UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT
COMPANIES
Investment Company Act file number 811-05084
Mutual of America Investment Corporation
(Exact name of registrant as specified in charter)
320 Park Avenue, New York, N.Y. 10022
(Address of principal executive offices) (Zip code)
John R. Greed
Senior Executive Vice President and Chief Financial Officer
Mutual of America Life Insurance Company
320 Park Avenue
New York, NY 10022
(Name and address of agents for service)
Registrant’s telephone number, including area code: (212) 224-1600
Date of fiscal year end: December 31
Date of reporting period: June 30, 2014
ITEM 1. REPORTS TO STOCKHOLDERS.
The Semi-Annual Report to Shareholders follows:
JUNE 30, 2014
Semi-Annual Reports of Investment Options Offered by Mutual of America Life Insurance Company
This report is not to be construed as an offering for sale of any Variable Policy. No offering is made except in conjunction with a prospectus which must precede or accompany this report.
320 PARK AVENUE
NEW YORK NY 10022-6839
August 2014
Dear Contract Owner,
As a valued variable annuity owner, we are pleased to provide you with the semi-annual fund reports for the investment options you have selected. Included in this booklet are the semi-annual reports of the Mutual of America Investment Corporation Funds. If you have also selected other investments options, you will receive semi-annual reports for those funds in a separate booklet or booklets. The reports provide an update on each portfolio’s performance as of June 30, 2014. Please note that portfolio performance does not take into account the fees charged by the contract. If these fees had been included, the fund’s performance would have been lower. As always, past performance cannot predict or guarantee future returns.
Mutual of America has specialized in providing retirement products and related services to organizations and their employees, as well as individuals, for over 65 years. As a mutual company, we do not have stockholders and are not publicly traded. We operate solely for the benefit of our customers, managing the Company for their long-term interest, rather than for the short-term demands of stockholders. Today, as in the past, Mutual of America remains financially strong and is rated among the strongest companies in the life insurance industry by the major independent rating agencies.*
Since 1945, Mutual of America has remained committed to offering plan sponsors, plan participants and individuals carefully selected, quality products and services at a competitive price and personal attention they need to help build and preserve assets for a financially secure future. Integrity, prudence, and reliability are the values that have guided us since our inception and that continue to serve us well.
We hope you will find the enclosed information helpful. We appreciate and value your business and look forward to serving you in the future. If you have any questions, please call your local Mutual of America Regional Office or 1-800-468-3785.
Sincerely,
Mutual of America Life Insurance Company
* | While these ratings do not apply to the safety or investment performance of the Separate Account investment funds available under Mutual of America’s products, they do reflect the Company’s ability to fulfill its General Account obligations, which include its obligations under the Interest Accumulation Account, annuity purchase rate guarantees and annuity benefit payouts, as well as life insurance and disability income payments. Third party ratings are subject to change. |
JUNE 30, 2014
Semi-Annual Reports of Mutual of America Investment Corporation
This report is not to be construed as an offering for sale of any Variable Policy. No offering is made except in conjunction with a prospectus which must precede or accompany this report.
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MUTUALOF AMERICA INVESTMENT CORPORATION
We are pleased to present the Mutual of America Investment Corporation (the “Investment Company”) Semi-Annual Report. This Report includes important information regarding the performance and financial position of the Investment Company’s funds for the six months ended June 30, 2014.
Most Equity Markets Up
During the first six months of 2014, every asset class registered positive returns. With regard to U.S. stocks, the S&P 500® Index (S&P 500) increased by 7.14%, the Russell Midcaps by 8.67% and the Russell Small Caps (Russell 2000) by 3.19%. The Dow Jones Industrial Average, S&P 500 Index and Russell Midcap Index closed the period at or very near all-time highs. All 10 sectors of the S&P 500 advanced during this timeframe. In addition, the MSCI World Equity Index posted a year-to-date advance of 4.96%, with individual sectors advancing in a range from 1.71% to 6.08%.
Such good overall equity returns for the period are particularly noteworthy as they followed 2013 double-digit full-year returns for most developed and frontier markets, although emerging markets underperformed significantly.
U.S. Bond Returns Also Broadly Positive
The Barclays Capital Aggregate Index for all U.S. bonds was up 3.93%, with the lowest investment grade bonds (BBB) advancing 7.1%, and all bonds with maturities of greater than 10 years registering positive returns of 10.32%. In addition, all long-term sectors of the U.S. bond market advanced by double-digits during the period: U.S. long-term Treasury securities increased 12.14%, long-term Investment Grade securities were up 11.22% and long-term High Yield bonds advanced 13.06%. The lowest grade long-term High Yield bonds (CC-D) generated returns of 29.4%. Similarly, all global bond markets in aggregate showed positive returns, although not as robust as those for U.S. bonds.
Bond Market at Odds with Equity Market
The behavior of equity markets would suggest a consensus that global growth will accelerate from very sluggish rates during the first half of this year. However, the behavior of bond yields suggests that bond investors are more skeptical. The 10-Year U.S. Treasury Bond yield declined from 3.03% at the beginning of the year to as low as 2.44% in late May, although it rose quickly in early June to about 2.6%. However, through the end of May, long-term Treasury securities generated total returns in excess of 12%, almost three times those of the S&P 500 and Dow Jones indexes. The declines in the bond yields of troubled European sovereign nations over the past two years is more a reflection of the perception that policy actions taken have significantly reduced the risk that the Eurozone will collapse and the euro will disappear.
The key debate among market commentators over the past few months has been the apparent disagreement between equity and bond markets regarding the future prospects for growth. There are a number of plausible explanations for the decline in U.S. Treasury yields beyond fear that growth will disappoint. These include but are not limited to:
— | money flows from Europe, because spreads in the Eurozone bond markets have shrunk relative to those in the U.S.; |
— | long-term reduction in expected inflation; |
— | continued weakness in the Chinese Yuan and |
— | a flight to quality in the face of rising geopolitical risk |
While it is almost impossible to prove any of these explanations, some are reasonable enough to suggest that fear of a slowdown or recession may not be the primary catalyst for the decline in U.S. rates.
However, though U.S. economic data during the first couple of months of the 2nd quarter of 2014 were stronger than during the adverse-weather-impacted 1st quarter of 2014, they were not as robust as many economists had expected.
U.S. Sector Data Generally Positive
Nevertheless, June’s data flow showed accelerating strength. Should that continue, estimates for growth during the second half of 2014 could actually begin to rise. Almost all manufacturing surveys have indicated continuing strong and accelerating growth. The auto industry has been especially strong, almost reaching an annualized rate of 17 million vehicles produced in May, close to the prerecession run rate. And the employment statistics, which Janet Yellen, the Chair of the Federal Reserve Board, flagged as key to any future changes in monetary policy, have continued to show steady, though modest, improvement. Initial jobless claims are running at close to the 300,000 per month level that has historically been associated with sustainable economic growth. Nonfarm payrolls, perhaps the most-watched
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employment statistic, have been averaging an addition of close to 200,000 jobs per month over the past six to nine months, and registered a robust increase of 288,000 for June versus a consensus of 217,000, with the previous two months data revised upward.
This pace of job creation, as in the case of jobless claims, has historically signaled sustainable growth, although not necessarily robust growth. In June, the unemployment rate stood at 6.1%, its lowest level since April 2008 and down from a peak of 10% at the end of 2009. In addition, the labor participation rate, which has been falling since October 2008, seems to have stabilized. At the same time, the average work week and average hourly earnings have shown little growth improvement, largely accounting for anemic growth in personal income and in weak spending by consumers.
While not all the data are strong, they indicate the U.S. economy continues to improve with suggestions of acceleration. There is, however, a growing risk that the Federal Reserve will begin to raise policy rates sooner than the currently anticipated second half of 2015 should growth and/or inflation show signs of rising at an increasingly accelerating pace.
Ongoing Risks Remain a Threat to Global Growth
The risks we’ve repeatedly discussed over the past couple of years remain. China’s growth has slowed, and may slow even further, as policy officials grapple with a housing bubble and over-capacity in a number of industries.
Europe also continues to struggle with growth. A strong euro, continued austerity among a number of troubled sovereign nations and weakness in key export markets have all conspired to suppress growth, which has recently turned positive, but just barely. Compounding the growth problem is inflation, which has been decelerating, threatening deflation — an affliction that incapacitated the Japanese economy for more than 20 years.
Japan is in the process of trying to break out of the gravitational pull of deflation, primarily through an aggressive quantitative easing program focused on creating a weaker yen and higher inflation, as well as reform efforts designed to encourage higher wages; more business and consumer spending; and a more flexible, less bureaucratic financial system.
Europe has recently responded to decelerating inflation somewhat less aggressively than Japan, but by historical standards, the steps taken by the European Central Bank (“ECB”) are monumental. While stopping short of outright quantitative easing, the ECB lowered the rate paid to banks on excess reserves to -0.1%, meaning the banks must pay to keep deposits of their excess reserves at the central bank. The expectation is that banks will withdraw their excess reserves and begin making loans to stimulate the economy. In addition, the ECB renewed a program of making short-term (i.e., four years or less) loans to banks on condition that they use these funds to make loans to businesses and consumers. Finally, the ECB will change its practice of “sterilizing,” or neutralizing, the effect of its normal operations of buying bonds in the open market to facilitate seasonal liquidity needs. Normally, the central bank would shortly thereafter sell bonds back into the market in order to withdraw the liquidity its bond purchases had temporarily created. Going forward, the ECB has stated that it will not reverse bond purchases, thus allowing the extra liquidity to remain in the system. This technique is essentially a mini-quantitative easing program. Thus, more money will remain in the system as a further stimulus to economic activity.
At issue is whether or not these actions will have the desired effect. Excess reserves can be withdrawn from the central bank and invested risk-free in U.S. Treasury securities that offer at least marginally positive returns on short maturities, and more if the purchaser is willing to extend the maturity of their purchases one to two years. Some commentators claim that European banks had already begun to do this prior to the ECB’s action. Thus, such invested excess reserves would be unavailable for making loans.
Despite these shortcomings, the fact that the ECB took such uncharacteristically aggressive steps will make further actions such as outright quantitative easing more palatable in the future for what has long been one of the most conservative financial entities in the world.
There are also the inevitable risks that will come with the end of the Fed’s quantitative easing program. If statistics on employment show rapid improvement, or inflation begins to accelerate, investors will pull forward their expectations of rate increases. Markets will react with greater volatility and, at least initially, a negative response. Equities should continue to rise in this recovery as they have in the past, even in the face of rising rates for a prolonged period, as long as the economy and profits continue to grow. Bond prices longer term should fall, pushing up yields as demand for capital increases and forward expectations of inflation increase.
Geopolitical risk has long been a background risk to all economic analyses, whether over the last five, 25, 100 or 1,000 years. These risks ebb and flow in importance to market participants, but rarely impact markets for any sustained period of time unless they lead to clear economic disruptions. The most likely transmission of these geopolitical risks to the global economy would be through rising oil prices. Yet markets to date do not seem to have responded with
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outsized concerns. Oil prices did rise about 6% immediately following Russia’s annexation of Crimea, but have since totally retraced the increase. Unless any of these or other geopolitical issues begin to directly and observably impact the prospects for global growth, markets should remain focused on economic fundamentals. As discussed, these fundamentals, while weak, have persistently shown modest improvement over the past few years.
Near-Term Outlook for U.S. Domestic Growth and Market Performance
Specifically focusing on the U.S., equity markets tend to be driven by corporate earnings. The statistics for 1st quarter earnings for the S&P 500 support the notion of continued slow growth. Sales and earnings during the same period came in ahead of beginning-of-quarter expectations, at 2.0% and 6.0%, respectively. Of all companies reporting, more than 70% came in above expectations, ahead of the long-term average of about 65%. Importantly, margins held steady at close to historical highs. Despite these seemingly good results, sales remain subpar due to persistently slow economic growth, and earnings have been getting an assist from “financial engineering” in the form of share repurchases, rather than being generated by purely operational factors.
For the bond market, short rates should continue to be anchored by the Fed’s commitment to maintain policy rates near zero for an extended period of time. Any acceleration in economic growth, inflation or inflation expectations would most likely result in an upward movement in longer-term Treasury rates and widening corporate bond spreads. However, many investors have been hurt badly over the past several years trying to anticipate an increase in long rates. These rates surely will rise, at some point in time, and owners of long-term bonds will experience capital losses. The key question is: When will that happen?
The first catalyst probably will be evidence of any strong acceleration in economic growth, which in turn, would prompt the Federal Reserve to start raising policy rates shortly thereafter. Recent strong economic data has encouraged a number of economists to pull forward their projected start dates from the second half of 2015 to earlier in the year. When that time comes, equity markets may experience a correction, but as long as improving economic growth persists, and earnings rise, markets should recover and move to new highs until the cycle ends. Our best guess is that point will not be reached for at least two to three years.
As a result, we expect equity markets to continue to advance steadily but slowly for a longer period of time. One could argue that the slowness of this recovery has raised the prospects that we are only around the halfway point in the expansion, which has just clocked its 63rd month, slightly above the 57-month average for all post-World War II expansions. Note that the 12 million jobs lost in the Great Recession of 2008-2009 are just now on the verge of being fully replaced and few end-of-cycle economic signals have appeared.
Long-Term Concerns
The key long-term concern for investors and policy makers worldwide is what unanticipated consequences will be experienced when the inevitable unwinding of the unprecedented aggressive quantitative easing of the past five years begins in earnest.
The first concern that has been raised over the past few years is the prospect of runaway inflation, much like in the 1970s, this time as a result of the staggering amount of liquidity that has been pumped into the global financial system. Should those funds begin to be utilized aggressively by businesses for investment in fixed capital and labor rather than in financial assets, “too much money chasing too few goods” would likely drive up prices. Whether or not the central banks will have the wisdom to know when, or in what increments, or with what tools to withdraw liquidity without either not doing enough to prevent inflation, or doing too much and prompting a recession, remains an open-ended question.
A second and related concern that has been raised is the fear that the tremendous amount of liquidity in the financial system will generate a “bubble,” or bubbles, which will inevitably burst. We have several recent examples: The Savings and Loan crisis in the late 1980s and early 1990s, the Japanese housing collapse in 1989, the “Tech Wreck” of 2000 and of course the U.S. Real Estate Bust of 2008 that caused the so-called “Great Recession,” from which we have been attempting to exit for some time.
Recent comments by Janet Yellen that it was not the Fed’s job to use monetary policy to manage financial crises only heightened the concern over bubbles, which are generally financial in origin. The remark was even more astonishing given that Federal Reserve actions in response to the 2008 implosion of the financial system was the classic case of monetary policy addressing a financial crisis. In fairness, however, her statement included an expression of belief that regulatory oversight would in the future be sufficient to preclude another financial crisis and that the job of the Fed going forward would be to focus exclusively on its dual mandate to ensure price stability and full employment. History would suggest that regulations are usually put in place after a crisis, are designed to address the causes of that crisis and inevitably fail to anticipate the causes of the next one.
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In short, it is probable that we will eventually face another economic or financial crisis. It is likely that no one, at least those in positions of authority and power, will foresee it. That is because by the time a bubble is about to burst, politicians and regulators will have become convinced their remedies for the prior meltdown have and will continue to work, and market participants will be blinded by their exuberance over some asset, or set of assets, whose values have soared. Unanticipated consequences can’t be anticipated.
The good news is that such an event is probably well off in the future. The heightened vigilance of the Federal Reserve and other central banks around the world, the extreme reluctance of businesses and consumers to spend and for banks to lend, and the current complacency within the financial markets suggest we are still in the “fear” phase rather than the “greed” phase of the market and economic cycle. Bubbles generally burst when no one is looking anymore. We’re not there yet.
The total return performance (net of investment management and other operating expenses) for each of the Investment Company Funds is reflected below:
Total Returns — Six Months Ended June 30, 2014 | ||||
Equity Index Fund | +7.04% | |||
All America Fund | +5.93% | |||
Small Cap Value Fund | +3.95% | |||
Small Cap Growth Fund | +1.10% | |||
Mid Cap Value Fund | +9.10% | |||
Mid-Cap Equity Index Fund | +7.44% | |||
International Fund | +4.15% | |||
Composite Fund | +5.59% | |||
Retirement Income Fund | +4.50% | |||
2010 Retirement Fund | +4.95% | |||
2015 Retirement Fund | +5.20% | |||
2020 Retirement Fund | +5.37% | |||
2025 Retirement Fund | +5.67% | |||
2030 Retirement Fund | +5.87% | |||
2035 Retirement Fund | +5.87% | |||
2040 Retirement Fund | +5.72% | |||
2045 Retirement Fund | +5.58% | |||
2050 Retirement Fund | +5.52% | |||
Conservative Allocation Fund | +4.84% | |||
Moderate Allocation Fund | +5.71% | |||
Aggressive Allocation Fund | +5.91% | |||
Money Market Fund | -0.07% | |||
Mid-Term Bond Fund | +2.86% | |||
Bond Fund | +4.84% |
The above performance figures do not reflect the deduction of respective Separate Account fees and expenses imposed by Mutual of America Life Insurance Company. All Fund performances presented throughout this report are historical, reflect the full reinvestment of dividends paid, and should not be considered indicative of future results.
The pages which immediately follow include brief discussions of each Fund’s performance for the six months ended June 30, 2014, compared with its relevant index.
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Following the discussions are the graphical representations of the asset allocations of each Fund and an illustration of each Fund’s operating expenses. The summarized portfolios of each Fund and financial statements are presented in the pages which then follow.
Thank you for your continued investment in our Funds.
Sincerely,
John R. Greed
Chairman of the Board, President
and Chief Executive Officer
Mutual of America Investment Corporation
The views expressed in this Semi-Annual Report are subject to change at any time based on market and other conditions and should not be construed as a recommendation. This Report contains forward looking statements which speak only as of the date they were made and involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed herein. Readers are cautioned not to place undue reliance on our forward-looking statements, as we assume no obligation to update these forward-looking statements. Readers assume any and all responsibility for any investment decision made as a result of the views expressed herein.
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The Equity Index Fund’s objective is to replicate the performance of the S&P 500® Index (S&P 500), which consists of 500 stocks chosen by Standard & Poor’s for market size, liquidity and industry group representation. The S&P 500 is a market-weighted index of 500 stocks traded on the New York Stock Exchange, American Stock Exchange and NASDAQ, with each stock’s weight in the index proportionate to its market value. The weightings make each company’s influence on the S&P 500’s performance directly proportional to that company’s market value.
The S&P 500 had a strong first half of 2014, returning 7.14% including dividends. The S&P 500 closed the half-year at nearly its all-time high level on June 30, 2014. Utilities, Energy and Healthcare were the best performing sectors of the year to date period, returning 18.7%, 13.0% and 10.6%, respectively. No sectors had a negative return but Consumer Discretionary, Industrials, and Telecom were the worst performing, with returns of 0.6%, 4.0% and 4.3%, respectively.
The Equity Index Fund’s performance for the six months ended June 30, 2014, was 7.12% before expenses and 7.04% after expenses, in line with the benchmark return of 7.14%. Note that the Equity Index Fund’s performance includes expenses, such as transaction costs and management fees, which are not applicable to the benchmark.
ALL AMERICA FUND
The investment objective of the All America Fund is to outperform the S&P 500® Index (S&P 500). The All America Fund is approximately 60% invested in the 500 stocks that comprise the S&P 500, with the remaining 40% actively managed, using three different investment approaches. The actively managed portion of the All America Fund is close to being equally distributed between large cap stocks and small cap stocks, with the small cap stocks in turn equally distributed between small cap value and small cap growth stocks.
For the six months ended June 30, 2014, the S&P 500 of large capitalization stocks increased by 7.14% on a total return basis, while the Russell 2000® Growth Index was up 2.22% and the Russell 2000® Value Index was up 4.20%.
The All America Fund’s return for the six months ended June 30, 2014, before expenses was 6.17% and 5.93% after expenses versus the benchmark return of 7.14%. The underperformance of the Fund was the result of under-performance by the Small Cap Growth, Small Cap Value and Active Large Cap components of the Fund. The Equity Index modestly out-performed the benchmark.
SMALL CAP VALUE FUND
The investment objective of the Small Cap Value Fund is to outperform the Russell 2000® Value Index. The Small Cap Value Fund generally invests in companies that are below $3 billion in market capitalization and have lower price-to-book characteristics than the overall market.
For the six months ended June 30, 2014, the Small Cap Value Fund returned 4.35% before expenses and 3.95% after expenses versus a 4.20% return for the Russell 2000 Value Index. Within the benchmark, the best performing sectors were Utilities and Energy while the worst sectors were Finance and Basic Materials.
Stock selection was the primary driver of negative performance versus the benchmark. Sectors contributing to Fund performance included Industrials and Health Care, while sectors detracting from Fund performance included Energy and Retail.
SMALL CAP GROWTH FUND
The investment objective of the Small Cap Growth Fund is capital appreciation. The Small Cap Growth Fund invests in growth stocks within the small capitalization marketplace. The Fund returned 1.52% before expenses and 1.10% after expenses during the six months ended June 30, 2014. The Fund’s benchmark, the Russell 2000® Growth Index, returned 2.22% for the period.
The first six months of the year were lackluster compared to the returns seen in 2013. The small capitalization growth marketplace showed its volatility compared to other equity classes. The Russell 2000 Growth Index showed a 6.2% return for the month of June bringing the index back into positive territory.
The Consumer Discretionary sector is showing the poorest performance as weather was particularly cold during the first quarter of the year and consumer discretionary income was into services. In addition, given the cold weather, housing activity has been lackluster. The small capitalization sector has more exposure to housing and its related industries than do the mid and large capitalization sectors. Nonetheless, with lower interest rates since the beginning of the year, industries with relatively attractive yields have particularly benefitted such as Real Estate Investment Trusts (REITs).
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The Energy sector has showed the most attractive performance given the tensions in the Middle East and the Ukraine. We had very competitive returns in this area. Most beneficial to our Fund have been Health Care and Consumer Staples. Detracting from the Fund has been the Consumer Discretionary and Materials sectors.
MID CAP VALUE FUND
The investment objective of the Mid Cap Value Fund is to outperform the Russell Midcap® Value Index. The Mid Cap Value Fund generally invests in companies that are between $1 billion and $20 billion in market capitalization and have lower price-to-book characteristics.
For the six months ended June 30, 2014, the Mid Cap Value Fund returned 9.42% before expenses and 9.10% after expenses versus an 11.14% return for the Russell Midcap Value Index. Within the benchmark, the best performing sectors were REITs and Utilities while the worst sectors were Retail and Finance.
Adverse stock selection was the primary driver of performance versus the benchmark. Sectors contributing to Mid Cap Value Fund performance included Consumer Staples and Industrials while sectors detracting from Fund performance included Technology and Energy.
MID-CAP EQUITY INDEX FUND
The Mid-Cap Equity Index Fund invests in the 400 stocks that comprise the S&P MidCap 400® Index (S&P MidCap 400). The S&P MidCap 400 is a market-weighted index of 400 stocks traded on the New York Stock Exchange, American Stock Exchange and NASDAQ. The weightings make each company’s influence on the S&P MidCap 400’s performance directly proportional to that company’s market value. The companies included in the S&P MidCap 400 tend to be typical of this asset class, the medium-capitalized sector of the U.S. securities market.
The S&P MidCap 400 outperformed the S&P 500® for the first half of 2014, at 8.7% versus 7.1% for the large cap stocks. The outperformance is a continuation of strong Mid Cap performance for 2013. Within the S&P MidCap 400, Telecom, Utilities and Energy sectors were up substantially, advancing 18.7%, 18.6%, and 16.5% respectively. The worst performing sector was Consumer Discretionary with a return of 2.2%.
The Mid-Cap Equity Index Fund’s performance for the six months ended June 30, 2014, was 7.53% before expenses and 7.44% after expenses, in line with the 7.50% return of the S&P MidCap 400. Note that the performance of the Mid-Cap Equity Index Fund includes expenses, such as transaction costs and management fees, which are not applicable to the benchmark.
INTERNATIONAL FUND
The International Fund seeks capital appreciation by investing, directly or indirectly, in stocks of companies located outside of the United States that are reflected or contained in the Morgan Stanley Capital International, Inc. Europe, Australasia and Far East® Index (MSCI EAFE® Index). Currently the International Fund is invested mainly in exchange traded funds that reflect the MSCI EAFE Index. The Fund also has invested a small percentage of assets in exchange traded funds that provide exposure to emerging markets and to companies with small market capitalizations in developed market countries.
For the six months ended June 30, 2014, the International Fund returned 4.23% before expenses and 4.15% after expenses, underperforming the 4.78% return of the benchmark. During the 2nd quarter the fund added exposure to International Small Cap and Emerging Markets which both outperformed the Index. The fund’s benchmark closes earlier in the day than the actual market for the fund’s investments. This time lag can result in both positive and negative performance differences. The fund’s securities closed at lower levels relative to the benchmark on June 30th, and higher levels relative to the benchmark on December 31, 2013, both of which adversely impacted the performance for the six month period.
COMPOSITE FUND
For the six months ended June 30, 2014, the fixed income portion of the Fund had a total return of 4.71% (before expenses), compared to the Barclays Capital Aggregate Bond Index, which returned 3.93% for the period. The fixed income portion of the Fund focused on income and capital preservation.
The Federal Reserve continued to emphasize low short-term rates in order to stimulate the economy, re-liquefy the banking system and support the mortgage market. As an example, 30-Day Treasury Bill yields ended 2013 at one basis point and remained at that level on June 30, 2014. One year Treasury Bills were also little changed, starting at 16 basis points and ending at 15 basis points in June.
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Intermediate and longer dated issues declined during the recent six months in response to Federal Reserve intervention in the market. For example, seven year Treasury Notes declined from 2.45% to 2.14%. Similarly, 30 year Treasury Bonds ended 2013 at 3.97% and declined to 3.36%. As a result, the broad bond market indices registered positive returns for the first half of 2014.
Yield spreads between corporate and Treasury Bonds continued to narrow as investors sought securities with higher yields. This emphasis on income and the resulting capital gains enabled the High Grade bond market to outperform the High Yield market by 31 basis points on a total return basis, according to data provided by CreditSights. On average, “BBB” corporate bonds returned 7.09%, a favorable comparison to the “A” rated average of 5.15% and the “BB” average of 5.99%
The strategy of the fixed income portion of the Fund was to maintain a similar maturity profile to the Aggregate Index with an overweighting of BBB issuers. Intermediate maturities were emphasized, as was diversification. This was done to protect the Fund from unexpected credit events, so few holdings exceeded one-half of one percent of the Fund’s value. The extreme diversification proved unnecessary, but will be maintained going forward as part of our risk control.
RETIREMENT INCOME FUND
The objective of the Retirement Income Fund is current income consistent with the preservation of capital and, to a lesser extent, capital appreciation. The Retirement Income Fund invests primarily in the fixed-income funds of the Investment Company and also invests in two equity funds of the Investment Company. The Fund’s current target allocation is approximately 75% of net assets in fixed-income funds (approximately 30% in the Bond, 40% in the Mid-Term Bond Funds and 5% in the Money Market Fund) and approximately 25% of net assets in equity funds (20% in the Equity Index Fund and 5% in the Mid-Cap Equity Index Fund).
Performance for the Retirement Income Fund is compared to the Barclays Capital Aggregate Bond Index (70% weighting), the Citigroup 3-Month Treasury Bill Index (5% weighting) and the S&P 500® Index (25% weighting). For the six months ended June 30, 2014, the Fund returned 4.50% versus a 4.53% return in the weighted benchmark. The slight underperformance of the Fund is mainly attributable to the underperformance of the Mid-Term Bond Fund and the Money Market Fund relative to the Barclays Capital Aggregate Bond Index.
2010 RETIREMENT FUND
The objective of the 2010 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2010. The 2010 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 63% of net assets in fixed-income funds (approximately 25% in the Bond Fund, 33% in the Mid-Term Bond Fund and 5% in the Money Market Fund) and approximately 37% of net assets in equity funds (25% in the Equity Index Fund, 9% in the Mid-Cap Equity Index Fund and 3% in the International Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the 2010 Retirement Fund is compared to the Barclays Capital Aggregate Bond Index (58% weighting), the Citigroup 3-Month Treasury Bill Index (5% weighting) and the S&P 500® Index (37% weighting). For the six months ended June 30, 2014, the Fund returned 4.95% versus a 4.92% return in the weighted benchmark. The slight outperformance of the Fund is mainly attributable to a small overweight to equities in the fund relative to the fund’s targeted allocation, partially offset by the underperformance of the Mid-Term Bond Fund and the Money Market Fund relative to the Barclays Capital Aggregate Bond Index.
2015 RETIREMENT FUND
The objective of the 2015 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2015. The 2015 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 47% of net assets in equity funds (approximately 28% in the Equity Index Fund, 11% in the Mid-Cap Equity Index Fund, 6% in the International Fund and 1% each in the Small Cap Growth and Small Cap Value Funds) and approximately 53% of net assets in fixed-income funds (25% in the Bond Fund and 28% in the Mid-Term Bond Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the 2015 Retirement Fund is compared to the S&P 500® Index (47% weighting) and the Barclays Capital Aggregate Bond Index (53% weighting). For the six months ended June 30, 2014, the Fund returned 5.20%
8
versus a 5.43% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the Mid-Term Bond Fund relative to the Barclays Capital Aggregate Bond Index.
2020 RETIREMENT FUND
The objective of the 2020 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2020. The 2020 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 57% of net assets in equity funds (approximately 33% in the Equity Index Fund, 11% in the Mid-Cap Equity Index Fund, 9% in the International Fund and 2% each in the Small Cap Growth and Small Cap Value Funds) and approximately 43% of net assets in fixed-income funds (25% in the Bond Fund and 18% in the Mid-Term Bond Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the 2020 Retirement Fund is compared to the S&P 500® Index (57% weighting) and the Barclays Capital Aggregate Bond Index (43% weighting). For the six months ended June 30, 2014, the Fund returned 5.37% versus a 5.76% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the Mid-Term Bond Fund relative to the Barclays Capital Aggregate Bond Index, and the underperformance of the International Fund and small cap funds relative to the S&P 500 Index
2025 RETIREMENT FUND
The objective of the 2025 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2025. The 2025 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 69% of net assets in equity funds (approximately 37% in the Equity Index Fund, 16% in the Mid-Cap Equity Index Fund, 10% in the International Fund and 3% each in the Small Cap Growth and Small Cap Value Funds) and approximately 31% of net assets in fixed-income funds (23% in the Bond Fund and 8% in the Mid-Term Bond Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the 2025 Retirement Fund is compared to the S&P 500® Index (69% weighting) and the Barclays Capital Aggregate Bond Index (31% weighting). For the six months ended June 30, 2014, the Fund returned 5.67% versus a 6.14% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
2030 RETIREMENT FUND
The objective of the 2030 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2030. The 2030 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 77% of net assets in equity funds (approximately 40% in the Equity Index Fund, 17% in the Mid-Cap Equity Index Fund, 10% in the International Fund and 5% each in the Small Cap Growth and Small Cap Value Funds) and approximately 23% of net assets in the Bond Fund.
Performance for the 2030 Retirement Fund is compared to the S&P 500® Index (77% weighting) and the Barclays Capital Aggregate Bond Index (23% weighting). For the six months ended June 30, 2014, the Fund returned 5.87% versus a 6.40% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
2035 RETIREMENT FUND
The objective of the 2035 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2035. The 2035 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 84% of net assets in equity funds (approximately 40% in the Equity Index Fund, 20% in the Mid-Cap Equity Index Fund, 12% in the International Fund and 6% each in the Small Cap Growth and Small Cap Value Funds) and approximately 16% of net assets in the Bond Fund.
Performance for the 2035 Retirement Fund is compared to the S&P 500® Index (84% weighting) and the Barclays Capital Aggregate Bond Index (16% weighting). For the six months ended June 30, 2014, the Fund returned 5.87% versus a 6.62% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
9
2040 RETIREMENT FUND
The objective of the 2040 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2040. The 2040 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 88% of net assets in equity funds (approximately 35% in the Equity Index Fund, 23% in the Mid-Cap Equity Index Fund, 14% in the International Fund and 8% each in the Small Cap Growth and Small Cap Value Funds) and approximately 12% of net assets in the Bond Fund.
Performance for the 2040 Retirement Fund is compared to the S&P 500® Index (88% weighting) and the Barclays Capital Aggregate Bond Index (12% weighting). For the six months ended June 30, 2014, the Fund returned 5.72% versus a 6.75% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
2045 RETIREMENT FUND
The objective of the 2045 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2045. The 2045 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 90% of net assets in equity funds (approximately 35% in the Equity Index Fund, 21% in the Mid-Cap Equity Index Fund, 16% in the International Fund and 9% each in the Small Cap Growth and Small Cap Value Funds) and approximately 10% of net assets in the Bond Fund.
Performance for the 2045 Retirement Fund is compared to the S&P 500® Index (90% weighting) and the Barclays Capital Aggregate Bond Index (10% weighting). For the six months ended June 30, 2014, the Fund returned 5.58% versus a 6.81% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
2050 RETIREMENT FUND
The objective of the 2050 Retirement Fund is current income and capital appreciation appropriate for the asset allocation associated with a target retirement in 2050. The 2050 Retirement Fund invests in funds of the Investment Company. The Fund’s current target allocation is approximately 92% of net assets in equity funds (approximately 35% in the Equity Index Fund, 20% in the Mid-Cap Equity Index Fund, 17% in the International Fund and 10% each in the Small Cap Growth and Small Cap Value Funds) and approximately 8% of net assets in the Bond Fund.
Performance for the 2050 Retirement Fund is compared to the S&P 500® Index (92% weighting) and the Barclays Capital Aggregate Bond Index (8% weighting). For the six months ended June 30, 2014, the Fund returned 5.52% versus a 6.88% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
CONSERVATIVE ALLOCATION FUND
The objective of the Conservative Allocation Fund is current income and, to a lesser extent, capital appreciation. The Conservative Allocation Fund invests primarily in the fixed-income funds of the Investment Company and also invests in the equity funds of the Investment Company. The Conservative Allocation Fund’s target allocation is approximately 65% of net assets in fixed-income funds (approximately 30% in the Bond Fund and 35% in the Mid-Term Bond Fund) and approximately 35% of net assets in equity funds (approximately 25% in the Equity Index Fund, 5% in the Mid-Cap Equity Index Fund and 5% in the International Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the Conservative Allocation Fund is compared to the Barclays Capital Aggregate Bond Index (65% weighting) and the S&P 500® Index (35% weighting). For the six months ended June 30, 2014, the Conservative Allocation Fund returned 4.84% versus a 5.05% return in the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the Mid-Term Bond Fund relative to the Barclays Capital Aggregate Bond Index.
MODERATE ALLOCATION FUND
The objective of the Moderate Allocation Fund is capital appreciation and current income. The Moderate Allocation Fund invests in the equity and fixed-income funds of the Investment Company. The Moderate Allocation Fund’s target allocation is approximately 60% of net assets in equity funds (approximately 35% of its net assets in the Equity Index Fund, 15% in the Mid-Cap Equity Index Fund and 10% in the International Fund) and approximately 40% of net assets in fixed-income funds (approximately 25% of its net assets in the Bond Fund and approximately 15% of its net assets in
10
the Mid-Term Bond Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the Moderate Allocation Fund is compared to the S&P 500® Index (60% weighting) and the Barclays Capital Aggregate Bond Index (40% weighting). For the six months ended June 30, 2014, the Moderate Allocation Fund returned 5.71% versus a 5.85% return for the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the Mid-Term Bond relative to the Barclays Capital Aggregate Bond Index, and the underperformance of the International Fund as compared to the S&P 500 Index.
AGGRESSIVE ALLOCATION FUND
The objective of the Aggressive Allocation Fund is capital appreciation and, to a lesser extent, current income. The Aggressive Allocation Fund invests in the equity and fixed-income funds of the Investment Company. The Aggressive Allocation Fund’s target allocation is approximately 80% of net assets in equity funds (approximately 35% of its net assets in the Equity Index Fund, 20% in the Mid-Cap Equity Index Fund, 5% in the Small Cap Value Fund, 5% in the Small Cap Growth Fund and 15% in the International Fund) and approximately 20% of net assets in the Bond Fund) (See Note 1 in the Notes to Financial Statements for additional information on changes to Fund target allocations during 2014).
Performance for the Aggressive Allocation Fund is compared to the S&P 500® Index (80% weighting) and the Barclays Capital Aggregate Bond Index (20% weighting). For the six months ended June 30, 2014, the Aggressive Allocation Fund returned 5.91% versus a 6.49% return for the weighted benchmark. The underperformance of the Fund is mainly attributable to the underperformance of the International Fund and the small cap funds relative to the S&P 500 Index.
MONEY MARKET FUND
The Money Market Fund’s investment objective is to realize current income while maintaining liquidity, investment quality and stability of capital through investing in high-quality commercial paper issued by U.S. corporations and securities issued by the U.S. government and its agencies. The Money Market Fund returned 0.04% before expenses and -0.07% after expenses for the six months ended June 30, 2014, compared to a 0.02% return for the Citigroup 3-Month Treasury Bill Index. Note that the benchmark performance does not reflect any expenses.
During the first half of 2014, the Federal Reserve remained committed to a near-zero interest rate policy by keeping the Fed Funds target rate at a range of 0% to 0.25%. As a result, money market returns were affected by extremely low yields and a decrease in supply of eligible investments. The Fund’s strategy continued to focus on quality, liquidity, and maintaining a relatively short weighted average maturity.
The seven-day effective yield as of August 12, 2014, was -0.19%. As with all performance reporting, this yield is not necessarily indicative of future annual yields. Neither the Federal Deposit Insurance Corporation nor any other U.S. government agency insures or guarantees the Separate Account’s investments in shares of the Money Market Fund.
MID-TERM BOND FUND
The Mid-Term Bond Fund seeks a high level of return consistent with the preservation of capital through investment in publicly traded debt securities. The Mid-Term Bond Fund primarily invests in corporate and U.S. government agency securities, which normally yield more than U.S. Treasury issues.
The Mid-Term Bond Fund emphasized corporate issues during the first six months of 2014 in order to capture incremental income. The Fund will continue to focus on income, rather than market volatility, to achieve superior returns over market cycles. In addition, the Fund’s corporate securities will remain highly diversified in order to shield the portfolio from any credit risk that might arise should the domestic economy weaken.
The average maturity of the Fund was similar to the Intermediate Index throughout the first half. The Fund does not emphasize market volatility, but seeks to achieve superior returns by compounding incremental income over market cycles.
An additional component of the Fund’s low risk profile is to highly diversify portfolio holdings. In general, new investment positions are kept to one-half of one percent of the Fund’s value. At the end of June, 159 corporate issuers were held with an average weighting of 0.38% of the Fund’s value.
For the six months ended June 30, 2014, the Mid-Term Bond Fund returned 3.10% before expenses and 2.86% after expenses, versus a 2.25% return for the Barclays Capital Intermediate Government/Credit Bond Index. The Fund’s emphasis on higher-yielding corporate issues was a major contributor to its outperformance
11
BOND FUND
The Bond Fund’s primary investment objective is to provide as high a level of current income over time as is believed to be consistent with prudent investment risk by investing primarily in investment grade, publicly traded debt securities. A secondary objective is preservation of capital. The Bond Fund primarily invests in corporate, U.S. government agency and mortgage-backed securities, all of which normally yield more than U.S. Treasury issues.
The Federal Reserve continued to emphasize low short-term rates in order to stimulate the economy, re-liquefy the banking system and support the mortgage market. As an example, 30-Day Treasury Bill yields ended 2013 at one basis point and remained at that level on June 30, 2014. One year Treasury Bills were also little changed, starting at 16 basis points and ending at 15 basis points in June.
Intermediate and longer dated issues declined during the recent six months in response to Federal Reserve intervention in the market. For example, seven year Treasury Notes declined from 2.45% to 2.14%. Similarly, 30 year Treasury Bonds ended 2013 at 3.97% and declined to 3.36%. As a result, the broad bond market indices registered positive returns for the first half of 2014.
Yield spreads between corporate and Treasury Bonds continued to narrow as investors sought securities with higher yields. This emphasis on income and the resulting capital gains enabled the High Grade bond market to outperform the High Yield market by 31 basis points on a total return basis, according to data provided by CreditSights. On average, “BBB” corporate bonds returned 7.09%, a favorable comparison to the “A” rated average of 5.15% and the “BB” average of 5.99%
The Bond Fund’s strategy was to maintain a similar maturity profile to the Aggregate Index with an overweighting of BBB issuers. Intermediate maturities were emphasized, as was diversification. This was done to protect the Fund from unexpected credit events, so few holdings exceeded one-half of one percent of the Fund’s value. The extreme diversification proved unnecessary, but will be maintained going forward as part of our risk control.
For the six months ended June 30, 2014, the Bond Fund returned 5.08% before expenses and 4.84% after expenses. This compares favorably to the Barclays Capital U.S. Aggregate Bond Index, which returned 3.93% for the period. The Fund’s emphasis on higher-yielding corporate issues was a major contributor to its outperformance.
12
MUTUAL OF AMERICA INVESTMENT CORPORATION
ASSET ALLOCATIONS AS OF JUNE 30, 2014 (Unaudited)
Equity Index Fund
All America Fund
Small Cap Value Fund
Small Cap Growth Fund
Mid Cap Value Fund
Mid-Cap Equity Index Fund
13
MUTUAL OF AMERICA INVESTMENT CORPORATION
ASSET ALLOCATIONS AS OF JUNE 30, 2014 (Unaudited) (Continued)
International Fund
Composite Fund
Retirement Income Fund
2010 Retirement Fund
2015 Retirement Fund
2020 Retirement Fund
14
MUTUAL OF AMERICA INVESTMENT CORPORATION
ASSET ALLOCATIONS AS OF JUNE 30, 2014 (Unaudited) (Continued)
2025 Retirement Fund
2030 Retirement Fund
2035 Retirement Fund
2040 Retirement Fund
2045 Retirement Fund
2050 Retirement Fund
15
MUTUAL OF AMERICA INVESTMENT CORPORATION
ASSET ALLOCATIONS AS OF JUNE 30, 2014 (Unaudited) (Continued)
Conservative Allocation Fund
Moderate Allocation Fund
Aggressive Allocation Fund
Money Market Fund
Mid-Term Bond Fund
Bond Fund
16
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXAMPLE
As a shareholder of one of the Mutual of America Investment Corporation Funds, you incur ongoing costs, including management fees and other Fund expenses. You do not incur transactional costs, such as sales charges (loads), redemption fees or exchange fees.
This Example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund 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 January 1, 2014 and held for the entire period ending June 30, 2014.
ACTUAL EXPENSES
The first line of the tables below provides information about actual account values and actual expenses. You may use the information in this line, 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 first line 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 second line of the tables below provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’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 the ongoing costs of investing in the Fund with other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning other funds, which may also charge transactional costs, such as sales charges (loads), redemption fees or exchange fees.
Equity Index Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,034.50 | $0.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,023.76 | $0.85 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.17%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
All America Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,029.14 | $2.41 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.18 | $2.41 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.48%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
17
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
Small Cap Value Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,019.50 | $4.06 | |||||||||||||
Hypothetical | $1,000.00 | $1,020.50 | $4.06 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.81%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
Small Cap Growth Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,005.47 | $4.18 | |||||||||||||
Hypothetical | $1,000.00 | $1,020.34 | $4.21 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.84%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
Mid Cap Value Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,044.38 | $3.24 | |||||||||||||
Hypothetical | $1,000.00 | $1,021.36 | $3.21 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.64%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
Mid-Cap Equity Index Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,036.43 | $0.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,023.76 | $0.85 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.17%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
18
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
International Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,020.48 | $1.75 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.84 | $1.76 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.35% (reflecting direct expenses and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, and multiplied by 181/365 (to reflect the one-half year period). |
Composite Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,027.49 | $2.41 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.18 | $2.41 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.48%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
Retirement Income Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,022.19 | $2.11 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.48 | $2.11 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.42% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2010 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,024.38 | $1.91 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.69 | $1.91 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.38% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
19
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
2015 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,025.60 | $1.96 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.64 | $1.96 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.39% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2020 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,026.43 | $1.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.74 | $1.86 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.37% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2025 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,027.88 | $1.81 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.79 | $1.81 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.36% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2030 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,028.85 | $1.76 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.84 | $1.76 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.35% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
20
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
2035 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,028.85 | $1.71 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.89 | $1.71 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.34% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2040 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,028.12 | $1.81 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.79 | $1.81 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.36% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2045 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,027.44 | $1.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.74 | $1.86 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.37% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
2050 Retirement Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,027.15 | $1.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.74 | $1.86 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.37% (reflecting direct investment management fees and the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
21
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
Conservative Allocation Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,023.85 | $1.86 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.74 | $1.86 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.37% (reflecting the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, and multiplied by 181/365 (to reflect the one-half year period). |
Moderate Allocation Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,028.08 | $1.51 | |||||||||||||
Hypothetical | $1,000.00 | $1,023.10 | $1.50 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.30% (reflecting the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, and multiplied by 181/365 (to reflect the one-half year period). |
Aggressive Allocation Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,029.04 | $1.51 | |||||||||||||
Hypothetical | $1,000.00 | $1,023.10 | $1.50 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.30% (reflecting the proportional expense ratios of the underlying funds in which the Fund invests), multiplied by the average account value over the period, and multiplied by 181/365 (to reflect the one-half year period). |
Money Market Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $999.65 | $1.09 | |||||||||||||
Hypothetical | $1,000.00 | $1,023.50 | $1.10 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.22%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
22
MUTUAL OF AMERICA INVESTMENT CORPORATION
EXPENSE EXAMPLE (Unaudited) (Continued)
Mid-Term Bond Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,014.16 | $2.40 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.18 | $2.41 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.48%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
Bond Fund | ||||||||||||||||
Beginning Account Value January 1, 2014 | Ending Account Value June 30, 2014 | Expenses Paid During Period* January 1 to June 30, 2014 | ||||||||||||||
Actual | $1,000.00 | $1,023.85 | $2.36 | |||||||||||||
Hypothetical | $1,000.00 | $1,022.23 | $2.36 |
* | Expenses are equal to the Fund’s annual expense ratio of 0.47%, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). |
23
MUTUAL OF AMERICA INVESTMENT CORPORATION — EQUITY INDEX FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (11.5%) | ||||||||
Amazon.com, Inc.* | 33,155 | $ | 10,768,081 | |||||
Comcast Corp. Cl A | 231,254 | 12,413,715 | ||||||
Disney (Walt) Co. | 143,265 | 12,283,541 | ||||||
Home Depot, Inc. | 121,678 | 9,851,051 | ||||||
McDonald’s Corp. | 87,921 | 8,857,162 | ||||||
Other Securities | 2,390,356 | 129,269,080 | ||||||
|
| |||||||
183,442,630 | ||||||||
|
| |||||||
CONSUMER STAPLES (9.3%) | ||||||||
Altria Group, Inc. | 176,697 | 7,410,672 | ||||||
Coca-Cola Co. | 336,220 | 14,242,279 | ||||||
CVS Caremark Corp. | 104,003 | 7,838,706 | ||||||
PepsiCo, Inc. | 134,839 | 12,046,516 | ||||||
Philip Morris Int’l., Inc. | 139,909 | 11,795,728 | ||||||
Proctor & Gamble Co. | 240,697 | 18,916,377 | ||||||
Wal-Mart Stores, Inc. | 143,371 | 10,762,861 | ||||||
Other Securities | 1,096,973 | 64,252,997 | ||||||
|
| |||||||
147,266,136 | ||||||||
|
| |||||||
ENERGY (10.6%) | ||||||||
Chevron Corp. | 169,331 | 22,106,162 | ||||||
ConocoPhillips | 109,204 | 9,362,059 | ||||||
Exxon Mobil Corp. | 381,986 | 38,458,348 | ||||||
Occidental Petroleum Corp. | 69,880 | 7,171,784 | ||||||
Schlumberger Ltd. | 115,830 | 13,662,149 | ||||||
Other Securities | 1,212,221 | 77,319,529 | ||||||
|
| |||||||
168,080,031 | ||||||||
|
| |||||||
FINANCIALS (15.7%) | ||||||||
American Express Co. | 80,980 | 7,682,573 | ||||||
American Int’l. Group, Inc. | 128,680 | 7,023,354 | ||||||
Bank of America Corp. | 935,433 | 14,377,605 | ||||||
Berkshire Hathaway, Inc. Cl B* | 160,155 | 20,269,217 | ||||||
Citigroup, Inc. | 270,213 | 12,727,032 | ||||||
JPMorgan Chase & Co. | 336,651 | 19,397,831 | ||||||
Wells Fargo & Co. | 426,342 | 22,408,536 | ||||||
Other Securities | 2,871,361 | 145,720,958 | ||||||
|
| |||||||
249,607,106 | ||||||||
|
| |||||||
HEALTH CARE (13.0%) | ||||||||
AbbVie, Inc. | 141,412 | 7,981,293 | ||||||
Amgen, Inc. | 67,337 | 7,970,681 | ||||||
Bristol-Myers Squibb Co. | 147,407 | 7,150,714 | ||||||
Gilead Sciences, Inc.* | 136,599 | 11,325,423 | ||||||
Johnson & Johnson | 251,649 | 26,327,518 |
Shares | Value | |||||||
INDEXED ASSETS (CONTINUED): | ||||||||
COMMON STOCKS (CONTINUED): | ||||||||
HEALTH CARE (CONTINUED) | ||||||||
Merck & Co., Inc. | 259,946 | $ | 15,037,876 | |||||
Pfizer, Inc. | 567,389 | 16,840,106 | ||||||
UnitedHealth Group, Inc. | 87,159 | 7,125,248 | ||||||
Other Securities | 1,360,775 | 106,520,871 | ||||||
|
| |||||||
206,279,730 | ||||||||
|
| |||||||
INDUSTRIALS (10.2%) | ||||||||
3M Co. | 55,288 | 7,919,453 | ||||||
Boeing Co. | 59,675 | 7,592,450 | ||||||
General Electric Co. | 891,974 | 23,441,077 | ||||||
Precision Castparts Corp. | 12,876 | 3,249,902 | ||||||
Union Pacific Corp. | 80,574 | 8,037,257 | ||||||
United Technologies Corp. | 75,020 | 8,661,059 | ||||||
Other Securities | 1,440,595 | 103,726,419 | ||||||
|
| |||||||
162,627,617 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (18.3%) | ||||||||
Apple, Inc. | 536,341 | 49,842,164 | ||||||
Cisco Systems, Inc. | 455,666 | 11,323,300 | ||||||
Facebook, Inc. Cl A* | 152,969 | 10,293,284 | ||||||
Google, Inc. Cl A* | 25,199 | 14,733,099 | ||||||
Google, Inc. Cl C* | 25,199 | 14,496,481 | ||||||
Int’l. Business Machines Corp. | 84,633 | 15,341,424 | ||||||
Intel Corp. | 442,796 | 13,682,396 | ||||||
Microsoft Corp. | 668,637 | 27,882,163 | ||||||
Oracle Corp. | 305,398 | 12,377,781 | ||||||
QUALCOMM, Inc. | 150,138 | 11,890,930 | ||||||
Visa, Inc. Cl A | 44,715 | 9,421,898 | ||||||
Other Securities | 2,303,779 | 100,216,137 | ||||||
|
| |||||||
291,501,057 | ||||||||
|
| |||||||
MATERIALS (3.4%) | ||||||||
Other Securities | 862,400 | 54,264,192 | ||||||
|
| |||||||
TELECOMMUNICATION SERVICES (2.3%) |
| |||||||
AT&T, Inc. | 461,521 | 16,319,383 | ||||||
Verizon Communications, Inc. | 368,357 | 18,023,708 | ||||||
Other Securities | 193,707 | 2,898,856 | ||||||
|
| |||||||
37,241,947 | ||||||||
|
| |||||||
UTILITIES (3.1%) | ||||||||
Other Securities | 1,013,336 | 48,837,538 | ||||||
|
| |||||||
TOTAL INDEXED ASSETS-COMMON STOCKS |
| |||||||
(Cost: $933,757,901) 97.4% | $ | 1,549,147,984 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
24
MUTUAL OF AMERICA INVESTMENT CORPORATION — EQUITY INDEX FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
U.S. GOVERNMENT (0.4%) | ||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.02 - 0.03 | 07/10/14 - 08/21/14 | $ | 5,500,000 | $ | 5,499,908 | |||||||
|
| |||||||||||||
COMMERCIAL PAPER (2.2%) | ||||||||||||||
Air Products & Chemicals† | A-1 | 0.09 | 07/16/14 | 1,500,000 | 1,499,944 | |||||||||
Alabama Power Co.† | A-1 | 0.10 | 07/07/14 | 9,000,000 | 8,999,850 | |||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | 3,600,000 | 3,600,000 | |||||||||
Int’l. Business Machines Corp.† | A-1+ | 0.10 | 09/10/14 | 2,150,000 | 2,149,576 | |||||||||
National Rural Utilities | A-1 | 0.09 | 07/15/14 | 1,600,000 | 1,599,944 | |||||||||
Piedmont Natural Gas Co.† | A-1 | 0.11 | 07/01/14 - 07/02/14 | 5,700,000 | 5,699,994 | |||||||||
Precision Castparts Corp.† | A-1 | 0.06 | 07/01/14 | 6,400,000 | 6,400,000 | |||||||||
Wisconsin Power & Light | A-1 | 0.07 | 07/01/14 | 5,500,000 | 5,500,000 | |||||||||
|
| |||||||||||||
35,449,308 | ||||||||||||||
|
| |||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 40,949,216 | ||||||||||||
|
| |||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 375,600 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 1,590,472,800 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS 0.0% (3) |
| 433,199 | ||||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 1,590,905,999 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
25
MUTUAL OF AMERICA INVESTMENT CORPORATION — ALL AMERICA FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: |
| |||||||
CONSUMER DISCRETIONARY (6.9%) |
| |||||||
Amazon.com, Inc.* | 3,999 | $ | 1,298,795 | |||||
Comcast Corp. Cl A | 27,888 | 1,497,028 | ||||||
Disney (Walt) Co. | 17,277 | 1,481,330 | ||||||
Home Depot, Inc. | 14,674 | 1,188,007 | ||||||
McDonald’s Corp. | 10,603 | 1,068,146 | ||||||
Starbucks Corp. | 8,076 | 624,921 | ||||||
Other Securities | 280,187 | 14,964,048 | ||||||
|
| |||||||
22,122,275 | ||||||||
|
| |||||||
CONSUMER STAPLES (5.5%) |
| |||||||
Coca-Cola Co. | 40,546 | 1,717,529 | ||||||
PepsiCo, Inc. | 16,261 | 1,452,758 | ||||||
Philip Morris Int’l., Inc. | 16,872 | 1,422,478 | ||||||
Proctor & Gamble Co. | 29,026 | 2,281,153 | ||||||
Wal-Mart Stores, Inc. | 17,290 | 1,297,960 | ||||||
Other Securities | 166,136 | 9,587,281 | ||||||
|
| |||||||
17,759,159 | ||||||||
|
| |||||||
ENERGY (6.3%) |
| |||||||
Chevron Corp. | 20,420 | 2,665,831 | ||||||
EOG Resources, Inc. | 5,862 | 685,033 | ||||||
Exxon Mobil Corp. | 46,064 | 4,637,719 | ||||||
Halliburton Co. | 9,058 | 643,209 | ||||||
Occidental Petroleum Corp. | 8,426 | 864,760 | ||||||
Schlumberger Ltd. | 13,968 | 1,647,526 | ||||||
Other Securities | 144,427 | 9,124,653 | ||||||
|
| |||||||
20,268,731 | ||||||||
|
| |||||||
FINANCIALS (9.3%) |
| |||||||
American Int’l. Group, Inc. | 15,518 | 846,972 | ||||||
Bank of America Corp. | 112,804 | 1,733,797 | ||||||
Berkshire Hathaway, Inc. Cl B* | 19,313 | 2,444,253 | ||||||
Capital One Financial Corp. | 6,131 | 506,421 | ||||||
Citigroup, Inc. | 32,586 | 1,534,801 | ||||||
Goldman Sachs Group, Inc. | 4,460 | 746,782 | ||||||
JPMorgan Chase & Co. | 40,597 | 2,339,199 | ||||||
MetLife, Inc. | 12,071 | 670,665 | ||||||
Wells Fargo & Co. | 51,413 | 2,702,267 | ||||||
Other Securities | 333,342 | 16,571,002 | ||||||
|
| |||||||
30,096,159 | ||||||||
|
| |||||||
HEALTH CARE (7.7%) |
| |||||||
Biogen Idec, Inc.* | 2,544 | 802,149 | ||||||
Celgene Corp.* | 8,592 | 737,881 | ||||||
Gilead Sciences, Inc.* | 16,472 | 1,365,694 |
Shares | Value | |||||||
INDEXED ASSETS (CONTINUED): | ||||||||
COMMON STOCKS (CONTINUED): |
| |||||||
HEALTH CARE (CONTINUED) |
| |||||||
Johnson & Johnson | 30,346 | $ | 3,174,794 | |||||
Merck & Co., Inc. | 31,347 | 1,813,424 | ||||||
Pfizer, Inc. | 68,422 | 2,030,765 | ||||||
UnitedHealth Group, Inc. | 10,510 | 859,193 | ||||||
Other Securities | 195,909 | 14,090,848 | ||||||
|
| |||||||
24,874,748 | ||||||||
|
| |||||||
INDUSTRIALS (6.1%) |
| |||||||
Boeing Co. | 7,196 | 915,547 | ||||||
General Electric Co. | 107,565 | 2,826,803 | ||||||
Precision Castparts Corp. | 1,552 | 391,725 | ||||||
Roper Industries, Inc. | 1,070 | 156,231 | ||||||
Union Pacific Corp. | 9,717 | 969,271 | ||||||
Other Securities | 188,357 | 14,350,711 | ||||||
|
| |||||||
19,610,288 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.9%) |
| |||||||
Apple, Inc. | 64,677 | 6,010,429 | ||||||
Cisco Systems, Inc. | 54,950 | 1,365,508 | ||||||
Facebook, Inc. Cl A* | 18,447 | 1,241,299 | ||||||
Google, Inc. Cl A* | 3,039 | 1,776,812 | ||||||
Google, Inc. Cl C* | 3,039 | 1,748,276 | ||||||
Int’l. Business Machines Corp. | 10,206 | 1,850,042 | ||||||
Intel Corp. | 53,398 | 1,649,998 | ||||||
MasterCard, Inc. Cl A | 10,778 | 791,860 | ||||||
Microsoft Corp. | 80,631 | 3,362,308 | ||||||
Oracle Corp. | 36,829 | 1,492,679 | ||||||
QUALCOMM, Inc. | 18,106 | 1,433,995 | ||||||
Other Securities | 272,434 | 12,429,565 | ||||||
|
| |||||||
35,152,771 | ||||||||
|
| |||||||
MATERIALS (2.0%) |
| |||||||
Other Securities | 104,002 | 6,544,274 | ||||||
|
| |||||||
TELECOMMUNICATION SERVICES (1.4%) |
| |||||||
AT&T, Inc. | 55,654 | 1,967,925 | ||||||
Verizon Communications, Inc. | 44,421 | 2,173,520 | ||||||
Other Securities | 23,360 | 349,586 | ||||||
|
| |||||||
4,491,031 | ||||||||
|
| |||||||
UTILITIES (1.8%) |
| |||||||
Other Securities | 122,206 | 5,889,695 | ||||||
|
| |||||||
TOTAL INDEXED ASSETS-COMMON STOCKS |
| |||||||
(Cost: $130,059,451) 57.9% | $ | 186,809,131 | ||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||||
INDEXED ASSETS: | ||||||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||||
U.S. GOVERNMENT (0.1%) | ||||||||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.01 | 08/21/14 | $ | 200,000 | $ | 199,997 | |||||||||||||
|
| |||||||||||||||||||
COMMERCIAL PAPER (0.3%) | ||||||||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 1,000,000 | 1,000,000 | |||||||||||||||
|
| |||||||||||||||||||
TOTAL INDEXED ASSETS-SHORT-TERM DEBT SECURITIES |
| 1,199,997 | ||||||||||||||||||
|
| |||||||||||||||||||
TOTAL INDEXED ASSETS |
| $ | 188,009,128 | |||||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
26
MUTUAL OF AMERICA INVESTMENT CORPORATION — ALL AMERICA FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Shares | Value | |||||||
ACTIVE ASSETS: | ||||||||
COMMON STOCKS: |
| |||||||
CONSUMER DISCRETIONARY (4.9%) | ||||||||
Amazon.com, Inc.* | 2,475 | $ | 803,831 | |||||
Disney (Walt) Co. | 11,399 | 977,350 | ||||||
Home Depot, Inc. | 7,734 | 626,145 | ||||||
McDonald’s Corp. | 6,515 | 656,321 | ||||||
Starbucks Corp. | 8,369 | 647,593 | ||||||
Other Securities | 377,411 | 11,935,611 | ||||||
|
| |||||||
15,646,851 | ||||||||
|
| |||||||
CONSUMER STAPLES (2.6%) | ||||||||
Coca-Cola Co. | 10,875 | 460,665 | ||||||
PepsiCo, Inc. | 7,058 | 630,562 | ||||||
Philip Morris Int’l., Inc. | 4,716 | 397,606 | ||||||
Proctor & Gamble Co. | 12,315 | 967,836 | ||||||
Wal-Mart Stores, Inc. | 9,917 | 744,469 | ||||||
Other Securities | 143,662 | 5,027,515 | ||||||
|
| |||||||
8,228,653 | ||||||||
|
| |||||||
ENERGY (3.7%) | ||||||||
Chevron Corp. | 5,030 | 656,667 | ||||||
EOG Resources, Inc. | 5,444 | 636,186 | ||||||
Exxon Mobil Corp. | 20,307 | 2,044,509 | ||||||
Halliburton Co. | 12,513 | 888,548 | ||||||
Occidental Petroleum Corp. | 5,923 | 607,877 | ||||||
Other Securities | 292,306 | 7,042,349 | ||||||
|
| |||||||
11,876,136 | ||||||||
|
| |||||||
FINANCIALS (7.7%) | ||||||||
American Int’l. Group, Inc. | 11,571 | 631,545 | ||||||
Bank of America Corp. | 41,917 | 644,264 | ||||||
Berkshire Hathaway, Inc. Cl B* | 4,705 | 595,465 | ||||||
Capital One Financial Corp. | 11,278 | 931,563 | ||||||
Citigroup, Inc. | 11,032 | 519,607 | ||||||
Goldman Sachs Group, Inc. | 3,872 | 648,328 | ||||||
JPMorgan Chase & Co. | 24,967 | 1,438,599 | ||||||
MetLife, Inc. | 11,439 | 635,551 | ||||||
Wells Fargo & Co. | 24,266 | 1,275,421 | ||||||
Other Securities | 657,238 | 17,354,007 | ||||||
|
| |||||||
24,674,350 | ||||||||
|
| |||||||
HEALTH CARE (5.5%) | ||||||||
Biogen Idec, Inc.* | 1,703 | 536,973 | ||||||
Celgene Corp.* | 10,554 | 906,378 | ||||||
Gilead Sciences, Inc.* | 11,494 | 952,968 | ||||||
Merck & Co., Inc. | 17,492 | 1,011,912 | ||||||
Pfizer, Inc. | 40,982 | 1,216,346 | ||||||
UnitedHealth Group, Inc. | 4,884 | 399,267 | ||||||
Other Securities | 456,552 | 12,774,966 | ||||||
|
| |||||||
17,798,810 | ||||||||
|
|
Shares | Value | |||||||
ACTIVE ASSETS (CONTINUED): | ||||||||
COMMON STOCKS (CONTINUED): | ||||||||
INDUSTRIALS (5.0%) | ||||||||
Boeing Co. | 8,402 | $ | 1,068,986 | |||||
General Electric Co. | 37,205 | 977,747 | ||||||
Precision Castparts Corp. | 3,349 | 845,288 | ||||||
Roper Industries, Inc. | 8,544 | 1,247,509 | ||||||
Union Pacific Corp. | 5,976 | 596,106 | ||||||
Other Securities | 320,610 | 11,433,524 | ||||||
|
| |||||||
16,169,160 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (6.8%) | ||||||||
Apple, Inc. | 30,065 | 2,793,939 | ||||||
Cisco Systems, Inc. | 22,656 | 563,002 | ||||||
Facebook, Inc. Cl A* | 8,137 | 547,539 | ||||||
Google, Inc. Cl A* | 1,134 | 663,016 | ||||||
Google, Inc. Cl C* | 1,134 | 652,368 | ||||||
MasterCard, Inc. Cl A | 6,470 | 475,351 | ||||||
Microsoft Corp. | 25,940 | 1,081,698 | ||||||
Oracle Corp. | 16,326 | 661,693 | ||||||
QUALCOMM, Inc. | 9,230 | 731,016 | ||||||
Other Securities | 452,321 | 13,866,378 | ||||||
|
| |||||||
22,036,000 | ||||||||
|
| |||||||
MATERIALS (1.9%) | ||||||||
Other Securities | 153,351 | 5,966,645 | ||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||
AT&T, Inc. | 21,988 | 777,496 | ||||||
Verizon Communications, Inc. | 9,334 | 456,713 | ||||||
Other Securities | 19,754 | 410,250 | ||||||
|
| |||||||
1,644,459 | ||||||||
|
| |||||||
UTILITIES (1.3%) | ||||||||
Other Securities | 85,434 | 4,187,251 | ||||||
|
| |||||||
TOTAL ACTIVE ASSETS-COMMON STOCKS | $ | 128,228,315 | ||||||
|
| |||||||
ACTIVE ASSETS: | ||||||||
CONVERTIBLE PREFERRED STOCKS: | ||||||||
ENERGY (0.0%) (3) | ||||||||
Energy XXI (Bermuda) | 556 | 143,755 | ||||||
|
| |||||||
TOTAL ACTIVE ASSETS-CONVERTIBLE | $ | 143,755 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
27
MUTUAL OF AMERICA INVESTMENT CORPORATION — ALL AMERICA FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
ACTIVE ASSETS: | ||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (1.0%) | ||||||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/18/14 - 08/19/14 | $ | 2,700,000 | $ | 2,699,600 | |||||||
Toyota Motor Credit Corp. | A-1+ | 0.12 | 07/16/14 | 500,000 | 499,975 | |||||||||
|
| |||||||||||||
3,199,575 | ||||||||||||||
|
| |||||||||||||
TOTAL ACTIVE ASSETS-SHORT-TERM DEBT SECURITIES |
| 3,199,575 | ||||||||||||
|
| |||||||||||||
TOTAL ACTIVE ASSETS |
| 131,571,645 | ||||||||||||
|
| |||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 1,215,000 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 320,795,773 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS 0.4% |
| 1,285,652 | ||||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 322,081,425 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
28
MUTUAL OF AMERICA INVESTMENT CORPORATION — SMALL CAP VALUE FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.8%) | ||||||||
Bassett Furniture Industries, Inc. | 332,583 | $ | 4,376,792 | |||||
Diamond Resorts Int’l., Inc.* | 288,981 | 6,724,588 | ||||||
Houghton Mifflin Harcourt Co.* | 220,073 | 4,216,599 | ||||||
Wolverine World Wide, Inc. | 127,806 | 3,330,624 | ||||||
Other Securities | 692,196 | 11,298,474 | ||||||
|
| |||||||
29,947,077 | ||||||||
|
| |||||||
CONSUMER STAPLES (3.1%) | ||||||||
Crimson Wine Group Ltd.* | 350,956 | 3,176,152 | ||||||
Farmer Brothers Co.* | 148,252 | 3,203,726 | ||||||
The Pantry, Inc.* | 206,504 | 3,345,365 | ||||||
Other Securities | 107,317 | 2,219,316 | ||||||
|
| |||||||
11,944,559 | ||||||||
|
| |||||||
ENERGY (7.2%) | ||||||||
Carrizo Oil and Gas, Inc.* | 101,265 | 7,013,610 | ||||||
Energy XXI (Bermuda) Ltd. | 244,364 | 5,774,321 | ||||||
PBF Energy, Inc. | 182,486 | 4,863,252 | ||||||
Other Securities | 1,723,448 | 10,214,631 | ||||||
|
| |||||||
27,865,814 | ||||||||
|
| |||||||
FINANCIALS (35.0%) | ||||||||
Banner Corp. | 75,099 | 2,976,173 | ||||||
Chesapeake Lodging Trust | 132,737 | 4,012,640 | ||||||
Ellington Financial LLC | 225,399 | 5,409,576 | ||||||
FelCor Lodging Trust, Inc. | 452,871 | 4,759,674 | ||||||
First Interstate BancSytem, Inc. | 127,917 | 3,476,784 | ||||||
Forest City Enterprises, Inc. Cl A* | 214,248 | 4,257,108 | ||||||
Glacier Bancorp, Inc. | 141,273 | 4,009,328 | ||||||
Highwoods Properties, Inc. | 85,935 | 3,604,973 | ||||||
Investors Bancorp, Inc. | 288,032 | 3,182,754 | ||||||
Janus Capital Group, Inc. | 244,221 | 3,047,878 | ||||||
MB Financial, Inc. | 117,452 | 3,177,077 | ||||||
Meadowbrook Insurance Group, Inc. | 440,568 | 3,167,684 | ||||||
PrivateBancorp, Inc. | 108,758 | 3,160,507 | ||||||
ProAssurance Corp. | 75,802 | 3,365,609 | ||||||
Prosperity Bancshares, Inc. | 54,395 | 3,405,127 | ||||||
Select Income REIT | 139,884 | 4,146,162 | ||||||
Stock Yards Bancorp, Inc. | 108,349 | 3,239,635 | ||||||
SVB Financial Group* | 46,230 | 5,391,343 | ||||||
Symetra Financial Corp. | 222,707 | 5,064,357 | ||||||
UMB Financial Corp. | 48,713 | 3,087,917 | ||||||
Other Securities | 2,674,344 | 58,856,221 | ||||||
|
| |||||||
134,798,527 | ||||||||
|
| |||||||
HEALTH CARE (4.5%) | ||||||||
QLT, Inc.* | 517,222 | 3,196,432 | ||||||
Supernus Pharmaceuticals, Inc.* | 325,058 | 3,559,385 |
Shares | Value | |||||||
COMMON STOCKS (CONTINUED): | ||||||||
HEALTH CARE (CONTINUED) | ||||||||
Other Securities | 996,056 | $ | 10,586,320 | |||||
|
| |||||||
17,342,137 | ||||||||
|
| |||||||
INDUSTRIALS (13.1%) | ||||||||
Alaska Air Group, Inc. | 47,214 | 4,487,691 | ||||||
AZZ, Inc. | 97,385 | 4,487,501 | ||||||
Blount International, Inc.* | 266,123 | 3,754,996 | ||||||
Encore Wire Corp. | 77,117 | 3,781,818 | ||||||
EnPro Industries, Inc.* | 52,160 | 3,816,026 | ||||||
Miller Industries, Inc. | 213,048 | 4,384,528 | ||||||
Mueller Industries, Inc. | 269,326 | 7,920,873 | ||||||
Old Dominion Freight Line, Inc.* | 104,509 | 6,655,133 | ||||||
Orbital Sciences Corp.* | 135,223 | 3,995,840 | ||||||
Other Securities | 452,273 | 7,404,856 | ||||||
|
| |||||||
50,689,262 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (9.5%) | ||||||||
Anixter International, Inc. | 32,844 | 3,286,699 | ||||||
Richardson Electronics Ltd. | 468,314 | 4,903,248 | ||||||
Other Securities | 1,436,100 | 28,431,439 | ||||||
|
| |||||||
36,621,386 | ||||||||
|
| |||||||
MATERIALS (6.6%) | ||||||||
Crown Hldgs., Inc.* | 106,372 | 5,293,071 | ||||||
Kaiser Aluminum Corp. | 83,329 | 6,072,184 | ||||||
Silgan Hldgs., Inc. | 66,468 | 3,377,904 | ||||||
Other Securities | 441,148 | 10,507,153 | ||||||
|
| |||||||
25,250,312 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.8%) | ||||||||
Other Securities | 145,927 | 2,908,257 | ||||||
|
| |||||||
UTILITIES (6.3%) | ||||||||
Avista Corp. | 132,659 | 4,446,730 | ||||||
Idacorp, Inc. | 68,661 | 3,970,666 | ||||||
PNM Resources, Inc. | 117,820 | 3,455,661 | ||||||
UNS Energy Corp. | 64,348 | 3,887,263 | ||||||
Other Securities | 185,134 | 8,607,976 | ||||||
|
| |||||||
24,368,296 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost: $270,813,992) 93.9% | $ | 361,735,627 | ||||||
|
| |||||||
CONVERTIBLE PREFERRED STOCKS: | ||||||||
ENERGY (0.3%) | ||||||||
Energy XXI (Bermuda) Ltd., 7.25% | 4,255 | 1,100,139 | ||||||
|
| |||||||
TOTAL CONVERTIBLE PREFERRED STOCKS | ||||||||
(Cost: $425,500) 0.3% | $ | 1,100,139 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
29
MUTUAL OF AMERICA INVESTMENT CORPORATION — SMALL CAP VALUE FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (5.6%) | ||||||||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | $ | 9,000,000 | $ | 9,000,000 | |||||||
Precision Castparts Corp.† | A-1 | 0.08 | 07/23/14 | 1,900,000 | 1,899,907 | |||||||||
Questar Corp.† | A-1 | 0.09 | 07/11/14 | 1,400,000 | 1,399,965 | |||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 9,200,000 | 9,200,000 | |||||||||
|
| |||||||||||||
21,499,872 | ||||||||||||||
|
| |||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 21,499,872 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 384,335,638 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS 0.2% |
| 616,559 | ||||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 384,952,197 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
30
MUTUAL OF AMERICA INVESTMENT CORPORATION — SMALL CAP GROWTH FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (14.3%) |
| |||||||
Bally Technologies, Inc.* | 52,785 | $ | 3,469,030 | |||||
Cooper Tire & Rubber Co. | 97,600 | 2,928,000 | ||||||
Deckers Outdoor Corp.* | 77,812 | 6,717,510 | ||||||
Drew Industries, Inc. | 60,115 | 3,006,351 | ||||||
Haverty Furniture Cos., Inc. | 138,843 | 3,489,125 | ||||||
Popeyes Louisiana Kitchen, Inc.* | 179,155 | 7,830,861 | ||||||
Red Robin Gourmet Burgers, Inc.* | 55,712 | 3,966,694 | ||||||
Steve Madden Ltd.* | 103,299 | 3,543,156 | ||||||
Other Securities | 1,193,593 | 22,518,272 | ||||||
|
| |||||||
57,468,999 | ||||||||
|
| |||||||
CONSUMER STAPLES (4.4%) |
| |||||||
Hain Celestial Group, Inc.* | 36,512 | 3,240,075 | ||||||
Spectrum Brands Hldgs., Inc. | 33,292 | 2,864,111 | ||||||
Susser Hldgs. Corp.* | 50,347 | 4,064,010 | ||||||
Other Securities | 230,295 | 7,369,681 | ||||||
|
| |||||||
17,537,877 | ||||||||
|
| |||||||
ENERGY (5.6%) |
| |||||||
Kodiak Oil & Gas Corp.* | 212,043 | 3,085,226 | ||||||
Sanchez Energy Corp.* | 77,058 | 2,896,610 | ||||||
Targa Resources Corp. | 34,985 | 4,882,856 | ||||||
Other Securities | 475,486 | 11,751,513 | ||||||
|
| |||||||
22,616,205 | ||||||||
|
| |||||||
FINANCIALS (7.8%) |
| |||||||
iShares Micro-Cap ETF | 33,161 | 2,524,215 | ||||||
iShares Russell 2000 Growth ETF | 12,500 | 1,730,250 | ||||||
Other Securities | 1,177,282 | 26,936,830 | ||||||
|
| |||||||
31,191,295 | ||||||||
|
| |||||||
HEALTH CARE (19.8%) |
| |||||||
Abiomed, Inc.* | 124,494 | 3,129,779 | ||||||
Cubist Pharmaceuticals, Inc.* | 55,234 | 3,856,438 | ||||||
DexCom, Inc.* | 88,032 | 3,491,349 | ||||||
Emergent Biosolutions, Inc.* | 145,010 | 3,256,925 | ||||||
Insulet Corp.* | 73,059 | 2,898,251 | ||||||
PAREXEL International Corp.* | 60,178 | 3,179,806 | ||||||
Supernus Pharmaceuticals, Inc.* | 355,272 | 3,890,228 | ||||||
Other Securities | 1,850,486 | 56,192,212 | ||||||
|
| |||||||
79,894,988 | ||||||||
|
| |||||||
INDUSTRIALS (14.1%) |
| |||||||
Allegiant Travel Co. | 25,697 | 3,026,336 | ||||||
Astronics Corp.* | 132,510 | 7,480,190 |
Shares | Value | |||||||
COMMON STOCKS (CONTINUED): | ||||||||
INDUSTRIALS (CONTINUED) |
| |||||||
AZZ, Inc. | 71,695 | $ | 3,303,706 | |||||
Corporate Executive Board Co. | 45,178 | 3,082,043 | ||||||
EnPro Industries, Inc.* | 53,028 | 3,879,528 | ||||||
Mueller Water Product, Inc. Cl A | 343,027 | 2,963,753 | ||||||
On Assignment, Inc.* | 155,355 | 5,525,977 | ||||||
Raven Industries, Inc. | 145,919 | 4,835,756 | ||||||
Saia, Inc.* | 84,570 | 3,715,160 | ||||||
Sun Hydraulics Corp. | 82,624 | 3,354,534 | ||||||
Teledyne Technologies, Inc.* | 37,860 | 3,678,856 | ||||||
Other Securities | 492,990 | 11,718,001 | ||||||
|
| |||||||
56,563,840 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (22.5%) |
| |||||||
Anixter International, Inc. | 31,923 | 3,194,535 | ||||||
ARRIS Group, Inc.* | 135,710 | 4,414,646 | ||||||
Brightcove, Inc.* | 285,797 | 3,012,300 | ||||||
CalAmp Corp.* | 188,577 | 4,084,578 | ||||||
Cavium, Inc.* | 109,325 | 5,429,080 | ||||||
comScore, Inc.* | 106,102 | 3,764,499 | ||||||
Electronics for Imaging, Inc.* | 79,508 | 3,593,762 | ||||||
iGATE Corp.* | 138,854 | 5,052,897 | ||||||
LogMeIn, Inc.* | 81,742 | 3,810,812 | ||||||
Monolithic Power Systems, Inc. | 106,802 | 4,523,065 | ||||||
Proofpoint, Inc.* | 89,110 | 3,338,061 | ||||||
PTC, Inc.* | 84,881 | 3,293,383 | ||||||
Rogers Corp.* | 58,271 | 3,866,281 | ||||||
Synaptics, Inc.* | 53,556 | 4,854,316 | ||||||
Other Securities | 1,156,450 | 34,512,893 | ||||||
|
| |||||||
90,745,108 | ||||||||
|
| |||||||
MATERIALS (4.7%) |
| |||||||
A. Schulman, Inc. | 86,648 | 3,353,278 | ||||||
CVR Partners LP | 169,716 | 3,171,992 | ||||||
Resolute Forest Products* | 192,454 | 3,229,378 | ||||||
Other Securities | 270,176 | 8,927,171 | ||||||
|
| |||||||
18,681,819 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.5%) |
| |||||||
Other Securities | 87,775 | 1,952,116 | ||||||
|
| |||||||
UTILITIES (0.7%) | ||||||||
Other Securities | 52,778 | 2,754,484 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost: $292,292,161) 94.4% | $ | 379,406,731 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
31
MUTUAL OF AMERICA INVESTMENT CORPORATION — SMALL CAP GROWTH FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (5.5%) | ||||||||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | $ | 5,200,000 | $ | 5,200,000 | |||||||
National Rural Utilities | A-1 | 0.09 | 07/15/14 | 4,700,000 | 4,699,835 | |||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 5,300,000 | 5,300,000 | |||||||||
Wal-Mart Stores, Inc.† | A-1+ | 0.06 | 07/31/14 | 7,000,000 | 6,999,650 | |||||||||
|
| |||||||||||||
22,199,485 | ||||||||||||||
|
| |||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 22,199,485 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 401,606,216 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS 0.1% |
| 488,355 | ||||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 402,094,571 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
32
MUTUAL OF AMERICA INVESTMENT CORPORATION — MID CAP VALUE FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.6%) |
| |||||||
Diamond Resorts Int’l., Inc.* | 46,929 | $ | 1,092,038 | |||||
Dillard’s, Inc. Cl A | 6,952 | 810,673 | ||||||
Newell Rubbermaid, Inc. | 29,569 | 916,343 | ||||||
TRW Automotive Hldgs. Corp.* | 7,775 | 696,018 | ||||||
Other Securities | 79,327 | 3,116,848 | ||||||
|
| |||||||
6,631,920 | ||||||||
|
| |||||||
CONSUMER STAPLES (3.6%) |
| |||||||
Energizer Hldgs., Inc. | 6,326 | 771,962 | ||||||
Hillshire Brands Co. | 13,730 | 855,379 | ||||||
Other Securities | 45,164 | 1,540,747 | ||||||
|
| |||||||
3,168,088 | ||||||||
|
| |||||||
ENERGY (7.6%) |
| |||||||
Energy XXI (Bermuda) Ltd. | 38,999 | 921,546 | ||||||
Noble Energy, Inc. | 26,091 | 2,021,009 | ||||||
Tesoro Corp. | 16,071 | 942,886 | ||||||
Other Securities | 141,413 | 2,817,484 | ||||||
|
| |||||||
6,702,925 | ||||||||
|
| |||||||
FINANCIALS (30.7%) |
| |||||||
American Financial Group, Inc. | 25,832 | 1,538,554 | ||||||
Ameriprise Financial, Inc. | 13,756 | 1,650,720 | ||||||
Aon PLC | 9,319 | 839,549 | ||||||
Associated Banc-Corp. | 40,187 | 726,581 | ||||||
CBL & Associates Pptys., Inc. | 35,837 | 680,903 | ||||||
Discover Financial Svcs. | 14,717 | 912,160 | ||||||
Duke Realty Corp. | 40,964 | 743,906 | ||||||
Fifth Third Bancorp | 37,386 | 798,191 | ||||||
Hartford Financial Svcs. Group, Inc. | 22,989 | 823,236 | ||||||
Home Properties, Inc. | 11,552 | 738,866 | ||||||
Host Hotels & Resorts, Inc. | 39,475 | 868,845 | ||||||
iShares Russell Mid-Cap Value ETF | 11,940 | 866,963 | ||||||
KeyCorp | 62,787 | 899,738 | ||||||
Lincoln National Corp. | 16,874 | 867,999 | ||||||
Reinsurance Grp. of America, Inc. | 9,913 | 782,136 | ||||||
Vornado Realty Trust | 11,270 | 1,202,847 | ||||||
Voya Financial, Inc. | 21,972 | 798,462 | ||||||
Other Securities | 386,804 | 11,200,292 | ||||||
|
| |||||||
26,939,948 | ||||||||
|
| |||||||
HEALTH CARE (8.7%) |
| |||||||
Agilent Technologies, Inc. | 12,889 | 740,344 | ||||||
Boston Scientific Corp.* | 59,623 | 761,386 |
Shares | Value | |||||||
COMMON STOCKS (CONTINUED): | ||||||||
HEALTH CARE (CONTINUED) |
| |||||||
Cardinal Health, Inc. | 9,818 | $ | 673,122 | |||||
CIGNA Corp. | 9,029 | 830,397 | ||||||
HCA Hldgs., Inc.* | 16,207 | 913,751 | ||||||
Humana, Inc. | 8,003 | 1,022,143 | ||||||
Other Securities | 46,383 | 2,702,892 | ||||||
|
| |||||||
7,644,035 | ||||||||
|
| |||||||
INDUSTRIALS (9.7%) |
| |||||||
L-3 Communications Hldgs., Inc. | 7,263 | 877,007 | ||||||
Old Dominion Freight Line, Inc.* | 15,788 | 1,005,380 | ||||||
Oshkosh Corp. | 19,946 | 1,107,601 | ||||||
Triumph Group, Inc. | 15,905 | 1,110,487 | ||||||
Other Securities | 70,517 | 4,409,442 | ||||||
|
| |||||||
8,509,917 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.7%) |
| |||||||
CA, Inc. | 23,464 | 674,355 | ||||||
Trimble Navigation Ltd.* | 23,756 | 877,784 | ||||||
Western Digital Corp. | 10,024 | 925,215 | ||||||
Other Securities | 203,884 | 6,888,934 | ||||||
|
| |||||||
9,366,288 | ||||||||
|
| |||||||
MATERIALS (7.3%) | ||||||||
Crown Hldgs., Inc.* | 48,458 | 2,411,265 | ||||||
Eastman Chemical Co. | 12,070 | 1,054,315 | ||||||
Packaging Corp. of America | 11,310 | 808,552 | ||||||
Other Securities | 30,224 | 2,109,333 | ||||||
|
| |||||||
6,383,465 | ||||||||
|
| |||||||
UTILITIES (10.7%) |
| |||||||
Ameren Corp. | 25,140 | 1,027,723 | ||||||
Atmos Energy Corp. | 14,668 | 783,271 | ||||||
Edison International | 24,772 | 1,439,501 | ||||||
Great Plains Energy, Inc. | 31,538 | 847,426 | ||||||
ITC Hldgs. Corp. | 19,761 | 720,881 | ||||||
PPL Corp. | 23,713 | 842,523 | ||||||
Public Svc. Enterprise Group, Inc. | 21,550 | 879,025 | ||||||
Sempra Energy | 7,610 | 796,843 | ||||||
Other Securities | 43,341 | 1,995,764 | ||||||
|
| |||||||
9,332,957 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS |
| |||||||
(Cost: $67,688,549) 96.6% | $ | 84,679,543 | ||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||
COMMERCIAL PAPER (1.6%) | ||||||||||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | $ | 600,000 | $ | 599,930 | |||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/08/14 | 800,000 | 799,847 | |||||||||||||
|
| |||||||||||||||||
1,399,777 | ||||||||||||||||||
|
| |||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 1,399,777 | ||||||||||||||||
|
| |||||||||||||||||
TOTAL INVESTMENTS |
| 86,079,320 | ||||||||||||||||
|
| |||||||||||||||||
OTHER NET ASSETS 1.8% |
| 1,573,442 | ||||||||||||||||
|
| |||||||||||||||||
NET ASSETS 100.0% |
| $ | 87,652,762 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
33
MUTUAL OF AMERICA INVESTMENT CORPORATION — MID-CAP EQUITY INDEX FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (12.7%) | ||||||||
Advance Auto Parts, Inc. | 41,820 | $ | 5,642,354 | |||||
Foot Locker, Inc. | 83,585 | 4,239,431 | ||||||
Hanesbrands, Inc. | 57,079 | 5,618,857 | ||||||
Jarden Corp.* | 68,777 | 4,081,915 | ||||||
LKQ Corp.* | 173,031 | 4,618,197 | ||||||
Polaris Industries, Inc. | 37,769 | 4,919,035 | ||||||
Signet Jewelers Ltd. | 45,973 | 5,084,154 | ||||||
Other Securities | 2,812,683 | 87,441,208 | ||||||
|
| |||||||
121,645,151 | ||||||||
|
| |||||||
CONSUMER STAPLES (3.4%) | ||||||||
Church & Dwight Co., Inc. | 77,906 | 5,449,525 | ||||||
Energizer Hldgs., Inc. | 35,350 | 4,313,761 | ||||||
Hillshire Brands Co. | 70,325 | 4,381,248 | ||||||
Other Securities | 528,767 | 18,260,897 | ||||||
|
| |||||||
32,405,431 | ||||||||
|
| |||||||
ENERGY (5.1%) | ||||||||
HollyFrontier Corp. | 113,888 | 4,975,767 | ||||||
Oceaneering Int’l., Inc. | 61,908 | 4,836,872 | ||||||
Other Securities | 774,636 | 39,252,173 | ||||||
|
| |||||||
49,064,812 | ||||||||
|
| |||||||
FINANCIALS (21.3%) | ||||||||
Alleghany Corp.* | 9,438 | 4,134,977 | ||||||
Everest Re Group Ltd. | 26,429 | 4,241,590 | ||||||
Federal Realty Investment Trust | 38,562 | 4,662,917 | ||||||
Gallagher (Arthur J.) & Co. | 90,051 | 4,196,377 | ||||||
New York Community Bancorp, Inc. | 253,739 | 4,054,749 | ||||||
Realty Income Corp. | 126,934 | 5,638,408 | ||||||
SL Green Realty Corp | 54,708 | 5,985,602 | ||||||
UDR, Inc. | 144,126 | 4,126,327 | ||||||
Other Securities | 5,008,387 | 168,296,533 | ||||||
|
| |||||||
205,337,480 | ||||||||
|
| |||||||
HEALTH CARE (9.3%) | ||||||||
Endo International PLC* | 80,298 | 5,622,466 | ||||||
Hologic, Inc.* | 158,392 | 4,015,237 | ||||||
IDEXX Laboratories, Inc.* | 29,409 | 3,928,160 | ||||||
Mettler-Toledo Int’l., Inc.* | 16,749 | 4,240,512 | ||||||
Omnicare, Inc. | 56,763 | 3,778,713 | ||||||
ResMed, Inc. | 80,441 | 4,072,728 | ||||||
Salix Pharmaceuticals Ltd.* | 36,347 | 4,483,402 | ||||||
Schein (Henry), Inc.* | 48,932 | 5,806,760 |
Shares | Value | |||||||
INDEXED ASSETS (CONTINUED): | ||||||||
COMMON STOCKS (CONTINUED): | ||||||||
HEALTH CARE (CONTINUED) | ||||||||
Universal Health Svcs., Inc. Cl B | 51,529 | $ | 4,934,417 | |||||
Other Securities | 864,915 | 48,030,185 | ||||||
|
| |||||||
88,912,580 | ||||||||
|
| |||||||
INDUSTRIALS (16.5%) | ||||||||
B/E Aerospace, Inc.* | 56,712 | 5,245,293 | ||||||
Fortune Brands Home & Security, Inc. | 95,185 | 3,800,737 | ||||||
Hubbell, Inc. Cl B | 30,868 | 3,801,394 | ||||||
Hunt (J.B.) Transport Svcs., Inc. | 52,428 | 3,868,138 | ||||||
Kirby Corp.* | 32,665 | 3,826,378 | ||||||
Manpowergroup, Inc. | 45,641 | 3,872,639 | ||||||
Towers Watson & Co. Cl A | 36,671 | 3,822,218 | ||||||
Trinity Industries, Inc. | 88,800 | 3,882,336 | ||||||
United Rentals, Inc.* | 55,757 | 5,839,431 | ||||||
Wabtec Corp. | 55,287 | 4,566,153 | ||||||
Other Securities | 2,263,455 | 116,187,891 | ||||||
|
| |||||||
158,712,608 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (15.9%) | ||||||||
ANSYS, Inc.* | 53,117 | 4,027,331 | ||||||
Equinix, Inc.* | 28,560 | 6,000,172 | ||||||
Skyworks Solutions, Inc. | 108,677 | 5,103,472 | ||||||
Trimble Navigation Ltd.* | 149,542 | 5,525,577 | ||||||
Other Securities | 4,544,605 | 132,650,590 | ||||||
|
| |||||||
153,307,142 | ||||||||
|
| |||||||
MATERIALS (7.4%) | ||||||||
Ashland, Inc. | 41,546 | 4,517,712 | ||||||
Packaging Corp. of America | 56,359 | 4,029,105 | ||||||
Rock-Tenn Co. Cl A | 41,141 | 4,344,078 | ||||||
Other Securities | 1,180,843 | 57,838,183 | ||||||
|
| |||||||
70,729,078 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||
Other Securities | 135,789 | 4,668,117 | ||||||
|
| |||||||
UTILITIES (4.7%) | ||||||||
Alliant Energy Corp. | 63,592 | 3,870,209 | ||||||
MDU Resources Group | 109,832 | 3,855,103 | ||||||
National Fuel Gas Co. | 48,155 | 3,770,537 | ||||||
OGE Energy Corp. | 114,151 | 4,461,021 | ||||||
Other Securities | 786,967 | 29,244,682 | ||||||
|
| |||||||
45,201,552 | ||||||||
|
| |||||||
TOTAL INDEXED ASSETS-COMMON STOCKS | ||||||||
(Cost: $637,679,473) 96.8% | $ | 929,983,951 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
34
MUTUAL OF AMERICA INVESTMENT CORPORATION — MID-CAP EQUITY INDEX FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
U.S. GOVERNMENT (0.5%) | ||||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.03 | 07/10/14 | $ | 5,000,000 | $ | 4,999,966 | |||||||||
|
| |||||||||||||||
COMMERCIAL PAPER (1.7%) | ||||||||||||||||
Alabama Power Co.† | A-1 | 0.10 | 07/07/14 | 3,000,000 | 2,999,950 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/10/14 | 1,500,000 | 1,499,966 | |||||||||||
Precision Castparts Corp.† | A-1 | 0.06 | 07/01/14 | 11,400,000 | 11,400,000 | |||||||||||
|
| |||||||||||||||
15,899,916 | ||||||||||||||||
|
| |||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 20,899,882 | ||||||||||||||
|
| |||||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 300,400 | ||||||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS |
| 951,184,233 | ||||||||||||||
|
| |||||||||||||||
OTHER NET ASSETS 1.0% |
| 9,551,248 | ||||||||||||||
|
| |||||||||||||||
NET ASSETS 100.0% |
| $ | 960,735,481 | |||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
35
MUTUAL OF AMERICA INVESTMENT CORPORATION — INTERNATIONAL FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
FINANCIALS (98.3%) | ||||||||
iShares MSCI EAFE ETF | 1,052,894 | $ | 71,986,363 | |||||
iShares MSCI EAFE Growth ETF | 218,254 | 15,812,502 | ||||||
iShares MSCI EAFE Small-Cap ETF | 166,033 | 8,786,466 | ||||||
iShares MSCI EAFE Value ETF | 265,320 | 15,539,792 | ||||||
iShares MSCI Emerging Markets ETF | 147,035 | 8,832,392 | ||||||
Vanguard FTSE Developed Markets ETF | 2,416,800 | 102,931,513 | ||||||
Vanguard FTSE Europe ETF | 424,630 | 25,456,569 | ||||||
Vanguard FTSE Pacific ETF | 220,480 | 13,722,675 | ||||||
|
| |||||||
263,068,272 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost: $230,515,984) 98.3% | $ | 263,068,272 | ||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||
COMMERCIAL PAPER (1.0%) | ||||||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | $ | 2,600,000 | $ | 2,600,000 | |||||||||||
|
| |||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 2,600,000 | ||||||||||||||||
|
| |||||||||||||||||
TOTAL INVESTMENTS |
| 265,668,272 | ||||||||||||||||
|
| |||||||||||||||||
OTHER NET ASSETS 0.7% |
| 1,741,233 | ||||||||||||||||
|
| |||||||||||||||||
NET ASSETS 100.0% |
| $ | 267,409,505 | |||||||||||||||
|
|
The accompanying notes are an integral part of these financial statements.
36
MUTUAL OF AMERICA INVESTMENT CORPORATION — COMPOSITE FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.6%) | ||||||||
Amazon.com, Inc.* | 4,260 | $ | 1,383,563 | |||||
Disney (Walt) Co. | 19,677 | 1,687,106 | ||||||
Home Depot, Inc. | 13,306 | 1,077,254 | ||||||
McDonald’s Corp. | 11,202 | 1,128,489 | ||||||
Starbucks Corp. | 14,509 | 1,122,706 | ||||||
Time Warner Cable, Inc. | 7,360 | 1,084,128 | ||||||
Other Securities | 122,892 | 7,015,567 | ||||||
|
| |||||||
14,498,813 | ||||||||
|
| |||||||
CONSUMER STAPLES (5.2%) | ||||||||
PepsiCo, Inc. | 12,208 | 1,090,663 | ||||||
Proctor & Gamble Co. | 21,032 | 1,652,905 | ||||||
Wal-Mart Stores, Inc. | 17,148 | 1,287,300 | ||||||
Other Securities | 105,515 | 5,910,802 | ||||||
|
| |||||||
9,941,670 | ||||||||
|
| |||||||
ENERGY (7.0%) | ||||||||
Anadarko Petroleum Corp. | 9,491 | 1,038,980 | ||||||
Chevron Corp. | 8,662 | 1,130,824 | ||||||
EOG Resources, Inc. | 9,300 | 1,086,798 | ||||||
Exxon Mobil Corp. | 35,052 | 3,529,035 | ||||||
Halliburton Co. | 21,592 | 1,533,248 | ||||||
National Oilwell Varco, Inc. | 9,714 | 799,948 | ||||||
Noble Energy, Inc. | 16,632 | 1,288,315 | ||||||
Occidental Petroleum Corp. | 10,227 | 1,049,597 | ||||||
Other Securities | 18,235 | 1,749,339 | ||||||
|
| |||||||
13,206,084 | ||||||||
|
| |||||||
FINANCIALS (8.9%) | ||||||||
American Int’l. Group, Inc. | 19,786 | 1,079,920 | ||||||
Bank of America Corp. | 72,350 | 1,112,020 | ||||||
Capital One Financial Corp. | 19,627 | 1,621,190 | ||||||
Goldman Sachs Group, Inc. | 6,753 | 1,130,722 | ||||||
JPMorgan Chase & Co. | 43,379 | 2,499,498 | ||||||
MetLife, Inc. | 19,710 | 1,095,088 | ||||||
Simon Property Group, Inc. | 7,028 | 1,168,616 | ||||||
Wells Fargo & Co. | 42,299 | 2,223,235 | ||||||
Other Securities | 85,918 | 5,028,847 | ||||||
|
| |||||||
16,959,136 | ||||||||
|
| |||||||
HEALTH CARE (8.8%) | ||||||||
Covidien PLC | 12,015 | 1,083,513 | ||||||
Gilead Sciences, Inc.* | 19,697 | 1,633,078 |
Shares | Value | |||||||
COMMON STOCKS (CONTINUED): | ||||||||
HEALTH CARE (CONTINUED) | ||||||||
Merck & Co., Inc. | 30,185 | $ | 1,746,202 | |||||
Mylan, Inc.* | 29,432 | 1,517,514 | ||||||
Pfizer, Inc. | 68,337 | 2,028,242 | ||||||
Other Securities | 104,015 | 8,611,132 | ||||||
|
| |||||||
16,619,681 | ||||||||
|
| |||||||
INDUSTRIALS (6.5%) | ||||||||
Boeing Co. | 14,502 | 1,845,089 | ||||||
Cummins, Inc. | 7,366 | 1,136,500 | ||||||
FedEx Corp. | 7,377 | 1,116,730 | ||||||
General Electric Co. | 64,304 | 1,689,909 | ||||||
Precision Castparts Corp. | 5,783 | 1,459,629 | ||||||
Roper Industries, Inc. | 14,689 | 2,144,741 | ||||||
Other Securities | 55,899 | 2,951,071 | ||||||
|
| |||||||
12,343,669 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.4%) | ||||||||
Apple, Inc. | 51,940 | 4,826,779 | ||||||
Google, Inc. Cl A* | 1,968 | 1,150,631 | ||||||
Google, Inc. Cl C* | 1,968 | 1,132,151 | ||||||
Microsoft Corp. | 44,788 | 1,867,660 | ||||||
Oracle Corp. | 27,895 | 1,130,584 | ||||||
QUALCOMM, Inc. | 15,948 | 1,263,082 | ||||||
Salesforce.com, inc.* | 24,770 | 1,438,642 | ||||||
Other Securities | 148,819 | 6,946,301 | ||||||
|
| |||||||
19,755,830 | ||||||||
|
| |||||||
MATERIALS (2.1%) | ||||||||
Eastman Chemical Co. | 12,368 | 1,080,345 | ||||||
Other Securities | 49,151 | 2,893,646 | ||||||
|
| |||||||
3,973,991 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (1.1%) | ||||||||
AT&T, Inc. | 37,483 | 1,325,399 | ||||||
Verizon Communications, Inc. | 16,062 | 785,914 | ||||||
|
| |||||||
2,111,313 | ||||||||
|
| |||||||
UTILITIES (1.7%) | ||||||||
Other Securities | 56,499 | 3,257,775 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | ||||||||
(Cost: $71,405,677) 59.3% | $ | 112,667,962 | ||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
LONG-TERM DEBT SECURITIES: | ||||||||||||||
U.S. GOVERNMENT (7.6%) | ||||||||||||||
U.S. Treasury Note | AA+ | 2.00 | 11/30/20 | $ | 250,000 | $ | 249,863 | |||||||
U.S. Treasury Strip | AA+ | 0.00 | 11/15/16 - 08/15/29 | 19,850,000 | 14,238,908 | |||||||||
|
| |||||||||||||
14,488,771 | ||||||||||||||
|
| |||||||||||||
U.S. GOVERNMENT AGENCIES (12.8%) | ||||||||||||||
MORTGAGE-BACKED OBLIGATIONS (12.6%) | ||||||||||||||
FHARM | AA+ | 2.37 - 5.77 | 02/01/36 - 09/01/39 | 242,606 | 257,704 | |||||||||
FHLMC | AA+ | 2.50 - 6.00 | 02/01/25 - 04/01/43 | 4,446,435 | 4,658,832 | |||||||||
FHLMC Strip | AA+ | 3.00 | 01/15/43 | 462,153 | 459,164 | |||||||||
FNMA | AA+ | 2.42 - 8.00 | 09/01/16 - 12/25/49 | 13,192,556 | 14,050,974 | |||||||||
FNMA Strip | AA+ | 3.00 | 08/25/42 | 407,519 | 407,558 | |||||||||
GNMA (4) | AA+ | 3.50 - 7.00 | 10/15/24 - 10/20/43 | 3,550,867 | 3,853,634 | |||||||||
Other Securities | 266,029 | 297,638 | ||||||||||||
|
| |||||||||||||
23,985,504 | ||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
37
MUTUAL OF AMERICA INVESTMENT CORPORATION — COMPOSITE FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
LONG-TERM DEBT SECURITIES (CONTINUED): | ||||||||||||||
U.S. GOVERNMENT AGENCIES (CONTINUED) | ||||||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (0.2%) | ||||||||||||||
FHLMC | AA+ | 0.00 | 11/29/19 | $ | 500,000 | $ | 437,942 | |||||||
|
| |||||||||||||
CORPORATE DEBT (17.8%) | ||||||||||||||
CONSUMER DISCRETIONARY (3.2%) | ||||||||||||||
Home Depot, Inc. | A | 5.40 | 03/01/16 | 500,000 | 539,547 | |||||||||
Other Securities | 5,245,000 | 5,478,334 | ||||||||||||
|
| |||||||||||||
6,017,881 | ||||||||||||||
|
| |||||||||||||
CONSUMER STAPLES (1.1%) | ||||||||||||||
Other Securities | 2,125,000 | 2,193,351 | ||||||||||||
|
| |||||||||||||
ENERGY (2.6%) | ||||||||||||||
National Oilwell Varco, Inc. | A | 6.13 | 08/15/15 | 250,000 | 250,270 | |||||||||
Other Securities | 4,310,000 | 4,617,243 | ||||||||||||
|
| |||||||||||||
4,867,513 | ||||||||||||||
|
| |||||||||||||
FINANCIALS (3.5%) | ||||||||||||||
Bank of America Corp. | A- | 3.70 | 09/01/15 | 250,000 | 258,456 | |||||||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 300,000 | 333,748 | |||||||||
Other Securities | 5,700,000 | 6,133,472 | ||||||||||||
|
| |||||||||||||
6,725,676 | ||||||||||||||
|
| |||||||||||||
HEALTH CARE (1.9%) | ||||||||||||||
Other Securities | 3,315,000 | 3,559,814 | ||||||||||||
|
| |||||||||||||
INDUSTRIALS (1.3%) | ||||||||||||||
Other Securities | 2,250,000 | 2,367,226 | ||||||||||||
|
| |||||||||||||
INFORMATION TECHNOLOGY (1.0%) | ||||||||||||||
Other Securities | 1,710,000 | 1,820,392 | ||||||||||||
|
| |||||||||||||
MATERIALS (1.6%) | ||||||||||||||
Geon Co. | BBB- | 7.50 | 12/15/15 | 1,000,000 | 1,080,000 | |||||||||
Other Securities | 1,850,000 | 1,957,696 | ||||||||||||
|
| |||||||||||||
3,037,696 | ||||||||||||||
|
| |||||||||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||||||||
Verizon Communications, Inc. | BBB+ | 4.50 | 09/15/20 | 325,000 | 357,497 | |||||||||
Other Securities | 500,000 | 510,625 | ||||||||||||
|
| |||||||||||||
868,122 | ||||||||||||||
|
| |||||||||||||
UTILITIES (1.1%) | ||||||||||||||
Other Securities | 1,890,000 | 2,027,256 | ||||||||||||
|
| |||||||||||||
TOTAL LONG-TERM DEBT SECURITIES | ||||||||||||||
(Cost: $69,871,844) 38.2% | 72,397,144 | |||||||||||||
|
| |||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (1.9%) | ||||||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | 500,000 | 499,942 | |||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/19/14 | 1,000,000 | 999,850 | |||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 2,200,000 | 2,200,000 | |||||||||
|
| |||||||||||||
3,699,792 | ||||||||||||||
|
| |||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 3,699,792 | ||||||||||||
|
| |||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 898,100 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 189,662,998 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS 0.1% |
| 265,051 | ||||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 189,928,049 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
38
MUTUAL OF AMERICA INVESTMENT CORPORATION — RETIREMENT INCOME FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (30.0%) | 8,972,836 | $ | 13,238,379 | |||||
Equity Index Fund (21.0%) | 2,806,264 | 9,270,635 | ||||||
Mid-Cap Equity Index Fund (5.8%) | 1,147,835 | 2,565,647 | ||||||
Mid-Term Bond Fund (39.0%) | 15,799,729 | 17,147,193 | ||||||
Money Market Fund (4.2%) | 1,551,579 | 1,858,705 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 44,080,559 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (284 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 44,080,275 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2010 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.5%) | 4,154,861 | $ | 6,130,016 | |||||
Equity Index Fund (26.0%) | 1,969,796 | 6,507,321 | ||||||
International Fund (3.2%) | 929,397 | 810,619 | ||||||
Mid-Cap Equity Index Fund (9.9%) | 1,103,335 | 2,466,179 | ||||||
Mid-Term Bond Fund (32.2%) | 7,408,066 | 8,039,856 | ||||||
Money Market Fund (4.2%) | 880,048 | 1,054,248 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 25,008,239 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (166 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 25,008,073 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2015 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.0%) | 23,144,424 | $ | 34,146,914 | |||||
Equity Index Fund (28.5%) | 12,277,361 | 40,558,886 | ||||||
International Fund (6.0%) | 9,757,089 | 8,510,124 | ||||||
Mid-Cap Equity Index Fund (11.6%) | 7,399,587 | 16,539,594 | ||||||
Mid-Term Bond Fund (26.9%) | 35,267,466 | 38,275,217 | ||||||
Small Cap Growth Fund (1.5%) | 1,359,597 | 2,174,131 | ||||||
Small Cap Value Fund (1.5%) | 1,208,492 | 2,155,622 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 142,360,488 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,718 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 142,358,770 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
39
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2020 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.0%) | 45,282,055 | $ | 66,808,420 | |||||
Equity Index Fund (33.5%) | 28,220,340 | 93,227,332 | ||||||
International Fund (9.0%) | 28,623,593 | 24,965,469 | ||||||
Mid-Cap Equity Index Fund (11.6%) | 14,465,759 | 32,333,936 | ||||||
Mid-Term Bond Fund (16.9%) | 43,454,810 | 47,160,810 | ||||||
Small Cap Growth Fund (2.5%) | 4,425,289 | 7,076,479 | ||||||
Small Cap Value Fund (2.5%) | 3,933,689 | 7,016,636 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 278,589,082 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,768 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 278,587,314 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2025 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (21.9%) | 42,829,199 | $ | 63,189,515 | |||||
Equity Index Fund (37.9%) | 33,043,466 | 109,160,774 | ||||||
International Fund (9.5%) | 31,192,110 | 27,205,727 | ||||||
Mid-Cap Equity Index Fund (16.6%) | 21,431,714 | 47,904,275 | ||||||
Mid-Term Bond Fund (7.0%) | 18,464,825 | 20,039,579 | ||||||
Small Cap Growth Fund (3.6%) | 6,406,552 | 10,244,717 | ||||||
Small Cap Value Fund (3.5%) | 5,694,566 | 10,157,562 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 287,902,149 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,845 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 287,900,304 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2030 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (22.0%) | 35,695,594 | $ | 52,664,709 | |||||
Equity Index Fund (40.6%) | 29,522,551 | 97,529,253 | ||||||
International Fund (9.7%) | 26,674,754 | 23,265,693 | ||||||
Mid-Cap Equity Index Fund (17.6%) | 18,936,373 | 42,326,676 | ||||||
Small Cap Growth Fund (5.1%) | 7,629,054 | 12,199,621 | ||||||
Small Cap Value Fund (5.0%) | 6,781,588 | 12,096,515 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 240,082,467 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,510 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 240,080,957 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
40
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2035 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (15.0%) | 20,125,670 | $ | 29,693,091 | |||||
Equity Index Fund (40.6%) | 24,407,989 | 80,633,037 | ||||||
International Fund (11.7%) | 26,576,504 | 23,180,000 | ||||||
Mid-Cap Equity Index Fund (20.6%) | 18,340,236 | 40,994,187 | ||||||
Small Cap Growth Fund (6.1%) | 7,568,952 | 12,103,511 | ||||||
Small Cap Value Fund (6.0%) | 6,728,106 | 12,001,118 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 198,604,944 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,240 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 198,603,704 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2040 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (10.9%) | 12,314,839 | $ | 18,169,117 | |||||
Equity Index Fund (35.6%) | 17,870,138 | 59,034,913 | ||||||
International Fund (13.7%) | 25,950,907 | 22,634,355 | ||||||
Mid-Cap Equity Index Fund (23.6%) | 17,546,585 | 39,220,215 | ||||||
Small Cap Growth Fund (8.1%) | 8,421,789 | 13,467,283 | ||||||
Small Cap Value Fund (8.1%) | 7,486,086 | 13,353,149 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 165,879,032 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,047 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 165,877,985 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2045 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (9.0%) | 12,797,821 | $ | 18,881,700 | |||||
Equity Index Fund (35.6%) | 22,695,064 | 74,974,302 | ||||||
International Fund (15.6%) | 37,750,713 | 32,926,134 | ||||||
Mid-Cap Equity Index Fund (21.6%) | 20,387,478 | 45,570,194 | ||||||
Small Cap Growth Fund (9.1%) | 12,032,754 | 19,241,577 | ||||||
Small Cap Value Fund (9.1%) | 10,695,835 | 19,078,470 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 210,672,377 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,287 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 210,671,090 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
41
MUTUAL OF AMERICA INVESTMENT CORPORATION — 2050 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (7.2%) | 1,544,828 | $ | 2,279,214 | |||||
Equity Index Fund (35.5%) | 3,389,324 | 11,196,806 | ||||||
International Fund (16.9%) | 6,088,177 | 5,310,102 | ||||||
Mid-Cap Equity Index Fund (20.1%) | 2,834,055 | 6,334,693 | ||||||
Small Cap Growth Fund (10.2%) | 1,997,305 | 3,193,891 | ||||||
Small Cap Value Fund (10.1%) | 1,775,757 | 3,167,469 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 31,482,175 | ||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (158 | ) | ||||||
|
| |||||||
NET ASSETS 100.0% | $ | 31,482,017 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — CONSERVATIVE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (29.8%) | 21,567,827 | $ | 31,820,826 | |||||
Equity Index Fund (25.5%) | 8,262,042 | 27,294,076 | ||||||
International Fund (5.0%) | 6,148,541 | 5,362,752 | ||||||
Mid-Cap Equity Index Fund (5.2%) | 2,477,366 | 5,537,422 | ||||||
Mid-Term Bond Fund (34.5%) | 34,014,970 | 36,915,903 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 106,930,979 | ||||||
|
| |||||||
OTHER NET ASSETS | — | |||||||
|
| |||||||
NET ASSETS 100.0% | $ | 106,930,979 | ||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION — MODERATE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.6%) | 50,541,684 | $ | 74,568,393 | |||||
Equity Index Fund (35.4%) | 32,533,862 | 107,477,271 | ||||||
International Fund (9.9%) | 34,584,555 | 30,164,614 | ||||||
Mid-Cap Equity Index Fund (15.4%) | 20,904,930 | 46,726,805 | ||||||
Mid-Term Bond Fund (14.7%) | 40,992,338 | 44,488,329 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 303,425,412 | ||||||
|
| |||||||
OTHER NET ASSETS | — | |||||||
|
| |||||||
NET ASSETS 100.0% | $ | 303,425,412 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
42
MUTUAL OF AMERICA INVESTMENT CORPORATION — AGGRESSIVE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (19.5%) | 33,219,790 | $ | 49,011,947 | |||||
Equity Index Fund (35.2%) | 26,730,188 | 88,304,540 | ||||||
International Fund (14.8%) | 42,621,808 | 37,174,698 | ||||||
Mid-Cap Equity Index Fund (20.4%) | 22,901,319 | 51,189,143 | ||||||
Small Cap Growth Fund (5.1%) | 8,061,241 | 12,890,731 | ||||||
Small Cap Value Fund (5.0%) | 7,098,317 | 12,661,473 | ||||||
|
| |||||||
TOTAL INVESTMENTS | $ | 251,232,532 | ||||||
|
| |||||||
OTHER NET ASSETS | — | |||||||
|
| |||||||
NET ASSETS 100.0% | $ | 251,232,532 | ||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
43
MUTUAL OF AMERICA INVESTMENT CORPORATION — MONEY MARKET FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||
U.S. GOVERNMENT AGENCIES (12.1%) | ||||||||||||||||||
FHLB | A-1+ | 0.05 | 07/11/14 | $ | 2,200,000 | $ | 2,199,973 | |||||||||||
FHLB | A-1+ | 0.07 | 08/15/14 | 7,500,000 | 7,499,341 | |||||||||||||
|
| |||||||||||||||||
9,699,314 | ||||||||||||||||||
|
| |||||||||||||||||
COMMERCIAL PAPER (87.8%) | ||||||||||||||||||
Abbott Laboratories† | A-1+ | 0.10 | 07/29/14 | 3,200,000 | 3,199,751 | |||||||||||||
Air Products & Chemicals† | A-1 | 0.10 | 09/03/14 | 3,200,000 | 3,199,316 | |||||||||||||
Apple, Inc.† | A-1+ | 0.08 | 07/31/14 | 3,200,000 | 3,199,787 | |||||||||||||
Chevron Corp.† | A-1+ | 0.09 | 09/09/14 | 3,200,000 | 3,199,260 | |||||||||||||
Coca-Cola Co.† | A-1+ | 0.10 | 08/21/14 | 3,000,000 | 2,999,575 | |||||||||||||
Danaher Corp.† | A-1 | 0.09 | 07/10/14 | 3,200,000 | 3,199,928 | |||||||||||||
Dover Corp.† | A-1 | 0.09 | 07/01/14 | 2,500,000 | 2,500,000 | |||||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | 3,200,000 | 3,199,627 | |||||||||||||
Emerson Electric Co.† | A-1 | 0.11 | 08/22/14 | 3,200,000 | 3,199,492 | |||||||||||||
Exxon Mobil Corp. | A-1+ | 0.08 | 07/31/14 | 3,200,000 | 3,199,787 | |||||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/26/14 | 3,200,000 | 3,199,452 | |||||||||||||
General Re Corp. | A-1+ | 0.11 | 09/10/14 | 3,200,000 | 3,199,306 | |||||||||||||
Int’l. Business Machines Corp.† | A-1+ | 0.10 | 09/10/14 | 1,650,000 | 1,649,593 | |||||||||||||
Microsoft Corp.† | A-1+ | 0.08 | 07/30/14 | 3,200,000 | 3,199,794 | |||||||||||||
National Rural Utilities | A-1 | 0.09 | 07/17/14 | 800,000 | 799,968 | |||||||||||||
National Rural Utilities | A-1 | 0.09 | 07/22/14 | 1,400,000 | 1,399,927 | |||||||||||||
National Rural Utilities | A-1 | 0.09 | 07/29/14 | 1,000,000 | 999,930 | |||||||||||||
Piedmont Natural Gas Co.† | A-1 | 0.11 | 07/02/14 | 2,200,000 | 2,199,993 | |||||||||||||
Precision Castparts Corp.† | A-1 | 0.09 | 07/18/14 | 1,500,000 | 1,499,936 | |||||||||||||
Precision Castparts Corp.† | A-1 | 0.10 | 08/01/14 | 1,700,000 | 1,699,854 | |||||||||||||
Procter & Gamble Co.† | A-1+ | 0.08 | 07/28/14 | 3,200,000 | 3,199,808 | |||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 3,200,000 | 3,200,000 | |||||||||||||
Southern California Gas Co.† | A-1 | 0.11 | 07/01/14 | 3,200,000 | 3,200,000 | |||||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/03/14 | 1,700,000 | 1,699,703 | |||||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/04/14 | 1,500,000 | 1,499,719 | |||||||||||||
Wells Fargo & Co. | A-1 | 0.15 | 08/01/14 | 3,200,000 | 3,199,587 | |||||||||||||
Wisconsin Gas Co. | A-1 | 0.14 | 07/07/14 | 3,200,000 | 3,199,925 | |||||||||||||
|
| |||||||||||||||||
70,143,018 | ||||||||||||||||||
|
| |||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 79,842,332 | ||||||||||||||||
|
| |||||||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 43,400 | ||||||||||||||||
|
| |||||||||||||||||
TOTAL INVESTMENTS |
| 79,885,732 | ||||||||||||||||
|
| |||||||||||||||||
OTHER NET ASSETS -0.0% (3) |
| (1,846 | ) | |||||||||||||||
|
| |||||||||||||||||
NET ASSETS 100.0% |
| $ | 79,883,886 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
44
MUTUAL OF AMERICA INVESTMENT CORPORATION — MID-TERM BOND FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
LONG-TERM DEBT SECURITIES: | ||||||||||||||
U.S. GOVERNMENT (33.7%) | ||||||||||||||
U.S. Treasury Note | AA+ | 0.63 - 3.00 | 02/18/17 - 11/30/20 | $ | 68,500,000 | $ | 68,915,364 | |||||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/17 - 08/15/18 | 75,000,000 | 71,276,665 | |||||||||
|
| |||||||||||||
140,192,029 | ||||||||||||||
|
| |||||||||||||
U.S. GOVERNMENT AGENCIES (5.8%) | ||||||||||||||
MORTGAGE-BACKED OBLIGATIONS (0.0%) (3) | ||||||||||||||
FHLMC | AA+ | 7.50 - 8.50 | 09/01/17 - 03/15/21 | 6,385 | 7,068 | |||||||||
|
| |||||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (5.8%) | ||||||||||||||
FFCB | AA+ | 4.95 | 10/10/14 | 12,500,000 | 12,667,150 | |||||||||
FHLMC | AA+ | 0.00 | 11/29/19 | 1,850,000 | 1,620,385 | |||||||||
FNMA | AA+ | 0.00 | 10/09/19 | 10,342,000 | 9,088,198 | |||||||||
Other Securities | 900,000 | 770,810 | ||||||||||||
|
| |||||||||||||
24,146,543 | ||||||||||||||
|
| |||||||||||||
CORPORATE DEBT (59.8%) | ||||||||||||||
CONSUMER DISCRETIONARY (8.2%) | ||||||||||||||
Advance Auto Parts, Inc. | BBB- | 4.50 - 5.75 | 05/01/20 - 01/15/22 | 2,000,000 | 2,253,876 | |||||||||
Expedia, Inc. | BBB- | 5.95 | 08/15/20 | 2,000,000 | 2,262,916 | |||||||||
Family Dollar Stores, Inc. | BBB- | 5.00 | 02/01/21 | 2,000,000 | 2,146,168 | |||||||||
Marriott International, Inc. | BBB | 3.00 - 3.38 | 03/01/19 - 10/15/20 | 2,000,000 | 2,070,155 | |||||||||
Tupperware Brands Corp. | BBB- | 4.75 | 06/01/21 | 2,000,000 | 2,158,954 | |||||||||
Wynn Las Vegas LLC | BBB- | 5.38 | 03/15/22 | 2,000,000 | 2,082,500 | |||||||||
Other Securities | 20,623,000 | 21,069,292 | ||||||||||||
|
| |||||||||||||
34,043,861 | ||||||||||||||
|
| |||||||||||||
CONSUMER STAPLES (3.8%) | ||||||||||||||
Mead Johnson Nutrition Co. | BBB | 4.90 | 11/01/19 | 3,075,000 | 3,416,783 | |||||||||
Other Securities | 11,925,000 | 12,263,873 | ||||||||||||
|
| |||||||||||||
15,680,656 | ||||||||||||||
|
| |||||||||||||
ENERGY (3.6%) | ||||||||||||||
Rowan Companies PLC | BBB- | 4.88 | 06/01/22 | 2,000,000 | 2,142,316 | |||||||||
SESI LLC | BBB- | 7.13 | 12/15/21 | 2,000,000 | 2,255,000 | |||||||||
Other Securities | 10,290,000 | 10,643,917 | ||||||||||||
|
| |||||||||||||
15,041,233 | ||||||||||||||
|
| |||||||||||||
FINANCIALS (16.9%) | ||||||||||||||
Alleghany Corp. | BBB | 4.95 | 06/27/22 | 2,000,000 | 2,177,400 | |||||||||
American Tower Corp. | BBB- | 4.50 | 01/15/18 | 2,000,000 | 2,179,184 | |||||||||
Bank of America Corp. | BBB+ to A- | 2.65 - 5.75 | 09/01/15 - 04/01/19 | 2,000,000 | 2,070,994 | |||||||||
Barrick N.A. Finance LLC | BBB | 4.40 | 05/30/21 | 2,000,000 | 2,092,548 | |||||||||
Berkley (W.R.) Corp. | BBB+ | 4.63 | 03/15/22 | 2,000,000 | 2,148,404 | |||||||||
Boston Properties LP | A- | 3.70 | 11/15/18 | 1,970,000 | 2,103,042 | |||||||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 2,000,000 | 2,224,984 | |||||||||
Fairfax Financial Hldgs.† | BBB- | 5.80 - 8.25 | 10/01/15 - 05/15/21 | 2,016,000 | 2,177,496 | |||||||||
Ford Motor Credit Co. LLC | BBB- | 3.00 | 06/12/17 | 2,000,000 | 2,086,500 | |||||||||
Health Care REIT, Inc. | BBB | 3.63 | 03/15/16 | 2,000,000 | 2,090,408 | |||||||||
Healthcare Realty Trust | BBB- | 5.75 | 01/15/21 | 2,000,000 | 2,261,874 | |||||||||
Moody’s Corp. | BBB+ | 5.50 | 09/01/20 | 2,000,000 | 2,274,000 | |||||||||
Nasdaq OMX Group, Inc. | BBB | 5.55 | 01/15/20 | 2,000,000 | 2,219,064 | |||||||||
Other Securities | 40,626,000 | 42,580,411 | ||||||||||||
|
| |||||||||||||
70,686,309 | ||||||||||||||
|
| |||||||||||||
HEALTH CARE (6.1%) | ||||||||||||||
Agilent Technologies, Inc. | BBB+ | 5.00 | 07/15/20 | 2,000,000 | 2,195,046 | |||||||||
Bio-Rad Laboratories, Inc. | BBB | 4.88 | 12/15/20 | 2,000,000 | 2,117,820 | |||||||||
Hospira, Inc. | BBB- | 6.05 | 03/30/17 | 2,000,000 | 2,206,430 | |||||||||
Laboratory Corp. of America | BBB+ | 3.13 - 5.63 | 12/15/15 - 08/23/22 | 2,000,000 | 2,094,971 | |||||||||
PerkinElmer, Inc. | BBB | 5.00 | 11/15/21 | 2,000,000 | 2,161,894 |
The accompanying notes are an integral part of these portfolio schedules.
45
MUTUAL OF AMERICA INVESTMENT CORPORATION — MID-TERM BOND FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
LONG-TERM DEBT SECURITIES (CONTINUED): | ||||||||||||||||||
HEALTH CARE (CONTINUED) | ||||||||||||||||||
Quest Diagnostics, Inc. | BBB+ | 4.75 | 01/30/20 | $ | 2,000,000 | $ | 2,163,572 | |||||||||||
Thermo Fisher Scientific, Inc. | BBB | 3.60 - 4.50 | 03/01/21 - 08/15/21 | 2,000,000 | 2,171,053 | |||||||||||||
Other Securities | 9,665,000 | 10,189,948 | ||||||||||||||||
|
| |||||||||||||||||
25,300,734 | ||||||||||||||||||
|
| |||||||||||||||||
INDUSTRIALS (6.3%) | ||||||||||||||||||
Dun & Bradstreet Corp. | BBB- | 3.25 | 12/01/17 | 2,000,000 | 2,071,014 | |||||||||||||
GATX Corp. | BBB | 6.00 | 02/15/18 | 2,050,000 | 2,313,462 | |||||||||||||
Harsco Corp. | BB+ | 5.75 | 05/15/18 | 2,250,000 | 2,435,625 | |||||||||||||
L-3 Communications Corp. | BBB- | 5.20 | 10/15/19 | 2,000,000 | 2,249,974 | |||||||||||||
URS Corp. | BBB- | 3.85 - 5.00 | 04/01/17 - 04/01/22 | 2,000,000 | 2,077,490 | |||||||||||||
Valmont Industries, Inc. | BBB | 6.63 | 04/20/20 | 2,000,000 | 2,376,596 | |||||||||||||
Other Securities | 12,485,000 | 12,829,570 | ||||||||||||||||
|
| |||||||||||||||||
26,353,731 | ||||||||||||||||||
|
| |||||||||||||||||
INFORMATION TECHNOLOGY (6.2%) | ||||||||||||||||||
Adobe Systems, Inc. | A- | 4.75 | 02/01/20 | 2,000,000 | 2,224,632 | |||||||||||||
Arrow Electronics, Inc. | BBB- | 3.00 - 6.88 | 03/01/18 - 03/01/23 | 2,000,000 | 2,155,016 | |||||||||||||
Avnet, Inc. | BBB- | 5.88 - 6.00 | 09/01/15 - 06/15/20 | 1,930,000 | 2,106,577 | |||||||||||||
FLIR Systems, Inc. | BBB | 3.75 | 09/01/16 | 2,000,000 | 2,106,636 | |||||||||||||
Lexmark International, Inc. | BBB- | 6.65 | 06/01/18 | 2,000,000 | 2,268,834 | |||||||||||||
Symantec Corp. | BBB | 4.20 | 09/15/20 | 2,000,000 | 2,075,144 | |||||||||||||
Tech Data Corp. | BBB- | 3.75 | 09/21/17 | 2,000,000 | 2,095,474 | |||||||||||||
Western Union Co. | BBB | 5.93 | 10/01/16 | 2,000,000 | 2,195,394 | |||||||||||||
Other Securities | 8,126,000 | 8,448,641 | ||||||||||||||||
|
| |||||||||||||||||
25,676,348 | ||||||||||||||||||
|
| |||||||||||||||||
MATERIALS (5.0%) | ||||||||||||||||||
Alcoa, Inc. | BBB- | 6.75 | 07/15/18 | 2,000,000 | 2,297,868 | |||||||||||||
Kinross Gold Corp. | NR to BBB- | 3.63 - 5.13 | 09/01/16 - 09/01/21 | 2,750,000 | 2,860,688 | |||||||||||||
Other Securities | 15,600,000 | 15,746,060 | ||||||||||||||||
|
| |||||||||||||||||
20,904,616 | ||||||||||||||||||
|
| |||||||||||||||||
TELECOMMUNICATION SERVICES (1.3%) | ||||||||||||||||||
Verizon Communications, Inc. | BBB+ | 4.50 | 09/15/20 | 2,000,000 | 2,199,984 | |||||||||||||
Other Securities | 3,250,000 | 3,267,615 | ||||||||||||||||
|
| |||||||||||||||||
5,467,599 | ||||||||||||||||||
|
| |||||||||||||||||
UTILITIES (2.4%) | ||||||||||||||||||
Entergy Corp. | BBB- | 4.70 - 5.13 | 01/15/17 - 09/15/20 | 2,000,000 | 2,201,188 | |||||||||||||
Other Securities | 7,165,000 | 7,597,183 | ||||||||||||||||
|
| |||||||||||||||||
9,798,371 | ||||||||||||||||||
|
| |||||||||||||||||
TOTAL LONG-TERM DEBT SECURITIES |
| 413,299,098 | ||||||||||||||||
|
| |||||||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 11,100 | ||||||||||||||||
|
| |||||||||||||||||
TOTAL INVESTMENTS |
| 413,310,198 | ||||||||||||||||
|
| |||||||||||||||||
OTHER NET ASSETS 0.7% |
| 2,923,712 | ||||||||||||||||
|
| |||||||||||||||||
NET ASSETS 100.0% |
| $ | 416,233,910 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
46
MUTUAL OF AMERICA INVESTMENT CORPORATION — BOND FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
LONG-TERM DEBT SECURITIES: | ||||||||||||||
U.S. GOVERNMENT (9.8%) | ||||||||||||||
U.S. Treasury Note | AA+ | 2.25 | 03/31/21 | $ | 1,500,000 | $ | 1,516,172 | |||||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/16 - 08/15/29 | 123,500,000 | 85,511,459 | |||||||||
|
| |||||||||||||
87,027,631 | ||||||||||||||
|
| |||||||||||||
U.S. GOVERNMENT AGENCIES (29.6%) | ||||||||||||||
MORTGAGE-BACKED OBLIGATIONS (26.6%) | ||||||||||||||
FHARM | AA+ | 2.37 - 5.77 | 02/01/36 - 04/01/42 | 2,440,775 | 2,570,652 | |||||||||
FHLMC | AA+ | 2.50 - 6.00 | 03/01/21 - 04/01/43 | 56,672,098 | 59,332,025 | |||||||||
FHLMC Strip | AA+ | 3.00 | 01/15/43 | 2,772,921 | 2,754,985 | |||||||||
FNMA | AA+ | 2.25 - 8.00 | 09/01/16 - 12/25/49 | 115,551,447 | 123,070,330 | |||||||||
FNMA Strip | AA+ | 3.00 | 08/25/42 | 2,263,997 | 2,264,209 | |||||||||
GNMA (4) | AA+ | 2.68 - 7.00 | 04/15/24 - 10/16/47 | 41,249,585 | 44,102,689 | |||||||||
GNMA TBA (4) | AA+ | 4.50 | 02/20/20 | 1,286,546 | 1,347,489 | |||||||||
Other Securities | 1,463,159 | 1,637,011 | ||||||||||||
|
| |||||||||||||
237,079,390 | ||||||||||||||
|
| |||||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (3.0%) | ||||||||||||||
FHLMC | AA+ | 0.00 | 11/29/19 | 10,728,000 | 9,396,484 | |||||||||
FNMA | AA+ | 0.00 | 10/09/19 | 20,000,000 | 17,575,315 | |||||||||
|
| |||||||||||||
26,971,799 | ||||||||||||||
|
| |||||||||||||
CORPORATE DEBT (58.9%) | ||||||||||||||
CONSUMER DISCRETIONARY (9.1%) | ||||||||||||||
Advance Auto Parts, Inc. | BBB- | 4.50 - 5.75 | 05/01/20 - 01/15/22 | 4,000,000 | 4,507,751 | |||||||||
Expedia, Inc. | BBB- | 5.95 | 08/15/20 | 4,000,000 | 4,525,832 | |||||||||
Family Dollar Stores, Inc. | BBB- | 5.00 | 02/01/21 | 4,000,000 | 4,292,336 | |||||||||
Marriott International, Inc. | BBB | 3.00 - 3.38 | 03/01/19 - 10/15/20 | 4,000,000 | 4,144,366 | |||||||||
Omnicom Group, Inc. | BBB+ | 3.63 - 4.45 | 08/15/20 - 05/01/22 | 4,000,000 | 4,300,070 | |||||||||
Tupperware Brands Corp. | BBB- | 4.75 | 06/01/21 | 4,000,000 | 4,317,908 | |||||||||
Wynn Las Vegas LLC | BBB- | 5.38 | 03/15/22 | 4,000,000 | 4,165,000 | |||||||||
Other Securities | 49,650,000 | 50,975,624 | ||||||||||||
|
| |||||||||||||
81,228,887 | ||||||||||||||
|
| |||||||||||||
CONSUMER STAPLES (3.1%) | ||||||||||||||
Other Securities | 26,569,000 | 27,789,562 | ||||||||||||
|
| |||||||||||||
ENERGY (4.8%) | ||||||||||||||
EQT Corp. | BBB | 4.88 | 11/15/21 | 4,000,000 | 4,371,652 | |||||||||
Rowan Companies PLC | BBB- | 4.88 | 06/01/22 | 4,000,000 | 4,284,632 | |||||||||
SESI LLC | BBB- | 7.13 | 12/15/21 | 3,900,000 | 4,397,250 | |||||||||
Other Securities | 28,276,000 | 30,032,786 | ||||||||||||
|
| |||||||||||||
43,086,320 | ||||||||||||||
|
| |||||||||||||
FINANCIALS (15.9%) | ||||||||||||||
Alleghany Corp. | BBB | 4.95 - 5.63 | 09/15/20 - 06/27/22 | 4,000,000 | 4,493,295 | |||||||||
American Tower Corp. | BBB- | 4.50 | 01/15/18 | 4,000,000 | 4,358,368 | |||||||||
Barrick N.A. Finance LLC | BBB | 4.40 | 05/30/21 | 4,000,000 | 4,185,096 | |||||||||
Berkley (W.R.) Corp. | BBB+ | 4.63 - 7.38 | 09/15/19 - 03/15/22 | 4,000,000 | 4,587,920 | |||||||||
Block Financial LLC | BBB | 5.13 - 5.50 | 10/30/14 - 11/01/22 | 4,000,000 | 4,226,851 | |||||||||
Boston Properties LP | A- | 3.70 - 3.85 | 11/15/18 - 02/01/23 | 4,000,000 | 4,161,239 | |||||||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 4,000,000 | 4,449,968 | |||||||||
Health Care REIT, Inc. | BBB | 3.63 - 6.13 | 03/15/16 - 03/15/23 | 4,000,000 | 4,442,571 | |||||||||
Hospitality Properties Trust | BBB- | 5.00 | 08/15/22 | 4,000,000 | 4,231,692 | |||||||||
Moody’s Corp. | BBB+ | 4.50 | 09/01/22 | 4,000,000 | 4,193,648 | |||||||||
Reinsurance Grp. of America, Inc. | A- | 4.70 - 5.00 | 06/01/21 - 09/15/23 | 4,000,000 | 4,381,271 | |||||||||
Retail Properties, Inc.† | A | 7.88 | 03/15/16 | 5,000,000 | 5,576,610 | |||||||||
Other Securities | 82,726,000 | 88,354,390 | ||||||||||||
|
| |||||||||||||
141,642,919 | ||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
47
MUTUAL OF AMERICA INVESTMENT CORPORATION — BOND FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
LONG-TERM DEBT SECURITIES (CONTINUED): | ||||||||||||||
HEALTH CARE (5.5%) | ||||||||||||||
Agilent Technologies, Inc. | BBB+ | 5.00 | 07/15/20 | $ | 4,000,000 | $ | 4,390,092 | |||||||
Bio-Rad Laboratories, Inc. | BBB | 4.88 | 12/15/20 | 4,000,000 | 4,235,640 | |||||||||
Hospira, Inc. | BBB- | 6.05 | 03/30/17 | 4,000,000 | 4,412,860 | |||||||||
Laboratory Corp. of America | BBB+ | 3.75 - 5.63 | 12/15/15 - 08/23/22 | 4,000,000 | 4,174,198 | |||||||||
PerkinElmer, Inc. | BBB | 5.00 | 11/15/21 | 4,000,000 | 4,323,788 | |||||||||
Quest Diagnostics, Inc. | BBB+ | 4.75 | 01/30/20 | 4,000,000 | 4,327,144 | |||||||||
Thermo Fisher Scientific, Inc. | BBB | 3.60 - 4.50 | 03/01/21 - 08/15/21 | 4,000,000 | 4,330,494 | |||||||||
Other Securities | 17,000,000 | 18,933,151 | ||||||||||||
|
| |||||||||||||
49,127,367 | ||||||||||||||
|
| |||||||||||||
INDUSTRIALS (4.7%) | ||||||||||||||
Dun & Bradstreet Corp. | BBB- | 3.25 - 4.38 | 12/01/17 - 12/01/22 | 4,000,000 | 4,132,000 | |||||||||
Harsco Corp. | BB+ | 5.75 | 05/15/18 | 4,000,000 | 4,330,000 | |||||||||
L-3 Communications Corp. | BBB- | 4.75 - 5.20 | 10/15/19 - 07/15/20 | 4,000,000 | 4,411,172 | |||||||||
Other Securities | 27,650,000 | 28,603,101 | ||||||||||||
|
| |||||||||||||
41,476,273 | ||||||||||||||
|
| |||||||||||||
INFORMATION TECHNOLOGY (5.2%) | ||||||||||||||
Adobe Systems, Inc. | A- | 4.75 | 02/01/20 | 4,000,000 | 4,449,264 | |||||||||
Arrow Electronics, Inc. | BBB- | 4.50 - 6.88 | 06/01/18 - 03/21/23 | 4,000,000 | 4,506,967 | |||||||||
Fiserv, Inc. | BBB | 4.63 - 4.75 | 10/01/20 - 06/15/21 | 3,800,000 | 4,140,254 | |||||||||
Ingram Micro, Inc. | BBB- | 5.00 - 5.25 | 09/01/17 - 08/10/22 | 4,000,000 | 4,306,860 | |||||||||
Lexmark International, Inc. | BBB- | 6.65 | 06/01/18 | 4,000,000 | 4,537,668 | |||||||||
Symantec Corp. | BBB | 4.20 | 09/15/20 | 4,000,000 | 4,150,288 | |||||||||
Tech Data Corp. | BBB- | 3.75 | 09/21/17 | 4,000,000 | 4,190,948 | |||||||||
Western Union Co. | BBB | 5.93 | 10/01/16 | 4,000,000 | 4,390,788 | |||||||||
Other Securities | 11,370,000 | 11,511,789 | ||||||||||||
|
| |||||||||||||
46,184,826 | ||||||||||||||
|
| |||||||||||||
MATERIALS (6.5%) | ||||||||||||||
Alcoa, Inc. | BBB- | 6.75 | 07/15/18 | 4,000,000 | 4,595,736 | |||||||||
Kinross Gold Corp. | BBB- | 5.13 | 09/01/21 | 4,000,000 | 4,143,200 | |||||||||
Methanex Corp. | BBB- | 3.25 - 5.25 | 12/15/19 - 03/01/22 | 4,000,000 | 4,144,503 | |||||||||
Packaging Corp. of America | BBB | 3.90 - 4.50 | 06/15/22 - 11/01/23 | 4,000,000 | 4,196,328 | |||||||||
Other Securities | 39,850,000 | 40,883,641 | ||||||||||||
|
| |||||||||||||
57,963,408 | ||||||||||||||
|
| |||||||||||||
TELECOMMUNICATION SERVICES (0.9%) | ||||||||||||||
Other Securities | 8,000,000 | 8,224,588 | ||||||||||||
|
| |||||||||||||
UTILITIES (3.2%) | ||||||||||||||
Entergy Corp. | BBB- | 4.70 - 5.13 | 01/15/17 - 09/15/20 | 4,000,000 | 4,393,102 | |||||||||
SCANA Corp. | BBB | 4.13 | 02/01/22 | 4,000,000 | 4,182,408 | |||||||||
Other Securities | 18,725,000 | 19,710,315 | ||||||||||||
|
| |||||||||||||
28,285,825 | ||||||||||||||
|
| |||||||||||||
SOVEREIGN DEBT (0.5%) | ||||||||||||||
Sri Lanka AID | NR | 6.59 | 09/15/28 | 3,354,760 | 4,077,871 | |||||||||
|
| |||||||||||||
TOTAL LONG-TERM DEBT SECURITIES | 880,166,666 | |||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
48
MUTUAL OF AMERICA INVESTMENT CORPORATION — BOND FUND
SUMMARY PORTFOLIO OF INVESTMENTS IN SECURITIES (Continued)
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (1.8%) | ||||||||||||||
Precision Castparts Corp.† | A-1 | 0.08 | 07/14/14 | $ | 10,000,000 | $ | 9,999,711 | |||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 6,300,000 | 6,300,000 | |||||||||
|
| |||||||||||||
16,299,711 | ||||||||||||||
|
| |||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 16,299,711 | ||||||||||||
|
| |||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 350,700 | ||||||||||||
|
| |||||||||||||
TOTAL INVESTMENTS |
| 896,817,077 | ||||||||||||
|
| |||||||||||||
OTHER NET ASSETS -0.6% |
| (5,932,467 | ) | |||||||||||
|
| |||||||||||||
NET ASSETS 100.0% |
| $ | 890,884,610 | |||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
49
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO SUMMARY PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Abbreviations: | FFCB = Federal Farm Credit Bank | |
FHARM = Federal Home Adjustable Rate Mortgage | ||
FHLB = Federal Home Loan Bank | ||
FHLMC = Federal Home Loan Mortgage Corporation | ||
FNMA = Federal National Mortgage Association | ||
GNMA = Government National Mortgage Association | ||
NR = Not Rated |
“Other Securities” represent securities in the respective category that individually, or in the aggregate by issuer, do not exceed 1% of net assets. |
* | Non-income producing security. |
** | Ratings as per Standard & Poor’s Corporation (unaudited). |
† | Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2014, the aggregate values of these securities and their percentages of the respective Funds’ net assets were as follows: |
Fund | Aggregate Market Value | Percentage of Net Assets | ||||||
EQUITY INDEX FUND | $ | 28,349,364 | 1.8 | % | ||||
ALL AMERICA FUND | $ | 1,000,000 | 0.3 | % | ||||
SMALL CAP VALUE FUND | $ | 21,499,872 | 5.6 | % | ||||
SMALL CAP GROWTH FUND | $ | 17,499,650 | 4.4 | % | ||||
MID CAP VALUE FUND | $ | 599,930 | 0.7 | % | ||||
MID-CAP EQUITY INDEX FUND | $ | 14,399,950 | 1.5 | % | ||||
INTERNATIONAL FUND | $ | 2,600,000 | 1.0 | % | ||||
COMPOSITE FUND | $ | 3,434,388 | 1.8 | % | ||||
MONEY MARKET FUND | $ | 47,745,714 | 59.8 | % | ||||
MID-TERM BOND FUND | $ | 6,129,521 | 1.5 | % | ||||
BOND FUND | $ | 32,879,428 | 3.7 | % |
(1) | This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. Information on futures contracts outstanding in the Funds as of June 30, 2014, was as follows: |
Fund | Number of Contracts | Contract Type | Purchased (P) or Sold (S) | Expiration Date | Underlying Face Amount at Value(a) | Unrealized Gain(Loss) | Face Value of Futures as a % of Total Investments | |||||||||||||||||||
EQUITY INDEX FUND | 433 | E-mini S&P 500 Stock Index | P | September 2014 | $ | 42,269,460 | $ | 570,644 | 2.7 | % | ||||||||||||||||
ALL AMERICA FUND | 15 | E-mini S&P 500 Stock Index | P | September 2014 | $ | 1,464,300 | $ | 14,225 | 0.5 | % | ||||||||||||||||
MID-CAP EQUITY INDEX FUND | 220 | E-mini S&P MidCap 400 Stock Index | P | September 2014 | $ | 31,444,600 | $ | 487,430 | 3.3 | % |
(a) | Includes the cumulative appreciation(depreciation) of futures contracts, which is included in Net Unrealized Appreciation (Depreciation) of Investments and Futures Contracts in the Components of Net Assets section of the Statements of Assets and Liabilities. The Receivable or Payable for Daily Variation on Futures Contracts in the Statements of Assets and Liabilities only includes the current day’s variation margin payable or receivable. |
(2) | The fund has an arrangement with its custodian bank, JP Morgan Chase Bank, whereby uninvested cash, subject to parameters set by the fund, is automatically invested in the fund’s name by the bank in overnight commercial paper issued by J.P. Morgan Chase & Co. On the next business day, these funds (and earned interest) are automatically returned to the fund. The annual rate of interest earned on this temporary cash investment at June 30, 2014 was 0.15%. |
(3) | Percentage is less than 0.05%. |
(4) | U.S. Government guaranteed security. |
50
(This page has been left blank intentionally.)
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2014 (Unaudited)
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | Mid-Cap Equity Index Fund | |||||||||||||||||||
ASSETS: | ||||||||||||||||||||||||
Investments at fair value | ||||||||||||||||||||||||
(Cost: Equity Index Fund — $975,082,717 | ||||||||||||||||||||||||
All America Fund — $225,002,541 Small Cap Value Fund — $292,739,364 Small Cap Growth Fund — $314,491,646 Mid Cap Value Fund — $69,088,326 Mid-Cap Equity Index Fund — $658,879,755 International Fund — $233,115,984 Composite Fund — $145,875,413 Retirement Income Fund — $40,513,405 2010 Retirement Fund — $21,923,453 2015 Retirement Fund — $119,906,991 2020 Retirement Fund — $230,385,548 2025 Retirement Fund — $227,437,172) |
| |||||||||||||||||||||||
(Notes 1 and 3) | $ | 1,590,472,800 | $ | 320,795,773 | $ | 384,335,638 | $ | 401,606,216 | $ | 86,079,320 | $ | 951,184,233 | ||||||||||||
Cash | 28 | 1,535,345 | 431,492 | 414,699 | 1,352,553 | 84 | ||||||||||||||||||
Interest and dividends receivable | 1,640,470 | 287,832 | 256,642 | 102,127 | 118,662 | 742,111 | ||||||||||||||||||
Receivable for securities sold | 75,783 | 197,599 | 2,171,602 | — | 2,167,111 | 12,989,410 | ||||||||||||||||||
Receivable for daily variation margin on future contracts | 80,317 | 2,127 | — | — | — | 212,413 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
TOTAL ASSETS | 1,592,269,398 | 322,818,676 | 387,195,374 | 402,123,042 | 89,717,646 | 965,128,251 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
LIABILITIES: | ||||||||||||||||||||||||
Payable for securities purchased | 1,339,216 | 723,626 | 2,224,633 | — | 2,060,281 | 4,378,991 | ||||||||||||||||||
Accrued expenses | 24,183 | 13,625 | 18,544 | 28,471 | 4,603 | 13,779 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
TOTAL LIABILITIES | 1,363,399 | 737,251 | 2,243,177 | 28,471 | 2,064,884 | 4,392,770 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
NET ASSETS | $ | 1,590,905,999 | $ | 322,081,425 | $ | 384,952,197 | $ | 402,094,571 | $ | 87,652,762 | $ | 960,735,481 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
NUMBEROF SHARES OUTSTANDING (Note 4) | 481,574,574 | 127,926,925 | 215,813,144 | 251,450,599 | 52,463,108 | 429,819,942 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
NET ASSET VALUES, offering and redemption price per share | $3.30 | $2.52 | $1.78 | $1.60 | $1.67 | $2.24 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
COMPONENTSOF NET ASSETS: | ||||||||||||||||||||||||
Paid-in capital | $ | 882,153,885 | $ | 193,992,433 | $ | 232,981,860 | $ | 249,586,342 | $ | 59,596,506 | $ | 579,917,477 | ||||||||||||
Accumulated undistributed net investment income (loss) | 38,017,759 | 6,074,221 | 7,335,284 | 493,662 | 1,051,852 | 14,713,833 | ||||||||||||||||||
Accumulated undistributed net realized gain (loss) on investments and futures contracts | 54,773,628 | 26,207,314 | 53,038,779 | 64,899,997 | 10,013,410 | 73,312,263 | ||||||||||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | 615,960,727 | 95,807,457 | 91,596,274 | 87,114,570 | 16,990,994 | 292,791,908 | ||||||||||||||||||
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NET ASSETS | $ | 1,590,905,999 | $ | 322,081,425 | $ | 384,952,197 | $ | 402,094,571 | $ | 87,652,762 | $ | 960,735,481 | ||||||||||||
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The accompanying notes are an integral part of these financial statements.
52
International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | 2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | ||||||||||||||||||||||
$ | 265,668,272 | $ | 189,662,998 | $ | 44,080,559 | $ | 25,008,239 | $ | 142,360,488 | $ | 278,589,082 | $ | 287,902,149 | |||||||||||||||
2,124,947 | 150 | — | — | — | — | — | ||||||||||||||||||||||
2,619,460 | 571,996 | — | — | — | — | — | ||||||||||||||||||||||
— | 7,001 | — | — | — | — | — | ||||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||||
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| |||||||||||||||
270,412,679 | 190,242,145 | 44,080,559 | 25,008,239 | 142,360,488 | 278,589,082 | 287,902,149 | ||||||||||||||||||||||
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2,999,773 | 306,021 | — | — | — | — | — | ||||||||||||||||||||||
3,401 | 8,075 | 284 | 166 | 1,718 | 1,768 | 1,845 | ||||||||||||||||||||||
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3,003,174 | 314,096 | 284 | 166 | 1,718 | 1,768 | 1,845 | ||||||||||||||||||||||
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$ | 267,409,505 | $ | 189,928,049 | $ | 44,080,275 | $ | 25,008,073 | $ | 142,358,770 | $ | 278,587,314 | $ | 287,900,304 | |||||||||||||||
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306,592,202 | 96,144,214 | 37,262,482 | 22,412,001 | 122,884,803 | 233,354,222 | 233,865,364 | ||||||||||||||||||||||
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$0.87 | $1.98 | $1.18 | $1.12 | $1.16 | $1.19 | $1.23 | ||||||||||||||||||||||
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$ | 226,265,142 | $ | 141,811,856 | $ | 38,287,728 | $ | 19,866,047 | $ | 108,533,206 | $ | 214,461,692 | $ | 215,429,477 | |||||||||||||||
9,365,847 | 5,561,919 | 735,983 | 472,676 | 2,581,716 | 3,788,738 | 3,392,465 | ||||||||||||||||||||||
(773,772 | ) | (1,233,311 | ) | 1,489,410 | 1,584,564 | 8,790,351 | 12,133,350 | 8,613,385 | ||||||||||||||||||||
32,552,288 | 43,787,585 | 3,567,154 | 3,084,786 | 22,453,497 | 48,203,534 | 60,464,977 | ||||||||||||||||||||||
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$ | 267,409,505 | $ | 189,928,049 | $ | 44,080,275 | $ | 25,008,073 | $ | 142,358,770 | $ | 278,587,314 | $ | 287,900,304 | |||||||||||||||
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The accompanying notes are an integral part of these financial statements.
53
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF ASSETS AND LIABILITIES (Continued)
June 30, 2014 (Unaudited)
2030 Retirement Fund | 2035 Retirement Fund | 2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | ||||||||||||||||
ASSETS: | ||||||||||||||||||||
Investments at fair value | ||||||||||||||||||||
(Cost: 2030 Retirement Fund — $184,360,252 | ||||||||||||||||||||
2035 Retirement Fund — $149,410,147 2040 Retirement Fund — $121,492,755 2045 Retirement Fund — $153,389,256 2050 Retirement Fund — $27,774,228 Conservative Allocation Fund — $96,183,851 Moderate Allocation Fund — $239,660,643 Aggressive Allocation Fund — $181,022,440 Money Market Fund — $79,886,114 Mid-Term Bond Fund — $400,933,984 Bond Fund — $866,848,598) |
| |||||||||||||||||||
(Notes 1 and 3) | $ | 240,082,467 | $ | 198,604,944 | $ | 165,879,032 | $ | 210,672,377 | $ | 31,482,175 | ||||||||||
Cash | — | — | — | — | — | |||||||||||||||
Interest and dividends receivable | — | — | — | — | — | |||||||||||||||
Receivable for securities sold | — | — | — | — | — | |||||||||||||||
Receivable for daily variation margin on future contracts | — | — | — | — | — | |||||||||||||||
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| |||||||||||
TOTAL ASSETS | 240,082,467 | 198,604,944 | 165,879,032 | 210,672,377 | 31,482,175 | |||||||||||||||
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LIABILITIES: | ||||||||||||||||||||
Payable for securities purchased | — | — | — | — | — | |||||||||||||||
Accrued expenses | 1,510 | 1,240 | 1,047 | 1,287 | 158 | |||||||||||||||
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TOTAL LIABILITIES | 1,510 | 1,240 | 1,047 | 1,287 | 158 | |||||||||||||||
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NET ASSETS | $ | 240,080,957 | $ | 198,603,704 | $ | 165,877,985 | $ | 210,671,090 | $ | 31,482,017 | ||||||||||
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NUMBEROF SHARES OUTSTANDING (Note 4) | 189,968,042 | 156,846,722 | 130,678,396 | 165,978,913 | 22,871,535 | |||||||||||||||
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NET ASSET VALUES, offering and redemption price per share | $1.26 | $1.27 | $1.27 | $1.27 | $1.38 | |||||||||||||||
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COMPONENTSOF NET ASSETS: | ||||||||||||||||||||
Paid-in capital | $ | 174,778,322 | $ | 142,715,173 | $ | 115,815,594 | $ | 147,157,514 | $ | 27,571,804 | ||||||||||
Accumulated undistributed net investment income (loss) | 2,707,898 | 2,016,232 | 1,671,240 | 2,070,071 | 42,180 | |||||||||||||||
Accumulated undistributed net realized gain (loss) on investments and futures contracts | 6,872,522 | 4,677,502 | 4,004,874 | 4,160,384 | 160,086 | |||||||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | 55,722,215 | 49,194,797 | 44,386,277 | 57,283,121 | 3,707,947 | |||||||||||||||
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NET ASSETS | $ | 240,080,957 | $ | 198,603,704 | $ | 165,877,985 | $ | 210,671,090 | $ | 31,482,017 | ||||||||||
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The accompanying notes are an integral part of these financial statements.
54
Conservative Allocation Fund | Moderate Allocation Fund | Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||||
$ | 106,930,979 | $ | 303,425,412 | $ | 251,232,532 | $ | 79,885,732 | $ | 413,310,198 | $ | 896,817,077 | |||||||||||||
— | — | — | 36 | 80 | 37 | |||||||||||||||||||
— | — | — | — | 2,941,283 | 6,787,823 | |||||||||||||||||||
— | — | — | — | — | 44,334 | |||||||||||||||||||
— | — | — | — | — | — | |||||||||||||||||||
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106,930,979 | 303,425,412 | 251,232,532 | 79,885,768 | 416,251,561 | 903,649,271 | |||||||||||||||||||
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— | — | — | — | — | 12,739,380 | |||||||||||||||||||
— | — | — | 1,882 | 17,651 | 25,281 | |||||||||||||||||||
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— | — | — | 1,882 | 17,651 | 12,764,661 | |||||||||||||||||||
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$106,930,979 | $303,425,412 | $251,232,532 | $79,883,886 | $416,233,910 | $890,884,610 | |||||||||||||||||||
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83,527,771 | 197,622,560 | 140,158,814 | 66,684,132 | 383,525,442 | 603,832,173 | |||||||||||||||||||
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$1.28 | $1.54 | $1.79 | $1.20 | $1.09 | $1.48 | |||||||||||||||||||
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$ | 89,595,132 | $ | 225,865,100 | $ | 167,397,135 | $ | 79,933,692 | $ | 385,052,576 | $ | 818,542,715 | |||||||||||||
2,273,588 | 5,452,659 | 3,819,966 | (49,952 | ) | 16,303,288 | 41,008,116 | ||||||||||||||||||
4,315,131 | 8,342,884 | 9,805,339 | 528 | 2,501,832 | 1,365,300 | |||||||||||||||||||
10,747,128 | 63,764,769 | 70,210,092 | (382 | ) | 12,376,214 | 29,968,479 | ||||||||||||||||||
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$ | 106,930,979 | $ | 303,425,412 | $ | 251,232,532 | $ | 79,883,886 | $ | 416,233,910 | $ | 890,884,610 | |||||||||||||
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The accompanying notes are an integral part of these financial statements.
55
MUTUAL OF AMERICA INVESTMENT CORPORATION
For the Six Months Ended June 30, 2014 (Unaudited)
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
INVESTMENT INCOMEAND EXPENSES: | ||||||||||||||||||||
INCOME: | ||||||||||||||||||||
Dividends | $ | 15,379,838 | $ | 2,791,586 | $ | 3,102,895 | $ | 1,354,653 | $ | 668,777 | ||||||||||
Interest | 21,001 | 2,847 | 6,313 | 4,436 | 1,424 | |||||||||||||||
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Total income | 15,400,839 | 2,794,433 | 3,109,208 | 1,359,089 | 670,201 | |||||||||||||||
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EXPENSES: | ||||||||||||||||||||
Investment advisory fees (Note 2) | 573,148 | 618,420 | 1,379,090 | 1,517,594 | 206,701 | |||||||||||||||
Accounting and recordkeeping expenses | 203,270 | 25,495 | 33,079 | 49,098 | 9,208 | |||||||||||||||
Shareholders reports | 67,199 | 8,428 | 10,936 | 16,232 | 3,044 | |||||||||||||||
Custodian expenses | 24,229 | 36,180 | 7,308 | 13,704 | 3,488 | |||||||||||||||
Independent directors’ fees and expenses | 23,436 | 14,539 | 15,730 | 20,477 | 2,927 | |||||||||||||||
Audit | 39,958 | 5,012 | 6,502 | 9,652 | 1,811 | |||||||||||||||
Legal and Compliance | 95,886 | 12,026 | 15,604 | 23,161 | 4,343 | |||||||||||||||
Administrative | 178,683 | 22,411 | 29,078 | 43,160 | 8,094 | |||||||||||||||
Licenses | 65,144 | 8,170 | 10,601 | 15,735 | 2,951 | |||||||||||||||
Other | 22,762 | 2,855 | 3,704 | 5,498 | 1,031 | |||||||||||||||
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Total expenses | 1,293,715 | 753,536 | 1,511,632 | 1,714,311 | 243,598 | |||||||||||||||
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Net Investment Income (Loss) | 14,107,124 | 2,040,897 | 1,597,576 | (355,222 | ) | 426,603 | ||||||||||||||
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NET REALIZEDAND UNREALIZED GAIN (LOSS)ON INVESTMENTSAND | ||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||
Investment securities | 40,708,424 | 10,971,916 | 19,779,346 | 34,588,651 | 4,658,493 | |||||||||||||||
Futures contracts | 5,449,767 | 136,450 | — | — | — | |||||||||||||||
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46,158,191 | 11,108,366 | 19,779,346 | 34,588,651 | 4,658,493 | ||||||||||||||||
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Change in net unrealized appreciation (depreciation) of: | ||||||||||||||||||||
Investment securities | 48,403,586 | 5,129,865 | (6,619,604 | ) | (30,625,530 | ) | 1,805,670 | |||||||||||||
Futures contracts | (1,224,159 | ) | (159,684 | ) | — | — | — | |||||||||||||
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47,179,427 | 4,970,181 | (6,619,604 | ) | (30,625,530 | ) | 1,805,670 | ||||||||||||||
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NET REALIZEDAND UNREALIZED GAIN (LOSS)ON INVESTMENTSAND | 93,337,618 | 16,078,547 | 13,159,742 | 3,963,121 | 6,464,163 | |||||||||||||||
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NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | $ | 107,444,742 | $ | 18,119,444 | $ | 14,757,318 | $ | 3,607,899 | $ | 6,890,766 | ||||||||||
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(a) | The Retirement Funds incur no operating expenses other than those included in each of the underlying funds in which they invest. The Allocation Funds incur no advisory or operating expenses other than those included in each of the underlying funds in which they invest. |
The accompanying notes are an integral part of these financial statements.
56
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | 2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | |||||||||||||||||||||||||
$ | 6,479,676 | $ | 5,667,635 | $ | 967,730 | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
11,675 | 484 | 1,397,267 | — | — | — | — | — | |||||||||||||||||||||||||
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6,491,351 | 5,668,119 | 2,364,997 | — | — | — | — | — | |||||||||||||||||||||||||
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333,959 | 75,586 | 366,821 | 10,256 | (a) | 6,034 | (a) | 34,371 | (a) | 64,793 | (a) | 66,645 | (a) | ||||||||||||||||||||
124,046 | 24,400 | 16,340 | — | — | — | — | — | |||||||||||||||||||||||||
41,009 | 8,066 | 5,402 | — | — | — | — | — | |||||||||||||||||||||||||
22,644 | 1,312 | 8,827 | — | — | — | — | — | |||||||||||||||||||||||||
24,400 | 7,758 | 15,787 | — | — | — | — | — | |||||||||||||||||||||||||
24,384 | 4,796 | 3,212 | — | — | — | — | — | |||||||||||||||||||||||||
58,515 | 11,510 | 7,708 | — | — | — | — | — | |||||||||||||||||||||||||
109,042 | 21,449 | 14,364 | — | — | — | — | — | |||||||||||||||||||||||||
39,754 | 7,820 | 5,237 | — | — | — | — | — | |||||||||||||||||||||||||
13,891 | 2,732 | 1,830 | — | — | — | — | — | |||||||||||||||||||||||||
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791,644 | 165,429 | 445,528 | 10,256 | 6,034 | 34,371 | 64,793 | 66,645 | |||||||||||||||||||||||||
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5,699,707 | 5,502,690 | 1,919,469 | (10,256 | ) | (6,034 | ) | (34,371 | ) | (64,793 | ) | (66,645 | ) | ||||||||||||||||||||
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31,277,893 | 37,304 | 3,247,947 | 721,250 | 954,077 | 5,995,695 | 10,093,001 | 6,883,830 | |||||||||||||||||||||||||
2,480,691 | — | — | — | — | — | — | — | |||||||||||||||||||||||||
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33,758,584 | 37,304 | 3,247,947 | 721,250 | 954,077 | 5,995,695 | 10,093,001 | 6,883,830 | |||||||||||||||||||||||||
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28,112,276 | 3,931,644 | 4,997,970 | 1,143,701 | 235,862 | 1,093,711 | 4,010,870 | 8,442,662 | |||||||||||||||||||||||||
(527,430 | ) | — | — | — | — | — | — | — | ||||||||||||||||||||||||
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27,584,846 | 3,931,644 | 4,997,970 | 1,143,701 | 235,862 | 1,093,711 | 4,010,870 | 8,442,662 | |||||||||||||||||||||||||
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61,343,430 | 3,968,948 | 8,245,917 | 1,864,951 | 1,189,939 | 7,089,406 | 14,103,871 | 15,326,492 | |||||||||||||||||||||||||
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$ | 67,043,137 | $ | 9,471,638 | $ | 10,165,386 | $ | 1,854,695 | $ | 1,183,905 | $ | 7,055,035 | $ | 14,039,078 | $ | 15,259,847 | |||||||||||||||||
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The accompanying notes are an integral part of these financial statements.
57
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF OPERATIONS (Continued)
For the Six Months Ended June 30, 2014 (Unaudited)
2030 Retirement Fund | 2035 Retirement Fund | 2040 Retirement Fund | 2045 Retirement Fund | |||||||||||||
INVESTMENT INCOMEAND EXPENSES: | ||||||||||||||||
INCOME: | ||||||||||||||||
Dividends | $ | — | $ | — | $ | — | $ | — | ||||||||
Interest | — | — | — | — | ||||||||||||
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Total income | — | — | — | — | ||||||||||||
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| |||||||||
EXPENSES: | ||||||||||||||||
Investment advisory fees (Note 2) | 54,814 | (a) | 45,144 | (a) | 38,081 | (a) | 48,294 | (a) | ||||||||
Accounting and recordkeeping expenses | — | — | — | — | ||||||||||||
Shareholders reports | — | — | — | — | ||||||||||||
Custodian expenses | — | — | — | — | ||||||||||||
Independent directors’ fees and expenses | — | — | — | — | ||||||||||||
Audit | — | — | — | — | ||||||||||||
Legal and Compliance | — | — | — | — | ||||||||||||
Administrative | — | — | — | — | ||||||||||||
Licenses | — | — | — | — | ||||||||||||
Other | — | — | — | — | ||||||||||||
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| |||||||||
Total expenses | 54,814 | 45,144 | 38,081 | 48,294 | ||||||||||||
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| |||||||||
Net Investment Income (Loss) | (54,814 | ) | (45,144 | ) | (38,081 | ) | (48,294 | ) | ||||||||
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| |||||||||
NET REALIZEDAND UNREALIZED GAIN (LOSS)ON INVESTMENTSAND | ||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||
Investment securities | 5,228,131 | 3,094,656 | 2,320,011 | 2,157,411 | ||||||||||||
Futures contracts | — | — | — | — | ||||||||||||
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5,228,131 | 3,094,656 | 2,320,011 | 2,157,411 | |||||||||||||
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| |||||||||
Change in net unrealized appreciation (depreciation) of: | ||||||||||||||||
Investment securities | 7,889,652 | 7,776,884 | 6,578,467 | 9,002,490 | ||||||||||||
Futures contracts | — | — | — | — | ||||||||||||
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| |||||||||
7,889,652 | 7,776,884 | 6,578,467 | 9,002,490 | |||||||||||||
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| |||||||||
NET REALIZEDAND UNREALIZED GAIN (LOSS)ON INVESTMENTSAND | 13,117,783 | 10,871,540 | 8,898,478 | 11,159,901 | ||||||||||||
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| |||||||||
NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | $ | 13,062,969 | $ | 10,826,396 | $ | 8,860,397 | $ | 11,111,607 | ||||||||
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(a) | The Retirement Funds incur no operating expenses other than those included in each of the underlying funds in which they invest. The Allocation Funds incur no advisory or operating expenses other than those included in each of the underlying funds in which they invest. |
The accompanying notes are an integral part of these financial statements.
58
2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | ||||||||||||||||||||||
$ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
— | — | — | — | 40,058 | 6,519,453 | 16,630,011 | ||||||||||||||||||||||
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— | — | — | — | 40,058 | 6,519,453 | 16,630,011 | ||||||||||||||||||||||
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6,172 | (a) | — | (a) | — | (a) | — | (a) | 60,451 | 791,013 | 1,596,989 | ||||||||||||||||||
— | — | — | — | 4,835 | 43,022 | 99,907 | ||||||||||||||||||||||
— | — | — | — | 1,598 | 14,223 | 33,028 | ||||||||||||||||||||||
— | — | — | — | 3,097 | 3,969 | 12,543 | ||||||||||||||||||||||
— | — | — | — | 10,458 | 19,405 | 21,806 | ||||||||||||||||||||||
— | — | — | — | 950 | 8,457 | 19,639 | ||||||||||||||||||||||
— | — | — | — | 2,281 | 20,295 | 47,127 | ||||||||||||||||||||||
— | — | — | — | 4,250 | 37,819 | 87,822 | ||||||||||||||||||||||
— | — | — | — | 1,549 | 13,788 | 32,018 | ||||||||||||||||||||||
— | — | — | — | 541 | 4,818 | 11,188 | ||||||||||||||||||||||
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| |||||||||||||||
6,172 | — | — | — | 90,010 | 956,809 | 1,962,067 | ||||||||||||||||||||||
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(6,172 | ) | — | — | — | (49,952 | ) | 5,562,644 | 14,667,944 | ||||||||||||||||||||
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92,944 | 3,044,067 | 11,823,668 | 10,551,099 | 528 | 410,007 | 1,451,244 | ||||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||||
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| |||||||||||||||
92,944 | 3,044,067 | 11,823,668 | 10,551,099 | 528 | 410,007 | 1,451,244 | ||||||||||||||||||||||
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1,474,794 | 1,820,097 | 4,500,828 | 3,447,468 | (589 | ) | 5,338,167 | 23,448,215 | |||||||||||||||||||||
— | — | — | — | — | — | — | ||||||||||||||||||||||
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1,474,794 | 1,820,097 | 4,500,828 | 3,447,468 | (589 | ) | 5,338,167 | 23,448,215 | |||||||||||||||||||||
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| |||||||||||||||
1,567,738 | 4,864,164 | 16,324,496 | 13,998,567 | (61 | ) | 5,748,174 | 24,899,459 | |||||||||||||||||||||
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| |||||||||||||||
$ | 1,561,566 | $ | 4,864,164 | $ | 16,324,496 | $ | 13,998,567 | $ | (50,013 | ) | $ | 11,310,818 | $ | 39,567,403 | ||||||||||||||
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The accompanying notes are an integral part of these financial statements.
59
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF CHANGES IN NET ASSETS
Equity Index Fund | All America Fund | |||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||
INCREASE (DECREASE)IN NET ASSETS: | ||||||||||||||||
FROM OPERATIONS: | ||||||||||||||||
Net investment income (loss) | $ | 14,107,124 | $ | 24,796,411 | $ | 2,040,897 | $ | 4,127,686 | ||||||||
Net realized gain (loss) on investments and futures contracts | 46,158,191 | 17,442,494 | 11,108,366 | 23,746,129 | ||||||||||||
Change in net unrealized appreciation (depreciation) of investments and | 47,179,427 | 322,313,391 | 4,970,181 | 51,694,473 | ||||||||||||
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| |||||||||
NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | 107,444,742 | 364,552,296 | 18,119,444 | 79,568,288 | ||||||||||||
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DIVIDEND DISTRIBUTIONS (Note 5) | ||||||||||||||||
From net investment income | — | (20,977,297 | ) | — | (4,003,917 | ) | ||||||||||
From capital gains | — | (8,578,725 | ) | — | (3,065,838 | ) | ||||||||||
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| |||||||||
Total distributions | — | (29,556,022 | ) | — | (7,069,755 | ) | ||||||||||
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| |||||||||
CAPITAL SHARE TRANSACTIONS (Note 4): | ||||||||||||||||
Net proceeds from sale of shares | 67,593,972 | 159,683,235 | 2,176,699 | 5,007,367 | ||||||||||||
Dividends reinvested | — | 29,556,022 | — | 7,069,755 | ||||||||||||
Cost of shares redeemed | (140,508,691 | ) | (76,446,620 | ) | (16,498,271 | ) | (22,530,192 | ) | ||||||||
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| |||||||||
NET INCREASE (DECREASE)IN NET ASSETSFROM CAPITAL SHARE TRANSACTIONS | (72,914,719 | ) | 112,792,637 | (14,321,572 | ) | (10,453,070 | ) | |||||||||
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| |||||||||
INCREASE (DECREASE)IN NET ASSETS | 34,530,023 | 447,788,911 | 3,797,872 | 62,045,463 | ||||||||||||
NET ASSETS, BEGINNINGOF PERIOD | 1,556,375,976 | 1,108,587,065 | 318,283,553 | 256,238,090 | ||||||||||||
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NET ASSETS, ENDOF PERIOD | $ | 1,590,905,999 | $ | 1,556,375,976 | $ | 322,081,425 | $ | 318,283,553 | ||||||||
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ACCUMULATED UNDISTRIBUTED NET INVESTMENT INCOME (LOSS) | $ | 38,017,759 | $ | 23,910,635 | $ | 6,074,221 | $ | 4,033,324 | ||||||||
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| |||||||||
OTHER INFORMATION: | ||||||||||||||||
Shares outstanding at the beginning of period | 504,328,472 | 462,559,004 | 133,925,766 | 138,745,627 | ||||||||||||
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Shares sold | 21,568,352 | 58,203,198 | 902,561 | 2,344,108 | ||||||||||||
Shares issued as reinvestment of dividends | — | 11,796,332 | — | 3,671,799 | ||||||||||||
Shares redeemed | (44,322,250 | ) | (28,230,062 | ) | (6,901,402 | ) | (10,835,768 | ) | ||||||||
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Net increase (decrease) | (22,753,898 | ) | 41,769,468 | (5,998,841 | ) | (4,819,861 | ) | |||||||||
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Shares outstanding at the end of period | 481,574,574 | 504,328,472 | 127,926,925 | 133,925,766 | ||||||||||||
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The accompanying notes are an integral part of these financial statements.
60
Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | Mid-Cap Equity Index Fund | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
$ | 1,597,576 | $ | 5,694,956 | $ | (355,222 | ) | $ | 653,526 | $ | 426,603 | $ | 704,947 | $ | 5,699,707 | $ | 9,634,049 | ||||||||||||||||
19,779,346 | 40,992,938 | 34,588,651 | 32,714,069 | 4,658,493 | 5,394,597 | 33,758,584 | 39,677,548 | |||||||||||||||||||||||||
(6,619,604 | ) | 39,223,763 | (30,625,530 | ) | 82,760,899 | 1,805,670 | 9,400,634 | 27,584,846 | 165,544,148 | |||||||||||||||||||||||
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14,757,318 | 85,911,657 | 3,607,899 | 116,128,494 | 6,890,766 | 15,500,178 | 67,043,137 | 214,855,745 | |||||||||||||||||||||||||
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— | (5,227,376 | ) | — | — | — | (653,251 | ) | — | (7,797,143 | ) | ||||||||||||||||||||||
— | — | — | (24,171,500 | ) | — | (1,089,797 | ) | — | (21,498,456 | ) | ||||||||||||||||||||||
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— | (5,227,376 | ) | — | (24,171,500 | ) | — | (1,743,048 | ) | — | (29,295,599 | ) | |||||||||||||||||||||
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8,734,527 | 24,720,788 | 12,542,736 | 51,084,056 | 10,547,623 | 9,704,615 | 40,155,819 | 121,145,845 | |||||||||||||||||||||||||
— | 5,227,376 | — | 24,171,500 | — | 1,743,048 | — | 29,295,599 | |||||||||||||||||||||||||
(20,261,616 | ) | (19,245,410 | ) | (37,557,684 | ) | (15,890,718 | ) | (2,116,937 | ) | (6,088,653 | ) | (48,143,905 | ) | (44,286,628 | ) | |||||||||||||||||
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(11,527,089 | ) | 10,702,754 | (25,014,948 | ) | 59,364,838 | 8,430,686 | 5,359,010 | (7,988,086 | ) | 106,154,816 | ||||||||||||||||||||||
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3,230,229 | 91,387,035 | (21,407,049 | ) | 151,321,832 | 15,321,452 | 19,116,140 | 59,055,051 | 291,714,962 | ||||||||||||||||||||||||
381,721,968 | 290,334,933 | 423,501,620 | 272,179,788 | 72,331,310 | 53,215,170 | 901,680,430 | 609,965,468 | |||||||||||||||||||||||||
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$ | 384,952,197 | $ | 381,721,968 | $ | 402,094,571 | $ | 423,501,620 | $ | 87,652,762 | $ | 72,331,310 | $ | 960,735,481 | $ | 901,680,430 | |||||||||||||||||
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$ | 7,335,284 | $ | 5,737,708 | $ | 493,662 | $ | 848,884 | $ | 1,051,852 | $ | 625,249 | $ | 14,713,833 | $ | 9,014,126 | |||||||||||||||||
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222,484,724 | 215,294,961 | 267,803,649 | 223,008,469 | 47,238,273 | 43,126,278 | 433,467,620 | 374,064,073 | |||||||||||||||||||||||||
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5,124,387 | 16,224,700 | 7,948,155 | 36,539,168 | 6,590,178 | 7,158,032 | 19,015,809 | 66,122,333 | |||||||||||||||||||||||||
— | 3,607,089 | — | 19,984,726 | — | 1,324,905 | — | 17,123,163 | |||||||||||||||||||||||||
(11,795,967 | ) | (12,642,026 | ) | (24,301,205 | ) | (11,728,714 | ) | (1,365,343 | ) | (4,370,942 | ) | (22,663,487 | ) | (23,841,949 | ) | |||||||||||||||||
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(6,671,580 | ) | 7,189,763 | (16,353,050 | ) | 44,795,180 | 5,224,835 | 4,111,995 | (3,647,678 | ) | 59,403,547 | ||||||||||||||||||||||
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215,813,144 | 222,484,724 | 251,450,599 | 267,803,649 | 52,463,108 | 47,238,273 | 429,819,942 | 433,467,620 | |||||||||||||||||||||||||
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The accompanying notes are an integral part of these financial statements.
61
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
International Fund | Composite Fund | |||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||
INCREASE (DECREASE)IN NET ASSETS: | ||||||||||||||||
FROM OPERATIONS: | ||||||||||||||||
Net investment income (loss) | $ | 5,502,690 | $ | 3,863,157 | $ | 1,919,469 | $ | 3,642,650 | ||||||||
Net realized gain (loss) on investments and futures contracts | 37,304 | 873,160 | 3,247,947 | 6,129,582 | ||||||||||||
Change in net unrealized appreciation (depreciation) of investments and | 3,931,644 | 22,662,434 | 4,997,970 | 17,317,342 | ||||||||||||
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NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | 9,471,638 | 27,398,751 | 10,165,386 | 27,089,574 | ||||||||||||
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DIVIDEND DISTRIBUTIONS (Note 5) | ||||||||||||||||
From net investment income | — | (2,689,340 | ) | — | (3,658,911 | ) | ||||||||||
From capital gains | — | — | — | — | ||||||||||||
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Total distributions | — | (2,689,340 | ) | — | (3,658,911 | ) | ||||||||||
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CAPITAL SHARE TRANSACTIONS (Note 4): | ||||||||||||||||
Net proceeds from sale of shares | 89,715,747 | 37,567,300 | 1,159,078 | 7,301,802 | ||||||||||||
Dividends reinvested | — | 2,689,340 | — | 3,658,911 | ||||||||||||
Cost of shares redeemed | (5,942,618 | ) | (5,349,272 | ) | (7,887,607 | ) | (17,497,217 | ) | ||||||||
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NET INCREASE (DECREASE)IN NET ASSETSFROM CAPITAL SHARE TRANSACTIONS | 83,773,129 | 34,907,368 | (6,728,529 | ) | (6,536,504 | ) | ||||||||||
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INCREASE (DECREASE)IN NET ASSETS | 93,244,767 | 59,616,779 | 3,436,857 | 16,894,159 | ||||||||||||
NET ASSETS, BEGINNINGOF PERIOD | 174,164,738 | 114,547,959 | 186,491,192 | 169,597,033 | ||||||||||||
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NET ASSETS, ENDOF PERIOD | $ | 267,409,505 | $ | 174,164,738 | $ | 189,928,049 | $ | 186,491,192 | ||||||||
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ACCUMULATED UNDISTRIBUTED NET INVESTMENT INCOME (LOSS) | $ | 9,365,847 | $ | 3,863,157 | $ | 5,561,919 | $ | 3,642,450 | ||||||||
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| |||||||||
OTHER INFORMATION: | ||||||||||||||||
Shares outstanding at the beginning of period | 207,998,511 | 161,874,441 | 99,694,061 | 103,273,971 | ||||||||||||
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Shares sold | 105,650,663 | 49,384,258 | 608,834 | 4,235,956 | ||||||||||||
Shares issued as reinvestment of dividends | — | 3,779,424 | — | 2,210,581 | ||||||||||||
Shares redeemed | (7,056,972 | ) | (7,039,612 | ) | (4,158,681 | ) | (10,026,447 | ) | ||||||||
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Net increase (decrease) | 98,593,691 | 46,124,070 | (3,549,847 | ) | (3,579,910 | ) | ||||||||||
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Shares outstanding at the end of period | 306,592,202 | 207,998,511 | 96,144,214 | 99,694,061 | ||||||||||||
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The accompanying notes are an integral part of these financial statements.
62
Retirement Income Fund | 2010 Retirement Fund | 2015 Retirement Fund | 2020 Retirement Fund | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
$ | (10,256 | ) | $ | 739,216 | $ | (6,034 | ) | $ | 469,648 | $ | (34,371 | ) | $ | 2,574,890 | $ | (64,793 | ) | $ | 3,796,910 | |||||||||||||
721,250 | 783,514 | 954,077 | 765,458 | 5,995,695 | 4,401,927 | 10,093,001 | 3,957,641 | |||||||||||||||||||||||||
1,143,701 | 908,214 | 235,862 | 1,281,915 | 1,093,711 | 10,108,781 | 4,010,870 | 25,619,204 | |||||||||||||||||||||||||
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| |||||||||||||||||
1,854,695 | 2,430,944 | 1,183,905 | 2,517,021 | 7,055,035 | 17,085,598 | 14,039,078 | 33,373,755 | |||||||||||||||||||||||||
|
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| |||||||||||||||||
— | (254 | ) | — | (204 | ) | — | (9,916 | ) | — | (24,228 | ) | |||||||||||||||||||||
— | (547,127 | ) | — | (1,051,750 | ) | — | (4,960,216 | ) | — | (4,201,941 | ) | |||||||||||||||||||||
|
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|
|
|
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|
|
|
|
|
| |||||||||||||||||
— | (547,381 | ) | — | (1,051,954 | ) | — | (4,970,132 | ) | — | (4,226,169 | ) | |||||||||||||||||||||
|
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|
|
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| |||||||||||||||||
5,632,161 | 15,273,014 | 1,687,327 | 5,072,886 | 6,697,731 | 26,771,976 | 21,449,098 | 59,532,752 | |||||||||||||||||||||||||
— | 547,381 | — | 1,051,954 | — | 4,970,132 | — | 4,226,169 | |||||||||||||||||||||||||
(2,978,430 | ) | (9,375,356 | ) | (1,905,819 | ) | (4,999,882 | ) | (9,318,827 | ) | (18,269,988 | ) | (8,192,922 | ) | (10,645,048 | ) | |||||||||||||||||
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| |||||||||||||||||
2,653,731 | 6,445,039 | (218,492 | ) | 1,124,958 | (2,621,096 | ) | 13,472,120 | 13,256,176 | 53,113,873 | |||||||||||||||||||||||
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| |||||||||||||||||
4,508,426 | 8,328,602 | 965,413 | 2,590,025 | 4,433,939 | 25,587,586 | 27,295,254 | 82,261,459 | |||||||||||||||||||||||||
39,571,849 | 31,243,247 | 24,042,660 | 21,452,635 | 137,924,831 | 112,337,245 | 251,292,060 | 169,030,601 | |||||||||||||||||||||||||
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| |||||||||||||||||
$ | 44,080,275 | $ | 39,571,849 | $ | 25,008,073 | $ | 24,042,660 | $ | 142,358,770 | $ | 137,924,831 | $ | 278,587,314 | $ | 251,292,060 | |||||||||||||||||
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| |||||||||||||||||
$ | 735,983 | $ | 746,239 | $ | 472,676 | $ | 478,710 | $ | 2,581,716 | $ | 2,616,087 | $ | 3,788,738 | $ | 3,853,531 | |||||||||||||||||
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| |||||||||||||||||
34,961,828 | 29,130,938 | 22,616,328 | 21,461,692 | 125,288,707 | 112,209,986 | 221,831,608 | 171,582,429 | |||||||||||||||||||||||||
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| |||||||||||||||||
4,892,261 | 13,899,924 | 1,564,032 | 5,006,116 | 5,985,268 | 25,717,519 | 18,583,260 | 56,112,570 | |||||||||||||||||||||||||
— | 510,728 | — | 1,076,851 | — | 5,015,085 | — | 4,222,059 | |||||||||||||||||||||||||
(2,591,607 | ) | (8,579,762 | ) | (1,768,359 | ) | (4,928,331 | ) | (8,389,172 | ) | (17,653,883 | ) | (7,060,646 | ) | (10,085,450 | ) | |||||||||||||||||
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| |||||||||||||||||
2,300,654 | 5,830,890 | (204,327 | ) | 1,154,636 | (2,403,904 | ) | 13,078,721 | 11,522,614 | 50,249,179 | |||||||||||||||||||||||
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| |||||||||||||||||
37,262,482 | 34,961,828 | 22,412,001 | 22,616,328 | 122,884,803 | 125,288,707 | 233,354,222 | 221,831,608 | |||||||||||||||||||||||||
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|
|
The accompanying notes are an integral part of these financial statements.
63
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
2025 Retirement Fund | 2030 Retirement Fund | |||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||
INCREASE (DECREASE)IN NET ASSETS: | ||||||||||||||||
FROM OPERATIONS: | ||||||||||||||||
Net investment income (loss) | $ | (66,645 | ) | $ | 3,390,507 | $ | (54,814 | ) | $ | 2,701,397 | ||||||
Net realized gain (loss) on investments and futures contracts | 6,883,830 | 2,996,791 | 5,228,131 | 2,768,638 | ||||||||||||
Change in net unrealized appreciation (depreciation) of investments and | 8,442,662 | 32,529,428 | 7,889,652 | 30,294,793 | ||||||||||||
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|
|
|
|
|
|
| |||||||||
NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | 15,259,847 | 38,916,726 | 13,062,969 | 35,764,828 | ||||||||||||
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|
|
|
| |||||||||
DIVIDEND DISTRIBUTIONS (Note 5) | ||||||||||||||||
From net investment income | — | (31,347 | ) | — | (31,859 | ) | ||||||||||
From capital gains | — | (4,031,923 | ) | — | (2,922,114 | ) | ||||||||||
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| |||||||||
Total distributions | — | (4,063,270 | ) | — | (2,953,973 | ) | ||||||||||
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|
|
|
|
| |||||||||
CAPITAL SHARE TRANSACTIONS (Note 4): | ||||||||||||||||
Net proceeds from sale of shares | 21,781,323 | 61,903,930 | 19,833,263 | 47,399,486 | ||||||||||||
Dividends reinvested | — | 4,063,270 | — | 2,953,973 | ||||||||||||
Cost of shares redeemed | (5,885,595 | ) | (5,846,734 | ) | (4,575,133 | ) | (4,677,246 | ) | ||||||||
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|
|
|
|
| |||||||||
NET INCREASE (DECREASE)IN NET ASSETSFROM CAPITAL SHARE TRANSACTIONS | 15,895,728 | 60,120,466 | 15,258,130 | 45,676,213 | ||||||||||||
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|
|
|
|
|
| |||||||||
INCREASE (DECREASE)IN NET ASSETS | 31,155,575 | 94,973,922 | 28,321,099 | 78,487,068 | ||||||||||||
NET ASSETS, BEGINNINGOF PERIOD | 256,744,729 | 161,770,807 | 211,759,858 | 133,272,790 | ||||||||||||
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|
|
|
| |||||||||
NET ASSETS, ENDOF PERIOD | $ | 287,900,304 | $ | 256,744,729 | $ | 240,080,957 | $ | 211,759,858 | ||||||||
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|
|
|
|
|
|
| |||||||||
ACCUMULATED UNDISTRIBUTED NET INVESTMENT INCOME (LOSS) | $ | 3,392,465 | $ | 3,459,110 | $ | 2,707,898 | $ | 2,762,712 | ||||||||
|
|
|
|
|
|
|
| |||||||||
OTHER INFORMATION: | ||||||||||||||||
Shares outstanding at the beginning of period | 220,409,889 | 164,296,317 | 177,408,455 | 135,356,937 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares sold | 18,437,257 | 57,548,135 | 16,381,634 | 43,450,256 | ||||||||||||
Shares issued as reinvestment of dividends | — | 4,027,315 | — | 2,900,142 | ||||||||||||
Shares redeemed | (4,981,782 | ) | (5,461,878 | ) | (3,822,047 | ) | (4,298,880 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) | 13,455,475 | 56,113,572 | 12,559,587 | 42,051,518 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding at the end of period | 233,865,364 | 220,409,889 | 189,968,042 | 177,408,455 | ||||||||||||
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|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements.
64
2035 Retirement Fund | 2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
$ | (45,144 | ) | $ | 2,007,101 | $ | (38,081 | ) | $ | 1,662,062 | $ | (48,294 | ) | $ | 2,071,835 | $ | (6,172 | ) | $ | 50,301 | |||||||||||||
3,094,656 | 2,389,225 | 2,320,011 | 2,259,283 | 2,157,411 | 2,648,744 | 92,944 | 72,749 | |||||||||||||||||||||||||
7,776,884 | 26,811,191 | 6,578,467 | 24,530,317 | 9,002,490 | 31,984,678 | 1,474,794 | 2,195,981 | |||||||||||||||||||||||||
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| |||||||||||||||||
10,826,396 | 31,207,517 | 8,860,397 | 28,451,662 | 11,111,607 | 36,705,257 | 1,561,566 | 2,319,031 | |||||||||||||||||||||||||
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| |||||||||||||||||
— | (30,023 | ) | — | (34,163 | ) | — | (48,673 | ) | — | (4,198 | ) | |||||||||||||||||||||
— | (2,220,980 | ) | — | (1,747,797 | ) | — | (1,994,464 | ) | — | (3,650 | ) | |||||||||||||||||||||
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|
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|
| |||||||||||||||||
— | (2,251,003 | ) | — | (1,781,960 | ) | — | (2,043,137 | ) | — | (7,848 | ) | |||||||||||||||||||||
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| |||||||||||||||||
18,382,503 | 38,583,673 | 11,568,891 | 28,828,922 | 15,803,191 | 33,663,673 | 9,941,259 | 16,278,216 | |||||||||||||||||||||||||
— | 2,251,003 | — | 1,781,960 | — | 2,043,137 | — | 7,848 | |||||||||||||||||||||||||
(3,170,743 | ) | (3,924,493 | ) | (2,597,082 | ) | (3,226,053 | ) | (2,382,525 | ) | (2,548,103 | ) | (311,133 | ) | (424,104 | ) | |||||||||||||||||
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| |||||||||||||||||
15,211,760 | 36,910,183 | 8,971,809 | 27,384,829 | 13,420,666 | 33,158,707 | 9,630,126 | 15,861,960 | |||||||||||||||||||||||||
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| |||||||||||||||||
26,038,156 | 65,866,697 | 17,832,206 | 54,054,531 | 24,532,273 | 67,820,827 | 11,191,692 | 18,173,143 | |||||||||||||||||||||||||
172,565,548 | 106,698,851 | 148,045,779 | 93,991,248 | 186,138,817 | 118,317,990 | 20,290,325 | 2,117,182 | |||||||||||||||||||||||||
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| |||||||||||||||||
$ | 198,603,704 | $ | 172,565,548 | $ | 165,877,985 | $ | 148,045,779 | $ | 210,671,090 | $ | 186,138,817 | $ | 31,482,017 | $ | 20,290,325 | |||||||||||||||||
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| |||||||||||||||||
$ | 2,016,232 | $ | 2,061,376 | $ | 1,671,240 | $ | 1,709,321 | $ | 2,070,071 | $ | 2,118,365 | $ | 42,180 | $ | 48,352 | |||||||||||||||||
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|
|
| |||||||||||||||||
144,301,756 | 110,190,376 | 123,313,696 | 97,860,427 | 154,880,979 | 123,735,275 | 15,556,794 | 2,079,203 | |||||||||||||||||||||||||
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| |||||||||||||||||
15,189,897 | 35,487,449 | 9,531,129 | 26,618,511 | 13,078,161 | 31,405,135 | 7,551,963 | 13,822,593 | |||||||||||||||||||||||||
— | 2,232,830 | — | 1,771,801 | — | 2,035,082 | — | 6,540 | |||||||||||||||||||||||||
(2,644,931 | ) | (3,608,899 | ) | (2,166,429 | ) | (2,937,043 | ) | (1,980,227 | ) | (2,294,513 | ) | (237,222 | ) | (351,542 | ) | |||||||||||||||||
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| |||||||||||||||||
12,544,966 | 34,111,380 | 7,364,700 | 25,453,269 | 11,097,934 | 31,145,704 | 7,314,741 | 13,477,591 | |||||||||||||||||||||||||
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| |||||||||||||||||
156,846,722 | 144,301,756 | 130,678,396 | 123,313,696 | 165,978,913 | 154,880,979 | 22,871,535 | 15,556,794 | |||||||||||||||||||||||||
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|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements.
65
MUTUAL OF AMERICA INVESTMENT CORPORATION
STATEMENTS OF CHANGES IN NET ASSETS (Continued)
Conservative Allocation Fund | Moderate Allocation Fund | |||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||
INCREASE (DECREASE)IN NET ASSETS: | ||||||||||||||||
FROM OPERATIONS: | ||||||||||||||||
Net investment income (loss) | $ | — | $ | 2,266,292 | $ | — | $ | 5,317,790 | ||||||||
Net realized gain (loss) on investments and futures contracts | 3,044,067 | 1,877,526 | 11,823,668 | 4,245,263 | ||||||||||||
Change in net unrealized appreciation (depreciation) of investments and | 1,820,097 | 2,361,443 | 4,500,828 | 27,206,974 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET INCREASE (DECREASE)IN NET ASSETS RESULTINGFROM OPERATIONS | 4,864,164 | 6,505,261 | 16,324,496 | 36,770,027 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
DIVIDEND DISTRIBUTIONS (Note 5) | ||||||||||||||||
From net investment income | — | (35,676 | ) | — | (55,911 | ) | ||||||||||
From capital gains | — | (1,126,105 | ) | — | (2,676,791 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total distributions | — | (1,161,781 | ) | — | (2,732,702 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
CAPITAL SHARE TRANSACTIONS (Note 4): | ||||||||||||||||
Net proceeds from sale of shares | 9,153,456 | 16,631,463 | 12,570,994 | 34,473,634 | ||||||||||||
Dividends reinvested | — | 1,161,781 | — | 2,732,702 | ||||||||||||
Cost of shares redeemed | (4,678,758 | ) | (11,904,513 | ) | (6,867,251 | ) | (15,051,678 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET INCREASE (DECREASE)IN NET ASSETSFROM CAPITAL SHARE TRANSACTIONS | 4,474,698 | 5,888,731 | 5,703,743 | 22,154,658 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
INCREASE (DECREASE)IN NET ASSETS | 9,338,862 | 11,232,211 | 22,028,239 | 56,191,983 | ||||||||||||
NET ASSETS, BEGINNINGOF PERIOD | 97,592,117 | 86,359,906 | 281,397,173 | 225,205,190 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS, ENDOF PERIOD | $ | 106,930,979 | $ | 97,592,117 | $ | 303,425,412 | $ | 281,397,173 | ||||||||
|
|
|
|
|
|
|
| |||||||||
ACCUMULATED UNDISTRIBUTED NET INVESTMENT INCOME (LOSS) | $ | 2,273,588 | $ | 2,273,588 | $ | 5,452,659 | $ | 5,452,659 | ||||||||
|
|
|
|
|
|
|
| |||||||||
OTHER INFORMATION: | ||||||||||||||||
Shares outstanding at the beginning of period | 79,934,785 | 74,926,086 | 193,762,078 | 177,299,750 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares sold | 7,354,143 | 14,084,437 | 8,520,236 | 25,407,537 | ||||||||||||
Shares issued as reinvestment of dividends | — | 1,005,801 | — | 2,096,356 | ||||||||||||
Shares redeemed | (3,761,157 | ) | (10,081,539 | ) | (4,659,754 | ) | (11,041,565 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net increase (decrease) | 3,592,986 | 5,008,699 | 3,860,482 | 16,462,328 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Shares outstanding at the end of period | 83,527,771 | 79,934,785 | 197,622,560 | 193,762,078 | ||||||||||||
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these financial statements.
66
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||||||||||||||
For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | For the Six Months Ended June 30, 2014 (Unaudited) | For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
$ | — | $ | 3,709,761 | $ | (49,952 | ) | $ | (137,712 | ) | $ | 5,562,644 | $ | 10,740,646 | $ | 14,667,944 | $ | 26,340,172 | |||||||||||||||
10,551,099 | 4,145,765 | 528 | 852 | 410,007 | 2,091,825 | 1,451,244 | (85,944 | ) | ||||||||||||||||||||||||
3,447,468 | 37,830,898 | (589 | ) | (176 | ) | 5,338,167 | (15,016,254 | ) | 23,448,215 | (34,036,246 | ) | |||||||||||||||||||||
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|
| |||||||||||||||||
13,998,567 | 45,686,424 | (50,013 | ) | (137,036 | ) | 11,310,818 | (2,183,783 | ) | 39,567,403 | (7,782,018 | ) | |||||||||||||||||||||
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| |||||||||||||||||
— | (56,754 | ) | — | — | — | (10,236,774 | ) | — | (23,755,259 | ) | ||||||||||||||||||||||
— | (2,318,315 | ) | — | — | — | (830,806 | ) | — | (1,270,568 | ) | ||||||||||||||||||||||
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| |||||||||||||||||
— | (2,375,069 | ) | — | — | — | (11,067,580 | ) | — | (25,025,827 | ) | ||||||||||||||||||||||
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| |||||||||||||||||
7,880,554 | 16,579,124 | 3,338,680 | 12,509,651 | 42,083,026 | 50,891,428 | 79,031,587 | 145,960,331 | |||||||||||||||||||||||||
— | 2,375,069 | — | — | — | 11,067,580 | — | 25,025,827 | |||||||||||||||||||||||||
(7,070,748 | ) | (12,758,545 | ) | (7,391,714 | ) | (18,318,388 | ) | (29,298,384 | ) | (43,885,429 | ) | (31,598,928 | ) | (87,040,137 | ) | |||||||||||||||||
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| �� |
|
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809,806 | 6,195,648 | (4,053,034 | ) | (5,808,737 | ) | 12,784,642 | 18,073,579 | 47,432,659 | 83,946,021 | |||||||||||||||||||||||
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14,808,373 | 49,507,003 | (4,103,047 | ) | (5,945,773 | ) | 24,095,460 | 4,822,216 | 87,000,062 | 51,138,176 | |||||||||||||||||||||||
236,424,159 | 186,917,156 | 83,986,933 | 89,932,706 | 392,138,450 | 387,316,234 | 803,884,548 | 752,746,372 | |||||||||||||||||||||||||
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$ | 251,232,532 | $ | 236,424,159 | $ | 79,883,886 | $ | 83,986,933 | $ | 416,233,910 | $ | 392,138,450 | $ | 890,884,610 | $ | 803,884,548 | |||||||||||||||||
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$ | 3,819,966 | $ | 3,819,966 | $ | (49,952 | ) | $ | — | $ | 16,303,288 | $ | 10,740,644 | $ | 41,008,116 | $ | 26,340,172 | ||||||||||||||||
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139,705,582 | 135,535,587 | 70,066,197 | 74,907,971 | 371,707,177 | 354,712,016 | 571,329,146 | 512,445,634 | |||||||||||||||||||||||||
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4,594,491 | 10,765,976 | 2,785,991 | 10,427,772 | 39,118,604 | 48,005,664 | 54,386,729 | 102,834,458 | |||||||||||||||||||||||||
— | 1,643,346 | — | — | — | 10,449,216 | — | 17,680,249 | |||||||||||||||||||||||||
(4,141,259 | ) | (8,239,327 | ) | (6,168,056 | ) | (15,269,546 | ) | (27,300,339 | ) | (41,459,719 | ) | (21,883,702 | ) | (61,631,195 | ) | |||||||||||||||||
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453,232 | 4,169,995 | (3,382,065 | ) | (4,841,774 | ) | 11,818,265 | 16,995,161 | 32,503,027 | 58,883,512 | |||||||||||||||||||||||
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140,158,814 | 139,705,582 | 66,684,132 | 70,066,197 | 383,525,442 | 371,707,177 | 603,832,173 | 571,329,146 | |||||||||||||||||||||||||
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The accompanying notes are an integral part of these financial statements.
67
MUTUAL OF AMERICA INVESTMENT CORPORATION
Income from investment operations and distributions per share for a Fund share outstanding throughout the six months ended June 30, 2014 and the five years ended December 31, 2013 (or since the Fund’s inception date if in existence less than five years) and other supplementary data with respect to each Fund are presented below and in the pages following:
Equity Index Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 3.09 | $ | 2.40 | $ | 2.07 | $ | 2.07 | $ | 1.84 | $ | 1.48 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | 0.03 | 0.05 | 0.05 | 0.04 | 0.03 | 0.03 | ||||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.18 | 0.70 | 0.28 | — | (f) | 0.23 | 0.36 | |||||||||||||||||
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Total From Investment Operations | 0.21 | 0.75 | 0.33 | 0.04 | 0.26 | 0.39 | ||||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | (0.04 | ) | — | (f) | (0.04 | ) | (0.03 | ) | (0.03 | ) | |||||||||||||
From Capital Gains | — | (0.02 | ) | — | — | — | — | |||||||||||||||||
From Return of Capital | — | — | — | — | — | — | ||||||||||||||||||
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Total Distributions | — | (0.06 | ) | — | (0.04 | ) | (0.03 | ) | (0.03 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 3.30 | $ | 3.09 | $ | 2.40 | $ | 2.07 | $ | 2.07 | $ | 1.84 | ||||||||||||
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Total Return (%) | 7.04 | (b) | 32.02 | 15.94 | 1.88 | 14.68 | 26.13 | |||||||||||||||||
Net Assets, End of Period ($ millions) | 1,591 | 1,556 | 1,109 | 929 | 905 | 768 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | 1.82 | (c) | 1.87 | 2.03 | 1.81 | 1.76 | 1.98 | |||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.17 | (c) | 0.19 | 0.22 | 0.23 | 0.25 | 0.26 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.17 | (c) | 0.19 | 0.22 | 0.23 | 0.25 | 0.26 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 3.92 | (b) | 3.90 | 6.45 | 5.26 | 4.50 | 4.29 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
68
All America Fund | Small Cap Value Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 2.38 | $ | 1.85 | $ | 1.61 | $ | 1.65 | $ | 1.42 | $ | 1.15 | $ | 1.72 | $ | 1.35 | $ | 1.17 | $ | 1.21 | $ | 0.96 | $ | 0.75 | |||||||||||||||||||||||||
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0.02 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | |||||||||||||||||||||||||||||||||||||
0.12 | 0.55 | 0.21 | (0.02 | ) | 0.23 | 0.28 | 0.05 | 0.36 | 0.16 | (0.04 | ) | 0.25 | 0.21 | |||||||||||||||||||||||||||||||||||
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0.14 | 0.58 | 0.24 | — | 0.25 | 0.30 | 0.06 | 0.39 | 0.18 | (0.03 | ) | 0.26 | 0.22 | ||||||||||||||||||||||||||||||||||||
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— | (0.03 | ) | — | (0.04 | ) | (0.02 | ) | (0.03 | ) | — | (0.02 | ) | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | |||||||||||||||||||||||||||||
— | (0.02 | ) | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
— | — | — | — | — | — | — | — | — | — | — | — | (f) | ||||||||||||||||||||||||||||||||||||
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— | (0.05 | ) | — | (0.04 | ) | (0.02 | ) | (0.03 | ) | — | (0.02 | ) | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | |||||||||||||||||||||||||||||
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$ | 2.52 | $ | 2.38 | $ | 1.85 | $ | 1.61 | $ | 1.65 | $ | 1.42 | $ | 1.78 | $ | 1.72 | $ | 1.35 | $ | 1.17 | $ | 1.21 | $ | 0.96 | |||||||||||||||||||||||||
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5.93 | (b) | 32.13 | 14.73 | 0.24 | 17.78 | 25.31 | 3.95 | (b) | 29.35 | 15.46 | (2.46 | ) | 27.72 | 29.28 | ||||||||||||||||||||||||||||||||||
322 | 318 | 256 | 250 | 271 | 256 | 385 | 382 | 290 | 260 | 277 | 205 | |||||||||||||||||||||||||||||||||||||
1.31 | (c) | 1.44 | 1.52 | 1.24 | 1.21 | 1.46 | 0.86 | (c) | 1.70 | 1.67 | 0.92 | 0.99 | 1.30 | |||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.56 | 0.57 | 0.58 | 0.81 | (c) | 0.87 | 0.90 | 0.90 | 0.92 | 0.93 | |||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.56 | 0.57 | 0.58 | 0.81 | (c) | 0.87 | 0.90 | 0.90 | 0.92 | 0.93 | |||||||||||||||||||||||||||||||||||
8.51 | (b) | 28.48 | 17.37 | 24.67 | 22.71 | 35.15 | 14.87 | (b) | 41.36 | 24.71 | 23.34 | 35.34 | 39.03 |
The accompanying notes are an integral part of these financial statements.
69
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
Small Cap Growth Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.58 | $ | 1.22 | $ | 1.16 | $ | 1.19 | $ | 0.89 | $ | 0.70 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | (f) | — | (f) | — | (f) | — | (f) | — | (f) | — | (f) | ||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.02 | 0.47 | 0.07 | (0.03 | ) | 0.30 | 0.19 | |||||||||||||||||
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Total From Investment Operations | 0.02 | 0.47 | 0.07 | (0.03 | ) | 0.30 | 0.19 | |||||||||||||||||
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Less: Dividend Distributions: | �� | |||||||||||||||||||||||
From Net Investment Income | — | — | — | — | — | — | ||||||||||||||||||
From Capital Gains | — | (0.11 | ) | (0.01 | ) | — | — | — | ||||||||||||||||
From Return of Capital | — | — | — | — | — | — | ||||||||||||||||||
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Total Distributions | — | (0.11 | ) | (0.01 | ) | — | — | — | ||||||||||||||||
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Net Asset Value, End of Period | $ | 1.60 | $ | 1.58 | $ | 1.22 | $ | 1.16 | $ | 1.19 | $ | 0.89 | ||||||||||||
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Total Return (%) | 1.10 | (b) | 41.19 | 5.62 | (2.28 | ) | 33.27 | 27.69 | ||||||||||||||||
Net Assets, End of Period ($ millions) | 402 | 424 | 272 | 271 | 281 | 194 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | (0.17 | )(c) | 0.19 | (0.08 | ) | (0.31 | ) | (0.26 | ) | (0.26 | ) | |||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.84 | (c) | 0.86 | 0.90 | 0.90 | 0.92 | 0.93 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.84 | (c) | 0.86 | 0.90 | 0.90 | 0.92 | 0.93 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 31.44 | (b) | 53.36 | 66.69 | 59.53 | 50.73 | 94.14 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
70
Mid Cap Value Fund | Mid-Cap Equity Index Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.53 | $ | 1.23 | $ | 1.11 | $ | 1.15 | $ | 0.98 | $ | 0.79 | $ | 2.08 | $ | 1.63 | $ | 1.43 | $ | 1.51 | $ | 1.24 | $ | 0.93 | |||||||||||||||||||||||||
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0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | |||||||||||||||||||||||||||||||||||||
0.13 | 0.33 | 0.10 | (0.04 | ) | 0.17 | 0.19 | 0.15 | 0.51 | 0.24 | (0.05 | ) | 0.31 | 0.32 | |||||||||||||||||||||||||||||||||||
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0.14 | 0.34 | 0.12 | (0.03 | ) | 0.18 | 0.20 | 0.16 | 0.53 | 0.26 | (0.03 | ) | 0.32 | 0.33 | |||||||||||||||||||||||||||||||||||
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— | (0.01 | ) | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | — | (0.02 | ) | — | (0.02 | ) | (0.01 | ) | (0.01 | ) | |||||||||||||||||||||||||||||
— | (0.03 | ) | — | — | — | — | — | (0.06 | ) | (0.06 | ) | (0.03 | ) | (0.04 | ) | (0.01 | ) | |||||||||||||||||||||||||||||||
— | — | — | — | — | — | (f) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
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— | (0.04 | ) | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | — | (0.08 | ) | (0.06 | ) | (0.05 | ) | (0.05 | ) | (0.02 | ) | ||||||||||||||||||||||||||||
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$ | 1.67 | $ | 1.53 | $ | 1.23 | $ | 1.11 | $ | 1.15 | $ | 0.98 | $ | 2.24 | $ | 2.08 | $ | 1.63 | $ | 1.43 | $ | 1.51 | $ | 1.24 | |||||||||||||||||||||||||
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9.10 | (b) | 27.78 | 11.01 | (2.12 | ) | 18.94 | 25.22 | 7.44 | (b) | 33.21 | 17.80 | (1.99 | ) | 26.28 | 36.69 | |||||||||||||||||||||||||||||||||
88 | 72 | 53 | 51 | 55 | 42 | 961 | 902 | 610 | 505 | 494 | 377 | |||||||||||||||||||||||||||||||||||||
1.13 | (c) | 1.08 | 1.36 | 1.19 | 1.25 | 1.57 | 1.50 | (c) | 1.25 | 1.50 | 1.14 | 1.16 | 1.41 | |||||||||||||||||||||||||||||||||||
0.64 | (c) | 0.66 | 0.70 | 0.70 | 0.72 | 0.73 | 0.17 | (c) | 0.19 | 0.22 | 0.23 | 0.25 | 0.26 | |||||||||||||||||||||||||||||||||||
0.64 | (c) | 0.66 | 0.70 | 0.70 | 0.72 | 0.73 | 0.17 | (c) | 0.19 | 0.22 | 0.23 | 0.25 | 0.26 | |||||||||||||||||||||||||||||||||||
26.63 | (b) | 36.42 | 29.05 | 12.99 | 29.88 | 20.16 | 9.65 | (b) | 13.30 | 12.98 | 15.98 | 13.29 | 15.41 |
The accompanying notes are an integral part of these financial statements.
71
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
International Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 0.84 | $ | 0.71 | $ | 0.60 | $ | 0.71 | $ | 0.67 | $ | 0.55 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | ||||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.02 | 0.13 | 0.09 | (0.11 | ) | 0.04 | 0.13 | |||||||||||||||||
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Total From Investment Operations | 0.03 | 0.15 | 0.11 | (0.09 | ) | 0.06 | 0.14 | |||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | (0.02 | ) | — | (f) | (0.02 | ) | (0.02 | ) | (0.01 | ) | |||||||||||||
From Capital Gains | — | — | — | (f) | — | (f) | — | — | ||||||||||||||||
From Return of Capital | — | — | — | — | — | (0.01 | ) | |||||||||||||||||
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Total Distributions | — | (0.02 | ) | — | (0.02 | ) | (0.02 | ) | (0.02 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 0.87 | $ | 0.84 | $ | 0.71 | $ | 0.60 | $ | 0.71 | $ | 0.67 | ||||||||||||
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Total Return (%) | 4.15 | (b) | 21.00 | 18.24 | (12.60 | ) | 8.32 | 25.22 | ||||||||||||||||
Net Assets, End of Period ($ millions) | 267 | 174 | 115 | 69 | 61 | 33 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | 5.45 | (c) | 2.76 | 3.20 | 3.24 | 3.48 | 3.45 | |||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.16 | (c) | 0.18 | 0.21 | 0.23 | 0.24 | 0.25 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.16 | (c) | 0.18 | 0.21 | 0.23 | 0.24 | 0.25 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 0.69 | (b) | 10.22 | 0.28 | 1.44 | 9.17 | 4.95 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
72
Composite Fund | Retirement Income Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.87 | $ | 1.64 | $ | 1.47 | $ | 1.50 | $ | 1.39 | $ | 1.20 | $ | 1.13 | $ | 1.07 | $ | 1.05 | $ | 1.03 | $ | 0.97 | $ | 0.83 | |||||||||||||||||||||||||
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0.02 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | — | (f) | 0.02 | — | (f) | 0.03 | 0.02 | 0.03 | |||||||||||||||||||||||||||||||||||
0.09 | 0.23 | 0.13 | — | 0.11 | 0.19 | 0.05 | 0.06 | 0.07 | 0.02 | 0.07 | 0.11 | |||||||||||||||||||||||||||||||||||||
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0.11 | 0.27 | 0.17 | 0.04 | 0.15 | 0.23 | 0.05 | 0.08 | 0.07 | 0.05 | 0.09 | 0.14 | |||||||||||||||||||||||||||||||||||||
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— | (0.04 | ) | — | (f) | (0.07 | ) | (0.04 | ) | (0.04 | ) | — | — | (f) | (0.03 | ) | (0.03 | ) | (0.02 | ) | — | (f) | |||||||||||||||||||||||||||
— | — | — | — | — | — | — | (0.02 | ) | (0.02 | ) | — | (f) | (0.01 | ) | — | |||||||||||||||||||||||||||||||||
— | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
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— | (0.04 | ) | — | (0.07 | ) | (0.04 | ) | (0.04 | ) | — | (0.02 | ) | (0.05 | ) | (0.03 | ) | (0.03 | ) | — | |||||||||||||||||||||||||||||
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$ | 1.98 | $ | 1.87 | $ | 1.64 | $ | 1.47 | $ | 1.50 | $ | 1.39 | $ | 1.18 | $ | 1.13 | $ | 1.07 | $ | 1.05 | $ | 1.03 | $ | 0.97 | |||||||||||||||||||||||||
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5.59 | (b) | 16.37 | 11.65 | 2.84 | 11.02 | 18.45 | 4.50 | (b) | 7.40 | 7.15 | 4.72 | 9.04 | 16.25 | |||||||||||||||||||||||||||||||||||
190 | 186 | 170 | 161 | 167 | 166 | 44 | 40 | 31 | 23 | 18 | 9 | |||||||||||||||||||||||||||||||||||||
2.08 | (c) | 2.04 | 2.17 | 2.22 | 2.26 | 2.74 | (0.05 | )(c) | 2.18 | (0.03 | ) | 3.03 | 3.65 | 4.39 | ||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.56 | 0.57 | 0.58 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.56 | 0.57 | 0.58 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
8.24 | (b) | 20.98 | 25.42 | 22.69 | 36.00 | 31.73 | 8.33 | (b) | 24.01 | 18.07 | 23.77 | 17.62 | 35.31 |
The accompanying notes are an integral part of these financial statements.
73
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
2010 Retirement Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.06 | $ | 1.00 | $ | 0.97 | $ | 0.96 | $ | 0.87 | $ | 0.74 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | (f) | 0.02 | — | (f) | 0.02 | 0.02 | 0.02 | ||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.06 | 0.09 | 0.09 | 0.01 | 0.07 | 0.13 | ||||||||||||||||||
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Total From Investment Operations | 0.06 | 0.11 | 0.09 | 0.03 | 0.09 | 0.15 | ||||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | — | (f) | (0.02 | ) | (0.02 | ) | — | (f) | (0.02 | ) | |||||||||||||
From Capital Gains | — | (0.05 | ) | (0.04 | ) | — | (f) | — | (f) | — | (f) | |||||||||||||
From Return of Capital | — | — | — | — | — | — | (f) | |||||||||||||||||
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Total Distributions | — | (0.05 | ) | (0.06 | ) | (0.02 | ) | — | (0.02 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 1.12 | $ | 1.06 | $ | 1.00 | $ | 0.97 | $ | 0.96 | $ | 0.87 | ||||||||||||
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Total Return (%) | 4.95 | (b) | 11.78 | 9.69 | 3.08 | 11.36 | 19.79 | |||||||||||||||||
Net Assets, End of Period ($ millions) | 25 | 24 | 21 | 21 | 19 | 15 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | (0.05 | )(c) | 2.09 | (0.03 | ) | 2.41 | 2.67 | 3.51 | ||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 13.61 | (b) | 19.60 | 26.61 | 21.22 | 18.31 | 38.17 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
74
2015 Retirement Fund | 2020 Retirement Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.10 | $ | 1.00 | $ | 0.93 | $ | 0.93 | $ | 0.83 | $ | 0.70 | $ | 1.13 | $ | 0.99 | $ | 0.90 | $ | 0.91 | $ | 0.80 | $ | 0.66 | |||||||||||||||||||||||||
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— | (f) | 0.02 | — | (f) | 0.02 | 0.02 | 0.02 | — | (f) | 0.02 | — | (f) | 0.02 | 0.02 | 0.02 | |||||||||||||||||||||||||||||||||
0.06 | 0.12 | 0.10 | — | (f) | 0.08 | 0.13 | 0.06 | 0.14 | 0.11 | (0.01 | ) | 0.09 | 0.14 | |||||||||||||||||||||||||||||||||||
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0.06 | 0.14 | 0.10 | 0.02 | 0.10 | 0.15 | 0.06 | 0.16 | 0.11 | 0.01 | 0.11 | 0.16 | |||||||||||||||||||||||||||||||||||||
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— | — | (f) | (0.02 | ) | (0.02 | ) | — | (f) | (0.02 | ) | — | — | (f) | (0.02 | ) | (0.02 | ) | — | (f) | (0.02 | ) | |||||||||||||||||||||||||||
— | (0.04 | ) | (0.01 | ) | — | (f) | — | (f) | — | (f) | — | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | |||||||||||||||||||||||||||
— | — | — | — | — | — | (f) | — | — | — | — | — | — | (f) | |||||||||||||||||||||||||||||||||||
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— | (0.04 | ) | (0.03 | ) | (0.02 | ) | — | (0.02 | ) | — | (0.02 | ) | (0.02 | ) | (0.02 | ) | — | (0.02 | ) | |||||||||||||||||||||||||||||
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$ | 1.16 | $ | 1.10 | $ | 1.00 | $ | 0.93 | $ | 0.93 | $ | 0.83 | $ | 1.19 | $ | 1.13 | $ | 0.99 | $ | 0.90 | $ | 0.91 | $ | 0.80 | |||||||||||||||||||||||||
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5.20 | (b) | 14.80 | 10.59 | 2.09 | 12.27 | 21.27 | 5.37 | (b) | 17.72 | 11.69 | 1.55 | 13.90 | 23.18 | |||||||||||||||||||||||||||||||||||
142 | 138 | 112 | 91 | 78 | 44 | 279 | 251 | 169 | 118 | 90 | 50 | |||||||||||||||||||||||||||||||||||||
(0.05 | )(c) | 2.07 | (0.03 | ) | 2.53 | 2.79 | 3.45 | (0.05 | )(c) | 1.85 | (0.03 | ) | 2.63 | 2.76 | 3.61 | |||||||||||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
10.85 | (b) | 11.83 | 19.59 | 8.10 | 5.64 | 26.96 | 8.55 | (b) | 3.56 | 9.89 | 4.73 | 2.62 | 13.70 |
The accompanying notes are an integral part of these financial statements.
75
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
2025 Retirement Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.16 | $ | 0.98 | $ | 0.89 | $ | 0.90 | $ | 0.78 | $ | 0.64 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | (f) | 0.02 | — | (f) | 0.02 | 0.02 | 0.02 | ||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.07 | 0.18 | 0.11 | (0.02 | ) | 0.10 | 0.14 | |||||||||||||||||
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Total From Investment Operations | 0.07 | 0.20 | 0.11 | — | 0.12 | 0.16 | ||||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | — | (f) | (0.02 | ) | (0.01 | ) | — | (f) | (0.02 | ) | |||||||||||||
From Capital Gains | — | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | |||||||||||||
From Return of Capital | — | — | — | — | — | — | (f) | |||||||||||||||||
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Total Distributions | — | (0.02 | ) | (0.02 | ) | (0.01 | ) | — | (0.02 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 1.23 | $ | 1.16 | $ | 0.98 | $ | 0.89 | $ | 0.90 | $ | 0.78 | ||||||||||||
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Total Return (%) | 5.67 | (b) | 21.11 | 12.90 | 0.83 | 15.49 | 25.10 | |||||||||||||||||
Net Assets, End of Period ($ millions) | 288 | 257 | 162 | 109 | 81 | 42 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | (0.05 | )(c) | 1.67 | (0.04 | ) | 2.49 | 2.50 | 3.25 | ||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 5.28 | (b) | 1.49 | 8.59 | 2.52 | 3.16 | 9.21 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
76
2030 Retirement Fund | 2035 Retirement Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.19 | $ | 0.98 | $ | 0.88 | $ | 0.90 | $ | 0.77 | $ | 0.62 | $ | 1.20 | $ | 0.97 | $ | 0.86 | $ | 0.88 | $ | 0.75 | $ | 0.60 | |||||||||||||||||||||||||
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— | (f) | 0.02 | — | (f) | 0.02 | 0.02 | 0.01 | — | (f) | 0.01 | — | (f) | 0.01 | 0.01 | 0.01 | |||||||||||||||||||||||||||||||||
0.07 | 0.21 | 0.12 | (0.02 | ) | 0.11 | 0.15 | 0.07 | 0.24 | 0.13 | (0.02 | ) | 0.12 | 0.15 | |||||||||||||||||||||||||||||||||||
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0.07 | 0.23 | 0.12 | — | 0.13 | 0.16 | 0.07 | 0.25 | 0.13 | (0.01 | ) | 0.13 | 0.16 | ||||||||||||||||||||||||||||||||||||
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— | — | (f) | (0.02 | ) | (0.02 | ) | — | (f) | (0.01 | ) | — | — | (f) | (0.02 | ) | (0.01 | ) | — | (f) | (0.01 | ) | |||||||||||||||||||||||||||
— | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | — | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | |||||||||||||||||||||||||||
— | — | — | — | — | — | (f) | — | — | — | — | — | — | (f) | |||||||||||||||||||||||||||||||||||
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— | (0.02 | ) | (0.02 | ) | (0.02 | ) | — | (0.01 | ) | — | (0.02 | ) | (0.02 | ) | (0.01 | ) | — | (0.01 | ) | |||||||||||||||||||||||||||||
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$ | 1.26 | $ | 1.19 | $ | 0.98 | $ | 0.88 | $ | 0.90 | $ | 0.77 | $ | 1.27 | $ | 1.20 | $ | 0.97 | $ | 0.86 | $ | 0.88 | $ | 0.75 | |||||||||||||||||||||||||
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5.87 | (b) | 23.72 | 13.69 | 0.21 | 16.59 | 26.47 | 5.87 | (b) | 25.92 | 14.39 | (0.63 | ) | 17.66 | 27.05 | ||||||||||||||||||||||||||||||||||
240 | 212 | 133 | 90 | 67 | 35 | 199 | 173 | 107 | 69 | 53 | 27 | |||||||||||||||||||||||||||||||||||||
(0.05 | )(c) | 1.60 | (0.04 | ) | 2.37 | 2.37 | 3.07 | (0.05 | )(c) | 1.47 | (0.04 | ) | 2.17 | 2.20 | 2.74 | |||||||||||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||
4.44 | (b) | 1.58 | 7.61 | 2.66 | 1.74 | 8.96 | 3.21 | (b) | 1.76 | 6.51 | 2.78 | 1.47 | 6.27 |
The accompanying notes are an integral part of these financial statements.
77
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
2040 Retirement Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.20 | $ | 0.96 | $ | 0.85 | $ | 0.88 | $ | 0.74 | $ | 0.59 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | (f) | 0.01 | — | (f) | 0.01 | 0.01 | 0.01 | ||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.07 | 0.25 | 0.13 | (0.03 | ) | 0.13 | 0.15 | |||||||||||||||||
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Total From Investment Operations | 0.07 | 0.26 | 0.13 | (0.02 | ) | 0.14 | 0.16 | |||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | — | (f) | (0.02 | ) | (0.01 | ) | — | (f) | (0.01 | ) | |||||||||||||
From Capital Gains | — | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | |||||||||||||
From Return of Capital | — | — | — | — | — | — | (f) | |||||||||||||||||
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Total Distributions | — | (0.02 | ) | (0.02 | ) | (0.01 | ) | — | (0.01 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 1.27 | $ | 1.20 | $ | 0.96 | $ | 0.85 | $ | 0.88 | $ | 0.74 | ||||||||||||
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Total Return (%) | 5.72 | (b) | 27.20 | 14.63 | (1.24 | ) | 18.38 | 27.84 | ||||||||||||||||
Net Assets, End of Period ($ millions) | 166 | 148 | 94 | 62 | 47 | 23 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | (0.05 | )(c) | 1.39 | (0.04 | ) | 2.09 | 2.13 | 2.75 | ||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) | 0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | 2.91 | (b) | 1.37 | 4.99 | 2.28 | 1.37 | 5.79 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
78
2045 Retirement Fund | 2050 Retirement Fund | |||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Year Ended December 31, | Period Ended December 31, | ||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012(e) | ||||||||||||||||||||||||||||||
$ | 1.20 | $ | 0.96 | $ | 0.85 | $ | 0.88 | $ | 0.74 | $ | 0.59 | $ | 1.30 | $ | 1.02 | $ | 1.00 | |||||||||||||||||||
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— | (f) | 0.01 | — | (f) | 0.01 | 0.01 | 0.01 | — | (f) | — | (f) | — | (f) | |||||||||||||||||||||||
0.07 | 0.25 | 0.13 | (0.03 | ) | 0.13 | 0.15 | 0.08 | 0.28 | 0.02 | |||||||||||||||||||||||||||
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0.07 | 0.26 | 0.13 | (0.02 | ) | 0.14 | 0.16 | 0.08 | 0.28 | 0.02 | |||||||||||||||||||||||||||
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— | — | (f) | (0.02 | ) | (0.01 | ) | — | (f) | (0.01 | ) | — | — | (f) | — | ||||||||||||||||||||||
— | (0.02 | ) | — | (f) | — | (f) | — | (f) | — | (f) | — | — | (f) | — | ||||||||||||||||||||||
— | — | — | — | — | — | (f) | — | — | — | |||||||||||||||||||||||||||
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— | (0.02 | ) | (0.02 | ) | (0.01 | ) | — | (0.01 | ) | — | — | — | ||||||||||||||||||||||||
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$ | 1.27 | $ | 1.20 | $ | 0.96 | $ | 0.85 | $ | 0.88 | $ | 0.74 | $ | 1.38 | $ | 1.30 | $ | 1.02 | |||||||||||||||||||
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5.58 | (b) | 27.68 | 14.45 | (1.45 | ) | 18.57 | 27.55 | 5.52 | (b) | 28.17 | 1.83 | (b) | ||||||||||||||||||||||||
211 | 186 | 118 | 76 | 54 | 25 | 31 | 20 | 2 | ||||||||||||||||||||||||||||
(0.05 | )(c) | 1.37 | (0.04 | ) | 2.09 | 2.14 | 2.61 | (0.05 | )(c) | 0.54 | (0.01 | )(b) | ||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | (c) | |||||||||||||||||||||||||
0.05 | (c) | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | (c) | 0.05 | 0.05 | (c) | |||||||||||||||||||||||||
2.10 | (b) | 0.93 | 4.03 | 1.97 | 1.04 | 7.87 | 1.58 | (b) | 1.22 | 0.76 | (b) |
The accompanying notes are an integral part of these financial statements.
79
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
Conservative Allocation Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.22 | $ | 1.15 | $ | 1.11 | $ | 1.08 | $ | 0.99 | $ | 0.89 | ||||||||||||
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INCOME (LOSS) FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | 0.03 | — | (f) | 0.03 | 0.03 | 0.03 | |||||||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | 0.06 | 0.05 | 0.08 | 0.03 | 0.06 | 0.11 | ||||||||||||||||||
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Total From Investment Operations | 0.06 | 0.08 | 0.08 | 0.06 | 0.09 | 0.14 | ||||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | — | (f) | (0.03 | ) | (0.03 | ) | — | (f) | (0.03 | ) | |||||||||||||
From Capital Gains | — | (0.01 | ) | (0.01 | ) | — | (f) | — | (f) | (0.01 | ) | |||||||||||||
From Return of Capital | — | — | — | — | — | — | ||||||||||||||||||
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Total Distributions | — | (0.01 | ) | (0.04 | ) | (0.03 | ) | — | (0.04 | ) | ||||||||||||||
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Net Asset Value, End of Period | $ | 1.28 | $ | 1.22 | $ | 1.15 | $ | 1.11 | $ | 1.08 | $ | 0.99 | ||||||||||||
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Total Return (%) | 4.84 | (b) | 7.34 | 7.44 | 5.79 | 9.34 | 15.94 | |||||||||||||||||
Net Assets, End of Period ($ millions) | 107 | 98 | 86 | 66 | 52 | 38 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | — | 2.45 | 0.03 | 3.40 | 3.47 | 4.24 | ||||||||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%)(d) | — | — | — | — | — | — | ||||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%)(d) | — | — | — | — | — | — | ||||||||||||||||||
Portfolio Turnover Rate (%)(a) | 15.08 | (b) | 10.16 | 10.14 | 12.14 | 20.11 | 14.24 |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
80
Moderate Allocation Fund | Aggressive Allocation Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.45 | $ | 1.27 | $ | 1.18 | $ | 1.16 | $ | 1.03 | $ | 0.88 | $ | 1.69 | $ | 1.38 | $ | 1.24 | $ | 1.24 | $ | 1.06 | $ | 0.86 | |||||||||||||||||||||||||
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— | 0.03 | — | (f) | 0.03 | 0.03 | 0.03 | — | 0.03 | — | (f) | 0.02 | 0.02 | 0.02 | |||||||||||||||||||||||||||||||||||
0.09 | 0.16 | 0.13 | 0.02 | 0.11 | 0.15 | 0.10 | 0.30 | 0.17 | — | (f) | 0.16 | 0.20 | ||||||||||||||||||||||||||||||||||||
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0.09 | 0.19 | 0.13 | 0.05 | 0.14 | 0.18 | 0.10 | 0.33 | 0.17 | 0.02 | 0.18 | 0.22 | |||||||||||||||||||||||||||||||||||||
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— | — | (f) | (0.03 | ) | (0.03 | ) | — | (f) | (0.03 | ) | — | — | (f) | (0.03 | ) | (0.02 | ) | — | (f) | (0.02 | ) | |||||||||||||||||||||||||||
— | (0.01 | ) | (0.01 | ) | — | (f) | (0.01 | ) | — | (f) | — | (0.02 | ) | — | (f) | — | — | — | (f) | |||||||||||||||||||||||||||||
— | — | — | — | — | — | (f) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
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— | (0.01 | ) | (0.04 | ) | (0.03 | ) | (0.01 | ) | (0.03 | ) | — | (0.02 | ) | (0.03 | ) | (0.02 | ) | — | (0.02 | ) | ||||||||||||||||||||||||||||
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$ | 1.54 | $ | 1.45 | $ | 1.27 | $ | 1.18 | $ | 1.16 | $ | 1.03 | $ | 1.79 | $ | 1.69 | $ | 1.38 | $ | 1.24 | $ | 1.24 | $ | 1.06 | |||||||||||||||||||||||||
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5.71 | (b) | 15.66 | 10.90 | 4.19 | 13.11 | 21.27 | 5.91 | (b) | 24.19 | 13.41 | 2.31 | 17.02 | 25.64 | |||||||||||||||||||||||||||||||||||
303 | 281 | 225 | 182 | 163 | 125 | 251 | 236 | 187 | 158 | 147 | 117 | |||||||||||||||||||||||||||||||||||||
— | 2.09 | 0.02 | 2.68 | 2.73 | 3.22 | — | 1.75 | 0.01 | 2.13 | 2.07 | 2.44 | |||||||||||||||||||||||||||||||||||||
— | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
— | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
11.84 | (b) | 4.71 | 8.11 | 11.21 | 15.68 | 15.29 | 17.47 | (b) | 4.93 | 7.82 | 7.73 | 12.91 | 11.70 |
The accompanying notes are an integral part of these financial statements.
81
MUTUAL OF AMERICA INVESTMENT CORPORATION
FINANCIAL HIGHLIGHTS (Continued)
Money Market Fund | ||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Net Asset Value, Beginning of Period | $ | 1.20 | $ | 1.20 | $ | 1.20 | $ | 1.20 | $ | 1.21 | $ | 1.21 | ||||||||||||
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INCOME (LOSS)FROM INVESTMENT OPERATIONS: | ||||||||||||||||||||||||
Net Investment Income (Loss) | — | (f) | — | (f) | — | (f) | — | (f) | — | (f) | — | (f) | ||||||||||||
Net Realized and Unrealized Gains (Losses) on Investments and Futures Contracts | — | (f) | — | (f) | — | (f) | — | (f) | (0.01 | ) | — | (f) | ||||||||||||
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Total From Investment Operations | — | — | — | — | (0.01 | ) | — | |||||||||||||||||
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Less: Dividend Distributions: | ||||||||||||||||||||||||
From Net Investment Income | — | — | — | — | — | — | (f) | |||||||||||||||||
From Capital Gains | — | — | — | — | — | — | (f) | |||||||||||||||||
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Total Distributions | — | — | — | — | — | — | ||||||||||||||||||
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Net Asset Value, End of Period | $ | 1.20 | $ | 1.20 | $ | 1.20 | $ | 1.20 | $ | 1.20 | $ | 1.21 | ||||||||||||
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Total Return (%) | (0.07 | )(b) | (0.16 | ) | (0.17 | ) | (0.17 | ) | (0.14 | ) | (0.08 | ) | ||||||||||||
Net Assets, End of Period ($ millions) | 80 | 84 | 90 | 101 | 109 | 119 | ||||||||||||||||||
Ratio of Net Investment Income (Loss) to Average Net Assets (%) | (0.12 | )(c) | (0.16 | ) | (0.18 | ) | (0.17 | ) | (0.15 | ) | (0.04 | ) | ||||||||||||
Ratio of Expenses to Average Net Assets Before Expense Reimbursement (%) | 0.22 | (c) | 0.27 | 0.30 | 0.31 | 0.32 | 0.33 | |||||||||||||||||
Ratio of Expenses to Average Net Assets After Expense Reimbursement (%) | 0.22 | (c) | 0.27 | 0.30 | 0.31 | 0.32 | 0.33 | |||||||||||||||||
Portfolio Turnover Rate (%)(a) | NA | NA | NA | NA | NA | NA |
(a) | Portfolio turnover rate excludes all short-term securities. |
(b) | Not annualized. |
(c) | Annualized. |
(d) | Allocation and Retirement Funds exclude expenses of the underlying funds. |
(e) | For the period October 1, 2012 (commencement of operations) through December 31, 2012. |
(f) | Amount is less than $0.005 per share. |
NA = Not Applicable
The accompanying notes are an integral part of these financial statements.
82
Mid-Term Bond Fund | Bond Fund | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | Six Months Ended June 30, 2014 (Unaudited) | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||||||||||||||||
$ | 1.05 | $ | 1.09 | $ | 1.06 | $ | 1.03 | $ | 1.00 | $ | 0.94 | $ | 1.41 | $ | 1.47 | $ | 1.39 | $ | 1.34 | $ | 1.30 | $ | 1.18 | |||||||||||||||||||||||||
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0.01 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.02 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | |||||||||||||||||||||||||||||||||||||
0.03 | (0.04 | ) | — | (f) | 0.03 | 0.02 | 0.07 | 0.05 | (0.06 | ) | 0.03 | 0.05 | 0.04 | 0.12 | ||||||||||||||||||||||||||||||||||
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0.04 | (0.01 | ) | 0.03 | 0.06 | 0.06 | 0.11 | 0.07 | (0.01 | ) | 0.08 | 0.10 | 0.09 | 0.17 | |||||||||||||||||||||||||||||||||||
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— | (0.03 | ) | — | (f) | (0.03 | ) | (0.03 | ) | (0.04 | ) | — | (0.05 | ) | — | (f) | (0.05 | ) | (0.05 | ) | (0.05 | ) | |||||||||||||||||||||||||||
— | — | (f) | — | (f) | — | — | (f) | (0.01 | ) | — | — | (f) | — | — | — | — | ||||||||||||||||||||||||||||||||
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— | (0.03 | ) | — | (0.03 | ) | (0.03 | ) | (0.05 | ) | — | (0.05 | ) | — | (0.05 | ) | (0.05 | ) | (0.05 | ) | |||||||||||||||||||||||||||||
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$ | 1.09 | $ | 1.05 | $ | 1.09 | $ | 1.06 | $ | 1.03 | $ | 1.00 | $ | 1.48 | $ | 1.41 | $ | 1.47 | $ | 1.39 | $ | 1.34 | $ | 1.30 | |||||||||||||||||||||||||
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2.86 | (b) | (0.55 | ) | 3.33 | 6.34 | 6.93 | 11.22 | 4.84 | (b) | (0.91 | ) | 5.79 | 7.30 | 7.29 | 14.61 | |||||||||||||||||||||||||||||||||
416 | 392 | 387 | 338 | 298 | 234 | 891 | 804 | 753 | 635 | 597 | 488 | |||||||||||||||||||||||||||||||||||||
2.81 | (c) | 2.77 | 2.94 | 3.02 | 3.66 | 4.16 | 3.54 | (c) | 3.35 | 3.55 | 3.61 | 3.81 | 4.62 | |||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.55 | 0.57 | 0.58 | 0.47 | (c) | 0.51 | 0.55 | 0.55 | 0.57 | 0.58 | |||||||||||||||||||||||||||||||||||
0.48 | (c) | 0.51 | 0.55 | 0.55 | 0.57 | 0.58 | 0.47 | (c) | 0.51 | 0.55 | 0.55 | 0.57 | 0.58 | |||||||||||||||||||||||||||||||||||
20.09 | (b) | 23.94 | 14.30 | 23.69 | 16.70 | 30.76 | 8.56 | (b) | 27.41 | 28.89 | 30.24 | 40.33 | 46.27 |
The accompanying notes are an integral part of these financial statements.
83
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION |
Mutual of America Investment Corporation (the “Investment Company”) is a diversified, open-end management investment company — a type of company commonly known as a “mutual fund”. It is registered as such under the Investment Company Act of 1940 (the “Investment Company Act”). The Investment Company was formed on February 21, 1986 as a Maryland corporation and principally offers its shares exclusively to separate accounts of Mutual of America Life Insurance Company (“Mutual of America Life”) and its affiliates. As a “series” type mutual fund, the Investment Company issues separate classes (or series) of capital stock, each of which represents a separate Fund of investments. At June 30, 2014, there were 24 active Funds (collectively, “the Funds”): Equity Index Fund, All America Fund, Small Cap Value Fund, Small Cap Growth Fund, Mid Cap Value Fund, Mid-Cap Equity Index Fund, International Fund, Composite Fund, Money Market Fund, Mid-Term Bond Fund, Bond Fund; Retirement Income Fund, 2010 Retirement Fund, 2015 Retirement Fund, 2020 Retirement Fund, 2025 Retirement Fund, 2030 Retirement Fund, 2035 Retirement Fund, 2040 Retirement Fund, 2045 Retirement Fund and 2050 Retirement Fund (collectively, “Retirement Funds”); a Conservative Allocation Fund, a Moderate Allocation Fund and an Aggressive Allocation Fund (collectively, “Allocation Funds”). The International Fund and the Retirement Funds (other than the 2050 Retirement Fund) commenced operations on November 5, 2007. The 2050 Retirement Fund commenced operations on October 1, 2012.
Investment Company shares are issued to Mutual of America Life and, on a limited basis, to Wilton Reassurance Life Company of New York (formerly The American Life Insurance Company of New York), for allocation to their Separate Accounts as a funding medium for variable accumulation annuity contracts and variable life insurance policies. In addition, shares of selected equity and fixed income funds of the Investment Company are directly issued to one or more of the Investment Company’s Retirement Funds and Allocation Funds.
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and related disclosures. Changes in the economic environment, financial markets and any other parameters used in determining these estimates could cause actual results to differ.
The following is a summary of the significant accounting policies consistently followed by the Investment Company, which are in conformity with GAAP:
Fair Value — The Investment Company values its investments at fair value. Fair value is an estimate of the price the Fund would receive upon selling a security in an orderly arms-length transaction. Investments are categorized based on a three-level valuation hierarchy for measurement and disclosure of fair value. The valuation hierarchy is based upon the transparency of inputs used to measure fair value. These inputs are summarized in the three broad levels listed below:
• | Level 1 — quoted prices in active markets for identical securities. |
• | Level 2 — other significant observable inputs (including yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds, trading characteristics, etc.). |
• | Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
As of June 30, 2014 management determined that the fair value inputs for all equity securities, including shares of registered investment companies, were considered Level 1, with the exception of non-registered securities under Rule 144A of the Securities Act of 1933 which were considered Level 2. In addition, certain Rule 144A securities not actively traded are considered Level 3; however, there were no such securities as of June 30, 2014. Fair value inputs for all debt securities were considered Level 2. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between levels are reflected based on the fair value at the beginning of a reporting period.
84
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
The following is a summary of the inputs used to value the Funds’ investments and other financial instruments as of June 30, 2014:
Fund | Level 1 — Quoted Prices | Level 2 — Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||
Investments at Fair Value: | ||||||||||||||||
(See Summary Portfolios or Portfolios of Investments for More Details) |
| |||||||||||||||
Equity Index Fund | ||||||||||||||||
Common Stock | $ | 1,549,147,984 | — | — | $ | 1,549,147,984 | ||||||||||
Short-Term Debt Securities | — | $ | 40,949,216 | — | $ | 40,949,216 | ||||||||||
Temporary Cash Investments | — | $ | 375,600 | — | $ | 375,600 | ||||||||||
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| |||||||||
$ | 1,549,147,984 | $ | 41,324,816 | — | $ | 1,590,472,800 | ||||||||||
All America Fund | ||||||||||||||||
Common Stock-Indexed | $ | 186,809,131 | — | — | $ | 186,809,131 | ||||||||||
Common Stock-Active | $ | 128,228,315 | — | — | $ | 128,228,315 | ||||||||||
Convertible Preferred Stock-Active | $ | 143,755 | — | — | $ | 143,755 | ||||||||||
Short-Term Debt Securities-Indexed | — | $ | 1,199,997 | — | $ | 1,199,997 | ||||||||||
Short-Term Debt Securities-Active | — | $ | 3,199,575 | — | $ | 3,199,575 | ||||||||||
Temporary Cash Investments | — | $ | 1,215,000 | — | $ | 1,215,000 | ||||||||||
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$ | 315,181,201 | $ | 5,614,572 | — | $ | 320,795,773 | ||||||||||
Small Cap Value Fund | ||||||||||||||||
Common Stock | $ | 361,735,627 | — | — | $ | 361,735,627 | ||||||||||
Convertible Preferred Stock | $ | 1,100,139 | — | — | $ | 1,100,139 | ||||||||||
Short-Term Debt Securities | — | $ | 21,499,872 | — | $ | 21,499,872 | ||||||||||
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| |||||||||
$ | 362,835,766 | $ | 21,499,872 | — | $ | 384,335,638 | ||||||||||
Small Cap Growth Fund | ||||||||||||||||
Common Stock | $ | 379,406,731 | — | — | $ | 379,406,731 | ||||||||||
Short-Term Debt Securities | — | $ | 22,199,485 | — | $ | 22,199,485 | ||||||||||
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$ | 379,406,731 | $ | 22,199,485 | — | $ | 401,606,216 | ||||||||||
Mid Cap Value Fund | ||||||||||||||||
Common Stock | $ | 84,679,543 | — | — | $ | 84,679,543 | ||||||||||
Short-Term Debt Securities | — | $ | 1,399,777 | — | $ | 1,399,777 | ||||||||||
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$ | 84,679,543 | $ | 1,399,777 | — | $ | 86,079,320 | ||||||||||
Mid-Cap Equity Index Fund | ||||||||||||||||
Common Stock | $ | 929,983,951 | — | — | $ | 929,983,951 | ||||||||||
Short-Term Debt Securities | — | $ | 20,899,882 | — | $ | 20,899,882 | ||||||||||
Temporary Cash Investments | — | $ | 300,400 | — | $ | 300,400 | ||||||||||
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| |||||||||
$ | 929,983,951 | $ | 21,200,282 | — | $ | 951,184,233 | ||||||||||
International Fund | ||||||||||||||||
Common Stock | $ | 263,068,272 | — | — | $ | 263,068,272 | ||||||||||
Short-Term Debt Securities | — | $ | 2,600,000 | — | $ | 2,600,000 | ||||||||||
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| |||||||||
$ | 263,068,272 | $ | 2,600,000 | — | $ | 265,668,272 | ||||||||||
Composite Fund | ||||||||||||||||
Common Stock | $ | 112,667,962 | — | — | $ | 112,667,962 | ||||||||||
U.S. Government Debt | — | $ | 14,488,771 | — | $ | 14,488,771 | ||||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | — | $ | 23,985,504 | — | $ | 23,985,504 | ||||||||||
U.S. Government Agency | — | $ | 437,942 | — | $ | 437,942 | ||||||||||
Long-Term Corporate Debt | — | $ | 33,484,927 | — | $ | 33,484,927 | ||||||||||
Short-Term Debt Securities | — | $ | 3,699,792 | — | $ | 3,699,792 | ||||||||||
Temporary Cash Investments | — | $ | 898,100 | — | $ | 898,100 | ||||||||||
|
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|
|
|
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|
| |||||||||
$ | 112,667,962 | $ | 76,995,036 | — | $ | 189,662,998 |
85
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
Fund | Level 1 — Quoted Prices | Level 2 — Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||
Retirement Income Fund | ||||||||||||||||
Common Stock | $ | 44,080,559 | — | — | $ | 44,080,559 | ||||||||||
2010 Retirement Fund | ||||||||||||||||
Common Stock | $ | 25,008,239 | — | — | $ | 25,008,239 | ||||||||||
2015 Retirement Fund | ||||||||||||||||
Common Stock | $ | 142,360,488 | — | — | $ | 142,360,488 | ||||||||||
2020 Retirement Fund | ||||||||||||||||
Common Stock | $ | 278,589,082 | — | — | $ | 278,589,082 | ||||||||||
2025 Retirement Fund | ||||||||||||||||
Common Stock | $ | 287,902,149 | — | — | $ | 287,902,149 | ||||||||||
2030 Retirement Fund | ||||||||||||||||
Common Stock | $ | 240,082,467 | — | — | $ | 240,082,467 | ||||||||||
2035 Retirement Fund | ||||||||||||||||
Common Stock | $ | 198,604,944 | — | — | $ | 198,604,944 | ||||||||||
2040 Retirement Fund | ||||||||||||||||
Common Stock | $ | 165,879,032 | — | — | $ | 165,879,032 | ||||||||||
2045 Retirement Fund | ||||||||||||||||
Common Stock | $ | 210,672,377 | — | — | $ | 210,672,377 | ||||||||||
2050 Retirement Fund | ||||||||||||||||
Common Stock | $ | 31,482,175 | — | — | $ | 31,482,175 | ||||||||||
Conservative Allocation Fund | ||||||||||||||||
Common Stock | $ | 106,930,979 | — | — | $ | 106,930,979 | ||||||||||
Moderate Allocation Fund | ||||||||||||||||
Common Stock | $ | 303,425,412 | — | — | $ | 303,425,412 | ||||||||||
Aggressive Allocation Fund | ||||||||||||||||
Common Stock | $ | 251,232,532 | — | — | $ | 251,232,532 | ||||||||||
Money Market Fund | ||||||||||||||||
U.S. Government Agency Short-Term Debt | — | $ | 9,699,314 | — | $ | 9,699,314 | ||||||||||
Commercial Paper | — | $ | 70,143,018 | — | $ | 70,143,018 | ||||||||||
Temporary Cash Investments | — | $ | 43,400 | — | $ | 43,400 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
— | $ | 79,885,732 | — | $ | 79,885,732 | |||||||||||
Mid-Term Bond Fund | ||||||||||||||||
U.S. Government Debt | — | $ | 140,192,029 | — | $ | 140,192,029 | ||||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | — | $ | 7,068 | — | $ | 7,068 | ||||||||||
U.S. Government Agency | — | $ | 24,146,543 | — | $ | 24,146,543 | ||||||||||
Long-Term Corporate Debt | — | $ | 248,953,458 | — | $ | 248,953,458 | ||||||||||
Temporary Cash Investments | — | $ | 11,100 | — | $ | 11,100 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
— | $ | 413,310,198 | — | $ | 413,310,198 | |||||||||||
Bond Fund | ||||||||||||||||
U.S. Government Debt | — | $ | 87,027,631 | — | $ | 87,027,631 | ||||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | — | $ | 237,079,390 | — | $ | 237,079,390 | ||||||||||
U.S. Government Agency | — | $ | 26,971,799 | — | $ | 26,971,799 | ||||||||||
Long-Term Corporate Debt | — | $ | 525,009,975 | — | $ | 525,009,975 | ||||||||||
Sovereign Debt | — | $ | 4,077,871 | — | $ | 4,077,871 | ||||||||||
Short-Term Debt Securities | — | $ | 16,299,711 | — | $ | 16,299,711 | ||||||||||
Temporary Cash Investments | — | $ | 350,700 | — | $ | 350,700 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
— | $ | 896,817,077 | — | $ | 896,817,077 |
86
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
Fund | Level 1 — Quoted Prices | Level 2 — Significant Observable Inputs | Level 3 — Significant Unobservable Inputs | Total | ||||||||||||
Other Financial Instruments:* | ||||||||||||||||
Equity Index Fund | $ | 570,644 | — | — | $ | 570,644 | ||||||||||
All America Fund | $ | 14,225 | — | — | $ | 14,225 | ||||||||||
Mid-Cap Equity Index Fund | $ | 487,430 | — | — | $ | 487,430 |
* | Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, which are valued at the unrealized appreciation/depreciation on the instrument. |
During the six months ended June 30, 2014, there were no transfers of securities between Level 1, Level 2, or Level 3.
Security Valuation — Investment securities are carried at fair value as follows:
Exchange-traded equity securities are valued at the last reported sales price on the principal exchange on which the security is traded. If there is no trading volume for a particular valuation day, the last bid price is used. For equity securities traded in the over-the-counter market, the security is valued at the last sale price, or if no sale, at the latest bid price available.
Short-term debt securities with a maturity of 60 days or less are valued at amortized cost, which approximates fair value for such securities.
Debt securities, including short-term debt securities maturing in excess of 60 days, are valued on the basis of prices obtained from an independent pricing source. The pricing source may utilize various pricing methodologies that incorporate both models (which consider factors such as yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds and trading characteristics) and dealer-supplied valuations to derive a valuation.
In the rare instance when a price is not available from an independent pricing source or when prices may not reflect fair value, such as when the price provided by the pricing source is not based on a recent trade, a calculated fair value is used, as determined in good faith by the Adviser and reviewed by a Valuation Committee, in accordance with procedures adopted by the Board of Directors of the Investment Company.
The Advisor uses a market approach to calculate fair value for equity securities which are categorized as Level 3. The Adviser’s valuation is primarily based on information regarding the specific equity issuer, such as the last trade price, financial statements, the relationship of per-share book value to the last trade price, operating information and any corporate actions, such as dividends or returns of capital, that may have occurred since the last trade. The Adviser also considers industry-specific conditions and overall market conditions, to determine whether the last trade price reflects fair value or needs to be adjusted. Generally, absent any significant contrary indications, the last trade price will be used as the calculated fair value.
The Retirement Funds and the Allocation Funds value their investments in the underlying Funds of the Investment Company at their respective net asset values.
Investment Transactions — Investment transactions are accounted for as of the trade date. Realized gains and losses on the sale of short and long-term debt securities are computed on the basis of amortized cost at the time of sale. Realized gains and losses on the sale of equity securities are based on the identified cost basis of the security, determined on the first-in, first-out (“FIFO”) basis.
Futures Contracts — The Equity Index Fund, Mid-Cap Equity Index Fund and a portion of the All America Fund each maintain indexed asset portfolios which are subject to equity price risk. In order to remain more fully invested in the equity markets while minimizing transaction costs, the funds purchase stock index futures contracts. An initial cash
87
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
margin deposit (represented by cash or Treasury bills) is made upon entering into a futures contract and serves as collateral for the contract. This initial margin, maintained in a segregated account, is equal to approximately 5%-6% of the contract amount, and does not involve the borrowing of funds to finance the transaction. During the period the futures contract is outstanding, changes in the value of the contract are recognized as unrealized appreciation or depreciation by “marking-to-market” on a daily basis to reflect the market value of the contract at the end of each trading day. The accumulated unrealized appreciation or depreciation on the contract is included in Net Unrealized Appreciation (Depreciation) of Investments and Futures Contracts in the Components of Net Assets section of the Statements of Assets and Liabilities. Futures contracts are valued at the settlement price established each day by the exchange on which traded. Depending upon whether unrealized appreciation or depreciation are incurred, variation margin payments are received or made daily. The net change in unrealized appreciation or depreciation of futures contracts is recorded in the Statements of Operations. When the contract is closed, a realized gain or loss from futures transactions is recorded in the Statements of Operations, equal to the net variation margin received or paid over the period the contract was outstanding.
The “Underlying Face Amount at Value” (appearing in the “Footnotes to the Summary Portfolio of Investments in Securities”) representing the aggregate of outstanding contractual amounts under futures contracts reflects the extent of a Fund’s exposure to off-balance sheet risk. The use of futures transactions involves the risk of imperfect correlation in the price movements of the contract and the underlying securities. With futures contracts, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
During the six months ended June 30, 2014, the Equity Index Fund, Mid-Cap Equity Index Fund and the All America Fund purchased futures contracts with total principal amounts of $217,810,643, $101,619,014 and $17,382,675, respectively.
Retirement Funds — Each of the Retirement Funds invests in equity (stock) funds and fixed income (bond) funds and targets different percentages to these asset classes. The targets reflect varying emphases on achieving capital appreciation and gains versus preserving capital and producing income, depending on the specific Fund’s time horizon.
The Retirement Funds target their investments in the following underlying funds of the Investment Company in accordance with the percentage allocations noted:
Equity Index Fund | Mid-Cap Equity Index Fund | Small Cap Growth Fund | Small Cap Value Fund | International Fund | Bond Fund | Mid-Term Bond Fund | Money Market Fund | |||||||||||||||||||||||||
Retirement Income Fund | 20% | 5% | — | — | — | 30% | 40% | 5% | ||||||||||||||||||||||||
2010 Retirement Fund | 25% | 9% | — | — | 3% | 25% | 33% | 5% | ||||||||||||||||||||||||
2015 Retirement Fund | 28% | 11% | 1% | 1% | 6% | 25% | 28% | — | ||||||||||||||||||||||||
2020 Retirement Fund | 33% | 11% | 2% | 2% | 9% | 25% | 18% | — | ||||||||||||||||||||||||
2025 Retirement Fund | 37% | 16% | 3% | 3% | 10% | 23% | 8% | — | ||||||||||||||||||||||||
2030 Retirement Fund | 40% | 17% | 5% | 5% | 10% | 23% | — | — | ||||||||||||||||||||||||
2035 Retirement Fund | 40% | 20% | 6% | 6% | 12% | 16% | — | — | ||||||||||||||||||||||||
2040 Retirement Fund | 35% | 23% | 8% | 8% | 14% | 12% | — | — | ||||||||||||||||||||||||
2045 Retirement Fund | 35% | 21% | 9% | 9% | 16% | 10% | — | — | ||||||||||||||||||||||||
2050 Retirement Fund | 35% | 20% | 10% | 10% | 17% | 8% | — | — |
Generally, rebalancing of the Retirement Funds’ holdings is performed on a quarterly or other periodic basis and the mix of underlying Funds is reviewed annually.
88
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
Allocation Funds — The Allocation Funds target their investments in the following underlying Funds of the Investment Company in accordance with the percentage allocations noted:
Equity Index Fund | Mid-Cap Equity Index Fund | Small Cap Growth Fund | Small Cap Value Fund | International Fund | Bond Fund | Mid-Term Bond Fund | ||||||||||||||||||||||
Conservative Allocation | 25% | 5% | — | — | 5% | 30% | 35% | |||||||||||||||||||||
Moderate Allocation | 35% | 15% | — | — | 10% | 25% | 15% | |||||||||||||||||||||
Aggressive Allocation | 35% | 20% | 5% | 5% | 15% | 20% | — |
Generally, rebalancing of the Allocation Funds’ holdings is performed on a periodic basis.
Change in Target Investments — During the year, the Retirement Funds listed below had changes to their target investments. Additionally, each of the Allocation Funds had added the International Fund as an equity fund investment during the period. The Conservative Allocation Fund had also added the Mid-Cap Equity Index Fund as an equity fund investment during the period. Overall increases (decreases) to the target percentages were as follows:
Equity Index Fund | Mid-Cap Equity Index Fund | Small Cap Growth Fund | Small Cap Value Fund | International Fund | Bond Fund | Mid-Term Bond Fund | Money Market Fund | |||||||||||||||||||||||||
2010 Retirement Fund | — | (2% | ) | — | — | — | — | 2% | — | |||||||||||||||||||||||
2015 Retirement Fund | — | — | (1% | ) | (1% | ) | — | — | 2% | — | ||||||||||||||||||||||
2020 Retirement Fund | — | — | (1% | ) | (1% | ) | — | — | 2% | — | ||||||||||||||||||||||
2025 Retirement Fund | — | 1% | (1% | ) | (1% | ) | 1% | — | — | — | ||||||||||||||||||||||
Conservative Allocation | — | 5% | — | — | 5% | — | (10% | ) | — | |||||||||||||||||||||||
Moderate Allocation | — | — | — | — | 10% | (5% | ) | (5% | ) | — | ||||||||||||||||||||||
Aggressive Allocation | (10% | ) | — | — | — | 15% | (5% | ) | — | — |
Investment Income — Interest income, accretion of discount and amortization of premium are recorded daily on an accrual basis using the effective interest method. A debt obligation may cease accrual of income and result in a reduction to interest income when the collection of all or a portion of current and past due interest is in doubt. Dividend income is recorded on the ex-dividend date. Foreign source tax withheld from dividends is recorded as a reduction from dividend income. Should reclamation efforts succeed, such amounts are recorded as income upon collection.
Distributions to Shareholders (“Dividends”) — Distributions to shareholders are recorded on the ex-dividend date and are made at least annually. It is the Investment Company’s policy to make distributions of its net investment income and net realized gains, if any, in accordance with Federal income tax regulations, which may differ from U.S. generally accepted accounting principles. Accordingly, periodic reclassifications (which do not impact the funds’ net asset values) are made within the funds’ capital accounts to reflect income and gains available for distribution under Federal income tax regulations.
Federal Income Taxes — Each Fund in the Investment Company intends to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable income to shareholders. Therefore, no Federal income or excise tax provision is required.
GAAP requires the evaluation of tax positions taken in the course of preparing a fund’s tax return to determine whether it is “more-likely-than-not” that tax positions taken in the fund’s tax return will be ultimately sustained, and, if not, a tax liability and expense is recorded.
As of June 30, 2014, management has evaluated the tax positions taken on the Funds’ tax returns for all open tax years and has concluded that no tax provision is required in any of the Funds’ financial statements. Each Fund’s federal and state income, franchise and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.
89
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
1. | SIGNIFICANT ACCOUNTING POLICIESAND ORGANIZATION (CONTINUED) |
At June 30, 2014, the following Fund had a capital loss carry forward to offset any future net realized capital gains, to the extent provided by Federal income tax regulations, which if unused expire on the dates noted.
Expiring on December 31, | Composite Fund | |||
2014 | $ | 0 | ||
2015 | 0 | |||
2016 | 0 | |||
2017 | 695,089 | |||
2018 | 0 | |||
No Expiration | 0 | |||
|
| |||
Total | $ | 695,089 | ||
|
|
2. | EXPENSES |
The Investment Company has an Investment Advisory Agreement with Mutual of America Capital Management LLC (“the Adviser”), an indirect wholly-owned subsidiary of Mutual of America Life. For providing investment management services to each of the Funds of the Investment Company, the Adviser receives a fee, calculated as a daily charge of the value of the net assets of each fund, at the following annual rates:
Fund | Annual Investment Management Fee | |||
Retirement Funds | .05 | % | ||
Equity Index, Mid-Cap Equity Index, International Funds | .075 | % | ||
Money Market Fund | .15 | % | ||
Bond Fund | .39 | % | ||
All America, Composite, Mid-Term Bond Funds | .40 | % | ||
Mid Cap Value Fund | .55 | % | ||
Small Cap Value, Small Cap Growth Funds | .75 | % |
The Adviser does not assess a fee for investment management to the Allocation Funds. However, shareholders in the Allocation Funds (and the Retirement and International Funds) will indirectly bear their pro-rata share of the investment management fees incurred by the underlying Funds in which they invest.
3. | INVESTMENTS |
The cost of investment purchases and proceeds from sales of investments, excluding short-term securities and futures contracts, for the year ended June 30, 2014, were as follows:
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
Cost of investment purchases | $ | 59,052,910 | $ | 26,236,329 | $ | 53,799,543 | $ | 125,884,141 | $ | 27,518,233 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Proceeds from sales of investments | $ | 101,272,640 | $ | 37,563,425 | $ | 76,668,178 | $ | 168,917,375 | $ | 19,625,646 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | ||||||||||||||||
Cost of investment purchases | $ | 88,841,730 | $ | 88,019,486 | $ | 14,883,308 | $ | 6,097,115 | $ | 3,321,190 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Proceeds from sales of investments | $ | 85,946,891 | $ | 1,382,797 | $ | 17,979,524 | $ | 3,453,512 | $ | 3,545,646 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Cost of investment purchases | $ | 15,087,909 | $ | 35,626,129 | $ | 30,069,851 | $ | 25,073,164 | $ | 21,046,569 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Proceeds from sales of investments | $ | 17,742,978 | $ | 22,433,945 | $ | 14,239,936 | $ | 9,869,150 | $ | 5,879,372 | ||||||||||
|
|
|
|
|
|
|
|
|
|
90
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
3. | INVESTMENTS (CONTINUED) |
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | ||||||||||||||||
Cost of investment purchases | $ | 13,431,758 | $ | 17,477,433 | $ | 10,020,627 | $ | 19,838,635 | $ | 40,102,939 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Proceeds from sales of investments | $ | 4,497,552 | $ | 4,104,451 | $ | 396,571 | $ | 15,363,937 | $ | 34,399,196 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||
Cost of investment purchases | $ | 42,953,071 | — | $ | 98,647,913 | $ | 131,981,857 | |||||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Proceeds from sales of investments | $ | 42,143,265 | — | $ | 79,105,768 | $ | 70,715,770 | |||||||||||||
|
|
|
|
|
|
|
|
The cost of short-term security purchases for the Money Market Fund for the six months ended June 30, 2014, was $707,657,940; net proceeds from sales for the year were $711,799,646.
The components of net unrealized appreciation (depreciation) of investments for Federal income tax purposes and the cost of investments for Federal income tax purposes at June 30, 2014 for each of the funds were as follows:
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
Unrealized Appreciation | $ | 623,303,652 | $ | 98,463,934 | $ | 101,677,614 | $ | 95,882,666 | $ | 18,167,166 | ||||||||||
Unrealized Depreciation | (19,933,897 | ) | (10,454,582 | ) | (11,541,520 | ) | (9,269,800 | ) | (1,251,438 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 603,369,755 | $ | 88,009,352 | $ | 90,136,094 | $ | 86,612,866 | $ | 16,915,728 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Tax Cost of Investments | $ | 987,103,045 | $ | 232,786,421 | $ | 294,199,544 | $ | 314,993,350 | $ | 69,163,592 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | ||||||||||||||||
Unrealized Appreciation | $ | 304,820,043 | $ | 32,552,288 | $ | 45,021,797 | $ | 3,571,062 | $ | 3,087,930 | ||||||||||
Unrealized Depreciation | (13,606,379 | ) | (1,738,176 | ) | (1,771,542 | ) | (93,544 | ) | (13,314 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 291,213,664 | $ | 30,814,112 | $ | 43,250,255 | $ | 3,477,518 | $ | 3,074,616 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Tax Cost of Investments | $ | 659,970,569 | $ | 234,854,160 | $ | 146,412,743 | $ | 40,603,041 | $ | 21,933,623 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Unrealized Appreciation | $ | 22,453,497 | $ | 48,203,534 | $ | 60,464,977 | $ | 55,722,215 | $ | 49,194,797 | ||||||||||
Unrealized Depreciation | (322,117 | ) | (954,615 | ) | (944,624 | ) | (765,249 | ) | (641,222 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 22,131,380 | $ | 47,248,919 | $ | 59,520,353 | $ | 54,956,966 | $ | 48,553,575 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Tax Cost of Investments | $ | 120,229,108 | $ | 231,340,163 | $ | 228,381,796 | $ | 185,125,501 | $ | 150,051,369 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | ||||||||||||||||
Unrealized Appreciation | $ | 44,386,277 | $ | 57,283,121 | $ | 3,707,947 | $ | 10,747,128 | $ | 63,764,769 | ||||||||||
Unrealized Depreciation | (351,119 | ) | (498,934 | ) | (896 | ) | (56,210 | ) | (6,418,047 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 44,035,158 | $ | 56,784,187 | $ | 3,707,051 | $ | 10,690,918 | $ | 57,346,722 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Tax Cost of Investments | $ | 121,843,874 | $ | 153,888,190 | $ | 27,775,124 | $ | 96,240,061 | $ | 246,078,690 | ||||||||||
|
|
|
|
|
|
|
|
|
|
91
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
3. | INVESTMENTS (CONTINUED) |
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||
Unrealized Appreciation | $ | 70,210,092 | $ | 5 | $ | 13,191,053 | $ | 34,445,147 | ||||||||||
Unrealized Depreciation | (4,493,312 | ) | (387 | ) | (814,841 | ) | (4,476,668 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 65,716,780 | $ | (382 | ) | $ | 12,376,212 | $ | 29,968,479 | |||||||||
|
|
|
|
|
|
|
| |||||||||||
Tax Cost of Investments | $ | 185,515,752 | $ | 79,886,114 | $ | 400,933,986 | $ | 866,848,598 | ||||||||||
|
|
|
|
|
|
|
|
Differences between amounts reflected in the Statements of Assets and Liabilities and those computed for Federal income tax purposes arise primarily from federal income tax treatment of wash sales, REITs, partnerships, corporate actions and futures contracts.
Investments in affiliated investment companies during the six months ended June 30, 2014 were as follows:
Affiliated Investment Company | Value as of December 31, 2013 | Purchases | Realized Gain (Loss) on Investment Securities | Change in Unrealized Appreciation (Depreciation) of Investment Securities | Sales | Value as of June 30, 2014 | ||||||||||||||||||
Retirement Income Fund | ||||||||||||||||||||||||
Bond Fund | $ | 11,060,123 | $ | 2,152,163 | $ | 14,688 | $ | 541,213 | $ | (529,808 | ) | $ | 13,238,379 | |||||||||||
Equity Index Fund | 9,472,682 | 881,926 | 621,544 | 66,870 | (1,772,387 | ) | 9,270,635 | |||||||||||||||||
Mid-Cap Equity Index Fund | 2,391,954 | 220,481 | 68,031 | 116,301 | (231,120 | ) | 2,565,647 | |||||||||||||||||
Mid-Term Bond Fund | 14,794,071 | 2,622,064 | 17,979 | 419,490 | (706,411 | ) | 17,147,193 | |||||||||||||||||
Money Market Fund | 1,853,175 | 220,481 | (992 | ) | (173 | ) | (213,786 | ) | 1,858,705 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 39,572,005 | $ | 6,097,115 | $ | 721,250 | $ | 1,143,701 | $ | (3,453,512 | ) | $ | 44,080,559 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2010 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 5,345,699 | $ | 947,789 | $ | 33,910 | $ | 230,096 | $ | (427,478 | ) | $ | 6,130,016 | |||||||||||
Equity Index Fund | 7,044,683 | �� | 371,364 | 569,578 | (87,022 | ) | (1,391,282 | ) | 6,507,321 | |||||||||||||||
International Fund | 786,432 | 44,563 | 7,253 | 25,077 | (52,706 | ) | 810,619 | |||||||||||||||||
Mid-Cap Equity Index Fund | 3,138,716 | 156,874 | 344,009 | (129,790 | ) | (1,043,630 | ) | 2,466,179 | ||||||||||||||||
Mid-Term Bond Fund | 6,652,736 | 1,726,328 | (140 | ) | 197,623 | (536,691 | ) | 8,039,856 | ||||||||||||||||
Money Market Fund | 1,074,490 | 74,272 | (533 | ) | (122 | ) | (93,859 | ) | 1,054,248 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 24,042,756 | $ | 3,321,190 | $ | 954,077 | $ | 235,862 | $ | (3,545,646 | ) | $ | 25,008,239 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2015 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 29,996,556 | $ | 4,595,064 | $ | 130,384 | $ | 1,341,154 | $ | (1,916,244 | ) | $ | 34,146,914 | |||||||||||
Equity Index Fund | 43,931,916 | 1,402,775 | 3,365,063 | (373,382 | ) | (7,767,486 | ) | 40,558,886 | ||||||||||||||||
International Fund | 8,773,231 | 300,595 | 191,073 | 161,554 | (916,329 | ) | 8,510,124 | |||||||||||||||||
Mid-Cap Equity Index Fund | 17,449,211 | 551,090 | 1,161,767 | 81,026 | (2,703,500 | ) | 16,539,594 | |||||||||||||||||
Mid-Term Bond Fund | 31,308,702 | 8,062,531 | 103,201 | 822,853 | (2,022,070 | ) | 38,275,217 | |||||||||||||||||
Small Cap Growth Fund | 3,363,187 | 87,927 | 546,493 | (542,439 | ) | (1,281,037 | ) | 2,174,131 | ||||||||||||||||
Small Cap Value Fund | 3,103,348 | 87,927 | 497,714 | (397,055 | ) | (1,136,312 | ) | 2,155,622 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 137,926,151 | $ | 15,087,909 | $ | 5,995,695 | $ | 1,093,711 | $ | (17,742,978 | ) | $ | 142,360,488 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2020 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 54,151,265 | $ | 11,574,214 | $ | 292,642 | $ | 2,459,737 | $ | (1,669,438 | ) | $ | 66,808,420 | |||||||||||
Equity Index Fund | 91,264,914 | 6,557,079 | 5,943,305 | 645,438 | (11,183,404 | ) | 93,227,332 | |||||||||||||||||
International Fund | 23,361,744 | 1,788,294 | 511,875 | 502,165 | (1,198,609 | ) | 24,965,469 | |||||||||||||||||
Mid-Cap Equity Index Fund | 30,696,081 | 2,185,693 | 1,560,979 | 766,125 | (2,874,942 | ) | 32,333,936 | |||||||||||||||||
Mid-Term Bond Fund | 34,761,499 | 12,471,067 | 110,295 | 959,424 | (1,141,475 | ) | 47,160,810 | |||||||||||||||||
Small Cap Growth Fund | 8,839,789 | 524,891 | 874,506 | (828,056 | ) | (2,334,651 | ) | 7,076,479 | ||||||||||||||||
Small Cap Value Fund | 8,217,735 | 524,891 | 799,399 | (493,963 | ) | (2,031,426 | ) | 7,016,636 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 251,293,027 | $ | 35,626,129 | $ | 10,093,001 | $ | 4,010,870 | $ | (22,433,945 | ) | $ | 278,589,082 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
92
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
3. | INVESTMENTS (CONTINUED) |
Affiliated Investment Company | Value as of December 31, 2013 | Purchases | Realized Gain (Loss) on Investment Securities | Change in Unrealized Appreciation (Depreciation) of Investment Securities | Sales | Value as of June 30, 2014 | ||||||||||||||||||
2025 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 49,846,172 | $ | 11,766,285 | $ | 155,624 | $ | 2,404,473 | $ | (983,039 | ) | $ | 63,189,515 | |||||||||||
Equity Index Fund | 101,899,038 | 7,438,478 | 4,382,819 | 3,069,590 | (7,629,151 | ) | 109,160,774 | |||||||||||||||||
International Fund | 23,311,469 | 3,257,396 | 128,450 | 905,231 | (396,819 | ) | 27,205,727 | |||||||||||||||||
Mid-Cap Equity Index Fund | 41,667,327 | 3,636,585 | 376,756 | 2,876,871 | (653,264 | ) | 47,904,275 | |||||||||||||||||
Mid-Term Bond Fund | 17,388,092 | 2,474,383 | 36,701 | 482,330 | (341,927 | ) | 20,039,579 | |||||||||||||||||
Small Cap Growth Fund | 11,720,380 | 748,362 | 969,878 | (888,054 | ) | (2,305,849 | ) | 10,244,717 | ||||||||||||||||
Small Cap Value Fund | 10,913,264 | 748,362 | 833,602 | (407,779 | ) | (1,929,887 | ) | 10,157,562 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 256,745,742 | $ | 30,069,851 | $ | 6,883,830 | $ | 8,442,662 | $ | (14,239,936 | ) | $ | 287,902,149 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2030 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 40,287,392 | $ | 11,005,145 | $ | 109,531 | $ | 1,967,854 | $ | (705,213 | ) | $ | 52,664,709 | |||||||||||
Equity Index Fund | 89,289,145 | 7,308,062 | 3,199,875 | 3,350,293 | (5,618,122 | ) | 97,529,253 | |||||||||||||||||
International Fund | 20,965,955 | 1,827,015 | 163,943 | 758,787 | (450,007 | ) | 23,265,693 | |||||||||||||||||
Mid-Cap Equity Index Fund | 38,280,701 | 3,105,926 | 1,212,164 | 1,746,374 | (2,018,489 | ) | 42,326,676 | |||||||||||||||||
Small Cap Growth Fund | 11,882,350 | 913,508 | 377,227 | (236,851 | ) | (736,613 | ) | 12,199,621 | ||||||||||||||||
Small Cap Value Fund | 11,055,127 | 913,508 | 165,391 | 303,195 | (340,706 | ) | 12,096,515 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 211,760,670 | $ | 25,073,164 | $ | 5,228,131 | $ | 7,889,652 | $ | (9,869,150 | ) | $ | 240,082,467 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2035 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 22,499,794 | $ | 6,344,384 | $ | 50,403 | $ | 1,122,549 | $ | (324,039 | ) | $ | 29,693,091 | |||||||||||
Equity Index Fund | 71,648,314 | 6,876,977 | 1,734,207 | 3,615,051 | (3,241,512 | ) | 80,633,037 | |||||||||||||||||
International Fund | 20,190,530 | 2,323,627 | 74,712 | 834,160 | (243,029 | ) | 23,180,000 | |||||||||||||||||
Mid-Cap Equity Index Fund | 36,139,476 | 3,438,488 | 870,951 | 1,967,657 | (1,422,385 | ) | 40,994,187 | |||||||||||||||||
Small Cap Growth Fund | 11,442,269 | 1,031,547 | 288,998 | (149,762 | ) | (509,541 | ) | 12,103,511 | ||||||||||||||||
Small Cap Value Fund | 10,645,824 | 1,031,546 | 75,385 | 387,229 | (138,866 | ) | 12,001,118 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 172,566,207 | $ | 21,046,569 | $ | 3,094,656 | $ | 7,776,884 | $ | (5,879,372 | ) | $ | 198,604,944 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2040 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 14,272,871 | $ | 3,387,202 | $ | 34,448 | $ | 696,958 | $ | (222,362 | ) | $ | 18,169,117 | |||||||||||
Equity Index Fund | 53,326,774 | 3,775,529 | 1,067,926 | 2,831,922 | (1,967,238 | ) | 59,034,913 | |||||||||||||||||
International Fund | 20,010,528 | 2,005,615 | 86,618 | 791,017 | (259,423 | ) | 22,634,355 | |||||||||||||||||
Mid-Cap Equity Index Fund | 35,365,556 | 2,481,061 | 781,280 | 1,942,763 | (1,350,445 | ) | 39,220,215 | |||||||||||||||||
Small Cap Growth Fund | 12,999,229 | 862,979 | 264,793 | (109,876 | ) | (549,842 | ) | 13,467,283 | ||||||||||||||||
Small Cap Value Fund | 12,071,390 | 919,372 | 84,946 | 425,683 | (148,242 | ) | 13,353,149 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 148,046,348 | $ | 13,431,758 | $ | 2,320,011 | $ | 6,578,467 | $ | (4,497,552 | ) | $ | 165,879,032 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2045 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 14,859,036 | $ | 3,377,083 | $ | 16,477 | $ | 749,611 | $ | (120,507 | ) | $ | 18,881,700 | |||||||||||
Equity Index Fund | 66,824,740 | 5,102,318 | 1,045,167 | 3,928,857 | (1,926,780 | ) | 74,974,302 | |||||||||||||||||
International Fund | 28,641,578 | 3,186,594 | 58,847 | 1,231,926 | (192,811 | ) | 32,926,134 | |||||||||||||||||
Mid-Cap Equity Index Fund | 40,465,694 | 3,061,391 | 593,328 | 2,575,211 | (1,125,430 | ) | 45,570,194 | |||||||||||||||||
Small Cap Growth Fund | 18,336,839 | 1,312,025 | 383,559 | (160,380 | ) | (630,466 | ) | 19,241,577 | ||||||||||||||||
Small Cap Value Fund | 17,011,607 | 1,438,022 | 60,033 | 677,265 | (108,457 | ) | 19,078,470 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total | $ | 186,139,494 | $ | 17,477,433 | $ | 2,157,411 | $ | 9,002,490 | $ | (4,104,451 | ) | $ | 210,672,377 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
2050 Retirement Fund | ||||||||||||||||||||||||
Bond Fund | $ | 1,435,319 | $ | 789,023 | $ | (553 | ) | $ | 84,494 | $ | (29,069 | ) | $ | 2,279,214 | ||||||||||
Equity Index Fund | 7,188,888 | 3,451,974 | 32,375 | 653,383 | (129,814 | ) | 11,196,806 | |||||||||||||||||
International Fund | 3,403,713 | 1,743,646 | 7,957 | 195,370 | (40,584 | ) | 5,310,102 | |||||||||||||||||
Mid-Cap Equity Index Fund | 4,099,458 | 1,972,556 | 41,892 | 370,145 | (149,358 | ) | 6,334,693 | |||||||||||||||||
Small Cap Growth Fund | 2,118,222 | 1,043,373 | 5,817 | 50,352 | (23,873 | ) | 3,193,891 | |||||||||||||||||
Small Cap Value Fund | 2,044,781 | 1,020,055 | 5,456 | 121,050 | (23,873 | ) | 3,167,469 | |||||||||||||||||
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|
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| |||||||||||||
Total | $ | 20,290,381 | $ | 10,020,627 | $ | 92,944 | $ | 1,474,794 | $ | (396,571 | ) | $ | 31,482,175 | |||||||||||
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93
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
3. | INVESTMENTS (CONTINUED) |
Affiliated Investment Company | Value as of December 31, 2013 | Purchases | Realized Gain (Loss) on Investment Securities | Change in Unrealized Appreciation (Depreciation) of Investment Securities | Sales | Value as of June 30, 2014 | ||||||||||||||||||
Conservative Allocation Fund | ||||||||||||||||||||||||
Bond Fund | $ | 27,314,101 | $ | 4,111,505 | $ | 107,710 | $ | 1,271,748 | $ | (984,238 | ) | $ | 31,820,826 | |||||||||||
Equity Index Fund | 29,386,718 | 1,938,872 | 2,508,294 | (603,959 | ) | (5,935,849 | ) | 27,294,076 | ||||||||||||||||
International Fund | — | 5,287,793 | 647 | 132,843 | (58,531 | ) | 5,362,752 | |||||||||||||||||
Mid-Cap Equity Index Fund | — | 5,287,793 | 1,277 | 306,883 | (58,531 | ) | 5,537,422 | |||||||||||||||||
Mid-Term Bond Fund | 40,891,298 | 3,212,672 | 426,139 | 712,582 | (8,326,788 | ) | 36,915,903 | |||||||||||||||||
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| |||||||||||||
Total | $ | 97,592,117 | $ | 19,838,635 | $ | 3,044,067 | $ | 1,820,097 | $ | (15,363,937 | ) | $ | 106,930,979 | |||||||||||
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| |||||||||||||
Moderate Allocation Fund | ||||||||||||||||||||||||
Bond Fund | $ | 73,457,620 | $ | 3,107,071 | $ | 662,894 | $ | 2,879,128 | $ | (5,538,320 | ) | $ | 74,568,393 | |||||||||||
Equity Index Fund | 110,115,462 | 3,767,113 | 6,240,012 | 1,108,049 | (13,753,365 | ) | 107,477,271 | |||||||||||||||||
International Fund | — | 29,583,524 | 1,740 | 755,539 | (176,189 | ) | 30,164,614 | |||||||||||||||||
Mid-Cap Equity Index Fund | 48,956,526 | 1,614,477 | 4,135,557 | (816,622 | ) | (7,163,133 | ) | 46,726,805 | ||||||||||||||||
Mid-Term Bond Fund | 48,867,565 | 2,030,754 | 783,465 | 574,734 | (7,768,189 | ) | 44,488,329 | |||||||||||||||||
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|
|
|
| |||||||||||||
Total | $ | 281,397,173 | $ | 40,102,939 | $ | 11,823,668 | $ | 4,500,828 | $ | (34,399,196 | ) | $ | 303,425,412 | |||||||||||
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| |||||||||||||
Aggressive Allocation Fund | ||||||||||||||||||||||||
Bond Fund | $ | 48,009,963 | $ | 1,570,559 | $ | 398,817 | $ | 1,915,645 | $ | (2,883,037 | ) | $ | 49,011,947 | |||||||||||
Equity Index Fund | 111,681,822 | 2,805,880 | 8,268,596 | (1,739,784 | ) | (32,711,974 | ) | 88,304,540 | ||||||||||||||||
International Fund | — | 36,565,205 | 3,237 | 930,827 | (324,571 | ) | 37,174,698 | |||||||||||||||||
Mid-Cap Equity Index Fund | 51,632,826 | 1,340,951 | 1,631,358 | 1,968,037 | (5,384,029 | ) | 51,189,143 | |||||||||||||||||
Small Cap Growth Fund | 12,738,539 | 335,238 | 97,711 | 43,960 | (324,717 | ) | 12,890,731 | |||||||||||||||||
Small Cap Value Fund | 12,361,009 | 335,238 | 151,380 | 328,783 | (514,937 | ) | 12,661,473 | |||||||||||||||||
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|
| |||||||||||||
Total | $ | 236,424,159 | $ | 42,953,071 | $ | 10,551,099 | $ | 3,447,468 | $ | (42,143,265 | ) | $ | 251,232,532 | |||||||||||
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4. | CAPITAL SHARE ACTIVITY |
The Investment Company has registered an indefinite number of its capital shares pursuant to Rule 24f-2 under the Investment Company Act of 1940. On February 25, 2014, the Board of Directors of the Investment Company increased the number of authorized shares from seven billion to seven and a half billion. Also on that date, the Board of Directors changed the number of authorized shares for the Funds as indicated by the following table. As a result of these actions, there remained 630,000,000 unallocated shares as of June 30, 2014.
Authorized No. of Shares | ||||||||||||
Previous Allocation | Allocation Increase/ (Decrease) | Total Shares Allocated | ||||||||||
Equity Index Fund | 700,000,000 | — | 700,000,000 | |||||||||
All America Fund | 200,000,000 | — | 200,000,000 | |||||||||
Small Cap Value Fund | 325,000,000 | — | 325,000,000 | |||||||||
Small Cap Growth Fund | 325,000,000 | 70,000,000 | 395,000,000 | |||||||||
Mid Cap Value Fund | 100,000,000 | — | 100,000,000 | |||||||||
Mid-Cap Equity Index Fund | 550,000,000 | 50,000,000 | 600,000,000 | |||||||||
International Fund | 300,000,000 | 40,000,000 | 340,000,000 | |||||||||
Composite Fund | 150,000,000 | — | 150,000,000 | |||||||||
Retirement Income Fund | 50,000,000 | — | 50,000,000 | |||||||||
2010 Retirement Fund | 50,000,000 | — | 50,000,000 | |||||||||
2015 Retirement Fund | 200,000,000 | — | 200,000,000 | |||||||||
2020 Retirement Fund | 325,000,000 | 25,000,000 | 350,000,000 | |||||||||
2025 Retirement Fund | 275,000,000 | 100,000,000 | 375,000,000 | |||||||||
2030 Retirement Fund | 250,000,000 | 40,000,000 | 290,000,000 |
94
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
4. | CAPITAL SHARE ACTIVITY (CONTINUED) |
Authorized No. of Shares | ||||||||||||
Previous Allocation | Allocation Increase/ (Decrease) | Total Shares Allocated | ||||||||||
2035 Retirement Fund | 225,000,000 | 20,000,000 | 245,000,000 | |||||||||
2040 Retirement Fund | 200,000,000 | — | 200,000,000 | |||||||||
2045 Retirement Fund | 225,000,000 | 25,000,000 | 250,000,000 | |||||||||
2050 Retirement Fund | 100,000,000 | — | 100,000,000 | |||||||||
Conservative Allocation Fund | 100,000,000 | 25,000,000 | 125,000,000 | |||||||||
Moderate Allocation Fund | 250,000,000 | — | 250,000,000 | |||||||||
Aggressive Allocation Fund | 200,000,000 | — | 200,000,000 | |||||||||
Money Market Fund | 125,000,000 | — | 125,000,000 | |||||||||
Mid-Term Bond Fund | 450,000,000 | 50,000,000 | 500,000,000 | |||||||||
Bond Fund | 750,000,000 | — | 750,000,000 | |||||||||
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| |||||||
Sub-Total | 6,425,000,000 | 445,000,000 | 6,870,000,000 | |||||||||
Shares to be allocated at the discretion of the Board of Directors | 575,000,000 | 55,000,000 | 630,000,000 | |||||||||
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|
| |||||||
Total | 7,000,000,000 | 500,000,000 | 7,500,000,000 | |||||||||
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5. | DISTRIBUTIONSTO SHAREHOLDERSAND INCOME TAX INFORMATION |
Distributions — On February 15, 2013, required distributions of net investment income and, as applicable, net realized gains relating to 2012 were declared and paid for the funds (other than the Money Market Fund).
On September 13, 2013 and September 16, 2013, required distributions of net investment income and, as applicable, net realized gains relating to 2012 were declared and paid for all applicable funds in accordance with Internal Revenue Section 855(a).
The Funds of Mutual of America Investment Corporation intend to declare and pay their respective tax year 2013 investment company taxable income and capital gains in 2014 in accordance with Internal Revenue Section 855(a).
Pursuant to shareholders’ instructions, substantially all dividend distributions throughout 2014 and 2013 were immediately reinvested into their respective funds. The tax character of the distributions paid during 2014 and 2013 was as follows:
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth | Mid Cap Value Fund | ||||||||||||||||
Ordinary Income (a) | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 21,417,456 | $ | 4,003,917 | $ | 5,227,376 | $ | 102,671 | $ | 653,251 | ||||||||||
Long-Term Capital Gains | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 8,138,566 | $ | 3,065,838 | $ | 0 | $ | 24,068,829 | $ | 1,089,797 | ||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Fund | 2010 Retirement Fund | ||||||||||||||||
Ordinary Income (a) | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 9,796,628 | $ | 2,689,340 | $ | 3,658,911 | $ | 627 | $ | 505 | ||||||||||
Long-Term Capital Gains | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 19,498,971 | $ | 0 | $ | 0 | $ | 546,754 | $ | 1,051,449 |
95
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
5. | DISTRIBUTIONSTO SHAREHOLDERSAND INCOME TAX INFORMATION (CONTINUED) |
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Ordinary Income (a) | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 12,035 | $ | 28,565 | $ | 36,299 | $ | 36,402 | $ | 33,799 | ||||||||||
Long-Term Capital Gains | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 4,958,097 | $ | 4,197,604 | $ | 4,026,971 | $ | 2,917,571 | $ | 2,217,204 | ||||||||||
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | ||||||||||||||||
Ordinary Income (a) | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 37,437 | $ | 53,020 | $ | 4,839 | $ | 36,913 | $ | 60,531 | ||||||||||
Long-Term Capital Gains | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
2013 | $ | 1,744,523 | $ | 1,990,117 | $ | 3,009 | $ | 1,124,868 | $ | 2,672,171 | ||||||||||
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||
Ordinary Income (a) | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
2013 | $ | 62,703 | $ | 0 | $ | 10,246,278 | $ | 23,755,259 | ||||||||||||
Long-Term Capital Gains | ||||||||||||||||||||
2014 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||
2013 | $ | 2,312,366 | $ | 0 | $ | 821,302 | $ | 1,270,568 |
Notes:
(a) | Includes distributions from Fund-level net short-term capital gains. |
Undistributed net income and gains (losses) — As of June 30, 2014, undistributed net income and undistributed accumulated gain (loss) for Federal income tax purposes were as follows:
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 46,296,011 | $ | 8,805,210 | $ | 9,320,117 | $ | 3,673,399 | $ | 2,273,281 | ||||||||||
Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $ | 59,086,348 | $ | 31,274,430 | $ | 52,514,126 | $ | 62,221,964 | $ | 8,867,247 | ||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | $ | 603,369,755 | $ | 88,009,352 | $ | 90,136,094 | $ | 86,612,866 | $ | 16,915,728 | ||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 24,027,621 | $ | 9,418,735 | $ | 5,561,027 | $ | 746,239 | $ | 478,710 | ||||||||||
Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $ | 65,576,719 | $ | 911,516 | $ | (695,089 | ) | $ | 1,579,046 | $ | 1,594,734 | |||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | $ | 291,213,664 | $ | 30,814,112 | $ | 43,250,255 | $ | 3,477,518 | $ | 3,074,616 |
96
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
5. | DISTRIBUTIONSTO SHAREHOLDERSAND INCOME TAX INFORMATION (CONTINUED) |
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 2,616,090 | $ | 3,853,531 | $ | 3,459,110 | $ | 2,762,712 | $ | 2,061,376 | ||||||||||
Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $ | 9,112,465 | $ | 13,087,965 | $ | 9,558,009 | $ | 7,637,771 | $ | 5,318,724 | ||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | $ | 22,131,380 | $ | 47,248,919 | $ | 59,520,353 | $ | 54,956,966 | $ | 48,553,575 | ||||||||||
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 1,709,321 | $ | 2,118,365 | $ | 55,752 | $ | 2,275,497 | $ | 5,454,410 | ||||||||||
Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $ | 4,355,993 | $ | 4,659,318 | $ | 153,582 | $ | 4,369,432 | $ | 14,759,180 | ||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | $ | 44,035,158 | $ | 56,784,187 | $ | 3,707,051 | $ | 10,690,918 | $ | 57,346,722 | ||||||||||
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||
Accumulated undistributed net investment income | $ | 3,823,217 | $ | 0 | $ | 16,420,635 | $ | 41,455,333 | ||||||||||||
Accumulated undistributed net realized gain/(loss) on investments and futures contracts | $ | 14,295,400 | $ | 0 | $ | 2,384,487 | $ | 918,083 | ||||||||||||
Net unrealized appreciation (depreciation) of investments and futures contracts | $ | 65,716,780 | $ | (382 | ) | $ | 12,376,212 | $ | 29,968,479 |
The difference between the components of distributable earnings for income tax purposes and the amounts reflected in the statements of assets and liabilities arise primarily from federal income tax treatment of wash sales, REITs, partnerships, corporate actions and futures contracts.
Reclassifications — The Funds make adjustments to the components of net assets for book to tax differences that are considered permanent in nature. For the six months ended June 30, 2014, the Funds reclassified amounts primarily relating to differences in the book to tax treatment of partnership investments, REITs, net operating losses and the character of distributions. Each Fund’s net assets are not affected by these reclassifications.
During the six months ended June 30, 2014, each Fund reclassified the following book to tax differences [increases (decreases)]:
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | (50,148 | ) | $ | (157,952 | ) | $ | (987,192 | ) | $ | (282,284 | ) | $ | 20,182 | ||||||
Accumulated undistributed net realized gains (loss) on investments and futures contracts | $ | 50,148 | $ | 157,952 | $ | 987,192 | $ | 282,284 | $ | (20,182 | ) | |||||||||
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|
|
|
|
|
|
|
|
| |||||||||||
Paid in capital | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
|
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|
|
|
|
|
|
|
| |||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 167,352 | $ | 0 | $ | (892 | ) | $ | 10,256 | $ | 6,034 | |||||||||
Accumulated undistributed net realized gains (loss) on investments and futures contracts | $ | (167,352 | ) | $ | 0 | $ | 892 | $ | 0 | $ | 0 | |||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Paid in capital | $ | 0 | $ | 0 | $ | 0 | $ | (10,256 | ) | $ | (6,034 | ) | ||||||||
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97
MUTUAL OF AMERICA INVESTMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
June 30, 2014
5. | DISTRIBUTIONSTO SHAREHOLDERSAND INCOME TAX INFORMATION (CONTINUED) |
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 34,371 | $ | 64,793 | $ | 66,645 | $ | 54,814 | $ | 45,144 | ||||||||||
Accumulated undistributed net realized gains (loss) on investments and futures contracts | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Paid in capital | $ | (34,371 | ) | $ | (64,793 | ) | $ | (66,645 | ) | $ | (54,814 | ) | $ | (45,144 | ) | |||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Allocation Fund | Moderate Allocation Fund | ||||||||||||||||
Accumulated undistributed net investment income | $ | 38,081 | $ | 48,294 | $ | 6,172 | $ | 0 | $ | 0 | ||||||||||
Accumulated undistributed net realized gains (loss) on investments and futures contracts | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Paid in capital | $ | (38,081 | ) | $ | (48,294 | ) | $ | (6,172 | ) | $ | 0 | $ | 0 | |||||||
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|
|
|
|
|
|
|
|
| |||||||||||
Aggressive Allocation Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||||||
Accumulated undistributed net investment income | $ | 0 | $ | 49,952 | $ | 0 | $ | 0 | ||||||||||||
Accumulated undistributed net realized gains (loss) on investments and futures contracts | $ | 0 | $ | (528 | ) | $ | 0 | $ | 0 | |||||||||||
|
|
|
|
|
|
|
| |||||||||||||
Paid in capital | $ | 0 | $ | (49,424 | ) | $ | 0 | $ | 0 | |||||||||||
|
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|
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|
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98
MUTUAL OF AMERICA INVESTMENT CORPORATION
Quarterly Portfolio Schedules
Included in this Semi-Annual Report are summary schedules of Mutual of America Investment Corporation’s (“Investment Company”) Fund portfolio holdings as of June 30, 2014. The Investment Company files complete schedules of Fund portfolio holdings with the Securities and Exchange Commission (“SEC”) for the first and third quarters of each fiscal year on Form N-Q and for the second and fourth quarters of each fiscal year on Form N-CSR. The Forms N-Q and N-CSR are available on the SEC’s website at http://www.sec.gov. Additionally, the Forms N-Q and N-CSR may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
Proxy Voting Policies and Procedures
A copy of the Investment Company’s proxy voting policies and procedures can be obtained free of charge by calling 1-800-468-3785. It is also available on the SEC’s website at http://www.sec.gov.
Information regarding how the Investment Company voted proxies relating to portfolio securities during the 12-month period ended June 30, 2014 is available without charge by calling 1-800-468-3785. It is also available on the SEC website.
Code of Ethics
The Investment Company has adopted a Code of Ethics that complies with Rule 17j-1 of the Investment Company Act of 1940 and with the requirements of the Sarbanes-Oxley Act of 2002. A copy of the Code of Ethics is available free of charge, upon request. To obtain a free copy of the Code of Ethics, please call (212) 224-1568 or write to:
Ms. Kathryn Lu
Chief Compliance Officer
Mutual of America Investment Corporation
320 Park Avenue
New York, NY 10022-6839
Renewal of Investment Advisory Agreements
At its meeting held on February 25, 2014, the Board of Directors of the Investment Company renewed for a one-year period the investment advisory agreement with Mutual of America Capital Management LLC (the “Adviser”). The Board determined that renewing the agreement with the Adviser was in the best interest of the Investment Company based on the following considerations which are further enumerated below. The Board concluded that Mutual of America Capital Management LLC has performed extensive services for the Investment Company and has demonstrated satisfactory performance, that its fee is reasonable in comparison to fees charged for similar services to similar funds by other advisers, that the method of calculating the fee is reasonable, that the Adviser has not made excessive profits from the contract and the fee levels reflect that the Funds are appropriately benefiting from economies of scale.
Nature, Extent and Quality of Services
The Board considered the depth of experience and organizational structure of the Adviser. At December 31, 2013, the Adviser had approximately $13 billion of assets under management. The individual portfolio managers that oversee the investment performance of each of the Investment Company’s Funds have extensive experience and knowledge of the specific markets in which they participate. The Adviser adheres to a strict best execution policy which requires it to select broker/dealers based on their ability to execute trades at a favorable and reasonable price. All else being equal, the Advisor will also consider any research that the broker/dealers may provide. The Adviser maintains a highly qualified staff of research analysts and quantitative analysts who assist in the implementation of the disciplined investment policies employed by the portfolio managers to enhance stock selection and manage risk in the portfolios. The Adviser’s quantitative analysts have developed proprietary models that result in daily risk and attribution reports as well as information on stock movements, to enable the portfolio managers to make fully informed decisions on stock selection and to constantly evaluate the structure of each portfolio. When purchasing research and other services, the
99
Adviser uses its own funds to purchase such services from recognized firms that are utilized by the research staff. The Adviser also receives research services from broker/dealers which are utilized to benefit the Funds. The Board was aware of the receipt of these research services when it considered renewing the advisory agreement with the Adviser. The Adviser, at no cost, provides services beyond those set forth in the advisory agreement, such as assistance in the preparation of marketing materials and attendance at client and prospect meetings.
Investment Performance
The Board considered the short- and long-term performance of the Funds. During 2013, the vast majority of the Funds demonstrated gross performance that was above their benchmarks, when considering minimal tracking error. Performance has continued to improve over the past number of years due to changes made in the Adviser’s investment process and personnel, including the creation of the quantitative research group mentioned above.
Cost and Profit
The Board compared the advisory fees charged to each Fund by the Adviser with fees of numerous similar funds. In the case of each Fund, the Adviser’s fee compared favorably with fees charged by other advisers. Finally, the Adviser has not shown excessively high profits from the fees it is paid by the Investment Company.
Economies of Scale
The Board concluded that the reasonableness of the Adviser’s fees, particularly when compared to fees of similar funds that, in most cases, are many times the asset size of the Funds of the Investment Company demonstrates the fact that the Funds are benefiting from economies of scale. The Adviser utilizes the resources at its disposal efficiently. Its fees reflect cost savings and expense discounts, if any, that it realizes from volume increases.
100
MUTUALOF AMERICA
LIFE INSURANCE COMPANY
320 PARK AVENUE
NEW YORK, NY 10022-6839
www.mutualofamerica.com
320 PARK AVENUE
NEW YORK NY 10022-6839
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M100-MOA |
ITEM 2. CODE OF ETHICS.
Item not applicable to semi-annual report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Item not applicable to semi-annual report.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Item not applicable to semi-annual report.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable.
ITEM 6. INVESTMENTS.
(a) Schedule I – Portfolios of Investments in Securities follows:
(b) Not applicable.
MUTUAL OF AMERICA INVESTMENT CORPORATION - EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (11.5%) | ||||||||
Amazon.com, Inc.* | 33,155 | 10,768,081 | ||||||
AutoNation, Inc.* | 5,628 | 335,879 | ||||||
AutoZone, Inc.* | 2,955 | 1,584,589 | ||||||
Bed Bath & Beyond, Inc.* | 18,148 | 1,041,332 | ||||||
Best Buy Co., Inc. | 24,511 | 760,086 | ||||||
BorgWarner, Inc. | 20,336 | 1,325,704 | ||||||
Cablevision Systems Corp. Cl A | 19,256 | 339,868 | ||||||
CarMax, Inc.* | 19,608 | 1,019,812 | ||||||
Carnival Corp. | 39,008 | 1,468,651 | ||||||
CBS Corp. Cl B | 47,012 | 2,921,326 | ||||||
Chipotle Mexican Grill, Inc.* | 2,765 | 1,638,290 | ||||||
Coach, Inc. | 24,388 | 833,826 | ||||||
Comcast Corp. Cl A | 231,254 | 12,413,715 | ||||||
D.R. Horton, Inc. | 25,462 | 625,856 | ||||||
Darden Restaurants, Inc. | 11,738 | 543,117 | ||||||
Delphi Automotive PLC | 24,581 | 1,689,698 | ||||||
DIRECTV* | 41,678 | 3,543,047 | ||||||
Discovery Communications, Inc. Cl A* | 19,396 | 1,440,735 | ||||||
Disney (Walt) Co. | 143,265 | 12,283,541 | ||||||
Dollar General Corp.* | 26,979 | 1,547,515 | ||||||
Dollar Tree, Inc.* | 18,397 | 1,001,901 | ||||||
Expedia, Inc. | 9,123 | 718,527 | ||||||
Family Dollar Stores, Inc. | 8,504 | 562,455 | ||||||
Ford Motor Co. | 351,733 | 6,063,877 | ||||||
Fossil Group, Inc.* | 4,237 | 442,851 | ||||||
GameStop Corp. Cl A | 10,193 | 412,511 | ||||||
Gannett Co., Inc. | 20,174 | 631,648 | ||||||
Gap, Inc. | 23,129 | 961,473 | ||||||
Garmin Ltd. | 10,917 | 664,845 | ||||||
General Motors Co. | 116,975 | 4,246,193 | ||||||
Genuine Parts Co. | 13,661 | 1,199,436 | ||||||
Goodyear Tire & Rubber Co. | 24,552 | 682,055 | ||||||
Graham Hldgs. Co. Cl B | 388 | 278,627 | ||||||
H&R Block, Inc. | 24,392 | 817,620 | ||||||
Harley-Davidson, Inc. | 19,423 | 1,356,697 | ||||||
Harman Int’l. Industries, Inc. | 6,057 | 650,704 | ||||||
Hasbro, Inc. | 10,276 | 545,142 | ||||||
Home Depot, Inc. | 121,678 | 9,851,051 | ||||||
Interpublic Group of Cos., Inc. | 37,684 | 735,215 | ||||||
Johnson Controls, Inc. | 59,077 | 2,949,715 | ||||||
Kohl’s Corp. | 17,334 | 913,155 | ||||||
L Brands, Inc. | 21,813 | 1,279,551 | ||||||
Leggett & Platt, Inc. | 12,334 | 422,810 | ||||||
Lennar Corp. Cl A | 15,638 | 656,483 | ||||||
Lowe’s Cos., Inc. | 88,712 | 4,257,289 | ||||||
Macy’s, Inc. | 32,060 | 1,860,121 | ||||||
Marriott International, Inc. Cl A | 19,531 | 1,251,937 | ||||||
Mattel, Inc. | 30,177 | 1,175,998 | ||||||
McDonald’s Corp. | 87,921 | 8,857,162 | ||||||
Michael Kors Hldgs. Ltd.* | 15,991 | 1,417,602 | ||||||
Mohawk Industries, Inc.* | 5,441 | 752,708 | ||||||
Netflix, Inc.* | 5,333 | 2,349,720 | ||||||
Newell Rubbermaid, Inc. | 24,613 | 762,757 |
News Corp. Cl A* | 44,294 | 794,634 | ||||||
NIKE, Inc. Cl B | 65,614 | 5,088,366 | ||||||
Nordstrom, Inc. | 12,505 | 849,465 | ||||||
O’Reilly Automotive, Inc.* | 9,435 | 1,420,911 | ||||||
Omnicom Group, Inc. | 22,988 | 1,637,205 | ||||||
PetSmart, Inc. | 8,825 | 527,735 | ||||||
Priceline Group Inc.* | 4,664 | 5,610,792 | ||||||
Pulte Homes, Inc. | 30,314 | 611,130 | ||||||
PVH Corp. | 7,318 | 853,279 | ||||||
Ralph Lauren Corp. | 5,209 | 837,034 | ||||||
Ross Stores, Inc. | 18,894 | 1,249,460 | ||||||
Scripps Networks Interactive, Inc. Cl A | 9,535 | 773,670 | ||||||
Staples, Inc. | 57,518 | 623,495 | ||||||
Starbucks Corp. | 66,962 | 5,181,520 | ||||||
Starwood Hotels & Resorts | 17,079 | 1,380,325 | ||||||
Target Corp. | 56,350 | 3,265,483 | ||||||
Tiffany & Co. | 9,871 | 989,568 | ||||||
Time Warner Cable, Inc. | 24,783 | 3,650,536 | ||||||
Time Warner, Inc. | 78,463 | 5,512,026 | ||||||
TJX Cos., Inc. | 62,294 | 3,310,926 | ||||||
Tractor Supply Co. | 12,320 | 744,128 | ||||||
TripAdvisor, Inc.* | 9,897 | 1,075,408 | ||||||
Twenty-First Century Fox, Inc. Cl A | 170,311 | 5,986,432 | ||||||
Under Armour, Inc. Cl A* | 14,407 | 857,072 | ||||||
Urban Outfitters, Inc.* | 9,069 | 307,076 | ||||||
V.F. Corp. | 30,622 | 1,929,186 | ||||||
Viacom, Inc. Cl B | 34,792 | 3,017,510 | ||||||
Whirlpool Corp. | 6,915 | 962,706 | ||||||
Wyndham Worldwide Corp. | 11,323 | 857,378 | ||||||
Wynn Resorts Ltd. | 7,206 | 1,495,677 | ||||||
Yum! Brands, Inc. | 39,261 | 3,187,993 | ||||||
|
| |||||||
183,442,630 | ||||||||
|
| |||||||
CONSUMER STAPLES (9.3%) | ||||||||
Altria Group, Inc. | 176,697 | 7,410,672 | ||||||
Archer-Daniels-Midland Co. | 58,215 | 2,567,864 | ||||||
Avon Products, Inc. | 38,645 | 564,603 | ||||||
Brown-Forman Corp. Cl B | 14,418 | 1,357,743 | ||||||
Campbell Soup Co. | 15,916 | 729,112 | ||||||
Clorox Co. | 11,438 | 1,045,433 | ||||||
Coca-Cola Co. | 336,220 | 14,242,279 | ||||||
Coca-Cola Enterprises, Inc. | 20,800 | 993,824 | ||||||
Colgate-Palmolive Co. | 77,353 | 5,273,928 | ||||||
ConAgra Foods, Inc. | 37,462 | 1,111,872 | ||||||
Constellation Brands, Inc. Cl A* | 15,012 | 1,323,008 | ||||||
Costco Wholesale Corp. | 38,987 | 4,489,743 | ||||||
CVS Caremark Corp. | 104,003 | 7,838,706 | ||||||
Dr. Pepper Snapple Group, Inc. | 17,461 | 1,022,865 | ||||||
Estee Lauder Cos., Inc. Cl A | 22,474 | 1,668,919 | ||||||
General Mills, Inc. | 54,659 | 2,871,784 | ||||||
Hershey Co. | 13,272 | 1,292,295 | ||||||
Hormel Foods Corp. | 11,976 | 591,016 | ||||||
J.M. Smucker Co. | 9,222 | 982,789 | ||||||
Kellogg Co. | 22,675 | 1,489,748 | ||||||
Keurig Green Mountain, Inc. | 11,290 | 1,406,847 | ||||||
Kimberly-Clark Corp. | 33,515 | 3,727,538 | ||||||
Kraft Foods Group, Inc. | 52,952 | 3,174,472 | ||||||
Kroger Co. | 45,324 | 2,240,365 | ||||||
Lorillard, Inc. | 32,247 | 1,966,100 | ||||||
McCormick & Co., Inc. | 11,609 | 831,088 | ||||||
Mead Johnson Nutrition Co. | 17,976 | 1,674,824 | ||||||
Molson Coors Brewing Co. Cl B | 14,133 | 1,048,103 | ||||||
Mondelez International, Inc. Cl A | 150,456 | 5,658,650 |
Monster Beverage Corp.* | 12,038 | 855,059 | ||||||
PepsiCo, Inc. | 134,839 | 12,046,516 | ||||||
Philip Morris Int’l., Inc. | 139,909 | 11,795,728 | ||||||
Proctor & Gamble Co. | 240,697 | 18,916,377 | ||||||
Reynolds American, Inc. | 27,677 | 1,670,307 | ||||||
Safeway, Inc. | 20,486 | 703,489 | ||||||
Sysco Corp. | 51,998 | 1,947,325 | ||||||
Tyson Foods, Inc. Cl A | 24,483 | 919,092 | ||||||
Wal-Mart Stores, Inc. | 143,371 | 10,762,861 | ||||||
Walgreen Co. | 78,108 | 5,790,146 | ||||||
Whole Foods Market, Inc. | 32,696 | 1,263,046 | ||||||
|
| |||||||
147,266,136 | ||||||||
|
| |||||||
ENERGY (10.6%) | ||||||||
Anadarko Petroleum Corp. | 44,924 | 4,917,830 | ||||||
Apache Corp. | 34,315 | 3,452,775 | ||||||
Baker Hughes, Inc. | 38,780 | 2,887,171 | ||||||
Cabot Oil & Gas Corp. | 37,118 | 1,267,209 | ||||||
Cameron International Corp.* | 18,162 | 1,229,749 | ||||||
Chesapeake Energy Corp. | 45,037 | 1,399,750 | ||||||
Chevron Corp. | 169,331 | 22,106,162 | ||||||
Cimarex Energy Co. | 7,742 | 1,110,667 | ||||||
ConocoPhillips | 109,204 | 9,362,059 | ||||||
CONSOL Energy, Inc. | 20,451 | 942,178 | ||||||
Denbury Resources, Inc. | 31,282 | 577,466 | ||||||
Devon Energy Corp. | 34,105 | 2,707,937 | ||||||
Diamond Offshore Drilling, Inc. | 6,099 | 302,693 | ||||||
Ensco PLC Cl A | 20,788 | 1,155,189 | ||||||
EOG Resources, Inc. | 48,611 | 5,680,681 | ||||||
EQT Corp. | 13,499 | 1,443,043 | ||||||
Exxon Mobil Corp. | 381,986 | 38,458,348 | ||||||
FMC Technologies, Inc.* | 20,919 | 1,277,523 | ||||||
Halliburton Co. | 75,120 | 5,334,271 | ||||||
Helmerich & Payne, Inc. | 9,619 | 1,116,862 | ||||||
Hess Corp. | 23,478 | 2,321,739 | ||||||
Kinder Morgan, Inc. | 59,431 | 2,154,968 | ||||||
Marathon Oil Corp. | 60,137 | 2,400,669 | ||||||
Marathon Petroleum Corp. | 25,678 | 2,004,681 | ||||||
Murphy Oil Corp. | 15,004 | 997,466 | ||||||
Nabors Industries Ltd. | 23,282 | 683,792 | ||||||
National Oilwell Varco, Inc. | 38,163 | 3,142,723 | ||||||
Newfield Exploration Co.* | 12,128 | 536,058 | ||||||
Noble Corp. PLC | 22,614 | 758,926 | ||||||
Noble Energy, Inc. | 31,955 | 2,475,234 | ||||||
Occidental Petroleum Corp. | 69,880 | 7,171,784 | ||||||
ONEOK, Inc. | 18,490 | 1,258,799 | ||||||
Peabody Energy Corp. | 24,134 | 394,591 | ||||||
Phillips 66 | 50,332 | 4,048,203 | ||||||
Pioneer Natural Resources Co. | 12,725 | 2,924,332 | ||||||
QEP Resources, Inc. | 16,017 | 552,587 | ||||||
Range Resources Corp. | 15,003 | 1,304,511 | ||||||
Rowan Companies PLC Cl A | 11,062 | 353,210 | ||||||
Schlumberger Ltd. | 115,830 | 13,662,149 | ||||||
Seventy Seven Energy, Inc.* | 1 | 22 | ||||||
Southwestern Energy Co.* | 31,406 | 1,428,659 | ||||||
Spectra Energy Corp. | 59,658 | 2,534,272 | ||||||
Tesoro Corp. | 11,504 | 674,940 | ||||||
Transocean Ltd. | 30,273 | 1,363,193 | ||||||
Valero Energy Corp. | 47,467 | 2,378,097 | ||||||
Williams Cos., Inc. | 65,708 | 3,824,863 | ||||||
|
| |||||||
168,080,031 | ||||||||
|
| |||||||
FINANCIALS (15.7%) | ||||||||
ACE Ltd. | 30,039 | 3,115,044 |
Affiliated Managers Group, Inc.* | 5,172 | 1,062,329 | ||||||
Aflac, Inc. | 40,396 | 2,514,651 | ||||||
Allstate Corp. | 38,604 | 2,266,827 | ||||||
American Express Co. | 80,980 | 7,682,573 | ||||||
American Int’l. Group, Inc. | 128,680 | 7,023,354 | ||||||
American Tower Corp. | 35,201 | 3,167,386 | ||||||
Ameriprise Financial, Inc. | 16,889 | 2,026,680 | ||||||
Aon PLC | 26,374 | 2,376,034 | ||||||
Apartment Investment & Management Co. Cl A | 12,996 | 419,381 | ||||||
Assurant, Inc. | 6,372 | 417,685 | ||||||
AvalonBay Communities, Inc. | 10,838 | 1,541,055 | ||||||
Bank of America Corp. | 935,433 | 14,377,605 | ||||||
Bank of New York Mellon Corp. | 101,436 | 3,801,821 | ||||||
BB&T Corp. | 63,910 | 2,519,971 | ||||||
Berkshire Hathaway, Inc. Cl B* | 160,155 | 20,269,217 | ||||||
BlackRock, Inc. | 11,129 | 3,556,828 | ||||||
Boston Properties, Inc. | 13,614 | 1,608,903 | ||||||
Capital One Financial Corp. | 50,842 | 4,199,549 | ||||||
CBRE Group, Inc.* | 24,809 | 794,880 | ||||||
Charles Schwab Corp. | 104,163 | 2,805,110 | ||||||
Chubb Corp. | 21,748 | 2,004,513 | ||||||
Cincinnati Financial Corp. | 13,090 | 628,844 | ||||||
Citigroup, Inc. | 270,213 | 12,727,032 | ||||||
CME Group, Inc. | 28,076 | 1,991,992 | ||||||
Comerica, Inc. | 16,159 | 810,535 | ||||||
Crown Castle International Corp. | 29,691 | 2,204,854 | ||||||
Discover Financial Svcs. | 41,475 | 2,570,621 | ||||||
E*Trade Financial Corp.* | 25,650 | 545,319 | ||||||
Equity Residential | 29,876 | 1,882,188 | ||||||
Essex Property Trust, Inc. | 5,561 | 1,028,285 | ||||||
Fifth Third Bancorp | 75,653 | 1,615,192 | ||||||
Franklin Resources, Inc. | 35,734 | 2,066,855 | ||||||
General Growth Pptys., Inc. | 46,379 | 1,092,689 | ||||||
Genworth Financial, Inc. Cl A* | 44,145 | 768,123 | ||||||
Goldman Sachs Group, Inc. | 36,992 | 6,193,940 | ||||||
Hartford Financial Svcs. Group, Inc. | 40,001 | 1,432,436 | ||||||
HCP, Inc. | 40,757 | 1,686,525 | ||||||
Health Care REIT, Inc. | 27,171 | 1,702,807 | ||||||
Host Hotels & Resorts, Inc. | 67,330 | 1,481,933 | ||||||
Hudson City Bancorp, Inc. | 42,328 | 416,084 | ||||||
Huntington Bancshares, Inc. | 73,630 | 702,430 | ||||||
Intercontinental Exchange Inc | 10,238 | 1,933,958 | ||||||
Invesco Ltd. | 38,486 | 1,452,847 | ||||||
JPMorgan Chase & Co. | 336,651 | 19,397,831 | ||||||
KeyCorp | 78,569 | 1,125,894 | ||||||
Kimco Realty Corp. | 36,523 | 839,299 | ||||||
Legg Mason, Inc. | 9,143 | 469,127 | ||||||
Leucadia National Corp. | 28,195 | 739,273 | ||||||
Lincoln National Corp. | 23,460 | 1,206,782 | ||||||
Loews Corp. | 27,159 | 1,195,268 | ||||||
M&T Bank Corp. | 11,695 | 1,450,765 | ||||||
Marsh & McLennan Cos., Inc. | 48,887 | 2,533,324 | ||||||
McGraw-Hill Financial, Inc. | 24,213 | 2,010,405 | ||||||
MetLife, Inc. | 100,102 | 5,561,667 | ||||||
Moody’s Corp. | 16,727 | 1,466,289 | ||||||
Morgan Stanley | 124,497 | 4,024,988 | ||||||
Nasdaq OMX Group, Inc. | 10,476 | 404,583 | ||||||
Navient Corp. | 37,602 | 665,931 | ||||||
Northern Trust Corp. | 19,773 | 1,269,624 | ||||||
People’s United Financial, Inc. | 27,588 | 418,510 | ||||||
Plum Creek Timber Co., Inc. | 15,753 | 710,460 | ||||||
PNC Financial Svcs. Grp., Inc. | 47,510 | 4,230,766 |
Principal Financial Grp., Inc. | 24,344 | 1,228,885 | ||||||
Progressive Corp. | 48,446 | 1,228,591 | ||||||
ProLogis, Inc. | 44,448 | 1,826,368 | ||||||
Prudential Financial, Inc. | 41,095 | 3,648,003 | ||||||
Public Storage | 12,892 | 2,209,044 | ||||||
Regions Financial Corp. | 122,663 | 1,302,681 | ||||||
Simon Property Group, Inc. | 27,634 | 4,594,981 | ||||||
State Street Corp. | 38,318 | 2,577,269 | ||||||
SunTrust Banks, Inc. | 47,396 | 1,898,684 | ||||||
T. Rowe Price Group, Inc. | 23,371 | 1,972,746 | ||||||
The Macerich Co. | 12,515 | 835,376 | ||||||
Torchmark Corp. | 7,810 | 639,795 | ||||||
Travelers Cos., Inc. | 30,908 | 2,907,516 | ||||||
U.S. Bancorp | 161,458 | 6,994,361 | ||||||
Unum Group | 22,896 | 795,865 | ||||||
Ventas, Inc. | 26,182 | 1,678,266 | ||||||
Vornado Realty Trust | 15,504 | 1,654,742 | ||||||
Wells Fargo & Co. | 426,342 | 22,408,536 | ||||||
Weyerhaeuser Co. | 52,060 | 1,722,665 | ||||||
XL Group PLC | 24,149 | 790,397 | ||||||
Zions Bancorporation | 16,446 | 484,664 | ||||||
|
| |||||||
249,607,106 | ||||||||
|
| |||||||
HEALTH CARE (13.0%) | ||||||||
Abbott Laboratories | 133,598 | 5,464,158 | ||||||
AbbVie, Inc. | 141,412 | 7,981,293 | ||||||
Actavis PLC* | 15,517 | 3,461,067 | ||||||
Aetna, Inc. | 31,791 | 2,577,614 | ||||||
Agilent Technologies, Inc. | 29,643 | 1,702,694 | ||||||
Alexion Pharmaceuticals, Inc.* | 17,594 | 2,749,063 | ||||||
Allergan, Inc. | 26,467 | 4,478,746 | ||||||
AmerisourceBergen Corp. | 20,088 | 1,459,594 | ||||||
Amgen, Inc. | 67,337 | 7,970,681 | ||||||
Bard (C.R.), Inc. | 6,783 | 970,037 | ||||||
Baxter International, Inc. | 48,265 | 3,489,560 | ||||||
Becton, Dickinson & Co. | 17,185 | 2,032,986 | ||||||
Biogen Idec, Inc.* | 21,099 | 6,652,726 | ||||||
Boston Scientific Corp.* | 117,653 | 1,502,429 | ||||||
Bristol-Myers Squibb Co. | 147,407 | 7,150,714 | ||||||
Cardinal Health, Inc. | 30,261 | 2,074,694 | ||||||
CareFusion Corp.* | 18,440 | 817,814 | ||||||
Celgene Corp.* | 71,236 | 6,117,748 | ||||||
Cerner Corp.* | 26,268 | 1,354,903 | ||||||
CIGNA Corp. | 23,897 | 2,197,807 | ||||||
Covidien PLC | 40,106 | 3,616,759 | ||||||
DaVita HealthCare Partners, Inc.* | 15,815 | 1,143,741 | ||||||
DENTSPLY International, Inc. | 12,613 | 597,226 | ||||||
Edwards Lifesciences Corp.* | 9,383 | 805,437 | ||||||
Express Scripts Hldg. Co.* | 68,756 | 4,766,853 | ||||||
Forest Laboratories, Inc.* | 21,337 | 2,112,363 | ||||||
Gilead Sciences, Inc.* | 136,599 | 11,325,423 | ||||||
Hospira, Inc.* | 14,868 | 763,769 | ||||||
Humana, Inc. | 13,769 | 1,758,577 | ||||||
Intuitive Surgical, Inc.* | 3,416 | 1,406,709 | ||||||
Johnson & Johnson | 251,649 | 26,327,518 | ||||||
Laboratory Corp. of America Hldgs.* | 7,543 | 772,403 | ||||||
Lilly (Eli) & Co. | 87,626 | 5,447,708 | ||||||
McKesson Corp. | 20,509 | 3,818,981 | ||||||
Medtronic, Inc. | 88,862 | 5,665,841 | ||||||
Merck & Co., Inc. | 259,946 | 15,037,876 | ||||||
Mylan, Inc.* | 33,243 | 1,714,009 | ||||||
Patterson Cos., Inc. | 7,303 | 288,542 | ||||||
PerkinElmer, Inc. | 10,071 | 471,726 |
Perrigo Co. PLC | 11,901 | 1,734,690 | ||||||
Pfizer, Inc. | 567,389 | 16,840,106 | ||||||
Quest Diagnostics, Inc. | 12,851 | 754,225 | ||||||
Regeneron Pharmaceuticals, Inc.* | 7,089 | 2,002,430 | ||||||
St. Jude Medical, Inc. | 25,281 | 1,750,709 | ||||||
Stryker Corp. | 26,302 | 2,217,785 | ||||||
Tenet Healthcare Corp.* | 8,686 | 407,721 | ||||||
Thermo Fisher Scientific, Inc. | 35,486 | 4,187,348 | ||||||
UnitedHealth Group, Inc. | 87,159 | 7,125,248 | ||||||
Varian Medical Systems, Inc.* | 9,246 | 768,712 | ||||||
Vertex Pharmaceuticals, Inc.* | 21,015 | 1,989,700 | ||||||
Waters Corp.* | 7,542 | 787,686 | ||||||
WellPoint, Inc. | 24,877 | 2,677,014 | ||||||
Zimmer Hldgs., Inc. | 14,928 | 1,550,422 | ||||||
Zoetis, Inc. | 44,566 | 1,438,145 | ||||||
|
| |||||||
206,279,730 | ||||||||
|
| |||||||
INDUSTRIALS (10.2%) | ||||||||
3M Co. | 55,288 | 7,919,453 | ||||||
Allegion PLC | 7,986 | 452,646 | ||||||
AMETEK, Inc. | 21,819 | 1,140,697 | ||||||
Boeing Co. | 59,675 | 7,592,450 | ||||||
Caterpillar, Inc. | 55,525 | 6,033,902 | ||||||
Cintas Corp. | 8,980 | 570,589 | ||||||
CSX Corp. | 89,338 | 2,752,504 | ||||||
Cummins, Inc. | 15,211 | 2,346,905 | ||||||
Danaher Corp. | 53,512 | 4,213,000 | ||||||
Deere & Co. | 32,359 | 2,930,107 | ||||||
Delta Air Lines, Inc. | 75,423 | 2,920,379 | ||||||
Dover Corp. | 14,809 | 1,346,879 | ||||||
Dun & Bradstreet Corp. | 3,292 | 362,778 | ||||||
Eaton Corp. PLC | 42,402 | 3,272,586 | ||||||
Emerson Electric Co. | 62,420 | 4,142,191 | ||||||
Equifax, Inc. | 10,855 | 787,422 | ||||||
Expeditors Int’l. of Wash. | 17,557 | 775,317 | ||||||
Fastenal Co. | 24,286 | 1,201,914 | ||||||
FedEx Corp. | 24,709 | 3,740,448 | ||||||
Flowserve Corp. | 12,215 | 908,185 | ||||||
Fluor Corp. | 14,155 | 1,088,520 | ||||||
General Dynamics Corp. | 28,973 | 3,376,803 | ||||||
General Electric Co. | 891,974 | 23,441,077 | ||||||
Grainger (W.W.), Inc. | 5,417 | 1,377,381 | ||||||
Honeywell International, Inc. | 69,658 | 6,474,711 | ||||||
Illinois Tool Works, Inc. | 33,764 | 2,956,376 | ||||||
Ingersoll-Rand PLC | 22,327 | 1,395,661 | ||||||
Iron Mountain, Inc. | 15,197 | 538,734 | ||||||
Jacobs Engineering Group, Inc.* | 11,762 | 626,679 | ||||||
Joy Global, Inc. | 8,887 | 547,261 | ||||||
Kansas City Southern | 9,813 | 1,054,996 | ||||||
L-3 Communications Hldgs., Inc. | 7,671 | 926,273 | ||||||
Lockheed Martin Corp. | 23,713 | 3,811,390 | ||||||
Masco Corp. | 31,701 | 703,762 | ||||||
Nielsen N.V. | 26,963 | 1,305,279 | ||||||
Norfolk Southern Corp. | 27,543 | 2,837,755 | ||||||
Northrop Grumman Corp. | 19,047 | 2,278,593 | ||||||
PACCAR, Inc. | 31,551 | 1,982,349 | ||||||
Pall Corp. | 9,757 | 833,150 | ||||||
Parker Hannifin Corp. | 13,248 | 1,665,671 | ||||||
Pentair PLC | 17,318 | 1,248,974 | ||||||
Pitney Bowes, Inc. | 18,025 | 497,851 | ||||||
Precision Castparts Corp. | 12,876 | 3,249,902 | ||||||
Quanta Services, Inc.* | 19,379 | 670,126 | ||||||
Raytheon Co. | 27,828 | 2,567,133 |
Republic Services, Inc. | 23,773 | 902,661 | ||||||
Robert Half Int’l., Inc. | 12,230 | 583,860 | ||||||
Robinson (C.H.) Worldwide, Inc. | 13,202 | 842,156 | ||||||
Rockwell Automation, Inc. | 12,314 | 1,541,220 | ||||||
Rockwell Collins, Inc. | 12,052 | 941,743 | ||||||
Roper Industries, Inc. | 8,877 | 1,296,131 | ||||||
Ryder System, Inc. | 4,731 | 416,754 | ||||||
Snap-on, Inc. | 5,181 | 614,052 | ||||||
Southwest Airlines Co. | 61,539 | 1,652,938 | ||||||
Stanley Black & Decker, Inc. | 13,881 | 1,219,029 | ||||||
Stericycle, Inc.* | 7,533 | 892,058 | ||||||
Textron, Inc. | 24,829 | 950,702 | ||||||
The ADT Corp. | 15,500 | 541,570 | ||||||
Tyco International Ltd. | 41,031 | 1,871,014 | ||||||
Union Pacific Corp. | 80,574 | 8,037,257 | ||||||
United Parcel Service, Inc. Cl B | 62,697 | 6,436,474 | ||||||
United Technologies Corp. | 75,020 | 8,661,059 | ||||||
Waste Management, Inc. | 38,482 | 1,721,300 | ||||||
Xylem, Inc. | 16,348 | 638,880 | ||||||
|
| |||||||
162,627,617 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (18.3%) | ||||||||
Accenture Ltd. Cl A | 56,312 | 4,552,262 | ||||||
Adobe Systems, Inc.* | 41,175 | 2,979,423 | ||||||
Akamai Technologies, Inc.* | 15,834 | 966,824 | ||||||
Alliance Data Systems Corp.* | 4,821 | 1,355,906 | ||||||
Altera Corp. | 27,865 | 968,587 | ||||||
Amphenol Corp. Cl A | 13,977 | 1,346,544 | ||||||
Analog Devices, Inc. | 27,944 | 1,510,932 | ||||||
Apple, Inc. | 536,341 | 49,842,164 | ||||||
Applied Materials, Inc. | 108,288 | 2,441,894 | ||||||
Autodesk, Inc.* | 20,269 | 1,142,766 | ||||||
Automatic Data Processing, Inc. | 42,883 | 3,399,764 | ||||||
Avago Technologies Ltd. | 22,390 | 1,613,647 | ||||||
Broadcom Corp. Cl A | 49,435 | 1,835,027 | ||||||
CA, Inc. | 28,368 | 815,296 | ||||||
Cisco Systems, Inc. | 455,666 | 11,323,300 | ||||||
Citrix Systems, Inc.* | 14,576 | 911,729 | ||||||
Cognizant Technology Solutions* | 54,123 | 2,647,156 | ||||||
Computer Sciences Corp. | 12,886 | 814,395 | ||||||
Corning, Inc. | 116,389 | 2,554,739 | ||||||
eBay, Inc.* | 101,458 | 5,078,987 | ||||||
Electronic Arts, Inc.* | 27,979 | 1,003,607 | ||||||
EMC Corp. | 182,109 | 4,796,751 | ||||||
F5 Networks, Inc.* | 6,736 | 750,660 | ||||||
Facebook, Inc. Cl A* | 152,969 | 10,293,284 | ||||||
Fidelity Nat’l. Information Svcs., Inc. | 25,599 | 1,401,289 | ||||||
First Solar, Inc.* | 6,323 | 449,312 | ||||||
Fiserv, Inc.* | 22,168 | 1,337,174 | ||||||
FLIR Systems, Inc. | 12,597 | 437,494 | ||||||
Google, Inc. Cl A* | 25,199 | 14,733,099 | ||||||
Google, Inc. Cl C* | 25,199 | 14,496,481 | ||||||
Harris Corp. | 9,473 | 717,580 | ||||||
Hewlett-Packard Co. | 166,458 | 5,606,305 | ||||||
Int’l. Business Machines Corp. | 84,633 | 15,341,424 | ||||||
Intel Corp. | 442,796 | 13,682,396 | ||||||
Intuit, Inc. | 25,252 | 2,033,544 | ||||||
Jabil Circuit, Inc. | 16,454 | 343,889 | ||||||
Juniper Networks, Inc.* | 42,141 | 1,034,140 | ||||||
KLA-Tencor Corp. | 14,754 | 1,071,731 | ||||||
Lam Research Corp. | 14,421 | 974,571 | ||||||
Linear Technology Corp. | 21,042 | 990,447 | ||||||
MasterCard, Inc. Cl A | 89,379 | 6,566,675 |
Microchip Technology, Inc. | 17,816 | 869,599 | ||||||
Micron Technology, Inc.* | 95,211 | 3,137,202 | ||||||
Microsoft Corp. | 668,637 | 27,882,163 | ||||||
Motorola Solutions, Inc. | 20,124 | 1,339,655 | ||||||
NetApp, Inc. | 29,468 | 1,076,171 | ||||||
NVIDIA Corp. | 49,632 | 920,177 | ||||||
Oracle Corp. | 305,398 | 12,377,781 | ||||||
Paychex, Inc. | 28,795 | 1,196,720 | ||||||
QUALCOMM, Inc. | 150,138 | 11,890,930 | ||||||
Red Hat, Inc.* | 16,843 | 930,913 | ||||||
Salesforce.com, inc.* | 50,247 | 2,918,346 | ||||||
SanDisk Corp. | 20,121 | 2,101,236 | ||||||
Seagate Technology PLC | 29,047 | 1,650,451 | ||||||
Symantec Corp. | 61,527 | 1,408,968 | ||||||
TE Connectivity Ltd. | 36,356 | 2,248,255 | ||||||
Teradata Corp.* | 14,028 | 563,926 | ||||||
Texas Instruments, Inc. | 96,009 | 4,588,270 | ||||||
Total System Services, Inc. | 14,773 | 464,020 | ||||||
VeriSign, Inc.* | 10,991 | 536,471 | ||||||
Visa, Inc. Cl A | 44,715 | 9,421,898 | ||||||
Western Digital Corp. | 18,609 | 1,717,611 | ||||||
Western Union Co. | 47,937 | 831,228 | ||||||
Xerox Corp. | 97,169 | 1,208,782 | ||||||
Xilinx, Inc. | 23,910 | 1,131,182 | ||||||
Yahoo!, Inc.* | 83,288 | 2,925,907 | ||||||
|
| |||||||
291,501,057 | ||||||||
|
| |||||||
MATERIALS (3.4%) | ||||||||
Air Products & Chemicals, Inc. | 18,882 | 2,428,603 | ||||||
Airgas, Inc. | 5,948 | 647,797 | ||||||
Alcoa, Inc. | 104,275 | �� | 1,552,655 | |||||
Allegheny Technologies, Inc. | 9,658 | 435,576 | ||||||
Avery Dennison Corp. | 8,468 | 433,985 | ||||||
Ball Corp. | 12,401 | 777,295 | ||||||
Bemis Co., Inc. | 8,971 | 364,761 | ||||||
CF Industries Hldgs., Inc. | 4,632 | 1,114,135 | ||||||
Dow Chemical Co. | 107,101 | 5,511,417 | ||||||
Du Pont (E.I.) de Nemours & Co. | 81,687 | 5,345,597 | ||||||
Eastman Chemical Co. | 13,365 | 1,167,433 | ||||||
Ecolab, Inc. | 24,032 | 2,675,723 | ||||||
FMC Corp. | 11,845 | 843,246 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 92,395 | 3,372,418 | ||||||
Int’l. Flavors & Fragrances, Inc. | 7,231 | 754,049 | ||||||
International Paper Co. | 38,532 | 1,944,710 | ||||||
LyondellBasell Inds. N.V. Cl A | 37,053 | 3,618,225 | ||||||
MeadWestvaco Corp. | 14,931 | 660,846 | ||||||
Monsanto Co. | 46,626 | 5,816,127 | ||||||
Newmont Mining Corp. | 44,327 | 1,127,679 | ||||||
Nucor Corp. | 28,328 | 1,395,154 | ||||||
Owens-Illinois, Inc.* | 14,684 | 508,654 | ||||||
PPG Industries, Inc. | 12,299 | 2,584,635 | ||||||
Praxair, Inc. | 26,057 | 3,461,412 | ||||||
Sealed Air Corp. | 17,286 | 590,663 | ||||||
Sherwin-Williams Co. | 7,534 | 1,558,860 | ||||||
Sigma-Aldrich Corp. | 10,571 | 1,072,745 | ||||||
The Mosaic Co. | 28,774 | 1,422,874 | ||||||
United States Steel Corp. | 12,872 | 335,187 | ||||||
Vulcan Materials Co. | 11,635 | 741,731 | ||||||
|
| |||||||
54,264,192 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (2.3%) | ||||||||
AT&T, Inc. | 461,521 | 16,319,383 | ||||||
CenturyLink, Inc. | 50,947 | 1,844,281 | ||||||
Frontier Communications Corp. | 89,154 | 520,659 |
Verizon Communications, Inc. | 368,357 | 18,023,708 | ||||||
Windstream Hldgs., Inc. | 53,606 | 533,916 | ||||||
|
| |||||||
37,241,947 | ||||||||
|
| |||||||
UTILITIES (3.1%) | ||||||||
AES Corp. | 58,712 | 912,972 | ||||||
AGL Resources, Inc. | 10,609 | 583,813 | ||||||
Ameren Corp. | 21,583 | 882,313 | ||||||
American Electric Power Co., Inc. | 43,408 | 2,420,864 | ||||||
CenterPoint Energy, Inc. | 38,227 | 976,318 | ||||||
CMS Energy Corp. | 23,972 | 746,728 | ||||||
Consolidated Edison, Inc. | 26,054 | 1,504,358 | ||||||
Dominion Resources, Inc. | 51,734 | 3,700,016 | ||||||
DTE Energy Co. | 15,746 | 1,226,141 | ||||||
Duke Energy Corp. | 62,910 | 4,667,293 | ||||||
Edison International | 28,981 | 1,684,086 | ||||||
Entergy Corp. | 15,956 | 1,309,828 | ||||||
Exelon Corp. | 76,384 | 2,786,488 | ||||||
FirstEnergy Corp. | 37,329 | 1,296,063 | ||||||
Integrys Energy Group, Inc. | 7,113 | 505,948 | ||||||
NextEra Energy, Inc. | 38,793 | 3,975,507 | �� | |||||
NiSource, Inc. | 28,009 | 1,101,874 | ||||||
Northeast Utilities | 28,107 | 1,328,618 | ||||||
NRG Energy, Inc. | 29,997 | 1,115,888 | ||||||
Pepco Hldgs., Inc. | 22,329 | 613,601 | ||||||
PG&E Corp. | 41,332 | 1,984,763 | ||||||
Pinnacle West Capital Corp. | 9,817 | 567,815 | ||||||
PPL Corp. | 56,194 | 1,996,573 | ||||||
Public Svc. Enterprise Group, Inc. | 45,003 | 1,835,672 | ||||||
SCANA Corp. | 12,595 | 677,737 | ||||||
Sempra Energy | 20,280 | 2,123,519 | ||||||
Southern Co. | 79,238 | 3,595,820 | ||||||
TECO Energy, Inc. | 18,212 | 336,558 | ||||||
Wisconsin Energy Corp. | 20,061 | 941,262 | ||||||
Xcel Energy, Inc. | 44,651 | 1,439,102 | ||||||
|
| |||||||
48,837,538 | ||||||||
|
| |||||||
TOTAL INDEXED ASSETS - COMMON STOCKS | 1,549,147,984 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
U.S. GOVERNMENT (0.4%) | ||||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.03 | 07/10/14 | 3,000,000 | 2,999,979 | |||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.02 | 08/21/14 | 2,500,000 | 2,499,929 | |||||||||||
|
| |||||||||||||||
5,499,908 | ||||||||||||||||
|
| |||||||||||||||
COMMERCIAL PAPER (2.2%) | ||||||||||||||||
Air Products & Chemicals† | A-1 | 0.09 | 07/16/14 | 1,500,000 | 1,499,944 | |||||||||||
Alabama Power Co.† | A-1 | 0.10 | 07/07/14 | 9,000,000 | 8,999,850 | |||||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | 3,600,000 | 3,600,000 | |||||||||||
Int’l. Business Machines Corp.† | A-1+ | 0.10 | 09/10/14 | 2,150,000 | 2,149,576 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/15/14 | 1,600,000 | 1,599,944 | |||||||||||
Piedmont Natural Gas Co.† | A-1 | 0.11 | 07/01/14 | 3,700,000 | 3,700,000 | |||||||||||
Piedmont Natural Gas Co.† | A-1 | 0.11 | 07/02/14 | 2,000,000 | 1,999,994 | |||||||||||
Precision Castparts Corp.† | A-1 | 0.06 | 07/01/14 | 6,400,000 | 6,400,000 | |||||||||||
Wisconsin Power & Light | A-1 | 0.07 | 07/01/14 | 5,500,000 | 5,500,000 | |||||||||||
|
| |||||||||||||||
35,449,308 | ||||||||||||||||
|
| |||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 40,949,216 | |||||||||||||||
|
| |||||||||||||||
TEMPORARY CASH INVESTMENTS (2) | 375,600 | |||||||||||||||
|
|
TOTAL INVESTMENTS | 1,590,472,800 | |||
|
| |||
OTHER NET ASSETS 0.0% (3) | 433,199 | |||
|
| |||
NET ASSETS 100.0% | $1,590,905,999 | |||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (6.9%) | ||||||||
Amazon.com, Inc.* | 3,999 | 1,298,795 | ||||||
AutoNation, Inc.* | 678 | 40,463 | ||||||
AutoZone, Inc.* | 356 | 190,901 | ||||||
Bed Bath & Beyond, Inc.* | 2,189 | 125,605 | ||||||
Best Buy Co., Inc. | 2,956 | 91,666 | ||||||
BorgWarner, Inc. | 2,452 | 159,846 | ||||||
Cablevision Systems Corp. Cl A | 2,323 | 41,001 | ||||||
CarMax, Inc.* | 2,364 | 122,952 | ||||||
Carnival Corp. | 4,704 | 177,106 | ||||||
CBS Corp. Cl B | 5,670 | 352,334 | ||||||
Chipotle Mexican Grill, Inc.* | 334 | 197,898 | ||||||
Coach, Inc. | 2,941 | 100,553 | ||||||
Comcast Corp. Cl A | 27,888 | 1,497,028 | ||||||
D.R. Horton, Inc. | 3,071 | 75,485 | ||||||
Darden Restaurants, Inc. | 1,416 | 65,518 | ||||||
Delphi Automotive PLC | 2,965 | 203,814 | ||||||
DIRECTV* | 5,026 | 427,260 | ||||||
Discovery Communications, Inc. Cl A* | 2,339 | 173,741 | ||||||
Disney (Walt) Co. | 17,277 | 1,481,330 | ||||||
Dollar General Corp.* | 3,253 | 186,592 | ||||||
Dollar Tree, Inc.* | 2,219 | 120,847 | ||||||
Expedia, Inc. | 1,100 | 86,636 | ||||||
Family Dollar Stores, Inc. | 1,025 | 67,794 | ||||||
Ford Motor Co. | 42,416 | 731,252 | ||||||
Fossil Group, Inc.* | 511 | 53,410 | ||||||
GameStop Corp. Cl A | 1,229 | 49,738 | ||||||
Gannett Co., Inc. | 2,433 | 76,177 | ||||||
Gap, Inc. | 2,789 | 115,939 | ||||||
Garmin Ltd. | 1,317 | 80,205 | ||||||
General Motors Co. | 14,107 | 512,084 | ||||||
Genuine Parts Co. | 1,647 | 144,607 | ||||||
Goodyear Tire & Rubber Co. | 2,960 | 82,229 | ||||||
Graham Hldgs. Co. Cl B | 47 | 33,751 | ||||||
H&R Block, Inc. | 2,942 | 98,616 | ||||||
Harley-Davidson, Inc. | 2,342 | 163,589 | ||||||
Harman Int’l. Industries, Inc. | 730 | 78,424 | ||||||
Hasbro, Inc. | 1,239 | 65,729 | ||||||
Home Depot, Inc. | 14,674 | 1,188,007 | ||||||
Interpublic Group of Cos., Inc. | 4,544 | 88,653 | ||||||
Johnson Controls, Inc. | 7,124 | 355,701 | ||||||
Kohl’s Corp. | 2,091 | 110,154 | ||||||
L Brands, Inc. | 2,630 | 154,276 | ||||||
Leggett & Platt, Inc. | 1,488 | 51,009 | ||||||
Lennar Corp. Cl A | 1,886 | 79,174 | ||||||
Lowe’s Cos., Inc. | 10,698 | 513,397 | ||||||
Macy’s, Inc. | 3,866 | 224,305 | ||||||
Marriott International, Inc. Cl A | 2,355 | 150,956 | ||||||
Mattel, Inc. | 3,640 | 141,851 | ||||||
McDonald’s Corp. | 10,603 | 1,068,146 | ||||||
Michael Kors Hldgs. Ltd.* | 1,928 | 170,917 | ||||||
Mohawk Industries, Inc.* | 656 | 90,751 | ||||||
Netflix, Inc.* | 644 | 283,746 | ||||||
Newell Rubbermaid, Inc. | 2,969 | 92,009 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
News Corp. Cl A* | 5,342 | 95,836 | ||||||
NIKE, Inc. Cl B | 7,913 | 613,653 | ||||||
Nordstrom, Inc. | 1,508 | 102,438 | ||||||
O’Reilly Automotive, Inc.* | 1,137 | 171,232 | ||||||
Omnicom Group, Inc. | 2,772 | 197,422 | ||||||
PetSmart, Inc. | 1,065 | 63,687 | ||||||
Priceline Group Inc.* | 562 | 676,086 | ||||||
Pulte Homes, Inc. | 3,656 | 73,705 | ||||||
PVH Corp. | 882 | 102,841 | ||||||
Ralph Lauren Corp. | 629 | 101,074 | ||||||
Ross Stores, Inc. | 2,278 | 150,644 | ||||||
Scripps Networks Interactive, Inc. Cl A | 1,150 | 93,311 | ||||||
Staples, Inc. | 6,937 | 75,197 | ||||||
Starbucks Corp. | 8,076 | 624,921 | ||||||
Starwood Hotels & Resorts | 2,060 | 166,489 | ||||||
Target Corp. | 6,796 | 393,828 | ||||||
Tiffany & Co. | 1,190 | 119,298 | ||||||
Time Warner Cable, Inc. | 2,989 | 440,280 | ||||||
Time Warner, Inc. | 9,462 | 664,706 | ||||||
TJX Cos., Inc. | 7,512 | 399,263 | ||||||
Tractor Supply Co. | 1,486 | 89,754 | ||||||
TripAdvisor, Inc.* | 1,193 | 129,631 | ||||||
Twenty-First Century Fox, Inc. Cl A | 20,538 | 721,911 | ||||||
Under Armour, Inc. Cl A* | 1,737 | 103,334 | ||||||
Urban Outfitters, Inc.* | 1,093 | 37,009 | ||||||
V.F. Corp. | 3,693 | 232,659 | ||||||
Viacom, Inc. Cl B | 4,196 | 363,919 | ||||||
Whirlpool Corp. | 833 | 115,970 | ||||||
Wyndham Worldwide Corp. | 1,365 | 103,358 | ||||||
Wynn Resorts Ltd. | 869 | 180,370 | ||||||
Yum! Brands, Inc. | 4,735 | 384,482 | ||||||
|
| |||||||
22,122,275 | ||||||||
|
| |||||||
CONSUMER STAPLES (5.5%) | ||||||||
Altria Group, Inc. | 21,309 | 893,699 | ||||||
Archer-Daniels-Midland Co. | 7,020 | 309,652 | ||||||
Avon Products, Inc. | 4,661 | 68,097 | ||||||
Brown-Forman Corp. Cl B | 1,738 | 163,667 | ||||||
Campbell Soup Co. | 1,920 | 87,955 | ||||||
Clorox Co. | 1,380 | 126,132 | ||||||
Coca-Cola Co. | 40,546 | 1,717,529 | ||||||
Coca-Cola Enterprises, Inc. | 2,509 | 119,880 | ||||||
Colgate-Palmolive Co. | 9,329 | 636,051 | ||||||
ConAgra Foods, Inc. | 4,518 | 134,094 | ||||||
Constellation Brands, Inc. Cl A* | 1,810 | 159,515 | ||||||
Costco Wholesale Corp. | 4,702 | 541,482 | ||||||
CVS Caremark Corp. | 12,541 | 945,215 | ||||||
Dr. Pepper Snapple Group, Inc. | 2,105 | 123,311 | ||||||
Estee Lauder Cos., Inc. Cl A | 2,711 | 201,319 | ||||||
General Mills, Inc. | 6,591 | 346,291 | ||||||
Hershey Co. | 1,600 | 155,792 | ||||||
Hormel Foods Corp. | 1,444 | 71,261 | ||||||
J.M. Smucker Co. | 1,113 | 118,612 | ||||||
Kellogg Co. | 2,734 | 179,624 | ||||||
Keurig Green Mountain, Inc. | 1,361 | 169,594 | ||||||
Kimberly-Clark Corp. | 4,042 | 449,551 | ||||||
Kraft Foods Group, Inc. | 6,385 | 382,781 | ||||||
Kroger Co. | 5,465 | 270,135 | ||||||
Lorillard, Inc. | 3,888 | 237,051 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
McCormick & Co., Inc. | 1,400 | 100,226 | ||||||
Mead Johnson Nutrition Co. | 2,167 | 201,899 | ||||||
Molson Coors Brewing Co. Cl B | 1,704 | 126,369 | ||||||
Mondelez International, Inc. Cl A | 18,143 | 682,358 | ||||||
Monster Beverage Corp.* | 1,452 | 103,136 | ||||||
PepsiCo, Inc. | 16,261 | 1,452,758 | ||||||
Philip Morris Int’l., Inc. | 16,872 | 1,422,478 | ||||||
Proctor & Gamble Co. | 29,026 | 2,281,153 | ||||||
Reynolds American, Inc. | 3,337 | 201,388 | ||||||
Safeway, Inc. | 2,471 | 84,854 | ||||||
Sysco Corp. | 6,271 | 234,849 | ||||||
Tyson Foods, Inc. Cl A | 2,952 | 110,818 | ||||||
Wal-Mart Stores, Inc. | 17,290 | 1,297,960 | ||||||
Walgreen Co. | 9,420 | 698,305 | ||||||
Whole Foods Market, Inc. | 3,943 | 152,318 | ||||||
|
| |||||||
17,759,159 | ||||||||
|
| |||||||
ENERGY (6.3%) | ||||||||
Anadarko Petroleum Corp. | 5,417 | 592,999 | ||||||
Apache Corp. | 4,139 | 416,466 | ||||||
Baker Hughes, Inc. | 4,676 | 348,128 | ||||||
Cabot Oil & Gas Corp. | 4,476 | 152,811 | ||||||
Cameron International Corp.* | 2,190 | 148,285 | ||||||
Chesapeake Energy Corp. | 5,431 | 168,795 | ||||||
Chevron Corp. | 20,420 | 2,665,831 | ||||||
Cimarex Energy Co. | 934 | 133,992 | ||||||
ConocoPhillips | 13,169 | 1,128,978 | ||||||
CONSOL Energy, Inc. | 2,466 | 113,609 | ||||||
Denbury Resources, Inc. | 3,772 | 69,631 | ||||||
Devon Energy Corp. | 4,112 | 326,493 | ||||||
Diamond Offshore Drilling, Inc. | 735 | 36,478 | ||||||
Ensco PLC Cl A | 2,506 | 139,258 | ||||||
EOG Resources, Inc. | 5,862 | 685,033 | ||||||
EQT Corp. | 1,628 | 174,033 | ||||||
Exxon Mobil Corp. | 46,064 | 4,637,719 | ||||||
FMC Technologies, Inc.* | 2,522 | 154,019 | ||||||
Halliburton Co. | 9,058 | 643,209 | ||||||
Helmerich & Payne, Inc. | 1,160 | 134,688 | ||||||
Hess Corp. | 2,832 | 280,056 | ||||||
Kinder Morgan, Inc. | 7,166 | 259,839 | ||||||
Marathon Oil Corp. | 7,252 | 289,500 | ||||||
Marathon Petroleum Corp. | 3,097 | 241,783 | ||||||
Murphy Oil Corp. | 1,809 | 120,262 | ||||||
Nabors Industries Ltd. | 2,807 | 82,442 | ||||||
National Oilwell Varco, Inc. | 4,602 | 378,975 | ||||||
Newfield Exploration Co.* | 1,462 | 64,620 | ||||||
Noble Corp. PLC | 2,727 | 91,518 | ||||||
Noble Energy, Inc. | 3,853 | 298,453 | ||||||
Occidental Petroleum Corp. | 8,426 | 864,760 | ||||||
ONEOK, Inc. | 2,229 | 151,750 | ||||||
Peabody Energy Corp. | 2,911 | 47,595 | ||||||
Phillips 66 | 6,069 | 488,130 | ||||||
Pioneer Natural Resources Co. | 1,535 | 352,758 | ||||||
QEP Resources, Inc. | 1,931 | 66,620 | ||||||
Range Resources Corp. | 1,810 | 157,380 | ||||||
Rowan Companies PLC Cl A | 1,333 | 42,563 | ||||||
Schlumberger Ltd. | 13,968 | 1,647,526 | ||||||
Seventy Seven Energy, Inc.* | 1 | 22 | ||||||
Southwestern Energy Co.* | 3,788 | 172,316 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Spectra Energy Corp. | 7,195 | 305,644 | ||||||
Tesoro Corp. | 1,388 | 81,434 | ||||||
Transocean Ltd. | 3,650 | 164,360 | ||||||
Valero Energy Corp. | 5,724 | 286,772 | ||||||
Williams Cos., Inc. | 7,923 | 461,198 | ||||||
|
| |||||||
20,268,731 | ||||||||
|
| |||||||
FINANCIALS (9.3%) | ||||||||
ACE Ltd. | 3,623 | 375,705 | ||||||
Affiliated Managers Group, Inc.* | 601 | 123,445 | ||||||
Aflac, Inc. | 4,871 | 303,220 | ||||||
Allstate Corp. | 4,656 | 273,400 | ||||||
American Express Co. | 9,765 | 926,406 | ||||||
American Int’l. Group, Inc. | 15,518 | 846,972 | ||||||
American Tower Corp. | 4,245 | 381,965 | ||||||
Ameriprise Financial, Inc. | 2,036 | 244,320 | ||||||
Aon PLC | 3,181 | 286,576 | ||||||
Apartment Investment & Management Co. Cl A | 1,568 | 50,599 | ||||||
Assurant, Inc. | 768 | 50,342 | ||||||
AvalonBay Communities, Inc. | 1,307 | 185,842 | ||||||
Bank of America Corp. | 112,804 | 1,733,797 | ||||||
Bank of New York Mellon Corp. | 12,232 | 458,455 | ||||||
BB&T Corp. | 7,707 | 303,887 | ||||||
Berkshire Hathaway, Inc. Cl B* | 19,313 | 2,444,253 | ||||||
BlackRock, Inc. | 1,343 | 429,223 | ||||||
Boston Properties, Inc. | 1,642 | 194,052 | ||||||
Capital One Financial Corp. | 6,131 | 506,421 | ||||||
CBRE Group, Inc.* | 2,992 | 95,864 | ||||||
Charles Schwab Corp. | 12,561 | 338,268 | ||||||
Chubb Corp. | 2,623 | 241,762 | ||||||
Cincinnati Financial Corp. | 1,578 | 75,807 | ||||||
Citigroup, Inc. | 32,586 | 1,534,801 | ||||||
CME Group, Inc. | 3,385 | 240,166 | ||||||
Comerica, Inc. | 1,948 | 97,712 | ||||||
Crown Castle International Corp. | 3,580 | 265,851 | ||||||
Discover Financial Svcs. | 5,001 | 309,962 | ||||||
E*Trade Financial Corp.* | 3,093 | 65,757 | ||||||
Equity Residential | 3,603 | 226,989 | ||||||
Essex Property Trust, Inc. | 671 | 124,075 | ||||||
Fifth Third Bancorp | 9,123 | 194,776 | ||||||
Franklin Resources, Inc. | 4,310 | 249,290 | ||||||
General Growth Pptys., Inc. | 5,593 | 131,771 | ||||||
Genworth Financial, Inc. Cl A* | 5,324 | 92,638 | ||||||
Goldman Sachs Group, Inc. | 4,460 | 746,782 | ||||||
Hartford Financial Svcs. Group, Inc. | 4,824 | 172,747 | ||||||
HCP, Inc. | 4,915 | 203,383 | ||||||
Health Care REIT, Inc. | 3,277 | 205,370 | ||||||
Host Hotels & Resorts, Inc. | 8,120 | 178,721 | ||||||
Hudson City Bancorp, Inc. | 5,104 | 50,172 | ||||||
Huntington Bancshares, Inc. | 8,879 | 84,706 | ||||||
Intercontinental Exchange Inc | 1,235 | 233,292 | ||||||
Invesco Ltd. | 4,641 | 175,198 | ||||||
JPMorgan Chase & Co. | 40,597 | 2,339,199 | ||||||
KeyCorp | 9,474 | 135,762 | ||||||
Kimco Realty Corp. | 4,405 | 101,227 | ||||||
Legg Mason, Inc. | 1,103 | 56,595 | ||||||
Leucadia National Corp. | 3,400 | 89,148 | ||||||
Lincoln National Corp. | 2,829 | 145,524 | ||||||
Loews Corp. | 3,275 | 144,133 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
M&T Bank Corp. | 1,410 | 174,911 | ||||||
Marsh & McLennan Cos., Inc. | 5,895 | 305,479 | ||||||
McGraw-Hill Financial, Inc. | 2,920 | 242,448 | ||||||
MetLife, Inc. | 12,071 | 670,665 | ||||||
Moody’s Corp. | 2,017 | 176,810 | ||||||
Morgan Stanley | 15,014 | 485,403 | ||||||
Nasdaq OMX Group, Inc. | 1,264 | 48,816 | ||||||
Navient Corp. | 4,534 | 80,297 | ||||||
Northern Trust Corp. | 2,385 | 153,141 | ||||||
People’s United Financial, Inc. | 3,326 | 50,455 | ||||||
Plum Creek Timber Co., Inc. | 1,900 | 85,690 | ||||||
PNC Financial Svcs. Grp., Inc. | 5,729 | 510,167 | ||||||
Principal Financial Grp., Inc. | 2,935 | 148,159 | ||||||
Progressive Corp. | 5,842 | 148,153 | ||||||
ProLogis, Inc. | 5,360 | 220,242 | ||||||
Prudential Financial, Inc. | 4,955 | 439,855 | ||||||
Public Storage | 1,555 | 266,449 | ||||||
Regions Financial Corp. | 14,792 | 157,091 | ||||||
Simon Property Group, Inc. | 3,333 | 554,211 | ||||||
State Street Corp. | 4,620 | 310,741 | ||||||
SunTrust Banks, Inc. | 5,715 | 228,943 | ||||||
T. Rowe Price Group, Inc. | 2,819 | 237,952 | ||||||
The Macerich Co. | 1,510 | 100,793 | ||||||
Torchmark Corp. | 941 | 77,087 | ||||||
Travelers Cos., Inc. | 3,728 | 350,693 | ||||||
U.S. Bancorp | 19,470 | 843,440 | ||||||
Unum Group | 2,761 | 95,972 | ||||||
Ventas, Inc. | 3,158 | 202,428 | ||||||
Vornado Realty Trust | 1,870 | 199,585 | ||||||
Wells Fargo & Co. | 51,413 | 2,702,267 | ||||||
Weyerhaeuser Co. | 6,278 | 207,739 | ||||||
XL Group PLC | 2,912 | 95,310 | ||||||
Zions Bancorporation | 1,983 | 58,439 | ||||||
|
| |||||||
30,096,159 | ||||||||
|
| |||||||
HEALTH CARE (7.7%) | ||||||||
Abbott Laboratories | 16,110 | 658,899 | ||||||
AbbVie, Inc. | 17,053 | 962,471 | ||||||
Actavis PLC* | 1,871 | 417,327 | ||||||
Aetna, Inc. | 3,834 | 310,861 | ||||||
Agilent Technologies, Inc. | 3,574 | 205,291 | ||||||
Alexion Pharmaceuticals, Inc.* | 2,121 | 331,406 | ||||||
Allergan, Inc. | 3,191 | 539,981 | ||||||
AmerisourceBergen Corp. | 2,422 | 175,983 | ||||||
Amgen, Inc. | 8,120 | 961,164 | ||||||
Bard (C.R.), Inc. | 817 | 116,839 | ||||||
Baxter International, Inc. | 5,821 | 420,858 | ||||||
Becton, Dickinson & Co. | 2,072 | 245,118 | ||||||
Biogen Idec, Inc.* | 2,544 | 802,149 | ||||||
Boston Scientific Corp.* | 14,188 | 181,181 | ||||||
Bristol-Myers Squibb Co. | 17,776 | 862,314 | ||||||
Cardinal Health, Inc. | 3,649 | 250,175 | ||||||
CareFusion Corp.* | 2,223 | 98,590 | ||||||
Celgene Corp.* | 8,592 | 737,881 | ||||||
Cerner Corp.* | 3,168 | 163,405 | ||||||
CIGNA Corp. | 2,882 | 265,058 | ||||||
Covidien PLC | 4,837 | 436,201 | ||||||
DaVita HealthCare Partners, Inc.* | 1,908 | 137,987 | ||||||
DENTSPLY International, Inc. | 1,521 | 72,019 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Edwards Lifesciences Corp.* | 1,132 | 97,171 | ||||||
Express Scripts Hldg. Co.* | 8,291 | 574,815 | ||||||
Forest Laboratories, Inc.* | 2,573 | 254,727 | ||||||
Gilead Sciences, Inc.* | 16,472 | 1,365,694 | ||||||
Hospira, Inc.* | 1,793 | 92,106 | ||||||
Humana, Inc. | 1,661 | 212,143 | ||||||
Intuitive Surgical, Inc.* | 411 | 169,250 | ||||||
Johnson & Johnson | 30,346 | 3,174,794 | ||||||
Laboratory Corp. of America Hldgs.* | 910 | 93,184 | ||||||
Lilly (Eli) & Co. | 10,566 | 656,888 | ||||||
McKesson Corp. | 2,473 | 460,497 | ||||||
Medtronic, Inc. | 10,716 | 683,252 | ||||||
Merck & Co., Inc. | 31,347 | 1,813,424 | ||||||
Mylan, Inc.* | 4,008 | 206,652 | ||||||
Patterson Cos., Inc. | 881 | 34,808 | ||||||
PerkinElmer, Inc. | 1,215 | 56,911 | ||||||
Perrigo Co. PLC | 1,435 | 209,166 | ||||||
Pfizer, Inc. | 68,422 | 2,030,765 | ||||||
Quest Diagnostics, Inc. | 1,549 | 90,911 | ||||||
Regeneron Pharmaceuticals, Inc.* | 855 | 241,512 | ||||||
St. Jude Medical, Inc. | 3,048 | 211,074 | ||||||
Stryker Corp. | 3,171 | 267,379 | ||||||
Tenet Healthcare Corp.* | 1,047 | 49,146 | ||||||
Thermo Fisher Scientific, Inc. | 4,280 | 505,040 | ||||||
UnitedHealth Group, Inc. | 10,510 | 859,193 | ||||||
Varian Medical Systems, Inc.* | 1,115 | 92,701 | ||||||
Vertex Pharmaceuticals, Inc.* | 2,535 | 240,014 | ||||||
Waters Corp.* | 910 | 95,040 | ||||||
WellPoint, Inc. | 3,000 | 322,830 | ||||||
Zimmer Hldgs., Inc. | 1,801 | 187,052 | ||||||
Zoetis, Inc. | 5,375 | 173,451 | ||||||
|
| |||||||
24,874,748 | ||||||||
|
| |||||||
INDUSTRIALS (6.1%) | ||||||||
3M Co. | 6,667 | 954,981 | ||||||
Allegion PLC | 963 | 54,583 | ||||||
AMETEK, Inc. | 2,631 | 137,549 | ||||||
Boeing Co. | 7,196 | 915,547 | ||||||
Caterpillar, Inc. | 6,695 | 727,546 | ||||||
Cintas Corp. | 1,082 | 68,750 | ||||||
CSX Corp. | 10,773 | 331,916 | ||||||
Cummins, Inc. | 1,834 | 282,968 | ||||||
Danaher Corp. | 6,453 | 508,045 | ||||||
Deere & Co. | 3,902 | 353,326 | ||||||
Delta Air Lines, Inc. | 9,095 | 352,158 | ||||||
Dover Corp. | 1,786 | 162,437 | ||||||
Dun & Bradstreet Corp. | 397 | 43,749 | ||||||
Eaton Corp. PLC | 5,113 | 394,621 | ||||||
Emerson Electric Co. | 7,527 | 499,492 | ||||||
Equifax, Inc. | 1,309 | 94,955 | ||||||
Expeditors Int’l. of Wash. | 2,118 | 93,531 | ||||||
Fastenal Co. | 2,928 | 144,907 | ||||||
FedEx Corp. | 2,979 | 450,961 | ||||||
Flowserve Corp. | 1,473 | 109,518 | ||||||
Fluor Corp. | 1,707 | 131,268 | ||||||
General Dynamics Corp. | 3,494 | 407,226 | ||||||
General Electric Co. | 107,565 | 2,826,803 | ||||||
Grainger (W.W.), Inc. | 653 | 166,038 | ||||||
Honeywell International, Inc. | 8,400 | 780,780 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Illinois Tool Works, Inc. | 4,072 | 356,544 | ||||||
Ingersoll-Rand PLC | 2,692 | 168,277 | ||||||
Iron Mountain, Inc. | 1,833 | 64,980 | ||||||
Jacobs Engineering Group, Inc.* | 1,418 | 75,551 | ||||||
Joy Global, Inc. | 1,071 | 65,952 | ||||||
Kansas City Southern | 1,183 | 127,184 | ||||||
L-3 Communications Hldgs., Inc. | 925 | 111,694 | ||||||
Lockheed Martin Corp. | 2,859 | 459,527 | ||||||
Masco Corp. | 3,823 | 84,871 | ||||||
Nielsen N.V. | 3,251 | 157,381 | ||||||
Norfolk Southern Corp. | 3,321 | 342,163 | ||||||
Northrop Grumman Corp. | 2,296 | 274,670 | ||||||
PACCAR, Inc. | 3,804 | 239,005 | ||||||
Pall Corp. | 1,177 | 100,504 | ||||||
Parker Hannifin Corp. | 1,598 | 200,917 | ||||||
Pentair PLC | 2,088 | 150,587 | ||||||
Pitney Bowes, Inc. | 2,174 | 60,046 | ||||||
Precision Castparts Corp. | 1,552 | 391,725 | ||||||
Quanta Services, Inc.* | 2,337 | 80,813 | ||||||
Raytheon Co. | 3,355 | 309,499 | ||||||
Republic Services, Inc. | 2,866 | 108,822 | ||||||
Robert Half Int’l., Inc. | 1,475 | 70,417 | ||||||
Robinson (C.H.) Worldwide, Inc. | 1,592 | 101,554 | ||||||
Rockwell Automation, Inc. | 1,485 | 185,863 | ||||||
Rockwell Collins, Inc. | 1,453 | 113,537 | ||||||
Roper Industries, Inc. | 1,070 | 156,231 | ||||||
Ryder System, Inc. | 571 | 50,299 | ||||||
Snap-on, Inc. | 625 | 74,075 | ||||||
Southwest Airlines Co. | 7,421 | 199,328 | ||||||
Stanley Black & Decker, Inc. | 1,674 | 147,011 | ||||||
Stericycle, Inc.* | 909 | 107,644 | ||||||
Textron, Inc. | 2,994 | 114,640 | ||||||
The ADT Corp. | 1,870 | 65,338 | ||||||
Tyco International Ltd. | 4,948 | 225,629 | ||||||
Union Pacific Corp. | 9,717 | 969,271 | ||||||
United Parcel Service, Inc. Cl B | 7,560 | 776,110 | ||||||
United Technologies Corp. | 9,046 | 1,044,361 | ||||||
Waste Management, Inc. | 4,640 | 207,547 | ||||||
Xylem, Inc. | 1,972 | 77,066 | ||||||
|
| |||||||
19,610,288 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.9%) | ||||||||
Accenture Ltd. Cl A | 6,791 | 548,984 | ||||||
Adobe Systems, Inc.* | 4,966 | 359,340 | ||||||
Akamai Technologies, Inc.* | 1,910 | 116,625 | ||||||
Alliance Data Systems Corp.* | 581 | 163,406 | ||||||
Altera Corp. | 3,361 | 116,828 | ||||||
Amphenol Corp. Cl A | 1,685 | 162,333 | ||||||
Analog Devices, Inc. | 3,370 | 182,216 | ||||||
Apple, Inc. | 64,677 | 6,010,429 | ||||||
Applied Materials, Inc. | 13,058 | 294,458 | ||||||
Autodesk, Inc.* | 2,445 | 137,849 | ||||||
Automatic Data Processing, Inc. | 5,171 | 409,957 | ||||||
Avago Technologies Ltd. | 2,700 | 194,589 | ||||||
Broadcom Corp. Cl A | 5,962 | 221,309 | ||||||
CA, Inc. | 3,421 | 98,320 | ||||||
Cisco Systems, Inc. | 54,950 | 1,365,508 | ||||||
Citrix Systems, Inc.* | 1,758 | 109,963 | ||||||
Cognizant Technology Solutions* | 6,527 | 319,236 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Computer Sciences Corp. | 1,553 | 98,150 | ||||||
Corning, Inc. | 14,035 | 308,068 | ||||||
eBay, Inc.* | 12,235 | 612,484 | ||||||
Electronic Arts, Inc.* | 3,374 | 121,025 | ||||||
EMC Corp. | 21,961 | 578,453 | ||||||
F5 Networks, Inc.* | 813 | 90,601 | ||||||
Facebook, Inc. Cl A* | 18,447 | 1,241,299 | ||||||
Fidelity Nat’l. Information Svcs., Inc. | 3,087 | 168,982 | ||||||
First Solar, Inc.* | 762 | 54,148 | ||||||
Fiserv, Inc.* | 2,673 | 161,235 | ||||||
FLIR Systems, Inc. | 1,519 | 52,755 | ||||||
Google, Inc. Cl A* | 3,039 | 1,776,812 | ||||||
Google, Inc. Cl C* | 3,039 | 1,748,276 | ||||||
Harris Corp. | 1,142 | 86,507 | ||||||
Hewlett-Packard Co. | 20,074 | 676,092 | ||||||
Int’l. Business Machines Corp. | 10,206 | 1,850,042 | ||||||
Intel Corp. | 53,398 | 1,649,998 | ||||||
Intuit, Inc. | 3,046 | 245,294 | ||||||
Jabil Circuit, Inc. | 1,985 | 41,487 | ||||||
Juniper Networks, Inc.* | 5,081 | 124,688 | ||||||
KLA-Tencor Corp. | 1,779 | 129,227 | ||||||
Lam Research Corp. | 1,739 | 117,522 | ||||||
Linear Technology Corp. | 2,538 | 119,464 | ||||||
MasterCard, Inc. Cl A | 10,778 | 791,860 | ||||||
Microchip Technology, Inc. | 2,149 | 104,893 | ||||||
Micron Technology, Inc.* | 11,482 | 378,332 | ||||||
Microsoft Corp. | 80,631 | 3,362,308 | ||||||
Motorola Solutions, Inc. | 2,426 | 161,499 | ||||||
NetApp, Inc. | 3,554 | 129,792 | ||||||
NVIDIA Corp. | 5,986 | 110,980 | ||||||
Oracle Corp. | 36,829 | 1,492,679 | ||||||
Paychex, Inc. | 3,472 | 144,296 | ||||||
QUALCOMM, Inc. | 18,106 | 1,433,995 | ||||||
Red Hat, Inc.* | 2,032 | 112,309 | ||||||
Salesforce.com, inc.* | 6,060 | 351,965 | ||||||
SanDisk Corp. | 2,426 | 253,347 | ||||||
Seagate Technology PLC | 3,502 | 198,984 | ||||||
Symantec Corp. | 7,420 | 169,918 | ||||||
TE Connectivity Ltd. | 4,384 | 271,107 | ||||||
Teradata Corp.* | 1,692 | 68,018 | ||||||
Texas Instruments, Inc. | 11,578 | 553,313 | ||||||
Total System Services, Inc. | 1,781 | 55,941 | ||||||
VeriSign, Inc.* | 1,326 | 64,722 | ||||||
Visa, Inc. Cl A | 5,392 | 1,136,148 | ||||||
Western Digital Corp. | 2,244 | 207,121 | ||||||
Western Union Co. | 5,780 | 100,225 | ||||||
Xerox Corp. | 11,718 | 145,772 | ||||||
Xilinx, Inc. | 2,884 | 136,442 | ||||||
Yahoo!, Inc.* | 10,044 | 352,846 | ||||||
|
| |||||||
35,152,771 | ||||||||
|
| |||||||
MATERIALS (2.0%) | ||||||||
Air Products & Chemicals, Inc. | 2,277 | 292,868 | ||||||
Airgas, Inc. | 718 | 78,197 | ||||||
Alcoa, Inc. | 12,574 | 187,227 | ||||||
Allegheny Technologies, Inc. | 1,165 | 52,542 | ||||||
Avery Dennison Corp. | 1,021 | 52,326 | ||||||
Ball Corp. | 1,496 | 93,769 | ||||||
Bemis Co., Inc. | 1,082 | 43,994 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
CF Industries Hldgs., Inc. | 559 | 134,456 | ||||||
Dow Chemical Co. | 12,915 | 664,606 | ||||||
Du Pont (E.I.) de Nemours & Co. | 9,850 | 644,584 | ||||||
Eastman Chemical Co. | 1,612 | 140,808 | ||||||
Ecolab, Inc. | 2,898 | 322,663 | ||||||
FMC Corp. | 1,429 | 101,731 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 11,142 | 406,683 | ||||||
Int’l. Flavors & Fragrances, Inc. | 872 | 90,932 | ||||||
International Paper Co. | 4,646 | 234,484 | ||||||
LyondellBasell Inds. N.V. Cl A | 4,468 | 436,300 | ||||||
MeadWestvaco Corp. | 1,800 | 79,668 | ||||||
Monsanto Co. | 5,623 | 701,413 | ||||||
Newmont Mining Corp. | 5,346 | 136,002 | ||||||
Nucor Corp. | 3,417 | 168,287 | ||||||
Owens-Illinois, Inc.* | 1,771 | 61,347 | ||||||
PPG Industries, Inc. | 1,484 | 311,863 | ||||||
Praxair, Inc. | 3,143 | 417,516 | ||||||
Sealed Air Corp. | 2,084 | 71,210 | ||||||
Sherwin-Williams Co. | 908 | 187,874 | ||||||
Sigma-Aldrich Corp. | 1,275 | 129,387 | ||||||
The Mosaic Co. | 3,470 | 171,592 | ||||||
United States Steel Corp. | 1,553 | 40,440 | ||||||
Vulcan Materials Co. | 1,404 | 89,505 | ||||||
|
| |||||||
6,544,274 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (1.4%) | ||||||||
AT&T, Inc. | 55,654 | 1,967,925 | ||||||
CenturyLink, Inc. | 6,144 | 222,413 | ||||||
Frontier Communications Corp. | 10,752 | 62,792 | ||||||
Verizon Communications, Inc. | 44,421 | 2,173,520 | ||||||
Windstream Hldgs., Inc. | 6,464 | 64,381 | ||||||
|
| |||||||
4,491,031 | ||||||||
|
| |||||||
UTILITIES (1.8%) | ||||||||
AES Corp. | 7,080 | 110,094 | ||||||
AGL Resources, Inc. | 1,280 | 70,438 | ||||||
Ameren Corp. | 2,603 | 106,411 | ||||||
American Electric Power Co., Inc. | 5,235 | 291,956 | ||||||
CenterPoint Energy, Inc. | 4,610 | 117,739 | ||||||
CMS Energy Corp. | 2,891 | 90,055 | ||||||
Consolidated Edison, Inc. | 3,142 | 181,419 | ||||||
Dominion Resources, Inc. | 6,238 | 446,142 | ||||||
DTE Energy Co. | 1,898 | 147,797 | ||||||
Duke Energy Corp. | 7,587 | 562,880 | ||||||
Edison International | 3,494 | 203,036 | ||||||
Entergy Corp. | 1,924 | 157,941 | ||||||
Exelon Corp. | 9,212 | 336,054 | ||||||
FirstEnergy Corp. | 4,501 | 156,275 | ||||||
Integrys Energy Group, Inc. | 858 | 61,030 | ||||||
NextEra Energy, Inc. | 4,679 | 479,504 | ||||||
NiSource, Inc. | 3,378 | 132,891 | ||||||
Northeast Utilities | 3,390 | 160,245 | ||||||
NRG Energy, Inc. | 3,617 | 134,552 | ||||||
Pepco Hldgs., Inc. | 2,693 | 74,004 | ||||||
PG&E Corp. | 4,985 | 239,380 | ||||||
Pinnacle West Capital Corp. | 1,184 | 68,483 | ||||||
PPL Corp. | 6,777 | 240,787 | ||||||
Public Svc. Enterprise Group, Inc. | 5,427 | 221,367 | ||||||
SCANA Corp. | 1,519 | 81,737 | ||||||
Sempra Energy | 2,446 | 256,121 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Southern Co. | 9,556 | 433,651 | ||||||
TECO Energy, Inc. | 2,197 | 40,601 | ||||||
Wisconsin Energy Corp. | 2,420 | 113,546 | ||||||
Xcel Energy, Inc. | 5,385 | 173,559 | ||||||
|
| |||||||
5,889,695 | ||||||||
|
| |||||||
TOTAL INDEXED ASSETS - COMMON STOCKS | 186,809,131 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
INDEXED ASSETS: | ||||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||
U.S. GOVERNMENT (0.1%) | ||||||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.01 | 08/21/14 | 200,000 | 199,997 | |||||||||||||
|
| |||||||||||||||||
COMMERCIAL PAPER (0.3%) | ||||||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 1,000,000 | 1,000,000 | |||||||||||||
|
| |||||||||||||||||
TOTAL INDEXED ASSETS - SHORT-TERM DEBT SECURITIES |
| 1,199,997 | ||||||||||||||||
|
| |||||||||||||||||
TOTAL INDEXED ASSETS | 188,009,128 | |||||||||||||||||
|
|
Shares | Value | |||||||
ACTIVE ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (4.9%) | ||||||||
Aeropostale, Inc.* | 37,472 | 130,777 | ||||||
Amazon.com, Inc.* | 2,475 | 803,831 | ||||||
American Axle & Mfg. Hldgs., Inc.* | 8,842 | 167,025 | ||||||
AutoZone, Inc.* | 659 | 353,382 | ||||||
Bally Technologies, Inc.* | 4,290 | 281,939 | ||||||
Bassett Furniture Industries, Inc. | 28,053 | 369,177 | ||||||
Brunswick Corp. | 2,725 | 114,804 | ||||||
Carmike Cinemas, Inc.* | 6,582 | 231,226 | ||||||
Cooper Tire & Rubber Co. | 7,935 | 238,050 | ||||||
Deckers Outdoor Corp.* | 7,322 | 632,109 | ||||||
Diamond Resorts Int’l., Inc.* | 35,109 | 816,986 | ||||||
Discovery Communications, Inc. Cl A* | 3,838 | 285,087 | ||||||
Disney (Walt) Co. | 11,399 | 977,350 | ||||||
Dollar Tree, Inc.* | 2,799 | 152,434 | ||||||
Dorman Products, Inc.* | 2,811 | 138,639 | ||||||
Drew Industries, Inc. | 4,753 | 237,698 | ||||||
Ford Motor Co. | 16,682 | 287,598 | ||||||
General Motors Co. | 8,119 | 294,720 | ||||||
Haverty Furniture Cos., Inc. | 11,362 | 285,527 | ||||||
Home Depot, Inc. | 7,734 | 626,145 | ||||||
Houghton Mifflin Harcourt Co.* | 31,474 | 603,042 | ||||||
HSN, Inc. | 3,082 | 182,578 | ||||||
Johnson Controls, Inc. | 4,165 | 207,958 | ||||||
Macy’s, Inc. | 7,974 | 462,651 | ||||||
McDonald’s Corp. | 6,515 | 656,321 | ||||||
Popeyes Louisiana Kitchen, Inc.* | 14,569 | 636,811 | ||||||
Priceline Group Inc.* | 256 | 307,968 | ||||||
Red Robin Gourmet Burgers, Inc.* | 4,435 | 315,772 | ||||||
Rent-A-Center, Inc. | 6,793 | 194,823 | ||||||
Ruby Tuesday, Inc.* | 30,179 | 229,059 | ||||||
Select Comfort Corp.* | 8,111 | 167,573 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shutterfly, Inc.* | 7,263 | 312,745 | ||||||
Sotheby’s | 3,147 | 132,143 | ||||||
Starbucks Corp. | 8,369 | 647,593 | ||||||
Steve Madden Ltd.* | 8,349 | 286,371 | ||||||
Target Corp. | 7,835 | 454,038 | ||||||
The Men’s Wearhouse, Inc. | 3,304 | 184,363 | ||||||
Time Warner Cable, Inc. | 4,260 | 627,498 | ||||||
Time Warner, Inc. | 7,168 | 503,552 | ||||||
Time, Inc.* | 896 | 21,701 | ||||||
TJX Cos., Inc. | 5,518 | 293,282 | ||||||
ValueVision Media, Inc. Cl A* | 13,160 | 65,668 | ||||||
Viacom, Inc. Cl B | 5,089 | 441,369 | ||||||
Wolverine World Wide, Inc. | 11,031 | 287,468 | ||||||
|
| |||||||
15,646,851 | ||||||||
|
| |||||||
CONSUMER STAPLES (2.6%) | ||||||||
Boston Beer Co., Inc. Cl A* | 310 | 69,291 | ||||||
Coca-Cola Co. | 10,875 | 460,665 | ||||||
Colgate-Palmolive Co. | 6,058 | 413,034 | ||||||
Constellation Brands, Inc. Cl A* | 6,487 | 571,699 | ||||||
Crimson Wine Group Ltd.* | 30,332 | 274,505 | ||||||
Darling Ingredients Inc.* | 10,000 | 209,000 | ||||||
Estee Lauder Cos., Inc. Cl A | 5,842 | 433,827 | ||||||
Farmer Brothers Co.* | 12,648 | 273,323 | ||||||
Hain Celestial Group, Inc.* | 3,002 | 266,397 | ||||||
Mead Johnson Nutrition Co. | 2,439 | 227,242 | ||||||
Mondelez International, Inc. Cl A | 8,942 | 336,309 | ||||||
PepsiCo, Inc. | 7,058 | 630,562 | ||||||
Philip Morris Int’l., Inc. | 4,716 | 397,606 | ||||||
Proctor & Gamble Co. | 12,315 | 967,836 | ||||||
Spectrum Brands Hldgs., Inc. | 2,710 | 233,141 | ||||||
Susser Hldgs. Corp.* | 4,081 | 329,418 | ||||||
Sysco Corp. | 8,709 | 326,152 | ||||||
The Pantry, Inc.* | 17,460 | 282,852 | ||||||
TreeHouse Foods, Inc.* | 2,183 | 174,793 | ||||||
Tyson Foods, Inc. Cl A | 7,359 | 276,257 | ||||||
Vector Group Ltd. | 8,996 | 186,037 | ||||||
Village Super Market, Inc. Cl A | 6,104 | 144,238 | ||||||
Wal-Mart Stores, Inc. | 9,917 | 744,469 | ||||||
|
| |||||||
8,228,653 | ||||||||
|
| |||||||
ENERGY (3.7%) | ||||||||
Anadarko Petroleum Corp. | 5,557 | 608,325 | ||||||
Apache Corp. | 3,762 | 378,532 | ||||||
Basic Energy Services, Inc.* | 6,120 | 178,826 | ||||||
Carrizo Oil and Gas, Inc.* | 8,492 | 588,156 | ||||||
Chevron Corp. | 5,030 | 656,667 | ||||||
Emerald Oil, Inc.* | 29,918 | 228,873 | ||||||
Endeavour International Corp.* | 44,490 | 60,951 | ||||||
Energy XXI (Bermuda) Ltd. | 20,627 | 487,416 | ||||||
EOG Resources, Inc. | 5,444 | 636,186 | ||||||
Exxon Mobil Corp. | 20,307 | 2,044,509 | ||||||
Gulf Coast Ultra Deep Royalty Trust* | 64,939 | 190,271 | ||||||
Halliburton Co. | 12,513 | 888,548 | ||||||
Helix Energy Solutions Group* | 7,349 | 193,352 | ||||||
Hess Corp. | 3,637 | 359,663 | ||||||
Kodiak Oil & Gas Corp.* | 17,219 | 250,536 | ||||||
Matador Resources Co.* | 7,170 | 209,938 | ||||||
National Oilwell Varco, Inc. | 5,629 | 463,548 | ||||||
Noble Energy, Inc. | 9,632 | 746,095 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Occidental Petroleum Corp. | 5,923 | 607,877 | ||||||
PBF Energy, Inc. | 22,610 | 602,556 | ||||||
Range Resources Corp. | 3,158 | 274,588 | ||||||
Sanchez Energy Corp.* | 6,186 | 232,532 | ||||||
Stone Energy Corp.* | 4,510 | 211,023 | ||||||
Synergy Resources Corp.* | 12,861 | 170,408 | ||||||
Targa Resources Corp. | 2,841 | 396,518 | ||||||
Western Refining, Inc. | 5,599 | 210,242 | ||||||
|
| |||||||
11,876,136 | ||||||||
|
| |||||||
FINANCIALS (7.7%) | ||||||||
Agree Realty Corp. | 2,037 | 61,579 | ||||||
Alexander’s, Inc. | 290 | 107,146 | ||||||
American Assets Trust, Inc. | 5,550 | 191,753 | ||||||
American Int’l. Group, Inc. | 11,571 | 631,545 | ||||||
Aon PLC | 3,670 | 330,630 | ||||||
Ashford Hospitality Prime, Inc | 4,411 | 75,693 | ||||||
Ashford Hospitality Trust, Inc. | 17,333 | 200,023 | ||||||
Aspen Insurance Hldgs. Ltd. | 5,265 | 239,136 | ||||||
BancFirst Corp. | 3,883 | 240,358 | ||||||
Bank of America Corp. | 41,917 | 644,264 | ||||||
Bank of Marin Bancorp | 3,191 | 145,478 | ||||||
Banner Corp. | 6,374 | 252,602 | ||||||
Berkshire Hathaway, Inc. Cl B* | 4,705 | 595,465 | ||||||
Brookline Bancorp, Inc. | 24,072 | 225,555 | ||||||
Bryn Mawr Bank Corp. | 6,860 | 199,763 | ||||||
Capital One Financial Corp. | 11,278 | 931,563 | ||||||
Cash America Int’l., Inc. | 3,009 | 133,690 | ||||||
Charter Financial Corp. | 9,070 | 100,677 | ||||||
Chatham Lodging Trust | 9,036 | 197,888 | ||||||
Chesapeake Lodging Trust | 10,921 | 330,142 | ||||||
Citigroup, Inc. | 11,032 | 519,607 | ||||||
Columbia Banking System, Inc. | 5,287 | 139,101 | ||||||
Comerica, Inc. | 7,965 | 399,524 | ||||||
Cousins Properties, Inc. | 14,270 | 177,662 | ||||||
Customers Bancorp, Inc.* | 8,007 | 160,220 | ||||||
Dime Community Bancshares | 11,283 | 178,159 | ||||||
Eagle Bancorp, Inc.* | 4,028 | 135,945 | ||||||
EastGroup Properties, Inc. | 1,596 | 102,511 | ||||||
Ellington Financial LLC | 19,617 | 470,808 | ||||||
Enterprise Financial Svcs. Corp. | 7,390 | 133,463 | ||||||
Equity Lifestyle Properties, Inc. | 4,470 | 197,395 | ||||||
FBR & Co.* | 3,650 | 99,025 | ||||||
FelCor Lodging Trust, Inc. | 37,930 | 398,644 | ||||||
First Interstate BancSytem, Inc. | 10,511 | 285,689 | ||||||
Flushing Financial Corp. | 7,095 | 145,802 | ||||||
Forest City Enterprises, Inc. Cl A* | 17,693 | 351,560 | ||||||
Franklin Resources, Inc. | 4,390 | 253,918 | ||||||
Geo Group, Inc.* | 4,399 | 157,176 | ||||||
Glacier Bancorp, Inc. | 12,013 | 340,929 | ||||||
Goldman Sachs Group, Inc. | 3,872 | 648,328 | ||||||
Hanmi Financial Corp. | 4,271 | 90,033 | ||||||
Health Insurance Innovations, Inc. Cl A* | 10,473 | 129,027 | ||||||
Highwoods Properties, Inc. | 7,424 | 311,437 | ||||||
Home Loan Servicing Solutions Ltd. | 7,370 | 167,520 | ||||||
Investors Bancorp, Inc. | 39,449 | 435,912 | ||||||
iShares Micro-Cap ETF | 2,690 | 204,763 | ||||||
iShares Russell 2000 ETF | 3,930 | 466,923 | ||||||
iShares Russell 2000 Growth ETF | 587 | 81,253 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
iShares Russell 2000 Value ETF | 4,890 | 504,941 | ||||||
Janus Capital Group, Inc. | 21,433 | 267,484 | ||||||
JPMorgan Chase & Co. | 24,967 | 1,438,599 | ||||||
Marlin Business Svcs. Corp. | 12,346 | 224,574 | ||||||
MB Financial, Inc. | 9,831 | 265,929 | ||||||
Meadowbrook Insurance Group, Inc. | 37,666 | 270,819 | ||||||
MetLife, Inc. | 11,439 | 635,551 | ||||||
Northfield Bancorp, Inc. | 17,703 | 232,086 | ||||||
Parkway Properties, Inc. | 6,454 | 133,275 | ||||||
Pennsylvania REIT | 10,444 | 196,556 | ||||||
PNC Financial Svcs. Grp., Inc. | 4,940 | 439,907 | ||||||
Primerica, Inc. | 4,635 | 221,785 | ||||||
PrivateBancorp, Inc. | 9,234 | 268,340 | ||||||
ProAssurance Corp. | 6,653 | 295,393 | ||||||
Prosperity Bancshares, Inc. | 4,480 | 280,448 | ||||||
PS Business Parks, Inc. | 2,154 | 179,837 | ||||||
Sabra Health Care REIT, Inc. | 7,819 | 224,483 | ||||||
Select Income REIT | 11,767 | 348,774 | ||||||
Selective Insurance Group, Inc. | 6,080 | 150,298 | ||||||
Silvercrest Asset Mgmt. Group, Inc. Cl A | 9,734 | 167,522 | ||||||
Simon Property Group, Inc. | 4,069 | 676,593 | ||||||
Sovran Self Storage, Inc. | 1,431 | 110,545 | ||||||
Starwood Property Trust, Inc. | 7,556 | 179,606 | ||||||
Stifel Financial Corp.* | 4,797 | 227,138 | ||||||
Stock Yards Bancorp, Inc. | 9,068 | 271,133 | ||||||
SVB Financial Group* | 4,005 | 467,063 | ||||||
Symetra Financial Corp. | 18,685 | 424,897 | ||||||
Terreno Realty Corp. | 7,139 | 137,997 | ||||||
Texas Capital Bancshares, Inc.* | 3,783 | 204,093 | ||||||
UMB Financial Corp. | 4,010 | 254,194 | ||||||
Urstadt Biddle Pptys., Inc. Cl A | 6,149 | 128,391 | ||||||
ViewPoint Financial Group, Inc. | 2,630 | 70,773 | ||||||
Washington Prime Group, Inc.* | 2,034 | 38,117 | ||||||
Wells Fargo & Co. | 24,266 | 1,275,421 | ||||||
WisdomTree Investments, Inc.* | 9,948 | 122,957 | ||||||
Zions Bancorporation | 10,911 | 321,547 | ||||||
|
| |||||||
24,674,350 | ||||||||
|
| |||||||
HEALTH CARE (5.5%) | ||||||||
Abbott Laboratories | 11,794 | 482,375 | ||||||
Abiomed, Inc.* | 10,293 | 258,766 | ||||||
Acorda Therapeutics, Inc.* | 3,663 | 123,480 | ||||||
Alnylam Pharmaceuticals, Inc.* | 3,045 | 192,353 | ||||||
AmerisourceBergen Corp. | 1,763 | 128,100 | ||||||
Anika Therapeutics, Inc.* | 2,800 | 129,724 | ||||||
Biogen Idec, Inc.* | 1,703 | 536,973 | ||||||
BioScrip, Inc.* | 24,859 | 207,324 | ||||||
BioSpecifics Technologies Corp.* | 4,262 | 114,904 | ||||||
Bruker Corp.* | 6,413 | 155,644 | ||||||
Celgene Corp.* | 10,554 | 906,378 | ||||||
Cepheid, Inc.* | 3,522 | 168,845 | ||||||
Cerner Corp.* | 3,154 | 162,683 | ||||||
Computer Programs & Systems, Inc. | 3,234 | 205,682 | ||||||
Covidien PLC | 4,346 | 391,922 | ||||||
Cubist Pharmaceuticals, Inc.* | 4,319 | 301,553 | ||||||
Cyberonics, Inc.* | 3,297 | 205,931 | ||||||
DexCom, Inc.* | 7,366 | 292,136 | ||||||
Emergent Biosolutions, Inc.* | 11,770 | 264,354 | ||||||
Ensign Group, Inc. | 5,646 | 175,478 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Exact Sciences Corp.* | 12,562 | 213,931 | ||||||
Express Scripts Hldg. Co.* | 4,906 | 340,133 | ||||||
Forest Laboratories, Inc.* | 5,406 | 535,194 | ||||||
Gilead Sciences, Inc.* | 11,494 | 952,968 | ||||||
GW Pharmaceuticals PLC ADR* | 1,560 | 167,372 | ||||||
Harvard Bioscience, Inc.* | 34,460 | 156,793 | ||||||
HeartWare International, Inc.* | 1,074 | 95,049 | ||||||
Humana, Inc. | 1,730 | 220,956 | ||||||
Insulet Corp.* | 5,908 | 234,370 | ||||||
InterMune, Inc.* | 2,745 | 121,192 | ||||||
Isis Pharmaceuticals, Inc.* | 3,979 | 137,077 | ||||||
Karyopharm Therapeutics, Inc.* | 2,910 | 135,461 | ||||||
Kindred Healthcare, Inc. | 4,928 | 113,837 | ||||||
McKesson Corp. | 2,122 | 395,138 | ||||||
Medicines Co.* | 3,780 | 109,847 | ||||||
Medidata Solutions, Inc.* | 2,385 | 102,102 | ||||||
Medtronic, Inc. | 4,750 | 302,860 | ||||||
Merck & Co., Inc. | 17,492 | 1,011,912 | ||||||
MWI Veterinary Supply, Inc.* | 1,550 | 220,085 | ||||||
Mylan, Inc.* | 17,044 | 878,789 | ||||||
Neogen Corp.* | 3,466 | 140,269 | ||||||
Omeros Corp.* | 10,887 | 189,434 | ||||||
Omnicell, Inc.* | 7,645 | 219,488 | ||||||
OSI Pharmaceuticals, Inc. - rights* | 1,570 | 16 | ||||||
PAREXEL International Corp.* | 4,855 | 256,538 | ||||||
Pfizer, Inc. | 40,982 | 1,216,346 | ||||||
Pharmacyclics, Inc.* | 1,555 | 139,499 | ||||||
QLT, Inc.* | 46,314 | 286,221 | ||||||
Questcor Pharmaceuticals, Inc. | 1,675 | 154,921 | ||||||
Repros Therapeutics, Inc.* | 2,540 | 43,942 | ||||||
Rigel Pharmaceuticals, Inc.* | 8,280 | 30,056 | ||||||
Seattle Genetics, Inc.* | 2,741 | 104,843 | ||||||
Sorrento Therapeutics, Inc.* | 2,320 | 15,660 | ||||||
St. Jude Medical, Inc. | 4,232 | 293,066 | ||||||
Stryker Corp. | 5,568 | 469,494 | ||||||
Supernus Pharmaceuticals, Inc.* | 57,403 | 628,563 | ||||||
Synageva BioPharma Corp.* | 1,787 | 187,278 | ||||||
Team Health Hldgs., Inc.* | 3,540 | 176,788 | ||||||
TearLab Corp.* | 34,219 | 166,646 | ||||||
UnitedHealth Group, Inc. | 4,884 | 399,267 | ||||||
Universal American Corp. | 11,188 | 93,196 | ||||||
Vertex Pharmaceuticals, Inc.* | 2,106 | 199,396 | ||||||
WellCare Health Plans, Inc.* | 2,776 | 207,256 | ||||||
Wright Medical Group, Inc.* | 10,540 | 330,956 | ||||||
|
| |||||||
17,798,810 | ||||||||
|
| |||||||
INDUSTRIALS (5.0%) | ||||||||
Alaska Air Group, Inc. | 3,965 | 376,873 | ||||||
Allegiant Travel Co. | 1,998 | 235,304 | ||||||
Applied Industrial Technologies, Inc. | 3,995 | 202,666 | ||||||
Astronics Corp.* | 10,534 | 594,644 | ||||||
AZZ, Inc. | 14,088 | 649,175 | ||||||
Blount International, Inc.* | 23,365 | 329,680 | ||||||
Boeing Co. | 8,402 | 1,068,986 | ||||||
Corporate Executive Board Co. | 3,764 | 256,780 | ||||||
Cummins, Inc. | 4,266 | 658,201 | ||||||
Delta Air Lines, Inc. | 9,680 | 374,810 | ||||||
Deluxe Corp. | 3,813 | 223,366 | ||||||
Encore Wire Corp. | 6,763 | 331,658 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
EnPro Industries, Inc.* | 8,939 | 653,977 | ||||||
Expeditors Int’l. of Wash. | 7,837 | 346,082 | ||||||
FedEx Corp. | 4,275 | 647,150 | ||||||
General Electric Co. | 37,205 | 977,747 | ||||||
Healthcare Svcs. Group, Inc. | 5,633 | 165,836 | ||||||
Miller (Herman), Inc. | 5,350 | 161,784 | ||||||
Miller Industries, Inc. | 18,498 | 380,689 | ||||||
Mueller Industries, Inc. | 24,876 | 731,603 | ||||||
Mueller Water Product, Inc. Cl A | 27,281 | 235,708 | ||||||
NOW, Inc.* | 1,407 | 50,947 | ||||||
Old Dominion Freight Line, Inc.* | 9,177 | 584,391 | ||||||
On Assignment, Inc.* | 12,613 | 448,644 | ||||||
Orbital Sciences Corp.* | 11,677 | 345,055 | ||||||
Precision Castparts Corp. | 3,349 | 845,288 | ||||||
Raven Industries, Inc. | 11,555 | 382,933 | ||||||
Roper Industries, Inc. | 8,544 | 1,247,509 | ||||||
Saia, Inc.* | 6,857 | 301,228 | ||||||
Steelcase, Inc. | 11,600 | 175,508 | ||||||
Sun Hydraulics Corp. | 6,728 | 273,157 | ||||||
Teledyne Technologies, Inc.* | 3,036 | 295,008 | ||||||
Trex Co., Inc.* | 2,825 | 81,417 | ||||||
Tyco International Ltd. | 7,553 | 344,417 | ||||||
Union Pacific Corp. | 5,976 | 596,106 | ||||||
USG Corp.* | 5,677 | 171,048 | ||||||
UTI Worldwide, Inc. | 40,985 | 423,785 | ||||||
|
| |||||||
16,169,160 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (6.8%) | ||||||||
Analog Devices, Inc. | 6,016 | 325,285 | ||||||
Anixter International, Inc. | 5,461 | 546,482 | ||||||
Apple, Inc. | 30,065 | 2,793,939 | ||||||
ARRIS Group, Inc.* | 18,324 | 596,080 | ||||||
Aspen Technology, Inc.* | 3,219 | 149,362 | ||||||
Automatic Data Processing, Inc. | 5,099 | 404,249 | ||||||
Blackhawk Network Hldgs., Inc.* | 4,325 | 122,052 | ||||||
Blucora, Inc.* | 7,590 | 143,223 | ||||||
Brightcove, Inc.* | 23,685 | 249,640 | ||||||
Broadcom Corp. Cl A | 10,734 | 398,446 | ||||||
CalAmp Corp.* | 24,473 | 530,085 | ||||||
Cavium, Inc.* | 8,815 | 437,753 | ||||||
Cisco Systems, Inc. | 22,656 | 563,002 | ||||||
Coherent, Inc.* | 1,144 | 75,698 | ||||||
CommVault Systems, Inc.* | 4,086 | 200,909 | ||||||
comScore, Inc.* | 8,677 | 307,860 | ||||||
Conversant, Inc.* | 7,382 | 187,503 | ||||||
Cornerstone OnDemand, Inc.* | 3,468 | 159,597 | ||||||
Electronics for Imaging, Inc.* | 6,945 | 313,914 | ||||||
Emulex Corp.* | 21,362 | 121,763 | ||||||
F5 Networks, Inc.* | 1,456 | 162,257 | ||||||
Facebook, Inc. Cl A* | 8,137 | 547,539 | ||||||
FEI Company | 1,965 | 178,284 | ||||||
Fleetmatics Group PLC* | 3,305 | 106,884 | ||||||
Google, Inc. Cl A* | 1,134 | 663,016 | ||||||
Google, Inc. Cl C* | 1,134 | 652,368 | ||||||
iGATE Corp.* | 13,944 | 507,423 | ||||||
Imation Corp.* | 25,808 | 88,780 | ||||||
Imperva, Inc.* | 5,582 | 146,137 | ||||||
Informatica Corp.* | 4,972 | 177,252 | ||||||
KLA-Tencor Corp. | 3,288 | 238,840 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
LogMeIn, Inc.* | 11,916 | 555,524 | ||||||
Manhattan Associates, Inc.* | 3,245 | 111,725 | ||||||
MasterCard, Inc. Cl A | 6,470 | 475,351 | ||||||
MAXIMUS, Inc. | 5,290 | 227,576 | ||||||
MaxLinear, Inc. Cl A* | 19,620 | 197,573 | ||||||
Microsemi Corp.* | 5,464 | 146,217 | ||||||
Microsoft Corp. | 25,940 | 1,081,698 | ||||||
MKS Instruments, Inc. | 5,049 | 157,731 | ||||||
Monolithic Power Systems, Inc. | 13,679 | 579,306 | ||||||
Nanometrics, Inc.* | 17,131 | 312,641 | ||||||
NetApp, Inc. | 1,578 | 57,629 | ||||||
Nova Measuring Instruments Ltd.* | 9,440 | 113,374 | ||||||
Oracle Corp. | 16,326 | 661,693 | ||||||
Proofpoint, Inc.* | 12,443 | 466,115 | ||||||
PTC, Inc.* | 6,927 | 268,768 | ||||||
QLIK Technologies, Inc.* | 7,927 | 179,309 | ||||||
QUALCOMM, Inc. | 9,230 | 731,016 | ||||||
Richardson Electronics Ltd. | 41,100 | 430,317 | ||||||
Rogers Corp.* | 4,869 | 323,058 | ||||||
Salesforce.com, inc.* | 14,350 | 833,448 | ||||||
Synaptics, Inc.* | 4,295 | 389,299 | ||||||
SYNNEX Corp.* | 3,280 | 238,948 | ||||||
Teradata Corp.* | 4,773 | 191,875 | ||||||
Texas Instruments, Inc. | 7,484 | 357,660 | ||||||
TIBCO Software, Inc.* | 6,851 | 138,185 | ||||||
Ultimate Software Group, Inc.* | 1,029 | 142,177 | ||||||
Web.com Group, Inc.* | 2,900 | 83,723 | ||||||
WEX, Inc.* | 1,684 | 176,769 | ||||||
Yahoo!, Inc.* | 8,872 | 311,673 | ||||||
|
| |||||||
22,036,000 | ||||||||
|
| |||||||
MATERIALS (1.9%) | ||||||||
A. Schulman, Inc. | 7,090 | 274,383 | ||||||
Ball Corp. | 6,764 | 423,968 | ||||||
Boise Cascade Co.* | 5,257 | 150,560 | ||||||
Calgon Carbon Corp.* | 8,158 | 182,168 | ||||||
CF Industries Hldgs., Inc. | 1,241 | 298,498 | ||||||
Crown Hldgs., Inc.* | 9,179 | 456,747 | ||||||
CVR Partners LP | 13,512 | 252,539 | ||||||
Dow Chemical Co. | 9,095 | 468,029 | ||||||
Eastman Chemical Co. | 7,136 | 623,330 | ||||||
FMC Corp. | 2,046 | 145,655 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 9,277 | 338,611 | ||||||
Fuller (H.B.) Co. | 4,156 | 199,904 | ||||||
Horsehead Hldg. Corp.* | 10,673 | 194,889 | ||||||
Kaiser Aluminum Corp. | 6,996 | 509,799 | ||||||
Kraton Performance Polymers, Inc.* | 10,415 | 233,192 | ||||||
LSB Industries, Inc.* | 1,645 | 68,547 | ||||||
Resolute Forest Products* | 15,841 | 265,812 | ||||||
Schnitzer Steel Industries, Inc. Cl A | 9,443 | 246,179 | ||||||
Silgan Hldgs., Inc. | 5,741 | 291,758 | ||||||
Stepan Co. | 3,641 | 192,463 | ||||||
U.S. Concrete, Inc.* | 6,045 | 149,614 | ||||||
|
| |||||||
5,966,645 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||
AT&T, Inc. | 21,988 | 777,496 | ||||||
Consolidated Comms. Hldgs., Inc. | 13,721 | 305,155 | ||||||
IDT Corp. Cl B | 6,033 | 105,095 | ||||||
Verizon Communications, Inc. | 9,334 | 456,713 | ||||||
|
| |||||||
1,644,459 | ||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - ALL AMERICA FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
UTILITIES (1.3%) | ||||||||
Ameren Corp. | 2,498 | 102,118 | ||||||
Avista Corp. | 11,531 | 386,519 | ||||||
Black Hills Corp. | 3,668 | 225,179 | ||||||
Dominion Resources, Inc. | 7,773 | 555,925 | ||||||
Edison International | 4,496 | 261,263 | ||||||
Idacorp, Inc. | 5,966 | 345,014 | ||||||
Northwest Natural Gas Co. | 3,654 | 172,286 | ||||||
NorthWestern Corp. | 6,793 | 354,527 | ||||||
PNM Resources, Inc. | 9,870 | 289,487 | ||||||
Portland General Electric Co. | 5,961 | 206,668 | ||||||
PPL Corp. | 4,985 | 177,117 | ||||||
Public Svc. Enterprise Group, Inc. | 8,757 | 357,198 | ||||||
Sempra Energy | 4,089 | 428,159 | ||||||
UNS Energy Corp. | 5,393 | 325,791 | ||||||
|
| |||||||
4,187,251 | ||||||||
|
| |||||||
TOTAL ACTIVE ASSETS - COMMON STOCKS | 128,228,315 | |||||||
|
| |||||||
ACTIVE ASSETS: | ||||||||
CONVERTIBLE PREFERRED STOCKS: | ||||||||
ENERGY (0.0%) (3) | ||||||||
Energy XXI (Bermuda) Ltd., 7.25% | 556 | 143,755 | ||||||
|
| |||||||
TOTAL ACTIVE ASSETS - CONVERTIBLE PREFERRED STOCKS | 143,755 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
ACTIVE ASSETS: | ||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
COMMERCIAL PAPER (1.0%) | ||||||||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/18/14 | 1,000,000 | 999,853 | |||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/18/14 | 700,000 | 699,897 | |||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/19/14 | 1,000,000 | 999,850 | |||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.12 | 07/16/14 | 500,000 | 499,975 | |||||||||||
|
| |||||||||||||||
3,199,575 | ||||||||||||||||
|
| |||||||||||||||
TOTAL ACTIVE ASSETS - SHORT-TERM DEBT SECURITIES |
| 3,199,575 | ||||||||||||||
|
| |||||||||||||||
TOTAL ACTIVE ASSETS |
| 131,571,645 | ||||||||||||||
|
| |||||||||||||||
TEMPORARY CASH INVESTMENTS (2) |
| 1,215,000 | ||||||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS |
| 320,795,773 | ||||||||||||||
|
| |||||||||||||||
OTHER NET ASSETS 0.4% |
| 1,285,652 | ||||||||||||||
|
| |||||||||||||||
NET ASSETS 100.0% |
| $322,081,425 | ||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.8%) | ||||||||
Bassett Furniture Industries, Inc. | 332,583 | 4,376,792 | ||||||
Deckers Outdoor Corp.* | 11,060 | 954,810 | ||||||
Diamond Resorts Int’l., Inc.* | 288,981 | 6,724,588 | ||||||
Houghton Mifflin Harcourt Co.* | 220,073 | 4,216,599 | ||||||
Rent-A-Center, Inc. | 81,349 | 2,333,089 | ||||||
Ruby Tuesday, Inc.* | 350,720 | 2,661,965 | ||||||
Shutterfly, Inc.* | 56,556 | 2,435,301 | ||||||
The Men’s Wearhouse, Inc. | 38,431 | 2,144,450 | ||||||
ValueVision Media, Inc. Cl A* | 154,080 | 768,859 | ||||||
Wolverine World Wide, Inc. | 127,806 | 3,330,624 | ||||||
|
| |||||||
29,947,077 | ||||||||
|
| |||||||
CONSUMER STAPLES (3.1%) | ||||||||
Crimson Wine Group Ltd.* | 350,956 | 3,176,152 | ||||||
Farmer Brothers Co.* | 148,252 | 3,203,726 | ||||||
The Pantry, Inc.* | 206,504 | 3,345,365 | ||||||
Vector Group Ltd. | 107,317 | 2,219,316 | ||||||
|
| |||||||
11,944,559 | ||||||||
|
| |||||||
ENERGY (7.2%) | ||||||||
Carrizo Oil and Gas, Inc.* | 101,265 | 7,013,610 | ||||||
Emerald Oil, Inc.* | 345,286 | 2,641,438 | ||||||
Endeavour International Corp.* | 521,883 | 714,980 | ||||||
Energy XXI (Bermuda) Ltd. | 244,364 | 5,774,321 | ||||||
Gulf Coast Ultra Deep Royalty Trust* | 715,942 | 2,097,710 | ||||||
Helix Energy Solutions Group* | 88,177 | 2,319,937 | ||||||
PBF Energy, Inc. | 182,486 | 4,863,252 | ||||||
Stone Energy Corp.* | 52,160 | 2,440,566 | ||||||
|
| |||||||
27,865,814 | ||||||||
|
| |||||||
FINANCIALS (35.0%) | ||||||||
Agree Realty Corp. | 24,374 | 736,826 | ||||||
Alexander’s, Inc. | 3,440 | 1,270,977 | ||||||
Ashford Hospitality Prime, Inc | 52,638 | 903,268 | ||||||
Ashford Hospitality Trust, Inc. | 206,867 | 2,387,245 | ||||||
Aspen Insurance Hldgs. Ltd. | 62,380 | 2,833,300 | ||||||
BancFirst Corp. | 45,957 | 2,844,738 | ||||||
Bank of Marin Bancorp | 37,012 | 1,687,377 | ||||||
Banner Corp. | 75,099 | 2,976,173 | ||||||
Brookline Bancorp, Inc. | 294,597 | 2,760,374 | ||||||
Bryn Mawr Bank Corp. | 82,808 | 2,411,369 | ||||||
Cash America Int’l., Inc. | 34,206 | 1,519,773 | ||||||
Charter Financial Corp. | 103,340 | 1,147,074 | ||||||
Chatham Lodging Trust | 107,799 | 2,360,798 | ||||||
Chesapeake Lodging Trust | 132,737 | 4,012,640 | ||||||
Columbia Banking System, Inc. | 62,195 | 1,636,350 | ||||||
Customers Bancorp, Inc.* | 95,636 | 1,913,676 | ||||||
Dime Community Bancshares | 132,752 | 2,096,154 | ||||||
Eagle Bancorp, Inc.* | 47,338 | 1,597,658 | ||||||
EastGroup Properties, Inc. | 18,460 | 1,185,686 | ||||||
Ellington Financial LLC | 225,399 | 5,409,576 | ||||||
Enterprise Financial Svcs. Corp. | 85,290 | 1,540,337 | ||||||
Equity Lifestyle Properties, Inc. | 51,947 | 2,293,980 | ||||||
FBR & Co.* | 41,524 | 1,126,546 | ||||||
FelCor Lodging Trust, Inc. | 452,871 | 4,759,674 | ||||||
First Interstate BancSytem, Inc. | 127,917 | 3,476,784 | ||||||
Flushing Financial Corp. | 82,056 | 1,686,251 | ||||||
Forest City Enterprises, Inc. Cl A* | 214,248 | 4,257,108 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Geo Group, Inc.* | 51,568 | 1,842,525 | ||||||
Glacier Bancorp, Inc. | 141,273 | 4,009,328 | ||||||
Hanmi Financial Corp. | 49,587 | 1,045,294 | ||||||
Highwoods Properties, Inc. | 85,935 | 3,604,973 | ||||||
Home Loan Servicing Solutions Ltd. | 83,920 | 1,907,502 | ||||||
Investors Bancorp, Inc. | 288,032 | 3,182,754 | ||||||
Janus Capital Group, Inc. | 244,221 | 3,047,878 | ||||||
Marlin Business Svcs. Corp. | 139,705 | 2,541,234 | ||||||
MB Financial, Inc. | 117,452 | 3,177,077 | ||||||
Meadowbrook Insurance Group, Inc. | 440,568 | 3,167,684 | ||||||
Northfield Bancorp, Inc. | 201,707 | 2,644,379 | ||||||
Parkway Properties, Inc. | 76,989 | 1,589,823 | ||||||
Pennsylvania REIT | 123,472 | 2,323,743 | ||||||
PrivateBancorp, Inc. | 108,758 | 3,160,507 | ||||||
ProAssurance Corp. | 75,802 | 3,365,609 | ||||||
Prosperity Bancshares, Inc. | 54,395 | 3,405,127 | ||||||
Select Income REIT | 139,884 | 4,146,162 | ||||||
Selective Insurance Group, Inc. | 69,320 | 1,713,590 | ||||||
Sovran Self Storage, Inc. | 17,091 | 1,320,280 | ||||||
Stock Yards Bancorp, Inc. | 108,349 | 3,239,635 | ||||||
SVB Financial Group* | 46,230 | 5,391,343 | ||||||
Symetra Financial Corp. | 222,707 | 5,064,357 | ||||||
Terreno Realty Corp. | 82,970 | 1,603,810 | ||||||
UMB Financial Corp. | 48,713 | 3,087,917 | ||||||
Urstadt Biddle Pptys., Inc. Cl A | 74,959 | 1,565,144 | ||||||
ViewPoint Financial Group, Inc. | 30,440 | 819,140 | ||||||
|
| |||||||
134,798,527 | ||||||||
|
| |||||||
HEALTH CARE (4.5%) | ||||||||
Computer Programs & Systems, Inc. | 37,896 | 2,410,186 | ||||||
Ensign Group, Inc. | 22,203 | 690,069 | ||||||
Harvard Bioscience, Inc.* | 346,235 | 1,575,369 | ||||||
Kindred Healthcare, Inc. | 58,785 | 1,357,934 | ||||||
QLT, Inc.* | 517,222 | 3,196,432 | ||||||
Rigel Pharmaceuticals, Inc.* | 96,050 | 348,662 | ||||||
Supernus Pharmaceuticals, Inc.* | 325,058 | 3,559,385 | ||||||
TearLab Corp.* | 240,598 | 1,171,712 | ||||||
Universal American Corp. | 132,999 | 1,107,882 | ||||||
Wright Medical Group, Inc.* | 61,290 | 1,924,506 | ||||||
|
| |||||||
17,342,137 | ||||||||
|
| |||||||
INDUSTRIALS (13.1%) | ||||||||
Alaska Air Group, Inc. | 47,214 | 4,487,691 | ||||||
AZZ, Inc. | 97,385 | 4,487,501 | ||||||
Blount International, Inc.* | 266,123 | 3,754,996 | ||||||
Deluxe Corp. | 43,443 | 2,544,891 | ||||||
Encore Wire Corp. | 77,117 | 3,781,818 | ||||||
EnPro Industries, Inc.* | 52,160 | 3,816,026 | ||||||
Miller Industries, Inc. | 213,048 | 4,384,528 | ||||||
Mueller Industries, Inc. | 269,326 | 7,920,873 | ||||||
Old Dominion Freight Line, Inc.* | 104,509 | 6,655,133 | ||||||
Orbital Sciences Corp.* | 135,223 | 3,995,840 | ||||||
Steelcase, Inc. | 132,080 | 1,998,370 | ||||||
UTI Worldwide, Inc. | 276,750 | 2,861,595 | ||||||
|
| |||||||
50,689,262 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (9.5%) | ||||||||
Anixter International, Inc. | 32,844 | 3,286,699 | ||||||
ARRIS Group, Inc.* | 82,342 | 2,678,585 | ||||||
Blucora, Inc.* | 88,040 | 1,661,315 | ||||||
CalAmp Corp.* | 109,570 | 2,373,286 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Coherent, Inc.* | 13,198 | 873,312 | ||||||||
Emulex Corp.* | 247,951 | 1,413,321 | ||||||||
iGATE Corp.* | 29,030 | 1,056,402 | ||||||||
Imation Corp.* | 299,581 | 1,030,559 | ||||||||
LogMeIn, Inc.* | 59,150 | 2,757,573 | ||||||||
Microsemi Corp.* | 63,263 | 1,692,918 | ||||||||
MKS Instruments, Inc. | 58,544 | 1,828,915 | ||||||||
Monolithic Power Systems, Inc. | 60,948 | 2,581,148 | ||||||||
Nanometrics, Inc.* | 117,043 | 2,136,035 | ||||||||
Nova Measuring Instruments Ltd.* | 109,450 | 1,314,495 | ||||||||
Proofpoint, Inc.* | 59,480 | 2,228,121 | ||||||||
Richardson Electronics Ltd. | 468,314 | 4,903,248 | ||||||||
SYNNEX Corp.* | 38,510 | 2,805,454 | ||||||||
|
| |||||||||
36,621,386 | ||||||||||
|
| |||||||||
MATERIALS (6.6%) | ||||||||||
Boise Cascade Co.* | 59,967 | 1,717,455 | ||||||||
Crown Hldgs., Inc.* | 106,372 | 5,293,071 | ||||||||
Horsehead Hldg. Corp.* | 125,523 | 2,292,050 | ||||||||
Kaiser Aluminum Corp. | 83,329 | 6,072,184 | ||||||||
Kraton Performance Polymers, Inc.* | 124,452 | 2,786,480 | ||||||||
LSB Industries, Inc.* | 18,630 | 776,312 | ||||||||
Schnitzer Steel Industries, Inc. Cl A | 112,576 | 2,934,856 | ||||||||
Silgan Hldgs., Inc. | 66,468 | 3,377,904 | ||||||||
|
| |||||||||
25,250,312 | ||||||||||
|
| |||||||||
TELECOMMUNICATION SERVICES (0.8%) | ||||||||||
Consolidated Comms. Hldgs., Inc. | 75,977 | 1,689,728 | ||||||||
IDT Corp. Cl B | 69,950 | 1,218,529 | ||||||||
|
| |||||||||
2,908,257 | ||||||||||
|
| |||||||||
UTILITIES (6.3%) | ||||||||||
Avista Corp. | 132,659 | 4,446,730 | ||||||||
Black Hills Corp. | 43,744 | 2,685,444 | ||||||||
Idacorp, Inc. | 68,661 | 3,970,666 | ||||||||
Northwest Natural Gas Co. | 42,020 | 1,981,243 | ||||||||
NorthWestern Corp. | 28,318 | 1,477,916 | ||||||||
PNM Resources, Inc. | 117,820 | 3,455,661 | ||||||||
Portland General Electric Co. | 71,052 | 2,463,373 | ||||||||
UNS Energy Corp. | 64,348 | 3,887,263 | ||||||||
|
| |||||||||
24,368,296 | ||||||||||
|
| |||||||||
TOTAL COMMON STOCKS | 361,735,627 | |||||||||
|
| |||||||||
CONVERTIBLE PREFERRED STOCKS: | ||||||||||
ENERGY (0.3%) | ||||||||||
Energy XXI (Bermuda) Ltd., 7.25% | 4,255 | 1,100,139 | ||||||||
|
| |||||||||
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,100,139 | |||||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||||||
COMMERCIAL PAPER (5.6%) | ||||||||||||||||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | 9,000,000 | 9,000,000 | |||||||||||||||||
Precision Castparts Corp.† | A-1 | 0.08 | 07/23/14 | 1,900,000 | 1,899,907 | |||||||||||||||||
Questar Corp.† | A-1 | 0.09 | 07/11/14 | 1,400,000 | 1,399,965 | |||||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 9,200,000 | 9,200,000 | |||||||||||||||||
|
| |||||||||||||||||||||
21,499,872 | ||||||||||||||||||||||
|
| |||||||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES |
| 21,499,872 | ||||||||||||||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
TOTAL INVESTMENTS | 384,335,638 | |||||||||||||||
|
| |||||||||||||||
OTHER NET ASSETS 0.2% | 616,559 | |||||||||||||||
|
| |||||||||||||||
NET ASSETS 100.0% | $384,952,197 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP GROWTH FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
CONSUMER DISCRETIONARY (14.3%) | ||||||||||
Aeropostale, Inc.* | 459,999 | 1,605,397 | ||||||||
American Axle & Mfg. Hldgs., Inc.* | 108,184 | 2,043,596 | ||||||||
Bally Technologies, Inc.* | 52,785 | 3,469,030 | ||||||||
Brunswick Corp. | 33,388 | 1,406,636 | ||||||||
Carmike Cinemas, Inc.* | 80,863 | 2,840,717 | ||||||||
Cooper Tire & Rubber Co. | 97,600 | 2,928,000 | ||||||||
Deckers Outdoor Corp.* | 77,812 | 6,717,510 | ||||||||
Diamond Resorts Int’l., Inc.* | 122,975 | 2,861,628 | ||||||||
Dorman Products, Inc.* | 34,297 | 1,691,528 | ||||||||
Drew Industries, Inc. | 60,115 | 3,006,351 | ||||||||
Haverty Furniture Cos., Inc. | 138,843 | 3,489,125 | ||||||||
Houghton Mifflin Harcourt Co.* | 146,928 | 2,815,140 | ||||||||
HSN, Inc. | 38,386 | 2,273,987 | ||||||||
Popeyes Louisiana Kitchen, Inc.* | 179,155 | 7,830,861 | ||||||||
Red Robin Gourmet Burgers, Inc.* | 55,712 | 3,966,694 | ||||||||
Select Comfort Corp.* | 99,844 | 2,062,777 | ||||||||
Shutterfly, Inc.* | 28,911 | 1,244,908 | ||||||||
Sotheby’s | 39,818 | 1,671,958 | ||||||||
Steve Madden Ltd.* | 103,299 | 3,543,156 | ||||||||
|
| |||||||||
57,468,999 | ||||||||||
|
| |||||||||
CONSUMER STAPLES (4.4%) | ||||||||||
Boston Beer Co., Inc. Cl A* | 3,853 | 861,223 | ||||||||
Darling Ingredients Inc.* | 122,765 | 2,565,789 | ||||||||
Hain Celestial Group, Inc.* | 36,512 | 3,240,075 | ||||||||
Spectrum Brands Hldgs., Inc. | 33,292 | 2,864,111 | ||||||||
Susser Hldgs. Corp.* | 50,347 | 4,064,010 | ||||||||
TreeHouse Foods, Inc.* | 26,449 | 2,117,771 | ||||||||
Village Super Market, Inc. Cl A | 77,228 | 1,824,898 | ||||||||
|
| |||||||||
17,537,877 | ||||||||||
|
| |||||||||
ENERGY (5.6%) | ||||||||||
Basic Energy Services, Inc.* | 75,772 | 2,214,058 | ||||||||
Kodiak Oil & Gas Corp.* | 212,043 | 3,085,226 | ||||||||
Matador Resources Co.* | 90,290 | 2,643,691 | ||||||||
PBF Energy, Inc. | 80,377 | 2,142,047 | ||||||||
Sanchez Energy Corp.* | 77,058 | 2,896,610 | ||||||||
Synergy Resources Corp.* | 158,395 | 2,098,734 | ||||||||
Targa Resources Corp. | 34,985 | 4,882,856 | ||||||||
Western Refining, Inc. | 70,652 | 2,652,983 | ||||||||
|
| |||||||||
22,616,205 | ||||||||||
|
| |||||||||
FINANCIALS (7.8%) | ||||||||||
American Assets Trust, Inc. | 68,243 | 2,357,796 | ||||||||
Cousins Properties, Inc. | 175,575 | 2,185,909 | ||||||||
Health Insurance Innovations, Inc. Cl A* | 136,353 | 1,679,869 | ||||||||
Investors Bancorp, Inc. | 179,180 | 1,979,939 | ||||||||
iShares Micro-Cap ETF | 33,161 | 2,524,215 | ||||||||
iShares Russell 2000 Growth ETF | 12,500 | 1,730,250 | ||||||||
Primerica, Inc. | 55,825 | 2,671,226 | ||||||||
PS Business Parks, Inc. | 26,474 | 2,210,314 | ||||||||
Sabra Health Care REIT, Inc. | 96,028 | 2,756,964 | ||||||||
Silvercrest Asset Mgmt. Group, Inc. Cl A | 119,872 | 2,062,997 | ||||||||
Starwood Property Trust, Inc. | 92,576 | 2,200,532 | ||||||||
Stifel Financial Corp.* | 59,787 | 2,830,914 | ||||||||
Texas Capital Bancshares, Inc.* | 46,446 | 2,505,762 | ||||||||
WisdomTree Investments, Inc.* | 120,923 | 1,494,608 | ||||||||
|
| |||||||||
31,191,295 | ||||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP GROWTH FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
HEALTH CARE (19.8%) | ||||||||||
Abiomed, Inc.* | 124,494 | 3,129,779 | ||||||||
Acorda Therapeutics, Inc.* | 45,025 | 1,517,793 | ||||||||
Alnylam Pharmaceuticals, Inc.* | 37,464 | 2,366,601 | ||||||||
Anika Therapeutics, Inc.* | 34,504 | 1,598,570 | ||||||||
BioScrip, Inc.* | 324,745 | 2,708,373 | ||||||||
BioSpecifics Technologies Corp.* | 50,939 | 1,373,315 | ||||||||
Bruker Corp.* | 84,268 | 2,045,184 | ||||||||
Cepheid, Inc.* | 43,784 | 2,099,005 | ||||||||
Cubist Pharmaceuticals, Inc.* | 55,234 | 3,856,438 | ||||||||
Cyberonics, Inc.* | 41,402 | 2,585,969 | ||||||||
DexCom, Inc.* | 88,032 | 3,491,349 | ||||||||
Emergent Biosolutions, Inc.* | 145,010 | 3,256,925 | ||||||||
Ensign Group, Inc. | 48,035 | 1,492,928 | ||||||||
Exact Sciences Corp.* | 156,974 | 2,673,267 | ||||||||
GW Pharmaceuticals PLC ADR* | 18,727 | 2,009,220 | ||||||||
HeartWare International, Inc.* | 13,046 | 1,154,571 | ||||||||
Insulet Corp.* | 73,059 | 2,898,251 | ||||||||
InterMune, Inc.* | 33,631 | 1,484,809 | ||||||||
Isis Pharmaceuticals, Inc.* | 49,013 | 1,688,498 | ||||||||
Karyopharm Therapeutics, Inc.* | 35,835 | 1,668,119 | ||||||||
Medicines Co.* | 46,429 | 1,349,227 | ||||||||
Medidata Solutions, Inc.* | 29,405 | 1,258,828 | ||||||||
MWI Veterinary Supply, Inc.* | 19,581 | 2,780,306 | ||||||||
Neogen Corp.* | 43,552 | 1,762,549 | ||||||||
Omeros Corp.* | 133,589 | 2,324,449 | ||||||||
Omnicell, Inc.* | 94,219 | 2,705,027 | ||||||||
PAREXEL International Corp.* | 60,178 | 3,179,806 | ||||||||
Pharmacyclics, Inc.* | 18,958 | 1,700,722 | ||||||||
Questcor Pharmaceuticals, Inc. | 21,100 | 1,951,539 | ||||||||
Repros Therapeutics, Inc.* | 31,086 | 537,788 | ||||||||
Seattle Genetics, Inc.* | 33,279 | 1,272,922 | ||||||||
Sorrento Therapeutics, Inc.* | 28,588 | 192,969 | ||||||||
Supernus Pharmaceuticals, Inc.* | 355,272 | 3,890,228 | ||||||||
Synageva BioPharma Corp.* | 22,066 | 2,312,517 | ||||||||
Team Health Hldgs., Inc.* | 43,688 | 2,181,779 | ||||||||
TearLab Corp.* | 169,516 | 825,543 | ||||||||
WellCare Health Plans, Inc.* | 34,476 | 2,573,978 | ||||||||
Wright Medical Group, Inc.* | 63,562 | 1,995,847 | ||||||||
|
| |||||||||
79,894,988 | ||||||||||
|
| |||||||||
INDUSTRIALS (14.1%) | ||||||||||
Allegiant Travel Co. | 25,697 | 3,026,336 | ||||||||
Applied Industrial Technologies, Inc. | 49,210 | 2,496,423 | ||||||||
Astronics Corp.* | 132,510 | 7,480,190 | ||||||||
AZZ, Inc. | 71,695 | 3,303,706 | ||||||||
Corporate Executive Board Co. | 45,178 | 3,082,043 | ||||||||
EnPro Industries, Inc.* | 53,028 | 3,879,528 | ||||||||
Healthcare Svcs. Group, Inc. | 68,384 | 2,013,225 | ||||||||
Miller (Herman), Inc. | 65,669 | 1,985,831 | ||||||||
Mueller Water Product, Inc. Cl A | 343,027 | 2,963,753 | ||||||||
On Assignment, Inc.* | 155,355 | 5,525,977 | ||||||||
Raven Industries, Inc. | 145,919 | 4,835,756 | ||||||||
Saia, Inc.* | 84,570 | 3,715,160 | ||||||||
Sun Hydraulics Corp. | 82,624 | 3,354,534 | ||||||||
Teledyne Technologies, Inc.* | 37,860 | 3,678,856 | ||||||||
Trex Co., Inc.* | 34,475 | 993,570 | ||||||||
USG Corp.* | 69,876 | 2,105,364 | ||||||||
UTI Worldwide, Inc. | 205,376 | 2,123,588 | ||||||||
|
| |||||||||
56,563,840 | ||||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP GROWTH FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
INFORMATION TECHNOLOGY (22.5%) | ||||||||||
Anixter International, Inc. | 31,923 | 3,194,535 | ||||||||
ARRIS Group, Inc.* | 135,710 | 4,414,646 | ||||||||
Aspen Technology, Inc.* | 40,158 | 1,863,331 | ||||||||
Blackhawk Network Hldgs., Inc.* | 50,301 | 1,419,494 | ||||||||
Brightcove, Inc.* | 285,797 | 3,012,300 | ||||||||
CalAmp Corp.* | 188,577 | 4,084,578 | ||||||||
Cavium, Inc.* | 109,325 | 5,429,080 | ||||||||
CommVault Systems, Inc.* | 50,157 | 2,466,220 | ||||||||
comScore, Inc.* | 106,102 | 3,764,499 | ||||||||
Conversant, Inc.* | 90,806 | 2,306,472 | ||||||||
Cornerstone OnDemand, Inc.* | 43,205 | 1,988,294 | ||||||||
Electronics for Imaging, Inc.* | 79,508 | 3,593,762 | ||||||||
FEI Company | 23,887 | 2,167,268 | ||||||||
Fleetmatics Group PLC* | 38,757 | 1,253,401 | ||||||||
iGATE Corp.* | 138,854 | 5,052,897 | ||||||||
Imperva, Inc.* | 68,243 | 1,786,602 | ||||||||
Informatica Corp.* | 61,879 | 2,205,986 | ||||||||
LogMeIn, Inc.* | 81,742 | 3,810,812 | ||||||||
Manhattan Associates, Inc.* | 39,980 | 1,376,511 | ||||||||
MAXIMUS, Inc. | 63,922 | 2,749,924 | ||||||||
MaxLinear, Inc. Cl A* | 245,591 | 2,473,101 | ||||||||
Monolithic Power Systems, Inc. | 106,802 | 4,523,065 | ||||||||
Nanometrics, Inc.* | 90,719 | 1,655,622 | ||||||||
Proofpoint, Inc.* | 89,110 | 3,338,061 | ||||||||
PTC, Inc.* | 84,881 | 3,293,383 | ||||||||
QLIK Technologies, Inc.* | 95,855 | 2,168,240 | ||||||||
Rogers Corp.* | 58,271 | 3,866,281 | ||||||||
Synaptics, Inc.* | 53,556 | 4,854,316 | ||||||||
TIBCO Software, Inc.* | 84,110 | 1,696,499 | ||||||||
Ultimate Software Group, Inc.* | 12,786 | 1,766,642 | ||||||||
Web.com Group, Inc.* | 35,728 | 1,031,467 | ||||||||
WEX, Inc.* | 20,366 | 2,137,819 | ||||||||
|
| |||||||||
90,745,108 | ||||||||||
|
| |||||||||
MATERIALS (4.7%) | ||||||||||
A. Schulman, Inc. | 86,648 | 3,353,278 | ||||||||
Calgon Carbon Corp.* | 99,018 | 2,211,072 | ||||||||
CVR Partners LP | 169,716 | 3,171,992 | ||||||||
Fuller (H.B.) Co. | 51,173 | 2,461,421 | ||||||||
Resolute Forest Products* | 192,454 | 3,229,378 | ||||||||
Stepan Co. | 45,715 | 2,416,495 | ||||||||
U.S. Concrete, Inc.* | 74,270 | 1,838,183 | ||||||||
|
| |||||||||
18,681,819 | ||||||||||
|
| |||||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||||
Consolidated Comms. Hldgs., Inc. | 87,775 | 1,952,116 | ||||||||
|
| |||||||||
UTILITIES (0.7%) | ||||||||||
NorthWestern Corp. | 52,778 | 2,754,484 | ||||||||
|
| |||||||||
TOTAL COMMON STOCKS | 379,406,731 | |||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - SMALL CAP GROWTH FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||||
COMMERCIAL PAPER (5.5%) | ||||||||||||||||||||
Dover Corp.† | A-1 | 0.07 | 07/01/14 | 5,200,000 | 5,200,000 | |||||||||||||||
National Rural Utilities | A-1 | 0.09 | 07/15/14 | 4,700,000 | 4,699,835 | |||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 5,300,000 | 5,300,000 | |||||||||||||||
Wal-Mart Stores, Inc.† | A-1+ | 0.06 | 07/31/14 | 7,000,000 | 6,999,650 | |||||||||||||||
|
| |||||||||||||||||||
22,199,485 | ||||||||||||||||||||
|
| |||||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 22,199,485 | |||||||||||||||||||
|
| |||||||||||||||||||
TOTAL INVESTMENTS | 401,606,216 | |||||||||||||||||||
|
| |||||||||||||||||||
OTHER NET ASSETS 0.1% | 488,355 | |||||||||||||||||||
|
| |||||||||||||||||||
NET ASSETS 100.0% | $402,094,571 | |||||||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.6%) | ||||||||
Abercrombie & Fitch Co. Cl A | 6,618 | 286,229 | ||||||
Deckers Outdoor Corp.* | 2,527 | 218,156 | ||||||
Diamond Resorts Int’l., Inc.* | 46,929 | 1,092,038 | ||||||
Dillard’s, Inc. Cl A | 6,952 | 810,673 | ||||||
Discovery Communications, Inc. Cl A* | 4,308 | 319,998 | ||||||
Liberty Interactive Corp. Cl A* | 13,970 | 410,159 | ||||||
Macy’s, Inc. | 7,320 | 424,706 | ||||||
Newell Rubbermaid, Inc. | 29,569 | 916,343 | ||||||
Rent-A-Center, Inc. | 11,758 | 337,219 | ||||||
Shutterfly, Inc.* | 5,236 | 225,462 | ||||||
Taylor Morrison Home Corp. Cl A* | 20,350 | 456,247 | ||||||
TRW Automotive Hldgs. Corp.* | 7,775 | 696,018 | ||||||
Wiley (John) & Sons, Inc. Cl A | 7,240 | 438,672 | ||||||
|
| |||||||
6,631,920 | ||||||||
|
| |||||||
CONSUMER STAPLES (3.6%) | ||||||||
ConAgra Foods, Inc. | 17,804 | 528,423 | ||||||
Constellation Brands, Inc. Cl A* | 6,620 | 583,421 | ||||||
Energizer Hldgs., Inc. | 6,326 | 771,962 | ||||||
Hillshire Brands Co. | 13,730 | 855,379 | ||||||
Vector Group Ltd. | 20,740 | 428,903 | ||||||
|
| |||||||
3,168,088 | ||||||||
|
| |||||||
ENERGY (7.6%) | ||||||||
Atwood Oceanics, Inc.* | 7,153 | 375,389 | ||||||
Cameron International Corp.* | 6,801 | 460,496 | ||||||
Denbury Resources, Inc. | 31,012 | 572,482 | ||||||
Energy XXI (Bermuda) Ltd. | 38,999 | 921,546 | ||||||
MarkWest Energy Partners LP | 5,082 | 363,770 | ||||||
Noble Energy, Inc. | 26,091 | 2,021,009 | ||||||
PBF Energy, Inc. | 20,107 | 535,852 | ||||||
SandRidge Energy, Inc.* | 71,258 | 509,495 | ||||||
Tesoro Corp. | 16,071 | 942,886 | ||||||
|
| |||||||
6,702,925 | ||||||||
|
| |||||||
FINANCIALS (30.7%) | ||||||||
Alexander’s, Inc. | 714 | 263,802 | ||||||
American Financial Group, Inc. | 25,832 | 1,538,554 | ||||||
Ameriprise Financial, Inc. | 13,756 | 1,650,720 | ||||||
Annaly Capital Mgmt., Inc.* | 28,254 | 322,943 | ||||||
Aon PLC | 9,319 | 839,549 | ||||||
Associated Banc-Corp. | 40,187 | 726,581 | ||||||
Assurant, Inc. | 4,061 | 266,199 | ||||||
BOK Financial Corp. | 8,990 | 598,734 | ||||||
Brandywine Realty Trust | 37,145 | 579,462 | ||||||
CBL & Associates Pptys., Inc. | 35,837 | 680,903 | ||||||
CIT Group, Inc. | 9,170 | 419,619 | ||||||
City National Corp. | 3,620 | 274,251 | ||||||
Comerica, Inc. | 13,337 | 668,984 | ||||||
DDR Corp. | 22,425 | 395,353 | ||||||
Discover Financial Svcs. | 14,717 | 912,160 | ||||||
Duke Realty Corp. | 40,964 | 743,906 | ||||||
E*Trade Financial Corp.* | 22,469 | 477,691 | ||||||
Equity Lifestyle Properties, Inc. | 10,977 | 484,744 | ||||||
Everest Re Group Ltd. | 3,948 | 633,615 | ||||||
Fifth Third Bancorp | 37,386 | 798,191 | ||||||
First Niagara Financial Group, Inc. | 64,348 | 562,402 | ||||||
Hartford Financial Svcs. Group, Inc. | 22,989 | 823,236 | ||||||
Health Care REIT, Inc. | 7,400 | 463,758 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Highwoods Properties, Inc. | 5,370 | 225,272 | ||||||
Home Properties, Inc. | 11,552 | 738,866 | ||||||
Host Hotels & Resorts, Inc. | 39,475 | 868,845 | ||||||
Howard Hughes Corp.* | 1,952 | 308,084 | ||||||
Huntington Bancshares, Inc. | 32,590 | 310,909 | ||||||
iShares Russell Mid-Cap Value ETF | 11,940 | 866,963 | ||||||
KeyCorp | 62,787 | 899,738 | ||||||
Kilroy Realty Corp. | 6,993 | 435,524 | ||||||
Lincoln National Corp. | 16,874 | 867,999 | ||||||
Progressive Corp. | 19,008 | 482,043 | ||||||
ProLogis, Inc. | 15,744 | 646,921 | ||||||
Reinsurance Grp. of America, Inc. | 9,913 | 782,136 | ||||||
RLJ Lodging Trust | 23,194 | 670,075 | ||||||
Starwood Property Trust, Inc. | 10,094 | 239,934 | ||||||
SVB Financial Group* | 4,044 | 471,611 | ||||||
Vornado Realty Trust | 11,270 | 1,202,847 | ||||||
Voya Financial, Inc. | 21,972 | 798,462 | ||||||
Weingarten Realty Investors | 11,959 | 392,734 | ||||||
Weyerhaeuser Co. | 12,640 | 418,258 | ||||||
Zions Bancorporation | 6,358 | 187,370 | ||||||
|
| |||||||
26,939,948 | ||||||||
|
| |||||||
HEALTH CARE (8.7%) | ||||||||
Agilent Technologies, Inc. | 12,889 | 740,344 | ||||||
Boston Scientific Corp.* | 59,623 | 761,386 | ||||||
Cardinal Health, Inc. | 9,818 | 673,122 | ||||||
CareFusion Corp.* | 9,418 | 417,688 | ||||||
CIGNA Corp. | 9,029 | 830,397 | ||||||
HCA Hldgs., Inc.* | 16,207 | 913,751 | ||||||
Hospira, Inc.* | 10,680 | 548,632 | ||||||
Humana, Inc. | 8,003 | 1,022,143 | ||||||
MEDNAX, Inc.* | 10,063 | 585,163 | ||||||
Mylan, Inc.* | 10,199 | 525,860 | ||||||
Zimmer Hldgs., Inc. | 6,023 | 625,549 | ||||||
|
| |||||||
7,644,035 | ||||||||
|
| |||||||
INDUSTRIALS (9.7%) | ||||||||
Alaska Air Group, Inc. | 6,109 | 580,660 | ||||||
AZZ, Inc. | 4,990 | 229,939 | ||||||
Carlisle Cos., Inc. | 6,100 | 528,382 | ||||||
Delta Air Lines, Inc. | 12,380 | 479,354 | ||||||
Genesee & Wyoming, Inc. Cl A* | 4,347 | 456,435 | ||||||
Joy Global, Inc. | 10,347 | 637,168 | ||||||
L-3 Communications Hldgs., Inc. | 7,263 | 877,007 | ||||||
Old Dominion Freight Line, Inc.* | 15,788 | 1,005,380 | ||||||
Orbital Sciences Corp.* | 17,301 | 511,245 | ||||||
Oshkosh Corp. | 19,946 | 1,107,601 | ||||||
Snap-on, Inc. | 3,601 | 426,791 | ||||||
Triumph Group, Inc. | 15,905 | 1,110,487 | ||||||
United Rentals, Inc.* | 5,342 | 559,468 | ||||||
|
| |||||||
8,509,917 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.7%) | ||||||||
Analog Devices, Inc. | 8,232 | 445,104 | ||||||
Avago Technologies Ltd. | 8,861 | 638,612 | ||||||
Avnet, Inc. | 14,598 | 646,837 | ||||||
Broadcom Corp. Cl A | 14,180 | 526,362 | ||||||
Brocade Communications Systems, Inc. | 27,898 | 256,662 | ||||||
CA, Inc. | 23,464 | 674,355 | ||||||
Computer Sciences Corp. | 10,381 | 656,079 | ||||||
F5 Networks, Inc.* | 3,315 | 369,424 | ||||||
Fidelity Nat’l. Information Svcs., Inc. | 8,000 | 437,920 | ||||||
Harris Corp. | 5,691 | 431,093 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID CAP VALUE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
KLA-Tencor Corp. | 5,951 | 432,281 | ||||||
Lam Research Corp. | 6,866 | 464,004 | ||||||
Marvell Technology Group | 29,390 | 421,159 | ||||||
MICROS Systems, Inc.* | 3,417 | 232,014 | ||||||
Symantec Corp. | 21,129 | 483,854 | ||||||
Trimble Navigation Ltd.* | 23,756 | 877,784 | ||||||
Western Digital Corp. | 10,024 | 925,215 | ||||||
Xerox Corp. | 35,975 | 447,529 | ||||||
|
| |||||||
9,366,288 | ||||||||
|
| |||||||
MATERIALS (7.3%) | ||||||||
CF Industries Hldgs., Inc. | 2,346 | 564,283 | ||||||
Crown Hldgs., Inc.* | 48,458 | 2,411,265 | ||||||
Eastman Chemical Co. | 12,070 | 1,054,315 | ||||||
International Paper Co. | 12,219 | 616,693 | ||||||
Packaging Corp. of America | 11,310 | 808,552 | ||||||
RPM International, Inc. | 10,198 | 470,944 | ||||||
Westlake Chemical Corp. | 5,461 | 457,413 | ||||||
|
| |||||||
6,383,465 | ||||||||
|
| |||||||
UTILITIES (10.7%) | ||||||||
Ameren Corp. | 25,140 | 1,027,723 | ||||||
Atmos Energy Corp. | 14,668 | 783,271 | ||||||
Edison International | 24,772 | 1,439,501 | ||||||
Entergy Corp. | 7,196 | 590,720 | ||||||
FirstEnergy Corp. | 15,924 | 552,881 | ||||||
Great Plains Energy, Inc. | 31,538 | 847,426 | ||||||
ITC Hldgs. Corp. | 19,761 | 720,881 | ||||||
Northeast Utilities | 8,802 | 416,071 | ||||||
PPL Corp. | 23,713 | 842,523 | ||||||
Public Svc. Enterprise Group, Inc. | 21,550 | 879,025 | ||||||
Sempra Energy | 7,610 | 796,843 | ||||||
Westar Energy, Inc. | 11,419 | 436,092 | ||||||
|
| |||||||
9,332,957 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 84,679,543 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||||||
COMMERCIAL PAPER (1.6%) | ||||||||||||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | 600,000 | 599,930 | |||||||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/08/14 | 800,000 | 799,847 | |||||||||||||||
|
| |||||||||||||||||||
1,399,777 | ||||||||||||||||||||
|
| |||||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 1,399,777 | |||||||||||||||||||
|
| |||||||||||||||||||
TOTAL INVESTMENTS | 86,079,320 | |||||||||||||||||||
|
| |||||||||||||||||||
OTHER NET ASSETS 1.8% | 1,573,442 | |||||||||||||||||||
|
| |||||||||||||||||||
NET ASSETS 100.0% | $87,652,762 | |||||||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
INDEXED ASSETS: | ||||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (12.7%) | ||||||||
Aaron’s, Inc. | 41,405 | 1,475,674 | ||||||
Abercrombie & Fitch Co. Cl A | 41,699 | 1,803,482 | ||||||
Advance Auto Parts, Inc. | 41,820 | 5,642,354 | ||||||
AMC Networks, Inc. Cl A* | 33,880 | 2,083,281 | ||||||
American Eagle Outfitters, Inc. | 98,068 | 1,100,323 | ||||||
ANN, Inc.* | 26,843 | 1,104,321 | ||||||
Apollo Education Group, Inc.* | 56,844 | 1,776,375 | ||||||
Ascena Retail Group, Inc.* | 74,135 | 1,267,709 | ||||||
Bally Technologies, Inc.* | 22,513 | 1,479,554 | ||||||
Big Lots, Inc. | 31,799 | 1,453,214 | ||||||
Brinker International, Inc. | 37,232 | 1,811,337 | ||||||
Brunswick Corp. | 53,151 | 2,239,252 | ||||||
Cabela’s, Inc.* | 26,870 | 1,676,688 | ||||||
Carter’s, Inc. | 30,778 | 2,121,528 | ||||||
Cheesecake Factory, Inc. | 26,340 | 1,222,703 | ||||||
Chico’s FAS, Inc. | 87,842 | 1,489,800 | ||||||
Cinemark Hldgs., Inc. | 59,685 | 2,110,462 | ||||||
CST Brands, Inc. | 43,348 | 1,495,506 | ||||||
Deckers Outdoor Corp.* | 19,847 | 1,713,392 | ||||||
Devry Education Group Inc. | 32,758 | 1,386,974 | ||||||
Dick’s Sporting Goods, Inc. | 56,945 | 2,651,359 | ||||||
Domino’s Pizza, Inc. | 31,888 | 2,330,694 | ||||||
DreamWorks Animation SKG Cl A* | 41,238 | 959,196 | ||||||
Foot Locker, Inc. | 83,585 | 4,239,431 | ||||||
Gentex Corp. | 83,638 | 2,433,029 | ||||||
Guess?, Inc. | 34,207 | 923,589 | ||||||
Hanesbrands, Inc. | 57,079 | 5,618,857 | ||||||
HSN, Inc. | 19,218 | 1,138,474 | ||||||
International Game Technology | 141,586 | 2,252,633 | ||||||
International Speedway Corp. Cl A | 15,997 | 532,380 | ||||||
Jarden Corp.* | 68,777 | 4,081,915 | ||||||
Kate Spade & Co.* | 72,539 | 2,766,637 | ||||||
KB Home | 51,570 | 963,328 | ||||||
Lamar Advertising Co. Cl A | 37,631 | 1,994,443 | ||||||
Life Time Fitness, Inc.* | 21,554 | 1,050,542 | ||||||
Live Nation Entertainment, Inc.* | 81,578 | 2,014,161 | ||||||
LKQ Corp.* | 173,031 | 4,618,197 | ||||||
MDC Hldgs., Inc. | 22,389 | 678,163 | ||||||
Meredith Corp. | 21,212 | 1,025,812 | ||||||
Murphy USA, Inc.* | 25,462 | 1,244,837 | ||||||
New York Times Co. Cl A | 72,354 | 1,100,504 | ||||||
NVR, Inc.* | 2,332 | 2,683,199 | ||||||
Office Depot, Inc.* | 278,940 | 1,587,169 | ||||||
Panera Bread Co. Cl A* | 14,958 | 2,241,157 | ||||||
Penney (J.C.) Co., Inc.* | 174,705 | 1,581,080 | ||||||
Polaris Industries, Inc. | 37,769 | 4,919,035 | ||||||
Rent-A-Center, Inc. | 30,263 | 867,943 | ||||||
Service Corp. International | 122,402 | 2,536,169 | ||||||
Signet Jewelers Ltd. | 45,973 | 5,084,154 | ||||||
Sotheby’s | 39,515 | 1,659,235 | ||||||
Tempur Sealy Int’l., Inc.* | 34,851 | 2,080,605 | ||||||
The Wendy’s Co. | 151,390 | 1,291,357 | ||||||
Thor Industries, Inc. | 25,666 | 1,459,625 | ||||||
Time, Inc.* | 63,962 | 1,549,160 | ||||||
Toll Brothers, Inc.* | 91,713 | 3,384,210 | ||||||
Tupperware Brands Corp. | 28,921 | 2,420,688 | ||||||
Wiley (John) & Sons, Inc. Cl A | 26,844 | 1,626,478 | ||||||
Williams-Sonoma, Inc. | 50,178 | 3,601,777 | ||||||
|
| |||||||
121,645,151 | ||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
CONSUMER STAPLES (3.4%) | ||||||||
Church & Dwight Co., Inc. | 77,906 | 5,449,525 | ||||||
Dean Foods Co. | 53,581 | 942,490 | ||||||
Energizer Hldgs., Inc. | 35,350 | 4,313,761 | ||||||
Flowers Foods, Inc. | 100,752 | 2,123,852 | ||||||
Hain Celestial Group, Inc.* | 28,727 | 2,549,234 | ||||||
Hillshire Brands Co. | 70,325 | 4,381,248 | ||||||
Ingredion, Inc. | 42,753 | 3,208,185 | ||||||
Lancaster Colony Corp. | 11,127 | 1,058,845 | ||||||
Post Hldgs., Inc.* | 25,196 | 1,282,728 | ||||||
SUPERVALU, Inc.* | 113,356 | 931,786 | ||||||
Tootsie Roll Industries, Inc. | 11,845 | 348,717 | ||||||
United Natural Foods, Inc.* | 28,446 | 1,851,835 | ||||||
Universal Corp. | 13,313 | 736,875 | ||||||
WhiteWave Foods Co. Cl A* | 99,671 | 3,226,350 | ||||||
|
| |||||||
32,405,431 | ||||||||
|
| |||||||
ENERGY (5.1%) | ||||||||
Atwood Oceanics, Inc.* | 33,164 | 1,740,447 | ||||||
Bill Barrett Corp.* | 28,487 | 762,882 | ||||||
CARBO Ceramics, Inc. | 11,388 | 1,755,119 | ||||||
Dresser-Rand Group, Inc.* | 43,837 | 2,793,732 | ||||||
Dril-Quip, Inc.* | 23,320 | 2,547,477 | ||||||
Energen Corp. | 41,721 | 3,708,162 | ||||||
Gulfport Energy Corp.* | 48,969 | 3,075,253 | ||||||
Helix Energy Solutions Group* | 56,262 | 1,480,253 | ||||||
HollyFrontier Corp. | 113,888 | 4,975,767 | ||||||
Oceaneering Int’l., Inc. | 61,908 | 4,836,872 | ||||||
Oil States International, Inc.* | 30,412 | 1,949,105 | ||||||
Patterson-UTI Energy, Inc. | 82,827 | 2,893,975 | ||||||
Rosetta Resources, Inc.* | 35,217 | 1,931,652 | ||||||
SM Energy Co. | 38,439 | 3,232,720 | ||||||
Superior Energy Services, Inc. | 89,765 | 3,244,107 | ||||||
Tidewater, Inc. | 28,400 | 1,594,660 | ||||||
Unit Corp.* | 25,291 | 1,740,780 | ||||||
World Fuel Services Corp. | 41,260 | 2,031,230 | ||||||
WPX Energy, Inc.* | 115,877 | 2,770,619 | ||||||
|
| |||||||
49,064,812 | ||||||||
|
| |||||||
FINANCIALS (21.3%) | ||||||||
Alexander & Baldwin, Inc. | 24,580 | 1,018,841 | ||||||
Alexandria Real Estate Equities, Inc. | 41,071 | 3,188,752 | ||||||
Alleghany Corp.* | 9,438 | 4,134,977 | ||||||
American Campus Communities, Inc. | 60,135 | 2,299,562 | ||||||
American Financial Group, Inc. | 41,052 | 2,445,057 | ||||||
Aspen Insurance Hldgs. Ltd. | 37,505 | 1,703,477 | ||||||
Associated Banc-Corp. | 91,402 | 1,652,548 | ||||||
Astoria Financial Corp. | 48,439 | 651,505 | ||||||
BancorpSouth, Inc. | 48,442 | 1,190,220 | ||||||
Bank of Hawaii Corp. | 25,468 | 1,494,717 | ||||||
Berkley (W.R.) Corp. | 59,277 | 2,745,118 | ||||||
BioMed Realty Trust, Inc. | 110,349 | 2,408,919 | ||||||
Brown & Brown, Inc. | 68,143 | 2,092,672 | ||||||
Camden Property Trust | 49,049 | 3,489,836 | ||||||
Cathay General Bancorp | 42,444 | 1,084,869 | ||||||
CBOE Holdings, Inc. | 49,287 | 2,425,413 | ||||||
City National Corp. | 27,409 | 2,076,506 | ||||||
Commerce Bancshares, Inc. | 46,378 | 2,156,577 | ||||||
Corporate Office Pptys. Trust | 50,218 | 1,396,563 | ||||||
Corrections Corp. of America | 66,704 | 2,191,226 | ||||||
Cullen/Frost Bankers, Inc. | 30,376 | 2,412,462 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Duke Realty Corp. | 188,870 | 3,429,879 | ||||||
East West Bancorp, Inc. | 82,194 | 2,875,968 | ||||||
Eaton Vance Corp. | 69,200 | 2,615,068 | ||||||
Equity One, Inc. | 36,296 | 856,223 | ||||||
Everest Re Group Ltd. | 26,429 | 4,241,590 | ||||||
Extra Space Storage, Inc. | 63,138 | 3,362,099 | ||||||
Federal Realty Investment Trust | 38,562 | 4,662,917 | ||||||
Federated Investors, Inc. Cl B | 54,222 | 1,676,544 | ||||||
First American Financial Corp. | 61,241 | 1,701,887 | ||||||
First Horizon National Corp. | 135,615 | 1,608,394 | ||||||
First Niagara Financial Group, Inc. | 202,886 | 1,773,224 | ||||||
FirstMerit Corp. | 94,784 | 1,871,984 | ||||||
Fulton Financial Corp. | 108,320 | 1,342,085 | ||||||
Gallagher (Arthur J.) & Co. | 90,051 | 4,196,377 | ||||||
Hancock Hldg. Co. | 47,166 | �� | 1,665,903 | |||||
Hanover Insurance Group, Inc. | 25,254 | 1,594,790 | ||||||
HCC Insurance Hldgs., Inc. | 57,265 | 2,802,549 | ||||||
Highwoods Properties, Inc. | 51,659 | 2,167,095 | ||||||
Home Properties, Inc. | 32,749 | 2,094,626 | ||||||
Hospitality Properties Trust | 85,834 | 2,609,354 | ||||||
International Bancshares Corp. | 32,628 | 880,956 | ||||||
Janus Capital Group, Inc. | 86,069 | 1,074,141 | ||||||
Jones Lang LaSalle, Inc. | 25,546 | 3,228,759 | ||||||
Kemper Corp. | 29,183 | 1,075,685 | ||||||
Kilroy Realty Corp. | 47,129 | 2,935,194 | ||||||
LaSalle Hotel Propertie | 63,707 | 2,248,220 | ||||||
Liberty Property Trust | 84,662 | 3,211,230 | ||||||
Mack-Cali Realty Corp. | 50,821 | 1,091,635 | ||||||
Mercury General Corp. | 20,800 | 978,432 | ||||||
Mid-America Apt. Communities, Inc. | 42,997 | 3,140,931 | ||||||
MSCI, Inc. Cl A* | 66,897 | 3,067,227 | ||||||
National Retail Pptys., Inc. | 70,615 | 2,626,172 | ||||||
New York Community Bancorp, Inc. | 253,739 | 4,054,749 | ||||||
Old Republic Int’l. Corp. | 138,895 | 2,297,323 | ||||||
Omega Healthcare Investors, Inc. | 72,248 | 2,663,061 | ||||||
PacWest Bancorp | 54,933 | 2,371,458 | ||||||
Potlatch Corp. | 23,267 | 963,254 | ||||||
Primerica, Inc. | 31,193 | 1,492,585 | ||||||
Prosperity Bancshares, Inc. | 34,375 | 2,151,875 | ||||||
Protective Life Corp. | 45,197 | 3,133,508 | ||||||
Raymond James Financial, Inc. | 71,162 | 3,610,048 | ||||||
Rayonier, Inc. | 72,493 | 2,577,126 | ||||||
Realty Income Corp. | 126,934 | 5,638,408 | ||||||
Regency Centers Corp. | 52,932 | 2,947,254 | ||||||
Reinsurance Grp. of America, Inc. | 39,596 | 3,124,124 | ||||||
RenaissanceRe Hldgs. Ltd. | 23,244 | 2,487,108 | ||||||
SEI Investments Co. | 81,451 | 2,669,149 | ||||||
Senior Housing Pptys. Trust | 116,778 | 2,836,538 | ||||||
Signature Bank* | 28,661 | 3,616,445 | ||||||
SL Green Realty Corp | 54,708 | 5,985,602 | ||||||
SLM Corp. | 242,346 | 2,013,895 | ||||||
StanCorp Financial Group, Inc. | 25,070 | 1,604,480 | ||||||
SVB Financial Group* | 28,566 | 3,331,367 | ||||||
Synovus Financial Corp. | 79,667 | 1,942,281 | ||||||
Taubman Centers, Inc. | 36,264 | 2,749,174 | ||||||
TCF Financial Corp. | 95,514 | 1,563,564 | ||||||
Trustmark Corp. | 38,657 | 954,441 | ||||||
UDR, Inc. | 144,126 | 4,126,327 | ||||||
Umpqua Hldgs. Corp. | 98,237 | 1,760,407 | ||||||
Valley National Bancorp | 114,913 | 1,138,788 | ||||||
Waddell & Reed Financial, Inc. Cl A | 48,855 | 3,057,834 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Washington Federal, Inc. | 58,084 | 1,302,824 | ||||||
Washington Prime Group, Inc.* | 89,038 | 1,668,572 | ||||||
Webster Financial Corp. | 51,771 | 1,632,857 | ||||||
Weingarten Realty Investors | 64,425 | 2,115,717 | ||||||
Westamerica Bancorporation | 15,080 | 788,382 | ||||||
|
| |||||||
205,337,480 | ||||||||
|
| |||||||
HEALTH CARE (9.3%) | ||||||||
Align Technology, Inc.* | 41,179 | 2,307,671 | ||||||
Allscripts Healthcare Solutions, Inc.* | 91,565 | 1,469,618 | ||||||
Bio-Rad Laboratories, Inc. Cl A* | 11,564 | 1,384,326 | ||||||
Charles River Laboratories Int’l., Inc.* | 27,724 | 1,483,788 | ||||||
Community Health Systems, Inc.* | 66,069 | 2,997,551 | ||||||
Cooper Companies, Inc. | 27,479 | 3,724,229 | ||||||
Covance, Inc.* | 32,912 | 2,816,609 | ||||||
Cubist Pharmaceuticals, Inc.* | 43,166 | 3,013,850 | ||||||
Endo International PLC* | 80,298 | 5,622,466 | ||||||
Health Net, Inc.* | 45,975 | 1,909,802 | ||||||
Hill-Rom Hldgs., Inc. | 32,800 | 1,361,528 | ||||||
HMS Hldgs. Corp.* | 50,253 | 1,025,664 | ||||||
Hologic, Inc.* | 158,392 | 4,015,237 | ||||||
IDEXX Laboratories, Inc.* | 29,409 | 3,928,160 | ||||||
LifePoint Hospitals, Inc.* | 25,497 | 1,583,364 | ||||||
Mallinckrodt PLC* | 33,520 | 2,682,270 | ||||||
MEDNAX, Inc.* | 56,970 | 3,312,806 | ||||||
Mettler-Toledo Int’l., Inc.* | 16,749 | 4,240,512 | ||||||
Omnicare, Inc. | 56,763 | 3,778,713 | ||||||
Owens & Minor, Inc. | 36,164 | 1,228,853 | ||||||
ResMed, Inc. | 80,441 | 4,072,728 | ||||||
Salix Pharmaceuticals Ltd.* | 36,347 | 4,483,402 | ||||||
Schein (Henry), Inc.* | 48,932 | 5,806,760 | ||||||
Sirona Dental Systems, Inc.* | 31,726 | 2,616,126 | ||||||
STERIS Corp. | 33,871 | 1,811,421 | ||||||
Techne Corp. | 19,085 | 1,766,698 | ||||||
Teleflex, Inc. | 23,713 | 2,504,093 | ||||||
Thoratec Corp.* | 32,608 | 1,136,715 | ||||||
United Therapeutics Corp.* | 25,297 | 2,238,532 | ||||||
Universal Health Svcs., Inc. Cl B | 51,529 | 4,934,417 | ||||||
VCA Inc.* | 50,617 | 1,776,151 | ||||||
WellCare Health Plans, Inc.* | 25,161 | 1,878,520 | ||||||
|
| |||||||
88,912,580 | ||||||||
|
| |||||||
INDUSTRIALS (16.5%) | ||||||||
Acuity Brands, Inc. | 24,769 | 3,424,314 | ||||||
AECOM Technology Corp.* | 56,892 | 1,831,922 | ||||||
AGCO Corp. | 50,070 | 2,814,935 | ||||||
Alaska Air Group, Inc. | 39,391 | 3,744,115 | ||||||
Alliant TechSystems, Inc. | 18,262 | 2,445,647 | ||||||
B/E Aerospace, Inc.* | 56,712 | 5,245,293 | ||||||
Carlisle Cos., Inc. | 36,735 | 3,181,986 | ||||||
Civeo Corp.* | 60,825 | 1,522,450 | ||||||
CLARCOR, Inc. | 28,900 | 1,787,465 | ||||||
Clean Harbors, Inc.* | 31,698 | 2,036,597 | ||||||
Con-way, Inc. | 32,704 | 1,648,609 | ||||||
Copart, Inc.* | 64,305 | 2,312,408 | ||||||
Corporate Executive Board Co. | 19,375 | 1,321,763 | ||||||
Crane Co. | 28,332 | 2,106,768 | ||||||
Deluxe Corp. | 28,691 | 1,680,719 | ||||||
Donaldson Co., Inc. | 75,388 | 3,190,420 | ||||||
Donnelley (R.R.) & Sons Co. | 114,415 | 1,940,478 | ||||||
Esterline Technologies Corp.* | 18,325 | 2,109,574 | ||||||
Exelis, Inc. | 108,660 | 1,845,047 | ||||||
Fortune Brands Home & Security, Inc. | 95,185 | 3,800,737 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FTI Consulting, Inc.* | 23,418 | 885,669 | ||||||
GATX Corp. | 26,391 | 1,766,614 | ||||||
Genesee & Wyoming, Inc. Cl A* | 29,238 | 3,069,990 | ||||||
Graco, Inc. | 34,747 | 2,713,046 | ||||||
Granite Construction, Inc. | 20,844 | 749,967 | ||||||
Harsco Corp. | 46,282 | 1,232,490 | ||||||
HNI Corp. | 25,853 | 1,011,111 | ||||||
Hubbell, Inc. Cl B | 30,868 | 3,801,394 | ||||||
Hunt (J.B.) Transport Svcs., Inc. | 52,428 | 3,868,138 | ||||||
Huntington Ingalls Industries, Inc. | 28,150 | 2,662,709 | ||||||
IDEX Corp. | 46,212 | 3,731,157 | ||||||
ITT Corp. | 52,564 | 2,528,328 | ||||||
JetBlue Airways Corp* | 130,997 | 1,421,317 | ||||||
KBR, Inc. | 84,373 | 2,012,296 | ||||||
Kennametal, Inc. | 45,034 | 2,084,174 | ||||||
Kirby Corp.* | 32,665 | 3,826,378 | ||||||
Landstar System, Inc. | 25,768 | 1,649,152 | ||||||
Lennox International, Inc. | 25,918 | 2,321,475 | ||||||
Lincoln Electric Hldgs., Inc. | 46,101 | 3,221,538 | ||||||
Manpowergroup, Inc. | 45,641 | 3,872,639 | ||||||
Miller (Herman), Inc. | 33,956 | 1,026,829 | ||||||
MSA Safety, Inc. | 18,196 | 1,045,906 | ||||||
MSC Industrial Direct Co., Inc. Cl A | 27,151 | 2,596,722 | ||||||
Nordson Corp. | 34,304 | 2,750,838 | ||||||
NOW, Inc.* | 61,498 | 2,226,843 | ||||||
Old Dominion Freight Line, Inc.* | 40,007 | 2,547,646 | ||||||
Oshkosh Corp. | 48,688 | 2,703,645 | ||||||
Regal-Beloit Corp. | 25,869 | 2,032,269 | ||||||
Rollins, Inc. | 36,829 | 1,104,870 | ||||||
Smith (A.O.) Corp. | 43,628 | 2,163,076 | ||||||
SPX Corp. | 25,115 | 2,717,694 | ||||||
Terex Corp. | 63,226 | 2,598,589 | ||||||
Timken Co. | 43,937 | 2,980,686 | ||||||
Towers Watson & Co. Cl A | 36,671 | 3,822,218 | ||||||
Trinity Industries, Inc. | 88,800 | 3,882,336 | ||||||
Triumph Group, Inc. | 29,895 | 2,087,269 | ||||||
United Rentals, Inc.* | 55,757 | 5,839,431 | ||||||
URS Corp. | 39,532 | 1,812,542 | ||||||
Valmont Industries, Inc. | 15,409 | 2,341,398 | ||||||
Wabtec Corp. | 55,287 | 4,566,153 | ||||||
Waste Connections, Inc. | 71,051 | 3,449,526 | ||||||
Watsco, Inc. | 15,635 | 1,606,653 | ||||||
Werner Enterprises, Inc. | 26,077 | 691,301 | ||||||
Woodward, Inc. | 33,825 | 1,697,339 | ||||||
|
| |||||||
158,712,608 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (15.9%) | ||||||||
3D Systems Corp.* | 58,597 | 3,504,101 | ||||||
ACI Worldwide, Inc.* | 21,739 | 1,213,688 | ||||||
Acxiom Corp.* | 44,113 | 956,811 | ||||||
Adtran, Inc. | 32,339 | 729,568 | ||||||
Advanced Micro Devices, Inc.* | 371,295 | 1,555,726 | ||||||
Advent Software, Inc. | 23,306 | 759,076 | ||||||
ANSYS, Inc.* | 53,117 | 4,027,331 | ||||||
AOL, Inc.* | 45,822 | 1,823,257 | ||||||
ARRIS Group, Inc.* | 68,393 | 2,224,824 | ||||||
Arrow Electronics, Inc.* | 57,114 | 3,450,257 | ||||||
Atmel Corp.* | 241,302 | 2,261,000 | ||||||
Avnet, Inc. | 79,333 | 3,515,245 | ||||||
Belden, Inc. | 26,806 | 2,095,157 | ||||||
Broadridge Financial Solutions, Inc. | 69,170 | 2,880,239 | ||||||
Cadence Design Systems, Inc.* | 165,954 | 2,902,535 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Ciena Corp.* | 60,204 | 1,304,019 | ||||||
CommVault Systems, Inc.* | 25,426 | 1,250,196 | ||||||
Compuware Corp. | 125,923 | 1,257,971 | ||||||
Concur Technologies, Inc.* | 27,389 | 2,556,489 | ||||||
Convergys Corp. | 58,167 | 1,247,100 | ||||||
Conversant, Inc.* | 36,101 | 916,965 | ||||||
CoreLogic, Inc.* | 52,645 | 1,598,302 | ||||||
Cree, Inc.* | 69,898 | 3,491,405 | ||||||
Cypress Semiconductor Corp. | 83,178 | 907,472 | ||||||
Diebold, Inc. | 37,028 | 1,487,415 | ||||||
DST Systems, Inc. | 20,022 | 1,845,428 | ||||||
Equinix, Inc.* | 28,560 | 6,000,172 | ||||||
FactSet Research Systems, Inc. | 22,571 | 2,714,840 | ||||||
Fair Isaac Corp. | 19,645 | 1,252,565 | ||||||
Fairchild Semiconductor Int’l., Inc.* | 71,612 | 1,117,147 | ||||||
FEI Company | 24,222 | 2,197,662 | ||||||
Fortinet, Inc.* | 78,519 | 1,973,182 | ||||||
Gartner, Inc.* | 51,718 | 3,647,153 | ||||||
Global Payments, Inc. | 41,166 | 2,998,943 | ||||||
Henry (Jack) & Associates, Inc. | 48,468 | 2,880,453 | ||||||
Informatica Corp.* | 62,935 | 2,243,633 | ||||||
Ingram Micro, Inc. Cl A* | 88,966 | 2,598,697 | ||||||
Integrated Device Technology, Inc.* | 77,876 | 1,203,963 | ||||||
InterDigital, Inc. | 23,188 | 1,108,386 | ||||||
International Rectifier Corp.* | 40,853 | 1,139,799 | ||||||
Intersil Corp. Cl A | 73,816 | 1,103,549 | ||||||
Itron, Inc.* | 22,540 | 913,997 | ||||||
JDS Uniphase Corp.* | 134,539 | 1,677,701 | ||||||
Knowles Corp.* | 48,742 | 1,498,329 | ||||||
Leidos Hldgs., Inc. | 36,433 | 1,396,841 | ||||||
Lexmark International, Inc. Cl A | 35,691 | 1,718,879 | ||||||
Mentor Graphics Corp. | 55,503 | 1,197,200 | ||||||
MICROS Systems, Inc.* | 42,889 | 2,912,163 | ||||||
National Instruments Corp. | 56,395 | 1,826,634 | ||||||
NCR Corp.* | 96,244 | 3,377,202 | ||||||
NeuStar, Inc. Cl A* | 34,529 | 898,445 | ||||||
Plantronics, Inc. | 24,389 | 1,171,891 | ||||||
Polycom, Inc.* | 79,189 | 992,238 | ||||||
PTC, Inc.* | 67,995 | 2,638,206 | ||||||
Rackspace Hosting, Inc.* | 66,779 | 2,247,781 | ||||||
RF Micro Devices, Inc.* | 164,026 | 1,573,009 | ||||||
Riverbed Technology, Inc.* | 92,027 | 1,898,517 | ||||||
Rovi Corp.* | 54,302 | 1,301,076 | ||||||
Science Applications Int’l. Corp. | 23,381 | 1,032,505 | ||||||
Semtech Corp.* | 38,566 | 1,008,501 | ||||||
Silicon Laboratories, Inc.* | 22,916 | 1,128,613 | ||||||
Skyworks Solutions, Inc. | 108,677 | 5,103,472 | ||||||
SolarWinds, Inc.* | 37,599 | 1,453,577 | ||||||
Solera Hldgs., Inc. | 39,437 | 2,648,195 | ||||||
SunEdison, Inc.* | 141,071 | 3,188,205 | ||||||
Synopsys, Inc.* | 88,698 | 3,443,256 | ||||||
Tech Data Corp.* | 21,918 | 1,370,313 | ||||||
Teradyne, Inc. | 111,350 | 2,182,460 | ||||||
TIBCO Software, Inc.* | 87,685 | 1,768,606 | ||||||
Trimble Navigation Ltd.* | 149,542 | 5,525,577 | ||||||
VeriFone Systems, Inc.* | 64,042 | 2,353,544 | ||||||
Vishay Intertechnology, Inc. | 77,758 | 1,204,471 | ||||||
WEX, Inc.* | 22,212 | 2,331,594 | ||||||
Zebra Technologies Corp. Cl A* | 28,941 | 2,382,423 | ||||||
|
| |||||||
153,307,142 | ||||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
MATERIALS (7.4%) | ||||||||
Albemarle Corp. | 45,598 | 3,260,257 | ||||||
AptarGroup, Inc. | 37,520 | 2,514,215 | ||||||
Ashland, Inc. | 41,546 | 4,517,712 | ||||||
Cabot Corp. | 34,378 | 1,993,580 | ||||||
Carpenter Technology Corp. | 30,433 | 1,924,887 | ||||||
Cliffs Natural Resources, Inc. | 87,807 | 1,321,495 | ||||||
Commercial Metals Co. | 67,492 | 1,168,287 | ||||||
Compass Minerals Int’l., Inc. | 19,222 | 1,840,314 | ||||||
Cytec Industries, Inc. | 20,553 | 2,166,697 | ||||||
Domtar Corp. | 37,243 | 1,595,863 | ||||||
Eagle Materials, Inc. | 28,687 | 2,704,610 | ||||||
Greif, Inc. Cl A | 17,490 | 954,254 | ||||||
Louisiana-Pacific Corp.* | 80,899 | 1,215,103 | ||||||
Martin Marietta Materials, Inc. | 26,507 | 3,500,249 | ||||||
Minerals Technologies, Inc. | 19,766 | 1,296,254 | ||||||
NewMarket Corp. | 6,344 | 2,487,546 | ||||||
Olin Corp. | 45,290 | 1,219,207 | ||||||
Packaging Corp. of America | 56,359 | 4,029,105 | ||||||
PolyOne Corp. | 53,954 | 2,273,622 | ||||||
Rayonier Advanced Materials, Inc.* | 24,164 | 936,367 | ||||||
Reliance Steel & Aluminum Co. | 44,547 | 3,283,559 | ||||||
Rock-Tenn Co. Cl A | 41,141 | 4,344,078 | ||||||
Royal Gold, Inc. | 37,245 | 2,835,089 | ||||||
RPM International, Inc. | 76,380 | 3,527,228 | ||||||
Scotts Miracle-Gro Co. Cl A | 24,942 | 1,418,202 | ||||||
Sensient Technologies Corp. | 28,352 | 1,579,773 | ||||||
Silgan Hldgs., Inc. | 25,137 | 1,277,462 | ||||||
Sonoco Products Co. | 58,499 | 2,569,861 | ||||||
Steel Dynamics, Inc. | 128,042 | 2,298,354 | ||||||
Valspar Corp. | 44,517 | 3,391,750 | ||||||
Worthington Industries, Inc. | 29,835 | 1,284,098 | ||||||
|
| |||||||
70,729,078 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||
Telephone & Data Systems, Inc. | 56,728 | 1,481,168 | ||||||
tw telecom inc* | 79,061 | 3,186,949 | ||||||
|
| |||||||
4,668,117 | ||||||||
|
| |||||||
UTILITIES (4.7%) | ||||||||
Alliant Energy Corp. | 63,592 | 3,870,209 | ||||||
Aqua America, Inc. | 101,495 | 2,661,199 | ||||||
Atmos Energy Corp. | 57,429 | 3,066,709 | ||||||
Black Hills Corp. | 25,583 | 1,570,540 | ||||||
Cleco Corp. | 34,600 | 2,039,670 | ||||||
Great Plains Energy, Inc. | 88,127 | 2,367,972 | ||||||
Hawaiian Electric Industries, Inc. | 58,169 | 1,472,839 | ||||||
Idacorp, Inc. | 28,836 | 1,667,586 | ||||||
MDU Resources Group | 109,832 | 3,855,103 | ||||||
National Fuel Gas Co. | 48,155 | 3,770,537 | ||||||
OGE Energy Corp. | 114,151 | 4,461,021 | ||||||
ONE Gas, Inc. | 29,794 | 1,124,724 | ||||||
PNM Resources, Inc. | 45,660 | 1,339,208 | ||||||
Questar Corp. | 100,398 | 2,489,870 | ||||||
UGI Corp. | 65,967 | 3,331,334 | ||||||
Vectren Corp. | 47,271 | 2,009,018 | ||||||
Westar Energy, Inc. | 73,887 | 2,821,745 | ||||||
WGL Hldgs., Inc. | 29,751 | 1,282,268 | ||||||
|
| |||||||
45,201,552 | ||||||||
|
| |||||||
TOTAL INDEXED ASSETS - COMMON STOCKS | 929,983,951 | |||||||
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-CAP EQUITY INDEX FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
U.S. GOVERNMENT (0.5%) | ||||||||||||||||
U.S. Treasury Bill (1) | A-1+ | 0.03 | 07/10/14 | 5,000,000 | 4,999,966 | |||||||||||
|
| |||||||||||||||
COMMERCIAL PAPER (1.7%) | ||||||||||||||||
Alabama Power Co.† | A-1 | 0.10 | 07/07/14 | 3,000,000 | 2,999,950 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/10/14 | 1,500,000 | 1,499,966 | |||||||||||
Precision Castparts Corp.† | A-1 | 0.06 | 07/01/14 | 11,400,000 | 11,400,000 | |||||||||||
|
| |||||||||||||||
15,899,916 | ||||||||||||||||
|
| |||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 20,899,882 | |||||||||||||||
|
| |||||||||||||||
TEMPORARY CASH INVESTMENTS (2) | 300,400 | |||||||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS | 951,184,233 | |||||||||||||||
|
| |||||||||||||||
OTHER NET ASSETS 1.0% | 9,551,248 | |||||||||||||||
|
| |||||||||||||||
NET ASSETS 100.0% | $960,735,481 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - INTERNATIONAL FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
FINANCIALS (98.3%) | ||||||||
iShares MSCI EAFE ETF | 1,052,894 | 71,986,363 | ||||||
iShares MSCI EAFE Growth ETF | 218,254 | 15,812,502 | ||||||
iShares MSCI EAFE Small-Cap ETF | 166,033 | 8,786,466 | ||||||
iShares MSCI EAFE Value ETF | 265,320 | 15,539,792 | ||||||
iShares MSCI Emerging Markets ETF | 147,035 | 8,832,392 | ||||||
Vanguard FTSE Developed Markets ETF | 2,416,800 | 102,931,513 | ||||||
Vanguard FTSE Europe ETF | 424,630 | 25,456,569 | ||||||
Vanguard FTSE Pacific ETF | 220,480 | 13,722,675 | ||||||
|
| |||||||
263,068,272 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 263,068,272 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
COMMERCIAL PAPER (1.0%) | ||||||||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 2,600,000 | 2,600,000 | |||||||||||
|
| |||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 2,600,000 | |||||||||||||||
|
| |||||||||||||||
TOTAL INVESTMENTS | 265,668,272 | |||||||||||||||
|
| |||||||||||||||
OTHER NET ASSETS 0.7% | 1,741,233 | |||||||||||||||
|
| |||||||||||||||
NET ASSETS 100.0% | $267,409,505 | |||||||||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
CONSUMER DISCRETIONARY (7.6%) | ||||||||
Amazon.com, Inc.* | 4,260 | 1,383,563 | ||||||
AutoZone, Inc.* | 1,136 | 609,169 | ||||||
Discovery Communications, Inc. Cl A* | 6,628 | 492,328 | ||||||
Disney (Walt) Co. | 19,677 | 1,687,106 | ||||||
Dollar Tree, Inc.* | 4,820 | 262,497 | ||||||
Ford Motor Co. | 29,348 | 505,960 | ||||||
General Motors Co. | 13,968 | 507,038 | ||||||
Home Depot, Inc. | 13,306 | 1,077,254 | ||||||
Johnson Controls, Inc. | 7,177 | 358,348 | ||||||
Macy’s, Inc. | 13,584 | 788,144 | ||||||
McDonald’s Corp. | 11,202 | 1,128,489 | ||||||
Priceline Group Inc.* | 440 | 529,320 | ||||||
Starbucks Corp. | 14,509 | 1,122,706 | ||||||
Target Corp. | 13,504 | 782,557 | ||||||
Time Warner Cable, Inc. | 7,360 | 1,084,128 | ||||||
Time Warner, Inc. | 12,391 | 870,468 | ||||||
Time, Inc.* | 1,548 | 37,493 | ||||||
TJX Cos., Inc. | 9,502 | 505,031 | ||||||
Viacom, Inc. Cl B | 8,846 | 767,214 | ||||||
|
| |||||||
14,498,813 | ||||||||
|
| |||||||
CONSUMER STAPLES (5.2%) | ||||||||
Coca-Cola Co. | 18,712 | 792,640 | ||||||
Colgate-Palmolive Co. | 10,417 | 710,231 | ||||||
Constellation Brands, Inc. Cl A* | 11,138 | 981,592 | ||||||
Estee Lauder Cos., Inc. Cl A | 9,931 | 737,476 | ||||||
Mead Johnson Nutrition Co. | 4,195 | 390,848 | ||||||
Mondelez International, Inc. Cl A | 15,391 | 578,856 | ||||||
PepsiCo, Inc. | 12,208 | 1,090,663 | ||||||
Philip Morris Int’l., Inc. | 8,107 | 683,501 | ||||||
Proctor & Gamble Co. | 21,032 | 1,652,905 | ||||||
Sysco Corp. | 14,973 | 560,739 | ||||||
Tyson Foods, Inc. Cl A | 12,651 | 474,919 | ||||||
Wal-Mart Stores, Inc. | 17,148 | 1,287,300 | ||||||
|
| |||||||
9,941,670 | ||||||||
|
| |||||||
ENERGY (7.0%) | ||||||||
Anadarko Petroleum Corp. | 9,491 | 1,038,980 | ||||||
Apache Corp. | 6,495 | 653,527 | ||||||
Chevron Corp. | 8,662 | 1,130,824 | ||||||
EOG Resources, Inc. | 9,300 | 1,086,798 | ||||||
Exxon Mobil Corp. | 35,052 | 3,529,035 | ||||||
Halliburton Co. | 21,592 | 1,533,248 | ||||||
Hess Corp. | 6,283 | 621,326 | ||||||
National Oilwell Varco, Inc. | 9,714 | 799,948 | ||||||
Noble Energy, Inc. | 16,632 | 1,288,315 | ||||||
Occidental Petroleum Corp. | 10,227 | 1,049,597 | ||||||
Range Resources Corp. | 5,457 | 474,486 | ||||||
|
| |||||||
13,206,084 | ||||||||
|
| |||||||
FINANCIALS (8.9%) | ||||||||
American Int’l. Group, Inc. | 19,786 | 1,079,920 | ||||||
Aon PLC | 6,325 | 569,819 | ||||||
Bank of America Corp. | 72,350 | 1,112,020 | ||||||
Berkshire Hathaway, Inc. Cl B* | 8,165 | 1,033,362 | ||||||
Capital One Financial Corp. | 19,627 | 1,621,190 | ||||||
Citigroup, Inc. | 19,052 | 897,349 | ||||||
Comerica, Inc. | 13,712 | 687,794 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Franklin Resources, Inc. | 7,567 | 437,675 | ||||||
Goldman Sachs Group, Inc. | 6,753 | 1,130,722 | ||||||
JPMorgan Chase & Co. | 43,379 | 2,499,498 | ||||||
MetLife, Inc. | 19,710 | 1,095,088 | ||||||
PNC Financial Svcs. Grp., Inc. | 8,797 | 783,373 | ||||||
Simon Property Group, Inc. | 7,028 | 1,168,616 | ||||||
Washington Prime Group, Inc.* | 3,514 | 65,852 | ||||||
Wells Fargo & Co. | 42,299 | 2,223,235 | ||||||
Zions Bancorporation | 18,786 | 553,623 | ||||||
|
| |||||||
16,959,136 | ||||||||
|
| |||||||
HEALTH CARE (8.8%) | ||||||||
Abbott Laboratories | 20,233 | 827,530 | ||||||
AmerisourceBergen Corp. | 3,011 | 218,779 | ||||||
Biogen Idec, Inc.* | 2,927 | 922,912 | ||||||
Celgene Corp.* | 11,130 | 955,844 | ||||||
Cerner Corp.* | 5,402 | 278,635 | ||||||
Covidien PLC | 12,015 | 1,083,513 | ||||||
Express Scripts Hldg. Co.* | 8,441 | 585,215 | ||||||
Forest Laboratories, Inc.* | 9,100 | 900,900 | ||||||
Gilead Sciences, Inc.* | 19,697 | 1,633,078 | ||||||
Humana, Inc. | 2,967 | 378,945 | ||||||
McKesson Corp. | 3,590 | 668,494 | ||||||
Medtronic, Inc. | 8,167 | 520,728 | ||||||
Merck & Co., Inc. | 30,185 | 1,746,202 | ||||||
Mylan, Inc.* | 29,432 | 1,517,514 | ||||||
Pfizer, Inc. | 68,337 | 2,028,242 | ||||||
St. Jude Medical, Inc. | 7,418 | 513,697 | ||||||
Stryker Corp. | 9,508 | 801,715 | ||||||
UnitedHealth Group, Inc. | 8,498 | 694,712 | ||||||
Vertex Pharmaceuticals, Inc.* | 3,623 | 343,026 | ||||||
|
| |||||||
16,619,681 | ||||||||
|
| |||||||
INDUSTRIALS (6.5%) | ||||||||
Boeing Co. | 14,502 | 1,845,089 | ||||||
Cummins, Inc. | 7,366 | 1,136,500 | ||||||
Delta Air Lines, Inc. | 16,638 | 644,223 | ||||||
Expeditors Int’l. of Wash. | 13,530 | 597,485 | ||||||
FedEx Corp. | 7,377 | 1,116,730 | ||||||
General Electric Co. | 64,304 | 1,689,909 | ||||||
NOW, Inc.* | 2,428 | 87,918 | ||||||
Precision Castparts Corp. | 5,783 | 1,459,629 | ||||||
Roper Industries, Inc. | 14,689 | 2,144,741 | ||||||
Tyco International Ltd. | 12,983 | 592,025 | ||||||
Union Pacific Corp. | 10,320 | 1,029,420 | ||||||
|
| |||||||
12,343,669 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY (10.4%) | ||||||||
Analog Devices, Inc. | 10,300 | 556,921 | ||||||
Apple, Inc. | 51,940 | 4,826,779 | ||||||
Automatic Data Processing, Inc. | 8,803 | 697,902 | ||||||
Broadcom Corp. Cl A | 18,343 | 680,892 | ||||||
Cisco Systems, Inc. | 39,033 | 969,970 | ||||||
F5 Networks, Inc.* | 2,626 | 292,641 | ||||||
Facebook, Inc. Cl A* | 13,971 | 940,109 | ||||||
Google, Inc. Cl A* | 1,968 | 1,150,631 | ||||||
Google, Inc. Cl C* | 1,968 | 1,132,151 | ||||||
KLA-Tencor Corp. | 5,730 | 416,227 | ||||||
MasterCard, Inc. Cl A | 11,094 | 815,076 | ||||||
Microsoft Corp. | 44,788 | 1,867,660 | ||||||
NetApp, Inc. | 2,395 | 87,465 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Oracle Corp. | 27,895 | 1,130,584 | ||||||
QUALCOMM, Inc. | 15,948 | 1,263,082 | ||||||
Salesforce.com, inc.* | 24,770 | 1,438,642 | ||||||
Teradata Corp.* | 8,219 | 330,404 | ||||||
Texas Instruments, Inc. | 12,981 | 620,362 | ||||||
Yahoo!, Inc.* | 15,324 | 538,332 | ||||||
|
| |||||||
19,755,830 | ||||||||
|
| |||||||
MATERIALS (2.1%) | ||||||||
Ball Corp. | 11,672 | 731,601 | ||||||
CF Industries Hldgs., Inc. | 2,123 | 510,645 | ||||||
Dow Chemical Co. | 15,705 | 808,179 | ||||||
Eastman Chemical Co. | 12,368 | 1,080,345 | ||||||
FMC Corp. | 3,631 | 258,491 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 16,020 | 584,730 | ||||||
|
| |||||||
3,973,991 | ||||||||
|
| |||||||
TELECOMMUNICATION SERVICES (1.1%) | ||||||||
AT&T, Inc. | 37,483 | 1,325,399 | ||||||
Verizon Communications, Inc. | 16,062 | 785,914 | ||||||
|
| |||||||
2,111,313 | ||||||||
|
| |||||||
UTILITIES (1.7%) | ||||||||
Ameren Corp. | 4,526 | 185,023 | ||||||
Dominion Resources, Inc. | 13,419 | 959,727 | ||||||
Edison International | 7,761 | 450,992 | ||||||
PPL Corp. | 8,610 | 305,913 | ||||||
Public Svc. Enterprise Group, Inc. | 15,123 | 616,867 | ||||||
Sempra Energy | 7,060 | 739,253 | ||||||
|
| |||||||
3,257,775 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 112,667,962 | |||||||
|
|
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||||
LONG-TERM DEBT SECURITIES: | ||||||||||||||||||
U.S. GOVERNMENT (7.6%) | ||||||||||||||||||
U.S. Treasury Note | AA+ | 2.00 | 11/30/20 | 250,000 | 249,863 | |||||||||||||
U.S. Treasury Strip | AA+ | 0.00 | 11/15/16 | 1,000,000 | 796,430 | |||||||||||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/21 | 300,000 | 255,571 | |||||||||||||
U.S. Treasury Strip | AA+ | 0.00 | 11/15/21 | 7,050,000 | 5,942,969 | |||||||||||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/28 | 6,000,000 | 3,857,549 | |||||||||||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/29 | 5,500,000 | 3,386,389 | |||||||||||||
| ||||||||||||||||||
14,488,771 | ||||||||||||||||||
| ||||||||||||||||||
U.S. GOVERNMENT AGENCIES (12.8%) | ||||||||||||||||||
MORTGAGE-BACKED OBLIGATIONS (12.6%) | ||||||||||||||||||
FHARM | AA+ | 2.37 | 09/01/39 | 56,956 | 60,757 | |||||||||||||
FHARM | AA+ | 2.38 | 04/01/37 | 81,812 | 86,941 | |||||||||||||
FHARM | AA+ | 5.24 | 02/01/36 | 48,511 | 51,668 | |||||||||||||
FHARM | AA+ | 5.43 | 05/01/37 | 33,567 | 35,008 | |||||||||||||
FHARM | AA+ | 5.77 | 03/01/37 | 21,760 | 23,330 | |||||||||||||
FHLMC | AA+ | 2.50 | 09/01/27 | 416,663 | 423,375 | |||||||||||||
FHLMC | AA+ | 3.00 | 06/01/27 | 222,909 | 231,333 | |||||||||||||
FHLMC | AA+ | 3.00 | 08/01/27 | 417,085 | 432,846 | |||||||||||||
FHLMC | AA+ | 3.00 | 10/15/37 | 340,012 | 343,697 | |||||||||||||
FHLMC | AA+ | 3.00 | 11/01/42 | 308,289 | 304,949 | |||||||||||||
FHLMC | AA+ | 3.00 | 04/01/43 | 413,993 | 409,893 | |||||||||||||
FHLMC | AA+ | 3.50 | 01/01/43 | 462,441 | 475,951 | |||||||||||||
FHLMC | AA+ | 4.00 | 02/01/25 | 85,193 | 90,654 | |||||||||||||
FHLMC | AA+ | 4.00 | 03/01/41 | 311,644 | 330,600 | |||||||||||||
FHLMC | AA+ | 4.00 | 07/01/41 | 292,183 | 310,659 | |||||||||||||
FHLMC | AA+ | 4.50 | 08/01/34 | 78,857 | 85,579 | |||||||||||||
FHLMC | AA+ | 4.50 | 08/15/35 | 91,010 | 99,281 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FHLMC | AA+ | 5.00 | 02/01/26 | 42,567 | 47,106 | |||||||||||
FHLMC | AA+ | 5.00 | 10/01/40 | 525,795 | 583,111 | |||||||||||
FHLMC | AA+ | 5.50 | 07/01/32 | 81,094 | 90,840 | |||||||||||
FHLMC | AA+ | 5.50 | 05/01/33 | 130,806 | 146,731 | |||||||||||
FHLMC | AA+ | 5.50 | 06/01/37 | 154,373 | 173,561 | |||||||||||
FHLMC | AA+ | 6.00 | 03/15/32 | 71,521 | 78,666 | |||||||||||
FHLMC Strip | AA+ | 3.00 | 01/15/43 | 462,153 | 459,164 | |||||||||||
FNMA | AA+ | 2.42 | 05/01/43 | 458,111 | 456,810 | |||||||||||
FNMA | AA+ | 3.00 | 06/01/33 | 468,459 | 478,102 | |||||||||||
FNMA | AA+ | 3.00 | 09/01/33 | 382,526 | 390,398 | |||||||||||
FNMA | AA+ | 3.00 | 12/01/42 | 443,733 | 434,729 | |||||||||||
FNMA | AA+ | 3.00 | 02/01/43 | 253,673 | 250,895 | |||||||||||
FNMA | AA+ | 3.00 | 03/01/43 | 475,893 | 471,845 | |||||||||||
FNMA | AA+ | 3.50 | 03/25/28 | 331,327 | 341,532 | |||||||||||
FNMA | AA+ | 3.50 | 10/01/41 | 224,747 | 232,178 | |||||||||||
FNMA | AA+ | 3.50 | 12/01/41 | 416,423 | 430,192 | |||||||||||
FNMA | AA+ | 3.50 | 04/01/42 | 557,675 | 574,954 | |||||||||||
FNMA | AA+ | 3.50 | 04/01/42 | 463,121 | 479,266 | |||||||||||
FNMA | AA+ | 3.50 | 08/01/42 | 480,651 | 495,544 | |||||||||||
FNMA | AA+ | 3.50 | 10/01/42 | 375,349 | 386,980 | |||||||||||
FNMA | AA+ | 3.50 | 01/01/44 | 222,157 | 226,543 | |||||||||||
FNMA | AA+ | 4.00 | 05/01/19 | 53,040 | 56,410 | |||||||||||
FNMA | AA+ | 4.00 | 07/25/26 | 472,171 | 505,856 | |||||||||||
FNMA | AA+ | 4.00 | 01/01/31 | 351,065 | 377,652 | |||||||||||
FNMA | AA+ | 4.00 | 06/01/39 | 131,328 | 139,571 | |||||||||||
FNMA | AA+ | 4.00 | 11/01/40 | 312,973 | 332,617 | |||||||||||
FNMA | AA+ | 4.00 | 05/01/41 | 268,912 | 285,584 | |||||||||||
FNMA | AA+ | 4.00 | 08/01/42 | 377,367 | 401,053 | |||||||||||
FNMA | AA+ | 4.50 | 05/01/18 | 53,188 | 56,487 | |||||||||||
FNMA | AA+ | 4.50 | 05/01/30 | 134,867 | 148,041 | |||||||||||
FNMA | AA+ | 4.50 | 04/01/31 | 168,395 | 184,196 | |||||||||||
FNMA | AA+ | 4.50 | 08/01/33 | 67,661 | 73,533 | |||||||||||
FNMA | AA+ | 4.50 | 09/01/33 | 137,191 | 149,021 | |||||||||||
FNMA | AA+ | 4.50 | 06/01/34 | 90,977 | 98,796 | |||||||||||
FNMA | AA+ | 4.50 | 08/01/35 | 93,464 | 101,263 | |||||||||||
FNMA | AA+ | 4.50 | 12/01/35 | 87,599 | 94,926 | |||||||||||
FNMA | AA+ | 4.50 | 05/01/39 | 121,850 | 133,142 | |||||||||||
FNMA | AA+ | 4.50 | 05/01/39 | 190,840 | 208,524 | |||||||||||
FNMA | AA+ | 4.50 | 05/01/40 | 135,212 | 146,197 | |||||||||||
FNMA | AA+ | 5.00 | 04/01/18 | 116,881 | 124,014 | |||||||||||
FNMA | AA+ | 5.00 | 06/01/33 | 143,128 | 159,756 | |||||||||||
FNMA | AA+ | 5.00 | 10/01/33 | 135,898 | 152,514 | |||||||||||
FNMA | AA+ | 5.00 | 11/01/33 | 92,313 | 103,081 | |||||||||||
FNMA | AA+ | 5.00 | 11/01/33 | 347,582 | 387,321 | |||||||||||
FNMA | AA+ | 5.00 | 03/01/34 | 49,253 | 54,940 | |||||||||||
FNMA | AA+ | 5.00 | 04/01/34 | 71,152 | 79,064 | |||||||||||
FNMA | AA+ | 5.00 | 09/01/35 | 62,023 | 68,920 | |||||||||||
FNMA | AA+ | 5.00 | 11/25/35 | 192,631 | 207,195 | |||||||||||
FNMA | AA+ | 5.00 | 08/01/37 | 417,976 | 464,957 | |||||||||||
FNMA | AA+ | 5.00 | 05/01/39 | 179,477 | 199,104 | |||||||||||
FNMA | AA+ | 5.00 | 06/01/40 | 92,536 | 102,935 | |||||||||||
FNMA | AA+ | 5.50 | 04/01/17 | 6,466 | 6,867 | |||||||||||
FNMA | AA+ | 5.50 | 05/01/17 | 2,295 | 2,438 | |||||||||||
FNMA | AA+ | 5.50 | 06/01/17 | 3,012 | 3,199 | |||||||||||
FNMA | AA+ | 5.50 | 03/01/34 | 35,422 | 39,971 | |||||||||||
FNMA | AA+ | 5.50 | 05/01/34 | 321,195 | 361,320 | |||||||||||
FNMA | AA+ | 5.50 | 07/01/34 | 84,035 | 94,018 | |||||||||||
FNMA | AA+ | 5.50 | 09/01/34 | 158,427 | 178,250 | |||||||||||
FNMA | AA+ | 5.50 | 09/01/34 | 49,877 | 56,324 | |||||||||||
FNMA | AA+ | 5.50 | 10/01/34 | 53,974 | 60,996 | |||||||||||
FNMA | AA+ | 5.50 | 02/01/35 | 72,579 | 81,971 | |||||||||||
FNMA | AA+ | 5.50 | 02/01/35 | 115,999 | 131,802 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FNMA | AA+ | 5.50 | 08/01/35 | 53,855 | 60,807 | |||||||||||
FNMA | AA+ | 5.50 | 08/01/37 | 23,720 | 26,537 | |||||||||||
FNMA | AA+ | 5.50 | 11/01/38 | 41,824 | 45,465 | |||||||||||
FNMA | AA+ | 5.50 | 06/01/48 | 51,734 | 56,129 | |||||||||||
FNMA | AA+ | 6.00 | 03/01/17 | 3,037 | 3,172 | |||||||||||
FNMA | AA+ | 6.00 | 05/01/23 | 37,770 | 42,686 | |||||||||||
FNMA | AA+ | 6.00 | 04/01/32 | 18,237 | 20,640 | |||||||||||
FNMA | AA+ | 6.00 | 04/01/32 | 24,509 | 27,579 | |||||||||||
FNMA | AA+ | 6.00 | 05/01/32 | 25,338 | 28,882 | |||||||||||
FNMA | AA+ | 6.00 | 04/01/33 | 139,680 | 159,429 | |||||||||||
FNMA | AA+ | 6.00 | 05/01/33 | 85,711 | 97,368 | |||||||||||
FNMA | AA+ | 6.00 | 06/01/34 | 54,882 | 62,194 | |||||||||||
FNMA | AA+ | 6.00 | 09/01/34 | 27,221 | 31,006 | |||||||||||
FNMA | AA+ | 6.00 | 10/01/34 | 63,134 | 72,007 | |||||||||||
FNMA | AA+ | 6.00 | 11/01/34 | 25,927 | 29,175 | |||||||||||
FNMA | AA+ | 6.00 | 12/01/36 | 84,812 | 95,676 | |||||||||||
FNMA | AA+ | 6.00 | 01/01/37 | 77,083 | 86,994 | |||||||||||
FNMA | AA+ | 6.00 | 04/01/37 | 34,240 | 37,508 | |||||||||||
FNMA | AA+ | 6.00 | 05/01/37 | 24,808 | 27,147 | |||||||||||
FNMA | AA+ | 6.00 | 06/01/37 | 42,017 | 46,001 | |||||||||||
FNMA | AA+ | 6.00 | 10/25/44 | 129,824 | 147,096 | |||||||||||
FNMA | AA+ | 6.00 | 02/25/47 | 127,402 | 144,379 | |||||||||||
FNMA | AA+ | 6.00 | 12/25/49 | 94,290 | 106,136 | |||||||||||
FNMA | AA+ | 6.50 | 09/01/16 | 2,384 | 2,463 | |||||||||||
FNMA | AA+ | 6.50 | 03/01/17 | 8,312 | 8,647 | |||||||||||
FNMA | AA+ | 6.50 | 05/01/17 | 2,087 | 2,119 | |||||||||||
FNMA | AA+ | 6.50 | 06/01/17 | 11,935 | 12,457 | |||||||||||
FNMA | AA+ | 6.50 | 05/01/32 | 20,099 | 22,705 | |||||||||||
FNMA | AA+ | 6.50 | 05/01/32 | 26,868 | 30,354 | |||||||||||
FNMA | AA+ | 6.50 | 07/01/32 | 4,381 | 4,953 | |||||||||||
FNMA | AA+ | 6.50 | 07/01/34 | 52,642 | 59,512 | |||||||||||
FNMA | AA+ | 6.50 | 05/01/37 | 75,149 | 85,715 | |||||||||||
FNMA | AA+ | 6.50 | 09/01/37 | 31,183 | 35,161 | |||||||||||
FNMA | AA+ | 7.00 | 09/01/31 | 18,281 | 20,538 | |||||||||||
FNMA | AA+ | 7.00 | 04/01/32 | 12,958 | 14,412 | |||||||||||
FNMA | AA+ | 7.50 | 06/01/31 | 10,615 | 12,196 | |||||||||||
FNMA | AA+ | 7.50 | 02/01/32 | 8,267 | 9,986 | |||||||||||
FNMA | AA+ | 7.50 | 06/01/32 | 8,592 | 10,135 | |||||||||||
FNMA | AA+ | 8.00 | 04/01/32 | 1,672 | 1,814 | |||||||||||
FNMA Strip | AA+ | 3.00 | 08/25/42 | 407,519 | 407,558 | |||||||||||
GNMA (4) | AA+ | 3.50 | 09/20/33 | 173,330 | 180,112 | |||||||||||
GNMA (4) | AA+ | 3.50 | 01/20/37 | 117,698 | 120,914 | |||||||||||
GNMA (4) | AA+ | 4.00 | 08/15/41 | 297,728 | 318,564 | |||||||||||
GNMA (4) | AA+ | 4.00 | 01/15/42 | 409,628 | 438,257 | |||||||||||
GNMA (4) | AA+ | 4.00 | 03/20/42 | 289,333 | 309,947 | |||||||||||
GNMA (4) | AA+ | 4.00 | 08/20/42 | 256,437 | 274,532 | |||||||||||
GNMA (4) | AA+ | 4.50 | 04/20/31 | 260,917 | 287,935 | |||||||||||
GNMA (4) | AA+ | 4.50 | 10/15/40 | 287,010 | 313,743 | |||||||||||
GNMA (4) | AA+ | 4.50 | 10/20/43 | 481,019 | 528,674 | |||||||||||
GNMA (4) | AA+ | 5.00 | 10/15/24 | 291,422 | 325,033 | |||||||||||
GNMA (4) | AA+ | 5.00 | 04/15/39 | 222,324 | 248,044 | |||||||||||
GNMA (4) | AA+ | 5.00 | 06/20/39 | 256,672 | 277,660 | |||||||||||
GNMA (4) | AA+ | 5.00 | 11/15/39 | 177,337 | 195,739 | |||||||||||
GNMA (4) | AA+ | 6.50 | 04/15/31 | 4,174 | 4,742 | |||||||||||
GNMA (4) | AA+ | 6.50 | 10/15/31 | 5,697 | 6,633 | |||||||||||
GNMA (4) | AA+ | 6.50 | 12/15/31 | 4,470 | 5,079 | |||||||||||
GNMA (4) | AA+ | 6.50 | 05/15/32 | 8,300 | 9,467 | |||||||||||
GNMA (4) | AA+ | 7.00 | 05/15/31 | 4,789 | 5,653 | |||||||||||
GNMA (4) | AA+ | 7.00 | 05/15/32 | 2,582 | 2,906 | |||||||||||
Vendee Mortgage Trust (4) | AA+ | 5.25 | 01/15/32 | 266,029 | 297,638 | |||||||||||
| ||||||||||||||||
23,985,504 | ||||||||||||||||
| ||||||||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (0.2%) | ||||||||||||||||
FHLMC | AA+ | 0.00 | 11/29/19 | 500,000 | 437,942 | |||||||||||
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
CORPORATE DEBT (17.8%) | ||||||||||||||||
CONSUMER DISCRETIONARY (3.2%) | ||||||||||||||||
Advance Auto Parts, Inc. | BBB- | 5.75 | 05/01/20 | 270,000 | 309,750 | |||||||||||
AutoZone, Inc. | BBB | 4.00 | 11/15/20 | 250,000 | 265,887 | |||||||||||
Darden Restaurants, Inc. | BBB- | 4.50 | 10/15/21 | 300,000 | 315,166 | |||||||||||
Dollar General Corp. | BBB- | 3.25 | 04/15/23 | 300,000 | 283,334 | |||||||||||
Ethan Allen Global, Inc. | BB- | 5.38 | 10/01/15 | 500,000 | 515,000 | |||||||||||
Expedia, Inc. | BBB- | 5.95 | 08/15/20 | 250,000 | 282,865 | |||||||||||
Family Dollar Stores, Inc. | BBB- | 5.00 | 02/01/21 | 300,000 | 321,925 | |||||||||||
Home Depot, Inc. | A | 5.40 | 03/01/16 | 500,000 | 539,547 | |||||||||||
Hyatt Hotels Corp. | BBB | 3.88 | 08/15/16 | 100,000 | 105,397 | |||||||||||
Kohl’s Corp. | BBB+ | 3.25 | 02/01/23 | 100,000 | 96,745 | |||||||||||
Kohl’s Corp. | BBB+ | 4.00 | 11/01/21 | 100,000 | 104,219 | |||||||||||
Lowe’s Cos., Inc. | A- | 3.12 | 04/15/22 | 300,000 | 304,517 | |||||||||||
Marriott International, Inc. | BBB | 3.25 | 09/15/22 | 350,000 | 346,110 | |||||||||||
NVR, Inc. | BBB | 3.95 | 09/15/22 | 300,000 | 302,321 | |||||||||||
O’Reilly Automotive, Inc. | BBB | 3.80 | 09/01/22 | 300,000 | 306,880 | |||||||||||
Omnicom Group, Inc. | BBB+ | 3.63 | 05/01/22 | 100,000 | 102,877 | |||||||||||
Omnicom Group, Inc. | BBB+ | 4.45 | 08/15/20 | 250,000 | 272,608 | |||||||||||
Staples, Inc. | BBB- | 4.38 | 01/12/23 | 275,000 | 275,938 | |||||||||||
Tupperware Brands Corp. | BBB- | 4.75 | 06/01/21 | 350,000 | 377,817 | |||||||||||
Whirlpool Corp. | BBB | 6.50 | 06/15/16 | 250,000 | 276,603 | |||||||||||
Wynn Las Vegas LLC | BBB- | 5.38 | 03/15/22 | 300,000 | 312,375 | |||||||||||
| ||||||||||||||||
6,017,881 | ||||||||||||||||
| ||||||||||||||||
CONSUMER STAPLES (1.1%) | ||||||||||||||||
Avon Products, Inc. | BBB- | 4.20 | 07/15/18 | 150,000 | 155,811 | |||||||||||
CVS Caremark Corp. | BBB+ | 6.13 | 08/15/16 | 250,000 | 277,642 | |||||||||||
Energizer Hldgs., Inc. | BBB- | 4.70 | 05/19/21 | 275,000 | 283,194 | |||||||||||
Ingredion, Inc. | BBB | 4.63 | 11/01/20 | 250,000 | 269,373 | |||||||||||
Kroger Co. | BBB | 4.95 | 01/15/15 | 500,000 | 511,960 | |||||||||||
Molson Coors Brewing Co. | BBB- | 3.50 | 05/01/22 | 400,000 | 404,336 | |||||||||||
Sysco Corp. | A | 2.60 | 06/12/22 | 300,000 | 291,035 | |||||||||||
| ||||||||||||||||
2,193,351 | ||||||||||||||||
| ||||||||||||||||
ENERGY (2.6%) | ||||||||||||||||
Cameron International Corp. | BBB+ | 4.50 | 06/01/21 | 300,000 | 324,343 | |||||||||||
Diamond Offshore Drilling, Inc. | A | 4.88 | 07/01/15 | 500,000 | 522,296 | |||||||||||
Energen Corp. | BBB- | 4.63 | 09/01/21 | 250,000 | 248,916 | |||||||||||
EQT Corp. | BBB | 4.88 | 11/15/21 | 210,000 | 229,512 | |||||||||||
Kinder Morgan, Inc. | BB | 5.15 | 03/01/15 | 500,000 | 510,625 | |||||||||||
Murphy Oil Corp. | BBB | 2.50 | 12/01/17 | 200,000 | 204,700 | |||||||||||
National Oilwell Varco, Inc. | A | 6.13 | 08/15/15 | 250,000 | 250,270 | |||||||||||
Noble Corp. | BBB+ | 7.50 | 03/15/19 | 800,000 | 933,824 | |||||||||||
Rowan Companies PLC | BBB- | 4.88 | 06/01/22 | 300,000 | 321,347 | |||||||||||
Seacor Hldgs., Inc. | BB- | 7.38 | 10/01/19 | 250,000 | 280,000 | |||||||||||
Sunoco, Inc. | BBB- | 4.88 | 10/15/14 | 500,000 | 505,332 | |||||||||||
Weatherford Int’l. Ltd. | BBB- | 5.50 | 02/15/16 | 500,000 | 536,348 | |||||||||||
| ||||||||||||||||
4,867,513 | ||||||||||||||||
| ||||||||||||||||
FINANCIALS (3.5%) | ||||||||||||||||
Aflac, Inc. | A | 4.00 | 02/15/22 | 300,000 | 321,002 | |||||||||||
Alleghany Corp. | BBB | 5.63 | 09/15/20 | 300,000 | 340,460 | |||||||||||
American Tower Corp. | BBB- | 4.50 | 01/15/18 | 250,000 | 272,398 | |||||||||||
Bank of America Corp. | A- | 3.70 | 09/01/15 | 250,000 | 258,456 | |||||||||||
Barrick N.A. Finance LLC | BBB | 4.40 | 05/30/21 | 250,000 | 261,569 | |||||||||||
Berkley (W.R.) Corp. | BBB+ | 7.38 | 09/15/19 | 250,000 | 304,940 | |||||||||||
Block Financial LLC | BBB | 5.13 | 10/30/14 | 250,000 | 252,915 | |||||||||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 300,000 | 333,748 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
CNA Financial Corp. | BBB | 6.50 | 08/15/16 | 250,000 | 278,456 | |||||||||||
Fairfax Financial Hldgs. | BBB- | 8.25 | 10/01/15 | 500,000 | 539,158 | |||||||||||
First Republic Bank | A- | 2.38 | 06/17/19 | 150,000 | 150,864 | |||||||||||
Health Care REIT, Inc. | BBB | 6.13 | 04/15/20 | 250,000 | 290,630 | |||||||||||
Healthcare Realty Trust | BBB- | 3.75 | 04/15/23 | 250,000 | 244,202 | |||||||||||
Hospitality Properties Trust | BBB- | 5.00 | 08/15/22 | 250,000 | 264,481 | |||||||||||
Moody’s Corp. | BBB+ | 4.50 | 09/01/22 | 250,000 | 262,103 | |||||||||||
Morgan Stanley | A- | 4.00 | 07/24/15 | 250,000 | 258,923 | |||||||||||
National Retail Pptys., Inc. | BBB | 3.80 | 10/15/22 | 250,000 | 254,929 | |||||||||||
Pacific LifeCorp.† | BBB+ | 6.00 | 02/10/20 | 100,000 | 114,207 | |||||||||||
Penske Truck Leasing Co. LP† | BBB- | 3.38 | 03/15/18 | 300,000 | 314,540 | |||||||||||
ProLogis LP | BBB+ | 6.63 | 05/15/18 | 150,000 | 175,065 | |||||||||||
Prudential Financial, Inc. | A | 4.50 | 11/16/21 | 250,000 | 275,212 | |||||||||||
Raymond James Financial, Inc. | BBB | 4.25 | 04/15/16 | 250,000 | 264,050 | |||||||||||
Reckson Operating Partnership | BBB- | 6.00 | 03/31/16 | 100,000 | 107,621 | |||||||||||
Senior Housing Pptys. Trust | BBB- | 4.30 | 01/15/16 | 250,000 | 259,038 | |||||||||||
Ventas Realty LP/Capital Corp. | BBB+ | 4.00 | 04/30/19 | 100,000 | 107,438 | |||||||||||
Ventas Realty LP/Capital Corp. | BBB+ | 4.75 | 06/01/21 | 200,000 | 219,271 | |||||||||||
| ||||||||||||||||
6,725,676 | ||||||||||||||||
| ||||||||||||||||
HEALTH CARE (1.9%) | ||||||||||||||||
Agilent Technologies, Inc. | BBB+ | 5.00 | 07/15/20 | 290,000 | 318,282 | |||||||||||
Allergan, Inc. | A+ | 5.75 | 04/01/16 | 250,000 | 269,335 | |||||||||||
Bio-Rad Laboratories, Inc. | BBB | 4.88 | 12/15/20 | 200,000 | 211,782 | |||||||||||
CIGNA Corp. | A | 2.75 | 11/15/16 | 250,000 | 259,628 | |||||||||||
Hospira, Inc. | BBB- | 6.05 | 03/30/17 | 300,000 | 330,965 | |||||||||||
Laboratory Corp. of America | BBB+ | 5.63 | 12/15/15 | 500,000 | 534,477 | |||||||||||
Medco Health Solutions, Inc. | BBB+ | 4.13 | 09/15/20 | 250,000 | 268,296 | |||||||||||
PerkinElmer, Inc. | BBB | 5.00 | 11/15/21 | 300,000 | 324,284 | |||||||||||
Quest Diagnostics, Inc. | BBB+ | 4.70 | 04/01/21 | 150,000 | 161,789 | |||||||||||
Quest Diagnostics, Inc. | BBB+ | 4.75 | 01/30/20 | 250,000 | 270,447 | |||||||||||
Thermo Fisher Scientific, Inc. | BBB | 3.60 | 08/15/21 | 325,000 | 337,701 | |||||||||||
WellPoint, Inc. | A- | 4.35 | 08/15/20 | 250,000 | 272,828 | |||||||||||
| ||||||||||||||||
3,559,814 | ||||||||||||||||
| ||||||||||||||||
INDUSTRIALS (1.3%) | ||||||||||||||||
CSX Corp. | BBB+ | 6.25 | 04/01/15 | 250,000 | 260,778 | |||||||||||
Dun & Bradstreet Corp. | BBB- | 3.25 | 12/01/17 | 400,000 | 414,203 | |||||||||||
Equifax, Inc. | BBB+ | 3.30 | 12/15/22 | 300,000 | 293,789 | |||||||||||
Harsco Corp. | BB+ | 5.75 | 05/15/18 | 250,000 | 270,625 | |||||||||||
L-3 Communications Corp. | BBB- | 4.75 | 07/15/20 | 250,000 | 273,849 | |||||||||||
Pentair PLC | BBB | 5.00 | 05/15/21 | 250,000 | 276,344 | |||||||||||
Pitney Bowes, Inc. | BBB | 5.25 | 01/15/37 | 250,000 | 271,939 | |||||||||||
URS Corp.† | BBB- | 5.50 | 04/01/22 | 300,000 | 305,699 | |||||||||||
| ||||||||||||||||
2,367,226 | ||||||||||||||||
| ||||||||||||||||
INFORMATION TECHNOLOGY (1.0%) | ||||||||||||||||
Arrow Electronics, Inc. | BBB- | 4.50 | 03/01/23 | 300,000 | 313,544 | |||||||||||
Fiserv, Inc. | BBB | 4.75 | 06/15/21 | 360,000 | 391,631 | |||||||||||
Ingram Micro, Inc. | BBB- | 5.00 | 08/10/22 | 200,000 | 209,306 | |||||||||||
Ingram Micro, Inc. | BBB- | 5.25 | 09/01/17 | 100,000 | 108,678 | |||||||||||
Symantec Corp. | BBB | 4.20 | 09/15/20 | 350,000 | 363,150 | |||||||||||
Tech Data Corp. | BBB- | 3.75 | 09/21/17 | 100,000 | 104,774 | |||||||||||
Western Union Co. | BBB | 5.93 | 10/01/16 | 300,000 | 329,309 | |||||||||||
| ||||||||||||||||
1,820,392 | ||||||||||||||||
| ||||||||||||||||
MATERIALS (1.6%) | ||||||||||||||||
Alcoa, Inc. | BBB- | 6.75 | 07/15/18 | 250,000 | 287,234 | |||||||||||
Freeport-McMoRan Copper & Gold | BBB | 3.55 | 03/01/22 | 300,000 | 297,090 | |||||||||||
Geon Co. | BBB- | 7.50 | 12/15/15 | 1,000,000 | 1,080,000 | |||||||||||
Methanex Corp. | BBB- | 3.25 | 12/15/19 | 250,000 | 255,966 | |||||||||||
Packaging Corp. of America | BBB | 3.90 | 06/15/22 | 250,000 | 256,771 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - COMPOSITE FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Packaging Corp. of America | BBB | 4.50 | 11/01/23 | 150,000 | 160,662 | |||||||||||
Southern Copper Corp. | BBB | 3.50 | 11/08/22 | 100,000 | 97,375 | |||||||||||
Teck Resources Ltd. | BBB | 4.75 | 01/15/22 | 300,000 | 314,785 | |||||||||||
Vulcan Materials Co. | BB | 5.93 | 06/15/18 | 250,000 | 287,813 | |||||||||||
| ||||||||||||||||
3,037,696 | ||||||||||||||||
| ||||||||||||||||
TELECOMMUNICATION SERVICES (0.5%) | ||||||||||||||||
CenturyLink, Inc. | BB | 5.00 | 02/15/15 | 500,000 | 510,625 | |||||||||||
Verizon Communications, Inc. | BBB+ | 4.50 | 09/15/20 | 325,000 | 357,497 | |||||||||||
| ||||||||||||||||
868,122 | ||||||||||||||||
| ||||||||||||||||
UTILITIES (1.1%) | ||||||||||||||||
Constellation Energy | BBB- | 5.15 | 12/01/20 | 340,000 | 383,207 | |||||||||||
Duke Energy Progress, Inc. | A | 5.25 | 12/15/15 | 500,000 | 533,772 | |||||||||||
Entergy Corp. | BBB- | 5.13 | 09/15/20 | 250,000 | 277,468 | |||||||||||
Illinois Power Generating Co. | CCC+ | �� | 6.30 | 04/01/20 | 250,000 | 246,563 | ||||||||||
National Fuel Gas Co. | BBB | 4.90 | 12/01/21 | 250,000 | 272,565 | |||||||||||
SCANA Corp. | BBB | 4.13 | 02/01/22 | 300,000 | 313,681 | |||||||||||
| ||||||||||||||||
2,027,256 | ||||||||||||||||
| ||||||||||||||||
TOTAL LONG-TERM DEBT SECURITIES | 72,397,144 | |||||||||||||||
| ||||||||||||||||
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
COMMERCIAL PAPER (1.9%) | ||||||||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | 500,000 | 499,942 | |||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/19/14 | 1,000,000 | 999,850 | |||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 2,200,000 | 2,200,000 | |||||||||||
| ||||||||||||||||
3,699,792 | ||||||||||||||||
| ||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 3,699,792 | |||||||||||||||
| ||||||||||||||||
TEMPORARY CASH INVESTMENTS (2) | 898,100 | |||||||||||||||
| ||||||||||||||||
TOTAL INVESTMENTS | 189,662,998 | |||||||||||||||
| ||||||||||||||||
OTHER NET ASSETS 0.1% | 265,051 | |||||||||||||||
| ||||||||||||||||
NET ASSETS 100.0% | $189,928,049 | |||||||||||||||
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - RETIREMENT INCOME FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (30.0%) | 8,972,836 | 13,238,379 | ||||||
Equity Index Fund (21.0%) | 2,806,264 | 9,270,635 | ||||||
Mid-Cap Equity Index Fund (5.8%) | 1,147,835 | 2,565,647 | ||||||
Mid-Term Bond Fund (39.0%) | 15,799,729 | 17,147,193 | ||||||
Money Market Fund (4.2%) | 1,551,579 | 1,858,705 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 44,080,559 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (284) | |||||||
|
| |||||||
NET ASSETS 100.0% | $44,080,275 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2010 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.5%) | 4,154,861 | 6,130,016 | ||||||
Equity Index Fund (26.0%) | 1,969,796 | 6,507,321 | ||||||
International Fund (3.2%) | 929,397 | 810,619 | ||||||
Mid-Cap Equity Index Fund (9.9%) | 1,103,335 | 2,466,179 | ||||||
Mid-Term Bond Fund (32.2%) | 7,408,066 | 8,039,856 | ||||||
Money Market Fund (4.2%) | 880,048 | 1,054,248 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 25,008,239 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (166) | |||||||
|
| |||||||
NET ASSETS 100.0% | $25,008,073 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2015 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.0%) | 23,144,424 | 34,146,914 | ||||||
Equity Index Fund (28.5%) | 12,277,361 | 40,558,886 | ||||||
International Fund (6.0%) | 9,757,089 | 8,510,124 | ||||||
Mid-Cap Equity Index Fund (11.6%) | 7,399,587 | 16,539,594 | ||||||
Mid-Term Bond Fund (26.9%) | 35,267,466 | 38,275,217 | ||||||
Small Cap Growth Fund (1.5%) | 1,359,597 | 2,174,131 | ||||||
Small Cap Value Fund (1.5%) | 1,208,492 | 2,155,622 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 142,360,488 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,718) | |||||||
|
| |||||||
NET ASSETS 100.0% | $142,358,770 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2020 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (24.0%) | 45,282,055 | 66,808,420 | ||||||
Equity Index Fund (33.5%) | 28,220,340 | 93,227,332 | ||||||
International Fund (9.0%) | 28,623,593 | 24,965,469 | ||||||
Mid-Cap Equity Index Fund (11.6%) | 14,465,759 | 32,333,936 | ||||||
Mid-Term Bond Fund (16.9%) | 43,454,810 | 47,160,810 | ||||||
Small Cap Growth Fund (2.5%) | 4,425,289 | 7,076,479 | ||||||
Small Cap Value Fund (2.5%) | 3,933,689 | 7,016,636 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 278,589,082 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,768) | |||||||
|
| |||||||
NET ASSETS 100.0% | $278,587,314 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2025 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (21.9%) | 42,829,199 | 63,189,515 | ||||||
Equity Index Fund (37.9%) | 33,043,466 | 109,160,774 | ||||||
International Fund (9.5%) | 31,192,110 | 27,205,727 | ||||||
Mid-Cap Equity Index Fund (16.6%) | 21,431,714 | 47,904,275 | ||||||
Mid-Term Bond Fund (7.0%) | 18,464,825 | 20,039,579 | ||||||
Small Cap Growth Fund (3.6%) | 6,406,552 | 10,244,717 | ||||||
Small Cap Value Fund (3.5%) | 5,694,566 | 10,157,562 | ||||||
|
| |||||||
TOTAL INVESTMENTS (Cost: $227,437,172) 100.0% | 287,902,149 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,845) | |||||||
|
| |||||||
NET ASSETS 100.0% | $287,900,304 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2030 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (22.0%) | 35,695,594 | 52,664,709 | ||||||
Equity Index Fund (40.6%) | 29,522,551 | 97,529,253 | ||||||
International Fund (9.7%) | 26,674,754 | 23,265,693 | ||||||
Mid-Cap Equity Index Fund (17.6%) | 18,936,373 | 42,326,676 | ||||||
Small Cap Growth Fund (5.1%) | 7,629,054 | 12,199,621 | ||||||
Small Cap Value Fund (5.0%) | 6,781,588 | 12,096,515 | ||||||
|
| |||||||
TOTAL INVESTMENTS (Cost: $184,360,252) 100.0% | 240,082,467 | |||||||
|
| |||||||
OTHER NET ASSETS -0.0% (3) | (1,510) | |||||||
|
| |||||||
NET ASSETS 100.0% | $240,080,957 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2035 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (15.0%) | 20,125,670 | 29,693,091 | ||||||||
Equity Index Fund (40.6%) | 24,407,989 | 80,633,037 | ||||||||
International Fund (11.7%) | 26,576,504 | 23,180,000 | ||||||||
Mid-Cap Equity Index Fund (20.6%) | 18,340,236 | 40,994,187 | ||||||||
Small Cap Growth Fund (6.1%) | 7,568,952 | 12,103,511 | ||||||||
Small Cap Value Fund (6.0%) | 6,728,106 | 12,001,118 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $149,410,147) 100.0% | 198,604,944 | |||||||||
|
| |||||||||
OTHER NET ASSETS -0.0% (3) | (1,240) | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $198,603,704 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2040 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (10.9%) | 12,314,839 | 18,169,117 | ||||||||
Equity Index Fund (35.6%) | 17,870,138 | 59,034,913 | ||||||||
International Fund (13.7%) | 25,950,907 | 22,634,355 | ||||||||
Mid-Cap Equity Index Fund (23.6%) | 17,546,585 | 39,220,215 | ||||||||
Small Cap Growth Fund (8.1%) | 8,421,789 | 13,467,283 | ||||||||
Small Cap Value Fund (8.1%) | 7,486,086 | 13,353,149 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $121,492,755) 100.0% | 165,879,032 | |||||||||
|
| |||||||||
OTHER NET ASSETS -0.0% (3) | (1,047) | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $165,877,985 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2045 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (9.0%) | 12,797,821 | 18,881,700 | ||||||||
Equity Index Fund (35.6%) | 22,695,064 | 74,974,302 | ||||||||
International Fund (15.6%) | 37,750,713 | 32,926,134 | ||||||||
Mid-Cap Equity Index Fund (21.6%) | 20,387,478 | 45,570,194 | ||||||||
Small Cap Growth Fund (9.1%) | 12,032,754 | 19,241,577 | ||||||||
Small Cap Value Fund (9.1%) | 10,695,835 | 19,078,470 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $153,389,256) 100.0% | 210,672,377 | |||||||||
|
| |||||||||
OTHER NET ASSETS -0.0% (3) | (1,287) | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $210,671,090 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - 2050 RETIREMENT FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (7.2%) | 1,544,828 | 2,279,214 | ||||||||
Equity Index Fund (35.5%) | 3,389,324 | 11,196,806 | ||||||||
International Fund (16.9%) | 6,088,177 | 5,310,102 | ||||||||
Mid-Cap Equity Index Fund (20.1%) | 2,834,055 | 6,334,693 | ||||||||
Small Cap Growth Fund (10.2%) | 1,997,305 | 3,193,891 | ||||||||
Small Cap Value Fund (10.1%) | 1,775,757 | 3,167,469 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $27,774,228) 100.0% | 31,482,175 | |||||||||
|
| |||||||||
OTHER NET ASSETS -0.0% (3) | (158) | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $31,482,017 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - CONSERVATIVE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares
| Value
| |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (29.8%) | 21,567,827 | 31,820,826 | ||||||||
Equity Index Fund (25.5%) | 8,262,042 | 27,294,076 | ||||||||
International Fund (5.0%) | 6,148,541 | 5,362,752 | ||||||||
Mid-Cap Equity Index Fund (5.2%) | 2,477,366 | 5,537,422 | ||||||||
Mid-Term Bond Fund (34.5%) | 34,014,970 | 36,915,903 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $96,183,851) 100.0% | 106,930,979 | |||||||||
|
| |||||||||
OTHER NET ASSETS | - | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $106,930,979 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - MODERATE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||||
COMMON STOCKS: | ||||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||||
Mutual of America Investment Corporation | ||||||||||
Bond Fund (24.6%) | 50,541,684 | 74,568,393 | ||||||||
Equity Index Fund (35.4%) | 32,533,862 | 107,477,271 | ||||||||
International Fund (9.9%) | 34,584,555 | 30,164,614 | ||||||||
Mid-Cap Equity Index Fund (15.4%) | 20,904,930 | 46,726,805 | ||||||||
Mid-Term Bond Fund (14.7%) | 40,992,338 | 44,488,329 | ||||||||
|
| |||||||||
TOTAL INVESTMENTS (Cost: $239,660,643) 100.0% | 303,425,412 | |||||||||
|
| |||||||||
OTHER NET ASSETS | - | |||||||||
|
| |||||||||
NET ASSETS 100.0% | $303,425,412 | |||||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - AGGRESSIVE ALLOCATION FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Shares | Value | |||||||
COMMON STOCKS: | ||||||||
DIVERSIFIED MUTUAL FUNDS (100.0%) | ||||||||
Mutual of America Investment Corporation | ||||||||
Bond Fund (19.5%) | 33,219,790 | 49,011,947 | ||||||
Equity Index Fund (35.2%) | 26,730,188 | 88,304,540 | ||||||
International Fund (14.8%) | 42,621,808 | 37,174,698 | ||||||
Mid-Cap Equity Index Fund (20.4%) | 22,901,319 | 51,189,143 | ||||||
Small Cap Growth Fund (5.1%) | 8,061,241 | 12,890,731 | ||||||
Small Cap Value Fund (5.0%) | 7,098,317 | 12,661,473 | ||||||
|
| |||||||
TOTAL INVESTMENTS | 251,232,532 | |||||||
|
| |||||||
OTHER NET ASSETS | - | |||||||
|
| |||||||
NET ASSETS 100.0% | $251,232,532 | |||||||
|
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - MONEY MARKET FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||||
U.S. GOVERNMENT AGENCIES (12.1%) | ||||||||||||||||
FHLB | A-1+ | 0.05 | 07/11/14 | 2,200,000 | 2,199,973 | |||||||||||
FHLB | A-1+ | 0.07 | 08/15/14 | 7,500,000 | 7,499,341 | |||||||||||
| ||||||||||||||||
9,699,314 | ||||||||||||||||
| ||||||||||||||||
COMMERCIAL PAPER (87.8%) | ||||||||||||||||
Abbott Laboratories† | A-1+ | 0.10 | 07/29/14 | 3,200,000 | 3,199,751 | |||||||||||
Air Products & Chemicals† | A-1 | 0.10 | 09/03/14 | 3,200,000 | 3,199,316 | |||||||||||
Apple, Inc.† | A-1+ | 0.08 | 07/31/14 | 3,200,000 | 3,199,787 | |||||||||||
Chevron Corp.† | A-1+ | 0.09 | 09/09/14 | 3,200,000 | 3,199,260 | |||||||||||
Coca-Cola Co.† | A-1+ | 0.10 | 08/21/14 | 3,000,000 | 2,999,575 | |||||||||||
Danaher Corp.† | A-1 | 0.09 | 07/10/14 | 3,200,000 | 3,199,928 | |||||||||||
Dover Corp.† | A-1 | 0.09 | 07/01/14 | 2,500,000 | 2,500,000 | |||||||||||
eBay, Inc.† | A-1 | 0.10 | 08/12/14 | 3,200,000 | 3,199,627 | |||||||||||
Emerson Electric Co.† | A-1 | 0.11 | 08/22/14 | 3,200,000 | 3,199,492 | |||||||||||
Exxon Mobil Corp. | A-1+ | 0.08 | 07/31/14 | 3,200,000 | 3,199,787 | |||||||||||
General Electric Capital Corp. | A-1+ | 0.11 | 08/26/14 | 3,200,000 | 3,199,452 | |||||||||||
General Re Corp. | A-1+ | 0.11 | 09/10/14 | 3,200,000 | 3,199,306 | |||||||||||
Int’l. Business Machines Corp.† | A-1+ | 0.10 | 09/10/14 | 1,650,000 | 1,649,593 | |||||||||||
Microsoft Corp.† | A-1+ | 0.08 | 07/30/14 | 3,200,000 | 3,199,794 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/17/14 | 800,000 | 799,968 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/22/14 | 1,400,000 | 1,399,927 | |||||||||||
National Rural Utilities | A-1 | 0.09 | 07/29/14 | 1,000,000 | 999,930 | |||||||||||
Piedmont Natural Gas Co.† | A-1 | 0.11 | 07/02/14 | 2,200,000 | 2,199,993 | |||||||||||
Precision Castparts Corp.† | A-1 | 0.09 | 07/18/14 | 1,500,000 | 1,499,936 | |||||||||||
Precision Castparts Corp.† | A-1 | 0.10 | 08/01/14 | 1,700,000 | 1,699,854 | |||||||||||
Procter & Gamble Co.† | A-1+ | 0.08 | 07/28/14 | 3,200,000 | 3,199,808 | |||||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 3,200,000 | 3,200,000 | |||||||||||
Southern California Gas Co.† | A-1 | 0.11 | 07/01/14 | 3,200,000 | 3,200,000 | |||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/03/14 | 1,700,000 | 1,699,703 | |||||||||||
Toyota Motor Credit Corp. | A-1+ | 0.10 | 09/04/14 | 1,500,000 | 1,499,719 | |||||||||||
Wells Fargo & Co. | A-1 | 0.15 | 08/01/14 | 3,200,000 | 3,199,587 | |||||||||||
Wisconsin Gas Co. | A-1 | 0.14 | 07/07/14 | 3,200,000 | 3,199,925 | |||||||||||
| ||||||||||||||||
70,143,018 | ||||||||||||||||
| ||||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 79,842,332 | |||||||||||||||
| ||||||||||||||||
TEMPORARY CASH INVESTMENTS (2) | 43,400 | |||||||||||||||
| ||||||||||||||||
TOTAL INVESTMENTS | �� | 79,885,732 | ||||||||||||||
| ||||||||||||||||
OTHER NET ASSETS -0.0% (3) | (1,846) | |||||||||||||||
| ||||||||||||||||
NET ASSETS 100.0% | $79,883,886 | |||||||||||||||
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-TERM BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||
LONG-TERM DEBT SECURITIES: | ||||||||||
U.S. GOVERNMENT (33.7%) | ||||||||||
U.S. Treasury Note | AA+ | 0.63 | 11/30/17 | 5,000,000 | 4,923,440 | |||||
U.S. Treasury Note | AA+ | 0.88 | 07/31/19 | 5,000,000 | 4,807,810 | |||||
U.S. Treasury Note | AA+ | 1.00 | 08/31/19 | 8,500,000 | 8,210,473 | |||||
U.S. Treasury Note | AA+ | 1.25 | 11/30/18 | 18,000,000 | 17,836,879 | |||||
U.S. Treasury Note | AA+ | 1.88 | 10/31/17 | 5,000,000 | 5,138,670 | |||||
U.S. Treasury Note | AA+ | 2.00 | 11/30/20 | 9,000,000 | 8,995,077 | |||||
U.S. Treasury Note | AA+ | 2.25 | 11/30/17 | 3,500,000 | 3,637,540 | |||||
U.S. Treasury Note | AA+ | 3.00 | 02/28/17 | 14,500,000 | 15,365,475 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/17 | 15,000,000 | 14,546,745 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 11/15/17 | 5,000,000 | 4,818,010 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/18 | 55,000,000 | 51,911,910 | |||||
| ||||||||||
140,192,029 | ||||||||||
| ||||||||||
U.S. GOVERNMENT AGENCIES (5.8%) | ||||||||||
MORTGAGE-BACKED OBLIGATIONS (0.0%) (3) | ||||||||||
FHLMC | AA+ | 7.50 | 03/15/21 | 5,603 | 6,281 | |||||
FHLMC | AA+ | 8.00 | 09/01/18 | 775 | 780 | |||||
FHLMC | AA+ | 8.50 | 09/01/17 | 7 | 7 | |||||
| ||||||||||
7,068 | ||||||||||
| ||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (5.8%) | ||||||||||
FFCB | AA+ | 4.95 | 10/10/14 | 12,500,000 | 12,667,150 | |||||
FHLMC | AA+ | 0.00 | 11/29/19 | 1,850,000 | 1,620,385 | |||||
FNMA | AA+ | 0.00 | 10/09/19 | 10,342,000 | 9,088,198 | |||||
Tennessee Valley Auth. Strip | AA+ | 0.00 | 11/01/20 | 900,000 | 770,810 | |||||
| ||||||||||
24,146,543 | ||||||||||
| ||||||||||
CORPORATE DEBT (59.8%) | ||||||||||
CONSUMER DISCRETIONARY (8.2%) | ||||||||||
Advance Auto Parts, Inc. | BBB- | 4.50 | 01/15/22 | 500,000 | 533,040 | |||||
Advance Auto Parts, Inc. | BBB- | 5.75 | 05/01/20 | 1,500,000 | 1,720,836 | |||||
AutoZone, Inc. | BBB | 3.70 | 04/15/22 | 300,000 | 308,732 | |||||
AutoZone, Inc. | BBB | 4.00 | 11/15/20 | 700,000 | 744,484 | |||||
Brinker International, Inc. | BBB- | 2.60 | 05/15/18 | 2,000,000 | 1,999,992 | |||||
Carnival Corp. | BBB+ | 1.88 | 12/15/17 | 2,000,000 | 2,011,568 | |||||
Darden Restaurants, Inc. | BBB- | 4.50 | 10/15/21 | 1,750,000 | 1,838,468 | |||||
Dollar General Corp. | BBB- | 3.25 | 04/15/23 | 1,047,000 | 988,834 | |||||
Ethan Allen Global, Inc. | BB- | 5.38 | 10/01/15 | 500,000 | 515,000 | |||||
Expedia, Inc. | BBB- | 5.95 | 08/15/20 | 2,000,000 | 2,262,916 | |||||
Family Dollar Stores, Inc. | BBB- | 5.00 | 02/01/21 | 2,000,000 | 2,146,168 | |||||
Home Depot, Inc. | A | 5.40 | 03/01/16 | 250,000 | 269,773 | |||||
Hyatt Hotels Corp. | BBB | 3.88 | 08/15/16 | 1,525,000 | 1,607,301 | |||||
Hyatt Hotels Corp. | BBB | 5.38 | 08/15/21 | 50,000 | 56,456 | |||||
Kohl’s Corp. | BBB+ | 3.25 | 02/01/23 | 700,000 | 677,214 | |||||
Kohl’s Corp. | BBB+ | 4.00 | 11/01/21 | 1,325,000 | 1,380,902 | |||||
Marriott International, Inc. | BBB | 3.00 | 03/01/19 | 1,200,000 | 1,240,702 | |||||
Marriott International, Inc. | BBB | 3.38 | 10/15/20 | 800,000 | 829,453 | |||||
Mattel, Inc. | BBB+ | 1.70 | 03/15/18 | 2,000,000 | 1,991,450 | |||||
Newell Rubbermaid, Inc. | BBB- | 4.70 | 08/15/20 | 500,000 | 541,810 | |||||
O’Reilly Automotive, Inc. | BBB | 4.63 | 09/15/21 | 281,000 | 303,663 | |||||
Omnicom Group, Inc. | BBB+ | 3.63 | 05/01/22 | 2,000,000 | 2,057,542 | |||||
Staples, Inc. | BBB- | 2.75 | 01/12/18 | 1,750,000 | 1,768,697 | |||||
Tupperware Brands Corp. | BBB- | 4.75 | 06/01/21 | 2,000,000 | 2,158,954 | |||||
Whirlpool Corp. | BBB | 2.40 | 03/01/19 | 1,445,000 | 1,454,199 | |||||
Whirlpool Corp. | BBB | 6.50 | 06/15/16 | 500,000 | 553,207 | |||||
Wynn Las Vegas LLC | BBB- | 5.38 | 03/15/22 | 2,000,000 | 2,082,500 | |||||
| ||||||||||
34,043,861 | ||||||||||
| ||||||||||
CONSUMER STAPLES (3.8%) | ||||||||||
Avon Products, Inc. | BBB- | 4.60 | 03/15/20 | 1,800,000 | 1,866,604 | |||||
Beam, Inc. | BBB- | 1.75 | 06/15/18 | 2,000,000 | 1,971,352 | |||||
Clorox Co. | BBB+ | 5.00 | 01/15/15 | 300,000 | 307,249 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-TERM BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
CVS Caremark Corp. | BBB+ | 6.13 | 08/15/16 | 500,000 | 555,284 | |||||
Dr. Pepper Snapple Group, Inc. | BBB+ | 2.60 | 01/15/19 | 150,000 | 152,383 | |||||
Energizer Hldgs., Inc. | BBB- | 4.70 | 05/19/21 | 2,000,000 | 2,059,592 | |||||
Flowers Foods, Inc. | BBB- | 4.38 | 04/01/22 | 1,500,000 | 1,576,152 | |||||
Hershey Co. | A | 4.85 | 08/15/15 | 500,000 | 525,089 | |||||
Ingredion, Inc. | BBB | 4.63 | 11/01/20 | 275,000 | 296,310 | |||||
Kroger Co. | BBB | 4.95 | 01/15/15 | 500,000 | 511,960 | |||||
Mead Johnson Nutrition Co. | BBB | 4.90 | 11/01/19 | 3,075,000 | 3,416,783 | |||||
Molson Coors Brewing Co. | BBB- | 3.50 | 05/01/22 | 400,000 | 404,336 | |||||
Safeway, Inc. | BBB | 3.95 | 08/15/20 | 2,000,000 | 2,037,562 | |||||
| ||||||||||
15,680,656 | ||||||||||
| ||||||||||
ENERGY (3.6%) | ||||||||||
Diamond Offshore Drilling, Inc. | A | 4.88 | 07/01/15 | 500,000 | 522,296 | |||||
Energen Corp. | BBB- | 4.63 | 09/01/21 | 2,000,000 | 1,991,330 | |||||
EQT Corp. | BBB | 4.88 | 11/15/21 | 1,250,000 | 1,366,141 | |||||
Kinder Morgan, Inc. | BB | 5.15 | 03/01/15 | 250,000 | 255,313 | |||||
Marathon Petroleum Corp. | BBB | 3.50 | 03/01/16 | 1,500,000 | 1,566,431 | |||||
Murphy Oil Corp. | BBB | 2.50 | 12/01/17 | 2,000,000 | 2,047,000 | |||||
National Oilwell Varco, Inc. | A | 6.13 | 08/15/15 | 1,000,000 | 1,001,078 | |||||
Rowan Companies PLC | BBB- | 4.88 | 06/01/22 | 2,000,000 | 2,142,316 | |||||
SESI LLC | BBB- | 7.13 | 12/15/21 | 2,000,000 | 2,255,000 | |||||
Sunoco, Inc. | BBB- | 4.88 | 10/15/14 | 500,000 | 505,332 | |||||
Sunoco, Inc. | BBB- | 5.75 | 01/15/17 | 290,000 | 319,373 | |||||
Sunoco, Inc. | BBB- | 9.63 | 04/15/15 | 500,000 | 533,275 | |||||
Weatherford Int’l. Ltd. | BBB- | 5.50 | 02/15/16 | 500,000 | 536,348 | |||||
| ||||||||||
15,041,233 | ||||||||||
| ||||||||||
FINANCIALS (16.9%) | ||||||||||
Aflac, Inc. | A | 2.65 | 02/15/17 | 1,500,000 | 1,558,749 | |||||
Aflac, Inc. | A | 3.63 | 06/15/23 | 500,000 | 510,317 | |||||
Alleghany Corp. | BBB | 4.95 | 06/27/22 | 2,000,000 | 2,177,400 | |||||
American Tower Corp. | BBB- | 4.50 | 01/15/18 | 2,000,000 | 2,179,184 | |||||
Bank of America Corp. | A- | 2.65 | 04/01/19 | 1,250,000 | 1,267,000 | |||||
Bank of America Corp. | A- | 3.70 | 09/01/15 | 250,000 | 258,456 | |||||
Bank of America Corp. | BBB+ | 5.75 | 08/15/16 | 500,000 | 545,538 | |||||
Barrick N.A. Finance LLC | BBB | 4.40 | 05/30/21 | 2,000,000 | 2,092,548 | |||||
Berkley (W.R.) Corp. | BBB+ | 4.63 | 03/15/22 | 2,000,000 | 2,148,404 | |||||
Block Financial LLC | BBB | 5.13 | 10/30/14 | 750,000 | 758,744 | |||||
Boston Properties LP | A- | 3.70 | 11/15/18 | 1,970,000 | 2,103,042 | |||||
Bunge Ltd. Finance Corp. | BBB- | 5.10 | 07/15/15 | 1,000,000 | 1,041,575 | |||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 2,000,000 | 2,224,984 | |||||
Citigroup, Inc. | A- | 2.55 | 04/08/19 | 1,850,000 | 1,864,467 | |||||
CNA Financial Corp. | BBB | 5.85 | 12/15/14 | 200,000 | 204,996 | |||||
CNA Financial Corp. | BBB | 6.50 | 08/15/16 | 1,000,000 | 1,113,824 | |||||
Erac USA Finance Co.† | BBB+ | 2.75 | 03/15/17 | 1,000,000 | 1,031,288 | |||||
ERP Operating LP | BBB+ | 5.38 | 08/01/16 | 500,000 | 546,128 | |||||
Fairfax Financial Hldgs. | BBB- | 8.25 | 10/01/15 | 742,000 | 800,110 | |||||
Fairfax Financial Hldgs.† | BBB- | 5.80 | 05/15/21 | 1,274,000 | 1,377,386 | |||||
First Republic Bank | A- | 2.38 | 06/17/19 | 2,000,000 | 2,011,520 | |||||
Ford Motor Credit Co. LLC | BBB- | 3.00 | 06/12/17 | 2,000,000 | 2,086,500 | |||||
Fosters Finance Corp.† | BBB+ | 4.88 | 10/01/14 | 500,000 | 505,414 | |||||
General Electric Capital Corp. | AA+ | 5.00 | 01/08/16 | 500,000 | 533,052 | |||||
Goldman Sachs Group, Inc. | A- | 3.70 | 08/01/15 | 900,000 | 928,277 | |||||
Harley-Davidson Financial Svcs.† | A- | 3.88 | 03/15/16 | 500,000 | 524,601 | |||||
HCP, Inc. | BBB+ | 6.00 | 01/30/17 | 1,250,000 | 1,399,295 | |||||
Health Care REIT, Inc. | BBB | 3.63 | 03/15/16 | 2,000,000 | 2,090,408 | |||||
Healthcare Realty Trust | BBB- | 5.75 | 01/15/21 | 2,000,000 | 2,261,874 | |||||
Hospitality Properties Trust | BBB- | 5.63 | 03/15/17 | 566,000 | 619,456 | |||||
Huntington National Bank | BBB+ | 1.35 | 08/02/16 | 1,995,000 | 2,009,013 | |||||
Jones Lang LaSalle, Inc. | BBB- | 4.40 | 11/15/22 | 235,000 | 237,462 | |||||
Kemper Corp. | BBB- | 6.00 | 11/30/15 | 1,500,000 | 1,601,426 | |||||
Mack-Cali Realty LP | BBB- | 5.80 | 01/15/16 | 1,000,000 | 1,065,186 | |||||
Moody’s Corp. | BBB+ | 5.50 | 09/01/20 | 2,000,000 | 2,274,000 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-TERM BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Morgan Stanley | A- | 4.00 | 07/24/15 | 1,000,000 | 1,035,691 | |||||
Nasdaq OMX Group, Inc. | BBB | 5.55 | 01/15/20 | 2,000,000 | 2,219,064 | |||||
Nissan Motor Acceptance Corp.† | BBB+ | 4.50 | 01/30/15 | 790,000 | 807,170 | |||||
Odyssey Re Hldgs. Corp. | BBB- | 6.88 | 05/01/15 | 250,000 | 260,223 | |||||
Penske Truck Leasing Co. LP† | BBB- | 3.38 | 03/15/18 | 1,300,000 | 1,363,006 | |||||
Penske Truck Leasing Co. LP† | BBB- | 3.75 | 05/11/17 | 490,000 | 520,656 | |||||
ProLogis LP | BBB+ | 6.63 | 05/15/18 | 1,500,000 | 1,750,655 | |||||
Protective Life Corp. | A- | 4.88 | 11/01/14 | 1,000,000 | 1,011,482 | |||||
Prudential Financial, Inc. | A | 4.75 | 09/17/15 | 1,000,000 | 1,049,515 | |||||
Raymond James Financial, Inc. | BBB | 4.25 | 04/15/16 | 1,600,000 | 1,689,918 | |||||
Reckson Operating Partnership | BBB- | 6.00 | 03/31/16 | 1,700,000 | 1,829,560 | |||||
Reinsurance Grp. of America, Inc. | A- | 5.63 | 03/15/17 | 1,500,000 | 1,637,963 | |||||
Senior Housing Pptys. Trust | BBB- | 4.30 | 01/15/16 | 1,650,000 | 1,709,652 | |||||
Simon Property Group LP | A | 2.80 | 01/30/17 | 1,500,000 | 1,563,569 | |||||
Ventas Realty LP/Capital Corp. | BBB+ | 4.00 | 04/30/19 | 1,700,000 | 1,826,449 | |||||
Vornado Realty LP | BBB | 2.50 | 06/30/19 | 500,000 | 500,803 | |||||
Vornado Realty LP | BBB | 4.25 | 04/01/15 | 1,500,000 | 1,525,589 | |||||
Wells Fargo & Co. | A+ | 2.13 | 04/22/19 | 2,000,000 | 2,006,836 | |||||
Zions Bancorporation | BBB- | 4.50 | 03/27/17 | 400,000 | 426,884 | |||||
| ||||||||||
70,686,309 | ||||||||||
| ||||||||||
HEALTH CARE (6.1%) | ||||||||||
Agilent Technologies, Inc. | BBB+ | 5.00 | 07/15/20 | 2,000,000 | 2,195,046 | |||||
Allergan, Inc. | A+ | 5.75 | 04/01/16 | 500,000 | 538,670 | |||||
Baxter International, Inc. | A- | 4.63 | 03/15/15 | 250,000 | 257,490 | |||||
Bio-Rad Laboratories, Inc. | BBB | 4.88 | 12/15/20 | 2,000,000 | 2,117,820 | |||||
Biogen Idec, Inc. | A- | 6.88 | 03/01/18 | 1,250,000 | 1,471,496 | |||||
CareFusion Corp. | BBB | 1.45 | 05/15/17 | 2,000,000 | 1,998,506 | |||||
CIGNA Corp. | A | 2.75 | 11/15/16 | 1,750,000 | 1,817,398 | |||||
Express Scripts Hldg. Co. | BBB+ | 2.25 | 06/15/19 | 2,000,000 | 1,991,636 | |||||
Hospira, Inc. | BBB- | 6.05 | 03/30/17 | 2,000,000 | 2,206,430 | |||||
Humana, Inc. | BBB+ | 6.45 | 06/01/16 | 1,415,000 | 1,558,552 | |||||
Laboratory Corp. of America | BBB+ | 3.13 | 05/15/16 | 500,000 | 520,770 | |||||
Laboratory Corp. of America | BBB+ | 3.75 | 08/23/22 | 600,000 | 607,120 | |||||
Laboratory Corp. of America | BBB+ | 4.63 | 11/15/20 | 400,000 | 432,604 | |||||
Laboratory Corp. of America | BBB+ | 5.63 | 12/15/15 | 500,000 | 534,477 | |||||
Lilly (Eli) & Co. | AA- | 5.20 | 03/15/17 | 500,000 | 556,200 | |||||
PerkinElmer, Inc. | BBB | 5.00 | 11/15/21 | 2,000,000 | 2,161,894 | |||||
Quest Diagnostics, Inc. | BBB+ | 4.75 | 01/30/20 | 2,000,000 | 2,163,572 | |||||
Thermo Fisher Scientific, Inc. | BBB | 3.60 | 08/15/21 | 400,000 | 415,632 | |||||
Thermo Fisher Scientific, Inc. | BBB | 4.50 | 03/01/21 | 1,600,000 | 1,755,421 | |||||
| ||||||||||
25,300,734 | ||||||||||
| ||||||||||
INDUSTRIALS (6.3%) | ||||||||||
CSX Corp. | BBB+ | 6.25 | 04/01/15 | 1,000,000 | 1,043,113 | |||||
Dun & Bradstreet Corp. | BBB- | 3.25 | 12/01/17 | 2,000,000 | 2,071,014 | |||||
Equifax, Inc. | BBB+ | 3.30 | 12/15/22 | 2,000,000 | 1,958,594 | |||||
Flowserve Corp. | BBB- | 3.50 | 09/15/22 | 2,000,000 | 1,975,198 | |||||
GATX Corp. | BBB | 6.00 | 02/15/18 | 2,050,000 | 2,313,462 | |||||
Harsco Corp. | BB+ | 5.75 | 05/15/18 | 2,250,000 | 2,435,625 | |||||
Kennametal, Inc. | BBB | 2.65 | 11/01/19 | 2,000,000 | 1,997,032 | |||||
L-3 Communications Corp. | BBB- | 5.20 | 10/15/19 | 2,000,000 | 2,249,974 | |||||
Masco Corp. | BBB- | 4.80 | 06/15/15 | 500,000 | 517,560 | |||||
Pitney Bowes, Inc. | BBB | 5.25 | 01/15/37 | 1,500,000 | 1,631,634 | |||||
Ryder System, Inc. | BBB | 7.20 | 09/01/15 | 1,000,000 | 1,073,073 | |||||
Southwest Airlines Co. | BBB- | 5.25 | 10/01/14 | 500,000 | 505,286 | |||||
Southwest Airlines Co. | BBB- | 5.75 | 12/15/16 | 735,000 | 811,925 | |||||
Textron, Inc. | BBB- | 4.63 | 09/21/16 | 750,000 | 803,951 | |||||
Union Pacific Corp. | A | 4.88 | 01/15/15 | 500,000 | 512,204 | |||||
URS Corp. | BBB- | 3.85 | 04/01/17 | 1,700,000 | 1,771,791 | |||||
URS Corp. | BBB- | 5.00 | 04/01/22 | 300,000 | 305,699 | |||||
Valmont Industries, Inc. | BBB | 6.63 | 04/20/20 | 2,000,000 | 2,376,596 | |||||
| ||||||||||
26,353,731 | ||||||||||
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - MID-TERM BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
INFORMATION TECHNOLOGY (6.2%) | ||||||||||
Adobe Systems, Inc. | A- | 4.75 | 02/01/20 | 2,000,000 | 2,224,632 | |||||
Amphenol Corp. | BBB+ | 2.55 | 01/30/19 | 2,000,000 | 2,028,112 | |||||
Arrow Electronics, Inc. | BBB- | 3.00 | 03/01/18 | 1,250,000 | 1,292,375 | |||||
Arrow Electronics, Inc. | BBB- | 4.50 | 03/01/23 | 50,000 | 52,257 | |||||
Arrow Electronics, Inc. | BBB- | 6.88 | 06/01/18 | 700,000 | 810,384 | |||||
Avnet, Inc. | BBB- | 5.88 | 06/15/20 | 950,000 | 1,071,382 | |||||
Avnet, Inc. | BBB- | 6.00 | 09/01/15 | 980,000 | 1,035,195 | |||||
Fiserv, Inc. | BBB | 4.75 | 06/15/21 | 1,900,000 | 2,066,944 | |||||
FLIR Systems, Inc. | BBB | 3.75 | 09/01/16 | 2,000,000 | 2,106,636 | |||||
Ingram Micro, Inc. | BBB- | 5.25 | 09/01/17 | 1,500,000 | 1,630,166 | |||||
Jabil Circuit, Inc. | BBB- | 4.70 | 09/15/22 | 726,000 | 735,075 | |||||
Lexmark International, Inc. | BBB- | 6.65 | 06/01/18 | 2,000,000 | 2,268,834 | |||||
Motorola Solutions, Inc. | BBB | 3.75 | 05/15/22 | 2,000,000 | 1,988,344 | |||||
Symantec Corp. | BBB | 4.20 | 09/15/20 | 2,000,000 | 2,075,144 | |||||
Tech Data Corp. | BBB- | 3.75 | 09/21/17 | 2,000,000 | 2,095,474 | |||||
Western Union Co. | BBB | 5.93 | 10/01/16 | 2,000,000 | 2,195,394 | |||||
| ||||||||||
25,676,348 | ||||||||||
| ||||||||||
MATERIALS (5.0%) | ||||||||||
Airgas, Inc. | BBB | 3.25 | 10/01/15 | 1,500,000 | 1,546,277 | |||||
Albemarle Corp. | BBB+ | 4.50 | 12/15/20 | 1,000,000 | 1,072,243 | |||||
Alcoa, Inc. | BBB- | 6.75 | 07/15/18 | 2,000,000 | 2,297,868 | |||||
Eastman Chemical Co. | BBB | 2.40 | 06/01/17 | 2,000,000 | 2,059,068 | |||||
Freeport-McMoRan Copper & Gold | BBB | 3.10 | 03/15/20 | 1,750,000 | 1,767,302 | |||||
Freeport-McMoRan Copper & Gold | BBB | 3.55 | 03/01/22 | 250,000 | 247,575 | |||||
Goldcorp, Inc. | BBB+ | 2.13 | 03/15/18 | 2,000,000 | 2,006,032 | |||||
Kinross Gold Corp. | NR | 3.63 | 09/01/16 | 2,000,000 | 2,083,838 | |||||
Kinross Gold Corp. | BBB- | 5.13 | 09/01/21 | 750,000 | 776,850 | |||||
Lubrizol Corp. | AA | 5.50 | 10/01/14 | 500,000 | 506,646 | |||||
Methanex Corp. | BBB- | 3.25 | 12/15/19 | 2,000,000 | 2,047,724 | |||||
Newmont Mining Corp. | BBB | 3.50 | 03/15/22 | 2,000,000 | 1,928,284 | |||||
Rock-Tenn Co. | BBB | 3.50 | 03/01/20 | 600,000 | 617,407 | |||||
Southern Copper Corp. | BBB | 3.50 | 11/08/22 | 2,000,000 | 1,947,502 | |||||
| ||||||||||
20,904,616 | ||||||||||
| ||||||||||
TELECOMMUNICATION SERVICES (1.3%) | ||||||||||
AT&T, Inc. | A- | 3.00 | 02/15/22 | 2,000,000 | 1,991,052 | |||||
CenturyLink, Inc. | BB | 5.00 | 02/15/15 | 1,250,000 | 1,276,563 | |||||
Verizon Communications, Inc. | BBB+ | 4.50 | 09/15/20 | 2,000,000 | 2,199,984 | |||||
| ||||||||||
5,467,599 | ||||||||||
| ||||||||||
UTILITIES (2.4%) | ||||||||||
AGL Capital Corp. | BBB+ | 6.38 | 07/15/16 | 500,000 | 551,629 | |||||
Atmos Energy Corp. | A- | 4.95 | 10/15/14 | 1,000,000 | 1,012,975 | |||||
Constellation Energy | BBB- | 5.15 | 12/01/20 | 1,500,000 | 1,690,617 | |||||
Entergy Corp. | BBB- | 4.70 | 01/15/17 | 600,000 | 647,369 | |||||
Entergy Corp. | BBB- | 5.13 | 09/15/20 | 1,400,000 | 1,553,819 | |||||
Exelon Generation Co. LLC | BBB | 4.25 | 06/15/22 | 1,000,000 | 1,044,153 | |||||
PPL Energy Supply LLC | BB | 4.60 | 12/15/21 | 1,400,000 | 1,394,208 | |||||
PPL Energy Supply LLC | BB | 5.70 | 10/15/15 | 600,000 | 630,819 | |||||
SCANA Corp. | BBB | 4.75 | 05/15/21 | 1,165,000 | 1,272,782 | |||||
| ||||||||||
9,798,371 | ||||||||||
| ||||||||||
TOTAL LONG-TERM DEBT SECURITIES | 413,299,098 | |||||||||
| ||||||||||
TEMPORARY CASH INVESTMENTS (2) | 11,100 | |||||||||
| ||||||||||
TOTAL INVESTMENTS | 413,310,198 | |||||||||
| ||||||||||
OTHER NET ASSETS 0.7% | 2,923,712 | |||||||||
| ||||||||||
NET ASSETS 100.0% | $416,233,910 | |||||||||
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Rating** | Rate(%) | Maturity | Face Amount | Value | ||||||
LONG-TERM DEBT SECURITIES: | ||||||||||
U.S. GOVERNMENT (9.8%) | ||||||||||
U.S. Treasury Note | AA+ | 2.25 | 03/31/21 | 1,500,000 | 1,516,172 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/16 | 20,000,000 | 13,992,579 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 11/15/16 | 13,500,000 | 10,751,805 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/24 | 10,000,000 | 7,587,200 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/25 | 20,000,000 | 14,585,015 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/27 | 20,000,000 | 13,422,220 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/28 | 20,000,000 | 12,858,500 | |||||
U.S. Treasury Strip | AA+ | 0.00 | 08/15/29 | 20,000,000 | 12,314,140 | |||||
| ||||||||||
87,027,631 | ||||||||||
| ||||||||||
U.S. GOVERNMENT AGENCIES (29.6%) | ||||||||||
MORTGAGE-BACKED OBLIGATIONS (26.6%) | ||||||||||
FHARM | AA+ | 2.37 | 09/01/39 | 455,873 | 486,295 | |||||
FHARM | AA+ | 2.38 | 04/01/37 | 337,474 | 358,630 | |||||
FHARM | AA+ | 2.90 | 04/01/37 | 483,534 | 508,347 | |||||
FHARM | AA+ | 5.24 | 02/01/36 | 214,570 | 228,531 | |||||
FHARM | AA+ | 5.39 | 04/01/42 | 728,348 | 755,524 | |||||
FHARM | AA+ | 5.43 | 05/01/37 | 123,078 | 128,362 | |||||
FHARM | AA+ | 5.77 | 03/01/37 | 97,898 | 104,963 | |||||
FHLMC | AA+ | 2.50 | 09/01/27 | 2,499,976 | 2,540,248 | |||||
FHLMC | AA+ | 2.50 | 12/01/27 | 2,697,395 | 2,740,847 | |||||
FHLMC | AA+ | 2.50 | 04/01/28 | 1,338,840 | 1,360,408 | |||||
FHLMC | AA+ | 3.00 | 06/01/27 | 1,216,277 | 1,262,239 | |||||
FHLMC | AA+ | 3.00 | 08/01/27 | 1,359,608 | 1,410,987 | |||||
FHLMC | AA+ | 3.00 | 10/15/37 | 2,331,508 | 2,356,779 | |||||
FHLMC | AA+ | 3.00 | 07/01/42 | 1,269,700 | 1,282,774 | |||||
FHLMC | AA+ | 3.00 | 11/01/42 | 1,386,312 | 1,370,438 | |||||
FHLMC | AA+ | 3.00 | 11/01/42 | 1,464,540 | 1,450,041 | |||||
FHLMC | AA+ | 3.00 | 04/01/43 | 1,490,407 | 1,471,960 | |||||
FHLMC | AA+ | 3.00 | 04/01/43 | 2,276,042 | 2,253,502 | |||||
FHLMC | AA+ | 3.50 | 08/01/42 | 2,009,881 | 2,068,598 | |||||
FHLMC | AA+ | 3.50 | 01/01/43 | 1,885,177 | 1,940,251 | |||||
FHLMC | AA+ | 3.50 | 01/01/43 | 2,497,182 | 2,570,135 | |||||
FHLMC | AA+ | 3.50 | 02/01/43 | 3,017,288 | 3,111,412 | |||||
FHLMC | AA+ | 3.50 | 03/01/43 | 2,112,739 | 2,174,460 | |||||
FHLMC | AA+ | 4.00 | 05/01/24 | 243,203 | 260,556 | |||||
FHLMC | AA+ | 4.00 | 02/01/25 | 630,192 | 670,595 | |||||
FHLMC | AA+ | 4.00 | 05/01/26 | 735,726 | 787,553 | |||||
FHLMC | AA+ | 4.00 | 12/01/34 | 782,228 | 832,825 | |||||
FHLMC | AA+ | 4.00 | 12/15/38 | 500,000 | 522,762 | |||||
FHLMC | AA+ | 4.00 | 07/01/41 | 1,826,145 | 1,941,617 | |||||
FHLMC | AA+ | 4.00 | 12/01/41 | 1,063,420 | 1,128,102 | |||||
FHLMC | AA+ | 4.00 | 06/01/42 | 1,015,881 | 1,077,671 | |||||
FHLMC | AA+ | 4.00 | 07/01/42 | 3,731,873 | 3,995,761 | |||||
FHLMC | AA+ | 4.00 | 09/01/42 | 1,621,319 | 1,719,934 | |||||
FHLMC | AA+ | 4.00 | 12/01/42 | 2,094,839 | 2,249,411 | |||||
FHLMC | AA+ | 4.50 | 03/01/34 | 878,927 | 953,816 | |||||
FHLMC | AA+ | 4.50 | 08/01/34 | 591,424 | 641,840 | |||||
FHLMC | AA+ | 4.50 | 08/15/35 | 234,419 | 255,723 | |||||
FHLMC | AA+ | 4.50 | 12/01/39 | 1,699,602 | 1,839,895 | |||||
FHLMC | AA+ | 5.00 | 02/01/26 | 159,625 | 176,649 | |||||
FHLMC | AA+ | 5.00 | 08/01/35 | 1,377,749 | 1,541,669 | |||||
FHLMC | AA+ | 5.00 | 10/01/40 | 2,366,079 | 2,624,000 | |||||
FHLMC | AA+ | 5.50 | 03/01/21 | 223,507 | 242,248 | |||||
FHLMC | AA+ | 5.50 | 07/01/32 | 405,469 | 454,201 | |||||
FHLMC | AA+ | 5.50 | 01/15/33 | 432,868 | 474,667 | |||||
FHLMC | AA+ | 5.50 | 05/01/33 | 773,135 | 867,259 | |||||
FHLMC | AA+ | 5.50 | 01/15/35 | 275,623 | 292,652 | |||||
FHLMC | AA+ | 5.50 | 06/01/37 | 1,543,732 | 1,735,610 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FHLMC | AA+ | 6.00 | 07/15/29 | 297,547 | 333,799 | |||||
FHLMC | AA+ | 6.00 | 03/15/32 | 314,694 | 346,131 | |||||
FHLMC Strip | AA+ | 3.00 | 01/15/43 | 2,772,921 | 2,754,985 | |||||
FNMA | AA+ | 2.25 | 01/01/28 | 1,851,917 | 1,799,156 | |||||
FNMA | AA+ | 2.42 | 05/01/43 | 2,363,869 | 2,357,157 | |||||
FNMA | AA+ | 3.00 | 06/01/33 | 2,154,912 | 2,199,268 | |||||
FNMA | AA+ | 3.00 | 07/01/33 | 3,379,195 | 3,448,704 | |||||
FNMA | AA+ | 3.00 | 09/01/33 | 2,486,419 | 2,537,589 | |||||
FNMA | AA+ | 3.00 | 10/01/42 | 1,213,594 | 1,200,303 | |||||
FNMA | AA+ | 3.00 | 12/01/42 | 2,218,665 | 2,173,644 | |||||
FNMA | AA+ | 3.00 | 12/01/42 | 1,483,283 | 1,469,748 | |||||
FNMA | AA+ | 3.00 | 02/01/43 | 2,536,728 | 2,508,949 | |||||
FNMA | AA+ | 3.00 | 03/01/43 | 2,141,520 | 2,123,304 | |||||
FNMA | AA+ | 3.50 | 03/01/32 | 1,835,696 | 1,925,322 | |||||
FNMA | AA+ | 3.50 | 03/01/41 | 2,559,718 | 2,643,697 | |||||
FNMA | AA+ | 3.50 | 10/01/41 | 1,573,230 | 1,625,247 | |||||
FNMA | AA+ | 3.50 | 12/01/41 | 1,998,831 | 2,064,921 | |||||
FNMA | AA+ | 3.50 | 04/01/42 | 1,858,916 | 1,916,515 | |||||
FNMA | AA+ | 3.50 | 04/01/42 | 2,037,733 | 2,108,770 | |||||
FNMA | AA+ | 3.50 | 07/01/42 | 3,323,800 | 3,426,788 | |||||
FNMA | AA+ | 3.50 | 08/01/42 | 2,874,915 | 2,963,994 | |||||
FNMA | AA+ | 3.50 | 10/01/42 | 2,815,121 | 2,902,348 | |||||
FNMA | AA+ | 3.50 | 01/01/44 | 2,468,413 | 2,517,149 | |||||
FNMA | AA+ | 4.00 | 05/01/19 | 434,930 | 462,563 | |||||
FNMA | AA+ | 4.00 | 07/25/26 | 2,360,853 | 2,529,281 | |||||
FNMA | AA+ | 4.00 | 01/01/31 | 2,038,444 | 2,192,817 | |||||
FNMA | AA+ | 4.00 | 12/01/33 | 2,376,998 | 2,526,192 | |||||
FNMA | AA+ | 4.00 | 03/01/35 | 698,502 | 744,015 | |||||
FNMA | AA+ | 4.00 | 11/01/38 | 2,761,188 | 2,934,496 | |||||
FNMA | AA+ | 4.00 | 06/01/39 | 735,435 | 781,596 | |||||
FNMA | AA+ | 4.00 | 11/01/40 | 1,730,554 | 1,839,174 | |||||
FNMA | AA+ | 4.00 | 05/01/41 | 1,707,952 | 1,813,847 | |||||
FNMA | AA+ | 4.50 | 05/01/18 | 252,643 | 268,311 | |||||
FNMA | AA+ | 4.50 | 05/01/19 | 59,987 | 63,730 | |||||
FNMA | AA+ | 4.50 | 06/01/19 | 177,511 | 191,151 | |||||
FNMA | AA+ | 4.50 | 05/01/30 | 749,259 | 822,450 | |||||
FNMA | AA+ | 4.50 | 04/01/31 | 1,130,652 | 1,236,747 | |||||
FNMA | AA+ | 4.50 | 08/01/33 | 256,647 | 278,919 | |||||
FNMA | AA+ | 4.50 | 08/01/33 | 196,516 | 213,505 | |||||
FNMA | AA+ | 4.50 | 09/01/33 | 698,426 | 758,651 | |||||
FNMA | AA+ | 4.50 | 10/01/33 | 696,782 | 757,184 | |||||
FNMA | AA+ | 4.50 | 10/01/33 | 346,564 | 375,727 | |||||
FNMA | AA+ | 4.50 | 05/01/34 | 262,135 | 284,516 | |||||
FNMA | AA+ | 4.50 | 06/01/34 | 370,407 | 402,242 | |||||
FNMA | AA+ | 4.50 | 07/01/34 | 374,391 | 405,632 | |||||
FNMA | AA+ | 4.50 | 01/01/35 | 1,061,283 | 1,153,531 | |||||
FNMA | AA+ | 4.50 | 08/01/35 | 467,318 | 506,314 | |||||
FNMA | AA+ | 4.50 | 09/01/35 | 177,708 | 190,338 | |||||
FNMA | AA+ | 4.50 | 12/01/35 | 494,862 | 536,253 | |||||
FNMA | AA+ | 4.50 | 05/01/39 | 1,431,300 | 1,563,933 | |||||
FNMA | AA+ | 4.50 | 05/01/39 | 1,289,706 | 1,409,227 | |||||
FNMA | AA+ | 4.50 | 05/01/40 | 676,060 | 730,985 | |||||
FNMA | AA+ | 4.50 | 11/01/40 | 1,127,726 | 1,221,829 | |||||
FNMA | AA+ | 4.50 | 06/01/41 | 986,248 | 1,068,785 | |||||
FNMA | AA+ | 4.50 | 10/01/41 | 1,967,013 | 2,131,150 | |||||
FNMA | AA+ | 4.50 | 11/01/41 | 1,542,783 | 1,677,937 | |||||
FNMA | AA+ | 4.50 | 01/01/42 | 241,271 | 261,404 | |||||
FNMA | AA+ | 4.50 | 07/01/42 | 3,460,608 | 3,784,784 | |||||
FNMA | AA+ | 4.50 | 03/01/44 | 2,685,954 | 2,922,401 | |||||
FNMA | AA+ | 5.00 | 04/01/18 | 62,615 | 66,436 | |||||
FNMA | AA+ | �� | 5.00 | 09/01/18 | 329,125 | 351,195 | ||||
FNMA | AA+ | 5.00 | 09/01/20 | 176,350 | 190,448 | |||||
FNMA | AA+ | 5.00 | 10/01/20 | 415,866 | 448,724 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FNMA | AA+ | 5.00 | 10/01/25 | 263,979 | 293,334 | |||||
FNMA | AA+ | 5.00 | 09/01/33 | 1,372,474 | 1,532,286 | |||||
FNMA | AA+ | 5.00 | 10/01/33 | 879,337 | 986,857 | |||||
FNMA | AA+ | 5.00 | 11/01/33 | 882,322 | 983,200 | |||||
FNMA | AA+ | 5.00 | 03/01/34 | 218,904 | 244,177 | |||||
FNMA | AA+ | 5.00 | 04/01/34 | 420,134 | 466,854 | |||||
FNMA | AA+ | 5.00 | 04/01/34 | 116,280 | 129,347 | |||||
FNMA | AA+ | 5.00 | 04/01/35 | 392,999 | 440,933 | |||||
FNMA | AA+ | 5.00 | 06/01/35 | 274,671 | 305,752 | |||||
FNMA | AA+ | 5.00 | 09/01/35 | 744,277 | 827,042 | |||||
FNMA | AA+ | 5.00 | 09/01/35 | 398,481 | 442,793 | |||||
FNMA | AA+ | 5.00 | 11/25/35 | 1,605,255 | 1,726,628 | |||||
FNMA | AA+ | 5.00 | 08/01/37 | 1,823,895 | 2,028,904 | |||||
FNMA | AA+ | 5.00 | 05/01/39 | 1,221,970 | 1,355,605 | |||||
FNMA | AA+ | 5.00 | 09/25/40 | 1,568,377 | 1,689,834 | |||||
FNMA | AA+ | 5.50 | 04/01/17 | 23,708 | 25,179 | |||||
FNMA | AA+ | 5.50 | 05/01/17 | 30,755 | 32,663 | |||||
FNMA | AA+ | 5.50 | 01/01/24 | 302,281 | 339,137 | |||||
FNMA | AA+ | 5.50 | 03/01/24 | 612,456 | 686,987 | |||||
FNMA | AA+ | 5.50 | 09/01/25 | 261,715 | 294,521 | |||||
FNMA | AA+ | 5.50 | 11/01/26 | 192,806 | 216,554 | |||||
FNMA | AA+ | 5.50 | 01/01/27 | 112,934 | 126,643 | |||||
FNMA | AA+ | 5.50 | 03/01/33 | 461,710 | 520,454 | |||||
FNMA | AA+ | 5.50 | 09/01/33 | 424,749 | 480,556 | |||||
FNMA | AA+ | 5.50 | 10/01/33 | 846,579 | 962,912 | |||||
FNMA | AA+ | 5.50 | 03/01/34 | 448,148 | 510,254 | |||||
FNMA | AA+ | 5.50 | 03/01/34 | 151,810 | 171,306 | |||||
FNMA | AA+ | 5.50 | 07/01/34 | 336,142 | 376,071 | |||||
FNMA | AA+ | 5.50 | 09/01/34 | 399,001 | 448,927 | |||||
FNMA | AA+ | 5.50 | 09/01/34 | 194,522 | 219,662 | |||||
FNMA | AA+ | 5.50 | 09/01/34 | 104,713 | 117,151 | |||||
FNMA | AA+ | 5.50 | 10/01/34 | 710,188 | 802,581 | |||||
FNMA | AA+ | 5.50 | 02/01/35 | 261,284 | 295,096 | |||||
FNMA | AA+ | 5.50 | 02/01/35 | 417,595 | 474,487 | |||||
FNMA | AA+ | 5.50 | 04/01/35 | 391,815 | 442,457 | |||||
FNMA | AA+ | 5.50 | 08/01/35 | 997,396 | 1,126,153 | |||||
FNMA | AA+ | 5.50 | 02/25/37 | 239,117 | 259,872 | |||||
FNMA | AA+ | 5.50 | 05/01/38 | 1,063,333 | 1,193,451 | |||||
FNMA | AA+ | 5.50 | 11/01/38 | 231,641 | 251,805 | |||||
FNMA | AA+ | 5.50 | 06/01/48 | 293,158 | 318,063 | |||||
FNMA | AA+ | 6.00 | 03/01/17 | 38,653 | 40,372 | |||||
FNMA | AA+ | 6.00 | 05/01/23 | 371,695 | 420,074 | |||||
FNMA | AA+ | 6.00 | 01/01/25 | 240,852 | 271,022 | |||||
FNMA | AA+ | 6.00 | 03/01/28 | 315,309 | 356,791 | |||||
FNMA | AA+ | 6.00 | 04/01/32 | 89,184 | 100,355 | |||||
FNMA | AA+ | 6.00 | 04/01/32 | 71,488 | 80,911 | |||||
FNMA | AA+ | 6.00 | 05/01/32 | 339,534 | 387,014 | |||||
FNMA | AA+ | 6.00 | 04/01/33 | 797,793 | 910,593 | |||||
FNMA | AA+ | 6.00 | 11/01/34 | 128,145 | 144,200 | |||||
FNMA | AA+ | 6.00 | 03/01/36 | 89,997 | 100,831 | |||||
FNMA | AA+ | 6.00 | 12/01/36 | 327,845 | 369,838 | |||||
FNMA | AA+ | 6.00 | 01/01/37 | 374,289 | 422,413 | |||||
FNMA | AA+ | 6.00 | 03/01/37 | 292,351 | 320,146 | |||||
FNMA | AA+ | 6.00 | 04/01/37 | 171,201 | 187,542 | |||||
FNMA | AA+ | 6.00 | 05/01/37 | 111,495 | 122,010 | |||||
FNMA | AA+ | 6.00 | 06/01/37 | 176,473 | 193,205 | |||||
FNMA | AA+ | 6.00 | 07/01/37 | 160,728 | 180,861 | |||||
FNMA | AA+ | 6.00 | 08/01/37 | 233,575 | 262,834 | |||||
FNMA | AA+ | 6.00 | 12/01/37 | 108,931 | 122,576 | |||||
FNMA | AA+ | 6.00 | 10/25/44 | 659,106 | 746,795 | |||||
FNMA | AA+ | 6.00 | 02/25/47 | 1,542,078 | 1,747,566 | |||||
FNMA | AA+ | 6.00 | 12/25/49 | 942,899 | 1,061,360 | |||||
FNMA | AA+ | 6.50 | 09/01/16 | 8,451 | 8,732 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
FNMA | AA+ | 6.50 | 03/01/17 | 110,823 | 115,299 | |||||
FNMA | AA+ | 6.50 | 05/01/17 | 8,647 | 8,780 | |||||
FNMA | AA+ | 6.50 | 05/01/32 | 273,351 | 308,789 | |||||
FNMA | AA+ | 6.50 | 05/01/32 | 105,350 | 119,021 | |||||
FNMA | AA+ | 6.50 | 09/01/36 | 94,668 | 100,436 | |||||
FNMA | AA+ | 6.50 | 05/01/37 | 338,169 | 385,720 | |||||
FNMA | AA+ | 6.50 | 07/01/37 | 56,056 | 63,206 | |||||
FNMA | AA+ | 6.50 | 09/01/37 | 118,959 | 134,131 | |||||
FNMA | AA+ | 6.50 | 05/01/38 | 206,454 | 240,779 | |||||
FNMA | AA+ | 7.00 | 09/01/31 | 65,942 | 74,084 | |||||
FNMA | AA+ | 7.00 | 01/25/44 | 557,254 | 637,063 | |||||
FNMA | AA+ | 7.50 | 06/01/32 | 122,008 | 143,924 | |||||
FNMA | AA+ | 8.00 | 04/01/32 | 21,736 | 23,576 | |||||
FNMA Strip | AA+ | 3.00 | 08/25/42 | 2,263,997 | 2,264,209 | |||||
GNMA (4) | AA+ | 2.68 | 10/16/47 | 2,000,000 | 1,934,952 | |||||
GNMA (4) | AA+ | 3.50 | 11/20/32 | 2,608,157 | 2,720,271 | |||||
GNMA (4) | AA+ | 3.50 | 09/20/33 | 1,039,982 | 1,080,671 | |||||
GNMA (4) | AA+ | 3.50 | 01/20/37 | 470,793 | 483,658 | |||||
GNMA (4) | AA+ | 3.50 | 07/15/42 | 1,922,075 | 2,004,211 | |||||
GNMA (4) | AA+ | 3.50 | 11/15/42 | 1,623,787 | 1,691,715 | |||||
GNMA (4) | AA+ | 3.70 | 05/15/42 | 1,451,519 | 1,513,053 | |||||
GNMA (4) | AA+ | 4.00 | 04/15/24 | 478,331 | 513,544 | |||||
GNMA (4) | AA+ | 4.00 | 01/20/41 | 2,758,027 | 2,954,636 | |||||
GNMA (4) | AA+ | 4.00 | 08/15/41 | 1,926,477 | 2,061,299 | |||||
GNMA (4) | AA+ | 4.00 | 11/15/41 | 1,274,240 | 1,365,176 | |||||
GNMA (4) | AA+ | 4.00 | 12/15/41 | 2,095,297 | 2,241,735 | |||||
GNMA (4) | AA+ | 4.00 | 01/15/42 | 788,142 | 843,225 | |||||
GNMA (4) | AA+ | 4.00 | 03/20/42 | 1,335,384 | 1,430,524 | |||||
GNMA (4) | AA+ | 4.00 | 08/20/42 | 1,777,966 | 1,903,419 | |||||
GNMA (4) | AA+ | 4.25 | 06/20/36 | 1,106,762 | 1,189,798 | |||||
GNMA (4) | AA+ | 4.25 | 04/20/41 | 1,139,821 | 1,221,347 | |||||
GNMA (4) | AA+ | 4.29 | 04/15/41 | 963,767 | 1,031,124 | |||||
GNMA (4) | AA+ | 4.50 | 06/20/30 | 171,911 | 191,120 | |||||
GNMA (4) | AA+ | 4.50 | 09/15/30 | 941,554 | 1,036,792 | |||||
GNMA (4) | AA+ | 4.50 | 06/20/34 | 858,079 | 945,263 | |||||
GNMA (4) | AA+ | 4.50 | 09/15/40 | 1,843,643 | 2,015,371 | |||||
GNMA (4) | AA+ | 4.50 | 10/15/40 | 871,995 | 952,131 | |||||
GNMA (4) | AA+ | 4.50 | 10/15/40 | 2,331,954 | 2,549,161 | |||||
GNMA (4) | AA+ | 5.00 | 04/15/39 | 1,569,346 | 1,750,896 | |||||
GNMA (4) | AA+ | 5.00 | 06/20/39 | 2,245,878 | 2,429,525 | |||||
GNMA (4) | AA+ | 5.00 | 11/15/39 | 1,013,352 | 1,118,510 | |||||
GNMA (4) | AA+ | 5.00 | 05/15/40 | 457,882 | 508,013 | |||||
GNMA (4) | AA+ | 5.00 | 06/20/40 | 921,419 | 1,018,648 | |||||
GNMA (4) | AA+ | 5.00 | 06/20/40 | 944,804 | 1,045,066 | |||||
GNMA (4) | AA+ | 5.50 | 01/15/36 | 196,224 | 220,308 | |||||
GNMA (4) | AA+ | 6.50 | 04/15/31 | 15,582 | 17,704 | |||||
GNMA (4) | AA+ | 6.50 | 12/15/31 | 63,701 | 72,376 | |||||
GNMA (4) | AA+ | 6.50 | 05/15/32 | 31,693 | 36,145 | |||||
GNMA (4) | AA+ | 7.00 | 05/15/32 | 10,041 | 11,302 | |||||
GNMA TBA (4) | AA+ | 4.50 | 02/20/20 | 1,286,546 | 1,347,489 | |||||
Vendee Mortgage Trust (4) | AA+ | 5.25 | 01/15/32 | 1,463,159 | 1,637,011 | |||||
| ||||||||||
237,079,390 | ||||||||||
| ||||||||||
NON-MORTGAGE-BACKED OBLIGATIONS (3.0%) | ||||||||||
FHLMC | AA+ | 0.00 | 11/29/19 | 10,728,000 | 9,396,484 | |||||
FNMA | AA+ | 0.00 | 10/09/19 | 20,000,000 | 17,575,315 | |||||
| ||||||||||
26,971,799 | ||||||||||
| ||||||||||
CORPORATE DEBT (58.9%) | ||||||||||
CONSUMER DISCRETIONARY (9.1%) | ||||||||||
Advance Auto Parts, Inc. | BBB- | 4.50 | 01/15/22 | 1,000,000 | 1,066,079 | |||||
Advance Auto Parts, Inc. | BBB- | 5.75 | 05/01/20 | 3,000,000 | 3,441,672 | |||||
AutoZone, Inc. | BBB | 3.70 | 04/15/22 | 700,000 | 720,374 | |||||
AutoZone, Inc. | BBB | 4.00 | 11/15/20 | 3,000,000 | 3,190,644 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Brinker International, Inc. | BBB- | 3.88 | 05/15/23 | 4,000,000 | 3,876,752 | |||||
Darden Restaurants, Inc. | BBB- | 4.50 | 10/15/21 | 3,500,000 | 3,676,936 | |||||
Dollar General Corp. | BBB- | 3.25 | 04/15/23 | 4,000,000 | 3,777,780 | |||||
Ethan Allen Global, Inc. | BB- | 5.38 | 10/01/15 | 2,000,000 | 2,060,000 | |||||
Expedia, Inc. | BBB- | 5.95 | 08/15/20 | 4,000,000 | 4,525,832 | |||||
Family Dollar Stores, Inc. | BBB- | 5.00 | 02/01/21 | 4,000,000 | 4,292,336 | |||||
Home Depot, Inc. | A | 5.40 | 03/01/16 | 2,000,000 | 2,158,186 | |||||
Hyatt Hotels Corp. | BBB | 3.88 | 08/15/16 | 2,800,000 | 2,951,110 | |||||
Hyatt Hotels Corp. | BBB | 5.38 | 08/15/21 | 200,000 | 225,825 | |||||
Kohl’s Corp. | BBB+ | 3.25 | 02/01/23 | 880,000 | 851,355 | |||||
Kohl’s Corp. | BBB+ | 4.00 | 11/01/21 | 2,620,000 | 2,730,538 | |||||
Lowe’s Cos., Inc. | A- | 3.12 | 04/15/22 | 2,000,000 | 2,030,116 | |||||
Marriott International, Inc. | BBB | 3.00 | 03/01/19 | 1,000,000 | 1,033,918 | |||||
Marriott International, Inc. | BBB | 3.38 | 10/15/20 | 3,000,000 | 3,110,448 | |||||
Mattel, Inc. | BBB+ | 4.35 | 10/01/20 | 1,000,000 | 1,072,829 | |||||
Newell Rubbermaid, Inc. | BBB- | 4.70 | 08/15/20 | 3,000,000 | 3,250,857 | |||||
NVR, Inc. | BBB | 3.95 | 09/15/22 | 4,000,000 | 4,030,948 | |||||
O’Reilly Automotive, Inc. | BBB | 3.80 | 09/01/22 | 3,250,000 | 3,324,532 | |||||
Omnicom Group, Inc. | BBB+ | 3.63 | 05/01/22 | 1,000,000 | 1,028,771 | |||||
Omnicom Group, Inc. | BBB+ | 4.45 | 08/15/20 | 3,000,000 | 3,271,299 | |||||
Staples, Inc. | BBB- | 4.38 | 01/12/23 | 3,700,000 | 3,712,617 | |||||
Tupperware Brands Corp. | BBB- | 4.75 | 06/01/21 | 4,000,000 | 4,317,908 | |||||
Whirlpool Corp. | BBB | 4.85 | 06/15/21 | 1,000,000 | 1,103,171 | |||||
Whirlpool Corp. | BBB | 6.50 | 06/15/16 | 2,000,000 | 2,212,826 | |||||
Wyndham Worldwide Corp. | BBB- | 3.90 | 03/01/23 | 4,000,000 | 4,018,228 | |||||
Wynn Las Vegas LLC | BBB- | 5.38 | 03/15/22 | 4,000,000 | 4,165,000 | |||||
| ||||||||||
81,228,887 | ||||||||||
| ||||||||||
CONSUMER STAPLES (3.1%) | ||||||||||
Avon Products, Inc. | BBB- | 4.20 | 07/15/18 | 900,000 | 934,863 | |||||
Avon Products, Inc. | BBB- | 4.60 | 03/15/20 | 2,100,000 | 2,177,704 | |||||
Beam, Inc. | BBB- | 5.38 | 01/15/16 | 344,000 | 366,205 | |||||
ConAgra Foods, Inc. | BBB- | 4.95 | 08/15/20 | 1,500,000 | 1,662,398 | |||||
CVS Caremark Corp. | BBB+ | 6.13 | 08/15/16 | 2,000,000 | 2,221,136 | |||||
Energizer Hldgs., Inc. | BBB- | 4.70 | 05/19/21 | 4,000,000 | 4,119,184 | |||||
Flowers Foods, Inc. | BBB- | 4.38 | 04/01/22 | 3,500,000 | 3,677,688 | |||||
Ingredion, Inc. | BBB | 4.63 | 11/01/20 | 3,225,000 | 3,474,905 | |||||
Kroger Co. | BBB | 4.95 | 01/15/15 | 2,000,000 | 2,047,838 | |||||
Molson Coors Brewing Co. | BBB- | 3.50 | 05/01/22 | 3,000,000 | 3,032,517 | |||||
Safeway, Inc. | BBB | 3.95 | 08/15/20 | 4,000,000 | 4,075,124 | |||||
| ||||||||||
27,789,562 | ||||||||||
| ||||||||||
ENERGY (4.8%) | ||||||||||
Cameron International Corp. | BBB+ | 4.50 | 06/01/21 | 3,000,000 | 3,243,426 | |||||
Diamond Offshore Drilling, Inc. | A | 4.88 | 07/01/15 | 2,000,000 | 2,089,182 | |||||
Energen Corp. | BBB- | 4.63 | 09/01/21 | 4,000,000 | 3,982,660 | |||||
EQT Corp. | BBB | 4.88 | 11/15/21 | 4,000,000 | 4,371,652 | |||||
Kinder Morgan, Inc. | BB | 5.15 | 03/01/15 | 2,000,000 | 2,042,500 | |||||
Marathon Petroleum Corp. | BBB | 5.13 | 03/01/21 | 3,000,000 | 3,401,370 | |||||
Murphy Oil Corp. | BBB | 2.50 | 12/01/17 | 1,250,000 | 1,279,375 | |||||
Murphy Oil Corp. | BBB | 3.70 | 12/01/22 | 2,751,000 | 2,737,944 | |||||
National Oilwell Varco, Inc. | A | 6.13 | 08/15/15 | 2,000,000 | 2,002,156 | |||||
Noble Corp. | BBB+ | 7.50 | 03/15/19 | 2,000,000 | 2,334,560 | |||||
Rowan Companies PLC | BBB- | 4.88 | 06/01/22 | 4,000,000 | 4,284,632 | |||||
Seacor Hldgs., Inc. | BB- | 7.38 | 10/01/19 | 2,775,000 | 3,108,000 | |||||
SESI LLC | BBB- | 7.13 | 12/15/21 | 3,900,000 | 4,397,250 | |||||
Sunoco, Inc. | BBB- | 5.75 | 01/15/17 | 2,000,000 | 2,202,570 | |||||
Weatherford Int’l. Ltd. | BBB- | 5.50 | 02/15/16 | 1,500,000 | 1,609,043 | |||||
| ||||||||||
43,086,320 | ||||||||||
| ||||||||||
FINANCIALS (15.9%) | ||||||||||
Aflac, Inc. | A | 4.00 | 02/15/22 | 3,000,000 | 3,210,018 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Alleghany Corp. | BBB | 4.95 | 06/27/22 | 1,000,000 | 1,088,700 | |||||
Alleghany Corp. | BBB | 5.63 | 09/15/20 | 3,000,000 | 3,404,595 | |||||
American Tower Corp. | BBB- | 4.50 | 01/15/18 | 4,000,000 | 4,358,368 | |||||
Bank of America Corp. | A- | 3.70 | 09/01/15 | 2,000,000 | 2,067,650 | |||||
Barrick N.A. Finance LLC | BBB | 4.40 | 05/30/21 | 4,000,000 | 4,185,096 | |||||
Berkley (W.R.) Corp. | BBB+ | 4.63 | 03/15/22 | 2,000,000 | 2,148,404 | |||||
Berkley (W.R.) Corp. | BBB+ | 7.38 | 09/15/19 | 2,000,000 | 2,439,516 | |||||
Block Financial LLC | BBB | 5.13 | 10/30/14 | 1,750,000 | 1,770,402 | |||||
Block Financial LLC | BBB | 5.50 | 11/01/22 | 2,250,000 | 2,456,449 | |||||
Boston Properties LP | A- | 3.70 | 11/15/18 | 1,000,000 | 1,067,534 | |||||
Boston Properties LP | A- | 3.85 | 02/01/23 | 3,000,000 | 3,093,705 | |||||
Capital One Financial Corp. | BBB | 4.75 | 07/15/21 | 4,000,000 | 4,449,968 | |||||
CNA Financial Corp. | BBB | 6.50 | 08/15/16 | 2,000,000 | 2,227,648 | |||||
Fairfax Financial Hldgs. | BBB- | 8.25 | 10/01/15 | 2,500,000 | 2,695,788 | |||||
Fairfax Financial Hldgs.† | BBB- | 5.80 | 05/15/21 | 1,500,000 | 1,621,727 | |||||
First Republic Bank | A- | 2.38 | 06/17/19 | 2,000,000 | 2,011,520 | |||||
Genworth Financial, Inc. | BBB- | 7.20 | 02/15/21 | 1,750,000 | 2,132,636 | |||||
Genworth Financial, Inc. | BBB- | 7.63 | 09/24/21 | 1,300,000 | 1,628,713 | |||||
Harley-Davidson Financial Svcs.† | A- | 3.88 | 03/15/16 | 2,678,000 | 2,809,763 | |||||
Hartford Financial Svcs. | BBB | 5.50 | 03/30/20 | 1,000,000 | 1,144,322 | |||||
HCP, Inc. | BBB+ | 6.00 | 01/30/17 | 1,250,000 | 1,399,295 | |||||
Health Care REIT, Inc. | BBB | 3.63 | 03/15/16 | 750,000 | 783,903 | |||||
Health Care REIT, Inc. | BBB | 3.75 | 03/15/23 | 750,000 | 752,368 | |||||
Health Care REIT, Inc. | BBB | 6.13 | 04/15/20 | 2,500,000 | 2,906,300 | |||||
Healthcare Realty Trust | BBB- | 3.75 | 04/15/23 | 4,000,000 | 3,907,232 | |||||
Hospitality Properties Trust | BBB- | 5.00 | 08/15/22 | 4,000,000 | 4,231,692 | |||||
Jones Lang LaSalle, Inc. | BBB- | 4.40 | 11/15/22 | 4,000,000 | 4,041,904 | |||||
JPMorgan Chase Bank NA | A | 6.00 | 10/01/17 | 2,000,000 | 2,274,940 | |||||
Kemper Corp. | BBB- | 6.00 | 11/30/15 | 2,500,000 | 2,669,043 | |||||
Lincoln National Corp. | A- | 4.85 | 06/24/21 | 1,000,000 | 1,110,936 | |||||
Markel Corp. | BBB | 5.35 | 06/01/21 | 1,200,000 | 1,348,037 | |||||
Marsh & McLennan Cos., Inc. | A- | 4.80 | 07/15/21 | 3,000,000 | 3,332,010 | |||||
Moody’s Corp. | BBB+ | 4.50 | 09/01/22 | 4,000,000 | 4,193,648 | |||||
Morgan Stanley | A- | 4.00 | 07/24/15 | 2,000,000 | 2,071,382 | |||||
Nasdaq OMX Group, Inc. | BBB | 5.55 | 01/15/20 | 2,500,000 | 2,773,830 | |||||
National Retail Pptys., Inc. | BBB | 3.30 | 04/15/23 | 1,000,000 | 970,492 | |||||
National Retail Pptys., Inc. | BBB | 3.80 | 10/15/22 | 3,000,000 | 3,059,148 | |||||
Pacific LifeCorp.† | BBB+ | 6.00 | 02/10/20 | 3,000,000 | 3,426,219 | |||||
Penske Truck Leasing Co. LP† | BBB- | 3.38 | 03/15/18 | 3,000,000 | 3,145,398 | |||||
ProLogis LP | BBB+ | 6.63 | 05/15/18 | 3,000,000 | 3,501,309 | |||||
Protective Life Corp. | A- | 4.88 | 11/01/14 | 1,000,000 | 1,011,482 | |||||
Protective Life Secured Trust | AA- | 3.83 | 12/10/14 | 124,000 | 124,588 | |||||
Protective Life Secured Trust | AA- | 3.98 | 10/10/14 | 53,000 | 53,190 | |||||
Protective Life Secured Trust | AA- | 5.77 | 08/10/14 | 21,000 | 20,979 | |||||
Prudential Financial, Inc. | A | 4.50 | 11/16/21 | 1,000,000 | 1,100,846 | |||||
Raymond James Financial, Inc. | BBB | 4.25 | 04/15/16 | 3,150,000 | 3,327,027 | |||||
Reckson Operating Partnership | BBB- | 6.00 | 03/31/16 | 3,200,000 | 3,443,878 | |||||
Reinsurance Grp. of America, Inc. | A- | 4.70 | 09/15/23 | 1,000,000 | 1,072,808 | |||||
Reinsurance Grp. of America, Inc. | A- | 5.00 | 06/01/21 | 3,000,000 | 3,308,463 | |||||
Retail Properties, Inc.† | A | 7.88 | 03/15/16 | 5,000,000 | 5,576,610 | |||||
Senior Housing Pptys. Trust | BBB- | 4.30 | 01/15/16 | 3,000,000 | 3,108,459 | |||||
Travelers Cos., Inc. | A | 3.90 | 11/01/20 | 2,500,000 | 2,699,173 | |||||
Ventas Realty LP/Capital Corp. | BBB+ | 3.25 | 08/15/22 | 500,000 | 494,318 | |||||
Ventas Realty LP/Capital Corp. | BBB+ | 4.75 | 06/01/21 | 3,000,000 | 3,289,071 | |||||
Vornado Realty LP | BBB | 2.50 | 06/30/19 | 1,000,000 | 1,001,605 | |||||
Vornado Realty LP | BBB | 4.25 | 04/01/15 | 3,000,000 | 3,051,177 | |||||
Wells Fargo & Co. | A | 3.45 | 02/13/23 | 4,000,000 | 3,980,428 | |||||
Zions Bancorporation | BBB- | 4.50 | 03/27/17 | 1,000,000 | 1,067,209 | |||||
| ||||||||||
141,642,919 | ||||||||||
|
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
HEALTH CARE (5.5%) | ||||||||||
Agilent Technologies, Inc. | BBB+ | 5.00 | 07/15/20 | 4,000,000 | 4,390,092 | |||||
Allergan, Inc. | A+ | 5.75 | 04/01/16 | 2,000,000 | 2,154,680 | |||||
AmerisourceBergen Corp. | A- | 4.88 | 11/15/19 | 2,500,000 | 2,801,923 | |||||
Bio-Rad Laboratories, Inc. | BBB | 4.88 | 12/15/20 | 4,000,000 | 4,235,640 | |||||
Biogen Idec, Inc. | A- | 6.88 | 03/01/18 | 2,500,000 | 2,942,993 | |||||
CIGNA Corp. | A | 2.75 | 11/15/16 | 1,000,000 | 1,038,513 | |||||
CIGNA Corp. | A | 5.38 | 03/15/17 | 2,000,000 | 2,217,106 | |||||
Hospira, Inc. | BBB- | 6.05 | 03/30/17 | 4,000,000 | 4,412,860 | |||||
Humana, Inc. | BBB+ | 7.20 | 06/15/18 | 2,000,000 | 2,375,760 | |||||
Laboratory Corp. of America | BBB+ | 3.75 | 08/23/22 | 2,000,000 | 2,023,734 | |||||
Laboratory Corp. of America | BBB+ | 4.63 | 11/15/20 | 1,000,000 | 1,081,511 | |||||
Laboratory Corp. of America | BBB+ | 5.63 | 12/15/15 | 1,000,000 | 1,068,953 | |||||
Medco Health Solutions, Inc. | BBB+ | 4.13 | 09/15/20 | 3,000,000 | 3,219,552 | |||||
PerkinElmer, Inc. | BBB | 5.00 | 11/15/21 | 4,000,000 | 4,323,788 | |||||
Quest Diagnostics, Inc. | BBB+ | 4.75 | 01/30/20 | 4,000,000 | 4,327,144 | |||||
Thermo Fisher Scientific, Inc. | BBB | 3.60 | 08/15/21 | 1,000,000 | 1,039,080 | |||||
Thermo Fisher Scientific, Inc. | BBB | 4.50 | 03/01/21 | 3,000,000 | 3,291,414 | |||||
WellPoint, Inc. | A- | 4.35 | 08/15/20 | 2,000,000 | 2,182,624 | |||||
| ||||||||||
49,127,367 | ||||||||||
| ||||||||||
INDUSTRIALS (4.7%) | ||||||||||
CSX Corp. | BBB+ | 6.25 | 04/01/15 | 2,000,000 | 2,086,226 | |||||
Dun & Bradstreet Corp. | BBB- | 3.25 | 12/01/17 | 3,000,000 | 3,106,521 | |||||
Dun & Bradstreet Corp. | BBB- | 4.38 | 12/01/22 | 1,000,000 | 1,025,479 | |||||
Equifax, Inc. | BBB+ | 3.30 | 12/15/22 | 4,000,000 | 3,917,188 | |||||
Flowserve Corp. | BBB- | 3.50 | 09/15/22 | 4,000,000 | 3,950,396 | |||||
Harsco Corp. | BB+ | 5.75 | 05/15/18 | 4,000,000 | 4,330,000 | |||||
Kennametal, Inc. | BBB | 2.65 | 11/01/19 | 4,000,000 | 3,994,064 | |||||
L-3 Communications Corp. | BBB- | 4.75 | 07/15/20 | 3,000,000 | 3,286,185 | |||||
L-3 Communications Corp. | BBB- | 5.20 | 10/15/19 | 1,000,000 | 1,124,987 | |||||
Pentair PLC | BBB | 5.00 | 05/15/21 | 3,000,000 | 3,316,131 | |||||
Pitney Bowes, Inc. | BBB | 5.25 | 01/15/37 | 3,000,000 | 3,263,268 | |||||
Textron, Inc. | BBB- | 4.63 | 09/21/16 | 2,900,000 | 3,108,612 | |||||
URS Corp. | BBB- | 5.00 | 04/01/22 | 4,000,000 | 4,075,992 | |||||
Valmont Industries, Inc. | BBB | 6.63 | 04/20/20 | 750,000 | 891,224 | |||||
| ||||||||||
41,476,273 | ||||||||||
| ||||||||||
INFORMATION TECHNOLOGY (5.2%) | ||||||||||
Adobe Systems, Inc. | A- | 4.75 | 02/01/20 | 4,000,000 | 4,449,264 | |||||
Arrow Electronics, Inc. | BBB- | 4.50 | 03/01/23 | 1,100,000 | 1,149,663 | |||||
Arrow Electronics, Inc. | BBB- | 6.88 | 06/01/18 | 2,900,000 | 3,357,304 | |||||
Avnet, Inc. | BBB- | 4.88 | 12/01/22 | 270,000 | 287,399 | |||||
Avnet, Inc. | BBB- | 5.88 | 06/15/20 | 1,100,000 | 1,240,548 | |||||
Avnet, Inc. | BBB- | 6.00 | 09/01/15 | 2,000,000 | 2,112,642 | |||||
Fiserv, Inc. | BBB | 4.63 | 10/01/20 | 2,800,000 | 3,052,389 | |||||
Fiserv, Inc. | BBB | 4.75 | 06/15/21 | 1,000,000 | 1,087,865 | |||||
Ingram Micro, Inc. | BBB- | 5.00 | 08/10/22 | 1,000,000 | 1,046,529 | |||||
Ingram Micro, Inc. | BBB- | 5.25 | 09/01/17 | 3,000,000 | 3,260,331 | |||||
Lexmark International, Inc. | BBB- | 6.65 | 06/01/18 | 4,000,000 | 4,537,668 | |||||
Motorola Solutions, Inc. | BBB | 3.75 | 05/15/22 | 4,000,000 | 3,976,688 | |||||
Symantec Corp. | BBB | 4.20 | 09/15/20 | 4,000,000 | 4,150,288 | |||||
Tech Data Corp. | BBB- | 3.75 | 09/21/17 | 4,000,000 | 4,190,948 | |||||
Total System Services, Inc. | BBB+ | 3.75 | 06/01/23 | 4,000,000 | 3,894,512 | |||||
Western Union Co. | BBB | 5.93 | 10/01/16 | 4,000,000 | 4,390,788 | |||||
| ||||||||||
46,184,826 | ||||||||||
| ||||||||||
MATERIALS (6.5%) | ||||||||||
Airgas, Inc. | BBB | 3.25 | 10/01/15 | 2,000,000 | 2,061,702 | |||||
Albemarle Corp. | BBB+ | 4.50 | 12/15/20 | 2,000,000 | 2,144,486 | |||||
Alcoa, Inc. | BBB- | 6.75 | 07/15/18 | 4,000,000 | 4,595,736 | |||||
Carpenter Technology Corp. | BBB | 4.45 | 03/01/23 | 3,600,000 | 3,702,784 |
MUTUAL OF AMERICA INVESTMENT CORPORATION - BOND FUND
PORTFOLIO OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Domtar Corp. | BBB- | 4.40 | 04/01/22 | 4,000,000 | 4,118,084 | |||||||||
Eastman Chemical Co. | BBB | 4.50 | 01/15/21 | 2,500,000 | 2,660,473 | |||||||||
Freeport-McMoRan Copper & Gold | BBB | 3.55 | 03/01/22 | 4,000,000 | 3,961,200 | |||||||||
Geon Co. | BBB- | 7.50 | 12/15/15 | 3,750,000 | 4,050,000 | |||||||||
Goldcorp, Inc. | BBB+ | 2.13 | 03/15/18 | 4,000,000 | 4,012,064 | |||||||||
Kinross Gold Corp. | BBB- | 5.13 | 09/01/21 | 4,000,000 | 4,143,200 | |||||||||
Methanex Corp. | BBB- | 3.25 | 12/15/19 | 3,400,000 | 3,481,131 | |||||||||
Methanex Corp. | BBB- | 5.25 | 03/01/22 | 600,000 | 663,372 | |||||||||
Newmont Mining Corp. | BBB | 3.50 | 03/15/22 | 4,000,000 | 3,856,568 | |||||||||
Packaging Corp. of America | BBB | 3.90 | 06/15/22 | 2,000,000 | 2,054,168 | |||||||||
Packaging Corp. of America | BBB | 4.50 | 11/01/23 | 2,000,000 | 2,142,160 | |||||||||
Southern Copper Corp. | BBB | 3.50 | 11/08/22 | 4,000,000 | 3,895,004 | |||||||||
Teck Resources Ltd. | BBB | 3.75 | 02/01/23 | 1,000,000 | 970,930 | |||||||||
Teck Resources Ltd. | BBB | 4.75 | 01/15/22 | 3,000,000 | 3,147,846 | |||||||||
Vulcan Materials Co. | BB | 5.93 | 06/15/18 | 2,000,000 | 2,302,500 | |||||||||
| ||||||||||||||
57,963,408 | ||||||||||||||
| ||||||||||||||
TELECOMMUNICATION SERVICES (0.9%) | ||||||||||||||
AT&T, Inc. | A- | 3.00 | 02/15/22 | 4,000,000 | 3,982,104 | |||||||||
CenturyLink, Inc. | BB | 5.00 | 02/15/15 | 2,000,000 | 2,042,500 | |||||||||
Verizon Communications, Inc. | BBB+ | 4.50 | 09/15/20 | 2,000,000 | 2,199,984 | |||||||||
| ||||||||||||||
8,224,588 | ||||||||||||||
| ||||||||||||||
UTILITIES (3.2%) | ||||||||||||||
AGL Capital Corp. | BBB+ | 6.38 | 07/15/16 | 500,000 | 551,629 | |||||||||
Constellation Energy | BBB- | 5.15 | 12/01/20 | 3,000,000 | 3,381,234 | |||||||||
Duke Energy Progress, Inc. | A | 5.25 | 12/15/15 | 2,000,000 | 2,135,088 | |||||||||
Entergy Corp. | BBB- | 4.70 | 01/15/17 | 1,500,000 | 1,618,424 | |||||||||
Entergy Corp. | BBB- | 5.13 | 09/15/20 | 2,500,000 | 2,774,678 | |||||||||
Exelon Generation Co. LLC | BBB | 4.25 | 06/15/22 | 1,000,000 | 1,044,153 | |||||||||
Illinois Power Generating Co. | CCC+ | 6.30 | 04/01/20 | 2,500,000 | 2,465,625 | |||||||||
National Fuel Gas Co. | BBB | 4.90 | 12/01/21 | 3,000,000 | 3,270,783 | |||||||||
PPL Energy Supply LLC | BB | 4.60 | 12/15/21 | 2,000,000 | 1,991,726 | |||||||||
PPL Energy Supply LLC | BB | 5.40 | 08/15/14 | 2,000,000 | 2,007,268 | |||||||||
SCANA Corp. | BBB | 4.13 | 02/01/22 | 4,000,000 | 4,182,408 | |||||||||
UIL Hldgs. Corp. | BBB- | 4.63 | 10/01/20 | 2,725,000 | 2,862,809 | |||||||||
| ||||||||||||||
28,285,825 | ||||||||||||||
| ||||||||||||||
SOVEREIGN DEBT (0.5%) | ||||||||||||||
Sri Lanka AID | NR | 6.59 | 09/15/28 | 3,354,760 | 4,077,871 | |||||||||
| ||||||||||||||
TOTAL LONG-TERM DEBT SECURITIES | 880,166,666 | |||||||||||||
| ||||||||||||||
Rating** | Rate(%) | Maturity | Face Amount. | Value | ||||||||||
SHORT-TERM DEBT SECURITIES: | ||||||||||||||
COMMERCIAL PAPER (1.8%) | ||||||||||||||
Precision Castparts Corp.† | A-1 | 0.08 | 07/14/14 | 10,000,000 | 9,999,711 | |||||||||
San Diego Gas & Electric Co.† | A-1 | 0.11 | 07/01/14 | 6,300,000 | 6,300,000 | |||||||||
16,299,711 | ||||||||||||||
TOTAL SHORT-TERM DEBT SECURITIES | 16,299,711 | |||||||||||||
TEMPORARY CASH INVESTMENTS (2) | 350,700 | |||||||||||||
TOTAL INVESTMENTS | 896,817,077 | |||||||||||||
OTHER NET ASSETS -0.6% | (5,932,467) | |||||||||||||
NET ASSETS 100.0% | $890,884,610 | |||||||||||||
|
The accompanying notes are an integral part of these portfolio schedules.
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Abbreviations: | FFCB = Federal Farm Credit Bank | |
FHARM = Federal Home Adjustable Rate Mortgage | ||
FHLB = Federal Home Loan Bank | ||
FHLMC = Federal Home Loan Mortgage Corporation | ||
FNMA = Federal National Mortgage Association | ||
GNMA = Government National Mortgage Association | ||
NR = Not Rated |
* Non-income producing security.
** Ratings as per Standard & Poor’s Corporation (unaudited).
† Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2014, the aggregate values of these securities and their percentages of the respective Funds’ net assets were as follows:
Fund | Aggregate Market Value | Percentage | ||||||||||||
EQUITY INDEX FUND | $28,349,364 | 1.8% | ||||||||||||
ALL AMERICA FUND | $1,000,000 | 0.3% | ||||||||||||
SMALL CAP VALUE FUND | $21,499,872 | 5.6% | ||||||||||||
SMALL CAP GROWTH FUND | $17,499,650 | 4.4% | ||||||||||||
MID CAP VALUE FUND | $599,930 | 0.7% | ||||||||||||
MID-CAP EQUITY INDEX FUND | $14,399,950 | 1.5% | ||||||||||||
INTERNATIONAL FUND | $2,600,000 | 1.0% | ||||||||||||
COMPOSITE FUND | $3,434,388 | 1.8% | ||||||||||||
MONEY MARKET FUND | $47,745,714 | 59.8% | ||||||||||||
MID-TERM BOND FUND | $6,129,521 | 1.5% | ||||||||||||
BOND FUND | $32,879,428 | 3.7% |
(1) | This security, or a portion thereof, has been segregated to cover initial margin requirements on open futures contracts. |
Information on futures contracts outstanding in the Funds as of June 30, 2014, was as follows:
Fund | Number of Contracts | Contract Type | Purchased (P) or Sold (S) | Expiration Date | Underlying Face Amount at Value(a) | Unrealized Gain(Loss) | Face Value of Futures as a % of Total Investments | |||||||||||
EQUITY INDEX FUND | 433 | E-mini S&P 500 Stock Index | P | September 2014 | $42,269,460 | $570,644 | 2.7% | |||||||||||
ALL AMERICA FUND | 15 | E-mini S&P 500 Stock Index | P | September 2014 | $1,464,300 | $14,225 | 0.5% | |||||||||||
MID-CAP EQUITY INDEX FUND | 220 | E-mini S&P MidCap 400 Stock Index | P | September 2014 | $31,444,600 | $487,430 | 3.3% |
(a) | Includes the cumulative appreciation(depreciation) of futures contracts. |
(2) | The fund has an arrangement with its custodian bank, JP Morgan Chase Bank, whereby uninvested cash, subject to parameters set by the fund, is automatically invested in the fund’s name by the bank in overnight commercial paper issued by J.P. Morgan Chase & Co. On the next business day, these funds (and earned interest) are automatically returned to the fund. The annual rate of interest earned on this temporary cash investment at June 30, 2014 was 0.15%. |
(3) | Percentage is less than 0.05%. |
(4) | U.S. Government guaranteed security. |
Fair Value—The Investment Company values its investments at fair value. Fair value is an estimate of the price the Fund would receive upon selling a security in an orderly arms-length transaction. Investments are categorized based on a three-level valuation hierarchy for measurement and disclosure of fair value. The valuation hierarchy is based upon the transparency of inputs used to measure fair value. These inputs are summarized in the three broad levels listed below:
• | Level 1 – quoted prices in active markets for identical securities. |
• | Level 2 – other significant observable inputs (including yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds, trading characteristics, etc.). |
• | Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments). |
As of June 30, 2014, management determined that the fair value inputs for all equity securities, including shares of registered investment companies, were considered Level 1, with the exception of non-registered securities under Rule 144A of the Securities Act of 1933 which were considered Level 2. In addition, certain Rule 144A securities not actively traded were considered Level 3; however, there were no such securities as of June 30, 2014. Fair value inputs for all debt securities were considered Level 2. The inputs used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between levels are reflected based on the fair value at the beginning of a reporting period.
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
The following is a summary of the inputs used to value the Funds’ investments and other financial instruments as of June 30, 2014:
Fund | Level 1 – Quoted Prices | Level 2 – Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||||||
Investments at Fair Value: | ||||||||||||
(See Portfolios of Investments for More Details) | ||||||||||||
Equity Index Fund | ||||||||||||
Common Stock | $1,549,147,984 | - | - | $1,549,147,984 | ||||||||
Short-Term Debt Securities | - | $40,949,216 | - | $40,949,216 | ||||||||
Temporary Cash Investments | - | $375,600 | - | $375,600 | ||||||||
| ||||||||||||
$1,549,147,984 | $41,324,816 | - | $1,590,472,800 | |||||||||
All America Fund | ||||||||||||
Common Stock - Indexed | $186,809,131 | - | - | $186,809,131 | ||||||||
Common Stock - Active | $128,228,315 | - | - | $128,228,315 | ||||||||
Convertible Preferred Stock - Active | $143,755 | - | - | $143,755 | ||||||||
Short-Term Debt Securities - Indexed | - | $1,199,997 | - | $1,199,997 | ||||||||
Short-Term Debt Securities - Active | - | $3,199,575 | - | $3,199,575 | ||||||||
Temporary Cash Investments | - | $1,215,000 | - | $1,215,000 | ||||||||
| ||||||||||||
$315,181,201 | $5,614,572 | - | $320,795,773 | |||||||||
Small Cap Value Fund | ||||||||||||
Common Stock | $361,735,627 | - | - | $361,735,627 | ||||||||
Convertible Preferred Stock | $1,100,139 | - | - | $1,100,139 | ||||||||
Short-Term Debt Securities | - | $21,499,872 | - | $21,499,872 | ||||||||
| ||||||||||||
$362,835,766 | $21,499,872 | - | $384,335,638 | |||||||||
Small Cap Growth Fund | ||||||||||||
Common Stock | $379,406,731 | - | - | $379,406,731 | ||||||||
Short-Term Debt Securities | - | $22,199,485 | - | $22,199,485 | ||||||||
| ||||||||||||
$379,406,731 | $22,199,485 | - | $401,606,216 | |||||||||
Mid Cap Value Fund | ||||||||||||
Common Stock | $84,679,543 | - | - | $84,679,543 | ||||||||
Short-Term Debt Securities | - | $1,399,777 | - | $1,399,777 | ||||||||
| ||||||||||||
$84,679,543 | $1,399,777 | - | $86,079,320 | |||||||||
Mid-Cap Equity Index Fund | ||||||||||||
Common Stock | $929,983,951 | - | - | $929,983,951 | ||||||||
Short-Term Debt Securities | - | $20,899,882 | - | $20,899,882 | ||||||||
Temporary Cash Investments | - | $300,400 | - | $300,400 | ||||||||
| ||||||||||||
$929,983,951 | $21,200,282 | - | $951,184,233 | |||||||||
International Fund | ||||||||||||
Common Stock | $263,068,272 | - | - | $263,068,272 | ||||||||
Short-Term Debt Securities | - | $2,600,000 | - | $2,600,000 | ||||||||
| ||||||||||||
$263,068,272 | $2,600,000 | - | $265,668,272 | |||||||||
Composite Fund | ||||||||||||
Common Stock | $112,667,962 | - | - | $112,667,962 | ||||||||
U.S. Government Debt | - | $14,488,771 | - | $14,488,771 | ||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | - | $23,985,504 | - | $23,985,504 | ||||||||
U.S. Government Agency Non-Mortgage-Backed Obligations | - | $437,942 | - | $437,942 | ||||||||
Long-Term Corporate Debt | - | $33,484,927 | - | $33,484,927 | ||||||||
Short-Term Debt Securities | - | $3,699,792 | - | $3,699,792 | ||||||||
Temporary Cash Investments | - | $898,100 | - | $898,100 | ||||||||
| ||||||||||||
$112,667,962 | $76,995,036 | - | $189,662,998 | |||||||||
Retirement Income Fund | ||||||||||||
Common Stock | $44,080,559 | - | - | $44,080,559 | ||||||||
2010 Retirement Fund | ||||||||||||
Common Stock | $25,008,239 | - | - | $25,008,239 | ||||||||
2015 Retirement Fund | ||||||||||||
Common Stock | $142,360,488 | - | - | $142,360,488 | ||||||||
2020 Retirement Fund | ||||||||||||
Common Stock | $278,589,082 | - | - | $278,589,082 | ||||||||
2025 Retirement Fund | ||||||||||||
Common Stock | $287,902,149 | - | - | $287,902,149 |
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
2030 Retirement Fund | ||||||||||||
Common Stock | $240,082,467 | - | - | $240,082,467 | ||||||||
2035 Retirement Fund | ||||||||||||
Common Stock | $198,604,944 | - | - | $198,604,944 | ||||||||
2040 Retirement Fund | ||||||||||||
Common Stock | $165,879,032 | - | - | $165,879,032 | ||||||||
2045 Retirement Fund | ||||||||||||
Common Stock | $210,672,377 | - | - | $210,672,377 | ||||||||
2050 Retirement Fund | ||||||||||||
Common Stock | $31,482,175 | - | - | $31,482,175 | ||||||||
Conservative Allocation Fund | ||||||||||||
Common Stock | $106,930,979 | - | - | $106,930,979 | ||||||||
Moderate Allocation Fund | ||||||||||||
Common Stock | $303,425,412 | - | - | $303,425,412 | ||||||||
Aggressive Allocation Fund | ||||||||||||
Common Stock | $251,232,532 | - | - | $251,232,532 | ||||||||
Money Market Fund | ||||||||||||
U.S. Government Agency Short-Term Debt | - | $9,699,314 | - | $9,699,314 | ||||||||
Commercial Paper | - | $70,143,018 | - | $70,143,018 | ||||||||
Temporary Cash Investments | - | $43,400 | - | $43,400 | ||||||||
| ||||||||||||
- | $79,885,732 | - | $79,885,732 | |||||||||
Mid-Term Bond Fund | ||||||||||||
U.S. Government Debt | - | $140,192,029 | - | $140,192,029 | ||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | - | $7,068 | - | $7,068 | ||||||||
U.S. Government Agency Non-Mortgage-Backed Obligations | - | $24,146,543 | - | $24,146,543 | ||||||||
Long-Term Corporate Debt | - | $248,953,458 | - | $248,953,458 | ||||||||
Temporary Cash Investments | - | $11,100 | - | $11,100 | ||||||||
| ||||||||||||
- | $413,310,198 | - | $413,310,198 | |||||||||
Bond Fund | ||||||||||||
U.S. Government Debt | - | $87,027,631 | - | $87,027,631 | ||||||||
U.S. Government Agency Residential Mortgage-Backed Obligations | - | $237,079,390 | - | $237,079,390 | ||||||||
U.S. Government Agency Non-Mortgage-Backed Obligations | - | $26,971,799 | - | $26,971,799 | ||||||||
Long-Term Corporate Debt | - | $525,009,975 | - | $525,009,975 | ||||||||
Sovereign Debt | - | $4,077,871 | - | $4,077,871 | ||||||||
Short-Term Debt Securities | - | $16,299,711 | - | $16,299,711 | ||||||||
Temporary Cash Investments | - | $350,700 | - | $350,700 | ||||||||
| ||||||||||||
- | $896,817,077 | - | $896,817,077 | |||||||||
Other Financial Instruments:* | ||||||||||||
Equity Index Fund | $570,644 | — | — | $570,644 | ||||||||
All America Fund | $14,225 | — | — | $14,225 | ||||||||
Mid-Cap Equity Index Fund | $487,430 | — | — | $487,430 |
* Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures, which are valued at the unrealized appreciation/depreciation on the instrument.
During the six month period ended June 30, 2014, there were no transfers of securities between Level 1, Level 2 or Level 3.
Security Valuation — Investment securities are carried at fair value as follows:
Exchange-traded equity securities are valued at the last reported sales price on the principal exchange on which the security is traded. If there is no trading volume for a particular valuation day, the last bid price is used. For equity securities traded in the over-the-counter market, the security is valued at the last sale price, or if no sale, at the latest bid price available.
Short-term debt securities with a maturity of 60 days or less are valued at amortized cost, which approximates fair value for such securities.
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Debt securities, including short-term debt securities maturing in excess of 60 days, are valued on the basis of prices obtained from an independent pricing source. The pricing source may utilize various pricing methodologies that incorporate both models (which consider factors such as yield, quality, coupon rate, maturity, issue type, quoted prices for similar securities, prepayment speeds and trading characteristics) and dealer supplied valuations to derive a valuation.
In the rare instance when a price is not available from an independent pricing source or when prices may not reflect fair value, such as when the price provided by the pricing source is not based on a recent trade, a calculated fair value is used, as determined in good faith by the Adviser and reviewed by a Valuation Committee, in accordance with procedures adopted by the Board of Directors of the Investment Company.
The Advisor uses a market approach to calculate fair value for equity securities which are categorized as Level 3. The Adviser’s valuation is primarily based on information regarding the specific equity issuer, such as the last trade price, financial statements, the relationship of per-share book value to the last trade price, operating information and any corporate actions, such as dividends or returns of capital, that may have occurred since the last trade. The Adviser also considers industry-specific conditions and overall market conditions, to determine whether the last trade price reflects fair value or needs to be adjusted. Generally, absent any significant contrary indications, the last trade price will be used to calculate fair value.
Retirement Funds and the Allocation Funds value their investments in the underlying Funds of the Investment Company at their respective net asset values.
Investment Transactions — Investment transactions are accounted for as of the trade date. Realized gain and loss on the sale of short and long-term debt securities are computed on the basis of amortized cost at the time of sale. Realized gains and losses on the sale of equity securities are based on the identified cost basis of the security, determined on the first-in, first-out (“FIFO”) basis.
Futures Contracts - The Equity Index Fund, Mid-Cap Equity Index Fund and a portion of the All America Fund each maintain indexed asset portfolios which are subject to equity price risk. In order to remain more fully invested in the equity markets while minimizing transaction costs, the funds purchase stock index futures contracts. An initial cash margin deposit (represented by cash or Treasury bills) is made upon entering into a futures contract and serves as collateral for the contract. This initial margin, maintained in a segregated account, is equal to approximately 5%-6% of the contract amount, and does not involve the borrowing of funds to finance the transaction. During the period the futures contract is outstanding, changes in the value of the contract are recognized as unrealized appreciation or depreciation by “marking-to-market” on a daily basis to reflect the market value of the contract at the end of each trading day. The accumulated unrealized appreciation or depreciation on the contract is included in Net Unrealized Appreciation (Depreciation) of Investments and Futures Contracts in the Components of Net Assets section of the Statements of Assets and Liabilities.
Futures contracts are valued at the settlement price established each day by the exchange on which traded. Depending upon whether unrealized appreciation or depreciation are incurred, variation margin payments are received or made daily. The net change in unrealized appreciation or depreciation of futures contracts is recorded in the Statements of Operations. When the contract is closed, a realized gain or loss from futures transactions is recorded in the Statements of Operations, equal to the net variation margin received or paid over the period the contract was outstanding. The “Underlying Face Amount at Value” (appearing in the “Notes to the Portfolios of Investments in Securities”), representing the aggregate of outstanding contractual amounts under futures contracts, reflects the extent of a Fund’s exposure to off-balance sheet risk. The use of futures transactions involves the risk of imperfect correlation in the price movements of the contract and the underlying securities. With futures contracts, there is minimal counterparty credit risk to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
Tax Information - The components of net unrealized appreciation (depreciation) of investments for Federal income tax purposes and the cost of investments for Federal income tax purposes at June 30, 2014 for each of the funds were as follows.
Equity Index Fund | All America Fund | Small Cap Value Fund | Small Cap Growth Fund | Mid Cap Value Fund | ||||||||||||||||
Unrealized Appreciation | $ | 623,303,652 | $ | 98,463,934 | $ | 101,677,614 | $ | 95,882,666 | $ | 18,167,166 | ||||||||||
Unrealized Depreciation | (19,933,897) | (10,454,582) | (11,541,520) | (9,269,800) | (1,251,438) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 603,369,755 | $ | 88,009,352 | $ | 90,136,094 | $ | 86,612,866 | $ | 16,915,728 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Cost of Investments | $ | 987,103,045 | $ | 232,786,421 | $ | 294,199,544 | $ | 314,993,350 | $ | 69,163,592 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Mid-Cap Equity Index Fund | International Fund | Composite Fund | Retirement Income Fund | 2010 Retirement Fund | ||||||||||||||||
Unrealized Appreciation | $ | 304,820,043 | $ | 32,552,288 | $ | 45,021,797 | $ | 3,571,062 | $ | 3,087,930 | ||||||||||
Unrealized Depreciation | (13,606,379) | (1,738,176) | (1,771,542) | (93,544) | (13,314) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 291,213,664 | $ | 30,814,112 | $ | 43,250,255 | $ | 3,477,518 | $ | 3,074,616 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Cost of Investments | $ | 659,970,569 | $ | 234,854,160 | $ | 146,412,743 | $ | 40,603,041 | $ | 21,933,623 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2015 Retirement Fund | 2020 Retirement Fund | 2025 Retirement Fund | 2030 Retirement Fund | 2035 Retirement Fund | ||||||||||||||||
Unrealized Appreciation | $ | 22,453,497 | $ | 48,203,534 | $ | 60,464,977 | $ | 55,722,215 | $ | 49,194,797 | ||||||||||
Unrealized Depreciation | (322,117) | (954,615) | (944,624) | (765,249) | (641,222) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 22,131,380 | $ | 47,248,919 | $ | 59,520,353 | $ | 54,956,966 | $ | 48,553,575 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Cost of Investments | $ | 120,229,108 | $ | 231,340,163 | $ | 228,381,796 | $ | 185,125,501 | $ | 150,051,369 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
2040 Retirement Fund | 2045 Retirement Fund | 2050 Retirement Fund | Conservative Fund | Moderate Fund | ||||||||||||||||
Unrealized Appreciation | $ | 44,386,277 | $ | 57,283,121 | $ | 3,707,947 | $ | 10,747,128 | $ | 63,764,769 | ||||||||||
Unrealized Depreciation | (351,119) | (498,934) | (896) | (56,210) | (6,418,047) | |||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Net | $ | 44,035,158 | $ | 56,784,187 | $ | 3,707,051 | $ | 10,690,918 | $ | 57,346,722 | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Cost of Investments | $ | 121,843,874 | $ | 153,888,190 | $ | 27,775,124 | $ | 96,240,061 | $ | 246,078,690 | ||||||||||
|
|
|
|
|
|
|
|
|
|
MUTUAL OF AMERICA INVESTMENT CORPORATION
FOOTNOTES TO PORTFOLIOS OF INVESTMENTS IN SECURITIES
June 30, 2014 (Unaudited)
Aggressive Fund | Money Market Fund | Mid-Term Bond Fund | Bond Fund | |||||||||||||
Unrealized Appreciation | $ | 70,210,092 | $ | 5 | $ | 13,191,053 | $ | 34,445,147 | ||||||||
Unrealized Depreciation | (4,493,312) | (387) | (814,841) | (4,476,668) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net | $ | 65,716,780 | $ | (382) | $ | 12,376,212 | $ | 29,968,479 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Cost of Investments | $ | 185,515,752 | $ | 79,886,114 | $ | 400,933,986 | $ | 866,848,598 | ||||||||
|
|
|
|
|
|
|
|
Differences in basis between amounts reflected in the Schedules of Investments and those computed for Federal income tax purposes arise from the Federal income tax treatment of wash sales and futures contracts.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not applicable.
ITEM 11. CONTROLS AND PROCEDURES.
(a) | The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported in a timely and accurate manner. | |
(b) | The registrant’s principal executive officer and principal financial officer are aware of no changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is likely to materially affect, the registrant’s internal control over financial reporting. |
ITEM 12. EXHIBITS.
Attached hereto:
(a) | (1) | Not applicable to semi-annual report. | ||||
(2) | Exhibit 99.CERT | Certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(a) under the Investment Company Act of 1940. | ||||
(3) | Not applicable. | |||||
(b) | Exhibit 99.906CERT | Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and required by Rule 30a-2(b) under the Investment Company Act of 1940. |
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.
Mutual of America Investment Corporation | ||||
By: | /s/ JOHN R. GREED | |||
| ||||
John R. Greed | ||||
Chairman of the Board, | ||||
President and Chief Executive Officer of | ||||
Mutual of America Investment Corporation |
Date: September 4, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ JOHN R. GREED | |||
| ||||
John R. Greed | ||||
Chairman of the Board, | ||||
President and Chief Executive Officer of | ||||
Mutual of America Investment Corporation |
Date: September 4, 2014
By: | /s/ GEORGE L. MEDLIN | |||
| ||||
George L. Medlin | ||||
Executive Vice President, | ||||
Chief Financial Officer and Treasurer of | ||||
Mutual of America Investment Corporation |
Date: September 4, 2014