | | 225 | |
| | | | | | | | |
| | | | | | | 8,718 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 3.58% | |
| | |
| | 992 | | | Alexandria Real Estate Equities, Inc. | | | 140 | |
| | |
| | 17,907 | | | American Campus Communities, Inc. | | | 827 | |
| | |
| | 1,289 | | | American Homes 4 Rent, Class – A | | | 31 | |
| | |
| | 5,297 | | | American Tower Corp. | | | 1,083 | |
| | |
| | 2,612 | | | Apartment Investment & Management Co. | | | 131 | |
| | |
| | 6,634 | | | AvalonBay Communities, Inc. | | | 1,348 | |
| | |
| | 857 | | | Boston Properties, Inc. | | | 111 | |
| | |
| | 6,970 | | | Camden Property Trust | | | 728 | |
| | |
| | 9,835 | | | Colony Capital, Inc. | | | 49 | |
| | |
| | 1,428 | | | Columbia Property Trust, Inc. | | | 30 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 2,473 | | | Crown Castle International Corp. | | $ | 322 | |
| | |
| | 2,592 | | | CubeSmart | | | 87 | |
| | |
| | 1,028 | | | CyrusOne, Inc. | | | 59 | |
| | |
| | 1,798 | | | Digital Realty Trust, Inc. | | | 212 | |
| | |
| | 1,889 | | | Douglas Emmett, Inc. | | | 75 | |
| | |
| | 3,821 | | | Duke Realty Corp. | | | 121 | |
| | |
| | 10,057 | | | EPR Properties | | | 750 | |
| | |
| | 282 | | | Equinix, Inc. | | | 142 | |
| | |
| | 1,061 | | | Equity Lifestyle Properties, Inc. | | | 129 | |
| | |
| | 1,516 | | | Equity Residential | | | 115 | |
| | |
| | 3,943 | | | Essex Property Trust, Inc. | | | 1,151 | |
| | |
| | 1,604 | | | Extra Space Storage, Inc. | | | 170 | |
| | |
| | 6,599 | | | Federal Realty Investment Trust | | | 850 | |
| | |
| | 3,157 | | | Gaming & Leisure Properties, Inc. | | | 123 | |
| | |
| | 3,643 | | | HCP, Inc. | | | 117 | |
| | |
| | 28,861 | | | Healthcare Trust of America, Inc., Class – A | | | 792 | |
| | |
| | 811 | | | Hospitality Properties Trust | | | 20 | |
| | |
| | 1,488 | | | Iron Mountain, Inc. | | | 47 | |
| | |
| | 1,138 | | | JBG SMITH Properties | | | 45 | |
| | |
| | 1,552 | | | Kilroy Realty Corp. | | | 115 | |
| | |
| | 5,335 | | | Kimco Realty Corp. | | | 99 | |
| | |
| | 846 | | | Lamar Advertising Co., Class – A | | | 68 | |
| | |
| | 2,212 | | | Liberty Property Trust | | | 111 | |
| | |
| | 661 | | | Life Storage, Inc. | | | 63 | |
| | |
| | 6,040 | | | Medical Properties Trust, Inc. | | | 105 | |
| | |
| | 1,065 | | | Mid-America Apartment Communities, Inc. | | | 125 | |
| | |
| | 2,155 | | | National Retail Properties, Inc. | | | 114 | |
| | |
| | 2,890 | | | OMEGA Healthcare Investors, Inc. | | | 106 | |
| | |
| | 2,375 | | | Outfront Media, Inc. | | | 61 | |
| | |
| | 2,244 | | | Parks Hotels & Resorts, Inc. | | | 62 | |
| | |
| | 9,049 | | | Prologis, Inc. | | | 725 | |
| | |
| | 1,410 | | | Public Storage | | | 336 | |
| | |
| | 19,572 | | | Realty Income Corp. | | | 1,350 | |
| | |
| | 13,636 | | | Regency Centers Corp. | | | 910 | |
| | |
| | 2,503 | | | Retail Properties of America, Inc., Class – A | | | 29 | |
| | |
| | 3,418 | | | Simon Property Group, Inc. | | | 546 | |
| | |
| | 3,191 | | | Store Capital Corp. | | | 106 | |
| | |
| | 1,367 | | | Sun Communities, Inc. | | | 175 | |
| | |
| | 1,202 | | | Taubman Centers, Inc. | | | 49 | |
| | |
| | 2,907 | | | The Macerich Co. | | | 97 | |
| | |
| | 21,341 | | | UDR, Inc. | | | 958 | |
| | |
| | 6,674 | | | Ventas, Inc. | | | 456 | |
| | |
| | 11,566 | | | Vornado Realty Trust | | | 741 | |
| | |
| | 20,258 | | | Welltower, Inc. | | | 1,652 | |
| | |
| | 69,480 | | | Weyerhaeuser Co. | | | 1,829 | |
| | |
| | 1,573 | | | WP Carey, Inc. | | | 128 | |
| | | | | | | | |
| | | | | | | 20,921 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 1.22% | |
| | |
| | 3,254 | | | Casey’s General Stores, Inc. | | | 508 | |
| | |
| | 18 | | | Costco Wholesale Corp. | | | 5 | |
| | |
| | 9,412 | | | Sysco Corp. | | | 666 | |
| | |
| | 1,201 | | | US Foods Holding Corp. (a) | | | 43 | |
| | |
| | 53,488 | | | Wal-Mart Stores, Inc. | | | 5,909 | |
| | | | | | | | |
| | | | | | | 7,131 | |
| | | | | | | | |
See accompanying notes to financial statements.
47
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Food Products — 0.92% | |
| | |
| | 13,976 | | | Archer-Daniels-Midland Co. | | $ | 570 | |
| | |
| | 2,834 | | | Bunge Ltd. | | | 158 | |
| | |
| | 3,445 | | | Campbell Soup Co. | | | 138 | |
| | |
| | 16,807 | | | ConAgra Foods, Inc. | | | 446 | |
| | |
| | 5,689 | | | Flowers Foods, Inc. | | | 132 | |
| | |
| | 12,760 | | | General Mills, Inc. | | | 670 | |
| | |
| | 1,964 | | | Hershey Co. | | | 263 | |
| | |
| | 2,450 | | | Hormel Foods Corp. | | | 99 | |
| | |
| | 10,293 | | | Kellogg Co. | | | 551 | |
| | |
| | 3,010 | | | Lamb Weston Holding, Inc. | | | 191 | |
| | |
| | 6,262 | | | Mondelez International, Inc., Class – A | | | 338 | |
| | |
| | 6,350 | | | The Hain Celestial Group, Inc. (a) | | | 139 | |
| | |
| | 13,557 | | | The Kraft Heinz Co. | | | 421 | |
| | |
| | 13,702 | | | TreeHouse Foods, Inc. (a) | | | 742 | |
| | |
| | 6,256 | | | Tyson Foods, Inc., Class – A | | | 505 | |
| | | | | | | | |
| | | | | | | 5,363 | |
| | | | | | | | |
| |
| | | | Gas Utilities — 0.02% | |
| | |
| | 808 | | | Atmos Energy Corp. | | | 85 | |
| | |
| | 707 | | | UGI Corp. | | | 38 | |
| | | | | | | | |
| | | | | | | 123 | |
| | | | | | | | |
| |
| | | | Health Care Equipment & Supplies — 2.53% | |
| | |
| | 48,674 | | | Abbott Laboratories | | | 4,093 | |
| | |
| | 2,461 | | | Baxter International, Inc. | | | 202 | |
| | |
| | 5,523 | | | Becton, Dickinson & Co. | | | 1,392 | |
| | |
| | 120 | | | Boston Scientific Corp. (a) | | | 5 | |
| | |
| | 3,475 | | | Danaher Corp. | | | 497 | |
| | |
| | 4,703 | | | Dentsply Sirona, Inc. | | | 274 | |
| | |
| | 33 | | | Dexcom, Inc. (a) | | | 5 | |
| | |
| | 25 | | | Edwards Lifesciences Corp. (a) | | | 5 | |
| | |
| | 25 | | | Hill-Rom Holdings, Inc. | | | 3 | |
| | |
| | 101 | | | Hologic, Inc. (a) | | | 5 | |
| | |
| | 1,653 | | | IDEXX Laboratories, Inc. (a) | | | 455 | |
| | |
| | 1,458 | | | Integra LifeSciences Holdings Corp. (a) | | | 81 | |
| | |
| | 1,465 | | | Intuitive Surgical, Inc. (a) | | | 768 | |
| | |
| | 57,830 | | | Medtronic PLC | | | 5,631 | |
| | |
| | 5,537 | | | Penumbra, Inc. (a) | | | 886 | |
| | |
| | 597 | | | STERIS PLC | | | 89 | |
| | |
| | 24 | | | Stryker Corp. | | | 5 | |
| | |
| | 212 | | | Teleflex, Inc. | | | 70 | |
| | |
| | 59 | | | The Cooper Companies, Inc. | | | 20 | |
| | |
| | 1,872 | | | Varian Medical Systems, Inc. (a) | | | 255 | |
| | | | | | | | |
| | | | | | | 14,741 | |
| | | | | | | | |
| |
| | | | Health Care Providers & Services — 2.04% | |
| | |
| | 4,074 | | | Acadia Healthcare Company, Inc. (a) | | | 142 | |
| | |
| | 3,127 | | | AmerisourceBergen Corp. | | | 267 | |
| | |
| | 10,127 | | | Anthem, Inc. | | | 2,857 | |
| | |
| | 5,226 | | | Centene Corp. (a) | | | 274 | |
| | |
| | 16,465 | | | Cigna Corp. | | | 2,594 | |
| | |
| | 1,995 | | | Covetrus, Inc. (a) | | | 49 | |
| | |
| | 2,015 | | | Encompass Health Corp. | | | 128 | |
| | |
| | 5,553 | | | HCA Holdings, Inc. | | | 751 | |
| | |
| | 1,801 | | | Humana, Inc. | | | 478 | |
| | |
| | 2,131 | | | Laboratory Corporation of America Holdings (a) | | | 368 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Health Care Providers & Services (continued) | |
| | |
| | 4,072 | | | McKesson Corp. | | $ | 547 | |
| | |
| | 1,283 | | | Molina Heathcare, Inc. (a) | | | 184 | |
| | |
| | 9,357 | | | Patterson Companies, Inc. | | | 214 | |
| | |
| | 10,354 | | | Premier, Inc., Class – A (a) | | | 405 | |
| | |
| | 2,883 | | | Quest Diagnostics, Inc. | | | 294 | |
| | |
| | 3,385 | | | UnitedHealth Group, Inc. | | | 826 | |
| | |
| | 9,579 | | | Universal Health Services, Inc., Class – B | | | 1,249 | |
| | |
| | 1,031 | | | WellCare Health Plans, Inc. (a) | | | 294 | |
| | | | | | | | |
| | | | | | | 11,921 | |
| | | | | | | | |
| |
| | | | Health Care Technology — 0.51% | |
| | |
| | 1,939 | | | Cerner Corp. | | | 142 | |
| | |
| | 17,515 | | | Veeva Systems, Inc. (a) | | | 2,839 | |
| | | | | | | | |
| | | | | | | 2,981 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 2.08% | |
| | |
| | 5,040 | | | Aramark | | | 182 | |
| | |
| | 7,110 | | | Caesars Entertainment Corp. (a) | | | 84 | |
| | |
| | 21,292 | | | Carnival Corp., Class – A | | | 991 | |
| | |
| | 2,249 | | | Darden Restaurants, Inc. | | | 274 | |
| | |
| | 3,167 | | | Extended Stay America, Inc. | | | 53 | |
| | |
| | 1,864 | | | Hilton Grand Vacations (a) | | | 59 | |
| | |
| | 148 | | | Hilton Worldwide Holdings, Inc. | | | 14 | |
| | |
| | 2,020 | | | International Game Technology PLC | | | 26 | |
| | |
| | 11,407 | | | Las Vegas Sands Corp. | | | 674 | |
| | |
| | 29,228 | | | McDonald’s Corp. | | | 6,070 | |
| | |
| | 7,762 | | | Royal Caribbean Cruises Ltd. | | | 941 | |
| | |
| | 1,562 | | | Six Flags Entertainment Corp. | | | 78 | |
| | |
| | 30,827 | | | Starbucks Corp. | | | 2,585 | |
| | |
| | 2,948 | | | Wyndham Worldwide Corp. | | | 129 | |
| | |
| | 108 | | | Yum China Holdings, Inc. | | | 5 | |
| | | | | | | | |
| | | | | | | 12,165 | |
| | | | | | | | |
| |
| | | | Household Durables — 0.27% | |
| | |
| | 3,443 | | | D.R. Horton, Inc. | | | 148 | |
| | |
| | 3,121 | | | Garmin Ltd. | | | 249 | |
| | |
| | 6,069 | | | Leggett & Platt, Inc. | | | 233 | |
| | |
| | 5,775 | | | Lennar Corp., Class – A | | | 280 | |
| | |
| | 83 | | | Lennar Corp., Class – B | | | 3 | |
| | |
| | 773 | | | Mohawk Industries, Inc. (a) | | | 114 | |
| | |
| | 4,132 | | | PulteGroup, Inc. | | | 131 | |
| | |
| | 2,571 | | | Toll Brothers, Inc. | | | 94 | |
| | |
| | 2,180 | | | Whirlpool Corp. | | | 311 | |
| | | | | | | | |
| | | | | | | 1,563 | |
| | | | | | | | |
| |
| | | | Household Products — 1.96% | |
| | |
| | 2,171 | | | Church & Dwight Co., Inc. | | | 159 | |
| | |
| | 69 | | | Colgate-Palmolive Co. | | | 5 | |
| | |
| | 18,737 | | | Kimberly-Clark Corp. | | | 2,497 | |
| | |
| | 1,218 | | | The Clorox Co. | | | 186 | |
| | |
| | 78,443 | | | The Procter & Gamble Co. | | | 8,602 | |
| | | | | | | | |
| | | | | | | 11,449 | |
| | | | | | | | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.01% | |
| | |
| | 1,358 | | | NRG Energy, Inc., Class – C | | | 48 | |
| | |
| | 1,390 | | | Vistra Energy Corp. (a) | | | 31 | |
| | | | | | | | |
| | | | | | | 79 | |
| | | | | | | | |
See accompanying notes to financial statements.
48
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Industrial Conglomerates — 1.18% | |
| | |
| | 12,155 | | | 3M Co. | | $ | 2,107 | |
| | |
| | 186,599 | | | General Electric Co. | | | 1,959 | |
| | |
| | 16,050 | | | Honeywell International, Inc. | | | 2,802 | |
| | |
| | 41 | | | Roper Industries, Inc. | | | 15 | |
| | | | | | | | |
| | | | | | | 6,883 | |
| | | | | | | | |
| |
| | | | Insurance — 2.91% | |
| | |
| | 23,599 | | | Aflac, Inc. | | | 1,293 | |
| | |
| | 36,052 | | | Allstate Corp. | | | 3,666 | |
| | |
| | 16,390 | | | American International Group, Inc. | | | 873 | |
| | |
| | 3,483 | | | Arthur J. Gallagher & Co. | | | 305 | |
| | |
| | 1,195 | | | Assurant, Inc. | | | 127 | |
| | |
| | 2,180 | | | AXIS Capital Holdings Ltd. | | | 130 | |
| | |
| | 3,112 | | | Brighthouse Financial, Inc. (a) | | | 114 | |
| | |
| | 1,344 | | | Brown & Brown, Inc. | | | 45 | |
| | |
| | 19,960 | | | Chubb Ltd. | | | 2,939 | |
| | |
| | 4,986 | | | Cincinnati Financial Corp. | | | 517 | |
| | |
| | 522 | | | Erie Indemnity Co., Class – A | | | 133 | |
| | |
| | 3,189 | | | Everest Re Group Ltd. | | | 788 | |
| | |
| | 76,774 | | | FNF Group | | | 3,094 | |
| | |
| | 7,691 | | | Hartford Financial Services Group, Inc. | | | 429 | |
| | |
| | 52 | | | Markel Corp. (a) | | | 57 | |
| | |
| | 1,035 | | | Mercury General Corp. | | | 65 | |
| | |
| | 27,848 | | | MetLife, Inc. | | | 1,383 | |
| | |
| | 6,178 | | | Old Republic International Corp. | | | 138 | |
| | |
| | 9,015 | | | Principal Financial Group, Inc. | | | 522 | |
| | |
| | 728 | | | Reinsurance Group of America | | | 114 | |
| | |
| | 2,164 | | | W.R. Berkley Corp. | | | 143 | |
| | |
| | 118 | | | White Mountains Insurance Group Ltd. | | | 121 | |
| | | | | | | | |
| | | | | | | 16,996 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 4.43% | |
| | |
| | 9,357 | | | Alphabet, Inc., Class – A (a) | | | 10,132 | |
| | |
| | 4,583 | | | Alphabet, Inc., Class – C (a) | | | 4,954 | |
| | |
| | 55,740 | | | Facebook, Inc., Class – A (a) | | | 10,758 | |
| | |
| | 312 | | | TripAdvisor, Inc. (a) | | | 14 | |
| | | | | | | | |
| | | | | | | 25,858 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 3.37% | |
| | |
| | 9,726 | | | Amazon.com, Inc. (a) | | | 18,417 | |
| | |
| | 133 | | | Booking Holdings, Inc. (a) | | | 249 | |
| | |
| | 22,272 | | | eBay, Inc. | | | 880 | |
| | |
| | 8,120 | | | Qurate Retail, Inc. (a) | | | 101 | |
| | | | | | | | |
| | | | | | | 19,647 | |
| | | | | | | | |
| |
| | | | IT Services — 5.15% | |
| | |
| | 2,831 | | | Accenture PLC, Class – A | | | 523 | |
| | |
| | 2,108 | | | Akamai Technologies, Inc. (a) | | | 169 | |
| | |
| | 918 | | | Alliance Data Systems Corp. | | | 129 | |
| | |
| | 4,072 | | | Cognizant Technology Solutions Corp. | | | 258 | |
| | |
| | 11,864 | | | EPAM Systems, Inc. (a) | | | 2,054 | |
| | |
| | 642 | | | Fidelity National Information Services, Inc. | | | 79 | |
| | |
| | 24,374 | | | GoDaddy, Inc., Class – A (a) | | | 1,710 | |
| | |
| | 16,668 | | | International Business Machines Corp. | | | 2,299 | |
| | |
| | 1,829 | | | Leidos Holdings, Inc. | | | 146 | |
| | |
| | 26,753 | | | MasterCard, Inc., Class – A | | | 7,076 | |
| | |
| | 22,424 | | | Okta, Inc. (a) | | | 2,769 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | IT Services (continued) | |
| | |
| | 6,910 | | | Paychex, Inc. | | $ | 569 | |
| | |
| | 41,866 | | | PayPal Holdings, Inc. (a) | | | 4,791 | |
| | |
| | 5,574 | | | Sabre Corp. | | | 124 | |
| | |
| | 27,170 | | | Square, Inc., Class – A (a) | | | 1,971 | |
| | |
| | 5,412 | | | VeriSign, Inc. (a) | | | 1,132 | |
| | |
| | 23,246 | | | Visa, Inc., Class – A | | | 4,033 | |
| | |
| | 10,501 | | | Western Union Co. | | | 209 | |
| | |
| | 43 | | | WEX, Inc. (a) | | | 9 | |
| | | | | | | | |
| | | | | | | 30,050 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.04% | |
| | |
| | 1,780 | | | Brunswick Corp. | | | 82 | |
| | |
| | 1,201 | | | Hasbro, Inc. | | | 127 | |
| | | | | | | | |
| | | | | | | 209 | |
| | | | | | | | |
| |
| | | | Life Sciences Tools & Services — 0.79% | |
| | |
| | 4,371 | | | Agilent Technologies, Inc. | | | 326 | |
| | |
| | 398 | | | Bio-Rad Laboratories, Inc., Class – A (a) | | | 124 | |
| | |
| | 1,294 | | | Bruker Biosciences Corp. | | | 65 | |
| | |
| | 438 | | | Charles River Laboratories International, Inc. (a) | | | 62 | |
| | |
| | 1,110 | | | Illumina, Inc. (a) | | | 409 | |
| | |
| | 337 | | | IQVIA Holdings, Inc. (a) | | | 54 | |
| | |
| | 2,796 | | | Mettler-Toledo International, Inc. (a) | | | 2,349 | |
| | |
| | 485 | | | PerkinElmer, Inc. | | | 47 | |
| | |
| | 881 | | | Qiagen N.V. (a) | | | 36 | |
| | |
| | 3,428 | | | Thermo Electron Corp. | | | 1,007 | |
| | |
| | 745 | | | Waters Corp. (a) | | | 160 | |
| | | | | | | | |
| | | | | | | 4,639 | |
| | | | | | | | |
| |
| | | | Machinery — 1.83% | |
| | |
| | 11,677 | | | AGCO Corp. | | | 906 | |
| | |
| | 12,196 | | | Caterpillar, Inc. | | | 1,661 | |
| | |
| | 4,945 | | | Colfax Corp. (a) | | | 139 | |
| | |
| | 5,428 | | | Cummins, Inc. | | | 930 | |
| | |
| | 447 | | | Deere & Co. | | | 74 | |
| | |
| | 53 | | | Donaldson Company, Inc. | | | 3 | |
| | |
| | 4,752 | | | Dover Corp. | | | 476 | |
| | |
| | 3,214 | | | Fortive Corp. | | | 262 | |
| | |
| | 943 | | | Gates Industrial Corp. PLC (a) | | | 11 | |
| | |
| | 28 | | | IDEX Corp. | | | 5 | |
| | |
| | 7,831 | | | Ingersoll-Rand PLC | | | 992 | |
| | |
| | 1,442 | | | ITT, Inc. | | | 94 | |
| | |
| | 1,244 | | | Nordson, Inc. | | | 176 | |
| | |
| | 17,062 | | | Oshkosh Corp. | | | 1,424 | |
| | |
| | 3,523 | | | Pentair PLC | | | 131 | |
| | |
| | 1,272 | | | Terex Corp. | | | 40 | |
| | |
| | 6,496 | | | The Middleby Corp. (a) | | | 882 | |
| | |
| | 2,583 | | | The Timken Co. | | | 133 | |
| | |
| | 2,314 | | | Trinity Industries, Inc. | | | 48 | |
| | |
| | 12,886 | | | WABCO Holdings, Inc. (a) | | | 1,708 | |
| | |
| | 33,989 | | | Welbilt, Inc. (a) | | | 568 | |
| | |
| | 485 | | | Xylem, Inc. | | | 41 | |
| | | | | | | | |
| | | | | | | 10,704 | |
| | | | | | | | |
| |
| | | | Media — 1.24% | |
| | |
| | 894 | | | AMC Networks, Inc. (a) | | | 49 | |
| | |
| | 327 | | | Charter Communications, Inc., Class – A (a) | | | 129 | |
| | |
| | 146,958 | | | Comcast Corp., Class – A | | | 6,214 | |
See accompanying notes to financial statements.
49
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Media (continued) | |
| | |
| | 162 | | | Discovery Communications, Inc., Class – A (a) | | $ | 5 | |
| | |
| | 2,118 | | | Dish Network Corp. (a) | | | 81 | |
| | |
| | 4,394 | | | Omnicom Group, Inc. | | | 360 | |
| | |
| | 411 | | | Sirius XM Holdings, Inc. | | | 2 | |
| | |
| | 12,282 | | | The Interpublic Group of Companies, Inc. | | | 277 | |
| | |
| | 2,002 | | | Tribune Media Co., Class – A | | | 93 | |
| | | | | | | | |
| | | | | | | 7,210 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.46% | |
| | |
| | 3,825 | | | Alcoa Corp. (a) | | | 90 | |
| | |
| | 29,848 | | | Freeport-McMoRan Copper & Gold, Inc. | | | 347 | |
| | |
| | 18,762 | | | Newmont Mining Corp. | | | 721 | |
| | |
| | 9,396 | | | Nucor Corp. | | | 518 | |
| | |
| | 1,400 | | | Royal Gold, Inc. | | | 143 | |
| | |
| | 3,293 | | | Southern Copper Corp. | | | 128 | |
| | |
| | 1,912 | | | Steel Dynamics, Inc. | | | 58 | |
| | |
| | 45,551 | | | United States Steel Corp. | | | 697 | |
| | | | | | | | |
| | | | | | | 2,702 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.07% | |
| | |
| | 5,771 | | | Chimera Investment Corp. | | | 109 | |
| | |
| | 10,734 | | | MFA Financial, Inc. | | | 77 | |
| | |
| | 8,539 | | | New Residential Investment Corp. | | | 131 | |
| | |
| | 4,912 | | | Starwood Property Trust, Inc. | | | 112 | |
| | | | | | | | |
| | | | | | | 429 | |
| | | | | | | | |
| |
| | | | Multiline Retail — 0.54% | |
| | |
| | 952 | | | Dollar General Corp. | | | 129 | |
| | |
| | 4,856 | | | Dollar Tree, Inc. (a) | | | 521 | |
| | |
| | 6,898 | | | Kohl’s Corp. | | | 328 | |
| | |
| | 30,586 | | | Macy’s, Inc. | | | 656 | |
| | |
| | 17,745 | | | Target Corp. | | | 1,537 | |
| | | | | | | | |
| | | | | | | 3,171 | |
| | | | | | | | |
| |
| | | | Multi-Utilities — 1.22% | |
| | |
| | 2,674 | | | Ameren Corp. | | | 201 | |
| | |
| | 1,937 | | | CMS Energy Corp. | | | 112 | |
| | |
| | 1,350 | | | Consolidated Edison, Inc. | | | 118 | |
| | |
| | 24,990 | | | Dominion Resources, Inc. | | | 1,932 | |
| | |
| | 1,043 | | | DTE Energy Co. | | | 133 | |
| | |
| | 93,331 | | | NiSource, Inc. | | | 2,689 | |
| | |
| | 5,865 | | | Public Service Enterprise Group, Inc. | | | 345 | |
| | |
| | 951 | | | Sempra Energy | | | 131 | |
| | |
| | 17,371 | | | WEC Energy Group, Inc. | | | 1,448 | |
| | | | | | | | |
| | | | | | | 7,109 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 3.97% | |
| | |
| | 4,642 | | | Antero Midstream Corp. | | | 53 | |
| | |
| | 201,039 | | | Antero Resources Corp. (a) | | | 1,112 | |
| | |
| | 3,763 | | | Centennial Resource Development, Inc.,
Class – A (a) | | | 29 | |
| | |
| | 183,940 | | | Chesapeake Energy Corp. (a) | | | 359 | |
| | |
| | 54,151 | | | Chevron Corp. | | | 6,738 | |
| | |
| | 112 | | | Concho Resources, Inc. | | | 12 | |
| | |
| | 11,699 | | | ConocoPhillips | | | 714 | |
| | |
| | 562 | | | Continental Resources, Inc. | | | 24 | |
| | |
| | 8,526 | | | Devon Energy Corp. | | | 243 | |
| | |
| | 2,197 | | | Diamondback Energy, Inc. | | | 239 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Oil, Gas & Consumable Fuels (continued) | |
| | |
| | 29,642 | | | EOG Resources, Inc. | | $ | 2,760 | |
| | |
| | 4,557 | | | Equitrans Midstream Corp. | | | 90 | |
| | |
| | 34,283 | | | Exxon Mobil Corp. | | | 2,627 | |
| | |
| | 16,993 | | | Hess Corp. | | | 1,080 | |
| | |
| | 2,849 | | | HollyFrontier Corp. | | | 132 | |
| | |
| | 70,023 | | | Kinder Morgan, Inc. | | | 1,462 | |
| | |
| | 16,807 | | | Marathon Oil Corp. | | | 239 | |
| | |
| | 21,331 | | | Marathon Petroleum Corp. | | | 1,192 | |
| | |
| | 3,793 | | | Murphy Oil Corp. | | | 93 | |
| | |
| | 9,759 | | | Noble Energy, Inc. | | | 219 | |
| | |
| | 15,425 | | | Occidental Petroleum Corp. | | | 776 | |
| | |
| | 6,401 | | | ONEOK, Inc. | | | 440 | |
| | |
| | 5,536 | | | Parsley Energy, Inc., Class – A (a) | | | 105 | |
| | |
| | 3,630 | | | PBF Energy, Inc., Class – A | | | 114 | |
| | |
| | 9,353 | | | Phillips 66 | | | 875 | |
| | |
| | 129 | | | Targa Resources Corp. | | | 5 | |
| | |
| | 180 | | | The Williams Companies, Inc. | | | 5 | |
| | |
| | 16,585 | | | Valero Energy Corp. | | | 1,420 | |
| | | | | | | | |
| | | | | | | 23,157 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.10% | |
| | |
| | 10,936 | | | Coty, Inc., Class – A | | | 147 | |
| | |
| | 1,139 | | | Herbalife Ltd. (a) | | | 49 | |
| | |
| | 1,129 | | | Nu Skin Enterprises, Inc., Class – A | | | 56 | |
| | |
| | 1,700 | | | The Estee Lauder Companies, Inc., Class – A | | | 311 | |
| | | | | | | | |
| | | | | | | 563 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 4.60% | |
| | |
| | 6,764 | | | Allergan PLC | | | 1,132 | |
| | |
| | 4,172 | | | Bristol-Myers Squibb Co. | | | 189 | |
| | |
| | 7,549 | | | Elanco Animal Health, Inc. (a) | | | 255 | |
| | |
| | 19,272 | | | Eli Lilly & Co. | | | 2,135 | |
| | |
| | 54,806 | | | Johnson & Johnson | | | 7,633 | |
| | |
| | 88,455 | | | Merck & Co., Inc. | | | 7,417 | |
| | |
| | 3,454 | | | Nektar Therapeutics (a) | | | 123 | |
| | |
| | 184,193 | | | Pfizer, Inc. | | | 7,980 | |
| | | | | | | | |
| | | | | | | 26,864 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.85% | |
| | |
| | 4,444 | | | CoStar Group, Inc. (a) | | | 2,462 | |
| | |
| | 1,081 | | | Equifax, Inc. | | | 146 | |
| | |
| | 950 | | | IHS Markit Ltd. (a) | | | 61 | |
| | |
| | 605 | | | Nielsen Holdings PLC | | | 14 | |
| | |
| | 825 | | | Robert Half International, Inc. | | | 47 | |
| | |
| | 15,150 | | | Versik Analytics, Inc., Class – A | | | 2,219 | |
| | | | | | | | |
| | | | | | | 4,949 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.02% | |
| | |
| | 1,691 | | | CBRE Group, Inc., Class – A (a) | | | 87 | |
| | |
| | 368 | | | Newmark Group, Inc., Class – A | | | 3 | |
| | | | | | | | |
| | | | | | | 90 | |
| | | | | | | | |
| |
| | | | Road & Rail — 1.02% | |
| | |
| | 1,388 | | | AMERCO, Inc. | | | 525 | |
| | |
| | 873 | | | CSX Corp. | | | 68 | |
| | |
| | 9,369 | | | Genesee & Wyoming, Inc., Class – A (a) | | | 937 | |
| | |
| | 5,345 | | | Norfolk Southern Corp. | | | 1,065 | |
| | |
| | 975 | | | Old Dominion Freight Line, Inc. | | | 146 | |
| | |
| | 1,070 | | | Ryder System, Inc. | | | 62 | |
See accompanying notes to financial statements.
50
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Road & Rail (continued) | |
| | |
| | 1,140 | | | Schneider National, Inc. | | $ | 21 | |
| | |
| | 113 | | | Uber Technologies, Inc. (a) | | | 5 | |
| | |
| | 18,473 | | | Union Pacific Corp. | | | 3,124 | |
| | | | | | | | |
| | | | | | | 5,953 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 3.05% | |
| | |
| | 21,151 | | | Applied Materials, Inc. | | | 950 | |
| | |
| | 3,252 | | | Broadcom, Inc. | | | 936 | |
| | |
| | 139,597 | | | Intel Corp. | | | 6,682 | |
| | |
| | 3,302 | | | KLA-Tencor Corp. | | | 390 | |
| | |
| | 1,129 | | | Lam Research Corp. | | | 212 | |
| | |
| | 6,026 | | | Marvell Technology Group Ltd. | | | 144 | |
| | |
| | 5,918 | | | Maxim Integrated Products, Inc. | | | 354 | |
| | |
| | 1,474 | | | Micron Technology, Inc. (a) | | | 57 | |
| | |
| | 12,565 | | | NVIDIA Corp. | | | 2,064 | |
| | |
| | 21,473 | | | Qualcomm, Inc. | | | 1,633 | |
| | |
| | 3,842 | | | Skyworks Solutions, Inc. | | | 297 | |
| | |
| | 23,905 | | | Texas Instruments, Inc. | | | 2,743 | |
| | |
| | 6,964 | | | Universal Display Corp. | | | 1,310 | |
| | |
| | 115 | | | Xilinx, Inc. | | | 14 | |
| | | | | | | | |
| | | | | | | 17,786 | |
| | | | | | | | |
| |
| | | | Software — 7.53% | |
| | |
| | 16,180 | | | Adobe Systems, Inc. (a) | | | 4,767 | |
| | |
| | 14,588 | | | Autodesk, Inc. (a) | | | 2,376 | |
| | |
| | 284 | | | Guidewire Software, Inc. (a) | | | 29 | |
| | |
| | 29,183 | | | Manhattan Associates, Inc. (a) | | | 2,023 | |
| | |
| | 144,589 | | | Microsoft Corp. | | | 19,370 | |
| | |
| | 6,281 | | | Nuance Communications, Inc. (a) | | | 100 | |
| | |
| | 94,580 | | | Oracle Corp. | | | 5,388 | |
| | |
| | 11,384 | | | Paycom Software, Inc. (a) | | | 2,581 | |
| | |
| | 15,646 | | | Proofpoint, Inc. (a) | | | 1,881 | |
| | |
| | 18,193 | | | RingCentral, Inc., Class – A (a) | | | 2,091 | |
| | |
| | 1,329 | | | Salesforce.com, Inc. (a) | | | 202 | |
| | |
| | 11,142 | | | ServiceNow, Inc. (a) | | | 3,059 | |
| | |
| | 668 | | | Synopsys, Inc. (a) | | | 86 | |
| | | | | | | | |
| | | | | | | 43,953 | |
| | | | | | | | |
| |
| | | | Specialty Retail — 1.76% | |
| | |
| | 1,250 | | | Advance Auto Parts, Inc. | | | 193 | |
| | |
| | 2,829 | | | AutoNation, Inc. (a) | | | 119 | |
| | |
| | 22 | | | AutoZone, Inc. (a) | | | 24 | |
| | |
| | 7,757 | | | Best Buy Co., Inc. | | | 541 | |
| | |
| | 201 | | | Burlington Stores, Inc. (a) | | | 34 | |
| | |
| | 1,830 | | | CarMax, Inc. (a) | | | 159 | |
| | |
| | 2,192 | | | Dick’s Sporting Goods, Inc. | | | 76 | |
| | |
| | 45,768 | | | Floor & Decor Holdings, Inc., Class – A (a) | | | 1,918 | |
| | |
| | 1,548 | | | Foot Locker, Inc. | | | 65 | |
| | |
| | 1,901 | | | O’Reilly Automotive, Inc. (a) | | | 702 | |
| | |
| | 2,472 | | | Ross Stores, Inc. | | | 245 | |
| | |
| | 21,834 | | | The Home Depot, Inc. | | | 4,540 | |
| | |
| | 25,042 | | | The TJX Companies, Inc. | | | 1,324 | |
| | |
| | 620 | | | Tiffany & Co. | | | 58 | |
| | |
| | 124 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | | | 43 | |
| | |
| | 703 | | | Urban Outfitters, Inc. (a) | | | 16 | |
| | |
| | 3,016 | | | Williams-Sonoma, Inc. | | | 196 | |
| | | | | | | | |
| | | | | | | 10,253 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Technology Hardware, Storage & Peripherals — 3.99% | |
| | |
| | 100,447 | | | Apple, Inc. | | $ | 19,880 | |
| | |
| | 899 | | | Dell Technologies, Inc. (a) | | | 46 | |
| | |
| | 147,510 | | | HP, Inc. | | | 3,067 | |
| | |
| | 285 | | | NetApp, Inc. | | | 18 | |
| | |
| | 6,333 | | | Western Digital Corp. | | | 301 | |
| | | | | | | | |
| | | | | | | 23,312 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 0.49% | |
| | |
| | 745 | | | Capri Holdings Ltd. (a) | | | 26 | |
| | |
| | 917 | | | Carter’s, Inc. | | | 89 | |
| | |
| | 7,401 | | | Hanesbrands, Inc. | | | 127 | |
| | |
| | 1,304 | | | Kontoor Brands, Inc. (a) | | | 37 | |
| | |
| | 9,169 | | | NIKE, Inc., Class – B | | | 770 | |
| | |
| | 1,072 | | | Ralph Lauren Corp. | | | 122 | |
| | |
| | 1,460 | | | Tapestry, Inc. | | | 46 | |
| | |
| | 38,285 | | | Under Armour, Inc., Class – C (a) | | | 850 | |
| | |
| | 9,131 | | | V.F. Corp. | | | 798 | |
| | | | | | | | |
| | | | | | | 2,865 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.02% | |
| | |
| | 9,330 | | | New York Community Bancorp, Inc. | | | 93 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.39% | |
| | |
| | 38,596 | | | Altria Group, Inc. | | | 1,828 | |
| | |
| | 5,858 | | | Philip Morris International, Inc. | | | 460 | |
| | | | | | | | |
| | | | | | | 2,288 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 0.23% | |
| | |
| | 20,048 | | | Fastenal Co. | | | 653 | |
| | |
| | 4,912 | | | HD Supply Holdings, Inc. (a) | | | 198 | |
| | |
| | 441 | | | MSC Industrial Direct Co., Inc., Class – A | | | 33 | |
| | |
| | 916 | | | W.W. Grainger, Inc. | | | 246 | |
| | |
| | 1,158 | | | Watsco, Inc. | | | 189 | |
| | |
| | 919 | | | WESCO International, Inc. (a) | | | 47 | |
| | | | | | | | |
| | | | | | | 1,366 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.04% | |
| | |
| | 5,918 | | | Macquarie Infrastructure Corp. | | | 240 | |
| | | | | | | | |
| |
| | | | Water Utilities — 0.02% | |
| | |
| | 1,178 | | | American Water Works Co., Inc. | | | 137 | |
| | | | | | | | |
| |
| | | | Wireless Telecommunication Services — 0.45% | |
| | |
| | 8,547 | | | Sprint Nextel Corp. (a) | | | 56 | |
| | |
| | 3,124 | | | Telephone & Data Systems, Inc. | | | 95 | |
| | |
| | 33,735 | | | T-Mobile USA, Inc. (a) | | | 2,501 | |
| | | | | | | | |
| | | | | | | 2,652 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 564,312 | |
| | | | | | | | |
| |
| | | | Investment Companies — 3.17% | |
| | |
| | 547,974 | | | Dreyfus Treasury Securities Cash Management, Institutional Shares, 2.10% (b) | | | 548 | |
| | |
| | 17,931,051 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (b) | | | 17,931 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 18,479 | |
| | | | | | | | |
| | | | Total Investments
(cost $431,993) — 99.83% | | | 582,791 | |
| | | | Other assets in excess of
liabilities — 0.17% | | | 966 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 583,757 | |
| | | | | | | | |
| (a) | Representsnon-income producing security. |
| (b) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
See accompanying notes to financial statements.
51
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
As of June 30, 2019, 100% of the Portfolio’s net assets were managed by Parametric Portfolio Associates, LLC.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
E-Mini S&P 500 Future | | 85 | | 9/20/19 | | $ | 12,513 | | | $ | 124 | |
| | | | |
E-Mini S&P Midcap 400 Future | | 20 | | 9/20/19 | | | 3,900 | | | | 56 | |
| | | | | | | | | | | | |
| | | | $ | 16,413 | | | $ | 180 | |
| | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 180 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 180 | |
| | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
52
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 70.58% | |
| |
| | | | Aerospace & Defense — 1.59% | |
| | |
| | 1,153 | | | AAR Corp. | | $ | 42 | |
| | |
| | 21,096 | | | Arconic, Inc. | | | 545 | |
| | |
| | 3,509 | | | BWX Technologies, Inc. | | | 183 | |
| | |
| | 2,526 | | | Curtiss-Wright Corp. | | | 321 | |
| | |
| | 13,938 | | | General Dynamics Corp. | | | 2,534 | |
| | |
| | 3,258 | | | Harris Corp. | | | 616 | |
| | |
| | 1,183 | | | HEICO Corp. | | | 158 | |
| | |
| | 1,038 | | | HEICO Corp., Class – A | | | 107 | |
| | |
| | 2,610 | | | Hexcel Corp. | | | 211 | |
| | |
| | 867 | | | Huntington Ingalls Industries, Inc. | | | 195 | |
| | |
| | 4,074 | | | L3 Technologies, Inc. | | | 999 | |
| | |
| | 7,658 | | | Lockheed Martin Corp. | | | 2,784 | |
| | |
| | 809 | | | Moog, Inc., Class – A | | | 76 | |
| | |
| | 5,081 | | | Northrop Grumman Corp. | | | 1,642 | |
| | |
| | 10,582 | | | Raytheon Co. | | | 1,840 | |
| | |
| | 1,792 | | | Spirit Aerosystems Holdings, Inc., Class – A | | | 146 | |
| | |
| | 2,182 | | | Teledyne Technologies, Inc. (a) | | | 598 | |
| | |
| | 11,374 | | | Textron, Inc. | | | 603 | |
| | |
| | 10,264 | | | The Boeing Co. | | | 3,736 | |
| | |
| | 1,663 | | | TransDigm Group, Inc. (a) | | | 805 | |
| | |
| | 2,055 | | | Triumph Group, Inc. | | | 47 | |
| | |
| | 42,876 | | | United Technologies Corp. | | | 5,582 | |
| | | | | | | | |
| | | | | | | 23,770 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.34% | |
| | |
| | 946 | | | Atlas Air Worldwide Holdings, Inc. (a) | | | 42 | |
| | |
| | 6,370 | | | C.H. Robinson Worldwide, Inc. | | | 537 | |
| | |
| | 7,991 | | | Expeditors International of Washington, Inc. | | | 606 | |
| | |
| | 11,350 | | | FedEx Corp. | | | 1,863 | |
| | |
| | 1,396 | | | Hub Group, Inc., Class – A (a) | | | 59 | |
| | |
| | 17,369 | | | United Parcel Service, Inc., Class – B | | | 1,794 | |
| | |
| | 2,968 | | | XPO Logistics, Inc. (a) | | | 172 | |
| | | | | | | | |
| | | | | | | 5,073 | |
| | | | | | | | |
| |
| | | | Airlines — 0.32% | |
| | |
| | 4,506 | | | Alaska Air Group, Inc. | | | 288 | |
| | |
| | 264 | | | Allegiant Travel Co. | | | 38 | |
| | |
| | 24,906 | | | American Airlines Group, Inc. | | | 812 | |
| | |
| | 1,503 | | | Copa Holdings SA, Class – A | | | 147 | |
| | |
| | 26,947 | | | Delta Air Lines, Inc. | | | 1,529 | |
| | |
| | 14,921 | | | JetBlue Airways Corp. (a) | | | 276 | |
| | |
| | 1,297 | | | SkyWest, Inc. | | | 79 | |
| | |
| | 14,805 | | | Southwest Airlines Co. | | | 752 | |
| | |
| | 9,961 | | | United Continental Holdings, Inc. (a) | | | 872 | |
| | | | | | | | |
| | | | | | | 4,793 | |
| | | | | | | | |
| |
| | | | Auto Components — 0.19% | |
| | |
| | 3,201 | | | Adient PLC | | | 78 | |
| | |
| | 1,629 | | | American Axle & Manufacturing Holdings, Inc. (a) | | | 21 | |
| | |
| | 11,582 | | | Aptiv PLC | | | 936 | |
| | |
| | 10,093 | | | BorgWarner, Inc. | | | 424 | |
| | |
| | 2,374 | | | Cooper Tire & Rubber Co. | | | 75 | |
| | |
| | 3,485 | | | Dana Holding Corp. | | | 69 | |
| | |
| | 698 | | | Dorman Products, Inc. (a) | | | 61 | |
| | |
| | 1,242 | | | Garrett Motion, Inc. (a) | | | 19 | |
| | |
| | 15,676 | | | Gentex Corp. | | | 386 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Auto Components (continued) | |
| | |
| | 12,483 | | | Goodyear Tire & Rubber Co. | | $ | 191 | |
| | |
| | 3,606 | | | Lear Corp. | | | 501 | |
| | |
| | 1,089 | | | Visteon Corp. (a) | | | 64 | |
| | | | | | | | |
| | | | | | | 2,825 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.45% | |
| | |
| | 249,994 | | | Ford Motor Co. | | | 2,557 | |
| | |
| | 82,055 | | | General Motors Co. | | | 3,162 | |
| | |
| | 10,163 | | | Harley-Davidson, Inc. | | | 364 | |
| | |
| | 1,892 | | | Tesla Motors, Inc. (a) | | | 423 | |
| | |
| | 3,032 | | | Thor Industries, Inc. | | | 177 | |
| | | | | | | | |
| | | | | | | 6,683 | |
| | | | | | | | |
| |
| | | | Banks — 4.69% | |
| | |
| | 7,895 | | | Associated Banc-Corp. | | | 167 | |
| | |
| | 423,637 | | | Bank of America Corp. | | | 12,285 | |
| | |
| | 1,953 | | | Bank of Hawaii Corp. | | | 162 | |
| | |
| | 5,860 | | | Bank OZK | | | 176 | |
| | |
| | 4,841 | | | BankUnited, Inc. | | | 163 | |
| | |
| | 37,009 | | | BB&T Corp. | | | 1,818 | |
| | |
| | 1,552 | | | BOK Financial Corp. | | | 117 | |
| | |
| | 5,561 | | | CIT Group, Inc. | | | 292 | |
| | |
| | 113,013 | | | Citigroup, Inc. | | | 7,914 | |
| | |
| | 22,573 | | | Citizens Financial Group, Inc. | | | 798 | |
| | |
| | 7,315 | | | Comerica, Inc. | | | 531 | |
| | |
| | 4,774 | | | Commerce Bancshares, Inc. | | | 285 | |
| | |
| | 2,668 | | | Cullen/Frost Bankers, Inc. | | | 250 | |
| | |
| | 6,936 | | | East West Bancorp, Inc. | | | 324 | |
| | |
| | 35,934 | | | Fifth Third Bancorp | | | 1,003 | |
| | |
| | 369 | | | First Citizens BancShares, Inc., Class – A | | | 166 | |
| | |
| | 7,011 | | | First Hawaiian, Inc. | | | 181 | |
| | |
| | 16,006 | | | First Horizon National Corp. | | | 239 | |
| | |
| | 7,953 | | | First Republic Bank | | | 777 | |
| | |
| | 15,096 | | | FNB Corp. | | | 178 | |
| | |
| | 51,036 | | | Huntington Bancshares, Inc. | | | 705 | |
| | |
| | 157,662 | | | JPMorgan Chase & Co. | | | 17,627 | |
| | |
| | 49,345 | | | KeyCorp | | | 876 | |
| | |
| | 6,663 | | | M&T Bank Corp. | | | 1,133 | |
| | |
| | 5,832 | | | PacWest Bancorp | | | 226 | |
| | |
| | 18,757 | | | People’s United Financial, Inc. | | | 315 | |
| | |
| | 3,563 | | | Pinnacle Financial Partners, Inc. | | | 205 | |
| | |
| | 21,957 | | | PNC Financial Services Group, Inc. | | | 3,014 | |
| | |
| | 4,701 | | | Popular, Inc. | | | 255 | |
| | |
| | 3,112 | | | Prosperity Bancshares, Inc. | | | 206 | |
| | |
| | 49,812 | | | Regions Financial Corp. | | | 744 | |
| | |
| | 1,665 | | | Signature Bank | | | 201 | |
| | |
| | 10,219 | | | Sterling Bancorp/DE | | | 217 | |
| | |
| | 21,699 | | | SunTrust Banks, Inc. | | | 1,364 | |
| | |
| | 2,331 | | | SVB Financial Group (a) | | | 524 | |
| | |
| | 7,017 | | | Synovus Financial Corp. | | | 246 | |
| | |
| | 7,812 | | | TCF Financial Corp. | | | 162 | |
| | |
| | 2,348 | | | Texas Capital Bancshares, Inc. (a) | | | 144 | |
| | |
| | 71,255 | | | U.S. Bancorp | | | 3,734 | |
| | |
| | 10,948 | | | Umpqua Holdings Corp. | | | 182 | |
| | |
| | 616 | | | United Bankshares, Inc. | | | 23 | |
| | |
| | 4,272 | | | Webster Financial Corp. | | | 204 | |
| | |
| | 197,603 | | | Wells Fargo & Co. | | | 9,351 | |
See accompanying notes to financial statements.
53
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Banks (continued) | |
| | |
| | 4,257 | | | Western Alliance Bancorp (a) | | $ | 190 | |
| | |
| | 2,782 | | | Wintrust Financial Corp. | | | 204 | |
| | |
| | 9,041 | | | Zions Bancorp | | | 416 | |
| | | | | | | | |
| | | | | | | 70,294 | |
| | | | | | | | |
| |
| | | | Beverages — 1.32% | |
| | |
| | 684 | | | Brown-Forman Corp., Class – A | | | 38 | |
| | |
| | 8,572 | | | Brown-Forman Corp., Class – B | | | 475 | |
| | |
| | 1,667 | | | Coca-Cola European Partners PLC | | | 94 | |
| | |
| | 8,062 | | | Constellation Brands, Inc., Class – A | | | 1,588 | |
| | |
| | 13,673 | | | Keurig Dr Pepper, Inc. | | | 395 | |
| | |
| | 8,458 | | | Molson Coors Brewing Co., Class – B | | | 474 | |
| | |
| | 8,197 | | | Monster Beverage Corp. (a) | | | 523 | |
| | |
| | 56,418 | | | PepsiCo, Inc. | | | 7,398 | |
| | |
| | 218 | | | The Boston Beer Co., Inc., Class – A (a) | | | 82 | |
| | |
| | 170,791 | | | The Coca-Cola Co. | | | 8,697 | |
| | | | | | | | |
| | | | | | | 19,764 | |
| | | | | | | | |
| |
| | | | Biotechnology — 1.14% | |
| | |
| | 28,524 | | | AbbVie, Inc. | | | 2,074 | |
| | |
| | 2,224 | | | Agios Pharmaceuticals, Inc. (a) | | | 111 | |
| | |
| | 5,593 | | | Alexion Pharmaceuticals, Inc. (a) | | | 733 | |
| | |
| | 7,258 | | | Alkermes PLC (a) | | | 164 | |
| | |
| | 1,921 | | | Alnylam Pharmaceuticals, Inc. (a) | | | 139 | |
| | |
| | 10,442 | | | Amgen, Inc. | | | 1,924 | |
| | |
| | 7,629 | | | Biogen Idec, Inc. (a) | | | 1,784 | |
| | |
| | 2,412 | | | BioMarin Pharmaceutical, Inc. (a) | | | 207 | |
| | |
| | 2,585 | | | Bluebird Bio, Inc. (a) | | | 329 | |
| | |
| | 14,922 | | | Celgene Corp. (a) | | | 1,379 | |
| | |
| | 1,623 | | | Exact Sciences Corp. (a) | | | 192 | |
| | |
| | 9,847 | | | Exelixis, Inc. (a) | | | 210 | |
| | |
| | 68,526 | | | Gilead Sciences, Inc. | | | 4,629 | |
| | |
| | 3,375 | | | Incyte Corp. (a) | | | 287 | |
| | |
| | 1,711 | | | Ionis Pharmaceuticals, Inc. (a) | | | 110 | |
| | |
| | 354 | | | Moderna, Inc. (a) | | | 5 | |
| | |
| | 3,297 | | | Myriad Genetics, Inc. (a) | | | 92 | |
| | |
| | 1,213 | | | Neurocrine Biosciences, Inc. (a) | | | 102 | |
| | |
| | 3,574 | | | Regeneron Pharmaceuticals, Inc. (a) | | | 1,119 | |
| | |
| | 692 | | | Sage Therapeutics, Inc. (a) | | | 127 | |
| | |
| | 901 | | | Sarepta Therapeutics, Inc. (a) | | | 137 | |
| | |
| | 1,458 | | | Seattle Genetics, Inc. (a) | | | 101 | |
| | |
| | 2,659 | | | United Therapeutics Corp. (a) | | | 208 | |
| | |
| | 4,871 | | | Vertex Pharmaceuticals, Inc. (a) | | | 893 | |
| | | | | | | | |
| | | | | | | 17,056 | |
| | | | | | | | |
| |
| | | | Building Products — 0.30% | |
| | |
| | 6,589 | | | A.O. Smith Corp. | | | 311 | |
| | |
| | 2,073 | | | Allegion PLC | | | 229 | |
| | |
| | 1,461 | | | Armstrong World Industries, Inc. | | | 142 | |
| | |
| | 5,187 | | | Fortune Brands Home & Security, Inc. | | | 296 | |
| | |
| | 47,844 | | | Johnson Controls International PLC | | | 1,977 | |
| | |
| | 1,285 | | | Lennox International, Inc. | | | 353 | |
| | |
| | 16,824 | | | Masco Corp. | | | 661 | |
| | |
| | 541 | | | Masonite International Corp. (a) | | | 28 | |
| | |
| | 5,125 | | | Owens Corning, Inc. | | | 298 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Building Products (continued) | |
| | |
| | 6,774 | | | Resideo Technologies, Inc. (a) | | $ | 148 | |
| | |
| | 920 | | | Universal Forest Products, Inc. | | | 35 | |
| | | | | | | | |
| | | | | | | 4,478 | |
| | | | | | | | |
| |
| | | | Capital Markets — 2.02% | |
| | |
| | 2,950 | | | Affiliated Managers Group, Inc. | | | 272 | |
| | |
| | 5,867 | | | Ameriprise Financial, Inc. | | | 852 | |
| | |
| | 42,013 | | | Bank of New York Mellon Corp. | | | 1,855 | |
| | |
| | 12,203 | | | BGC Partners, Inc., Class – A | | | 64 | |
| | |
| | 5,770 | | | BlackRock, Inc., Class – A | | | 2,707 | |
| | |
| | 4,297 | | | CBOE Holdings, Inc. | | | 445 | |
| | |
| | 20,857 | | | CME Group, Inc. | | | 4,048 | |
| | |
| | 411 | | | Cohen & Steers, Inc. | | | 21 | |
| | |
| | 10,533 | | | E*Trade Financial Corp. | | | 470 | |
| | |
| | 5,262 | | | Eaton Vance Corp. | | | 227 | |
| | |
| | 1,418 | | | Evercore Partners, Inc., Class – A | | | 126 | |
| | |
| | 979 | | | FactSet Research Systems, Inc. | | | 281 | |
| | |
| | 1,798 | | | Federated Investors, Inc., Class – B | | | 58 | |
| | |
| | 20,727 | | | Franklin Resources, Inc. | | | 721 | |
| | |
| | 17,070 | | | Goldman Sachs Group, Inc. | | | 3,492 | |
| | |
| | 2,792 | | | Interactive Brokers Group, Inc., Class – A | | | 151 | |
| | |
| | 24,266 | | | Intercontinental Exchange Group, Inc. | | | 2,085 | |
| | |
| | 20,300 | | | Invesco Ltd. | | | 415 | |
| | |
| | 5,414 | | | Janus Henderson Group PLC | | | 116 | |
| | |
| | 3,836 | | | Lazard Ltd., Class – A | | | 132 | |
| | |
| | 5,841 | | | Legg Mason, Inc. | | | 224 | |
| | |
| | 3,835 | | | LPL Financial Holdings, Inc. | | | 313 | |
| | |
| | 762 | | | MarketAxess Holdings, Inc. | | | 245 | |
| | |
| | 2,770 | | | Moody’s Corp. | | | 541 | |
| | |
| | 58,492 | | | Morgan Stanley | | | 2,563 | |
| | |
| | 660 | | | Morningstar, Inc. | | | 95 | |
| | |
| | 2,298 | | | MSCI, Inc. Common | | | 549 | |
| | |
| | 9,670 | | | Northern Trust Corp. | | | 870 | |
| | |
| | 5,099 | | | Raymond James Financial, Inc. | | | 431 | |
| | |
| | 4,210 | | | S&P Global, Inc. | | | 959 | |
| | |
| | 5,395 | | | SEI Investments Co. | | | 303 | |
| | |
| | 17,939 | | | State Street Corp. | | | 1,006 | |
| | |
| | 10,814 | | | T. Rowe Price Group, Inc. | | | 1,186 | |
| | |
| | 4,998 | | | TD Ameritrade Holding Corp. | | | 250 | |
| | |
| | 32,545 | | | The Charles Schwab Corp. | | | 1,308 | |
| | |
| | 6,469 | | | The Nasdaq OMX Group, Inc. | | | 622 | |
| | |
| | 1,512 | | | Virtu Financial, Inc., Class – A | | | 33 | |
| | |
| | 5,143 | | | Waddell & Reed Financial, Inc., Class – A | | | 86 | |
| | | | | | | | |
| | | | | | | 30,122 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.73% | |
| | |
| | 10,491 | | | Air Products & Chemicals, Inc. | | | 2,374 | |
| | |
| | 5,045 | | | Albemarle Corp. | | | 355 | |
| | |
| | 2,912 | | | Ashland Global Holdings, Inc. | | | 233 | |
| | |
| | 9,111 | | | Axalta Coating Systems Ltd. (a) | | | 271 | |
| | |
| | 2,994 | | | Cabot Corp. | | | 143 | |
| | |
| | 6,630 | | | Celanese Corp., Series A | | | 715 | |
| | |
| | 12,322 | | | CF Industries Holdings, Inc. | | | 576 | |
| | |
| | 36,753 | | | Corteva, Inc. | | | 1,087 | |
| | |
| | 36,370 | | | Dow, Inc. | | | 1,793 | |
| | |
| | 36,398 | | | DuPont de Nemours, Inc. | | | 2,731 | |
| | |
| | 6,663 | | | Eastman Chemical Co. | | | 519 | |
| | |
| | 6,510 | | | Ecolab, Inc. | | | 1,285 | |
See accompanying notes to financial statements.
54
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Chemicals (continued) | |
| | |
| | 7,710 | | | Element Solutions, Inc. (a) | | $ | 80 | |
| | |
| | 6,297 | | | FMC Corp. | | | 522 | |
| | |
| | 10,978 | | | Huntsman Corp. | | | 224 | |
| | |
| | 426 | | | Innospec, Inc. | | | 39 | |
| | |
| | 6,248 | | | International Flavors & Fragrances, Inc. | | | 907 | |
| | |
| | 28,161 | | | Linde PLC | | | 5,654 | |
| | |
| | 25,906 | | | LyondellBasell Industries N.V., Class – A | | | 2,232 | |
| | |
| | 358 | | | NewMarket Corp. | | | 144 | |
| | |
| | 7,793 | | | Olin Corp. | | | 171 | |
| | |
| | 1,581 | | | PolyOne Corp. | �� | | 50 | |
| | |
| | 10,824 | | | PPG Industries, Inc. | | | 1,263 | |
| | |
| | 6,494 | | | RPM International, Inc. | | | 397 | |
| | |
| | 849 | | | Sensient Technologies Corp. | | | 62 | |
| | |
| | 7,815 | | | The Chemours Co. | | | 188 | |
| | |
| | 26,455 | | | The Mosaic Co. | | | 662 | |
| | |
| | 1,372 | | | The Scotts Miracle-Gro Co. | | | 135 | |
| | |
| | 1,160 | | | The Sherwin-Williams Co. | | | 532 | |
| | |
| | 9,099 | | | Valvoline, Inc. | | | 178 | |
| | |
| | 1,965 | | | W.R. Grace & Co. | | | 150 | |
| | |
| | 1,669 | | | Westlake Chemical Corp. | | | 116 | |
| | | | | | | | |
| | | | | | | 25,788 | |
| | | | | | | | |
| |
| | | | Commercial Services & Supplies — 0.37% | |
| | |
| | 2,403 | | | ABM Industries, Inc. | | | 96 | |
| | |
| | 4,065 | | | ADT, Inc. | | | 25 | |
| | |
| | 1,004 | | | Advanced Disposal Services, Inc. (a) | | | 32 | |
| | |
| | 541 | | | Brady Corp., Class – A | | | 27 | |
| | |
| | 2,654 | | | Cintas Corp. | | | 630 | |
| | |
| | 2,664 | | | Clean Harbors, Inc. (a) | | | 189 | |
| | |
| | 7,067 | | | Copart, Inc. (a) | | | 528 | |
| | |
| | 3,098 | | | Covanta Holding Corp. | | | 55 | |
| | |
| | 851 | | | Deluxe Corp. | | | 35 | |
| | |
| | 833 | | | Healthcare Services Group, Inc. | | | 25 | |
| | |
| | 1,326 | | | Herman Miller, Inc. | | | 59 | |
| | |
| | 909 | | | HNI Corp. | | | 32 | |
| | |
| | 3,969 | | | IAA, Inc. (a) | | | 154 | |
| | |
| | 5,439 | | | KAR Auction Services, Inc. | | | 136 | |
| | |
| | 317 | | | MSA Safety, Inc. | | | 33 | |
| | |
| | 9,139 | | | Pitney Bowes, Inc. | | | 39 | |
| | |
| | 12,962 | | | Republic Services, Inc., Class – A | | | 1,123 | |
| | |
| | 4,273 | | | Rollins, Inc. | | | 153 | |
| | |
| | 2,916 | | | Steelcase, Inc., Class – A | | | 50 | |
| | |
| | 5,275 | | | Stericycle, Inc. (a) | | | 252 | |
| | |
| | 274 | | | Tetra Tech, Inc. | | | 22 | |
| | |
| | 1,520 | | | Waste Connections, Inc. | | | 145 | |
| | |
| | 14,793 | | | Waste Management, Inc. | | | 1,708 | |
| | | | | | | | |
| | | | | | | 5,548 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 0.56% | |
| | |
| | 3,249 | | | ADTRAN, Inc. | | | 50 | |
| | |
| | 809 | | | Arista Networks, Inc. (a) | | | 210 | |
| | |
| | 6,089 | | | Ciena Corp. (a) | | | 250 | |
| | |
| | 80,596 | | | Cisco Systems, Inc. | | | 4,412 | |
| | |
| | 9,667 | | | Commscope Holding, Inc. (a) | | | 152 | |
| | |
| | 2,353 | | | EchoStar Corp., Class – A (a) | | | 104 | |
| | |
| | 1,131 | | | F5 Networks, Inc. (a) | | | 165 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Communications Equipment (continued) | |
| | |
| | 20,518 | | | Juniper Networks, Inc. | | $ | 546 | |
| | |
| | 11,290 | | | Motorola Solutions, Inc. | | | 1,882 | |
| | |
| | 842 | | | NetScout Systems, Inc. (a) | | | 21 | |
| | |
| | 1,274 | | | Palo Alto Networks, Inc. (a) | | | 260 | |
| | |
| | 1,134 | | | Plantronics, Inc. | | | 42 | |
| | |
| | 479 | | | Ubiquiti Networks, Inc. | | | 63 | |
| | |
| | 2,097 | | | ViaSat, Inc. (a) | | | 169 | |
| | | | | | | | |
| | | | | | | 8,326 | |
| | | | | | | | |
| |
| | | | Construction & Engineering — 0.13% | |
| | |
| | 8,186 | | | AECOM Technology Corp. (a) | | | 310 | |
| | |
| | 732 | | | Arcosa, Inc. | | | 28 | |
| | |
| | 9,922 | | | Fluor Corp. | | | 334 | |
| | |
| | 8,405 | | | Jacobs Engineering Group, Inc. | | | 709 | |
| | |
| | 7,472 | | | KBR, Inc. | | | 186 | |
| | |
| | 7,530 | | | Quanta Services, Inc. | | | 288 | |
| | |
| | 1,878 | | | Tutor Perini Corp. (a) | | | 26 | |
| | |
| | 1,034 | | | Valmont Industries, Inc. | | | 131 | |
| | | | | | | | |
| | | | | | | 2,012 | |
| | | | | | | | |
| |
| | | | Construction Materials — 0.06% | |
| | |
| | 896 | | | Eagle Materials, Inc., Class – A | | | 83 | |
| | |
| | 2,296 | | | Martin Marietta Materials, Inc. | | | 528 | |
| | |
| | 2,149 | | | Vulcan Materials Co. | | | 295 | |
| | | | | | | | |
| | | | | | | 906 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 0.60% | |
| | |
| | 28,794 | | | Ally Financial, Inc. | | | 892 | |
| | |
| | 22,704 | | | American Express Co. | | | 2,804 | |
| | |
| | 25,014 | | | Capital One Financial Corp. | | | 2,270 | |
| | |
| | 265 | | | Credit Acceptance Corp. (a) | | | 128 | |
| | |
| | 13,699 | | | Discover Financial Services | | | 1,063 | |
| | |
| | 314 | | | FirstCash, Inc. | | | 31 | |
| | |
| | 17,931 | | | Navient Corp. | | | 245 | |
| | |
| | 360 | | | Nelnet, Inc., Class – A | | | 21 | |
| | |
| | 3,469 | | | OneMain Holdings, Inc. | | | 117 | |
| | |
| | 1,073 | | | PRA Group, Inc. (a) | | | 30 | |
| | |
| | 7,731 | | | Santander Consumer USA Holdings, Inc. | | | 185 | |
| | |
| | 20,328 | | | SLM Corp. | | | 198 | |
| | |
| | 27,296 | | | Synchrony Financial | | | 946 | |
| | |
| | 452 | | | World Acceptance Corp. (a) | | | 74 | |
| | | | | | | | |
| | | | | | | 9,004 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.33% | |
| | |
| | 3,663 | | | AptarGroup, Inc. | | | 455 | |
| | |
| | 891 | | | Ardagh Group SA | | | 16 | |
| | |
| | 2,214 | | | Avery Dennison Corp. | | | 256 | |
| | |
| | 6,926 | | | Ball Corp. | | | 485 | |
| | |
| | 5,094 | | | Berry Plastics Group, Inc. (a) | | | 268 | |
| | |
| | 5,735 | | | Crown Holdings, Inc. (a) | | | 350 | |
| | |
| | 17,908 | | | Graphic Packaging Holding Co. | | | 250 | |
| | |
| | 19,227 | | | International Paper Co. | | | 834 | |
| | |
| | 9,791 | | | Owens-Illinois, Inc. | | | 169 | |
| | |
| | 4,375 | | | Packaging Corporation of America | | | 417 | |
| | |
| | 7,915 | | | Sealed Air Corp. | | | 339 | |
| | |
| | 6,764 | | | Silgan Holdings | | | 207 | |
| | |
| | 7,504 | | | Sonoco Products Co. | | | 490 | |
| | |
| | 12,227 | | | WestRock Co. | | | 446 | |
| | | | | | | | |
| | | | | | | 4,982 | |
| | | | | | | | |
See accompanying notes to financial statements.
55
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Distributors — 0.11% | |
| | |
| | 1,773 | | | Core-Mark Holding Co., Inc. | | $ | 70 | |
| | |
| | 9,762 | | | Genuine Parts Co. | | | 1,011 | |
| | |
| | 13,632 | | | LKQ Corp. (a) | | | 363 | |
| | |
| | 1,273 | | | Pool Corp. | | | 243 | |
| | | | | | | | |
| | | | | | | 1,687 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 0.15% | |
| | |
| | 1,813 | | | Adtalem Global Education, Inc. (a) | | | 82 | |
| | |
| | 1,461 | | | Bright Horizons Family Solutions, Inc. (a) | | | 220 | |
| | |
| | 4,180 | | | Frontdoor, Inc. (a) | | | 182 | |
| | |
| | 401 | | | Graham Holdings Co. | | | 277 | |
| | |
| | 2,071 | | | Grand Canyon Education, Inc. (a) | | | 242 | |
| | |
| | 14,588 | | | H&R Block, Inc. | | | 428 | |
| | |
| | 3,068 | | | Houghton Mifflin Harcourt Co. (a) | | | 18 | |
| | |
| | 1,512 | | | Regis Corp. (a) | | | 25 | |
| | |
| | 8,501 | | | Service Corporation International | | | 398 | |
| | |
| | 7,245 | | | ServiceMaster Global Holdings, Inc. (a) | | | 377 | |
| | |
| | 728 | | | Sotheby’s (a) | | | 42 | |
| | | | | | | | |
| | | | | | | 2,291 | |
| | | | | | | | |
| |
| | | | Diversified Financial Services — 1.42% | |
| | |
| | 14,534 | | | AXA Equitable Holdings, Inc. | | | 304 | |
| | |
| | 94,126 | | | Berkshire Hathaway, Inc., Class – B (a) | | | 20,064 | |
| | |
| | 738 | | | Cannae Holdings, Inc. (a) | | | 21 | |
| | |
| | 12,932 | | | Jefferies Financial Group, Inc. | | | 249 | |
| | |
| | 10,141 | | | Voya Financial, Inc. | | | 561 | |
| | | | | | | | |
| | | | | | | 21,199 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 2.19% | |
| | |
| | 447,368 | | | AT&T, Inc. | | | 14,991 | |
| | |
| | 71,391 | | | CenturyLink, Inc. | | | 840 | |
| | |
| | 295,940 | | | Verizon Communications, Inc. | | | 16,906 | |
| | |
| | 3,207 | | | Zayo Group Holdings, Inc. (a) | | | 106 | |
| | | | | | | | |
| | | | | | | 32,843 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 1.89% | |
| | |
| | 341 | | | ALLETE, Inc. | | | 28 | |
| | |
| | 12,588 | | | Alliant Energy Corp. | | | 618 | |
| | |
| | 25,738 | | | American Electric Power, Inc. | | | 2,265 | |
| | |
| | 2,666 | | | Avangrid, Inc. | | | 135 | |
| | |
| | 37,910 | | | Duke Energy Corp. | | | 3,345 | |
| | |
| | 15,282 | | | Edison International | | | 1,030 | |
| | |
| | 11,458 | | | Entergy Corp. | | | 1,179 | |
| | |
| | 12,142 | | | Evergy, Inc. | | | 730 | |
| | |
| | 16,558 | | | Eversource Energy | | | 1,254 | |
| | |
| | 61,391 | | | Exelon Corp. | | | 2,943 | |
| | |
| | 28,968 | | | FirstEnergy Corp. | | | 1,240 | |
| | |
| | 7,393 | | | Hawaiian Electric Industries, Inc. | | | 322 | |
| | |
| | 1,973 | | | IDACORP, Inc. | | | 198 | |
| | |
| | 25,064 | | | NextEra Energy, Inc. | | | 5,136 | |
| | |
| | 11,112 | | | OGE Energy Corp. | | | 473 | |
| | |
| | 25,416 | | | PG&E Corp. (a) | | | 583 | |
| | |
| | 5,829 | | | Pinnacle West Capital Corp. | | | 548 | |
| | |
| | 590 | | | PNM Resources, Inc. | | | 30 | |
| | |
| | 567 | | | Portland General Electric Co. | | | 31 | |
| | |
| | 41,812 | | | PPL Corp. | | | 1,297 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Electric Utilities (continued) | |
| | |
| | 60,441 | | | The Southern Co. | | $ | 3,341 | |
| | |
| | 26,931 | | | Xcel Energy, Inc. | | | 1,602 | |
| | | | | | | | |
| | | | | | | 28,328 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.41% | |
| | |
| | 1,933 | | | Acuity Brands, Inc. | | | 267 | |
| | |
| | 6,106 | | | AMETEK, Inc. | | | 555 | |
| | |
| | 22,408 | | | Eaton Corp. PLC | | | 1,866 | |
| | |
| | 32,342 | | | Emerson Electric Co. | | | 2,157 | |
| | |
| | 411 | | | Encore Wire Corp. | | | 24 | |
| | |
| | 1,406 | | | Generac Holdings, Inc. (a) | | | 98 | |
| | |
| | 2,967 | | | GrafTech International Ltd. | | | 34 | |
| | |
| | 2,091 | | | Hubbell, Inc. | | | 273 | |
| | |
| | 7,547 | | | nVent Electric PLC | | | 187 | |
| | |
| | 2,042 | | | Regal-Beloit Corp. | | | 167 | |
| | |
| | 2,328 | | | Rockwell Automation, Inc. | | | 381 | |
| | |
| | 5,397 | | | Sensata Technologies Holding PLC (a) | | | 265 | |
| | | | | | | | |
| | | | | | | 6,274 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 0.47% | |
| | |
| | 4,114 | | | Amphenol Corp., Class – A | | | 395 | |
| | |
| | 852 | | | Anixter International, Inc. (a) | | | 51 | |
| | |
| | 5,426 | | | Arrow Electronics, Inc. (a) | | | 387 | |
| | |
| | 8,776 | | | Avnet, Inc. | | | 397 | |
| | |
| | 2,169 | | | Benchmark Electronics, Inc. | | | 54 | |
| | |
| | 4,086 | | | CDW Corporation of Delaware | | | 454 | |
| | |
| | 2,266 | | | Cognex Corp. | | | 109 | |
| | |
| | 1,136 | | | Coherent, Inc. (a) | | | 155 | |
| | |
| | 57,209 | | | Corning, Inc. | | | 1,901 | |
| | |
| | 3,611 | | | Dolby Laboratories, Inc., Class – A | | | 233 | |
| | |
| | 7,555 | | | FLIR Systems, Inc. | | | 409 | |
| | |
| | 1,091 | | | Insight Enterprises, Inc. (a) | | | 63 | |
| | |
| | 1,579 | | | IPG Photonics Corp. (a) | | | 244 | |
| | |
| | 8,572 | | | Jabil Circuit, Inc. | | | 271 | |
| | |
| | 3,600 | | | Keysight Technologies, Inc. (a) | | | 323 | |
| | |
| | 1,127 | | | Littelfuse, Inc. | | | 199 | |
| | |
| | 5,615 | | | National Instruments Corp. | | | 236 | |
| | |
| | 891 | | | Plexus Corp. (a) | | | 52 | |
| | |
| | 2,012 | | | Sanmina Corp. (a) | | | 61 | |
| | |
| | 718 | | | ScanSource, Inc. (a) | | | 23 | |
| | |
| | 1,709 | | | SYNNEX Corp. | | | 168 | |
| | |
| | 1,096 | | | Tech Data Corp. (a) | | | 115 | |
| | |
| | 11,612 | | | Trimble Navigation Ltd. (a) | | | 524 | |
| | |
| | 3,541 | | | Vishay Intertechnology, Inc. | | | 58 | |
| | |
| | 1,006 | | | Zebra Technologies Corp., Class – A (a) | | | 211 | |
| | | | | | | | |
| | | | | | | 7,093 | |
| | | | | | | | |
| |
| | | | Energy Equipment & Services — 0.39% | |
| | |
| | 4,002 | | | Apergy Corp. (a) | | | 134 | |
| | |
| | 2,058 | | | Archrock, Inc. Com | | | 22 | |
| | |
| | 26,603 | | | Baker Hughes, Inc. | | | 655 | |
| | |
| | 2,945 | | | Diamond Offshore Drilling, Inc. (a) | | | 26 | |
| | |
| | 1,815 | | | Dril-Quip, Inc. (a) | | | 87 | |
| | |
| | 2,504 | | | Ensco Rowan PLC, Class – A | | | 21 | |
| | |
| | 40,732 | | | Halliburton Co. | | | 926 | |
| | |
| | 2,481 | | | Helix Energy Solutions Group, Inc. (a) | | | 21 | |
| | |
| | 5,727 | | | Helmerich & Payne, Inc. | | | 290 | |
See accompanying notes to financial statements.
56
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Energy Equipment & Services (continued) | |
| | |
| | 18,069 | | | Nabors Industries Ltd. | | $ | 52 | |
| | |
| | 26,657 | | | National Oilwell Varco, Inc. | | | 593 | |
| | |
| | 6,018 | | | Oceaneering International, Inc. (a) | | | 123 | |
| | |
| | 2,747 | | | Oil States International, Inc. (a) | | | 50 | |
| | |
| | 13,421 | | | Patterson-UTI Energy, Inc. | | | 154 | |
| | |
| | 825 | | | RPC, Inc. | | | 6 | |
| | |
| | 67,234 | | | Schlumberger Ltd. | | | 2,673 | |
| | |
| | 30,558 | | | Transocean Ltd. (a) | | | 196 | |
| | | | | | | | |
| | | | | | | 6,029 | |
| | | | | | | | |
| |
| | | | Entertainment — 1.49% | |
| | |
| | 34,239 | | | Activision Blizzard, Inc. | | | 1,616 | |
| | |
| | 1,895 | | | AMC Entertainment Holdings, Inc., Class – A | | | 18 | |
| | |
| | 7,306 | | | Cinemark Holdings, Inc. | | | 264 | |
| | |
| | 5,275 | | | Electronic Arts, Inc. (a) | | | 534 | |
| | |
| | 1,319 | | | Liberty Media Group, Class – A (a) | | | 47 | |
| | |
| | 9,490 | | | Liberty Media Group, Class – C (a) | | | 355 | |
| | |
| | 2,570 | | | Lions Gate Entertainment Corp., Class – A | | | 31 | |
| | |
| | 5,804 | | | Lions Gate Entertainment Corp., Class – B | | | 68 | |
| | |
| | 2,763 | | | Live Nation Entertainment, Inc. (a) | | | 183 | |
| | |
| | 5,782 | | | Netflix, Inc. (a) | | | 2,124 | |
| | |
| | 3,600 | | | Take-Two Interactive Software, Inc. (a) | | | 409 | |
| | |
| | 994 | | | The Madison Square Garden Co., Class – A (a) | | | 278 | |
| | |
| | 107,968 | | | The Walt Disney Co. | | | 15,076 | |
| | |
| | 432 | | | Viacom, Inc., Class – A | | | 15 | |
| | |
| | 33,678 | | | Viacom, Inc., Class – B | | | 1,006 | |
| | |
| | 41,284 | | | Zynga, Inc. (a) | | | 253 | |
| | | | | | | | |
| | | | | | | 22,277 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 3.31% | |
| | |
| | 1,018 | | | Acadia Realty Trust | | | 28 | |
| | |
| | 6,595 | | | Alexandria Real Estate Equities, Inc. | | | 930 | |
| | |
| | 9,187 | | | American Campus Communities, Inc. | | | 424 | |
| | |
| | 13,106 | | | American Homes 4 Rent, Class – A | | | 319 | |
| | |
| | 9,290 | | | American Tower Corp. | | | 1,900 | |
| | |
| | 9,798 | | | Apartment Investment & Management Co. | | | 491 | |
| | |
| | 14,555 | | | Apple Hospitality REIT, Inc. | | | 231 | |
| | |
| | 8,334 | | | AvalonBay Communities, Inc. | | | 1,693 | |
| | |
| | 9,409 | | | Boston Properties, Inc. | | | 1,214 | |
| | |
| | 10,739 | | | Brandywine Realty Trust | | | 154 | |
| | |
| | 21,732 | | | Brixmor Property Group, Inc. | | | 389 | |
| | |
| | 1,828 | | | Brookfield Property REIT, Inc., Class – A | | | 35 | |
| | |
| | 6,074 | | | Camden Property Trust | | | 634 | |
| | |
| | 32,035 | | | Colony Capital, Inc. | | | 160 | |
| | |
| | 8,836 | | | Columbia Property Trust, Inc. | | | 183 | |
| | |
| | 2,846 | | | CoreCivic, Inc. | | | 59 | |
| | |
| | 769 | | | Coresite Realty Corp. | | | 89 | |
| | |
| | 6,352 | | | Corporate Office Properties Trust | | | 168 | |
| | |
| | 4,813 | | | Cousins Properties, Inc. | | | 174 | |
| | |
| | 9,391 | | | Crown Castle International Corp. | | | 1,224 | |
| | |
| | 11,578 | | | CubeSmart | | | 387 | |
| | |
| | 5,953 | | | CyrusOne, Inc. | | | 344 | |
| | |
| | 11,988 | | | Digital Realty Trust, Inc. | | | 1,412 | |
| | |
| | 9,465 | | | Douglas Emmett, Inc. | | | 377 | |
| | |
| | 23,291 | | | Duke Realty Corp. | | | 736 | |
| | |
| | 314 | | | EastGroup Properties, Inc. | | | 36 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 6,939 | | | Empire State Realty Trust, Inc., Class – A | | $ | 103 | |
| | |
| | 4,706 | | | EPR Properties | | | 351 | |
| | |
| | 1,695 | | | Equinix, Inc. | | | 855 | |
| | |
| | 8,573 | | | Equity Commonwealth | | | 279 | |
| | |
| | 2,136 | | | Equity Lifestyle Properties, Inc. | | | 259 | |
| | |
| | 25,188 | | | Equity Residential | | | 1,913 | |
| | |
| | 3,797 | | | Essex Property Trust, Inc. | | | 1,108 | |
| | |
| | 4,010 | | | Extra Space Storage, Inc. | | | 425 | |
| | |
| | 4,627 | | | Federal Realty Investment Trust | | | 596 | |
| | |
| | 1,090 | | | First Industrial Realty Trust, Inc. | | | 40 | |
| | |
| | 11,852 | | | Gaming & Leisure Properties, Inc. | | | 462 | |
| | |
| | 31,236 | | | HCP, Inc. | | | 999 | |
| | |
| | 1,918 | | | Healthcare Realty Trust, Inc. | | | 60 | |
| | |
| | 12,587 | | | Healthcare Trust of America, Inc., Class – A | | | 345 | |
| | |
| | 6,324 | | | Highwoods Properties, Inc. | | | 261 | |
| | |
| | 11,495 | | | Hospitality Properties Trust | | | 287 | |
| | |
| | 35,643 | | | Host Hotels & Resorts, Inc. | | | 649 | |
| | |
| | 9,104 | | | Hudson Pacific Property, Inc. | | | 303 | |
| | |
| | 22,407 | | | Invitation Homes, Inc. | | | 599 | |
| | |
| | 16,191 | | | Iron Mountain, Inc. | | | 507 | |
| | |
| | 6,460 | | | JBG SMITH Properties | | | 254 | |
| | |
| | 5,999 | | | Kilroy Realty Corp. | | | 443 | |
| | |
| | 27,190 | | | Kimco Realty Corp. | | | 502 | |
| | |
| | 2,784 | | | Kite Realty Group Trust | | | 42 | |
| | |
| | 3,273 | | | Lamar Advertising Co., Class – A | | | 264 | |
| | |
| | 6,970 | | | Lexington Realty Trust | | | 66 | |
| | |
| | 10,188 | | | Liberty Property Trust | | | 510 | |
| | |
| | 2,809 | | | Life Storage, Inc. | | | 267 | |
| | |
| | 2,575 | | | Mack-Cali Realty Corp. | | | 60 | |
| | |
| | 24,839 | | | Medical Properties Trust, Inc. | | | 433 | |
| | |
| | 1,009 | | | MGM Growth Properties LLC, Class – A | | | 31 | |
| | |
| | 6,305 | | | Mid-America Apartment Communities, Inc. | | | 742 | |
| | |
| | 724 | | | National Health Investors, Inc. | | | 56 | |
| | |
| | 10,346 | | | National Retail Properties, Inc. | | | 548 | |
| | |
| | 14,446 | | | OMEGA Healthcare Investors, Inc. | | | 531 | |
| | |
| | 11,107 | | | Outfront Media, Inc. | | | 286 | |
| | |
| | 14,591 | | | Paramount Group, Inc. | | | 204 | |
| | |
| | 13,345 | | | Parks Hotels & Resorts, Inc. | | | 368 | |
| | |
| | 2,758 | | | Physicians Realty Trust | | | 48 | |
| | |
| | 4,734 | | | Piedmont Office Realty Trust, Inc., Class – A | | | 94 | |
| | |
| | 36,364 | | | Prologis, Inc. | | | 2,914 | |
| | |
| | 470 | | | PS Business Parks, Inc. | | | 79 | |
| | |
| | 5,062 | | | Public Storage | | | 1,206 | |
| | |
| | 8,118 | | | Rayonier, Inc. | | | 246 | |
| | |
| | 17,974 | | | Realty Income Corp. | | | 1,240 | |
| | |
| | 9,994 | | | Regency Centers Corp. | | | 667 | |
| | |
| | 1,583 | | | Retail Opportunity Investments Corp. | | | 27 | |
| | |
| | 16,358 | | | Retail Properties of America, Inc., Class – A | | | 192 | |
| | |
| | 108 | | | Retail Value, Inc. | | | 4 | |
| | |
| | 1,307 | | | RLJ Lodging Trust | | | 23 | |
| | |
| | 518 | | | Ryman Hospitality Properties, Inc. | | | 42 | |
| | |
| | 2,982 | | | Sabra Healthcare REIT, Inc. | | | 59 | |
| | |
| | 2,252 | | | SBA Communications Corp. (a) | | | 506 | |
| | |
| | 13,671 | | | Senior Housing Properties Trust | | | 113 | |
| | |
| | 9,119 | | | Simon Property Group, Inc. | | | 1,457 | |
See accompanying notes to financial statements.
57
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 13,284 | | | SITE Centers Corp. | | $ | 176 | |
| | |
| | 4,951 | | | SL Green Realty Corp. | | | 398 | |
| | |
| | 6,285 | | | Spirit Realty Capital, Inc. | | | 268 | |
| | |
| | 1,060 | | | STAG Industrial, Inc. | | | 32 | |
| | |
| | 12,789 | | | Store Capital Corp. | | | 424 | |
| | |
| | 4,538 | | | Sun Communities, Inc. | | | 582 | |
| | |
| | 1,794 | | | Tanger Factory Outlet Centers, Inc. | | | 29 | |
| | |
| | 3,763 | | | Taubman Centers, Inc. | | | 154 | |
| | |
| | 8,723 | | | The Macerich Co. | | | 292 | |
| | |
| | 17,617 | | | UDR, Inc. | | | 791 | |
| | |
| | 2,237 | | | Uniti Group, Inc. | | | 21 | |
| | |
| | 23,231 | | | Ventas, Inc. | | | 1,588 | |
| | |
| | 67,482 | | | VEREIT, Inc. | | | 608 | |
| | |
| | 23,882 | | | VICI Properties, Inc. | | | 526 | |
| | |
| | 10,109 | | | Vornado Realty Trust | | | 648 | |
| | |
| | 11,034 | | | Washington Prime Group, Inc. | | | 42 | |
| | |
| | 1,280 | | | Washington Real Estate Investment Trust | | | 34 | |
| | |
| | 7,714 | | | Weingarten Realty Investors | | | 212 | |
| | |
| | 25,646 | | | Welltower, Inc. | | | 2,092 | |
| | |
| | 39,152 | | | Weyerhaeuser Co. | | | 1,031 | |
| | |
| | 10,461 | | | WP Carey, Inc. | | | 849 | |
| | |
| | 2,747 | | | Xenia Hotels & Resorts, Inc. | | | 57 | |
| | | | | | | | |
| | | | | | | 49,570 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 1.56% | |
| | |
| | 2,937 | | | Casey’s General Stores, Inc. | | | 458 | |
| | |
| | 15,723 | | | Costco Wholesale Corp. | | | 4,156 | |
| | |
| | 2,829 | | | Performance Food Group Co. (a) | | | 113 | |
| | |
| | 6,404 | | | Sprouts Farmers Market, Inc. (a) | | | 121 | |
| | |
| | 18,825 | | | Sysco Corp. | | | 1,331 | |
| | |
| | 776 | | | The Andersons, Inc. | | | 21 | |
| | |
| | 83,809 | | | The Kroger Co. | | | 1,819 | |
| | |
| | 3,083 | | | United Natural Foods, Inc. (a) | | | 28 | |
| | |
| | 14,207 | | | US Foods Holding Corp. (a) | | | 508 | |
| | |
| | 40,470 | | | Walgreens Boots Alliance, Inc. | | | 2,212 | |
| | |
| | 113,773 | | | Wal-Mart Stores, Inc. | | | 12,572 | |
| | |
| | 562 | | | Weis Markets, Inc. | | | 20 | |
| | | | | | | | |
| | | | | | | 23,359 | |
| | | | | | | | |
| |
| | | | Food Products — 1.25% | |
| | |
| | 43,066 | | | Archer-Daniels-Midland Co. | | | 1,757 | |
| | |
| | 1,660 | | | B&G Foods, Inc., Class – A | | | 35 | |
| | |
| | 320 | | | Beyond Meat, Inc. | | | 51 | |
| | |
| | 16,076 | | | Bunge Ltd. | | | 896 | |
| | |
| | 1,355 | | | Cal-Maine Foods, Inc. | | | 57 | |
| | |
| | 8,260 | | | Campbell Soup Co. | | | 331 | |
| | |
| | 28,291 | | | ConAgra Foods, Inc. | | | 750 | |
| | |
| | 1,119 | | | Darling Ingredients, Inc. (a) | | | 22 | |
| | |
| | 13,947 | | | Flowers Foods, Inc. | | | 325 | |
| | |
| | 1,719 | | | Fresh Del Monte Produce, Inc. | | | 46 | |
| | |
| | 43,002 | | | General Mills, Inc. | | | 2,258 | |
| | |
| | 5,013 | | | Hershey Co. | | | 672 | |
| | |
| | 17,917 | | | Hormel Foods Corp. | | | 726 | |
| | |
| | 4,076 | | | Ingredion, Inc. | | | 336 | |
| | |
| | 198 | | | J&J Snack Foods Corp. | | | 32 | |
| | |
| | 13,050 | | | Kellogg Co. | | | 699 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Food Products (continued) | |
| | |
| | 7,058 | | | Lamb Weston Holding, Inc. | | $ | 447 | |
| | |
| | 652 | | | Lancaster Colony Corp. | | | 97 | |
| | |
| | 5,427 | | | McCormick & Company, Inc. | | | 841 | |
| | |
| | 74,973 | | | Mondelez International, Inc., Class – A | | | 4,041 | |
| | |
| | 1,013 | | | Nomad Foods Ltd. (a) | | | 22 | |
| | |
| | 2,981 | | | Pilgrim’s Pride Corp. (a) | | | 76 | |
| | |
| | 2,567 | | | Post Holdings, Inc. (a) | | | 267 | |
| | |
| | 1,405 | | | Sanderson Farms, Inc. | | | 192 | |
| | |
| | 14 | | | Seaboard Corp. | | | 58 | |
| | |
| | 4,526 | | | The Hain Celestial Group, Inc. (a) | | | 99 | |
| | |
| | 7,779 | | | The J.M. Smucker Co. | | | 896 | |
| | |
| | 29,729 | | | The Kraft Heinz Co. | | | 923 | |
| | |
| | 3,913 | | | TreeHouse Foods, Inc. (a) | | | 212 | |
| | |
| | 19,946 | | | Tyson Foods, Inc., Class – A | | | 1,610 | |
| | | | | | | | |
| | | | | | | 18,774 | |
| | | | | | | | |
| |
| | | | Gas Utilities — 0.10% | |
| | |
| | 6,459 | | | Atmos Energy Corp. | | | 681 | |
| | |
| | 4,506 | | | National Fuel Gas Co. | | | 238 | |
| | |
| | 560 | | | New Jersey Resources Corp. | | | 28 | |
| | |
| | 327 | | | One Gas, Inc. | | | 30 | |
| | |
| | 244 | | | Southwest Gas Corp. | | | 22 | |
| | |
| | 251 | | | Spire, Inc. | | | 21 | |
| | |
| | 8,483 | | | UGI Corp. | | | 453 | |
| | | | | | | | |
| | | | | | | 1,473 | |
| | | | | | | | |
| |
| | | | Health Care Equipment & Supplies — 2.23% | |
| | |
| | 66,171 | | | Abbott Laboratories | | | 5,565 | |
| | |
| | 580 | | | Abiomed, Inc. (a) | | | 151 | |
| | |
| | 1,081 | | | Align Technology, Inc. (a) | | | 296 | |
| | |
| | 22,304 | | | Baxter International, Inc. | | | 1,827 | |
| | |
| | 13,505 | | | Becton, Dickinson & Co. | | | 3,403 | |
| | |
| | 24,416 | | | Boston Scientific Corp. (a) | | | 1,049 | |
| | |
| | 1,036 | | | Cantel Medical Corp. | | | 84 | |
| | |
| | 36,281 | | | Danaher Corp. | | | 5,185 | |
| | |
| | 12,696 | | | Dentsply Sirona, Inc. | | | 741 | |
| | |
| | 1,196 | | | Dexcom, Inc. (a) | | | 179 | |
| | |
| | 2,920 | | | Edwards Lifesciences Corp. (a) | | | 539 | |
| | |
| | 2,255 | | | Hill-Rom Holdings, Inc. | | | 236 | |
| | |
| | 7,618 | | | Hologic, Inc. (a) | | | 366 | |
| | |
| | 657 | | | ICU Medical, Inc. (a) | | | 166 | |
| | |
| | 1,171 | | | IDEXX Laboratories, Inc. (a) | | | 322 | |
| | |
| | 800 | | | Insulet Corp. (a) | | | 96 | |
| | |
| | 3,336 | | | Integra LifeSciences Holdings Corp. (a) | | | 186 | |
| | |
| | 1,980 | | | Intuitive Surgical, Inc. (a) | | | 1,039 | |
| | |
| | 1,176 | | | Masimo Corp. (a) | | | 175 | |
| | |
| | 65,143 | | | Medtronic PLC | | | 6,344 | |
| | |
| | 421 | | | Penumbra, Inc. (a) | | | 67 | |
| | |
| | 3,727 | | | ResMed, Inc. | | | 455 | |
| | |
| | 3,885 | | | STERIS PLC | | | 578 | |
| | |
| | 6,993 | | | Stryker Corp. | | | 1,438 | |
| | |
| | 858 | | | Teleflex, Inc. | | | 284 | |
| | |
| | 2,713 | | | The Cooper Companies, Inc. | | | 914 | |
| | |
| | 1,493 | | | Varian Medical Systems, Inc. (a) | | | 203 | |
| | |
| | 2,026 | | | West Pharmaceutical Services, Inc. | | | 254 | |
| | |
| | 10,746 | | | Zimmer Holdings, Inc. | | | 1,265 | |
| | | | | | | | |
| | | | | | | 33,407 | |
| | | | | | | | |
See accompanying notes to financial statements.
58
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Providers & Services — 1.83% | |
| | |
| | 4,132 | | | Acadia Healthcare Company, Inc. (a) | | $ | 144 | |
| | |
| | 3,077 | | | AmerisourceBergen Corp. | | | 262 | |
| | |
| | 14,302 | | | Anthem, Inc. | | | 4,036 | |
| | |
| | 6,737 | | | Brookdale Senior Living, Inc. (a) | | | 49 | |
| | |
| | 19,525 | | | Cardinal Health, Inc. | | | 920 | |
| | |
| | 7,822 | | | Centene Corp. (a) | | | 410 | |
| | |
| | 599 | | | Chemed Corp. | | | 216 | |
| | |
| | 14,596 | | | Cigna Corp. | | | 2,300 | |
| | |
| | 4,129 | | | Covetrus, Inc. (a) | | | 101 | |
| | |
| | 111,166 | | | CVS Caremark Corp. | | | 6,057 | |
| | |
| | 8,075 | | | DaVita Healthcare Partners, Inc. (a) | | | 454 | |
| | |
| | 3,949 | | | Encompass Health Corp. | | | 250 | |
| | |
| | 11,994 | | | HCA Holdings, Inc. | | | 1,621 | |
| | |
| | 9,534 | | | Henry Schein, Inc. (a) | | | 666 | |
| | |
| | 6,572 | | | Humana, Inc. | | | 1,744 | |
| | |
| | 5,405 | | | Laboratory Corporation of America Holdings (a) | | | 935 | |
| | |
| | 1,167 | | | Magellan Health Services, Inc. (a) | | | 87 | |
| | |
| | 9,827 | | | McKesson Corp. | | | 1,321 | |
| | |
| | 6,021 | | | MEDNAX, Inc. (a) | | | 152 | |
| | |
| | 1,539 | | | Molina Heathcare, Inc. (a) | | | 220 | |
| | |
| | 2,938 | | | Patterson Companies, Inc. | | | 67 | |
| | |
| | 3,550 | | | Premier, Inc., Class – A (a) | | | 139 | |
| | |
| | 8,659 | | | Quest Diagnostics, Inc. | | | 882 | |
| | |
| | 2,776 | | | Select Medical Holdings Corp. (a) | | | 44 | |
| | |
| | 8,864 | | | Tenet Healthcare Corp. (a) | | | 183 | |
| | |
| | 13,312 | | | UnitedHealth Group, Inc. | | | 3,248 | |
| | |
| | 4,262 | | | Universal Health Services, Inc., Class – B | | | 556 | |
| | |
| | 1,111 | | | WellCare Health Plans, Inc. (a) | | | 317 | |
| | | | | | | | |
| | | | | | | 27,381 | |
| | | | | | | | |
| |
| | | | Health Care Technology — 0.05% | |
| | |
| | 5,940 | | | Cerner Corp. | | | 435 | |
| | |
| | 1,720 | | | Veeva Systems, Inc. (a) | | | 279 | |
| | | | | | | | |
| | | | | | | 714 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 1.71% | |
| | |
| | 14,433 | | | Aramark | | | 520 | |
| | |
| | 2,713 | | | Bloomin’ Brands, Inc. | | | 51 | |
| | |
| | 5,670 | | | Brinker International, Inc. | | | 223 | |
| | |
| | 27,406 | | | Caesars Entertainment Corp. (a) | | | 324 | |
| | |
| | 19,153 | | | Carnival Corp., Class – A | | | 891 | |
| | |
| | 951 | | | Chipotle Mexican Grill, Inc. (a) | | | 697 | |
| | |
| | 1,096 | | | Choice Hotels International, Inc. | | | 95 | |
| | |
| | 381 | | | Churchill Downs, Inc. | | | 44 | |
| | |
| | 879 | | | Cracker Barrel Old Country Store, Inc. | | | 150 | |
| | |
| | 4,148 | | | Darden Restaurants, Inc. | | | 505 | |
| | |
| | 1,272 | | | Domino’s Pizza, Inc. | | | 354 | |
| | |
| | 2,742 | | | Dunkin’ Brands Group, Inc. | | | 218 | |
| | |
| | 11,726 | | | Extended Stay America, Inc. | | | 198 | |
| | |
| | 3,949 | | | Hilton Grand Vacations (a) | | | 126 | |
| | |
| | 5,352 | | | Hilton Worldwide Holdings, Inc. | | | 523 | |
| | |
| | 1,908 | | | Hyatt Hotels Corp., Class – A | | | 145 | |
| | |
| | 4,519 | | | International Game Technology PLC | | | 59 | |
| | |
| | 1,145 | | | Jack in the Box, Inc. | | | 93 | |
| | |
| | 14,101 | | | Las Vegas Sands Corp. | | | 833 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hotels, Restaurants & Leisure (continued) | |
| | |
| | 4,163 | | | Marriott International, Inc., Class – A | | $ | 584 | |
| | |
| | 374 | | | Marriott Vacations Worldwide Corp. | | | 36 | |
| | |
| | 50,256 | | | McDonald’s Corp. | | | 10,437 | |
| | |
| | 23,234 | | | MGM Resorts International | | | 664 | |
| | |
| | 9,760 | | | Norwegian Cruise Line Holdings Ltd. (a) | | | 523 | |
| | |
| | 8,829 | | | Royal Caribbean Cruises Ltd. | | | 1,070 | |
| | |
| | 5,370 | | | SeaWorld Entertainment, Inc. (a) | | | 166 | |
| | |
| | 5,486 | | | Six Flags Entertainment Corp. | | | 273 | |
| | |
| | 33,616 | | | Starbucks Corp. | | | 2,819 | |
| | |
| | 451 | | | Texas Roadhouse, Inc., Class – A | | | 24 | |
| | |
| | 3,111 | | | The Cheesecake Factory, Inc. | | | 136 | |
| | |
| | 15,781 | | | The Wendy’s Co. | | | 309 | |
| | |
| | 896 | | | Vail Resorts, Inc. | | | 200 | |
| | |
| | 3,566 | | | Wyndham Hotels & Resorts, Inc. | | | 199 | |
| | |
| | 5,846 | | | Wyndham Worldwide Corp. | | | 257 | |
| | |
| | 2,169 | | | Wynn Resorts Ltd. | | | 269 | |
| | |
| | 8,182 | | | Yum China Holdings, Inc. | | | 378 | |
| | |
| | 11,823 | | | YUM! Brands, Inc. | | | 1,308 | |
| | | | | | | | |
| | | | | | | 25,701 | |
| | | | | | | | |
| |
| | | | Household Durables — 0.30% | |
| | |
| | 16,111 | | | D.R. Horton, Inc. | | | 696 | |
| | |
| | 6,508 | | | Garmin Ltd. | | | 519 | |
| | |
| | 1,766 | | | La-Z-Boy, Inc. | | | 54 | |
| | |
| | 9,001 | | | Leggett & Platt, Inc. | | | 345 | |
| | |
| | 9,529 | | | Lennar Corp., Class – A | | | 462 | |
| | |
| | 382 | | | Lennar Corp., Class – B | | | 15 | |
| | |
| | 1,997 | | | MDC Holdings, Inc. | | | 65 | |
| | |
| | 1,017 | | | Meritage Homes Corp. (a) | | | 52 | |
| | |
| | 2,914 | | | Mohawk Industries, Inc. (a) | | | 430 | |
| | |
| | 19,243 | | | Newell Rubbermaid, Inc. | | | 297 | |
| | |
| | 109 | | | NVR, Inc. (a) | | | 367 | |
| | |
| | 14,482 | | | PulteGroup, Inc. | | | 458 | |
| | |
| | 1,161 | | | Tempur Sealy International, Inc. (a) | | | 85 | |
| | |
| | 6,452 | | | Toll Brothers, Inc. | | | 236 | |
| | |
| | 1,337 | | | Tupperware Brands Corp. | | | 25 | |
| | |
| | 3,550 | | | Whirlpool Corp. | | | 506 | |
| | | | | | | | |
| | | | | | | 4,612 | |
| | | | | | | | |
| |
| | | | Household Products — 1.75% | |
| | |
| | 8,719 | | | Church & Dwight Co., Inc. | | | 637 | |
| | |
| | 55,977 | | | Colgate-Palmolive Co. | | | 4,012 | |
| | |
| | 2,936 | | | Energizer Holdings, Inc. | | | 113 | |
| | |
| | 22,255 | | | Kimberly-Clark Corp. | | | 2,966 | |
| | |
| | 1,733 | | | Spectrum Brands Holdings, Inc. | | | 93 | |
| | |
| | 4,383 | | | The Clorox Co. | | | 671 | |
| | |
| | 161,549 | | | The Procter & Gamble Co. | | | 17,715 | |
| | | | | | | | |
| | | | | | | 26,207 | |
| | | | | | | | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.14% | |
| | |
| | 14,705 | | | NRG Energy, Inc., Class – C | | | 516 | |
| | |
| | 58,175 | | | The AES Corp. | | | 975 | |
| | |
| | 28,959 | | | Vistra Energy Corp. (a) | | | 656 | |
| | | | | | | | |
| | | | | | | 2,147 | |
| | | | | | | | |
| |
| | | | Industrial Conglomerates — 0.94% | |
| | |
| | 18,316 | | | 3M Co. | | | 3,175 | |
| | |
| | 1,591 | | | Carlisle Companies, Inc. | | | 223 | |
| | |
| | 418,074 | | | General Electric Co. | | | 4,390 | |
See accompanying notes to financial statements.
59
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Industrial Conglomerates (continued) | |
| | |
| | 25,804 | | | Honeywell International, Inc. | | $ | 4,505 | |
| | |
| | 4,780 | | | Roper Industries, Inc. | | | 1,751 | |
| | | | | | | | |
| | | | | | | 14,044 | |
| | | | | | | | |
| |
| | | | Insurance — 2.86% | |
| | |
| | 52,061 | | | Aflac, Inc. | | | 2,853 | |
| | |
| | 898 | | | Alleghany Corp. (a) | | | 612 | |
| | |
| | 24,540 | | | Allstate Corp. | | | 2,495 | |
| | |
| | 1,399 | | | Ambac Financial Group, Inc. (a) | | | 24 | |
| | |
| | 4,262 | | | American Financial Group, Inc. | | | 437 | |
| | |
| | 63,346 | | | American International Group, Inc. | | | 3,375 | |
| | |
| | 718 | | | American National Insurance Co. | | | 84 | |
| | |
| | 5,418 | | | Aon PLC | | | 1,046 | |
| | |
| | 16,684 | | | Arch Capital Group Ltd. (a) | | | 618 | |
| | |
| | 9,832 | | | Arthur J. Gallagher & Co. | | | 861 | |
| | |
| | 4,495 | | | Assurant, Inc. | | | 478 | |
| | |
| | 5,123 | | | Assured Guaranty Ltd. | | | 216 | |
| | |
| | 5,547 | | | Athene Holding Ltd. (a) | | | 239 | |
| | |
| | 3,584 | | | AXIS Capital Holdings Ltd. | | | 214 | |
| | |
| | 6,777 | | | Brighthouse Financial, Inc. (a) | | | 249 | |
| | |
| | 14,885 | | | Brown & Brown, Inc. | | | 499 | |
| | |
| | 28,619 | | | Chubb Ltd. | | | 4,216 | |
| | |
| | 9,941 | | | Cincinnati Financial Corp. | | | 1,031 | |
| | |
| | 1,376 | | | CNA Financial Corp. | | | 65 | |
| | |
| | 3,314 | | | CNO Financial Group, Inc. | | | 55 | |
| | |
| | 1,097 | | | Erie Indemnity Co., Class – A | | | 279 | |
| | |
| | 1,511 | | | Everest Re Group Ltd. | | | 372 | |
| | |
| | 7,088 | | | First American Financial Corp. | | | 381 | |
| | |
| | 15,531 | | | FNF Group | | | 626 | |
| | |
| | 21,244 | | | Genworth Financial, Inc., Class – A (a) | | | 79 | |
| | |
| | 2,861 | | | Hanover Insurance Group, Inc. | | | 367 | |
| | |
| | 18,582 | | | Hartford Financial Services Group, Inc. | | | 1,035 | |
| | |
| | 3,019 | | | Kemper Corp. | | | 261 | |
| | |
| | 10,928 | | | Lincoln National Corp. | | | 704 | |
| | |
| | 19,503 | | | Loews Corp. | | | 1,066 | |
| | |
| | 729 | | | Markel Corp. (a) | | | 794 | |
| | |
| | 18,911 | | | Marsh & McLennan Companies, Inc. | | | 1,886 | |
| | |
| | 4,878 | | | MBIA, Inc. (a) | | | 45 | |
| | |
| | 2,464 | | | Mercury General Corp. | | | 154 | |
| | |
| | 43,840 | | | MetLife, Inc. | | | 2,178 | |
| | |
| | 17,158 | | | Old Republic International Corp. | | | 384 | |
| | |
| | 659 | | | Primerica, Inc. | | | 79 | |
| | |
| | 14,484 | | | Principal Financial Group, Inc. | | | 839 | |
| | |
| | 1,754 | | | ProAssurance Corp. | | | 63 | |
| | |
| | 21,251 | | | Prudential Financial, Inc. | | | 2,146 | |
| | |
| | 3,210 | | | Reinsurance Group of America | | | 501 | |
| | |
| | 1,495 | | | RenaissanceRe Holdings Ltd. | | | 266 | |
| | |
| | 304 | | | RLI Corp. | | | 26 | |
| | |
| | 422 | | | Selective Insurance Group, Inc. | | | 32 | |
| | |
| | 652 | | | Stewart Information Services Corp. | | | 26 | |
| | |
| | 30,419 | | | The Progressive Corp. | | | 2,431 | |
| | |
| | 20,838 | | | The Travelers Companies, Inc. | | | 3,116 | |
| | |
| | 5,398 | | | Torchmark Corp. | | | 483 | |
| | |
| | 10,079 | | | Unum Group | | | 338 | |
| | |
| | 9,476 | | | W.R. Berkley Corp. | | | 625 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Insurance (continued) | |
| | |
| | 218 | | | White Mountains Insurance Group Ltd. | | $ | 223 | |
| | |
| | 7,210 | | | Willis Towers Watson PLC | | | 1,381 | |
| | | | | | | | |
| | | | | | | 42,853 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 1.13% | |
| | |
| | 4,158 | | | Alphabet, Inc., Class – A (a) | | | 4,502 | |
| | |
| | 4,238 | | | Alphabet, Inc., Class – C (a) | | | 4,581 | |
| | |
| | 1,559 | | | Cars.com, Inc. (a) | | | 31 | |
| | |
| | 33,084 | | | Facebook, Inc., Class – A (a) | | | 6,385 | |
| | |
| | 2,463 | | | InterActive Corp. (a) | | | 536 | |
| | |
| | 699 | | | Match Group, Inc. | | | 47 | |
| | |
| | 1,775 | | | TripAdvisor, Inc. (a) | | | 82 | |
| | |
| | 10,004 | | | Twitter, Inc. (a) | | | 349 | |
| | |
| | 2,628 | | | Zillow Group, Inc., Class – A (a) | | | 120 | |
| | |
| | 5,789 | | | Zillow Group, Inc., Class – C (a) | | | 269 | |
| | | | | | | | |
| | | | | | | 16,902 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 0.90% | |
| | |
| | 5,722 | | | Amazon.com, Inc. (a) | | | 10,835 | |
| | |
| | 680 | | | Booking Holdings, Inc. (a) | | | 1,275 | |
| | |
| | 14,841 | | | eBay, Inc. | | | 586 | |
| | |
| | 2,078 | | | Expedia, Inc. | | | 276 | |
| | |
| | 1,225 | | | GrubHub, Inc. (a) | | | 96 | |
| | |
| | 23,013 | | | Qurate Retail, Inc. (a) | | | 285 | |
| | |
| | 778 | | | Wayfair, Inc., Class – A (a) | | | 114 | |
| | | | | | | | |
| | | | | | | 13,467 | |
| | | | | | | | |
| |
| | | | IT Services — 2.65% | |
| | |
| | 11,529 | | | Accenture PLC, Class – A | | | 2,130 | |
| | |
| | 2,639 | | | Akamai Technologies, Inc. (a) | | | 211 | |
| | |
| | 2,225 | | | Alliance Data Systems Corp. | | | 312 | |
| | |
| | 8,745 | | | Amdocs Ltd. | | | 543 | |
| | |
| | 8,504 | | | Automatic Data Processing, Inc. | | | 1,406 | |
| | |
| | 1,928 | | | Black Knight, Inc. (a) | | | 116 | |
| | |
| | 7,621 | | | Booz Allen Hamilton Holding Corp. | | | 505 | |
| | |
| | 2,591 | | | Broadridge Financial Solutions, Inc. | | | 331 | |
| | |
| | 1,715 | | | CACI International, Inc., Class – A (a) | | | 351 | |
| | |
| | 25,462 | | | Cognizant Technology Solutions Corp. | | | 1,614 | |
| | |
| | 8,523 | | | Conduent, Inc. (a) | | | 82 | |
| | |
| | 3,666 | | | CoreLogic, Inc. (a) | | | 153 | |
| | |
| | 13,042 | | | DXC Technology Co. | | | 719 | |
| | |
| | 933 | | | EPAM Systems, Inc. (a) | | | 162 | |
| | |
| | 992 | | | Euronet Worldwide, Inc. (a) | | | 167 | |
| | |
| | 11,640 | | | Fidelity National Information Services, Inc. | | | 1,428 | |
| | |
| | 10,075 | | | First Data Corp. (a) | | | 273 | |
| | |
| | 9,367 | | | Fiserv, Inc. (a) | | | 854 | |
| | |
| | 1,613 | | | FleetCor Technologies, Inc. (a) | | | 453 | |
| | |
| | 2,139 | | | Gartner Group, Inc. (a) | | | 344 | |
| | |
| | 7,421 | | | Genpact Ltd. | | | 283 | |
| | |
| | 3,114 | | | Global Payments, Inc. | | | 499 | |
| | |
| | 2,326 | | | GoDaddy, Inc., Class – A (a) | | | 163 | |
| | |
| | 49,892 | | | International Business Machines Corp. | | | 6,881 | |
| | |
| | 2,975 | | | Jack Henry & Associates, Inc. | | | 398 | |
| | |
| | 7,127 | | | Leidos Holdings, Inc. | | | 569 | |
| | |
| | 812 | | | ManTech International Corp., Class – A | | | 53 | |
| | |
| | 19,299 | | | MasterCard, Inc., Class – A | | | 5,105 | |
| | |
| | 310 | | | MAXIMUS, Inc. | | | 22 | |
| | |
| | 1,180 | | | Okta, Inc. (a) | | | 146 | |
See accompanying notes to financial statements.
60
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | IT Services (continued) | |
| | |
| | 9,557 | | | Paychex, Inc. | | $ | 786 | |
| | |
| | 20,913 | | | PayPal Holdings, Inc. (a) | | | 2,394 | |
| | |
| | 13,217 | | | Sabre Corp. | | | 293 | |
| | |
| | 691 | | | Science Applications International Corp. | | | 60 | |
| | |
| | 4,095 | | | Square, Inc., Class – A (a) | | | 297 | |
| | |
| | 260 | | | Switch, Inc., Class – A | | | 3 | |
| | |
| | 730 | | | Sykes Enterprises, Inc. (a) | | | 20 | |
| | |
| | 3,068 | | | Teradata Corp. (a) | | | 110 | |
| | |
| | 3,842 | | | Total System Services, Inc. | | | 493 | |
| | |
| | 1,366 | | | Twilio, Inc., Class – A (a) | | | 186 | |
| | |
| | 3,726 | | | VeriSign, Inc. (a) | | | 779 | |
| | |
| | 35,048 | | | Visa, Inc., Class – A | | | 6,083 | |
| | |
| | 21,954 | | | Western Union Co. | | | 437 | |
| | |
| | 561 | | | WEX, Inc. (a) | | | 117 | |
| | |
| | 10,145 | | | Worldpay, Inc., Class – A (a) | | | 1,243 | |
| | | | | | | | |
| | | | | | | 39,574 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.06% | |
| | |
| | 4,019 | | | Brunswick Corp. | | | 184 | |
| | |
| | 3,045 | | | Hasbro, Inc. | | | 322 | |
| | |
| | 23,381 | | | Mattel, Inc. (a) | | | 262 | |
| | |
| | 1,027 | | | Polaris Industries, Inc. | | | 94 | |
| | |
| | 845 | | | Sturm, Ruger & Co., Inc. | | | 46 | |
| | | | | | | | |
| | | | | | | 908 | |
| | | | | | | | |
| |
| | | | Life Sciences Tools & Services — 0.64% | |
| | |
| | 15,593 | | | Agilent Technologies, Inc. | | | 1,164 | |
| | |
| | 1,239 | | | Bio-Rad Laboratories, Inc., Class – A (a) | | | 387 | |
| | |
| | 689 | | | Bio-Techne Corp. | | | 144 | |
| | |
| | 3,014 | | | Bruker Biosciences Corp. | | | 151 | |
| | |
| | 836 | | | Charles River Laboratories International, Inc. (a) | | | 119 | |
| | |
| | 2,918 | | | Illumina, Inc. (a) | | | 1,074 | |
| | |
| | 7,394 | | | IQVIA Holdings, Inc. (a) | | | 1,190 | |
| | |
| | 608 | | | Mettler-Toledo International, Inc. (a) | | | 511 | |
| | |
| | 5,117 | | | PerkinElmer, Inc. | | | 493 | |
| | |
| | 778 | | | PRA Health Sciences, Inc. (a) | | | 77 | |
| | |
| | 10,777 | | | Qiagen N.V. (a) | | | 437 | |
| | |
| | 574 | | | Syneos Health, Inc. (a) | | | 29 | |
| | |
| | 12,090 | | | Thermo Electron Corp. | | | 3,550 | |
| | |
| | 1,186 | | | Waters Corp. (a) | | | 255 | |
| | | | | | | | |
| | | | | | | 9,581 | |
| | | | | | | | |
| |
| | | | Machinery — 1.40% | |
| | |
| | 912 | | | Actuant Corp., Class – A | | | 23 | |
| | |
| | 4,144 | | | AGCO Corp. | | | 321 | |
| | |
| | 4,265 | | | Allison Transmission Holdings, Inc. | | | 198 | |
| | |
| | 25,029 | | | Caterpillar, Inc. | | | 3,412 | |
| | |
| | 4,287 | | | Colfax Corp. (a) | | | 120 | |
| | |
| | 2,893 | | | Crane Co. | | | 241 | |
| | |
| | 9,421 | | | Cummins, Inc. | | | 1,615 | |
| | |
| | 16,522 | | | Deere & Co. | | | 2,739 | |
| | |
| | 3,989 | | | Donaldson Company, Inc. | | | 203 | |
| | |
| | 5,518 | | | Dover Corp. | | | 553 | |
| | |
| | 6,151 | | | Flowserve Corp. | | | 324 | |
| | |
| | 12,297 | | | Fortive Corp. | | | 1,002 | |
| | |
| | 697 | | | Franklin Electric Co., Inc. | | | 33 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Machinery (continued) | |
| | |
| | 6,796 | | | Gardner Denver Holdings, Inc. (a) | | $ | 235 | |
| | |
| | 1,724 | | | Gates Industrial Corp. PLC (a) | | | 20 | |
| | |
| | 3,762 | | | Graco, Inc. | | | 189 | |
| | |
| | 387 | | | Hyster-Yale Materials Handling, Inc., Class – A | | | 21 | |
| | |
| | 2,877 | | | IDEX Corp. | | | 495 | |
| | |
| | 7,275 | | | Illinois Tool Works, Inc. | | | 1,097 | |
| | |
| | 5,090 | | | Ingersoll-Rand PLC | | | 645 | |
| | |
| | 5,514 | | | ITT, Inc. | | | 361 | |
| | |
| | 2,006 | | | Lincoln Electric Holdings, Inc. | | | 165 | |
| | |
| | 1,167 | | | Mueller Industries, Inc. | | | 34 | |
| | |
| | 1,501 | | | Nordson, Inc. | | | 212 | |
| | |
| | 3,592 | | | Oshkosh Corp. | | | 300 | |
| | |
| | 17,784 | | | PACCAR, Inc. | | | 1,274 | |
| | |
| | 6,898 | | | Parker Hannifin Corp. | | | 1,173 | |
| | |
| | 8,016 | | | Pentair PLC | | | 298 | |
| | |
| | 2,624 | | | Snap-on, Inc. | | | 435 | |
| | |
| | 684 | | | SPX FLOW, Inc. (a) | | | 29 | |
| | |
| | 7,343 | | | Stanley Black & Decker, Inc. | | | 1,062 | |
| | |
| | 4,038 | | | Terex Corp. | | | 127 | |
| | |
| | 2,153 | | | The Greenbrier Companies, Inc. | | | 65 | |
| | |
| | 1,028 | | | The Middleby Corp. (a) | | | 139 | |
| | |
| | 5,435 | | | The Timken Co. | | | 279 | |
| | |
| | 3,425 | | | The Toro Co. | | | 229 | |
| | |
| | 7,152 | | | Trinity Industries, Inc. | | | 148 | |
| | |
| | 2,240 | | | Wabash National Corp. | | | 36 | |
| | |
| | 1,830 | | | WABCO Holdings, Inc. (a) | | | 243 | |
| | |
| | 6,235 | | | Wabtec Corp. | | | 447 | |
| | |
| | 1,729 | | | Welbilt, Inc. (a) | | | 29 | |
| | |
| | 720 | | | Woodward, Inc. | | | 81 | |
| | |
| | 3,500 | | | Xylem, Inc. | | | 293 | |
| | | | | | | | |
| | | | | | | 20,945 | |
| | | | | | | | |
| |
| | | | Marine — 0.02% | |
| | |
| | 3,003 | | | Kirby Corp. (a) | | | 237 | |
| | | | | | | | |
| |
| | | | Media — 1.14% | |
| | |
| | 1,345 | | | Altice USA, Inc. (a) | | | 33 | |
| | |
| | 1,153 | | | AMC Networks, Inc. (a) | | | 63 | |
| | |
| | 140 | | | Cable One, Inc. | | | 164 | |
| | |
| | 14,139 | | | CBS Corp., Class – B | | | 706 | |
| | |
| | 5,267 | | | Charter Communications, Inc., Class – A (a) | | | 2,081 | |
| | |
| | 166,682 | | | Comcast Corp., Class – A | | | 7,047 | |
| | |
| | 9,771 | | | Discovery Communications, Inc., Class – A (a) | | | 300 | |
| | |
| | 16,757 | | | Discovery Communications, Inc., Class – C (a) | | | 477 | |
| | |
| | 11,363 | | | Dish Network Corp. (a) | | | 436 | |
| | |
| | 15,830 | | | Fox Corp., Class – A | | | 580 | |
| | |
| | 7,318 | | | Fox Corp., Class – B | | | 267 | |
| | |
| | 7,063 | | | Gannett Company, Inc. | | | 58 | |
| | |
| | 4,786 | | | GCI Liberty, Inc., Class – A (a) | | | 294 | |
| | |
| | 2,095 | | | John Wiley & Sons, Inc., Class – A | | | 96 | |
| | |
| | 1,266 | | | Liberty Broadband, Class – A (a) | | | 130 | |
| | |
| | 6,242 | | | Liberty Broadband, Class – C (a) | | | 651 | |
| | |
| | 3,966 | | | Liberty SiriusXM Group, Class – A (a) | | | 150 | |
| | |
| | 17,188 | | | Liberty SiriusXM Group, Class – C (a) | | | 653 | |
| | |
| | 5,880 | | | News Corp., Inc. | | | 82 | |
| | |
| | 25,118 | | | News Corp., Inc., Class – A | | | 339 | |
| | |
| | 640 | | | Nexstar Broadcasting Group, Inc., Class – A | | | 65 | |
See accompanying notes to financial statements.
61
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Media (continued) | |
| | |
| | 11,421 | | | Omnicom Group, Inc. | | $ | 936 | |
| | |
| | 615 | | | Scholastic Corp. | | | 20 | |
| | |
| | 1,051 | | | Sinclair Broadcast Group, Inc., Class – A | | | 56 | |
| | |
| | 29,964 | | | Sirius XM Holdings, Inc. | | | 167 | |
| | |
| | 6,269 | | | TEGNA, Inc. | | | 95 | |
| | |
| | 22,946 | | | The Interpublic Group of Companies, Inc. | | | 518 | |
| | |
| | 5,444 | | | The New York Times Co., Class – A | | | 178 | |
| | |
| | 8,854 | | | Tribune Media Co., Class – A | | | 409 | |
| | | | | | | | |
| | | | | | | 17,051 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.35% | |
| | |
| | 11,593 | | | Alcoa Corp. (a) | | | 271 | |
| | |
| | 2,471 | | | Allegheny Technologies, Inc. (a) | | | 62 | |
| | |
| | 959 | | | Carpenter Technology Corp. | | | 46 | |
| | |
| | 12,993 | | | Cleveland-Cliffs, Inc. | | | 139 | |
| | |
| | 5,022 | | | Commercial Metals Co. | | | 90 | |
| | |
| | 676 | | | Compass Minerals International, Inc. | | | 37 | |
| | |
| | 72,756 | | | Freeport-McMoRan Copper & Gold, Inc. | | | 844 | |
| | |
| | 704 | | | Kaiser Aluminum Corp. | | | 69 | |
| | |
| | 584 | | | Materion Corp. | | | 40 | |
| | |
| | 40,102 | | | Newmont Mining Corp. | | | 1,542 | |
| | |
| | 14,845 | | | Nucor Corp. | | | 818 | |
| | |
| | 4,292 | | | Reliance Steel & Aluminum Co. | | | 406 | |
| | |
| | 2,419 | | | Royal Gold, Inc. | | | 248 | |
| | |
| | 1,286 | | | Schnitzer Steel Industries, Inc., Class – A | | | 34 | |
| | |
| | 1,898 | | | Southern Copper Corp. | | | 74 | |
| | |
| | 10,326 | | | Steel Dynamics, Inc. | | | 312 | |
| | |
| | 666 | | | Ternium SA, ADR | | | 15 | |
| | |
| | 8,243 | | | United States Steel Corp. | | | 126 | |
| | |
| | 1,715 | | | Warrior Met Coal, Inc. | | | 45 | |
| | | | | | | | |
| | | | | | | 5,218 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.23% | |
| | |
| | 32,738 | | | AGNC Investment Corp. | | | 551 | |
| | |
| | 87,460 | | | Annaly Capital Management, Inc. | | | 798 | |
| | |
| | 2,488 | | | Apollo Commercial Real Estate Finance, Inc. | | | 46 | |
| | |
| | 2,462 | | | Blackstone Mortgage Trust, Inc. | | | 88 | |
| | |
| | 15,848 | | | Chimera Investment Corp. | | | 299 | |
| | |
| | 5,402 | | | Invesco Mortgage Capital, Inc. | | | 87 | |
| | |
| | 1,449 | | | Ladder Capital Corp. | | | 24 | |
| | |
| | 32,345 | | | MFA Financial, Inc. | | | 232 | |
| | |
| | 26,436 | | | New Residential Investment Corp. | | | 407 | |
| | |
| | 3,411 | | | New York Mortgage Trust, Inc. | | | 21 | |
| | |
| | 3,619 | | | Pennymac Mortgage Investment Trust | | | 79 | |
| | |
| | 4,293 | | | Redwood Trust, Inc. | | | 71 | |
| | |
| | 19,710 | | | Starwood Property Trust, Inc. | | | 448 | |
| | |
| | 23,073 | | | Two Harbors Investment Corp. | | | 292 | |
| | | | | | | | |
| | | | | | | 3,443 | |
| | | | | | | | |
| |
| | | | Multiline Retail — 0.61% | |
| | |
| | 1,918 | | | Big Lots, Inc. | | | 55 | |
| | |
| | 411 | | | Dillard’s, Inc., Class – A | | | 26 | |
| | |
| | 13,034 | | | Dollar General Corp. | | | 1,761 | |
| | |
| | 8,823 | | | Dollar Tree, Inc. (a) | | | 948 | |
| | |
| | 12,802 | | | Kohl’s Corp. | | | 609 | |
| | |
| | 31,210 | | | Macy’s, Inc. | | | 670 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Multiline Retail (continued) | |
| | |
| | 5,711 | | | Nordstrom, Inc. | | $ | 182 | |
| | |
| | 55,854 | | | Target Corp. | | | 4,837 | |
| | | | | | | | |
| | | | | | | 9,088 | |
| | | | | | | | |
| |
| | | | Multi-Utilities — 0.95% | |
| | |
| | 12,854 | | | Ameren Corp. | | | 965 | |
| | |
| | 406 | | | Black Hills Corp. | | | 32 | |
| | |
| | 25,912 | | | CenterPoint Energy, Inc. | | | 742 | |
| | |
| | 14,873 | | | CMS Energy Corp. | | | 861 | |
| | |
| | 16,928 | | | Consolidated Edison, Inc. | | | 1,484 | |
| | |
| | 41,181 | | | Dominion Resources, Inc. | | | 3,184 | |
| | |
| | 9,459 | | | DTE Energy Co. | | | 1,210 | |
| | |
| | 9,416 | | | MDU Resources Group, Inc. | | | 243 | |
| | |
| | 17,917 | | | NiSource, Inc. | | | 516 | |
| | |
| | 343 | | | NorthWestern Corp. | | | 25 | |
| | |
| | 26,927 | | | Public Service Enterprise Group, Inc. | | | 1,584 | |
| | |
| | 14,354 | | | Sempra Energy | | | 1,973 | |
| | |
| | 16,732 | | | WEC Energy Group, Inc. | | | 1,395 | |
| | | | | | | | |
| | | | | | | 14,214 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 4.25% | |
| | |
| | 19,720 | | | Anadarko Petroleum Corp. | | | 1,391 | |
| | |
| | 7,455 | | | Antero Midstream Corp. | | | 85 | |
| | |
| | 12,204 | | | Antero Resources Corp. (a) | | | 67 | |
| | |
| | 19,412 | | | Apache Corp. | | | 562 | |
| | |
| | 231 | | | Arch Coal, Inc. | | | 22 | |
| | |
| | 12,913 | | | Cabot Oil & Gas Corp. | | | 296 | |
| | |
| | 8,045 | | | Centennial Resource Development, Inc., Class – A (a) | | | 61 | |
| | |
| | 6,510 | | | Cheniere Energy, Inc. (a) | | | 446 | |
| | |
| | 59,718 | | | Chesapeake Energy Corp. (a) | | | 116 | |
| | |
| | 103,902 | | | Chevron Corp. | | | 12,931 | |
| | |
| | 4,719 | | | Cimarex Energy Co. | | | 280 | |
| | |
| | 2,646 | | | CNX Resources Corp. (a) | | | 19 | |
| | |
| | 9,468 | | | Concho Resources, Inc. | | | 977 | |
| | |
| | 71,648 | | | ConocoPhillips | | | 4,372 | |
| | |
| | 4,115 | | | Continental Resources, Inc. | | | 173 | |
| | |
| | 548 | | | CVR Energy, Inc. | | | 27 | |
| | |
| | 21,279 | | | Devon Energy Corp. | | | 607 | |
| | |
| | 6,800 | | | Diamondback Energy, Inc. | | | 741 | |
| | |
| | 27,946 | | | EOG Resources, Inc. | | | 2,603 | |
| | |
| | 12,201 | | | EQT Corp. | | | 193 | |
| | |
| | 9,796 | | | Equitrans Midstream Corp. | | | 193 | |
| | |
| | 773 | | | Extraction Oil & Gas, Inc. (a) | | | 3 | |
| | |
| | 223,003 | | | Exxon Mobil Corp. | | | 17,090 | |
| | |
| | 2,863 | | | Green Plains, Inc. | | | 31 | |
| | |
| | 19,205 | | | Hess Corp. | | | 1,221 | |
| | |
| | 17,274 | | | HollyFrontier Corp. | | | 799 | |
| | |
| | 107,049 | | | Kinder Morgan, Inc. | | | 2,235 | |
| | |
| | 16,028 | | | Kosmos Energy Ltd. | | | 100 | |
| | |
| | 52,663 | | | Marathon Oil Corp. | | | 748 | |
| | |
| | 39,989 | | | Marathon Petroleum Corp. | | | 2,235 | |
| | |
| | 10,485 | | | Murphy Oil Corp. | | | 258 | |
| | |
| | 22,849 | | | Noble Energy, Inc. | | | 512 | |
| | |
| | 5,210 | | | Oasis Petroleum, Inc. (a) | | | 30 | |
| | |
| | 36,258 | | | Occidental Petroleum Corp. | | | 1,823 | |
| | |
| | 16,688 | | | ONEOK, Inc. | | | 1,148 | |
See accompanying notes to financial statements.
62
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Oil, Gas & Consumable Fuels (continued) | |
| | |
| | 7,527 | | | Parsley Energy, Inc., Class – A (a) | | $ | 143 | |
| | |
| | 7,805 | | | PBF Energy, Inc., Class – A | | | 244 | |
| | |
| | 965 | | | Peabody Energy Corp. | | | 23 | |
| | |
| | 28,911 | | | Phillips 66 | | | 2,705 | |
| | |
| | 5,693 | | | Pioneer Natural Resources Co. | | | 876 | |
| | |
| | 13,637 | | | QEP Resources, Inc. (a) | | | 99 | |
| | |
| | 9,851 | | | Range Resources Corp. | | | 69 | |
| | |
| | 5,490 | | | SM Energy Co. | | | 69 | |
| | |
| | 11,096 | | | Targa Resources Corp. | | | 436 | |
| | |
| | 62,850 | | | The Williams Companies, Inc. | | | 1,762 | |
| | |
| | 29,136 | | | Valero Energy Corp. | | | 2,494 | |
| | |
| | 5,453 | | | Whiting Petroleum Corp. (a) | | | 102 | |
| | |
| | 2,902 | | | World Fuel Services Corp. | | | 104 | |
| | |
| | 19,824 | | | WPX Energy, Inc. (a) | | | 228 | |
| | | | | | | | |
| | | | | | | 63,749 | |
| | | | | | | | |
| |
| | | | Paper & Forest Products — 0.02% | |
| | |
| | 778 | | | Boise Cascade Co. | | | 22 | |
| | |
| | 4,949 | | | Domtar Corp. | | | 220 | |
| | |
| | 1,358 | | | Schweitzer-Mauduit International, Inc. | | | 45 | |
| | | | | | | | |
| | | | | | | 287 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.13% | |
| | |
| | 6,253 | | | Avon Products, Inc. (a) | | | 24 | |
| | |
| | 16,991 | | | Coty, Inc., Class – A | | | 228 | |
| | |
| | 1,246 | | | Edgewell Personal Care Co. (a) | | | 34 | |
| | |
| | 5,753 | | | Herbalife Ltd. (a) | | | 246 | |
| | |
| | 5,180 | | | Nu Skin Enterprises, Inc., Class – A | | | 255 | |
| | |
| | 5,926 | | | The Estee Lauder Companies, Inc., Class – A | | | 1,085 | |
| | | | | | | | |
| | | | | | | 1,872 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 3.45% | |
| | |
| | 16,058 | | | Allergan PLC | | | 2,689 | |
| | |
| | 55,933 | | | Bristol-Myers Squibb Co. | | | 2,537 | |
| | |
| | 7,740 | | | Catalent, Inc. (a) | | | 420 | |
| | |
| | 17,243 | | | Elanco Animal Health, Inc. (a) | | | 583 | |
| | |
| | 15,937 | | | Eli Lilly & Co. | | | 1,766 | |
| | |
| | 5,371 | | | Horizon Therapeutics PLC (a) | | | 129 | |
| | |
| | 1,010 | | | Jazz Pharmaceuticals PLC (a) | | | 144 | |
| | |
| | 151,741 | | | Johnson & Johnson | | | 21,133 | |
| | |
| | 800 | | | Mallinckrodt PLC (a) | | | 7 | |
| | |
| | 80,001 | | | Merck & Co., Inc. | | | 6,708 | |
| | |
| | 24,762 | | | Mylan N.V. (a) | | | 471 | |
| | |
| | 6,820 | | | Nektar Therapeutics (a) | | | 243 | |
| | |
| | 6,020 | | | Perrigo Co. PLC | | | 287 | |
| | |
| | 313,256 | | | Pfizer, Inc. | | | 13,570 | |
| | |
| | 8,972 | | | Zoetis, Inc. | | | 1,018 | |
| | | | | | | | |
| | | | | | | 51,705 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.24% | |
| | |
| | 698 | | | CoStar Group, Inc. (a) | | | 387 | |
| | |
| | 2,458 | | | Equifax, Inc. | | | 332 | |
| | |
| | 1,350 | | | FTI Consulting, Inc. (a) | | | 113 | |
| | |
| | 13,445 | | | IHS Markit Ltd. (a) | | | 857 | |
| | |
| | 4,175 | | | ManpowerGroup, Inc. | | | 403 | |
| | |
| | 16,788 | | | Nielsen Holdings PLC | | | 379 | |
| | |
| | 3,464 | | | Robert Half International, Inc. | | | 197 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Professional Services (continued) | |
| | |
| | 2,513 | | | TransUnion Holding Company, Inc. | | $ | 185 | |
| | |
| | 1,128 | | | TrueBlue, Inc. (a) | | | 25 | |
| | |
| | 4,360 | | | Versik Analytics, Inc., Class – A | | | 640 | |
| | | | | | | | |
| | | | | | | 3,518 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.07% | |
| | |
| | 11,538 | | | CBRE Group, Inc., Class – A (a) | | | 593 | |
| | |
| | 1,578 | | | Howard Hughes Corp. (a) | | | 195 | |
| | |
| | 2,199 | | | Jones Lang LaSalle, Inc. | | | 309 | |
| | |
| | 1,983 | | | Realogy Holdings Corp. | | | 14 | |
| | | | | | | | |
| | | | | | | 1,111 | |
| | | | | | | | |
| |
| | | | Road & Rail — 0.72% | |
| | |
| | 534 | | | AMERCO, Inc. | | | 202 | |
| | |
| | 1,039 | | | ArcBest Corp. | | | 29 | |
| | |
| | 2,517 | | | Avis Budget Group, Inc. (a) | | | 88 | |
| | |
| | 33,401 | | | CSX Corp. | | | 2,585 | |
| | |
| | 2,784 | | | Genesee & Wyoming, Inc., Class – A (a) | | | 278 | |
| | |
| | 5,244 | | | Hertz Global Holdings, Inc. (a) | | | 84 | |
| | |
| | 4,225 | | | Hunt (JB) Transportation Services, Inc. | | | 386 | |
| | |
| | 5,151 | | | Kansas City Southern | | | 627 | |
| | |
| | 6,447 | | | Knight-Swift Transportation Holdings, Inc. | | | 212 | |
| | |
| | 1,356 | | | Landstar System, Inc. | | | 146 | |
| | |
| | 962 | | | Lyft, Inc., Class – A | | | 63 | |
| | |
| | 12,885 | | | Norfolk Southern Corp. | | | 2,569 | |
| | |
| | 2,502 | | | Old Dominion Freight Line, Inc. | | | 373 | |
| | |
| | 2,814 | | | Ryder System, Inc. | | | 164 | |
| | |
| | 2,669 | | | Schneider National, Inc. | | | 49 | |
| | |
| | 5,326 | | | Uber Technologies, Inc. (a) | | | 247 | |
| | |
| | 15,968 | | | Union Pacific Corp. | | | 2,701 | |
| | |
| | 1,070 | | | Werner Enterprises, Inc. | | | 33 | |
| | | | | | | | |
| | | | | | | 10,836 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 2.12% | |
| | |
| | 13,019 | | | Advanced Micro Devices, Inc. (a) | | | 395 | |
| | |
| | 16,099 | | | Analog Devices, Inc. | | | 1,817 | |
| | |
| | 30,924 | | | Applied Materials, Inc. | | | 1,389 | |
| | |
| | 7,240 | | | Broadcom, Inc. | | | 2,084 | |
| | |
| | 946 | | | Cirrus Logic, Inc. (a) | | | 41 | |
| | |
| | 6,818 | | | Cree, Inc. (a) | | | 383 | |
| | |
| | 18,971 | | | Cypress Semiconductor Corp. | | | 422 | |
| | |
| | 3,958 | | | First Solar, Inc. (a) | | | 260 | |
| | |
| | 217,193 | | | Intel Corp. | | | 10,398 | |
| | |
| | 3,353 | | | KLA-Tencor Corp. | | | 396 | |
| | |
| | 2,938 | | | Lam Research Corp. | | | 552 | |
| | |
| | 29,683 | | | Marvell Technology Group Ltd. | | | 709 | |
| | |
| | 9,359 | | | Maxim Integrated Products, Inc. | | | 560 | |
| | |
| | 8,790 | | | Microchip Technology, Inc. | | | 762 | |
| | |
| | 52,622 | | | Micron Technology, Inc. (a) | | | 2,031 | |
| | |
| | 2,526 | | | MKS Instruments, Inc. | | | 197 | |
| | |
| | 558 | | | Monolithic Power Systems, Inc. | | | 76 | |
| | |
| | 8,080 | | | NVIDIA Corp. | | | 1,327 | |
| | |
| | 4,676 | | | NXP Semiconductors N.V. | | | 456 | |
| | |
| | 19,261 | | | ON Semiconductor Corp. (a) | | | 389 | |
| | |
| | 6,081 | | | Qorvo, Inc. (a) | | | 405 | |
| | |
| | 36,193 | | | Qualcomm, Inc. | | | 2,753 | |
| | |
| | 8,305 | | | Skyworks Solutions, Inc. | | | 642 | |
| | |
| | 2,502 | | | Teradyne, Inc. | | | 120 | |
See accompanying notes to financial statements.
63
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Semiconductors & Semiconductor Equipment (continued) | |
| | |
| | 18,999 | | | Texas Instruments, Inc. | | $ | 2,180 | |
| | |
| | 585 | | | Universal Display Corp. | | | 110 | |
| | |
| | 1,513 | | | Versum Materials, Inc. | | | 78 | |
| | |
| | 6,191 | | | Xilinx, Inc. | | | 730 | |
| | | | | | | | |
| | | | | | | 31,662 | |
| | | | | | | | |
| |
| | | | Software — 2.23% | |
| | |
| | 1,890 | | | 2U, Inc. (a) | | | 71 | |
| | |
| | 8,778 | | | Adobe Systems, Inc. (a) | | | 2,586 | |
| | |
| | 1,664 | | | ANSYS, Inc. (a) | | | 341 | |
| | |
| | 1,363 | | | Aspen Technology, Inc. (a) | | | 169 | |
| | |
| | 1,391 | | | Atlassian Corp. PLC, Class – A (a) | | | 182 | |
| | |
| | 6,008 | | | Autodesk, Inc. (a) | | | 979 | |
| | |
| | 6,902 | | | Cadence Design Systems, Inc. (a) | | | 489 | |
| | |
| | 2,651 | | | CDK Global, Inc. | | | 131 | |
| | |
| | 1,124 | | | Ceridian HCM Holding, Inc. (a) | | | 56 | |
| | |
| | 2,304 | | | Citrix Systems, Inc. | | | 226 | |
| | |
| | 991 | | | DocuSign, Inc. (a) | | | 49 | |
| | |
| | 113 | | | Elastic N.V. (a) | | | 8 | |
| | |
| | 774 | | | Fair Isaac Corp. (a) | | | 243 | |
| | |
| | 2,638 | | | FireEye, Inc. (a) | | | 39 | |
| | |
| | 2,641 | | | Fortinet, Inc. (a) | | | 203 | |
| | |
| | 1,090 | | | Guidewire Software, Inc. (a) | | | 111 | |
| | |
| | 5,657 | | | Intuit, Inc. | | | 1,478 | |
| | |
| | 2,354 | | | LogMeln, Inc. | | | 173 | |
| | |
| | 1,660 | | | Manhattan Associates, Inc. (a) | | | 115 | |
| | |
| | 122,641 | | | Microsoft Corp. | | | 16,430 | |
| | |
| | 14,951 | | | Nuance Communications, Inc. (a) | | | 239 | |
| | |
| | 1,890 | | | Nutanix, Inc., Class – A (a) | | | 49 | |
| | |
| | 42,828 | | | Oracle Corp. | | | 2,440 | |
| | |
| | 668 | | | Paycom Software, Inc. (a) | | | 151 | |
| | |
| | 501 | | | Pegasystems, Inc. | | | 36 | |
| | |
| | 723 | | | Pluralsight, Inc., Class – A (a) | | | 22 | |
| | |
| | 690 | | | Proofpoint, Inc. (a) | | | 83 | |
| | |
| | 1,584 | | | PTC, Inc. (a) | | | 142 | |
| | |
| | 983 | | | RealPage, Inc. (a) | | | 58 | |
| | |
| | 3,466 | | | Red Hat, Inc. (a) | | | 651 | |
| | |
| | 927 | | | RingCentral, Inc., Class – A (a) | | | 107 | |
| | |
| | 13,044 | | | Salesforce.com, Inc. (a) | | | 1,979 | |
| | |
| | 2,460 | | | ServiceNow, Inc. (a) | | | 675 | |
| | |
| | 1,407 | | | SolarWinds Corp. (a) | | | 26 | |
| | |
| | 2,054 | | | Splunk, Inc. (a) | | | 258 | |
| | |
| | 4,811 | | | SS&C Technologies Holdings, Inc. | | | 277 | |
| | |
| | 34,718 | | | Symantec Corp. | | | 755 | |
| | |
| | 2,874 | | | Synopsys, Inc. (a) | | | 370 | |
| | |
| | 1,040 | | | Tableau Software, Inc., Class – A (a) | | | 173 | |
| | |
| | 515 | | | Tyler Technologies, Inc. (a) | | | 111 | |
| | |
| | 443 | | | Verint Systems, Inc. (a) | | | 24 | |
| | |
| | 1,349 | | | VMware, Inc., Class – A | | | 226 | |
| | |
| | 2,056 | | | Workday, Inc., Class – A (a) | | | 423 | |
| | |
| | 1,429 | | | Zendesk, Inc. (a) | | | 127 | |
| | | | | | | | |
| | | | | | | 33,481 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Specialty Retail — 1.50% | |
| | |
| | 1,418 | | | Aaron’s, Inc. | | $ | 87 | |
| | |
| | 5,011 | | | Abercrombie & Fitch Co., Class – A | | | 80 | |
| | |
| | 3,594 | | | Advance Auto Parts, Inc. | | | 554 | |
| | |
| | 11,711 | | | American Eagle Outfitters, Inc. | | | 198 | |
| | |
| | 949 | | | Asbury Automotive Group, Inc. (a) | | | 80 | |
| | |
| | 3,785 | | | AutoNation, Inc. (a) | | | 159 | |
| | |
| | 768 | | | AutoZone, Inc. (a) | | | 844 | |
| | |
| | 14,888 | | | Bed Bath & Beyond, Inc. | | | 173 | |
| | |
| | 14,608 | | | Best Buy Co., Inc. | | | 1,019 | |
| | |
| | 907 | | | Burlington Stores, Inc. (a) | | | 154 | |
| | |
| | 1,551 | | | Caleres, Inc. | | | 31 | |
| | |
| | 5,390 | | | CarMax, Inc. (a) | | | 468 | |
| | |
| | 13,486 | | | Chico’s FAS, Inc. | | | 45 | |
| | |
| | 5,776 | | | Designer Brands, Inc., Class – A | | | 111 | |
| | |
| | 4,975 | | | Dick’s Sporting Goods, Inc. | | | 172 | |
| | |
| | 797 | | | Floor & Decor Holdings, Inc.,
Class – A (a) | | | 33 | |
| | |
| | 9,885 | | | Foot Locker, Inc. | | | 414 | |
| | |
| | 6,478 | | | GameStop Corp., Class – A | | | 35 | |
| | |
| | 20,485 | | | Gap, Inc. | | | 368 | |
| | |
| | 1,617 | | | Genesco, Inc. (a) | | | 68 | |
| | |
| | 815 | | | Group 1 Automotive, Inc. | | | 67 | |
| | |
| | 3,941 | | | Guess?, Inc. | | | 64 | |
| | |
| | 13,734 | | | L Brands, Inc. | | | 358 | |
| | |
| | 378 | | | Lithia Motors, Inc. | | | 45 | |
| | |
| | 19,928 | | | Lowe’s Companies, Inc. | | | 2,012 | |
| | |
| | 1,335 | | | Michaels Companies, Inc. The (a) | | | 12 | |
| | |
| | 2,419 | | | Murphy USA, Inc. (a) | | | 203 | |
| | |
| | 35,118 | | | Office Depot, Inc. | | | 72 | |
| | |
| | 3,263 | | | O’Reilly Automotive, Inc. (a) | | | 1,205 | |
| | |
| | 2,422 | | | Penske Automotive Group, Inc. | | | 115 | |
| | |
| | 807 | | | Rent-A-Center, Inc. (a) | | | 21 | |
| | |
| | 7,230 | | | Ross Stores, Inc. | | | 717 | |
| | |
| | 9,270 | | | Sally Beauty Holdings, Inc. (a) | | | 124 | |
| | |
| | 1,851 | | | Signet Jewelers Ltd. | | | 33 | |
| | |
| | 853 | | | Sleep Number Corp. (a) | | | 34 | |
| | |
| | 1,206 | | | Sonic Automotive, Inc., Class – A | | | 28 | |
| | |
| | 2,579 | | | The Buckle, Inc. | | | 45 | |
| | |
| | 285 | | | The Children’s Place Retail Stores, Inc. | | | 27 | |
| | |
| | 38,745 | | | The Home Depot, Inc. | | | 8,059 | |
| | |
| | 40,637 | | | The TJX Companies, Inc. | | | 2,150 | |
| | |
| | 5,813 | | | Tiffany & Co. | | | 544 | |
| | |
| | 3,760 | | | Tractor Supply Co. | | | 409 | |
| | |
| | 1,321 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | | �� | 458 | |
| | |
| | 5,485 | | | Urban Outfitters, Inc. (a) | | | 125 | |
| | |
| | 5,893 | | | Williams-Sonoma, Inc. | | | 383 | |
| | | | | | | | |
| | | | | | | 22,403 | |
| | | | | | | | |
| |
| | | | Technology Hardware, Storage & Peripherals — 1.37% | |
| | |
| | 77,464 | | | Apple, Inc. | | | 15,332 | |
| | |
| | 3,822 | | | Dell Technologies, Inc. (a) | | | 194 | |
| | |
| | 77,567 | | | Hewlett Packard Enterprise Co. | | | 1,160 | |
| | |
| | 85,864 | | | HP, Inc. | | | 1,785 | |
| | |
| | 2,376 | | | NCR Corp. (a) | | | 74 | |
| | |
| | 3,537 | | | NetApp, Inc. | | | 218 | |
| | |
| | 2,183 | | | Pure Storage, Inc., Class – A (a) | | | 33 | |
See accompanying notes to financial statements.
64
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Technology Hardware, Storage & Peripherals (continued) | |
| | |
| | 12,386 | | | Seagate Technology Holdings, Inc. | | $ | 584 | |
| | |
| | 14,256 | | | Western Digital Corp. | | | 678 | |
| | |
| | 15,202 | | | Xerox Corp. | | | 538 | |
| | | | | | | | |
| | | | | | | 20,596 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 0.42% | |
| | |
| | 4,780 | | | Capri Holdings Ltd. (a) | | | 166 | |
| | |
| | 2,985 | | | Carter’s, Inc. | | | 291 | |
| | |
| | 797 | | | Columbia Sportswear Co. | | | 80 | |
| | |
| | 1,157 | | | Deckers Outdoor Corp. (a) | | | 204 | |
| | |
| | 6,805 | | | Fossil Group, Inc. (a) | | | 78 | |
| | |
| | 1,731 | | | G-III Apparel Group Ltd. (a) | | | 51 | |
| | |
| | 12,799 | | | Hanesbrands, Inc. | | | 220 | |
| | |
| | 629 | | | Kontoor Brands, Inc. (a) | | | 18 | |
| | |
| | 1,327 | | | Lululemon Athletica, Inc. (a) | | | 240 | |
| | |
| | 31,352 | | | NIKE, Inc., Class – B | | | 2,631 | |
| | |
| | 3,578 | | | PVH Corp. | | | 339 | |
| | |
| | 3,476 | | | Ralph Lauren Corp. | | | 395 | |
| | |
| | 4,682 | | | Skechers USA, Inc., Class – A (a) | | | 147 | |
| | |
| | 1,491 | | | Steven Madden Ltd. | | | 51 | |
| | |
| | 13,864 | | | Tapestry, Inc. | | | 440 | |
| | |
| | 6,340 | | | Under Armour, Inc., Class – A (a) | | | 161 | |
| | |
| | 4,906 | | | Under Armour, Inc., Class – C (a) | | | 109 | |
| | |
| | 8,689 | | | V.F. Corp. | | | 759 | |
| | | | | | | | |
| | | | | | | 6,380 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.04% | |
| | |
| | 2,007 | | | Capitol Federal Financial, Inc. | | | 28 | |
| | |
| | 450 | | | Essent Group Ltd. (a) | | | 21 | |
| | |
| | 14,480 | | | MGIC Investment Corp. (a) | | | 190 | |
| | |
| | 24,201 | | | New York Community Bancorp, Inc. | | | 241 | |
| | |
| | 1,637 | | | Northwest Bancshares, Inc. | | | 29 | |
| | |
| | 1,205 | | | Radian Group, Inc. | | | 28 | |
| | |
| | 2,701 | | | TFS Financial Corp. | | | 49 | |
| | | | | | | | |
| | | | | | | 586 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.82% | |
| | |
| | 73,380 | | | Altria Group, Inc. | | | 3,475 | |
| | |
| | 110,452 | | | Philip Morris International, Inc. | | | 8,673 | |
| | |
| | 840 | | | Universal Corp. | | | 51 | |
| | |
| | 2,750 | | | Vector Group Ltd. | | | 27 | |
| | | | | | | | |
| | | | | | | 12,226 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 0.21% | |
| | |
| | 4,645 | | | Air Lease Corp. | | | 192 | |
| | |
| | 1,830 | | | Aircastle Ltd. | | | 39 | |
| | |
| | 562 | | | Applied Industrial Technologies, Inc. | | | 35 | |
| | |
| | 15,844 | | | Fastenal Co. | | | 517 | |
| | |
| | 1,158 | | | GATX Corp. | | | 92 | |
| | |
| | 10,090 | | | HD Supply Holdings, Inc. (a) | | | 406 | |
| | |
| | 558 | | | Kaman Corp. | | | 36 | |
| | |
| | 2,873 | | | MRC Global, Inc. (a) | | | 49 | |
| | |
| | 3,835 | | | MSC Industrial Direct Co., Inc., Class – A | | | 285 | |
| | |
| | 3,865 | | | NOW, Inc. (a) | | | 57 | |
| | |
| | 909 | | | Rush Enterprises, Inc., Class – A | | | 33 | |
| | |
| | 2,262 | | | United Rentals, Inc. (a) | | | 300 | |
| | |
| | 6,925 | | | Univar, Inc. (a) | | | 153 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Trading Companies & Distributors (continued) | |
| | |
| | 1,795 | | | W.W. Grainger, Inc. | | $ | 481 | |
| | |
| | 2,221 | | | Watsco, Inc. | | | 363 | |
| | |
| | 4,333 | | | WESCO International, Inc. (a) | | | 219 | |
| | | | | | | | |
| | | | | | | 3,257 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.02% | |
| | |
| | 6,683 | | | Macquarie Infrastructure Corp. | | | 271 | |
| | | | | | | | |
| |
| | | | Water Utilities — 0.11% | |
| | |
| | 9,586 | | | American Water Works Co., Inc. | | | 1,112 | |
| | |
| | 11,666 | | | Aqua America, Inc. | | | 483 | |
| | | | | | | | |
| | | | | | | 1,595 | |
| | | | | | | | |
| |
| | | | Wireless Telecommunication Services — 0.09% | |
| | |
| | 33,702 | | | Sprint Nextel Corp. (a) | | | 221 | |
| | |
| | 6,676 | | | Telephone & Data Systems, Inc. | | | 203 | |
| | |
| | 10,743 | | | T-Mobile USA, Inc. (a) | | | 796 | |
| | |
| | 1,556 | | | U.S. Cellular Corp. (a) | | | 70 | |
| | | | | | | | |
| | | | | | | 1,290 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 1,057,140 | |
| | | | | | | | |
| |
| | | | Contingent Right — 0.00% | |
| |
| | | | Road & Rail — 0.00% | |
| | |
| | 5,244 | | | Hertz Global Holdings, Inc. (a) | | | 10 | |
| | | | | | | | |
| | | | Total Contingent Right | | | 10 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | U.S. Treasury Obligation — 0.01% | |
| | |
| $ | 119 | | | U.S. Treasury Bill,
2.05%, 9/12/19 (b)(c) | | | 119 | |
| | | | | | | | |
| | | | Total U.S. Treasury Obligation | | | 119 | |
| | | | | | | | |
| | |
| Shares | | | | | | |
| | | | Exchange-Traded Fund — 0.02% | |
| | |
| | 1,955 | | | iShares Russell 1000 ETF | | | 318 | |
| | | | | | | | |
| | | | Total Exchange-Traded Fund | | | 318 | |
| | | | | | | | |
| |
| | | | Investment Companies — 27.70% | |
| | |
| | 300,123 | | | Dreyfus Treasury Securities Cash Management, Institutional Shares, 2.10% (d) | | | 300 | |
| | |
| | 414,642,422 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (d) | | | 414,643 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 414,943 | |
| | | | | | | | |
| | | | Total Investments
(cost $1,355,055) — 98.31% | | | 1,472,530 | |
| | | | Other assets in excess of
liabilities — 1.69% | | | 25,371 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 1,497,901 | |
| | | | | | | | |
| (a) | Representsnon-income producing security. |
| (b) | The 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 June 30, 2019. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
65
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | |
The Institutional Value Equity Portfolio | | Mellon Investments
Corporation* | | | Pacific Investment
Management
Company, LLC | | | Parametric
Portfolio
Associates, LLC | | | HC Capital
Solutions | | | Total | |
Common Stocks | | | 56.47 | % | | | 14.11 | % | | | — | | | | — | | | | 70.58 | % |
Contingent Right | | | — | | | | 0.00 | % | | | — | | | | — | | | | 0.00 | % |
U.S. Treasury Obligation | | | 0.01 | % | | | — | | | | — | | | | — | | | | 0.01 | % |
Exchange-Traded Fund | | | 0.02 | % | | | — | | | | — | | | | — | | | | 0.02 | % |
Investment Companies | | | 0.08 | % | | | — | | | | 26.45 | % | | | 1.17 | % | | | 27.70 | % |
| | | | | |
Other Assets (Liabilities) | | | 0.06 | % | | | 0.06 | % | | | 1.57 | % | | | 0.00 | % | | | 1.69 | % |
| | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 56.64 | % | | | 14.17 | % | | | 28.02 | % | | | 1.17 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
E-Mini S&P 500 Future | | 2,268 | | | 9/20/19 | | | $ | 333,872 | | | $ | 2,750 | |
E-Mini S&P Midcap 400 Future | | 525 | | | 9/20/19 | | | | 102,375 | | | | 1,533 | |
| | | | | | | | | | | | | | |
| | | | | $ | 436,247 | | | $ | 4,283 | |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 4,283 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 4,283 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
66
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 96.80% | |
| |
| | | | Aerospace & Defense — 2.68% | |
| | |
| | 60,281 | | | Airbus SE, ADR | | $ | 2,132 | |
| | |
| | 890 | | | BWX Technologies, Inc. | | | 46 | |
| | |
| | 6,271 | | | General Dynamics Corp. | | | 1,140 | |
| | |
| | 2,732 | | | Harris Corp. | | | 517 | |
| | |
| | 391 | | | HEICO Corp. | | | 52 | |
| | |
| | 728 | | | HEICO Corp., Class – A | | | 75 | |
| | |
| | 605 | | | Hexcel Corp. | | | 49 | |
| | |
| | 360 | | | Huntington Ingalls Industries, Inc. | | | 81 | |
| | |
| | 1,611 | | | L3 Technologies, Inc. | | | 395 | |
| | |
| | 5,693 | | | Lockheed Martin Corp. | | | 2,070 | |
| | |
| | 1,511 | | | Northrop Grumman Corp. | | | 488 | |
| | |
| | 6,883 | | | Raytheon Co. | | | 1,197 | |
| | |
| | 88,030 | | | Safran SA, ADR | | | 3,215 | |
| | |
| | 20,394 | | | The Boeing Co. | | | 7,424 | |
| | |
| | 475 | | | TransDigm Group, Inc. (a) | | | 230 | |
| | |
| | 18,040 | | | United Technologies Corp. | | | 2,349 | |
| | | | | | | | |
| | | | | | | 21,460 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.08% | |
| | |
| | 2,907 | | | C.H. Robinson Worldwide, Inc. | | | 245 | |
| | |
| | 4,946 | | | Expeditors International of Washington, Inc. | | | 375 | |
| | | | | | | | |
| | | | | | | 620 | |
| | | | | | | | |
| |
| | | | Airlines — 0.03% | |
| | |
| | 5,393 | | | Southwest Airlines Co. | | | 273 | |
| | |
| | 12 | | | Spirit Airlines, Inc. (a) | | | 1 | |
| | | | | | | | |
| | | | | | | 274 | |
| | | | | | | | |
| |
| | | | Auto Components — 0.30% | |
| | |
| | 158,345 | | | Goodyear Tire & Rubber Co. | | | 2,423 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.71% | |
| | |
| | 253,378 | | | Ford Motor Co. | | | 2,592 | |
| | |
| | 13,760 | | | Tesla Motors, Inc.^ (a) | | | 3,075 | |
| | | | | | | | |
| | | | | | | 5,667 | |
| | | | | | | | |
| |
| | | | Banks — 2.50% | |
| | |
| | 99,079 | | | Bank of America Corp. | | | 2,873 | |
| | |
| | 51,877 | | | Bank OZK | | | 1,561 | |
| | |
| | 33,202 | | | CIT Group, Inc. | | | 1,744 | |
| | |
| | 6,530 | | | Citigroup, Inc. | | | 457 | |
| | |
| | 7,630 | | | Citizens Financial Group, Inc. | | | 270 | |
| | |
| | 1,150 | | | Cullen/Frost Bankers, Inc. | | | 108 | |
| | |
| | 65,896 | | | Fifth Third Bancorp | | | 1,838 | |
| | |
| | 159,323 | | | First Horizon National Corp. | | | 2,379 | |
| | |
| | 3,853 | | | First Republic Bank | | | 376 | |
| | |
| | 27,297 | | | FNB Corp. | | | 321 | |
| | |
| | 46,537 | | | JPMorgan Chase & Co. | | | 5,204 | |
| | |
| | 62,379 | | | PacWest Bancorp | | | 2,422 | |
| | |
| | 368 | | | SVB Financial Group (a) | | | 83 | |
| | |
| | 24,681 | | | Umpqua Holdings Corp. | | | 409 | |
| | |
| | 394 | | | Western Alliance Bancorp (a) | | | 18 | |
| | | | | | | | |
| | | | | | | 20,063 | |
| | | | | | | | |
| |
| | | | Beverages — 1.22% | |
| | |
| | 7,576 | | | Brown-Forman Corp., Class – B | | | 420 | |
| | |
| | 8,931 | | | Monster Beverage Corp. (a) | | | 570 | |
| | |
| | 29,046 | | | PepsiCo, Inc. | | | 3,809 | |
| | |
| | 98,241 | | | The Coca-Cola Co. | | | 5,002 | |
| | | | | | | | |
| | | | | | | 9,801 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Biotechnology — 2.20% | |
| | |
| | 14,868 | | | AbbVie, Inc. | | $ | 1,081 | |
| | |
| | 10,218 | | | Alexion Pharmaceuticals, Inc. (a)(b) | | | 1,338 | |
| | |
| | 24,435 | | | Amgen, Inc. | | | 4,504 | |
| | |
| | 22,259 | | | BioMarin Pharmaceutical, Inc. (a) | | | 1,906 | |
| | |
| | 12,073 | | | Exact Sciences Corp. (a) | | | 1,425 | |
| | |
| | 7,181 | | | Intercept Pharmaceuticals, Inc. (a) | | | 571 | |
| | |
| | 10,660 | | | Ionis Pharmaceuticals, Inc. (a) | | | 685 | |
| | |
| | 14,463 | | | Neurocrine Biosciences, Inc. (a) | | | 1,221 | |
| | |
| | 2,019 | | | Regeneron Pharmaceuticals, Inc. (a) | | | 632 | |
| | |
| | 5,911 | | | Sage Therapeutics, Inc. (a) | | | 1,082 | |
| | |
| | 1,014 | | | Seattle Genetics, Inc. (a) | | | 70 | |
| | |
| | 17,338 | | | Vertex Pharmaceuticals, Inc. (a) | | | 3,180 | |
| | | | | | | | |
| | | | | | | 17,695 | |
| | | | | | | | |
| |
| | | | Building Products — 0.34% | |
| | |
| | 24,229 | | | A.O. Smith Corp. | | | 1,143 | |
| | |
| | 404 | | | Armstrong World Industries, Inc. | | | 39 | |
| | |
| | 5,752 | | | Lennox International, Inc. | | | 1,582 | |
| | | | | | | | |
| | | | | | | 2,764 | |
| | | | | | | | |
| |
| | | | Capital Markets — 1.94% | |
| | |
| | 2,554 | | | CBOE Holdings, Inc. | | | 265 | |
| | |
| | 6,242 | | | CME Group, Inc. | | | 1,212 | |
| | |
| | 1,203 | | | FactSet Research Systems, Inc. | | | 345 | |
| | |
| | 1,764 | | | Federated Investors, Inc., Class – B | | | 57 | |
| | |
| | 4,446 | | | Franklin Resources, Inc. | | | 155 | |
| | |
| | 2,582 | | | Intercontinental Exchange Group, Inc. | | | 222 | |
| | |
| | 121,464 | | | Invesco Ltd. | | | 2,485 | |
| | |
| | 50,482 | | | Legg Mason, Inc. | | | 1,932 | |
| | |
| | 5,371 | | | LPL Financial Holdings, Inc. | | | 438 | |
| | |
| | 349 | | | MarketAxess Holdings, Inc. | | | 112 | |
| | |
| | 1,577 | | | Moody’s Corp. | | | 308 | |
| | |
| | 390 | | | Morningstar, Inc. | | | 56 | |
| | |
| | 838 | | | MSCI, Inc. Common | | | 200 | |
| | |
| | 17,141 | | | S&P Global, Inc. | | | 3,904 | |
| | |
| | 2,729 | | | SEI Investments Co. | | | 153 | |
| | |
| | 5,465 | | | T. Rowe Price Group, Inc. | | | 600 | |
| | |
| | 7,304 | | | TD Ameritrade Holding Corp. | | | 365 | |
| | |
| | 8,409 | | | The Charles Schwab Corp. | | | 338 | |
| | |
| | 109,620 | | | Virtu Financial, Inc., Class – A | | | 2,388 | |
| | | | | | | | |
| | | | | | | 15,535 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.47% | |
| | |
| | 3,430 | | | Air Products & Chemicals, Inc. | | | 776 | |
| | |
| | 49,856 | | | Ecolab, Inc. | | | 9,844 | |
| | |
| | 999 | | | FMC Corp. | | | 83 | |
| | |
| | 1,601 | | | International Flavors & Fragrances, Inc. | | | 232 | |
| | |
| | 934 | | | Livent Corp. (a) | | | 6 | |
| | |
| | 1,388 | | | LyondellBasell Industries N.V., Class – A | | | 120 | |
| | |
| | 1,773 | | | The Sherwin-Williams Co. | | | 813 | |
| | | | | | | | |
| | | | | | | 11,874 | |
| | | | | | | | |
| |
| | | | Commercial Services & Supplies — 0.26% | |
| | |
| | 2,657 | | | Cintas Corp. | | | 631 | |
| | |
| | 6,652 | | | Copart, Inc. (a) | | | 497 | |
| | |
| | 1,301 | | | IAA, Inc. (a) | | | 50 | |
| | |
| | 1,301 | | | KAR Auction Services, Inc. | | | 33 | |
| | |
| | 4,338 | | | Rollins, Inc. | | | 156 | |
See accompanying notes to financial statements.
67
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Commercial Services & Supplies (continued) | |
| | |
| | 3,677 | | | Waste Connections, Inc. | | $ | 351 | |
| | |
| | 3,522 | | | Waste Management, Inc. | | | 406 | |
| | | | | | | | |
| | | | | | | 2,124 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 0.76% | |
| | |
| | 1,194 | | | Arista Networks, Inc. (a) | | | 310 | |
| | |
| | 101,754 | | | Cisco Systems, Inc. | | | 5,568 | |
| | |
| | 885 | | | F5 Networks, Inc. (a) | | | 129 | |
| | |
| | 153 | | | Motorola Solutions, Inc. | | | 26 | |
| | |
| | 377 | | | Palo Alto Networks, Inc. (a) | | | 77 | |
| | | | | | | | |
| | | | | | | 6,110 | |
| | | | | | | | |
| |
| | | | Construction & Engineering — 0.03% | |
| | |
| | 2,650 | | | Jacobs Engineering Group, Inc. | | | 224 | |
| | |
| | 374 | | | Quanta Services, Inc. | | | 14 | |
| | | | | | | | |
| | | | | | | 238 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 0.52% | |
| | |
| | 95 | | | Credit Acceptance Corp. (a) | | | 46 | |
| | |
| | 135,033 | | | Navient Corp. | | | 1,843 | |
| | |
| | 65,833 | | | Synchrony Financial | | | 2,283 | |
| | | | | | | | |
| | | | | | | 4,172 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.06% | |
| | |
| | 1,280 | | | AptarGroup, Inc. | | | 159 | |
| | |
| | 747 | | | Avery Dennison Corp. | | | 86 | |
| | |
| | 841 | | | Packaging Corporation of America | | | 80 | |
| | |
| | 2,077 | | | Sonoco Products Co. | | | 136 | |
| | | | | | | | |
| | | | | | | 461 | |
| | | | | | | | |
| |
| | | | Distributors — 0.05% | |
| | |
| | 2,966 | | | Genuine Parts Co. | | | 307 | |
| | |
| | 381 | | | Pool Corp. | | | 73 | |
| | | | | | | | |
| | | | | | | 380 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 0.03% | |
| | |
| | 516 | | | Bright Horizons Family Solutions, Inc. (a) | | | 78 | |
| | |
| | 1,727 | | | Service Corporation International | | | 81 | |
| | |
| | 1,276 | | | ServiceMaster Global Holdings, Inc. (a) | | | 66 | |
| | | | | | | | |
| | | | | | | 225 | |
| | | | | | | | |
| |
| | | | Diversified Financial Services — 0.80% | |
| | |
| | 18,079 | | | AXA Equitable Holdings, Inc. | | | 378 | |
| | |
| | 28,293 | | | Berkshire Hathaway, Inc., Class – B (a) | | | 6,032 | |
| | |
| | 99 | | | Voya Financial, Inc. | | | 5 | |
| | | | | | | | |
| | | | | | | 6,415 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 1.03% | |
| | |
| | 65,735 | | | AT&T, Inc. | | | 2,203 | |
| | |
| | 228,443 | | | CenturyLink, Inc. | | | 2,686 | |
| | |
| | 58,986 | | | Verizon Communications, Inc. | | | 3,370 | |
| | | | | | | | |
| | | | | | | 8,259 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 0.58% | |
| | |
| | 28,713 | | | Edison International | | | 1,936 | |
| | |
| | 88,674 | | | PPL Corp. | | | 2,749 | |
| | | | | | | | |
| | | | | | | 4,685 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.21% | |
| | |
| | 5,157 | | | AMETEK, Inc. | | | 468 | |
| | |
| | 13,448 | | | Emerson Electric Co. | | | 897 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Electrical Equipment (continued) | |
| | |
| | 1,210 | | | Hubbell, Inc. | | $ | 158 | |
| | |
| | 931 | | | Rockwell Automation, Inc. | | | 153 | |
| | | | | | | | |
| | | | | | | 1,676 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 0.22% | |
| | |
| | 8,822 | | | Amphenol Corp., Class – A | | | 847 | |
| | |
| | 1,465 | | | CDW Corporation of Delaware | | | 163 | |
| | |
| | 2,490 | | | Cognex Corp. | | | 119 | |
| | |
| | 1,015 | | | Dolby Laboratories, Inc., Class – A | | | 66 | |
| | |
| | 3,517 | | | FLIR Systems, Inc. | | | 190 | |
| | |
| | 289 | | | IPG Photonics Corp. (a) | | | 45 | |
| | |
| | 3,147 | | | National Instruments Corp. | | | 132 | |
| | |
| | 1,757 | | | Trimble Navigation Ltd. (a) | | | 79 | |
| | |
| | 493 | | | Zebra Technologies Corp., Class – A (a) | | | 103 | |
| | | | | | | | |
| | | | | | | 1,744 | |
| | | | | | | | |
| |
| | | | Energy Equipment & Services — 0.01% | |
| | |
| | 1,606 | | | Apergy Corp. (a) | | | 54 | |
| | |
| | 2 | | | Dril-Quip, Inc. (a) | | | — | |
| | | | | | | | |
| | | | | | | 54 | |
| | | | | | | | |
| |
| | | | Entertainment — 1.56% | |
| | |
| | 24,761 | | | Netflix, Inc. (a) | | | 9,095 | |
| | |
| | 24,693 | | | The Walt Disney Co. | | | 3,448 | |
| | | | | | | | |
| | | | | | | 12,543 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 2.76% | |
| | |
| | 8,008 | | | American Tower Corp. | | | 1,637 | |
| | |
| | 151,568 | | | Apple Hospitality REIT, Inc. | | | 2,403 | |
| | |
| | 158,540 | | | Brandywine Realty Trust | | | 2,270 | |
| | |
| | 132,718 | | | Brixmor Property Group, Inc. | | | 2,373 | |
| | |
| | 103,101 | | | Colony Capital, Inc. | | | 516 | |
| | |
| | 217 | | | CoreCivic, Inc. | | | 5 | |
| | |
| | 12,245 | | | Crown Castle International Corp. | | | 1,596 | |
| | |
| | 16,745 | | | Equinix, Inc. | | | 8,443 | |
| | |
| | 804 | | | Equity Lifestyle Properties, Inc. | | | 98 | |
| | |
| | 19,565 | | | Kimco Realty Corp. | | | 362 | |
| | |
| | 11,741 | | | Outfront Media, Inc. | | | 303 | |
| | |
| | 112,279 | | | SITE Centers Corp. | | | 1,487 | |
| | |
| | 16,105 | | | Taubman Centers, Inc. | | | 658 | |
| | | | | | | | |
| | | | | | | 22,151 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 1.50% | |
| | |
| | 25,873 | | | Costco Wholesale Corp. | | | 6,836 | |
| | |
| | 11,718 | | | Sysco Corp. | | | 829 | |
| | |
| | 16,968 | | | Walgreens Boots Alliance, Inc. | | | 928 | |
| | |
| | 31,287 | | | Wal-Mart Stores, Inc. | | | 3,457 | |
| | | | | | | | |
| | | | | | | 12,050 | |
| | | | | | | | |
| |
| | | | Food Products — 1.33% | |
| | |
| | 70,463 | | | ConAgra Foods, Inc. | | | 1,869 | |
| | |
| | 3,603 | | | Flowers Foods, Inc. | | | 84 | |
| | |
| | 1,045 | | | Hershey Co. | | | 140 | |
| | |
| | 5,224 | | | Hormel Foods Corp. | | | 212 | |
| | |
| | 413 | | | Lamb Weston Holding, Inc. | | | 26 | |
| | |
| | 2,546 | | | McCormick & Company, Inc. | | | 395 | |
| | |
| | 142,800 | | | Mondelez International, Inc., Class – A | | | 7,696 | |
| | |
| | 2,332 | | | The J.M. Smucker Co. | | | 269 | |
| | | | | | | | |
| | | | | | | 10,691 | |
| | | | | | | | |
See accompanying notes to financial statements.
68
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Equipment & Supplies — 2.76% | |
| | |
| | 34,185 | | | Abbott Laboratories | | $ | 2,875 | |
| | |
| | 398 | | | Abiomed, Inc. (a) | | | 104 | |
| | |
| | 746 | | | Align Technology, Inc. (a) | | | 204 | |
| | |
| | 11,112 | | | Baxter International, Inc. | | | 910 | |
| | |
| | 6,721 | | | Becton, Dickinson & Co. | | | 1,694 | |
| | |
| | 12,668 | | | Boston Scientific Corp. (a) | | | 544 | |
| | |
| | 27,052 | | | Danaher Corp. | | | 3,866 | |
| | |
| | 694 | | | Dexcom, Inc. (a) | | | 104 | |
| | |
| | 15,828 | | | Edwards Lifesciences Corp. (a) | | | 2,924 | |
| | |
| | 584 | | | Hill-Rom Holdings, Inc. | | | 61 | |
| | |
| | 2,690 | | | IDEXX Laboratories, Inc. (a) | | | 741 | |
| | |
| | 8,866 | | | Intuitive Surgical, Inc. (a) | | | 4,651 | |
| | |
| | 1,225 | | | Medtronic PLC | | | 119 | |
| | |
| | 4,072 | | | ResMed, Inc. | | | 497 | |
| | |
| | 9,642 | | | Stryker Corp. | | | 1,982 | |
| | |
| | 85 | | | Teleflex, Inc. | | | 28 | |
| | |
| | 332 | | | The Cooper Companies, Inc. | | | 112 | |
| | |
| | 824 | | | Varex Imaging Corp. (a) | | | 25 | |
| | |
| | 2,841 | | | Varian Medical Systems, Inc. (a) | | | 387 | |
| | |
| | 3,346 | | | Zimmer Holdings, Inc. | | | 394 | |
| | | | | | | | |
| | | | | | | 22,222 | |
| | | | | | | | |
| |
| | | | Health Care Providers & Services — 2.69% | |
| | |
| | 5,215 | | | Anthem, Inc. | | | 1,472 | |
| | |
| | 418 | | | Centene Corp. (a) | | | 22 | |
| | |
| | 2,061 | | | Cigna Corp. | | | 325 | |
| | |
| | 1,313 | | | Covetrus, Inc. (a) | | | 32 | |
| | |
| | 22,394 | | | CVS Caremark Corp. | | | 1,220 | |
| | |
| | 10,019 | | | HCA Holdings, Inc. | | | 1,354 | |
| | |
| | 3,283 | | | Henry Schein, Inc. (a) | | | 229 | |
| | |
| | 1,265 | | | Humana, Inc. | | | 336 | |
| | |
| | 1,952 | | | Laboratory Corporation of America Holdings (a) | | | 338 | |
| | |
| | 4,595 | | | McKesson Corp. | | | 618 | |
| | |
| | 2,799 | | | Quest Diagnostics, Inc. | | | 285 | |
| | |
| | 62,468 | | | UnitedHealth Group, Inc. | | | 15,242 | |
| | |
| | 389 | | | WellCare Health Plans, Inc. (a) | | | 111 | |
| | | | | | | | |
| | | | | | | 21,584 | |
| | | | | | | | |
| |
| | | | Health Care Technology — 0.52% | |
| | |
| | 51,381 | | | Cerner Corp. | | | 3,766 | |
| | |
| | 2,596 | | | Veeva Systems, Inc. (a) | | | 421 | |
| | | | | | | | |
| | | | | | | 4,187 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 2.49% | |
| | |
| | 3,386 | | | Chipotle Mexican Grill, Inc. (a) | | | 2,482 | |
| | |
| | 1,046 | | | Choice Hotels International, Inc. | | | 91 | |
| | |
| | 419 | | | Domino’s Pizza, Inc. | | | 117 | |
| | |
| | 874 | | | Dunkin’ Brands Group, Inc. | | | 70 | |
| | |
| | 18,188 | | | Marriott International, Inc., Class – A | | | 2,552 | |
| | |
| | 18,816 | | | McDonald’s Corp. | | | 3,906 | |
| | |
| | 111,554 | | | Starbucks Corp. | | | 9,351 | |
| | |
| | 1,032 | | | The Wendy’s Co. | | | 20 | |
| | |
| | 310 | | | Vail Resorts, Inc. | | | 69 | |
| | |
| | 7,868 | | | Yum China Holdings, Inc. | | | 364 | |
| | |
| | 8,846 | | | YUM! Brands, Inc. | | | 979 | |
| | | | | | | | |
| | | | | | | 20,001 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Household Durables — 0.02% | |
| | |
| | 2,470 | | | Garmin Ltd. | | $ | 197 | |
| | | | | | | | |
| |
| | | | Household Products — 1.14% | |
| | |
| | 5,143 | | | Church & Dwight Co., Inc. | | | 376 | |
| | |
| | 17,683 | | | Colgate-Palmolive Co. | | | 1,267 | |
| | |
| | 7,129 | | | Kimberly-Clark Corp. | | | 950 | |
| | |
| | 30,424 | | | Spectrum Brands Holdings, Inc. | | | 1,636 | |
| | |
| | 2,554 | | | The Clorox Co. | | | 391 | |
| | |
| | 41,123 | | | The Procter & Gamble Co. | | | 4,509 | |
| | | | | | | | |
| | | | | | | 9,129 | |
| | | | | | | | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.00% | |
| | |
| | 541 | | | NRG Energy, Inc., Class – C | | | 19 | |
| | | | | | | | |
| |
| | | | Industrial Conglomerates — 0.97% | |
| | |
| | 12,543 | | | 3M Co. | | | 2,174 | |
| | |
| | 380,319 | | | General Electric Co. | | | 3,994 | |
| | |
| | 4,278 | | | Honeywell International, Inc. | | | 747 | |
| | |
| | 2,488 | | | Roper Industries, Inc. | | | 911 | |
| | | | | | | | |
| | | | | | | 7,826 | |
| | | | | | | | |
| |
| | | | Insurance — 0.84% | |
| | |
| | 7,992 | | | Aon PLC | | | 1,542 | |
| | |
| | 1,196 | | | Arthur J. Gallagher & Co. | | | 105 | |
| | |
| | 10,152 | | | Assurant, Inc. | | | 1,080 | |
| | |
| | 41,294 | | | Brighthouse Financial, Inc. (a) | | | 1,515 | |
| | |
| | 4,821 | | | Brown & Brown, Inc. | | | 162 | |
| | |
| | 171 | | | Erie Indemnity Co., Class – A | | | 43 | |
| | |
| | 15,337 | | | Marsh & McLennan Companies, Inc. | | | 1,529 | |
| | |
| | 5,631 | | | The Progressive Corp. | | | 450 | |
| | |
| | 2,499 | | | Torchmark Corp. | | | 224 | |
| | |
| | 2,106 | | | Unum Group | | | 71 | |
| | | | | | | | |
| | | | | | | 6,721 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 5.90% | |
| | |
| | 11,939 | | | Alphabet, Inc., Class – A (a) | | | 12,928 | |
| | |
| | 15,384 | | | Alphabet, Inc., Class – C (a) | | | 16,628 | |
| | |
| | 67,760 | | | Facebook, Inc., Class – A (a) | | | 13,077 | |
| | |
| | 646 | | | InterActive Corp. (a) | | | 141 | |
| | |
| | 344 | | | Match Group, Inc. | | | 23 | |
| | |
| | 100,931 | | | Tencent Holdings Ltd., ADR | | | 4,568 | |
| | |
| | 36 | | | TripAdvisor, Inc. (a) | | | 2 | |
| | | | | | | | |
| | | | | | | 47,367 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 5.10% | |
| | |
| | 32,140 | | | Alibaba Group Holding Ltd., ADR (a) | | | 5,446 | |
| | |
| | 15,219 | | | Amazon.com, Inc. (a) | | | 28,819 | |
| | |
| | 3,568 | | | Booking Holdings, Inc. (a) | | | 6,689 | |
| | | | | | | | |
| | | | | | | 40,954 | |
| | | | | | | | |
| |
| | | | IT Services — 11.96% | |
| | |
| | 12,377 | | | Accenture PLC, Class – A | | | 2,287 | |
| | |
| | 77,419 | | | Automatic Data Processing, Inc. | | | 12,800 | |
| | |
| | 1,297 | | | Booz Allen Hamilton Holding Corp. | | | 86 | |
| | |
| | 3,472 | | | Broadridge Financial Solutions, Inc. | | | 443 | |
| | |
| | 12,000 | | | Cognizant Technology Solutions Corp. | | | 761 | |
| | |
| | 1,695 | | | Fidelity National Information Services, Inc. | | | 208 | |
| | |
| | 4,581 | | | First Data Corp. (a) | | | 124 | |
| | |
| | 4,024 | | | Fiserv, Inc. (a) | | | 367 | |
| | |
| | 56,674 | | | FleetCor Technologies, Inc. (a) | | | 15,917 | |
See accompanying notes to financial statements.
69
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | IT Services (continued) | |
| | |
| | 3,976 | | | Global Payments, Inc. | | $ | 637 | |
| | |
| | 1,209 | | | GoDaddy, Inc., Class – A (a) | | | 85 | |
| | |
| | 17,954 | | | International Business Machines Corp. | | | 2,476 | |
| | |
| | 2,207 | | | Jack Henry & Associates, Inc. | | | 296 | |
| | |
| | 61,641 | | | MasterCard, Inc., Class – A | | | 16,305 | |
| | |
| | 19,033 | | | Okta, Inc. (a) | | | 2,351 | |
| | |
| | 6,384 | | | Paychex, Inc. | | | 525 | |
| | |
| | 71,888 | | | PayPal Holdings, Inc. (a) | | | 8,228 | |
| | |
| | 32,138 | | | Square, Inc., Class – A (a) | | | 2,331 | |
| | |
| | 4,973 | | | Total System Services, Inc. | | | 638 | |
| | |
| | 7,858 | | | Twilio, Inc., Class – A (a) | | | 1,071 | |
| | |
| | 854 | | | VeriSign, Inc. (a) | | | 179 | |
| | |
| | 158,651 | | | Visa, Inc., Class – A | | | 27,533 | |
| | |
| | 304 | | | WEX, Inc. (a) | | | 63 | |
| | |
| | 2,790 | | | Worldpay, Inc., Class – A (a) | | | 342 | |
| | | | | | | | |
| | | | | | | 96,053 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.02% | |
| | |
| | 1,422 | | | Polaris Industries, Inc. | | | 130 | |
| | | | | | | | |
| |
| | | | Life Sciences Tools & Services — 1.15% | |
| | |
| | 754 | | | Agilent Technologies, Inc. | | | 56 | |
| | |
| | 1,141 | | | Bio-Techne Corp. | | | 238 | |
| | |
| | 440 | | | Bruker Biosciences Corp. | | | 22 | |
| | |
| | 447 | | | Charles River Laboratories International, Inc. (a) | | | 63 | |
| | |
| | 12,781 | | | Illumina, Inc. (a) | | | 4,706 | |
| | |
| | 817 | | | IQVIA Holdings, Inc. (a) | | | 131 | |
| | |
| | 785 | | | Mettler-Toledo International, Inc. (a) | | | 659 | |
| | |
| | 239 | | | PerkinElmer, Inc. | | | 23 | |
| | |
| | 9,568 | | | Thermo Electron Corp. | | | 2,811 | |
| | |
| | 2,297 | | | Waters Corp. (a) | | | 494 | |
| | | | | | | | |
| | | | | | | 9,203 | |
| | | | | | | | |
| |
| | | | Machinery — 0.97% | |
| | |
| | 14,552 | | | Allison Transmission Holdings, Inc. | | | 674 | |
| | |
| | 4,926 | | | Caterpillar, Inc. | | | 671 | |
| | |
| | 1,017 | | | Crane Co. | | | 85 | |
| | |
| | 16,520 | | | Deere & Co. | | | 2,738 | |
| | |
| | 2,856 | | | Donaldson Company, Inc. | | | 145 | |
| | |
| | 3,369 | | | Dover Corp. | | | 338 | |
| | |
| | 6,615 | | | Fortive Corp. | | | 539 | |
| | |
| | 1,569 | | | Graco, Inc. | | | 79 | |
| | |
| | 2,179 | | | IDEX Corp. | | | 375 | |
| | |
| | 8,257 | | | Illinois Tool Works, Inc. | | | 1,245 | |
| | |
| | 1,218 | | | Ingersoll-Rand PLC | | | 155 | |
| | |
| | 506 | | | Nordson, Inc. | | | 72 | |
| | |
| | 17 | | | Snap-on, Inc. | | | 3 | |
| | |
| | 927 | | | The Toro Co. | | | 62 | |
| | |
| | 453 | | | WABCO Holdings, Inc. (a) | | | 60 | |
| | |
| | 2,031 | | | Wabtec Corp. | | | 146 | |
| | |
| | 4,438 | | | Xylem, Inc. | | | 371 | |
| | | | | | | | |
| | | | | | | 7,758 | |
| | | | | | | | |
| |
| | | | Marine — 0.01% | |
| | |
| | 1,159 | | | Kirby Corp. (a) | | | 92 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Media — 0.19% | |
| | |
| | 25,864 | | | Comcast Corp., Class – A | | $ | 1,094 | |
| | |
| | 2,004 | | | Discovery Communications, Inc., Class – C (a) | | | 57 | |
| | |
| | 4,801 | | | Omnicom Group, Inc. | | | 393 | |
| | | | | | | | |
| | | | | | | 1,544 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.31% | |
| | |
| | 369 | | | Steel Dynamics, Inc. | | | 11 | |
| | |
| | 162,396 | | | United States Steel Corp. | | | 2,486 | |
| | | | | | | | |
| | | | | | | 2,497 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.89% | |
| | |
| | 125,623 | | | Chimera Investment Corp. | | | 2,371 | |
| | |
| | 332,071 | | | MFA Financial, Inc. | | | 2,384 | |
| | |
| | 106,761 | | | Starwood Property Trust, Inc. | | | 2,425 | |
| | | | | | | | |
| | | | | | | 7,180 | |
| | | | | | | | |
| |
| | | | Multiline Retail — 0.09% | |
| | |
| | 939 | | | Dollar General Corp. | | | 127 | |
| | |
| | 4,517 | | | Dollar Tree, Inc. (a) | | | 485 | |
| | |
| | 2,952 | | | Kohl’s Corp. | | | 140 | |
| | | | | | | | |
| | | | | | | 752 | |
| | | | | | | | |
| |
| | | | Multi-Utilities — 0.21% | |
| | |
| | 21,844 | | | Dominion Resources, Inc. | | | 1,689 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 2.04% | |
| | |
| | 188,298 | | | Antero Midstream Corp. | | | 2,158 | |
| | |
| | 422,967 | | | Antero Resources Corp. (a) | | | 2,339 | |
| | |
| | 1,313 | | | Cheniere Energy, Inc. (a) | | | 90 | |
| | |
| | 36,263 | | | Chevron Corp. | | | 4,512 | |
| | |
| | 53,631 | | | Exxon Mobil Corp. | | | 4,110 | |
| | |
| | 11,537 | | | ONEOK, Inc. | | | 794 | |
| | |
| | 335,683 | | | Range Resources Corp. | | | 2,343 | |
| | | | | | | | |
| | | | | | | 16,346 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.93% | |
| | |
| | 189,463 | | | Coty, Inc., Class – A | | | 2,539 | |
| | |
| | 1,318 | | | Herbalife Ltd. (a) | | | 56 | |
| | |
| | 26,361 | | | The Estee Lauder Companies, Inc., Class – A | | | 4,827 | |
| | | | | | | | |
| | | | | | | 7,422 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 2.24% | |
| | |
| | 77,806 | | | AstraZeneca PLC, ADR | | | 3,212 | |
| | |
| | 19,396 | | | Eli Lilly & Co. | | | 2,149 | |
| | |
| | 31,685 | | | Johnson & Johnson | | | 4,413 | |
| | |
| | 55,581 | | | Merck & Co., Inc. | | | 4,660 | |
| | |
| | 3,179 | | | Mylan N.V. (a) | | | 61 | |
| | |
| | 56,590 | | | Novo Nordisk A/S, Class – B, ADR | | | 2,888 | |
| | |
| | 4,788 | | | Zoetis, Inc. | | | 543 | |
| | | | | | | | |
| | | | | | | 17,926 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.23% | |
| | |
| | 331 | | | CoStar Group, Inc. (a) | | | 183 | |
| | |
| | 2,353 | | | Equifax, Inc. | | | 318 | |
| | |
| | 4,977 | | | IHS Markit Ltd. (a) | | | 317 | |
| | |
| | 4,001 | | | Robert Half International, Inc. | | | 228 | |
| | |
| | 1,517 | | | TransUnion Holding Company, Inc. | | | 112 | |
| | |
| | 4,817 | | | Versik Analytics, Inc., Class – A | | | 706 | |
| | | | | | | | |
| | | | | | | 1,864 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.01% | |
| | |
| | 1,272 | | | CBRE Group, Inc., Class – A (a) | | | 65 | |
| | | | | | | | |
See accompanying notes to financial statements.
70
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Road & Rail — 1.58% | |
| | |
| | 57,529 | | | CSX Corp. | | $ | 4,451 | |
| | |
| | 1,303 | | | Landstar System, Inc. | | | 141 | |
| | |
| | 375 | | | Old Dominion Freight Line, Inc. | | | 56 | |
| | |
| | 18,586 | | | Uber Technologies, Inc. (a) | | | 862 | |
| | |
| | 42,229 | | | Union Pacific Corp. | | | 7,141 | |
| | | | | | | | |
| | | | | | | 12,651 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 2.97% | |
| | |
| | 96,872 | | | Advanced Micro Devices, Inc. (a) | | | 2,942 | |
| | |
| | 7,262 | | | Analog Devices, Inc. | | | 820 | |
| | |
| | 6,209 | | | Applied Materials, Inc. | | | 279 | |
| | |
| | 12,720 | | | Broadcom, Inc. | | | 3,662 | |
| | |
| | 94,338 | | | Intel Corp. | | | 4,516 | |
| | |
| | 1,378 | | | KLA-Tencor Corp. | | | 163 | |
| | |
| | 1,153 | | | Lam Research Corp. | | | 217 | |
| | |
| | 28,189 | | | Marvell Technology Group Ltd. | | | 673 | |
| | |
| | 2,547 | | | Maxim Integrated Products, Inc. | | | 152 | |
| | |
| | 1,854 | | | Microchip Technology, Inc. | | | 161 | |
| | |
| | 7,602 | | | Micron Technology, Inc. (a) | | | 293 | |
| | |
| | 23,763 | | | NVIDIA Corp. | | | 3,903 | |
| | |
| | 3,857 | | | ON Semiconductor Corp. (a) | | | 78 | |
| | |
| | 59,739 | | | Qualcomm, Inc. | | | 4,543 | |
| | |
| | 9,164 | | | Texas Instruments, Inc. | | | 1,052 | |
| | |
| | 2,371 | | | Versum Materials, Inc. | | | 122 | |
| | |
| | 2,830 | | | Xilinx, Inc. | | | 334 | |
| | | | | | | | |
| | | | | | | 23,910 | |
| | | | | | | | |
| |
| | | | Software — 13.26% | |
| | |
| | 26,707 | | | Adobe Systems, Inc. (a) | | | 7,869 | |
| | |
| | 1,974 | | | ANSYS, Inc. (a) | | | 404 | |
| | |
| | 908 | | | Atlassian Corp. PLC, Class – A (a) | | | 119 | |
| | |
| | 1,566 | | | Autodesk, Inc. (a) | | | 255 | |
| | |
| | 3,967 | | | Citrix Systems, Inc. | | | 389 | |
| | |
| | 1,303 | | | Fortinet, Inc. (a) | | | 100 | |
| | |
| | 5,422 | | | Intuit, Inc. | | | 1,417 | |
| | |
| | 317,747 | | | Microsoft Corp. | | | 42,566 | |
| | |
| | 63,347 | | | Oracle Corp. | | | 3,609 | |
| | |
| | 1,114 | | | PTC, Inc. (a) | | | 100 | |
| | |
| | 54,692 | | | Red Hat, Inc. (a) | | | 10,269 | |
| | |
| | 121,617 | | | Salesforce.com, Inc. (a) | | | 18,453 | |
| | |
| | 74,771 | | | SAP AG, ADR | | | 10,229 | |
| | |
| | 12,101 | | | ServiceNow, Inc. (a) | | | 3,323 | |
| | |
| | 19,745 | | | Splunk, Inc. (a) | | | 2,483 | |
| | |
| | 1,505 | | | SS&C Technologies Holdings, Inc. | | | 87 | |
| | |
| | 151 | | | Synopsys, Inc. (a) | | | 19 | |
| | |
| | 1,831 | | | VMware, Inc., Class – A | | | 306 | |
| | |
| | 21,549 | | | Workday, Inc., Class – A (a) | | | 4,430 | |
| | | | | | | | |
| | | | | | | 106,427 | |
| | | | | | | | |
| |
| | | | Specialty Retail — 4.07% | |
| | |
| | 1,357 | | | Aaron’s, Inc. | | | 83 | |
| | |
| | 1,475 | | | Advance Auto Parts, Inc. | | | 227 | |
| | |
| | 597 | | | AutoZone, Inc. (a) | | | 656 | |
| | |
| | 6,005 | | | Best Buy Co., Inc. | | | 419 | |
| | |
| | 376 | | | Burlington Stores, Inc. (a) | | | 64 | |
| | |
| | 1,902 | | | Dick’s Sporting Goods, Inc. | | | 66 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Specialty Retail (continued) | |
| | |
| | 77,792 | | | Lowe’s Companies, Inc. | | $ | 7,850 | |
| | |
| | 1,946 | | | O’Reilly Automotive, Inc. (a) | | | 719 | |
| | |
| | 9,045 | | | Ross Stores, Inc. | | | 897 | |
| | |
| | 26,585 | | | The Home Depot, Inc. | | | 5,529 | |
| | |
| | 159,890 | | | The TJX Companies, Inc. | | | 8,455 | |
| | |
| | 2,234 | | | Tiffany & Co. | | | 209 | |
| | |
| | 1,256 | | | Tractor Supply Co. | | | 137 | |
| | |
| | 21,180 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | | | 7,347 | |
| | | | | | | | |
| | | | | | | 32,658 | |
| | | | | | | | |
| |
| | | | Technology Hardware, Storage & Peripherals — 3.46% | |
| | |
| | 118,970 | | | Apple, Inc. | | | 23,546 | |
| | |
| | 2,245 | | | NetApp, Inc. | | | 139 | |
| | |
| | 38,672 | | | Western Digital Corp. | | | 1,839 | |
| | |
| | 62,681 | | | Xerox Corp. | | | 2,219 | |
| | | | | | | | |
| | | | | | | 27,743 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 2.11% | |
| | |
| | 49,350 | | | Kering SA, ADR | | | 2,912 | |
| | |
| | 960 | | | Kontoor Brands, Inc. (a) | | | 27 | |
| | |
| | 16,062 | | | Lululemon Athletica, Inc. (a) | | | 2,895 | |
| | |
| | 120,028 | | | NIKE, Inc., Class – B | | | 10,077 | |
| | |
| | 1,252 | | | Ralph Lauren Corp. | | | 142 | |
| | |
| | 4,830 | | | Tapestry, Inc. | | | 153 | |
| | |
| | 3,743 | | | Under Armour, Inc., Class – A (a) | | | 95 | |
| | |
| | 3,770 | | | Under Armour, Inc., Class – C (a) | | | 84 | |
| | |
| | 6,722 | | | V.F. Corp. | | | 587 | |
| | | | | | | | |
| | | | | | | 16,972 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.06% | |
| | |
| | 44,576 | | | New York Community Bancorp, Inc. | | | 445 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.30% | |
| | |
| | 30,396 | | | Philip Morris International, Inc. | | | 2,387 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 0.11% | |
| | |
| | 14,448 | | | Fastenal Co. | | | 470 | |
| | |
| | 983 | | | MSC Industrial Direct Co., Inc., Class – A | | | 73 | |
| | |
| | 1,221 | | | W.W. Grainger, Inc. | | | 328 | |
| | | | | | | | |
| | | | | | | 871 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.02% | |
| | |
| | 3,658 | | | Macquarie Infrastructure Corp. | | | 148 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 777,094 | |
| | | | | | | | |
| |
| | | | Exchange-Traded Fund — 0.18% | |
| | |
| | 9,327 | | | iShares Russell 1000 Growth ETF | | | 1,468 | |
| | | | | | | | |
| | | | Total Exchange-Traded Fund | | | 1,468 | |
| | | | | | | | |
| |
| | | | Investment Companies — 2.48% | |
| | |
| | 1,264,408 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (c) | | | 1,264 | |
| | |
| | 18,657,848 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (c) | | | 18,658 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 19,922 | |
| | | | | | | | |
See accompanying notes to financial statements.
71
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Value
(000) | |
| |
| | | | Repurchase Agreement — 0.22% | |
| | |
| $ | 1,761 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,761,709 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $1,796,574)^^ | | $ | 1,761 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 1,761 | |
| | | | | | | | |
| | | | Total Investments
(cost $400,102) — 99.68% | | | 800,245 | |
| | | | Other assets in excess of
liabilities — 0.32% | | | 2,593 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 802,838 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $2,972 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The Growth Equity Portfolio | | Jennison
Associates, LLC | | | Parametric
Portfolio
Associates, LLC | | | Total | |
Common Stocks | | | 24.60 | % | | | 72.20 | % | | | 96.80 | % |
| | | |
Exchange-Traded Fund | | | 0.18 | % | | | — | | | | 0.18 | % |
| | | |
Investment Companies | | | 0.16 | % | | | 2.32 | % | | | 2.48 | % |
| | | |
Repurchase Agreement | | | 0.22 | % | | | — | | | | 0.22 | % |
| | | |
Other Assets (Liabilities) | | | 0.12 | % | | | 0.20 | % | | | 0.32 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 25.28 | % | | | 74.72 | % | | | 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 June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
E-Mini Nasdaq 100 Future | | 45 | | | 9/20/19 | | | $ | 6,924 | | | $ | 130 | |
E-Mini S&P 500 Future | | 64 | | | 9/20/19 | | | | 9,421 | | | | 146 | |
E-Mini S&P Midcap 400 Future | | 1 | | | 9/20/19 | | | | 195 | | | | 5 | |
| | | | | | | | | | | | | | |
| | | | | $ | 16,540 | | | $ | 281 | |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 281 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 281 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
72
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 94.41% | |
| |
| | | | Aerospace & Defense — 3.28% | |
| | |
| | 89,191 | | | Airbus SE, ADR | | $ | 3,154 | |
| | |
| | 8,210 | | | Arconic, Inc. | | | 212 | |
| | |
| | 4,319 | | | BWX Technologies, Inc. | | | 225 | |
| | |
| | 832 | | | Curtiss-Wright Corp. | | | 106 | |
| | |
| | 6,408 | | | General Dynamics Corp. | | | 1,165 | |
| | |
| | 6,053 | | | Harris Corp. | | | 1,145 | |
| | |
| | 2,001 | | | HEICO Corp. | | | 268 | |
| | |
| | 5,619 | | | HEICO Corp., Class – A | | | 581 | |
| | |
| | 4,135 | | | Hexcel Corp. | | | 334 | |
| | |
| | 2,182 | | | Huntington Ingalls Industries, Inc. | | | 490 | |
| | |
| | 2,497 | | | L3 Technologies, Inc. | | | 612 | |
| | |
| | 13,882 | | | Lockheed Martin Corp. | | | 5,047 | |
| | |
| | 9,260 | | | Northrop Grumman Corp. | | | 2,992 | |
| | |
| | 13,176 | | | Raytheon Co. | | | 2,291 | |
| | |
| | 130,245 | | | Safran SA, ADR | | | 4,756 | |
| | |
| | 5,183 | | | Spirit Aerosystems Holdings, Inc., Class – A | | | 422 | |
| | |
| | 683 | | | Teledyne Technologies, Inc. (a) | | | 187 | |
| | |
| | 4,703 | | | Textron, Inc. | | | 249 | |
| | |
| | 54,835 | | | The Boeing Co. | | | 19,961 | |
| | |
| | 5,602 | | | TransDigm Group, Inc. (a) | | | 2,710 | |
| | |
| | 27,245 | | | United Technologies Corp. | | | 3,547 | |
| | | | | | | | |
| | | | | | | 50,454 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.42% | |
| | |
| | 9,659 | | | C.H. Robinson Worldwide, Inc. | | | 815 | |
| | |
| | 8,907 | | | Expeditors International of Washington, Inc. | | | 676 | |
| | |
| | 4,745 | | | FedEx Corp. | | | 779 | |
| | |
| | 37,280 | | | United Parcel Service, Inc., Class – B | | | 3,849 | |
| | |
| | 4,735 | | | XPO Logistics, Inc. (a) | | | 274 | |
| | | | | | | | |
| | | | | | | 6,393 | |
| | | | | | | | |
| |
| | | | Airlines — 0.22% | |
| | |
| | 4,010 | | | Alaska Air Group, Inc. | | | 256 | |
| | |
| | 9,409 | | | American Airlines Group, Inc. | | | 307 | |
| | |
| | 870 | | | Copa Holdings SA, Class – A | | | 85 | |
| | |
| | 16,443 | | | Delta Air Lines, Inc. | | | 933 | |
| | |
| | 6,630 | | | JetBlue Airways Corp. (a) | | | 123 | |
| | |
| | 20,097 | | | Southwest Airlines Co. | | | 1,021 | |
| | |
| | 6,573 | | | United Continental Holdings, Inc. (a) | | | 575 | |
| | | | | | | | |
| | | | | | | 3,300 | |
| | | | | | | | |
| |
| | | | Auto Components — 0.07% | |
| | |
| | 1,790 | | | Adient PLC | | | 43 | |
| | |
| | 6,126 | | | Aptiv PLC | | | 495 | |
| | |
| | 4,047 | | | BorgWarner, Inc. | | | 169 | |
| | |
| | 1,565 | | | Garrett Motion, Inc. (a) | | | 24 | |
| | |
| | 5,002 | | | Gentex Corp. | | | 123 | |
| | |
| | 4,428 | | | Goodyear Tire & Rubber Co. | | | 68 | |
| | |
| | 1,218 | | | Lear Corp. | | | 170 | |
| | |
| | 555 | | | Visteon Corp. (a) | | | 33 | |
| | | | | | | | |
| | | | | | | 1,125 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.64% | |
| | |
| | 10,703 | | | Ferrari N.V. | | | 1,728 | |
| | |
| | 75,870 | | | Ford Motor Co. | | | 776 | |
| | |
| | 25,434 | | | General Motors Co. | | | 980 | |
| | |
| | 3,098 | | | Harley-Davidson, Inc. | | | 111 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Automobiles (continued) | |
| | |
| | 27,542 | | | Tesla Motors, Inc.^ (a) | | $ | 6,154 | |
| | |
| | 954 | | | Thor Industries, Inc. | | | 56 | |
| | | | | | | | |
| | | | | | | 9,805 | |
| | | | | | | | |
| |
| | | | Banks — 2.28% | |
| | |
| | 3,134 | | | Associated Banc-Corp. | | | 66 | |
| | |
| | 229,367 | | | Bank of America Corp. | | | 6,653 | |
| | |
| | 784 | | | Bank of Hawaii Corp. | | | 65 | |
| | |
| | 2,305 | | | Bank OZK | | | 69 | |
| | |
| | 1,873 | | | BankUnited, Inc. | | | 63 | |
| | |
| | 16,619 | | | BB&T Corp. | | | 816 | |
| | |
| | 618 | | | BOK Financial Corp. | | | 47 | |
| | |
| | 2,205 | | | CIT Group, Inc. | | | 116 | |
| | |
| | 69,928 | | | Citigroup, Inc. | | | 4,898 | |
| | |
| | 9,055 | | | Citizens Financial Group, Inc. | | | 320 | |
| | |
| | 3,730 | | | Comerica, Inc. | | | 271 | |
| | |
| | 1,885 | | | Commerce Bancshares, Inc. | | | 112 | |
| | |
| | 1,275 | | | Cullen/Frost Bankers, Inc. | | | 119 | |
| | |
| | 2,735 | | | East West Bancorp, Inc. | | | 128 | |
| | |
| | 14,824 | | | Fifth Third Bancorp | | | 414 | |
| | |
| | 149 | | | First Citizens BancShares, Inc., Class – A | | | 67 | |
| | |
| | 2,576 | | | First Hawaiian, Inc. | | | 67 | |
| | |
| | 6,005 | | | First Horizon National Corp. | | | 90 | |
| | |
| | 5,008 | | | First Republic Bank | | | 489 | |
| | |
| | 6,130 | | | FNB Corp. | | | 72 | |
| | |
| | 20,262 | | | Huntington Bancshares, Inc. | | | 280 | |
| | |
| | 81,228 | | | JPMorgan Chase & Co. | | | 9,082 | |
| | |
| | 19,689 | | | KeyCorp | | | 349 | |
| | |
| | 3,271 | | | M&T Bank Corp. | | | 556 | |
| | |
| | 2,327 | | | PacWest Bancorp | | | 90 | |
| | |
| | 12,780 | | | People’s United Financial, Inc. | | | 214 | |
| | |
| | 1,421 | | | Pinnacle Financial Partners, Inc. | | | 82 | |
| | |
| | 8,896 | | | PNC Financial Services Group, Inc. | | | 1,221 | |
| | |
| | 2,177 | | | Popular, Inc. | | | 118 | |
| | |
| | 1,260 | | | Prosperity Bancshares, Inc. | | | 83 | |
| | |
| | 19,910 | | | Regions Financial Corp. | | | 297 | |
| | |
| | 2,583 | | | Signature Bank | | | 312 | |
| | |
| | 4,085 | | | Sterling Bancorp/DE | | | 87 | |
| | |
| | 8,716 | | | SunTrust Banks, Inc. | | | 548 | |
| | |
| | 1,239 | | | SVB Financial Group (a) | | | 278 | |
| | |
| | 3,588 | | | Synovus Financial Corp. | | | 126 | |
| | |
| | 3,065 | | | TCF Financial Corp. | | | 64 | |
| | |
| | 953 | | | Texas Capital Bancshares, Inc. (a) | | | 58 | |
| | |
| | 33,430 | | | U.S. Bancorp | | | 1,752 | |
| | |
| | 4,158 | | | Umpqua Holdings Corp. | | | 69 | |
| | |
| | 1,731 | | | Webster Financial Corp. | | | 83 | |
| | |
| | 82,353 | | | Wells Fargo & Co. | | | 3,897 | |
| | |
| | 2,346 | | | Western Alliance Bancorp (a) | | | 105 | |
| | |
| | 1,059 | | | Wintrust Financial Corp. | | | 77 | |
| | |
| | 3,608 | | | Zions Bancorp | | | 166 | |
| | | | | | | | |
| | | | | | | 34,936 | |
| | | | | | | | |
| |
| | | | Beverages — 1.44% | |
| | |
| | 2,593 | | | Brown-Forman Corp., Class – A | | | 143 | |
| | |
| | 15,855 | | | Brown-Forman Corp., Class – B | | | 879 | |
| | |
| | 4,686 | | | Constellation Brands, Inc., Class – A | | | 923 | |
| | |
| | 3,542 | | | Keurig Dr Pepper, Inc. | | | 102 | |
See accompanying notes to financial statements.
73
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Beverages (continued) | |
| | |
| | 8,950 | | | Molson Coors Brewing Co., Class – B | | $ | 501 | |
| | |
| | 23,950 | | | Monster Beverage Corp. (a) | | | 1,529 | |
| | |
| | 70,553 | | | PepsiCo, Inc. | | | 9,251 | |
| | |
| | 171,584 | | | The Coca-Cola Co. | | | 8,737 | |
| | | | | | | | |
| | | | | | | 22,065 | |
| | | | | | | | |
| |
| | | | Biotechnology — 2.76% | |
| | |
| | 79,548 | | | AbbVie, Inc. | | | 5,785 | |
| | |
| | 1,267 | | | Agios Pharmaceuticals, Inc. (a) | | | 63 | |
| | |
| | 42,548 | | | Alexion Pharmaceuticals, Inc. (a) | | | 5,573 | |
| | |
| | 2,915 | | | Alkermes PLC (a) | | | 66 | |
| | |
| | 4,748 | | | Alnylam Pharmaceuticals, Inc. (a) | | | 345 | |
| | |
| | 31,269 | | | Amgen, Inc. | | | 5,762 | |
| | |
| | 6,418 | | | Biogen Idec, Inc. (a) | | | 1,501 | |
| | |
| | 42,075 | | | BioMarin Pharmaceutical, Inc. (a) | | | 3,604 | |
| | |
| | 1,025 | | | Bluebird Bio, Inc. (a) | | | 130 | |
| | |
| | 37,796 | | | Celgene Corp. (a) | | | 3,494 | |
| | |
| | 14,825 | | | Exact Sciences Corp. (a) | | | 1,750 | |
| | |
| | 10,071 | | | Exelixis, Inc. (a) | | | 215 | |
| | |
| | 33,376 | | | Gilead Sciences, Inc. | | | 2,255 | |
| | |
| | 9,398 | | | Incyte Corp. (a) | | | 798 | |
| | |
| | 6,695 | | | Ionis Pharmaceuticals, Inc. (a) | | | 430 | |
| | |
| | 1,079 | | | Moderna, Inc. (a) | | | 16 | |
| | |
| | 4,659 | | | Neurocrine Biosciences, Inc. (a) | | | 393 | |
| | |
| | 2,343 | | | Regeneron Pharmaceuticals, Inc. (a) | | | 733 | |
| | |
| | 11,366 | | | Sage Therapeutics, Inc. (a) | | | 2,081 | |
| | |
| | 3,612 | | | Sarepta Therapeutics, Inc. (a) | | | 549 | |
| | |
| | 5,651 | | | Seattle Genetics, Inc. (a) | | | 391 | |
| | |
| | 814 | | | United Therapeutics Corp. (a) | | | 64 | |
| | |
| | 35,451 | | | Vertex Pharmaceuticals, Inc. (a) | | | 6,502 | |
| | | | | | | | |
| | | | | | | 42,500 | |
| | | | | | | | |
| |
| | | | Building Products — 0.18% | |
| | |
| | 3,747 | | | A.O. Smith Corp. | | | 177 | |
| | |
| | 4,190 | | | Allegion PLC | | | 463 | |
| | |
| | 2,450 | | | Armstrong World Industries, Inc. | | | 238 | |
| | |
| | 4,228 | | | Fortune Brands Home & Security, Inc. | | | 242 | |
| | |
| | 17,752 | | | Johnson Controls International PLC | | | 732 | |
| | |
| | 2,100 | | | Lennox International, Inc. | | | 578 | |
| | |
| | 5,712 | | | Masco Corp. | | | 224 | |
| | |
| | 2,055 | | | Owens Corning, Inc. | | | 120 | |
| | |
| | 2,354 | | | Resideo Technologies, Inc. (a) | | | 52 | |
| | | | | | | | |
| | | | | | | 2,826 | |
| | | | | | | | |
| |
| | | | Capital Markets — 1.83% | |
| | |
| | 998 | | | Affiliated Managers Group, Inc. | | | 92 | |
| | |
| | 3,279 | | | Ameriprise Financial, Inc. | | | 476 | |
| | |
| | 17,291 | | | Bank of New York Mellon Corp. | | | 763 | |
| | |
| | 5,244 | | | BGC Partners, Inc., Class – A | | | 27 | |
| | |
| | 2,352 | | | BlackRock, Inc., Class – A | | | 1,104 | |
| | |
| | 7,047 | | | CBOE Holdings, Inc. | | | 730 | |
| | |
| | 8,659 | | | CME Group, Inc. | | | 1,681 | |
| | |
| | 6,368 | | | E*Trade Financial Corp. | | | 284 | |
| | |
| | 2,140 | | | Eaton Vance Corp. | | | 92 | |
| | |
| | 1,325 | | | Evercore Partners, Inc., Class – A | | | 117 | |
| | |
| | 2,350 | | | FactSet Research Systems, Inc. | | | 673 | |
| | |
| | 5,839 | | | Franklin Resources, Inc. | | | 203 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Capital Markets (continued) | |
| | |
| | 6,780 | | | Goldman Sachs Group, Inc. | | $ | 1,387 | |
| | |
| | 29,576 | | | Interactive Brokers Group, Inc., Class – A | | | 1,603 | |
| | |
| | 21,563 | | | Intercontinental Exchange Group, Inc. | | | 1,853 | |
| | |
| | 7,854 | | | Invesco Ltd. | | | 161 | |
| | |
| | 4,359 | | | Lazard Ltd., Class – A | | | 150 | |
| | |
| | 1,615 | | | Legg Mason, Inc. | | | 62 | |
| | |
| | 4,376 | | | LPL Financial Holdings, Inc. | | | 357 | |
| | |
| | 3,093 | | | MarketAxess Holdings, Inc. | | | 994 | |
| | |
| | 8,758 | | | Moody’s Corp. | | | 1,711 | |
| | |
| | 23,587 | | | Morgan Stanley | | | 1,033 | |
| | |
| | 1,149 | | | Morningstar, Inc. | | | 166 | |
| | |
| | 4,351 | | | MSCI, Inc. Common | | | 1,039 | |
| | |
| | 4,109 | | | Northern Trust Corp. | | | 370 | |
| | |
| | 3,478 | | | Raymond James Financial, Inc. | | | 294 | |
| | |
| | 27,008 | | | S&P Global, Inc. | | | 6,153 | |
| | |
| | 4,760 | | | SEI Investments Co. | | | 267 | |
| | |
| | 7,289 | | | State Street Corp. | | | 409 | |
| | |
| | 7,100 | | | T. Rowe Price Group, Inc. | | | 779 | |
| | |
| | 13,456 | | | TD Ameritrade Holding Corp. | | | 672 | |
| | |
| | 48,600 | | | The Charles Schwab Corp. | | | 1,954 | |
| | |
| | 4,838 | | | The Nasdaq OMX Group, Inc. | | | 465 | |
| | |
| | 1,585 | | | Virtu Financial, Inc., Class – A | | | 35 | |
| | | | | | | | |
| | | | | | | 28,156 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.01% | |
| | |
| | 5,767 | | | Air Products & Chemicals, Inc. | | | 1,305 | |
| | |
| | 2,011 | | | Albemarle Corp. | | | 142 | |
| | |
| | 1,180 | | | Ashland Global Holdings, Inc. | | | 94 | |
| | |
| | 12,834 | | | Axalta Coating Systems Ltd. (a) | | | 382 | |
| | |
| | 1,120 | | | Cabot Corp. | | | 53 | |
| | |
| | 2,494 | | | Celanese Corp., Series A | | | 269 | |
| | |
| | 5,549 | | | CF Industries Holdings, Inc. | | | 259 | |
| | |
| | 14,661 | | | Corteva, Inc. | | | 434 | |
| | |
| | 14,705 | | | Dow, Inc. | | | 725 | |
| | |
| | 14,711 | | | DuPont de Nemours, Inc. | | | 1,104 | |
| | |
| | 2,690 | | | Eastman Chemical Co. | | | 209 | |
| | |
| | 14,375 | | | Ecolab, Inc. | | | 2,838 | |
| | |
| | 7,232 | | | Element Solutions, Inc. (a) | | | 75 | |
| | |
| | 2,593 | | | FMC Corp. | | | 215 | |
| | |
| | 4,138 | | | Huntsman Corp. | | | 85 | |
| | |
| | 3,685 | | | International Flavors & Fragrances, Inc. | | | 535 | |
| | |
| | 11,142 | | | Linde PLC | | | 2,237 | |
| | |
| | 5,986 | | | LyondellBasell Industries N.V., Class – A | | | 516 | |
| | |
| | 368 | | | NewMarket Corp. | | | 148 | |
| | |
| | 3,138 | | | Olin Corp. | | | 69 | |
| | |
| | 7,147 | | | PPG Industries, Inc. | | | 834 | |
| | |
| | 3,188 | | | RPM International, Inc. | | | 195 | |
| | |
| | 3,274 | | | The Chemours Co. | | | 79 | |
| | |
| | 6,792 | | | The Mosaic Co. | | | 170 | |
| | |
| | 2,041 | | | The ScottsMiracle-Gro Co. | | | 201 | |
| | |
| | 4,618 | | | The Sherwin-Williams Co. | | | 2,116 | |
| | |
| | 3,584 | | | Valvoline, Inc. | | | 70 | |
| | |
| | 3,153 | | | W.R. Grace & Co. | | | 240 | |
| | |
| | 690 | | | Westlake Chemical Corp. | | | 48 | |
| | | | | | | | |
| | | | | | | 15,647 | |
| | | | | | | | |
See accompanying notes to financial statements.
74
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Commercial Services & Supplies — 0.43% | |
| | |
| | 735 | | | ADT, Inc. | | $ | 4 | |
| | |
| | 4,522 | | | Cintas Corp. | | | 1,073 | |
| | |
| | 978 | | | Clean Harbors, Inc. (a) | | | 70 | |
| | |
| | 10,550 | | | Copart, Inc. (a) | | | 789 | |
| | |
| | 6,689 | | | IAA, Inc. (a) | | | 259 | |
| | |
| | 6,689 | | | KAR Auction Services, Inc. | | | 167 | |
| | |
| | 9,083 | | | Republic Services, Inc., Class – A | | | 787 | |
| | |
| | 13,214 | | | Rollins, Inc. | | | 474 | |
| | |
| | 1,636 | | | Stericycle, Inc. (a) | | | 78 | |
| | |
| | 3,753 | | | Waste Connections, Inc. | | | 359 | |
| | |
| | 22,676 | | | Waste Management, Inc. | | | 2,616 | |
| | | | | | | | |
| | | | | | | 6,676 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 1.09% | |
| | |
| | 3,102 | | | Arista Networks, Inc. (a) | | | 805 | |
| | |
| | 234,789 | | | Cisco Systems, Inc. | | | 12,850 | |
| | |
| | 3,602 | | | Commscope Holding, Inc. (a) | | | 57 | |
| | |
| | 917 | | | EchoStar Corp., Class – A (a) | | | 41 | |
| | |
| | 3,137 | | | F5 Networks, Inc. (a) | | | 457 | |
| | |
| | 7,222 | | | Juniper Networks, Inc. | | | 192 | |
| | |
| | 7,883 | | | Motorola Solutions, Inc. | | | 1,314 | |
| | |
| | 4,852 | | | Palo Alto Networks, Inc. (a) | | | 989 | |
| | |
| | 784 | | | Ubiquiti Networks, Inc. | | | 103 | |
| | | | | | | | |
| | | | | | | 16,808 | |
| | | | | | | | |
| |
| | | | Construction & Engineering — 0.04% | |
| | |
| | 2,966 | | | AECOM Technology Corp. (a) | | | 112 | |
| | |
| | 991 | | | Arcosa, Inc. | | | 37 | |
| | |
| | 2,751 | | | Fluor Corp. | | | 93 | |
| | |
| | 2,430 | | | Jacobs Engineering Group, Inc. | | | 206 | |
| | |
| | 3,904 | | | Quanta Services, Inc. | | | 149 | |
| | |
| | 414 | | | Valmont Industries, Inc. | | | 52 | |
| | | | | | | | |
| | | | | | | 649 | |
| | | | | | | | |
| |
| | | | Construction Materials — 0.21% | |
| | |
| | 2,127 | | | Eagle Materials, Inc., Class – A | | | 197 | |
| | |
| | 9,370 | | | Martin Marietta Materials, Inc. | | | 2,156 | |
| | |
| | 6,634 | | | Vulcan Materials Co. | | | 911 | |
| | | | | | | | |
| | | | | | | 3,264 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 0.42% | |
| | |
| | 7,881 | | | Ally Financial, Inc. | | | 244 | |
| | |
| | 26,837 | | | American Express Co. | | | 3,313 | |
| | |
| | 9,089 | | | Capital One Financial Corp. | | | 825 | |
| | |
| | 521 | | | Credit Acceptance Corp. (a) | | | 252 | |
| | |
| | 10,525 | | | Discover Financial Services | | | 817 | |
| | |
| | 4,712 | | | Navient Corp. | | | 64 | |
| | |
| | 1,459 | | | OneMain Holdings, Inc. | | | 49 | |
| | |
| | 2,194 | | | Santander Consumer USA Holdings, Inc. | | | 53 | |
| | |
| | 8,247 | | | SLM Corp. | | | 80 | |
| | |
| | 20,398 | | | Synchrony Financial | | | 707 | |
| | | | | | | | |
| | | | | | | 6,404 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.39% | |
| | |
| | 2,005 | | | AptarGroup, Inc. | | | 249 | |
| | |
| | 155 | | | Ardagh Group SA | | | 3 | |
| | |
| | 5,006 | | | Avery Dennison Corp. | | | 579 | |
| | |
| | 20,377 | | | Ball Corp. | | | 1,426 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Containers & Packaging (continued) | |
| | |
| | 35,728 | | | Berry Plastics Group, Inc. (a) | | $ | 1,880 | |
| | |
| | 7,549 | | | Crown Holdings, Inc. (a) | | | 461 | |
| | |
| | 5,715 | | | Graphic Packaging Holding Co. | | | 80 | |
| | |
| | 7,877 | | | International Paper Co. | | | 341 | |
| | |
| | 3,033 | | | Owens-Illinois, Inc. | | | 52 | |
| | |
| | 1,810 | | | Packaging Corporation of America | | | 173 | |
| | |
| | 9,407 | | | Sealed Air Corp. | | | 402 | |
| | |
| | 1,479 | | | Silgan Holdings | | | 45 | |
| | |
| | 1,926 | | | Sonoco Products Co. | | | 126 | |
| | |
| | 4,875 | | | WestRock Co. | | | 178 | |
| | | | | | | | |
| | | | | | | 5,995 | |
| | | | | | | | |
| |
| | | | Distributors — 0.17% | |
| | |
| | 5,595 | | | Genuine Parts Co. | | | 580 | |
| | |
| | 63,297 | | | LKQ Corp. (a) | | | 1,684 | |
| | |
| | 2,035 | | | Pool Corp. | | | 389 | |
| | | | | | | | |
| | | | | | | 2,653 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 0.21% | |
| | |
| | 2,995 | | | Bright Horizons Family Solutions, Inc. (a) | | | 452 | |
| | |
| | 38,750 | | | Frontdoor, Inc. (a) | | | 1,688 | |
| | |
| | 78 | | | Graham Holdings Co. | | | 54 | |
| | |
| | 1,148 | | | Grand Canyon Education, Inc. (a) | | | 134 | |
| | |
| | 13,215 | | | H&R Block, Inc. | | | 387 | |
| | |
| | 5,489 | | | Service Corporation International | | | 257 | |
| | |
| | 3,578 | | | ServiceMaster Global Holdings, Inc. (a) | | | 186 | |
| | | | | | | | |
| | | | | | | 3,158 | |
| | | | | | | | |
| |
| | | | Diversified Financial Services — 0.55% | |
| | |
| | 4,569 | | | AXA Equitable Holdings, Inc. | | | 95 | |
| | |
| | 37,953 | | | Berkshire Hathaway, Inc., Class – B (a) | | | 8,091 | |
| | |
| | 5,299 | | | Jefferies Financial Group, Inc. | | | 102 | |
| | |
| | 3,252 | | | Voya Financial, Inc. | | | 180 | |
| | | | | | | | |
| | | | | | | 8,468 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 0.72% | |
| | |
| | 153,051 | | | AT&T, Inc. | | | 5,128 | |
| | |
| | 19,984 | | | CenturyLink, Inc. | | | 235 | |
| | |
| | 87,864 | | | Verizon Communications, Inc. | | | 5,020 | |
| | |
| | 19,382 | | | Zayo Group Holdings, Inc. (a) | | | 638 | |
| | | | | | | | |
| | | | | | | 11,021 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 1.11% | |
| | |
| | 14,184 | | | Alliant Energy Corp. | | | 696 | |
| | |
| | 15,095 | | | American Electric Power, Inc. | | | 1,329 | |
| | |
| | 1,053 | | | Avangrid, Inc. | | | 53 | |
| | |
| | 19,431 | | | Duke Energy Corp. | | | 1,715 | |
| | |
| | 12,862 | | | Edison International | | | 867 | |
| | |
| | 8,147 | | | Entergy Corp. | | | 839 | |
| | |
| | 13,216 | | | Evergy, Inc. | | | 795 | |
| | |
| | 12,414 | | | Eversource Energy | | | 940 | |
| | |
| | 27,856 | | | Exelon Corp. | | | 1,335 | |
| | |
| | 20,432 | | | FirstEnergy Corp. | | | 875 | |
| | |
| | 2,052 | | | Hawaiian Electric Industries, Inc. | | | 89 | |
| | |
| | 11,718 | | | NextEra Energy, Inc. | | | 2,401 | |
| | |
| | 13,932 | | | OGE Energy Corp. | | | 593 | |
| | |
| | 9,797 | | | PG&E Corp. (a) | | | 225 | |
| | |
| | 7,188 | | | Pinnacle West Capital Corp. | | | 676 | |
| | |
| | 28,519 | | | PPL Corp. | | | 884 | |
See accompanying notes to financial statements.
75
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Electric Utilities (continued) | |
| | |
| | 28,949 | | | The Southern Co. | | $ | 1,600 | |
| | |
| | 17,903 | | | Xcel Energy, Inc. | | | 1,065 | |
| | | | | | | | |
| | | | | | | 16,977 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.30% | |
| | |
| | 1,083 | | | Acuity Brands, Inc. | | | 149 | |
| | |
| | 10,179 | | | AMETEK, Inc. | | | 925 | |
| | |
| | 8,491 | | | Eaton Corp. PLC | | | 707 | |
| | |
| | 14,626 | | | Emerson Electric Co. | | | 976 | |
| | |
| | 2,450 | | | GrafTech International Ltd. | | | 28 | |
| | |
| | 2,265 | | | Hubbell, Inc. | | | 295 | |
| | |
| | 3,050 | | | nVent Electric PLC | | | 76 | |
| | |
| | 821 | | | Regal-Beloit Corp. | | | 67 | |
| | |
| | 6,284 | | | Rockwell Automation, Inc. | | | 1,030 | |
| | |
| | 5,376 | | | Sensata Technologies Holding PLC (a) | | | 263 | |
| | | | | | | | |
| | | | | | | 4,516 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 0.41% | |
| | |
| | 15,478 | | | Amphenol Corp., Class – A | | | 1,485 | |
| | |
| | 1,606 | | | Arrow Electronics, Inc. (a) | | | 114 | |
| | |
| | 2,075 | | | Avnet, Inc. | | | 94 | |
| | |
| | 7,775 | | | CDW Corporation of Delaware | | | 863 | |
| | |
| | 8,632 | | | Cognex Corp. | | | 414 | |
| | |
| | 459 | | | Coherent, Inc. (a) | | | 63 | |
| | |
| | 22,887 | | | Corning, Inc. | | | 761 | |
| | |
| | 1,493 | | | Dolby Laboratories, Inc., Class – A | | | 96 | |
| | |
| | 4,584 | | | FLIR Systems, Inc. | | | 248 | |
| | |
| | 849 | | | IPG Photonics Corp. (a) | | | 131 | |
| | |
| | 3,920 | | | Jabil Circuit, Inc. | | | 124 | |
| | |
| | 9,563 | | | Keysight Technologies, Inc. (a) | | | 859 | |
| | |
| | 457 | | | Littelfuse, Inc. | | | 81 | |
| | |
| | 2,643 | | | National Instruments Corp. | | | 111 | |
| | |
| | 6,174 | | | Trimble Navigation Ltd. (a) | | | 279 | |
| | |
| | 2,804 | | | Zebra Technologies Corp., Class – A (a) | | | 587 | |
| | | | | | | | |
| | | | | | | 6,310 | |
| | | | | | | | |
| |
| | | | Energy Equipment & Services — 0.14% | |
| | |
| | 1,556 | | | Apergy Corp. (a) | | | 52 | |
| | |
| | 10,026 | | | Baker Hughes, Inc. | | | 247 | |
| | |
| | 16,953 | | | Halliburton Co. | | | 386 | |
| | |
| | 2,070 | | | Helmerich & Payne, Inc. | | | 105 | |
| | |
| | 3,655 | | | Nabors Industries Ltd. | | | 11 | |
| | |
| | 7,394 | | | National Oilwell Varco, Inc. | | | 164 | |
| | |
| | 4,090 | | | Patterson-UTI Energy, Inc. | | | 47 | |
| | |
| | 393 | | | RPC, Inc. | | | 3 | |
| | |
| | 28,697 | | | Schlumberger Ltd. | | | 1,140 | |
| | |
| | 10,013 | | | Transocean Ltd. (a) | | | 64 | |
| | | | | | | | |
| | | | | | | 2,219 | |
| | | | | | | | |
| |
| | | | Entertainment — 2.46% | |
| | |
| | 17,801 | | | Activision Blizzard, Inc. | | | 840 | |
| | |
| | 2,031 | | | Cinemark Holdings, Inc. | | | 73 | |
| | |
| | 14,751 | | | Electronic Arts, Inc. (a) | | | 1,494 | |
| | |
| | 433 | | | Liberty Media Group, Class – A (a) | | | 16 | |
| | |
| | 6,006 | | | Liberty Media Group, Class – C (a) | | | 225 | |
| | |
| | 337 | | | Lions Gate Entertainment Corp., Class – A | | | 4 | |
| | |
| | 1,899 | | | Lions Gate Entertainment Corp., Class – B | | | 22 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Entertainment (continued) | |
| | |
| | 6,949 | | | Live Nation Entertainment, Inc. (a) | | $ | 460 | |
| | |
| | 57,358 | | | Netflix, Inc. (a) | | | 21,069 | |
| | |
| | 15,056 | | | Spotify Technology SA (a) | | | 2,201 | |
| | |
| | 3,947 | | | Take-Two Interactive Software, Inc. (a) | | | 448 | |
| | |
| | 410 | | | The Madison Square Garden Co., Class – A (a) | | | 115 | |
| | |
| | 72,905 | | | The Walt Disney Co. | | | 10,180 | |
| | |
| | 77 | | | Viacom, Inc., Class – A | | | 3 | |
| | |
| | 14,266 | | | Viacom, Inc., Class – B | | | 426 | |
| | |
| | 1,363 | | | World Wrestling Entertainment, Inc., Class – A | | | 98 | |
| | |
| | 20,327 | | | Zynga, Inc. (a) | | | 125 | |
| | | | | | | | |
| | | | | | | 37,799 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 3.16% | |
| | |
| | 4,528 | | | Alexandria Real Estate Equities, Inc. | | | 639 | |
| | |
| | 2,582 | | | American Campus Communities, Inc. | | | 119 | |
| | |
| | 8,362 | | | American Homes 4 Rent, Class – A | | | 203 | |
| | |
| | 36,342 | | | American Tower Corp. | | | 7,429 | |
| | |
| | 6,004 | | | Americold Realty Trust | | | 195 | |
| | |
| | 3,184 | | | Apartment Investment & Management Co. | | | 160 | |
| | |
| | 4,117 | | | Apple Hospitality REIT, Inc. | | | 65 | |
| | |
| | 4,695 | | | AvalonBay Communities, Inc. | | | 954 | |
| | |
| | 5,439 | | | Boston Properties, Inc. | | | 702 | |
| | |
| | 3,350 | | | Brandywine Realty Trust | | | 48 | |
| | |
| | 5,719 | | | Brixmor Property Group, Inc. | | | 102 | |
| | |
| | 5,462 | | | Brookfield Property REIT, Inc., Class – A | | | 103 | |
| | |
| | 5,668 | | | Camden Property Trust | | | 592 | |
| | |
| | 9,196 | | | Colony Capital, Inc. | | | 46 | |
| | |
| | 2,257 | | | Columbia Property Trust, Inc. | | | 47 | |
| | |
| | 1,664 | | | Coresite Realty Corp. | | | 192 | |
| | |
| | 1,968 | | | Corporate Office Properties Trust | | | 52 | |
| | |
| | 43,027 | | | Crown Castle International Corp. | | | 5,608 | |
| | |
| | 3,516 | | | CubeSmart | | | 118 | |
| | |
| | 1,981 | | | CyrusOne, Inc. | | | 114 | |
| | |
| | 6,907 | | | Digital Realty Trust, Inc. | | | 814 | |
| | |
| | 3,046 | | | Douglas Emmett, Inc. | | | 121 | |
| | |
| | 18,267 | | | Duke Realty Corp. | | | 577 | |
| | |
| | 2,697 | | | Empire State Realty Trust, Inc., Class – A | | | 40 | |
| | |
| | 1,398 | | | EPR Properties | | | 104 | |
| | |
| | 5,099 | | | Equinix, Inc. | | | 2,571 | |
| | |
| | 2,230 | | | Equity Commonwealth | | | 73 | |
| | |
| | 8,233 | | | Equity Lifestyle Properties, Inc. | | | 999 | |
| | |
| | 12,392 | | | Equity Residential | | | 941 | |
| | |
| | 2,729 | | | Essex Property Trust, Inc. | | | 797 | |
| | |
| | 10,117 | | | Extra Space Storage, Inc. | | | 1,073 | |
| | |
| | 4,339 | | | Federal Realty Investment Trust | | | 559 | |
| | |
| | 3,819 | | | Gaming & Leisure Properties, Inc. | | | 149 | |
| | |
| | 22,756 | | | HCP, Inc. | | | 728 | |
| | |
| | 3,911 | | | Healthcare Trust of America, Inc., Class – A | | | 107 | |
| | |
| | 1,926 | | | Highwoods Properties, Inc. | | | 80 | |
| | |
| | 3,086 | | | Hospitality Properties Trust | | | 77 | |
| | |
| | 18,359 | | | Host Hotels & Resorts, Inc. | | | 335 | |
| | |
| | 2,923 | | | Hudson Pacific Property, Inc. | | | 97 | |
| | |
| | 21,989 | | | Invitation Homes, Inc. | | | 588 | |
| | |
| | 16,886 | | | Iron Mountain, Inc. | | | 529 | |
| | |
| | 2,302 | | | JBG SMITH Properties | | | 91 | |
| | |
| | 1,915 | | | Kilroy Realty Corp. | | | 141 | |
See accompanying notes to financial statements.
76
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 26,628 | | | Kimco Realty Corp. | | $ | 492 | |
| | |
| | 4,420 | | | Lamar Advertising Co., Class – A | | | 357 | |
| | |
| | 9,562 | | | Liberty Property Trust | | | 478 | |
| | |
| | 868 | | | Life Storage, Inc. | | | 83 | |
| | |
| | 6,973 | | | Medical Properties Trust, Inc. | | | 122 | |
| | |
| | 5,705 | | | Mid-America Apartment Communities, Inc. | | | 672 | |
| | |
| | 11,028 | | | National Retail Properties, Inc. | | | 585 | |
| | |
| | 4,072 | | | OMEGA Healthcare Investors, Inc. | | | 150 | |
| | |
| | 3,321 | | | Outfront Media, Inc. | | | 86 | |
| | |
| | 3,906 | | | Paramount Group, Inc. | | | 55 | |
| | |
| | 3,812 | | | Parks Hotels & Resorts, Inc. | | | 105 | |
| | |
| | 15,786 | | | Prologis, Inc. | | | 1,264 | |
| | |
| | 8,758 | | | Public Storage | | | 2,086 | |
| | |
| | 2,447 | | | Rayonier, Inc. | | | 74 | |
| | |
| | 11,685 | | | Realty Income Corp. | | | 806 | |
| | |
| | 8,618 | | | Regency Centers Corp. | | | 575 | |
| | |
| | 4,119 | | | Retail Properties of America, Inc., Class – A | | | 48 | |
| | |
| | 110 | | | Retail Value, Inc. | | | 4 | |
| | |
| | 7,506 | | | SBA Communications Corp. (a) | | | 1,688 | |
| | |
| | 4,502 | | | Senior Housing Properties Trust | | | 37 | |
| | |
| | 17,595 | | | Simon Property Group, Inc. | | | 2,810 | |
| | |
| | 2,930 | | | SITE Centers Corp. | | | 39 | |
| | |
| | 4,740 | | | SL Green Realty Corp. | | | 381 | |
| | |
| | 1,626 | | | Spirit Realty Capital, Inc. | | | 69 | |
| | |
| | 3,733 | | | Store Capital Corp. | | | 124 | |
| | |
| | 5,799 | | | Sun Communities, Inc. | | | 743 | |
| | |
| | 1,129 | | | Taubman Centers, Inc. | | | 46 | |
| | |
| | 12,450 | | | The Macerich Co. | | | 417 | |
| | |
| | 14,720 | | | UDR, Inc. | | | 661 | |
| | |
| | 3,203 | | | Uniti Group, Inc. | | | 30 | |
| | |
| | 13,441 | | | Ventas, Inc. | | | 919 | |
| | |
| | 58,061 | | | VEREIT, Inc. | | | 523 | |
| | |
| | 7,830 | | | VICI Properties, Inc. | | | 173 | |
| | |
| | 8,616 | | | Vornado Realty Trust | | | 552 | |
| | |
| | 2,270 | | | Weingarten Realty Investors | | | 62 | |
| | |
| | 12,480 | | | Welltower, Inc. | | | 1,017 | |
| | |
| | 18,915 | | | Weyerhaeuser Co. | | | 498 | |
| | |
| | 8,154 | | | WP Carey, Inc. | | | 662 | |
| | | | | | | | |
| | | | | | | 48,572 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 1.42% | |
| | |
| | 978 | | | Casey’s General Stores, Inc. | | | 153 | |
| | |
| | 48,465 | | | Costco Wholesale Corp. | | | 12,806 | |
| | |
| | 4,581 | | | Sprouts Farmers Market, Inc. (a) | | | 87 | |
| | |
| | 30,250 | | | Sysco Corp. | | | 2,139 | |
| | |
| | 31,698 | | | The Kroger Co. | | | 688 | |
| | |
| | 43,421 | | | US Foods Holding Corp. (a) | | | 1,553 | |
| | |
| | 18,492 | | | Walgreens Boots Alliance, Inc. | | | 1,011 | |
| | |
| | 30,943 | | | Wal-Mart Stores, Inc. | | | 3,419 | |
| | | | | | | | |
| | | | | | | 21,856 | |
| | | | | | | | |
| |
| | | | Food Products — 0.85% | |
| | |
| | 17,598 | | | Archer-Daniels-Midland Co. | | | 718 | |
| | |
| | 9,144 | | | Bunge Ltd. | | | 509 | |
| | |
| | 17,933 | | | Campbell Soup Co. | | | 719 | |
| | |
| | 21,784 | | | ConAgra Foods, Inc. | | | 578 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Food Products (continued) | |
| | |
| | 3,564 | | | Flowers Foods, Inc. | | $ | 83 | |
| | |
| | 19,256 | | | General Mills, Inc. | | | 1,011 | |
| | |
| | 10,203 | | | Hershey Co. | | | 1,367 | |
| | |
| | 14,794 | | | Hormel Foods Corp. | | | 600 | |
| | |
| | 5,549 | | | Ingredion, Inc. | | | 458 | |
| | |
| | 15,762 | | | Kellogg Co. | | | 844 | |
| | |
| | 10,964 | | | Lamb Weston Holding, Inc. | | | 695 | |
| | |
| | 7,365 | | | McCormick & Company, Inc. | | | 1,141 | |
| | |
| | 33,673 | | | Mondelez International, Inc., Class – A | | | 1,814 | |
| | |
| | 1,705 | | | Pilgrim’s Pride Corp. (a) | | | 43 | |
| | |
| | 2,233 | | | Post Holdings, Inc. (a) | | | 232 | |
| | |
| | 6 | | | Seaboard Corp. | | | 25 | |
| | |
| | 1,767 | | | The Hain Celestial Group, Inc. (a) | | | 39 | |
| | |
| | 5,806 | | | The J.M. Smucker Co. | | | 669 | |
| | |
| | 22,155 | | | The Kraft Heinz Co. | | | 688 | |
| | |
| | 1,329 | | | TreeHouse Foods, Inc. (a) | | | 72 | |
| | |
| | 10,373 | | | Tyson Foods, Inc., Class – A | | | 838 | |
| | | | | | | | |
| | | | | | | 13,143 | |
| | | | | | | | |
| |
| | | | Gas Utilities — 0.09% | |
| | |
| | 6,433 | | | Atmos Energy Corp. | | | 680 | |
| | |
| | 1,538 | | | National Fuel Gas Co. | | | 81 | |
| | |
| | 11,411 | | | UGI Corp. | | | 609 | |
| | | | | | | | |
| | | | | | | 1,370 | |
| | | | | | | | |
| |
| | | | Health Care Equipment & Supplies — 3.02% | |
| | |
| | 57,533 | | | Abbott Laboratories | | | 4,839 | |
| | |
| | 2,322 | | | Abiomed, Inc. (a) | | | 605 | |
| | |
| | 4,197 | | | Align Technology, Inc. (a) | | | 1,149 | |
| | |
| | 18,356 | | | Baxter International, Inc. | | | 1,503 | |
| | |
| | 6,527 | | | Becton, Dickinson & Co. | | | 1,645 | |
| | |
| | 72,652 | | | Boston Scientific Corp. (a) | | | 3,123 | |
| | |
| | 1,446 | | | Cantel Medical Corp. | | | 117 | |
| | |
| | 37,127 | | | Danaher Corp. | | | 5,306 | |
| | |
| | 9,295 | | | Dentsply Sirona, Inc. | | | 542 | |
| | |
| | 4,719 | | | Dexcom, Inc. (a) | | | 707 | |
| | |
| | 26,859 | | | Edwards Lifesciences Corp. (a) | | | 4,962 | |
| | |
| | 2,651 | | | Hill-Rom Holdings, Inc. | | | 277 | |
| | |
| | 12,984 | | | Hologic, Inc. (a) | | | 623 | |
| | |
| | 515 | | | ICU Medical, Inc. (a) | | | 130 | |
| | |
| | 4,509 | | | IDEXX Laboratories, Inc. (a) | | | 1,241 | |
| | |
| | 3,290 | | | Insulet Corp. (a) | | | 393 | |
| | |
| | 1,346 | | | Integra LifeSciences Holdings Corp. (a) | | | 75 | |
| | |
| | 14,313 | | | Intuitive Surgical, Inc. (a) | | | 7,508 | |
| | |
| | 2,561 | | | Masimo Corp. (a) | | | 381 | |
| | |
| | 29,070 | | | Medtronic PLC | | | 2,832 | |
| | |
| | 1,628 | | | Penumbra, Inc. (a) | | | 260 | |
| | |
| | 8,038 | | | ResMed, Inc. | | | 981 | |
| | |
| | 2,696 | | | STERIS PLC | | | 401 | |
| | |
| | 18,533 | | | Stryker Corp. | | | 3,810 | |
| | |
| | 2,348 | | | Teleflex, Inc. | | | 778 | |
| | |
| | 1,649 | | | The Cooper Companies, Inc. | | | 556 | |
| | |
| | 5,621 | | | Varian Medical Systems, Inc. (a) | | | 765 | |
| | |
| | 3,158 | | | West Pharmaceutical Services, Inc. | | | 395 | |
| | |
| | 3,927 | | | Zimmer Holdings, Inc. | | | 462 | |
| | | | | | | | |
| | | | | | | 46,366 | |
| | | | | | | | |
See accompanying notes to financial statements.
77
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Providers & Services — 1.88% | |
| | |
| | 1,651 | | | Acadia Healthcare Company, Inc. (a) | | $ | 58 | |
| | |
| | 9,167 | | | AmerisourceBergen Corp. | | | 782 | |
| | |
| | 8,115 | | | Anthem, Inc. | | | 2,290 | |
| | |
| | 6,860 | | | Cardinal Health, Inc. | | | 323 | |
| | |
| | 19,398 | | | Centene Corp. (a) | | | 1,017 | |
| | |
| | 801 | | | Chemed Corp. | | | 289 | |
| | |
| | 12,255 | | | Cigna Corp. | | | 1,931 | |
| | |
| | 1,234 | | | Covetrus, Inc. (a) | | | 30 | |
| | |
| | 29,916 | | | CVS Caremark Corp. | | | 1,630 | |
| | |
| | 2,455 | | | DaVita Healthcare Partners, Inc. (a) | | | 138 | |
| | |
| | 3,630 | | | Encompass Health Corp. | | | 230 | |
| | |
| | 1,075 | | | Guardant Health, Inc. (a) | | | 93 | |
| | |
| | 12,100 | | | HCA Holdings, Inc. | | | 1,636 | |
| | |
| | 6,550 | | | Henry Schein, Inc. (a) | | | 458 | |
| | |
| | 5,949 | | | Humana, Inc. | | | 1,578 | |
| | |
| | 3,323 | | | Laboratory Corporation of America Holdings (a) | | | 575 | |
| | |
| | 5,686 | | | McKesson Corp. | | | 764 | |
| | |
| | 1,786 | | | MEDNAX, Inc. (a) | | | 45 | |
| | |
| | 2,837 | | | Molina Heathcare, Inc. (a) | | | 406 | |
| | |
| | 1,003 | | | Premier, Inc., Class – A (a) | | | 39 | |
| | |
| | 5,303 | | | Quest Diagnostics, Inc. | | | 540 | |
| | |
| | 51,167 | | | UnitedHealth Group, Inc. | | | 12,484 | |
| | |
| | 4,200 | | | Universal Health Services, Inc., Class – B | | | 548 | |
| | |
| | 3,237 | | | WellCare Health Plans, Inc. (a) | | | 923 | |
| | | | | | | | |
| | | | | | | 28,807 | |
| | | | | | | | |
| |
| | | | Health Care Technology — 0.16% | |
| | |
| | 17,327 | | | Cerner Corp. | | | 1,270 | |
| | |
| | 1,888 | | | Medidata Solutions, Inc. (a) | | | 171 | |
| | |
| | 6,675 | | | Veeva Systems, Inc. (a) | | | 1,082 | |
| | | | | | | | |
| | | | | | | 2,523 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 2.12% | |
| | |
| | 10,048 | | | Aramark | | | 362 | |
| | |
| | 10,893 | | | Caesars Entertainment Corp. (a) | | | 129 | |
| | |
| | 8,547 | | | Carnival Corp., Class – A | | | 398 | |
| | |
| | 5,813 | | | Chipotle Mexican Grill, Inc. (a) | | | 4,260 | |
| | |
| | 1,239 | | | Choice Hotels International, Inc. | | | 108 | |
| | |
| | 9,195 | | | Darden Restaurants, Inc. | | | 1,119 | |
| | |
| | 3,091 | | | Domino’s Pizza, Inc. | | | 860 | |
| | |
| | 4,163 | | | Dunkin’ Brands Group, Inc. | | | 332 | |
| | |
| | 3,595 | | | Extended Stay America, Inc. | | | 61 | |
| | |
| | 2,499 | | | Hilton Grand Vacations (a) | | | 80 | |
| | |
| | 31,287 | | | Hilton Worldwide Holdings, Inc. | | | 3,058 | |
| | |
| | 765 | | | Hyatt Hotels Corp., Class – A | | | 58 | |
| | |
| | 1,904 | | | International Game Technology PLC | | | 25 | |
| | |
| | 12,548 | | | Las Vegas Sands Corp. | | | 741 | |
| | |
| | 38,584 | | | Marriott International, Inc., Class – A | | | 5,414 | |
| | |
| | 21,376 | | | McDonald’s Corp. | | | 4,439 | |
| | |
| | 11,138 | | | MGM Resorts International | | | 318 | |
| | |
| | 5,598 | | | Norwegian Cruise Line Holdings Ltd. (a) | | | 300 | |
| | |
| | 2,655 | | | Planet Fitness, Inc., Class – A (a) | | | 192 | |
| | |
| | 3,208 | | | Royal Caribbean Cruises Ltd. | | | 389 | |
| | |
| | 1,796 | | | Six Flags Entertainment Corp. | | | 89 | |
| | |
| | 67,948 | | | Starbucks Corp. | | | 5,697 | |
| | |
| | 9,510 | | | The Wendy’s Co. | | | 186 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hotels, Restaurants & Leisure (continued) | |
| | |
| | 2,197 | | | Vail Resorts, Inc. | | $ | 490 | |
| | |
| | 2,978 | | | Wyndham Hotels & Resorts, Inc. | | | 166 | |
| | |
| | 1,821 | | | Wyndham Worldwide Corp. | | | 80 | |
| | |
| | 4,721 | | | Wynn Resorts Ltd. | | | 585 | |
| | |
| | 16,268 | | | Yum China Holdings, Inc. | | | 752 | |
| | |
| | 17,198 | | | YUM! Brands, Inc. | | | 1,903 | |
| | | | | | | | |
| | | | | | | 32,591 | |
| | | | | | | | |
| |
| | | | Household Durables — 0.23% | |
| | |
| | 8,261 | | | D.R. Horton, Inc. | | | 356 | |
| | |
| | 4,027 | | | Garmin Ltd. | | | 321 | |
| | |
| | 2,484 | | | Leggett & Platt, Inc. | | | 95 | |
| | |
| | 10,838 | | | Lennar Corp., Class – A | | | 525 | |
| | |
| | 406 | | | Lennar Corp., Class – B | | | 16 | |
| | |
| | 1,179 | | | Mohawk Industries, Inc. (a) | | | 174 | |
| | |
| | 8,231 | | | Newell Rubbermaid, Inc. | | | 127 | |
| | |
| | 259 | | | NVR, Inc. (a) | | | 873 | |
| | |
| | 10,419 | | | PulteGroup, Inc. | | | 329 | |
| | |
| | 2,568 | | | Roku, Inc. (a) | | | 233 | |
| | |
| | 2,431 | | | Tempur Sealy International, Inc. (a) | | | 178 | |
| | |
| | 2,585 | | | Toll Brothers, Inc. | | | 95 | |
| | |
| | 1,187 | | | Whirlpool Corp. | | | 169 | |
| | | | | | | | |
| | | | | | | 3,491 | |
| | | | | | | | |
| |
| | | | Household Products — 0.77% | |
| | |
| | 18,368 | | | Church & Dwight Co., Inc. | | | 1,342 | |
| | |
| | 21,952 | | | Colgate-Palmolive Co. | | | 1,573 | |
| | |
| | 1,185 | | | Energizer Holdings, Inc. | | | 46 | |
| | |
| | 9,678 | | | Kimberly-Clark Corp. | | | 1,290 | |
| | |
| | 773 | | | Spectrum Brands Holdings, Inc. | | | 42 | |
| | |
| | 8,889 | | | The Clorox Co. | | | 1,361 | |
| | |
| | 56,932 | | | The Procter & Gamble Co. | | | 6,242 | |
| | | | | | | | |
| | | | | | | 11,896 | |
| | | | | | | | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.08% | |
| | |
| | 6,099 | | | NRG Energy, Inc., Class – C | | | 214 | |
| | |
| | 32,815 | | | The AES Corp. | | | 551 | |
| | |
| | 21,356 | | | Vistra Energy Corp. (a) | | | 483 | |
| | | | | | | | |
| | | | | | | 1,248 | |
| | | | | | | | |
| |
| | | | Industrial Conglomerates — 0.80% | |
| | |
| | 25,476 | | | 3M Co. | | | 4,416 | |
| | |
| | 2,662 | | | Carlisle Companies, Inc. | | | 374 | |
| | |
| | 179,738 | | | General Electric Co. | | | 1,887 | |
| | |
| | 27,094 | | | Honeywell International, Inc. | | | 4,731 | |
| | |
| | 2,499 | | | Roper Industries, Inc. | | | 915 | |
| | | | | | | | |
| | | | | | | 12,323 | |
| | | | | | | | |
| |
| | | | Insurance — 1.70% | |
| | |
| | 20,026 | | | Aflac, Inc. | | | 1,098 | |
| | |
| | 750 | | | Alleghany Corp. (a) | | | 511 | |
| | |
| | 9,301 | | | Allstate Corp. | | | 946 | |
| | |
| | 3,858 | | | American Financial Group, Inc. | | | 395 | |
| | |
| | 20,619 | | | American International Group, Inc. | | | 1,098 | |
| | |
| | 157 | | | American National Insurance Co. | | | 18 | |
| | |
| | 13,968 | | | Aon PLC | | | 2,696 | |
| | |
| | 18,676 | | | Arch Capital Group Ltd. (a) | | | 694 | |
| | |
| | 7,453 | | | Arthur J. Gallagher & Co. | | | 653 | |
See accompanying notes to financial statements.
78
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Insurance (continued) | |
| | |
| | 3,253 | | | Assurant, Inc. | | $ | 346 | |
| | |
| | 1,977 | | | Assured Guaranty Ltd. | | | 83 | |
| | |
| | 7,660 | | | Athene Holding Ltd. (a) | | | 330 | |
| | |
| | 1,869 | | | AXIS Capital Holdings Ltd. | | | 111 | |
| | |
| | 2,278 | | | Brighthouse Financial, Inc. (a) | | | 84 | |
| | |
| | 5,480 | | | Brown & Brown, Inc. | | | 184 | |
| | |
| | 11,116 | | | Chubb Ltd. | | | 1,638 | |
| | |
| | 5,623 | | | Cincinnati Financial Corp. | | | 583 | |
| | |
| | 569 | | | CNA Financial Corp. | | | 27 | |
| | |
| | 2,480 | | | Erie Indemnity Co., Class – A | | | 631 | |
| | |
| | 2,696 | | | Everest Re Group Ltd. | | | 666 | |
| | |
| | 2,058 | | | First American Financial Corp. | | | 111 | |
| | |
| | 12,438 | | | FNF Group | | | 501 | |
| | |
| | 803 | | | Hanover Insurance Group, Inc. | | | 103 | |
| | |
| | 10,764 | | | Hartford Financial Services Group, Inc. | | | 600 | |
| | |
| | 358 | | | Kemper Corp. | | | 31 | |
| | |
| | 4,128 | | | Lincoln National Corp. | | | 266 | |
| | |
| | 8,279 | | | Loews Corp. | | | 453 | |
| | |
| | 597 | | | Markel Corp. (a) | | | 650 | |
| | |
| | 27,036 | | | Marsh & McLennan Companies, Inc. | | | 2,696 | |
| | |
| | 527 | | | Mercury General Corp. | | | 33 | |
| | |
| | 16,150 | | | MetLife, Inc. | | | 802 | |
| | |
| | 5,358 | | | Old Republic International Corp. | | | 120 | |
| | |
| | 954 | | | Primerica, Inc. | | | 114 | |
| | |
| | 5,276 | | | Principal Financial Group, Inc. | | | 306 | |
| | |
| | 8,000 | | | Prudential Financial, Inc. | | | 808 | |
| | |
| | 2,240 | | | Reinsurance Group of America | | | 350 | |
| | |
| | 3,417 | | | RenaissanceRe Holdings Ltd. | | | 608 | |
| | |
| | 21,437 | | | The Progressive Corp. | | | 1,712 | |
| | |
| | 8,606 | | | The Travelers Companies, Inc. | | | 1,286 | |
| | |
| | 3,427 | | | Torchmark Corp. | | | 307 | |
| | |
| | 3,867 | | | Unum Group | | | 130 | |
| | |
| | 8,003 | | | W.R. Berkley Corp. | | | 528 | |
| | |
| | 58 | | | White Mountains Insurance Group Ltd. | | | 59 | |
| | |
| | 3,707 | | | Willis Towers Watson PLC | | | 710 | |
| | | | | | | | |
| | | | | | | 26,076 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 6.45% | |
| | |
| | 24,166 | | | Alphabet, Inc., Class – A (a) | | | 26,167 | |
| | |
| | 23,191 | | | Alphabet, Inc., Class – C (a) | | | 25,067 | |
| | |
| | 41,800 | | | Cargurus, Inc. (a) | | | 1,509 | |
| | |
| | 184,005 | | | Facebook, Inc., Class – A (a) | | | 35,514 | |
| | |
| | 9,407 | | | InterActive Corp. (a) | | | 2,046 | |
| | |
| | 3,112 | | | Match Group, Inc. | | | 209 | |
| | |
| | 149,352 | | | Tencent Holdings Ltd., ADR | | | 6,760 | |
| | |
| | 5,609 | | | TripAdvisor, Inc. (a) | | | 260 | |
| | |
| | 39,072 | | | Twitter, Inc. (a) | | | 1,364 | |
| | |
| | 1,078 | | | Zillow Group, Inc., Class – A (a) | | | 49 | |
| | |
| | 2,303 | | | Zillow Group, Inc., Class – C (a) | | | 107 | |
| | | | | | | | |
| | | | | | | 99,052 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 5.38% | |
| | |
| | 56,255 | | | Alibaba Group Holding Ltd., ADR (a) | | | 9,532 | |
| | |
| | 32,530 | | | Amazon.com, Inc. (a) | | | 61,599 | |
| | |
| | 3,217 | | | Booking Holdings, Inc. (a) | | | 6,031 | |
| | |
| | 43,011 | | | eBay, Inc. | | | 1,699 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Internet & Direct Marketing Retail (continued) | |
| | |
| | 27,905 | | | Etsy, Inc. (a) | | $ | 1,713 | |
| | |
| | 7,606 | | | Expedia, Inc. | | | 1,012 | |
| | |
| | 4,756 | | | GrubHub, Inc. (a) | | | 371 | |
| | |
| | 18,759 | | | Qurate Retail, Inc. (a) | | | 232 | |
| | |
| | 3,136 | | | Wayfair, Inc., Class – A (a) | | | 458 | |
| | | | | | | | |
| | | | | | | 82,647 | |
| | | | | | | | |
| |
| | | | IT Services — 8.08% | |
| | |
| | 34,042 | | | Accenture PLC, Class – A | | | 6,290 | |
| | |
| | 8,037 | | | Akamai Technologies, Inc. (a) | | | 644 | |
| | |
| | 1,167 | | | Alliance Data Systems Corp. | | | 164 | |
| | |
| | 2,705 | | | Amdocs Ltd. | | | 168 | |
| | |
| | 23,170 | | | Automatic Data Processing, Inc. | | | 3,831 | |
| | |
| | 7,421 | | | Black Knight, Inc. (a) | | | 446 | |
| | |
| | 7,153 | | | Booz Allen Hamilton Holding Corp. | | | 474 | |
| | |
| | 6,740 | | | Broadridge Financial Solutions, Inc. | | | 861 | |
| | |
| | 15,115 | | | Cognizant Technology Solutions Corp. | | | 958 | |
| | |
| | 3,636 | | | Conduent, Inc. (a) | | | 35 | |
| | |
| | 1,813 | | | CoreLogic, Inc. (a) | | | 76 | |
| | |
| | 31,622 | | | DXC Technology Co. | | | 1,744 | |
| | |
| | 2,681 | | | EPAM Systems, Inc. (a) | | | 464 | |
| | |
| | 2,657 | | | Euronet Worldwide, Inc. (a) | | | 447 | |
| | |
| | 26,317 | | | Fidelity National Information Services, Inc. | | | 3,229 | |
| | |
| | 29,533 | | | First Data Corp. (a) | | | 799 | |
| | |
| | 40,159 | | | Fiserv, Inc. (a) | | | 3,661 | |
| | |
| | 14,477 | | | FleetCor Technologies, Inc. (a) | | | 4,066 | |
| | |
| | 4,667 | | | Gartner Group, Inc. (a) | | | 751 | |
| | |
| | 8,377 | | | Genpact Ltd. | | | 319 | |
| | |
| | 8,322 | | | Global Payments, Inc. | | | 1,333 | |
| | |
| | 29,152 | | | GoDaddy, Inc., Class – A (a) | | | 2,045 | |
| | |
| | 36,394 | | | International Business Machines Corp. | | | 5,019 | |
| | |
| | 5,402 | | | Jack Henry & Associates, Inc. | | | 723 | |
| | |
| | 4,247 | | | Leidos Holdings, Inc. | | | 339 | |
| | |
| | 103,141 | | | MasterCard, Inc., Class – A | | | 27,283 | |
| | |
| | 750 | | | Mongodb, Inc. (a) | | | 114 | |
| | |
| | 5,039 | | | Okta, Inc. (a) | | | 622 | |
| | |
| | 18,825 | | | Paychex, Inc. | | | 1,549 | |
| | |
| | 127,846 | | | PayPal Holdings, Inc. (a) | | | 14,632 | |
| | |
| | 7,393 | | | Sabre Corp. | | | 164 | |
| | |
| | 61,721 | | | Square, Inc., Class – A (a) | | | 4,477 | |
| | |
| | 2,178 | | | Switch, Inc., Class – A | | | 29 | |
| | |
| | 6,159 | | | Teradata Corp. (a) | | | 221 | |
| | |
| | 9,351 | | | Total System Services, Inc. | | | 1,199 | |
| | |
| | 15,855 | | | Twilio, Inc., Class – A (a) | | | 2,162 | |
| | |
| | 4,568 | | | VeriSign, Inc. (a) | | | 955 | |
| | |
| | 169,294 | | | Visa, Inc., Class – A | | | 29,380 | |
| | |
| | 23,220 | | | Western Union Co. | | | 462 | |
| | |
| | 2,218 | | | WEX, Inc. (a) | | | 462 | |
| | |
| | 12,489 | | | Worldpay, Inc., Class – A (a) | | | 1,531 | |
| | | | | | | | |
| | | | | | | 124,128 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.09% | |
| | |
| | 1,643 | | | Brunswick Corp. | | | 75 | |
| | |
| | 8,292 | | | Hasbro, Inc. | | | 877 | |
| | |
| | 14,117 | | | Mattel, Inc. (a) | | | 158 | |
| | |
| | 2,890 | | | Polaris Industries, Inc. | | | 264 | |
| | | | | | | | |
| | | | | | | 1,374 | |
| | | | | | | | |
See accompanying notes to financial statements.
79
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Life Sciences Tools & Services — 1.37% | |
| | |
| | 7,352 | | | Agilent Technologies, Inc. | | $ | 549 | |
| | |
| | 455 | | | Bio-Rad Laboratories, Inc., Class – A (a) | | | 142 | |
| | |
| | 1,978 | | | Bio-Techne Corp. | | | 412 | |
| | |
| | 5,233 | | | Bruker Biosciences Corp. | | | 261 | |
| | |
| | 2,608 | | | Charles River Laboratories International, Inc. (a) | | | 370 | |
| | |
| | 24,662 | | | Illumina, Inc. (a) | | | 9,080 | |
| | |
| | 17,129 | | | IQVIA Holdings, Inc. (a) | | | 2,757 | |
| | |
| | 1,297 | | | Mettler-Toledo International, Inc. (a) | | | 1,089 | |
| | |
| | 2,888 | | | PerkinElmer, Inc. | | | 278 | |
| | |
| | 3,046 | | | PRA Health Sciences, Inc. (a) | | | 302 | |
| | |
| | 4,202 | | | Qiagen N.V. (a) | | | 170 | |
| | |
| | 16,658 | | | Thermo Electron Corp. | | | 4,893 | |
| | |
| | 3,788 | | | Waters Corp. (a) | | | 815 | |
| | | | | | | | |
| | | | | | | 21,118 | |
| | | | | | | | |
| |
| | | | Machinery — 1.06% | |
| | |
| | 1,247 | | | AGCO Corp. | | | 97 | |
| | |
| | 6,389 | | | Allison Transmission Holdings, Inc. | | | 296 | |
| | |
| | 13,460 | | | Caterpillar, Inc. | | | 1,834 | |
| | |
| | 1,621 | | | Colfax Corp. (a) | | | 45 | |
| | |
| | 989 | | | Crane Co. | | | 83 | |
| | |
| | 2,884 | | | Cummins, Inc. | | | 494 | |
| | |
| | 7,952 | | | Deere & Co. | | | 1,318 | |
| | |
| | 6,759 | | | Donaldson Company, Inc. | | | 344 | |
| | |
| | 4,787 | | | Dover Corp. | | | 480 | |
| | |
| | 3,368 | | | Flowserve Corp. | | | 177 | |
| | |
| | 8,397 | | | Fortive Corp. | | | 685 | |
| | |
| | 2,402 | | | Gardner Denver Holdings, Inc. (a) | | | 83 | |
| | |
| | 304 | | | Gates Industrial Corp. PLC (a) | | | 3 | |
| | |
| | 8,648 | | | Graco, Inc. | | | 434 | |
| | |
| | 2,832 | | | IDEX Corp. | | | 488 | |
| | |
| | 17,320 | | | Illinois Tool Works, Inc. | | | 2,611 | |
| | |
| | 12,243 | | | Ingersoll-Rand PLC | | | 1,551 | |
| | |
| | 1,657 | | | ITT, Inc. | | | 109 | |
| | |
| | 3,088 | | | Lincoln Electric Holdings, Inc. | | | 254 | |
| | |
| | 2,896 | | | Nordson, Inc. | | | 409 | |
| | |
| | 1,334 | | | Oshkosh Corp. | | | 111 | |
| | |
| | 6,539 | | | PACCAR, Inc. | | | 469 | |
| | |
| | 2,499 | | | Parker Hannifin Corp. | | | 425 | |
| | |
| | 2,970 | | | Pentair PLC | | | 110 | |
| | |
| | 1,075 | | | Snap-on, Inc. | | | 178 | |
| | |
| | 2,926 | | | Stanley Black & Decker, Inc. | | | 423 | |
| | |
| | 1,263 | | | Terex Corp. | | | 40 | |
| | |
| | 4,019 | | | The Middleby Corp. (a) | | | 545 | |
| | |
| | 1,306 | | | The Timken Co. | | | 67 | |
| | |
| | 5,483 | | | The Toro Co. | | | 367 | |
| | |
| | 2,767 | | | Trinity Industries, Inc. | | | 57 | |
| | |
| | 2,445 | | | WABCO Holdings, Inc. (a) | | | 324 | |
| | |
| | 4,512 | | | Wabtec Corp. | | | 324 | |
| | |
| | 2,493 | | | Welbilt, Inc. (a) | | | 42 | |
| | |
| | 1,413 | | | Woodward, Inc. | | | 160 | |
| | |
| | 9,289 | | | Xylem, Inc. | | | 777 | |
| | | | | | | | |
| | | | | | | 16,214 | |
| | | | | | | | |
| |
| | | | Marine — 0.01% | |
| | |
| | 1,164 | | | Kirby Corp. (a) | | | 92 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Media — 1.43% | |
| | |
| | 73,116 | | | Altice USA, Inc. (a) | | $ | 1,780 | |
| | |
| | 2,307 | | | AMC Networks, Inc. (a) | | | 126 | |
| | |
| | 227 | | | Cable One, Inc. | | | 266 | |
| | |
| | 20,351 | | | CBS Corp., Class – B | | | 1,016 | |
| | |
| | 10,823 | | | Charter Communications, Inc., Class – A (a) | | | 4,277 | |
| | |
| | 197,314 | | | Comcast Corp., Class – A | | | 8,342 | |
| | |
| | 6,232 | | | Discovery Communications, Inc., Class – A (a) | | | 191 | |
| | |
| | 8,804 | | | Discovery Communications, Inc., Class – C (a) | | | 250 | |
| | |
| | 4,206 | | | Dish Network Corp. (a) | | | 162 | |
| | |
| | 7,804 | | | Fox Corp., Class – A | | | 286 | |
| | |
| | 3,581 | | | Fox Corp., Class – B | | | 131 | |
| | |
| | 1,911 | | | GCI Liberty, Inc., Class – A (a) | | | 117 | |
| | |
| | 899 | | | John Wiley & Sons, Inc., Class – A | | | 41 | |
| | |
| | 487 | | | Liberty Broadband, Class – A (a) | | | 50 | |
| | |
| | 18,384 | | | Liberty Broadband, Class – C (a) | | | 1,916 | |
| | |
| | 7,274 | | | Liberty SiriusXM Group, Class – A (a) | | | 275 | |
| | |
| | 8,562 | | | Liberty SiriusXM Group, Class – C (a) | | | 325 | |
| | |
| | 2,341 | | | News Corp., Inc. | | | 33 | |
| | |
| | 7,241 | | | News Corp., Inc., Class – A | | | 98 | |
| | |
| | 1,086 | | | Nexstar Broadcasting Group, Inc., Class – A | | | 110 | |
| | |
| | 12,260 | | | Omnicom Group, Inc. | | | 1,005 | |
| | |
| | 1,770 | | | Sinclair Broadcast Group, Inc., Class – A | | | 95 | |
| | |
| | 103,433 | | | Sirius XM Holdings, Inc. | | | 577 | |
| | |
| | 16,309 | | | The Interpublic Group of Companies, Inc. | | | 368 | |
| | |
| | 955 | | | The New York Times Co., Class – A | | | 31 | |
| | |
| | 1,663 | | | Tribune Media Co., Class – A | | | 77 | |
| | | | | | | | |
| | | | | | | 21,945 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.16% | |
| | |
| | 3,540 | | | Alcoa Corp. (a) | | | 83 | |
| | |
| | 27,835 | | | Freeport-McMoRan Copper & Gold, Inc. | | | 323 | |
| | |
| | 28,874 | | | Newmont Mining Corp. | | | 1,111 | |
| | |
| | 5,927 | | | Nucor Corp. | | | 327 | |
| | |
| | 1,303 | | | Reliance Steel & Aluminum Co. | | | 123 | |
| | |
| | 1,952 | | | Royal Gold, Inc. | | | 200 | |
| | |
| | 3,662 | | | Southern Copper Corp. | | | 142 | |
| | |
| | 4,192 | | | Steel Dynamics, Inc. | | | 127 | |
| | |
| | 3,353 | | | United States Steel Corp. | | | 51 | |
| | | | | | | | |
| | | | | | | 2,487 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.12% | |
| | |
| | 38,086 | | | AGNC Investment Corp. | | | 641 | |
| | |
| | 77,967 | | | Annaly Capital Management, Inc. | | | 711 | |
| | |
| | 3,538 | | | Chimera Investment Corp. | | | 67 | |
| | |
| | 8,498 | | | MFA Financial, Inc. | | | 61 | |
| | |
| | 7,642 | | | New Residential Investment Corp. | | | 118 | |
| | |
| | 5,058 | | | Starwood Property Trust, Inc. | | | 115 | |
| | |
| | 4,669 | | | Two Harbors Investment Corp. | | | 59 | |
| | | | | | | | |
| | | | | | | 1,772 | |
| | | | | | | | |
| |
| | | | Multiline Retail — 0.35% | |
| | |
| | 15,426 | | | Dollar General Corp. | | | 2,085 | |
| | |
| | 11,555 | | | Dollar Tree, Inc. (a) | | | 1,241 | |
| | |
| | 3,512 | | | Kohl’s Corp. | | | 167 | |
| | |
| | 5,797 | | | Macy’s, Inc. | | | 124 | |
| | |
| | 10,860 | | | Nordstrom, Inc. | | | 346 | |
| | |
| | 1,650 | | | Ollie’s Bargain Outlet Holdings, Inc. (a) | | | 144 | |
| | |
| | 14,501 | | | Target Corp. | | | 1,256 | |
| | | | | | | | |
| | | | | | | 5,363 | |
| | | | | | | | |
See accompanying notes to financial statements.
80
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Multi-Utilities — 0.64% | |
| | |
| | 10,878 | | | Ameren Corp. | | $ | 817 | |
| | |
| | 24,126 | | | CenterPoint Energy, Inc. | | | 691 | |
| | |
| | 13,821 | | | CMS Energy Corp. | | | 800 | |
| | |
| | 11,639 | | | Consolidated Edison, Inc. | | | 1,021 | |
| | |
| | 21,032 | | | Dominion Resources, Inc. | | | 1,627 | |
| | |
| | 7,275 | | | DTE Energy Co. | | | 930 | |
| | |
| | 3,676 | | | MDU Resources Group, Inc. | | | 95 | |
| | |
| | 23,382 | | | NiSource, Inc. | | | 673 | |
| | |
| | 17,508 | | | Public Service Enterprise Group, Inc. | | | 1,030 | |
| | |
| | 8,552 | | | Sempra Energy | | | 1,175 | |
| | |
| | 11,855 | | | WEC Energy Group, Inc. | | | 988 | |
| | | | | | | | |
| | | | | | | 9,847 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 1.68% | |
| | |
| | 14,280 | | | Anadarko Petroleum Corp. | | | 1,007 | |
| | |
| | 4,614 | | | Antero Resources Corp. (a) | | | 26 | |
| | |
| | 7,352 | | | Apache Corp. | | | 213 | |
| | |
| | 26,244 | | | Cabot Oil & Gas Corp. | | | 603 | |
| | |
| | 3,508 | | | Centennial Resource Development, Inc., Class – A (a) | | | 27 | |
| | |
| | 9,087 | | | Cheniere Energy, Inc. (a) | | | 622 | |
| | |
| | 19,330 | | | Chesapeake Energy Corp. (a) | | | 38 | |
| | |
| | 38,592 | | | Chevron Corp. | | | 4,801 | |
| | |
| | 1,859 | | | Cimarex Energy Co. | | | 110 | |
| | |
| | 3,788 | | | CNX Resources Corp. (a) | | | 28 | |
| | |
| | 3,747 | | | Concho Resources, Inc. | | | 387 | |
| | |
| | 22,424 | | | ConocoPhillips | | | 1,367 | |
| | |
| | 1,640 | | | Continental Resources, Inc. | | | 69 | |
| | |
| | 9,145 | | | Devon Energy Corp. | | | 261 | |
| | |
| | 4,181 | | | Diamondback Energy, Inc. | | | 456 | |
| | |
| | 11,223 | | | EOG Resources, Inc. | | | 1,045 | |
| | |
| | 4,857 | | | EQT Corp. | | | 77 | |
| | |
| | 4,668 | | | Equitrans Midstream Corp. | | | 92 | |
| | |
| | 790 | | | Extraction Oil & Gas, Inc. (a) | | | 3 | |
| | |
| | 85,475 | | | Exxon Mobil Corp. | | | 6,549 | |
| | |
| | 5,142 | | | Hess Corp. | | | 327 | |
| | |
| | 3,421 | | | HollyFrontier Corp. | | | 158 | |
| | |
| | 37,872 | | | Kinder Morgan, Inc. | | | 791 | |
| | |
| | 5,199 | | | Kosmos Energy Ltd. | | | 33 | |
| | |
| | 16,032 | | | Marathon Oil Corp. | | | 228 | |
| | |
| | 13,005 | | | Marathon Petroleum Corp. | | | 727 | |
| | |
| | 3,109 | | | Murphy Oil Corp. | | | 77 | |
| | |
| | 9,226 | | | Noble Energy, Inc. | | | 207 | |
| | |
| | 18,255 | | | Occidental Petroleum Corp. | | | 917 | |
| | |
| | 12,456 | | | ONEOK, Inc. | | | 857 | |
| | |
| | 10,274 | | | Parsley Energy, Inc., Class – A (a) | | | 195 | |
| | |
| | 2,260 | | | PBF Energy, Inc., Class – A | | | 71 | |
| | |
| | 8,540 | | | Phillips 66 | | | 799 | |
| | |
| | 5,739 | | | Pioneer Natural Resources Co. | | | 883 | |
| | |
| | 4,532 | | | QEP Resources, Inc. (a) | | | 33 | |
| | |
| | 4,030 | | | Range Resources Corp. | | | 28 | |
| | |
| | 2,127 | | | SM Energy Co. | | | 27 | |
| | |
| | 4,458 | | | Targa Resources Corp. | | | 175 | |
| | |
| | 24,882 | | | The Williams Companies, Inc. | | | 698 | |
| | |
| | 8,204 | | | Valero Energy Corp. | | | 702 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Oil, Gas & Consumable Fuels (continued) | |
| | |
| | 1,711 | | | Whiting Petroleum Corp. (a) | | $ | 32 | |
| | |
| | 7,529 | | | WPX Energy, Inc. (a) | | | 87 | |
| | | | | | | | |
| | | | | | | 25,833 | |
| | | | | | | | |
| |
| | | | Paper & Forest Products — 0.00% | |
| | |
| | 1,190 | | | Domtar Corp. | | | 53 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.54% | |
| | |
| | 26,734 | | | Coty, Inc., Class – A | | | 358 | |
| | |
| | 3,046 | | | Herbalife Ltd. (a) | | | 130 | |
| | |
| | 1,110 | | | Nu Skin Enterprises, Inc., Class – A | | | 55 | |
| | |
| | 41,844 | | | The Estee Lauder Companies, Inc., Class – A | | | 7,662 | |
| | | | | | | | |
| | | | | | | 8,205 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 2.89% | |
| | |
| | 6,933 | | | Allergan PLC | | | 1,161 | |
| | |
| | 115,136 | | | AstraZeneca PLC, ADR | | | 4,753 | |
| | |
| | 60,073 | | | Bristol-Myers Squibb Co. | | | 2,724 | |
| | |
| | 2,737 | | | Catalent, Inc. (a) | | | 148 | |
| | |
| | 6,486 | | | Elanco Animal Health, Inc. (a) | | | 219 | |
| | |
| | 48,402 | | | Eli Lilly & Co. | | | 5,362 | |
| | |
| | 662 | | | Horizon Therapeutics PLC (a) | | | 16 | |
| | |
| | 4,189 | | | Jazz Pharmaceuticals PLC (a) | | | 597 | |
| | |
| | 68,626 | | | Johnson & Johnson | | | 9,559 | |
| | |
| | 135,629 | | | Merck & Co., Inc. | | | 11,373 | |
| | |
| | 9,864 | | | Mylan N.V. (a) | | | 188 | |
| | |
| | 4,134 | | | Nektar Therapeutics (a) | | | 147 | |
| | |
| | 2,418 | | | Perrigo Co. PLC | | | 115 | |
| | |
| | 118,151 | | | Pfizer, Inc. | | | 5,118 | |
| | |
| | 25,646 | | | Zoetis, Inc. | | | 2,911 | |
| | | | | | | | |
| | | | | | | 44,391 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.62% | |
| | |
| | 1,900 | | | CoStar Group, Inc. (a) | | | 1,053 | |
| | |
| | 7,198 | | | Equifax, Inc. | | | 973 | |
| | |
| | 43,676 | | | IHS Markit Ltd. (a) | | | 2,783 | |
| | |
| | 1,181 | | | ManpowerGroup, Inc. | | | 114 | |
| | |
| | 13,002 | | | Nielsen Holdings PLC | | | 294 | |
| | |
| | 6,475 | | | Robert Half International, Inc. | | | 369 | |
| | |
| | 33,403 | | | TransUnion Holding Company, Inc. | | | 2,456 | |
| | |
| | 9,818 | | | Versik Analytics, Inc., Class – A | | | 1,438 | |
| | | | | | | | |
| | | | | | | 9,480 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.05% | |
| | |
| | 10,454 | | | CBRE Group, Inc., Class – A (a) | | | 536 | |
| | |
| | 1,165 | | | Howard Hughes Corp. (a) | | | 144 | |
| | |
| | 858 | | | Jones Lang LaSalle, Inc. | | | 121 | |
| | |
| | 2,286 | | | Realogy Holdings Corp. | | | 17 | |
| | | | | | | | |
| | | | | | | 818 | |
| | | | | | | | |
| |
| | | | Road & Rail — 1.22% | |
| | |
| | 997 | | | AMERCO, Inc. | | | 377 | |
| | |
| | 24,825 | | | CSX Corp. | | | 1,921 | |
| | |
| | 1,432 | | | Genesee & Wyoming, Inc., Class – A (a) | | | 143 | |
| | |
| | 4,146 | | | Hunt (JB) Transportation Services, Inc. | | | 379 | |
| | |
| | 1,947 | | | Kansas City Southern | | | 237 | |
| | |
| | 2,401 | | | Knight-Swift Transportation Holdings, Inc. | | | 79 | |
| | |
| | 2,033 | | | Landstar System, Inc. | | | 220 | |
| | |
| | 110 | | | Lyft, Inc., Class – A | | | 7 | |
| | |
| | 13,749 | | | Norfolk Southern Corp. | | | 2,741 | |
See accompanying notes to financial statements.
81
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Road & Rail (continued) | |
| | |
| | 2,271 | | | Old Dominion Freight Line, Inc. | | $ | 339 | |
| | |
| | 990 | | | Ryder System, Inc. | | | 58 | |
| | |
| | 1,009 | | | Schneider National, Inc. | | | 18 | |
| | |
| | 28,114 | | | Uber Technologies, Inc. (a) | | | 1,304 | |
| | |
| | 64,506 | | | Union Pacific Corp. | | | 10,908 | |
| | | | | | | | |
| | | | | | | 18,731 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 3.46% | |
| | |
| | 51,677 | | | Advanced Micro Devices, Inc. (a) | | | 1,569 | |
| | |
| | 8,914 | | | Analog Devices, Inc. | | | 1,006 | |
| | |
| | 36,786 | | | Applied Materials, Inc. | | | 1,652 | |
| | |
| | 34,347 | | | Broadcom, Inc. | | | 9,888 | |
| | |
| | 251 | | | Cree, Inc. (a) | | | 14 | |
| | |
| | 6,798 | | | Cypress Semiconductor Corp. | | | 151 | |
| | |
| | 4,219 | | | Entegris, Inc. | | | 157 | |
| | |
| | 1,554 | | | First Solar, Inc. (a) | | | 102 | |
| | |
| | 87,950 | | | Intel Corp. | | | 4,210 | |
| | |
| | 8,586 | | | KLA-Tencor Corp. | | | 1,015 | |
| | |
| | 7,423 | | | Lam Research Corp. | | | 1,394 | |
| | |
| | 10,905 | | | Marvell Technology Group Ltd. | | | 260 | |
| | |
| | 9,050 | | | Maxim Integrated Products, Inc. | | | 541 | |
| | |
| | 7,133 | | | Microchip Technology, Inc. | | | 618 | |
| | |
| | 21,746 | | | Micron Technology, Inc. (a) | | | 839 | |
| | |
| | 1,015 | | | MKS Instruments, Inc. | | | 79 | |
| | |
| | 2,166 | | | Monolithic Power Systems, Inc. | | | 294 | |
| | |
| | 59,302 | | | NVIDIA Corp. | | | 9,740 | |
| | |
| | 22,242 | | | NXP Semiconductors N.V. | | | 2,171 | |
| | |
| | 8,088 | | | ON Semiconductor Corp. (a) | | | 163 | |
| | |
| | 2,385 | | | Qorvo, Inc. (a) | | | 159 | |
| | |
| | 107,357 | | | Qualcomm, Inc. | | | 8,168 | |
| | |
| | 3,894 | | | Skyworks Solutions, Inc. | | | 301 | |
| | |
| | 8,838 | | | Teradyne, Inc. | | | 423 | |
| | |
| | 50,456 | | | Texas Instruments, Inc. | | | 5,791 | |
| | |
| | 2,224 | | | Universal Display Corp. | | | 418 | |
| | |
| | 5,677 | | | Versum Materials, Inc. | | | 293 | |
| | |
| | 13,486 | | | Xilinx, Inc. | | | 1,590 | |
| | | | | | | | |
| | | | | | | 53,006 | |
| | | | | | | | |
| |
| | | | Software — 11.03% | |
| | |
| | 1,829 | | | 2U, Inc. (a) | | | 69 | |
| | |
| | 64,685 | | | Adobe Systems, Inc. (a) | | | 19,059 | |
| | |
| | 1,425 | | | Alteryx, Inc. (a) | | | 155 | |
| | |
| | 2,571 | | | Anaplan, Inc. (a) | | | 130 | |
| | |
| | 4,396 | | | ANSYS, Inc. (a) | | | 900 | |
| | |
| | 3,631 | | | Aspen Technology, Inc. (a) | | | 451 | |
| | |
| | 5,442 | | | Atlassian Corp. PLC, Class – A (a) | | | 712 | |
| | |
| | 10,001 | | | Autodesk, Inc. (a) | | | 1,629 | |
| | |
| | 1,336 | | | Avalara, Inc. (a) | | | 96 | |
| | |
| | 14,727 | | | Cadence Design Systems, Inc. (a) | | | 1,043 | |
| | |
| | 12,209 | | | CDK Global, Inc. | | | 604 | |
| | |
| | 2,743 | | | Ceridian HCM Holding, Inc. (a) | | | 138 | |
| | |
| | 7,982 | | | Citrix Systems, Inc. | | | 783 | |
| | |
| | 1,918 | | | Coupa Software, Inc. (a) | | | 243 | |
| | |
| | 6,428 | | | DocuSign, Inc. (a) | | | 320 | |
| | |
| | 6,632 | | | Dropbox, Inc. (a) | | | 166 | |
| | |
| | 1,262 | | | Elastic N.V. (a) | | | 94 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Software (continued) | |
| | |
| | 6,726 | | | Fair Isaac Corp. (a) | | $ | 2,112 | |
| | |
| | 10,204 | | | FireEye, Inc. (a) | | | 151 | |
| | |
| | 7,726 | | | Fortinet, Inc. (a) | | | 594 | |
| | |
| | 4,261 | | | Guidewire Software, Inc. (a) | | | 432 | |
| | |
| | 1,248 | | | HubSpot, Inc. (a) | | | 213 | |
| | |
| | 13,209 | | | Intuit, Inc. | | | 3,452 | |
| | |
| | 985 | | | LogMeln, Inc. | | | 73 | |
| | |
| | 3,318 | | | Manhattan Associates, Inc. (a) | | | 230 | |
| | |
| | 534,388 | | | Microsoft Corp. | | | 71,586 | |
| | |
| | 1,468 | | | New Relic, Inc. (a) | | | 127 | |
| | |
| | 5,410 | | | Nuance Communications, Inc. (a) | | | 86 | |
| | |
| | 7,366 | | | Nutanix, Inc., Class – A (a) | | | 191 | |
| | |
| | 122,886 | | | Oracle Corp. | | | 7,001 | |
| | |
| | 314 | | | Pagerduty, Inc. | | | 15 | |
| | |
| | 2,563 | | | Paycom Software, Inc. (a) | | | 581 | |
| | |
| | 1,016 | | | Paylocity Holding Corp. (a) | | | 95 | |
| | |
| | 2,054 | | | Pegasystems, Inc. | | | 146 | |
| | |
| | 3,082 | | | Pluralsight, Inc., Class – A (a) | | | 93 | |
| | |
| | 2,780 | | | Proofpoint, Inc. (a) | | | 334 | |
| | |
| | 5,725 | | | PTC, Inc. (a) | | | 514 | |
| | |
| | 3,985 | | | RealPage, Inc. (a) | | | 235 | |
| | |
| | 18,712 | | | Red Hat, Inc. (a) | | | 3,513 | |
| | |
| | 3,630 | | | RingCentral, Inc., Class – A (a) | | | 417 | |
| | |
| | 122,582 | | | Salesforce.com, Inc. (a) | | | 18,599 | |
| | |
| | 12,136 | | | SAP AG, ADR | | | 1,660 | |
| | |
| | 31,127 | | | ServiceNow, Inc. (a) | | | 8,547 | |
| | |
| | 2,670 | | | Smartsheet, Inc. (a) | | | 129 | |
| | |
| | 982 | | | SolarWinds Corp. (a) | | | 18 | |
| | |
| | 35,964 | | | Splunk, Inc. (a) | | | 4,522 | |
| | |
| | 36,471 | | | SS&C Technologies Holdings, Inc. | | | 2,101 | |
| | |
| | 12,206 | | | Symantec Corp. | | | 266 | |
| | |
| | 7,612 | | | Synopsys, Inc. (a) | | | 980 | |
| | |
| | 3,913 | | | Tableau Software, Inc., Class – A (a) | | | 650 | |
| | |
| | 31,191 | | | Talend SA, ADR (a) | | | 1,204 | |
| | |
| | 1,189 | | | The Trade Desk, Inc. (a) | | | 271 | |
| | |
| | 2,013 | | | Tyler Technologies, Inc. (a) | | | 435 | |
| | |
| | 4,066 | | | VMware, Inc., Class – A | | | 680 | |
| | |
| | 39,184 | | | Workday, Inc., Class – A (a) | | | 8,055 | |
| | |
| | 22,882 | | | Zendesk, Inc. (a) | | | 2,037 | |
| | |
| | 1,926 | | | Zscaler, Inc. (a) | | | 148 | |
| | | | | | | | |
| | | | | | | 169,085 | |
| | | | | | | | |
| |
| | | | Specialty Retail — 2.22% | |
| | |
| | 3,624 | | | Advance Auto Parts, Inc. | | | 559 | |
| | |
| | 1,052 | | | AutoNation, Inc. (a) | | | 44 | |
| | |
| | 1,686 | | | AutoZone, Inc. (a) | | | 1,854 | |
| | |
| | 6,359 | | | Best Buy Co., Inc. | | | 443 | |
| | |
| | 4,493 | | | Burlington Stores, Inc. (a) | | | 764 | |
| | |
| | 6,511 | | | CarMax, Inc. (a) | | | 565 | |
| | |
| | 1,241 | | | Carvana Co. (a) | | | 78 | |
| | |
| | 1,459 | | | Dick’s Sporting Goods, Inc. | | | 51 | |
| | |
| | 1,716 | | | Five Below, Inc. (a) | | | 206 | |
| | |
| | 3,408 | | | Floor & Decor Holdings, Inc., Class – A (a) | | | 143 | |
| | |
| | 2,517 | | | Foot Locker, Inc. | | | 106 | |
| | |
| | 10,690 | | | Gap, Inc. | | | 192 | |
| | |
| | 5,574 | | | L Brands, Inc. | | | 145 | |
See accompanying notes to financial statements.
82
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Specialty Retail (continued) | |
| | |
| | 42,655 | | | Lowe’s Companies, Inc. | | $ | 4,304 | |
| | |
| | 874 | | | Michaels Companies, Inc. The (a) | | | 8 | |
| | |
| | 5,036 | | | O’Reilly Automotive, Inc. (a) | | | 1,860 | |
| | |
| | 682 | | | Penske Automotive Group, Inc. | | | 32 | |
| | |
| | 20,834 | | | Ross Stores, Inc. | | | 2,065 | |
| | |
| | 69,429 | | | The Home Depot, Inc. | | | 14,440 | |
| | |
| | 70,792 | | | The TJX Companies, Inc. | | | 3,743 | |
| | |
| | 2,351 | | | Tiffany & Co. | | | 220 | |
| | |
| | 8,181 | | | Tractor Supply Co. | | | 890 | |
| | |
| | 3,554 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | | | 1,233 | |
| | |
| | 1,510 | | | Urban Outfitters, Inc. (a) | | | 34 | |
| | |
| | 2,027 | | | Williams-Sonoma, Inc. | | | 132 | |
| | | | | | | | |
| | | | | | | 34,111 | |
| | | | | | | | |
| |
| | | | Technology Hardware, Storage & Peripherals — 4.10% | |
| | |
| | 303,379 | | | Apple, Inc. | | | 60,045 | |
| | |
| | 6,357 | | | Dell Technologies, Inc. (a) | | | 323 | |
| | |
| | 27,362 | | | Hewlett Packard Enterprise Co. | | | 409 | |
| | |
| | 33,530 | | | HP, Inc. | | | 697 | |
| | |
| | 6,239 | | | NCR Corp. (a) | | | 194 | |
| | |
| | 13,189 | | | NetApp, Inc. | | | 814 | |
| | |
| | 10,685 | | | Pure Storage, Inc., Class – A (a) | | | 163 | |
| | |
| | 5,536 | | | Western Digital Corp. | | | 263 | |
| | |
| | 3,898 | | | Xerox Corp. | | | 138 | |
| | | | | | | | |
| | | | | | | 63,046 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 1.55% | |
| | |
| | 4,771 | | | Capri Holdings Ltd. (a) | | | 165 | |
| | |
| | 1,619 | | | Carter’s, Inc. | | | 158 | |
| | |
| | 1,193 | | | Columbia Sportswear Co. | | | 119 | |
| | |
| | 20,752 | | | Hanesbrands, Inc. | | | 358 | |
| | |
| | 73,013 | | | Kering SA, ADR | | | 4,308 | |
| | |
| | 885 | | | Kontoor Brands, Inc. (a) | | | 25 | |
| | |
| | 26,216 | | | Lululemon Athletica, Inc. (a) | | | 4,724 | |
| | |
| | 135,681 | | | NIKE, Inc., Class – B | | | 11,391 | |
| | |
| | 1,459 | | | PVH Corp. | | | 138 | |
| | |
| | 1,030 | | | Ralph Lauren Corp. | | | 117 | |
| | |
| | 4,137 | | | Skechers USA, Inc., Class – A (a) | | | 130 | |
| | |
| | 5,584 | | | Tapestry, Inc. | | | 177 | |
| | |
| | 7,906 | | | Under Armour, Inc., Class – A (a) | | | 200 | |
| | |
| | 8,130 | | | Under Armour, Inc., Class – C (a) | | | 180 | |
| | |
| | 17,874 | | | V.F. Corp. | | | 1,562 | |
| | | | | | | | |
| | | | | | | 23,752 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.01% | |
| | |
| | 241 | | | LendingTree, Inc. (a) | | | 101 | |
| | |
| | 8,783 | | | New York Community Bancorp, Inc. | | | 88 | |
| | |
| | 866 | | | TFS Financial Corp. | | | 16 | |
| | | | | | | | |
| | | | | | | 205 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.42% | |
| | |
| | 77,345 | | | Altria Group, Inc. | | | 3,663 | |
| | |
| | 35,521 | | | Philip Morris International, Inc. | | | 2,789 | |
| | | | | | | | |
| | | | | | | 6,452 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 0.18% | |
| | |
| | 2,084 | | | Air Lease Corp. | | | 86 | |
| | |
| | 28,576 | | | Fastenal Co. | | | 931 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Trading Companies & Distributors (continued) | |
| | |
| | 7,194 | | | HD Supply Holdings, Inc. (a) | | $ | 290 | |
| | |
| | 881 | | | MSC Industrial Direct Co., Inc., Class – A | | | 65 | |
| | |
| | 3,474 | | | United Rentals, Inc. (a) | | | 461 | |
| | |
| | 2,351 | | | Univar, Inc. (a) | | | 52 | |
| | |
| | 2,993 | | | W.W. Grainger, Inc. | | | 803 | |
| | |
| | 605 | | | Watsco, Inc. | | | 99 | |
| | |
| | 897 | | | WESCO International, Inc. (a) | | | 45 | |
| | | | | | | | |
| | | | | | | 2,832 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.00% | |
| | |
| | 1,513 | | | Macquarie Infrastructure Corp. | | | 61 | |
| | | | | | | | |
| |
| | | | Water Utilities — 0.07% | |
| | |
| | 7,306 | | | American Water Works Co., Inc. | | | 847 | |
| | |
| | 4,172 | | | Aqua America, Inc. | | | 173 | |
| | | | | | | | |
| | | | | | | 1,020 | |
| | | | | | | | |
| |
| | | | Wireless Telecommunication Services — 0.17% | |
| | |
| | 12,289 | | | Sprint Nextel Corp. (a) | | | 81 | |
| | |
| | 1,878 | | | Telephone & Data Systems, Inc. | | | 57 | |
| | |
| | 33,427 | | | T-Mobile USA, Inc. (a) | | | 2,478 | |
| | |
| | 91 | | | U.S. Cellular Corp. (a) | | | 4 | |
| | | | | | | | |
| | | | | | | 2,620 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 1,450,126 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | U.S. Treasury Obligation — 0.01% | |
| | |
| $ | 85 | | | U.S. Treasury Bill, 2.05%, 9/12/19 (b)(c) | | | 85 | |
| | | | | | | | |
| | | | Total U.S. Treasury Obligation | | | 85 | |
| | | | | | | | |
| | |
| Shares | | | | | | |
| | | | Exchange-Traded Funds —0.03% | |
| | |
| | 1,539 | | | iShares Russell 1000 ETF | | | 251 | |
| | |
| | 946 | | | Vanguard S&P 500 ETF | | | 254 | |
| | | | | | | | |
| | | | Total Exchange-Traded Funds | | | 505 | |
| | | | | | | | |
| | | | Investment Companies —4.76% | |
| | |
| | 1,635,175 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (d) | | | 1,635 | |
| | |
| | 71,518,504 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (d) | | | 71,519 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 73,154 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | Repurchase Agreement — 0.15% | |
| | |
| $ | 2,278 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $2,278,300 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $2,323,389)^^ | | | 2,278 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 2,278 | |
| | | | | | | | |
| | | | Total Investments
(cost $1,154,685) — 99.36% | | | 1,526,148 | |
| | | | Other assets in excess of liabilities — 0.64% | | | 9,811 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 1,535,959 | |
| | | | | | | | |
See accompanying notes to financial statements.
83
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $3,844 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | The 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 June 30, 2019. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | |
The Institutional Growth Equity Portfolio | | Jennison
Associates, LLC | | | Mellon
Investments
Corporation* | | | Parametric
Portfolio
Associates, LLC | | | HC Capital
Solutions | | | Total | |
Common Stocks | | | 19.22 | % | | | 75.19 | % | | | — | | | | — | | | | 94.41 | % |
| | | | | |
U.S. Treasury Obligation | | | — | | | | 0.01 | % | | | — | | | | — | | | | 0.01 | % |
| | | | | |
Exchange-Traded Fund | | | — | | | | 0.03 | % | | | — | | | | — | | | | 0.03 | % |
| | | | | |
Investment Companies | | | 0.10 | % | | | 0.08 | % | | | 3.89 | % | | | 0.69 | % | | | 4.76 | % |
| | | | | |
Repurchase Agreement | | | 0.15 | % | | | — | | | | — | | | | — | | | | 0.15 | % |
| | | | | |
Other Assets (Liabilities) | | | 0.09 | % | | | 0.23 | % | | | 0.32 | % | | | 0.00 | % | | | 0.64 | % |
| | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 19.56 | % | | | 75.54 | % | | | 4.21 | % | | | 0.69 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount (000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
E-Mini Nasdaq 100 Future | | 202 | | | 9/20/19 | | | $ | 31,083 | | | $ | 234 | |
| | | | |
E-Mini S&P 500 Future | | 404 | | | 9/20/19 | | | | 59,473 | | | | 209 | |
| | | | |
E-Mini S&P Midcap 400 Future | | 4 | | | 9/20/19 | | | | 780 | | | | 18 | |
| | | | | | | | | | | | | | |
| | | | | $ | 91,336 | | | $ | 461 | |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 461 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 461 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
84
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 93.95% | |
| |
| | | | Aerospace & Defense — 1.13% | |
| | |
| | 1,174 | | | AAR Corp. | | $ | 43 | |
| | |
| | 3,994 | | | Axon Enterprise, Inc. (a) | | | 256 | |
| | |
| | 7,000 | | | CPI Aerostructures, Inc. (a) | | | 59 | |
| | |
| | 1,610 | | | Curtiss-Wright Corp. | | | 205 | |
| | |
| | 118 | | | Ducommun, Inc. (a) | | | 5 | |
| | |
| | 18,363 | | | Kratos Defense & Security Solutions, Inc. (a) | | | 421 | |
| | |
| | 42 | | | Mercury Systems, Inc. (a) | | | 3 | |
| | |
| | 26 | | | National Presto Industries, Inc. | | | 2 | |
| | |
| | 7,353 | | | Wesco Aircraft Holdings, Inc. (a) | | | 82 | |
| | | | | | | | |
| | | | | | | 1,076 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.10% | |
| | |
| | 222 | | | Atlas Air Worldwide Holdings, Inc. (a) | | | 10 | |
| | |
| | 1,032 | | | Hub Group, Inc., Class – A (a) | | | 43 | |
| | |
| | 7,398 | | | Radiant Logistics, Inc. (a) | | | 46 | |
| | | | | | | | |
| | | | | | | 99 | |
| | | | | | | | |
| |
| | | | Airlines — 3.62% | |
| | |
| | 2,331 | | | Alaska Air Group, Inc. | | | 149 | |
| | |
| | 167 | | | Allegiant Travel Co. | | | 24 | |
| | |
| | 17,650 | | | American Airlines Group, Inc. | | | 576 | |
| | |
| | 15,057 | | | Azul SA, ADR (a) | | | 504 | |
| | |
| | 2,541 | | | Hawaiian Holdings, Inc. | | | 70 | |
| | |
| | 15,456 | | | JetBlue Airways Corp. (a) | | | 286 | |
| | |
| | 17,254 | | | Mesa Air Group, Inc. (a) | | | 158 | |
| | |
| | 49 | | | SkyWest, Inc. | | | 3 | |
| | |
| | 13,960 | | | United Continental Holdings, Inc. (a) | | | 1,221 | |
| | |
| | 50,044 | | | Volaris Aviation Holding Co., ADR (a) | | | 469 | |
| | | | | | | | |
| | | | | | | 3,460 | |
| | | | | | | | |
| |
| | | | Auto Components — 1.55% | |
| | |
| | 4,582 | | | BorgWarner, Inc. | | | 192 | |
| | |
| | 2,600 | | | Cooper Tire & Rubber Co. | | | 82 | |
| | |
| | 19,957 | | | Dana Holding Corp. | | | 398 | |
| | |
| | 2,655 | | | Fox Factory Holding Corp. (a) | | | 219 | |
| | |
| | 5,687 | | | Garrett Motion, Inc. (a) | | | 87 | |
| | |
| | 475 | | | Gentherm, Inc. (a) | | | 20 | |
| | |
| | 7,079 | | | Modine Manufacturing Co. (a) | | | 101 | |
| | |
| | 4,535 | | | Motorcar Parts of America, Inc. (a) | | | 97 | |
| | |
| | 3,313 | | | Stoneridge, Inc. (a) | | | 105 | |
| | |
| | 5,587 | | | Strattec Security Corp. | | | 135 | |
| | |
| | 833 | | | Visteon Corp. (a) | | | 49 | |
| | | | | | | | |
| | | | | | | 1,485 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.00% | |
| | |
| | 88 | | | Winnebago Industries, Inc. | | | 3 | |
| | | | | | | | |
| |
| | | | Banks — 5.39% | |
| | |
| | 765 | | | 1st Source, Inc. | | | 35 | |
| | |
| | 66 | | | American National Bankshares, Inc. | | | 3 | |
| | |
| | 1,260 | | | Ameris BanCorp | | | 49 | |
| | |
| | 11,900 | | | Associated Banc-Corp. | | | 252 | |
| | |
| | 242 | | | Bank of Commerce Holdings | | | 3 | |
| | |
| | 696 | | | Bank of N.T. Butterfield & Son Ltd. (The) | | | 24 | |
| | |
| | 4,289 | | | Banner Corp. | | | 232 | |
| | |
| | 2,377 | | | Berkshire Hills BanCorp, Inc. | | | 75 | |
| | |
| | 2,815 | | | Brookline BanCorp, Inc. | | | 43 | |
| | |
| | 38 | | | C&F Financial Corp. | | | 2 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Banks (continued) | |
| | |
| | 4,697 | | | Centerstate Bank Corp. | | $ | 108 | |
| | |
| | 56 | | | Chemung Financial Corp. | | | 3 | |
| | |
| | 438 | | | City Holding Co. | | | 33 | |
| | |
| | 92 | | | CNB Financial Corp. | | | 3 | |
| | |
| | 7,044 | | | Columbia Banking System, Inc. | | | 255 | |
| | |
| | 48 | | | Community Trust Bancorp, Inc. | | | 2 | |
| | |
| | 2,072 | | | Cullen/Frost Bankers, Inc. | | | 194 | |
| | |
| | 46 | | | Eagle BanCorp, Inc. | | | 2 | |
| | |
| | 2,800 | | | Enterprise Financial Services Corp. | | | 116 | |
| | |
| | 959 | | | FB Financial Corp. | | | 35 | |
| | |
| | 104 | | | Fidelity Southern Corp. | | | 3 | |
| | |
| | 65 | | | Financial Institutions, Inc. | | | 2 | |
| | |
| | 375 | | | First Bancorp | | | 14 | |
| | |
| | 30,889 | | | First BanCorp | | | 341 | |
| | |
| | 1,694 | | | First Busey Corp. | | | 45 | |
| | |
| | 7 | | | First Citizens BancShares, Inc., Class – A | | | 3 | |
| | |
| | 3,326 | | | First Commonwealth Financial Corp. | | | 45 | |
| | |
| | 77 | | | First Community Bancshares, Inc. | | | 3 | |
| | |
| | 106 | | | First Financial BanCorp | | | 3 | |
| | |
| | 46 | | | First Financial Corp. | | | 2 | |
| | |
| | 11,739 | | | First Horizon National Corp. | | | 175 | |
| | |
| | 127 | | | First Internet BanCorp | | | 3 | |
| | |
| | 61 | | | First Interstate BancSystem, Inc., Class – A | | | 2 | |
| | |
| | 8,529 | | | First Midwest Bancorp, Inc. | | | 175 | |
| | |
| | 848 | | | First Northwest BanCorp | | | 14 | |
| | |
| | 193 | | | First United Corp. | | | 4 | |
| | |
| | 908 | | | FNCB Bancorp, Inc. | | | 7 | |
| | |
| | 46 | | | Great Southern Bancorp, Inc. | | | 3 | |
| | |
| | 63 | | | Hancock Holding Co. | | | 3 | |
| | |
| | 1,028 | | | Heartland Financial USA, Inc. | | | 46 | |
| | |
| | 1,239 | | | Heritage Financial Corp. | | | 37 | |
| | |
| | 945 | | | Hilltop Holdings, Inc. | | | 20 | |
| | |
| | 18,931 | | | Hope Bancorp, Inc. | | | 261 | |
| | |
| | 148 | | | Horizon Bancorp, Inc. | | | 2 | |
| | |
| | 2,191 | | | Iberiabank Corp. | | | 166 | |
| | |
| | 116 | | | Independent Bank Corp. | | | 3 | |
| | |
| | 63 | | | International Bancshares Corp. | | | 2 | |
| | |
| | 6,730 | | | Investors Bancorp, Inc. | | | 75 | |
| | |
| | 148 | | | Lakeland Bancorp, Inc. | | | 2 | |
| | |
| | 889 | | | Lakeland Financial Corp. | | | 42 | |
| | |
| | 1,818 | | | MidSouth Bancorp, Inc. | | | 22 | |
| | |
| | 1,050 | | | National Bank Holdings Corp., Class – A | | | 38 | |
| | |
| | 50 | | | National Bankshares, Inc. | | | 2 | |
| | |
| | 1,255 | | | NBT Bancorp, Inc. | | | 47 | |
| | |
| | 61 | | | Northrim BanCorp, Inc. | | | 2 | |
| | |
| | 557 | | | OFG Bancorp | | | 13 | |
| | |
| | 133 | | | Old National Bancorp | | | 2 | |
| | |
| | 545 | | | Pacific Mercantile BanCorp (a) | | | 4 | |
| | |
| | 2,304 | | | Pacific Premier Bancorp, Inc. | | | 71 | |
| | |
| | 2,895 | | | PacWest Bancorp | | | 112 | |
| | |
| | 444 | | | Park National Corp. | | | 44 | |
| | |
| | 79 | | | Peoples Bancorp, Inc. | | | 3 | |
| | |
| | 5,762 | | | Popular, Inc. | | | 313 | |
| | |
| | 141 | | | Premier Financial Bancorp, Inc. | | | 2 | |
| | |
| | 1,153 | | | S & T BanCorp, Inc. | | | 43 | |
See accompanying notes to financial statements.
85
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Banks (continued) | |
| | |
| | 1,171 | | | Sandy Spring BanCorp, Inc. | | $ | 41 | |
| | |
| | 8,214 | | | Seacoast Banking Corporation of Florida (a) | | | 209 | |
| | |
| | 102 | | | Sierra Bancorp | | | 3 | |
| | |
| | 682 | | | Southside Bancshares, Inc. | | | 22 | |
| | |
| | 936 | | | Spirit of Texas Bancshares, Inc. (a) | | | 21 | |
| | |
| | 5,061 | | | Synovus Financial Corp. | | | 177 | |
| | |
| | 6,923 | | | TCF Financial Corp. | | | 144 | |
| | |
| | 3,211 | | | Texas Capital Bancshares, Inc. (a) | | | 197 | |
| | |
| | 519 | | | Tompkins TrustCo, Inc. | | | 42 | |
| | |
| | 4,933 | | | TriCo Bancshares | | | 186 | |
| | |
| | 101 | | | Triumph Bancorp, Inc. (a) | | | 3 | |
| | |
| | 67 | | | Trustmark Corp. | | | 2 | |
| | |
| | 109 | | | Umpqua Holdings Corp. | | | 2 | |
| | |
| | 7,590 | | | Webster Financial Corp. | | | 362 | |
| | |
| | 761 | | | Westamerica Bancorp | | | 47 | |
| | | | | | | | |
| | | | | | | 5,148 | |
| | | | | | | | |
| |
| | | | Beverages — 0.00% | |
| | |
| | 705 | | | Celsius Holdings, Inc. (a) | | | 3 | |
| | | | | | | | |
| |
| | | | Biotechnology — 2.96% | |
| | |
| | 389 | | | Acadia Pharmaceuticals, Inc. (a) | | | 10 | |
| | |
| | 4,670 | | | Adamas Pharmaceuticals, Inc. (a) | | | 29 | |
| | |
| | 9,765 | | | ADMA Biologics, Inc.^ (a) | | | 38 | |
| | |
| | 15,661 | | | Aduro Biotech, Inc. (a) | | | 24 | |
| | |
| | 1,902 | | | Aimmune Therapeutics, Inc. (a) | | | 40 | |
| | |
| | 210 | | | Amicus Therapeutics, Inc. (a) | | | 3 | |
| | |
| | 468 | | | Apellis Pharmaceuticals, Inc. (a) | | | 12 | |
| | |
| | 716 | | | Aptinyx, Inc. (a) | | | 2 | |
| | |
| | 4,507 | | | Ardelyx, Inc. (a) | | | 12 | |
| | |
| | 643 | | | Arena Pharmaceuticals, Inc. (a) | | | 38 | |
| | |
| | 406 | | | ArQule, Inc. (a) | | | 4 | |
| | |
| | 727 | | | Array BioPharma, Inc. (a) | | | 34 | |
| | |
| | 1,119 | | | Arrowhead Pharmaceuticals, Inc. (a) | | | 30 | |
| | |
| | 1,184 | | | Ascendis Pharma A/S, ADR (a) | | | 136 | |
| | |
| | 482 | | | Audentes Therapeutics, Inc. (a) | | | 18 | |
| | |
| | 394 | | | Biohaven Pharmaceutical Holding Co. Ltd. (a) | | | 17 | |
| | |
| | 74 | | | Blueprint Medicines Corp. (a) | | | 7 | |
| | |
| | 423 | | | CareDx, Inc. (a) | | | 15 | |
| | |
| | 8,011 | | | Chimerix, Inc. (a) | | | 35 | |
| | |
| | 181 | | | Coherus Biosciences, Inc. (a) | | | 4 | |
| | |
| | 6,038 | | | Corvus Pharmaceuticals, Inc. (a) | | | 23 | |
| | |
| | 311 | | | Cue BioPharma, Inc. (a) | | | 3 | |
| | |
| | 133 | | | Denali Therapeutics, Inc. (a) | | | 3 | |
| | |
| | 116 | | | Emergent BioSolutions, Inc. (a) | | | 6 | |
| | |
| | 32 | | | Enanta Pharmaceuticals, Inc. (a) | | | 3 | |
| | |
| | 210 | | | Epizyme, Inc. (a) | | | 3 | |
| | |
| | 292 | | | Fate Therapeutics, Inc. (a) | | | 6 | |
| | |
| | 1,639 | | | Fortress Biotech, Inc. (a) | | | 2 | |
| | |
| | 150 | | | G1 Therapeutics, Inc. (a) | | | 5 | |
| | |
| | 252 | | | Global Blood Therapeutics, Inc. (a) | | | 13 | |
| | |
| | 6,483 | | | Idera Pharmaceuticals, Inc. (a) | | | 17 | |
| | |
| | 4,339 | | | Intrexon Corp. (a) | | | 33 | |
| | |
| | 179 | | | Invitae Corp. (a) | | | 4 | |
| | |
| | 1,370 | | | Iovance Biotherapeutics, Inc. (a) | | | 34 | |
| | |
| | 6,964 | | | Jounce Therapeutics, Inc. (a) | | | 34 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Biotechnology (continued) | |
| | |
| | 29,600 | | | Kindred Biosciences, Inc. (a) | | $ | 247 | |
| | |
| | 21 | | | Ligand Pharmaceuticals, Inc., Class – B (a) | | | 2 | |
| | |
| | 2,921 | | | MEI Pharma, Inc. | | | 7 | |
| | |
| | 5,744 | | | Mersana Therapeutics, Inc. (a) | | | 23 | |
| | |
| | 5,131 | | | Minerva Neurosciences, Inc. (a) | | | 29 | |
| | |
| | 5,845 | | | Miragen Therapeutics, Inc. (a) | | | 12 | |
| | |
| | 1,302 | | | Mirati Therapeutics, Inc. (a) | | | 134 | |
| | |
| | 217 | | | Momenta Pharmaceuticals, Inc. (a) | | | 3 | |
| | |
| | 7,598 | | | Mustang Bio, Inc. (a) | | | 28 | |
| | |
| | 12,775 | | | Myriad Genetics, Inc. (a) | | | 354 | |
| | |
| | 432 | | | Natera, Inc. (a) | | | 12 | |
| | |
| | 1,780 | | | Neurocrine Biosciences, Inc. (a) | | | 150 | |
| | |
| | 4,958 | | | Novavax, Inc. (a) | | | 29 | |
| | |
| | 17,314 | | | OPKO Health, Inc. (a) | | | 42 | |
| | |
| | 918 | | | Pieris Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 4,694 | | | PolarityTE, Inc. (a) | | | 27 | |
| | |
| | 570 | | | PTC Therapeutics, Inc. (a) | | | 26 | |
| | |
| | 9,942 | | | Recro Pharma, Inc. (a) | | | 101 | |
| | |
| | 412 | | | Regenxbio, Inc. (a) | | | 21 | |
| | |
| | 3,313 | | | Repligen Corp. (a) | | | 285 | |
| | |
| | 2,254 | | | Rubius Therapeutics, Inc. (a) | | | 35 | |
| | |
| | 560 | | | Sage Therapeutics, Inc. (a) | | | 103 | |
| | |
| | 5,441 | | | Sangamo BioSciences, Inc. (a) | | | 59 | |
| | |
| | 9,634 | | | Savara, Inc. (a) | | | 23 | |
| | |
| | 1,154 | | | Selecta Biosciences, Inc. (a) | | | 2 | |
| | |
| | 5,108 | | | Seres Therapeutics, Inc. (a) | | | 16 | |
| | |
| | 5,795 | | | Solid Biosciences, Inc. (a) | | | 33 | |
| | |
| | 890 | | | Spark Therapeutics, Inc. (a) | | | 91 | |
| | |
| | 4,566 | | | Spectrum Pharmaceuticals, Inc. (a) | | | 39 | |
| | |
| | 5,283 | | | Syndax Pharmaceuticals, Inc. (a) | | | 49 | |
| | |
| | 4,284 | | | Tocagen, Inc. (a) | | | 29 | |
| | |
| | 159 | | | Vericel Corp. (a) | | | 3 | |
| | |
| | 2,222 | | | Xencor, Inc. (a) | | | 91 | |
| | |
| | 1,685 | | | Xoma Corp.^ (a) | | | 25 | |
| | | | | | | | |
| | | | | | | 2,831 | |
| | | | | | | | |
| |
| | | | Building Products — 1.61% | |
| | |
| | 3,545 | | | Builders FirstSource, Inc. (a) | | | 60 | |
| | |
| | 6,744 | | | Gibraltar Industries, Inc. (a) | | | 272 | |
| | |
| | 16,908 | | | Jeld-Wen Holding, Inc. (a) | | | 359 | |
| | |
| | 5,330 | | | Masonite International Corp. (a) | | | 281 | |
| | |
| | 5,701 | | | Trex Company, Inc. (a) | | | 409 | |
| | |
| | 4,158 | | | Universal Forest Products, Inc. | | | 158 | |
| | | | | | | | |
| | | | | | | 1,539 | |
| | | | | | | | |
| |
| | | | Capital Markets — 2.02% | |
| | |
| | 7,147 | | | Artisan Partners Asset Management, Inc., Class – A | | | 197 | |
| | |
| | 2,071 | | | Blucora, Inc. (a) | | | 63 | |
| | |
| | 3,151 | | | Brightsphere Investment Group | | | 36 | |
| | |
| | 15,475 | | | Cowen Group, Inc., Class – A (a) | | | 266 | |
| | |
| | 1,360 | | | Focus Financial Partners, Inc., Class – A (a) | | | 37 | |
| | |
| | 5,473 | | | Gain Capital Holdings, Inc. | | | 23 | |
| | |
| | 6,478 | | | Greenhill & Co., Inc. | | | 88 | |
| | |
| | 184 | | | Hamilton Lane, Inc. | | | 10 | |
| | |
| | 75 | | | Houlihan Lokey, Inc. | | | 3 | |
| | |
| | 5,102 | | | LPL Financial Holdings, Inc. | | | 416 | |
| | |
| | 34 | | | Piper Jaffray Companies, Inc. | | | 3 | |
See accompanying notes to financial statements.
86
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Capital Markets (continued) | |
| | |
| | 3,287 | | | Raymond James Financial, Inc. | | $ | 278 | |
| | |
| | 12,000 | | | Safeguard Scientifics, Inc. (a) | | | 145 | |
| | |
| | 3,724 | | | Stifel Financial Corp. | | | 220 | |
| | |
| | 5,752 | | | Victory Capital Holdings, Inc., Class – A (a) | | | 99 | |
| | |
| | 2,479 | | | Waddell & Reed Financial, Inc., Class – A | | | 41 | |
| | | | | | | | |
| | | | | | | 1,925 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.72% | |
| | |
| | 2,448 | | | Albemarle Corp. | | | 172 | |
| | |
| | 48 | | | Cabot Corp. | | | 2 | |
| | |
| | 2,785 | | | Ferro Corp. (a) | | | 44 | |
| | |
| | 6,817 | | | FMC Corp. | | | 566 | |
| | |
| | 158 | | | Huntsman Corp. | | | 3 | |
| | |
| | 11,784 | | | Kraton Performance Polymers, Inc. (a) | | | 366 | |
| | |
| | 300 | | | Kronos Worldwide, Inc. | | | 5 | |
| | |
| | 4,552 | | | LSB Industries, Inc. (a) | | | 18 | |
| | |
| | 498 | | | NewMarket Corp. | | | 200 | |
| | |
| | 2,044 | | | Orion Engineered Carbons SA | | | 44 | |
| | |
| | 57 | | | Stepan Co. | | | 5 | |
| | |
| | 17,314 | | | Tronox Holdings PLC, Class – A | | | 221 | |
| | | | | | | | |
| | | | | | | 1,646 | |
| | | | | | | | |
| |
| | | | Commercial Services & Supplies — 1.52% | |
| | |
| | 2,734 | | | ABM Industries, Inc. | | | 109 | |
| | |
| | 11,982 | | | Aqua Metals, Inc. (a) | | | 20 | |
| | |
| | 9,512 | | | ARC Document Solutions, Inc. (a) | | | 19 | |
| | |
| | 2,196 | | | BrightView Holdings, Inc. (a) | | | 41 | |
| | |
| | 1,307 | | | Casella Waste Systems, Inc. (a) | | | 52 | |
| | |
| | 7,424 | | | CECO Environmental Corp. (a) | | | 71 | |
| | |
| | 14,415 | | | Covanta Holding Corp. | | | 258 | |
| | |
| | 1,210 | | | Deluxe Corp. | | | 49 | |
| | |
| | 93 | | | Ennis, Inc. | | | 2 | |
| | |
| | 461 | | | Herman Miller, Inc. | | | 21 | |
| | |
| | 19,824 | | | Interface, Inc. | | | 305 | |
| | |
| | 125 | | | Knoll, Inc. | | | 3 | |
| | |
| | 7,429 | | | LSC Communications, Inc. | | | 27 | |
| | |
| | 1,170 | | | Matthews International Corp., Class – A | | | 41 | |
| | |
| | 2,448 | | | McGrath RentCorp | | | 152 | |
| | |
| | 1,454 | | | Mobile Mini, Inc. | | | 44 | |
| | |
| | 703 | | | Multi-Color Corp. | | | 35 | |
| | |
| | 14,069 | | | RR Donnelley & Sons Co. | | | 28 | |
| | |
| | 9,718 | | | Steelcase, Inc., Class – A | | | 166 | |
| | |
| | 15 | | | UniFirst Corp. | | | 3 | |
| | |
| | 133 | | | US Ecology, Inc. | | | 8 | |
| | |
| | 48 | | | VSE Corp. | | | 1 | |
| | | | | | | | |
| | | | | | | 1,455 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 0.70% | |
| | |
| | 7,622 | | | Acacia Communications, Inc. (a) | | | 360 | |
| | |
| | 225 | | | Ciena Corp. (a) | | | 9 | |
| | |
| | 673 | | | Clearfield, Inc. (a) | | | 9 | |
| | |
| | 129 | | | Comtech Telecommunications Corp. | | | 4 | |
| | |
| | 682 | | | DASAN Zhone Solutions, Inc. (a) | | | 9 | |
| | |
| | 27,100 | | | EMCORE Corp. (a) | | | 89 | |
| | |
| | 451 | | | Finisar Corp. (a) | | | 10 | |
| | |
| | 266 | | | KVH Industries, Inc. (a) | | | 3 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Communications Equipment (continued) | |
| | |
| | 550 | | | Lumentum Holdings, Inc. (a) | | $ | 29 | |
| | |
| | 23,500 | | | PC-Telephone, Inc. | | | 104 | |
| | |
| | 1,108 | | | Plantronics, Inc. | | | 41 | |
| | |
| | 226 | | | Viavi Solutions, Inc. (a) | | | 3 | |
| | | | | | | | |
| | | | | | | 670 | |
| | | | | | | | |
| |
| | | | Construction & Engineering — 2.67% | |
| | |
| | 1,546 | | | Ameresco, Inc., Class – A (a) | | | 23 | |
| | |
| | 38 | | | Arcosa, Inc. | | | 1 | |
| | |
| | 505 | | | Dycom Industries, Inc. (a) | | | 30 | |
| | |
| | 1,213 | | | EMCOR Group, Inc. | | | 107 | |
| | |
| | 3,625 | | | Granite Construction, Inc. | | | 175 | |
| | |
| | 35,385 | | | KBR, Inc. | | | 883 | |
| | |
| | 10,714 | | | MasTec, Inc. (a) | | | 552 | |
| | |
| | 107 | | | MYR Group, Inc. (a) | | | 4 | |
| | |
| | 10,158 | | | Orion Group Holdings, Inc. (a) | | | 27 | |
| | |
| | 50,978 | | | Tutor Perini Corp. (a) | | | 707 | |
| | |
| | 2,938 | | | Willscot Corp. (a) | | | 44 | |
| | | | | | | | |
| | | | | | | 2,553 | |
| | | | | | | | |
| |
| | | | Construction Materials — 0.58% | |
| | |
| | 1,627 | | | Eagle Materials, Inc., Class – A | | | 151 | |
| | |
| | 11,106 | | | Forterra, Inc. (a) | | | 55 | |
| | |
| | 1,058 | | | Martin Marietta Materials, Inc. | | | 243 | |
| | |
| | 5,497 | | | Summit Materials, Inc., Class – A (a) | | | 106 | |
| | | | | | | | |
| | | | | | | 555 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 0.61% | |
| | |
| | 602 | | | Elevate Credit, Inc. (a) | | | 2 | |
| | |
| | 137 | | | Encore Capital Group, Inc. (a) | | | 5 | |
| | |
| | 5,454 | | | Green Dot Corp., Class – A (a) | | | 266 | |
| | |
| | 23,416 | | | LendingClub Corp. (a) | | | 77 | |
| | |
| | 3,671 | | | Medallion Financial Corp. | | | 25 | |
| | |
| | 43 | | | Nelnet, Inc., Class – A | | | 3 | |
| | |
| | 7,211 | | | PRA Group, Inc. (a) | | | 203 | |
| | |
| | 24 | | | World Acceptance Corp. (a) | | | 4 | |
| | | | | | | | |
| | | | | | | 585 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.39% | |
| | |
| | 1,316 | | | AptarGroup, Inc. | | | 164 | |
| | |
| | 14,890 | | | Graphic Packaging Holding Co. | | | 208 | |
| | | | | | | | |
| | | | | | | 372 | |
| | | | | | | | |
| |
| | | | Distributors — 0.10% | |
| | |
| | 74 | | | Core-Mark Holding Co., Inc. | | | 3 | |
| | |
| | 2,924 | | | Greenlane Holdings, Inc., Class – A | | | 28 | |
| | |
| | 340 | | | Pool Corp. | | | 65 | |
| | | | | | | | |
| | | | | | | 96 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 1.82% | |
| | |
| | 23,379 | | | Career Education Corp. (a) | | | 446 | |
| | |
| | 9,578 | | | Chegg, Inc. (a) | | | 370 | |
| | |
| | 7,950 | | | Frontdoor, Inc. (a) | | | 346 | |
| | |
| | 127 | | | Grand Canyon Education, Inc. (a) | | | 15 | |
| | |
| | 1,916 | | | K12, Inc. (a) | | | 58 | |
| | |
| | 2,273 | | | OneSpaWorld Holdings Ltd. (a) | | | 35 | |
| | |
| | 4,110 | | | Regis Corp. (a) | | | 68 | |
| | |
| | 2,055 | | | Strategic Education, Inc. | | | 366 | |
| | |
| | 1,949 | | | Weight Watchers International, Inc. (a) | | | 37 | |
| | | | | | | | |
| | | | | | | 1,741 | |
| | | | | | | | |
See accompanying notes to financial statements.
87
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Diversified Financial Services — 0.31% | |
| | |
| | 869 | | | Banco Latinoamericano de Comercio Exterior SA, Class – E | | $ | 18 | |
| | |
| | 2,195 | | | Cannae Holdings, Inc. (a) | | | 64 | |
| | |
| | 2,605 | | | FGL Holdings, Inc. | | | 22 | |
| | |
| | 9,830 | | | Jefferies Financial Group, Inc. | | | 189 | |
| | |
| | 99 | | | Marlin Business Services Corp. | | | 2 | |
| | | | | | | | |
| | | | | | | 295 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 1.18% | |
| | |
| | 45 | | | ATN International, Inc. | | | 3 | |
| | |
| | 10,951 | | | Cogent Communications Group, Inc. | | | 650 | |
| | |
| | 17,183 | | | Frontier Communications Corp.^ (a) | | | 30 | |
| | |
| | 5,817 | | | IDT Corp. (a) | | | 55 | |
| | |
| | 5,781 | | | Intelsat SA (a) | | | 112 | |
| | |
| | 221 | | | Iridium Communications, Inc. (a) | | | 5 | |
| | |
| | 34,500 | | | ORBCOMM, Inc. (a) | | | 250 | |
| | |
| | 2,565 | | | Vonage Holdings Corp. (a) | | | 29 | |
| | | | | | | | |
| | | | | | | 1,134 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 0.28% | |
| | |
| | 1,522 | | | El Paso Electric Co. | | | 101 | |
| | |
| | 3,048 | | | Genie Energy Ltd. | | | 32 | |
| | |
| | 98 | | | Hawaiian Electric Industries, Inc. | | | 4 | |
| | |
| | 33 | | | IDACORP, Inc. | | | 3 | |
| | |
| | 826 | | | MGE Energy, Inc. | | | 60 | |
| | |
| | 1,016 | | | Otter Tail Corp. | | | 54 | |
| | |
| | 158 | | | PNM Resources, Inc. | | | 8 | |
| | |
| | 73 | | | Portland General Electric Co. | | | 4 | |
| | | | | | | | |
| | | | | | | 266 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.53% | |
| | |
| | 2,910 | | | Bloom Energy Corp., Class – A (a) | | | 36 | |
| | |
| | 2,961 | | | Encore Wire Corp. | | | 174 | |
| | |
| | 6,632 | | | Energous Corp. (a) | | | 29 | |
| | |
| | 1,012 | | | EnerSys | | | 69 | |
| | |
| | 25,300 | | | Orion Energy Systems, Inc. (a) | | | 75 | |
| | |
| | 6,717 | | | Sunrun, Inc. (a) | | | 126 | |
| | | | | | | | |
| | | | | | | 509 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 4.04% | |
| | |
| | 501 | | | Airgain, Inc. (a) | | | 7 | |
| | |
| | 5,667 | | | Anixter International, Inc. (a) | | | 338 | |
| | |
| | 75 | | | Benchmark Electronics, Inc. | | | 2 | |
| | |
| | 25,926 | | | Celestica, Inc. (a) | | | 177 | |
| | |
| | 34 | | | Dolby Laboratories, Inc., Class – A | | | 2 | |
| | |
| | 47 | | | ePlus, Inc. (a) | | | 3 | |
| | |
| | 3,045 | | | Fabrinet (a) | | | 152 | |
| | |
| | 23,705 | | | Flextronics International Ltd. (a) | | | 227 | |
| | |
| | 2,994 | | | Insight Enterprises, Inc. (a) | | | 174 | |
| | |
| | 565 | | | IPG Photonics Corp. (a) | | | 87 | |
| | |
| | 641 | | | Iteris, Inc. (a) | | | 3 | |
| | |
| | 6,411 | | | Itron, Inc. (a) | | | 402 | |
| | |
| | 16,705 | | | Jabil Circuit, Inc. | | | 529 | |
| | |
| | 3,712 | | | KEMET Corp. | | | 70 | |
| | |
| | 131 | | | Kimball Electronics, Inc. (a) | | | 2 | |
| | |
| | 2,844 | | | Knowles Corp. (a) | | | 52 | |
| | |
| | 1,065 | | | Littelfuse, Inc. | | | 188 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Electronic Equipment, Instruments & Components (continued) | |
| | |
| | 3,748 | | | Methode Electronics, Inc. | | $ | 107 | |
| | |
| | 1,420 | | | OSI Systems, Inc. (a) | | | 160 | |
| | |
| | 64 | | | PC Connection, Inc. | | | 2 | |
| | |
| | 3,113 | | | PCM, Inc. (a) | | | 109 | |
| | |
| | 19,900 | | | Perceptron, Inc. (a) | | | 89 | |
| | |
| | 37 | | | Plexus Corp. (a) | | | 2 | |
| | |
| | 4,193 | | | Rogers Corp. (a) | | | 725 | |
| | |
| | 59 | | | Sanmina Corp. (a) | | | 2 | |
| | |
| | 7,278 | | | ScanSource, Inc. (a) | | | 237 | |
| | |
| | 34 | | | SYNNEX Corp. | | | 3 | |
| | |
| | 22 | | | Tech Data Corp. (a) | | | 2 | |
| | |
| | 327 | | | TTM Technologies, Inc. (a) | | | 3 | |
| | |
| | 135 | | | Vishay Intertechnology, Inc. | | | 2 | |
| | | | | | | | |
| | | | | | | 3,858 | |
| | | | | | | | |
| |
| | | | Energy Equipment & Services — 1.87% | |
| | |
| | 12,200 | | | Aspen Aerogels, Inc. (a) | | | 87 | |
| | |
| | 16,664 | | | C&J Energy Services, Inc. (a) | | | 196 | |
| | |
| | 1,846 | | | Dril-Quip, Inc. (a) | | | 89 | |
| | |
| | 11,333 | | | Ensco Rowan PLC, Class – A | | | 97 | |
| | |
| | 6,271 | | | Franks International N.V. (a) | | | 34 | |
| | |
| | 5,800 | | | Gulf Island Fabrication, Inc. (a) | | | 41 | |
| | |
| | 4,521 | | | Independence Contract Drilling, Inc. (a) | | | 7 | |
| | |
| | 4,545 | | | Ion Geophysical (a) | | | 37 | |
| | |
| | 1,547 | | | Liberty Oilfield Services, Inc. | | | 25 | |
| | |
| | 5,876 | | | McDermott International, Inc. (a) | | | 57 | |
| | |
| | 30,600 | | | Mitcham Industries, Inc. (a) | | | 121 | |
| | |
| | 13,776 | | | Nabors Industries Ltd. | | | 40 | |
| | |
| | 32,992 | | | Noble Corp. PLC (a) | | | 62 | |
| | |
| | 3,145 | | | Oceaneering International, Inc. (a) | | | 64 | |
| | |
| | 706 | | | Oil States International, Inc. (a) | | | 13 | |
| | |
| | 15,469 | | | Profire Energy, Inc. (a) | | | 23 | |
| | |
| | 4,360 | | | RPC, Inc. | | | 31 | |
| | |
| | 19,066 | | | Smart Sand, Inc. (a) | | | 47 | |
| | |
| | 5,818 | | | TechnipFMC PLC | | | 150 | |
| | |
| | 50,013 | | | Transocean Ltd. (a) | | | 321 | |
| | |
| | 18,800 | | | US Silica Holdings, Inc. | | | 240 | |
| | | | | | | | |
| | | | | | | 1,782 | |
| | | | | | | | |
| |
| | | | Entertainment — 0.49% | |
| | |
| | 58,000 | | | Ballantyne Strong, Inc. (a) | | | 187 | |
| | |
| | 8,685 | | | Eros International PLC (a) | | | 12 | |
| | |
| | 77,523 | | | Global Eagle Entertainment, Inc. (a) | | | 50 | |
| | |
| | 1,891 | | | IMAX Corp. (a) | | | 38 | |
| | |
| | 93 | | | Liberty Braves Group (a) | | | 3 | |
| | |
| | 13,406 | | | Lions Gate Entertainment Corp., Class – B | | | 156 | |
| | |
| | 88 | | | Marcus Corp. | | | 3 | |
| | |
| | 900 | | | Rosetta Stone, Inc. (a) | | | 21 | |
| | | | | | | | |
| | | | | | | 470 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 2.37% | |
| | |
| | 2,510 | | | Alexander & Baldwin, Inc. | | | 58 | |
| | |
| | 3,912 | | | American Finance Trust, Inc. | | | 43 | |
| | |
| | 6,576 | | | Bluerock Residential Growth REIT, Inc. | | | 77 | |
| | |
| | 2,306 | | | CareTrust REIT, Inc. | | | 55 | |
| | |
| | 424 | | | Chatham Lodging Trust | | | 8 | |
| | |
| | 1,702 | | | Chesapeake Lodging Trust | | | 48 | |
See accompanying notes to financial statements.
88
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 2,766 | | | Clipper Realty, Inc. | | $ | 31 | |
| | |
| | 224 | | | CoreCivic, Inc. | | | 5 | |
| | |
| | 536 | | | CorePoint Lodging, Inc. | | | 7 | |
| | |
| | 11,932 | | | Corporate Office Properties Trust | | | 314 | |
| | |
| | 1,335 | | | Cousins Properties, Inc. | | | 48 | |
| | |
| | 7,247 | | | DiamondRock Hospitality Co. | | | 75 | |
| | |
| | 2,374 | | | EastGroup Properties, Inc. | | | 275 | |
| | |
| | 6,646 | | | Equity Commonwealth | | | 216 | |
| | |
| | 1,350 | | | Franklin Street Properties Corp. | | | 10 | |
| | |
| | 1,197 | | | Getty Realty Corp. | | | 37 | |
| | |
| | 6,912 | | | Global Medical REIT, Inc. | | | 73 | |
| | |
| | 3,640 | | | Global Net Lease, Inc. | | | 71 | |
| | |
| | 2,387 | | | Independence Realty Trust, Inc. | | | 28 | |
| | |
| | 2,138 | | | Industrial Logistics Property Trust | | | 45 | |
| | |
| | 1,824 | | | Innovative Industrial Properties, Inc.^ | | | 225 | |
| | |
| | 2,600 | | | Jernigan Capital, Inc. | | | 53 | |
| | |
| | 5,636 | | | Lexington Realty Trust | | | 53 | |
| | |
| | 1,093 | | | LTC Properties, Inc. | | | 50 | |
| | |
| | 2,118 | | | Mack-Cali Realty Corp. | | | 49 | |
| | |
| | 3,088 | | | Monmouth Real Estate Investment Corp., Class – A | | | 42 | |
| | |
| | 1,583 | | | National Storage Affiliates | | | 46 | |
| | |
| | 1,687 | | | Office Properties Income Trust | | | 44 | |
| | |
| | 24 | | | PS Business Parks, Inc. | | | 4 | |
| | |
| | 59 | | | QTS Realty Trust, Inc., Class – L | | | 3 | |
| | |
| | 128 | | | RLJ Lodging Trust | | | 2 | |
| | |
| | 2,941 | | | RPT Realty | | | 36 | |
| | |
| | 634 | | | Saul Centers, Inc. | | | 36 | |
| | |
| | 1,797 | | | Senior Housing Properties Trust | | | 15 | |
| | |
| | 1,124 | | | Seritage Growth Properties | | | 48 | |
| | |
| | 1,651 | | | Summit Hotel Properties, Inc. | | | 19 | |
| | |
| | 137 | | | The Geo Group, Inc. | | | 3 | |
| | |
| | 165 | | | Universal Health Realty Income Trust | | | 14 | |
| | | | | | | | |
| | | | | | | 2,266 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 0.42% | |
| | |
| | 1,437 | | | Casey’s General Stores, Inc. | | | 224 | |
| | |
| | 5,081 | | | Chefs’ Warehouse Holdings LLC (a) | | | 178 | |
| | | | | | | | |
| | | | | | | 402 | |
| | | | | | | | |
| |
| | | | Food Products — 0.67% | |
| | |
| | 517 | | | Calavo Growers, Inc. | | | 50 | |
| | |
| | 41 | | | Cal-Maine Foods, Inc. | | | 2 | |
| | |
| | 9,474 | | | Darling Ingredients, Inc. (a) | | | 188 | |
| | |
| | 1,375 | | | Fresh Del Monte Produce, Inc. | | | 37 | |
| | |
| | 382 | | | Freshpet, Inc. (a) | | | 17 | |
| | |
| | 4,840 | | | Hostess Brands, Inc. (a) | | | 70 | |
| | |
| | 1,554 | | | J&J Snack Foods Corp. | | | 250 | |
| | |
| | 39 | | | John B. Sanfilippo & Son, Inc. | | | 3 | |
| | |
| | 776 | | | Simply Good Foods Co. (The) (a) | | | 19 | |
| | | | | | | | |
| | | | | | | 636 | |
| | | | | | | | |
| |
| | | | Gas Utilities — 0.35% | |
| | |
| | 480 | | | Chesapeake Utilities Corp. | | | 46 | |
| | |
| | 776 | | | Northwest Natural Holding Co. | | | 54 | |
| | |
| | 680 | | | South Jersey Industries, Inc. | | | 23 | |
| | |
| | 38 | | | Southwest Gas Corp. | | | 3 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Gas Utilities (continued) | |
| | |
| | 3,977 | | | UGI Corp. | | $ | 212 | |
| | | | | | | | |
| | | | | | | 338 | |
| | | | | | | | |
| |
| | | | Health Care Equipment & Supplies — 6.81% | |
| | |
| | 248 | | | Abiomed, Inc. (a) | | | 65 | |
| | |
| | 240 | | | Avanos Medical, Inc. (a) | | | 10 | |
| | |
| | 155 | | | AxoGen, Inc. (a) | | | 3 | |
| | |
| | 2,786 | | | Cantel Medical Corp. | | | 225 | |
| | |
| | 8,660 | | | Cardiovascular Systems, Inc. (a) | | | 372 | |
| | |
| | 3,520 | | | Dexcom, Inc. (a) | | | 527 | |
| | |
| | 2,568 | | | Edwards Lifesciences Corp. (a) | | | 474 | |
| | |
| | 3,936 | | | Endologix, Inc. (a) | | | 28 | |
| | |
| | 3,943 | | | Glaukos Corp. (a) | | | 297 | |
| | |
| | 642 | | | Inogen, Inc. (a) | | | 43 | |
| | |
| | 8,769 | | | Insulet Corp. (a) | | | 1,046 | |
| | |
| | 38 | | | Integer Holdings Corp. (a) | | | 3 | |
| | |
| | 3,080 | | | Intricon Corp. (a) | | | 72 | |
| | |
| | 5,703 | | | Invacare Corp. | | | 30 | |
| | |
| | 2,575 | | | iRhythm Technologies, Inc. (a) | | | 204 | |
| | |
| | 480 | | | Lantheus Holdings, Inc. (a) | | | 14 | |
| | |
| | 3,198 | | | Neogen Corp. (a) | | | 199 | |
| | |
| | 802 | | | Neuronetics, Inc. (a) | | | 10 | |
| | |
| | 953 | | | Nevro Corp. (a) | | | 62 | |
| | |
| | 5,642 | | | Novocure Ltd. (a) | | | 357 | |
| | |
| | 49 | | | NuVasive, Inc. (a) | | | 3 | |
| | |
| | 44 | | | Quidel Corp. (a) | | | 3 | |
| | |
| | 10,753 | | | Rockwell Medical Technologies, Inc.^ (a) | | | 32 | |
| | |
| | 11,309 | | | STAAR Surgical Co. (a) | | | 332 | |
| | |
| | 1,725 | | | STERIS PLC | | | 257 | |
| | |
| | 9,496 | | | Tandem Diabetes Care, Inc. (a) | | | 613 | |
| | |
| | 2,346 | | | The Cooper Companies, Inc. | | | 790 | |
| | |
| | 7,961 | | | Varex Imaging Corp. (a) | | | 244 | |
| | |
| | 1,494 | | | West Pharmaceutical Services, Inc. | | | 187 | |
| | | | | | | | |
| | | | | | | 6,502 | |
| | | | | | | | |
| |
| | | | Health Care Providers & Services — 1.75% | |
| | |
| | 9,339 | | | Acadia Healthcare Company, Inc. (a) | | | 327 | |
| | |
| | 126 | | | Addus HomeCare Corp. (a) | | | 9 | |
| | |
| | 415 | | | American Renal Associates Holdings, Inc. (a) | | | 3 | |
| | |
| | 599 | | | AMN Healthcare Services, Inc. (a) | | | 32 | |
| | |
| | 1,638 | | | BioScrip, Inc. (a) | | | 4 | |
| | |
| | 6,225 | | | Brookdale Senior Living, Inc. (a) | | | 45 | |
| | |
| | 13 | | | Chemed Corp. | | | 5 | |
| | |
| | 153 | | | CorVel Corp. (a) | | | 13 | |
| | |
| | 14,213 | | | Diplomat Pharmacy, Inc. (a) | | | 87 | |
| | |
| | 47 | | | Encompass Health Corp. | | | 3 | |
| | |
| | 1,883 | | | Guardant Health, Inc. (a) | | | 163 | |
| | |
| | 2,244 | | | HealthEquity, Inc. (a) | | | 147 | |
| | |
| | 2,094 | | | LHC Group, Inc. (a) | | | 250 | |
| | |
| | 373 | | | Magellan Health Services, Inc. (a) | | | 28 | |
| | |
| | 36 | | | Molina Heathcare, Inc. (a) | | | 5 | |
| | |
| | 488 | | | National Healthcare Corp. | | | 40 | |
| | |
| | 1,061 | | | Patterson Companies, Inc. | | | 24 | |
| | |
| | 203 | | | Petiq, Inc. (a) | | | 7 | |
| | |
| | 39 | | | Providence Service Corp. (a) | | | 2 | |
| | |
| | 954 | | | R1 RCM, Inc. (a) | | | 12 | |
| | |
| | 1,403 | | | Select Medical Holdings Corp. (a) | | | 22 | |
See accompanying notes to financial statements.
89
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Providers & Services (continued) | |
| | |
| | 2,414 | | | Tenet Healthcare Corp. (a) | | $ | 50 | |
| | |
| | 174 | | | The Ensign Group, Inc. | | | 10 | |
| | |
| | 6,934 | | | Triple-S Management Corp., Class – A (a) | | | 165 | |
| | |
| | 1,828 | | | U.S. Physical Therapy, Inc. | | | 224 | |
| | | | | | | | |
| | | | | | | 1,677 | |
| | | | | | | | |
| |
| | | | Health Care Technology — 0.84% | |
| | |
| | 95 | | | HMS Holdings Corp. (a) | | | 3 | |
| | |
| | 2,294 | | | Inspire Medical System, Inc. (a) | | | 139 | |
| | |
| | 655 | | | Medidata Solutions, Inc. (a) | | | 59 | |
| | |
| | 157 | | | NextGen Healthcare, Inc. (a) | | | 3 | |
| | |
| | 3,154 | | | Omnicell, Inc. (a) | | | 271 | |
| | |
| | 4,876 | | | Teladoc, Inc. (a) | | | 325 | |
| | | | | | | | |
| | | | | | | 800 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 1.38% | |
| | |
| | 265 | | | Bloomin’ Brands, Inc. | | | 5 | |
| | |
| | 28,100 | | | Century Casinos, Inc. (a) | | | 273 | |
| | |
| | 767 | | | Denny’s Corp. (a) | | | 16 | |
| | |
| | 508 | | | DineEquity, Inc. | | | 48 | |
| | |
| | 4,561 | | | Eldorado Resorts, Inc. (a) | | | 210 | |
| | |
| | 54 | | | International Speedway Corp., Class – A | | | 2 | |
| | |
| | 3,094 | | | J. Alexander’s Holdings, Inc. (a) | | | 35 | |
| | |
| | 731 | | | Papa John’s International, Inc. | | | 33 | |
| | |
| | 2,846 | | | Planet Fitness, Inc., Class – A (a) | | | 206 | |
| | |
| | 5,468 | | | Potbelly Corp. (a) | | | 28 | |
| | |
| | 1,599 | | | RCI Hospitality Holdings, Inc. | | | 28 | |
| | |
| | 2,571 | | | Red Lion Hotels Corp. (a) | | | 18 | |
| | |
| | 3,298 | | | Target Hospitality Corp. | | | 30 | |
| | |
| | 1,129 | | | Twin River Worldwide Holdings, Inc. | | | 34 | |
| | |
| | 996 | | | Vail Resorts, Inc. | | | 222 | |
| | |
| | 1,426 | | | Wingstop, Inc. | | | 135 | |
| | | | | | | | |
| | | | | | | 1,323 | |
| | | | | | | | |
| |
| | | | Household Durables — 1.94% | |
| | |
| | 286 | | | Cavco Industries, Inc. (a) | | | 45 | |
| | |
| | 5,884 | | | Century Communities, Inc. (a) | | | 156 | |
| | |
| | 22,852 | | | Green Brick Partners, Inc. (a) | | | 190 | |
| | |
| | 2,521 | | | iRobot Corp. (a) | | | 231 | |
| | |
| | 856 | | | La-Z-Boy, Inc. | | | 26 | |
| | |
| | 5,430 | | | LGI Homes, Inc. (a) | | | 388 | |
| | |
| | 720 | | | MDC Holdings, Inc. | | | 24 | |
| | |
| | 1,111 | | | Meritage Homes Corp. (a) | | | 57 | |
| | |
| | 1,412 | | | Roku, Inc. (a) | | | 128 | |
| | |
| | 1,910 | | | Skyline Champion Corp. (a) | | | 52 | |
| | |
| | 3,213 | | | Sonos, Inc. (a) | | | 36 | |
| | |
| | 2,716 | | | Taylor Morrison Home Corp., Class – A (a) | | | 57 | |
| | |
| | 1,592 | | | TopBuild Corp. (a) | | | 132 | |
| | |
| | 3,928 | | | TRI Pointe Homes, Inc. (a) | | | 47 | |
| | |
| | 229 | | | Turtle Beach Corp.^ (a) | | | 3 | |
| | |
| | 6,856 | | | Universal Electronics, Inc. (a) | | | 281 | |
| | | | | | | | |
| | | | | | | 1,853 | |
| | | | | | | | |
| |
| | | | Household Products — 0.20% | |
| | |
| | 135 | | | Central Garden & Pet Co. (a) | | | 4 | |
| | |
| | 112 | | | Central Garden & Pet Co., Class – A (a) | | | 3 | |
| | |
| | 3,387 | | | Spectrum Brands Holdings, Inc. | | | 182 | |
| | | | | | | | |
| | | | | | | 189 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.10% | |
| | |
| | 220 | | | Clearway Energy, Inc., Class – C | | $ | 4 | |
| | |
| | 3,840 | | | Pattern Energy Group, Inc. | | | 88 | |
| | | | | | | | |
| | | | | | | 92 | |
| | | | | | | | |
| |
| | | | Insurance — 3.25% | |
| | |
| | 6,188 | | | American Equity Investment Life Holding Co. | | | 168 | |
| | |
| | 2,124 | | | American Financial Group, Inc. | | | 218 | |
| | |
| | 242 | | | AMERISAFE, Inc. | | | 15 | |
| | |
| | 4,273 | | | Argo Group International Holdings Ltd. | | | 316 | |
| | |
| | 4,844 | | | AXIS Capital Holdings Ltd. | | | 289 | |
| | |
| | 13,219 | | | CNO Financial Group, Inc. | | | 220 | |
| | |
| | 899 | | | Employers Holdings, Inc. | | | 38 | |
| | |
| | 1,301 | | | Everest Re Group Ltd. | | | 323 | |
| | |
| | 3,900 | | | First American Financial Corp. | | | 209 | |
| | |
| | 1,279 | | | Genworth Financial, Inc., Class – A (a) | | | 5 | |
| | |
| | 10,304 | | | Goosehead Insurance, Inc. | | | 493 | |
| | |
| | 328 | | | James River Group Holdings | | | 15 | |
| | |
| | 1,954 | | | Kemper Corp. | | | 169 | |
| | |
| | 655 | | | Kinsale Capital Group, Inc. | | | 60 | |
| | |
| | 262 | | | MBIA, Inc. (a) | | | 2 | |
| | |
| | 186 | | | Safety Insurance Group, Inc. | | | 18 | |
| | |
| | 999 | | | State Auto Financial Corp. | | | 35 | |
| | |
| | 6,016 | | | Trupanion, Inc.^ (a) | | | 217 | |
| | |
| | 83 | | | Universal Insurance Holdings, Inc. | | | 2 | |
| | |
| | 4,470 | | | W.R. Berkley Corp. | | | 295 | |
| | | | | | | | |
| | | | | | | 3,107 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 0.24% | |
| | |
| | 129 | | | Cars.com, Inc. (a) | | | 3 | |
| | |
| | 9,238 | | | QuinStreet, Inc. (a) | | | 146 | |
| | |
| | 22,715 | | | The Meet Group, Inc. (a) | | | 79 | |
| | | | | | | | |
| | | | | | | 228 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 0.56% | |
| | |
| | 185 | | | 1-800-FLOWERS.COM, Inc., Class – A (a) | | | 3 | |
| | |
| | 2,493 | | | Etsy, Inc. (a) | | | 153 | |
| | |
| | 11,058 | | | Gaia, Inc. (a) | | | 84 | |
| | |
| | 993 | | | Shutterfly, Inc. (a) | | | 50 | |
| | |
| | 872 | | | Shutterstock, Inc. | | | 34 | |
| | |
| | 6,576 | | | Stitch Fix, Inc., Class – A (a) | | | 211 | |
| | | | | | | | |
| | | | | | | 535 | |
| | | | | | | | |
| |
| | | | IT Services — 2.42% | |
| | |
| | 43,813 | | | Alithya Group, Inc. (a) | | | 115 | |
| | |
| | 1,899 | | | Alliance Data Systems Corp. | | | 266 | |
| | |
| | 62 | | | Booz Allen Hamilton Holding Corp. | | | 4 | |
| | |
| | 36,077 | | | Brightcove, Inc. (a) | | | 373 | |
| | |
| | 20 | | | CACI International, Inc., Class – A (a) | | | 4 | |
| | |
| | 1,374 | | | Cardtronics PLC (a) | | | 38 | |
| | |
| | 46 | | | Cass Information Systems, Inc. | | | 2 | |
| | |
| | 47 | | | CoreLogic, Inc. (a) | | | 2 | |
| | |
| | 95 | | | CSG Systems International, Inc. | | | 5 | |
| | |
| | 2,321 | | | Euronet Worldwide, Inc. (a) | | | 391 | |
| | |
| | 5,690 | | | EVERTEC, Inc. | | | 186 | |
| | |
| | 2,314 | | | Global Payments, Inc. | | | 371 | |
| | |
| | 1,480 | | | Jack Henry & Associates, Inc. | | | 198 | |
| | |
| | 1,433 | | | LiveRamp Holdings, Inc. (a) | | | 69 | |
| | |
| | 49 | | | ManTech International Corp., Class – A | | | 3 | |
See accompanying notes to financial statements.
90
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | IT Services (continued) | |
| | |
| | 11,798 | | | MoneyGram International, Inc. (a) | | $ | 29 | |
| | |
| | 88 | | | Perficient, Inc. (a) | | | 3 | |
| | |
| | 5,892 | | | PFSweb, Inc. (a) | | | 24 | |
| | |
| | 32 | | | Science Applications International Corp. | | | 3 | |
| | |
| | 61 | | | Sykes Enterprises, Inc. (a) | | | 2 | |
| | |
| | 135 | | | The Hackett Group, Inc. | | | 2 | |
| | |
| | 69 | | | TTEC Holdings, Inc. | | | 3 | |
| | |
| | 925 | | | Twilio, Inc., Class – A (a) | | | 126 | |
| | |
| | 5,341 | | | Verra Mobility Corp. (a) | | | 70 | |
| | |
| | 677 | | | Virtusa Corp. (a) | | | 30 | |
| | | | | | | | |
| | | | | | | 2,319 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.59% | |
| | |
| | 4,452 | | | Callaway Golf Co. | | | 76 | |
| | |
| | 77 | | | Johnson Outdoors, Inc., Class – A | | | 6 | |
| | |
| | 33,540 | | | Vista Outdoor, Inc. (a) | | | 298 | |
| | |
| | 6,222 | | | Yeti Holdings, Inc.^ (a) | | | 180 | |
| | | | | | | | |
| | | | | | | 560 | |
| | | | | | | | |
| |
| | | | Life Sciences Tools & Services — 1.02% | |
| | |
| | 13 | | | Bio-Rad Laboratories, Inc., Class – A (a) | | | 4 | |
| | |
| | 102 | | | Bruker Biosciences Corp. | | | 5 | |
| | |
| | 2,503 | | | Cambrex Corp. (a) | | | 117 | |
| | |
| | 14,747 | | | ENZO Biochem, Inc. (a) | | | 50 | |
| | |
| | 14,446 | | | Fluidigm Corp. (a) | | | 178 | |
| | |
| | 113 | | | Luminex Corp. | | | 2 | |
| | |
| | 11,500 | | | NeoGenomics, Inc. (a) | | | 252 | |
| | |
| | 58 | | | PRA Health Sciences, Inc. (a) | | | 6 | |
| | |
| | 6,895 | | | Qiagen N.V. (a) | | | 280 | |
| | |
| | 2,540 | | | Quanterix Corp. (a) | | | 86 | |
| | | | | | | | |
| | | | | | | 980 | |
| | | | | | | | |
| |
| | | | Machinery — 3.88% | |
| | |
| | 14,064 | | | Actuant Corp., Class – A | | | 349 | |
| | |
| | 48 | | | AGCO Corp. | | | 4 | |
| | |
| | 3,201 | | | Albany International Corp., Class – A | | | 265 | |
| | |
| | 1,656 | | | Chart Industries, Inc. (a) | | | 127 | |
| | |
| | 675 | | | Columbus McKinnon Corp. | | | 28 | |
| | |
| | 646 | | | ENPRO Industries, Inc. | | | 41 | |
| | |
| | 3,382 | | | Evoqua Water Technologies Co. (a) | | | 48 | |
| | |
| | 1,842 | | | Federal Signal Corp. | | | 49 | |
| | |
| | 3,723 | | | Freightcar America, Inc. (a) | | | 22 | |
| | |
| | 83 | | | Global Brass & Copper Holdings, Inc. | | | 4 | |
| | |
| | 2,225 | | | Harsco Corp. (a) | | | 61 | |
| | |
| | 1,375 | | | IDEX Corp. | | | 237 | |
| | |
| | 1,220 | | | ITT, Inc. | | | 80 | |
| | |
| | 368 | | | Kadant, Inc. | | | 33 | |
| | |
| | 16,767 | | | Kornit Digital Ltd. (a) | | | 531 | |
| | |
| | 2,320 | | | Lincoln Electric Holdings, Inc. | | | 191 | |
| | |
| | 4,207 | | | Manitex International, Inc. (a) | | | 26 | |
| | |
| | 19,199 | | | Meritor, Inc. (a) | | | 467 | |
| | |
| | 151 | | | Miller Industries, Inc. | | | 5 | |
| | |
| | 47 | | | Oshkosh Corp. | | | 4 | |
| | |
| | 650 | | | Proto Labs, Inc. (a) | | | 75 | |
| | |
| | 19,243 | | | REV Group, Inc. | | | 277 | |
| | |
| | 1,356 | | | SPX Corp. (a) | | | 45 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Machinery (continued) | |
| | |
| | 1,977 | | | SPX FLOW, Inc. (a) | | $ | 83 | |
| | |
| | 8,534 | | | Terex Corp. | | | 268 | |
| | |
| | 74 | | | The Greenbrier Companies, Inc. | | | 2 | |
| | |
| | 8,013 | | | TriMas Corp. (a) | | | 248 | |
| | |
| | 116 | | | Trinity Industries, Inc. | | | 2 | |
| | |
| | 150 | | | Wabash National Corp. | | | 2 | |
| | |
| | 940 | | | WABCO Holdings, Inc. (a) | | | 125 | |
| | |
| | 37 | | | Woodward, Inc. | | | 4 | |
| | | | | | | | |
| | | | | | | 3,703 | |
| | | | | | | | |
| |
| | | | Marine — 0.29% | |
| | |
| | 2,650 | | | Kirby Corp. (a) | | | 210 | |
| | |
| | 1,552 | | | Matson, Inc. | | | 60 | |
| | |
| | 8,963 | | | Safe Bulkers, Inc. (a) | | | 14 | |
| | | | | | | | |
| | | | | | | 284 | |
| | | | | | | | |
| |
| | | | Media — 0.75% | |
| | |
| | 10,764 | | | Cardlytics, Inc. (a) | | | 280 | |
| | |
| | 4,689 | | | cbdMD, Inc. | | | 28 | |
| | |
| | 1,658 | | | Entercom Communications Corp. | | | 10 | |
| | |
| | 11,574 | | | Fluent, Inc. (a) | | | 62 | |
| | |
| | 5,607 | | | Gray Television, Inc. (a) | | | 92 | |
| | |
| | 7,642 | | | Lee Enterprises, Inc. (a) | | | 17 | |
| | |
| | 1,269 | | | MDC Partners, Inc., Class – A (a) | | | 3 | |
| | |
| | 1,678 | | | Nexstar Broadcasting Group, Inc., Class – A | | | 169 | |
| | |
| | 8,565 | | | Wideopenwest, Inc. (a) | | | 62 | |
| | | | | | | | |
| | | | | | | 723 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 2.50% | |
| | |
| | 5,446 | | | Agnico-Eagle Mines Ltd. | | | 279 | |
| | |
| | 31,610 | | | Allegheny Technologies, Inc. (a) | | | 796 | |
| | |
| | 6,566 | | | Carpenter Technology Corp. | | | 315 | |
| | |
| | 151 | | | Commercial Metals Co. | | | 3 | |
| | |
| | 3,643 | | | Compass Minerals International, Inc. | | | 200 | |
| | |
| | 48,583 | | | Ferroglobe PLC | | | 83 | |
| | |
| | 20,775 | | | Hecla Mining Co. | | | 37 | |
| | |
| | 767 | | | Kaiser Aluminum Corp. | | | 75 | |
| | |
| | 1,544 | | | Materion Corp. | | | 105 | |
| | |
| | 2,063 | | | Olympic Steel, Inc. | | | 28 | |
| | |
| | 34,333 | | | Pan American Silver Corp. | | | 444 | |
| | |
| | 990 | | | Universal Stainless & Alloy Products, Inc. (a) | | | 16 | |
| | | | | | | | |
| | | | | | | 2,381 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.46% | |
| | |
| | 81 | | | Apollo Commercial Real Estate Finance, Inc. | | | 1 | |
| | |
| | 831 | | | Arbor Realty Trust, Inc. | | | 10 | |
| | |
| | 3,214 | | | Ellington Residential Mortgage REIT | | | 35 | |
| | |
| | 1,873 | | | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | | | 53 | |
| | |
| | 657 | | | Invesco Mortgage Capital, Inc. | | | 11 | |
| | |
| | 1,466 | | | KKR Real Estate Finance Trust, Inc. | | | 29 | |
| | |
| | 2,760 | | | Ladder Capital Corp. | | | 46 | |
| | |
| | 5,999 | | | New York Mortgage Trust, Inc. | | | 37 | |
| | |
| | 2,005 | | | Pennymac Mortgage Investment Trust | | | 44 | |
| | |
| | 8,825 | | | Redwood Trust, Inc. | | | 145 | |
| | |
| | 1,701 | | | TPG RE Finance Trust, Inc. | | | 33 | |
| | | | | | | | |
| | | | | | | 444 | |
| | | | | | | | |
See accompanying notes to financial statements.
91
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Multiline Retail — 0.07% | |
| | |
| | 1,289 | | | Big Lots, Inc. | | $ | 37 | |
| | |
| | 529 | | | Dillard’s, Inc., Class – A | | | 33 | |
| | | | | | | | |
| | | | | | | 70 | |
| | | | | | | | |
| |
| | | | Multi-Utilities — 0.05% | |
| | |
| | 77 | | | Avista Corp. | | | 3 | |
| | |
| | 674 | | | Unitil Corp. | | | 41 | |
| | | | | | | | |
| | | | | | | 44 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 2.85% | |
| | |
| | 6,413 | | | Callon Petroleum Co. (a) | | | 42 | |
| | |
| | 29,809 | | | Centennial Resource Development, Inc., Class – A (a) | | | 226 | |
| | |
| | 6,155 | | | CNX Resources Corp. (a) | | | 45 | |
| | |
| | 570 | | | Contura Energy, Inc. (a) | | | 30 | |
| | |
| | 267 | | | Delek US Holdings, Inc. | | | 11 | |
| | |
| | 20,899 | | | Energy Fuels, Inc. (a) | | | 65 | |
| | |
| | 27,945 | | | Euronav N.V. | | | 264 | |
| | |
| | 23,305 | | | GasLog Ltd. | | | 336 | |
| | |
| | 5,738 | | | Golar LNG Ltd. | | | 106 | |
| | |
| | 4,763 | | | Goodrich Petroleum Corp. (a) | | | 62 | |
| | |
| | 2,956 | | | Hallador Energy Co. | | | 17 | |
| | |
| | 6,720 | | | Matador Resources Co. (a) | | | 134 | |
| | |
| | 4,557 | | | Midstates Petroleum Co., Inc. (a) | | | 27 | |
| | |
| | 6,702 | | | Murphy Oil Corp. | | | 165 | |
| | |
| | 25,917 | | | Navigator Holdings Ltd. (a) | | | 242 | |
| | |
| | 11,425 | | | Noble Energy, Inc. | | | 256 | |
| | |
| | 8,152 | | | Oasis Petroleum, Inc. (a) | | | 46 | |
| | |
| | 14,435 | | | Overseas Shipholding Group, Inc. (a) | | | 27 | |
| | |
| | 5,827 | | | PDC Energy, Inc. (a) | | | 210 | |
| | |
| | 6,780 | | | QEP Resources, Inc. (a) | | | 49 | |
| | |
| | 111 | | | Scorpio Tankers, Inc. | | | 3 | |
| | |
| | 3,236 | | | Ship Finance International Ltd. | | | 40 | |
| | |
| | 11,240 | | | SM Energy Co. | | | 141 | |
| | |
| | 7,823 | | | SRC Energy, Inc. (a) | | | 39 | |
| | |
| | 1,030 | | | Talos Energy, Inc. (a) | | | 25 | |
| | |
| | 2,594 | | | Whiting Petroleum Corp. (a) | | | 48 | |
| | |
| | 1,899 | | | World Fuel Services Corp. | | | 68 | |
| | | | | | | | |
| | | | | | | 2,724 | |
| | | | | | | | |
| |
| | | | Paper & Forest Products — 0.05% | |
| | |
| | 498 | | | Boise Cascade Co. | | | 14 | |
| | |
| | 67 | | | Domtar Corp. | | | 3 | |
| | |
| | 81 | | | Schweitzer-Mauduit International, Inc. | | | 3 | |
| | |
| | 1,490 | | | Verso Corp. (a) | | | 28 | |
| | | | | | | | |
| | | | | | | 48 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.09% | |
| | |
| | 205 | | | e.l.f. Beauty, Inc. (a) | | | 3 | |
| | |
| | 2,449 | | | Lifevantage Corp. (a) | | | 32 | |
| | |
| | 331 | | | Medifast, Inc. | | | 42 | |
| | |
| | 16 | | | Nu Skin Enterprises, Inc., Class – A | | | 1 | |
| | |
| | 159 | | | Revlon, Inc., Class – A (a) | | | 3 | |
| | |
| | 32 | | | USANA Health Sciences, Inc. (a) | | | 3 | |
| | | | | | | | |
| | | | | | | 84 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 1.36% | |
| | |
| | 4,466 | | | Aerie Pharmaceuticals, Inc. (a) | | | 131 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Pharmaceuticals (continued) | |
| | |
| | 10,482 | | | Amneal Pharmaceuticals, Inc. (a) | | $ | 75 | |
| | |
| | 132 | | | Amphastar Pharmaceuticals, Inc. (a) | | | 3 | |
| | |
| | 759 | | | Aratana Therapeutics, Inc. (a) | | | 4 | |
| | |
| | 2,336 | | | Arvinas, Inc. (a) | | | 51 | |
| | |
| | 122 | | | Catalent, Inc. (a) | | | 7 | |
| | |
| | 15,800 | | | Cumberland Pharmaceuticals, Inc. (a) | | | 101 | |
| | |
| | 322 | | | Dova Pharmaceuticals, Inc. (a) | | | 5 | |
| | |
| | 7,697 | | | EyePoint Pharmaceuticals, Inc. | | | 13 | |
| | |
| | 4,007 | | | Horizon Therapeutics PLC (a) | | | 96 | |
| | |
| | 2,686 | | | Innoviva, Inc. (a) | | | 39 | |
| | |
| | 580 | | | Intra-Cellular Therapies, Inc. (a) | | | 8 | |
| | |
| | 5,647 | | | Menlo Therapeutics, Inc. (a) | | | 34 | |
| | |
| | 469 | | | Myokardia, Inc. (a) | | | 24 | |
| | |
| | 2,500 | | | Nektar Therapeutics (a) | | | 89 | |
| | |
| | 729 | | | Ocular Therapeutix, Inc. (a) | | | 3 | |
| | |
| | 200 | | | Omthera Pharmaceuticals, Inc. | | | — | |
| | |
| | 4,268 | | | Pacira Pharmaceuticals, Inc. (a) | | | 185 | |
| | |
| | 7,233 | | | Paratek Pharmaceuticals, Inc. (a) | | | 29 | |
| | |
| | 1,090 | | | Phibro Animal Health Corp., Class – A | | | 35 | |
| | |
| | 1,528 | | | Prestige Brands Holdings, Inc. (a) | | | 48 | |
| | |
| | 255 | | | Reata Pharmaceuticals, Inc., Class – A (a) | | | 24 | |
| | |
| | 5,676 | | | Strongbridge BioPharma PLC | | | 18 | |
| | |
| | 2,064 | | | The Medicines Co. (a) | | | 75 | |
| | |
| | 78,669 | | | TherapeuticsMD, Inc.^ (a) | | | 204 | |
| | |
| | 104 | | | Wave Life Sciences Ltd. (a) | | | 3 | |
| | | | | | | | |
| | | | | | | 1,304 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.62% | |
| | |
| | 9,644 | | | Acacia Research Corp. (a) | | | 29 | |
| | |
| | 1,823 | | | CBIZ, Inc. (a) | | | 36 | |
| | |
| | 37 | | | FTI Consulting, Inc. (a) | | | 3 | |
| | |
| | 815 | | | Huron Consulting Group, Inc. (a) | | | 41 | |
| | |
| | 578 | | | ICF International, Inc. | | | 42 | |
| | |
| | 8,481 | | | InnerWorkings, Inc. (a) | | | 32 | |
| | |
| | 312 | | | Kelly Services, Inc., Class – A | | | 8 | |
| | |
| | 982 | | | Kforce, Inc. | | | 34 | |
| | |
| | 3,811 | | | Navigant Consulting, Inc. | | | 88 | |
| | |
| | 3,091 | | | TriNet Group, Inc. (a) | | | 210 | |
| | |
| | 120 | | | TrueBlue, Inc. (a) | | | 3 | |
| | |
| | 66 | | | WageWorks, Inc. (a) | | | 3 | |
| | |
| | 1,821 | | | Willdan Group, Inc. (a) | | | 68 | |
| | | | | | | | |
| | | | | | | 597 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.31% | |
| | |
| | 1,172 | | | HFF, Inc., Class – A | | | 53 | |
| | |
| | 4,841 | | | Newmark Group, Inc., Class – A | | | 43 | |
| | |
| | 40 | | | Rafael Holdings, Inc., Class – B (a) | | | 1 | |
| | |
| | 7,170 | | | Realogy Holdings Corp. | | | 52 | |
| | |
| | 856 | | | Redfin Corp. (a) | | | 15 | |
| | |
| | 8,025 | | | Tejon Ranch Co. (a) | | | 134 | |
| | | | | | | | |
| | | | | | | 298 | |
| | | | | | | | |
| |
| | | | Road & Rail — 0.97% | |
| | |
| | 93 | | | ArcBest Corp. | | | 3 | |
| | |
| | 8,178 | | | Avis Budget Group, Inc. (a) | | | 288 | |
| | |
| | 2,401 | | | Hertz Global Holdings, Inc. (a) | | | 38 | |
| | |
| | 7,342 | | | Knight-Swift Transportation Holdings, Inc. | | | 241 | |
| | |
| | 103 | | | P.A.M. Transportation Services, Inc. (a) | | | 6 | |
See accompanying notes to financial statements.
92
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Road & Rail (continued) | |
| | |
| | 4,259 | | | Ryder System, Inc. | | $ | 248 | |
| | |
| | 1,217 | | | Saia, Inc. (a) | | | 79 | |
| | |
| | 7,233 | | | YRC Worldwide, Inc. (a) | | | 29 | |
| | | | | | | | |
| | | | | | | 932 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 5.36% | |
| | |
| | 7,612 | | | Adesto Technologies Corp. (a) | | | 62 | |
| | |
| | 1,752 | | | Advanced Energy Industries, Inc. (a) | | | 99 | |
| | |
| | 4,563 | | | Advanced Micro Devices, Inc. (a) | | | 139 | |
| | |
| | 1,937 | | | Ambarella, Inc. (a) | | | 85 | |
| | |
| | 7,266 | | | Amkor Technology, Inc. (a) | | | 54 | |
| | |
| | 4,056 | | | Brooks Automation, Inc. | | | 157 | |
| | |
| | 58 | | | Cirrus Logic, Inc. (a) | | | 3 | |
| | |
| | 5,422 | | | Cree, Inc. (a) | | | 305 | |
| | |
| | 1,243 | | | Cyberoptics Corp. (a) | | | 20 | |
| | |
| | 14,781 | | | Cypress Semiconductor Corp. | | | 329 | |
| | |
| | 109 | | | Diodes, Inc. (a) | | | 4 | |
| | |
| | 126 | | | Entegris, Inc. | | | 5 | |
| | |
| | 5,452 | | | FormFactor, Inc. (a) | | | 85 | |
| | |
| | 14,000 | | | GSI Technology, Inc. (a) | | | 120 | |
| | |
| | 5,396 | | | Inphi Corp. (a) | | | 270 | |
| | |
| | 9,310 | | | Lattice Semiconductor Corp. (a) | | | 136 | |
| | |
| | 14,232 | | | MA-COM Technology Solutions Holdings, Inc. (a) | | | 215 | |
| | |
| | 6,088 | | | Marvell Technology Group Ltd. | | | 145 | |
| | |
| | 2,523 | | | Maxim Integrated Products, Inc. | | | 151 | |
| | |
| | 1,870 | | | MKS Instruments, Inc. | | | 146 | |
| | |
| | 4,539 | | | Monolithic Power Systems, Inc. | | | 615 | |
| | |
| | 1,306 | | | Power Integrations, Inc. | | | 105 | |
| | |
| | 6,321 | | | Qorvo, Inc. (a) | | | 421 | |
| | |
| | 9,967 | | | Semtech Corp. (a) | | | 479 | |
| | |
| | 1,572 | | | Silicon Laboratories, Inc. (a) | | | 163 | |
| | |
| | 6,838 | | | SunPower Corp. (a) | | | 73 | |
| | |
| | 3,122 | | | Universal Display Corp. | | | 587 | |
| | |
| | 12,464 | | | Veeco Instruments, Inc. (a) | | | 152 | |
| | | | | | | | |
| | | | | | | 5,125 | |
| | | | | | | | |
| |
| | | | Software — 6.14% | |
| | |
| | 7,753 | | | 2U, Inc. (a) | | | 292 | |
| | |
| | 1,217 | | | 8x8, Inc. (a) | | | 29 | |
| | |
| | 1,748 | | | Alarm.com Holding, Inc. (a) | | | 94 | |
| | |
| | 1,959 | | | Alteryx, Inc. (a) | | | 214 | |
| | |
| | 4,648 | | | Asure Software, Inc. (a) | | | 38 | |
| | |
| | 49 | | | Avalara, Inc. (a) | | | 4 | |
| | |
| | 11,389 | | | Benefitfocus, Inc. (a) | | | 308 | |
| | |
| | 6,062 | | | Blackline, Inc. (a) | | | 323 | |
| | |
| | 1,718 | | | Coupa Software, Inc. (a) | | | 218 | |
| | |
| | 855 | | | Ebix, Inc. | | | 43 | |
| | |
| | 3,154 | | | Envestnet, Inc. (a) | | | 216 | |
| | |
| | 436 | | | Everbridge, Inc. (a) | | | 39 | |
| | |
| | 83 | | | Fair Isaac Corp. (a) | | | 26 | |
| | |
| | 2,534 | | | Five9, Inc. (a) | | | 130 | |
| | |
| | 386 | | | Forescout Technologies, Inc. (a) | | | 13 | |
| | |
| | 2,078 | | | Guidewire Software, Inc. (a) | | | 211 | |
| | |
| | 1,202 | | | HubSpot, Inc. (a) | | | 205 | |
| | |
| | 29 | | | J2 Global, Inc. | | | 3 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Software (continued) | |
| | |
| | 107 | | | LivePerson, Inc. (a) | | $ | 3 | |
| | |
| | 4,865 | | | Model N, Inc. (a) | | | 95 | |
| | |
| | 727 | | | New Relic, Inc. (a) | | | 63 | |
| | |
| | 20,476 | | | Nuance Communications, Inc. (a) | | | 326 | |
| | |
| | 1,909 | | | Nutanix, Inc., Class – A (a) | | | 50 | |
| | |
| | 2,950 | | | Paylocity Holding Corp. (a) | | | 277 | |
| | |
| | 1,141 | | | Progress Software Corp. | | | 50 | |
| | |
| | 1,749 | | | Proofpoint, Inc. (a) | | | 210 | |
| | |
| | 1,042 | | | PROS Holdings, Inc. (a) | | | 66 | |
| | |
| | 2,175 | | | PTC, Inc. (a) | | | 195 | |
| | |
| | 2,575 | | | Q2 Holdings, Inc. (a) | | | 197 | |
| | |
| | 32 | | | Qualys, Inc. (a) | | | 3 | |
| | |
| | 477 | | | Rapid7, Inc. (a) | | | 28 | |
| | |
| | 87,356 | | | RealNetworks, Inc. (a) | | | 166 | |
| | |
| | 612 | | | RingCentral, Inc., Class – A (a) | | | 70 | |
| | |
| | 2,117 | | | ShotSpotter, Inc. (a) | | | 94 | |
| | |
| | 28 | | | SPS Commerce, Inc. (a) | | | 3 | |
| | |
| | 2,946 | | | SS&C Technologies Holdings, Inc. | | | 170 | |
| | |
| | 1,703 | | | SVMK, Inc. (a) | | | 28 | |
| | |
| | 49,500 | | | Synacor, Inc. (a) | | | 77 | |
| | |
| | 8,923 | | | Telaria, Inc. (a) | | | 67 | |
| | |
| | 23,200 | | | Telenav, Inc. (a) | | | 186 | |
| | |
| | 623 | | | The Trade Desk, Inc. (a) | | | 142 | |
| | |
| | 40,520 | | | TiVo Corp. | | | 299 | |
| | |
| | 66 | | | Upland Software, Inc. (a) | | | 3 | |
| | |
| | 6,107 | | | Veritone, Inc. (a) | | | 51 | |
| | |
| | 60 | | | Workiva, Inc. (a) | | | 3 | |
| | |
| | 7,662 | | | Yext, Inc. (a) | | | 154 | |
| | |
| | 4,956 | | | Zscaler, Inc. (a) | | | 379 | |
| | | | | | | | |
| | | | | | | 5,861 | |
| | | | | | | | |
| |
| | | | Specialty Retail — 1.48% | |
| | |
| | 588 | | | Asbury Automotive Group, Inc. (a) | | | 50 | |
| | |
| | 7,691 | | | Barnes & Noble Education, Inc. (a) | | | 26 | |
| | |
| | 3,976 | | | Bed Bath & Beyond, Inc.^ | | | 46 | |
| | |
| | 8,570 | | | Boot Barn Holdings, Inc. (a) | | | 305 | |
| | |
| | 6,820 | | | Carvana Co. (a) | | | 427 | |
| | |
| | 1,890 | | | Citi Trends, Inc. | | | 28 | |
| | |
| | 2,248 | | | Designer Brands, Inc., Class – A | | | 43 | |
| | |
| | 10,513 | | | Express, Inc. (a) | | | 29 | |
| | |
| | 123 | | | Five Below, Inc. (a) | | | 15 | |
| | |
| | 1,957 | | | Floor & Decor Holdings, Inc., Class – A (a) | | | 82 | |
| | |
| | 72 | | | Group 1 Automotive, Inc. | | | 6 | |
| | |
| | 2,386 | | | Hudson Ltd., Class – A (a) | | | 33 | |
| | |
| | 4,042 | | | Michaels Companies, Inc. The (a) | | | 35 | |
| | |
| | 610 | | | Monro Muffler Brake, Inc. | | | 52 | |
| | |
| | 813 | | | National Vision Holdings, Inc. (a) | | | 25 | |
| | |
| | 21,053 | | | Office Depot, Inc. | | | 43 | |
| | |
| | 53 | | | Penske Automotive Group, Inc. | | | 3 | |
| | |
| | 405 | | | Sleep Number Corp. (a) | | | 16 | |
| | |
| | 98 | | | Sonic Automotive, Inc., Class – A | | | 2 | |
| | |
| | 7,426 | | | Sportsman’s Warehouse Holdings, Inc. (a) | | | 28 | |
| | |
| | 14,085 | | | Tailored Brands, Inc. | | | 81 | |
| | |
| | 462 | | | The Children’s Place Retail Stores, Inc. | | | 44 | |
| | |
| | 293 | | | Tilly’s, Inc., Class – A | | | 2 | |
| | | | | | | | |
| | | | | | | 1,421 | |
| | | | | | | | |
See accompanying notes to financial statements.
93
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Technology Hardware, Storage & Peripherals — 0.16% | |
| | |
| | 2,700 | | | Astronova, Inc. | | $ | 70 | |
| | |
| | 71 | | | Electronics for Imaging, Inc. (a) | | | 3 | |
| | |
| | 14,200 | | | GlassBridge Enterprises, Inc. (a) | | | 4 | |
| | |
| | 3,800 | | | Super Micro Computer, Inc. (a) | | | 73 | |
| | | | | | | | |
| | | | | | | 150 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 0.93% | |
| | |
| | 2,038 | | | Capri Holdings Ltd. (a) | | | 71 | |
| | |
| | 2,058 | | | Columbia Sportswear Co. | | | 205 | |
| | |
| | 855 | | | Deckers Outdoor Corp. (a) | | | 150 | |
| | |
| | 1,033 | | | Kontoor Brands, Inc. (a) | | | 29 | |
| | |
| | 13,805 | | | Lakeland Industries, Inc. (a) | | | 155 | |
| | |
| | 4,100 | | | Movado Group, Inc. | | | 111 | |
| | |
| | 6,374 | | | Wolverine World Wide, Inc. | | | 176 | |
| | | | | | | | |
| | | | | | | 897 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.69% | |
| | |
| | 1,657 | | | Axos Financial, Inc. (a) | | | 45 | |
| | |
| | 261 | | | ESSA Bancorp, Inc. | | | 4 | |
| | |
| | 55 | | | Federal Agricultural Mortgage Corp., Class – C | | | 4 | |
| | |
| | 88 | | | First Defiance Financial Corp. | | | 3 | |
| | |
| | 1,244 | | | Flagstar Bancorp, Inc. | | | 41 | |
| | |
| | 79 | | | HomeStreet, Inc. (a) | | | 2 | |
| | |
| | 3,110 | | | Kearny Financial Corp. of Maryland | | | 41 | |
| | |
| | 7 | | | LendingTree, Inc. (a) | | | 3 | |
| | |
| | 228 | | | MGIC Investment Corp. (a) | | | 3 | |
| | |
| | 4,468 | | | NMI Holdings, Inc. (a) | | | 127 | |
| | |
| | 1,743 | | | OceanFirst Financial Corp. | | | 43 | |
| | |
| | 3,080 | | | OP Bancorp | | | 33 | |
| | |
| | 1,418 | | | PennyMac Financial Services, Inc. | | | 31 | |
| | |
| | 209 | | | Prudential Bancorp, Inc. | | | 4 | |
| | |
| | 3,837 | | | Riverview BanCorp, Inc. | | | 33 | |
| | |
| | 263 | | | TrustCo Bank Corp NY | | | 2 | |
| | |
| | 880 | | | Walker & Dunlop, Inc. | | | 47 | |
| | |
| | 4,724 | | | WSFS Financial Corp. | | | 196 | |
| | | | | | | | |
| | | | | | | 662 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.36% | |
| | |
| | 1,847 | | | Pyxus International, Inc. (a) | | | 28 | |
| | |
| | 104 | | | Turning Point Brands, Inc. | | | 5 | |
| | |
| | 4,399 | | | Universal Corp. | | | 267 | |
| | |
| | 4,098 | | | Vector Group Ltd. | | | 40 | |
| | | | | | | | |
| | | | | | | 340 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 1.85% | |
| | |
| | 83 | | | Air Lease Corp. | | | 3 | |
| | |
| | 3,305 | | | Aircastle Ltd. | | | 70 | |
| | |
| | 7,304 | | | Beacon Roofing Supply, Inc. (a) | | | 268 | |
| | |
| | 10,855 | | | BMC Stock Holdings, Inc. (a) | | | 230 | |
| | |
| | 5,061 | | | DXP Enterprises, Inc. (a) | | | 192 | |
| | |
| | 83 | | | GATX Corp. | | | 7 | |
| | |
| | 412 | | | H&E Equipment Services, Inc. | | | 12 | |
| | |
| | 944 | | | Herc Holdings, Inc. (a) | | | 43 | |
| | |
| | 585 | | | Kaman Corp. | | | 37 | |
| | |
| | 11,059 | | | MRC Global, Inc. (a) | | | 189 | |
| | |
| | 3,321 | | | NOW, Inc. (a) | | | 49 | |
| | |
| | 1,140 | | | Rush Enterprises, Inc., Class – A | | | 42 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Trading Companies & Distributors (continued) | |
| | |
| | 3,195 | | | SiteOne Landscape Supply, Inc. (a) | | $ | 221 | |
| | |
| | 2,263 | | | Triton International Ltd. | | | 74 | |
| | |
| | 1,540 | | | Watsco, Inc. | | | 252 | |
| | |
| | 51 | | | WESCO International, Inc. (a) | | | 3 | |
| | |
| | 1,283 | | | Willis Lease Finance Corp. (a) | | | 75 | |
| | | | | | | | |
| | | | | | | 1,767 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.17% | |
| | |
| | 4,004 | | | Macquarie Infrastructure Corp. | | | 162 | |
| | | | | | | | |
| |
| | | | Water Utilities — 0.28% | |
| | |
| | 839 | | | American States Water Co. | | | 63 | |
| | |
| | 600 | | | California Water Service Group | | | 30 | |
| | |
| | 495 | | | Connecticut Water Service, Inc. | | | 35 | |
| | |
| | 2,136 | | | Consolidated Water Co. Ltd. | | | 30 | |
| | |
| | 1,063 | | | Global Water Resources, Inc. | | | 11 | |
| | |
| | 628 | | | Middlesex Water Co. | | | 37 | |
| | |
| | 1,064 | | | SJW Corp. | | | 65 | |
| | | | | | | | |
| | | | | | | 271 | |
| | | | | | | | |
| |
| | | | Wireless Telecommunication Services — 0.18% | |
| | |
| | 30,363 | | | Gogo, Inc.^ (a) | | | 120 | |
| | |
| | 1,364 | | | Shenandoah Telecommunications Co. | | | 53 | |
| | |
| | 64 | | | Spok Holdings, Inc. | | | 1 | |
| | | | | | | | |
| | | | | | | 174 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 89,829 | |
| | | | | | | | |
| |
| | | | Contingent Rights — 0.01% | |
| |
| | | | Biotechnology — 0.00% | |
| | |
| | 1 | | | Tobira Therapeutics, Inc. CVR (a) | | | — | |
| | | | | | | | |
| |
| | | | Chemicals — 0.00% | |
| | |
| | 97 | | | Schulman, Inc. CVR (a) | | | — | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.00% | |
| | |
| | 176,955 | | | Tahoe Resources, Inc. CVR (a) | | | — | |
| | | | | | | | |
| |
| | | | Road & Rail — 0.01% | |
| | |
| | 2,401 | | | Hertz Global Holdings, Inc. (a) | | | 5 | |
| | | | | | | | |
| | | | Total Contingent Rights | | | 5 | |
| | | | | | | | |
| |
| | | | Investment Companies — 5.26% | |
| | |
| | 58,100 | | | 180 Degree Capital Corp.^ | | | 113 | |
| | |
| | 8,000 | | | Capital Southwest Corp. | | | 168 | |
| | |
| | 457,363 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (b) | | | 457 | |
| | |
| | 119,948 | | | State Street Institutional Liquid Reserves Fund, Trust Class, 2.40% (b) | | | 120 | |
| | |
| | 4,178,556 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (b) | | | 4,179 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 5,037 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | Repurchase Agreement — 0.67% | |
| | |
| $ | 637 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $637,246 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $649,858)^^ | | | 637 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 637 | |
| | | | | | | | |
| | | | Total Investments (cost $70,980) — 99.89% | | | 95,508 | |
| | | | Other assets in excess of liabilities — 0.11% | | | 106 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 95,614 | |
| | | | | | | | |
See accompanying notes to financial statements.
94
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $1,015 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The SmallCapitalization-Mid
Capitalization Equity Portfolio | | Advisory
Research, Inc. | | | Ariel
Investments,
LLC | | | Frontier
Capital
Management
Company,
LLC | | | Parametric
Portfolio
Associates,
LLC | | | Pzena
Investment
Management,
LLC | | | HC Capital
Solutions | | | Total | |
Common Stocks | | | 14.66 | % | | | 4.51 | % | | | 39.26 | % | | | 27.79 | % | | | 7.73 | % | | | — | | | | 93.95 | % |
| | | | | | | |
Contingent Rights | | | — | | | | — | | | | — | | | | 0.01 | % | | | — | | | | — | | | | 0.01 | % |
| | | | | | | |
Investment Companies | | | 0.27 | % | | | 0.29 | % | | | 0.15 | % | | | 1.37 | % | | | — | | | | 3.18 | % | | | 5.26 | % |
| | | | | | | |
Repurchase Agreement | | | 0.20 | % | | | 0.01 | % | | | 0.21 | % | | | 0.25 | % | | | — | | | | — | | | | 0.67 | % |
| | | | | | | |
Other Assets (Liabilities) | | | -0.40 | % | | | 0.23 | % | | | 0.28 | % | | | -0.27 | % | | | 0.26 | % | | | 0.01 | % | | | 0.11 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 14.73 | % | | | 5.04 | % | | | 39.90 | % | | | 29.15 | % | | | 7.99 | % | | | 3.19 | % | | | 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 June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
Russell 2000 Mini Index Future | | 14 | | | 9/20/19 | | | $ | 1,097 | | | $ | 27 | |
| | | | | | | | | | | | | | |
| | | | | $ | 1,097 | | | $ | 27 | |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 27 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 27 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
95
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 92.25% | |
| |
| | | | Aerospace & Defense — 1.24% | |
| | |
| | 839 | | | AAR Corp. | | $ | 31 | |
| | |
| | 1,841 | | | Aerojet Rocketdyne Holdings, Inc. (a) | | | 82 | |
| | |
| | 536 | | | Aerovironment, Inc. (a) | | | 30 | |
| | |
| | 609 | | | Astronics Corp. (a) | | | 24 | |
| | |
| | 10,222 | | | Axon Enterprise, Inc. (a) | | | 656 | |
| | |
| | 788 | | | Cubic Corp. | | | 51 | |
| | |
| | 270 | | | Ducommun, Inc. (a) | | | 12 | |
| | |
| | 25,259 | | | Kratos Defense & Security Solutions, Inc. (a) | | | 578 | |
| | |
| | 1,502 | | | Maxar Technologies, Inc.^ | | | 12 | |
| | |
| | 1,346 | | | Mercury Systems, Inc. (a) | | | 95 | |
| | |
| | 807 | | | Moog, Inc., Class – A | | | 76 | |
| | |
| | 120 | | | National Presto Industries, Inc. | | | 11 | |
| | |
| | 452 | | | Parsons Corp. (a) | | | 17 | |
| | |
| | 1,249 | | | Triumph Group, Inc. | | | 29 | |
| | |
| | 289 | | | Vectrus, Inc. (a) | | | 12 | |
| | |
| | 9,485 | | | Wesco Aircraft Holdings, Inc. (a) | | | 105 | |
| | | | | | | | |
| | | | | | | 1,821 | |
| | | | | | | | |
| |
| | | | Air Freight & Logistics — 0.11% | |
| | |
| | 1,473 | | | Air Transport Services Group, Inc. (a) | | | 36 | |
| | |
| | 578 | | | Atlas Air Worldwide Holdings, Inc. (a) | | | 26 | |
| | |
| | 673 | | | Echo Global Logistics, Inc. (a) | | | 14 | |
| | |
| | 721 | | | Forward Air Corp. | | | 42 | |
| | |
| | 831 | | | Hub Group, Inc., Class – A (a) | | | 35 | |
| | |
| | 991 | | | Radiant Logistics, Inc. (a) | | | 6 | |
| | | | | | | | |
| | | | | | | 159 | |
| | | | | | | | |
| |
| | | | Airlines — 3.06% | |
| | |
| | 2,875 | | | Alaska Air Group, Inc. | | | 184 | |
| | |
| | 328 | | | Allegiant Travel Co. | | | 47 | |
| | |
| | 21,750 | | | American Airlines Group, Inc. | | | 709 | |
| | |
| | 18,438 | | | Azul SA, ADR (a) | | | 617 | |
| | |
| | 4,336 | | | Hawaiian Holdings, Inc. | | | 119 | |
| | |
| | 19,075 | | | JetBlue Airways Corp. (a) | | | 353 | |
| | |
| | 21,418 | | | Mesa Air Group, Inc. (a) | | | 196 | |
| | |
| | 1,263 | | | SkyWest, Inc. | | | 77 | |
| | |
| | 1,729 | | | Spirit Airlines, Inc. (a) | | | 83 | |
| | |
| | 17,087 | | | United Continental Holdings, Inc. (a) | | | 1,495 | |
| | |
| | 67,030 | | | Volaris Aviation Holding Co., ADR (a) | | | 629 | |
| | | | | | | | |
| | | | | | | 4,509 | |
| | | | | | | | |
| |
| | | | Auto Components — 1.59% | |
| | |
| | 2,171 | | | Adient PLC | | | 53 | |
| | |
| | 2,822 | | | American Axle & Manufacturing Holdings, Inc. (a) | | | 36 | |
| | |
| | 5,646 | | | BorgWarner, Inc. | | | 237 | |
| | |
| | 1,285 | | | Cooper Tire & Rubber Co. | | | 41 | |
| | |
| | 431 | | | Cooper-Standard Holding, Inc. (a) | | | 20 | |
| | |
| | 28,005 | | | Dana Holding Corp. | | | 557 | |
| | |
| | 679 | | | Dorman Products, Inc. (a) | | | 59 | |
| | |
| | 6,685 | | | Fox Factory Holding Corp. (a) | | | 552 | |
| | |
| | 12,608 | | | Garrett Motion, Inc. (a) | | | 194 | |
| | |
| | 854 | | | Gentherm, Inc. (a) | | | 36 | |
| | |
| | 616 | | | LCI Industries | | | 55 | |
| | |
| | 9,777 | | | Modine Manufacturing Co. (a) | | | 140 | |
| | |
| | 5,560 | | | Motorcar Parts of America, Inc. (a) | | | 119 | |
| | |
| | 531 | | | Standard Motor Products, Inc. | | | 24 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Auto Components (continued) | |
| | |
| | 4,781 | | | Stoneridge, Inc. (a) | | $ | 151 | |
| | |
| | 1,234 | | | Tenneco, Inc. | | | 14 | |
| | |
| | 502 | | | Tower International, Inc. | | | 10 | |
| | |
| | 696 | | | Visteon Corp. (a) | | | 41 | |
| | | | | | | | |
| | | | | | | 2,339 | |
| | | | | | | | |
| |
| | | | Automobiles — 0.02% | |
| | |
| | 784 | | | Winnebago Industries, Inc. | | | 30 | |
| | | | | | | | |
| |
| | | | Banks — 5.54% | |
| | |
| | 177 | | | 1st Constitution Bancorp | | | 3 | |
| | |
| | 386 | | | 1st Source, Inc. | | | 18 | |
| | |
| | 174 | | | ACNB Corp. | | | 7 | |
| | |
| | 483 | | | Allegiance Bancshares, Inc. (a) | | | 16 | |
| | |
| | 329 | | | Amalgamated Bank, Class – A | | | 6 | |
| | |
| | 468 | | | Amerant Bancorp, Inc. (a) | | | 9 | |
| | |
| | 273 | | | American National Bankshares, Inc. | | | 11 | |
| | |
| | 1,217 | | | Ameris BanCorp | | | 48 | |
| | |
| | 222 | | | Ames National Corp. | | | 6 | |
| | |
| | 316 | | | Arrow Financial Corp. | | | 11 | |
| | |
| | 13,224 | | | Associated Banc-Corp. | | | 280 | |
| | |
| | 656 | | | Atlantic Capital Bancshares, Inc. (a) | | | 11 | |
| | |
| | 2,045 | | | Atlantic Union Bankshares Corp. | | | 72 | |
| | |
| | 1,139 | | | Banc of California, Inc. | | | 16 | |
| | |
| | 469 | | | BancFirst Corp. | | | 26 | |
| | |
| | 1,264 | | | Bancorp, Inc. (a) | | | 11 | |
| | |
| | 2,413 | | | BancorpSouth Bank | | | 70 | |
| | |
| | 140 | | | Bank First Corp. | | | 10 | |
| | |
| | 432 | | | Bank of Commerce Holdings | | | 5 | |
| | |
| | 329 | | | Bank of Marin Bancorp | | | 13 | |
| | |
| | 1,384 | | | Bank of N.T. Butterfield & Son Ltd. (The) | | | 47 | |
| | |
| | 141 | | | Bank of Princeton (The) | | | 4 | |
| | |
| | 167 | | | Bankwell Financial Group, Inc. | | | 5 | |
| | |
| | 868 | | | Banner Corp. | | | 47 | |
| | |
| | 384 | | | Bar Harbor Bankshares, Inc. | | | 10 | |
| | |
| | 259 | | | Baycom Corp. (a) | | | 6 | |
| | |
| | 375 | | | BCB BanCorp, Inc. | | | 5 | |
| | |
| | 1,166 | | | Berkshire Hills BanCorp, Inc. | | | 37 | |
| | |
| | 2,091 | | | Boston Private Financial Holdings, Inc. | | | 25 | |
| | |
| | 410 | | | Bridge BanCorp, Inc. | | | 12 | |
| | |
| | 1,977 | | | Brookline BanCorp, Inc. | | | 30 | |
| | |
| | 492 | | | Bryn Mawr Bank Corp. | | | 18 | |
| | |
| | 314 | | | Business First Bancshares, Inc. | | | 8 | |
| | |
| | 580 | | | Byline BanCorp, Inc. (a) | | | 11 | |
| | |
| | 83 | | | C&F Financial Corp. | | | 5 | |
| | |
| | 3,160 | | | Cadence Bancorporation | | | 66 | |
| | |
| | 107 | | | Cambridge BanCorp | | | 9 | |
| | |
| | 379 | | | Camden National Corp. | | | 17 | |
| | |
| | 175 | | | Capital BanCorp, Inc. (a) | | | 2 | |
| | |
| | 338 | | | Capital City Bank Group, Inc. | | | 8 | |
| | |
| | 361 | | | Capstar Financial Holdings, Inc. | | | 5 | |
| | |
| | 527 | | | Carolina Financial Corp. | | | 18 | |
| | |
| | 548 | | | Carter Bank & Trust (a) | | | 11 | |
| | |
| | 1,947 | | | Cathay BanCorp, Inc. | | | 70 | |
| | |
| | 468 | | | CBTX, Inc. | | | 13 | |
| | |
| | 13,568 | | | Centerstate Bank Corp. | | | 312 | |
| | |
| | 690 | | | Central Pacific Financial Corp. | | | 21 | |
See accompanying notes to financial statements.
96
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Banks (continued) | |
| | |
| | 295 | | | Central Valley Community Bancorp | | $ | 6 | |
| | |
| | 73 | | | Century Bancorp, Inc., Class – A | | | 6 | |
| | |
| | 1,805 | | | Chemical Financial Corp. | | | 74 | |
| | |
| | 86 | | | Chemung Financial Corp. | | | 4 | |
| | |
| | 304 | | | Citizens & Northern Corp. | | | 8 | |
| | |
| | 405 | | | City Holding Co. | | | 31 | |
| | |
| | 376 | | | Civista Bancshares, Inc. | | | 8 | |
| | |
| | 375 | | | CNB Financial Corp. | | | 11 | |
| | |
| | 174 | | | Coastal Financial Corp. (a) | | | 3 | |
| | |
| | 214 | | | Codorus Valley BanCorp, Inc. | | | 5 | |
| | |
| | 180 | | | Colony Bankcorp | | | 3 | |
| | |
| | 1,853 | | | Columbia Banking System, Inc. | | | 67 | |
| | |
| | 1,281 | | | Community Bank System, Inc. | | | 84 | |
| | |
| | 540 | | | Community Bankers Trust Corp. | | | 5 | |
| | |
| | 121 | | | Community Financial Corp. (The) | | | 4 | |
| | |
| | 379 | | | Community Trust Bancorp, Inc. | | | 16 | |
| | |
| | 832 | | | ConnectOne Bancorp, Inc. | | | 19 | |
| | |
| | 701 | | | Customers BanCorp, Inc. (a) | | | 15 | |
| | |
| | 3,344 | | | CVB Financial Corp. | | | 70 | |
| | |
| | 84 | | | DNB Financial Corp. | | | 4 | |
| | |
| | 847 | | | Eagle BanCorp, Inc. | | | 46 | |
| | |
| | 214 | | | Enterprise BanCorp, Inc. | | | 7 | |
| | |
| | 4,689 | | | Enterprise Financial Services Corp. | | | 195 | |
| | |
| | 379 | | | Equity Bancshares, Inc. (a) | | | 10 | |
| | |
| | 144 | | | Esquire Financial Holdings, Inc. (a) | | | 4 | |
| | |
| | 108 | | | Evans BanCorp, Inc. | | | 4 | |
| | |
| | 252 | | | Farmers & Merchants Banco | | | 7 | |
| | |
| | 653 | | | Farmers National Banc Corp. | | | 10 | |
| | |
| | 428 | | | FB Financial Corp. | | | 16 | |
| | |
| | 68 | | | Fidelity D&D BanCorp, Inc. | | | 5 | |
| | |
| | 532 | | | Fidelity Southern Corp. | | | 16 | |
| | |
| | 407 | | | Financial Institutions, Inc. | | | 12 | |
| | |
| | 738 | | | First Bancorp | | | 27 | |
| | |
| | 37,013 | | | First BanCorp | | | 408 | |
| | |
| | 259 | | | First Bancorp, Inc. | | | 7 | |
| | |
| | 413 | | | First Bancshares, Inc. | | | 13 | |
| | |
| | 402 | | | First Bank/Hamilton | | | 5 | |
| | |
| | 1,301 | | | First Busey Corp. | | | 34 | |
| | |
| | 209 | | | First Business Financial Services, Inc. | | | 5 | |
| | |
| | 245 | | | First Choice BanCorp | | | 6 | |
| | |
| | 2,466 | | | First Commonwealth Financial Corp. | | | 33 | |
| | |
| | 371 | | | First Community Bancshares, Inc. | | | 13 | |
| | |
| | 2,456 | | | First Financial BanCorp | | | 59 | |
| | |
| | 3,280 | | | First Financial Bankshares, Inc. | | | 101 | |
| | |
| | 309 | | | First Financial Corp. | | | 12 | |
| | |
| | 248 | | | First Financial Northwest, Inc. | | | 4 | |
| | |
| | 983 | | | First Foundation, Inc. | | | 13 | |
| | |
| | 141 | | | First Guaranty Bancshares, Inc. | | | 3 | |
| | |
| | 13,799 | | | First Horizon National Corp. | | | 206 | |
| | |
| | 247 | | | First Internet BanCorp | | | 5 | |
| | |
| | 940 | | | First Interstate BancSystem, Inc., Class – A | | | 37 | |
| | |
| | 1,198 | | | First Merchants Corp. | | | 45 | |
| | |
| | 365 | | | FirstMid-Illinois Bancshares, Inc. | | | 13 | |
| | |
| | 12,141 | | | First Midwest Bancorp, Inc. | | | 249 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Banks (continued) | |
| | |
| | 227 | | | First Northwest BanCorp | | $ | 4 | |
| | |
| | 594 | | | First of Long Island Corp. (The) | | | 12 | |
| | |
| | 681 | | | Flushing Financial Corp. | | | 15 | |
| | |
| | 415 | | | FNCB Bancorp, Inc. | | | 3 | |
| | |
| | 339 | | | Franklin Financial Network, Inc. | | | 9 | |
| | |
| | 102 | | | Franklin Financial Services Corp. | | | 4 | |
| | |
| | 4,162 | | | Fulton Financial Corp. | | | 68 | |
| | |
| | 296 | | | FVCBankcorp, Inc. (a) | | | 6 | |
| | |
| | 585 | | | German American BanCorp, Inc. | | | 18 | |
| | |
| | 2,138 | | | Glacier BanCorp, Inc. | | | 87 | |
| | |
| | 279 | | | Great Southern Bancorp, Inc. | | | 17 | |
| | |
| | 1,443 | | | Great Western Bancorp, Inc. | | | 52 | |
| | |
| | 192 | | | Guaranty Bancshares, Inc. | | | 6 | |
| | |
| | 2,156 | | | Hancock Holding Co. | | | 86 | |
| | |
| | 763 | | | Hanmi Financial Corp. | | | 17 | |
| | |
| | 382 | | | Harborone BanCorp, Inc. (a) | | | 7 | |
| | |
| | 137 | | | Hawthorn Bancshares, Inc. | | | 4 | |
| | |
| | 823 | | | Heartland Financial USA, Inc. | | | 37 | |
| | |
| | 1,048 | | | Heritage Commerce Corp. | | | 13 | |
| | |
| | 924 | | | Heritage Financial Corp. | | | 27 | |
| | |
| | 1,826 | | | Hilltop Holdings, Inc. | | | 39 | |
| | |
| | 3,913 | | | Home Bancshares, Inc. | | | 75 | |
| | |
| | 449 | | | Hometrust Bancshares, Inc. | | | 11 | |
| | |
| | 20,146 | | | Hope Bancorp, Inc. | | | 278 | |
| | |
| | 940 | | | Horizon Bancorp, Inc. | | | 15 | |
| | |
| | 333 | | | Howard BanCorp, Inc. (a) | | | 5 | |
| | |
| | 4,042 | | | Iberiabank Corp. | | | 307 | |
| | |
| | 565 | | | Independent Bank Corp. | | | 12 | |
| | |
| | 837 | | | Independent Bank Corp. | | | 64 | |
| | |
| | 911 | | | Independent Bank Group, Inc. | | | 50 | |
| | |
| | 1,402 | | | International Bancshares Corp. | | | 53 | |
| | |
| | 242 | | | Investar Holding Corp. | | | 6 | |
| | |
| | 5,841 | | | Investors Bancorp, Inc. | | | 65 | |
| | |
| | 1,225 | | | Lakeland Bancorp, Inc. | | | 20 | |
| | |
| | 621 | | | Lakeland Financial Corp. | | | 29 | |
| | |
| | 311 | | | LCNB Corp. | | | 6 | |
| | |
| | 1,214 | | | LegacyTexas Financial Group, Inc. | | | 49 | |
| | |
| | 140 | | | Level One BanCorp, Inc. | | | 3 | |
| | |
| | 642 | | | Live Oak Bancshares, Inc. | | | 11 | |
| | |
| | 663 | | | Macatawa Bank Corp. | | | 7 | |
| | |
| | 224 | | | Mackinac Financial Corp. | | | 4 | |
| | |
| | 172 | | | MainStreet Bancshares, Inc. | | | 4 | |
| | |
| | 532 | | | MBT Financial Corp. | | | 5 | |
| | |
| | 393 | | | Mercantile Bank Corp. | | | 13 | |
| | |
| | 174 | | | Metropolitan Bank Holding Corp. (a) | | | 8 | |
| | |
| | 172 | | | Mid Penn BanCorp, Inc. | | | 4 | |
| | |
| | 546 | | | Midland States BanCorp, Inc. | | | 15 | |
| | |
| | 394 | | | MidSouth Bancorp, Inc. | | | 5 | |
| | |
| | 286 | | | MidWestOne Financial Group, Inc. | | | 8 | |
| | |
| | 146 | | | MutualFirst Financial, Inc. | | | 5 | |
| | |
| | 237 | | | MVB Financial Corp. | | | 4 | |
| | |
| | 742 | | | National Bank Holdings Corp., Class – A | | | 27 | |
| | |
| | 173 | | | National Bankshares, Inc. | | | 7 | |
| | |
| | 1,076 | | | NBT Bancorp, Inc. | | | 40 | |
| | |
| | 205 | | | Nicolet Bankshares, Inc. (a) | | | 13 | |
See accompanying notes to financial statements.
97
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Banks (continued) | |
| | |
| | 175 | | | Northeast Bank | | $ | 5 | |
| | |
| | 172 | | | Northrim BanCorp, Inc. | | | 6 | |
| | |
| | 134 | | | Norwood Financial Corp. | | | 5 | |
| | |
| | 166 | | | Oak Valley BanCorp | | | 3 | |
| | |
| | 1,268 | | | OFG Bancorp | | | 30 | |
| | |
| | 94 | | | Ohio Valley Banc Corp. | | | 4 | |
| | |
| | 376 | | | Old Line Bancshares, Inc. | | | 10 | |
| | |
| | 4,339 | | | Old National Bancorp | | | 72 | |
| | |
| | 749 | | | Old Second BanCorp, Inc. | | | 10 | |
| | |
| | 549 | | | Opus Bank | | | 12 | |
| | |
| | 485 | | | Origin BanCorp, Inc. | | | 16 | |
| | |
| | 257 | | | Orrstown Financial Services, Inc. | | | 6 | |
| | |
| | 316 | | | Pacific City Financial Corp. | | | 5 | |
| | |
| | 470 | | | Pacific Mercantile BanCorp (a) | | | 4 | |
| | |
| | 1,532 | | | Pacific Premier Bancorp, Inc. | | | 47 | |
| | |
| | 339 | | | Park National Corp. | | | 34 | |
| | |
| | 226 | | | Parke BanCorp, Inc. | | | 5 | |
| | |
| | 476 | | | Peapack-Gladstone Financial Corp. | | | 13 | |
| | |
| | 115 | | | Penns Woods BanCorp, Inc. | | | 5 | |
| | |
| | 141 | | | Peoples BanCorp | | | 4 | |
| | |
| | 453 | | | Peoples Bancorp, Inc. | | | 15 | |
| | |
| | 177 | | | Peoples Financial Services Corp. | | | 8 | |
| | |
| | 395 | | | People’s Utah BanCorp | | | 12 | |
| | |
| | 6,855 | | | Popular, Inc. | | | 372 | |
| | |
| | 353 | | | Preferred Bank | | | 17 | |
| | |
| | 299 | | | Premier Financial Bancorp, Inc. | | | 4 | |
| | |
| | 370 | | | QCR Holdings, Inc. | | | 13 | |
| | |
| | 408 | | | RBB BanCorp | | | 8 | |
| | |
| | 17 | | | Red River Bancshares, Inc. | | | 1 | |
| | |
| | 258 | | | Reliant BanCorp, Inc. | | | 6 | |
| | |
| | 1,428 | | | Renasant Co. | | | 51 | |
| | |
| | 244 | | | Republic Bancorp, Inc., Class – A | | | 12 | |
| | |
| | 1,197 | | | Republic First Bancorp, Inc. (a) | | | 6 | |
| | |
| | 868 | | | S & T BanCorp, Inc. | | | 33 | |
| | |
| | 885 | | | Sandy Spring BanCorp, Inc. | | | 31 | |
| | |
| | 205 | | | SB One BanCorp | | | 5 | |
| | |
| | 1,268 | | | Seacoast Banking Corporation of Florida (a) | | | 32 | |
| | |
| | 422 | | | Select BanCorp, Inc. (a) | | | 5 | |
| | |
| | 1,199 | | | ServisFirst Bancshares, Inc. | | | 41 | |
| | |
| | 317 | | | Shore Bancshares, Inc. | | | 5 | |
| | |
| | 378 | | | Sierra Bancorp | | | 10 | |
| | |
| | 2,289 | | | Simmons First National Corp. | | | 53 | |
| | |
| | 320 | | | Smartfinancial, Inc. (a) | | | 7 | |
| | |
| | 83 | | | South Plains Financial, Inc. (a) | | | 1 | |
| | |
| | 880 | | | South State Corp. | | | 65 | |
| | |
| | 191 | | | Southern First Bancshares (a) | | | 7 | |
| | |
| | 465 | | | Southern National BanCorp | | | 7 | |
| | |
| | 808 | | | Southside Bancshares, Inc. | | | 26 | |
| | |
| | 294 | | | Spirit of Texas Bancshares, Inc. (a) | | | 7 | |
| | |
| | 525 | | | Stock Yards BanCorp, Inc. | | | 19 | |
| | |
| | 278 | | | Summit Financial Group, Inc. | | | 7 | |
| | |
| | 5,652 | | | Synovus Financial Corp. | | | 198 | |
| | |
| | 7,532 | | | TCF Financial Corp. | | | 157 | |
| | |
| | 3,957 | | | Texas Capital Bancshares, Inc. (a) | | | 243 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Banks (continued) | |
| | |
| | 369 | | | Tompkins TrustCo, Inc. | | $ | 30 | |
| | |
| | 1,680 | | | TowneBank | | | 46 | |
| | |
| | 673 | | | TriCo Bancshares | | | 25 | |
| | |
| | 593 | | | Tristate Capital Holdings, Inc. (a) | | | 13 | |
| | |
| | 620 | | | Triumph Bancorp, Inc. (a) | | | 18 | |
| | |
| | 1,620 | | | Trustmark Corp. | | | 54 | |
| | |
| | 1,115 | | | UMB Financial Corp. | | | 73 | |
| | |
| | 89 | | | Union Bankshares, Inc. | | | 3 | |
| | |
| | 2,461 | | | United Bankshares, Inc. | | | 91 | |
| | |
| | 1,986 | | | United Community Banks, Inc. | | | 57 | |
| | |
| | 300 | | | United Security Bancshare | | | 3 | |
| | |
| | 197 | | | Unity BanCorp, Inc. | | | 4 | |
| | |
| | 710 | | | Univest Corp. | | | 19 | |
| | |
| | 8,181 | | | Valley National Bancorp | | | 88 | |
| | |
| | 1,318 | | | Veritex Holdings, Inc. | | | 34 | |
| | |
| | 372 | | | Washington Trust BanCorp, Inc. | | | 19 | |
| | |
| | 8,882 | | | Webster Financial Corp. | | | 424 | |
| | |
| | 1,331 | | | WesBanco, Inc. | | | 51 | |
| | |
| | 408 | | | West Bancorporation, Inc. | | | 9 | |
| | |
| | 657 | | | Westamerica Bancorp | | | 40 | |
| | | | | | | | |
| | | | | | | 8,184 | |
| | | | | | | | |
| |
| | | | Beverages — 0.12% | |
| | |
| | 524 | | | Celsius Holdings, Inc. (a) | | | 2 | |
| | |
| | 119 | | | Coca-Cola Bottling Co. Consolidated | | | 36 | |
| | |
| | 297 | | | Craft Brew Alliance, Inc. (a) | | | 4 | |
| | |
| | 322 | | | MGP Ingredients, Inc. | | | 21 | |
| | |
| | 293 | | | National Beverage Corp. | | | 13 | |
| | |
| | 1,752 | | | New Age Beverages Corp. | | | 8 | |
| | |
| | 872 | | | Primo Water Corp. (a) | | | 11 | |
| | |
| | 211 | | | The Boston Beer Co., Inc., Class – A (a) | | | 80 | |
| | | | | | | | |
| | | | | | | 175 | |
| | | | | | | | |
| |
| | | | Biotechnology — 3.57% | |
| | |
| | 868 | | | Abeona Therapeutics, Inc. (a) | | | 4 | |
| | |
| | 2,784 | | | Acadia Pharmaceuticals, Inc. (a) | | | 74 | |
| | |
| | 1,134 | | | Acceleron Pharma, Inc. (a) | | | 47 | |
| | |
| | 3,516 | | | Achillion Pharmaceuticals, Inc. (a) | | | 9 | |
| | |
| | 1,128 | | | Acorda Therapeutics, Inc. (a) | | | 9 | |
| | |
| | 590 | | | Adamas Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 679 | | | ADMA Biologics, Inc. (a) | | | 3 | |
| | |
| | 1,722 | | | Aduro Biotech, Inc. (a) | | | 3 | |
| | |
| | 1,403 | | | Adverum Biotechnologies, Inc. (a) | | | 17 | |
| | |
| | 652 | | | Aeglea BioTherapeutics, Inc. (a) | | | 4 | |
| | |
| | 1,458 | | | Affimed Therapeutics BV | | | 4 | |
| | |
| | 2,622 | | | Agenus, Inc. (a) | | | 8 | |
| | |
| | 525 | | | Agex Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 1,119 | | | Aimmune Therapeutics, Inc. (a) | | | 23 | |
| | |
| | 2,942 | | | Akebia Therapeutics, Inc. (a) | | | 14 | |
| | |
| | 260 | | | Albireo Pharma, Inc. (a) | | | 8 | |
| | |
| | 1,824 | | | Alder Biopharmaceuticals, Inc. (a) | | | 21 | |
| | |
| | 586 | | | Aldeyra Therapeutics, Inc. (a) | | | 4 | |
| | |
| | 244 | | | Alector, Inc. (a) | | | 5 | |
| | |
| | 435 | | | Allakos, Inc. (a) | | | 19 | |
| | |
| | 961 | | | Allogene Therapeutics, Inc. (a) | | | 26 | |
| | |
| | 886 | | | AMAG Pharmaceuticals, Inc. (a) | | | 9 | |
| | |
| | 5,794 | | | Amicus Therapeutics, Inc. (a) | | | 72 | |
See accompanying notes to financial statements.
98
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Biotechnology (continued) | |
| | |
| | 616 | | | Anaptysbio, Inc. (a) | | $ | 35 | |
| | |
| | 1,040 | | | Anavex Life Sciences Corp. | | | 4 | |
| | |
| | 1,205 | | | Apellis Pharmaceuticals, Inc. (a) | | | 31 | |
| | |
| | 746 | | | Arcus Biosciences, Inc. (a) | | | 6 | |
| | |
| | 1,079 | | | Ardelyx, Inc. (a) | | | 3 | |
| | |
| | 1,260 | | | Arena Pharmaceuticals, Inc. (a) | | | 74 | |
| | |
| | 2,660 | | | ArQule, Inc. (a) | | | 29 | |
| | |
| | 5,608 | | | Array BioPharma, Inc. (a) | | | 259 | |
| | |
| | 2,354 | | | Arrowhead Pharmaceuticals, Inc. (a) | | | 62 | |
| | |
| | 2,624 | | | Ascendis Pharma A/S, ADR (a) | | | 302 | |
| | |
| | 1,115 | | | Atara Biotherapeutics, Inc. (a) | | | 22 | |
| | |
| | 1,478 | | | Athenex, Inc. (a) | | | 29 | |
| | |
| | 3,034 | | | Athersys, Inc. (a) | | | 5 | |
| | |
| | 1,098 | | | Audentes Therapeutics, Inc. (a) | | | 42 | |
| | |
| | 1,443 | | | Avid Bioservices, Inc. (a) | | | 8 | |
| | |
| | 393 | | | Avrobio, Inc. (a) | | | 6 | |
| | |
| | 259 | | | Beyondspring, Inc. | | | 6 | |
| | |
| | 2,864 | | | BioCryst Pharmaceuticals, Inc. (a) | | | 11 | |
| | |
| | 837 | | | Biohaven Pharmaceutical Holding Co. Ltd. (a) | | | 37 | |
| | |
| | 149 | | | BioSpecifics Technologies Corp. (a) | | | 9 | |
| | |
| | 2,776 | | | BioTime, Inc. | | | 3 | |
| | |
| | 146 | | | Bioxcel Therapeutics, Inc. | | | 2 | |
| | |
| | 1,228 | | | Blueprint Medicines Corp. (a) | | | 116 | |
| | |
| | 916 | | | Calithera Biosciences, Inc. (a) | | | 4 | |
| | |
| | 231 | | | Calyxt, Inc. (a) | | | 3 | |
| | |
| | 857 | | | Cara Therapeutics, Inc. (a) | | | 18 | |
| | |
| | 1,030 | | | CareDx, Inc. (a) | | | 37 | |
| | |
| | 1,309 | | | CASI Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 2,308 | | | Catalyst Pharmaceuticals, Inc. (a) | | | 9 | |
| | |
| | 136 | | | Celcuity, Inc. (a) | | | 3 | |
| | |
| | 292 | | | Cellular Biomedicine Group, Inc. (a) | | | 5 | |
| | |
| | 638 | | | CEL-SCI Corp. | | | 5 | |
| | |
| | 558 | | | Checkpoint Therapeutics, Inc. | | | 2 | |
| | |
| | 1,011 | | | ChemoCentryx, Inc. (a) | | | 9 | |
| | |
| | 1,082 | | | Chimerix, Inc. (a) | | | 5 | |
| | |
| | 1,229 | | | Clovis Oncology, Inc. (a) | | | 18 | |
| | |
| | 1,550 | | | Coherus Biosciences, Inc. (a) | | | 34 | |
| | |
| | 574 | | | Concert Pharmaceuticals, Inc. (a) | | | 7 | |
| | |
| | 399 | | | Constellation Pharmaceuticals, Inc. (a) | | | 5 | |
| | |
| | 1,495 | | | Corbus Pharmaceuticals Holdings, Inc.^ (a) | | | 10 | |
| | |
| | 70 | | | Cortexyme, Inc. | | | 3 | |
| | |
| | 277 | | | Crinetics Pharmaceuticals, Inc. (a) | | | 7 | |
| | |
| | 443 | | | Cue BioPharma, Inc. (a) | | | 4 | |
| | |
| | 588 | | | Cyclerion Therapeutics, Inc. (a) | | | 7 | |
| | |
| | 1,371 | | | Cytokinetics, Inc. (a) | | | 15 | |
| | |
| | 1,134 | | | CytomX Therapeutics, Inc. (a) | | | 13 | |
| | |
| | 367 | | | Deciphera Pharmaceuticals, Inc. (a) | | | 8 | |
| | |
| | 1,207 | | | Denali Therapeutics, Inc. (a) | | | 25 | |
| | |
| | 1,318 | | | Dicerna Pharmaceuticals, Inc. (a) | | | 21 | |
| | |
| | 1,629 | | | Dynavax Technologies Corp. (a) | | | 6 | |
| | |
| | 257 | | | Eagle Pharmaceuticals, Inc. (a) | | | 14 | |
| | |
| | 1,247 | | | Editas Medicine, Inc. (a) | | | 31 | |
| | |
| | 425 | | | Eidos Therapeutics, Inc.^ (a) | | | 13 | |
| | |
| | 567 | | | Eiger Biopharmaceuticals, Inc. | | | 6 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Biotechnology (continued) | |
| | |
| | 1,150 | | | Emergent BioSolutions, Inc. (a) | | $ | 56 | |
| | |
| | 432 | | | Enanta Pharmaceuticals, Inc. (a) | | | 36 | |
| | |
| | 1,939 | | | Epizyme, Inc. (a) | | | 24 | |
| | |
| | 626 | | | Esperion Therapeutics, Inc. (a) | | | 29 | |
| | |
| | 373 | | | Evelo Biosciences, Inc. (a) | | | 3 | |
| | |
| | 1,484 | | | Fate Therapeutics, Inc. (a) | | | 30 | |
| | |
| | 1,954 | | | Fibrogen, Inc. (a) | | | 88 | |
| | |
| | 849 | | | Five Prime Therapeutics, Inc. (a) | | | 5 | |
| | |
| | 808 | | | Flexion Therapeutics, Inc. (a) | | | 10 | |
| | |
| | 371 | | | Forty Seven, Inc. (a) | | | 4 | |
| | |
| | 844 | | | G1 Therapeutics, Inc. (a) | | | 26 | |
| | |
| | 780 | | | Galectin Therapeutics, Inc. | | | 3 | |
| | |
| | 674 | | | Genomic Health, Inc. (a) | | | 39 | |
| | |
| | 4,547 | | | Geron Corp.^ (a) | | | 6 | |
| | |
| | 1,372 | | | Global Blood Therapeutics, Inc. (a) | | | 72 | |
| | |
| | 881 | | | GlycoMimetics Industries, Inc. (a) | | | 11 | |
| | |
| | 496 | | | Gossamer Bio, Inc. (a) | | | 11 | |
| | |
| | 611 | | | Gritstone Oncology, Inc. (a) | | | 7 | |
| | |
| | 3,590 | | | Halozyme Therapeutics, Inc. (a) | | | 62 | |
| | |
| | 146 | | | Harpoon Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 1,856 | | | Heron Therapeutics, Inc. (a) | | | 35 | |
| | |
| | 605 | | | Homology Medicines, Inc. (a) | | | 12 | |
| | |
| | 3,647 | | | ImmunoGen, Inc. (a) | | | 8 | |
| | |
| | 4,387 | | | Immunomedics, Inc. (a) | | | 61 | |
| | |
| | 2,310 | | | Inovio Pharmaceuticals, Inc. (a) | | | 7 | |
| | |
| | 1,954 | | | Insmed, Inc. (a) | | | 50 | |
| | |
| | 913 | | | Intellia Therapeutics, Inc. (a) | | | 15 | |
| | |
| | 622 | | | Intercept Pharmaceuticals, Inc. (a) | | | 49 | |
| | |
| | 1,765 | | | Intrexon Corp.^ (a) | | | 14 | |
| | |
| | 2,169 | | | Invitae Corp. (a) | | | 51 | |
| | |
| | 2,882 | | | Iovance Biotherapeutics, Inc. (a) | | | 71 | |
| | |
| | 3,864 | | | Ironwood Pharmaceuticals, Inc. (a) | | | 42 | |
| | |
| | 400 | | | Jounce Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 3,261 | | | Kadmon Holdings, Inc. (a) | | | 7 | |
| | |
| | 282 | | | Kalvista Pharmaceuticals, Inc. | | | 6 | |
| | |
| | 1,451 | | | Karyopharm Therapeutics, Inc. (a) | | | 9 | |
| | |
| | 331 | | | Kezar Life Sciences, Inc. (a) | | | 3 | |
| | |
| | 911 | | | Kindred Biosciences, Inc. (a) | | | 8 | |
| | |
| | 350 | | | Kiniksa Pharmaceuticals Ltd. (a) | | | 5 | |
| | |
| | 582 | | | Kodiak Sciences, Inc. (a) | | | 7 | |
| | |
| | 212 | | | Krystal Biotech, Inc. | | | 9 | |
| | |
| | 732 | | | Kura Oncology, Inc. (a) | | | 14 | |
| | |
| | 577 | | | La Jolla Pharmaceutical Co. (a) | | | 5 | |
| | |
| | 1,025 | | | Lexicon Pharmaceuticals, Inc. (a) | | | 6 | |
| | |
| | 517 | | | Ligand Pharmaceuticals, Inc., Class – B (a) | | | 59 | |
| | |
| | 223 | | | Logicbio Therapeutics, Inc. (a) | | | 3 | |
| | |
| | 1,192 | | | MacroGenics, Inc. (a) | | | 20 | |
| | |
| | 196 | | | Madrigal Pharmaceuticals, Inc. (a) | | | 21 | |
| | |
| | 486 | | | Magenta Therapeutics, Inc. (a) | | | 7 | |
| | |
| | 4,268 | | | MannKind Corp. (a) | | | 5 | |
| | |
| | 657 | | | Marker Therapeutics, Inc. | | | 5 | |
| | |
| | 1,036 | | | MediciNova, Inc. (a) | | | 10 | |
| | |
| | 1,650 | | | MEI Pharma, Inc. | | | 4 | |
| | |
| | 391 | | | Meiragtx Holdings PLC (a) | | | 11 | |
| | |
| | 883 | | | Mersana Therapeutics, Inc. (a) | | | 4 | |
See accompanying notes to financial statements.
99
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Biotechnology (continued) | |
| | |
| | 228 | | | Millendo Therapeutics, Inc. | | $ | 3 | |
| | |
| | 791 | | | Minerva Neurosciences, Inc. (a) | | | 4 | |
| | |
| | 3,517 | | | Mirati Therapeutics, Inc. (a) | | | 362 | |
| | |
| | 424 | | | Molecular Templates, Inc. (a) | | | 4 | |
| | |
| | 2,455 | | | Momenta Pharmaceuticals, Inc. (a) | | | 31 | |
| | |
| | 689 | | | Mustang Bio, Inc. (a) | | | 3 | |
| | |
| | 17,511 | | | Myriad Genetics, Inc. (a) | | | 485 | |
| | |
| | 1,388 | | | Natera, Inc. (a) | | | 38 | |
| | |
| | 344 | | | Neon Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 70 | | | NextCure, Inc. (a) | | | 1 | |
| | |
| | 513 | | | Novavax, Inc. (a) | | | 3 | |
| | |
| | 520 | | | Oncocyte Corp. | | | 1 | |
| | |
| | 14 | | | Oncternal Therapeutics, Inc. | | | — | |
| | |
| | 8,540 | | | OPKO Health, Inc. (a) | | | 21 | |
| | |
| | 255 | | | Organogenesis Holdings, Inc. | | | 2 | |
| | |
| | 4,837 | | | Palatin Technologies, Inc. (a) | | | 6 | |
| | |
| | 3,370 | | | PDL BioPharma, Inc. (a) | | | 11 | |
| | |
| | 778 | | | Pfenex, Inc. (a) | | | 5 | |
| | |
| | 332 | | | PhaseBio Pharmaceuticals, Inc. | | | 4 | |
| | |
| | 1,212 | | | Pieris Pharmaceuticals, Inc. (a) | | | 6 | |
| | |
| | 307 | | | PolarityTE, Inc. (a) | | | 2 | |
| | |
| | 1,680 | | | Portola Pharmaceuticals, Inc. (a) | | | 46 | |
| | |
| | 222 | | | Precision Biosciences, Inc. (a) | | | 3 | |
| | |
| | 331 | | | Principia BioPharma, Inc. (a) | | | 11 | |
| | |
| | 2,183 | | | Progenics Pharmaceuticals, Inc. (a) | | | 13 | |
| | |
| | 368 | | | Protagonist Therapeutics, Inc. | | | 4 | |
| | |
| | 964 | | | Prothena Corp. PLC (a) | | | 10 | |
| | |
| | 1,438 | | | PTC Therapeutics, Inc. (a) | | | 65 | |
| | |
| | 773 | | | Puma Biotechnology, Inc. (a) | | | 10 | |
| | |
| | 777 | | | Ra Pharmaceuticals, Inc. (a) | | | 23 | |
| | |
| | 1,131 | | | Radius Health, Inc. (a) | | | 28 | |
| | |
| | 453 | | | Recro Pharma, Inc. (a) | | | 5 | |
| | |
| | 840 | | | Regenxbio, Inc. (a) | | | 43 | |
| | |
| | 1,187 | | | Repligen Corp. (a) | | | 102 | |
| | |
| | 293 | | | Replimune Group, Inc. (a) | | | 4 | |
| | |
| | 1,044 | | | Retrophin, Inc. (a) | | | 21 | |
| | |
| | 573 | | | Rhythm Pharmaceuticals, Inc. (a) | | | 13 | |
| | |
| | 4,228 | | | Rigel Pharmaceuticals, Inc. (a) | | | 11 | |
| | |
| | 745 | | | Rocket Pharmaceuticals, Inc. (a) | | | 11 | |
| | |
| | 880 | | | Rubius Therapeutics, Inc. (a) | | | 14 | |
| | |
| | 9,445 | | | Sangamo BioSciences, Inc. (a) | | | 102 | |
| | |
| | 682 | | | Savara, Inc. (a) | | | 2 | |
| | |
| | 388 | | | Scholar Rock Holding Corp. (a) | | | 6 | |
| | |
| | 618 | | | Seres Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 329 | | | Solid Biosciences, Inc. (a) | | | 2 | |
| | |
| | 2,963 | | | Sorrento Therapeutics, Inc. (a) | | | 8 | |
| | |
| | 863 | | | Spark Therapeutics, Inc. (a) | | | 88 | |
| | |
| | 2,799 | | | Spectrum Pharmaceuticals, Inc. (a) | | | 24 | |
| | |
| | 255 | | | Spero Therapeutics, Inc. (a) | | | 3 | |
| | |
| | 1,008 | | | Stemline Therapeutics, Inc. (a) | | | 15 | |
| | |
| | 270 | | | Sutro BioPharma, Inc. (a) | | | 3 | |
| | |
| | 501 | | | Syndax Pharmaceuticals, Inc. (a) | | | 5 | |
| | |
| | 369 | | | Synlogic, Inc. (a) | | | 3 | |
| | |
| | 177 | | | Synthorx, Inc. (a) | | | 2 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Biotechnology (continued) | |
| | |
| | 864 | | | Syros Pharmaceuticals, Inc. (a) | | $ | 8 | |
| | |
| | 43 | | | TCR2 Therapeutics, Inc. (a) | | | 1 | |
| | |
| | 1,969 | | | TG Therapeutics, Inc. (a) | | | 17 | |
| | |
| | 530 | | | Tocagen, Inc. (a) | | | 4 | |
| | |
| | 755 | | | Translate Bio, Inc. (a) | | | 10 | |
| | |
| | 161 | | | Turning Point Therapeutics, Inc. | | | 7 | |
| | |
| | 520 | | | Twist Bioscience Corp. (a) | | | 15 | |
| | |
| | 2,816 | | | Tyme Technologies, Inc. (a) | | | 3 | |
| | |
| | 1,376 | | | Ultragenyx Pharmaceutical, Inc. (a) | | | 87 | |
| | |
| | 672 | | | UNITY Biotechnology, Inc. (a) | | | 6 | |
| | |
| | 454 | | | UroGen Pharma Ltd. (a) | | | 16 | |
| | |
| | 1,312 | | | Vanda Pharmaceuticals, Inc. (a) | | | 18 | |
| | |
| | 2,032 | | | VBI Vaccines, Inc. | | | 2 | |
| | |
| | 1,156 | | | Veracyte, Inc. (a) | | | 33 | |
| | |
| | 1,107 | | | Vericel Corp. (a) | | | 21 | |
| | |
| | 1,631 | | | Viking Therapeutics, Inc.^ (a) | | | 14 | |
| | |
| | 605 | | | Voyager Therapeutics, Inc. (a) | | | 16 | |
| | |
| | 170 | | | X4 Pharmaceuticals, Inc. (a) | | | 3 | |
| | |
| | 404 | | | XBiotech, Inc. (a) | | | 3 | |
| | |
| | 5,936 | | | Xencor, Inc. (a) | | | 243 | |
| | |
| | 500 | | | Y-mAbs Therapeutics, Inc. (a) | | | 11 | |
| | |
| | 4,015 | | | ZIOPHARM Oncology, Inc.^ (a) | | | 23 | |
| | | | | | | | |
| | | | | | | 5,267 | |
| | | | | | | | |
| |
| | | | Building Products — 1.39% | |
| | |
| | 1,035 | | | AAON, Inc. | | | 52 | |
| | |
| | 917 | | | Advanced Drainage Systems, Inc. | | | 30 | |
| | |
| | 381 | | | American Woodmark Corp. (a) | | | 32 | |
| | |
| | 653 | | | Apogee Enterprises, Inc. | | | 28 | |
| | |
| | 578 | | | Armstrong Flooring, Inc. (a) | | | 6 | |
| | |
| | 2,873 | | | Builders FirstSource, Inc. (a) | | | 48 | |
| | |
| | 547 | | | Caesarstone Ltd. | | | 8 | |
| | |
| | 907 | | | Continental Building Products, Inc. (a) | | | 24 | |
| | |
| | 1,154 | | | Cornerstone Building Brands, Inc. (a) | | | 7 | |
| | |
| | 375 | | | CSW Industrials, Inc. | | | 26 | |
| | |
| | 7,134 | | | Gibraltar Industries, Inc. (a) | | | 288 | |
| | |
| | 918 | | | Griffon Corp. | | | 16 | |
| | |
| | 464 | | | Insteel Industries, Inc. | | | 10 | |
| | |
| | 17,666 | | | Jeld-Wen Holding, Inc. (a) | | | 375 | |
| | |
| | 5,613 | | | Masonite International Corp. (a) | | | 296 | |
| | |
| | 564 | | | Patrick Industries, Inc. (a) | | | 28 | |
| | |
| | 1,404 | | | PGT, Inc. (a) | | | 23 | |
| | |
| | 806 | | | Quanex Building Products Corp. | | | 15 | |
| | |
| | 1,126 | | | Simpson Manufacturing Co., Inc. | | | 75 | |
| | |
| | 8,380 | | | Trex Company, Inc. (a) | | | 601 | |
| | |
| | 1,501 | | | Universal Forest Products, Inc. | | | 57 | |
| | | | | | | | |
| | | | | | | 2,045 | |
| | | | | | | | |
| |
| | | | Capital Markets — 1.45% | |
| | |
| | 1,587 | | | Ares Management Corp. | | | 42 | |
| | |
| | 906 | | | Arlington Asset Investment Corp. | | | 6 | |
| | |
| | 9,893 | | | Artisan Partners Asset Management, Inc., Class – A | | | 272 | |
| | |
| | 70 | | | Associated Capital Group, Inc., Class – A | | | 3 | |
| | |
| | 536 | | | B. Riley Financial, Inc. | | | 11 | |
| | |
| | 1,211 | | | Blucora, Inc. (a) | | | 37 | |
| | |
| | 1,965 | | | Brightsphere Investment Group | | | 22 | |
See accompanying notes to financial statements.
100
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Capital Markets (continued) | |
| | |
| | 574 | | | Cohen & Steers, Inc. | | $ | 30 | |
| | |
| | 724 | | | Cowen Group, Inc., Class – A (a) | | | 12 | |
| | |
| | 79 | | | Diamond Hill Investment Group | | | 11 | |
| | |
| | 875 | | | Donnelley Financial Solutions, Inc. (a) | | | 12 | |
| | |
| | 2,431 | | | Federated Investors, Inc., Class – B | | | 79 | |
| | |
| | 760 | | | Focus Financial Partners, Inc., Class – A (a) | | | 21 | |
| | |
| | 746 | | | Gain Capital Holdings, Inc. | | | 3 | |
| | |
| | 132 | | | GAMCO Investors, Inc., Class – A | | | 3 | |
| | |
| | 8,406 | | | Greenhill & Co., Inc. | | | 114 | |
| | |
| | 545 | | | Hamilton Lane, Inc. | | | 31 | |
| | |
| | 858 | | | Houlihan Lokey, Inc. | | | 38 | |
| | |
| | 401 | | | International Fcstone, Inc. (a) | | | 16 | |
| | |
| | 2,982 | | | Ladenburg Thalmann Financial Services, Inc. | | | 10 | |
| | |
| | 6,263 | | | LPL Financial Holdings, Inc. | | | 510 | |
| | |
| | 1,194 | | | Moelis & Co., Class – A | | | 42 | |
| | |
| | 408 | | | Och-Ziff Capital Management Group, Inc. | | | 9 | |
| | |
| | 246 | | | Oppenheimer Holdings, Inc., Class – A | | | 7 | |
| | |
| | 351 | | | Piper Jaffray Companies, Inc. | | | 26 | |
| | |
| | 582 | | | PJT Partners, Inc. | | | 24 | |
| | |
| | 400 | | | Pzena Investment Management, Inc. | | | 3 | |
| | |
| | 4,012 | | | Raymond James Financial, Inc. | | | 339 | |
| | |
| | 488 | | | Safeguard Scientifics, Inc. (a) | | | 6 | |
| | |
| | 154 | | | Siebert Financial Corp. (a) | | | 1 | |
| | |
| | 224 | | | Silvercrest Asset Management Group, Inc. | | | 3 | |
| | |
| | 1,735 | | | Stifel Financial Corp. | | | 102 | |
| | |
| | 56 | | | Value Line, Inc. | | | 2 | |
| | |
| | 12,569 | | | Victory Capital Holdings, Inc., Class – A (a) | | | 216 | |
| | |
| | 164 | | | Virtus Investment Partners, Inc. | | | 18 | |
| | |
| | 1,870 | | | Waddell & Reed Financial, Inc., Class – A | | | 31 | |
| | |
| | 194 | | | Westwood Holdings Group, Inc. | | | 7 | |
| | |
| | 3,342 | | | WisdomTree Investments, Inc. | | | 21 | |
| | | | | | | | |
| | | | | | | 2,140 | |
| | | | | | | | |
| |
| | | | Chemicals — 1.78% | |
| | |
| | 513 | | | Advanced Emissions Solutions, Inc. | | | 6 | |
| | |
| | 732 | | | Advansix, Inc. (a) | | | 18 | |
| | |
| | 2,955 | | | Albemarle Corp. | | | 208 | |
| | |
| | 774 | | | American Vanguard Corp. | | | 12 | |
| | |
| | 811 | | | Balchem Corp. | | | 81 | |
| | |
| | 185 | | | Chase Corp. | | | 20 | |
| | |
| | 2,036 | | | Ferro Corp. (a) | | | 32 | |
| | |
| | 1,281 | | | Flotek Industries, Inc. (a) | | | 4 | |
| | |
| | 8,400 | | | FMC Corp. | | | 696 | |
| | |
| | 649 | | | FutureFuel Corp. | | | 8 | |
| | |
| | 1,573 | | | GCP Applied Technologies (a) | | | 36 | |
| | |
| | 1,284 | | | H.B. Fuller Co. | | | 60 | |
| | |
| | 250 | | | Hawkins, Inc. | | | 11 | |
| | |
| | 1,061 | | | Ingevity Corp. (a) | | | 112 | |
| | |
| | 494 | | | Innophos Holdings, Inc. | | | 14 | |
| | |
| | 612 | | | Innospec, Inc. | | | 56 | |
| | |
| | 2,460 | | | Intrepid Potash, Inc. (a) | | | 8 | |
| | |
| | 484 | | | Koppers Holdings, Inc. (a) | | | 14 | |
| | |
| | 15,258 | | | Kraton Performance Polymers, Inc. (a) | | | 474 | |
| | |
| | 628 | | | Kronos Worldwide, Inc. | | | 10 | |
| | |
| | 3,653 | | | Livent Corp. (a) | | | 25 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Chemicals (continued) | |
| | |
| | 668 | | | LSB Industries, Inc. (a) | | $ | 3 | |
| | |
| | 1,223 | | | Marrone Bio Innovations, Inc. (a) | | | 2 | |
| | |
| | 888 | | | Minerals Technologies, Inc. | | | 48 | |
| | |
| | 1,100 | | | Omnova Solutions, Inc. (a) | | | 7 | |
| | |
| | 1,455 | | | Orion Engineered Carbons SA | | | 31 | |
| | |
| | 1,977 | | | PolyOne Corp. | | | 62 | |
| | |
| | 954 | | | PQ Group Holdings, Inc. (a) | | | 15 | |
| | |
| | 331 | | | Quaker Chemical Corp. | | | 67 | |
| | |
| | 1,191 | | | Rayonier Advanced Materials, Inc. | | | 8 | |
| | |
| | 1,069 | | | Sensient Technologies Corp. | | | 79 | |
| | |
| | 515 | | | Stepan Co. | | | 47 | |
| | |
| | 573 | | | Trecora Resources (a) | | | 5 | |
| | |
| | 685 | | | Tredegar Industries, Inc. | | | 11 | |
| | |
| | 1,057 | | | Trinseo SA | | | 45 | |
| | |
| | 22,730 | | | Tronox Holdings PLC, Class – A | | | 290 | |
| | |
| | 699 | | | Valhi, Inc. | | | 2 | |
| | | | | | | | |
| | | | | | | 2,627 | |
| | | | | | | | |
| |
| | | | Commercial Services & Supplies — 1.64% | |
| | |
| | 1,678 | | | ABM Industries, Inc. | | | 67 | |
| | |
| | 2,481 | | | ACCO Brands Corp. | | | 20 | |
| | |
| | 1,831 | | | Advanced Disposal Services, Inc. (a) | | | 58 | |
| | |
| | 14,522 | | | Aqua Metals, Inc.^ (a) | | | 24 | |
| | |
| | 10,561 | | | ARC Document Solutions, Inc. (a) | | | 22 | |
| | |
| | 1,205 | | | Brady Corp., Class – A | | | 59 | |
| | |
| | 785 | | | BrightView Holdings, Inc. (a) | | | 15 | |
| | |
| | 1,122 | | | Casella Waste Systems, Inc. (a) | | | 44 | |
| | |
| | 769 | | | CECO Environmental Corp. (a) | | | 7 | |
| | |
| | 202 | | | Charah Solutions, Inc. (a) | | | 1 | |
| | |
| | 553 | | | Cimpress NV (a) | | | 50 | |
| | |
| | 26 | | | CompX International, Inc. | | | — | |
| | |
| | 20,366 | | | Covanta Holding Corp. | | | 366 | |
| | |
| | 1,141 | | | Deluxe Corp. | | | 46 | |
| | |
| | 642 | | | Ennis, Inc. | | | 13 | |
| | |
| | 1,875 | | | Healthcare Services Group, Inc. | | | 57 | |
| | |
| | 378 | | | Heritage-Crystal Clean, Inc. (a) | | | 10 | |
| | |
| | 1,486 | | | Herman Miller, Inc. | | | 66 | |
| | |
| | 1,092 | | | HNI Corp. | | | 39 | |
| | |
| | 27,817 | | | Interface, Inc. | | | 427 | |
| | |
| | 899 | | | Kimball International, Inc., Class – B | | | 16 | |
| | |
| | 1,235 | | | Knoll, Inc. | | | 28 | |
| | |
| | 830 | | | LSC Communications, Inc. | | | 3 | |
| | |
| | 763 | | | Matthews International Corp., Class – A | | | 27 | |
| | |
| | 4,379 | | | McGrath RentCorp | | | 273 | |
| | |
| | 1,125 | | | Mobile Mini, Inc. | | | 34 | |
| | |
| | 889 | | | MSA Safety, Inc. | | | 94 | |
| | |
| | 357 | | | Multi-Color Corp. | | | 18 | |
| | |
| | 219 | | | NL Industries, Inc. (a) | | | 1 | |
| | |
| | 246 | | | NRC Group Holdings Corp. | | | 3 | |
| | |
| | 462 | | | PICO Holdings, Inc. (a) | | | 5 | |
| | |
| | 4,593 | | | Pitney Bowes, Inc. | | | 20 | |
| | |
| | 781 | | | Quad Graphics, Inc. | | | 6 | |
| | |
| | 1,974 | | | RR Donnelley & Sons Co. | | | 4 | |
| | |
| | 574 | | | SP Plus Corp. (a) | | | 18 | |
| | |
| | 7,204 | | | Steelcase, Inc., Class – A | | | 123 | |
| | |
| | 749 | | | Team, Inc. (a) | | | 11 | |
See accompanying notes to financial statements.
101
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Commercial Services & Supplies (continued) | |
| | |
| | 1,379 | | | Tetra Tech, Inc. | | $ | 108 | |
| | |
| | 1,260 | | | The Brink’s Co. | | | 102 | |
| | |
| | 382 | | | UniFirst Corp. | | | 72 | |
| | |
| | 556 | | | US Ecology, Inc. | | | 33 | |
| | |
| | 506 | | | Viad Corp. | | | 34 | |
| | |
| | 221 | | | VSE Corp. | | | 6 | |
| | | | | | | | |
| | | | | | | 2,430 | |
| | | | | | | | |
| |
| | | | Communications Equipment — 0.61% | |
| | |
| | 7,611 | | | Acacia Communications, Inc. (a) | | | 359 | |
| | |
| | 1,202 | | | ADTRAN, Inc. | | | 18 | |
| | |
| | 990 | | | Aerohive Networks, Inc. (a) | | | 4 | |
| | |
| | 522 | | | Applied Optoelectronics, Inc. (a) | | | 5 | |
| | |
| | 864 | | | CalAmp Corp. (a) | | | 10 | |
| | |
| | 1,148 | | | Calix, Inc. (a) | | | 8 | |
| | |
| | 728 | | | Casa Systems, Inc. (a) | | | 5 | |
| | |
| | 279 | | | Clearfield, Inc. (a) | | | 4 | |
| | |
| | 604 | | | Comtech Telecommunications Corp. | | | 17 | |
| | |
| | 117 | | | DASAN Zhone Solutions, Inc. (a) | | | 2 | |
| | |
| | 705 | | | Digi International, Inc. (a) | | | 9 | |
| | |
| | 2,944 | | | Extreme Networks, Inc. (a) | | | 19 | |
| | |
| | 2,988 | | | Finisar Corp. (a) | | | 68 | |
| | |
| | 2,194 | | | Harmonic, Inc. (a) | | | 12 | |
| | |
| | 4,395 | | | Infinera Corp. (a) | | | 13 | |
| | |
| | 1,079 | | | Inseego Corp. | | | 5 | |
| | |
| | 834 | | | InterDigital, Inc. | | | 54 | |
| | |
| | 469 | | | KVH Industries, Inc. (a) | | | 5 | |
| | |
| | 1,928 | | | Lumentum Holdings, Inc. (a) | | | 103 | |
| | |
| | 784 | | | NETGEAR, Inc. (a) | | | 20 | |
| | |
| | 1,884 | | | NetScout Systems, Inc. (a) | | | 48 | |
| | |
| | 842 | | | Plantronics, Inc. | | | 31 | |
| | |
| | 1,501 | | | Ribbon Communications, Inc. (a) | | | 7 | |
| | |
| | 150 | | | TESSCO Technologies, Inc. | | | 3 | |
| | |
| | 5,798 | | | Viavi Solutions, Inc. (a) | | | 77 | |
| | | | | | | | |
| | | | | | | 906 | |
| | | | | | | | |
| |
| | | | Construction & Engineering — 2.48% | |
| | |
| | 837 | | | Aegion Corp. (a) | | | 15 | |
| | |
| | 551 | | | Ameresco, Inc., Class – A (a) | | | 8 | |
| | |
| | 1,201 | | | Arcosa, Inc. | | | 45 | |
| | |
| | 370 | | | Argan, Inc. | | | 15 | |
| | |
| | 918 | | | Comfort Systems USA, Inc. | | | 47 | |
| | |
| | 269 | | | Concrete Pumping Holdings, Inc. | | | 1 | |
| | |
| | 291 | | | Construction Partners, Inc. (a) | | | 4 | |
| | |
| | 766 | | | Dycom Industries, Inc. (a) | | | 45 | |
| | |
| | 4,114 | | | EMCOR Group, Inc. | | | 362 | |
| | |
| | 5,546 | | | Granite Construction, Inc. | | | 267 | |
| | |
| | 1,532 | | | Great Lakes Dredge & Dock Co. (a) | | | 17 | |
| | |
| | 205 | | | IES Holdings, Inc. (a) | | | 4 | |
| | |
| | 43,490 | | | KBR, Inc. | | | 1,086 | |
| | |
| | 14,572 | | | MasTec, Inc. (a) | | | 751 | |
| | |
| | 405 | | | MYR Group, Inc. (a) | | | 15 | |
| | |
| | 241 | | | Northwest Pipe Co. (a) | | | 6 | |
| | |
| | 256 | | | NV5 Holdings, Inc. (a) | | | 21 | |
| | |
| | 1,114 | | | Primoris Services Corp. | | | 23 | |
| | |
| | 657 | | | Sterling Construction Co., Inc. (a) | | | 9 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Construction & Engineering (continued) | |
| | |
| | 64,306 | | | Tutor Perini Corp. (a) | | $ | 893 | |
| | |
| | 1,292 | | | Willscot Corp. (a) | | | 19 | |
| | | | | | | | |
| | | | | | | 3,653 | |
| | | | | | | | |
| |
| | | | Construction Materials — 0.43% | |
| | |
| | 1,965 | | | Eagle Materials, Inc., Class – A | | | 182 | |
| | |
| | 14,234 | | | Forterra, Inc. (a) | | | 71 | |
| | |
| | 1,292 | | | Martin Marietta Materials, Inc. | | | 296 | |
| | |
| | 2,837 | | | Summit Materials, Inc., Class – A (a) | | | 55 | |
| | |
| | 396 | | | U.S. Concrete, Inc. (a) | | | 20 | |
| | |
| | 58 | | | United States Lime & Minerals, Inc. | | | 5 | |
| | | | | | | | |
| | | | | | | 629 | |
| | | | | | | | |
| |
| | | | Consumer Finance — 0.60% | |
| | |
| | 434 | | | Curo Group Holdings Corp. (a) | | | 5 | |
| | |
| | 535 | | | Elevate Credit, Inc. (a) | | | 2 | |
| | |
| | 774 | | | Encore Capital Group, Inc. (a) | | | 26 | |
| | |
| | 830 | | | Enova International, Inc. (a) | | | 19 | |
| | |
| | 1,280 | | | EZCORP, Inc., Class – A (a) | | | 12 | |
| | |
| | 1,069 | | | FirstCash, Inc. | | | 107 | |
| | |
| | 7,971 | | | Green Dot Corp., Class – A (a) | | | 390 | |
| | |
| | 8,282 | | | LendingClub Corp. (a) | | | 27 | |
| | |
| | 500 | | | Medallion Financial Corp. | | | 3 | |
| | |
| | 459 | | | Nelnet, Inc., Class – A | | | 27 | |
| | |
| | 8,014 | | | PRA Group, Inc. (a) | | | 226 | |
| | |
| | 253 | | | Regional Management Corp. (a) | | | 7 | |
| | |
| | 167 | | | World Acceptance Corp. (a) | | | 27 | |
| | | | | | | | |
| | | | | | | 878 | |
| | | | | | | | |
| |
| | | | Containers & Packaging — 0.21% | |
| | |
| | 18,343 | | | Graphic Packaging Holding Co. | | | 257 | |
| | |
| | 145 | | | Greif, Inc. | | | 6 | |
| | |
| | 652 | | | Greif, Inc., Class – A | | | 21 | |
| | |
| | 893 | | | Myers Industries, Inc. | | | 17 | |
| | |
| | 169 | | | UFP Technologies, Inc. (a) | | | 7 | |
| | | | | | | | |
| | | | | | | 308 | |
| | | | | | | | |
| |
| | | | Distributors — 0.04% | |
| | |
| | 1,142 | | | Core-Mark Holding Co., Inc. | | | 46 | |
| | |
| | 424 | | | Funko, Inc. (a) | | | 10 | |
| | |
| | 150 | | | Greenlane Holdings, Inc., Class – A | | | 1 | |
| | |
| | 154 | | | Weyco Group, Inc. | | | 4 | |
| | | | | | | | |
| | | | | | | 61 | |
| | | | | | | | |
| |
| | | | Diversified Consumer Services — 2.48% | |
| | |
| | 1,421 | | | Adtalem Global Education, Inc. (a) | | | 64 | |
| | |
| | 422 | | | American Public Education, Inc. (a) | | | 12 | |
| | |
| | 27,686 | | | Career Education Corp. (a) | | | 528 | |
| | |
| | 421 | | | Carriage Services, Inc. | | | 8 | |
| | |
| | 24,153 | | | Chegg, Inc. (a) | | | 932 | |
| | |
| | 194 | | | Collectors Universe, Inc. | | | 4 | |
| | |
| | 17,638 | | | Frontdoor, Inc. (a) | | | 768 | |
| | |
| | 2,629 | | | Houghton Mifflin Harcourt Co. (a) | | | 15 | |
| | |
| | 5,222 | | | K12, Inc. (a) | | | 159 | |
| | |
| | 2,401 | | | Laureate Education, Inc., Class – A (a) | | | 38 | |
| | |
| | 1,100 | | | OneSpaWorld Holdings Ltd. (a) | | | 17 | |
| | |
| | 9,869 | | | Regis Corp. (a) | | | 164 | |
| | |
| | 518 | | | Select Interior Concepts, Inc., Class – A | | | 6 | |
| | |
| | 823 | | | Sotheby’s (a) | | | 48 | |
See accompanying notes to financial statements.
102
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Diversified Consumer Services (continued) | |
| | |
| | 4,891 | | | Strategic Education, Inc. | | $ | 871 | |
| | |
| | 1,171 | | | Weight Watchers International, Inc. (a) | | | 22 | |
| | | | | | | | |
| | | | | | | 3,656 | |
| | | | | | | | |
| |
| | | | Diversified Financial Services — 0.23% | |
| | |
| | 777 | | | Banco Latinoamericano de Comercio Exterior SA, Class – E | | | 16 | |
| | |
| | 1,708 | | | Cannae Holdings, Inc. (a) | | | 49 | |
| | |
| | 3,634 | | | FGL Holdings, Inc. | | | 31 | |
| | |
| | 11,872 | | | Jefferies Financial Group, Inc. | | | 229 | |
| | |
| | 213 | | | Marlin Business Services Corp. | | | 5 | |
| | |
| | 1,659 | | | On Deck Capital, Inc. (a) | | | 7 | |
| | | | | | | | |
| | | | | | | 337 | |
| | | | | | | | |
| |
| | | | Diversified Telecommunication Services — 0.76% | |
| | |
| | 278 | | | ATN International, Inc. | | | 16 | |
| | |
| | 392 | | | Bandwidth, Inc. (a) | | | 29 | |
| | |
| | 1,245 | | | Cincinnati Bell, Inc. (a) | | | 6 | |
| | |
| | 14,359 | | | Cogent Communications Group, Inc. | | | 851 | |
| | |
| | 1,679 | | | Consolidated Communications Holdings, Inc. | | | 8 | |
| | |
| | 2,821 | | | Frontier Communications Corp.^ (a) | | | 5 | |
| | |
| | 403 | | | IDT Corp. (a) | | | 4 | |
| | |
| | 1,679 | | | Intelsat SA (a) | | | 33 | |
| | |
| | 2,493 | | | Iridium Communications, Inc. (a) | | | 58 | |
| | |
| | 447 | | | Ooma, Inc. (a) | | | 5 | |
| | |
| | 1,904 | | | ORBCOMM, Inc. (a) | | | 14 | |
| | |
| | 2,602 | | | Pareteum Corp. | | | 7 | |
| | |
| | 245 | | | pdvWireless, Inc. (a) | | | 12 | |
| | |
| | 5,702 | | | Vonage Holdings Corp. (a) | | | 65 | |
| | | | | | | | |
| | | | | | | 1,113 | |
| | | | | | | | |
| |
| | | | Electric Utilities — 0.36% | |
| | |
| | 1,307 | | | ALLETE, Inc. | | | 109 | |
| | |
| | 1,023 | | | El Paso Electric Co. | | | 67 | |
| | |
| | 348 | | | Genie Energy Ltd. | | | 4 | |
| | |
| | 880 | | | MGE Energy, Inc. | | | 64 | |
| | |
| | 994 | | | Otter Tail Corp. | | | 52 | |
| | |
| | 2,005 | | | PNM Resources, Inc. | | | 102 | |
| | |
| | 2,264 | | | Portland General Electric Co. | | | 123 | |
| | |
| | 250 | | | Spark Energy, Inc., Class – A | | | 3 | |
| | | | | | | | |
| | | | | | | 524 | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.49% | |
| | |
| | 165 | | | Allied Motion Technologies, Inc. | | | 6 | |
| | |
| | 509 | | | American Superconductor Corp. | | | 5 | |
| | |
| | 1,159 | | | Atkore International Group, Inc. (a) | | | 30 | |
| | |
| | 654 | | | AZZ, Inc. | | | 30 | |
| | |
| | 1,335 | | | Bloom Energy Corp., Class – A (a) | | | 16 | |
| | |
| | 4,635 | | | Encore Wire Corp. | | | 271 | |
| | |
| | 606 | | | Energous Corp. (a) | | | 3 | |
| | |
| | 1,090 | | | EnerSys | | | 75 | |
| | |
| | 2,310 | | | Enphase Energy, Inc. (a) | | | 42 | |
| | |
| | 1,543 | | | Generac Holdings, Inc. (a) | | | 107 | |
| | |
| | 5,766 | | | Plug Power, Inc.^ (a) | | | 13 | |
| | |
| | 226 | | | Powell Industries, Inc. | | | 9 | |
| | |
| | 90 | | | Preformed Line Products Co. | | | 5 | |
| | |
| | 2,775 | | | Sunrun, Inc. (a) | | | 52 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Electrical Equipment (continued) | |
| | |
| | 819 | | | Thermon Group Holdings, Inc. (a) | | $ | 21 | |
| | |
| | 715 | | | TPI Composites, Inc. (a) | | | 18 | |
| | |
| | 448 | | | Vicor Corp. (a) | | | 14 | |
| | |
| | 1,096 | | | Vivint Solar, Inc. (a) | | | 8 | |
| | | | | | | | |
| | | | | | | 725 | |
| | | | | | | | |
| |
| | | | Electronic Equipment, Instruments & Components — 3.48% | |
| | |
| | 224 | | | Airgain, Inc. (a) | | | 3 | |
| | |
| | 609 | | | Akoustis Technologies, Inc. | | | 4 | |
| | |
| | 6,127 | | | Anixter International, Inc. (a) | | | 366 | |
| | |
| | 1,756 | | | Arlo Technologies, Inc. (a) | | | 7 | |
| | |
| | 1,166 | | | AVX Corp. | | | 19 | |
| | |
| | 723 | | | Badger Meter, Inc. | | | 43 | |
| | |
| | 250 | | | BEL Fuse, Inc., Class – B | | | 4 | |
| | |
| | 1,000 | | | Belden, Inc. | | | 60 | |
| | |
| | 1,074 | | | Benchmark Electronics, Inc. | | | 27 | |
| | |
| | 28,749 | | | Celestica, Inc. (a) | | | 196 | |
| | |
| | 112 | | | Coda Octopus Group, Inc. | | | 1 | |
| | |
| | 649 | | | Control4 Corp. (a) | | | 15 | |
| | |
| | 819 | | | CTS Corp. | | | 23 | |
| | |
| | 919 | | | Daktronics, Inc. | | | 6 | |
| | |
| | 337 | | | ePlus, Inc. (a) | | | 23 | |
| | |
| | 4,588 | | | Fabrinet (a) | | | 228 | |
| | |
| | 434 | | | FARO Technologies, Inc. (a) | | | 23 | |
| | |
| | 5,573 | | | Fitbit, Inc., Class – A (a) | | | 25 | |
| | |
| | 29,009 | | | Flextronics International Ltd. (a) | | | 277 | |
| | |
| | 1,585 | | | II-VI, Inc. (a) | | | 58 | |
| | |
| | 3,098 | | | Insight Enterprises, Inc. (a) | | | 180 | |
| | |
| | 707 | | | Iteris, Inc. (a) | | | 4 | |
| | |
| | 8,771 | | | Itron, Inc. (a) | | | 549 | |
| | |
| | 19,747 | | | Jabil Circuit, Inc. | | | 624 | |
| | |
| | 1,434 | | | KEMET Corp. | | | 27 | |
| | |
| | 661 | | | Kimball Electronics, Inc. (a) | | | 11 | |
| | |
| | 2,214 | | | Knowles Corp. (a) | | | 41 | |
| | |
| | 86 | | | Mesa Laboratories, Inc. | | | 21 | |
| | |
| | 920 | | | Methode Electronics, Inc. | | | 26 | |
| | |
| | 452 | | | MTS Systems Corp. | | | 26 | |
| | |
| | 313 | | | Napco Security Technologies (a) | | | 9 | |
| | |
| | 808 | | | nLight, Inc. (a) | | | 16 | |
| | |
| | 849 | | | Novanta, Inc. (a) | | | 80 | |
| | |
| | 2,409 | | | OSI Systems, Inc. (a) | | | 271 | |
| | |
| | 290 | | | Par Technology Corp. (a) | | | 8 | |
| | |
| | 493 | | | Park Electrochemical Corp. | | | 8 | |
| | |
| | 300 | | | PC Connection, Inc. | | | 10 | |
| | |
| | 229 | | | PCM, Inc. (a) | | | 8 | |
| | |
| | 756 | | | Plexus Corp. (a) | | | 44 | |
| | |
| | 7,110 | | | Rogers Corp. (a) | | | 1,228 | |
| | |
| | 1,707 | | | Sanmina Corp. (a) | | | 52 | |
| | |
| | 8,720 | | | ScanSource, Inc. (a) | | | 284 | |
| | |
| | 929 | | | Tech Data Corp. (a) | | | 97 | |
| | |
| | 2,491 | | | TTM Technologies, Inc. (a) | | | 25 | |
| | |
| | 3,345 | | | Vishay Intertechnology, Inc. | | | 55 | |
| | |
| | 267 | | | Vishay Precision Group, Inc. (a) | | | 11 | |
| | |
| | 184 | | | Wrap Technologies, Inc. (a) | | | 1 | |
| | | | | | | | |
| | | | | | | 5,124 | |
| | | | | | | | |
See accompanying notes to financial statements.
103
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Energy Equipment & Services — 1.21% | |
| | |
| | 3,246 | | | Archrock, Inc. Com | | $ | 34 | |
| | |
| | 20,136 | | | C&J Energy Services, Inc. (a) | | | 236 | |
| | |
| | 1,178 | | | Cactus, Inc., Class – A (a) | | | 39 | |
| | |
| | 858 | | | Covia Holdings Corp. (a) | | | 2 | |
| | |
| | 1,599 | | | Diamond Offshore Drilling, Inc. (a) | | | 14 | |
| | |
| | 3,118 | | | Dril-Quip, Inc. (a) | | | 150 | |
| | |
| | 14,869 | | | Ensco Rowan PLC, Class – A | | | 127 | |
| | |
| | 468 | | | Era Group, Inc. (a) | | | 4 | |
| | |
| | 856 | | | Exterran Corp. (a) | | | 12 | |
| | |
| | 2,081 | | | Forum Energy Technologies, Inc. (a) | | | 7 | |
| | |
| | 2,653 | | | Franks International N.V. (a) | | | 14 | |
| | |
| | 879 | | | FTS International, Inc. (a) | | | 5 | |
| | |
| | 321 | | | Geospace Technologies Corp. (a) | | | 5 | |
| | |
| | 3,574 | | | Helix Energy Solutions Group, Inc. (a) | | | 31 | |
| | |
| | 1,354 | | | Independence Contract Drilling, Inc. (a) | | | 2 | |
| | |
| | 1,335 | | | Keane Group, Inc. (a) | | | 9 | |
| | |
| | 523 | | | KLX Energy Services Holdings, Inc. (a) | | | 11 | |
| | |
| | 1,126 | | | Liberty Oilfield Services, Inc. | | | 18 | |
| | |
| | 338 | | | Mammoth Energy Services, Inc. | | | 2 | |
| | |
| | 669 | | | Matrix Service Co. (a) | | | 14 | |
| | |
| | 4,577 | | | McDermott International, Inc. (a) | | | 44 | |
| | |
| | 8,551 | | | Nabors Industries Ltd. | | | 25 | |
| | |
| | 574 | | | National Energy Services Reunited Corp. | | | 5 | |
| | |
| | 292 | | | Natural Gas Services Group, Inc. (a) | | | 5 | |
| | |
| | 293 | | | NCS Multistage Holdings, Inc. (a) | | | 1 | |
| | |
| | 2,187 | | | Newpark Resources, Inc. (a) | | | 16 | |
| | |
| | 399 | | | Nine Energy Service, Inc. (a) | | | 7 | |
| | |
| | 46,730 | | | Noble Corp. PLC (a) | | | 87 | |
| | |
| | 2,498 | | | Oceaneering International, Inc. (a) | | | 51 | |
| | |
| | 1,510 | | | Oil States International, Inc. (a) | | | 28 | |
| | |
| | 723 | | | Pacific Drilling SA | | | 9 | |
| | |
| | 226 | | | Parker Drilling Co. | | | 5 | |
| | |
| | 2,006 | | | ProPetro Holding Corp. (a) | | | 42 | |
| | |
| | 397 | | | RigNet, Inc. (a) | | | 4 | |
| | |
| | 1,406 | | | RPC, Inc. | | | 10 | |
| | |
| | 438 | | | SEACOR Holdings, Inc. (a) | | | 21 | |
| | |
| | 482 | | | SEACOR Marine Holdings, Inc. (a) | | | 7 | |
| | |
| | 1,420 | | | Seadrill Ltd. | | | 6 | |
| | |
| | 1,480 | | | Select Energy Services, Inc. (a) | | | 17 | |
| | |
| | 666 | | | Smart Sand, Inc. (a) | | | 2 | |
| | |
| | 769 | | | Solaris Oilfield Infrastructure, Inc. | | | 12 | |
| | |
| | 3,612 | | | Superior Energy Services, Inc. (a) | | | 5 | |
| | |
| | 7,099 | | | TechnipFMC PLC | | | 185 | |
| | |
| | 3,249 | | | TETRA Technologies, Inc. (a) | | | 5 | |
| | |
| | 942 | | | Tidewater, Inc. (a) | | | 22 | |
| | |
| | 61,625 | | | Transocean Ltd. (a) | | | 395 | |
| | |
| | 1,338 | | | Unit Corp. (a) | | | 12 | |
| | |
| | 1,913 | | | US Silica Holdings, Inc. | | | 24 | |
| | |
| | 486 | | | US Well Services, Inc. | | | 2 | |
| | | | | | | | |
| | | | | | | 1,790 | |
| | | | | | | | |
| |
| | | | Entertainment — 0.26% | |
| | |
| | 1,278 | | | AMC Entertainment Holdings, Inc., Class – A | | | 12 | |
| | |
| | 812 | | | Eros International PLC (a) | | | 1 | |
| | |
| | 95,622 | | | Global Eagle Entertainment, Inc. (a) | | | 63 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Entertainment (continued) | |
| | |
| | 2,915 | | | Glu Mobile, Inc. (a) | | $ | 21 | |
| | |
| | 1,324 | | | IMAX Corp. (a) | | | 27 | |
| | |
| | 254 | | | Liberty Braves Group (a) | | | 7 | |
| | |
| | 907 | | | Liberty Braves Group (a) | | | 25 | |
| | |
| | 16,641 | | | Lions Gate Entertainment Corp., Class – B | | | 193 | |
| | |
| | 792 | | | Livexlive Media, Inc. (a) | | | 3 | |
| | |
| | 561 | | | Marcus Corp. | | | 18 | |
| | |
| | 425 | | | Reading International, Inc. (a) | | | 6 | |
| | |
| | 518 | | | Rosetta Stone, Inc. (a) | | | 12 | |
| | | | | | | | |
| | | | | | | 388 | |
| | | | | | | | |
| |
| | | | Equity Real Estate Investment Trusts — 2.68% | |
| | |
| | 2,053 | | | Acadia Realty Trust | | | 56 | |
| | |
| | 945 | | | Agree Realty Corp. | | | 61 | |
| | |
| | 1,729 | | | Alexander & Baldwin, Inc. | | | 40 | |
| | |
| | 53 | | | Alexander’s, Inc. | | | 20 | |
| | |
| | 1,173 | | | American Assets Trust, Inc. | | | 55 | |
| | |
| | 2,603 | | | American Finance Trust, Inc. | | | 28 | |
| | |
| | 1,310 | | | Armada Hoffler Properties, Inc. | | | 22 | |
| | |
| | 2,259 | | | Ashford Hospitality Trust | | | 7 | |
| | |
| | 521 | | | Bluerock Residential Growth REIT, Inc. | | | 6 | |
| | |
| | 773 | | | Braemar Hotels & Resorts, Inc. | | | 8 | |
| | |
| | 292 | | | BRT Apartments Corp. | | | 4 | |
| | |
| | 2,395 | | | CareTrust REIT, Inc. | | | 57 | |
| | |
| | 1,235 | | | Catchmark Timber Trust, Inc. | | | 13 | |
| | |
| | 4,578 | | | CBL & Associates Properties, Inc. | | | 5 | |
| | |
| | 2,155 | | | Cedar Realty Trust, Inc. | | | 6 | |
| | |
| | 1,156 | | | Chatham Lodging Trust | | | 22 | |
| | |
| | 1,505 | | | Chesapeake Lodging Trust | | | 43 | |
| | |
| | 98 | | | CIM Commercial Trust Corp. | | | 2 | |
| | |
| | 1,006 | | | City Office REIT, Inc. | | | 12 | |
| | |
| | 413 | | | Clipper Realty, Inc. | | | 5 | |
| | |
| | 452 | | | Community Healthcare Trust, Inc. | | | 18 | |
| | |
| | 3,003 | | | CoreCivic, Inc. | | | 62 | |
| | |
| | 324 | | | Corenergy Infrastructure Trust, Inc. | | | 13 | |
| | |
| | 1,002 | | | CorePoint Lodging, Inc. | | | 12 | |
| | |
| | 15,480 | | | Corporate Office Properties Trust | | | 408 | |
| | |
| | 13,165 | | | DiamondRock Hospitality Co. | | | 136 | |
| | |
| | 1,712 | | | Easterly Government Properties, Inc. | | | 31 | |
| | |
| | 914 | | | EastGroup Properties, Inc. | | | 106 | |
| | |
| | 756 | | | Farmland Partners, Inc. | | | 5 | |
| | |
| | 3,179 | | | First Industrial Realty Trust, Inc. | | | 117 | |
| | |
| | 1,726 | | | Four Corners Property Trust, Inc. | | | 47 | |
| | |
| | 2,616 | | | Franklin Street Properties Corp. | | | 19 | |
| | |
| | 1,280 | | | Front Yard Residential Corp. | | | 16 | |
| | |
| | 840 | | | Getty Realty Corp. | | | 26 | |
| | |
| | 753 | | | Gladstone Commercial Corp. | | | 16 | |
| | |
| | 410 | | | Gladstone Land Corp. | | | 5 | |
| | |
| | 768 | | | Global Medical REIT, Inc. | | | 8 | |
| | |
| | 2,120 | | | Global Net Lease, Inc. | | | 42 | |
| | |
| | 3,223 | | | Healthcare Realty Trust, Inc. | | | 101 | |
| | |
| | 873 | | | Hersha Hospitality Trust | | | 14 | |
| | |
| | 2,267 | | | Independence Realty Trust, Inc. | | | 26 | |
| | |
| | 1,633 | | | Industrial Logistics Property Trust | | | 34 | |
| | |
| | 237 | | | Innovative Industrial Properties, Inc.^ | | | 29 | |
| | |
| | 292 | | | Investors Real Estate Trust | | | 17 | |
See accompanying notes to financial statements.
104
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 1,576 | | | iStar, Inc. | | $ | 20 | |
| | |
| | 525 | | | Jernigan Capital, Inc. | | | 11 | |
| | |
| | 2,088 | | | Kite Realty Group Trust | | | 32 | |
| | |
| | 5,760 | | | Lexington Realty Trust | | | 54 | |
| | |
| | 992 | | | LTC Properties, Inc. | | | 45 | |
| | |
| | 2,286 | | | Mack-Cali Realty Corp. | | | 53 | |
| | |
| | 2,295 | | | Monmouth Real Estate Investment Corp., Class – A | | | 31 | |
| | |
| | 1,054 | | | National Health Investors, Inc. | | | 82 | |
| | |
| | 1,434 | | | National Storage Affiliates | | | 41 | |
| | |
| | 2,077 | | | New Senior Investment Group, Inc. | | | 14 | |
| | |
| | 461 | | | Nexpoint Residential Trust, Inc. | | | 19 | |
| | |
| | 1,103 | | | NorthStar Realty Europe Corp. | | | 18 | |
| | |
| | 1,203 | | | Office Properties Income Trust | | | 32 | |
| | |
| | 387 | | | One Liberty Properties, Inc. | | | 11 | |
| | |
| | 3,279 | | | Pebblebrook Hotel Trust | | | 92 | |
| | |
| | 1,747 | | | Pennsylvania Real Estate Investment Trust^ | | | 11 | |
| | |
| | 4,678 | | | Physicians Realty Trust | | | 82 | |
| | |
| | 3,158 | | | Piedmont Office Realty Trust, Inc., Class – A | | | 63 | |
| | |
| | 1,668 | | | Potlatch Corp. | | | 65 | |
| | |
| | 1,089 | | | Preferred Apartment Communities, Inc., Class – A | | | 16 | |
| | |
| | 505 | | | PS Business Parks, Inc. | | | 85 | |
| | |
| | 1,376 | | | QTS Realty Trust, Inc., Class – L | | | 64 | |
| | |
| | 2,840 | | | Retail Opportunity Investments Corp. | | | 49 | |
| | |
| | 361 | | | Retail Value, Inc. | | | 13 | |
| | |
| | 2,607 | | | Rexford Industrial Realty, Inc. | | | 105 | |
| | |
| | 4,342 | | | RLJ Lodging Trust | | | 77 | |
| | |
| | 1,938 | | | RPT Realty | | | 23 | |
| | |
| | 1,156 | | | Ryman Hospitality Properties, Inc. | | | 94 | |
| | |
| | 4,510 | | | Sabra Healthcare REIT, Inc. | | | 89 | |
| | |
| | 216 | | | Safehold, Inc. | | | 7 | |
| | |
| | 299 | | | Saul Centers, Inc. | | | 17 | |
| | |
| | 5,850 | | | Senior Housing Properties Trust | | | 48 | |
| | |
| | 824 | | | Seritage Growth Properties | | | 35 | |
| | |
| | 1,130 | | | Spirit MTA REIT | | | 9 | |
| | |
| | 3,161 | | | STAG Industrial, Inc. | | | 96 | |
| | |
| | 2,609 | | | Summit Hotel Properties, Inc. | | | 30 | |
| | |
| | 5,754 | | | Sunstone Hotel Investors, Inc. | | | 79 | |
| | |
| | 2,304 | | | Tanger Factory Outlet Centers, Inc. | | | 37 | |
| | |
| | 1,564 | | | Terreno Realty Corp. | | | 77 | |
| | |
| | 3,001 | | | The Geo Group, Inc. | | | 63 | |
| | |
| | 876 | | | UMH Properties, Inc. | | | 11 | |
| | |
| | 4,566 | | | Uniti Group, Inc. | | | 43 | |
| | |
| | 320 | | | Universal Health Realty Income Trust | | | 27 | |
| | |
| | 2,897 | | | Urban Edge Properties | | | 50 | |
| | |
| | 745 | | | Urstadt Biddle Properties, Inc., Class – A | | | 16 | |
| | |
| | 4,708 | | | Washington Prime Group, Inc. | | | 18 | |
| | |
| | 2,022 | | | Washington Real Estate Investment Trust | | | 54 | |
| | |
| | 921 | | | Whitestone REIT | | | 12 | |
| | |
| | 2,857 | | | Xenia Hotels & Resorts, Inc. | | | 60 | |
| | | | | | | | |
| | | | | | | 3,960 | |
| | | | | | | | |
| |
| | | | Food & Staples Retailing — 0.48% | |
| | |
| | 3,000 | | | BJ’s Wholesale Club Holdings, Inc., Class – C (a) | | | 79 | |
| | |
| | 11,652 | | | Chefs’ Warehouse Holdings LLC (a) | | | 410 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Food & Staples Retailing (continued) | |
| | |
| | 182 | | | HF Foods Group, Inc. | | $ | 6 | |
| | |
| | 364 | | | Ingles Markets, Inc., Class – A | | | 11 | |
| | |
| | 278 | | | Natural Grocers by Vitamin Cottage, Inc. (a) | | | 3 | |
| | |
| | 2,594 | | | Performance Food Group Co. (a) | | | 104 | |
| | |
| | 566 | | | PriceSmart, Inc. | | | 29 | |
| | |
| | 1,381 | | | Rite Aid Corp.^ (a) | | | 11 | |
| | |
| | 928 | | | SpartanNash Co. | | | 11 | |
| | |
| | 789 | | | The Andersons, Inc. | | | 21 | |
| | |
| | 1,232 | | | United Natural Foods, Inc. (a) | | | 11 | |
| | |
| | 207 | | | Village Super Market, Inc., Class – A | | | 5 | |
| | |
| | 230 | | | Weis Markets, Inc. | | | 8 | |
| | | | | | | | |
| | | | | | | 709 | |
| | | | | | | | |
| |
| | | | Food Products — 0.55% | |
| | |
| | 101 | | | Alico, Inc. | | $ | 3 | |
| | |
| | 1,622 | | | B&G Foods, Inc., Class – A^ | | | 34 | |
| | |
| | 42 | | | Bridgford Foods Corp. | | | 1 | |
| | |
| | 409 | | | Calavo Growers, Inc. | | | 40 | |
| | |
| | 794 | | | Cal-Maine Foods, Inc. | | | 33 | |
| | |
| | 15,816 | | | Darling Ingredients, Inc. (a) | | | 316 | |
| | |
| | 2,466 | | | Dean Foods Co. | | | 2 | |
| | |
| | 250 | | | Farmer Brothers Co. (a) | | | 4 | |
| | |
| | 782 | | | Fresh Del Monte Produce, Inc. | | | 21 | |
| | |
| | 778 | | | Freshpet, Inc. (a) | | | 35 | |
| | |
| | 2,525 | | | Hostess Brands, Inc. (a) | | | 36 | |
| | |
| | 382 | | | J&J Snack Foods Corp. | | | 61 | |
| | |
| | 218 | | | John B. Sanfilippo & Son, Inc. | | | 17 | |
| | |
| | 477 | | | Lancaster Colony Corp. | | | 71 | |
| | |
| | 678 | | | Landec Corp. (a) | | | 6 | |
| | |
| | 382 | | | Limoneira Co. | | | 8 | |
| | |
| | 501 | | | Sanderson Farms, Inc. | | | 68 | |
| | |
| | 164 | | | Seneca Foods Corp., Class – A (a) | | | 5 | |
| | |
| | 1,779 | | | Simply Good Foods Co. (The) (a) | | | 43 | |
| | |
| | 420 | | | Tootsie Roll Industries, Inc. | | | 16 | |
| | | | | | | | |
| | | | | | | 820 | |
| | | | | | | | |
| |
| | | | Gas Utilities — 0.43% | |
| | |
| | 402 | | | Chesapeake Utilities Corp. | | | 38 | |
| | |
| | 2,238 | | | New Jersey Resources Corp. | | | 111 | |
| | |
| | 725 | | | Northwest Natural Holding Co. | | | 50 | |
| | |
| | 1,317 | | | One Gas, Inc. | | | 119 | |
| | |
| | 202 | | | RGC Resources, Inc. | | | 6 | |
| | |
| | 2,335 | | | South Jersey Industries, Inc. | | | 79 | |
| | |
| | 1,346 | | | Southwest Gas Corp. | | | 122 | |
| | |
| | 1,254 | | | Spire, Inc. | | | 105 | |
| | | | | | | | |
| | | | | | | 630 | |
| | | | | | | | |
| |
| | | | Health Care Equipment & Supplies — 6.66% | |
| | |
| | 2,183 | | | Accuray, Inc. (a) | | | 8 | |
| | |
| | 723 | | | Alphatec Holdings, Inc. | | | 3 | |
| | |
| | 919 | | | AngioDynamics, Inc. (a) | | | 18 | |
| | |
| | 360 | | | Anika Therapeutics, Inc. (a) | | | 15 | |
| | |
| | 4,066 | | | Antares Pharma, Inc. (a) | | | 13 | |
| | |
| | 806 | | | Apyx Medical Corp. | | | 5 | |
| | |
| | 935 | | | AtriCure, Inc. (a) | | | 28 | |
| | |
| | 36 | | | Atrion Corp. | | | 31 | |
| | |
| | 1,192 | | | Avanos Medical, Inc. (a) | | | 52 | |
| | |
| | 122 | | | Avedro, Inc. | | | 2 | |
See accompanying notes to financial statements.
105
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Equipment & Supplies (continued) | |
| | |
| | 855 | | | AxoGen, Inc. (a) | | $ | 17 | |
| | |
| | 381 | | | Axonics Modulation Technologies, Inc. (a) | | | 16 | |
| | |
| | 161 | | | Biolife Solutions, Inc. | | | 3 | |
| | |
| | 379 | | | BioSig Technologies, Inc. | | | 4 | |
| | |
| | 11,477 | | | Cardiovascular Systems, Inc. (a) | | | 493 | |
| | |
| | 3,430 | | | Cerus Corp. (a) | | | 19 | |
| | |
| | 1,547 | | | ConforMIS, Inc. | | | 7 | |
| | |
| | 684 | | | CONMED Corp. | | | 59 | |
| | |
| | 2,223 | | | Corindus Vascular Robotics, Inc., Class – I | | | 7 | |
| | |
| | 918 | | | CryoLife, Inc. (a) | | | 27 | |
| | |
| | 658 | | | Cryoport, Inc. (a) | | | 12 | |
| | |
| | 365 | | | Cutera, Inc. (a) | | | 8 | |
| | |
| | 697 | | | CytoSorbents Corp. (a) | | | 5 | |
| | |
| | 4,344 | | | Dexcom, Inc. (a) | | | 651 | |
| | |
| | 3,088 | | | Edwards Lifesciences Corp. (a) | | | 570 | |
| | |
| | 279 | | | Electrocore LLC (a) | | | 1 | |
| | |
| | 1,389 | | | GenMark Diagnostics, Inc. (a) | | | 9 | |
| | |
| | 9,492 | | | Glaukos Corp. (a) | | | 716 | |
| | |
| | 1,914 | | | Globus Medical, Inc., Class – A (a) | | | 81 | |
| | |
| | 1,291 | | | Haemonetics Corp. (a) | | | 155 | |
| | |
| | 176 | | | Heska Corp. (a) | | | 15 | |
| | |
| | 460 | | | Inogen, Inc. (a) | | | 31 | |
| | |
| | 10,802 | | | Insulet Corp. (a) | | | 1,289 | |
| | |
| | 818 | | | Integer Holdings Corp. (a) | | | 69 | |
| | |
| | 4,489 | | | Intricon Corp. (a) | | | 105 | |
| | |
| | 889 | | | Invacare Corp. | | | 5 | |
| | |
| | 110 | | | Iradimed Corp. (a) | | | 2 | |
| | |
| | 5,642 | | | iRhythm Technologies, Inc. (a) | | | 446 | |
| | |
| | 961 | | | Lantheus Holdings, Inc. (a) | | | 27 | |
| | |
| | 414 | | | LeMaitre Vascular, Inc. | | | 12 | |
| | |
| | 1,224 | | | LivaNova PLC (a) | | | 88 | |
| | |
| | 1,081 | | | Meridian Bioscience, Inc. | | | 13 | |
| | |
| | 1,351 | | | Merit Medical Systems, Inc. (a) | | | 80 | |
| | |
| | 179 | | | Misonix, Inc. | | | 5 | |
| | |
| | 849 | | | Natus Medical, Inc. (a) | | | 22 | |
| | |
| | 1,292 | | | Neogen Corp. (a) | | | 80 | |
| | |
| | 1,392 | | | Neuronetics, Inc. (a) | | | 17 | |
| | |
| | 745 | | | Nevro Corp. (a) | | | 48 | |
| | |
| | 14,505 | | | Novocure Ltd. (a) | | | 917 | |
| | |
| | 1,308 | | | NuVasive, Inc. (a) | | | 77 | |
| | |
| | 1,547 | | | OraSure Technologies, Inc. (a) | | | 14 | |
| | |
| | 455 | | | Orthofix Medical, Inc. (a) | | | 24 | |
| | |
| | 207 | | | Orthopediatrics Corp. (a) | | | 8 | |
| | |
| | 275 | | | Pulse Biosciences, Inc. (a) | | | 4 | |
| | |
| | 891 | | | Quidel Corp. (a) | | | 53 | |
| | |
| | 1,392 | | | Rockwell Medical Technologies, Inc. (a) | | | 4 | |
| | |
| | 1,430 | | | RTI Surgical, Inc. (a) | | | 6 | |
| | |
| | 374 | | | Seaspine Holdings Corp. (a) | | | 5 | |
| | |
| | 2,655 | | | Senseonics Holdings, Inc. (a) | | | 5 | |
| | |
| | 160 | | | Shockwave Medical, Inc. | | | 9 | |
| | |
| | 398 | | | SI-Bone, Inc. (a) | | | 8 | |
| | |
| | 620 | | | Sientra, Inc. (a) | | | 4 | |
| | |
| | 169 | | | Silk Road Medical, Inc. (a) | | | 8 | |
| | |
| | 53 | | | Soliton, Inc. | | | 1 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Health Care Equipment & Supplies (continued) | |
| | |
| | 22,953 | | | STAAR Surgical Co. (a) | | $ | 674 | |
| | |
| | 2,118 | | | STERIS PLC | | | 315 | |
| | |
| | 330 | | | SurModics, Inc. (a) | | | 14 | |
| | |
| | 457 | | | Tactile Systems Technology, Inc. (a) | | | 26 | |
| | |
| | 13,805 | | | Tandem Diabetes Care, Inc. (a) | | | 891 | |
| | |
| | 2,894 | | | The Cooper Companies, Inc. | | | 975 | |
| | |
| | 4,339 | | | Transenterix, Inc.^ (a) | | | 6 | |
| | |
| | 160 | | | TransMedics Group, Inc. | | | 5 | |
| | |
| | 88 | | | Utah Medical Products, Inc. | | | 8 | |
| | |
| | 127 | | | Vapotherm, Inc. (a) | | | 3 | |
| | |
| | 8,277 | | | Varex Imaging Corp. (a) | | | 254 | |
| | |
| | 1,743 | | | Viewray, Inc. (a) | | | 15 | |
| | |
| | 3,180 | | | Wright Medical Group N.V. (a) | | | 95 | |
| | |
| | 377 | | | Zynex, Inc. | | | 3 | |
| | | | | | | | |
| | | | | | | 9,820 | |
| | | | | | | | |
| |
| | | | Health Care Providers & Services — 2.01% | |
| | |
| | 11,163 | | | Acadia Healthcare Company, Inc. (a) | | | 390 | |
| | |
| | 265 | | | Addus HomeCare Corp. (a) | | | 20 | |
| | |
| | 786 | | | Amedisys, Inc. (a) | | | 95 | |
| | |
| | 459 | | | American Renal Associates Holdings, Inc. (a) | | | 3 | |
| | |
| | 1,161 | | | AMN Healthcare Services, Inc. (a) | | | 63 | |
| | |
| | 156 | | | Apollo Medical Holdings, Inc. (a) | | | 3 | |
| | |
| | 525 | | | Avalon GloboCare Corp. | | | 1 | |
| | |
| | 3,375 | | | BioScrip, Inc. (a) | | | 9 | |
| | |
| | 836 | | | Biotelemetry, Inc. (a) | | | 40 | |
| | |
| | 4,654 | | | Brookdale Senior Living, Inc. (a) | | | 34 | |
| | |
| | 171 | | | Catasys, Inc. | | | 3 | |
| | |
| | 2,032 | | | Community Health Systems, Inc. (a) | | | 5 | |
| | |
| | 227 | | | CorVel Corp. (a) | | | 20 | |
| | |
| | 896 | | | Cross Country Healthcare, Inc. (a) | | | 8 | |
| | |
| | 18,933 | | | Diplomat Pharmacy, Inc. (a) | | | 115 | |
| | |
| | 2,027 | | | Genesis Healthcare, Inc. (a) | | | 3 | |
| | |
| | 4,178 | | | Guardant Health, Inc. (a) | | | 361 | |
| | |
| | 877 | | | Hanger, Inc. (a) | | | 17 | |
| | |
| | 1,541 | | | HealthEquity, Inc. (a) | | | 101 | |
| | |
| | 5,224 | | | LHC Group, Inc. (a) | | | 625 | |
| | |
| | 598 | | | Magellan Health Services, Inc. (a) | | | 44 | |
| | |
| | 308 | | | National Healthcare Corp. | | | 25 | |
| | |
| | 302 | | | National Research Corp., Class – A | | | 17 | |
| | |
| | 1,651 | | | Owens & Minor, Inc. | | | 5 | |
| | |
| | 2,106 | | | Patterson Companies, Inc. | | | 48 | |
| | |
| | 472 | | | Petiq, Inc. (a) | | | 16 | |
| | |
| | 293 | | | Providence Service Corp. (a) | | | 17 | |
| | |
| | 2,579 | | | R1 RCM, Inc. (a) | | | 32 | |
| | |
| | 1,057 | | | RadNet, Inc. (a) | | | 15 | |
| | |
| | 2,748 | | | Select Medical Holdings Corp. (a) | | | 44 | |
| | |
| | 603 | | | Surgery Partners, Inc. (a) | | | 5 | |
| | |
| | 2,574 | | | Tenet Healthcare Corp. (a) | | | 53 | |
| | |
| | 1,275 | | | The Ensign Group, Inc. | | | 73 | |
| | |
| | 316 | | | The Joint Corp. | | | 6 | |
| | |
| | 1,180 | | | Tivity Health, Inc. (a) | | | 19 | |
| | |
| | 8,239 | | | Triple-S Management Corp., Class – A (a) | | | 197 | |
| | |
| | 3,525 | | | U.S. Physical Therapy, Inc. | | | 432 | |
| | | | | | | | |
| | | | | | | 2,964 | |
| | | | | | | | |
See accompanying notes to financial statements.
106
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Health Care Technology — 0.98% | |
| | |
| | 4,301 | | | Allscripts Healthcare Solutions, Inc. (a) | | $ | 50 | |
| | |
| | 2,519 | | | Castlight Health, Inc., Class – B (a) | | | 8 | |
| | |
| | 319 | | | Computer Programs & Systems, Inc. | | | 9 | |
| | |
| | 1,821 | | | Evolent Health, Inc. (a) | | | 14 | |
| | |
| | 656 | | | HealthStream, Inc. (a) | | | 17 | |
| | |
| | 2,184 | | | HMS Holdings Corp. (a) | | | 71 | |
| | |
| | 1,771 | | | Inovalon Holdings, Inc., Class – A (a) | | | 26 | |
| | |
| | 5,460 | | | Inspire Medical System, Inc. (a) | | | 331 | |
| | |
| | 1,363 | | | NextGen Healthcare, Inc. (a) | | | 27 | |
| | |
| | 1,031 | | | Omnicell, Inc. (a) | | | 89 | |
| | |
| | 290 | | | OptimizeRx Corp. | | | 5 | |
| | |
| | 298 | | | Simulations Plus, Inc. | | | 9 | |
| | |
| | 490 | | | Tabula Rasa Healthcare, Inc. (a) | | | 24 | |
| | |
| | 11,241 | | | Teladoc, Inc. (a) | | | 746 | |
| | |
| | 775 | | | Vocera Communications, Inc. (a) | | | 25 | |
| | | | | | | | |
| | | | | | | 1,451 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 1.27% | |
| | |
| | 1,723 | | | BBX Capital Corp. | | | 8 | |
| | |
| | 29 | | | Biglari Holdings, Inc., Class – B (a) | | | 3 | |
| | |
| | 512 | | | BJ’s Restaurant, Inc. | | | 22 | |
| | |
| | 2,308 | | | Bloomin’ Brands, Inc. | | | 44 | |
| | |
| | 209 | | | Bluegreen Vacations Corp. | | | 2 | |
| | |
| | 2,023 | | | Boyd Gaming Corp. | | | 54 | |
| | |
| | 942 | | | Brinker International, Inc. | | | 37 | |
| | |
| | 877 | | | Carrols Restaurant Group, Inc. (a) | | | 8 | |
| | |
| | 682 | | | Century Casinos, Inc. (a) | | | 7 | |
| | |
| | 887 | | | Churchill Downs, Inc. | | | 103 | |
| | |
| | 422 | | | Chuy’s Holdings, Inc. (a) | | | 10 | |
| | |
| | 486 | | | Cracker Barrel Old Country Store, Inc. | | | 83 | |
| | |
| | 960 | | | Dave & Buster’s Entertainment, Inc. | | | 39 | |
| | |
| | 905 | | | Del Frisco’s Restaurant Group, Inc. (a) | | | 7 | |
| | |
| | 730 | | | Del Taco Restaurants, Inc. (a) | | | 9 | |
| | |
| | 1,527 | | | Denny’s Corp. (a) | | | 31 | |
| | |
| | 421 | | | DineEquity, Inc. | | | 40 | |
| | |
| | 1,571 | | | Drive Shack, Inc. (a) | | | 7 | |
| | |
| | 511 | | | El Pollo Loco Holdings, Inc. (a) | | | 5 | |
| | |
| | 7,279 | | | Eldorado Resorts, Inc. (a) | | | 336 | |
| | |
| | 92 | | | Empire Resorts, Inc. (a) | | | 1 | |
| | |
| | 568 | | | Fiesta Restaurant Group, Inc. (a) | | | 7 | |
| | |
| | 491 | | | Golden Entertainment, Inc. (a) | | | 7 | |
| | |
| | 214 | | | Inspired Entertainment, Inc. | | | 2 | |
| | |
| | 590 | | | International Speedway Corp., Class – A | | | 26 | |
| | |
| | 294 | | | J. Alexander’s Holdings, Inc. (a) | | | 3 | |
| | |
| | 650 | | | Jack in the Box, Inc. | | | 53 | |
| | |
| | 576 | | | Lindblad Expeditions Holdings, Inc. (a) | | | 10 | |
| | |
| | 1,108 | | | Marriott Vacations Worldwide Corp. | | | 108 | |
| | |
| | 285 | | | Monarch Casino & Resort, Inc. (a) | | | 12 | |
| | |
| | 73 | | | Nathan’s Famous, Inc. | | | 6 | |
| | |
| | 705 | | | Noodles & Co. (a) | | | 6 | |
| | |
| | 548 | | | Papa John’s International, Inc. | | | 25 | |
| | |
| | 2,799 | | | Penn National Gaming, Inc. (a) | | | 54 | |
| | |
| | 3,318 | | | Planet Fitness, Inc., Class – A (a) | | | 241 | |
| | |
| | 665 | | | PlayAGS, Inc. (a) | | | 13 | |
| | |
| | 666 | | | Potbelly Corp. (a) | | | 3 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hotels, Restaurants & Leisure (continued) | |
| | |
| | 226 | | | RCI Hospitality Holdings, Inc. | | $ | 4 | |
| | |
| | 589 | | | Red Lion Hotels Corp. (a) | | | 4 | |
| | |
| | 336 | | | Red Robin Gourmet Burgers, Inc. (a) | | | 10 | |
| | |
| | 1,760 | | | Red Rock Resorts, Inc., Class – A | | | 38 | |
| | |
| | 703 | | | Ruth’s Hospitality Group, Inc. | | | 16 | |
| | |
| | 1,406 | | | Scientific Games Corp., Class – A (a) | | | 28 | |
| | |
| | 1,391 | | | SeaWorld Entertainment, Inc. (a) | | | 43 | |
| | |
| | 707 | | | Shake Shack, Inc., Class – A (a) | | | 51 | |
| | |
| | 292 | | | Speedway Motorsports, Inc. | | | 5 | |
| | |
| | 800 | | | Target Hospitality Corp. | | | 7 | |
| | |
| | 1,718 | | | Texas Roadhouse, Inc., Class – A | | | 93 | |
| | |
| | 1,062 | | | The Cheesecake Factory, Inc. | | | 46 | |
| | |
| | 516 | | | The Habit Restaurants, Inc. (a) | | | 5 | |
| | |
| | 507 | | | Twin River Worldwide Holdings, Inc. | | | 15 | |
| | |
| | 739 | | | Wingstop, Inc. | | | 70 | |
| | | | | | | | |
| | | | | | | 1,867 | |
| | | | | | | | |
| |
| | | | Household Durables — 1.83% | |
| | |
| | 234 | | | Bassett Furniture Industries, Inc. | | | 4 | |
| | |
| | 748 | | | Beazer Homes USA, Inc. (a) | | | 7 | |
| | |
| | 219 | | | Cavco Industries, Inc. (a) | | | 35 | |
| | |
| | 7,915 | | | Century Communities, Inc. (a) | | | 210 | |
| | |
| | 605 | | | Ethan Allen Interiors, Inc. | | | 13 | |
| | |
| | 183 | | | Flexsteel Industries, Inc. | | | 3 | |
| | |
| | 3,077 | | | Gopro, Inc., Class – A (a) | | | 17 | |
| | |
| | 575 | | | Green Brick Partners, Inc. (a) | | | 5 | |
| | |
| | 156 | | | Hamilton Beach Brands Holding Co. | | | 3 | |
| | |
| | 633 | | | Helen of Troy Ltd. (a) | | | 83 | |
| | |
| | 292 | | | Hooker Furniture Corp. | | | 6 | |
| | |
| | 570 | | | Installed Building Products, Inc. (a) | | | 34 | |
| | |
| | 5,526 | | | iRobot Corp. (a) | | | 506 | |
| | |
| | 2,127 | | | KB Home | | | 55 | |
| | |
| | 1,152 | | | La-Z-Boy, Inc. | | | 35 | |
| | |
| | 100 | | | Legacy Housing Corp. (a) | | | 1 | |
| | |
| | 8,084 | | | LGI Homes, Inc. (a) | | | 578 | |
| | |
| | 290 | | | Lifetime Brands, Inc. | | | 3 | |
| | |
| | 155 | | | Lovesac Co. (The) (a) | | | 5 | |
| | |
| | 668 | | | M/I Homes, Inc. (a) | | | 19 | |
| | |
| | 1,240 | | | MDC Holdings, Inc. | | | 41 | |
| | |
| | 944 | | | Meritage Homes Corp. (a) | | | 48 | |
| | |
| | 210 | | | Purple Innovation, Inc. (a) | | | 1 | |
| | |
| | 2,666 | | | Roku, Inc. (a) | | | 241 | |
| | |
| | 5,182 | | | Skyline Champion Corp. (a) | | | 142 | |
| | |
| | 1,707 | | | Sonos, Inc. (a) | | | 19 | |
| | |
| | 2,856 | | | Taylor Morrison Home Corp., Class – A (a) | | | 60 | |
| | |
| | 893 | | | TopBuild Corp. (a) | | | 74 | |
| | |
| | 3,564 | | | TRI Pointe Homes, Inc. (a) | | | 43 | |
| | |
| | 1,229 | | | Tupperware Brands Corp. | | | 23 | |
| | |
| | 8,618 | | | Universal Electronics, Inc. (a) | | | 354 | |
| | |
| | 780 | | | William Lyon Homes, Class – A (a) | | | 14 | |
| | |
| | 768 | | | Zagg, Inc. (a) | | | 5 | |
| | | | | | | | |
| | | | | | | 2,687 | |
| | | | | | | | |
| |
| | | | Household Products — 0.20% | |
| | |
| | 263 | | | Central Garden & Pet Co. (a) | | | 7 | |
| | |
| | 1,069 | | | Central Garden & Pet Co., Class – A (a) | | | 26 | |
| | |
| | 149 | | | Oil-Dri Corporation of America | | | 5 | |
See accompanying notes to financial statements.
107
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Household Products (continued) | |
| | |
| | 3,757 | | | Spectrum Brands Holdings, Inc. | | $ | 203 | |
| | |
| | 347 | | | WD-40 Co. | | | 55 | |
| | | | | | | | |
| | | | | | | 296 | |
| | | | | | | | |
| |
| | | | Independent Power and Renewable Electricity Producers — 0.13% | |
| | |
| | 2,576 | | | Atlantic Power Corp. (a) | | | 6 | |
| | |
| | 906 | | | Clearway Energy, Inc., Class – A | | | 15 | |
| | |
| | 1,859 | | | Clearway Energy, Inc., Class – C | | | 31 | |
| | |
| | 1,000 | | | Ormat Technologies, Inc. | | | 64 | |
| | |
| | 2,219 | | | Pattern Energy Group, Inc. | | | 51 | |
| | |
| | 1,842 | | | Terraform Power, Inc., Class – A | | | 26 | |
| | | | | | | | |
| | | | | | | 193 | |
| | | | | | | | |
| |
| | | | Industrial Conglomerates — 0.02% | |
| | |
| | 904 | | | Raven Industries, Inc. | | | 32 | |
| | | | | | | | |
| |
| | | | Insurance — 3.21% | |
| | |
| | 1,139 | | | Ambac Financial Group, Inc. (a) | | | 19 | |
| | |
| | 9,022 | | | American Equity Investment Life Holding Co. | | | 245 | |
| | |
| | 481 | | | AMERISAFE, Inc. | | | 31 | |
| | |
| | 2,518 | | | Argo Group International Holdings Ltd. | | | 186 | |
| | |
| | 5,371 | | | AXIS Capital Holdings Ltd. | | | 320 | |
| | |
| | 1,182 | | | Citizens, Inc. (a) | | | 9 | |
| | |
| | 18,696 | | | CNO Financial Group, Inc. | | | 312 | |
| | |
| | 400 | | | Crawford & Co. | | | 4 | |
| | |
| | 270 | | | Donegal Group, Inc. | | | 4 | |
| | |
| | 563 | | | eHealth, Inc. (a) | | | 48 | |
| | |
| | 237 | | | EMC Insurance Group, Inc. | | | 9 | |
| | |
| | 790 | | | Employers Holdings, Inc. | | | 33 | |
| | |
| | 296 | | | Enstar Group Ltd. (a) | | | 52 | |
| | |
| | 1,589 | | | Everest Re Group Ltd. | | | 393 | |
| | |
| | 247 | | | FBL Financial Group, Inc., Class – A | | | 16 | |
| | |
| | 288 | | | FedNat Holding Co. | | | 4 | |
| | |
| | 12,758 | | | Genworth Financial, Inc., Class – A (a) | | | 47 | |
| | |
| | 198 | | | Global Indemnity Ltd. | | | 6 | |
| | |
| | 23,140 | | | Goosehead Insurance, Inc. | | | 1,107 | |
| | |
| | 740 | | | Greenlight Capital Re Ltd. (a) | | | 6 | |
| | |
| | 317 | | | Hallmark Financial Services, Inc. (a) | | | 5 | |
| | |
| | 171 | | | HCI Group, Inc. | | | 7 | |
| | |
| | 309 | | | Health Insurance Innovations, Inc., Class – A (a) | | | 8 | |
| | |
| | 664 | | | Heritage Insurance Holdings, Inc. | | | 10 | |
| | |
| | 1,042 | | | Horace Mann Educators Corp. | | | 42 | |
| | |
| | 117 | | | Independence Holding Co. | | | 5 | |
| | |
| | 38 | | | Investors Title Co. | | | 6 | |
| | |
| | 742 | | | James River Group Holdings | | | 35 | |
| | |
| | 4,330 | | | Kemper Corp. | | | 374 | |
| | |
| | 494 | | | Kinsale Capital Group, Inc. | | | 45 | |
| | |
| | 2,157 | | | MBIA, Inc. (a) | | | 20 | |
| | |
| | 1,705 | | | National General Holdings Corp. | | | 39 | |
| | |
| | 59 | | | National Western Life Group, Inc., Class – A | | | 15 | |
| | |
| | 241 | | | NI Holdings, Inc. (a) | | | 4 | |
| | |
| | 137 | | | Palomar Holdings, Inc. | | | 3 | |
| | |
| | 1,344 | | | ProAssurance Corp. | | | 49 | |
| | |
| | 276 | | | Protective Insurance Corp., Class – B | | | 5 | |
| | |
| | 1,006 | | | RLI Corp. | | | 86 | |
| | |
| | 373 | | | Safety Insurance Group, Inc. | | | 35 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Insurance (continued) | |
| | |
| | 1,475 | | | Selective Insurance Group, Inc. | | $ | 110 | |
| | |
| | 440 | | | State Auto Financial Corp. | | | 15 | |
| | |
| | 591 | | | Stewart Information Services Corp. | | | 24 | |
| | |
| | 1,863 | | | Third Point Reinsurance Ltd. (a) | | | 19 | |
| | |
| | 614 | | | Tiptree, Inc., Class B | | | 4 | |
| | |
| | 13,313 | | | Trupanion, Inc.^ (a) | | | 481 | |
| | |
| | 533 | | | United Fire Group, Inc. | | | 26 | |
| | |
| | 487 | | | United Insurance Holdings Corp. | | | 7 | |
| | |
| | 786 | | | Universal Insurance Holdings, Inc. | | | 22 | |
| | |
| | 5,379 | | | W.R. Berkley Corp. | | | 355 | |
| | |
| | 491 | | | Watford Holdings Ltd. (a) | | | 13 | |
| | | | | | | | |
| | | | | | | 4,720 | |
| | | | | | | | |
| |
| | | | Interactive Media & Services — 0.28% | |
| | |
| | 546 | | | Care.com, Inc. (a) | | | 6 | |
| | |
| | 1,847 | | | Cargurus, Inc. (a) | | | 67 | |
| | |
| | 1,745 | | | Cars.com, Inc. (a) | | | 34 | |
| | |
| | 1,238 | | | DHI Group, Inc. (a) | | | 4 | |
| | |
| | 885 | | | Eventbrite, Inc. (a) | | | 14 | |
| | |
| | 205 | | | EverQuote, Inc., Class – A | | | 3 | |
| | |
| | 1,830 | | | Liberty TripAdvisor Holdings, Inc., Class – A (a) | | | 23 | |
| | |
| | 10,330 | | | QuinStreet, Inc. (a) | | | 164 | |
| | |
| | 1,825 | | | The Meet Group, Inc. (a) | | | 6 | |
| | |
| | 104 | | | Travelzoo, Inc. (a) | | | 2 | |
| | |
| | 2,601 | | | TrueCar, Inc. (a) | | | 14 | |
| | |
| | 2,007 | | | Yelp, Inc. (a) | | | 69 | |
| | | | | | | | |
| | | | | | | 406 | |
| | | | | | | | |
| |
| | | | Internet & Direct Marketing Retail — 0.62% | |
| | |
| | 641 | | | 1-800-FLOWERS.COM, Inc., Class – A (a) | | | 12 | |
| | |
| | 269 | | | Duluth Holdings, Inc., Class – B (a) | | | 4 | |
| | |
| | 2,532 | | | Etsy, Inc. (a) | | | 155 | |
| | |
| | 269 | | | Gaia, Inc. (a) | | | 2 | |
| | |
| | 11,296 | | | Groupon, Inc. (a) | | | 40 | |
| | |
| | 286 | | | Lands’ End, Inc. (a) | | | 3 | |
| | |
| | 449 | | | Leaf Group Ltd. (a) | | | 3 | |
| | |
| | 1,374 | | | Liberty Expedia Holdings, Class – A (a) | | | 66 | |
| | |
| | 629 | | | Liquidity Services, Inc. (a) | | | 4 | |
| | |
| | 673 | | | Overstock.com, Inc. (a) | | | 9 | |
| | |
| | 505 | | | PetMed Express, Inc. | | | 8 | |
| | |
| | 1,997 | | | Quotient Technology, Inc. (a) | | | 21 | |
| | |
| | 863 | | | Shutterfly, Inc. (a) | | | 44 | |
| | |
| | 481 | | | Shutterstock, Inc. | | | 19 | |
| | |
| | 428 | | | Stamps.com, Inc. (a) | | | 19 | |
| | |
| | 15,615 | | | Stitch Fix, Inc., Class – A^ (a) | | | 501 | |
| | |
| | 1,270 | | | Waitr Holdings, Inc. (a) | | | 8 | |
| | | | | | | | |
| | | | | | | 918 | |
| | | | | | | | |
| |
| | | | IT Services — 2.34% | |
| | |
| | 2,341 | | | Alliance Data Systems Corp. | | | 328 | |
| | |
| | 44,370 | | | Brightcove, Inc. (a) | | | 458 | |
| | |
| | 833 | | | Carbonite, Inc. (a) | | | 22 | |
| | |
| | 979 | | | Cardtronics PLC (a) | | | 27 | |
| | |
| | 349 | | | Cass Information Systems, Inc. | | | 17 | |
| | |
| | 4,257 | | | Conduent, Inc. (a) | | | 41 | |
| | |
| | 829 | | | CSG Systems International, Inc. | | | 40 | |
| | |
| | 1,801 | | | Endurance International Group Holdings, Inc. (a) | | | 9 | |
| | |
| | 2,781 | | | Euronet Worldwide, Inc. (a) | | | 467 | |
See accompanying notes to financial statements.
108
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | IT Services (continued) | |
| | |
| | 1,702 | | | Everi Holdings, Inc. (a) | | $ | 20 | |
| | |
| | 13,934 | | | EVERTEC, Inc. | | | 456 | |
| | |
| | 782 | | | Evo Payments, Inc., Class – A (a) | | | 25 | |
| | |
| | 1,245 | | | Exela Technologies, Inc. (a) | | | 3 | |
| | |
| | 845 | | | Exlservice Holdings, Inc. (a) | | | 56 | |
| | |
| | 2,758 | | | Global Payments, Inc. | | | 442 | |
| | |
| | 1,047 | | | GTT Communications, Inc. (a) | | | 18 | |
| | |
| | 232 | | | I3 Verticals, Inc., Class – A (a) | | | 7 | |
| | |
| | 994 | | | Information Services Group, Inc. (a) | | | 3 | |
| | |
| | 314 | | | International Money Express, Inc. | | | 4 | |
| | |
| | 2,896 | | | Limelight Networks, Inc. (a) | | | 8 | |
| | |
| | 4,900 | | | LiveRamp Holdings, Inc. (a) | | | 238 | |
| | |
| | 675 | | | ManTech International Corp., Class – A | | | 44 | |
| | |
| | 1,604 | | | MAXIMUS, Inc. | | | 116 | |
| | |
| | 1,656 | | | NIC, Inc. | | | 27 | |
| | |
| | 721 | | | Paysign, Inc. (a) | | | 10 | |
| | |
| | 813 | | | Perficient, Inc. (a) | | | 28 | |
| | |
| | 3,565 | | | Perspecta, Inc. | | | 83 | |
| | |
| | 1,157 | | | Presidio, Inc. | | | 16 | |
| | |
| | 259 | | | PRGX Global, Inc. (a) | | | 2 | |
| | |
| | 262 | | | PRGX Global, Inc. | | | 2 | |
| | |
| | 158 | | | Priority Technology Holdings, Inc. | | | 1 | |
| | |
| | 1,488 | | | Science Applications International Corp. | | | 129 | |
| | |
| | 394 | | | Startek, Inc. (a) | | | 3 | |
| | |
| | 986 | | | Sykes Enterprises, Inc. (a) | | | 27 | |
| | |
| | 639 | | | The Hackett Group, Inc. | | | 11 | |
| | |
| | 353 | | | TTEC Holdings, Inc. | | | 16 | |
| | |
| | 231 | | | Tucows, Inc. (a) | | | 14 | |
| | |
| | 1,314 | | | Unisys Corp. (a) | | | 13 | |
| | |
| | 14,264 | | | Verra Mobility Corp. (a) | | | 187 | |
| | |
| | 725 | | | Virtusa Corp. (a) | | | 32 | |
| | | | | | | | |
| | | | | | | 3,450 | |
| | | | | | | | |
| |
| | | | Leisure Products — 0.77% | |
| | |
| | 887 | | | Acushnet Holdings Corp. | | | 23 | |
| | |
| | 1,397 | | | American Outdoor Brands Corp. (a) | | | 13 | |
| | |
| | 12,231 | | | Callaway Golf Co. | | | 210 | |
| | |
| | 589 | | | Clarus Corp. | | | 9 | |
| | |
| | 324 | | | Escalade, Inc. | | | 4 | |
| | |
| | 126 | | | Johnson Outdoors, Inc., Class – A | | | 9 | |
| | |
| | 514 | | | Malibu Boats, Inc., Class – A (a) | | | 20 | |
| | |
| | 197 | | | Marine Products Corp. | | | 3 | |
| | |
| | 478 | | | Mastercraft Boat Holdings, Inc. (a) | | | 9 | |
| | |
| | 417 | | | Sturm, Ruger & Co., Inc. | | | 23 | |
| | |
| | 43,379 | | | Vista Outdoor, Inc. (a) | | | 385 | |
| | |
| | 14,553 | | | Yeti Holdings, Inc.^ (a) | | | 421 | |
| | | | | | | | |
| | | | | | | 1,129 | |
| | | | | | | | |
| |
| | | | Life Sciences Tools & Services — 0.87% | |
| | |
| | 686 | | | Accelerate Diagnostics, Inc. (a) | | | 16 | |
| | |
| | 849 | | | Cambrex Corp. (a) | | | 40 | |
| | |
| | 961 | | | Chromadex Corp. (a) | | | 4 | |
| | |
| | 1,331 | | | Codexis, Inc. (a) | | | 25 | |
| | |
| | 1,286 | | | ENZO Biochem, Inc. (a) | | | 4 | |
| | |
| | 33,754 | | | Fluidigm Corp. (a) | | | 416 | |
| | |
| | 1,058 | | | Luminex Corp. | | | 22 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Life Sciences Tools & Services (continued) | |
| | |
| | 690 | | | Medpace Holdings, Inc. (a) | | $ | 45 | |
| | |
| | 826 | | | NanoString Technologies, Inc. (a) | | | 25 | |
| | |
| | 2,201 | | | NeoGenomics, Inc. (a) | | | 48 | |
| | |
| | 3,582 | | | Pacific Biosciences of California, Inc. (a) | | | 22 | |
| | |
| | 8,085 | | | Qiagen N.V. (a) | | | 328 | |
| | |
| | 5,866 | | | Quanterix Corp. (a) | | | 198 | |
| | |
| | 1,569 | | | Syneos Health, Inc. (a) | | | 80 | |
| | | | | | | | |
| | | | | | | 1,273 | |
| | | | | | | | |
| |
| | | | Machinery — 4.18% | |
| | |
| | 15,148 | | | Actuant Corp., Class – A | | | 376 | |
| | |
| | 246 | | | Alamo Group, Inc. | | | 25 | |
| | |
| | 7,830 | | | Albany International Corp., Class – A | | | 650 | |
| | |
| | 1,618 | | | Altra Holdings, Inc. | | | 58 | |
| | |
| | 557 | | | Astec Industries, Inc. | | | 18 | |
| | |
| | 1,206 | | | Barnes Group, Inc. | | | 68 | |
| | |
| | 357 | | | Blue Bird Corp. (a) | | | 7 | |
| | |
| | 1,064 | | | Briggs & Stratton Corp. | | | 11 | |
| | |
| | 4,567 | | | Chart Industries, Inc. (a) | | | 351 | |
| | |
| | 489 | | | CIRCOR International, Inc. (a) | | | 22 | |
| | |
| | 1,699 | | | Columbus McKinnon Corp. | | | 71 | |
| | |
| | 710 | | | Commercial Vehicle Group, Inc. (a) | | | 6 | |
| | |
| | 363 | | | DMC Global, Inc. | | | 23 | |
| | |
| | 564 | | | Douglas Dynamics, Inc. | | | 22 | |
| | |
| | 135 | | | Eastern Co. (The) | | | 4 | |
| | |
| | 928 | | | Energy Recovery, Inc. (a) | | | 10 | |
| | |
| | 515 | | | ENPRO Industries, Inc. | | | 33 | |
| | |
| | 644 | | | ESCO Technologies, Inc. | | | 53 | |
| | |
| | 1,887 | | | Evoqua Water Technologies Co. (a) | | | 27 | |
| | |
| | 1,505 | | | Federal Signal Corp. | | | 40 | |
| | |
| | 1,165 | | | Franklin Electric Co., Inc. | | | 55 | |
| | |
| | 268 | | | Gencor Industries, Inc. (a) | | | 3 | |
| | |
| | 531 | | | Global Brass & Copper Holdings, Inc. | | | 23 | |
| | |
| | 240 | | | Graham Corp. | | | 5 | |
| | |
| | 1,992 | | | Harsco Corp. (a) | | | 55 | |
| | |
| | 738 | | | Helios Technologies, Inc. | | | 34 | |
| | |
| | 1,554 | | | Hillenbrand, Inc. | | | 61 | |
| | |
| | 159 | | | Hurco Companies, Inc. | | | 6 | |
| | |
| | 253 | | | Hyster-Yale Materials Handling, Inc., Class – A | | | 14 | |
| | |
| | 786 | | | John Bean Technologies Corp. | | | 95 | |
| | |
| | 277 | | | Kadant, Inc. | | | 25 | |
| | |
| | 2,069 | | | Kennametal, Inc. | | | 77 | |
| | |
| | 37,166 | | | Kornit Digital Ltd. (a) | | | 1,177 | |
| | |
| | 248 | | | L.B. Foster Co., Class – A (a) | | | 7 | |
| | |
| | 272 | | | Lindsay Corp. | | | 22 | |
| | |
| | 659 | | | Luxfer Holdings PLC | | | 16 | |
| | |
| | 405 | | | Lydall, Inc. (a) | | | 8 | |
| | |
| | 894 | | | Manitowoc Co., Inc. (a) | | | 16 | |
| | |
| | 22,748 | | | Meritor, Inc. (a) | | | 553 | |
| | |
| | 1,730 | | | Milacron Holdings Corp. (a) | | | 24 | |
| | |
| | 285 | | | Miller Industries, Inc. | | | 9 | |
| | |
| | 1,399 | | | Mueller Industries, Inc. | | | 41 | |
| | |
| | 3,954 | | | Mueller Water Products, Inc., Class – A | | | 39 | |
| | |
| | 1,249 | | | Navistar International Corp. (a) | | | 43 | |
| | |
| | 1,008 | | | NN, Inc. | | | 10 | |
| | |
| | 80 | | | Omega Flex, Inc. | | | 6 | |
See accompanying notes to financial statements.
109
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Machinery (continued) | |
| | |
| | 244 | | | Park-Ohio Holdings Corp. | | $ | 8 | |
| | |
| | 2,122 | | | Proto Labs, Inc. (a) | | | 246 | |
| | |
| | 611 | | | RBC Bearings, Inc. (a) | | | 102 | |
| | |
| | 22,099 | | | REV Group, Inc. | | | 318 | |
| | |
| | 2,654 | | | Rexnord Corp. (a) | | | 80 | |
| | |
| | 862 | | | Spartan Motors, Inc. | | | 9 | |
| | |
| | 1,100 | | | SPX Corp. (a) | | | 36 | |
| | |
| | 1,056 | | | SPX FLOW, Inc. (a) | | | 44 | |
| | |
| | 317 | | | Standex International Corp. | | | 23 | |
| | |
| | 453 | | | Tennant Co. | | | 28 | |
| | |
| | 11,030 | | | Terex Corp. | | | 346 | |
| | |
| | 430 | | | The Gorman-Rupp Co. | | | 14 | |
| | |
| | 809 | | | The Greenbrier Companies, Inc. | | | 25 | |
| | |
| | 1,378 | | | Titan International, Inc. | | | 7 | |
| | |
| | 9,569 | | | TriMas Corp. (a) | | | 296 | |
| | |
| | 254 | | | Twin Disc, Inc. (a) | | | 4 | |
| | |
| | 1,376 | | | Wabash National Corp. | | | 22 | |
| | |
| | 1,140 | | | WABCO Holdings, Inc. (a) | | | 151 | |
| | |
| | 696 | | | Watts Water Technologies, Inc., Class – A | | | 65 | |
| | |
| | 3,216 | | | Welbilt, Inc. (a) | | | 54 | |
| | | | | | | | |
| | | | | | | 6,177 | |
| | | | | | | | |
| |
| | | | Marine — 0.22% | |
| | |
| | 1,194 | | | Costamare, Inc. | | | 6 | |
| | |
| | 1,129 | | | Eagle Bulk Shipping, Inc. (a) | | | 6 | |
| | |
| | 377 | | | Genco Shipping & Trading Ltd. (a) | | | 3 | |
| | |
| | 3,168 | | | Kirby Corp. (a) | | | 250 | |
| | |
| | 1,072 | | | Matson, Inc. | | | 42 | |
| | |
| | 1,494 | | | Safe Bulkers, Inc. (a) | | | 2 | |
| | |
| | 1,293 | | | Scorpio Bulkers, Inc. | | | 6 | |
| | | | | | | | |
| | | | | | | 315 | |
| | | | | | | | |
| |
| | | | Media — 0.82% | |
| | |
| | 248 | | | Boston Omaha Corp. (a) | | | 6 | |
| | |
| | 13,612 | | | Cardlytics, Inc. (a) | | | 354 | |
| | |
| | 228 | | | cbdMD, Inc. | | | 1 | |
| | |
| | 2,351 | | | Central European Media Enterprises Ltd. (a) | | | 10 | |
| | |
| | 1,102 | | | Clear Channel Outdoor Holdings, Inc. (a) | | | 5 | |
| | |
| | 1,186 | | | comScore, Inc. (a) | | | 6 | |
| | |
| | 344 | | | Cumulus Media, Inc., Class – A | | | 6 | |
| | |
| | 29 | | | Daily Journal Corp. (a) | | | 7 | |
| | |
| | 666 | | | Emerald Expositions Events, Inc. | | | 7 | |
| | |
| | 3,121 | | | Entercom Communications Corp. | | | 18 | |
| | |
| | 1,817 | | | Entravision Communications Corp., Class – A | | | 6 | |
| | |
| | 1,066 | | | Fluent, Inc. (a) | | | 6 | |
| | |
| | 2,764 | | | Gannett Company, Inc. | | | 23 | |
| | |
| | 2,286 | | | Gray Television, Inc. (a) | | | 37 | |
| | |
| | 462 | | | Hemisphere Media Group, Inc. (a) | | | 6 | |
| | |
| | 1,297 | | | Lee Enterprises, Inc. (a) | | | 3 | |
| | |
| | 1,163 | | | Liberty Lilac Group, Class – A (a) | | | 20 | |
| | |
| | 2,870 | | | Liberty Lilac Group, Class – C (a) | | | 50 | |
| | |
| | 309 | | | Loral Space & Communications, Inc. (a) | | | 11 | |
| | |
| | 840 | | | Marchex, Inc. (a) | | | 4 | |
| | |
| | 1,301 | | | MDC Partners, Inc., Class – A (a) | | | 3 | |
| | |
| | 1,003 | | | Meredith Corp. | | | 55 | |
| | |
| | 1,475 | | | MSG Networks, Inc., Class – A (a) | | | 31 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Media (continued) | |
| | |
| | 1,847 | | | National CineMedia, Inc. | | $ | 12 | |
| | |
| | 1,509 | | | New Media Investment Group, Inc. | | | 14 | |
| | |
| | 3,722 | | | Nexstar Broadcasting Group, Inc., Class – A | | | 375 | |
| | |
| | 115 | | | Saga Communications, Inc. | | | 4 | |
| | |
| | 716 | | | Scholastic Corp. | | | 24 | |
| | |
| | 570 | | | TechTarget (a) | | | 12 | |
| | |
| | 5,480 | | | TEGNA, Inc. | | | 83 | |
| | |
| | 1,369 | | | The E.W. Scripps Co., Class – A | | | 21 | |
| | |
| | 469 | | | Tribune Publishing Co. | | | 4 | |
| | |
| | 796 | | | Wideopenwest, Inc. (a) | | | 6 | |
| | | | | | | | |
| | | | | | | 1,230 | |
| | | | | | | | |
| |
| | | | Metals & Mining — 2.12% | |
| | |
| | 6,555 | | | Agnico-Eagle Mines Ltd. | | | 336 | |
| | |
| | 7,775 | | | AK Steel Holding Corp. (a) | | | 18 | |
| | |
| | 41,772 | | | Allegheny Technologies, Inc. (a) | | | 1,053 | |
| | |
| | 3,268 | | | Carpenter Technology Corp. | | | 157 | |
| | |
| | 1,264 | | | Century Aluminum Co. (a) | | | 9 | |
| | |
| | 7,197 | | | Cleveland-Cliffs, Inc.^ | | | 77 | |
| | |
| | 5,103 | | | Coeur d’Alene Mines Corp. (a) | | | 22 | |
| | |
| | 2,971 | | | Commercial Metals Co. | | | 53 | |
| | |
| | 4,276 | | | Compass Minerals International, Inc. | | | 235 | |
| | |
| | 58,456 | | | Ferroglobe PLC | | | 99 | |
| | |
| | 1,447 | | | Gold Resource Corp. | | | 5 | |
| | |
| | 321 | | | Haynes International, Inc. | | | 10 | |
| | |
| | 12,114 | | | Hecla Mining Co. | | | 22 | |
| | |
| | 408 | | | Kaiser Aluminum Corp. | | | 40 | |
| | |
| | 3,939 | | | Materion Corp. | | | 267 | |
| | |
| | 153 | | | Mayville Engineering Co, Inc. | | | 2 | |
| | |
| | 5,667 | | | Novagold Resources, Inc. (a) | | | 33 | |
| | |
| | 273 | | | Olympic Steel, Inc. | | | 4 | |
| | |
| | 42,355 | | | Pan American Silver Corp. | | | 548 | |
| | |
| | 203 | | | Ramaco Resources, Inc. (a) | | | 1 | |
| | |
| | 404 | | | Ryerson Holding Corp. (a) | | | 3 | |
| | |
| | 629 | | | Schnitzer Steel Industries, Inc., Class – A | | | 16 | |
| | |
| | 2,185 | | | SunCoke Energy, Inc. (a) | | | 19 | |
| | |
| | 200 | | | Synalloy Corp. | | | 3 | |
| | |
| | 956 | | | Timkensteel Corp. (a) | | | 8 | |
| | |
| | 1,294 | | | Warrior Met Coal, Inc. | | | 34 | |
| | |
| | 1,034 | | | Worthington Industries, Inc. | | | 42 | |
| | | | | | | | |
| | | | | | | 3,116 | |
| | | | | | | | |
| |
| | | | Mortgage Real Estate Investment Trusts — 0.46% | |
| | |
| | 816 | | | AG Mortgage Investment Trust, Inc. | | | 13 | |
| | |
| | 2,517 | | | Anworth Mortgage Asset Corp. | | | 10 | |
| | |
| | 3,818 | | | Apollo Commercial Real Estate Finance, Inc. | | | 69 | |
| | |
| | 693 | | | Ares Commercial Real Estate Corp. | | | 10 | |
| | |
| | 1,492 | | | ARMOUR Residential REIT, Inc. | | | 28 | |
| | |
| | 3,171 | | | Blackstone Mortgage Trust, Inc. | | | 112 | |
| | |
| | 2,131 | | | Capstead Mortgage Corp. | | | 18 | |
| | |
| | 433 | | | Cherry Hill Mortgage Investment Corp. | | | 7 | |
| | |
| | 2,082 | | | Colony Credit Real Estate, Inc. | | | 32 | |
| | |
| | 603 | | | Dynex Capital, Inc. | | | 10 | |
| | |
| | 654 | | | Ellington Financial, Inc. | | | 12 | |
| | |
| | 780 | | | Exantas Capital Corp. | | | 9 | |
| | |
| | 1,337 | | | Granite Point Mortgage Trust, Inc. | | | 26 | |
| | |
| | 402 | | | Great Ajax Corp. | | | 6 | |
See accompanying notes to financial statements.
110
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Mortgage Real Estate Investment Trusts (continued) | |
| | |
| | 1,550 | | | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | | $ | 44 | |
| | |
| | 3,261 | | | Invesco Mortgage Capital, Inc. | | | 53 | |
| | |
| | 632 | | | KKR Real Estate Finance Trust, Inc. | | | 13 | |
| | |
| | 2,585 | | | Ladder Capital Corp. | | | 43 | |
| | |
| | 5,216 | | | New York Mortgage Trust, Inc. | | | 32 | |
| | |
| | 1,256 | | | Orchid Island Capital, Inc. | | | 8 | |
| | |
| | 1,885 | | | Pennymac Mortgage Investment Trust | | | 41 | |
| | |
| | 768 | | | Ready Capital Corp. | | | 11 | |
| | |
| | 2,423 | | | Redwood Trust, Inc. | | | 40 | |
| | |
| | 1,236 | | | TPG RE Finance Trust, Inc. | | | 24 | |
| | |
| | 1,185 | | | Western Asset Mortgage Capital Corp. | | | 12 | |
| | | | | | | | |
| | | | | | | 683 | |
| | | | | | | | |
| |
| | | | Multiline Retail — 0.04% | |
| | |
| | 1,004 | | | Big Lots, Inc. | | | 29 | |
| | |
| | 270 | | | Dillard’s, Inc., Class – A^ | | | 17 | |
| | |
| | 7,997 | | | J.C. Penney Co., Inc.^ (a) | | | 9 | |
| | | | | | | | |
| | | | | | | 55 | |
| | | | | | | | |
| |
| | | | Multi-Utilities — 0.21% | |
| | |
| | 1,649 | | | Avista Corp. | | | 74 | |
| | |
| | 1,515 | | | Black Hills Corp. | | | 118 | |
| | |
| | 1,277 | | | NorthWestern Corp. | | | 92 | |
| | |
| | 367 | | | Unitil Corp. | | | 22 | |
| | | | | | | | |
| | | | | | | 306 | |
| | | | | | | | |
| |
| | | | Oil, Gas & Consumable Fuels — 2.66% | |
| | |
| | 4,355 | | | Abraxas Petroleum Corp. (a) | | | 4 | |
| | |
| | 1,220 | | | Altus Midstream Co., Class – A | | | 5 | |
| | |
| | 923 | | | Amyris, Inc. (a) | | | 3 | |
| | |
| | 432 | | | Arch Coal, Inc. | | | 41 | |
| | |
| | 837 | | | Ardmore Shipping Corp. (a) | | | 7 | |
| | |
| | 1,588 | | | Berry Petroleum Corp. | | | 17 | |
| | |
| | 454 | | | Bonanza Creek Energy, Inc. (a) | | | 9 | |
| | |
| | 390 | | | Brigham Minerals, Inc. | | | 8 | |
| | |
| | 1,215 | | | California Resources Corp. (a) | | | 24 | |
| | |
| | 5,768 | | | Callon Petroleum Co. (a) | | | 38 | |
| | |
| | 2,238 | | | Carrizo Oil & Gas, Inc. (a) | | | 22 | |
| | |
| | 36,733 | | | Centennial Resource Development, Inc., Class – A (a) | | | 279 | |
| | |
| | 753 | | | Chaparral Energy, Inc., Class – A | | | 4 | |
| | |
| | 3,570 | | | Clean Energy Fuels Corp. (a) | | | 10 | |
| | |
| | 4,766 | | | CNX Resources Corp. (a) | | | 35 | |
| | |
| | 365 | | | Comstock Resources, Inc. | | | 2 | |
| | |
| | 693 | | | CONSOL Energy, Inc. (a) | | | 18 | |
| | |
| | 460 | | | Contura Energy, Inc. (a) | | | 24 | |
| | |
| | 734 | | | CVR Energy, Inc. | | | 37 | |
| | |
| | 2,005 | | | Delek US Holdings, Inc. | | | 81 | |
| | |
| | 11,211 | | | Denbury Resources, Inc. (a) | | | 14 | |
| | |
| | 2,226 | | | DHT Holdings, Inc. | | | 13 | |
| | |
| | 532 | | | Diamond S Shipping, Inc. | | | 7 | |
| | |
| | 736 | | | Dorian LPG Ltd. (a) | | | 7 | |
| | |
| | 551 | | | Earthstone Energy, Inc. (a) | | | 3 | |
| | |
| | 2,250 | | | Energy Fuels, Inc. (a) | | | 7 | |
| | |
| | 34,263 | | | Euronav N.V. | | | 323 | |
| | |
| | 679 | | | Evolution Petroleum Corp. | | | 5 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Oil, Gas & Consumable Fuels (continued) | |
| | |
| | 2,424 | | | Extraction Oil & Gas, Inc. (a) | | $ | 10 | |
| | |
| | 934 | | | Falcon Minerals Corp. | | | 8 | |
| | |
| | 26,773 | | | GasLog Ltd. | | | 385 | |
| | |
| | 9,462 | | | Golar LNG Ltd. | | | 175 | |
| | |
| | 215 | | | Goodrich Petroleum Corp. (a) | | | 3 | |
| | |
| | 963 | | | Green Plains, Inc. | | | 10 | |
| | |
| | 4,378 | | | Gulfport Energy Corp. (a) | | | 21 | |
| | |
| | 509 | | | Hallador Energy Co. | | | 3 | |
| | |
| | 2,937 | | | Highpoint Resources Corp. (a) | | | 5 | |
| | |
| | 631 | | | International Seaways, Inc. (a) | | | 12 | |
| | |
| | 16 | | | Isramco, Inc. (a) | | | 2 | |
| | |
| | 1,598 | | | Jagged Peak Energy, Inc. (a) | | | 13 | |
| | |
| | 4,521 | | | Laredo Petroleum, Inc. (a) | | | 13 | |
| | |
| | 2,465 | | | Magnolia Oil & Gas Corp. (a) | | | 29 | |
| | |
| | 17,680 | | | Matador Resources Co. (a) | | | 352 | |
| | |
| | 376 | | | Midstates Petroleum Co., Inc. (a) | | | 2 | |
| | |
| | 526 | | | Montage Resources Corp.^ (a) | | | 3 | |
| | |
| | 7,431 | | | Murphy Oil Corp. | | | 183 | |
| | |
| | 104 | | | NACCO Industries, Inc., Class – A | | | 5 | |
| | |
| | 31,965 | | | Navigator Holdings Ltd. (a) | | | 300 | |
| | |
| | 285 | | | Nextdecade Corp. (a) | | | 2 | |
| | |
| | 14,076 | | | Noble Energy, Inc. | | | 315 | |
| | |
| | 3,592 | | | Nordic American Tankers Ltd. | | | 8 | |
| | |
| | 6,954 | | | Northern Oil & Gas, Inc. (a) | | | 13 | |
| | |
| | 8,003 | | | Oasis Petroleum, Inc. (a) | | | 45 | |
| | |
| | 1,378 | | | Overseas Shipholding Group, Inc. (a) | | | 3 | |
| | |
| | 389 | | | Panhandle Oil & Gas, Inc., Class – A | | | 5 | |
| | |
| | 865 | | | Par Petroleum Corp. (a) | | | 18 | |
| | |
| | 8,804 | | | PDC Energy, Inc. (a) | | | 317 | |
| | |
| | 1,924 | | | Peabody Energy Corp. | | | 46 | |
| | |
| | 340 | | | Penn Virginia Corp. (a) | | | 10 | |
| | |
| | 12 | | | Primeenergy Resources Corp. (a) | | | 2 | |
| | |
| | 5,899 | | | QEP Resources, Inc. (a) | | | 43 | |
| | |
| | 928 | | | Renewable Energy Group, Inc. (a) | | | 15 | |
| | |
| | 141 | | | REX American Resources Corp. (a) | | | 10 | |
| | |
| | 1,544 | | | Ring Energy, Inc. (a) | | | 5 | |
| | |
| | 864 | | | Roan Resources, Inc. | | | 2 | |
| | |
| | 252 | | | Rosehill Resources, Inc. | | | 1 | |
| | |
| | 834 | | | SandRidge Energy, Inc. (a) | | | 6 | |
| | |
| | 1,118 | | | Scorpio Tankers, Inc. | | | 33 | |
| | |
| | 2,000 | | | Semgroup Corp., Class – A | | | 24 | |
| | |
| | 2,049 | | | Ship Finance International Ltd. | | | 26 | |
| | |
| | 206 | | | Silverbow Resources, Inc. (a) | | | 3 | |
| | |
| | 11,989 | | | SM Energy Co. | | | 150 | |
| | |
| | 14,592 | | | Southwestern Energy Co. (a) | | | 46 | |
| | |
| | 6,100 | | | SRC Energy, Inc. (a) | | | 30 | |
| | |
| | 497 | | | Talos Energy, Inc. (a) | | | 12 | |
| | |
| | 1,627 | | | Teekay Shipping Corp. | | | 6 | |
| | |
| | 4,813 | | | Teekay Tankers Ltd. (a) | | | 6 | |
| | |
| | 2,371 | | | Tellurian, Inc.^ (a) | | | 19 | |
| | |
| | 4,112 | | | Uranium Energy Corp. (a) | | | 6 | |
| | |
| | 2,441 | | | W&T Offshore, Inc. (a) | | | 12 | |
| | |
| | 2,243 | | | Whiting Petroleum Corp. (a) | | | 42 | |
| | |
| | 1,659 | | | World Fuel Services Corp. | | | 60 | |
| | | | | | | | |
| | | | | | | 3,922 | |
| | | | | | | | |
See accompanying notes to financial statements.
111
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Paper & Forest Products — 0.14% | |
| | |
| | 979 | | | Boise Cascade Co. | | $ | 28 | |
| | |
| | 401 | | | Clearwater Paper Corp. (a) | | | 7 | |
| | |
| | 3,349 | | | Louisiana-Pacific Corp. | | | 87 | |
| | |
| | 421 | | | Neenah Paper, Inc. | | | 28 | |
| | |
| | 1,097 | | | P.H. Glatfelter Co. | | | 19 | |
| | |
| | 778 | | | Schweitzer-Mauduit International, Inc. | | | 26 | |
| | |
| | 878 | | | Verso Corp. (a) | | | 17 | |
| | | | | | | | |
| | | | | | | 212 | |
| | | | | | | | |
| |
| | | | Personal Products — 0.10% | |
| | |
| | 659 | | | e.l.f. Beauty, Inc. (a) | | | 9 | |
| | |
| | 1,363 | | | Edgewell Personal Care Co. (a) | | | 37 | |
| | |
| | 443 | | | Inter Parfums, Inc. | | | 29 | |
| | |
| | 339 | | | Lifevantage Corp. (a) | | | 4 | |
| | |
| | 288 | | | Medifast, Inc. | | | 38 | |
| | |
| | 237 | | | Nature’s Sunshine Products, Inc. (a) | | | 2 | |
| | |
| | 222 | | | Revlon, Inc., Class – A (a) | | | 4 | |
| | |
| | 340 | | | USANA Health Sciences, Inc. (a) | | | 27 | |
| | |
| | 200 | | | Youngevity International, Inc. | | | 1 | |
| | | | | | | | |
| | | | | | | 151 | |
| | | | | | | | |
| |
| | | | Pharmaceuticals — 1.41% | |
| | |
| | 1,898 | | | AcelRx Pharmaceuticals, Inc. | | | 5 | |
| | |
| | 966 | | | Aclaris Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 6,559 | | | Aerie Pharmaceuticals, Inc. (a) | | | 194 | |
| | |
| | 347 | | | Akcea Therapeutics, Inc. (a) | | | 8 | |
| | |
| | 2,351 | | | Akorn, Inc. (a) | | | 12 | |
| | |
| | 15,295 | | | Amneal Pharmaceuticals, Inc. (a) | | | 110 | |
| | |
| | 903 | | | Amphastar Pharmaceuticals, Inc. (a) | | | 19 | |
| | |
| | 230 | | | ANI Pharmaceuticals, Inc. (a) | | | 19 | |
| | |
| | 1,225 | | | Aratana Therapeutics, Inc. (a) | | | 6 | |
| | |
| | 5,618 | | | Arvinas, Inc. (a) | | | 124 | |
| | |
| | 568 | | | Assembly Biosciences, Inc. (a) | | | 8 | |
| | |
| | 1,637 | | | Assertio Therapeutics, Inc. (a) | | | 6 | |
| | |
| | 589 | | | Axsome Therapeutics, Inc. (a) | | | 15 | |
| | |
| | 1,975 | | | BioDelivery Sciences International, Inc. | | | 9 | |
| | |
| | 519 | | | Cerecor, Inc. | | | 3 | |
| | |
| | 631 | | | Chiasma, Inc. | | | 5 | |
| | |
| | 807 | | | Collegium Pharmaceutical, Inc. (a) | | | 11 | |
| | |
| | 2,438 | | | Corcept Therapeutics, Inc. (a) | | | 27 | |
| | |
| | 571 | | | CorMedix, Inc. | | | 5 | |
| | |
| | 1,727 | | | Cymabay Therapeutics, Inc. (a) | | | 12 | |
| | |
| | 1,167 | | | Dermira, Inc. (a) | | | 11 | |
| | |
| | 315 | | | Dova Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 571 | | | Eloxx Pharmaceuticals, Inc. (a) | | | 6 | |
| | |
| | 5,666 | | | ENDO International PLC (a) | | | 23 | |
| | |
| | 343 | | | Evofem Biosciences, Inc. | | | 2 | |
| | |
| | 249 | | | Evolus, Inc.^ (a) | | | 4 | |
| | |
| | 1,500 | | | EyePoint Pharmaceuticals, Inc. | | | 2 | |
| | |
| | 8,888 | | | Horizon Therapeutics PLC (a) | | | 214 | |
| | |
| | 1,735 | | | Innoviva, Inc. (a) | | | 25 | |
| | |
| | 773 | | | Intersect ENT, Inc. (a) | | | 18 | |
| | |
| | 1,085 | | | Intra-Cellular Therapies, Inc. (a) | | | 14 | |
| | |
| | 545 | | | Kala Pharmaceuticals, Inc. (a) | | | 3 | |
| | |
| | 122 | | | Kaleido Biosciences, Inc. (a) | | | 1 | |
| | |
| | 806 | | | Lannett Co., Inc. (a) | | | 5 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Pharmaceuticals (continued) | |
| | |
| | 332 | | | Liquidia Technologies, Inc. (a) | | $ | 3 | |
| | |
| | 2,075 | | | Mallinckrodt PLC (a) | | | 19 | |
| | |
| | 1,199 | | | Marinus Pharmaceuticals, Inc. (a) | | | 5 | |
| | |
| | 384 | | | Menlo Therapeutics, Inc. (a) | | | 2 | |
| | |
| | 1,111 | | | Myokardia, Inc. (a) | | | 56 | |
| | |
| | 2,996 | | | Nektar Therapeutics (a) | | | 107 | |
| | |
| | 163 | | | NGM Biopharmaceuticals, Inc. (a) | | | 2 | |
| | |
| | 861 | | | Ocular Therapeutix, Inc.^ (a) | | | 4 | |
| | |
| | 195 | | | Odonate Therapeutics, Inc. (a) | | | 7 | |
| | |
| | 1,172 | | | Omeros Corp.^ (a) | | | 18 | |
| | |
| | 557 | | | Optinose, Inc. (a) | | | 4 | |
| | |
| | 268 | | | Osmotica Pharmaceuticals PLC (a) | | | 1 | |
| | |
| | 6,281 | | | Pacira Pharmaceuticals, Inc. (a) | | | 272 | |
| | |
| | 895 | | | Paratek Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 514 | | | Phibro Animal Health Corp., Class – A | | | 16 | |
| | |
| | 1,311 | | | Prestige Brands Holdings, Inc. (a) | | | 42 | |
| | |
| | 505 | | | Reata Pharmaceuticals, Inc., Class – A (a) | | | 48 | |
| | |
| | 372 | | | resTORbio, Inc. (a) | | | 4 | |
| | |
| | 1,103 | | | Revance Therapeutics, Inc. (a) | | | 14 | |
| | |
| | 1,363 | | | SIGA Technologies, Inc. (a) | | | 8 | |
| | |
| | 876 | | | Strongbridge BioPharma PLC | | | 3 | |
| | |
| | 1,243 | | | Supernus Pharmaceuticals, Inc. (a) | | | 41 | |
| | |
| | 1,772 | | | The Medicines Co. (a) | | | 65 | |
| | |
| | 101,879 | | | TherapeuticsMD, Inc.^ (a) | | | 264 | |
| | |
| | 1,114 | | | Theravance Biopharma, Inc. (a) | | | 18 | |
| | |
| | 548 | | | Tricida, Inc. (a) | | | 22 | |
| | |
| | 322 | | | Verrica Pharmaceuticals, Inc. (a) | | | 4 | |
| | |
| | 565 | | | Wave Life Sciences Ltd. (a) | | | 15 | |
| | |
| | 667 | | | Xeris Pharmaceuticals, Inc. (a) | | | 8 | |
| | |
| | 1,074 | | | Zogenix, Inc. (a) | | | 51 | |
| | |
| | 504 | | | Zynerba Pharmaceuticals, Inc. | | | 7 | |
| | | | | | | | |
| | | | | | | 2,066 | |
| | | | | | | | |
| |
| | | | Professional Services — 0.94% | |
| | |
| | 1,434 | | | Acacia Research Corp. (a) | | | 4 | |
| | |
| | 1,287 | | | ASGN, Inc. (a) | | | 78 | |
| | |
| | 184 | | | Barrett Business Services, Inc. | | | 15 | |
| | |
| | 248 | | | BG Staffing, Inc. | | | 5 | |
| | |
| | 1,293 | | | CBIZ, Inc. (a) | | | 25 | |
| | |
| | 203 | | | CRA International, Inc. | | | 8 | |
| | |
| | 1,305 | | | Exponent, Inc. | | | 76 | |
| | |
| | 268 | | | Forrester Research, Inc. | | | 13 | |
| | |
| | 249 | | | Franklin Covey Co. (a) | | | 8 | |
| | |
| | 950 | | | FTI Consulting, Inc. (a) | | | 80 | |
| | |
| | 290 | | | GP Strategies Corp. (a) | | | 4 | |
| | |
| | 474 | | | Heidrick & Struggles International, Inc. | | | 14 | |
| | |
| | 565 | | | Huron Consulting Group, Inc. (a) | | | 28 | |
| | |
| | 456 | | | ICF International, Inc. | | | 33 | |
| | |
| | 994 | | | InnerWorkings, Inc. (a) | | | 4 | |
| | |
| | 977 | | | Insperity, Inc. | | | 120 | |
| | |
| | 833 | | | Kelly Services, Inc., Class – A | | | 22 | |
| | |
| | 570 | | | Kforce, Inc. | | | 20 | |
| | |
| | 1,423 | | | Korn Ferry International | | | 57 | |
| | |
| | 452 | | | Mistras Group, Inc. (a) | | | 6 | |
| | |
| | 4,747 | | | Navigant Consulting, Inc. | | | 111 | |
| | |
| | 774 | | | Resources Connections, Inc. | | | 12 | |
See accompanying notes to financial statements.
112
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Professional Services (continued) | |
| | |
| | 7,985 | | | TriNet Group, Inc. (a) | | $ | 542 | |
| | |
| | 983 | | | TrueBlue, Inc. (a) | | | 22 | |
| | |
| | 1,344 | | | Upwork, Inc. (a) | | | 22 | |
| | |
| | 1,008 | | | WageWorks, Inc. (a) | | | 51 | |
| | |
| | 250 | | | Willdan Group, Inc. (a) | | | 9 | |
| | | | | | | | |
| | | | | | | 1,389 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.29% | |
| | |
| | 271 | | | Altisource Portfolio Solutions SA (a) | | | 5 | |
| | |
| | 75 | | | American Realty Investors, Inc. (a) | | | 1 | |
| | |
| | 125 | | | Consolidated-Tomoka Land Co. | | | 7 | |
| | |
| | 2,544 | | | Cushman & Wakefield PLC (a) | | | 45 | |
| | |
| | 1,235 | | | Essential Properties Realty Trust, Inc. | | | 25 | |
| | |
| | 386 | | | eXp World Holdings, Inc. | | | 4 | |
| | |
| | 291 | | | Forestar Group, Inc. (a) | | | 6 | |
| | |
| | 186 | | | FRP Holdings, Inc. (a) | | | 10 | |
| | |
| | 31 | | | Griffin Industrial Realty, Inc. | | | 1 | |
| | |
| | 963 | | | HFF, Inc., Class – A | | | 44 | |
| | |
| | 3,081 | | | Kennedy-Wilson Holdings, Inc. | | | 63 | |
| | |
| | 575 | | | Marcus & Millichap, Inc. (a) | | | 18 | |
| | |
| | 148 | | | Maui Land & Pineapple Co., Inc. (a) | | | 2 | |
| | |
| | 3,658 | | | Newmark Group, Inc., Class – A | | | 33 | |
| | |
| | 255 | | | Rafael Holdings, Inc., Class – B (a) | | | 7 | |
| | |
| | 450 | | | RE/MAX Holdings, Inc., Class – A | | | 14 | |
| | |
| | 10,706 | | | Realogy Holdings Corp. | | | 78 | |
| | |
| | 2,216 | | | Redfin Corp. (a) | | | 40 | |
| | |
| | 851 | | | St. Joe Corp. (a) | | | 15 | |
| | |
| | 136 | | | Stratus Properties, Inc. (a) | | | 4 | |
| | |
| | 503 | | | Tejon Ranch Co. (a) | | | 8 | |
| | |
| | 169 | | | The RMR Group, Inc., Class – A | | | 8 | |
| | |
| | 34 | | | Transcontinental Realty Investors, Inc. (a) | | | 1 | |
| | | | | | | | |
| | | | | | | 439 | |
| | | | | | | | |
| |
| | | | Road & Rail — 0.76% | |
| | |
| | 625 | | | ArcBest Corp. | | | 18 | |
| | |
| | 10,152 | | | Avis Budget Group, Inc. (a) | | | 356 | |
| | |
| | 328 | | | Covenant Transportation Group, Inc., Class – A (a) | | | 5 | |
| | |
| | 1,105 | | | Daseke, Inc. (a) | | | 4 | |
| | |
| | 1,154 | | | Heartland Express, Inc. | | | 21 | |
| | |
| | 1,629 | | | Hertz Global Holdings, Inc. (a) | | | 26 | |
| | |
| | 9,163 | | | Knight-Swift Transportation Holdings, Inc. | | | 301 | |
| | |
| | 965 | | | Marten Transport Ltd. | | | 18 | |
| | |
| | 48 | | | P.A.M. Transportation Services, Inc. (a) | | | 3 | |
| | |
| | 86 | | | Roadrunner Transportation Systems, Inc. | | | 1 | |
| | |
| | 4,721 | | | Ryder System, Inc. | | | 275 | |
| | |
| | 653 | | | Saia, Inc. (a) | | | 42 | |
| | |
| | 194 | | | Universal Truckload Services, Inc. | | | 4 | |
| | |
| | 558 | | | US Xpress Enterprise, Inc., Class – A (a) | | | 3 | |
| | |
| | 1,154 | | | Werner Enterprises, Inc. | | | 36 | |
| | |
| | 843 | | | YRC Worldwide, Inc. (a) | | | 3 | |
| | | | | | | | |
| | | | | | | 1,116 | |
| | | | | | | | |
| |
| | | | Semiconductors & Semiconductor Equipment — 4.73% | |
| | |
| | 671 | | | Adesto Technologies Corp. (a) | | | 5 | |
| | |
| | 960 | | | Advanced Energy Industries, Inc. (a) | | | 54 | |
| | |
| | 5,614 | | | Advanced Micro Devices, Inc. (a) | | | 170 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Semiconductors & Semiconductor Equipment (continued) | |
| | |
| | 502 | | | Alpha & Omega Semiconductor Ltd. (a) | | $ | 5 | |
| | |
| | 5,091 | | | Ambarella, Inc. (a) | | | 225 | |
| | |
| | 2,526 | | | Amkor Technology, Inc. (a) | | | 19 | |
| | |
| | 704 | | | Aquantia Corp. (a) | | | 9 | |
| | |
| | 827 | | | Axcelis Technologies, Inc. (a) | | | 12 | |
| | |
| | 1,088 | | | AXT, Inc. (a) | | | 4 | |
| | |
| | 10,787 | | | Brooks Automation, Inc. | | | 418 | |
| | |
| | 731 | | | Cabot Microelectronics Corp. | | | 80 | |
| | |
| | 566 | | | CEVA, Inc. (a) | | | 14 | |
| | |
| | 1,494 | | | Cirrus Logic, Inc. (a) | | | 65 | |
| | |
| | 1,014 | | | Cohu, Inc. | | | 16 | |
| | |
| | 6,416 | | | Cree, Inc. (a) | | | 360 | |
| | |
| | 6,119 | | | Cypress Semiconductor Corp. | | | 136 | |
| | |
| | 1,034 | | | Diodes, Inc. (a) | | | 38 | |
| | |
| | 528 | | | DSP Group, Inc. (a) | | | 8 | |
| | |
| | 13,968 | | | FormFactor, Inc. (a) | | | 219 | |
| | |
| | 370 | | | GSI Technology, Inc. (a) | | | 3 | |
| | |
| | 571 | | | Ichor Holdings Ltd. (a) | | | 13 | |
| | |
| | 384 | | | Impinj, Inc. (a) | | | 11 | |
| | |
| | 7,625 | | | Inphi Corp. (a) | | | 382 | |
| | |
| | 23,795 | | | Lattice Semiconductor Corp. (a) | | | 347 | |
| | |
| | 18,713 | | | MA-COM Technology Solutions Holdings, Inc. (a) | | | 283 | |
| | |
| | 7,395 | | | Marvell Technology Group Ltd. | | | 176 | |
| | |
| | 3,108 | | | Maxim Integrated Products, Inc. | | | 186 | |
| | |
| | 1,643 | | | MaxLinear, Inc., Class – A (a) | | | 39 | |
| | |
| | 5,393 | | | Monolithic Power Systems, Inc. | | | 732 | |
| | |
| | 585 | | | Nanometrics, Inc. (a) | | | 20 | |
| | |
| | 972 | | | Neophotonics Corp. (a) | | | 4 | |
| | |
| | 124 | | | NVE Corp. | | | 9 | |
| | |
| | 713 | | | PDF Solutions, Inc. (a) | | | 9 | |
| | |
| | 1,642 | | | Photronics, Inc. (a) | | | 13 | |
| | |
| | 709 | | | Power Integrations, Inc. | | | 57 | |
| | |
| | 7,797 | | | Qorvo, Inc. (a) | | | 519 | |
| | |
| | 2,780 | | | Rambus, Inc. (a) | | | 33 | |
| | |
| | 779 | | | Rudolph Technologies, Inc. (a) | | | 22 | |
| | |
| | 15,517 | | | Semtech Corp. (a) | | | 746 | |
| | |
| | 2,956 | | | Silicon Laboratories, Inc. (a) | | | 306 | |
| | |
| | 351 | | | SMART Global Holdings, Inc. (a) | | | 8 | |
| | |
| | 16,753 | | | SunPower Corp.^ (a) | | | 179 | |
| | |
| | 877 | | | Synaptics, Inc. (a) | | | 26 | |
| | |
| | 983 | | | Ultra Clean Holdings, Inc. (a) | | | 14 | |
| | |
| | 3,981 | | | Universal Display Corp. | | | 750 | |
| | |
| | 17,414 | | | Veeco Instruments, Inc. (a) | | | 213 | |
| | |
| | 1,242 | | | Xperi Corp. | | | 26 | |
| | | | | | | | |
| | | | | | | 6,983 | |
| | | | | | | | |
| |
| | | | Software — 6.60% | |
| | |
| | 9,552 | | | 2U, Inc. (a) | | | 360 | |
| | |
| | 2,363 | | | 8x8, Inc. (a) | | | 57 | |
| | |
| | 1,410 | | | A10 Networks, Inc. (a) | | | 10 | |
| | |
| | 2,824 | | | ACI Worldwide, Inc. (a) | | | 97 | |
| | |
| | 444 | | | Agilysys, Inc. (a) | | | 10 | |
| | |
| | 4,800 | | | Alarm.com Holding, Inc. (a) | | | 257 | |
| | |
| | 959 | | | Altair Engineering, Inc., Class – A (a) | | | 39 | |
| | |
| | 603 | | | Amber Road, Inc. (a) | | | 8 | |
See accompanying notes to financial statements.
113
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Software (continued) | |
| | |
| | 763 | | | American Software, Inc., Class – A | | $ | 10 | |
| | |
| | 395 | | | AppFolio, Inc., Class – A (a) | | | 40 | |
| | |
| | 758 | | | Appian Corp. (a) | | | 27 | |
| | |
| | 2,792 | | | Avaya Holdings Corp. (a) | | | 33 | |
| | |
| | 14,780 | | | Benefitfocus, Inc. (a) | | | 401 | |
| | |
| | 1,231 | | | Blackbaud, Inc. | | | 103 | |
| | |
| | 14,520 | | | Blackline, Inc. (a) | | | 777 | |
| | |
| | 1,080 | | | Bottomline Technologies, Inc. (a) | | | 48 | |
| | |
| | 3,594 | | | Box, Inc., Class – A (a) | | | 63 | |
| | |
| | 1,389 | | | Carbon Black, Inc. (a) | | | 23 | |
| | |
| | 664 | | | ChannelAdvisor Corp. (a) | | | 6 | |
| | |
| | 2,285 | | | Cision Ltd. (a) | | | 27 | |
| | |
| | 5,915 | | | Cloudera, Inc. (a) | | | 31 | |
| | |
| | 926 | | | CommVault Systems, Inc. (a) | | | 46 | |
| | |
| | 1,411 | | | Cornerstone OnDemand, Inc. (a) | | | 82 | |
| | |
| | 3,176 | | | Coupa Software, Inc. (a) | | | 402 | |
| | |
| | 288 | | | Digimarc Corp. (a) | | | 13 | |
| | |
| | 1,874 | | | Digital Turbine, Inc. | | | 9 | |
| | |
| | 435 | | | Domo, Inc. (a) | | | 12 | |
| | |
| | 594 | | | Ebix, Inc. | | | 30 | |
| | |
| | 511 | | | eGain Corp. (a) | | | 4 | |
| | |
| | 8,199 | | | Envestnet, Inc. (a) | | | 561 | |
| | |
| | 819 | | | Everbridge, Inc. (a) | | | 73 | |
| | |
| | 7,105 | | | Five9, Inc. (a) | | | 364 | |
| | |
| | 1,013 | | | Forescout Technologies, Inc. (a) | | | 34 | |
| | |
| | 732 | | | GTY Technology Holdings, Inc. | | | 5 | |
| | |
| | 2,493 | | | HubSpot, Inc. (a) | | | 425 | |
| | |
| | 1,238 | | | Ideanomics, Inc. | | | 3 | |
| | |
| | 846 | | | Instructure, Inc. (a) | | | 36 | |
| | |
| | 165 | | | Intelligent Systems Corp. | | | 5 | |
| | |
| | 1,177 | | | J2 Global, Inc. | | | 105 | |
| | |
| | 1,532 | | | LivePerson, Inc. (a) | | | 43 | |
| | |
| | 252 | | | Majesco (a) | | | 2 | |
| | |
| | 216 | | | MicroStrategy, Inc., Class – A (a) | | | 31 | |
| | |
| | 924 | | | Mitek Systems, Inc. (a) | | | 9 | |
| | |
| | 2,394 | | | MobileIron, Inc. (a) | | | 15 | |
| | |
| | 6,673 | | | Model N, Inc. (a) | | | 130 | |
| | |
| | 992 | | | Monotype Imaging Holdings, Inc. | | | 17 | |
| | |
| | 1,610 | | | New Relic, Inc. (a) | | | 139 | |
| | |
| | 24,565 | | | Nuance Communications, Inc. (a) | | | 392 | |
| | |
| | 2,287 | | | Nutanix, Inc., Class – A (a) | | | 59 | |
| | |
| | 823 | | | Onespan, Inc. (a) | | | 12 | |
| | |
| | 6,545 | | | Paylocity Holding Corp. (a) | | | 614 | |
| | |
| | 1,121 | | | Progress Software Corp. | | | 49 | |
| | |
| | 829 | | | PROS Holdings, Inc. (a) | | | 52 | |
| | |
| | 6,721 | | | Q2 Holdings, Inc. (a) | | | 513 | |
| | |
| | 277 | | | QAD, Inc., Class – A | | | 11 | |
| | |
| | 857 | | | Qualys, Inc. (a) | | | 75 | |
| | |
| | 1,202 | | | Rapid7, Inc. (a) | | | 70 | |
| | |
| | 486 | | | Rimini Street, Inc. (a) | | | 3 | |
| | |
| | 1,358 | | | RingCentral, Inc., Class – A (a) | | | 156 | |
| | |
| | 2,145 | | | Sailpoint Technologies Holding, Inc. (a) | | | 43 | |
| | |
| | 210 | | | Secureworks Corp. (a) | | | 3 | |
| | |
| | 207 | | | SharpSpring, Inc. | | | 3 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Software (continued) | |
| | |
| | 4,900 | | | ShotSpotter, Inc. (a) | | $ | 217 | |
| | |
| | 452 | | | SPS Commerce, Inc. (a) | | | 46 | |
| | |
| | 3,595 | | | SS&C Technologies Holdings, Inc. | | | 207 | |
| | |
| | 2,055 | | | SVMK, Inc. (a) | | | 34 | |
| | |
| | 926 | | | Synchronoss Technologies, Inc. (a) | | | 7 | |
| | |
| | 1,086 | | | Telaria, Inc. (a) | | | 8 | |
| | |
| | 874 | | | Telenav, Inc. (a) | | | 7 | |
| | |
| | 926 | | | Tenable Holdings, Inc. (a) | | | 26 | |
| | |
| | 1,161 | | | The Rubicon Project, Inc. (a) | | | 7 | |
| | |
| | 1,130 | | | The Trade Desk, Inc. (a) | | | 257 | |
| | |
| | 52,490 | | | TiVo Corp. | | | 387 | |
| | |
| | 560 | | | Upland Software, Inc. (a) | | | 25 | |
| | |
| | 746 | | | Varonis Systems, Inc. (a) | | | 46 | |
| | |
| | 1,649 | | | Verint Systems, Inc. (a) | | | 89 | |
| | |
| | 1,512 | | | VirnetX Holding Corp. (a) | | | 9 | |
| | |
| | 878 | | | Workiva, Inc. (a) | | | 51 | |
| | |
| | 16,940 | | | Yext, Inc. (a) | | | 340 | |
| | |
| | 1,345 | | | Zix Corp. (a) | | | 12 | |
| | |
| | 10,892 | | | Zscaler, Inc. (a) | | | 835 | |
| | |
| | 2,085 | | | Zuora, Inc., Class – A (a) | | | 32 | |
| | | | | | | | |
| | | | | | | 9,719 | |
| | | | | | | | |
| |
| | | | Specialty Retail — 2.04% | |
| | |
| | 1,705 | | | Aaron’s, Inc. | | | 105 | |
| | |
| | 1,677 | | | Abercrombie & Fitch Co., Class – A | | | 27 | |
| | |
| | 4,078 | | | American Eagle Outfitters, Inc. | | | 69 | |
| | |
| | 156 | | | America’sCar-Mart, Inc. (a) | | | 13 | |
| | |
| | 491 | | | Asbury Automotive Group, Inc. (a) | | | 41 | |
| | |
| | 4,730 | | | Ascena Retail Group, Inc. (a) | | | 3 | |
| | |
| | 1,199 | | | AT Home Group, Inc. (a) | | | 8 | |
| | |
| | 1,127 | | | Barnes & Noble Education, Inc. (a) | | | 4 | |
| | |
| | 1,525 | | | Barnes & Noble, Inc. | | | 10 | |
| | |
| | 3,262 | | | Bed Bath & Beyond, Inc.^ | | | 38 | |
| | |
| | 18,884 | | | Boot Barn Holdings, Inc. (a) | | | 674 | |
| | |
| | 1,028 | | | Caleres, Inc. | | | 20 | |
| | |
| | 829 | | | Camping World Holdings, Inc., Class- A | | | 10 | |
| | |
| | 15,131 | | | Carvana Co. (a) | | | 948 | |
| | |
| | 2,995 | | | Chico’s FAS, Inc. | | | 10 | |
| | |
| | 332 | | | Citi Trends, Inc. | | | 5 | |
| | |
| | 474 | | | Conn’s, Inc. (a) | | | 8 | |
| | |
| | 1,683 | | | Designer Brands, Inc., Class – A | | | 32 | |
| | |
| | 1,702 | | | Express, Inc. (a) | | | 5 | |
| | |
| | 2,411 | | | Floor & Decor Holdings, Inc., Class – A (a) | | | 101 | |
| | |
| | 2,563 | | | GameStop Corp., Class – A | | | 14 | |
| | |
| | 480 | | | Genesco, Inc. (a) | | | 20 | |
| | |
| | 2,314 | | | GNC Holdings, Inc., Class – A^ (a) | | | 3 | |
| | |
| | 467 | | | Group 1 Automotive, Inc. | | | 38 | |
| | |
| | 1,443 | | | Guess?, Inc. | | | 23 | |
| | |
| | 481 | | | Haverty Furniture Companies, Inc. | | | 8 | |
| | |
| | 472 | | | Hibbett Sports, Inc. (a) | | | 9 | |
| | |
| | 999 | | | Hudson Ltd., Class – A (a) | | | 14 | |
| | |
| | 392 | | | J. Jill, Inc. | | | 1 | |
| | |
| | 558 | | | Lithia Motors, Inc. | | | 66 | |
| | |
| | 679 | | | Lumber Liquidators Holdings, Inc. (a) | | | 8 | |
| | |
| | 568 | | | MarineMax, Inc. (a) | | | 9 | |
| | |
| | 2,070 | | | Michaels Companies, Inc. The (a) | | | 18 | |
See accompanying notes to financial statements.
114
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Specialty Retail (continued) | |
| | |
| | 822 | | | Monro Muffler Brake, Inc. | | $ | 70 | |
| | |
| | 769 | | | Murphy USA, Inc. (a) | | | 65 | |
| | |
| | 1,729 | | | National Vision Holdings, Inc. (a) | | | 53 | |
| | |
| | 13,698 | | | Office Depot, Inc. | | | 28 | |
| | |
| | 1,369 | | | Party City Holdco, Inc. (a) | | | 10 | |
| | |
| | 1,223 | | | Rent-A-Center, Inc. (a) | | | 33 | |
| | |
| | 471 | | | Restoration Hardware Co. (a) | | | 54 | |
| | |
| | 675 | | | RTW RetailWinds, Inc. (a) | | | 1 | |
| | |
| | 3,043 | | | Sally Beauty Holdings, Inc. (a) | | | 41 | |
| | |
| | 261 | | | Shoe Carnival, Inc. | | | 7 | |
| | |
| | 1,299 | | | Signet Jewelers Ltd. | | | 23 | |
| | |
| | 799 | | | Sleep Number Corp. (a) | | | 32 | |
| | |
| | 613 | | | Sonic Automotive, Inc., Class – A | | | 14 | |
| | |
| | 1,082 | | | Sportsman’s Warehouse Holdings, Inc. (a) | | | 4 | |
| | |
| | 19,671 | | | Tailored Brands, Inc. | | | 115 | |
| | |
| | 699 | | | The Buckle, Inc. | | | 12 | |
| | |
| | 571 | | | The Cato Corp. | | | 7 | |
| | |
| | 388 | | | The Children’s Place Retail Stores, Inc. | | | 37 | |
| | |
| | 397 | | | The Container Store Group, Inc. (a) | | | 3 | |
| | |
| | 977 | | | Tile Shop Holdings, Inc. | | | 4 | |
| | |
| | 560 | | | Tilly’s, Inc., Class – A | | | 4 | |
| | |
| | 66 | | | Winmark Corp. | | | 11 | |
| | |
| | 484 | | | Zumiez, Inc. (a) | | | 13 | |
| | | | | | | | |
| | | | | | | 3,003 | |
| | | | | | | | |
| |
| | | | Technology Hardware, Storage & Peripherals — 0.19% | |
| | |
| | 2,858 | | | 3D Systems Corp. (a) | | | 26 | |
| | |
| | 165 | | | Astronova, Inc. | | | 4 | |
| | |
| | 749 | | | Avid Technology, Inc. (a) | | | 7 | |
| | |
| | 1,029 | | | Cray, Inc. (a) | | | 36 | |
| | |
| | 1,935 | | | Diebold, Inc. (a) | | | 18 | |
| | |
| | 1,080 | | | Electronics for Imaging, Inc. (a) | | | 40 | |
| | |
| | 784 | | | Immersion Corp. (a) | | | 6 | |
| | |
| | 87 | | | Sonim Technologies, Inc. | | | 1 | |
| | |
| | 1,295 | | | Stratasys Ltd. (a) | | | 38 | |
| | |
| | 4,200 | | | Super Micro Computer, Inc. (a) | | | 81 | |
| | |
| | 1,462 | | | USA Technologies, Inc. (a) | | | 11 | |
| | | | | | | | |
| | | | | | | 268 | |
| | | | | | | | |
| |
| | | | Textiles, Apparel & Luxury Goods — 0.59% | |
| | |
| | 2,511 | | | Capri Holdings Ltd. (a) | | | 87 | |
| | |
| | 399 | | | Centric Brands, Inc. | | | 2 | |
| | |
| | 1,677 | | | Crocs, Inc. (a) | | | 33 | |
| | |
| | 261 | | | Culp, Inc. | | | 5 | |
| | |
| | 2,636 | | | Deckers Outdoor Corp. (a) | | | 463 | |
| | |
| | 150 | | | Delta Apparel, Inc. | | | 3 | |
| | |
| | 1,178 | | | Fossil Group, Inc. (a) | | | 14 | |
| | |
| | 1,139 | | | G-III Apparel Group Ltd. (a) | | | 34 | |
| | |
| | 1,079 | | | Kontoor Brands, Inc. (a) | | | 30 | |
| | |
| | 396 | | | Movado Group, Inc. | | | 11 | |
| | |
| | 420 | | | Oxford Industries, Inc. | | | 32 | |
| | |
| | 167 | | | Rocky Brands, Inc. | | | 5 | |
| | |
| | 2,142 | | | Steven Madden Ltd. | | | 72 | |
| | |
| | 250 | | | Superior Uniform Group, Inc. | | | 4 | |
| | |
| | 373 | | | Unifi, Inc. (a) | | | 7 | |
| | |
| | 581 | | | Vera Bradley, Inc. (a) | | | 7 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Textiles, Apparel & Luxury Goods (continued) | |
| | |
| | 75 | | | Vince Holding Corp. | | $ | 1 | |
| | |
| | 2,271 | | | Wolverine World Wide, Inc. | | | 63 | |
| | | | | | | | |
| | | | | | | 873 | |
| | | | | | | | |
| |
| | | | Thrifts & Mortgage Finance — 0.86% | |
| | |
| | 1,458 | | | Axos Financial, Inc. (a) | | | 40 | |
| | |
| | 94 | | | Bank7 Corp. (a) | | | 2 | |
| | |
| | 355 | | | Bankfinancial Corp. | | | 5 | |
| | |
| | 625 | | | Bridgewater Bancshares, Inc. (a) | | | 7 | |
| | |
| | 3,329 | | | Capitol Federal Financial, Inc. | | | 45 | |
| | |
| | 1,331 | | | Columbia Financial, Inc. (a) | | | 20 | |
| | |
| | 799 | | | Dime Community Bancshares | | | 15 | |
| | |
| | 169 | | | Entegra Financial Corp. (a) | | | 5 | |
| | |
| | 274 | | | ESSA Bancorp, Inc. | | | 4 | |
| | |
| | 2,429 | | | Essent Group Ltd. (a) | | | 114 | |
| | |
| | 228 | | | Federal Agricultural Mortgage Corp., Class – C | | | 17 | |
| | |
| | 79 | | | First Capital, Inc. | | | 4 | |
| | |
| | 482 | | | First Defiance Financial Corp. | | | 14 | |
| | |
| | 734 | | | Flagstar Bancorp, Inc. | | | 24 | |
| | |
| | 97 | | | FS BanCorp, Inc. | | | 5 | |
| | |
| | 95 | | | Greene County BanCorp, Inc. | | | 3 | |
| | |
| | 35 | | | Hingham Institution For Savings | | | 7 | |
| | |
| | 211 | | | Home BanCorp, Inc. | | | 8 | |
| | |
| | 613 | | | HomeStreet, Inc. (a) | | | 18 | |
| | |
| | 2,160 | | | Kearny Financial Corp. of Maryland | | | 29 | |
| | |
| | 515 | | | Luther Burbank Corp. | | | 6 | |
| | |
| | 195 | | | Malvern BanCorp, Inc. (a) | | | 4 | |
| | |
| | 423 | | | Merchants BanCorp/IN | | | 7 | |
| | |
| | 1,208 | | | Meridian Bancorp, Inc. | | | 22 | |
| | |
| | 918 | | | Meta Financial Group, Inc. | | | 26 | |
| | |
| | 119 | | | MMA Capital Holdings, Inc. | | | 4 | |
| | |
| | 1,916 | | | Mr Cooper Group, Inc. (a) | | | 15 | |
| | |
| | 1,640 | | | NMI Holdings, Inc. (a) | | | 46 | |
| | |
| | 1,112 | | | Northfield BanCorp, Inc. | | | 17 | |
| | |
| | 2,529 | | | Northwest Bancshares, Inc. | | | 45 | |
| | |
| | 1,270 | | | OceanFirst Financial Corp. | | | 32 | |
| | |
| | 3,384 | | | Ocwen Financial Corp. (a) | | | 7 | |
| | |
| | 298 | | | OP Bancorp | | | 3 | |
| | |
| | 993 | | | Oritani Financial Corp. | | | 18 | |
| | |
| | 388 | | | PCSB Financial Corp. | | | 8 | |
| | |
| | 209 | | | PDL Community Bancorp (a) | | | 3 | |
| | |
| | 626 | | | PennyMac Financial Services, Inc. | | | 14 | |
| | |
| | 95 | | | Provident Bancorp, Inc. (a) | | | 3 | |
| | |
| | 142 | | | Provident Financial Holdings | | | 3 | |
| | |
| | 1,556 | | | Provident Financial Services, Inc. | | | 38 | |
| | |
| | 248 | | | Prudential Bancorp, Inc. | | | 5 | |
| | |
| | 5,378 | | | Radian Group, Inc. | | | 122 | |
| | |
| | 531 | | | Riverview BanCorp, Inc. | | | 5 | |
| | |
| | 199 | | | Southern Missouri BanCorp, Inc. | | | 7 | |
| | |
| | 552 | | | Sterling Bancorp, Inc. | | | 6 | |
| | |
| | 195 | | | Territorial Bancorp, Inc. | | | 6 | |
| | |
| | 186 | | | Timberland Bancorp, Inc./WA | | | 6 | |
| | |
| | 2,395 | | | TrustCo Bank Corp NY | | | 19 | |
| | |
| | 1,236 | | | United Community Financial Corp. | | | 12 | |
| | |
| | 1,245 | | | United Financial Bancorp, Inc. | | | 18 | |
| | |
| | 698 | | | Walker & Dunlop, Inc. | | | 37 | |
See accompanying notes to financial statements.
115
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | Thrifts & Mortgage Finance (continued) | |
| | |
| | 2,042 | | | Washington Federal, Inc. | | $ | 70 | |
| | |
| | 639 | | | Waterstone Financial, Inc. | | | 11 | |
| | |
| | 603 | | | Western New England Bancorp, Inc. | | | 6 | |
| | |
| | 5,469 | | | WSFS Financial Corp. | | | 225 | |
| | | | | | | | |
| | | | | | | 1,262 | |
| | | | | | | | |
| |
| | | | Tobacco — 0.26% | |
| | |
| | 3,201 | | | 22nd Century Group, Inc. (a) | | | 7 | |
| | |
| | 229 | | | Pyxus International, Inc. (a) | | | 3 | |
| | |
| | 212 | | | Turning Point Brands, Inc. | | | 10 | |
| | |
| | 5,496 | | | Universal Corp. | | | 335 | |
| | |
| | 2,662 | | | Vector Group Ltd. | | | 26 | |
| | | | | | | | |
| | | | | | | 381 | |
| | | | | | | | |
| |
| | | | Trading Companies & Distributors — 1.69% | |
| | |
| | 1,341 | | | Aircastle Ltd. | | | 29 | |
| | |
| | 967 | | | Applied Industrial Technologies, Inc. | | | 59 | |
| | |
| | 10,630 | | | Beacon Roofing Supply, Inc. (a) | | | 391 | |
| | |
| | 225 | | | Bluelinx Holdings, Inc. (a) | | | 4 | |
| | |
| | 15,084 | | | BMC Stock Holdings, Inc. (a) | | | 321 | |
| | |
| | 413 | | | CAI International, Inc. (a) | | | 10 | |
| | |
| | 6,504 | | | DXP Enterprises, Inc. (a) | | | 246 | |
| | |
| | 113 | | | EVI Industries, Inc. | | | 4 | |
| | |
| | 387 | | | Foundation Building Materials, Inc. (a) | | | 7 | |
| | |
| | 925 | | | GATX Corp. | | | 73 | |
| | |
| | 307 | | | General Finance Corp. (a) | | | 3 | |
| | |
| | 795 | | | GMS, Inc. (a) | | | 17 | |
| | |
| | 791 | | | H&E Equipment Services, Inc. | | | 23 | |
| | |
| | 607 | | | Herc Holdings, Inc. (a) | | | 28 | |
| | |
| | 697 | | | Kaman Corp. | | | 44 | |
| | |
| | 158 | | | Lawson Products, Inc. (a) | | | 6 | |
| | |
| | 11,708 | | | MRC Global, Inc. (a) | | | 200 | |
| | |
| | 2,730 | | | NOW, Inc. (a) | | | 40 | |
| | |
| | 121 | | | Rush Enterprises, Inc. | | | 4 | |
| | |
| | 753 | | | Rush Enterprises, Inc., Class – A | | | 27 | |
| | |
| | 8,120 | | | SiteOne Landscape Supply, Inc. (a) | | | 564 | |
| | |
| | 318 | | | Systemax, Inc. | | | 7 | |
| | |
| | 707 | | | Textainer Group Holdings Ltd. (a) | | | 7 | |
| | |
| | 476 | | | Titan Machinery, Inc. (a) | | | 10 | |
| | |
| | 165 | | | Transcat, Inc. (a) | | | 4 | |
| | |
| | 1,428 | | | Triton International Ltd. | | | 46 | |
| | |
| | 324 | | | Veritiv Corp. (a) | | | 6 | |
| | |
| | 1,891 | | | Watsco, Inc. | | | 310 | |
| | |
| | 84 | | | Willis Lease Finance Corp. (a) | | | 5 | |
| | | | | | | | |
| | | | | | | 2,495 | |
| | | | | | | | |
| |
| | | | Transportation Infrastructure — 0.14% | |
| | |
| | 4,934 | | | Macquarie Infrastructure Corp. | | | 200 | |
| | | | | | | | |
| |
| | | | Water Utilities — 0.17% | |
| | |
| | 924 | | | American States Water Co. | | | 70 | |
| | |
| | 302 | | | AquaVenture Holdings Ltd. (a) | | | 6 | |
| | |
| | 201 | | | Artesian Resources Corp. | | | 7 | |
| | |
| | 622 | | | Cadiz, Inc. (a) | | | 7 | |
| | |
| | 1,212 | | | California Water Service Group | | | 61 | |
| | |
| | 306 | | | Connecticut Water Service, Inc. | | | 21 | |
| | |
| | 344 | | | Consolidated Water Co. Ltd. | | | 5 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Water Utilities (continued) | |
| | |
| | 259 | | | Global Water Resources, Inc. | | $ | 3 | |
| | |
| | 403 | | | Middlesex Water Co. | | | 24 | |
| | |
| | 428 | | | Pure Cycle Corp. (a) | | | 5 | |
| | |
| | 661 | | | SJW Corp. | | | 40 | |
| | |
| | 334 | | | The York Water Co. | | | 12 | |
| | | | | | | | |
| | | | | | | 261 | |
| | | | | | | | |
| |
| | | | Wireless Telecommunication Services — 0.15% | |
| | |
| | 1,092 | | | Boingo Wireless, Inc. (a) | | | 20 | |
| | |
| | 38,230 | | | Gogo, Inc.^ (a) | | | 151 | |
| | |
| | 1,208 | | | Shenandoah Telecommunications Co. | | | 47 | |
| | |
| | 437 | | | Spok Holdings, Inc. | | | 7 | |
| | | | | | | | |
| | | | | | | 225 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 135,990 | |
| | | | | | | | |
| |
| | | | Contingent Rights — 0.00% | |
| |
| | | | Chemicals — 0.00% | |
| | |
| | 755 | | | Schulman, Inc. CVR (a) | | | — | |
| | | | | | | | |
| |
| | | | Electrical Equipment — 0.00% | |
| | |
| | 751 | | | Babcock & Wilcox Enterprises, Inc. (a) | | | — | |
| | | | | | | | |
| |
| | | | Metals & Mining — 0.00% | |
| | |
| | 247,963 | | | Tahoe Resources, Inc. CVR (a) | | | — | |
| | | | | | | | |
| |
| | | | Road & Rail — 0.00% | |
| | |
| | 1,337 | | | Hertz Global Holdings, Inc. (a) | | | 3 | |
| | | | | | | | |
| | | | Total Contingent Rights | | | 3 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | U.S. Treasury Obligation — 0.01% | |
| | |
| $ | 15 | | | U.S. Treasury Bill, 2.05%, 9/12/19 (b)(c) | | | 15 | |
| | | | | | | | |
| | | | Total U.S. Treasury Obligation | | | 15 | |
| | | | | | | | |
| | |
| Shares | | | | | | |
| |
| | | | Investment Companies — 7.31% | |
| | |
| | 899,520 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (d) | | | 900 | |
| | |
| | 275,734 | | | State Street Institutional Liquid Reserves Fund, Trust Class, 2.40% (d) | | | 276 | |
| | |
| | 9,603,414 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (d) | | | 9,603 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 10,779 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| |
| | | | Repurchase Agreement — 0.85% | |
| | |
| $ | 1,253 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,253,307 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $1,278,111)^^ | | | 1,253 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 1,253 | |
| | | | | | | | |
| | | | Total Investments
(cost $124,896) — 100.42% | | | 148,040 | |
| | | | Liabilities in excess of other
assets — (0.42)% | | | (625 | ) |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 147,415 | |
| | | | | | | | |
See accompanying notes to financial statements.
116
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $2,102 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | The 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 June 30, 2019. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The Institutional Small
Capitalization-Mid Capitalization
Equity Portfolio | | Advisory
Research, Inc. | | | Frontier
Capital
Management
Company,
LLC | | | Mellon
Investments
Corporation* | | | Parametric
Portfolio
Associates,
LLC | | | Pzena
Investment
Management,
LLC | | | HC
Capital
Solutions | | | Total | |
Common Stocks | | | 21.09 | % | | | 31.29 | % | | | 34.31 | % | | | — | | | | 5.56 | % | | | — | | | | 92.25 | % |
| | | | | | | |
Contingent Rights | | | — | | | | 0.00 | % | | | 0.00 | % | | | — | | | | — | | | | — | | | | 0.00 | % |
| | | | | | | |
U.S. Treasury Obligation | | | — | | | | — | | | | 0.01 | % | | | — | | | | — | | | | — | | | | 0.01 | % |
| | | | | | | |
Investment Companies | | | 0.40 | % | | | 0.12 | % | | | 0.24 | % | | | 3.81 | % | | | — | | | | 2.74 | % | | | 7.31 | % |
| | | | | | | |
Repurchase Agreement | | | 0.51 | % | | | 0.18 | % | | | 0.16 | % | | | — | | | | — | | | | — | | | | 0.85 | % |
| | | | | | | |
Other Assets (Liabilities) | | | -0.95 | % | | | 0.28 | % | | | -0.26 | % | | | 0.32 | % | | | 0.19 | % | | | 0.00 | % | | | -0.42 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 21.05 | % | | | 31.87 | % | | | 34.46 | % | | | 4.13 | % | | | 5.75 | % | | | 2.74 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount (000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
Russell 2000 Mini Index Future | | 74 | | | 9/20/19 | | | $ | 5,798 | | | $ | 144 | |
| | | | | | | | | | | | | | |
| | | | | $ | 5,798 | | | $ | 144 | |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 144 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 144 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
117
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks — 92.99% | |
| |
| | | | Equity Real Estate Investment Trusts — 88.95% | |
| | |
| | 19,626 | | | Acadia Realty Trust | | $ | 537 | |
| | |
| | 24,991 | | | Agree Realty Corp. | | | 1,601 | |
| | |
| | 40,085 | | | Alexandria Real Estate Equities, Inc. | | | 5,656 | |
| | |
| | 59,296 | | | American Assets Trust, Inc. | | | 2,794 | |
| | |
| | 22,287 | | | American Tower Corp. | | | 4,557 | |
| | |
| | 53,611 | | | Americold Realty Trust | | | 1,738 | |
| | |
| | 34,042 | | | Boston Properties, Inc. | | | 4,391 | |
| | |
| | 140,173 | | | Brixmor Property Group, Inc. | | | 2,506 | |
| | |
| | 40,414 | | | Camden Property Trust | | | 4,219 | |
| | |
| | 31,644 | | | CareTrust REIT, Inc. | | | 752 | |
| | |
| | 39,191 | | | Columbia Property Trust, Inc. | | | 813 | |
| | |
| | 45,538 | | | Community Healthcare Trust, Inc. | | | 1,795 | |
| | |
| | 11,745 | | | Coresite Realty Corp. | | | 1,353 | |
| | |
| | 39,963 | | | Corporate Office Properties Trust | | | 1,054 | |
| | |
| | 19,564 | | | Crown Castle International Corp. | | | 2,550 | |
| | |
| | 84,560 | | | Douglas Emmett, Inc. | | | 3,369 | |
| | |
| | 11,998 | | | Equinix, Inc. | | | 6,050 | |
| | |
| | 26,826 | | | Equity Lifestyle Properties, Inc. | | | 3,255 | |
| | |
| | 15,189 | | | Essex Property Trust, Inc. | | | 4,434 | |
| | |
| | 29,395 | | | Extra Space Storage, Inc. | | | 3,119 | |
| | |
| | 191,391 | | | HCP, Inc. | | | 6,121 | |
| | |
| | 79,691 | | | Hudson Pacific Property, Inc. | | | 2,651 | |
| | |
| | 14,445 | | | JBG SMITH Properties | | | 568 | |
| | |
| | 55,375 | | | Nexpoint Residential Trust, Inc. | | | 2,293 | |
| | |
| | 86,579 | | | Prologis, Inc. | | | 6,935 | |
| | |
| | 9,477 | | | PS Business Parks, Inc. | | | 1,597 | |
| | |
| | 24,343 | | | Public Storage | | | 5,798 | |
| | |
| | 32,610 | | | Retail Value, Inc. | | | 1,135 | |
| | |
| | 91,359 | | | Rexford Industrial Realty, Inc. | | | 3,688 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Equity Real Estate Investment Trusts (continued) | |
| | |
| | 40,805 | | | Simon Property Group, Inc. | | $ | 6,519 | |
| | |
| | 96,058 | | | Store Capital Corp. | | | 3,188 | |
| | |
| | 28,015 | | | Sun Communities, Inc. | | | 3,591 | |
| | |
| | 86,610 | | | UDR, Inc. | | | 3,888 | |
| | |
| | 26,062 | | | VICI Properties, Inc. | | | 574 | |
| | |
| | 81,927 | | | Xenia Hotels & Resorts, Inc. | | | 1,708 | |
| | | | | | | | |
| | | | | | | 106,797 | |
| | | | | | | | |
| |
| | | | Hotels, Restaurants & Leisure — 3.43% | |
| | |
| | 25,364 | | | Hyatt Hotels Corp., Class – A | | | 1,931 | |
| | |
| | 5,854 | | | Marriott International, Inc., Class – A | | | 821 | |
| | |
| | 6,146 | | | Vail Resorts, Inc. | | | 1,372 | |
| | | | | | | | |
| | | | | | | 4,124 | |
| | | | | | | | |
| |
| | | | Real Estate Management & Development — 0.61% | |
| | |
| | 10,294 | | | Essential Properties Realty Trust, Inc. | | | 206 | |
| | |
| | 25,689 | | | Kennedy-Wilson Holdings, Inc. | | | 529 | |
| | | | | | | | |
| | | | | | | 735 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 111,656 | |
| | | | | | | | |
| | | | Investment Companies —6.80% | |
| | |
| | 950,506 | | | DWS Government & Agency Securities Portfolio, Government Cash Institutional Shares, 2.19% (a) | | | 951 | |
| | |
| | 7,212,199 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (a) | | | 7,212 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 8,163 | |
| | | | | | | | |
| | | | Total Investments (cost $91,638) — 99.79% | | $ | 119,819 | |
| | | | Other assets in excess of liabilities — 0.21% | | | 250 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 120,069 | |
| | | | | | | | |
| (a) | The rate disclosed is the rate in effect on June 30, 2019. |
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | |
The Real Estate Securities Portfolio | | Parametric
Portfolio
Associates,
LLC | | | Wellington
Management
Company,
LLP | | | HC Capital
Solutions | | | Total | |
Common Stocks | | | — | | | | 92.99 | % | | | — | | | | 92.99 | % |
| | | | |
Investment Companies | | | 6.00 | % | | | 0.79 | % | | | 0.01 | % | | | 6.80 | % |
| | | | |
Other Assets (Liabilities) | | | 0.06 | % | | | 0.15 | % | | | 0.00 | % | | | 0.21 | % |
| | | | | | | | | | | | | | | | |
Total Net Assets | | | 6.06 | % | | | 93.93 | % | | | 0.01 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
See accompanying notes to financial statements.
118
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
Dow Jones U.S. Real Estate Index Future | | 3 | | | 9/20/19 | | | $ | 104 | | | $ | (2 | ) |
| | | | | | | | | | | | | | |
| | | | | $ | 104 | | | $ | (2 | ) |
| | | | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | — | |
| | Total Unrealized Depreciation | | | | (2 | ) |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | (2 | ) |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
119
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 82.02% | | | | |
| |
| | | | Australia — 4.98% | |
| | |
| | 67,367 | | | Alumina Ltd. (Metals & Mining) | | $ | 111 | |
| | |
| | 89,971 | | | BHP Billiton Ltd. (Metals & Mining) | | | 2,614 | |
| | |
| | 64,146 | | | BHP Group PLC (Metals & Mining) | | | 1,640 | |
| | |
| | 29,442 | | | Boral Ltd. (Construction Materials) | | | 106 | |
| | |
| | 8,861 | | | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | | | 154 | |
| | |
| | 45,437 | | | Fortescue Metals Group Ltd. (Metals & Mining) | | | 289 | |
| | |
| | 46,458 | | | Incitec Pivot Ltd. (Chemicals) | | | 111 | |
| | |
| | 19,960 | | | Newcrest Mining Ltd. (Metals & Mining) | | | 448 | |
| | |
| | 10,623 | | | Orica Ltd. (Chemicals) | | | 152 | |
| | |
| | 53,606 | | | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) | | | 276 | |
| | |
| | 11,976 | | | Rio Tinto Ltd. (Metals & Mining) | | | 877 | |
| | |
| | 46,646 | | | Santos Ltd. (Oil, Gas & Consumable Fuels) | | | 233 | |
| | |
| | 145,391 | | | South32 Ltd. (Metals & Mining) | | | 326 | |
| | |
| | 23,409 | | | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | | | 600 | |
| | | | | | | | |
| | | | | | | 7,937 | |
| | | | | | | | |
| |
| | | | Austria — 0.21% | |
| | |
| | 5,022 | | | OMV AG (Oil, Gas & Consumable Fuels) | | | 245 | |
| | |
| | 3,040 | | | Voestalpine AG (Metals & Mining) | | | 94 | |
| | | | | | | | |
| | | | | | | 339 | |
| | | | | | | | |
| |
| | | | Belgium — 0.24% | |
| | |
| | 2,117 | | | Solvay SA (Chemicals) | | | 220 | |
| | |
| | 5,312 | | | Umicore SA (Chemicals) (a) | | | 170 | |
| | | | | | | | |
| | | | | | | 390 | |
| | | | | | | | |
| |
| | | | Bermuda — 0.07% | |
| | |
| | 106,000 | | | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) (a) | | | 92 | |
| | |
| | 29,000 | | | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | | | 26 | |
| | | | | | | | |
| | | | | | | 118 | |
| | | | | | | | |
| |
| | | | Brazil — 1.56% | |
| | |
| | 13,200 | | | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | | | 57 | |
| | |
| | 4,513 | | | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | | | 54 | |
| | |
| | 96,612 | | | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | | | 755 | |
| | |
| | 21,203 | | | Suzano Papel e Celulose SA (Paper & Forest Products) | | | 181 | |
| | |
| | 28,406 | | | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | | | 149 | |
| | |
| | 96,176 | | | Vale SA (Metals & Mining) | | | 1,299 | |
| | | | | | | | |
| | | | | | | 2,495 | |
| | | | | | | | |
| |
| | | | Canada — 6.95% | |
| | |
| | 5,800 | | | Agnico-Eagle Mines Ltd. (Metals & Mining) | | | 297 | |
| | |
| | 5,500 | | | AltaGas Ltd. (Gas Utilities)^ | | | 83 | |
| | |
| | 11,600 | | | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | | | 57 | |
| | |
| | 47,421 | | | Barrick Gold Corp. (Metals & Mining) | | | 748 | |
| | |
| | 13,100 | | | Cameco Corp. (Oil, Gas & Consumable Fuels) | | | 140 | |
| | |
| | 32,169 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | | | 867 | |
| | |
| | 4,000 | | | CCL Industries, Inc., Class – B (Containers & Packaging) (a) | | | 196 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Canada (continued) | |
| | |
| | 24,614 | | | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | | $ | 217 | |
| | |
| | 17,900 | | | Crescent Point Energy Corp. (Oil, Gas & Consumable Fuels) | | | 59 | |
| | |
| | 32,902 | | | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | | | 1,188 | |
| | |
| | 50,438 | | | Encana Corp. (Oil, Gas & Consumable Fuels) | | | 259 | |
| | |
| | 19,560 | | | First Quantum Minerals Ltd. (Metals & Mining) | | | 186 | |
| | |
| | 4,540 | | | Franco-Nevada Corp. (Metals & Mining) | | | 385 | |
| | |
| | 11,575 | | | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 110 | |
| | |
| | 8,760 | | | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | | | 243 | |
| | |
| | 11,900 | | | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | | | 185 | |
| | |
| | 2,393 | | | International Petroleum Corp. (Oil, Gas & Consumable Fuels) (b) | | | 11 | |
| | |
| | 6,000 | | | Keyera Corp. (Oil, Gas & Consumable Fuels) (a) | | | 154 | |
| | |
| | 34,600 | | | Kinross Gold Corp. (Metals & Mining) (b) | | | 134 | |
| | |
| | 2,500 | | | Methanex Corp. (Chemicals) | | | 114 | |
| | |
| | 17,283 | | | Nutrien Ltd. (Chemicals) | | | 924 | |
| | |
| | 14,571 | | | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels) | | | 542 | |
| | |
| | 5,500 | | | Peyto Exploration & Development Corp. (Oil, Gas & Consumable Fuels) (a) | | | 16 | |
| | |
| | 6,900 | | | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels) (a) | | | 97 | |
| | |
| | 8,000 | | | Seven Generations Energy (Oil, Gas & Consumable Fuels) (b) | | | 39 | |
| | |
| | 48,322 | | | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,509 | |
| | |
| | 25,000 | | | TC Energy Corp. (Oil, Gas & Consumable Fuels) | | | 1,239 | |
| | |
| | 14,497 | | | Teck Cominco Ltd., Class – B (Metals & Mining) | | | 335 | |
| | |
| | 7,000 | | | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) | | | 89 | |
| | |
| | 20,206 | | | Turquoise Hill Resources Ltd. (Metals & Mining) (b) | | | 25 | |
| | |
| | 42,247 | | | Uranium Participation Corp. (Capital Markets) (b)(c) | | | 136 | |
| | |
| | 3,800 | | | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels)^ | | | 83 | |
| | |
| | 1,900 | | | West Fraser Timber Co. Ltd. (Paper & Forest Products) | | | 87 | |
| | |
| | 11,151 | | | Wheaton Precious Metals Corp. (Metals & Mining) | | | 270 | |
| | |
| | 22,400 | | | Yamana Gold, Inc. (Metals & Mining) | | | 57 | |
| | | | | | | | |
| | | | | | | 11,081 | |
| | | | | | | | |
| |
| | | | Chile — 0.25% | |
| | |
| | 52,152 | | | Empresas CMPC SA (Paper & Forest Products) | | | 143 | |
| | |
| | 23,634 | | | Empresas Copec SA (Oil, Gas & Consumable Fuels) | | | 259 | |
| | | | | | | | |
| | | | | | | 402 | |
| | | | | | | | |
| |
| | | | China — 1.59% | |
| | |
| | 62,000 | | | Aluminum Corporation of China Ltd., H Shares (Metals & Mining) (b) | | | 22 | |
| | |
| | 36,200 | | | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | | | 227 | |
| | |
| | 68,000 | | | China Coal Energy Co. Ltd., Class – H (Oil, Gas & Consumable Fuels) | | | 28 | |
See accompanying notes to financial statements.
120
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | China (continued) | |
| | |
| | 64,000 | | | China National Building Material Co. Ltd., H Shares (Construction Materials) (a) | | $ | 56 | |
| | |
| | 61,000 | | | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | | | 61 | |
| | |
| | 741,869 | | | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | | | 505 | |
| | |
| | 119,300 | | | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | | | 250 | |
| | |
| | 520,302 | | | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | | | 887 | |
| | |
| | 23,000 | | | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | | | 31 | |
| | |
| | 612,729 | | | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | | | 338 | |
| | |
| | 68,000 | | | Sinopec Shanghai Petrochemical Co. Ltd., H Shares (Chemicals) | | | 27 | |
| | |
| | 62,000 | | | Yanzhou Coal Mining Co., H Shares (Oil, Gas & Consumable Fuels) | | | 58 | |
| | |
| | 129,000 | | | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | | | 52 | |
| | | | | | | | |
| | | | | | | 2,542 | |
| | | | | | | | |
| |
| | | | Colombia — 0.15% | |
| | |
| | 10,130 | | | Cementos Argos SA (Construction Materials) | | | 24 | |
| | |
| | 185,100 | | | Ecopetrol SA (Oil, Gas & Consumable Fuels) | | | 169 | |
| | |
| | 7,931 | | | Grupo Argos SA (Construction Materials) | | | 42 | |
| | | | | | | | |
| | | | | | | 235 | |
| | | | | | | | |
| |
| | | | Denmark — 0.36% | |
| | |
| | 2,810 | | | Christian Hansen Holding A/S (Chemicals) (a) | | | 265 | |
| | |
| | 6,529 | | | Novozymes A/S, B Shares (Chemicals) | | | 304 | |
| | | | | | | | |
| | | | | | | 569 | |
| | | | | | | | |
| |
| | | | Finland — 0.66% | |
| | |
| | 13,100 | | | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | | | 445 | |
| | |
| | 15,295 | | | Stora Enso Oyj, R Shares (Paper & Forest Products) | | | 180 | |
| | |
| | 15,894 | | | UPM-Kymmene Oyj (Paper & Forest Products) | | | 423 | |
| | | | | | | | |
| | | | | | | 1,048 | |
| | | | | | | | |
| |
| | | | France — 3.76% | |
| | |
| | 12,936 | | | Air Liquide SA (Chemicals) | | | 1,809 | |
| | |
| | 2,270 | | | Arkema SA (Chemicals) | | | 211 | |
| | |
| | 732 | | | Imerys SA (Construction Materials) | | | 39 | |
| | |
| | 70,337 | | | Total SA (Oil, Gas & Consumable Fuels) | | | 3,944 | |
| | | | | | | | |
| | | | | | | 6,003 | |
| | | | | | | | |
| |
| | | | Germany — 2.10% | |
| | |
| | 27,411 | | | BASF SE (Chemicals) | | | 1,995 | |
| | |
| | 1,908 | | | Covestro AG (Chemicals) (a) | | | 97 | |
| | |
| | 4,947 | | | Evonik Industries AG (Chemicals) (a) | | | 144 | |
| | |
| | 4,109 | | | HeidelbergCement AG (Construction Materials) | | | 332 | |
| | |
| | 5,182 | | | K+S AG – Registered (Chemicals) | | | 96 | |
| | |
| | 2,773 | | | Lanxess AG (Chemicals) | | | 165 | |
| | |
| | 3,649 | | | Symrise AG (Chemicals) (a) | | | 351 | |
| | |
| | 11,451 | | | ThyssenKrupp AG (Metals & Mining) | | | 167 | |
| | | | | | | | |
| | | | | | | 3,347 | |
| | | | | | | | |
| |
| | | | Greece — 0.00% | |
| | |
| | 152 | | | Titan Cement Co. SA (Construction Materials) | | | 3 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hungary — 0.07% | |
| | |
| | 9,490 | | | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | | $ | 105 | |
| | | | | | | | |
| |
| | | | India — 1.04% | |
| | |
| | 42,596 | | | Reliance Industries Ltd., GDR (Oil, Gas & Consumable Fuels) (a) (b) | | | 1,540 | |
| | |
| | 6,988 | | | Tata Steel Ltd., Registered Shares, GDR (Metals & Mining) | | | 51 | |
| | |
| | 6,609 | | | Vedanta Ltd., ADR (Metals & Mining) | | | 67 | |
| | | | | | | | |
| | | | | | | 1,658 | |
| | | | | | | | |
| |
| | | | Indonesia — 0.20% | |
| | |
| | 476,300 | | | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | | | 46 | |
| | |
| | 39,900 | | | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | | | 56 | |
| | |
| | 92,600 | | | PT Semen Gresik (Persero) Tbk (Construction Materials) | | | 76 | |
| | |
| | 72,100 | | | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | | | 144 | |
| | | | | | | | |
| | | | | | | 322 | |
| | | | | | | | |
| |
| | | | Ireland (Republic of) — 0.52% | |
| | |
| | 25,249 | | | CRH PLC (Construction Materials) (a) | | | 825 | |
| | | | | | | | |
| |
| | | | Israel — 0.04% | |
| | |
| | 13,052 | | | Israel Chemicals Ltd. (Chemicals) (a) | | | 69 | |
| | | | | | | | |
| |
| | | | Italy — 1.18% | |
| | |
| | 82,441 | | | Eni SpA (Oil, Gas & Consumable Fuels) | | | 1,370 | |
| | |
| | 20,071 | | | Saipem SpA (Energy Equipment & Services) (b) | | | 100 | |
| | |
| | 81,569 | | | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | | | 406 | |
| | | | | | | | |
| | | | | | | 1,876 | |
| | | | | | | | |
| |
| | | | Japan — 3.53% | |
| | |
| | 3,600 | | | Air Water, Inc. (Chemicals) | | | 62 | |
| | |
| | 34,300 | | | Asahi Kasei Corp. (Chemicals) | | | 366 | |
| | |
| | 7,200 | | | Daicel Corp. (Chemicals) | | | 64 | |
| | |
| | 2,100 | | | Hitachi Chemical Co. Ltd. (Chemicals) | | | 57 | |
| | |
| | 5,000 | | | Hitachi Metals Ltd. (Metals & Mining) | | | 57 | |
| | |
| | 5,442 | | | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) (a) | | | 165 | |
| | |
| | 28,400 | | | INPEX Corp. (Oil, Gas & Consumable Fuels) | | | 257 | |
| | |
| | 13,400 | | | JFE Holdings, Inc. (Metals & Mining) | | | 197 | |
| | |
| | 4,900 | | | JSR Corp. (Chemicals) | | | 78 | |
| | |
| | 90,294 | | | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 450 | |
| | |
| | 1,300 | | | Kaneka Corp. (Chemicals) | | | 49 | |
| | |
| | 6,200 | | | Kansai Paint Co. Ltd. (Chemicals) | | | 130 | |
| | |
| | 7,200 | | | Kobe Steel Ltd. (Metals & Mining) | | | 47 | |
| | |
| | 10,300 | | | Kuraray Co. Ltd. (Chemicals) | | | 123 | |
| | |
| | 1,100 | | | Maruichi Steel Tube Ltd. (Metals & Mining) | | | 31 | |
| | |
| | 35,500 | | | Mitsubishi Chemical Holdings Corp. (Chemicals) | | | 249 | |
| | |
| | 4,600 | | | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | | | 62 | |
| | |
| | 2,800 | | | Mitsubishi Materials Corp. (Metals & Mining) | | | 80 | |
| | |
| | 5,100 | | | Mitsui Chemicals, Inc. (Chemicals) | | | 127 | |
| | |
| | 4,800 | | | Nippon Paint Holdings Co. Ltd. (Chemicals) | | | 187 | |
| | |
| | 20,800 | | | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) (a) | | | 358 | |
| | |
| | 3,100 | | | Nissan Chemical Industries Ltd. (Chemicals) | | | 140 | |
| | |
| | 4,000 | | | Nitto Denko Corp. (Chemicals) | | | 198 | |
See accompanying notes to financial statements.
121
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 22,700 | | | Oji Paper Co. Ltd. (Paper & Forest Products) | | $ | 132 | |
| | |
| | 10,515 | | | Shin-Etsu Chemical Co. Ltd. (Chemicals) | | | 983 | |
| | |
| | 40,700 | | | Sumitomo Chemical Co. Ltd. (Chemicals) | | | 190 | |
| | |
| | 6,200 | | | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | | | 186 | |
| | |
| | 3,400 | | | Taiheiyo Cement Corp. (Construction Materials) | | | 103 | |
| | |
| | 2,100 | | | Taiyo Nippon Sanso Corp. (Chemicals) | | | 45 | |
| | |
| | 4,900 | | | Teijin Ltd. (Chemicals) | | | 84 | |
| | |
| | 36,900 | | | Toray Industries, Inc. (Chemicals) | | | 280 | |
| | |
| | 4,500 | | | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | | | 89 | |
| | | | | | | | |
| | | | | | | 5,626 | |
| | | | | | | | |
| |
| | | | Jersey — 0.84% | |
| | |
| | 371,194 | | | Glencore International PLC (Metals & Mining) (a) | | | 1,285 | |
| | |
| | 9,585 | | | Petrofac Ltd. (Energy Equipment & Services) | | | 52 | |
| | | | | | | | |
| | | | | | | 1,337 | |
| | | | | | | | |
| |
| | | | Luxembourg — 0.35% | |
| | |
| | 18,203 | | | ArcelorMittal (Metals & Mining) | | | 325 | |
| | |
| | 17,204 | | | Tenaris SA (Energy Equipment & Services) | | | 226 | |
| | | | | | | | |
| | | | | | | 551 | |
| | | | | | | | |
| |
| | | | Malaysia — 0.14% | |
| | |
| | 74,200 | | | Petronas Chemicals Group Berhad (Chemicals) | | | 151 | |
| | |
| | 10,100 | | | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | | | 62 | |
| | |
| | 147,800 | | | SapuraKencana Petroleum Berhad (Energy Equipment & Services) | | | 11 | |
| | | | | | | | |
| | | | | | | 224 | |
| | | | | | | | |
| |
| | | | Mexico — 0.39% | |
| | |
| | 499,141 | | | CEMEX SAB de CV (Construction Materials) | | | 210 | |
| | |
| | 112,034 | | | Grupo Mexico SAB de CV, Series B (Metals & Mining) | | | 298 | |
| | |
| | 3,534 | | | Industrias Penoles SAB de CV (Metals & Mining) | | | 46 | |
| | |
| | 32,820 | | | Mexichem SAB de CV (Chemicals) | | | 69 | |
| | | | | | | | |
| | | | | | | 623 | |
| | | | | | | | |
| |
| | | | Netherlands — 1.44% | |
| | |
| | 6,705 | | | Akzo Nobel N.V. (Chemicals) | | | 630 | |
| | |
| | 1,585 | | | Core Laboratories N.V. (Energy Equipment & Services) | | | 83 | |
| | |
| | 5,683 | | | Koninklijke DSM N.V. (Chemicals) | | | 701 | |
| | |
| | 2,326 | | | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | | | 107 | |
| | |
| | 9,006 | | | LyondellBasell Industries N.V., Class – A (Chemicals) | | | 776 | |
| | | | | | | | |
| | | | | | | 2,297 | |
| | | | | | | | |
| |
| | | | New Zealand — 0.03% | |
| | |
| | 16,332 | | | Fletcher Building Ltd. (Construction Materials) | | | 53 | |
| | | | | | | | |
| |
| | | | Norway — 0.65% | |
| | |
| | 33,694 | | | Equinor ASA (Oil, Gas & Consumable Fuels) | | | 668 | |
| | |
| | 39,781 | | | Norsk Hydro ASA (Metals & Mining) | | | 143 | |
| | |
| | 4,523 | | | Yara International ASA (Chemicals) | | | 220 | |
| | | | | | | | |
| | | | | | | 1,031 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Papua New Guinea — 0.13% | |
| | |
| | 42,677 | | | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | | $ | 213 | |
| | | | | | | | |
| |
| | | | Peru — 0.05% | |
| | |
| | 4,900 | | | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | | | 82 | |
| | | | | | | | |
| |
| | | | Poland — 0.40% | |
| | |
| | 5,478 | | | Grupa Lotos SA (Oil, Gas & Consumable Fuels) | | | 124 | |
| | |
| | 4,519 | | | KGHM Polska Miedz SA (Metals & Mining) (b) | | | 126 | |
| | |
| | 11,875 | | | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | | | 287 | |
| | |
| | 70,939 | | | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | | | 101 | |
| | | | | | | | |
| | | | | | | 638 | |
| | | | | | | | |
| |
| | | | Portugal — 0.16% | |
| | |
| | 17,082 | | | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) (a) | | | 263 | |
| | | | | | | | |
| |
| | | | Qatar — 0.04% | |
| | |
| | 11,233 | | | Qatar Gas Transport Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 71 | |
| | | | | | | | |
| |
| | | | Russia — 3.05% | |
| | |
| | 70,520 | | | ALROSA AO (Metals & Mining) (a) | | | 96 | |
| | |
| | 193,831 | | | Gazprom OAO, ADR (Oil, Gas & Consumable Fuels) | | | 1,422 | |
| | |
| | 14,011 | | | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | | | 1,184 | |
| | |
| | 16,218 | | | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | | | 366 | |
| | |
| | 3,120 | | | Novatek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | | | 663 | |
| | |
| | 1,523 | | | Phosagro OAO, GDR (Chemicals) | | | 20 | |
| | |
| | 39,111 | | | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | | | 257 | |
| | |
| | 5,366 | | | Severstal, Registered Shares, GDR (Metals & Mining) | | | 90 | |
| | |
| | 47,939 | | | Surgutneftegas, ADR (Oil, Gas & Consumable Fuels) | | | 197 | |
| | |
| | 7,610 | | | Tatneft PJSC, ADR (Oil, Gas & Consumable Fuels) | | | 563 | |
| | | | | | | | |
| | | | | | | 4,858 | |
| | | | | | | | |
| |
| | | | South Africa — 0.81% | |
| | |
| | 1,516 | | | Anglo Platinum Ltd. (Metals & Mining) | | | 90 | |
| | |
| | 14,977 | | | AngloGold Ashanti Ltd. (Metals & Mining) | | | 268 | |
| | |
| | 8,860 | | | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) (a) | | | 109 | |
| | |
| | 26,554 | | | Gold Fields Ltd. (Metals & Mining) | | | 144 | |
| | |
| | 15,281 | | | Impala Platinum Holdings Ltd. (Metals & Mining) (b) | | | 76 | |
| | |
| | 3,677 | | | Mondi Ltd. (Paper & Forest Products) | | | 83 | |
| | |
| | 17,739 | | | Sappi Ltd. (Paper & Forest Products) | | | 69 | |
| | |
| | 18,250 | | | Sasol Ltd. (Chemicals) | | | 454 | |
| | | | | | | | |
| | | | | | | 1,293 | |
| | | | | | | | |
| |
| | | | South Korea — 1.25% | |
| | |
| | 2,006 | | | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | | | 89 | |
| | |
| | 3,043 | | | Hanwha Chemical Corp. (Chemicals) | | | 60 | |
| | |
| | 515 | | | Honam Petrochemical Corp. (Chemicals) | | | 113 | |
| | |
| | 2,444 | | | Hyundai Steel Co. (Metals & Mining) | | | 89 | |
| | |
| | 270 | | | Korea Zinc Co. (Metals & Mining) | | | 111 | |
See accompanying notes to financial statements.
122
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | South Korea (continued) | |
| | |
| | 454 | | | Kumho Petro Chemical Co. Ltd. (Chemicals) | | $ | 38 | |
| | |
| | 1,620 | | | LG Chem Ltd. (Chemicals) | | | 498 | |
| | |
| | 278 | | | OCI Co. Ltd. (Chemicals) | | | 23 | |
| | |
| | 2,338 | | | POSCO (Metals & Mining) | | | 496 | |
| | |
| | 2,500 | | | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 345 | |
| | |
| | 1,794 | | | S-Oil Corp. (Oil, Gas & Consumable Fuels) | | | 130 | |
| | | | | | | | |
| | | | | | | 1,992 | |
| | | | | | | | |
| |
| | | | Spain — 0.36% | |
| | |
| | 36,707 | | | Repsol SA (Oil, Gas & Consumable Fuels) | | | 576 | |
| | | | | | | | |
| |
| | | | Sweden — 0.25% | |
| | |
| | 8,047 | | | Boliden AB (Metals & Mining) | | | 206 | |
| | |
| | 6,194 | | | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) | | | 193 | |
| | | | | | | | |
| | | | | | | 399 | |
| | | | | | | | |
| |
| | | | Switzerland — 1.31% | |
| | |
| | 227 | | | EMS-Chemie Holding AG, Registered Shares (Chemicals) | | | 147 | |
| | |
| | 254 | | | Givaudan SA (Chemicals) | | | 717 | |
| | |
| | 12,443 | | | LafargeHolcim Ltd., Registered Shares (Construction Materials) (a) | | | 609 | |
| | |
| | 3,649 | | | Sika AG, Registered Shares (Chemicals) | | | 624 | |
| | | | | | | | |
| | | | | | | 2,097 | |
| | | | | | | | |
| |
| | | | Taiwan — 1.45% | |
| | |
| | 75,082 | | | Asia Cement Corp. (Construction Materials) | | | 115 | |
| | |
| | 457,376 | | | China Steel Corp. (Metals & Mining) | | | 368 | |
| | |
| | 125,000 | | | Formosa Chemicals & Fibre Corp. (Chemicals) | | | 415 | |
| | |
| | 49,000 | | | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | | | 175 | |
| | |
| | 157,160 | | | Formosa Plastics Corp. (Chemicals) | | | 580 | |
| | |
| | 179,010 | | | Nan Ya Plastics Corp. (Chemicals) | | | 453 | |
| | |
| | 133,300 | | | Taiwan Cement Corp. (Construction Materials) | | | 198 | |
| | |
| | 5,000 | | | Taiwan Fertilizer Co. Ltd. (Chemicals) | | | 8 | |
| | | | | | | | |
| | | | | | | 2,312 | |
| | | | | | | | |
| |
| | | | Thailand — 1.05% | |
| | |
| | 49,700 | | | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | | | 24 | |
| | |
| | 44,800 | | | Energy Absolute Public Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 81 | |
| | |
| | 18,700 | | | Indorama Ventures PCL (Chemicals) | | | 29 | |
| | |
| | 579,800 | | | IRPC PCL (Oil, Gas & Consumable Fuels) | | | 95 | |
| | |
| | 78,955 | | | PTT Chemical Public Co. Ltd. (Chemicals) | | | 165 | |
| | |
| | 63,804 | | | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 282 | |
| | |
| | 437,900 | | | PTT PCL (Oil, Gas & Consumable Fuels) | | | 697 | |
| | |
| | 14,500 | | | Siam Cement PCL (Construction Materials) | | | 223 | |
| | |
| | 32,700 | | | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 71 | |
| | | | | | | | |
| | | | | | | 1,667 | |
| | | | | | | | |
| |
| | | | Turkey — 0.08% | |
| | |
| | 29,811 | | | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | | | 41 | |
| | |
| | 4,144 | | | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | | | 82 | |
| | | | | | | | |
| | | | | | | 123 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United Kingdom — 12.23% | |
| | |
| | 29,944 | | | Amcor Ltd. (Containers & Packaging) | | $ | 341 | |
| | |
| | 43,506 | | | Anglo American PLC (Metals & Mining) | | | 1,243 | |
| | |
| | 11,867 | | | Antofagasta PLC (Metals & Mining) | | | 140 | |
| | |
| | 593,098 | | | BP PLC (Oil, Gas & Consumable Fuels) | | | 4,131 | |
| | |
| | 4,202 | | | Croda International PLC (Chemicals) | | | 273 | |
| | |
| | 5,904 | | | Fresnillo PLC (Metals & Mining) | | | 65 | |
| | |
| | 5,905 | | | Johnson Matthey PLC (Chemicals) | | | 250 | |
| | |
| | 7,302 | | | Linde PLC (Chemicals) | | | 1,466 | |
| | |
| | 10,407 | | | Mondi PLC (Paper & Forest Products) | | | 237 | |
| | |
| | 38,592 | | | Rio Tinto PLC (Metals & Mining) | | | 2,388 | |
| | |
| | 139,113 | | | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | | | 4,540 | |
| | |
| | 122,051 | | | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | | | 3,998 | |
| | |
| | 8,235 | | | TechnipFMC PLC (Energy Equipment & Services) | | | 212 | |
| | |
| | 8,456 | | | TechnipFMC PLC (Energy Equipment & Services) | | | 220 | |
| | | | | | | | |
| | | | | | | 19,504 | |
| | | | | | | | |
| |
| | | | United States — 26.10% | |
| | |
| | 5,416 | | | Air Products & Chemicals, Inc. (Chemicals) | | | 1,226 | |
| | |
| | 2,689 | | | Albemarle Corp. (Chemicals) | | | 189 | |
| | |
| | 14,860 | | | Anadarko Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,049 | |
| | |
| | 10,372 | | | Apache Corp. (Oil, Gas & Consumable Fuels) | | | 300 | |
| | |
| | 2,411 | | | Ashland Global Holdings, Inc. (Chemicals) | | | 193 | |
| | |
| | 2,221 | | | Avery Dennison Corp. (Containers & Packaging) | | | 257 | |
| | |
| | 8,536 | | | Axalta Coating Systems Ltd. (Chemicals) (b) | | | 254 | |
| | |
| | 10,049 | | | Baker Hughes, Inc. (Energy Equipment & Services) | | | 248 | |
| | |
| | 8,298 | | | Ball Corp. (Containers & Packaging) | | | 581 | |
| | |
| | 12,701 | | | Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 292 | |
| | |
| | 3,557 | | | Celanese Corp., Series A (Chemicals) | | | 383 | |
| | |
| | 6,026 | | | CF Industries Holdings, Inc. (Chemicals) | | | 281 | |
| | |
| | 36,882 | | | Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 4,591 | |
| | |
| | 3,197 | | | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 190 | |
| | |
| | 3,867 | | | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 399 | |
| | |
| | 33,183 | | | ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 2,024 | |
| | |
| | 3,537 | | | Continental Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 149 | |
| | |
| | 19,018 | | | Corteva, Inc. (Chemicals) | | | 562 | |
| | |
| | 3,977 | | | Crown Holdings, Inc. (Containers & Packaging) (b) | | | 243 | |
| | |
| | 12,709 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 362 | |
| | |
| | 1,998 | | | Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 218 | |
| | |
| | 19,300 | | | Dow, Inc. (Chemicals) | | | 952 | |
| | |
| | 19,018 | | | DuPont de Nemours, Inc. (Chemicals) | | | 1,429 | |
| | |
| | 3,737 | | | Eastman Chemical Co. (Chemicals) | | | 291 | |
| | |
| | 6,766 | | | Ecolab, Inc. (Chemicals) | | | 1,337 | |
| | |
| | 15,653 | | | EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,458 | |
| | |
| | 6,689 | | | EQT Corp. (Oil, Gas & Consumable Fuels) | | | 106 | |
See accompanying notes to financial statements.
123
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 5,248 | | | Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | $ | 103 | |
| | |
| | 51,258 | | | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 3,928 | |
| | |
| | 3,612 | | | FMC Corp. (Chemicals) | | | 300 | |
| | |
| | 32,566 | | | Freeport-McMoRan Copper & Gold, Inc. (Metals & Mining) | | | 378 | |
| | |
| | 23,106 | | | Halliburton Co. (Energy Equipment & Services) | | | 525 | |
| | |
| | 4,202 | | | Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 213 | |
| | |
| | 7,761 | | | Hess Corp. (Oil, Gas & Consumable Fuels) | | | 493 | |
| | |
| | 4,365 | | | HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 202 | |
| | |
| | 2,080 | | | International Flavors & Fragrances, Inc. (Chemicals) | | | 302 | |
| | |
| | 10,140 | | | International Paper Co. (Containers & Packaging) | | | 439 | |
| | |
| | 51,254 | | | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 1,070 | |
| | |
| | 3,097 | | | Livent Corp. (Chemicals) (b) | | | 21 | |
| | |
| | 23,091 | | | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 328 | |
| | |
| | 20,498 | | | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,145 | |
| | |
| | 1,450 | | | Martin Marietta Materials, Inc. (Construction Materials) | | | 334 | |
| | |
| | 6,266 | | | Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 154 | |
| | |
| | 10,359 | | | National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 230 | |
| | |
| | 20,994 | | | Newmont Mining Corp. (Metals & Mining) | | | 807 | |
| | |
| | 11,060 | | | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 248 | |
| | |
| | 8,290 | | | Nucor Corp. (Metals & Mining) | | | 457 | |
| | |
| | 20,675 | | | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,040 | |
| | |
| | 5,717 | | | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 393 | |
| | |
| | 2,282 | | | Packaging Corporation of America (Containers & Packaging) | | | 218 | |
| | |
| | 5,440 | | | Parsley Energy, Inc., Class – A (Oil, Gas & Consumable Fuels) (b) | | | 103 | |
| | |
| | 12,731 | | | Phillips 66 (Oil, Gas & Consumable Fuels) | | | 1,191 | |
| | |
| | 4,514 | | | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 695 | |
| | |
| | 3,287 | | | Plains GP Holdings LP, Class – A (Oil, Gas & Consumable Fuels) | | | 82 | |
| | |
| | 7,029 | | | PPG Industries, Inc. (Chemicals) | | | 820 | |
| | |
| | 6,355 | | | Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 44 | |
| | |
| | 37,603 | | | Schlumberger Ltd. (Energy Equipment & Services) | | | 1,494 | |
| | |
| | 5,503 | | | Sealed Air Corp. (Containers & Packaging) | | | 235 | |
| | |
| | 2,360 | | | Southern Copper Corp. (Metals & Mining) | | | 92 | |
| | |
| | 4,146 | | | Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 163 | |
| | |
| | 8,030 | | | The Mosaic Co. (Chemicals) | | | 201 | |
| | |
| | 2,041 | | | The Sherwin-Williams Co. (Chemicals) | | | 935 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 19,610 | | | The Williams Companies, Inc. (Oil, Gas & Consumable Fuels) | | $ | 550 | |
| | |
| | 12,813 | | | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 1,097 | |
| | |
| | 6,421 | | | Valvoline, Inc. (Chemicals) | | | 125 | |
| | |
| | 3,405 | | | Vulcan Materials Co. (Construction Materials) | | | 467 | |
| | |
| | 2,772 | | | W.R. Grace & Co. (Chemicals) | | | 211 | |
| | |
| | 5,914 | | | WestRock Co. (Containers & Packaging) | | | 216 | |
| | | | | | | | |
| | | | | | | 41,613 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 130,807 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 0.94% | | | | |
| |
| | | | Brazil — 0.71% | |
| | |
| | 3,900 | | | Braskem SA – Preferred, Class – A (Chemicals) (b) | | | 36 | |
| | |
| | 27,900 | | | Gerdau SA – Preferred (Metals & Mining) | | | 110 | |
| | |
| | 93,200 | | | Klabin SA – Preferred (Containers & Packaging) | | | 74 | |
| | |
| | 127,375 | | | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | | | 909 | |
| | | | | | | | |
| | | | | | | 1,129 | |
| | | | | | | | |
| |
| | | | Chile — 0.10% | |
| | |
| | 5,104 | | | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | | | 159 | |
| | | | | | | | |
| |
| | | | Germany — 0.04% | |
| | |
| | 1,785 | | | Fuchs Petrolub AG – Preferred (Chemicals) | | | 70 | |
| | | | | | | | |
| |
| | | | Russia — 0.09% | |
| | |
| | 52 | | | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) | | | 136 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 1,494 | |
| | | | | | | | |
| | |
| | | | Right — 0.01% | | | | |
| |
| | | | Spain — 0.01% | |
| | |
| | 36,707 | | | Repsol SA (Oil, Gas & Consumable Fuels) (b) | | | 20 | |
| | | | | | | | |
| | | | Total Right | | | 20 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| | |
| | | | U.S. Treasury Obligation — 0.38% | | | | |
| | |
| $ | 600 | | | U.S. Treasury Bill, 1.87%,
7/25/19 (c)(d)(e) | | | 599 | |
| | | | | | | | |
| | | | Total U.S. Treasury Obligation | | | 599 | |
| | | | | | | | |
| | |
| Shares | | | | | | |
| | |
| | | | Exchange-Traded Fund — 0.02% | | | | |
| | |
| | 215 | | | SPDR Gold Trust (c) | | | 29 | |
| | | | | | | | |
| | | | Total Exchange-Traded Fund | | | 29 | |
| | | | | | | | |
| | |
| | | | Investment Companies — 11.74% | | | | |
| | |
| | 35,610 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (f) | | | 36 | |
| | |
| | 18,695,358 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (f) | | | 18,695 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 18,731 | |
| | | | | | | | |
See accompanying notes to financial statements.
124
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Value
(000) | |
| | | | Repurchase Agreements —2.98% | | | | |
| | |
| $ | 1,200 | | | Bank of America Corp., 2.48%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,200,248 collateralized by U.S. Treasury Bond, 4.25%, 5/15/39, fair value $1,224,090) (c) | | $ | 1,200 | |
| | |
| | 1,200 | | | BNP Paribas, 2.48%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,200,248 collateralized by U.S. Treasury Obligations, 0.00% – 8.75%, 7/18/19 – 8/15/46, fair value $1,224,029) (c) | | | 1,200 | |
| | |
| | 1,200 | | | Deutsche Bank Securities, Inc., 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,200,250 collateralized by U.S. Treasury Note, 2.50%, 2/15/22, fair value $1,224,108) (c) | | | 1,200 | |
| | |
| | 50 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $49,615 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $50,597)^^ | | | 50 | |
| | |
| | 1,100 | | | NatWest Markets PLC, 2.49%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,100,228 collateralized by U.S. Treasury Note, 2.25%, 3/31/21, fair value $1,122,121) (c) | | | 1,100 | |
| | | | | | | | |
| | | | Total Repurchase Agreements | | | 4,750 | |
| | | | | | | | |
| | | | Total Investments
(cost $124,078) — 98.09% | | $ | 156,430 | |
| | | | Other assets in excess of liabilities — 1.91% | | | 3,039 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 159,469 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
Portfolio of Investments is presented on a consolidated basis. See Note 2.N. in the Notes to Financial Statements.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $164 (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 June 30, 2019. |
| (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) | Representsnon-income producing security. |
| (c) | All or a portion of these investments are held by the wholly-owned subsidiaries of the Portfolio. See Note 2.N. in the Notes to Financial Statements. |
| (d) | The rate disclosed represents effective yield at purchase. |
| (e) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
| (f) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | |
The Commodity Returns Strategy Portfolio | | Mellon
Investments
Corporation* | | | Parametric
Portfolio
Associates, LLC | | | Wellington
Management
Company, LLP | | | HC Capital
Solutions | | | Total | |
Common Stocks | | | 81.94 | % | | | — | | | | 0.08 | % | | | — | | | | 82.02 | % |
| | | | | |
Preferred Stocks | | | 0.94 | % | | | — | | | | — | | | | — | | | | 0.94 | % |
| | | | | |
Right | | | 0.01 | % | | | — | | | | — | | | | — | | | | 0.01 | % |
| | | | | |
U.S. Treasury Obligation | | | — | | | | — | | | | 0.38 | % | | | — | | | | 0.38 | % |
| | | | | |
Exchange-Traded Fund | | | — | | | | — | | | | 0.02 | % | | | — | | | | 0.02 | % |
| | | | | |
Investment Companies | | | 0.19 | % | | | 10.22 | % | | | — | | | | 1.33 | % | | | 11.74 | % |
| | | | | |
Repurchase Agreements | | | 0.04 | % | | | — | | | | 2.94 | % | | | — | | | | 2.98 | % |
| | | | | |
Other Assets | | | 1.07 | % | | | 0.80 | % | | | 0.04 | % | | | 0.00 | % | | | 1.91 | % |
| | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 84.19 | % | | | 11.02 | % | | | 3.46 | % | | | 1.33 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
See accompanying notes to financial statements.
125
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — June 30, 2019
The following tables reflect the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
Brent Crude Future (a) | | 7 | | | 7/31/19 | | | $ | 453 | | | $ | 12 | |
| | | | |
Canadian Dollar Future | | 75 | | | 9/17/19 | | | | 5,742 | | | | 100 | |
| | | | |
Cattle Feeder Future (a) | | 1 | | | 8/29/19 | | | | 68 | | | | — | |
| | | | |
Cocoa Future (a) | | 1 | | | 9/13/19 | | | | 24 | | | | — | |
| | | | |
Coffee ‘C’ Future (a) | | 1 | | | 9/18/19 | | | | 41 | | | | 2 | |
| | | | |
Corn Future (a) | | 20 | | | 9/13/19 | | | | 425 | | | | (19 | ) |
| | | | |
Cotton No.2 Future (a) | | 1 | | | 12/6/19 | | | | 33 | | | | (1 | ) |
| | | | |
Electrolytic Copper Future (a) | | 4 | | | 9/16/19 | | | | 600 | | | | 11 | |
| | | | |
E-Mini S&P 500 Future | | 72 | | | 9/20/19 | | | | 10,599 | | | | 166 | |
| | | | |
Gas Oil Future (a) | | 2 | | | 8/12/19 | | | | 120 | | | | 1 | |
| | | | |
Gasoline RBOB Future (a) | | 1 | | | 8/30/19 | | | | 78 | | | | 9 | |
| | | | |
Gold 100 Oz Future (a) | | 9 | | | 8/28/19 | | | | 1,272 | | | | 122 | |
| | | | |
Hard Red Winter Wheat Future (a) | | 8 | | | 9/13/19 | | | | 185 | | | | (7 | ) |
| | | | |
Lean Hogs Future (a) | | 4 | | | 8/14/19 | | | | 122 | | | | (27 | ) |
| | | | |
Live Cattle Future (a) | | 4 | | | 8/30/19 | | | | 167 | | | | (6 | ) |
| | | | |
LME Lead Future (a) | | 1 | | | 9/16/19 | | | | 48 | | | | — | |
| | | | |
LME Lead Future (a) | | 1 | | | 12/16/19 | | | | 48 | | | | (1 | ) |
| | | | |
MSCI EAFE Index Future | | 24 | | | 9/20/19 | | | | 2,308 | | | | 65 | |
| | | | |
MSCI Emerging Markets Index Future | | 19 | | | 9/20/19 | | | | 1,001 | | | | 37 | |
| | | | |
Natural Gas Future (a) | | 3 | | | 8/28/19 | | | | 68 | | | | 1 | |
| | | | |
NY Harbor ULSD Future (a) | | 2 | | | 7/31/19 | | | | 163 | | | | 2 | |
| | | | |
NYMEX WTI Crude Future (a) | | 9 | | | 7/22/19 | | | | 526 | | | | 42 | |
| | | | |
Primary Aluminum Future (a) | | 11 | | | 9/16/19 | | | | 495 | | | | (18 | ) |
| | | | |
Primary Nickel Future (a) | | 1 | | | 9/16/19 | | | | 76 | | | | 2 | |
| | | | |
S&P/Toronto Stock Exchange 60 Index Future | | 37 | | | 9/19/19 | | | | 5,525 | | | | 23 | |
| | | | |
Soybean Future (a) | | 3 | | | 8/14/19 | | | | 136 | | | | 1 | |
| | | | |
Soybean Meal Future (a) | | 1 | | | 12/13/19 | | | | 32 | | | | (1 | ) |
| | | | |
Sugar #11 (World) Future (a) | | 4 | | | 9/30/19 | | | | 57 | | | | — | |
| | | | | | | | | | | | | | |
| | | | | $ | 30,412 | | | $ | 516 | |
| | | | | | | | | | | | | | |
Futures Contracts Sold^
| | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
Lean Hogs Future (a) | | 1 | | 12/13/19 | | $ | 29 | | | $ | 6 | |
| | | | |
Natural Gas Future (a) | | 2 | | 3/27/20 | | | 48 | | | | — | |
| | | | |
Soybean Future (a) | | 1 | | 11/14/19 | | | 46 | | | | 2 | |
| | | | | | | | | | | | |
| | | | $ | 123 | | | $ | 8 | |
| | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 604 | |
| | Total Unrealized Depreciation | | | | (80 | ) |
| | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 524 | |
| | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
126
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (concluded) — June 30, 2019
Total Return Swap Agreements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay/Receive (b) | | Financing
Rate | | | Description | | Counterparty | | Expiration
Date | | | Payment
Frequency | | | Notional
Amount
(000) | | | Value
(000) | | | Upfront
Premiums
Paid/(Received)
(000) | | | Unrealized
Appreciation/
(Depreciation)
(000) | |
Receive | | | 0.08 | % | | Bloomberg Silver Subindex (a) | | Goldman Sachs International | | | 10/31/19 | | | | Monthly | | | $ | 44 | | | $ | 2 | | | $ | — | | | $ | 2 | |
| | | | | | | | | |
Receive | | | 0.35 | % | | Bloomberg Soybean Meal Subindex (a) | | Barclays Bank PLC | | | 8/30/19 | | | | Monthly | | | | 48 | | | | (1 | ) | | | — | | | | (1 | ) |
| | | | | | | | | |
Receive | | | 0.14 | % | | S&P GSCI Grains Index (a) | | Barclays Bank PLC | | | 8/30/19 | | | | Monthly | | | | 5 | | | | — | | | | — | | | | — | |
| | | | | | | | | |
Receive | | | 0.10 | % | | S&P GSCI Grains Index (a) | | Goldman Sachs International | | | 11/29/19 | | | | Monthly | | | | 81 | | | | 1 | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | $ | 2 | | | $ | — | | | $ | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commodity Forward Swap Agreements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pay/Receive (b) | | Underlying
Instruments | | Counterparty | | Expiration
Date | | | Exercise
Price | | | Notional
Amount
(000) | | | Value
(000) | | | Upfront
Premiums
Paid/(Received)
(000) | | | Unrealized
Appreciation/
(Depreciation)
(000) | |
Receive | | Gold (a) | | Goldman Sachs International | | | 7/31/19 | | | $ | 1,343.01 | | | $ | 15 | | | $ | 1 | | | $ | — | | | $ | 1 | |
| | | | | | | | |
Receive | | Silver (a) | | Goldman Sachs International | | | 12/2/19 | | | | 14.71 | | | | 32 | | | | 2 | | | | — | | | | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | $ | 3 | | | $ | — | | | $ | 3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | Total swap agreements at value (assets) | | | $ | 6 | |
| | | | | | | Total swap agreements at value (liabilities) | | | | (1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | Net swap agreements at value | | | $ | 5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
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.N. in the Notes to Financial Statements. |
| (b) | Receive represents that the Portfolio receives payments for any positive return on the underlying reference. The Portfolio makes payments for any negative return on such underlying reference. Pay represents that the Portfolio receives payments for any negative return on the underlying reference. The Portfolio makes payments for any positive return on such underlying reference. |
See accompanying notes to financial statements.
127
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 94.21% | | | | |
| | |
| | | | Australia — 2.57% | | | | |
| | |
| | 2,368 | | | AGL Energy Ltd. (Multi-Utilities) | | $ | 33 | |
| | |
| | 11,323 | | | Alumina Ltd. (Metals & Mining) | | | 19 | |
| | |
| | 10,608 | | | AMP Ltd. (Diversified Financial Services) | | | 16 | |
| | |
| | 4,261 | | | APA Group (Gas Utilities) | | | 32 | |
| | |
| | 2,075 | | | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | | | 44 | |
| | |
| | 699 | | | ASX Ltd. (Capital Markets) | | | 40 | |
| | |
| | 8,342 | | | Aurizon Holdings Ltd. (Road & Rail) | | | 32 | |
| | |
| | 6,595 | | | AusNet Services (Electric Utilities) | | | 9 | |
| | |
| | 10,608 | | | Australia & New Zealand Banking Group Ltd. (Banks) | | | 211 | |
| | |
| | 1,451 | | | Bank of Queensland Ltd. (Banks) | | | 10 | |
| | |
| | 1,760 | | | Bendigo & Adelaide Bank Ltd. (Banks) | | | 14 | |
| | |
| | 10,915 | | | BHP Billiton Ltd. (Metals & Mining) | | | 318 | |
| | |
| | 7,865 | | | BHP Group PLC (Metals & Mining) | | | 202 | |
| | |
| | 1,927 | | | BlueScope Steel Ltd. (Metals & Mining) | | | 16 | |
| | |
| | 4,233 | | | Boral Ltd. (Construction Materials) | | | 15 | |
| | |
| | 5,756 | | | Brambles Ltd. (Commercial Services & Supplies) | | | 52 | |
| | |
| | 902 | | | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | | | 16 | |
| | |
| | 1,986 | | | Challenger Ltd. (Diversified Financial Services) | | | 9 | |
| | |
| | 351 | | | CIMIC Group Ltd. (Construction & Engineering) | | | 11 | |
| | |
| | 2,419 | | | Coca-Cola Amatil Ltd. (Beverages) | | | 17 | |
| | |
| | 209 | | | Cochlear Ltd. (Health Care Equipment & Supplies) | | | 30 | |
| | |
| | 4,095 | | | Coles Group Ltd. (Food & Staples Retailing) (a) | | | 38 | |
| | |
| | 6,554 | | | Commonwealth Bank of Australia (Banks) | | | 381 | |
| | |
| | 1,764 | | | Computershare Ltd. (IT Services) | | | 20 | |
| | |
| | 1,344 | | | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | | | 12 | |
| | |
| | 1,680 | | | CSL Ltd. (Biotechnology) | | | 254 | |
| | |
| | 3,942 | | | Dexus Property Group (Equity Real Estate Investment Trusts) | | | 36 | |
| | |
| | 201 | | | Flight Centre Ltd. (Hotels, Restaurants & Leisure) | | | 6 | |
| | |
| | 5,732 | | | Fortescue Metals Group Ltd. (Metals & Mining) | | | 36 | |
| | |
| | 5,895 | | | Goodman Group (Equity Real Estate Investment Trusts) | | | 63 | |
| | |
| | 6,518 | | | GPT Group (Equity Real Estate Investment Trusts) | | | 28 | |
| | |
| | 1,917 | | | Harvey Norman Holdings Ltd. (Multiline Retail) | | | 5 | |
| | |
| | 5,798 | | | Incitec Pivot Ltd. (Chemicals) | | | 14 | |
| | |
| | 8,346 | | | Insurance Australia Group Ltd. (Insurance) | | | 49 | |
| | |
| | 2,036 | | | Lend Lease Group Ltd. (Real Estate Management & Development) | | | 19 | |
| | |
| | 1,213 | | | Macquarie Group Ltd. (Capital Markets) | | | 107 | |
| | |
| | 9,945 | | | Medibank Private Ltd. (Insurance) | | | 24 | |
| | |
| | 14,108 | | | Mirvac Group (Equity Real Estate Investment Trusts) | | | 31 | |
| | |
| | 10,319 | | | National Australia Bank Ltd. (Banks) | | | 194 | |
| | |
| | 2,774 | | | Newcrest Mining Ltd. (Metals & Mining) | | | 62 | |
| | |
| | 1,372 | | | Orica Ltd. (Chemicals) | | | 19 | |
| | |
| | 6,354 | | | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) | | | 33 | |
| | |
| | 4,799 | | | QBE Insurance Group Ltd. (Insurance) | | | 40 | |
| | |
| | 511 | | | Ramsay Health Care Ltd. (Health Care Providers & Services) | | | 26 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Australia (continued) | | | | |
| | |
| | 190 | | | REA Group Ltd. (Interactive Media & Services) | | $ | 13 | |
| | |
| | 1,394 | | | Rio Tinto Ltd. (Metals & Mining) | | | 102 | |
| | |
| | 6,393 | | | Santos Ltd. (Oil, Gas & Consumable Fuels) | | | 32 | |
| | |
| | 19,201 | | | Scentre Group (Equity Real Estate Investment Trusts) | | | 52 | |
| | |
| | 1,205 | | | Seek Ltd. (Professional Services) | | | 18 | |
| | |
| | 1,626 | | | Sonic Healthcare Ltd. (Health Care Providers & Services) | | | 31 | |
| | |
| | 20,247 | | | South32 Ltd. (Metals & Mining) | | | 45 | |
| | |
| | 8,686 | | | Stockland Trust Group (Equity Real Estate Investment Trusts) | | | 25 | |
| | |
| | 4,690 | | | Suncorp Group Ltd. (Insurance) | | | 44 | |
| | |
| | 3,994 | | | Sydney Airport (Transportation Infrastructure) | | | 23 | |
| | |
| | 7,278 | | | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | | | 23 | |
| | |
| | 16,699 | | | Telstra Corp. Ltd. (Diversified Telecommunication Services) | | | 45 | |
| | |
| | 10,038 | | | Transurban Group (Transportation Infrastructure) | | | 103 | |
| | |
| | 2,595 | | | Treasury Wine Estates Ltd. (Beverages) | | | 28 | |
| | |
| | 11,760 | | | Vicinity Centres (Equity Real Estate Investment Trusts) | | | 20 | |
| | |
| | 433 | | | Washington H Soul Pattinson & Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 7 | |
| | |
| | 4,254 | | | Wesfarmers Ltd. (Food & Staples Retailing) | | | 109 | |
| | |
| | 12,787 | | | Westpac Banking Corp. (Banks) | | | 255 | |
| | |
| | 3,580 | | | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | | | 91 | |
| | |
| | 4,721 | | | Woolworths Ltd. (Food & Staples Retailing) | | | 111 | |
| | |
| | 1,164 | | | WorleyParsons Ltd. (Energy Equipment & Services) | | | 12 | |
| | | | | | | | |
| | | | | | | 3,832 | |
| | | | | | | | |
| | |
| | | | Austria — 0.08% | | | | |
| | |
| | 263 | | | ANDRITZ AG (Machinery) | | | 10 | |
| | |
| | 1,086 | | | Erste Group Bank AG (Banks) | | | 40 | |
| | |
| | 557 | | | OMV AG (Oil, Gas & Consumable Fuels) | | | 27 | |
| | |
| | 706 | | | Raiffeisen Bank International AG (Banks) (b) | | | 17 | |
| | |
| | 246 | | | Verbund AG (Electric Utilities) | | | 13 | |
| | |
| | 419 | | | Voestalpine AG (Metals & Mining) | | | 13 | |
| | | | | | | | |
| | | | | | | 120 | |
| | | | | | | | |
| | |
| | | | Belgium — 0.33% | | | | |
| | |
| | 660 | | | Ageas (Insurance) | | | 34 | |
| | |
| | 2,826 | | | Anheuser-Busch InBev N.V. (Beverages) | | | 250 | |
| | |
| | 549 | | | Belgacom SA (Diversified Telecommunication Services) | | | 16 | |
| | |
| | 207 | | | Colruyt SA (Food & Staples Retailing) | | | 12 | |
| | |
| | 291 | | | Groupe Bruxelles Lambert SA (Diversified Financial Services) | | | 29 | |
| | |
| | 902 | | | KBC Groep N.V. (Banks) | | | 59 | |
| | |
| | 267 | | | Solvay SA (Chemicals) | | | 28 | |
| | |
| | 170 | | | Telenet Group Holding N.V. (Media) | | | 9 | |
| | |
| | 456 | | | UCB SA (Pharmaceuticals) | | | 38 | |
| | |
| | 712 | | | Umicore SA (Chemicals) (b) | | | 23 | |
| | | | | | | | |
| | | | | | | 498 | |
| | | | | | | | |
| | |
| | | | Bermuda — 0.18% | | | | |
| | |
| | 1,453 | | | Arch Capital Group Ltd. (Insurance) (a) | | | 54 | |
| | |
| | 583 | | | Bunge Ltd. (Food Products) | | | 32 | |
| | |
| | 1,372 | | | IHS Markit Ltd. (Professional Services) (a) | | | 88 | |
See accompanying notes to financial statements.
128
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| | |
| | | | Bermuda (continued) | | | | |
| | |
| | 1,434 | | | Invesco Ltd. (Capital Markets) | | $ | 29 | |
| | |
| | 2,255 | | | Marvell Technology Group Ltd. (Semiconductors & Semiconductor Equipment) | | | 54 | |
| | |
| | 2,500 | | | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | | | 7 | |
| | | | | | | | |
| | | | | | | 264 | |
| | | | | | | | |
| | |
| | | | Canada — 3.45% | | | | |
| | |
| | 900 | | | Agnico-Eagle Mines Ltd. (Metals & Mining) | | | 46 | |
| | |
| | 1,600 | | | Alimentation Couche-Tard, Inc., Class – B (Food & Staples Retailing) | | | 100 | |
| | |
| | 1,000 | | | AltaGas Ltd. (Gas Utilities) | | | 15 | |
| | |
| | 300 | | | Atco Ltd. (Multi-Utilities) | | | 10 | |
| | |
| | 2,500 | | | Aurora Cannabis, Inc. (Pharmaceuticals) (a) | | | 20 | |
| | |
| | 2,400 | | | Bank of Montreal (Banks) | | | 181 | |
| | |
| | 4,600 | | | Bank of Nova Scotia (Banks) | | | 247 | |
| | |
| | 6,600 | | | Barrick Gold Corp. (Metals & Mining) | | | 105 | |
| | |
| | 600 | | | BCE, Inc. (Diversified Telecommunication Services) | | | 27 | |
| | |
| | 1,900 | | | Blackberry Ltd. (Software) (a) | | | 14 | |
| | |
| | 7,700 | | | Bombardier, Inc. (Aerospace & Defense) (a)(b) | | | 13 | |
| | |
| | 3,100 | | | Brookfield Asset Management, Inc. (Capital Markets) | | | 148 | |
| | |
| | 1,000 | | | CAE, Inc. (Aerospace & Defense) | | | 27 | |
| | |
| | 1,400 | | | Cameco Corp. (Oil, Gas & Consumable Fuels) | | | 15 | |
| | |
| | 1,700 | | | Canadian Imperial Bank of Commerce (Banks) | | | 134 | |
| | |
| | 2,700 | | | Canadian National Railway Co. (Road & Rail) | | | 250 | |
| | |
| | 500 | | | Canadian Pacific Railway Ltd. (Road & Rail) | | | 118 | |
| | |
| | 200 | | | Canadian Tire Corp. Ltd., Class – A (Multiline Retail) | | | 22 | |
| | |
| | 500 | | | Canadian Utilities Ltd., Class – A (Multi-Utilities) | | | 14 | |
| | |
| | 800 | | | Canopy Growth Corp. (Pharmaceuticals) (a)(b) | | | 32 | |
| | |
| | 600 | | | CCL Industries, Inc., Class – B (Containers & Packaging) (b) | | | 29 | |
| | |
| | 3,800 | | | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 34 | |
| | |
| | 900 | | | CGI, Inc. (IT Services) (a) | | | 69 | |
| | |
| | 800 | | | Ci Financial Corp. (Capital Markets) | | | 13 | |
| | |
| | 700 | | | Cronos Group, Inc. (Pharmaceuticals) (a) | | | 11 | |
| | |
| | 1,100 | | | Dollarama, Inc. (Multiline Retail) | | | 38 | |
| | |
| | 200 | | | Emera, Inc. (Electric Utilities) (b) | | | 8 | |
| | |
| | 600 | | | Empire Co. Ltd. (Food & Staples Retailing) | | | 15 | |
| | |
| | 7,500 | | | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | | | 270 | |
| | |
| | 5,400 | | | Encana Corp. (Oil, Gas & Consumable Fuels) | | | 28 | |
| | |
| | 600 | | | First Capital Realty, Inc. (Real Estate Management & Development) | | | 10 | |
| | |
| | 2,500 | | | First Quantum Minerals Ltd. (Metals & Mining) | | | 24 | |
| | |
| | 1,600 | | | Fortis, Inc. (Electric Utilities) | | | 63 | |
| | |
| | 700 | | | Franco-Nevada Corp. (Metals & Mining) | | | 59 | |
| | |
| | 800 | | | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | | | 31 | |
| | |
| | 1,000 | | | Great-West Lifeco, Inc. (Insurance) | | | 23 | |
| | |
| | 1,300 | | | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 12 | |
| | |
| | 1,200 | | | Hydro One Ltd. (Electric Utilities) (b) | | | 21 | |
| | |
| | 400 | | | iA Financial Corp., Inc. (Insurance) | | | 16 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Canada (continued) | | | | |
| | |
| | 300 | | | IGM Financial, Inc. (Capital Markets) | | $ | 9 | |
| | |
| | 1,000 | | | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | | | 28 | |
| | |
| | 500 | | | Intact Financial Corp. (Insurance) (b) | | | 46 | |
| | |
| | 1,500 | | | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | | | 23 | |
| | |
| | 800 | | | Keyera Corp. (Oil, Gas & Consumable Fuels) (b) | | | 21 | |
| | |
| | 4,500 | | | Kinross Gold Corp. (Metals & Mining) (a) | | | 17 | |
| | |
| | 700 | | | Kirkland Lake Gold Ltd. (Metals & Mining) | | | 30 | |
| | |
| | 700 | | | Loblaw Companies Ltd. (Food & Staples Retailing) | | | 36 | |
| | |
| | 407 | | | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | | | 73 | |
| | |
| | 2,400 | | | Lundin Mining Corp. (Metals & Mining) (b) | | | 13 | |
| | |
| | 1,200 | | | Magna Internationl (Auto Components) | | | 60 | |
| | |
| | 7,300 | | | Manulife Financial Corp. (Insurance) | | | 133 | |
| | |
| | 200 | | | Methanex Corp. (Chemicals) | | | 9 | |
| | |
| | 900 | | | Metro, Inc. (Food & Staples Retailing) | | | 34 | |
| | |
| | 1,200 | | | National Bank of Canada (Banks) | | | 57 | |
| | |
| | 2,200 | | | Nutrien Ltd. (Chemicals) | | | 118 | |
| | |
| | 300 | | | Onex Corp. (Diversified Financial Services) | | | 18 | |
| | |
| | 1,000 | | | Open Text Corp. (Software) (b) | | | 41 | |
| | |
| | 1,900 | | | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels) | | | 71 | |
| | |
| | 1,100 | | | Power Corp. of Canada (Insurance) | | | 24 | |
| | |
| | 1,000 | | | Power Financial Corp. (Insurance) | | | 23 | |
| | |
| | 800 | | | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels) (b) | | | 11 | |
| | |
| | 600 | | | Quebecor, Inc. (Media) | | | 14 | |
| | |
| | 900 | | | Restaurant Brands International, Inc. (Hotels, Restaurants & Leisure) | | | 62 | |
| | |
| | 1,400 | | | Rogers Communications, Inc. (Wireless Telecommunication Services) | | | 75 | |
| | |
| | 5,300 | | | Royal Bank of Canada (Banks) | | | 422 | |
| | |
| | 1,700 | | | Shaw Communications, Inc., Class – B (Media) | | | 35 | |
| | |
| | 400 | | | Shopify, Inc. (IT Services) (a) | | | 120 | |
| | |
| | 600 | | | SNC-Lavalin Group, Inc. (Construction & Engineering) | | | 12 | |
| | |
| | 800 | | | Stars Group, Inc. (The) (Hotels, Restaurants & Leisure) (a) | | | 14 | |
| | |
| | 2,200 | | | Sun Life Financial, Inc. (Insurance) | | | 91 | |
| | |
| | 5,900 | | | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 184 | |
| | |
| | 3,400 | | | TC Energy Corp. (Oil, Gas & Consumable Fuels) | | | 169 | |
| | |
| | 1,800 | | | Teck Cominco Ltd., Class – B (Metals & Mining) | | | 42 | |
| | |
| | 700 | | | TELUS Corp. (Diversified Telecommunication Services) | | | 26 | |
| | |
| | 800 | | | Thomson Reuters Corp. (Professional Services) | | | 52 | |
| | |
| | 6,800 | | | Toronto-Dominion Bank (Banks) | | | 398 | |
| | |
| | 900 | | | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) | | | 11 | |
| | |
| | 600 | | | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 13 | |
| | |
| | 1,000 | | | Waste Connections, Inc. (Commercial Services & Supplies) | | | 96 | |
| | |
| | 200 | | | West Fraser Timber Co. Ltd. (Paper & Forest Products) | | | 9 | |
| | |
| | 300 | | | Weston (George) Ltd. (Food & Staples Retailing) | | | 23 | |
See accompanying notes to financial statements.
129
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| | |
| | | | Canada (continued) | | | | |
| | |
| | 1,600 | | | Wheaton Precious Metals Corp. (Metals & Mining) | | $ | 39 | |
| | |
| | 400 | | | WSP Global, Inc. (Construction & Engineering) | | | 22 | |
| | | | | | | | |
| | | | | | | 5,136 | |
| | | | | | | | |
| |
| | | | Denmark — 0.56% | |
| | |
| | 14 | | | A.P. Moller – Maersk A/S, Class – A (Marine) | | | 16 | |
| | |
| | 24 | | | A.P. Moller – Maersk A/S, Class – B (Marine) | | | 30 | |
| | |
| | 386 | | | Carlsberg A/S, Class – B (Beverages) | | | 51 | |
| | |
| | 381 | | | Christian Hansen Holding A/S (Chemicals) (b) | | | 36 | |
| | |
| | 429 | | | Coloplast A/S, Class – B (Health Care Equipment & Supplies) | | | 48 | |
| | |
| | 410 | | | Demant A/S (Health Care Equipment & Supplies) (a) | | | 13 | |
| | |
| | 644 | | | DSV A/S (Road & Rail) | | | 63 | |
| | |
| | 222 | | | Genmab A/S (Biotechnology) (a)(b) | | | 41 | |
| | |
| | 251 | | | H. Lundbeck A/S (Pharmaceuticals) | | | 10 | |
| | |
| | 570 | | | ISS A/S (Commercial Services & Supplies) | | | 17 | |
| | |
| | 6,376 | | | Novo Nordisk A/S, Class – B (Pharmaceuticals) | | | 327 | |
| | |
| | 791 | | | Novozymes A/S, B Shares (Chemicals) | | | 38 | |
| | |
| | 683 | | | Orsted A/S (Electric Utilities) (b) | | | 59 | |
| | |
| | 377 | | | Pandora A/S (Textiles, Apparel & Luxury Goods) (b) | | | 13 | |
| | |
| | 561 | | | Tryg A/S (Insurance) | | | 18 | |
| | |
| | 706 | | | Vestas Wind Systems A/S (Electrical Equipment) | | | 61 | |
| | | | | | | | |
| | | | | | | 841 | |
| | | | | | | | |
| |
| | | | Finland — 0.39% | |
| | |
| | 514 | | | Elisa Oyj (Diversified Telecommunication Services) | | | 25 | |
| | |
| | 1,604 | | | Fortum Oyj (Electric Utilities) | | | 35 | |
| | |
| | 1,224 | | | Kone Oyj (Machinery) | | | 72 | |
| | |
| | 380 | | | Metso Oyj (Machinery) | | | 15 | |
| | |
| | 1,528 | | | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | | | 52 | |
| | |
| | 21,141 | | | Nokia Oyj (Communications Equipment) | | | 105 | |
| | |
| | 448 | | | Nokian Renkaat Oyj (Auto Components) | | | 14 | |
| | |
| | 10,985 | | | Nordea Bank Abp (Banks) | | | 80 | |
| | |
| | 376 | | | Orion Oyj, Class – B (Pharmaceuticals) | | | 14 | |
| | |
| | 1,602 | | | Sampo Oyj, Class – A (Insurance) (b) | | | 76 | |
| | |
| | 2,101 | | | Stora Enso Oyj, R Shares (Paper & Forest Products) | | | 25 | |
| | |
| | 1,928 | | | UPM-Kymmene Oyj (Paper & Forest Products) | | | 51 | |
| | |
| | 1,603 | | | Wartsila Oyj, Class – B (Machinery) | | | 23 | |
| | | | | | | | |
| | | | | | | 587 | |
| | | | | | | | |
| |
| | | | France — 3.65% | |
| | |
| | 663 | | | Accor SA (Hotels, Restaurants & Leisure) (b) | | | 28 | |
| | |
| | 107 | | | Aeroports de Paris (Transportation Infrastructure) | | | 19 | |
| | |
| | 1,594 | | | Air Liquide SA (Chemicals) | | | 222 | |
| | |
| | 565 | | | Alstom SA (Machinery) | | | 26 | |
| | |
| | 219 | | | Amundi SA (Capital Markets) (b) | | | 15 | |
| | |
| | 296 | | | Arkema SA (Chemicals) | | | 28 | |
| | |
| | 347 | | | Atos SE (IT Services) | | | 29 | |
| | |
| | 7,208 | | | AXA SA (Insurance) | | | 189 | |
| | |
| | 149 | | | BioMerieux (Health Care Equipment & Supplies) | | | 12 | |
| | |
| | 4,178 | | | BNP Paribas (Banks) | | | 199 | |
| | |
| | 805 | | | Bouygues SA (Construction & Engineering) | | | 30 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | France (continued) | |
| | |
| | 1,038 | | | Bureau Veritas SA (Professional Services) (b) | | $ | 26 | |
| | |
| | 574 | | | Capgemini SE (IT Services) | | | 71 | |
| | |
| | 2,364 | | | Carrefour SA (Food & Staples Retailing) | | | 46 | |
| | |
| | 305 | | | Casino Guichard-Perrachon SA (Food & Staples Retailing) | | | 10 | |
| | |
| | 620 | | | CNP Assurances (Insurance) | | | 14 | |
| | |
| | 1,776 | | | Compagnie de Saint-Gobain (Building Products) | | | 69 | |
| | |
| | 618 | | | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | | | 78 | |
| | |
| | 4,140 | | | Credit Agricole SA (Banks) | | | 49 | |
| | |
| | 2,291 | | | Danone SA (Food Products) | | | 194 | |
| | |
| | 473 | | | Dassault Systemes SE (Software) | | | 75 | |
| | |
| | 865 | | | Edenred (Commercial Services & Supplies) | | | 44 | |
| | |
| | 326 | | | Eiffage SA (Construction & Engineering) (b) | | | 32 | |
| | |
| | 2,487 | | | Electricite de France SA (Electric Utilities) | | | 31 | |
| | |
| | 6,855 | | | ENGIE (Multi-Utilities) | | | 103 | |
| | |
| | 1,050 | | | Essilor International SA (Health Care Equipment & Supplies) | | | 137 | |
| | |
| | 146 | | | Eurazeo SE (Diversified Financial Services) (b) | | | 10 | |
| | |
| | 42 | | | Eurofins Scientific SE (Life Sciences Tools & Services) (b) | | | 18 | |
| | |
| | 849 | | | Eutelsat Communications (Media) (b) | | | 16 | |
| | |
| | 274 | | | Faurecia (Auto Components) | | | 13 | |
| | |
| | 164 | | | Fonciere des Regions (Equity Real Estate Investment Trusts) | | | 17 | |
| | |
| | 165 | | | Gecina SA (Equity Real Estate Investment Trusts) (b) | | | 25 | |
| | |
| | 1,589 | | | Getlink SE (Transportation Infrastructure) | | | 25 | |
| | |
| | 115 | | | Hermes International (Textiles, Apparel & Luxury Goods) | | | 83 | |
| | |
| | 108 | | | Icade (Equity Real Estate Investment Trusts) | | | 10 | |
| | |
| | 96 | | | Iliad SA (Diversified Telecommunication Services) | | | 11 | |
| | |
| | 129 | | | Imerys SA (Construction Materials) | | | 7 | |
| | |
| | 217 | | | Ingenico Group SA (Electronic Equipment, Instruments & Components) | | | 19 | |
| | |
| | 137 | | | Ipsen SA (Pharmaceuticals) | | | 19 | |
| | |
| | 269 | | | JC Decaux SA (Media) (b) | | | 8 | |
| | |
| | 282 | | | Kering (Textiles, Apparel & Luxury Goods) | | | 166 | |
| | |
| | 738 | | | Klepierre (Equity Real Estate Investment Trusts) | | | 25 | |
| | |
| | 963 | | | Legrand SA (Electrical Equipment) | | | 70 | |
| | |
| | 935 | | | L’Oreal SA (Personal Products) | | | 267 | |
| | |
| | 1,028 | | | LVMH Moet Hennessy Louis Vuitton SA (Textiles, Apparel & Luxury Goods) | | | 438 | |
| | |
| | 3,413 | | | Natixism SA (Capital Markets) | | | 14 | |
| | |
| | 7,528 | | | Orange SA (Diversified Telecommunication Services) (b) | | | 118 | |
| | |
| | 790 | | | Pernod Ricard SA (Beverages) | | | 145 | |
| | |
| | 2,311 | | | Peugeot SA (Automobiles) | | | 56 | |
| | |
| | 843 | | | Publicis Groupe (Media) | | | 44 | |
| | |
| | 81 | | | Remy Cointreau SA (Beverages) | | | 12 | |
| | |
| | 694 | | | Renault SA (Automobiles) (b) | | | 44 | |
| | |
| | 1,217 | | | Safran SA (Aerospace & Defense) | | | 178 | |
| | |
| | 4,157 | | | Sanofi-Aventis (Pharmaceuticals) | | | 360 | |
| | |
| | 100 | | | Sartorius Stedim Biotech (Life Sciences Tools & Services) | | | 16 | |
See accompanying notes to financial statements.
130
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | France (continued) | |
| | |
| | 2,044 | | | Schneider Electric SA (Electrical Equipment) (b) | | $ | 185 | |
| | |
| | 81 | | | Seb SA (Household Durables) | | | 15 | |
| | |
| | 91 | | | Societe BIC SA (Commercial Services & Supplies) | | | 7 | |
| | |
| | 2,772 | | | Societe Generale (Banks) | | | 70 | |
| | |
| | 320 | | | Sodexo (Hotels, Restaurants & Leisure) | | | 38 | |
| | |
| | 1,235 | | | Suez Environnement Co. (Multi-Utilities) | | | 18 | |
| | |
| | 209 | | | Teleperformance (Professional Services) | | | 41 | |
| | |
| | 385 | | | Thales SA (Aerospace & Defense) | | | 48 | |
| | |
| | 8,796 | | | Total SA (Oil, Gas & Consumable Fuels) | | | 494 | |
| | |
| | 302 | | | UbiSoft Entertainment SA (Entertainment) (a) | | | 24 | |
| | |
| | 500 | | | Unibail – Rodamco-Westfield (Equity Real Estate Investment Trusts) | | | 74 | |
| | |
| | 867 | | | Valeo SA (Auto Components) | | | 28 | |
| | |
| | 2,124 | | | Veolia Environnement (Multi-Utilities) | | | 52 | |
| | |
| | 1,889 | | | Vinci SA (Construction & Engineering) | | | 193 | |
| | |
| | 3,435 | | | Vivendi SA (Entertainment) | | | 94 | |
| | |
| | 130 | | | Wendel SA (Diversified Financial Services) | | | 18 | |
| | |
| | 297 | | | Worldline SA (IT Services) (a)(b) | | | 22 | |
| | | | | | | | |
| | | | | | | 5,431 | |
| | | | | | | | |
| |
| | | | Germany — 2.82% | |
| | |
| | 669 | | | Adidas AG (Textiles, Apparel & Luxury Goods) | | | 207 | |
| | |
| | 1,565 | | | Allianz SE (Insurance) | | | 376 | |
| | |
| | 2,853 | | | Aroundtown SA (Real Estate Management & Development) (b) | | | 24 | |
| | |
| | 175 | | | Axel Springer AG (Media) | | | 12 | |
| | |
| | 3,408 | | | BASF SE (Chemicals) | | | 247 | |
| | |
| | 3,462 | | | Bayer AG (Pharmaceuticals) | | | 240 | |
| | |
| | 1,245 | | | Bayerische Motoren Werke AG (Automobiles) | | | 92 | |
| | |
| | 364 | | | Beiersdorf AG (Personal Products) | | | 44 | |
| | |
| | 558 | | | Brenntag AG (Trading Companies & Distributors) | | | 27 | |
| | |
| | 146 | | | Carl Zeiss Meditec AG (Health Care Equipment & Supplies) | | | 14 | |
| | |
| | 3,617 | | | Commerzbank AG (Banks) | | | 26 | |
| | |
| | 397 | | | Continental AG (Auto Components) | | | 58 | |
| | |
| | 628 | | | Covestro AG (Chemicals) (b) | | | 32 | |
| | |
| | 3,379 | | | Daimler AG, Registered Shares (Automobiles) | | | 188 | |
| | |
| | 406 | | | Delivery Hero Se (Internet & Direct Marketing Retail) (a)(b) | | | 18 | |
| | |
| | 7,090 | | | Deutsche Bank AG (Capital Markets) | | | 55 | |
| | |
| | 713 | | | Deutsche Boerse AG (Capital Markets) | | | 100 | |
| | |
| | 858 | | | Deutsche Lufthansa AG, Registered Shares (Airlines) | | | 15 | |
| | |
| | 3,735 | | | Deutsche Post AG (Air Freight & Logistics) | | | 123 | |
| | |
| | 12,386 | | | Deutsche Telekom AG (Diversified Telecommunication Services) | | | 215 | |
| | |
| | 1,289 | | | Deutsche Wohnen AG (Real Estate Management & Development) | | | 47 | |
| | |
| | 7,968 | | | E.ON AG (Multi-Utilities) | | | 86 | |
| | |
| | 673 | | | Evonik Industries AG (Chemicals) (b) | | | 20 | |
| | |
| | 150 | | | Fraport AG (Transportation Infrastructure) | | | 13 | |
| | |
| | 778 | | | Fresenius Medical Care AG & Co. KGAA (Health Care Providers & Services) | | | 61 | |
| | |
| | 1,509 | | | Fresenius Se & Co. KGAA (Health Care Providers & Services) | | | 82 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Germany (continued) | |
| | |
| | 554 | | | GEA Group AG (Machinery) | | $ | 16 | |
| | |
| | 218 | | | Hannover Rueckversicherung AG (Insurance) | | | 35 | |
| | |
| | 538 | | | HeidelbergCement AG (Construction Materials) | | | 44 | |
| | |
| | 375 | | | Henkel AG & Co. KGAA (Household Products) | | | 34 | |
| | |
| | 123 | | | Hochtief AG (Construction & Engineering) (b) | | | 15 | |
| | |
| | 229 | | | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | | | 15 | |
| | |
| | 4,107 | | | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | | | 73 | |
| | |
| | 502 | | | Innogy SE (Multi-Utilities) (b) | | | 24 | |
| | |
| | 304 | | | KION Group AG (Machinery) (b) | | | 19 | |
| | |
| | 174 | | | Knorr-Bremse AG (Machinery) | | | 19 | |
| | |
| | 314 | | | Lanxess AG (Chemicals) | | | 19 | |
| | |
| | 466 | | | Merck KGaA (Pharmaceuticals) | | | 49 | |
| | |
| | 650 | | | Metro AG (Food & Staples Retailing) | | | 12 | |
| | |
| | 188 | | | MTU Aero Engines AG (Aerospace & Defense) | | | 45 | |
| | |
| | 553 | | | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | | | 139 | |
| | |
| | 300 | | | Puma SE (Textiles, Apparel & Luxury Goods) | | | 20 | |
| | |
| | 1,975 | | | RWE AG (Multi-Utilities) | | | 49 | |
| | |
| | 3,636 | | | SAP SE (Software) | | | 498 | |
| | |
| | 129 | | | Sartorius AG (Health Care Equipment & Supplies) | | | 27 | |
| | |
| | 2,833 | | | Siemens AG (Industrial Conglomerates) | | | 337 | |
| | |
| | 542 | | | Siemens Healthineers AG (Health Care Equipment & Supplies) (b) | | | 23 | |
| | |
| | 464 | | | Symrise AG (Chemicals) (b) | | | 45 | |
| | |
| | 3,222 | | | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | | | 9 | |
| | |
| | 1,461 | | | ThyssenKrupp AG (Metals & Mining) | | | 21 | |
| | |
| | 1,592 | | | TUI AG (Hotels, Restaurants & Leisure) | | | 16 | |
| | |
| | 1,782 | | | Vonovia SE (Real Estate Management & Development) | | | 85 | |
| | |
| | 424 | | | Wirecard AG (IT Services) | | | 72 | |
| | |
| | 452 | | | Zalando Se (Internet & Direct Marketing Retail) (a)(b) | | | 20 | |
| | | | | | | | |
| | | | | | | 4,202 | |
| | | | | | | | |
| |
| | | | Hong Kong — 1.18% | |
| | |
| | 44,600 | | | AIA Group Ltd. (Insurance) | | | 482 | |
| | |
| | 1,100 | | | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) (b) | | | 11 | |
| | |
| | 13,500 | | | BOC Hong Kong (Holdings) Ltd. (Banks) | | | 53 | |
| | |
| | 9,500 | | | CK Asset Holdings Ltd. (Real Estate Management & Development) | | | 74 | |
| | |
| | 2,500 | | | CK Infrastructure Holdings Ltd. (Electric Utilities) | | | 20 | |
| | |
| | 6,000 | | | CLP Holdings Ltd. (Electric Utilities) | | | 66 | |
| | |
| | 8,000 | | | Galaxy Entertainment Group Ltd. (Hotels, Restaurants & Leisure) | | | 54 | |
| | |
| | 7,000 | | | Hang Lung Properties Ltd. (Real Estate Management & Development) | | | 17 | |
| | |
| | 2,800 | | | Hang Seng Bank Ltd. (Banks) | | | 70 | |
| | |
| | 6,000 | | | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | | | 33 | |
| | |
| | 9,500 | | | HK Electric Investments Ltd. (Electric Utilities) | | | 10 | |
| | |
| | 14,000 | | | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) (b) | | | 22 | |
See accompanying notes to financial statements.
131
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Hong Kong (continued) | |
| | |
| | 37,000 | | | Hong Kong & China Gas Co. Ltd. (Gas Utilities) | | $ | 82 | |
| | |
| | 4,400 | | | Hong Kong Exchanges & Clearing Ltd. (Capital Markets) | | | 156 | |
| | |
| | 2,000 | | | Hysan Development Co. (Real Estate Management & Development) | | | 10 | |
| | |
| | 2,500 | | | Kerry Properties Ltd. (Real Estate Management & Development) | | | 11 | |
| | |
| | 747 | | | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) | | | 16 | |
| | |
| | 3,600 | | | MGM China Holdings Ltd. (Hotels, Restaurants & Leisure) (b) | | | 6 | |
| | |
| | 5,500 | | | MTR Corp. Ltd. (Road & Rail) | | | 37 | |
| | |
| | 6,000 | | | NWS Holdings Ltd. (Industrial Conglomerates) | | | 12 | |
| | |
| | 15,000 | | | PCCW Ltd. (Diversified Telecommunication Services) (b) | | | 9 | |
| | |
| | 5,000 | | | Power Assets Holdings Ltd. (Electric Utilities) | | | 36 | |
| | |
| | 8,800 | | | Sands China Ltd. (Hotels, Restaurants & Leisure) | | | 42 | |
| | |
| | 4,000 | | | Shangri-La Asia Ltd. (Hotels, Restaurants & Leisure) | | | 5 | |
| | |
| | 12,000 | | | Sino Land Co. Ltd. (Real Estate Management & Development) | | | 20 | |
| | |
| | 6,000 | | | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | | | 101 | |
| | |
| | 2,000 | | | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | | | 25 | |
| | |
| | 4,200 | | | Swire Properties Ltd. (Real Estate Management & Development) | | | 17 | |
| | |
| | 5,000 | | | Techtronic Industries Co. (Household Durables) | | | 38 | |
| | |
| | 4,600 | | | The Bank of East Asia Ltd. (Banks) | | | 13 | |
| | |
| | 8,000 | | | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 98 | |
| | |
| | 4,000 | | | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | | | 11 | |
| | |
| | 34,500 | | | WH Group Ltd. (Food Products) (b) | | | 35 | |
| | |
| | 5,000 | | | Wharf Real Estate Investment Co. Ltd. (Real Estate Management & Development) | | | 35 | |
| | |
| | 3,000 | | | Wheelock & Co. Ltd. (Real Estate Management & Development) | | | 22 | |
| | |
| | 5,600 | | | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | | | 13 | |
| | | | | | | | |
| | | | | | | 1,762 | |
| | | | | | | | |
| | |
| | | | Ireland (Republic of) — 0.86% | | | | |
| | |
| | 2,940 | | | AIB Group PLC (Banks) | | | 12 | |
| | |
| | 563 | | | Alkermes PLC (Biotechnology) (a) | | | 13 | |
| | |
| | 342 | | | Allegion PLC (Building Products) | | | 38 | |
| | |
| | 3,507 | | | Bank of Ireland Group PLC (Banks) | | | 18 | |
| | |
| | 3,047 | | | CRH PLC (Construction Materials) (b) | | | 100 | |
| | |
| | 354 | | | DCC PLC (Industrial Conglomerates) (b) | | | 32 | |
| | |
| | 1,585 | | | Eaton Corp. PLC (Electrical Equipment) | | | 132 | |
| | |
| | 3,415 | | | Experian PLC (Professional Services) | | | 103 | |
| | |
| | 900 | | | Ingersoll-Rand PLC (Machinery) | | | 114 | |
| | |
| | 1,597 | | | James Hardie Industries SE (Construction Materials) | | | 21 | |
| | |
| | 573 | | | Kerry Group PLC (Food Products) | | | 68 | |
| | |
| | 553 | | | Kingspan Group PLC (Building Products) | | | 30 | |
| | |
| | 4,977 | | | Medtronic PLC (Health Care Equipment & Supplies) | | | 484 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Ireland (Republic of) (continued) | |
| | |
| | 283 | | | Paddy Power PLC (Hotels, Restaurants & Leisure) | | $ | 21 | |
| | |
| | 588 | | | Pentair PLC (Machinery) | | | 22 | |
| | |
| | 815 | | | Smurfit Kappa Group PLC (Containers & Packaging) | | | 25 | |
| | |
| | 306 | | | STERIS PLC (Health Care Equipment & Supplies) | | | 46 | |
| | | | | | | | |
| | | | | | | 1,279 | |
| | | | | | | | |
| |
| | | | Isle of Man — 0.01% | |
| | |
| | 2,101 | | | GVC Holdings PLC (Hotels, Restaurants & Leisure) | | | 17 | |
| | | | | | | | |
| |
| | | | Israel — 0.16% | |
| | |
| | 153 | | | Azrieli Group (Real Estate Management & Development) | | | 10 | |
| | |
| | 4,094 | | | Bank Hapoalim Ltd. (Banks) (a) | | | 30 | |
| | |
| | 5,394 | | | Bank Leumi Le (Banks) | | | 39 | |
| | |
| | 451 | | | Checkpoint Software Technologies Ltd. (Software) (a) | | | 52 | |
| | |
| | 85 | | | Elbit Systems Ltd. (Aerospace & Defense) | | | 13 | |
| | |
| | 2,543 | | | Israel Chemicals Ltd. (Chemicals) (b) | | | 13 | |
| | |
| | 4,204 | | | Israel Discount Bank, Class – A (Banks) | | | 17 | |
| | |
| | 506 | | | Mizrahi Tefahot Bank Ltd. (Banks) (a) | | | 12 | |
| | |
| | 224 | | | Nice Ltd. (Software) (a) | | | 31 | |
| | |
| | 166 | | | Wix.com Ltd. (IT Services) (a) | | | 24 | |
| | | | | | | | |
| | | | | | | 241 | |
| | | | | | | | |
| |
| | | | Italy — 0.70% | |
| | |
| | 4,045 | | | Assicurazioni Generali SpA (Insurance) | | | 76 | |
| | |
| | 1,789 | | | Atlantia SpA (Transportation Infrastructure) | | | 47 | |
| | |
| | 2,097 | | | Davide Campari – Milano SpA (Beverages) | | | 21 | |
| | |
| | 30,084 | | | Enel SpA (Electric Utilities) (b) | | | 209 | |
| | |
| | 9,530 | | | Eni SpA (Oil, Gas & Consumable Fuels) | | | 159 | |
| | |
| | 442 | | | Ferrari N.V. (Automobiles) | | | 72 | |
| | |
| | 1,869 | | | FinecoBank Banca Fineco SpA (Banks) | | | 21 | |
| | |
| | 54,261 | | | Intesa Sanpaolo SpA (Banks) (b) | | | 115 | |
| | |
| | 1,461 | | | Leonardo SpA (Aerospace & Defense) | | | 19 | |
| | |
| | 2,242 | | | Mediobanca SpA (Banks) (b) | | | 23 | |
| | |
| | 646 | | | Moncler SpA (Textiles, Apparel & Luxury Goods) | | | 28 | |
| | |
| | 1,444 | | | Pirelli & C SpA (Auto Components) (b) | | | 9 | |
| | |
| | 1,887 | | | Poste Italiane SpA (Insurance) (b) | | | 20 | |
| | |
| | 871 | | | Prusmian SpA (Electrical Equipment) | | | 18 | |
| | |
| | 377 | | | Recordati SpA (Pharmaceuticals) | | | 16 | |
| | |
| | 7,516 | | | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | | | 37 | |
| | |
| | 32,939 | | | Telecom Italia SpA (Diversified Telecommunication Services) (a) | | | 18 | |
| | |
| | 21,767 | | | Telecom Italia SpA Rsp (Diversified Telecommunication Services) | | | 11 | |
| | |
| | 5,081 | | | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | | | 32 | |
| | |
| | 7,264 | | | Unicredit SpA (Banks) | | | 89 | |
| | | | | | | | |
| | | | | | | 1,040 | |
| | | | | | | | |
| |
| | | | Japan — 7.62% | |
| | |
| | 700 | | | Advantest Corp. (Semiconductors & Semiconductor Equipment) (b) | | | 19 | |
| | |
| | 2,400 | | | Aeon Co. Ltd. (Food & Staples Retailing) | | | 41 | |
See accompanying notes to financial statements.
132
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 400 | | | AEON Credit Service Co. Ltd. (Consumer Finance) | | $ | 6 | |
| | |
| | 400 | | | AEON Mall Co. Ltd. (Real Estate Management & Development) | | | 6 | |
| | |
| | 500 | | | Air Water, Inc. (Chemicals) | | | 9 | |
| | |
| | 1,600 | | | Ajinomoto Co., Inc. (Food Products) | | | 28 | |
| | |
| | 700 | | | Alfresa Holdings Corp. (Health Care Providers & Services) | | | 17 | |
| | |
| | 500 | | | All Nippon Airways Co. Ltd. (Airlines) | | | 16 | |
| | |
| | 800 | | | ALPS Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 14 | |
| | |
| | 1,200 | | | Amada Holdings Co. Ltd. (Machinery) | | | 14 | |
| | |
| | 400 | | | Aozora Bank Ltd. (Banks) | | | 10 | |
| | |
| | 700 | | | Asahi Glass Co. Ltd. (Building Products) | | | 24 | |
| | |
| | 1,300 | | | Asahi Group Holdings Ltd. (Beverages) | | | 59 | |
| | |
| | 800 | | | ASAHI INTECC Co. Ltd. (Health Care Equipment & Supplies) | | | 20 | |
| | |
| | 4,600 | | | Asahi Kasei Corp. (Chemicals) | | | 49 | |
| | |
| | 7,200 | | | Astellas Pharma, Inc. (Pharmaceuticals) | | | 103 | |
| | |
| | 300 | | | Benesse Holdings, Inc. (Diversified Consumer Services) | | | 7 | |
| | |
| | 2,100 | | | Bridgestone Corp. (Auto Components) | | | 83 | |
| | |
| | 800 | | | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | | | 15 | |
| | |
| | 300 | | | CALBEE, Inc. (Food Products) | | | 8 | |
| | |
| | 3,700 | | | Canon, Inc. (Technology Hardware, Storage & Peripherals) | | | 109 | |
| | |
| | 700 | | | Casio Computer Co. Ltd. (Household Durables) | | | 9 | |
| | |
| | 500 | | | Central Japan Railway Co. (Road & Rail) | | | 100 | |
| | |
| | 200 | | | Century Tokyo Leasing Corp. (Diversified Financial Services) | | | 8 | |
| | |
| | 2,300 | | | Chubu Electric Power Company, Inc. (Electric Utilities) | | | 32 | |
| | |
| | 800 | | | Chugai Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 52 | |
| | |
| | 3,900 | | | Concordia Financial Group Ltd. (Banks) | | | 15 | |
| | |
| | 600 | | | Credit Saison Co. Ltd. (Consumer Finance) | | | 7 | |
| | |
| | 400 | | | CyberAgent, Inc. (Media) | | | 15 | |
| | |
| | 900 | | | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | | | 19 | |
| | |
| | 900 | | | Daicel Corp. (Chemicals) | | | 8 | |
| | |
| | 400 | | | Daifuku Co. Ltd. (Machinery) | | | 23 | |
| | |
| | 2,100 | | | Daiichi Sankyo Co. Ltd. (Pharmaceuticals) | | | 110 | |
| | |
| | 900 | | | Daikin Industries Ltd. (Building Products) | | | 118 | |
| | |
| | 800 | | | Dainippon Sumitomo Pharma Co. Ltd. (Pharmaceuticals) | | | 15 | |
| | |
| | 300 | | | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | | | 38 | |
| | |
| | 2,100 | | | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | | | 61 | |
| | |
| | 5,500 | | | Daiwa Securities Group, Inc. (Capital Markets) | | | 24 | |
| | |
| | 1,600 | | | Denso Corp. (Auto Components) | | | 67 | |
| | |
| | 800 | | | Dentsu, Inc. (Media) | | | 27 | |
| | |
| | 100 | | | Disco Corp. (Semiconductors & Semiconductor Equipment) | | | 17 | |
| | |
| | 400 | | | Don Quijote Co. Ltd. (Multiline Retail) | | | 26 | |
| | |
| | 1,100 | | | East Japan Railway Co. (Road & Rail) | | | 103 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 900 | | | Eisai Co. Ltd. (Pharmaceuticals) | | $ | 51 | |
| | |
| | 500 | | | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | | | 11 | |
| | |
| | 900 | | | FamilyMart Co. Ltd. (Food & Staples Retailing) | | | 21 | |
| | |
| | 700 | | | Fanuc Ltd. (Machinery) | | | 129 | |
| | |
| | 200 | | | Fast Retailing Co. Ltd. (Specialty Retail) | | | 121 | |
| | |
| | 500 | | | Fuji Electric Co. Ltd. (Electrical Equipment) | | | 17 | |
| | |
| | 1,400 | | | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 71 | |
| | |
| | 700 | | | Fujitsu Ltd. (IT Services) (b) | | | 49 | |
| | |
| | 200 | | | GMO Payment Gateway, Inc. (IT Services) | | | 14 | |
| | |
| | 800 | | | Hakuhodo DY Holdings, Inc. (Media) | | | 14 | |
| | |
| | 800 | | | Hankyu Hanshin Holdings, Inc. (Road & Rail) | | | 29 | |
| | |
| | 100 | | | Hikari Tsushin, Inc. (Specialty Retail) | | | 22 | |
| | |
| | 1,000 | | | Hino Motors Ltd. (Machinery) | | | 8 | |
| | |
| | 100 | | | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 11 | |
| | |
| | 200 | | | Hisamitsu Pharmaceutical Co., Inc. (Pharmaceuticals) | | | 8 | |
| | |
| | 400 | | | Hitachi Chemical Co. Ltd. (Chemicals) | | | 11 | |
| | |
| | 400 | | | Hitachi Construction Machinery Co. Ltd. (Machinery) | | | 10 | |
| | |
| | 300 | | | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | | | 15 | |
| | |
| | 3,600 | | | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | | | 131 | |
| | |
| | 800 | | | Hitachi Metals Ltd. (Metals & Mining) | | | 9 | |
| | |
| | 6,100 | | | Honda Motor Co. Ltd. (Automobiles) | | | 158 | |
| | |
| | 200 | | | Hoshizaki Electric Co. Ltd. (Machinery) | | | 15 | |
| | |
| | 1,400 | | | HOYA Corp. (Health Care Equipment & Supplies) | | | 107 | |
| | |
| | 1,000 | | | Hulic Co. Ltd. (Real Estate Management & Development) | | | 8 | |
| | |
| | 700 | | | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) (b) | | | 21 | |
| | |
| | 500 | | | IHI Corp. (Machinery) | | | 12 | |
| | |
| | 3,700 | | | INPEX Corp. (Oil, Gas & Consumable Fuels) | | | 34 | |
| | |
| | 2,000 | | | Isuzu Motors Ltd. (Automobiles) | | | 23 | |
| | |
| | 4,900 | | | ITOCHU Corp. (Trading Companies & Distributors) | | | 94 | |
| | |
| | 300 | | | ITOCHU Techno-Solutions Corp. (IT Services) | | | 8 | |
| | |
| | 800 | | | J. Front Retailing Co. Ltd. (Multiline Retail) | | | 9 | |
| | |
| | 400 | | | Japan Airlines Co. Ltd. (Airlines) | | | 13 | |
| | |
| | 200 | | | Japan Airport Terminal Co. Ltd. (Transportation Infrastructure) | | | 9 | |
| | |
| | 1,800 | | | Japan Exchange Group, Inc. (Capital Markets) | | | 29 | |
| | |
| | 1,500 | | | Japan Post Bank Co. Ltd. (Banks) | | | 15 | |
| | |
| | 5,700 | | | Japan Post Holdings Co. Ltd. (Insurance) (b) | | | 65 | |
| | |
| | 3 | | | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 5 | | | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | | | 30 | |
| | |
| | 10 | | | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | | | 20 | |
| | |
| | 4,500 | | | Japan Tobacco, Inc. (Tobacco) | | | 99 | |
| | |
| | 1,800 | | | JFE Holdings, Inc. (Metals & Mining) | | | 27 | |
| | |
| | 800 | | | JGC Corp. (Construction & Engineering) | | | 11 | |
| | |
| | 1,000 | | | JS Group Corp. (Building Products) | | | 16 | |
See accompanying notes to financial statements.
133
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 700 | | | JSR Corp. (Chemicals) | | $ | 11 | |
| | |
| | 700 | | | JTEKT Corp. (Machinery) | | | 9 | |
| | |
| | 11,600 | | | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 58 | |
| | |
| | 1,900 | | | Kajima Corp. (Construction & Engineering) | | | 26 | |
| | |
| | 500 | | | Kakaku.com, Inc. (Interactive Media & Services) | | | 10 | |
| | |
| | 400 | | | Kamigumi Co. Ltd. (Transportation Infrastructure) | | | 9 | |
| | |
| | 200 | | | Kaneka Corp. (Chemicals) | | | 8 | |
| | |
| | 600 | | | Kansai Paint Co. Ltd. (Chemicals) | | | 13 | |
| | |
| | 1,800 | | | Kao Corp. (Personal Products) | | | 138 | |
| | |
| | 500 | | | Kawasaki Heavy Industries Ltd. (Machinery) | | | 12 | |
| | |
| | 6,600 | | | KDDI Corp. (Wireless Telecommunication Services) | | | 168 | |
| | |
| | 400 | | | Keihan Holdings Co. Ltd. (Industrial Conglomerates) | | | 17 | |
| | |
| | 800 | | | Keikyu Corp. (Road & Rail) | | | 14 | |
| | |
| | 400 | | | Keio Corp. (Road & Rail) | | | 26 | |
| | |
| | 500 | | | Keisei Electric Railway Co. Ltd. (Road & Rail) | | | 18 | |
| | |
| | 300 | | | Keyence Corp. (Electronic Equipment, Instruments & Components) | | | 184 | |
| | |
| | 500 | | | Kikkoman Corp. (Food Products) | | | 22 | |
| | |
| | 600 | | | Kintetsu Corp. (Road & Rail) | | | 29 | |
| | |
| | 3,000 | | | Kirin Holdings Co. Ltd. (Beverages) | | | 64 | |
| | |
| | 200 | | | Kobayashi Pharmaceutical Co. Ltd. (Personal Products) | | | 14 | |
| | |
| | 1,100 | | | Kobe Steel Ltd. (Metals & Mining) | | | 7 | |
| | |
| | 3,500 | | | Komatsu Ltd. (Machinery) | | | 85 | |
| | |
| | 400 | | | Konami Corp. (Entertainment) | | | 19 | |
| | |
| | 2,100 | | | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | | | 20 | |
| | |
| | 100 | | | Kose Corp. (Personal Products) | | | 17 | |
| | |
| | 3,800 | | | Kubota Corp. (Machinery) | | | 63 | |
| | |
| | 1,200 | | | Kuraray Co. Ltd. (Chemicals) | | | 14 | |
| | |
| | 400 | | | Kurita Water Industries Ltd. (Machinery) | | | 10 | |
| | |
| | 1,200 | | | Kyocera Corp. (Electronic Equipment, Instruments & Components) | | | 79 | |
| | |
| | 900 | | | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | | | 16 | |
| | |
| | 1,400 | | | Kyushu Electric Power Co., Inc. (Electric Utilities) | | | 14 | |
| | |
| | 600 | | | Kyushu Railway Co. (Road & Rail) | | | 18 | |
| | |
| | 200 | | | Lawson, Inc. (Food & Staples Retailing) | | | 10 | |
| | |
| | 800 | | | Lion Corp. (Household Products) | | | 15 | |
| | |
| | 1,500 | | | M3, Inc. (Health Care Technology) | | | 28 | |
| | |
| | 5,600 | | | Marubeni Corp. (Trading Companies & Distributors) | | | 37 | |
| | |
| | 700 | | | Marui Group Co. Ltd. (Multiline Retail) | | | 14 | |
| | |
| | 2,100 | | | Mazda Motor Corp. (Automobiles) | | | 22 | |
| | |
| | 300 | | | McDonald’s Holdings Co. (Japan) Ltd. (Hotels, Restaurants & Leisure) | | | 13 | |
| | |
| | 3,200 | | | Mebuki Financial Group, Inc. (Banks) | | | 8 | |
| | |
| | 700 | | | Medipal Holdings Corp. (Health Care Providers & Services) | | | 15 | |
| | |
| | 400 | | | MEIJI Holdings Co. Ltd. (Food Products) | | | 29 | |
| | |
| | 1,300 | | | Minebea Co. Ltd. (Machinery) | | | 22 | |
| | |
| | 1,000 | | | MISUMI Group, Inc. (Machinery) | | | 25 | |
| | |
| | 4,600 | | | Mitsubishi Chemical Holdings Corp. (Chemicals) | | | 32 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 5,100 | | | Mitsubishi Corp. (Trading Companies & Distributors) | | $ | 136 | |
| | |
| | 6,900 | | | Mitsubishi Electric Corp. (Electrical Equipment) | | | 91 | |
| | |
| | 4,300 | | | Mitsubishi Estate Co. Ltd. (Real Estate Management & Development) | | | 80 | |
| | |
| | 600 | | | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | | | 8 | |
| | |
| | 1,300 | | | Mitsubishi Heavy Industries Ltd. (Machinery) | | | 57 | |
| | |
| | 400 | | | Mitsubishi Materials Corp. (Metals & Mining) | | | 11 | |
| | |
| | 800 | | | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | | | 9 | |
| | |
| | 45,700 | | | Mitsubishi UFJ Financial Group, Inc. (Banks) | | | 218 | |
| | |
| | 1,500 | | | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | | | 8 | |
| | |
| | 6,300 | | | Mitsui & Co. Ltd. (Trading Companies & Distributors) | | | 103 | |
| | |
| | 700 | | | Mitsui Chemicals, Inc. (Chemicals) | | | 17 | |
| | |
| | 3,400 | | | Mitsui Fudosan Co. Ltd. (Real Estate Management & Development) | | | 83 | |
| | |
| | 400 | | | Mitsui O.S.K. Lines Ltd. (Marine) | | | 10 | |
| | |
| | 89,900 | | | Mizuho Financial Group, Inc. (Banks) | | | 131 | |
| | |
| | 500 | | | MonotaRO Co. Ltd. (Trading Companies & Distributors) | | | 12 | |
| | |
| | 1,800 | | | MS&AD Insurance Group Holdings, Inc. (Insurance) | | | 57 | |
| | |
| | 2,100 | | | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 95 | |
| | |
| | 400 | | | Nabtesco Corp. (Machinery) | | | 11 | |
| | |
| | 700 | | | Nagoya Railroad Co. Ltd. (Road & Rail) | | | 19 | |
| | |
| | 1,000 | | | NEC Corp. (Technology Hardware, Storage & Peripherals) | | | 39 | |
| | |
| | 900 | | | NGK Insulators Ltd. (Machinery) | | | 13 | |
| | |
| | 600 | | | NGK Spark Plug Co. Ltd. (Auto Components) | | | 11 | |
| | |
| | 300 | | | NH Foods Ltd. (Food Products) | | | 13 | |
| | |
| | 800 | | | Nidec Corp. (Electrical Equipment) | | | 110 | |
| | |
| | 1,200 | | | Nikon Corp. (Household Durables) | | | 17 | |
| | |
| | 400 | | | Nintendo Co. Ltd. (Entertainment) | | | 147 | |
| | |
| | 5 | | | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | | | 35 | |
| | |
| | 300 | | | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 8 | |
| | |
| | 300 | | | Nippon Express Co. Ltd. (Road & Rail) | | | 16 | |
| | |
| | 500 | | | Nippon Paint Holdings Co. Ltd. (Chemicals) | | | 19 | |
| | |
| | 7 | | | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) (b) | | | 16 | |
| | |
| | 2,900 | | | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) (b) | | | 50 | |
| | |
| | 2,400 | | | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | | | 112 | |
| | |
| | 600 | | | Nippon Yusen Kabushiki Kaisha (Marine) | | | 9 | |
| | |
| | 500 | | | Nissan Chemical Industries Ltd. (Chemicals) | | | 23 | |
| | |
| | 700 | | | Nisshin Seifun Group, Inc. (Food Products) | | | 16 | |
| | |
| | 300 | | | Nissin Foods Holdings Co. Ltd. (Food Products) | | | 19 | |
| | |
| | 300 | | | Nitori Holdings Co. Ltd. (Specialty Retail) | | | 40 | |
| | |
| | 600 | | | Nitto Denko Corp. (Chemicals) | | | 30 | |
| | |
| | 12,000 | | | Nomura Holdings, Inc. (Capital Markets) | | | 42 | |
| | |
| | 500 | | | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | | | 11 | |
See accompanying notes to financial statements.
134
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 14 | | | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) (b) | | $ | 22 | |
| | |
| | 1,200 | | | Nomura Research Institute Ltd. (IT Services) | | | 19 | |
| | |
| | 1,300 | | | NSK Ltd. (Machinery) | | | 12 | |
| | |
| | 2,600 | | | NTT Data Corp. (IT Services) | | | 35 | |
| | |
| | 5,000 | | | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | | | 117 | |
| | |
| | 2,800 | | | Obayashi Corp. (Construction & Engineering) | | | 28 | |
| | |
| | 1,100 | | | Odakyu Electric Railway Co. Ltd. (Road & Rail) | | | 27 | |
| | |
| | 3,100 | | | Oji Paper Co. Ltd. (Paper & Forest Products) | | | 18 | |
| | |
| | 700 | | | OMRON Corp. (Electronic Equipment, Instruments & Components) | | | 37 | |
| | |
| | 1,400 | | | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 25 | |
| | |
| | 200 | | | Oracle Corp. Japan (Software) | | | 15 | |
| | |
| | 800 | | | Oriental Land Co. Ltd. (Hotels, Restaurants & Leisure) | | | 99 | |
| | |
| | 4,800 | | | ORIX Corp. (Diversified Financial Services) | | | 72 | |
| | |
| | 1,400 | | | Osaka Gas Co. Ltd. (Gas Utilities) | | | 24 | |
| | |
| | 400 | | | OTSUKA Corp. (IT Services) | | | 16 | |
| | |
| | 1,400 | | | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | | | 46 | |
| | |
| | 8,000 | | | Panasonic Corp. (Household Durables) | | | 67 | |
| | |
| | 400 | | | Park24 Co. Ltd. (Commercial Services & Supplies) | | | 9 | |
| | |
| | 600 | | | Persol Holdings Co. Ltd. (Professional Services) | | | 14 | |
| | |
| | 3,100 | | | Rakuten, Inc. (Internet & Direct Marketing Retail) | | | 37 | |
| | |
| | 4,400 | | | Recruit Holdings Co. Ltd. (Professional Services) (b) | | | 147 | |
| | |
| | 7,600 | | | Resona Holdings, Inc. (Banks) | | | 32 | |
| | |
| | 2,400 | | | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 24 | |
| | |
| | 100 | | | Rinnai Corp. (Household Durables) | | | 6 | |
| | |
| | 400 | | | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 27 | |
| | |
| | 200 | | | Sankyo Co. Ltd. (Leisure Products) | | | 7 | |
| | |
| | 1,300 | | | Santen Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 22 | |
| | |
| | 800 | | | SECOM Co. Ltd. (Commercial Services & Supplies) | | | 69 | |
| | |
| | 600 | | | Sega Sammy Holdings, Inc. (Leisure Products) | | | 7 | |
| | |
| | 700 | | | Seibu Holdings, Inc. (Industrial Conglomerates) | | | 12 | |
| | |
| | 1,000 | | | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | | | 16 | |
| | |
| | 1,300 | | | Sekisui Chemical Co. Ltd. (Household Durables) | | | 20 | |
| | |
| | 2,200 | | | Sekisui House Ltd. (Household Durables) | | | 36 | |
| | |
| | 2,800 | | | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | | | 95 | |
| | |
| | 2,200 | | | Seven Bank Ltd. (Banks) | | | 6 | |
| | |
| | 500 | | | SG Holdings Co. Ltd. (Air Freight & Logistics) | | | 14 | |
| | |
| | 800 | | | Sharp Corp. (Household Durables) (b) | | | 9 | |
| | |
| | 800 | | | Shimadzu Corp. (Electronic Equipment, Instruments & Components) | | | 20 | |
| | |
| | 300 | | | Shimano, Inc. (Leisure Products) | | | 45 | |
| | |
| | 2,100 | | | Shimizu Corp. (Construction & Engineering) | | | 17 | |
| | |
| | 1,400 | | | Shin-Etsu Chemical Co. Ltd. (Chemicals) | | | 131 | |
| | |
| | 600 | | | Shinsei Bank Ltd. (Banks) | | | 9 | |
| | |
| | 1,100 | | | Shionogi & Co. Ltd. (Pharmaceuticals) | | | 64 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 1,500 | | | Shiseido Co. Ltd. (Personal Products) | | $ | 113 | |
| | |
| | 500 | | | Showa Denko KK (Chemicals) | | | 15 | |
| | |
| | 6,100 | | | Softbank Corp. (Wireless Telecommunication Services) | | | 79 | |
| | |
| | 6,200 | | | SoftBank Group Corp. (Wireless Telecommunication Services) | | | 299 | |
| | |
| | 300 | | | Sohgo Security Services Co. Ltd. (Commercial Services & Supplies) | | | 14 | |
| | |
| | 1,200 | | | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | | | 46 | |
| | |
| | 4,700 | | | Sony Corp. (Household Durables) | | | 247 | |
| | |
| | 500 | | | Stanley Electric Co. Ltd. (Auto Components) | | | 12 | |
| | |
| | 700 | | | Start Today Co. Ltd. (Internet & Direct Marketing Retail) | | | 13 | |
| | |
| | 6,300 | | | Sumitomo Chemical Co. Ltd. (Chemicals) | | | 29 | |
| | |
| | 4,300 | | | Sumitomo Corp. (Trading Companies & Distributors) | | | 65 | |
| | |
| | 2,700 | | | Sumitomo Electric Industries Ltd. (Auto Components) | | | 36 | |
| | |
| | 400 | | | Sumitomo Heavy Industries Ltd. (Machinery) | | | 14 | |
| | |
| | 800 | | | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | | | 24 | |
| | |
| | 5,000 | | | Sumitomo Mitsui Financial Group, Inc. (Banks) | | | 177 | |
| | |
| | 1,300 | | | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | | | 47 | |
| | |
| | 600 | | | Sumitomo Rubber Industries Ltd. (Auto Components) | | | 7 | |
| | |
| | 300 | | | Sundrug Co. Ltd. (Food & Staples Retailing) | | | 8 | |
| | |
| | 500 | | | Suntory Beverage & Food Ltd. (Beverages) | | | 22 | |
| | |
| | 300 | | | SUZUKEN Co. Ltd. (Health Care Providers & Services) | | | 18 | |
| | |
| | 600 | | | Sysmex Corp. (Health Care Equipment & Supplies) | | | 39 | |
| | |
| | 2,000 | | | T&D Holdings, Inc. (Insurance) | | | 22 | |
| | |
| | 600 | | | Taiheiyo Cement Corp. (Construction Materials) | | | 18 | |
| | |
| | 700 | | | Taisei Corp. (Construction & Engineering) | | | 26 | |
| | |
| | 200 | | | Taisho Pharmaceutical Holdings Co. Ltd. (Pharmaceuticals) | | | 15 | |
| | |
| | 5,500 | | | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 197 | |
| | |
| | 500 | | | TDK Corp. (Electronic Equipment, Instruments & Components) | | | 39 | |
| | |
| | 600 | | | Teijin Ltd. (Chemicals) | | | 10 | |
| | |
| | 2,400 | | | Terumo Corp. (Health Care Equipment & Supplies) | | | 72 | |
| | |
| | 2,000 | | | The Chiba Bank Ltd. (Banks) | | | 10 | |
| | |
| | 1,000 | | | The Chugoku Electric Power Company, Inc. (Electric Utilities) | | | 13 | |
| | |
| | 4,200 | | | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | | | 64 | |
| | |
| | 2,500 | | | The Kansai Electric Power Co., Inc. (Electric Utilities) | | | 29 | |
| | |
| | 1,700 | | | The Shizuoka Bank Ltd. (Banks) | | | 13 | |
| | |
| | 400 | | | THK Co. Ltd. (Machinery) | | | 10 | |
| | |
| | 700 | | | Tobu Railway Co. Ltd. (Road & Rail) | | | 20 | |
| | |
| | 400 | | | Toho Co. Ltd. (Entertainment) | | | 17 | |
| | |
| | 400 | | | Toho Gas Co. Ltd. (Gas Utilities) | | | 15 | |
| | |
| | 1,500 | | | Tohoku Electric Power Co., Inc. (Electric Utilities) | | | 15 | |
| | |
| | 2,400 | | | Tokio Marine Holdings, Inc. (Insurance) | | | 120 | |
See accompanying notes to financial statements.
135
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 600 | | | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | | $ | 84 | |
| | |
| | 2,200 | | | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) (b) | | | 12 | |
| | |
| | 1,600 | | | Tokyo Gas Co. Ltd. (Gas Utilities) | | | 38 | |
| | |
| | 1,800 | | | Tokyu Corp. (Road & Rail) | | | 32 | |
| | |
| | 900 | | | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | | | 14 | |
| | |
| | 5,000 | | | Toray Industries, Inc. (Chemicals) | | | 38 | |
| | |
| | 900 | | | Tosoh Corp. (Chemicals) | | | 13 | |
| | |
| | 500 | | | TOTO Ltd. (Building Products) | | | 20 | |
| | |
| | 500 | | | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | | | 10 | |
| | |
| | 300 | | | Toyo Suisan Kaisha Ltd. (Food Products) | | | 12 | |
| | |
| | 200 | | | Toyoda Gosei Co. Ltd. (Auto Components) | | | 4 | |
| | |
| | 8,500 | | | Toyota Motor Corp. (Automobiles) | | | 528 | |
| | |
| | 900 | | | Toyota Tsusho Corp. (Trading Companies & Distributors) | | | 27 | |
| | |
| | 500 | | | Trend Micro, Inc. (Software) | | | 22 | |
| | |
| | 200 | | | Tsuruha Holdings, Inc. (Food & Staples Retailing) | | | 19 | |
| | |
| | 1,500 | | | Unicharm Corp. (Household Products) | | | 45 | |
| | |
| | 800 | | | USS Co. Ltd. (Specialty Retail) | | | 16 | |
| | |
| | 200 | | | Welcia Holdings Co. Ltd. (Food & Staples Retailing) | | | 8 | |
| | |
| | 600 | | | West Japan Railway Co. (Road & Rail) | | | 49 | |
| | |
| | 10,200 | | | Yahoo Japan Corp. (Interactive Media & Services) | | | 30 | |
| | |
| | 500 | | | Yakult Honsha Co. Ltd. (Food Products) (b) | | | 29 | |
| | |
| | 2,300 | | | Yamada Denki Co. Ltd. (Specialty Retail) | | | 10 | |
| | |
| | 500 | | | Yamaha Corp. (Leisure Products) | | | 24 | |
| | |
| | 1,000 | | | Yamaha Motor Co. Ltd. (Automobiles) | | | 18 | |
| | |
| | 400 | | | Yamazaki Baking Co. Ltd. (Food Products) | | | 6 | |
| | |
| | 900 | | | Yaskawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 31 | |
| | |
| | 800 | | | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 16 | |
| | | | | | | | |
| | | | | | | 11,351 | |
| | | | | | | | |
| |
| | | | Jersey — 0.14% | |
| | |
| | 41,427 | | | Glencore International PLC (Metals & Mining) (b) | | | 143 | |
| | |
| | 4,923 | | | WPP PLC (Media) | | | 62 | |
| | | | | | | | |
| | | | | | | 205 | |
| | | | | | | | |
| |
| | | | Liberia — 0.05% | |
| | |
| | 643 | | | Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure) | | | 78 | |
| | | | | | | | |
| |
| | | | Luxembourg — 0.04% | |
| | |
| | 239 | | | Millicom International Cellular SA (Wireless Telecommunication Services) | | | 13 | |
| | |
| | 140 | | | RTL Group (Media) | | | 7 | |
| | |
| | 1,316 | | | SES – FDR, Class – A (Media) (b) | | | 22 | |
| | |
| | 1,705 | | | Tenaris SA (Energy Equipment & Services) | | | 22 | |
| | | | | | | | |
| | | | | | | 64 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Netherlands — 1.58% | |
| | |
| | 1,528 | | | ABN AMRO Group N.V. (Banks) (b) | | $ | 33 | |
| | |
| | 38 | | | Adyen N.V. (IT Services) (a)(b) | | | 29 | |
| | |
| | 6,433 | | | AEGON N.V. (Insurance) | | | 32 | |
| | |
| | 477 | | | Aercap Holdings N.V. (Trading Companies & Distributors) (a) | | | 25 | |
| | |
| | 2,158 | | | Airbus Group N.V. (Aerospace & Defense) | | | 305 | |
| | |
| | 824 | | | Akzo Nobel N.V. (Chemicals) | | | 77 | |
| | |
| | 1,577 | | | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) (b) | | | 328 | |
| | |
| | 3,754 | | | CNH Industrial N.V. (Machinery) | | | 39 | |
| | |
| | 454 | | | Exor N.V. (Diversified Financial Services) | | | 32 | |
| | |
| | 416 | | | Heineken Holding N.V., Class – A (Beverages) | | | 44 | |
| | |
| | 973 | | | Heineken N.V. (Beverages) | | | 108 | |
| | |
| | 14,473 | | | ING Groep N.V. (Banks) | | | 167 | |
| | |
| | 13,568 | | | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | | | 42 | |
| | |
| | 4,487 | | | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | | | 101 | |
| | |
| | 656 | | | Koninklijke DSM N.V. (Chemicals) | | | 81 | |
| | |
| | 3,448 | | | Koninklijke Philips Electronics N.V. (Health Care Equipment & Supplies) | | | 150 | |
| | |
| | 253 | | | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | | | 12 | |
| | |
| | 1,115 | | | LyondellBasell Industries N.V., Class – A (Chemicals) | | | 96 | |
| | |
| | 1,178 | | | NN Group N.V. (Insurance) (b) | | | 47 | |
| | |
| | 1,108 | | | NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 108 | |
| | |
| | 834 | | | QIAGEN NV (Life Sciences Tools & Services) (a) | | | 34 | |
| | |
| | 431 | | | Randstad Holding N.V. (Professional Services) | | | 24 | |
| | |
| | 2,466 | | | STMicroelectronics N.V. (Semiconductors & Semiconductor Equipment) | | | 44 | |
| | |
| | 5,399 | | | Unilever N.V. (Personal Products) | | | 328 | |
| | |
| | 1,011 | | | Wolters Kluwer N.V. (Professional Services) | | | 73 | |
| | | | | | | | |
| | | | | | | 2,359 | |
| | | | | | | | |
| |
| | | | New Zealand — 0.08% | |
| | |
| | 2,648 | | | A2 Milk Co. Ltd. (Food Products) (a) | | | 26 | |
| | |
| | 3,489 | | | Auckland International Airport Ltd. (Transportation Infrastructure) | | | 23 | |
| | |
| | 2,071 | | | Fisher & Paykel Healthcare COR (Health Care Equipment & Supplies) | | | 22 | |
| | |
| | 3,082 | | | Fletcher Building Ltd. (Construction Materials) | | | 10 | |
| | |
| | 4,627 | | | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | | | 15 | |
| | |
| | 1,444 | | | Ryman Healthcare Ltd. (Health Care Providers & Services) | | | 11 | |
| | |
| | 6,631 | | | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | | | 18 | |
| | | | | | | | |
| | | | | | | 125 | |
| | | | | | | | |
| |
| | | | Norway — 0.23% | |
| | |
| | 390 | | | Aker BP ASA (Oil, Gas & Consumable Fuels) | | | 11 | |
| | |
| | 3,476 | | | DNB ASA (Banks) | | | 65 | |
| | |
| | 3,857 | | | Equinor ASA (Oil, Gas & Consumable Fuels) | | | 76 | |
| | |
| | 722 | | | Gjensidige Forsikring ASA (Insurance) | | | 15 | |
| | |
| | 1,584 | | | Marine Harvest ASA (Food Products) | | | 38 | |
| | |
| | 4,856 | | | Norsk Hydro ASA (Metals & Mining) | | | 17 | |
See accompanying notes to financial statements.
136
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Norway (continued) | |
| | |
| | 2,759 | | | Orkla ASA (Food Products) | | $ | 24 | |
| | |
| | 353 | | | Schibsted ASA (Media) (b) | | | 9 | |
| | |
| | 2,866 | | | Telenor ASA (Diversified Telecommunication Services) | | | 61 | |
| | |
| | 642 | | | Yara International ASA (Chemicals) | | | 31 | |
| | | | | | | | |
| | | | | | | 347 | |
| | | | | | | | |
| |
| | | | Papua New Guinea — 0.02% | |
| | |
| | 4,952 | | | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | | | 25 | |
| | | | | | | | |
| |
| | | | Portugal — 0.06% | |
| | |
| | 10,361 | | | EDP – Energias de Portugal SA (Electric Utilities) | | | 39 | |
| | |
| | 1,810 | | | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) (b) | | | 28 | |
| | |
| | 909 | | | Jeronimo Martins, SGPS, SA (Food & Staples Retailing) | | | 15 | |
| | | | | | | | |
| | | | | | | 82 | |
| | | | | | | | |
| |
| | | | Singapore — 0.46% | |
| | |
| | 9,000 | | | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 21 | |
| | |
| | 9,500 | | | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | | | 15 | |
| | |
| | 9,300 | | | Capitaland Ltd. (Real Estate Management & Development) | | | 25 | |
| | |
| | 9,300 | | | CapitaMall Trust (Equity Real Estate Investment Trusts) | | | 18 | |
| | |
| | 1,600 | | | City Developments Ltd. (Real Estate Management & Development) | | | 11 | |
| | |
| | 7,800 | | | ComfortDelGro Corp. Ltd. (Road & Rail) | | | 15 | |
| | |
| | 6,700 | | | DBS Group Holdings Ltd. (Banks) | | | 129 | |
| | |
| | 1,883 | | | Flextronics International Ltd. (Electronic Equipment, Instruments & Components) (a) | | | 18 | |
| | |
| | 21,800 | | | Genting Singapore PLC (Hotels, Restaurants & Leisure) | | | 15 | |
| | |
| | 400 | | | Jardine Cycle & Carriage Ltd. (Distributors) | | | 11 | |
| | |
| | 5,300 | | | Keppel Corp. Ltd. (Industrial Conglomerates) | | | 27 | |
| | |
| | 11,600 | | | Oversea-Chinese Banking Corp. Ltd. (Banks) | | | 98 | |
| | |
| | 2,400 | | | SATS Ltd. (Transportation Infrastructure) (b) | | | 9 | |
| | |
| | 3,600 | | | SembCorp Industries Ltd. (Industrial Conglomerates) | | | 6 | |
| | |
| | 1,900 | | | Singapore Airlines Ltd. (Airlines) | | | 13 | |
| | |
| | 3,600 | | | Singapore Exchange Ltd. (Capital Markets) | | | 21 | |
| | |
| | 5,800 | | | Singapore Press Holdings Ltd. (Media) | | | 10 | |
| | |
| | 5,600 | | | Singapore Tech Engineering (Aerospace & Defense) | | | 17 | |
| | |
| | 29,500 | | | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | | | 76 | |
| | |
| | 6,800 | | | Suntec REIT (Equity Real Estate Investment Trusts) | | | 10 | |
| | |
| | 4,600 | | | United Overseas Bank Ltd. (Banks) | | | 89 | |
| | |
| | 1,700 | | | United Overseas Land Ltd. (Real Estate Management & Development) | | | 9 | |
| | |
| | 6,900 | | | Wilmar International Ltd. (Food Products) | | | 19 | |
| | | | | | | | |
| | | | | | | 682 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Spain — 1.03% | |
| | |
| | 909 | | | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | | $ | 36 | |
| | |
| | 244 | | | Aena SME SA (Transportation Infrastructure) (b) | | | 48 | |
| | |
| | 1,636 | | | Amadeus IT Holding SA, A Shares (IT Services) | | | 130 | |
| | |
| | 24,835 | | | Banco Bilbao Vizcaya Argentaria SA (Banks) | | | 138 | |
| | |
| | 20,321 | | | Banco de Sabadell SA (Banks) | | | 21 | |
| | |
| | 60,193 | | | Banco Santander SA (Banks) (b) | | | 280 | |
| | |
| | 4,456 | | | Bankia SA (Banks) (b) | | | 11 | |
| | |
| | 2,434 | | | Bankinter SA (Banks) | | | 17 | |
| | |
| | 12,960 | | | CaixaBank SA (Banks) | | | 37 | |
| | |
| | 701 | | | Cellnex Telecom SA (Diversified Telecommunication Services) (b) | | | 26 | |
| | |
| | 3,893 | | | Corporacion Mapfre (Insurance) | | | 11 | |
| | |
| | 819 | | | Enagas (Oil, Gas & Consumable Fuels) | | | 22 | |
| | |
| | 1,147 | | | Endesa (Electric Utilities) | | | 29 | |
| | |
| | 1,758 | | | Ferrovial SA (Construction & Engineering) (b) | | | 45 | |
| | |
| | 861 | | | Gamesa Corporacion Tecnologica SA (Electrical Equipment) | | | 14 | |
| | |
| | 1,234 | | | Gas Natural SDG SA (Gas Utilities) | | | 34 | |
| | |
| | 1,077 | | | Grifols SA (Biotechnology) | | | 32 | |
| | |
| | 21,798 | | | Iberdrola SA (Electric Utilities) | | | 217 | |
| | |
| | 4,071 | | | Industria de Diseno Textil SA (Specialty Retail) | | | 122 | |
| | |
| | 1,563 | | | Red Electrica Corp. (Electric Utilities) | | | 33 | |
| | |
| | 5,555 | | | Repsol SA (Oil, Gas & Consumable Fuels) | | | 87 | |
| | |
| | 17,527 | | | Telefonica SA (Diversified Telecommunication Services) | | | 144 | |
| | | | | | | | |
| | | | | | | 1,534 | |
| | | | | | | | |
| |
| | | | Sweden — 0.85% | |
| | |
| | 1,137 | | | Alfa Laval AB (Machinery) | | | 25 | |
| | |
| | 3,624 | | | Assa Abloy AB, B Shares (Building Products) | | | 82 | |
| | |
| | 2,427 | | | Atlas Copco AB, A Shares (Machinery) | | | 78 | |
| | |
| | 1,409 | | | Atlas Copco AB, Class – B (Machinery) | | | 41 | |
| | |
| | 988 | | | Boliden AB (Metals & Mining) | | | 25 | |
| | |
| | 815 | | | Electrolux AB, B Shares (Household Durables) | | | 21 | |
| | |
| | 2,380 | | | Epiroc AB, Class – A (Machinery) | | | 25 | |
| | |
| | 1,408 | | | Epiroc AB, Class – B (Machinery) | | | 14 | |
| | |
| | 2,190 | | | Essity Aktiebolag, Class – B (Household Products) | | | 67 | |
| | |
| | 3,181 | | | Hennes & Mauritz AB, B Shares (Specialty Retail) | | | 57 | |
| | |
| | 941 | | | Hexagon AB (Electronic Equipment, Instruments & Components) | | | 52 | |
| | |
| | 1,508 | | | Husqvarna AB (Household Durables) | | | 14 | |
| | |
| | 327 | | | ICA Gruppen AB (Food & Staples Retailing) | | | 14 | |
| | |
| | 603 | | | Industrivarden AB, C Shares (Diversified Financial Services) | | | 13 | |
| | |
| | 1,647 | | | Investor AB, B Shares (Diversified Financial Services) | | | 80 | |
| | |
| | 873 | | | Kinnevik AB (Diversified Financial Services) | | | 23 | |
| | |
| | 274 | | | L E Lundbergforetagen AB (Diversified Financial Services) | | | 10 | |
| | |
| | 821 | | | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) | | | 26 | |
| | |
| | 4,079 | | | Sandvik AB (Machinery) | | | 75 | |
| | |
| | 1,131 | | | Securitas AB, B Shares (Commercial Services & Supplies) | | | 20 | |
See accompanying notes to financial statements.
137
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Sweden (continued) | |
| | |
| | 5,878 | | | Skandinaviska Enskilda Banken AB, Class – A (Banks) | | $ | 54 | |
| | |
| | 1,467 | | | Skanska AB, B Shares (Construction & Engineering) | | | 27 | |
| | |
| | 1,372 | | | SKF AB, B Shares (Machinery) | | | 25 | |
| | |
| | 5,515 | | | Svenska Handelsbanken AB, A Shares (Banks) | | | 55 | |
| | |
| | 3,270 | | | Swedbank AB, A Shares (Banks) | | | 49 | |
| | |
| | 636 | | | Swedish Match AB (Tobacco) | | | 27 | |
| | |
| | 1,803 | | | Tele2 AB, B Shares (Wireless Telecommunication Services) | | | 26 | |
| | |
| | 11,516 | | | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | | | 109 | |
| | |
| | 11,166 | | | TeliaSonera AB (Diversified Telecommunication Services) (b) | | | 50 | |
| | |
| | 5,373 | | | Volvo AB, B Shares (Machinery) | | | 84 | |
| | | | | | | | |
| | | | | | | 1,268 | |
| | | | | | | | |
| |
| | | | Switzerland — 3.49% | |
| | |
| | 6,867 | | | ABB Ltd., Registered Shares (Electrical Equipment) | | | 138 | |
| | |
| | 571 | | | Adecco SA, Registered Shares (Professional Services) | | | 34 | |
| | |
| | 1,629 | | | Alcon, Inc. (Health Care Equipment & Supplies) (a) | | | 100 | |
| | |
| | 176 | | | Baloise Holding AG, Registered Shares (Insurance) | | | 31 | |
| | |
| | 8 | | | Barry Callebaut AG (Food Products) (b) | | | 16 | |
| | |
| | 4 | | | Chocoladefabriken Lindt & Sprungil AG (Food Products) | | | 29 | |
| | |
| | 1,706 | | | Chubb Ltd. (Insurance) | | | 251 | |
| | |
| | 719 | | | Clariant AG (Chemicals) | | | 15 | |
| | |
| | 725 | | | Coca-Cola HBC AG (Beverages) | | | 27 | |
| | |
| | 1,942 | | | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | | | 165 | |
| | |
| | 9,541 | | | Credit Suisse Group AG (Capital Markets) | | | 114 | |
| | |
| | 155 | | | Dufry AG (Specialty Retail) | | | 13 | |
| | |
| | 30 | | | EMS-Chemie Holding AG, Registered Shares (Chemicals) | | | 19 | |
| | |
| | 479 | | | Garmin Ltd. (Household Durables) | | | 38 | |
| | |
| | 134 | | | Geberit AG (Building Products) | | | 63 | |
| | |
| | 34 | | | Givaudan SA (Chemicals) | | | 96 | |
| | |
| | 808 | | | Julius Baer Group Ltd. (Capital Markets) | | | 36 | |
| | |
| | 195 | | | Kuehne & Nagel International Ltd. (Marine) | | | 29 | |
| | |
| | 1,826 | | | LafargeHolcim Ltd., Registered Shares (Construction Materials) (b) | | | 89 | |
| | |
| | 270 | | | Lonza Group AG (Life Sciences Tools & Services) (b) | | | 91 | |
| | |
| | 11,355 | | | Nestle SA (Food Products) | | | 1,176 | |
| | |
| | 8,013 | | | Novartis AG, Registered Shares (Pharmaceuticals) | | | 731 | |
| | |
| | 140 | | | Pargesa Holding SA (Diversified Financial Services) | | | 11 | |
| | |
| | 67 | | | Partners Group Holding AG (Capital Markets) | | | 53 | |
| | |
| | 2,597 | | | Roche Holding AG (Pharmaceuticals) | | | 731 | |
| | |
| | 148 | | | Schindler Holding AG (Machinery) | | | 33 | |
| | |
| | 72 | | | Schindler Holding AG (Machinery) | | | 16 | |
| | |
| | 21 | | | SGS SA, Registered Shares (Professional Services) | | | 54 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Switzerland (continued) | |
| | |
| | 461 | | | Sika AG, Registered Shares (Chemicals) | | $ | 79 | |
| | |
| | 201 | | | Sonova Holding AG, Registered Shares (Health Care Equipment & Supplies) (b) | | | 46 | |
| | |
| | 38 | | | Straumann Holding AG (Health Care Equipment & Supplies) | | | 34 | |
| | |
| | 124 | | | Swiss Life Holding AG (Insurance) | | | 62 | |
| | |
| | 274 | | | Swiss Prime Site AG (Real Estate Management & Development) | | | 24 | |
| | |
| | 1,142 | | | Swiss Re AG (Insurance) | | | 116 | |
| | |
| | 93 | | | Swisscom AG (Diversified Telecommunication Services) | | | 47 | |
| | |
| | 1,300 | | | TE Connectivity Ltd. (Electronic Equipment, Instruments & Components) | | | 125 | |
| | |
| | 231 | | | Temenos Group AG (Software) | | | 41 | |
| | |
| | 202 | | | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | | | 11 | |
| | |
| | 106 | | | The Swatch Group AG, B Shares (Textiles, Apparel & Luxury Goods) | | | 30 | |
| | |
| | 14,338 | | | UBS Group AG (Capital Markets) | | | 170 | |
| | |
| | 164 | | | Vifor Pharma AG (Pharmaceuticals) | | | 24 | |
| | |
| | 562 | | | Zurich Financial Services AG (Insurance) | | | 196 | |
| | | | | | | | |
| | | | | | | 5,204 | |
| | | | | | | | |
| |
| | | | United Arab Emirates — 0.01% | |
| | |
| | 339 | | | NMC Health PLC (Health Care Providers & Services) (b) | | | 10 | |
| | | | | | | | |
| |
| | | | United Kingdom — 6.00% | |
| | |
| | 3,851 | | | 3i Group PLC (Capital Markets) | | | 54 | |
| | |
| | 682 | | | Admiral Group PLC (Insurance) | | | 19 | |
| | |
| | 3,990 | | | Anglo American PLC (Metals & Mining) | | | 114 | |
| | |
| | 1,424 | | | Antofagasta PLC (Metals & Mining) | | | 17 | |
| | |
| | 896 | | | Aon PLC (Insurance) | | | 173 | |
| | |
| | 940 | | | Aptiv PLC (Auto Components) | | | 76 | |
| | |
| | 1,707 | | | Ashtead Group PLC (Trading Companies & Distributors) | | | 49 | |
| | |
| | 1,286 | | | Associated British Foods PLC (Food Products) | | | 40 | |
| | |
| | 4,691 | | | AstraZeneca PLC (Pharmaceuticals) (b) | | | 384 | |
| | |
| | 3,374 | | | Auto Trader Group PLC (Interactive Media & Services) (b) | | | 23 | |
| | |
| | 15,003 | | | Aviva PLC (Insurance) | | | 79 | |
| | |
| | 11,549 | | | BAE Systems PLC (Aerospace & Defense) | | | 72 | |
| | |
| | 63,897 | | | Barclays PLC (Banks) | | | 122 | |
| | |
| | 4,260 | | | Barratt Developments PLC (Household Durables) | | | 32 | |
| | |
| | 74,938 | | | BP PLC (Oil, Gas & Consumable Fuels) | | | 522 | |
| | |
| | 8,500 | | | British American Tobacco PLC (Tobacco) | | | 297 | |
| | |
| | 3,272 | | | British Land Co. PLC (Equity Real Estate Investment Trusts) | | | 22 | |
| | |
| | 30,505 | | | BT Group PLC (Diversified Telecommunication Services) | | | 76 | |
| | |
| | 1,215 | | | Bunzl PLC (Trading Companies & Distributors) | | | 32 | |
| | |
| | 1,486 | | | Burberry Group PLC (Textiles, Apparel & Luxury Goods) (b) | | | 35 | |
| | |
| | 600 | | | Capri Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | | | 21 | |
| | |
| | 20,572 | | | Centrica PLC (Multi-Utilities) (b) | | | 23 | |
| | |
| | 856 | | | Coca-Cola European Partners PLC (Beverages) | | | 48 | |
| | |
| | 5,907 | | | Compass Group PLC (Hotels, Restaurants & Leisure) | | | 142 | |
See accompanying notes to financial statements.
138
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 464 | | | Croda International PLC (Chemicals) | | $ | 30 | |
| | |
| | 8,952 | | | Diageo PLC (Beverages) | | | 386 | |
| | |
| | 4,966 | | | Direct Line Insurance Group PLC (Insurance) | | | 21 | |
| | |
| | 931 | | | easyJet PLC (Airlines) | | | 11 | |
| | |
| | 838 | | | Ferguson PLC (Trading Companies & Distributors) | | | 60 | |
| | |
| | 798 | | | Fresnillo PLC (Metals & Mining) | | | 9 | |
| | |
| | 18,382 | | | GlaxoSmithKline PLC (Pharmaceuticals) | | | 368 | |
| | |
| | 1,371 | | | Halma PLC (Electronic Equipment, Instruments & Components) | | | 35 | |
| | |
| | 1,028 | | | Hargreaves Lansdown PLC (Capital Markets) | | | 25 | |
| | |
| | 74,135 | | | HSBC Holdings PLC (Banks) | | | 618 | |
| | |
| | 3,461 | | | Imperial Tobacco Group PLC (Tobacco) | | | 81 | |
| | |
| | 4,520 | | | Informa PLC (Media) | | | 48 | |
| | |
| | 622 | | | Intercontinental Hotels Group PLC (Hotels, Restaurants & Leisure) | | | 41 | |
| | |
| | 583 | | | Intertek Group PLC (Professional Services) | | | 41 | |
| | |
| | 2,463 | | | Investec PLC (Capital Markets) | | | 16 | |
| | |
| | 13,083 | | | ITV PLC (Media) | | | 18 | |
| | |
| | 6,364 | | | J Sainsbury PLC (Food & Staples Retailing) | | | 16 | |
| | |
| | 2,461 | | | John Wood Group PLC (Energy Equipment & Services) | | | 14 | |
| | |
| | 699 | | | Johnson Matthey PLC (Chemicals) | | | 30 | |
| | |
| | 7,620 | | | Kingfisher PLC (Specialty Retail) | | | 21 | |
| | |
| | 2,543 | | | Land Securities Group PLC (Equity Real Estate Investment Trusts) | | | 27 | |
| | |
| | 21,540 | | | Legal & General Group PLC (Insurance) | | | 74 | |
| | |
| | 664 | | | Liberty Global PLC, Class – A (Media) (a) | | | 18 | |
| | |
| | 1,807 | | | Liberty Global PLC, Class – C (Media) (a) | | | 48 | |
| | |
| | 2,047 | | | Linde PLC (Chemicals) | | | 411 | |
| | |
| | 259,329 | | | Lloyds Banking Group PLC (Banks) | | | 186 | |
| | |
| | 1,133 | | | London Stock Exchange Group (Capital Markets) | | | 80 | |
| | |
| | 8,536 | | | Marks & Spencer Group PLC (Multiline Retail) | | | 23 | |
| | |
| | 2,806 | | | Meggitt PLC (Aerospace & Defense) | | | 19 | |
| | |
| | 17,545 | | | Melrose Industries PLC (Electrical Equipment) | | | 40 | |
| | |
| | 2,584 | | | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) (b) | | | 15 | |
| | |
| | 1,237 | | | Micro Focus International PLC (Software) | | | 33 | |
| | |
| | 1,327 | | | Mondi PLC (Paper & Forest Products) | | | 30 | |
| | |
| | 12,706 | | | National Grid PLC (Multi-Utilities) | | | 135 | |
| | |
| | 497 | | | Next PLC (Multiline Retail) | | | 35 | |
| | |
| | 1,641 | | | Ocado Group PLC (Internet & Direct Marketing Retail) (a)(b) | | | 24 | |
| | |
| | 2,821 | | | Pearson PLC (Media) | | | 29 | |
| | |
| | 1,146 | | | Persimmon PLC (Household Durables) | | | 29 | |
| | |
| | 9,630 | | | Prudential PLC (Insurance) | | | 210 | |
| | |
| | 2,626 | | | RecKitt Benckiser Group PLC (Household Products) | | | 207 | |
| | |
| | 7,296 | | | RELX PLC (Professional Services) | | | 177 | |
| | |
| | 6,679 | | | Rentokil Initial PLC (Commercial Services & Supplies) | | | 34 | |
| | |
| | 4,228 | | | Rio Tinto PLC (Metals & Mining) | | | 261 | |
| | |
| | 6,165 | | | Rolls-Royce Holdings PLC (Aerospace & Defense) | | | 66 | |
| | |
| | 17,404 | | | Royal Bank of Scotland Group PLC (Banks) (b) | | | 49 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 16,374 | | | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | | $ | 533 | |
| | |
| | 13,859 | | | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | | | 454 | |
| | |
| | 3,709 | | | RSA Insurance Group PLC (Insurance) | | | 27 | |
| | |
| | 448 | | | Schroders PLC (Capital Markets) | | | 17 | |
| | |
| | 3,916 | | | SEGRO PLC (Equity Real Estate Investment Trusts) (b) | | | 37 | |
| | |
| | 593 | | | Sensata Technologies Holding PLC (Electrical Equipment) (a) | | | 29 | |
| | |
| | 856 | | | Severn Trent PLC (Water Utilities) | | | 22 | |
| | |
| | 3,159 | | | Smith & Nephew PLC (Health Care Equipment & Supplies) | | | 69 | |
| | |
| | 1,430 | | | Smiths Group PLC (Industrial Conglomerates) | | | 28 | |
| | |
| | 266 | | | Spirax-Sarco Engineering PLC (Machinery) | | | 31 | |
| | |
| | 3,708 | | | SSE PLC (Electric Utilities) | | | 53 | |
| | |
| | 1,912 | | | St. James Place PLC (Capital Markets) | | | 27 | |
| | |
| | 10,572 | | | Standard Chartered PLC (Banks) | | | 96 | |
| | |
| | 8,996 | | | Standard Life Aberdeen PLC (Diversified Financial Services) | | | 34 | |
| | |
| | 13,972 | | | Taylor Wimpey PLC (Household Durables) | | | 28 | |
| | |
| | 1,544 | | | TechnipFMC PLC (Energy Equipment & Services) | | | 40 | |
| | |
| | 36,372 | | | Tesco PLC (Food & Staples Retailing) | | | 105 | |
| | |
| | 536 | | | The Berkeley Group Holdings PLC (Household Durables) | | | 25 | |
| | |
| | 3,920 | | | The Sage Group PLC (Software) | | | 39 | |
| | |
| | 938 | | | The Weir Group PLC (Machinery) (b) | | | 18 | |
| | |
| | 4,117 | | | Unilever PLC (Personal Products) | | | 256 | |
| | |
| | 2,868 | | | United Utilities Group PLC (Water Utilities) | | | 29 | |
| | |
| | 99,403 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 163 | |
| | |
| | 651 | | | Whitbread PLC (Hotels, Restaurants & Leisure) | | | 38 | |
| | |
| | 8,553 | | | William Morrison Supermarkets PLC (Food & Staples Retailing) | | | 22 | |
| | |
| | 485 | | | Willis Towers Watson PLC (Insurance) | | | 93 | |
| | | | | | | | |
| | | | | | | 8,934 | |
| | | | | | | | |
| |
| | | | United States — 55.61% | |
| | |
| | 2,140 | | | 3M Co. (Industrial Conglomerates) | | | 371 | |
| | |
| | 512 | | | A.O. Smith Corp. (Building Products) | | | 24 | |
| | |
| | 6,520 | | | Abbott Laboratories (Health Care Equipment & Supplies) | | | 548 | |
| | |
| | 5,479 | | | AbbVie, Inc. (Biotechnology) | | | 398 | |
| | |
| | 162 | | | Abiomed, Inc. (Health Care Equipment & Supplies) (a) | | | 42 | |
| | |
| | 2,368 | | | Accenture PLC, Class – A (IT Services) | | | 438 | |
| | |
| | 2,859 | | | Activision Blizzard, Inc. (Entertainment) | | | 135 | |
| | |
| | 145 | | | Acuity Brands, Inc. (Electrical Equipment) | | | 20 | |
| | |
| | 1,811 | | | Adobe Systems, Inc. (Software) (a) | | | 533 | |
| | |
| | 258 | | | Advance Auto Parts, Inc. (Specialty Retail) | | | 40 | |
| | |
| | 3,583 | | | Advanced Micro Devices, Inc. (Semiconductors & Semiconductor Equipment) (a) | | | 109 | |
| | |
| | 188 | | | Affiliated Managers Group, Inc. (Capital Markets) | | | 17 | |
| | |
| | 1,149 | | | Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 86 | |
| | |
| | 819 | | | Air Products & Chemicals, Inc. (Chemicals) | | | 185 | |
| | |
| | 646 | | | Akamai Technologies, Inc. (IT Services) (a) | | | 52 | |
See accompanying notes to financial statements.
139
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 382 | | | Albemarle Corp. (Chemicals) | | $ | 27 | |
| | |
| | 407 | | | Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 57 | |
| | |
| | 275 | | | Align Technology, Inc. (Health Care Equipment & Supplies) (a) | | | 75 | |
| | |
| | 172 | | | Alliance Data Systems Corp. (IT Services) | | | 24 | |
| | |
| | 852 | | | Alliant Energy Corp. (Electric Utilities) | | | 42 | |
| | |
| | 1,243 | | | Allstate Corp. (Insurance) | | | 126 | |
| | |
| | 1,454 | | | Ally Financial, Inc. (Consumer Finance) | | | 45 | |
| | |
| | 1,109 | | | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | | | 1,201 | |
| | |
| | 1,165 | | | Alphabet, Inc., Class – C (Interactive Media & Services) (a) | | | 1,259 | |
| | |
| | 6,968 | | | Altria Group, Inc. (Tobacco) | | | 330 | |
| | |
| | 1,547 | | | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | | | 2,930 | |
| | |
| | 32 | | | AMERCO, Inc. (Road & Rail) | | | 12 | |
| | |
| | 883 | | | Ameren Corp. (Multi-Utilities) | | | 66 | |
| | |
| | 1,842 | | | American Electric Power, Inc. (Electric Utilities) | | | 162 | |
| | |
| | 2,647 | | | American Express Co. (Consumer Finance) | | | 326 | |
| | |
| | 274 | | | American Financial Group, Inc. (Insurance) | | | 28 | |
| | |
| | 3,245 | | | American International Group, Inc. (Insurance) | | | 173 | |
| | |
| | 1,639 | | | American Tower Corp. (Equity Real Estate Investment Trusts) | | | 335 | |
| | |
| | 653 | | | American Water Works Co., Inc. (Water Utilities) | | | 76 | |
| | |
| | 489 | | | Ameriprise Financial, Inc. (Capital Markets) | | | 71 | |
| | |
| | 572 | | | AmerisourceBergen Corp. (Health Care Providers & Services) | | | 49 | |
| | |
| | 2,312 | | | Amgen, Inc. (Biotechnology) | | | 426 | |
| | |
| | 1,119 | | | Amphenol Corp., Class – A (Electronic Equipment, Instruments & Components) | | | 107 | |
| | |
| | 1,377 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 155 | |
| | |
| | 302 | | | ANSYS, Inc. (Software) (a) | | | 62 | |
| | |
| | 1,354 | | | Apache Corp. (Oil, Gas & Consumable Fuels) | | | 39 | |
| | |
| | 17,465 | | | Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 3,457 | |
| | |
| | 3,548 | | | Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 159 | |
| | |
| | 889 | | | Aramark (Hotels, Restaurants & Leisure) | | | 32 | |
| | |
| | 2,026 | | | Archer-Daniels-Midland Co. (Food Products) | | | 83 | |
| | |
| | 1,576 | | | Arconic, Inc. (Aerospace & Defense) | | | 41 | |
| | |
| | 191 | | | Arista Networks, Inc. (Communications Equipment) (a) | | | 50 | |
| | |
| | 307 | | | Arrow Electronics, Inc. (Electronic Equipment, Instruments & Components) (a) | | | 22 | |
| | |
| | 664 | | | Arthur J. Gallagher & Co. (Insurance) | | | 58 | |
| | |
| | 223 | | | Assurant, Inc. (Insurance) | | | 24 | |
| | |
| | 27,014 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 906 | |
| | |
| | 422 | | | Atmos Energy Corp. (Gas Utilities) | | | 44 | |
| | |
| | 819 | | | Autodesk, Inc. (Software) (a) | | | 133 | |
| | |
| | 299 | | | Autoliv, Inc. (Auto Components) | | | 21 | |
| | |
| | 1,621 | | | Automatic Data Processing, Inc. (IT Services) | | | 268 | |
| | |
| | 520 | | | AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 106 | |
| | |
| | 303 | | | Avery Dennison Corp. (Containers & Packaging) | | | 35 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | United States (continued) | | | | |
| | |
| | 1,064 | | | AXA Equitable Holdings, Inc. (Diversified Financial Services) | | $ | 22 | |
| | |
| | 761 | | | Axalta Coating Systems Ltd. (Chemicals) (a) | | | 23 | |
| | |
| | 1,854 | | | Baker Hughes, Inc. (Energy Equipment & Services) | | | 46 | |
| | |
| | 1,149 | | | Ball Corp. (Containers & Packaging) | | | 81 | |
| | |
| | 34,023 | | | Bank of America Corp. (Banks) | | | 986 | |
| | |
| | 3,215 | | | Bank of New York Mellon Corp. (Capital Markets) | | | 142 | |
| | |
| | 1,820 | | | Baxter International, Inc. (Health Care Equipment & Supplies) | | | 149 | |
| | |
| | 2,856 | | | BB&T Corp. (Banks) | | | 140 | |
| | |
| | 1,002 | | | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 253 | |
| | |
| | 4,835 | | | Berkshire Hathaway, Inc., Class – B (Diversified Financial Services) (a) | | | 1,031 | |
| | |
| | 941 | | | Best Buy Co., Inc. (Specialty Retail) | | | 66 | |
| | |
| | 734 | | | Biogen Idec, Inc. (Biotechnology) (a) | | | 172 | |
| | |
| | 644 | | | BioMarin Pharmaceutical, Inc. (Biotechnology) (a) | | | 55 | |
| | |
| | 443 | | | BlackRock, Inc., Class – A (Capital Markets) | | | 208 | |
| | |
| | 168 | | | Booking Holdings, Inc. (Internet & Direct Marketing Retail) (a) | | | 315 | |
| | |
| | 750 | | | BorgWarner, Inc. (Auto Components) | | | 32 | |
| | |
| | 558 | | | Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 72 | |
| | |
| | 6,039 | | | Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 274 | |
| | |
| | 418 | | | Broadridge Financial Solutions, Inc. (IT Services) | | | 53 | |
| | |
| | 1,112 | | | Brown-Forman Corp., Class – B (Beverages) | | | 62 | |
| | |
| | 244 | | | Burlington Stores, Inc. (Specialty Retail) (a) | | | 42 | |
| | |
| | 546 | | | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 46 | |
| | |
| | 1,013 | | | Cadence Design Systems, Inc. (Software) (a) | | | 72 | |
| | |
| | 348 | | | Camden Property Trust (Equity Real Estate Investment Trusts) | | | 36 | |
| | |
| | 598 | | | Campbell Soup Co. (Food Products) | | | 24 | |
| | |
| | 1,747 | | | Capital One Financial Corp. (Consumer Finance) | | | 159 | |
| | |
| | 1,176 | | | Cardinal Health, Inc. (Health Care Providers & Services) | | | 55 | |
| | |
| | 614 | | | CarMax, Inc. (Specialty Retail) (a) | | | 53 | |
| | |
| | 2,142 | | | Caterpillar, Inc. (Machinery) | | | 292 | |
| | |
| | 403 | | | CBOE Holdings, Inc. (Capital Markets) | | | 42 | |
| | |
| | 1,169 | | | CBRE Group, Inc., Class – A (Real Estate Management & Development) (a) | | | 60 | |
| | |
| | 450 | | | CDK Global, Inc. (Software) | | | 22 | |
| | |
| | 462 | | | Celanese Corp., Series A (Chemicals) | | | 50 | |
| | |
| | 2,614 | | | Celgene Corp. (Biotechnology) (a) | | | 242 | |
| | |
| | 1,495 | | | Centene Corp. (Health Care Providers & Services) (a) | | | 78 | |
| | |
| | 1,810 | | | CenterPoint Energy, Inc. (Multi-Utilities) | | | 52 | |
| | |
| | 3,513 | | | CenturyLink, Inc. (Diversified Telecommunication Services) | | | 41 | |
| | |
| | 1,173 | | | Cerner Corp. (Health Care Technology) | | | 86 | |
| | |
| | 837 | | | Cheniere Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | | | 57 | |
| | |
| | 7,046 | | | Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 877 | |
| | |
| | 95 | | | Chipotle Mexican Grill, Inc. (Hotels, Restaurants & Leisure) (a) | | | 70 | |
| | |
| | 888 | | | Church & Dwight Co., Inc. (Household Products) | | | 65 | |
See accompanying notes to financial statements.
140
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 1,416 | | | Cigna Corp. (Health Care Providers & Services) | | $ | 223 | |
| | |
| | 365 | | | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 22 | |
| | |
| | 321 | | | Cintas Corp. (Commercial Services & Supplies) | | | 76 | |
| | |
| | 16,323 | | | Cisco Systems, Inc. (Communications Equipment) | | | 893 | |
| | |
| | 364 | | | CIT Group, Inc. (Banks) | | | 19 | |
| | |
| | 8,727 | | | Citigroup, Inc. (Banks) | | | 610 | |
| | |
| | 1,770 | | | Citizens Financial Group, Inc. (Banks) | | | 63 | |
| | |
| | 475 | | | Citrix Systems, Inc. (Software) | | | 47 | |
| | |
| | 1,332 | | | CME Group, Inc. (Capital Markets) | | | 259 | |
| | |
| | 1,024 | | | CMS Energy Corp. (Multi-Utilities) | | | 59 | |
| | |
| | 617 | | | Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 30 | |
| | |
| | 2,151 | | | Cognizant Technology Solutions Corp. (IT Services) | | | 136 | |
| | |
| | 3,050 | | | Colgate-Palmolive Co. (Household Products) | | | 219 | |
| | |
| | 574 | | | Comerica, Inc. (Banks) | | | 42 | |
| | |
| | 695 | | | Commscope Holding, Inc. (Communications Equipment) (a) | | | 11 | |
| | |
| | 1,754 | | | ConAgra Foods, Inc. (Food Products) | | | 47 | |
| | |
| | 4,204 | | | ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 256 | |
| | |
| | 1,205 | | | Consolidated Edison, Inc. (Multi-Utilities) | | | 106 | |
| | |
| | 625 | | | Constellation Brands, Inc., Class – A (Beverages) | | | 123 | |
| | |
| | 742 | | | Copart, Inc. (Commercial Services & Supplies) (a) | | | 55 | |
| | |
| | 2,956 | | | Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 98 | |
| | |
| | 1,636 | | | Costco Wholesale Corp. (Food & Staples Retailing) | | | 432 | |
| | |
| | 1,549 | | | Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 202 | |
| | |
| | 489 | | | Crown Holdings, Inc. (Containers & Packaging) (a) | | | 30 | |
| | |
| | 2,877 | | | CSX Corp. (Road & Rail) | | | 223 | |
| | |
| | 561 | | | Cummins, Inc. (Machinery) | | | 96 | |
| | |
| | 4,828 | | | CVS Caremark Corp. (Health Care Providers & Services) | | | 264 | |
| | |
| | 2,348 | | | Danaher Corp. (Health Care Equipment & Supplies) | | | 336 | |
| | |
| | 446 | | | Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 54 | |
| | |
| | 450 | | | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | | | 25 | |
| | |
| | 1,134 | | | Deere & Co. (Machinery) | | | 188 | |
| | |
| | 558 | | | Dell Technologies, Inc. (Technology Hardware, Storage & Peripherals) (a) | | | 28 | |
| | |
| | 690 | | | Delta Air Lines, Inc. (Airlines) | | | 39 | |
| | |
| | 804 | | | Dentsply Sirona, Inc. (Health Care Equipment & Supplies) | | | 47 | |
| | |
| | 1,746 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 50 | |
| | |
| | 325 | | | Dexcom, Inc. (Health Care Equipment & Supplies) (a) | | | 49 | |
| | |
| | 780 | | | Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 92 | |
| | |
| | 1,234 | | | Discover Financial Services (Consumer Finance) | | | 96 | |
| | |
| | 567 | | | Discovery Communications, Inc., Class – A (Media) (a) | | | 17 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 1,300 | | | Discovery Communications, Inc., Class – C (Media) (a) | | $ | 37 | |
| | |
| | 2,977 | | | Dominion Resources, Inc. (Multi-Utilities) | | | 230 | |
| | |
| | 141 | | | Domino’s Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 39 | |
| | |
| | 570 | | | Dover Corp. (Machinery) | | | 57 | |
| | |
| | 2,860 | | | Dow, Inc. (Chemicals) | | | 141 | |
| | |
| | 659 | | | DTE Energy Co. (Multi-Utilities) | | | 84 | |
| | |
| | 2,708 | | | Duke Energy Corp. (Electric Utilities) | | | 239 | |
| | |
| | 1,297 | | | Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 41 | |
| | |
| | 2,802 | | | DuPont de Nemours, Inc. (Chemicals) | | | 211 | |
| | |
| | 969 | | | DXC Technology Co. (IT Services) | | | 53 | |
| | |
| | 889 | | | E*Trade Financial Corp. (Capital Markets) | | | 40 | |
| | |
| | 524 | | | East West Bancorp, Inc. (Banks) | | | 25 | |
| | |
| | 505 | | | Eastman Chemical Co. (Chemicals) | | | 39 | |
| | |
| | 3,253 | | | eBay, Inc. (Internet & Direct Marketing Retail) | | | 128 | |
| | |
| | 970 | | | Ecolab, Inc. (Chemicals) | | | 192 | |
| | |
| | 1,177 | | | Edison International (Electric Utilities) | | | 79 | |
| | |
| | 776 | | | Edwards Lifesciences Corp. (Health Care Equipment & Supplies) (a) | | | 143 | |
| | |
| | 1,000 | | | Elanco Animal Health, Inc. (Pharmaceuticals) (a) | | | 34 | |
| | |
| | 1,124 | | | Electronic Arts, Inc. (Entertainment) (a) | | | 114 | |
| | |
| | 3,320 | | | Eli Lilly & Co. (Pharmaceuticals) | | | 368 | |
| | |
| | 685 | | | Entergy Corp. (Electric Utilities) | | | 71 | |
| | |
| | 196 | | | EPAM Systems, Inc. (IT Services) (a) | | | 34 | |
| | |
| | 302 | | | Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 152 | |
| | |
| | 1,388 | | | Equity Residential (Equity Real Estate Investment Trusts) | | | 105 | |
| | |
| | 92 | | | Erie Indemnity Co., Class – A (Insurance) | | | 23 | |
| | |
| | 238 | | | Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 69 | |
| | |
| | 1,192 | | | Eversource Energy (Electric Utilities) | | | 90 | |
| | |
| | 3,616 | | | Exelon Corp. (Electric Utilities) | | | 173 | |
| | |
| | 437 | | | Expedia, Inc. (Internet & Direct Marketing Retail) | | | 58 | |
| | |
| | 620 | | | Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 47 | |
| | |
| | 459 | | | Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 49 | |
| | |
| | 15,705 | | | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 1,204 | |
| | |
| | 215 | | | F5 Networks, Inc. (Communications Equipment) (a) | | | 31 | |
| | |
| | 8,839 | | | Facebook, Inc., Class – A (Interactive Media & Services) (a) | | | 1,705 | |
| | |
| | 138 | | | FactSet Research Systems, Inc. (Capital Markets) | | | 40 | |
| | |
| | 2,067 | | | Fastenal Co. (Trading Companies & Distributors) | | | 68 | |
| | |
| | 268 | | | Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 35 | |
| | |
| | 926 | | | FedEx Corp. (Air Freight & Logistics) | | | 152 | |
| | |
| | 1,207 | | | Fidelity National Information Services, Inc. (IT Services) | | | 148 | |
| | |
| | 2,926 | | | Fifth Third Bancorp (Banks) | | | 82 | |
| | |
| | 2,052 | | | First Data Corp. (IT Services) (a) | | | 56 | |
| | |
| | 604 | | | First Republic Bank (Banks) | | | 59 | |
| | |
| | 1,918 | | | FirstEnergy Corp. (Electric Utilities) | | | 82 | |
| | |
| | 1,465 | | | Fiserv, Inc. (IT Services) (a) | | | 134 | |
See accompanying notes to financial statements.
141
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 311 | | | FleetCor Technologies, Inc. (IT Services) (a) | | $ | 87 | |
| | |
| | 489 | | | FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | | | 26 | |
| | |
| | 558 | | | Flowserve Corp. (Machinery) | | | 29 | |
| | |
| | 504 | | | Fluor Corp. (Construction & Engineering) | | | 17 | |
| | |
| | 478 | | | FMC Corp. (Chemicals) | | | 40 | |
| | |
| | 582 | | | Fortinet, Inc. (Software) (a) | | | 45 | |
| | |
| | 1,129 | | | Fortive Corp. (Machinery) | | | 92 | |
| | |
| | 508 | | | Fortune Brands Home & Security, Inc. (Building Products) | | | 29 | |
| | |
| | 1,233 | | | Franklin Resources, Inc. (Capital Markets) | | | 43 | |
| | |
| | 934 | | | Gap, Inc. (Specialty Retail) | | | 17 | |
| | |
| | 324 | | | Gartner Group, Inc. (IT Services) (a) | | | 52 | |
| | |
| | 915 | | | General Dynamics Corp. (Aerospace & Defense) | | | 166 | |
| | |
| | 32,363 | | | General Electric Co. (Industrial Conglomerates) | | | 340 | |
| | |
| | 2,235 | | | General Mills, Inc. (Food Products) | | | 117 | |
| | |
| | 527 | | | Genuine Parts Co. (Distributors) | | | 55 | |
| | |
| | 4,711 | | | Gilead Sciences, Inc. (Biotechnology) | | | 318 | |
| | |
| | 1,234 | | | Goldman Sachs Group, Inc. (Capital Markets) | | | 252 | |
| | |
| | 328 | | | GrubHub, Inc. (Internet & Direct Marketing Retail) (a) | | | 26 | |
| | |
| | 889 | | | H&R Block, Inc. (Diversified Consumer Services) | | | 26 | |
| | |
| | 3,152 | | | Halliburton Co. (Energy Equipment & Services) | | | 72 | |
| | |
| | 1,305 | | | Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 22 | |
| | |
| | 695 | | | Harley-Davidson, Inc. (Automobiles) | | | 25 | |
| | |
| | 427 | | | Harris Corp. (Aerospace & Defense) | | | 81 | |
| | |
| | 1,299 | | | Hartford Financial Services Group, Inc. (Insurance) | | | 72 | |
| | |
| | 432 | | | Hasbro, Inc. (Leisure Products) | | | 46 | |
| | |
| | 1,030 | | | HCA Holdings, Inc. (Health Care Providers & Services) | | | 139 | |
| | |
| | 1,726 | | | HCP, Inc. (Equity Real Estate Investment Trusts) | | | 55 | |
| | |
| | 644 | | | HD Supply Holdings, Inc. (Trading Companies & Distributors) (a) | | | 26 | |
| | |
| | 154 | | | HEICO Corp. (Aerospace & Defense) | | | 21 | |
| | |
| | 273 | | | HEICO Corp., Class – A (Aerospace & Defense) | | | 28 | |
| | |
| | 607 | | | Henry Schein, Inc. (Health Care Providers & Services) (a) | | | 42 | |
| | |
| | 569 | | | Hershey Co. (Food Products) | | | 76 | |
| | |
| | 985 | | | Hess Corp. (Oil, Gas & Consumable Fuels) | | | 63 | |
| | |
| | 5,295 | | | Hewlett Packard Enterprise Co. (Technology Hardware, Storage & Peripherals) | | | 79 | |
| | |
| | 1,045 | | | Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 102 | |
| | |
| | 965 | | | Hologic, Inc. (Health Care Equipment & Supplies) (a) | | | 46 | |
| | |
| | 2,707 | | | Honeywell International, Inc. (Industrial Conglomerates) | | | 472 | |
| | |
| | 1,062 | | | Hormel Foods Corp. (Food Products) | | | 43 | |
| | |
| | 2,674 | | | Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 49 | |
| | |
| | 5,787 | | | HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 120 | |
| | |
| | 507 | | | Humana, Inc. (Health Care Providers & Services) | | | 135 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 314 | | | Hunt (JB) Transportation Services, Inc. (Road & Rail) | | $ | 29 | |
| | |
| | 3,780 | | | Huntington Bancshares, Inc. (Banks) | | | 52 | |
| | |
| | 149 | | | Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 33 | |
| | |
| | 273 | | | IDEX Corp. (Machinery) | | | 47 | |
| | |
| | 323 | | | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | | | 89 | |
| | |
| | 1,224 | | | Illinois Tool Works, Inc. (Machinery) | | | 185 | |
| | |
| | 548 | | | Illumina, Inc. (Life Sciences Tools & Services) (a) | | | 201 | |
| | |
| | 241 | | | Ingredion, Inc. (Food Products) | | | 20 | |
| | |
| | 16,680 | | | Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 798 | |
| | |
| | 2,121 | | | Intercontinental Exchange Group, Inc. (Capital Markets) | | | 182 | |
| | |
| | 3,305 | | | International Business Machines Corp. (IT Services) | | | 456 | |
| | |
| | 366 | | | International Flavors & Fragrances, Inc. (Chemicals) | | | 53 | |
| | |
| | 1,373 | | | International Paper Co. (Containers & Packaging) | | | 59 | |
| | |
| | 960 | | | Intuit, Inc. (Software) | | | 251 | |
| | |
| | 475 | | | Ionis Pharmaceuticals, Inc. (Biotechnology) (a) | | | 31 | |
| | |
| | 631 | | | IQVIA Holdings, Inc. (Life Sciences Tools & Services) (a) | | | 102 | |
| | |
| | 1,035 | | | Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 32 | |
| | |
| | 279 | | | Jack Henry & Associates, Inc. (IT Services) | | | 37 | |
| | |
| | 504 | | | Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 43 | |
| | |
| | 238 | | | Jazz Pharmaceuticals PLC (Pharmaceuticals) (a) | | | 34 | |
| | |
| | 9,870 | | | Johnson & Johnson (Pharmaceuticals) | | | 1,374 | |
| | |
| | 3,003 | | | Johnson Controls International PLC (Building Products) | | | 124 | |
| | |
| | 164 | | | Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 23 | |
| | |
| | 12,136 | | | JPMorgan Chase & Co. (Banks) | | | 1,356 | |
| | |
| | 1,256 | | | Juniper Networks, Inc. (Communications Equipment) | | | 33 | |
| | |
| | 364 | | | Kansas City Southern (Road & Rail) | | | 44 | |
| | |
| | 932 | | | Kellogg Co. (Food Products) | | | 50 | |
| | |
| | 3,643 | | | KeyCorp (Banks) | | | 65 | |
| | |
| | 678 | | | Keysight Technologies, Inc. (Electronic Equipment, Instruments & Components) (a) | | | 61 | |
| | |
| | 1,285 | | | Kimberly-Clark Corp. (Household Products) | | | 171 | |
| | |
| | 1,522 | | | Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 28 | |
| | |
| | 7,610 | | | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 159 | |
| | |
| | 1,756 | | | KKR & Co., Inc., Class – A (Capital Markets) | | | 44 | |
| | |
| | 591 | | | KLA-Tencor Corp. (Semiconductors & Semiconductor Equipment) | | | 70 | |
| | |
| | 468 | | | Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 15 | |
| | |
| | 686 | | | Kohl’s Corp. (Multiline Retail) | | | 33 | |
| | |
| | 844 | | | L Brands, Inc. (Specialty Retail) | | | 22 | |
| | |
| | 286 | | | L3 Technologies, Inc. (Aerospace & Defense) | | | 70 | |
| | |
| | 356 | | | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | | | 62 | |
See accompanying notes to financial statements.
142
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 573 | | | Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | $ | 108 | |
| | |
| | 529 | | | Lamb Weston Holding, Inc. (Food Products) | | | 34 | |
| | |
| | 1,261 | | | Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 75 | |
| | |
| | 473 | | | Leggett & Platt, Inc. (Household Durables) | | | 18 | |
| | |
| | 501 | | | Leidos Holdings, Inc. (IT Services) | | | 40 | |
| | |
| | 1,035 | | | Lennar Corp., Class – A (Household Durables) | | | 49 | |
| | |
| | 130 | | | Lennox International, Inc. (Building Products) | | | 36 | |
| | |
| | 386 | | | Liberty Broadband, Class – C (Media) (a) | | | 41 | |
| | |
| | 535 | | | Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 27 | |
| | |
| | 738 | | | Lincoln National Corp. (Insurance) | | | 48 | |
| | |
| | 533 | | | Live Nation Entertainment, Inc. (Entertainment) (a) | | | 35 | |
| | |
| | 1,141 | | | LKQ Corp. (Distributors) (a) | | | 30 | |
| | |
| | 946 | | | Lockheed Martin Corp. (Aerospace & Defense) | | | 344 | |
| | |
| | 1,012 | | | Loews Corp. (Insurance) | | | 55 | |
| | |
| | 2,980 | | | Lowe’s Companies, Inc. (Specialty Retail) | | | 301 | |
| | |
| | 476 | | | M&T Bank Corp. (Banks) | | | 81 | |
| | |
| | 1,111 | | | Macy’s, Inc. (Multiline Retail) | | | 24 | |
| | |
| | 218 | | | ManpowerGroup, Inc. (Professional Services) | | | 21 | |
| | |
| | 3,276 | | | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 47 | |
| | |
| | 2,521 | | | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 141 | |
| | |
| | 136 | | | MarketAxess Holdings, Inc. (Capital Markets) | | | 44 | |
| | |
| | 1,084 | | | Marriott International, Inc., Class – A (Hotels, Restaurants & Leisure) | | | 152 | |
| | |
| | 1,884 | | | Marsh & McLennan Companies, Inc. (Insurance) | | | 189 | |
| | |
| | 226 | | | Martin Marietta Materials, Inc. (Construction Materials) | | | 52 | |
| | |
| | 1,063 | | | Masco Corp. (Building Products) | | | 42 | |
| | |
| | 3,385 | | | MasterCard, Inc., Class – A (IT Services) | | | 895 | |
| | |
| | 987 | | | Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 59 | |
| | |
| | 473 | | | McCormick & Company, Inc. (Food Products) | | | 73 | |
| | |
| | 2,841 | | | McDonald’s Corp. (Hotels, Restaurants & Leisure) | | | 590 | |
| | |
| | 156 | | | MercadoLibre, Inc. (Internet & Direct Marketing Retail) (a) | | | 95 | |
| | |
| | 9,574 | | | Merck & Co., Inc. (Pharmaceuticals) | | | 803 | |
| | |
| | 94 | | | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | | | 79 | |
| | |
| | 1,842 | | | MGM Resorts International (Hotels, Restaurants & Leisure) | | | 53 | |
| | |
| | 856 | | | Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 74 | |
| | |
| | 4,192 | | | Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) (a) | | | 162 | |
| | |
| | 26,996 | | | Microsoft Corp. (Software) | | | 3,615 | |
| | |
| | 411 | | | Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 48 | |
| | |
| | 222 | | | Mohawk Industries, Inc. (Household Durables) (a) | | | 33 | |
| | |
| | 685 | | | Molson Coors Brewing Co., Class – B (Beverages) | | | 38 | |
| | |
| | 5,372 | | | Mondelez International, Inc., Class – A (Food Products) | | | 290 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 643 | | | Moody’s Corp. (Capital Markets) | | $ | 126 | |
| | |
| | 4,777 | | | Morgan Stanley (Capital Markets) | | | 209 | |
| | |
| | 615 | | | Motorola Solutions, Inc. (Communications Equipment) | | | 103 | |
| | |
| | 1,385 | | | National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 31 | |
| | |
| | 625 | | | Nektar Therapeutics (Pharmaceuticals) (a) | | | 22 | |
| | |
| | 892 | | | NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 55 | |
| | |
| | 1,620 | | | Netflix, Inc. (Entertainment) (a) | | | 595 | |
| | |
| | 1,602 | | | Newell Rubbermaid, Inc. (Household Durables) | | | 25 | |
| | |
| | 3,065 | | | Newmont Mining Corp. (Metals & Mining) | | | 118 | |
| | |
| | 1,777 | | | NextEra Energy, Inc. (Electric Utilities) | | | 364 | |
| | |
| | 1,284 | | | Nielsen Holdings PLC (Professional Services) | | | 29 | |
| | |
| | 4,678 | | | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | | | 394 | |
| | |
| | 1,345 | | | NiSource, Inc. (Multi-Utilities) | | | 39 | |
| | |
| | 1,746 | | | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 39 | |
| | |
| | 550 | | | Nordstrom, Inc. (Multiline Retail) | | | 18 | |
| | |
| | 996 | | | Norfolk Southern Corp. (Road & Rail) | | | 199 | |
| | |
| | 749 | | | Northern Trust Corp. (Capital Markets) | | | 67 | |
| | |
| | 601 | | | Northrop Grumman Corp. (Aerospace & Defense) | | | 194 | |
| | |
| | 786 | | | Norwegian Cruise Line Holdings Ltd. (Hotels, Restaurants & Leisure) (a) | | | 42 | |
| | |
| | 1,104 | | | Nucor Corp. (Metals & Mining) | | | 61 | |
| | |
| | 2,140 | | | NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 351 | |
| | |
| | 13 | | | NVR, Inc. (Household Durables) (a) | | | 44 | |
| | |
| | 2,813 | | | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 141 | |
| | |
| | 722 | | | OGE Energy Corp. (Electric Utilities) | | | 31 | |
| | |
| | 235 | | | Old Dominion Freight Line, Inc. (Road & Rail) | | | 35 | |
| | |
| | 808 | | | Omnicom Group, Inc. (Media) | | | 67 | |
| | |
| | 1,479 | | | ON Semiconductor Corp. (Semiconductors & Semiconductor Equipment) (a) | | | 30 | |
| | |
| | 1,545 | | | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 106 | |
| | |
| | 9,326 | | | Oracle Corp. (Software) | | | 531 | |
| | |
| | 396 | | | Owens Corning, Inc. (Building Products) | | | 23 | |
| | |
| | 1,304 | | | PACCAR, Inc. (Machinery) | | | 93 | |
| | |
| | 468 | | | Parker Hannifin Corp. (Machinery) | | | 80 | |
| | |
| | 1,012 | | | Parsley Energy, Inc., Class – A (Oil, Gas & Consumable Fuels) (a) | | | 19 | |
| | |
| | 1,213 | | | Paychex, Inc. (IT Services) | | | 100 | |
| | |
| | 179 | | | Paycom Software, Inc. (Software) (a) | | | 41 | |
| | |
| | 4,139 | | | PayPal Holdings, Inc. (IT Services) (a) | | | 474 | |
| | |
| | 1,434 | | | People’s United Financial, Inc. (Banks) | | | 24 | |
| | |
| | 5,212 | | | PepsiCo, Inc. (Beverages) | | | 683 | |
| | |
| | 400 | | | PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 39 | |
| | |
| | 466 | | | Perrigo Co. PLC (Pharmaceuticals) | | | 22 | |
| | |
| | 5,774 | | | Philip Morris International, Inc. (Tobacco) | | | 453 | |
| | |
| | 1,704 | | | Phillips 66 (Oil, Gas & Consumable Fuels) | | | 159 | |
| | |
| | 405 | | | Pinnacle West Capital Corp. (Electric Utilities) | | | 38 | |
| | |
| | 632 | | | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 97 | |
| | |
| | 1,703 | | | PNC Financial Services Group, Inc. (Banks) | | | 234 | |
See accompanying notes to financial statements.
143
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 885 | | | PPG Industries, Inc. (Chemicals) | | $ | 103 | |
| | |
| | 2,608 | | | PPL Corp. (Electric Utilities) | | | 81 | |
| | |
| | 1,005 | | | Principal Financial Group, Inc. (Insurance) | | | 58 | |
| | |
| | 2,351 | | | Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 188 | |
| | |
| | 1,528 | | | Prudential Financial, Inc. (Insurance) | | | 154 | |
| | |
| | 407 | | | PTC, Inc. (Software) (a) | | | 37 | |
| | |
| | 1,894 | | | Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 111 | |
| | |
| | 950 | | | PulteGroup, Inc. (Household Durables) | | | 30 | |
| | |
| | 273 | | | PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 26 | |
| | |
| | 444 | | | Qorvo, Inc. (Semiconductors & Semiconductor Equipment) (a) | | | 30 | |
| | |
| | 485 | | | Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 49 | |
| | |
| | 190 | | | Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 22 | |
| | |
| | 458 | | | Raymond James Financial, Inc. (Capital Markets) | | | 39 | |
| | |
| | 1,053 | | | Raytheon Co. (Aerospace & Defense) | | | 183 | |
| | |
| | 1,099 | | | Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 76 | |
| | |
| | 661 | | | Red Hat, Inc. (Software) (a) | | | 124 | |
| | |
| | 605 | | | Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 40 | |
| | |
| | 3,675 | | | Regions Financial Corp. (Banks) | | | 55 | |
| | |
| | 227 | | | Reinsurance Group of America (Insurance) | | | 35 | |
| | |
| | 518 | | | ResMed, Inc. (Health Care Equipment & Supplies) | | | 63 | |
| | |
| | 494 | | | Robert Half International, Inc. (Professional Services) | | | 28 | |
| | |
| | 432 | | | Rockwell Automation, Inc. (Electrical Equipment) | | | 71 | |
| | |
| | 532 | | | Rollins, Inc. (Commercial Services & Supplies) | | | 19 | |
| | |
| | 388 | | | Roper Industries, Inc. (Industrial Conglomerates) | | | 142 | |
| | |
| | 1,385 | | | Ross Stores, Inc. (Specialty Retail) | | | 137 | |
| | |
| | 926 | | | S&P Global, Inc. (Capital Markets) | | | 211 | |
| | |
| | 995 | | | Sabre Corp. (IT Services) | | | 22 | |
| | |
| | 2,841 | | | Salesforce.com, Inc. (Software) (a) | | | 431 | |
| | |
| | 422 | | | SBA Communications Corp. (Equity Real Estate Investment Trusts) (a) | | | 95 | |
| | |
| | 5,168 | | | Schlumberger Ltd. (Energy Equipment & Services) | | | 205 | |
| | |
| | 916 | | | Seagate Technology Holdings, Inc. (Technology Hardware, Storage & Peripherals) | | | 43 | |
| | |
| | 562 | | | Sealed Air Corp. (Containers & Packaging) | | | 24 | |
| | |
| | 1,025 | | | Sempra Energy (Multi-Utilities) | | | 141 | |
| | |
| | 673 | | | ServiceNow, Inc. (Software) (a) | | | 185 | |
| | |
| | 199 | | | Signature Bank (Banks) | | | 24 | |
| | |
| | 1,153 | | | Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 184 | |
| | |
| | 5,988 | | | Sirius XM Holdings, Inc. (Media) | | | 33 | |
| | |
| | 629 | | | Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 49 | |
| | |
| | 302 | | | SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 24 | |
| | |
| | 227 | | | Snap-on, Inc. (Machinery) | | | 38 | |
| | |
| | 581 | | | Southwest Airlines Co. (Airlines) | | | 30 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 381 | | | Spirit Aerosystems Holdings, Inc., Class – A (Aerospace & Defense) | | $ | 31 | |
| | |
| | 534 | | | Splunk, Inc. (Software) (a) | | | 67 | |
| | |
| | 2,946 | | | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | | | 19 | |
| | |
| | 1,231 | | | Square, Inc., Class – A (IT Services) (a) | | | 89 | |
| | |
| | 815 | | | SS&C Technologies Holdings, Inc. (Software) | | | 47 | |
| | |
| | 547 | | | Stanley Black & Decker, Inc. (Machinery) | | | 79 | |
| | |
| | 4,621 | | | Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 387 | |
| | |
| | 1,453 | | | State Street Corp. (Capital Markets) | | | 81 | |
| | |
| | 809 | | | Steel Dynamics, Inc. (Metals & Mining) | | | 24 | |
| | |
| | 1,664 | | | SunTrust Banks, Inc. (Banks) | | | 105 | |
| | |
| | 190 | | | SVB Financial Group (Banks) (a) | | | 43 | |
| | |
| | 2,309 | | | Symantec Corp. (Software) | | | 50 | |
| | |
| | 541 | | | Synopsys, Inc. (Software) (a) | | | 70 | |
| | |
| | 1,834 | | | Sysco Corp. (Food & Staples Retailing) | | | 130 | |
| | |
| | 899 | | | T. Rowe Price Group, Inc. (Capital Markets) | | | 99 | |
| | |
| | 273 | | | Tableau Software, Inc., Class – A (Software) (a) | | | 45 | |
| | |
| | 409 | | | Take-Two Interactive Software, Inc. (Entertainment) (a) | | | 46 | |
| | |
| | 1,172 | | | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 37 | |
| | |
| | 828 | | | Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 33 | |
| | |
| | 1,948 | | | Target Corp. (Multiline Retail) | | | 168 | |
| | |
| | 1,102 | | | TD Ameritrade Holding Corp. (Capital Markets) | | | 55 | |
| | |
| | 166 | | | Teleflex, Inc. (Health Care Equipment & Supplies) | | | 55 | |
| | |
| | 486 | | | Tesla Motors, Inc. (Automobiles) (a) | | | 109 | |
| | |
| | 3,459 | | | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 397 | |
| | |
| | 847 | | | Textron, Inc. (Aerospace & Defense) | | | 45 | |
| | |
| | 2,651 | | | The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 44 | |
| | |
| | 1,991 | | | The Boeing Co. (Aerospace & Defense) | | | 725 | |
| | |
| | 4,476 | | | The Charles Schwab Corp. (Capital Markets) | | | 180 | |
| | |
| | 603 | | | The Chemours Co. (Chemicals) | | | 14 | |
| | |
| | 464 | | | The Clorox Co. (Household Products) | | | 71 | |
| | |
| | 15,065 | | | The Coca-Cola Co. (Beverages) | | | 768 | |
| | |
| | 178 | | | The Cooper Companies, Inc. (Health Care Equipment & Supplies) | | | 60 | |
| | |
| | 816 | | | The Estee Lauder Companies, Inc., Class – A (Personal Products) | | | 149 | |
| | |
| | 4,189 | | | The Home Depot, Inc. (Specialty Retail) | | | 870 | |
| | |
| | 1,390 | | | The Interpublic Group of Companies, Inc. (Media) | | | 31 | |
| | |
| | 411 | | | The J.M. Smucker Co. (Food Products) | | | 47 | |
| | |
| | 2,424 | | | The Kraft Heinz Co. (Food Products) | | | 75 | |
| | |
| | 3,076 | | | The Kroger Co. (Food & Staples Retailing) | | | 67 | |
| | |
| | 408 | | | The Macerich Co. (Equity Real Estate Investment Trusts) | | | 14 | |
| | |
| | 201 | | | The Middleby Corp. (Machinery) (a) | | | 27 | |
| | |
| | 1,323 | | | The Mosaic Co. (Chemicals) | | | 33 | |
| | |
| | 418 | | | The Nasdaq OMX Group, Inc. (Capital Markets) | | | 40 | |
| | |
| | 9,275 | | | The Procter & Gamble Co. (Household Products) | | | 1,017 | |
| | |
| | 2,179 | | | The Progressive Corp. (Insurance) | | | 175 | |
| | |
| | 312 | | | The Sherwin-Williams Co. (Chemicals) | | | 143 | |
| | |
| | 3,855 | | | The Southern Co. (Electric Utilities) | | | 213 | |
See accompanying notes to financial statements.
144
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 4,592 | | | The TJX Companies, Inc. (Specialty Retail) | | $ | 243 | |
| | |
| | 984 | | | The Travelers Companies, Inc. (Insurance) | | | 147 | |
| | |
| | 6,674 | | | The Walt Disney Co. (Entertainment) | | | 933 | |
| | |
| | 4,536 | | | The Williams Companies, Inc. (Oil, Gas & Consumable Fuels) | | | 127 | |
| | |
| | 1,482 | | | Thermo Electron Corp. (Life Sciences Tools & Services) | | | 434 | |
| | |
| | 396 | | | Tiffany & Co. (Specialty Retail) | | | 37 | |
| | |
| | 383 | | | Torchmark Corp. (Insurance) | | | 34 | |
| | |
| | 438 | | | Tractor Supply Co. (Specialty Retail) | | | 48 | |
| | |
| | 173 | | | TransDigm Group, Inc. (Aerospace & Defense) (a) | | | 84 | |
| | |
| | 671 | | | TransUnion Holding Company, Inc. (Professional Services) | | | 49 | |
| | |
| | 908 | | | Trimble Navigation Ltd. (Electronic Equipment, Instruments & Components) (a) | | | 41 | |
| | |
| | 385 | | | TripAdvisor, Inc. (Interactive Media & Services) (a) | | | 18 | |
| | |
| | 402 | | | Twilio, Inc., Class – A (IT Services) (a) | | | 55 | |
| | |
| | 2,737 | | | Twitter, Inc. (Interactive Media & Services) (a) | | | 96 | |
| | |
| | 1,068 | | | Tyson Foods, Inc., Class – A (Food Products) | | | 86 | |
| | |
| | 5,657 | | | U.S. Bancorp (Banks) | | | 296 | |
| | |
| | 667 | | | Uber Technologies, Inc. (Road & Rail) (a) | | | 31 | |
| | |
| | 995 | | | UDR, Inc. (Equity Real Estate Investment Trusts) | | | 45 | |
| | |
| | 628 | | | UGI Corp. (Gas Utilities) | | | 34 | |
| | |
| | 204 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | | | 71 | |
| | |
| | 678 | | | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods) (a) | | | 17 | |
| | |
| | 695 | | | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | | | 15 | |
| | |
| | 2,684 | | | Union Pacific Corp. (Road & Rail) | | | 454 | |
| | |
| | 2,591 | | | United Parcel Service, Inc., Class – B (Air Freight & Logistics) | | | 268 | |
| | |
| | 287 | | | United Rentals, Inc. (Trading Companies & Distributors) (a) | | | 38 | |
| | |
| | 3,042 | | | United Technologies Corp. (Aerospace & Defense) | | | 396 | |
| | |
| | 3,559 | | | UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 869 | |
| | |
| | 1,261 | | | V.F. Corp. (Textiles, Apparel & Luxury Goods) | | | 110 | |
| | |
| | 146 | | | Vail Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 33 | |
| | |
| | 1,564 | | | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 134 | |
| | |
| | 328 | | | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | | | 45 | |
| | |
| | 452 | | | Veeva Systems, Inc. (Health Care Technology) (a) | | | 73 | |
| | |
| | 1,339 | | | Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 92 | |
| | |
| | 390 | | | VeriSign, Inc. (IT Services) (a) | | | 82 | |
| | |
| | 15,324 | | | Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 875 | |
| | |
| | 562 | | | Versik Analytics, Inc., Class – A (Professional Services) | | | 83 | |
| | |
| | 955 | | | Vertex Pharmaceuticals, Inc. (Biotechnology) (a) | | | 175 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 1,277 | | | Viacom, Inc., Class – B (Entertainment) | | $ | 38 | |
| | |
| | 6,488 | | | Visa, Inc., Class – A (IT Services) | | | 1,125 | |
| | |
| | 300 | | | VMware, Inc., Class – A (Software) | | | 50 | |
| | |
| | 620 | | | Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 40 | |
| | |
| | 527 | | | Voya Financial, Inc. (Diversified Financial Services) | | | 29 | |
| | |
| | 476 | | | Vulcan Materials Co. (Construction Materials) | | | 65 | |
| | |
| | 188 | | | W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 50 | |
| | |
| | 185 | | | WABCO Holdings, Inc. (Machinery) (a) | | | 25 | |
| | |
| | 570 | | | Wabtec Corp. (Machinery) | | | 41 | |
| | |
| | 2,996 | | | Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 164 | |
| | |
| | 5,391 | | | Wal-Mart Stores, Inc. (Food & Staples Retailing) | | | 595 | |
| | |
| | 1,581 | | | Waste Management, Inc. (Commercial Services & Supplies) | | | 183 | |
| | |
| | 258 | | | Waters Corp. (Life Sciences Tools & Services) (a) | | | 56 | |
| | |
| | 216 | | | Wayfair, Inc., Class – A (Internet & Direct Marketing Retail) (a) | | | 32 | |
| | |
| | 1,184 | | | WEC Energy Group, Inc. (Multi-Utilities) | | | 99 | |
| | |
| | 1,447 | | | Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 118 | |
| | |
| | 1,574 | | | Western Union Co. (IT Services) | | | 31 | |
| | |
| | 923 | | | WestRock Co. (Containers & Packaging) | | | 34 | |
| | |
| | 2,697 | | | Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 71 | |
| | |
| | 230 | | | Whirlpool Corp. (Household Durables) | | | 33 | |
| | |
| | 565 | | | Workday, Inc., Class – A (Software) (a) | | | 116 | |
| | |
| | 1,123 | | | Worldpay, Inc., Class – A (IT Services) (a) | | | 138 | |
| | |
| | 600 | | | WP Carey, Inc. (Equity Real Estate Investment Trusts) | | | 49 | |
| | |
| | 1,927 | | | Xcel Energy, Inc. (Electric Utilities) | | | 115 | |
| | |
| | 868 | | | Xerox Corp. (Technology Hardware, Storage & Peripherals) | | | 31 | |
| | |
| | 958 | | | Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 113 | |
| | |
| | 648 | | | Xylem, Inc. (Machinery) | | | 54 | |
| | |
| | 195 | | | Zebra Technologies Corp., Class – A (Electronic Equipment, Instruments & Components) (a) | | | 41 | |
| | |
| | 672 | | | Zions Bancorp (Banks) | | | 31 | |
| | |
| | 1,785 | | | Zoetis, Inc. (Pharmaceuticals) | | | 203 | |
| | | | | | | | |
| | | | | | | 82,833 | |
| | | | | | | | |
| | |
| | | | Total Common Stocks | | | 140,351 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 0.06% | | | | |
| |
| | | | Germany — 0.06% | |
| | |
| | 201 | | | Bayerische Motoren Werke
Aktiengesellschaft – Preferred (Automobiles) | | | 12 | |
| | |
| | 251 | | | Fuchs Petrolub AG – Preferred (Chemicals) | | | 10 | |
| | |
| | 643 | | | Henkel AG & Co. KGaA – Preferred (Household Products) | | | 63 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 85 | |
| | | | | | | | |
See accompanying notes to financial statements.
145
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Rights — 0.01% | | | | |
| |
| | | | Spain — 0.01% | |
| | |
| | 909 | | | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) (a) | | $ | 1 | |
| | |
| | 20,033 | | | Repsol SA (Oil, Gas & Consumable Fuels) (a) | | | 12 | |
| | | | | | | | |
| | | | Total Rights | | | 13 | |
| | | | | | | | |
| | |
| | | | Investment Company — 4.89% | | | | |
| | |
| | 7,288,274 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (c) | | | 7,288 | |
| | | | | | | | |
| | | | Total Investment Company | | | 7,288 | |
| | | | | | | | |
| | | | Total Investments
(cost $140,081) — 99.17% | | | 147,737 | |
| | | | Other assets in excess of
liabilities — 0.83% | | | 1,241 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 148,978 | |
| | | | | | | | |
| (a) | Representsnon-income producing security. |
| (b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
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 as of June 30, 2019.
| | | | | | | | | | | | |
The ESG Growth Portfolio | | Mellon
Investments
Corporation* | | | Parametric
Portfolio
Associates, LLC | | | Total | |
| | | |
Common Stocks | | | 94.21 | % | | | — | | | | 94.21 | % |
| | | |
Preferred Stocks | | | 0.06 | % | | | — | | | | 0.06 | % |
| | | |
Rights | | | 0.01 | % | | | — | | | | 0.01 | % |
| | | |
Investment Company | | | 0.14 | % | | | 4.75 | % | | | 4.89 | % |
| | | |
Other Assets (Liabilities) | | | 0.20 | % | | | 0.63 | % | | | 0.83 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 94.62 | % | | | 5.38 | % | | | 100.00 | % |
| | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
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 June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
E-Mini S&P 500 Future | | 30 | | | 9/20/19 | | | $ | 4,417 | | | $ | 65 | |
MSCI EAFE Index Future | | 31 | | | 9/20/19 | | | | 2,981 | | | | 79 | |
| | | | | | | | | | | | | | |
| | | | | | | | $ | 7,398 | | | $ | 144 | |
| | | | | | | | | | | | | | |
| | Total Unrealized Appreciation | | | $ | 144 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 144 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
146
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 91.21% | | | | |
| |
| | | | Australia — 2.40% | |
| | |
| | 826 | | | AGL Energy Ltd. (Multi-Utilities) | | $ | 12 | |
| | |
| | 4,527 | | | Alumina Ltd. (Metals & Mining) | | | 7 | |
| | |
| | 3,699 | | | AMP Ltd. (Diversified Financial Services) | | | 6 | |
| | |
| | 1,485 | | | APA Group (Gas Utilities) | | | 11 | |
| | |
| | 723 | | | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | | | 16 | |
| | |
| | 244 | | | ASX Ltd. (Capital Markets) | | | 14 | |
| | |
| | 2,666 | | | Aurizon Holdings Ltd. (Road & Rail) | | | 10 | |
| | |
| | 2,299 | | | AusNet Services (Electric Utilities) | | | 3 | |
| | |
| | 3,665 | | | Australia & New Zealand Banking Group Ltd. (Banks) | | | 73 | |
| | |
| | 506 | | | Bank of Queensland Ltd. (Banks) | | | 3 | |
| | |
| | 613 | | | Bendigo & Adelaide Bank Ltd. (Banks) | | | 5 | |
| | |
| | 3,779 | | | BHP Billiton Ltd. (Metals & Mining) | | | 110 | |
| | |
| | 2,750 | | | BHP Group PLC (Metals & Mining) | | | 70 | |
| | |
| | 671 | | | BlueScope Steel Ltd. (Metals & Mining) | | | 6 | |
| | |
| | 1,476 | | | Boral Ltd. (Construction Materials) | | | 5 | |
| | |
| | 2,007 | | | Brambles Ltd. (Commercial Services & Supplies) | | | 18 | |
| | |
| | 315 | | | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | | | 5 | |
| | |
| | 693 | | | Challenger Ltd. (Diversified Financial Services) | | | 3 | |
| | |
| | 123 | | | CIMIC Group Ltd. (Construction & Engineering) | | | 4 | |
| | |
| | 670 | | | Coca-Cola Amatil Ltd. (Beverages) | | | 5 | |
| | |
| | 73 | | | Cochlear Ltd. (Health Care Equipment & Supplies) | | | 11 | |
| | |
| | 1,427 | | | Coles Group Ltd. (Food & Staples Retailing) (a) | | | 13 | |
| | |
| | 2,271 | | | Commonwealth Bank of Australia (Banks) | | | 132 | |
| | |
| | 615 | | | Computershare Ltd. (IT Services) | | | 7 | |
| | |
| | 469 | | | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | | | 4 | |
| | |
| | 1,374 | | | Dexus Property Group (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 76 | | | Domino’s Pizza Enterprises Ltd. (Hotels, Restaurants & Leisure) | | | 2 | |
| | |
| | 70 | | | Flight Centre Ltd. (Hotels, Restaurants & Leisure) | | | 2 | |
| | |
| | 2,162 | | | Fortescue Metals Group Ltd. (Metals & Mining) | | | 14 | |
| | |
| | 2,055 | | | Goodman Group (Equity Real Estate Investment Trusts) | | | 21 | |
| | |
| | 2,273 | | | GPT Group (Equity Real Estate Investment Trusts) | | | 10 | |
| | |
| | 668 | | | Harvey Norman Holdings Ltd. (Multiline Retail) | | | 2 | |
| | |
| | 2,022 | | | Incitec Pivot Ltd. (Chemicals) | | | 5 | |
| | |
| | 2,910 | | | Insurance Australia Group Ltd. (Insurance) | | | 17 | |
| | |
| | 710 | | | Lend Lease Group Ltd. (Real Estate Management & Development) | | | 6 | |
| | |
| | 407 | | | Macquarie Group Ltd. (Capital Markets) | | | 36 | |
| | |
| | 3,468 | | | Medibank Private Ltd. (Insurance) | | | 9 | |
| | |
| | 4,920 | | | Mirvac Group (Equity Real Estate Investment Trusts) | | | 11 | |
| | |
| | 3,587 | | | National Australia Bank Ltd. (Banks) | | | 67 | |
| | |
| | 967 | | | Newcrest Mining Ltd. (Metals & Mining) | | | 22 | |
| | |
| | 479 | | | Orica Ltd. (Chemicals) | | | 7 | |
| | |
| | 2,216 | | | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) | | | 11 | |
| | |
| | 1,673 | | | QBE Insurance Group Ltd. (Insurance) | | | 14 | |
| | |
| | 66 | | | REA Group Ltd. (Interactive Media & Services) | | | 4 | |
| | |
| | 468 | | | Rio Tinto Ltd. (Metals & Mining) | | | 34 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Australia (continued) | |
| | |
| | 2,229 | | | Santos Ltd. (Oil, Gas & Consumable Fuels) | | $ | 11 | |
| | |
| | 6,695 | | | Scentre Group (Equity Real Estate Investment Trusts) | | | 18 | |
| | |
| | 420 | | | Seek Ltd. (Professional Services) | | | 6 | |
| | |
| | 567 | | | Sonic Healthcare Ltd. (Health Care Providers & Services) | | | 11 | |
| | |
| | 7,513 | | | South32 Ltd. (Metals & Mining) | | | 17 | |
| | |
| | 3,029 | | | Stockland Trust Group (Equity Real Estate Investment Trusts) | | | 9 | |
| | |
| | 1,635 | | | Suncorp Group Ltd. (Insurance) | | | 15 | |
| | |
| | 1,393 | | | Sydney Airport (Transportation Infrastructure) | | | 8 | |
| | |
| | 2,538 | | | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | | | 8 | |
| | |
| | 6,212 | | | Telstra Corp. Ltd. (Diversified Telecommunication Services) | | | 17 | |
| | |
| | 467 | | | TPG Telecom Ltd. (Diversified Telecommunication Services) | | | 2 | |
| | |
| | 3,369 | | | Transurban Group (Transportation Infrastructure) | | | 35 | |
| | |
| | 905 | | | Treasury Wine Estates Ltd. (Beverages) | | | 9 | |
| | |
| | 4,101 | | | Vicinity Centres (Equity Real Estate Investment Trusts) | | | 7 | |
| | |
| | 150 | | | Washington H Soul Pattinson & Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 2 | |
| | |
| | 1,427 | | | Wesfarmers Ltd. (Food & Staples Retailing) | | | 36 | |
| | |
| | 4,422 | | | Westpac Banking Corp. (Banks) | | | 88 | |
| | |
| | 1,241 | | | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | | | 33 | |
| | |
| | 1,585 | | | Woolworths Ltd. (Food & Staples Retailing) | | | 38 | |
| | |
| | 406 | | | WorleyParsons Ltd. (Energy Equipment & Services) | | | 4 | |
| | | | | | | | |
| | | | | | | 1,234 | |
| | | | | | | | |
| |
| | | | Austria — 0.09% | |
| | |
| | 91 | | | ANDRITZ AG (Machinery) | | | 3 | |
| | |
| | 378 | | | Erste Group Bank AG (Banks) | | | 13 | |
| | |
| | 237 | | | OMV AG (Oil, Gas & Consumable Fuels) | | | 12 | |
| | |
| | 287 | | | Raiffeisen Bank International AG (Banks) (b) | | | 7 | |
| | |
| | 86 | | | Verbund AG (Electric Utilities) | | | 5 | |
| | |
| | 146 | | | Voestalpine AG (Metals & Mining) | | | 5 | |
| | | | | | | | |
| | | | | | | 45 | |
| | | | | | | | |
| |
| | | | Belgium — 0.34% | |
| | |
| | 230 | | | Ageas (Insurance) | | | 12 | |
| | |
| | 977 | | | Anheuser-Busch InBev N.V. (Beverages) | | | 86 | |
| | |
| | 192 | | | Belgacom SA (Diversified Telecommunication Services) | | | 6 | |
| | |
| | 73 | | | Colruyt SA (Food & Staples Retailing) | | | 4 | |
| | |
| | 101 | | | Groupe Bruxelles Lambert SA (Diversified Financial Services) | | | 10 | |
| | |
| | 315 | | | KBC Groep N.V. (Banks) | | | 21 | |
| | |
| | 93 | | | Solvay SA (Chemicals) | | | 10 | |
| | |
| | 59 | | | Telenet Group Holding N.V. (Media) | | | 3 | |
| | |
| | 174 | | | UCB SA (Pharmaceuticals) | | | 14 | |
| | |
| | 249 | | | Umicore SA (Chemicals) (b) | | | 8 | |
| | | | | | | | |
| | | | | | | 174 | |
| | | | | | | | |
| | |
| | | | Bermuda — 0.24% | | | | |
| | |
| | 507 | | | Arch Capital Group Ltd. (Insurance) (a) | | | 18 | |
| | |
| | 203 | | | Athene Holding Ltd. (Insurance) (a) | | | 9 | |
| | |
| | 207 | | | Bunge Ltd. (Food Products) | | | 12 | |
See accompanying notes to financial statements.
147
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Bermuda (continued) | |
| | |
| | 51 | | | Everest Re Group Ltd. (Insurance) | | $ | 13 | |
| | |
| | 478 | | | IHS Markit Ltd. (Professional Services) (a) | | | 30 | |
| | |
| | 500 | | | Invesco Ltd. (Capital Markets) | | | 10 | |
| | |
| | 786 | | | Marvell Technology Group Ltd. (Semiconductors & Semiconductor Equipment) | | | 19 | |
| | |
| | 53 | | | RenaissanceRe Holdings Ltd. (Insurance) | | | 9 | |
| | |
| | 1,000 | | | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | | | 3 | |
| | | | | | | | |
| | | | | | | 123 | |
| | | | | | | | |
| |
| | | | Canada — 3.68% | |
| | |
| | 300 | | | Agnico-Eagle Mines Ltd. (Metals & Mining) | | | 15 | |
| | |
| | 600 | | | Alimentation Couche-Tard, Inc., Class – B (Food & Staples Retailing) | | | 38 | |
| | |
| | 300 | | | AltaGas Ltd. (Gas Utilities) | | | 5 | |
| | |
| | 100 | | | Atco Ltd. (Multi-Utilities) | | | 3 | |
| | |
| | 900 | | | Aurora Cannabis, Inc. (Pharmaceuticals) (a) | | | 7 | |
| | |
| | 819 | | | Bank of Montreal (Banks) | | | 62 | |
| | |
| | 1,572 | | | Bank of Nova Scotia (Banks) | | | 84 | |
| | |
| | 2,200 | | | Barrick Gold Corp. (Metals & Mining) | | | 35 | |
| | |
| | 200 | | | BCE, Inc. (Diversified Telecommunication Services) | | | 9 | |
| | |
| | 700 | | | Blackberry Ltd. (Software) (a) | | | 5 | |
| | |
| | 2,700 | | | Bombardier, Inc. (Aerospace & Defense) (a)(b) | | | 5 | |
| | |
| | 1,100 | | | Brookfield Asset Management, Inc. (Capital Markets) | | | 52 | |
| | |
| | 500 | | | Cameco Corp. (Oil, Gas & Consumable Fuels) | | | 5 | |
| | |
| | 600 | | | Canadian Imperial Bank of Commerce (Banks) | | | 47 | |
| | |
| | 929 | | | Canadian National Railway Co. (Road & Rail) | | | 86 | |
| | |
| | 1,600 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | | | 43 | |
| | |
| | 200 | | | Canadian Pacific Railway Ltd. (Road & Rail) | | | 47 | |
| | |
| | 100 | | | Canadian Tire Corp. Ltd., Class – A (Multiline Retail) | | | 11 | |
| | |
| | 200 | | | Canadian Utilities Ltd., Class – A (Multi-Utilities) | | | 6 | |
| | |
| | 300 | | | Canopy Growth Corp. (Pharmaceuticals)^ (a)(b) | | | 12 | |
| | |
| | 200 | | | CCL Industries, Inc., Class – B (Containers & Packaging) (b) | | | 10 | |
| | |
| | 1,300 | | | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 11 | |
| | |
| | 300 | | | CGI, Inc. (IT Services) (a) | | | 23 | |
| | |
| | 300 | | | Ci Financial Corp. (Capital Markets) | | | 5 | |
| | |
| | 26 | | | Constellation Software, Inc. (Software) | | | 25 | |
| | |
| | 200 | | | Cronos Group, Inc. (Pharmaceuticals)^ (a) | | | 3 | |
| | |
| | 400 | | | Dollarama, Inc. (Multiline Retail) | | | 14 | |
| | |
| | 100 | | | Emera, Inc. (Electric Utilities) (b) | | | 4 | |
| | |
| | 200 | | | Empire Co. Ltd. (Food & Staples Retailing) | | | 5 | |
| | |
| | 2,595 | | | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | | | 95 | |
| | |
| | 1,900 | | | Encana Corp. (Oil, Gas & Consumable Fuels) | | | 10 | |
| | |
| | 36 | | | Fairfax Financial Holdings Ltd. (Insurance) | | | 18 | |
| | |
| | 200 | | | First Capital Realty, Inc. (Real Estate Management & Development) | | | 3 | |
| | |
| | 900 | | | First Quantum Minerals Ltd. (Metals & Mining) | | | 9 | |
| | |
| | 550 | | | Fortis, Inc. (Electric Utilities) | | | 22 | |
| | |
| | 239 | | | Franco-Nevada Corp. (Metals & Mining) | | | 20 | |
| | |
| | 300 | | | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | | | 12 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Canada (continued) | |
| | |
| | 400 | | | Great-West Lifeco, Inc. (Insurance) | | $ | 9 | |
| | |
| | 200 | | | H&R Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 3 | |
| | |
| | 400 | | | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 4 | |
| | |
| | 400 | | | Hydro One Ltd. (Electric Utilities) (b) | | | 7 | |
| | |
| | 138 | | | iA Financial Corp., Inc. (Insurance) | | | 6 | |
| | |
| | 100 | | | IGM Financial, Inc. (Capital Markets) | | | 3 | |
| | |
| | 349 | | | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | | | 10 | |
| | |
| | 200 | | | Intact Financial Corp. (Insurance) (b) | | | 18 | |
| | |
| | 500 | | | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | �� | | 8 | |
| | |
| | 300 | | | Keyera Corp. (Oil, Gas & Consumable Fuels) (b) | | | 8 | |
| | |
| | 1,600 | | | Kinross Gold Corp. (Metals & Mining) (a) | | | 6 | |
| | |
| | 300 | | | Kirkland Lake Gold Ltd. (Metals & Mining) | | | 13 | |
| | |
| | 237 | | | Loblaw Companies Ltd. (Food & Staples Retailing) | | | 12 | |
| | |
| | 142 | | | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | | | 25 | |
| | |
| | 800 | | | Lundin Mining Corp. (Metals & Mining) (b) | | | 4 | |
| | |
| | 400 | | | Magna Internationl (Auto Components) | | | 20 | |
| | |
| | 2,500 | | | Manulife Financial Corp. (Insurance) | | | 45 | |
| | |
| | 100 | | | Methanex Corp. (Chemicals) | | | 5 | |
| | |
| | 300 | | | Metro, Inc. (Food & Staples Retailing) | | | 11 | |
| | |
| | 430 | | | National Bank of Canada (Banks) | | | 20 | |
| | |
| | 800 | | | Nutrien Ltd. (Chemicals) | | | 42 | |
| | |
| | 100 | | | Onex Corp. (Diversified Financial Services) | | | 6 | |
| | |
| | 345 | | | Open Text Corp. (Software) (b) | | | 14 | |
| | |
| | 652 | | | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels) | | | 24 | |
| | |
| | 400 | | | Power Corp. of Canada (Insurance) | | | 9 | |
| | |
| | 300 | | | Power Financial Corp. (Insurance) | | | 7 | |
| | |
| | 300 | | | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels)^ (b) | | | 4 | |
| | |
| | 200 | | | Quebecor, Inc. (Media) | | | 5 | |
| | |
| | 300 | | | Restaurant Brands International, Inc. (Hotels, Restaurants & Leisure) | | | 21 | |
| | |
| | 200 | | | RioCan Real Estate Investment Trust (Equity Real Estate Investment Trusts) (b) | | | 4 | |
| | |
| | 500 | | | Rogers Communications, Inc. (Wireless Telecommunication Services) | | | 27 | |
| | |
| | 1,841 | | | Royal Bank of Canada (Banks) | | | 147 | |
| | |
| | 300 | | | Saputo, Inc. (Food Products) (b) | | | 9 | |
| | |
| | 600 | | | Shaw Communications, Inc., Class – B (Media) | | | 12 | |
| | |
| | 126 | | | Shopify, Inc. (IT Services) (a) | | | 38 | |
| | |
| | 100 | | | Smartcentres Real Estate INV (Equity Real Estate Investment Trusts) | | | 3 | |
| | |
| | 200 | | | SNC-Lavalin Group, Inc. (Construction & Engineering) | | | 4 | |
| | |
| | 300 | | | Stars Group, Inc. (The) (Hotels, Restaurants & Leisure) (a) | | | 5 | |
| | |
| | 800 | | | Sun Life Financial, Inc. (Insurance) | | | 33 | |
| | |
| | 2,000 | | | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 62 | |
| | |
| | 1,200 | | | TC Energy Corp. (Oil, Gas & Consumable Fuels) | | | 59 | |
| | |
| | 700 | | | Teck Cominco Ltd., Class – B (Metals & Mining) | | | 16 | |
| | |
| | 300 | | | TELUS Corp. (Diversified Telecommunication Services) | | | 11 | |
| | |
| | 300 | | | Thomson Reuters Corp. (Professional Services) | | | 19 | |
See accompanying notes to financial statements.
148
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Canada (continued) | |
| | |
| | 2,348 | | | Toronto-Dominion Bank (Banks) | | $ | 138 | |
| | |
| | 300 | | | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) | | | 4 | |
| | |
| | 200 | | | Vermilion Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 4 | |
| | |
| | 300 | | | Waste Connections, Inc. (Commercial Services & Supplies) | | | 29 | |
| | |
| | 100 | | | West Fraser Timber Co. Ltd. (Paper & Forest Products) | | | 5 | |
| | |
| | 100 | | | Weston (George) Ltd. (Food & Staples Retailing) | | | 8 | |
| | |
| | 600 | | | Wheaton Precious Metals Corp. (Metals & Mining) | | | 15 | |
| | |
| | 134 | | | WSP Global, Inc. (Construction & Engineering) | | | 7 | |
| | | | | | | | |
| | | | | | | 1,894 | |
| | | | | | | | |
| |
| | | | China — 0.04% | |
| | |
| | 300 | | | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | | | 19 | |
| | | | | | | | |
| |
| | | | Denmark — 0.34% | |
| | |
| | 5 | | | A.P. Moller – Maersk A/S, Class – A (Marine) | | | 6 | |
| | |
| | 8 | | | A.P. Moller – Maersk A/S, Class – B (Marine) | | | 10 | |
| | |
| | 135 | | | Carlsberg A/S, Class – B (Beverages) | | | 18 | |
| | |
| | 133 | | | Christian Hansen Holding A/S (Chemicals) (b) | | | 13 | |
| | |
| | 149 | | | Coloplast A/S, Class – B (Health Care Equipment & Supplies) | | | 17 | |
| | |
| | 846 | | | Danske Bank A/S (Banks) | | | 13 | |
| | |
| | 143 | | | Demant A/S (Health Care Equipment & Supplies) (a) | | | 4 | |
| | |
| | 225 | | | DSV A/S (Road & Rail) | | | 22 | |
| | |
| | 199 | | | ISS A/S (Commercial Services & Supplies) | | | 6 | |
| | |
| | 275 | | | Novozymes A/S, B Shares (Chemicals) | | | 13 | |
| | |
| | 238 | | | Orsted A/S (Electric Utilities) (b) | | | 21 | |
| | |
| | 132 | | | Pandora A/S (Textiles, Apparel & Luxury Goods) (b) | | | 5 | |
| | |
| | 168 | | | Tryg A/S (Insurance) | | | 5 | |
| | |
| | 246 | | | Vestas Wind Systems A/S (Electrical Equipment) | | | 21 | |
| | | | | | | | |
| | | | | | | 174 | |
| | | | | | | | |
| |
| | | | Finland — 0.39% | |
| | |
| | 179 | | | Elisa Oyj (Diversified Telecommunication Services) | | | 9 | |
| | |
| | 559 | | | Fortum Oyj (Electric Utilities) | | | 12 | |
| | |
| | 427 | | | Kone Oyj (Machinery) | | | 26 | |
| | |
| | 133 | | | Metso Oyj (Machinery) | | | 5 | |
| | |
| | 533 | | | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | | | 18 | |
| | |
| | 7,097 | | | Nokia Oyj (Communications Equipment) | | | 35 | |
| | |
| | 156 | | | Nokian Renkaat Oyj (Auto Components) | | | 5 | |
| | |
| | 3,825 | | | Nordea Bank Abp (Banks) | | | 28 | |
| | |
| | 558 | | | Sampo Oyj, Class – A (Insurance) (b) | | | 26 | |
| | |
| | 732 | | | Stora Enso Oyj, R Shares (Paper & Forest Products) | | | 9 | |
| | |
| | 672 | | | UPM-Kymmene Oyj (Paper & Forest Products) | | | 17 | |
| | |
| | 558 | | | Wartsila Oyj, Class – B (Machinery) | | | 9 | |
| | | | | | | | |
| | | | | | | 199 | |
| | | | | | | | |
| |
| | | | Fox Corp. — 0.05% | |
| | |
| | 443 | | | Fox Corp., Class – A (Media) | | | 16 | |
| | |
| | 218 | | | Fox Corp., Class – B (Media) | | | 8 | |
| | | | | | | | |
| | | | | | | 24 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | France — 3.27% | |
| | |
| | 231 | | | Accor SA (Hotels, Restaurants & Leisure) (b) | | $ | 10 | |
| | |
| | 37 | | | Aeroports de Paris (Transportation Infrastructure) | | | 7 | |
| | |
| | 551 | | | Air Liquide SA (Chemicals) | | | 77 | |
| | |
| | 197 | | | Alstom SA (Machinery) | | | 9 | |
| | |
| | 77 | | | Amundi SA (Capital Markets) (b) | | | 5 | |
| | |
| | 113 | | | Arkema SA (Chemicals) | | | 11 | |
| | |
| | 121 | | | Atos SE (IT Services) | | | 10 | |
| | |
| | 2,505 | | | AXA SA (Insurance) | | | 66 | |
| | |
| | 1,452 | | | BNP Paribas (Banks) | | | 69 | |
| | |
| | 1,106 | | | Bollore SA (Air Freight & Logistics) | | | 5 | |
| | |
| | 281 | | | Bouygues SA (Construction & Engineering) | | | 10 | |
| | |
| | 362 | | | Bureau Veritas SA (Professional Services) (b) | | | 9 | |
| | |
| | 201 | | | Capgemini SE (IT Services) | | | 26 | |
| | |
| | 776 | | | Carrefour SA (Food & Staples Retailing) | | | 15 | |
| | |
| | 123 | | | Casino Guichard-Perrachon SA (Food & Staples Retailing) | | | 4 | |
| | |
| | 216 | | | CNP Assurances (Insurance) | | | 5 | |
| | |
| | 619 | | | Compagnie de Saint-Gobain (Building Products) | | | 24 | |
| | |
| | 215 | | | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | | | 27 | |
| | |
| | 1,444 | | | Credit Agricole SA (Banks) | | | 17 | |
| | |
| | 797 | | | Danone SA (Food Products) | | | 67 | |
| | |
| | 165 | | | Dassault Systemes SE (Software) | | | 26 | |
| | |
| | 302 | | | Edenred (Commercial Services & Supplies) | | | 16 | |
| | |
| | 115 | | | Eiffage SA (Construction & Engineering) (b) | | | 11 | |
| | |
| | 940 | | | Electricite de France SA (Electric Utilities) | | | 12 | |
| | |
| | 2,300 | | | ENGIE (Multi-Utilities) | | | 35 | |
| | |
| | 364 | | | Essilor International SA (Health Care Equipment & Supplies) | | | 47 | |
| | |
| | 50 | | | Eurazeo SE (Diversified Financial Services) (b) | | | 3 | |
| | |
| | 330 | | | Eutelsat Communications (Media) (b) | | | 6 | |
| | |
| | 95 | | | Faurecia (Auto Components) | | | 4 | |
| | |
| | 57 | | | Fonciere des Regions (Equity Real Estate Investment Trusts) | | | 6 | |
| | |
| | 58 | | | Gecina SA (Equity Real Estate Investment Trusts) (b) | | | 9 | |
| | |
| | 554 | | | Getlink SE (Transportation Infrastructure) | | | 8 | |
| | |
| | 40 | | | Hermes International (Textiles, Apparel & Luxury Goods) | | | 29 | |
| | |
| | 37 | | | Icade (Equity Real Estate Investment Trusts) | | | 3 | |
| | |
| | 33 | | | Iliad SA (Diversified Telecommunication Services) | | | 4 | |
| | |
| | 45 | | | Imerys SA (Construction Materials) | | | 2 | |
| | |
| | 76 | | | Ingenico Group SA (Electronic Equipment, Instruments & Components) | | | 7 | |
| | |
| | 47 | | | Ipsen SA (Pharmaceuticals) | | | 6 | |
| | |
| | 93 | | | JC Decaux SA (Media) (b) | | | 3 | |
| | |
| | 97 | | | Kering (Textiles, Apparel & Luxury Goods) | | | 57 | |
| | |
| | 258 | | | Klepierre (Equity Real Estate Investment Trusts) | | | 9 | |
| | |
| | 336 | | | Legrand SA (Electrical Equipment) | | | 25 | |
| | |
| | 323 | | | L’Oreal SA (Personal Products) | | | 92 | |
| | |
| | 356 | | | LVMH Moet Hennessy Louis Vuitton SA (Textiles, Apparel & Luxury Goods) | | | 152 | |
| | |
| | 1,190 | | | Natixism SA (Capital Markets) | | | 5 | |
| | |
| | 2,578 | | | Orange SA (Diversified Telecommunication Services) (b) | | | 40 | |
| | |
| | 275 | | | Pernod Ricard SA (Beverages) | | | 51 | |
See accompanying notes to financial statements.
149
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | France (continued) | |
| | |
| | 849 | | | Peugeot SA (Automobiles) | | $ | 21 | |
| | |
| | 277 | | | Publicis Groupe (Media) | | | 15 | |
| | |
| | 29 | | | Remy Cointreau SA (Beverages) | | | 4 | |
| | |
| | 242 | | | Renault SA (Automobiles) (b) | | | 15 | |
| | |
| | 34 | | | Sartorius Stedim Biotech (Life Sciences Tools & Services) | | | 5 | |
| | |
| | 711 | | | Schneider Electric SA (Electrical Equipment) (b) | | | 64 | |
| | |
| | 205 | | | SCOR SE (Insurance) | | | 9 | |
| | |
| | 29 | | | Seb SA (Household Durables) | | | 5 | |
| | |
| | 31 | | | Societe BIC SA (Commercial Services & Supplies) | | | 2 | |
| | |
| | 966 | | | Societe Generale (Banks) | | | 24 | |
| | |
| | 111 | | | Sodexo (Hotels, Restaurants & Leisure) | | | 13 | |
| | |
| | 431 | | | Suez Environnement Co. (Multi-Utilities) | | | 6 | |
| | |
| | 73 | | | Teleperformance (Professional Services) | | | 15 | |
| | |
| | 3,050 | | | Total SA (Oil, Gas & Consumable Fuels) | | | 171 | |
| | |
| | 105 | | | UbiSoft Entertainment SA (Entertainment) (a) | | | 8 | |
| | |
| | 174 | | | Unibail – Rodamco-Westfield (Equity Real Estate Investment Trusts) | | | 26 | |
| | |
| | 303 | | | Valeo SA (Auto Components) | | | 10 | |
| | |
| | 695 | | | Veolia Environnement (Multi-Utilities) | | | 17 | |
| | |
| | 652 | | | Vinci SA (Construction & Engineering) | | | 67 | |
| | |
| | 1,151 | | | Vivendi SA (Entertainment) | | | 32 | |
| | |
| | 37 | | | Wendel SA (Diversified Financial Services) | | | 6 | |
| | |
| | 103 | | | Worldline SA (IT Services) (a)(b) | | | 7 | |
| | | | | | | | |
| | | | | | | 1,683 | |
| | | | | | | | |
| |
| | | | Germany — 2.63% | |
| | |
| | 231 | | | Adidas AG (Textiles, Apparel & Luxury Goods) | | | 72 | |
| | |
| | 552 | | | Allianz SE (Insurance) | | | 134 | |
| | |
| | 995 | | | Aroundtown SA (Real Estate Management & Development) (b) | | | 8 | |
| | |
| | 61 | | | Axel Springer AG (Media) | | | 4 | |
| | |
| | 1,178 | | | BASF SE (Chemicals) | | | 87 | |
| | |
| | 417 | | | Bayerische Motoren Werke AG (Automobiles) | | | 31 | |
| | |
| | 127 | | | Beiersdorf AG (Personal Products) | | | 15 | |
| | |
| | 195 | | | Brenntag AG (Trading Companies & Distributors) | | | 10 | |
| | |
| | 51 | | | Carl Zeiss Meditec AG (Health Care Equipment & Supplies) | | | 5 | |
| | |
| | 1,261 | | | Commerzbank AG (Banks) | | | 9 | |
| | |
| | 139 | | | Continental AG (Auto Components) | | | 20 | |
| | |
| | 219 | | | Covestro AG (Chemicals) (b) | | | 11 | |
| | |
| | 1,175 | | | Daimler AG, Registered Shares (Automobiles) | | | 65 | |
| | |
| | 142 | | | Delivery Hero Se (Internet & Direct Marketing Retail) (a)(b) | | | 6 | |
| | |
| | 2,472 | | | Deutsche Bank AG (Capital Markets) | | | 19 | |
| | |
| | 239 | | | Deutsche Boerse AG (Capital Markets) | | | 34 | |
| | |
| | 299 | | | Deutsche Lufthansa AG, Registered Shares (Airlines) | | | 5 | |
| | |
| | 1,289 | | | Deutsche Post AG (Air Freight & Logistics) | | | 42 | |
| | |
| | 4,276 | | | Deutsche Telekom AG (Diversified Telecommunication Services) | | | 74 | |
| | |
| | 449 | | | Deutsche Wohnen AG (Real Estate Management & Development) | | | 16 | |
| | |
| | 67 | | | Drillisch AG (Wireless Telecommunication Services) | | | 2 | |
| | |
| | 2,772 | | | E.ON AG (Multi-Utilities) | | | 30 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Germany (continued) | |
| | |
| | 235 | | | Evonik Industries AG (Chemicals) (b) | | $ | 7 | |
| | |
| | 52 | | | Fraport AG (Transportation Infrastructure) | | | 4 | |
| | |
| | 271 | | | Fresenius Medical Care AG & Co. KGAA (Health Care Providers & Services) | | | 21 | |
| | |
| | 194 | | | GEA Group AG (Machinery) | | | 6 | |
| | |
| | 76 | | | Hannover Rueckversicherung AG (Insurance) | | | 12 | |
| | |
| | 188 | | | HeidelbergCement AG (Construction Materials) | | | 15 | |
| | |
| | 131 | | | Henkel AG & Co. KGAA (Household Products) | | | 12 | |
| | |
| | 51 | | | Hochtief AG (Construction & Engineering) (b) | | | 6 | |
| | |
| | 80 | | | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | | | 5 | |
| | |
| | 1,432 | | | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | | | 25 | |
| | |
| | 175 | | | Innogy SE (Multi-Utilities) (b) | | | 8 | |
| | |
| | 102 | | | KION Group AG (Machinery) (b) | | | 6 | |
| | |
| | 61 | | | Knorr-Bremse AG (Machinery) | | | 7 | |
| | |
| | 109 | | | Lanxess AG (Chemicals) | | | 6 | |
| | |
| | 227 | | | Metro AG (Food & Staples Retailing) | | | 4 | |
| | |
| | 66 | | | MTU Aero Engines AG (Aerospace & Defense) | | | 16 | |
| | |
| | 192 | | | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | | | 48 | |
| | |
| | 104 | | | Puma SE (Textiles, Apparel & Luxury Goods) | | | 7 | |
| | |
| | 689 | | | RWE AG (Multi-Utilities) | | | 17 | |
| | |
| | 1,261 | | | SAP SE (Software) | | | 174 | |
| | |
| | 45 | | | Sartorius AG (Health Care Equipment & Supplies) | | | 9 | |
| | |
| | 981 | | | Siemens AG (Industrial Conglomerates) | | | 118 | |
| | |
| | 189 | | | Siemens Healthineers AG (Health Care Equipment & Supplies) (b) | | | 8 | |
| | |
| | 162 | | | Symrise AG (Chemicals) (b) | | | 16 | |
| | |
| | 1,124 | | | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | | | 3 | |
| | |
| | 509 | | | ThyssenKrupp AG (Metals & Mining) | | | 7 | |
| | |
| | 555 | | | TUI AG (Hotels, Restaurants & Leisure) | | | 5 | |
| | |
| | 254 | | | Uniper SE (Independent Power and Renewable Electricity Producers) | | | 8 | |
| | |
| | 155 | | | United Internet AG (Diversified Telecommunication Services) (b) | | | 5 | |
| | |
| | 41 | | | Volkswagen AG (Automobiles) | | | 7 | |
| | |
| | 619 | | | Vonovia SE (Real Estate Management & Development) | | | 30 | |
| | |
| | 147 | | | Wirecard AG (IT Services) | | | 25 | |
| | |
| | 158 | | | Zalando Se (Internet & Direct Marketing Retail) (a)(b) | | | 7 | |
| | | | | | | | |
| | | | | | | 1,353 | |
| | | | | | | | |
| |
| | | | Hong Kong — 1.29% | |
| | |
| | 15,492 | | | AIA Group Ltd. (Insurance) | | | 167 | |
| | |
| | 400 | | | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) (b) | | | 4 | |
| | |
| | 5,000 | | | BOC Hong Kong (Holdings) Ltd. (Banks) | | | 20 | |
| | |
| | 3,500 | | | CK Asset Holdings Ltd. (Real Estate Management & Development) | | | 27 | |
| | |
| | 1,000 | | | CK Infrastructure Holdings Ltd. (Electric Utilities) | | | 8 | |
| | |
| | 2,000 | | | CLP Holdings Ltd. (Electric Utilities) | | | 22 | |
| | |
| | 400 | | | Dairy Farm International Holdings Ltd. (Food & Staples Retailing) | | | 3 | |
See accompanying notes to financial statements.
150
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Hong Kong (continued) | |
| | |
| | 3,000 | | | Galaxy Entertainment Group Ltd. (Hotels, Restaurants & Leisure) | | $ | 20 | |
| | |
| | 3,000 | | | Hang Lung Properties Ltd. (Real Estate Management & Development) | | | 7 | |
| | |
| | 1,000 | | | Hang Seng Bank Ltd. (Banks) | | | 25 | |
| | |
| | 2,000 | | | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | | | 11 | |
| | |
| | 3,500 | | | HK Electric Investments Ltd. (Electric Utilities) | | | 4 | |
| | |
| | 5,000 | | | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) (b) | | | 8 | |
| | |
| | 13,000 | | | Hong Kong & China Gas Co. Ltd. (Gas Utilities) | | | 29 | |
| | |
| | 1,500 | | | Hong Kong Exchanges & Clearing Ltd. (Capital Markets) | | | 53 | |
| | |
| | 1,500 | | | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | | | 10 | |
| | |
| | 1,000 | | | Hysan Development Co. (Real Estate Management & Development) | | | 5 | |
| | |
| | 300 | | | Jardine Strategic Holdings Ltd. (Industrial Conglomerates) | | | 12 | |
| | |
| | 1,000 | | | Kerry Properties Ltd. (Real Estate Management & Development) | | | 4 | |
| | |
| | 260 | | | Melco Crown Entertainment Ltd., ADR (Hotels, Restaurants & Leisure) | | | 6 | |
| | |
| | 1,200 | | | MGM China Holdings Ltd. (Hotels, Restaurants & Leisure) (b) | | | 2 | |
| | |
| | 2,000 | | | MTR Corp. Ltd. (Road & Rail) | | | 13 | |
| | |
| | 8,000 | | | New World Development Co. Ltd. (Real Estate Management & Development) | | | 13 | |
| | |
| | 2,000 | | | NWS Holdings Ltd. (Industrial Conglomerates) | | | 4 | |
| | |
| | 5,000 | | | PCCW Ltd. (Diversified Telecommunication Services) (b) | | | 3 | |
| | |
| | 1,779 | | | Power Assets Holdings Ltd. (Electric Utilities) | | | 13 | |
| | |
| | 3,200 | | | Sands China Ltd. (Hotels, Restaurants & Leisure) | | | 15 | |
| | |
| | 2,000 | | | Shangri-La Asia Ltd. (Hotels, Restaurants & Leisure) | | | 3 | |
| | |
| | 4,000 | | | Sino Land Co. Ltd. (Real Estate Management & Development) | | | 7 | |
| | |
| | 2,000 | | | SJM Holdings Ltd. (Hotels, Restaurants & Leisure) | | | 2 | |
| | |
| | 2,000 | | | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | | | 34 | |
| | |
| | 639 | | | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | | | 8 | |
| | |
| | 1,400 | | | Swire Properties Ltd. (Real Estate Management & Development) | | | 6 | |
| | |
| | 1,757 | | | Techtronic Industries Co. (Household Durables) | | | 13 | |
| | |
| | 1,600 | | | The Bank of East Asia Ltd. (Banks) | | | 4 | |
| | |
| | 2,706 | | | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 33 | |
| | |
| | 2,000 | | | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | | | 5 | |
| | |
| | 953 | | | Vitasoy International Holdings Ltd. (Food Products) | | | 5 | |
| | |
| | 12,000 | | | WH Group Ltd. (Food Products) (b) | | | 12 | |
| | |
| | 2,000 | | | Wharf Real Estate Investment Co. Ltd. (Real Estate Management & Development) | | | 14 | |
| | |
| | 1,000 | | | Wheelock & Co. Ltd. (Real Estate Management & Development) | | | 7 | |
| | |
| | 2,000 | | | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | | | 4 | |
| | | | | | | | |
| | | | | | | 665 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Ireland (Republic of) — 0.86% | |
| | |
| | 1,025 | | | AIB Group PLC (Banks) | | $ | 4 | |
| | |
| | 197 | | | Alkermes PLC (Biotechnology) (a) | | | 4 | |
| | |
| | 119 | | | Allegion PLC (Building Products) | | | 14 | |
| | |
| | 1,223 | | | Bank of Ireland Group PLC (Banks) | | | 7 | |
| | |
| | 1,021 | | | CRH PLC (Construction Materials) (b) | | | 34 | |
| | |
| | 124 | | | DCC PLC (Industrial Conglomerates) (b) | | | 11 | |
| | |
| | 548 | | | Eaton Corp. PLC (Electrical Equipment) | | | 45 | |
| | |
| | 1,146 | | | Experian PLC (Professional Services) | | | 35 | |
| | |
| | 300 | | | Ingersoll-Rand PLC (Machinery) | | | 38 | |
| | |
| | 557 | | | James Hardie Industries SE (Construction Materials) | | | 7 | |
| | |
| | 200 | | | Kerry Group PLC (Food Products) | | | 24 | |
| | |
| | 193 | | | Kingspan Group PLC (Building Products) | | | 10 | |
| | |
| | 1,729 | | | Medtronic PLC (Health Care Equipment & Supplies) | | | 167 | |
| | |
| | 98 | | | Paddy Power PLC (Hotels, Restaurants & Leisure) | | | 7 | |
| | |
| | 205 | | | Pentair PLC (Machinery) | | | 8 | |
| | |
| | 284 | | | Smurfit Kappa Group PLC (Containers & Packaging) | | | 9 | |
| | |
| | 106 | | | STERIS PLC (Health Care Equipment & Supplies) | | | 16 | |
| | | | | | | | |
| | | | | | | 440 | |
| | | | | | | | |
| |
| | | | Isle of Man — 0.01% | |
| | |
| | 732 | | | GVC Holdings PLC (Hotels, Restaurants & Leisure) | | | 6 | |
| | | | | | | | |
| |
| | | | Israel — 0.17% | |
| | |
| | 53 | | | Azrieli Group (Real Estate Management & Development) | | | 4 | |
| | |
| | 1,427 | | | Bank Hapoalim Ltd. (Banks) (a) | | | 11 | |
| | |
| | 1,880 | | | Bank Leumi Le (Banks) | | | 13 | |
| | |
| | 157 | | | Checkpoint Software Technologies Ltd. (Software) (a) | | | 18 | |
| | |
| | 47 | | | CyberArk Software Ltd. (Software) (a) | | | 6 | |
| | |
| | 887 | | | Israel Chemicals Ltd. (Chemicals) (b) | | | 5 | |
| | |
| | 1,466 | | | Israel Discount Bank, Class – A (Banks) | | | 6 | |
| | |
| | 176 | | | Mizrahi Tefahot Bank Ltd. (Banks) (a) | | | 4 | |
| | |
| | 78 | | | Nice Ltd. (Software) (a) | | | 11 | |
| | |
| | 58 | | | Wix.com Ltd. (IT Services) (a) | | | 8 | |
| | | | | | | | |
| | | | | | | 86 | |
| | | | | | | | |
| |
| | | | Italy — 0.73% | |
| | |
| | 1,396 | | | Assicurazioni Generali SpA (Insurance) | | | 26 | |
| | |
| | 624 | | | Atlantia SpA (Transportation Infrastructure) | | | 16 | |
| | |
| | 731 | | | Davide Campari – Milano SpA (Beverages) | | | 7 | |
| | |
| | 10,653 | | | Enel SpA (Electric Utilities) (b) | | | 75 | |
| | |
| | 3,282 | | | Eni SpA (Oil, Gas & Consumable Fuels) | | | 55 | |
| | |
| | 153 | | | Ferrari N.V. (Automobiles) | | | 25 | |
| | |
| | 1,366 | | | Fiat DaimlerChrysler Automobiles N.V. (Automobiles) | | | 19 | |
| | |
| | 652 | | | FinecoBank Banca Fineco SpA (Banks) | | | 7 | |
| | |
| | 19,034 | | | Intesa Sanpaolo SpA (Banks) (b) | | | 40 | |
| | |
| | 781 | | | Mediobanca SpA (Banks) (b) | | | 8 | |
| | |
| | 225 | | | Moncler SpA (Textiles, Apparel & Luxury Goods) | | | 10 | |
| | |
| | 503 | | | Pirelli & C SpA (Auto Components) (b) | | | 3 | |
| | |
| | 658 | | | Poste Italiane SpA (Insurance) (b) | | | 7 | |
| | |
| | 304 | | | Prusmian SpA (Electrical Equipment) | | | 6 | |
| | |
| | 132 | | | Recordati SpA (Pharmaceuticals) | | | 6 | |
| | |
| | 2,621 | | | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | | | 13 | |
See accompanying notes to financial statements.
151
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Italy (continued) | |
| | |
| | 11,485 | | | Telecom Italia SpA (Diversified Telecommunication Services) (a) | | $ | 6 | |
| | |
| | 7,590 | | | Telecom Italia SpA Rsp (Diversified Telecommunication Services) | | | 4 | |
| | |
| | 1,771 | | | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | | | 11 | |
| | |
| | 2,527 | | | Unicredit SpA (Banks) | | | 31 | |
| | | | | | | | |
| | | | | | | 375 | |
| | | | | | | | |
| |
| | | | Japan — 7.70% | |
| | |
| | 42 | | | ABC-Mart, Inc. (Specialty Retail) | | | 3 | |
| | |
| | 500 | | | ACOM Co. Ltd. (Consumer Finance) | | | 2 | |
| | |
| | 300 | | | Advantest Corp. (Semiconductors & Semiconductor Equipment) (b) | | | 8 | |
| | |
| | 800 | | | Aeon Co. Ltd. (Food & Staples Retailing) | | | 14 | |
| | |
| | 100 | | | AEON Credit Service Co. Ltd. (Consumer Finance) | | | 2 | |
| | |
| | 100 | | | AEON Mall Co. Ltd. (Real Estate Management & Development) | | | 2 | |
| | |
| | 200 | | | Air Water, Inc. (Chemicals) | | | 3 | |
| | |
| | 200 | | | Aisin Seiki Co. Ltd. (Auto Components) | | | 7 | |
| | |
| | 600 | | | Ajinomoto Co., Inc. (Food Products) | | | 10 | |
| | |
| | 200 | | | Alfresa Holdings Corp. (Health Care Providers & Services) | | | 5 | |
| | |
| | 200 | | | All Nippon Airways Co. Ltd. (Airlines) | | | 6 | |
| | |
| | 300 | | | ALPS Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 5 | |
| | |
| | 400 | | | Amada Holdings Co. Ltd. (Machinery) | | | 5 | |
| | |
| | 200 | | | Aozora Bank Ltd. (Banks) | | | 5 | |
| | |
| | 200 | | | Asahi Glass Co. Ltd. (Building Products) | | | 7 | |
| | |
| | 500 | | | Asahi Group Holdings Ltd. (Beverages) | | | 23 | |
| | |
| | 200 | | | ASAHI INTECC Co. Ltd. (Health Care Equipment & Supplies) | | | 5 | |
| | |
| | 100 | | | Benesse Holdings, Inc. (Diversified Consumer Services) | | | 2 | |
| | |
| | 733 | | | Bridgestone Corp. (Auto Components) | | | 29 | |
| | |
| | 300 | | | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | | | 6 | |
| | |
| | 100 | | | CALBEE, Inc. (Food Products) | | | 3 | |
| | |
| | 1,300 | | | Canon, Inc. (Technology Hardware, Storage & Peripherals) | | | 38 | |
| | |
| | 200 | | | Casio Computer Co. Ltd. (Household Durables) | | | 2 | |
| | |
| | 200 | | | Central Japan Railway Co. (Road & Rail) | | | 39 | |
| | |
| | 100 | | | Century Tokyo Leasing Corp. (Diversified Financial Services) | | | 4 | |
| | |
| | 800 | | | Chubu Electric Power Company, Inc. (Electric Utilities) | | | 12 | |
| | |
| | 200 | | | Coca-Cola West Co. Ltd. (Beverages) | | | 5 | |
| | |
| | 1,400 | | | Concordia Financial Group Ltd. (Banks) | | | 5 | |
| | |
| | 200 | | | Credit Saison Co. Ltd. (Consumer Finance) | | | 2 | |
| | |
| | 100 | | | CyberAgent, Inc. (Media) | | | 4 | |
| | |
| | 300 | | | Daicel Corp. (Chemicals) | | | 3 | |
| | |
| | 130 | | | Daifuku Co. Ltd. (Machinery) | | | 7 | |
| | |
| | 320 | | | Daikin Industries Ltd. (Building Products) | | | 42 | |
| | |
| | 100 | | | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | | | 13 | |
| | |
| | 700 | | | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | | | 20 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 2 | | | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) (b) | | $ | 5 | |
| | |
| | 1,900 | | | Daiwa Securities Group, Inc. (Capital Markets) | | | 8 | |
| | |
| | 556 | | | Denso Corp. (Auto Components) | | | 23 | |
| | |
| | 300 | | | Dentsu, Inc. (Media) | | | 10 | |
| | |
| | 35 | | | Disco Corp. (Semiconductors & Semiconductor Equipment) | | | 6 | |
| | |
| | 142 | | | Don Quijote Co. Ltd. (Multiline Retail) | | | 9 | |
| | |
| | 400 | | | East Japan Railway Co. (Road & Rail) | | | 37 | |
| | |
| | 200 | | | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | | | 5 | |
| | |
| | 300 | | | FamilyMart Co. Ltd. (Food & Staples Retailing) | | | 7 | |
| | |
| | 249 | | | Fanuc Ltd. (Machinery) | | | 47 | |
| | |
| | 100 | | | Fast Retailing Co. Ltd. (Specialty Retail) | | | 60 | |
| | |
| | 200 | | | Fuji Electric Co. Ltd. (Electrical Equipment) | | | 7 | |
| | |
| | 800 | | | Fuji Heavy Industries Ltd. (Automobiles) | | | 19 | |
| | |
| | 500 | | | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 25 | |
| | |
| | 252 | | | Fujitsu Ltd. (IT Services) (b) | | | 18 | |
| | |
| | 200 | | | Fukuoka Financial Group, Inc. (Banks) | | | 4 | |
| | |
| | 100 | | | GMO Payment Gateway, Inc. (IT Services) | | | 7 | |
| | |
| | 300 | | | Hakuhodo DY Holdings, Inc. (Media) | | | 5 | |
| | |
| | 200 | | | Hamamatsu Photonics K.K. (Electronic Equipment, Instruments & Components) | | | 8 | |
| | |
| | 300 | | | Hankyu Hanshin Holdings, Inc. (Road & Rail) | | | 11 | |
| | |
| | 27 | | | Hikari Tsushin, Inc. (Specialty Retail) | | | 6 | |
| | |
| | 400 | | | Hino Motors Ltd. (Machinery) | | | 3 | |
| | |
| | 42 | | | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 5 | |
| | |
| | 100 | | | Hisamitsu Pharmaceutical Co., Inc. (Pharmaceuticals) | | | 4 | |
| | |
| | 100 | | | Hitachi Chemical Co. Ltd. (Chemicals) | | | 3 | |
| | |
| | 100 | | | Hitachi Construction Machinery Co. Ltd. (Machinery) | | | 3 | |
| | |
| | 100 | | | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | | | 5 | |
| | |
| | 1,240 | | | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | | | 46 | |
| | |
| | 300 | | | Hitachi Metals Ltd. (Metals & Mining) | | | 3 | |
| | |
| | 2,100 | | | Honda Motor Co. Ltd. (Automobiles) | | | 54 | |
| | |
| | 100 | | | Hoshizaki Electric Co. Ltd. (Machinery) | | | 7 | |
| | |
| | 500 | | | HOYA Corp. (Health Care Equipment & Supplies) | | | 38 | |
| | |
| | 300 | | | Hulic Co. Ltd. (Real Estate Management & Development) | | | 2 | |
| | |
| | 252 | | | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) (b) | | | 8 | |
| | |
| | 200 | | | IHI Corp. (Machinery) | | | 5 | |
| | |
| | 200 | | | Iida Group Holdings Co. Ltd. (Household Durables) | | | 3 | |
| | |
| | 1,300 | | | INPEX Corp. (Oil, Gas & Consumable Fuels) | | | 12 | |
| | |
| | 400 | | | Isetan Mitsukoshi Holdings Ltd. (Multiline Retail) | | | 3 | |
| | |
| | 700 | | | Isuzu Motors Ltd. (Automobiles) | | | 8 | |
| | |
| | 1,700 | | | ITOCHU Corp. (Trading Companies & Distributors) | | | 33 | |
| | |
| | 100 | | | ITOCHU Techno-Solutions Corp. (IT Services) | | | 3 | |
| | |
| | 300 | | | J. Front Retailing Co. Ltd. (Multiline Retail) | | | 3 | |
| | |
| | 148 | | | Japan Airlines Co. Ltd. (Airlines) | | | 5 | |
| | |
| | 100 | | | Japan Airport Terminal Co. Ltd. (Transportation Infrastructure) | | | 5 | |
See accompanying notes to financial statements.
152
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 700 | | | Japan Exchange Group, Inc. (Capital Markets) | | $ | 11 | |
| | |
| | 500 | | | Japan Post Bank Co. Ltd. (Banks) | | | 5 | |
| | |
| | 2,000 | | | Japan Post Holdings Co. Ltd. (Insurance) (b) | | | 23 | |
| | |
| | 1 | | | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | | | 4 | |
| | |
| | 2 | | | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | | | 12 | |
| | |
| | 3 | | | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | | | 6 | |
| | |
| | 600 | | | JFE Holdings, Inc. (Metals & Mining) | | | 9 | |
| | |
| | 300 | | | JGC Corp. (Construction & Engineering) | | | 4 | |
| | |
| | 300 | | | JS Group Corp. (Building Products) | | | 5 | |
| | |
| | 200 | | | JSR Corp. (Chemicals) | | | 3 | |
| | |
| | 300 | | | JTEKT Corp. (Machinery) | | | 4 | |
| | |
| | 4,100 | | | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 20 | |
| | |
| | 600 | | | Kajima Corp. (Construction & Engineering) | | | 8 | |
| | |
| | 200 | | | Kakaku.com, Inc. (Interactive Media & Services) | | | 4 | |
| | |
| | 100 | | | Kamigumi Co. Ltd. (Transportation Infrastructure) | | | 2 | |
| | |
| | 100 | | | Kaneka Corp. (Chemicals) | | | 4 | |
| | |
| | 200 | | | Kansai Paint Co. Ltd. (Chemicals) | | | 4 | |
| | |
| | 627 | | | Kao Corp. (Personal Products) | | | 48 | |
| | |
| | 200 | | | Kawasaki Heavy Industries Ltd. (Machinery) | | | 5 | |
| | |
| | 2,274 | | | KDDI Corp. (Wireless Telecommunication Services) | | | 58 | |
| | |
| | 100 | | | Keihan Holdings Co. Ltd. (Industrial Conglomerates) | | | 4 | |
| | |
| | 300 | | | Keikyu Corp. (Road & Rail) | | | 5 | |
| | |
| | 132 | | | Keio Corp. (Road & Rail) | | | 9 | |
| | |
| | 200 | | | Keisei Electric Railway Co. Ltd. (Road & Rail) | | | 7 | |
| | |
| | 117 | | | Keyence Corp. (Electronic Equipment, Instruments & Components) | | | 71 | |
| | |
| | 200 | | | Kikkoman Corp. (Food Products) | | | 9 | |
| | |
| | 200 | | | Kintetsu Corp. (Road & Rail) | | | 10 | |
| | |
| | 1,100 | | | Kirin Holdings Co. Ltd. (Beverages) | | | 23 | |
| | |
| | 100 | | | Kobayashi Pharmaceutical Co. Ltd. (Personal Products) | | | 7 | |
| | |
| | 400 | | | Kobe Steel Ltd. (Metals & Mining) | | | 3 | |
| | |
| | 134 | | | Koito Manufacturing Co. Ltd. (Auto Components) | | | 7 | |
| | |
| | 1,200 | | | Komatsu Ltd. (Machinery) | | | 29 | |
| | |
| | 100 | | | Konami Corp. (Entertainment) | | | 5 | |
| | |
| | 600 | | | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | | | 6 | |
| | |
| | 43 | | | Kose Corp. (Personal Products) | | | 7 | |
| | |
| | 1,300 | | | Kubota Corp. (Machinery) | | | 22 | |
| | |
| | 400 | | | Kuraray Co. Ltd. (Chemicals) | | | 5 | |
| | |
| | 100 | | | Kurita Water Industries Ltd. (Machinery) | | | 2 | |
| | |
| | 400 | | | Kyocera Corp. (Electronic Equipment, Instruments & Components) | | | 26 | |
| | |
| | 300 | | | Kyowa Hakko Kirin Co. Ltd. (Pharmaceuticals) | | | 5 | |
| | |
| | 500 | | | Kyushu Electric Power Co., Inc. (Electric Utilities) | | | 5 | |
| | |
| | 200 | | | Kyushu Railway Co. (Road & Rail) | | | 6 | |
| | |
| | 100 | | | Lawson, Inc. (Food & Staples Retailing) | | | 5 | |
| | |
| | 100 | | | LINE Corp. (Interactive Media & Services) (a) | | | 3 | |
| | |
| | 300 | | | Lion Corp. (Household Products) | | | 6 | |
| | |
| | 500 | | | M3, Inc. (Health Care Technology) | | | 9 | |
| | |
| | 300 | | | Makita Corp. (Machinery) | | | 10 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 2,000 | | | Marubeni Corp. (Trading Companies & Distributors) | | $ | 13 | |
| | |
| | 300 | | | Marui Group Co. Ltd. (Multiline Retail) | | | 6 | |
| | |
| | 100 | | | Maruichi Steel Tube Ltd. (Metals & Mining) | | | 3 | |
| | |
| | 700 | | | Mazda Motor Corp. (Automobiles) | | | 7 | |
| | |
| | 100 | | | McDonald’s Holdings Co. (Japan) Ltd. (Hotels, Restaurants & Leisure) | | | 4 | |
| | |
| | 1,100 | | | Mebuki Financial Group, Inc. (Banks) | | | 3 | |
| | |
| | 300 | | | Medipal Holdings Corp. (Health Care Providers & Services) | | | 6 | |
| | |
| | 100 | | | Mercari, Inc. (Internet & Direct Marketing Retail) (a) | | | 3 | |
| | |
| | 500 | | | Minebea Co. Ltd. (Machinery) | | | 9 | |
| | |
| | 400 | | | MISUMI Group, Inc. (Machinery) | | | 10 | |
| | |
| | 1,700 | | | Mitsubishi Corp. (Trading Companies & Distributors) | | | 45 | |
| | |
| | 2,300 | | | Mitsubishi Electric Corp. (Electrical Equipment) | | | 30 | |
| | |
| | 1,500 | | | Mitsubishi Estate Co. Ltd. (Real Estate Management & Development) | | | 28 | |
| | |
| | 200 | | | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | | | 3 | |
| | |
| | 100 | | | Mitsubishi Materials Corp. (Metals & Mining) | | | 3 | |
| | |
| | 800 | | | Mitsubishi Motors Corp. (Automobiles) | | | 4 | |
| | |
| | 15,779 | | | Mitsubishi UFJ Financial Group, Inc. (Banks) | | | 76 | |
| | |
| | 500 | | | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | | | 3 | |
| | |
| | 200 | | | Mitsui Chemicals, Inc. (Chemicals) | | | 5 | |
| | |
| | 1,200 | | | Mitsui Fudosan Co. Ltd. (Real Estate Management & Development) | | | 30 | |
| | |
| | 200 | | | Mitsui O.S.K. Lines Ltd. (Marine) | | | 5 | |
| | |
| | 31,200 | | | Mizuho Financial Group, Inc. (Banks) | | | 45 | |
| | |
| | 200 | | | MonotaRO Co. Ltd. (Trading Companies & Distributors) | | | 5 | |
| | |
| | 630 | | | MS&AD Insurance Group Holdings, Inc. (Insurance) | | | 20 | |
| | |
| | 737 | | | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 33 | |
| | |
| | 200 | | | Nabtesco Corp. (Machinery) | | | 6 | |
| | |
| | 200 | | | Nagoya Railroad Co. Ltd. (Road & Rail) | | | 6 | |
| | |
| | 300 | | | Namco Bandai Holdings, Inc. (Leisure Products) | | | 15 | |
| | |
| | 330 | | | NEC Corp. (Technology Hardware, Storage & Peripherals) | | | 13 | |
| | |
| | 600 | | | Nexon Co. Ltd. (Entertainment) (a) | | | 9 | |
| | |
| | 300 | | | NGK Insulators Ltd. (Machinery) | | | 4 | |
| | |
| | 200 | | | NGK Spark Plug Co. Ltd. (Auto Components) | | | 4 | |
| | |
| | 100 | | | NH Foods Ltd. (Food Products) | | | 4 | |
| | |
| | 300 | | | Nidec Corp. (Electrical Equipment) | | | 42 | |
| | |
| | 400 | | | Nikon Corp. (Household Durables) | | | 6 | |
| | |
| | 145 | | | Nintendo Co. Ltd. (Entertainment) | | | 53 | |
| | |
| | 2 | | | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 100 | | | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 3 | |
| | |
| | 100 | | | Nippon Express Co. Ltd. (Road & Rail) | | | 5 | |
| | |
| | 200 | | | Nippon Paint Holdings Co. Ltd. (Chemicals) | | | 8 | |
| | |
| | 3 | | | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) (b) | | | 7 | |
| | |
| | 1,000 | | | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) (b) | | | 17 | |
See accompanying notes to financial statements.
153
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 831 | | | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | | $ | 39 | |
| | |
| | 200 | | | Nippon Yusen Kabushiki Kaisha (Marine) | | | 3 | |
| | |
| | 2,900 | | | Nissan Motor Co. Ltd. (Automobiles) | | | 21 | |
| | |
| | 254 | | | Nisshin Seifun Group, Inc. (Food Products) | | | 6 | |
| | |
| | 100 | | | Nissin Foods Holdings Co. Ltd. (Food Products) | | | 6 | |
| | |
| | 100 | | | Nitori Holdings Co. Ltd. (Specialty Retail) | | | 13 | |
| | |
| | 200 | | | Nitto Denko Corp. (Chemicals) | | | 10 | |
| | |
| | 4,200 | | | Nomura Holdings, Inc. (Capital Markets) | | | 16 | |
| | |
| | 200 | | | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | | | 4 | |
| | |
| | 5 | | | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) (b) | | | 8 | |
| | |
| | 435 | | | Nomura Research Institute Ltd. (IT Services) | | | 7 | |
| | |
| | 500 | | | NSK Ltd. (Machinery) | | | 4 | |
| | |
| | 800 | | | NTT Data Corp. (IT Services) | | | 11 | |
| | |
| | 1,766 | | | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | | | 41 | |
| | |
| | 1,100 | | | Obayashi Corp. (Construction & Engineering) | | | 11 | |
| | |
| | 100 | | | OBIC Co. Ltd. (IT Services) | | | 11 | |
| | |
| | 400 | | | Odakyu Electric Railway Co. Ltd. (Road & Rail) | | | 10 | |
| | |
| | 1,100 | | | Oji Paper Co. Ltd. (Paper & Forest Products) | | | 6 | |
| | |
| | 1,500 | | | Olympus Corp. (Health Care Equipment & Supplies) | | | 17 | |
| | |
| | 247 | | | OMRON Corp. (Electronic Equipment, Instruments & Components) | | | 13 | |
| | |
| | 500 | | | Ono Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 9 | |
| | |
| | 49 | | | Oracle Corp. Japan (Software) | | | 4 | |
| | |
| | 300 | | | Oriental Land Co. Ltd. (Hotels, Restaurants & Leisure) | | | 38 | |
| | |
| | 1,700 | | | ORIX Corp. (Diversified Financial Services) | | | 25 | |
| | |
| | 500 | | | Osaka Gas Co. Ltd. (Gas Utilities) | | | 9 | |
| | |
| | 134 | | | OTSUKA Corp. (IT Services) | | | 5 | |
| | |
| | 500 | | | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | | | 17 | |
| | |
| | 2,800 | | | Panasonic Corp. (Household Durables) | | | 23 | |
| | |
| | 200 | | | Park24 Co. Ltd. (Commercial Services & Supplies) | | | 5 | |
| | |
| | 100 | | | PeptiDream, Inc. (Biotechnology) (a) | | | 5 | |
| | |
| | 200 | | | Persol Holdings Co. Ltd. (Professional Services) | | | 5 | |
| | |
| | 148 | | | Pigeon Corp. (Household Products) | | | 6 | |
| | |
| | 100 | | | Pola Orbis Holdings, Inc. (Personal Products) | | | 3 | |
| | |
| | 1,100 | | | Rakuten, Inc. (Internet & Direct Marketing Retail) | | | 12 | |
| | |
| | 1,500 | | | Recruit Holdings Co. Ltd. (Professional Services) (b) | | | 50 | |
| | |
| | 900 | | | Renesas Electronics Corp. (Semiconductors & Semiconductor Equipment) (a)(b) | | | 4 | |
| | |
| | 2,600 | | | Resona Holdings, Inc. (Banks) | | | 11 | |
| | |
| | 800 | | | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 8 | |
| | |
| | 43 | | | Rinnai Corp. (Household Durables) | | | 3 | |
| | |
| | 121 | | | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 8 | |
| | |
| | 31 | | | Ryohin Keikaku Co. (Multiline Retail) | | | 6 | |
| | |
| | 100 | | | Sankyo Co. Ltd. (Leisure Products) | | | 4 | |
| | |
| | 500 | | | Santen Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 8 | |
| | |
| | 300 | | | SBI Holdings, Inc. (Capital Markets) | | | 7 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 300 | | | SECOM Co. Ltd. (Commercial Services & Supplies) | | $ | 25 | |
| | |
| | 200 | | | Sega Sammy Holdings, Inc. (Leisure Products) | | | 2 | |
| | |
| | 300 | | | Seibu Holdings, Inc. (Industrial Conglomerates) | | | 5 | |
| | |
| | 400 | | | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | | | 6 | |
| | |
| | 500 | | | Sekisui Chemical Co. Ltd. (Household Durables) | | | 8 | |
| | |
| | 800 | | | Sekisui House Ltd. (Household Durables) | | | 13 | |
| | |
| | 967 | | | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | | | 33 | |
| | |
| | 800 | | | Seven Bank Ltd. (Banks) | | | 2 | |
| | |
| | 200 | | | SG Holdings Co. Ltd. (Air Freight & Logistics) | | | 6 | |
| | |
| | 300 | | | Sharp Corp. (Household Durables) (b) | | | 3 | |
| | |
| | 28 | | | Shimamura Co. Ltd. (Specialty Retail) | | | 2 | |
| | |
| | 100 | | | Shimano, Inc. (Leisure Products) | | | 14 | |
| | |
| | 700 | | | Shimizu Corp. (Construction & Engineering) | | | 6 | |
| | |
| | 500 | | | Shin-Etsu Chemical Co. Ltd. (Chemicals) | | | 47 | |
| | |
| | 200 | | | Shinsei Bank Ltd. (Banks) | | | 3 | |
| | |
| | 500 | | | Shiseido Co. Ltd. (Personal Products) | | | 38 | |
| | |
| | 200 | | | Showa Denko KK (Chemicals) | | | 6 | |
| | |
| | 100 | | | SMC Corp. (Machinery) | | | 37 | |
| | |
| | 2,100 | | | Softbank Corp. (Wireless Telecommunication Services) | | | 27 | |
| | |
| | 2,118 | | | SoftBank Group Corp. (Wireless Telecommunication Services) | | | 102 | |
| | |
| | 100 | | | Sohgo Security Services Co. Ltd. (Commercial Services & Supplies) | | | 5 | |
| | |
| | 400 | | | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | | | 15 | |
| | |
| | 1,700 | | | Sony Corp. (Household Durables) | | | 90 | |
| | |
| | 200 | | | Sony Financial Holdings, Inc. (Insurance) | | | 5 | |
| | |
| | 200 | | | Stanley Electric Co. Ltd. (Auto Components) | | | 5 | |
| | |
| | 300 | | | Start Today Co. Ltd. (Internet & Direct Marketing Retail) | | | 6 | |
| | |
| | 300 | | | Sumco Corp. (Semiconductors & Semiconductor Equipment) (b) | | | 4 | |
| | |
| | 1,500 | | | Sumitomo Corp. (Trading Companies & Distributors) | | | 23 | |
| | |
| | 1,000 | | | Sumitomo Electric Industries Ltd. (Auto Components) | | | 13 | |
| | |
| | 142 | | | Sumitomo Heavy Industries Ltd. (Machinery) | | | 5 | |
| | |
| | 300 | | | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | | | 9 | |
| | |
| | 1,700 | | | Sumitomo Mitsui Financial Group, Inc. (Banks) | | | 60 | |
| | |
| | 523 | | | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | | | 19 | |
| | |
| | 400 | | | Sumitomo Realty & Development Co. Ltd. (Real Estate Management & Development) | | | 14 | |
| | |
| | 200 | | | Sumitomo Rubber Industries Ltd. (Auto Components) | | | 2 | |
| | |
| | 100 | | | Sundrug Co. Ltd. (Food & Staples Retailing) | | | 3 | |
| | |
| | 200 | | | Suntory Beverage & Food Ltd. (Beverages) | | | 9 | |
| | |
| | 100 | | | SUZUKEN Co. Ltd. (Health Care Providers & Services) | | | 6 | |
| | |
| | 500 | | | Suzuki Motor Corp. (Automobiles) | | | 24 | |
| | |
| | 200 | | | Sysmex Corp. (Health Care Equipment & Supplies) | | | 13 | |
| | |
| | 700 | | | T&D Holdings, Inc. (Insurance) | | | 8 | |
| | |
| | 200 | | | Taiheiyo Cement Corp. (Construction Materials) | | | 6 | |
See accompanying notes to financial statements.
154
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 300 | | | Taisei Corp. (Construction & Engineering) | | $ | 11 | |
| | |
| | 46 | | | Taisho Pharmaceutical Holdings Co. Ltd. (Pharmaceuticals) | | | 4 | |
| | |
| | 200 | | | Taiyo Nippon Sanso Corp. (Chemicals) | | | 4 | |
| | |
| | 200 | | | TDK Corp. (Electronic Equipment, Instruments & Components) | | | 16 | |
| | |
| | 200 | | | Teijin Ltd. (Chemicals) | | | 3 | |
| | |
| | 100 | | | The Bank of Kyoto Ltd. (Banks) | | | 4 | |
| | |
| | 700 | | | The Chiba Bank Ltd. (Banks) | | | 3 | |
| | |
| | 400 | | | The Chugoku Electric Power Company, Inc. (Electric Utilities) | | | 5 | |
| | |
| | 1,386 | | | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | | | 21 | |
| | |
| | 900 | | | The Kansai Electric Power Co., Inc. (Electric Utilities) | | | 10 | |
| | |
| | 600 | | | The Shizuoka Bank Ltd. (Banks) | | | 4 | |
| | |
| | 200 | | | The Yokohama Rubber Co. Ltd. (Auto Components) | | | 4 | |
| | |
| | 200 | | | THK Co. Ltd. (Machinery) | | | 5 | |
| | |
| | 245 | | | Tobu Railway Co. Ltd. (Road & Rail) | | | 7 | |
| | |
| | 145 | | | Toho Co. Ltd. (Entertainment) | | | 6 | |
| | |
| | 100 | | | Toho Gas Co. Ltd. (Gas Utilities) | | | 4 | |
| | |
| | 500 | | | Tohoku Electric Power Co., Inc. (Electric Utilities) | | | 5 | |
| | |
| | 831 | | | Tokio Marine Holdings, Inc. (Insurance) | | | 41 | |
| | |
| | 1,900 | | | Tokyo Electric Power Co., Inc. (Electric Utilities) (a) | | | 10 | |
| | |
| | 200 | | | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | | | 28 | |
| | |
| | 800 | | | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) (b) | | | 4 | |
| | |
| | 500 | | | Tokyo Gas Co. Ltd. (Gas Utilities) | | | 11 | |
| | |
| | 600 | | | Tokyu Corp. (Road & Rail) | | | 11 | |
| | |
| | 300 | | | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | | | 5 | |
| | |
| | 1,700 | | | Toray Industries, Inc. (Chemicals) | | | 13 | |
| | |
| | 700 | | | Toshiba Corp. (Industrial Conglomerates) | | | 22 | |
| | |
| | 300 | | | Tosoh Corp. (Chemicals) | | | 4 | |
| | |
| | 200 | | | TOTO Ltd. (Building Products) | | | 8 | |
| | |
| | 200 | | | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | | | 4 | |
| | |
| | 100 | | | Toyo Suisan Kaisha Ltd. (Food Products) | | | 4 | |
| | |
| | 100 | | | Toyoda Gosei Co. Ltd. (Auto Components) | | | 2 | |
| | |
| | 200 | | | Toyota Industries Corp. (Auto Components) | | | 11 | |
| | |
| | 2,930 | | | Toyota Motor Corp. (Automobiles) | | | 182 | |
| | |
| | 312 | | | Toyota Tsusho Corp. (Trading Companies & Distributors) | | | 9 | |
| | |
| | 200 | | | Trend Micro, Inc. (Software) | | | 9 | |
| | |
| | 47 | | | Tsuruha Holdings, Inc. (Food & Staples Retailing) | | | 4 | |
| | |
| | 500 | | | Unicharm Corp. (Household Products) | | | 15 | |
| | |
| | 4 | | | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | | | 7 | |
| | |
| | 300 | | | USS Co. Ltd. (Specialty Retail) | | | 6 | |
| | |
| | 100 | | | Welcia Holdings Co. Ltd. (Food & Staples Retailing) | | | 4 | |
| | |
| | 3,600 | | | Yahoo Japan Corp. (Interactive Media & Services) | | | 10 | |
| | |
| | 200 | | | Yakult Honsha Co. Ltd. (Food Products) (b) | | | 12 | |
| | |
| | 800 | | | Yamada Denki Co. Ltd. (Specialty Retail) | | | 4 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 200 | | | Yamaha Corp. (Leisure Products) | | $ | 10 | |
| | |
| | 400 | | | Yamaha Motor Co. Ltd. (Automobiles) | | | 7 | |
| | |
| | 400 | | | Yamato Holdings Co. Ltd. (Air Freight & Logistics) | | | 8 | |
| | |
| | 200 | | | Yamazaki Baking Co. Ltd. (Food Products) | | | 3 | |
| | |
| | 300 | | | Yaskawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 10 | |
| | |
| | 300 | | | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 6 | |
| | | | | | | | |
| | | | | | | 3,956 | |
| | | | | | | | |
| |
| | | | Jersey — 0.14% | |
| | |
| | 14,378 | | | Glencore International PLC (Metals & Mining) (b) | | | 49 | |
| | |
| | 1,636 | | | WPP PLC (Media) | | | 21 | |
| | | | | | | | |
| | | | | | | 70 | |
| | | | | | | | |
| |
| | | | Liberia — 0.05% | |
| | |
| | 224 | | | Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure) | | | 27 | |
| | | | | | | | |
| |
| | | | Luxembourg — 0.07% | |
| | |
| | 837 | | | ArcelorMittal (Metals & Mining) | | | 14 | |
| | |
| | 84 | | | Millicom International Cellular SA (Wireless Telecommunication Services) | | | 5 | |
| | |
| | 49 | | | RTL Group (Media) | | | 3 | |
| | |
| | 459 | | | SES – FDR, Class – A (Media) (b) | | | 7 | |
| | |
| | 595 | | | Tenaris SA (Energy Equipment & Services) | | | 8 | |
| | | | | | | | |
| | | | | | | 37 | |
| | | | | | | | |
| |
| | | | Netherlands — 1.59% | |
| | |
| | 533 | | | ABN AMRO Group N.V. (Banks) (b) | | | 11 | |
| | |
| | 13 | | | Adyen N.V. (IT Services) (a)(b) | | | 10 | |
| | |
| | 2,243 | | | AEGON N.V. (Insurance) | | | 11 | |
| | |
| | 166 | | | Aercap Holdings N.V. (Trading Companies & Distributors) (a) | | | 9 | |
| | |
| | 747 | | | Airbus Group N.V. (Aerospace & Defense) | | | 106 | |
| | |
| | 287 | | | Akzo Nobel N.V. (Chemicals) | | | 27 | |
| | |
| | 546 | | | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) (b) | | | 113 | |
| | |
| | 1,302 | | | CNH Industrial N.V. (Machinery) | | | 13 | |
| | |
| | 173 | | | Exor N.V. (Diversified Financial Services) | | | 12 | |
| | |
| | 145 | | | Heineken Holding N.V., Class – A (Beverages) | | | 15 | |
| | |
| | 326 | | | Heineken N.V. (Beverages) | | | 37 | |
| | |
| | 5,028 | | | ING Groep N.V. (Banks) | | | 59 | |
| | |
| | 4,498 | | | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | | | 14 | |
| | |
| | 1,614 | | | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | | | 36 | |
| | |
| | 228 | | | Koninklijke DSM N.V. (Chemicals) | | | 28 | |
| | |
| | 1,241 | | | Koninklijke Philips Electronics N.V. (Health Care Equipment & Supplies) | | | 54 | |
| | |
| | 88 | | | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | | | 4 | |
| | |
| | 374 | | | LyondellBasell Industries N.V., Class – A (Chemicals) | | | 32 | |
| | |
| | 391 | | | NN Group N.V. (Insurance) (b) | | | 16 | |
| | |
| | 373 | | | NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 36 | |
| | |
| | 291 | | | QIAGEN NV (Life Sciences Tools & Services) (a) | | | 12 | |
| | |
| | 150 | | | Randstad Holding N.V. (Professional Services) | | | 8 | |
See accompanying notes to financial statements.
155
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Netherlands (continued) | |
| | |
| | 860 | | | STMicroelectronics N.V. (Semiconductors & Semiconductor Equipment) | | $ | 15 | |
| | |
| | 1,870 | | | Unilever N.V. (Personal Products) | | | 114 | |
| | |
| | 352 | | | Wolters Kluwer N.V. (Professional Services) | | | 26 | |
| | | | | | | | |
| | | | | | | 818 | |
| | | | | | | | |
| |
| | | | New Zealand — 0.09% | |
| | |
| | 923 | | | A2 Milk Co. Ltd. (Food Products) (a) | | | 10 | |
| | |
| | 1,216 | | | Auckland International Airport Ltd. (Transportation Infrastructure) | | | 8 | |
| | |
| | 723 | | | Fisher & Paykel Healthcare COR (Health Care Equipment & Supplies) | | | 8 | |
| | |
| | 1,074 | | | Fletcher Building Ltd. (Construction Materials) | | | 3 | |
| | |
| | 1,613 | | | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | | | 5 | |
| | |
| | 503 | | | Ryman Healthcare Ltd. (Health Care Providers & Services) | | | 4 | |
| | |
| | 2,312 | | | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | | | 6 | |
| | | | | | | | |
| | | | | | | 44 | |
| | | | | | | | |
| |
| | | | Norway — 0.24% | |
| | |
| | 136 | | | Aker BP ASA (Oil, Gas & Consumable Fuels) | | | 4 | |
| | |
| | 1,212 | | | DNB ASA (Banks) | | | 23 | |
| | |
| | 1,401 | | | Equinor ASA (Oil, Gas & Consumable Fuels) | | | 28 | |
| | |
| | 252 | | | Gjensidige Forsikring ASA (Insurance) | | | 5 | |
| | |
| | 552 | | | Marine Harvest ASA (Food Products) | | | 12 | |
| | |
| | 1,694 | | | Norsk Hydro ASA (Metals & Mining) | | | 6 | |
| | |
| | 962 | | | Orkla ASA (Food Products) | | | 9 | |
| | |
| | 124 | | | Schibsted ASA (Media) (b) | | | 3 | |
| | |
| | 1,048 | | | Telenor ASA (Diversified Telecommunication Services) | | | 22 | |
| | |
| | 223 | | | Yara International ASA (Chemicals) | | | 11 | |
| | | | | | | | |
| | | | | | | 123 | |
| | | | | | | | |
| |
| | | | Panama — 0.05% | |
| | |
| | 531 | | | Carnival Corp., Class – A (Hotels, Restaurants & Leisure) | | | 25 | |
| | | | | | | | |
| |
| | | | Papua New Guinea — 0.02% | |
| | |
| | 1,727 | | | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | | | 9 | |
| | | | | | | | |
| |
| | | | Portugal — 0.05% | |
| | |
| | 3,369 | | | EDP – Energias de Portugal SA (Electric Utilities) | | | 13 | |
| | |
| | 631 | | | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) (b) | | | 10 | |
| | |
| | 317 | | | Jeronimo Martins, SGPS, SA (Food & Staples Retailing) | | | 5 | |
| | | | | | | | |
| | | | | | | 28 | |
| | | | | | | | |
| |
| | | | Singapore — 0.46% | |
| | |
| | 3,100 | | | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 8 | |
| | |
| | 3,300 | | | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | | | 5 | |
| | |
| | 3,200 | | | Capitaland Ltd. (Real Estate Management & Development) | | | 9 | |
| | |
| | 3,300 | | | CapitaMall Trust (Equity Real Estate Investment Trusts) | | | 6 | |
| | |
| | 600 | | | City Developments Ltd. (Real Estate Management & Development) | | | 4 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Singapore (continued) | |
| | |
| | 2,700 | | | ComfortDelGro Corp. Ltd. (Road & Rail) | | $ | 5 | |
| | |
| | 2,300 | | | DBS Group Holdings Ltd. (Banks) | | | 44 | |
| | |
| | 657 | | | Flextronics International Ltd. (Electronic Equipment, Instruments & Components) (a) | | | 6 | |
| | |
| | 7,600 | | | Genting Singapore PLC (Hotels, Restaurants & Leisure) | | | 5 | |
| | |
| | 8,233 | | | Golden Agri-Resources Ltd. (Food Products) | | | 2 | |
| | |
| | 100 | | | Jardine Cycle & Carriage Ltd. (Distributors) | | | 3 | |
| | |
| | 1,800 | | | Keppel Corp. Ltd. (Industrial Conglomerates) | | | 9 | |
| | |
| | 4,000 | | | Oversea-Chinese Banking Corp. Ltd. (Banks) | | | 34 | |
| | |
| | 800 | | | SATS Ltd. (Transportation Infrastructure) (b) | | | 3 | |
| | |
| | 1,200 | | | SembCorp Industries Ltd. (Industrial Conglomerates) | | | 2 | |
| | |
| | 700 | | | Singapore Airlines Ltd. (Airlines) | | | 5 | |
| | |
| | 1,000 | | | Singapore Exchange Ltd. (Capital Markets) | | | 6 | |
| | |
| | 2,000 | | | Singapore Press Holdings Ltd. (Media) | | | 4 | |
| | |
| | 10,300 | | | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | | | 27 | |
| | |
| | 2,400 | | | Suntec REIT (Equity Real Estate Investment Trusts) | | | 3 | |
| | |
| | 1,600 | | | United Overseas Bank Ltd. (Banks) | | | 31 | |
| | |
| | 600 | | | United Overseas Land Ltd. (Real Estate Management & Development) | | | 3 | |
| | |
| | 300 | | | Venture Corp. Ltd. (Electronic Equipment, Instruments & Components) | | | 4 | |
| | |
| | 2,400 | | | Wilmar International Ltd. (Food Products) | | | 6 | |
| | |
| | 3,000 | | | Yangzijiang Shipbuilding Holdings Ltd. (Machinery) | | | 3 | |
| | | | | | | | |
| | | | | | | 237 | |
| | | | | | | | |
| |
| | | | Spain — 1.03% | |
| | |
| | 317 | | | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) | | | 13 | |
| | |
| | 85 | | | Aena SME SA (Transportation Infrastructure) (b) | | | 17 | |
| | |
| | 567 | | | Amadeus IT Holding SA, A Shares (IT Services) | | | 45 | |
| | |
| | 8,617 | | | Banco Bilbao Vizcaya Argentaria SA (Banks) | | | 48 | |
| | |
| | 7,085 | | | Banco de Sabadell SA (Banks) | | | 7 | |
| | |
| | 20,827 | | | Banco Santander SA (Banks) (b) | | | 97 | |
| | |
| | 1,554 | | | Bankia SA (Banks) (b) | | | 4 | |
| | |
| | 849 | | | Bankinter SA (Banks) | | | 6 | |
| | |
| | 4,519 | | | CaixaBank SA (Banks) | | | 13 | |
| | |
| | 245 | | | Cellnex Telecom SA (Diversified Telecommunication Services) (b) | | | 9 | |
| | |
| | 1,358 | | | Corporacion Mapfre (Insurance) | | | 4 | |
| | |
| | 286 | | | Enagas (Oil, Gas & Consumable Fuels) | | | 8 | |
| | |
| | 400 | | | Endesa (Electric Utilities) | | | 10 | |
| | |
| | 613 | | | Ferrovial SA (Construction & Engineering) (b) | | | 15 | |
| | |
| | 300 | | | Gamesa Corporacion Tecnologica SA (Electrical Equipment) | | | 5 | |
| | |
| | 391 | | | Gas Natural SDG SA (Gas Utilities) | | | 11 | |
| | |
| | 376 | | | Grifols SA (Biotechnology) | | | 11 | |
| | |
| | 7,744 | | | Iberdrola SA (Electric Utilities) | | | 78 | |
| | |
| | 1,373 | | | Industria de Diseno Textil SA (Specialty Retail) | | | 41 | |
| | |
| | 545 | | | Red Electrica Corp. (Electric Utilities) | | | 11 | |
| | |
| | 1,887 | | | Repsol SA (Oil, Gas & Consumable Fuels) | | | 29 | |
| | |
| | 6,007 | | | Telefonica SA (Diversified Telecommunication Services) | | | 49 | |
| | | | | | | | |
| | | | | | | 531 | |
| | | | | | | | |
See accompanying notes to financial statements.
156
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Sweden — 0.85% | |
| | |
| | 396 | | | Alfa Laval AB (Machinery) | | $ | 9 | |
| | |
| | 1,262 | | | Assa Abloy AB, B Shares (Building Products) | | | 28 | |
| | |
| | 845 | | | Atlas Copco AB, A Shares (Machinery) | | | 27 | |
| | |
| | 491 | | | Atlas Copco AB, Class – B (Machinery) | | | 14 | |
| | |
| | 344 | | | Boliden AB (Metals & Mining) | | | 9 | |
| | |
| | 284 | | | Electrolux AB, B Shares (Household Durables) | | | 7 | |
| | |
| | 830 | | | Epiroc AB, Class – A (Machinery) | | | 9 | |
| | |
| | 491 | | | Epiroc AB, Class – B (Machinery) | | | 5 | |
| | |
| | 764 | | | Essity Aktiebolag, Class – B (Household Products) | | | 24 | |
| | |
| | 1,090 | | | Hennes & Mauritz AB, B Shares (Specialty Retail) | | | 19 | |
| | |
| | 328 | | | Hexagon AB (Electronic Equipment, Instruments & Components) | | | 18 | |
| | |
| | 526 | | | Husqvarna AB (Household Durables) | | | 5 | |
| | |
| | 114 | | | ICA Gruppen AB (Food & Staples Retailing) | | | 5 | |
| | |
| | 210 | | | Industrivarden AB, C Shares (Diversified Financial Services) | | | 5 | |
| | |
| | 573 | | | Investor AB, B Shares (Diversified Financial Services) | | | 27 | |
| | |
| | 305 | | | Kinnevik AB (Diversified Financial Services) | | | 8 | |
| | |
| | 95 | | | L E Lundbergforetagen AB (Diversified Financial Services) | | | 4 | |
| | |
| | 320 | | | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) | | | 10 | |
| | |
| | 1,421 | | | Sandvik AB (Machinery) | | | 26 | |
| | |
| | 394 | | | Securitas AB, B Shares (Commercial Services & Supplies) | | | 7 | |
| | |
| | 2,050 | | | Skandinaviska Enskilda Banken AB, Class – A (Banks) | | | 19 | |
| | |
| | 567 | | | Skanska AB, B Shares (Construction & Engineering) | | | 10 | |
| | |
| | 622 | | | SKF AB, B Shares (Machinery) | | | 11 | |
| | |
| | 1,923 | | | Svenska Handelsbanken AB, A Shares (Banks) | | | 19 | |
| | |
| | 1,140 | | | Swedbank AB, A Shares (Banks) | | | 17 | |
| | |
| | 629 | | | Tele2 AB, B Shares (Wireless Telecommunication Services) | | | 9 | |
| | |
| | 3,869 | | | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | | | 37 | |
| | |
| | 3,939 | | | TeliaSonera AB (Diversified Telecommunication Services) (b) | | | 17 | |
| | |
| | 1,871 | | | Volvo AB, B Shares (Machinery) | | | 31 | |
| | | | | | | | |
| | | | | | | 436 | |
| | | | | | | | |
| |
| | | | Switzerland — 2.45% | |
| | |
| | 2,382 | | | ABB Ltd., Registered Shares (Electrical Equipment) | | | 48 | |
| | |
| | 200 | | | Adecco SA, Registered Shares (Professional Services) | | | 12 | |
| | |
| | 546 | | | Alcon, Inc. (Health Care Equipment & Supplies) (a) | | | 34 | |
| | |
| | 62 | | | Baloise Holding AG, Registered Shares (Insurance) | | | 11 | |
| | |
| | 3 | | | Barry Callebaut AG (Food Products) (b) | | | 6 | |
| | |
| | 1 | | | Chocoladefabriken Lindt & Sprungil AG (Food Products) | | | 7 | |
| | |
| | 592 | | | Chubb Ltd. (Insurance) | | | 87 | |
| | |
| | 251 | | | Clariant AG (Chemicals) | | | 5 | |
| | |
| | 253 | | | Coca-Cola HBC AG (Beverages) | | | 10 | |
| | |
| | 675 | | | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | | | 57 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Switzerland (continued) | |
| | |
| | 3,218 | | | Credit Suisse Group AG (Capital Markets) | | $ | 39 | |
| | |
| | 54 | | | Dufry AG (Specialty Retail) | | | 5 | |
| | |
| | 10 | | | EMS-Chemie Holding AG, Registered Shares (Chemicals) | | | 6 | |
| | |
| | 167 | | | Garmin Ltd. (Household Durables) | | | 13 | |
| | |
| | 46 | | | Geberit AG (Building Products) | | | 22 | |
| | |
| | 12 | | | Givaudan SA (Chemicals) | | | 35 | |
| | |
| | 282 | | | Julius Baer Group Ltd. (Capital Markets) | | | 13 | |
| | |
| | 68 | | | Kuehne & Nagel International Ltd. (Marine) | | | 10 | |
| | |
| | 611 | | | LafargeHolcim Ltd., Registered Shares (Construction Materials) (b) | | | 30 | |
| | |
| | 3,948 | | | Nestle SA (Food Products) | | | 409 | |
| | |
| | 48 | | | Pargesa Holding SA (Diversified Financial Services) | | | 4 | |
| | |
| | 24 | | | Partners Group Holding AG (Capital Markets) | | | 19 | |
| | |
| | 51 | | | Schindler Holding AG (Machinery) | | | 11 | |
| | |
| | 26 | | | Schindler Holding AG (Machinery) | | | 6 | |
| | |
| | 7 | | | SGS SA, Registered Shares (Professional Services) | | | 18 | |
| | |
| | 160 | | | Sika AG, Registered Shares (Chemicals) | | | 27 | |
| | |
| | 70 | | | Sonova Holding AG, Registered Shares (Health Care Equipment & Supplies) (b) | | | 16 | |
| | |
| | 13 | | | Straumann Holding AG (Health Care Equipment & Supplies) | | | 11 | |
| | |
| | 43 | | | Swiss Life Holding AG (Insurance) | | | 21 | |
| | |
| | 95 | | | Swiss Prime Site AG (Real Estate Management & Development) | | | 8 | |
| | |
| | 394 | | | Swiss Re AG (Insurance) | | | 40 | |
| | |
| | 32 | | | Swisscom AG (Diversified Telecommunication Services) | | | 16 | |
| | |
| | 400 | | | TE Connectivity Ltd. (Electronic Equipment, Instruments & Components) | | | 38 | |
| | |
| | 81 | | | Temenos Group AG (Software) | | | 15 | |
| | |
| | 71 | | | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | | | 4 | |
| | |
| | 37 | | | The Swatch Group AG, B Shares (Textiles, Apparel & Luxury Goods) | | | 11 | |
| | |
| | 4,981 | | | UBS Group AG (Capital Markets) | | | 58 | |
| | |
| | 57 | | | Vifor Pharma AG (Pharmaceuticals) | | | 8 | |
| | |
| | 195 | | | Zurich Financial Services AG (Insurance) | | | 68 | |
| | | | | | | | |
| | | | | | | 1,258 | |
| | | | | | | | |
| |
| | | | United Arab Emirates — 0.01% | |
| | |
| | 118 | | | NMC Health PLC (Health Care Providers & Services) (b) | | | 4 | |
| | | | | | | | |
| |
| | | | United Kingdom — 5.13% | |
| | |
| | 1,422 | | | 3i Group PLC (Capital Markets) | | | 20 | |
| | |
| | 238 | | | Admiral Group PLC (Insurance) | | | 7 | |
| | |
| | 2,044 | | | Amcor PLC (Containers & Packaging) (a) | | | 23 | |
| | |
| | 1,435 | | | Anglo American PLC (Metals & Mining) | | | 41 | |
| | |
| | 496 | | | Antofagasta PLC (Metals & Mining) | | | 6 | |
| | |
| | 310 | | | Aon PLC (Insurance) | | | 60 | |
| | |
| | 327 | | | Aptiv PLC (Auto Components) | | | 26 | |
| | |
| | 596 | | | Ashtead Group PLC (Trading Companies & Distributors) | | | 17 | |
| | |
| | 448 | | | Associated British Foods PLC (Food Products) | | | 14 | |
| | |
| | 1,177 | | | Auto Trader Group PLC (Interactive Media & Services) (b) | | | 8 | |
See accompanying notes to financial statements.
157
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 5,048 | | | Aviva PLC (Insurance) | | $ | 27 | |
| | |
| | 22,154 | | | Barclays PLC (Banks) | | | 42 | |
| | |
| | 1,625 | | | Barratt Developments PLC (Household Durables) | | | 12 | |
| | |
| | 25,988 | | | BP PLC (Oil, Gas & Consumable Fuels) | | | 181 | |
| | |
| | 1,140 | | | British Land Co. PLC (Equity Real Estate Investment Trusts) | | | 8 | |
| | |
| | 10,621 | | | BT Group PLC (Diversified Telecommunication Services) | | | 27 | |
| | |
| | 424 | | | Bunzl PLC (Trading Companies & Distributors) | | | 11 | |
| | |
| | 518 | | | Burberry Group PLC (Textiles, Apparel & Luxury Goods) (b) | | | 12 | |
| | |
| | 200 | | | Capri Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | | | 7 | |
| | |
| | 207 | | | Carnival PLC (Hotels, Restaurants & Leisure) | | | 9 | |
| | |
| | 7,174 | | | Centrica PLC (Multi-Utilities) (b) | | | 8 | |
| | |
| | 299 | | | Coca-Cola European Partners PLC (Beverages) | | | 17 | |
| | |
| | 2,050 | | | Compass Group PLC (Hotels, Restaurants & Leisure) | | | 50 | |
| | |
| | 162 | | | Croda International PLC (Chemicals) | | | 11 | |
| | |
| | 3,102 | | | Diageo PLC (Beverages) | | | 133 | |
| | |
| | 1,731 | | | Direct Line Insurance Group PLC (Insurance) | | | 7 | |
| | |
| | 408 | | | easyJet PLC (Airlines) | | | 5 | |
| | |
| | 636 | | | Evraz PLC (Metals & Mining) | | | 5 | |
| | |
| | 329 | | | Ferguson PLC (Trading Companies & Distributors) | | | 24 | |
| | |
| | 278 | | | Fresnillo PLC (Metals & Mining) | | | 3 | |
| | |
| | 1,954 | | | G4S PLC (Commercial Services & Supplies) | | | 5 | |
| | |
| | 478 | | | Halma PLC (Electronic Equipment, Instruments & Components) | | | 12 | |
| | |
| | 359 | | | Hargreaves Lansdown PLC (Capital Markets) | | | 9 | |
| | |
| | 25,856 | | | HSBC Holdings PLC (Banks) | | | 216 | |
| | |
| | 1,577 | | | Informa PLC (Media) | | | 17 | |
| | |
| | 216 | | | Intercontinental Hotels Group PLC (Hotels, Restaurants & Leisure) | | | 14 | |
| | |
| | 203 | | | Intertek Group PLC (Professional Services) | | | 14 | |
| | |
| | 859 | | | Investec PLC (Capital Markets) | | | 6 | |
| | |
| | 4,562 | | | ITV PLC (Media) | | | 6 | |
| | |
| | 2,219 | | | J Sainsbury PLC (Food & Staples Retailing) | | | 6 | |
| | |
| | 858 | | | John Wood Group PLC (Energy Equipment & Services) | | | 5 | |
| | |
| | 244 | | | Johnson Matthey PLC (Chemicals) | | | 10 | |
| | |
| | 2,657 | | | Kingfisher PLC (Specialty Retail) | | | 7 | |
| | |
| | 887 | | | Land Securities Group PLC (Equity Real Estate Investment Trusts) | | | 9 | |
| | |
| | 7,506 | | | Legal & General Group PLC (Insurance) | | | 26 | |
| | |
| | 232 | | | Liberty Global PLC, Class – A (Media) (a) | | | 6 | |
| | |
| | 630 | | | Liberty Global PLC, Class – C (Media) (a) | | | 17 | |
| | |
| | 711 | | | Linde PLC (Chemicals) | | | 143 | |
| | |
| | 91,523 | | | Lloyds Banking Group PLC (Banks) | | | 66 | |
| | |
| | 394 | | | London Stock Exchange Group (Capital Markets) | | | 27 | |
| | |
| | 2,577 | | | Marks & Spencer Group PLC (Multiline Retail) | | | 7 | |
| | |
| | 978 | | | Meggitt PLC (Aerospace & Defense) | | | 7 | |
| | |
| | 6,117 | | | Melrose Industries PLC (Electrical Equipment) | | | 14 | |
| | |
| | 900 | | | Merlin Entertainments PLC (Hotels, Restaurants & Leisure) (b) | | | 5 | |
| | |
| | 432 | | | Micro Focus International PLC (Software) | | | 11 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 462 | | | Mondi PLC (Paper & Forest Products) | | $ | 11 | |
| | |
| | 4,407 | | | National Grid PLC (Multi-Utilities) | | | 47 | |
| | |
| | 173 | | | Next PLC (Multiline Retail) | | | 12 | |
| | |
| | 572 | | | Ocado Group PLC (Internet & Direct Marketing Retail) (a)(b) | | | 8 | |
| | |
| | 984 | | | Pearson PLC (Media) | | | 10 | |
| | |
| | 400 | | | Persimmon PLC (Household Durables) | | | 10 | |
| | |
| | 3,326 | | | Prudential PLC (Insurance) | | | 72 | |
| | |
| | 2,535 | | | RELX PLC (Professional Services) | | | 62 | |
| | |
| | 2,329 | | | Rentokil Initial PLC (Commercial Services & Supplies) | | | 12 | |
| | |
| | 1,462 | | | Rio Tinto PLC (Metals & Mining) | | | 91 | |
| | |
| | 6,069 | | | Royal Bank of Scotland Group PLC (Banks) (b) | | | 17 | |
| | |
| | 5,700 | | | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | | | 185 | |
| | |
| | 4,804 | | | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | | | 157 | |
| | |
| | 1,294 | | | RSA Insurance Group PLC (Insurance) | | | 9 | |
| | |
| | 156 | | | Schroders PLC (Capital Markets) | | | 6 | |
| | |
| | 1,365 | | | SEGRO PLC (Equity Real Estate Investment Trusts) (b) | | | 13 | |
| | |
| | 206 | | | Sensata Technologies Holding PLC (Electrical Equipment) (a) | | | 10 | |
| | |
| | 299 | | | Severn Trent PLC (Water Utilities) | | | 8 | |
| | |
| | 1,102 | | | Smith & Nephew PLC (Health Care Equipment & Supplies) | | | 24 | |
| | |
| | 498 | | | Smiths Group PLC (Industrial Conglomerates) | | | 10 | |
| | |
| | 92 | | | Spirax-Sarco Engineering PLC (Machinery) | | | 11 | |
| | |
| | 1,293 | | | SSE PLC (Electric Utilities) | | | 18 | |
| | |
| | 666 | | | St. James Place PLC (Capital Markets) | | | 9 | |
| | |
| | 3,542 | | | Standard Chartered PLC (Banks) | | | 32 | |
| | |
| | 3,137 | | | Standard Life Aberdeen PLC (Diversified Financial Services) | | | 12 | |
| | |
| | 4,379 | | | Taylor Wimpey PLC (Household Durables) | | | 9 | |
| | |
| | 539 | | | TechnipFMC PLC (Energy Equipment & Services) | | | 14 | |
| | |
| | 12,333 | | | Tesco PLC (Food & Staples Retailing) | | | 35 | |
| | |
| | 209 | | | The Berkeley Group Holdings PLC (Household Durables) | | | 10 | |
| | |
| | 1,367 | | | The Sage Group PLC (Software) | | | 14 | |
| | |
| | 326 | | | The Weir Group PLC (Machinery) (b) | | | 6 | |
| | |
| | 1,424 | | | Unilever PLC (Personal Products) | | | 88 | |
| | |
| | 890 | | | United Utilities Group PLC (Water Utilities) | | | 9 | |
| | |
| | 34,520 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 57 | |
| | |
| | 227 | | | Whitbread PLC (Hotels, Restaurants & Leisure) | | | 13 | |
| | |
| | 2,982 | | | William Morrison Supermarkets PLC (Food & Staples Retailing) | | | 8 | |
| | |
| | 162 | | | Willis Towers Watson PLC (Insurance) | | | 31 | |
| | | | | | | | |
| | | | | | | 2,636 | |
| | | | | | | | |
| |
| | | | United States — 54.75% | |
| | |
| | 743 | | | 3M Co. (Industrial Conglomerates) | | | 129 | |
| | |
| | 179 | | | A.O. Smith Corp. (Building Products) | | | 8 | |
| | |
| | 2,265 | | | Abbott Laboratories (Health Care Equipment & Supplies) | | | 189 | |
| | |
| | 57 | | | Abiomed, Inc. (Health Care Equipment & Supplies) (a) | | | 15 | |
| | |
| | 829 | | | Accenture PLC, Class – A (IT Services) | | | 153 | |
See accompanying notes to financial statements.
158
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 987 | | | Activision Blizzard, Inc. (Entertainment) | | $ | 47 | |
| | |
| | 50 | | | Acuity Brands, Inc. (Electrical Equipment) | | | 7 | |
| | |
| | 629 | | | Adobe Systems, Inc. (Software) (a) | | | 185 | |
| | |
| | 90 | | | Advance Auto Parts, Inc. (Specialty Retail) | | | 14 | |
| | |
| | 1,202 | | | Advanced Micro Devices, Inc. (Semiconductors & Semiconductor Equipment) (a) | | | 37 | |
| | |
| | 66 | | | Affiliated Managers Group, Inc. (Capital Markets) | | | 6 | |
| | |
| | 970 | | | Aflac, Inc. (Insurance) | | | 53 | |
| | |
| | 439 | | | Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 33 | |
| | |
| | 675 | | | AGNC Investment Corp. (Mortgage Real Estate Investment Trusts) | | | 11 | |
| | |
| | 284 | | | Air Products & Chemicals, Inc. (Chemicals) | | | 64 | |
| | |
| | 211 | | | Akamai Technologies, Inc. (IT Services) (a) | | | 17 | |
| | |
| | 133 | | | Albemarle Corp. (Chemicals) | | | 9 | |
| | |
| | 142 | | | Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts) | | | 20 | |
| | |
| | 281 | | | Alexion Pharmaceuticals, Inc. (Biotechnology) (a) | | | 37 | |
| | |
| | 95 | | | Align Technology, Inc. (Health Care Equipment & Supplies) (a) | | | 26 | |
| | |
| | 19 | | | Alleghany Corp. (Insurance) (a) | | | 13 | |
| | |
| | 60 | | | Alliance Data Systems Corp. (IT Services) | | | 8 | |
| | |
| | 297 | | | Alliant Energy Corp. (Electric Utilities) | | | 15 | |
| | |
| | 429 | | | Allstate Corp. (Insurance) | | | 44 | |
| | |
| | 507 | | | Ally Financial, Inc. (Consumer Finance) | | | 16 | |
| | |
| | 121 | | | Alnylam Pharmaceuticals, Inc. (Biotechnology) (a) | | | 9 | |
| | |
| | 385 | | | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | | | 417 | |
| | |
| | 405 | | | Alphabet, Inc., Class – C (Interactive Media & Services) (a) | | | 438 | |
| | |
| | 187 | | | Altice USA, Inc. (Media) (a) | | | 5 | |
| | |
| | 538 | | | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | | | 1,019 | |
| | |
| | 11 | | | AMERCO, Inc. (Road & Rail) | | | 4 | |
| | |
| | 308 | | | Ameren Corp. (Multi-Utilities) | | | 23 | |
| | |
| | 142 | | | American Airlines Group, Inc. (Airlines) | | | 5 | |
| | |
| | 638 | | | American Electric Power, Inc. (Electric Utilities) | | | 56 | |
| | |
| | 937 | | | American Express Co. (Consumer Finance) | | | 115 | |
| | |
| | 95 | | | American Financial Group, Inc. (Insurance) | | | 10 | |
| | |
| | 1,123 | | | American International Group, Inc. (Insurance) | | | 60 | |
| | |
| | 569 | | | American Tower Corp. (Equity Real Estate Investment Trusts) | | | 117 | |
| | |
| | 228 | | | American Water Works Co., Inc. (Water Utilities) | | | 26 | |
| | |
| | 171 | | | Ameriprise Financial, Inc. (Capital Markets) | | | 25 | |
| | |
| | 200 | | | AmerisourceBergen Corp. (Health Care Providers & Services) | | | 17 | |
| | |
| | 286 | | | AMETEK, Inc. (Electrical Equipment) | | | 26 | |
| | |
| | 376 | | | Amphenol Corp., Class – A (Electronic Equipment, Instruments & Components) | | | 36 | |
| | |
| | 646 | | | Anadarko Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 46 | |
| | |
| | 476 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 54 | |
| | |
| | 1,763 | | | Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts) | | | 16 | |
| | |
| | 105 | | | ANSYS, Inc. (Software) (a) | | | 22 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 331 | | | Anthem, Inc. (Health Care Providers & Services) | | $ | 93 | |
| | |
| | 472 | | | Apache Corp. (Oil, Gas & Consumable Fuels) | | | 14 | |
| | |
| | 6,077 | | | Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 1,204 | |
| | |
| | 1,226 | | | Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 55 | |
| | |
| | 311 | | | Aramark (Hotels, Restaurants & Leisure) | | | 11 | |
| | |
| | 705 | | | Archer-Daniels-Midland Co. (Food Products) | | | 29 | |
| | |
| | 549 | | | Arconic, Inc. (Aerospace & Defense) | | | 14 | |
| | |
| | 67 | | | Arista Networks, Inc. (Communications Equipment) (a) | | | 17 | |
| | |
| | 107 | | | Arrow Electronics, Inc. (Electronic Equipment, Instruments & Components) (a) | | | 8 | |
| | |
| | 232 | | | Arthur J. Gallagher & Co. (Insurance) | | | 20 | |
| | |
| | 78 | | | Assurant, Inc. (Insurance) | | | 8 | |
| | |
| | 9,391 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 315 | |
| | |
| | 147 | | | Atmos Energy Corp. (Gas Utilities) | | | 15 | |
| | |
| | 283 | | | Autodesk, Inc. (Software) (a) | | | 46 | |
| | |
| | 104 | | | Autoliv, Inc. (Auto Components) | | | 7 | |
| | |
| | 562 | | | Automatic Data Processing, Inc. (IT Services) | | | 93 | |
| | |
| | 32 | | | AutoZone, Inc. (Specialty Retail) (a) | | | 35 | |
| | |
| | 179 | | | AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts) | | | 36 | |
| | |
| | 106 | | | Avery Dennison Corp. (Containers & Packaging) | | | 12 | |
| | |
| | 371 | | | AXA Equitable Holdings, Inc. (Diversified Financial Services) | | | 8 | |
| | |
| | 265 | | | Axalta Coating Systems Ltd. (Chemicals) (a) | | | 8 | |
| | |
| | 647 | | | Baker Hughes, Inc. (Energy Equipment & Services) | | | 16 | |
| | |
| | 400 | | | Ball Corp. (Containers & Packaging) | | | 29 | |
| | |
| | 11,829 | | | Bank of America Corp. (Banks) | | | 343 | |
| | |
| | 1,110 | | | Bank of New York Mellon Corp. (Capital Markets) | | | 49 | |
| | |
| | 629 | | | Baxter International, Inc. (Health Care Equipment & Supplies) | | | 52 | |
| | |
| | 987 | | | BB&T Corp. (Banks) | | | 48 | |
| | |
| | 348 | | | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 88 | |
| | |
| | 1,682 | | | Berkshire Hathaway, Inc., Class – B (Diversified Financial Services) (a) | | | 359 | |
| | |
| | 344 | | | Best Buy Co., Inc. (Specialty Retail) | | | 24 | |
| | |
| | 224 | | | BioMarin Pharmaceutical, Inc. (Biotechnology) (a) | | | 19 | |
| | |
| | 155 | | | BlackRock, Inc., Class – A (Capital Markets) | | | 73 | |
| | |
| | 58 | | | Booking Holdings, Inc. (Internet & Direct Marketing Retail) (a) | | | 109 | |
| | |
| | 261 | | | BorgWarner, Inc. (Auto Components) | | | 12 | |
| | |
| | 195 | | | Boston Properties, Inc. (Equity Real Estate Investment Trusts) | | | 25 | |
| | |
| | 1,789 | | | Boston Scientific Corp. (Health Care Equipment & Supplies) (a) | | | 77 | |
| | |
| | 133 | | | Brighthouse Financial, Inc. (Insurance) (a) | | | 5 | |
| | |
| | 511 | | | Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 147 | |
| | |
| | 145 | | | Broadridge Financial Solutions, Inc. (IT Services) | | | 19 | |
| | |
| | 387 | | | Brown-Forman Corp., Class – B (Beverages) | | | 21 | |
| | |
| | 85 | | | Burlington Stores, Inc. (Specialty Retail) (a) | | | 14 | |
See accompanying notes to financial statements.
159
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 176 | | | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | $ | 15 | |
| | |
| | 533 | | | Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 12 | |
| | |
| | 353 | | | Cadence Design Systems, Inc. (Software) (a) | | | 25 | |
| | |
| | 122 | | | Camden Property Trust (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 208 | | | Campbell Soup Co. (Food Products) | | | 8 | |
| | |
| | 605 | | | Capital One Financial Corp. (Consumer Finance) | | | 55 | |
| | |
| | 434 | | | Cardinal Health, Inc. (Health Care Providers & Services) | | | 20 | |
| | |
| | 214 | | | CarMax, Inc. (Specialty Retail) (a) | | | 19 | |
| | |
| | 743 | | | Caterpillar, Inc. (Machinery) | | | 102 | |
| | |
| | 141 | | | CBOE Holdings, Inc. (Capital Markets) | | | 15 | |
| | |
| | 408 | | | CBRE Group, Inc., Class – A (Real Estate Management & Development) (a) | | | 21 | |
| | |
| | 416 | | | CBS Corp., Class – B (Media) | | | 21 | |
| | |
| | 157 | | | CDK Global, Inc. (Software) | | | 8 | |
| | |
| | 185 | | | CDW Corporation of Delaware (Electronic Equipment, Instruments & Components) | | | 21 | |
| | |
| | 161 | | | Celanese Corp., Series A (Chemicals) | | | 17 | |
| | |
| | 520 | | | Centene Corp. (Health Care Providers & Services) (a) | | | 27 | |
| | |
| | 631 | | | CenterPoint Energy, Inc. (Multi-Utilities) | | | 18 | |
| | |
| | 1,225 | | | CenturyLink, Inc. (Diversified Telecommunication Services) | | | 14 | |
| | |
| | 449 | | | Cerner Corp. (Health Care Technology) | | | 33 | |
| | |
| | 281 | | | CF Industries Holdings, Inc. (Chemicals) | | | 13 | |
| | |
| | 203 | | | Charter Communications, Inc., Class – A (Media) (a) | | | 80 | |
| | |
| | 292 | | | Cheniere Energy, Inc. (Oil, Gas & Consumable Fuels) (a) | | | 20 | |
| | |
| | 2,450 | | | Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 304 | |
| | |
| | 33 | | | Chipotle Mexican Grill, Inc. (Hotels, Restaurants & Leisure) (a) | | | 24 | |
| | |
| | 491 | | | Cigna Corp. (Health Care Providers & Services) | | | 77 | |
| | |
| | 128 | | | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | | | 8 | |
| | |
| | 195 | | | Cincinnati Financial Corp. (Insurance) | | | 20 | |
| | |
| | 112 | | | Cintas Corp. (Commercial Services & Supplies) | | | 27 | |
| | |
| | 5,680 | | | Cisco Systems, Inc. (Communications Equipment) | | | 311 | |
| | |
| | 127 | | | CIT Group, Inc. (Banks) | | | 7 | |
| | |
| | 3,019 | | | Citigroup, Inc. (Banks) | | | 211 | |
| | |
| | 593 | | | Citizens Financial Group, Inc. (Banks) | | | 21 | |
| | |
| | 166 | | | Citrix Systems, Inc. (Software) | | | 16 | |
| | |
| | 462 | | | CME Group, Inc. (Capital Markets) | | | 89 | |
| | |
| | 357 | | | CMS Energy Corp. (Multi-Utilities) | | | 21 | |
| | |
| | 215 | | | Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 10 | |
| | |
| | 743 | | | Cognizant Technology Solutions Corp. (IT Services) | | | 47 | |
| | |
| | 1,057 | | | Colgate-Palmolive Co. (Household Products) | | | 76 | |
| | |
| | 5,823 | | | Comcast Corp., Class – A (Media) | | | 245 | |
| | |
| | 201 | | | Comerica, Inc. (Banks) | | | 15 | |
| | |
| | 242 | | | Commscope Holding, Inc. (Communications Equipment) (a) | | | 4 | |
| | |
| | 611 | | | ConAgra Foods, Inc. (Food Products) | | | 16 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 253 | | | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) | | $ | 26 | |
| | |
| | 1,491 | | | ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 91 | |
| | |
| | 404 | | | Consolidated Edison, Inc. (Multi-Utilities) | | | 35 | |
| | |
| | 216 | | | Constellation Brands, Inc., Class – A (Beverages) | | | 43 | |
| | |
| | 118 | | | Continental Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 5 | |
| | |
| | 259 | | | Copart, Inc. (Commercial Services & Supplies) (a) | | | 19 | |
| | |
| | 947 | | | Corteva, Inc. (Chemicals) | | | 28 | |
| | |
| | 46 | | | CoStar Group, Inc. (Professional Services) (a) | | | 25 | |
| | |
| | 569 | | | Costco Wholesale Corp. (Food & Staples Retailing) | | | 150 | |
| | |
| | 378 | | | Coty, Inc., Class – A (Personal Products) | | | 5 | |
| | |
| | 531 | | | Crown Castle International Corp. (Equity Real Estate Investment Trusts) | | | 70 | |
| | |
| | 170 | | | Crown Holdings, Inc. (Containers & Packaging) (a) | | | 10 | |
| | |
| | 1,022 | | | CSX Corp. (Road & Rail) | | | 79 | |
| | |
| | 188 | | | Cummins, Inc. (Machinery) | | | 32 | |
| | |
| | 1,674 | | | CVS Caremark Corp. (Health Care Providers & Services) | | | 91 | |
| | |
| | 446 | | | D.R. Horton, Inc. (Household Durables) | | | 20 | |
| | |
| | 155 | | | Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 19 | |
| | |
| | 206 | | | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | | | 12 | |
| | |
| | 393 | | | Deere & Co. (Machinery) | | | 65 | |
| | |
| | 195 | | | Dell Technologies, Inc. (Technology Hardware, Storage & Peripherals) (a) | | | 10 | |
| | |
| | 258 | | | Delta Air Lines, Inc. (Airlines) | | | 15 | |
| | |
| | 280 | | | Dentsply Sirona, Inc. (Health Care Equipment & Supplies) | | | 16 | |
| | |
| | 551 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 16 | |
| | |
| | 113 | | | Dexcom, Inc. (Health Care Equipment & Supplies) (a) | | | 17 | |
| | |
| | 197 | | | Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 21 | |
| | |
| | 261 | | | Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts) | | | 31 | |
| | |
| | 440 | | | Discover Financial Services (Consumer Finance) | | | 34 | |
| | |
| | 198 | | | Discovery Communications, Inc., Class – A (Media) (a) | | | 6 | |
| | |
| | 453 | | | Discovery Communications, Inc., Class – C (Media) (a) | | | 13 | |
| | |
| | 289 | | | Dish Network Corp. (Media) (a) | | | 11 | |
| | |
| | 129 | | | DocuSign, Inc. (Software) (a) | | | 6 | |
| | |
| | 340 | | | Dollar General Corp. (Multiline Retail) | | | 47 | |
| | |
| | 300 | | | Dollar Tree, Inc. (Multiline Retail) (a) | | | 32 | |
| | |
| | 1,032 | | | Dominion Resources, Inc. (Multi-Utilities) | | | 80 | |
| | |
| | 49 | | | Domino’s Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 14 | |
| | |
| | 188 | | | Dover Corp. (Machinery) | | | 19 | |
| | |
| | 988 | | | Dow, Inc. (Chemicals) | | | 49 | |
| | |
| | 240 | | | Dropbox, Inc. (Software) (a) | | | 6 | |
| | |
| | 229 | | | DTE Energy Co. (Multi-Utilities) | | | 29 | |
| | |
| | 939 | | | Duke Energy Corp. (Electric Utilities) | | | 83 | |
| | |
| | 452 | | | Duke Realty Corp. (Equity Real Estate Investment Trusts) | | | 14 | |
See accompanying notes to financial statements.
160
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 971 | | | DuPont de Nemours, Inc. (Chemicals) | | $ | 73 | |
| | |
| | 338 | | | DXC Technology Co. (IT Services) | | | 19 | |
| | |
| | 311 | | | E*Trade Financial Corp. (Capital Markets) | | | 14 | |
| | |
| | 183 | | | East West Bancorp, Inc. (Banks) | | | 9 | |
| | |
| | 176 | | | Eastman Chemical Co. (Chemicals) | | | 14 | |
| | |
| | 145 | | | Eaton Vance Corp. (Capital Markets) | | | 6 | |
| | |
| | 1,124 | | | eBay, Inc. (Internet & Direct Marketing Retail) | | | 44 | |
| | |
| | 336 | | | Ecolab, Inc. (Chemicals) | | | 66 | |
| | |
| | 410 | | | Edison International (Electric Utilities) | | | 28 | |
| | |
| | 269 | | | Edwards Lifesciences Corp. (Health Care Equipment & Supplies) (a) | | | 50 | |
| | |
| | 400 | | | Elanco Animal Health, Inc. (Pharmaceuticals) (a) | | | 14 | |
| | |
| | 377 | | | Electronic Arts, Inc. (Entertainment) (a) | | | 38 | |
| | |
| | 794 | | | Emerson Electric Co. (Electrical Equipment) | | | 52 | |
| | |
| | 239 | | | Entergy Corp. (Electric Utilities) | | | 25 | |
| | |
| | 749 | | | EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 70 | |
| | |
| | 68 | | | EPAM Systems, Inc. (IT Services) (a) | | | 12 | |
| | |
| | 152 | | | Equifax, Inc. (Professional Services) | | | 21 | |
| | |
| | 104 | | | Equinix, Inc. (Equity Real Estate Investment Trusts) | | | 52 | |
| | |
| | 107 | | | Equity Lifestyle Properties, Inc. (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 466 | | | Equity Residential (Equity Real Estate Investment Trusts) | | | 35 | |
| | |
| | 32 | | | Erie Indemnity Co., Class – A (Insurance) | | | 8 | |
| | |
| | 83 | | | Essex Property Trust, Inc. (Equity Real Estate Investment Trusts) | | | 24 | |
| | |
| | 320 | | | Evergy, Inc. (Electric Utilities) | | | 19 | |
| | |
| | 399 | | | Eversource Energy (Electric Utilities) | | | 30 | |
| | |
| | 158 | | | Exact Sciences Corp. (Biotechnology) (a) | | | 19 | |
| | |
| | 1,288 | | | Exelon Corp. (Electric Utilities) | | | 62 | |
| | |
| | 152 | | | Expedia, Inc. (Internet & Direct Marketing Retail) | | | 20 | |
| | |
| | 216 | | | Expeditors International of Washington, Inc.
(Air Freight & Logistics) | | | 16 | |
| | |
| | 160 | | | Extra Space Storage, Inc. (Equity Real Estate Investment Trusts) | | | 17 | |
| | |
| | 5,462 | | | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 418 | |
| | |
| | 75 | | | F5 Networks, Inc. (Communications Equipment) (a) | | | 11 | |
| | |
| | 3,075 | | | Facebook, Inc., Class – A (Interactive Media & Services) (a) | | | 594 | |
| | |
| | 48 | | | FactSet Research Systems, Inc. (Capital Markets) | | | 14 | |
| | |
| | 721 | | | Fastenal Co. (Trading Companies & Distributors) | | | 23 | |
| | |
| | 93 | | | Federal Realty Investment Trust (Equity Real Estate Investment Trusts) | | | 12 | |
| | |
| | 321 | | | FedEx Corp. (Air Freight & Logistics) | | | 53 | |
| | |
| | 417 | | | Fidelity National Information Services, Inc.
(IT Services) | | | 51 | |
| | |
| | 1,018 | | | Fifth Third Bancorp (Banks) | | | 28 | |
| | |
| | 716 | | | First Data Corp. (IT Services) (a) | | | 19 | |
| | |
| | 210 | | | First Republic Bank (Banks) | | | 21 | |
| | |
| | 667 | | | FirstEnergy Corp. (Electric Utilities) | | | 29 | |
| | |
| | 507 | | | Fiserv, Inc. (IT Services) (a) | | | 46 | |
| | |
| | 108 | | | FleetCor Technologies, Inc. (IT Services) (a) | | | 30 | |
| | |
| | 175 | | | Flowserve Corp. (Machinery) | | | 9 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 176 | | | Fluor Corp. (Construction & Engineering) | | $ | 6 | |
| | |
| | 166 | | | FMC Corp. (Chemicals) | | | 14 | |
| | |
| | 347 | | | FNF Group (Insurance) | | | 14 | |
| | |
| | 5,050 | | | Ford Motor Co. (Automobiles) | | | 52 | |
| | |
| | 199 | | | Fortinet, Inc. (Software) (a) | | | 15 | |
| | |
| | 379 | | | Fortive Corp. (Machinery) | | | 31 | |
| | |
| | 177 | | | Fortune Brands Home & Security, Inc. (Building Products) | | | 10 | |
| | |
| | 461 | | | Franklin Resources, Inc. (Capital Markets) | | | 16 | |
| | |
| | 1,824 | | | Freeport-McMoRan Copper & Gold, Inc. (Metals & Mining) | | | 21 | |
| | |
| | 295 | | | Gap, Inc. (Specialty Retail) | | | 5 | |
| | |
| | 113 | | | Gartner Group, Inc. (IT Services) (a) | | | 18 | |
| | |
| | 772 | | | General Mills, Inc. (Food Products) | | | 41 | |
| | |
| | 1,639 | | | General Motors Co. (Automobiles) | | | 64 | |
| | |
| | 184 | | | Genuine Parts Co. (Distributors) | | | 19 | |
| | |
| | 199 | | | Global Payments, Inc. (IT Services) | | | 32 | |
| | |
| | 218 | | | GoDaddy, Inc., Class – A (IT Services) (a) | | | 15 | |
| | |
| | 428 | | | Goldman Sachs Group, Inc. (Capital Markets) | | | 87 | |
| | |
| | 114 | | | GrubHub, Inc. (Internet & Direct Marketing Retail) (a) | | | 9 | |
| | |
| | 344 | | | H&R Block, Inc. (Diversified Consumer Services) | | | 10 | |
| | |
| | 1,099 | | | Halliburton Co. (Energy Equipment & Services) | | | 25 | |
| | |
| | 455 | | | Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 8 | |
| | |
| | 231 | | | Harley-Davidson, Inc. (Automobiles) | | | 8 | |
| | |
| | 452 | | | Hartford Financial Services Group, Inc. (Insurance) | | | 25 | |
| | |
| | 150 | | | Hasbro, Inc. (Leisure Products) | | | 16 | |
| | |
| | 369 | | | HCA Holdings, Inc. (Health Care Providers & Services) | | | 50 | |
| | |
| | 602 | | | HCP, Inc. (Equity Real Estate Investment Trusts) | | | 19 | |
| | |
| | 224 | | | HD Supply Holdings, Inc. (Trading Companies & Distributors) (a) | | | 9 | |
| | |
| | 54 | | | HEICO Corp. (Aerospace & Defense) | | | 7 | |
| | |
| | 95 | | | HEICO Corp., Class – A (Aerospace & Defense) | | | 10 | |
| | |
| | 138 | | | Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 7 | |
| | |
| | 226 | | | Henry Schein, Inc. (Health Care Providers & Services) (a) | | | 16 | |
| | |
| | 191 | | | Hershey Co. (Food Products) | | | 26 | |
| | |
| | 343 | | | Hess Corp. (Oil, Gas & Consumable Fuels) | | | 22 | |
| | |
| | 1,887 | | | Hewlett Packard Enterprise Co. (Technology Hardware, Storage & Peripherals) | | | 28 | |
| | |
| | 350 | | | Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 34 | |
| | |
| | 204 | | | HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | | | 9 | |
| | |
| | 336 | | | Hologic, Inc. (Health Care Equipment & Supplies) (a) | | | 16 | |
| | |
| | 371 | | | Hormel Foods Corp. (Food Products) | | | 15 | |
| | |
| | 933 | | | Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts) | | | 17 | |
| | |
| | 2,076 | | | HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 43 | |
| | |
| | 176 | | | Humana, Inc. (Health Care Providers & Services) | | | 47 | |
| | |
| | 109 | | | Hunt (JB) Transportation Services, Inc. (Road & Rail) | | | 10 | |
See accompanying notes to financial statements.
161
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 1,318 | | | Huntington Bancshares, Inc. (Banks) | | $ | 18 | |
| | |
| | 95 | | | IDEX Corp. (Machinery) | | | 16 | |
| | |
| | 108 | | | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | | | 30 | |
| | |
| | 424 | | | Illinois Tool Works, Inc. (Machinery) | | | 64 | |
| | |
| | 189 | | | Illumina, Inc. (Life Sciences Tools & Services) (a) | | | 69 | |
| | |
| | 229 | | | Incyte Corp. (Biotechnology) (a) | | | 19 | |
| | |
| | 84 | | | Ingredion, Inc. (Food Products) | | | 7 | |
| | |
| | 5,810 | | | Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 278 | |
| | |
| | 98 | | | InterActive Corp. (Interactive Media & Services) (a) | | | 21 | |
| | |
| | 735 | | | Intercontinental Exchange Group, Inc. (Capital Markets) | | | 63 | |
| | |
| | 1,157 | | | International Business Machines Corp.
(IT Services) | | | 160 | |
| | |
| | 128 | | | International Flavors & Fragrances, Inc. (Chemicals) | | | 19 | |
| | |
| | 479 | | | International Paper Co. (Containers & Packaging) | | | 21 | |
| | |
| | 340 | | | Intuit, Inc. (Software) | | | 89 | |
| | |
| | 148 | | | Intuitive Surgical, Inc. (Health Care Equipment & Supplies) (a) | | | 78 | |
| | |
| | 495 | | | Invitation Homes, Inc. (Equity Real Estate Investment Trusts) | | | 13 | |
| | |
| | 165 | | | Ionis Pharmaceuticals, Inc. (Biotechnology) (a) | | | 11 | |
| | |
| | 46 | | | IPG Photonics Corp. (Electronic Equipment, Instruments & Components) (a) | | | 7 | |
| | |
| | 211 | | | IQVIA Holdings, Inc. (Life Sciences Tools & Services) (a) | | | 34 | |
| | |
| | 361 | | | Iron Mountain, Inc. (Equity Real Estate Investment Trusts) | | | 11 | |
| | |
| | 97 | | | Jack Henry & Associates, Inc. (IT Services) | | | 13 | |
| | |
| | 176 | | | Jacobs Engineering Group, Inc. (Construction & Engineering) | | | 15 | |
| | |
| | 90 | | | Jazz Pharmaceuticals PLC (Pharmaceuticals) (a) | | | 13 | |
| | |
| | 323 | | | Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 6 | |
| | |
| | 1,078 | | | Johnson Controls International PLC (Building Products) | | | 45 | |
| | |
| | 57 | | | Jones Lang LaSalle, Inc. (Real Estate Management & Development) | | | 8 | |
| | |
| | 4,220 | | | JPMorgan Chase & Co. (Banks) | | | 472 | |
| | |
| | 438 | | | Juniper Networks, Inc. (Communications Equipment) | | | 12 | |
| | |
| | 127 | | | Kansas City Southern (Road & Rail) | | | 15 | |
| | |
| | 371 | | | Kellogg Co. (Food Products) | | | 20 | |
| | |
| | 1,270 | | | KeyCorp (Banks) | | | 23 | |
| | |
| | 237 | | | Keysight Technologies, Inc. (Electronic Equipment, Instruments & Components) (a) | | | 21 | |
| | |
| | 445 | | | Kimberly-Clark Corp. (Household Products) | | | 59 | |
| | |
| | 531 | | | Kimco Realty Corp. (Equity Real Estate Investment Trusts) | | | 10 | |
| | |
| | 2,632 | | | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 55 | |
| | |
| | 612 | | | KKR & Co., Inc., Class – A (Capital Markets) | | | 15 | |
| | |
| | 206 | | | KLA-Tencor Corp. (Semiconductors & Semiconductor Equipment) | | | 24 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 163 | | | Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | $ | 5 | |
| | |
| | 261 | | | Kohl’s Corp. (Multiline Retail) | | | 12 | |
| | |
| | 295 | | | L Brands, Inc. (Specialty Retail) | | | 8 | |
| | |
| | 127 | | | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | | | 22 | |
| | |
| | 192 | | | Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 36 | |
| | |
| | 185 | | | Lamb Weston Holding, Inc. (Food Products) | | | 12 | |
| | |
| | 439 | | | Las Vegas Sands Corp. (Hotels, Restaurants & Leisure) | | | 26 | |
| | |
| | 75 | | | Lear Corp. (Auto Components) | | | 10 | |
| | |
| | 165 | | | Leggett & Platt, Inc. (Household Durables) | | | 6 | |
| | |
| | 361 | | | Lennar Corp., Class – A (Household Durables) | | | 18 | |
| | |
| | 45 | | | Lennox International, Inc. (Building Products) | | | 12 | |
| | |
| | 135 | | | Liberty Broadband, Class – C (Media) (a) | | | 14 | |
| | |
| | 256 | | | Liberty Media Group, Class – C (Entertainment) (a) | | | 10 | |
| | |
| | 187 | | | Liberty Property Trust (Equity Real Estate Investment Trusts) | | | 9 | |
| | |
| | 110 | | | Liberty SiriusXM Group, Class – A (Media) (a) | | | 4 | |
| | |
| | 212 | | | Liberty SiriusXM Group, Class – C (Media) (a) | | | 8 | |
| | |
| | 258 | | | Lincoln National Corp. (Insurance) | | | 17 | |
| | |
| | 186 | | | Live Nation Entertainment, Inc. (Entertainment) (a) | | | 12 | |
| | |
| | 398 | | | LKQ Corp. (Distributors) (a) | | | 11 | |
| | |
| | 353 | | | Loews Corp. (Insurance) | | | 19 | |
| | |
| | 1,033 | | | Lowe’s Companies, Inc. (Specialty Retail) | | | 104 | |
| | |
| | 166 | | | M&T Bank Corp. (Banks) | | | 28 | |
| | |
| | 387 | | | Macy’s, Inc. (Multiline Retail) | | | 8 | |
| | |
| | 76 | | | ManpowerGroup, Inc. (Professional Services) | | | 7 | |
| | |
| | 1,217 | | | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 17 | |
| | |
| | 871 | | | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 49 | |
| | |
| | 18 | | | Markel Corp. (Insurance) (a) | | | 20 | |
| | |
| | 47 | | | MarketAxess Holdings, Inc. (Capital Markets) | | | 15 | |
| | |
| | 375 | | | Marriott International, Inc., Class – A (Hotels, Restaurants & Leisure) | | | 53 | |
| | |
| | 651 | | | Marsh & McLennan Companies, Inc. (Insurance) | | | 66 | |
| | |
| | 79 | | | Martin Marietta Materials, Inc. (Construction Materials) | | | 18 | |
| | |
| | 371 | | | Masco Corp. (Building Products) | | | 15 | |
| | |
| | 1,177 | | | MasterCard, Inc., Class – A (IT Services) | | | 311 | |
| | |
| | 344 | | | Maxim Integrated Products, Inc. (Semiconductors & Semiconductor Equipment) | | | 21 | |
| | |
| | 158 | | | McCormick & Company, Inc. (Food Products) | | | 24 | |
| | |
| | 987 | | | McDonald’s Corp. (Hotels, Restaurants & Leisure) | | | 205 | |
| | |
| | 242 | | | McKesson Corp. (Health Care Providers & Services) | | | 33 | |
| | |
| | 54 | | | MercadoLibre, Inc. (Internet & Direct Marketing Retail) (a) | | | 33 | |
| | |
| | 1,052 | | | MetLife, Inc. (Insurance) | | | 52 | |
| | |
| | 32 | | | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | | | 27 | |
| | |
| | 642 | | | MGM Resorts International (Hotels, Restaurants & Leisure) | | | 18 | |
| | |
| | 299 | | | Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 26 | |
See accompanying notes to financial statements.
162
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 1,449 | | | Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) (a) | | $ | 56 | |
| | |
| | 9,393 | | | Microsoft Corp. (Software) | | | 1,259 | |
| | |
| | 144 | | | Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts) | | | 17 | |
| | |
| | 78 | | | Mohawk Industries, Inc. (Household Durables) (a) | | | 12 | |
| | |
| | 239 | | | Molson Coors Brewing Co., Class – B (Beverages) | | | 13 | |
| | |
| | 1,864 | | | Mondelez International, Inc., Class – A (Food Products) | | | 100 | |
| | |
| | 39 | | | Mongodb, Inc. (IT Services) (a) | | | 6 | |
| | |
| | 513 | | | Monster Beverage Corp. (Beverages) (a) | | | 33 | |
| | |
| | 223 | | | Moody’s Corp. (Capital Markets) | | | 44 | |
| | |
| | 1,655 | | | Morgan Stanley (Capital Markets) | | | 73 | |
| | |
| | 206 | | | Motorola Solutions, Inc. (Communications Equipment) | | | 34 | |
| | |
| | 106 | | | MSCI, Inc. Common (Capital Markets) | | | 25 | |
| | |
| | 483 | | | National Oilwell Varco, Inc. (Energy Equipment & Services) | | | 11 | |
| | |
| | 203 | | | National Retail Properties, Inc. (Equity Real Estate Investment Trusts) | | | 11 | |
| | |
| | 218 | | | Nektar Therapeutics (Pharmaceuticals) (a) | | | 8 | |
| | |
| | 311 | | | NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 19 | |
| | |
| | 563 | | | Netflix, Inc. (Entertainment) (a) | | | 207 | |
| | |
| | 1,030 | | | Newmont Mining Corp. (Metals & Mining) | | | 39 | |
| | |
| | 486 | | | News Corp., Inc., Class – A (Media) | | | 7 | |
| | |
| | 617 | | | NextEra Energy, Inc. (Electric Utilities) | | | 125 | |
| | |
| | 447 | | | Nielsen Holdings PLC (Professional Services) | | | 10 | |
| | |
| | 1,618 | | | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | | | 136 | |
| | |
| | 469 | | | NiSource, Inc. (Multi-Utilities) | | | 14 | |
| | |
| | 608 | | | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 14 | |
| | |
| | 203 | | | Nordstrom, Inc. (Multiline Retail) | | | 6 | |
| | |
| | 346 | | | Norfolk Southern Corp. (Road & Rail) | | | 69 | |
| | |
| | 261 | | | Northern Trust Corp. (Capital Markets) | | | 23 | |
| | |
| | 274 | | | Norwegian Cruise Line Holdings Ltd. (Hotels, Restaurants & Leisure) (a) | | | 15 | |
| | |
| | 354 | | | NRG Energy, Inc., Class – C (Independent Power and Renewable Electricity Producers) | | | 12 | |
| | |
| | 384 | | | Nucor Corp. (Metals & Mining) | | | 21 | |
| | |
| | 743 | | | NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 122 | |
| | |
| | 4 | | | NVR, Inc. (Household Durables) (a) | | | 13 | |
| | |
| | 981 | | | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 49 | |
| | |
| | 252 | | | OGE Energy Corp. (Electric Utilities) | | | 11 | |
| | |
| | 128 | | | Okta, Inc. (IT Services) (a) | | | 16 | |
| | |
| | 82 | | | Old Dominion Freight Line, Inc. (Road & Rail) | | | 12 | |
| | |
| | 282 | | | Omnicom Group, Inc. (Media) | | | 23 | |
| | |
| | 516 | | | ON Semiconductor Corp. (Semiconductors & Semiconductor Equipment) (a) | | | 10 | |
| | |
| | 518 | | | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 36 | |
| | |
| | 3,262 | | | Oracle Corp. (Software) | | | 186 | |
| | |
| | 101 | | | O’Reilly Automotive, Inc. (Specialty Retail) (a) | | | 37 | |
| | |
| | 138 | | | Owens Corning, Inc. (Building Products) | | | 8 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 436 | | | PACCAR, Inc. (Machinery) | | $ | 31 | |
| | |
| | 119 | | | Packaging Corporation of America (Containers & Packaging) | | | 11 | |
| | |
| | 118 | | | Palo Alto Networks, Inc. (Communications Equipment) (a) | | | 24 | |
| | |
| | 163 | | | Parker Hannifin Corp. (Machinery) | | | 28 | |
| | |
| | 353 | | | Parsley Energy, Inc., Class – A (Oil, Gas & Consumable Fuels) (a) | | | 7 | |
| | |
| | 407 | | | Paychex, Inc. (IT Services) | | | 33 | |
| | |
| | 63 | | | Paycom Software, Inc. (Software) (a) | | | 14 | |
| | |
| | 1,437 | | | PayPal Holdings, Inc. (IT Services) (a) | | | 164 | |
| | |
| | 500 | | | People’s United Financial, Inc. (Banks) | | | 8 | |
| | |
| | 1,816 | | | PepsiCo, Inc. (Beverages) | | | 238 | |
| | |
| | 611 | | | Phillips 66 (Oil, Gas & Consumable Fuels) | | | 57 | |
| | |
| | 142 | | | Pinnacle West Capital Corp. (Electric Utilities) | | | 13 | |
| | |
| | 212 | | | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 33 | |
| | |
| | 191 | | | Plains GP Holdings LP, Class – A (Oil, Gas & Consumable Fuels) | | | 5 | |
| | |
| | 590 | | | PNC Financial Services Group, Inc. (Banks) | | | 81 | |
| | |
| | 73 | | | Polaris Industries, Inc. (Leisure Products) | | | 7 | |
| | |
| | 297 | | | PPG Industries, Inc. (Chemicals) | | | 35 | |
| | |
| | 908 | | | PPL Corp. (Electric Utilities) | | | 28 | |
| | |
| | 351 | | | Principal Financial Group, Inc. (Insurance) | | | 20 | |
| | |
| | 814 | | | Prologis, Inc. (Equity Real Estate Investment Trusts) | | | 65 | |
| | |
| | 528 | | | Prudential Financial, Inc. (Insurance) | | | 53 | |
| | |
| | 142 | | | PTC, Inc. (Software) (a) | | | 13 | |
| | |
| | 653 | | | Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 38 | |
| | |
| | 203 | | | Public Storage (Equity Real Estate Investment Trusts) | | | 48 | |
| | |
| | 331 | | | PulteGroup, Inc. (Household Durables) | | | 10 | |
| | |
| | 95 | | | PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 9 | |
| | |
| | 154 | | | Qorvo, Inc. (Semiconductors & Semiconductor Equipment) (a) | | | 10 | |
| | |
| | 1,562 | | | Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 119 | |
| | |
| | 174 | | | Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 18 | |
| | |
| | 511 | | | Qurate Retail, Inc. (Internet & Direct Marketing Retail) (a) | | | 6 | |
| | |
| | 67 | | | Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 8 | |
| | |
| | 160 | | | Raymond James Financial, Inc. (Capital Markets) | | | 14 | |
| | |
| | 382 | | | Realty Income Corp. (Equity Real Estate Investment Trusts) | | | 26 | |
| | |
| | 229 | | | Red Hat, Inc. (Software) (a) | | | 43 | |
| | |
| | 211 | | | Regency Centers Corp. (Equity Real Estate Investment Trusts) | | | 14 | |
| | |
| | 1,282 | | | Regions Financial Corp. (Banks) | | | 19 | |
| | |
| | 79 | | | Reinsurance Group of America (Insurance) | | | 12 | |
| | |
| | 283 | | | Republic Services, Inc., Class – A (Commercial Services & Supplies) | | | 25 | |
| | |
| | 181 | | | ResMed, Inc. (Health Care Equipment & Supplies) | | | 22 | |
| | |
| | 155 | | | Robert Half International, Inc. (Professional Services) | | | 9 | |
| | |
| | 150 | | | Rockwell Automation, Inc. (Electrical Equipment) | | | 25 | |
See accompanying notes to financial statements.
163
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 186 | | | Rollins, Inc. (Commercial Services & Supplies) | | $ | 7 | |
| | |
| | 134 | | | Roper Industries, Inc. (Industrial Conglomerates) | | | 49 | |
| | |
| | 479 | | | Ross Stores, Inc. (Specialty Retail) | | | 47 | |
| | |
| | 321 | | | S&P Global, Inc. (Capital Markets) | | | 73 | |
| | |
| | 347 | | | Sabre Corp. (IT Services) | | | 8 | |
| | |
| | 987 | | | Salesforce.com, Inc. (Software) (a) | | | 150 | |
| | |
| | 142 | | | SBA Communications Corp. (Equity Real Estate Investment Trusts) (a) | | | 32 | |
| | |
| | 1,806 | | | Schlumberger Ltd. (Energy Equipment & Services) | | | 71 | |
| | |
| | 363 | | | Seagate Technology Holdings, Inc. (Technology Hardware, Storage & Peripherals) | | | 17 | |
| | |
| | 196 | | | Sealed Air Corp. (Containers & Packaging) | | | 8 | |
| | |
| | 142 | | | Seattle Genetics, Inc. (Biotechnology) (a) | | | 10 | |
| | |
| | 164 | | | SEI Investments Co. (Capital Markets) | | | 9 | |
| | |
| | 354 | | | Sempra Energy (Multi-Utilities) | | | 49 | |
| | |
| | 233 | | | ServiceNow, Inc. (Software) (a) | | | 64 | |
| | |
| | 70 | | | Signature Bank (Banks) | | | 8 | |
| | |
| | 396 | | | Simon Property Group, Inc. (Equity Real Estate Investment Trusts) | | | 63 | |
| | |
| | 2,088 | | | Sirius XM Holdings, Inc. (Media) | | | 12 | |
| | |
| | 219 | | | Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 17 | |
| | |
| | 105 | | | SL Green Realty Corp. (Equity Real Estate Investment Trusts) | | | 8 | |
| | |
| | 855 | | | Snap, Inc., Class – A (Interactive Media & Services) (a) | | | 12 | |
| | |
| | 72 | | | Snap-on, Inc. (Machinery) | | | 12 | |
| | |
| | 222 | | | Southwest Airlines Co. (Airlines) | | | 11 | |
| | |
| | 133 | | | Spirit Aerosystems Holdings, Inc., Class – A (Aerospace & Defense) | | | 11 | |
| | |
| | 186 | | | Splunk, Inc. (Software) (a) | | | 23 | |
| | |
| | 1,027 | | | Sprint Nextel Corp. (Wireless Telecommunication Services) (a) | | | 7 | |
| | |
| | 412 | | | Square, Inc., Class – A (IT Services) (a) | | | 30 | |
| | |
| | 284 | | | SS&C Technologies Holdings, Inc. (Software) | | | 16 | |
| | |
| | 191 | | | Stanley Black & Decker, Inc. (Machinery) | | | 28 | |
| | |
| | 1,605 | | | Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 135 | |
| | |
| | 527 | | | State Street Corp. (Capital Markets) | | | 30 | |
| | |
| | 282 | | | Steel Dynamics, Inc. (Metals & Mining) | | | 9 | |
| | |
| | 433 | | | Stryker Corp. (Health Care Equipment & Supplies) | | | 89 | |
| | |
| | 109 | | | Sun Communities, Inc. (Equity Real Estate Investment Trusts) | | | 14 | |
| | |
| | 558 | | | SunTrust Banks, Inc. (Banks) | | | 35 | |
| | |
| | 66 | | | SVB Financial Group (Banks) (a) | | | 15 | |
| | |
| | 805 | | | Symantec Corp. (Software) | | | 18 | |
| | |
| | 804 | | | Synchrony Financial (Consumer Finance) | | | 28 | |
| | |
| | 189 | | | Synopsys, Inc. (Software) (a) | | | 24 | |
| | |
| | 644 | | | Sysco Corp. (Food & Staples Retailing) | | | 46 | |
| | |
| | 324 | | | T. Rowe Price Group, Inc. (Capital Markets) | | | 36 | |
| | |
| | 95 | | | Tableau Software, Inc., Class – A (Software) (a) | | | 16 | |
| | |
| | 143 | | | Take-Two Interactive Software, Inc.
(Entertainment) (a) | | | 16 | |
| | |
| | 373 | | | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 12 | |
| | |
| | 289 | | | Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 11 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 674 | | | Target Corp. (Multiline Retail) | | $ | 59 | |
| | |
| | 362 | | | TD Ameritrade Holding Corp. (Capital Markets) | | | 18 | |
| | |
| | 58 | | | Teleflex, Inc. (Health Care Equipment & Supplies) | | | 19 | |
| | |
| | 163 | | | Tesla Motors, Inc. (Automobiles) (a) | | | 36 | |
| | |
| | 1,223 | | | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 140 | |
| | |
| | 985 | | | The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 17 | |
| | |
| | 1,550 | | | The Charles Schwab Corp. (Capital Markets) | | | 62 | |
| | |
| | 210 | | | The Chemours Co. (Chemicals) | | | 5 | |
| | |
| | 161 | | | The Clorox Co. (Household Products) | | | 25 | |
| | |
| | 5,237 | | | The Coca-Cola Co. (Beverages) | | | 267 | |
| | |
| | 1,457 | | | The Home Depot, Inc. (Specialty Retail) | | | 303 | |
| | |
| | 485 | | | The Interpublic Group of Companies, Inc. (Media) | | | 11 | |
| | |
| | 144 | | | The J.M. Smucker Co. (Food Products) | | | 17 | |
| | |
| | 844 | | | The Kraft Heinz Co. (Food Products) | | | 26 | |
| | |
| | 1,078 | | | The Kroger Co. (Food & Staples Retailing) | | | 23 | |
| | |
| | 143 | | | The Macerich Co. (Equity Real Estate Investment Trusts) | | | 5 | |
| | |
| | 70 | | | The Middleby Corp. (Machinery) (a) | | | 9 | |
| | |
| | 461 | | | The Mosaic Co. (Chemicals) | | | 12 | |
| | |
| | 145 | | | The Nasdaq OMX Group, Inc. (Capital Markets) | | | 14 | |
| | |
| | 776 | | | The Progressive Corp. (Insurance) | | | 62 | |
| | |
| | 108 | | | The Sherwin-Williams Co. (Chemicals) | | | 49 | |
| | |
| | 1,336 | | | The Southern Co. (Electric Utilities) | | | 74 | |
| | |
| | 1,592 | | | The TJX Companies, Inc. (Specialty Retail) | | | 84 | |
| | |
| | 340 | | | The Travelers Companies, Inc. (Insurance) | | | 51 | |
| | |
| | 2,320 | | | The Walt Disney Co. (Entertainment) | | | 324 | |
| | |
| | 1,566 | | | The Williams Companies, Inc. (Oil, Gas & Consumable Fuels) | | | 44 | |
| | |
| | 139 | | | Tiffany & Co. (Specialty Retail) | | | 13 | |
| | |
| | 429 | | | T-Mobile USA, Inc. (Wireless Telecommunication Services) (a) | | | 32 | |
| | |
| | 134 | | | Torchmark Corp. (Insurance) | | | 12 | |
| | |
| | 211 | | | Total System Services, Inc. (IT Services) | | | 27 | |
| | |
| | 152 | | | Tractor Supply Co. (Specialty Retail) | | | 17 | |
| | |
| | 60 | | | TransDigm Group, Inc. (Aerospace & Defense) (a) | | | 29 | |
| | |
| | 234 | | | TransUnion Holding Company, Inc. (Professional Services) | | | 17 | |
| | |
| | 317 | | | Trimble Navigation Ltd. (Electronic Equipment, Instruments & Components) (a) | | | 14 | |
| | |
| | 134 | | | TripAdvisor, Inc. (Interactive Media & Services) (a) | | | 6 | |
| | |
| | 141 | | | Twilio, Inc., Class – A (IT Services) (a) | | | 19 | |
| | |
| | 917 | | | Twitter, Inc. (Interactive Media & Services) (a) | | | 32 | |
| | |
| | 372 | | | Tyson Foods, Inc., Class – A (Food Products) | | | 30 | |
| | |
| | 1,962 | | | U.S. Bancorp (Banks) | | | 103 | |
| | |
| | 233 | | | Uber Technologies, Inc. (Road & Rail) (a) | | | 11 | |
| | |
| | 347 | | | UDR, Inc. (Equity Real Estate Investment Trusts) | | | 16 | |
| | |
| | 219 | | | UGI Corp. (Gas Utilities) | | | 12 | |
| | |
| | 71 | | | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | | | 25 | |
| | |
| | 237 | | | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods) (a) | | | 6 | |
| | |
| | 243 | | | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | | | 5 | |
| | |
| | 940 | | | Union Pacific Corp. (Road & Rail) | | | 160 | |
See accompanying notes to financial statements.
164
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United States (continued) | |
| | |
| | 84 | | | United Continental Holdings, Inc. (Airlines) (a) | | $ | 7 | |
| | |
| | 898 | | | United Parcel Service, Inc., Class – B (Air Freight & Logistics) | | | 93 | |
| | |
| | 100 | | | United Rentals, Inc. (Trading Companies & Distributors) (a) | | | 13 | |
| | |
| | 1,238 | | | UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 302 | |
| | |
| | 105 | | | Universal Health Services, Inc., Class – B (Health Care Providers & Services) | | | 14 | |
| | |
| | 270 | | | Unum Group (Insurance) | | | 9 | |
| | |
| | 424 | | | V.F. Corp. (Textiles, Apparel & Luxury Goods) | | | 37 | |
| | |
| | 51 | | | Vail Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 11 | |
| | |
| | 540 | | | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 46 | |
| | |
| | 114 | | | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | | | 16 | |
| | |
| | 157 | | | Veeva Systems, Inc. (Health Care Technology) (a) | | | 25 | |
| | |
| | 448 | | | Ventas, Inc. (Equity Real Estate Investment Trusts) | | | 31 | |
| | |
| | 1,219 | | | VEREIT, Inc. (Equity Real Estate Investment Trusts) | | | 11 | |
| | |
| | 136 | | | VeriSign, Inc. (IT Services) (a) | | | 28 | |
| | |
| | 5,327 | | | Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 304 | |
| | |
| | 196 | | | Versik Analytics, Inc., Class – A (Professional Services) | | | 29 | |
| | |
| | 340 | | | Vertex Pharmaceuticals, Inc. (Biotechnology) (a) | | | 62 | |
| | |
| | 445 | | | Viacom, Inc., Class – B (Entertainment) | | | 13 | |
| | |
| | 2,256 | | | Visa, Inc., Class – A (IT Services) | | | 393 | |
| | |
| | 459 | | | Vistra Energy Corp. (Independent Power and Renewable Electricity Producers) (a) | | | 10 | |
| | |
| | 104 | | | VMware, Inc., Class – A (Software) | | | 17 | |
| | |
| | 216 | | | Vornado Realty Trust (Equity Real Estate Investment Trusts) | | | 14 | |
| | |
| | 184 | | | Voya Financial, Inc. (Diversified Financial Services) | | | 10 | |
| | |
| | 166 | | | Vulcan Materials Co. (Construction Materials) | | | 23 | |
| | |
| | 185 | | | W.R. Berkley Corp. (Insurance) | | | 12 | |
| | |
| | 69 | | | W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 19 | |
| | |
| | 65 | | | WABCO Holdings, Inc. (Machinery) (a) | | | 9 | |
| | |
| | 199 | | | Wabtec Corp. (Machinery) | | | 14 | |
| | |
| | 1,036 | | | Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 57 | |
| | |
| | 1,873 | | | Wal-Mart Stores, Inc. (Food & Staples Retailing) | | | 207 | |
| | |
| | 547 | | | Waste Management, Inc. (Commercial Services & Supplies) | | | 62 | |
| | |
| | 93 | | | Waters Corp. (Life Sciences Tools & Services) (a) | | | 20 | |
| | |
| | 76 | | | Wayfair, Inc., Class – A (Internet & Direct Marketing Retail) (a) | | | 11 | |
| | |
| | 397 | | | WEC Energy Group, Inc. (Multi-Utilities) | | | 33 | |
| | |
| | 63 | | | WellCare Health Plans, Inc. (Health Care Providers & Services) (a) | | | 18 | |
| | |
| | 5,572 | | | Wells Fargo & Co. (Banks) | | | 264 | |
| | |
| | 500 | | | Welltower, Inc. (Equity Real Estate Investment Trusts) | | | 41 | |
| | |
| | 367 | | | Western Digital Corp. (Technology Hardware, Storage & Peripherals) | | | 17 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United States (continued) | |
| | |
| | 549 | | | Western Union Co. (IT Services) | | $ | 11 | |
| | |
| | 48 | | | Westlake Chemical Corp. (Chemicals) | | | 3 | |
| | |
| | 321 | | | WestRock Co. (Containers & Packaging) | | | 12 | |
| | |
| | 940 | | | Weyerhaeuser Co. (Equity Real Estate Investment Trusts) | | | 25 | |
| | |
| | 80 | | | Whirlpool Corp. (Household Durables) | | | 11 | |
| | |
| | 196 | | | Workday, Inc., Class – A (Software) (a) | | | 40 | |
| | |
| | 388 | | | Worldpay, Inc., Class – A (IT Services) (a) | | | 48 | |
| | |
| | 209 | | | WP Carey, Inc. (Equity Real Estate Investment Trusts) | | | 17 | |
| | |
| | 122 | | | Wynn Resorts Ltd. (Hotels, Restaurants & Leisure) | | | 15 | |
| | |
| | 648 | | | Xcel Energy, Inc. (Electric Utilities) | | | 39 | |
| | |
| | 331 | | | Xerox Corp. (Technology Hardware, Storage & Peripherals) | | | 12 | |
| | |
| | 332 | | | Xilinx, Inc. (Semiconductors & Semiconductor Equipment) | | | 39 | |
| | |
| | 138 | | | XPO Logistics, Inc. (Air Freight & Logistics) (a) | | | 8 | |
| | |
| | 226 | | | Xylem, Inc. (Machinery) | | | 19 | |
| | |
| | 396 | | | YUM! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 44 | |
| | |
| | 296 | | | Zayo Group Holdings, Inc. (Diversified Telecommunication Services) (a) | | | 10 | |
| | |
| | 68 | | | Zebra Technologies Corp., Class – A (Electronic Equipment, Instruments & Components) (a) | | | 14 | |
| | |
| | 159 | | | Zillow Group, Inc., Class – C (Interactive Media & Services) (a) | | | 7 | |
| | |
| | 258 | | | Zimmer Holdings, Inc. (Health Care Equipment & Supplies) | | | 30 | |
| | |
| | 234 | | | Zions Bancorp (Banks) | | | 11 | |
| | |
| | 633 | | | Zoetis, Inc. (Pharmaceuticals) | | | 71 | |
| | | | | | | | |
| | | | | | | 28,149 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 46,882 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 0.16% | | | | |
| |
| | | | Germany — 0.16% | |
| | |
| | 70 | | | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | | | 4 | |
| | |
| | 87 | | | Fuchs Petrolub AG – Preferred (Chemicals) | | | 3 | |
| | |
| | 224 | | | Henkel AG & Co. KGaA – Preferred (Household Products) | | | 22 | |
| | |
| | 193 | | | Porsche Automobil Holding SE – Preferred (Automobiles) | | | 13 | |
| | |
| | 234 | | | Volkswagen AG – Preferred (Automobiles) | | | 40 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 82 | |
| | | | | | | | |
| | |
| | | | Rights — 0.01% | | | | |
| |
| | | | Spain — 0.01% | |
| | |
| | 317 | | | ACS Actividades de Construccion y Servicios SA (Construction & Engineering) (a) | | | — | |
| | |
| | 4,462 | | | Repsol SA (Oil, Gas & Consumable Fuels) (a) | | | 3 | |
| | | | | | | | |
| | | | Total Rights | | | 3 | |
| | | | | | | | |
| | |
| | | | Investment Companies — 7.10% | | | | |
| | |
| | 8,558 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (c) | | | 9 | |
| | |
| | 3,643,479 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (c) | | | 3,643 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 3,652 | |
| | | | | | | | |
See accompanying notes to financial statements.
165
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Value
(000) | |
| | | | Repurchase Agreement — 0.02% | | | | |
| | |
| $ | 12 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $11,924 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $12,160)^^ | | $ | 12 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 12 | |
| | | | | | | | |
| | | | Total Investments
(cost $48,592) — 98.50% | | | 50,631 | |
| | | | Other assets in excess of
liabilities — 1.50% | | | 770 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 51,401 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $19 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
FDR— Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
As of June 30, 2019, 100% of the Portfolio’s net assets were managed by Mellon Investments Corporation.
See accompanying notes to financial statements.
166
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 92.83% | | | | |
| |
| | | | Australia — 3.32% | |
| | |
| | 23,836 | | | AGL Energy Ltd. (Multi-Utilities) | | $ | 335 | |
| | |
| | 196,248 | | | Alumina Ltd. (Metals & Mining) | | | 322 | |
| | |
| | 65,432 | | | AMP Ltd. (Diversified Financial Services) | | | 98 | |
| | |
| | 42,823 | | | APA Group (Gas Utilities) | | | 325 | |
| | |
| | 153,537 | | | Aurizon Holdings Ltd. (Road & Rail) | | | 583 | |
| | |
| | 90,252 | | | AusNet Services (Electric Utilities) | | | 119 | |
| | |
| | 86,394 | | | Australia & New Zealand Banking Group Ltd. (Banks) | | | 1,715 | |
| | |
| | 13,883 | | | Bank of Queensland Ltd. (Banks) | | | 93 | |
| | |
| | 16,668 | | | Bendigo & Adelaide Bank Ltd. (Banks) | | | 136 | |
| | |
| | 186,888 | | | BHP Billiton Ltd. (Metals & Mining) | | | 5,432 | |
| | |
| | 169,824 | | | BHP Group PLC (Metals & Mining) | | | 4,342 | |
| | |
| | 81,154 | | | Boral Ltd. (Construction Materials) | | | 293 | |
| | |
| | 49,488 | | | Coca-Cola Amatil Ltd. (Beverages) | | | 355 | |
| | |
| | 51,267 | | | Commonwealth Bank of Australia (Banks) | | | 2,982 | |
| | |
| | 31,092 | | | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | | | 272 | |
| | |
| | 78,192 | | | GPT Group (Equity Real Estate Investment Trusts) | | | 338 | |
| | |
| | 54,232 | | | Harvey Norman Holdings Ltd. (Multiline Retail) | | | 155 | |
| | |
| | 69,523 | | | Insurance Australia Group Ltd. (Insurance) | | | 404 | |
| | |
| | 6,392 | | | Macquarie Group Ltd. (Capital Markets) | | | 564 | |
| | |
| | 76,602 | | | National Australia Bank Ltd. (Banks) | | | 1,439 | |
| | |
| | 214,942 | | | Scentre Group (Equity Real Estate Investment Trusts) | | | 579 | |
| | |
| | 335,808 | | | South32 Ltd. (Metals & Mining) | | | 753 | |
| | |
| | 103,342 | | | Stockland Trust Group (Equity Real Estate Investment Trusts) | | | 303 | |
| | |
| | 38,707 | | | Suncorp Group Ltd. (Insurance) | | | 366 | |
| | |
| | 151,797 | | | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | | | 474 | |
| | |
| | 171,215 | | | Transurban Group (Transportation Infrastructure) | | | 1,772 | |
| | |
| | 141,014 | | | Vicinity Centres (Equity Real Estate Investment Trusts) | | | 243 | |
| | |
| | 76,509 | | | Wesfarmers Ltd. (Food & Staples Retailing) | | | 1,944 | |
| | |
| | 98,913 | | | Westpac Banking Corp. (Banks) | | | 1,970 | |
| | |
| | 61,396 | | | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | | | 1,574 | |
| | | | | | | | |
| | | | | | | 30,280 | |
| | | | | | | | |
| |
| | | | Austria — 0.13% | |
| | |
| | 4,893 | | | ANDRITZ AG (Machinery) | | | 184 | |
| | |
| | 7,439 | | | Erste Group Bank AG (Banks) | | | 276 | |
| | |
| | 9,798 | | | OMV AG (Oil, Gas & Consumable Fuels) | | | 478 | |
| | |
| | 7,611 | | | Voestalpine AG (Metals & Mining) | | | 235 | |
| | | | | | | | |
| | | | | | | 1,173 | |
| | | | | | | | |
| |
| | | | Belgium — 0.40% | |
| | |
| | 3,145 | | | Ageas (Insurance) | | | 164 | |
| | |
| | 31,713 | | | Anheuser-Busch InBev N.V. (Beverages) | | | 2,805 | |
| | |
| | 4,452 | | | Belgacom SA (Diversified Telecommunication Services) | | | 132 | |
| | |
| | 3,954 | | | KBC Groep N.V. (Banks) | | | 259 | |
| | |
| | 2,531 | | | Solvay SA (Chemicals) | | | 263 | |
| | | | | | | | |
| | | | | | | 3,623 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Bermuda — 0.02% | |
| | |
| | 57,667 | | | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | | $ | 158 | |
| | | | | | | | |
| |
| | | | Brazil — 0.54% | |
| | |
| | 83,095 | | | B3 SA – Brasil Bolsa Balcao (Capital Markets) | | | 811 | |
| | |
| | 264,667 | | | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) | | | 4,121 | |
| | | | | | | | |
| | | | | | | 4,932 | |
| | | | | | | | |
| |
| | | | Canada — 2.48% | |
| | |
| | 32,983 | | | Canadian Imperial Bank of Commerce (Banks) | | | 2,594 | |
| | |
| | 17,450 | | | Canadian National Railway Co. (Road & Rail) | | | 1,613 | |
| | |
| | 4,347 | | | Canadian Pacific Railway Ltd. (Road & Rail) | | | 1,023 | |
| | |
| | 24,509 | | | Dollarama, Inc. (Multiline Retail) | | | 862 | |
| | |
| | 919,403 | | | Encana Corp. (Oil, Gas & Consumable Fuels) | | | 4,718 | |
| | |
| | 182,960 | | | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | | | 7,082 | |
| | |
| | 259,059 | | | Manulife Financial Corp. (Insurance) | | | 4,709 | |
| | | | | | | | |
| | | | | | | 22,601 | |
| | | | | | | | |
| |
| | | | Cayman Islands — 0.02% | |
| | |
| | 27,000 | | | Anta Sports Products Ltd. (Textiles, Apparel & Luxury Goods) | | | 186 | |
| | | | | | | | |
| |
| | | | China — 1.89% | |
| | |
| | 26,849 | | | Baidu, Inc., ADR (Interactive Media & Services) (a) | | | 3,151 | |
| | |
| | 1,216,000 | | | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | | | 2,069 | |
| | |
| | 1,152,150 | | | China Mobile Ltd. (Wireless Telecommunication Services) | | | 10,490 | |
| | |
| | 10,683 | | | Kweichow Moutai Co. Ltd. (Beverages) | | | 1,534 | |
| | | | | | | | |
| | | | | | | 17,244 | |
| | | | | | | | |
| |
| | | | Denmark — 1.21% | |
| | |
| | 1,496 | | | Carlsberg A/S, Class – B (Beverages) | | | 199 | |
| | |
| | 22,012 | | | Danske Bank A/S (Banks) | | | 349 | |
| | |
| | 20,993 | | | Genmab A/S (Biotechnology) (a) | | | 3,861 | |
| | |
| | 13,942 | | | ISS A/S (Commercial Services & Supplies) | | | 422 | |
| | |
| | 112,251 | | | Novo Nordisk A/S, Class – B (Pharmaceuticals) | | | 5,734 | |
| | |
| | 9,131 | | | Pandora A/S (Textiles, Apparel & Luxury Goods) | | | 325 | |
| | |
| | 4,141 | | | Tryg A/S (Insurance) | | | 135 | |
| | | | | | | | |
| | | | | | | 11,025 | |
| | | | | | | | |
| |
| | | | Finland — 0.66% | |
| | |
| | 58,902 | | | Fortum Oyj (Electric Utilities) | | | 1,301 | |
| | |
| | 12,455 | | | Nokian Renkaat Oyj (Auto Components) | | | 389 | |
| | |
| | 137,844 | | | Nordea Bank Abp (Banks) | | | 1,001 | |
| | |
| | 10,438 | | | Orion Oyj, Class – B (Pharmaceuticals) | | | 383 | |
| | |
| | 16,954 | | | Sampo Oyj, Class – A (Insurance) | | | 800 | |
| | |
| | 58,311 | | | Stora Enso Oyj, R Shares (Paper & Forest Products) | | | 686 | |
| | |
| | 53,499 | | | UPM-Kymmene Oyj (Paper & Forest Products) | | | 1,424 | |
| | | | | | | | |
| | | | | | | 5,984 | |
| | | | | | | | |
See accompanying notes to financial statements.
167
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | France — 8.23% | |
| | |
| | 42,915 | | | Air Liquide SA (Chemicals) | | $ | 6,001 | |
| | |
| | 17,532 | | | Amundi SA (Capital Markets) | | | 1,224 | |
| | |
| | 1,292 | | | Atos SE (IT Services) | | | 108 | |
| | |
| | 57,207 | | | AXA SA (Insurance) | | | 1,502 | |
| | |
| | 262,234 | | | BNP Paribas (Banks) | | | 12,428 | |
| | |
| | 17,286 | | | Bouygues SA (Construction & Engineering) | | | 640 | |
| | |
| | 8,454 | | | Capgemini SE (IT Services) | | | 1,051 | |
| | |
| | 184,049 | | | Carrefour SA (Food & Staples Retailing)^ | | | 3,553 | |
| | |
| | 4,132 | | | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | | | 141 | |
| | |
| | 4,969 | | | CNP Assurances (Insurance) | | | 113 | |
| | |
| | 39,078 | | | Compagnie de Saint-Gobain (Building Products) | | | 1,526 | |
| | |
| | 13,154 | | | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | | | 1,662 | |
| | |
| | 33,188 | | | Credit Agricole SA (Banks) | | | 396 | |
| | |
| | 19,803 | | | Danone SA (Food Products) | | | 1,676 | |
| | |
| | 23,104 | | | Eiffage SA (Construction & Engineering) (b) | | | 2,283 | |
| | |
| | 24,007 | | | Electricite de France SA (Electric Utilities) | | | 303 | |
| | |
| | 72,610 | | | ENGIE (Multi-Utilities) | | | 1,101 | |
| | |
| | 12,789 | | | Eutelsat Communications (Media) | | | 239 | |
| | |
| | 1,927 | | | Fonciere des Regions (Equity Real Estate Investment Trusts) | | | 202 | |
| | |
| | 1,811 | | | Gecina SA (Equity Real Estate Investment Trusts) | | | 271 | |
| | |
| | 1,503 | | | Icade (Equity Real Estate Investment Trusts) | | | 138 | |
| | |
| | 2,827 | | | Imerys SA (Construction Materials) | | | 150 | |
| | |
| | 22,337 | | | Ingenico Group SA (Electronic Equipment, Instruments & Components) | | | 1,976 | |
| | |
| | 8,149 | | | Klepierre (Equity Real Estate Investment Trusts) | | | 273 | |
| | |
| | 25,383 | | | Natixism SA (Capital Markets) | | | 102 | |
| | |
| | 80,484 | | | Orange SA (Diversified Telecommunication Services) | | | 1,269 | |
| | |
| | 45,732 | | | Peugeot SA (Automobiles) | | | 1,125 | |
| | |
| | 15,066 | | | Publicis Groupe (Media)^ | | | 795 | |
| | |
| | 2,618 | | | Renault SA (Automobiles) | | | 165 | |
| | |
| | 11,616 | | | Safran SA (Aerospace & Defense) | | | 1,699 | |
| | |
| | 71,909 | | | Sanofi-Aventis (Pharmaceuticals) | | | 6,213 | |
| | |
| | 51,802 | | | Schneider Electric SA (Electrical Equipment) | | | 4,686 | |
| | |
| | 4,840 | | | SCOR SE (Insurance) | | | 212 | |
| | |
| | 2,081 | | | Societe BIC SA (Commercial Services & Supplies)^ | | | 158 | |
| | |
| | 14,849 | | | Suez Environnement Co. (Multi-Utilities) | | | 214 | |
| | |
| | 269,491 | | | Total SA (Oil, Gas & Consumable Fuels) | | | 15,113 | |
| | |
| | 5,535 | | | Unibail-Rodamco-Westfield (Equity Real Estate Investment Trusts) | | | 828 | |
| | |
| | 2,908 | | | Valeo SA (Auto Components) | | | 95 | |
| | |
| | 21,042 | | | Veolia Environnement (Multi-Utilities) | | | 512 | |
| | |
| | 27,392 | | | Vinci SA (Construction & Engineering) | | | 2,796 | |
| | | | | | | | |
| | | | | | | 74,939 | |
| | | | | | | | |
| |
| | | | Germany — 10.07% | |
| | |
| | 3,866 | | | Adidas AG (Textiles, Apparel & Luxury Goods) | | | 1,196 | |
| | |
| | 28,621 | | | Allianz SE (Insurance) | | | 6,901 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Germany (continued) | |
| | |
| | 21,802 | | | Aroundtown SA (Real Estate Management & Development) | | $ | 180 | |
| | |
| | 2,106 | | | Axel Springer AG (Media) | | | 148 | |
| | |
| | 212,708 | | | BASF SE (Chemicals) | | | 15,470 | |
| | |
| | 3,474 | | | Bayer AG (Pharmaceuticals) | | | 241 | |
| | |
| | 5,215 | | | Bayerische Motoren Werke AG (Automobiles) | | | 385 | |
| | |
| | 10,560 | | | Beiersdorf AG (Personal Products) | | | 1,266 | |
| | |
| | 5,963 | | | Continental AG (Auto Components) | | | 868 | |
| | |
| | 852 | | | Covestro AG (Chemicals) | | | 43 | |
| | |
| | 49,274 | | | Daimler AG, Registered Shares (Automobiles) | | | 2,747 | |
| | |
| | 83,210 | | | Deutsche Boerse AG (Capital Markets) | | | 11,744 | |
| | |
| | 12,942 | | | Deutsche Lufthansa AG, Registered Shares (Airlines) | | | 222 | |
| | |
| | 443,012 | | | Deutsche Post AG (Air Freight & Logistics) | | | 14,570 | |
| | |
| | 90,196 | | | Deutsche Telekom AG (Diversified Telecommunication Services) | | | 1,562 | |
| | |
| | 1,842 | | | Drillisch AG (Wireless Telecommunication Services) | | | 61 | |
| | |
| | 59,970 | | | E.ON AG (Multi-Utilities) | | | 651 | |
| | |
| | 9,995 | | | Evonik Industries AG (Chemicals) | | | 291 | |
| | |
| | 8,463 | | | GEA Group AG (Machinery) | | | 240 | |
| | |
| | 1,274 | | | Hannover Rueckversicherung AG (Insurance) | | | 206 | |
| | |
| | 7,955 | | | HeidelbergCement AG (Construction Materials) | | | 644 | |
| | |
| | 3,359 | | | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | | | 224 | |
| | |
| | 9,188 | | | Metro AG (Food & Staples Retailing) | | | 168 | |
| | |
| | 2,993 | | | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | | | 750 | |
| | |
| | 96,897 | | | SAP SE (Software) | | | 13,280 | |
| | |
| | 33,979 | | | Siemens AG (Industrial Conglomerates) | | | 4,044 | |
| | |
| | 23,570 | | | Symrise AG (Chemicals) | | | 2,269 | |
| | |
| | 22,288 | | | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | | | 62 | |
| | |
| | 8,532 | | | TUI AG (Hotels, Restaurants & Leisure) | | | 84 | |
| | |
| | 5,247 | | | Uniper SE (Independent Power and Renewable Electricity Producers) | | | 159 | |
| | |
| | 1,771 | | | Volkswagen AG (Automobiles) | | | 304 | |
| | |
| | 63,945 | | | Wirecard AG (IT Services) | | | 10,792 | |
| | | | | | | | |
| | | | | | | 91,772 | |
| | | | | | | | |
| |
| | | | Hong Kong — 2.34% | |
| | |
| | 774,680 | | | AIA Group Ltd. (Insurance) (b) | | | 8,366 | |
| | |
| | 23,000 | | | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | | | 236 | |
| | |
| | 98,555 | | | BOC Hong Kong (Holdings) Ltd. (Banks) | | | 388 | |
| | |
| | 334,000 | | | China Common Rich Renewable Energy Investment Ltd. (Independent Power and Renewable Electricity Producers) (a) | | | — | |
| | |
| | 92,500 | | | CK Asset Holdings Ltd. (Real Estate Management & Development) | | | 725 | |
| | |
| | 163,500 | | | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | | | 1,613 | |
| | |
| | 24,000 | | | CK Infrastructure Holdings Ltd. (Electric Utilities) | | | 196 | |
| | |
| | 63,093 | | | CLP Holdings Ltd. (Electric Utilities) | | | 695 | |
| | |
| | 84,675 | | | Hang Lung Properties Ltd. (Real Estate Management & Development) | | | 201 | |
| | |
| | 20,506 | | | Hang Seng Bank Ltd. (Banks) | | | 510 | |
See accompanying notes to financial statements.
168
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Hong Kong (continued) | |
| | |
| | 66,619 | | | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | | $ | 367 | |
| | |
| | 108,073 | | | HK Electric Investments Ltd. (Electric Utilities) | | | 111 | |
| | |
| | 143,000 | | | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | | | 227 | |
| | |
| | 43,200 | | | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | | | 278 | |
| | |
| | 25,000 | | | Hysan Development Co. (Real Estate Management & Development) | | | 129 | |
| | |
| | 28,500 | | | Kerry Properties Ltd. (Real Estate Management & Development) | | | 120 | |
| | |
| | 234,483 | | | New World Development Co. Ltd. (Real Estate Management & Development) | | | 367 | |
| | |
| | 95,000 | | | NWS Holdings Ltd. (Industrial Conglomerates) | | | 195 | |
| | |
| | 181,000 | | | PCCW Ltd. (Diversified Telecommunication Services) | | | 104 | |
| | |
| | 50,224 | | | Power Assets Holdings Ltd. (Electric Utilities) | | | 361 | |
| | |
| | 211,600 | | | Sands China Ltd. (Hotels, Restaurants & Leisure) | | | 1,011 | |
| | |
| | 131,205 | | | Sino Land Co. Ltd. (Real Estate Management & Development) | | | 220 | |
| | |
| | 57,256 | | | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | | | 972 | |
| | |
| | 15,000 | | | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | | | 184 | |
| | |
| | 35,000 | | | The Bank of East Asia Ltd. (Banks) | | | 98 | |
| | |
| | 76,917 | | | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 947 | |
| | |
| | 58,000 | | | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | | | 154 | |
| | |
| | 711,500 | | | WH Group Ltd. (Food Products) | | | 722 | |
| | |
| | 36,000 | | | Wharf Real Estate Investment Co. Ltd. (Real Estate Management & Development) | | | 254 | |
| | |
| | 32,000 | | | Wheelock & Co. Ltd. (Real Estate Management & Development) | | | 230 | |
| | |
| | 611,600 | | | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | | | 1,369 | |
| | | | | | | | |
| | | | | | | 21,350 | |
| | | | | | | | |
| |
| | | | Indonesia — 0.07% | |
| | |
| | 2,094,700 | | | PT Bank Rakyat Indonesia Persero Tbk (Banks) | | | 647 | |
| | | | | | | | |
| |
| | | | Ireland (Republic of) — 1.45% | |
| | |
| | 13,125 | | | AIB Group PLC (Banks) | | | 54 | |
| | |
| | 13,014 | | | Bank of Ireland Group PLC (Banks) | | | 68 | |
| | |
| | 29,649 | | | CRH PLC (Construction Materials) | | | 969 | |
| | |
| | 75,339 | | | Experian PLC (Professional Services) | | | 2,282 | |
| | |
| | 60,256 | | | Medtronic PLC (Health Care Equipment & Supplies) | | | 5,868 | |
| | |
| | 3,017 | | | Paddy Power PLC (Hotels, Restaurants & Leisure) | | | 227 | |
| | |
| | 54,839 | | | Ryanair Holdings PLC, ADR (Airlines) (a) | | | 3,517 | |
| | |
| | 8,333 | | | Smurfit Kappa Group PLC (Containers & Packaging) | | | 252 | |
| | | | | | | | |
| | | | | | | 13,237 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Isle of Man — 0.04% | |
| | |
| | 47,586 | | | GVC Holdings PLC (Hotels, Restaurants & Leisure) | | $ | 394 | |
| | | | | | | | |
| |
| | | | Israel — 0.23% | |
| | |
| | 2,052 | | | Azrieli Group (Real Estate Management & Development) | | | 138 | |
| | |
| | 45,682 | | | Bank Leumi Le (Banks) | | | 330 | |
| | |
| | 1,148 | | | Elbit Systems Ltd. (Aerospace & Defense) | | | 171 | |
| | |
| | 120,716 | | | Israel Chemicals Ltd. (Chemicals) | | | 636 | |
| | |
| | 21,525 | | | Israel Discount Bank, Class – A (Banks) | | | 88 | |
| | |
| | 5,087 | | | Nice Systems Ltd., ADR (Software) (a) | | | 697 | |
| | | | | | | | |
| | | | | | | 2,060 | |
| | | | | | | | |
| |
| | | | Italy — 2.67% | |
| | |
| | 129,093 | | | Assicurazioni Generali SpA (Insurance) | | | 2,430 | |
| | |
| | 258,256 | | | Enel SpA (Electric Utilities) | | | 1,801 | |
| | |
| | 161,152 | | | Eni SpA (Oil, Gas & Consumable Fuels) | | | 2,679 | |
| | |
| | 1,620,174 | | | Intesa Sanpaolo SpA (Banks) | | | 3,468 | |
| | |
| | 15,272 | | | Mediobanca SpA (Banks) | | | 157 | |
| | |
| | 12,785 | | | Poste Italiane SpA (Insurance) | | | 135 | |
| | |
| | 140,738 | | | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | | | 700 | |
| | |
| | 220,955 | | | Telecom Italia SpA (Diversified Telecommunication Services) | | | 115 | |
| | |
| | 46,431 | | | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | | | 296 | |
| | |
| | 1,016,286 | | | Unicredit SpA (Banks) | | | 12,505 | |
| | | | | | | | |
| | | | | | | 24,286 | |
| | | | | | | | |
| |
| | | | Japan — 15.28% | |
| | |
| | 2,861 | | | AEON Credit Service Co. Ltd. (Consumer Finance) | | | 46 | |
| | |
| | 11,100 | | | Aisin Seiki Co. Ltd. (Auto Components) | | | 383 | |
| | |
| | 15,700 | | | ALPS Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 266 | |
| | |
| | 23,000 | | | Amada Holdings Co. Ltd. (Machinery) | | | 260 | |
| | |
| | 3,416 | | | Aozora Bank Ltd. (Banks) | | | 82 | |
| | |
| | 12,645 | | | Asahi Glass Co. Ltd. (Building Products) | | | 439 | |
| | |
| | 86,900 | | | Asahi Kasei Corp. (Chemicals) | | | 930 | |
| | |
| | 41,911 | | | Bridgestone Corp. (Auto Components)^ | | | 1,653 | |
| | |
| | 16,400 | | | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | | | 311 | |
| | |
| | 5,400 | | | CALBEE, Inc. (Food Products) | | | 146 | |
| | |
| | 68,910 | | | Canon, Inc. (Technology Hardware, Storage & Peripherals)^ | | | 2,018 | |
| | |
| | 14,600 | | | Casio Computer Co. Ltd. (Household Durables) | | | 182 | |
| | |
| | 700 | | | Century Tokyo Leasing Corp. (Diversified Financial Services) | | | 30 | |
| | |
| | 22,300 | | | Chubu Electric Power Company, Inc. (Electric Utilities) | | | 312 | |
| | |
| | 37,700 | | | Coca-Cola West Co. Ltd. (Beverages) | | | 956 | |
| | |
| | 29,000 | | | Concordia Financial Group Ltd. (Banks) | | | 108 | |
| | |
| | 2,800 | | | Credit Saison Co. Ltd. (Consumer Finance) | | | 33 | |
| | |
| | 16,888 | | | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | | | 361 | |
| | |
| | 19,000 | | | Daicel Corp. (Chemicals) | | | 169 | |
| | |
| | 2,479 | | | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | | | 316 | |
See accompanying notes to financial statements.
169
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 19,650 | | | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | | $ | 575 | |
| | |
| | 61 | | | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | | | 147 | |
| | |
| | 30,800 | | | Daiwa Securities Group, Inc. (Capital Markets) | | | 135 | |
| | |
| | 29,800 | | | Denso Corp. (Auto Components) | | | 1,256 | |
| | |
| | 7,500 | | | Dentsu, Inc. (Media) | | | 262 | |
| | |
| | 79,800 | | | East Japan Railway Co. (Road & Rail) | | | 7,473 | |
| | |
| | 5,700 | | | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | | | 130 | |
| | |
| | 64,300 | | | Fanuc Ltd. (Machinery) | | | 11,949 | |
| | |
| | 2,698 | | | Fuji Heavy Industries Ltd. (Automobiles) | | | 66 | |
| | |
| | 27,500 | | | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 1,396 | |
| | |
| | 13,600 | | | Fujitsu Ltd. (IT Services) | | | 950 | |
| | |
| | 4,277 | | | Fukuoka Financial Group, Inc. (Banks) | | | 78 | |
| | |
| | 19,500 | | | Hino Motors Ltd. (Machinery) | | | 165 | |
| | |
| | 2,300 | | | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 257 | |
| | |
| | 7,600 | | | Hitachi Construction Machinery Co. Ltd. (Machinery) | | | 199 | |
| | |
| | 4,800 | | | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | | | 247 | |
| | |
| | 67,900 | | | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | | | 2,498 | |
| | |
| | 15,200 | | | Hitachi Metals Ltd. (Metals & Mining) | | | 172 | |
| | |
| | 111,941 | | | Honda Motor Co. Ltd. (Automobiles) | | | 2,895 | |
| | |
| | 10,800 | | | Hulic Co. Ltd. (Real Estate Management & Development) | | | 87 | |
| | |
| | 13,240 | | | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 400 | |
| | |
| | 11,000 | | | Iida Group Holdings Co. Ltd. (Household Durables) | | | 178 | |
| | |
| | 37,100 | | | Isuzu Motors Ltd. (Automobiles) | | | 424 | |
| | |
| | 99,217 | | | ITOCHU Corp. (Trading Companies & Distributors) | | | 1,901 | |
| | |
| | 16,600 | | | J. Front Retailing Co. Ltd. (Multiline Retail) | | | 191 | |
| | |
| | 20,300 | | | Japan Airlines Co. Ltd. (Airlines) | | | 648 | |
| | |
| | 78,300 | | | Japan Exchange Group, Inc. (Capital Markets) | | | 1,247 | |
| | |
| | 12,300 | | | Japan Post Bank Co. Ltd. (Banks) | | | 125 | |
| | |
| | 40,700 | | | Japan Post Holdings Co. Ltd. (Insurance) | | | 461 | |
| | |
| | 29 | | | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | | | 126 | |
| | |
| | 46 | | | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | | | 280 | |
| | |
| | 98 | | | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | | | 198 | |
| | |
| | 82,500 | | | Japan Tobacco, Inc. (Tobacco)^ | | | 1,819 | |
| | |
| | 18,179 | | | JS Group Corp. (Building Products) | | | 288 | |
| | |
| | 13,554 | | | JSR Corp. (Chemicals) | | | 215 | |
| | |
| | 14,700 | | | JTEKT Corp. (Machinery) | | | 179 | |
| | |
| | 227,857 | | | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 1,136 | |
| | |
| | 31,000 | | | Kajima Corp. (Construction & Engineering) | | | 426 | |
| | |
| | 10,200 | | | Kawasaki Heavy Industries Ltd. (Machinery) | | | 241 | |
| | |
| | 434,800 | | | KDDI Corp. (Wireless Telecommunication Services) | | | 11,066 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 62,745 | | | Komatsu Ltd. (Machinery) | | $ | 1,524 | |
| | |
| | 32,800 | | | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | | | 320 | |
| | |
| | 22,884 | | | Kuraray Co. Ltd. (Chemicals)^ | | | 274 | |
| | |
| | 22,400 | | | Kyocera Corp. (Electronic Equipment, Instruments & Components) | | | 1,468 | |
| | |
| | 13,200 | | | Kyushu Electric Power Co., Inc. (Electric Utilities) | | | 130 | |
| | |
| | 11,200 | | | Kyushu Railway Co. (Road & Rail) | | | 327 | |
| | |
| | 4,094 | | | Lawson, Inc. (Food & Staples Retailing) | | | 197 | |
| | |
| | 107,516 | | | Marubeni Corp. (Trading Companies & Distributors) | | | 714 | |
| | |
| | 3,987 | | | Maruichi Steel Tube Ltd. (Metals & Mining) | | | 111 | |
| | |
| | 39,600 | | | Mazda Motor Corp. (Automobiles) | | | 410 | |
| | |
| | 30,800 | | | Mebuki Financial Group, Inc. (Banks) | | | 80 | |
| | |
| | 87,600 | | | Mitsubishi Chemical Holdings Corp. (Chemicals) | | | 613 | |
| | |
| | 93,745 | | | Mitsubishi Corp. (Trading Companies & Distributors) | | | 2,477 | |
| | |
| | 125,700 | | | Mitsubishi Electric Corp. (Electrical Equipment) | | | 1,662 | |
| | |
| | 11,600 | | | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | | | 155 | |
| | |
| | 22,200 | | | Mitsubishi Heavy Industries Ltd. (Machinery) | | | 968 | |
| | |
| | 7,300 | | | Mitsubishi Materials Corp. (Metals & Mining) | | | 208 | |
| | |
| | 18,426 | | | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | | | 205 | |
| | |
| | 315,105 | | | Mitsubishi UFJ Financial Group, Inc. (Banks) | | | 1,501 | |
| | |
| | 9,100 | | | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | | | 48 | |
| | |
| | 113,988 | | | Mitsui & Co. Ltd. (Trading Companies & Distributors) | | | 1,861 | |
| | |
| | 13,100 | | | Mitsui Chemicals, Inc. (Chemicals) | | | 326 | |
| | |
| | 627,777 | | | Mizuho Financial Group, Inc. (Banks) | | | 913 | |
| | |
| | 12,300 | | | MS&AD Insurance Group Holdings, Inc. (Insurance) | | | 391 | |
| | |
| | 39,700 | | | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 1,788 | |
| | |
| | 7,900 | | | Nabtesco Corp. (Machinery) | | | 221 | |
| | |
| | 18,100 | | | NEC Corp. (Technology Hardware, Storage & Peripherals) | | | 714 | |
| | |
| | 18,600 | | | NGK Insulators Ltd. (Machinery) | | | 272 | |
| | |
| | 23,200 | | | Nikon Corp. (Household Durables) | | | 330 | |
| | |
| | 47 | | | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | | | 323 | |
| | |
| | 6,284 | | | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components)^ | | | 160 | |
| | |
| | 5,400 | | | Nippon Express Co. Ltd. (Road & Rail) | | | 288 | |
| | |
| | 66 | | | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | | | 152 | |
| | |
| | 44,500 | | | Nippon Shinyaku Co. Ltd. (Pharmaceuticals) | | | 3,151 | |
| | |
| | 4,300 | | | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | | | 74 | |
| | |
| | 23,600 | | | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | | | 1,100 | |
| | |
| | 23,381 | | | Nissan Motor Co. Ltd. (Automobiles) | | | 167 | |
| | |
| | 11,300 | | | Nitto Denko Corp. (Chemicals) | | | 559 | |
| | |
| | 4,811 | | | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | | | 104 | |
| | |
| | 139 | | | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | | | 214 | |
| | |
| | 24,300 | | | Nomura Research Institute Ltd. (IT Services) | | | 391 | |
See accompanying notes to financial statements.
170
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 25,800 | | | NSK Ltd. (Machinery) | | $ | 231 | |
| | |
| | 46,025 | | | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | | | 1,074 | |
| | |
| | 43,800 | | | Obayashi Corp. (Construction & Engineering) | | | 433 | |
| | |
| | 13,100 | | | OMRON Corp. (Electronic Equipment, Instruments & Components) | | | 687 | |
| | |
| | 23,000 | | | ORIX Corp. (Diversified Financial Services) | | | 344 | |
| | |
| | 12,842 | | | Osaka Gas Co. Ltd. (Gas Utilities) | | | 224 | |
| | |
| | 27,400 | | | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | | | 895 | |
| | |
| | 6,500 | | | Panasonic Corp. (Household Durables) | | | 54 | |
| | |
| | 8,500 | | | Park24 Co. Ltd. (Commercial Services & Supplies) | | | 198 | |
| | |
| | 6,500 | | | Pola Orbis Holdings, Inc. (Personal Products) | | | 182 | |
| | |
| | 55,538 | | | Resona Holdings, Inc. (Banks) | | | 232 | |
| | |
| | 46,383 | | | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 464 | |
| | |
| | 6,300 | | | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 425 | |
| | |
| | 3,715 | | | Sankyo Co. Ltd. (Leisure Products) | | | 135 | |
| | |
| | 4,500 | | | SBI Holdings, Inc. (Capital Markets) | | | 112 | |
| | |
| | 13,200 | | | Sega Sammy Holdings, Inc. (Leisure Products) | | | 160 | |
| | |
| | 19,196 | | | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | | | 304 | |
| | |
| | 25,200 | | | Sekisui Chemical Co. Ltd. (Household Durables) | | | 379 | |
| | |
| | 42,952 | | | Sekisui House Ltd. (Household Durables) | | | 709 | |
| | |
| | 52,600 | | | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | | | 1,782 | |
| | |
| | 19,700 | | | Seven Bank Ltd. (Banks) | | | 52 | |
| | |
| | 1,500 | | | Shimamura Co. Ltd. (Specialty Retail) | | | 112 | |
| | |
| | 57,670 | | | Softbank Corp. (Wireless Telecommunication Services) | | | 749 | |
| | |
| | 146,700 | | | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | | | 5,675 | |
| | |
| | 5,408 | | | Sony Financial Holdings, Inc. (Insurance) | | | 130 | |
| | |
| | 102,500 | | | Sumitomo Chemical Co. Ltd. (Chemicals) | | | 477 | |
| | |
| | 80,686 | | | Sumitomo Corp. (Trading Companies & Distributors) | | | 1,226 | |
| | |
| | 51,700 | | | Sumitomo Electric Industries Ltd. (Auto Components) | | | 681 | |
| | |
| | 7,900 | | | Sumitomo Heavy Industries Ltd. (Machinery) | | | 273 | |
| | |
| | 16,000 | | | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | | | 480 | |
| | |
| | 177,548 | | | Sumitomo Mitsui Financial Group, Inc. (Banks) | | | 6,295 | |
| | |
| | 8,483 | | | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | | | 308 | |
| | |
| | 12,291 | | | Sumitomo Rubber Industries Ltd. (Auto Components) | | | 142 | |
| | |
| | 15,400 | | | T&D Holdings, Inc. (Insurance) | | | 168 | |
| | |
| | 14,500 | | | Taisei Corp. (Construction & Engineering) | | | 528 | |
| | |
| | 160,000 | | | Taiyo Nippon Sanso Corp. (Chemicals) | | | 3,408 | |
| | |
| | 194,100 | | | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 6,906 | |
| | |
| | 8,900 | | | TDK Corp. (Electronic Equipment, Instruments & Components) | | | 693 | |
| | |
| | 13,700 | | | Teijin Ltd. (Chemicals) | | | 234 | |
| | |
| | 16,400 | | | The Chiba Bank Ltd. (Banks) | | | 80 | |
| | |
| | 10,442 | | | The Chugoku Electric Power Company, Inc. (Electric Utilities) | | | 132 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 27,500 | | | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | | $ | 416 | |
| | |
| | 25,600 | | | The Kansai Electric Power Co., Inc. (Electric Utilities) | | | 294 | |
| | |
| | 13,900 | | | The Shizuoka Bank Ltd. (Banks) | | | 103 | |
| | |
| | 8,500 | | | The Yokohama Rubber Co. Ltd. (Auto Components)^ | | | 157 | |
| | |
| | 8,700 | | | THK Co. Ltd. (Machinery) | | | 209 | |
| | |
| | 16,000 | | | Tohoku Electric Power Co., Inc. (Electric Utilities) | | | 162 | |
| | |
| | 17,400 | | | Tokio Marine Holdings, Inc. (Insurance) | | | 873 | |
| | |
| | 10,600 | | | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | | | 1,490 | |
| | |
| | 21,400 | | | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) | | | 118 | |
| | |
| | 17,300 | | | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | | | 263 | |
| | |
| | 17,600 | | | Tosoh Corp. (Chemicals) | | | 248 | |
| | |
| | 4,600 | | | Toyoda Gosei Co. Ltd. (Auto Components) | | | 90 | |
| | |
| | 10,000 | | | Toyota Industries Corp. (Auto Components) | | | 552 | |
| | |
| | 84,300 | | | Toyota Motor Corp. (Automobiles) | | | 5,232 | |
| | |
| | 14,670 | | | Toyota Tsusho Corp. (Trading Companies & Distributors) | | | 446 | |
| | |
| | 8,827 | | | Trend Micro, Inc. (Software) | | | 394 | |
| | |
| | 107 | | | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | | | 179 | |
| | |
| | 15,400 | | | USS Co. Ltd. (Specialty Retail) | | | 305 | |
| | |
| | 193,300 | | | Yahoo Japan Corp. (Interactive Media & Services) | | | 569 | |
| | |
| | 44,600 | | | Yamada Denki Co. Ltd. (Specialty Retail) | | | 197 | |
| | |
| | 19,500 | | | Yamaha Motor Co. Ltd. (Automobiles)^ | | | 348 | |
| | |
| | 15,900 | | | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 313 | |
| | | | | | | | |
| | | | | | | 139,109 | |
| | | | | | | | |
| |
| | | | Jersey — 0.49% | |
| | |
| | 916,343 | | | Glencore International PLC (Metals & Mining) | | | 3,170 | |
| | |
| | 100,409 | | | WPP PLC (Media) | | | 1,265 | |
| | | | | | | | |
| | | | | | | 4,435 | |
| | | | | | | | |
| |
| | | | Luxembourg — 0.08% | |
| | |
| | 4,271 | | | Millicom International Cellular SA (Wireless Telecommunication Services) | | | 241 | |
| | |
| | 2,056 | | | RTL Group (Media) | | | 105 | |
| | |
| | 26,046 | | | SES – FDR, Class – A (Media) | | | 407 | |
| | | | | | | | |
| | | | | | | 753 | |
| | | | | | | | |
| |
| | | | Netherlands — 4.28% | |
| | |
| | 8,480 | | | ABN AMRO Group N.V. (Banks) | | | 181 | |
| | |
| | 2,392 | | | Adyen N.V. (IT Services) (a)(b) | | | 1,845 | |
| | |
| | 37,816 | | | AEGON N.V. (Insurance) | | | 188 | |
| | |
| | 56,321 | | | Airbus Group N.V. (Aerospace & Defense) | | | 7,969 | |
| | |
| | 82,511 | | | Akzo Nobel N.V. (Chemicals) | | | 7,751 | |
| | |
| | 4,112 | | | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | | | 855 | |
| | |
| | 878,600 | | | ING Groep N.V. (Banks) | | | 10,175 | |
| | |
| | 100,525 | | | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | | | 309 | |
| | |
| | 67,537 | | | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | | | 1,516 | |
See accompanying notes to financial statements.
171
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Netherlands (continued) | |
| | |
| | 23,566 | | | Koninklijke DSM N.V. (Chemicals) | | $ | 2,907 | |
| | |
| | 3,984 | | | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | | | 183 | |
| | |
| | 6,439 | | | NN Group N.V. (Insurance) | | | 259 | |
| | |
| | 6,693 | | | Randstad Holding N.V. (Professional Services) | | | 367 | |
| | |
| | 73,857 | | | Unilever N.V. (Personal Products) | | | 4,486 | |
| | | | | | | | |
| | | | | | | 38,991 | |
| | | | | | | | |
| |
| | | | New Zealand — 0.02% | |
| | |
| | 8,900 | | | Auckland International Airport Ltd. (Transportation Infrastructure) | | | 59 | |
| | |
| | 15,219 | | | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | | | 49 | |
| | |
| | 36,297 | | | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | | | 97 | |
| | | | | | | | |
| | | | | | | 205 | |
| | | | | | | | |
| |
| | | | Norway — 0.35% | |
| | |
| | 31,444 | | | DNB ASA (Banks) | | | 586 | |
| | |
| | 50,665 | | | Equinor ASA (Oil, Gas & Consumable Fuels) | | | 1,006 | |
| | |
| | 7,362 | | | Gjensidige Forsikring ASA (Insurance) | | | 148 | |
| | |
| | 34,364 | | | Marine Harvest ASA (Food Products) | | | 805 | |
| | |
| | 31,817 | | | Telenor ASA (Diversified Telecommunication Services) | | | 676 | |
| | | | | | | | |
| | | | | | | 3,221 | |
| | | | | | | | |
| |
| | | | Portugal — 0.10% | |
| | |
| | 240,824 | | | EDP – Energias de Portugal SA (Electric Utilities) | | | 915 | |
| | | | | | | | |
| |
| | | | Russia — 0.15% | |
| | |
| | 59,219 | | | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | | | 1,345 | |
| | | | | | | | |
| |
| | | | Singapore — 0.89% | |
| | |
| | 243,572 | | | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 562 | |
| | |
| | 251,744 | | | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | | | 404 | |
| | |
| | 245,815 | | | CapitaMall Trust (Equity Real Estate Investment Trusts) | | | 478 | |
| | |
| | 375,600 | | | ComfortDelGro Corp. Ltd. (Road & Rail) | | | 739 | |
| | |
| | 127,500 | | | DBS Group Holdings Ltd. (Banks) | | | 2,450 | |
| | |
| | 41,600 | | | Singapore Exchange Ltd. (Capital Markets) | | | 244 | |
| | |
| | 211,100 | | | Singapore Press Holdings Ltd. (Media) | | | 381 | |
| | |
| | 735,879 | | | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | | | 1,905 | |
| | |
| | 238,780 | | | Suntec REIT (Equity Real Estate Investment Trusts) | | | 343 | |
| | |
| | 51,200 | | | Venture Corp. Ltd. (Electronic Equipment, Instruments & Components) | | | 618 | |
| | | | | | | | |
| | | | | | | 8,124 | |
| | | | | | | | |
| |
| | | | South Korea — 2.00% | |
| | |
| | 196,935 | | | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 8,021 | |
| | |
| | 12,479 | | | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 1,720 | |
| | |
| | 37,793 | | | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | | | 8,480 | |
| | | | | | | | |
| | | | | | | 18,221 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Spain — 1.36% | |
| | |
| | 2,355 | | | Amadeus IT Holding SA, A Shares (IT Services) | | $ | 187 | |
| | |
| | 207,009 | | | Banco Bilbao Vizcaya Argentaria SA (Banks) | | | 1,154 | |
| | |
| | 505,673 | | | Banco Santander SA (Banks) | | | 2,343 | |
| | |
| | 38,049 | | | Bankia SA (Banks) | | | 90 | |
| | |
| | 1,224,991 | | | CaixaBank SA (Banks) | | | 3,512 | |
| | |
| | 38,597 | | | Corporacion Mapfre (Insurance) | | | 113 | |
| | |
| | 19,040 | | | Enagas (Oil, Gas & Consumable Fuels) | | | 508 | |
| | |
| | 13,348 | | | Endesa (Electric Utilities) | | | 343 | |
| | |
| | 12,652 | | | Gas Natural SDG SA (Gas Utilities) | | | 349 | |
| | |
| | 18,100 | | | Red Electrica Corp. (Electric Utilities) | | | 377 | |
| | |
| | 116,439 | | | Repsol SA (Oil, Gas & Consumable Fuels) | | | 1,827 | |
| | |
| | 195,763 | | | Telefonica SA (Diversified Telecommunication Services) | | | 1,609 | |
| | | | | | | | |
| | | | | | | 12,412 | |
| | | | | | | | |
| |
| | | | Sweden — 1.25% | |
| | |
| | 32,846 | | | Boliden AB (Metals & Mining) | | | 842 | |
| | |
| | 29,156 | | | Electrolux AB, B Shares (Household Durables) | | | 748 | |
| | |
| | 132,671 | | | Hennes & Mauritz AB, B Shares (Specialty Retail) | | | 2,358 | |
| | |
| | 7,255 | | | Kinnevik AB (Diversified Financial Services) | | | 189 | |
| | |
| | 73,898 | | | Skandinaviska Enskilda Banken AB, Class – A (Banks) | | | 685 | |
| | |
| | 41,148 | | | Skanska AB, B Shares (Construction & Engineering) | | | 744 | |
| | |
| | 45,854 | | | SKF AB, B Shares (Machinery) | | | 845 | |
| | |
| | 68,608 | | | Svenska Handelsbanken AB, A Shares (Banks) | | | 677 | |
| | |
| | 42,760 | | | Swedbank AB, A Shares (Banks) | | | 644 | |
| | |
| | 30,153 | | | Tele2 AB, B Shares (Wireless Telecommunication Services) | | | 441 | |
| | |
| | 172,669 | | | TeliaSonera AB (Diversified Telecommunication Services) | | | 766 | |
| | |
| | 156,210 | | | Volvo AB, B Shares (Machinery) | | | 2,482 | |
| | | | | | | | |
| | | | | | | 11,421 | |
| | | | | | | | |
| |
| | | | Switzerland — 8.63% | |
| | |
| | 764,859 | | | ABB Ltd., Registered Shares (Electrical Equipment) | | | 15,340 | |
| | |
| | 16,983 | | | Adecco SA, Registered Shares (Professional Services) | | | 1,021 | |
| | |
| | 2,012 | | | Baloise Holding AG, Registered Shares (Insurance) | | | 356 | |
| | |
| | 21,244 | | | Clariant AG (Chemicals) | | | 432 | |
| | |
| | 23,274 | | | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | | | 1,979 | |
| | |
| | 4,597 | | | Dufry AG (Specialty Retail) | | | 390 | |
| | |
| | 855 | | | EMS-Chemie Holding AG, Registered Shares (Chemicals) | | | 556 | |
| | |
| | 35,415 | | | Idorsia Ltd. (Biotechnology) (a)(b) | | | 811 | |
| | |
| | 6,015 | | | Julius Baer Group Ltd. (Capital Markets) | | | 268 | |
| | |
| | 5,802 | | | Kuehne & Nagel International Ltd. (Marine) | | | 862 | |
| | |
| | 51,800 | | | LafargeHolcim Ltd., Registered Shares (Construction Materials) | | | 2,534 | |
| | |
| | 8,831 | | | Lonza Group AG (Life Sciences Tools & Services) | | | 2,983 | |
| | |
| | 77,163 | | | Nestle SA (Food Products) | | | 7,991 | |
See accompanying notes to financial statements.
172
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Switzerland (continued) | |
| | |
| | 201,213 | | | Novartis AG, Registered Shares (Pharmaceuticals) | | $ | 18,377 | |
| | |
| | 1,083 | | | Pargesa Holding SA (Diversified Financial Services) | | | 84 | |
| | |
| | 498 | | | Partners Group Holding AG (Capital Markets) | | | 392 | |
| | |
| | 54,704 | | | Roche Holding AG (Pharmaceuticals) | | | 15,388 | |
| | |
| | 570 | | | SGS SA, Registered Shares (Professional Services) | | | 1,453 | |
| | |
| | 1,353 | | | Swiss Life Holding AG (Insurance) | | | 671 | |
| | |
| | 4,075 | | | Swiss Prime Site AG (Real Estate Management & Development) | | | 356 | |
| | |
| | 12,220 | | | Swiss Re AG (Insurance) | | | 1,242 | |
| | |
| | 1,384 | | | Swisscom AG (Diversified Telecommunication Services) | | | 695 | |
| | |
| | 4,302 | | | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | | | 233 | |
| | |
| | 3,125 | | | The Swatch Group AG, B Shares (Textiles, Apparel & Luxury Goods) | | | 896 | |
| | |
| | 102,664 | | | UBS Group AG (Capital Markets) | | | 1,221 | |
| | |
| | 6,054 | | | Zurich Financial Services AG (Insurance) | | | 2,108 | |
| | | | | | | | |
| | | | | | | 78,639 | |
| | | | | | | | |
| |
| | | | United Kingdom — 21.16% | |
| | |
| | 6,706 | | | Admiral Group PLC (Insurance) | | | 188 | |
| | |
| | 75,952 | | | Amcor Ltd. (Containers & Packaging) | | | 864 | |
| | |
| | 34,306 | | | Aon PLC (Insurance) | | | 6,620 | |
| | |
| | 125,904 | | | AstraZeneca PLC (Pharmaceuticals) | | | 10,291 | |
| | |
| | 24,832 | | | Aveva Group PLC (Software) | | | 1,274 | |
| | |
| | 1,179,264 | | | Aviva PLC (Insurance) | | | 6,245 | |
| | |
| | 262,698 | | | BAE Systems PLC (Aerospace & Defense) | | | 1,651 | |
| | |
| | 1,121,699 | | | Balfour Beatty PLC (Construction & Engineering) | | | 3,449 | |
| | |
| | 5,253,854 | | | Barclays PLC (Banks) | | | 9,991 | |
| | |
| | 83,164 | | | Barratt Developments PLC (Household Durables) | | | 605 | |
| | |
| | 2,206,842 | | | BP PLC (Oil, Gas & Consumable Fuels) | | | 15,371 | |
| | |
| | 147,940 | | | British American Tobacco PLC (Tobacco) | | | 5,165 | |
| | |
| | 41,279 | | | British Land Co. PLC (Equity Real Estate Investment Trusts) | | | 282 | |
| | |
| | 352,230 | | | BT Group PLC (Diversified Telecommunication Services) | | | 881 | |
| | |
| | 50,540 | | | Carnival PLC (Hotels, Restaurants & Leisure) | | | 2,224 | |
| | |
| | 229,226 | | | Centrica PLC (Multi-Utilities) | | | 255 | |
| | |
| | 2,604,705 | | | Cobham PLC (Aerospace & Defense) (a) | | | 3,525 | |
| | |
| | 46,031 | | | Direct Line Insurance Group PLC (Insurance) | | | 194 | |
| | |
| | 13,138 | | | easyJet PLC (Airlines) | | | 159 | |
| | |
| | 316 | | | Ferguson PLC (Trading Companies & Distributors) | | | 22 | |
| | |
| | 126,291 | | | G4S PLC (Commercial Services & Supplies) | | | 334 | |
| | |
| | 332,231 | | | GlaxoSmithKline PLC (Pharmaceuticals) | | | 6,658 | |
| | |
| | 615,694 | | | HSBC Holdings PLC (Banks) | | | 5,138 | |
| | |
| | 13,823 | | | Imperial Tobacco Group PLC (Tobacco) | | | 324 | |
| | |
| | 15,206 | | | Investec PLC (Capital Markets) | | | 99 | |
| | |
| | 300,023 | | | ITV PLC (Media) | | | 411 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 145,090 | | | J Sainsbury PLC (Food & Staples Retailing) | | $ | 360 | |
| | |
| | 55,154 | | | John Wood Group PLC (Energy Equipment & Services) | | | 318 | |
| | |
| | 88,763 | | | Johnson Matthey PLC (Chemicals) | | | 3,752 | |
| | |
| | 176,189 | | | Kingfisher PLC (Specialty Retail) | | | 480 | |
| | |
| | 31,317 | | | Land Securities Group PLC (Equity Real Estate Investment Trusts) | | | 332 | |
| | |
| | 182,460 | | | Legal & General Group PLC (Insurance) | | | 625 | |
| | |
| | 122,661 | | | Linde PLC (Chemicals) | | | 24,631 | |
| | |
| | 7,010,515 | | | Lloyds Banking Group PLC (Banks) | | | 5,034 | |
| | |
| | 51,125 | | | London Stock Exchange Group (Capital Markets) | | | 3,562 | |
| | |
| | 169,492 | | | Marks & Spencer Group PLC (Multiline Retail) | | | 453 | |
| | |
| | 202,846 | | | Micro Focus International PLC (Software) | | | 5,334 | |
| | |
| | 150,131 | | | National Grid PLC (Multi-Utilities) | | | 1,597 | |
| | |
| | 26,927 | | | Persimmon PLC (Household Durables) | | | 684 | |
| | |
| | 532,898 | | | Prudential PLC (Insurance) | | | 11,631 | |
| | |
| | 141,604 | | | RELX PLC (Professional Services) | | | 3,434 | |
| | |
| | 90,973 | | | Rentokil Initial PLC (Commercial Services & Supplies) | | | 459 | |
| | |
| | 104,480 | | | Rio Tinto PLC (Metals & Mining) | | | 6,465 | |
| | |
| | 800,162 | | | Rolls-Royce Holdings PLC (Aerospace & Defense) | | | 8,546 | |
| | |
| | 142,946 | | | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | | | 4,664 | |
| | |
| | 403,020 | | | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | | | 13,203 | |
| | |
| | 10,305 | | | Severn Trent PLC (Water Utilities) | | | 268 | |
| | |
| | 561,304 | | | SSE PLC (Electric Utilities) | | | 7,999 | |
| | |
| | 10,826 | | | St. James Place PLC (Capital Markets) | | | 151 | |
| | |
| | 53,474 | | | Standard Life Aberdeen PLC (Diversified Financial Services) | | | 200 | |
| | |
| | 274,092 | | | Taylor Wimpey PLC (Household Durables) | | | 550 | |
| | |
| | 29,905 | | | United Utilities Group PLC (Water Utilities) | | | 298 | |
| | |
| | 911,316 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 1,493 | |
| | |
| | 20,738 | | | Willis Towers Watson PLC (Insurance) | | | 3,972 | |
| | | | | | | | |
| | | | | | | 192,715 | |
| | | | | | | | |
| |
| | | | United States — 1.02% | |
| | |
| | 1,653 | | | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | | | 1,789 | |
| | |
| | 1,602 | | | Alphabet, Inc., Class – C (Interactive Media & Services) (a) | | | 1,732 | |
| | |
| | 1,891 | | | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | | | 3,581 | |
| | |
| | 25,664 | | | Intercontinental Exchange Group, Inc. (Capital Markets) | | | 2,206 | |
| | | | | | | | |
| | | | | | | 9,308 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 845,705 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 2.70% | | | | |
| |
| | | | Brazil — 0.46% | |
| | |
| | 590,895 | | | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | | | 4,219 | |
| | | | | | | | |
See accompanying notes to financial statements.
173
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Preferred Stocks (continued) | | | | |
| |
| | | | Germany — 2.24% | |
| | |
| | 3,012 | | | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | | $ | 187 | |
| | |
| | 8,324 | | | Porsche Automobil Holding SE – Preferred (Automobiles) | | | 539 | |
| | |
| | 117,036 | | | Volkswagen AG – Preferred (Automobiles) | | | 19,708 | |
| | | | | | | | |
| | | | | | | 20,434 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 24,653 | |
| | | | | | | | |
| |
| | | | Right — 0.01% | |
| |
| | | | United Kingdom — 0.01% | |
| | |
| | 56,288,445 | | | Rolls-Royce Holdings PLC (Aerospace & Defense) | | | 71 | |
| | | | | | | | |
| | | | Total Right | | | 71 | |
| | | | | | | | |
| | |
| | | | Investment Companies — 0.98% | | | | |
| | |
| | 1,088,269 | | | Dreyfus Treasury Securities Cash Management, Institutional Shares, 2.10% (c) | | | 1,088 | |
| | |
| | 1,134,694 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (c) | | | 1,135 | |
| | |
| | 6,691,243 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (c) | | | 6,691 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 8,914 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| | |
| | | | Repurchase Agreement — 0.17% | | | | |
| | |
| $ | 1,581 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $1,580,977 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $1,612,266)^^ | | | 1,581 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 1,581 | |
| | | | | | | | |
| | | | Total Investments
(cost $761,770) — 96.69% | | | 880,924 | |
| | | | Other assets in excess of
liabilities — 3.31% | | | 30,135 | |
| | | | | | | | |
| | | | Net Assets —100.00% | | $ | 911,059 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $8,102 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
174
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | | | | | |
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 | | | 19.67 | % | | | 38.33 | % | | | 34.83 | % | | | — | | | | — | | | | 92.83 | % |
| | | | | | |
Preferred Stocks | | | 0.46 | % | | | 0.26 | % | | | 1.98 | % | | | — | | | | — | | | | 2.70 | % |
| | | | | | |
Right | | | — | | | | — | | | | 0.01 | % | | | — | | | | — | | | | 0.01 | % |
| | | | | | |
Investment Companies | | | — | | | | 0.24 | % | | | — | | | | 0.73 | % | | | 0.01 | % | | | 0.98 | % |
| | | | | | |
Repurchase Agreement | | | — | | | | 0.17 | % | | | — | | | | — | | | | — | | | | 0.17 | % |
| | | | | | |
Other Assets (Liabilities) | | | 1.22 | % | | | 0.31 | % | | | 1.63 | % | | | 0.15 | % | | | 0.00 | % | | | 3.31 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 21.35 | % | | | 39.31 | % | | | 38.45 | % | | | 0.88 | % | | | 0.01 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
MSCI EAFE Index Future | | 80 | | | 9/20/19 | | | $ | 7,693 | | | $ | 219 | |
| | | | | | | | | | | | | | |
| | | | | | | | $ | 7,693 | | | $ | 219 | |
| | | | | | | | | | | | | | |
| | Total Unrealized Appreciation | | | $ | 219 | |
| | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 219 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
175
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 87.00% | | | | |
| |
| | | | Australia — 4.40% | |
| | |
| | 111,232 | | | AGL Energy Ltd. (Multi-Utilities) | | $ | 1,564 | |
| | |
| | 411,936 | | | Alumina Ltd. (Metals & Mining) | | | 676 | |
| | |
| | 155,410 | | | AMP Ltd. (Diversified Financial Services) | | | 232 | |
| | |
| | 91,030 | | | APA Group (Gas Utilities) | | | 690 | |
| | |
| | 41,971 | | | Appen Ltd. (IT Services) | | | 829 | |
| | |
| | 25,258 | | | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | | | 546 | |
| | |
| | 324,176 | | | Aurizon Holdings Ltd. (Road & Rail) | | | 1,230 | |
| | |
| | 206,900 | | | AusNet Services (Electric Utilities) | | | 273 | |
| | |
| | 184,681 | | | Australia & New Zealand Banking Group Ltd. (Banks) | | | 3,665 | |
| | |
| | 32,685 | | | Bank of Queensland Ltd. (Banks) | | | 219 | |
| | |
| | 35,017 | | | Bendigo & Adelaide Bank Ltd. (Banks) | | | 285 | |
| | |
| | 439,104 | | | BHP Billiton Ltd. (Metals & Mining) | | | 12,761 | |
| | |
| | 367,243 | | | BHP Group PLC (Metals & Mining) | | | 9,390 | |
| | |
| | 91,343 | | | BlueScope Steel Ltd. (Metals & Mining) | | | 777 | |
| | |
| | 160,224 | | | Boral Ltd. (Construction Materials) | | | 578 | |
| | |
| | 32,305 | | | Brambles Ltd. (Commercial Services & Supplies) | | | 293 | |
| | |
| | 84,100 | | | Bravura Solutions Ltd. (Software) | | | 288 | |
| | |
| | 52,314 | | | CIMIC Group Ltd. (Construction & Engineering) | | | 1,645 | |
| | |
| | 101,827 | | | Coca-Cola Amatil Ltd. (Beverages) | | | 731 | |
| | |
| | 6,620 | | | Cochlear Ltd. (Health Care Equipment & Supplies) | | | 964 | |
| | |
| | 108,649 | | | Commonwealth Bank of Australia (Banks) | | | 6,320 | |
| | |
| | 68,217 | | | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | | | 596 | |
| | |
| | 17,402 | | | CSL Ltd. (Biotechnology) | | | 2,635 | |
| | |
| | 165,392 | | | Fortescue Metals Group Ltd. (Metals & Mining) | | | 1,052 | |
| | |
| | 162,826 | | | GPT Group (Equity Real Estate Investment Trusts) | | | 703 | |
| | |
| | 109,309 | | | Harvey Norman Holdings Ltd. (Multiline Retail) | | | 313 | |
| | |
| | 82,531 | | | Iluka Resources Ltd. (Metals & Mining) | | | 626 | |
| | |
| | 171,116 | | | Inghams Group Ltd. (Food Products)^ | | | 483 | |
| | |
| | 149,862 | | | Insurance Australia Group Ltd. (Insurance) | | | 871 | |
| | |
| | 22,142 | | | Jumbo Interactive Ltd. (Hotels, Restaurants & Leisure) | | | 314 | |
| | |
| | 13,614 | | | Macquarie Group Ltd. (Capital Markets) | | | 1,201 | |
| | |
| | 163,052 | | | National Australia Bank Ltd. (Banks) | | | 3,062 | |
| | |
| | 463,574 | | | Qantas Airways Ltd. (Airlines) | | | 1,759 | |
| | |
| | 81,199 | | | QBE Insurance Group Ltd. (Insurance) | | | 675 | |
| | |
| | 85,759 | | | Regis Resources Ltd. (Metals & Mining) | | | 318 | |
| | |
| | 50,953 | | | Sandfire Resources NL (Metals & Mining) | | | 240 | |
| | |
| | 182,960 | | | Santos Ltd. (Oil, Gas & Consumable Fuels) | | | 913 | |
| | |
| | 625,853 | | | Saracen Mineral Holdings Ltd. (Metals & Mining) (a) | | | 1,620 | |
| | |
| | 456,153 | | | Scentre Group (Equity Real Estate Investment Trusts) | | | 1,231 | |
| | |
| | 708,074 | | | South32 Ltd. (Metals & Mining) | | | 1,587 | |
| | |
| | 218,900 | | | Stockland Trust Group (Equity Real Estate Investment Trusts) | | | 642 | |
| | |
| | 83,365 | | | Suncorp Group Ltd. (Insurance) | | | 789 | |
| | |
| | 324,428 | | | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | | | 1,013 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Australia (continued) | |
| | |
| | 358,038 | | | Transurban Group (Transportation Infrastructure) | | $ | 3,706 | |
| | |
| | 298,883 | | | Vicinity Centres (Equity Real Estate Investment Trusts) | | | 514 | |
| | |
| | 162,400 | | | Wesfarmers Ltd. (Food & Staples Retailing) | | | 4,126 | |
| | |
| | 211,844 | | | Westpac Banking Corp. (Banks) | | | 4,221 | |
| | |
| | 132,001 | | | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | | | 3,385 | |
| | |
| | 18,840 | | | Woolworths Ltd. (Food & Staples Retailing) | | | 440 | |
| | | | | | | | |
| | | | | | | 82,991 | |
| | | | | | | | |
| |
| | | | Austria — 0.15% | |
| | |
| | 10,569 | | | ANDRITZ AG (Machinery) | | | 398 | |
| | |
| | 16,016 | | | Erste Group Bank AG (Banks) | | | 594 | |
| | |
| | 21,401 | | | OMV AG (Oil, Gas & Consumable Fuels) | | | 1,043 | |
| | |
| | 10,924 | | | Raiffeisen Bank International AG (Banks) | | | 256 | |
| | |
| | 16,807 | | | Voestalpine AG (Metals & Mining) | | | 519 | |
| | | | | | | | |
| | | | | | | 2,810 | |
| | | | | | | | |
| |
| | | | Belgium — 0.45% | |
| | |
| | 6,750 | | | Ageas (Insurance) | | | 351 | |
| | |
| | 68,653 | | | Anheuser-Busch InBev N.V. (Beverages) | | | 6,073 | |
| | |
| | 9,362 | | | Belgacom SA (Diversified Telecommunication Services) | | | 277 | |
| | |
| | 8,559 | | | KBC Groep N.V. (Banks) | | | 562 | |
| | |
| | 5,418 | | | Solvay SA (Chemicals) | | | 563 | |
| | |
| | 7,688 | | | UCB SA (Pharmaceuticals) | | | 637 | |
| | | | | | | | |
| | | | | | | 8,463 | |
| | | | | | | | |
| |
| | | | Bermuda — 0.02% | |
| | |
| | 122,000 | | | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | | | 335 | |
| | | | | | | | |
| |
| | | | Brazil — 0.33% | |
| | |
| | 104,382 | | | B3 SA – Brasil Bolsa Balcao (Capital Markets) | | | 1,018 | |
| | |
| | 332,484 | | | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) | | | 5,177 | |
| | | | | | | | |
| | | | | | | 6,195 | |
| | | | | | | | |
| |
| | | | Canada — 1.28% | |
| | |
| | 20,713 | | | Canadian Imperial Bank of Commerce (Banks) | | | 1,629 | |
| | |
| | 21,921 | | | Canadian National Railway Co. (Road & Rail) | | | 2,027 | |
| | |
| | 5,461 | | | Canadian Pacific Railway Ltd. (Road & Rail) | | | 1,285 | |
| | |
| | 30,772 | | | Dollarama, Inc. (Multiline Retail) | | | 1,083 | |
| | |
| | 1,381,114 | | | Encana Corp. (Oil, Gas & Consumable Fuels) | | | 7,088 | |
| | |
| | 161,538 | | | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | | | 6,252 | |
| | |
| | 259,198 | | | Manulife Financial Corp. (Insurance) | | | 4,711 | |
| | | | | | | | |
| | | | | | | 24,075 | |
| | | | | | | | |
| |
| | | | Cayman Islands — 0.01% | |
| | |
| | 34,000 | | | Anta Sports Products Ltd. (Textiles, Apparel & Luxury Goods) | | | 235 | |
| | | | | | | | |
| |
| | | | China — 1.20% | |
| | |
| | 62,877 | | | Baidu, Inc., ADR (Interactive Media &
Services) (a) | | | 7,379 | |
| | |
| | 1,004,827 | | | China Merchants Holdings (International)
Co. Ltd. (Transportation Infrastructure) | | | 1,710 | |
See accompanying notes to financial statements.
176
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | China (continued) | |
| | |
| | 1,251,798 | | | China Mobile Ltd. (Wireless Telecommunication Services) | | $ | 11,397 | |
| | |
| | 4,900 | | | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | | | 309 | |
| | |
| | 13,410 | | | Kweichow Moutai Co. Ltd. (Beverages) | | | 1,926 | |
| | | | | | | | |
| | | | | | | 22,721 | |
| | | | | | | | |
| |
| | | | Denmark — 1.39% | |
| | |
| | 1,879 | | | Carlsberg A/S, Class – B (Beverages) | | | 249 | |
| | |
| | 7,216 | | | Coloplast A/S, Class – B (Health Care Equipment & Supplies) | | | 816 | |
| | |
| | 46,884 | | | Danske Bank A/S (Banks) | | | 743 | |
| | |
| | 26,145 | | | Genmab A/S (Biotechnology) (a) | | | 4,809 | |
| | |
| | 6,456 | | | H. Lundbeck A/S (Pharmaceuticals) | | | 256 | |
| | |
| | 29,692 | | | ISS A/S (Commercial Services & Supplies) | | | 898 | |
| | |
| | 311,946 | | | Novo Nordisk A/S, Class – B (Pharmaceuticals) | | | 15,938 | |
| | |
| | 19,443 | | | Pandora A/S (Textiles, Apparel & Luxury Goods) | | | 692 | |
| | |
| | 15,757 | | | Simcorp A/S (Software) | | | 1,526 | |
| | |
| | 8,820 | | | Tryg A/S (Insurance) | | | 287 | |
| | | | | | | | |
| | | | | | | 26,214 | |
| | | | | | | | |
| |
| | | | Finland — 0.65% | |
| | |
| | 101,922 | | | Fortum Oyj (Electric Utilities) | | | 2,252 | |
| | |
| | 26,586 | | | Nokian Renkaat Oyj (Auto Components) | | | 830 | |
| | |
| | 302,233 | | | Nordea Bank Abp (Banks) | | | 2,196 | |
| | |
| | 22,062 | | | Orion Oyj, Class – B (Pharmaceuticals) | | | 809 | |
| | |
| | 35,853 | | | Sampo Oyj, Class – A (Insurance) | | | 1,692 | |
| | |
| | 122,952 | | | Stora Enso Oyj, R Shares (Paper & Forest Products) | | | 1,446 | |
| | |
| | 113,234 | | | UPM-Kymmene Oyj (Paper & Forest Products) | | | 3,012 | |
| | | | | | | | |
| | | | | | | 12,237 | |
| | | | | | | | |
| |
| | | | France — 8.08% | |
| | |
| | 27,410 | | | AirFrance-KLM (Airlines) (a) | | | 263 | |
| | |
| | 53,911 | | | Air Liquide SA (Chemicals) | | | 7,538 | |
| | |
| | 23,566 | | | Amundi SA (Capital Markets) | | | 1,645 | |
| | |
| | 16,538 | | | Atos SE (IT Services) | | | 1,381 | |
| | |
| | 155,104 | | | AXA SA (Insurance) | | | 4,072 | |
| | |
| | 349,147 | | | BNP Paribas (Banks) | | | 16,548 | |
| | |
| | 37,366 | | | Bouygues SA (Construction & Engineering) | | | 1,383 | |
| | |
| | 10,618 | | | Capgemini SE (IT Services) | | | 1,320 | |
| | |
| | 202,453 | | | Carrefour SA (Food & Staples Retailing)^ | | | 3,908 | |
| | |
| | 9,240 | | | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | | | 315 | |
| | |
| | 2,730 | | | Christian Dior SE (Textiles, Apparel & Luxury Goods) | | | 1,431 | |
| | |
| | 12,005 | | | CNP Assurances (Insurance) | | | 272 | |
| | |
| | 83,931 | | | Compagnie de Saint-Gobain (Building Products) | | | 3,277 | |
| | |
| | 28,118 | | | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | | | 3,554 | |
| | |
| | 71,114 | | | Credit Agricole SA (Banks) | | | 848 | |
| | |
| | 21,400 | | | Danone SA (Food Products) | | | 1,812 | |
| | |
| | 29,024 | | | Eiffage SA (Construction & Engineering) (b) | | | 2,868 | |
| | |
| | 257,591 | | | Electricite de France SA (Electric Utilities) | | | 3,247 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | France (continued) | |
| | |
| | 187,441 | | | ENGIE (Multi-Utilities) | | $ | 2,841 | |
| | |
| | 27,952 | | | Eutelsat Communications (Media) | | | 522 | |
| | |
| | 29,714 | | | Faurecia (Auto Components) | | | 1,378 | |
| | |
| | 4,000 | | | Fonciere des Regions (Equity Real Estate Investment Trusts) | | | 419 | |
| | |
| | 3,878 | | | Gecina SA (Equity Real Estate Investment Trusts) | | | 580 | |
| | |
| | 3,030 | | | Hermes International (Textiles, Apparel & Luxury Goods) | | | 2,184 | |
| | |
| | 3,339 | | | Icade (Equity Real Estate Investment
Trusts)^ | | | 306 | |
| | |
| | 5,801 | | | Imerys SA (Construction Materials) | | | 307 | |
| | |
| | 28,520 | | | Ingenico Group SA (Electronic Equipment, Instruments & Components) | | | 2,523 | |
| | |
| | 14,650 | | | Ipsen SA (Pharmaceuticals) | | | 1,998 | |
| | |
| | 3,233 | | | Kering (Textiles, Apparel & Luxury Goods) | | | 1,908 | |
| | |
| | 17,216 | | | Klepierre (Equity Real Estate Investment Trusts) | | | 577 | |
| | |
| | 10,284 | | | L’Oreal SA (Personal Products) | | | 2,923 | |
| | |
| | 64,137 | | | Natixism SA (Capital Markets) | | | 258 | |
| | |
| | 210,613 | | | Orange SA (Diversified Telecommunication Services) | | | 3,321 | |
| | |
| | 258,979 | | | Peugeot SA (Automobiles) | | | 6,373 | |
| | |
| | 32,407 | | | Publicis Groupe (Media)^ | | | 1,710 | |
| | |
| | 33,921 | | | Renault SA (Automobiles) | | | 2,132 | |
| | |
| | 14,592 | | | Safran SA (Aerospace & Defense) | | | 2,134 | |
| | |
| | 154,762 | | | Sanofi-Aventis (Pharmaceuticals) | | | 13,371 | |
| | |
| | 110,588 | | | Schneider Electric SA (Electrical Equipment) | | | 10,004 | |
| | |
| | 10,238 | | | SCOR SE (Insurance) | | | 449 | |
| | |
| | 4,609 | | | Societe BIC SA (Commercial Services & Supplies) | | | 351 | |
| | |
| | 48,154 | | | Societe Generale (Banks) | | | 1,215 | |
| | |
| | 30,814 | | | Suez Environnement Co. (Multi-Utilities) | | | 445 | |
| | |
| | 512,336 | | | Total SA (Oil, Gas & Consumable Fuels)^ | | | 28,731 | |
| | |
| | 11,718 | | | Unibail-Rodamco-Westfield (Equity Real Estate Investment Trusts) | | | 1,754 | |
| | |
| | 42,848 | | | Valeo SA (Auto Components) | | | 1,395 | |
| | |
| | 44,283 | | | Veolia Environnement (Multi-Utilities) | | | 1,078 | |
| | |
| | 34,412 | | | Vinci SA (Construction & Engineering) | | | 3,514 | |
| | | | | | | | |
| | | | | | | 152,383 | |
| | | | | | | | |
| |
| | | | Germany — 8.85% | |
| | |
| | 11,320 | | | Adidas AG (Textiles, Apparel & Luxury Goods) | | | 3,502 | |
| | |
| | 72,044 | | | Allianz SE (Insurance) | | | 17,371 | |
| | |
| | 46,249 | | | Aroundtown SA (Real Estate Management & Development) | | | 381 | |
| | |
| | 4,435 | | | Axel Springer AG (Media) | | | 312 | |
| | |
| | 270,764 | | | BASF SE (Chemicals) | | | 19,692 | |
| | |
| | 109,711 | | | Bayer AG (Pharmaceuticals) | | | 7,608 | |
| | |
| | 38,863 | | | Bayerische Motoren Werke AG (Automobiles) | | | 2,872 | |
| | |
| | 13,266 | | | Beiersdorf AG (Personal Products) | | | 1,590 | |
| | |
| | 21,620 | | | Continental AG (Auto Components) | | | 3,147 | |
| | |
| | 58,197 | | | Covestro AG (Chemicals) | | | 2,962 | |
| | |
| | 13,290 | | | CTS Eventim AG & Co. KGaA (Entertainment) | | | 618 | |
See accompanying notes to financial statements.
177
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Germany (continued) | |
| | |
| | 106,622 | | | Daimler AG, Registered Shares (Automobiles) | | $ | 5,945 | |
| | |
| | 104,531 | | | Deutsche Boerse AG (Capital Markets) | | | 14,753 | |
| | |
| | 87,783 | | | Deutsche Lufthansa AG, Registered Shares (Airlines) | | | 1,505 | |
| | |
| | 541,327 | | | Deutsche Post AG (Air Freight & Logistics) | | | 17,803 | |
| | |
| | 244,050 | | | Deutsche Telekom AG (Diversified Telecommunication Services) | | | 4,227 | |
| | |
| | 3,954 | | | Drillisch AG (Wireless Telecommunication Services) | | | 132 | |
| | |
| | 127,798 | | | E.ON AG (Multi-Utilities) | | | 1,386 | |
| | |
| | 21,331 | | | Evonik Industries AG (Chemicals) | | | 621 | |
| | |
| | 17,712 | | | GEA Group AG (Machinery) | | | 503 | |
| | |
| | 2,652 | | | Hannover Rueckversicherung AG (Insurance) | | | 429 | |
| | |
| | 17,086 | | | HeidelbergCement AG (Construction Materials) | | | 1,382 | |
| | |
| | 7,541 | | | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | | | 502 | |
| | |
| | 113,943 | | | Infineon Technologies AG (Semiconductors & Semiconductor Equipment) | | | 2,024 | |
| | |
| | 20,347 | | | Metro AG (Food & Staples Retailing) | | | 372 | |
| | |
| | 16,536 | | | MTU Aero Engines AG (Aerospace & Defense) | | | 3,943 | |
| | |
| | 6,454 | | | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | | | 1,617 | |
| | |
| | 10,135 | | | Rheinmetall AG (Industrial Conglomerates) | | | 1,242 | |
| | |
| | 153,952 | | | SAP SE (Software) | | | 21,100 | |
| | |
| | 45,730 | | | Schaeffler AG (Auto Components) | | | 340 | |
| | |
| | 73,369 | | | Siemens AG (Industrial Conglomerates) | | | 8,733 | |
| | |
| | 29,609 | | | Symrise AG (Chemicals) | | | 2,850 | |
| | |
| | 55,886 | | | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | | | 156 | |
| | |
| | 79,380 | | | TUI AG (Hotels, Restaurants & Leisure) | | | 779 | |
| | |
| | 11,482 | | | Uniper SE (Independent Power and Renewable Electricity Producers) | | | 348 | |
| | |
| | 3,826 | | | Volkswagen AG (Automobiles) | | | 656 | |
| | |
| | 80,331 | | | Wirecard AG (IT Services) | | | 13,558 | |
| | | | | | | | |
| | | | | | | 166,961 | |
| | | | | | | | |
| |
| | | | Hong Kong — 2.58% | |
| | |
| | 973,118 | | | AIA Group Ltd. (Insurance) (b) | | | 10,510 | |
| | |
| | 48,400 | | | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | | | 496 | |
| | |
| | 211,005 | | | BOC Hong Kong (Holdings) Ltd. (Banks) | | | 831 | |
| | |
| | 588,000 | | | China Common Rich Renewable Energy Investment Ltd. (Independent Power and Renewable Electricity Producers) (a) | | | — | |
| | |
| | 417,500 | | | CK Asset Holdings Ltd. (Real Estate Management & Development) | | | 3,271 | |
| | |
| | 449,500 | | | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | | | 4,434 | |
| | |
| | 51,000 | | | CK Infrastructure Holdings Ltd. (Electric Utilities) | | | 416 | |
| | |
| | 135,919 | | | CLP Holdings Ltd. (Electric Utilities) | | | 1,497 | |
| | |
| | 174,000 | | | Hang Lung Properties Ltd. (Real Estate Management & Development) | | | 414 | |
| | |
| | 43,409 | | | Hang Seng Bank Ltd. (Banks) | | | 1,080 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hong Kong (continued) | |
| | |
| | 147,055 | | | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | | $ | 811 | |
| | |
| | 236,377 | | | HK Electric Investments Ltd. (Electric Utilities) | | | 242 | |
| | |
| | 297,000 | | | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | | | 471 | |
| | |
| | 94,100 | | | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | | | 607 | |
| | |
| | 55,000 | | | Hysan Development Co. (Real Estate Management & Development) | | | 284 | |
| | |
| | 234,000 | | | Kerry Properties Ltd. (Real Estate Management & Development) | | | 983 | |
| | |
| | 511,000 | | | New World Development Co. Ltd. (Real Estate Management & Development) | | | 799 | |
| | |
| | 189,000 | | | NWS Holdings Ltd. (Industrial Conglomerates) | | | 389 | |
| | |
| | 396,000 | | | PCCW Ltd. (Diversified Telecommunication Services) | | | 229 | |
| | |
| | 106,038 | | | Power Assets Holdings Ltd. (Electric Utilities) | | | 763 | |
| | |
| | 918,000 | | | Sands China Ltd. (Hotels, Restaurants & Leisure) | | | 4,386 | |
| | |
| | 265,839 | | | Sino Land Co. Ltd. (Real Estate Management & Development) | | | 446 | |
| | |
| | 127,540 | | | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | | | 2,164 | |
| | |
| | 269,500 | | | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | | | 3,312 | |
| | |
| | 53,500 | | | Techtronic Industries Co. (Household Durables) | | | 410 | |
| | |
| | 76,200 | | | The Bank of East Asia Ltd. (Banks) | | | 213 | |
| | |
| | 223,826 | | | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 2,754 | |
| | |
| | 120,000 | | | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | | | 318 | |
| | |
| | 2,944,000 | | | WH Group Ltd. (Food Products) | | | 2,986 | |
| | |
| | 81,000 | | | Wharf Real Estate Investment Co. Ltd. (Real Estate Management & Development) | | | 571 | |
| | |
| | 68,000 | | | Wheelock & Co. Ltd. (Real Estate Management & Development) | | | 488 | |
| | |
| | 894,000 | | | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | | | 2,001 | |
| | | | | | | | |
| | | | | | | 48,576 | |
| | | | | | | | |
| |
| | | | Indonesia — 0.04% | |
| | |
| | 2,631,500 | | | PT Bank Rakyat Indonesia Persero Tbk (Banks) | | | 813 | |
| | | | | | | | |
| |
| | | | Ireland (Republic of) — 0.98% | |
| | |
| | 27,186 | | | AIB Group PLC (Banks) | | | 111 | |
| | |
| | 31,099 | | | Bank of Ireland Group PLC (Banks) | | | 163 | |
| | |
| | 63,972 | | | CRH PLC (Construction Materials) | | | 2,091 | |
| | |
| | 112,044 | | | Experian PLC (Professional Services) | | | 3,393 | |
| | |
| | 26,154 | | | Grafton Group PLC (Trading Companies & Distributors) | | | 267 | |
| | |
| | 75,696 | | | Medtronic PLC (Health Care Equipment & Supplies) | | | 7,372 | |
| | |
| | 6,158 | | | Paddy Power PLC (Hotels, Restaurants & Leisure) | | | 463 | |
| | |
| | 64,850 | | | Ryanair Holdings PLC, ADR (Airlines) (a) | | | 4,159 | |
| | |
| | 17,660 | | | Smurfit Kappa Group PLC (Containers & Packaging) | | | 535 | |
| | | | | | | | |
| | | | | | | 18,554 | |
| | | | | | | | |
See accompanying notes to financial statements.
178
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Isle of Man — 0.04% | |
| | |
| | 100,983 | | | GVC Holdings PLC (Hotels, Restaurants & Leisure) | | $ | 837 | |
| | | | | | | | |
| |
| | | | Israel — 0.24% | |
| | |
| | 4,374 | | | Azrieli Group (Real Estate Management & Development) | | | 294 | |
| | |
| | 97,459 | | | Bank Leumi Le (Banks) | | | 705 | |
| | |
| | 2,000 | | | CyberArk Software Ltd. (Software) (a) | | | 256 | |
| | |
| | 2,443 | | | Elbit Systems Ltd. (Aerospace & Defense) | | | 365 | |
| | |
| | 257,539 | | | Israel Chemicals Ltd. (Chemicals) | | | 1,356 | |
| | |
| | 163,605 | | | Israel Discount Bank, Class – A (Banks) | | | 668 | |
| | |
| | 6,391 | | | Nice Systems Ltd., ADR (Software) (a) | | | 875 | |
| | | | | | | | |
| | | | | | | 4,519 | |
| | | | | | | | |
| |
| | | | Italy — 2.38% | |
| | |
| | 186,344 | | | Assicurazioni Generali SpA (Insurance) | | | 3,508 | |
| | |
| | 1,451,784 | | | Enel SpA (Electric Utilities) | | | 10,125 | |
| | |
| | 345,144 | | | Eni SpA (Oil, Gas & Consumable Fuels) | | | 5,737 | |
| | |
| | 52,147 | | | Fiat DaimlerChrysler Automobiles N.V. (Automobiles) | | | 724 | |
| | |
| | 2,349,576 | | | Intesa Sanpaolo SpA (Banks) | | | 5,029 | |
| | |
| | 32,824 | | | Mediobanca SpA (Banks) | | | 338 | |
| | |
| | 85,944 | | | Poste Italiane SpA (Insurance) | | | 905 | |
| | |
| | 299,092 | | | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | | | 1,488 | |
| | |
| | 471,000 | | | Telecom Italia SpA (Diversified Telecommunication Services) | | | 244 | |
| | |
| | 98,451 | | | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | | | 627 | |
| | |
| | 1,316,359 | | | Unicredit SpA (Banks) | | | 16,198 | |
| | | | | | | | |
| | | | | | | 44,923 | |
| | | | | | | | |
| |
| | | | Japan — 17.29% | |
| | |
| | 30,800 | | | Advantest Corp. (Semiconductors & Semiconductor Equipment) | | | 848 | |
| | |
| | 6,900 | | | AEON Credit Service Co. Ltd. (Consumer Finance) | | | 111 | |
| | |
| | 23,700 | | | Aisin Seiki Co. Ltd. (Auto Components) | | | 818 | |
| | |
| | 32,900 | | | ALPS Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 557 | |
| | |
| | 49,200 | | | Amada Holdings Co. Ltd. (Machinery) | | | 556 | |
| | |
| | 8,300 | | | Aozora Bank Ltd. (Banks) | | | 200 | |
| | |
| | 58,115 | | | Asahi Glass Co. Ltd. (Building Products)^ | | | 2,013 | |
| | |
| | 188,300 | | | Asahi Kasei Corp. (Chemicals) | | | 2,013 | |
| | |
| | 90,100 | | | Bridgestone Corp. (Auto Components)^ | | | 3,554 | |
| | |
| | 33,900 | | | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | | | 642 | |
| | |
| | 6,600 | | | CALBEE, Inc. (Food Products) | | | 178 | |
| | |
| | 154,967 | | | Canon, Inc. (Technology Hardware, Storage & Peripherals)^ | | | 4,538 | |
| | |
| | 31,300 | | | Casio Computer Co. Ltd. (Household Durables) | | | 390 | |
| | |
| | 2,200 | | | Century Tokyo Leasing Corp. (Diversified Financial Services) | | | 93 | |
| | |
| | 47,300 | | | Chubu Electric Power Company, Inc. (Electric Utilities) | | | 664 | |
| | |
| | 39,700 | | | Coca-Cola West Co. Ltd. (Beverages) | | | 1,007 | |
| | |
| | 66,600 | | | Concordia Financial Group Ltd. (Banks) | | | 249 | |
| | |
| | 6,100 | | | Credit Saison Co. Ltd. (Consumer Finance) | | | 72 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 36,139 | | | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | | $ | 772 | |
| | |
| | 192,700 | | | Daicel Corp. (Chemicals) | | | 1,718 | |
| | |
| | 5,167 | | | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | | | 659 | |
| | |
| | 209,100 | | | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | | | 6,111 | |
| | |
| | 137 | | | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | | | 331 | |
| | |
| | 65,000 | | | Daiwa Securities Group, Inc. (Capital Markets) | | | 285 | |
| | |
| | 65,400 | | | Denso Corp. (Auto Components) | | | 2,758 | |
| | |
| | 15,900 | | | Dentsu, Inc. (Media) | | | 556 | |
| | |
| | 15,800 | | | Dip Corp. (Interactive Media & Services) | | | 265 | |
| | |
| | 39,000 | | | DMG Mori Co. Ltd. (Machinery) | | | 628 | |
| | |
| | 122,600 | | | East Japan Railway Co. (Road & Rail) | | | 11,483 | |
| | |
| | 12,800 | | | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | | | 291 | |
| | |
| | 76,500 | | | Fanuc Ltd. (Machinery) | | | 14,218 | |
| | |
| | 92,794 | | | Fuji Heavy Industries Ltd. (Automobiles) | | | 2,260 | |
| | |
| | 82,500 | | | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 4,189 | |
| | |
| | 29,000 | | | Fujitsu Ltd. (IT Services) | | | 2,027 | |
| | |
| | 71,900 | | | Fukuoka Financial Group, Inc. (Banks) | | | 1,317 | |
| | |
| | 13,900 | | | Fullcast Holdings Co. Ltd. (Professional Services) | | | 297 | |
| | |
| | 42,400 | | | Hino Motors Ltd. (Machinery) | | | 358 | |
| | |
| | 4,700 | | | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 526 | |
| | |
| | 14,500 | | | Hitachi Capital Corp. (Consumer Finance) | | | 323 | |
| | |
| | 16,500 | | | Hitachi Construction Machinery Co. Ltd. (Machinery) | | | 432 | |
| | |
| | 10,000 | | | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | | | 514 | |
| | |
| | 181,000 | | | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | | | 6,661 | |
| | |
| | 31,400 | | | Hitachi Metals Ltd. (Metals & Mining) | | | 356 | |
| | |
| | 289,224 | | | Honda Motor Co. Ltd. (Automobiles) | | | 7,480 | |
| | |
| | 11,800 | | | HOYA Corp. (Health Care Equipment & Supplies) | | | 907 | |
| | |
| | 25,400 | | | Hulic Co. Ltd. (Real Estate Management & Development) | | | 205 | |
| | |
| | 28,159 | | | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 852 | |
| | |
| | 8,500 | | | IHI Corp. (Machinery) | | | 206 | |
| | |
| | 24,200 | | | Iida Group Holdings Co. Ltd. (Household Durables) | | | 392 | |
| | |
| | 82,100 | | | Isuzu Motors Ltd. (Automobiles) | | | 938 | |
| | |
| | 209,268 | | | ITOCHU Corp. (Trading Companies & Distributors) | | | 4,009 | |
| | |
| | 36,100 | | | J. Front Retailing Co. Ltd. (Multiline Retail) | | | 415 | |
| | |
| | 31,700 | | | Japan Airlines Co. Ltd. (Airlines) | | | 1,012 | |
| | |
| | 105,900 | | | Japan Exchange Group, Inc. (Capital Markets) | | | 1,687 | |
| | |
| | 28,000 | | | Japan Post Bank Co. Ltd. (Banks) | | | 285 | |
| | |
| | 455,800 | | | Japan Post Holdings Co. Ltd. (Insurance) | | | 5,163 | |
| | |
| | 66 | | | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | | | 286 | |
See accompanying notes to financial statements.
179
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 95 | | | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | | $ | 578 | |
| | |
| | 207 | | | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | | | 419 | |
| | |
| | 248,197 | | | Japan Tobacco, Inc. (Tobacco)^ | | | 5,472 | |
| | |
| | 132,100 | | | JFE Holdings, Inc. (Metals & Mining) | | | 1,945 | |
| | |
| | 38,245 | | | JS Group Corp. (Building Products) | | | 607 | |
| | |
| | 28,083 | | | JSR Corp. (Chemicals) | | | 445 | |
| | |
| | 31,100 | | | JTEKT Corp. (Machinery) | | | 378 | |
| | |
| | 493,518 | | | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 2,460 | |
| | |
| | 66,000 | | | Kajima Corp. (Construction & Engineering) | | | 908 | |
| | |
| | 20,900 | | | Kawasaki Heavy Industries Ltd. (Machinery) | | | 493 | |
| | |
| | 494,500 | | | KDDI Corp. (Wireless Telecommunication Services) | | | 12,584 | |
| | |
| | 134,000 | | | Komatsu Ltd. (Machinery) | | | 3,254 | |
| | |
| | 68,100 | | | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | | | 664 | |
| | |
| | 3,300 | | | Kose Corp. (Personal Products) | | | 557 | |
| | |
| | 47,329 | | | Kuraray Co. Ltd. (Chemicals)^ | | | 567 | |
| | |
| | 48,000 | | | Kyocera Corp. (Electronic Equipment, Instruments & Components) | | | 3,146 | |
| | |
| | 29,800 | | | Kyushu Electric Power Co., Inc. (Electric Utilities) | | | 293 | |
| | |
| | 23,800 | | | Kyushu Railway Co. (Road & Rail) | | | 694 | |
| | |
| | 8,826 | | | Lawson, Inc. (Food & Staples Retailing) | | | 424 | |
| | |
| | 23,800 | | | Maeda Corp. (Construction & Engineering) | | | 191 | |
| | |
| | 231,331 | | | Marubeni Corp. (Trading Companies & Distributors) | | | 1,536 | |
| | |
| | 8,977 | | | Maruichi Steel Tube Ltd. (Metals & Mining) | | | 250 | |
| | |
| | 89,800 | | | Mazda Motor Corp. (Automobiles) | | | 930 | |
| | |
| | 66,000 | | | Mebuki Financial Group, Inc. (Banks) | | | 172 | |
| | |
| | 186,600 | | | Mitsubishi Chemical Holdings Corp. (Chemicals) | | | 1,307 | |
| | |
| | 199,840 | | | Mitsubishi Corp. (Trading Companies & Distributors) | | | 5,281 | |
| | |
| | 271,100 | | | Mitsubishi Electric Corp. (Electrical Equipment) | | | 3,584 | |
| | |
| | 25,500 | | | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | | | 341 | |
| | |
| | 115,200 | | | Mitsubishi Heavy Industries Ltd. (Machinery) | | | 5,025 | |
| | |
| | 16,000 | | | Mitsubishi Materials Corp. (Metals & Mining) | | | 456 | |
| | |
| | 37,343 | | | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | | | 416 | |
| | |
| | 1,099,982 | | | Mitsubishi UFJ Financial Group, Inc. (Banks) | | | 5,239 | |
| | |
| | 19,100 | | | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | | | 102 | |
| | |
| | 242,726 | | | Mitsui & Co. Ltd. (Trading Companies & Distributors) | | | 3,963 | |
| | |
| | 26,900 | | | Mitsui Chemicals, Inc. (Chemicals) | | | 668 | |
| | |
| | 1,342,792 | | | Mizuho Financial Group, Inc. (Banks) | | | 1,953 | |
| | |
| | 26,000 | | | MS&AD Insurance Group Holdings, Inc. (Insurance) | | | 827 | |
| | |
| | 82,600 | | | Murata Manufacturing Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 3,719 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 16,400 | | | Nabtesco Corp. (Machinery) | | $ | 458 | |
| | |
| | 38,100 | | | NEC Corp. (Technology Hardware, Storage & Peripherals) | | | 1,504 | |
| | |
| | 38,500 | | | NGK Insulators Ltd. (Machinery) | | | 563 | |
| | |
| | 27,100 | | | Nikkiso Co. Ltd. (Health Care Equipment & Supplies) | | | 362 | |
| | |
| | 50,600 | | | Nikon Corp. (Household Durables) | | | 720 | |
| | |
| | 103 | | | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | | | 705 | |
| | |
| | 13,300 | | | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 338 | |
| | |
| | 11,200 | | | Nippon Express Co. Ltd. (Road & Rail) | | | 597 | |
| | |
| | 146 | | | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | | | 337 | |
| | |
| | 55,900 | | | Nippon Shinyaku Co. Ltd. (Pharmaceuticals) | | | 3,958 | |
| | |
| | 119,700 | | | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | | | 2,061 | |
| | |
| | 50,200 | | | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | | | 2,339 | |
| | |
| | 357,179 | | | Nissan Motor Co. Ltd. (Automobiles) | | | 2,559 | |
| | |
| | 35,900 | | | Nitto Denko Corp. (Chemicals) | | | 1,777 | |
| | |
| | 12,100 | | | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | | | 261 | |
| | |
| | 294 | | | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | | | 452 | |
| | |
| | 53,700 | | | Nomura Research Institute Ltd. (IT Services) | | | 864 | |
| | |
| | 55,400 | | | NSK Ltd. (Machinery) | | | 495 | |
| | |
| | 338,100 | | | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | | | 7,890 | |
| | |
| | 93,100 | | | Obayashi Corp. (Construction & Engineering) | | | 920 | |
| | |
| | 28,000 | | | OMRON Corp. (Electronic Equipment, Instruments & Components) | | | 1,469 | |
| | |
| | 263,800 | | | ORIX Corp. (Diversified Financial Services) | | | 3,943 | |
| | |
| | 26,995 | | | Osaka Gas Co. Ltd. (Gas Utilities) | | | 471 | |
| | |
| | 58,300 | | | Otsuka Holdings Co. Ltd. (Pharmaceuticals) | | | 1,905 | |
| | |
| | 335,300 | | | Panasonic Corp. (Household Durables) | | | 2,801 | |
| | |
| | 18,000 | | | Park24 Co. Ltd. (Commercial Services & Supplies) | | | 420 | |
| | |
| | 13,500 | | | Pola Orbis Holdings, Inc. (Personal Products) | | | 378 | |
| | |
| | 19,900 | | | Raysum Co. Ltd. (Real Estate Management & Development) | | | 184 | |
| | |
| | 121,685 | | | Resona Holdings, Inc. (Banks) | | | 508 | |
| | |
| | 97,500 | | | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 976 | |
| | |
| | 13,100 | | | Rohm Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 883 | |
| | |
| | 8,204 | | | Sankyo Co. Ltd. (Leisure Products) | | | 298 | |
| | |
| | 9,500 | | | SBI Holdings, Inc. (Capital Markets) | | | 236 | |
| | |
| | 28,100 | | | Sega Sammy Holdings, Inc. (Leisure Products) | | | 342 | |
| | |
| | 40,769 | | | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | | | 646 | |
| | |
| | 53,400 | | | Sekisui Chemical Co. Ltd. (Household Durables) | | | 804 | |
| | |
| | 91,465 | | | Sekisui House Ltd. (Household Durables) | | | 1,507 | |
| | |
| | 163,700 | | | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | | | 5,547 | |
See accompanying notes to financial statements.
180
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Japan (continued) | |
| | |
| | 40,400 | | | Seven Bank Ltd. (Banks) | | $ | 106 | |
| | |
| | 3,300 | | | Shimamura Co. Ltd. (Specialty Retail) | | | 247 | |
| | |
| | 9,200 | | | Shin-Etsu Chemical Co. Ltd. (Chemicals) | | | 861 | |
| | |
| | 18,400 | | | Shionogi & Co. Ltd. (Pharmaceuticals) | | | 1,063 | |
| | |
| | 19,800 | | | Showa Denko KK (Chemicals) | | | 586 | |
| | |
| | 122,044 | | | Softbank Corp. (Wireless Telecommunication Services) | | | 1,586 | |
| | |
| | 31,400 | | | SoftBank Group Corp. (Wireless Telecommunication Services) | | | 1,513 | |
| | |
| | 216,900 | | | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | | | 8,391 | |
| | |
| | 10,000 | | | Sony Corp. (Household Durables) | | | 526 | |
| | |
| | 13,300 | | | Sony Financial Holdings, Inc. (Insurance) | | | 320 | |
| | |
| | 221,900 | | | Sumitomo Chemical Co. Ltd. (Chemicals) | | | 1,033 | |
| | |
| | 171,500 | | | Sumitomo Corp. (Trading Companies & Distributors) | | | 2,605 | |
| | |
| | 111,200 | | | Sumitomo Electric Industries Ltd. (Auto Components) | | | 1,464 | |
| | |
| | 60,000 | | | Sumitomo Heavy Industries Ltd. (Machinery) | | | 2,073 | |
| | |
| | 34,300 | | | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | | | 1,028 | |
| | |
| | 93,200 | | | Sumitomo Mitsui Construction (Construction & Engineering) | | | 518 | |
| | |
| | 207,923 | | | Sumitomo Mitsui Financial Group, Inc. (Banks) | | | 7,370 | |
| | |
| | 60,100 | | | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | | | 2,184 | |
| | |
| | 26,231 | | | Sumitomo Rubber Industries Ltd. (Auto Components)^ | | | 304 | |
| | |
| | 37,500 | | | SUZUKEN Co. Ltd. (Health Care Providers & Services) | | | 2,204 | |
| | |
| | 33,100 | | | T&D Holdings, Inc. (Insurance) | | | 360 | |
| | |
| | 57,100 | | | Taisei Corp. (Construction & Engineering) | | | 2,080 | |
| | |
| | 200,400 | | | Taiyo Nippon Sanso Corp. (Chemicals) | | | 4,268 | |
| | |
| | 617,985 | | | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 21,988 | |
| | |
| | 18,900 | | | TDK Corp. (Electronic Equipment, Instruments & Components) | | | 1,472 | |
| | |
| | 27,700 | | | Teijin Ltd. (Chemicals) | | | 473 | |
| | |
| | 77,400 | | | The Chiba Bank Ltd. (Banks) | | | 379 | |
| | |
| | 23,400 | | | The Chugoku Electric Power Company, Inc. (Electric Utilities) | | | 295 | |
| | |
| | 180,800 | | | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | | | 2,736 | |
| | |
| | 52,300 | | | The Kansai Electric Power Co., Inc. (Electric Utilities) | | | 600 | |
| | |
| | 67,700 | | | The Shizuoka Bank Ltd. (Banks) | | | 500 | |
| | |
| | 18,300 | | | The Yokohama Rubber Co. Ltd. (Auto Components)^ | | | 337 | |
| | |
| | 19,000 | | | THK Co. Ltd. (Machinery) | | | 457 | |
| | |
| | 33,500 | | | Tohoku Electric Power Co., Inc. (Electric Utilities) | | | 339 | |
| | |
| | 38,000 | | | Tokio Marine Holdings, Inc. (Insurance) | | | 1,907 | |
| | |
| | 31,300 | | | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | | | 4,400 | |
| | |
| | 52,300 | | | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) | | | 289 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Japan (continued) | |
| | |
| | 36,700 | | | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | | $ | 558 | |
| | |
| | 37,600 | | | Tosoh Corp. (Chemicals) | | | 530 | |
| | |
| | 33,000 | | | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | | | 656 | |
| | |
| | 11,300 | | | Toyoda Gosei Co. Ltd. (Auto Components) | | | 221 | |
| | |
| | 21,100 | | | Toyota Industries Corp. (Auto Components) | | | 1,164 | |
| | |
| | 183,000 | | | Toyota Motor Corp. (Automobiles) | | | 11,359 | |
| | |
| | 31,500 | | | Toyota Tsusho Corp. (Trading Companies & Distributors) | | | 957 | |
| | |
| | 18,500 | | | Trend Micro, Inc. (Software) | | | 827 | |
| | |
| | 224 | | | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | | | 376 | |
| | |
| | 31,800 | | | USS Co. Ltd. (Specialty Retail) | | | 628 | |
| | |
| | 19,700 | | | UT Group Co. Ltd. (Professional Services) | | | 482 | |
| | |
| | 5,700 | | | West Japan Railway Co. (Road & Rail) | | | 461 | |
| | |
| | 401,000 | | | Yahoo Japan Corp. (Interactive Media & Services) | | | 1,180 | |
| | |
| | 93,200 | | | Yamada Denki Co. Ltd. (Specialty Retail)^ | | | 413 | |
| | |
| | 41,000 | | | Yamaha Motor Co. Ltd. (Automobiles)^ | | | 731 | |
| | |
| | 34,000 | | | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | | | 669 | |
| | | | | | | | |
| | | | | | | 326,075 | |
| | | | | | | | |
| |
| | | | Jersey — 0.51% | |
| | |
| | 1,994,853 | | | Glencore International PLC (Metals & Mining) | | | 6,902 | |
| | |
| | 217,865 | | | WPP PLC (Media) | | | 2,744 | |
| | | | | | | | |
| | | | | | | 9,646 | |
| | | | | | | | |
| |
| | | | Luxembourg — 0.10% | |
| | |
| | 14,850 | | | ArcelorMittal (Metals & Mining) | | | 266 | |
| | |
| | 8,994 | | | Millicom International Cellular SA (Wireless Telecommunication Services) | | | 507 | |
| | |
| | 4,870 | | | RTL Group (Media) | | | 249 | |
| | |
| | 55,636 | | | SES – FDR, Class – A (Media) | | | 869 | |
| | | | | | | | |
| | | | | | | 1,891 | |
| | | | | | | | |
| |
| | | | Netherlands — 3.69% | |
| | |
| | 19,199 | | | ABN AMRO Group N.V. (Banks) | | | 411 | |
| | |
| | 3,005 | | | Adyen N.V. (IT Services) (a)(b) | | | 2,317 | |
| | |
| | 81,329 | | | AEGON N.V. (Insurance) | | | 404 | |
| | |
| | 70,753 | | | Airbus Group N.V. (Aerospace & Defense) | | | 10,010 | |
| | |
| | 80,169 | | | Akzo Nobel N.V. (Chemicals) | | | 7,531 | |
| | |
| | 5,166 | | | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | | | 1,075 | |
| | |
| | 15,569 | | | Euronext N.V. (Capital Markets) | | | 1,178 | |
| | |
| | 8,125 | | | Exor N.V. (Diversified Financial Services) | | | 569 | |
| | |
| | 1,334,293 | | | ING Groep N.V. (Banks) | | | 15,453 | |
| | |
| | 211,740 | | | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | | | 650 | |
| | |
| | 239,359 | | | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | | | 5,372 | |
| | |
| | 29,605 | | | Koninklijke DSM N.V. (Chemicals) | | | 3,652 | |
| | |
| | 8,411 | | | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | | | 387 | |
| | |
| | 14,536 | | | NN Group N.V. (Insurance) | | | 584 | |
| | |
| | 14,484 | | | Randstad Holding N.V. (Professional Services) | | | 795 | |
| | |
| | 21,429 | | | STMicroelectronics N.V. (Semiconductors & Semiconductor Equipment) | | | 380 | |
See accompanying notes to financial statements.
181
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Netherlands (continued) | |
| | |
| | 260,255 | | | Unilever N.V. (Personal Products) | | $ | 15,808 | |
| | |
| | 42,449 | | | Wolters Kluwer N.V. (Professional Services) | | | 3,087 | |
| | | | | | | | |
| | | | | | | 69,663 | |
| | | | | | | | |
| |
| | | | New Zealand — 0.02% | |
| | |
| | 15,736 | | | Auckland International Airport Ltd. (Transportation Infrastructure) | | | 104 | |
| | |
| | 32,615 | | | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | | | 104 | |
| | |
| | 82,598 | | | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | | | 222 | |
| | | | | | | | |
| | | | | | | 430 | |
| | | | | | | | |
| |
| | | | Norway — 0.72% | |
| | |
| | 31,154 | | | Aker BP ASA (Oil, Gas & Consumable Fuels) | | | 899 | |
| | |
| | 67,939 | | | DNB ASA (Banks) | | | 1,266 | |
| | |
| | 275,460 | | | Equinor ASA (Oil, Gas & Consumable Fuels) | | | 5,467 | |
| | |
| | 15,606 | | | Gjensidige Forsikring ASA (Insurance) | | | 315 | |
| | |
| | 74,429 | | | Marine Harvest ASA (Food Products) | | | 1,742 | |
| | |
| | 16,710 | | | Salmar ASA (Food Products) | | | 728 | |
| | |
| | 146,707 | | | Telenor ASA (Diversified Telecommunication Services) | | | 3,118 | |
| | | | | | | | |
| | | | | | | 13,535 | |
| | | | | | | | |
| |
| | | | Portugal — 0.10% | |
| | |
| | 513,297 | | | EDP – Energias de Portugal SA (Electric Utilities) | | | 1,950 | |
| | | | | | | | |
| |
| | | | Russia — 0.09% | |
| | |
| | 74,393 | | | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | | | 1,689 | |
| | | | | | | | |
| |
| | | | Singapore — 1.16% | |
| | |
| | 523,600 | | | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | | | 1,208 | |
| | |
| | 541,209 | | | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | | | 869 | |
| | |
| | 529,500 | | | CapitaMall Trust (Equity Real Estate Investment Trusts) | | | 1,030 | |
| | |
| | 414,900 | | | China Sunsine Chemical Holdings Ltd. (Chemicals) | | | 350 | |
| | |
| | 802,600 | | | ComfortDelGro Corp. Ltd. (Road & Rail) | | | 1,579 | |
| | |
| | 311,600 | | | DBS Group Holdings Ltd. (Banks) | | | 5,986 | |
| | |
| | 87,700 | | | Singapore Exchange Ltd. (Capital Markets) | | | 514 | |
| | |
| | 449,047 | | | Singapore Press Holdings Ltd. (Media) | | | 810 | |
| | |
| | 1,566,210 | | | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | | | 4,055 | |
| | |
| | 497,980 | | | Suntec REIT (Equity Real Estate Investment Trusts) | | | 715 | |
| | |
| | 107,200 | | | Venture Corp. Ltd. (Electronic Equipment, Instruments & Components) | | | 1,295 | |
| | |
| | 3,045,400 | | | Yangzijiang Shipbuilding Holdings Ltd. (Machinery) | | | 3,451 | |
| | | | | | | | |
| | | | | | | 21,862 | |
| | | | | | | | |
| |
| | | | South Korea — 0.95% | |
| | |
| | 190,205 | | | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 7,747 | |
| | |
| | 13,395 | | | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 1,847 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | South Korea (continued) | |
| | |
| | 36,836 | | | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | | $ | 8,264 | |
| | | | | | | | |
| | | | | | | 17,858 | |
| | | | | | | | |
| |
| | | | Spain — 1.65% | |
| | |
| | 42,527 | | | Amadeus IT Holding SA, A Shares (IT Services) | | | 3,369 | |
| | |
| | 808,491 | | | Banco Bilbao Vizcaya Argentaria SA (Banks) | | | 4,508 | |
| | |
| | 1,100,804 | | | Banco Santander SA (Banks) | | | 5,102 | |
| | |
| | 89,121 | | | Bankia SA (Banks) | | | 210 | |
| | |
| | 1,321,933 | | | CaixaBank SA (Banks) | | | 3,790 | |
| | |
| | 89,829 | | | Corporacion Mapfre (Insurance) | | | 263 | |
| | |
| | 40,524 | | | Enagas (Oil, Gas & Consumable Fuels) | | | 1,081 | |
| | |
| | 28,552 | | | Endesa (Electric Utilities) | | | 734 | |
| | |
| | 27,021 | | | Gas Natural SDG SA (Gas Utilities) | | | 744 | |
| | |
| | 104,142 | | | Iberdrola SA (Electric Utilities) | | | 1,037 | |
| | |
| | 68,464 | | | Industria de Diseno Textil SA (Specialty Retail) | | | 2,059 | |
| | |
| | 38,731 | | | Red Electrica Corp. (Electric Utilities) | | | 806 | |
| | |
| | 249,395 | | | Repsol SA (Oil, Gas & Consumable Fuels) | | | 3,913 | |
| | |
| | 418,045 | | | Telefonica SA (Diversified Telecommunication Services) | | | 3,437 | |
| | | | | | | | |
| | | | | | | 31,053 | |
| | | | | | | | |
| |
| | | | Sweden — 1.59% | |
| | |
| | 68,894 | | | Atlas Copco AB, A Shares (Machinery) | | | 2,209 | |
| | |
| | 70,419 | | | Boliden AB (Metals & Mining) | | | 1,805 | |
| | |
| | 64,502 | | | Electrolux AB, B Shares (Household Durables) | | | 1,654 | |
| | |
| | 27,468 | | | Evolution Gaming Group AB (Hotels, Restaurants & Leisure) | | | 544 | |
| | |
| | 19,640 | | | Granges AB (Metals & Mining) | | | 225 | |
| | |
| | 272,133 | | | Hennes & Mauritz AB, B Shares (Specialty Retail) | | | 4,838 | |
| | |
| | 15,719 | | | Kinnevik AB (Diversified Financial Services) | | | 409 | |
| | |
| | 12,914 | | | Nordic Entertainment Group AB, Class – B (Media) | | | 303 | |
| | |
| | 160,068 | | | Skandinaviska Enskilda Banken AB, Class – A (Banks) | | | 1,483 | |
| | |
| | 88,185 | | | Skanska AB, B Shares (Construction & Engineering) | | | 1,594 | |
| | |
| | 116,130 | | | SKF AB, B Shares (Machinery) | | | 2,139 | |
| | |
| | 148,514 | | | Svenska Handelsbanken AB, A Shares (Banks) | | | 1,466 | |
| | |
| | 91,386 | | | Swedbank AB, A Shares (Banks) | | | 1,376 | |
| | |
| | 63,058 | | | Tele2 AB, B Shares (Wireless Telecommunication Services) | | | 921 | |
| | |
| | 369,235 | | | TeliaSonera AB (Diversified Telecommunication Services) | | | 1,638 | |
| | |
| | 470,378 | | | Volvo AB, B Shares (Machinery) | | | 7,478 | |
| | | | | | | | |
| | | | | | | 30,082 | |
| | | | | | | | |
| |
| | | | Switzerland — 8.01% | |
| | |
| | 987,213 | | | ABB Ltd., Registered Shares (Electrical Equipment) | | | 19,800 | |
| | |
| | 36,157 | | | Adecco SA, Registered Shares (Professional Services) | | | 2,174 | |
| | |
| | 8,004 | | | Alcon, Inc. (Health Care Equipment & Supplies) (a) | | | 494 | |
See accompanying notes to financial statements.
182
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Switzerland (continued) | |
| | |
| | 1,497,448 | | | Aryzta AG (Food Products) (a) | | $ | 1,721 | |
| | |
| | 4,122 | | | Baloise Holding AG, Registered Shares (Insurance) | | | 730 | |
| | |
| | 45,152 | | | Clariant AG (Chemicals) | | | 919 | |
| | |
| | 20,806 | | | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | | | 1,769 | |
| | |
| | 9,977 | | | Dufry AG (Specialty Retail) | | | 846 | |
| | |
| | 1,825 | | | EMS-Chemie Holding AG, Registered Shares (Chemicals) | | | 1,185 | |
| | |
| | 44,489 | | | Idorsia Ltd. (Biotechnology) (a)(b) | | | 1,018 | |
| | |
| | 12,561 | | | Julius Baer Group Ltd. (Capital Markets) | | | 560 | |
| | |
| | 12,066 | | | Kuehne & Nagel International Ltd. (Marine) | | | 1,793 | |
| | |
| | 110,920 | | | LafargeHolcim Ltd., Registered Shares (Construction Materials) | | | 5,426 | |
| | |
| | 11,094 | | | Lonza Group AG (Life Sciences Tools & Services) | | | 3,747 | |
| | |
| | 139,169 | | | Nestle SA (Food Products) | | | 14,413 | |
| | |
| | 415,147 | | | Novartis AG, Registered Shares (Pharmaceuticals) | | | 37,916 | |
| | |
| | 2,378 | | | Pargesa Holding SA (Diversified Financial Services) | | | 183 | |
| | |
| | 3,576 | | | Partners Group Holding AG (Capital Markets) | | | 2,813 | |
| | |
| | 120,130 | | | Roche Holding AG (Pharmaceuticals) | | | 33,793 | |
| | |
| | 1,207 | | | SGS SA, Registered Shares (Professional Services) | | | 3,078 | |
| | |
| | 3,342 | | | Sika AG, Registered Shares (Chemicals) | | | 571 | |
| | |
| | 2,878 | | | Swiss Life Holding AG (Insurance) | | | 1,427 | |
| | |
| | 8,577 | | | Swiss Prime Site AG (Real Estate Management & Development) | | | 749 | |
| | |
| | 25,882 | | | Swiss Re AG (Insurance) | | | 2,631 | |
| | |
| | 2,930 | | | Swisscom AG (Diversified Telecommunication Services) | | | 1,472 | |
| | |
| | 14,301 | | | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | | | 775 | |
| | |
| | 6,758 | | | The Swatch Group AG, B Shares (Textiles, Apparel & Luxury Goods) | | | 1,938 | |
| | |
| | 219,988 | | | UBS Group AG (Capital Markets) | | | 2,616 | |
| | |
| | 12,857 | | | Zurich Financial Services AG (Insurance) | | | 4,476 | |
| | | | | | | | |
| | | | | | | 151,033 | |
| | | | | | | | |
| |
| | | | United Kingdom — 17.43% | |
| | |
| | 13,605 | | | Admiral Group PLC (Insurance) | | | 381 | |
| | |
| | 156,709 | | | Amcor Ltd. (Containers & Packaging) | | | 1,783 | |
| | |
| | 68,456 | | | Anglo American PLC (Metals & Mining) | | | 1,955 | |
| | |
| | 43,097 | | | Aon PLC (Insurance) | | | 8,317 | |
| | |
| | 72,780 | | | Associated British Foods PLC (Food Products) | | | 2,278 | |
| | |
| | 114,693 | | | AstraZeneca PLC (Pharmaceuticals) | | | 9,374 | |
| | |
| | 158,158 | | | Auto Trader Group PLC (Interactive Media & Services) | | | 1,101 | |
| | |
| | 31,195 | | | Aveva Group PLC (Software) | | | 1,600 | |
| | |
| | 1,349,751 | | | Aviva PLC (Insurance) | | | 7,148 | |
| | |
| | 549,839 | | | BAE Systems PLC (Aerospace & Defense) | | | 3,455 | |
| | |
| | 1,286,920 | | | Balfour Beatty PLC (Construction & Engineering) | | | 3,957 | |
| | |
| | 5,532,621 | | | Barclays PLC (Banks) | | | 10,521 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 181,193 | | | Barratt Developments PLC (Household Durables) | | $ | 1,318 | |
| | |
| | 3,199,341 | | | BP PLC (Oil, Gas & Consumable Fuels) | | | 22,285 | |
| | |
| | 654,565 | | | British American Tobacco PLC (Tobacco) | | | 22,851 | |
| | |
| | 86,706 | | | British Land Co. PLC (Equity Real Estate Investment Trusts) | | | 593 | |
| | |
| | 84,516 | | | Britvic PLC (Beverages) | | | 953 | |
| | |
| | 753,464 | | | BT Group PLC (Diversified Telecommunication Services) | | | 1,884 | |
| | |
| | 28,323 | | | Burberry Group PLC (Textiles, Apparel & Luxury Goods) | | | 671 | |
| | |
| | 61,139 | | | Carnival PLC (Hotels, Restaurants & Leisure) | | | 2,690 | |
| | |
| | 505,144 | | | Centrica PLC (Multi-Utilities) | | | 563 | |
| | |
| | 113,150 | | | Cineworld Group PLC (Entertainment) | | | 364 | |
| | |
| | 4,298,984 | | | Cobham PLC (Aerospace & Defense) (a) | | | 5,817 | |
| | |
| | 22,707 | | | Compass Group PLC (Hotels, Restaurants & Leisure) | | | 544 | |
| | |
| | 96,276 | | | Direct Line Insurance Group PLC (Insurance) | | | 406 | |
| | |
| | 66,317 | | | Dunelm Group PLC (Specialty Retail) | | | 775 | |
| | |
| | 28,604 | | | easyJet PLC (Airlines) | | | 346 | |
| | |
| | 397 | | | Ferguson PLC (Trading Companies & Distributors) | | | 28 | |
| | |
| | 267,170 | | | G4S PLC (Commercial Services & Supplies) | | | 707 | |
| | |
| | 9,259 | | | Games Workshop Group PLC (Leisure Products) | | | 583 | |
| | |
| | 713,112 | | | GlaxoSmithKline PLC (Pharmaceuticals) | | | 14,292 | |
| | |
| | 209,572 | | | Howden Joinery Group PLC (Trading Companies & Distributors) | | | 1,349 | |
| | |
| | 1,330,069 | | | HSBC Holdings PLC (Banks) | | | 11,100 | |
| | |
| | 326,337 | | | Imperial Tobacco Group PLC (Tobacco) | | | 7,656 | |
| | |
| | 271,450 | | | International Consolidated Airlines Group SA (Airlines)^ | | | 1,643 | |
| | |
| | 33,450 | | | Investec PLC (Capital Markets) | | | 217 | |
| | |
| | 643,577 | | | ITV PLC (Media) | | | 882 | |
| | |
| | 308,584 | | | J Sainsbury PLC (Food & Staples Retailing) | | | 767 | |
| | |
| | 123,761 | | | John Wood Group PLC (Energy Equipment & Services) | | | 712 | |
| | |
| | 98,839 | | | Johnson Matthey PLC (Chemicals) | | | 4,178 | |
| | |
| | 45,779 | | | Kazakhmys PLC (Metals & Mining) | | | 352 | |
| | |
| | 374,438 | | | Kingfisher PLC (Specialty Retail) | | | 1,020 | |
| | |
| | 65,772 | | | Land Securities Group PLC (Equity Real Estate Investment Trusts) | | | 697 | |
| | |
| | 394,188 | | | Legal & General Group PLC (Insurance) | | | 1,350 | |
| | |
| | 144,852 | | | Linde PLC (Chemicals) | | | 29,088 | |
| | |
| | 14,096,403 | | | Lloyds Banking Group PLC (Banks) | | | 10,122 | |
| | |
| | 64,226 | | | London Stock Exchange Group (Capital Markets) | | | 4,475 | |
| | |
| | 354,801 | | | Marks & Spencer Group PLC (Multiline Retail) | | | 948 | |
| | |
| | 204,210 | | | Micro Focus International PLC (Software) | | | 5,370 | |
| | |
| | 314,127 | | | National Grid PLC (Multi-Utilities) | | | 3,340 | |
| | |
| | 57,646 | | | Persimmon PLC (Household Durables) | | | 1,464 | |
| | |
| | 590,608 | | | Prudential PLC (Insurance) | | | 12,892 | |
| | |
| | 188,098 | | | RELX PLC (Professional Services) | | | 4,561 | |
See accompanying notes to financial statements.
183
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | United Kingdom (continued) | |
| | |
| | 114,284 | | | Rentokil Initial PLC (Commercial Services & Supplies) | | $ | 577 | |
| | |
| | 75,589 | | | Rightmove PLC (Interactive Media & Services) | | | 514 | |
| | |
| | 271,528 | | | Rio Tinto PLC (Metals & Mining) | | | 16,802 | |
| | |
| | 867,604 | | | Rolls-Royce Holdings PLC (Aerospace & Defense) | | | 9,267 | |
| | |
| | 1,086,139 | | | Royal Bank of Scotland Group PLC (Banks) | | | 3,029 | |
| | |
| | 504,996 | | | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | | | 16,479 | |
| | |
| | 540,962 | | | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | | | 17,722 | |
| | |
| | 20,687 | | | Severn Trent PLC (Water Utilities) | | | 538 | |
| | |
| | 614,441 | | | SSE PLC (Electric Utilities) | | | 8,756 | |
| | |
| | 23,732 | | | St. James Place PLC (Capital Markets) | | | 331 | |
| | |
| | 111,511 | | | Standard Life Aberdeen PLC (Diversified Financial Services) | | | 417 | |
| | |
| | 237,597 | | | Tate & Lyle PLC (Food Products) | | | 2,227 | |
| | |
| | 596,613 | | | Taylor Wimpey PLC (Household Durables) | | | 1,197 | |
| | |
| | 60,909 | | | United Utilities Group PLC (Water Utilities) | | | 606 | |
| | |
| | 6,798,067 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 11,140 | |
| | |
| | 14,430 | | | WH Smith PLC (Specialty Retail) | | | 361 | |
| | |
| | 26,052 | | | Willis Towers Watson PLC (Insurance) | | | 4,990 | |
| | | | | | | | |
| | | | | | | 328,676 | |
| | | | | | | | |
| |
| | | | United States — 0.62% | |
| | |
| | 2,076 | | | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | | | 2,248 | |
| | |
| | 2,012 | | | Alphabet, Inc., Class – C (Interactive Media & Services) (a) | | | 2,175 | |
| | |
| | 2,375 | | | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | | | 4,497 | |
| | |
| | 32,240 | | | Intercontinental Exchange Group, Inc. (Capital Markets) | | | 2,771 | |
| | | | | | | | |
| | | | | | | 11,691 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 1,640,976 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 1.55% | | | | |
| |
| | | | Brazil — 0.28% | |
| | |
| | 742,280 | | | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | | | 5,299 | |
| | | | | | | | |
| | |
| | | | Germany — 1.27% | | | | |
| | |
| | 6,532 | | | Bayerische Motoren Werke
Aktiengesellschaft – Preferred (Automobiles) | | | 405 | |
| | |
| | 18,086 | | | Porsche Automobil Holding SE – Preferred (Automobiles) | | | 1,171 | |
| | |
| | 131,721 | | | Volkswagen AG – Preferred (Automobiles) | | | 22,182 | |
| | | | | | | | |
| | | | | | | 23,758 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 29,057 | |
| | | | | | | | |
| | |
| | | | Right — 0.00% | | | | |
| | |
| | | | United Kingdom — 0.00% | | | | |
| | |
| | 68,073,451 | | | Rolls-Royce Holdings PLC – Preferred (Aerospace & Defense) | | | 86 | |
| | | | | | | | |
| | | | Total Right | | | 86 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Investment Companies — 8.75% | | | | |
| | |
| | 150,415 | | | Aberdeen Japan Investment Trust PLC | | $ | 1,069 | |
| | |
| | 95,437 | | | Aberforth Smaller Companies Trust PLC | | | 1,469 | |
| | |
| | 47,500 | | | Argo Investments Ltd. | | | 271 | |
| | |
| | 102,761 | | | Australian Foundation Investment Co. Ltd. | | | 451 | |
| | |
| | 1,437,497 | | | Baillie Gifford UK Growth Fund PLC | | | 3,453 | |
| | |
| | 219,906 | | | Biotech Growth Trust PLC (The) | | | 2,130 | |
| | |
| | 61,200 | | | BlackRock Enhanced Global Dividend Trust | | | 657 | |
| | |
| | 166,052 | | | BlackRock International Growth Fund | | | 933 | |
| | |
| | 431,357 | | | BlackRock World Mining Trust PLC | | | 2,056 | |
| | |
| | 1,841,681 | | | Dreyfus Treasury Securities Cash Management, Institutional Shares,
2.10% (c) | | | 1,842 | |
| | |
| | 227,464 | | | Dunedin Income Growth Investment Trust PLC | | | 793 | |
| | |
| | 363,425 | | | Edinburgh Dragon Trust PLC | | | 1,882 | |
| | |
| | 385,010 | | | Edinburgh Investment Trust PLC | | | 2,842 | |
| | |
| | 1,009,729 | | | European Assets Trust PLC | | | 1,448 | |
| | |
| | 428,708 | | | European Investment Trust PLC | | | 4,482 | |
| | |
| | 3,168,284 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (c) | | | 3,168 | |
| | |
| | 1,531,855 | | | Fidelity European Values PLC | | | 4,874 | |
| | |
| | 47,931 | | | First Trust Dynamic Europe Equity Income Fund | | | 672 | |
| | |
| | 218,000 | | | Henderson European Focus Trust PLC | | | 3,407 | |
| | |
| | 131,745 | | | Henderson EuroTrust PLC | | | 1,915 | |
| | |
| | 545,024 | | | Japan Smaller Capitalization Fund, Inc. | | | 4,637 | |
| | |
| | 575,684 | | | JPMorgan European Investment Trust PLC – Growth | | | 2,175 | |
| | |
| | 769,436 | | | JPMorgan European Smaller Companies Trust PLC | | | 3,595 | |
| | |
| | 739,097 | | | JPMorgan Japan Smaller Companies Investment Trust, Ordinary Shares | | | 3,609 | |
| | |
| | 832,201 | | | JPMorgan Japanese Investment Trust PLC | | | 4,655 | |
| | |
| | 588,132 | | | Mercantile Investment Trust PLC | | | 1,534 | |
| | |
| | 64,745 | | | Mexico Fund, Inc. (The) | | | 890 | |
| | |
| | 78,464 | | | Milton Corp Ltd. | | | 260 | |
| | |
| | 106,152 | | | Morgan Stanley China Fund, Inc. | | | 2,308 | |
| | |
| | 467,090 | | | Neuberger Berman MLP Income Fund, Inc. | | | 3,508 | |
| | |
| | 160,196 | | | New Germany Fund, Inc. (The) | | | 2,272 | |
| | |
| | 197,596 | | | NexPoint Credit Strategies | | | 3,738 | |
| | |
| | 779,273 | | | Oakley Capital Investments Ltd. | | | 2,266 | |
| | |
| | 849,096 | | | Perpetual Income & Growth Investment Trust | | | 3,308 | |
| | |
| | 2,391,719 | | | PM Capital Global Opportunities Fund Ltd. | | | 1,842 | |
| | |
| | 1,071,139 | | | Polar Capital Global Financials Trust PLC | | | 1,897 | |
| | |
| | 115,132 | | | Riverstone Energy Ltd. | | | 1,259 | |
| | |
| | 1,280,129 | | | Schroder Japan Growth Fund PLC | | | 2,980 | |
| | |
| | 67,688,760 | | | State Street Institutional Treasury Plus Money Market Fund, Trust
Class, 2.18% (c) | | | 67,689 | |
| | |
| | 2,659,534 | | | State Street Institutional U.S. Government Money Market Fund, Administrative Class, 2.05% (c) | | | 2,660 | |
See accompanying notes to financial statements.
184
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Investment Companies (continued) | | | | |
| | |
| | 68,042 | | | Tekla Healthcare Investors Fund | | $ | 1,366 | |
| | |
| | 237,084 | | | TR European Growth Trust PLC | | | 2,686 | |
| | |
| | 270,000 | | | Vietnam Enterprise Investments Ltd. | | | 1,495 | |
| | |
| | 99,290 | | | Voya Infrastructure Industrials and Materials Fund | | | 1,236 | |
| | |
| | 1,934,616 | | | Woodford Patient Capital Trust PLC | | | 1,376 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 165,055 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| | |
| | | | Repurchase Agreement — 0.23% | | | | |
| | |
| $ | 4,413 | | | Jefferies LLC, 2.50%, 7/1/19
(Purchased on 6/28/19, proceeds at maturity $4,414,392 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $4,501,755)^^ | | | 4,413 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 4,413 | |
| | | | | | | | |
| | | | Total Investments
(cost $1,713,951) — 97.53% | | | 1,839,587 | |
| | | | Other assets in excess of
liabilities — 2.47% | | | 46,589 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 1,886,176 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $23,830 (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 June 30, 2019. |
| (a) | Representsnon-income producing security. |
| (b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
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 as of June 30, 2019.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The Institutional
International Equity
Portfolio | | 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 | | | 11.93 | % | | | 42.12 | % | | | 18.73 | % | | | — | | | | 14.22 | % | | | — | | | | — | | | | 87.00 | % |
Preferred Stocks | | | 0.28 | % | | | 0.29 | % | | | 0.98 | % | | | — | | | | — | | | | — | | | | — | | | | 1.55 | % |
Right | | | — | | | | — | | | | 0.00 | % | | | — | | | | — | | | | — | | | | — | | | | 0.00 | % |
Investment Companies | | | — | | | | 0.19 | % | | | — | | | | 4.86 | % | | | 0.21 | % | | | 3.48 | % | | | 0.01 | % | | | 8.75 | % |
Repurchase Agreement | | | — | | | | 0.13 | % | | | — | | | | — | | | | 0.10 | % | | | — | | | | — | | | | 0.23 | % |
Other Assets (Liabilities) | | | 0.74 | % | | | 0.39 | % | | | 0.54 | % | | | (0.01 | )% | | | (0.07 | )% | | | 0.88 | % | | | 0.00 | % | | | 2.47 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Net Assets | | | 12.95 | % | | | 43.12 | % | | | 20.25 | % | | | 4.85 | % | | | 14.46 | % | | | 4.36 | % | | | 0.01 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
See accompanying notes to financial statements.
185
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description
| | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
MSCI EAFE Index Future | | 847 | | | 9/20/19 | | | $ | 81,452 | | | $ | 1,257 | |
| | | | | | | | | | | | | | |
| | | | | | | | $ | 81,452 | | | $ | 1,257 | |
| | | | | | | | | | | | | | |
| | Total Unrealized Appreciation | | | $ | 1,257 | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 1,257 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
186
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks — 92.87% | | | | |
| |
| | | | Argentina — 0.24% | |
| | |
| | 101,072 | | | Grupo Financiero Galicia SA, ADR (Banks) | | $ | 3,588 | |
| | | | | | | | |
| |
| | | | Bermuda — 0.38% | |
| | |
| | 9,361,733 | | | Beijing Enterprises Water Group Ltd. (Water Utilities) (a) | | | 5,564 | |
| | | | | | | | |
| |
| | | | Brazil — 6.27% | |
| | |
| | 1,571,900 | | | Ambev SA (Beverages) | | | 7,325 | |
| | |
| | 80,700 | | | B2W CIA Digital (Internet & Direct Marketing Retail) (b) | | | 688 | |
| | |
| | 356,900 | | | B3 SA – Brasil Bolsa Balcao (Capital Markets) | | | 3,482 | |
| | |
| | 816,770 | | | Banco Bradesco SA (Banks) | | | 7,116 | |
| | |
| | 871,900 | | | Banco do Brasil SA (Banks) | | | 12,249 | |
| | |
| | 701,750 | | | BB Seguridade Participacoes SA (Insurance) | | | 5,918 | |
| | |
| | 454,500 | | | BRF SA (Food Products) (b) | | | 3,495 | |
| | |
| | 69,300 | | | Centrais Electricas Brasileiras SA (Electric Utilities) | | | 636 | |
| | |
| | 405,000 | | | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | | | 1,763 | |
| | |
| | 137,400 | | | Embraer SA (Aerospace & Defense) | | | 695 | |
| | |
| | 686,500 | | | Itau Unibanco Holding SA (Banks) | | | 6,484 | |
| | |
| | 57,600 | | | JBS SA (Food Products) | | | 318 | |
| | |
| | 685,600 | | | Klabin SA (Containers & Packaging) | | | 2,920 | |
| | |
| | 53,300 | | | Localiza Rent A Car SA (Road & Rail) (a) | | | 569 | |
| | |
| | 190,740 | | | Lojas Renner SA (Multiline Retail) | | | 2,343 | |
| | |
| | 38,000 | | | Magazine Luiza SA (Multiline Retail) (a) | | | 2,090 | |
| | |
| | 220,000 | | | Natura Cosmeticos SA (Personal Products) | | | 3,237 | |
| | |
| | 830,600 | | | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | | | 6,495 | |
| | |
| | 384,900 | | | Raia Drogasil SA (Food & Staples Retailing) | | | 7,629 | |
| | |
| | 581,900 | | | Rumo SA (Road & Rail) (a)(b) | | | 3,142 | |
| | |
| | 96,500 | | | Suzano Papel e Celulose SA (Paper & Forest Products) | | | 826 | |
| | |
| | 715,100 | | | Tim Participacoes SA (Wireless Telecommunication Services) | | | 2,166 | |
| | |
| | 688,700 | | | Vale SA (Metals & Mining) | | | 9,295 | |
| | |
| | 196,900 | | | WEG SA (Machinery) | | | 1,095 | |
| | | | | | | | |
| | | | | | | 91,976 | |
| | | | | | | | |
| |
| | | | Cayman Islands — 0.50% | |
| | |
| | 40,500 | | | Ctrip.com International, ADR (Internet & Direct Marketing Retail) (b) | | | 1,495 | |
| | |
| | 2,073,000 | | | Geely Automobile Holdings Ltd. (Automobiles) | | | 3,554 | |
| | |
| | 62,000 | | | Kingsoft Corp. Ltd. (Software) (a)(b) | | | 134 | |
| | |
| | 22,000 | | | New Oriental Education & Technology Group, Inc., ADR (Diversified Consumer Services) (b) | | | 2,125 | |
| | | | | | | | |
| | | | | | | 7,308 | |
| | | | | | | | |
| |
| | | | Chile — 0.59% | |
| | |
| | 16,449 | | | Banco de Credito e Inversiones SA (Banks) | | | 1,135 | |
| | |
| | 1,022,816 | | | Empresas CMPC SA (Paper & Forest Products) | | | 2,808 | |
| | |
| | 9,436,244 | | | Enersis Chile SA (Electric Utilities) | | | 897 | |
| | |
| | 13,750,484 | | | Enersis SA (Electric Utilities) | | | 2,427 | |
| | |
| | 77,887 | | | LATAM Airlines Group SA (Airlines) | | | 733 | |
| | |
| | 104,319 | | | S.A.C.I. Falabella (Multiline Retail) | | | 681 | |
| | | | | | | | |
| | | | | | | 8,681 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | China — 22.90% | |
| | |
| | 263,765 | | | 360 Security Technology, Inc., Class – A (Software) (b) | | $ | 823 | |
| | |
| | 24,100 | | | 58.com, Inc., ADR (Interactive Media & Services) (b) | | | 1,498 | |
| | |
| | 12,829,000 | | | Agricultural Bank of China Ltd., H Shares (Banks) | | | 5,369 | |
| | |
| | 118,000 | | | Air China Ltd. (Airlines) | | | 119 | |
| | |
| | 305,970 | | | Alibaba Group Holding Ltd., ADR (Internet & Direct Marketing Retail) (b) | | | 51,847 | |
| | |
| | 314,000 | | | Aluminum Corporation of China Ltd., H Shares (Metals & Mining) (b) | | | 112 | |
| | |
| | 8,900 | | | Autohome, Inc., ADR (Interactive Media & Services) (b) | | | 762 | |
| | |
| | 97,600 | | | Avic Shenyang Aircraft Co. Ltd. (Aerospace & Defense) (b) | | | 413 | |
| | |
| | 186,000 | | | BAIC Motor Corp. Ltd. (Automobiles) (a) | | | 117 | |
| | |
| | 48,678 | | | Baidu, Inc., ADR (Interactive Media & Services) (b) | | | 5,713 | |
| | |
| | 18,657,100 | | | Bank of China Ltd., H Shares (Banks) | | | 7,873 | |
| | |
| | 5,579,000 | | | Bank of Communications Co. Ltd., H Shares (Banks) | | | 4,236 | |
| | |
| | 3,400 | | | Baozun, Inc., ADR (Internet & Direct Marketing Retail)^ (b) | | | 170 | |
| | |
| | 2,424,750 | | | Beijing Dabeinong Technology Group Co Ltd., Class – A (Food Products) | | | 1,871 | |
| | |
| | 152,400 | | | Beijing Shiji Information Technology Co. Ltd. (Software) | | | 805 | |
| | |
| | 122,000 | | | Brilliance China Automotive Holdings Ltd. (Automobiles) | | | 135 | |
| | |
| | 109,053 | | | BYD Co. Ltd. (Automobiles) | | | 807 | |
| | |
| | 194,500 | | | BYD Electronic International Co. Ltd. (Communications Equipment) | | | 278 | |
| | |
| | 2,828,000 | | | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) | | | 2,193 | |
| | |
| | 1,259,000 | | | China Conch Venture Holdings Ltd. (Machinery) | | | 4,448 | |
| | |
| | 24,794,350 | | | China Construction Bank Corp., H Shares (Banks) | | | 21,375 | |
| | |
| | 1,641,000 | | | China Everbright Bank Co. Ltd., H Shares (Banks) | | | 752 | |
| | |
| | 978,337 | | | China Evergrande Group (Real Estate Management & Development) | | | 2,741 | |
| | |
| | 3,712,000 | | | China Life Insurance Co. Ltd., H Shares (Insurance) | | | 9,175 | |
| | |
| | 22,400 | | | China Literature Ltd. (Media) (a)(b) | | | 105 | |
| | |
| | 27,000 | | | China Merchants Bank Co. Ltd. (Banks) | | | 142 | |
| | |
| | 1,427,000 | | | China Merchants Bank Co. Ltd., H Shares (Banks) | | | 7,082 | |
| | |
| | 654,000 | | | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | | | 1,113 | |
| | |
| | 109,224 | | | China Mobile Ltd., ADR (Wireless Telecommunication Services) | | | 4,947 | |
| | |
| | 989,500 | | | China Mobile Ltd. (Wireless Telecommunication Services) (a) | | | 9,008 | |
| | |
| | 197,450 | | | China Northern Rare Earth Group High-Tech Co. Ltd. (Metals & Mining) | | | 370 | |
| | |
| | 805,400 | | | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | | | 549 | |
| | |
| | 1,254,000 | | | China Resources Cement Holdings Ltd. (Construction Materials) (a) | | | 1,214 | |
See accompanying notes to financial statements.
187
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | China (continued) | |
| | |
| | 1,000,000 | | | China Resources Land Ltd. (Real Estate Management & Development) | | $ | 4,402 | |
| | |
| | 1,370,143 | | | China Resources Power Holdings Co. Ltd. (Independent Power and Renewable Electricity Producers) | | | 1,999 | |
| | |
| | 697,500 | | | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | | | 1,461 | |
| | |
| | 162,000 | | | China Southern Airlines Co. Ltd., H Shares (Airlines) | | | 113 | |
| | |
| | 1,214,000 | | | China Tower Corp. Ltd. (Diversified Telecommunication Services) (a) | | | 319 | |
| | |
| | 304,900 | | | China Vanke Co. Ltd., H Shares (Real Estate Management & Development) | | | 1,143 | |
| | |
| | 485,000 | | | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | | | 264 | |
| | |
| | 192,000 | | | Cifi Holdings Group Co. Ltd. (Real Estate Management & Development) | | | 127 | |
| | |
| | 3,170,000 | | | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | | | 5,407 | |
| | |
| | 177,000 | | | Cosco Shipping Holdings Co. Ltd. (Marine) (b) | | | 130 | |
| | |
| | 3,599,000 | | | Country Garden Holdings Co. Ltd. (Real Estate Management & Development) (a) | | | 5,471 | |
| | |
| | 413,678 | | | Country Garden Services Holdings Co. Ltd., Series S (Commercial Services & Supplies) (a) | | | 956 | |
| | |
| | 511,700 | | | ENN Energy Holdings Ltd. (Gas Utilities) | | | 4,980 | |
| | |
| | 133,400 | | | Focus Media Information Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) (b) | | | 103 | |
| | |
| | 18,200 | | | Foshan Haitian Flavouring & Food Co. Ltd. (Food Products) | | | 279 | |
| | |
| | 142,000 | | | Future Land Development Holdings Ltd. (Real Estate Management & Development) (a) | | | 187 | |
| | |
| | 2,284,000 | | | Fuyao Glass Industry Group Co. Ltd. (Auto Components) | | | 7,093 | |
| | |
| | 18,700 | | | GDS Holdings Ltd., ADR (IT Services) (b) | | | 703 | |
| | |
| | 78,000 | | | Genscript Biotech Corp. (Life Sciences Tools & Services)^ (a)(b) | | | 196 | |
| | |
| | 164,500 | | | Great Wall Motor Co. Ltd., H Shares (Automobiles)^ | | | 118 | |
| | |
| | 19,100 | | | Gree Electric Appliances, Inc. of Zhuhai (Household Durables) | | | 154 | |
| | |
| | 598,000 | | | Guangzhou Automobile Group Co. Ltd., H Shares (Automobiles) | | | 639 | |
| | |
| | 100,900 | | | Iflytek Co. Ltd. (Software) (b) | | | 489 | |
| | |
| | 22,635,440 | | | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | | | 16,523 | |
| | |
| | 11,100 | | | iQiyi, Inc., ADR (Entertainment) (b) | | | 229 | |
| | |
| | 140,900 | | | JD.com, Inc., ADR (Internet & Direct Marketing Retail) (b) | | | 4,268 | |
| | |
| | 1,516,000 | | | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | | | 2,158 | |
| | |
| | 230,703 | | | Jiangsu Hengrui Medicine Co. Ltd. (Pharmaceuticals) | | | 2,220 | |
| | |
| | 376,000 | | | Kaisa Group Holdings Ltd. (Real Estate Management & Development) | | | 186 | |
| | |
| | 572,000 | | | Kingdee International Software Group Co. Ltd. (Software) (a) | | | 620 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | China (continued) | |
| | |
| | 203,210 | | | Luxshare Precision Industry Co. Ltd. (Electrical Equipment) | | $ | 737 | |
| | |
| | 181,800 | | | Meinian Onehealth Healthcare Holdings Co. Ltd. (Health Care Providers & Services) | | | 331 | |
| | |
| | 352,500 | | | Meitu, Inc. (Technology Hardware, Storage & Peripherals)^ (a)(b) | | | 114 | |
| | |
| | 29,200 | | | Meituan Dianping (Internet & Direct Marketing Retail) (b) | | | 256 | |
| | |
| | 562,121 | | | Midea Group Co. Ltd., Class – A (Household Durables) | | | 4,260 | |
| | |
| | 34,300 | | | Momo, Inc., ADR (Interactive Media & Services) | | | 1,228 | |
| | |
| | 8,139 | | | NetEase, Inc., ADR (Entertainment) | | | 2,082 | |
| | |
| | 5,300 | | | Noah Holdings Ltd., ADR (Capital Markets) (b) | | | 226 | |
| | |
| | 77,290 | | | O-FILM Tech Co. Ltd. (Electronic Equipment, Instruments & Components) (b) | | | 89 | |
| | |
| | 42,100 | | | Perfect World Co. Ltd., Class – A (Entertainment) | | | 158 | |
| | |
| | 12,550,000 | | | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | | | 6,920 | |
| | |
| | 8,621 | | | Pinduoduo, Inc., ADR (Internet & Direct Marketing Retail) (b) | | | 178 | |
| | |
| | 1,880,500 | | | Ping An Insurance (Group) Company of China Ltd. (Insurance) | | | 22,614 | |
| | |
| | 125,800 | | | Rongsheng Petro Chemical Co. Ltd., Class – A (Chemicals) | | | 221 | |
| | |
| | 2,803,500 | | | Semiconductor Manufacturing International Corp. (Semiconductors & Semiconductor Equipment)^ (b) | | | 3,125 | |
| | |
| | 92,538 | | | Shandong Buchang Pharmaceuticals Co Ltd., Class – A (Pharmaceuticals) | | | 348 | |
| | |
| | 181,000 | | | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | | | 392 | |
| | |
| | 2,578,000 | | | Shanghai Pharmaceuticals Holding Co. Ltd., H Shares (Health Care Providers & Services) | | | 5,068 | |
| | |
| | 873,000 | | | Shimao Property Holdings Ltd. (Real Estate Management & Development) | | | 2,660 | |
| | |
| | 1,147,500 | | | SOHO China Ltd. (Real Estate Management & Development) | | | 406 | |
| | |
| | 88,865 | | | Songcheng Performance Development Co. Ltd., Class – A (Hotels, Restaurants & Leisure) | | | 300 | |
| | |
| | 23,800 | | | Spring Airlines Co. Ltd., Class – A (Airlines) | | | 155 | |
| | |
| | 110,000 | | | Sunac China Holdings Ltd. (Real Estate Management & Development) (a) | | | 540 | |
| | |
| | 52,900 | | | Sunny Optical Technology Group Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 547 | |
| | |
| | 76,200 | | | TAL Education Group, ADR (Diversified Consumer Services) (b) | | | 2,903 | |
| | |
| | 1,380,650 | | | Tencent Holdings Ltd. (Interactive Media & Services) (a) | | | 62,463 | |
| | |
| | 15,400 | | | Tencent Music Entertainment Group, ADR (Entertainment)^ (b) | | | 231 | |
| | |
| | 126,381 | | | Tianqi Lithium Corp. (Chemicals) | | | 466 | |
| | |
| | 56,563 | | | Vipshop Holdings Ltd., ADR (Internet & Direct Marketing Retail) (b) | | | 488 | |
| | |
| | 495,575 | | | Walvax Biotechnology Co Ltd., Class – A (Biotechnology) (b) | | | 2,049 | |
See accompanying notes to financial statements.
188
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Common Stocks (continued) | |
| |
| | | | China (continued) | |
| | |
| | 8,500 | | | Weibo Corp., ADR (Interactive Media & Services) (b) | | $ | 370 | |
| | |
| | 26,500 | | | Wuxi Biologics Cayman, Inc. (Life Sciences Tools & Services) (a)(b) | | | 237 | |
| | |
| | 170,000 | | | Xiaomi Corp. (Technology Hardware, Storage & Peripherals)^ (a)(b) | | | 218 | |
| | |
| | 39,000 | | | Yihai International Holdings (Food Products) | | | 202 | |
| | |
| | 140 | | | Yonyou Network Technology Co. Ltd. (Software) | | | 1 | |
| | |
| | 8,800 | | | Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. (Pharmaceuticals) | | | 148 | |
| | |
| | 1,094,000 | | | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | | | 1,153 | |
| | |
| | 63,500 | | | Zhongsheng Group Holdings Ltd. (Specialty Retail) | | | 177 | |
| | |
| | 50,300 | | | ZTE Corp. (Communications Equipment) (b) | | | 240 | |
| | |
| | 12,800 | | | Zto Express Cayman, Inc., ADR (Air Freight & Logistics) | | | 245 | |
| | | | | | | | |
| | | | | | | 335,645 | |
| | | | | | | | |
| |
| | | | Colombia — 0.30% | |
| | |
| | 4,781,233 | | | Ecopetrol SA (Oil, Gas & Consumable Fuels) | | | 4,348 | |
| | | | | | | | |
| |
| | | | Czech Republic — 0.05% | |
| | |
| | 225,688 | | | Moneta Money Bank A/S (Banks) (a) | | | 774 | |
| | | | | | | | |
| |
| | | | Egypt — 0.20% | |
| | |
| | 658,531 | | | Commercial International Bank Egypt SAE (Banks) | | | 2,917 | |
| | | | | | | | |
| |
| | | | Greece — 0.29% | |
| | |
| | 292,502 | | | Hellenic Telecommunication Organization SA (Diversified Telecommunication Services) | | | 4,323 | |
| | | | | | | | |
| |
| | | | Hong Kong — 3.12% | |
| | |
| | 1,752,000 | | | AIA Group Ltd. (Insurance) | | | 18,920 | |
| | |
| | 6,640,000 | | | Alibaba Pictures Group Ltd. (Entertainment) (b) | | | 1,428 | |
| | |
| | 144,000 | | | China Ding Yi Feng Holdings Ltd. (Capital Markets) | | | 426 | |
| | |
| | 1,745,182 | | | China Everbright International Ltd. (Commercial Services & Supplies) | | | 1,612 | |
| | |
| | 2,062,000 | | | China Overseas Land & Investment Ltd. (Real Estate Management & Development) | | | 7,611 | |
| | |
| | 72,000 | | | CSPC Pharmaceutical Group Ltd. (Pharmaceuticals) (a) | | | 116 | |
| | |
| | 3,842,500 | | | Dali Foods Group Co. Ltd. (Food Products) | | | 2,550 | |
| | |
| | 1,172,000 | | | Far East Horizon Ltd. (Diversified Financial Services) (a) | | | 1,199 | |
| | |
| | 2,368,000 | | | Franshion Properties China Ltd. (Real Estate Management & Development) (a) | | | 1,440 | |
| | |
| | 10,347,500 | | | Fullshare Holdings Ltd. (Electrical Equipment)^ (b) | | | 643 | |
| | |
| | 62,400 | | | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Management & Development) | | | 120 | |
| | |
| | 592,500 | | | Hengan International Group Co. Ltd. (Personal Products) | | | 4,363 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Hong Kong (continued) | |
| | |
| | 25,200 | | | Hutchison China Meditech Ltd., ADR (Pharmaceuticals)^ (b) | | $ | 555 | |
| | |
| | 117,000 | | | KWG Group Holdings Ltd. (Real Estate Management & Development) | | | 119 | |
| | |
| | 1,384,500 | | | Samsonite International SA (Textiles, Apparel & Luxury Goods) | | | 3,186 | |
| | |
| | 150,000 | | | Sino Biopharmaceutiical Ltd. (Pharmaceuticals) | | | 153 | |
| | |
| | 678,000 | | | Sino-Ocean Land Holdings Ltd. (Real Estate Management & Development) | | | 288 | |
| | |
| | 4,500,000 | | | Yuexiu Property Co. Ltd. (Real Estate Management & Development) | | | 1,020 | |
| | | | | | | | |
| | | | | | | 45,749 | |
| | | | | | | | |
| |
| | | | Hungary — 0.64% | |
| | |
| | 228,298 | | | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | | | 2,537 | |
| | |
| | 86,621 | | | OTP Bank Nyrt PLC (Banks) | | | 3,453 | |
| | |
| | 185,903 | | | Richter Gedeon Nyrt (Pharmaceuticals) | | | 3,428 | |
| | | | | | | | |
| | | | | | | 9,418 | |
| | | | | | | | |
| |
| | | | India — 10.13% | |
| | |
| | 876,877 | | | Adani Ports and Special Economic Zone Ltd. (Transportation Infrastructure) | | | 5,211 | |
| | |
| | 319,100 | | | Ambuja Cements Ltd. (Construction Materials) | | | 984 | |
| | |
| | 265,087 | | | Aurobindo Pharma Ltd. (Pharmaceuticals) (a) | | | 2,336 | |
| | |
| | 88,627 | | | Avenue Supermarts Ltd. (Food & Staples Retailing) (a)(b) | | | 1,794 | |
| | |
| | 387,549 | | | Axis Bank Ltd. (Banks) | | | 4,539 | |
| | |
| | 63,617 | | | Bajaj Auto Ltd. (Automobiles) | | | 2,606 | |
| | |
| | 43,704 | | | Bajaj Finance Ltd. (Consumer Finance) (a) | | | 2,330 | |
| | |
| | 8,504 | | | Bajaj Finserv Ltd. (Insurance) | | | 1,050 | |
| | |
| | 243,767 | | | Bharat Petroleum Corp. Ltd. (Oil, Gas & Consumable Fuels) | | | 1,381 | |
| | |
| | 11,337 | | | Britannia Industries Ltd. (Food Products) | | | 451 | |
| | |
| | 8,842,285 | | | Chennai Super Kings Cricket Ltd. (Entertainment) (b) | | | — | |
| | |
| | 1,201,162 | | | Coal India Ltd. (Oil, Gas & Consumable Fuels) | | | 4,416 | |
| | |
| | 184,702 | | | Dr. Reddy’s Laboratories Ltd., ADR (Pharmaceuticals) | | | 6,921 | |
| | |
| | 1,202 | | | Eicher Motors Ltd. (Automobiles) (a) | | | 333 | |
| | |
| | 239,866 | | | GAIL India Ltd. (Gas Utilities) | | | 1,084 | |
| | |
| | 66,845 | | | HCL Technologies Ltd. (IT Services) | | | 1,031 | |
| | |
| | 119,232 | | | Hero MotoCorp Ltd. (Automobiles) | | | 4,460 | |
| | |
| | 786,325 | | | Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | | | 24,971 | |
| | |
| | 1,220,719 | | | ICICI Bank Ltd. (Banks) | | | 7,728 | |
| | |
| | 77,142 | | | Indiabulls Housing Finance Ltd. (Thrifts & Mortgage Finance) | | | 679 | |
| | |
| | 389,156 | | | Infosys Ltd. (IT Services) | | | 4,154 | |
| | |
| | 1,317,147 | | | ITC Ltd. (Tobacco) (a) | | | 5,224 | |
| | |
| | 760,059 | | | Mahindra & Mahindra Ltd. (Automobiles) | | | 7,216 | |
| | |
| | 837,768 | | | NTPC Ltd. (Independent Power and Renewable Electricity Producers) (a) | | | 1,716 | |
| | |
| | 562,281 | | | Oil & Natural Gas Corp. Ltd. (Oil, Gas & Consumable Fuels) | | | 1,367 | |
| | |
| | 19,352 | | | Pidilite Industries Ltd. (Chemicals) | | | 340 | |
See accompanying notes to financial statements.
189
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | India (continued) | |
| | |
| | 546,399 | | | Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) (b) | | $ | 9,917 | |
| | |
| | 136,393 | | | Rural Electrification Corp. Ltd. (Diversified Financial Services) | | | 326 | |
| | |
| | 382,804 | | | Sesa Sterlite Ltd. (Metals & Mining) | | | 967 | |
| | |
| | 5,607 | | | Shree Cement Ltd. (Construction Materials) | | | 1,771 | |
| | |
| | 1,384,651 | | | State Bank of India (Banks) (a)(b) | | | 7,247 | |
| | |
| | 630,159 | | | Tata Consultancy Services Ltd. (IT Services) (a) | | | 20,337 | |
| | |
| | 226,883 | | | Tata Power Co. Ltd. (Electric Utilities) | | | 227 | |
| | |
| | 499,758 | | | Tata Steel Ltd. (Metals & Mining) | | | 3,653 | |
| | |
| | 19,873 | | | Titan Co. Ltd. (Textiles, Apparel & Luxury Goods) | | | 384 | |
| | |
| | 41,901 | | | Ultra Tech Cement Ltd. (Construction Materials) | | | 2,764 | |
| | |
| | 222,144 | | | United Spirits Ltd. (Beverages) (b) | | | 1,883 | |
| | |
| | 1,127,086 | | | Wipro Ltd. (IT Services) (a) | | | 4,589 | |
| | | | | | | | |
| | | | | | | 148,387 | |
| | | | | | | | |
| |
| | | | Indonesia — 2.24% | |
| | |
| | 687,800 | | | Indah Kiat Pulp & Paper TBK (Paper & Forest Products) | | | 457 | |
| | |
| | 286,100 | | | Pabrik Kertas Tjiwi (Paper & Forest Products) | | | 255 | |
| | |
| | 1,627,800 | | | PT Astra International Tbk (Automobiles) | | | 859 | |
| | |
| | 2,398,000 | | | PT Bank Central Asia Tbk (Banks) | | | 5,090 | |
| | |
| | 16,210,000 | | | PT Bank Rakyat Indonesia Persero Tbk (Banks) | | | 5,005 | |
| | |
| | 2,244,400 | | | PT Charoen Pokphand Indonesia Tbk (Food Products) | | | 752 | |
| | |
| | 436,600 | | | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | | | 617 | |
| | |
| | 2,506,800 | | | PT Indofood Sukses Makmur Tbk (Food Products) | | | 1,247 | |
| | |
| | 64,342,700 | | | PT Kalbe Farma Tbk (Pharmaceuticals) | | | 6,646 | |
| | |
| | 3,254,500 | | | PT Perusahaan Gas Negara Tbk (Gas Utilities) | | | 486 | |
| | |
| | 913,200 | | | PT Semen Gresik (Persero) Tbk (Construction Materials) | | | 748 | |
| | |
| | 29,998,350 | | | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) (a) | | | 8,794 | |
| | |
| | 967,300 | | | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | | | 1,930 | |
| | | | | | | | |
| | | | | | | 32,886 | |
| | | | | | | | |
| |
| | | | Japan — 0.55% | |
| | |
| | 166,700 | | | SoftBank Group Corp. (Wireless Telecommunication Services) | | | 8,030 | |
| | | | | | | | |
| |
| | | | Malaysia — 1.70% | |
| | |
| | 741,500 | | | AMMB Holdings Berhad (Banks) | | | 759 | |
| | |
| | 2,624,600 | | | Dialog Group Berhad (Energy Equipment & Services) | | | 2,075 | |
| | |
| | 281,400 | | | Hartalega Holdings Berhad (Health Care Equipment & Supplies) | | | 357 | |
| | |
| | 1,213,100 | | | IHH Healthcare Berhad (Health Care Providers & Services) | | | 1,705 | |
| | |
| | 2,304,300 | | | IOI Corp. Berhad (Food Products) | | | 2,372 | |
| | |
| | 1,648,214 | | | Malayan Banking Berhad (Banks) | | | 3,546 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Malaysia (continued) | |
| | |
| | 741,400 | | | Maxis Berhad (Wireless Telecommunication Services) (a) | | $ | 999 | |
| | |
| | 2,366,800 | | | Press Metal Aluminum Holdings (Metals & Mining) | | | 2,521 | |
| | |
| | 715,900 | | | Public Bank Berhad (Banks) | | | 3,988 | |
| | |
| | 1,466,600 | | | Ql Resources Berhad (Food Products) | | | 2,429 | |
| | |
| | 1,695,900 | | | Sime Darby Berhad (Industrial Conglomerates) | | | 929 | |
| | |
| | 1,695,900 | | | Sime Darby Plantation Berhad (Food Products) | | | 2,021 | |
| | |
| | 1,695,900 | | | Sime Darby Property Berhad (Real Estate Management & Development) | | | 423 | |
| | |
| | 310,700 | | | Top Glove Corp. Berhad (Health Care Equipment & Supplies) | | | 370 | |
| | |
| | 1,566,312 | | | YTL Corp. Berhad (Multi-Utilities) | | | 425 | |
| | | | | | | | |
| | | | | | | 24,919 | |
| | | | | | | | |
| |
| | | | Mexico — 2.59% | |
| | |
| | 5,161,500 | | | America Movil SAB de CV (Wireless Telecommunication Services) | | | 3,758 | |
| | |
| | 3,680,100 | | | CEMEX SAB de CV (Construction Materials) | | | 1,551 | |
| | |
| | 415,300 | | | Coca-Cola Femsa SAB de CV (Beverages) | | | 2,578 | |
| | |
| | 573,300 | | | Fibra Uno Amdinistracion SA (Equity Real Estate Investment Trusts) (a) | | | 759 | |
| | |
| | 97,400 | | | Fomento Economico Mexicano SAB de CV, ADR (Beverages) | | | 9,424 | |
| | |
| | 204,305 | | | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Transportation Infrastructure) | | | 3,312 | |
| | |
| | 363,500 | | | Grupo Bimbo SAB de CV, Series A (Food Products) | | | 758 | |
| | |
| | 802,500 | | | Grupo Financiero Banorte SAB de CV (Banks) | | | 4,657 | |
| | |
| | 1,725,445 | | | Grupo Mexico SAB de CV, Series B (Metals & Mining) | | | 4,583 | |
| | |
| | 255,700 | | | Grupo Televisa SAB de CV (Media) | | | 432 | |
| | |
| | 1,540,500 | | | Kimberly-Clark de Mexico SAB de CV, A Shares (Household Products) | | | 2,865 | |
| | |
| | 1,586,925 | | | Mexichem SAB de CV (Chemicals) | | | 3,332 | |
| | | | | | | | |
| | | | | | | 38,009 | |
| | | | | | | | |
| |
| | | | Nigeria — 0.16% | |
| | |
| | 25,053,994 | | | Guaranty Trust Bank PLC (Banks) | | | 2,288 | |
| | | | | | | | |
| |
| | | | Peru — 0.80% | |
| | |
| | 166,956 | | | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | | | 2,783 | |
| | |
| | 39,400 | | | Credicorp Ltd. (Banks) | | | 9,019 | |
| | | | | | | | |
| | | | | | | 11,802 | |
| | | | | | | | |
| |
| | | | Philippines — 1.24% | |
| | |
| | 1,181,140 | | | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) (a) | | | 1,268 | |
| | |
| | 719,500 | | | Aboitiz Power Corp. (Independent Power and Renewable Electricity Producers) | | | 489 | |
| | |
| | 2,027,900 | | | Alliance Global Group, Inc. (Industrial Conglomerates) | | | 611 | |
| | |
| | 4,014,700 | | | DMCI Holdings, Inc. (Industrial Conglomerates) | | | 807 | |
| | |
| | 2,919,232 | | | Metropolitan Bank & Trust Co. (Banks) | | | 4,063 | |
| | |
| | 17,765 | | | PLDT, Inc. (Wireless Telecommunication Services) | | | 446 | |
See accompanying notes to financial statements.
190
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | Philippines (continued) | |
| | |
| | 553,345 | | | SM Investments Corp. (Industrial Conglomerates) | | $ | 10,468 | |
| | | | | | | | |
| | | | | | | 18,152 | |
| | | | | | | | |
| |
| | | | Poland — 0.70% | |
| | |
| | 207,931 | | | Bank Pekao SA (Banks)^ (a) | | | 6,235 | |
| | |
| | 4,987 | | | CD Projekt SA (Entertainment) | | | 289 | |
| | |
| | 278,900 | | | Powszechny Zaklad Ubezpieczen SA (Insurance) (a) | | | 3,266 | |
| | |
| | 269,900 | | | Telekomunikacja Polska SA (Diversified Telecommunication Services) (b) | | | 484 | |
| | | | | | | | |
| | | | | | | 10,274 | |
| | | | | | | | |
| | |
| | | | Qatar — 0.43% | | | | |
| | |
| | 1,361,550 | | | Industries Qatar QSC (Industrial Conglomerates) | | | 4,301 | |
| | |
| | 277,120 | | | Qatar National Bank (Banks) | | | 1,449 | |
| | |
| | 427,550 | | | The Commercial Bank of Qatar QSC (Banks) | | | 539 | |
| | | | | | | | |
| | | | | | | 6,289 | |
| | | | | | | | |
| | |
| | | | Russia — 2.84% | | | | |
| | |
| | 280,855 | | | Gazprom OAO, ADR (Oil, Gas & Consumable Fuels) | | | 2,061 | |
| | |
| | 939,810 | | | Gazprom OAO (Oil, Gas & Consumable Fuels) | | | 3,467 | |
| | |
| | 80,745 | | | LUKOIL (Oil, Gas & Consumable Fuels) | | | 6,777 | |
| | |
| | 39,319 | | | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | | | 3,304 | |
| | |
| | 39,088 | | | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | | | 3,304 | |
| | |
| | 27,234 | | | Novatek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | | | 5,789 | |
| | |
| | 1,365,809 | | | Sberbank (Banks) | | | 5,143 | |
| | |
| | 231,938 | | | Sberbank of Russia, ADR (Banks) | | | 3,573 | |
| | |
| | 113,164 | | | Severstal, Registered Shares, GDR (Metals & Mining) | | | 1,907 | |
| | |
| | 55,190 | | | Tatneft, Class – S (Oil, Gas & Consumable Fuels) | | | 677 | |
| | |
| | 3,630,296 | | | The Moscow Exchange (Capital Markets) | | | 5,177 | |
| | |
| | 814,600,000 | | | VTB Bank OJSC (Banks) | | | 514 | |
| | | | | | | | |
| | | | | | | 41,693 | |
| | | | | | | | |
| | |
| | | | Saudi Arabia — 0.00% | | | | |
| | |
| | 15 | | | Saudi Basic Industries Corp. (Chemicals) | | | — | |
| | | | | | | | |
| | |
| | | | South Africa — 7.16% | | | | |
| | |
| | 50,032 | | | Anglo Platinum Ltd. (Metals & Mining) | | | 2,978 | |
| | |
| | 84,699 | | | AngloGold Ashanti Ltd. (Metals & Mining) | | | 1,519 | |
| | |
| | 69,391 | | | Bid Corp. Ltd. (Food & Staples Retailing) | | | 1,512 | |
| | |
| | 525,842 | | | Clicks Group Ltd. (Food & Staples Retailing) | | | 7,669 | |
| | |
| | 491,016 | | | Discovery Ltd. (Insurance) | | | 5,208 | |
| | |
| | 126,330 | | | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) (a) | | | 1,548 | |
| | |
| | 1,240,563 | | | FirstRand Ltd. (Diversified Financial Services) (a) | | | 6,045 | |
| | |
| | 1,116,666 | | | Growthpoint Properties Ltd. (Equity Real Estate Investment Trusts) | | | 1,929 | |
| | |
| | 51,643 | | | Liberty Holdings Ltd. (Insurance) | | | 388 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | South Africa (continued) | | | | |
| | |
| | 628,024 | | | Life Healthcare Group Holdings Ltd. (Health Care Providers & Services) | | $ | 1,003 | |
| | |
| | 542,500 | | | MMI Holdings Ltd. (Insurance) (a) | | | 731 | |
| | |
| | 251,155 | | | Mondi Ltd. (Paper & Forest Products) | | | 5,649 | |
| | |
| | 286,830 | | | MTN Group Ltd. (Wireless Telecommunication Services) | | | 2,170 | |
| | |
| | 97,944 | | | MultiChoice Group Ltd. (Media) (b) | | | 932 | |
| | |
| | 195,604 | | | Naspers Ltd. (Media) | | | 47,372 | |
| | |
| | 1,249,711 | | | Redefine Properties Ltd. (Equity Real Estate Investment Trusts) | | | 803 | |
| | |
| | 195,083 | | | Sasol Ltd. (Chemicals) | | | 4,853 | |
| | |
| | 555,927 | | | Standard Bank Group Ltd. (Banks) | | | 7,770 | |
| | |
| | 233,794 | | | The Foschini Group Ltd. (Specialty Retail) | | | 2,998 | |
| | |
| | 374,200 | | | Truworths International Ltd. (Specialty Retail) | | | 1,858 | |
| | | | | | | | |
| | | | | | | 104,935 | |
| | | | | | | | |
| | |
| | | | South Korea — 10.85% | | | | |
| | |
| | 21,938 | | | Amorepacific Corp. (Personal Products) | | | 3,134 | |
| | |
| | 8,871 | | | Celltrion Healthcare Co. Ltd. (Health Care Providers & Services) (b) | | | 434 | |
| | |
| | 7,040 | | | Celltrion Pharma, Inc. (Pharmaceuticals) (b) | | | 294 | |
| | |
| | 18,128 | | | Celltrion, Inc. (Biotechnology) (b) | | | 3,231 | |
| | |
| | 11,088 | | | CJ Cheiljedang Corp. (Food Products) | | | 2,854 | |
| | |
| | 29,220 | | | Coway Co. Ltd. (Household Durables) | | | 1,959 | |
| | |
| | 9,828 | | | Daewoo International Corp. (Trading Companies & Distributors) | | | 157 | |
| | |
| | 87,500 | | | Daewoo Securities Co. Ltd. (Capital Markets) | | | 621 | |
| | |
| | 20,870 | | | Dongbu Insurance Co. Ltd. (Insurance) (a) | | | 1,072 | |
| | |
| | 19,247 | | | E-Mart Co. Ltd. (Food & Staples Retailing) | | | 2,334 | |
| | |
| | 14,654 | | | Fila Korea Ltd. (Textiles, Apparel & Luxury Goods) | | | 973 | |
| | |
| | 49,700 | | | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | | | 2,207 | |
| | |
| | 46,765 | | | Hana Financial Group, Inc. (Banks) | | | 1,516 | |
| | |
| | 79,077 | | | Hankook Tire Co. Ltd. (Auto Components) | | | 2,404 | |
| | |
| | 578,076 | | | Hanon Systems (Auto Components) | | | 5,842 | |
| | |
| | 11,339 | | | HLB, Inc. (Leisure Products)^ (b) | | | 348 | |
| | |
| | 7,065 | | | Hotel Shilla Co. Ltd. (Specialty Retail) | | | 595 | |
| | |
| | 142,818 | | | Hynix Semiconductor, Inc. (Semiconductors & Semiconductor Equipment) | | | 8,592 | |
| | |
| | 55,978 | | | Hyundai Engineering & Construction Co. Ltd. (Construction & Engineering) | | | 2,603 | |
| | |
| | 23,571 | | | Hyundai Heavy Industries Co. Ltd. (Machinery) (b) | | | 2,422 | |
| | |
| | 18,178 | | | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | | | 448 | |
| | |
| | 24,181 | | | Hyundai Mobis Co. Ltd. (Auto Components) | | | 4,935 | |
| | |
| | 30,947 | | | Hyundai Motor Co. Ltd. (Automobiles) | | | 3,757 | |
| | |
| | 51,423 | | | Industrial Bank of Korea (Banks) | | | 626 | |
| | |
| | 109,700 | | | Kangwon Land, Inc. (Hotels, Restaurants & Leisure) | | | 2,875 | |
| | |
| | 81,753 | | | KB Financial Group, Inc. (Banks) (a) | | | 3,241 | |
| | |
| | 115,781 | | | Kia Motors Corp. (Automobiles) | | | 4,418 | |
| | |
| | 52,858 | | | Korea Electric Power Corp. (Electric Utilities) (b) | | | 1,170 | |
| | |
| | 106,000 | | | Korea Life Insurance Co. Ltd. (Insurance) | | | 301 | |
| | |
| | 48,479 | | | KT&G Corp. (Tobacco) | | | 4,138 | |
See accompanying notes to financial statements.
191
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| |
| | | | South Korea (continued) | |
| | |
| | 6,700 | | | Kumho Petro Chemical Co. Ltd. (Chemicals) | | $ | 566 | |
| | |
| | 133,270 | | | LG Display Co. Ltd. (Electronic Equipment, Instruments & Components) (b) | | | 2,066 | |
| | |
| | 630 | | | LG Household & Health Care Ltd. (Personal Products) | | | 718 | |
| | |
| | 22,275 | | | Naver Corp. (Interactive Media & Services) | | | 2,202 | |
| | |
| | 12,473 | | | NCsoft Corp. (Entertainment) | | | 5,161 | |
| | |
| | 88,865 | | | Pan Ocean Co. Ltd. (Marine) (b) | | | 358 | |
| | |
| | 16,203 | | | POSCO (Metals & Mining) | | | 3,440 | |
| | |
| | 6,713 | | | POSCO Chemical Co. Ltd. (Construction Materials)^ | | | 312 | |
| | |
| | 5,213 | | | Samsung Biologics Co. Ltd. (Life Sciences Tools & Services) (a)(b) | | | 1,447 | |
| | |
| | 16,220 | | | Samsung Card Co. Ltd. (Consumer Finance) | | | 537 | |
| | |
| | 10,104 | | | Samsung Electro-Mechanics Co. Ltd. (Electronic Equipment, Instruments & Components)^ | | | 860 | |
| | |
| | 957,315 | | | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 38,992 | |
| | |
| | 54,624 | | | Samsung Engineering Co. Ltd. (Construction & Engineering) (a)(b) | | | 813 | |
| | |
| | 35,627 | | | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | | | 8,271 | |
| | |
| | 4,798 | | | Samsung SDI Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 985 | |
| | |
| | 347,487 | | | Shinhan Financial Group Co. Ltd. (Banks) | | | 13,519 | |
| | |
| | 10,645 | | | Sillajen, Inc. (Biotechnology)^ (b) | | | 457 | |
| | |
| | 21,018 | | | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 2,898 | |
| | |
| | 4,528 | | | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | | | 1,016 | |
| | |
| | 67,894 | | | SK Telecom Co. Ltd., ADR (Wireless Telecommunication Services) | | | 1,680 | |
| | |
| | 2,268 | | | Viromed Co. Ltd. (Biotechnology) (b) | | | 332 | |
| | |
| | 226,272 | | | Woori Financial Group, Inc. (Banks) (a) | | | 2,754 | |
| | | | | | | | |
| | | | | | | 158,885 | |
| | | | | | | | |
| |
| | | | Taiwan — 10.57% | |
| | |
| | 74,000 | | | Airtac International Group (Machinery) | | | 832 | |
| | |
| | 1,595,672 | | | ASE Technology Holding Co. Ltd., Class – H (Semiconductors & Semiconductor Equipment) | | | 3,185 | |
| | |
| | 787,971 | | | Asia Cement Corp. (Construction Materials) | | | 1,208 | |
| | |
| | 338,000 | | | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,426 | |
| | |
| | 30,000 | | | Catcher Technology Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 216 | |
| | |
| | 1,187,000 | | | Cheng Shin Rubber Industry Co. Ltd. (Auto Components) | | | 1,534 | |
| | |
| | 383,049 | | | Chicony Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | | | 944 | |
| | |
| | 5,034,000 | | | China Development Financial Holding Corp. (Banks) | | | 1,537 | |
| | |
| | 1,219,000 | | | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | | | 4,434 | |
| | |
| | 2,939,000 | | | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | | | 1,928 | |
| | |
| | 5,218,803 | | | E.Sun Financial Holding Co. Ltd. (Banks) | | | 4,372 | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| |
| | | | Taiwan (continued) | |
| | |
| | 42,000 | | | ECLAT Textile Co. Ltd. (Textiles, Apparel & Luxury Goods) | | $ | 538 | |
| | |
| | 589,000 | | | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | | | 1,484 | |
| | |
| | 539,000 | | | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | | | 679 | |
| | |
| | 5,199,996 | | | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | | | 7,685 | |
| | |
| | 462,000 | | | Giant Manufacturing Co. Ltd. (Leisure Products) | | | 3,623 | |
| | |
| | 51,000 | | | Globalwafers Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 519 | |
| | |
| | 279,700 | | | Highwealth Construction Corp. (Real Estate Management & Development) | | | 445 | |
| | |
| | 178,000 | | | Hiwin Technologies Corp. (Machinery) | | | 1,495 | |
| | |
| | 1,201,000 | | | Hon Hai Precision Industry Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 2,997 | |
| | |
| | 839,000 | | | Inventec Corp. (Technology Hardware, Storage & Peripherals) | | | 667 | |
| | |
| | 27,000 | | | Largan Precision Co. Ltd. (Electronic Equipment, Instruments & Components) | | | 3,372 | |
| | |
| | 1,231,554 | | | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | | | 1,805 | |
| | |
| | 689,962 | | | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | | | 6,989 | |
| | |
| | 3,561,477 | | | Mega Financial Holding Co. Ltd. (Banks) | | | 3,545 | |
| | |
| | 58,000 | | | Nanya Technology Corp. (Semiconductors & Semiconductor Equipment) (a) | | | 121 | |
| | |
| | 206,000 | | | Novatek Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | | | 1,150 | |
| | |
| | 1,157,000 | | | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | | | 2,006 | |
| | |
| | 99,620 | | | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | | | 124 | |
| | |
| | 150,000 | | | Powertech Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 368 | |
| | |
| | 3,114,000 | | | President Enterprises Corp. (Food Products) | | | 8,296 | |
| | |
| | 2,409,000 | | | Quanta Computer, Inc. (Technology Hardware, Storage & Peripherals) | | | 4,691 | |
| | |
| | 309,000 | | | Realtek Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 2,276 | |
| | |
| | 179,280 | | | Ruentex Development Co. Ltd. (Real Estate Management & Development) | | | 257 | |
| | |
| | 225,000 | | | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | | | 548 | |
| | |
| | 163,000 | | | Shanghai Commercial & Savings Bank Ltd. (The) (Banks) | | | 295 | |
| | |
| | 1,940,200 | | | Standard Foods Corp. (Food Products) | | | 3,793 | |
| | |
| | 940,900 | | | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | | | 1,183 | |
| | |
| | 211,000 | | | Taimed Biologics, Inc. (Biotechnology) (b) | | | 1,081 | |
| | |
| | 1,317,800 | | | Taiwan Cement Corp. (Construction Materials) | | | 1,953 | |
| | |
| | 615,000 | | | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | | | 2,426 | |
| | |
| | 7,280,000 | | | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | | | 55,687 | |
See accompanying notes to financial statements.
192
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Common Stocks (continued) | | | | |
| | |
| | | | Taiwan (continued) | | | | |
| | |
| | 2,163,000 | | | Tatung Co. Ltd. (Household Durables) (b) | | $ | 1,308 | |
| | |
| | 1,000 | | | Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | | | 2 | |
| | |
| | 59,000 | | | Walsin Technology Corp. (Electronic Equipment, Instruments & Components) | | | 314 | |
| | |
| | 42,000 | | | Win Semiconductors Corp. (Semiconductors & Semiconductor Equipment) | | | 270 | |
| | |
| | 238,000 | | | Winbond Electronics Corp. (Semiconductors & Semiconductor Equipment) | | | 117 | |
| | |
| | 1,877,155 | | | Wistron Corp. (Technology Hardware, Storage & Peripherals) | | | 1,466 | |
| | |
| | 915,400 | | | WPG Holdings Ltd. (Electronic Equipment, Instruments & Components) | | | 1,190 | |
| | |
| | 29,000 | | | Yageo Corp. (Electronic Equipment, Instruments & Components) | | | 248 | |
| | |
| | 8,543,000 | | | Yuanta Financial Holding Co. Ltd. (Capital Markets) | | | 5,136 | |
| | | | | | | | |
| | | | | | | 154,765 | |
| | | | | | | | |
| | |
| | | | Thailand — 2.46% | | | | |
| | |
| | 275,000 | | | Advanced Info Service Public Co. Ltd. (Wireless Telecommunication Services) | | | 1,957 | |
| | |
| | 379,300 | | | Airports of Thailand PCL (Transportation Infrastructure) | | | 910 | |
| | |
| | 12,200 | | | Bangkok Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | | | 78 | |
| | |
| | 216,400 | | | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | | | 1,391 | |
| | |
| | 946,200 | | | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | | | 463 | |
| | |
| | 691,100 | | | Berli Jucker PCL (Food & Staples Retailing) | | | 1,139 | |
| | |
| | 3,111,600 | | | BTS Group Holdings PCL (Road & Rail) | | | 1,217 | |
| | |
| | 902,000 | | | Delta Electronics Public Co. Ltd. – NVDR (Electronic Equipment, Instruments & Components) | | | 4,584 | |
| | |
| | 688,700 | | | Energy Absolute PCL (Independent Power and Renewable Electricity Producers) | | | 1,253 | |
| | |
| | 415,000 | | | Gulf Energy Development PCL (Independent Power and Renewable Electricity Producers) | | | 1,665 | |
| | |
| | 837,700 | | | Kasikornbank Public Co. Ltd. (Banks) | | | 5,138 | |
| | |
| | 11,392,200 | | | Krung Thai Bank Public Co. Ltd., Registered Shares (Banks) | | | 7,246 | |
| | |
| | 682,900 | | | Minor International PCL (Hotels, Restaurants & Leisure) | | | 913 | |
| | |
| | 1,177,700 | | | Muangthai Capital PCL (Consumer Finance) | | | 2,172 | |
| | |
| | 429,142 | | | PTT Chemical Public Co. Ltd. (Chemicals) | | | 897 | |
| | |
| | 634,175 | | | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 2,801 | |
| | |
| | 108,400 | | | Robinson PCL (Multiline Retail) | | | 199 | |
| | |
| | 411,000 | | | Siam Commercial Bank Public Co. Ltd. – NVDR (Banks) | | | 1,871 | |
| | |
| | 98,100 | | | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | | | 213 | |
| | | | | | | | |
| | | | | | | 36,107 | |
| | | | | | | | |
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Turkey — 0.67% | | | | |
| | |
| | 230,178 | | | Aselsan Elektronik Sanayi VE Ticaret A/S (Aerospace & Defense) | | $ | 715 | |
| | |
| | 19,621 | | | Bim Birlesik Magazalar A/S (Food & Staples Retailing) | | | 270 | |
| | |
| | 5,204,399 | | | Enka Insaat ve Sanayi A/S (Industrial Conglomerates) | | | 4,921 | |
| | |
| | 693,800 | | | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | | | 944 | |
| | |
| | 1 | | | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class – D (Metals & Mining) | | | — | |
| | |
| | 162,200 | | | TAV Havalimanlari Holding A/S (Transportation Infrastructure) | | | 757 | |
| | |
| | 40,398 | | | Turk Hava Yollari Anonim Ortakligi A/S (Airlines) (b) | | | 90 | |
| | |
| | 989,228 | | | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) | | | 2,188 | |
| | | | | | | | |
| | | | | | | 9,885 | |
| | | | | | | | |
| | |
| | | | United Arab Emirates — 0.50% | | | | |
| | |
| | 622,475 | | | Abu Dhabi Commercial Bank PJSC (Banks) | | | 1,406 | |
| | |
| | 192,800 | | | DP World Ltd. (Transportation Infrastructure) | | | 3,066 | |
| | |
| | 488,800 | | | Dubai Islamic Bank PJSC (Banks) | | | 685 | |
| | |
| | 542,072 | | | National Bank of Abu Dhabi (Banks) | | | 2,197 | |
| | | | | | | | |
| | | | | | | 7,354 | |
| | | | | | | | |
| | |
| | | | United Kingdom — 1.73% | | | | |
| | |
| | 975,595 | | | Antofagasta PLC (Metals & Mining) | | | 11,522 | |
| | |
| | 223,519 | | | Unilever PLC (Personal Products) | | | 13,872 | |
| | | | | | | | |
| | | | | | | 25,394 | |
| | | | | | | | |
| | |
| | | | United States — 0.07% | | | | |
| | |
| | 6,800 | | | Southern Copper Corp. (Metals & Mining) | | | 264 | |
| | |
| | 17,200 | | | Yum China Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 795 | |
| | | | | | | | |
| | | | | | | 1,059 | |
| | | | | | | | |
| | | | Total Common Stocks | | | 1,361,404 | |
| | | | | | | | |
| | |
| | | | Preferred Stocks — 1.28% | | | | |
| | |
| | | | Brazil — 0.88% | | | | |
| | |
| | 484,200 | | | Banco Bradesco SA – Preferred (Banks) | | | 4,760 | |
| | |
| | 532,512 | | | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | | | 2,060 | |
| | |
| | 600,700 | | | Lojas Americanas SA – Preferred (Multiline Retail) (a) | | | 2,577 | |
| | |
| | 267,400 | | | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) | | | 1,909 | |
| | |
| | 108,935 | | | Petroleo Brasileiro SA – Preferred, ADR (Oil, Gas & Consumable Fuels) | | | 1,547 | |
| | | | | | | | |
| | | | | | | 12,853 | |
| | | | | | | | |
| | |
| | | | Chile — 0.01% | | | | |
| | |
| | 5,610 | | | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | | | 174 | |
| | | | | | | | |
| | |
| | | | Colombia — 0.04% | | | | |
| | |
| | 1,637,100 | | | Grupo Aval Acciones y Valores SA – Preferred (Banks) | | | 655 | |
| | | | | | | | |
| | |
| | | | South Korea — 0.35% | | | | |
| | |
| | 5,056 | | | Hyundai Motor Co. Ltd. – Preferred (Automobiles) | | | 347 | |
See accompanying notes to financial statements.
193
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | |
| Shares | | | Security Description | | Value
(000) | |
| | |
| | | | Preferred Stocks (continued) | | | | |
| | |
| | | | South Korea (continued) | | | | |
| | |
| | 7,683 | | | Hyundai Motor Co. Ltd. 2nd – Preferred (Automobiles) | | $ | 575 | |
| | |
| | 127,289 | | | Samsung Electronics Co. Ltd. – Preferred (Technology Hardware, Storage & Peripherals) | | | 4,222 | |
| | | | | | | | |
| | | | | | | 5,144 | |
| | | | | | | | |
| | | | Total Preferred Stocks | | | 18,826 | |
| | | | | | | | |
| | |
| | | | Rights — 0.00% | | | | |
| | |
| | | | Chile — 0.00% | | | | |
| | |
| | 4,482,699 | | | Enel Americas SA (Electric Utilities) (b) | | | 66 | |
| | | | | | | | |
| | |
| | | | South Korea — 0.00% | | | | |
| | |
| | 151 | | | Helixmith Co. Ltd. (Biotechnology) (b) | | | 4 | |
| | | | | | | | |
| | | | Total Rights | | | 70 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| | |
| | | | U.S. Treasury Obligation — 0.09% | | | | |
| | |
| $ | 1,345 | | | U.S. Treasury Bill, 2.05%, 9/12/19 (c)(d) | | | 1,339 | |
| | | | | | | | |
| | | | Total U.S. Treasury Obligation | | | 1,339 | |
| | | | | | | | |
| | |
| Shares | | | | | | |
| | |
| | | | Exchange-Traded Fund — 0.56% | | | | |
| | |
| | 250,000 | | | iShares MSCI Saudi Arabia ETF | | | 8,255 | |
| | | | | | | | |
| | | | Total Exchange-Traded Fund | | | 8,255 | |
| | | | | | | | |
| | |
| | | | Investment Companies — 3.37% | | | | |
| | |
| | 5,140,011 | | | Federated Treasury Obligations Fund, Institutional Shares, 2.22%^^ (e) | | | 5,140 | |
| | |
| | 44,316,737 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.18% (e) | | | 44,317 | |
| | | | | | | | |
| | | | Total Investment Companies | | | 49,457 | |
| | | | | | | | |
| | |
Principal
Amount
(000) | | | | | | |
| | |
| | | | Repurchase Agreement — 0.49% | | | | |
| | |
| $ | 7,160 | | | Jefferies LLC, 2.50%, 7/1/19 (Purchased on 6/28/19, proceeds at maturity $7,161,613 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $7,303,345)^^ | | | 7,160 | |
| | | | | | | | |
| | | | Total Repurchase Agreement | | | 7,160 | |
| | | | | | | | |
| | | | Total Investments
(cost $1,325,780) — 98.66% | | | 1,446,511 | |
| | | | Other assets in excess of
liabilities — 1.34% | | | 19,617 | |
| | | | | | | | |
| | | | Net Assets — 100.00% | | $ | 1,466,128 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $12,628 (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 June 30, 2019. |
| (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) | Representsnon-income producing security. |
| (c) | The rate disclosed represents effective yield at purchase. |
| (d) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
| (e) | The rate disclosed is the rate in effect on June 30, 2019. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
GDR — Global Depositary Receipt
NVDR —Non-Voting Depository Receipt
See accompanying notes to financial statements.
194
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | |
The Emerging Markets Portfolio | | Mellon
Investments
Corporation* | | | Parametric
Portfolio
Associates,
LLC | | | RBC Global
Asset
Management
(UK) Limited | | | Total | |
Common Stocks | | | 69.43 | % | | | — | | | | 23.44 | % | | | 92.87 | % |
| | | | |
Preferred Stocks | | | 1.28 | % | | | — | | | | — | | | | 1.28 | % |
| | | | |
Rights | | | 0.00 | % | | | — | | | | — | | | | 0.00 | % |
| | | | |
U.S. Treasury Obligation | | | 0.09 | % | | | — | | | | — | | | | 0.09 | % |
| | | | |
Exchange-Traded Fund | | | 0.56 | % | | | — | | | | — | | | | 0.56 | % |
| | | | |
Investment Companies | | | 0.91 | % | | | 2.04 | % | | | 0.42 | % | | | 3.37 | % |
| | | | |
Repurchase Agreement | | | 0.49 | % | | | — | | | | — | | | | 0.49 | % |
| | | | |
Other Assets (Liabilities) | | | 0.19 | % | | | 0.68 | % | | | 0.47 | % | | | 1.34 | % |
| | | | | | | | | | | | | | | | |
Total Net Assets | | | 72.95 | % | | | 2.72 | % | | | 24.33 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following table reflects the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
MSCI Emerging Markets Index Future | | 1,174 | | | 9/20/19 | | | $ | 61,835 | | | $ | 1,644 | |
| | | | | | | | | | | | | | |
| | | | | | | | $ | 61,835 | | | $ | 1,644 | |
| | | | | | | | | | | | | | |
| | Total Unrealized Appreciation | | | $ | 1,644 | |
| | |
| | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | 1,644 | |
| | | | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
195
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Asset Backed Securities — 0.35% | | | | | | | | | | | | |
| | | | |
| $ | 25 | | | CarMax Auto Owner Trust, Series2017-2, Class – A4, Callable 5/15/21 @ 100.00 | | | 2.25 | | | | 9/15/22 | | | $ | 25 | |
| | | | |
| | 100 | | | Citibank Credit Card Issuance Trust, Series2014-A5, Class – A5 | | | 2.68 | | | | 6/7/23 | | | | 102 | |
| | | | |
| | 20 | | | Honda Auto Receivables Owner Trust, Series2018-1, Class – A3,
Callable 7/15/21 @ 100.00 | | | 2.64 | | | | 2/15/22 | | | | 20 | |
| | | | |
| | 25 | | | Nissan Auto Receivables Owner Trust, Series2019-A, Class – A3,
Callable 2/15/23 @ 100.00 | | | 2.90 | | | | 10/16/23 | | | | 25 | |
| | | | |
| | 25 | | | Toyota Auto Receivables Owner Trust, Series2017-A, Class – A4,
Callable 12/15/20 @ 100.00 | | | 2.10 | | | | 9/15/22 | | | | 25 | |
| | | | |
| | 25 | | | Toyota Auto Receivables Owner Trust, Series2018-A, Class – A4,
Callable 11/15/21 @ 100.00 | | | 2.52 | | | | 5/15/23 | | | | 25 | |
| | | | |
| | 18 | | | World Financial Network Credit Card Master Trust, Series2016-A, Class – A | | | 2.03 | | | | 4/15/25 | | | | 18 | |
| | | | | | | | | | | | | | | | |
| | | | Total Asset Backed Securities | | | | | | | | | | | 240 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Collateralized Mortgage Obligations — 1.44% | | | | | | | | | | | | |
| | | | |
| | 40 | | | Bank, Series 2017-BNK8, Class – A3 | | | 3.23 | | | | 11/15/50 | | | | 42 | |
| | | | |
| | 25 | | | Bank, Series 2017-BNK9, Class – ASB | | | 3.47 | | | | 11/15/54 | | | | 26 | |
| | | | |
| | 10 | | | Benchmark Mortgage Trust, Series2019-B9, Class – A5 | | | 4.02 | | | | 3/15/52 | | | | 11 | |
| | | | |
| | 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 | | | | 21 | |
| | | | |
| | 25 | | | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class – A4 | | | 3.31 | | | | 4/10/49 | | | | 26 | |
| | | | |
| | 25 | | | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class – A4 | | | 3.62 | | | | 7/10/47 | | | | 26 | |
| | | | |
| | 25 | | | Commercial Mortgage Trust, Series 2015-LC19, Class – A4 | | | 3.18 | | | | 2/10/48 | | | | 26 | |
| | | | |
| | 20 | | | Commercial Mortgage Trust, Series2015-DC1, Class – A5 | | | 3.35 | | | | 2/10/48 | | | | 21 | |
| | | | |
| | 25 | | | Commercial Mortgage Trust, Series2013-CR8, Class – A5 | | | 3.61 | (a) | | | 6/10/46 | | | | 26 | |
| | | | |
| | 25 | | | Commercial Mortgage Trust, Series 2014-UBS3, Class – A4 | | | 3.82 | | | | 6/10/47 | | | | 27 | |
| | | | |
| | 25 | | | Commercial Mortgage Trust, Series 2013-CR11, Class – B | | | 5.28 | (a) | | | 8/10/50 | | | | 27 | |
| | | | |
| | 10 | | | FannieMae-ACES, Series2015-M8, Class – A2 | | | 2.90 | (a) | | | 1/25/25 | | | | 10 | |
| | | | |
| | 25 | | | FannieMae-ACES, Series2016-M1, Class – A2 | | | 2.94 | (a) | | | 1/25/26 | | | | 26 | |
| | | | |
| | 38 | | | FannieMae-ACES, Series2017-M7, Class – A2 | | | 2.96 | | | | 2/25/27 | | | | 39 | |
| | | | |
| | 25 | | | FannieMae-ACES, Series2018-M1, Class – A2 | | | 3.09 | (a) | | | 12/25/27 | | | | 26 | |
| | | | |
| | 30 | | | FannieMae-ACES, Series2014-M9, Class – A2 | | | 3.10 | (a) | | | 7/25/24 | | | | 31 | |
| | | | |
| | 25 | | | FannieMae-ACES, Series2017-M12, Class – A2 | | | 3.18 | (a) | | | 6/25/27 | | | | 26 | |
| | | | |
| | 25 | | | FannieMae-ACES, Series2018-M10, Class – A2 | | | 3.50 | (a) | | | 7/25/28 | | | | 27 | |
| | | | |
| | 16 | | | Freddie Mac, Series K726, Class – A1 | | | 2.60 | | | | 8/25/23 | | | | 16 | |
| | | | |
| | 25 | | | Freddie Mac Multifamily Structured Pass Through Certificates, Series K082, Class – A2 | | | 3.92 | (a) | | | 9/25/28 | | | | 28 | |
| | | | |
| | 25 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class – A2 | | | 2.31 | | | | 8/25/22 | | | | 25 | |
| | | | |
| | 24 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class – A2 | | | 2.87 | | | | 12/25/21 | | | | 25 | |
| | | | |
| | 10 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class – A1 | | | 3.02 | | | | 2/25/23 | | | | 10 | |
| | | | |
| | 30 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class – A2 | | | 3.06 | (a) | | | 7/25/23 | | | | 31 | |
| | | | |
| | 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 | |
| | | | |
| | 25 | | | GS Mortgage Securities Trust, Series2017-GS5, Class – A2 | | | 3.22 | | | | 3/10/50 | | | | 25 | |
| | | | |
| | 50 | | | GS Mortgage Securities Trust, Series2018-GS9, Class – A4 | | | 3.99 | (a) | | | 3/10/51 | | | | 55 | |
| | | | |
| | 25 | | | JPMBB Commercial Mortgage Securities Trust, Series2014-C24, Class – A5 | | | 3.64 | | | | 11/15/47 | | | | 26 | |
| | | | |
| | 50 | | | JPMDB Commercial Mortgage Securities Trust, Series2016-C4, Class – A3 | | | 3.14 | | | | 12/15/49 | | | | 52 | |
| | | | |
| | 20 | | | JPMorgan Chase Commercial Mortgage Securities Corp., Series2012-C8, Class – A3 | | | 2.83 | | | | 10/15/45 | | | | 20 | |
| | | | |
| | 25 | | | Morgan Stanley BAML Trust, Series2013-C9, Class – AS | | | 3.46 | | | | 5/15/46 | | | | 26 | |
| | | | |
| | 25 | | | Morgan Stanley BAML Trust, Series2014-C19, Class – A4 | | | 3.53 | | | | 12/15/47 | | | | 26 | |
| | | | |
| | 25 | | | Morgan Stanley BAML Trust, Series2017-C33, Class – A5 | | | 3.60 | | | | 5/15/50 | | | | 27 | |
| | | | |
| | 25 | | | SG Commercial Mortgage Securities Trust, Series2016-C5, Class – A4 | | | 3.06 | | | | 10/10/48 | | | | 26 | |
| | | | |
| | 25 | | | UBS Commercial Mortgage Trust, Series2018-C12, Class – A5 | | | 4.30 | | | | 8/15/51 | | | | 28 | |
| | | | |
| | 4 | | | WF-RBS Commercial Mortgage Trust, Series2012-C7, Class – A1 | | | 2.30 | | | | 6/15/45 | | | | 4 | |
| | | | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | | | | 984 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
196
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages — 21.27% | | | | | | | | | | | | |
| | | | |
| $ | 30 | | | Fannie Mae, Pool #AS2673 | | | 2.00 | | | | 5/1/29 | | | $ | 30 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #AS4946 | | | 2.50 | | | | 5/1/30 | | | | 21 | |
| | | | |
| | 31 | | | Fannie Mae, Pool #MA1277 | | | 2.50 | | | | 12/1/27 | | | | 31 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #AU1660 | | | 2.50 | | | | 7/1/28 | | | | 42 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #MA2789 | | | 2.50 | | | | 10/1/36 | | | | 19 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #AU6677 | | | 2.50 | | | | 9/1/28 | | | | 41 | |
| | | | |
| | 31 | | | Fannie Mae, Pool #AB7391 | | | 2.50 | | | | 12/1/42 | | | | 31 | |
| | | | |
| | 61 | | | Fannie Mae, Pool #AP4742 | | | 2.50 | | | | 8/1/27 | | | | 62 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #MA3154 | | | 2.50 | | | | 10/1/32 | | | | 20 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA3246 | | | 2.50 | | | | 1/1/33 | | | | 21 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BD8046 | | | 2.50 | | | | 9/1/31 | | | | 23 | |
| | | | |
| | 37 | | | Fannie Mae, Pool #BC9041 | | | 2.50 | | | | 11/1/31 | | | | 37 | |
| | | | |
| | 26 | | | Fannie Mae, Series2015-M1, Class A2 | | | 2.53 | | | | 9/25/24 | | | | 26 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA3127 | | | 3.00 | | | | 9/1/37 | | | | 22 | |
| | | | |
| | 50 | | | Fannie Mae, Pool #MA2246 | | | 3.00 | | | | 4/1/30 | | | | 51 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3377 | | | 3.00 | | | | 5/1/48 | | | | 24 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #BH8817 | | | 3.00 | | | | 10/1/47 | | | | 21 | |
| | | | |
| | 48 | | | Fannie Mae, Pool #AQ7920 | | | 3.00 | | | | 12/1/42 | | | | 49 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #AL9865 | | | 3.00 | | | | 2/1/47 | | | | 43 | |
| | | | |
| | 29 | | | Fannie Mae, Pool #AS5977 | | | 3.00 | | | | 10/1/30 | | | | 29 | |
| | | | |
| | 27 | | | Fannie Mae, Pool #AU3353 | | | 3.00 | | | | 8/1/43 | | | | 28 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #AS7908 | | | 3.00 | | | | 9/1/46 | | | | 40 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #AS8414 | | | 3.00 | | | | 11/1/46 | | | | 25 | |
| | | | |
| | 85 | | | Fannie Mae, Pool #AS8483 | | | 3.00 | | | | 12/1/46 | | | | 85 | |
| | | | |
| | 11 | | | Fannie Mae, Pool #AO7628 | | | 3.00 | | | | 6/1/27 | | | | 12 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #AS8739 | | | 3.00 | | | | 2/1/37 | | | | 21 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3631 | | | 3.00 | | | | 4/1/34 | | | | 25 | |
| | | | |
| | 55 | | | Fannie Mae, Pool #AT0682 | | | 3.00 | | | | 4/1/43 | | | | 56 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #AS8276 | | | 3.00 | | | | 11/1/46 | | | | 41 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #MA2416 | | | 3.00 | | | | 10/1/35 | | | | 15 | |
| | | | |
| | 89 | | | Fannie Mae, Pool #AO0752 | | | 3.00 | | | | 4/1/42 | | | | 89 | |
| | | | |
| | 60 | | | Fannie Mae, Pool #AS0302 | | | 3.00 | | | | 8/1/43 | | | | 61 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #AL9263 | | | 3.00 | | | | 10/1/46 | | | | 24 | |
| | | | |
| | 33 | | | Fannie Mae, Pool #AB2047 | | | 3.00 | | | | 1/1/26 | | | | 34 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #BC4764 | | | 3.00 | | | | 10/1/46 | | | | 42 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA3339 | | | 3.00 | | | | 4/1/33 | | | | 22 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #890566 | | | 3.00 | | | | 12/1/43 | | | | 17 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #MA2523 | | | 3.00 | | | | 2/1/36 | | | | 16 | |
| | | | |
| | 51 | | | Fannie Mae, Pool #AY2961 | | | 3.00 | | | | 5/1/45 | | | | 52 | |
| | | | |
| | 76 | | | Fannie Mae, Pool #AB7099 | | | 3.00 | | | | 11/1/42 | | | | 76 | |
| | | | |
| | 56 | | | Fannie Mae, Pool #AB8897 | | | 3.00 | | | | 4/1/43 | | | | 57 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA2863 | | | 3.00 | | | | 1/1/47 | | | | 21 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #MA2897 | | | 3.00 | | | | 2/1/37 | | | | 20 | |
| | | | |
| | 56 | | | Fannie Mae, Pool #AK0006 | | | 3.00 | | | | 1/1/27 | | | | 58 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA3237 | | | 3.00 | | | | 1/1/48 | | | | 23 | |
| | | | |
| | 30 | | | Fannie Mae, Pool #AU8932 | | | 3.00 | | | | 11/1/28 | | | | 30 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #AL9996 | | | 3.00 | | | | 4/1/32 | | | | 22 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #MA1307 | | | 3.00 | | | | 1/1/33 | | | | 22 | |
| | | | |
| | 43 | | | Fannie Mae, Pool #BD5797 | | | 3.00 | | | | 9/1/46 | | | | 44 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #BD5545 | | | 3.00 | | | | 10/1/46 | | | | 21 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #BC9003 | | | 3.00 | | | | 11/1/46 | | | | 42 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #BD2446 | | | 3.00 | | | | 1/1/47 | | | | 43 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #BC9681 | | | 3.00 | | | | 6/1/46 | | | | 41 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #AZ2936 | | | 3.00 | | | | 9/1/45 | | | | 25 | |
See accompanying notes to financial statements.
197
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 44 | | | Fannie Mae, Pool #MA3243 | | | 3.50 | | | | 1/1/38 | | | $ | 45 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #BM5485 | | | 3.50 | | | | 2/1/49 | | | | 25 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #MA3059 | | | 3.50 | | | | 7/1/37 | | | | 21 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #MA2522 | | | 3.50 | | | | 2/1/46 | | | | 17 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA3305 | | | 3.50 | | | | 3/1/48 | | | | 24 | |
| | | | |
| | 179 | | | Fannie Mae, Pool #AO2548 | | | 3.50 | | | | 4/1/42 | | | | 185 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #MA2706 | | | 3.50 | | | | 8/1/46 | | | | 35 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3597 | | | 3.50 | | | | 2/1/49 | | | | 25 | |
| | | | |
| | 44 | | | Fannie Mae, Pool #MA3182 | | | 3.50 | | | | 11/1/47 | | | | 46 | |
| | | | |
| | 56 | | | Fannie Mae, Pool #AS3133 | | | 3.50 | | | | 8/1/44 | | | | 58 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA3026 | | | 3.50 | | | | 6/1/47 | | | | 43 | |
| | | | |
| | 80 | | | Fannie Mae, Pool #AQ0546 | | | 3.50 | | | | 11/1/42 | | | | 81 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #AS0024 | | | 3.50 | | | | 7/1/43 | | | | 22 | |
| | | | |
| | 37 | | | Fannie Mae, Pool #MA1980 | | | 3.50 | | | | 8/1/44 | | | | 39 | |
| | | | |
| | 52 | | | Fannie Mae, Pool #AS4771 | | | 3.50 | | | | 4/1/45 | | | | 54 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #AS7491 | | | 3.50 | | | | 7/1/46 | | | | 37 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #AS4772 | | | 3.50 | | | | 4/1/45 | | | | 43 | |
| | | | |
| | 32 | | | Fannie Mae, Pool #AZ0862 | | | 3.50 | | | | 7/1/45 | | | | 32 | |
| | | | |
| | 26 | | | Fannie Mae, Pool #AY3377 | | | 3.50 | | | | 4/1/45 | | | | 27 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #AX9530 | | | 3.50 | | | | 2/1/45 | | | | 37 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AB2052 | | | 3.50 | | | | 1/1/26 | | | | 35 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #AB5511 | | | 3.50 | | | | 7/1/42 | | | | 47 | |
| | | | |
| | 91 | | | Fannie Mae, Pool #AB6017 | | | 3.50 | | | | 8/1/42 | | | | 93 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3614 | | | 3.50 | | | | 3/1/49 | | | | 25 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #AJ1886 | | | 3.50 | | | | 3/1/42 | | | | 16 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #AL1717 | | | 3.50 | | | | 5/1/27 | | | | 25 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #BD5046 | | | 3.50 | | | | 2/1/47 | | | | 21 | |
| | | | |
| | 50 | | | Fannie Mae, Pool #MA2125 | | | 3.50 | | | | 12/1/44 | | | | 51 | |
| | | | |
| | 29 | | | Fannie Mae, Pool #BC1158 | | | 3.50 | | | | 2/1/46 | | | | 30 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #BC0443 | | | 3.50 | | | | 12/1/45 | | | | 21 | |
| | | | |
| | 14 | | | Fannie Mae, Pool #AS4236 | | | 3.50 | | | | 1/1/45 | | | | 14 | |
| | | | |
| | 35 | | | Fannie Mae, Pool #BA3123 | | | 3.50 | | | | 2/1/46 | | | | 36 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #BK7428 | | | 3.50 | | | | 8/1/48 | | | | 25 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #BM1568 | | | 3.50 | | | | 7/1/47 | | | | 21 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA3148 | | | 3.50 | | | | 10/1/47 | | | | 24 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #MA3637 | | | 3.50 | | | | 4/1/49 | | | | 25 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BK9038 | | | 3.50 | | | | 10/1/33 | | | | 23 | |
| | | | |
| | 48 | | | Fannie Mae, Pool #MA3520 | | | 3.50 | | | | 10/1/48 | | | | 49 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AS7388 | | | 3.50 | | | | 6/1/46 | | | | 35 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #BA1893 | | | 3.50 | | | | 8/1/45 | | | | 15 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3494 | | | 3.50 | | | | 10/1/48 | | | | 24 | |
| | | | |
| | 33 | | | Fannie Mae, Pool #AS6102 | | | 3.50 | | | | 11/1/45 | | | | 34 | |
| | | | |
| | 13 | | | Fannie Mae, Pool #AS5596 | | | 3.50 | | | | 8/1/45 | | | | 14 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #MA2389 | | | 3.50 | | | | 9/1/35 | | | | 17 | |
| | | | |
| | 35 | | | Fannie Mae, Pool #BC2926 | | | 3.50 | | | | 3/1/46 | | | | 36 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #BJ4916 | | | 3.50 | | | | 3/1/48 | | | | 47 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BJ3716 | | | 3.50 | | | | 12/1/47 | | | | 24 | |
| | | | |
| | 17 | | | Fannie Mae, Pool #AS6394 | | | 3.50 | | | | 12/1/45 | | | | 17 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3615 | | | 4.00 | | | | 3/1/49 | | | | 25 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #CA0183 | | | 4.00 | | | | 8/1/47 | | | | 20 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA3183 | | | 4.00 | | | | 11/1/47 | | | | 22 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BM4991 | | | 4.00 | | | | 9/1/48 | | | | 24 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #BM2002 | | | 4.00 | | | | 10/1/47 | | | | 41 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #BM1066 | | | 4.00 | | | | 2/1/47 | | | | 41 | |
See accompanying notes to financial statements.
198
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 23 | | | Fannie Mae, Pool #BK0920 | | | 4.00 | | | | 7/1/48 | | | $ | 24 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BK0909 | | | 4.00 | | | | 7/1/48 | | | | 24 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #CA2316 | | | 4.00 | | | | 7/1/48 | | | | 24 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #MA0534 | | | 4.00 | | | | 10/1/30 | | | | 26 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #AC7328 | | | 4.00 | | | | 12/1/39 | | | | 42 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #MA3277 | | | 4.00 | | | | 2/1/48 | | | | 22 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3638 | | | 4.00 | | | | 4/1/49 | | | | 25 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #BD7165 | | | 4.00 | | | | 4/1/47 | | | | 25 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AS6213 | | | 4.00 | | | | 11/1/45 | | | | 36 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #BD7060 | | | 4.00 | | | | 3/1/47 | | | | 24 | |
| | | | |
| | 60 | | | Fannie Mae, Pool #AJ5303 | | | 4.00 | | | | 11/1/41 | | | | 63 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AH6242 | | | 4.00 | | | | 4/1/26 | | | | 35 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #AS7600 | | | 4.00 | | | | 7/1/46 | | | | 20 | |
| | | | |
| | 18 | | | Fannie Mae, Pool #AS8532 | | | 4.00 | | | | 12/1/46 | | | | 19 | |
| | | | |
| | 44 | | | Fannie Mae, Pool #AS8823 | | | 4.00 | | | | 2/1/47 | | | | 46 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #AS9831 | | | 4.00 | | | | 6/1/47 | | | | 43 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #AS9314 | | | 4.00 | | | | 3/1/47 | | | | 40 | |
| | | | |
| | 105 | | | Fannie Mae, Pool #190405 | | | 4.00 | | | | 10/1/40 | | | | 109 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #AU8849 | | | 4.00 | | | | 11/1/43 | | | | 26 | |
| | | | |
| | 7 | | | Fannie Mae, Pool #AZ1210 | | | 4.00 | | | | 5/1/45 | | | | 8 | |
| | | | |
| | 32 | | | Fannie Mae, Pool #AL8139 | | | 4.00 | | | | 2/1/32 | | | | 34 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #AZ7362 | | | 4.00 | | | | 11/1/45 | | | | 17 | |
| | | | |
| | 44 | | | Fannie Mae, Pool #AS3468 | | | 4.00 | | | | 10/1/44 | | | | 46 | |
| | | | |
| | 43 | | | Fannie Mae, Pool #AO2959 | | | 4.00 | | | | 5/1/42 | | | | 45 | |
| | | | |
| | 12 | | | Fannie Mae, Pool #AV0606 | | | 4.00 | | | | 11/1/43 | | | | 12 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #AS3467 | | | 4.00 | | | | 10/1/44 | | | | 44 | |
| | | | |
| | 26 | | | Fannie Mae, Pool #AS3452 | | | 4.00 | | | | 9/1/44 | | | | 27 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #BE8373 | | | 4.00 | | | | 2/1/47 | | | | 22 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA2995 | | | 4.00 | | | | 5/1/47 | | | | 43 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA3121 | | | 4.00 | | | | 9/1/47 | | | | 43 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AX0841 | | | 4.00 | | | | 9/1/44 | | | | 35 | |
| | | | |
| | 11 | | | Fannie Mae, Pool #AY9901 | | | 4.00 | | | | 7/1/45 | | | | 12 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA3521 | | | 4.00 | | | | 11/1/48 | | | | 24 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #MA2415 | | | 4.00 | | | | 10/1/45 | | | | 16 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #MA3592 | | | 4.00 | | | | 2/1/49 | | | | 25 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #CA0623 | | | 4.50 | | | | 10/1/47 | | | | 21 | |
| | | | |
| | 9 | | | Fannie Mae, Pool #930998 | | | 4.50 | | | | 4/1/29 | | | | 9 | |
| | | | |
| | — | | | Fannie Mae, Pool #AB0339 | | | 4.50 | | | | 1/1/20 | | | | — | |
| | | | |
| | 22 | | | Fannie Mae, Pool #CA1711 | | | 4.50 | | | | 5/1/48 | | | | 23 | |
| | | | |
| | 13 | | | Fannie Mae, Pool #AU9017 | | | 4.50 | | | | 9/1/43 | | | | 14 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #254954 | | | 4.50 | | | | 10/1/23 | | | | 25 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #BH3310 | | | 4.50 | | | | 5/1/47 | | | | 15 | |
| | | | |
| | 67 | | | Fannie Mae, Pool #AE0217 | | | 4.50 | | | | 8/1/40 | | | | 71 | |
| | | | |
| | 1 | | | Fannie Mae, Pool #735646 | | | 4.50 | | | | 7/1/20 | | | | 1 | |
| | | | |
| | 50 | | | Fannie Mae, Pool #AE0954 | | | 4.50 | | | | 2/1/41 | | | | 53 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #MA3537 | | | 4.50 | | | | 12/1/48 | | | | 23 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA3593 | | | 4.50 | | | | 2/1/49 | | | | 24 | |
| | | | |
| | 17 | | | Fannie Mae, Pool #AS2751 | | | 4.50 | | | | 6/1/44 | | | | 19 | |
| | | | |
| | 14 | | | Fannie Mae, Pool #BE6489 | | | 4.50 | | | | 1/1/47 | | | | 15 | |
| | | | |
| | 4 | | | Fannie Mae, Pool #829106 | | | 4.50 | | | | 10/1/20 | | | | 4 | |
| | | | |
| | 18 | | | Fannie Mae, Pool #AL6567 | | | 4.50 | | | | 10/1/44 | | | | 19 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #BN4309 | | | 4.50 | | | | 1/1/49 | | | | 26 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #BK6328 | | | 4.50 | | | | 6/1/48 | | | | 22 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #BK4850 | | | 4.50 | | | | 5/1/48 | | | | 23 | |
See accompanying notes to financial statements.
199
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 24 | | | Fannie Mae, Pool #MA3639 | | | 4.50 | | | | 4/1/49 | | | $ | 25 | |
| | | | |
| | 53 | | | Fannie Mae, Pool #AL1107 | | | 4.50 | | | | 11/1/41 | | | | 57 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #BM3286 | | | 4.50 | | | | 11/1/47 | | | | 24 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #BM3904 | | | 5.00 | | | | 5/1/48 | | | | 23 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #725238 | | | 5.00 | | | | 3/1/34 | | | | 25 | |
| | | | |
| | 10 | | | Fannie Mae, Pool #725027 | | | 5.00 | | | | 11/1/33 | | | | 11 | |
| | | | |
| | 7 | | | Fannie Mae, Pool #890603 | | | 5.00 | | | | 8/1/41 | | | | 8 | |
| | | | |
| | 51 | | | Fannie Mae, Pool #889117 | | | 5.00 | | | | 10/1/35 | | | | 55 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #BE3782 | | | 5.00 | | | | 7/1/47 | | | | 24 | |
| | | | |
| | 9 | | | Fannie Mae, Pool #890221 | | | 5.50 | | | | 12/1/33 | | | | 10 | |
| | | | |
| | 55 | | | Fannie Mae, Pool #725228 | | | 6.00 | | | | 3/1/34 | | | | 61 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #959451 | | | 6.00 | | | | 12/1/37 | | | | 21 | |
| | | | |
| | 28 | | | Fannie Mae, Pool #AE0442 | | | 6.50 | | | | 1/1/39 | | | | 32 | |
| | | | |
| | 25 | | | Fannie Mae, 15 YR TBA | | | 3.00 | | | | 7/25/34 | | | | 25 | |
| | | | |
| | 75 | | | Fannie Mae, 15 YR TBA | | | 3.50 | | | | 7/25/34 | | | | 76 | |
| | | | |
| | 25 | | | Fannie Mae, 15 YR TBA | | | 4.00 | | | | 7/25/33 | | | | 26 | |
| | | | |
| | 75 | | | Fannie Mae, 30 YR TBA | | | 3.50 | | | | 7/25/48 | | | | 77 | |
| | | | |
| | 75 | | | Fannie Mae, 30 YR TBA | | | 3.50 | | | | 8/25/49 | | | | 77 | |
| | | | |
| | 25 | | | Fannie Mae, 30 YR TBA | | | 4.00 | | | | 8/25/49 | | | | 26 | |
| | | | |
| | 525 | | | Fannie Mae, 30 YR TBA | | | 4.00 | | | | 7/25/49 | | | | 541 | |
| | | | |
| | 250 | | | Fannie Mae, 30 YR TBA | | | 4.50 | | | | 7/25/49 | | | | 260 | |
| | | | |
| | 50 | | | Fannie Mae, 30 YR TBA | | | 5.00 | | | | 7/25/48 | | | | 53 | |
| | | | |
| | 27 | | | Freddie Mac, Pool #J25686 | | | 2.00 | | | | 9/1/28 | | | | 27 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G18687 | | | 2.50 | | | | 5/1/33 | | | | 23 | |
| | | | |
| | 55 | | | Freddie Mac, Pool #G18459 | | | 2.50 | | | | 3/1/28 | | | | 56 | |
| | | | |
| | 41 | | | Freddie Mac, Pool #G18470 | | | 2.50 | | | | 6/1/28 | | | | 42 | |
| | | | |
| | 37 | | | Freddie Mac, Pool #J35896 | | | 2.50 | | | | 12/1/31 | | | | 37 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #G18635 | | | 2.50 | | | | 3/1/32 | | | | 19 | |
| | | | |
| | 41 | | | Freddie Mac, Pool #G18485 | | | 2.50 | | | | 10/1/28 | | | | 41 | |
| | | | |
| | 17 | | | Freddie Mac, Pool #G07445 | | | 2.50 | | | | 7/1/43 | | | | 17 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G18683 | | | 2.50 | | | | 4/1/33 | | | | 23 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #G60989 | | | 3.00 | | | | 12/1/46 | | | | 43 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G61680 | | | 3.00 | | | | 4/1/47 | | | | 23 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #Q46441 | | | 3.00 | | | | 2/1/47 | | | | 22 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #Q44665 | | | 3.00 | | | | 11/1/46 | | | | 21 | |
| | | | |
| | 92 | | | Freddie Mac, Pool #G08537 | | | 3.00 | | | | 7/1/43 | | | | 95 | |
| | | | |
| | 90 | | | Freddie Mac, Pool #C09035 | | | 3.00 | | | | 4/1/43 | | | | 93 | |
| | | | |
| | 24 | | | Freddie Mac, Pool #G08783 | | | 3.00 | | | | 10/1/47 | | | | 24 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #J38057 | | | 3.00 | | | | 12/1/32 | | | | 23 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #J36428 | | | 3.00 | | | | 2/1/32 | | | | 23 | |
| | | | |
| | 24 | | | Freddie Mac, Pool #G08803 | | | 3.00 | | | | 3/1/48 | | | | 24 | |
| | | | |
| | 29 | | | Freddie Mac, Pool #G15145 | | | 3.00 | | | | 7/1/29 | | | | 30 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #G08732 | | | 3.00 | | | | 11/1/46 | | | | 20 | |
| | | | |
| | 41 | | | Freddie Mac, Pool #G08737 | | | 3.00 | | | | 12/1/46 | | | | 41 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #Q44452 | | | 3.00 | | | | 11/1/46 | | | | 21 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #J25193 | | | 3.00 | | | | 8/1/23 | | | | 21 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #C91927 | | | 3.00 | | | | 5/1/37 | | | | 21 | |
| | | | |
| | 43 | | | Freddie Mac, Pool #G08701 | | | 3.00 | | | | 4/1/46 | | | | 44 | |
| | | | |
| | 11 | | | Freddie Mac, Pool #J15438 | | | 3.00 | | | | 5/1/21 | | | | 11 | |
| | | | |
| | 84 | | | Freddie Mac, Pool #G08741 | | | 3.00 | | | | 1/1/47 | | | | 84 | |
| | | | |
| | 63 | | | Freddie Mac, Pool #G08631 | | | 3.00 | | | | 3/1/45 | | | | 63 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #G18663 | | | 3.00 | | | | 10/1/32 | | | | 41 | |
| | | | |
| | 16 | | | Freddie Mac, Pool #G18601 | | | 3.00 | | | | 5/1/31 | | | | 16 | |
| | | | |
| | 35 | | | Freddie Mac, Pool #C91709 | | | 3.00 | | | | 6/1/33 | | | | 36 | |
See accompanying notes to financial statements.
200
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 16 | | | Freddie Mac, Pool #G08635 | | | 3.00 | | | | 4/1/45 | | | $ | 17 | |
| | | | |
| | 10 | | | Freddie Mac, Pool #G18518 | | | 3.00 | | | | 7/1/29 | | | | 10 | |
| | | | |
| | 62 | | | Freddie Mac, Pool #G08524 | | | 3.00 | | | | 3/1/43 | | | | 64 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #C91809 | | | 3.00 | | | | 2/1/35 | | | | 13 | |
| | | | |
| | 24 | | | Freddie Mac, Pool #G08855 | | | 3.00 | | | | 10/1/48 | | | | 25 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #G08750 | | | 3.00 | | | | 3/1/47 | | | | 43 | |
| | | | |
| | 8 | | | Freddie Mac, Pool #J13919 | | | 3.50 | | | | 12/1/20 | | | | 8 | |
| | | | |
| | 11 | | | Freddie Mac, Pool #J30284 | | | 3.50 | | | | 11/1/29 | | | | 11 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #G18707 | | | 3.50 | | | | 9/1/33 | | | | 23 | |
| | | | |
| | 16 | | | Freddie Mac, Pool #J14069 | | | 3.50 | | | | 1/1/26 | | | | 16 | |
| | | | |
| | 49 | | | Freddie Mac, Pool #C03759 | | | 3.50 | | | | 2/1/42 | | | | 51 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #V83655 | | | 3.50 | | | | 12/1/47 | | | | 23 | |
| | | | |
| | 45 | | | Freddie Mac, Pool #Q09896 | | | 3.50 | | | | 8/1/42 | | | | 47 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #V83453 | | | 3.50 | | | | 10/1/47 | | | | 23 | |
| | | | |
| | 30 | | | Freddie Mac, Pool #Q43933 | | | 3.50 | | | | 10/1/46 | | | | 31 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #Q52319 | | | 3.50 | | | | 11/1/47 | | | | 23 | |
| | | | |
| | 25 | | | Freddie Mac, Pool #Q53176 | | | 3.50 | | | | 12/1/47 | | | | 26 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #G08757 | | | 3.50 | | | | 4/1/47 | | | | 21 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #G08761 | | | 3.50 | | | | 5/1/47 | | | | 42 | |
| | | | |
| | 37 | | | Freddie Mac, Pool #C91456 | | | 3.50 | | | | 6/1/32 | | | | 38 | |
| | | | |
| | 25 | | | Freddie Mac, Pool #Q57871 | | | 3.50 | | | | 8/1/48 | | | | 25 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #C92003 | | | 3.50 | | | | 7/1/38 | | | | 23 | |
| | | | |
| | 43 | | | Freddie Mac, Pool #G61148 | | | 3.50 | | | | 9/1/47 | | | | 45 | |
| | | | |
| | 61 | | | Freddie Mac, Pool #G08681 | | | 3.50 | | | | 12/1/45 | | | | 63 | |
| | | | |
| | 33 | | | Freddie Mac, Pool #G08687 | | | 3.50 | | | | 1/1/46 | | | | 34 | |
| | | | |
| | 17 | | | Freddie Mac, Pool #G08623 | | | 3.50 | | | | 1/1/45 | | | | 17 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G08816 | | | 3.50 | | | | 6/1/48 | | | | 24 | |
| | | | |
| | 46 | | | Freddie Mac, Pool #G08650 | | | 3.50 | | | | 6/1/45 | | | | 48 | |
| | | | |
| | 98 | | | Freddie Mac, Pool #G08495 | | | 3.50 | | | | 6/1/42 | | | | 102 | |
| | | | |
| | 15 | | | Freddie Mac, Pool #G08627 | | | 3.50 | | | | 2/1/45 | | | | 15 | |
| | | | |
| | 57 | | | Freddie Mac, Pool #G08667 | | | 3.50 | | | | 9/1/45 | | | | 58 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G08620 | | | 3.50 | | | | 12/1/44 | | | | 22 | |
| | | | |
| | 18 | | | Freddie Mac, Pool #G08702 | | | 3.50 | | | | 4/1/46 | | | | 18 | |
| | | | |
| | 54 | | | Freddie Mac, Pool #G08554 | | | 3.50 | | | | 10/1/43 | | | | 56 | |
| | | | |
| | 66 | | | Freddie Mac, Pool #G08636 | | | 3.50 | | | | 4/1/45 | | | | 68 | |
| | | | |
| | 35 | | | Freddie Mac, Pool #G08698 | | | 3.50 | | | | 3/1/46 | | | | 36 | |
| | | | |
| | 32 | | | Freddie Mac, Pool #G08693 | | | 3.50 | | | | 3/1/46 | | | | 32 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G08770 | | | 3.50 | | | | 7/1/47 | | | | 22 | |
| | | | |
| | 36 | | | Freddie Mac, Pool #G08784 | | | 3.50 | | | | 10/1/47 | | | | 37 | |
| | | | |
| | — | | | Freddie Mac, Pool #J06163 | | | 4.00 | | | | 1/1/20 | | | | — | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G08801 | | | 4.00 | | | | 2/1/48 | | | | 24 | |
| | | | |
| | 35 | | | Freddie Mac, Pool #G08752 | | | 4.00 | | | | 3/1/47 | | | | 37 | |
| | | | |
| | 55 | | | Freddie Mac, Pool #G08637 | | | 4.00 | | | | 4/1/45 | | | | 57 | |
| | | | |
| | 34 | | | Freddie Mac, Pool #G08669 | | | 4.00 | | | | 9/1/45 | | | | 35 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #V83344 | | | 4.00 | | | | 8/1/47 | | | | 41 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #G08775 | | | 4.00 | | | | 8/1/47 | | | | 42 | |
| | | | |
| | 2 | | | Freddie Mac, Pool #G11690 | | | 4.00 | | | | 2/1/20 | | | | 2 | |
| | | | |
| | 34 | | | Freddie Mac, Pool #A96286 | | | 4.00 | | | | 1/1/41 | | | | 35 | |
| | | | |
| | 25 | | | Freddie Mac, Pool #G08771 | | | 4.00 | | | | 7/1/47 | | | | 26 | |
| | | | |
| | 45 | | | Freddie Mac, Pool #Q24955 | | | 4.00 | | | | 2/1/44 | | | | 47 | |
| | | | |
| | 16 | | | Freddie Mac, Pool #C91395 | | | 4.00 | | | | 9/1/31 | | | | 17 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #Q58680 | | | 4.00 | | | | 9/1/48 | | | | 24 | |
| | | | |
| | 41 | | | Freddie Mac, Pool #G08606 | | | 4.00 | | | | 9/1/44 | | | | 43 | |
| | | | |
| | 34 | | | Freddie Mac, Pool #G08567 | | | 4.00 | | | | 1/1/44 | | | | 35 | |
See accompanying notes to financial statements.
201
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 24 | | | Freddie Mac, Pool #G08563 | | | 4.00 | | | | 1/1/44 | | | $ | 25 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #G06506 | | | 4.00 | | | | 12/1/40 | | | | 44 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G08847 | | | 4.00 | | | | 11/1/48 | | | | 24 | |
| | | | |
| | 6 | | | Freddie Mac, Pool #C90686 | | | 4.50 | | | | 6/1/23 | | | | 6 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #A97186 | | | 4.50 | | | | 3/1/41 | | | | 20 | |
| | | | |
| | 35 | | | Freddie Mac, Pool #G01890 | | | 4.50 | | | | 10/1/35 | | | | 37 | |
| | | | |
| | 24 | | | Freddie Mac, Pool #Q58217 | | | 4.50 | | | | 9/1/48 | | | | 25 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #Q52321 | | | 4.50 | | | | 11/1/47 | | | | 23 | |
| | | | |
| | 18 | | | Freddie Mac, Pool #G08781 | | | 4.50 | | | | 9/1/47 | | | | 19 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G08820 | | | 4.50 | | | | 5/1/48 | | | | 22 | |
| | | | |
| | 14 | | | Freddie Mac, Pool #C09059 | | | 4.50 | | | | 3/1/44 | | | | 14 | |
| | | | |
| | 54 | | | Freddie Mac, Pool #A97692 | | | 4.50 | | | | 3/1/41 | | | | 58 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #G08838 | | | 5.00 | | | | 9/1/48 | | | | 23 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #G01962 | | | 5.00 | | | | 12/1/35 | | | | 24 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G04817 | | | 5.00 | | | | 9/1/38 | | | | 23 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G05904 | | | 5.00 | | | | 9/1/39 | | | | 25 | |
| | | | |
| | 33 | | | Freddie Mac, Pool #G01665 | | | 5.50 | | | | 3/1/34 | | | | 37 | |
| | | | |
| | 4 | | | Freddie Mac, Pool #C90989 | | | 6.00 | | | | 9/1/26 | | | | 4 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G02794 | | | 6.00 | | | | 5/1/37 | | | | 24 | |
| | | | |
| | 11 | | | Freddie Mac, Pool #G03616 | | | 6.00 | | | | 12/1/37 | | | | 12 | |
| | | | |
| | 8 | | | Government National Mortgage Association, Pool #AA8341 | | | 2.50 | | | | 2/15/28 | | | | 8 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA4194 | | | 2.50 | | | | 1/20/47 | | | | 20 | |
| | | | |
| | 10 | | | Government National Mortgage Association, Pool #MA1155 | | | 2.50 | | | | 7/20/43 | | | | 10 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #MA4355 | | | 2.50 | | | | 4/20/32 | | | | 19 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #MA3735 | | | 3.00 | | | | 6/20/46 | | | | 17 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA3375 | | | 3.00 | | | | 1/20/46 | | | | 44 | |
| | | | |
| | 67 | | | Government National Mortgage Association, Pool #MA4899 | | | 3.00 | | | | 12/20/47 | | | | 68 | |
| | | | |
| | 48 | | | Government National Mortgage Association, Pool #MA1447 | | | 3.00 | | | | 11/20/43 | | | | 50 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #AA2654 | | | 3.00 | | | | 6/15/43 | | | | 30 | |
| | | | |
| | 21 | | | Government National Mortgage Association, Pool #AA5897 | | | 3.00 | | | | 12/15/42 | | | | 21 | |
| | | | |
| | 48 | | | Government National Mortgage Association, Pool #AA6149 | | | 3.00 | | | | 3/20/43 | | | | 49 | |
| | | | |
| | 19 | | | Government National Mortgage Association, Pool #MA4261 | | | 3.00 | | | | 2/20/47 | | | | 20 | |
| | | | |
| | 41 | | | Government National Mortgage Association, Pool #MA0851 | | | 3.00 | | | | 3/20/43 | | | | 43 | |
| | | | |
| | 25 | | | Government National Mortgage Association, Pool #MA0205 | | | 3.00 | | | | 7/20/27 | | | | 25 | |
| | | | |
| | 43 | �� | | Government National Mortgage Association, Pool #MA0461 | | | 3.00 | | | | 10/20/42 | | | | 44 | |
| | | | |
| | 41 | | | Government National Mortgage Association, Pool #MA1011 | | | 3.00 | | | | 5/20/43 | | | | 42 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA2444 | | | 3.00 | | | | 12/20/44 | | | | 20 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA4777 | | | 3.00 | | | | 10/20/47 | | | | 44 | |
| | | | |
| | 23 | | | Government National Mortgage Association, Pool #MA5018 | | | 3.00 | | | | 2/20/48 | | | | 24 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #MA3309 | | | 3.00 | | | | 12/20/45 | | | | 30 | |
| | | | |
| | 35 | | | Government National Mortgage Association, Pool #MA3802 | | | 3.00 | | | | 7/20/46 | | | | 36 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA4068 | | | 3.00 | | | | 11/20/46 | | | | 23 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool # MA4003 | | | 3.00 | | | | 10/20/46 | | | | 23 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA3596 | | | 3.00 | | | | 4/20/46 | | | | 16 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #MA3662 | | | 3.00 | | | | 5/20/46 | | | | 34 | |
| | | | |
| | 21 | | | Government National Mortgage Association, Pool #MA3873 | | | 3.00 | | | | 8/20/46 | | | | 22 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #MA4320 | | | 3.00 | | | | 3/20/47 | | | | 39 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #MA2960 | | | 3.00 | | | | 7/20/45 | | | | 30 | |
| | | | |
| | 40 | | | Government National Mortgage Association, Pool #MA2520 | | | 3.00 | | | | 1/20/45 | | | | 41 | |
| | | | |
| | 37 | | | Government National Mortgage Association, Pool #MA3936 | | | 3.00 | | | | 9/20/46 | | | | 37 | |
| | | | |
| | 65 | | | Government National Mortgage Association, Pool #MA0462 | | | 3.50 | | | | 10/20/42 | | | | 67 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #MA0699 | | | 3.50 | | | | 1/20/43 | | | | 39 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #MA0934 | | | 3.50 | | | | 4/20/43 | | | | 34 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA3521 | | | 3.50 | | | | 3/20/46 | | | | 44 | |
See accompanying notes to financial statements.
202
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 39 | | | Government National Mortgage Association, Pool #MA3173 | | | 3.50 | | | | 10/20/45 | | | $ | 41 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #MA4382 | | | 3.50 | | | | 4/20/47 | | | | 39 | |
| | | | |
| | 45 | | | Government National Mortgage Association, Pool #MA1157 | | | 3.50 | | | | 7/20/43 | | | | 47 | |
| | | | |
| | 15 | | | Government National Mortgage Association, Pool #MA3454 | | | 3.50 | | | | 2/20/46 | | | | 15 | |
| | | | |
| | 19 | | | Government National Mortgage Association, Pool #MA1012 | | | 3.50 | | | | 5/20/43 | | | | 20 | |
| | | | |
| | 41 | | | Government National Mortgage Association, Pool #MA2445 | | | 3.50 | | | | 12/20/44 | | | | 42 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #AC3938 | | | 3.50 | | | | 1/15/43 | | | | 16 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #MA2371 | | | 3.50 | | | | 11/20/44 | | | | 30 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA3244 | | | 3.50 | | | | 11/20/45 | | | | 21 | |
| | | | |
| | 13 | | | Government National Mortgage Association, Pool #AB9211 | | | 3.50 | | | | 11/15/42 | | | | 13 | |
| | | | |
| | 27 | | | Government National Mortgage Association, Pool #MA2223 | | | 3.50 | | | | 9/20/44 | | | | 28 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #MA3597 | | | 3.50 | | | | 4/20/46 | | | | 30 | |
| | | | |
| | 28 | | | Government National Mortgage Association, Pool #MA3105 | | | 3.50 | | | | 9/20/45 | | | | 29 | |
| | | | |
| | 36 | | | Government National Mortgage Association, Pool #MA0318 | | | 3.50 | | | | 8/20/42 | | | | 37 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA2826 | | | 3.50 | | | | 5/20/45 | | | | 23 | |
| | | | |
| | 13 | | | Government National Mortgage Association, Pool #MA1574 | | | 3.50 | | | | 1/20/29 | | | | 14 | |
| | | | |
| | 27 | | | Government National Mortgage Association, Pool #MA3376 | | | 3.50 | | | | 1/20/46 | | | | 28 | |
| | | | |
| | 23 | | | Government National Mortgage Association, Pool #MA2961 | | | 3.50 | | | | 7/20/45 | | | | 24 | |
| | | | |
| | 26 | | | Government National Mortgage Association, Pool #MA3310 | | | 3.50 | | | | 12/20/45 | | | | 27 | |
| | | | |
| | 8 | | | Government National Mortgage Association, Pool #MA1600 | | | 3.50 | | | | 1/20/44 | | | | 9 | |
| | | | |
| | 44 | | | Government National Mortgage Association, Pool #MA0220 | | | 3.50 | | | | 7/20/42 | | | | 46 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA4778 | | | 3.50 | | | | 10/20/47 | | | | 22 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA4719 | | | 3.50 | | | | 9/20/47 | | | | 44 | |
| | | | |
| | 32 | | | Government National Mortgage Association, Pool #MA3803 | | | 3.50 | | | | 7/20/46 | | | | 33 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #AM4971 | | | 3.50 | | | | 4/20/45 | | | | 18 | |
| | | | |
| | 37 | | | Government National Mortgage Association, Pool #MA4321 | | | 3.50 | | | | 3/20/47 | | | | 38 | |
| | | | |
| | 35 | | | Government National Mortgage Association, Pool #MA4127 | | | 3.50 | | | | 12/20/46 | | | | 36 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #MA4004 | | | 3.50 | | | | 10/20/46 | | | | 34 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #MA3937 | | | 3.50 | | | | 9/20/46 | | | | 34 | |
| | | | |
| | 32 | | | Government National Mortgage Association, Pool #MA3874 | | | 3.50 | | | | 8/20/46 | | | | 34 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA4837 | | | 3.50 | | | | 11/20/47 | | | | 23 | |
| | | | |
| | 36 | | | Government National Mortgage Association, Pool #MA4586 | | | 3.50 | | | | 7/20/47 | | | | 37 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #AJ0411 | | | 3.50 | | | | 9/15/44 | | | | 18 | |
| | | | |
| | 37 | | | Government National Mortgage Association, Pool #MA4262 | | | 3.50 | | | | 2/20/47 | | | | 38 | |
| | | | |
| | 15 | | | Government National Mortgage Association, Pool #MA3663 | | | 3.50 | | | | 5/20/46 | | | | 15 | |
| | | | |
| | 31 | | | Government National Mortgage Association, Pool #MA3736 | | | 3.50 | | | | 6/20/46 | | | | 32 | |
| | | | |
| | 40 | | | Government National Mortgage Association, Pool #MA4510 | | | 3.50 | | | | 6/20/47 | | | | 42 | |
| | | | |
| | 42 | | | Government National Mortgage Association, Pool #MA4652 | | | 3.50 | | | | 8/20/47 | | | | 44 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #MA4452 | | | 4.00 | | | | 5/20/47 | | | | 18 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA3804 | | | 4.00 | | | | 7/20/46 | | | | 23 | |
| | | | |
| | 12 | | | Government National Mortgage Association, Pool #MA3377 | | | 4.00 | | | | 1/20/46 | | | | 12 | |
| | | | |
| | 37 | | | Government National Mortgage Association, Pool #MA4587 | | | 4.00 | | | | 7/20/47 | | | | 38 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA4322 | | | 4.00 | | | | 3/20/47 | | | | 17 | |
| | | | |
| | 37 | | | Government National Mortgage Association, Pool #MA3737 | | | 4.00 | | | | 6/20/46 | | | | 39 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #738710 | | | 4.00 | | | | 9/15/41 | | | | 23 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #BD9886 | | | 4.00 | | | | 1/15/48 | | | | 17 | |
| | | | |
| | 11 | | | Government National Mortgage Association, Pool #MA3245 | | | 4.00 | | | | 11/20/45 | | | | 11 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA2304 | | | 4.00 | | | | 10/20/44 | | | | 21 | |
| | | | |
| | 19 | | | Government National Mortgage Association, Pool #MA4653 | | | 4.00 | | | | 8/20/47 | | | | 20 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #MA4383 | | | 4.00 | | | | 4/20/47 | | | | 35 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA1996 | | | 4.00 | | | | 6/20/44 | | | | 21 | |
| | | | |
| | 23 | | | Government National Mortgage Association, Pool #MA5466 | | | 4.00 | | | | 9/20/48 | | | | 24 | |
| | | | |
| | 24 | | | Government National Mortgage Association, Pool #MA5595 | | | 4.00 | | | | 11/20/48 | | | | 25 | |
| | | | |
| | 66 | | | Government National Mortgage Association, Pool #MA1091 | | | 4.00 | | | | 6/20/43 | | | | 70 | |
See accompanying notes to financial statements.
203
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 10 | | | Government National Mortgage Association, Pool #MA0023 | | | 4.00 | | | | 4/20/42 | | | $ | 11 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA2224 | | | 4.00 | | | | 9/20/44 | | | | 21 | |
| | | | |
| | 35 | | | Government National Mortgage Association, Pool #MA4511 | | | 4.00 | | | | 6/20/47 | | | | 36 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA4263 | | | 4.00 | | | | 2/20/47 | | | | 16 | |
| | | | |
| | 19 | | | Government National Mortgage Association, Pool #MA1761 | | | 4.00 | | | | 3/20/44 | | | | 20 | |
| | | | |
| | 25 | | | Government National Mortgage Association, Pool #MA5710 | | | 4.00 | | | | 1/20/49 | | | | 25 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #MA3522 | | | 4.00 | | | | 3/20/46 | | | | 18 | |
| | | | |
| | 24 | | | Government National Mortgage Association, Pool #MA1286 | | | 4.00 | | | | 9/20/43 | | | | 25 | |
| | | | |
| | 25 | | | Government National Mortgage Association, Pool #BB5932 | | | 4.00 | | | | 9/15/47 | | | | 26 | |
| | | | |
| | 25 | | | Government National Mortgage Association, Pool #MA5651 | | | 4.00 | | | | 12/20/48 | | | | 25 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA2756 | | | 4.50 | | | | 4/20/45 | | | | 21 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA5399 | | | 4.50 | | | | 8/20/48 | | | | 45 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #738906 | | | 4.50 | | | | 10/15/41 | | | | 19 | |
| | | | |
| | 42 | | | Government National Mortgage Association, Pool #721760 | | | 4.50 | | | | 8/15/40 | | | | 44 | |
| | | | |
| | 69 | | | Government National Mortgage Association, Pool #4801 | | | 4.50 | | | | 9/20/40 | | | | 73 | |
| | | | |
| | 15 | | | Government National Mortgage Association, Pool #MA2373 | | | 4.50 | | | | 11/20/44 | | | | 15 | |
| | | | |
| | 21 | | | Government National Mortgage Association, Pool #BA2485 | | | 4.50 | | | | 4/15/47 | | | | 22 | |
| | | | |
| | 8 | | | Government National Mortgage Association, Pool #MA1762 | | | 4.50 | | | | 3/20/44 | | | | 9 | |
| | | | |
| | 24 | | | Government National Mortgage Association, Pool #MA5652 | | | 4.50 | | | | 12/20/48 | | | | 25 | |
| | | | |
| | 24 | | | Government National Mortgage Association, Pool #MA5596 | | | 4.50 | | | | 11/20/48 | | | | 25 | |
| | | | |
| | 21 | | | Government National Mortgage Association, Pool #MA5193 | | | 4.50 | | | | 5/20/48 | | | | 22 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA4721 | | | 4.50 | | | | 9/20/47 | | | | 17 | |
| | | | |
| | 47 | | | Government National Mortgage Association, Pool #MA5529 | | | 4.50 | | | | 10/20/48 | | | | 50 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #MA5080 | | | 5.00 | | | | 3/20/48 | | | | 18 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #697946 | | | 5.00 | | | | 3/15/39 | | | | 31 | |
| | | | |
| | 22 | | | Government National Mortgage Association, Pool #MA5530 | | | 5.00 | | | | 10/20/48 | | | | 23 | |
| | | | |
| | 41 | | | Government National Mortgage Association, Pool #4559 | | | 5.00 | | | | 10/20/39 | | | | 44 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #MA0466 | | | 5.50 | | | | 10/20/42 | | | | 19 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #510835 | | | 5.50 | | | | 2/15/35 | | | | 19 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #4222 | | | 6.00 | | | | 8/20/38 | | | | 20 | |
| | | | |
| | 2 | | | Government National Mortgage Association, Pool #582199 | | | 6.50 | | | | 1/15/32 | | | | 3 | |
| | | | |
| | 75 | | | Government National Mortgage Association, 30 YR TBA | | | 3.00 | | | | 7/20/49 | | | | 77 | |
| | | | |
| | 200 | | | Government National Mortgage Association, 30 YR TBA | | | 3.50 | | | | 7/20/48 | | | | 206 | |
| | | | |
| | 250 | | | Government National Mortgage Association, 30 YR TBA | | | 4.00 | | | | 7/20/48 | | | | 260 | |
| | | | |
| | 75 | | | Government National Mortgage Association, 30 YR TBA | | | 4.00 | | | | 8/20/49 | | | | 78 | |
| | | | |
| | 75 | | | Government National Mortgage Association, 30 YR TBA | | | 4.50 | | | | 7/20/48 | | | | 78 | |
| | | | |
| | 50 | | | Government National Mortgage Association, 30 YR TBA | | | 4.50 | | | | 8/20/49 | | | | 52 | |
| | | | |
| | 75 | | | Government National Mortgage Association, 30 YR TBA | | | 5.00 | | | | 7/20/49 | | | | 78 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Mortgages | | | | | | | | | | | 14,519 | |
| | | | | | | | | �� | | | | | | | |
| | | | |
| | | | U.S. Government Agency Securities — 0.95% | | | | | | | | | | | | |
| | | | |
| | 65 | | | Fannie Mae | | | 1.25 | | | | 5/6/21 | | | | 64 | |
| | | | |
| | 50 | | | Fannie Mae, Callable 7/27/19 @ 100.00 | | | 1.70 | | | | 1/27/20 | | | | 50 | |
| | | | |
| | 30 | | | Fannie Mae | | | 2.13 | | | | 4/24/26 | | | | 30 | |
| | | | |
| | 10 | | | Fannie Mae | | | 5.63 | | | | 7/15/37 | | | | 14 | |
| | | | |
| | 20 | | | Fannie Mae | | | 6.63 | | | | 11/15/30 | | | | 29 | |
| | | | |
| | 25 | | | Federal Home Loan Bank | | | 1.13 | | | | 7/14/21 | | | | 25 | |
| | | | |
| | 25 | | | Federal Home Loan Bank | | | 1.38 | | | | 9/28/20 | | | | 25 | |
| | | | |
| | 55 | | | Federal Home Loan Bank | | | 1.88 | | | | 11/29/21 | | | | 55 | |
| | | | |
| | 50 | | | Federal Home Loan Bank | | | 1.88 | | | | 7/7/21 | | | | 50 | |
| | | | |
| | 25 | | | Federal Home Loan Bank | | | 2.13 | | | | 3/10/23 | | | | 25 | |
| | | | |
| | 40 | | | Federal Home Loan Bank | | | 2.88 | | | | 9/13/24 | | | | 42 | |
| | | | |
| | 15 | | | Federal Home Loan Bank | | | 5.63 | | | | 6/11/21 | | | | 16 | |
| | | | |
| | 20 | | | Freddie Mac | | | 1.40 | | | | 8/22/19 | | | | 20 | |
| | | | |
| | 20 | | | Freddie Mac | | | 1.88 | | | | 11/17/20 | | | | 20 | |
See accompanying notes to financial statements.
204
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Securities (continued) | | | | | | | | | | | | |
| | | | |
| $ | 40 | | | Freddie Mac | | | 2.38 | | | | 1/13/22 | | | $ | 41 | |
| | | | |
| | 15 | | | Freddie Mac | | | 6.25 | | | | 7/15/32 | | | | 22 | |
| | | | |
| | 10 | | | Freddie Mac | | | 6.75 | | | | 3/15/31 | | | | 14 | |
| | | | |
| | 25 | | | Freddie Mac | | | 6.75 | | | | 9/15/29 | | | | 35 | |
| | | | |
| | 5 | | | Tennessee Valley Authority | | | 3.50 | | | | 12/15/42 | | | | 5 | |
| | | | |
| | 30 | | | Tennessee Valley Authority | | | 5.88 | | | | 4/1/36 | | | | 41 | |
| | | | |
| | 20 | | | Tennessee Valley Authority, Series E | | | 6.75 | | | | 11/1/25 | | | | 26 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Securities | | | | | | | | | | | 649 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Corporate Bonds — 33.71% | | | | | | | | | | | | |
| | | | |
| | 246 | | | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | | | 3.75 | | | | 11/30/26 | | | | 265 | |
| | | | |
| | 145 | | | AbbVie, Inc. (Biotechnology) | | | 4.40 | | | | 11/6/42 | | | | 142 | |
| | | | |
| | 135 | | | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | | | 4.50 | | | | 5/14/35 | | | | 138 | |
| | | | |
| | 25 | | | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | | | 4.15 | | | | 8/15/44 | | | | 27 | |
| | | | |
| | 245 | | | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | | | 2.50 | | | | 8/1/22 | | | | 246 | |
| | | | |
| | 100 | | | American Express Co. (Consumer Finance), Callable 1/27/23 @ 100.00 | | | 3.40 | | | | 2/27/23 | | | | 103 | |
| | | | |
| | 395 | | | Ameriprise Financial, Inc. (Capital Markets) | | | 3.70 | | | | 10/15/24 | | | | 419 | |
| | | | |
| | 30 | | | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | | | 2.65 | | | | 5/11/22 | | | | 30 | |
| | | | |
| | 280 | | | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | | | 3.13 | | | | 5/1/25 | | | | 287 | |
| | | | |
| | 10 | | | Amgen, Inc. (Biotechnology), Callable 5/15/41 @ 100.00 | | | 5.15 | | | | 11/15/41 | | | | 11 | |
| | | | |
| | 195 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment),
Callable 9/5/26 @ 100.00 | | | 3.50 | | | | 12/5/26 | | | | 199 | |
| | | | |
| | 255 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment),
Callable 9/15/25 @ 100.00 | | | 3.90 | | | | 12/15/25 | | | | 270 | |
| | | | |
| | 140 | | | Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages),
Callable 8/1/35 @ 100.00 | | | 4.70 | | | | 2/1/36 | | | | 153 | |
| | | | |
| | 140 | | | Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages),
Callable 8/1/45 @ 100.00 | | | 4.90 | | | | 2/1/46 | | | | 156 | |
| | | | |
| | 170 | | | Anheuser-Busch InBev N.V. (Beverages), Callable 8/1/35 @ 100.00 | | | 4.70 | | | | 2/1/36 | | | | 186 | |
| | | | |
| | 40 | | | Anthem, Inc. (Health Care Providers & Services) | | | 3.30 | | | | 1/15/23 | | | | 41 | |
| | | | |
| | 162 | | | Anthem, Inc. (Health Care Providers & Services), Callable 9/1/27 @ 100.00 | | | 3.65 | | | | 12/1/27 | | | | 168 | |
| | | | |
| | 70 | | | Anthem, Inc. (Health Care Providers & Services) | | | 4.63 | | | | 5/15/42 | | | | 76 | |
| | | | |
| | 185 | | | Apple, Inc. (Technology Hardware, Storage & Peripherals), Callable 8/23/45 @ 100.00 | | | 4.65 | | | | 2/23/46 | | | | 219 | |
| | | | |
| | 90 | | | Archer-Daniels-Midland Co., Class – C (Food Products) | | | 4.02 | | | | 4/16/43 | | | | 95 | |
| | | | |
| | 340 | | | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | | | 4.45 | | | | 4/1/24 | | | | 366 | |
| | | | |
| | 135 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 5.35 | | | | 9/1/40 | | | | 151 | |
| | | | |
| | 90 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 5.55 | | | | 8/15/41 | | | | 104 | |
| | | | |
| | 40 | | | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | | | 4.13 | | | | 10/15/44 | | | | 44 | |
| | | | |
| | 30 | | | Atmos Energy Corp. (Gas Utilities), Callable 7/15/42 @ 100.00 | | | 4.15 | | | | 1/15/43 | | | | 32 | |
| | | | |
| | 855 | | | Bank of America Corp., MTN (Banks) | | | 3.88 | | | | 8/1/25 | | | | 914 | |
| | | | |
| | 135 | | | Bank One Corp. (Banks) | | | 8.00 | | | | 4/29/27 | | | | 178 | |
| | | | |
| | 270 | | | Berkshire Hathaway, Inc. (Multi-Utilities), Callable 8/1/44 @ 100.00 | | | 4.50 | | | | 2/1/45 | | | | 302 | |
| | | | |
| | 75 | | | Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 6.80 | | | | 11/15/26 | | | | 94 | |
| | | | |
| | 50 | | | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | | | 3.00 | | | | 9/25/22 | | | | 50 | |
| | | | |
| | 155 | | | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | | | 3.25 | | | | 8/15/26 | | | | 151 | |
| | | | |
| | 130 | | | Capital One Finance Corp. (Consumer Finance), Callable 9/30/24 @ 100.00 | | | 3.30 | | | | 10/30/24 | | | | 133 | |
| | | | |
| | 470 | | | Capital One Financial Corp. (Consumer Finance) | | | 3.50 | | | | 6/15/23 | | | | 487 | |
| | | | |
| | 35 | | | Cisco Systems, Inc. (Communications Equipment) | | | 5.50 | | | | 1/15/40 | | | | 46 | |
| | | | |
| | 250 | | | Citibank NA, Series BKNT (Banks), Callable 12/23/23 @ 100.00 | | | 3.65 | | | | 1/23/24 | | | | 263 | |
| | | | |
| | 555 | | | Citigroup, Inc. (Banks) | | | 3.40 | | | | 5/1/26 | | | | 572 | |
| | | | |
| | 35 | | | Comcast Corp. (Media), Callable 9/1/37 @ 100.00 | | | 3.90 | | | | 3/1/38 | | | | 37 | |
| | | | |
| | 245 | | | Comcast Corp. (Media) | | | 4.75 | | | | 3/1/44 | | | | 284 | |
| | | | |
| | 170 | | | ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 6.50 | | | | 2/1/39 | | | | 239 | |
| | | | |
| | 20 | | | Consolidated Edison Company of New York, Inc.,
Series2008-B (Multi-Utilities) | | | 6.75 | | | | 4/1/38 | | | | 28 | |
| | | | |
| | 180 | | | Constellation Brands, Inc. (Beverages) | | | 4.75 | | | | 11/15/24 | | | | 197 | |
See accompanying notes to financial statements.
205
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 45 | | | Constellation Brands, Inc. (Beverages) | | | 4.75 | | | | 12/1/25 | | | $ | 50 | |
| | | | |
| | 210 | | | CSX Corp. (Road & Rail) | | | 6.22 | | | | 4/30/40 | | | | 273 | |
| | | | |
| | 115 | | | CVS Health Corp. (Health Care Providers & Services), Callable 9/1/22 @ 100.00 | | | 2.75 | | | | 12/1/22 | | | | 115 | |
| | | | |
| | 125 | | | CVS Health Corp. (Health Care Providers & Services), Callable 2/9/23 @ 100.00 | | | 3.70 | | | | 3/9/23 | | | | 129 | |
| | | | |
| | 535 | | | CVS Health Corp. (Health Care Providers & Services), Callable 12/25/27 @ 100.00 | | | 4.30 | | | | 3/25/28 | | | | 563 | |
| | | | |
| | 100 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 3.25 | | | | 5/15/22 | | | | 104 | |
| | | | |
| | 188 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | | | 5.60 | | | | 7/15/41 | | | | 223 | |
| | | | |
| | 225 | | | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | | | 2.75 | | | | 2/1/23 | | | | 225 | |
| | | | |
| | 225 | | | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | | | 3.60 | | | | 12/15/24 | | | | 234 | |
| | | | |
| | 35 | | | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | | | 4.25 | | | | 12/15/41 | | | | 38 | |
| | | | |
| | 100 | | | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | | | 3.75 | | | | 4/15/24 | | | | 105 | |
| | | | |
| | 25 | | | Duke Energy Progress LLC (Electric Utilities), Callable 2/15/45 @ 100.00 | | | 4.20 | | | | 8/15/45 | | | | 27 | |
| | | | |
| | 140 | | | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels), Callable 3/15/28 @ 100.00 | | | 4.95 | | | | 6/15/28 | | | | 152 | |
| | | | |
| | 85 | | | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels),
Callable 11/15/24 @ 100.00 | | | 3.75 | | | | 2/15/25 | | | | 90 | |
| | | | |
| | 184 | | | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels),
Callable 9/15/43 @ 100.00 | | | 4.85 | | | | 3/15/44 | | | | 203 | |
| | | | |
| | 100 | | | FedEx Corp. (Air Freight & Logistics) | | | 4.90 | | | | 1/15/34 | | | | 116 | |
| | | | |
| | 35 | | | Fiserv, Inc. (IT Services), Callable 4/1/29 @ 100.00 | | | 3.50 | | | | 7/1/29 | | | | 36 | |
| | | | |
| | 190 | | | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | | | 3.85 | | | | 6/1/25 | | | | 201 | |
| | | | |
| | 10 | | | Fiserv, Inc. (IT Services), Callable 1/1/49 @ 100.00 | | | 4.40 | | | | 7/1/49 | | | | 10 | |
| | | | |
| | 295 | | | General Motors Financial Co. (Consumer Finance), Callable 2/1/21 @ 100.00 | | | 4.20 | | | | 3/1/21 | | | | 301 | |
| | | | |
| | 101 | | | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | | | 4.50 | | | | 2/1/45 | | | | 111 | |
| | | | |
| | 50 | | | GlaxoSmithKline PLC (Diversified Financial Services) | | | 6.38 | | | | 5/15/38 | | | | 69 | |
| | | | |
| | 315 | | | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | | | 3.50 | | | | 1/23/25 | | | | 324 | |
| | | | |
| | 255 | | | Goldman Sachs Group, Inc. (Capital Markets) | | | 5.25 | | | | 7/27/21 | | | | 269 | |
| | | | |
| | 145 | | | Home Depot, Inc. (The) (Specialty Retail), Callable 3/15/40 @ 100.00 | | | 5.40 | | | | 9/15/40 | | | | 184 | |
| | | | |
| | 105 | | | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | | | 6.00 | | | | 11/15/41 | | | | 122 | |
| | | | |
| | 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 | | | | 269 | |
| | | | |
| | 400 | | | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | | | 3.13 | | | | 1/23/25 | | | | 411 | |
| | | | |
| | 120 | | | JPMorgan Chase & Co. (Banks), Callable 4/15/25 @ 100.00 | | | 3.90 | | | | 7/15/25 | | | | 128 | |
| | | | |
| | 110 | | | Lincoln National Corp. (Insurance), Callable 9/15/26 @ 100.00 | | | 3.63 | | | | 12/12/26 | | | | 114 | |
| | | | |
| | 175 | | | Lincoln National Corp. (Insurance) | | | 7.00 | | | | 6/15/40 | | | | 240 | |
| | | | |
| | 135 | | | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | | | 4.50 | | | | 5/15/36 | | | | 155 | |
| | | | |
| | 85 | | | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | | | 4.88 | | | | 3/15/44 | | | | 90 | |
| | | | |
| | 45 | | | Martin Marietta Materials, Inc. (Construction Materials), Callable 3/1/27 @ 100.00 | | | 3.45 | | | | 6/1/27 | | | | 45 | |
| | | | |
| | 135 | | | Martin Marietta Materials, Inc. (Construction Materials), Callable 4/2/24 @ 100.00 | | | 4.25 | | | | 7/2/24 | | | | 143 | |
| | | | |
| | 110 | | | Medtronic, Inc. (Health Care Equipment & Supplies) | | | 4.38 | | | | 3/15/35 | | | | 126 | |
| | | | |
| | 70 | | | MetLife, Inc. (Insurance) | | | 5.70 | | | | 6/15/35 | | | | 89 | |
| | | | |
| | 310 | | | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | | | 4.50 | | | | 2/6/57 | | | | 376 | |
| | | | |
| | 305 | | | Morgan Stanley (Capital Markets) | | | 2.63 | | | | 11/17/21 | | | | 307 | |
| | | | |
| | 355 | | | Morgan Stanley (Capital Markets) | | | 3.13 | | | | 1/23/23 | | | | 363 | |
| | | | |
| | 255 | | | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services),
Callable 12/7/23 @ 100.00 | | | 2.95 | | | | 2/7/24 | | | | 262 | |
| | | | |
| | 110 | | | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | | | 5.20 | | | | 8/1/43 | | | | 129 | |
| | | | |
| | 195 | | | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | | | 3.20 | | | | 9/16/26 | | | | 199 | |
| | | | |
| | 173 | | | Oracle Corp. (Software) | | | 5.38 | | | | 7/15/40 | | | | 219 | |
| | | | |
| | 100 | | | Pfizer, Inc. (Pharmaceuticals), Callable 3/15/38 @ 100.00 | | | 4.10 | | | | 9/15/38 | | | | 110 | |
| | | | |
| | 75 | | | Philip Morris International, Inc. (Tobacco) | | | 3.25 | | | | 11/10/24 | | | | 77 | |
| | | | |
| | 105 | | | Philip Morris International, Inc. (Tobacco) | | | 4.50 | | | | 3/20/42 | | | | 113 | |
| | | | |
| | 95 | | | Principal Financial Group, Inc. (Insurance), Callable 2/15/25 @ 100.00 | | | 3.40 | | | | 5/15/25 | | | | 99 | |
| | | | |
| | 46 | | | Procter & Gamble Co. (The) (Household Products) | | | 9.36 | | | | 1/1/21 | | | | 49 | |
| | | | |
| | 170 | | | Progress Energy, Inc. (Electric Utilities) | | | 6.00 | | | | 12/1/39 | | | | 213 | |
| | | | |
| | 45 | | | Prudential Financial, Inc., MTN (Insurance), Callable 12/27/27 @ 100.00 | | | 3.88 | | | | 3/27/28 | | | | 49 | |
See accompanying notes to financial statements.
206
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 15 | | | Prudential Financial, Inc. (Insurance) | | | 6.63 | | | | 6/21/40 | | | $ | 21 | |
| | | | |
| | 30 | | | Public Service Electric & Gas Co. (Electric Utilities), Callable 3/1/42 @ 100.00 | | | 3.65 | | | | 9/1/42 | | | | 31 | |
| | | | |
| | 125 | | | RELX Capital, Inc. (Professional Services), Callable 7/15/22 @ 100.00 | | | 3.13 | | | | 10/15/22 | | | | 127 | |
| | | | |
| | 170 | | | RELX Capital, Inc. (Professional Services), Callable 2/16/23 @ 100.00 | | | 3.50 | | | | 3/16/23 | | | | 175 | |
| | | | |
| | 155 | | | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | | | 3.50 | | | | 3/15/27 | | | | 162 | |
| | | | |
| | 35 | | | Roper Industries, Inc. (Industrial Conglomerates), Callable 8/15/22 @ 100.00 | | | 3.13 | | | | 11/15/22 | | | | 36 | |
| | | | |
| | 190 | | | Roper Technologies, Inc. (Industrial Conglomerates), Callable 9/15/25 @ 100.00 | | | 3.85 | | | | 12/15/25 | | | | 199 | |
| | | | |
| | 115 | | | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | | | 2.80 | | | | 3/1/22 | | | | 116 | |
| | | | |
| | 50 | | | Ryder System, Inc. (Road & Rail), Callable 10/15/21 @ 100.00 | | | 3.45 | | | | 11/15/21 | | | | 51 | |
| | | | |
| | 150 | | | Southern Co. Gas Capital Corp. (Electric Utilities), Callable 8/1/23 @ 100.00 | | | 2.45 | | | | 10/1/23 | | | | 149 | |
| | | | |
| | 30 | | | Southern Co. Gas Capital Corp. (Electric Utilities), Callable 3/15/26 @ 100.00 | | | 3.25 | | | | 6/15/26 | | | | 30 | |
| | | | |
| | 60 | | | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | | | 3.00 | | | | 11/15/26 | | | | 60 | |
| | | | |
| | 153 | | | Southwest Airlines Co., Series2017-1 (Airlines) | | | 6.15 | | | | 2/1/24 | | | | 162 | |
| | | | |
| | 255 | | | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/22 @ 100.00 | | | 3.45 | | | | 1/15/23 | | | | 258 | |
| | | | |
| | 185 | | | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/42 @ 100.00 | | | 4.95 | | | | 1/15/43 | | | | 182 | |
| | | | |
| | 190 | | | SunTrust Banks, Inc. (Banks), Callable 12/27/21 @ 100.00 | | | 2.70 | | | | 1/27/22 | | | | 191 | |
| | | | |
| | 150 | | | TCI Communications, Inc. (Media) | | | 7.88 | | | | 2/15/26 | | | | 194 | |
| | | | |
| | 115 | | | The Home Depot, Inc. (Specialty Retail), Callable 6/6/48 @ 100.00 | | | 4.50 | | | | 12/6/48 | | | | 135 | |
| | | | |
| | 205 | | | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | | | 3.13 | | | | 6/1/24 | | | | 210 | |
| | | | |
| | 15 | | | The Sherwin-Williams Co. (Chemicals), Callable 5/1/25 @ 100.00 | | | 3.45 | | | | 8/1/25 | | | | 15 | |
| | | | |
| | 170 | | | The Travelers Companies, Inc. (Insurance) | | | 6.25 | | | | 6/15/37 | | | | 233 | |
| | | | |
| | 40 | | | The Walt Disney Co. (The) (Entertainment), Callable 3/15/44 @ 100.00 | | | 4.75 | | | | 9/15/44 | | | | 49 | |
| | | | |
| | 250 | | | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 11/1/23 @ 100.00 | | | 4.15 | | | | 2/1/24 | | | | 267 | |
| | | | |
| | 115 | | | Toyota Motor Credit Corp., MTN (Consumer Finance) | | | 2.90 | | | | 4/17/24 | | | | 118 | |
| | | | |
| | 95 | | | Union Pacific Corp. (Road & Rail), Callable 6/10/28 @ 100.00 | | | 3.95 | | | | 9/10/28 | | | | 104 | |
| | | | |
| | 30 | | | United Parcel Service, Inc. (Air Freight & Logistics), Callable 9/15/48 @ 100.00 | | | 4.25 | | | | 3/15/49 | | | | 33 | |
| | | | |
| | 50 | | | United Technologies Corp. (Aerospace & Defense) | | | 4.50 | | | | 6/1/42 | | | | 56 | |
| | | | |
| | 75 | | | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 5/15/41 @ 100.00 | | | 4.63 | | | | 11/15/41 | | | | 85 | |
| | | | |
| | 85 | | | UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 4.75 | | | | 7/15/45 | | | | 101 | |
| | | | |
| | 110 | | | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 6.63 | | | | 6/15/37 | | | | 139 | |
| | | | |
| | 40 | | | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | | | 3.25 | | | | 8/15/22 | | | | 41 | |
| | | | |
| | 175 | | | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | | | 3.50 | | | | 2/1/25 | | | | 180 | |
| | | | |
| | 515 | | | Verizon Communications, Inc. (Diversified Telecommunication Services),
Callable 9/3/29 @ 100.00 | | | 4.02 | | | | 12/3/29 | | | | 557 | |
| | | | |
| | 200 | | | Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 5.01 | | | | 8/21/54 | | | | 239 | |
| | | | |
| | 80 | | | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | | | 4.65 | | | | 8/15/43 | | | | 91 | |
| | | | |
| | 60 | | | Walmart, Inc. (Food & Staples Retailing) | | | 5.63 | | | | 4/1/40 | | | | 81 | |
| | | | |
| | 85 | | | Walt Disney Co. (The) (Entertainment) | | | 6.20 | | | | 12/15/34 | | | | 114 | |
| | | | |
| | 135 | | | Waste Management, Inc. (Commercial Services & Supplies), Callable 3/15/29 @ 100.00 | | | 3.45 | | | | 6/15/29 | | | | 141 | |
| | | | |
| | 65 | | | Waste Management, Inc. (Commercial Services & Supplies), Callable 1/15/39 @ 100.00 | | | 4.00 | | | | 7/15/39 | | | | 70 | |
| | | | |
| | 140 | | | Wells Fargo & Co., MTN (Banks) | | | 2.63 | | | | 7/22/22 | | | | 141 | |
| | | | |
| | 470 | | | Wells Fargo & Co. (Banks) | | | 3.00 | | | | 2/19/25 | | | | 475 | |
| | | | |
| | 35 | | | Wells Fargo & Co. (Banks) | | | 3.30 | | | | 9/9/24 | | | | 36 | |
| | | | |
| | 70 | | | Wells Fargo & Co., MTN (Banks), Callable 10/24/28 @ 100.00 | | | 4.15 | | | | 1/24/29 | | | | 76 | |
| | | | |
| | 250 | | | WestRock Co. (Containers & Packaging) | | | 4.90 | | | | 3/1/22 | | | | 265 | |
| | | | |
| | 55 | | | Westvaco Corp. (Containers & Packaging) | | | 8.20 | | | | 1/15/30 | | | | 75 | |
| | | | |
| | 100 | | | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 6.75 | | | | 8/1/37 | | | | 142 | |
| | | | | | | | | | | | | | | | |
| | | | Total Corporate Bonds | | | | | | | | | | | 23,012 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | U.S. Treasury Obligations — 30.11% | | | | | | | | | | | | |
| | | | |
| | 117 | | | U.S. Treasury Bond | | | 2.25 | | | | 8/15/46 | | | | 110 | |
| | | | |
| | 170 | | | U.S. Treasury Bond | | | 2.50 | | | | 2/15/46 | | | | 169 | |
| | | | |
| | 60 | | | U.S. Treasury Bond | | | 2.50 | | | | 2/15/45 | | | | 60 | |
| | | | |
| | 125 | | | U.S. Treasury Bond | | | 2.50 | | | | 5/15/46 | | | | 124 | |
| | | | |
| | 79 | | | U.S. Treasury Bond | | | 2.75 | | | | 11/15/42 | | | | 83 | |
See accompanying notes to financial statements.
207
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 58 | | | U.S. Treasury Bond | | | 2.75 | | | | 8/15/42 | | | $ | 61 | |
| | | | |
| | 150 | | | U.S. Treasury Bond | | | 2.75 | | | | 11/15/47 | | | | 156 | |
| | | | |
| | 40 | | | U.S. Treasury Bond | | | 2.75 | | | | 8/15/47 | | | | 42 | |
| | | | |
| | 125 | | | U.S. Treasury Bond | | | 2.88 | | | | 5/15/43 | | | | 134 | |
| | | | |
| | 110 | | | U.S. Treasury Bond | | | 2.88 | | | | 8/15/45 | | | | 117 | |
| | | | |
| | 69 | | | U.S. Treasury Bond | | | 2.88 | | | | 5/15/49 | | | | 74 | |
| | | | |
| | 115 | | | U.S. Treasury Bond | | | 2.88 | | | | 11/15/46 | | | | 123 | |
| | | | |
| | 120 | | | U.S. Treasury Bond | | | 3.00 | | | | 8/15/48 | | | | 131 | |
| | | | |
| | 100 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/47 | | | | 109 | |
| | | | |
| | 160 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/47 | | | | 175 | |
| | | | |
| | 44 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/42 | | | | 48 | |
| | | | |
| | 50 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/45 | | | | 55 | |
| | | | |
| | 125 | | | U.S. Treasury Bond | | | 3.00 | | | | 11/15/44 | | | | 136 | |
| | | | |
| | 50 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/48 | | | | 55 | |
| | | | |
| | 75 | | | U.S. Treasury Bond | | | 3.00 | | | | 11/15/45 | | | | 82 | |
| | | | |
| | 90 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/49 | | | | 99 | |
| | | | |
| | 67 | | | U.S. Treasury Bond | | | 3.13 | | | | 2/15/42 | | | | 75 | |
| | | | |
| | 15 | | | U.S. Treasury Bond | | | 3.13 | | | | 11/15/41 | | | | 17 | |
| | | | |
| | 90 | | | U.S. Treasury Bond | | | 3.13 | | | | 2/15/43 | | | | 100 | |
| | | | |
| | 80 | | | U.S. Treasury Bond | | | 3.13 | | | | 5/15/48 | | | | 90 | |
| | | | |
| | 115 | | | U.S. Treasury Bond | | | 3.13 | | | | 8/15/44 | | | | 128 | |
| | | | |
| | 75 | | | U.S. Treasury Bond | | | 3.38 | | | | 5/15/44 | | | | 87 | |
| | | | |
| | 50 | | | U.S. Treasury Bond | | | 3.38 | | | | 11/15/48 | | | | 59 | |
| | | | |
| | 115 | | | U.S. Treasury Bond | | | 3.63 | | | | 2/15/44 | | | | 139 | |
| | | | |
| | 75 | | | U.S. Treasury Bond | | | 3.63 | | | | 8/15/43 | | | | 90 | |
| | | | |
| | 53 | | | U.S. Treasury Bond | | | 3.75 | | | | 8/15/41 | | | | 65 | |
| | | | |
| | 120 | | | U.S. Treasury Bond | | | 3.75 | | | | 11/15/43 | | | | 148 | |
| | | | |
| | 10 | | | U.S. Treasury Bond | | | 3.88 | | | | 8/15/40 | | | | 12 | |
| | | | |
| | 40 | | | U.S. Treasury Bond | | | 4.25 | | | | 11/15/40 | | | | 52 | |
| | | | |
| | 60 | | | U.S. Treasury Bond | | | 4.38 | | | | 5/15/40 | | | | 80 | |
| | | | |
| | 35 | | | U.S. Treasury Bond | | | 4.38 | | | | 5/15/41 | | | | 47 | |
| | | | |
| | 25 | | | U.S. Treasury Bond | | | 4.38 | | | | 2/15/38 | | | | 33 | |
| | | | |
| | 25 | | | U.S. Treasury Bond | | | 4.38 | | | | 11/15/39 | | | | 33 | |
| | | | |
| | 10 | | | U.S. Treasury Bond | | | 4.50 | | | | 2/15/36 | | | | 13 | |
| | | | |
| | 20 | | | U.S. Treasury Bond | | | 4.63 | | | | 2/15/40 | | | | 27 | |
| | | | |
| | 70 | | | U.S. Treasury Bond | | | 4.75 | | | | 2/15/41 | | | | 98 | |
| | | | |
| | 40 | | | U.S. Treasury Bond | | | 5.00 | | | | 5/15/37 | | | | 56 | |
| | | | |
| | 20 | | | U.S. Treasury Bond | | | 5.25 | | | | 2/15/29 | | | | 26 | |
| | | | |
| | 55 | | | U.S. Treasury Bond | | | 5.38 | | | | 2/15/31 | | | | 74 | |
| | | | |
| | 25 | | | U.S. Treasury Bond | | | 6.00 | | | | 2/15/26 | | | | 31 | |
| | | | |
| | 25 | | | U.S. Treasury Bond | | | 6.13 | | | | 8/15/29 | | | | 34 | |
| | | | |
| | 35 | | | U.S. Treasury Bond | | | 6.13 | | | | 11/15/27 | | | | 46 | |
| | | | |
| | 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 | | | | 22 | |
| | | | |
| | 15 | | | U.S. Treasury Bond | | | 7.63 | | | | 2/15/25 | | | | 20 | |
| | | | |
| | 40 | | | U.S. Treasury Bond | | | 8.00 | | | | 11/15/21 | | | | 46 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 1.13 | | | | 9/30/21 | | | | 79 | |
| | | | |
| | 35 | | | U.S. Treasury Note | | | 1.13 | | | | 2/28/21 | | | | 35 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 1.13 | | | | 7/31/21 | | | | 104 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 1.13 | | | | 8/31/21 | | | | 104 | |
| | | | |
| | 30 | | | U.S. Treasury Note | | | 1.25 | | | | 10/31/21 | | | | 30 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.25 | | | | 3/31/21 | | | | 99 | |
| | | | |
| | 155 | | | U.S. Treasury Note | | | 1.38 | | | | 10/31/20 | | | | 154 | |
See accompanying notes to financial statements.
208
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 80 | | | U.S. Treasury Note | | | 1.38 | | | | 1/31/21 | | | $ | 79 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.38 | | | | 8/31/20 | | | | 50 | |
| | | | |
| | 155 | | | U.S. Treasury Note | | | 1.38 | | | | 9/30/20 | | | | 154 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.38 | | | | 9/30/23 | | | | 49 | |
| | | | |
| | 70 | | | U.S. Treasury Note | | | 1.38 | | | | 6/30/23 | | | | 69 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.38 | | | | 5/31/21 | | | | 99 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.38 | | | | 5/31/20 | | | | 50 | |
| | | | |
| | 125 | | | U.S. Treasury Note | | | 1.38 | | | | 8/31/23 | | | | 123 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.38 | | | | 4/30/21 | | | | 99 | |
| | | | |
| | 20 | | | U.S. Treasury Note | | | 1.38 | | | | 9/15/20 | | | | 20 | |
| | | | |
| | 45 | | | U.S. Treasury Note | | | 1.50 | | | | 8/15/26 | | | | 44 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 1.50 | | | | 2/28/23 | | | | 104 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 1.50 | | | | 5/31/20 | | | | 105 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.50 | | | | 3/31/23 | | | | 99 | |
| | | | |
| | 55 | | | U.S. Treasury Note | | | 1.50 | | | | 1/31/22 | | | | 55 | |
| | | | |
| | 10 | | | U.S. Treasury Note | | | 1.50 | | | | 5/15/20 | | | | 10 | |
| | | | |
| | 60 | | | U.S. Treasury Note | | | 1.63 | | | | 7/31/20 | | | | 60 | |
| | | | |
| | 65 | | | U.S. Treasury Note | | | 1.63 | | | | 8/15/22 | | | | 65 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.63 | | | | 10/31/23 | | | | 99 | |
| | | | |
| | 120 | | | U.S. Treasury Note | | | 1.63 | | | | 2/15/26 | | | | 118 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 1.63 | | | | 5/31/23 | | | | 80 | |
| | | | |
| | 35 | | | U.S. Treasury Note | | | 1.63 | | | | 10/15/20 | | | | 35 | |
| | | | |
| | 102 | | | U.S. Treasury Note | | | 1.63 | | | | 11/15/22 | | | | 102 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.63 | | | | 4/30/23 | | | | 100 | |
| | | | |
| | 185 | | | U.S. Treasury Note | | | 1.63 | | | | 5/15/26 | | | | 182 | |
| | | | |
| | 155 | | | U.S. Treasury Note | | | 1.63 | | | | 11/30/20 | | | | 154 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.63 | | | | 6/30/21 | | | | 50 | |
| | | | |
| | 75 | | | U.S. Treasury Note | | | 1.75 | | | | 6/30/24 | | | | 75 | |
| | | | |
| | 115 | | | U.S. Treasury Note | | | 1.75 | | | | 4/30/22 | | | | 115 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.75 | | | | 6/15/22 | | | | 50 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 1.75 | | | | 3/31/22 | | | | 85 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 1.75 | | | | 10/31/20 | | | | 95 | |
| | | | |
| | 5 | | | U.S. Treasury Note | | | 1.75 | | | | 11/30/21 | | | | 5 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 1.75 | | | | 9/30/22 | | | | 110 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 1.75 | | | | 2/28/22 | | | | 85 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 1.75 | | | | 1/31/23 | | | | 80 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 1.75 | | | | 5/15/22 | | | | 90 | |
| | | | |
| | 164 | | | U.S. Treasury Note | | | 1.75 | | | | 5/15/23 | | | | 164 | |
| | | | |
| | 60 | | | U.S. Treasury Note | | | 1.75 | | | | 12/31/20 | | | | 60 | |
| | | | |
| | 20 | | | U.S. Treasury Note | | | 1.88 | | | | 8/31/24 | | | | 20 | |
| | | | |
| | 65 | | | U.S. Treasury Note | | | 1.88 | | | | 7/31/22 | | | | 65 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 1.88 | | | | 1/31/22 | | | | 105 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 1.88 | | | | 3/31/22 | | | | 100 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 1.88 | | | | 9/30/22 | | | | 90 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 1.88 | | | | 11/30/21 | | | | 110 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 1.88 | | | | 5/31/22 | | | | 85 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.88 | | | | 2/28/22 | | | | 50 | |
| | | | |
| | 125 | | | U.S. Treasury Note | | | 1.88 | | | | 4/30/22 | | | | 125 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 1.88 | | | | 6/30/26 | | | | 50 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 1.88 | | | | 8/31/22 | | | | 85 | |
| | | | |
| | 70 | | | U.S. Treasury Note | | | 1.88 | | | | 10/31/22 | | | | 70 | |
| | | | |
| | 60 | | | U.S. Treasury Note | | | 2.00 | | | | 10/31/21 | | | | 60 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.00 | | | | 8/31/21 | | | | 80 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.00 | | | | 7/31/20 | | | | 50 | |
See accompanying notes to financial statements.
209
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 100 | | | U.S. Treasury Note | | | 2.00 | | | | 2/28/21 | | | $ | 100 | |
| | | | |
| | 145 | | | U.S. Treasury Note | | | 2.00 | | | | 11/15/21 | | | | 146 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.00 | | | | 2/15/22 | | | | 101 | |
| | | | |
| | 195 | | | U.S. Treasury Note | | | 2.00 | | | | 2/15/25 | | | | 198 | |
| | | | |
| | 195 | | | U.S. Treasury Note | | | 2.00 | | | | 8/15/25 | | | | 198 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.00 | | | | 12/31/21 | | | | 111 | |
| | | | |
| | 10 | | | U.S. Treasury Note | | | 2.00 | | | | 1/15/21 | | | | 10 | |
| | | | |
| | 185 | | | U.S. Treasury Note | | | 2.00 | | | | 11/15/26 | | | | 186 | |
| | | | |
| | 150 | | | U.S. Treasury Note | | | 2.00 | | | | 11/30/22 | | | | 151 | |
| | | | |
| | 65 | | | U.S. Treasury Note | | | 2.00 | | | | 9/30/20 | | | | 65 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.00 | | | | 10/31/22 | | | | 101 | |
| | | | |
| | 120 | | | U.S. Treasury Note | | | 2.00 | | | | 4/30/24 | | | | 121 | |
| | | | |
| | 125 | | | U.S. Treasury Note | | | 2.00 | | | | 6/30/24 | | | | 126 | |
| | | | |
| | 125 | | | U.S. Treasury Note | | | 2.00 | | | | 5/31/24 | | | | 126 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.00 | | | | 7/31/22 | | | | 96 | |
| | | | |
| | 25 | | | U.S. Treasury Note | | | 2.00 | | | | 11/30/20 | | | | 25 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.00 | | | | 5/31/21 | | | | 100 | |
| | | | |
| | 30 | | | U.S. Treasury Note | | | 2.13 | | | | 1/31/21 | | | | 30 | |
| | | | |
| | 70 | | | U.S. Treasury Note | | | 2.13 | | | | 3/31/24 | | | | 71 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.13 | | | | 11/30/23 | | | | 91 | |
| | | | |
| | 65 | | | U.S. Treasury Note | | | 2.13 | | | | 9/30/21 | | | | 66 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.13 | | | | 8/31/20 | | | | 80 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.13 | | | | 5/31/26 | | | | 102 | |
| | | | |
| | 45 | | | U.S. Treasury Note | | | 2.13 | | | | 8/15/21 | | | | 45 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.13 | | | | 12/31/22 | | | | 111 | |
| | | | |
| | 70 | | | U.S. Treasury Note | | | 2.13 | | | | 6/30/21 | | | | 70 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.13 | | | | 2/29/24 | | | | 107 | |
| | | | |
| | 35 | | | U.S. Treasury Note | | | 2.13 | | | | 11/30/24 | | | | 36 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.13 | | | | 12/31/21 | | | | 106 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.13 | | | | 6/30/22 | | | | 91 | |
| | | | |
| | 45 | | | U.S. Treasury Note | | | 2.13 | | | | 7/31/24 | | | | 46 | |
| | | | |
| | 145 | | | U.S. Treasury Note | | | 2.13 | | | | 5/15/25 | | | | 147 | |
| | | | |
| | 40 | | | U.S. Treasury Note | | | 2.25 | | | | 10/31/24 | | | | 41 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.25 | | | | 3/31/26 | | | | 82 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.25 | | | | 12/31/24 | | | | 82 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 2.25 | | | | 2/15/21 | | | | 86 | |
| | | | |
| | 185 | | | U.S. Treasury Note | | | 2.25 | | | | 8/15/27 | | | | 189 | |
| | | | |
| | 180 | | | U.S. Treasury Note | | | 2.25 | | | | 3/31/21 | | | | 181 | |
| | | | |
| | 175 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/27 | | | | 179 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.25 | | | | 4/30/24 | | | | 51 | |
| | | | |
| | 150 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/24 | | | | 153 | |
| | | | |
| | 40 | | | U.S. Treasury Note | | | 2.25 | | | | 7/31/21 | | | | 40 | |
| | | | |
| | 40 | | | U.S. Treasury Note | | | 2.25 | | | | 4/30/21 | | | | 40 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.25 | | | | 4/15/22 | | | | 101 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.25 | | | | 12/31/23 | | | | 82 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.25 | | | | 1/31/24 | | | | 82 | |
| | | | |
| | 225 | | | U.S. Treasury Note | | | 2.25 | | | | 2/15/27 | | | | 231 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/25 | | | | 97 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.38 | | | | 3/15/22 | | | | 97 | |
| | | | |
| | 175 | | | U.S. Treasury Note | | | 2.38 | | | | 5/15/27 | | | | 181 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.38 | | | | 8/15/24 | | | | 103 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.38 | | | | 1/31/23 | | | | 112 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.38 | | | | 4/15/21 | | | | 91 | |
| | | | |
| | 70 | | | U.S. Treasury Note | | | 2.38 | | | | 12/31/20 | | | | 71 | |
See accompanying notes to financial statements.
210
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 70 | | | U.S. Treasury Note | | | 2.38 | | | | 5/15/29 | | | $ | 72 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.38 | | | | 4/30/26 | | | | 83 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.38 | | | | 2/29/24 | | | | 103 | |
| | | | |
| | 10 | | | U.S. Treasury Note | | | 2.38 | | | | 3/15/21 | | | | 10 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/25 | | | | 93 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.50 | | | | 2/28/21 | | | | 111 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/24 | | | | 52 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.50 | | | | 2/15/22 | | | | 107 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.50 | | | | 1/15/22 | | | | 51 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.50 | | | | 5/15/24 | | | | 109 | |
| | | | |
| | 127 | | | U.S. Treasury Note | | | 2.50 | | | | 8/15/23 | | | | 131 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.50 | | | | 3/31/23 | | | | 51 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.50 | | | | 12/31/20 | | | | 111 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 2.50 | | | | 2/28/26 | | | | 88 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/21 | | | | 111 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 2.63 | | | | 1/31/26 | | | | 89 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.63 | | | | 12/31/25 | | | | 94 | |
| | | | |
| | 165 | | | U.S. Treasury Note | | | 2.63 | | | | 2/15/29 | | | | 174 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.63 | | | | 12/15/21 | | | | 107 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.63 | | | | 12/31/23 | | | | 104 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.63 | | | | 11/15/20 | | | | 101 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.63 | | | | 7/31/20 | | | | 91 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.63 | | | | 5/15/21 | | | | 96 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.63 | | | | 2/28/23 | | | | 113 | |
| | | | |
| | 130 | | | U.S. Treasury Note | | | 2.63 | | | | 7/15/21 | | | | 132 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.63 | | | | 6/15/21 | | | | 97 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.63 | | | | 6/30/23 | | | | 109 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.63 | | | | 8/31/20 | | | | 101 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.63 | | | | 3/31/25 | | | | 104 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.75 | | | | 6/30/25 | | | | 95 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.75 | | | | 11/15/23 | | | | 99 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.75 | | | | 11/30/20 | | | | 111 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.75 | | | | 8/31/23 | | | | 109 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.75 | | | | 2/15/24 | | | | 104 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 2.75 | | | | 8/31/25 | | | | 89 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.75 | | | | 9/15/21 | | | | 102 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.75 | | | | 5/31/23 | | | | 99 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.75 | | | | 9/30/20 | | | | 106 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.75 | | | | 2/28/25 | | | | 95 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.75 | | | | 2/15/28 | | | | 85 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.75 | | | | 7/31/23 | | | | 94 | |
| | | | |
| | 95 | | | U.S. Treasury Note | | | 2.75 | | | | 8/15/21 | | | | 97 | |
| | | | |
| | 45 | | | U.S. Treasury Note | | | 2.75 | | | | 4/30/23 | | | | 47 | |
| | | | |
| | 105 | | | U.S. Treasury Note | | | 2.88 | | | | 9/30/23 | | | | 110 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.88 | | | | 4/30/25 | | | | 95 | |
| | | | |
| | 110 | | | U.S. Treasury Note | | | 2.88 | | | | 11/30/23 | | | | 115 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 2.88 | | | | 10/31/20 | | | | 81 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.88 | | | | 11/15/21 | | | | 103 | |
| | | | |
| | 50 | | | U.S. Treasury Note | | | 2.88 | | | | 10/31/23 | | | | 52 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 2.88 | | | | 10/15/21 | | | | 103 | |
| | | | |
| | 140 | | | U.S. Treasury Note | | | 2.88 | | | | 5/15/28 | | | | 150 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.88 | | | | 5/31/25 | | | | 95 | |
| | | | |
| | 225 | | | U.S. Treasury Note | | | 2.88 | | | | 8/15/28 | | | | 243 | |
| | | | |
| | 90 | | | U.S. Treasury Note | | | 2.88 | | | | 11/30/25 | | | | 96 | |
See accompanying notes to financial statements.
211
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 75 | | | U.S. Treasury Note | | | 2.88 | | | | 7/31/25 | | | $ | 79 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 3.00 | | | | 10/31/25 | | | | 91 | |
| | | | |
| | 85 | | | U.S. Treasury Note | | | 3.00 | | | | 9/30/25 | | | | 91 | |
| | | | |
| | 115 | | | U.S. Treasury Note | | | 3.13 | | | | 11/15/28 | | | | 126 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 3.13 | | | | 5/15/21 | | | | 102 | |
| | | | |
| | 80 | | | U.S. Treasury Note | | | 3.50 | | | | 5/15/20 | | | | 81 | |
| | | | |
| | 100 | | | U.S. Treasury Note | | | 3.63 | | | | 2/15/21 | | | | 103 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | | | | 20,553 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Yankee Dollars — 5.74% | | | | | | | | | | | | |
| | | | |
| | 100 | | | America Movil SAB de CV (Wireless Telecommunication Services) | | | 5.00 | | | | 3/30/20 | | | | 102 | |
| | | | |
| | 85 | | | America Movil SAB de CV (Wireless Telecommunication Services) | | | 6.13 | | | | 11/15/37 | | | | 109 | |
| | | | |
| | 100 | | | Aptiv PLC (Auto Components), Callable 10/15/25 @ 100.00 | | | 4.25 | | | | 1/15/26 | | | | 105 | |
| | | | |
| | 45 | | | BHP Billiton Ltd. (Metals & Mining) | | | 5.00 | | | | 9/30/43 | | | | 56 | |
| | | | |
| | 185 | | | BP Capital Markets PLC (Diversified Financial Services) | | | 3.54 | | | | 11/4/24 | | | | 194 | |
| | | | |
| | 114 | | | British Telecommunications PLC (Diversified Telecommunication Services) | | | 9.63 | | | | 12/15/30 | | | | 172 | |
| | | | |
| | 155 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels),
Callable 12/15/22 @ 100.00 | | | 2.95 | | | | 1/15/23 | | | | 156 | |
| | | | |
| | 120 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels),
Callable 8/15/21 @ 100.00 | | | 3.45 | | | | 11/15/21 | | | | 123 | |
| | | | |
| | 50 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 3/1/27 @ 100.00 | | | 3.85 | | | | 6/1/27 | | | | 52 | |
| | | | |
| | 270 | | | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | | | 4.45 | | | | 3/15/23 | | | | 284 | |
| | | | |
| | 105 | | | Deutsche Telekom International Finance BV (Diversified Telecommunication Services) | | | 8.75 | (b) | | | 6/15/30 | | | | 150 | |
| | | | |
| | 90 | | | Diageo Capital PLC (Diversified Financial Services) | | | 5.88 | | | | 9/30/36 | | | | 118 | |
| | | | |
| | 210 | | | HSBC Holdings PLC (Banks) | | | 4.00 | | | | 3/30/22 | | | | 218 | |
| | | | |
| | 200 | | | HSBC Holdings PLC (Banks) | | | 5.10 | | | | 4/5/21 | | | | 209 | |
| | | | |
| | 140 | | | Iberdrola International BV (Electric Utilities) | | | 5.81 | | | | 3/15/25 | | | | 158 | |
| | | | |
| | 145 | | | Iberdrola International BV (Electric Utilities) | | | 6.75 | | | | 7/15/36 | | | | 190 | |
| | | | |
| | 40 | | | LYB International Finance II BV (Chemicals), Callable 12/2/26 @ 100.00 | | | 3.50 | | | | 3/2/27 | | | | 41 | |
| | | | |
| | 25 | | | LyondellBasell Industries N.V. (Chemicals) | | | 4.00 | | | | 7/15/23 | | | | 26 | |
| | | | |
| | 35 | | | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | | | 4.63 | | | | 2/26/55 | | | | 35 | |
| | | | |
| | 105 | | | Orange SA (Diversified Telecommunication Services) | | | 9.00 | | | | 3/1/31 | | | | 159 | |
| | | | |
| | 90 | | | Shell International Finance BV (Oil, Gas & Consumable Fuels) | | | 4.13 | | | | 5/11/35 | | | | 99 | |
| | | | |
| | 170 | | | Shell International Finance BV (Oil, Gas & Consumable Fuels) | | | 6.38 | | | | 12/15/38 | | | | 240 | |
| | | | |
| | 105 | | | Statoil ASA (Oil, Gas & Consumable Fuels) | | | 5.10 | | | | 8/17/40 | | | | 130 | |
| | | | |
| | 55 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 5.13 | | | | 4/27/20 | | | | 56 | |
| | | | |
| | 35 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 5.46 | | | | 2/16/21 | | | | 37 | |
| | | | |
| | 75 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 7.05 | | | | 6/20/36 | | | | 98 | |
| | | | |
| | 240 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels), Callable 2/15/28 @ 100.00 | | | 4.25 | | | | 5/15/28 | | | | 258 | |
| | | | |
| | 140 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | | | 6.10 | | | | 6/1/40 | | | | 174 | |
| | | | |
| | 20 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | | | 6.20 | | | | 10/15/37 | | | | 25 | |
| | | | |
| | 35 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 5.00 | | | | 5/30/38 | | | | 38 | |
| | | | |
| | 90 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 6.15 | | | | 2/27/37 | | | | 109 | |
| | | | | | | | | | | | | | | | |
| | | | Total Yankee Dollars | | | | | | | | | | | 3,921 | |
| | | | | | | | | | | | | | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Companies — 8.55% | | | | | | | | | | | | |
| | | | |
| | 293,875 | | | State Street Institutional Treasury Money Market Fund, Premier Class | | | 2.17 | (c) | | | | | | | 294 | |
| | | | |
| | 5,544,353 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (c) | | | | | | | 5,544 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Companies | | | | | | | | | | | 5,838 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $67,524) — 102.12% | | | | | | | | | | | 69,716 | |
| | | | Liabilities in excess of other assets — (2.12)% | | | | | | | | | | | (1,449 | ) |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 68,267 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
212
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — June 30, 2019
Amounts designated as “—” are $0 or have been rounded to $0.
| (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 disclosed is the rate in effect on June 30, 2019. |
| (b) | Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate disclosed is the rate in effect on June 30, 2019. |
| (c) | The rate disclosed is the rate in effect on June 30, 2019. |
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 as of June 30, 2019.
| | | | | | | | | | | | | | | | |
The Core Fixed Income Portfolio | | Agincourt Capital
Management,
LLC | | | Mellon
Investments
Corporation* | | | HC Capital
Solutions | | | Total | |
Asset Backed Securities | | | — | | | | 0.35 | % | | | — | | | | 0.35 | % |
Collateralized Mortgage Obligations | | | — | | | | 1.44 | % | | | — | | | | 1.44 | % |
U.S. Government Agency Mortgages | | | — | | | | 21.27 | % | | | — | | | | 21.27 | % |
U.S. Government Agency Securities | | | — | | | | 0.95 | % | | | — | | | | 0.95 | % |
Corporate Bonds | | | 33.71 | % | | | — | | | | — | | | | 33.71 | % |
U.S. Treasury Obligations | | | — | | | | 30.11 | % | | | — | | | | 30.11 | % |
Yankee Dollars | | | 5.74 | % | | | — | | | | — | | | | 5.74 | % |
Investment Companies | | | 0.43 | % | | | 2.96 | % | | | 5.16 | % | | | 8.55 | % |
Other Assets (Liabilities) | | | 0.40 | % | | | -2.68 | % | | | 0.16 | % | | | -2.12 | % |
| | | | | | | | | | | | | | | | |
Total Net Assets | | | 40.28 | % | | | 54.40 | % | | | 5.32 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
213
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Asset Backed Securities — 1.45% | | | | | | | | | | | | |
| | | | |
| $ | 1,349 | | | Dividend Solar Loans LLC, Series2017-1, Class – B, Callable 8/20/30 @ 100.00 (a) | | | 5.25 | | | | 3/22/38 | | | $ | 1,402 | |
| | | | |
| | 2,140 | | | Legacy Mortgage Asset Trust, Series2019-GS2, Class – A2,
Callable 4/25/22 @ 100.00 (a) | | | 4.25(b) | | | | 1/25/59 | | | | 2,083 | |
| | | | |
| | 2,120 | | | Mill City Mortgage Trust, Series2017-3, Class – B2, Callable 7/25/32 @ 100.00 (a) | | | 3.25(b) | | | | 1/25/61 | | | | 1,811 | |
| | | | |
| | 1,537 | | | Mill City Mortgage Trust, Series2017-1, Class – B2, Callable 3/25/33 @ 100.00 (a) | | | 3.77(b) | | | | 11/25/58 | | | | 1,402 | |
| | | | |
| | 721 | | | Mill City Mortgage Trust, Series2016-1, Class – B2, Callable 9/25/32 @ 100.00 (a) | | | 4.02(b) | | | | 4/25/57 | | | | 731 | |
| | | | |
| | 1,214 | | | Upgrade Receivables Trust, Series2019-1, Class – C, Callable 1/15/22 @ 100.00 (a) | | | 5.15 | | | | 3/15/25 | | | | 1,239 | |
| | | | | | | | | | | | | | | | |
| | | | Total Asset Backed Securities | | | | | | | | | | | 8,668 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Collateralized Mortgage Obligations — 17.39% | | | | | | | | | | | | |
| | | | |
| | 5,213 | | | Bank of America Merrill Lynch Large, Series 2016-GG10, Class – AJA (a) | | | 6.01(b) | | | | 8/10/45 | | | | 3,667 | |
| | | | |
| | 2,000 | | | BX Commercial Mortgage Trust, Series2019-IMC, Class – F (a) | |
| 5.34 (US0001M +
290.00 bps)(c) |
| | | 4/15/34 | | | | 2,008 | |
| | | | |
| | 1,184 | | | Citigroup Mortgage Loan Trust, Inc., Series2005-5, Class – 1A4,
Callable 7/25/19 @ 100.00 | | | 4.43(b) | | | | 8/25/35 | | | | 1,057 | |
| | | | |
| | 1,403 | | | Connecticut Avenue Securities, Series2016-C03, Class – 1B,
Callable 4/25/26 @ 100.00 (a) | |
| 14.15 (US0001M +
1175.00 bps)(c) |
| | | 10/25/28 | | | | 2,005 | |
| | | | |
| | 6,318 | | | Connecticut Avenue Securities, Series2016-C02, Class – 1B,
Callable 3/25/26 @ 100.00 (a) | |
| 14.65 (US0001M +
1225.00 bps)(c) |
| | | 9/25/28 | | | | 9,094 | |
| | | | |
| | 1,775 | | | Countrywide Home Loans Mortgage Pass-Through Trust, Series2007-1, Class – A2,
Callable 7/25/19 @ 100.00 | | | 6.00 | | | | 3/25/37 | | | | 1,406 | |
| | | | |
| | 1,492 | | | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class – B1,
Callable 3/25/44 @ 100.00 (a) | | | 3.09(b) | | | | 7/25/57 | | | | 1,079 | |
| | | | |
| | 1,712 | | | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class – B2,
Callable 3/25/44 @ 100.00 (a) | | | 3.09(b) | | | | 7/25/57 | | | | 1,023 | |
| | | | |
| | 1,455 | | | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class – B3,
Callable 3/25/44 @ 100.00 (a) | | | 3.09(b) | | | | 7/25/57 | | | | 681 | |
| | | | |
| | 1,670 | | | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class – B4,
Callable 3/25/44 @ 100.00 (a) | | | 3.09(b) | | | | 7/25/57 | | | | 239 | |
| | | | |
| | 1,587 | | | Credit Suisse Mortgage Trust, Series2007-C5, Class – AM | | | 5.87 | | | | 9/15/40 | | | | 1,315 | |
| | | | |
| | 1,500 | | | Credit Suisse Mortgage Trust, Series 2019-SLKZ, Class – D (a) | |
| 5.99 (US0001M +
360.00 bps)(c) |
| | | 1/15/34 | | | | 1,508 | |
| | | | |
| | 5,000 | | | Credit Suisse Mortgage Trust, Series 2018-PLUM, Class – B (a) | |
| 7.39 (US0001M +
500.00 bps)(c) |
| | | 8/15/20 | | | | 5,005 | |
| | | | |
| | 3,880 | | | Credit Suisse Mortgage Trust, Series 2015-LHMZ, Class – MZ (a) | | | 7.49(b) | | | | 7/6/20 | | | | 3,891 | |
| | | | |
| | 1,500 | | | Credit Suisse Mortgage Trust, Series 2017-CHOP, Class – H (a) | |
| 10.01 (US0001M +
762.00 bps)(c) |
| | | 7/15/32 | | | | 1,497 | |
| | | | |
| | 3,000 | | | CSWF, Series2018-TOP, Class – G (a) | |
| 5.64 (US0001M +
325.00 bps)(c) |
| | | 8/15/35 | | | | 3,004 | |
| | | | |
| | 2,100 | | | DBUBS Mortgage Trust, Series 2011-LC3A, Class – G (a) | | | 3.75 | | | | 8/10/44 | | | | 1,486 | |
| | | | |
| | 2,121 | | | Downey Savings And Loan Association Mortgage Loan Trust,
Series2007-AR1, Class – 1A1B, Callable 3/19/29 @ 100.00 | |
| 2.53 (US0001M +
14.00 bps)(c) |
| | | 4/19/47 | | | | 1,864 | |
| | | | |
| | 4,619 | | | FRESB Mortgage Trust, Series 2018-SB48, Class – B, Callable 1/1/28 @ 100.00 (a) | |
| 3.68 (US0006M +
367.72 bps)(c) |
| | | 2/25/38 | | | | 3,621 | |
| | | | |
| | 2,260 | | | GE Commercial Mortgage Corp. Trust, Series2007-C1, Class – AJ | | | 5.68(b) | | | | 12/10/49 | | | | 686 | |
| | | | |
| | 4,850 | | | GS Mortgage Securities Corp. II, Series 2018-SRP5, Class – D (a) | |
| 8.39 (US0001M +
600.00 bps)(c) |
| | | 9/15/31 | | | | 4,824 | |
| | | | |
| | 1,466 | | | Helios Issuer LLC, Series2018-1A, Class – B, Callable 1/20/24 @ 100.00 (a) | | | 7.71 | | | | 7/20/48 | | | | 1,529 | |
| | | | |
| | 2,497 | | | JPMorgan Chase Commercial Mortgage Securities Corp.,
Series 2007-CB19, Class – AJ | | | 6.00(b) | | | | 2/12/49 | | | | 1,685 | |
| | | | |
| | 2,000 | | | JPMorgan Chase Commercial Mortgage Securities Trust,
Series 2018-PHMZ, Class – M (a) | |
| 10.60 (US0001M +
820.77 bps)(c) |
| | | 6/15/35 | | | | 1,992 | |
| | | | |
| | 853 | | | Lone Star Portfolio Trust, Series2015-LSP, Class – E (a) | |
| 8.24 (US0001M +
560.00 bps)(c) |
| | | 9/15/28 | | | | 862 | |
| | | | |
| | 4,010 | | | Lone Star Portfolio Trust, Series2015-LSP, Class – F (a) | |
| 9.54 (US0001M +
690.00 bps)(c) |
| | | 9/15/28 | | | | 4,044 | |
See accompanying notes to financial statements.
214
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Collateralized Mortgage Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 840 | | | MASTR Adjustable Rate Mortgages Trust, Series2004-11, Class – B1,
Callable 7/25/19 @ 100.00 | |
| 4.15 (US0001M +
175.00 bps)(c) |
| | | 11/25/34 | | | $ | 843 | |
| | | | |
| | 1,430 | | | MASTR Adjustable Rate Mortgages Trust, Series2004-14, Class – B1,
Callable 7/25/19 @ 100.00 | |
| 4.55 (US0001M +
215.00 bps)(c) |
| | | 1/25/35 | | | | 1,370 | |
| | | | |
| | 1,782 | | | Multifamily Trust, Series2016-1, Class – B (a) | |
| 14.74 (US0003M +
113.00 bps)(c) |
| | | 4/25/46 | | | | 1,803 | |
| | | | |
| | 2,507 | | | PMT Credit Risk Transfer Trust, Series2019-1R, Class – A,
Callable 3/25/20 @ 100.00 (a) | |
| 4.43 (US0001M +
200.00 bps)(c) |
| | | 3/27/24 | | | | 2,498 | |
| | | | |
| | 1,750 | | | PMT Credit Risk Transfer Trust, Series2019-2R, Class – A,
Callable 5/27/23 @ 100.00 (a) | |
| 5.16 (US0001M +
275.00 bps)(c) |
| | | 5/27/23 | | | | 1,753 | |
| | | | |
| | 2,000 | | | Starwood Retail Property Trust, Series 2014-STAR, Class – D (a) | |
| 5.64 (US0001M +
325.00 bps)(c) |
| | | 11/15/27 | | | | 1,797 | |
| | | | |
| | 6,970 | | | Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class – B,
Callable 10/25/25 @ 100.00 | |
| 11.75 (US0001M +
935.00 bps)(c) |
| | | 4/25/28 | | | | 9,123 | |
| | | | |
| | 4,473 | | | Structured Agency Credit Risk Debt Notes, Series 2016-DNA1, Class – B,
Callable 1/25/26 @ 100.00 | |
| 12.40 (US0001M +
1000.00 bps)(c) |
| | | 7/25/28 | | | | 5,964 | |
| | | | |
| | 2,430 | | | Tharaldson Hotel Portfolio Trust, Series2018-THL, Class – G (a) | |
| 8.77 (US0001M +
635.00 bps)(c) |
| | | 11/11/34 | | | | 2,430 | |
| | | | |
| | 1,620 | | | Tharaldson Hotel Portfolio Trust, Series2018-THL, Class – H (a) | |
| 12.22 (US0001M +
980.00 bps)(c) |
| | | 11/11/34 | | | | 1,620 | |
| | | | |
| | 4,726 | | | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class – G (a) | | | 5.00(b) | | | | 5/10/63 | | | | 3,688 | |
| | | | |
| | 8,192 | | | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class – H (a)(d) | | | 5.00(b) | | | | 5/10/63 | | | | 5,000 | |
| | | | |
| | 4,228 | | | Upgrade Pass-Through Trust, Series2018-7, Class – A (a) | | | 14.78 | | | | 1/15/25 | | | | 4,062 | |
| | | | |
| | 990 | | | Wachovia Bank Commercial Mortgage Trust, Series2007-C33, Class – AJ | | | 5.84(b) | | | | 2/15/51 | | | | 947 | |
| | | | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | | | | 103,970 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | U.S. Government Agency Mortgages — 5.75% | | | | | | | | | | | | |
| | | | |
| | 1,140 | | | Fannie Mae, Series2017-C05, Class – 1B1, Callable 7/25/27 @ 100.00 (a) | |
| 6.00 (US0001M +
360.00 bps)(c) |
| | | 1/25/30 | | | | 1,194 | |
| | | | |
| | 5,550 | | | Fannie Mae, Series2017-C07, Class – 1B1, Callable 11/25/27 @ 100.00 (a) | |
| 6.40 (US0001M +
400.00 bps)(c) |
| | | 5/25/30 | | | | 5,913 | |
| | | | |
| | 3,190 | | | Fannie Mae, Series2018-R07, Class – 1B1, Callable 7/25/28 @ 100.00 (a) | |
| 6.75 (US0001M +
435.00 bps)(c) |
| | | 4/25/31 | | | | 3,399 | |
| | | | |
| | 530 | | | Fannie Mae, Series2017-C03, Class – 1B1, Callable 4/25/27 @ 100.00 (a) | |
| 7.25 (US0001M +
485.00 bps)(c) |
| | | 10/25/29 | | | | 600 | |
| | | | |
| | 1,498 | | | Fannie Mae, Series2016-C06, Class – 1B, Callable 10/25/26 @ 100.00 (a) | |
| 11.65 (US0001M +
925.00 bps)(c) |
| | | 4/25/29 | | | | 1,916 | |
| | | | |
| | 3,494 | | | Fannie Mae, Series2016-C04, Class – 1B, Callable 7/25/26 @ 100.00 (a) | |
| 12.65 (US0001M +
1025.00 bps)(c) |
| | | 1/25/29 | | | | 4,675 | |
| | | | |
| | 338 | | | Fannie Mae, Series2016-C01, Class – 1B, Callable 2/25/26 @ 100.00 (a) | |
| 14.15 (US0001M +
1175.00 bps)(c) |
| | | 8/25/28 | | | | 490 | |
| | | | |
| | 143,606 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2016-1, Class – XSIO,
Callable 10/25/47 @ 100.00 (e) | | | 0.07(b) | | | | 9/25/55 | | | | 505 | |
| | | | |
| | 19,204 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2016-1, Class – BIO,
Callable 10/25/47 @ 100.00 (e) | | | 1.24(b) | | | | 9/25/55 | | | | 1,740 | |
| | | | |
| | 1,220 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2017-2, Class – M1,
Callable 9/25/43 @ 100.00 (a) | | | 4.00(b) | | | | 8/25/56 | | | | 1,195 | |
| | | | |
| | 1,850 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2019-1, Class – M,
Callable 6/25/39 @ 100.00 (a) | | | 4.75(b) | | | | 7/25/58 | | | | 1,683 | |
| | | | |
| | 8,086 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2016-1, Class – B,
Callable 10/25/47 @ 100.00 (e) | | | 6.87 | | | | 9/25/55 | | | | 675 | |
| | | | |
| | 5,906 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2017-2, Class – B,
Callable 9/25/43 @ 100.00 (e) | | | 0.00(b) | | | | 8/25/56 | | | | 1,013 | |
| | | | |
| | 250,523 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2017-2, Class – XSIO,
Callable 9/25/43 @ 100.00 (e) | | | 0.07(b) | | | | 8/25/56 | | | | 1,008 | |
See accompanying notes to financial statements.
215
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 8,912 | | | Freddie Mac, Seasoned Credit Risk Transfer Trust, Series2017-2, Class – BIO,
Callable 9/25/43 @ 100.00 (e) | | | 1.21(b) | | | | 8/25/56 | | | $ | 1,393 | |
| | | | |
| | 2,650 | | | Freddie Mac, Series 2018-SPI4, Class – B, Callable 9/25/26 @ 100.00 (a) | | | 4.46(b) | | | | 11/25/48 | | | | 1,464 | |
| | | | |
| | 529 | | | Freddie Mac, Series 2017-DNA1, Class – B2, Callable 1/25/27 @ 100.00 | |
| 12.40 (US0001M +
1000.00 bps)(c) |
| | | 7/25/29 | | | | 573 | |
| | | | |
| | 1,090 | | | Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2017-DNA2, Class – B1, Callable 4/25/27 @ 100.00 | |
| 7.55 (US0001M +
515.00 bps)(c) |
| | | 10/25/29 | | | | 1,250 | |
| | | | |
| | 3,063 | | | Freddie Mac Structured Agency Credit Risk Debt Notes,
Series 2017-DNA2, Class – B2, Callable 4/25/27 @ 100.00 | |
| 13.65 (US0001M +
1125.00 bps)(c) |
| | | 10/25/29 | | | | 3,747 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Mortgages | | | | | | | | | | | 34,433 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Corporate Bonds — 48.72% | | | | | | | | | | | | |
| | | | |
| | 1,175 | | | Acadia Healthcare Co., Inc. (Health Care Providers & Services),
Callable 8/5/19 @ 101.28 | | | 5.13 | | | | 7/1/22 | | | | 1,185 | |
| | | | |
| | 1,003 | | | Acadia Healthcare Co., Inc. (Health Care Providers & Services),
Callable 8/5/19 @ 102.81 | | | 5.63 | | | | 2/15/23 | | | | 1,019 | |
| | | | |
| | 1,462 | | | ACCO Brands Corp. (Commercial Services & Supplies),
Callable 12/15/19 @ 103.94 (a) | | | 5.25 | | | | 12/15/24 | | | | 1,477 | |
| | | | |
| | 1,735 | | | Adient US LLC (Auto Components), Callable 5/15/22 @ 103.50 (a) | | | 7.00 | | | | 5/15/26 | | | | 1,781 | |
| | | | |
| | 1,161 | | | Ahern Rentals, Inc. (Trading Companies & Distributors),
Callable 8/5/19 @ 103.69 (a) | | | 7.38 | | | | 5/15/23 | | | | 1,036 | |
| | | | |
| | 2,335 | | | Albertsons Companies LLC (Food & Staples Retailing), Callable 9/15/19 @ 104.31 | | | 5.75 | | | | 3/15/25 | | | | 2,350 | |
| | | | |
| | 426 | | | Albertsons Companies LLC (Food & Staples Retailing), Callable 8/5/19 @ 104.97 | | | 6.63 | | | | 6/15/24 | | | | 441 | |
| | | | |
| | 857 | | | Albertsons Companies LLC (Food & Staples Retailing),
Callable 3/15/22 @ 105.63 (a) | | | 7.50 | | | | 3/15/26 | | | | 915 | |
| | | | |
| | 1,073 | | | Allison Transmission, Inc. (Machinery), Callable 10/1/19 @ 102.50 (a) | | | 5.00 | | | | 10/1/24 | | | | 1,094 | |
| | | | |
| | 111 | | | Ally Financial, Inc. (Consumer Finance), Callable 10/21/25 @ 100.00 | | | 5.75 | | | | 11/20/25 | | | | 123 | |
| | | | |
| | 1,729 | | | Ally Financial, Inc. (Consumer Finance) | | | 8.00 | | | | 11/1/31 | | | | 2,274 | |
| | | | |
| | 509 | | | AMC Networks, Inc. (Media), Callable 8/1/21 @ 102.38 | | | 4.75 | | | | 8/1/25 | | | | 517 | |
| | | | |
| | 760 | | | AMC Networks, Inc. (Media), Callable 4/1/20 @ 102.50 | | | 5.00 | | | | 4/1/24 | | | | 781 | |
| | | | |
| | 1,372 | | | American Builders & Contractors Supply Co., Inc.
(Trading Companies & Distributors), Callable 5/15/21 @ 102.94 (a) | | | 5.88 | | | | 5/15/26 | | | | 1,430 | |
| | | | |
| | 758 | | | AMN Healthcare, Inc. (Health Care Providers & Services),
Callable 10/1/19 @ 103.84 (a) | | | 5.13 | | | | 10/1/24 | | | | 771 | |
| | | | |
| | 1,487 | | | Amsted Industries, Inc. (Machinery), Callable 9/15/19 @ 102.69 (a) | | | 5.38 | | | | 9/15/24 | | | | 1,521 | |
| | | | |
| | 1,383 | | | Amsted Industries, Inc. (Machinery), Callable 7/1/22 @ 102.81 (a) | | | 5.63 | | | | 7/1/27 | | | | 1,438 | |
| | | | |
| | 2,815 | | | Ascent Resources Utica Holdings LLC/ARU Finance Corp.
(Oil, Gas & Consumable Fuels), Callable 11/1/21 @ 103.50 (a) | | | 7.00 | | | | 11/1/26 | | | | 2,569 | |
| | | | |
| | 389 | | | Avis Budget Car Rental LLC (Road & Rail), Callable 8/5/19 @ 101.83 | | | 5.50 | | | | 4/1/23 | | | | 397 | |
| | | | |
| | 1,070 | | | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (Road & Rail),
Callable 6/15/22 @ 102.88 (a) | | | 5.75 | | | | 7/15/27 | | | | 1,079 | |
| | | | |
| | 658 | | | Ball Corp. (Containers & Packaging), Callable 12/15/25 @ 100.00 | | | 4.88 | | | | 3/15/26 | | | | 697 | |
| | | | |
| | 1,776 | | | Bank of America Corp. (Banks), Callable 3/17/25 @ 100.00, Perpetual Bond (f) | |
| 6.10 (US0003M +
389.80 bps)(c) |
| | | 12/29/49 | | | | 1,918 | |
| | | | |
| | 1,558 | | | Bausch Health Americas, Inc. (Pharmaceuticals), Callable 7/31/22 @ 104.25 (a) | | | 8.50 | | | | 1/31/27 | | | | 1,710 | |
| | | | |
| | 1,666 | | | Beacon Escrow Corp. (Trading Companies & Distributors),
Callable 11/1/20 @ 102.44 (a) | | | 4.88 | | | | 11/1/25 | | | | 1,649 | |
| | | | |
| | 503 | | | Block Communications, Inc. (Media), Callable 2/15/20 @ 103.44 (a) | | | 6.88 | | | | 2/15/25 | | | | 524 | |
| | | | |
| | 1,615 | | | Blue Racer Midstream LLC/Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels), Callable 8/5/19 @ 103.06 (a) | | | 6.13 | | | | 11/15/22 | | | | 1,637 | |
| | | | |
| | 2,639 | | | Blue Racer Midstream LLC/Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels), Callable 7/15/21 @ 104.97 (a) | | | 6.63 | | | | 7/15/26 | | | | 2,659 | |
| | | | |
| | 733 | | | Booz Allen Hamilton, Inc. (IT Services), Callable 5/1/20 @ 102.56 (a) | | | 5.13 | | | | 5/1/25 | | | | 744 | |
| | | | |
| | 901 | | | Brinker International, Inc. (Hotels, Restaurants & Leisure) | | | 3.88 | | | | 5/15/23 | | | | 891 | |
| | | | |
| | 1,110 | | | Brinker International, Inc. (Hotels, Restaurants & Leisure),
Callable 7/1/24 @ 100.00 (a) | | | 5.00 | | | | 10/1/24 | | | | 1,131 | |
See accompanying notes to financial statements.
216
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 897 | | | Brookfield Property REIT (Equity Real Estate Investment Trusts),
Callable 5/15/22 @ 102.88 (a) | | | 5.75 | | | | 5/15/26 | | | $ | 924 | |
| | | | |
| | 2,148 | | | Building Materials Corp. of America (Building Products),
Callable 11/15/19 @ 102.69 (a) | | | 5.38 | | | | 11/15/24 | | | | 2,223 | |
| | | | |
| | 668 | | | Building Materials Corp. of America (Building Products),
Callable 10/15/20 @ 103.00 (a) | | | 6.00 | | | | 10/15/25 | | | | 709 | |
| | | | |
| | 1,597 | | | Cablevision Systems Corp. (Media) | | | 5.88 | | | | 9/15/22 | | | | 1,687 | |
| | | | |
| | 3,054 | | | Calpine Corp. (Independent Power and Renewable Electricity Producers),
Callable 6/1/21 @ 102.63 (a) | | | 5.25 | | | | 6/1/26 | | | | 3,108 | |
| | | | |
| | 928 | | | Cardtronics, Inc. (IT Services), Callable 5/1/20 @ 104.13 (a) | | | 5.50 | | | | 5/1/25 | | | | 922 | |
| | | | |
| | 1,861 | | | Care Capital Properties WI (Equity Real Estate Investment Trusts), Callable 5/15/26 @ 100.00 | | | 5.13 | | | | 8/15/26 | | | | 1,937 | |
| | | | |
| | 1,837 | | | Carriage Services, Inc. (Diversified Consumer Services), Callable 6/1/21 @ 104.97 (a) | | | 6.63 | | | | 6/1/26 | | | | 1,887 | |
| | | | |
| | 1,071 | | | Carrizo Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 8/5/19 @ 103.13 ^ | | | 6.25 | | | | 4/15/23 | | | | 1,032 | |
| | | | |
| | 1,281 | | | CCO Holdings LLC/CCO Holdings Capital Corp. (Media),
Callable 5/1/22 @ 102.56 (a) | | | 5.13 | | | | 5/1/27 | | | | 1,326 | |
| | | | |
| | 1,718 | | | CCO Holdings LLC/CCO Holdings Capital Corp. (Media),
Callable 6/1/24 @ 102.69 (a) | | | 5.38 | | | | 6/1/29 | | | | 1,772 | |
| | | | |
| | 697 | | | CCO Holdings LLC/CCO Holdings Capital Corp. (Media),
Callable 5/1/20 @ 102.68 (a) | | | 5.38 | | | | 5/1/25 | | | | 721 | |
| | | | |
| | 1,010 | | | CCO Holdings LLC/CCO Holdings Capital Corp. (Media),
Callable 2/15/21 @ 102.88 | | | 5.75 | | | | 2/15/26 | | | | 1,061 | |
| | | | |
| | 1,113 | | | CDK Global, Inc. (Software), Callable 6/1/22 @ 102.44 | | | 4.88 | | | | 6/1/27 | | | | 1,149 | |
| | | | |
| | 588 | | | Cedar Fair LP (Hotels, Restaurants & Leisure), Callable 7/15/24 @ 102.63 (a) | | | 5.25 | | | | 7/15/29 | | | | 600 | |
| | | | |
| | 531 | | | Cedar Fair LP/Canada’s Wonderland Co. (Hotels, Restaurants & Leisure),
Callable 8/5/19 @ 102.69 | | | 5.38 | | | | 6/1/24 | | | | 546 | |
| | | | |
| | 964 | | | Central Garden & Pet Co. (Household Products), Callable 1/1/23 @ 102.56 | | | 5.13 | | | | 2/1/28 | | | | 945 | |
| | | | |
| | 1,119 | | | CenturyLink, Inc. (Diversified Telecommunication Services),
Callable 1/1/25 @ 100.00 | | | 5.63 | | | | 4/1/25 | | | | 1,139 | |
| | | | |
| | 1,443 | | | CenturyLink, Inc., Series T (Diversified Telecommunication Services) | | | 5.80 | | | | 3/15/22 | | | | 1,507 | |
| | | | |
| | 1,079 | | | CenturyLink, Inc., Series G (Diversified Telecommunication Services) | | | 6.88 | | | | 1/15/28 | | | | 1,076 | |
| | | | |
| | 1,806 | | | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels),
Callable 8/5/19 @ 101.22 ^ | | | 4.88 | | | | 4/15/22 | | | | 1,707 | |
| | | | |
| | 1,513 | | | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels) | | | 5.75 | | | | 3/15/23 | | | | 1,396 | |
| | | | |
| | 406 | | | Chesapeake Energy Corp. (Oil, Gas & Consumable Fuels),
Callable 4/1/21 @ 103.50 | | | 7.00 | | | | 10/1/24 | | | | 363 | |
| | | | |
| | 1,133 | | | CHS/Community Health Systems, Inc. (Health Care Providers & Services),
Callable 3/31/20 @ 103.13 | | | 6.25 | | | | 3/31/23 | | | | 1,091 | |
| | | | |
| | 2,130 | | | Churchill Downs, Inc. (Hotels, Restaurants & Leisure),
Callable 1/15/23 @ 102.38 (a) | | | 4.75 | | | | 1/15/28 | | | | 2,138 | |
| | | | |
| | 275 | | | Clean Harbors, Inc. (Commercial Services & Supplies),
Callable 7/15/22 @ 102.44 (a) | | | 4.88 | | | | 7/15/27 | | | | 279 | |
| | | | |
| | 890 | | | Clearway Energy Operating LLC (Independent Power and Renewable Electricity Producers), Callable 9/15/21 @ 102.50 | | | 5.00 | | | | 9/15/26 | | | | 866 | |
| | | | |
| | 577 | | | Clearway Energy Operating LLC (Independent Power and Renewable Electricity Producers), Callable 10/15/21 @ 102.88 (a) | | | 5.75 | | | | 10/15/25 | | | | 589 | |
| | | | |
| | 446 | | | Commercial Metals Co. (Metals & Mining), Callable 2/15/23 @ 100.00 | | | 4.88 | | | | 5/15/23 | | | | 447 | |
| | | | |
| | 1,121 | | | Commercial Metals Co. (Metals & Mining), Callable 4/15/21 @ 102.88 | | | 5.75 | | | | 4/15/26 | | | | 1,120 | |
| | | | |
| | 1,268 | | | CommScope Technologies LLC (Communications Equipment),
Callable 3/15/22 @ 102.50 | | | 5.00 | | | | 3/15/27 | | | | 1,103 | |
| | | | |
| | 1,208 | | | CommScope, Inc. (Communications Equipment), Callable 7/16/19 @ 102.75 (a) | | | 5.50 | | | | 6/15/24 | | | | 1,143 | |
| | | | |
| | 345 | | | CommScope, Inc. (Communications Equipment), Callable 3/1/21 @ 102.75 (a) | | | 5.50 | | | | 3/1/24 | | | | 354 | |
| | | | |
| | 814 | | | CoreCivic, Inc. (Equity Real Estate Investment Trusts), Callable 7/15/27 @ 100.00 | | | 4.75 | | | | 10/15/27 | | | | 733 | |
| | | | |
| | 1,756 | | | Corrections Corp. of America (Equity Real Estate Investment Trusts),
Callable 2/1/23 @ 100.00 | | | 4.63 | | | | 5/1/23 | | | | 1,721 | |
| | | | |
| | 3,118 | | | Corrections Corp. of America (Equity Real Estate Investment Trusts),
Callable 7/15/22 @ 100.00 | | | 5.00 | | | | 10/15/22 | | | | 3,090 | |
| | | | |
| | 1,196 | | | Credit Acceptance Corp. (Consumer Finance), Callable 3/15/22 @ 103.31 (a) | | | 6.63 | | | | 3/15/26 | | | | 1,260 | |
See accompanying notes to financial statements.
217
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 555 | | | Credit Acceptance Corp. (Consumer Finance), Callable 8/5/19 @ 103.69 | | | 7.38 | | | | 3/15/23 | | | $ | 575 | |
| | | | |
| | 573 | | | Crown Americas LLC/Crown Americas Capital Corp VI (Containers & Packaging),
Callable 2/1/21 @ 103.56 | | | 4.75 | | | | 2/1/26 | | | | 589 | |
| | | | |
| | 1,129 | | | CSC Holdings LLC (Media) | | | 5.25 | | | | 6/1/24 | | | | 1,173 | |
| | | | |
| | 1,141 | | | CSC Holdings LLC (Media), Callable 5/15/21 @ 102.75 | | | 5.50 | | | | 5/15/26 | | | | 1,197 | |
| | | | |
| | 1,237 | | | CSC Holdings LLC (Media), Callable 2/1/24 @ 103.25 (a) | | | 6.50 | | | | 2/1/29 | | | | 1,347 | |
| | | | |
| | 2,863 | | | CSC Holdings LLC (Media), Callable 7/15/20 @ 103.88 (a) | | | 7.75 | | | | 7/15/25 | | | | 3,084 | |
| | | | |
| | 329 | | | Cumberland Farms, Inc. (Food & Staples Retailing), Callable 5/1/20 @ 105.06 (a) | | | 6.75 | | | | 5/1/25 | | | | 349 | |
| | | | |
| | 1,103 | | | CVR Partners/CVR Nitrogen (Chemicals), Callable 7/22/19 @ 104.63 (a) | | | 9.25 | | | | 6/15/23 | | | | 1,150 | |
| | | | |
| | 267 | | | CyrusOne LP/CyrusOne Finance Corp. (Equity Real Estate Investment Trusts),
Callable 3/15/22 @ 102.69 | | | 5.38 | | | | 3/15/27 | | | | 281 | |
| | | | |
| | 1,528 | | | DaVita, Inc. (Health Care Providers & Services), Callable 7/22/19 @ 102.56 | | | 5.13 | | | | 7/15/24 | | | | 1,528 | |
| | | | |
| | 1,208 | | | Delek Logistics Partners LP/Delek Logistics Finance Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/20 @ 105.06 | | | 6.75 | | | | 5/15/25 | | | | 1,199 | |
| | | | |
| | 4,755 | | | DISH DBS Corp. (Media) | | | 5.88 | | | | 7/15/22 | | | | 4,813 | |
| | | | |
| | 1,583 | | | DISH DBS Corp. (Media) | | | 6.75 | | | | 6/1/21 | | | | 1,658 | |
| | | | |
| | 787 | | | Downstream Development Authority of the Quapaw Tribe of Oklahoma
(Capital Markets), Callable 2/15/20 @ 105.25 (a) | | | 10.50 | | | | 2/15/23 | | | | 829 | |
| | | | |
| | 1,419 | | | EMC Corp. (Technology Hardware, Storage & Peripherals), Callable 3/1/23 @ 100.00 | | | 3.38 | | | | 6/1/23 | | | | 1,413 | |
| | | | |
| | 218 | | | Endeavor Energy Resources LP/Endeavor Energy Resources Finance, Inc.
(Oil, Gas & Consumable Fuels), Callable 1/30/23 @ 102.88 (a) | | | 5.75 | | | | 1/30/28 | | | | 230 | |
| | | | |
| | 1,062 | | | ESH Hospitality, Inc. (Hotels, Restaurants & Leisure), Callable 5/1/20 @ 102.63 (a) | | | 5.25 | | | | 5/1/25 | | | | 1,087 | |
| | | | |
| | 977 | | | Extraction Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 2/1/21 @ 104.22 | | | 5.63 | | | | 2/1/26 | | | | 789 | |
| | | | |
| | 1,602 | | | Fortress Transportation & Infrastructure Investors LLC
(Trading Companies & Distributors), Callable 3/15/20 @ 105.06 (a) | | | 6.75 | | | | 3/15/22 | | | | 1,664 | |
| | | | |
| | 1,868 | | | Freeport-McMoRan, Inc. (Metals & Mining), Callable 12/15/22 @ 100.00 | | | 3.88 | | | | 3/15/23 | | | | 1,867 | |
| | | | |
| | 1,860 | | | FTS International, Inc. (Energy Equipment & Services), Callable 8/5/19 @ 101.56 | | | 6.25 | | | | 5/1/22 | | | | 1,730 | |
| | | | |
| | 1,690 | | | Genesis Energy LP (Electric Utilities), Callable 8/5/19 @ 102.81 | | | 5.63 | | | | 6/15/24 | | | | 1,629 | |
| | | | |
| | 2,456 | | | Genesis Energy LP (Electric Utilities), Callable 8/5/19 @ 103.00 | | | 6.00 | | | | 5/15/23 | | | | 2,438 | |
| | | | |
| | 699 | | | Genesis Energy LP (Electric Utilities), Callable 2/15/21 @ 104.69 | | | 6.25 | | | | 5/15/26 | | | | 673 | |
| | | | |
| | 1,030 | | | GLP Capital LP (Equity Real Estate Investment Trusts), Callable 1/15/26 @ 100.00 | | | 5.38 | | | | 4/15/26 | | | | 1,111 | |
| | | | |
| | 527 | | | GMAC, Inc. (Consumer Finance) | | | 8.00 | | | | 11/1/31 | | | | 696 | |
| | | | |
| | 1,742 | | | Goldman Sachs Group, Inc., Series P (Capital Markets),
Callable 11/10/22 @ 100.00, Perpetual Bond (f) | |
| 5.00 (US0003M +
287.40 bps)(c) |
| | | 12/31/49 | | | | 1,673 | |
| | | | |
| | 965 | | | Goodyear Tire & Rubber Co. (The) (Auto Components), Callable 8/5/19 @ 102.56 | | | 5.13 | | | | 11/15/23 | | | | 977 | |
| | | | |
| | 1,421 | | | Group 1 Automotive, Inc. (Specialty Retail), Callable 8/5/19 @ 103.94 (a) | | | 5.25 | | | | 12/15/23 | | | | 1,455 | |
| | | | |
| | 354 | | | GrubHub Holdings, Inc. (Internet & Direct Marketing Retail),
Callable 7/1/22 @ 102.75 (a) | | | 5.50 | | | | 7/1/27 | | | | 363 | |
| | | | |
| | 3,253 | | | Gulfport Energy Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/20 @ 104.78 | | | 6.38 | | | | 5/15/25 | | | | 2,493 | |
| | | | |
| | 836 | | | H&E Equipment Services, Inc. (Trading Companies & Distributors),
Callable 9/1/20 @ 104.22 | | | 5.63 | | | | 9/1/25 | | | | 859 | |
| | | | |
| | 1,054 | | | Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods), Callable 2/15/24 @ 100.00 (a) | | | 4.63 | | | | 5/15/24 | | | | 1,094 | |
| | | | |
| | 544 | | | Harland Clarke Holdings Corp. (Commercial Services & Supplies),
Callable 8/5/19 @ 100.00 (a) | | | 6.88 | | | | 3/1/20 | | | | 530 | |
| | | | |
| | 1,508 | | | HCA Holdings, Inc. (Health Care Providers & Services), Callable 8/15/25 @ 100.00 | | | 5.88 | | | | 2/15/26 | | | | 1,666 | |
| | | | |
| | 746 | | | HCA, Inc. (Health Care Providers & Services), Callable 3/1/26 @ 100.00 | | | 5.38 | | | | 9/1/26 | | | | 804 | |
| | | | |
| | 568 | | | HCA, Inc. (Health Care Providers & Services) | | | 5.38 | | | | 2/1/25 | | | | 613 | |
| | | | |
| | 528 | | | HCA, Inc. (Health Care Providers & Services), Callable 8/1/28 @ 100.00 | | | 5.88 | | | | 2/1/29 | | | | 579 | |
| | | | |
| | 754 | | | HealthSouth Corp. (Health Care Providers & Services), Callable 8/5/19 @ 101.92 | | | 5.75 | | | | 11/1/24 | | | | 768 | |
| | | | |
| | 1,016 | | | Hertz Corp. (Road & Rail), Callable 8/5/19 @ 103.81 | | | 7.63 | | | | 6/1/22 | | | | 1,055 | |
| | | | |
| | 690 | | | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 8/5/19 @ 102.50 (a) | | | 5.00 | | | | 12/1/24 | | | | 685 | |
| | | | |
| | 649 | | | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/1/20 @ 102.88 (a) | | | 5.75 | | | | 10/1/25 | | | | 651 | |
| | | | |
| | 994 | | | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/23 @ 103.13 (a) | | | 6.25 | | | | 11/1/28 | | | | 1,000 | |
| | | | |
| | 523 | | | Hilton Domestic Operating Co, Inc. (Hotels, Restaurants & Leisure),
Callable 5/1/21 @ 102.56 | | | 5.13 | | | | 5/1/26 | | | | 545 | |
See accompanying notes to financial statements.
218
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 1,922 | | | HLF Financing SaRL LLC/Herbalife International, Inc. (Personal Products),
Callable 8/15/21 @ 103.63 (a) | | | 7.25 | | | | 8/15/26 | | | $ | 1,932 | |
| | | | |
| | 1,719 | | | Horizon Pharma USA, Inc. (Pharmaceuticals), Callable 11/1/19 @ 106.56 (a) | | | 8.75 | | | | 11/1/24 | | | | 1,844 | |
| | | | |
| | 384 | | | IAA, Inc. (Commercial Services & Supplies), Callable 6/15/22 @ 102.75 (a) | | | 5.50 | | | | 6/15/27 | | | | 399 | |
| | | | |
| | 466 | | | Ingles Markets, Inc. (Food & Staples Retailing), Callable 8/5/19 @ 101.92 | | | 5.75 | | | | 6/15/23 | | | | 475 | |
| | | | |
| | 1,335 | | | Iron Mountain, Inc. (Equity Real Estate Investment Trusts),
Callable 6/1/21 @ 102.69 (a) | | | 5.38 | | | | 6/1/26 | | | | 1,338 | |
| | | | |
| | 1,793 | | | Iron Mountain, Inc. (Equity Real Estate Investment Trusts), Callable 7/16/19 @ 101.92 | | | 5.75 | | | | 8/15/24 | | | | 1,811 | |
| | | | |
| | 302 | | | J2 Cloud Services LLC/J2 GlobalCo-Obligor, Inc. (Software),
Callable 7/15/20 @ 104.50 (a) | | | 6.00 | | | | 7/15/25 | | | | 316 | |
| | | | |
| | 1,400 | | | JB Poindexter & Co., Inc. (Machinery), Callable 4/15/21 @ 105.34 (a) | | | 7.13 | | | | 4/15/26 | | | | 1,428 | |
| | | | |
| | 387 | | | JBS USA LLC/JBS USA Finance, Inc. (Food Products), Callable 8/5/19 @ 102.94 (a) | | | 5.88 | | | | 7/15/24 | | | | 398 | |
| | | | |
| | 1,734 | | | Lockheed Martin Corp. (Aerospace & Defense) (a) | |
| 9.61 (US0001M +
721.75 bps)(c) |
| | | 9/15/20 | | | | 1,744 | |
| | | | |
| | 186 | | | Louisiana-Pacific Corp. (Paper & Forest Products), Callable 9/15/19 @ 103.66 | | | 4.88 | | | | 9/15/24 | | | | 189 | |
| | | | |
| | 606 | | | M/I Homes, Inc. (Household Durables), Callable 7/22/19 @ 101.69 | | | 6.75 | | | | 1/15/21 | | | | 612 | |
| | | | |
| | 932 | | | Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp.
(Oil, Gas & Consumable Fuels), Callable 8/1/21 @ 103.00 (a) | | | 6.00 | | | | 8/1/26 | | | | 951 | |
| | | | |
| | 294 | | | Match Group, Inc. (Interactive Media & Services), Callable 12/15/22 @ 102.50 (a) | | | 5.00 | | | | 12/15/27 | | | | 308 | |
| | | | |
| | 2,557 | | | Mattel, Inc. (Leisure Products), Callable 12/31/20 @ 105.06 (a) | | | 6.75 | | | | 12/31/25 | | | | 2,631 | |
| | | | |
| | 2,263 | | | Mednax, Inc. (Health Care Providers & Services), Callable 8/5/19 @ 103.94 (a) | | | 5.25 | | | | 12/1/23 | | | | 2,229 | |
| | | | |
| | 800 | | | Mednax, Inc. (Health Care Providers & Services), Callable 1/15/22 @ 104.69 (a) | | | 6.25 | | | | 1/15/27 | | | | 787 | |
| | | | |
| | 1,396 | | | Meritage Homes Corp. (Household Durables), Callable 3/1/25 @ 100.00 | | | 6.00 | | | | 6/1/25 | | | | 1,501 | |
| | | | |
| | 1,433 | | | MetLife, Inc., Series C (Insurance), Callable 6/15/20 @ 100.00, Perpetual Bond (f) | |
| 5.25 (US0003M +
357.50 bps)(c) |
| | | 12/31/49 | | | | 1,447 | |
| | | | |
| | 1,985 | | | MGM Growth/MGM Finance (Equity Real Estate Investment Trusts),
Callable 2/1/24 @ 100.00 | | | 5.63 | | | | 5/1/24 | | | | 2,139 | |
| | | | |
| | 1,783 | | | MGM Resorts International (Hotels, Restaurants & Leisure) | | | 6.00 | | | | 3/15/23 | | | | 1,930 | |
| | | | |
| | 2,025 | | | Montage Resources Corp. (Oil, Gas & Consumable Fuels), Callable 8/5/19 @ 104.44 | | | 8.88 | | | | 7/15/23 | | | | 1,726 | |
| | | | |
| | 842 | | | MPT Operating Partnership LP/MPT Finance Corp.
(Equity Real Estate Investment Trusts), Callable 8/1/21 @ 102.63 | | | 5.25 | | | | 8/1/26 | | | | 880 | |
| | | | |
| | 1,349 | | | Murphy Oil USA, Inc. (Specialty Retail), Callable 5/1/22 @ 102.81 | | | 5.63 | | | | 5/1/27 | | | | 1,403 | |
| | | | |
| | 1,097 | | | Navient Corp. (Consumer Finance) | | | 5.50 | | | | 1/25/23 | | | | 1,127 | |
| | | | |
| | 2,529 | | | Navient Corp. (Consumer Finance) | | | 5.88 | | | | 10/25/24 | | | | 2,560 | |
| | | | |
| | 548 | | | Navient Corp. (Consumer Finance) | | | 6.50 | | | | 6/15/22 | | | | 581 | |
| | | | |
| | 622 | | | Netflix, Inc. (Entertainment) | | | 4.38 | | | | 11/15/26 | | | | 635 | |
| | | | |
| | 727 | | | Netflix, Inc. (Entertainment) | | | 4.88 | | | | 4/15/28 | | | | 752 | |
| | | | |
| | 2,581 | | | Netflix, Inc. (Entertainment) (a) | | | 5.38 | | | | 11/15/29 | | | | 2,742 | |
| | | | |
| | 1,506 | | | New Enterprise Stone & Lime Co., Inc. (Construction Materials),
Callable 3/15/21 @ 103.13 (a) | | | 6.25 | | | | 3/15/26 | | | | 1,525 | |
| | | | |
| | 866 | | | New Home Co., Inc. (The) (Household Durables), Callable 10/1/19 @ 103.63 | | | 7.25 | | | | 4/1/22 | | | | 814 | |
| | | | |
| | 1,091 | | | Nexstar Escrow Corp. (Media), Callable 8/1/19 @ 104.22 (a) | | | 5.63 | | | | 8/1/24 | | | | 1,129 | |
| | | | |
| | 479 | | | Nexstar Escrow, Inc. (Media), Callable 7/15/22 @ 104.22 (a) | | | 5.63 | | | | 7/15/27 | | | | 490 | |
| | | | |
| | 810 | | | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/19 @ 103.75 | | | 7.50 | | | | 11/1/23 | | | | 846 | |
| | | | |
| | 1,359 | | | NGPL PipeCo LLC (Oil, Gas & Consumable Fuels) (a) | | | 7.77 | | | | 12/15/37 | | | | 1,726 | |
| | | | |
| | 1,437 | | | Nielsen Finance LLC/Nielsen Finance Co. (Professional Services),
Callable 8/5/19 @ 101.25 (a) | | | 5.00 | | | | 4/15/22 | | | | 1,435 | |
| | | | |
| | 1,755 | | | Novelis Corp. (Metals & Mining), Callable 9/30/21 @ 102.94 (a) | | | 5.88 | | | | 9/30/26 | | | | 1,777 | |
| | | | |
| | 231 | | | Novelis Corp. (Metals & Mining), Callable 8/15/19 @ 104.69 (a) | | | 6.25 | | | | 8/15/24 | | | | 241 | |
| | | | |
| | 336 | | | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers),
Callable 1/15/23 @ 102.88 | | | 5.75 | | | | 1/15/28 | | | | 362 | |
| | | | |
| | 1,072 | | | NuStar Logistics LP (Oil, Gas & Consumable Fuels), Callable 3/1/26 @ 100.00 | | | 6.00 | | | | 6/1/26 | | | | 1,107 | |
| | | | |
| | 703 | | | Olin Corp. (Chemicals), Callable 2/1/24 @ 102.50 | | | 5.00 | | | | 2/1/30 | | | | 695 | |
| | | | |
| | 353 | | | Owens-Brockway Glass Container, Inc. (Containers & Packaging) | | | 5.88 | | | | 8/15/23 | | | | 379 | |
| | | | |
| | 2,064 | | | Party City Holdings, Inc. (Specialty Retail), Callable 8/1/21 @ 103.31^ (a) | | | 6.63 | | | | 8/1/26 | | | | 1,997 | |
See accompanying notes to financial statements.
219
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 968 | | | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 5/15/21 @ 104.31 | | | 5.75 | | | | 5/15/26 | | | $ | 958 | |
| | | | |
| | 1,662 | | | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.59 | | | 6.13 | | | | 9/15/24 | | | | 1,670 | |
| | | | |
| | 778 | | | Peabody Finance Corp. (Oil, Gas & Consumable Fuels), Callable 8/5/19 @ 103.00 (a) | | | 6.00 | | | | 3/31/22 | | | | 796 | |
| | | | |
| | 2,423 | | | Peabody Finance Corp. (Oil, Gas & Consumable Fuels),
Callable 3/31/20 @ 104.78 (a) | | | 6.38 | | | | 3/31/25 | | | | 2,447 | |
| | | | |
| | 663 | | | Penske Automotive Group (Specialty Retail), Callable 12/1/19 @ 102.69 | | | 5.38 | | | | 12/1/24 | | | | 681 | |
| | | | |
| | 2,020 | | | Pilgrim’s Pride Corp. (Food Products), Callable 3/15/20 @ 102.88 (a) | | | 5.75 | | | | 3/15/25 | | | | 2,050 | |
| | | | |
| | 1,101 | | | Pilgrim’s Pride Corp. (Food Products), Callable 9/30/22 @ 102.94 (a) | | | 5.88 | | | | 9/30/27 | | | | 1,140 | |
| | | | |
| | 2,091 | | | Plastipak Holdings, Inc. (Containers & Packaging), Callable 10/15/20 @ 103.13^ (a) | | | 6.25 | | | | 10/15/25 | | | | 1,898 | |
| | | | |
| | 1,605 | | | Post Holdings, Inc. (Food Products), Callable 8/15/21 @ 102.50 (a) | | | 5.00 | | | | 8/15/26 | | | | 1,629 | |
| | | | |
| | 332 | | | Post Holdings, Inc. (Food Products), Callable 12/15/24 @ 102.75 (a) | | | 5.50 | | | | 12/15/29 | | | | 333 | |
| | | | |
| | 698 | | | PulteGroup, Inc. (Household Durables), Callable 12/1/25 @ 100.00 | | | 5.50 | | | | 3/1/26 | | | | 754 | |
| | | | |
| | 839 | | | PulteGroup, Inc. (Household Durables) | | | 6.00 | | | | 2/15/35 | | | | 860 | |
| | | | |
| | 2,395 | | | Quad Graphics, Inc. (Commercial Services & Supplies) | | | 7.00 | | | | 5/1/22 | | | | 2,431 | |
| | | | |
| | 1,077 | | | QualityTech LP/QTS Finance Corp. (Diversified Financial Services),
Callable 11/15/20 @ 103.56 (a) | | | 4.75 | | | | 11/15/25 | | | | 1,064 | |
| | | | |
| | 2,056 | | | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 1/15/23 @ 102.63 (a) | | | 5.25 | | | | 1/15/28 | | | | 2,044 | |
| | | | |
| | 357 | | | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 5/1/20 @ 102.88 (a) | | | 5.75 | | | | 5/1/25 | | | | 368 | |
| | | | |
| | 1,128 | | | Radian Group, Inc. (Thrifts & Mortgage Finance), Callable 7/1/24 @ 100.00 | | | 4.50 | | | | 10/1/24 | | | | 1,155 | |
| | | | |
| | 542 | | | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/22 @ 100.00 | | | 5.00 | | | | 8/15/22 | | | | 515 | |
| | | | |
| | 1,866 | | | Rite Aid Corp. (Food & Staples Retailing), Callable 8/5/19 @ 103.06 (a) | | | 6.13 | | | | 4/1/23 | | | | 1,574 | |
| | | | |
| | 2,880 | | | Rose Rock Midstream LP (Oil, Gas & Consumable Fuels), Callable 7/22/19 @ 102.81 | | | 5.63 | | | | 11/15/23 | | | | 2,778 | |
| | | | |
| | 1,099 | | | Rose Rock Midstream, LP (Oil, Gas & Consumable Fuels), Callable 7/22/19 @ 101.41 | | | 5.63 | | | | 7/15/22 | | | | 1,083 | |
| | | | |
| | 1,474 | | | Service Master Co. LLC (Diversified Consumer Services), Callable 11/15/19 @ 103.84 (a) | | | 5.13 | | | | 11/15/24 | | | | 1,515 | |
| | | | |
| | 867 | | | Shea Homes LP/Funding Corp. (Household Durables), Callable 8/5/19 @ 102.94 (a) | | | 5.88 | | | | 4/1/23 | | | | 884 | |
| | | | |
| | 1,147 | | | Silgan Holdings, Inc. (Containers & Packaging), Callable 3/15/20 @ 102.38 | | | 4.75 | | | | 3/15/25 | | | | 1,163 | |
| | | | |
| | 938 | | | Sinclair Television Group, Inc. (Media), Callable 3/15/21 @ 102.94 (a) | | | 5.88 | | | | 3/15/26 | | | | 959 | |
| | | | |
| | 1,783 | | | Sirius XM Radio, Inc. (Media), Callable 7/15/21 @ 102.31 (a) | | | 4.63 | | | | 7/15/24 | | | | 1,823 | |
| | | | |
| | 742 | | | Sirius XM Radio, Inc. (Media), Callable 7/15/21 @ 102.69 (a) | | | 5.38 | | | | 7/15/26 | | | | 771 | |
| | | | |
| | 1,271 | | | Sirius XM Radio, Inc. (Media), Callable 7/1/24 @ 102.75 (a) | | | 5.50 | | | | 7/1/29 | | | | 1,303 | |
| | | | |
| | 867 | | | Sonic Automotive, Inc. (Specialty Retail), Callable 8/5/19 @ 101.67 | | | 5.00 | | | | 5/15/23 | | | | 872 | |
| | | | |
| | 440 | | | Sonic Automotive, Inc. (Specialty Retail), Callable 3/15/22 @ 103.06 | | | 6.13 | | | | 3/15/27 | | | | 432 | |
| | | | |
| | 1,825 | | | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 10/23/24 @ 100.00 | | | 6.20 | | | | 1/23/25 | | | | 1,670 | |
| | | | |
| | 1,716 | | | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 4/1/21 @ 105.63 | | | 7.50 | | | | 4/1/26 | | | | 1,634 | |
| | | | |
| | 713 | | | Springleaf Finance Corp. (Consumer Finance) | | | 5.63 | | | | 3/15/23 | | | | 757 | |
| | | | |
| | 658 | | | Springleaf Finance Corp. (Consumer Finance), Callable 9/15/23 @ 100.00 | | | 6.13 | | | | 3/15/24 | | | | 707 | |
| | | | |
| | 354 | | | Springleaf Finance Corp. (Consumer Finance), Callable 7/15/27 @ 100.00 | | | 6.63 | | | | 1/15/28 | | | | 372 | |
| | | | |
| | 266 | | | Springleaf Finance Corp. (Consumer Finance) | | | 6.88 | | | | 3/15/25 | | | | 291 | |
| | | | |
| | 764 | | | Springleaf Finance Corp. (Consumer Finance) | | | 7.13 | | | | 3/15/26 | | | | 833 | |
| | | | |
| | 1,990 | | | Sprint Capital Corp. (Wireless Telecommunication Services) | | | 6.88 | | | | 11/15/28 | | | | 2,062 | |
| | | | |
| | 3,662 | | | Sprint Corp. (Wireless Telecommunication Services) | | | 7.13 | | | | 6/15/24 | | | | 3,872 | |
| | | | |
| | 487 | | | Sprint Corp. (Wireless Telecommunication Services), Callable 11/15/24 @ 100.00 | | | 7.63 | | | | 2/15/25 | | | | 519 | |
| | | | |
| | 678 | | | Sprint Corp. (Wireless Telecommunication Services), Callable 11/1/25 @ 100.00 | | | 7.63 | | | | 3/1/26 | | | | 722 | |
| | | | |
| | 595 | | | Sprint Nextel Corp. (Wireless Telecommunication Services) | | | 11.50 | | | | 11/15/21 | | | | 689 | |
| | | | |
| | 2,102 | | | SS&C Technologies, Inc. (Software), Callable 3/30/22 @ 104.13 (a) | | | 5.50 | | | | 9/30/27 | | | | 2,181 | |
| | | | |
| | 3,332 | | | Staples, Inc. (Specialty Retail), Callable 4/15/22 @ 103.75 (a) | | | 7.50 | | | | 4/15/26 | | | | 3,291 | |
| | | | |
| | 885 | | | Steel Dynamics, Inc. (Metals & Mining), Callable 9/15/20 @ 102.06 | | | 4.13 | | | | 9/15/25 | | | | 885 | |
| | | | |
| | 1,637 | | | Sunoco LP/Sunoco Finance Corp. (Oil, Gas & Consumable Fuels),
Callable 4/15/22 @ 103.00 (a) | | | 6.00 | | | | 4/15/27 | | | | 1,719 | |
| | | | |
| | 2,014 | | | Talen Energy Supply LLC (Independent Power and Renewable Electricity Producers),
Callable 5/15/22 @ 103.63 (a) | | | 7.25 | | | | 5/15/27 | | | | 2,064 | |
| | | | |
| | 1,768 | | | Tallgrass Energy Partners (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.13 | | | 5.50 | | | | 9/15/24 | | | | 1,825 | |
| | | | |
| | 722 | | | Tallgrass Energy Partners (Oil, Gas & Consumable Fuels), Callable 1/15/23 @ 102.75 (a) | | | 5.50 | | | | 1/15/28 | | | | 730 | |
| | | | |
| | 2,262 | | | Taylor Morrison Communities, Inc. (Household Durables), Callable 12/1/23 @ 100.00 (a) | | | 5.63 | | | | 3/1/24 | | | | 2,336 | |
| | | | |
| | 1,314 | | | Taylor Morrison Communities, Inc. (Household Durables), Callable 3/15/27 @ 100.00 (a) | | | 5.88 | | | | 6/15/27 | | | | 1,335 | |
See accompanying notes to financial statements.
220
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 48 | | | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 11/15/22 @ 102.31 | | | 4.63 | | | | 11/15/27 | | | $ | 49 | |
| | | | |
| | 1,125 | | | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 6/1/21 @ 102.44 | | | 4.88 | | | | 6/1/26 | | | | 1,167 | |
| | | | |
| | 1,198 | | | Tenet Healthcare Corp. (Health Care Providers & Services), Callable 5/1/20 @ 102.56 | | | 5.13 | | | | 5/1/25 | | | | 1,207 | |
| | | | |
| | 553 | | | Tenet Healthcare Corp. (Health Care Providers & Services), Callable 2/1/22 @ 103.13 (a) | | | 6.25 | | | | 2/1/27 | | | | 572 | |
| | | | |
| | 335 | | | TerraForm Power Operating LLC (Independent Power and Renewable Electricity Producers),
Callable 10/31/22 @ 100.00 (a) | | | 4.25 | | | | 1/31/23 | | | | 335 | |
| | | | |
| | 685 | | | TerraForm Power Operating LLC (Independent Power and Renewable Electricity Producers),
Callable 7/31/27 @ 100.00 (a) | | | 5.00 | | | | 1/31/28 | | | | 683 | |
| | | | |
| | 1,959 | | | The EW Scripps Co. (Media), Callable 5/15/20 @ 103.84 (a) | | | 5.13 | | | | 5/15/25 | | | | 1,890 | |
| | | | |
| | 1,382 | | | The Geo Group, Inc. (Equity Real Estate Investment Trusts), Callable 8/5/19 @ 101.47 | | | 5.88 | | | | 1/15/22 | | | | 1,358 | |
| | | | |
| | 336 | | | Triumph Group, Inc. (Aerospace & Defense), Callable 8/5/19 @ 100.00 | | | 4.88 | | | | 4/1/21 | | | | 331 | |
| | | | |
| | 1,182 | | | Triumph Group, Inc. (Aerospace & Defense), Callable 8/5/19 @ 101.31 | | | 5.25 | | | | 6/1/22 | | | | 1,155 | |
| | | | |
| | 966 | | | Twin River Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure),
Callable 6/1/22 @ 105.06 (a) | | | 6.75 | | | | 6/1/27 | | | | 1,006 | |
| | | | |
| | 4,811 | | | Unit Corp. (Energy Equipment & Services), Callable 8/5/19 @ 100.00 | | | 6.63 | | | | 5/15/21 | | | | 4,378 | |
| | | | |
| | 709 | | | United Rentals North America, Inc. (Trading Companies & Distributors),
Callable 10/15/20 @ 102.31 | | | 4.63 | | | | 10/15/25 | | | | 721 | |
| | | | |
| | 2,124 | | | United Rentals North America, Inc. (Trading Companies & Distributors),
Callable 9/15/21 @ 102.94 | | | 5.88 | | | | 9/15/26 | | | | 2,262 | |
| | | | |
| | 516 | | | United Rentals North America, Inc. (Trading Companies & Distributors),
Callable 12/15/21 @ 103.25 | | | 6.50 | | | | 12/15/26 | | | | 559 | |
| | | | |
| | 422 | | | Univision Communications, Inc. (Media), Callable 8/5/19 @ 101.71 | | | 5.13 | | | | 5/15/23 | | | | 411 | |
| | | | |
| | 21 | | | Univision Communications, Inc. (Media), Callable 2/15/20 @ 102.56 (a) | | | 5.13 | | | | 2/15/25 | | | | 20 | |
| | | | |
| | 1,347 | | | URS Corp. (Diversified Financial Services), Callable 1/1/22 @ 100.00 | | | 5.00 | | | | 4/1/22 | | | | 1,384 | |
| | | | |
| | 1,023 | | | VeriSign, Inc. (IT Services), Callable 7/15/22 @ 102.38 | | | 4.75 | | | | 7/15/27 | | | | 1,068 | |
| | | | |
| | 1,215 | | | ViaSat, Inc. (Communications Equipment), Callable 9/15/20 @ 102.81 (a) | | | 5.63 | | | | 9/15/25 | | | | 1,194 | |
| | | | |
| | 3,372 | | | Vistra Operations Co. LLC (Electric Utilities), Callable 2/15/22 @ 102.81 (a) | | | 5.63 | | | | 2/15/27 | | | | 3,569 | |
| | | | |
| | 414 | | | WellCare Health Plans, Inc. (Health Care Providers & Services),
Callable 8/15/21 @ 104.03 (a) | | | 5.38 | | | | 8/15/26 | | | | 439 | |
| | | | |
| | 780 | | | Western Digital Corp. (Technology Hardware, Storage & Peripherals),
Callable 11/15/25 @ 100.00 | | | 4.75 | | | | 2/15/26 | | | | 765 | |
| | | | |
| | 1,623 | | | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 1/1/23 @ 100.00 | | | 6.25 | | | | 4/1/23 | | | | 1,615 | |
| | | | |
| | 1,300 | | | Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure),
Callable 4/15/21 @ 102.69 (a) | | | 5.38 | | | | 4/15/26 | | | | 1,362 | |
| | | | |
| | 270 | | | Xerox Corp. (Technology Hardware, Storage & Peripherals) | | | 4.07 | | | | 3/17/22 | | | | 271 | |
| | | | |
| | 1,965 | | | XPO Logistics, Inc. (Air Freight & Logistics), Callable 8/15/21 @ 103.38 (a) | | | 6.75 | | | | 8/15/24 | | | | 2,095 | |
| | | | |
| | 1,234 | | | Zayo Group LLC/Zayo Capital, Inc. (Diversified Telecommunication Services),
Callable 1/15/22 @ 102.88 (a) | | | 5.75 | | | | 1/15/27 | | | | 1,253 | |
| | | | | | | | | | | | | | | | |
| | | | Total Corporate Bonds | | | | | | | | | | | 291,239 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Yankee Dollars — 13.07% | | | | | | | | | | | | |
| | | | |
| | 300 | | | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure),
Callable 5/15/20 @ 102.13 | | | 4.25 | | | | 5/15/24 | | | | 303 | |
| | | | |
| | 1,518 | | | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure),
Callable 10/15/20 @ 102.50 (a) | | | 5.00 | | | | 10/15/25 | | | | 1,530 | |
| | | | |
| | 1,168 | | | Adient Global Holdings Ltd. (Diversified Financial Services),
Callable 8/15/21 @ 102.44 (a) | | | 4.88 | | | | 8/15/26 | | | | 924 | |
| | | | |
| | 744 | | | Alcoa Nederland Holding (Metals & Mining), Callable 5/15/23 @ 103.06 (a) | | | 6.13 | | | | 5/15/28 | | | | 777 | |
| | | | |
| | 1,801 | | | Alcoa Nederland Holding (Metals & Mining), Callable 9/30/21 @ 103.50 (a) | | | 7.00 | | | | 9/30/26 | | | | 1,934 | |
| | | | |
| | 2,845 | | | Altice Financing SA (Diversified Financial Services), Callable 8/5/19 @ 103.31 (a) | | | 6.63 | | | | 2/15/23 | | | | 2,916 | |
| | | | |
| | 1,440 | | | Altice France SA (Diversified Telecommunication Services), Callable 2/1/22 @ 106.09 (a) | | | 8.13 | | | | 2/1/27 | | | | 1,509 | |
| | | | |
| | 933 | | | Ardagh Packaging Finance/Holdings USA (Containers & Packaging),
Callable 2/15/20 @ 104.50 (a) | | | 6.00 | | | | 2/15/25 | | | | 964 | |
| | | | |
| | 1,778 | | | Bausch Health Cos., Inc. (Pharmaceuticals), Callable 1/15/23 @ 103.50 (a) | | | 7.00 | | | | 1/15/28 | | | | 1,842 | |
| | | | |
| | 1,436 | | | Bombardier, Inc. (Aerospace & Defense), Callable 8/6/19 @ 101.00 (a) | | | 6.00 | | | | 10/15/22 | | | | 1,440 | |
| | | | |
| | 557 | | | Brookfield Residential Properties, Inc. (Household Durables), Callable 8/6/19 @ 101.53 (a) | | | 6.13 | | | | 7/1/22 | | | | 567 | |
| | | | |
| | 461 | | | Brookfield Residential Properties, Inc. (Household Durables),
Callable 5/15/20 @ 103.19 (a) | | | 6.38 | | | | 5/15/25 | | | | 452 | |
See accompanying notes to financial statements.
221
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Yankee Dollars (continued) | | | | | | | | | | | | |
| | | | |
| $ | 773 | | | C&W Senior Financing DAC (Diversified Financial Services),
Callable 9/15/22 @ 103.44 (a) | | | 6.88 | | | | 9/15/27 | | | $ | 796 | |
| | | | |
| | 1,534 | | | C&W Senior Financing DAC (Diversified Financial Services),
Callable 10/15/21 @ 103.75 (a) | | | 7.50 | | | | 10/15/26 | | | | 1,600 | |
| | | | |
| | 1,236 | | | Cascades, Inc. (Containers & Packaging), Callable 8/6/19 @ 101.38 (a) | | | 5.50 | | | | 7/15/22 | | | | 1,241 | |
| | | | |
| | 709 | | | Cascades, Inc. (Containers & Packaging), Callable 8/6/19 @ 102.88 (a) | | | 5.75 | | | | 7/15/23 | | | | 715 | |
| | | | |
| | 3,296 | | | Cimpress NV (Commercial Services & Supplies), Callable 6/15/21 @ 105.25 (a) | | | 7.00 | | | | 6/15/26 | | | | 3,346 | |
| | | | |
| | 1,255 | | | Cooke Omega Investments, Inc./Alpha Vessel Co. Holdings, Inc. (Food Products),
Callable 6/15/20 @ 104.25 (a) | | | 8.50 | | | | 12/15/22 | | | | 1,227 | |
| | | | |
| | 3,265 | | | Cott Holdings, Inc. (Beverages), Callable 4/1/20 @ 104.13 (a) | | | 5.50 | | | | 4/1/25 | | | | 3,326 | |
| | | | |
| | 1,521 | | | Ensco PLC (Energy Equipment & Services), Callable 11/1/25 @ 100.00 | | | 7.75 | | | | 2/1/26 | | | | 1,133 | |
| | | | |
| | 1,240 | | | Ensign Drilling, Inc. (Energy Equipment & Services), Callable 4/15/21 @ 104.63 (a) | | | 9.25 | | | | 4/15/24 | | | | 1,221 | |
| | | | |
| | 843 | | | Fairstone Financial, Inc. (Consumer Finance), Callable 7/15/21 @ 103.94 (a) | | | 7.88 | | | | 7/15/24 | | | | 860 | |
| | | | |
| | 1,397 | | | Hudbay Minerals, Inc. (Metals & Mining), Callable 1/15/20 @ 105.72 (a) | | | 7.63 | | | | 1/15/25 | | | | 1,442 | |
| | | | |
| | 193 | | | Intelsat Jackson Holdings SA (Diversified Financial Services), Callable 8/5/19 @ 101.83 | | | 5.50 | | | | 8/1/23 | | | | 177 | |
| | | | |
| | 915 | | | International Game Technology (Hotels, Restaurants & Leisure),
Callable 8/15/21 @ 100.00 (a) | | | 6.25 | | | | 2/15/22 | | | | 966 | |
| | | | |
| | 1,029 | | | International Game Technology PLC (Hotels, Restaurants & Leisure),
Callable 7/15/26 @ 100.00 (a) | | | 6.25 | | | | 1/15/27 | | | | 1,126 | |
| | | | |
| | 1,281 | | | JBS USA LUX SA/JBS USA Finance, Inc. (Food Products), Callable 2/15/23 @ 103.38 (a) | | | 6.75 | | | | 2/15/28 | | | | 1,391 | |
| | | | |
| | 1,774 | | | JBS USA LUX SA/JBS USA Finance, Inc. (Food Products), Callable 4/15/24 @ 103.25 (a) | | | 6.50 | | | | 4/15/29 | | | | 1,927 | |
| | | | |
| | 1,887 | | | Kinross Gold Corp. (Metals & Mining), Callable 4/15/27 @ 100.00 | | | 4.50 | | | | 7/15/27 | | | | 1,906 | |
| | | | |
| | 2,028 | | | Mallinckrodt Finance/SB (Pharmaceuticals), Callable 8/5/19 @ 101.44^ (a) | | | 5.75 | | | | 8/1/22 | | | | 1,729 | |
| | | | |
| | 2,245 | | | Mallinckrodt International Finance (Pharmaceuticals), Callable 8/5/19 @ 100.00 (a) | | | 4.88 | | | | 4/15/20 | | | | 2,166 | |
| | | | |
| | 1,100 | | | MDC Partners, Inc. (Media), Callable 8/6/19 @ 104.88 (a) | | | 6.50 | | | | 5/1/24 | | | | 1,012 | |
| | | | |
| | 353 | | | MGM China Holdings Ltd. (Hotels, Restaurants & Leisure), Callable 5/15/21 @ 102.69 (a) | | | 5.38 | | | | 5/15/24 | | | | 362 | |
| | | | |
| | 596 | | | MGM China Holdings Ltd. (Hotels, Restaurants & Leisure), Callable 5/15/22 @ 102.94 (a) | | | 5.88 | | | | 5/15/26 | | | | 613 | |
| | | | |
| | 239 | | | Nokia Oyj (Communications Equipment) | | | 4.38 | | | | 6/12/27 | | | | 245 | |
| | | | |
| | 551 | | | Norbord, Inc. (Paper & Forest Products), Callable 7/15/22 @ 102.88 (a) | | | 5.75 | | | | 7/15/27 | | | | 557 | |
| | | | |
| | 1,895 | | | Nova Chemicals Corp. (Chemicals), Callable 3/3/24 @ 100.00 (a) | | | 4.88 | | | | 6/1/24 | | | | 1,971 | |
| | | | |
| | 1,844 | | | Nufarm Australia Ltd./Nufarm Americas, Inc. (Chemicals), Callable 4/30/21 @ 102.88 (a) | | | 5.75 | | | | 4/30/26 | | | | 1,729 | |
| | | | |
| | 530 | | | Numericable – SFR SAS (Diversified Telecommunication Services),
Callable 8/19/19 @ 103.13 (a) | | | 6.25 | | | | 5/15/24 | | | | 545 | |
| | | | |
| | 1,243 | | | Numericable – SFR SAS (Diversified Telecommunication Services),
Callable 5/1/21 @ 103.69 (a) | | | 7.38 | | | | 5/1/26 | | | | 1,274 | |
| | | | |
| | 1,595 | | | Open Text Corp. (Software), Callable 6/1/21 @ 102.94 (a) | | | 5.88 | | | | 6/1/26 | | | | 1,691 | |
| | | | |
| | 3,097 | | | Parkland Fuel Corp. (Oil, Gas & Consumable Fuels), Callable 4/1/21 @ 104.50 (a) | | | 6.00 | | | | 4/1/26 | | | | 3,166 | |
| | | | |
| | 691 | | | Precision Drilling Corp. (Energy Equipment & Services), Callable 11/15/20 @ 105.34 (a) | | | 7.13 | | | | 1/15/26 | | | | 670 | |
| | | | |
| | 896 | | | Precision Drilling Corp. (Energy Equipment & Services), Callable 12/15/19 @ 103.88 | | | 7.75 | | | | 12/15/23 | | | | 914 | |
| | | | |
| | 1,067 | | | Rockpoint Gas Storage Canada Ltd. (Oil, Gas & Consumable Fuels),
Callable 3/31/20 @ 107.00 (a) | | | 7.00 | | | | 3/31/23 | | | | 1,080 | |
| | | | |
| | 1,097 | | | Sable International Finance Ltd. (Diversified Telecommunication Services),
Callable 9/7/22 @ 102.88 (a) | | | 5.75 | | | | 9/7/27 | | | | 1,096 | |
| | | | |
| | 3,162 | | | Shelf Drilling Holdings Ltd. (Energy Equipment & Services),
Callable 2/15/21 @ 106.19 (a) | | | 8.25 | | | | 2/15/25 | | | | 2,925 | |
| | | | |
| | 1,657 | | | Superior Plus LP/Superior General Partner, Inc. (Gas Utilities),
Callable 7/15/21 @ 105.25 (a) | | | 7.00 | | | | 7/15/26 | | | | 1,709 | |
| | | | |
| | 1,094 | | | Teck Resources Ltd. (Metals & Mining), Callable 1/15/41 @ 100.00 | | | 6.25 | | | | 7/15/41 | | | | 1,214 | |
| | | | |
| | 806 | | | Telecom Italia Capital SA (Diversified Telecommunication Services) | | | 6.00 | | | | 9/30/34 | | | | 812 | |
| | | | |
| | 1,745 | | | Telecom Italia Capital SA (Diversified Telecommunication Services) | | | 6.38 | | | | 11/15/33 | | | | 1,800 | |
| | | | |
| | 2,937 | | | Teva Pharmaceutical Finance Netherlands III BV (Pharmaceuticals),
Callable 12/1/27 @ 100.00 | | | 6.75 | | | | 3/1/28 | | | | 2,702 | |
| | | | |
| | 1,073 | | | Tullow Oil PLC (Oil, Gas & Consumable Fuels), Callable 3/1/21 @ 103.50 (a) | | | 7.00 | | | | 3/1/25 | | | | 1,080 | |
| | | | |
| | 474 | | | UPCB Finance IV Ltd. (Media), Callable 1/15/20 @ 102.69 (a) | | | 5.38 | | | | 1/15/25 | | | | 487 | |
| | | | |
| | 1,159 | | | Virgin Media Secured Finance PLC (Diversified Financial Services),
Callable 5/15/24 @ 102.75 (a) | | | 5.50 | | | | 5/15/29 | | | | 1,175 | |
See accompanying notes to financial statements.
222
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Yankee Dollars (continued) | | | | | | | | | | | | |
| | | | |
| $ | 1,125 | | | VRX Escrow Corp. (Pharmaceuticals), Callable 8/6/19 @ 101.47 (a) | | | 5.88 | | | | 5/15/23 | | | $ | 1,139 | |
| | | | |
| | 2,664 | | | VRX Escrow Corp. (Pharmaceuticals), Callable 4/15/20 @ 103.06 (a) | | | 6.13 | | | | 4/15/25 | | | | 2,716 | |
| | | | | | | | | | | | | | | | |
| | | | Total Yankee Dollars | | | | | | | | | | | 78,137 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Companies — 13.01% | | | | | | | | | | | | |
| | | | |
| | 4,203,040 | | | Federated Treasury Obligations Fund, Institutional Shares ^^ | | | 2.22 | (g) | | | | | | | 4,203 | |
| | | | |
| | 73,570,801 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (g) | | | | | | | 73,571 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Companies | | | | | | | | | | | 77,774 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Purchased Swaptions — 0.00% | | | | | | | | | | | | |
| | | | Total Purchased Swaptions | | | | | | | | | | | 8 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Common Stock — 0.00% | | | | | | | | | | | | |
| | | | |
| | 1,740,900 | | | ACC Claims Holdings LLC, Class A (Communications Equipment) | | | | | | | | | | | — | |
| | | | | | | | | | | | | | | | |
| | | | Total Common Stock | | | | | | | | | | | — | |
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | | | | | | | | | | |
| | | | |
| | | | Repurchase Agreement — 0.98% | | | | | | | | | | | | |
| | | | |
| $ | 5,855 | | | Jefferies LLC (Purchased on 6/28/19, proceeds at maturity $5,856,125 collateralized by U.S. Treasury Obligations, 1.72% – 1.83%, 8/31/23 – 4/30/26 fair value $5,972,021) ^^ | | | 2.50 | | | | 7/1/19 | | | | 5,855 | |
| | | | | | | | | | | | | | | | |
| | | | Total Repurchase Agreement | | | | | | | | | | | 5,855 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $579,950) — 100.37% | | | | | | | | | | | 600,084 | |
| | | | Liabilities in excess of other assets — (0.37)% | | | | | | | | | | | (2,236 | ) |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 597,848 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| ^ | All or part of this security was on loan as of June 30, 2019. The total value of securities on loan as of June 30, 2019, was $8,454 (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 June 30, 2019. |
| (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 disclosed is the rate in effect on June 30, 2019. |
| (c) | Variable Rate Security. The rate disclosed is the rate in effect on June 30, 2019. |
| (d) | Security was valued using significant unobservable inputs as of June 30, 2019. |
| (e) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed illiquid by the Specialist Manager and represent 1.06% of the Portfolio’s net assets. |
| (f) | A perpetual bond is one with no maturity date that pays a fixed interest rate until the bond insurance is terminated. |
| (g) | The rate disclosed is the rate in effect on June 30, 2019. |
bps — Basis Points
REIT — Real Estate Investment Trust
ULC — Unlimited Liability Co.
US0001M — 1 Month US Dollar LIBOR
US0003M — 3 Month US Dollar LIBOR
US0006M — 6 Month US Dollar LIBOR
See accompanying notes to financial statements.
223
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | |
The Fixed Income Opportunity Portfolio | | Fort Washington
Investment
Advisors, Inc. | | | Parametric Portfolio
Associates, LLC | | | Western Asset
Management
Company, Ltd. | | | Total | |
Asset Backed Securities | | | — | | | | — | | | | 1.45 | % | | | 1.45 | % |
| | | | |
Collateralized Mortgage Obligations | | | — | | | | — | | | | 17.39 | % | | | 17.39 | % |
| | | | |
U.S. Government Agency Mortgages | | | — | | | | — | | | | 5.75 | % | | | 5.75 | % |
| | | | |
Corporate Bonds | | | 48.43 | % | | | — | | | | 0.29 | % | | | 48.72 | % |
| | | | |
Yankee Dollars | | | 13.07 | % | | | — | | | | — | | | | 13.07 | % |
| | | | |
Investment Companies | | | 0.70 | % | | | 11.96 | % | | | 0.35 | % | | | 13.01 | % |
| | | | |
Purchased Swaptions | | | — | | | | — | | | | 0.00 | % | | | 0.00 | % |
| | | | |
Common Stock | | | 0.00 | % | | | — | | | | — | | | | 0.00 | % |
| | | | |
Repurchase Agreement | | | 0.98 | % | | | — | | | | — | | | | 0.98 | % |
| | | | |
Other Assets (Liabilities) | | | (0.61 | )% | | | 0.13 | % | | | 0.11 | % | | | (0.37 | )% |
| | | | | | | | | | | | | | | | |
Total Net Assets | | | 62.57 | % | | | 12.09 | % | | | 25.34 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
The following tables reflect the open derivative positions held by the Portfolio as of June 30, 2019.
Futures Contracts Purchased^
| | | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
30-Year US Treasury Bond Future | | 4 | | 9/19/19 | | $ | 622 | | | $ | 20 | |
| | | | |
5-Year US Treasury Note Future | | 631 | | 9/30/19 | | | 74,557 | | | | 137 | |
| | | | |
Ultra Long Term US Treasury Bond Future | | 34 | | 9/19/19 | | | 6,037 | | | | 238 | |
| | | | | | | | | | | | |
| | | | $ | 81,216 | | | $ | 395 | |
| | | | | | | | | | | | |
| | | | |
| Futures Contracts Sold^ | | | | | | | | | | |
Description | | Number of
Contracts | | Expiration
Date | | Notional
Amount
(000) | | | Value and
Unrealized
Appreciation/
(Depreciation)
(000) | |
10-Year US Treasury Note Future | | 72 | | 9/19/19 | | $ | 9,214 | | | $ | (174 | ) |
10-Year US Treasury Note Future | | 114 | | 9/19/19 | | | 15,746 | | | | (272 | ) |
| | | | | | | | | | | | |
| | | | $ | 24,960 | | | $ | (446 | ) |
| | | | | | | | | | | | |
| | |
| | Total Unrealized Appreciation | | | $ | 395 | |
| | Total Unrealized Depreciation | | | | (446 | ) |
| | | | | | | |
| | Total Net Unrealized Appreciation/(Depreciation) | | | $ | (51 | ) |
| | | | | | | | | | | | |
| ^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
224
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — June 30, 2019
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) | |
| | | | |
| Euro — | | U.S. Dollar — | | Citibank N.A. | | | 7/17/19 | | | $ | — | |
| | | | | | | | | | | | |
| | | | | | | | $ | — | |
| | | | | | | | | | | | |
| | | |
| | | | Total Unrealized Appreciation | | | $ | — | |
| | | |
| | | | Total Unrealized Depreciation | | | | — | |
| | | | | | | | | | | | |
| | | |
| | | | Total Net Unrealized Appreciation/(Depreciation) | | | $ | — | |
| | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
Swaption Contracts
Over-the-counter swaptions purchased as of June 30, 2019 were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Description and terms of payments | | Counterparty | | | Exercise
Price | | | Expiration
Date | | | Notional
Amount
(000)† | | | Value
(000) | | | Upfront
Premiums
Paid/(Received)
(000) | | | Unrealized
Appreciation/
(Depreciation)
(000) | |
Credit default swaption on buy protection Markit CDX.NA.IG.32 6/20/24, Put Option | |
| Goldman Sachs
International |
| | $ | 70.00 | | | | 6/20/24 | | | $ | 8,336 | | | $ | 8 | | | $ | 17 | | | $ | (9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | | | | | | $ | 8 | | | $ | 17 | | | $ | (9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| † | In the event a credit default swaption is exercised and a credit event occurs as defined under the terms of the swap agreement, the notional amount is the maximum potential amount that could be required to be paid as a seller of credit protection or received as a buyer of credit protection. |
Over-the-Counter Credit Default Swap Agreements — Buy Protection (a)
Openover-the-counter credit default swap agreements as of June 30, 2019 were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Underlying Instrument | | Pay Fixed
Rate | | | Payment
Frequency | | | Implied
Credit
Spread at
June 30,
2019 (b) | | | Counterparty | | | Expiration
Date | | | Notional
Amount
(000) (c) | | | Value
(000) | | | Upfront
Premiums
Paid/(Received)
(000) | | | Unrealized
Appreciation/
(Depreciation)
(000) | |
Markit CMBX | | | 0.50 | % | | | Monthly | | | | 0.52 | % | | | Morgan Stanley | | | | 8/17/61 | | | $ | 11,100 | | | $ | 17 | | | $ | (100 | ) | | $ | 117 | |
Markit CMBX | | | 0.50 | % | | | Monthly | | | | 0.52 | % | | | Morgan Stanley | | | | 8/17/61 | | | | 5,500 | | | | 9 | | | | (41 | ) | | | 50 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 26 | | | $ | (141 | ) | | $ | 167 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | Total swap agreements at value (assets) | | | $ | 26 | |
| | | | | | | | | | | | | | | Total swap agreements at value (liabilities) | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | Net swap agreements at value | | | $ | 26 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (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.
225
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Securities — 2.99% | | | | | | | | | | | | |
| | | | |
| $ | 300 | | | Fannie Mae | | | 1.13 | | | | 7/26/19 | | | $ | 300 | |
| | | | |
| | 350 | | | Fannie Mae | | | 1.38 | | | | 10/7/21 | | | | 347 | |
| | | | |
| | 260 | | | Fannie Mae | | | 1.50 | | | | 6/22/20 | | | | 259 | |
| | | | |
| | 350 | | | Fannie Mae | | | 1.88 | | | | 9/24/26 | | | | 346 | |
| | | | |
| | 400 | | | Fannie Mae | | | 2.00 | | | | 10/5/22 | | | | 403 | |
| | | | |
| | 400 | | | Fannie Mae | | | 2.00 | | | | 1/5/22 | | | | 402 | |
| | | | |
| | 150 | | | Fannie Mae | | | 2.13 | | | | 4/24/26 | | | | 151 | |
| | | | |
| | 250 | | | Fannie Mae | | | 2.63 | | | | 9/6/24 | | | | 259 | |
| | | | |
| | 95 | | | Fannie Mae | | | 6.25 | | | | 5/15/29 | | | | 128 | |
| | | | |
| | 160 | | | Fannie Mae | | | 6.63 | | | | 11/15/30 | | | | 229 | |
| | | | |
| | 180 | | | Fannie Mae | | | 7.25 | | | | 5/15/30 | | | | 265 | |
| | | | |
| | 50 | | | Federal Farm Credit Bank, Callable 7/12/19 @ 100.00 | | | 1.58 | | | | 2/17/21 | | | | 50 | |
| | | | |
| | 500 | | | Federal Home Loan Bank | | | 1.13 | | | | 7/14/21 | | | | 493 | |
| | | | |
| | 500 | | | Federal Home Loan Bank | | | 1.38 | | | | 9/28/20 | | | | 497 | |
| | | | |
| | 500 | | | Federal Home Loan Bank | | | 1.38 | | | | 2/18/21 | | | | 496 | |
| | | | |
| | 50 | | | Federal Home Loan Bank | | | 2.13 | | | | 3/10/23 | | | | 51 | |
| | | | |
| | 75 | | | Federal Home Loan Bank, Callable 1/29/20 @ 100.00 | | | 2.25 | | | | 1/29/21 | | | | 75 | |
| | | | |
| | 100 | | | Federal Home Loan Bank, Callable 9/29/19 @ 100.00 | | | 2.51 | | | | 12/29/22 | | | | 100 | |
| | | | |
| | 100 | | | Federal Home Loan Bank | | | 2.63 | | | | 10/1/20 | | | | 101 | |
| | | | |
| | 300 | | | Federal Home Loan Bank | | | 2.63 | | | | 5/28/20 | | | | 302 | |
| | | | |
| | 160 | | | Federal Home Loan Bank | | | 2.88 | | | | 9/11/20 | | | | 162 | |
| | | | |
| | 150 | | | Federal Home Loan Bank | | | 2.88 | | | | 9/13/24 | | | | 157 | |
| | | | |
| | 500 | | | Federal Home Loan Bank | | | 3.00 | | | | 10/12/21 | | | | 512 | |
| | | | |
| | 300 | | | Federal Home Loan Bank | | | 3.38 | | | | 9/8/23 | | | | 319 | |
| | | | |
| | 180 | | | Federal Home Loan Bank | | | 5.25 | | | | 12/11/20 | | | | 189 | |
| | | | |
| | 65 | | | Federal Home Loan Bank | | | 5.50 | | | | 7/15/36 | | | | 90 | |
| | | | |
| | 200 | | | Freddie Mac | | | 1.38 | | | | 5/1/20 | | | | 199 | |
| | | | |
| | 250 | | | Freddie Mac | | | 1.40 | | | | 8/22/19 | | | | 250 | |
| | | | |
| | 500 | | | Freddie Mac | | | 1.88 | | | | 11/17/20 | | | | 500 | |
| | | | |
| | 350 | | | Freddie Mac | | | 2.38 | | | | 1/13/22 | | | | 355 | |
| | | | |
| | 150 | | | Freddie Mac | | | 6.25 | | | | 7/15/32 | | | | 215 | |
| | | | |
| | 180 | | | Freddie Mac | | | 6.75 | | | | 3/15/31 | | | | 260 | |
| | | | |
| | 110 | | | Tennessee Valley Authority | | | 4.70 | | | | 7/15/33 | | | | 136 | |
| | | | |
| | 85 | | | Tennessee Valley Authority | | | 5.25 | | | | 9/15/39 | | | | 113 | |
| | | | |
| | 100 | | | Tennessee Valley Authority | | | 5.88 | | | | 4/1/36 | | | | 138 | |
| | | | |
| | 190 | | | Tennessee Valley Authority | | | 6.15 | | | | 1/15/38 | | | | 278 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Securities | | | | | | | | | | | 9,127 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | U.S. Treasury Obligations — 96.19% | | | | | | | | | | | | |
| | | | |
| | 1,460 | | | U.S. Treasury Bond | | | 2.25 | | | | 8/15/46 | | | | 1,377 | |
| | | | |
| | 1,550 | | | U.S. Treasury Bond | | | 2.50 | | | | 5/15/46 | | | | 1,539 | |
| | | | |
| | 1,135 | | | U.S. Treasury Bond | | | 2.50 | | | | 2/15/46 | | | | 1,128 | |
| | | | |
| | 1,015 | | | U.S. Treasury Bond | | | 2.50 | | | | 2/15/45 | | | | 1,010 | |
| | | | |
| | 1,520 | | | U.S. Treasury Bond | | | 2.75 | | | | 11/15/47 | | | | 1,584 | |
| | | | |
| | 837 | | | U.S. Treasury Bond | | | 2.75 | | | | 8/15/42 | | | | 877 | |
| | | | |
| | 671 | | | U.S. Treasury Bond | | | 2.75 | | | | 11/15/42 | | | | 703 | |
| | | | |
| | 1,110 | | | U.S. Treasury Bond | | | 2.75 | | | | 8/15/47 | | | | 1,157 | |
| | | | |
| | 660 | | | U.S. Treasury Bond | | | 2.88 | | | | 5/15/49 | | | | 707 | |
| | | | |
| | 1,980 | | | U.S. Treasury Bond | | | 2.88 | | | | 8/15/45 | | | | 2,114 | |
| | | | |
| | 955 | | | U.S. Treasury Bond | | | 2.88 | | | | 11/15/46 | | | | 1,021 | |
| | | | |
| | 1,116 | | | U.S. Treasury Bond | | | 2.88 | | | | 5/15/43 | | | | 1,192 | |
| | | | |
| | 2,005 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/47 | | | | 2,196 | |
| | | | |
| | 1,615 | | | U.S. Treasury Bond | | | 3.00 | | | | 11/15/44 | | | | 1,763 | |
| | | | |
| | 1,260 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/45 | | | | 1,376 | |
| | | | |
| | 1,470 | | | U.S. Treasury Bond | | | 3.00 | | | | 11/15/45 | | | | 1,607 | |
See accompanying notes to financial statements.
226
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 2,295 | | | U.S. Treasury Bond | | | 3.00 | | | | 8/15/48 | | | $ | 2,513 | |
| | | | |
| | 389 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/42 | | | | 425 | |
| | | | |
| | 1,380 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/49 | | | | 1,513 | |
| | | | |
| | 1,520 | | | U.S. Treasury Bond | | | 3.00 | | | | 2/15/48 | | | | 1,663 | |
| | | | |
| | 1,925 | | | U.S. Treasury Bond | | | 3.00 | | | | 5/15/47 | | | | 2,106 | |
| | | | |
| | 1,505 | | | U.S. Treasury Bond | | | 3.13 | | | | 5/15/48 | | | | 1,686 | |
| | | | |
| | 416 | | | U.S. Treasury Bond | | | 3.13 | | | | 11/15/41 | | | | 465 | |
| | | | |
| | 1,647 | | | U.S. Treasury Bond | | | 3.13 | | | | 2/15/43 | | | | 1,835 | |
| | | | |
| | 425 | | | U.S. Treasury Bond | | | 3.13 | | | | 2/15/42 | | | | 475 | |
| | | | |
| | 1,580 | | | U.S. Treasury Bond | | | 3.13 | | | | 8/15/44 | | | | 1,761 | |
| | | | |
| | 1,130 | | | U.S. Treasury Bond | | | 3.38 | | | | 5/15/44 | | | | 1,312 | |
| | | | |
| | 700 | | | U.S. Treasury Bond | | | 3.38 | | | | 11/15/48 | | | | 823 | |
| | | | |
| | 285 | | | U.S. Treasury Bond | | | 3.50 | | | | 2/15/39 | | | | 338 | |
| | | | |
| | 1,280 | | | U.S. Treasury Bond | | | 3.63 | | | | 2/15/44 | | | | 1,545 | |
| | | | |
| | 1,500 | | | U.S. Treasury Bond | | | 3.63 | | | | 8/15/43 | | | | 1,809 | |
| | | | |
| | 730 | | | U.S. Treasury Bond | | | 3.75 | | | | 8/15/41 | | | | 896 | |
| | | | |
| | 1,345 | | | U.S. Treasury Bond | | | 3.75 | | | | 11/15/43 | | | | 1,655 | |
| | | | |
| | 685 | | | U.S. Treasury Bond | | | 3.88 | | | | 8/15/40 | | | | 855 | |
| | | | |
| | 540 | | | U.S. Treasury Bond | | | 4.25 | | | | 11/15/40 | | | | 708 | |
| | | | |
| | 85 | | | U.S. Treasury Bond | | | 4.25 | | | | 5/15/39 | | | | 111 | |
| | | | |
| | 546 | | | U.S. Treasury Bond | | | 4.38 | | | | 5/15/41 | | | | 728 | |
| | | | |
| | 300 | | | U.S. Treasury Bond | | | 4.38 | | | | 11/15/39 | | | | 399 | |
| | | | |
| | 363 | | | U.S. Treasury Bond | | | 4.38 | | | | 5/15/40 | | | | 483 | |
| | | | |
| | 530 | | | U.S. Treasury Bond | | | 4.38 | | | | 2/15/38 | | | | 700 | |
| | | | |
| | 225 | | | U.S. Treasury Bond | | | 4.50 | | | | 8/15/39 | | | | 304 | |
| | | | |
| | 425 | | | U.S. Treasury Bond | | | 4.50 | | | | 2/15/36 | | | | 560 | |
| | | | |
| | 255 | | | U.S. Treasury Bond | | | 4.50 | | | | 5/15/38 | | | | 342 | |
| | | | |
| | 673 | | | U.S. Treasury Bond | | | 4.63 | | | | 2/15/40 | | | | 923 | |
| | | | |
| | 825 | | | U.S. Treasury Bond | | | 4.75 | | | | 2/15/41 | | | | 1,153 | |
| | | | |
| | 70 | | | U.S. Treasury Bond | | | 4.75 | | | | 2/15/37 | | | | 96 | |
| | | | |
| | 235 | | | U.S. Treasury Bond | | | 5.00 | | | | 5/15/37 | | | | 331 | |
| | | | |
| | 282 | | | U.S. Treasury Bond | | | 5.25 | | | | 11/15/28 | | | | 360 | |
| | | | |
| | 760 | | | U.S. Treasury Bond | | | 5.25 | | | | 2/15/29 | | | | 976 | |
| | | | |
| | 599 | | | U.S. Treasury Bond | | | 5.38 | | | | 2/15/31 | | | | 804 | |
| | | | |
| | 85 | | | U.S. Treasury Bond | | | 6.00 | | | | 2/15/26 | | | | 107 | |
| | | | |
| | 150 | | | U.S. Treasury Bond | | | 6.13 | | | | 8/15/29 | | | | 206 | |
| | | | |
| | 235 | | | U.S. Treasury Bond | | | 6.13 | | | | 11/15/27 | | | | 311 | |
| | | | |
| | 320 | | | U.S. Treasury Bond | | | 6.25 | | | | 5/15/30 | | | | 451 | |
| | | | |
| | 197 | | | U.S. Treasury Bond | | | 6.25 | | | | 8/15/23 | | | | 232 | |
| | | | |
| | 100 | | | U.S. Treasury Bond | | | 6.38 | | | | 8/15/27 | | | | 133 | |
| | | | |
| | 218 | | | U.S. Treasury Bond | | | 6.50 | | | | 11/15/26 | | | | 287 | |
| | | | |
| | 200 | | | U.S. Treasury Bond | | | 6.75 | | | | 8/15/26 | | | | 265 | |
| | | | |
| | 100 | | | U.S. Treasury Bond | | | 7.25 | | | | 8/15/22 | | | | 117 | |
| | | | |
| | 295 | | | U.S. Treasury Bond | | | 7.63 | | | | 2/15/25 | | | | 386 | |
| | | | |
| | 7 | | | U.S. Treasury Bond | | | 7.88 | | | | 2/15/21 | | | | 8 | |
| | | | |
| | 400 | | | U.S. Treasury Bond | | | 8.00 | | | | 11/15/21 | | | | 457 | |
| | | | |
| | 110 | | | U.S. Treasury Bond | | | 8.13 | | | | 8/15/21 | | | | 124 | |
| | | | |
| | 1,870 | | | U.S. Treasury Note | | | 1.13 | | | | 2/28/21 | | | | 1,849 | |
| | | | |
| | 1,500 | | | U.S. Treasury Note | | | 1.13 | | | | 9/30/21 | | | | 1,480 | |
| | | | |
| | 1,400 | | | U.S. Treasury Note | | | 1.13 | | | | 8/31/21 | | | | 1,381 | |
| | | | |
| | 1,885 | | | U.S. Treasury Note | | | 1.13 | | | | 7/31/21 | | | | 1,860 | |
| | | | |
| | 1,855 | | | U.S. Treasury Note | | | 1.13 | | | | 6/30/21 | | | | 1,832 | |
| | | | |
| | 1,870 | | | U.S. Treasury Note | | | 1.25 | | | | 3/31/21 | | | | 1,852 | |
| | | | |
| | 1,675 | | | U.S. Treasury Note | | | 1.25 | | | | 10/31/21 | | | | 1,656 | |
See accompanying notes to financial statements.
227
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 930 | | | U.S. Treasury Note | | | 1.25 | | | | 7/31/23 | | | $ | 912 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 1.38 | | | | 10/31/20 | | | | 993 | |
| | | | |
| | 1,235 | | | U.S. Treasury Note | | | 1.38 | | | | 9/30/23 | | | | 1,216 | |
| | | | |
| | 1,178 | | | U.S. Treasury Note | | | 1.38 | | | | 9/30/20 | | | | 1,170 | |
| | | | |
| | 1,425 | | | U.S. Treasury Note | | | 1.38 | | | | 6/30/23 | | | | 1,405 | |
| | | | |
| | 890 | | | U.S. Treasury Note | | | 1.38 | | | | 9/15/20 | | | | 885 | |
| | | | |
| | 1,470 | | | U.S. Treasury Note | | | 1.38 | | | | 5/31/21 | | | | 1,459 | |
| | | | |
| | 1,230 | | | U.S. Treasury Note | | | 1.38 | | | | 8/31/23 | | | | 1,212 | |
| | | | |
| | 1,585 | | | U.S. Treasury Note | | | 1.38 | | | | 4/30/21 | | | | 1,573 | |
| | | | |
| | 1,120 | | | U.S. Treasury Note | | | 1.38 | | | | 8/31/20 | | | | 1,113 | |
| | | | |
| | 680 | | | U.S. Treasury Note | | | 1.50 | | | | 8/15/20 | | | | 677 | |
| | | | |
| | 1,350 | | | U.S. Treasury Note | | | 1.50 | | | | 2/28/23 | | | | 1,339 | |
| | | | |
| | 1,115 | | | U.S. Treasury Note | | | 1.50 | | | | 3/31/23 | | | | 1,105 | |
| | | | |
| | 1,100 | | | U.S. Treasury Note | | | 1.50 | | | | 1/31/22 | | | | 1,093 | |
| | | | |
| | 1,800 | | | U.S. Treasury Note | | | 1.50 | | | | 8/15/26 | | | | 1,753 | |
| | | | |
| | 930 | | | U.S. Treasury Note | | | 1.50 | | | | 6/15/20 | | | | 926 | |
| | | | |
| | 500 | | | U.S. Treasury Note | | | 1.63 | | | | 10/15/20 | | | | 498 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 1.63 | | | | 7/31/20 | | | | 997 | |
| | | | |
| | 1,200 | | | U.S. Treasury Note | | | 1.63 | | | | 8/31/22 | | | | 1,196 | |
| | | | |
| | 1,540 | | | U.S. Treasury Note | | | 1.63 | | | | 8/15/22 | | | | 1,535 | |
| | | | |
| | 500 | | | U.S. Treasury Note | | | 1.63 | | | | 6/30/21 | | | | 499 | |
| | | | |
| | 1,780 | | | U.S. Treasury Note | | | 1.63 | | | | 11/30/20 | | | | 1,774 | |
| | | | |
| | 877 | | | U.S. Treasury Note | | | 1.63 | | | | 11/15/22 | | | | 874 | |
| | | | |
| | 1,200 | | | U.S. Treasury Note | | | 1.63 | | | | 10/31/23 | | | | 1,193 | |
| | | | |
| | 1,250 | | | U.S. Treasury Note | | | 1.63 | | | | 5/31/23 | | | | 1,245 | |
| | | | |
| | 810 | | | U.S. Treasury Note | | | 1.63 | | | | 4/30/23 | | | | 806 | |
| | | | |
| | 2,545 | | | U.S. Treasury Note | | | 1.63 | | | | 5/15/26 | | | | 2,503 | |
| | | | |
| | 2,075 | | | U.S. Treasury Note | | | 1.63 | | | | 2/15/26 | | | | 2,044 | |
| | | | |
| | 710 | | | U.S. Treasury Note | | | 1.75 | | | | 9/30/22 | | | | 710 | |
| | | | |
| | 1,603 | | | U.S. Treasury Note | | | 1.75 | | | | 5/15/23 | | | | 1,603 | |
| | | | |
| | 1,895 | | | U.S. Treasury Note | | | 1.75 | | | | 11/30/21 | | | | 1,895 | |
| | | | |
| | 750 | | | U.S. Treasury Note | | | 1.75 | | | | 5/15/22 | | | | 750 | |
| | | | |
| | 1,350 | | | U.S. Treasury Note | | | 1.75 | | | | 6/30/22 | | | | 1,351 | |
| | | | |
| | 1,395 | | | U.S. Treasury Note | | | 1.75 | | | | 5/31/22 | | | | 1,396 | |
| | | | |
| | 750 | | | U.S. Treasury Note | | | 1.75 | | | | 11/15/20 | | | | 749 | |
| | | | |
| | 910 | | | U.S. Treasury Note | | | 1.75 | | | | 4/30/22 | | | | 910 | |
| | | | |
| | 500 | | | U.S. Treasury Note | | | 1.75 | | | | 6/15/22 | | | | 501 | |
| | | | |
| | 1,315 | | | U.S. Treasury Note | | | 1.75 | | | | 10/31/20 | | | | 1,313 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 1.75 | | | | 1/31/23 | | | | 700 | |
| | | | |
| | 820 | | | U.S. Treasury Note | | | 1.75 | | | | 3/31/22 | | | | 820 | |
| | | | |
| | 750 | | | U.S. Treasury Note | | | 1.75 | | | | 6/30/24 | | | | 750 | |
| | | | |
| | 1,045 | | | U.S. Treasury Note | | | 1.75 | | | | 2/28/22 | | | | 1,045 | |
| | | | |
| | 1,140 | | | U.S. Treasury Note | | | 1.75 | | | | 12/31/20 | | | | 1,138 | |
| | | | |
| | 875 | | | U.S. Treasury Note | | | 1.88 | | | | 8/31/22 | | | | 879 | |
| | | | |
| | 925 | | | U.S. Treasury Note | | | 1.88 | | | | 2/28/22 | | | | 928 | |
| | | | |
| | 1,280 | | | U.S. Treasury Note | | | 1.88 | | | | 12/15/20 | | | | 1,280 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 1.88 | | | | 1/31/22 | | | | 1,003 | |
| | | | |
| | 930 | | | U.S. Treasury Note | | | 1.88 | | | | 7/31/22 | | | | 934 | |
| | | | |
| | 850 | | | U.S. Treasury Note | | | 1.88 | | | | 10/31/22 | | | | 854 | |
| | | | |
| | 500 | | | U.S. Treasury Note | | | 1.88 | | | | 6/30/26 | | | | 500 | |
| | | | |
| | 850 | | | U.S. Treasury Note | | | 1.88 | | | | 3/31/22 | | | | 853 | |
| | | | |
| | 910 | | | U.S. Treasury Note | | | 1.88 | | | | 9/30/22 | | | | 914 | |
| | | | |
| | 1,155 | | | U.S. Treasury Note | | | 1.88 | | | | 8/31/24 | | | | 1,160 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 1.88 | | | | 4/30/22 | | | | 1,004 | |
See accompanying notes to financial statements.
228
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 625 | | | U.S. Treasury Note | | | 1.88 | | | | 11/30/21 | | | $ | 627 | |
| | | | |
| | 1,765 | | | U.S. Treasury Note | | | 1.88 | | | | 5/31/22 | | | | 1,772 | |
| | | | |
| | 1,325 | | | U.S. Treasury Note | | | 2.00 | | | | 6/30/24 | | | | 1,339 | |
| | | | |
| | 670 | | | U.S. Treasury Note | | | 2.00 | | | | 1/15/21 | | | | 672 | |
| | | | |
| | 800 | | | U.S. Treasury Note | | | 2.00 | | | | 9/30/20 | | | | 801 | |
| | | | |
| | 1,360 | | | U.S. Treasury Note | | | 2.00 | | | | 4/30/24 | | | | 1,374 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 2.00 | | | | 10/31/21 | | | | 1,006 | |
| | | | |
| | 1,475 | | | U.S. Treasury Note | | | 2.00 | | | | 8/31/21 | | | | 1,482 | |
| | | | |
| | 900 | | | U.S. Treasury Note | | | 2.00 | | | | 10/31/22 | | | | 908 | |
| | | | |
| | 1,050 | | | U.S. Treasury Note | | | 2.00 | | | | 11/30/20 | | | | 1,052 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 2.00 | | | | 12/31/21 | | | | 1,006 | |
| | | | |
| | 1,538 | | | U.S. Treasury Note | | | 2.00 | | | | 2/15/23 | | | | 1,552 | |
| | | | |
| | 840 | | | U.S. Treasury Note | | | 2.00 | | | | 7/31/22 | | | | 847 | |
| | | | |
| | 2,140 | | | U.S. Treasury Note | | | 2.00 | | | | 11/15/26 | | | | 2,155 | |
| | | | |
| | 2,350 | | | U.S. Treasury Note | | | 2.00 | | | | 11/30/22 | | | | 2,371 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 2.00 | | | | 5/31/21 | | | | 703 | |
| | | | |
| | 1,110 | | | U.S. Treasury Note | | | 2.00 | | | | 11/15/21 | | | | 1,117 | |
| | | | |
| | 2,310 | | | U.S. Treasury Note | | | 2.00 | | | | 5/31/24 | | | | 2,336 | |
| | | | |
| | 938 | | | U.S. Treasury Note | | | 2.00 | | | | 2/15/22 | | | | 944 | |
| | | | |
| | 2,895 | | | U.S. Treasury Note | | | 2.00 | | | | 8/15/25 | | | | 2,920 | |
| | | | |
| | 2,755 | | | U.S. Treasury Note | | | 2.00 | | | | 2/15/25 | | | | 2,781 | |
| | | | |
| | 500 | | | U.S. Treasury Note | | | 2.00 | | | | 2/28/21 | | | | 501 | |
| | | | |
| | 1,115 | | | U.S. Treasury Note | | | 2.13 | | | | 7/31/24 | | | | 1,133 | |
| | | | |
| | 1,315 | | | U.S. Treasury Note | | | 2.13 | | | | 9/30/24 | | | | 1,337 | |
| | | | |
| | 1,245 | | | U.S. Treasury Note | | | 2.13 | | | | 11/30/24 | | | | 1,266 | |
| | | | |
| | 750 | | | U.S. Treasury Note | | | 2.13 | | | | 1/31/21 | | | | 753 | |
| | | | |
| | 1,085 | | | U.S. Treasury Note | | | 2.13 | | | | 9/30/21 | | | | 1,094 | |
| | | | |
| | 800 | | | U.S. Treasury Note | | | 2.13 | | | | 12/31/21 | | | | 807 | |
| | | | |
| | 895 | | | U.S. Treasury Note | | | 2.13 | | | | 2/29/24 | | | | 909 | |
| | | | |
| | 600 | | | U.S. Treasury Note | | | 2.13 | | | | 8/31/20 | | | | 601 | |
| | | | |
| | 1,400 | | | U.S. Treasury Note | | | 2.13 | | | | 11/30/23 | | �� | | 1,422 | |
| | | | |
| | 1,075 | | | U.S. Treasury Note | | | 2.13 | | | | 3/31/24 | | | | 1,092 | |
| | | | |
| | 2,680 | | | U.S. Treasury Note | | | 2.13 | | | | 12/31/22 | | | | 2,716 | |
| | | | |
| | 945 | | | U.S. Treasury Note | | | 2.13 | | | | 6/30/22 | | | | 956 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 2.13 | | | | 6/30/21 | | | | 1,007 | |
| | | | |
| | 2,660 | | | U.S. Treasury Note | | | 2.13 | | | | 5/15/25 | | | | 2,704 | |
| | | | |
| | 1,220 | | | U.S. Treasury Note | | | 2.13 | | | | 8/15/21 | | | | 1,229 | |
| | | | |
| | 1,845 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/27 | | | | 1,888 | |
| | | | |
| | 1,875 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/25 | | | | 1,919 | |
| | | | |
| | 785 | | | U.S. Treasury Note | | | 2.25 | | | | 7/31/21 | | | | 793 | |
| | | | |
| | 1,605 | | | U.S. Treasury Note | | | 2.25 | | | | 4/30/21 | | | | 1,618 | |
| | | | |
| | 1,900 | | | U.S. Treasury Note | | | 2.25 | | | | 8/15/27 | | | | 1,945 | |
| | | | |
| | 1,680 | | | U.S. Treasury Note | | | 2.25 | | | | 12/31/24 | | | | 1,719 | |
| | | | |
| | 950 | | | U.S. Treasury Note | | | 2.25 | | | | 12/31/23 | | | | 970 | |
| | | | |
| | 810 | | | U.S. Treasury Note | | | 2.25 | | | | 1/31/24 | | | | 827 | |
| | | | |
| | 2,900 | | | U.S. Treasury Note | | | 2.25 | | | | 2/15/27 | | | | 2,969 | |
| | | | |
| | 1,290 | | | U.S. Treasury Note | | | 2.25 | | | | 4/15/22 | | | | 1,308 | |
| | | | |
| | 1,100 | | | U.S. Treasury Note | | | 2.25 | | | | 3/31/26 | | | | 1,126 | |
| | | | |
| | 1,015 | | | U.S. Treasury Note | | | 2.25 | | | | 10/31/24 | | | | 1,038 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 2.25 | | | | 4/30/24 | | | | 716 | |
| | | | |
| | 1,555 | | | U.S. Treasury Note | | | 2.25 | | | | 3/31/21 | | | | 1,567 | |
| | | | |
| | 2,455 | | | U.S. Treasury Note | | | 2.25 | | | | 11/15/24 | | | | 2,511 | |
| | | | |
| | 735 | | | U.S. Treasury Note | | | 2.25 | | | | 2/15/21 | | | | 740 | |
| | | | |
| | 1,750 | | | U.S. Treasury Note | | | 2.38 | | | | 1/31/23 | | | | 1,789 | |
See accompanying notes to financial statements.
229
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 815 | | | U.S. Treasury Note | | | 2.38 | | | | 3/15/21 | | | $ | 823 | |
| | | | |
| | 2,560 | | | U.S. Treasury Note | | | 2.38 | | | | 5/15/27 | | | | 2,645 | |
| | | | |
| | 1,715 | | | U.S. Treasury Note | | | 2.38 | | | | 4/15/21 | | | | 1,732 | |
| | | | |
| | 1,060 | | | U.S. Treasury Note | | | 2.38 | | | | 5/15/29 | | | | 1,095 | |
| | | | |
| | 1,375 | | | U.S. Treasury Note | | | 2.38 | | | | 2/29/24 | | | | 1,413 | |
| | | | |
| | 1,305 | | | U.S. Treasury Note | | | 2.38 | | | | 3/15/22 | | | | 1,328 | |
| | | | |
| | 2,675 | | | U.S. Treasury Note | | | 2.38 | | | | 8/15/24 | | | | 2,751 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 2.38 | | | | 12/31/20 | | | | 705 | |
| | | | |
| | 1,090 | | | U.S. Treasury Note | | | 2.38 | | | | 4/30/26 | | | | 1,125 | |
| | | | |
| | 1,500 | | | U.S. Treasury Note | | | 2.50 | | | | 12/31/20 | | | | 1,514 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/25 | | | | 726 | |
| | | | |
| | 1,100 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/24 | | | | 1,136 | |
| | | | |
| | 1,320 | | | U.S. Treasury Note | | | 2.50 | | | | 1/31/21 | | | | 1,334 | |
| | | | |
| | 1,255 | | | U.S. Treasury Note | | | 2.50 | | | | 1/15/22 | | | | 1,278 | |
| | | | |
| | 990 | | | U.S. Treasury Note | | | 2.50 | | | | 3/31/23 | | | | 1,017 | |
| | | | |
| | 1,275 | | | U.S. Treasury Note | | | 2.50 | | | | 2/15/22 | | | | 1,300 | |
| | | | |
| | 1,370 | | | U.S. Treasury Note | | | 2.50 | | | | 8/15/23 | | | | 1,411 | |
| | | | |
| | 1,345 | | | U.S. Treasury Note | | | 2.50 | | | | 2/28/21 | | | | 1,360 | |
| | | | |
| | 850 | | | U.S. Treasury Note | | | 2.50 | | | | 2/28/26 | | | | 883 | |
| | | | |
| | 545 | | | U.S. Treasury Note | | | 2.50 | | | | 6/30/20 | | | | 548 | |
| | | | |
| | 2,105 | | | U.S. Treasury Note | | | 2.50 | | | | 5/15/24 | | | | 2,176 | |
| | | | |
| | 1,152 | | | U.S. Treasury Note | | | 2.63 | | | | 8/15/20 | | | | 1,161 | |
| | | | |
| | 2,353 | | | U.S. Treasury Note | | | 2.63 | | | | 11/15/20 | | | | 2,377 | |
| | | | |
| | 700 | | | U.S. Treasury Note | | | 2.63 | | | | 12/31/23 | | | | 726 | |
| | | | |
| | 205 | | | U.S. Treasury Note | | | 2.63 | | | | 12/31/25 | | | | 215 | |
| | | | |
| | 1,055 | | | U.S. Treasury Note | | | 2.63 | | | | 1/31/26 | | | | 1,104 | |
| | | | |
| | 1,260 | | | U.S. Treasury Note | | | 2.63 | | | | 12/15/21 | | | | 1,287 | |
| | | | |
| | 2,220 | | | U.S. Treasury Note | | | 2.63 | | | | 2/15/29 | | | | 2,340 | |
| | | | |
| | 1,050 | | | U.S. Treasury Note | | | 2.63 | | | | 8/31/20 | | | | 1,059 | |
| | | | |
| | 935 | | | U.S. Treasury Note | | | 2.63 | | | | 6/15/21 | | | | 950 | |
| | | | |
| | 960 | | | U.S. Treasury Note | | | 2.63 | | | | 7/15/21 | | | | 976 | |
| | | | |
| | 1,020 | | | U.S. Treasury Note | | | 2.63 | | | | 7/31/20 | | | | 1,027 | |
| | | | |
| | 750 | | | U.S. Treasury Note | | | 2.63 | | | | 3/31/25 | | | | 783 | |
| | | | |
| | 885 | | | U.S. Treasury Note | | | 2.63 | | | | 5/15/21 | | | | 899 | |
| | | | |
| | 985 | | | U.S. Treasury Note | | | 2.63 | | | | 2/28/23 | | | | 1,016 | |
| | | | |
| | 1,500 | | | U.S. Treasury Note | | | 2.63 | | | | 6/30/23 | | | | 1,551 | |
| | | | |
| | 1,050 | | | U.S. Treasury Note | | | 2.75 | | | | 7/31/23 | | | | 1,091 | |
| | | | |
| | 1,010 | | | U.S. Treasury Note | | | 2.75 | | | | 9/15/21 | | | | 1,032 | |
| | | | |
| | 980 | | | U.S. Treasury Note | | | 2.75 | | | | 4/30/23 | | | | 1,016 | |
| | | | |
| | 1,250 | | | U.S. Treasury Note | | | 2.75 | | | | 9/30/20 | | | | 1,263 | |
| | | | |
| | 2,135 | | | U.S. Treasury Note | | | 2.75 | | | | 5/31/23 | | | | 2,216 | |
| | | | |
| | 910 | | | U.S. Treasury Note | | | 2.75 | | | | 8/31/25 | | | | 958 | |
| | | | |
| | 1,320 | | | U.S. Treasury Note | | | 2.75 | | | | 11/30/20 | | | | 1,336 | |
| | | | |
| | 2,120 | | | U.S. Treasury Note | | | 2.75 | | | | 2/15/28 | | | | 2,253 | |
| | | | |
| | 2,165 | | | U.S. Treasury Note | | | 2.75 | | | | 2/15/24 | | | | 2,260 | |
| | | | |
| | 990 | | | U.S. Treasury Note | | | 2.75 | | | | 8/15/21 | | | | 1,010 | |
| | | | |
| | 1,075 | | | U.S. Treasury Note | | | 2.75 | | | | 8/31/23 | | | | 1,118 | |
| | | | |
| | 875 | | | U.S. Treasury Note | | | 2.75 | | | | 6/30/25 | | | | 920 | |
| | | | |
| | 1,897 | | | U.S. Treasury Note | | | 2.75 | | | | 11/15/23 | | | | 1,976 | |
| | | | |
| | 885 | | | U.S. Treasury Note | | | 2.75 | | | | 2/28/25 | | | | 929 | |
| | | | |
| | 1,000 | | | U.S. Treasury Note | | | 2.88 | | | | 11/30/23 | | | | 1,048 | |
| | | | |
| | 815 | | | U.S. Treasury Note | | | 2.88 | | | | 4/30/25 | | | | 862 | |
| | | | |
| | 1,085 | | | U.S. Treasury Note | | | 2.88 | | | | 11/30/25 | | | | 1,152 | |
| | | | |
| | 1,500 | | | U.S. Treasury Note | | | 2.88 | | | | 9/30/23 | | | | 1,568 | |
See accompanying notes to financial statements.
230
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 1,105 | | | U.S. Treasury Note | | | 2.88 | | | | 10/31/23 | | | $ | 1,156 | |
| | | | |
| | 1,300 | | | U.S. Treasury Note | | | 2.88 | | | | 10/31/20 | | | | 1,317 | |
| | | | |
| | 1,020 | | | U.S. Treasury Note | | | 2.88 | | | | 10/15/21 | | | | 1,046 | |
| | | | |
| | 1,920 | | | U.S. Treasury Note | | | 2.88 | | | | 5/15/28 | | | | 2,060 | |
| | | | |
| | 1,005 | | | U.S. Treasury Note | | | 2.88 | | | | 5/31/25 | | | | 1,064 | |
| | | | |
| | 2,905 | | | U.S. Treasury Note | | | 2.88 | | | | 8/15/28 | | | | 3,119 | |
| | | | |
| | 1,255 | | | U.S. Treasury Note | | | 2.88 | | | | 11/15/21 | | | | 1,288 | |
| | | | |
| | 875 | | | U.S. Treasury Note | | | 2.88 | | | | 7/31/25 | | | | 927 | |
| | | | |
| | 880 | | | U.S. Treasury Note | | | 3.00 | | | | 10/31/25 | | | | 940 | |
| | | | |
| | 895 | | | U.S. Treasury Note | | | 3.00 | | | | 9/30/25 | | | | 956 | |
| | | | |
| | 2,880 | | | U.S. Treasury Note | | | 3.13 | | | | 11/15/28 | | | | 3,156 | |
| | | | |
| | 1,200 | | | U.S. Treasury Note | | | 3.13 | | | | 5/15/21 | | | | 1,229 | |
| | | | |
| | 1,632 | | | U.S. Treasury Note | | | 3.63 | | | | 2/15/21 | | | | 1,678 | |
| | | | |
| | 400 | | | U.S. Treasury Note | | | 5.50 | | | | 8/15/28 | | | | 517 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | | | | 293,900 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Yankee Dollar — 0.04% | | | | | | | | | | | | |
| | | | |
| | 115 | | | AID-Israel (Sovereign Bond) | | | 5.50 | | | | 9/18/23 | | | | 132 | |
| | | | | | | | | | | | | | | | |
| | | | Total Yankee Dollar | | | | | | | | | | | 132 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Company — 0.18% | | | | | | | | | | | | |
| | | | |
| | 550,764 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (a) | | | | | | | 551 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Company | | | | | | | | | | | 551 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $292,481) — 99.40% | | | | | | | | | | | 303,710 | |
| | | | Other assets in excess of liabilities — 0.60% | | | | | | | | | | | 1,821 | |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 305,531 | |
| | | | | | | | | | | | | | | | |
| (a) | The rate disclosed is the rate in effect on June 30, 2019. |
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The U.S. Government Fixed Income Securities Portfolio | | Mellon
Investments
Corporation* | | | HC Capital
Solutions | | | Total | |
U.S. Government Agency Securities | | | 2.99 | % | | | — | | | | 2.99 | % |
U.S. Treasury Obligations | | | 96.19 | % | | | — | | | | 96.19 | % |
Yankee Dollar | | | 0.04 | % | | | — | | | | 0.04 | % |
Investment Company | | | — | | | | 0.18 | % | | | 0.18 | % |
Other Assets (Liabilities) | | | 0.60 | % | | | 0.00 | % | | | 0.60 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 99.82 | % | | | 0.18 | % | | | 100.00 | % |
| | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
See accompanying notes to financial statements.
231
HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity Date | | | Value
(000) | |
| | | | |
| | | | U.S. Treasury Obligations — 95.54% | | | | | | | | | | | | |
| | | | |
| $ | 4,075 | | | U.S. Treasury Inflation Index Bond | | | 0.63 | | | | 2/15/43 | | | $ | 3,950 | |
| | | | |
| | 9,778 | | | U.S. Treasury Inflation Index Bond | | | 0.75 | | | | 7/15/28 | | | | 10,191 | |
| | | | |
| | 6,852 | | | U.S. Treasury Inflation Index Bond | | | 0.75 | | | | 2/15/45 | | | | 6,777 | |
| | | | |
| | 5,509 | | | U.S. Treasury Inflation Index Bond | | | 0.75 | | | | 2/15/42 | | | | 5,530 | |
| | | | |
| | 4,937 | | | U.S. Treasury Inflation Index Bond | | | 0.88 | | | | 2/15/47 | | | | 5,032 | |
| | | | |
| | 2,229 | | | U.S. Treasury Inflation Index Bond | | | 1.00 | | | | 2/15/49 | | | | 2,357 | |
| | | | |
| | 4,836 | | | U.S. Treasury Inflation Index Bond | | | 1.00 | | | | 2/15/48 | | | | 5,087 | |
| | | | |
| | 5,029 | | | U.S. Treasury Inflation Index Bond | | | 1.00 | | | | 2/15/46 | | | | 5,270 | |
| | | | |
| | 6,145 | | | U.S. Treasury Inflation Index Bond | | | 1.38 | | | | 2/15/44 | | | | 6,975 | |
| | | | |
| | 4,674 | | | U.S. Treasury Inflation Index Bond | | | 1.75 | | | | 1/15/28 | | | | 5,242 | |
| | | | |
| | 5,806 | | | U.S. Treasury Inflation Index Bond | | | 2.00 | | | | 1/15/26 | | | | 6,463 | |
| | | | |
| | 3,138 | | | U.S. Treasury Inflation Index Bond | | | 2.13 | | | | 2/15/41 | | | | 4,042 | |
| | | | |
| | 2,464 | | | U.S. Treasury Inflation Index Bond | | | 2.13 | | | | 2/15/40 | | | | 3,149 | |
| | | | |
| | 4,672 | | | U.S. Treasury Inflation Index Bond | | | 2.38 | | | | 1/15/27 | | | | 5,396 | |
| | | | |
| | 7,969 | | | U.S. Treasury Inflation Index Bond | | | 2.38 | | | | 1/15/25 | | | | 8,904 | |
| | | | |
| | 4,511 | | | U.S. Treasury Inflation Index Bond | | | 2.50 | | | | 1/15/29 | | | | 5,427 | |
| | | | |
| | 1,819 | | | U.S. Treasury Inflation Index Bond | | | 3.38 | | | | 4/15/32 | | | | 2,494 | |
| | | | |
| | 3,935 | | | U.S. Treasury Inflation Index Bond | | | 3.63 | | | | 4/15/28 | | | | 5,053 | |
| | | | |
| | 4,792 | | | U.S. Treasury Inflation Index Bond | | | 3.88 | | | | 4/15/29 | | | | 6,416 | |
| | | | |
| | 12,018 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 1/15/22 | | | | 11,941 | |
| | | | |
| | 12,395 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 7/15/22 | | | | 12,355 | |
| | | | |
| | 12,454 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 1/15/23 | | | | 12,380 | |
| | | | |
| | 12,687 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 4/15/22 | | | | 12,589 | |
| | | | |
| | 12,107 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 7/15/24 | | | | 12,086 | |
| | | | |
| | 10,242 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 7/15/26 | | | | 10,170 | |
| | | | |
| | 13,020 | | | U.S. Treasury Inflation Index Note | | | 0.13 | | | | 4/15/21 | | | | 12,899 | |
| | | | |
| | 12,137 | | | U.S. Treasury Inflation Index Note | | | 0.25 | | | | 1/15/25 | | | | 12,154 | |
| | | | |
| | 12,353 | | | U.S. Treasury Inflation Index Note | | | 0.38 | | | | 7/15/23 | | | | 12,453 | |
| | | | |
| | 10,159 | | | U.S. Treasury Inflation Index Note | | | 0.38 | | | | 1/15/27 | | | | 10,226 | |
| | | | |
| | 10,039 | | | U.S. Treasury Inflation Index Note | | | 0.38 | | | | 7/15/27 | | | | 10,133 | |
| | | | |
| | 12,125 | | | U.S. Treasury Inflation Index Note | | | 0.38 | | | | 7/15/25 | | | | 12,259 | |
| | | | |
| | 8,896 | | | U.S. Treasury Inflation Index Note | | | 0.50 | | | | 4/15/24 | | | | 9,006 | |
| | | | |
| | 9,957 | | | U.S. Treasury Inflation Index Note | | | 0.50 | | | | 1/15/28 | | | | 10,122 | |
| | | | |
| | 10,920 | | | U.S. Treasury Inflation Index Note | | | 0.63 | | | | 1/15/26 | | | | 11,183 | |
| | | | |
| | 12,422 | | | U.S. Treasury Inflation Index Note | | | 0.63 | | | | 4/15/23 | | | | 12,566 | |
| | | | |
| | 10,889 | | | U.S. Treasury Inflation Index Note | | | 0.63 | | | | 7/15/21 | | | | 10,956 | |
| | | | |
| | 12,317 | | | U.S. Treasury Inflation Index Note | | | 0.63 | | | | 1/15/24 | | | | 12,530 | |
| | | | |
| | 9,721 | | | U.S. Treasury Inflation Index Note | | | 0.88 | | | | 1/15/29 | | | | 10,236 | |
| | | | |
| | 10,255 | | | U.S. Treasury Inflation Index Note | | | 1.13 | | | | 1/15/21 | | | | 10,332 | |
| | | | |
| | 8,920 | | | U.S. Treasury Inflation Index Note | | | 1.25 | | | | 7/15/20 | | | | 8,976 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Treasury Obligations | | | | | | | | | | | 341,307 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | Investment Company — 4.30% | | | | | | | | | | | | |
| | | | |
| | 15,364,952 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (a) | | | | | | | 15,365 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Company | | | | | | | | | | | 15,365 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments
(cost $348,116) — 99.84% | | | | | | | | | | | 356,672 | |
| | | | Other assets in excess of liabilities — 0.16% | | | | | | | | | | | 557 | |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 357,229 | |
| | | | | | | | | | | | | | | | |
| (a) | The rate disclosed is the rate in effect on June 30, 2019. |
See accompanying notes to financial statements.
232
HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The Inflation Protected Securities Portfolio | | Mellon
Investments
Corporation* | | | HC Capital
Solutions | | | Total | |
U.S. Treasury Obligations | | | 95.54 | % | | | — | | | | 95.54 | % |
| | | |
Investment Company | | | 0.01 | % | | | 4.29 | % | | | 4.30 | % |
| | | |
Other Assets (Liabilities) | | | 0.69 | % | | | (0.53 | )% | | | 0.16 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 96.24 | % | | | 3.76 | % | | | 100.00 | % |
| | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
233
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds — 80.46% | | | | | | | | | | | | |
| | | | |
| $ | 2,679 | | | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | | | 3.75 | | | | 11/30/26 | | | $ | 2,886 | |
| | | | |
| | 989 | | | AbbVie, Inc. (Biotechnology) | | | 4.40 | | | | 11/6/42 | | | | 970 | |
| | | | |
| | 2,205 | | | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | | | 4.50 | | | | 5/14/35 | | | | 2,261 | |
| | | | |
| | 530 | | | Alabama Power Co., Series B (Electric Utilities), Callable 6/1/47 @ 100.00 | | | 3.70 | | | | 12/1/47 | | | | 538 | |
| | | | |
| | 155 | | | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | | | 4.15 | | | | 8/15/44 | | | | 167 | |
| | | | |
| | 3,375 | | | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | | | 2.50 | | | | 8/1/22 | | | | 3,389 | |
| | | | |
| | 180 | | | American Express Co. (Consumer Finance), Callable 1/27/23 @ 100.00 | | | 3.40 | | | | 2/27/23 | | | | 186 | |
| | | | |
| | 3,990 | | | Ameriprise Financial, Inc. (Capital Markets) | | | 3.70 | | | | 10/15/24 | | | | 4,226 | |
| | | | |
| | 540 | | | Ameriprise Financial, Inc. (Capital Markets) | | | 4.00 | | | | 10/15/23 | | | | 575 | |
| | | | |
| | 1,715 | | | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | | | 2.65 | | | | 5/11/22 | | | | 1,727 | |
| | | | |
| | 2,235 | | | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | | | 3.13 | | | | 5/1/25 | | | | 2,286 | |
| | | | |
| | 275 | | | Amgen, Inc. (Biotechnology), Callable 5/15/41 @ 100.00 | | | 5.15 | | | | 11/15/41 | | | | 315 | |
| | | | |
| | 3,163 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment),
Callable 9/5/26 @ 100.00 | | | 3.50 | | | | 12/5/26 | | | | 3,233 | |
| | | | |
| | 1,610 | | | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment),
Callable 9/15/25 @ 100.00 | | | 3.90 | | | | 12/15/25 | | | | 1,701 | |
| | | | |
| | 1,066 | | | Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages),
Callable 8/1/35 @ 100.00 | | | 4.70 | | | | 2/1/36 | | | | 1,163 | |
| | | | |
| | 1,910 | | | Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages),
Callable 8/1/45 @ 100.00 | | | 4.90 | | | | 2/1/46 | | | | 2,122 | |
| | | | |
| | 1,850 | | | Anheuser-Busch InBev N.V. (Beverages), Callable 8/1/35 @ 100.00 | | | 4.70 | | | | 2/1/36 | | | | 2,019 | |
| | | | |
| | 1,730 | | | Anthem, Inc. (Health Care Providers & Services) | | | 3.13 | | | | 5/15/22 | | | | 1,757 | |
| | | | |
| | 485 | | | Anthem, Inc. (Health Care Providers & Services) | | | 3.30 | | | | 1/15/23 | | | | 499 | |
| | | | |
| | 1,245 | | | Anthem, Inc. (Health Care Providers & Services), Callable 9/1/27 @ 100.00 | | | 3.65 | | | | 12/1/27 | | | | 1,291 | |
| | | | |
| | 790 | | | Anthem, Inc. (Health Care Providers & Services) | | | 4.63 | | | | 5/15/42 | | | | 859 | |
| | | | |
| | 3,020 | | | Apple, Inc. (Technology Hardware, Storage & Peripherals), Callable 8/23/45 @ 100.00 | | | 4.65 | | | | 2/23/46 | | | | 3,573 | |
| | | | |
| | 750 | | | Archer-Daniels-Midland Co., Class — C (Food Products) | | | 4.02 | | | | 4/16/43 | | | | 796 | |
| | | | |
| | 6,145 | | | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | | | 4.45 | | | | 4/1/24 | | | | 6,610 | |
| | | | |
| | 1,730 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 5.35 | | | | 9/1/40 | | | | 1,941 | |
| | | | |
| | 585 | | | AT&T, Inc. (Diversified Telecommunication Services) | | | 5.55 | | | | 8/15/41 | | | | 676 | |
| | | | |
| | 265 | | | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | | | 4.13 | | | | 10/15/44 | | | | 289 | |
| | | | |
| | 355 | | | Atmos Energy Corp. (Gas Utilities), Callable 7/15/42 @ 100.00 | | | 4.15 | | | | 1/15/43 | | | | 384 | |
| | | | |
| | 9,553 | | | Bank of America Corp., MTN (Banks) | | | 3.88 | | | | 8/1/25 | | | | 10,211 | |
| | | | |
| | 1,358 | | | Bank One Corp. (Banks) | | | 8.00 | | | | 4/29/27 | | | | 1,795 | |
| | | | |
| | 1,875 | | | Berkshire Hathaway, Inc. (Multi-Utilities), Callable 8/1/44 @ 100.00 | | | 4.50 | | | | 2/1/45 | | | | 2,097 | |
| | | | |
| | 823 | | | Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 6.80 | | | | 11/15/26 | | | | 1,032 | |
| | | | |
| | 300 | | | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | | | 3.00 | | | | 9/25/22 | | | | 301 | |
| | | | |
| | 1,510 | | | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | | | 3.25 | | | | 8/15/26 | | | | 1,462 | |
| | | | |
| | 1,350 | | | Capital One Finance Corp. (Consumer Finance), Callable 9/30/24 @ 100.00 | | | 3.30 | | | | 10/30/24 | | | | 1,383 | |
| | | | |
| | 4,800 | | | Capital One Financial Corp. (Consumer Finance) | | | 3.50 | | | | 6/15/23 | | | | 4,970 | |
| | | | |
| | 600 | | | Cisco Systems, Inc. (Communications Equipment) | | | 5.50 | | | | 1/15/40 | | | | 791 | |
| | | | |
| | 1,500 | | | Citibank NA, Series BKNT (Banks), Callable 12/23/23 @ 100.00 | | | 3.65 | | | | 1/23/24 | | | | 1,576 | |
| | | | |
| | 7,220 | | | Citigroup, Inc. (Banks) | | | 3.40 | | | | 5/1/26 | | | | 7,439 | |
| | | | |
| | 835 | | | Comcast Corp. (Media), Callable 9/1/37 @ 100.00 | | | 3.90 | | | | 3/1/38 | | | | 879 | |
| | | | |
| | 50 | | | Comcast Corp. (Media) | | | 4.65 | | | | 7/15/42 | | | | 57 | |
| | | | |
| | 2,185 | | | Comcast Corp. (Media) | | | 4.75 | | | | 3/1/44 | | | | 2,537 | |
| | | | |
| | 2,220 | | | ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 6.50 | | | | 2/1/39 | | | | 3,117 | |
| | | | |
| | 175 | | | Consolidated Edison Company of New York, Inc., Series2008-B (Multi-Utilities) | | | 6.75 | | | | 4/1/38 | | | | 247 | |
| | | | |
| | 765 | | | Constellation Brands, Inc. (Beverages) | | | 4.75 | | | | 12/1/25 | | | | 844 | |
| | | | |
| | 1,650 | | | Constellation Brands, Inc. (Beverages) | | | 4.75 | | | | 11/15/24 | | | | 1,816 | |
| | | | |
| | 2,315 | | | CSX Corp. (Road & Rail) | | | 6.22 | | | | 4/30/40 | | | | 3,011 | |
| | | | |
| | 699 | | | CVS Health Corp. (Health Care Providers & Services), Callable 9/1/22 @ 100.00 | | | 2.75 | | | | 12/1/22 | | | | 701 | |
| | | | |
| | 1,550 | | | CVS Health Corp. (Health Care Providers & Services), Callable 2/9/23 @ 100.00 | | | 3.70 | | | | 3/9/23 | | | | 1,599 | |
| | | | |
| | 6,630 | | | CVS Health Corp. (Health Care Providers & Services), Callable 12/25/27 @ 100.00 | | | 4.30 | | | | 3/25/28 | | | | 6,972 | |
| | | | |
| | 980 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 3.25 | | | | 5/15/22 | | | | 1,015 | |
See accompanying notes to financial statements.
234
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 925 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 4.00 | | | | 7/15/21 | | | $ | 963 | |
| | | | |
| | 1,765 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | | | 5.60 | | | | 7/15/41 | | | | 2,095 | |
| | | | |
| | 315 | | | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 9/15/25 @ 100.00 | | | 5.85 | | | | 12/15/25 | | | | 374 | |
| | | | |
| | 2,445 | | | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | | | 2.75 | | | | 2/1/23 | | | | 2,440 | |
| | | | |
| | 1,830 | | | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | | | 3.60 | | | | 12/15/24 | | | | 1,900 | |
| | | | |
| | 200 | | | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | | | 4.25 | | | | 12/15/41 | | | | 219 | |
| | | | |
| | 635 | | | Duke Energy Corp. (Electric Utilities), Callable 6/1/26 @ 100.00 | | | 2.65 | | | | 9/1/26 | | | | 628 | |
| | | | |
| | 965 | | | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | | | 3.75 | | | | 4/15/24 | | | | 1,017 | |
| | | | |
| | 660 | | | Duke Energy Progress LLC (Electric Utilities), Callable 2/15/45 @ 100.00 | | | 4.20 | | | | 8/15/45 | | | | 721 | |
| | | | |
| | 1,495 | | | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels), Callable 3/15/28 @ 100.00 | | | 4.95 | | | | 6/15/28 | | | | 1,628 | |
| | | | |
| | 1,000 | | | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels),
Callable 11/15/24 @ 100.00 | | | 3.75 | | | | 2/15/25 | | | | 1,055 | |
| | | | |
| | 2,782 | | | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | | | 4.85 | | | | 3/15/44 | | | | 3,070 | |
| | | | |
| | 995 | | | FedEx Corp. (Air Freight & Logistics) | | | 4.90 | | | | 1/15/34 | | | | 1,156 | |
| | | | |
| | 705 | | | Fiserv, Inc. (IT Services), Callable 4/1/29 @ 100.00 | | | 3.50 | | | | 7/1/29 | | | | 722 | |
| | | | |
| | 1,195 | | | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | | | 3.85 | | | | 6/1/25 | | | | 1,262 | |
| | | | |
| | 225 | | | Fiserv, Inc. (IT Services), Callable 1/1/49 @ 100.00 | | | 4.40 | | | | 7/1/49 | | | | 234 | |
| | | | |
| | 3,220 | | | General Motors Financial Co. (Consumer Finance), Callable 2/1/21 @ 100.00 | | | 4.20 | | | | 3/1/21 | | | | 3,288 | |
| | | | |
| | 1,225 | | | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | | | 4.50 | | | | 2/1/45 | | | | 1,341 | |
| | | | |
| | 393 | | | GlaxoSmithKline PLC (Diversified Financial Services) | | | 6.38 | | | | 5/15/38 | | | | 546 | |
| | | | |
| | 3,640 | | | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | | | 3.50 | | | | 1/23/25 | | | | 3,749 | |
| | | | |
| | 1,000 | | | Goldman Sachs Group, Inc. (Capital Markets) | | | 5.25 | | | | 7/27/21 | | | | 1,056 | |
| | | | |
| | 1,135 | | | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | | | 6.00 | | | | 11/15/41 | | | | 1,324 | |
| | | | |
| | 480 | | | Interpublic Group of Companies, Inc. (Media) | | | 4.00 | | | | 3/15/22 | | | | 496 | |
| | | | |
| | 2,130 | | | Interpublic Group of Companies, Inc. (Media) | | | 4.20 | | | | 4/15/24 | | | | 2,292 | |
| | | | |
| | 2,870 | | | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | | | 3.13 | | | | 1/23/25 | | | | 2,950 | |
| | | | |
| | 2,353 | | | JPMorgan Chase & Co. (Banks), Callable 4/15/25 @ 100.00 | | | 3.90 | | | | 7/15/25 | | | | 2,512 | |
| | | | |
| | 1,500 | | | JPMorgan Chase & Co. (Banks) | | | 4.50 | | | | 1/24/22 | | | | 1,580 | |
| | | | |
| | 1,940 | | | Lincoln National Corp. (Insurance) | | | 7.00 | | | | 6/15/40 | | | | 2,668 | |
| | | | |
| | 1,305 | | | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | | | 4.50 | | | | 5/15/36 | | | | 1,496 | |
| | | | |
| | 295 | | | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | | | 4.88 | | | | 3/15/44 | | | | 314 | |
| | | | |
| | 490 | | | Martin Marietta Materials, Inc. (Construction Materials), Callable 3/1/27 @ 100.00 | | | 3.45 | | | | 6/1/27 | | | | 486 | |
| | | | |
| | 1,380 | | | Martin Marietta Materials, Inc. (Construction Materials), Callable 4/2/24 @ 100.00 | | | 4.25 | | | | 7/2/24 | | | | 1,465 | |
| | | | |
| | 1,200 | | | Medtronic, Inc. (Health Care Equipment & Supplies) | | | 4.38 | | | | 3/15/35 | | | | 1,378 | |
| | | | |
| | 745 | | | MetLife, Inc. (Insurance) | | | 5.70 | | | | 6/15/35 | | | | 950 | |
| | | | |
| | 3,270 | | | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | | | 4.50 | | | | 2/6/57 | | | | 3,962 | |
| | | | |
| | 2,179 | | | MidAmerican Energy Holdings Co. (Multi-Utilities) | | | 6.13 | | | | 4/1/36 | | | | 2,901 | |
| | | | |
| | 2,695 | | | Morgan Stanley (Capital Markets) | | | 2.63 | | | | 11/17/21 | | | | 2,712 | |
| | | | |
| | 3,940 | | | Morgan Stanley (Capital Markets) | | | 3.13 | | | | 1/23/23 | | | | 4,027 | |
| | | | |
| | 2,635 | | | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services),
Callable 12/7/23 @ 100.00 | | | 2.95 | | | | 2/7/24 | | | | 2,699 | |
| | | | |
| | 2,625 | | | Nucor Corp. (Metals & Mining), Callable 6/15/22 @ 100.00 | | | 4.13 | | | | 9/15/22 | | | | 2,760 | |
| | | | |
| | 1,074 | | | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | | | 5.20 | | | | 8/1/43 | | | | 1,263 | |
| | | | |
| | 2,132 | | | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | | | 3.20 | | | | 9/16/26 | | | | 2,177 | |
| | | | |
| | 380 | | | Oracle Corp. (Software), Callable 11/15/44 @ 100.00 | | | 4.13 | | | | 5/15/45 | | | | 411 | |
| | | | |
| | 1,535 | | | Oracle Corp. (Software) | | | 5.38 | | | | 7/15/40 | | | | 1,947 | |
| | | | |
| | 1,050 | | | Pfizer, Inc. (Pharmaceuticals), Callable 3/15/38 @ 100.00 | | | 4.10 | | | | 9/15/38 | | | | 1,156 | |
| | | | |
| | 250 | | | Philip Morris International, Inc. (Tobacco) | | | 3.25 | | | | 11/10/24 | | | | 258 | |
| | | | |
| | 1,135 | | | Philip Morris International, Inc. (Tobacco) | | | 4.50 | | | | 3/20/42 | | | | 1,216 | |
| | | | |
| | 950 | | | Principal Financial Group, Inc. (Insurance), Callable 2/15/25 @ 100.00 | | | 3.40 | | | | 5/15/25 | | | | 987 | |
| | | | |
| | 228 | | | Procter & Gamble Co. (The) (Household Products) | | | 9.36 | | | | 1/1/21 | | | | 245 | |
| | | | |
| | 1,457 | | | Progress Energy, Inc. (Electric Utilities) | | | 6.00 | | | | 12/1/39 | | | | 1,815 | |
| | | | |
| | 440 | | | Prudential Financial, Inc., MTN (Insurance), Callable 12/27/27 @ 100.00 | | | 3.88 | | | | 3/27/28 | | | | 479 | |
| | | | |
| | 152 | | | Prudential Financial, Inc. (Insurance) | | | 6.63 | | | | 6/21/40 | | | | 212 | |
See accompanying notes to financial statements.
235
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Corporate Bonds (continued) | | | | | | | | | | | | |
| | | | |
| $ | 265 | | | Public Service Electric & Gas Co. (Electric Utilities), Callable 3/1/42 @ 100.00 | | | 3.65 | | | | 9/1/42 | | | $ | 270 | |
| | | | |
| | 1,185 | | | RELX Capital, Inc. (Professional Services), Callable 7/15/22 @ 100.00 | | | 3.13 | | | | 10/15/22 | | | | 1,206 | |
| | | | |
| | 2,005 | | | RELX Capital, Inc. (Professional Services), Callable 2/16/23 @ 100.00 | | | 3.50 | | | | 3/16/23 | | | | 2,067 | |
| | | | |
| | 785 | | | Rockwell Collins, Inc. (Aerospace & Defense), Callable 1/15/24 @ 100.00 | | | 3.20 | | | | 3/15/24 | | | | 804 | |
| | | | |
| | 1,244 | | | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | | | 3.50 | | | | 3/15/27 | | | | 1,298 | |
| | | | |
| | 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 | | | | 2,049 | |
| | | | |
| | 1,405 | | | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | | | 2.80 | | | | 3/1/22 | | | | 1,417 | |
| | | | |
| | 735 | | | Ryder System, Inc. (Road & Rail), Callable 10/15/21 @ 100.00 | | | 3.45 | | | | 11/15/21 | | | | 750 | |
| | | | |
| | 385 | | | Southern Co. Gas Capital Corp. (Electric Utilities), Callable 8/1/23 @ 100.00 | | | 2.45 | | | | 10/1/23 | | | | 382 | |
| | | | |
| | 330 | | | Southern Co. Gas Capital Corp. (Electric Utilities), Callable 3/15/26 @ 100.00 | | | 3.25 | | | | 6/15/26 | | | | 332 | |
| | | | |
| | 695 | | | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | | | 3.00 | | | | 11/15/26 | | | | 694 | |
| | | | |
| | 966 | | | Southwest Airlines Co., Series2017-1 (Airlines) | | | 6.15 | | | | 2/1/24 | | | | 1,019 | |
| | | | |
| | 3,371 | | | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/22 @ 100.00 | | | 3.45 | | | | 1/15/23 | | | | 3,424 | |
| | | | |
| | 1,625 | | | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/42 @ 100.00 | | | 4.95 | | | | 1/15/43 | | | | 1,599 | |
| | | | |
| | 1,101 | | | SunTrust Banks, Inc. (Banks), Callable 12/27/21 @ 100.00 | | | 2.70 | | | | 1/27/22 | | | | 1,109 | |
| | | | |
| | 1,850 | | | TCI Communications, Inc. (Media) | | | 7.88 | | | | 2/15/26 | | | | 2,392 | |
| | | | |
| | 1,290 | | | The Home Depot, Inc. (Specialty Retail), Callable 6/6/48 @ 100.00 | | | 4.50 | | | | 12/6/48 | | | | 1,511 | |
| | | | |
| | 1,485 | | | The Home Depot, Inc. (Specialty Retail), Callable 3/15/40 @ 100.00 | | | 5.40 | | | | 9/15/40 | | | | 1,892 | |
| | | | |
| | 2,200 | | | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | | | 3.13 | | | | 6/1/24 | | | | 2,248 | |
| | | | |
| | 375 | | | The Sherwin-Williams Co. (Chemicals), Callable 5/1/25 @ 100.00 | | | 3.45 | | | | 8/1/25 | | | | 387 | |
| | | | |
| | 1,671 | | | The Travelers Companies, Inc. (Insurance) | | | 6.25 | | | | 6/15/37 | | | | 2,286 | |
| | | | |
| | 840 | | | The Walt Disney Co. (Entertainment), Callable 3/15/44 @ 100.00 | | | 4.75 | | | | 9/15/44 | | | | 1,019 | |
| | | | |
| | 963 | | | The Walt Disney Co. (Entertainment) | | | 6.20 | | | | 12/15/34 | | | | 1,297 | |
| | | | |
| | 2,495 | | | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 11/1/23 @ 100.00 | | | 4.15 | | | | 2/1/24 | | | | 2,667 | |
| | | | |
| | 1,285 | | | Toyota Motor Credit Corp., MTN (Consumer Finance) | | | 2.90 | | | | 4/17/24 | | | | 1,314 | |
| | | | |
| | 1,500 | | | Union Pacific Corp. (Road & Rail), Callable 6/10/28 @ 100.00 | | | 3.95 | | | | 9/10/28 | | | | 1,641 | |
| | | | |
| | 335 | | | United Parcel Service, Inc. (Air Freight & Logistics), Callable 9/15/48 @ 100.00 | | | 4.25 | | | | 3/15/49 | | | | 365 | |
| | | | |
| | 674 | | | United Technologies Corp. (Aerospace & Defense) | | | 4.50 | | | | 6/1/42 | | | | 759 | |
| | | | |
| | 810 | | | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 5/15/41 @ 100.00 | | | 4.63 | | | | 11/15/41 | | | | 918 | |
| | | | |
| | 835 | | | UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 4.75 | | | | 7/15/45 | | | | 989 | |
| | | | |
| | 865 | | | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 6.63 | | | | 6/15/37 | | | | 1,094 | |
| | | | |
| | 270 | | | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | | | 3.25 | | | | 8/15/22 | | | | 276 | |
| | | | |
| | 1,300 | | | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | | | 3.50 | | | | 2/1/25 | | | | 1,338 | |
| | | | |
| | 5,849 | | | Verizon Communications, Inc. (Diversified Telecommunication Services),
Callable 9/3/29 @ 100.00 | | | 4.02 | | | | 12/3/29 | | | | 6,325 | |
| | | | |
| | 2,022 | | | Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 5.01 | | | | 8/21/54 | | | | 2,413 | |
| | | | |
| | 820 | | | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | | | 4.65 | | | | 8/15/43 | | | | 936 | |
| | | | |
| | 501 | | | Walmart, Inc. (Food & Staples Retailing) | | | 5.00 | | | | 10/25/40 | | | | 626 | |
| | | | |
| | 730 | | | Walmart, Inc. (Food & Staples Retailing) | | | 5.63 | | | | 4/1/40 | | | | 980 | |
| | | | |
| | 730 | | | Waste Management, Inc. (Commercial Services & Supplies), Callable 1/15/39 @ 100.00 | | | 4.00 | | | | 7/15/39 | | | | 781 | |
| | | | |
| | 1,525 | | | Wells Fargo & Co., MTN (Banks) | | | 2.63 | | | | 7/22/22 | | | | 1,533 | |
| | | | |
| | 5,415 | | | Wells Fargo & Co. (Banks) | | | 3.00 | | | | 2/19/25 | | | | 5,475 | |
| | | | |
| | 423 | | | Wells Fargo & Co. (Banks) | | | 3.30 | | | | 9/9/24 | | | | 437 | |
| | | | |
| | 525 | | | Wells Fargo & Co., MTN (Banks), Callable 10/24/28 @ 100.00 | | | 4.15 | | | | 1/24/29 | | | | 571 | |
| | | | |
| | 1,375 | | | WestRock Co. (Containers & Packaging) | | | 4.90 | | | | 3/1/22 | | | | 1,454 | |
| | | | |
| | 340 | | | Westvaco Corp. (Containers & Packaging) | | | 8.20 | | | | 1/15/30 | | | | 462 | |
| | | | |
| | 931 | | | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 6.75 | | | | 8/1/37 | | | | 1,317 | |
| | | | | | | | | | | | | | | | |
| | | | Total Corporate Bonds | | | | | | | | | | | 251,234 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Yankee Dollars — 15.57% | | | | | | | | | | | | |
| | | | |
| | 176 | | | America Movil SAB de CV (Wireless Telecommunication Services) | | | 5.00 | | | | 3/30/20 | | | | 179 | |
| | | | |
| | 850 | | | America Movil SAB de CV (Wireless Telecommunication Services) | | | 6.13 | | | | 11/15/37 | | | | 1,089 | |
| | | | |
| | 1,007 | | | Aptiv PLC (Auto Components), Callable 10/15/25 @ 100.00 | | | 4.25 | | | | 1/15/26 | | | | 1,054 | |
| | | | |
| | 1,800 | | | Barclays PLC (Banks), Callable 1/10/22 @ 100.00 | | | 3.68 | | | | 1/10/23 | | | | 1,824 | |
See accompanying notes to financial statements.
236
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Yankee Dollars (continued) | | | | | | | | | | | | |
| | | | |
| $ | 480 | | | BHP Billiton Ltd. (Metals & Mining) | | | 5.00 | | | | 9/30/43 | | | $ | 596 | |
| | | | |
| | 2,094 | | | BP Capital Markets PLC (Diversified Financial Services) | | | 3.54 | | | | 11/4/24 | | | | 2,200 | |
| | | | |
| | 1,246 | | | British Telecommunications PLC (Diversified Telecommunication Services) | | | 9.63 | | | | 12/15/30 | | | | 1,876 | |
| | | | |
| | 1,305 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels),
Callable 12/15/22 @ 100.00 | | | 2.95 | | | | 1/15/23 | | | | 1,314 | |
| | | | |
| | 1,165 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels),
Callable 8/15/21 @ 100.00 | | | 3.45 | | | | 11/15/21 | | | | 1,190 | |
| | | | |
| | 850 | | | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 3/1/27 @ 100.00 | | | 3.85 | | | | 6/1/27 | | | | 881 | |
| | | | |
| | 350 | | | Canadian Pacific Railway Co. (Road & Rail), Callable 11/1/24 @ 100.00 | | | 2.90 | | | | 2/1/25 | | | | 358 | |
| | | | |
| | 2,390 | | | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | | | 4.45 | | | | 3/15/23 | | | | 2,517 | |
| | | | |
| | 1,000 | | | Coca-Cola European Partners PLC (Beverages), Callable 6/1/21 @ 100.00 | | | 4.50 | | | | 9/1/21 | | | | 1,033 | |
| | | | |
| | 1,106 | | | Deutsche Telekom International Finance BV (Diversified Telecommunication Services) | | | 8.75 | (a) | | | 6/15/30 | | | | 1,582 | |
| | | | |
| | 1,010 | | | Diageo Capital PLC (Diversified Financial Services) | | | 5.88 | | | | 9/30/36 | | | | 1,319 | |
| | | | |
| | 1,285 | | | HSBC Holdings PLC (Banks) | | | 4.00 | | | | 3/30/22 | | | | 1,338 | |
| | | | |
| | 500 | | | HSBC Holdings PLC (Banks) | | | 4.88 | | | | 1/14/22 | | | | 529 | |
| | | | |
| | 2,985 | | | HSBC Holdings PLC (Banks) | | | 5.10 | | | | 4/5/21 | | | | 3,120 | |
| | | | |
| | 500 | | | HSBC Holdings PLC (Banks) | | | 6.80 | | | | 6/1/38 | | | | 674 | |
| | | | |
| | 1,430 | | | Iberdrola International BV (Electric Utilities) | | | 5.81 | | | | 3/15/25 | | | | 1,616 | |
| | | | |
| | 1,795 | | | Iberdrola International BV (Electric Utilities) | | | 6.75 | | | | 7/15/36 | | | | 2,346 | |
| | | | |
| | 525 | | | LYB International Finance II BV (Chemicals), Callable 12/2/26 @ 100.00 | | | 3.50 | | | | 3/2/27 | | | | 534 | |
| | | | |
| | 321 | | | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | | | 4.63 | | | | 2/26/55 | | | | 320 | |
| | | | |
| | 2,000 | | | LyondellBasell Industries N.V. (Chemicals), Callable 1/15/24 @ 100.00 | | | 5.75 | | | | 4/15/24 | | | | 2,247 | |
| | | | |
| | 1,143 | | | Orange SA (Diversified Telecommunication Services) | | | 9.00 | | | | 3/1/31 | | | | 1,734 | |
| | | | |
| | 893 | | | Shell International Finance BV (Oil, Gas & Consumable Fuels) | | | 4.13 | | | | 5/11/35 | | | | 986 | |
| | | | |
| | 1,925 | | | Shell International Finance BV (Oil, Gas & Consumable Fuels) | | | 6.38 | | | | 12/15/38 | | | | 2,717 | |
| | | | |
| | 1,145 | | | Statoil ASA (Oil, Gas & Consumable Fuels) | | | 5.10 | | | | 8/17/40 | | | | 1,416 | |
| | | | |
| | 831 | | | Statoil ASA (Oil, Gas & Consumable Fuels) | | | 7.75 | | | | 6/15/23 | | | | 994 | |
| | | | |
| | 513 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 5.13 | | | | 4/27/20 | | | | 524 | |
| | | | |
| | 540 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 5.46 | | | | 2/16/21 | | | | 566 | |
| | | | |
| | 745 | | | Telefonica Emisiones SAU (Diversified Telecommunication Services) | | | 7.05 | | | | 6/20/36 | | | | 972 | |
| | | | |
| | 685 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | | | 2.50 | | | | 8/1/22 | | | | 683 | |
| | | | |
| | 2,610 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels), Callable 2/15/28 @ 100.00 | | | 4.25 | | | | 5/15/28 | | | | 2,816 | |
| | | | |
| | 1,040 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | | | 6.10 | | | | 6/1/40 | | | | 1,292 | |
| | | | |
| | 451 | | | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | | | 6.20 | | | | 10/15/37 | | | | 562 | |
| | | | |
| | 440 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 5.00 | | | | 5/30/38 | | | | 475 | |
| | | | |
| | 946 | | | Vodafone Group PLC (Wireless Telecommunication Services) | | | 6.15 | | | | 2/27/37 | | | | 1,145 | |
| | | | | | | | | | | | | | | | |
| | | | Total Yankee Dollars | | | | | | | | | | | 48,618 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Companies — 3.05% | | | | | | | | | | | | |
| | | | |
| | 1,756,811 | | | State Street Institutional Treasury Money Market Fund, Premier Class | | | 2.17 | (b) | | | | | | | 1,757 | |
| | | | |
| | 7,773,616 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (b) | | | | | | | 7,773 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Companies | | | | | | | | | | | 9,530 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $295,782) — 99.08% | | | | | | | | | | | 309,382 | |
| | | | Other assets in excess of liabilities — 0.92% | | | | | | | | | | | 2,873 | |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 312,255 | |
| | | | | | | | | | | | | | | | |
| (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 disclosed is the rate in effect on June 30, 2019. |
| (b) | The rate disclosed is the rate in effect on June 30, 2019. |
MTN — Medium Term Note
See accompanying notes to financial statements.
237
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The U.S. Corporate Fixed Income Securities Portfolio | | Agincourt Capital
Management, LLC | | | HC Capital Solutions | | | Total | |
Corporate Bonds | | | 80.46 | % | | | — | | | | 80.46 | % |
| | | |
Yankee Dollars | | | 15.57 | % | | | — | | | | 15.57 | % |
| | | |
Investment Companies | | | 0.56 | % | | | 2.49 | % | | | 3.05 | % |
| | | |
Other Assets (Liabilities) | | | 1.19 | % | | | (0.27 | )% | | | 0.92 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 97.78 | % | | | 2.22 | % | | | 100.00 | % |
| | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
238
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Asset Backed Securities — 1.47% | | | | | | | | | | | | |
| | | | |
| $ | 200 | | | Ally Auto Receivables Trust, Series2018-3, Class – A3, Callable 9/15/21 @ 100.00 | | | 3.00 | | | | 1/17/23 | | | $ | 202 | |
| | | | |
| | 200 | | | BMW Vehicle Owner Trust, Series2018-A, Class – A4, Callable 10/25/21 @ 100.00 | | | 2.51 | | | | 6/25/24 | | | | 202 | |
| | | | |
| | 150 | | | Capital One Multi-Asset Execution Trust, Series2017-A4, Class – A4 | | | 1.99 | | | | 7/17/23 | | | | 150 | |
| | | | |
| | 200 | | | Capital One Multi-Asset Execution Trust,Series 2017-A3, Class – A3 | | | 2.43 | | | | 1/15/25 | | | | 202 | |
| | | | |
| | 270 | | | Capital One Multi-Asset Execution Trust, Series2019-A1, Class – A1 | | | 2.84 | | | | 12/16/24 | | | | 275 | |
| | | | |
| | 300 | | | CarMax Auto Owner Trust, Series2017-2, Class – A4, Callable 5/15/21 @ 100.00 | | | 2.25 | | | | 9/15/22 | | | | 300 | |
| | | | |
| | 260 | | | CarMax Auto Owner Trust, Series2018-2, Class – A3, Callable 2/15/22 @ 100.00 | | | 2.98 | | | | 1/17/23 | | | | 263 | |
| | | | |
| | 100 | | | Citibank Credit Card Issuance Trust, Series2014-A1, Class – A1 | | | 2.88 | | | | 1/23/23 | | | | 101 | |
| | | | |
| | 100 | | | Discover Card Execution Note Trust, Series2017-A2, Class – A2 | | | 2.39 | | | | 7/15/24 | | | | 101 | |
| | | | |
| | 350 | | �� | Discover Card Execution Note Trust, Series2018-A4, Class – A4 | | | 3.11 | | | | 1/16/24 | | | | 357 | |
| | | | |
| | 156 | | | GM Financial Consumer Automobile Receivables Trust, Series2018-1, Class – A4, Callable 9/16/21 @ 100.00 | | | 2.46 | | | | 7/17/23 | | | | 158 | |
| | | | |
| | 250 | | | Nissan Auto Receivables Owner Trust, Series2019-A, Class – A3, Callable 2/15/23 @ 100.00 | | | 2.90 | | | | 10/16/23 | | | | 254 | |
| | | | |
| | 200 | | | Synchrony Credit Card Master Note Trust, Series2018-1, Class – A | | | 2.97 | | | | 3/15/24 | | | | 203 | |
| | | | |
| | 200 | | | Toyota Auto Receivables Owner Trust, Series2018-A, Class – A4, Callable 11/15/21 @ 100.00 | | | 2.52 | | | | 5/15/23 | | | | 202 | |
| | | | |
| | 200 | | | World Omni Automobile Lease Securitization Trust, Series2019-A, Class – A3, Callable 12/15/21 @ 100.00 | | | 2.94 | | | | 5/16/22 | | | | 202 | |
| | | | | | | | | | | | | | | | |
| | | | Total Asset Backed Securities | | | | | | | | | | | 3,172 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Collateralized Mortgage Obligations — 6.33% | | | | | | | | | | | | |
| | | | |
| | 250 | | | Bank, Series 2017-BNK9, Class – ASB | | | 3.47 | | | | 11/15/54 | | | | 264 | |
| | | | |
| | 300 | | | Bank, Series 2018-BN10, Class – A5 | | | 3.69 | | | | 2/15/61 | | | | 322 | |
| | | | |
| | 200 | | | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class – A2 | | | 3.12 | | | | 2/15/50 | | | | 204 | |
| | | | |
| | 100 | | | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class – ASB | | | 3.37 | | | | 2/15/50 | | | | 104 | |
| | | | |
| | 250 | | | Benchmark Mortgage Trust, Series2019-B9, Class – A5 | | | 4.02 | | | | 3/15/52 | | | | 276 | |
| | | | |
| | 200 | | | Benchmark Mortgage Trust, Series2018-B6, Class – A4 | | | 4.26 | | | | 10/10/51 | | | | 224 | |
| | | | |
| | 228 | | | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class – A4 | | | 2.88 | | | | 2/10/48 | | | | 232 | |
| | | | |
| | 183 | | | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class – A5 | | | 3.14 | | | | 2/10/48 | | | | 188 | |
| | | | |
| | 100 | | | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class – A4 | | | 3.31 | | | | 4/10/49 | | | | 104 | |
| | | | |
| | 100 | | | Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class – A5 | | | 3.62 | | | | 2/10/49 | | | | 106 | |
| | | | |
| | 228 | | | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class – A4 | | | 3.62 | | | | 7/10/47 | | | | 241 | |
| | | | |
| | 183 | | | Commercial Mortgage Trust, Series 2015-LC19, Class – A4 | | | 3.18 | | | | 2/10/48 | | | | 189 | |
| | | | |
| | 80 | | | Commercial Mortgage Trust, Series2015-DC1, Class – A5 | | | 3.35 | | | | 2/10/48 | | | | 83 | |
| | | | |
| | 256 | | | Commercial Mortgage Trust, Series2013-CR8, Class – A5 | | | 3.61 | (a) | | | 6/10/46 | | | | 268 | |
| | | | |
| | 100 | | | Commercial Mortgage Trust, Series 2014-UBS4, Class – AM | | | 3.97 | | | | 8/10/47 | | | | 105 | |
| | | | |
| | 100 | | | Commercial Mortgage Trust, Series 2013-CR11, Class – B | | | 5.28 | (a) | | | 8/10/50 | | | | 108 | |
| | | | |
| | 200 | | | CSAIL Commercial Mortgage Trust, Series2016-C7, Class – ASB | | | 3.31 | | | | 11/15/49 | | | | 207 | |
| | | | |
| | 500 | | | CSAIL Commercial Mortgage Trust, Series 2018-CX11, Class – A2 | | | 3.82 | | | | 4/15/51 | | | | 524 | |
| | | | |
| | 130 | | | FannieMae-ACES, Series2016-M6, Class – A1 | | | 2.14 | | | | 5/25/26 | | | | 130 | |
| | | | |
| | 43 | | | FannieMae-ACES, Series2017-M8, Class – A1 | | | 2.65 | | | | 5/25/27 | | | | 44 | |
| | | | |
| | 16 | | | FannieMae-ACES, Series2013-M14, Class – APT | | | 2.71 | (a) | | | 4/25/23 | | | | 16 | |
| | | | |
| | 283 | | | FannieMae-ACES, Series2015-M3, Class – A2 | | | 2.72 | | | | 10/25/24 | | | | 289 | |
| | | | |
| | 247 | | | FannieMae-ACES, Series2012-M1, Class – A2 | | | 2.73 | | | | 10/25/21 | | | | 250 | |
| | | | |
| | 200 | | | FannieMae-ACES, Series2017-M7, Class – A2 | | | 2.96 | | | | 2/25/27 | | | | 206 | |
| | | | |
| | 50 | | | FannieMae-ACES, Series2012-M4, Class – 1A2 | | | 2.98 | | | | 4/25/22 | | | | 51 | |
| | | | |
| | 250 | | | FannieMae-ACES, Series2017-M11, Class – A2 | | | 2.98 | | | | 8/25/29 | | | | 258 | |
| | | | |
| | 228 | | | FannieMae-ACES, Series2014-M9, Class – A2 | | | 3.10 | (a) | | | 7/25/24 | | | | 237 | |
| | | | |
| | 300 | | | FannieMae-ACES, Series2017-M12, Class – A2 | | | 3.18 | (a) | | | 6/25/27 | | | | 313 | |
| | | | |
| | 200 | | | FannieMae-ACES, Series 2017 M15, Class – ATS2 | | | 3.20 | (a) | | | 11/25/27 | | | | 208 | |
| | | | |
| | 200 | | | FannieMae-ACES, Series2019-M2, Class – A2 | | | 3.63 | (a) | | | 11/25/28 | | | | 218 | |
| | | | |
| | 46 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class – A2 | | | 2.31 | | | | 8/25/22 | | | | 46 | |
| | | | |
| | 92 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K058, Class – A1 | | | 2.34 | | | | 7/25/26 | | | | 93 | |
| | | | |
| | 183 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K027, Class – A2 | | | 2.64 | | | | 1/25/23 | | | | 186 | |
| | | | |
| | 350 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K055, Class – A2 | | | 2.67 | | | | 3/25/26 | | | | 357 | |
| | | | |
| | 116 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class – A2 | | | 2.87 | | | | 12/25/21 | | | | 118 | |
See accompanying notes to financial statements.
239
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Collateralized Mortgage Obligations (continued) | | | | | | | | | | | | |
| | | | |
| $ | 53 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class – A1 | | | 3.02 | | | | 2/25/23 | | | $ | 54 | |
| | | | |
| | 365 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K043, Class – A2 | | | 3.06 | | | | 12/25/24 | | | | 380 | |
| | | | |
| | 274 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K716, Class – A2 | | | 3.13 | | | | 6/25/21 | | | | 278 | |
| | | | |
| | 183 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class – A2 | | | 3.31 | (a) | | | 5/25/23 | | | | 190 | |
| | | | |
| | 183 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K029, Class – A2 | | | 3.32 | (a) | | | 2/25/23 | | | | 190 | |
| | | | |
| | 100 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K047, Class – A2, Callable 5/11/25 @ 100.00 | | | 3.33 | (a) | | | 5/25/25 | | | | 106 | |
| | | | |
| | 500 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K077, Class – A2 | | | 3.85 | | | | 5/25/28 | | | | 552 | |
| | | | |
| | 110 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K014, Class – A2 | | | 3.87 | | | | 4/25/21 | | | | 112 | |
| | | | |
| | 205 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K012, Class – A2 | | | 4.18 | | | | 12/25/20 | | | | 210 | |
| | | | |
| | 109 | | | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K010, Class – A2 | | | 4.33 | | | | 10/25/20 | | | | 112 | |
| | | | |
| | 230 | | | GS Mortgage Securities Trust, Series2016-GS2, Class – A3 | | | 2.79 | | | | 5/10/49 | | | | 233 | |
| | | | |
| | 100 | | | GS Mortgage Securities Trust, Series2017-GS5, Class – A2 | | | 3.22 | | | | 3/10/50 | | | | 102 | |
| | | | |
| | 250 | | | GS Mortgage Securities Trust, Series2017-GS5, Class – A4 | | | 3.67 | | | | 3/10/50 | | | | 267 | |
| | | | |
| | 100 | | | GS Mortgage Securities Trust, Series 2018-GS10, Class – A5 | | | 4.16 | (a) | | | 7/10/51 | | | | 111 | |
| | | | |
| | 274 | | | GS Mortgage Securities Trust, Series 2013-GC14, Class – A5 | | | 4.24 | | | | 8/10/46 | | | | 293 | |
| | | | |
| | 137 | | | JPMBB Commercial Mortgage Securities Trust, Series2014-C24, Class – A5 | | | 3.64 | | | | 11/15/47 | | | | 145 | |
| | | | |
| | 183 | | | JPMBB Commercial Mortgage Securities Trust, Series2014-C22, Class – A4, Callable 7/15/24 @ 100.00 | | | 3.80 | | | | 9/15/47 | | | | 194 | |
| | | | |
| | 183 | | | JPMBB Commercial Mortgage Securities Trust, Series2013-C15, Class – A5 | | | 4.13 | | | | 11/15/45 | | | | 195 | |
| | | | |
| | 184 | | | JPMorgan Chase Commercial Mortgage Securities Corp., Series2012-C8, Class – A3 | | | 2.83 | | | | 10/15/45 | | | | 187 | |
| | | | |
| | 100 | | | Morgan Stanley BAML Trust, Series2015-C21, Class – ASB | | | 3.15 | | | | 3/15/48 | | | | 102 | |
| | | | |
| | 183 | | | Morgan Stanley BAML Trust, Series2015-C20, Class – A4 | | | 3.25 | | | | 2/15/48 | | | | 189 | |
| | | | |
| | 200 | | | Morgan Stanley BAML Trust, Series2014-C19, Class – A4 | | | 3.53 | | | | 12/15/47 | | | | 210 | |
| | | | |
| | 200 | | | Morgan Stanley BAML Trust, Series2017-C33, Class – A5 | | | 3.60 | | | | 5/15/50 | | | | 212 | |
| | | | |
| | 100 | | | Morgan Stanley BAML Trust, Series2014-C17, Class – A5, Callable 7/11/24 @ 100.00 | | | 3.74 | | | | 8/15/47 | | | | 106 | |
| | | | |
| | 100 | | | Morgan Stanley BAML Trust, Series2014-C15, Class – A4 | | | 4.05 | | | | 4/15/47 | | | | 107 | |
| | | | |
| | 200 | | | Morgan Stanley Capital I Trust, Series2017-H1, Class – A4 | | | 3.26 | | | | 6/15/50 | | | | 207 | |
| | | | |
| | 183 | | | Morgan Stanley Capital I Trust, Series 2016-UBS9, Class – A4 | | | 3.59 | | | | 3/15/49 | | | | 193 | |
| | | | |
| | 100 | | | SG Commercial Mortgage Securities Trust, Series2016-C5, Class – A4 | | | 3.06 | | | | 10/10/48 | | | | 102 | |
| | | | |
| | 121 | | | UBS Commercial Mortgage Trust, Series2012-C1, Class – AAB | | | 3.00 | | | | 5/10/45 | | | | 121 | |
| | | | |
| | 141 | | | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class – A4 | | | 3.53 | | | | 5/10/63 | | | | 146 | |
| | | | |
| | 500 | | | Wells Fargo Commercial Mortgage Trust, Series2016-C34, Class – A4 | | | 3.10 | | | | 6/15/49 | | | | 515 | |
| | | | |
| | 183 | | | Wells Fargo Commercial Mortgage Trust, Series2015-C30, Class – A4 | | | 3.66 | | | | 9/15/58 | | | | 194 | |
| | | | |
| | 124 | | | Wells Fargo Commercial Mortgage Trust, Series2015-P2, Class – A4 | | | 3.81 | | | | 12/15/48 | | | | 133 | |
| | | | |
| | 169 | | | Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class – A5 | | | 3.82 | | | | 8/15/50 | | | | 179 | |
| | | | |
| | 142 | | | Wells Fargo Commercial Mortgage Trust, Series2015-C26, Class – C | | | 4.07 | | | | 2/15/48 | | | | 144 | |
| | | | |
| | 151 | | | WF-RBS Commercial Mortgage Trust, Series2013-C14, Class – ASB | | | 2.98 | | | | 6/15/46 | | | | 153 | |
| | | | | | | | | | | | | | | | |
| | | | Total Collateralized Mortgage Obligations | | | | | | | | | | | 13,693 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | U.S. Government Agency Mortgages — 88.50% | | | | | | | | | | | | |
| | | | |
| | 48 | | | Fannie Mae, Pool #AS0001 | | | 2.00 | | | | 7/1/28 | | | | 48 | |
| | | | |
| | 38 | | | Fannie Mae, Pool #BJ4362 | | | 2.00 | | | | 11/1/32 | | | | 37 | |
| | | | |
| | 231 | | | Fannie Mae, Pool #AS1058 | | | 2.00 | | | | 11/1/28 | | | | 232 | |
| | | | |
| | 98 | | | Fannie Mae, Pool #MA2906 | | | 2.00 | | | | 2/1/32 | | | | 97 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #CA0052 | | | 2.00 | | | | 7/1/32 | | | | 21 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #AY4232 | | | 2.00 | | | | 5/1/30 | | | | 46 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #AS8437 | | | 2.50 | | | | 12/1/36 | | | | 41 | |
| | | | |
| | 23 | | | Fannie Mae, Pool #MA1511 | | | 2.50 | | | | 7/1/33 | | | | 23 | |
| | | | |
| | 278 | | | Fannie Mae, Pool #AP4742 | | | 2.50 | | | | 8/1/27 | | | | 281 | |
| | | | |
| | 22 | | | Fannie Mae, Pool #MA2854 | | | 2.50 | | | | 12/1/46 | | | | 21 | |
| | | | |
| | 112 | | | Fannie Mae, Pool #AS8246 | | | 2.50 | | | | 11/1/31 | | | | 113 | |
| | | | |
| | 165 | | | Fannie Mae, Pool #BC9041 | | | 2.50 | | | | 11/1/31 | | | | 166 | |
| | | | |
| | 111 | | | Fannie Mae, Pool #MA3217 | | | 2.50 | | | | 12/1/32 | | | | 112 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #MA2789 | | | 2.50 | | | | 10/1/36 | | | | 19 | |
See accompanying notes to financial statements.
240
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 57 | | | Fannie Mae, Pool #BJ3742 | | | 2.50 | | | | 12/1/32 | | | $ | 58 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #MA1270 | | | 2.50 | | | | 11/1/32 | | | | 47 | |
| | | | |
| | 55 | | | Fannie Mae, Pool #MA2868 | | | 2.50 | | | | 1/1/32 | | | | 55 | |
| | | | |
| | 307 | | | Fannie Mae, Pool #MA1277 | | | 2.50 | | | | 12/1/27 | | | | 311 | |
| | | | |
| | 343 | | | Fannie Mae, Pool #MA1210 | | | 2.50 | | | | 10/1/27 | | | | 346 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #AS8172 | | | 2.50 | | | | 10/1/36 | | | | 20 | |
| | | | |
| | 282 | | | Fannie Mae, Pool #AO3019 | | | 2.50 | | | | 5/1/27 | | | | 285 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #MA2888 | | | 2.50 | | | | 1/1/47 | | | | 20 | |
| | | | |
| | 169 | | | Fannie Mae, Pool #BE3032 | | | 2.50 | | | | 1/1/32 | | | | 170 | |
| | | | |
| | 68 | | | Fannie Mae, Pool #AS4660 | | | 2.50 | | | | 3/1/30 | | | | 68 | |
| | | | |
| | 157 | | | Fannie Mae, Pool #AS8892 | | | 2.50 | | | | 2/1/32 | | | | 158 | |
| | | | |
| | 112 | | | Fannie Mae, Pool #AU5334 | | | 2.50 | | | | 11/1/28 | | | | 113 | |
| | | | |
| | 112 | | | Fannie Mae, Pool #AU6387 | | | 2.50 | | | | 11/1/28 | | | | 113 | |
| | | | |
| | 38 | | | Fannie Mae, Pool #AS0513 | | | 2.50 | | | | 8/1/43 | | | | 38 | |
| | | | |
| | 168 | | | Fannie Mae, Pool #AB7391 | | | 2.50 | | | | 12/1/42 | | | | 168 | |
| | | | |
| | 93 | | | Fannie Mae, Pool #BJ3944 | | | 2.50 | | | | 1/1/33 | | | | 94 | |
| | | | |
| | 86 | | | Fannie Mae, Pool #MA3282 | | | 2.50 | | | | 2/1/33 | | | | 86 | |
| | | | |
| | 573 | | | Fannie Mae, Pool #MA3246 | | | 2.50 | | | | 1/1/33 | | | | 578 | |
| | | | |
| | 196 | | | Fannie Mae, Pool #AS4946 | | | 2.50 | | | | 5/1/30 | | | | 198 | |
| | | | |
| | 196 | | | Fannie Mae, Pool #AU2619 | | | 2.50 | | | | 8/1/28 | | | | 198 | |
| | | | |
| | 322 | | | Fannie Mae, Pool #MA3154 | | | 2.50 | | | | 10/1/32 | | | | 324 | |
| | | | |
| | 84 | | | Fannie Mae, Pool #AZ6458 | | | 2.50 | | | | 7/1/30 | | | | 85 | |
| | | | |
| | 68 | | | Fannie Mae, Pool #AT2717 | | | 2.50 | | | | 5/1/43 | | | | 68 | |
| | | | |
| | 82 | | | Fannie Mae, Pool #AL9996 | | | 3.00 | | | | 4/1/32 | | | | 84 | |
| | | | |
| | 1,106 | | | Fannie Mae, Pool #AP6375 | | | 3.00 | | | | 9/1/42 | | | | 1,123 | |
| | | | |
| | 338 | | | Fannie Mae, Pool #AL9865 | | | 3.00 | | | | 2/1/47 | | | | 342 | |
| | | | |
| | 479 | | | Fannie Mae, Pool #AP2465 | | | 3.00 | | | | 8/1/42 | | | | 486 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #AL9848 | | | 3.00 | | | | 3/1/47 | | | | 21 | |
| | | | |
| | 116 | | | Fannie Mae, Pool #AQ3223 | | | 3.00 | | | | 11/1/27 | | | | 119 | |
| | | | |
| | 650 | | | Fannie Mae, Pool #AO0752 | | | 3.00 | | | | 4/1/42 | | | | 659 | |
| | | | |
| | 217 | | | Fannie Mae, Pool #BD5787 | | | 3.00 | | | | 9/1/46 | | | | 219 | |
| | | | |
| | 285 | | | Fannie Mae, Pool #AS8276 | | | 3.00 | | | | 11/1/46 | | | | 288 | |
| | | | |
| | 266 | | | Fannie Mae, Pool #AS4884 | | | 3.00 | | | | 5/1/45 | | | | 269 | |
| | | | |
| | 59 | | | Fannie Mae, Pool #AS4334 | | | 3.00 | | | | 1/1/45 | | | | 60 | |
| | | | |
| | 280 | | | Fannie Mae, Pool #AS4333 | | | 3.00 | | | | 1/1/45 | | | | 284 | |
| | | | |
| | 85 | | | Fannie Mae, Pool #BE3861 | | | 3.00 | | | | 1/1/47 | | | | 86 | |
| | | | |
| | 141 | | | Fannie Mae, Pool #AS8186 | | | 3.00 | | | | 10/1/46 | | | | 143 | |
| | | | |
| | 270 | | | Fannie Mae, Pool #AT7620 | | | 3.00 | | | | 6/1/43 | | | | 275 | |
| | | | |
| | 88 | | | Fannie Mae, Pool #BE4400 | | | 3.00 | | | | 1/1/47 | | | | 89 | |
| | | | |
| | 627 | | | Fannie Mae, Pool #AP6493 | | | 3.00 | | | | 9/1/42 | | | | 636 | |
| | | | |
| | 287 | | | Fannie Mae, Pool #AT2014 | | | 3.00 | | | | 4/1/43 | | | | 292 | |
| | | | |
| | 304 | | | Fannie Mae, Pool #AT0682 | | | 3.00 | | | | 4/1/43 | | | | 310 | |
| | | | |
| | 237 | | | Fannie Mae, Pool #AS8784 | | | 3.00 | | | | 2/1/47 | | | | 239 | |
| | | | |
| | 176 | | | Fannie Mae, Pool #AS8521 | | | 3.00 | | | | 12/1/46 | | | | 178 | |
| | | | |
| | 86 | | | Fannie Mae, Pool #AS8483 | | | 3.00 | | | | 12/1/46 | | | | 87 | |
| | | | |
| | 78 | | | Fannie Mae, Pool #AS8438 | | | 3.00 | | | | 12/1/36 | | | | 80 | |
| | | | |
| | 79 | | | Fannie Mae, Pool #AS8424 | | | 3.00 | | | | 12/1/36 | | | | 81 | |
| | | | |
| | 370 | | | Fannie Mae, Pool #AS8414 | | | 3.00 | | | | 11/1/46 | | | | 374 | |
| | | | |
| | 51 | | | Fannie Mae, Pool #AT1575 | | | 3.00 | | | | 5/1/43 | | | | 52 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #AR7426 | | | 3.00 | | | | 7/1/43 | | | | 40 | |
| | | | |
| | 857 | | | Fannie Mae, Pool #AQ7920 | | | 3.00 | | | | 12/1/42 | | | | 870 | |
| | | | |
| | 59 | | | Fannie Mae, Pool #BM1370 | | | 3.00 | | | | 4/1/37 | | | | 60 | |
| | | | |
| | 30 | | | Fannie Mae, Pool #MA2287 | | | 3.00 | | | | 6/1/35 | | | | 30 | |
| | | | |
| | 107 | | | Fannie Mae, Pool #MA2425 | | | 3.00 | | | | 10/1/30 | | | | 109 | |
See accompanying notes to financial statements.
241
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 110 | | | Fannie Mae, Pool #MA2523 | | | 3.00 | | | | 2/1/36 | | | $ | 112 | |
| | | | |
| | 87 | | | Fannie Mae, Pool #MA3237 | | | 3.00 | | | | 1/1/48 | | | | 88 | |
| | | | |
| | 65 | | | Fannie Mae, Pool #MA3185 | | | 3.00 | | | | 11/1/37 | | | | 67 | |
| | | | |
| | 204 | | | Fannie Mae, Pool #MA3179 | | | 3.00 | | | | 11/1/47 | | | | 206 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #MA2087 | | | 3.00 | | | | 11/1/34 | | | | 43 | |
| | | | |
| | 364 | | | Fannie Mae, Pool #MA3082 | | | 3.00 | | | | 7/1/47 | | | | 367 | |
| | | | |
| | 108 | | | Fannie Mae, Pool #MA2230 | | | 3.00 | | | | 4/1/35 | | | | 109 | |
| | | | |
| | 99 | | | Fannie Mae, Pool #MA3090 | | | 3.00 | | | | 8/1/32 | | | | 101 | |
| | | | |
| | 107 | | | Fannie Mae, Pool #MA3339 | | | 3.00 | | | | 4/1/33 | | | | 110 | |
| | | | |
| | 119 | | | Fannie Mae, Pool #MA3331 | | | 3.00 | | | | 4/1/48 | | | | 120 | |
| | | | |
| | 194 | | | Fannie Mae, Pool #MA3631 | | | 3.00 | | | | 4/1/34 | | | | 198 | |
| | | | |
| | 189 | | | Fannie Mae, Pool #MA3147 | | | 3.00 | | | | 10/1/47 | | | | 190 | |
| | | | |
| | 196 | | | Fannie Mae, Pool #MA3657 | | | 3.00 | | | | 5/1/34 | | | | 200 | |
| | | | |
| | 284 | | | Fannie Mae, Pool #MA3106 | | | 3.00 | | | | 8/1/47 | | | | 286 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA3100 | | | 3.00 | | | | 8/1/37 | | | | 21 | |
| | | | |
| | 93 | | | Fannie Mae, Pool #MA3304 | | | 3.00 | | | | 3/1/48 | | | | 94 | |
| | | | |
| | 43 | | | Fannie Mae, Pool #MA3127 | | | 3.00 | | | | 9/1/37 | | | | 44 | |
| | | | |
| | 76 | | | Fannie Mae, Pool #AS3117 | | | 3.00 | | | | 8/1/29 | | | | 77 | |
| | | | |
| | 230 | | | Fannie Mae, Pool #MA2246 | | | 3.00 | | | | 4/1/30 | | | | 234 | |
| | | | |
| | 30 | | | Fannie Mae, Pool #MA2065 | | | 3.00 | | | | 10/1/34 | | | | 31 | |
| | | | |
| | 93 | | | Fannie Mae, Pool #AS2312 | | | 3.00 | | | | 5/1/29 | | | | 95 | |
| | | | |
| | 163 | | | Fannie Mae, Pool #AS1527 | | | 3.00 | | | | 1/1/29 | | | | 166 | |
| | | | |
| | 236 | | | Fannie Mae, Pool #AS0196 | | | 3.00 | | | | 8/1/28 | | | | 241 | |
| | | | |
| | 85 | | | Fannie Mae, Pool #MA3247 | | | 3.00 | | | | 1/1/33 | | | | 86 | |
| | | | |
| | 885 | | | Fannie Mae, Pool #AB7099 | | | 3.00 | | | | 11/1/42 | | | | 898 | |
| | | | |
| | 171 | | | Fannie Mae, Pool #BE1901 | | | 3.00 | | | | 12/1/46 | | | | 173 | |
| | | | |
| | 108 | | | Fannie Mae, Pool #MA2773 | | | 3.00 | | | | 10/1/36 | | | | 110 | |
| | | | |
| | 323 | | | Fannie Mae, Pool #MA2806 | | | 3.00 | | | | 11/1/46 | | | | 327 | |
| | | | |
| | 89 | | | Fannie Mae, Pool #MA2149 | | | 3.00 | | | | 1/1/30 | | | | 91 | |
| | | | |
| | 58 | | | Fannie Mae, Pool #MA2832 | | | 3.00 | | | | 12/1/36 | | | | 60 | |
| | | | |
| | 250 | | | Fannie Mae, Pool #MA2863 | | | 3.00 | | | | 1/1/47 | | | | 252 | |
| | | | |
| | 252 | | | Fannie Mae, Pool #MA2895 | | | 3.00 | | | | 2/1/47 | | | | 255 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #MA2897 | | | 3.00 | | | | 2/1/37 | | | | 41 | |
| | | | |
| | 341 | | | Fannie Mae, Pool #MA2956 | | | 3.00 | | | | 4/1/47 | | | | 344 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA2961 | | | 3.00 | | | | 4/1/37 | | | | 41 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA3218 | | | 3.00 | | | | 12/1/32 | | | | 41 | |
| | | | |
| | 229 | | | Fannie Mae, Pool #MA2737 | | | 3.00 | | | | 9/1/46 | | | | 231 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA3078 | | | 3.00 | | | | 7/1/37 | | | | 42 | |
| | | | |
| | 244 | | | Fannie Mae, Pool #MA2833 | | | 3.00 | | | | 12/1/46 | | | | 247 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #AS8056 | | | 3.00 | | | | 10/1/46 | | | | 42 | |
| | | | |
| | 69 | | | Fannie Mae, Pool #BK1015 | | | 3.00 | | | | 2/1/33 | | | | 70 | |
| | | | |
| | 241 | | | Fannie Mae, Pool #AS7238 | | | 3.00 | | | | 5/1/46 | | | | 244 | |
| | | | |
| | 312 | | | Fannie Mae, Pool #AB8897 | | | 3.00 | | | | 4/1/43 | | | | 318 | |
| | | | |
| | 76 | | | Fannie Mae, Pool #BC4276 | | | 3.00 | | | | 4/1/46 | | | | 77 | |
| | | | |
| | 288 | | | Fannie Mae, Pool #BC9003 | | | 3.00 | | | | 11/1/46 | | | | 291 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #MA1058 | | | 3.00 | | | | 5/1/32 | | | | 34 | |
| | | | |
| | 180 | | | Fannie Mae, Pool #AY4200 | | | 3.00 | | | | 5/1/45 | | | | 183 | |
| | | | |
| | 260 | | | Fannie Mae, Pool #AK3302 | | | 3.00 | | | | 3/1/27 | | | | 266 | |
| | | | |
| | 73 | | | Fannie Mae, Pool #J24886 | | | 3.00 | | | | 7/1/23 | | | | 74 | |
| | | | |
| | 381 | | | Fannie Mae, Pool #BD2446 | | | 3.00 | | | | 1/1/47 | | | | 385 | |
| | | | |
| | 43 | | | Fannie Mae, Pool #AZ4358 | | | 3.00 | | | | 7/1/30 | | | | 44 | |
| | | | |
| | 98 | | | Fannie Mae, Pool #BD5076 | | | 3.00 | | | | 2/1/32 | | | | 100 | |
| | | | |
| | 65 | | | Fannie Mae, Pool #MA1338 | | | 3.00 | | | | 2/1/33 | | | | 65 | |
| | | | |
| | 25 | | | Fannie Mae, Pool #AX8309 | | | 3.00 | | | | 11/1/29 | | | | 26 | |
See accompanying notes to financial statements.
242
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 117 | | | Fannie Mae, Pool #AZ0538 | | | 3.00 | | | | 9/1/30 | | | $ | 119 | |
| | | | |
| | 263 | | | Fannie Mae, Pool #AY4829 | | | 3.00 | | | | 5/1/45 | | | | 266 | |
| | | | |
| | 246 | | | Fannie Mae, Pool #BD4225 | | | 3.00 | | | | 11/1/46 | | | | 248 | |
| | | | |
| | 302 | | | Fannie Mae, Pool #MA1307 | | | 3.00 | | | | 1/1/33 | | | | 305 | |
| | | | |
| | 72 | | | Fannie Mae, Pool #AW8295 | | | 3.00 | | | | 8/1/29 | | | | 73 | |
| | | | |
| | 64 | | | Fannie Mae, Pool #MA2579 | | | 3.00 | | | | 4/1/36 | | | | 65 | |
| | | | |
| | 274 | | | Fannie Mae, Pool #AK0006 | | | 3.00 | | | | 1/1/27 | | | | 281 | |
| | | | |
| | 186 | | | Fannie Mae, Pool #AB4483 | | | 3.00 | | | | 2/1/27 | | | | 190 | |
| | | | |
| | 211 | | | Fannie Mae, Pool #AU3735 | | | 3.00 | | | | 8/1/43 | | | | 215 | |
| | | | |
| | 188 | | | Fannie Mae, Pool #BD5545 | | | 3.00 | | | | 10/1/46 | | | | 190 | |
| | | | |
| | 79 | | | Fannie Mae, Pool #AU7890 | | | 3.00 | | | | 9/1/28 | | | | 80 | |
| | | | |
| | 138 | | | Fannie Mae, Pool #AW7383 | | | 3.00 | | | | 8/1/29 | | | | 141 | |
| | | | |
| | 128 | | | Fannie Mae, Pool #MA1401 | | | 3.00 | | | | 4/1/33 | | | | 130 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #BA4786 | | | 3.00 | | | | 2/1/31 | | | | 43 | |
| | | | |
| | 125 | | | Fannie Mae, Pool #MA1527 | | | 3.00 | | | | 8/1/33 | | | | 128 | |
| | | | |
| | 13 | | | Fannie Mae, Pool #BA0826 | | | 3.00 | | | | 10/1/30 | | | | 13 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #BE9547 | | | 3.00 | | | | 4/1/47 | | | | 46 | |
| | | | |
| | 158 | | | Fannie Mae, Pool #AS7908 | | | 3.00 | | | | 9/1/46 | | | | 160 | |
| | | | |
| | 288 | | | Fannie Mae, Pool #BC4764 | | | 3.00 | | | | 10/1/46 | | | | 291 | |
| | | | |
| | 86 | | | Fannie Mae, Pool #BJ2996 | | | 3.00 | | | | 1/1/33 | | | | 88 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #MA2909 | | | 3.50 | | | | 2/1/37 | | | | 20 | |
| | | | |
| | 228 | | | Fannie Mae, Pool #AJ8476 | | | 3.50 | | | | 12/1/41 | | | | 235 | |
| | | | |
| | 220 | | | Fannie Mae, Pool #MA1107 | | | 3.50 | | | | 7/1/32 | | | | 228 | |
| | | | |
| | 95 | | | Fannie Mae, Pool #MA2923 | | | 3.50 | | | | 3/1/37 | | | | 98 | |
| | | | |
| | 110 | | | Fannie Mae, Pool #AJ4093 | | | 3.50 | | | �� | 10/1/26 | | | | 114 | |
| | | | |
| | 169 | | | Fannie Mae, Pool #MA1059 | | | 3.50 | | | | 5/1/32 | | | | 175 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #MA1021 | | | 3.50 | | | | 3/1/27 | | | | 21 | |
| | | | |
| | 57 | | | Fannie Mae, Pool #310139 | | | 3.50 | | | | 11/1/25 | | | | 59 | |
| | | | |
| | 90 | | | Fannie Mae, Pool #BA1893 | | | 3.50 | | | | 8/1/45 | | | | 92 | |
| | | | |
| | 27 | | | Fannie Mae, Pool #BA5031 | | | 3.50 | | | | 1/1/46 | | | | 27 | |
| | | | |
| | 179 | | | Fannie Mae, Pool #AS0024 | | | 3.50 | | | | 7/1/43 | | | | 184 | |
| | | | |
| | 205 | | | Fannie Mae, Pool #MA1980 | | | 3.50 | | | | 8/1/44 | | | | 211 | |
| | | | |
| | 103 | | | Fannie Mae, Pool #BC0163 | | | 3.50 | | | | 1/1/46 | | | | 105 | |
| | | | |
| | 334 | | | Fannie Mae, Pool #BC1158 | | | 3.50 | | | | 2/1/46 | | | | 344 | |
| | | | |
| | 13 | | | Fannie Mae, Pool #AJ6181 | | | 3.50 | | | | 12/1/26 | | | | 13 | |
| | | | |
| | 20 | | | Fannie Mae, Pool #MA2996 | | | 3.50 | | | | 5/1/37 | | | | 20 | |
| | | | |
| | 218 | | | Fannie Mae, Pool #AX9530 | | | 3.50 | | | | 2/1/45 | | | | 224 | |
| | | | |
| | 38 | | | Fannie Mae, Pool #AK0706 | | | 3.50 | | | | 2/1/27 | | | | 40 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #MA3059 | | | 3.50 | | | | 7/1/37 | | | | 41 | |
| | | | |
| | 143 | | | Fannie Mae, Pool #AU3742 | | | 3.50 | | | | 8/1/43 | | | | 147 | |
| | | | |
| | 148 | | | Fannie Mae, Pool #MA3637 | | | 3.50 | | | | 4/1/49 | | | | 151 | |
| | | | |
| | 194 | | | Fannie Mae, Pool #MA3614 | | | 3.50 | | | | 3/1/49 | | | | 199 | |
| | | | |
| | 182 | | | Fannie Mae, Pool #MA3462 | | | 3.50 | | | | 9/1/33 | | | | 188 | |
| | | | |
| | 357 | | | Fannie Mae, Pool #MA3414 | | | 3.50 | | | | 7/1/48 | | | | 367 | |
| | | | |
| | 27 | | | Fannie Mae, Pool #AV6407 | | | 3.50 | | | | 2/1/29 | | | | 28 | |
| | | | |
| | 992 | | | Fannie Mae, Pool #AB6017 | | | 3.50 | | | | 8/1/42 | | | | 1,030 | |
| | | | |
| | 283 | | | Fannie Mae, Pool #MA3332 | | | 3.50 | | | | 4/1/48 | | | | 291 | |
| | | | |
| | 359 | | | Fannie Mae, Pool #CA0487 | | | 3.50 | | | | 10/1/47 | | | | 368 | |
| | | | |
| | 15 | | | Fannie Mae, Pool #AX0159 | | | 3.50 | | | | 9/1/29 | | | | 16 | |
| | | | |
| | 41 | | | Fannie Mae, Pool #MA3152 | | | 3.50 | | | | 10/1/37 | | | | 43 | |
| | | | |
| | 188 | | | Fannie Mae, Pool #AX2486 | | | 3.50 | | | | 10/1/44 | | | | 193 | |
| | | | |
| | 403 | | | Fannie Mae, Pool #MA3182 | | | 3.50 | | | | 11/1/47 | | | | 415 | |
| | | | |
| | 101 | | | Fannie Mae, Pool #AX5201 | | | 3.50 | | | | 10/1/29 | | | | 105 | |
| | | | |
| | 573 | | | Fannie Mae, Pool #MA3520 | | | 3.50 | | | | 10/1/48 | | | | 587 | |
See accompanying notes to financial statements.
243
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 189 | | | Fannie Mae, Pool #MA3494 | | | 3.50 | | | | 10/1/48 | | | $ | 193 | |
| | | | |
| | 93 | | | Fannie Mae, Pool #AX7655 | | | 3.50 | | | | 1/1/45 | | | | 96 | |
| | | | |
| | 359 | | | Fannie Mae, Pool #MA3238 | | | 3.50 | | | | 1/1/48 | | | | 370 | |
| | | | |
| | 47 | | | Fannie Mae, Pool #MA2495 | | | 3.50 | | | | 1/1/46 | | | | 48 | |
| | | | |
| | 174 | | | Fannie Mae, Pool #MA3243 | | | 3.50 | | | | 1/1/38 | | | | 181 | |
| | | | |
| | 80 | | | Fannie Mae, Pool #MA2389 | | | 3.50 | | | | 9/1/35 | | | | 83 | |
| | | | |
| | 262 | | | Fannie Mae, Pool #MA2292 | | | 3.50 | | | | 6/1/45 | | | | 268 | |
| | | | |
| | 230 | | | Fannie Mae, Pool #MA2125 | | | 3.50 | | | | 12/1/44 | | | | 235 | |
| | | | |
| | 331 | | | Fannie Mae, Pool #AL1717 | | | 3.50 | | | | 5/1/27 | | | | 342 | |
| | | | |
| | 193 | | | Fannie Mae, Pool #MA3597 | | | 3.50 | | | | 2/1/49 | | | | 197 | |
| | | | |
| | 1,098 | | | Fannie Mae, Pool #AK7497 | | | 3.50 | | | | 4/1/42 | | | | 1,139 | |
| | | | |
| | 331 | | | Fannie Mae, Pool #MA3026 | | | 3.50 | | | | 6/1/47 | | | | 341 | |
| | | | |
| | 144 | | | Fannie Mae, Pool #BE5258 | | | 3.50 | | | | 1/1/47 | | | | 148 | |
| | | | |
| | 192 | | | Fannie Mae, Pool #MA1982 | | | 3.50 | | | | 8/1/34 | | | | 199 | |
| | | | |
| | 92 | | | Fannie Mae, Pool #AE5487 | | | 3.50 | | | | 10/1/25 | | | | 95 | |
| | | | |
| | 459 | | | Fannie Mae, Pool #BH9277 | | | 3.50 | | | | 2/1/48 | | | | 472 | |
| | | | |
| | 865 | | | Fannie Mae, Pool #AO8137 | | | 3.50 | | | | 8/1/42 | | | | 897 | |
| | | | |
| | 119 | | | Fannie Mae, Pool #AO9140 | | | 3.50 | | | | 7/1/42 | | | | 123 | |
| | | | |
| | 204 | | | Fannie Mae, Pool #AZ9576 | | | 3.50 | | | | 12/1/45 | | | | 209 | |
| | | | |
| | 239 | | | Fannie Mae, Pool #AS4771 | | | 3.50 | | | | 4/1/45 | | | | 245 | |
| | | | |
| | 251 | | | Fannie Mae, Pool #AY1306 | | | 3.50 | | | | 3/1/45 | | | | 258 | |
| | | | |
| | 325 | | | Fannie Mae, Pool #AS7491 | | | 3.50 | | | | 7/1/46 | | | | 333 | |
| | | | |
| | 161 | | | Fannie Mae, Pool #AY3802 | | | 3.50 | | | | 2/1/45 | | | | 166 | |
| | | | |
| | 51 | | | Fannie Mae, Pool #AP9390 | | | 3.50 | | | | 10/1/42 | | | | 53 | |
| | | | |
| | 144 | | | Fannie Mae, Pool #BC3126 | | | 3.50 | | | | 1/1/46 | | | | 148 | |
| | | | |
| | 155 | | | Fannie Mae, Pool #AY3913 | | | 3.50 | | | | 2/1/45 | | | | 159 | |
| | | | |
| | 377 | | | Fannie Mae, Pool #AO3760 | | | 3.50 | | | | 5/1/42 | | | | 391 | |
| | | | |
| | 129 | | | Fannie Mae, Pool #AS5319 | | | 3.50 | | | | 7/1/45 | | | | 133 | |
| | | | |
| | 178 | | | Fannie Mae, Pool #AY5303 | | | 3.50 | | | | 3/1/45 | | | | 183 | |
| | | | |
| | 79 | | | Fannie Mae, Pool #AY8856 | | | 3.50 | | | | 9/1/45 | | | | 81 | |
| | | | |
| | 281 | | | Fannie Mae, Pool #AZ0862 | | | 3.50 | | | | 7/1/45 | | | | 289 | |
| | | | |
| | 144 | | | Fannie Mae, Pool #AZ2614 | | | 3.50 | | | | 8/1/45 | | | | 148 | |
| | | | |
| | 48 | | | Fannie Mae, Pool #CA0234 | | | 3.50 | | | | 8/1/47 | | | | 49 | |
| | | | |
| | 367 | | | Fannie Mae, Pool #MA3305 | | | 3.50 | | | | 3/1/48 | | | | 377 | |
| | | | |
| | 97 | | | Fannie Mae, Pool #AZ6383 | | | 3.50 | | | | 9/1/45 | | | | 99 | |
| | | | |
| | 397 | | | Fannie Mae, Pool #BH5155 | | | 3.50 | | | | 9/1/47 | | | | 409 | |
| | | | |
| | 423 | | | Fannie Mae, Pool #BJ2692 | | | 3.50 | | | | 4/1/48 | | | | 435 | |
| | | | |
| | 141 | | | Fannie Mae, Pool #BJ0647 | | | 3.50 | | | | 3/1/48 | | | | 145 | |
| | | | |
| | 300 | | | Fannie Mae, Pool #AU1635 | | | 3.50 | | | | 7/1/43 | | | | 309 | |
| | | | |
| | 213 | | | Fannie Mae, Pool #AY4300 | | | 3.50 | | | | 1/1/45 | | | | 218 | |
| | | | |
| | 121 | | | Fannie Mae, Pool #AS4772 | | | 3.50 | | | | 4/1/45 | | | | 124 | |
| | | | |
| | 121 | | | Fannie Mae, Pool #AO4647 | | | 3.50 | | | | 6/1/42 | | | | 124 | |
| | | | |
| | 204 | | | Fannie Mae, Pool #AS5068 | | | 3.50 | | | | 6/1/45 | | | | 209 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #MA2692 | | | 3.50 | | | | 7/1/36 | | | | 35 | |
| | | | |
| | 31 | | | Fannie Mae, Pool #AS2081 | | | 3.50 | | | | 4/1/29 | | | | 32 | |
| | | | |
| | 270 | | | Fannie Mae, Pool #BK9038 | | | 3.50 | | | | 10/1/33 | | | | 279 | |
| | | | |
| | 82 | | | Fannie Mae, Pool #BK9622 | | | 3.50 | | | | 10/1/48 | | | | 84 | |
| | | | |
| | 32 | | | Fannie Mae, Pool #BM1231 | | | 3.50 | | | | 11/1/31 | | | | 33 | |
| | | | |
| | 197 | | | Fannie Mae, Pool #AS6649 | | | 3.50 | | | | 2/1/46 | | | | 203 | |
| | | | |
| | 76 | | | Fannie Mae, Pool #BC7633 | | | 3.50 | | | | 6/1/46 | | | | 78 | |
| | | | |
| | 97 | | | Fannie Mae, Pool #AS5892 | | | 3.50 | | | | 10/1/45 | | | | 99 | |
| | | | |
| | 253 | | | Fannie Mae, Pool #AS3133 | | | 3.50 | | | | 8/1/44 | | | | 264 | |
| | | | |
| | 155 | | | Fannie Mae, Pool #AS5696 | | | 3.50 | | | | 8/1/45 | | | | 159 | |
| | | | |
| | 192 | | | Fannie Mae, Pool #AO4385 | | | 3.50 | | | | 6/1/42 | | | | 199 | |
See accompanying notes to financial statements.
244
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 216 | | | Fannie Mae, Pool #AS7239 | | | 3.50 | | | | 5/1/46 | | | $ | 222 | |
| | | | |
| | 365 | | | Fannie Mae, Pool #BH9215 | | | 3.50 | | | | 1/1/48 | | | | 376 | |
| | | | |
| | 132 | | | Fannie Mae, Pool #BM2001 | | | 3.50 | | | | 12/1/46 | | | | 136 | |
| | | | |
| | 352 | | | Fannie Mae, Pool #BD2436 | | | 3.50 | | | | 1/1/47 | | | | 361 | |
| | | | |
| | 273 | | | Fannie Mae, Pool #AS7388 | | | 3.50 | | | | 6/1/46 | | | | 280 | |
| | | | |
| | 399 | | | Fannie Mae, Pool #AQ0546 | | | 3.50 | | | | 11/1/42 | | | | 414 | |
| | | | |
| | 1,028 | | | Fannie Mae, Pool #AO2548 | | | 3.50 | | | | 4/1/42 | | | | 1,066 | |
| | | | |
| | 394 | | | Fannie Mae, Pool #BM5485 | | | 3.50 | | | | 2/1/49 | | | | 404 | |
| | | | |
| | 320 | | | Fannie Mae, Pool #BM1568 | | | 3.50 | | | | 7/1/47 | | | | 330 | |
| | | | |
| | 229 | | | Fannie Mae, Pool #AS4773 | | | 3.50 | | | | 4/1/45 | | | | 236 | |
| | | | |
| | 302 | | | Fannie Mae, Pool #BD5046 | | | 3.50 | | | | 2/1/47 | | | | 311 | |
| | | | |
| | 48 | | | Fannie Mae, Pool #BM5446 | | | 3.50 | | | | 2/1/49 | | | | 49 | |
| | | | |
| | 17 | | | Fannie Mae, Pool #AL8776 | | | 3.50 | | | | 7/1/46 | | | | 18 | |
| | | | |
| | 250 | | | Fannie Mae, Series2018-M14, Class – A2 | | | 3.58 | (a) | | | 8/25/28 | | | | 271 | |
| | | | |
| | 276 | | | Fannie Mae, Pool #CA1894 | | | 4.00 | | | | 6/1/48 | | | | 286 | |
| | | | |
| | 66 | | | Fannie Mae, Pool #BH2623 | | | 4.00 | | | | 8/1/47 | | | | 69 | |
| | | | |
| | 287 | | | Fannie Mae, Pool #MA3121 | | | 4.00 | | | | 9/1/47 | | | | 298 | |
| | | | |
| | 329 | | | Fannie Mae, Pool #BE8050 | | | 4.00 | | | | 4/1/47 | | | | 342 | |
| | | | |
| | 266 | | | Fannie Mae, Pool #CA1015 | | | 4.00 | | | | 1/1/48 | | | | 277 | |
| | | | |
| | 195 | | | Fannie Mae, Pool #BN0594 | | | 4.00 | | | | 12/1/48 | | | | 202 | |
| | | | |
| | 67 | | | Fannie Mae, Pool #BJ0639 | | | 4.00 | | | | 3/1/48 | | | | 69 | |
| | | | |
| | 279 | | | Fannie Mae, Pool #BK0909 | | | 4.00 | | | | 7/1/48 | | | | 289 | |
| | | | |
| | 113 | | | Fannie Mae, Pool #AC2995 | | | 4.00 | | | | 9/1/24 | | | | 118 | |
| | | | |
| | 109 | | | Fannie Mae, Pool #AC7328 | | | 4.00 | | | | 12/1/39 | | | | 115 | |
| | | | |
| | 60 | | | Fannie Mae, Pool #MA0493 | | | 4.00 | | | | 8/1/30 | | | | 63 | |
| | | | |
| | 183 | | | Fannie Mae, Pool #MA0641 | | | 4.00 | | | | 2/1/31 | | | | 192 | |
| | | | |
| | 33 | | | Fannie Mae, Pool #MA0695 | | | 4.00 | | | | 4/1/31 | | | | 35 | |
| | | | |
| | 312 | | | Fannie Mae, Pool #BM2002 | | | 4.00 | | | | 10/1/47 | | | | 325 | |
| | | | |
| | 174 | | | Fannie Mae, Pool #BM4991 | | | 4.00 | | | | 9/1/48 | | | | 181 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #BM5525 | | | 4.00 | | | | 3/1/31 | | | | 48 | |
| | | | |
| | 84 | | | Fannie Mae, Pool #MA3244 | | | 4.00 | | | | 1/1/38 | | | | 88 | |
| | | | |
| | 60 | | | Fannie Mae, Pool #G08694 | | | 4.00 | | | | 2/1/46 | | | | 62 | |
| | | | |
| | 42 | | | Fannie Mae, Pool #MA3216 | | | 4.00 | | | | 12/1/37 | | | | 45 | |
| | | | |
| | 377 | | | Fannie Mae, Pool #BJ9169 | | | 4.00 | | | | 5/1/48 | | | | 391 | |
| | | | |
| | 315 | | | Fannie Mae, Pool #CA0183 | | | 4.00 | | | | 8/1/47 | | | | 328 | |
| | | | |
| | 376 | | | Fannie Mae, Pool #BK7608 | | | 4.00 | | | | 9/1/48 | | | | 389 | |
| | | | |
| | 183 | | | Fannie Mae, Pool #CA0237 | | | 4.00 | | | | 8/1/47 | | | | 191 | |
| | | | |
| | 336 | | | Fannie Mae, Pool #MA3183 | | | 4.00 | | | | 11/1/47 | | | | 350 | |
| | | | |
| | 16 | | | Fannie Mae, Pool #MA2655 | | | 4.00 | | | | 6/1/36 | | | | 17 | |
| | | | |
| | 344 | | | Fannie Mae, Pool #BD7081 | | | 4.00 | | | | 3/1/47 | | | | 358 | |
| | | | |
| | 163 | | | Fannie Mae, Pool #AZ8067 | | | 4.00 | | | | 9/1/45 | | | | 169 | |
| | | | |
| | 130 | | | Fannie Mae, Pool #AL7347 | | | 4.00 | | | | 9/1/45 | | | | 135 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #AY2291 | | | 4.00 | | | | 3/1/45 | | | | 40 | |
| | | | |
| | 81 | | | Fannie Mae, Pool #AY8981 | | | 4.00 | | | | 8/1/45 | | | | 84 | |
| | | | |
| | 196 | | | Fannie Mae, Pool #AZ7362 | | | 4.00 | | | | 11/1/45 | | | | 204 | |
| | | | |
| | 50 | | | Fannie Mae, Pool #AE0375 | | | 4.00 | | | | 7/1/25 | | | | 52 | |
| | | | |
| | 147 | | | Fannie Mae, Pool #AS7601 | | | 4.00 | | | | 7/1/46 | | | | 153 | |
| | | | |
| | 132 | | | Fannie Mae, Pool #AS7600 | | | 4.00 | | | | 7/1/46 | | | | 138 | |
| | | | |
| | 29 | | | Fannie Mae, Pool #AS7028 | | | 4.00 | | | | 4/1/46 | | | | 30 | |
| | | | |
| | 44 | | | Fannie Mae, Pool #AT3872 | | | 4.00 | | | | 6/1/43 | | | | 46 | |
| | | | |
| | 253 | | | Fannie Mae, Pool #AS9486 | | | 4.00 | | | | 4/1/47 | | | | 263 | |
| | | | |
| | 340 | | | Fannie Mae, Pool #AS9831 | | | 4.00 | | | | 6/1/47 | | | | 354 | |
| | | | |
| | 74 | | | Fannie Mae, Pool #AS8823 | | | 4.00 | | | | 2/1/47 | | | | 76 | |
| | | | |
| | 214 | | | Fannie Mae, Pool #AS8532 | | | 4.00 | | | | 12/1/46 | | | | 224 | |
See accompanying notes to financial statements.
245
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 134 | | | Fannie Mae, Pool #AS3903 | | | 4.00 | | | | 11/1/44 | | | $ | 138 | |
| | | | |
| | 181 | | | Fannie Mae, Pool #AS3467 | | | 4.00 | | | | 10/1/44 | | | | 187 | |
| | | | |
| | 197 | | | Fannie Mae, Pool #AO2959 | | | 4.00 | | | | 5/1/42 | | | | 203 | |
| | | | |
| | 198 | | | Fannie Mae, Pool #AY1595 | | | 4.00 | | | | 1/1/45 | | | | 206 | |
| | | | |
| | 12 | | | Fannie Mae, Pool #AZ8874 | | | 4.00 | | | | 9/1/45 | | | | 12 | |
| | | | |
| | 77 | | | Fannie Mae, Pool #BC5559 | | | 4.00 | | | | 3/1/46 | | | | 80 | |
| | | | |
| | 135 | | | Fannie Mae, Pool #BA6910 | | | 4.00 | | | | 2/1/46 | | | | 140 | |
| | | | |
| | 980 | | | Fannie Mae, Pool #190405 | | | 4.00 | | | | 10/1/40 | | | | 1,029 | |
| | | | |
| | 143 | | | Fannie Mae, Pool #AV2340 | | | 4.00 | | | | 12/1/43 | | | | 150 | |
| | | | |
| | 153 | | | Fannie Mae, Pool #AW5063 | | | 4.00 | | | | 7/1/44 | | | | 159 | |
| | | | |
| | 44 | | | Fannie Mae, Pool #AW5109 | | | 4.00 | | | | 8/1/44 | | | | 45 | |
| | | | |
| | 21 | | | Fannie Mae, Pool #AW9041 | | | 4.00 | | | | 8/1/44 | | | | 22 | |
| | | | |
| | 169 | | | Fannie Mae, Pool #AX0841 | | | 4.00 | | | | 9/1/44 | | | | 177 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #AH3394 | | | 4.00 | | | | 1/1/41 | | | | 37 | |
| | | | |
| | 212 | | | Fannie Mae, Pool #AL8387 | | | 4.00 | | | | 3/1/46 | | | | 221 | |
| | | | |
| | 400 | | | Fannie Mae, Pool #AJ7857 | | | 4.00 | | | | 12/1/41 | | | | 419 | |
| | | | |
| | 490 | | | Fannie Mae, Pool #AJ5303 | | | 4.00 | | | | 11/1/41 | | | | 514 | |
| | | | |
| | 296 | | | Fannie Mae, Pool #AH5859 | | | 4.00 | | | | 2/1/41 | | | | 310 | |
| | | | |
| | 211 | | | Fannie Mae, Pool #AH6242 | | | 4.00 | | | | 4/1/26 | | | | 219 | |
| | | | |
| | 76 | | | Fannie Mae, Pool #AL4778 | | | 4.00 | | | | 10/1/32 | | | | 80 | |
| | | | |
| | 85 | | | Fannie Mae, Pool #AY0025 | | | 4.00 | | | | 2/1/45 | | | | 88 | |
| | | | |
| | 160 | | | Fannie Mae, Pool #AY1377 | | | 4.00 | | | | 4/1/45 | | | | 166 | |
| | | | |
| | 63 | | | Fannie Mae, Pool #BA0847 | | | 4.00 | | | | 3/1/46 | | | | 65 | |
| | | | |
| | 539 | | | Fannie Mae, Pool #AJ7689 | | | 4.00 | | | | 12/1/41 | | | | 565 | |
| | | | |
| | 46 | | | Fannie Mae, Pool #AL9742 | | | 4.00 | | | | 7/1/29 | | | | 48 | |
| | | | |
| | 254 | | | Fannie Mae, Pool #AU3753 | | | 4.00 | | | | 8/1/43 | | | | 265 | |
| | | | |
| | 196 | | | Fannie Mae, Pool #MA3638 | | | 4.00 | | | | 4/1/49 | | | | 202 | |
| | | | |
| | 37 | | | Fannie Mae, Pool #AS3448 | | | 4.00 | | | | 9/1/44 | | | | 39 | |
| | | | |
| | 14 | | | Fannie Mae, Pool #MA2536 | | | 4.00 | | | | 2/1/36 | | | | 15 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #MA2455 | | | 4.00 | | | | 11/1/35 | | | | 42 | |
| | | | |
| | 192 | | | Fannie Mae, Pool #MA3592 | | | 4.00 | | | | 2/1/49 | | | | 199 | |
| | | | |
| | 19 | | | Fannie Mae, Pool #MA3037 | | | 4.00 | | | | 6/1/37 | | | | 20 | |
| | | | |
| | 328 | | | Fannie Mae, Pool #MA3027 | | | 4.00 | | | | 6/1/47 | | | | 341 | |
| | | | |
| | 225 | | | Fannie Mae, Pool #MA3277 | | | 4.00 | | | | 2/1/48 | | | | 234 | |
| | | | |
| | 405 | | | Fannie Mae, Pool #MA2995 | | | 4.00 | | | | 5/1/47 | | | | 422 | |
| | | | |
| | 45 | | | Fannie Mae, Pool #MA3413 | | | 4.00 | | | | 7/1/38 | | | | 47 | |
| | | | |
| | 416 | | | Fannie Mae, Pool #MA3615 | | | 4.00 | | | | 3/1/49 | | | | 429 | |
| | | | |
| | 411 | | | Fannie Mae, Pool #AS0531 | | | 4.00 | | | | 9/1/43 | | | | 429 | |
| | | | |
| | 27 | | | Fannie Mae, Pool #AS2117 | | | 4.00 | | | | 4/1/44 | | | | 28 | |
| | | | |
| | 185 | | | Fannie Mae, Pool #MA3521 | | | 4.00 | | | | 11/1/48 | | | | 191 | |
| | | | |
| | 183 | | | Fannie Mae, Pool #AS3293 | | | 4.00 | | | | 9/1/44 | | | | 189 | |
| | | | |
| | 182 | | | Fannie Mae, Pool #AS3216 | | | 4.00 | | | | 9/1/44 | | | | 190 | |
| | | | |
| | 129 | | | Fannie Mae, Pool #AS3468 | | | 4.00 | | | | 10/1/44 | | | | 134 | |
| | | | |
| | 155 | | | Fannie Mae, Pool #AS2498 | | | 4.00 | | | | 5/1/44 | | | | 162 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #AU5302 | | | 4.50 | | | | 10/1/43 | | | | 43 | |
| | | | |
| | 104 | | | Fannie Mae, Pool #MA0481 | | | 4.50 | | | | 8/1/30 | | | | 109 | |
| | | | |
| | 185 | | | Fannie Mae, Pool #AD8529 | | | 4.50 | | | | 8/1/40 | | | | 198 | |
| | | | |
| | 180 | | | Fannie Mae, Pool #MA3537 | | | 4.50 | | | | 12/1/48 | | | | 188 | |
| | | | |
| | 179 | | | Fannie Mae, Pool #AB3192 | | | 4.50 | | | | 6/1/41 | | | | 192 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AH6790 | | | 4.50 | | | | 3/1/41 | | | | 36 | |
| | | | |
| | 34 | | | Fannie Mae, Pool #AB1470 | | | 4.50 | | | | 9/1/40 | | | | 37 | |
| | | | |
| | 464 | | | Fannie Mae, Pool #AH7521 | | | 4.50 | | | | 3/1/41 | | | | 498 | |
| | | | |
| | 443 | | | Fannie Mae, Pool #AH9055 | | | 4.50 | | | | 4/1/41 | | | | 476 | |
| | | | |
| | 179 | | | Fannie Mae, Pool #AI4815 | | | 4.50 | | | | 6/1/41 | | | | 192 | |
See accompanying notes to financial statements.
246
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 89 | | | Fannie Mae, Pool #AB1389 | | | 4.50 | | | | 8/1/40 | | | $ | 96 | |
| | | | |
| | — | | | Fannie Mae, Pool #AB0339 | | | 4.50 | | | | 1/1/20 | | | | — | |
| | | | |
| | 444 | | | Fannie Mae, Pool #AL1107 | | | 4.50 | | | | 11/1/41 | | | | 477 | |
| | | | |
| | 144 | | | Fannie Mae, Pool #AL4450 | | | 4.50 | | | | 12/1/43 | | | | 153 | |
| | | | |
| | 39 | | | Fannie Mae, Pool #AA9781 | | | 4.50 | | | | 7/1/24 | | | | 40 | |
| | | | |
| | 187 | | | Fannie Mae, Pool #254954 | | | 4.50 | | | | 10/1/23 | | | | 197 | |
| | | | |
| | 228 | | | Fannie Mae, Pool #MA3184 | | | 4.50 | | | | 11/1/47 | | | | 239 | |
| | | | |
| | 27 | | | Fannie Mae, Pool #AA0860 | | | 4.50 | | | | 1/1/39 | | | | 28 | |
| | | | |
| | 395 | | | Fannie Mae, Pool #MA3639 | | | 4.50 | | | | 4/1/49 | | | | 412 | |
| | | | |
| | 9 | | | Fannie Mae, Pool #AW7048 | | | 4.50 | | | | 6/1/44 | | | | 10 | |
| | | | |
| | 314 | | | Fannie Mae, Pool #CA1711 | | | 4.50 | | | | 5/1/48 | | | | 329 | |
| | | | |
| | 65 | | | Fannie Mae, Pool #CA1218 | | | 4.50 | | | | 2/1/48 | | | | 68 | |
| | | | |
| | 26 | | | Fannie Mae, Pool #982892 | | | 4.50 | | | | 5/1/23 | | | | 26 | |
| | | | |
| | 186 | | | Fannie Mae, Pool #MA3522 | | | 4.50 | | | | 11/1/48 | | | | 194 | |
| | | | |
| | 192 | | | Fannie Mae, Pool #AE0217 | | | 4.50 | | | | 8/1/40 | | | | 203 | |
| | | | |
| | 80 | | | Fannie Mae, Pool #AS1638 | | | 4.50 | | | | 2/1/44 | | | | 85 | |
| | | | |
| | 173 | | | Fannie Mae, Pool #BK5283 | | | 4.50 | | | | 6/1/48 | | | | 181 | |
| | | | |
| | 117 | | | Fannie Mae, Pool #BE5992 | | | 4.50 | | | | 2/1/47 | | | | 122 | |
| | | | |
| | 147 | | | Fannie Mae, Pool #AS8157 | | | 4.50 | | | | 10/1/46 | | | | 154 | |
| | | | |
| | 79 | | | Fannie Mae, Pool #AL5082 | | | 4.50 | | | | 3/1/44 | | | | 84 | |
| | | | |
| | 128 | | | Fannie Mae, Pool #CA0623 | | | 4.50 | | | | 10/1/47 | | | | 135 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #AS8576 | | | 4.50 | | | | 12/1/46 | | | | 38 | |
| | | | |
| | 91 | | | Fannie Mae, Pool #AS2276 | | | 4.50 | | | | 4/1/44 | | | | 97 | |
| | | | |
| | 43 | | | Fannie Mae, Pool #BK8830 | | | 4.50 | | | | 8/1/48 | | | | 45 | |
| | | | |
| | 345 | | | Fannie Mae, Pool #BN4309 | | | 4.50 | | | | 1/1/49 | | | | 361 | |
| | | | |
| | 386 | | | Fannie Mae, Pool #MA3593 | | | 4.50 | | | | 2/1/49 | | | | 403 | |
| | | | |
| | 67 | | | Fannie Mae, Pool #BM1285 | | | 4.50 | | | | 5/1/47 | | | | 72 | |
| | | | |
| | 49 | | | Fannie Mae, Pool #BN0877 | | | 4.50 | | | | 11/1/48 | | | | 51 | |
| | | | |
| | 277 | | | Fannie Mae, Pool #BK1416 | | | 4.50 | | | | 5/1/48 | | | | 292 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #AL8816 | | | 4.50 | | | | 9/1/45 | | | | 38 | |
| | | | |
| | 40 | | | Fannie Mae, Pool #AS0861 | | | 4.50 | | | | 10/1/43 | | | | 43 | |
| | | | |
| | 153 | | | Fannie Mae, Pool #BE6489 | | | 4.50 | | | | 1/1/47 | | | | 161 | |
| | | | |
| | 49 | | | Fannie Mae, Pool #MA3708 | | | 5.00 | | | | 6/1/49 | | | | 52 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #890621 | | | 5.00 | | | | 5/1/42 | | | | 40 | |
| | | | |
| | 29 | | | Fannie Mae, Pool #890603 | | | 5.00 | | | | 8/1/41 | | | | 31 | |
| | | | |
| | 72 | | | Fannie Mae, Pool #AL5788 | | | 5.00 | | | | 5/1/42 | | | | 78 | |
| | | | |
| | 106 | | | Fannie Mae, Pool #BM3904 | | | 5.00 | | | | 5/1/48 | | | | 113 | |
| | | | |
| | 683 | | | Fannie Mae, Pool #889117 | | | 5.00 | | | | 10/1/35 | | | | 745 | |
| | | | |
| | 68 | | | Fannie Mae, Pool #CA0349 | | | 5.00 | | | | 9/1/47 | | | | 72 | |
| | | | |
| | 123 | | | Fannie Mae, Pool #MA3669 | | | 5.00 | | | | 5/1/49 | | | | 130 | |
| | | | |
| | 52 | | | Fannie Mae, Pool #BM3781 | | | 5.00 | | | | 11/1/30 | | | | 55 | |
| | | | |
| | 74 | | | Fannie Mae, Pool #AS0575 | | | 5.00 | | | | 9/1/43 | | | | 80 | |
| | | | |
| | 87 | | | Fannie Mae, Pool #MA3472 | | | 5.00 | | | | 9/1/48 | | | | 92 | |
| | | | |
| | 69 | | | Fannie Mae, Pool #AS0837 | | | 5.00 | | | | 10/1/43 | | | | 74 | |
| | | | |
| | 72 | | | Fannie Mae, Pool #MA3527 | | | 5.00 | | | | 11/1/48 | | | | 76 | |
| | | | |
| | 1 | | | Fannie Mae, Pool #868986 | | | 5.00 | | | | 5/1/21 | | | | 1 | |
| | | | |
| | 126 | | | Fannie Mae, Pool #AH5988 | | | 5.00 | | | | 3/1/41 | | | | 134 | |
| | | | |
| | 80 | | | Fannie Mae, Pool #836750 | | | 5.00 | | | | 10/1/35 | | | | 87 | |
| | | | |
| | 36 | | | Fannie Mae, Pool #725238 | | | 5.00 | | | | 3/1/34 | | | | 40 | |
| | | | |
| | 3 | | | Fannie Mae, Pool #796663 | | | 5.00 | | | | 9/1/19 | | | | 3 | |
| | | | |
| | 86 | | | Fannie Mae, Pool #CA1795 | | | 5.00 | | | | 5/1/48 | | | | 91 | |
| | | | |
| | 100 | | | Fannie Mae, Pool #MA3594 | | | 5.00 | | | | 2/1/49 | | | | 106 | |
| | | | |
| | 24 | | | Fannie Mae, Pool #976945 | | | 5.50 | | | | 2/1/23 | | | | 25 | |
| | | | |
| | 13 | | | Fannie Mae, Pool #909662 | | | 5.50 | | | | 2/1/22 | | | | 13 | |
See accompanying notes to financial statements.
247
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 3 | | | Fannie Mae, Pool #AL0725 | | | 5.50 | | | | 6/1/24 | | | $ | 3 | |
| | | | |
| | 1,041 | | | Fannie Mae, Pool #890221 | | | 5.50 | | | | 12/1/33 | | | | 1,127 | |
| | | | |
| | 1 | | | Fannie Mae, Pool #A79636 | | | 5.50 | | | | 7/1/38 | | | | 1 | |
| | | | |
| | 18 | | | Fannie Mae, Pool #929451 | | | 5.50 | | | | 5/1/38 | | | | 19 | |
| | | | |
| | 5 | | | Fannie Mae, Pool #A69671 | | | 5.50 | | | | 12/1/37 | | | | 5 | |
| | | | |
| | 631 | | | Fannie Mae, Pool #725228 | | | 6.00 | | | | 3/1/34 | | | | 695 | |
| | | | |
| | 147 | | | Fannie Mae, Pool #889984 | | | 6.50 | | | | 10/1/38 | | | | 161 | |
| | | | |
| | 400 | | | Fannie Mae, 15 YR TBA | | | 3.00 | | | | 7/25/34 | | | | 408 | |
| | | | |
| | 50 | | | Fannie Mae, 15 YR TBA | | | 3.00 | | | | 8/25/33 | | | | 51 | |
| | | | |
| | 675 | | | Fannie Mae, 15 YR TBA | | | 3.50 | | | | 7/25/34 | | | | 697 | |
| | | | |
| | 100 | | | Fannie Mae, 15 YR TBA | | | 3.50 | | | | 8/25/33 | | | | 103 | |
| | | | |
| | 300 | | | Fannie Mae, 15 YR TBA | | | 4.00 | | | | 7/25/33 | | | | 311 | |
| | | | |
| | 400 | | | Fannie Mae, 30 YR TBA | | | 3.00 | | | | 8/25/49 | | | | 403 | |
| | | | |
| | 950 | | | Fannie Mae, 30 YR TBA | | | 3.50 | | | | 8/25/49 | | | | 971 | |
| | | | |
| | 2,300 | | | Fannie Mae, 30 YR TBA | | | 3.50 | | | | 7/25/48 | | | | 2,351 | |
| | | | |
| | 475 | | | Fannie Mae, 30 YR TBA | | | 4.00 | | | | 8/25/49 | | | | 491 | |
| | | | |
| | 8,900 | | | Fannie Mae, 30 YR TBA | | | 4.00 | | | | 7/25/49 | | | | 9,197 | |
| | | | |
| | 100 | | | Fannie Mae, 30 YR TBA | | | 4.50 | | | | 8/25/49 | | | | 104 | |
| | | | |
| | 2,475 | | | Fannie Mae, 30 YR TBA | | | 4.50 | | | | 7/25/49 | | | | 2,587 | |
| | | | |
| | 475 | | | Fannie Mae, 30 YR TBA | | | 5.00 | | | | 7/25/48 | | | | 502 | |
| | | | |
| | 75 | | | Fannie Mae, 30 YR TBA | | | 5.00 | | | | 8/25/49 | | | | 79 | |
| | | | |
| | 85 | | | Freddie Mac, Pool #G18634 | | | 2.00 | | | | 3/1/32 | | | | 85 | |
| | | | |
| | 56 | | | Freddie Mac, Pool #G18547 | | | 2.00 | | | | 3/1/30 | | | | 56 | |
| | | | |
| | 124 | | | Freddie Mac, Pool #J25777 | | | 2.00 | | | | 9/1/28 | | | | 124 | |
| | | | |
| | 43 | | | Freddie Mac, Pool #J25759 | | | 2.00 | | | | 8/1/28 | | | | 43 | |
| | | | |
| | 303 | | | Freddie Mac, Pool #G18680 | | | 2.50 | | | | 3/1/33 | | | | 305 | |
| | | | |
| | 295 | | | Freddie Mac, Pool #J38477 | | | 2.50 | | | | 2/1/33 | | | | 297 | |
| | | | |
| | 174 | | | Freddie Mac, Pool #J37902 | | | 2.50 | | | | 11/1/32 | | | | 176 | |
| | | | |
| | 196 | | | Freddie Mac, Pool #G18568 | | | 2.50 | | | | 9/1/30 | | | | 198 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #C91904 | | | 2.50 | | | | 11/1/36 | | | | 40 | |
| | | | |
| | 44 | | | Freddie Mac, Pool #Q42878 | | | 2.50 | | | | 9/1/46 | | | | 44 | |
| | | | |
| | 162 | | | Freddie Mac, Pool #G18533 | | | 2.50 | | | | 12/1/29 | | | | 164 | |
| | | | |
| | 147 | | | Freddie Mac, Pool #J35896 | | | 2.50 | | | | 12/1/31 | | | | 148 | |
| | | | |
| | 107 | | | Freddie Mac, Pool #J35643 | | | 2.50 | | | | 11/1/31 | | | | 108 | |
| | | | |
| | 137 | | | Freddie Mac, Pool #G18683 | | | 2.50 | | | | 4/1/33 | | | | 138 | |
| | | | |
| | 210 | | | Freddie Mac, Pool #J26408 | | | 2.50 | | | | 11/1/28 | | | | 213 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #G08638 | | | 2.50 | | | | 4/1/45 | | | | 23 | |
| | | | |
| | 82 | | | Freddie Mac, Pool #G18485 | | | 2.50 | | | | 10/1/28 | | | | 83 | |
| | | | |
| | 187 | | | Freddie Mac, Pool #G18470 | | | 2.50 | | | | 6/1/28 | | | | 189 | |
| | | | |
| | 168 | | | Freddie Mac, Pool #G18459 | | | 2.50 | | | | 3/1/28 | | | | 169 | |
| | | | |
| | 93 | | | Freddie Mac, Pool #G18704 | | | 2.50 | | | | 6/1/33 | | | | 94 | |
| | | | |
| | 72 | | | Freddie Mac, Pool #J25585 | | | 2.50 | | | | 9/1/28 | | | | 73 | |
| | | | |
| | 163 | | | Freddie Mac, Pool #J23440 | | | 2.50 | | | | 4/1/28 | | | | 165 | |
| | | | |
| | 70 | | | Freddie Mac, Pool #C09026 | | | 2.50 | | | | 2/1/43 | | | | 70 | |
| | | | |
| | 28 | | | Freddie Mac, Pool #G18472 | | | 2.50 | | | | 7/1/28 | | | | 29 | |
| | | | |
| | 14 | | | Freddie Mac, Pool #J30875 | | | 2.50 | | | | 3/1/30 | | | | 14 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #G08755 | | | 2.50 | | | | 2/1/47 | | | | 20 | |
| | | | |
| | 176 | | | Freddie Mac, Pool #J18954 | | | 2.50 | | | | 4/1/27 | | | | 178 | |
| | | | |
| | 46 | | | Freddie Mac, Pool #G18665 | | | 2.50 | | | | 11/1/32 | | | | 46 | |
| | | | |
| | 151 | | | Freddie Mac, Pool #G18635 | | | 2.50 | | | | 3/1/32 | | | | 152 | |
| | | | |
| | 91 | | | Freddie Mac, Pool #J36428 | | | 3.00 | | | | 2/1/32 | | | | 93 | |
| | | | |
| | 45 | | | Freddie Mac, Pool #J38057 | | | 3.00 | | | | 12/1/32 | | | | 46 | |
| | | | |
| | 44 | | | Freddie Mac, Pool #J33135 | | | 3.00 | | | | 11/1/30 | | | | 45 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #G30999 | | | 3.00 | | | | 2/1/37 | | | | 20 | |
See accompanying notes to financial statements.
248
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 43 | | | Freddie Mac, Pool #J38807 | | | 3.00 | | | | 4/1/33 | | | $ | 44 | |
| | | | |
| | 456 | | | Freddie Mac, Pool #G08534 | | | 3.00 | | | | 6/1/43 | | | | 465 | |
| | | | |
| | 251 | | | Freddie Mac, Pool #G08525 | | | 3.00 | | | | 5/1/43 | | | | 256 | |
| | | | |
| | 1,290 | | | Freddie Mac, Pool #G08537 | | | 3.00 | | | | 7/1/43 | | | | 1,316 | |
| | | | |
| | 293 | | | Freddie Mac, Pool #G08855 | | | 3.00 | | | | 10/1/48 | | | | 295 | |
| | | | |
| | 195 | | | Freddie Mac, Pool #G08850 | | | 3.00 | | | | 9/1/48 | | | | 196 | |
| | | | |
| | 59 | | | Freddie Mac, Pool #G08540 | | | 3.00 | | | | 8/1/43 | | | | 60 | |
| | | | |
| | 130 | | | Freddie Mac, Pool #G18677 | | | 3.00 | | | | 2/1/33 | | | | 132 | |
| | | | |
| | 83 | | | Freddie Mac, Pool #J38675 | | | 3.00 | | | | 3/1/33 | | | | 84 | |
| | | | |
| | 496 | | | Freddie Mac, Pool #Q21065 | | | 3.00 | | | | 8/1/43 | | | | 506 | |
| | | | |
| | 235 | | | Freddie Mac, Pool #C04446 | | | 3.00 | | | | 1/1/43 | | | | 238 | |
| | | | |
| | 16 | | | Freddie Mac, Pool #Q18882 | | | 3.00 | | | | 5/1/43 | | | | 16 | |
| | | | |
| | 47 | | | Freddie Mac, Pool #Q18599 | | | 3.00 | | | | 6/1/43 | | | | 48 | |
| | | | |
| | 298 | | | Freddie Mac, Pool #Q16222 | | | 3.00 | | | | 3/1/43 | | | | 304 | |
| | | | |
| | 284 | | | Freddie Mac, Pool #G60187 | | | 3.00 | | | | 8/1/45 | | | | 288 | |
| | | | |
| | 53 | | | Freddie Mac, Pool #G30945 | | | 3.00 | | | | 9/1/36 | | | | 55 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #Q13086 | | | 3.00 | | | | 11/1/42 | | | | 13 | |
| | | | |
| | 157 | | | Freddie Mac, Pool #Q20067 | | | 3.00 | | | | 7/1/43 | | | | 161 | |
| | | | |
| | 420 | | | Freddie Mac, Pool #G08701 | | | 3.00 | | | | 4/1/46 | | | | 425 | |
| | | | |
| | 301 | | | Freddie Mac, Pool #Q43734 | | | 3.00 | | | | 10/1/46 | | | | 304 | |
| | | | |
| | 397 | | | Freddie Mac, Pool #Q45735 | | | 3.00 | | | | 1/1/47 | | | | 400 | |
| | | | |
| | 281 | | | Freddie Mac, Pool #J17774 | | | 3.00 | | | | 1/1/27 | | | | 288 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #J17111 | | | 3.00 | | | | 10/1/26 | | | | 13 | |
| | | | |
| | 25 | | | Freddie Mac, Pool #J14241 | | | 3.00 | | | | 1/1/26 | | | | 26 | |
| | | | |
| | 262 | | | Freddie Mac, Pool #C04619 | | | 3.00 | | | | 3/1/43 | | | | 265 | |
| | | | |
| | 91 | | | Freddie Mac, Pool #G18715 | | | 3.00 | | | | 11/1/33 | | | | 93 | |
| | | | |
| | 102 | | | Freddie Mac, Pool #C91707 | | | 3.00 | | | | 6/1/33 | | | | 105 | |
| | | | |
| | 139 | | | Freddie Mac, Pool #C91724 | | | 3.00 | | | | 9/1/33 | | | | 142 | |
| | | | |
| | 73 | | | Freddie Mac, Pool #C91798 | | | 3.00 | | | | 12/1/34 | | | | 74 | |
| | | | |
| | 199 | | | Freddie Mac, Pool #C91581 | | | 3.00 | | | | 11/1/32 | | | | 203 | |
| | | | |
| | 30 | | | Freddie Mac, Pool #C91826 | | | 3.00 | | | | 5/1/35 | | | | 31 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #C91809 | | | 3.00 | | | | 2/1/35 | | | | 13 | |
| | | | |
| | 98 | | | Freddie Mac, Pool #C91819 | | | 3.00 | | | | 4/1/35 | | | | 100 | |
| | | | |
| | 41 | | | Freddie Mac, Pool #C91924 | | | 3.00 | | | | 4/1/37 | | | | 42 | |
| | | | |
| | 109 | | | Freddie Mac, Pool #C91927 | | | 3.00 | | | | 5/1/37 | | | | 111 | |
| | | | |
| | 39 | | | Freddie Mac, Pool #C91905 | | | 3.00 | | | | 11/1/36 | | | | 40 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #C91939 | | | 3.00 | | | | 6/1/37 | | | | 20 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #C91943 | | | 3.00 | | | | 7/1/37 | | | | 43 | |
| | | | |
| | 21 | | | Freddie Mac, Pool #C91949 | | | 3.00 | | | | 9/1/37 | | | | 21 | |
| | | | |
| | 44 | | | Freddie Mac, Pool #C91969 | | | 3.00 | | | | 1/1/38 | | | | 45 | |
| | | | |
| | 56 | | | Freddie Mac, Pool #Q19754 | | | 3.00 | | | | 7/1/43 | | | | 57 | |
| | | | |
| | 37 | | | Freddie Mac, Pool #J29932 | | | 3.00 | | | | 11/1/29 | | | | 38 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #Q39527 | | | 3.00 | | | | 3/1/46 | | | | 20 | |
| | | | |
| | 91 | | | Freddie Mac, Pool #Q41795 | | | 3.00 | | | | 7/1/46 | | | | 92 | |
| | | | |
| | 250 | | | Freddie Mac, Pool #Q44452 | | | 3.00 | | | | 11/1/46 | | | | 252 | |
| | | | |
| | 339 | | | Freddie Mac, Pool #G18673 | | | 3.00 | | | | 1/1/33 | | | | 347 | |
| | | | |
| | 178 | | | Freddie Mac, Pool #Q44665 | | | 3.00 | | | | 11/1/46 | | | | 180 | |
| | | | |
| | 353 | | | Freddie Mac, Pool #Q45094 | | | 3.00 | | | | 12/1/46 | | | | 357 | |
| | | | |
| | 188 | | | Freddie Mac, Pool #Q46441 | | | 3.00 | | | | 2/1/47 | | | | 189 | |
| | | | |
| | 216 | | | Freddie Mac, Pool #G08825 | | | 3.00 | | | | 6/1/48 | | | | 218 | |
| | | | |
| | 172 | | | Freddie Mac, Pool #C04422 | | | 3.00 | | | | 12/1/42 | | | | 174 | |
| | | | |
| | 148 | | | Freddie Mac, Pool #G18531 | | | 3.00 | | | | 11/1/29 | | | | 151 | |
| | | | |
| | 176 | | | Freddie Mac, Pool #G15217 | | | 3.00 | | | | 11/1/29 | | | | 181 | |
| | | | |
| | 343 | | | Freddie Mac, Pool #G08653 | | | 3.00 | | | | 7/1/45 | | | | 347 | |
See accompanying notes to financial statements.
249
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 175 | | | Freddie Mac, Pool #G15145 | | | 3.00 | | | | 7/1/29 | | | $ | 180 | |
| | | | |
| | 213 | | | Freddie Mac, Pool #G18514 | | | 3.00 | | | | 6/1/29 | | | | 217 | |
| | | | |
| | 317 | | | Freddie Mac, Pool #G60989 | | | 3.00 | | | | 12/1/46 | | | | 320 | |
| | | | |
| | 174 | | | Freddie Mac, Pool #G18518 | | | 3.00 | | | | 7/1/29 | | | | 178 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #G18534 | | | 3.00 | | | | 12/1/29 | | | | 43 | |
| | | | |
| | 140 | | | Freddie Mac, Pool #G18569 | | | 3.00 | | | | 9/1/30 | | | | 143 | |
| | | | |
| | 53 | | | Freddie Mac, Pool #G18575 | | | 3.00 | | | | 11/1/30 | | | | 54 | |
| | | | |
| | 132 | | | Freddie Mac, Pool #G08640 | | | 3.00 | | | | 5/1/45 | | | | 134 | |
| | | | |
| | 192 | | | Freddie Mac, Pool #G08783 | | | 3.00 | | | | 10/1/47 | | | | 194 | |
| | | | |
| | 458 | | | Freddie Mac, Pool #G08741 | | | 3.00 | | | | 1/1/47 | | | | 461 | |
| | | | |
| | 109 | | | Freddie Mac, Pool #G08648 | | | 3.00 | | | | 6/1/45 | | | | 110 | |
| | | | |
| | 81 | | | Freddie Mac, Pool #G18582 | | | 3.00 | | | | 1/1/31 | | | | 82 | |
| | | | |
| | 121 | | | Freddie Mac, Pool #G08680 | | | 3.00 | | | | 12/1/45 | | | | 123 | |
| | | | |
| | 244 | | | Freddie Mac, Pool #G08737 | | | 3.00 | | | | 12/1/46 | | | | 246 | |
| | | | |
| | 313 | | | Freddie Mac, Pool #G08635 | | | 3.00 | | | | 4/1/45 | | | | 317 | |
| | | | |
| | 170 | | | Freddie Mac, Pool #G08750 | | | 3.00 | | | | 3/1/47 | | | | 171 | |
| | | | |
| | 85 | | | Freddie Mac, Pool #G08747 | | | 3.00 | | | | 2/1/47 | | | | 86 | |
| | | | |
| | 160 | | | Freddie Mac, Pool #G08732 | | | 3.00 | | | | 11/1/46 | | | | 162 | |
| | | | |
| | 280 | | | Freddie Mac, Pool #G08641 | | | 3.50 | | | | 5/1/45 | | | | 289 | |
| | | | |
| | 190 | | | Freddie Mac, Pool #V83655 | | | 3.50 | | | | 12/1/47 | | | | 195 | |
| | | | |
| | 310 | | | Freddie Mac, Pool #G08761 | | | 3.50 | | | | 5/1/47 | | | | 320 | |
| | | | |
| | 243 | | | Freddie Mac, Pool #Q20860 | | | 3.50 | | | | 8/1/43 | | | | 251 | |
| | | | |
| | 119 | | | Freddie Mac, Pool #Q58422 | | | 3.50 | | | | 9/1/48 | | | | 123 | |
| | | | |
| �� | 145 | | | Freddie Mac, Pool #C91403 | | | 3.50 | | | | 3/1/32 | | | | 151 | |
| | | | |
| | 364 | | | Freddie Mac, Pool #G08650 | | | 3.50 | | | | 6/1/45 | | | | 376 | |
| | | | |
| | 280 | | | Freddie Mac, Pool #G08816 | | | 3.50 | | | | 6/1/48 | | | | 287 | |
| | | | |
| | 177 | | | Freddie Mac, Pool #Q08903 | | | 3.50 | | | | 6/1/42 | | | | 183 | |
| | | | |
| | 259 | | | Freddie Mac, Pool #G08667 | | | 3.50 | | | | 9/1/45 | | | | 267 | |
| | | | |
| | 20 | | | Freddie Mac, Pool #C91925 | | | 3.50 | | | | 4/1/37 | | | | 20 | |
| | | | |
| | 23 | | | Freddie Mac, Pool #Q55002 | | | 3.50 | | | | 3/1/48 | | | | 24 | |
| | | | |
| | 258 | | | Freddie Mac, Pool #G08654 | | | 3.50 | | | | 7/1/45 | | | | 266 | |
| | | | |
| | 76 | | | Freddie Mac, Pool #J26144 | | | 3.50 | | | | 10/1/23 | | | | 78 | |
| | | | |
| | 55 | | | Freddie Mac, Pool #J27494 | | | 3.50 | | | | 2/1/29 | | | | 57 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #C91940 | | | 3.50 | | | | 6/1/37 | | | | 41 | |
| | | | |
| | 62 | | | Freddie Mac, Pool #Q31134 | | | 3.50 | | | | 2/1/45 | | | | 65 | |
| | | | |
| | 32 | | | Freddie Mac, Pool #G08620 | | | 3.50 | | | | 12/1/44 | | | | 33 | |
| | | | |
| | 115 | | | Freddie Mac, Pool #Q36040 | | | 3.50 | | | | 9/1/45 | | | | 119 | |
| | | | |
| | 158 | | | Freddie Mac, Pool #Q37449 | | | 3.50 | | | | 11/1/45 | | | | 163 | |
| | | | |
| | 426 | | | Freddie Mac, Pool #G08623 | | | 3.50 | | | | 1/1/45 | | | | 439 | |
| | | | |
| | 328 | | | Freddie Mac, Pool #G08757 | | | 3.50 | | | | 4/1/47 | | | | 338 | |
| | | | |
| | 382 | | | Freddie Mac, Pool #G08627 | | | 3.50 | | | | 2/1/45 | | | | 394 | |
| | | | |
| | 347 | | | Freddie Mac, Pool #G61148 | | | 3.50 | | | | 9/1/47 | | | | 358 | |
| | | | |
| | 374 | | | Freddie Mac, Pool #Q49490 | | | 3.50 | | | | 7/1/47 | | | | 386 | |
| | | | |
| | 141 | | | Freddie Mac, Pool #G08813 | | | 3.50 | | | | 5/1/48 | | | | 145 | |
| | | | |
| | 226 | | | Freddie Mac, Pool #Q51461 | | | 3.50 | | | | 10/1/47 | | | | 233 | |
| | | | |
| | 639 | | | Freddie Mac, Pool #Q52319 | | | 3.50 | | | | 11/1/47 | | | | 659 | |
| | | | |
| | 198 | | | Freddie Mac, Pool #Q53176 | | | 3.50 | | | | 12/1/47 | | | | 204 | |
| | | | |
| | 271 | | | Freddie Mac, Pool #Q57871 | | | 3.50 | | | | 8/1/48 | | | | 277 | |
| | | | |
| | 455 | | | Freddie Mac, Pool #G08804 | | | 3.50 | | | | 3/1/48 | | | | 466 | |
| | | | |
| | 114 | | | Freddie Mac, Pool #Q04087 | | | 3.50 | | | | 10/1/41 | | | | 118 | |
| | | | |
| | 140 | | | Freddie Mac, Pool #G08706 | | | 3.50 | | | | 5/1/46 | | | | 144 | |
| | | | |
| | 192 | | | Freddie Mac, Pool #G08846 | | | 3.50 | | | | 11/1/48 | | | | 196 | |
| | | | |
| | 46 | | | Freddie Mac, Pool #G08792 | | | 3.50 | | | | 12/1/47 | | | | 48 | |
| | | | |
| | 135 | | | Freddie Mac, Pool #G08733 | | | 3.50 | | | | 11/1/46 | | | | 139 | |
See accompanying notes to financial statements.
250
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 13 | | | Freddie Mac, Pool #E02735 | | | 3.50 | | | | 10/1/25 | | | $ | 13 | |
| | | | |
| | 860 | | | Freddie Mac, Pool #G08495 | | | 3.50 | | | | 6/1/42 | | | | 891 | |
| | | | |
| | 322 | | | Freddie Mac, Pool #G08693 | | | 3.50 | | | | 3/1/46 | | | | 331 | |
| | | | |
| | 435 | | | Freddie Mac, Pool #G08636 | | | 3.50 | | | | 4/1/45 | | | | 449 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #J14232 | | | 3.50 | | | | 1/1/21 | | | | 14 | |
| | | | |
| | 141 | | | Freddie Mac, Pool #G08841 | | | 3.50 | | | | 9/1/48 | | | | 144 | |
| | | | |
| | 395 | | | Freddie Mac, Pool #G08554 | | | 3.50 | | | | 10/1/43 | | | | 407 | |
| | | | |
| | 80 | | | Freddie Mac, Pool #J13582 | | | 3.50 | | | | 11/1/25 | | | | 82 | |
| | | | |
| | 86 | | | Freddie Mac, Pool #G08605 | | | 3.50 | | | | 9/1/44 | | | | 89 | |
| | | | |
| | 61 | | | Freddie Mac, Pool #C03920 | | | 3.50 | | | | 5/1/42 | | | | 63 | |
| | | | |
| | 309 | | | Freddie Mac, Pool #G08681 | | | 3.50 | | | | 12/1/45 | | | | 318 | |
| | | | |
| | 203 | | | Freddie Mac, Pool #J15105 | | | 3.50 | | | | 4/1/26 | | | | 209 | |
| | | | |
| | 88 | | | Freddie Mac, Pool #G08599 | | | 3.50 | | | | 8/1/44 | | | | 91 | |
| | | | |
| | 260 | | | Freddie Mac, Pool #G08632 | | | 3.50 | | | | 3/1/45 | | | | 268 | |
| | | | |
| | 123 | | | Freddie Mac, Pool #G08702 | | | 3.50 | | | | 4/1/46 | | | | 126 | |
| | | | |
| | 357 | | | Freddie Mac, Pool #G08562 | | | 3.50 | | | | 1/1/44 | | | | 368 | |
| | | | |
| | 134 | | | Freddie Mac, Pool #G08698 | | | 3.50 | | | | 3/1/46 | | | | 138 | |
| | | | |
| | 62 | | | Freddie Mac, Pool #C91950 | | | 3.50 | | | | 9/1/37 | | | | 64 | |
| | | | |
| | 158 | | | Freddie Mac, Pool #C91456 | | | 3.50 | | | | 6/1/32 | | | | 164 | |
| | | | |
| | 62 | | | Freddie Mac, Pool #C92003 | | | 3.50 | | | | 7/1/38 | | | | 64 | |
| | | | |
| | 483 | | | Freddie Mac, Pool #G08766 | | | 3.50 | | | | 6/1/47 | | | | 498 | |
| | | | |
| | 126 | | | Freddie Mac, Pool #Q06749 | | | 3.50 | | | | 3/1/42 | | | | 130 | |
| | | | |
| | 161 | | | Freddie Mac, Pool #Q08998 | | | 3.50 | | | | 6/1/42 | | | | 167 | |
| | | | |
| | 149 | | | Freddie Mac, Pool #G08687 | | | 3.50 | | | | 1/1/46 | | | | 153 | |
| | | | |
| | 201 | | | Freddie Mac, Pool #G18707 | | | 3.50 | | | | 9/1/33 | | | | 208 | |
| | | | |
| | 15 | | | Freddie Mac, Pool #C91760 | | | 3.50 | | | | 5/1/34 | | | | 15 | |
| | | | |
| | 29 | | | Freddie Mac, Pool #G14216 | | | 3.50 | | | | 7/1/21 | | | | 30 | |
| | | | |
| | 211 | | | Freddie Mac, Pool #Q09896 | | | 3.50 | | | | 8/1/42 | | | | 218 | |
| | | | |
| | 111 | | | Freddie Mac, Pool #Q12052 | | | 3.50 | | | | 10/1/42 | | | | 114 | |
| | | | |
| | 65 | | | Freddie Mac, Pool #G30776 | | | 3.50 | | | | 7/1/35 | | | | 67 | |
| | | | |
| | 40 | | | Freddie Mac, Pool #C91742 | | | 3.50 | | | | 1/1/34 | | | | 41 | |
| | | | |
| | 15 | | | Freddie Mac, Pool #J12238 | | | 4.00 | | | | 5/1/20 | | | | 15 | |
| | | | |
| | 53 | | | Freddie Mac, Pool #G08672 | | | 4.00 | | | | 10/1/45 | | | | 55 | |
| | | | |
| | 172 | | | Freddie Mac, Pool #G08618 | | | 4.00 | | | | 12/1/44 | | | | 180 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #J12435 | | | 4.00 | | | | 6/1/25 | | | | 19 | |
| | | | |
| | 78 | | | Freddie Mac, Pool #C91738 | | | 4.00 | | | | 11/1/33 | | | | 82 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #G08642 | | | 4.00 | | | | 5/1/45 | | | | 13 | |
| | | | |
| | 305 | | | Freddie Mac, Pool #G08660 | | | 4.00 | | | | 8/1/45 | | | | 319 | |
| | | | |
| | 146 | | | Freddie Mac, Pool #C09070 | | | 4.00 | | | | 12/1/44 | | | | 152 | |
| | | | |
| | 842 | | | Freddie Mac, Pool #A96286 | | | 4.00 | | | | 1/1/41 | | | | 879 | |
| | | | |
| | 263 | | | Freddie Mac, Pool #G08669 | | | 4.00 | | | | 9/1/45 | | | | 275 | |
| | | | |
| | 17 | | | Freddie Mac, Pool #C91923 | | | 4.00 | | | | 3/1/37 | | | | 18 | |
| | | | |
| | 44 | | | Freddie Mac, Pool #C91994 | | | 4.00 | | | | 5/1/38 | | | | 46 | |
| | | | |
| | 7 | | | Freddie Mac, Pool #J11263 | | | 4.00 | | | | 11/1/19 | | | | 7 | |
| | | | |
| | 72 | | | Freddie Mac, Pool #C91765 | | | 4.00 | | | | 6/1/34 | | | | 76 | |
| | | | |
| | 389 | | | Freddie Mac, Pool #G08752 | | | 4.00 | | | | 3/1/47 | | | | 405 | |
| | | | |
| | 45 | | | Freddie Mac, Pool #C92019 | | | 4.00 | | | | 10/1/38 | | | | 48 | |
| | | | |
| | 181 | | | Freddie Mac, Pool #G08831 | | | 4.00 | | | | 8/1/48 | | | | 188 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #G08633 | | | 4.00 | | | | 3/1/45 | | | | 23 | |
| | | | |
| | 194 | | | Freddie Mac, Pool #G08588 | | | 4.00 | | | | 5/1/44 | | | | 202 | |
| | | | |
| | 90 | | | Freddie Mac, Pool #G08601 | | | 4.00 | | | | 8/1/44 | | | | 93 | |
| | | | |
| | 155 | | | Freddie Mac, Pool #G08567 | | | 4.00 | | | | 1/1/44 | | | | 161 | |
| | | | |
| | 65 | | | Freddie Mac, Pool #G08483 | | | 4.00 | | | | 3/1/42 | | | | 68 | |
| | | | |
| | 147 | | | Freddie Mac, Pool #G08459 | | | 4.00 | | | | 9/1/41 | | | | 154 | |
See accompanying notes to financial statements.
251
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 182 | | | Freddie Mac, Pool #G08847 | | | 4.00 | | | | 11/1/48 | | | $ | 189 | |
| | | | |
| | 238 | | | Freddie Mac, Pool #G06506 | | | 4.00 | | | | 12/1/40 | | | | 249 | |
| | | | |
| | 77 | | | Freddie Mac, Pool #G14453 | | | 4.00 | | | | 6/1/26 | | | | 80 | |
| | | | |
| | 323 | | | Freddie Mac, Pool #G08775 | | | 4.00 | | | | 8/1/47 | | | | 335 | |
| | | | |
| | 258 | | | Freddie Mac, Pool #G08785 | | | 4.00 | | | | 10/1/47 | | | | 268 | |
| | | | |
| | 320 | | | Freddie Mac, Pool #V83344 | | | 4.00 | | | | 8/1/47 | | | | 331 | |
| | | | |
| | 185 | | | Freddie Mac, Pool #G08595 | | | 4.00 | | | | 7/1/44 | | | | 193 | |
| | | | |
| | 190 | | | Freddie Mac, Pool #G08836 | | | 4.00 | | | | 9/1/48 | | | | 196 | |
| | | | |
| | 188 | | | Freddie Mac, Pool #G08767 | | | 4.00 | | | | 6/1/47 | | | | 196 | |
| | | | |
| | 207 | | | Freddie Mac, Pool #Q24955 | | | 4.00 | | | | 2/1/44 | | | | 217 | |
| | | | |
| | 117 | | | Freddie Mac, Pool #Q58680 | | | 4.00 | | | | 9/1/48 | | | | 121 | |
| | | | |
| | 11 | | | Freddie Mac, Pool #Q27456 | | | 4.00 | | | | 7/1/44 | | | | 11 | |
| | | | |
| | 138 | | | Freddie Mac, Pool #Q27594 | | | 4.00 | | | | 8/1/44 | | | | 144 | |
| | | | |
| | 90 | | | Freddie Mac, Pool #Q34081 | | | 4.00 | | | | 6/1/45 | | | | 94 | |
| | | | |
| | 114 | | | Freddie Mac, Pool #G08637 | | | 4.00 | | | | 4/1/45 | | | | 118 | |
| | | | |
| | 192 | | | Freddie Mac, Pool #G08616 | | | 4.00 | | | | 11/1/44 | | | | 199 | |
| | | | |
| | 1,518 | | | Freddie Mac, Pool #A97692 | | | 4.50 | | | | 3/1/41 | | | | 1,624 | |
| | | | |
| | 143 | | | Freddie Mac, Pool #A97495 | | | 4.50 | | | | 3/1/41 | | | | 153 | |
| | | | |
| | 178 | | | Freddie Mac, Pool #Q57957 | | | 4.50 | | | | 8/1/48 | | | | 186 | |
| | | | |
| | 33 | | | Freddie Mac, Pool #Q49599 | | | 4.50 | | | | 7/1/47 | | | | 35 | |
| | | | |
| | 203 | | | Freddie Mac, Pool #G08759 | | | 4.50 | | | | 4/1/47 | | | | 213 | |
| | | | |
| | 28 | | | Freddie Mac, Pool #A90437 | | | 4.50 | | | | 1/1/40 | | | | 30 | |
| | | | |
| | 45 | | | Freddie Mac, Pool #G08596 | | | 4.50 | | | | 7/1/44 | | | | 48 | |
| | | | |
| | 170 | | | Freddie Mac, Pool #G08827 | | | 4.50 | | | | 7/1/48 | | | | 178 | |
| | | | |
| | 22 | | | Freddie Mac, Pool #C09059 | | | 4.50 | | | | 3/1/44 | | | | 23 | |
| | | | |
| | 11 | | | Freddie Mac, Pool #E02862 | | | 4.50 | | | | 3/1/26 | | | | 12 | |
| | | | |
| | 178 | | | Freddie Mac, Pool #G08820 | | | 4.50 | | | | 5/1/48 | | | | 186 | |
| | | | |
| | 183 | | | Freddie Mac, Pool #Q59805 | | | 4.50 | | | | 11/1/48 | | | | 191 | |
| | | | |
| | 180 | | | Freddie Mac, Pool #G08848 | | | 4.50 | | | | 11/1/48 | | | | 188 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #J07849 | | | 4.50 | | | | 5/1/23 | | | | 20 | |
| | | | |
| | 114 | | | Freddie Mac, Pool #G08754 | | | 4.50 | | | | 3/1/47 | | | | 119 | |
| | | | |
| | 54 | | | Freddie Mac, Pool #G08781 | | | 4.50 | | | | 9/1/47 | | | | 57 | |
| | | | |
| | 19 | | | Freddie Mac, Pool #Q25432 | | | 4.50 | | | | 3/1/44 | | | | 20 | |
| | | | |
| | 55 | | | Freddie Mac, Pool #G60512 | | | 4.50 | | | | 12/1/45 | | | | 58 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #Q22671 | | | 4.50 | | | | 11/1/43 | | | | 44 | |
| | | | |
| | 505 | | | Freddie Mac, Pool #C01598 | | | 5.00 | | | | 8/1/33 | | | | 543 | |
| | | | |
| | 33 | | | Freddie Mac, Pool #G13255 | | | 5.00 | | | | 7/1/23 | | | | 35 | |
| | | | |
| | 15 | | | Freddie Mac, Pool #G07068 | | | 5.00 | | | | 7/1/41 | | | | 16 | |
| | | | |
| | 34 | | | Freddie Mac, Pool #G05205 | | | 5.00 | | | | 1/1/39 | | | | 36 | |
| | | | |
| | 225 | | | Freddie Mac, Pool #G04913 | | | 5.00 | | | | 3/1/38 | | | | 244 | |
| | | | |
| | 42 | | | Freddie Mac, Pool #G08838 | | | 5.00 | | | | 9/1/48 | | | | 45 | |
| | | | |
| | 208 | | | Freddie Mac, Pool #Q00763 | | | 5.00 | | | | 5/1/41 | | | | 226 | |
| | | | |
| | 3 | | | Freddie Mac, Pool #G06091 | | | 5.50 | | | | 5/1/40 | | | | 3 | |
| | | | |
| | 71 | | | Freddie Mac, Pool #G06031 | | | 5.50 | | | | 3/1/40 | | | | 77 | |
| | | | |
| | 468 | | | Freddie Mac, Pool #G01665 | | | 5.50 | | | | 3/1/34 | | | | 518 | |
| | | | |
| | 265 | | | Freddie Mac, Pool #G02794 | | | 6.00 | | | | 5/1/37 | | | | 294 | |
| | | | |
| | 13 | | | Freddie Mac, Pool #A62706 | | | 6.00 | | | | 6/1/37 | | | | 14 | |
| | | | |
| | 55 | | | Freddie Mac, Pool #G03551 | | | 6.00 | | | | 11/1/37 | | | | 61 | |
| | | | |
| | 33 | | | Freddie Mac, Pool #G05709 | | | 6.00 | | | | 6/1/38 | | | | 36 | |
| | | | |
| | 43 | | | Government National Mortgage Association, Pool #MA4717 | | | 2.50 | | | | 9/20/47 | | | | 44 | |
| | | | |
| | 67 | | | Government National Mortgage Association, Pool #AA8341 | | | 2.50 | | | | 2/15/28 | | | | 68 | |
| | | | |
| | 136 | | | Government National Mortgage Association, Pool #MA4125 | | | 2.50 | | | | 12/20/46 | | | | 137 | |
| | | | |
| | 40 | | | Government National Mortgage Association, Pool #MA4194 | | | 2.50 | | | | 1/20/47 | | | | 40 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #MA4424 | | | 2.50 | | | | 5/20/32 | | | | 38 | |
See accompanying notes to financial statements.
252
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 37 | | | Government National Mortgage Association, Pool #MA0908 | | | 2.50 | | | | 4/20/28 | | | $ | 38 | |
| | | | |
| | 36 | | | Government National Mortgage Association, Pool #MA1133 | | | 2.50 | | | | 7/20/28 | | | | 37 | |
| | | | |
| | 75 | | | Government National Mortgage Association, Pool #MA1283 | | | 2.50 | | | | 9/20/43 | | | | 75 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA2890 | | | 2.50 | | | | 6/20/45 | | | | 16 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #MA4355 | | | 2.50 | | | | 4/20/32 | | | | 19 | |
| | | | |
| | 15 | | | Government National Mortgage Association, Pool #711729 | | | 2.50 | | | | 3/15/43 | | | | 15 | |
| | | | |
| | 61 | | | Government National Mortgage Association, Pool #MA4067 | | | 2.50 | | | | 11/20/46 | | | | 61 | |
| | | | |
| | 66 | | | Government National Mortgage Association, Pool #MA0601 | | | 2.50 | | | | 12/20/27 | | | | 67 | |
| | | | |
| | 27 | | | Government National Mortgage Association, Pool #776954 | | | 2.50 | | | | 11/15/42 | | | | 27 | |
| | | | |
| | 349 | | | Government National Mortgage Association, Pool #MA0391 | | | 3.00 | | | | 9/20/42 | | | | 359 | |
| | | | |
| | 195 | | | Government National Mortgage Association, Pool #MA0461 | | | 3.00 | | | | 10/20/42 | | | | 200 | |
| | | | |
| | 228 | | | Government National Mortgage Association, Pool #MA4320 | | | 3.00 | | | | 3/20/47 | | | | 233 | |
| | | | |
| | 18 | | | Government National Mortgage Association, Pool #AL5058 | | | 3.00 | | | | 3/15/45 | | | | 19 | |
| | | | |
| | 189 | | | Government National Mortgage Association, Pool #MA3104 | | | 3.00 | | | | 9/20/45 | | | | 194 | |
| | | | |
| | 231 | | | Government National Mortgage Association, Pool #MA4195 | | | 3.00 | | | | 1/20/47 | | | | 236 | |
| | | | |
| | 170 | | | Government National Mortgage Association, Pool #MA3172 | | | 3.00 | | | | 10/20/45 | | | | 174 | |
| | | | |
| | 676 | | | Government National Mortgage Association, Pool #MA4126 | | | 3.00 | | | | 12/20/46 | | | | 691 | |
| | | | |
| | 73 | | | Government National Mortgage Association, Pool #MA2600 | | | 3.00 | | | | 2/20/45 | | | | 75 | |
| | | | |
| | 191 | | | Government National Mortgage Association, Pool #MA2825 | | | 3.00 | | | | 5/20/45 | | | | 195 | |
| | | | |
| | 217 | | | Government National Mortgage Association, Pool #AA6149 | | | 3.00 | | | | 3/20/43 | | | | 224 | |
| | | | |
| | 218 | | | Government National Mortgage Association, Pool #MA0153 | | | 3.00 | | | | 6/20/42 | | | | 225 | |
| | | | |
| | 83 | | | Government National Mortgage Association, Pool #MA0851 | | | 3.00 | | | | 3/20/43 | | | | 85 | |
| | | | |
| | 26 | | | Government National Mortgage Association, Pool #AA2934 | | | 3.00 | | | | 7/15/42 | | | | 26 | |
| | | | |
| | 115 | | | Government National Mortgage Association, Pool #AA2654 | | | 3.00 | | | | 6/15/43 | | | | 117 | |
| | | | |
| | 116 | | | Government National Mortgage Association, Pool #779084 | | | 3.00 | | | | 4/15/42 | | | | 119 | |
| | | | |
| | 262 | | | Government National Mortgage Association, Pool #MA3662 | | | 3.00 | | | | 5/20/46 | | | | 268 | |
| | | | |
| | 203 | | | Government National Mortgage Association, Pool #MA3735 | | | 3.00 | | | | 6/20/46 | | | | 208 | |
| | | | |
| | 14 | | | Government National Mortgage Association, Pool #5276 | | | 3.00 | | | | 1/20/27 | | | | 15 | |
| | | | |
| | 220 | | | Government National Mortgage Association, Pool #MA1374 | | | 3.00 | | | | 10/20/43 | | | | 226 | |
| | | | |
| | 67 | | | Government National Mortgage Association, Pool #MA1265 | | | 3.00 | | | | 9/20/28 | | | | 69 | |
| | | | |
| | 1,229 | | | Government National Mortgage Association, Pool #MA0624 | | | 3.00 | | | | 12/20/42 | | | | 1,260 | |
| | | | |
| | 31 | | | Government National Mortgage Association, Pool #AN5756 | | | 3.00 | | | | 7/15/45 | | | | 32 | |
| | | | |
| | 260 | | | Government National Mortgage Association, Pool #AD8433 | | | 3.00 | | | | 7/15/43 | | | | 266 | |
| | | | |
| | 49 | | | Government National Mortgage Association, Pool #AG0440 | | | 3.00 | | | | 8/15/43 | | | | 50 | |
| | | | |
| | 76 | | | Government National Mortgage Association, Pool #MA0205 | | | 3.00 | | | | 7/20/27 | | | | 78 | |
| | | | |
| | 215 | | | Government National Mortgage Association, Pool #MA3309 | | | 3.00 | | | | 12/20/45 | | | | 220 | |
| | | | |
| | 23 | | | Government National Mortgage Association, Pool #MA1890 | | | 3.00 | | | | 5/20/29 | | | | 23 | |
| | | | |
| | 36 | | | Government National Mortgage Association, Pool #AK7285 | | | 3.00 | | | | 3/15/45 | | | | 37 | |
| | | | |
| | 446 | | | Government National Mortgage Association, Pool #MA4651 | | | 3.00 | | | | 8/20/47 | | | | 456 | |
| | | | |
| | 347 | | | Government National Mortgage Association, Pool #MA5018 | | | 3.00 | | | | 2/20/48 | | | | 355 | |
| | | | |
| | 314 | | | Government National Mortgage Association, Pool #MA2520 | | | 3.00 | | | | 1/20/45 | | | | 323 | |
| | | | |
| | 347 | | | Government National Mortgage Association, Pool #MA4777 | | | 3.00 | | | | 10/20/47 | | | | 355 | |
| | | | |
| | 85 | | | Government National Mortgage Association, Pool #MA3520 | | | 3.00 | | | | 3/20/46 | | | | 87 | |
| | | | |
| | 291 | | | Government National Mortgage Association, Pool #MA2147 | | | 3.00 | | | | 8/20/44 | | | | 299 | |
| | | | |
| | 89 | | | Government National Mortgage Association, Pool #MA4836 | | | 3.00 | | | | 11/20/47 | | | | 91 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #MA2797 | | | 3.00 | | | | 5/20/30 | | | | 38 | |
| | | | |
| | 224 | | | Government National Mortgage Association, Pool #MA4509 | | | 3.00 | | | | 6/20/47 | | | | 229 | |
| | | | |
| | 687 | | | Government National Mortgage Association, Pool #MA4899 | | | 3.00 | | | | 12/20/47 | | | | 702 | |
| | | | |
| | 249 | | �� | Government National Mortgage Association, Pool #MA3596 | | | 3.00 | | | | 4/20/46 | | | | 256 | |
| | | | |
| | 243 | | | Government National Mortgage Association, Pool #MA3033 | | | 3.00 | | | | 8/20/45 | | | | 249 | |
| | | | |
| | 203 | | | Government National Mortgage Association, Pool #MA2444 | | | 3.00 | | | | 12/20/44 | | | | 208 | |
| | | | |
| | 738 | | | Government National Mortgage Association, Pool #MA5076 | | | 3.00 | | | | 3/20/48 | | | | 753 | |
| | | | |
| | 120 | | | Government National Mortgage Association, Pool #MA4068 | | | 3.00 | | | | 11/20/46 | | | | 123 | |
| | | | |
| | 20 | | | Government National Mortgage Association, Pool #MA4935 | | | 3.00 | | | | 1/20/33 | | | | 21 | |
See accompanying notes to financial statements.
253
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 74 | | | Government National Mortgage Association, Pool #MA4559 | | | 3.00 | | | | 7/20/32 | | | $ | 76 | |
| | | | |
| | 184 | | | Government National Mortgage Association, Pool #MA2960 | | | 3.00 | | | | 7/20/45 | | | | 189 | |
| | | | |
| | 296 | | | Government National Mortgage Association, Pool #MA3802 | | | 3.00 | | | | 7/20/46 | | | | 302 | |
| | | | |
| | 196 | | | Government National Mortgage Association, Pool # MA4003 | | | 3.00 | | | | 10/20/46 | | | | 200 | |
| | | | |
| | 153 | | | Government National Mortgage Association, Pool #MA2753 | | | 3.00 | | | | 4/20/45 | | | | 157 | |
| | | | |
| | 231 | | | Government National Mortgage Association, Pool #MA4381 | | | 3.00 | | | | 4/20/47 | | | | 236 | |
| | | | |
| | 307 | | | Government National Mortgage Association, Pool #MA4450 | | | 3.00 | | | | 5/20/47 | | | | 314 | |
| | | | |
| | 214 | | | Government National Mortgage Association, Pool #MA3873 | | | 3.00 | | | | 8/20/46 | | | | 219 | |
| | | | |
| | 311 | | | Government National Mortgage Association, Pool #MA3936 | | | 3.00 | | | | 9/20/46 | | | | 318 | |
| | | | |
| | 27 | | | Government National Mortgage Association, Pool #MA1574 | | | 3.50 | | | | 1/20/29 | | | | 28 | |
| | | | |
| | 185 | | | Government National Mortgage Association, Pool #MA2754 | | | 3.50 | | | | 4/20/45 | | | | 192 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA1266 | | | 3.50 | | | | 9/20/28 | | | | 16 | |
| | | | |
| | 19 | | | Government National Mortgage Association, Pool #AL8566 | | | 3.50 | | | | 3/15/45 | | | | 20 | |
| | | | |
| | 344 | | | Government National Mortgage Association, Pool #MA1157 | | | 3.50 | | | | 7/20/43 | | | | 356 | |
| | | | |
| | 238 | | | Government National Mortgage Association, Pool #MA3663 | | | 3.50 | | | | 5/20/46 | | | | 247 | |
| | | | |
| | 277 | | | Government National Mortgage Association, Pool #AM4971 | | | 3.50 | | | | 4/20/45 | | | | 288 | |
| | | | |
| | 334 | | | Government National Mortgage Association, Pool #MA1090 | | | 3.50 | | | | 6/20/43 | | | | 347 | |
| | | | |
| | 302 | | | Government National Mortgage Association, Pool #MA0934 | | | 3.50 | | | | 4/20/43 | | | | 314 | |
| | | | |
| | 165 | | | Government National Mortgage Association, Pool #MA2445 | | | 3.50 | | | | 12/20/44 | | | | 171 | |
| | | | |
| | 175 | | | Government National Mortgage Association, Pool #MA0699 | | | 3.50 | | | | 1/20/43 | | | | 182 | |
| | | | |
| | 288 | | | Government National Mortgage Association, Pool #MA3597 | | | 3.50 | | | | 4/20/46 | | | | 297 | |
| | | | |
| | 396 | | | Government National Mortgage Association, Pool #MA3521 | | | 3.50 | | | | 3/20/46 | | | | 409 | |
| | | | |
| | 80 | | | Government National Mortgage Association, Pool #AD2954 | | | 3.50 | | | | 7/15/44 | | | | 83 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #796271 | | | 3.50 | | | | 7/15/42 | | | | 34 | |
| | | | |
| | 264 | | | Government National Mortgage Association, Pool #MA2678 | | | 3.50 | | | | 3/20/45 | | | | 273 | |
| | | | |
| | 160 | | | Government National Mortgage Association, Pool #MA3454 | | | 3.50 | | | | 2/20/46 | | | | 165 | |
| | | | |
| | 314 | | | Government National Mortgage Association, Pool #MA3244 | | | 3.50 | | | | 11/20/45 | | | | 325 | |
| | | | |
| | 362 | | | Government National Mortgage Association, Pool #MA4382 | | | 3.50 | | | | 4/20/47 | | | | 374 | |
| | | | |
| | 411 | | | Government National Mortgage Association, Pool #MA3173 | | | 3.50 | | | | 10/20/45 | | | | 426 | |
| | | | |
| | 352 | | | Government National Mortgage Association, Pool #MA3034 | | | 3.50 | | | | 8/20/45 | | | | 364 | |
| | | | |
| | 156 | | | Government National Mortgage Association, Pool #MA4451 | | | 3.50 | | | | 5/20/47 | | | | 160 | |
| | | | |
| | 210 | | | Government National Mortgage Association, Pool #MA2961 | | | 3.50 | | | | 7/20/45 | | | | 217 | |
| | | | |
| | 122 | | | Government National Mortgage Association, Pool #MA1919 | | | 3.50 | | | | 5/20/44 | | | | 127 | |
| | | | |
| | 133 | | | Government National Mortgage Association, Pool #AC3938 | | | 3.50 | | | | 1/15/43 | | | | 137 | |
| | | | |
| | 283 | | | Government National Mortgage Association, Pool #MA2892 | | | 3.50 | | | | 6/20/45 | | | | 294 | |
| | | | |
| | 648 | | | Government National Mortgage Association, Pool #MA0220 | | | 3.50 | | | | 7/20/42 | | | | 675 | |
| | | | |
| | 254 | | | Government National Mortgage Association, Pool #MA0088 | | | 3.50 | | | | 5/20/42 | | | | 264 | |
| | | | |
| | 202 | | | Government National Mortgage Association, Pool #MA0022 | | | 3.50 | | | | 4/20/42 | | | | 210 | |
| | | | |
| | 297 | | | Government National Mortgage Association, Pool #MA0852 | | | 3.50 | | | | 3/20/43 | | | | 309 | |
| | | | |
| | 144 | | | Government National Mortgage Association, Pool #MA1838 | | | 3.50 | | | | 4/20/44 | | | | 150 | |
| | | | |
| | 459 | | | Government National Mortgage Association, Pool #MA2073 | | | 3.50 | | | | 7/20/44 | | | | 476 | |
| | | | |
| | 641 | | | Government National Mortgage Association, Pool #MA2148 | | | 3.50 | | | | 8/20/44 | | | | 666 | |
| | | | |
| | 283 | | | Government National Mortgage Association, Pool #MA3376 | | | 3.50 | | | | 1/20/46 | | | | 293 | |
| | | | |
| | 124 | | | Government National Mortgage Association, Pool #778157 | | | 3.50 | | | | 3/15/42 | | | | 128 | |
| | | | |
| | 355 | | | Government National Mortgage Association, Pool #MA0462 | | | 3.50 | | | | 10/20/42 | | | | 369 | |
| | | | |
| | 282 | | | Government National Mortgage Association, Pool #MA2303 | | | 3.50 | | | | 10/20/44 | | | | 292 | |
| | | | |
| | 141 | | | Government National Mortgage Association, Pool #MA2371 | | | 3.50 | | | | 11/20/44 | | | | 146 | |
| | | | |
| | 211 | | | Government National Mortgage Association, Pool #MA3310 | | | 3.50 | | | | 12/20/45 | | | | 218 | |
| | | | |
| | 250 | | | Government National Mortgage Association, Pool #MA4586 | | | 3.50 | | | | 7/20/47 | | | | 258 | |
| | | | |
| | 227 | | | Government National Mortgage Association, Pool #MA3874 | | | 3.50 | | | | 8/20/46 | | | | 235 | |
| | | | |
| | 68 | | | Government National Mortgage Association, Pool #740798 | | | 3.50 | | | | 1/15/42 | | | | 71 | |
| | | | |
| | 174 | | | Government National Mortgage Association, Pool #783976 | | | 3.50 | | | | 4/20/43 | | | | 182 | |
| | | | |
| | 249 | | | Government National Mortgage Association, Pool #MA5263 | | | 3.50 | | | | 6/20/48 | | | | 257 | |
| | | | |
| | 294 | | | Government National Mortgage Association, Pool #MA4262 | | | 3.50 | | | | 2/20/47 | | | | 304 | |
See accompanying notes to financial statements.
254
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 438 | | | Government National Mortgage Association, Pool #MA4196 | | | 3.50 | | | | 1/20/47 | | | $ | 453 | |
| | | | |
| | 335 | | | Government National Mortgage Association, Pool #MA4127 | | | 3.50 | | | | 12/20/46 | | | | 347 | |
| | | | |
| | 274 | | | Government National Mortgage Association, Pool #MA4069 | | | 3.50 | | | | 11/20/46 | | | | 283 | |
| | | | |
| | 300 | | | Government National Mortgage Association, Pool #MA4004 | | | 3.50 | | | | 10/20/46 | | | | 310 | |
| | | | |
| | 218 | | | Government National Mortgage Association, Pool #MA3736 | | | 3.50 | | | | 6/20/46 | | | | 226 | |
| | | | |
| | 265 | | | Government National Mortgage Association, Pool #MA3937 | | | 3.50 | | | | 9/20/46 | | | | 274 | |
| | | | |
| | 254 | | | Government National Mortgage Association, Pool #MA3803 | | | 3.50 | | | | 7/20/46 | | | | 263 | |
| | | | |
| | 335 | | | Government National Mortgage Association, Pool #MA4321 | | | 3.50 | | | | 3/20/47 | | | | 346 | |
| | | | |
| | 352 | | | Government National Mortgage Association, Pool #MA4900 | | | 3.50 | | | | 12/20/47 | | | | 365 | |
| | | | |
| | 350 | | | Government National Mortgage Association, Pool #MA4837 | | | 3.50 | | | | 11/20/47 | | | | 361 | |
| | | | |
| | 181 | | | Government National Mortgage Association, Pool #MA4962 | | | 3.50 | | | | 1/20/48 | | | | 187 | |
| | | | |
| | 70 | | | Government National Mortgage Association, Pool #738602 | | | 3.50 | | | | 8/15/26 | | | | 72 | |
| | | | |
| | 241 | | | Government National Mortgage Association, Pool #MA4510 | | | 3.50 | | | | 6/20/47 | | | | 249 | |
| | | | |
| | 54 | | | Government National Mortgage Association, Pool #AD2416 | | | 3.50 | | | | 5/15/43 | | | | 56 | |
| | | | |
| | 463 | | | Government National Mortgage Association, Pool #MA4719 | | | 3.50 | | | | 9/20/47 | | | | 478 | |
| | | | |
| | 339 | | | Government National Mortgage Association, Pool #MA4652 | | | 3.50 | | | | 8/20/47 | | | | 350 | |
| | | | |
| | 246 | | | Government National Mortgage Association, Pool #MA4778 | | | 3.50 | | | | 10/20/47 | | | | 254 | |
| | | | |
| | 628 | | | Government National Mortgage Association, Pool #MA5136 | | | 3.50 | | | | 4/20/48 | | | | 650 | |
| | | | |
| | 120 | | | Government National Mortgage Association, Pool #BD5909 | | | 3.50 | | | | 10/15/47 | | | | 124 | |
| | | | |
| | 31 | | | Government National Mortgage Association, Pool #MA3174 | | | 4.00 | | | | 10/20/45 | | | | 33 | |
| | | | |
| | 180 | | | Government National Mortgage Association, Pool #MA3598 | | | 4.00 | | | | 4/20/46 | | | | 188 | |
| | | | |
| | 52 | | | Government National Mortgage Association, Pool #MA3106 | | | 4.00 | | | | 9/20/45 | | | | 55 | |
| | | | |
| | 192 | | | Government National Mortgage Association, Pool #MA4197 | | | 4.00 | | | | 1/20/47 | | | | 201 | |
| | | | |
| | 246 | | | Government National Mortgage Association, Pool #MA1839 | | | 4.00 | | | | 4/20/44 | | | | 260 | |
| | | | |
| | 34 | | | Government National Mortgage Association, Pool #4922 | | | 4.00 | | | | 1/20/41 | | | | 36 | |
| | | | |
| | 280 | | | Government National Mortgage Association, Pool #MA4511 | | | 4.00 | | | | 6/20/47 | | | | 291 | |
| | | | |
| | 467 | | | Government National Mortgage Association, Pool #5139 | | | 4.00 | | | | 8/20/41 | | | | 493 | |
| | | | |
| | 8 | | | Government National Mortgage Association, Pool #AJ2722 | | | 4.00 | | | | 8/15/44 | | | | 9 | |
| | | | |
| | 178 | | | Government National Mortgage Association, Pool #MA4263 | | | 4.00 | | | | 2/20/47 | | | | 185 | |
| | | | |
| | 79 | | | Government National Mortgage Association, Pool #MA2149 | | | 4.00 | | | | 8/20/44 | | | | 83 | |
| | | | |
| | 521 | | | Government National Mortgage Association, Pool #MA4587 | | | 4.00 | | | | 7/20/47 | | | | 543 | |
| | | | |
| | 80 | | | Government National Mortgage Association, Pool #MA4322 | | | 4.00 | | | | 3/20/47 | | | | 84 | |
| | | | |
| | 162 | | | Government National Mortgage Association, Pool #MA3377 | | | 4.00 | | | | 1/20/46 | | | | 171 | |
| | | | |
| | 303 | | | Government National Mortgage Association, Pool #MA4653 | | | 4.00 | | | | 8/20/47 | | | | 316 | |
| | | | |
| | 57 | | | Government National Mortgage Association, Pool #MA3455 | | | 4.00 | | | | 2/20/46 | | | | 60 | |
| | | | |
| | 141 | | | Government National Mortgage Association, Pool #MA2522 | | | 4.00 | | | | 1/20/45 | | | | 147 | |
| | | | |
| | 204 | | | Government National Mortgage Association, Pool #MA2224 | | | 4.00 | | | | 9/20/44 | | | | 212 | |
| | | | |
| | 267 | | | Government National Mortgage Association, Pool #MA4383 | | | 4.00 | | | | 4/20/47 | | | | 279 | |
| | | | |
| | 57 | | | Government National Mortgage Association, Pool #MA0155 | | | 4.00 | | | | 6/20/42 | | | | 60 | |
| | | | |
| | 106 | | | Government National Mortgage Association, Pool #MA3737 | | | 4.00 | | | | 6/20/46 | | | | 109 | |
| | | | |
| | 177 | | | Government National Mortgage Association, Pool #MA2304 | | | 4.00 | | | | 10/20/44 | | | | 184 | |
| | | | |
| | 92 | | | Government National Mortgage Association, Pool #MA5330 | | | 4.00 | | | | 7/20/48 | | | | 95 | |
| | | | |
| | 90 | | | Government National Mortgage Association, Pool #MA1996 | | | 4.00 | | | | 6/20/44 | | | | 95 | |
| | | | |
| | 240 | | | Government National Mortgage Association, Pool #MA2074 | | | 4.00 | | | | 7/20/44 | | | | 254 | |
| | | | |
| | 86 | | | Government National Mortgage Association, Pool #MA3245 | | | 4.00 | | | | 11/20/45 | | | | 91 | |
| | | | |
| | 82 | | | Government National Mortgage Association, Pool #AD5627 | | | 4.00 | | | | 4/15/43 | | | | 86 | |
| | | | |
| | 127 | | | Government National Mortgage Association, Pool #MA0319 | | | 4.00 | | | | 8/20/42 | | | | 134 | |
| | | | |
| | 49 | | | Government National Mortgage Association, Pool #AV6086 | | | 4.00 | | | | 7/15/47 | | | | 51 | |
| | | | |
| | 164 | | | Government National Mortgage Association, Pool #MA1376 | | | 4.00 | | | | 10/20/43 | | | | 174 | |
| | | | |
| | 165 | | | Government National Mortgage Association, Pool #MA1449 | | | 4.00 | | | | 11/20/43 | | | | 175 | |
| | | | |
| | 233 | | | Government National Mortgage Association, Pool #MA5466 | | | 4.00 | | | | 9/20/48 | | | | 241 | |
| | | | |
| | 93 | | | Government National Mortgage Association, Pool #MA2602 | | | 4.00 | | | | 2/20/45 | | | | 97 | |
| | | | |
| | 441 | | | Government National Mortgage Association, Pool #MA5595 | | | 4.00 | | | | 11/20/48 | | | | 458 | |
| | | | |
| | 207 | | | Government National Mortgage Association, Pool #MA1761 | | | 4.00 | | | | 3/20/44 | | | | 219 | |
See accompanying notes to financial statements.
255
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 31 | | | Government National Mortgage Association, Pool #766495 | | | 4.00 | | | | 10/15/41 | | | $ | 32 | |
| | | | |
| | 60 | | | Government National Mortgage Association, Pool #738710 | | | 4.00 | | | | 9/15/41 | | | | 62 | |
| | | | |
| | 393 | | | Government National Mortgage Association, Pool #MA5710 | | | 4.00 | | | | 1/20/49 | | | | 408 | |
| | | | |
| | 32 | | | Government National Mortgage Association, Pool #779401 | | | 4.00 | | | | 6/15/42 | | | | 34 | |
| | | | |
| | 125 | | | Government National Mortgage Association, Pool #MA1678 | | | 4.00 | | | | 2/20/44 | | | | 132 | |
| | | | |
| | 86 | | | Government National Mortgage Association, Pool #MA1286 | | | 4.00 | | | | 9/20/43 | | | | 91 | |
| | | | |
| | 150 | | | Government National Mortgage Association, Pool #713876 | | | 4.00 | | | | 8/15/39 | | | | 158 | |
| | | | |
| | 60 | | | Government National Mortgage Association, Pool #753254 | | | 4.00 | | | | 9/15/43 | | | | 63 | |
| | | | |
| | 84 | | | Government National Mortgage Association, Pool #AB1483 | | | 4.00 | | | | 8/15/42 | | | | 87 | |
| | | | |
| | 52 | | | Government National Mortgage Association, Pool #740068 | | | 4.00 | | | | 9/15/40 | | | | 55 | |
| | | | |
| | 92 | | | Government National Mortgage Association, Pool #AM8203 | | | 4.00 | | | | 5/15/45 | | | | 96 | |
| | | | |
| | 446 | | | Government National Mortgage Association, Pool #MA4452 | | | 4.00 | | | | 5/20/47 | | | | 465 | |
| | | | |
| | 63 | | | Government National Mortgage Association, Pool #MA3805 | | | 4.50 | | | | 7/20/46 | | | | 66 | |
| | | | |
| | 158 | | | Government National Mortgage Association, Pool #MA2756 | | | 4.50 | | | | 4/20/45 | | | | 166 | |
| | | | |
| | 152 | | | Government National Mortgage Association, Pool #MA4512 | | | 4.50 | | | | 6/20/47 | | | | 161 | |
| | | | |
| | 199 | | | Government National Mortgage Association, Pool #MA5467 | | | 4.50 | | | | 9/20/48 | | | | 207 | |
| | | | |
| | 373 | | | Government National Mortgage Association, Pool #MA5529 | | | 4.50 | | | | 10/20/48 | | | | 388 | |
| | | | |
| | 25 | | | Government National Mortgage Association, Pool #BC0597 | | | 4.50 | | | | 8/15/47 | | | | 27 | |
| | | | |
| | 83 | | | Government National Mortgage Association, Pool #MA4780 | | | 4.50 | | | | 10/20/47 | | | | 87 | |
| | | | |
| | 388 | | | Government National Mortgage Association, Pool #MA5596 | | | 4.50 | | | | 11/20/48 | | | | 405 | |
| | | | |
| | 164 | | | Government National Mortgage Association, Pool #MA1762 | | | 4.50 | | | | 3/20/44 | | | | 172 | |
| | | | |
| | 67 | | | Government National Mortgage Association, Pool #MA4721 | | | 4.50 | | | | 9/20/47 | | | | 70 | |
| | | | |
| | 41 | | | Government National Mortgage Association, Pool #BB7097 | | | 4.50 | | | | 8/15/47 | | | | 44 | |
| | | | |
| | 108 | | | Government National Mortgage Association, Pool #MA0701 | | | 4.50 | | | | 1/20/43 | | | | 115 | |
| | | | |
| | 316 | | | Government National Mortgage Association, Pool #MA5652 | | | 4.50 | | | | 12/20/48 | | | | 330 | |
| | | | |
| | 49 | | | Government National Mortgage Association, Pool #MA1092 | | | 4.50 | | | | 6/20/43 | | | | 52 | |
| | | | |
| | 347 | | | Government National Mortgage Association, Pool #MA5399 | | | 4.50 | | | | 8/20/48 | | | | 362 | |
| | | | |
| | 204 | | | Government National Mortgage Association, Pool #MA4384 | | | 4.50 | | | | 4/20/47 | | | | 217 | |
| | | | |
| | 36 | | | Government National Mortgage Association, Pool #738793 | | | 4.50 | | | | 9/15/41 | | | | 38 | |
| | | | |
| | 154 | | | Government National Mortgage Association, Pool #5260 | | | 4.50 | | | | 12/20/41 | | | | 164 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #MA4129 | | | 4.50 | | | | 12/20/46 | | | | 31 | |
| | | | |
| | 212 | | | Government National Mortgage Association, Pool #717148 | | | 4.50 | | | | 5/15/39 | | | | 224 | |
| | | | |
| | 472 | | | Government National Mortgage Association, Pool #721760 | | | 4.50 | | | | 8/15/40 | | | | 502 | |
| | | | |
| | 648 | | | Government National Mortgage Association, Pool #4801 | | | 4.50 | | | | 9/20/40 | | | | 690 | |
| | | | |
| | 38 | | | Government National Mortgage Association, Pool #729511 | | | 4.50 | | | | 4/15/40 | | | | 40 | |
| | | | |
| | 92 | | | Government National Mortgage Association, Pool #MA5530 | | | 5.00 | | | | 10/20/48 | | | | 96 | |
| | | | |
| | 101 | | | Government National Mortgage Association, Pool #694531 | | | 5.00 | | | | 11/15/38 | | | | 109 | |
| | | | |
| | 96 | | | Government National Mortgage Association, Pool #MA2076 | | | 5.00 | | | | 7/20/44 | | | | 102 | |
| | | | |
| | 16 | | | Government National Mortgage Association, Pool #MA0465 | | | 5.00 | | | | 10/20/42 | | | | 18 | |
| | | | |
| | 86 | | | Government National Mortgage Association, Pool #MA5400 | | | 5.00 | | | | 8/20/48 | | | | 90 | |
| | | | |
| | 29 | | | Government National Mortgage Association, Pool #675179 | | | 5.00 | | | | 3/15/38 | | | | 31 | |
| | | | |
| | 66 | | | Government National Mortgage Association, Pool #712690 | | | 5.00 | | | | 4/15/39 | | | | 70 | |
| | | | |
| | 100 | | | Government National Mortgage Association, Pool #604285 | | | 5.00 | | | | 5/15/33 | | | | 106 | |
| | | | |
| | 458 | | | Government National Mortgage Association, Pool #4559 | | | 5.00 | | | | 10/20/39 | | | | 492 | |
| | | | |
| | 27 | | | Government National Mortgage Association, Pool #782468 | | | 5.00 | | | | 11/15/38 | | | | 28 | |
| | | | |
| | 175 | | | Government National Mortgage Association, Pool #MA5080 | | | 5.00 | | | | 3/20/48 | | | | 183 | |
| | | | |
| | 188 | | | Government National Mortgage Association, Pool #782523 | | | 5.00 | | | | 11/15/35 | | | | 201 | |
| | | | |
| | 72 | | | Government National Mortgage Association, Pool #MA4007 | | | 5.00 | | | | 10/20/46 | | | | 79 | |
| | | | |
| | 199 | | | Government National Mortgage Association, Pool #MA5597 | | | 5.00 | | | | 11/20/48 | | | | 208 | |
| | | | |
| | 99 | | | Government National Mortgage Association, Pool #510835 | | | 5.50 | | | | 2/15/35 | | | | 106 | |
| | | | |
| | 33 | | | Government National Mortgage Association, Pool #658181 | | | 5.50 | | | | 11/15/36 | | | | 35 | |
| | | | |
| | 150 | | | Government National Mortgage Association, Pool #783284 | | | 5.50 | | | | 6/20/40 | | | | 158 | |
| | | | |
| | 17 | | | Government National Mortgage Association, Pool #MA0466 | | | 5.50 | | | | 10/20/42 | | | | 18 | |
| | | | |
| | 74 | | | Government National Mortgage Association, Pool #4245 | | | 6.00 | | | | 9/20/38 | | | | 84 | |
See accompanying notes to financial statements.
256
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | U.S. Government Agency Mortgages (continued) | | | | | | | | | | | | |
| | | | |
| $ | 60 | | | Government National Mortgage Association, Pool #781959 | | | 6.00 | | | | 7/15/35 | | | $ | 66 | |
| | | | |
| | 65 | | | Government National Mortgage Association, Pool #4222 | | | 6.00 | | | | 8/20/38 | | | | 74 | |
| | | | |
| | 2 | | | Government National Mortgage Association, Pool #690789 | | | 6.50 | | | | 5/15/38 | | | | 2 | |
| | | | |
| | 32 | | | Government National Mortgage Association, Pool #699237 | | | 6.50 | | | | 9/15/38 | | | | 33 | |
| | | | |
| | 200 | | | Government National Mortgage Association, 30 YR TBA | | | 3.00 | | | | 7/20/49 | | | | 204 | |
| | | | |
| | 350 | | | Government National Mortgage Association, 30 YR TBA | | | 3.50 | | | | 8/20/49 | | | | 361 | |
| | | | |
| | 2,700 | | | Government National Mortgage Association, 30 YR TBA | | | 3.50 | | | | 7/20/48 | | | | 2,787 | |
| | | | |
| | 4,550 | | | Government National Mortgage Association, 30 YR TBA | | | 4.00 | | | | 7/20/48 | | | | 4,717 | |
| | | | |
| | 300 | | | Government National Mortgage Association, 30 YR TBA | | | 4.00 | | | | 8/20/49 | | | | 311 | |
| | | | |
| | 75 | | | Government National Mortgage Association, 30 YR TBA | | | 4.50 | | | | 8/20/49 | | | | 78 | |
| | | | |
| | 2,075 | | | Government National Mortgage Association, 30 YR TBA | | | 4.50 | | | | 7/20/48 | | | | 2,161 | |
| | | | |
| | 25 | | | Government National Mortgage Association, 30 YR TBA | | | 5.00 | | | | 8/20/49 | | | | 26 | |
| | | | |
| | 625 | | | Government National Mortgage Association, 30 YR TBA | | | 5.00 | | | | 7/20/49 | | | | 653 | |
| | | | | | | | | | | | | | | | |
| | | | Total U.S. Government Agency Mortgages | | | | | | | | | | | 191,520 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Yankee Dollar — 0.04% | | | | | | | | | | | | |
| | | | |
| | 91 | | | Bank of Nova Scotia (Banks) | | | 2.13 | | | | 9/11/19 | | | | 91 | |
| | | | | | | | | | | | | | | | |
| | | | Total Yankee Dollar | | | | | | | | | | | 91 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Company — 17.11% | | | | | | | | | | | | |
| | | | |
| | 37,026,589 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (b) | | | | | | | 37,027 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Company | | | | | | | | | | | 37,027 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments Before TBA Sale Commitments (cost $243,671) — 113.45% | | | | | | | | | | | 245,503 | |
| | | | |
Principal
Amount
(000) | | | | | | | | | | | | |
| | | | |
| | | | TBA Sale Commitments (c) — (0.05)% | | | | | | | | | | | | |
| | | | |
| $ | (100 | ) | | Fannie Mae, 30 YR TBA | | | 5.50 | | | | 7/25/48 | | | | (107 | ) |
| | | | | | | | | | | | | | | | |
| | | | Total TBA Sale Commitments | | | | | | | | | | | (107 | ) |
| | | | | | | | | | | | | | | | |
| | | | Liabilities in excess of other assets — (13.40)% | | | | | | | | | | | (28,993 | ) |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 216,403 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (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 disclosed is the rate in effect on June 30, 2019. |
| (b) | The rate disclosed is the rate in effect on June 30, 2019. |
| (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.
257
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — June 30, 2019
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | | Mellon
Investments
Corporation* | | | HC Capital
Solutions | | | Total | |
Asset Backed Securities | | | 1.47 | % | | | — | | | | 1.47 | % |
Collateralized Mortgage Obligations | | | 6.33 | % | | | — | | | | 6.33 | % |
U.S. Government Agency Mortgages | | | 88.50 | % | | | — | | | | 88.50 | % |
Yankee Dollar | | | 0.04 | % | | | — | | | | 0.04 | % |
Investment Company | | | 13.63 | % | | | 3.48 | % | | | 17.11 | % |
TBA Sale Commitments | | | -0.05 | % | | | — | | | | -0.05 | % |
Other Assets (Liabilities) | | | -13.17 | % | | | -0.23 | % | | | -13.40 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 96.75 | % | | | 3.25 | % | | | 100.00 | % |
| | | | | | | | | | | | |
| * | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
258
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds — 98.91% | | | | | | | | | | | | |
| | | | |
| | | | Alabama — 3.41% | | | | | | | | | | | | |
| | | | |
| $ | 445 | | | Alabama Public School & College Authority Revenue, Series C | | | 5.00 | | | | 9/1/19 | | | $ | 447 | |
| | | | |
| | 2,025 | | | County of Baldwin Alabama, GO, Callable 11/1/24 @ 100.00 | | | 5.00 | | | | 5/1/25 | | | | 2,383 | |
| | | | |
| | 710 | | | University of Alabama Revenue, Series A, Callable 7/1/22 @ 100.00 | | | 5.00 | | | | 7/1/23 | | | | 786 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,616 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Alaska — 1.41% | | | | | | | | | | | | |
| | | | |
| | 1,385 | | | Municipality of Anchorage Alaska, GO, Series B | | | 5.00 | | | | 9/1/21 | | | | 1,494 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Arizona — 3.96% | | | | | | | | | | | | |
| | | | |
| | 1,350 | | | Maricopa County Unified School District No. 41 Gilbert, GO, Series C | | | 5.00 | | | | 7/1/25 | | | | 1,620 | |
| | | | |
| | 1,590 | | | Maricopa County Unified School District No. 48 Scottsdale, GO, Series48-B,
Callable 7/1/21 @ 100.00 | | | 4.25 | | | | 7/1/25 | | | | 1,681 | |
| | | | |
| | 805 | | | County of Pima Arizona Sewer System Revenue | | | 5.00 | | | | 7/1/23 | | | | 918 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 4,219 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Arkansas — 2.45% | | | | | | | | | | | | |
| | | | |
| | 2,295 | | | Rogers School District No. 30, GO, Callable 8/1/24 @ 100.00 (State Aid Withholding) | | | 4.00 | | | | 2/1/26 | | | | 2,589 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Connecticut — 1.23% | | | | | | | | | | | | |
| | | | |
| | 1,200 | | | State of Connecticut, GO, Series A | | | 5.00 | | | | 4/15/22 | | | | 1,311 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | District of Columbia — 2.21% | | | | | | | | | | | | |
| | | | |
| | 2,000 | | | District of Columbia, GO, Series D | | | 5.00 | | | | 6/1/24 | | | | 2,347 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Florida — 13.18% | | | | | | | | | | | | |
| | | | |
| | 1,245 | | | School District of Broward County Florida Revenue, Series A | | | 5.00 | | | | 7/1/20 | | | | 1,290 | |
| | | | |
| | 1,400 | | | State of Florida Lottery Revenue, Series A | | | 5.00 | | | | 7/1/20 | | | | 1,451 | |
| | | | |
| | 1,110 | | | State of Florida, GO, Series D | | | 5.00 | | | | 6/1/20 | | | | 1,147 | |
| | | | |
| | 1,645 | | | State of Florida Department of Management Services Refunding Certificates of Participation, Series A | | | 5.00 | | | | 11/1/23 | | | | 1,888 | |
| | | | |
| | 400 | | | State of Florida Department of Environmental Protection Preservation Revenue, Series A | | | 5.00 | | | | 7/1/20 | | | | 415 | |
| | | | |
| | 950 | | | State of Florida Department of Education Revenue, Series A | | | 5.00 | | | | 7/1/22 | | | | 1,053 | |
| | | | |
| | 1,950 | | | State of Florida Turnpike Enterprise Revenue, Series B | | | 5.00 | | | | 7/1/21 | | | | 2,093 | |
| | | | |
| | 425 | | | JEA Florida Electric System Revenue, Series D | | | 5.00 | | | | 10/1/22 | | | | 469 | |
| | | | |
| | 800 | | | JEA Florida Water & Sewer System Revenue, Series A | | | 5.00 | | | | 10/1/20 | | | | 837 | |
| | | | |
| | 1,000 | | | County of Miami-Dade Florida, GO | | | 5.00 | | | | 7/1/21 | | | | 1,073 | |
| | | | |
| | 2,105 | | | Tohopekaliga Water Authority Utility System Revenue, Series A
(Pre-Refunded/Escrowed to Maturity) | | | 5.25 | | | | 10/1/36 | | | | 2,287 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 14,003 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Georgia — 4.30% | | | | | | | | | | | | |
| | | | |
| | 2,000 | | | Bulloch County Board of Education, GO (State Aid Withholding) | | | 5.00 | | | | 5/1/21 | | | | 2,133 | |
| | | | |
| | 2,375 | | | State of Georgia, GO, Series D | | | 5.00 | | | | 2/1/20 | | | | 2,427 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 4,560 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Hawaii — 0.43% | | | | | | | | | | | | |
| | | | |
| | 425 | | | State of Hawaii, GO, Series EO | | | 5.00 | | | | 8/1/21 | | | | 457 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Illinois — 0.86% | | | | | | | | | | | | |
| | | | |
| | 425 | | | McHenry County Illinois Conservation District, GO | | | 5.00 | | | | 2/1/20 | | | | 434 | |
| | | | |
| | 475 | | | Northbrook Illinois, GO, Series A | | | 5.00 | | | | 12/1/19 | | | | 482 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 916 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Iowa — 3.32% | | | | | | | | | | | | |
| | | | |
| | 1,155 | | | City of Ankeny, GO, Series A | | | 5.00 | | | | 6/1/21 | | | | 1,235 | |
| | | | |
| | 1,440 | | | Ankeny Community School District, GO | | | 5.00 | | | | 6/1/23 | | | | 1,637 | |
| | | | |
| | 550 | | | Linn-Mar Community School District, GO, Callable 5/1/26 @ 100.00 | | | 5.00 | | | | 5/1/27 | | | | 664 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,536 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
259
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Kentucky — 0.75% | | | | | | | | | | | | |
| | | | |
| $ | 685 | | | University of Kentucky, GO, Series A, Callable 4/1/24 @ 100.00 (State Intercept) | | | 5.00 | | | | 4/1/25 | | | $ | 800 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Maine — 1.37% | | | | | | | | | | | | |
| | | | |
| | 1,340 | | | Maine Municipal Bond Bank Revenue, Series B | | | 5.00 | | | | 11/1/21 | | | | 1,453 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Maryland — 1.46% | | | | | | | | | | | | |
| | | | |
| | 450 | | | Maryland State, GO, Series A | | | 5.00 | | | | 3/1/20 | | | | 461 | |
| | | | |
| | 1,000 | | | University System of Maryland, GO, Series A | | | 5.00 | | | | 4/1/22 | | | | 1,099 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 1,560 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Michigan — 1.48% | | | | | | | | | | | | |
| | | | |
| | 1,040 | | | State of Michigan Trunk Line Revenue | | | 5.00 | | | | 11/15/19 | | | | 1,054 | |
| | | | |
| | 500 | | | Oakland University Michigan Revenue | | | 5.00 | | | | 3/1/21 | | | | 530 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 1,584 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Minnesota — 0.50% | | | | | | | | | | | | |
| | | | |
| | 525 | | | Minnesota Higher Education Facilities Authority Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 10/1/21 | | | | 530 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Missouri — 1.07% | | | | | | | | | | | | |
| | | | |
| | 1,125 | | | University of Missouri Revenue, Series A | | | 5.00 | | | | 11/1/19 | | | | 1,139 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Nebraska — 1.09% | | | | | | | | | | | | |
| | | | |
| | 1,140 | | | Nebraska State Public Power District Revenue, Series A | | | 4.00 | | | | 1/1/20 | | | | 1,156 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Nevada — 2.02% | | | | | | | | | | | | |
| | | | |
| | 1,765 | | | County of Clark Department of Aviation Revenue, Series A | | | 5.00 | | | | 7/1/21 | | | | 1,891 | |
| | | | |
| | 250 | | | Clark County, Nevada Highway Revenue | | | 5.00 | | | | 7/1/20 | | | | 259 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,150 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New Jersey — 2.34% | | | | | | | | | | | | |
| | | | |
| | 375 | | | Middlesex County Improvement Authority Revenue(CNTY-GTD) | | | 3.00 | | | | 9/1/20 | | | | 382 | |
| | | | |
| | 130 | | | South Brunswick Township New Jersey, GO | | | 4.00 | | | | 9/1/20 | | | | 134 | |
| | | | |
| | 1,945 | | | County of Union New Jersey, GO, Series A&B | | | 3.00 | | | | 3/1/20 | | | | 1,966 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,482 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New Mexico — 2.47% | | | | | | | | | | | | |
| | | | |
| | 2,100 | | | County of Bernalillo New Mexico, GO | | | 5.00 | | | | 8/15/20 | | | | 2,182 | |
| | | | |
| | 450 | | | State of New Mexico Severance Tax Permanent Fund Revenue, Series A | | | 5.00 | | | | 7/1/19 | | | | 450 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,632 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New York — 7.54% | | | | | | | | | | | | |
| | | | |
| | 2,190 | | | Metropolitan Transportation Authority Revenue, Series A | | | 4.00 | | | | 2/3/20 | | | | 2,221 | |
| | | | |
| | 1,990 | | | New York City Fiscal 2019, GO, Series A | | | 5.00 | | | | 8/1/20 | | | | 2,069 | |
| | | | |
| | 385 | | | New York City Transitional Finance Authority Future Tax Secured Revenue | | | 5.00 | | | | 11/1/21 | | | | 418 | |
| | | | |
| | 900 | | | New York City Transitional Finance Authority Future Tax Secured Revenue, Series C1 | | | 5.00 | | | | 5/1/21 | | | | 961 | |
| | | | |
| | 250 | | | New York City Municipal Water Finance Authority Water & Sewer System Revenue,
Callable 12/15/21 @ 100.00 | | | 5.00 | | | | 6/15/23 | | | | 273 | |
| | | | |
| | 405 | | | New York State Dormitory Authority Revenue, Series A | | | 5.00 | | | | 2/15/24 | | | | 473 | |
| | | | |
| | 1,400 | | | New York State Dormitory Authority, Revenue, Series B | | | 5.00 | | | | 2/15/23 | | | | 1,588 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 8,003 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | North Carolina — 1.85% | | | | | | | | | | | | |
| | | | |
| | 375 | | | State of North Carolina Revenue | | | 5.00 | | | | 3/1/23 | | | | 425 | |
| | | | |
| | 1,470 | | | North Carolina State University at Raleigh Revenue | | | 5.00 | | | | 10/1/20 | | | | 1,537 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 1,962 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Ohio — 2.98% | | | | | | | | | | | | |
| | | | |
| | 1,020 | | | Allen County Ohio Hospital(Pre-Refunded/Escrowed to Maturity) | | | 5.25 | | | | 9/1/27 | | | | 1,066 | |
| | | | |
| | 1,930 | | | Cleveland Department of Public Utilities Division of Water Revenue, Series D | | | 5.00 | | | | 1/1/22 | | | | 2,102 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,168 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
260
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Oklahoma — 1.11% | | | | | | | | | | | | |
| | | | |
| $ | 1,145 | | | Grand River Dam Authority, Revenue, Series A | | | 5.00 | | | | 6/1/20 | | | $ | 1,183 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Oregon — 0.59% | | | | | | | | | | | | |
| | | | |
| | 590 | | | Multnomah County School District No. 1 Portland, GO, Series B (SCH BD GTY) | | | 5.00 | | | | 6/15/21 | | | | 632 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Pennsylvania — 0.52% | | | | | | | | | | | | |
| | | | |
| | 525 | | | Philadelphia Pennsylvania Authority For Industrial Development Temple University Revenue, Series 2016 | | | 5.00 | | | | 4/1/21 | | | | 557 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | South Carolina — 1.69% | | | | | | | | | | | | |
| | | | |
| | 1,635 | | | Aiken County Consolidated School District South Carolina, GO, Series B (SCSDE) | | | 5.00 | | | | 4/1/22 | | | | 1,796 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | South Dakota — 0.39% | | | | | | | | | | | | |
| | | | |
| | 395 | | | City of Sioux Falls South Dakota Sales Tax Revenue, Series A | | | 5.00 | | | | 11/15/20 | | | | 415 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Tennessee — 0.35% | | | | | | | | | | | | |
| | | | |
| | 350 | | | City of Clarksville Tennessee Water Sewer & Gas Revenue | | | 5.00 | | | | 2/1/21 | | | | 370 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Texas — 15.28% | | | | | | | | | | | | |
| | | | |
| | 1,255 | | | City of Arlington Texas, GO, Series A | | | 5.00 | | | | 8/15/22 | | | | 1,396 | |
| | | | |
| | 1,015 | | | Conroe Independent School District, GO(PSF-GTD) | | | 5.00 | | | | 2/15/25 | | | | 1,209 | |
| | | | |
| | 685 | | | Cypress-Fairbanks Independent School District, GO, Series C(PSF-GTD) | | | 5.00 | | | | 2/15/22 | | | | 750 | |
| | | | |
| | 660 | | | Dallas Area Rapid Transit Revenue, Series A | | | 5.00 | | | | 12/1/24 | | | | 784 | |
| | | | |
| | 450 | | | Goose Creek Texas Consolidated Independent School District, GO, Callable 2/15/21 @ 100.00(PSF-GTD) | | | 5.00 | | | | 2/15/22 | | | | 476 | |
| | | | |
| | 2,250 | | | City of Grand Prairie Texas, GO | | | 5.00 | | | | 2/15/22 | | | | 2,463 | |
| | | | |
| | 2,225 | | | City of Grapevine Texas, GO | | | 4.00 | | | | 2/15/20 | | | | 2,258 | |
| | | | |
| | 430 | | | Harris County Toll Road Authority Revenue, Series B | | | 5.00 | | | | 8/15/22 | | | | 478 | |
| | | | |
| | 690 | | | Katy Independent School District, GO, Series B(PSF-GTD) | | | 5.00 | | | | 2/15/22 | | | | 755 | |
| | | | |
| | 625 | | | North East Independent School District Texas, GO(PSF-GTD) | | | 5.00 | | | | 8/1/22 | | | | 694 | |
| | | | |
| | 1,875 | | | North Texas Municipal Water District Water System Revenue | | | 5.25 | | | | 9/1/19 | | | | 1,887 | |
| | | | |
| | 1,150 | | | Round Rock Independent School District, GO(PSF-GTD) | | | 5.00 | | | | 8/1/25 | | | | 1,386 | |
| | | | |
| | 950 | | | State of Texas, GO, Series C | | | 1.78 | | | | 10/1/20 | | | | 948 | |
| | | | |
| | 705 | | | County of Travis Texas, GO | | | 5.00 | | | | 3/1/21 | | | | 748 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 16,232 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Virginia — 1.31% | | | | | | | | | | | | |
| | | | |
| | 360 | | | Virginia Commonwealth Transportation Board Revenue, Series A | | | 5.00 | | | | 3/15/20 | | | | 369 | |
| | | | |
| | 1,020 | | | Virginia Housing Development Authority Revenue, Series A, Callable 9/1/19 @ 100.00 | | | 2.05 | | | | 3/1/22 | | | | 1,021 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 1,390 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Washington — 7.74% | | | | | | | | | | | | |
| | | | |
| | 1,050 | | | Public Utility District No. 1 of Benton County Revenue | | | 5.00 | | | | 11/1/19 | | | | 1,063 | |
| | | | |
| | 1,085 | | | King County Washington School District No. 405, GO, Series B (SCH BD GTY) | | | 5.00 | | | | 12/1/24 | | | | 1,289 | |
| | | | |
| | 1,300 | | | King County School District No. 411 Issaquah, GO (SCH BD GTY) | | | 4.00 | | | | 12/1/20 | | | | 1,348 | |
| | | | |
| | 215 | | | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 1/1/22 | | | | 223 | |
| | | | |
| | 135 | | | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 1/1/22 | | | | 140 | |
| | | | |
| | 1,735 | | | City of Seattle Washington Municipal Light & Power Revenue, Series A | | | 5.00 | | | | 1/1/24 | | | | 2,012 | |
| | | | |
| | 500 | | | Tacoma Washington Electric System Revenue, Series A | | | 4.00 | | | | 1/1/20 | | | | 506 | |
| | | | |
| | 820 | | | State of Washington Revenue, Series F | | | 5.00 | | | | 9/1/22 | | | | 914 | |
| | | | |
| | 365 | | | State of Washington Revenue, Series A | | | 5.00 | | | | 7/1/20 | | | | 377 | |
| | | | |
| | 365 | | | Washington State, GO, Series A | | | 5.00 | | | | 8/1/19 | | | | 366 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 8,238 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Wisconsin — 6.25% | | | | | | | | | | | | |
| | | | |
| | 1,125 | | | City of Janesville Wisconsin, GO | | | 3.00 | | | | 2/1/20 | | | | 1,135 | |
| | | | |
| | 380 | | | City of Milwaukee Wisconsin, GO, Series N4&B5 | | | 5.00 | | | | 4/1/23 | | | | 429 | |
| | | | |
| | 1,000 | | | Stevens Point Area Public School District Wisconsin, GO | | | 5.00 | | | | 4/1/24 | | | | 1,164 | |
| | | | |
| | 525 | | | Wisconsin Energy Power Supply Revenue, Series A | | | 5.00 | | | | 7/1/22 | | | | 581 | |
See accompanying notes to financial statements.
261
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Wisconsin (continued) | | | | | | | | | | | | |
| | | | |
| $ | 1,630 | | | Wauwatosa School District, GO, Series A | | | 4.00 | | | | 3/1/21 | | | $ | 1,700 | |
| | | | |
| | 880 | | | State of Wisconsin Clean Water Fund Leveraged Loan Portfolio Revenue, Series 1 | | | 4.00 | | | | 6/1/21 | | | | 925 | |
| | | | |
| | 665 | | | Wisconsin Health & Educational Facilities Authority Revenue | | | 5.00 | | | | 11/15/20 | | | | 698 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,632 | |
| | | | | | | | | | | | | | | | |
| | | | Total Municipal Bonds | | | | | | | | | | | 105,112 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Company — 3.92% | | | | | | | | | | | | |
| | | | |
| | 4,171,373 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (a) | | | | | | | 4,171 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Company | | | | | | | | | | | 4,171 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $107,989) — 102.83% | | | | | | | | | | | 109,283 | |
| | | | Liabilities in excess of other assets — (2.83)% | | | | | | | | | | | (3,009 | ) |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 106,274 | |
| | | | | | | | | | | | | | | | |
| (a) | The rate disclosed is the rate in effect on June 30, 2019. |
CNTY-GTD — County Guarantee
GO — General Obligation
PSF-GTD — Public School Fund Guaranteed
SCH BD GTY — School Board Guaranty
SCSDE — Insured by South Carolina School Discount Enhancement
As of June 30, 2019, 100% of the Portfolio’s net assets were managed by Breckinridge Capital Advisors, Inc.
See accompanying notes to financial statements.
262
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds — 88.66% | | | | | | | | | | | | |
| | | | |
| | | | Alabama — 0.69% | | | | | | | | | | | | |
| | | | |
| $ | 1,400 | | | Birmingham Alabama Water Works Board Water Revenue, Series B | | | 5.00 | | | | 1/1/24 | | | $ | 1,612 | |
| | | | |
| | 1,000 | | | Jefferson County Alabama Revenue | | | 5.00 | | | | 9/15/22 | | | | 1,107 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,719 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Alaska — 0.59% | | | | | | | | | | | | |
| | | | |
| | 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 | | | | 2,332 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Arizona — 0.61% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Maricopa County High School District No.210-Phoenix, GO | | | 5.00 | | | | 7/1/25 | | | | 1,200 | |
| | | | |
| | 1,000 | | | Salt Verde Arizona Financial Corp. Senior Gas Revenue (Citigroup, Inc.) | | | 5.25 | | | | 12/1/24 | | | | 1,163 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,363 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Arkansas — 0.34% | | | | | | | | | | | | |
| | | | |
| | 1,200 | | | Arkansas State Development Finance Authority Hospital Revenue, Series B | | | 5.00 | | | | 2/1/23 | | | | 1,330 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | California — 3.58% | | | | | | | | | | | | |
| | | | |
| | 1,500 | | | California State, GO | | | 5.00 | | | | 8/1/24 | | | | 1,776 | |
| | | | |
| | 1,750 | | | State of California, GO, Callable 4/1/29 @ 100.00 | | | 5.00 | | | | 4/1/30 | | | | 2,252 | |
| | | | |
| | 1,065 | | | California State Department of Water Resources Revenue, Central Valley Project Continuously Callable @ 100.00 | | | 5.25 | | | | 7/1/22 | | | | 1,068 | |
| | | | |
| | 4,155 | | | California State Public Works Board Lease Revenue, Series D | | | 5.00 | | | | 4/1/24 | | | | 4,862 | |
| | | | |
| | 2,460 | | | Golden State Tobacco Securitization Corp. California Tobacco Settlement Revenue,Series A-1 | | | 5.00 | | | | 6/1/26 | | | | 2,891 | |
| | | | |
| | 1,000 | | | Los Angeles California Department of Airports Revenue | | | 5.00 | | | | 5/15/23 | | | | 1,139 | |
| | | | |
| | 65 | | | University of California Revenue, Series Q Continuously Callable @ 100.00 | | | 5.25 | | | | 5/15/23 | | | | 65 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 14,053 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Colorado — 4.30% | | | | | | | | | | | | |
| | | | |
| | 5,000 | | | Colorado State Health Facilities Authority Revenue, Catholic Health Initiatives, SeriesD-3 | | | 5.00 | (a) | | | 10/1/38 | | | | 5,388 | |
| | | | |
| | 1,225 | | | Colorado State Board of Governors University Enterprise System Revenue, SeriesE-2 | | | 5.00 | | | | 3/1/25 | | | | 1,477 | |
| | | | |
| | 2,970 | | | Denver City & County School District No. 1, GO, Series A (State Aid Withholding) | | | 5.50 | | | | 12/1/25 | | | | 3,706 | |
| | | | |
| | 1,750 | | | Denver City & County Colorado Airport System Revenue, Series A | | | 5.00 | | | | 11/15/23 | | | | 2,020 | |
| | | | |
| | 3,600 | | | Denver City & County Colorado Airport System Revenue, Series A | | | 5.00 | | | | 12/1/25 | | | | 4,321 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 16,912 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Connecticut — 1.85% | | | | | | | | | | | | |
| | | | |
| | 3,000 | | | State of Connecticut, GO, Series A, Callable 10/15/23 @ 100.00 | | | 5.00 | | | | 10/15/25 | | | | 3,402 | |
| | | | |
| | 1,000 | | | Connecticut State Health & Educational Facilities Authority Revenue, Series B | | | 5.00 | | | | 12/1/26 | | | | 1,192 | |
| | | | |
| | 2,500 | | | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series A | | | 5.00 | | | | 9/1/21 | | | | 2,692 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 7,286 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | District of Columbia — 0.79% | | | | | | | | | | | | |
| | | | |
| | 1,500 | | | District of Columbia University Revenue | | | 5.00 | | | | 4/1/25 | | | | 1,784 | |
| | | | |
| | 1,200 | | | Metropolitan Washington Airports Authority Revenue, Series A (AMT) | | | 5.00 | | | | 10/1/22 | | | | 1,330 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,114 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Florida — 4.06% | | | | | | | | | | | | |
| | | | |
| | 1,415 | | | Florida Higher Educational Facilities Financial Authority Revenue | | | 5.00 | | | | 3/1/26 | | | | 1,650 | |
| | | | |
| | 1,285 | | | Greater Orlando Florida Aviation Authority Airport Facilities Revenue, Series A | | | 5.00 | | | | 10/1/21 | | | | 1,383 | |
| | | | |
| | 1,615 | | | Lee County Florida Solid Waste System Revenue | | | 5.00 | | | | 10/1/22 | | | | 1,779 | |
| | | | |
| | 1,500 | | | Lee County Florida Solid Waste System Revenue (AMT) | | | 5.00 | | | | 10/1/25 | | | | 1,763 | |
| | | | |
| | 3,250 | | | Orange County Florida Tourist Development Tax Revenue, Series B | | | 5.00 | | | | 10/1/25 | | | | 3,948 | |
| | | | |
| | 1,500 | | | Palm Beach County Florida Health Facilities Authority Revenue | | | 5.00 | | | | 11/15/21 | | | | 1,610 | |
| | | | |
| | 1,845 | | | Palm Beach County Florida School Board, Series D | | | 5.00 | | | | 8/1/21 | | | | 1,981 | |
| | | | |
| | 1,750 | | | South Florida Water Management District Corps, Certificate of Participation | | | 5.00 | | | | 10/1/21 | | | | 1,885 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 15,999 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
263
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Georgia — 2.22% | | | | | | | | | | | | |
| | | | |
| $ | 1,000 | | | Atlanta Georgia Development Authority Revenue, SeriesA-1 | | | 5.00 | | | | 7/1/23 | | | $ | 1,133 | |
| | | | |
| | 1,250 | | | Fulton County Georgia Development Authority Revenue, Series A | | | 5.00 | | | | 7/1/23 | | | | 1,422 | |
| | | | |
| | 1,600 | | | Fulton County Georgia Development Authority Revenue, Series A | | | 5.00 | | | | 7/1/24 | | | | 1,868 | |
| | | | |
| | 3,050 | | | Georgia State Municipal Gas Authority Revenue, Gas Portfolio III Project, Series U | | | 5.00 | | | | 10/1/21 | | | | 3,292 | |
| | | | |
| | 1,000 | | | Main Street Natural Gas, Inc. Revenue, Series B, Callable 6/1/23 @ 100.00 | |
| 2.39 (US0001M
+ 75.00 bps) |
(b) | | | 4/1/48 | | | | 1,001 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 8,716 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Illinois — 4.87% | | | | | | | | | | | | |
| | | | |
| | 90 | | | Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey / Narragansett Project, Series NT Continuously Callable @ 100.00 | | | 7.46 | | | | 2/15/26 | | | | 70 | |
| | | | |
| | 1,725 | | | Metropolitan Water Reclamation District of Greater Chicago, GO, Series B | | | 5.00 | | | | 12/1/24 | | | | 2,016 | |
| | | | |
| | 1,000 | | | City of Chicago Illinois Waterworks Revenue | | | 5.00 | | | | 11/1/25 | | | | 1,133 | |
| | | | |
| | 1,000 | | | City of Chicago Illinois Waterworks Revenue | | | 5.00 | | | | 11/1/24 | | | | 1,154 | |
| | | | |
| | 1,000 | | | City of Chicago Illinois Waterworks Revenue, Callable 11/1/22 @ 100.00 | | | 5.00 | | | | 11/1/24 | | | | 1,088 | |
| | | | |
| | 1,240 | | | Illinois State Finance Authority Revenue, Series B | | | 5.00 | | | | 5/1/22 | | | | 1,354 | |
| | | | |
| | 4,600 | | | Illinois State Sales Tax Revenue, Series A | | | 5.00 | | | | 6/15/25 | | | | 5,354 | |
| | | | |
| | 750 | | | Northern Illinois Municipal Power Agency Project Revenue, Series A | | | 5.00 | | | | 12/1/22 | | | | 837 | |
| | | | |
| | 2,000 | | | Railsplitter Tobacco Settlement Authority Revenue | | | 5.00 | | | | 6/1/22 | | | | 2,184 | |
| | | | |
| | 2,000 | | | Regional Transportation Authority Revenue | | | 6.00 | | | | 6/1/25 | | | | 2,393 | |
| | | | |
| | 1,450 | | | University of Illinois Revenue, Series C, Callable 10/1/21 @ 100.00 | | | 5.00 | | | | 4/1/25 | | | | 1,559 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 19,142 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Indiana — 2.58% | | | | | | | | | | | | |
| | | | |
| | 2,250 | | | Indiana Finance Authority Revenue, Series B, Callable 1/1/25 @ 100.00 | | | 2.25 | (a) | | | 12/1/58 | | | | 2,323 | |
| | | | |
| | 1,150 | | | Indiana Finance Authority Revenue, Series A | | | 5.00 | | | | 11/1/23 | | | | 1,315 | |
| | | | |
| | 1,000 | | | Indiana Finance Authority Revenue, Series A | | | 5.00 | | | | 11/1/24 | | | | 1,172 | |
| | | | |
| | 1,500 | | | Indiana Finance Authority Revenue, Series A | | | 3.13 | | | | 12/1/24 | | | | 1,599 | |
| | | | |
| | 1,000 | | | Indiana State Finance Authority Revenue, Stadium Project, Series A | | | 5.00 | | | | 2/1/23 | | | | 1,125 | |
| | | | |
| | 2,250 | | | Whiting Indiana Environmental Facilities Revenue | | | 5.00 | (a) | | | 11/1/47 | | | | 2,576 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 10,110 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Kentucky — 2.13% | | | | | | | | | | | | |
| | | | |
| | 3,160 | | | Kentucky Public Energy Authority Revenue, Series A | | | 4.00 | | | | 4/1/23 | | | | 3,434 | |
| | | | |
| | 1,000 | | | Kentucky Public Energy Authority Revenue, Series A, Callable 1/2/24 @ 100.40 | | | 4.00 | | | | 4/1/24 | | | | 1,103 | |
| | | | |
| | 3,500 | | | Kentucky Public Energy Authority Revenue, Series B, Callable 10/1/24 @ 100.24 | | | 4.00 | | | | 1/1/49 | | | | 3,858 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 8,395 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Louisiana — 0.80% | | | | | | | | | | | | |
| | 2,850 | | | Louisiana State Citizens Property Insurance Corp. Revenue (AGM) | | | 5.00 | | | | 6/1/22 | | | | 3,141 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Maine — 0.31% | | | | | | | | | | | | |
| | 1,025 | | | Finance Authority of Maine Revenue | | | 5.00 | | | | 12/1/26 | | | | 1,213 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Maryland — 3.03% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Maryland State Health & Higher Educational Facilities Authority Revenue, Series B | | | 5.00 | | | | 7/1/22 | | | | 1,106 | |
| | | | |
| | 1,000 | | | Maryland State Economic Development Corp. Private Activity Revenue, Series A, Callable 11/30/21 @ 100.00 (AMT) | | | 5.00 | | | | 3/31/24 | | | | 1,077 | |
| | | | |
| | 4,040 | | | Maryland State Stadium Authority Revenue | | | 5.00 | | | | 5/1/24 | | | | 4,724 | |
| | | | |
| | 2,090 | | | Maryland State Transportation Authority Revenue (AMT) | | | 5.00 | | | | 6/1/28 | | | | 2,602 | |
| | | | |
| | 2,110 | | | Montgomery County Maryland, GO, Series A | | | 5.00 | | | | 12/1/23 | | | | 2,444 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 11,953 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Massachusetts — 0.76% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Massachusetts State Educational Financing Authority Revenue (AMT) | | | 5.00 | | | | 1/1/25 | | | | 1,161 | |
| | | | |
| | 1,615 | | | Massachusetts State Educational Financing Authority Revenue, Series A (AMT) | | | 5.00 | | | | 7/1/23 | | | | 1,814 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,975 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Michigan — 4.11% | | | | | | | | | | | | |
| | | | |
| | 1,810 | | | Great Lakes Michigan Water Authority Sewage Disposal System Revenue, Series B | | | 5.00 | | | | 7/1/24 | | | | 2,097 | |
See accompanying notes to financial statements.
264
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Michigan (continued) | | | | | | | | | | | | |
| | | | |
| $ | 2,000 | | | Michigan State Finance Authority Revenue, Detroit School District, Series A(Q-SBLF) | | | 5.00 | | | | 5/1/21 | | | $ | 2,127 | |
| | | | |
| | 1,000 | | | Michigan Finance Authority Revenue, Callable 6/1/25 @ 100.00 | | | 5.50 | | | | 12/1/29 | | | | 1,197 | |
| | | | |
| | 4,000 | | | Michigan State Finance Authority Revenue, SeriesD-1 (AGM) | | | 5.00 | | | | 7/1/21 | | | | 4,257 | |
| | | | |
| | 1,000 | | | Michigan State Finance Authority Revenue, SeriesD-1 | | | 5.00 | | | | 7/1/21 | | | | 1,072 | |
| | | | |
| | 1,605 | | | Michigan Strategic Fund Revenue | | | 5.00 | | | | 6/30/25 | | | | 1,853 | |
| | | | |
| | 2,960 | | | Utica Community Schools, GO(Q-SBLF) | | | 5.00 | | | | 5/1/26 | | | | 3,572 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 16,175 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Minnesota — 0.33% | | | | | | | | | | | | |
| | 1,200 | | | Minneapolis-Saint Paul Minnesota Metropolitan Airports Commission Revenue, Series B | | | 5.00 | | | | 1/1/22 | | | | 1,303 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Missouri — 1.01% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Missouri State Health & Educational Facilities Authority Revenue | | | 5.00 | | | | 11/15/23 | | | | 1,149 | |
| | | | |
| | 2,400 | | | Health & Educational Facilities Authority of the State of Missouri Revenue | | | 5.00 | | | | 6/1/25 | | | | 2,845 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,994 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Nevada — 1.61% | | | | | | | | | | | | |
| | | | |
| | 3,470 | | | Clark County Nevada School District, GO, Series A | | | 5.00 | | | | 6/15/23 | | | | 3,930 | |
| | | | |
| | 1,000 | | | Clark County Nevada School District, GO, Series A | | | 5.00 | | | | 6/15/26 | | | | 1,213 | |
| | | | |
| | 1,000 | | | State of Nevada Highway Improvement Revenue | | | 5.00 | | | | 12/1/24 | | | | 1,187 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,330 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New Jersey — 4.06% | | | | | | | | | | | | |
| | | | |
| | 3,750 | | | New Jersey State Economic Development Authority Revenue, School Facilities Construction, Series NN | | | 5.00 | | | | 3/1/21 | | | | 3,930 | |
| | | | |
| | 5,000 | | | New Jersey State Higher Education Assistance Authority Senior Revenue, Series2015-1A | | | 5.00 | | | | 12/1/20 | | | | 5,225 | |
| | | | |
| | 2,000 | | | New Jersey State Higher Education Student Assistance Authority Revenue, Series B (AMT) | | | 5.00 | | | | 12/1/22 | | | | 2,204 | |
| | | | |
| | 1,660 | | | New Jersey Housing & Mortgage Finance Agency Revenue, Series D | | | 4.00 | | | | 4/1/22 | | | | 1,747 | |
| | | | |
| | 2,700 | | | Tobacco Settlement Financing Corp. New Jersey Revenue, Series B | | | 3.20 | | | | 6/1/27 | | | | 2,842 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 15,948 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New York — 6.42% | | | | | | | | | | | | |
| | | | |
| | 2,110 | | | Metropolitan Transportation Authority New York Revenue, SeriesA-1 | | | 5.00 | | | | 11/15/22 | | | | 2,347 | |
| | | | |
| | 2,000 | | | Metropolitan Transportation Authority New York Revenue, Series B | | | 5.00 | | | | 11/15/22 | | | | 2,225 | |
| | | | |
| | 2,500 | | | New York State, GO, Series C | | | 5.00 | | | | 8/1/23 | | | | 2,867 | |
| | | | |
| | 3,000 | | | New York City Housing Development Corp. Revenue, SeriesB-2, Callable 7/1/23 @ 100.00 | | | 5.00 | | | | 7/1/26 | | | | 3,407 | |
| | | | |
| | 1,185 | | | New York City Health & Hospital Corp. Revenue, Health System, Series A, Callable 2/15/20 @ 100.00 (GO of Corp.) | | | 5.00 | | | | 2/15/22 | | | | 1,213 | |
| | | | |
| | 1,000 | | | New York City Transitional Finance Authority Future Tax Secured Revenue, SeriesB-1, Callable 8/1/24 @ 100.00 | | | 5.00 | | | | 8/1/29 | | | | 1,167 | |
| | | | |
| | 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 | | | | 1,244 | |
| | | | |
| | 3,255 | | | New York State Transportation Development Corp. Special Facilities Revenue, Terminal One Group Associates | | | 5.00 | | | | 1/1/21 | | | | 3,414 | |
| | | | |
| | 2,000 | | | Port Authority of New York & New Jersey New York Revenue, Consolidated 185th (AMT) | | | 5.00 | | | | 9/1/22 | | | | 2,218 | |
| | | | |
| | 4,500 | | | Port Authority of New York & New Jersey New York Revenue, Consolidated 185th (AMT) | | | 5.00 | | | | 9/1/23 | | | | 5,134 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 25,236 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | North Carolina — 2.69% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | City of Charlotte NC Airport Revenue, Series C | | | 4.00 | | | | 7/1/23 | | | | 1,098 | |
| | | | |
| | 1,000 | | | City of Charlotte NC Airport Revenue, Series C | | | 5.00 | | | | 7/1/24 | | | | 1,166 | |
| | | | |
| | 1,000 | | | North Carolina State Turnpike Authority Revenue (AGC) | | | 5.00 | | | | 1/1/24 | | | | 1,129 | |
| | | | |
| | 5,000 | | | County of Wake North Carolina, GO | | | 5.00 | | | | 9/1/24 | | | | 5,913 | |
| | | | |
| | 1,000 | | | County of Wake North Carolina Revenue | | | 5.00 | | | | 9/1/28 | | | | 1,279 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 10,585 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Ohio — 1.84% | | | | | | | | | | | | |
| | | | |
| | 1,500 | | | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | | | 5.00 | | | | 2/15/27 | | | | 1,723 | |
| | | | |
| | 1,750 | | | Ohio American Municipal Power, Inc. Revenue, Series A | | | 5.00 | | | | 2/15/24 | | | | 2,023 | |
See accompanying notes to financial statements.
265
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Ohio (continued) | | | | | | | | | | | | |
| | | | |
| $ | 750 | | | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System Continuously Callable @ 100.00 (MBIA) | | | 5.50 | | | | 10/15/25 | | | $ | 861 | |
| | | | |
| | 2,500 | | | Montgomery County Ohio Revenue, Miami Valley Hospital, Series A,
Callable 11/15/20 @ 100.00 | | | 5.75 | | | | 11/15/22 | | | | 2,642 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 7,249 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Oklahoma — 0.36% | | | | | | | | | | | | |
| | | | |
| | 1,275 | | | Grand River Oklahoma Dam Authority Revenue, Series A | | | 5.00 | | | | 6/1/22 | | | | 1,411 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Oregon — 0.38% | | | | | | | | | | | | |
| | | | |
| | 1,305 | | | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis, GO, Series A (SCH BD GTY) | | | 0.00 | (a) | | | 6/15/25 | | | | 1,488 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Pennsylvania — 4.70% | | | | | | | | | | | | |
| | | | |
| | 1,250 | | | Commonwealth Financing Authority Revenue, Tobacco Master Settlement | | | 5.00 | | | | 6/1/23 | | | | 1,410 | |
| | | | |
| | 4,000 | | | Delaware Valley Regional Finance Authority Revenue, Series B,
Callable 9/1/21 @ 100.00(CNTY-GTD) | |
| 2.32 (MUNIPSA
+ 42.00 bps) |
(b) | | | 9/1/48 | | | | 4,000 | |
| | | | |
| | 2,500 | | | Pennsylvania Economic Development Financing Authority Revenue (AMT) | | | 2.15 | (a) | | | 7/1/41 | | | | 2,496 | |
| | | | |
| | 2,500 | | | Pennsylvania State Turnpike Commission Revenue | | | 5.00 | | | | 6/1/24 | | | | 2,888 | |
| | | | |
| | 3,000 | | | Philadelphia Pennsylvania Gas Works Revenue | | | 5.00 | | | | 8/1/21 | | | | 3,219 | |
| | | | |
| | 2,500 | | | Philadelphia Pennsylvania School District, GO, Series C, Callable 9/1/20 @ 100.00 (State Aid Withholding) | | | 5.00 | | | | 9/1/21 | | | | 2,596 | |
| | | | |
| | 1,700 | | | Southeastern Pennsylvania Transportation Authority Revenue | | | 5.00 | | | | 3/1/23 | | | | 1,921 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 18,530 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Rhode Island — 0.85% | | | | | | | | | | | | |
| | | | |
| | 2,000 | | | Rhode Island Health & Educational Building Corp. Revenue | | | 5.00 | | | | 5/15/23 | | | | 2,243 | |
| | | | |
| | 1,000 | | | Rhode Island State Student Loan Authority Student Loan Revenue, Series A (AMT) | | | 5.00 | | | | 12/1/22 | | | | 1,090 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,333 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | South Carolina — 2.10% | | | | | | | | | | | | |
| | | | |
| | 3,680 | | | County of Charleston South Carolina, GO, Series A (State Aid Withholding) | | | 5.00 | | | | 11/1/26 | | | | 4,561 | |
| | | | |
| | 3,500 | | | Piedmont Municipal Power Agency Electric Revenue, SeriesA-2, Callable 1/1/21 @ 100.00 | | | 5.00 | | | | 1/1/22 | | | | 3,680 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 8,241 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Tennessee — 1.31% | | | | | | | | | | | | |
| | | | |
| | 2,000 | | | Tennessee State Energy Acquisition Corp. Gas Revenue, Series A
(Goldman Sachs Group, Inc.) | | | 5.25 | | | | 9/1/21 | | | | 2,151 | |
| | | | |
| | 1,250 | | | Tennessee State Energy Acquisition Corp. Gas Revenue, Series E, Callable 2/1/23 @ 100.43 | | | 4.00 | (a) | | | 5/1/48 | | | | 1,340 | |
| | | | |
| | 1,500 | | | Tennessee Energy Acquisition Corp. Revenue, Callable 8/1/25 @ 100.22 | | | 4.00 | (a) | | | 11/1/49 | | | | 1,653 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 5,144 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Texas — 16.98% | | | | | | | | | | | | |
| | | | |
| | 2,000 | | | Aldine Texas Independent School District, GO(PSF-GTD) | | | 5.00 | | | | 2/15/25 | | | | 2,383 | |
| | | | |
| | 1,000 | | | Austin Texas Community College District, GO | | | 5.00 | | | | 8/1/23 | | | | 1,144 | |
| | | | |
| | 1,180 | | | Clifton Higher Education Finance Corp. Revenue(PSF-GTD) | | | 5.00 | | | | 8/15/24 | | | | 1,374 | |
| | | | |
| | 2,200 | | | Clifton Higher Education Finance Corp. Revenue(PSF-GTD) | | | 5.00 | | | | 8/15/25 | | | | 2,627 | |
| | | | |
| | 3,500 | | | Dallas-Fort Worth Texas International Airport Revenue, Series E | | | 5.00 | | | | 11/1/22 | | | | 3,892 | |
| | | | |
| | 1,000 | | | City of Dallas TX, GO, Series A, Callable 2/15/23 @ 100.00 | | | 5.00 | | | | 2/15/26 | | | | 1,117 | |
| | | | |
| | 2,450 | | | City of Dallas TX, GO, Callable 2/15/25 @ 100.00 | | | 5.00 | | | | 2/15/27 | | | | 2,890 | |
| | | | |
| | 2,500 | | | Dallas Independent School District, GO, Series A,
Callable 2/15/25 @ 100.00(PSF-GTD) | | | 5.00 | | | | 2/15/27 | | | | 2,953 | |
| | | | |
| | 1,100 | | | Denton Texas Utility System Revenue | | | 5.00 | | | | 12/1/22 | | | | 1,233 | |
| | | | |
| | 1,000 | | | El Paso Texas Water & Sewer Revenue | | | 5.00 | | | | 3/1/22 | | | | 1,094 | |
| | | | |
| | 3,500 | | | Grand Parkway Transportation Corp. Revenue | | | 5.00 | | | | 2/1/23 | | | | 3,913 | |
| | | | |
| | 2,095 | | | Harris County Texas Cultural Education Facilities Finance Corp. Medicine Facilities Revenue, Baylor College of Medicine | | | 5.00 | | | | 11/15/23 | | | | 2,408 | |
See accompanying notes to financial statements.
266
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Texas (continued) | | | | | | | | | | | | |
| | | | |
| $ | 2,100 | | | Harris County Cultural Education Facilities Finance Corp. Revenue | | | 5.00 | | | | 11/15/27 | | | $ | 2,596 | |
| | | | |
| | 1,650 | | | Harris County Cultural Education Facilities Finance Corp. Revenue | | | 5.00 | | | | 11/15/25 | | | | 1,990 | |
| | | | |
| | 1,650 | | | Harris County Toll Road Authority Revenue, Series A | | | 5.00 | | | | 8/15/23 | | | | 1,891 | |
| | | | |
| | 2,500 | | | City of Houston Texas Airport System Revenue, Series C (AMT) | | | 5.00 | | | | 7/1/25 | | | | 2,963 | |
| | | | |
| | 1,000 | | | Love Field Texas Airport Modernization Corp. General Airport Revenue (AMT) | | | 5.00 | | | | 11/1/22 | | | | 1,114 | |
| | | | |
| | 1,220 | | | Love Field Texas Airport Modernization Corp. General Airport Revenue,
Callable 11/1/22 @ 100.00 | | | 5.00 | | | | 11/1/28 | | | | 1,335 | |
| | | | |
| | 1,000 | | | Lower Colorado River Texas Authority Transmission Contract Revenue | | | 5.00 | | | | 5/15/22 | | | | 1,102 | |
| | | | |
| | 1,075 | | | Lower Colorado River Texas Authority Transmission Contract Revenue | | | 5.00 | | | | 5/15/23 | | | | 1,224 | |
| | | | |
| | 1,000 | | | Lower Colorado River Authority Revenue | | | 5.00 | | | | 5/15/26 | | | | 1,221 | |
| | | | |
| | 1,695 | | | North Texas Tollway Authority Revenue, Series A | | | 5.00 | | | | 1/1/22 | | | | 1,847 | |
| | | | |
| | 2,500 | | | North Texas Tollway Authority Revenue, Series A | | | 5.00 | | | | 1/1/22 | | | | 2,720 | |
| | | | |
| | 1,000 | | | North Texas Tollway Authority Revenue, Series A | | | 5.00 | | | | 1/1/24 | | | | 1,155 | |
| | | | |
| | 1,000 | | | North Texas Tollway Authority Revenue, Series B, Callable 1/1/23 @ 100.00 | | | 5.00 | | | | 1/1/26 | | | | 1,108 | |
| | | | |
| | 1,000 | | | Northside Texas Independent School District, GO(PSF-GTD) | | | 5.00 | | | | 6/15/24 | | | | 1,172 | |
| | | | |
| | 1,070 | | | Sam Rayburn Texas Municipal Power Agency Revenue | | | 5.00 | | | | 10/1/20 | | | | 1,114 | |
| | | | |
| | 1,175 | | | San Antonio Texas Water Revenue, Junior Lien, Series A | | | 5.00 | | | | 5/15/22 | | | | 1,297 | |
| | | | |
| | 1,505 | | | Texas A&M University Revenue, Series E | | | 5.00 | | | | 5/15/23 | | | | 1,711 | |
| | | | |
| | 4,365 | | | Texas State College Student Loan, GO | | | 5.00 | | | | 8/1/22 | | | | 4,824 | |
| | | | |
| | 2,230 | | | University of Houston Revenue, Series C, Callable 2/15/26 @ 100.00 | | | 5.00 | | | | 2/15/28 | | | | 2,687 | |
| | | | |
| | 3,000 | | | University of Texas Revenue, Series E | | | 5.00 | | | | 8/15/23 | | | | 3,438 | |
| | | | |
| | 1,000 | | | West Travis County Public Utility Agency Revenue (BAM) | | | 5.00 | | | | 8/15/26 | | | | 1,207 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 66,744 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Utah — 0.34% | | | | | | | | | | | | |
| | | | |
| | 1,090 | | | Utah Transit Authority Revenue | | | 5.00 | | | | 12/15/26 | | | | 1,333 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Virginia — 2.68% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Fairfax County Virginia Industrial Development Authority Revenue, Series A | | | 5.00 | | | | 5/15/22 | | | | 1,104 | |
| | | | |
| | 1,000 | | | Fairfax County Virginia Industrial Development Authority Revenue, Series A | | | 5.00 | | | | 5/15/23 | | | | 1,137 | |
| | | | |
| | 1,000 | | | Fairfax County Virginia Industrial Development Authority Revenue, Series A | | | 5.00 | | | | 5/15/24 | | | | 1,167 | |
| | | | |
| | 2,000 | | | King George County Economic Development Authority Revenue | | | 2.50 (a) | | | | 6/1/23 | | | | 2,001 | |
| | | | |
| | 2,000 | | | Virginia Commonwealth Transportation Board Revenue, Series A | | | 5.00 | | | | 5/15/23 | | | | 2,280 | |
| | | | |
| | 1,400 | | | Virginia Commonwealth Transportation Board Revenue, Series A | | | 5.00 | | | | 5/15/24 | | | | 1,641 | |
| | | | |
| | 1,000 | | | Virginia Public Building Authority Revenue, Series B (AMT) | | | 5.00 | | | | 8/1/24 | | | | 1,163 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 10,493 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Washington — 1.78% | | | | | | | | | | | | |
| | | | |
| | 1,420 | | | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B (AMT) | | | 5.00 | | | | 1/1/22 | | | | 1,544 | |
| | | | |
| | 1,000 | | | Port of Seattle Washington Revenue, Series C (AMT) | | | 5.00 | | | | 4/1/22 | | | | 1,093 | |
| | | | |
| | 2,500 | | | Washington State, GO, Series B | | | 5.00 | | | | 7/1/23 | | | | 2,857 | |
| | | | |
| | 1,250 | | | Washington Health Care Facilities Authority Revenue | | | 5.00 | | | | 10/1/25 | | | | 1,502 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,996 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Wisconsin — 1.60% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Public Finance Authority Wisconsin Lease Development Revenue | | | 5.00 | | | | 3/1/22 | | | | 1,090 | |
| | | | |
| | 1,000 | | | Public Finance Authority Wisconsin Lease Development Revenue | | | 5.00 | | | | 3/1/23 | | | | 1,121 | |
| | | | |
| | 1,225 | | | University of Wisconsin Hospitals & Clinics Revenue | | | 5.00 | | | | 4/1/26 | | | | 1,474 | |
| | | | |
| | 1,155 | | | Wisconsin State Health & Educational Facilities Authority Revenue, Series A | | | 5.00 | | | | 11/15/22 | | | | 1,292 | |
| | | | |
| | 1,100 | | | Wisconsin State Health & Educational Facilities Authority | | | 4.00 | | | | 11/15/26 | | | | 1,278 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,255 | |
| | | | | | | | | | | | | | | | |
| | | | Total Municipal Bonds | | | | | | | | | | | 348,541 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Corporate Bond — 0.00% | | | | | | | | | | | | |
| | | | |
| | 3,939 | | | ASC Equipment (Trading Companies & Distributors) (c) | | | 5.13 | (d) | | | 3/1/08 | | | | — | |
| | | | | | | | | | | | | | | | |
| | | | Total Corporate Bond | | | | | | | | | | | — | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
267
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
| Shares | | | Security Description | | Rate % | | | | | | Value
(000) | |
| | | | |
| | | | Investment Companies — 10.61% | | | | | | | | | | | | |
| | | | |
| | 55,380 | | | AllianceBernstein National Municipal Income Fund, Inc. | | | | | | | | | | $ | 745 | |
| | | | |
| | 54,643 | | | BlackRock California Municipal Income Trust | | | | | | | | | | | 724 | |
| | | | |
| | 49,651 | | | BlackRock Investment Quality Municipal Trust, Inc. | | | | | | | | | | | 742 | |
| | | | |
| | 91,727 | | | BlackRock Muni Intermediate Duration Fund, Inc. | | | | | | | | | | | 1,289 | |
| | | | |
| | 74,935 | | | BlackRock Municipal 2030 Target Term Trust | | | | | | | | | | | 1,741 | |
| | | | |
| | 84,289 | | | BlackRock Municipal Income Quality Trust | | | | | | | | | | | 1,160 | |
| | | | |
| | 79,192 | | | BlackRock Municipal Income Trust | | | | | | | | | | | 1,101 | |
| | | | |
| | 52,835 | | | BlackRock MuniYield California Fund, Inc. | | | | | | | | | | | 742 | |
| | | | |
| | 52,400 | | | BlackRock MuniYield California Quality Fund, Inc. | | | | | | | | | | | 744 | |
| | | | |
| | 29,023 | | | BlackRock MuniYield Quality Fund II, Inc. | | | | | | | | | | | 365 | |
| | | | |
| | 98,895 | | | BlackRock MuniYield Quality Fund III, Inc. | | | | | | | | | | | 1,305 | |
| | | | |
| | 50,267 | | | BlackRock MuniYield Quality Fund, Inc. | | | | | | | | | | | 729 | |
| | | | |
| | 57,298 | | | BNY Mellon Municipal Bond Infrastructure Fund, Inc. | | | | | | | | | | | 763 | |
| | | | |
| | 64,645 | | | BNY Mellon Municipal Income, Inc. | | | | | | | | | | | 551 | |
| | | | |
| | 92,101 | | | BNY Mellon Strategic Municipal Bond Fund, Inc. | | | | | | | | | | | 730 | |
| | | | |
| | 90,669 | | | BNY Mellon Strategic Municipals, Inc. | | | | | | | | | | | 741 | |
| | | | |
| | 43,431 | | | Eaton Vance Municipal Bond Fund | | | | | | | | | | | 540 | |
| | | | |
| | 65,510 | | | Invesco Advantage Municipal Income Trust II | | | | | | | | | | | 721 | |
| | | | |
| | 55,851 | | | Invesco California Value Municipal Income Trust | | | | | | | | | | | 723 | |
| | | | |
| | 59,044 | | | Invesco Municipal Opportunity Trust | | | | | | | | | | | 726 | |
| | | | |
| | 46,389 | | | Invesco Municipal Trust | | | | | | | | | | | 572 | |
| | | | |
| | 90,048 | | | Invesco Quality Municipal Income Trust | | | | | | | | | | | 1,118 | |
| | | | |
| | 130,280 | | | Invesco Trust For Investment Grade Municipals | | | | | | | | | | | 1,651 | |
| | | | |
| | 53,994 | | | MFS High Income Municipal Trust | | | | | | | | | | | 281 | |
| | | | |
| | 130,017 | | | NuveenAMT-Free Municipal Credit Income Fund | | | | | | | | | | | 2,063 | |
| | | | |
| | 237,997 | | | NuveenAMT-Free Quality Municipal Income Fund | | | | | | | | | | | 3,287 | |
| | | | |
| | 77,890 | | | Nuveen CaliforniaAMT-Free Quality Municipal Income Fund | | | | | | | | | | | 1,137 | |
| | | | |
| | 105,585 | | | Nuveen California Quality Municipal Income Fund | | | | | | | | | | | 1,529 | |
| | | | |
| | 83,141 | | | Nuveen Intermediate Duration Municipal Term Fund | | | | | | | | | | | 1,117 | |
| | | | |
| | 101,362 | | | Nuveen Municipal Credit Income Fund | | | | | | | | | | | 1,596 | |
| | | | |
| | 114,760 | | | Nuveen New YorkAMT-Free Quality Municipal Income Fund | | | | | | | | | | | 1,502 | |
| | | | |
| | 27,418 | | | Nuveen Pennsylvania Quality Municipal Income Fund | | | | | | | | | | | 374 | |
| | | | |
| | 243,450 | | | Nuveen Quality Municipal Income Fund | | | | | | | | | | | 3,408 | |
| | | | |
| | 97,606 | | | Putnam Managed Municipal Income Trust | | | | | | | | | | | 745 | |
| | | | |
| | 86,295 | | | Putnam Municipal Opportunities Trust | | | | | | | | | | | 1,092 | |
| | | | |
| | 3,338,193 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (d) | | | | | | | 3,338 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Companies | | | | | | | | | | | 41,692 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $384,322) — 99.27% | | | | | | | | | | | 390,233 | |
| | | | Other assets in excess of liabilities — 0.73% | | | | | | | | | | | 2,864 | |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 393,097 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Interest rate is determined by the Remarketing Agent. The rate disclosed is the rate in effect on June 30, 2019. |
| (b) | Variable Rate Security. The rate disclosed is the rate in effect on June 30, 2019. |
| (d) | The rate disclosed is the rate in effect on June 30, 2019. |
AGC — Assured Guaranty Corp.
AGM — Assured Guaranty Municipal Corporation
AMT — Alternative Minimum Tax
BAM — Build America Mutual
bps — Basis Points
CNTY-GTD — County Guarantee
See accompanying notes to financial statements.
268
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — June 30, 2019
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
SCH BD GTY—School Board Guaranty
US0001M — 1 Month US Dollar LIBOR
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | | | | | |
The Intermediate Term Municipal Bond Portfolio | | Mellon Investments
Corporation* | | | City of London
Investment
Management
Company, Ltd. | | | HC Capital
Solutions | | | Total | |
Municipal Bonds | | | 88.66 | % | | | — | | | | — | | | | 88.66 | % |
| | | | |
Corporate Bond | | | 0.00 | % | | | — | | | | — | | | | 0.00 | % |
| | | | |
Investment Companies | | | — | | | | 9.76 | % | | | 0.85 | % | | | 10.61 | % |
| | | | |
Other Assets (Liabilities) | | | 0.83 | % | | | 0.07 | % | | | -0.17 | % | | | 0.73 | % |
| | | | | | | | | | | | | | | | |
Total Net Assets | | | 89.49 | % | | | 9.83 | % | | | 0.68 | % | | | 100.00 | % |
| | | | | | | | | | | | | | | | |
| * | Formerly Standish Mellon Asset Management Company, LLC. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
Amounts designated as “0.00%” round to less than 0.005%.
See accompanying notes to financial statements.
269
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds — 96.65% | | | | | | | | | | | | |
| | | | |
| | | | Alabama — 3.62% | | | | | | | | | | | | |
| | | | |
| $ | 1,415 | | | Birmingham Alabama Special Care Facilities Financing Authority Health Care Facility, Callable 6/1/25 @ 100.00 | | | 5.00 | | | | 6/1/29 | | | $ | 1,656 | |
| | | | |
| | 1,000 | | | Pell City Alabama, GO, Series A, Callable 2/1/25 @ 100.00 | | | 5.00 | | | | 2/1/26 | | | | 1,186 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,842 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Arizona — 0.79% | | | | | | | | | | | | |
| | | | |
| | 450 | | | Maricopa County Arizona Unified School District No. 48, GO | | | 5.00 | | | | 7/1/21 | | | | 483 | |
| | | | |
| | 140 | | | Yuma County Arizona Jail District Revenue, Pledge Obligation | | | 5.00 | | | | 7/1/20 | | | | 145 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 628 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Florida — 15.05% | | | | | | | | | | | | |
| | | | |
| | 1,455 | | | East Central Regional Wastewater Treatment Facilities Operation Board Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.50 | | | | 10/1/44 | | | | 1,757 | |
| | | | |
| | 1,250 | | | Florida State Board of Education Lottery Revenue, Series A | | | 5.00 | | | | 7/1/26 | | | | 1,539 | |
| | | | |
| | 800 | | | State of Florida, GO, Series A | | | 5.00 | | | | 6/1/23 | | | | 912 | |
| | | | |
| | 1,525 | | | Florida Department of Environmental Protection Revenue, Series A | | | 5.00 | | | | 7/1/24 | | | | 1,789 | |
| | | | |
| | 1,400 | | | Lee County Florida School Board Certificates of Participation, Series A, Callable 8/1/24 @ 100.00 | | | 5.00 | | | | 8/1/27 | | | | 1,629 | |
| | | | |
| | 750 | | | Miami-Dade County Florida, GO, Series A, Callable 11/1/24 @ 100.00 | | | 5.00 | | | | 11/1/27 | | | | 885 | |
| | | | |
| | 1,000 | | | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | | | 5.25 | | | | 10/1/20 | | | | 1,049 | |
| | | | |
| | 585 | | | Orange County Florida School Board Certificates of Participation, Series A | | | 5.00 | | | | 8/1/23 | | | | 668 | |
| | | | |
| | 1,500 | | | West Palm Beach Florida Utility System Revenue, Series A, Callable 10/1/21 @ 100.00 | | | 5.00 | | | | 10/1/22 | | | | 1,621 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 11,849 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Hawaii — 2.01% | | | | | | | | | | | | |
| | | | |
| | 1,500 | | | Honolulu City & County Hawaii, GO, Series B(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 12/1/23 | | | | 1,579 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Idaho — 1.81% | | | | | | | | | | | | |
| | | | |
| | 1,285 | | | Idaho State Housing & Finance Association, Grant & Revenue Anticipation Federal Highway Trust, Series A | | | 5.00 | | | | 7/15/22 | | | | 1,425 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Illinois — 2.19% | | | | | | | | | | | | |
| | | | |
| | 1,400 | | | Illinois Finance Authority Revenue | | | 5.00 | | | | 1/1/27 | | | | 1,722 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Iowa — 2.14% | | | | | | | | | | | | |
| | | | |
| | 1,410 | | | City of Bettendorf Iowa, GO, Series D | | | 5.00 | | | | 6/1/25 | | | | 1,684 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Kansas — 1.24% | | | | | | | | | | | | |
| | | | |
| | 850 | | | City of Olathe Kansas, GO, Series 230 | | | 5.00 | | | | 10/1/23 | | | | 976 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Maryland — 0.42% | | | | | | | | | | | | |
| | | | |
| | 330 | | | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | | | 5.00 | | | | 7/1/19 | | | | 330 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Massachusetts — 2.97% | | | | | | | | | | | | |
| | | | |
| | 1,000 | | | Massachusetts State Bay Transportation Authority Sales Tax Revenue | | | 4.00 | | | | 12/1/21 | | | | 1,063 | |
| | | | |
| | 600 | | | Massachusetts State, GO, Series A | | | 5.00 | | | | 3/1/23 | | | | 677 | |
| | | | |
| | 600 | | | Massachusetts State Water Resources Authority Revenue, Series A(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 8/1/39 | | | | 602 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,342 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Nevada — 4.00% | | | | | | | | | | | | |
| | | | |
| | 800 | | | Clark County Nevada Highway Improvement Revenue | | | 5.00 | | | | 7/1/23 | | | | 909 | |
| | | | |
| | 1,105 | | | Las Vegas Valley Nevada Water District, GO, Series B | | | 5.00 | | | | 12/1/24 | | | | 1,312 | |
| | | | |
| | 800 | | | Nevada State System of Higher Education Certificates of Participation Revenue, Series A, Callable 7/1/24 @ 100.00 | | | 5.00 | | | | 7/1/26 | | | | 932 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 3,153 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | New Mexico — 1.66% | | | | | | | | | | | | |
| | | | |
| | 1,025 | | | Albuquerque Municipal School District No. 12, GO, Callable 8/1/28 @ 100.00 (State Aid Withholding) | | | 5.00 | | | | 8/1/29 | | | | 1,298 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
270
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount
(000) | | | Security Description | | Rate % | | | Maturity
Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | New York — 7.85% | | | | | | | | | | | | |
| | | | |
| $ | 1,495 | | | New York City Transitional Finance Authority Revenue, Series D, Callable 2/1/21 @ 100.00 | | | 5.25 | | | | 2/1/22 | | | $ | 1,589 | |
| | | | |
| | 1,700 | | | New York State Environmental Facilities Corp. Revenue, Callable 6/15/24 @ 100.00 | | | 5.00 | | | | 6/15/29 | | | | 1,980 | |
| | | | |
| | 1,470 | | | New York State Dormitory Authority Sales Tax Revenue, Callable 9/15/28 @ 100.00 | | | 5.00 | | | | 3/15/30 | | | | 1,883 | |
| | | | |
| | 625 | | | New York State Dormitory Authority State Personal Income Tax Revenue, Series A, Callable 2/15/24 @ 100.00 | | | 5.00 | | | | 2/15/26 | | | | 724 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,176 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | North Carolina — 2.85% | | | | | | | | | | | | |
| | | | |
| | 1,500 | | | North Carolina State Revenue, Series B | | | 5.00 | | | | 5/1/27 | | | | 1,878 | |
| | | | |
| | 300 | | | University of North Carolina at Greensboro Revenue | | | 5.00 | | | | 4/1/25 | | | | 360 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,238 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Ohio — 8.26% | | | | | | | | | | | | |
| | | | |
| | 700 | | | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | | | 5.00 | | | | 2/15/27 | | | | 804 | |
| | | | |
| | 1,000 | | | Butler County Ohio Hospital Facilities Revenue, Series X | | | 5.00 | | | | 5/15/29 | | | | 1,270 | |
| | | | |
| | 1,600 | | | Columbus Ohio State, GO, Series 1(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 7/1/24 | | | | 1,833 | |
| | | | |
| | 500 | | | Ohio State Hospital Facility Revenue, Callable 1/1/28 @ 100.00 | | | 5.00 | | | | 1/1/30 | | | | 622 | |
| | | | |
| | 800 | | | Ohio State University Revenue | | | 5.00 | | | | 12/1/22 | | | | 898 | |
| | | | |
| | 975 | | | Ohio Water Development Authority Revenue | | | 5.00 | | | | 6/1/22 | | | | 1,077 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 6,504 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Pennsylvania — 3.29% | | | | | | | | | | | | |
| | | | |
| | 1,375 | | | Blairsville-Saltsburg School District, GO (BAM State Aid Withholding) | | | 5.00 | | | | 3/15/23 | | | | 1,558 | |
| | | | |
| | 1,000 | | | Pennsylvania State, GO, Series A | | | 5.00 | | | | 5/1/20 | | | | 1,028 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 2,586 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | South Dakota — 2.62% | | | | | | | | | | | | |
| | | | |
| | 1,675 | | | South Dakota Board of Regents Revenue, Callable 10/1/27 @ 100.00 | | | 5.00 | | | | 4/1/29 | | | | 2,061 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Texas — 18.89% | | | | | | | | | | | | |
| | | | |
| | 710 | | | Dallas Texas Waterworks & Sewer System Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 10/1/23 | | | | 767 | |
| | | | |
| | 540 | | | Dallas Texas Waterworks & Sewer System Revenue, Callable 10/1/21 @ 100.00 | | | 5.00 | | | | 10/1/23 | | | | 586 | |
| | | | |
| | 875 | | | City of Denton Texas, GO | | | 5.00 | | | | 2/15/21 | | | | 925 | |
| | | | |
| | 1,545 | | | Harris County Texas Revenue, Series A, Callable 8/15/26 @ 100.00 | | | 5.00 | | | | 8/15/30 | | | | 1,867 | |
| | | | |
| | 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 | | | | 1,805 | |
| | | | |
| | 1,120 | | | Houston Community College System Revenue | | | 5.00 | | | | 4/15/21 | | | | 1,192 | |
| | | | |
| | 1,460 | | | Humble Independent School District, GO, Series C | | | 5.00 | | | | 2/15/24 | | | | 1,695 | |
| | | | |
| | 1,550 | | | City of Missouri City TX, GO, Callable 6/15/26 @ 100.00 | | | 5.00 | | | | 6/15/30 | | | | 1,862 | |
| | | | |
| | 1,715 | | | North East Independent School District Texas, GO, Series B(PSF-GTD) | | | 5.00 | | | | 2/1/24 | | | | 1,991 | |
| | | | |
| | 300 | | | City of Pearland Texas, GO, Callable 3/1/27 @ 100.00 | | | 5.00 | | | | 3/1/29 | | | | 367 | |
| | | | |
| | 1,500 | | | Texas State Water Development Board Revenue, Series A, Callable 10/15/25 @ 100.00 | | | 5.00 | | | | 4/15/26 | | | | 1,816 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 14,873 | |
| | | | | | | | | | | | | | | | |
| | | | |
| | | | Washington — 13.91% | | | | | | | | | | | | |
| | | | |
| | 665 | | | Energy Northwest Revenue, Series A | | | 5.00 | | | | 7/1/19 | | | | 665 | |
| | | | |
| | 1,000 | | | King County Washington, GO | | | 5.25 | | | | 1/1/23 | | | | 1,134 | |
| | | | |
| | 1,050 | | | King County School District No. 405 Bellevue, GO, Callable 12/1/27 @ 100.00 (SCH BD GTY) | | | 5.00 | | | | 12/1/29 | | | | 1,316 | |
| | | | |
| | 1,250 | | | King County School District No. 410 Snoqualmie Valley, GO, Callable 6/1/27 @ 100.00 (SCH BD GTY) | | | 5.00 | | | | 12/1/27 | | | | 1,565 | |
| | | | |
| | 1,400 | | | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | | | 5.00 | | | | 1/1/24 | | | | 1,528 | |
| | | | |
| | 750 | | | King County Washington Sewer Revenue | | | 5.00 | | | | 1/1/20 | | | | 763 | |
| | | | |
| | 540 | | | City of Spokane Washington Water & Wastewater System Revenue | | | 5.00 | | | | 12/1/19 | | | | 548 | |
| | | | |
| | 1,500 | | | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | | | 5.00 | | | | 12/1/22 | | | | 1,548 | |
| | | | |
| | 1,750 | | | State of Washington, GO, Series A | | | 5.00 | | | | 8/1/21 | | | | 1,884 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | 10,951 | |
| | | | | | | | | | | | | | | | |
See accompanying notes to financial statements.
271
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — June 30, 2019
| | | | | | | | | | | | | | | | |
Principal
Amount (000) | | | Security Description | | Rate % | | | Maturity Date | | | Value
(000) | |
| | | | |
| | | | Municipal Bonds (continued) | | | | | | | | | | | | |
| | | | |
| | | | Wisconsin — 1.08% | | | | | | | | | | | | |
| | | | |
| $ | 800 | | | DeForest Area School District, GO | | | 5.00 | | | | 4/1/21 | | | $ | 848 | |
| | | | | | | | | | | | | | | | |
| | | | Total Municipal Bonds | | | | | | | | | | | 76,065 | |
| | | | | | | | | | | | | | | | |
| | | | |
| Shares | | | | | | | | | | | | |
| | | | |
| | | | Investment Company — 4.54% | | | | | | | | | | | | |
| | | | |
| | 3,573,025 | | | State Street Institutional Treasury Plus Money Market Fund, Trust Class | | | 2.18 | (a) | | | | | | | 3,573 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investment Company | | | | | | | | | | | 3,573 | |
| | | | | | | | | | | | | | | | |
| | | | Total Investments (cost $76,848) — 101.19% | | | | | | | | | | | 79,638 | |
| | | | Liabilities in excess of other assets — (1.19)% | | | | | | | | | | | (933 | ) |
| | | | | | | | | | | | | | | | |
| | | | Net Assets — 100.00% | | | | | | | | | | $ | 78,705 | |
| | | | | | | | | | | | | | | | |
| (a) | The rate disclosed is the rate in effect on June 30, 2019. |
AGM — Assured Guaranty Municipal Corporation
BAM — Build America Mutual
GO — General Obligation
PSF-GTD — Public School Fund Guaranteed
SCH BD GTY — School Board Guaranty
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of June 30, 2019.
| | | | | | | | | | | | |
The Intermediate Term Municipal Bond II Portfolio | | Breckinridge
Capital Advisors,
Inc. | | | HC Capital
Solutions | | | Total | |
Municipal Bonds | | | 96.65 | % | | | — | | | | 96.65 | % |
| | | |
Investment Company | | | 1.61 | % | | | 2.93 | % | | | 4.54 | % |
| | | |
Other Assets (Liabilities) | | | -1.02 | % | | | -0.17 | % | | | -1.19 | % |
| | | | | | | | | | | | |
Total Net Assets | | | 97.24 | % | | | 2.76 | % | | | 100.00 | % |
| | | | | | | | | | | | |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
272
HC CAPITAL TRUST
Statements of Assets and Liabilities
As of June 30, 2019
(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 in securities, at value(a) | | $ | 582,791 | | | $ | 1,472,530 | | | $ | 798,484 | | | $ | 1,523,870 | |
Repurchase agreements, at value and cost | | | — | | | | — | | | | 1,761 | | | | 2,278 | |
Cash | | | 68 | | | | 2,218 | | | | 5,297 | | | | 7,963 | |
Foreign currency, at value (Cost $15, $29, $0 and $0, respectively) | | | 15 | | | | 29 | | | | — | | | | — | |
Receivable for portfolio shares issued | | | 10 | | | | 50 | | | | — | | | | 48 | |
Receivable from investments sold | | | — | | | | 86,708 | | | | — | | | | 61,336 | |
Variation margin receivable on futures contracts | | | 69 | | | | 2,757 | | | | 48 | | | | 378 | |
Cash held as collateral at broker for futures contracts | | | 500 | | | | 19,447 | | | | 900 | | | | 4,153 | |
Dividends and interest receivable | | | 444 | | | | 1,470 | | | | 730 | | | | 1,029 | |
Foreign tax reclaims receivable | | | — | | | | — | | | | 89 | | | | 82 | |
Prepaid expenses | | | 16 | | | | 17 | | | | 17 | | | | 16 | |
| | | | | | | | | | | | | | | | |
Total assets | | | 583,913 | | | | 1,585,226 | | | | 807,326 | | | | 1,601,153 | |
| | | | | | | | | | | | | | | | |
LIABILITIES: | | | | | | | | | | | | | | | | |
Payable for investments purchased | | | — | | | | 87,035 | | | | 1,109 | | | | 60,746 | |
Payable for portfolio shares redeemed | | | 8 | | | | 4 | | | | 24 | | | | 7 | |
Payable for collateral received on loaned securities | | | — | | | | — | | | | 3,026 | | | | 3,913 | |
Advisory fees payable | | | 37 | | | | 63 | | | | 177 | | | | 251 | |
Management fees payable | | | 23 | | | | 49 | | | | 32 | | | | 61 | |
Administrative services fees payable | | | 19 | | | | 36 | | | | 24 | | | | 43 | |
Trustee fees payable | | | 1 | | | | 3 | | | | 2 | | | | 3 | |
Professional fees payable | | | 37 | | | | 73 | | | | 52 | | | | 92 | |
Custodian fees payable | | | 9 | | | | 14 | | | | 12 | | | | 19 | |
Other accrued expenses | | | 22 | | | | 48 | | | | 30 | | | | 59 | |
| | | | | | | | | | | | | | | | |
Total liabilities | | | 156 | | | | 87,325 | | | | 4,488 | | | | 65,194 | |
| | | | | | | | | | | | | | | | |
NET ASSETS | | $ | 583,757 | | | $ | 1,497,901 | | | $ | 802,838 | | | $ | 1,535,959 | |
| | | | | | | | | | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 29 | | | $ | 117 | | | $ | 33 | | | $ | 83 | |
Additionalpaid-in capital | | | 444,878 | | | | 1,341,080 | | | | 380,584 | | | | 976,176 | |
Total distributable earnings | | | 138,850 | | | | 156,704 | | | | 422,221 | | | | 559,700 | |
| | | | | | | | | | | | | | | | |
Net Assets | | $ | 583,757 | | | $ | 1,497,901 | | | $ | 802,838 | | | $ | 1,535,959 | |
| | | | | | | | | | | | | | | | |
NET ASSETS: | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 583,757 | | | $ | 1,497,901 | | | $ | 802,838 | | | $ | 1,535,959 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 583,757 | | | $ | 1,497,901 | | | $ | 802,838 | | | $ | 1,535,959 | |
| | | | | | | | | | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | 28,890 | | | | 117,111 | | | | 32,745 | | | | 82,908 | |
| | | | | | | | | | | | | | | | |
Total | | | 28,890 | | | | 117,111 | | | | 32,745 | | | | 82,908 | |
| | | | | | | | | | | | | | | | |
Net Asset Value, offering and redemption price per share:(b) | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 20.21 | | | $ | 12.79 | | | $ | 24.52 | | | $ | 18.53 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Investments in securities, at cost | | $ | 431,993 | | | $ | 1,355,055 | | | $ | 398,341 | | | $ | 1,152,407 | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Includes securities on loan of $0, $0, $2,972 and $3,844, respectively. |
| (b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
273
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of June 30, 2019
(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 in securities, at value(b) | | $ | 94,871 | | | $ | 146,787 | | | $ | 119,819 | | | $ | 151,680 | |
Repurchase agreements, at value and cost | | | 637 | | | | 1,253 | | | | — | | | | 4,750 | |
Cash | | | 1,312 | | | | 1,482 | | | | 8 | | | | 199 | |
Foreign currency, at value (Cost $0, $0, $0 and
$1,276, respectively) | | | — | | | | — | | | | — | | | | 1,291 | |
Swap agreements, at value | | | — | | | | — | | | | — | | | | 6 | |
Receivable from investments sold | | | 3,471 | | | | 4,798 | | | | 434 | | | | — | |
Variation margin receivable on futures contracts | | | 12 | | | | 64 | | | | 4 | | | | 102 | |
Cash held as collateral at broker for futures contracts | | | 99 | | | | 300 | | | | 50 | | | | 1,100 | |
Dividends and interest receivable | | | 74 | | | | 119 | | | | 393 | | | | 307 | |
Foreign tax reclaims receivable | | | — | | | | — | | | | — | | | | 347 | |
Prepaid expenses | | | 11 | | | | 12 | | | | 13 | | | | 23 | |
| | | | | | | | | | | | | | | | |
Total assets | | | 100,487 | | | | 154,815 | | | | 120,721 | | | | 159,805 | |
| | | | | | | | | | | | | | | | |
LIABILITIES: | | | | | | | | | | | | | | | | |
Swap agreements, at value | | | — | | | | — | | | | — | | | | 1 | |
Payable for investments purchased | | | 3,711 | | | | 5,160 | | | | 559 | | | | — | |
Payable for portfolio shares redeemed | | | 1 | | | | 4 | | | | — | | | | 71 | |
Payable for collateral received on loaned securities | | | 1,094 | | | | 2,153 | | | | — | | | | 85 | |
Variation margin payable on futures contracts | | | — | | | | — | | | | — | | | | 55 | |
Advisory fees payable | | | 44 | | | | 48 | | | | 65 | | | | 17 | |
Management fees payable | | | 4 | | | | 6 | | | | 5 | | | | 6 | |
Administrative services fees payable | | | 4 | | | | 9 | | | | 6 | | | | 9 | |
Trustee fees payable | | | — | | | | — | | | | — | | | | 1 | |
Professional fees payable | | | 3 | | | | 10 | | | | 8 | | | | 47 | |
Custodian fees payable | | | 1 | | | | 5 | | | | 3 | | | | 30 | |
Other accrued expenses | | | 11 | | | | 5 | | | | 6 | | | | 14 | |
| | | | | | | | | | | | | | | | |
Total liabilities | | | 4,873 | | | | 7,400 | | | | 652 | | | | 336 | |
| | | | | | | | | | | | | | | | |
NET ASSETS | | $ | 95,614 | | | $ | 147,415 | | | $ | 120,069 | | | $ | 159,469 | |
| | | | | | | | | | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 4 | | | $ | 10 | | | $ | 37 | | | $ | 18 | |
Additionalpaid-in capital | | | 69,724 | | | | 119,388 | | | | 87,392 | | | | 262,359 | |
Total distributable earnings/(loss) | | | 25,886 | | | | 28,017 | | | | 32,640 | | | | (102,908 | ) |
| | | | | | | | | | | | | | | | |
Net Assets | | $ | 95,614 | | | $ | 147,415 | | | $ | 120,069 | | | $ | 159,469 | |
| | | | | | | | | | | | | | | | |
NET ASSETS: | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 95,614 | | | $ | 147,415 | | | $ | 120,069 | | | $ | 159,469 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 95,614 | | | $ | 147,415 | | | $ | 120,069 | | | $ | 159,469 | |
| | | | | | | | | | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | 3,643 | | | | 10,470 | | | | 36,810 | | | | 17,539 | |
| | | | | | | | | | | | | | | | |
Total | | | 3,643 | | | | 10,470 | | | | 36,810 | | | | 17,539 | |
| | | | | | | | | | | | | | | | |
Net Asset Value, offering and redemption price per share:(c) | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 26.25 | | | $ | 14.08 | | | $ | 3.26 | | | $ | 9.09 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Investments in securities, at cost | | $ | 70,343 | | | $ | 123,643 | | | $ | 91,638 | | | $ | 119,328 | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Statement has been consolidated. See Note 2.N. in the Notes to Financial Statements for basis of consolidation. |
| (b) | Includes securities on loan of $1,015, $2,102, $0 and $164, respectively. |
| (c) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
274
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of June 30, 2019
(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 in securities, at value(a) | | $ | 147,737 | | | $ | 50,619 | | | $ | 879,343 | | | $ | 1,835,174 | |
Repurchase agreements, at value and cost | | | — | | | | 12 | | | | 1,581 | | | | 4,413 | |
Cash | | | 25 | | | | 6 | | | | 19,130 | | | | 25,219 | |
Foreign currency, at value (Cost $352, $75, $2,890 and $4,237, respectively) | | | 347 | | | | 74 | | | | 2,891 | | | | 4,250 | |
Receivable for portfolio shares issued | | | — | | | | 600 | | | | 5 | | | | — | |
Receivable from investments sold | | | — | | | | — | | | | 2,691 | | | | 6,751 | |
Variation margin receivable on futures contracts | | | 33 | | | | — | | | | 103 | | | | 467 | |
Cash held as collateral at broker for futures contracts | | | 350 | | | | — | | | | 1,198 | | | | 4,901 | |
Dividends and interest receivable | | | 250 | | | | 76 | | | | 3,735 | | | | 8,372 | |
Foreign tax reclaims receivable | | | 282 | | | | 55 | | | | 4,130 | | | | 7,706 | |
Prepaid expenses | | | 5 | | | | — | | | | 20 | | | | 20 | |
| | | | | | | | | | | | | | | | |
Total assets | | | 149,029 | | | | 51,442 | | | | 914,827 | | | | 1,897,273 | |
| | | | | | | | | | | | | | | | |
LIABILITIES: | | | | | | | | | | | | | | | | |
Payable for investments purchased | | | — | | | | — | | | | 469 | | | | 2,499 | |
Payable for portfolio shares redeemed | | | — | | | | — | | | | 58 | | | | 18 | |
Payable for collateral received on loaned securities | | | — | | | | 20 | | | | 2,715 | | | | 7,582 | |
Advisory fees payable | | | 11 | | | | 4 | | | | 263 | | | | 497 | |
Management fees payable | | | 6 | | | | 2 | | | | 38 | | | | 85 | |
Administrative services fees payable | | | 9 | | | | 6 | | | | 32 | | | | 62 | |
Trustee fees payable | | | — | | | | — | | | | 3 | | | | 6 | |
Professional fees payable | | | 12 | | | | 4 | | | | 84 | | | | 156 | |
Custodian fees payable | | | 6 | | | | 3 | | | | 66 | | | | 100 | |
Other accrued expenses | | | 7 | | | | 2 | | | | 40 | | | | 92 | |
| | | | | | | | | | | | | | | | |
Total liabilities | | | 51 | | | | 41 | | | | 3,768 | | | | 11,097 | |
| | | | | | | | | | | | | | | | |
NET ASSETS | | $ | 148,978 | | | $ | 51,401 | | | $ | 911,059 | | | $ | 1,886,176 | |
| | | | | | | | | | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 14 | | | $ | 4 | | | $ | 88 | | | $ | 194 | |
Additionalpaid-in capital | | | 135,050 | | | | 47,912 | | | | 843,958 | | | | 1,810,137 | |
Total distributable earnings | | | 13,914 | | | | 3,485 | | | | 67,013 | | | | 75,845 | |
| | | | | | | | | | | | | | | | |
Net Assets | | $ | 148,978 | | | $ | 51,401 | | | $ | 911,059 | | | $ | 1,886,176 | |
| | | | | | | | | | | | | | | | |
NET ASSETS: | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 148,978 | | | $ | 51,401 | | | $ | 911,059 | | | $ | 1,886,176 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 148,978 | | | $ | 51,401 | | | $ | 911,059 | | | $ | 1,886,176 | |
| | | | | | | | | | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | 13,641 | | | | 4,341 | | | | 87,839 | | | | 194,385 | |
| | | | | | | | | | | | | | | | |
Total | | | 13,641 | | | | 4,341 | | | | 87,839 | | | | 194,385 | |
| | | | | | | | | | | | | | | | |
Net Asset Value, offering and redemption price per share:(b) | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 10.92 | | | $ | 11.84 | | | $ | 10.37 | | | $ | 9.70 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Investments in securities, at cost | | $ | 140,081 | | | $ | 48,580 | | | $ | 760,189 | | | $ | 1,709,538 | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Includes securities on loan of $0, $19, $8,102 and $23,830, respectively. |
| (b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
275
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of June 30, 2019
(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 in securities, at value(a) | | $ | 1,439,351 | | | $ | 69,716 | | | $ | 594,229 | | | $ | 303,710 | |
Repurchase agreements, at value and cost | | | 7,160 | | | | — | | | | 5,855 | | | | — | |
Swap agreements, at value | | | — | | | | — | | | | 26 | | | | — | |
Cash | | | 906 | | | | 28 | | | | 4,208 | | | | 3,849 | |
Foreign currency, at value (Cost $15,005, $0, $0 and $0, respectively) | | | 15,046 | | | | — | | | | — | | | | — | |
Receivable for portfolio shares issued | | | 6 | | | | 117 | | | | 20 | | | | — | |
Receivable from investments sold | | | 11,201 | | | | 769 | | | | 2,441 | | | | 4,184 | |
Cash held as collateral at broker for futures contracts | | | 2,395 | | | | — | | | | 411 | | | | — | |
Cash held as collateral at custodian for OTC swap agreements | | | — | | | | — | | | | 30 | | | | — | |
Variation margin receivable on futures contracts | | | — | | | | — | | | | 107 | | | | — | |
Dividends and interest receivable | | | 6,835 | | | | 438 | | | | 5,965 | | | | 1,900 | |
Foreign tax reclaims receivable | | | 82 | | | | — | | | | — | | | | — | |
Prepaid expenses | | | 16 | | | | 8 | | | | 12 | | | | 8 | |
| | | | | | | | | | | | | | | | |
Total assets | | | 1,482,998 | | | | 71,076 | | | | 613,304 | | | | 313,651 | |
| | | | | | | | | | | | | | | | |
LIABILITIES: | | | | | | | | | | | | | | | | |
Distributions payable | | | — | | | | 1 | | | | — | | | | 98 | |
Payable for investments purchased | | | 305 | | | | 2,773 | | | | 4,900 | | | | 7,936 | |
Payable for portfolio shares redeemed | | | 13 | | | | 8 | | | | 18 | | | | 11 | |
Payable for collateral received on loaned securities | | | 12,300 | | | | — | | | | 10,058 | | | | — | |
Variation margin payable on futures contracts | | | 180 | | | | — | | | | 13 | | | | — | |
Accrued foreign capital gains tax | | | 2,767 | | | | — | | | | — | | | | — | |
Advisory fees payable | | | 745 | | | | 4 | | | | 323 | | | | 15 | |
Management fees payable | | | 62 | | | | 3 | | | | 26 | | | | 12 | |
Administrative services fees payable | | | 45 | | | | 11 | | | | 23 | | | | 12 | |
Trustee fees payable | | | 4 | | | | — | | | | 2 | | | | 1 | |
Professional fees payable | | | 110 | | | | 4 | | | | 43 | | | | 19 | |
Custodian fees payable | | | 276 | | | | 3 | | | | 16 | | | | 4 | |
Other accrued expenses | | | 63 | | | | 2 | | | | 34 | | | | 12 | |
| | | | | | | | | | | | | | | | |
Total liabilities | | | 16,870 | | | | 2,809 | | | | 15,456 | | | | 8,120 | |
| | | | | | | | | | | | | | | | |
NET ASSETS | | $ | 1,466,128 | | | $ | 68,267 | | | $ | 597,848 | | | $ | 305,531 | |
| | | | | | | | | | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 81 | | | $ | 7 | | | $ | 85 | | | $ | 30 | |
Additionalpaid-in capital | | | 1,471,488 | | | | 66,711 | | | | 625,797 | | | | 295,817 | |
Total distributable earnings/(loss) | | | (5,441 | ) | | | 1,549 | | | | (28,034 | ) | | | 9,684 | |
| | | | | | | | | | | | | | | | |
Net Assets | | $ | 1,466,128 | | | $ | 68,267 | | | $ | 597,848 | | | $ | 305,531 | |
| | | | | | | | | | | | | | | | |
NET ASSETS: | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 1,466,128 | | | $ | 68,267 | | | $ | 597,848 | | | $ | 305,531 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 1,466,128 | | | $ | 68,267 | | | $ | 597,848 | | | $ | 305,531 | |
| | | | | | | | | | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | 80,804 | | | | 6,839 | | | | 85,267 | | | | 30,446 | |
| | | | | | | | | | | | | | | | |
Total | | | 80,804 | | | | 6,839 | | | | 85,267 | | | | 30,446 | |
| | | | | | | | | | | | | | | | |
Net Asset Value, offering and redemption price per share:(b) | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 18.14 | | | $ | 9.98 | | | $ | 7.01 | | | $ | 10.03 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Investments in securities, at cost | | $ | 1,318,620 | | | $ | 67,524 | | | $ | 574,095 | | | $ | 292,481 | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Includes securities on loan of $12,628, $0, $8,454 and $0, respectively. |
| (b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
276
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of June 30, 2019
(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 in securities, at value | | $ | 356,672 | | | $ | 309,382 | | | $ | 245,503 | | | $ | 109,283 | |
Receivable for portfolio shares issued | | | — | | | | — | | | | — | | | | 2 | |
Receivable from investments sold | | | 4,175 | | | | — | | | | — | | | | — | |
Dividends and interest receivable | | | 1,025 | | | | 3,108 | | | | 569 | | | | 1,318 | |
TBA sale commitments receivable | | | — | | | | — | | | | 107 | | | | — | |
Prepaid expenses | | | 14 | | | | 8 | | | | 7 | | | | 6 | |
| | | | | | | | | | | | | | | | |
Total assets | | | 361,886 | | | | 312,498 | | | | 246,186 | | | | 110,609 | |
| | | | | | | | | | | | | | | | |
LIABILITIES: | | | | | | | | | | | | | | | | |
Distributions payable | | | 347 | | | | 146 | | | | 93 | | | | 4 | |
Payable for investments purchased | | | 4,161 | | | | — | | | | 29,509 | | | | 4,272 | |
Payable for portfolio shares redeemed | | | 63 | | | | 14 | | | | 13 | | | | 27 | |
TBA sale commitments, at fair value | | | — | | | | — | | | | 107 | | | | — | |
Advisory fees payable | | | 12 | | | | 20 | | | | 10 | | | | 11 | |
Management fees payable | | | 15 | | | | 12 | | | | 9 | | | | 4 | |
Administrative services fees payable | | | 13 | | | | 13 | | | | 16 | | | | 7 | |
Trustee fees payable | | | 1 | | | | 1 | | | | 1 | | | | — | |
Professional fees payable | | | 24 | | | | 19 | | | | 14 | | | | 6 | |
Custodian fees payable | | | 6 | | | | 4 | | | | 4 | | | | 1 | |
Other accrued expenses | | | 15 | | | | 14 | | | | 7 | | | | 3 | |
| | | | | | | | | | | | | | | | |
Total liabilities | | | 4,657 | | | | 243 | | | | 29,783 | | | | 4,335 | |
| | | | | | | | | | | | | | | | |
NET ASSETS | | $ | 357,229 | | | $ | 312,255 | | | $ | 216,403 | | | $ | 106,274 | |
| | | | | | | | | | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 35 | | | $ | 30 | | | $ | 23 | | | $ | 11 | |
Additionalpaid-in capital | | | 349,001 | | | | 299,406 | | | | 224,197 | | | | 104,939 | |
Total distributable earnings/(loss) | | | 8,193 | | | | 12,819 | | | | (7,817 | ) | | | 1,324 | |
| | | | | | | | | | | | | | | | |
Net Assets | | $ | 357,229 | | | $ | 312,255 | | | $ | 216,403 | | | $ | 106,274 | |
| | | | | | | | | | | | | | | | |
NET ASSETS: | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 357,229 | | | $ | 312,255 | | | $ | 216,403 | | | $ | 106,274 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 357,229 | | | $ | 312,255 | | | $ | 216,403 | | | $ | 106,274 | |
| | | | | | | | | | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | 35,032 | | | | 30,341 | | | | 22,604 | | | | 10,698 | |
| | | | | | | | | | | | | | | | |
Total | | | 35,032 | | | | 30,341 | | | | 22,604 | | | | 10,698 | |
| | | | | | | | | | | | | | | | |
Net Asset Value, offering and redemption price per share:(a) | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | 10.19 | | | $ | 10.29 | | | $ | 9.57 | | | $ | 9.93 | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | |
Investments in securities, at cost | | $ | 348,116 | | | $ | 295,782 | | | $ | 243,671 | | | $ | 107,989 | |
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.
277
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of June 30, 2019
(Amounts in thousands, except per share amounts)
| | | | | | | | |
| | | The Intermediate
Term Municipal
Bond Portfolio | | | The Intermediate
Term Municipal
Bond II Portfolio | |
ASSETS: | | | | | | | | |
Investments in securities, at value | | $ | 390,233 | | | $ | 79,638 | |
Cash | | | 3,620 | | | | — | |
Receivable for portfolio shares issued | | | 314 | | | | 105 | |
Receivable from investments sold | | | 256 | | | | — | |
Dividends and interest receivable | | | 3,943 | | | | 941 | |
Prepaid expenses | | | 11 | | | | 10 | |
| | | | | | | | |
Total assets | | | 398,377 | | | | 80,694 | |
| | | | | | | | |
LIABILITIES: | | | | | | | | |
Distributions payable | | | 21 | | | | 5 | |
Payable for investments purchased | | | 4,812 | | | | 1,925 | |
Payable for portfolio shares redeemed | | | 213 | | | | 33 | |
Advisory fees payable | | | 158 | | | | 8 | |
Management fees payable | | | 16 | | | | 3 | |
Administrative services fees payable | | | 14 | | | | 6 | |
Trustee fees payable | | | 1 | | | | — | |
Professional fees payable | | | 25 | | | | 5 | |
Custodian fees payable | | | 5 | | | | 1 | |
Other accrued expenses | | | 15 | | | | 3 | |
| | | | | | | | |
Total liabilities | | | 5,280 | | | | 1,989 | |
| | | | | | | | |
NET ASSETS | | $ | 393,097 | | | $ | 78,705 | |
| | | | | | | | |
NET ASSETS CONSISTS OF: | | | | | | | | |
Shares of beneficial interest, at par value | | $ | 38 | | | $ | 8 | |
Additionalpaid-in capital | | | 387,070 | | | | 75,873 | |
Total distributable earnings | | | 5,989 | | | | 2,824 | |
| | | | | | | | |
Net Assets | | $ | 393,097 | | | $ | 78,705 | |
| | | | | | | | |
NET ASSETS: | | | | | | | | |
HC Strategic Shares | | $ | 393,097 | | | $ | 78,705 | |
| | | | | | | | |
Total | | $ | 393,097 | | | $ | 78,705 | |
| | | | | | | | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING | | | | | | | | |
(Unlimited number of shares authorized; par value $0.001): | | | | | | | | |
HC Strategic Shares | | | 38,496 | | | | 7,581 | |
| | | | | | | | |
Total | | | 38,496 | | | | 7,581 | |
| | | | | | | | |
Net Asset Value, offering and redemption price per share:(a) | | | | | | | | |
HC Strategic Shares | | $ | 10.21 | | | $ | 10.38 | |
| | | | | | | | |
Investments in securities, at cost | | $ | 384,322 | | | $ | 76,848 | |
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.
278
HC CAPITAL TRUST
Statements of Operations
For the Year Ended June 30, 2019
(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 | | | $ | 100 | | | $ | 17 | | | $ | 78 | |
Dividends (net of foreign withholding tax of $7, $3, $0 and $5, respectively) | | | 13,065 | | | | 24,919 | | | | 12,100 | | | | 19,786 | |
Income from securities lending | | | 21 | | | | — | | | | 62 | | | | 24 | |
| | | | | | | | | | | | | | | | |
Total Investment Income | | | 13,099 | | | | 25,019 | | | | 12,179 | | | | 19,888 | |
| | | | | | | | | | | | | | | | |
EXPENSES: | | | | | | | | | | | | | | | | |
Advisory fees | | | 484 | | | | 689 | | | | 1,039 | | | | 1,353 | |
Management fees | | | 290 | | | | 511 | | | | 396 | | | | 643 | |
Administrative services fees | | | 192 | | | | 331 | | | | 251 | | | | 409 | |
Distribution fees – HC Advisors Shares(a) | | | 1 | | | | 1 | | | | 1 | | | | 1 | |
Professional fees | | | 84 | | | | 132 | | | | 99 | | | | 168 | |
Transfer agent fees | | | 14 | | | | 25 | | | | 19 | | | | 33 | |
Compliance service fees | | | 10 | | | | 18 | | | | 14 | | | | 24 | |
Custodian fees | | | 51 | | | | 79 | | | | 66 | | | | 104 | |
Registration and filing fees | | | 18 | | | | 13 | | | | 18 | | | | 12 | |
Trustee fees | | | 32 | | | | 56 | | | | 44 | | | | 75 | |
Other | | | 52 | | | | 85 | | | | 61 | | | | 115 | |
| | | | | | | | | | | | | | | | |
Total expenses before waivers and expenses paid indirectly | | | 1,228 | | | | 1,940 | | | | 2,008 | | | | 2,937 | |
Less: Expenses waived by Specialist Manager | | | — | | | | (1 | ) | | | — | | | | — | |
Distribution fees waived – HC Advisors Shares(a) | | | (1 | ) | | | (1 | ) | | | (1 | ) | | | (1 | ) |
Expenses paid indirectly | | | (5 | ) | | | (5 | ) | | | (5 | ) | | | (8 | ) |
| | | | | | | | | | | | | | | | |
Net Expenses | | | 1,222 | | | | 1,933 | | | | 2,002 | | | | 2,928 | |
| | | | | | | | | | | | | | | | |
Net Investment Income | | | 11,877 | | | | 23,086 | | | | 10,177 | | | | 16,960 | |
| | | | | | | | | | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments in securities and foreign currency translations | | | 5,721 | | | | 27,960 | | | | 36,551 | | | | 179,083 | |
Net realized gains/(losses) from futures transactions | | | (985 | ) | | | 24,079 | | | | 617 | | | | 25,612 | |
| | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments | | | 4,736 | | | | 52,039 | | | | 37,168 | | | | 204,695 | |
Change in unrealized appreciation/(depreciation) on investments in securities and foreign currency translations | | | 32,737 | | | | 25,120 | | | | 40,600 | | | | (62,413 | ) |
Change in unrealized appreciation/(depreciation) on futures | | | 894 | | | | 6,502 | | | | 316 | | | | 1,368 | |
| | | | | | | | | | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | 33,631 | | | | 31,622 | | | | 40,916 | | | | (61,045 | ) |
| | | | | | | | | | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | 38,367 | | | | 83,661 | | | | 78,084 | | | | 143,650 | |
| | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | $ | 50,244 | | | $ | 106,747 | | | $ | 88,261 | | | $ | 160,610 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
279
HC CAPITAL TRUST
Statements of Operations (continued)
For the Year Ended June 30, 2019
(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 | | $ | 7 | | | $ | 6 | | | $ | 6 | | | $ | 482 | |
Dividends (net of foreign withholding tax of $3, $3, $0 and $1,145, respectively) | | | 957 | | | | 1,515 | | | | 3,442 | | | | 14,617 | |
Income from securities lending | | | 56 | | | | 89 | | | | — | | | | 65 | |
| | | | | | | | | | | | | | | | |
Total Investment Income | | | 1,020 | | | | 1,610 | | | | 3,448 | | | | 15,164 | |
| | | | | | | | | | | | | | | | |
EXPENSES: | | | | | | | | | | | | | | | | |
Advisory fees | | | 485 | | | | 617 | | | | 810 | | | | 1,039 | |
Management fees | | | 50 | | | | 77 | | | | 65 | | | | 259 | |
Administrative services fees | | | 52 | | | | 80 | | | | 50 | | | | 184 | |
Distribution fees – HC Advisors Shares(b) | | | — | | | | — | | | | — | | | | 1 | |
Professional fees | | | 15 | | | | 23 | | | | 16 | | | | 92 | |
Transfer agent fees | | | 2 | | | | 4 | | | | 3 | | | | 12 | |
Compliance service fees | | | 2 | | | | 3 | | | | 2 | | | | 9 | |
Custodian fees | | | 18 | | | | 29 | | | | 15 | | | | 164 | |
Registration and filing fees | | | 16 | | | | 13 | | | | 15 | | | | 17 | |
Trustee fees | | | 6 | | | | 9 | | | | 7 | | | | 31 | |
Other | | | 32 | | | | 14 | | | | 14 | | | | 59 | |
| | | | | | | | | | | | | | | | |
Total expenses before waivers and expenses paid indirectly | | | 678 | | | | 869 | | | | 997 | | | | 1,867 | |
Less: Expenses waived by Specialist Manager | | | — | | | | — | | | | — | | | | (222 | ) |
Distribution fees waived – HC Advisors Shares(b) | | | — | | | | — | | | | — | | | | (1 | ) |
Expenses paid indirectly | | | (15 | ) | | | (10 | ) | | | (2 | ) | | | (2 | ) |
| | | | | | | | | | | | | | | | |
Net Expenses | | | 663 | | | | 859 | | | | 995 | | | | 1,642 | |
| | | | | | | | | | | | | | | | |
Net Investment Income | | | 357 | | | | 751 | | | | 2,453 | | | | 13,522 | |
| | | | | | | | | | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments in securities and foreign currency translations | | | 7,815 | | | | 12,827 | | | | 4,570 | | | | 7,207 | |
Net realized gains/(losses) from futures transactions | | | (421 | ) | | | (300 | ) | | | 362 | | | | 7,969 | |
Net realized gains/(losses) from written options transactions | | | — | | | | — | | | | — | | | | 4 | |
Net realized gains/(losses) from swap transactions | | | — | | | | — | | | | — | | | | (279 | ) |
Net realized gains/(losses) from forward currency contracts transactions | | | — | | | | — | | | | — | | | | (479 | ) |
| | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments | | | 7,394 | | | | 12,527 | | | | 4,932 | | | | 14,422 | |
Change in unrealized appreciation/(depreciation) on investments in securities and foreign currency translations | | | (9,862 | ) | | | (11,909 | ) | | | 8,099 | | | | (122,373 | ) |
Change in unrealized appreciation/(depreciation) on futures | | | 141 | | | | 239 | | | | (275 | ) | | | 1,501 | |
Change in unrealized appreciation/(depreciation) on swaps | | | — | | | | — | | | | — | | | | 109 | |
| | | | | | | | | | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | (9,721 | ) | | | (11,670 | ) | | | 7,824 | | | | (120,763 | ) |
| | | | | | | | | | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | (2,327 | ) | | | 857 | | | | 12,756 | | | | (106,341 | ) |
| | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | $ | (1,970 | ) | | $ | 1,608 | | | $ | 15,209 | | | $ | (92,819 | ) |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Statement has been consolidated. See Note 2.N. in the Notes to Financial Statements for basis of consolidation. |
| (b) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
280
HC CAPITAL TRUST
Statements of Operations (continued)
For the Year Ended June 30, 2019
(Amounts in thousands)
| | | | | | | | | | | | | | | | |
| | | The ESG
Growth
Portfolio | | | The Catholic
SRI Growth
Portfolio | | | The International
Equity
Portfolio | | | The Institutional
International
Equity Portfolio | |
INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
Interest | | $ | 4 | | | $ | — | | | $ | 91 | | | $ | 116 | |
Dividends (net of foreign withholding tax of $344, $97, $3,250 and $8,133, respectively) | | | 4,347 | | | | 1,317 | | | | 39,316 | | | | 84,547 | |
Income from securities lending | | | — | | | | 5 | | | | 298 | | | | 768 | |
| | | | | | | | | | | | | | | | |
Total Investment Income | | | 4,351 | | | | 1,322 | | | | 39,705 | | | | 85,431 | |
| | | | | | | | | | | | | | | | |
EXPENSES: | | | | | | | | | | | | | | | | |
Advisory fees | | | 250 | | | | 72 | | | | 3,407 | | | | 6,167 | |
Management fees | | | 76 | | | | 23 | | | | 528 | | | | 1,101 | |
Administrative services fees | | | 85 | | | | 49 | | | | 369 | | | | 724 | |
Distribution fees – HC Advisors Shares(a) | | | — | | | | — | | | | 2 | | | | 1 | |
Professional fees | | | 22 | | | | 7 | | | | 131 | | | | 277 | |
Transfer agent fees | | | 4 | | | | 1 | | | | 24 | | | | 55 | |
Compliance service fees | | | 3 | | | | 1 | | | | 18 | | | | 41 | |
Custodian fees | | | 32 | | | | 16 | | | | 311 | | | | 507 | |
Registration and filing fees | | | 13 | | | | — | | | | 18 | | | | 13 | |
Trustee fees | | | 9 | | | | 3 | | | | 57 | | | | 125 | |
Other | | | 27 | | | | 13 | | | | 99 | | | | 200 | |
| | | | | | | | | | | | | | | | |
Total expenses before waivers and expenses paid indirectly | | | 521 | | | | 185 | | | | 4,964 | | | | 9,211 | |
Less: Expenses waived by Specialist Manager | | | (2 | ) | | | (1 | ) | | | — | | | | — | |
Distribution fees waived – HC Advisors Shares(a) | | | — | | | | — | | | | (2 | ) | | | (1 | ) |
Expenses paid indirectly | | | — | | | | — | | | | (14 | ) | | | (8 | ) |
Expenses waived and/or reimbursed by Advisor | | | — | | | | (43 | ) | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Net Expenses | | | 519 | | | | 141 | | | | 4,948 | | | | 9,202 | |
| | | | | | | | | | | | | | | | |
Net Investment Income | | | 3,832 | | | | 1,181 | | | | 34,757 | | | | 76,229 | |
| | | | | | | | | | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments in securities and foreign currency translations | | | 11,825 | | | | 3,182 | | | | (8,716 | ) | | | (2,821 | ) |
Net realized gains/(losses) from futures transactions | | | 179 | | | | — | | | | (1,943 | ) | | | 2,827 | |
Net realized gains/(losses) from forward currency contracts transactions | | | (62 | ) | | | (23 | ) | | | (289 | ) | | | (202 | ) |
| | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments | | | 11,942 | | | | 3,159 | | | | (10,948 | ) | | | (196 | ) |
Change in unrealized appreciation/(depreciation) on investments in securities and foreign currency translations | | | (13,717 | ) | | | (3,046 | ) | | | (45,814 | ) | | | (83,060 | ) |
Change in unrealized appreciation/(depreciation) on futures | | | 173 | | | | — | | | | 2,903 | | | | 2,779 | |
Change in unrealized appreciation/(depreciation) on forward currency contracts | | | — | | | | — | | | | (7 | ) | | | (17 | ) |
| | | | | | | | | | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | (13,544 | ) | | | (3,046 | ) | | | (42,918 | ) | | | (80,298 | ) |
| | | | | | | | | | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | (1,602 | ) | | | 113 | | | | (53,866 | ) | | | (80,494 | ) |
| | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | $ | 2,230 | | | $ | 1,294 | | | $ | (19,109 | ) | | $ | (4,265 | ) |
| | | | | | | | | | | | | | | | |
��
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
281
HC CAPITAL TRUST
Statements of Operations (continued)
For the Year Ended June 30, 2019
(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 | | $ | 37 | | | $ | 1,877 | | | $ | 38,145 | | | $ | 6,470 | |
Dividends (net of foreign withholding tax of $4,878, $0, $0 and $0, respectively) | | | 44,271 | | | | 94 | | | | 2,641 | | | | 21 | |
Income from securities lending | | | 239 | | | | — | | | | 483 | | | | — | |
| | | | | | | | | | | | | | | | |
Total Investment Income | | | 44,547 | | | | 1,971 | | | | 41,269 | | | | 6,491 | |
| | | | | | | | | | | | | | | | |
EXPENSES: | | | | | | | | | | | | | | | | |
Advisory fees | | | 5,768 | | | | 44 | | | | 2,189 | | | | 161 | |
Management fees | | | 791 | | | | 33 | | | | 329 | | | | 134 | |
Administrative services fees | | | 525 | | | | 109 | | | | 252 | | | | 111 | |
Distribution fees – HC Advisors Shares(a) | | | 1 | | | | 1 | | | | — | | | | — | |
Professional fees | | | 218 | | | | 8 | | | | 81 | | | | 35 | |
Transfer agent fees | | | 40 | | | | 2 | | | | 16 | | | | 7 | |
Compliance service fees | | | 30 | | | | 1 | | | | 12 | | | | 5 | |
Custodian fees | | | 1,591 | | | | 16 | | | | 87 | | | | 21 | |
Registration and filing fees | | | 14 | | | | 10 | | | | 12 | | | | 13 | |
Trustee fees | | | 91 | | | | 4 | | | | 38 | | | | 16 | |
Other | | | 132 | | | | 7 | | | | 54 | | | | 24 | |
| | | | | | | | | | | | | | | | |
Total expenses before waivers and expenses paid indirectly | | | 9,201 | | | | 235 | | | | 3,070 | | | | 527 | |
Less: Distribution fees waived – HC Advisors Shares(a) | | | (1 | ) | | | (1 | ) | | | — | | | | — | |
Expenses paid indirectly | | | (12 | ) | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Net Expenses | | | 9,188 | | | | 234 | | | | 3,070 | | | | 527 | |
| | | | | | | | | | | | | | | | |
Net Investment Income | | | 35,359 | | | | 1,737 | | | | 38,199 | | | | 5,964 | |
| | | | | | | | | | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investment in securities and foreign currency translations | | | (54,248 | ) | | | (208 | ) | | | 967 | | | | (572 | ) |
Net realized gains/(losses) from futures transactions | | | (1,546 | ) | | | — | | | | (1,137 | ) | | | — | |
Net realized gains/(losses) from written options and swaptions transactions | | | — | | | | — | | | | 413 | | | | — | |
Net realized gains/(losses) from swap transactions | | | — | | | | — | | | | (172 | ) | | | — | |
Net realized gains/(losses) from forward currency contracts transactions | | | (496 | ) | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments | | | (56,290 | ) | | | (208 | ) | | | 71 | | | | (572 | ) |
Change in unrealized appreciation/(depreciation) on investments in securities and foreign currency translations (net of deferred foreign tax) | | | 75,601 | | | | 3,640 | | | | 15,293 | | | | 14,782 | |
Change in unrealized appreciation/(depreciation) on futures | | | 1,768 | | | | — | | | | 203 | | | | — | |
Change in unrealized appreciation/(depreciation) on swaps | | | — | | | | — | | | | 221 | | | | — | |
Change in unrealized appreciation/(depreciation) on forward currency contracts | | | (98 | ) | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | 77,271 | | | | 3,640 | | | | 15,717 | | | | 14,782 | |
| | | | | | | | | | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | 20,981 | | | | 3,432 | | | | 15,788 | | | | 14,210 | |
| | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | $ | 56,340 | | | $ | 5,169 | | | $ | 53,987 | | | $ | 20,174 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
282
HC CAPITAL TRUST
Statements of Operations (continued)
For the Year Ended June 30, 2019
(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 | | $ | 9,251 | | | $ | 10,659 | | | $ | 5,193 | | | $ | 1,636 | |
Dividends | | | 131 | | | | 126 | | | | 686 | | | | 62 | |
| | | | | | | | | | | | | | | | |
Total Investment Income | | | 9,382 | | | | 10,785 | | | | 5,879 | | | | 1,698 | |
| | | | | | | | | | | | | | | | |
EXPENSES: | | | | | | | | | | | | | | | | |
Advisory fees | | | 150 | | | | 231 | | | | 121 | | | | 115 | |
Management fees | | | 191 | | | | 146 | | | | 103 | | | | 46 | |
Administrative services fees | | | 128 | | | | 115 | | | | 174 | | | | 52 | |
Distribution fees – HC Advisors Shares(a) | | | — | | | | — | | | | — | | | | — | |
Professional fees | | | 48 | | | | 37 | | | | 27 | | | | 12 | |
Transfer agent fees | | | 10 | | | | 7 | | | | 5 | | | | 2 | |
Compliance service fees | | | 7 | | | | 5 | | | | 4 | | | | 2 | |
Custodian fees | | | 31 | | | | 24 | | | | 25 | | | | 8 | |
Registration and filing fees | | | 20 | | | | 13 | | | | 13 | | | | 10 | |
Trustee fees | | | 22 | | | | 17 | | | | 12 | | | | 5 | |
Other | | | 33 | | | | 26 | | | | 20 | | | | 10 | |
| | | | | | | | | | | | | | | | |
Total expenses before waivers | | | 640 | | | | 621 | | | | 504 | | | | 262 | |
Less: Distribution fees waived – HC Advisors Shares(a) | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | |
Net Expenses | | | 640 | | | | 621 | | | | 504 | | | | 262 | |
| | | | | | | | | | | | | | | | |
Net Investment Income | | | 8,742 | | | | 10,164 | | | | 5,375 | | | | 1,436 | |
| | | | | | | | | | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
Net realized gains/(losses) from investments in securities | | | (1,262 | ) | | | (523 | ) | | | 636 | | | | (1 | ) |
| | | | | | | | | | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | 8,685 | | | | 21,518 | | | | 5,649 | | | | 1,311 | |
| | | | | | | | | | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | 7,423 | | | | 20,995 | | | | 6,285 | | | | 1,310 | |
| | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | $ | 16,165 | | | $ | 31,159 | | | $ | 11,660 | | | $ | 2,746 | |
| | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
283
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Year Ended June 30, 2019
(Amounts in thousands)
| | | | | | | | |
| | | The Intermediate
Term Municipal
Bond Portfolio | | | The Intermediate
Term Municipal
Bond II Portfolio | |
INVESTMENT INCOME: | | | | | | | | |
Interest | | $ | 8,063 | | | $ | 1,861 | |
Dividends | | | 1,695 | | | | 51 | |
| | | | | | | | |
Total Investment Income | | | 9,758 | | | | 1,912 | |
| | | | | | | | |
EXPENSES: | | | | | | | | |
Advisory fees | | | 733 | | | | 95 | |
Management fees | | | 193 | | | | 39 | |
Administrative services fees | | | 145 | | | | 47 | |
Distribution fees – HC Advisors Shares(a) | | | 1 | | | | — | |
Professional fees | | | 49 | | | | 12 | |
Transfer agent fees | | | 10 | | | | 2 | |
Compliance service fees | | | 7 | | | | 2 | |
Custodian fees | | | 30 | | | | 10 | |
Registration and filing fees | | | 14 | | | | 11 | |
Trustee fees | | | 22 | | | | 5 | |
Other | | | 40 | | | | 15 | |
| | | | | | | | |
Total expenses before waivers | | | 1,244 | | | | 238 | |
Less: Distribution fees waived – HC Advisors Shares(a) | | | (1 | ) | | | — | |
| | | | | | | | |
Net Expenses | | | 1,243 | | | | 238 | |
| | | | | | | | |
Net Investment Income | | | 8,515 | | | | 1,674 | |
| | | | | | | | |
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | | | | | | | | |
Net realized gains/(losses) from investments in securities | | | 322 | | | | 55 | |
| | | | | | | | |
Change in unrealized appreciation/(depreciation) on investments | | | 11,738 | | | | 2,276 | |
| | | | | | | | |
Net realized/unrealized gains/(losses) from investments | | | 12,060 | | | | 2,331 | |
| | | | | | | | |
Change in net assets resulting from operations | | $ | 20,575 | | | $ | 4,005 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
284
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 11,877 | | | $ | 13,021 | | | $ | 23,086 | | | $ | 17,659 | | | $ | 10,177 | | | $ | 7,774 | |
Net realized gains/(losses) from investments | | | 4,736 | | | | 37,822 | | | | 52,039 | | | | 67,838 | | | | 37,168 | | | | 53,136 | |
Change in unrealized appreciation/(depreciation) from investments | | | 33,631 | | | | 4,627 | | | | 31,622 | | | | (18,888 | ) | | | 40,916 | | | | 81,390 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 50,244 | | | | 55,470 | | | | 106,747 | | | | 66,609 | | | | 88,261 | | | | 142,300 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (42,981 | ) | | | (41,613 | ) | | | (86,136 | ) | | | (72,209 | ) | | | (53,543 | ) | | | (46,030 | ) |
HC Advisors Shares(a) | | | (30 | ) | | | (58 | ) | | | (20 | ) | | | (127 | ) | | | (36 | ) | | | (64 | ) |
| | | | | | | | | | | | | | | | | | | | | | �� | | |
Change in net assets resulting from distributions | | | (43,011 | ) | | | (41,671 | ) | | | (86,156 | ) | | | (72,336 | ) | | | (53,579 | ) | | | (46,094 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 28,980 | | | | 14,232 | | | | 600,228 | | | | 174,514 | | | | 21,813 | | | | 11,927 | |
Proceeds from reinvestment of dividends | | | 37,868 | | | | 36,777 | | | | 85,199 | | | | 71,888 | | | | 46,104 | | | | 40,172 | |
Cost of shares redeemed | | | (89,821 | ) | | | (77,844 | ) | | | (136,809 | ) | | | (109,132 | ) | | | (108,675 | ) | | | (125,879 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | (22,973 | ) | | | (26,835 | ) | | | 548,618 | | | | 137,270 | | | | (40,758 | ) | | | (73,780 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 13 | | | | 33 | | | | 27 | | | | 127 | | | | 15 | | | | 6 | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | (648 | ) | | | (218 | ) | | | (756 | ) | | | (889 | ) | | | (891 | ) | | | (323 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | (635 | ) | | | (185 | ) | | | (729 | ) | | | (762 | ) | | | (876 | ) | | | (317 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | (23,608 | ) | | | (27,020 | ) | | | 547,889 | | | | 136,508 | | | | (41,634 | ) | | | (74,097 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | (16,375 | ) | | | (13,221 | ) | | | 568,480 | | | | 130,781 | | | | (6,952 | ) | | | 22,109 | |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 600,132 | | | | 613,353 | | | | 929,421 | | | | 798,640 | | | | 809,790 | | | | 787,681 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 583,757 | | | $ | 600,132 | | | $ | 1,497,901 | | | $ | 929,421 | | | $ | 802,838 | | | $ | 809,790 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 1,530 | | | | 700 | | | | 48,878 | | | | 13,104 | | | | 993 | | | | 522 | |
Reinvested | | | 2,111 | | | | 1,807 | | | | 7,409 | | | | 5,414 | | | | 2,178 | | | | 1,799 | |
Redeemed | | | (4,800 | ) | | | (3,827 | ) | | | (10,868 | ) | | | (8,182 | ) | | | (4,786 | ) | | | (5,599 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | (1,159 | ) | | | (1,320 | ) | | | 45,419 | | | | 10,336 | | | | (1,615 | ) | | | (3,278 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 1 | | | | 1 | | | | 2 | | | | 9 | | | | 1 | | | | — | |
Redeemed | | | (35 | ) | | | (11 | ) | | | (59 | ) | | | (67 | ) | | | (40 | ) | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | (34 | ) | | | (10 | ) | | | (57 | ) | | | (58 | ) | | | (39 | ) | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | (1,193 | ) | | | (1,330 | ) | | | 45,362 | | | | 10,278 | | | | (1,654 | ) | | | (3,293 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
285
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 16,960 | | | $ | 11,708 | | | $ | 357 | | | $ | 405 | | | $ | 751 | | | $ | 774 | |
Net realized gains/(losses) from investments | | | 204,695 | | | | 93,520 | | | | 7,394 | | | | 9,846 | | | | 12,527 | | | | 30,536 | |
Change in unrealized appreciation/(depreciation) from investments | | | (61,045 | ) | | | 86,809 | | | | (9,721 | ) | | | 7,276 | | | | (11,670 | ) | | | (4,556 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 160,610 | | | | 192,037 | | | | (1,970 | ) | | | 17,527 | | | | 1,608 | | | | 26,754 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (100,792 | ) | | | (54,197 | ) | | | (9,174 | ) | | | (391 | ) | | | (33,456 | ) | | | (14,253 | ) |
HC Advisors Shares(a) | | | (25 | ) | | | (98 | ) | | | (6 | ) | | | (1 | ) | | | (8 | ) | | | (23 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (100,817 | ) | | | (54,295 | ) | | | (9,180 | ) | | | (392 | ) | | | (33,464 | ) | | | (14,276 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 431,839 | | | | 151,336 | | | | 2,553 | | | | 3,677 | | | | 19,760 | | | | 18,867 | |
Proceeds from reinvestment of dividends | | | 99,183 | | | | 53,469 | | | | 8,315 | | | | 323 | | | | 33,262 | | | | 14,112 | |
Cost of shares redeemed | | | (242,575 | ) | | | (188,900 | ) | | | (14,609 | ) | | | (18,022 | ) | | | (33,534 | ) | | | (29,666 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | 288,447 | | | | 15,905 | | | | (3,741 | ) | | | (14,022 | ) | | | 19,488 | | | | 3,313 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 32 | | | | 11 | | | | 3 | | | | — | | | | 10 | | | | 26 | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | (1,054 | ) | | | (1,219 | ) | | | (108 | ) | | | (39 | ) | | | (133 | ) | | | (154 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | (1,022 | ) | | | (1,208 | ) | | | (105 | ) | | | (39 | ) | | | (123 | ) | | | (128 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | 287,425 | | | | 14,697 | | | | (3,846 | ) | | | (14,061 | ) | | | 19,365 | | | | 3,185 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | 347,218 | | | | 152,439 | | | | (14,996 | ) | | | 3,074 | | | | (12,491 | ) | | | 15,663 | |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 1,188,741 | | | | 1,036,302 | | | | 110,610 | | | | 107,536 | | | | 159,906 | | | | 144,243 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 1,535,959 | | | $ | 1,188,741 | | | $ | 95,614 | | | $ | 110,610 | | | $ | 147,415 | | | $ | 159,906 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 25,010 | | | | 8,511 | | | | 95 | | | | 134 | | | | 1,362 | | | | 1,066 | |
Reinvested | | | 6,154 | | | | 3,080 | | | | 368 | | | | 12 | | | | 2,767 | | | | 828 | |
Redeemed | | | (13,348 | ) | | | (10,746 | ) | | | (563 | ) | | | (659 | ) | | | (2,348 | ) | | | (1,638 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | 17,816 | | | | 845 | | | | (100 | ) | | | (513 | ) | | | 1,781 | | | | 256 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 2 | | | | 1 | | | | — | | | | — | | | | 1 | | | | 1 | |
Redeemed | | | (58 | ) | | | (70 | ) | | | (4 | ) | | | (1 | ) | | | (8 | ) | | | (9 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | (56 | ) | | | (69 | ) | | | (4 | ) | | | (1 | ) | | | (7 | ) | | | (8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | 17,760 | | | | 776 | | | | (104 | ) | | | (514 | ) | | | 1,774 | | | | 248 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
286
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 2,453 | | | $ | 2,175 | | | $ | 13,522 | | | $ | 20,980 | | | $ | 3,832 | | | $ | 4,318 | |
Net realized gains/(losses) from investments | | | 4,932 | | | | 1,711 | | | | 14,422 | | | | 20,397 | | | | 11,942 | | | | 1,856 | |
Change in unrealized appreciation/(depreciation) from investments | | | 7,824 | | | | 646 | | | | (120,763 | ) | | | 100,666 | | | | (13,544 | ) | | | 8,860 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 15,209 | | | | 4,532 | | | | (92,819 | ) | | | 142,043 | | | | 2,230 | | | | 15,034 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (3,952 | ) | | | (5,588 | ) | | | (14,912 | ) | | | (25,672 | ) | | | (8,913 | ) | | | (4,367 | ) |
HC Advisors Shares(b) | | | — | | | | — | | | | (6 | ) | | | (31 | ) | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (3,952 | ) | | | (5,588 | ) | | | (14,918 | ) | | | (25,703 | ) | | | (8,913 | ) | | | (4,367 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 13,081 | | | | 16,037 | | | | 14,080 | | | | 59,959 | | | | 5,591 | | | | 9,739 | |
Proceeds from reinvestment of dividends | | | 3,682 | | | | 5,446 | | | | 11,539 | | | | 21,931 | | | | 5,792 | | | | 1,277 | |
Cost of shares redeemed | | | (39,552 | ) | | | (12,620 | ) | | | (619,892 | ) | | | (101,457 | ) | | | (22,245 | ) | | | (3,803 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | (22,789 | ) | | | 8,863 | | | | (594,273 | ) | | | (19,567 | ) | | | (10,862 | ) | | | 7,213 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(b) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | — | | | | — | | | | 13 | | | | 83 | | | | — | | | | — | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | — | | | | — | | | | (663 | ) | | | (613 | ) | | | (1 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | — | | | | — | | | | (650 | ) | | | (530 | ) | | | (1 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | (22,789 | ) | | | 8,863 | | | | (594,923 | ) | | | (20,097 | ) | | | (10,863 | ) | | | 7,213 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | (11,532 | ) | | | 7,807 | | | | (702,660 | ) | | | 96,243 | | | | (17,546 | ) | | | 17,880 | |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 131,601 | | | | 123,794 | | | | 862,129 | | | | 765,886 | | | | 166,524 | | | | 148,644 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 120,069 | | | $ | 131,601 | | | $ | 159,469 | | | $ | 862,129 | | | $ | 148,978 | | | $ | 166,524 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 4,193 | | | | 5,549 | | | | 1,491 | | | | 6,283 | | | | 529 | | | | 837 | |
Reinvested | | | 1,281 | | | | 1,840 | | | | 1,301 | | | | 2,322 | | | | 565 | | | | 112 | |
Redeemed | | | (12,671 | ) | | | (4,276 | ) | | | (73,508 | ) | | | (10,504 | ) | | | (2,038 | ) | | | (328 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | (7,197 | ) | | | 3,113 | | | | (70,716 | ) | | | (1,899 | ) | | | (944 | ) | | | 621 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(b) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | — | | | | — | | | | — | | | | 10 | | | | — | | | | — | |
Redeemed | | | — | | | | — | | | | (72 | ) | | | (64 | ) | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | — | | | | — | | | | (72 | ) | | | (54 | ) | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | (7,197 | ) | | | 3,113 | | | | (70,788 | ) | | | (1,953 | ) | | | (944 | ) | | | 621 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | Statement has been consolidated. Please see Note 2.N. in the Notes to Financial Statements for basis of consolidation. |
| (b) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
287
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 1,181 | | | $ | 790 | | | $ | 34,757 | | | $ | 37,564 | | | $ | 76,229 | | | $ | 81,258 | |
Net realized gains/(losses) from investments | | | 3,159 | | | | 848 | | | | (10,948 | ) | | | 10,324 | | | | (196 | ) | | | 109,552 | |
Change in unrealized appreciation/(depreciation) from investments | | | (3,046 | ) | | | 1,505 | | | | (42,918 | ) | | | 22,266 | | | | (80,298 | ) | | | (45,376 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 1,294 | | | | 3,143 | | | | (19,109 | ) | | | 70,154 | | | | (4,265 | ) | | | 145,434 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (3,740 | ) | | | (1,524 | ) | | | (35,540 | ) | | | (37,147 | ) | | | (175,500 | ) | | | (96,060 | ) |
HC Advisors Shares(a) | | | — | | | | — | | | | (3 | ) | | | (52 | ) | | | (35 | ) | | | (124 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (3,740 | ) | | | (1,524 | ) | | | (35,543 | ) | | | (37,199 | ) | | | (175,535 | ) | | | (96,184 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 22,409 | | | | 122 | | | | 47,958 | | | | 74,982 | | | | 111,172 | | | | 217,409 | |
Proceeds from reinvestment of dividends | | | 3,740 | | | | 1,524 | | | | 24,844 | | | | 26,226 | | | | 158,564 | | | | 80,159 | |
Cost of shares redeemed | | | (1,715 | ) | | | (1,844 | ) | | | (320,394 | ) | | | (155,020 | ) | | | (536,181 | ) | | | (466,891 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | 24,434 | | | | (198 | ) | | | (247,592 | ) | | | (53,812 | ) | | | (266,445 | ) | | | (169,323 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | — | | | | — | | | | 82 | | | | 1 | | | | 95 | | | | 100 | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | (1 | ) | | | — | | | | (1,631 | ) | | | (648 | ) | | | (1,895 | ) | | | (2,393 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | (1 | ) | | | — | | | | (1,549 | ) | | | (647 | ) | | | (1,800 | ) | | | (2,293 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | 24,433 | | | | (198 | ) | | | (249,141 | ) | | | (54,459 | ) | | | (268,245 | ) | | | (171,616 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | 21,987 | | | | 1,421 | | | | (303,793 | ) | | | (21,504 | ) | | | (448,045 | ) | | | (122,366 | ) |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 29,414 | | | | 27,993 | | | | 1,214,852 | | | | 1,236,356 | | | | 2,334,221 | | | | 2,456,587 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 51,401 | | | $ | 29,414 | | | $ | 911,059 | | | $ | 1,214,852 | | | $ | 1,886,176 | | | $ | 2,334,221 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 1,830 | | | | 10 | | | | 4,609 | | | | 6,628 | | | | 11,561 | | | | 19,692 | |
Reinvested | | | 341 | | | | 119 | | | | 2,422 | | | | 2,429 | | | | 17,309 | | | | 7,360 | |
Redeemed | | | (144 | ) | | | (143 | ) | | | (32,177 | ) | | | (13,814 | ) | | | (55,215 | ) | | | (42,632 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | 2,027 | | | | (14 | ) | | | (25,146 | ) | | | (4,757 | ) | | | (26,345 | ) | | | (15,580 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | — | | | | — | | | | 8 | | | | — | | | | 10 | | | | 9 | |
Redeemed | | | — | | | | — | | | | (163 | ) | | | (57 | ) | | | (187 | ) | | | (216 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | — | | | | — | | | | (155 | ) | | | (57 | ) | | | (177 | ) | | | (207 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | 2,027 | | | | (14 | ) | | | (25,301 | ) | | | (4,814 | ) | | | (26,522 | ) | | | (15,787 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
288
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 35,359 | | | $ | 37,719 | | | $ | 1,737 | | | $ | 1,807 | | | $ | 38,199 | | | $ | 37,315 | |
Net realized gains/(losses) from investments | | | (56,290 | ) | | | 73,320 | | | | (208 | ) | | | (14 | ) | | | 71 | | | | 7,004 | |
Change in unrealized appreciation/(depreciation) from investments | | | 77,271 | | | | (76,982 | ) | | | 3,640 | | | | (2,115 | ) | | | 15,717 | | | | (17,271 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 56,340 | | | | 34,057 | | | | 5,169 | | | | (322 | ) | | | 53,987 | | | | 27,048 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (29,759 | ) | | | (37,919 | ) | | | (1,823 | ) | | | (1,807 | ) | | | (38,443 | ) | | | (36,991 | ) |
HC Advisors Shares(a) | | | (15 | ) | | | (59 | ) | | | (8 | ) | | | (59 | ) | | | (4 | ) | | | (36 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (29,774 | ) | | | (37,978 | ) | | | (1,831 | ) | | | (1,866 | ) | | | (38,447 | ) | | | (37,027 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 139,680 | | | | 152,878 | | | | 11,131 | | | | 11,829 | | | | 47,965 | | | | 69,888 | |
Proceeds from reinvestment of dividends | | | 25,237 | | | | 32,032 | | | | 1,817 | | | | 1,802 | | | | 33,241 | | | | 32,361 | |
Cost of shares redeemed | | | (357,243 | ) | | | (324,405 | ) | | | (13,401 | ) | | | (31,780 | ) | | | (172,169 | ) | | | (92,686 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | (192,326 | ) | | | (139,495 | ) | | | (453 | ) | | �� | (18,149 | ) | | | (90,963 | ) | | | 9,563 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 101 | | | | 43 | | | | 11 | | | | 320 | | | | 1 | | | | 74 | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | (1,527 | ) | | | (1,325 | ) | | | (1,378 | ) | | | (1,829 | ) | | | (363 | ) | | | (495 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | (1,426 | ) | | | (1,282 | ) | | | (1,367 | ) | | | (1,509 | ) | | | (362 | ) | | | (421 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | (193,752 | ) | | | (140,777 | ) | | | (1,820 | ) | | | (19,658 | ) | | | (91,325 | ) | | | 9,142 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | (167,186 | ) | | | (144,698 | ) | | | 1,518 | | | | (21,846 | ) | | | (75,785 | ) | | | (837 | ) |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 1,633,314 | | | | 1,778,012 | | | | 66,749 | | | | 88,595 | | | | 673,633 | | | | 674,470 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 1,466,128 | | | $ | 1,633,314 | | | $ | 68,267 | | | $ | 66,749 | | | $ | 597,848 | | | $ | 673,633 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 7,970 | | | | 7,956 | | | | 1,160 | | | | 1,218 | | | | 7,007 | | | | 9,968 | |
Reinvested | | | 1,571 | | | | 1,658 | | | | 190 | | | | 186 | | | | 4,862 | | | | 4,672 | |
Redeemed | | | (20,514 | ) | | | (16,917 | ) | | | (1,398 | ) | | | (3,261 | ) | | | (24,924 | ) | | | (13,264 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | (10,973 | ) | | | (7,303 | ) | | | (48 | ) | | | (1,857 | ) | | | (13,055 | ) | | | 1,376 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 6 | | | | 3 | | | | 1 | | | | 32 | | | | — | | | | 10 | |
Redeemed | | | (88 | ) | | | (68 | ) | | | (144 | ) | | | (190 | ) | | | (53 | ) | | | (71 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | (82 | ) | | | (65 | ) | | | (143 | ) | | | (158 | ) | | | (53 | ) | | | (61 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | (11,055 | ) | | | (7,368 | ) | | | (191 | ) | | | (2,015 | ) | | | (13,108 | ) | | | 1,315 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
289
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 5,964 | | | $ | 3,951 | | | $ | 8,742 | | | $ | 10,021 | | | $ | 10,164 | | | $ | 8,031 | |
Net realized gains/(losses) from investments | | | (572 | ) | | | (604 | ) | | | (1,262 | ) | | | (534 | ) | | | (523 | ) | | | 336 | |
Change in unrealized appreciation/(depreciation) from investments | | | 14,782 | | | | (5,057 | ) | | | 8,685 | | | | (2,329 | ) | | | 21,518 | | | | (11,731 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 20,174 | | | | (1,710 | ) | | | 16,165 | | | | 7,158 | | | | 31,159 | | | | (3,364 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (5,899 | ) | | | (3,895 | ) | | | (9,032 | ) | | | (8,925 | ) | | | (10,131 | ) | | | (8,809 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (5,899 | ) | | | (3,895 | ) | | | (9,032 | ) | | | (8,925 | ) | | | (10,131 | ) | | | (8,809 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 81,740 | | | | 42,103 | | | | 22,684 | | | | 63,067 | | | | 29,116 | | | | 56,118 | |
Proceeds from reinvestment of dividends | | | 4,878 | | | | 3,129 | | | | 7,322 | | | | 7,611 | | | | 8,351 | | | | 7,308 | |
Cost of shares redeemed | | | (28,739 | ) | | | (21,845 | ) | | | (81,366 | ) | | | (29,451 | ) | | | (33,196 | ) | | | (19,205 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | 57,879 | | | | 23,387 | | | | (51,360 | ) | | | 41,227 | | | | 4,271 | | | | 44,221 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | — | | | | — | | | | (1 | ) | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | — | | | | — | | | | (1 | ) | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | 57,879 | | | | 23,387 | | | | (51,361 | ) | | | 41,227 | | | | 4,271 | | | | 44,221 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | 72,154 | | | | 17,782 | | | | (44,228 | ) | | | 39,460 | | | | 25,299 | | | | 32,048 | |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 233,377 | | | | 215,595 | | | | 401,457 | | | | 361,997 | | | | 286,956 | | | | 254,908 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 305,531 | | | $ | 233,377 | | | $ | 357,229 | | | $ | 401,457 | | | $ | 312,255 | | | $ | 286,956 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 8,575 | | | | 4,358 | | | | 2,296 | | | | 6,280 | | | | 2,985 | | | | 5,682 | |
Reinvested | | | 503 | | | | 322 | | | | 743 | | | | 757 | | | | 857 | | | | 738 | |
Redeemed | | | (2,968 | ) | | | (2,243 | ) | | | (8,211 | ) | | | (2,920 | ) | | | (3,408 | ) | | | (1,936 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | 6,110 | | | | 2,437 | | | | (5,172 | ) | | | 4,117 | | | | 434 | | | | 4,484 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Redeemed | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | 6,110 | | | | 2,437 | | | | (5,172 | ) | | | 4,117 | | | | 434 | | | | 4,484 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
290
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
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
Net investment income | | $ | 5,375 | | | $ | 4,283 | | | $ | 1,436 | | | $ | 367 | | | $ | 8,515 | | | $ | 7,639 | |
Net realized gains/(losses) from investments | | | 636 | | | | (686 | ) | | | (1 | ) | | | (2 | ) | | | 322 | | | | 1,004 | |
Change in unrealized appreciation/(depreciation) from investments | | | 5,649 | | | | (4,024 | ) | | | 1,311 | | | | (66 | ) | | | 11,738 | | | | (8,265 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from operations | | | 11,660 | | | | (427 | ) | | | 2,746 | | | | 299 | | | | 20,575 | | | | 378 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Distributions to Shareholders from: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | (6,006 | ) | | | (5,116 | ) | | | (1,415 | ) | | | (347 | ) | | | (8,566 | ) | | | (7,581 | ) |
HC Advisors Shares(a) | | | — | | | | — | | | | — | | | | — | | | | (8 | ) | | | (26 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets resulting from distributions | | | (6,006 | ) | | | (5,116 | ) | | | (1,415 | ) | | | (347 | ) | | | (8,574 | ) | | | (7,607 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | 23,624 | | | | 37,726 | | | | 35,021 | | | | 67,127 | | | | 34,264 | | | | 42,500 | |
Proceeds from reinvestment of dividends | | | 4,893 | | | | 4,123 | | | | 1,359 | | | | 340 | | | | 8,143 | | | | 7,137 | |
Cost of shares redeemed | | | (22,906 | ) | | | (15,002 | ) | | | (11,049 | ) | | | (5,595 | ) | | | (44,510 | ) | | | (44,369 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | 5,611 | | | | 26,847 | | | | 25,331 | | | | 61,872 | | | | (2,103 | ) | | | 5,268 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from shares issued | | | — | | | | — | | | | — | | | | — | | | | — | | | | 129 | |
Proceeds from reinvestment of dividends | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Cost of shares redeemed | | | — | | | | — | | | | — | | | | — | | | | (1,009 | ) | | | (530 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | — | | | | — | | | | — | | | | — | | | | (1,009 | ) | | | (401 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets from shares of beneficial interest | | | 5,611 | | | | 26,847 | | | | 25,331 | | | | 61,872 | | | | (3,112 | ) | | | 4,867 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in net assets | | | 11,265 | | | | 21,304 | | | | 26,662 | | | | 61,824 | | | | 8,889 | | | | (2,362 | ) |
| | | | | | |
Net Assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Beginning of period | | | 205,138 | | | | 183,834 | | | | 79,612 | | | | 17,788 | | | | 384,208 | | | | 386,570 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
End of period | | $ | 216,403 | | | $ | 205,138 | | | $ | 106,274 | | | $ | 79,612 | | | $ | 393,097 | | | $ | 384,208 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Share Transactions: | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | 2,510 | | | | 3,997 | | | | 3,558 | | | | 6,858 | | | | 3,425 | | | | 4,253 | |
Reinvested | | | 523 | | | | 436 | | | | 138 | | | | 35 | | | | 818 | | | | 715 | |
Redeemed | | | (2,447 | ) | | | (1,587 | ) | | | (1,122 | ) | | | (572 | ) | | | (4,453 | ) | | | (4,468 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Strategic Shares | | | 586 | | | | 2,846 | | | | 2,574 | | | | 6,321 | | | | (210 | ) | | | 500 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
HC Advisors Shares(a) | | | | | | | | | | | | | | | | | | | | | | | | |
Issued | | | — | | | | — | | | | — | | | | — | | | | — | | | | 13 | |
Redeemed | | | — | | | | — | | | | — | | | | — | | | | (102 | ) | | | (54 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change in HC Advisors Shares | | | — | | | | — | | | | — | | | | — | | | | (102 | ) | | | (41 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total change in shares | | | 586 | | | | 2,846 | | | | 2,574 | | | | 6,321 | | | | (312 | ) | | | 459 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
291
HC CAPITAL TRUST
Statements of Changes in Net Assets (concluded)
(Amounts in thousands)
| | | | | | | | |
| | | The Intermediate Term
Municipal Bond II Portfolio | |
| | | For the
Year Ended
June 30,
2019 | | | For the
Year Ended
June 30,
2018 | |
Operations: | | | | | | | | |
Net investment income | | $ | 1,674 | | | $ | 1,657 | |
Net realized gains/(losses) from investments | | | 55 | | | | 66 | |
Change in unrealized appreciation/(depreciation) from investments | | | 2,276 | | | | (1,674 | ) |
| | | | | | | | |
Change in net assets resulting from operations | | | 4,005 | | | | 49 | |
| | | | | | | | |
| | |
Distributions to Shareholders from: | | | | | | | | |
HC Strategic Shares | | | (1,774 | ) | | | (1,645 | ) |
HC Advisors Shares(a) | | | (3 | ) | | | (8 | ) |
| | | | | | | | |
Change in net assets resulting from distributions | | | (1,777 | ) | | | (1,653 | ) |
| | | | | | | | |
| | |
HC Strategic Shares | | | | | | | | |
Proceeds from shares issued | | | 7,915 | | | | 10,763 | |
Proceeds from reinvestment of dividends | | | 1,672 | | | | 1,533 | |
Cost of shares redeemed | | | (10,564 | ) | | | (7,407 | ) |
| | | | | | | | |
Change in net assets from HC Strategic Shares of beneficial interest | | | (977 | ) | | | 4,889 | |
| | | | | | | | |
| | |
HC Advisors Shares(a) | | | | | | | | |
Proceeds from shares issued | | | — | | | | 33 | |
Cost of shares redeemed | | | (261 | ) | | | (138 | ) |
| | | | | | | | |
Change in net assets from HC Advisors Shares of beneficial interest | | | (261 | ) | | | (105 | ) |
| | | | | | | | |
Change in net assets from shares of beneficial interest | | | (1,238 | ) | | | 4,784 | |
| | | | | | | | |
Change in net assets | | | 990 | | | | 3,180 | |
| | |
Net Assets: | | | | | | | | |
Beginning of period | | | 77,715 | | | | 74,535 | |
| | | | | | | | |
End of period | | $ | 78,705 | | | $ | 77,715 | |
| | | | | | | | |
| | |
Share Transactions: | | | | | | | | |
HC Strategic Shares | | | | | | | | |
Issued | | | 776 | | | | 1,053 | |
Reinvested | | | 165 | | | | 151 | |
Redeemed | | | (1,038 | ) | | | (729 | ) |
| | | | | | | | |
Change in HC Strategic Shares | | | (97 | ) | | | 475 | |
| | | | | | | | |
| | |
HC Advisors Shares(a) | | | | | | | | |
Issued | | | — | | | | 3 | |
Redeemed | | | (26 | ) | | | (13 | ) |
| | | | | | | | |
Change in HC Advisors Shares | | | (26 | ) | | | (10 | ) |
| | | | | | | | |
Total change in shares | | | (123 | ) | | | 465 | |
| | | | | | | | |
Amounts designated as “—” are $0 or have been rounded to $0.
| (a) | HC Advisors Shares are still offered, but no shares are outstanding as of June 30, 2019. |
See accompanying notes to financial statements.
292
HC CAPITAL TRUST
Financial Highlights
Selected data for a share outstanding throughout the periods indicated.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Change in Net Assets
Resulting From Operations: | | | Distributions to Shareholders: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/ (Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The Value Equity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 19.95 | | | $ | 0.40 | (d)(e) | | $ | 1.34 | (e) | | $ | 1.74 | | | $ | (0.41 | ) | | $ | (1.07 | ) | | $ | (1.48 | ) | | $ | 20.21 | | | | 9.78 | % | | $ | 583,757 | | | | 0.21 | % | | | 0.21 | % | | | 2.05 | % | | | 73.55 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 19.53 | | | | 0.42 | | | | 1.36 | | | | 1.78 | | | | (0.44 | ) | | | (0.92 | ) | | | (1.36 | ) | | | 19.95 | | | | 9.11 | % | | | 599,457 | | | | 0.27 | % | | | 0.26 | % | | | 2.10 | % | | | 58.60 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 17.70 | | | | 0.42 | | | | 2.51 | | | | 2.93 | | | | (0.41 | ) | | | (0.69 | ) | | | (1.10 | ) | | | 19.53 | | | | 16.78 | % | | | 612,508 | | | | 0.29 | % | | | 0.28 | % | | | 2.22 | % | | | 61.30 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 18.46 | | | | 0.41 | | | | (0.02 | ) | | | 0.39 | | | | (0.41 | ) | | | (0.74 | ) | | | (1.15 | ) | | | 17.70 | | | �� | 2.49 | % | | | 583,078 | | | | 0.27 | % | | | 0.26 | % | | | 2.35 | % | | | 66.86 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 17.88 | | | | 0.36 | | | | 0.58 | | | | 0.94 | | | | (0.36 | ) | | | — | | | | (0.36 | ) | | | 18.46 | | | | 5.27 | % | | | 622,022 | | | | 0.29 | % | | | 0.28 | % | | | 1.95 | % | | | 123.19 | % |
| | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 1, 2019(f) | | $ | 19.95 | | | $ | 0.46 | (d)(e) | | $ | 1.26 | (e) | | $ | 1.72 | | | $ | (0.33 | ) | | $ | (1.07 | ) | | $ | (1.40 | ) | | $ | 20.27 | | | | 9.69 | % | | $ | — | | | | 0.46 | % | | | 0.21 | % | | | 2.29 | % | | | 73.55 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 19.52 | | | | 0.43 | | | | 1.36 | | | | 1.79 | | | | (0.44 | ) | | | (0.92 | ) | | | (1.36 | ) | | | 19.95 | | | | 9.17 | % | | | 675 | | | | 0.52 | % | | | 0.26 | % | | | 2.08 | % | | | 58.60 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 17.69 | | | | 0.42 | | | | 2.51 | | | | 2.93 | | | | (0.41 | ) | | | (0.69 | ) | | | (1.10 | ) | | | 19.52 | | | | 16.79 | % | | | 845 | | | | 0.54 | % | | | 0.28 | % | | | 2.22 | % | | | 61.30 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 18.46 | | | | 0.44 | | | | (0.06 | ) | | | 0.38 | | | | (0.41 | ) | | | (0.74 | ) | | | (1.15 | ) | | | 17.69 | | | | 2.43 | % | | | 786 | | | | 0.52 | % | | | 0.26 | % | | | 2.38 | % | | | 66.86 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 17.88 | | | | 0.36 | | | | 0.58 | | | | 0.94 | | | | (0.36 | ) | | | — | | | | (0.36 | ) | | | 18.46 | | | | 5.27 | % | | | 1,163 | | | | 0.54 | % | | | 0.28 | % | | | 1.94 | % | | | 123.19 | % |
| | | | | | | |
The Institutional Value Equity
Portfolio HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 12.95 | | | $ | 0.29 | (d)(e) | | $ | 0.73 | (e) | | $ | 1.02 | | | $ | (0.28 | ) | | $ | (0.90 | ) | | $ | (1.18 | ) | | $ | 12.79 | | | | 9.14 | % | | $ | 1,497,901 | | | | 0.19 | % | | | 0.19 | % | | | 2.26 | % | | | 39.29 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 12.99 | | | | 0.26 | | | | 0.83 | | | | 1.09 | | | | (0.27 | ) | | | (0.86 | ) | | | (1.13 | ) | | | 12.95 | | | | 8.35 | % | | | 928,683 | | | | 0.26 | % | | | 0.25 | % | | | 2.04 | % | | | 68.39 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 11.99 | | | | 0.27 | | | | 1.69 | | | | 1.96 | | | | (0.26 | ) | | | (0.70 | ) | | | (0.96 | ) | | | 12.99 | | | | 16.66 | % | | | 797,147 | | | | 0.29 | % | | | 0.28 | % | | | 2.08 | % | | | 55.25 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 13.49 | | | | 0.27 | | | | (0.05 | ) | | | 0.22 | | | | (0.27 | ) | | | (1.45 | ) | | | (1.72 | ) | | | 11.99 | | | | 2.44 | % | | | 912,029 | | | | 0.26 | % | | | 0.25 | % | | | 2.24 | % | | | 67.08 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 14.79 | | | | 0.27 | | | | 0.44 | | | | 0.71 | | | | (0.28 | ) | | | (1.73 | ) | | | (2.01 | ) | | | 13.49 | | | | 5.05 | % | | | 915,067 | | | | 0.28 | % | | | 0.27 | % | | | 1.95 | % | | | 119.98 | % |
| | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 13, 2019(g) | | $ | 12.96 | | | $ | 0.30 | (d)(e) | | $ | 0.16 | (e) | | $ | 0.46 | | | $ | (0.22 | ) | | $ | (0.90 | ) | | $ | (1.12 | ) | | $ | 12.30 | | | | 4.38 | % | | $ | — | | | | 0.44 | % | | | 0.19 | % | | | 2.36 | % | | | 39.29 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 13.00 | | | | 0.30 | | | | 0.79 | | | | 1.09 | | | | (0.27 | ) | | | (0.86 | ) | | | (1.13 | ) | | | 12.96 | | | | 8.34 | % | | | 738 | | | | 0.51 | % | | | 0.25 | % | | | 1.99 | % | | | 68.39 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 12.00 | | | | 0.27 | | | | 1.69 | | | | 1.96 | | | | (0.26 | ) | | | (0.70 | ) | | | (0.96 | ) | | | 13.00 | | | | 16.65 | % | | | 1,493 | | | | 0.54 | % | | | 0.28 | % | | | 2.13 | % | | | 55.25 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 13.50 | | | | 0.28 | | | | (0.06 | ) | | | 0.22 | | | | (0.27 | ) | | | (1.45 | ) | | | (1.72 | ) | | | 12.00 | | | | 2.44 | % | | | 1,435 | | | | 0.51 | % | | | 0.25 | % | | | 2.25 | % | | | 67.08 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 14.79 | | | | 0.27 | | | | 0.45 | | | | 0.72 | | | | (0.28 | ) | | | (1.73 | ) | | | (2.01 | ) | | | 13.50 | | | | 5.12 | % | | | 1,613 | | | | 0.53 | % | | | 0.27 | % | | | 1.96 | % | | | 119.98 | % |
| (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. |
| (e) | The amounts reported for a share outstanding throughout the period may not correlate to the aggregate amounts for the fiscal period due to the timing of sales and repurchases of Portfolio shares in relation to income earned and/or fluctuating fair value of the investments of the Portfolio. |
| (f) | HC Advisors Shares are still offered, but were fully redeemed on May 1, 2019. |
| (g) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
See accompanying notes to financial statements.
293
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The Growth Equity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 23.54 | | | $ | 0.30 | (d) | | $ | 2.30 | | | $ | 2.60 | | | $ | (0.30 | ) | | $ | (1.32 | ) | | $ | (1.62 | ) | | $ | 24.52 | | | | 12.22 | % | | $ | 802,838 | | | | 0.25 | % | | | 0.25 | % | | | 1.28 | % | | | 41.31 | % |
Year Ended June 30, 2018 | | | 20.90 | | | | 0.22 | | | | 3.70 | | | | 3.92 | | | | (0.22 | ) | | | (1.06 | ) | | | (1.28 | ) | | | 23.54 | | | | 19.12 | % | | | 808,868 | | | | 0.30 | % | | | 0.29 | % | | | 0.96 | % | | | 39.77 | % |
Year Ended June 30, 2017 | | | 18.78 | | | | 0.19 | | | | 3.27 | | | | 3.46 | | | | (0.19 | ) | | | (1.15 | ) | | | (1.34 | ) | | | 20.90 | | | | 19.31 | % | | | 786,563 | | | | 0.31 | % | | | 0.31 | % | | | 0.98 | % | | | 38.28 | % |
Year Ended June 30, 2016 | | | 22.37 | | | | 0.20 | | | | 1.03 | | | | 1.23 | | | | (0.20 | ) | | | (4.62 | ) | | | (4.82 | ) | | | 18.78 | | | | 5.88 | % | | | 763,770 | | | | 0.29 | % | | | 0.29 | % | | | 0.99 | % | | | 38.90 | % |
Year Ended June 30, 2015 | | | 20.51 | | | | 0.19 | | | | 2.10 | | | | 2.29 | | | | (0.19 | ) | | | (0.24 | ) | | | (0.43 | ) | | | 22.37 | | | | 11.27 | % | | | 872,004 | | | | 0.30 | % | | | 0.30 | % | | | 0.88 | % | | | 57.33 | % |
| | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Period Ended May 1, 2019(e) | | $ | 23.50 | | | $ | 0.28 | (d) | | $ | 2.00 | | | $ | 2.28 | | | $ | (0.23 | ) | | $ | (1.32 | ) | | $ | (1.55 | ) | | $ | 24.23 | | | | 10.77 | % | | $ | — | | | | 0.51 | % | | | 0.26 | % | | | 1.19 | % | | | 41.31 | % |
Year Ended June 30, 2018 | | | 20.86 | | | | 0.22 | | | | 3.70 | | | | 3.92 | | | | (0.22 | ) | | | (1.06 | ) | | | (1.28 | ) | | | 23.50 | | | | 19.16 | % | | | 922 | | | | 0.55 | % | | | 0.29 | % | | | 0.94 | % | | | 39.77 | % |
Year Ended June 30, 2017 | | | 18.76 | | | | 0.19 | | | | 3.25 | | | | 3.44 | | | | (0.19 | ) | | | (1.15 | ) | | | (1.34 | ) | | | 20.86 | | | | 19.23 | % | | | 1,118 | | | | 0.56 | % | | | 0.31 | % | | | 0.98 | % | | | 38.28 | % |
Year Ended June 30, 2016 | | | 22.35 | | | | 0.22 | | | | 1.01 | | | | 1.23 | | | | (0.20 | ) | | | (4.62 | ) | | | (4.82 | ) | | | 18.76 | | | | 5.89 | % | | | 1,085 | | | | 0.54 | % | | | 0.29 | % | | | 1.00 | % | | | 38.90 | % |
Year Ended June 30, 2015 | | | 20.48 | | | | 0.19 | | | | 2.11 | | | | 2.30 | | | | (0.19 | ) | | | (0.24 | ) | | | (0.43 | ) | | | 22.35 | | | | 11.34 | % | | | 1,623 | | | | 0.55 | % | | | 0.30 | % | | | 0.88 | % | | | 57.33 | % |
| | | | | | | |
The Institutional Growth Equity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 18.25 | | | $ | 0.24 | (d)(f) | | $ | 1.59 | (f) | | $ | 1.83 | | | $ | (0.24 | ) | | $ | (1.31 | ) | | $ | (1.55 | ) | | $ | 18.53 | | | | 11.46 | % | | $ | 1,535,959 | | | | 0.23 | % | | | 0.23 | % | | | 1.31 | % | | | 69.93 | % |
Year Ended June 30, 2018 | | | 16.10 | | | | 0.18 | | | | 2.82 | | | | 3.00 | | | | (0.18 | ) | | | (0.67 | ) | | | (0.85 | ) | | | 18.25 | | | | 18.97 | % | | | 1,187,715 | | | | 0.28 | % | | | 0.28 | % | | | 1.04 | % | | | 43.36 | % |
Year Ended June 30, 2017 | | | 14.80 | | | | 0.17 | | | | 2.48 | | | | 2.65 | | | | (0.17 | ) | | | (1.18 | ) | | | (1.35 | ) | | | 16.10 | | | | 19.03 | % | | | 1,034,294 | | | | 0.29 | % | | | 0.29 | % | | | 1.06 | % | | | 21.93 | % |
Year Ended June 30, 2016 | | | 17.14 | | | | 0.16 | | | | 0.85 | | | | 1.01 | | | | (0.16 | ) | | | (3.19 | ) | | | (3.35 | ) | | | 14.80 | | | | 6.36 | % | | | 1,282,473 | | | | 0.27 | % | | | 0.27 | % | | | 1.05 | % | | | 37.43 | % |
Year Ended June 30, 2015 | | | 16.59 | | | | 0.16 | | | | 1.63 | | | | 1.79 | | | | (0.15 | ) | | | (1.09 | ) | | | (1.24 | ) | | | 17.14 | | | | 11.14 | % | | | 1,317,132 | | | | 0.29 | % | | | 0.28 | % | | | 0.93 | % | | | 96.81 | % |
| | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Period Ended May 13, 2019(g) | | $ | 18.25 | | | $ | 0.25 | (d)(f) | | $ | 0.72 | (f) | | $ | 0.97 | | | $ | (0.19 | ) | | $ | (1.31 | ) | | $ | (1.50 | ) | | $ | 17.72 | | | | 6.27 | % | | $ | — | | | | 0.48 | % | | | 0.23 | % | | | 1.36 | % | | | 69.93 | % |
Year Ended June 30, 2018 | | | 16.10 | | | | 0.20 | | | | 2.80 | | | | 3.00 | | | | (0.18 | ) | | | (0.67 | ) | | | (0.85 | ) | | | 18.25 | | | | 18.97 | % | | | 1,026 | | | | 0.53 | % | | | 0.28 | % | | | 1.00 | % | | | 43.36 | % |
Year Ended June 30, 2017 | | | 14.80 | | | | 0.17 | | | | 2.48 | | | | 2.65 | | | | (0.17 | ) | | | (1.18 | ) | | | (1.35 | ) | | | 16.10 | | | | 19.03 | % | | | 2,008 | | | | 0.54 | % | | | 0.29 | % | | | 1.08 | % | | | 21.93 | % |
Year Ended June 30, 2016 | | | 17.15 | | | | 0.17 | | | | 0.83 | | | | 1.00 | | | | (0.16 | ) | | | (3.19 | ) | | | (3.35 | ) | | | 14.80 | | | | 6.30 | % | | | 1,931 | | | | 0.52 | % | | | 0.27 | % | | | 1.05 | % | | | 37.43 | % |
Year Ended June 30, 2015 | | | 16.59 | | | | 0.16 | | | | 1.64 | | | | 1.80 | | | | (0.15 | ) | | | (1.09 | ) | | | (1.24 | ) | | | 17.15 | | | | 11.20 | % | | | 2,187 | | | | 0.54 | % | | | 0.28 | % | | | 0.93 | % | | | 96.81 | % |
| (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. |
| (e) | HC Advisors Shares are still offered, but were fully redeemed on May 1, 2019. |
| (f) | The amounts reported for a share outstanding throughout the period may not correlate to the aggregate amounts for the fiscal period due to the timing of sales and repurchases of Portfolio shares in relation to income earned and/or fluctuating fair value of the investments of the Portfolio. |
| (g) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
See accompanying notes to financial statements.
294
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Tax
Return of
Capital | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The SmallCapitalization-Mid Capitalization Equity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 29.52 | | | $ | 0.10 | (d) | | $ | (0.77 | ) | | $ | (0.67 | ) | | $ | (0.13 | ) | | $ | (2.47 | ) | | $ | — | | | $ | (2.60 | ) | | $ | 26.25 | | | | (0.81 | )% | | $ | 95,614 | | | | 0.68 | % | | | 0.67 | % | | | 0.36 | % | | | 79.39 | % |
Year Ended June 30, 2018 | | | 25.23 | | | | 0.10 | | | | 4.29 | | | | 4.39 | | | | (0.10 | ) | | | — | | | | — | | | | (0.10 | ) | | | 29.52 | | | | 17.42 | % | | | 110,489 | | | | 0.77 | % | | | 0.76 | % | | | 0.37 | % | | | 61.65 | % |
Year Ended June 30, 2017 | | | 21.04 | | | | 0.02 | | | | 4.20 | | | | 4.22 | | | | (0.03 | ) | | | — | | | | — | | | | (0.03 | ) | | | 25.23 | | | | 20.07 | % | | | 107,395 | | | | 0.83 | % | | | 0.82 | % | | | 0.09 | % | | | 48.52 | % |
Year Ended June 30, 2016 | | | 22.68 | | | | 0.02 | | | | (1.65 | ) | | | (1.63 | ) | | | (0.01 | ) | | | — | | | | — | (e) | | | (0.01 | ) | | | 21.04 | | | | (7.17 | )% | | | 98,325 | | | | 0.79 | % | | | 0.76 | % | | | 0.09 | % | | | 48.89 | % |
Year Ended June 30, 2015 | | | 21.22 | | | | (0.01 | ) | | | 1.48 | | | | 1.47 | | | | (0.01 | ) | | | — | | | | — | | | | (0.01 | ) | | | 22.68 | | | | 6.91 | % | | | 114,754 | | | | 0.83 | % | | | 0.82 | % | | | (0.06 | )% | | | 67.34 | % |
| | | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Period Ended May 1, 2019(f) | | $ | 29.49 | | | $ | 0.08 | (d) | | $ | (0.97 | ) | | $ | (0.89 | ) | | $ | (0.10 | ) | | $ | (2.47 | ) | | $ | — | | | $ | (2.57 | ) | | $ | 26.03 | | | | (1.62 | )% | | $ | — | | | | 0.93 | % | | | 0.66 | % | | | 0.27 | % | | | 79.39 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 25.21 | | | | 0.10 | | | | 4.28 | | | | 4.38 | | | | (0.10 | ) | | | — | | | | — | | | | (0.10 | ) | | | 29.49 | | | | 17.40 | % | | | 121 | | | | 1.02 | % | | | 0.76 | % | | | 0.36 | % | | | 61.65 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 21.02 | | | | 0.02 | | | | 4.20 | | | | 4.22 | | | | (0.03 | ) | | | — | | | | — | | | | (0.03 | ) | | | 25.21 | | | | 20.09 | % | | | 141 | | | | 1.08 | % | | | 0.82 | % | | | 0.09 | % | | | 48.52 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 22.66 | | | | 0.01 | | | | (1.64 | ) | | | (1.63 | ) | | | (0.01 | ) | | | — | | | | — | (e) | | | (0.01 | ) | | | 21.02 | | | | (7.18 | )% | | | 131 | | | | 1.04 | % | | | 0.76 | % | | | 0.08 | % | | | 48.89 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 21.20 | | | | (0.01 | ) | | | 1.48 | | | | 1.47 | | | | (0.01 | ) | | | — | | | | — | | | | (0.01 | ) | | | 22.66 | | | | 6.92 | % | | | 195 | | | | 1.08 | % | | | 0.82 | % | | | (0.06 | )% | | | 67.34 | % |
| | | | | |
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 18.39 | | | $ | 0.08 | (d) | | $ | (0.54 | ) | | $ | (0.46 | ) | | $ | (0.08 | ) | | $ | (3.77 | ) | | $ | — | | | $ | (3.85 | ) | | $ | 14.08 | | | | 1.22 | % | | $ | 147,415 | | | | 0.56 | % | | | 0.56 | % | | | 0.49 | % | | | 52.75 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 17.08 | | | | 0.08 | | | | 2.88 | | | | 2.96 | | | | (0.08 | ) | | | (1.57 | ) | | | — | | | | (1.65 | ) | | | 18.39 | | | | 18.11 | % | | | 159,774 | | | | 0.70 | % | | | 0.70 | % | | | 0.49 | % | | | 95.15 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 14.57 | | | | 0.02 | | | | 2.81 | | | | 2.83 | | | | (0.03 | ) | | | (0.29 | ) | | | — | | | | (0.32 | ) | | | 17.08 | | | | 19.50 | % | | | 143,995 | | | | 0.75 | % | | | 0.75 | % | | | 0.14 | % | | | 47.63 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 16.61 | | | | 0.03 | | | | (1.15 | ) | | | (1.12 | ) | | | — | | | | (0.90 | ) | | | (0.02 | ) | | | (0.92 | ) | | | 14.57 | | | | (6.69 | )% | | | 192,253 | | | | 0.72 | % | | | 0.69 | % | | | 0.17 | % | | | 52.38 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 17.19 | | | | 0.01 | | | | 1.14 | | | | 1.15 | | | | (0.01 | ) | | | (1.72 | ) | | | — | | | | (1.73 | ) | | | 16.61 | | | | 7.43 | % | | | 200,423 | | | | 0.81 | % | | | 0.80 | % | | | 0.03 | % | | | 83.94 | % |
| | | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Period Ended May 13, 2019(g) | | $ | 18.39 | | | $ | 0.06 | (d) | | $ | (1.12 | ) | | $ | (1.06 | ) | | $ | (0.07 | ) | | $ | (3.77 | ) | | $ | — | | | $ | (3.84 | ) | | $ | 13.49 | | | | (3.12 | )% | | $ | — | | | | 0.81 | % | | | 0.56 | % | | | 0.37 | % | | | 52.75 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 17.07 | | | | 0.10 | | | | 2.87 | | | | 2.97 | | | | (0.08 | ) | | | (1.57 | ) | | | — | | | | (1.65 | ) | | | 18.39 | | | | 18.18 | % | | | 132 | | | | 0.95 | % | | | 0.70 | % | | | 0.50 | % | | | 95.15 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 14.57 | | | | 0.03 | | | | 2.79 | | | | 2.82 | | | | (0.03 | ) | | | (0.29 | ) | | | — | | | | (0.32 | ) | | | 17.07 | | | | 19.43 | % | | | 248 | | | | 1.00 | % | | | 0.75 | % | | | 0.16 | % | | | 47.63 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 16.61 | | | | 0.03 | | | | (1.15 | ) | | | (1.12 | ) | | | — | | | | (0.90 | ) | | | (0.02 | ) | | | (0.92 | ) | | | 14.57 | | | | (6.69 | )% | | | 235 | | | | 0.97 | % | | | 0.69 | % | | | 0.16 | % | | | 52.38 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 17.19 | | | | 0.01 | | | | 1.14 | | | | 1.15 | | | | (0.01 | ) | | | (1.72 | ) | | | — | | | | (1.73 | ) | | | 16.61 | | | | 7.43 | % | | | 265 | | | | 1.06 | % | | | 0.80 | % | | | 0.03 | % | | | 83.94 | % |
| | | | | | | | | | | | | | | |
The Real Estate Securities Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 2.99 | | | $ | 0.06 | (d) | | $ | 0.30 | | | $ | 0.36 | | | $ | (0.06 | ) | | $ | (0.03 | ) | | $ | — | | | $ | (0.09 | ) | | $ | 3.26 | | | | 12.54 | % | | $ | 120,069 | | | | 0.77 | % | | | 0.77 | % | | | 1.89 | % | | | 48.08 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 3.03 | | | | 0.05 | | | | 0.05 | | | | 0.10 | | | | (0.05 | ) | | | (0.09 | ) | | | — | | | | (0.14 | ) | | | 2.99 | | | | 3.20 | % | | | 131,601 | | | | 0.74 | % | | | 0.74 | % | | | 1.76 | % | | | 49.59 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 3.39 | | | | 0.04 | | | | (0.05 | ) | | | (0.01 | ) | | | (0.04 | ) | | | (0.31 | ) | | | — | | | | (0.35 | ) | | | 3.03 | | | | 0.44 | % | | | 123,794 | | | | 0.77 | % | | | 0.77 | % | | | 1.19 | % | | | 58.32 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 3.24 | | | | 0.05 | | | | 0.52 | | | | 0.57 | | | | (0.04 | ) | | | (0.38 | ) | | | — | | | | (0.42 | ) | | | 3.39 | | | | 18.81 | % | | | 151,512 | | | | 0.77 | % | | | 0.77 | % | | | 1.44 | % | | | 51.03 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 3.20 | | | | 0.04 | | | | 0.21 | | | | 0.25 | | | | (0.05 | ) | | | (0.16 | ) | | | — | | | | (0.21 | ) | | | 3.24 | | | | 7.44 | % | | | 132,758 | | | | 0.79 | % | | | 0.79 | % | | | 1.22 | % | | | 60.49 | % |
| (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. |
| (e) | Amounts round to less than $0.005 per share. |
| (f) | HC Advisors Shares are still offered, but were fully redeemed on May 1, 2019. |
| (g) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
See accompanying notes to financial statements.
295
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/ (Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The Commodity Returns Strategy Portfolio(d) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.76 | | | $ | 0.24 | (e) | | $ | (0.61 | ) | | $ | (0.37 | ) | | $ | (0.30 | ) | | $ | — | | | $ | (0.30 | ) | | $ | 9.09 | | | | (3.73 | )% | | $ | 159,469 | | | | 0.36 | % | | | 0.32 | % | | | 2.62 | % | | | 14.57 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 8.48 | | | | 0.23 | | | | 1.34 | | | | 1.57 | | | | (0.29 | ) | | | — | | | | (0.29 | ) | | | 9.76 | | | | 18.61 | % | | | 861,431 | | | | 0.40 | % | | | 0.35 | % | | | 2.46 | % | | | 28.82 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 7.87 | | | | 0.18 | | | | 0.60 | | | | 0.78 | | | | (0.17 | ) | | | — | | | | (0.17 | ) | | | 8.48 | | | | 9.87 | % | | | 764,818 | | | | 0.42 | % | | | 0.42 | % | | | 1.99 | % | | | 56.34 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 8.80 | | | | 0.14 | | | | (0.94 | ) | | | (0.80 | ) | | | (0.13 | ) | | | — | | | | (0.13 | ) | | | 7.87 | | | | (9.01 | )% | | | 1,111,071 | | | | 0.44 | % | | | 0.44 | % | | | 1.89 | % | | | 130.01 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 11.64 | | | | 0.13 | | | | (2.79 | ) | | | (2.66 | ) | | | (0.14 | ) | | | (0.04 | ) | | | (0.18 | ) | | | 8.80 | | | | (22.91 | )% | | | 1,193,003 | | | | 0.63 | % | | | 0.63 | % | | | 1.40 | % | | | 63.29 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 13, 2019(f) | | $ | 9.76 | | | $ | 0.23 | (e) | | $ | (1.09 | ) | | $ | (0.86 | ) | | $ | (0.22 | ) | | $ | — | | | $ | (0.22 | ) | | $ | 8.68 | | | | (8.84 | )% | | $ | — | | | | 0.62 | % | | | 0.32 | % | | | 2.48 | % | | | 14.57 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 8.48 | | | | 0.20 | | | | 1.37 | | | | 1.57 | | | | (0.29 | ) | | | — | | | | (0.29 | ) | | | 9.76 | | | | 18.61 | % | | | 698 | | | | 0.65 | % | | | 0.35 | % | | | 2.38 | % | | | 28.82 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 7.86 | | | | 0.17 | | | | 0.62 | | | | 0.79 | | | | (0.17 | ) | | | — | | | | (0.17 | ) | | | 8.48 | | | | 10.01 | % | | | 1,068 | | | | 0.67 | % | | | 0.42 | % | | | 1.99 | % | | | 56.34 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 8.80 | | | | 0.14 | | | | (0.95 | ) | | | (0.81 | ) | | | (0.13 | ) | | | — | | | | (0.13 | ) | | | 7.86 | | | | (9.12 | )% | | | 1,351 | | | | 0.69 | % | | | 0.44 | % | | | 1.86 | % | | | 130.01 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 11.63 | | | | 0.13 | | | | (2.78 | ) | | | (2.65 | ) | | | (0.14 | ) | | | (0.04 | ) | | | (0.18 | ) | | | 8.80 | | | | (22.84 | )% | | | 1,635 | | | | 0.88 | % | | | 0.63 | % | | | 1.37 | % | | | 63.29 | % |
| | | | | | | | | | | | | | |
The ESG Growth Portfolio HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 11.42 | | | $ | 0.28 | (e) | | $ | (0.10 | ) | | $ | 0.18 | | | $ | (0.30 | ) | | $ | (0.38 | ) | | $ | (0.68 | ) | | $ | 10.92 | | | | 2.06 | % | | $ | 148,978 | | | | 0.34 | % | | | 0.34 | % | | | 2.52 | % | | | 171.95 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.65 | | | | 0.30 | | | | 0.78 | | | | 1.08 | | | | (0.31 | ) | | | — | | | | (0.31 | ) | | | 11.42 | | | | 10.16 | % | | | 166,523 | | | | 0.29 | % | | | 0.29 | % | | | 2.69 | % | | | 15.54 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.34 | | | | 0.27 | | | | 1.32 | | | | 1.59 | | | | (0.28 | ) | | | — | | | | (0.28 | ) | | | 10.65 | | | | 17.19 | % | | | 148,643 | | | | 0.35 | % | | | 0.34 | % | | | 2.70 | % | | | 25.45 | % |
| | | | | | | | | | | | | | |
Period Ended June 30, 2016(g) | | | 10.00 | | | | 0.24 | | | | (0.65 | ) | | | (0.41 | ) | | | (0.23 | ) | | | (0.02 | ) | | | (0.25 | ) | | | 9.34 | | | | (4.16 | )% | | | 121,325 | | | | 0.42 | % | | | 0.42 | % | | | 2.76 | % | | | 35.90 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended June 14, 2019(h) | | $ | 11.41 | | | $ | 0.28 | (e) | | $ | (0.29 | ) | | $ | (0.01 | ) | | $ | (0.21 | ) | | $ | (0.38 | ) | | $ | (0.59 | ) | | $ | 10.81 | | | | 0.32 | % | | $ | — | | | | 0.60 | % | | | 0.35 | % | | | 2.56 | % | | | 171.95 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.64 | | | | 0.30 | | | | 0.78 | | | | 1.08 | | | | (0.31 | ) | | | — | | | | (0.31 | ) | | | 11.41 | | | | 10.17 | % | | | 1 | | | | 0.54 | % | | | 0.29 | % | | | 2.67 | % | | | 15.54 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.34 | | | | 0.27 | | | | 1.31 | | | | 1.58 | | | | (0.28 | ) | | | — | | | | (0.28 | ) | | | 10.64 | | | | 17.08 | % | | | 1 | | | | 0.60 | % | | | 0.34 | % | | | 2.67 | % | | | 25.45 | % |
| | | | | | | | | | | | | | |
Period Ended June 30, 2016(g) | | | 10.00 | | | | 0.24 | | | | (0.65 | ) | | | (0.41 | ) | | | (0.23 | ) | | | (0.02 | ) | | | (0.25 | ) | | | 9.34 | | | | (4.16 | )% | | | 1 | | | | 0.67 | % | | | 0.42 | % | | | 2.76 | % | | | 35.90 | % |
| (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.N. in the Notes to Financial Statements for basis of consolidation. |
| (e) | Per share amounts are based on average shares outstanding. |
| (f) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
| (g) | For the period July 14, 2015 (commencement of operations) through June 30, 2016. |
| (h) | HC Advisors Shares are still offered, but were fully redeemed on June 14, 2019. |
See accompanying notes to financial statements.
296
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
| | | | | | | | | | | | | | |
The Catholic SRI Growth Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 12.71 | | | $ | 0.31 | (d) | | $ | (0.14 | ) | | $ | 0.17 | | | $ | (0.31 | ) | | $ | (0.73 | ) | | $ | (1.04 | ) | | $ | 11.84 | | | | 2.16 | % | | $ | 51,401 | | | | 0.41 | % | | | 0.31 | % | | | 2.60 | % | | | 179.66 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 12.02 | | | | 0.34 | | | | 1.00 | | | | 1.34 | | | | (0.34 | ) | | | (0.31 | ) | | | (0.65 | ) | | | 12.71 | | | | 11.23 | % | | | 29,413 | | | | 0.37 | % | | | 0.31 | % | | | 2.65 | % | | | 17.01 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.75 | | | | 0.31 | | | | 1.58 | | | | 1.89 | | | | (0.35 | ) | | | (0.27 | ) | | | (0.62 | ) | | | 12.02 | | | | 18.02 | % | | | 27,992 | | | | 0.57 | % | | | 0.31 | % | | | 2.85 | % | | | 27.41 | % |
| | | | | | | | | | | | | | |
Period Ended June 30, 2016(e) | | | 10.00 | | | | 0.19 | | | | 0.74 | | | | 0.93 | | | | (0.18 | ) | | | — | | | | (0.18 | ) | | | 10.75 | | | | 8.81 | % | | | 20,324 | | | | 0.84 | % | | | 0.31 | % | | | 3.88 | % | | | 25.63 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended June 14, 2019(f) | | $ | 12.72 | | | $ | 0.31 | (d) | | $ | (0.39 | ) | | $ | (0.08 | ) | | $ | (0.20 | ) | | $ | (0.73 | ) | | $ | (0.93 | ) | | $ | 11.71 | | | | 0.07 | % | | $ | — | | | | 0.66 | % | | | 0.31 | % | | | 2.60 | % | | | 179.66 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 12.03 | | | | 0.35 | | | | 0.99 | | | | 1.34 | | | | (0.34 | ) | | | (0.31 | ) | | | (0.65 | ) | | | 12.72 | | | | 11.22 | % | | | 1 | | | | 0.62 | % | | | 0.31 | % | | | 2.72 | % | | | 17.01 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.76 | | | | 0.32 | | | | 1.57 | | | | 1.89 | | | | (0.35 | ) | | | (0.27 | ) | | | (0.62 | ) | | | 12.03 | | | | 18.00 | % | | | 1 | | | | 0.82 | % | | | 0.31 | % | | | 2.77 | % | | | 27.41 | % |
| | | | | | | | | | | | | | |
Period Ended June 30, 2016(e) | | | 10.00 | | | | 0.19 | | | | 0.75 | | | | 0.94 | | | | (0.18 | ) | | | — | | | | (0.18 | ) | | | 10.76 | | | | 8.91 | % | | | 1 | | | | 1.09 | % | | | 0.31 | % | | | 3.88 | % | | | 25.63 | % |
| | | | | | | | | | | | | | |
The International Equity Portfolio
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 10.74 | | | $ | 0.34 | (d) | | $ | (0.32 | ) | | $ | 0.02 | | | $ | (0.39 | ) | | $ | — | | | $ | (0.39 | ) | | $ | 10.37 | | | | 0.24 | % | | $ | 911,059 | | | | 0.47 | % | | | 0.47 | % | | | 3.28 | % | | | 54.91 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.48 | | | | 0.33 | | | | 0.26 | | | | 0.59 | | | | (0.33 | ) | | | — | | | | (0.33 | ) | | | 10.74 | | | | 5.60 | % | | | 1,213,191 | | | | 0.44 | % | | | 0.44 | % | | | 2.88 | % | | | 29.94 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.00 | | | | 0.29 | | | | 1.49 | | | | 1.78 | | | | (0.30 | ) | | | — | | | | (0.30 | ) | | | 10.48 | | | | 19.75 | % | | | 1,234,134 | | | | 0.43 | % | | | 0.42 | % | | | 2.74 | % | | | 52.75 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 11.18 | | | | 0.28 | | | | (1.40 | ) | | | (1.12 | ) | | | (0.27 | ) | | | (0.79 | ) | | | (1.06 | ) | | | 9.00 | | | | (10.15 | )% | | | 1,165,041 | | | | 0.38 | % | | | 0.37 | % | | | 2.75 | % | | | 42.41 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 13.56 | | | | 0.30 | | | | (0.96 | ) | | | (0.66 | ) | | | (0.34 | ) | | | (1.38 | ) | | | (1.72 | ) | | | 11.18 | | | | (4.50 | )% | | | 1,522,384 | | | | 0.38 | % | | | 0.38 | % | | | 2.61 | % | | | 48.85 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 1, 2019(g) | | $ | 10.75 | | | $ | 0.20 | (d) | | $ | (0.17 | ) | | $ | 0.03 | | | $ | (0.03 | ) | | $ | — | | | $ | (0.03 | ) | | $ | 10.75 | | | | 0.31 | % | | $ | — | | | | 0.72 | % | | | 0.46 | % | | | 1.95 | % | | | 54.91 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.49 | | | | 0.38 | | | | 0.21 | | | | 0.59 | | | | (0.33 | ) | | | — | | | | (0.33 | ) | | | 10.75 | | | | 5.60 | % | | | 1,661 | | | | 0.69 | % | | | 0.44 | % | | | 2.77 | % | | | 29.94 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.00 | | | | 0.28 | | | | 1.51 | | | | 1.79 | | | | (0.30 | ) | | | — | | | | (0.30 | ) | | | 10.49 | | | | 19.87 | % | | | 2,222 | | | | 0.68 | % | | | 0.42 | % | | | 2.79 | % | | | 52.75 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 11.18 | | | | 0.28 | | | | (1.40 | ) | | | (1.12 | ) | | | (0.27 | ) | | | (0.79 | ) | | | (1.06 | ) | | | 9.00 | | | | (10.16 | )% | | | 1,986 | | | | 0.63 | % | | | 0.37 | % | | | 2.64 | % | | | 42.41 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 13.56 | | | | 0.30 | | | | (0.96 | ) | | | (0.66 | ) | | | (0.34 | ) | | | (1.38 | ) | | | (1.72 | ) | | | 11.18 | | | | (4.50 | )% | | | 3,032 | | | | 0.63 | % | | | 0.38 | % | | | 2.59 | % | | | 48.85 | % |
| | | | | | | | | | | |
The Institutional International Equity Portfolio
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 10.57 | | | $ | 0.34 | (d) | | $ | (0.40 | ) | | $ | (0.06 | ) | | $ | (0.42 | ) | | $ | (0.39 | ) | | $ | (0.81 | ) | | $ | 9.70 | | | | 0.09 | % | | $ | 1,886,176 | | | | 0.42 | % | | | 0.42 | % | | | 3.46 | % | | | 37.56 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.38 | | | | 0.35 | | | | 0.26 | | | | 0.61 | | | | (0.40 | ) | | | (0.02 | ) | | | (0.42 | ) | | | 10.57 | | | | 5.77 | % | | | 2,332,353 | | | | 0.40 | % | | | 0.40 | % | | | 3.11 | % | | | 40.38 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 8.87 | | | | 0.28 | | | | 1.52 | | | | 1.80 | | | | (0.29 | ) | | | — | | | | (0.29 | ) | | | 10.38 | | | | 20.38 | % | | | 2,452,608 | | | | 0.40 | % | | | 0.40 | % | | | 2.83 | % | | | 52.79 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.58 | | | | 0.28 | | | | (1.28 | ) | | | (1.00 | ) | | | (0.27 | ) | | | (0.44 | ) | | | (0.71 | ) | | | 8.87 | | | | (9.54 | )% | | | 2,586,742 | | | | 0.36 | % | | | 0.36 | % | | | 3.00 | % | | | 43.96 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 12.58 | | | | 0.29 | | | | (0.89 | ) | | | (0.60 | ) | | | (0.32 | ) | | | (1.08 | ) | | | (1.40 | ) | | | 10.58 | | | | (4.38 | )% | | | 2,869,985 | | | | 0.36 | % | | | 0.36 | % | | | 2.69 | % | | | 52.55 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 13, 2019(h) | | $ | 10.56 | | | $ | 0.22 | (d) | | $ | (0.69 | ) | | $ | (0.47 | ) | | $ | (0.15 | ) | | $ | (0.39 | ) | | $ | (0.54 | ) | | $ | 9.55 | | | | (4.06 | )% | | $ | — | | | | 0.67 | % | | | 0.42 | % | | | 2.14 | % | | | 37.56 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.37 | | | | 0.30 | | | | 0.31 | | | | 0.61 | | | | (0.40 | ) | | | (0.02 | ) | | | (0.42 | ) | | | 10.56 | | | | 5.78 | % | | | 1,868 | | | | 0.65 | % | | | 0.40 | % | | | 2.78 | % | | | 40.38 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 8.86 | | | | 0.28 | | | | 1.52 | | | | 1.80 | | | | (0.29 | ) | | | — | | | | (0.29 | ) | | | 10.37 | | | | 20.40 | % | | | 3,979 | | | | 0.65 | % | | | 0.40 | % | | | 2.84 | % | | | 52.79 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.57 | | | | 0.28 | | | | (1.28 | ) | | | (1.00 | ) | | | (0.27 | ) | | | (0.44 | ) | | | (0.71 | ) | | | 8.86 | | | | (9.56 | )% | | | 3,554 | | | | 0.61 | % | | | 0.36 | % | | | 2.98 | % | | | 43.96 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 12.57 | | | | 0.30 | | | | (0.90 | ) | | | (0.60 | ) | | | (0.32 | ) | | | (1.08 | ) | | | (1.40 | ) | | | 10.57 | | | | (4.38 | )% | | | 4,108 | | | | 0.61 | % | | | 0.36 | % | | | 2.81 | % | | | 52.55 | % |
| (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. |
| (e) | For the period January 12, 2016 (commencement of operations) through June 30, 2016. |
| (f) | HC Advisors Shares are still offered, but were fully redeemed on June 14, 2019. |
| (g) | HC Advisors Shares are still offered, but were fully redeemed on May 1, 2019. |
| (h) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
See accompanying notes to financial statements.
297
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss)
to Average
Net Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The Emerging Markets Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 17.78 | | | $ | 0.39 | (d) | | $ | 0.30 | | | $ | 0.69 | | | $ | (0.33 | ) | | $ | — | | | $ | (0.33 | ) | | $ | 18.14 | | | | 4.11 | % | | $ | 1,466,128 | | | | 0.58 | % | | | 0.58 | % | | | 2.24 | % | | | 50.01 | % |
Year Ended June 30, 2018 | | | 17.92 | | | | 0.40 | (d) | | | (0.13 | ) | | | 0.27 | | | | (0.41 | ) | | | — | | | | (0.41 | ) | | | 17.78 | | | | 1.34 | % | | | 1,631,863 | | | | 0.67 | % | | | 0.67 | % | | | 2.09 | % | | | 54.90 | % |
Year Ended June 30, 2017 | | | 15.15 | | | | 0.35 | | | | 2.84 | | | | 3.19 | | | | (0.42 | ) | | | — | | | | (0.42 | ) | | | 17.92 | | | | 21.51 | % | | | 1,775,379 | | | | 0.59 | % | | | 0.59 | % | | | 2.04 | % | | | 60.79 | % |
Year Ended June 30, 2016 | | | 17.58 | | | | 0.37 | | | | (2.44 | ) | | | (2.07 | ) | | | (0.36 | ) | | | — | | | | (0.36 | ) | | | 15.15 | | | | (11.66 | )% | | | 1,833,571 | | | | 0.57 | % | | | 0.57 | % | | | 2.82 | % | | | 40.02 | % |
Year Ended June 30, 2015 | | | 20.01 | | | | 0.40 | | | | (2.11 | ) | | | (1.71 | ) | | | (0.41 | ) | | | (0.31 | ) | | | (0.72 | ) | | | 17.58 | | | | (8.48 | )% | | | 1,893,047 | | | | 0.59 | % | | | 0.59 | % | | | 2.32 | % | | | 85.72 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Period Ended May 13, 2019(e) | | $ | 17.78 | | | $ | 0.38 | (d) | | $ | (0.58 | ) | | $ | (0.20 | ) | | $ | (0.33 | ) | | $ | — | | | $ | (0.33 | ) | | $ | 17.25 | | | | (0.99 | )% | | $ | — | | | | 0.84 | % | | | 0.59 | % | | | 2.19 | % | | | 50.01 | % |
Year Ended June 30, 2018 | | | 17.92 | | | | 0.38 | (d) | | | (0.11 | ) | | | 0.27 | | | | (0.41 | ) | | | — | | | | (0.41 | ) | | | 17.78 | | | | 1.34 | % | | | 1,451 | | | | 0.92 | % | | | 0.67 | % | | | 1.97 | % | | | 54.90 | % |
Year Ended June 30, 2017 | | | 15.15 | | | | 0.35 | | | | 2.84 | | | | 3.19 | | | | (0.42 | ) | | | — | | | | (0.42 | ) | | | 17.92 | | | | 21.51 | % | | | 2,633 | | | | 0.84 | % | | | 0.59 | % | | | 2.04 | % | | | 60.79 | % |
Year Ended June 30, 2016 | | | 17.57 | | | | 0.39 | | | | (2.45 | ) | | | (2.06 | ) | | | (0.36 | ) | | | — | | | | (0.36 | ) | | | 15.15 | | | | (11.61 | )% | | | 2,349 | | | | 0.82 | % | | | 0.57 | % | | | 2.69 | % | | | 40.02 | % |
Year Ended June 30, 2015 | | | 20.00 | | | | 0.42 | | | | (2.13 | ) | | | (1.71 | ) | | | (0.41 | ) | | | (0.31 | ) | | | (0.72 | ) | | | 17.57 | | | | (8.49 | )% | | | 3,017 | | | | 0.84 | % | | | 0.59 | % | | | 2.34 | % | | | 85.72 | % |
| | | | | | | | | | | | | | |
The Core Fixed Income Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.49 | | | $ | 0.25 | (d) | | $ | 0.51 | | | $ | 0.76 | | | $ | (0.27 | ) | | $ | — | | | $ | (0.27 | ) | | $ | 9.98 | | | | 8.12 | % | | $ | 68,267 | | | | 0.35 | % | | | 0.35 | % | | | 2.63 | % | | | 34.05 | %(f) |
Year Ended June 30, 2018 | | | 9.80 | | | | 0.22 | | | | (0.30 | ) | | | (0.08 | ) | | | (0.23 | ) | | | — | | | | (0.23 | ) | | | 9.49 | | | | (0.85 | )% | | | 65,387 | | | | 0.33 | % | | | 0.33 | % | | | 2.26 | % | | | 43.79 | %(f) |
Year Ended June 30, 2017 | | | 10.01 | | | | 0.19 | | | | (0.18 | ) | | | 0.01 | | | | (0.22 | ) | | | — | | | | (0.22 | ) | | | 9.80 | | | | 0.07 | % | | | 85,653 | | | | 0.33 | % | | | 0.33 | % | | | 1.97 | % | | | 45.74 | %(f) |
Year Ended June 30, 2016 | | | 9.78 | | | | 0.21 | | | | 0.35 | | | | 0.56 | | | | (0.24 | ) | | | (0.09 | ) | | | (0.33 | ) | | | 10.01 | | | | 5.87 | % | | | 86,767 | | | | 0.27 | % | | | 0.27 | % | | | 2.11 | % | | | 58.47 | %(f) |
Year Ended June 30, 2015 | | | 9.89 | | | | 0.19 | | | | (0.07 | ) | | | 0.12 | | | | (0.22 | ) | | | (0.01 | ) | | | (0.23 | ) | | | 9.78 | | | | 1.16 | % | | | 96,952 | | | | 0.27 | % | | | 0.27 | % | | | 1.90 | % | | | 89.60 | %(f) |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Period Ended May 13, 2019(e) | | $ | 9.49 | | | $ | 0.25 | (d) | | $ | 0.23 | | | $ | 0.48 | | | $ | (0.22 | ) | | $ | — | | | $ | (0.22 | ) | | $ | 9.75 | | | | 5.14 | % | | $ | — | | | | 0.60 | % | | | 0.35 | % | | | 2.63 | % | | | 34.05 | %(f) |
Year Ended June 30, 2018 | | | 9.79 | | | | 0.23 | | | | (0.30 | ) | | | (0.07 | ) | | | (0.23 | ) | | | — | | | | (0.23 | ) | | | 9.49 | | | | (0.75 | )% | | | 1,362 | | | | 0.58 | % | | | 0.33 | % | | | 2.25 | % | | | 43.79 | %(f) |
Year Ended June 30, 2017 | | | 10.01 | | | | 0.20 | | | | (0.20 | ) | | | — | | | | (0.22 | ) | | | — | | | | (0.22 | ) | | | 9.79 | | | | (0.03 | )% | | | 2,942 | | | | 0.58 | % | | | 0.33 | % | | | 1.97 | % | | | 45.74 | %(f) |
Year Ended June 30, 2016 | | | 9.77 | | | | 0.21 | | | | 0.36 | | | | 0.57 | | | | (0.24 | ) | | | (0.09 | ) | | | (0.33 | ) | | | 10.01 | | | | 5.98 | % | | | 2,625 | | | | 0.52 | % | | | 0.27 | % | | | 2.11 | % | | | 58.47 | %(f) |
Year Ended June 30, 2015 | | | 9.88 | | | | 0.19 | | | | (0.07 | ) | | | 0.12 | | | | (0.22 | ) | | | (0.01 | ) | | | (0.23 | ) | | | 9.77 | | | | 1.16 | % | | | 2,796 | | | | 0.52 | % | | | 0.27 | % | | | 1.90 | % | | | 89.60 | %(f) |
| | | | | | | | | | | |
The Fixed Income Opportunity Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 6.85 | | | $ | 0.40 | (d) | | $ | 0.17 | | | $ | 0.57 | | | $ | (0.41 | ) | | $ | — | | | $ | (0.41 | ) | | $ | 7.01 | (g) | | | 8.62 | % | | $ | 597,848 | | | | 0.47 | % | | | 0.47 | % | | | 5.81 | % | | | 51.53 | % |
Year Ended June 30, 2018 | | | 6.95 | | | | 0.38 | | | | (0.10 | ) | | | 0.28 | | | | (0.38 | ) | | | — | | | | (0.38 | ) | | | 6.85 | | | | 4.06 | % | | | 673,271 | | | | 0.44 | % | | | 0.44 | % | | | 5.46 | % | | | 37.57 | % |
Year Ended June 30, 2017 | | | 6.62 | | | | 0.39 | | | | 0.33 | | | | 0.72 | | | | (0.39 | ) | | | — | | | | (0.39 | ) | | | 6.95 | | | | 11.07 | % | | | 673,681 | | | | 0.43 | % | | | 0.43 | % | | | 5.53 | % | | | 41.48 | % |
Year Ended June 30, 2016 | | | 7.08 | | | | 0.37 | | | | (0.43 | ) | | | (0.06 | ) | | | (0.38 | ) | | | (0.02 | ) | | | (0.40 | ) | | | 6.62 | | | | (0.61 | )% | | | 784,435 | | | | 0.39 | % | | | 0.39 | % | | | 5.57 | % | | | 66.76 | %(f) |
Year Ended June 30, 2015 | | | 7.65 | | | | 0.38 | | | | (0.39 | ) | | | (0.01 | ) | | | (0.39 | ) | | | (0.17 | ) | | | (0.56 | ) | | | 7.08 | | | | 0.06 | % | | | 810,466 | | | | 0.32 | % | | | 0.32 | % | | | 5.27 | % | | | 55.80 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Period Ended May 13, 2019(e) | | $ | 6.85 | | | $ | 0.39 | (d) | | $ | 0.05 | | | $ | 0.44 | | | $ | (0.30 | ) | | $ | — | | | $ | (0.30 | ) | | $ | 6.99 | | | | 6.61 | % | | $ | — | | | | 0.72 | % | | | 0.47 | % | | | 5.74 | % | | | 51.53 | % |
Year Ended June 30, 2018 | | | 6.95 | | | | 0.42 | | | | (0.14 | ) | | | 0.28 | | | | (0.38 | ) | | | — | | | | (0.38 | ) | | | 6.85 | | | | 4.06 | % | | | 362 | | | | 0.69 | % | | | 0.44 | % | | | 5.43 | % | | | 37.57 | % |
Year Ended June 30, 2017 | | | 6.62 | | | | 0.38 | | | | 0.34 | | | | 0.72 | | | | (0.39 | ) | | | — | | | | (0.39 | ) | | | 6.95 | | | | 11.08 | % | | | 789 | | | | 0.68 | % | | | 0.43 | % | | | 5.54 | % | | | 41.48 | % |
Year Ended June 30, 2016 | | | 7.08 | | | | 0.38 | | | | (0.44 | ) | | | (0.06 | ) | | | (0.38 | ) | | | (0.02 | ) | | | (0.40 | ) | | | 6.62 | | | | (0.60 | )% | | | 1,012 | | | | 0.64 | % | | | 0.39 | % | | | 5.58 | % | | | 66.76 | %(f) |
Year Ended June 30, 2015 | | | 7.65 | | | | 0.38 | | | | (0.39 | ) | | | (0.01 | ) | | | (0.39 | ) | | | (0.17 | ) | | | (0.56 | ) | | | 7.08 | | | | 0.07 | % | | | 1,094 | | | | 0.57 | % | | | 0.32 | % | | | 5.27 | % | | | 55.80 | % |
| (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. |
| (e) | HC Advisors Shares are still offered, but were fully redeemed on May 13, 2019. |
| (f) | Portfolio turnover does not include TBA security transactions. |
| (g) | The net asset value per share (“NAV”) for financial reporting purposes differs from the NAV reported due to adjustments made in accordance with accounting principles generally accepted in the United States of America. |
See accompanying notes to financial statements.
298
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: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning of
Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Tax
Return of
Capital | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The U.S. Government Fixed Income Securities Portfolio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.59 | | | $ | 0.21 | (d) | | $ | 0.44 | | | $ | 0.65 | | | $ | (0.21 | ) | | $ | — | | | $ | — | | | $ | (0.21 | ) | | $ | 10.03 | | | | 6.87 | % | | $ | 305,531 | | | | 0.20 | % | | | 0.20 | % | | | 2.22 | % | | | 31.43 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 9.84 | | | | 0.17 | | | | (0.25 | ) | | | (0.08 | ) | | | (0.17 | ) | | | — | | | | — | | | | (0.17 | ) | | | 9.59 | | | | (0.79 | )% | | | 233,377 | | | | 0.19 | % | | | 0.19 | % | | | 1.81 | % | | | 32.58 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.30 | | | | 0.15 | | | | (0.36 | ) | | | (0.21 | ) | | | (0.15 | ) | | | (0.10 | ) | | | — | | | | (0.25 | ) | | | 9.84 | | | | (2.03 | )% | | | 215,595 | | | | 0.19 | % | | | 0.19 | % | | | 1.47 | % | | | 46.76 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.02 | | | | 0.14 | | | | 0.38 | | | | 0.52 | | | | (0.14 | ) | | | (0.10 | ) | | | — | | | | (0.24 | ) | | | 10.30 | | | | 5.26 | % | | | 241,795 | | | | 0.17 | % | | | 0.17 | % | | | 1.38 | % | | | 50.10 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 9.94 | | | | 0.12 | | | | 0.08 | | | | 0.20 | | | | (0.12 | ) | | | — | | | | — | | | | (0.12 | ) | | | 10.02 | | | | 2.03 | % | | | 262,998 | | | | 0.17 | % | | | 0.17 | % | | | 1.21 | % | | | 99.54 | % |
|
The Inflation Protected Securities Portfolio | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.98 | | | $ | 0.23 | (d) | | $ | 0.22 | | | $ | 0.45 | | | $ | (0.24 | ) | | $ | — | | | $ | — | | | $ | (0.24 | ) | | $ | 10.19 | | | | 4.59 | % | | $ | 357,229 | | | | 0.17 | % | | | 0.17 | % | | | 2.29 | % | | | 19.97 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.03 | | | | 0.26 | | | | (0.08 | ) | | | 0.18 | | | | (0.23 | ) | | | — | | | | — | | | | (0.23 | ) | | | 9.98 | | | | 1.83 | % | | | 401,456 | | | | 0.16 | % | | | 0.16 | % | | | 2.66 | % | | | 20.77 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.40 | | | | 0.27 | | | | (0.35 | ) | | | (0.08 | ) | | | (0.29 | ) | | | — | | | | — | | | | (0.29 | ) | | | 10.03 | | | | (0.81 | )% | | | 361,996 | | | | 0.15 | % | | | 0.15 | % | | | 2.31 | % | | | 21.69 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.02 | | | | 0.11 | | | | 0.29 | | | | 0.40 | | | | (0.02 | ) | | | — | | | | — | | | | (0.02 | ) | | | 10.40 | | | | 3.99 | % | | | 493,152 | | | | 0.15 | % | | | 0.15 | % | | | 1.11 | % | | | 20.88 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.25 | | | | (0.03 | ) | | | (0.14 | ) | | | (0.17 | ) | | | (0.03 | ) | | | (0.01 | ) | | | (0.02 | ) | | | (0.06 | ) | | | 10.02 | | | | (1.72 | )% | | | 510,176 | | | | 0.18 | % | | | 0.18 | % | | | (0.25 | )% | | | 27.12 | % |
| | | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Period Ended June 14, 2019(e) | | $ | 9.98 | | | $ | 0.21 | (d) | | $ | 0.12 | | | $ | 0.33 | | | $ | (0.18 | ) | | $ | — | | | $ | — | | | $ | (0.18 | ) | | $ | 10.13 | | | | 3.42 | % | | $ | — | | | | 0.42 | % | | | 0.17 | % | | | 2.14 | % | | | 19.97 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.02 | | | | 0.27 | | | | (0.08 | ) | | | 0.19 | | | | (0.23 | ) | | | — | | | | — | | | | (0.23 | ) | | | 9.98 | | | | 1.93 | % | | | 1 | | | | 0.41 | % | | | 0.16 | % | | | 2.70 | % | | | 20.77 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.39 | | | | 0.23 | | | | (0.31 | ) | | | (0.08 | ) | | | (0.29 | ) | | | — | | | | — | | | | (0.29 | ) | | | 10.02 | | | | (0.81 | )% | | | 1 | | | | 0.40 | % | | | 0.15 | % | | | 2.28 | % | | | 21.69 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.01 | | | | 0.11 | | | | 0.29 | | | | 0.40 | | | | (0.02 | ) | | | — | | | | — | | | | (0.02 | ) | | | 10.39 | | | | 4.00 | % | | | 1 | | | | 0.40 | % | | | 0.15 | % | | | 1.09 | % | | | 20.88 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.26 | | | | (0.04 | ) | | | (0.15 | ) | | | (0.19 | ) | | | (0.05 | ) | | | (0.01 | ) | | | — | | | | (0.06 | ) | | | 10.01 | | | | (1.91 | )% | | | 1 | | | | 0.43 | % | | | 0.18 | % | | | (0.25 | )% | | | 27.12 | % |
|
The U.S. Corporate Fixed Income Securities Portfolio | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.59 | | | $ | 0.34 | (d) | | $ | 0.70 | | | $ | 1.04 | | | $ | (0.34 | ) | | $ | — | | | $ | — | | | $ | (0.34 | ) | | $ | 10.29 | | | | 11.07 | % | | $ | 312,255 | | | | 0.21 | % | | | 0.21 | % | | | 3.47 | % | | | 24.55 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.03 | | | | 0.29 | | | | (0.41 | ) | | | (0.12 | ) | | | (0.29 | ) | | | (0.03 | ) | | | — | | | | (0.32 | ) | | | 9.59 | | | | (1.21 | )% | | | 286,956 | | | | 0.20 | % | | | 0.20 | % | | | 3.00 | % | | | 44.69 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.16 | | | | 0.26 | | | | (0.10 | ) | | | 0.16 | | | | (0.26 | ) | | | (0.03 | ) | | | — | | | | (0.29 | ) | | | 10.03 | | | | 1.62 | % | | | 254,908 | | | | 0.19 | % | | | 0.19 | % | | | 2.59 | % | | | 40.47 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 9.88 | | | | 0.27 | | | | 0.48 | | | | 0.75 | | | | (0.27 | ) | | | (0.20 | ) | | | — | | | | (0.47 | ) | | | 10.16 | | | | 7.92 | % | | | 289,331 | | | | 0.19 | % | | | 0.19 | % | | | 2.84 | % | | | 64.20 | % |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.24 | | | | 0.27 | | | | (0.27 | ) | | | — | | | | (0.27 | ) | | | (0.09 | ) | | | — | | | | (0.36 | ) | | | 9.88 | | | | (0.01 | )% | | | 223,329 | | | | 0.28 | % | | | 0.28 | % | | | 2.60 | % | | | 158.19 | % |
| | | | | |
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.32 | | | $ | 0.24 | (d) | | $ | 0.28 | | | $ | 0.52 | | | $ | (0.27 | ) | | $ | — | | | $ | — | | | $ | (0.27 | ) | | $ | 9.57 | | | | 5.70 | % | | $ | 216,403 | | | | 0.24 | % | | | 0.24 | % | | | 2.60 | % | | | 15.12 | %(f) |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 9.59 | | | | 0.21 | | | | (0.23 | ) | | | (0.02 | ) | | | (0.25 | ) | | | — | | | | — | | | | (0.25 | ) | | | 9.32 | | | | (0.20 | )% | | | 205,138 | | | | 0.23 | % | | | 0.23 | % | | | 2.24 | % | | | 17.13 | %(f) |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.88 | | | | 0.18 | | | | (0.22 | ) | | | (0.04 | ) | | | (0.25 | ) | | | — | | | | — | | | | (0.25 | ) | | | 9.59 | | | | (0.38 | )% | | | 183,834 | | | | 0.22 | % | | | 0.22 | % | | | 1.86 | % | | | 17.58 | %(f) |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 9.81 | | | | 0.21 | | | | 0.14 | | | | 0.35 | | | | (0.28 | ) | | | — | | | | — | | | | (0.28 | ) | | | 9.88 | | | | 3.67 | % | | | 208,969 | | | | 0.19 | % | | | 0.19 | % | | | 2.12 | % | | | 15.24 | %(f) |
| | | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 9.87 | | | | 0.19 | | | | — | | | | 0.19 | | | | (0.25 | ) | | | — | | | | — | | | | (0.25 | ) | | | 9.81 | | | | 1.97 | % | | | 252,028 | | | | 0.17 | % | | | 0.17 | % | | | 1.91 | % | | | 29.92 | %(f) |
| (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. |
| (e) | HC Advisors Shares are still offered, but were fully redeemed on June 14, 2019. |
| (f) | Portfolio turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
299
HC CAPITAL TRUST
Financial Highlights (concluded)
Selected data for a share outstanding throughout the periods indicated.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | Change in Net Assets
Resulting From Operations: | | | Distributions to Shareholders: | | | | | | | | | | | | Ratios/Supplementary Data: | |
| | | Net Asset
Value,
Beginning
of Period | | | Net
Investment
Income/(Loss) | | | Net
Realized/
Unrealized
Gains/
(Losses) on
Investments | | | Total from
Operations | | | Net
Investment
Income | | | Net
Realized
Gains from
Investments | | | Total
Distributions to
Shareholders | | | 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 Net
Investment
Income/(Loss) to
Average Net
Assets(b) | | | Portfolio
Turnover Rate(a)(c) | |
The Short-Term Municipal Bond Portfolio | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.80 | | | $ | 0.15 | (d) | | $ | 0.13 | | | $ | 0.28 | | | $ | (0.15 | ) | | $ | — | | | $ | (0.15 | ) | | $ | 9.93 | | | | 2.88 | % | | $ | 106,274 | | | | 0.28 | % | | | 0.28 | % | | | 1.56 | % | | | 14.82 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 9.87 | | | | 0.11 | | | | (0.08 | ) | | | 0.03 | | | | (0.10 | ) | | | — | | | | (0.10 | ) | | | 9.80 | | | | 0.34 | % | | | 79,612 | | | | 0.33 | % | | | 0.33 | % | | | 1.23 | % | | | 18.84 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 9.96 | | | | 0.10 | | | | (0.09 | ) | | | 0.01 | | | | (0.10 | ) | | | — | | | | (0.10 | ) | | | 9.87 | | | | 0.12 | % | | | 17,788 | | | | 0.35 | % | | | 0.35 | % | | | 1.05 | % | | | 25.02 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 9.94 | | | | 0.12 | | | | 0.02 | | | | 0.14 | | | | (0.12 | ) | | | — | (e) | | | (0.12 | ) | | | 9.96 | | | | 1.37 | % | | | 18,665 | | | | 0.31 | % | | | 0.31 | % | | | 1.13 | % | | | 38.47 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.04 | | | | 0.12 | | | | (0.10 | ) | | | 0.02 | | | | (0.12 | ) | | | — | | | | (0.12 | ) | | | 9.94 | | | | 0.19 | % | | | 20,933 | | | | 0.31 | % | | | 0.31 | % | | | 1.18 | % | | | 26.24 | % |
|
The Intermediate Term Municipal Bond Portfolio | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 9.90 | | | $ | 0.22 | (d) | | $ | 0.31 | | | $ | 0.53 | | | $ | (0.22 | ) | | $ | — | | | $ | (0.22 | ) | | $ | 10.21 | | | | 5.45 | % | | $ | 393,097 | | | | 0.32 | % | | | 0.32 | % | | | 2.21 | % | | | 27.03 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.08 | | | | 0.19 | | | | (0.18 | ) | | | 0.01 | | | | (0.19 | ) | | | — | | | | (0.19 | ) | | | 9.90 | | | | 0.13 | % | | | 383,200 | | | | 0.29 | % | | | 0.29 | % | | | 1.94 | % | | | 26.27 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.25 | | | | 0.20 | | | | (0.17 | ) | | | 0.03 | | | | (0.20 | ) | | | — | | | | (0.20 | ) | | | 10.08 | | | | 0.28 | % | | | 385,133 | | | | 0.28 | % | | | 0.28 | % | | | 1.94 | % | | | 19.75 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.06 | | | | 0.21 | | | | 0.19 | | | | 0.40 | | | | (0.21 | ) | | | — | | | | (0.21 | ) | | | 10.25 | | | | 4.05 | % | | | 406,302 | | | | 0.26 | % | | | 0.26 | % | | | 2.08 | % | | | 30.35 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.11 | | | | 0.21 | | | | (0.05 | ) | | | 0.16 | | | | (0.21 | ) | | | — | | | | (0.21 | ) | | | 10.06 | | | | 1.54 | % | | | 420,423 | | | | 0.24 | % | | | 0.24 | % | | | 2.03 | % | | | 25.67 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 1, 2019(f) | | $ | 9.90 | | | $ | 0.22 | (d) | | $ | 0.32 | | | $ | 0.54 | | | $ | (0.19 | ) | | $ | — | | | $ | (0.19 | ) | | $ | 10.25 | | | | 5.48 | % | | $ | — | | | | 0.57 | % | | | 0.31 | % | | | 2.20 | % | | | 27.03 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.08 | | | | 0.20 | | | | (0.19 | ) | | | 0.01 | | | | (0.19 | ) | | | — | | | | (0.19 | ) | | | 9.90 | | | | 0.14 | % | | | 1,008 | | | | 0.54 | % | | | 0.29 | % | | | 1.94 | % | | | 26.27 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.25 | | | | 0.20 | | | | (0.17 | ) | | | 0.03 | | | | (0.20 | ) | | | — | | | | (0.20 | ) | | | 10.08 | | | | 0.28 | % | | | 1,437 | | | | 0.53 | % | | | 0.28 | % | | | 1.94 | % | | | 19.75 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.06 | | | | 0.21 | | | | 0.19 | | | | 0.40 | | | | (0.21 | ) | | | — | | | | (0.21 | ) | | | 10.25 | | | | 4.05 | % | | | 1,400 | | | | 0.51 | % | | | 0.26 | % | | | 2.08 | % | | | 30.35 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.11 | | | | 0.21 | | | | (0.05 | ) | | | 0.16 | | | | (0.21 | ) | | | — | | | | (0.21 | ) | | | 10.06 | | | | 1.54 | % | | | 1,985 | | | | 0.49 | % | | | 0.24 | % | | | 2.03 | % | | | 25.67 | % |
|
The Intermediate Term Municipal Bond II Portfolio | |
HC Strategic Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | $ | 10.09 | | | $ | 0.22 | (d) | | $ | 0.30 | | | $ | 0.52 | | | $ | (0.22 | ) | | $ | (0.01 | ) | | $ | (0.23 | ) | | $ | 10.38 | | | | 5.26 | % | | $ | 78,705 | | | | 0.31 | % | | | 0.31 | % | | | 2.16 | % | | | 17.08 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.30 | | | | 0.22 | | | | (0.21 | ) | | | 0.01 | | | | (0.22 | ) | | | — | (e) | | | (0.22 | ) | | | 10.09 | | | | 0.07 | % | | | 77,455 | | | | 0.27 | % | | | 0.27 | % | | | 2.14 | % | | | 21.56 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.58 | | | | 0.22 | | | | (0.27 | ) | | | (0.05 | ) | | | (0.22 | ) | | | (0.01 | ) | | | (0.23 | ) | | | 10.30 | | | | (0.41 | )% | | | 74,163 | | | | 0.27 | % | | | 0.27 | % | | | 2.13 | % | | | 15.48 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.31 | | | | 0.21 | | | | 0.27 | | | | 0.48 | | | | (0.21 | ) | | | — | (e) | | | (0.21 | ) | | | 10.58 | | | | 4.77 | % | | | 75,147 | | | | 0.25 | % | | | 0.25 | % | | | 2.03 | % | | | 11.22 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.41 | | | | 0.19 | | | | (0.06 | ) | | | 0.13 | | | | (0.19 | ) | | | (0.04 | ) | | | (0.23 | ) | | | 10.31 | | | | 1.31 | % | | | 77,102 | | | | 0.25 | % | | | 0.25 | % | | | 1.85 | % | | | 21.51 | % |
| | | | | | | | | | | | | | |
HC Advisors Shares | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
Period Ended May 1, 2019(f) | | $ | 10.09 | | | $ | 0.22 | (d) | | $ | 0.05 | | | $ | 0.27 | | | $ | (0.18 | ) | | $ | (0.01 | ) | | $ | (0.19 | ) | | $ | 10.17 | | | | 2.78 | % | | $ | — | | | | 0.56 | % | | | 0.30 | % | | | 2.18 | % | | | 17.08 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | | 10.30 | | | | 0.22 | | | | (0.21 | ) | | | 0.01 | | | | (0.22 | ) | | | — | (e) | | | (0.22 | ) | | | 10.09 | | | | 0.07 | % | | | 260 | | | | 0.52 | % | | | 0.27 | % | | | 2.13 | % | | | 21.56 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2017 | | | 10.59 | | | | 0.22 | | | | (0.28 | ) | | | (0.06 | ) | | | (0.22 | ) | | | (0.01 | ) | | | (0.23 | ) | | | 10.30 | | | | (0.50 | )% | | | 372 | | | | 0.52 | % | | | 0.27 | % | | | 2.13 | % | | | 15.48 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2016 | | | 10.31 | | | | 0.21 | | | | 0.28 | | | | 0.49 | | | | (0.21 | ) | | | — | (e) | | | (0.21 | ) | | | 10.59 | | | | 4.87 | % | | | 408 | | | | 0.50 | % | | | 0.25 | % | | | 2.02 | % | | | 11.22 | % |
| | | | | | | | | | | | | | |
Year Ended June 30, 2015 | | | 10.41 | | | | 0.19 | | | | (0.06 | ) | | | 0.13 | | | | (0.19 | ) | | | (0.04 | ) | | | (0.23 | ) | | | 10.31 | | | | 1.31 | % | | | 575 | | | | 0.50 | % | | | 0.25 | % | | | 1.85 | % | | | 21.51 | % |
| (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. |
| (e) | Amount rounds to less than $0.005 per share. |
| (f) | HC Advisors Shares are still offered, but were fully redeemed on May 1, 2019. |
See accompanying notes to financial statements.
300
HC CAPITAL TRUST
Notes to Financial Statements — June 30, 2019
1. DESCRIPTION. HC Capital Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as anopen-end management series investment company. The Trust is a Delaware statutory trust which was organized on December 15, 1994. As of June 30, 2019, the Trust offeredtwenty-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 SmallCapitalization-Mid Capitalization Equity Portfolio (“SmallCap-Mid Cap Portfolio”), The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio (“Institutional SmallCap-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 June 30, 2019, the HC Advisors Shares were not active for any of the Portfolios. 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.
As of June 30, 2019, all the Portfolios in the Trust were diversified Portfolios under the 1940 Act.
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. 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 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.
301
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
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) |
Changes in valuation techniques may result in transfer in and out of an assigned level within the fair value hierarchy. 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 theover-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, Swaptions, Swaps and Forward Currency Contracts): Swaps and swaptions are valued using interdealer broker rates, benchmark yields, and swap details and are typically categorized as Level 2 in the fair value hierarchy. Exchange traded futures, swaps and options are valued using quoted prices from the exchange and are typically categorized as Level 1 in the fair value hierarchy. 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.
302
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
The following is a summary of the inputs used to value the following Portfolios’ securities as of June 30, 2019 (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 | | $ | 564,312 | | | $ | — | | | $ | — | | | $ | 564,312 | |
Investment Companies | | | 18,479 | | | | — | | | | — | | | | 18,479 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 582,791 | | | $ | — | | | $ | — | | | $ | 582,791 | |
Other Financial Instruments1 | | | | | | | | | | | | | | | | |
Futures | | $ | 180 | | | $ | — | | | $ | — | | | $ | 180 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 582,971 | | | $ | — | | | $ | — | | | $ | 582,971 | |
| | | | | | | | | | | | | | | | |
| | | | |
Institutional Value Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 1,057,140 | | | $ | — | | | $ | — | | | $ | 1,057,140 | |
Contingent Right | | | — | | | | 10 | | | | — | | | | 10 | |
U.S. Treasury Obligation | | | — | | | | 119 | | | | — | | | | 119 | |
Exchange-Traded Fund | | | 318 | | | | — | | | | — | | | | 318 | |
Investment Companies | | | 414,943 | | | | — | | | | — | | | | 414,943 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 1,472,401 | | | $ | 129 | | | $ | — | | | $ | 1,472,530 | |
Other Financial Instruments1 | | | | | | | | | | | | | | | | |
Futures | | $ | 4,283 | | | $ | — | | | $ | — | | | $ | 4,283 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 1,476,684 | | | $ | 129 | | | $ | — | | | $ | 1,476,813 | |
| | | | | | | | | | | | | | | | |
| | | | |
Growth Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 777,094 | | | $ | — | | | $ | — | | | $ | 777,094 | |
Exchange-Traded Fund | | | 1,468 | | | | — | | | | — | | | | 1,468 | |
Investment Companies | | | 19,922 | | | | — | | | | — | | | | 19,922 | |
Repurchase Agreement | | | — | | | | 1,761 | | | | — | | | | 1,761 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 798,484 | | | $ | 1,761 | | | $ | — | | | $ | 800,245 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 281 | | | $ | — | | | $ | — | | | $ | 281 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 798,765 | | | $ | 1,761 | | | $ | — | | | $ | 800,526 | |
| | | | | | | | | | | | | | | | |
| | | | |
Institutional Growth Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 1,450,126 | | | $ | — | | | $ | — | | | $ | 1,450,126 | |
U.S. Treasury Obligation | | | — | | | | 85 | | | | — | | | | 85 | |
Exchange-Traded Funds | | | 505 | | | | — | | | | — | | | | 505 | |
Investment Companies | | | 73,154 | | | | — | | | | — | | | | 73,154 | |
Repurchase Agreement | | | — | | | | 2,278 | | | | — | | �� | | 2,278 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 1,523,785 | | | $ | 2,363 | | | $ | — | | | $ | 1,526,148 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 461 | | | $ | — | | | $ | — | | | $ | 461 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 1,524,246 | | | $ | 2,363 | | | $ | — | | | $ | 1,526,609 | |
| | | | | | | | | | | | | | | | |
303
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Portfolio | | LEVEL 1 –
Quoted Prices | | | LEVEL 2 – Other
Significant
Observable Inputs | | | LEVEL 3 –
Significant
Unobservable Inputs | | | Total | |
| | | | |
SmallCap-Mid Cap Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 89,829 | | | $ | — | | | $ | — | | | $ | 89,829 | |
Contingent Rights | | | — | | | | 5 | | | | — | | | | 5 | |
Investment Companies | | | 5,037 | | | | — | | | | — | | | | 5,037 | |
Repurchase Agreement | | | — | | | | 637 | | | | — | | | | 637 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 94,866 | | | $ | 642 | | | $ | — | | | $ | 95,508 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 27 | | | $ | — | | | $ | — | | | $ | 27 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 94,893 | | | $ | 642 | | | $ | — | | | $ | 95,535 | |
| | | | | | | | | | | | | | | | |
| | | | |
Institutional SmallCap-Mid Cap Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 135,990 | | | $ | — | | | $ | — | | | $ | 135,990 | |
Contingent Rights | | | — | | | | 3 | | | | — | | | | 3 | |
U.S. Treasury Obligation | | | — | | | | 15 | | | | — | | | | 15 | |
Investment Companies | | | 10,779 | | | | — | | | | — | | | | 10,779 | |
Repurchase Agreement | | | — | | | | 1,253 | | | | — | | | | 1,253 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 146,769 | | | $ | 1,271 | | | $ | — | | | $ | 148,040 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 144 | | | $ | — | | | $ | — | | | $ | 144 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 146,913 | | | $ | 1,271 | | | $ | — | | | $ | 148,184 | |
| | | | | | | | | | | | | | | | |
| | | | |
Real Estate Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 111,656 | | | $ | — | | | $ | — | | | $ | 111,656 | |
Investment Companies | | | 8,163 | | | | — | | | | — | | | | 8,163 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 119,819 | | | $ | — | | | $ | — | | | $ | 119,819 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | (2 | ) | | $ | — | | | $ | — | | | $ | (2 | ) |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 119,817 | | | $ | — | | | $ | — | | | $ | 119,817 | |
| | | | | | | | | | | | | | | | |
| | | | |
Commodity Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 59,894 | | | $ | 70,913 | | | $ | — | | | $ | 130,807 | |
Preferred Stocks | | | 1,288 | | | | 206 | | | | — | | | | 1,494 | |
Right | | | — | | | | 20 | | | | — | | | | 20 | |
U.S. Treasury Obligations | | | — | | | | 599 | | | | — | | | | 599 | |
Exchange-Traded Fund | | | 29 | | | | — | | | | — | | | | 29 | |
Investment Companies | | | 18,731 | | | | — | | | | — | | | | 18,731 | |
Repurchase Agreements | | | — | | | | 4,750 | | | | — | | | | 4,750 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 79,942 | | | $ | 76,488 | | | $ | — | | | $ | 156,430 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 524 | | | $ | — | | | $ | — | | | $ | 524 | |
Total Return Swap Agreements | | | — | | | | 2 | | | | — | | | | 2 | |
Commodity Forward Swap Agreements | | | — | | | | 3 | | | | — | | | | 3 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 80,466 | | | $ | 76,493 | | | $ | — | | | $ | 156,959 | |
| | | | | | | | | | | | | | | | |
304
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Portfolio | | LEVEL 1 –
Quoted Prices | | | LEVEL 2 – Other
Significant
Observable Inputs | | | LEVEL 3 –
Significant
Unobservable Inputs | | | Total | |
| | | | |
ESG Growth Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 91,752 | | | $ | 48,599 | | | $ | — | | | $ | 140,351 | |
Preferred Stocks | | | — | | | | 85 | | | | — | | | | 85 | |
Rights | | | — | | | | 13 | | | | — | | | | 13 | |
Investment Company | | | 7,288 | | | | — | | | | — | | | | 7,288 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 99,040 | | | $ | 48,697 | | | $ | — | | | $ | 147,737 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 144 | | | $ | — | | | $ | — | | | $ | 144 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 99,184 | | | $ | 48,697 | | | $ | — | | | $ | 147,881 | |
| | | | | | | | | | | | | | | | |
| | | | |
Catholic SRI Growth Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 31,433 | | | $ | 15,449 | | | $ | — | | | $ | 46,882 | |
Preferred Stocks | | | — | | | | 82 | | | | — | | | | 82 | |
Rights | | | — | | | | 3 | | | | — | | | | 3 | |
Investment Companies | | | 3,652 | | | | — | | | | — | | | | 3,652 | |
Repurchase Agreement | | | — | | | | 12 | | | | — | | | | 12 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 35,085 | | | $ | 15,546 | | | $ | — | | | $ | 50,631 | |
| | | | | | | | | | | | | | | | |
| | | | |
International Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 81,575 | | | $ | 764,130 | | | $ | — | | | $ | 845,705 | |
Preferred Stocks | | | 4,219 | | | | 20,434 | | | | — | | | | 24,653 | |
Right | | | — | | | | 71 | | | | — | | | | 71 | |
Investment Companies | | | 8,914 | | | | — | | | | — | | | | 8,914 | |
Repurchase Agreement | | | — | | | | 1,581 | | | | — | | | | 1,581 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 94,708 | | | $ | 786,216 | | | $ | — | | | $ | 880,924 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 219 | | | $ | — | | | $ | — | | | $ | 219 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 94,927 | | | $ | 786,216 | | | $ | — | | | $ | 881,143 | |
| | | | | | | | | | | | | | | | |
| | | | |
Institutional International Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 105,394 | | | $ | 1,535,582 | | | $ | — | | | $ | 1,640,976 | |
Preferred Stocks | | | 5,299 | | | | 23,758 | | | | — | | | | 29,057 | |
Right | | | — | | | | 86 | | | | — | | | | 86 | |
Investment Companies | | | 112,448 | | | | 52,607 | | | | — | | | | 165,055 | |
Repurchase Agreement | | | — | | | | 4,413 | | | | — | | | | 4,413 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 223,141 | | | $ | 1,616,446 | | | $ | — | | | $ | 1,839,587 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | 1,257 | | | $ | — | | | $ | — | | | $ | 1,257 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 224,398 | | | $ | 1,616,446 | | | $ | — | | | $ | 1,840,844 | |
| | | | | | | | | | | | | | | | |
| | | | |
Emerging Markets Portfolio | | | | | | | | | | | | | | | | |
Common Stocks | | $ | 304,243 | | | $ | 1,057,161 | | | $ | — | | | $ | 1,361,404 | |
Preferred Stocks | | | 13,682 | | | | 5,144 | | | | — | | | | 18,826 | |
Rights | | | — | | | | 70 | | | | — | | | | 70 | |
U.S. Treasury Obligation | | | — | | | | 1,339 | | | | — | | | | 1,339 | |
Exchange-Traded Fund | | | 8,255 | | | | — | | | | — | | | | 8,255 | |
Investment Companies | | | 49,457 | | | | — | | | | — | | | | 49,457 | |
Repurchase Agreement | | | — | | | | 7,160 | | | | — | | | | 7,160 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 375,637 | | | $ | 1,070,874 | | | $ | — | | | $ | 1,446,511 | |
305
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
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 | | $ | 1,644 | | | $ | — | | | $ | — | | | $ | 1,644 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 377,281 | | | $ | 1,070,874 | | | $ | — | | | $ | 1,448,155 | |
| | | | | | | | | | | | | | | | |
| | | | |
Core Fixed Income Portfolio | | | | | | | | | | | | | | | | |
Asset Backed Securities | | $ | — | | | $ | 240 | | | $ | — | | | $ | 240 | |
Collateralized Mortgage Obligations | | | — | | | | 984 | | | | — | | | | 984 | |
U.S. Government Agency Mortgages | | | — | | | | 14,519 | | | | — | | | | 14,519 | |
U.S. Government Agency Securities | | | — | | | | 649 | | | | — | | | | 649 | |
Corporate Bonds | | | — | | | | 23,012 | | | | — | | | | 23,012 | |
U.S. Treasury Obligations | | | — | | | | 20,553 | | | | — | | | | 20,553 | |
Yankee Dollars | | | — | | | | 3,921 | | | | — | | | | 3,921 | |
Investment Companies | | | 5,838 | | | | — | | | | — | | | | 5,838 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 5,838 | | | $ | 63,878 | | | $ | — | | | $ | 69,716 | |
| | | | | | | | | | | | | | | | |
| | | | |
Fixed Opportunity Portfolio | | | | | | | | | | | | | | | | |
Asset Backed Securities | | $ | — | | | $ | 8,668 | | | $ | — | | | $ | 8,668 | |
Collateralized Mortgage Obligations | | | — | | | | 98,970 | | | | 5,000 | 2 | | | 103,970 | |
U.S. Government Agency Mortgages | | | — | | | | 34,433 | | | | — | | | | 34,433 | |
Corporate Bonds | | | — | | | | 291,239 | | | | — | | | | 291,239 | |
Yankee Dollars | | | — | | | | 78,137 | | | | — | | | | 78,137 | |
Investment Companies | | | 77,774 | | | | — | | | | — | | | | 77,774 | |
Purchased Swaption | | | — | | | | 8 | | | | — | | | | 8 | |
Common Stock | | | — | | | | — | | | | — | | | | — | |
Repurchase Agreement | | | — | | | | 5,855 | | | | — | | | | 5,855 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 77,774 | | | $ | 517,310 | | | $ | 5,000 | | | $ | 600,084 | |
Other Financial Instruments1 | | | | | | | | | |
Futures | | $ | (51 | ) | | $ | — | | | $ | — | | | $ | (51 | ) |
Credit Default Swap Agreements | | | — | | | | 26 | | | | — | | | | 26 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 77,723 | | | $ | 517,336 | | | $ | 5,000 | | | $ | 600,059 | |
| | | | | | | | | | | | | | | | |
U.S. Government Fixed Income Portfolio | | | | | | | | | | | | | | | | |
U.S. Government Agency Securities | | $ | — | | | $ | 9,127 | | | $ | — | | | $ | 9,127 | |
U.S. Treasury Obligations | | | — | | | | 293,900 | | | | — | | | | 293,900 | |
Yankee Dollar | | | — | | | | 132 | | | | — | | | | 132 | |
Investment Company | | | 551 | | | | — | | | | — | | | | 551 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 551 | | | $ | 303,159 | | | $ | — | | | $ | 303,710 | |
| | | | | | | | | | | | | | | | |
| | | | |
Inflation Protected Portfolio | | | | | | | | | | | | | | | | |
U.S. Treasury Obligations | | $ | — | | | $ | 341,307 | | | $ | — | | | $ | 341,307 | |
Investment Company | | | 15,365 | | | | — | | | | — | | | | 15,365 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 15,365 | | | $ | 341,307 | | | $ | — | | | $ | 356,672 | |
| | | | | | | | | | | | | | | | |
U.S. Corporate Fixed Income Portfolio | | | | | | | | | | | | | | | | |
Corporate Bonds | | $ | — | | | $ | 251,234 | | | $ | — | | | $ | 251,234 | |
Yankee Dollars | | | — | | | | 48,618 | | | | — | | | | 48,618 | |
Investment Companies | | | 9,530 | | | | — | | | | — | | | | 9,530 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 9,530 | | | $ | 299,852 | | | $ | — | | | $ | 309,382 | |
| | | | | | | | | | | | | | | | |
306
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Portfolio | | LEVEL 1 –
Quoted Prices | | | LEVEL 2 – Other
Significant
Observable Inputs | | | LEVEL 3 –
Significant
Unobservable Inputs | | | Total | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | | | | | | | | | | | | | | |
Asset Backed Securities | | $ | — | | | $ | 3,172 | | | $ | — | | | $ | 3,172 | |
Collateralized Mortgage Obligations | | | — | | | | 13,693 | | | | — | | | | 13,693 | |
U.S. Government Agency Mortgages | | | — | | | | 191,520 | | | | — | | | | 191,520 | |
Yankee Dollar | | | — | | | | 91 | | | | — | | | | 91 | |
Investment Company | | | 37,027 | | | | — | | | | — | | | | 37,027 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 37,027 | | | $ | 208,476 | | | $ | — | | | $ | 245,503 | |
Other Financial Instruments3 | | | | | | | | | | | | | | | | |
TBA Sale Commitments | | $ | — | | | $ | (107 | ) | | $ | — | | | $ | (107 | ) |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 37,027 | | | $ | 208,369 | | | $ | — | | | $ | 245,396 | |
| | | | | | | | | | | | | | | | |
| | | | |
Short-Term Municipal Portfolio | | | | | | | | | | | | | | | | |
Municipal Bonds | | $ | — | | | $ | 105,112 | | | $ | — | | | $ | 105,112 | |
Investment Company | | | 4,171 | | | | — | | | | — | | | | 4,171 | |
| | | | | | | | | | | | | | | | |
Total Investment Securities | | $ | 4,171 | | | $ | 105,112 | | | $ | — | | | $ | 109,283 | |
| | | | | | | | | | | | | | | | |
| | | | |
Intermediate Municipal Portfolio | | | | | | | | | | | | | | | | |
Municipal Bonds | | $ | — | | | $ | 348,541 | | | $ | — | | | $ | 348,541 | |
Corporate Bond | | | — | | | | — | | | | — | | | | — | |
Investment Companies | | | 41,692 | | | | — | | | | — | | | | 41,692 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 41,692 | | | $ | 348,541 | | | $ | — | | | $ | 390,233 | |
| | | | | | | | | | | | | | | | |
| | | | |
Intermediate Municipal II Portfolio | | | | | | | | | | | | | | | | |
Municipal Bonds | | $ | — | | | $ | 76,065 | | | $ | — | | | $ | 76,065 | |
Investment Company | | | 3,573 | | | | — | | | | — | | | | 3,573 | |
| | | | | | | | | | | | | | | | |
Total Investments | | $ | 3,573 | | | $ | 76,065 | | | $ | — | | | $ | 79,638 | |
| | | | | | | | | | | | | | | | |
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 swaptions and swap agreements, which are valued at fair value. |
| 2 | A reconciliation of assets in which Level 3 inputs are used in determining fair value, along with the additional quantitative disclosures, are presented when there are significant Level 3 investments at the end of the period. As of June 30, 2019 Level 3 investments were 0.80% of net assets and are not considered significant. |
| 3 | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at the time. |
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 theex-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.Pay-in-kind interest income andnon-cash dividend income received in the form of securitiesin-lieu of cash, if any, are recorded at the fair value of the securities received. 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.
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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.
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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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 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 andnon-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 June 30, 2019 (amounts in thousands):
| | | | | | | | | | | | |
Portfolio | | Value of
Repurchase
Agreements | | | Value of
Collateral
Received | | | Net
Amount | |
Commodity Portfolio | | $ | 4,700 | | | $ | 4,700 | | | $ | — | |
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
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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 year ended June 30, 2019, the following commissions were recaptured:
| | | | |
Portfolio | | Commissions
Recaptured
(000) | |
Value Portfolio | | $ | 5 | |
Institutional Value Portfolio | | | 5 | |
Growth Portfolio | | | 5 | |
Institutional Growth Portfolio | | | 8 | |
Small Cap–Mid Cap Portfolio | | | 15 | |
Institutional Small Cap–Mid Cap Portfolio | | | 10 | |
Real Estate Portfolio | | | 2 | |
Commodity Portfolio | | | 2 | |
International Portfolio | | | 14 | |
Institutional International Portfolio | | | 8 | |
Emerging Markets Portfolio | | | 12 | |
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 fromnon-U.S. sources received by a Portfolio are generally subject tonon-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 ofnon-U.S. corporations, the Portfolio may elect to treat anynon-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.
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The following is a summary of the fair value of derivative instruments held by the Portfolios as of June 30, 2019 (amounts in thousands).
| | | | | | | | | | | | | | | | |
| | | Assets | |
Portfolio | | Unrealized
appreciation
on futures
contracts* | | | Investments,
at value
for purchased
swaptions | | | Unrealized
appreciation
on forward
currency
contracts* | | | Swap
agreements,
at value* | |
Equity Risk Exposure: | | | | | | | | | | | | | | | | |
Value Portfolio | | $ | 180 | | | $ | — | | | $ | — | | | $ | — | |
Institutional Value Portfolio | | | 4,283 | | | | — | | | | — | | | | — | |
Growth Portfolio | | | 281 | | | | — | | | | — | | | | — | |
Institutional Growth Portfolio | | | 461 | | | | — | | | | — | | | | — | |
SmallCap-Mid Cap Portfolio | | | 27 | | | | — | | | | — | | | | — | |
Institutional SmallCap-Mid Cap Portfolio | | | 144 | | | | — | | | | — | | | | — | |
Commodity Portfolio | | | 291 | | | | — | | | | — | | | | — | |
ESG Growth Portfolio | | | 144 | | | | — | | | | — | | | | — | |
International Portfolio | | | 219 | | | | — | | | | — | | | | — | |
Institutional International Portfolio | | | 1,257 | | | | — | | | | — | | | | — | |
Emerging Markets Portfolio | | | 1,644 | | | | — | | | | — | | | | — | |
| | | | |
Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 100 | | | | — | | | | — | | | | — | |
Fixed Opportunity Portfolio | | | — | | | | — | | | | — | | | | — | |
| | | | |
Commodity Risk Exposure: | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 213 | | | | — | | | | — | | | | 6 | |
| | | | |
Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | 395 | | | | — | | | | — | | | | — | |
| | | | |
Credit Risk Exposure: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | — | | | | 8 | | | | — | | | | 26 | |
| |
| | | Liabilities | |
Portfolio | | Unrealized
depreciation
on futures
contracts* | | | Written
options,
at fair value | | | Unrealized
depreciation
on forward
currency
contracts*
| | | Swap
agreements,
at value* | |
Equity Risk Exposure: | | | | | | | | | | | | | | | | |
Real Estate Portfolio | | $ | 2 | | | $ | — | | | $ | — | | | $ | — | |
| | | | |
Commodity Risk Exposure: | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 80 | | | | — | | | | — | | | | 1 | |
| | | | |
Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | 446 | | | | — | | | | — | | | | — | |
| * | 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, the amounts represent their cumulative appreciation/depreciation, which includes movements of variation margin. |
| | Amounts designated as “—” are $0 or have been rounded to $0. |
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
The following is a summary of the effect of derivative instruments on the Statements of Operations for the year ended June 30, 2019 (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | |
Portfolio | | Net realized
gains/(losses)
from futures
transactions | | | Net realized
gains/(losses)
from written
options &
swaptions
transactions | | | Net realized
gains/(losses)
from purchased
options &
swaptions
transactions | | | Net realized
gains/(losses)
from forward
currency
contracts | | | Net realized
gains/(losses)
from swap
transactions | |
Equity Risk Exposure: | | | | | | | | | | | | | | | | | | | | |
Value Portfolio | | $ | (985 | ) | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
Institutional Value Portfolio | | | 24,079 | | | | — | | | | — | | | | — | | | | — | |
Growth Portfolio | | | 617 | | | | — | | | | — | | | | — | | | | — | |
Institutional Growth Portfolio | | | 25,612 | | | | — | | | | — | | | | — | | | | — | |
SmallCap-Mid Cap Portfolio | | | (421) | | | | — | | | | — | | | | — | | | | — | |
Institutional SmallCap-Mid Cap Portfolio | | | (300) | | | | — | | | | — | | | | — | | | | — | |
Real Estate Portfolio | | | 362 | | | | — | | | | — | | | | — | | | | — | |
Commodity Portfolio | | | 11,583 | | | | — | | | | — | | | | — | | | | — | |
ESG Growth Portfolio | | | 179 | | | | — | | | | — | | | | — | | | | — | |
International Portfolio | | | (2,444) | | | | — | | | | — | | | | — | | | | — | |
Institutional International Portfolio | | | 1,782 | | | | — | | | | — | | | | — | | | | — | |
Emerging Markets Portfolio | | | (1,546) | | | | — | | | | — | | | | — | | | | — | |
| | | | | |
Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 98 | | | | — | | | | — | | | | (479 | ) | | | — | |
ESG Growth Portfolio | | | — | | | | — | | | | — | | | | (62 | ) | | | — | |
Catholic SRI Growth Portfolio | | | — | | | | — | | | | — | | | | (23 | ) | | | — | |
International Portfolio | | | 501 | | | | — | | | | — | | | | (289 | ) | | | — | |
Institutional International Portfolio | | | 1,045 | | | | — | | | | — | | | | (202 | ) | | | — | |
Emerging Markets Portfolio | | | — | | | | — | | | | — | | | | (496 | ) | | | — | |
Fixed Opportunity Portfolio | | | (61 | ) | | | — | | | | — | | | | — | | | | — | |
| | | | | |
Commodity Risk Exposure: | | | | | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | (3,712 | ) | | | 4 | | | | (18 | ) | | | — | | | | (279 | ) |
| | | | | |
Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | (1,076 | ) | | | — | | | | — | | | | — | | | | — | |
| | | | | |
Credit Risk Exposure: | | | | | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | — | | | | 413 | | | | (27 | ) | | | — | | | | (172 | ) |
| | | | | | | | | | | | | | | | |
| | | 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 purchased
options and
swaptions | | | Change in
unrealized
appreciation/
(depreciation)
on forward
currency
contracts | | | Change in
unrealized
appreciation/
(depreciation)
on swaps | |
Equity Risk Exposure: | | | | | | | | | | | | | | | | |
Value Portfolio | | $ | 894 | | | $ | — | | | $ | — | | | $ | — | |
Institutional Value Portfolio | | | 6,502 | | | | — | | | | — | | | | — | |
Growth Portfolio | | | 316 | | | | — | | | | — | | | | — | |
Institutional Growth Portfolio | | | 1,368 | | | | — | | | | — | | | | — | |
SmallCap-Mid Cap Portfolio | | | 141 | | | | — | | | | — | | | | — | |
Institutional SmallCap-Mid Cap Portfolio | | | 239 | | | | — | | | | — | | | | — | |
Real Estate Portfolio | | | (275 | ) | | | — | | | | — | | | | — | |
Commodity Portfolio | | | 461 | | | | — | | | | — | | | | — | |
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
| | | 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 purchased
options and
swaptions | | | Change in
unrealized
appreciation/
(depreciation)
on forward
currency
contracts | | | Change in
unrealized
appreciation/
(depreciation)
on swaps | |
| | | | |
Equity Risk Exposure: | | | | | | | | | | | | | | | | |
ESG Growth Portfolio | | $ | 173 | | | $ | — | | | $ | — | | | $ | — | |
International Portfolio | | | 2,966 | | | | — | | | | — | | | | — | |
Institutional International Portfolio | | | 2,911 | | | | — | | | | — | | | | — | |
Emerging Markets Portfolio | | | 1,768 | | | | — | | | | — | | | | — | |
| | | | |
Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 155 | | | | — | | | | — | | | | — | |
International Portfolio | | | (63 | ) | | | — | | | | (7 | ) | | | — | |
Institutional International Portfolio | | | (132 | ) | | | — | | | | (17 | ) | | | — | |
Emerging Markets Portfolio | | | — | | | | — | | | | (98 | ) | | | — | |
| | | | |
Commodity Risk Exposure: | | | | | | | | | | | | | | | | |
Commodity Portfolio | | | 885 | | | | — | | | | — | | | | 109 | |
| | | | |
Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | 203 | | | | — | | | | — | | | | — | |
| | | | |
Credit Risk Exposure: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | | — | | | | (9 | ) | | | — | | | | 221 | |
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 a Portfolio and the counterparty to be netted. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the counterparty. The MNA do not apply to amounts owed to/from different counterparties. The amounts shown in the Statement of Assets and Liabilities do not take into consideration the effects of legally enforceable MNA. The table below presents the gross and net amounts of these assets and liabilities with any offsets to reflect the Portfolio’s ability to transact net amounts with counterparties at June 30, 2019.
As of June 30, 2019, 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 | | $ | 180 | | | $ | — | | | $ | 4,283 | | | $ | — | | | $ | 281 | | | $ | — | | | $ | 461 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total derivative assets and liabilities in the Statements of Assets and Liabilities | | | 180 | | | | — | | | | 4,283 | | | | — | | | | 281 | | | | — | | | | 461 | | | | — | |
Derivatives not subject to a MNA or similar agreement | | | (180 | ) | | | — | | | | (4,283 | ) | | | — | | | | (281 | ) | | | — | | | | (461 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets and liabilities subject to a MNA | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 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 | | $ | 27 | | | $ | — | | | $ | 144 | | | $ | — | | | $ | — | | | $ | 2 | | | $ | 604 | | | $ | 80 | |
Swap agreements | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 6 | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total derivative assets and liabilities in the Statements of Assets and Liabilities | | | 27 | | | | — | | | | 144 | | | | — | | | | — | | | | 2 | | | | 610 | | | | 81 | |
Derivatives not subject to a MNA or similar agreement | | | (27 | ) | | | — | | | | (144 | ) | | | — | | | | — | | | | (2 | ) | | | (604 | ) | | | (80 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets and liabilities subject to a MNA | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 6 | | | $ | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
| | | ESG Growth
Portfolio | | | International
Portfolio | | | Institutional
International Portfolio | | | Emerging Markets
Portfolio | |
| | | Assets | | | Liabilities | | | Assets | | | Liabilities | | | Assets | | | Liabilities | | | Assets | | | Liabilities | |
Derivative Financial Instruments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Futures contracts | | $ | 144 | | | $ | — | | | $ | 219 | | | $ | — | | | $ | 1,257 | | | $ | — | | | $ | 1,644 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total derivative assets and liabilities in the Statements of Assets and Liabilities | | | 144 | | | | — | | | | 219 | | | | — | | | | 1,257 | | | | — | | | | 1,644 | | | | — | |
Derivatives not subject to a MNA or similar agreement | | | (144 | ) | | | — | | | | (219 | ) | | | — | | | | (1,257 | ) | | | — | | | | (1,644 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets and liabilities subject to a MNA | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | |
| | | Fixed Opportunity
Portfolio | | | | | | | | | | |
| | | Assets | | | Liabilities | | | | | | | | | | | | | | | | | | | |
Derivative Financial Instruments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Futures contracts | | $ | 395 | | | $ | 446 | | | | | | | | | | | | | | | | | | | | | | | | | |
Swaptions | | | 8 | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | |
Swap agreements | | | 26 | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total derivative assets and liabilities in the Statements of Assets and Liabilities | | | 429 | | | | 446 | | | | | | | | | | | | | | | | | | | | | | | | | |
Derivatives not subject to a MNA or similar agreement | | | (395 | ) | | | (446 | ) | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets and liabilities subject to a MNA | | $ | 34 | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
313
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Notes to Financial Statements (continued) — June 30, 2019
The following table represents the Commodity Portfolio’s and the Fixed Opportunity Portfolio’s derivative assets by counterparty, net of amounts available for offset under a MNA and net of the related collateral received by the Portfolios as of June 30, 2019 (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: | | | | | | | | | | | | | | | | | | | | |
Goldman Sachs International | | $ | 6 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6 | |
| | | | | | | | | | | | | | | | | | | | |
Total | | $ | 6 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6 | |
| | | | | | | | | | | | | | | | | | | | |
| | | | | |
Fixed Opportunity Portfolio: | | | | | | | | | | | | | | | | | | | | |
Goldman Sachs International | | $ | 8 | | | $ | — | | | $ | — | | | $ | — | | | $ | 8 | |
Morgan Stanley | | | 26 | | | | — | | | | — | | | | (26 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Total | | $ | 34 | | | $ | — | | | $ | — | | | $ | (26 | ) | | $ | 8 | |
| | | | | | | | | | | | | | | | | | | | |
The following table represents the Commodity Portfolio’s derivative liabilities by counterparty, net of amounts available for offset under a MNA and net of the related collateral pledged by the Portfolio as of June 30, 2019 (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 PLC | | $ | 1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | |
| | | | | | | | | | | | | | | | | | | | |
Total | | $ | 1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | |
| | | | | | | | | | | | | | | | | | | | |
| (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 ismarked-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 is subject to credit risk, which is the risk that the counterparty is unable to meet the terms of a forward contract, and market risk, which is the risk that 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 June 30, 2019 are recorded for financial reporting purposes as net unrealized gains or losses. In addition, at June 30, 2019, the Portfolios entered into currency contracts to settle trades in foreign currencies. These transactions are included in “Receivable from investments sold” and “Payable for investments
314
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Notes to Financial Statements (continued) — June 30, 2019
purchased” on the Statements of Assets and Liabilities. Themonth-end average contract amount for all forward contracts during the year ended June 30, 2019 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 | | $ | — | | | $ | — | | | $ | — | | | $ | 492 | |
Catholic SRI Growth Portfolio | | | — | | | | — | | | | 6 | | | | — | |
International Portfolio | | | — | | | | — | | | | 185 | | | | 321 | |
Institutional International Portfolio | | | — | | | | — | | | | 137 | | | | 17 | |
Emerging Markets Portfolio | | | — | | | | — | | | | — | | | | 4 | |
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”) in order to reduce such risks, as part of their investment strategies or 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 June 30, 2019 and themonth-end average notional amount for the year ended June 30, 2019 are detailed in the table below:
| | | | | | | | | | | | | | | | |
| | | Outstanding
Notional Amount
(000) | | | Monthly Average
Notional Amount
(000) | |
Futures Contracts: | | Long | | | Short | | | Long | | | Short | |
Value Portfolio | | $ | 16,413 | | | $ | — | | | $ | 13,506 | | | $ | — | |
Institutional Value Portfolio | | | 436,247 | | | | — | | | | 128,565 | | | | — | |
Growth Portfolio | | | 16,540 | | | | — | | | | 12,821 | | | | — | |
Institutional Growth Portfolio | | | 91,336 | | | | — | | | | 65,251 | | | | — | |
SmallCap-Mid Cap Portfolio | | | 1,097 | | | | — | | | | 1,787 | | | | — | |
Institutional SmallCap-Mid Cap Portfolio | | | 5,798 | | | | — | | | | 4,196 | | | | — | |
Real Estate Portfolio | | | 104 | | | | — | | | | 7,224 | | | | — | |
Commodity Portfolio | | | 30,412 | | | | 123 | | | | 85,237 | | | | 1,539 | |
ESG Growth Portfolio | | | 7,398 | | | | — | | | | 3,934 | | | | — | |
International Portfolio | | | 7,693 | | | | — | | | | 25,397 | | | | 6,462 | |
Institutional International Portfolio | | | 81,452 | | | | — | | | | 57,917 | | | | 8,297 | |
Emerging Markets Portfolio | | | 61,835 | | | | — | | | | 35,720 | | | | 77 | |
Fixed Opportunity Portfolio | | | 81,216 | | | | 24,960 | | | | 50,544 | | | | 36,121 | |
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Notes to Financial Statements (continued) — June 30, 2019
Purchased Options & Swaptions Contracts: Certain of the Portfolios may be subject to equity price risk, commodities price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure pending direct investment in securities, certain of the Portfolios may purchase put or call options. Options contracts provide the purchaser with the right, but not the obligation, to buy or sell (call or put option, respectively) a financial instrument at the exercise price. The Portfolio pays a premium which is included in “Investments, at value” on the Statement of Assets and Liabilities andmarked-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 & Swaptions 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 aremarked-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.
Credit default swaptions may be written or purchased to hedge exposure to the credit risk of an investment without making a commitment to the underlying instrument. A credit default swaption is an option to sell or buy credit protection on a specific reference by entering into apre-defined swap agreement by some specific date in the future.
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. Withover-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 and swaptions outstanding at June 30, 2019 and themonth-end average notional amount for the year ending June 30, 2019 are detailed in the table below:
| | | | | | | | |
Option and Swaption Contracts: | | Outstanding
Notional Amount
(000) | | | Monthly Average
Notional Amount
(000) | |
Commodity Portfolio | | $ | — | | | $ | 10 | |
Fixed Opportunity Portfolio | | | 8,336 | | | | 3,667 | |
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 atwo-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 theover-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.
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.
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
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.
Credit Default Swaps: Certain of the Portfolios may invest in credit default swaps for hedging purposes or for market exposure. Credit default swaps involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return in the event of a default or other credit event for the referenced entity, obligation or index and are subject to credit risk exposure. The maximum potential amount of future payments that a Portfolio as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. Notional amounts of each individual credit default swap agreement outstanding for which a Portfolio is the seller of protection are disclosed in the Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Portfolio for the same referenced entity or entities.
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 June 30, 2019 is disclosed in the swap tables included in the Portfolios of Investments. The notional value of the swap agreements outstanding at June 30, 2019 and themonth-end average notional amount for the year ended June 30, 2019 are detailed in the tables below (amounts in thousands):
| | | | | | | | |
Portfolio | | Outstanding
Notional Amount
(000) | | | Monthly Average
Notional Amount
(000) | |
Total Return Swap Agreements: | | | | | | | | |
Commodity Portfolio | | $ | 177 | | | $ | 635 | |
| | |
Commodity Forward Swap Agreements: | | | | | | | | |
Commodity Portfolio | | | 47 | | | | 270 | |
| | | | | | | | | | | | | | | | |
| | | Outstanding
Notional Amount
(000) | | | Monthly Average
Notional Amount
(000) | |
Portfolio | | Buy Protection | | | Sell Protection | | | Buy Protection | | | Sell Protection | |
Credit Default Swap Agreements: | | | | | | | | | | | | | | | | |
Fixed Opportunity Portfolio | | $ | 16,600 | | | $ | — | | | $ | 13,989 | | | $ | — | |
317
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
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 year ended June 30, 2019, 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 bynon-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, in which case, the principal and income of an inflation-protected bond will decline and may result in losses.
M. 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 ismarked-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 June 30, 2019 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.
Cash collateral received from the borrower is recorded in the Statements of Assets and Liabilities as “Payable for collateral received on loaned securities.” Investments acquired with such cash collateral are reported in a manner consistent with other portfolio investments held by the Portfolios as an investment, at value on the Statements of Assets and Liabilities. The Portfolios may receivenon-cash collateral in the form of securities such as U.S. treasuries, which the Portfolios may not sell orre-pledge and accordingly are not reflected in the Statements of Assets and Liabilities.
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 June 30, 2019 (amounts in thousands):
| | | | | | | | | | | | |
Portfolio | | Value of
Securities
on Loan | | | Value of
Collateral
Received* | | | Net Amount | |
|
Growth Portfolio | | $ | 2,972 | | | $ | 2,972 | | | $ | — | |
Institutional Growth Portfolio | | | 3,844 | | | | 3,844 | | | | — | |
Small Cap–Mid Cap Portfolio | | | 1,015 | | | | 1,015 | | | | — | |
Institutional Small Cap–Mid Cap Portfolio | | | 2,102 | | | | 2,102 | | | | — | |
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | |
Portfolio | | Value of
Securities
on Loan | | | Value of
Collateral
Received* | | | Net Amount | |
Commodity Portfolio | | $ | 164 | | | $ | 164 | | | $ | — | |
Catholic SRI Portfolio | | | 19 | | | | 19 | | | | — | |
International Portfolio | | | 8,102 | | | | 8,102 | | | | — | |
Institutional International Portfolio | | | 23,830 | | | | 23,830 | | | | — | |
Emerging Markets Portfolio | | | 12,628 | | | | 12,628 | | | | — | |
Fixed Opportunity Portfolio | | | 8,454 | | | | 8,454 | | | | — | |
| * | 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 June 30, 2019 (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Security Type | | | Remaining Contractual
Maturity of the
Agreements | | | | | | | | | | |
Portfolio | | Common
Stocks | | | Corporate
Bonds | | | Yankee
Dollars | | | Investment
Companies | | | Overnight and
Continuous | | | Up to 30
days | | | Total Value
of Securities
on Loan | | | Value of
Collateral
Received | | | Net Amount
Due to/(from)
Counterparty | |
Growth Portfolio | | $ | 2,972 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,972 | | | $ | — | | | $ | 2,972 | | | $ | 3,025 | | | $ | 53 | |
Institutional Growth Portfolio | | | 3,844 | | | | — | | | | — | | | | — | | | | 3,844 | | | | — | | | | 3,844 | | | | 3,913 | | | | 69 | |
Small Cap–Mid Cap Portfolio | | | 1,005 | | | | — | | | | — | | | | 10 | | | | 1,015 | | | | — | | | | 1,015 | | | | 1,094 | | | | 79 | |
Institutional Small Cap–Mid Cap Portfolio | | | 2,102 | | | | — | | | | — | | | | — | | | | 2,102 | | | | — | | | | 2,102 | | | | 2,153 | | | | 51 | |
Commodity Portfolio | | | 164 | | | | — | | | | — | | | | — | | | | 83 | | | | 81 | | | | 164 | | | | 174 | * | | | 10 | |
Catholic SRI Portfolio | | | 19 | | | | — | | | | — | | | | — | | | | 15 | | | | 4 | | | | 19 | | | | 21 | | | | 2 | |
International Portfolio | | | 8,102 | | | | — | | | | — | | | | — | | | | 585 | | | | 7,517 | | | | 8,102 | | | | 9,117 | * | | | 1,015 | |
Institutional International Portfolio | | | 23,830 | | | | — | | | | — | | | | — | | | | 4,908 | | | | 18,922 | | | | 23,830 | | | | 25,527 | * | | | 1,697 | |
Emerging Markets Portfolio | | | 12,628 | | | | — | | | | — | | | | — | | | | 6,448 | | | | 6,180 | | | | 12,628 | | | | 13,478 | * | | | 850 | |
Fixed Opportunity Portfolio | | | — | | | | 6,323 | | | | 2,131 | | | | — | | | | 8,454 | | | | — | | | | 8,454 | | | | 10,058 | | | | 1,604 | |
| * | Includes non-cash collateral received with a value of (amounts in thousands) $89, $6,402, $17,945 and $1,178 for the Commodity Portfolio, International Portfolio, Institutional International Portfolio and Emerging Markets Portfolio, respectively. |
N. 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 HC Commodity Related Securities Fund, Ltd. subsidiary represented 1.19% of the Commodity Portfolio’s net assets as of June 30, 2019.
The Commodity Portfolio fully liquidated its investment in the HC Commodity Related Securities Fund II, Ltd. on July 3, 2018. The consolidated financial statements include the accounts of the Commodity Portfolio and the Funds. All intercompany transactions and balances have been eliminated.
O. Recent Accounting Pronouncements. In March 2017, FASB issued Accounting Standards UpdateNo. 2017-08 “Premium Amortization on Purchased Callable Debt Securities” (“ASU2017-08”), which shortens the premium amortization
319
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
period for purchasednon-contingently callable debt securities. ASU2017-08 specifies that the premium amortization period ends at the earliest call date, for purchasednon-contingently callable debt securities. ASU2017-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the impact of these changes on the financial statements.
In August 2018, FASB issued ASUNo. 2018-13, “Disclosure Framework-Change to the Disclosure Requirements for Fair Value Measurement” (“ASU2018-13”). This update makes certain removals from, changes to and additions to existing disclosure requirements for fair value measurements. In addition, the amendments clarify that materiality is an appropriate consideration when evaluating disclosure requirements. ASU2018-13 does not change fair value measurements already required or permitted by existing standards. ASU2018-13 is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. As permitted, the Portfolios have early-adopted the elimination provisions of ASU2018-13 with the financial statements prepared as of June 30, 2019. Management is currently evaluating the impact of these changes on the financial statements.
In August 2018, the SEC adopted amendments to certain financial statement disclosure requirements to conform them to GAAP for investment companies. These amendments made certain removals from, changes to and additions to existing disclosure requirements under RegulationS-X. The Portfolios’ adoption of these amendments had no effect on the Portfolios’ net assets or results of operations. As a result of adopting these amendments, the distributions to shareholders in the June 30, 2018 Statements of Changes in Net Assets presented herein have been reclassified to conform to the current year presentation, which includes all distributions to each Class of shareholders, other than tax basis return of capital distributions, in one line item, called “Distributions”.
| | | | | | | | | | | | | | | | | | | | |
| | | Value
Portfolio | | | Institutional Value
Portfolio | | | Growth
Portfolio | | | Institutional
Growth Portfolio | | | Small Cap-Mid Cap
Portfolio | |
| Distributions | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | |
Net investment income: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (13,471 | ) | | $ | (17,837 | ) | | $ | (7,693 | ) | | $ | (11,617 | ) | | $ | (391 | ) |
HC Advisors Shares | | | (18 | ) | | | (25 | ) | | | (10 | ) | | | (16 | ) | | | (1 | ) |
Net realized gains: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (28,142 | ) | | $ | (54,372 | ) | | $ | (38,337 | ) | | $ | (42,580 | ) | | $ | — | |
HC Advisors Shares | | | (40 | ) | | | (102 | ) | | | (54 | ) | | | (82 | ) | | | — | |
| | | | | |
| | | Institutional Small
Cap-Mid Cap
Portfolio | | | Real Estate
Portfolio | | | Commodity
Portfolio | | | ESG Growth
Portfolio | | | Catholic SRI
Growth Portfolio | |
| Distributions | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | |
Net investment income: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (745 | ) | | $ | (1,919 | ) | | $ | (25,672 | ) | | $ | (4,367 | ) | | $ | (805 | ) |
HC Advisors Shares | | | (1 | ) | | | — | | | | (31 | ) | | | — | | | | — | |
Net realized gains: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (13,508 | ) | | $ | (3,669 | ) | | $ | — | | | $ | — | | | $ | (719 | ) |
HC Advisors Shares | | | (22 | ) | | | — | | | | — | | | | — | | | | — | |
| | | | | |
| | | International
Portfolio | | | Institutional
International
Portfolio | | | Emerging Markets
Portfolio | | | Core Fixed Income
Portfolio | | | Fixed Opportunity
Portfolio | |
| Distributions | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | |
Net investment income: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (37,147 | ) | | $ | (92,471 | ) | | $ | (37,919 | ) | | $ | (1,807 | ) | | $ | (36,991 | ) |
HC Advisors Shares | | | (52 | ) | | | (118 | ) | | | (59 | ) | | | (59 | ) | | | (36 | ) |
Net realized gains: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | — | | | $ | (3,589 | ) | | $ | — | | | $ | — | | | $ | — | |
HC Advisors Shares | | | — | | | | (6 | ) | | | — | | | | — | | | | — | |
320
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | | | | | |
| | | 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 | |
| Distributions | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | For the year
ended June 30,
2018 | |
Net investment income: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (3,895 | ) | | $ | (8,925 | ) | | $ | (7,952 | ) | | $ | (5,116 | ) | | $ | (347 | ) |
HC Advisors Shares | | | — | | | | — | | | | — | | | | — | | | | — | |
Net realized gains: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | — | | | $ | — | | | $ | (857 | ) | | $ | — | | | $ | — | |
HC Advisors Shares | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | |
| | | Intermediate
Municipal Portfolio | | | Intermediate
Municipal II
Portfolio | | | | | | | | | | |
| Distributions | | For the year ended
June 30, 2018 | | | For the year ended
June 30, 2018 | | | | | | | | | | |
Net investment income: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | (7,581 | ) | | $ | (1,642 | ) | | | | | | | | | | | | |
HC Advisors Shares | | | (26 | ) | | | (8 | ) | | | | | | | | | | | | |
Net realized gains: | | | | | | | | | | | | | | | | | | | | |
HC Strategic Shares | | $ | — | | | $ | (3 | ) | | | | | | | | | | | | |
HC Advisors Shares | | | — | | | | — | | | | | | | | | | | | | |
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 year ended June 30, 2019, 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 | |
Cadence Capital Management, LLC | | $ | 84 | | | | 0.07 | %(a)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | — | | | | 0.04 | %(b)(c) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor and Quality Strategy) | | | — | | | | 0.07 | %(b)(c) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (U.S. Multi-Factor Strategy) | | | — | | | | 0.08 | %(b)(c) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 23 | | | | 0.15 | %(d) |
Parametric Portfolio Associates, LLC (Defensive Strategy) | | | — | | | | 0.35 | %(c)(e) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | 377 | | | | 0.09 | %(g) |
| | | | | | | | |
Total | | $ | 484 | | | | 0.08 | % |
| | | | | | | | |
321
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Institutional Value Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Cadence Capital Management, LLC | | $ | 111 | | | | 0.07 | %(a)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | 186 | | | | 0.04 | %(b) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor and Quality Strategy) | | | 129 | | | | 0.07 | %(b)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (U.S. Multi-Factor Strategy) | | | — | | | | 0.08 | %(b)(c) |
Pacific Investment Management Company, LLC (RAFI U.S. Multi-Factor Strategy) | | | 187 | | | | 0.175 | %(h) |
Pacific Investment Management Company, LLC (Stock Plus) | | | — | | | | 0.25 | %(c) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 76 | | | | 0.09 | %(d) |
Parametric Portfolio Associates, LLC (Defensive Strategy) | | | — | | | | 0.35 | %(c)(e) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
| | | | | | | | |
Total | | $ | 689 | | | | 0.07 | % |
| | | | | | | | |
Growth Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Cadence Capital Management, LLC | | $ | — | | | | 0.07 | %(a)(c) |
Jennison Associates, LLC | | | 532 | | | | 0.27 | %(i) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | — | | | | 0.04 | %(b)(c) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor and Quality Strategy) | | | 59 | | | | 0.065 | %(b)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (U.S. Multi-Factor Strategy) | | | — | | | | 0.08 | %(b)(c) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 21 | | | | 0.15 | %(d) |
Parametric Portfolio Associates, LLC (Defensive Strategy) | | | — | | | | 0.35 | %(c)(e) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | 427 | | | | 0.09 | %(g) |
| | | | | | | | |
Total | | $ | 1,039 | | | | 0.13 | % |
| | | | | | | | |
322
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Institutional Growth Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Cadence Capital Management, LLC | | $ | — | | | | 0.07 | %(a)(c) |
Jennison Associates, LLC | | | 755 | | | | 0.27 | %(i) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | 164 | | | | 0.04 | %(b) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor and Quality Strategy) | | | 246 | | | | 0.065 | %(b)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (U.S. Multi-Factor Strategy) | | | 120 | | | | 0.065 | %(b)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Four Corner Factor Strategy) | | | 12 | | | | 0.065 | %(b) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (RAFI Low Volatility Factor Index) | | | 6 | | | | 0.04 | %(b)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Low Volatility Factor Index) | | | 1 | | | | 0.065 | %(b) |
Pacific Investment Management Company, LLC (RAFI U.S. Multi-Factor Strategy) | | | — | | | | 0.175 | %(c)(h) |
Pacific Investment Management Company, LLC (Stock Plus) | | | — | | | | 0.25 | %(c) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 47 | | | | 0.08 | %(d) |
Parametric Portfolio Associates, LLC (Defensive Strategy) | | | — | | | | 0.35 | %(c)(e) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | 2 | | | | 0.26 | %(f) |
| | | | | | | | |
Total | | $ | 1,353 | | | | 0.10 | % |
| | | | | | | | |
SmallCap-Mid Cap Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Advisory Research, Inc. | | $ | 136 | | | | 0.85 | % |
Ariel Investments, LLC | | | 61 | | | | 1.00 | %(j) |
Cadence Capital Management, LLC | | | — | | | | 0.07 | %(a)(c) |
Frontier Capital Management Company, LLC | | | 174 | | | | 0.45 | %(k) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | — | | | | 0.04 | %(b)(c) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor Strategy) | | | — | | | | 0.065 | %(b)(c) |
Pzena Investment Management, LLC | | | 78 | | | | 1.00 | % |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 12 | | | | 0.44 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | 24 | | | | 0.09 | %(g) |
| | | | | | | | |
Total | | $ | 485 | | | | 0.49 | % |
| | | | | | | | |
323
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Institutional SmallCap-Mid Cap Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Advisory Research, Inc. | | $ | 249 | | | | 0.85 | % |
Ariel Investments, LLC | | | — | | | | 1.00 | %(c)(j) |
Cadence Capital Management, LLC | | | — | | | | 0.07 | %(a)(c) |
Frontier Capital Management Company, LLC | | | 239 | | | | 0.45 | %(k) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Index Strategy) | | | 12 | | | | 0.04 | %(b) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Factor Strategy) | | | 18 | | | | 0.065 | %(b)† |
Pzena Investment Management, LLC | | | 86 | | | | 1.00 | % |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 13 | | | | 0.31 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
| | | | | | | | |
Total | | $ | 617 | | | | 0.40 | % |
| | | | | | | | |
Real Estate Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Cadence Capital Management, LLC | | $ | — | | | | 0.10 | %(c)(l) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | — | | | | 0.10 | %(c)(m) |
Wellington Management Company, LLP | | | 793 | | | | 0.70 | %(n) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 17 | | | | 0.19 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
| | | | | | | | |
Total | | $ | 810 | | | | 0.62 | % |
| | | | | | | | |
Commodity Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Cadence Capital Management, LLC | | $ | — | | | | 0.10 | %(c)(l) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | 332 | | | | 0.10 | %(m) |
Pacific Investment Management Company, LLC | | | — | | | | 0.25 | %(c) |
Vaughan Nelson Investment Management, L.P. | | | 9 | | | | 0.30 | %(o)† |
Wellington Management Company, LLP (Global National Resources Strategy) | | | 518 | | | | 0.61 | %(p)† |
Wellington Management Company, LLP (Commodity Futures Strategy) | | | 109 | | | | 0.75 | % |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 71 | | | | 0.09 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | — | | | | 0.09 | %(c)(g) |
| | | | | | | | |
Total | | $ | 1,039 | | | | 0.20 | % |
| | | | | | | | |
324
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
ESG Growth Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Agincourt Capital Management, LLC | | $ | — | | | | 0.12 | %(c) |
Cadence Capital Management, LLC | | | 2 | | | | 0.14 | %(q)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | 235 | | | | 0.16 | %(r) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 13 | | | | 0.33 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
| | | | | | | | |
Total | | $ | 250 | | | | 0.16 | % |
| | | | | | | | |
Catholic SRI Growth Portfolio
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Agincourt Capital Management, LLC | | $ | — | | | | 0.12 | %(c) |
Cadence Capital Management, LLC | | | 1 | | | | 0.14 | %(q)† |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | 71 | | | | 0.16 | %(r) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | — | | | | 0.15 | %(c)(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
| | | | | | | | |
Total | | $ | 72 | | | | 0.16 | % |
| | | | | | | | |
International Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Artisan Partners Limited Partnership | | $ | 1,105 | | | | 0.62 | %(s) |
Cadence Capital Management, LLC (Emerging Markets Strategy) | | | — | | | | 0.13 | %(c)(t) |
Cadence Capital Management, LLC (Developed Markets Strategy) | | | 448 | | | | 0.10 | %(u) |
Causeway Capital Management, LLC | | | 1,817 | | | | 0.45 | % |
City of London Investment Management Company, Ltd. | | | — | | | | 0.62 | %(c)(v) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Developed Markets Strategy) | | | — | | | | 0.10 | %(c)(w) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Emerging Markets Strategy) | | | — | | | | 0.13 | %(c)(x) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 33 | | | | 0.11 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | 4 | | | | 0.51 | %(f)† |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | — | | | | 0.09 | %(c)(g) |
| | | | | | | | |
Total | | $ | 3,407 | | | | 0.32 | % |
| | | | | | | | |
325
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Institutional International Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Artisan Partners Limited Partnership | | $ | 1,390 | | | | 0.62 | %(s) |
Cadence Capital Management, LLC (Emerging Markets Strategy) | | | — | | | | 0.13 | %(c)(t) |
Cadence Capital Management, LLC (Developed Markets Strategy) | | | 1,096 | | | | 0.10 | %(u) |
Causeway Capital Management, LLC | | | 2,095 | | | | 0.45 | % |
City of London Investment Management Company, Ltd. | | | 561 | | | | 0.62 | %(v) |
Lazard Asset Management LLC | | | 972 | | | | 0.36 | %(y) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Developed Markets Strategy) | | | — | | | | 0.10 | %(c)(w) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Emerging Markets Strategy) | | | — | | | | 0.13 | %(c)(x) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 48 | | | | 0.10 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | 5 | | | | 0.15 | %(f)† |
| | | | | | | | |
Total | | $ | 6,167 | | | | 0.28 | % |
| | | | | | | | |
Emerging Markets Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Mellon Investments Corporation (formerly The Boston Company Asset Management, LLC) | | $ | 2,244 | | | | 0.61 | %(z)† |
Cadence Capital Management, LLC | | | — | | | | 0.13 | %(c)(t) |
City of London Investment Management Company, Ltd. | | | — | | | | 1.00 | %(c)(aa) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | 1,087 | | | | 0.13 | %(x) |
RBC Global Asset Management (UK) Limited | | | 2,409 | | | | 0.68 | %(bb) |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 28 | | | | 0.13 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | — | | | | 0.05 | %(c)(f) |
Parametric Portfolio Associates, LLC(Tax-Managed Custom Strategy) | | | — | | | | 0.09 | %(c)(g) |
| | | | | | | | |
Total | | $ | 5,768 | | | | 0.36 | % |
| | | | | | | | |
Core Fixed Income Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Agincourt Capital Management, LLC | | $ | 21 | | | | 0.08 | % |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Mortgage and Asset-Backed Strategy) | | | 23 | | | | 0.06 | % |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Corporate Strategy) | | | — | | | | 0.15 | %(c) |
| | | | | | | | |
Total | | $ | 44 | | | | 0.07 | % |
| | | | | | | | |
326
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Fixed Opportunity Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Fort Washington Investment Advisors, Inc. | | $ | 871 | | | | 0.20 | %(cc) |
City of London Investment Management Company, Ltd. | | | — | | | | 0.45 | %(c) |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | — | | | | 0.25 | %(c) |
Western Asset Management Company, Ltd. | | | 1,276 | | | | 0.75 | % |
Parametric Portfolio Associates, LLC (Liquidity Strategy) | | | 22 | | | | 0.14 | %(d) |
Parametric Portfolio Associates, LLC (Targeted Strategy) | | | 20 | | | | 0.06 | %(f) |
| | | | | | | | |
Total | | $ | 2,189 | | | | 0.33 | % |
| | | | | | | | |
U.S. Government Fixed Income Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | $ | 161 | | | | 0.06 | % |
| | | | | | | | |
Inflation Protected Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | $ | 150 | | | | 0.04 | %(dd) |
| | | | | | | | |
U.S. Corporate Fixed Income Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Agincourt Capital Management, LLC | | $ | 231 | | | | 0.08 | % |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | | — | | | | 0.15 | %(c) |
| | | | | | | | |
Total | | $ | 231 | | | | 0.08 | % |
| | | | | | | | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | | $ | 121 | | | | 0.06 | % |
| | | | | | | | |
327
HC CAPITAL TRUST
Notes to Financial Statements (continued) — June 30, 2019
Short-Term Municipal Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Breckinridge Capital Advisors, Inc. | | $ | 115 | | | | 0.125 | % |
| | | | | | | | |
Intermediate Municipal Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Mellon Investments Corporation (formerly Standish Mellon Asset Management Company LLC) | | $ | 587 | | | | 0.17 | %(ee) |
City of London Investment Management Company, Ltd. | | | 146 | | | | 0.45 | %(ff) |
| | | | | | | | |
Total | | $ | 733 | | | | 0.19 | % |
| | | | | | | | |
Intermediate Municipal II Portfolio:
| | | | | | | | |
Specialist Manager | | Amount
Earned
(000) | | | Fee | |
Breckinridge Capital Advisors, Inc. | | $ | 95 | | | | 0.125 | % |
City of London Investment Management Company, Ltd. | | | — | | | | 0.45 | %(c)(gg) |
| | | | | | | | |
Total | | $ | 95 | | | | 0.125 | % |
| | | | | | | | |
| † | As of June 30, 2019, no assets were allocated. |
| (a) | 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 that 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence using these strategies in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
| (b) | Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (“Mellon”) receives a fee for assets allocated to an Index Strategy, for so long as the Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.04% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawals or redemptions reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.065%. Index Strategy shall mean a portfolio wherein the Portfolio Manager seeks to approximate, over the long term, the performance of a specific market index. |
For assets allocated to a Factor Strategy, for so long as the Combined Assets are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawal or redemption reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.075%. Factor Strategy shall mean a portfolio wherein the Portfolio Manager seeks to implement a strategy developed by Hirtle Callaghan & Co. or an affiliate with the objective of obtaining exposure to one or more factors such as value or quality within the U.S. equity markets.
For assets allocated to a U.S. Multi-Factor Strategy, for so long as the Combined Assets are greater than $2 billion, the fee shall be at the annual rate of 0.08% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawal or redemption reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.10%. U.S. Multi-Factor Strategy shall mean a portfolio wherein the Portfolio Manager seeks to implement a proprietary strategy developed by the Portfolio Manager that seeks to obtain a targeted exposure to multi-factor equity model factors such as value, momentum, and low volatility within the U.S. equity markets.
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Relating to an Index License Agreement pertaining to the usage of the RAFI Low Volatility Factor U.S. Index name, Research Affiliates, LLC received an annual licensing fee, calculated daily and payable quarterly, in arrears, based on the average daily net assets of the Account, in accordance with the following schedule: 0.045% of the first $5 billion of the average daily net assets, 0.040% of the next $5 billion of the average daily net assets, and 0.035% of the average daily net assets exceeding $10 billion. The agreement was active for the period February 26, 2019 to June 20, 2019.
Prior to December 12, 2018, Mellon’s Strategy “Quality” received a fee, which was calculated daily and payable monthly in arrears. For so long as Combined Assets were greater than $2 billion, the fee was at the annual rate of 0.065% of the average daily net assets of that portion of the Portfolio managed by Mellon. If the Combined Assets were reduced to $2 billion or less due to redemptions, the fee was 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon using these strategies in other investment advisory accounts for which HC Capital Solutions serves as investment adviser.
| (c) | Specialist Manager approved by the Board but a strategy to which no assets were allocated during the year ended June 30, 2019. |
| (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. One Twelfth 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) | 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.
| (f) | 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. |
| (g) | With respect to itsTax-Managed Custom Strategy, Parametric receives a fee, which shall be calculated daily and payable in arrears at the annual rate of 0.10% of the first $250 million of the CombinedTax-Managed Custom Strategy Assets (as defined below); 0.09% of the next $250 million of the CombinedTax-Managed Custom Strategy Assets; 0.08% of the next $500 million of the CombinedTax-Managed Custom Strategy Assets; and 0.07% of the CombinedTax-Managed Custom Strategy Assets over $1 billion. |
“CombinedTax-Managed Custom Strategy Assets” shall man the sum of: the net assets of that portion of each of the other Portfolios of the Trust allocated to Parametric from time to time for investment in theirTax-Management Custom Core Strategy.
If, at the close of business on September 30, 2019, the CombinedTax-Managed Custom Strategy Assets are less than $500 million, the fee for the first $250 million shall be permanently increased to 0.13%.
| (h) | For its services with respect to the RAFI U.S. Multi-Factor Strategy, Pacific Investment Management Company, LLC (“PIMCO”) receives an annual fee from each Portfolio at the annual rate of 0.175% of the first $600 million of the Combined RAFI U.S. Multi-Factor Strategy Assets (as defined below); 0.15% on the next $700 million of Combined RAFI U.S. Multi-Factor Strategy Assets; and 0.125% on Combined RAFI U.S. Multi-Factor Strategy Assets over $1.3 billion. Should these assets not reach or fall below $600 million, PIMCO’s fee will be calculated at an annual rate of 0.20%; however, for the twelve months’ period ending December 19, 2019, this fee for the minimum asset requirement is contractually reduced to 0.175% of each Portfolio’s average daily net assets of the Account. Fees are payable monthly in arrears and are computed based on the combined market value of the Combined Assets as reported on the custodian’s statement at the end of the billing period. |
Combined RAFI U.S. Multi-Factor Strategy Assets shall mean the sum of: the net assets of the Institutional Value Portfolio managed by PIMCO and the net assets of the Institutional Growth Portfolio managed by PIMCO using the PIMCO RAFI Dynamic Multi-Factor U.S. Equity Strategy.
PIMCO utilized the services of Parametric as an accountsub-advisor to assist with the implementation of the Account’s investment strategy. Parametric received a fee for these services paid by PIMCO.
| (i) | Jennison Associates LLC (“Jennison”) is entitled to receive an annual fee of no more than 0.30% of average daily net assets of that portion of the Growth Portfolio and Institutional Growth Portfolio allocated to Jennison (the “Jennison Accounts”). While the rate at which Jennison’s fee for managing the Portfolios will not exceed 0.30%, the fee may decrease based on the aggregate market value of the Jennison Accounts and certain other assets managed by Jennison (which may pay fees exceeding 0.30%) for the benefit of certain investors who are clients of the Trust’s primary adviser at the following annual rates: |
— 0.75% on the first $10 million;
— 0.50% on the next $30 million;
— 0.35% on the next $25 million;
— 0.25% on the next $335 million;
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— 0.22% on the next $600 million;
— 0.20% on the next $4 billion; and
— 0.25% on the balance
| (j) | For its services to the SmallCap-Mid Cap Portfolio and the Institutional SmallCap-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 Combined Assets, 0.75% of the next $10 million of Combined Assets, and 0.50% of Combined Assets exceeding $20 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Ariel in the SmallCap-Mid Cap Portfolio, the Institutional SmallCap-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 the 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 SmallCap-Mid Cap Portfolio, the net assets managed by Frontier in the Institutional SmallCap-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 the 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 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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 the 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 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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. |
“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”) received a fee, which was calculated daily and payable quarterly, at the annual rate of 0.35% of the first $25 million of the Combined Assets (as defined below), 0.25% of the next $75 million of Combined Assets, and 0.20% of 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 received a fee, which was 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 were present in the GNRS and 0.85% if less than $150 million in assets were present in the GNRS. Effective November 1, 2017 through October 31, 2018, Wellington voluntarily waived fees in excess of 0.25% of the average daily net assets in the Portfolio. |
| (q) | For its services to the Portfolio, Cadence received 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 was 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.
Cadence’s Portfolio Management Agreements with the Portfolios were terminated on July 6, 2018.
| (r) | Mellon is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.16% of the average daily net assets of the Account. Mellon voluntarily waived 0.06% of the annual fixed fee calculated on daily net assets of the Account for the period June 20, 2019 through June 30, 2019. |
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| (s) | 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.
| (t) | 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 the 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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.
| (u) | 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 the Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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.
| (v) | 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.
| (w) | 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 the 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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.
| (x) | 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 the 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, SmallCap-Mid Cap Portfolio, Institutional SmallCap-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.
| (y) | 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% of the average daily net assets exceeding $75 million of that portion of the Portfolio managed by Lazard. |
| (z) | Mellon Investments Corporation (formerly The Boston Company Asset Management, LLC) (“Mellon-Boston”) received 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 Mellon-Boston. |
Mellon-Boston’s Portfolio Management Agreement was terminated effective March 27, 2019.
| (aa) | 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 Combined Assets; and 0.50% of 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.
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Notes to Financial Statements (continued) — June 30, 2019
| (bb) | 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 the Combined Assets (as defined below); 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.
| (cc) | 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.
| (dd) | 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. |
| (ee) | Mellon Investments Corporation (formerly Standish Mellon Asset Management Company, LLC) (“Mellon-Standish”) 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. Mellon-Standish 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 Mellon-Standish in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Mellon-Standish for the benefit of certain investors who are clients of the Trust’s primary adviser.
| (ff) | CLIM is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.45% of the average daily net assets of the Account. Prior to July 27, 2018, CLIM was entitled to receive a fee based on the average net assets of that portion of each affected Portfolio’s assets allocated to CLIM by the Adviser, at the following rates: 0.25% of the first $100 million of the Combined Assets (as defined below); and 0.15% of the Combined Assets exceeding $100 million. |
“Combined Assets” shall mean the sum of all assets managed in this strategy for clients of the Trust’s primary adviser and certain of its affiliates. The maximum fee is 0.20% regardless of asset levels.
| (gg) | CLIM is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.45% of the average daily net assets of the Account. Prior to July 27, 2018, CLIM was entitled to receive a fee, which was payable monthly in arrears at the annual rate of 0.125% of the average daily net assets of the Account. |
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. (“Citi”) 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. Citi receives additional fees paid by the Trust for compliance services, regulatory reporting services and reimbursement of certain expenses.
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.
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Notes to Financial Statements (continued) — June 30, 2019
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 Rule12b-1 under the 1940 Act, the Adviser is entitled to receive a fee of up to 0.25% annually of the average daily net assets attributable to the HC Advisors Shares. Currently, the Adviser is voluntarily waiving all fees associated with the Distribution Plan, and there is no current intention to collect such a fee.
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. Alaric receives an annual fee of $160,000 for performing services listed under its agreement with the Trust.
The Portfolios may use related party broker-dealers. For the year ended June 30, 2019, the following Portfolio incurred brokerage commissions with broker-dealers affiliated with the Specialist Managers as follows:
| | | | |
Portfolio | | Commissions
Amount
(000) | |
Emerging Markets Portfolio | | $ | 23 | |
The Portfolios are permitted to purchase and sell securities (“cross trade”) from and to other Portfolios within the Trust pursuant to “Cross-Trading” Procedures adopted by the Trust’s Board of Trustees. These procedures have been designed to ensure that any cross trade of securities by the respective Portfolio from or to another Portfolio that is or could be considered an affiliate of the Portfolio under certain limited circumstances by virtue of having a common investment adviser, common Officer, or common Trustee complies with Rule17a-7 of the 1940 Act. Further, as defined under these procedures, each cross trade is executed at the current market price. Pursuant to these procedures, for the year ended June 30, 2019, the Portfolios engaged in the following cross trades, which resulted in the following net realized gains (losses) (amounts in thousands):
| | | | | | | | | | | | |
Portfolio | | Purchases | | | Sales | | | Net Realized
Gains/(Losses) | |
|
Institutional Value Portfolio | | $ | 55,685 | | | $ | 51,501 | | | $ | 12,994 | |
Institutional Growth Portfolio | | | 53,608 | | | | 54,480 | | | | (1,167 | ) |
Institutional SmallCap-Mid Cap Portfolio | | | 633 | | | | 3,945 | | | | 1,389 | |
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 year ended June 30, 2019 were as follows (amounts in thousands):
| | | | | | | | |
Portfolio | | Purchases | | | Sales | |
Value Portfolio | | $ | 411,596 | | | $ | 437,620 | |
Institutional Value Portfolio | | | 462,667 | | | | 360,633 | |
Growth Portfolio | | | 320,074 | | | | 405,576 | |
Institutional Growth Portfolio | | | 953,786 | | | | 858,911 | |
SmallCap-Mid Cap Portfolio | | | 73,633 | | | | 79,066 | |
Institutional SmallCap-Mid Cap Portfolio | | | 76,171 | | | | 92,221 | |
Real Estate Portfolio | | | 54,509 | | | | 65,417 | |
Commodity Portfolio | | | 59,591 | | | | 564,041 | |
ESG Growth Portfolio | | | 251,212 | | | | 272,029 | |
Catholic SRI Growth Portfolio | | | 96,731 | | | | 78,850 | |
International Portfolio | | | 550,854 | | | | 703,915 | |
Institutional International Portfolio | | | 774,828 | | | | 1,164,418 | |
Emerging Markets Portfolio | | | 764,579 | | | | 976,826 | |
Core Fixed Income Portfolio | | | 9,420 | | | | 10,676 | |
Fixed Opportunity Portfolio | | | 306,278 | | | | 443,601 | |
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Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | |
Portfolio | | Purchases | | | Sales | |
U.S. Corporate Fixed Income Portfolio | | $ | 84,218 | | | $ | 69,774 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 3,339 | | | | 3,150 | |
Short-Term Municipal Portfolio | | | 40,900 | | | | 12,807 | |
Intermediate Municipal Portfolio | | | 100,276 | | | | 99,416 | |
Intermediate Municipal II Portfolio | | | 12,773 | | | | 14,063 | |
The aggregate cost of purchases and proceeds from sales of long-term U.S. government securities for the year ended June 30, 2019 were as follows (amounts in thousands):
| | | | | | | | |
Portfolio | | Purchases | | | Sales | |
Core Fixed Income Portfolio | | $ | 11,388 | | | $ | 15,529 | |
Fixed Opportunity Portfolio | | | 7,396 | | | | 1,281 | |
U.S. Government Fixed Income Portfolio | | | 141,135 | | | | 83,950 | |
Inflation Protected Portfolio | | | 74,517 | | | | 127,629 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 31,225 | | | | 23,094 | |
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 than50-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 themore-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 2016 to 2018, 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
Investments | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
(Depreciation) | | | Net Tax
Unrealized
Appreciation/
(Depreciation) | |
Value Portfolio | | $ | 433,985 | | | $ | 151,075 | | | $ | (2,269 | ) | | $ | 148,806 | |
Institutional Value Portfolio | | | 1,364,292 | | | | 150,555 | | | | (42,317 | ) | | | 108,238 | |
Growth Portfolio | | | 402,159 | | | | 400,992 | | | | (2,906 | ) | | | 398,086 | |
Institutional Growth Portfolio | | | 1,159,028 | | | | 384,115 | | | | (16,995 | ) | | | 367,120 | |
Small Cap Mid-Cap Portfolio | | | 71,819 | | | | 29,185 | | | | (5,496 | ) | | | 23,689 | |
Institutional Small Cap-Mid Cap Portfolio | | | 126,391 | | | | 35,392 | | | | (13,743 | ) | | | 21,649 | |
Real Estate Portfolio | | | 92,073 | | | | 28,383 | | | | (637 | ) | | | 27,746 | |
ESG Growth Portfolio | | | 141,040 | | | | 9,285 | | | | (2,588 | ) | | | 6,697 | |
Catholic SRI Growth Portfolio | | | 48,693 | | | | 2,540 | | | | (602 | ) | | | 1,938 | |
International Portfolio | | | 779,138 | | | | 149,817 | | | | (48,032 | ) | | | 101,785 | |
Institutional International Portfolio | | | 1,759,703 | | | | 250,282 | | | | (170,398 | ) | | | 79,884 | |
Emerging Markets Portfolio | | | 1,337,990 | | | | 200,720 | | | | (92,199 | ) | | | 108,521 | |
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Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | |
Portfolio | | Tax Cost of
Investments | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
(Depreciation) | | | Net Tax
Unrealized
Appreciation/
(Depreciation) | |
Core Fixed Income Portfolio | | $ | 67,640 | | | $ | 2,279 | | | $ | (202 | ) | | $ | 2,077 | |
Fixed Opportunity Portfolio | | | 579,797 | | | | 27,033 | | | | (6,886 | ) | | | 20,147 | |
U.S. Government Fixed Income Portfolio | | | 293,437 | | | | 11,294 | | | | (1,021 | ) | | | 10,273 | |
Inflation Protected Portfolio | | | 348,684 | | | | 8,901 | | | | (913 | ) | | | 7,988 | |
U.S. Corporate Fixed Income Portfolio | | | 295,804 | | | | 13,743 | | | | (165 | ) | | | 13,578 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 243,565 | | | | 2,627 | | | | (796 | ) | | | 1,831 | |
Short-Term Municipal Portfolio | | | 107,980 | | | | 1,306 | | | | (3 | ) | | | 1,303 | |
Intermediate Municipal Portfolio | | | 384,309 | | | | 10,360 | | | | (4,436 | ) | | | 5,924 | |
Intermediate Municipal II Portfolio | | | 76,848 | | | | 2,792 | | | | (2 | ) | | | 2,790 | |
The tax cost of investments includes the cost of securities, proceeds received from TBA sales commitments and any upfront premiums paid or received on derivatives, as applicable. The tax unrealized appreciation/depreciation includes securities, TBA sales commitments and derivatives that are not considered realized for tax purposes, as applicable.
The differences between book-basis andtax-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, derivatives, and anin-kind purchases by investors that, for tax purposes, created a controlling interest in a Portfolio.
B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal years ended June 30, 2019 and June 30, 2018 were as follows (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Distributions Paid From: | | | | | | | | | | | | | |
Year Ended June 30, 2019 | | Ordinary
Income | | | Net Long
Term Gains | | | Total
Taxable
Distributions | | | Total
Taxable
Distributions | | | Tax-Exempt
Distributions | | | Total
Distributions
Paid* | |
Value Portfolio | | $ | 11,937 | | | $ | 31,074 | | | $ | 43,011 | | | $ | 43,011 | | | $ | — | | | $ | 43,011 | |
Institutional Value Portfolio | | | 33,807 | | | | 52,349 | | | | 86,156 | | | | 86,156 | | | | — | | | | 86,156 | |
Growth Portfolio | | | 10,115 | | | | 43,464 | | | | 53,579 | | | | 53,579 | | | | — | | | | 53,579 | |
Institutional Growth Portfolio | | | 21,091 | | | | 79,726 | | | | 100,817 | | | | 100,817 | | | | — | | | | 100,817 | |
Small Cap–Mid Cap Portfolio | | | 368 | | | | 8,812 | | | | 9,180 | | | | 9,180 | | | | — | | | | 9,180 | |
Institutional Small Cap–Mid Cap Portfolio | | | 5,066 | | | | 28,398 | | | | 33,464 | | | | 33,464 | | | | — | | | | 33,464 | |
Real Estate Portfolio | | | 2,571 | | | | 1,381 | | | | 3,952 | | | | 3,952 | | | | — | | | | 3,952 | |
ESG Growth Portfolio | | | 4,165 | | | | 4,748 | | | | 8,913 | | | | 8,913 | | | | — | | | | 8,913 | |
Catholic SRI Growth Portfolio | | | 1,438 | | | | 2,302 | | | | 3,740 | | | | 3,740 | | | | — | | | | 3,740 | |
International Portfolio | | | 35,543 | | | | — | | | | 35,543 | | | | 35,543 | | | | — | | | | 35,543 | |
Institutional International Portfolio | | | 105,857 | | | | 69,678 | | | | 175,535 | | | | 175,535 | | | | — | | | | 175,535 | |
Emerging Markets Portfolio | | | 29,774 | | | | — | | | | 29,774 | | | | 29,774 | | | | — | | | | 29,774 | |
Core Fixed Income Portfolio | | | 1,834 | | | | — | | | | 1,834 | | | | 1,834 | | | | — | | | | 1,834 | |
Fixed Opportunity Portfolio | | | 38,447 | | | | — | | | | 38,447 | | | | 38,447 | | | | — | | | | 38,447 | |
U.S. Government Fixed Income Portfolio | | | 5,868 | | | | — | | | | 5,868 | | | | 5,868 | | | | — | | | | 5,868 | |
Inflation Protected Portfolio | | | 9,115 | | | | — | | | | 9,115 | | | | 9,115 | | | | — | | | | 9,115 | |
U.S. Corporate Fixed Income Portfolio | | | 10,119 | | | | — | | | | 10,119 | | | | 10,119 | | | | — | | | | 10,119 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 5,998 | | | | — | | | | 5,998 | | | | 5,998 | | | | — | | | | 5,998 | |
Short-Term Municipal Portfolio | | | 82 | | | | — | | | | 82 | | | | 82 | | | | 1,331 | | | | 1,413 | |
Intermediate Municipal Portfolio | | | 98 | | | | — | | | | 98 | | | | 98 | | | | 8,495 | | | | 8,593 | |
Intermediate Municipal II Portfolio | | | 55 | | | | 107 | | | | 162 | | | | 162 | | | | 1,619 | | | | 1,781 | |
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Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Distributions Paid From: | | | | | | | | | | | | | | | | |
Year Ended June 30, 2018 | | 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 | | $ | 19,780 | | | $ | 21,891 | | | $ | 41,671 | | | $ | — | | | $ | 41,671 | | | $ | — | | | $ | 41,671 | |
Institutional Value Portfolio | | | 41,677 | | | | 30,659 | | | | 72,336 | | | | — | | | | 72,336 | | | | — | | | | 72,336 | |
Growth Portfolio | | | 10,120 | | | | 35,974 | | | | 46,094 | | | | — | | | | 46,094 | | | | — | | | | 46,094 | |
Institutional Growth Portfolio | | | 21,304 | | | | 32,991 | | | | 54,295 | | | | — | | | | 54,295 | | | | — | | | | 54,295 | |
Small Cap–Mid Cap Portfolio | | | 392 | | | | — | | | | 392 | | | | — | | | | 392 | | | | — | | | | 392 | |
Institutional SmallCap-Mid Cap Portfolio | | | 1,697 | | | | 12,579 | | | | 14,276 | | | | — | | | | 14,276 | | | | — | | | | 14,276 | |
Real Estate Portfolio | | | 1,879 | | | | 3,709 | | | | 5,588 | | | | — | | | | 5,588 | | | | — | | | | 5,588 | |
ESG Growth Portfolio | | | 4,367 | | | | — | | | | 4,367 | | | | — | | | | 4,367 | | | | — | | | | 4,367 | |
Catholic SRI Growth Portfolio | | | 1,216 | | | | 308 | | | | 1,524 | | | | — | | | | 1,524 | | | | — | | | | 1,524 | |
International Portfolio | | | 37,199 | | | | — | | | | 37,199 | | | | — | | | | 37,199 | | | | — | | | | 37,199 | |
Institutional International Portfolio | | | 96,184 | | | | — | | | | 96,184 | | | | — | | | | 96,184 | | | | — | | | | 96,184 | |
Emerging Markets Portfolio | | | 37,447 | | | | — | | | | 37,447 | | | | 531 | | | | 37,978 | | | | — | | | | 37,978 | |
Core Fixed Income Portfolio | | | 1,868 | | | | — | | | | 1,868 | | | | — | | | | 1,868 | | | | — | | | | 1,868 | |
Fixed Opportunity Portfolio | | | 37,027 | | | | — | | | | 37,027 | | | | — | | | | 37,027 | | | | — | | | | 37,027 | |
U.S. Government Fixed Income Portfolio | | | 3,889 | | | | — | | | | 3,889 | | | | — | | | | 3,889 | | | | — | | | | 3,889 | |
Inflation Protected Portfolio | | | 8,494 | | | | — | | | | 8,494 | | | | — | | | | 8,494 | | | | — | | | | 8,494 | |
U.S. Corporate Fixed Income Portfolio | | | 8,055 | | | | 735 | | | | 8,790 | | | | — | | | | 8,790 | | | | — | | | | 8,790 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 5,111 | | | | — | | | | 5,111 | | | | — | | | | 5,111 | | | | — | | | | 5,111 | |
Short-Term Municipal Portfolio | | | 42 | | | | — | | | | 42 | | | | — | | | | 42 | | | | 303 | | | | 345 | |
Intermediate Municipal Portfolio | | | 130 | | | | — | | | | 130 | | | | — | | | | 130 | | | | 7,477 | | | | 7,607 | |
Intermediate Municipal II Portfolio | | | 38 | | | | 3 | | | | 41 | | | | — | | | | 41 | | | | 1,612 | | | | 1,653 | |
| * | 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 Distributable Earnings
As of June 30, 2019, the components of distributable 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 | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | (9,953 | ) | | $ | 148,806 | | | $ | 138,853 | |
Institutional Value Portfolio | | | 3,137 | | | | 45,329 | | | | 48,466 | | | | — | | | | — | | | | 108,238 | | | | 156,704 | |
Growth Portfolio | | | 232 | | | | 23,902 | | | | 24,134 | | | | — | | | | — | | | | 398,086 | | | | 422,220 | |
Institutional Growth Portfolio | | | 11,847 | | | | 180,737 | | | | 192,584 | | | | — | | | | — | | | | 367,120 | | | | 559,704 | |
Small Cap–Mid Cap Portfolio | | | — | | | | 2,201 | | | | 2,201 | | | | — | | | | — | | | | 23,687 | | | | 25,888 | |
Institutional Small Cap–Mid Cap Portfolio | | | — | | | | 6,371 | | | | 6,371 | | | | — | | | | — | | | | 21,649 | | | | 28,020 | |
Real Estate Portfolio | | | 424 | | | | 4,468 | | | | 4,892 | | | | — | | | | — | | | | 27,744 | | | | 32,636 | |
ESG Growth Portfolio | | | 299 | | | | 6,922 | | | | 7,221 | | | | — | | | | — | | | | 6,693 | | | | 13,914 | |
Catholic SRI Growth Portfolio | | | — | | | | 1,547 | | | | 1,547 | | | | — | | | | — | | | | 1,938 | | | | 3,485 | |
International Portfolio | | | 1,187 | | | | — | | | | 1,187 | | | | — | | | | (35,906 | ) | | | 101,734 | | | | 67,015 | |
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Notes to Financial Statements (continued) — June 30, 2019
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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) | |
Institutional International Portfolio | | $ | 1,383 | | | $ | — | | | $ | 1,383 | | | $ | — | | | $ | (5,818 | ) | | $ | 80,288 | | | $ | 75,853 | |
Emerging Markets Portfolio | | | — | | | | — | | | | — | | | | — | | | | (111,220 | ) | | | 105,794 | | | | (5,426 | ) |
Core Fixed Income Portfolio | | | 28 | | | | — | | | | 28 | | | | (1 | ) | | | (559 | ) | | | 2,078 | | | | 1,546 | |
Fixed Opportunity Portfolio | | | 1,949 | | | | — | | | | 1,949 | | | | — | | | | (50,227 | ) | | | 20,244 | | | | (28,034 | ) |
U.S. Government Fixed Income Portfolio | | | 263 | | | | — | | | | 263 | | | | (98 | ) | | | (753 | ) | | | 10,272 | | | | 9,684 | |
Inflation Protected Portfolio | | | 2,811 | | | | — | | | | 2,811 | | | | (347 | ) | | | (2,258 | ) | | | 7,988 | | | | 8,194 | |
U.S. Corporate Fixed Income Portfolio | | | 402 | | | | — | | | | 402 | | | | (146 | ) | | | (1,016 | ) | | | 13,578 | | | | 12,818 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 246 | | | | — | | | | 246 | | | | (93 | ) | | | (9,801 | ) | | | 1,831 | | | | (7,817 | ) |
Short-Term Municipal Portfolio | | | 34 | | | | — | | | | 34 | | | | (4 | ) | | | (5 | ) | | | 1,303 | | | | 1,328 | |
Intermediate Municipal Portfolio | | | 85 | | | | — | | | | 85 | | | | (21 | ) | | | — | | | | 5,924 | | | | 5,988 | |
Intermediate Municipal II Portfolio | | | 45 | | | | 9 | | | | 54 | | | | (5 | ) | | | — | | | | 2,790 | | | | 2,839 | |
D. Capital Loss Carryforwards
As of their tax year ended June 30, 2019, the following Portfolios had capital loss carryforwards (“CLCFs”) not subject to expiration as summarized below (amounts in thousands):
| | | | | | | | | | | | |
Portfolio | | Short-Term
Amount | | | Long-Term
Amount | | | Total | |
International Portfolio | | $ | 35,906 | | | $ | — | | | $ | 35,906 | |
Emerging Markets Portfolio | | | 42,418 | | | | 68,704 | | | | 111,122 | |
Core Fixed Income Portfolio | | | 268 | | | | 291 | | | | 559 | |
Fixed Opportunity Portfolio | | | 2,242 | | | | 47,985 | | | | 50,227 | |
U.S. Government Fixed Income Portfolio | | | 172 | | | | 581 | | | | 753 | |
Inflation Protected Portfolio | | | 1,397 | | | | 861 | | | | 2,258 | |
U.S. Corporate Fixed Income Portfolio | | | 457 | | | | 559 | | | | 1,016 | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 2,039 | | | | 7,762 | | | | 9,801 | |
Short-Term Municipal Portfolio | | | 3 | | | | 2 | | | | 5 | |
E. Deferred Losses
Under current tax law, capital losses and specified ordinary losses realized after October 31 or non-specified ordinary losses realized 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 ended June 30, 2020 (amounts in thousands):
| | | | | | | | |
Portfolio | | Post-October
Capital Losses | | | Late Year
Ordinary
Losses | |
Value Portfolio | | $ | 9,953 | | | $ | — | |
Institutional International Portfolio | | | 5,818 | | | | — | |
Emerging Markets Portfolio | | | — | | | | 98 | |
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Notes to Financial Statements (continued) — June 30, 2019
F. 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, 2018 was $365,180, resulting in accumulated net unrealized appreciation of $29,557, consisting of $54,248 in gross unrealized appreciation and $24,691 in gross unrealized depreciation (amounts in thousands). The tax cost of investments includes the cost of securities and any upfront premiums paid or received on derivatives. The tax unrealized appreciation/depreciation includes securities and derivatives that are not considered realized for tax purposes. 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, derivatives, and investments in wholly-owned Cayman Islands exempted companies.
The tax characteristics of distributions paid during the tax years ended December 31, 2018 and December 31, 2017 were as follows (amounts in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Distributions Paid From: | | | | | | | | | | | | | | | | |
Year Ended December 31, 2018 | | Ordinary
Income | | | Net Long
Term Gains | | | Total
Taxable
Distributions | | | In Excess of
Net Investment
Income | | | Tax Return
of Capital | | | Tax-Exempt
Distributions | | | Total
Distributions
Paid* | |
Commodity Portfolio | | $ | 22,750 | | | $ | — | | | $ | 22,750 | | | $ | 217 | | | $ | — | | | $ | — | | | $ | 22,967 | |
| | | | | | | |
Year Ended December 31, 2017 | | | | | | | | | | | | | | | | | | | | | |
Commodity Portfolio | | $ | 21,235 | | | $ | — | | | $ | 21,235 | | | $ | — | | | $ | 171 | | | | — | | | $ | 21,406 | |
| * | 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, 2018, the components of distributable 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 | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | (97,304 | ) | | $ | 124,090 | | | $ | 26,786 | |
Amounts designated as “—” are $0 or have been rounded to $0.
As of December 31, 2018, the Commodity Portfolio had the following CLCFs not subject to expiration (amounts in thousands):
| | | | | | | | | | | | |
Portfolio | | Short-Term
Amount | | | Long-Term
Amount | | | Total | |
Commodity Portfolio | | $ | 19,848 | | | $ | 77,060 | | | $ | 96,908 | |
G. 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, differing treatment of income relating to swap agreements and investments in wholly-owned Cayman Islands exempted companies), such amounts are reclassified within the capital accounts based on their federal tax-basis treatment; temporary differences do not require reclassifications.
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.
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Notes to Financial Statements (continued) — June 30, 2019
Credit Risk — Credit risk is the risk that an issuer (or in the case of certain securities, the guarantor or counterparty) will be unable to make principal and interest payments when due. The creditworthiness of an issuer may be affected by a number of factors, including the financial condition of the issuer (or guarantor) and, in the case of foreign issuers, the financial condition of the region.
Foreign Investment Risk — Investments in securities issued bynon-U.S. companies andnon-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 thannon-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 | |
Institutional Growth Portfolio | | | 1 | | | | — | |
SmallCap-Mid Cap Portfolio | | | 1 | | | | — | |
Institutional SmallCap-Mid Cap Portfolio | | | 1 | | | | — | |
Real Estate Portfolio | | | 1 | | | | — | |
Commodity Portfolio | | | 1 | | | | — | |
ESG Growth Portfolio | | | — | | | | 1 | |
Catholic SRI Growth Portfolio | | | 1 | | | | 2 | |
U.S. Government Fixed Income Portfolio | | | 1 | | | | — | |
8. SUBSEQUENT EVENTS.
Management has evaluated subsequent events through the date these financial statements were issued. Based on the evaluation, no additional disclosures or adjustments were required to the financial statements as of June 30, 2019.
339
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
TotheBoard of Trustees of HC Capital Trust andShareholders of
| | |
| The Value Equity Portfolio | | The Institutional International Equity Portfolio |
| The Institutional Value Equity Portfolio | | The Emerging Markets Portfolio |
| The Growth Equity Portfolio | | The Core Fixed Income Portfolio |
| The Institutional Growth Equity Portfolio | | The Fixed Income Opportunity Portfolio |
| The Small Capitalization–Mid Capitalization Equity Portfolio | | The U.S. Government Fixed Income Securities Portfolio |
| The Institutional Small Capitalization–Mid Capitalization Equity Portfolio | | The Inflation Protected Securities Portfolio |
| The Real Estate Securities Portfolio | | The U.S. Corporate Fixed Income Securities Portfolio |
| The Commodity Returns Strategy Portfolio | | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio |
| The ESG Growth Portfolio | | The Short-Term Municipal Bond Portfolio |
| The Catholic SRI Growth Portfolio | | The Intermediate Term Municipal Bond Portfolio |
| The International Equity Portfolio | | The Intermediate Term Municipal Bond II Portfolio |
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, ofThe Value Equity Portfolio, The Institutional Value Equity Portfolio, The Growth Equity Portfolio, The Institutional Growth Equity Portfolio, The SmallCapitalization-Mid Capitalization Equity Portfolio, The Institutional SmallCapitalization-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, and The Intermediate Term Municipal Bond II Portfolio (constituting HC Capital Trust, hereafter collectively referred to as the “Funds”) as of June 30, 2019, the related statements of operationsfor the year ended June 30, 2019, the statements of changes in net assets for each of the two years in the period endedJune 30, 2019, including the related notes,and the financial highlights for each of the periods indicated therein(collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as ofJune 30, 2019, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended June 30, 2019 and each of the financial highlights for each of the periods indicated thereinin conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
340
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of June 30, 2019 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Columbus, Ohio
August 23, 2019
We have served as the auditor of one or more investment companies in HC Capital Trust since 1995.
341
HC CAPITAL TRUST
Additional Information — June 30, 2019 (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 calling800-242-9596 and on the Securities and Exchange Commission’s (“SEC”) website athttp://www.sec.gov.
2. SHAREHOLDER VOTES. During the period ending June 30, 2019, 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 January 1, 2019 through June 30, 2019.
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.
| | | | | | | | | | | | | | | | | | | | |
Portfolio | | | | | | Beginning
Account
Value
January 1, 2019 | | | Ending
Account
Value
June 30, 2019 | | | Expenses
Paid
During
Period1 | | | Annualized
Expense
Ratio | |
Value Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,183.70 | | | $ | 1.14 | | | | 0.21 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.75 | | | $ | 1.05 | | | | 0.21 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,182.70 | | | $ | 0.76 | | | | 0.21 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.75 | | | $ | 1.05 | | | | 0.21 | % |
| | | | | | |
Institutional Value Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,170.50 | | | $ | 1.02 | | | | 0.19 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.85 | | | $ | 0.95 | | | | 0.19 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,120.30 | | | $ | 0.73 | | | | 0.19 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.85 | | | $ | 0.95 | | | | 0.19 | % |
| | | | | | |
Growth Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,205.20 | | | $ | 1.37 | | | | 0.25 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.55 | | | $ | 1.25 | | | | 0.25 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,189.70 | | | $ | 0.91 | | | | 0.25 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.55 | | | $ | 1.25 | | | | 0.25 | % |
| | | | | | |
Institutional Growth Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,195.30 | | | $ | 1.20 | | | | 0.22 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.70 | | | $ | 1.10 | | | | 0.22 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,139.70 | | | $ | 0.82 | | | | 0.21 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.75 | | | $ | 1.05 | | | | 0.21 | % |
| | | | | | |
Small Cap-Mid Cap Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,189.40 | | | $ | 3.69 | | | | 0.68 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,021.42 | | | $ | 3.41 | | | | 0.68 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,179.90 | | | $ | 2.35 | | | | 0.65 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,021.57 | | | $ | 3.26 | | | | 0.65 | % |
342
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
| | | | | | | | | | | | | | | | | | | | |
Portfolio | | | | | | Beginning
Account
Value
January 1, 2019 | | | Ending
Account
Value
June 30, 2019 | | | Expenses
Paid
During
Period1 | | | Annualized
Expense
Ratio | |
Institutional Small Cap-Mid Cap Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,198.60 | | | $ | 3.05 | | | | 0.56 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.02 | | | $ | 2.81 | | | | 0.56 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,147.20 | | | $ | 2.15 | | | | 0.55 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.07 | | | $ | 2.76 | | | | 0.55 | % |
| | | | | | |
Real Estate Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,183.80 | | | $ | 4.17 | | | | 0.77 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,020.98 | | | $ | 3.86 | | | | 0.77 | % |
| | | | | | |
Commodity Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,144.60 | | | $ | 1.49 | | | | 0.28 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.41 | | | $ | 1.40 | | | | 0.28 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,085.20 | | | $ | 1.10 | | | | 0.29 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.36 | | | $ | 1.45 | | | | 0.29 | % |
| | | | | | |
ESG Growth Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,113.10 | | | $ | 1.89 | | | | 0.36 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.01 | | | $ | 1.81 | | | | 0.36 | % |
| | HC Advisors Shares | | Actual5 | | $ | 1,000.00 | | | $ | 1,093.10 | | | $ | 1.75 | | | | 0.37 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.96 | | | $ | 1.86 | | | | 0.37 | % |
| | | | | | |
Catholic SRI Growth Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,131.00 | | | $ | 1.64 | | | | 0.31 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.26 | | | $ | 1.56 | | | | 0.31 | % |
| | HC Advisors Shares | | Actual5 | | $ | 1,000.00 | | | $ | 1,107.70 | | | $ | 1.48 | | | | 0.31 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.26 | | | $ | 1.56 | | | | 0.31 | % |
| | | | | | |
International Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,128.60 | | | $ | 2.48 | | | | 0.47 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.46 | | | $ | 2.36 | | | | 0.47 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,129.20 | | | $ | 1.69 | | | | 0.48 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.41 | | | $ | 2.41 | | | | 0.48 | % |
| | | | | | |
Institutional International Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,125.60 | | | $ | 2.16 | | | | 0.41 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.76 | | | $ | 2.06 | | | | 0.41 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,079.10 | | | $ | 1.59 | | | | 0.42 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.71 | | | $ | 2.11 | | | | 0.42 | % |
| | | | | | |
Emerging Markets Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,105.40 | | | $ | 2.56 | | | | 0.49 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.36 | | | $ | 2.46 | | | | 0.49 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,051.20 | | | $ | 1.83 | | | | 0.49 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.36 | | | $ | 2.46 | | | | 0.49 | % |
| | | | | | |
Core Fixed Income Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,065.50 | | | $ | 2.00 | | | | 0.39 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.86 | | | $ | 1.96 | | | | 0.39 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,036.20 | | | $ | 1.60 | | | | 0.43 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.66 | | | $ | 2.16 | | | | 0.43 | % |
| | | | | | |
Fixed Opportunity Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,093.40 | | | $ | 2.44 | | | | 0.47 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.46 | | | $ | 2.36 | | | | 0.47 | % |
| | HC Advisors Shares | | Actual4 | | $ | 1,000.00 | | | $ | 1,071.70 | | | $ | 1.77 | | | | 0.47 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,022.46 | | | $ | 2.36 | | | | 0.47 | % |
| | | | | | |
U.S. Government Fixed Income Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,049.40 | | | $ | 0.97 | | | | 0.19 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.85 | | | $ | 0.95 | | | | 0.19 | % |
| | | | | | |
Inflation Protected Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,059.40 | | | $ | 0.87 | | | | 0.17 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.95 | | | $ | 0.85 | | | | 0.17 | % |
| | HC Advisors Shares | | Actual5 | | $ | 1,000.00 | | | $ | 1,047.60 | | | $ | 0.83 | | | | 0.18 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.90 | | | $ | 0.90 | | | | 0.18 | % |
| | | | | | |
U.S. Corporate Fixed Income Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,098.40 | | | $ | 1.09 | | | | 0.21 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.75 | | | $ | 1.05 | | | | 0.21 | % |
343
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
| | | | | | | | | | | | | | | | | | | | |
Portfolio | | | | | | Beginning
Account
Value
January 1, 2019 | | | Ending
Account
Value
June 30, 2019 | | | Expenses
Paid
During
Period1 | | | Annualized
Expense
Ratio | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,037.40 | | | $ | 1.36 | | | | 0.27 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.46 | | | $ | 1.35 | | | | 0.27 | % |
| | | | | | |
Short-Term Municipal Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,019.80 | | | $ | 1.40 | | | | 0.28 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.41 | | | $ | 1.40 | | | | 0.28 | % |
| | | | | | |
Intermediate Municipal Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,046.30 | | | $ | 1.67 | | | | 0.33 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.16 | | | $ | 1.66 | | | | 0.33 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,045.60 | | | $ | 1.09 | | | | 0.32 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.21 | | | $ | 1.61 | | | | 0.32 | % |
| | | | | | |
Intermediate Municipal II Portfolio | | HC Strategic Shares | | Actual | | $ | 1,000.00 | | | $ | 1,037.10 | | | $ | 1.57 | | | | 0.31 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.26 | | | $ | 1.56 | | | | 0.31 | % |
| | HC Advisors Shares | | Actual3 | | $ | 1,000.00 | | | $ | 1,011.80 | | | $ | 1.00 | | | | 0.30 | % |
| | | | Hypothetical2 | | $ | 1,000.00 | | | $ | 1,023.31 | | | $ | 1.51 | | | | 0.30 | % |
| 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. |
| 3 | Expenses are equal to the average account value over the period, multiplied by the Portfolio’s annualized expense ratio, multiplied by 121/365 (to reflect the stub period January 1, 2019 to May 1, 2019). |
| 4 | Expenses are equal to the average account value over the period, multiplied by the Portfolio’s annualized expense ratio, multiplied by 133/365 (to reflect the stub period January 1, 2019 to May 13, 2019). |
| 5 | Expenses are equal to the average account value over the period, multiplied by the Portfolio’s annualized expense ratio, multiplied by 165/365 (to reflect the stub period January 1, 2019 to June 14, 2019). |
4. ADDITIONAL FEDERAL INCOME TAX INFORMATION
A. Dividends Received Deduction. For corporate shareholders, the following percentage of the total ordinary income distributions paid during the fiscal year ending June 30, 2019, qualify for the corporate dividend received deduction for the following Portfolios:
| | | | |
Portfolio | | Dividends
Received
Deduction | |
Value Portfolio | | | 94.74% | |
Institutional Value Portfolio | | | 66.21% | |
Growth Portfolio | | | 95.79% | |
Institutional Growth Portfolio | | | 55.66% | |
Small Cap–Mid Cap Portfolio | | | 100.00% | |
Institutional Small Cap–Mid Cap Portfolio | | | 34.23% | |
Real Estate Portfolio | | | 4.37% | |
ESG Growth Portfolio | | | 41.70% | |
Catholic SRI Growth Portfolio | | | 40.12% | |
International Portfolio | | | 0.04% | |
Institutional International Portfolio | | | 0.02% | |
Emerging Markets Portfolio | | | 0.02% | |
344
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
B. Qualified Dividends. For the fiscal year ending June 30, 2019, under current tax law, the following dividends paid may be subject to a maximum tax rate of 15%:
| | | | |
Portfolio | | Dividends
Paid | |
Value Portfolio | | | 99.98% | |
Institutional Value Portfolio | | | 68.42% | |
Growth Portfolio | | | 100.00% | |
Institutional Growth Portfolio | | | 59.52% | |
Small Cap–Mid Cap Portfolio | | | 100.00% | |
Institutional Small Cap–Mid Cap Portfolio | | | 36.08% | |
Real Estate Portfolio | | | 4.37% | |
ESG Growth Portfolio | | | 99.58% | |
Catholic SRI Growth Portfolio | | | 94.94% | |
International Portfolio | | | 87.99% | |
Institutional International Portfolio | | | 76.36% | |
Emerging Markets Portfolio | | | 94.53% | |
C. Foreign Tax Pass through Credit. Certain HC Capital Trust Portfolios intend to elect to pass through to shareholders the income tax credit for taxes paid to foreign countries. The pass through of the credit will only affect those persons who are shareholders of the Portfolio on a dividend record date in calendar year 2019. These shareholders will receive more detailed information along with their 2019 Form1099-DIV. Foreign source income and foreign tax expense per outstanding share on June 30, 2019, are as follows:
| | | | | | | | |
Portfolio | | Foreign
Source
Income | | | Foreign
Tax
Expense | |
International Portfolio | | $ | 0.41 | | | $ | 0.03 | |
Institutional International Portfolio | | $ | 0.40 | | | $ | 0.03 | |
Emerging Markets Portfolio | | $ | 0.58 | | | $ | 0.07 | |
The Portfolios intend to designate the maximum amount allowable as taxed at a maximum rate of 15%. Complete information will be reported in conjunction with your 2019 Form1099-DIV.
D. Qualified Interest Income. For the fiscal year ending June 30, 2019, the following dividends paid by the Portfolios were designated as Qualified Interest Income that may be exempt from U.S. withholding tax on accounts of foreign investors.
| | | | |
Portfolio | | Qualified
Interest
Income | |
Core Fixed Income Portfolio | | | 98.71% | |
Fixed Opportunity Portfolio | | | 91.96% | |
U.S. Government Fixed Income Portfolio | | | 97.15% | |
U.S. Corporate Fixed Income Portfolio | | | 100.00% | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio | | | 91.70% | |
345
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
E. Long Term Capital Gains. The Portfolios declared long term distributions of realized gains qualifying for a maximum 15% capital gains tax rate for individuals as follows:
| | | | |
Portfolio | | Amount
(000) | |
Value Portfolio | | $ | 31,245 | |
Institutional Value Portfolio | | | 52,349 | |
Growth Portfolio | | | 44,862 | |
Institutional Growth Portfolio | | | 79,725 | |
Small Cap–Mid Cap Portfolio | | | 9,141 | |
Institutional Small Cap–Mid Cap Portfolio | | | 28,399 | |
Real Estate Portfolio | | | 1,381 | |
ESG Growth Portfolio | | | 4,748 | |
Catholic SRI Growth Portfolio | | | 2,302 | |
Institutional International Portfolio | | | 69,677 | |
Intermediate Municipal II Portfolio | | | 107 | |
F. Short Term Capital Gains. The Portfolios declared short term distributions of realized gains as follows:
| | | | |
Portfolio | | Amount
(000) | |
Institutional Value Portfolio | | $ | 11,024 | |
Institutional Growth Portfolio | | | 3,943 | |
Institutional Small Cap–Mid Cap Portfolio | | | 4,286 | |
ESG Growth Portfolio | | | 76 | |
Catholic SRI Growth Portfolio | | | 136 | |
Institutional International Portfolio | | | 13,585 | |
Intermediate Municipal II Portfolio | | | 2 | |
G. Tax Exempt Distributions. The Portfolios declared and paid tax exempt distributions for the fiscal year ending June 30, 2019, as follows:
| | | | |
Portfolio | | Amount
(000) | |
Short-Term Municipal Portfolio | | $ | 1,331 | |
Intermediate Municipal Portfolio | | | 8,495 | |
Intermediate Municipal II Portfolio | | | 1,619 | |
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 FormN-PORT and is available on the SEC’s website at http://www.sec.gov.
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HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (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 | |
Communication Services | | | 9.3 | % |
Consumer Discretionary | | | 10.1 | % |
Consumer Staples | | | 6.2 | % |
Energy | | | 4.5 | % |
Financials | | | 12.4 | % |
Health Care | | | 12.9 | % |
Industrials | | | 9.9 | % |
Information Technology | | | 21.7 | % |
Materials | | | 3.0 | % |
Real Estate | | | 3.6 | % |
Utilities | | | 3.2 | % |
Investment Companies | | | 3.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Institutional Value Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 6.1 | % |
Consumer Discretionary | | | 6.6 | % |
Consumer Staples | | | 6.9 | % |
Energy | | | 4.8 | % |
Financials | | | 12.1 | % |
Health Care | | | 9.4 | % |
Industrials | | | 7.1 | % |
Information Technology | | | 9.5 | % |
Materials | | | 2.6 | % |
Real Estate | | | 3.5 | % |
Utilities | | | 3.2 | % |
U.S. Treasury Obligation | | | 0.0 | % |
Exchange-Traded Fund | | | 0.0 | % |
Investment Companies | | | 28.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Growth Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 8.8 | % |
Consumer Discretionary | | | 15.0 | % |
Consumer Staples | | | 6.3 | % |
Energy | | | 2.0 | % |
Financials | | | 7.5 | % |
Health Care | | | 11.7 | % |
Industrials | | | 7.3 | % |
Information Technology | | | 33.0 | % |
Materials | | | 1.9 | % |
Real Estate | | | 2.8 | % |
Utilities | | | 0.8 | % |
Exchange-Traded Fund | | | 0.2 | % |
Investment Companies | | | 2.5 | % |
Other | | | 0.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Institutional Growth Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 11.3 | % |
Consumer Discretionary | | | 13.2 | % |
Consumer Staples | | | 5.3 | % |
Energy | | | 1.8 | % |
Financials | | | 7.0 | % |
Health Care | | | 12.4 | % |
Industrials | | | 8.7 | % |
Information Technology | | | 28.4 | % |
Materials | | | 1.7 | % |
Real Estate | | | 3.3 | % |
Utilities | | | 2.0 | % |
U.S. Treasury Obligation | | | 0.0 | % |
Exchange-Traded Fund | | | 0.0 | % |
Investment Companies | | | 4.8 | % |
Other | | | 0.1 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
347
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
SmallCap-Mid Cap Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 3.0 | % |
Consumer Discretionary | | | 10.4 | % |
Consumer Staples | | | 1.7 | % |
Energy | | | 4.7 | % |
Financials | | | 12.9 | % |
Health Care | | | 14.7 | % |
Industrials | | | 19.0 | % |
Information Technology | | | 18.9 | % |
Materials | | | 5.1 | % |
Real Estate | | | 2.7 | % |
Utilities | | | 1.1 | % |
Investment Companies | | | 5.3 | % |
Other | | | 0.5 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Institutional SmallCap-Mid Cap Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 2.3 | % |
Consumer Discretionary | | | 11.2 | % |
Consumer Staples | | | 1.7 | % |
Energy | | | 3.8 | % |
Financials | | | 12.3 | % |
Health Care | | | 15.4 | % |
Industrials | | | 18.3 | % |
Information Technology | | | 17.9 | % |
Materials | | | 4.7 | % |
Real Estate | | | 3.0 | % |
Utilities | | | 1.3 | % |
U.S. Treasury Obligation | | | 0.0 | % |
Investment Companies | | | 7.3 | % |
Other | | | 0.8 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Real Estate Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Consumer Discretionary | | | 3.4 | % |
Real Estate | | | 89.8 | % |
Investment Companies | | | 6.8 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Commodity Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Energy | | | 45.9 | % |
Financials | | | 0.1 | % |
Materials | | | 38.5 | % |
Utilities | | | 0.1 | % |
U.S. Treasury Obligation | | | 0.4 | % |
Exchange-Traded Fund | | | 0.0 | % |
Investment Companies | | | 12.0 | % |
Other | | | 3.0 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
ESG Growth Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 7.3 | % |
Consumer Discretionary | | | 9.4 | % |
Consumer Staples | | | 8.5 | % |
Energy | | | 5.6 | % |
Financials | | | 15.7 | % |
Health Care | | | 11.4 | % |
Industrials | | | 10.1 | % |
Information Technology | | | 16.0 | % |
Materials | | | 4.6 | % |
Real Estate | | | 3.1 | % |
Utilities | | | 3.4 | % |
Investment Company | | | 4.9 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Catholic SRI Growth Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 8.4 | % |
Consumer Discretionary | | | 11.0 | % |
Consumer Staples | | | 6.9 | % |
Energy | | | 6.1 | % |
Financials | | | 17.6 | % |
Health Care | | | 5.4 | % |
Industrials | | | 8.6 | % |
Information Technology | | | 16.8 | % |
Materials | | | 5.2 | % |
Real Estate | | | 3.3 | % |
Utilities | | | 3.5 | % |
Investment Companies | | | 7.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
348
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
International Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 6.4 | % |
Consumer Discretionary | | | 8.6 | % |
Consumer Staples | | | 4.4 | % |
Energy | | | 8.5 | % |
Financials | | | 21.6 | % |
Health Care | | | 10.2 | % |
Industrials | | | 15.9 | % |
Information Technology | | | 7.2 | % |
Materials | | | 12.0 | % |
Real Estate | | | 1.6 | % |
Utilities | | | 2.4 | % |
Investment Companies | | | 1.0 | % |
Other | | | 0.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Institutional International Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 5.6 | % |
Consumer Discretionary | | | 8.2 | % |
Consumer Staples | | | 6.5 | % |
Energy | | | 7.4 | % |
Financials | | | 17.9 | % |
Health Care | | | 10.8 | % |
Industrials | | | 13.7 | % |
Information Technology | | | 5.9 | % |
Materials | | | 9.9 | % |
Real Estate | | | 2.2 | % |
Utilities | | | 2.7 | % |
Investment Companies | | | 9.0 | % |
Other | | | 0.2 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Emerging Markets Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 13.5 | % |
Consumer Discretionary | | | 10.5 | % |
Consumer Staples | | | 7.9 | % |
Energy | | | 6.1 | % |
Financials | | | 26.7 | % |
Health Care | | | 2.9 | % |
Industrials | | | 4.7 | % |
Information Technology | | | 13.5 | % |
Materials | | | 5.9 | % |
Real Estate | | | 2.3 | % |
Utilities | | | 1.9 | % |
U.S. Treasury Obligation | | | 0.1 | % |
Exchange-Traded Fund | | | 0.6 | % |
Investment Companies | | | 3.4 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Core Fixed Income Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Corporate | | | 33.1 | % |
Treasury | | | 29.5 | % |
Agency | | | 20.8 | % |
Investment Company | | | 8.4 | % |
Yankee Dollar | | | 5.6 | % |
Mortgage | | | 1.4 | % |
U.S. Government Agency Securities | | | 0.9 | % |
Asset Backed Securities | | | 0.3 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Fixed Opportunity Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Corporate | | | 48.5 | % |
Mortgage | | | 18.3 | % |
Yankee Dollar | | | 13.0 | % |
Investment Company | | | 12.9 | % |
U.S. Government Agency Mortgages | | | 4.8 | % |
Asset Backed Securities | | | 1.4 | % |
Repurchase Agreement | | | 1.0 | % |
Swaption | | | 0.1 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
U.S. Government Fixed Income Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Treasury | | | 96.8 | % |
U.S. Government Agency Securities | | | 3.0 | % |
Investment Company | | | 0.2 | % |
Yankee Dollar | | | 0.0 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Inflation Protected Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Treasury | | | 95.7 | % |
Investment Company | | | 4.3 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
349
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
U.S. Corporate Fixed Income Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Communication Services | | | 12.6 | % |
Consumer Discretionary | | | 1.4 | % |
Consumer Staples | | | 4.8 | % |
Energy | | | 11.6 | % |
Financials | | | 28.9 | % |
Health Care | | | 10.9 | % |
Industrials | | | 7.7 | % |
Information Technology | | | 6.5 | % |
Materials | | | 5.1 | % |
Real Estate | | | 1.3 | % |
Utilities | | | 6.1 | % |
Investment Companies | | | 3.1 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
U.S. Mortgage/Asset Backed Fixed Income Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Agency | | | 78.0 | % |
Investment Company | | | 15.1 | % |
Mortgage | | | 5.6 | % |
Asset Backed Securities | | | 1.3 | % |
Yankee Dollar | | | 0.0 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Short-Term Municipal Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
General Obligation | | | 53.5 | % |
Higher Education | | | 0.9 | % |
Power | | | 0.9 | % |
Revenue | | | 3.8 | % |
Revenue Bonds | | | 36.1 | % |
School District | | | 0.4 | % |
Water | | | 0.6 | % |
Investment Company | | | 3.8 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Intermediate Municipal Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Airport | | | 2.7 | % |
Education | | | 3.0 | % |
Facilities | | | 4.6 | % |
General | | | 12.6 | % |
General Obligation | | | 11.3 | % |
Higher Education | | | 2.5 | % |
Industrials | | | 0.0 | % |
Medical | | | 5.0 | % |
Nursing Homes | | | 0.4 | % |
Power | | | 2.7 | % |
Revenue Bonds | | | 26.9 | % |
School District | | | 2.2 | % |
Student Loan | | | 1.1 | % |
Tobacco Settlement | | | 1.5 | % |
Transportation | | | 7.2 | % |
Utilities | | | 1.2 | % |
Water | | | 4.4 | % |
Investment Companies | | | 10.7 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
Intermediate Municipal II Portfolio
| | | | |
Security Allocation | | Percentage
of Value | |
Education | | | 0.8 | % |
Facilities | | | 0.2 | % |
General | | | 6.0 | % |
General Obligation | | | 33.1 | % |
Higher Education | | | 1.2 | % |
Medical | | | 3.7 | % |
Power | | | 4.7 | % |
Revenue Bonds | | | 25.3 | % |
School District | | | 3.7 | % |
Transportation | | | 2.2 | % |
Utilities | | | 3.0 | % |
Water | | | 11.6 | % |
Investment Company | | | 4.5 | % |
| | | | |
Total | | | 100.0 | % |
| | | | |
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 fiscal year ended June 30, 2019, the Trust offeredtwenty-two Portfolios, eighteen of which were managed by two or more Specialist Managers. Each Specialist Manager is responsible for providingday-to-day portfolio management services for that portion of a Portfolio’s assets allocated to it by, and under the supervision of, the Adviser.
350
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
For the period January 1, 2019 through June 30, 2019, the Trust’s Board of Trustees (the “Board”):
| | • | | Approved the continuation of the HC Contracts; |
| | • | | Approved the continuation of certain Portfolio Management Agreements, as set forth below; and |
| | • | | Approved Amendments to Portfolio Management Agreements with Mellon Investments Corporation (“Mellon”) relating to two Portfolios. |
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 HC Contracts and 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.
Approval of the HC Contracts. During thesix-month period covered by this report, the Trust’s Board approved the continuation of both of the HC Contracts. In approving the HC Contracts, the Board gave substantial weight to the fact that the Trust and the Portfolios are designed to serve as asset allocation vehicles for, and are available exclusively to, clients of Hirtle Callaghan. Other factors considered by the Board in connection with its determination to approve the HC Contracts are summarized below.
With respect to the nature, extent and quality of the services provided by the Adviser to the Trust, the Board concluded that it was satisfied with the services. The Board determined that the Adviser’s services, including its role in the selection and oversight of the Specialist Managers, the allocation of assets among the Specialist Managers in multi-manager Portfolios, the process for identifying instances where there may be a need to replace a Specialist Manager and the process with regard to the efficient and economical implementation of such changes were consistent with the expectations of the Trust’s shareholders. In reaching this determination, the Board considered the services of the Trust’s executive officers, each of whom is an employee of Hirtle Callaghan, their oversight of the activities of the Trust’s administrator and other service providers, and the oversight of the Specialist Managers provided by the Adviser. The Board also considered the Adviser’s efforts to control the costs of the Trust, including obtaining advisory fee concessions from various Specialist Managers.
With respect to the performance achieved by the Trust’s Portfolios, the Board viewed the overall performance of the respective Portfolios in the context of their use as vehicles through which the Adviser seeks to access specific asset classes on behalf of Hirtle Callaghan clients. The Board was informed with respect to publicly available information about the performance of peer funds but based its conclusions primarily on the specific facts and circumstances of the Trust. The Board concluded that the performance results achieved by each Portfolio reflect appropriate manager selection by the Adviser and that the continuation of the relationship with the Adviser and approval of the HC Contracts were in the best interests of the Trust’s shareholders and consistent with shareholder expectations.
With respect to the fees paid to the Adviser under the HC Contracts, the Board considered the fact that Hirtle Callaghan’s standard client agreement provides for a fee reduction to the extent that a client’s assets are invested in a Portfolio that is equal to the 0.05% fee payable to the Adviser by each Portfolio under the HC Contract, effectively reducing the Adviser’s income from the Trust to 0.00%. Although informed with respect to advisory fees charged by peer funds, the Board did not consider such information to be a material factor in reaching its conclusion regarding the reasonableness of the fees paid to the Adviser by the Portfolios under the HC Contracts although the Board did consider comparisons of overall expenses to those of peer funds. In light of the unique fee reduction feature embedded in Hirtle Callaghan’s standard client agreements, the Board did not consider the financial position of the Adviser or specific information with respect to the costs and expenses incurred by the Adviser in providing services to the Trust other than to confirm the Adviser’s continued financial viability. Given the structure of the Advisor’s fee schedule, the Board determined that there was little, if any, opportunity for a Portfolio to achieve economies of scale with respect to the level of the Adviser’s fee. Based on the foregoing and other information relating to the structure and level of the Adviser’s fee provided to the Board, the Board concluded that the rate at which the Adviser is paid by the Trust for the services it provides to each Portfolio is reasonable.
351
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
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 |
| Agincourt Capital Management, LLC | | The ESG Growth Portfolio The Catholic SRI Growth Portfolio The Core Fixed Income Portfolio The U.S. Corporate Fixed Income Securities Portfolio |
| |
| Mellon Investments Corporation | | The Value Equity Portfolio The Institutional Value Equity Portfolio The Growth Equity Portfolio The Institutional Growth Equity Portfolio The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-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 (two agreements related to two different strategies) 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. Mortgage/Asset Backed Fixed Income Securities Portfolio The U.S. Corporate Fixed Income Securities Portfolio The Intermediate Term Municipal Bond Portfolio |
| |
| Breckinridge Capital Advisors, Inc. | | The Short-Term Municipal Bond Portfolio The Intermediate Term Municipal Bond II Portfolio |
| |
| City of London Investment Management Company | | The International Equity Portfolio The Institutional International Equity Portfolio The Emerging Markets Portfolio The Fixed Income Opportunity Portfolio The Intermediate Term Municipal Bond Portfolio The Intermediate Term Municipal Bond II Portfolio |
| |
| Fort Washington Investment Advisors, Inc. | | The Fixed Income Opportunity Portfolio |
| |
| Western Asset Management Company | | The Fixed Income Opportunity Portfolio |
| |
| Jennison Associates LLC | | The Growth Equity Portfolio The Institutional Growth Equity Portfolio |
| |
| Pacific Investment Management Co., LLC | | The Institutional Value Equity Portfolio The Institutional Growth Equity Portfolio The Commodity Returns Strategy Portfolio |
352
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
| | |
Specialist Manager | | Portfolios |
| |
| Parametric Portfolio Associates | | The Value Equity Portfolio (four agreements related to four different strategies) The Institutional Value Equity Portfolio (three agreements related to three different strategies) The Growth Equity Portfolio (four agreements related to four different strategies) The Institutional Growth Equity Portfolio (three agreements related to three different strategies) The SmallCapitalization-Mid Capitalization Equity Portfolio (three agreements related to three different strategies) The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio (two agreements related to two different strategies) The Real Estate Securities Portfolio (two agreements related to two different strategies) The Commodity Returns Strategy Portfolio (three agreements related to three different strategies) The ESG Growth Portfolio (two agreements related to two different strategies) The Catholic SRI Growth Portfolio (two agreements related to two different strategies) The International Equity Portfolio (three agreements related to three different strategies) The Institutional International Equity Portfolio (two agreements related to two different strategies) The Emerging Markets Portfolio (three agreements related to three different strategies) The Fixed Income Opportunity Portfolio (two agreements related to two different strategies) |
| |
| Vaughan Nelson Investment Management, L.P. | | The Commodity Returns Strategy 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 forday-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, 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.
353
HC CAPITAL TRUST
Additional Information (continued) — June 30, 2019 (Unaudited)
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. During the period, the Board also approved amendments (the “Amendments”) to the Portfolio Management Agreements (the “Mellon Agreements”) with Mellon 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 Agreements, Mellon had agreed to vote proxies of securities held in its accounts in accordance with the The Bank of New York Mellon’s Proxy Voting policy. At its meeting in March, 2019, the Board approved amendments to each of the Mellon Agreements to direct Mellon to vote such proxies in accordance with the ISS Sustainability Proxy Voting Guidelines instead. In approving the Amendments, the Board concluded that the change in proxy voting guidelines was consistent with each respective Portfolio’s overall investment strategy. Based on all of the information presented, the Board concluded that implementation of the Amendments was in the interests of shareholders of the Portfolios.
OFFICERS. The table below sets forth certain information about the Trust’s executive officers.
| | | | | | | | |
NAME, ADDRESS, AND AGE | | POSITION(S) HELD WITH TRUST | | TERM OF OFFICE; TERM SERVED IN OFFICE | | PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS | | NUMBER OF
PORTFOLIOS
IN FUND
COMPLEX
OVERSEEN |
Geoffrey A. Trzepacz Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1975 | | President | | Indefinite; President since 12/11/18 | | Mr. Trzepacz is currently the Chief Operating Officer (COO) of the Adviser since January 2018. Prior to January 2018, he served as COO for the Americas for Aberdeen Asset Management. | | 22 |
| | | | |
Colette Bergman Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1970 | | Vice President & Treasurer | | Indefinite; Since 6/12/12 | | Ms. Bergman is currently a Director of the Adviser. She has been with the Adviser for more than 5 years. | | 22 |
| | | | |
Guy Talarico Alaric Compliance Services, LLC 150 Broadway, Suite 302 New York, NY 10038 Born: 1955 | | Chief Compliance Officer | | Indefinite; Since 4/25/13 | | Mr. Talarico is President and CEO of Alaric Compliance Services, LLC and has been since the company’s inception in 2004. | | 22 |
| | | | |
Curtis Barnes Citi Fund Services 4400 Easton Commons, Suite 200 Columbus, OH 43219 Born: 1953 | | Secretary | | Indefinite; Since 6/05/14 | | Mr. Barnes is a Senior Vice President and has been with Citi Fund Services Ohio, Inc. since June 1995. | | 22 |
354
HC CAPITAL TRUST
Additional Information (concluded) — June 30, 2019 (Unaudited)
INDEPENDENT TRUSTEES. The table below sets forth certain information about the Trust’s Independent Trustees.
| | | | | | | | | | |
NAME, ADDRESS, AND AGE | | POSITION(S) HELD WITH TRUST | | TERM OF OFFICE; TERM SERVED IN OFFICE | | PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS | | NUMBER OF
PORTFOLIOS
IN FUND
COMPLEX
OVERSEEN | | OTHER
DIRECTORSHIPS
HELD BY
TRUSTEE* |
John M. Dyer Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1954 | | Trustee | | Indefinite: Since 6/18/19 | | Mr. Dyer is currently a Board member of Cox Enterprises, Inc. (technology, communications and automotive services) (“Cox”) since 2010 and World Wide Technology (technology services) since 2019. Formerly, President and CEO of Cox (2014-2017). | | 22 | | None |
| | | | | |
Jarrett Burt Kling Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1943 | | Trustee | | Indefinite; Since 7/20/95 | | For more than the past five years Mr. Kling has been a managing director of CBRE Clarion Securities, LLC, a registered investment adviser. | | 22 | | None |
| | | | | |
Harvey G. Magarick Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1939 | | Trustee | | Indefinite; Since 7/01/04 | | Mr. Magarick is retired. Prior to June 3, 2004, he was a partner in the accounting firm of BDO Seidman, LLP. | | 22 | | Resource
Apartment
REIT III,
Inc. |
| | | | | |
R. Richard Williams Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1945 | | Trustee and Chairman | | Indefinite; Trustee since 7/15/99; Chairman since 3/21/17 | | Since 2000, Mr. Williams has been the owner of Seaboard Advisers (consulting services). | | 22 | | None |
| | | | | |
Richard W. Wortham, III Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1938 | | Trustee | | Indefinite; Since 7/20/95 | | Mr. Wortham is currently the Chairman and Chief Executive Officer of The Wortham Foundation and has been a Trustee for more than the past five years. | | 22 | | Oncor
Electric
Delivery
Company
LLC |
INTERESTED TRUSTEE. The following table sets forth certain information about the Trust’s Interested Trustee.
| | | | | | | | | | |
NAME, ADDRESS, AND AGE | | POSITION(S)
HELD WITH
TRUST | | TERM OF OFFICE; TERM SERVED IN OFFICE | | PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS | | NUMBER OF
PORTFOLIOS
IN FUND
COMPLEX
OVERSEEN | | OTHER
DIRECTORSHIPS
HELD BY
TRUSTEE* |
Geoffrey A. Trzepacz ** Five Tower Bridge, 300 Barr Harbor Drive, West Conshohocken, PA 19428 Born: 1975 | | Trustee and President | | Indefinite; Since 1/1/19 | | Mr. Trzepacz is currently the Chief Operating Officer (COO) of the Adviser since January 2018. Prior to January 2018, he served as COO for the Americas for Aberdeen Asset Management. | | 22 | | None |
| * | The information in this column relates only to directorships in companies required to file certain reports with the SEC under the various federal securities laws. |
| ** | Mr. Trzepacz is considered to be “interested” as a result of his present positions with the Adviser or its affiliates. |
355
HC CAPITAL TRUST
Trustees
GEOFFREY A. TRZEPACZ*
JOHN M. DYER
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.
8/19
Item 2. Code of Ethics.
(a) The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party (the “Code of Ethics”). The Code of Ethics is included as an Exhibit. During the period covered by the report, with respect to the Registrant’s Code of Ethics, there have been no amendments to, nor any waivers granted from, a provision that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item 2 of FormN-CSR.
Item 3. Audit Committee Financial Expert.
3(a)(1) The Registrant’s Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its audit committee.
3(a)(2) The audit committee financial experts are Harvey Magarick and John Dyer, who are “independent” for purposes of this Item 3 of FormN-CSR. Mr. Magarick was appointed to the Board of Trustees effective July 1, 2004 and was determined to be an audit committee financial expert on August 26, 2004. Mr. Dyer was appointed to the Board of Trustees effective June 18, 2019 and was determined to be an audit committee financial expert on June 18, 2019.
Item 4. Principal Accountant Fees and Services.
| | | | |
| | (a)Audit Fees |
| | 2018 | | $628,517 |
| | 2019 | | $643,253 |
For the fiscal years ended June 30, 2018 and June 30, 2019, the aggregate fees billed by PricewaterhouseCoopers LLP for professional services rendered for the audits of the financial statements or services that are normally provided in connection with statutory and regulatory filings or engagements for the fiscal year for the Registrant are shown in the table above.
Audit-related fees include the aggregate fees billed in each of the last two fiscal years for assurance and related services provides by PricewaterhouseCoopers LLP reasonably related to the performance of the audit of the Registrant’s financial statements and not reported under Audit fees under Item 4(a).
| | | | |
| | (b)Audit-Related Fees |
| | 2018 | | $0 |
| | 2019 | | $0 |
| |
| | (c)Tax Fees |
| | 2018 | | $148,575 |
| | 2019 | | $149,605 |
Tax fees include amounts related to tax compliance, tax advice, and tax planning. Such tax services included the review of income and excise tax returns for the Registrant as shown in the table above for the fiscal years ended June 30, 2018 and June 30, 2019.
| | | | |
| | (d)All Other Fees |
| | 2018 | | $177,896 |
| | 2019 | | $300,175 |
Other fees include amounts related to international tax services for the Registrant as shown in the table above for the fiscal years ended June 30, 2018 and June 30, 2019.
(e)(1) - Except as permitted by Rule2-01 (c)(7)(i)(c) of RegulationS-X, the HC Capital Trust Audit Committee mustpre-approve all audit andnon-audit services provided by the independent accountants relating to the operations or financial reporting of the Portfolios. Prior to the commencement of any audit ornon-audit services to a Fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
(e)(2) – The following percentages of the services summarized in (b)-(d) above were approved by the Audit Committee pursuant to Rule2-01 (c)(i)(c) of RegulationS-X.
(f) - Not applicable.
(g) - For the fiscal years ended June 30, 2018 and June 30, 2019, the aggregatenon-audit fees billed by PricewaterhouseCoopers LLP for services rendered to the Registrant and to the Registrant’s investment advisers (the “Advisers”) and any entity controlling, controlled by, or under common control with the Advisers that provided ongoing services to the Registrant were $0 and $0, respectively.
(h) - PricewaterhouseCoopers LLP has informed the Registrant that it has identified an issue related to its independence under Rule2-01(c)(1)(ii)(A) of RegulationS-X (referred to as the “Loan Rule”). The Loan Rule prohibits accounting firms, such as PricewaterhouseCoopers LLP, from being considered independent if they have certain financial relationships with their audit clients or certain affiliates of those clients. The Registrant is required under various securities laws to have its financial statements audited by an independent accounting firm. PricewaterhouseCoopers LLP has informed the Registrant that PricewaterhouseCoopers LLP has relationships with lenders who hold or own more than ten percent of the shares of certain Portfolios of the Registrant. These relationships call into question PricewaterhouseCoopers LLP’s independence under the Loan Rule with respect to those Portfolios, as well as all other funds in the complex. The Securities and Exchange Commission has grantedno-action relief to another fund complex in circumstances that appear to be substantially similar to the Registrant’s (see Fidelity Management & Research Company et al.,No-Action Letter (June 20, 2016)). In addition, PricewaterhouseCoopers LLP has advised the Registrant’s Audit Committee that PricewaterhouseCoopers LLP believes that under the facts and circumstances surrounding PricewaterhouseCoopers LLP’s lending relationships, its ability to exercise objective and impartial judgment in connection with its audit engagement with the Registrant has not been impaired and that a reasonable investor with knowledge of all relevant facts and circumstances would reach the same
conclusion. If in the future, however, the independence of PricewaterhouseCoopers LLP is called into question under the Loan Rule by circumstances that are not addressed in the Securities and Exchange Commission’sno-action letter, the Registrant will need to take other action in order for the Registrant’s filings with the Securities and Exchange Commission containing financial statements to be deemed compliant with applicable securities laws. Finally, the Securities and Exchange Commission has indicated that itsno-action relief will expire 18 months from its issuance, after which PricewaterhouseCoopers LLP and the Registrant will no longer be able rely on the letter unless its term is extended or made permanent by the Securities and Exchange Commission Staff.
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 forClosed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers ofClosed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities byClosed-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 FormN-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 Rule30a-3(d) under the Investment Company Act of 1940 (“the Act”) (17 CFR270.30a-3(d)) that occurred during 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. Disclosures of Securities Lending Activities forClosed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1)The Code of Ethics that is the subject of the disclosure required by Item 2 is attached hereto.
(a)(2) Certifications pursuant to Rule30a-2(a) under the Act are attached hereto.
(a)(3)Not applicable.
(b)Certifications pursuant to Rule30a-2(b) under the Act are attached hereto.
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/ Geoffrey Trzepacz | | |
| | Geoffrey Trzepacz, Principal Executive Officer | | |
Date: September 4, 2019
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: September 4, 2019 | | |
| |
| By (Signature and Title) /s/ Geoffrey Trzepacz | | |
| | Geoffrey Trzepacz, Principal Executive Officer | | |
| |
Date: September 4, 2019 | | |
