Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMN-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-08918
HC Capital Trust
(Exact name of Registrant as specified in charter)
Five Tower Bridge, 300 Barr Harbor Drive, 5th Floor, West Conshohocken, PA 19428
(Address of principal executive offices) (Zip code)
Citi Fund Services Ohio, Inc., 4400 Easton Commons, Suite 200, Columbus, OH 43219
(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 242-9596
Date of fiscal year end: June 30
Date of reporting period: December 31, 2018
Table of Contents
Item 1. Reports to Stockholders.
Table of Contents
Semiannual Report (Unaudited)
The Value Equity Portfolio
The Institutional Value Equity Portfolio
The Growth Equity Portfolio
The Institutional Growth Equity Portfolio
The Small Capitalization–Mid Capitalization Equity Portfolio
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio
The Real Estate Securities Portfolio
The Commodity Returns Strategy Portfolio
The ESG Growth Portfolio
The Catholic SRI Growth Portfolio
The International Equity Portfolio
The Institutional International Equity Portfolio
The Emerging Markets Portfolio
The Core Fixed Income Portfolio
The Fixed Income Opportunity Portfolio
The U.S. Government Fixed Income Securities Portfolio
The Inflation Protected Securities Portfolio
The U.S. Corporate Fixed Income Securities Portfolio
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
The Short-Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond Portfolio
The Intermediate Term Municipal Bond II Portfolio
December 31, 2018
Table of Contents
December 31, 2018 (Unaudited)
We are pleased to present the December 31, 2018 Semiannual Report for the HC Capital Trust (the “Trust”).
The Trust is an open-end management investment company. As of December 31, 2018, the Trust consisted of twenty-two separate investment portfolios (the “Portfolios”). Day-to-day portfolio management services are provided to each of the Trust’s Portfolios by one or more independent money management organizations (“Specialist Managers”). Each Specialist Manager is subject to the supervision of HC Capital Solutions, an operating division of Hirtle Callaghan & Co., LLC, which serves as the Trust’s primary investment adviser and to the general oversight of the Trust’s Board of Trustees.
The Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Institutional Value Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of large companies with relatively low price-earnings ratios and high dividend yields.
The Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Institutional Growth Equity Portfolio, seeks capital appreciation by investing in a diversified portfolio of equity securities of large and mid-capitalization companies with superior prospects for earnings growth.
The Small Capitalization–Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small and mid-capitalization companies.
The Institutional Small Capitalization–Mid Capitalization Equity Portfolio, seeks long-term capital appreciation by investing in a diversified portfolio of equity securities of small and mid-capitalization companies.
The Real Estate Securities Portfolio, seeks to provide a total return consisting of both capital appreciation and current income by managing securities issued by real-estate related companies.
The Commodity Returns Strategy Portfolio, presented as Consolidated, seeks capital appreciation by investing in a diversified portfolio of commodity-related instruments.
The ESG Growth Portfolio, seeks to maximize total return subject to emphasizing environmental, social and governance (“ESG”) focused investments.
The Catholic SRI Growth Portfolio, seeks to maximize total return integrating a range of social and moral concerns into its security selection process.
The International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Institutional International Equity Portfolio, seeks total return by investing in a diversified portfolio of equity securities of companies based in countries other than the United States of America.
The Emerging Markets Portfolio, seeks total return, primarily through capital appreciation, by investing in a diversified portfolio of securities issued by companies domiciled, or doing a substantial portion of their business, in countries with a developing or emerging economy or securities market.
The Core Fixed Income Portfolio, seeks current income, consistent with the preservation of capital, by investing in a diversified portfolio of debt securities, including U.S. and non-U.S. government securities, corporate debt securities, and asset-backed issues.
The Fixed Income Opportunity Portfolio, seeks to achieve above-average total return by investing in high yield securities (commonly referred to as “junk bonds”).
The U.S. Government Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of U.S. Treasury and government related fixed income securities.
The Inflation Protected Securities Portfolio, seeks to provide inflation protection and income consistent with investment in inflation-indexed securities.
The U.S. Corporate Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of investment grade fixed income securities issued by U.S. corporations.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, seeks to provide a moderate and sustainable level of current income, consistent with the preservation of capital by investing primarily in a diversified portfolio of publicly issued mortgage and asset backed securities.
The Short-Term Municipal Bond Portfolio, seeks current income exempt from Federal income tax, consistent with preservation of capital, by investing primarily in securities issued by municipalities and related securities.
The Intermediate Term Municipal Bond Portfolio, seeks current income, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
The Intermediate Term Municipal Bond II Portfolio, seeks current income, consistent with the preservation of capital, exempt from Federal income tax by investing in securities issued by municipalities and related entities.
Table of Contents
HC CAPITAL TRUST | Semiannual Report (Unaudited) |
December 31, 2018
1 | ||||
195 | ||||
201 | ||||
207 | ||||
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264 |
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 97.75% |
| |||||||
Aerospace & Defense — 2.10% |
| |||||||
2,752 | Arconic, Inc. | $ | 46 | |||||
686 | General Dynamics Corp. | 108 | ||||||
515 | Harris Corp. | 69 | ||||||
17,611 | HEICO Corp. | 1,365 | ||||||
1,168 | Hexcel Corp. | 67 | ||||||
491 | Huntington Ingalls Industries, Inc. | 93 | ||||||
438 | L3 Technologies, Inc. | 76 | ||||||
5,411 | Lockheed Martin Corp. | 1,417 | ||||||
999 | Raytheon Co. | 153 | ||||||
19,966 | Spirit Aerosystems Holdings, Inc., Class – A | 1,439 | ||||||
200 | Teledyne Technologies, Inc. (a) | 41 | ||||||
4,149 | Textron, Inc. | 191 | ||||||
5,139 | The Boeing Co. | 1,657 | ||||||
5,010 | TransDigm Group, Inc. (a) | 1,704 | ||||||
22,378 | United Technologies Corp. | 2,384 | ||||||
|
| |||||||
10,810 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.43% |
| |||||||
305 | Expeditors International of Washington, Inc. | 21 | ||||||
22,229 | United Parcel Service, Inc., Class – B | 2,168 | ||||||
200 | XPO Logistics, Inc. (a) | 11 | ||||||
|
| |||||||
2,200 | ||||||||
|
| |||||||
Airlines — 0.54% |
| |||||||
10,770 | Alaska Air Group, Inc. | 655 | ||||||
7,467 | American Airlines Group, Inc. | 240 | ||||||
2,135 | Copa Holdings SA, Class – A | 168 | ||||||
29,439 | Delta Air Lines, Inc. | 1,470 | ||||||
2,836 | United Continental Holdings, Inc. (a) | 237 | ||||||
|
| |||||||
2,770 | ||||||||
|
| |||||||
Auto Components — 0.69% |
| |||||||
120,720 | Garrett Motion, Inc. (a) | 1,490 | ||||||
585 | Gentex Corp. | 12 | ||||||
4,875 | Goodyear Tire & Rubber Co. | 99 | ||||||
12,566 | Lear Corp. | 1,544 | ||||||
9,332 | Magna International, Inc., ADR | 424 | ||||||
|
| |||||||
3,569 | ||||||||
|
| |||||||
Automobiles — 0.23% |
| |||||||
35,065 | General Motors Co. | 1,173 | ||||||
|
| |||||||
Banks — 6.75% |
| |||||||
376,423 | Bank of America Corp. | 9,276 | ||||||
4,050 | Bank OZK | 92 | ||||||
56,585 | BB&T Corp. | 2,451 | ||||||
88,234 | Citigroup, Inc. | 4,593 | ||||||
34,812 | Citizens Financial Group, Inc. | 1,035 | ||||||
2,863 | Comerica, Inc. | 197 | ||||||
541 | Commerce Bancshares, Inc. | 30 | ||||||
1,552 | Cullen/Frost Bankers, Inc. | 136 | ||||||
2,026 | First Republic Bank | 176 | ||||||
64,820 | FNB Corp. | 638 | ||||||
95,276 | JPMorgan Chase & Co. | 9,302 | ||||||
12,542 | Pinnacle Financial Partners, Inc. | 578 | ||||||
30,461 | PNC Financial Services Group, Inc. | 3,561 | ||||||
1,149 | Signature Bank | 118 | ||||||
7,450 | Sterling Bancorp/DE | 123 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) |
| |||||||
710 | SVB Financial Group (a) | $ | 135 | |||||
4,006 | U.S. Bancorp | 183 | ||||||
43,019 | Wells Fargo & Co. | 1,982 | ||||||
2,420 | Zions Bancorp | 99 | ||||||
|
| |||||||
34,705 | ||||||||
|
| |||||||
Beverages — 1.54% |
| |||||||
1,703 | Keurig Dr Pepper, Inc. | 44 | ||||||
9,496 | Molson Coors Brewing Co., Class – B | 533 | ||||||
2,815 | Monster Beverage Corp. (a) | 139 | ||||||
26,364 | PepsiCo, Inc. | 2,913 | ||||||
90,702 | The Coca-Cola Co. | 4,294 | ||||||
|
| |||||||
7,923 | ||||||||
|
| |||||||
Biotechnology — 2.13% |
| |||||||
28,832 | AbbVie, Inc. | 2,658 | ||||||
6,002 | Alexion Pharmaceuticals, Inc. (a) | 584 | ||||||
14,278 | Amgen, Inc. | 2,779 | ||||||
1,850 | Biogen Idec, Inc. (a) | 557 | ||||||
71,616 | Exelixis, Inc. (a) | 1,409 | ||||||
764 | Regeneron Pharmaceuticals, Inc. (a) | 285 | ||||||
8,247 | Seattle Genetics, Inc. (a) | 467 | ||||||
13,207 | Vertex Pharmaceuticals, Inc. (a) | 2,189 | ||||||
|
| |||||||
10,928 | ||||||||
|
| |||||||
Building Products — 0.20% |
| |||||||
18,210 | A.O. Smith Corp. | 777 | ||||||
1,055 | Allegion PLC | 84 | ||||||
270 | Lennox International, Inc. | 59 | ||||||
299 | Resideo Technologies, Inc. (a) | 6 | ||||||
1,421 | USG Corp. | 61 | ||||||
|
| |||||||
987 | ||||||||
|
| |||||||
Capital Markets — 1.80% |
| |||||||
1,661 | Affiliated Managers Group, Inc. | 162 | ||||||
2,506 | Ameriprise Financial, Inc. | 262 | ||||||
35,037 | Bank of New York Mellon Corp. | 1,649 | ||||||
6,320 | BGC Partners, Inc., Class – A | 33 | ||||||
5,131 | BlackRock, Inc., Class – A | 2,016 | ||||||
1,669 | CME Group, Inc. | 314 | ||||||
1,544 | E*Trade Financial Corp. | 68 | ||||||
427 | Interactive Brokers Group, Inc., Class – A | 23 | ||||||
1,491 | IntercontinentalExchange Group, Inc. | 112 | ||||||
2,794 | Legg Mason, Inc. | 71 | ||||||
69,455 | Morgan Stanley | 2,754 | ||||||
14,561 | State Street Corp. | 918 | ||||||
7,780 | T. Rowe Price Group, Inc. | 718 | ||||||
162 | TD Ameritrade Holding Corp. | 8 | ||||||
1,370 | The Charles Schwab Corp. | 57 | ||||||
629 | The Nasdaq OMX Group, Inc. | 51 | ||||||
902 | Virtu Financial, Inc., Class – A | 23 | ||||||
|
| |||||||
9,239 | ||||||||
|
| |||||||
Chemicals — 1.75% |
| |||||||
10,282 | Air Products & Chemicals, Inc. | 1,646 | ||||||
349 | Ashland Global Holdings, Inc. | 25 | ||||||
2,760 | Cabot Corp. | 119 | ||||||
1,640 | Celanese Corp., Series A | 148 | ||||||
53,440 | CF Industries Holdings, Inc. | 2,324 |
See accompanying notes to financial statements.
1
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Chemicals (continued) |
| |||||||
27,952 | DowDuPont, Inc. | $ | 1,495 | |||||
11,833 | Huntsman Corp. | 228 | ||||||
3,028 | International Flavors & Fragrances, Inc. | 407 | ||||||
14,743 | LyondellBasell Industries N.V., Class – A | 1,226 | ||||||
249 | NewMarket Corp. | 103 | ||||||
10,412 | PPG Industries, Inc. | 1,064 | ||||||
2,274 | The Mosaic Co. | 66 | ||||||
1,862 | The ScottsMiracle-Gro Co. | 114 | ||||||
1,105 | Westlake Chemical Corp. | 73 | ||||||
|
| |||||||
9,038 | ||||||||
|
| |||||||
Commercial Services & Supplies — 0.69% |
| |||||||
7,281 | ADT, Inc. | 44 | ||||||
12,305 | Clean Harbors, Inc. (a) | 607 | ||||||
32,475 | Copart, Inc. (a) | 1,552 | ||||||
3,003 | KAR Auction Services, Inc. | 143 | ||||||
4,420 | Republic Services, Inc., Class – A | 319 | ||||||
9,860 | Waste Management, Inc. | 877 | ||||||
|
| |||||||
3,542 | ||||||||
|
| |||||||
Communications Equipment — 1.75% |
| |||||||
7,010 | Arista Networks, Inc. (a) | 1,477 | ||||||
9,013 | Arris International PLC (a) | 276 | ||||||
151,763 | Cisco Systems, Inc. | 6,575 | ||||||
543 | F5 Networks, Inc. (a) | 88 | ||||||
18,191 | Juniper Networks, Inc. | 490 | ||||||
826 | Motorola Solutions, Inc. | 95 | ||||||
|
| |||||||
9,001 | ||||||||
|
| |||||||
Construction & Engineering — 0.03% |
| |||||||
841 | Arcosa, Inc. (a) | 23 | ||||||
717 | Jacobs Engineering Group, Inc. | 42 | ||||||
2,295 | Quanta Services, Inc. | 69 | ||||||
|
| |||||||
134 | ||||||||
|
| |||||||
Construction Materials — 0.08% |
| |||||||
6,875 | Eagle Materials, Inc., Class – A | 420 | ||||||
|
| |||||||
Consumer Finance — 1.08% |
| |||||||
22,738 | American Express Co. | 2,167 | ||||||
39,194 | Capital One Financial Corp. | 2,963 | ||||||
6 | Credit Acceptance Corp. (a) | 2 | ||||||
14,450 | OneMain Holdings, Inc. (a) | 351 | ||||||
6,482 | SLM Corp. (a) | 54 | ||||||
|
| |||||||
5,537 | ||||||||
|
| |||||||
Containers & Packaging — 0.47% |
| |||||||
262 | AptarGroup, Inc. | 25 | ||||||
16,026 | Ardagh Group SA | 178 | ||||||
27 | Avery Dennison Corp. | 2 | ||||||
22,939 | Ball Corp. | 1,056 | ||||||
3,441 | Bemis Company, Inc. | 158 | ||||||
2,800 | Berry Plastics Group, Inc. (a) | 133 | ||||||
10,608 | International Paper Co. | 428 | ||||||
2,050 | Packaging Corporation of America | 171 | ||||||
3,067 | Silgan Holdings | 72 | ||||||
2,452 | Sonoco Products Co. | 130 | ||||||
2,384 | WestRock Co. | 90 | ||||||
|
| |||||||
2,443 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Distributors — 0.08% |
| |||||||
4,284 | Genuine Parts Co. | $ | 411 | |||||
|
| |||||||
Diversified Consumer Services — 0.44% |
| |||||||
12,786 | Bright Horizons Family Solutions, Inc. (a) | 1,425 | ||||||
1,046 | Graham Holdings Co. | 670 | ||||||
4,910 | H&R Block, Inc. | 125 | ||||||
957 | ServiceMaster Global Holdings, Inc. (a) | 35 | ||||||
|
| |||||||
2,255 | ||||||||
|
| |||||||
Diversified Financial Services — 1.42% |
| |||||||
34,490 | Berkshire Hathaway, Inc., Class – B (a) | 7,042 | ||||||
13,417 | Jefferies Financial Group, Inc. | 233 | ||||||
973 | Voya Financial, Inc. | 39 | ||||||
|
| |||||||
7,314 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 1.72% |
| |||||||
66,383 | AT&T, Inc. | 1,895 | ||||||
73,048 | CenturyLink, Inc. | 1,107 | ||||||
103,505 | Verizon Communications, Inc. | 5,818 | ||||||
|
| |||||||
8,820 | ||||||||
|
| |||||||
Electric Utilities — 1.92% |
| |||||||
1,604 | Alliant Energy Corp. | 68 | ||||||
31,281 | American Electric Power, Inc. | 2,338 | ||||||
21,660 | Duke Energy Corp. | 1,869 | ||||||
1,914 | Edison International | 109 | ||||||
2,737 | Evergy, Inc. | 155 | ||||||
9,746 | Eversource Energy | 634 | ||||||
9,276 | Exelon Corp. | 418 | ||||||
2,818 | FirstEnergy Corp. | 106 | ||||||
8,870 | NextEra Energy, Inc. | 1,542 | ||||||
2,414 | OGE Energy Corp. | 95 | ||||||
32,518 | PPL Corp. | 921 | ||||||
32,159 | The Southern Co. | 1,412 | ||||||
4,017 | Xcel Energy, Inc. | 198 | ||||||
|
| |||||||
9,865 | ||||||||
|
| |||||||
Electrical Equipment — 0.59% |
| |||||||
3,350 | AMETEK, Inc. | 227 | ||||||
12,355 | Eaton Corp. PLC | 849 | ||||||
16,658 | Emerson Electric Co. | 995 | ||||||
40,037 | GrafTech International Ltd. | 458 | ||||||
11,151 | nVent Electric PLC | 250 | ||||||
3,984 | Regal-Beloit Corp. | 279 | ||||||
|
| |||||||
3,058 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 0.17% |
| |||||||
769 | Arrow Electronics, Inc. (a) | 53 | ||||||
23,513 | Corning, Inc. | 710 | ||||||
512 | Dolby Laboratories, Inc., Class – A | 32 | ||||||
1,050 | Keysight Technologies, Inc. (a) | 65 | ||||||
|
| |||||||
860 | ||||||||
|
| |||||||
Energy Equipment & Services — 0.68% |
| |||||||
6,002 | RPC, Inc. | 59 | ||||||
94,894 | Schlumberger Ltd. | 3,424 | ||||||
|
| |||||||
3,483 | ||||||||
|
| |||||||
Entertainment — 1.54% |
| |||||||
4,863 | Cinemark Holdings, Inc. | 174 | ||||||
1,270 | Netflix, Inc. (a) | 340 |
See accompanying notes to financial statements.
2
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Entertainment (continued) |
| |||||||
92 | The Madison Square Garden Co., Class – A (a) | $ | 25 | |||||
13,143 | The Walt Disney Co. | 1,441 | ||||||
122,933 | Twenty-First Century Fox, Inc. | 5,915 | ||||||
95 | Twenty-First Century Fox, Inc., Class – B | 5 | ||||||
|
| |||||||
7,900 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 3.41% |
| |||||||
992 | Alexandria Real Estate Equities, Inc. | 114 | ||||||
17,907 | American Campus Communities, Inc. | 741 | ||||||
1,289 | American Homes 4 Rent, Class – A | 26 | ||||||
5,297 | American Tower Corp. | 838 | ||||||
2,612 | Apartment Investment & Management Co., Class – A | 115 | ||||||
6,634 | AvalonBay Communities, Inc. | 1,155 | ||||||
857 | Boston Properties, Inc. | 96 | ||||||
4,843 | Brixmor Property Group, Inc. | 71 | ||||||
6,970 | Camden Property Trust | 614 | ||||||
1,673 | Columbia Property Trust, Inc. | 32 | ||||||
2,473 | Crown Castle International Corp. | 269 | ||||||
2,592 | CubeSmart | 74 | ||||||
1,028 | CyrusOne, Inc. | 54 | ||||||
2,472 | Digital Realty Trust, Inc. | 263 | ||||||
1,889 | Douglas Emmett, Inc. | 64 | ||||||
3,821 | Duke Realty Corp. | 99 | ||||||
10,057 | EPR Properties | 644 | ||||||
1,061 | Equity Lifestyle Properties, Inc. | 103 | ||||||
1,516 | Equity Residential | 100 | ||||||
3,943 | Essex Property Trust, Inc. | 967 | ||||||
1,604 | Extra Space Storage, Inc. | 145 | ||||||
6,599 | Federal Realty Investment Trust | 779 | ||||||
3,157 | Gaming & Leisure Properties, Inc. | 102 | ||||||
3,643 | HCP, Inc. | 102 | ||||||
28,861 | Healthcare Trust of America, Inc., Class – A | 730 | ||||||
2,729 | Hospitality Properties Trust | 65 | ||||||
3,203 | Iron Mountain, Inc. | 104 | ||||||
1,138 | JBG SMITH Properties | 40 | ||||||
1,552 | Kilroy Realty Corp. | 98 | ||||||
6,452 | Kimco Realty Corp. | 95 | ||||||
846 | Lamar Advertising Co., Class – A | 59 | ||||||
2,212 | Liberty Property Trust | 93 | ||||||
770 | Life Storage, Inc. | 72 | ||||||
6,040 | Medical Properties Trust, Inc. | 97 | ||||||
1,065 | Mid-America Apartment Communities, Inc. | 102 | ||||||
2,155 | National Retail Properties, Inc. | 105 | ||||||
2,890 | OMEGA Healthcare Investors, Inc. | 102 | ||||||
2,375 | Outfront Media, Inc. | 43 | ||||||
3,591 | Parks Hotels & Resorts, Inc. | 93 | ||||||
9,049 | Prologis, Inc. | 531 | ||||||
1,410 | Public Storage | 285 | ||||||
19,572 | Realty Income Corp. | 1,233 | ||||||
13,636 | Regency Centers Corp. | 800 | ||||||
3,691 | Retail Properties of America, Inc., Class – A | 40 | ||||||
3,863 | Simon Property Group, Inc. | 649 | ||||||
3,191 | Store Capital Corp. | 90 | ||||||
1,367 | Sun Communities, Inc. | 139 |
Shares | Security Description | Value (000) | ||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
30,032 | Tanger Factory Outlet Centers, Inc. | $ | 607 | |||||
21,341 | UDR, Inc. | 846 | ||||||
7,571 | Ventas, Inc. | 444 | ||||||
13,942 | VEREIT, Inc. | 100 | ||||||
12,680 | Vornado Realty Trust | 787 | ||||||
20,258 | Welltower, Inc. | 1,405 | ||||||
1,573 | WP Carey, Inc. | 103 | ||||||
|
| |||||||
17,524 | ||||||||
|
| |||||||
Food & Staples Retailing — 2.08% |
| |||||||
3,254 | Casey’s General Stores, Inc. | 417 | ||||||
473 | Costco Wholesale Corp. | 96 | ||||||
905 | Sprouts Farmers Market, Inc. (a) | 21 | ||||||
9,412 | Sysco Corp. | 590 | ||||||
3,726 | The Kroger Co. | 102 | ||||||
1,201 | US Foods Holding Corp. (a) | 38 | ||||||
47,270 | Walgreens Boots Alliance, Inc. | 3,230 | ||||||
66,750 | Wal-Mart Stores, Inc. | 6,219 | ||||||
|
| |||||||
10,713 | ||||||||
|
| |||||||
Food Products — 0.91% |
| |||||||
13,854 | Archer-Daniels-Midland Co. | 568 | ||||||
6,820 | Campbell Soup Co. | 225 | ||||||
5,689 | Flowers Foods, Inc. | 105 | ||||||
4,271 | General Mills, Inc. | 166 | ||||||
1,964 | Hershey Co. | 211 | ||||||
2,450 | Hormel Foods Corp. | 105 | ||||||
9,749 | Kellogg Co. | 556 | ||||||
641 | Lamb Weston Holding, Inc. | 47 | ||||||
6,144 | Mondelez International, Inc., Class – A | 246 | ||||||
3,463 | The Hain Celestial Group, Inc. (a) | 55 | ||||||
39,216 | The Kraft Heinz Co. | 1,687 | ||||||
13,702 | TreeHouse Foods, Inc. (a) | 695 | ||||||
|
| |||||||
4,666 | ||||||||
|
| |||||||
Gas Utilities — 0.02% |
| |||||||
808 | Atmos Energy Corp. | 75 | ||||||
707 | UGI Corp. | 38 | ||||||
|
| |||||||
113 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 2.37% |
| |||||||
48,674 | Abbott Laboratories | 3,521 | ||||||
5,062 | Abiomed, Inc. (a) | 1,645 | ||||||
2,461 | Baxter International, Inc. | 162 | ||||||
3,475 | Danaher Corp. | 358 | ||||||
25 | Hill-Rom Holdings, Inc. | 2 | ||||||
1,653 | IDEXX Laboratories, Inc. (a) | 307 | ||||||
59,308 | Medtronic PLC | 5,395 | ||||||
5,537 | Penumbra, Inc. (a) | 677 | ||||||
597 | Steris PLC | 64 | ||||||
212 | Teleflex, Inc. | 55 | ||||||
59 | The Cooper Companies, Inc. | 15 | ||||||
|
| |||||||
12,201 | ||||||||
|
| |||||||
Health Care Providers & Services — 2.74% |
| |||||||
1,619 | Anthem, Inc. | 425 | ||||||
49,189 | Cardinal Health, Inc. | 2,194 | ||||||
2,984 | Centene Corp. (a) | 344 | ||||||
4,889 | Cigna Corp. | 929 |
See accompanying notes to financial statements.
3
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Providers & Services (continued) |
| |||||||
82,633 | CVS Caremark Corp. | $ | 5,414 | |||||
1,525 | HCA Holdings, Inc. | 190 | ||||||
1,801 | Humana, Inc. | 516 | ||||||
3,153 | MEDNAX, Inc. (a) | 104 | ||||||
9,357 | Patterson Companies, Inc. | 184 | ||||||
10,226 | Premier, Inc., Class – A (a) | 382 | ||||||
12,822 | UnitedHealth Group, Inc. | 3,194 | ||||||
836 | Universal Health Services, Inc., Class – B | 97 | ||||||
591 | WellCare Health Plans, Inc. (a) | 140 | ||||||
|
| |||||||
14,113 | ||||||||
|
| |||||||
Health Care Technology — 0.30% |
| |||||||
17,515 | Veeva Systems, Inc. (a) | 1,564 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure — 2.33% |
| |||||||
21,292 | Carnival Corp., Class – A | 1,050 | ||||||
2,249 | Darden Restaurants, Inc. | 225 | ||||||
1,258 | Domino’s Pizza, Inc. | 312 | ||||||
9,370 | Extended Stay America, Inc. | 145 | ||||||
148 | Hilton Worldwide Holdings, Inc. | 11 | ||||||
14,846 | Las Vegas Sands Corp. | 773 | ||||||
29,228 | McDonald’s Corp. | 5,189 | ||||||
8,932 | Royal Caribbean Cruises Ltd. | 873 | ||||||
1,711 | Six Flags Entertainment Corp. | 95 | ||||||
46,240 | Starbucks Corp. | 2,978 | ||||||
927 | Vail Resorts, Inc. | 195 | ||||||
2,948 | Wyndham Worldwide Corp. | 106 | ||||||
|
| |||||||
11,952 | ||||||||
|
| |||||||
Household Durables — 0.32% |
| |||||||
3,443 | D.R. Horton, Inc. | 119 | ||||||
3,999 | Garmin Ltd. | 253 | ||||||
6,069 | Leggett & Platt, Inc. | 218 | ||||||
7,562 | Lennar Corp., Class – A | 296 | ||||||
83 | Lennar Corp., Class – B | 3 | ||||||
21,921 | Newell Rubbermaid, Inc. | 407 | ||||||
4,132 | PulteGroup, Inc. | 107 | ||||||
2,180 | Whirlpool Corp. | 233 | ||||||
|
| |||||||
1,636 | ||||||||
|
| |||||||
Household Products — 2.13% |
| |||||||
2,171 | Church & Dwight Co., Inc. | 143 | ||||||
18,737 | Kimberly-Clark Corp. | 2,135 | ||||||
1,893 | Spectrum Brands Holdings, Inc. | 80 | ||||||
1,218 | The Clorox Co. | 188 | ||||||
91,670 | The Procter & Gamble Co. | 8,426 | ||||||
|
| |||||||
10,972 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers — 0.04% |
| |||||||
1,358 | NRG Energy, Inc., Class – C | 54 | ||||||
7,130 | The AES Corp. | 103 | ||||||
1,390 | Vistra Energy Corp. (a) | 32 | ||||||
|
| |||||||
189 | ||||||||
|
| |||||||
Industrial Conglomerates — 0.71% |
| |||||||
18,619 | 3M Co. | 3,546 | ||||||
778 | Honeywell International, Inc. | 103 | ||||||
41 | Roper Industries, Inc. | 11 | ||||||
|
| |||||||
3,660 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Insurance — 3.04% |
| |||||||
23,599 | Aflac, Inc. | $ | 1,075 | |||||
41,821 | Allstate Corp. | 3,455 | ||||||
37,987 | American International Group, Inc. | 1,497 | ||||||
3,483 | Arthur J. Gallagher & Co. | 257 | ||||||
1,195 | Assurant, Inc. | 107 | ||||||
2,180 | AXIS Capital Holdings Ltd. | 113 | ||||||
1,344 | Brown & Brown, Inc. | 37 | ||||||
19,960 | Chubb Ltd. | 2,578 | ||||||
4,986 | Cincinnati Financial Corp. | 386 | ||||||
522 | Erie Indemnity Co., Class – A | 70 | ||||||
3,189 | Everest Re Group Ltd. | 694 | ||||||
76,774 | FNF Group | 2,413 | ||||||
48 | Markel Corp. (a) | 50 | ||||||
1,035 | Mercury General Corp. | 54 | ||||||
38,652 | MetLife, Inc. | 1,587 | ||||||
6,178 | Old Republic International Corp. | 127 | ||||||
12,791 | Principal Financial Group, Inc. | 565 | ||||||
728 | Reinsurance Group of America | 102 | ||||||
12,415 | Unum Group | 365 | ||||||
1,443 | W.R. Berkley Corp. | 107 | ||||||
|
| |||||||
15,639 | ||||||||
|
| |||||||
Interactive Media & Services — 3.74% |
| |||||||
6,867 | Alphabet, Inc., Class – A (a) | 7,176 | ||||||
4,559 | Alphabet, Inc., Class – C (a) | 4,721 | ||||||
55,740 | Facebook, Inc., Class – A (a) | 7,307 | ||||||
312 | TripAdvisor, Inc. (a) | 17 | ||||||
|
| |||||||
19,221 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 3.21% |
| |||||||
9,726 | Amazon.com, Inc. (a) | 14,608 | ||||||
24,627 | eBay, Inc. (a) | 691 | ||||||
13,641 | Wayfair, Inc., Class – A (a) | 1,229 | ||||||
|
| |||||||
16,528 | ||||||||
|
| |||||||
IT Services — 4.29% |
| |||||||
2,831 | Accenture PLC, Class – A | 399 | ||||||
2,108 | Akamai Technologies, Inc. (a) | 129 | ||||||
4,072 | Cognizant Technology Solutions Corp. | 258 | ||||||
11,864 | EPAM Systems, Inc. (a) | 1,376 | ||||||
642 | Fidelity National Information Services, Inc. | 66 | ||||||
10,484 | Gartner Group, Inc. (a) | 1,340 | ||||||
24,374 | GoDaddy, Inc., Class – A (a) | 1,599 | ||||||
2,974 | Leidos Holdings, Inc. | 157 | ||||||
26,753 | MasterCard, Inc., Class – A | 5,047 | ||||||
22,424 | Okta, Inc. (a) | 1,431 | ||||||
6,910 | Paychex, Inc. | 450 | ||||||
41,866 | PayPal Holdings, Inc. (a) | 3,521 | ||||||
30,823 | Sabre Corp. | 667 | ||||||
27,170 | Square, Inc., Class – A (a) | 1,524 | ||||||
692 | Teradata Corp. (a) | 27 | ||||||
5,412 | VeriSign, Inc. (a) | 803 | ||||||
23,246 | Visa, Inc., Class – A | 3,067 | ||||||
10,501 | Western Union Co. | 179 | ||||||
43 | WEX, Inc. (a) | 6 | ||||||
|
| |||||||
22,046 | ||||||||
|
|
See accompanying notes to financial statements.
4
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Life Sciences Tools & Services — 1.19% |
| |||||||
4,371 | Agilent Technologies, Inc. | $ | 295 | |||||
1,294 | Bruker Biosciences Corp. | 39 | ||||||
438 | Charles River Laboratories International, Inc. (a) | 50 | ||||||
7,305 | Illumina, Inc. (a) | 2,191 | ||||||
337 | IQVIA Holdings, Inc. (a) | 39 | ||||||
2,796 | Mettler-Toledo International, Inc. (a) | 1,581 | ||||||
485 | PerkinElmer, Inc. | 38 | ||||||
10,132 | PRA Health Sciences, Inc. (a) | 932 | ||||||
881 | Qiagen N.V. (a) | 30 | ||||||
3,428 | Thermo Electron Corp. | 767 | ||||||
722 | Waters Corp. (a) | 136 | ||||||
|
| |||||||
6,098 | ||||||||
|
| |||||||
Machinery — 1.78% |
| |||||||
12,411 | AGCO Corp. | 691 | ||||||
12,196 | Caterpillar, Inc. | 1,550 | ||||||
5,428 | Cummins, Inc. | 725 | ||||||
53 | Donaldson Company, Inc. | 2 | ||||||
4,752 | Dover Corp. | 337 | ||||||
3,214 | Fortive Corp. | 217 | ||||||
28 | IDEX Corp. | 4 | ||||||
7,831 | Ingersoll-Rand PLC | 714 | ||||||
1,442 | ITT, Inc. | 70 | ||||||
30,632 | Oshkosh Corp. | 1,879 | ||||||
987 | Snap-on, Inc. | 143 | ||||||
1,272 | Terex Corp. | 35 | ||||||
6,496 | The Middleby Corp. (a) | 667 | ||||||
2,583 | The Timken Co. | 96 | ||||||
4,811 | Trinity Industries, Inc. | 99 | ||||||
13,477 | WABCO Holdings, Inc. (a) | 1,447 | ||||||
1,182 | Wabtec Corp. | 83 | ||||||
33,989 | Welbilt, Inc. (a) | 378 | ||||||
485 | Xylem, Inc. | 32 | ||||||
|
| |||||||
9,169 | ||||||||
|
| |||||||
Marine — 0.02% |
| |||||||
1,581 | Kirby Corp. (a) | 106 | ||||||
|
| |||||||
Media — 1.24% |
| |||||||
453 | AMC Networks, Inc. (a) | 25 | ||||||
160,478 | Comcast Corp., Class – A | 5,464 | ||||||
2,118 | Dish Network Corp. (a) | 53 | ||||||
4,394 | Omnicom Group, Inc. | 322 | ||||||
411 | Sirius XM Holdings, Inc. ^ | 2 | ||||||
21,377 | The Interpublic Group of Companies, Inc. | 441 | ||||||
2,002 | Tribune Media Co., Class – A | 91 | ||||||
|
| |||||||
6,398 | ||||||||
|
| |||||||
Metals & Mining — 0.37% |
| |||||||
23,716 | Newmont Mining Corp. | 822 | ||||||
17,021 | Nucor Corp. | 881 | ||||||
3,730 | Steel Dynamics, Inc. | 112 | ||||||
5,570 | United States Steel Corp. | 102 | ||||||
|
| |||||||
1,917 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.16% |
| |||||||
7,133 | AGNC Investment Corp. | 125 | ||||||
19,665 | Annaly Capital Management, Inc. | 193 |
Shares | Security Description | Value (000) | ||||||
Mortgage Real Estate Investment Trusts (continued) |
| |||||||
5,771 | Chimera Investment Corp. | $ | 103 | |||||
24,503 | MFA Financial, Inc. | 164 | ||||||
4,912 | Starwood Property Trust, Inc. | 97 | ||||||
10,906 | Two Harbors Investment Corp. | 140 | ||||||
|
| |||||||
822 | ||||||||
|
| |||||||
Multiline Retail — 0.60% |
| |||||||
952 | Dollar General Corp. | 103 | ||||||
4,191 | Dollar Tree, Inc. (a) | 379 | ||||||
6,793 | Kohl’s Corp. | 451 | ||||||
14,519 | Macy’s, Inc. | 432 | ||||||
2,624 | Nordstrom, Inc. | 122 | ||||||
24,525 | Target Corp. | 1,621 | ||||||
|
| |||||||
3,108 | ||||||||
|
| |||||||
Multi-Utilities — 1.22% |
| |||||||
2,674 | Ameren Corp. | 174 | ||||||
1,937 | CMS Energy Corp. | 96 | ||||||
1,350 | Consolidated Edison, Inc. | 103 | ||||||
24,990 | Dominion Resources, Inc. | 1,786 | ||||||
1,043 | DTE Energy Co. | 115 | ||||||
93,689 | NiSource, Inc. | 2,376 | ||||||
5,865 | Public Service Enterprise Group, Inc. | 305 | ||||||
951 | Sempra Energy | 103 | ||||||
467 | Vectren Corp. | 34 | ||||||
17,371 | WEC Energy Group, Inc. | 1,203 | ||||||
|
| |||||||
6,295 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 4.28% |
| |||||||
61,866 | Chevron Corp. | 6,730 | ||||||
5,867 | Concho Resources, Inc. (a) | 603 | ||||||
18,961 | ConocoPhillips | 1,182 | ||||||
999 | Continental Resources, Inc. (a) | 40 | ||||||
2,976 | Diamondback Energy, Inc. | 276 | ||||||
29,642 | EOG Resources, Inc. | 2,585 | ||||||
9,007 | EQT Corp. | 170 | ||||||
7,205 | Equitrans Midstream Corp. (a) | 144 | ||||||
56,147 | Exxon Mobil Corp. | 3,829 | ||||||
16,993 | Hess Corp. | 688 | ||||||
2,849 | HollyFrontier Corp. | 146 | ||||||
70,023 | Kinder Morgan, Inc. | 1,077 | ||||||
9,878 | Marathon Oil Corp. | 142 | ||||||
21,237 | Marathon Petroleum Corp. | 1,253 | ||||||
3,793 | Murphy Oil Corp. | 89 | ||||||
7,696 | Noble Energy, Inc. | 144 | ||||||
6,401 | ONEOK, Inc. | 345 | ||||||
5,358 | Parsley Energy, Inc., Class – A (a) | 86 | ||||||
3,630 | PBF Energy, Inc., Class – A | 119 | ||||||
9,271 | Phillips 66 | 799 | ||||||
2,319 | Pioneer Natural Resources Co. | 305 | ||||||
16,585 | Valero Energy Corp. | 1,243 | ||||||
|
| |||||||
21,995 | ||||||||
|
| |||||||
Personal Products — 0.09% |
| |||||||
28,755 | Coty, Inc., Class – A | 189 | ||||||
1,025 | Herbalife Ltd. (a) | 60 | ||||||
1,700 | The Estee Lauder Companies, Inc., Class – A | 221 | ||||||
|
| |||||||
470 | ||||||||
|
|
See accompanying notes to financial statements.
5
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Pharmaceuticals — 5.79% |
| |||||||
19,272 | Eli Lilly & Co. | $ | 2,230 | |||||
53,305 | Johnson & Johnson | 6,879 | ||||||
110,340 | Merck & Co., Inc. | 8,431 | ||||||
6,377 | Mylan N.V. (a) | 175 | ||||||
235,905 | Pfizer, Inc. | 10,297 | ||||||
113,000 | Teva Pharmaceutical Industries Ltd., ADR (a) | 1,742 | ||||||
|
| |||||||
29,754 | ||||||||
|
| |||||||
Professional Services — 0.65% |
| |||||||
4,444 | CoStar Group, Inc. (a) | 1,499 | ||||||
950 | IHS Markit Ltd. (a) | 46 | ||||||
4,225 | Nielsen Holdings PLC | 99 | ||||||
825 | Robert Half International, Inc. | 47 | ||||||
15,150 | Versik Analytics, Inc., Class – A (a) | 1,652 | ||||||
|
| |||||||
3,343 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.03% |
| |||||||
1,691 | CBRE Group, Inc., Class – A (a) | 67 | ||||||
2,931 | Newmark Group, Inc., Class – A | 24 | ||||||
3,855 | Realogy Holdings Corp. | 57 | ||||||
|
| |||||||
148 | ||||||||
|
| |||||||
Road & Rail — 0.91% |
| |||||||
1,388 | AMERCO, Inc. | 455 | ||||||
809 | CSX Corp. | 50 | ||||||
9,369 | Genesee & Wyoming, Inc., Class – A (a) | 693 | ||||||
5,345 | Norfolk Southern Corp. | 799 | ||||||
975 | Old Dominion Freight Line, Inc. | 120 | ||||||
18,473 | Union Pacific Corp. | 2,555 | ||||||
|
| |||||||
4,672 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 3.06% |
| |||||||
2,102 | Broadcom, Inc. | 534 | ||||||
228,833 | Intel Corp. | 10,739 | ||||||
3,302 | KLA-Tencor Corp. | 295 | ||||||
1,129 | Lam Research Corp. | 154 | ||||||
5,918 | Maxim Integrated Products, Inc. | 301 | ||||||
2,923 | Micron Technology, Inc. (a) | 93 | ||||||
1,654 | NVIDIA Corp. | 221 | ||||||
7,213 | Qualcomm, Inc. | 410 | ||||||
1,268 | Skyworks Solutions, Inc. | 85 | ||||||
23,905 | Texas Instruments, Inc. | 2,259 | ||||||
6,964 | Universal Display Corp. | 652 | ||||||
115 | Xilinx, Inc. | 10 | ||||||
|
| |||||||
15,753 | ||||||||
|
| |||||||
Software — 6.76% |
| |||||||
16,180 | Adobe Systems, Inc. (a) | 3,661 | ||||||
14,588 | Autodesk, Inc. (a) | 1,876 | ||||||
1,388 | Dell Technologies, Inc., Class – V (a) | 111 | ||||||
284 | Guidewire Software, Inc. (a) | 23 | ||||||
681 | LogMeln, Inc. | 56 | ||||||
29,183 | Manhattan Associates, Inc. (a) | 1,236 | ||||||
144,589 | Microsoft Corp. | 14,686 | ||||||
6,281 | Nuance Communications, Inc. (a) | 83 | ||||||
147,393 | Oracle Corp. | 6,655 | ||||||
11,384 | Paycom Software, Inc. (a) | 1,394 | ||||||
15,646 | Proofpoint, Inc. (a) | 1,311 |
Shares | Security Description | Value (000) | ||||||
Software (continued) |
| |||||||
18,193 | RingCentral, Inc., Class – A (a) | $ | 1,500 | |||||
775 | Salesforce.com, Inc. (a) | 106 | ||||||
11,142 | ServiceNow, Inc. (a) | 1,984 | ||||||
668 | Synopsys, Inc. (a) | 56 | ||||||
479 | VMware, Inc., Class – A | 66 | ||||||
|
| |||||||
34,804 | ||||||||
|
| |||||||
Specialty Retail — 1.34% |
| |||||||
1,250 | Advance Auto Parts, Inc. | 197 | ||||||
22 | AutoZone, Inc. (a) | 18 | ||||||
7,995 | Best Buy Co., Inc. | 423 | ||||||
172 | Burlington Stores, Inc. (a) | 28 | ||||||
2,881 | Dick’s Sporting Goods, Inc. | 90 | ||||||
45,768 | Floor & Decor Holdings, Inc., Class – A (a) | 1,185 | ||||||
4,308 | Foot Locker, Inc. | 229 | ||||||
3,990 | Gap, Inc. | 103 | ||||||
4,022 | L Brands, Inc. | 103 | ||||||
88,861 | Michaels Companies, Inc. The (a) | 1,204 | ||||||
1,901 | O’Reilly Automotive, Inc. (a) | 655 | ||||||
14,122 | The Home Depot, Inc. | 2,427 | ||||||
620 | Tiffany & Co. | 50 | ||||||
1,459 | Urban Outfitters, Inc. (a) | 48 | ||||||
3,016 | Williams-Sonoma, Inc. | 152 | ||||||
|
| |||||||
6,912 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 3.80% |
| |||||||
92,478 | Apple, Inc. | 14,588 | ||||||
240,275 | HP, Inc. | 4,916 | ||||||
285 | NetApp, Inc. | 17 | ||||||
|
| |||||||
19,521 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.33% |
| |||||||
2,234 | Michael Kors Holdings Ltd. (a) | 85 | ||||||
741 | PVH Corp. | 69 | ||||||
8,085 | Tapestry, Inc. | 273 | ||||||
38,285 | Under Armour, Inc., Class – C (a) | 619 | ||||||
9,131 | V.F. Corp. | 651 | ||||||
|
| |||||||
1,697 | ||||||||
|
| |||||||
Tobacco — 0.85% |
| |||||||
36,600 | Altria Group, Inc. | 1,808 | ||||||
38,323 | Philip Morris International, Inc. | 2,558 | ||||||
|
| |||||||
4,366 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.24% |
| |||||||
10,024 | Fastenal Co. | 524 | ||||||
4,912 | HD Supply Holdings, Inc. (a) | 184 | ||||||
2,958 | MSC Industrial Direct Co., Inc., Class – A | 228 | ||||||
17 | W.W. Grainger, Inc. | 5 | ||||||
1,955 | Watsco, Inc. | 272 | ||||||
|
| |||||||
1,213 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.06% |
| |||||||
8,961 | Macquarie Infrastructure Corp. | 328 | ||||||
|
| |||||||
Water Utilities — 0.02% |
| |||||||
1,178 | American Water Works Co., Inc. | 107 | ||||||
|
| |||||||
Wireless Telecommunication Services — 0.50% |
| |||||||
8,547 | Sprint Nextel Corp. (a) | 50 | ||||||
3,124 | Telephone & Data Systems, Inc. | 102 | ||||||
37,795 | T-Mobile USA, Inc. (a) | 2,404 |
See accompanying notes to financial statements.
6
Table of Contents
HC CAPITAL TRUST
The Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Wireless Telecommunication Services (continued) |
| |||||||
200 | U.S. Cellular Corp. (a) | $ | 10 | |||||
|
| |||||||
2,566 | ||||||||
|
| |||||||
Total Common Stocks | 502,684 | |||||||
|
| |||||||
Investment Companies — 1.94% |
| |||||||
540,839 | Dreyfus Treasury Prime Cash Management Fund, Institutional Shares, 2.20% (b) | 541 | ||||||
478 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (b) | — | ||||||
9,424,807 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (b) | 9,425 | ||||||
|
| |||||||
Total Investment Companies | 9,966 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.00% |
| |||||||
$ | 1 | Jefferies LLC, 3.10%, 1/2/19 | 1 | |||||
|
| |||||||
Total Repurchase Agreement | 1 | |||||||
|
| |||||||
Total Investments | 512,651 | |||||||
Other assets in excess of | 1,590 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 514,241 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $1 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Representsnon-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
As of December 31, 2018, 100% of the Portfolio’s net assets were managed by Parametric Portfolio Associates, LLC.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
E-Mini S&P 500 Future | 47 | 3/15/19 | $ | 5,887 | $ | 259 | ||||||||
E-Mini S&P Midcap 400 Future | 13 | 3/15/19 | 2,161 | 59 | ||||||||||
|
|
|
| |||||||||||
$ | 8,048 | $ | 318 | |||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | 318 | |||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 318 | |||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
7
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 87.73% |
| |||||||
Aerospace & Defense — 1.69% |
| |||||||
1,040 | AAR Corp. | $ | 39 | |||||
18,489 | Arconic, Inc. | 312 | ||||||
2,455 | BWX Technologies, Inc. | 94 | ||||||
2,308 | Curtiss-Wright Corp. | 236 | ||||||
716 | Esterline Technologies Corp. (a) | 87 | ||||||
9,528 | General Dynamics Corp. | 1,498 | ||||||
2,065 | Harris Corp. | 278 | ||||||
957 | HEICO Corp. | 74 | ||||||
744 | HEICO Corp., Class – A | 47 | ||||||
4,174 | Hexcel Corp. | 239 | ||||||
1,138 | Huntington Ingalls Industries, Inc. | 217 | ||||||
3,468 | L3 Technologies, Inc. | 602 | ||||||
5,510 | Lockheed Martin Corp. | 1,443 | ||||||
809 | Moog, Inc., Class – A | 63 | ||||||
4,331 | Northrop Grumman Corp. | 1,061 | ||||||
4,649 | Raytheon Co. | 713 | ||||||
2,801 | Spirit Aerosystems Holdings, Inc., Class – A | 202 | ||||||
2,059 | Teledyne Technologies, Inc. (a) | 426 | ||||||
9,733 | Textron, Inc. | 448 | ||||||
10,688 | The Boeing Co. | 3,446 | ||||||
980 | TransDigm Group, Inc. (a) | 333 | ||||||
2,055 | Triumph Group, Inc. | 24 | ||||||
35,518 | United Technologies Corp. | 3,781 | ||||||
|
| |||||||
15,663 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.28% |
| |||||||
737 | Atlas Air Worldwide Holdings, Inc. (a) | 31 | ||||||
4,806 | C.H. Robinson Worldwide, Inc. | 404 | ||||||
5,885 | Expeditors International of Washington, Inc. | 401 | ||||||
2,403 | FedEx Corp. | 388 | ||||||
1,229 | Hub Group, Inc., Class – A (a) | 46 | ||||||
12,479 | United Parcel Service, Inc., Class – B | 1,216 | ||||||
1,213 | XPO Logistics, Inc. (a) | 69 | ||||||
|
| |||||||
2,555 | ||||||||
|
| |||||||
Airlines — 0.45% |
| |||||||
5,285 | Alaska Air Group, Inc. | 322 | ||||||
243 | Allegiant Travel Co. | 24 | ||||||
24,448 | American Airlines Group, Inc. | 785 | ||||||
1,378 | Copa Holdings SA, Class – A | 108 | ||||||
23,777 | Delta Air Lines, Inc. | 1,187 | ||||||
953 | Hawaiian Holdings, Inc. | 25 | ||||||
13,635 | JetBlue Airways Corp. (a) | 219 | ||||||
1,270 | SkyWest, Inc. | 56 | ||||||
10,683 | Southwest Airlines Co. | 497 | ||||||
455 | Spirit Airlines, Inc. (a) | 26 | ||||||
11,027 | United Continental Holdings, Inc. (a) | 923 | ||||||
|
| |||||||
4,172 | ||||||||
|
| |||||||
Auto Components — 0.20% |
| |||||||
6,800 | Adient PLC | 102 | ||||||
3,644 | Aptiv PLC | 224 | ||||||
9,256 | BorgWarner, Inc. | 321 | ||||||
4,626 | Cooper Tire & Rubber Co. | 150 | ||||||
427 | Cooper-Standard Holding, Inc. (a) | 27 | ||||||
4,519 | Dana Holding Corp. | 62 | ||||||
726 | Dorman Products, Inc. (a) | 65 |
Shares | Security Description | Value (000) | ||||||
Auto Components (continued) |
| |||||||
1,145 | Garrett Motion, Inc. (a) | $ | 14 | |||||
10,865 | Gentex Corp. | 220 | ||||||
11,582 | Goodyear Tire & Rubber Co. | 236 | ||||||
3,157 | Lear Corp. | 387 | ||||||
1,529 | Tenneco, Inc. | 42 | ||||||
1,311 | Visteon Corp. (a) | 79 | ||||||
|
| |||||||
1,929 | ||||||||
|
| |||||||
Automobiles — 0.60% |
| |||||||
247,756 | Ford Motor Co. | 1,895 | ||||||
84,282 | General Motors Co. | 2,819 | ||||||
9,530 | Harley-Davidson, Inc. | 325 | ||||||
1,315 | Tesla Motors, Inc. (a) | 438 | ||||||
1,300 | Thor Industries, Inc. | 68 | ||||||
|
| |||||||
5,545 | ||||||||
|
| |||||||
Banks — 6.09% |
| |||||||
7,259 | Associated Banc-Corp. | 144 | ||||||
401,078 | Bank of America Corp. | 9,882 | ||||||
1,792 | Bank of Hawaii Corp. | 121 | ||||||
5,096 | Bank OZK | 116 | ||||||
4,465 | BankUnited, Inc. | 134 | ||||||
33,928 | BB&T Corp. | 1,470 | ||||||
1,197 | BOK Financial Corp. | 88 | ||||||
6,554 | CIT Group, Inc. | 251 | ||||||
107,100 | Citigroup, Inc. | 5,575 | ||||||
20,725 | Citizens Financial Group, Inc. | 616 | ||||||
7,075 | Comerica, Inc. | 486 | ||||||
4,969 | Commerce Bancshares, Inc. | 280 | ||||||
2,770 | Cullen/Frost Bankers, Inc. | 244 | ||||||
5,825 | East West Bancorp, Inc. | 254 | ||||||
29,241 | Fifth Third Bancorp | 688 | ||||||
321 | First Citizens BancShares, Inc., Class – A | 121 | ||||||
5,044 | First Hawaiian, Inc. | 114 | ||||||
14,787 | First Horizon National Corp. | 195 | ||||||
8,083 | First Republic Bank | 702 | ||||||
13,847 | FNB Corp. | 136 | ||||||
638 | Glacier BanCorp, Inc. | 25 | ||||||
46,915 | Huntington Bancshares, Inc. | 559 | ||||||
145,027 | JPMorgan Chase & Co. | 14,157 | ||||||
45,342 | KeyCorp | 670 | ||||||
6,285 | M&T Bank Corp. | 900 | ||||||
5,357 | PacWest Bancorp | 178 | ||||||
16,484 | People’s United Financial, Inc. | 238 | ||||||
2,172 | Pinnacle Financial Partners, Inc. | 100 | ||||||
20,362 | PNC Financial Services Group, Inc. | 2,381 | ||||||
4,319 | Popular, Inc. | 204 | ||||||
2,853 | Prosperity Bancshares, Inc. | 178 | ||||||
47,963 | Regions Financial Corp. | 642 | ||||||
1,206 | Signature Bank | 124 | ||||||
10,240 | Sterling Bancorp/DE | 169 | ||||||
19,929 | SunTrust Banks, Inc. | 1,005 | ||||||
924 | SVB Financial Group (a) | 175 | ||||||
4,800 | Synovus Financial Corp. | 154 | ||||||
9,058 | TCF Financial Corp. | 177 | ||||||
1,029 | Texas Capital Bancshares, Inc. (a) | 53 | ||||||
66,663 | U.S. Bancorp | 3,046 |
See accompanying notes to financial statements.
8
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Banks (continued) |
| |||||||
10,098 | Umpqua Holdings Corp. | $ | 161 | |||||
616 | United Bankshares, Inc. | 19 | ||||||
4,486 | Webster Financial Corp. | 221 | ||||||
186,067 | Wells Fargo & Co. | 8,573 | ||||||
2,269 | Western Alliance Bancorp (a) | 90 | ||||||
2,565 | Wintrust Financial Corp. | 171 | ||||||
8,300 | Zions Bancorp | 338 | ||||||
|
| |||||||
56,325 | ||||||||
|
| |||||||
Beverages — 1.29% |
| |||||||
482 | Brown-Forman Corp., Class – A | 23 | ||||||
6,547 | Brown-Forman Corp., Class – B | 312 | ||||||
1,965 | Constellation Brands, Inc., Class – A | 316 | ||||||
5,414 | Keurig Dr Pepper, Inc. | 139 | ||||||
7,422 | Molson Coors Brewing Co., Class – B | 417 | ||||||
4,758 | Monster Beverage Corp. (a) | 234 | ||||||
37,207 | PepsiCo, Inc. | 4,111 | ||||||
311 | The Boston Beer Co., Inc., Class – A (a) | 75 | ||||||
133,963 | The Coca-Cola Co. | 6,342 | ||||||
|
| |||||||
11,969 | ||||||||
|
| |||||||
Biotechnology — 1.07% |
| |||||||
21,110 | AbbVie, Inc. | 1,946 | ||||||
633 | Agios Pharmaceuticals, Inc. (a) | 29 | ||||||
3,304 | Alexion Pharmaceuticals, Inc. (a) | 322 | ||||||
1,508 | Alkermes PLC (a) | 45 | ||||||
1,213 | Alnylam Pharmaceuticals, Inc. (a) | 88 | ||||||
10,842 | Amgen, Inc. | 2,111 | ||||||
2,835 | Biogen Idec, Inc. (a) | 853 | ||||||
1,712 | BioMarin Pharmaceutical, Inc. (a) | 146 | ||||||
1,007 | Bluebird Bio, Inc. (a) | 100 | ||||||
6,813 | Celgene Corp. (a) | 437 | ||||||
1,160 | Exact Sciences Corp. (a) | 73 | ||||||
2,875 | Exelixis, Inc. (a) | 57 | ||||||
35,625 | Gilead Sciences, Inc. | 2,228 | ||||||
1,701 | Incyte Corp. (a) | 108 | ||||||
1,210 | Ionis Pharmaceuticals, Inc. (a) | 65 | ||||||
3,696 | Myriad Genetics, Inc. (a) | 107 | ||||||
864 | Neurocrine Biosciences, Inc. (a) | 62 | ||||||
773 | Regeneron Pharmaceuticals, Inc. (a) | 289 | ||||||
446 | Sage Therapeutics, Inc. (a) | 43 | ||||||
643 | Sarepta Therapeutics, Inc. (a) | 70 | ||||||
1,039 | Seattle Genetics, Inc. (a) | 59 | ||||||
363 | Tesaro, Inc. (a) | 27 | ||||||
2,603 | United Therapeutics Corp. (a) | 283 | ||||||
2,476 | Vertex Pharmaceuticals, Inc. (a) | 410 | ||||||
|
| |||||||
9,958 | ||||||||
|
| |||||||
Building Products — 0.29% |
| |||||||
2,474 | A.O. Smith Corp. | 106 | ||||||
1,424 | Allegion PLC | 114 | ||||||
1,498 | Armstrong World Industries, Inc. | 87 | ||||||
4,671 | Fortune Brands Home & Security, Inc. | 177 | ||||||
40,210 | Johnson Controls International PLC | 1,191 | ||||||
1,268 | Lennox International, Inc. | 278 | ||||||
8,488 | Masco Corp. | 248 |
Shares | Security Description | Value (000) | ||||||
Building Products (continued) |
| |||||||
541 | Masonite International Corp. (a) | $ | 24 | |||||
4,705 | Owens Corning, Inc. | 207 | ||||||
2,722 | Resideo Technologies, Inc. (a) | 56 | ||||||
1,103 | Universal Forest Products, Inc. | 29 | ||||||
4,116 | USG Corp. | 176 | ||||||
|
| |||||||
2,693 | ||||||||
|
| |||||||
Capital Markets — 2.37% |
| |||||||
2,745 | Affiliated Managers Group, Inc. | 267 | ||||||
5,329 | Ameriprise Financial, Inc. | 556 | ||||||
40,152 | Bank of New York Mellon Corp. | 1,890 | ||||||
11,121 | BGC Partners, Inc., Class – A | 57 | ||||||
5,347 | BlackRock, Inc., Class – A | 2,100 | ||||||
2,507 | CBOE Holdings, Inc. | 245 | ||||||
17,523 | CME Group, Inc. | 3,297 | ||||||
11,052 | E*Trade Financial Corp. | 485 | ||||||
1,136 | Eaton Vance Corp. | 40 | ||||||
396 | Evercore Partners, Inc., Class – A | 28 | ||||||
874 | FactSet Research Systems, Inc. | 175 | ||||||
1,745 | Federated Investors, Inc., Class – B | 46 | ||||||
17,380 | Franklin Resources, Inc. | 515 | ||||||
15,352 | Goldman Sachs Group, Inc. | 2,566 | ||||||
1,200 | Interactive Brokers Group, Inc., Class – A | 66 | ||||||
19,328 | IntercontinentalExchange Group, Inc. | 1,456 | ||||||
17,167 | Invesco Ltd. | 288 | ||||||
1,527 | Lazard Ltd., Class – A | 56 | ||||||
6,094 | Legg Mason, Inc. | 155 | ||||||
3,817 | LPL Financial Holdings, Inc. | 233 | ||||||
355 | MarketAxess Holdings, Inc. | 75 | ||||||
2,057 | Moody’s Corp. | 288 | ||||||
53,514 | Morgan Stanley | 2,123 | ||||||
561 | Morningstar, Inc. | 62 | ||||||
2,146 | MSCI, Inc. Common | 316 | ||||||
7,207 | Northern Trust Corp. | 602 | ||||||
4,352 | Raymond James Financial, Inc. | 324 | ||||||
4,431 | S&P Global, Inc. | 753 | ||||||
2,998 | SEI Investments Co. | 139 | ||||||
15,734 | State Street Corp. | 992 | ||||||
4,722 | T. Rowe Price Group, Inc. | 436 | ||||||
4,023 | TD Ameritrade Holding Corp. | 197 | ||||||
11,663 | The Charles Schwab Corp. | 484 | ||||||
6,217 | The Nasdaq OMX Group, Inc. | 507 | ||||||
470 | Virtu Financial, Inc., Class – A | 12 | ||||||
6,349 | Waddell & Reed Financial, Inc., Class – A | 115 | ||||||
|
| |||||||
21,946 | ||||||||
|
| |||||||
Chemicals — 2.08% |
| |||||||
10,565 | Air Products & Chemicals, Inc. | 1,691 | ||||||
4,634 | Albemarle Corp. | 357 | ||||||
3,059 | Ashland Global Holdings, Inc. | 217 | ||||||
7,297 | Axalta Coating Systems Ltd. (a) | 171 | ||||||
2,765 | Cabot Corp. | 119 | ||||||
3,517 | Celanese Corp., Series A | 316 | ||||||
15,455 | CF Industries Holdings, Inc. | 672 | ||||||
100,585 | DowDuPont, Inc. | 5,380 | ||||||
6,110 | Eastman Chemical Co. | 447 | ||||||
9,596 | Ecolab, Inc. | 1,414 |
See accompanying notes to financial statements.
9
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Chemicals (continued) |
| |||||||
3,893 | FMC Corp. | $ | 288 | |||||
9,090 | Huntsman Corp. | 175 | ||||||
768 | Innophos Holdings, Inc. | 19 | ||||||
410 | Innospec, Inc. | 25 | ||||||
3,620 | International Flavors & Fragrances, Inc. | 486 | ||||||
13,054 | Linde PLC | 2,038 | ||||||
21,287 | LyondellBasell Industries N.V., Class – A | 1,770 | ||||||
328 | NewMarket Corp. | 135 | ||||||
7,155 | Olin Corp. | 144 | ||||||
5,796 | Platform Specialty Products Corp. (a) | 60 | ||||||
1,549 | PolyOne Corp. | 44 | ||||||
11,500 | PPG Industries, Inc. | 1,176 | ||||||
6,860 | RPM International, Inc. | 403 | ||||||
779 | Sensient Technologies Corp. | 44 | ||||||
1,748 | The Chemours Co. | 49 | ||||||
30,243 | The Mosaic Co. | 883 | ||||||
1,647 | The ScottsMiracle-Gro Co. | 101 | ||||||
808 | The Sherwin-Williams Co. | 318 | ||||||
584 | Trinseo SA | 27 | ||||||
8,369 | Valvoline, Inc. | 162 | ||||||
1,652 | W.R. Grace & Co. | 107 | ||||||
511 | Westlake Chemical Corp. | 34 | ||||||
|
| |||||||
19,272 | ||||||||
|
| |||||||
Commercial Services & Supplies — 0.42% |
| |||||||
2,909 | ABM Industries, Inc. | 93 | ||||||
3,633 | ADT, Inc. | 22 | ||||||
541 | Brady Corp., Class – A | 24 | ||||||
2,265 | Cintas Corp. | 380 | ||||||
2,504 | Clean Harbors, Inc. (a) | 124 | ||||||
7,482 | Copart, Inc. (a) | 357 | ||||||
3,020 | Covanta Holding Corp. | 41 | ||||||
742 | Deluxe Corp. | 29 | ||||||
1,507 | Healthcare Services Group, Inc. | 61 | ||||||
1,326 | Herman Miller, Inc. | 40 | ||||||
810 | HNI Corp. | 29 | ||||||
4,233 | KAR Auction Services, Inc. | 202 | ||||||
291 | MSA Safety, Inc. | 27 | ||||||
13,523 | Pitney Bowes, Inc. | 80 | ||||||
1,442 | Quad Graphics, Inc. | 18 | ||||||
11,704 | Republic Services, Inc., Class – A | 844 | ||||||
3,684 | Rollins, Inc. | 133 | ||||||
4,524 | Steelcase, Inc., Class – A | 67 | ||||||
4,640 | Stericycle, Inc. (a) | 170 | ||||||
349 | Tetra Tech, Inc. | 18 | ||||||
1,763 | Waste Connections, Inc. | 131 | ||||||
11,021 | Waste Management, Inc. | 980 | ||||||
|
| |||||||
3,870 | ||||||||
|
| |||||||
Communications Equipment — 1.37% |
| |||||||
552 | Arista Networks, Inc. (a) | 116 | ||||||
8,391 | Arris International PLC (a) | 257 | ||||||
842 | Ciena Corp. (a) | 29 | ||||||
221,344 | Cisco Systems, Inc. | 9,590 | ||||||
7,924 | Commscope Holding, Inc. (a) | 130 | ||||||
2,164 | EchoStar Corp., Class – A (a) | 79 |
Shares | Security Description | Value (000) | ||||||
Communications Equipment (continued) |
| |||||||
1,837 | F5 Networks, Inc. (a) | $ | 298 | |||||
20,150 | Juniper Networks, Inc. | 542 | ||||||
11,772 | Motorola Solutions, Inc. | 1,354 | ||||||
550 | NETGEAR, Inc. (a) | 29 | ||||||
869 | Palo Alto Networks, Inc. (a) | 164 | ||||||
1,134 | Plantronics, Inc. | 38 | ||||||
303 | Ubiquiti Networks, Inc. | 30 | ||||||
|
| |||||||
12,656 | ||||||||
|
| |||||||
Construction & Engineering — 0.17% |
| |||||||
7,583 | AECOM Technology Corp. (a) | 201 | ||||||
2,182 | Arcosa, Inc. (a) | 60 | ||||||
425 | Comfort Systems USA, Inc. | 19 | ||||||
10,523 | Fluor Corp. | 339 | ||||||
8,458 | Jacobs Engineering Group, Inc. | 495 | ||||||
6,616 | KBR, Inc. | 100 | ||||||
7,376 | Quanta Services, Inc. | 222 | ||||||
1,757 | Tutor Perini Corp. (a) | 28 | ||||||
949 | Valmont Industries, Inc. | 105 | ||||||
|
| |||||||
1,569 | ||||||||
|
| |||||||
Construction Materials — 0.04% |
| |||||||
633 | Eagle Materials, Inc., Class – A | 39 | ||||||
786 | Martin Marietta Materials, Inc. | 135 | ||||||
1,544 | Vulcan Materials Co. | 152 | ||||||
|
| |||||||
326 | ||||||||
|
| |||||||
Consumer Finance — 0.64% |
| |||||||
28,998 | Ally Financial, Inc. | 657 | ||||||
17,999 | American Express Co. | 1,716 | ||||||
21,225 | Capital One Financial Corp. | 1,604 | ||||||
222 | Credit Acceptance Corp. (a) | 85 | ||||||
10,973 | Discover Financial Services | 647 | ||||||
821 | Firstcash, Inc. | 59 | ||||||
20,490 | Navient Corp. | 181 | ||||||
3,173 | OneMain Holdings, Inc. (a) | 77 | ||||||
1,073 | PRA Group, Inc. (a) | 26 | ||||||
7,279 | Santander Consumer USA Holdings, Inc. | 128 | ||||||
21,764 | SLM Corp. (a) | 181 | ||||||
23,509 | Synchrony Financial | 552 | ||||||
276 | World Acceptance Corp. (a) | 28 | ||||||
|
| |||||||
5,941 | ||||||||
|
| |||||||
Containers & Packaging — 0.46% |
| |||||||
4,242 | AptarGroup, Inc. | 399 | ||||||
807 | Ardagh Group SA | 9 | ||||||
1,682 | Avery Dennison Corp. | 151 | ||||||
17,380 | Ball Corp. | 798 | ||||||
7,434 | Bemis Company, Inc. | 341 | ||||||
3,303 | Berry Plastics Group, Inc. (a) | 157 | ||||||
2,898 | Crown Holdings, Inc. (a) | 120 | ||||||
15,659 | Graphic Packaging Holding Co. | 167 | ||||||
16,497 | International Paper Co. | 666 | ||||||
9,049 | Owens-Illinois, Inc. (a) | 156 | ||||||
2,204 | Packaging Corporation of America | 184 | ||||||
6,429 | Sealed Air Corp. | 224 | ||||||
4,642 | Silgan Holdings | 110 | ||||||
7,369 | Sonoco Products Co. | 392 |
See accompanying notes to financial statements.
10
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Containers & Packaging (continued) |
| |||||||
10,902 | WestRock Co. | $ | 412 | |||||
|
| |||||||
4,286 | ||||||||
|
| |||||||
Distributors — 0.14% |
| |||||||
1,773 | Core-Mark Holding Co., Inc. | 41 | ||||||
8,115 | Genuine Parts Co. | 780 | ||||||
12,366 | LKQ Corp. (a) | 293 | ||||||
1,099 | Pool Corp. | 163 | ||||||
|
| |||||||
1,277 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.15% |
| |||||||
2,257 | Adtalem Global Education, Inc. (a) | 107 | ||||||
1,548 | Bright Horizons Family Solutions, Inc. (a) | 173 | ||||||
1,046 | Frontdoor, Inc. (a) | 28 | ||||||
294 | Graham Holdings Co. | 188 | ||||||
742 | Grand Canyon Education, Inc. (a) | 71 | ||||||
13,806 | H&R Block, Inc. | 350 | ||||||
3,068 | Houghton Mifflin Harcourt Co. (a) | 27 | ||||||
1,181 | Regis Corp. (a) | 20 | ||||||
6,824 | Service Corporation International | 275 | ||||||
3,304 | ServiceMaster Global Holdings, Inc. (a) | 121 | ||||||
728 | Sotheby’s (a) | 29 | ||||||
979 | Weight Watchers International, Inc. (a) | 38 | ||||||
|
| |||||||
1,427 | ||||||||
|
| |||||||
Diversified Financial Services — 2.00% |
| |||||||
8,936 | AXA Equitable Holdings, Inc. | 149 | ||||||
86,421 | Berkshire Hathaway, Inc., Class – B (a) | 17,645 | ||||||
12,998 | Jefferies Financial Group, Inc. | 226 | ||||||
11,220 | Voya Financial, Inc. | 450 | ||||||
|
| |||||||
18,470 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 2.76% |
| |||||||
367,305 | AT&T, Inc. | 10,483 | ||||||
76,406 | CenturyLink, Inc. | 1,158 | ||||||
246,431 | Verizon Communications, Inc. | 13,853 | ||||||
1,952 | Zayo Group Holdings, Inc. (a) | 45 | ||||||
|
| |||||||
25,539 | ||||||||
|
| |||||||
Electric Utilities — 2.47% |
| |||||||
341 | ALLETE, Inc. | 26 | ||||||
11,465 | Alliant Energy Corp. | 484 | ||||||
23,927 | American Electric Power, Inc. | 1,788 | ||||||
2,450 | Avangrid, Inc. | 123 | ||||||
34,826 | Duke Energy Corp. | 3,006 | ||||||
14,028 | Edison International | 796 | ||||||
10,843 | Entergy Corp. | 933 | ||||||
11,656 | Evergy, Inc. | 662 | ||||||
15,392 | Eversource Energy | 1,001 | ||||||
60,364 | Exelon Corp. | 2,722 | ||||||
26,788 | FirstEnergy Corp. | 1,006 | ||||||
6,814 | Hawaiian Electric Industries, Inc. | 250 | ||||||
292 | IDACORP, Inc. | 27 | ||||||
23,348 | NextEra Energy, Inc. | 4,059 | ||||||
9,700 | OGE Energy Corp. | 380 | ||||||
23,078 | PG&E Corp. (a) | 548 | ||||||
5,287 | Pinnacle West Capital Corp. | 450 | ||||||
590 | PNM Resources, Inc. | 24 |
Shares | Security Description | Value (000) | ||||||
Electric Utilities (continued) |
| |||||||
567 | Portland General Electric Co. | $ | 26 | |||||
38,928 | PPL Corp. | 1,103 | ||||||
50,178 | The Southern Co. | 2,204 | ||||||
24,733 | Xcel Energy, Inc. | 1,219 | ||||||
|
| |||||||
22,837 | ||||||||
|
| |||||||
Electrical Equipment — 0.47% |
| |||||||
1,674 | Acuity Brands, Inc. | 192 | ||||||
8,342 | AMETEK, Inc. | 565 | ||||||
19,001 | Eaton Corp. PLC | 1,305 | ||||||
19,364 | Emerson Electric Co. | 1,157 | ||||||
254 | EnerSys | 20 | ||||||
1,693 | Generac Holdings, Inc. (a) | 84 | ||||||
2,730 | GrafTech International Ltd. | 31 | ||||||
1,386 | Hubbell, Inc. | 138 | ||||||
6,925 | nVent Electric PLC | 156 | ||||||
1,874 | Regal-Beloit Corp. | 131 | ||||||
1,891 | Rockwell Automation, Inc. | 285 | ||||||
4,197 | Sensata Technologies Holding PLC (a) | 188 | ||||||
|
| |||||||
4,252 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 0.63% |
| |||||||
2,863 | Amphenol Corp., Class – A | 232 | ||||||
744 | Anixter International, Inc. (a) | 40 | ||||||
5,647 | Arrow Electronics, Inc. (a) | 389 | ||||||
9,808 | Avnet, Inc. | 354 | ||||||
2,137 | Benchmark Electronics, Inc. | 45 | ||||||
3,820 | CDW Corporation of Delaware | 310 | ||||||
1,603 | Cognex Corp. | 62 | ||||||
455 | Coherent, Inc. (a) | 48 | ||||||
60,131 | Corning, Inc. | 1,816 | ||||||
3,730 | Dolby Laboratories, Inc., Class – A | 231 | ||||||
7,181 | FLIR Systems, Inc. | 313 | ||||||
1,091 | Insight Enterprises, Inc. (a) | 44 | ||||||
349 | IPG Photonics Corp. (a) | 40 | ||||||
10,630 | Jabil Circuit, Inc. | 264 | ||||||
9,549 | Keysight Technologies, Inc. (a) | 592 | ||||||
363 | Littelfuse, Inc. | 62 | ||||||
2,748 | National Instruments Corp. | 125 | ||||||
853 | Plexus Corp. (a) | 44 | ||||||
1,942 | Sanmina Corp. (a) | 47 | ||||||
718 | ScanSource, Inc. (a) | 25 | ||||||
344 | SYNNEX Corp. | 28 | ||||||
1,466 | Tech Data Corp. (a) | 120 | ||||||
11,143 | Trimble Navigation Ltd. (a) | 367 | ||||||
4,780 | Vishay Intertechnology, Inc. | 86 | ||||||
893 | Zebra Technologies Corp., Class – A (a) | 142 | ||||||
|
| |||||||
5,826 | ||||||||
|
| |||||||
Energy Equipment & Services — 0.54% |
| |||||||
3,155 | Apergy Corp. (a) | 85 | ||||||
3,457 | Archrock, Inc. Com | 26 | ||||||
22,398 | Baker Hughes, Inc. | 482 | ||||||
2,945 | Diamond Offshore Drilling, Inc. (a) | 28 | ||||||
2,242 | Dril-Quip, Inc. (a) | 67 | ||||||
8,474 | Halliburton Co. | 225 | ||||||
7,699 | Helix Energy Solutions Group, Inc. (a) | 42 |
See accompanying notes to financial statements.
11
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Energy Equipment & Services (continued) |
| |||||||
5,732 | Helmerich & Payne, Inc. | $ | 275 | |||||
2,828 | McDermott International, Inc. (a) | 18 | ||||||
24,764 | Nabors Industries Ltd. | 50 | ||||||
29,330 | National Oilwell Varco, Inc. | 754 | ||||||
5,820 | Oceaneering International, Inc. (a) | 70 | ||||||
2,747 | Oil States International, Inc. (a) | 39 | ||||||
12,074 | Patterson-UTI Energy, Inc. | 125 | ||||||
10,049 | Rowan Cos. PLC, Class – A (a) | 84 | ||||||
1,631 | RPC, Inc. | 16 | ||||||
60,843 | Schlumberger Ltd. | 2,196 | ||||||
499 | SEACOR Holdings, Inc. (a) | 18 | ||||||
8,265 | Superior Energy Services, Inc. (a) | 28 | ||||||
31,168 | Transocean Ltd. (a) | 216 | ||||||
1,605 | Unit Corp. (a) | 23 | ||||||
33,811 | Weatherford International PLC (a) | 19 | ||||||
|
| |||||||
4,886 | ||||||||
|
| |||||||
Entertainment — 1.51% |
| |||||||
7,310 | Activision Blizzard, Inc. | 340 | ||||||
7,102 | Cinemark Holdings, Inc. | 254 | ||||||
3,156 | Electronic Arts, Inc. (a) | 249 | ||||||
949 | Liberty Media Group, Class – A (a) | 28 | ||||||
8,470 | Liberty Media Group, Class – C (a) | 260 | ||||||
2,372 | Lions Gate Entertainment Corp., Class – A | 38 | ||||||
4,754 | Lions Gate Entertainment Corp., Class – B | 71 | ||||||
2,200 | Live Nation Entertainment, Inc. (a) | 108 | ||||||
6,079 | Netflix, Inc. (a) | 1,627 | ||||||
2,685 | Take-Two Interactive Software, Inc. (a) | 276 | ||||||
1,043 | The Madison Square Garden Co., Class – A (a) | 279 | ||||||
42,484 | The Walt Disney Co. | 4,659 | ||||||
76,137 | Twenty-First Century Fox, Inc. | 3,665 | ||||||
21,301 | Twenty-First Century Fox, Inc., Class – B | 1,018 | ||||||
389 | Viacom, Inc., Class – A | 11 | ||||||
36,944 | Viacom, Inc., Class – B | 949 | ||||||
32,507 | Zynga, Inc. (a) | 128 | ||||||
|
| |||||||
13,960 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 4.00% |
| |||||||
1,723 | Acadia Realty Trust | 41 | ||||||
5,176 | Alexandria Real Estate Equities, Inc. | 596 | ||||||
8,898 | American Campus Communities, Inc. | 368 | ||||||
13,823 | American Homes 4 Rent, Class – A | 274 | ||||||
7,245 | American Tower Corp. | 1,146 | ||||||
9,614 | Apartment Investment & Management Co., | 422 | ||||||
14,987 | Apple Hospitality REIT, Inc. | 214 | ||||||
7,425 | AvalonBay Communities, Inc. | 1,292 | ||||||
7,739 | Boston Properties, Inc. | 871 | ||||||
11,161 | Brandywine Realty Trust | 144 | ||||||
20,135 | Brixmor Property Group, Inc. | 296 | ||||||
6,497 | Brookfield Property REIT, Inc., Class – A | 105 | ||||||
4,972 | Camden Property Trust | 438 | ||||||
13,902 | CBL & Associates Properties, Inc. | 27 | ||||||
20,080 | Colony Capital, Inc. | 94 | ||||||
9,349 | Columbia Property Trust, Inc. | 181 | ||||||
3,808 | CoreCivic, Inc. | 68 |
Shares | Security Description | Value (000) | ||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
360 | Coresite Realty Corp. | $ | 31 | |||||
6,359 | Corporate Office Properties Trust | 134 | ||||||
10,710 | Crown Castle International Corp. | 1,163 | ||||||
11,459 | CubeSmart | 329 | ||||||
5,307 | CyrusOne, Inc. | 281 | ||||||
9,701 | Digital Realty Trust, Inc. | 1,034 | ||||||
8,585 | Douglas Emmett, Inc. | 293 | ||||||
21,617 | Duke Realty Corp. | 560 | ||||||
5,885 | Empire State Realty Trust, Inc., Class – A | 84 | ||||||
4,516 | EPR Properties | 289 | ||||||
918 | Equinix, Inc. | 324 | ||||||
8,500 | Equity Commonwealth | 255 | ||||||
1,802 | Equity Lifestyle Properties, Inc. | 175 | ||||||
22,251 | Equity Residential | 1,468 | ||||||
3,538 | Essex Property Trust, Inc. | 868 | ||||||
3,580 | Extra Space Storage, Inc. | 324 | ||||||
4,382 | Federal Realty Investment Trust | 517 | ||||||
860 | First Industrial Realty Trust, Inc. | 25 | ||||||
8,506 | Gaming & Leisure Properties, Inc. | 275 | ||||||
27,631 | HCP, Inc. | 772 | ||||||
1,513 | Healthcare Realty Trust, Inc. | 43 | ||||||
10,454 | Healthcare Trust of America, Inc., Class – A | 265 | ||||||
5,931 | Highwoods Properties, Inc. | 229 | ||||||
10,085 | Hospitality Properties Trust | 241 | ||||||
34,661 | Host Hotels & Resorts, Inc. | 578 | ||||||
7,576 | Hudson Pacific Property, Inc. | 220 | ||||||
873 | Industrial Logistics Property Trust | 17 | ||||||
12,853 | Invitation Homes, Inc. | 258 | ||||||
15,172 | Iron Mountain, Inc. | 492 | ||||||
4,416 | JBG SMITH Properties | 154 | ||||||
5,160 | Kilroy Realty Corp. | 324 | ||||||
22,199 | Kimco Realty Corp. | 325 | ||||||
2,784 | Kite Realty Group Trust | 39 | ||||||
3,669 | Lamar Advertising Co., Class – A | 254 | ||||||
5,024 | Lexington Realty Trust | 41 | ||||||
8,488 | Liberty Property Trust | 355 | ||||||
2,820 | Life Storage, Inc. | 262 | ||||||
2,289 | Mack-Cali Realty Corp. | 45 | ||||||
22,231 | Medical Properties Trust, Inc. | 357 | ||||||
6,266 | Mid-America Apartment Communities, Inc. | 600 | ||||||
358 | National Health Investors, Inc. | 27 | ||||||
9,759 | National Retail Properties, Inc. | 473 | ||||||
12,562 | OMEGA Healthcare Investors, Inc. | 442 | ||||||
10,554 | Outfront Media, Inc. | 191 | ||||||
13,077 | Paramount Group, Inc. | 164 | ||||||
9,979 | Parks Hotels & Resorts, Inc. | 259 | ||||||
1,509 | Physicians Realty Trust | 24 | ||||||
4,377 | Piedmont Office Realty Trust, Inc., Class – A | 75 | ||||||
29,898 | Prologis, Inc. | 1,755 | ||||||
470 | PS Business Parks, Inc. | 62 | ||||||
3,144 | Public Storage | 636 | ||||||
8,401 | Rayonier, Inc. | 233 | ||||||
15,646 | Realty Income Corp. | 986 | ||||||
7,729 | Regency Centers Corp. | 454 | ||||||
1,583 | Retail Opportunity Investments Corp. | 25 |
See accompanying notes to financial statements.
12
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
17,244 | Retail Properties of America, Inc., Class – A | $ | 187 | |||||
548 | Retail Value, Inc. | 14 | ||||||
991 | Ryman Hospitality Properties, Inc. | 66 | ||||||
2,487 | Sabra Healthcare REIT, Inc. | 41 | ||||||
1,346 | SBA Communications Corp. (a) | 218 | ||||||
5,081 | Select Income REIT | 37 | ||||||
18,855 | Senior Housing Properties Trust | 221 | ||||||
7,939 | Simon Property Group, Inc. | 1,334 | ||||||
14,222 | SITE Centers Corp. | 157 | ||||||
4,437 | SL Green Realty Corp. | 351 | ||||||
6,413 | Spirit Realty Capital, Inc. | 226 | ||||||
11,354 | Store Capital Corp. | 321 | ||||||
4,679 | Sun Communities, Inc. | 476 | ||||||
2,241 | Tanger Factory Outlet Centers, Inc. | 45 | ||||||
1,545 | Taubman Centers, Inc. | 70 | ||||||
8,374 | The Macerich Co. | 362 | ||||||
15,798 | UDR, Inc. | 626 | ||||||
8,169 | Uniti Group, Inc. | 127 | ||||||
19,945 | Ventas, Inc. | 1,169 | ||||||
55,220 | VEREIT, Inc. | 395 | ||||||
17,885 | VICI Properties, Inc. | 336 | ||||||
8,336 | Vornado Realty Trust | 517 | ||||||
9,626 | Washington Prime Group, Inc. | 47 | ||||||
1,158 | Washington Real Estate Investment Trust | 27 | ||||||
6,961 | Weingarten Realty Investors | 173 | ||||||
21,091 | Welltower, Inc. | 1,464 | ||||||
34,379 | Weyerhaeuser Co. | 752 | ||||||
8,319 | WP Carey, Inc. | 544 | ||||||
2,435 | Xenia Hotels & Resorts, Inc. | 42 | ||||||
|
| |||||||
37,028 | ||||||||
|
| |||||||
Food & Staples Retailing — 2.06% |
| |||||||
3,105 | Casey’s General Stores, Inc. | 398 | ||||||
12,030 | Costco Wholesale Corp. | 2,451 | ||||||
2,453 | Performance Food Group Co. (a) | 79 | ||||||
4,985 | Sprouts Farmers Market, Inc. (a) | 117 | ||||||
15,443 | Sysco Corp. | 968 | ||||||
79,254 | The Kroger Co. | 2,179 | ||||||
2,792 | United Natural Foods, Inc. (a) | 30 | ||||||
12,459 | US Foods Holding Corp. (a) | 394 | ||||||
39,531 | Walgreens Boots Alliance, Inc. | 2,701 | ||||||
104,513 | Wal-Mart Stores, Inc. | 9,735 | ||||||
562 | Weis Markets, Inc. | 27 | ||||||
|
| |||||||
19,079 | ||||||||
|
| |||||||
Food Products — 1.58% |
| |||||||
43,904 | Archer-Daniels-Midland Co. | 1,799 | ||||||
937 | B&G Foods, Inc., Class – A | 27 | ||||||
14,195 | Bunge Ltd. | 759 | ||||||
1,836 | Cal-Maine Foods, Inc. | 78 | ||||||
5,808 | Campbell Soup Co. | 192 | ||||||
23,416 | ConAgra Foods, Inc. | 500 | ||||||
2,120 | Darling Ingredients, Inc. (a) | 41 | ||||||
14,202 | Flowers Foods, Inc. | 262 | ||||||
912 | Fresh Del Monte Produce, Inc. | 26 | ||||||
34,597 | General Mills, Inc. | 1,347 |
Shares | Security Description | Value (000) | ||||||
Food Products (continued) |
| |||||||
3,257 | Hershey Co. | $ | 349 | |||||
15,864 | Hormel Foods Corp. | 677 | ||||||
3,565 | Ingredion, Inc. | 326 | ||||||
187 | J&J Snack Foods Corp. | 27 | ||||||
9,697 | Kellogg Co. | 553 | ||||||
8,878 | Lamb Weston Holding, Inc. | 653 | ||||||
459 | Lancaster Colony Corp. | 81 | ||||||
6,868 | McCormick & Company, Inc. | 956 | ||||||
70,224 | Mondelez International, Inc., Class – A | 2,811 | ||||||
2,773 | Pilgrim’s Pride Corp. (a) | 43 | ||||||
2,158 | Post Holdings, Inc. (a) | 192 | ||||||
1,415 | Sanderson Farms, Inc. | 140 | ||||||
10 | Seaboard Corp. | 35 | ||||||
4,167 | The Hain Celestial Group, Inc. (a) | 66 | ||||||
5,825 | The J.M. Smucker Co. | 545 | ||||||
26,206 | The Kraft Heinz Co. | 1,128 | ||||||
4,058 | TreeHouse Foods, Inc. (a) | 206 | ||||||
15,536 | Tyson Foods, Inc., Class – A | 830 | ||||||
|
| |||||||
14,649 | ||||||||
|
| |||||||
Gas Utilities — 0.14% |
| |||||||
5,376 | Atmos Energy Corp. | 498 | ||||||
3,480 | National Fuel Gas Co. | 178 | ||||||
560 | New Jersey Resources Corp. | 26 | ||||||
327 | One Gas, Inc. | 26 | ||||||
323 | Southwest Gas Corp. | 25 | ||||||
541 | Spire, Inc. | 40 | ||||||
8,704 | UGI Corp. | 464 | ||||||
|
| |||||||
1,257 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 3.04% |
| |||||||
83,641 | Abbott Laboratories | 6,049 | ||||||
414 | Abiomed, Inc. (a) | 135 | ||||||
769 | Align Technology, Inc. (a) | 161 | ||||||
24,867 | Baxter International, Inc. | 1,637 | ||||||
12,974 | Becton, Dickinson & Co. | 2,923 | ||||||
30,688 | Boston Scientific Corp. (a) | 1,085 | ||||||
364 | Cantel Medical Corp. | 27 | ||||||
32,559 | Danaher Corp. | 3,357 | ||||||
10,040 | Dentsply Sirona, Inc. | 374 | ||||||
847 | Dexcom, Inc. (a) | 101 | ||||||
3,088 | Edwards Lifesciences Corp. (a) | 473 | ||||||
1,818 | Hill-Rom Holdings, Inc. | 161 | ||||||
11,815 | Hologic, Inc. (a) | 486 | ||||||
154 | ICU Medical, Inc. (a) | 35 | ||||||
833 | IDEXX Laboratories, Inc. (a) | 155 | ||||||
573 | Insulet Corp. (a) | 45 | ||||||
1,203 | Integra LifeSciences Holdings Corp. (a) | 54 | ||||||
1,864 | Intuitive Surgical, Inc. (a) | 893 | ||||||
1,136 | Masimo Corp. (a) | 122 | ||||||
59,276 | Medtronic PLC | 5,391 | ||||||
302 | Penumbra, Inc. (a) | 37 | ||||||
4,750 | ResMed, Inc. | 541 | ||||||
3,604 | Steris PLC | 385 | ||||||
5,906 | Stryker Corp. | 926 | ||||||
1,989 | Teleflex, Inc. | 514 | ||||||
2,580 | The Cooper Companies, Inc. | 657 |
See accompanying notes to financial statements.
13
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Equipment & Supplies (continued) |
| |||||||
1,132 | Varian Medical Systems, Inc. (a) | $ | 128 | |||||
3,113 | West Pharmaceutical Services, Inc. | 305 | ||||||
8,850 | Zimmer Holdings, Inc. | 918 | ||||||
|
| |||||||
28,075 | ||||||||
|
| |||||||
Health Care Providers & Services — 2.85% |
| |||||||
3,565 | Acadia Healthcare Company, Inc. (a) | 92 | ||||||
2,351 | AmerisourceBergen Corp. | 175 | ||||||
16,729 | Anthem, Inc. | 4,394 | ||||||
5,695 | Brookdale Senior Living, Inc. (a) | 38 | ||||||
20,120 | Cardinal Health, Inc. | 897 | ||||||
3,855 | Centene Corp. (a) | 444 | ||||||
722 | Chemed Corp. | 205 | ||||||
18,439 | Cigna Corp. | 3,502 | ||||||
94,564 | CVS Caremark Corp. | 6,195 | ||||||
5,208 | DaVita Healthcare Partners, Inc. (a) | 268 | ||||||
2,487 | Encompass Health Corp. | 153 | ||||||
9,627 | HCA Holdings, Inc. | 1,198 | ||||||
8,057 | Henry Schein, Inc. (a) | 633 | ||||||
3,568 | Humana, Inc. | 1,022 | ||||||
4,780 | Laboratory Corporation of America Holdings (a) | 604 | ||||||
1,159 | Magellan Health Services, Inc. (a) | 66 | ||||||
8,895 | McKesson Corp. | 983 | ||||||
6,468 | MEDNAX, Inc. (a) | 213 | ||||||
1,258 | Molina Heathcare, Inc. (a) | 146 | ||||||
4,279 | Owens & Minor, Inc. | 27 | ||||||
1,358 | Patterson Companies, Inc. | 27 | ||||||
2,760 | Premier, Inc., Class – A (a) | 103 | ||||||
7,761 | Quest Diagnostics, Inc. | 646 | ||||||
2,776 | Select Medical Holdings Corp. (a) | 43 | ||||||
6,452 | Tenet Healthcare Corp. (a) | 111 | ||||||
14,072 | UnitedHealth Group, Inc. | 3,506 | ||||||
4,160 | Universal Health Services, Inc., Class – B | 485 | ||||||
933 | WellCare Health Plans, Inc. (a) | 220 | ||||||
|
| |||||||
26,396 | ||||||||
|
| |||||||
Health Care Technology — 0.07% |
| |||||||
393 | athenahealth, Inc. (a) | 52 | ||||||
9,187 | Cerner Corp. (a) | 482 | ||||||
1,164 | Veeva Systems, Inc. (a) | 104 | ||||||
|
| |||||||
638 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.98% |
| |||||||
12,913 | Aramark | 374 | ||||||
1,608 | Bloomin’ Brands, Inc. | 29 | ||||||
7,257 | Brinker International, Inc. | 319 | ||||||
25,200 | Caesars Entertainment Corp. (a) | 171 | ||||||
17,386 | Carnival Corp., Class – A | 858 | ||||||
704 | Chipotle Mexican Grill, Inc. (a) | 304 | ||||||
700 | Choice Hotels International, Inc. | 50 | ||||||
183 | Churchill Downs, Inc. | 45 | ||||||
973 | Cracker Barrel Old Country Store, Inc. | 156 | ||||||
5,217 | Darden Restaurants, Inc. | 521 | ||||||
1,512 | DineEquity, Inc. | 102 | ||||||
1,455 | Domino’s Pizza, Inc. | 361 | ||||||
2,494 | Dunkin’ Brands Group, Inc. | 160 | ||||||
7,223 | Extended Stay America, Inc. | 112 |
Shares | Security Description | Value (000) | ||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
995 | Hilton Grand Vacations (a) | $ | 26 | |||||
2,708 | Hilton Worldwide Holdings, Inc. | 194 | ||||||
1,941 | Hyatt Hotels Corp., Class – A | 131 | ||||||
4,130 | International Game Technology PLC | 60 | ||||||
1,092 | Jack in the Box, Inc. | 85 | ||||||
10,775 | Las Vegas Sands Corp. | 561 | ||||||
3,049 | Marriott International, Inc., Class – A | 331 | ||||||
374 | Marriott Vacations Worldwide Corp. | 26 | ||||||
39,717 | McDonald’s Corp. | 7,052 | ||||||
20,481 | MGM Resorts International | 497 | ||||||
9,357 | Norwegian Cruise Line Holdings Ltd. (a) | 397 | ||||||
7,221 | Royal Caribbean Cruises Ltd. | 706 | ||||||
5,788 | SeaWorld Entertainment, Inc. (a) | 128 | ||||||
3,100 | Six Flags Entertainment Corp. | 172 | ||||||
24,417 | Starbucks Corp. | 1,572 | ||||||
1,004 | Texas Roadhouse, Inc., Class – A | 60 | ||||||
3,784 | The Cheesecake Factory, Inc. | 165 | ||||||
15,698 | The Wendy’s Co. | 245 | ||||||
923 | Vail Resorts, Inc. | 195 | ||||||
962 | Wyndham Hotels & Resorts, Inc. | 44 | ||||||
2,882 | Wyndham Worldwide Corp. | 103 | ||||||
1,105 | Wynn Resorts Ltd. | 109 | ||||||
14,665 | Yum China Holdings, Inc. | 492 | ||||||
15,086 | YUM! Brands, Inc. | 1,387 | ||||||
|
| |||||||
18,300 | ||||||||
|
| |||||||
Household Durables — 0.31% |
| |||||||
8,106 | D.R. Horton, Inc. | 281 | ||||||
4,903 | Garmin Ltd. | 310 | ||||||
190 | Helen of Troy Ltd. (a) | 25 | ||||||
1,693 | La-Z-Boy, Inc. | 47 | ||||||
8,366 | Leggett & Platt, Inc. | 300 | ||||||
7,176 | Lennar Corp., Class – A | 281 | ||||||
318 | Lennar Corp., Class – B | 10 | ||||||
1,505 | MDC Holdings, Inc. | 42 | ||||||
496 | Meritage Homes Corp. (a) | 18 | ||||||
2,641 | Mohawk Industries, Inc. (a) | 309 | ||||||
19,409 | Newell Rubbermaid, Inc. | 361 | ||||||
79 | NVR, Inc. (a) | 193 | ||||||
8,420 | PulteGroup, Inc. | 219 | ||||||
855 | Tempur Sealy International, Inc. (a) | 35 | ||||||
3,705 | Toll Brothers, Inc. | 122 | ||||||
1,300 | Tupperware Brands Corp. | 41 | ||||||
2,894 | Whirlpool Corp. | 309 | ||||||
|
| |||||||
2,903 | ||||||||
|
| |||||||
Household Products — 1.77% |
| |||||||
7,853 | Church & Dwight Co., Inc. | 516 | ||||||
40,644 | Colgate-Palmolive Co. | 2,419 | ||||||
1,328 | Energizer Holdings, Inc. | 60 | ||||||
8,243 | Kimberly-Clark Corp. | 939 | ||||||
1,060 | Spectrum Brands Holdings, Inc. | 45 | ||||||
3,504 | The Clorox Co. | 540 | ||||||
129,195 | The Procter & Gamble Co. | 11,876 | ||||||
|
| |||||||
16,395 | ||||||||
|
|
See accompanying notes to financial statements.
14
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Independent Power and Renewable Electricity Producers — 0.22% |
| |||||||
15,093 | NRG Energy, Inc., Class – C | $ | 598 | |||||
57,475 | The AES Corp. | 831 | ||||||
25,427 | Vistra Energy Corp. (a) | 582 | ||||||
|
| |||||||
2,011 | ||||||||
|
| |||||||
Industrial Conglomerates — 1.04% |
| |||||||
15,002 | 3M Co. | 2,858 | ||||||
2,547 | Carlisle Companies, Inc. | 256 | ||||||
417,094 | General Electric Co. | 3,158 | ||||||
16,911 | Honeywell International, Inc. | 2,234 | ||||||
4,247 | Roper Industries, Inc. | 1,132 | ||||||
|
| |||||||
9,638 | ||||||||
|
| |||||||
Insurance — 3.22% |
| |||||||
44,980 | Aflac, Inc. | 2,049 | ||||||
818 | Alleghany Corp. | 510 | ||||||
19,895 | Allstate Corp. | 1,644 | ||||||
2,593 | Ambac Financial Group, Inc. (a) | 45 | ||||||
1,047 | American Equity Investment Life Holding Co. | 29 | ||||||
3,791 | American Financial Group, Inc. | 343 | ||||||
63,308 | American International Group, Inc. | 2,496 | ||||||
283 | American National Insurance Co. | 36 | ||||||
2,368 | Aon PLC | 344 | ||||||
14,504 | Arch Capital Group Ltd. (a) | 387 | ||||||
9,708 | Arthur J. Gallagher & Co. | 715 | ||||||
2,463 | Aspen Insurance Holdings Ltd. | 103 | ||||||
3,521 | Assurant, Inc. | 315 | ||||||
4,721 | Assured Guaranty Ltd. | 181 | ||||||
6,685 | Athene Holding Ltd. (a) | 266 | ||||||
3,266 | AXIS Capital Holdings Ltd. | 169 | ||||||
5,878 | Brighthouse Financial, Inc. (a) | 179 | ||||||
13,537 | Brown & Brown, Inc. | 373 | ||||||
23,112 | Chubb Ltd. | 2,986 | ||||||
8,941 | Cincinnati Financial Corp. | 692 | ||||||
1,268 | CNA Financial Corp. | 56 | ||||||
3,109 | CNO Financial Group, Inc. | 46 | ||||||
621 | Erie Indemnity Co., Class – A | 83 | ||||||
1,278 | Everest Re Group Ltd. | 278 | ||||||
6,724 | First American Financial Corp. | 300 | ||||||
12,796 | FNF Group | 402 | ||||||
21,244 | Genworth Financial, Inc., Class – A (a) | 99 | ||||||
2,855 | Hanover Insurance Group, Inc. | 333 | ||||||
15,807 | Hartford Financial Services Group, Inc. | 703 | ||||||
1,601 | Kemper Corp. | 106 | ||||||
9,381 | Lincoln National Corp. | 481 | ||||||
17,516 | Loews Corp. | 797 | ||||||
605 | Markel Corp. (a) | 628 | ||||||
21,652 | Marsh & McLennan Companies, Inc. | 1,727 | ||||||
4,878 | MBIA, Inc. (a) | 44 | ||||||
2,682 | Mercury General Corp. | 139 | ||||||
37,037 | MetLife, Inc. | 1,521 | ||||||
1,089 | National General Holdings Corp. | 26 | ||||||
15,168 | Old Republic International Corp. | 312 | ||||||
272 | Primerica, Inc. | 27 | ||||||
12,076 | Principal Financial Group, Inc. | 533 |
Shares | Security Description | Value (000) | ||||||
Insurance (continued) |
| |||||||
1,194 | ProAssurance Corp. | $ | 48 | |||||
18,030 | Prudential Financial, Inc. | 1,470 | ||||||
2,750 | Reinsurance Group of America | 386 | ||||||
1,592 | RenaissanceRe Holdings Ltd. | 213 | ||||||
422 | Selective Insurance Group, Inc. | 26 | ||||||
647 | Stewart Information Services Corp. | 27 | ||||||
12,492 | The Progressive Corp. | 754 | ||||||
19,944 | The Travelers Companies, Inc. | 2,389 | ||||||
4,546 | Torchmark Corp. | 339 | ||||||
8,998 | Unum Group | 264 | ||||||
5,292 | W.R. Berkley Corp. | 391 | ||||||
206 | White Mountains Insurance Group Ltd. | 177 | ||||||
5,743 | Willis Towers Watson PLC | 872 | ||||||
|
| |||||||
29,859 | ||||||||
|
| |||||||
Interactive Media & Services — 1.08% |
| |||||||
2,916 | Alphabet, Inc., Class – A (a) | 3,047 | ||||||
2,972 | Alphabet, Inc., Class – C (a) | 3,078 | ||||||
1,299 | Cars.com, Inc. (a) | 28 | ||||||
23,212 | Facebook, Inc., Class – A (a) | 3,043 | ||||||
1,185 | Interactive Corp. (a) | 217 | ||||||
494 | Match Group, Inc. | 21 | ||||||
1,728 | TripAdvisor, Inc. (a) | 93 | ||||||
11,112 | Twitter, Inc. (a) | 319 | ||||||
1,036 | Zillow Group, Inc., Class – A (a) | 33 | ||||||
2,244 | Zillow Group, Inc., Class – C (a) | 71 | ||||||
|
| |||||||
9,950 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 1.17% |
| |||||||
5,488 | Amazon.com, Inc. (a) | 8,243 | ||||||
486 | Booking Holdings, Inc. (a) | 837 | ||||||
37,921 | eBay, Inc. (a) | 1,064 | ||||||
1,169 | Expedia, Inc. | 132 | ||||||
875 | GrubHub, Inc. (a) | 67 | ||||||
22,851 | Qurate Retail, Inc. (a) | 446 | ||||||
554 | Wayfair, Inc., Class – A (a) | 50 | ||||||
|
| |||||||
10,839 | ||||||||
|
| |||||||
IT Services — 2.91% |
| |||||||
11,816 | Accenture PLC, Class – A | 1,666 | ||||||
2,938 | Akamai Technologies, Inc. (a) | 179 | ||||||
725 | Alliance Data Systems Corp. | 109 | ||||||
7,459 | Amdocs Ltd. | 437 | ||||||
6,360 | Automatic Data Processing, Inc. | 834 | ||||||
1,377 | Black Knight, Inc. (a) | 62 | ||||||
7,886 | Booz Allen Hamilton Holding Corp. | 355 | ||||||
3,094 | Broadridge Financial Solutions, Inc. | 298 | ||||||
818 | CACI International, Inc., Class – A (a) | 118 | ||||||
7,738 | Cognizant Technology Solutions Corp. | 491 | ||||||
15,946 | Conduent, Inc. (a) | 170 | ||||||
1,825 | CoreLogic, Inc. (a) | 61 | ||||||
12,428 | DXC Technology Co. | 661 | ||||||
848 | EPAM Systems, Inc. (a) | 98 | ||||||
1,517 | Euronet Worldwide, Inc. (a) | 155 | ||||||
15,140 | Fidelity National Information Services, Inc. | 1,553 | ||||||
7,921 | First Data Corp. (a) | 134 | ||||||
8,005 | Fiserv, Inc. (a) | 588 | ||||||
851 | FleetCor Technologies, Inc. (a) | 158 |
See accompanying notes to financial statements.
15
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IT Services (continued) |
| |||||||
1,811 | Gartner Group, Inc. (a) | $ | 232 | |||||
7,676 | Genpact Ltd. | 207 | ||||||
2,614 | Global Payments, Inc. | 270 | ||||||
1,553 | GoDaddy, Inc., Class – A (a) | 102 | ||||||
49,442 | International Business Machines Corp. | 5,620 | ||||||
2,615 | Jack Henry & Associates, Inc. | 331 | ||||||
6,117 | Leidos Holdings, Inc. | 322 | ||||||
812 | ManTech International Corp., Class – A | 42 | ||||||
16,022 | MasterCard, Inc., Class – A | 3,023 | ||||||
842 | Okta, Inc. (a) | 54 | ||||||
7,397 | Paychex, Inc. | 482 | ||||||
17,069 | PayPal Holdings, Inc. (a) | 1,435 | ||||||
6,080 | Sabre Corp. | 132 | ||||||
669 | Science Applications International Corp. | 43 | ||||||
2,775 | Square, Inc., Class – A (a) | 156 | ||||||
101 | Switch, Inc., Class – A | 1 | ||||||
730 | Sykes Enterprises, Inc. (a) | 18 | ||||||
4,268 | Teradata Corp. (a) | 164 | ||||||
3,473 | Total System Services, Inc. | 282 | ||||||
694 | Twilio, Inc., Class – A (a) | 62 | ||||||
2,417 | VeriSign, Inc. (a) | 358 | ||||||
28,884 | Visa, Inc., Class – A | 3,811 | ||||||
23,117 | Western Union Co. | 394 | ||||||
696 | WEX, Inc. (a) | 97 | ||||||
14,548 | Worldpay, Inc., Class – A (a) | 1,112 | ||||||
|
| |||||||
26,877 | ||||||||
|
| |||||||
Leisure Products — 0.08% |
| |||||||
3,301 | Brunswick Corp. | 153 | ||||||
2,670 | Hasbro, Inc. | 217 | ||||||
23,537 | Mattel, Inc. (a) | 236 | ||||||
591 | Polaris Industries, Inc. | 45 | ||||||
845 | Sturm, Ruger & Co., Inc. | 45 | ||||||
2,476 | Vista Outdoor, Inc. (a) | 28 | ||||||
|
| |||||||
724 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.95% |
| |||||||
13,842 | Agilent Technologies, Inc. | 934 | ||||||
1,303 | Bio-Rad Laboratories, Inc., Class – A (a) | 303 | ||||||
636 | Bio-Techne Corp. | 92 | ||||||
3,880 | Bruker Biosciences Corp. | 116 | ||||||
1,207 | Charles River Laboratories International, Inc. (a) | 137 | ||||||
2,501 | Illumina, Inc. (a) | 750 | ||||||
8,229 | IQVIA Holdings, Inc. (a) | 956 | ||||||
404 | Mettler-Toledo International, Inc. (a) | 228 | ||||||
5,695 | PerkinElmer, Inc. | 447 | ||||||
553 | PRA Health Sciences, Inc. (a) | 51 | ||||||
9,916 | Qiagen N.V. (a) | 342 | ||||||
18,817 | Thermo Electron Corp. | 4,210 | ||||||
1,060 | Waters Corp. (a) | 200 | ||||||
|
| |||||||
8,766 | ||||||||
|
| |||||||
Machinery — 1.36% |
| |||||||
1,748 | Actuant Corp., Class – A | 37 | ||||||
4,280 | AGCO Corp. | 238 | ||||||
4,020 | Allison Transmission Holdings, Inc. | 177 | ||||||
1,949 | Briggs & Stratton Corp. | 25 |
Shares | Security Description | Value (000) | ||||||
Machinery (continued) |
| |||||||
7,234 | Caterpillar, Inc. | $ | 919 | |||||
3,958 | Colfax Corp. (a) | 83 | ||||||
2,687 | Crane Co. | 194 | ||||||
6,615 | Cummins, Inc. | 884 | ||||||
7,848 | Deere & Co. | 1,172 | ||||||
3,851 | Donaldson Company, Inc. | 167 | ||||||
6,535 | Dover Corp. | 464 | ||||||
7,321 | Flowserve Corp. | 278 | ||||||
6,139 | Fortive Corp. | 415 | ||||||
4,424 | Gardner Denver Holdings, Inc. (a) | 90 | ||||||
1,544 | Gates Industrial Corp. PLC (a) | 20 | ||||||
2,642 | Graco, Inc. | 111 | ||||||
1,391 | Hillenbrand, Inc. | 53 | ||||||
1,403 | IDEX Corp. | 177 | ||||||
5,632 | Illinois Tool Works, Inc. | 714 | ||||||
7,592 | Ingersoll-Rand PLC | 692 | ||||||
5,182 | ITT, Inc. | 250 | ||||||
1,903 | Lincoln Electric Holdings, Inc. | 150 | ||||||
1,167 | Mueller Industries, Inc. | 27 | ||||||
1,124 | Nordson, Inc. | 134 | ||||||
3,176 | Oshkosh Corp. | 195 | ||||||
15,141 | PACCAR, Inc. | 865 | ||||||
5,841 | Parker Hannifin Corp. | 871 | ||||||
6,878 | Pentair PLC | 260 | ||||||
2,598 | Snap-on, Inc. | 377 | ||||||
619 | SPX FLOW, Inc. (a) | 19 | ||||||
6,746 | Stanley Black & Decker, Inc. | 808 | ||||||
5,738 | Terex Corp. | 158 | ||||||
1,946 | The Greenbrier Companies, Inc. | 77 | ||||||
1,228 | The Middleby Corp. (a) | 126 | ||||||
5,102 | The Timken Co. | 190 | ||||||
3,024 | The Toro Co. | 169 | ||||||
8,739 | Trinity Industries, Inc. | 180 | ||||||
2,240 | Wabash National Corp. | 29 | ||||||
1,201 | WABCO Holdings, Inc. (a) | 129 | ||||||
3,424 | Wabtec Corp. | 241 | ||||||
1,223 | Welbilt, Inc. (a) | 14 | ||||||
6,646 | Xylem, Inc. | 443 | ||||||
|
| |||||||
12,622 | ||||||||
|
| |||||||
Marine — 0.02% |
| |||||||
2,839 | Kirby Corp. (a) | 191 | ||||||
558 | Matson, Inc. | 18 | ||||||
|
| |||||||
209 | ||||||||
|
| |||||||
Media — 1.39% |
| |||||||
896 | AMC Networks, Inc. (a) | 49 | ||||||
141 | Cable One, Inc. | 116 | ||||||
9,862 | CBS Corp., Class – B | 431 | ||||||
3,460 | Charter Communications, Inc., Class – A (a) | 986 | ||||||
200,080 | Comcast Corp., Class – A | 6,813 | ||||||
11,337 | Discovery Communications, Inc., Class – A (a) | 280 | ||||||
15,408 | Discovery Communications, Inc., Class – C (a) | 356 | ||||||
9,766 | Dish Network Corp. (a) | 244 | ||||||
7,063 | Gannett Company, Inc. | 60 | ||||||
4,267 | GCI Liberty, Inc., Class – A (a) | 176 | ||||||
1,906 | John Wiley & Sons, Inc., Class – A | 90 |
See accompanying notes to financial statements.
16
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Media (continued) |
| |||||||
1,166 | Liberty Broadband, Class – A (a) | $ | 84 | |||||
4,825 | Liberty Broadband, Class – C (a) | 348 | ||||||
3,639 | Liberty SiriusXM Group, Class – A (a) | 134 | ||||||
15,480 | Liberty SiriusXM Group, Class – C (a) | 572 | ||||||
2,076 | New Media Investment Group, Inc. | 24 | ||||||
5,404 | News Corp., Inc. | 62 | ||||||
24,335 | News Corp., Inc., Class – A | 276 | ||||||
9,097 | Omnicom Group, Inc. | 666 | ||||||
615 | Scholastic Corp. | 25 | ||||||
928 | Sinclair Broadcast Group, Inc., Class – A | 24 | ||||||
24,065 | Sirius XM Holdings, Inc. | 137 | ||||||
4,256 | TEGNA, Inc. | 46 | ||||||
23,438 | The Interpublic Group of Companies, Inc. | 484 | ||||||
1,096 | The New York Times Co., Class – A | 24 | ||||||
7,931 | Tribune Media Co., Class – A | 360 | ||||||
|
| |||||||
12,867 | ||||||||
|
| |||||||
Metals & Mining — 0.43% |
| |||||||
13,070 | Alcoa Corp. (a) | 347 | ||||||
3,503 | Allegheny Technologies, Inc. (a) | 76 | ||||||
1,219 | Carpenter Technology Corp. | 43 | ||||||
15,141 | Cleveland- Cliffs, Inc. (a) | 116 | ||||||
4,612 | Commercial Metals Co. | 74 | ||||||
1,043 | Compass Minerals International, Inc. | 43 | ||||||
69,137 | Freeport-McMoRan Copper & Gold, Inc. | 714 | ||||||
704 | Kaiser Aluminum Corp. | 63 | ||||||
584 | Materion Corp. | 26 | ||||||
23,525 | Newmont Mining Corp. | 816 | ||||||
13,639 | Nucor Corp. | 707 | ||||||
4,242 | Reliance Steel & Aluminum Co. | 302 | ||||||
1,918 | Royal Gold, Inc. | 164 | ||||||
1,595 | Schnitzer Steel Industries, Inc., Class – A | 34 | ||||||
820 | Southern Copper Corp. | 25 | ||||||
8,565 | Steel Dynamics, Inc. | 257 | ||||||
7,557 | United States Steel Corp. | 138 | ||||||
1,060 | Worthington Industries, Inc. | 37 | ||||||
|
| |||||||
3,982 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.31% |
| |||||||
27,168 | AGNC Investment Corp. | 477 | ||||||
68,815 | Annaly Capital Management, Inc. | 676 | ||||||
2,383 | Apollo Commercial Real Estate Finance, Inc. | 40 | ||||||
2,366 | Blackstone Mortgage Trust, Inc. | 75 | ||||||
3,970 | Capstead Mortgage Corp. | 26 | ||||||
14,011 | Chimera Investment Corp. | 250 | ||||||
4,834 | Invesco Mortgage Capital, Inc. | 70 | ||||||
2,624 | Ladder Capital Corp. | 41 | ||||||
29,385 | MFA Financial, Inc. | 196 | ||||||
24,471 | New Residential Investment Corp. | 348 | ||||||
2,170 | Pennymac Mortgage Investment Trust | 40 | ||||||
3,103 | Redwood Trust, Inc. | 47 | ||||||
18,329 | Starwood Property Trust, Inc. | 361 | ||||||
20,744 | Two Harbors Investment Corp. | 266 | ||||||
|
| |||||||
2,913 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Multiline Retail — 0.82% |
| |||||||
1,605 | Big Lots, Inc. | $ | 46 | |||||
737 | Dillard’s, Inc., Class – A | 44 | ||||||
9,682 | Dollar General Corp. | 1,046 | ||||||
8,911 | Dollar Tree, Inc. (a) | 805 | ||||||
15,847 | Kohl’s Corp. | 1,051 | ||||||
33,066 | Macy’s, Inc. | 985 | ||||||
6,846 | Nordstrom, Inc. | 319 | ||||||
49,352 | Target Corp. | 3,263 | ||||||
|
| |||||||
7,559 | ||||||||
|
| |||||||
Multi-Utilities — 1.22% |
| |||||||
11,751 | Ameren Corp. | 767 | ||||||
406 | Black Hills Corp. | 25 | ||||||
21,578 | CenterPoint Energy, Inc. | 609 | ||||||
14,188 | CMS Energy Corp. | 704 | ||||||
13,534 | Consolidated Edison, Inc. | 1,035 | ||||||
28,598 | Dominion Resources, Inc. | 2,043 | ||||||
8,692 | DTE Energy Co. | 959 | ||||||
12,261 | MDU Resources Group, Inc. | 292 | ||||||
15,564 | NiSource, Inc. | 395 | ||||||
24,506 | Public Service Enterprise Group, Inc. | 1,276 | ||||||
7,528 | SCANA Corp. | 360 | ||||||
13,117 | Sempra Energy | 1,419 | ||||||
4,137 | Vectren Corp. | 298 | ||||||
15,338 | WEC Energy Group, Inc. | 1,062 | ||||||
|
| |||||||
11,244 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 6.12% |
| |||||||
18,614 | Anadarko Petroleum Corp. | 816 | ||||||
6,131 | Antero Resources Corp. (a) | 58 | ||||||
18,527 | Apache Corp. | 486 | ||||||
8,204 | Cabot Oil & Gas Corp. | 183 | ||||||
7,327 | Centennial Resource Development, Inc. (a) | 81 | ||||||
4,741 | Cheniere Energy, Inc. (a) | 281 | ||||||
38,033 | Chesapeake Energy Corp. (a) | 80 | ||||||
100,524 | Chevron Corp. | 10,936 | ||||||
3,597 | Cimarex Energy Co. | 222 | ||||||
11,494 | CNX Resources Corp. (a) | 131 | ||||||
7,718 | Concho Resources, Inc. (a) | 793 | ||||||
84,015 | ConocoPhillips | 5,238 | ||||||
2,364 | Continental Resources, Inc. (a) | 95 | ||||||
548 | CVR Energy, Inc. | 19 | ||||||
22,134 | Devon Energy Corp. | 499 | ||||||
6,038 | Diamondback Energy, Inc. | 560 | ||||||
23,149 | EOG Resources, Inc. | 2,019 | ||||||
11,217 | EQT Corp. | 212 | ||||||
8,975 | Equitrans Midstream Corp. (a) | 180 | ||||||
4,014 | Extraction Oil & Gas, Inc. (a) | 17 | ||||||
211,513 | Exxon Mobil Corp. | 14,422 | ||||||
2,231 | Green Plains, Inc. | 29 | ||||||
23,482 | Hess Corp. | 951 | ||||||
18,948 | HollyFrontier Corp. | 969 | ||||||
88,399 | Kinder Morgan, Inc. | 1,360 | ||||||
11,961 | Kosmos Energy Ltd. (a) | 49 | ||||||
67,338 | Marathon Oil Corp. | 966 | ||||||
41,770 | Marathon Petroleum Corp. | 2,465 | ||||||
12,895 | Murphy Oil Corp. | 302 |
See accompanying notes to financial statements.
17
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||
5,873 | Newfield Exploration Co. (a) | $ | 86 | |||||
20,544 | Noble Energy, Inc. | 385 | ||||||
5,210 | Oasis Petroleum, Inc. (a) | 29 | ||||||
37,328 | Occidental Petroleum Corp. | 2,291 | ||||||
15,324 | ONEOK, Inc. | 827 | ||||||
5,224 | Parsley Energy, Inc., Class – A (a) | 83 | ||||||
8,934 | PBF Energy, Inc., Class – A | 292 | ||||||
1,524 | Peabody Energy Corp. | 46 | ||||||
30,700 | Phillips 66 | 2,645 | ||||||
4,163 | Pioneer Natural Resources Co. | 548 | ||||||
23,864 | QEP Resources, Inc. (a) | 134 | ||||||
12,713 | Range Resources Corp. | 122 | ||||||
10,277 | SM Energy Co. | 159 | ||||||
10,887 | Targa Resources Corp. | 392 | ||||||
53,502 | The Williams Companies, Inc. | 1,180 | ||||||
32,680 | Valero Energy Corp. | 2,450 | ||||||
9,421 | Whiting Petroleum Corp. (a) | 214 | ||||||
2,902 | World Fuel Services Corp. | 62 | ||||||
19,566 | WPX Energy, Inc. (a) | 222 | ||||||
|
| |||||||
56,586 | ||||||||
|
| |||||||
Paper & Forest Products — 0.02% |
| |||||||
1,227 | Boise Cascade Co. | 29 | ||||||
4,629 | Domtar Corp. | 162 | ||||||
699 | Schweitzer-Mauduit International, Inc. | 18 | ||||||
|
| |||||||
209 | ||||||||
|
| |||||||
Personal Products — 0.16% |
| |||||||
23,377 | Coty, Inc., Class – A | 153 | ||||||
1,151 | Edgewell Personal Care Co. (a) | 43 | ||||||
6,179 | Herbalife Ltd. (a) | 364 | ||||||
3,974 | Nu Skin Enterprises, Inc., Class – A | 244 | ||||||
4,990 | The Estee Lauder Companies, Inc., Class – A | 649 | ||||||
346 | USANA Health Sciences, Inc. (a) | 41 | ||||||
|
| |||||||
1,494 | ||||||||
|
| |||||||
Pharmaceuticals — 5.23% |
| |||||||
16,564 | Allergan PLC | 2,214 | ||||||
8,524 | Bausch Health Cos., Inc. Co. (a) | 157 | ||||||
42,085 | Bristol-Myers Squibb Co. | 2,188 | ||||||
6,074 | Catalent, Inc. (a) | 189 | ||||||
1,568 | Elanco Animal Health, Inc. (a) | 49 | ||||||
26,304 | Eli Lilly & Co. | 3,044 | ||||||
717 | Jazz Pharmaceuticals PLC (a) | 89 | ||||||
122,459 | Johnson & Johnson | 15,804 | ||||||
5,078 | Mallinckrodt PLC (a) | 80 | ||||||
137,901 | Merck & Co., Inc. | 10,537 | ||||||
22,085 | Mylan N.V. (a) | 605 | ||||||
1,514 | Nektar Therapeutics (a) | 50 | ||||||
5,525 | Perrigo Co. PLC | 214 | ||||||
283,087 | Pfizer, Inc. | 12,358 | ||||||
9,504 | Zoetis, Inc. | 813 | ||||||
|
| |||||||
48,391 | ||||||||
|
| |||||||
Professional Services — 0.34% |
| |||||||
325 | ASGN, Inc. (a) | 18 | ||||||
596 | CoStar Group, Inc. (a) | 201 |
Shares | Security Description | Value (000) | ||||||
Professional Services (continued) |
| |||||||
4,206 | Equifax, Inc. | $ | 392 | |||||
1,296 | FTI Consulting, Inc. (a) | 86 | ||||||
16,866 | IHS Markit Ltd. (a) | 809 | ||||||
4,087 | ManpowerGroup, Inc. | 265 | ||||||
15,996 | Nielsen Holdings PLC | 373 | ||||||
2,989 | Robert Half International, Inc. | 171 | ||||||
1,398 | The Dun & Bradstreet Corp. | 200 | ||||||
3,079 | TransUnion Holding Company, Inc. | 175 | ||||||
1,128 | TrueBlue, Inc. (a) | 25 | ||||||
4,053 | Versik Analytics, Inc., Class – A (a) | 441 | ||||||
|
| |||||||
3,156 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.09% |
| |||||||
8,541 | CBRE Group, Inc., Class – A (a) | 342 | ||||||
1,303 | Howard Hughes Corp. (a) | 127 | ||||||
1,959 | Jones Lang LaSalle, Inc. | 248 | ||||||
5,742 | Realogy Holdings Corp. | 84 | ||||||
|
| |||||||
801 | ||||||||
|
| |||||||
Road & Rail — 0.78% |
| |||||||
375 | AMERCO, Inc. | 123 | ||||||
1,784 | ArcBest Corp. | 61 | ||||||
2,482 | Avis Budget Group, Inc. (a) | 56 | ||||||
26,706 | CSX Corp. | 1,659 | ||||||
2,559 | Genesee & Wyoming, Inc., Class – A (a) | 189 | ||||||
5,244 | Hertz Global Holdings, Inc. (a) | 72 | ||||||
1,849 | Hunt (JB) Transportation Services, Inc. | 172 | ||||||
4,383 | Kansas City Southern | 418 | ||||||
5,943 | Knight-Swift Transportation Holdings, Inc. | 149 | ||||||
1,343 | Landstar System, Inc. | 128 | ||||||
13,403 | Norfolk Southern Corp. | 2,005 | ||||||
979 | Old Dominion Freight Line, Inc. | 121 | ||||||
3,758 | Ryder System, Inc. | 181 | ||||||
1,358 | Schneider National, Inc. | 25 | ||||||
13,065 | Union Pacific Corp. | 1,807 | ||||||
929 | Werner Enterprises, Inc. | 27 | ||||||
|
| |||||||
7,193 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 2.73% |
| |||||||
8,811 | Advanced Micro Devices, Inc. (a) | 163 | ||||||
14,083 | Analog Devices, Inc. | 1,209 | ||||||
12,150 | Applied Materials, Inc. | 398 | ||||||
9,696 | Broadcom, Inc. | 2,465 | ||||||
3,639 | Cree, Inc. (a) | 156 | ||||||
8,006 | Cypress Semiconductor Corp. | 102 | ||||||
3,517 | First Solar, Inc. (a) | 149 | ||||||
1,676 | Integrated Device Technology, Inc. (a) | 81 | ||||||
223,405 | Intel Corp. | 10,485 | ||||||
2,452 | KLA-Tencor Corp. | 219 | ||||||
1,528 | Lam Research Corp. | 208 | ||||||
18,481 | Marvell Technology Group Ltd. | 299 | ||||||
2,699 | Maxim Integrated Products, Inc. | 137 | ||||||
2,231 | Microchip Technology, Inc. | 160 | ||||||
19,656 | Micron Technology, Inc. (a) | 624 | ||||||
532 | MKS Instruments, Inc. | 34 | ||||||
399 | Monolithic Power Systems, Inc. | 46 | ||||||
5,652 | NVIDIA Corp. | 755 | ||||||
14,292 | NXP Semiconductors N.V. | 1,047 |
See accompanying notes to financial statements.
18
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
4,106 | ON Semiconductor Corp. (a) | $ | 68 | |||||
6,033 | Qorvo, Inc. (a) | 366 | ||||||
66,105 | Qualcomm, Inc. | 3,762 | ||||||
3,771 | Skyworks Solutions, Inc. | 253 | ||||||
694 | Synaptics, Inc. (a) | 26 | ||||||
7,362 | Teradyne, Inc. | 231 | ||||||
14,720 | Texas Instruments, Inc. | 1,391 | ||||||
419 | Universal Display Corp. | 39 | ||||||
1,072 | Versum Materials, Inc. | 30 | ||||||
5,103 | Xilinx, Inc. | 435 | ||||||
|
| |||||||
25,338 | ||||||||
|
| |||||||
Software — 2.83% |
| |||||||
514 | 2U, Inc. (a) | 26 | ||||||
678 | ACI Worldwide, Inc. (a) | 19 | ||||||
7,176 | Adobe Systems, Inc. (a) | 1,623 | ||||||
1,978 | ANSYS, Inc. (a) | 283 | ||||||
819 | Aspen Technology, Inc. (a) | 67 | ||||||
861 | Atlassian Corp. PLC, Class – A (a) | 77 | ||||||
4,759 | Autodesk, Inc. (a) | 612 | ||||||
4,273 | Cadence Design Systems, Inc. (a) | 186 | ||||||
2,161 | CDK Global, Inc. | 103 | ||||||
328 | Ceridian HCM Holding, Inc. (a) | 11 | ||||||
1,936 | Citrix Systems, Inc. | 198 | ||||||
8,231 | Dell Technologies, Inc., Class – V (a) | 658 | ||||||
689 | Docusign, Inc. (a) | 28 | ||||||
765 | Fair Isaac Corp. (a) | 143 | ||||||
4,476 | FireEye, Inc. (a) | 73 | ||||||
1,349 | Fortinet, Inc. (a) | 95 | ||||||
775 | Guidewire Software, Inc. (a) | 62 | ||||||
4,646 | Intuit, Inc. | 915 | ||||||
1,089 | LogMeln, Inc. | 89 | ||||||
1,641 | Manhattan Associates, Inc. (a) | 70 | ||||||
110,165 | Microsoft Corp. | 11,188 | ||||||
12,522 | Nuance Communications, Inc. (a) | 166 | ||||||
1,348 | Nutanix, Inc., Class – A (a) | 56 | ||||||
103,748 | Oracle Corp. | 4,683 | ||||||
481 | Paycom Software, Inc. (a) | 59 | ||||||
354 | Pegasystems, Inc. | 17 | ||||||
66 | Pluralsight, Inc., Class – A (a) | 2 | ||||||
494 | Proofpoint, Inc. (a) | 41 | ||||||
1,747 | PTC, Inc. (a) | 145 | ||||||
705 | RealPage, Inc. (a) | 34 | ||||||
2,887 | Red Hat, Inc. (a) | 507 | ||||||
662 | RingCentral, Inc., Class – A (a) | 55 | ||||||
10,657 | Salesforce.com, Inc. (a) | 1,460 | ||||||
1,699 | ServiceNow, Inc. (a) | 303 | ||||||
1,405 | Splunk, Inc. (a) | 147 | ||||||
3,743 | SS&C Technologies Holdings, Inc. | 169 | ||||||
32,149 | Symantec Corp. | 607 | ||||||
6,906 | Synopsys, Inc. (a) | 582 | ||||||
677 | Tableau Software, Inc., Class – A (a) | 81 | ||||||
295 | The Ultimate Software Group, Inc. (a) | 72 | ||||||
365 | Tyler Technologies, Inc. (a) | 68 | ||||||
1,013 | VMware, Inc., Class – A | 139 |
Shares | Security Description | Value (000) | ||||||
Software (continued) |
| |||||||
1,408 | Workday, Inc., Class – A (a) | $ | 225 | |||||
1,020 | Zendesk, Inc. (a) | 60 | ||||||
|
| |||||||
26,204 | ||||||||
|
| |||||||
Specialty Retail — 1.66% |
| |||||||
1,506 | Aaron’s, Inc. | 63 | ||||||
6,199 | Abercrombie & Fitch Co., Class – A | 124 | ||||||
2,927 | Advance Auto Parts, Inc. | 461 | ||||||
16,428 | American Eagle Outfitters, Inc. | 318 | ||||||
1,738 | Asbury Automotive Group, Inc. (a) | 116 | ||||||
3,569 | AutoNation, Inc. (a) | 127 | ||||||
848 | AutoZone, Inc. (a) | 711 | ||||||
17,710 | Bed Bath & Beyond, Inc. | 200 | ||||||
13,203 | Best Buy Co., Inc. | 699 | ||||||
647 | Burlington Stores, Inc. (a) | 105 | ||||||
1,551 | Caleres, Inc. | 43 | ||||||
4,206 | CarMax, Inc. (a) | 264 | ||||||
13,331 | Chico’s FAS, Inc. | 75 | ||||||
5,142 | Dick’s Sporting Goods, Inc. | 160 | ||||||
7,576 | DSW, Inc., Class – A | 187 | ||||||
164 | Floor & Decor Holdings, Inc., Class – A (a) | 4 | ||||||
10,128 | Foot Locker, Inc. | 539 | ||||||
6,478 | GameStop Corp., Class – A | 82 | ||||||
20,472 | Gap, Inc. | 527 | ||||||
1,617 | Genesco, Inc. (a) | 72 | ||||||
1,022 | Group 1 Automotive, Inc. | 54 | ||||||
3,346 | Guess?, Inc. | 69 | ||||||
11,949 | L Brands, Inc. | 307 | ||||||
19,044 | Lowe’s Companies, Inc. | 1,759 | ||||||
3,897 | Michaels Companies, Inc. The (a) | 53 | ||||||
2,027 | Murphy USA, Inc. (a) | 155 | ||||||
22,133 | Office Depot, Inc. | 57 | ||||||
2,463 | O’Reilly Automotive, Inc. (a) | 848 | ||||||
2,282 | Penske Automotive Group, Inc. | 92 | ||||||
216 | Restoration Hardware Co. (a) | 26 | ||||||
7,187 | Ross Stores, Inc. | 598 | ||||||
10,829 | Sally Beauty Holdings, Inc. (a) | 185 | ||||||
2,374 | Signet Jewelers Ltd. | 75 | ||||||
902 | Sleep Number Corp. (a) | 29 | ||||||
3,522 | The Buckle, Inc. | 68 | ||||||
285 | The Children’s Place Retail Stores, Inc. | 26 | ||||||
18,036 | The Home Depot, Inc. | 3,099 | ||||||
35,047 | The TJX Companies, Inc. | 1,568 | ||||||
4,603 | Tiffany & Co. | 371 | ||||||
2,982 | Tractor Supply Co. | 249 | ||||||
1,146 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 281 | ||||||
3,625 | Urban Outfitters, Inc. (a) | 120 | ||||||
6,522 | Williams-Sonoma, Inc. | 329 | ||||||
|
| |||||||
15,295 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 1.69% |
| |||||||
69,023 | Apple, Inc. | 10,887 | ||||||
80,550 | Hewlett Packard Enterprise Co. | 1,064 | ||||||
96,328 | HP, Inc. | 1,971 | ||||||
1,757 | NCR Corp. (a) | 41 | ||||||
3,906 | NetApp, Inc. | 233 | ||||||
1,546 | Pure Storage, Inc., Class – A (a) | 25 |
See accompanying notes to financial statements.
19
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Technology Hardware, Storage & Peripherals (continued) |
| |||||||
16,680 | Seagate Technology Holdings, Inc. | $ | 644 | |||||
13,130 | Western Digital Corp. | 485 | ||||||
15,950 | Xerox Corp. | 315 | ||||||
|
| |||||||
15,665 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.54% |
| |||||||
2,205 | Carter’s, Inc. | 180 | ||||||
1,425 | Columbia Sportswear Co. | 120 | ||||||
1,098 | Deckers Outdoor Corp. (a) | 140 | ||||||
6,417 | Fossil Group, Inc. (a) | 101 | ||||||
1,656 | G-III Apparel Group Ltd. (a) | 46 | ||||||
7,548 | Hanesbrands, Inc. | 95 | ||||||
951 | Lululemon Athletica, Inc. (a) | 116 | ||||||
3,830 | Michael Kors Holdings Ltd. (a) | 145 | ||||||
26,433 | NIKE, Inc., Class – B | 1,959 | ||||||
3,277 | PVH Corp. | 305 | ||||||
4,082 | Ralph Lauren Corp. | 422 | ||||||
3,648 | Skechers USA, Inc., Class – A (a) | 84 | ||||||
2,521 | Steven Madden Ltd. | 76 | ||||||
10,475 | Tapestry, Inc. | 354 | ||||||
5,688 | Under Armour, Inc., Class – A (a) | 101 | ||||||
3,406 | Under Armour, Inc., Class – C (a) | 55 | ||||||
9,902 | V.F. Corp. | 706 | ||||||
|
| |||||||
5,005 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.03% |
| |||||||
2,007 | Capitol Federal Financial, Inc. | 26 | ||||||
22,418 | New York Community Bancorp, Inc. | 211 | ||||||
1,637 | Northwest Bancshares, Inc. | 28 | ||||||
2,003 | TFS Financial Corp. | 32 | ||||||
|
| |||||||
297 | ||||||||
|
| |||||||
Tobacco — 0.79% |
| |||||||
27,390 | Altria Group, Inc. | 1,353 | ||||||
87,948 | Philip Morris International, Inc. | 5,871 | ||||||
749 | Universal Corp. | 41 | ||||||
2,750 | Vector Group Ltd. | 27 | ||||||
|
| |||||||
7,292 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.28% |
| |||||||
3,930 | Air Lease Corp. | 119 | ||||||
1,621 | Aircastle Ltd. | 28 | ||||||
798 | Applied Industrial Technologies, Inc. | 43 | ||||||
6,623 | Fastenal Co. | 346 | ||||||
1,416 | GATX Corp. | 100 | ||||||
1,990 | H&E Equipment Services, Inc. | 41 | ||||||
9,034 | HD Supply Holdings, Inc. (a) | 339 | ||||||
508 | Kaman Corp. | 28 | ||||||
3,534 | MRC Global, Inc. (a) | 43 | ||||||
3,167 | MSC Industrial Direct Co., Inc., Class – A | 244 | ||||||
7,075 | NOW, Inc. (a) | 82 | ||||||
870 | Rush Enterprises, Inc., Class – A | 30 | ||||||
1,551 | United Rentals, Inc. (a) | 159 | ||||||
4,103 | Univar, Inc. (a) | 73 | ||||||
1,946 | W.W. Grainger, Inc. | 550 | ||||||
1,210 | Watsco, Inc. | 168 | ||||||
4,303 | WESCO International, Inc. (a) | 207 | ||||||
|
| |||||||
2,600 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Transportation Infrastructure — 0.02% |
| |||||||
4,893 | Macquarie Infrastructure Corp. | $ | 179 | |||||
|
| |||||||
Water Utilities — 0.11% |
| |||||||
7,990 | American Water Works Co., Inc. | 725 | ||||||
7,871 | Aqua America, Inc. | 269 | ||||||
|
| |||||||
994 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.11% |
| |||||||
30,706 | Sprint Nextel Corp. (a) | 179 | ||||||
7,138 | Telephone & Data Systems, Inc. | 232 | ||||||
8,274 | T-Mobile USA, Inc. (a) | 526 | ||||||
1,406 | U.S. Cellular Corp. (a) | 73 | ||||||
|
| |||||||
1,010 | ||||||||
|
| |||||||
Total Common Stocks | 811,638 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.02% |
| |||||||
$ | 145 | U.S. Treasury Bill, 2.36%, 3/7/19 (b)(c) | 144 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 144 | |||||||
|
| |||||||
Shares | ||||||||
Exchange-Traded Fund — 0.10% |
| |||||||
6,958 | iShares Russell 1000 ETF | 965 | ||||||
|
| |||||||
Total Exchange-Traded Fund | 965 | |||||||
|
| |||||||
Investment Companies — 11.26% |
| |||||||
182,311 | Dreyfus Treasury Prime Cash Management Fund, Institutional Shares, 2.20% (d) | 182 | ||||||
104,006,676 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (d) | 104,007 | ||||||
|
| |||||||
Total Investment Companies | 104,189 | |||||||
|
| |||||||
Total Investments | 916,936 | |||||||
Other assets in excess of liabilities — 0.89% | 8,236 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 925,172 | ||||||
|
|
(a) | Representsnon-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2018. |
ETF — Exchange-Traded Fund
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
20
Table of Contents
HC CAPITAL TRUST
The Institutional Value Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Institutional Value Equity Portfolio | Mellon Investments Corporation* | Pacific Investment Management Company, LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 68.07 | % | 19.66 | % | — | — | 87.73 | % | ||||||||||||
U.S. Treasury Obligation | 0.02 | % | — | — | — | 0.02 | % | |||||||||||||
Exchange-Traded Fund | 0.10 | % | — | — | — | 0.10 | % | |||||||||||||
Investment Companies | — | — | 9.38 | % | 1.88 | % | 11.26 | % | ||||||||||||
Other Assets (Liabilities) | 0.10 | % | 0.04 | % | 0.75 | % | 0.00 | % | 0.89 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Net Assets | 68.29 | % | 19.70 | % | 10.13 | % | 1.88 | % | 100.00 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
E-Mini S&P 500 Future | 632 | 3/15/19 | $ | 79,164 | $ | 3,628 | ||||||||
E-Mini S&P Midcap 400 Future | 187 | 3/15/19 | 31,083 | 1,108 | ||||||||||
|
|
|
| |||||||||||
$ | 110,247 | $ | 4,736 | |||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | 4,736 | |||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 4,736 | |||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts | designated as “—” are $0 or have been rounded to $0. |
See accompanying notes to financial statements.
21
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 96.69% |
| |||||||
Aerospace & Defense — 2.25% |
| |||||||
890 | BWX Technologies, Inc. | $ | 34 | |||||
6,271 | General Dynamics Corp. | 986 | ||||||
2,732 | Harris Corp. | 368 | ||||||
391 | HEICO Corp. | 30 | ||||||
728 | HEICO Corp., Class – A | 46 | ||||||
605 | Hexcel Corp. | 35 | ||||||
360 | Huntington Ingalls Industries, Inc. | 69 | ||||||
1,611 | L3 Technologies, Inc. | 280 | ||||||
5,693 | Lockheed Martin Corp. | 1,491 | ||||||
1,511 | Northrop Grumman Corp. | 370 | ||||||
7,006 | Raytheon Co. | 1,074 | ||||||
61,776 | Safran SA, ADR | 1,846 | ||||||
22,177 | The Boeing Co. | 7,151 | ||||||
475 | TransDigm Group, Inc. (a) | 162 | ||||||
18,040 | United Technologies Corp. | 1,920 | ||||||
|
| |||||||
15,862 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.34% |
| |||||||
5,183 | C.H. Robinson Worldwide, Inc. | 436 | ||||||
4,946 | Expeditors International of Washington, Inc. | 337 | ||||||
10,132 | FedEx Corp. | 1,634 | ||||||
|
| |||||||
2,407 | ||||||||
|
| |||||||
Airlines — 0.04% |
| |||||||
5,393 | Southwest Airlines Co. | 250 | ||||||
12 | Spirit Airlines, Inc. (a) | 1 | ||||||
|
| |||||||
251 | ||||||||
|
| |||||||
Auto Components — 0.14% |
| |||||||
65,267 | Adient PLC | 983 | ||||||
|
| |||||||
Automobiles — 0.97% |
| |||||||
241,010 | Ford Motor Co. | 1,844 | ||||||
14,883 | Tesla Motors, Inc. (a) | 4,953 | ||||||
|
| |||||||
6,797 | ||||||||
|
| |||||||
Banks — 1.59% |
| |||||||
99,079 | Bank of America Corp. | 2,441 | ||||||
9,014 | Citigroup, Inc. | 469 | ||||||
6,190 | Citizens Financial Group, Inc. | 184 | ||||||
1,150 | Cullen/Frost Bankers, Inc. | 101 | ||||||
3,913 | First Republic Bank | 340 | ||||||
77,591 | JPMorgan Chase & Co. | 7,575 | ||||||
368 | SVB Financial Group (a) | 70 | ||||||
522 | Western Alliance Bancorp (a) | 21 | ||||||
|
| |||||||
11,201 | ||||||||
|
| |||||||
Beverages — 1.54% |
| |||||||
510 | Brown-Forman Corp., Class – A | 24 | ||||||
21,154 | Brown-Forman Corp., Class – B | 1,007 | ||||||
586 | Constellation Brands, Inc., Class – A | 94 | ||||||
43,329 | Keurig Dr Pepper, Inc. | 1,111 | ||||||
8,931 | Monster Beverage Corp. (a) | 440 | ||||||
31,459 | PepsiCo, Inc. | 3,476 | ||||||
98,400 | The Coca-Cola Co. | 4,658 | ||||||
|
| |||||||
10,810 | ||||||||
|
| |||||||
Biotechnology — 2.75% |
| |||||||
15,337 | AbbVie, Inc. | 1,414 | ||||||
10,748 | Agios Pharmaceuticals, Inc. (a) | 496 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) |
| |||||||
22,717 | Alexion Pharmaceuticals, Inc. (a) | $ | 2,212 | |||||
26,419 | Amgen, Inc. | 5,143 | ||||||
274 | Biogen Idec, Inc. (a) | 82 | ||||||
23,855 | BioMarin Pharmaceutical, Inc. (a) | 2,031 | ||||||
10,008 | Celgene Corp. (a) | 641 | ||||||
6,529 | Exact Sciences Corp. (a) | 412 | ||||||
6,805 | Gilead Sciences, Inc. | 426 | ||||||
7,181 | Intercept Pharmaceuticals, Inc. (a) | 724 | ||||||
10,660 | Ionis Pharmaceuticals, Inc. (a) | 576 | ||||||
14,463 | Neurocrine Biosciences, Inc. (a) | 1,033 | ||||||
2,019 | Regeneron Pharmaceuticals, Inc. (a) | 754 | ||||||
2,355 | Sarepta Therapeutics, Inc. (a) | 257 | ||||||
1,014 | Seattle Genetics, Inc. (a) | 57 | ||||||
18,705 | Vertex Pharmaceuticals, Inc. (a) | 3,100 | ||||||
|
| |||||||
19,358 | ||||||||
|
| |||||||
Building Products — 0.35% |
| |||||||
25,596 | A.O. Smith Corp. | 1,093 | ||||||
906 | Allegion PLC | 72 | ||||||
404 | Armstrong World Industries, Inc. | 24 | ||||||
5,752 | Lennox International, Inc. | 1,258 | ||||||
713 | Resideo Technologies, Inc. (a) | 15 | ||||||
|
| |||||||
2,462 | ||||||||
|
| |||||||
Capital Markets — 1.93% |
| |||||||
8,331 | Ameriprise Financial, Inc. | 870 | ||||||
2,554 | CBOE Holdings, Inc. | 250 | ||||||
6,242 | CME Group, Inc. | 1,174 | ||||||
1,258 | FactSet Research Systems, Inc. | 252 | ||||||
1,940 | Federated Investors, Inc., Class – B | 52 | ||||||
4,611 | Franklin Resources, Inc. | 137 | ||||||
9,804 | Goldman Sachs Group, Inc. | 1,637 | ||||||
2,695 | IntercontinentalExchange Group, Inc. | 203 | ||||||
82,996 | Invesco Ltd. | 1,389 | ||||||
5,371 | LPL Financial Holdings, Inc. | 328 | ||||||
349 | MarketAxess Holdings, Inc. | 74 | ||||||
1,577 | Moody’s Corp. | 221 | ||||||
390 | Morningstar, Inc. | 43 | ||||||
838 | MSCI, Inc. Common | 124 | ||||||
21,971 | S&P Global, Inc. | 3,733 | ||||||
2,729 | SEI Investments Co. | 126 | ||||||
21,658 | T. Rowe Price Group, Inc. | 1,998 | ||||||
7,304 | TD Ameritrade Holding Corp. | 358 | ||||||
8,409 | The Charles Schwab Corp. | 349 | ||||||
6,545 | Virtu Financial, Inc., Class – A | 169 | ||||||
176 | Waddell & Reed Financial, Inc., Class – A | 3 | ||||||
|
| |||||||
13,490 | ||||||||
|
| |||||||
Chemicals — 1.42% |
| |||||||
3,430 | Air Products & Chemicals, Inc. | 549 | ||||||
12,295 | Albemarle Corp. | 948 | ||||||
49,856 | Ecolab, Inc. | 7,345 | ||||||
999 | FMC Corp. | 74 | ||||||
1,601 | International Flavors & Fragrances, Inc. | 215 | ||||||
1,388 | LyondellBasell Industries N.V., Class – A | 115 | ||||||
1,773 | The Sherwin-Williams Co. | 698 | ||||||
|
| |||||||
9,944 | ||||||||
|
|
See accompanying notes to financial statements.
22
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Commercial Services & Supplies — 0.22% |
| |||||||
2,682 | Cintas Corp. | $ | 450 | |||||
6,652 | Copart, Inc. (a) | 318 | ||||||
1,301 | KAR Auction Services, Inc. | 62 | ||||||
4,338 | Rollins, Inc. | 157 | ||||||
3,677 | Waste Connections, Inc. | 273 | ||||||
3,522 | Waste Management, Inc. | 313 | ||||||
|
| |||||||
1,573 | ||||||||
|
| |||||||
Communications Equipment — 0.72% |
| |||||||
1,194 | Arista Networks, Inc. (a) | 252 | ||||||
101,754 | Cisco Systems, Inc. | 4,408 | ||||||
1,871 | F5 Networks, Inc. (a) | 303 | ||||||
153 | Motorola Solutions, Inc. | 18 | ||||||
377 | Palo Alto Networks, Inc. (a) | 71 | ||||||
|
| |||||||
5,052 | ||||||||
|
| |||||||
Construction & Engineering — 0.02% |
| |||||||
2,650 | Jacobs Engineering Group, Inc. | 155 | ||||||
374 | Quanta Services, Inc. | 11 | ||||||
|
| |||||||
166 | ||||||||
|
| |||||||
Consumer Finance — 0.17% |
| |||||||
95 | Credit Acceptance Corp. (a) | 36 | ||||||
135,033 | Navient Corp. | 1,190 | ||||||
|
| |||||||
1,226 | ||||||||
|
| |||||||
Containers & Packaging — 0.05% |
| |||||||
1,280 | AptarGroup, Inc. | 121 | ||||||
747 | Avery Dennison Corp. | 67 | ||||||
841 | Packaging Corporation of America | 70 | ||||||
2,077 | Sonoco Products Co. | 110 | ||||||
|
| |||||||
368 | ||||||||
|
| |||||||
Distributors — 0.05% |
| |||||||
2,966 | Genuine Parts Co. | 284 | ||||||
381 | Pool Corp. | 57 | ||||||
|
| |||||||
341 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.02% |
| |||||||
516 | Bright Horizons Family Solutions, Inc. (a) | 58 | ||||||
1,727 | Service Corporation International | 69 | ||||||
1,276 | ServiceMaster Global Holdings, Inc. (a) | 47 | ||||||
|
| |||||||
174 | ||||||||
|
| |||||||
Diversified Financial Services — 0.00% |
| |||||||
99 | Voya Financial, Inc. | 4 | ||||||
|
| |||||||
Diversified Telecommunication Services — 0.75% |
| |||||||
68,846 | AT&T, Inc. | 1,965 | ||||||
58,986 | Verizon Communications, Inc. | 3,316 | ||||||
|
| |||||||
5,281 | ||||||||
|
| |||||||
Electric Utilities — 0.35% |
| |||||||
31,815 | PG&E Corp. (a) | 756 | ||||||
61,036 | PPL Corp. | 1,729 | ||||||
|
| |||||||
2,485 | ||||||||
|
| |||||||
Electrical Equipment — 0.20% |
| |||||||
5,157 | AMETEK, Inc. | 349 | ||||||
13,448 | Emerson Electric Co. | 804 | ||||||
1,210 | Hubbell, Inc. | 120 | ||||||
931 | Rockwell Automation, Inc. | 140 | ||||||
|
| |||||||
1,413 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components — 0.22% |
| |||||||
8,822 | Amphenol Corp., Class – A | $ | 714 | |||||
1,465 | CDW Corporation of Delaware | 119 | ||||||
4,608 | Cognex Corp. | 177 | ||||||
1,015 | Dolby Laboratories, Inc., Class – A | 63 | ||||||
3,517 | FLIR Systems, Inc. | 153 | ||||||
340 | IPG Photonics Corp. (a) | 39 | ||||||
3,147 | National Instruments Corp. | 143 | ||||||
1,884 | Trimble Navigation Ltd. (a) | 62 | ||||||
493 | Zebra Technologies Corp., Class – A (a) | 79 | ||||||
|
| |||||||
1,549 | ||||||||
|
| |||||||
Energy Equipment & Services — 0.14% |
| |||||||
1,606 | Apergy Corp. (a) | 44 | ||||||
2 | Dril-Quip, Inc. (a) | — | ||||||
464,312 | Nabors Industries Ltd. | 929 | ||||||
|
| |||||||
973 | ||||||||
|
| |||||||
Entertainment — 1.40% |
| |||||||
38,676 | Activision Blizzard, Inc. | 1,801 | ||||||
29,604 | Netflix, Inc. (a) | 7,924 | ||||||
963 | Take-Two Interactive Software, Inc. (a) | 99 | ||||||
546 | Twenty-First Century Fox, Inc. | 26 | ||||||
199 | Twenty-First Century Fox, Inc., Class – B | 10 | ||||||
|
| |||||||
9,860 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 1.82% |
| |||||||
6,303 | American Tower Corp. | 997 | ||||||
237,958 | Colony Capital, Inc. | 1,114 | ||||||
217 | CoreCivic, Inc. | 4 | ||||||
7,072 | Coresite Realty Corp. | 617 | ||||||
13,262 | Crown Castle International Corp. | 1,441 | ||||||
16,745 | Equinix, Inc. | 5,903 | ||||||
804 | Equity Lifestyle Properties, Inc. | 78 | ||||||
11,741 | Outfront Media, Inc. | 213 | ||||||
107,036 | Senior Housing Properties Trust | 1,254 | ||||||
110,529 | SITE Centers Corp. | 1,224 | ||||||
|
| |||||||
12,845 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.63% |
| |||||||
30,572 | Costco Wholesale Corp. | 6,228 | ||||||
54 | Sprouts Farmers Market, Inc. (a) | 1 | ||||||
16,414 | Sysco Corp. | 1,029 | ||||||
4,764 | The Kroger Co. | 131 | ||||||
16,968 | Walgreens Boots Alliance, Inc. | 1,159 | ||||||
31,287 | Wal-Mart Stores, Inc. | 2,914 | ||||||
|
| |||||||
11,462 | ||||||||
|
| |||||||
Food Products — 0.99% |
| |||||||
3,603 | Flowers Foods, Inc. | 67 | ||||||
2,830 | Hershey Co. | 303 | ||||||
5,224 | Hormel Foods Corp. | 223 | ||||||
413 | Lamb Weston Holding, Inc. | 30 | ||||||
3,143 | McCormick & Company, Inc. | 438 | ||||||
142,800 | Mondelez International, Inc., Class – A | 5,716 | ||||||
2,332 | The J.M. Smucker Co. | 218 | ||||||
|
| |||||||
6,995 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 3.72% |
| |||||||
34,185 | Abbott Laboratories | 2,473 | ||||||
398 | Abiomed, Inc. (a) | 129 |
See accompanying notes to financial statements.
23
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Equipment & Supplies (continued) |
| |||||||
771 | Align Technology, Inc. (a) | $ | 161 | |||||
11,112 | Baxter International, Inc. | 731 | ||||||
40,719 | Becton, Dickinson & Co. | 9,176 | ||||||
13,310 | Boston Scientific Corp. (a) | 470 | ||||||
11,718 | Danaher Corp. | 1,208 | ||||||
813 | Dexcom, Inc. (a) | 97 | ||||||
12,781 | Edwards Lifesciences Corp. (a) | 1,958 | ||||||
584 | Hill-Rom Holdings, Inc. | 52 | ||||||
5,312 | IDEXX Laboratories, Inc. (a) | 988 | ||||||
7,109 | Intuitive Surgical, Inc. (a) | 3,406 | ||||||
28,126 | Medtronic PLC | 2,559 | ||||||
4,123 | ResMed, Inc. | 469 | ||||||
9,679 | Stryker Corp. | 1,517 | ||||||
85 | Teleflex, Inc. | 22 | ||||||
332 | The Cooper Companies, Inc. | 84 | ||||||
824 | Varex Imaging Corp. (a) | 20 | ||||||
2,841 | Varian Medical Systems, Inc. (a) | 322 | ||||||
3,346 | Zimmer Holdings, Inc. | 347 | ||||||
|
| |||||||
26,189 | ||||||||
|
| |||||||
Health Care Providers & Services — 3.90% |
| |||||||
5,215 | Anthem, Inc. | 1,370 | ||||||
209 | Centene Corp. (a) | 24 | ||||||
4,109 | Cigna Corp. | 780 | ||||||
29,490 | CVS Caremark Corp. | 1,932 | ||||||
10,019 | HCA Holdings, Inc. | 1,247 | ||||||
3,283 | Henry Schein, Inc. (a) | 258 | ||||||
1,265 | Humana, Inc. | 362 | ||||||
1,952 | Laboratory Corporation of America Holdings (a) | 247 | ||||||
4,595 | McKesson Corp. | 508 | ||||||
1,903 | MEDNAX, Inc. (a) | 63 | ||||||
2,799 | Quest Diagnostics, Inc. | 233 | ||||||
81,788 | UnitedHealth Group, Inc. | 20,375 | ||||||
389 | WellCare Health Plans, Inc. (a) | 92 | ||||||
|
| |||||||
27,491 | ||||||||
|
| |||||||
Health Care Technology — 0.42% |
| |||||||
51,381 | Cerner Corp. (a) | 2,694 | ||||||
2,596 | Veeva Systems, Inc. (a) | 232 | ||||||
|
| |||||||
2,926 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 2.70% |
| |||||||
3,616 | Chipotle Mexican Grill, Inc. (a) | 1,561 | ||||||
1,046 | Choice Hotels International, Inc. | 75 | ||||||
419 | Domino’s Pizza, Inc. | 104 | ||||||
874 | Dunkin’ Brands Group, Inc. | 56 | ||||||
28,768 | Marriott International, Inc., Class – A | 3,123 | ||||||
32,082 | McDonald’s Corp. | 5,697 | ||||||
111,554 | Starbucks Corp. | 7,184 | ||||||
1,730 | The Wendy’s Co. | 27 | ||||||
352 | Vail Resorts, Inc. | 74 | ||||||
7,868 | Yum China Holdings, Inc. | 264 | ||||||
8,846 | YUM! Brands, Inc. | 813 | ||||||
|
| |||||||
18,978 | ||||||||
|
| |||||||
Household Durables — 0.02% |
| |||||||
2,470 | Garmin Ltd. | 156 | ||||||
|
|
Shares | Security Description | Value (000) | ||||||
Household Products — 1.09% |
| |||||||
5,143 | Church & Dwight Co., Inc. | $ | 338 | |||||
17,683 | Colgate-Palmolive Co. | 1,052 | ||||||
7,129 | Kimberly-Clark Corp. | 812 | ||||||
30,424 | Spectrum Brands Holdings, Inc. | 1,285 | ||||||
2,554 | The Clorox Co. | 394 | ||||||
41,123 | The Procter & Gamble Co. | 3,781 | ||||||
|
| |||||||
7,662 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers — 0.00% |
| |||||||
541 | NRG Energy, Inc., Class – C | 21 | ||||||
|
| |||||||
Industrial Conglomerates — 0.94% |
| |||||||
12,543 | 3M Co. | 2,390 | ||||||
380,319 | General Electric Co. | 2,879 | ||||||
4,278 | Honeywell International, Inc. | 565 | ||||||
2,921 | Roper Industries, Inc. | 779 | ||||||
|
| |||||||
6,613 | ||||||||
|
| |||||||
Insurance — 0.58% |
| |||||||
7,992 | Aon PLC | 1,162 | ||||||
1,196 | Arthur J. Gallagher & Co. | 88 | ||||||
10,152 | Assurant, Inc. | 908 | ||||||
4,821 | Brown & Brown, Inc. | 133 | ||||||
171 | Erie Indemnity Co., Class – A | 23 | ||||||
15,337 | Marsh & McLennan Companies, Inc. | 1,223 | ||||||
5,631 | The Progressive Corp. | 340 | ||||||
2,499 | Torchmark Corp. | 186 | ||||||
|
| |||||||
4,063 | ||||||||
|
| |||||||
Interactive Media & Services — 6.39% |
| |||||||
11,857 | Alphabet, Inc., Class – A (a) | 12,390 | ||||||
16,081 | Alphabet, Inc., Class – C (a) | 16,654 | ||||||
74,435 | Facebook, Inc., Class – A (a) | 9,758 | ||||||
646 | Interactive Corp. (a) | 118 | ||||||
344 | Match Group, Inc. | 15 | ||||||
149,624 | Tencent Holdings Ltd., ADR | 5,906 | ||||||
2,273 | TripAdvisor, Inc. (a) | 123 | ||||||
|
| |||||||
44,964 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 5.57% |
| |||||||
39,690 | Alibaba Group Holding Ltd., ADR (a) | 5,440 | ||||||
17,182 | Amazon.com, Inc. (a) | 25,808 | ||||||
4,437 | Booking Holdings, Inc. (a) | 7,642 | ||||||
19,352 | Farfetch Ltd., Class – A (a) | 343 | ||||||
|
| |||||||
39,233 | ||||||||
|
| |||||||
IT Services — 10.28% |
| |||||||
12,842 | Accenture PLC, Class – A | 1,811 | ||||||
3,055 | Amdocs Ltd. | 179 | ||||||
77,466 | Automatic Data Processing, Inc. | 10,157 | ||||||
1,297 | Booz Allen Hamilton Holding Corp. | 58 | ||||||
3,472 | Broadridge Financial Solutions, Inc. | 334 | ||||||
12,000 | Cognizant Technology Solutions Corp. | 762 | ||||||
1,695 | Fidelity National Information Services, Inc. | 174 | ||||||
4,581 | First Data Corp. (a) | 77 | ||||||
4,092 | Fiserv, Inc. (a) | 301 | ||||||
49,940 | FleetCor Technologies, Inc. (a) | 9,275 | ||||||
3,976 | Global Payments, Inc. | 410 | ||||||
1,209 | GoDaddy, Inc., Class – A (a) | 79 |
See accompanying notes to financial statements.
24
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IT Services (continued) |
| |||||||
20,608 | International Business Machines Corp. | $ | 2,343 | |||||
2,207 | Jack Henry & Associates, Inc. | 279 | ||||||
67,024 | MasterCard, Inc., Class – A | 12,645 | ||||||
19,033 | Okta, Inc. (a) | 1,214 | ||||||
6,384 | Paychex, Inc. | 416 | ||||||
66,338 | PayPal Holdings, Inc. (a) | 5,578 | ||||||
20,070 | Square, Inc., Class – A (a) | 1,126 | ||||||
4,973 | Total System Services, Inc. | 404 | ||||||
978 | Twilio, Inc., Class – A (a) | 87 | ||||||
854 | VeriSign, Inc. (a) | 127 | ||||||
183,589 | Visa, Inc., Class – A | 24,224 | ||||||
7,490 | Western Union Co. | 128 | ||||||
304 | WEX, Inc. (a) | 43 | ||||||
2,790 | Worldpay, Inc., Class – A (a) | 213 | ||||||
|
| |||||||
72,444 | ||||||||
|
| |||||||
Leisure Products — 0.02% |
| |||||||
1,422 | Polaris Industries, Inc. | 109 | ||||||
|
| |||||||
Life Sciences Tools & Services — 1.14% |
| |||||||
754 | Agilent Technologies, Inc. | 51 | ||||||
1,141 | Bio-Techne Corp. | 165 | ||||||
440 | Bruker Biosciences Corp. | 13 | ||||||
447 | Charles River Laboratories International, Inc. (a) | 51 | ||||||
13,006 | Illumina, Inc. (a) | 3,901 | ||||||
817 | IQVIA Holdings, Inc. (a) | 95 | ||||||
785 | Mettler-Toledo International, Inc. (a) | 444 | ||||||
239 | PerkinElmer, Inc. | 19 | ||||||
7,679 | PRA Health Sciences, Inc. (a) | 706 | ||||||
9,568 | Thermo Electron Corp. | 2,141 | ||||||
2,297 | Waters Corp. (a) | 433 | ||||||
|
| |||||||
8,019 | ||||||||
|
| |||||||
Machinery — 1.09% |
| |||||||
15,539 | Allison Transmission Holdings, Inc. | 682 | ||||||
4,926 | Caterpillar, Inc. | 626 | ||||||
1,017 | Crane Co. | 73 | ||||||
16,520 | Deere & Co. | 2,463 | ||||||
2,856 | Donaldson Company, Inc. | 124 | ||||||
3,369 | Dover Corp. | 239 | ||||||
6,615 | Fortive Corp. | 448 | ||||||
1,569 | Graco, Inc. | 66 | ||||||
2,179 | IDEX Corp. | 275 | ||||||
8,257 | Illinois Tool Works, Inc. | 1,046 | ||||||
1,218 | Ingersoll-Rand PLC | 111 | ||||||
546 | Nordson, Inc. | 65 | ||||||
5,019 | Parker Hannifin Corp. | 749 | ||||||
716 | Snap-on, Inc. | 104 | ||||||
1,001 | The Toro Co. | 56 | ||||||
491 | WABCO Holdings, Inc. (a) | 53 | ||||||
2,031 | Wabtec Corp. | 143 | ||||||
4,438 | Xylem, Inc. | 296 | ||||||
|
| |||||||
7,619 | ||||||||
|
| |||||||
Marine — 0.01% |
| |||||||
1,159 | Kirby Corp. (a) | 78 | ||||||
|
|
Shares | Security Description | Value (000) | ||||||
Media — 0.06% |
| |||||||
2,004 | Discovery Communications, Inc., Class – C (a) | $ | 46 | |||||
959 | John Wiley & Sons, Inc., Class – A | 45 | ||||||
4,801 | Omnicom Group, Inc. | 352 | ||||||
|
| |||||||
443 | ||||||||
|
| |||||||
Metals & Mining — 0.18% |
| |||||||
369 | Steel Dynamics, Inc. | 11 | ||||||
67,377 | United States Steel Corp. | 1,229 | ||||||
|
| |||||||
1,240 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 1.19% |
| |||||||
89,686 | AGNC Investment Corp. | 1,573 | ||||||
166,422 | Annaly Capital Management, Inc. | 1,635 | ||||||
76,850 | Chimera Investment Corp. | 1,369 | ||||||
168,442 | MFA Financial, Inc. | 1,125 | ||||||
68,064 | Starwood Property Trust, Inc. | 1,342 | ||||||
102,187 | Two Harbors Investment Corp. | 1,312 | ||||||
|
| |||||||
8,356 | ||||||||
|
| |||||||
Multiline Retail — 0.31% |
| |||||||
6,687 | Dollar General Corp. | 723 | ||||||
4,517 | Dollar Tree, Inc. (a) | 408 | ||||||
3,752 | Kohl’s Corp. | 249 | ||||||
12,602 | Target Corp. | 832 | ||||||
|
| |||||||
2,212 | ||||||||
|
| |||||||
Multi-Utilities — 0.22% |
| |||||||
32,653 | SCANA Corp. | 1,560 | ||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.02% |
| |||||||
1,313 | Cheniere Energy, Inc. (a) | 78 | ||||||
533,583 | Chesapeake Energy Corp. (a) | 1,121 | ||||||
36,263 | Chevron Corp. | 3,945 | ||||||
194 | Concho Resources, Inc. (a) | 20 | ||||||
8,268 | EOG Resources, Inc. | 721 | ||||||
83,517 | EQT Corp. | 1,578 | ||||||
57,828 | Exxon Mobil Corp. | 3,943 | ||||||
49,856 | Murphy Oil Corp. | 1,166 | ||||||
11,537 | ONEOK, Inc. | 622 | ||||||
188,598 | QEP Resources, Inc. (a) | 1,062 | ||||||
|
| |||||||
14,256 | ||||||||
|
| |||||||
Personal Products — 0.54% |
| |||||||
1,486 | Herbalife Ltd. (a) | 88 | ||||||
1,220 | Nu Skin Enterprises, Inc., Class – A | 75 | ||||||
28,034 | �� | The Estee Lauder Companies, Inc., Class – A | 3,647 | |||||
|
| |||||||
3,810 | ||||||||
|
| |||||||
Pharmaceuticals — 3.65% |
| |||||||
103,453 | AstraZeneca PLC, ADR | 3,928 | ||||||
35,677 | Bristol-Myers Squibb Co. | 1,854 | ||||||
19,396 | Eli Lilly & Co. | 2,245 | ||||||
40,085 | Johnson & Johnson | 5,173 | ||||||
86,808 | Merck & Co., Inc. | 6,632 | ||||||
56,590 | Novo Nordisk A/S, Class – B, ADR | 2,607 | ||||||
65,885 | Pfizer, Inc. | 2,876 | ||||||
4,788 | Zoetis, Inc. | 410 | ||||||
|
| |||||||
25,725 | ||||||||
|
|
See accompanying notes to financial statements.
25
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Professional Services — 0.26% |
| |||||||
331 | CoStar Group, Inc. (a) | $ | 112 | |||||
2,353 | Equifax, Inc. | 219 | ||||||
4,977 | IHS Markit Ltd. (a) | 239 | ||||||
4,001 | Robert Half International, Inc. | 229 | ||||||
2,957 | The Dun & Bradstreet Corp. | 422 | ||||||
1,724 | TransUnion Holding Company, Inc. | 98 | ||||||
4,817 | Versik Analytics, Inc., Class – A (a) | 525 | ||||||
|
| |||||||
1,844 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.17% |
| |||||||
1,272 | CBRE Group, Inc., Class – A (a) | 51 | ||||||
76,192 | Realogy Holdings Corp. | 1,118 | ||||||
|
| |||||||
1,169 | ||||||||
|
| |||||||
Road & Rail — 1.30% |
| |||||||
57,529 | CSX Corp. | 3,574 | ||||||
2,591 | Hunt (JB) Transportation Services, Inc. | 241 | ||||||
1,303 | Landstar System, Inc. | 125 | ||||||
375 | Old Dominion Freight Line, Inc. | 46 | ||||||
37,355 | Union Pacific Corp. | 5,164 | ||||||
|
| |||||||
9,150 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 2.71% |
| |||||||
96,872 | Advanced Micro Devices, Inc. (a) | 1,788 | ||||||
7,262 | Analog Devices, Inc. | 623 | ||||||
6,209 | Applied Materials, Inc. | 203 | ||||||
13,492 | Broadcom, Inc. | 3,431 | ||||||
94,338 | Intel Corp. | 4,428 | ||||||
1,378 | KLA-Tencor Corp. | 123 | ||||||
1,153 | Lam Research Corp. | 157 | ||||||
28,189 | Marvell Technology Group Ltd. | 456 | ||||||
2,642 | Maxim Integrated Products, Inc. | 134 | ||||||
1,854 | Microchip Technology, Inc. | 133 | ||||||
47,984 | Micron Technology, Inc. (a) | 1,523 | ||||||
23,940 | NVIDIA Corp. | 3,196 | ||||||
3,857 | ON Semiconductor Corp. (a) | 64 | ||||||
30,091 | Qualcomm, Inc. | 1,712 | ||||||
9,164 | Texas Instruments, Inc. | 866 | ||||||
2,371 | Versum Materials, Inc. | 66 | ||||||
2,830 | Xilinx, Inc. | 241 | ||||||
|
| |||||||
19,144 | ||||||||
|
| |||||||
Software — 13.80% |
| |||||||
28,920 | Adobe Systems, Inc. (a) | 6,543 | ||||||
2,598 | ANSYS, Inc. (a) | 371 | ||||||
908 | Atlassian Corp. PLC, Class – A (a) | 81 | ||||||
73,083 | Autodesk, Inc. (a) | 9,399 | ||||||
3,967 | Citrix Systems, Inc. | 406 | ||||||
1,982 | Dell Technologies, Inc., Class – V (a) | 159 | ||||||
1,303 | Fortinet, Inc. (a) | 92 | ||||||
5,843 | Intuit, Inc. | 1,150 | ||||||
328,785 | Microsoft Corp. | 33,396 | ||||||
63,347 | Oracle Corp. | 2,860 | ||||||
1,114 | PTC, Inc. (a) | 92 | ||||||
67,922 | Red Hat, Inc. (a) | 11,930 | ||||||
120,800 | Salesforce.com, Inc. (a) | 16,547 | ||||||
66,571 | SAP AG, ADR | 6,627 |
Shares | Security Description | Value (000) | ||||||
Software (continued) |
| |||||||
8,185 | ServiceNow, Inc. (a) | $ | 1,457 | |||||
21,330 | Splunk, Inc. (a) | 2,236 | ||||||
1,505 | SS&C Technologies Holdings, Inc. | 68 | ||||||
151 | Synopsys, Inc. (a) | 13 | ||||||
615 | Tableau Software, Inc., Class – A (a) | 74 | ||||||
2,326 | VMware, Inc., Class – A | 319 | ||||||
21,620 | Workday, Inc., Class – A (a) | 3,452 | ||||||
|
| |||||||
97,272 | ||||||||
|
| |||||||
Specialty Retail — 4.10% |
| |||||||
1,357 | Aaron’s, Inc. | 57 | ||||||
1,475 | Advance Auto Parts, Inc. | 232 | ||||||
597 | AutoZone, Inc. (a) | 500 | ||||||
6,005 | Best Buy Co., Inc. | 318 | ||||||
376 | Burlington Stores, Inc. (a) | 61 | ||||||
1,902 | Dick’s Sporting Goods, Inc. | 59 | ||||||
77,792 | Lowe’s Companies, Inc. | 7,185 | ||||||
1,946 | O’Reilly Automotive, Inc. (a) | 670 | ||||||
9,045 | Ross Stores, Inc. | 753 | ||||||
28,918 | The Home Depot, Inc. | 4,969 | ||||||
182,143 | The TJX Companies, Inc. | 8,150 | ||||||
2,234 | Tiffany & Co. | 180 | ||||||
1,256 | Tractor Supply Co. | 105 | ||||||
22,640 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 5,543 | ||||||
1,836 | Urban Outfitters, Inc. (a) | 61 | ||||||
|
| |||||||
28,843 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 3.02% |
| |||||||
133,850 | Apple, Inc. | 21,113 | ||||||
2,245 | NetApp, Inc. | 134 | ||||||
|
| |||||||
21,247 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 1.95% |
| |||||||
48,291 | Kering, ADR | 2,258 | ||||||
10,539 | Lululemon Athletica, Inc. (a) | 1,282 | ||||||
125,324 | NIKE, Inc., Class – B | 9,291 | ||||||
1,252 | Ralph Lauren Corp. | 130 | ||||||
5,429 | Tapestry, Inc. | 183 | ||||||
3,743 | Under Armour, Inc., Class – A (a) | 66 | ||||||
3,770 | Under Armour, Inc., Class – C (a) | 61 | ||||||
6,722 | V.F. Corp. | 480 | ||||||
|
| |||||||
13,751 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.20% |
| |||||||
146,301 | New York Community Bancorp, Inc. | 1,377 | ||||||
|
| |||||||
Tobacco — 0.95% |
| |||||||
72,651 | Altria Group, Inc. | 3,588 | ||||||
46,118 | Philip Morris International, Inc. | 3,079 | ||||||
|
| |||||||
6,667 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.12% |
| |||||||
7,224 | Fastenal Co. | 377 | ||||||
1,141 | MSC Industrial Direct Co., Inc., Class – A | 88 | ||||||
1,221 | W.W. Grainger, Inc. | 345 | ||||||
|
| |||||||
810 | ||||||||
|
| |||||||
Total Common Stocks | 680,773 | |||||||
|
|
See accompanying notes to financial statements.
26
Table of Contents
HC CAPITAL TRUST
The Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Investment Company — 3.00% |
| |||||||
21,143,286 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (b) | $ | 21,143 | |||||
|
| |||||||
Total Investment Company | 21,143 | |||||||
|
| |||||||
Total Investments | 701,916 | |||||||
Other assets in excess | 2,201 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 704,117 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Representsnon-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Growth Equity Portfolio | Jennison Associates, LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||
Common Stocks | 25.75 | % | 70.94 | % | — | 96.69 | % | |||||||||
Investment Company | — | 2.60 | % | 0.40 | % | 3.00 | % | |||||||||
Other Assets (Liabilities) | 0.03 | % | 0.28 | % | 0.00 | % | 0.31 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 25.78 | % | 73.82 | % | 0.40 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
E-Mini Nasdaq 100 Future | 72 | 3/15/19 | $ | 9,120 | $ | 33 | ||||||||
E-Mini S&P 500 Future | 73 | 3/15/19 | 9,144 | 125 | ||||||||||
E-Mini S&P Midcap 400 Future | 7 | 3/15/19 | 1,163 | (5 | ) | |||||||||
|
|
|
| |||||||||||
$ | 19,427 | $ | 153 | |||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | 158 | |||||||||||
Total Unrealized Depreciation |
| (5 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 153 | |||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
27
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 89.81% |
| |||||||
Aerospace & Defense — 2.86% |
| |||||||
1,576 | Arconic, Inc. | $ | 27 | |||||
4,063 | BWX Technologies, Inc. | 155 | ||||||
284 | Curtiss-Wright Corp. | 29 | ||||||
5,243 | General Dynamics Corp. | 824 | ||||||
4,741 | Harris Corp. | 638 | ||||||
1,582 | HEICO Corp. | 123 | ||||||
3,095 | HEICO Corp., Class – A | 195 | ||||||
961 | Hexcel Corp. | 55 | ||||||
1,463 | Huntington Ingalls Industries, Inc. | 278 | ||||||
290 | L3 Technologies, Inc. | 50 | ||||||
9,229 | Lockheed Martin Corp. | 2,417 | ||||||
6,552 | Northrop Grumman Corp. | 1,605 | ||||||
11,636 | Raytheon Co. | 1,784 | ||||||
86,231 | Safran SA, ADR | 2,577 | ||||||
4,198 | Spirit Aerosystems Holdings, Inc., Class – A | 303 | ||||||
128 | Teledyne Technologies, Inc. (a) | 27 | ||||||
50,036 | Textron, Inc. | 2,301 | ||||||
58,593 | The Boeing Co. | 18,896 | ||||||
1,935 | TransDigm Group, Inc. (a) | 658 | ||||||
3,004 | United Technologies Corp. | 320 | ||||||
|
| |||||||
33,262 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.48% |
| |||||||
5,508 | C.H. Robinson Worldwide, Inc. | 463 | ||||||
6,933 | Expeditors International of Washington, Inc. | 472 | ||||||
10,008 | FedEx Corp. | 1,615 | ||||||
28,068 | United Parcel Service, Inc., Class – B | 2,737 | ||||||
5,078 | XPO Logistics, Inc. (a) | 290 | ||||||
|
| |||||||
5,577 | ||||||||
|
| |||||||
Airlines — 0.11% |
| |||||||
438 | Alaska Air Group, Inc. | 27 | ||||||
1,507 | American Airlines Group, Inc. | 48 | ||||||
116 | Copa Holdings SA, Class – A | 9 | ||||||
8,080 | Delta Air Lines, Inc. | 403 | ||||||
1,151 | JetBlue Airways Corp. (a) | 18 | ||||||
15,506 | Southwest Airlines Co. | 721 | ||||||
891 | United Continental Holdings, Inc. (a) | 75 | ||||||
|
| |||||||
1,301 | ||||||||
|
| |||||||
Auto Components — 0.08% |
| |||||||
350 | Adient PLC | 5 | ||||||
9,391 | Aptiv PLC | 578 | ||||||
762 | BorgWarner, Inc. | 26 | ||||||
1,842 | Garrett Motion, Inc. (a) | 23 | ||||||
7,910 | Gentex Corp. | 160 | ||||||
873 | Goodyear Tire & Rubber Co. | 18 | ||||||
546 | Lear Corp. | 67 | ||||||
849 | Visteon Corp. (a) | 51 | ||||||
|
| |||||||
928 | ||||||||
|
| |||||||
Automobiles — 0.77% |
| |||||||
14,231 | Ford Motor Co. | 109 | ||||||
4,776 | General Motors Co. | 160 | ||||||
607 | Harley-Davidson, Inc. | 21 | ||||||
25,709 | Tesla Motors, Inc. (a) | 8,555 | ||||||
1,752 | Thor Industries, Inc. | 91 | ||||||
|
| |||||||
8,936 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Banks — 2.89% |
| |||||||
625 | Associated Banc-Corp. | $ | 12 | |||||
239,472 | Bank of America Corp. | 5,900 | ||||||
155 | Bank of Hawaii Corp. | 10 | ||||||
450 | Bank OZK | 10 | ||||||
386 | BankUnited, Inc. | 12 | ||||||
2,840 | BB&T Corp. | 123 | ||||||
18,236 | BOK Financial Corp. | 1,337 | ||||||
417 | CIT Group, Inc. | 16 | ||||||
9,063 | Citigroup, Inc. | 472 | ||||||
1,752 | Citizens Financial Group, Inc. | 52 | ||||||
34,363 | Comerica, Inc. | 2,359 | ||||||
38,231 | Commerce Bancshares, Inc. | 2,155 | ||||||
23,364 | Cullen/Frost Bankers, Inc. | 2,055 | ||||||
977 | East West Bancorp, Inc. | 43 | ||||||
2,434 | Fifth Third Bancorp | 57 | ||||||
30 | First Citizens BancShares, Inc., Class – A | 11 | ||||||
398 | First Hawaiian, Inc. | 9 | ||||||
1,193 | First Horizon National Corp. | 16 | ||||||
593 | First Republic Bank | 52 | ||||||
1,194 | FNB Corp. | 12 | ||||||
3,991 | Huntington Bancshares, Inc. | 48 | ||||||
120,772 | JPMorgan Chase & Co. | 11,789 | ||||||
3,850 | KeyCorp | 57 | ||||||
528 | M&T Bank Corp. | 76 | ||||||
453 | PacWest Bancorp | 15 | ||||||
1,362 | People’s United Financial, Inc. | 20 | ||||||
1,462 | Pinnacle Financial Partners, Inc. | 67 | ||||||
1,693 | PNC Financial Services Group, Inc. | 198 | ||||||
43,968 | Popular, Inc. | 2,076 | ||||||
246 | Prosperity Bancshares, Inc. | 15 | ||||||
4,016 | Regions Financial Corp. | 54 | ||||||
1,457 | Signature Bank | 150 | ||||||
824 | Sterling Bancorp/DE | 14 | ||||||
1,693 | SunTrust Banks, Inc. | 85 | ||||||
1,704 | SVB Financial Group (a) | 324 | ||||||
752 | Synovus Financial Corp. | 24 | ||||||
610 | TCF Financial Corp. | 12 | ||||||
1,302 | Texas Capital Bancshares, Inc. (a) | 67 | ||||||
5,608 | U.S. Bancorp | 256 | ||||||
810 | Umpqua Holdings Corp. | 13 | ||||||
337 | Webster Financial Corp. | 17 | ||||||
27,584 | Wells Fargo & Co. | 1,271 | ||||||
2,559 | Western Alliance Bancorp (a) | 101 | ||||||
206 | Wintrust Financial Corp. | 14 | ||||||
51,308 | Zions Bancorp | 2,090 | ||||||
|
| |||||||
33,566 | ||||||||
|
| |||||||
Beverages — 1.35% |
| |||||||
2,221 | Brown-Forman Corp., Class – A | 105 | ||||||
11,280 | Brown-Forman Corp., Class – B | 537 | ||||||
13,235 | Constellation Brands, Inc., Class – A | 2,128 | ||||||
7,338 | Keurig Dr Pepper, Inc. | 188 | ||||||
632 | Molson Coors Brewing Co., Class – B | 35 | ||||||
15,982 | Monster Beverage Corp. (a) | 787 | ||||||
51,543 | PepsiCo, Inc. | 5,695 | ||||||
129,639 | The Coca-Cola Co. | 6,139 | ||||||
|
| |||||||
15,614 | ||||||||
|
|
See accompanying notes to financial statements.
28
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Biotechnology — 4.09% |
| |||||||
61,559 | AbbVie, Inc. | $ | 5,675 | |||||
1,944 | Agios Pharmaceuticals, Inc. (a) | 90 | ||||||
37,611 | Alexion Pharmaceuticals, Inc. (a) | 3,662 | ||||||
6,290 | Alkermes PLC (a) | 186 | ||||||
3,261 | Alnylam Pharmaceuticals, Inc. (a) | 238 | ||||||
44,536 | Amgen, Inc. | 8,669 | ||||||
17,452 | Biogen Idec, Inc. (a) | 5,252 | ||||||
38,535 | BioMarin Pharmaceutical, Inc. (a) | 3,281 | ||||||
1,516 | Bluebird Bio, Inc. (a) | 150 | ||||||
46,290 | Celgene Corp. (a) | 2,967 | ||||||
4,741 | Exact Sciences Corp. (a) | 299 | ||||||
11,991 | Exelixis, Inc. (a) | 236 | ||||||
90,449 | Gilead Sciences, Inc. | 5,658 | ||||||
7,169 | Incyte Corp. (a) | 456 | ||||||
5,096 | Ionis Pharmaceuticals, Inc. (a) | 275 | ||||||
3,643 | Neurocrine Biosciences, Inc. (a) | 260 | ||||||
3,220 | Regeneron Pharmaceuticals, Inc. (a) | 1,203 | ||||||
1,867 | Sage Therapeutics, Inc. (a) | 179 | ||||||
2,708 | Sarepta Therapeutics, Inc. (a) | 296 | ||||||
4,372 | Seattle Genetics, Inc. (a) | 248 | ||||||
1,581 | Tesaro, Inc. (a) | 117 | ||||||
158 | United Therapeutics Corp. (a) | 17 | ||||||
48,396 | Vertex Pharmaceuticals, Inc. (a) | 8,019 | ||||||
|
| |||||||
47,433 | ||||||||
|
| |||||||
Building Products — 0.12% |
| |||||||
5,812 | A.O. Smith Corp. | 248 | ||||||
3,159 | Allegion PLC | 252 | ||||||
1,842 | Armstrong World Industries, Inc. | 107 | ||||||
2,613 | Fortune Brands Home & Security, Inc. | 99 | ||||||
3,369 | Johnson Controls International PLC | 100 | ||||||
1,333 | Lennox International, Inc. | 292 | ||||||
8,983 | Masco Corp. | 263 | ||||||
403 | Owens Corning, Inc. | 18 | ||||||
3,280 | Resideo Technologies, Inc. (a) | 67 | ||||||
301 | USG Corp. | 13 | ||||||
|
| |||||||
1,459 | ||||||||
|
| |||||||
Capital Markets — 2.23% |
| |||||||
196 | Affiliated Managers Group, Inc. | 19 | ||||||
1,344 | Ameriprise Financial, Inc. | 140 | ||||||
3,372 | Bank of New York Mellon Corp. | 159 | ||||||
1,006 | BGC Partners, Inc., Class – A | 5 | ||||||
450 | BlackRock, Inc., Class – A | 177 | ||||||
4,143 | CBOE Holdings, Inc. | 405 | ||||||
2,848 | CME Group, Inc. | 536 | ||||||
3,186 | E*Trade Financial Corp. | 140 | ||||||
4,727 | Eaton Vance Corp. | 166 | ||||||
1,653 | Evercore Partners, Inc., Class – A | 118 | ||||||
1,481 | FactSet Research Systems, Inc. | 296 | ||||||
1,147 | Franklin Resources, Inc. | 34 | ||||||
14,649 | Goldman Sachs Group, Inc. | 2,447 | ||||||
2,666 | Interactive Brokers Group, Inc., Class – A | 146 | ||||||
12,923 | IntercontinentalExchange Group, Inc. | 973 | ||||||
1,478 | Invesco Ltd. | 25 | ||||||
4,377 | Lazard Ltd., Class – A | 162 |
Shares | Security Description | Value (000) | ||||||
Capital Markets (continued) |
| |||||||
316 | Legg Mason, Inc. | $ | 8 | |||||
3,613 | LPL Financial Holdings, Inc. | 221 | ||||||
1,499 | MarketAxess Holdings, Inc. | 317 | ||||||
6,733 | Moody’s Corp. | 943 | ||||||
4,486 | Morgan Stanley | 178 | ||||||
6,943 | Morningstar, Inc. | 763 | ||||||
3,470 | MSCI, Inc. Common | 512 | ||||||
31,273 | Northern Trust Corp. | 2,614 | ||||||
1,910 | Raymond James Financial, Inc. | 142 | ||||||
46,281 | S&P Global, Inc. | 7,866 | ||||||
5,457 | SEI Investments Co. | 252 | ||||||
2,211 | State Street Corp. | 139 | ||||||
35,771 | T. Rowe Price Group, Inc. | 3,303 | ||||||
11,359 | TD Ameritrade Holding Corp. | 556 | ||||||
48,588 | The Charles Schwab Corp. | 2,018 | ||||||
421 | The Nasdaq OMX Group, Inc. | 34 | ||||||
1,449 | Virtu Financial, Inc., Class – A | 37 | ||||||
|
| |||||||
25,851 | ||||||||
|
| |||||||
Chemicals — 0.96% |
| |||||||
811 | Air Products & Chemicals, Inc. | 130 | ||||||
17,099 | Albemarle Corp. | 1,317 | ||||||
230 | Ashland Global Holdings, Inc. | 16 | ||||||
3,704 | Axalta Coating Systems Ltd. (a) | 87 | ||||||
226 | Cabot Corp. | 10 | ||||||
3,690 | Celanese Corp., Series A | 332 | ||||||
849 | CF Industries Holdings, Inc. | 37 | ||||||
8,470 | DowDuPont, Inc. | 453 | ||||||
514 | Eastman Chemical Co. | 38 | ||||||
5,164 | Ecolab, Inc. | 761 | ||||||
2,422 | FMC Corp. | 179 | ||||||
805 | Huntsman Corp. | 16 | ||||||
2,140 | International Flavors & Fragrances, Inc. | 287 | ||||||
14,188 | Linde PLC | 2,214 | ||||||
36,198 | LyondellBasell Industries N.V., Class – A | 3,010 | ||||||
306 | NewMarket Corp. | 126 | ||||||
619 | Olin Corp. | 12 | ||||||
4,963 | Platform Specialty Products Corp. (a) | 51 | ||||||
1,434 | PPG Industries, Inc. | 147 | ||||||
1,345 | RPM International, Inc. | 79 | ||||||
7,214 | The Chemours Co. | 204 | ||||||
1,279 | The Mosaic Co. | 37 | ||||||
953 | The ScottsMiracle-Gro Co. | 59 | ||||||
3,380 | The Sherwin-Williams Co. | 1,329 | ||||||
706 | Valvoline, Inc. | 14 | ||||||
2,148 | W.R. Grace & Co. | 139 | ||||||
1,354 | Westlake Chemical Corp. | 90 | ||||||
|
| |||||||
11,174 | ||||||||
|
| |||||||
Commercial Services & Supplies — 0.29% |
| |||||||
174 | ADT, Inc. | 1 | ||||||
3,523 | Cintas Corp. | 592 | ||||||
191 | Clean Harbors, Inc. (a) | 9 | ||||||
8,290 | Copart, Inc. (a) | 396 | ||||||
14,534 | KAR Auction Services, Inc. | 694 | ||||||
1,307 | Republic Services, Inc., Class – A | 94 | ||||||
5,928 | Rollins, Inc. | 214 |
See accompanying notes to financial statements.
29
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Commercial Services & Supplies (continued) |
| |||||||
311 | Stericycle, Inc. (a) | $ | 11 | |||||
15,024 | Waste Management, Inc. | 1,338 | ||||||
|
| |||||||
3,349 | ||||||||
|
| |||||||
Communications Equipment — 0.82% |
| |||||||
2,308 | Arista Networks, Inc. (a) | 486 | ||||||
626 | Arris International PLC (a) | 19 | ||||||
125,173 | Cisco Systems, Inc. | 5,423 | ||||||
704 | Commscope Holding, Inc. (a) | 12 | ||||||
179 | EchoStar Corp., Class – A (a) | 7 | ||||||
16,563 | F5 Networks, Inc. (a) | 2,684 | ||||||
1,244 | Juniper Networks, Inc. | 33 | ||||||
1,267 | Motorola Solutions, Inc. | 146 | ||||||
3,627 | Palo Alto Networks, Inc. (a) | 683 | ||||||
752 | Ubiquiti Networks, Inc. | 75 | ||||||
|
| |||||||
9,568 | ||||||||
|
| |||||||
Construction & Engineering — 0.01% |
| |||||||
589 | AECOM Technology Corp. (a) | 16 | ||||||
80 | Arcosa, Inc. (a) | 2 | ||||||
525 | Fluor Corp. | 17 | ||||||
472 | Jacobs Engineering Group, Inc. | 28 | ||||||
2,153 | Quanta Services, Inc. | 64 | ||||||
83 | Valmont Industries, Inc. | 9 | ||||||
|
| |||||||
136 | ||||||||
|
| |||||||
Construction Materials — 0.09% |
| |||||||
1,594 | Eagle Materials, Inc., Class – A | 97 | ||||||
2,373 | Martin Marietta Materials, Inc. | 408 | ||||||
4,950 | Vulcan Materials Co. | 489 | ||||||
|
| |||||||
994 | ||||||||
|
| |||||||
Consumer Finance — 0.43% |
| |||||||
1,541 | Ally Financial, Inc. | 35 | ||||||
20,377 | American Express Co. | 1,942 | ||||||
3,114 | Capital One Financial Corp. | 235 | ||||||
425 | Credit Acceptance Corp. (a) | 162 | ||||||
38,623 | Discover Financial Services | 2,279 | ||||||
972 | Navient Corp. | 9 | ||||||
286 | OneMain Holdings, Inc. (a) | 7 | ||||||
949 | Santander Consumer USA Holdings, Inc. | 17 | ||||||
1,607 | SLM Corp. (a) | 13 | ||||||
12,036 | Synchrony Financial | 282 | ||||||
|
| |||||||
4,981 | ||||||||
|
| |||||||
Containers & Packaging — 0.13% |
| |||||||
230 | AptarGroup, Inc. | 22 | ||||||
30 | Ardagh Group SA | — | ||||||
3,577 | Avery Dennison Corp. | 320 | ||||||
1,234 | Ball Corp. | 57 | ||||||
335 | Bemis Company, Inc. | 15 | ||||||
2,754 | Berry Plastics Group, Inc. (a) | 131 | ||||||
5,211 | Crown Holdings, Inc. (a) | 217 | ||||||
2,667 | Graphic Packaging Holding Co. | 28 | ||||||
3,123 | International Paper Co. | 126 | ||||||
593 | Owens-Illinois, Inc. (a) | 10 | ||||||
3,820 | Packaging Corporation of America | 319 | ||||||
3,781 | Sealed Air Corp. | 132 |
Shares | Security Description | Value (000) | ||||||
Containers & Packaging (continued) |
| |||||||
1,437 | Silgan Holdings | $ | 34 | |||||
368 | Sonoco Products Co. | 20 | ||||||
926 | WestRock Co. | 35 | ||||||
|
| |||||||
1,466 | ||||||||
|
| |||||||
Distributors — 0.03% |
| |||||||
529 | Genuine Parts Co. | 51 | ||||||
3,076 | LKQ Corp. (a) | 73 | ||||||
1,606 | Pool Corp. | 239 | ||||||
|
| |||||||
363 | ||||||||
|
| |||||||
Diversified Consumer Services — 0.26% |
| |||||||
1,924 | Bright Horizons Family Solutions, Inc. (a) | 214 | ||||||
2,783 | Frontdoor, Inc. (a) | 74 | ||||||
15 | Graham Holdings Co. | 10 | ||||||
1,941 | Grand Canyon Education, Inc. (a) | 187 | ||||||
85,294 | H&R Block, Inc. | 2,163 | ||||||
3,516 | Service Corporation International | 142 | ||||||
5,551 | ServiceMaster Global Holdings, Inc. (a) | 204 | ||||||
|
| |||||||
2,994 | ||||||||
|
| |||||||
Diversified Financial Services — 0.55% |
| |||||||
719 | AXA Equitable Holdings, Inc. | 12 | ||||||
31,141 | Berkshire Hathaway, Inc., Class – B (a) | 6,358 | ||||||
1,093 | Jefferies Financial Group, Inc. | 19 | ||||||
942 | Voya Financial, Inc. | 38 | ||||||
|
| |||||||
6,427 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.30% |
| |||||||
48,726 | AT&T, Inc. | $ | 1,391 | |||||
3,485 | CenturyLink, Inc. | 53 | ||||||
32,552 | Verizon Communications, Inc. | 1,829 | ||||||
9,017 | Zayo Group Holdings, Inc. (a) | 206 | ||||||
|
| |||||||
3,479 | ||||||||
|
| |||||||
Electric Utilities — 0.32% |
| |||||||
843 | Alliant Energy Corp. | 36 | ||||||
1,799 | American Electric Power, Inc. | 134 | ||||||
40,493 | Avangrid, Inc. | 2,027 | ||||||
2,601 | Duke Energy Corp. | 224 | ||||||
1,158 | Edison International | 66 | ||||||
659 | Entergy Corp. | 57 | ||||||
987 | Evergy, Inc. | 56 | ||||||
1,154 | Eversource Energy | 75 | ||||||
3,518 | Exelon Corp. | 159 | ||||||
1,771 | FirstEnergy Corp. | 67 | ||||||
400 | Hawaiian Electric Industries, Inc. | 15 | ||||||
1,759 | NextEra Energy, Inc. | 306 | ||||||
726 | OGE Energy Corp. | 28 | ||||||
1,885 | PG&E Corp. (a) | 45 | ||||||
407 | Pinnacle West Capital Corp. | 35 | ||||||
2,655 | PPL Corp. | 75 | ||||||
3,793 | The Southern Co. | 167 | ||||||
1,854 | Xcel Energy, Inc. | 91 | ||||||
|
| |||||||
3,663 | ||||||||
|
| |||||||
Electrical Equipment — 0.44% |
| |||||||
147 | Acuity Brands, Inc. | 17 | ||||||
2,465 | AMETEK, Inc. | 167 | ||||||
1,593 | Eaton Corp. PLC | 109 |
See accompanying notes to financial statements.
30
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Electrical Equipment (continued) |
| |||||||
61,180 | Emerson Electric Co. | $ | 3,656 | |||||
119 | GrafTech International Ltd. | 1 | ||||||
1,576 | Hubbell, Inc. | 157 | ||||||
595 | nVent Electric PLC | 13 | ||||||
160 | Regal-Beloit Corp. | 11 | ||||||
4,907 | Rockwell Automation, Inc. | 738 | ||||||
4,031 | Sensata Technologies Holding PLC (a) | 181 | ||||||
|
| |||||||
5,050 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 0.25% |
| |||||||
11,935 | Amphenol Corp., Class – A | 967 | ||||||
317 | Arrow Electronics, Inc. (a) | 22 | ||||||
432 | Avnet, Inc. | 16 | ||||||
5,892 | CDW Corporation of Delaware | 478 | ||||||
6,762 | Cognex Corp. | 261 | ||||||
691 | Coherent, Inc. (a) | 73 | ||||||
2,907 | Corning, Inc. | 88 | ||||||
233 | Dolby Laboratories, Inc., Class – A | 14 | ||||||
818 | FLIR Systems, Inc. | 36 | ||||||
1,473 | IPG Photonics Corp. (a) | 167 | ||||||
609 | Jabil Circuit, Inc. | 15 | ||||||
682 | Keysight Technologies, Inc. (a) | 42 | ||||||
839 | Littelfuse, Inc. | 144 | ||||||
3,739 | National Instruments Corp. | 170 | ||||||
908 | Trimble Navigation Ltd. (a) | 30 | ||||||
2,157 | Zebra Technologies Corp., Class – A (a) | 343 | ||||||
|
| |||||||
2,866 | ||||||||
|
| |||||||
Energy Equipment & Services — 0.12% |
| |||||||
294 | Apergy Corp. (a) | 8 | ||||||
1,834 | Baker Hughes, Inc. | 39 | ||||||
34,979 | Halliburton Co. | 930 | ||||||
393 | Helmerich & Payne, Inc. | 19 | ||||||
561 | Nabors Industries Ltd. | 1 | ||||||
1,414 | National Oilwell Varco, Inc. | 36 | ||||||
811 | Patterson-UTI Energy, Inc. | 8 | ||||||
376 | RPC, Inc. | 4 | ||||||
10,996 | Schlumberger Ltd. | 397 | ||||||
1,586 | Transocean Ltd. (a) | 11 | ||||||
1,637 | Weatherford International PLC (a) | 1 | ||||||
|
| |||||||
1,454 | ||||||||
|
| |||||||
Entertainment — 2.56% |
| |||||||
83,125 | Activision Blizzard, Inc. | 3,871 | ||||||
396 | Cinemark Holdings, Inc. | 14 | ||||||
12,062 | Electronic Arts, Inc. (a) | 952 | ||||||
41 | Liberty Media Group, Class – A (a) | 1 | ||||||
727 | Liberty Media Group, Class – C (a) | 22 | ||||||
327 | Lions Gate Entertainment Corp., Class – A | 5 | ||||||
854 | Lions Gate Entertainment Corp., Class – B | 13 | ||||||
5,627 | Live Nation Entertainment, Inc. (a) | 277 | ||||||
54,888 | Netflix, Inc. (a) | 14,692 | ||||||
2,846 | Take-Two Interactive Software, Inc. (a) | 293 | ||||||
128 | The Madison Square Garden Co., Class – A (a) | 34 | ||||||
84,660 | The Walt Disney Co. | 9,284 | ||||||
3,806 | Twenty-First Century Fox, Inc. | 183 |
Shares | Security Description | Value (000) | ||||||
Entertainment (continued) |
| |||||||
1,781 | Twenty-First Century Fox, Inc., Class – B | $ | 85 | |||||
16 | Viacom, Inc., Class – A | — | ||||||
1,287 | Viacom, Inc., Class – B | 33 | ||||||
2,850 | Zynga, Inc. (a) | 11 | ||||||
|
| |||||||
29,770 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 2.01% |
| |||||||
666 | Alexandria Real Estate Equities, Inc. | 77 | ||||||
501 | American Campus Communities, Inc. | 21 | ||||||
953 | American Homes 4 Rent, Class – A | 19 | ||||||
25,709 | American Tower Corp. | 4,068 | ||||||
569 | Apartment Investment & Management Co., | 25 | ||||||
803 | Apple Hospitality REIT, Inc. | 11 | ||||||
503 | AvalonBay Communities, Inc. | 88 | ||||||
563 | Boston Properties, Inc. | 63 | ||||||
655 | Brandywine Realty Trust | 8 | ||||||
1,113 | Brixmor Property Group, Inc. | 16 | ||||||
582 | Brookfield Property REIT, Inc., Class – A | 9 | ||||||
323 | Camden Property Trust | 28 | ||||||
1,811 | Colony Capital, Inc. | 8 | ||||||
441 | Columbia Property Trust, Inc. | 9 | ||||||
1,504 | Coresite Realty Corp. | 131 | ||||||
385 | Corporate Office Properties Trust | 8 | ||||||
31,116 | Crown Castle International Corp. | 3,380 | ||||||
683 | CubeSmart | 20 | ||||||
381 | CyrusOne, Inc. | 20 | ||||||
749 | Digital Realty Trust, Inc. | 80 | ||||||
591 | Douglas Emmett, Inc. | 20 | ||||||
1,300 | Duke Realty Corp. | 34 | ||||||
513 | Empire State Realty Trust, Inc., Class – A | 7 | ||||||
271 | EPR Properties | 17 | ||||||
3,216 | Equinix, Inc. | 1,134 | ||||||
435 | Equity Commonwealth | 13 | ||||||
3,459 | Equity Lifestyle Properties, Inc. | 336 | ||||||
1,308 | Equity Residential | 86 | ||||||
240 | Essex Property Trust, Inc. | 59 | ||||||
28,732 | Extra Space Storage, Inc. | 2,600 | ||||||
266 | Federal Realty Investment Trust | 31 | ||||||
3,420 | Gaming & Leisure Properties, Inc. | 111 | ||||||
1,714 | HCP, Inc. | 48 | ||||||
759 | Healthcare Trust of America, Inc., Class – A | 19 | ||||||
375 | Highwoods Properties, Inc. | 15 | ||||||
602 | Hospitality Properties Trust | 14 | ||||||
2,668 | Host Hotels & Resorts, Inc. | 44 | ||||||
1,119 | Hudson Pacific Property, Inc. | 33 | ||||||
1,088 | Invitation Homes, Inc. | 22 | ||||||
1,034 | Iron Mountain, Inc. | 34 | ||||||
387 | JBG SMITH Properties | 13 | ||||||
353 | Kilroy Realty Corp. | 22 | ||||||
1,481 | Kimco Realty Corp. | 22 | ||||||
3,111 | Lamar Advertising Co., Class – A | 215 | ||||||
537 | Liberty Property Trust | 22 | ||||||
260 | Life Storage, Inc. | 24 | ||||||
1,336 | Medical Properties Trust, Inc. | 21 | ||||||
413 | Mid-America Apartment Communities, Inc. | 40 |
See accompanying notes to financial statements.
31
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
569 | National Retail Properties, Inc. | $ | 28 | |||||
1,290 | OMEGA Healthcare Investors, Inc. | 45 | ||||||
515 | Outfront Media, Inc. | 9 | ||||||
771 | Paramount Group, Inc. | 10 | ||||||
740 | Parks Hotels & Resorts, Inc. | 19 | ||||||
2,283 | Prologis, Inc. | 134 | ||||||
18,573 | Public Storage | 3,760 | ||||||
476 | Rayonier, Inc. | 13 | ||||||
1,057 | Realty Income Corp. | 67 | ||||||
553 | Regency Centers Corp. | 32 | ||||||
816 | Retail Properties of America, Inc., Class – A | 9 | ||||||
25 | Retail Value, Inc. | 1 | ||||||
4,619 | SBA Communications Corp. (a) | 748 | ||||||
873 | Senior Housing Properties Trust | 10 | ||||||
27,517 | Simon Property Group, Inc. | 4,624 | ||||||
576 | SITE Centers Corp. | 6 | ||||||
304 | SL Green Realty Corp. | 24 | ||||||
317 | Spirit Realty Capital, Inc. | 11 | ||||||
674 | Store Capital Corp. | 19 | ||||||
303 | Sun Communities, Inc. | 31 | ||||||
2,372 | Taubman Centers, Inc. | 108 | ||||||
495 | The Macerich Co. | 21 | ||||||
967 | UDR, Inc. | 38 | ||||||
613 | Uniti Group, Inc. | 10 | ||||||
1,297 | Ventas, Inc. | 76 | ||||||
3,531 | VEREIT, Inc. | 25 | ||||||
1,459 | VICI Properties, Inc. | 27 | ||||||
628 | Vornado Realty Trust | 39 | ||||||
443 | Weingarten Realty Investors | 11 | ||||||
1,356 | Welltower, Inc. | 94 | ||||||
2,760 | Weyerhaeuser Co. | 60 | ||||||
576 | WP Carey, Inc. | 38 | ||||||
|
| |||||||
23,292 | ||||||||
|
| |||||||
Food & Staples Retailing — 1.37% |
| |||||||
134 | Casey’s General Stores, Inc. | 17 | ||||||
41,896 | Costco Wholesale Corp. | 8,534 | ||||||
4,837 | Sprouts Farmers Market, Inc. (a) | 114 | ||||||
59,798 | Sysco Corp. | 3,747 | ||||||
2,891 | The Kroger Co. | 80 | ||||||
1,235 | US Foods Holding Corp. (a) | 39 | ||||||
41,529 | Walgreens Boots Alliance, Inc. | 2,838 | ||||||
5,281 | Wal-Mart Stores, Inc. | 492 | ||||||
|
| |||||||
15,861 | ||||||||
|
| |||||||
Food Products — 0.37% |
| |||||||
2,036 | Archer-Daniels-Midland Co. | 83 | ||||||
513 | Bunge Ltd. | 27 | ||||||
5,194 | Campbell Soup Co. | 171 | ||||||
1,705 | ConAgra Foods, Inc. | 36 | ||||||
675 | Flowers Foods, Inc. | 12 | ||||||
3,168 | General Mills, Inc. | 123 | ||||||
5,267 | Hershey Co. | 566 | ||||||
1,004 | Hormel Foods Corp. | 43 | ||||||
258 | Ingredion, Inc. | 24 | ||||||
5,375 | Kellogg Co. | 306 |
Shares | Security Description | Value (000) | ||||||
Food Products (continued) |
| |||||||
30,619 | Lamb Weston Holding, Inc. | $ | 2,253 | |||||
668 | McCormick & Company, Inc. | 93 | ||||||
5,282 | Mondelez International, Inc., Class – A | 211 | ||||||
87 | Pilgrim’s Pride Corp. (a) | 1 | ||||||
1,565 | Post Holdings, Inc. (a) | 139 | ||||||
1 | Seaboard Corp. | 4 | ||||||
357 | The Hain Celestial Group, Inc. (a) | 6 | ||||||
407 | The J.M. Smucker Co. | 38 | ||||||
2,197 | The Kraft Heinz Co. | 95 | ||||||
202 | TreeHouse Foods, Inc. (a) | 10 | ||||||
1,060 | Tyson Foods, Inc., Class – A | 57 | ||||||
|
| |||||||
4,298 | ||||||||
|
| |||||||
Gas Utilities — 0.01% |
| |||||||
397 | Atmos Energy Corp. | 37 | ||||||
299 | National Fuel Gas Co. | 15 | ||||||
630 | UGI Corp. | 34 | ||||||
|
| |||||||
86 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 1.93% |
| |||||||
6,336 | Abbott Laboratories | 458 | ||||||
1,703 | Abiomed, Inc. (a) | 554 | ||||||
3,200 | Align Technology, Inc. (a) | 670 | ||||||
3,924 | Baxter International, Inc. | 258 | ||||||
1,850 | Becton, Dickinson & Co. | 417 | ||||||
44,089 | Boston Scientific Corp. (a) | 1,558 | ||||||
1,547 | Cantel Medical Corp. | 115 | ||||||
2,287 | Danaher Corp. | 236 | ||||||
810 | Dentsply Sirona, Inc. | 30 | ||||||
3,567 | Dexcom, Inc. (a) | 427 | ||||||
18,949 | Edwards Lifesciences Corp. (a) | 2,903 | ||||||
1,748 | Hill-Rom Holdings, Inc. | 155 | ||||||
989 | Hologic, Inc. (a) | 41 | ||||||
641 | ICU Medical, Inc. (a) | 147 | ||||||
6,905 | IDEXX Laboratories, Inc. (a) | 1,284 | ||||||
2,403 | Insulet Corp. (a) | 191 | ||||||
2,361 | Integra LifeSciences Holdings Corp. (a) | 106 | ||||||
9,754 | Intuitive Surgical, Inc. (a) | 4,672 | ||||||
22,280 | Masimo Corp. (a) | 2,392 | ||||||
21,865 | Medtronic PLC | 1,989 | ||||||
1,260 | Penumbra, Inc. (a) | 154 | ||||||
5,614 | ResMed, Inc. | 639 | ||||||
305 | Steris PLC | 33 | ||||||
13,829 | Stryker Corp. | 2,168 | ||||||
487 | Teleflex, Inc. | 126 | ||||||
441 | The Cooper Companies, Inc. | 112 | ||||||
3,746 | Varian Medical Systems, Inc. (a) | 424 | ||||||
825 | West Pharmaceutical Services, Inc. | 81 | ||||||
751 | Zimmer Holdings, Inc. | 78 | ||||||
|
| |||||||
22,418 | ||||||||
|
| |||||||
Health Care Providers & Services — 2.08% |
| |||||||
322 | Acadia Healthcare Company, Inc. (a) | 8 | ||||||
6,279 | AmerisourceBergen Corp. | 467 | ||||||
963 | Anthem, Inc. | 253 | ||||||
1,133 | Cardinal Health, Inc. | 51 | ||||||
7,326 | Centene Corp. (a) | 845 | ||||||
638 | Chemed Corp. | 181 |
See accompanying notes to financial statements.
32
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Providers & Services (continued) |
| |||||||
5,225 | Cigna Corp. | $ | 992 | |||||
8,326 | CVS Caremark Corp. | 546 | ||||||
2,864 | DaVita Healthcare Partners, Inc. (a) | 147 | ||||||
34,753 | Encompass Health Corp. | 2,144 | ||||||
8,267 | HCA Holdings, Inc. | 1,029 | ||||||
1,452 | Henry Schein, Inc. (a) | 114 | ||||||
5,311 | Humana, Inc. | 1,521 | ||||||
591 | Laboratory Corporation of America Holdings (a) | 75 | ||||||
1,685 | McKesson Corp. | 186 | ||||||
344 | MEDNAX, Inc. (a) | 11 | ||||||
2,169 | Molina Heathcare, Inc. (a) | 252 | ||||||
728 | Premier, Inc., Class – A (a) | 27 | ||||||
502 | Quest Diagnostics, Inc. | 42 | ||||||
59,245 | UnitedHealth Group, Inc. | 14,759 | ||||||
309 | Universal Health Services, Inc., Class – B | 36 | ||||||
1,862 | WellCare Health Plans, Inc. (a) | 440 | ||||||
|
| |||||||
24,126 | ||||||||
|
| |||||||
Health Care Technology — 0.08% |
| |||||||
1,636 | athenahealth, Inc. (a) | 216 | ||||||
6,327 | Cerner Corp. (a) | 332 | ||||||
4,895 | Veeva Systems, Inc. (a) | 437 | ||||||
|
| |||||||
985 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.92% |
| |||||||
890 | Aramark | 26 | ||||||
2,191 | Caesars Entertainment Corp. (a) | 15 | ||||||
1,478 | Carnival Corp., Class – A | 73 | ||||||
5,157 | Chipotle Mexican Grill, Inc. (a) | 2,227 | ||||||
1,418 | Choice Hotels International, Inc. | 102 | ||||||
2,711 | Darden Restaurants, Inc. | 271 | ||||||
10,516 | Domino’s Pizza, Inc. | 2,608 | ||||||
3,255 | Dunkin’ Brands Group, Inc. | 209 | ||||||
4,913 | Extended Stay America, Inc. | 76 | ||||||
3,949 | Hilton Grand Vacations (a) | 104 | ||||||
11,156 | Hilton Worldwide Holdings, Inc. | 801 | ||||||
158 | Hyatt Hotels Corp., Class – A | 11 | ||||||
373 | International Game Technology PLC | 5 | ||||||
9,290 | Las Vegas Sands Corp. | 484 | ||||||
48,059 | Marriott International, Inc., Class – A | 5,216 | ||||||
26,503 | McDonald’s Corp. | 4,705 | ||||||
3,531 | MGM Resorts International | 86 | ||||||
804 | Norwegian Cruise Line Holdings Ltd. (a) | 34 | ||||||
607 | Royal Caribbean Cruises Ltd. | 59 | ||||||
2,911 | Six Flags Entertainment Corp. | 162 | ||||||
49,699 | Starbucks Corp. | 3,200 | ||||||
7,683 | The Wendy’s Co. | 120 | ||||||
1,639 | Vail Resorts, Inc. | 346 | ||||||
4,007 | Wyndham Hotels & Resorts, Inc. | 182 | ||||||
4,028 | Wyndham Worldwide Corp. | 144 | ||||||
4,094 | Wynn Resorts Ltd. | 405 | ||||||
2,359 | Yum China Holdings, Inc. | 79 | ||||||
4,609 | YUM! Brands, Inc. | 424 | ||||||
|
| |||||||
22,174 | ||||||||
|
| |||||||
Household Durables — 0.11% |
| |||||||
8,761 | D.R. Horton, Inc. | 304 |
Shares | Security Description | Value (000) | ||||||
Household Durables (continued) |
| |||||||
422 | Garmin Ltd. | $ | 27 | |||||
483 | Leggett & Platt, Inc. | 17 | ||||||
6,730 | Lennar Corp., Class – A | 263 | ||||||
322 | Lennar Corp., Class – B | 10 | ||||||
227 | Mohawk Industries, Inc. (a) | 27 | ||||||
1,599 | Newell Rubbermaid, Inc. | 30 | ||||||
129 | NVR, Inc. (a) | 314 | ||||||
3,999 | PulteGroup, Inc. | 104 | ||||||
1,847 | Tempur Sealy International, Inc. (a) | 76 | ||||||
3,174 | Toll Brothers, Inc. | 105 | ||||||
231 | Whirlpool Corp. | 25 | ||||||
|
| |||||||
1,302 | ||||||||
|
| |||||||
Household Products — 0.55% |
| |||||||
8,396 | Church & Dwight Co., Inc. | 552 | ||||||
9,027 | Colgate-Palmolive Co. | 537 | ||||||
31,241 | Energizer Holdings, Inc. | 1,411 | ||||||
12,441 | Kimberly-Clark Corp. | 1,418 | ||||||
743 | Spectrum Brands Holdings, Inc. | 31 | ||||||
4,609 | The Clorox Co. | 710 | ||||||
18,690 | The Procter & Gamble Co. | 1,718 | ||||||
|
| |||||||
6,377 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers — 0.01% |
| |||||||
1,104 | NRG Energy, Inc., Class – C | 44 | ||||||
2,409 | The AES Corp. | 35 | ||||||
1,493 | Vistra Energy Corp. (a) | 34 | ||||||
|
| |||||||
113 | ||||||||
|
| |||||||
Industrial Conglomerates — 0.89% |
| |||||||
19,647 | 3M Co. | 3,744 | ||||||
217 | Carlisle Companies, Inc. | 22 | ||||||
31,444 | General Electric Co. | 238 | ||||||
45,928 | Honeywell International, Inc. | 6,067 | ||||||
1,054 | Roper Industries, Inc. | 281 | ||||||
|
| |||||||
10,352 | ||||||||
|
| |||||||
Insurance — 1.26% |
| |||||||
2,787 | Aflac, Inc. | 127 | ||||||
113 | Alleghany Corp. | 70 | ||||||
18,054 | Allstate Corp. | 1,492 | ||||||
24,359 | American Financial Group, Inc. | 2,205 | ||||||
8,030 | American International Group, Inc. | 316 | ||||||
12 | American National Insurance Co. | 2 | ||||||
9,892 | Aon PLC | 1,438 | ||||||
3,678 | Arch Capital Group Ltd. (a) | 99 | ||||||
657 | Arthur J. Gallagher & Co. | 48 | ||||||
220 | Aspen Insurance Holdings Ltd. | 9 | ||||||
193 | Assurant, Inc. | 17 | ||||||
394 | Assured Guaranty Ltd. | 15 | ||||||
579 | Athene Holding Ltd. (a) | 23 | ||||||
617 | AXIS Capital Holdings Ltd. | 32 | ||||||
444 | Brighthouse Financial, Inc. (a) | 14 | ||||||
82,794 | Brown & Brown, Inc. | 2,282 | ||||||
1,690 | Chubb Ltd. | 218 | ||||||
560 | Cincinnati Financial Corp. | 43 | ||||||
46 | CNA Financial Corp. | 2 | ||||||
793 | Erie Indemnity Co., Class – A | 106 |
See accompanying notes to financial statements.
33
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Insurance (continued) |
| |||||||
708 | Everest Re Group Ltd. | $ | 155 | |||||
400 | First American Financial Corp. | 18 | ||||||
962 | FNF Group | 30 | ||||||
156 | Hanover Insurance Group, Inc. | 18 | ||||||
1,303 | Hartford Financial Services Group, Inc. | 58 | ||||||
796 | Lincoln National Corp. | 41 | ||||||
1,013 | Loews Corp. | 46 | ||||||
93 | Markel Corp. (a) | 97 | ||||||
10,571 | Marsh & McLennan Companies, Inc. | 843 | ||||||
103 | Mercury General Corp. | 5 | ||||||
3,081 | MetLife, Inc. | 127 | ||||||
1,031 | Old Republic International Corp. | 21 | ||||||
1,030 | Principal Financial Group, Inc. | 45 | ||||||
1,531 | Prudential Financial, Inc. | 125 | ||||||
232 | Reinsurance Group of America | 33 | ||||||
257 | RenaissanceRe Holdings Ltd. | 34 | ||||||
66,377 | The Progressive Corp. | 4,005 | ||||||
2,958 | The Travelers Companies, Inc. | 354 | ||||||
391 | Torchmark Corp. | 29 | ||||||
755 | Unum Group | 22 | ||||||
346 | W.R. Berkley Corp. | 26 | ||||||
11 | White Mountains Insurance Group Ltd. | 9 | ||||||
479 | Willis Towers Watson PLC | 73 | ||||||
|
| |||||||
14,772 | ||||||||
|
| |||||||
Interactive Media & Services — 7.41% |
| |||||||
24,029 | Alphabet, Inc., Class – A (a) | 25,109 | ||||||
24,493 | Alphabet, Inc., Class – C (a) | 25,366 | ||||||
177,236 | Facebook, Inc., Class – A (a) | 23,234 | ||||||
2,994 | Interactive Corp. (a) | 548 | ||||||
57,504 | Match Group, Inc. | 2,459 | ||||||
203,306 | Tencent Holdings Ltd., ADR | 8,024 | ||||||
4,078 | TripAdvisor, Inc. (a) | 220 | ||||||
28,765 | Twitter, Inc. (a) | 827 | ||||||
1,704 | Zillow Group, Inc., Class – A (a) | 54 | ||||||
3,511 | Zillow Group, Inc., Class – C (a) | 111 | ||||||
|
| |||||||
85,952 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 5.26% |
| |||||||
54,088 | Alibaba Group Holding Ltd., ADR (a) | 7,414 | ||||||
30,952 | Amazon.com, Inc. (a) | 46,489 | ||||||
3,099 | Booking Holdings, Inc. (a) | 5,338 | ||||||
11,018 | eBay, Inc. (a) | 309 | ||||||
4,806 | Expedia, Inc. | 541 | ||||||
26,606 | Farfetch Ltd., Class – A (a) | 471 | ||||||
3,587 | GrubHub, Inc. (a) | 276 | ||||||
1,551 | Qurate Retail, Inc. (a) | 30 | ||||||
2,265 | Wayfair, Inc., Class – A (a) | 204 | ||||||
|
| |||||||
61,072 | ||||||||
|
| |||||||
IT Services — 7.21% |
| |||||||
48,699 | Accenture PLC, Class – A | 6,867 | ||||||
6,210 | Akamai Technologies, Inc. (a) | 379 | ||||||
1,916 | Alliance Data Systems Corp. | 288 | ||||||
529 | Amdocs Ltd. | 31 | ||||||
17,792 | Automatic Data Processing, Inc. | 2,333 | ||||||
5,799 | Black Knight, Inc. (a) | 261 |
Shares | Security Description | Value (000) | ||||||
IT Services (continued) |
| |||||||
5,217 | Booz Allen Hamilton Holding Corp. | $ | 235 | |||||
28,727 | Broadridge Financial Solutions, Inc. | 2,765 | ||||||
62,440 | Cognizant Technology Solutions Corp. | 3,964 | ||||||
710 | Conduent, Inc. (a) | 8 | ||||||
2,193 | CoreLogic, Inc. (a) | 73 | ||||||
1,023 | DXC Technology Co. | 54 | ||||||
2,085 | EPAM Systems, Inc. (a) | 242 | ||||||
1,036 | Euronet Worldwide, Inc. (a) | 106 | ||||||
2,190 | Fidelity National Information Services, Inc. | 225 | ||||||
21,928 | First Data Corp. (a) | 371 | ||||||
16,424 | Fiserv, Inc. (a) | 1,207 | ||||||
3,510 | FleetCor Technologies, Inc. (a) | 652 | ||||||
3,526 | Gartner Group, Inc. (a) | 451 | ||||||
2,220 | Genpact Ltd. | 60 | ||||||
6,408 | Global Payments, Inc. | 661 | ||||||
6,375 | GoDaddy, Inc., Class – A (a) | 418 | ||||||
27,742 | International Business Machines Corp. | 3,153 | ||||||
3,063 | Jack Henry & Associates, Inc. | 388 | ||||||
521 | Leidos Holdings, Inc. | 27 | ||||||
112,922 | MasterCard, Inc., Class – A | 21,302 | ||||||
3,525 | Okta, Inc. (a) | 225 | ||||||
12,969 | Paychex, Inc. | 845 | ||||||
88,155 | PayPal Holdings, Inc. (a) | 7,413 | ||||||
9,364 | Sabre Corp. | 203 | ||||||
37,417 | Square, Inc., Class – A (a) | 2,099 | ||||||
954 | Switch, Inc., Class – A | 7 | ||||||
3,726 | Teradata Corp. (a) | 143 | ||||||
7,255 | Total System Services, Inc. | 590 | ||||||
2,941 | Twilio, Inc., Class – A (a) | 263 | ||||||
8,291 | VeriSign, Inc. (a) | 1,229 | ||||||
178,748 | Visa, Inc., Class – A | 23,583 | ||||||
5,899 | Western Union Co. | 101 | ||||||
1,669 | WEX, Inc. (a) | 234 | ||||||
1,997 | Worldpay, Inc., Class – A (a) | 153 | ||||||
|
| |||||||
83,609 | ||||||||
|
| |||||||
Leisure Products — 0.05% |
| |||||||
512 | Brunswick Corp. | 24 | ||||||
3,751 | Hasbro, Inc. | 304 | ||||||
4,080 | Mattel, Inc. (a) | 41 | ||||||
2,436 | Polaris Industries, Inc. | 187 | ||||||
|
| |||||||
556 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 1.69% |
| |||||||
1,175 | Agilent Technologies, Inc. | 79 | ||||||
8,917 | Bio-Rad Laboratories, Inc., Class – A (a) | 2,071 | ||||||
1,531 | Bio-Techne Corp. | 222 | ||||||
2,053 | Bruker Biosciences Corp. | 61 | ||||||
3,691 | Charles River Laboratories International, Inc. (a) | 418 | ||||||
30,415 | Illumina, Inc. (a) | 9,122 | ||||||
594 | IQVIA Holdings, Inc. (a) | 69 | ||||||
994 | Mettler-Toledo International, Inc. (a) | 562 | ||||||
401 | PerkinElmer, Inc. | 31 | ||||||
2,239 | PRA Health Sciences, Inc. (a) | 206 | ||||||
808 | Qiagen N.V. (a) | 28 | ||||||
17,096 | Thermo Electron Corp. | 3,826 | ||||||
15,621 | Waters Corp. (a) | 2,947 | ||||||
|
| |||||||
19,642 | ||||||||
|
|
See accompanying notes to financial statements.
34
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Machinery — 1.16% |
| |||||||
247 | AGCO Corp. | $ | 14 | |||||
57,071 | Allison Transmission Holdings, Inc. | 2,506 | ||||||
21,740 | Caterpillar, Inc. | 2,764 | ||||||
321 | Colfax Corp. (a) | 7 | ||||||
188 | Crane Co. | 14 | ||||||
2,601 | Cummins, Inc. | 348 | ||||||
13,095 | Deere & Co. | 1,953 | ||||||
4,988 | Donaldson Company, Inc. | 216 | ||||||
536 | Dover Corp. | 38 | ||||||
481 | Flowserve Corp. | 18 | ||||||
11,451 | Fortive Corp. | 775 | ||||||
2,023 | Gardner Denver Holdings, Inc. (a) | 41 | ||||||
73 | Gates Industrial Corp. PLC (a) | 1 | ||||||
6,805 | Graco, Inc. | 285 | ||||||
2,965 | IDEX Corp. | 374 | ||||||
13,539 | Illinois Tool Works, Inc. | 1,715 | ||||||
5,690 | Ingersoll-Rand PLC | 519 | ||||||
322 | ITT, Inc. | 16 | ||||||
2,566 | Lincoln Electric Holdings, Inc. | 202 | ||||||
2,144 | Nordson, Inc. | 256 | ||||||
268 | Oshkosh Corp. | 16 | ||||||
1,251 | PACCAR, Inc. | 71 | ||||||
1,335 | Parker Hannifin Corp. | 199 | ||||||
576 | Pentair PLC | 22 | ||||||
208 | Snap-on, Inc. | 30 | ||||||
563 | Stanley Black & Decker, Inc. | 67 | ||||||
247 | Terex Corp. | 7 | ||||||
1,325 | The Middleby Corp. (a) | 136 | ||||||
256 | The Timken Co. | 10 | ||||||
4,044 | The Toro Co. | 226 | ||||||
540 | Trinity Industries, Inc. | 11 | ||||||
2,179 | WABCO Holdings, Inc. (a) | 234 | ||||||
1,464 | Wabtec Corp. | 103 | ||||||
5,353 | Welbilt, Inc. (a) | 59 | ||||||
4,379 | Xylem, Inc. | 292 | ||||||
|
| |||||||
13,545 | ||||||||
|
| |||||||
Marine — 0.00% |
| |||||||
221 | Kirby Corp. (a) | 15 | ||||||
|
| |||||||
Media — 0.34% |
| |||||||
1,871 | AMC Networks, Inc. (a) | 103 | ||||||
179 | Cable One, Inc. | 147 | ||||||
13,154 | CBS Corp., Class – B | 575 | ||||||
5,175 | Charter Communications, Inc., Class – A (a) | 1,474 | ||||||
17,400 | Comcast Corp., Class – A | 592 | ||||||
567 | Discovery Communications, Inc., Class – A (a) | 14 | ||||||
1,263 | Discovery Communications, Inc., Class – C (a) | 29 | ||||||
809 | Dish Network Corp. (a) | 20 | ||||||
372 | GCI Liberty, Inc., Class – A (a) | 15 | ||||||
168 | John Wiley & Sons, Inc., Class – A | 8 | ||||||
95 | Liberty Broadband, Class – A (a) | 7 | ||||||
379 | Liberty Broadband, Class – C (a) | 27 | ||||||
313 | Liberty SiriusXM Group, Class – A (a) | 12 | ||||||
610 | Liberty SiriusXM Group, Class – C (a) | 23 | ||||||
459 | News Corp., Inc. | 5 |
Shares | Security Description | Value (000) | ||||||
Media (continued) |
| |||||||
1,409 | News Corp., Inc., Class – A | $ | 16 | |||||
6,252 | Omnicom Group, Inc. | 458 | ||||||
52,493 | Sirius XM Holdings, Inc. | 300 | ||||||
3,138 | The Interpublic Group of Companies, Inc. | 65 | ||||||
325 | Tribune Media Co., Class – A | 15 | ||||||
|
| |||||||
3,905 | ||||||||
|
| |||||||
Metals & Mining — 0.21% |
| |||||||
687 | Alcoa Corp. (a) | 18 | ||||||
5,274 | Freeport-McMoRan Copper & Gold, Inc. | 54 | ||||||
1,942 | Newmont Mining Corp. | 67 | ||||||
1,160 | Nucor Corp. | 60 | ||||||
259 | Reliance Steel & Aluminum Co. | 18 | ||||||
1,235 | Royal Gold, Inc. | 106 | ||||||
3,352 | Southern Copper Corp. | 103 | ||||||
68,283 | Steel Dynamics, Inc. | 2,052 | ||||||
651 | United States Steel Corp. | 12 | ||||||
|
| |||||||
2,490 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.01% |
| |||||||
1,883 | AGNC Investment Corp. | 33 | ||||||
4,638 | Annaly Capital Management, Inc. | 45 | ||||||
690 | Chimera Investment Corp. | 12 | ||||||
1,659 | MFA Financial, Inc. | 11 | ||||||
1,334 | New Residential Investment Corp. | 19 | ||||||
958 | Starwood Property Trust, Inc. | 19 | ||||||
910 | Two Harbors Investment Corp. | 12 | ||||||
|
| |||||||
151 | ||||||||
|
| |||||||
Multiline Retail — 0.61% |
| |||||||
10,878 | Dollar General Corp. | 1,176 | ||||||
2,287 | Dollar Tree, Inc. (a) | 207 | ||||||
36,392 | Kohl’s Corp. | 2,414 | ||||||
11,637 | Macy’s, Inc. | 347 | ||||||
4,806 | Nordstrom, Inc. | 224 | ||||||
41,280 | Target Corp. | 2,727 | ||||||
|
| |||||||
7,095 | ||||||||
|
| |||||||
Multi-Utilities — 0.07% |
| |||||||
886 | Ameren Corp. | 58 | ||||||
1,794 | CenterPoint Energy, Inc. | 51 | ||||||
1,026 | CMS Energy Corp. | 51 | ||||||
1,135 | Consolidated Edison, Inc. | 87 | ||||||
2,376 | Dominion Resources, Inc. | 169 | ||||||
659 | DTE Energy Co. | 73 | ||||||
715 | MDU Resources Group, Inc. | 17 | ||||||
1,321 | NiSource, Inc. | 33 | ||||||
1,839 | Public Service Enterprise Group, Inc. | 96 | ||||||
519 | SCANA Corp. | 25 | ||||||
998 | Sempra Energy | 107 | ||||||
306 | Vectren Corp. | 22 | ||||||
1,150 | WEC Energy Group, Inc. | 80 | ||||||
|
| |||||||
869 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.22% |
| |||||||
8,135 | Anadarko Petroleum Corp. | 357 | ||||||
5,654 | Antero Resources Corp. (a) | 53 | ||||||
2,280 | Apache Corp. | 60 | ||||||
13,064 | Cabot Oil & Gas Corp. | 292 |
See accompanying notes to financial statements.
35
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||
680 | Centennial Resource Development, Inc. (a) | $ | 7 | |||||
6,736 | Cheniere Energy, Inc. (a) | 399 | ||||||
3,345 | Chesapeake Energy Corp. (a) | 7 | ||||||
51,904 | Chevron Corp. | 5,647 | ||||||
856 | Cimarex Energy Co. | 53 | ||||||
781 | CNX Resources Corp. (a) | 9 | ||||||
1,646 | Concho Resources, Inc. (a) | 169 | ||||||
53,834 | ConocoPhillips | 3,357 | ||||||
1,878 | Continental Resources, Inc. (a) | 75 | ||||||
1,851 | Devon Energy Corp. | 42 | ||||||
1,511 | Diamondback Energy, Inc. | 140 | ||||||
16,878 | EOG Resources, Inc. | 1,472 | ||||||
978 | EQT Corp. | 18 | ||||||
783 | Equitrans Midstream Corp. (a) | 16 | ||||||
182 | Extraction Oil & Gas, Inc. (a) | 1 | ||||||
101,205 | Exxon Mobil Corp. | 6,902 | ||||||
966 | Hess Corp. | 39 | ||||||
590 | HollyFrontier Corp. | 30 | ||||||
6,918 | Kinder Morgan, Inc. | 106 | ||||||
2,014 | Kosmos Energy Ltd. (a) | 8 | ||||||
3,101 | Marathon Oil Corp. | 44 | ||||||
2,444 | Marathon Petroleum Corp. | 144 | ||||||
606 | Murphy Oil Corp. | 14 | ||||||
3,147 | Newfield Exploration Co. (a) | 46 | ||||||
1,748 | Noble Energy, Inc. | 33 | ||||||
34,655 | Occidental Petroleum Corp. | 2,127 | ||||||
7,687 | ONEOK, Inc. | 415 | ||||||
7,606 | Parsley Energy, Inc., Class – A (a) | 122 | ||||||
440 | PBF Energy, Inc., Class – A | 14 | ||||||
32,435 | Phillips 66 | 2,794 | ||||||
4,001 | Pioneer Natural Resources Co. | 526 | ||||||
886 | QEP Resources, Inc. (a) | 5 | ||||||
783 | Range Resources Corp. | 7 | ||||||
415 | SM Energy Co. | 6 | ||||||
810 | Targa Resources Corp. | 29 | ||||||
4,432 | The Williams Companies, Inc. | 98 | ||||||
1,569 | Valero Energy Corp. | 118 | ||||||
334 | Whiting Petroleum Corp. (a) | 8 | ||||||
1,463 | WPX Energy, Inc. (a) | 17 | ||||||
|
| |||||||
25,826 | ||||||||
|
| |||||||
Paper & Forest Products — 0.00% |
| |||||||
233 | Domtar Corp. | 8 | ||||||
|
| |||||||
Personal Products — 0.64% |
| |||||||
1,697 | Coty, Inc., Class – A | 11 | ||||||
40,011 | Herbalife Ltd. (a) | 2,359 | ||||||
831 | Nu Skin Enterprises, Inc., Class – A | 51 | ||||||
38,503 | The Estee Lauder Companies, Inc., Class – A | 5,009 | ||||||
|
| |||||||
7,430 | ||||||||
|
| |||||||
Pharmaceuticals — 3.96% |
| |||||||
1,236 | Allergan PLC | 165 | ||||||
143,999 | AstraZeneca PLC, ADR | 5,469 | ||||||
151,098 | Bristol-Myers Squibb Co. | 7,854 | ||||||
1,628 | Catalent, Inc. (a) | 51 | ||||||
33,291 | Eli Lilly & Co. | 3,852 |
Shares | Security Description | Value (000) | ||||||
Pharmaceuticals (continued) |
| |||||||
18,109 | Jazz Pharmaceuticals PLC (a) | $ | 2,245 | |||||
78,653 | Johnson & Johnson | 10,150 | ||||||
65,392 | Merck & Co., Inc. | 4,997 | ||||||
1,871 | Mylan N.V. (a) | 51 | ||||||
6,418 | Nektar Therapeutics (a) | 211 | ||||||
465 | Perrigo Co. PLC | 18 | ||||||
150,281 | Pfizer, Inc. | 6,560 | ||||||
50,849 | Zoetis, Inc. | 4,350 | ||||||
|
| |||||||
45,973 | ||||||||
|
| |||||||
Professional Services — 0.39% |
| |||||||
1,425 | CoStar Group, Inc. (a) | 481 | ||||||
1,590 | Equifax, Inc. | 148 | ||||||
1,406 | IHS Markit Ltd. (a) | 67 | ||||||
239 | ManpowerGroup, Inc. | 15 | ||||||
1,299 | Nielsen Holdings PLC | 30 | ||||||
43,707 | Robert Half International, Inc. | 2,500 | ||||||
736 | The Dun & Bradstreet Corp. | 105 | ||||||
7,318 | TransUnion Holding Company, Inc. | 416 | ||||||
6,474 | Versik Analytics, Inc., Class – A (a) | 706 | ||||||
|
| |||||||
4,468 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.03% |
| |||||||
6,805 | CBRE Group, Inc., Class – A (a) | 273 | ||||||
701 | Howard Hughes Corp. (a) | 68 | ||||||
165 | Jones Lang LaSalle, Inc. | 21 | ||||||
461 | Realogy Holdings Corp. | 7 | ||||||
|
| |||||||
369 | ||||||||
|
| |||||||
Road & Rail — 0.73% |
| |||||||
26 | AMERCO, Inc. | 9 | ||||||
17,172 | CSX Corp. | 1,066 | ||||||
663 | Genesee & Wyoming, Inc., Class – A (a) | 49 | ||||||
3,567 | Hunt (JB) Transportation Services, Inc. | 332 | ||||||
373 | Kansas City Southern | 36 | ||||||
476 | Knight-Swift Transportation Holdings, Inc. | 12 | ||||||
1,712 | Landstar System, Inc. | 164 | ||||||
1,029 | Norfolk Southern Corp. | 154 | ||||||
2,614 | Old Dominion Freight Line, Inc. | 323 | ||||||
194 | Ryder System, Inc. | 9 | ||||||
355 | Schneider National, Inc. | 7 | ||||||
45,726 | Union Pacific Corp. | 6,320 | ||||||
|
| |||||||
8,481 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 2.71% |
| |||||||
37,706 | Advanced Micro Devices, Inc. (a) | 696 | ||||||
3,469 | Analog Devices, Inc. | 298 | ||||||
40,508 | Applied Materials, Inc. | 1,326 | ||||||
24,467 | Broadcom, Inc. | 6,221 | ||||||
9,957 | Cypress Semiconductor Corp. | 127 | ||||||
303 | First Solar, Inc. (a) | 13 | ||||||
125,616 | Intel Corp. | 5,895 | ||||||
6,284 | KLA-Tencor Corp. | 562 | ||||||
6,386 | Lam Research Corp. | 870 | ||||||
7,487 | Marvell Technology Group Ltd. | 121 | ||||||
11,097 | Maxim Integrated Products, Inc. | 564 | ||||||
9,274 | Microchip Technology, Inc. | 667 | ||||||
37,629 | Micron Technology, Inc. (a) | 1,194 | ||||||
2,225 | MKS Instruments, Inc. | 144 |
See accompanying notes to financial statements.
36
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
1,673 | Monolithic Power Systems, Inc. | $ | 194 | |||||
49,931 | NVIDIA Corp. | 6,666 | ||||||
1,875 | NXP Semiconductors N.V. | 137 | ||||||
17,257 | ON Semiconductor Corp. (a) | 285 | ||||||
460 | Qorvo, Inc. (a) | 28 | ||||||
4,547 | Qualcomm, Inc. | 259 | ||||||
5,347 | Skyworks Solutions, Inc. | 358 | ||||||
1,629 | Teradyne, Inc. | 51 | ||||||
39,145 | Texas Instruments, Inc. | 3,699 | ||||||
1,738 | Universal Display Corp. | 163 | ||||||
4,480 | Versum Materials, Inc. | 124 | ||||||
10,262 | Xilinx, Inc. | 874 | ||||||
|
| |||||||
31,536 | ||||||||
|
| |||||||
Software — 9.92% |
| |||||||
2,223 | 2U, Inc. (a) | 111 | ||||||
68,781 | Adobe Systems, Inc. (a) | 15,561 | ||||||
3,325 | ANSYS, Inc. (a) | 475 | ||||||
2,795 | Aspen Technology, Inc. (a) | 230 | ||||||
3,972 | Atlassian Corp. PLC, Class – A (a) | 353 | ||||||
7,566 | Autodesk, Inc. (a) | 973 | ||||||
11,100 | Cadence Design Systems, Inc. (a) | 483 | ||||||
5,109 | CDK Global, Inc. | 245 | ||||||
1,506 | Ceridian HCM Holding, Inc. (a) | 52 | ||||||
27,513 | Citrix Systems, Inc. | 2,819 | ||||||
1,207 | Dell Technologies, Inc., Class – V (a) | 97 | ||||||
2,874 | Docusign, Inc. (a) | 115 | ||||||
1,127 | Fair Isaac Corp. (a) | 211 | ||||||
5,144 | FireEye, Inc. (a) | 83 | ||||||
5,679 | Fortinet, Inc. (a) | 400 | ||||||
3,289 | Guidewire Software, Inc. (a) | 264 | ||||||
24,145 | Intuit, Inc. | 4,753 | ||||||
1,453 | LogMeln, Inc. | 119 | ||||||
2,714 | Manhattan Associates, Inc.(a) | 115 | ||||||
498,850 | Microsoft Corp. | 50,668 | ||||||
1,053 | Nuance Communications, Inc. (a) | 14 | ||||||
5,590 | Nutanix, Inc., Class – A (a) | 232 | ||||||
18,821 | Oracle Corp. | 850 | ||||||
2,039 | Paycom Software, Inc. (a) | 250 | ||||||
1,475 | Pegasystems, Inc. | 71 | ||||||
682 | Pluralsight, Inc., Class – A (a) | 16 | ||||||
2,069 | Proofpoint, Inc. (a) | 173 | ||||||
4,684 | PTC, Inc. (a) | 388 | ||||||
2,894 | RealPage, Inc. (a) | 139 | ||||||
31,342 | Red Hat, Inc. (a) | 5,505 | ||||||
2,738 | RingCentral, Inc., Class – A (a) | 226 | ||||||
97,552 | Salesforce.com, Inc. (a) | 13,362 | ||||||
16,152 | ServiceNow, Inc. (a) | 2,876 | ||||||
33,929 | Splunk, Inc. (a) | 3,557 | ||||||
7,879 | SS&C Technologies Holdings, Inc. | 355 | ||||||
2,256 | Symantec Corp. | 43 | ||||||
1,052 | Synopsys, Inc. (a) | 89 | ||||||
2,953 | Tableau Software, Inc., Class – A (a) | 354 | ||||||
1,219 | The Ultimate Software Group, Inc. (a) | 298 | ||||||
1,534 | Tyler Technologies, Inc. (a) | 285 |
Shares | Security Description | Value (000) | ||||||
Software (continued) |
| |||||||
16,362 | VMware, Inc., Class – A | $ | 2,244 | |||||
33,667 | Workday, Inc., Class – A (a) | 5,376 | ||||||
4,229 | Zendesk, Inc. (a) | 247 | ||||||
|
| |||||||
115,077 | ||||||||
|
| |||||||
Specialty Retail — 2.79% |
| |||||||
1,061 | Advance Auto Parts, Inc. | 167 | ||||||
206 | AutoNation, Inc. (a) | 7 | ||||||
951 | AutoZone, Inc. (a) | 797 | ||||||
41,815 | Best Buy Co., Inc. | 2,215 | ||||||
2,646 | Burlington Stores, Inc. (a) | 430 | ||||||
4,681 | CarMax, Inc. (a) | 294 | ||||||
288 | Dick’s Sporting Goods, Inc. | 9 | ||||||
1,987 | Floor & Decor Holdings, Inc., Class – A (a) | 51 | ||||||
428 | Foot Locker, Inc. | 23 | ||||||
1,264 | Gap, Inc. | 33 | ||||||
2,459 | L Brands, Inc. | 63 | ||||||
68,750 | Lowe’s Companies, Inc. | 6,349 | ||||||
1,298 | Michaels Companies, Inc. The (a) | 18 | ||||||
3,205 | O’Reilly Automotive, Inc. (a) | 1,104 | ||||||
134 | Penske Automotive Group, Inc. | 5 | ||||||
15,021 | Ross Stores, Inc. | 1,250 | ||||||
93,790 | The Home Depot, Inc. | 16,114 | ||||||
50,646 | The TJX Companies, Inc. | 2,266 | ||||||
1,225 | Tiffany & Co. | 99 | ||||||
4,983 | Tractor Supply Co. | 416 | ||||||
2,287 | Ulta Salon, Cosmetics & Fragrance, Inc. (a) | 560 | ||||||
2,898 | Urban Outfitters, Inc. (a) | 96 | ||||||
1,007 | Williams-Sonoma, Inc. | 51 | ||||||
|
| |||||||
32,417 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 4.79% |
| |||||||
330,767 | Apple, Inc. | 52,176 | ||||||
5,517 | Hewlett Packard Enterprise Co. | 73 | ||||||
5,878 | HP, Inc. | 120 | ||||||
4,122 | NCR Corp. (a) | 95 | ||||||
10,473 | NetApp, Inc. | 625 | ||||||
6,769 | Pure Storage, Inc., Class – A (a) | 109 | ||||||
59,893 | Seagate Technology Holdings, Inc. | 2,311 | ||||||
1,092 | Western Digital Corp. | 40 | ||||||
821 | Xerox Corp. | 16 | ||||||
|
| |||||||
55,565 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 1.71% |
| |||||||
1,893 | Carter’s, Inc. | 155 | ||||||
246 | Columbia Sportswear Co. | 21 | ||||||
14,684 | Hanesbrands, Inc. | 184 | ||||||
65,791 | Kering, ADR | 3,077 | ||||||
14,471 | Lululemon Athletica, Inc. (a) | 1,760 | ||||||
3,203 | Michael Kors Holdings Ltd. (a) | 121 | ||||||
151,377 | NIKE, Inc., Class – B | 11,222 | ||||||
278 | PVH Corp. | 26 | ||||||
204 | Ralph Lauren Corp. | 21 | ||||||
2,812 | Skechers USA, Inc., Class – A (a) | 64 | ||||||
67,254 | Tapestry, Inc. | 2,270 | ||||||
5,930 | Under Armour, Inc., Class – A (a) | 105 | ||||||
6,060 | Under Armour, Inc., Class – C (a) | 98 | ||||||
10,346 | V.F. Corp. | 738 | ||||||
|
| |||||||
19,862 | ||||||||
|
|
See accompanying notes to financial statements.
37
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Thrifts & Mortgage Finance — 0.00% |
| |||||||
1,758 | New York Community Bancorp, Inc. | $ | 17 | |||||
81 | TFS Financial Corp. | 1 | ||||||
|
| |||||||
18 | ||||||||
|
| |||||||
Tobacco — 0.36% |
| |||||||
76,599 | Altria Group, Inc. | 3,783 | ||||||
5,750 | Philip Morris International, Inc. | 384 | ||||||
|
| |||||||
4,167 | ||||||||
|
| |||||||
Trading Companies & Distributors — 0.35% |
| |||||||
599 | Air Lease Corp. | 18 | ||||||
11,479 | Fastenal Co. | 600 | ||||||
2,551 | HD Supply Holdings, Inc. (a) | 96 | ||||||
916 | MSC Industrial Direct Co., Inc., Class – A | 70 | ||||||
3,287 | United Rentals, Inc. (a) | 337 | ||||||
876 | Univar, Inc. (a) | 16 | ||||||
9,880 | W.W. Grainger, Inc. | 2,790 | ||||||
1,085 | Watsco, Inc. | 151 | ||||||
175 | WESCO International, Inc. (a) | 8 | ||||||
|
| |||||||
4,086 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.00% |
| |||||||
295 | Macquarie Infrastructure Corp. | 11 | ||||||
|
| |||||||
Water Utilities — 0.01% |
| |||||||
658 | American Water Works Co., Inc. | 60 | ||||||
655 | Aqua America, Inc. | 22 | ||||||
|
| |||||||
82 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.05% |
| |||||||
2,385 | Sprint Nextel Corp. (a) | 14 | ||||||
363 | Telephone & Data Systems, Inc. | 12 | ||||||
8,568 | T-Mobile USA, Inc. (a) | 545 | ||||||
21 | U.S. Cellular Corp. (a) | 1 | ||||||
|
| |||||||
572 | ||||||||
|
| |||||||
Total Common Stocks | 1,042,666 | |||||||
|
|
Principal Amount (000) | Security Description | Value (000) | ||||||
U.S. Treasury Obligation — 0.01% |
| |||||||
$ | 60 | U.S. Treasury Bill, 2.36%, 3/7/19 (b)(c) | $ | 60 | ||||
|
| |||||||
Total U.S. Treasury Obligation | 60 | |||||||
|
| |||||||
Shares | ||||||||
Exchange-Traded Fund — 0.04% |
| |||||||
3,179 | iShares Russell 1000 ETF | 441 | ||||||
|
| |||||||
Total Exchange-Traded Fund | 441 | |||||||
|
| |||||||
Investment Company — 9.38% |
| |||||||
108,923,702 | State Street Institutional Treasury Plus Money Market Fund, | 108,924 | ||||||
|
| |||||||
Total Investment Company | 108,924 | |||||||
|
| |||||||
Total Investments | 1,152,091 | |||||||
Other assets in excess of | 8,777 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 1,160,868 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Representsnon-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
REIT — Real Estate Investment Trust
See accompanying notes to financial statements.
38
Table of Contents
HC CAPITAL TRUST
The Institutional Growth Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Institutional Growth Equity Portfolio | Jennison Associates, LLC | Mellon Investments Corporation* | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 21.32 | % | 68.49 | % | — | — | 89.81 | % | ||||||||||||
U.S. Treasury Obligation | — | 0.01 | % | — | — | 0.01 | % | |||||||||||||
Exchange-Traded Fund | — | 0.04 | % | — | — | 0.04 | % | |||||||||||||
Investment Company | — | 0.20 | % | 8.28 | % | 0.90 | % | 9.38 | % | |||||||||||
Other Assets (Liabilities) | 0.05 | % | 0.04 | % | 0.67 | % | 0.00 | % | 0.76 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Net Assets | 21.37 | % | 68.78 | % | 8.95 | % | 0.90 | % | 100.00 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
E-Mini Nasdaq 100 Future | 407 | 3/15/19 | $ | 51,553 | $ | 1,868 | ||||||||||
E-Mini S&P 500 Future | 435 | 3/15/19 | 54,488 | 2,433 | ||||||||||||
E-Mini S&P Midcap 400 Future | 48 | 3/15/19 | 7,978 | 277 | ||||||||||||
|
|
|
| |||||||||||||
$ | 114,019 | $ | 4,578 | |||||||||||||
|
|
|
| |||||||||||||
Total Unrealized Appreciation | $ | 4,578 | ||||||||||||||
Total Unrealized Depreciation | — | |||||||||||||||
|
| |||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) | $ | 4,578 | ||||||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
39
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 93.40% |
| |||||||
Aerospace & Defense — 1.07% |
| |||||||
9,000 | CPI Aerostructures, Inc. (a) | $ | 57 | |||||
2,299 | Cubic Corp. | 124 | ||||||
1,610 | Curtiss-Wright Corp. | 164 | ||||||
118 | Ducommun, Inc. (a) | 4 | ||||||
15,044 | Kratos Defense & Security Solutions, Inc. (a) | 212 | ||||||
1,580 | Maxar Technologies Ltd. | 19 | ||||||
26 | National Presto Industries, Inc. | 3 | ||||||
1,403 | Sparton Corp. (a) | 26 | ||||||
850 | Teledyne Technologies, Inc. (a) | 176 | ||||||
3,535 | Triumph Group, Inc. | 41 | ||||||
7,353 | Wesco Aircraft Holdings, Inc. (a) | 58 | ||||||
|
| |||||||
884 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.05% |
| |||||||
9,240 | Radiant Logistics, Inc. (a) | 39 | ||||||
|
| |||||||
Airlines — 3.44% |
| |||||||
15,770 | American Airlines Group, Inc. | 506 | ||||||
15,057 | Azul SA, ADR (a) | 417 | ||||||
4,205 | Hawaiian Holdings, Inc. | 111 | ||||||
15,456 | JetBlue Airways Corp. (a) | 248 | ||||||
16,427 | Mesa Air Group, Inc. (a) | 127 | ||||||
13,960 | United Continental Holdings, Inc. (a) | 1,169 | ||||||
50,007 | Volaris Aviation Holding Co., ADR (a) | 268 | ||||||
|
| |||||||
2,846 | ||||||||
|
| |||||||
Auto Components — 0.84% |
| |||||||
4,897 | American Axle & Manufacturing Holdings, Inc. (a) | 54 | ||||||
2,600 | Cooper Tire & Rubber Co. | 84 | ||||||
17,779 | Dana Holding Corp. | 242 | ||||||
7,079 | Modine Manufacturing Co. (a) | 77 | ||||||
2,120 | Motorcar Parts of America, Inc. (a) | 35 | ||||||
5,934 | Shiloh Industries, Inc. (a) | 35 | ||||||
5,587 | Strattec Security Corp. | 161 | ||||||
90 | Tower International, Inc. | 2 | ||||||
|
| |||||||
690 | ||||||||
|
| |||||||
Banks — 5.77% |
| |||||||
620 | 1st Constitution BanCorp | 12 | ||||||
52 | 1st Source, Inc. | 2 | ||||||
66 | American National Bankshares, Inc. | 2 | ||||||
11,900 | Associated Banc-Corp. | 236 | ||||||
880 | Bank of Commerce Holdings | 10 | ||||||
4,690 | Banner Corp. | 251 | ||||||
38 | C&F Financial Corp. | 2 | ||||||
1,020 | CB Financial Services, Inc. | 25 | ||||||
3,079 | Centerstate Bank Corp. | 65 | ||||||
56 | Chemung Financial Corp. | 2 | ||||||
92 | CNB Financial Corp. | 2 | ||||||
11,887 | Columbia Banking System, Inc. | 431 | ||||||
1,208 | Community Bankers Trust Corp. (a) | 9 | ||||||
340 | Community Financial Corp. (The) | 10 | ||||||
48 | Community Trust Bancorp, Inc. | 2 | ||||||
298 | County Bancorp, Inc. | 5 | ||||||
3,445 | Cullen/Frost Bankers, Inc. | 303 | ||||||
2,192 | Enterprise Financial Services Corp. | 82 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) |
| |||||||
2,337 | Esquire Financial Holdings, Inc. (a)(b) | $ | 51 | |||||
104 | Fidelity Southern Corp. | 3 | ||||||
65 | Financial Institutions, Inc. | 2 | ||||||
95 | First Bancorp | 3 | ||||||
30,889 | First BanCorp | 266 | ||||||
731 | First Business Financial Services, Inc. | 14 | ||||||
7 | First Citizens BancShares, Inc., Class – A | 3 | ||||||
77 | First Community Bancshares, Inc. | 2 | ||||||
882 | First Community Corp. | 17 | ||||||
106 | First Financial BanCorp | 3 | ||||||
46 | First Financial Corp. | 2 | ||||||
1,634 | First Financial Northwest, Inc. | 25 | ||||||
11,739 | First Horizon National Corp. | 154 | ||||||
61 | First Interstate BancSystem, Inc., Class – A | 2 | ||||||
7,256 | First Midwest Bancorp, Inc. | 144 | ||||||
848 | First Northwest BanCorp | 13 | ||||||
735 | First Savings Financial Group, Inc. (b) | 38 | ||||||
3,171 | First United Corp. (b) | 50 | ||||||
46 | Great Southern Bancorp, Inc. | 2 | ||||||
63 | Hancock Holding Co. | 2 | ||||||
48 | Heartland Financial USA, Inc. | 2 | ||||||
15,411 | Hope Bancorp, Inc. | 183 | ||||||
148 | Horizon Bancorp, Inc. | 2 | ||||||
2,191 | Iberiabank Corp. | 141 | ||||||
116 | Independent Bank Corp. | 2 | ||||||
63 | International Bancshares Corp. | 2 | ||||||
6,730 | Investors Bancorp, Inc. | 70 | ||||||
148 | Lakeland Bancorp, Inc. | 2 | ||||||
50 | National Bankshares, Inc. | 2 | ||||||
61 | Northrim BanCorp, Inc. | 2 | ||||||
133 | Old National Bancorp | 2 | ||||||
2,304 | Pacific Premier Bancorp, Inc. (a) | 59 | ||||||
7,195 | PacWest Bancorp | 239 | ||||||
79 | Peoples Bancorp, Inc. | 2 | ||||||
5,762 | Popular, Inc. | 271 | ||||||
141 | Premier Financial Bancorp, Inc. | 2 | ||||||
14,170 | Seacoast Banking Corporation of Florida (a) | 369 | ||||||
309 | Select BanCorp, Inc. (a) | 4 | ||||||
102 | Sierra Bancorp | 2 | ||||||
936 | Spirit of Texas Bancshares, Inc. (a) | 21 | ||||||
5,061 | Synovus Financial Corp. | 162 | ||||||
6,923 | TCF Financial Corp. | 135 | ||||||
2,187 | Texas Capital Bancshares, Inc. (a) | 112 | ||||||
4,933 | TriCo Bancshares | 167 | ||||||
101 | Triumph Bancorp, Inc. (a) | 3 | ||||||
67 | Trustmark Corp. | 2 | ||||||
109 | Umpqua Holdings Corp. | 2 | ||||||
11,535 | Webster Financial Corp. | 570 | ||||||
|
| |||||||
4,779 | ||||||||
|
| |||||||
Biotechnology — 3.67% |
| |||||||
1,895 | Acceleron Pharma, Inc. (a) | 83 | ||||||
2,798 | Aeglea BioTherapeutics, Inc. (a) | 21 | ||||||
3,580 | Aldeyra Therapeutics, Inc. (a) | 30 | ||||||
41 | Aptevo Therapeutics, Inc. (a) | — | ||||||
4,243 | Array BioPharma, Inc. (a) | 60 |
See accompanying notes to financial statements.
40
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Biotechnology (continued) |
| |||||||
1,727 | Ascendis Pharma A/S, ADR (a) | $ | 108 | |||||
6,461 | Calithera Biosciences, Inc. (a) | 26 | ||||||
4,488 | Catalyst Biosciences, Inc. (a) | 35 | ||||||
9,769 | Conatus Pharmaceuticals, Inc. | 17 | ||||||
30,860 | CTI BioPharma Corp. (a) | 23 | ||||||
2,200 | Emergent BioSolutions, Inc. (a) | 130 | ||||||
2,348 | Exact Sciences Corp. (a) | 148 | ||||||
2,727 | Fibrogen, Inc. (a) | 126 | ||||||
1,583 | Genomic Health, Inc. (a) | 102 | ||||||
24,268 | GTX, Inc.^ (a) | 19 | ||||||
580 | Ionis Pharmaceuticals, Inc. (a) | 31 | ||||||
23,900 | Kindred Biosciences, Inc. (a) | 262 | ||||||
383 | Ligand Pharmaceuticals, Inc., Class – B (a) | 52 | ||||||
868 | Loxo Oncology, Inc. (a) | 122 | ||||||
519 | Madrigal Pharmaceuticals, Inc. (a) | 59 | ||||||
8,866 | Myriad Genetics, Inc. (a) | 258 | ||||||
3,603 | Natera, Inc. (a) | 50 | ||||||
1,780 | Neurocrine Biosciences, Inc. (a) | 127 | ||||||
26,996 | NewLink Genetics Corp. (a) | 41 | ||||||
638 | Ovid Therapeutics, Inc. (a) | 2 | ||||||
12,029 | Pfenex, Inc. (a) | 38 | ||||||
2,961 | Proteostasis Therapeutics, Inc. (a) | 10 | ||||||
9,942 | Recro Pharma, Inc. (a) | 71 | ||||||
5,180 | Repligen Corp. (a) | 273 | ||||||
560 | Sage Therapeutics, Inc. (a) | 54 | ||||||
5,441 | Sangamo BioSciences, Inc. (a) | 62 | ||||||
1,608 | Seattle Genetics, Inc. (a) | 91 | ||||||
890 | Spark Therapeutics, Inc. (a) | 35 | ||||||
860 | Syndax Pharmaceuticals, Inc. (a) | 4 | ||||||
5,443 | Tesaro, Inc. (a) | 403 | ||||||
4,694 | Xoma Corp.^ (a) | 59 | ||||||
|
| |||||||
3,032 | ||||||||
|
| |||||||
Building Products — 1.34% |
| |||||||
6,525 | Gibraltar Industries, Inc. (a) | 232 | ||||||
14,417 | Jeld-Wen Holding, Inc. (a) | 205 | ||||||
4,476 | Masonite International Corp. (a) | 201 | ||||||
3,267 | NCI Building Systems, Inc. (a) | 24 | ||||||
5,701 | Trex Company, Inc. (a) | 338 | ||||||
4,158 | Universal Forest Products, Inc. | 108 | ||||||
|
| |||||||
1,108 | ||||||||
|
| |||||||
Capital Markets — 2.35% |
| |||||||
7,147 | Artisan Partners Asset Management, Inc., Class – A | 158 | ||||||
878 | Ashford, Inc. (a) | 46 | ||||||
4,711 | Blucora, Inc. (a) | 126 | ||||||
10,000 | Capital Southwest Corp. | 192 | ||||||
15,375 | Cowen Group, Inc., Class – A (a) | 204 | ||||||
7,523 | Greenhill & Co., Inc. | 184 | ||||||
128 | Hamilton Lane, Inc. | 5 | ||||||
75 | Houlihan Lokey, Inc. | 3 | ||||||
5,102 | LPL Financial Holdings, Inc. | 311 | ||||||
3,287 | Raymond James Financial, Inc. | 244 | ||||||
21,800 | Safeguard Scientifics, Inc. (a) | 188 | ||||||
203 | Silvercrest Asset Management Group, Inc. | 3 |
Shares | Security Description | Value (000) | ||||||
Capital Markets (continued) |
| |||||||
3,724 | Stifel Financial Corp. | $ | 154 | |||||
6,729 | Waddell & Reed Financial, Inc., Class – A | 122 | ||||||
|
| |||||||
1,940 | ||||||||
|
| |||||||
Chemicals — 2.09% |
| |||||||
2,483 | Albemarle Corp. | 191 | ||||||
48 | Cabot Corp. | 2 | ||||||
28,180 | Flotek Industries, Inc. (a) | 31 | ||||||
6,548 | FMC Corp. | 484 | ||||||
158 | Huntsman Corp. | 3 | ||||||
1,735 | Innophos Holdings, Inc. | 43 | ||||||
11,977 | Kraton Performance Polymers, Inc. (a) | 262 | ||||||
4,062 | Kronos Worldwide, Inc. | 47 | ||||||
8,001 | LSB Industries, Inc. (a) | 44 | ||||||
669 | NewMarket Corp. | 276 | ||||||
18,733 | Platform Specialty Products Corp. (a) | 194 | ||||||
57 | Stepan Co. | 4 | ||||||
47 | Trinseo SA | 2 | ||||||
18,651 | Tronox Ltd., Class – A | 145 | ||||||
35 | Westlake Chemical Corp. | 2 | ||||||
|
| |||||||
1,730 | ||||||||
|
| |||||||
Commercial Services & Supplies — 1.68% |
| |||||||
2,734 | ABM Industries, Inc. | 88 | ||||||
325 | ACCO Brands Corp. | 2 | ||||||
28,905 | Aqua Metals, Inc. (a) | 53 | ||||||
9,512 | ARC Document Solutions, Inc. (a) | 19 | ||||||
7,424 | CECO Environmental Corp. (a) | 50 | ||||||
16,074 | Covanta Holding Corp. | 216 | ||||||
93 | Ennis, Inc. | 2 | ||||||
17,836 | Essendant, Inc. | 225 | ||||||
1,060 | HNI Corp. | 38 | ||||||
13,748 | Interface, Inc. | 196 | ||||||
3,329 | McGrath RentCorp | 171 | ||||||
2,173 | Multi-Color Corp. | 76 | ||||||
3,180 | Quad Graphics, Inc. | 39 | ||||||
14,122 | Steelcase, Inc., Class – A | 209 | ||||||
15 | UniFirst Corp. | 2 | ||||||
48 | VSE Corp. | 1 | ||||||
|
| |||||||
1,387 | ||||||||
|
| |||||||
Communications Equipment — 1.12% |
| |||||||
7,622 | Acacia Communications, Inc. (a) | 289 | ||||||
13,195 | Aerohive Networks, Inc. (a) | 43 | ||||||
3,032 | Casa Systems, Inc. (a) | 40 | ||||||
6,204 | Ciena Corp. (a) | 210 | ||||||
673 | Clearfield, Inc. (a) | 7 | ||||||
129 | Comtech Telecommunications Corp. | 3 | ||||||
682 | DASAN Zhone Solutions, Inc. (a) | 9 | ||||||
33,714 | EMCORE Corp. (a) | 142 | ||||||
2,560 | Lumentum Holdings, Inc. (a) | 108 | ||||||
18,100 | PC-Telephone, Inc. | 78 | ||||||
|
| |||||||
929 | ||||||||
|
| |||||||
Construction & Engineering — 2.40% |
| |||||||
1,546 | Ameresco, Inc., Class – A (a) | 22 | ||||||
38 | Arcosa, Inc. (a) | 1 | ||||||
3,625 | Granite Construction, Inc. | 146 |
See accompanying notes to financial statements.
41
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Construction & Engineering (continued) |
| |||||||
35,921 | KBR, Inc. | $ | 545 | |||||
10,714 | MasTec, Inc. (a) | 435 | ||||||
107 | MYR Group, Inc. (a) | 3 | ||||||
3,741 | Orion Group Holdings, Inc. (a) | 16 | ||||||
45,535 | Tutor Perini Corp. (a) | 727 | ||||||
9,043 | Willscot Corp. (a) | 85 | ||||||
|
| |||||||
1,980 | ||||||||
|
| |||||||
Construction Materials — 0.57% |
| |||||||
1,627 | Eagle Materials, Inc., Class – A | 99 | ||||||
32,249 | Forterra, Inc. (a) | 121 | ||||||
1,058 | Martin Marietta Materials, Inc. | 183 | ||||||
5,497 | Summit Materials, Inc., Class – A (a) | 68 | ||||||
|
| |||||||
471 | ||||||||
|
| |||||||
Consumer Finance — 0.57% |
| |||||||
68 | Encore Capital Group, Inc. (a) | 2 | ||||||
2,188 | Enova International, Inc. (a) | 43 | ||||||
2,149 | Green Dot Corp., Class – A (a) | 170 | ||||||
23,416 | LendingClub Corp. (a) | 62 | ||||||
43 | Nelnet, Inc., Class – A | 2 | ||||||
7,700 | PRA Group, Inc. (a) | 187 | ||||||
147 | Santander Consumer USA Holdings, Inc. | 3 | ||||||
|
| |||||||
469 | ||||||||
|
| |||||||
Containers & Packaging — 0.77% |
| |||||||
1,643 | AptarGroup, Inc. | 155 | ||||||
6,985 | Berry Plastics Group, Inc. (a) | 332 | ||||||
14,190 | Graphic Packaging Holding Co. | 151 | ||||||
|
| |||||||
638 | ||||||||
|
| |||||||
Distributors — 0.16% |
| |||||||
303 | Core-Mark Holding Co., Inc. | 7 | ||||||
830 | Pool Corp. | 123 | ||||||
|
| |||||||
130 | ||||||||
|
| |||||||
Diversified Consumer Services — 1.76% |
| |||||||
23,464 | Career Education Corp. (a) | 268 | ||||||
13,790 | Chegg, Inc. (a) | 392 | ||||||
2,890 | Grand Canyon Education, Inc. (a) | 278 | ||||||
4,266 | K12, Inc. (a) | 106 | ||||||
1,070 | Regis Corp. (a) | 18 | ||||||
2,913 | Strategic Education, Inc. | 330 | ||||||
1,697 | Weight Watchers International, Inc. (a) | 65 | ||||||
|
| |||||||
1,457 | ||||||||
|
| |||||||
Diversified Financial Services — 0.39% |
| |||||||
62 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 1 | ||||||
9,830 | Jefferies Financial Group, Inc. | 171 | ||||||
99 | Marlin Business Services Corp. | 2 | ||||||
25,649 | On Deck Capital, Inc. (a) | 151 | ||||||
|
| |||||||
325 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 1.02% |
| |||||||
10,951 | Cogent Communications Group, Inc. | 494 | ||||||
5,817 | IDT Corp. | 36 | ||||||
5,781 | Intelsat SA (a) | 124 | ||||||
136 | Iridium Communications, Inc. (a) | 3 | ||||||
22,600 | ORBCOMM, Inc. (a) | 187 | ||||||
|
| |||||||
844 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electric Utilities — 0.18% |
| |||||||
1,522 | El Paso Electric Co. | $ | 77 | |||||
3,048 | Genie Energy Ltd. | 18 | ||||||
98 | Hawaiian Electric Industries, Inc. | 4 | ||||||
651 | MGE Energy, Inc. | 39 | ||||||
158 | PNM Resources, Inc. | 6 | ||||||
73 | Portland General Electric Co. | 3 | ||||||
|
| |||||||
147 | ||||||||
|
| |||||||
Electrical Equipment — 0.61% |
| |||||||
5,376 | Bloom Energy Corp., Class – A^ (a) | 54 | ||||||
2,961 | Encore Wire Corp. | 148 | ||||||
1,012 | EnerSys | 79 | ||||||
39,100 | Orion Energy Systems, Inc.^ (a) | 22 | ||||||
6,717 | Sunrun, Inc. (a) | 73 | ||||||
3,488 | Vicor Corp. (a) | 132 | ||||||
|
| |||||||
508 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components — 3.99% |
| |||||||
4,828 | Anixter International, Inc. (a) | 262 | ||||||
75 | Benchmark Electronics, Inc. | 2 | ||||||
14,630 | Celestica, Inc. (a) | 128 | ||||||
34 | Dolby Laboratories, Inc., Class – A | 2 | ||||||
47 | ePlus, Inc. (a) | 3 | ||||||
3,045 | Fabrinet (a) | 157 | ||||||
23,705 | Flextronics International Ltd. (a) | 180 | ||||||
2,381 | II-VI, Inc. (a) | 77 | ||||||
4,068 | Insight Enterprises, Inc. (a) | 166 | ||||||
565 | IPG Photonics Corp. (a) | 64 | ||||||
12,832 | Iteris, Inc. (a) | 48 | ||||||
5,404 | Itron, Inc. (a) | 256 | ||||||
18,931 | Jabil Circuit, Inc. | 469 | ||||||
3,712 | KEMET Corp. | 65 | ||||||
131 | Kimball Electronics, Inc. (a) | 2 | ||||||
2,517 | Littelfuse, Inc. | 432 | ||||||
17,800 | Maxwell Technologies, Inc.^ (a) | 37 | ||||||
2,548 | Methode Electronics, Inc. | 59 | ||||||
1,066 | Novanta, Inc. (a) | 67 | ||||||
64 | PC Connection, Inc. | 2 | ||||||
3,113 | PCM, Inc. (a) | 55 | ||||||
10,500 | Perceptron, Inc. (a) | 85 | ||||||
37 | Plexus Corp. (a) | 2 | ||||||
4,416 | Rogers Corp. (a) | 437 | ||||||
59 | Sanmina Corp. (a) | 1 | ||||||
6,659 | ScanSource, Inc. (a) | 229 | ||||||
34 | SYNNEX Corp. | 3 | ||||||
22 | Tech Data Corp. (a) | 2 | ||||||
327 | TTM Technologies, Inc. (a) | 3 | ||||||
135 | Vishay Intertechnology, Inc. | 2 | ||||||
|
| |||||||
3,297 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.49% |
| |||||||
20,600 | Aspen Aerogels, Inc. (a) | 44 | ||||||
9,200 | Bristow Group, Inc.^ (a) | 22 | ||||||
9,006 | C&J Energy Services, Inc. (a) | 121 | ||||||
9,713 | Dawson Geophysical Co. (a) | 33 | ||||||
1,846 | Dril-Quip, Inc. (a) | 55 | ||||||
24,531 | Ensco PLC, Class – A, ADR | 87 |
See accompanying notes to financial statements.
42
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Energy Equipment & Services — (continued) |
| |||||||
97 | Exterran Corp. (a) | $ | 2 | |||||
2,874 | Franks International N.V. (a) | 15 | ||||||
5,800 | Gulf Island Fabrication, Inc. (a) | 42 | ||||||
8,700 | Helix Energy Solutions Group, Inc. (a) | 47 | ||||||
2,548 | Independence Contract Drilling, Inc. (a) | 8 | ||||||
1,706 | Mammoth Energy Services, Inc. | 31 | ||||||
33,200 | Mitcham Industries, Inc. (a) | 85 | ||||||
23,208 | Noble Corp. PLC (a) | 61 | ||||||
6,964 | PHI, Inc. (a) | 13 | ||||||
21,561 | Profire Energy, Inc. (a) | 31 | ||||||
3,867 | ProPetro Holding Corp. (a) | 48 | ||||||
19,066 | Smart Sand, Inc.^ (a) | 42 | ||||||
4,777 | Superior Energy Services, Inc. (a) | 16 | ||||||
5,818 | TechnipFMC PLC | 114 | ||||||
30,661 | Transocean Ltd. (a) | 213 | ||||||
9,700 | US Silica Holdings, Inc. | 99 | ||||||
|
| |||||||
1,229 | ||||||||
|
| |||||||
Entertainment — 0.51% |
| |||||||
2,542 | AMC Entertainment Holdings, Inc., Class – A | 31 | ||||||
60,200 | Ballantyne Strong, Inc. (a) | 69 | ||||||
68,969 | Global Eagle Entertainment, Inc. (a) | 155 | ||||||
9,371 | Lions Gate Entertainment Corp., Class – B | 139 | ||||||
88 | Marcus Corp. | 3 | ||||||
1,600 | Rosetta Stone, Inc. (a) | 26 | ||||||
|
| |||||||
423 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 2.07% |
| |||||||
2,510 | Alexander & Baldwin, Inc. (a) | 46 | ||||||
492 | Ashford Hospitality Trust | 2 | ||||||
6,576 | Bluerock Residential Growth REIT, Inc. | 59 | ||||||
14,484 | Cedar Realty Trust, Inc. | 45 | ||||||
3,270 | Clipper Realty, Inc. | 43 | ||||||
11,932 | Corporate Office Properties Trust | 251 | ||||||
3,859 | DiamondRock Hospitality Co. | 35 | ||||||
3,301 | EastGroup Properties, Inc. | 303 | ||||||
6,984 | Equity Commonwealth | 210 | ||||||
4,283 | Farmland Partners, Inc. | 19 | ||||||
2,774 | Gladstone Land Corp. | 32 | ||||||
6,912 | Global Medical REIT, Inc. | 61 | ||||||
3,640 | Global Net Lease, Inc. | 64 | ||||||
2,387 | Independence Realty Trust, Inc. | 22 | ||||||
1,775 | Industrial Logistics Property Trust | 35 | ||||||
1,824 | Innovative Industrial Properties, Inc. | 83 | ||||||
2,100 | Jernigan Capital, Inc. | 42 | ||||||
4,539 | Kite Realty Group Trust | 64 | ||||||
354 | Lexington Realty Trust | 3 | ||||||
4,361 | Monmouth Real Estate Investment Corp., Class – A | 54 | ||||||
3,219 | Pebblebrook Hotel Trust | 91 | ||||||
6,230 | Pennsylvania Real Estate Investment Trust | 37 | ||||||
24 | PS Business Parks, Inc. | 3 | ||||||
128 | RLJ Lodging Trust | 2 | ||||||
5,602 | Summit Hotel Properties, Inc. | 55 | ||||||
10,364 | Washington Prime Group, Inc. | 50 | ||||||
|
| |||||||
1,711 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Food & Staples Retailing — 0.52% |
| |||||||
2,494 | Casey’s General Stores, Inc. | $ | 320 | |||||
3,386 | Chefs’ Warehouse Holdings LLC (a) | 108 | ||||||
|
| |||||||
428 | ||||||||
|
| |||||||
Food Products — 0.69% |
| |||||||
41 | Cal-Maine Foods, Inc. | 2 | ||||||
7,847 | Darling Ingredients, Inc. (a) | 151 | ||||||
33 | Fresh Del Monte Produce, Inc. | 1 | ||||||
4,840 | Hostess Brands, Inc. (a) | 53 | ||||||
2,504 | J&J Snack Foods Corp. | 362 | ||||||
39 | John B. Sanfilippo & Son, Inc. | 2 | ||||||
|
| |||||||
571 | ||||||||
|
| |||||||
Gas Utilities — 0.59% |
| |||||||
339 | Chesapeake Utilities Corp. | 28 | ||||||
38 | Southwest Gas Corp. | 3 | ||||||
8,617 | UGI Corp. | 459 | ||||||
|
| |||||||
490 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 6.69% |
| |||||||
248 | Abiomed, Inc. (a) | 81 | ||||||
2,618 | AxoGen, Inc. (a) | 53 | ||||||
3,000 | Cantel Medical Corp. | 223 | ||||||
8,660 | Cardiovascular Systems, Inc. (a) | 247 | ||||||
3,643 | Dexcom, Inc. (a) | 436 | ||||||
2,568 | Edwards Lifesciences Corp. (a) | 393 | ||||||
3,367 | Glaukos Corp. (a) | 189 | ||||||
9,285 | Insulet Corp. (a) | 737 | ||||||
2,620 | iRhythm Technologies, Inc. (a) | 182 | ||||||
1,309 | LivaNova PLC (a) | 120 | ||||||
3,198 | Neogen Corp. (a) | 182 | ||||||
802 | Neuronetics, Inc. (a) | 16 | ||||||
5,747 | Novocure Ltd. (a) | 192 | ||||||
11,104 | STAAR Surgical Co. (a) | 354 | ||||||
1,725 | Steris PLC | 184 | ||||||
15,970 | Tandem Diabetes Care, Inc. (a) | 607 | ||||||
2,595 | The Cooper Companies, Inc. | 661 | ||||||
7,427 | Varex Imaging Corp. (a) | 176 | ||||||
4,945 | West Pharmaceutical Services, Inc. | 485 | ||||||
|
| |||||||
5,518 | ||||||||
|
| |||||||
Health Care Providers & Services — 1.93% |
| |||||||
9,339 | Acadia Healthcare Company, Inc. (a) | 240 | ||||||
9,537 | Aceto Corp. | 8 | ||||||
1,162 | Biotelemetry, Inc. (a) | 69 | ||||||
4,833 | Brookdale Senior Living, Inc. (a) | 32 | ||||||
3,710 | Capital Senior Living Corp. (a) | 25 | ||||||
13 | Chemed Corp. | 4 | ||||||
17,554 | Diplomat Pharmacy, Inc. (a) | 236 | ||||||
1,694 | Encompass Health Corp. | 105 | ||||||
1,578 | Guardant Health, Inc. (a) | 58 | ||||||
2,451 | HealthEquity, Inc. (a) | 146 | ||||||
2,604 | LHC Group, Inc. (a) | 245 | ||||||
27 | Magellan Health Services, Inc. (a) | 2 | ||||||
5,449 | MEDNAX, Inc. (a) | 180 | ||||||
36 | Molina Heathcare, Inc. (a) | 4 | ||||||
29 | National Healthcare Corp. | 2 | ||||||
39 | Providence Service Corp. (a) | 2 |
See accompanying notes to financial statements.
43
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Providers & Services (continued) |
| |||||||
13,004 | Quorum Health Corp. (a) | $ | 38 | |||||
7,005 | RadNet, Inc. (a) | 71 | ||||||
164 | Select Medical Holdings Corp. (a) | 3 | ||||||
86 | The Ensign Group, Inc. | 3 | ||||||
6,930 | Triple-S Management Corp., Class – A (a) | 121 | ||||||
|
| |||||||
1,594 | ||||||||
|
| |||||||
Health Care Technology — 0.69% |
| |||||||
655 | Medidata Solutions, Inc. (a) | 44 | ||||||
3,964 | Omnicell, Inc. (a) | 243 | ||||||
5,650 | Teladoc, Inc. (a) | 280 | ||||||
|
| |||||||
567 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.47% |
| |||||||
231 | BJ’s Restaurant, Inc. | 12 | ||||||
156 | Bloomin’ Brands, Inc. | 3 | ||||||
1,279 | Brinker International, Inc. | 56 | ||||||
41,600 | Century Casinos, Inc. (a) | 307 | ||||||
937 | DineEquity, Inc. | 63 | ||||||
54 | International Speedway Corp., Class – A | 2 | ||||||
1,184 | J Alexander’s Holdings, Inc. (a) | 10 | ||||||
1,522 | Papa John’s International, Inc. | 61 | ||||||
100 | Penn National Gaming, Inc. (a) | 2 | ||||||
4,191 | Planet Fitness, Inc., Class – A (a) | 225 | ||||||
5,697 | The Habit Restaurants, Inc. (a) | 60 | ||||||
1,522 | Vail Resorts, Inc. | 320 | ||||||
1,426 | Wingstop, Inc. | 92 | ||||||
|
| |||||||
1,213 | ||||||||
|
| |||||||
Household Durables — 1.58% |
| |||||||
423 | Cavco Industries, Inc. (a) | 55 | ||||||
5,605 | Century Communities, Inc. (a) | 97 | ||||||
25,900 | Green Brick Partners, Inc. (a) | 188 | ||||||
3,801 | iRobot Corp. (a) | 318 | ||||||
3,057 | KB Home | 58 | ||||||
2,831 | LGI Homes, Inc.^ (a) | 128 | ||||||
7,087 | Libbey, Inc. | 27 | ||||||
1,795 | Lifetime Brands, Inc. | 18 | ||||||
667 | MDC Holdings, Inc. | 19 | ||||||
1,790 | Purple Innovation, Inc.^ (a)(b) | 11 | ||||||
1,524 | Skyline Champion Corp. | �� | 22 | |||||
128 | Taylor Morrison Home Corp., Class – A (a) | 2 | ||||||
7,829 | The New Home Co., Inc. (a) | 41 | ||||||
1,592 | TopBuild Corp. (a) | 72 | ||||||
2,407 | Tupperware Brands Corp. | 76 | ||||||
6,856 | Universal Electronics, Inc. (a) | 173 | ||||||
|
| |||||||
1,305 | ||||||||
|
| |||||||
Household Products — 0.00% |
| |||||||
33 | Central Garden & Pet Co. (a) | 1 | ||||||
35 | Central Garden & Pet Co., Class – A (a) | 1 | ||||||
|
| |||||||
2 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers — 0.19% |
| |||||||
3,698 | Clearway Energy, Inc., Class – A | 63 | ||||||
1,478 | Clearway Energy, Inc., Class – C | 25 | ||||||
3,840 | Pattern Energy Group, Inc. | 72 | ||||||
|
| |||||||
160 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Insurance — 3.48% |
| |||||||
6,188 | American Equity Investment Life Holding Co. | $ | 173 | |||||
5,790 | American Financial Group, Inc. | 525 | ||||||
5,340 | Argo Group International Holdings Ltd. | 360 | ||||||
4,771 | Aspen Insurance Holdings Ltd. | 200 | ||||||
10,100 | Atlas Financial Holdings, Inc. (a) | 82 | ||||||
5,248 | AXIS Capital Holdings Ltd. | 271 | ||||||
54 | Employers Holdings, Inc. | 2 | ||||||
1,301 | Everest Re Group Ltd. | 283 | ||||||
4,000 | First American Financial Corp. | 179 | ||||||
9,902 | Goosehead Insurance, Inc. (a) | 260 | ||||||
924 | Hallmark Financial Services, Inc. (a) | 10 | ||||||
1,554 | Hanover Insurance Group, Inc. | 181 | ||||||
1,357 | Kemper Corp. | 90 | ||||||
798 | Kingstone Cos., Inc. | 14 | ||||||
8,963 | Maiden Holdings Ltd. | 15 | ||||||
79 | Universal Insurance Holdings, Inc. | 3 | ||||||
2,980 | W.R. Berkley Corp. | 220 | ||||||
|
| |||||||
2,868 | ||||||||
|
| |||||||
Interactive Media & Services — 0.47% |
| |||||||
1,886 | Care.com, Inc. (a) | 36 | ||||||
2,718 | Cars.com, Inc. (a) | 58 | ||||||
126 | Match Group, Inc. | 5 | ||||||
11,353 | QuinStreet, Inc. (a) | 185 | ||||||
22,715 | The Meet Group, Inc. (a) | 106 | ||||||
|
| |||||||
390 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.46% |
| |||||||
185 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 2 | ||||||
4,003 | Etsy, Inc. (a) | 190 | ||||||
966 | GrubHub, Inc. (a) | 74 | ||||||
21,460 | Remark Holdings, Inc.^ (a) | 26 | ||||||
5,303 | Stitch Fix, Inc., Class – A^ (a) | 91 | ||||||
|
| |||||||
383 | ||||||||
|
| |||||||
IT Services — 2.35% |
| |||||||
58,313 | Alithya Group, Inc. (a) | 138 | ||||||
1,534 | Alliance Data Systems Corp. | 230 | ||||||
62 | Booz Allen Hamilton Holding Corp. | 3 | ||||||
36,077 | Brightcove, Inc. (a) | 254 | ||||||
20 | CACI International, Inc., Class – A (a) | 3 | ||||||
1,987 | Carbonite, Inc. (a) | 50 | ||||||
46 | Cass Information Systems, Inc. | 2 | ||||||
47 | CoreLogic, Inc. (a) | 2 | ||||||
46 | CSG Systems International, Inc. | 1 | ||||||
2,321 | Euronet Worldwide, Inc. (a) | 238 | ||||||
6,796 | EVERTEC, Inc. | 195 | ||||||
2,314 | Global Payments, Inc. | 239 | ||||||
2,008 | GTT Communications, Inc.^ (a) | 48 | ||||||
1,383 | Information Services Group, Inc. (a) | 6 | ||||||
4,017 | Jack Henry & Associates, Inc. | 507 | ||||||
38 | Leidos Holdings, Inc. | 2 | ||||||
49 | ManTech International Corp., Class – A | 3 | ||||||
88 | Perficient, Inc. (a) | 2 | ||||||
32 | Science Applications International Corp. | 2 | ||||||
61 | Sykes Enterprises, Inc. (a) | 2 | ||||||
135 | The Hackett Group, Inc. | 2 |
See accompanying notes to financial statements.
44
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IT Services (continued) |
| |||||||
143 | Travelport Worldwide Ltd. | $ | 2 | |||||
69 | TTEC Holdings, Inc. | 2 | ||||||
|
| |||||||
1,933 | ||||||||
|
| |||||||
Leisure Products — 0.54% |
| |||||||
9,600 | Callaway Golf Co. | 147 | ||||||
111 | Johnson Outdoors, Inc., Class – A | 7 | ||||||
25,601 | Vista Outdoor, Inc. (a) | 290 | ||||||
|
| |||||||
444 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.87% |
| |||||||
19 | Bio-Rad Laboratories, Inc., Class – A (a) | 4 | ||||||
102 | Bruker Biosciences Corp. | 3 | ||||||
2,503 | Cambrex Corp. (a) | 95 | ||||||
113 | Luminex Corp. | 3 | ||||||
21,104 | NeoGenomics, Inc. (a) | 266 | ||||||
13,452 | Pacific Biosciences of California, Inc. (a) | 100 | ||||||
58 | PRA Health Sciences, Inc. (a) | 5 | ||||||
6,895 | Qiagen N.V. (a) | 238 | ||||||
|
| |||||||
714 | ||||||||
|
| |||||||
Machinery — 3.60% |
| |||||||
11,908 | Actuant Corp., Class – A | 250 | ||||||
48 | AGCO Corp. | 3 | ||||||
1,916 | Albany International Corp., Class – A | 120 | ||||||
4,601 | Chart Industries, Inc. (a) | 299 | ||||||
168 | Columbus McKinnon Corp. | 5 | ||||||
83 | Global Brass & Copper Holdings, Inc. | 2 | ||||||
553 | Harsco Corp. (a) | 11 | ||||||
3,059 | IDEX Corp. | 385 | ||||||
1,220 | ITT, Inc. | 59 | ||||||
368 | Kadant, Inc. | 30 | ||||||
16,819 | Kornit Digital Ltd. (a) | 315 | ||||||
3,904 | Lincoln Electric Holdings, Inc. | 307 | ||||||
16,533 | Meritor, Inc. (a) | 280 | ||||||
151 | Miller Industries, Inc. | 4 | ||||||
47 | Oshkosh Corp. | 3 | ||||||
1,771 | Proto Labs, Inc. (a) | 200 | ||||||
16,206 | REV Group, Inc. | 122 | ||||||
1,977 | SPX FLOW, Inc. (a) | 60 | ||||||
4,026 | Terex Corp. | 111 | ||||||
1,481 | The Greenbrier Companies, Inc. | 59 | ||||||
9,010 | TriMas Corp. (a) | 246 | ||||||
116 | Trinity Industries, Inc. | 2 | ||||||
150 | Wabash National Corp. | 2 | ||||||
940 | WABCO Holdings, Inc. (a) | 101 | ||||||
|
| |||||||
2,976 | ||||||||
|
| |||||||
Marine — 0.30% |
| |||||||
2,650 | Kirby Corp. (a) | 179 | ||||||
2,158 | Matson, Inc. | 69 | ||||||
|
| |||||||
248 | ||||||||
|
| |||||||
Media — 0.46% |
| |||||||
10,729 | Cardlytics, Inc. (a) | 115 | ||||||
11,574 | Fluent, Inc. (a) | 42 | ||||||
5,607 | Gray Television, Inc. (a) | 83 | ||||||
2,772 | MSG Networks, Inc., Class – A (a) | 65 |
Shares | Security Description | Value (000) | ||||||
Media (continued) |
| |||||||
363 | Scholastic Corp. | $ | 15 | |||||
8,565 | Wideopenwest, Inc. (a) | 61 | ||||||
|
| |||||||
381 | ||||||||
|
| |||||||
Metals & Mining — 2.56% |
| |||||||
5,446 | Agnico-Eagle Mines Ltd. | 220 | ||||||
31,610 | Allegheny Technologies, Inc. (a) | 689 | ||||||
7,987 | Carpenter Technology Corp. | 284 | ||||||
10,493 | Coeur d’Alene Mines Corp. (a) | 47 | ||||||
151 | Commercial Metals Co. | 2 | ||||||
2,014 | Compass Minerals International, Inc. | 84 | ||||||
48,583 | Ferroglobe PLC | 77 | ||||||
45,455 | Ferroglobe R&W Insurance Trust Co. | — | ||||||
767 | Kaiser Aluminum Corp. | 68 | ||||||
176,955 | Tahoe Resources, Inc. (a) | 646 | ||||||
|
| |||||||
2,117 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.26% |
| |||||||
81 | Apollo Commercial Real Estate Finance, Inc. | 1 | ||||||
3,214 | Ellington Residential Mortgage REIT | 33 | ||||||
2,578 | Ladder Capital Corp. | 40 | ||||||
307 | New Residential Investment Corp. | 4 | ||||||
8,825 | Redwood Trust, Inc. | 133 | ||||||
|
| |||||||
211 | ||||||||
|
| |||||||
Multiline Retail — 0.05% |
| |||||||
36 | Big Lots, Inc. | 1 | ||||||
39 | Dillard’s, Inc., Class – A | 2 | ||||||
22,194 | Fred’s, Inc., Class – A^ (a) | 42 | ||||||
|
| |||||||
45 | ||||||||
|
| |||||||
Multi-Utilities — 0.01% |
| |||||||
124 | Avista Corp. | 5 | ||||||
121 | Unitil Corp. | 6 | ||||||
|
| |||||||
11 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.46% |
| |||||||
3,175 | Ardmore Shipping Corp. (a) | 15 | ||||||
2,576 | California Resources Corp. (a) | 44 | ||||||
6,804 | Carrizo Oil & Gas, Inc. (a) | 77 | ||||||
20,740 | Centennial Resource Development, Inc. (a) | 228 | ||||||
912 | CONSOL Energy, Inc. (a) | 29 | ||||||
14,257 | Contango Oil & Gas Co. (a) | 46 | ||||||
267 | Delek US Holdings, Inc. | 9 | ||||||
20,764 | Denbury Resources, Inc. (a) | 36 | ||||||
1,474 | Diamondback Energy, Inc. | 137 | ||||||
136,440 | Enbridge Energy Management LLC (b) | — | ||||||
20,899 | Energy Fuels, Inc.^ (a) | 60 | ||||||
27,945 | Euronav N.V. | 194 | ||||||
16,986 | GasLog Ltd. | 279 | ||||||
5,643 | Golar LNG Ltd. | 123 | ||||||
4,763 | Goodrich Petroleum Corp. (a)(b) | 64 | ||||||
3,347 | Jagged Peak Energy, Inc. (a) | 31 | ||||||
5,057 | Matador Resources Co. (a) | 79 | ||||||
5,637 | Murphy Oil Corp. | 132 | ||||||
15,725 | Navigator Holdings Ltd. (a) | 148 | ||||||
4,805 | PDC Energy, Inc. (a) | 142 | ||||||
7,704 | SM Energy Co. | 119 | ||||||
9,701 | W&T Offshore, Inc. (a) | 40 | ||||||
|
| |||||||
2,032 | ||||||||
|
|
See accompanying notes to financial statements.
45
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Paper & Forest Products — 0.04% |
| |||||||
67 | Domtar Corp. | $ | 2 | |||||
1,490 | Verso Corp. (a) | 34 | ||||||
|
| |||||||
36 | ||||||||
|
| |||||||
Personal Products — 0.06% |
| |||||||
16 | Nu Skin Enterprises, Inc., Class – A | 1 | ||||||
2,008 | Revlon, Inc., Class – A (a) | 51 | ||||||
|
| |||||||
52 | ||||||||
|
| |||||||
Pharmaceuticals — 0.98% |
| |||||||
6,532 | Amneal Pharmaceuticals, Inc. (a) | 88 | ||||||
122 | Catalent, Inc. (a) | 4 | ||||||
13,400 | Cumberland Pharmaceuticals, Inc. (a) | 84 | ||||||
8,573 | ENDO International PLC (a) | 63 | ||||||
5,223 | Horizon Pharma PLC (a) | 103 | ||||||
3,947 | Mallinckrodt PLC (a) | 62 | ||||||
922 | Myokardia, Inc. (a) | 45 | ||||||
2,500 | Nektar Therapeutics (a) | 82 | ||||||
200 | Omthera Pharmaceuticals, Inc. (a) | — | ||||||
2,700 | Pacira Pharmaceuticals, Inc. (a) | 117 | ||||||
182 | Phibro Animal Health Corp., Class – A | 6 | ||||||
11,480 | scPharmaceuticals, Inc. (a)(b) | 43 | ||||||
14,794 | Teligent, Inc. (a) | 20 | ||||||
24,262 | Tetraphase Pharmaceuticals, Inc. (a) | 27 | ||||||
70 | The Medicines Co. (a) | 1 | ||||||
1,749 | Zogenix, Inc. (a) | 64 | ||||||
|
| |||||||
809 | ||||||||
|
| |||||||
Professional Services — 0.68% |
| |||||||
3,237 | CBIZ, Inc. (a) | 64 | ||||||
286 | ICF International, Inc. | 19 | ||||||
2,379 | Kelly Services, Inc., Class – A | 49 | ||||||
982 | Kforce, Inc. | 30 | ||||||
2,142 | Korn Ferry International | 84 | ||||||
6,089 | Navigant Consulting, Inc. | 145 | ||||||
2,460 | TrueBlue, Inc. (a) | 55 | ||||||
1,824 | WageWorks, Inc. (a) | 50 | ||||||
1,821 | Willdan Group, Inc. (a) | 64 | ||||||
|
| |||||||
560 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.38% |
| |||||||
5,747 | Newmark Group, Inc., Class – A | 46 | ||||||
40 | Rafael Holdings, Inc., Class – B (a) | — | ||||||
7,170 | Realogy Holdings Corp. | 106 | ||||||
4,359 | Redfin Corp.^ (a) | 63 | ||||||
6,225 | Tejon Ranch Co. (a) | 103 | ||||||
|
| |||||||
318 | ||||||||
|
| |||||||
Road & Rail — 0.80% |
| |||||||
93 | ArcBest Corp. | 3 | ||||||
7,732 | Avis Budget Group, Inc. (a) | 174 | ||||||
84 | Covenant Transportation Group, Inc., Class – A (a) | 2 | ||||||
6,652 | Knight-Swift Transportation Holdings, Inc. | 167 | ||||||
103 | P.A.M. Transportation Services, Inc. (a) | 4 | ||||||
4,259 | Ryder System, Inc. | 204 | ||||||
1,217 | Saia, Inc. (a) | 68 | ||||||
1,908 | USA Truck, Inc. (a) | 29 |
Shares | Security Description | Value (000) | ||||||
Road & Rail (continued) |
| |||||||
3,492 | YRC Worldwide, Inc. (a) | $ | 11 | |||||
|
| |||||||
662 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 6.07% |
| |||||||
13,134 | Adesto Technologies Corp. (a) | 58 | ||||||
1,752 | Advanced Energy Industries, Inc. (a) | 75 | ||||||
4,563 | Advanced Micro Devices, Inc. (a) | 84 | ||||||
7,266 | Amkor Technology, Inc. (a) | 48 | ||||||
58 | Cirrus Logic, Inc. (a) | 2 | ||||||
140 | Cohu, Inc. | 2 | ||||||
5,334 | Cree, Inc. (a) | 228 | ||||||
1,243 | Cyberoptics Corp. (a) | 22 | ||||||
24,693 | Cypress Semiconductor Corp. | 314 | ||||||
109 | Diodes, Inc. (a) | 4 | ||||||
186 | Entegris, Inc. | 5 | ||||||
8,332 | FormFactor, Inc. (a) | 117 | ||||||
19,900 | GSI Technology, Inc. (a) | 102 | ||||||
5,396 | Inphi Corp. (a) | 173 | ||||||
7,991 | Integrated Device Technology, Inc. (a) | 387 | ||||||
6,254 | Kopin Corp. (a) | 6 | ||||||
18,206 | MA-COM Technology Solutions Holdings, Inc. (a) | 264 | ||||||
3,124 | Marvell Technology Group Ltd. | 51 | ||||||
4,429 | Maxim Integrated Products, Inc. | 225 | ||||||
1,930 | MKS Instruments, Inc. | 125 | ||||||
6,553 | Monolithic Power Systems, Inc. | 763 | ||||||
206 | ON Semiconductor Corp. (a) | 3 | ||||||
1,306 | Power Integrations, Inc. | 80 | ||||||
8,627 | Qorvo, Inc. (a) | 525 | ||||||
61,732 | QuickLogic Corp. (a) | 45 | ||||||
11,703 | Semtech Corp. (a) | 538 | ||||||
1,572 | Silicon Laboratories, Inc. (a) | 124 | ||||||
3,794 | Skyworks Solutions, Inc. | 254 | ||||||
367 | Ultra Clean Holdings, Inc. (a) | 3 | ||||||
3,122 | Universal Display Corp. | 292 | ||||||
12,464 | Veeco Instruments, Inc. (a) | 92 | ||||||
|
| |||||||
5,011 | ||||||||
|
| |||||||
Software — 7.33% |
| |||||||
4,686 | 2U, Inc. (a) | 233 | ||||||
4,071 | Alarm.com Holding, Inc. (a) | 211 | ||||||
1,959 | Alteryx, Inc. (a) | 117 | ||||||
8,081 | Benefitfocus, Inc. (a) | 369 | ||||||
8,897 | Blackline, Inc. (a) | 364 | ||||||
1,516 | Bottomline Technologies, Inc. (a) | 73 | ||||||
7,600 | Cloudera, Inc. (a) | 84 | ||||||
4,932 | Coupa Software, Inc. (a) | 310 | ||||||
35 | Ebix, Inc. | 1 | ||||||
3,185 | Ellie Mae, Inc. (a) | 200 | ||||||
406 | Everbridge, Inc. (a) | 23 | ||||||
83 | Fair Isaac Corp. (a) | 16 | ||||||
2,462 | Guidewire Software, Inc. (a) | 198 | ||||||
3,718 | Hortonworks, Inc. (a) | 54 | ||||||
3,020 | HubSpot, Inc. (a) | 380 | ||||||
29 | J2 Global, Inc. | 2 | ||||||
4,865 | Model N, Inc. (a) | 64 | ||||||
5,339 | New Relic, Inc. (a) | 433 |
See accompanying notes to financial statements.
46
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Software (continued) |
| |||||||
20,476 | Nuance Communications, Inc. (a) | $ | 271 | |||||
1,909 | Nutanix, Inc., Class – A (a) | 79 | ||||||
3,637 | Paylocity Holding Corp. (a) | 219 | ||||||
2,510 | Proofpoint, Inc. (a) | 210 | ||||||
5,081 | PTC, Inc. (a) | 422 | ||||||
990 | QAD, Inc., Class – A | 39 | ||||||
117,256 | RealNetworks, Inc. (a) | 271 | ||||||
2,850 | RingCentral, Inc., Class – A (a) | 235 | ||||||
16,700 | SeaChange International, Inc. (a) | 21 | ||||||
1,909 | Sendgrid, Inc. (a) | 82 | ||||||
2,946 | SS&C Technologies Holdings, Inc. | 133 | ||||||
37,200 | Synacor, Inc. (a) | 55 | ||||||
40,600 | Telenav, Inc. (a) | 165 | ||||||
779 | The Trade Desk, Inc. (a) | 90 | ||||||
40,520 | TiVo Corp. | 382 | ||||||
6,235 | Zscaler, Inc. (a) | 244 | ||||||
|
| |||||||
6,050 | ||||||||
|
| |||||||
Specialty Retail — 1.30% |
| |||||||
11,522 | Ascena Retail Group, Inc. (a) | 29 | ||||||
12,440 | Big 5 Sporting Goods Corp.^ | 32 | ||||||
8,538 | Boot Barn Holdings, Inc. (a) | 145 | ||||||
10,046 | Carvana Co. (a) | 330 | ||||||
2,276 | Conn’s, Inc. (a) | 43 | ||||||
17,381 | Francesca’s Holdings Corp. (a) | 17 | ||||||
5,060 | GameStop Corp., Class – A | 64 | ||||||
9,033 | GNC Holdings, Inc., Class – A (a) | 21 | ||||||
39 | Group 1 Automotive, Inc. | 2 | ||||||
10,371 | J. Jill, Inc. (a) | 55 | ||||||
610 | Monro Muffler Brake, Inc. | 42 | ||||||
16,843 | Office Depot, Inc. | 43 | ||||||
53 | Penske Automotive Group, Inc. | 2 | ||||||
98 | Sonic Automotive, Inc., Class – A | 1 | ||||||
15,823 | Tailored Brands, Inc. | 216 | ||||||
354 | The Buckle, Inc.^ | 7 | ||||||
4,960 | The Container Store Group, Inc. (a) | 24 | ||||||
293 | Tilly’s, Inc., Class – A | 3 | ||||||
|
| |||||||
1,076 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 0.12% |
| |||||||
5,100 | Astronova, Inc. | 96 | ||||||
14,200 | GlassBridge Enterprises, Inc. (a) | 2 | ||||||
|
| |||||||
98 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.91% |
| |||||||
2,472 | Columbia Sportswear Co. | 208 | ||||||
1,198 | Deckers Outdoor Corp. (a) | 153 | ||||||
12,805 | Lakeland Industries, Inc. (a) | 134 | ||||||
1,591 | Movado Group, Inc. | 50 | ||||||
6,374 | Wolverine World Wide, Inc. | 203 | ||||||
|
| |||||||
748 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance — 0.37% |
| |||||||
130 | Entegra Financial Corp. (a) | 3 | ||||||
522 | ESSA Bancorp, Inc. | 8 | ||||||
55 | Federal Agricultural Mortgage Corp., Class – C | 3 | ||||||
88 | First Defiance Financial Corp. | 2 |
Shares | Security Description | Value (000) | ||||||
Thrifts & Mortgage Finance (continued) |
| |||||||
79 | HomeStreet, Inc. (a) | $ | 2 | |||||
270 | Malvern BanCorp, Inc. (a) | 5 | ||||||
382 | MGIC Investment Corp. (a) | 4 | ||||||
1,696 | Mr Cooper Group, Inc. (a) | 20 | ||||||
4,468 | NMI Holdings, Inc. (a) | 80 | ||||||
132 | PennyMac Financial Services, Inc. | 3 | ||||||
588 | Prudential BanCorp, Inc. | 10 | ||||||
311 | Riverview BanCorp, Inc. | 2 | ||||||
1,202 | SI Financial Group, Inc. | 15 | ||||||
263 | TrustCo Bank Corp. NY | 2 | ||||||
85 | Walker & Dunlop, Inc. | 4 | ||||||
3,740 | WSFS Financial Corp. | 142 | ||||||
|
| |||||||
305 | ||||||||
|
| |||||||
Tobacco — 0.25% |
| |||||||
3,554 | Pyxus International, Inc.^ (a) | 42 | ||||||
3,012 | Universal Corp. | 163 | ||||||
|
| |||||||
205 | ||||||||
|
| |||||||
Trading Companies & Distributors — 1.35% |
| |||||||
83 | Air Lease Corp. | 3 | ||||||
3,305 | Aircastle Ltd. | 57 | ||||||
7,304 | Beacon Roofing Supply, Inc. (a) | 232 | ||||||
13,418 | BMC Stock Holdings, Inc. (a) | 208 | ||||||
5,061 | DXP Enterprises, Inc. (a) | 141 | ||||||
83 | GATX Corp. | 6 | ||||||
8,115 | MRC Global, Inc. (a) | 99 | ||||||
838 | SiteOne Landscape Supply, Inc. (a) | 46 | ||||||
2,263 | Triton International Ltd. | 70 | ||||||
1,540 | Watsco, Inc. | 214 | ||||||
51 | WESCO International, Inc. (a) | 2 | ||||||
1,283 | Willis Lease Finance Corp. (a)(b) | 44 | ||||||
|
| |||||||
1,122 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.36% |
| |||||||
8,155 | Macquarie Infrastructure Corp. | 298 | ||||||
|
| |||||||
Water Utilities — 0.08% |
| |||||||
294 | Consolidated Water Co. Ltd. | 3 | ||||||
1,063 | Global Water Resources, Inc. | 11 | ||||||
1,064 | SJW Corp. | 59 | ||||||
|
| |||||||
73 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.19% |
| |||||||
163 | Boingo Wireless, Inc. (a) | 3 | ||||||
30,363 | Gogo, Inc.^ (a) | 91 | ||||||
1,364 | Shenandoah Telecommunications Co. | 60 | ||||||
64 | Spok Holdings, Inc. | 1 | ||||||
|
| |||||||
155 | ||||||||
|
| |||||||
Total Common Stocks | 77,172 | |||||||
|
| |||||||
Contingent Rights — 0.00% |
| |||||||
Biotechnology — 0.00% |
| |||||||
1 | Tobira Therapeutics, Inc. CVR (a) | — | ||||||
|
| |||||||
Chemicals — 0.00% |
| |||||||
97 | Schulman, Inc. (a)(b) | — | ||||||
|
| |||||||
Total Contingent Rights | — | |||||||
|
| |||||||
Investment Companies — 7.23% |
| |||||||
45,400 | 180 Degree Capital Corp.^ | 79 |
See accompanying notes to financial statements.
47
Table of Contents
HC CAPITAL TRUST
The SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Investment Companies (continued) |
| |||||||
393,213 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (c) | $ | 393 | |||||
508,102 | State Street Institutional Liquid Reserves Fund, Trust Class, 2.55% (c) | 508 | ||||||
4,996,687 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (c) | 4,997 | ||||||
|
| |||||||
Total Investment Companies | 5,977 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.72% |
| |||||||
$ | 593 | Jefferies LLC, 3.10%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $593,471 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $605,236)^^ | 593 | |||||
|
| |||||||
Total Repurchase Agreement | 593 | |||||||
|
| |||||||
Total Investments | 83,742 | |||||||
Liabilities in excess of other | (1,113 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 82,629 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $908 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Representsnon-income producing security. |
(b) | These securities have been deemed illiquid by the Specialist Manager and represents 0.37% of the Portfolio’s net assets. |
(c) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Small Capitalization-Mid | Advisory Research, Inc. | Ariel Investments, LLC | Frontier Capital Management Company, LLC | Parametric Portfolio Associates, LLC | Pzena Investment Management, LLC | HC Capital Solutions | Total | |||||||||||||||||||||
Common Stocks | 14.29 | % | 4.83 | % | 38.89 | % | 27.33 | % | 8.06 | % | — | 93.40 | % | |||||||||||||||
Contingent Rights | — | — | — | 0.00 | % | — | — | 0.00 | % | |||||||||||||||||||
Investment Companies | 0.70 | % | 0.15 | % | 0.10 | % | 2.64 | % | — | 3.64 | % | 7.23 | % | |||||||||||||||
Repurchase Agreement | 0.13 | % | 0.09 | % | 0.16 | % | 0.34 | % | — | — | 0.72 | % | ||||||||||||||||
Other Assets (Liabilities) | -0.57 | % | -0.08 | % | -0.06 | % | -0.72 | % | 0.08 | % | 0.00 | % | -1.35 | % | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total Net Assets | 14.55 | % | 4.99 | % | 39.09 | % | 29.59 | % | 8.14 | % | 3.64 | % | 100.00 | % | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
Russell 2000 Mini Index Future | 35 | 3/15/19 | $ | 2,361 | $ | (117 | ) | |||||||
|
|
|
| |||||||||||
$ | 2,361 | $ | (117 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (117 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (117 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
48
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 92.76% |
| |||||||
Aerospace & Defense — 0.88% |
| |||||||
890 | AAR Corp. | $ | 33 | |||||
1,988 | Aerojet Rocketdyne Holdings, Inc. (a) | 70 | ||||||
587 | Aerovironment, Inc. (a) | 40 | ||||||
587 | Astronics Corp. (a) | 18 | ||||||
1,582 | Axon Enterprise, Inc.â (a) | 69 | ||||||
5,264 | Cubic Corp. | 284 | ||||||
285 | Ducommun, Inc. (a) | 10 | ||||||
499 | Engility Holdings, Inc. (a) | 14 | ||||||
718 | Esterline Technologies Corp. (a) | 87 | ||||||
19,972 | Kratos Defense & Security Solutions, Inc. (a) | 282 | ||||||
1,531 | Maxar Technologies Ltd. | 18 | ||||||
1,289 | Mercury Systems, Inc. (a) | 61 | ||||||
884 | Moog, Inc., Class – A | 68 | ||||||
138 | National Presto Industries, Inc. | 16 | ||||||
288 | Sparton Corp. (a) | 5 | ||||||
1,384 | The KeyW Holding Corp. (a) | 9 | ||||||
1,354 | Triumph Group, Inc. | 16 | ||||||
318 | Vectrus, Inc. (a) | 7 | ||||||
9,714 | Wesco Aircraft Holdings, Inc. (a) | 77 | ||||||
|
| |||||||
1,184 | ||||||||
|
| |||||||
Air Freight & Logistics — 0.12% |
| |||||||
1,616 | Air Transport Services Group, Inc. (a) | 37 | ||||||
640 | Atlas Air Worldwide Holdings, Inc. (a) | 27 | ||||||
760 | Echo Global Logistics, Inc. (a) | 15 | ||||||
797 | Forward Air Corp. | 44 | ||||||
884 | Hub Group, Inc., Class – A (a) | 33 | ||||||
1,142 | Radiant Logistics, Inc. (a) | 5 | ||||||
|
| |||||||
161 | ||||||||
|
| |||||||
Airlines — 3.07% |
| |||||||
361 | Allegiant Travel Co. | 36 | ||||||
21,913 | American Airlines Group, Inc. | 704 | ||||||
20,790 | Azul SA, ADR (a) | 576 | ||||||
4,105 | Hawaiian Holdings, Inc. | 108 | ||||||
21,358 | JetBlue Airways Corp. (a) | 343 | ||||||
22,929 | Mesa Air Group, Inc. (a) | 177 | ||||||
1,414 | SkyWest, Inc. | 63 | ||||||
1,889 | Spirit Airlines, Inc. (a) | 109 | ||||||
19,571 | United Continental Holdings, Inc. (a) | 1,639 | ||||||
69,635 | Volaris Aviation Holding Co., ADR (a) | 373 | ||||||
|
| |||||||
4,128 | ||||||||
|
| |||||||
Auto Components — 0.73% |
| |||||||
3,074 | American Axle & Manufacturing Holdings, | 34 | ||||||
1,408 | Cooper Tire & Rubber Co. | 46 | ||||||
481 | Cooper-Standard Holding, Inc. (a) | 30 | ||||||
28,665 | Dana Holding Corp. | 391 | ||||||
738 | Dorman Products, Inc. (a) | 66 | ||||||
994 | Fox Factory Holding Corp. (a) | 59 | ||||||
957 | Gentherm, Inc. (a) | 38 | ||||||
673 | LCI Industries | 45 | ||||||
11,169 | Modine Manufacturing Co. (a) | 121 | ||||||
2,896 | Motorcar Parts of America, Inc. (a) | 48 | ||||||
446 | Shiloh Industries, Inc. (a) | 3 | ||||||
588 | Standard Motor Products, Inc. | 28 |
Shares | Security Description | Value (000) | ||||||
Auto Components (continued) |
| |||||||
744 | Stoneridge, Inc. (a) | $ | 18 | |||||
688 | Superior Industries, Inc. | 3 | ||||||
1,427 | Tenneco, Inc. | 39 | ||||||
548 | Tower International, Inc. | 13 | ||||||
|
| |||||||
982 | ||||||||
|
| |||||||
Automobiles — 0.01% |
| |||||||
832 | Winnebago Industries, Inc. | 20 | ||||||
|
| |||||||
Banks — 5.70% |
| |||||||
177 | 1st Constitution BanCorp | 4 | ||||||
426 | 1st Source, Inc. | 17 | ||||||
421 | Access National Corp. | 9 | ||||||
205 | ACNB Corp. | 8 | ||||||
324 | Allegiance Bancshares, Inc. (a) | 10 | ||||||
261 | Amalgamated Bank, Class – A | 5 | ||||||
238 | American National Bankshares, Inc. | 7 | ||||||
1,150 | Ameris BanCorp | 36 | ||||||
251 | Ames National Corp. | 6 | ||||||
347 | Arrow Financial Corp. | 11 | ||||||
13,224 | Associated Banc-Corp. | 262 | ||||||
688 | Atlantic Capital Bancshares, Inc. (a) | 11 | ||||||
55 | Auburn National BanCorp. | 2 | ||||||
1,203 | Banc of California, Inc. | 16 | ||||||
487 | BancFirst Corp. | 24 | ||||||
1,388 | BanCorp, Inc. (a) | 11 | ||||||
2,614 | BancorpSouth Bank | 68 | ||||||
465 | Bank of Commerce Holdings | 5 | ||||||
380 | Bank of Marin Bancorp | 16 | ||||||
1,503 | Bank of N.T. Butterfield & Son Ltd. (The) | 47 | ||||||
141 | Bank of Princeton (The) | 4 | ||||||
179 | Bankwell Financial Group, Inc. | 5 | ||||||
884 | Banner Corp. | 47 | ||||||
426 | Bar Harbor Bankshares, Inc. | 10 | ||||||
253 | Baycom Corp. (a) | 6 | ||||||
375 | BCB BanCorp, Inc. | 4 | ||||||
1,101 | Berkshire Hills BanCorp, Inc. | 30 | ||||||
625 | Blue Hills BanCorp, Inc. | 13 | ||||||
2,282 | Boston Private Financial Holdings, Inc. | 24 | ||||||
451 | Bridge BanCorp, Inc. | 11 | ||||||
2,134 | Brookline BanCorp, Inc. | 29 | ||||||
539 | Bryn Mawr Bank Corp. | 19 | ||||||
291 | Business First Bancshares, Inc. | 7 | ||||||
464 | Byline BanCorp, Inc. (a) | 8 | ||||||
83 | C&F Financial Corp. | 4 | ||||||
1,959 | Cadence Bancorporation | 33 | ||||||
93 | Cambridge BanCorp | 8 | ||||||
424 | Camden National Corp. | 15 | ||||||
323 | Capital City Bank Group, Inc. | 7 | ||||||
269 | Capstar Financial Holdings, Inc. | 4 | ||||||
591 | Carolina Financial Corp. | 17 | ||||||
2,139 | Cathay BanCorp, Inc. | 72 | ||||||
113 | CB Financial Services, Inc. | 3 | ||||||
527 | CBTX, Inc. | 15 | ||||||
8,741 | Centerstate Bank Corp. | 184 | ||||||
808 | Central Pacific Financial Corp. | 20 | ||||||
295 | Central Valley Comm BanCorp | 6 |
See accompanying notes to financial statements.
49
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Banks (continued) |
| |||||||
86 | Century Bancorp, Inc., Class – A | $ | 6 | |||||
1,965 | Chemical Financial Corp. | 72 | ||||||
86 | Chemung Financial Corp. | 4 | ||||||
342 | Citizens & Northern Corp. | 9 | ||||||
448 | City Holding Co. | 30 | ||||||
376 | Civista Bancshares, Inc. | 7 | ||||||
420 | CNB Financial Corp. | 10 | ||||||
174 | Coastal Financial Corp. (a) | 3 | ||||||
262 | Codorus Valley BanCorp, Inc. | 6 | ||||||
2,023 | Columbia Banking System, Inc. | 73 | ||||||
1,385 | Community Bank System, Inc. | 81 | ||||||
641 | Community Bankers Trust Corp. (a) | 5 | ||||||
121 | Community Financial Corp. (The) | 4 | ||||||
426 | Community Trust Bancorp, Inc. | 17 | ||||||
836 | ConnectOne Bancorp, Inc. | 15 | ||||||
144 | County Bancorp, Inc. | 3 | ||||||
799 | Customers BanCorp, Inc. (a) | 15 | ||||||
3,099 | CVB Financial Corp. | 63 | ||||||
891 | Eagle BanCorp, Inc. (a) | 43 | ||||||
273 | Enterprise BanCorp, Inc. | 9 | ||||||
4,983 | Enterprise Financial Services Corp. | 188 | ||||||
360 | Equity Bancshares, Inc. (a) | 13 | ||||||
144 | Esquire Financial Holdings, Inc. (a) | 3 | ||||||
137 | Evans BanCorp, Inc. | 4 | ||||||
255 | Farmers & Merchants Banco^ | 10 | ||||||
738 | Farmers National Banc Corp. | 9 | ||||||
442 | FB Financial Corp. | 15 | ||||||
68 | Fidelity D&D BanCorp, Inc. | 4 | ||||||
624 | Fidelity Southern Corp. | 16 | ||||||
424 | Financial Institutions, Inc. | 11 | ||||||
791 | First Bancorp | 26 | ||||||
42,131 | First BanCorp | 362 | ||||||
297 | First Bancorp, Inc. | 8 | ||||||
334 | First Bancshares, Inc. | 10 | ||||||
402 | First Bank/Hamilton | 5 | ||||||
1,180 | First Busey Corp. | 29 | ||||||
245 | First Business Financial Services, Inc. | 5 | ||||||
245 | First Choice BanCorp | 6 | ||||||
2,698 | First Commonwealth Financial Corp. | 33 | ||||||
425 | First Community Bancshares, Inc. | 13 | ||||||
174 | First Community Corp. | 3 | ||||||
2,629 | First Financial BanCorp | 62 | ||||||
1,787 | First Financial Bankshares, Inc. | 103 | ||||||
336 | First Financial Corp. | 13 | ||||||
248 | First Financial Northwest, Inc. | 4 | ||||||
1,079 | First Foundation, Inc. (a) | 14 | ||||||
141 | First Guaranty Bancshares, Inc. | 3 | ||||||
15,810 | First Horizon National Corp. | 208 | ||||||
294 | First Internet BanCorp | 6 | ||||||
922 | First Interstate BancSystem, Inc., Class – A | 34 | ||||||
1,360 | First Merchants Corp. | 47 | ||||||
362 | FirstMid-Illinois Bancshares, Inc. | 12 | ||||||
11,129 | First Midwest Bancorp, Inc. | 220 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) |
| |||||||
298 | First Northwest BanCorp | $ | 4 | |||||
661 | First of Long Island Corp. (The) | 13 | ||||||
43 | First Savings Financial Group, Inc. | 2 | ||||||
164 | First United Corp. | 3 | ||||||
768 | Flushing Financial Corp. | 17 | ||||||
339 | Franklin Financial Network, Inc. (a) | 9 | ||||||
4,767 | Fulton Financial Corp. | 74 | ||||||
586 | German American BanCorp, Inc. | 16 | ||||||
2,338 | Glacier BanCorp, Inc. | 93 | ||||||
301 | Great Southern Bancorp, Inc. | 14 | ||||||
1,632 | Great Western Bancorp, Inc. | 51 | ||||||
750 | Green BanCorp, Inc. | 13 | ||||||
680 | Guaranty BanCorp | 14 | ||||||
231 | Guaranty Bancshares, Inc. | 7 | ||||||
2,341 | Hancock Holding Co. | 81 | ||||||
863 | Hanmi Financial Corp. | 17 | ||||||
382 | Harborone BanCorp, Inc. (a) | 6 | ||||||
813 | Heartland Financial USA, Inc. | 36 | ||||||
1,079 | Heritage Commerce Corp. | 12 | ||||||
991 | Heritage Financial Corp. | 29 | ||||||
2,000 | Hilltop Holdings, Inc. | 36 | ||||||
4,396 | Home Bancshares, Inc. | 72 | ||||||
472 | Hometrust Bancshares, Inc. | 12 | ||||||
20,488 | Hope Bancorp, Inc. | 243 | ||||||
1,034 | Horizon Bancorp, Inc. | 16 | ||||||
333 | Howard BanCorp, Inc. (a) | 5 | ||||||
4,599 | Iberiabank Corp. | 296 | ||||||
576 | Independent Bank Corp. | 12 | ||||||
749 | Independent Bank Corp. | 53 | ||||||
571 | Independent Bank Group, Inc. | 26 | ||||||
1,524 | International Bancshares Corp. | 52 | ||||||
242 | Investar Holding Corp. | 6 | ||||||
6,643 | Investors Bancorp, Inc. | 69 | ||||||
1,215 | Lakeland Bancorp, Inc. | 18 | ||||||
668 | Lakeland Financial Corp. | 27 | ||||||
267 | LCNB Corp. | 4 | ||||||
1,330 | LegacyTexas Financial Group, Inc. | 43 | ||||||
140 | Level One BanCorp, Inc. | 3 | ||||||
688 | Live Oak Bancshares, Inc. | 10 | ||||||
758 | Macatawa Bank Corp. | 7 | ||||||
2,284 | MB Financial, Inc. | 91 | ||||||
532 | MBT Financial Corp. | 5 | ||||||
454 | Mercantile Bank Corp. | 13 | ||||||
174 | Metropolitan Bank Holding Corp. (a) | 5 | ||||||
113 | Mid Penn BanCorp, Inc. | 3 | ||||||
80 | Middlefield Banc Corp. | 3 | ||||||
567 | Midland States BanCorp, Inc. | 13 | ||||||
435 | MidSouth Bancorp, Inc. | 5 | ||||||
323 | MidWestOne Financial Group, Inc. | 8 | ||||||
180 | MutualFirst Financial, Inc. | 5 | ||||||
202 | MVB Financial Corp. | 4 | ||||||
775 | National Bank Holdings Corp., Class – A | 24 | ||||||
197 | National Bankshares, Inc. | 7 | ||||||
482 | National Commerce Corp. (a) | 17 | ||||||
1,173 | NBT Bancorp, Inc. | 41 |
See accompanying notes to financial statements.
50
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Banks (continued) |
| |||||||
226 | Nicolet Bankshares, Inc. (a) | $ | 11 | |||||
225 | Northeast BanCorp | 4 | ||||||
200 | Northrim BanCorp, Inc. | 7 | ||||||
172 | Norwood Financial Corp. | 6 | ||||||
166 | Oak Valley BanCorp | 3 | ||||||
1,177 | OFG Bancorp | 19 | ||||||
123 | Ohio Valley Banc Corp. | 4 | ||||||
419 | Old Line Bancshares, Inc. | 11 | ||||||
4,194 | Old National Bancorp | 65 | ||||||
830 | Old Second BanCorp, Inc. | 11 | ||||||
553 | Opus Bank | 11 | ||||||
493 | Origin BanCorp, Inc. | 17 | ||||||
222 | Orrstown Financial Services, Inc. | 4 | ||||||
316 | Pacific City Financial Corp. | 5 | ||||||
470 | Pacific Mercantile BanCorp (a) | 3 | ||||||
1,282 | Pacific Premier Bancorp, Inc. (a) | 33 | ||||||
382 | Park National Corp. | 32 | ||||||
198 | Parke BanCorp, Inc. | 4 | ||||||
495 | Peapack-Gladstone Financial Corp. | 12 | ||||||
138 | Penns Woods BanCorp, Inc. | 6 | ||||||
143 | Peoples BanCorp | 3 | ||||||
488 | Peoples Bancorp, Inc. | 15 | ||||||
198 | Peoples Financial Services Corp. | 9 | ||||||
418 | People’s Utah BanCorp | 13 | ||||||
7,877 | Popular, Inc. | 373 | ||||||
372 | Preferred Bank | 16 | ||||||
299 | Premier Financial Bancorp, Inc. | 4 | ||||||
353 | QCR Holdings, Inc. | 11 | ||||||
366 | RBB BanCorp | 6 | ||||||
258 | Reliant BanCorp, Inc. | 6 | ||||||
1,329 | Renasant Co. | 40 | ||||||
266 | Republic Bancorp, Inc., Class – A | 10 | ||||||
1,197 | Republic First Bancorp, Inc. (a) | 7 | ||||||
949 | S & T BanCorp, Inc. | 36 | ||||||
935 | Sandy Spring BanCorp, Inc. | 29 | ||||||
176 | SB One BanCorp | 4 | ||||||
1,241 | Seacoast Banking Corporation of Florida (a) | 32 | ||||||
422 | Select BanCorp, Inc. (a) | 5 | ||||||
1,299 | ServisFirst Bancshares, Inc. | 41 | ||||||
367 | Shore Bancshares, Inc. | 5 | ||||||
389 | Sierra Bancorp | 9 | ||||||
2,492 | Simmons First National Corp. | 60 | ||||||
292 | Smartfinancial, Inc. (a) | 5 | ||||||
1,016 | South State Corp. | 61 | ||||||
191 | Southern First Bancshares (a) | 6 | ||||||
532 | Southern National BanCorp | 7 | ||||||
895 | Southside Bancshares, Inc. | 28 | ||||||
248 | Spirit of Texas Bancshares, Inc. (a) | 6 | ||||||
1,042 | State Bank Financial Corp. | 22 | ||||||
604 | Stock Yards BanCorp, Inc. | 20 | ||||||
317 | Summit Financial Group, Inc. | 6 | ||||||
5,652 | Synovus Financial Corp. | 181 | ||||||
7,532 | TCF Financial Corp. | 147 | ||||||
3,069 | Texas Capital Bancshares, Inc. (a) | 157 |
Shares | Security Description | Value (000) | ||||||
Banks (continued) |
| |||||||
399 | Tompkins TrustCo, Inc. | $ | 30 | |||||
1,840 | TowneBank | 44 | ||||||
693 | TriCo Bancshares | 23 | ||||||
693 | Tristate Capital Holdings, Inc. (a) | 13 | ||||||
644 | Triumph Bancorp, Inc. (a) | 19 | ||||||
1,832 | Trustmark Corp. | 52 | ||||||
1,251 | UMB Financial Corp. | 76 | ||||||
1,803 | Union Bankshares Corp. | 51 | ||||||
116 | Union Bankshares, Inc. | 6 | ||||||
2,755 | United Bankshares, Inc. | 86 | ||||||
2,161 | United Community Banks, Inc. | 46 | ||||||
397 | United Security Bancshare/CA | 4 | ||||||
231 | Unity BanCorp, Inc. | 5 | ||||||
790 | Univest Corp. | 17 | ||||||
8,811 | Valley National Bancorp | 78 | ||||||
624 | Veritex Holdings, Inc. (a) | 13 | ||||||
407 | Washington Trust BanCorp, Inc. | 19 | ||||||
8,712 | Webster Financial Corp. | 430 | ||||||
1,438 | WesBanco, Inc. | 53 | ||||||
455 | West Bancorporation, Inc. | 9 | ||||||
722 | Westamerica Bancorp | 40 | ||||||
|
| |||||||
7,681 | ||||||||
|
| |||||||
Beverages — 0.11% |
| |||||||
2,808 | Castle Brands, Inc. (a) | 2 | ||||||
524 | Celsius Holdings, Inc. (a) | 2 | ||||||
130 | Coca-Cola Bottling Co. Consolidated | 23 | ||||||
371 | Craft Brew Alliance, Inc. (a) | 5 | ||||||
357 | MGP Ingredients, Inc. | 20 | ||||||
324 | National Beverage Corp. | 23 | ||||||
887 | Primo Water Corp. (a) | 12 | ||||||
227 | The Boston Beer Co., Inc., Class – A (a) | 56 | ||||||
|
| |||||||
143 | ||||||||
|
| |||||||
Biotechnology — 4.44% |
| |||||||
868 | Abeona Therapeutics, Inc. (a) | 6 | ||||||
2,717 | Acadia Pharmaceuticals, Inc. (a) | 44 | ||||||
4,844 | Acceleron Pharma, Inc. (a) | 211 | ||||||
859 | Achaogen, Inc. (a) | 1 | ||||||
3,829 | Achillion Pharmaceuticals, Inc. (a) | 6 | ||||||
1,204 | Acorda Therapeutics, Inc. (a) | 19 | ||||||
590 | Adamas Pharmaceuticals, Inc. (a) | 5 | ||||||
425 | ADMA Biologics, Inc. (a) | 1 | ||||||
1,722 | Aduro Biotech, Inc. (a) | 5 | ||||||
1,369 | Adverum Biotechnologies, Inc. (a) | 4 | ||||||
395 | Aeglea BioTherapeutics, Inc. (a) | 3 | ||||||
2,168 | Agenus, Inc. (a) | 5 | ||||||
256 | Agex Therapeutics, Inc. (a) | 1 | ||||||
1,166 | Aimmune Therapeutics, Inc. (a) | 28 | ||||||
2,311 | Akebia Therapeutics, Inc. (a) | 13 | ||||||
228 | Albireo Pharma, Inc. (a) | 6 | ||||||
1,584 | Alder Biopharmaceuticals, Inc. (a) | 16 | ||||||
489 | Aldeyra Therapeutics, Inc. (a) | 4 | ||||||
220 | Allakos, Inc. (a) | 11 | ||||||
277 | Allena Pharmaceuticals, Inc. (a) | 2 | ||||||
292 | Allogene Therapeutics, Inc. (a) | 8 | ||||||
970 | AMAG Pharmaceuticals, Inc. (a) | 15 |
See accompanying notes to financial statements.
51
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Biotechnology (continued) |
| |||||||
5,214 | Amicus Therapeutics, Inc. (a) | $ | 50 | |||||
578 | Anaptysbio, Inc. (a) | 37 | ||||||
957 | Apellis Pharmaceuticals, Inc. (a) | 13 | ||||||
354 | Aptinyx, Inc. (a) | 6 | ||||||
875 | Arbutus BioPharma Corp. (a) | 3 | ||||||
850 | Arcus Biosciences, Inc. (a) | 9 | ||||||
1,002 | Ardelyx, Inc. (a) | 2 | ||||||
1,371 | Arena Pharmaceuticals, Inc. (a) | 53 | ||||||
2,932 | ArQule, Inc. (a) | 8 | ||||||
14,063 | Array BioPharma, Inc. (a) | 200 | ||||||
2,402 | Arrowhead Pharmaceuticals, Inc. (a) | 30 | ||||||
101 | Arsanis, Inc. (a) | — | ||||||
3,445 | Ascendis Pharma A/S, ADR (a) | 216 | ||||||
1,139 | Atara Biotherapeutics, Inc. (a) | 40 | ||||||
1,244 | Athenex, Inc. (a) | 16 | ||||||
3,034 | Athersys, Inc. (a) | 4 | ||||||
1,019 | Audentes Therapeutics, Inc. (a) | 22 | ||||||
2,517 | Aveo Phamaceuticals, Inc. (a) | 4 | ||||||
1,443 | Avid Bioservices, Inc. (a) | 6 | ||||||
162 | Avrobio, Inc. (a) | 3 | ||||||
1,026 | Bellicum Pharmaceuticals, Inc. (a) | 3 | ||||||
3,063 | BioCryst Pharmaceuticals, Inc. (a) | 25 | ||||||
773 | Biohaven Pharmaceutical Holding Co. Ltd. (a) | 29 | ||||||
165 | BioSpecifics Technologies Corp. (a) | 10 | ||||||
2,560 | BioTime, Inc. | 2 | ||||||
1,129 | Blueprint Medicines Corp. (a) | 61 | ||||||
916 | Calithera Biosciences, Inc. (a) | 4 | ||||||
135 | Calyxt, Inc. (a) | 1 | ||||||
882 | Cara Therapeutics, Inc. (a) | 11 | ||||||
935 | CareDx, Inc. (a) | 24 | ||||||
1,309 | CASI Pharmaceuticals, Inc. (a) | 5 | ||||||
279 | Catalyst Biosciences, Inc. (a) | 2 | ||||||
2,577 | Catalyst Pharmaceuticals, Inc. (a) | 5 | ||||||
136 | Celcuity, Inc. (a) | 3 | ||||||
284 | Cellular Biomedicine Group, Inc. (a) | 5 | ||||||
611 | ChemoCentryx, Inc. (a) | 7 | ||||||
1,383 | Chimerix, Inc. (a) | 4 | ||||||
1,284 | Clovis Oncology, Inc. (a) | 23 | ||||||
550 | Cohbar, Inc. (a) | 2 | ||||||
1,461 | Coherus Biosciences, Inc. (a) | 13 | ||||||
574 | Concert Pharmaceuticals, Inc. (a) | 7 | ||||||
1,424 | Corbus Pharmaceuticals Holdings, Inc.^ (a) | 8 | ||||||
336 | Corvus Pharmaceuticals, Inc. (a) | 1 | ||||||
185 | Crinetics Pharmaceuticals, Inc. (a) | 6 | ||||||
1,269 | CTI BioPharma Corp. (a) | 1 | ||||||
443 | Cue BioPharma, Inc. (a) | 2 | ||||||
1,203 | Cytokinetics, Inc. (a) | 8 | ||||||
1,206 | CytomX Therapeutics, Inc. (a) | 18 | ||||||
228 | Deciphera Pharmaceuticals, Inc. (a) | 5 | ||||||
1,221 | Denali Therapeutics, Inc. (a) | 25 | ||||||
1,472 | Dicerna Pharmaceuticals, Inc. (a) | 16 | ||||||
1,684 | Dynavax Technologies Corp. (a) | 15 | ||||||
280 | Eagle Pharmaceuticals, Inc. (a) | 11 | ||||||
1,281 | Editas Medicine, Inc. (a) | 29 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) |
| |||||||
198 | Eidos Therapeutics, Inc. (a) | $ | 3 | |||||
5,385 | Emergent BioSolutions, Inc. (a) | 319 | ||||||
452 | Enanta Pharmaceuticals, Inc. (a) | 32 | ||||||
1,520 | Epizyme, Inc. (a) | 9 | ||||||
645 | Esperion Therapeutics, Inc. (a) | 30 | ||||||
373 | Evelo Biosciences, Inc. (a) | 5 | ||||||
4,673 | Exact Sciences Corp. (a) | 295 | ||||||
1,658 | Fate Therapeutics, Inc. (a) | 21 | ||||||
265 | Fennec Pharmaceuticals, Inc. (a) | 2 | ||||||
7,519 | Fibrogen, Inc. (a) | 348 | ||||||
928 | Five Prime Therapeutics, Inc. (a) | 9 | ||||||
906 | Flexion Therapeutics, Inc. (a) | 10 | ||||||
997 | Fortress Biotech, Inc. (a) | 1 | ||||||
218 | Forty Seven, Inc. (a) | 3 | ||||||
583 | G1 Therapeutics, Inc. (a) | 11 | ||||||
3,736 | Genomic Health, Inc. (a) | 241 | ||||||
4,547 | Geron Corp.^ (a) | 5 | ||||||
1,376 | Global Blood Therapeutics, Inc. (a) | 56 | ||||||
972 | GlycoMimetics Industries, Inc. (a) | 9 | ||||||
102 | GTX, Inc. (a) | — | ||||||
3,390 | Halozyme Therapeutics, Inc. (a) | 50 | ||||||
1,870 | Heron Therapeutics, Inc. (a) | 49 | ||||||
467 | Homology Medicines, Inc. (a) | 10 | ||||||
516 | Idera Pharmaceuticals, Inc. (a) | 1 | ||||||
1,001 | Immune Design Corp. (a) | 1 | ||||||
3,889 | ImmunoGen, Inc. (a) | 19 | ||||||
4,034 | Immunomedics, Inc. (a) | 58 | ||||||
2,310 | Inovio Pharmaceuticals, Inc. (a) | 9 | ||||||
2,071 | Insmed, Inc. (a) | 27 | ||||||
705 | Insys Therapeutics, Inc. (a) | 2 | ||||||
886 | Intellia Therapeutics, Inc. (a) | 12 | ||||||
601 | Intercept Pharmaceuticals, Inc. (a) | 61 | ||||||
2,050 | Intrexon Corp. (a) | 13 | ||||||
1,834 | Invitae Corp. (a) | 20 | ||||||
2,891 | Iovance Biotherapeutics, Inc. (a) | 26 | ||||||
3,816 | Ironwood Pharmaceuticals, Inc. (a) | 40 | ||||||
400 | Jounce Therapeutics, Inc. (a) | 1 | ||||||
2,687 | Kadmon Holdings, Inc. (a) | 6 | ||||||
1,302 | Karyopharm Therapeutics, Inc. (a) | 12 | ||||||
166 | Kezar Life Sciences, Inc. (a) | 4 | ||||||
895 | Kindred Biosciences, Inc. (a) | 10 | ||||||
172 | Kiniksa Pharmaceuticals Ltd. (a) | 5 | ||||||
809 | Kura Oncology, Inc. (a) | 11 | ||||||
577 | La Jolla Pharmaceutical Co. (a) | 5 | ||||||
1,192 | Lexicon Pharmaceuticals, Inc. (a) | 8 | ||||||
1,371 | Ligand Pharmaceuticals, Inc., Class – B (a) | 186 | ||||||
2,531 | Loxo Oncology, Inc. (a) | 355 | ||||||
1,057 | MacroGenics, Inc. (a) | 13 | ||||||
187 | Madrigal Pharmaceuticals, Inc. (a) | 21 | ||||||
138 | Magenta Therapeutics, Inc. (a) | 1 | ||||||
3,489 | MannKind Corp. (a) | 4 | ||||||
1,094 | MediciNova, Inc. (a) | 9 | ||||||
101 | Meiragtx Holdings PLC (a) | 1 | ||||||
334 | Mersana Therapeutics, Inc. (a) | 1 | ||||||
791 | Minerva Neurosciences, Inc. (a) | 5 |
See accompanying notes to financial statements.
52
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Biotechnology (continued) |
| |||||||
753 | Miragen Therapeutics, Inc. (a) | $ | 2 | |||||
564 | Mirati Therapeutics, Inc. (a) | 24 | ||||||
308 | Molecular Templates, Inc. (a) | 1 | ||||||
2,075 | Momenta Pharmaceuticals, Inc. (a) | 23 | ||||||
385 | Mustang Bio, Inc. (a) | 1 | ||||||
14,299 | Myriad Genetics, Inc. (a) | 416 | ||||||
924 | NantKwest, Inc. (a) | 1 | ||||||
8,073 | Natera, Inc. (a) | 113 | ||||||
172 | Neon Therapeutics, Inc. (a) | 1 | ||||||
894 | NewLink Genetics Corp. (a) | 1 | ||||||
10,266 | Novavax, Inc. (a) | 19 | ||||||
973 | Nymox Pharmaceutical Corp. (a) | 1 | ||||||
8,691 | OPKO Health, Inc. (a) | 26 | ||||||
3,286 | Organovo Holdings, Inc. (a) | 3 | ||||||
385 | Ovid Therapeutics, Inc. (a) | 1 | ||||||
4,759 | Palatin Technologies, Inc.^ (a) | 3 | ||||||
3,937 | PDL BioPharma, Inc. (a) | 11 | ||||||
778 | Pfenex, Inc. (a) | 2 | ||||||
1,482 | Pieris Pharmaceuticals, Inc. (a) | 4 | ||||||
228 | PolarityTE, Inc. (a) | 3 | ||||||
1,769 | Portola Pharmaceuticals, Inc. (a) | 35 | ||||||
2,408 | Progenics Pharmaceuticals, Inc. (a) | 10 | ||||||
739 | Proteostasis Therapeutics, Inc. (a) | 2 | ||||||
1,074 | Prothena Corp. PLC (a) | 11 | ||||||
1,248 | PTC Therapeutics, Inc. (a) | 43 | ||||||
800 | Puma Biotechnology, Inc. (a) | 16 | ||||||
432 | Ra Pharmaceuticals, Inc. (a) | 8 | ||||||
1,094 | Radius Health, Inc. (a) | 18 | ||||||
414 | Recro Pharma, Inc. (a) | 3 | ||||||
886 | Regenxbio, Inc. (a) | 37 | ||||||
1,088 | Repligen Corp. (a) | 57 | ||||||
199 | Replimune Group, Inc. (a) | 2 | ||||||
1,128 | Retrophin, Inc. (a) | 26 | ||||||
437 | Rhythm Pharmaceuticals, Inc. (a) | 12 | ||||||
4,635 | Rigel Pharmaceuticals, Inc. (a) | 11 | ||||||
548 | Rocket Pharmaceuticals, Inc. (a) | 8 | ||||||
323 | Rubius Therapeutics, Inc. (a) | 5 | ||||||
10,295 | Sangamo BioSciences, Inc. (a) | 118 | ||||||
783 | Savara, Inc. (a) | 6 | ||||||
166 | Scholar Rock Holding Corp. (a) | 4 | ||||||
424 | Selecta Biosciences, Inc. (a) | 1 | ||||||
618 | Seres Therapeutics, Inc. (a) | 3 | ||||||
329 | Solid Biosciences, Inc. (a) | 9 | ||||||
2,955 | Sorrento Therapeutics, Inc.^ (a) | 7 | ||||||
867 | Spark Therapeutics, Inc. (a) | 34 | ||||||
2,728 | Spectrum Pharmaceuticals, Inc. (a) | 24 | ||||||
190 | Spero Therapeutics, Inc. (a) | 1 | ||||||
383 | Spring Bank Pharmaceuticals, Inc. (a) | 4 | ||||||
751 | Stemline Therapeutics, Inc. (a) | 7 | ||||||
191 | Surface Oncology, Inc. (a) | 1 | ||||||
362 | Syndax Pharmaceuticals, Inc. (a) | 2 | ||||||
7,037 | Synergy Pharmaceuticals, Inc. (a) | 1 | ||||||
369 | Synlogic, Inc. (a) | 3 | ||||||
629 | Syros Pharmaceuticals, Inc. (a) | 4 |
Shares | Security Description | Value (000) | ||||||
Biotechnology (continued) |
| |||||||
903 | T2 Biosystems, Inc. (a) | $ | 3 | |||||
7,514 | Tesaro, Inc. (a) | 558 | ||||||
1,818 | TG Therapeutics, Inc. (a) | 7 | ||||||
530 | Tocagen, Inc. (a) | 4 | ||||||
268 | Translate Bio, Inc. (a) | 2 | ||||||
2,816 | Tyme Technologies, Inc. (a) | 10 | ||||||
1,306 | Ultragenyx Pharmaceutical, Inc. (a) | 57 | ||||||
672 | UNITY Biotechnology, Inc.^ (a) | 11 | ||||||
513 | Unum Therapeutics, Inc. (a) | 2 | ||||||
1,440 | Vanda Pharmaceuticals, Inc. (a) | 38 | ||||||
729 | Veracyte, Inc. (a) | 9 | ||||||
1,856 | Verastem, Inc. (a) | 6 | ||||||
1,218 | Vericel Corp. (a) | 21 | ||||||
1,640 | Viking Therapeutics, Inc.^ (a) | 13 | ||||||
737 | Vital Therapies, Inc. (a) | — | ||||||
578 | Voyager Therapeutics, Inc. (a) | 5 | ||||||
1,275 | Xencor, Inc. (a) | 46 | ||||||
147 | Xoma Corp. (a) | 2 | ||||||
822 | Zafgen, Inc. (a) | 4 | ||||||
3,633 | ZIOPHARM Oncology, Inc.^ (a) | 7 | ||||||
|
| |||||||
5,986 | ||||||||
|
| |||||||
Building Products — 1.30% |
| |||||||
1,121 | AAON, Inc. | 39 | ||||||
985 | Advanced Drainage Systems, Inc. | 24 | ||||||
382 | American Woodmark Corp. (a) | 21 | ||||||
765 | Apogee Enterprises, Inc. | 23 | ||||||
578 | Armstrong Flooring, Inc. (a) | 7 | ||||||
3,055 | Builders FirstSource, Inc. (a) | 33 | ||||||
628 | Caesarstone Ltd. | 9 | ||||||
1,004 | Continental Building Products, Inc. (a) | 26 | ||||||
426 | CSW Industrials, Inc. (a) | 21 | ||||||
7,875 | Gibraltar Industries, Inc. (a) | 280 | ||||||
983 | Griffon Corp. | 10 | ||||||
495 | Insteel Industries, Inc. | 12 | ||||||
17,877 | Jeld-Wen Holding, Inc. (a) | 254 | ||||||
5,690 | Masonite International Corp. (a) | 256 | ||||||
1,183 | NCI Building Systems, Inc. (a) | 9 | ||||||
642 | Patrick Industries, Inc. (a) | 19 | ||||||
1,551 | PGT, Inc. (a) | 25 | ||||||
975 | Quanex Building Products Corp. | 13 | ||||||
1,154 | Simpson Manufacturing Co., Inc. | 62 | ||||||
9,500 | Trex Company, Inc. (a) | 564 | ||||||
1,682 | Universal Forest Products, Inc. | 44 | ||||||
|
| |||||||
1,751 | ||||||||
|
| |||||||
Capital Markets — 1.59% |
| |||||||
798 | Arlington Asset Investment Corp. | 6 | ||||||
11,202 | Artisan Partners Asset Management, Inc., Class – A | 248 | ||||||
16 | Ashford, Inc. (a) | 1 | ||||||
70 | Associated Capital Group, Inc., Class – A | 2 | ||||||
589 | B. Riley Financial, Inc. | 8 | ||||||
6,645 | Blucora, Inc. (a) | 177 | ||||||
2,206 | Brightsphere Investment Group | 24 | ||||||
619 | Cohen & Steers, Inc. | 21 | ||||||
737 | Cowen Group, Inc., Class – A (a) | 10 |
See accompanying notes to financial statements.
53
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Capital Markets (continued) |
| |||||||
88 | Diamond Hill Investment Group | $ | 13 | |||||
944 | Donnelley Financial Solutions, Inc. (a) | 13 | ||||||
2,669 | Federated Investors, Inc., Class – B | 71 | ||||||
501 | Focus Financial Partners, Inc., Class – A (a) | 13 | ||||||
746 | Gain Capital Holdings, Inc. | 5 | ||||||
181 | GAMCO Investors, Inc., Class – A | 3 | ||||||
10,825 | Greenhill & Co., Inc. | 265 | ||||||
457 | Hamilton Lane, Inc. | 17 | ||||||
905 | Houlihan Lokey, Inc. | 33 | ||||||
419 | International Fcstone, Inc. (a) | 15 | ||||||
909 | Investment Technology Group, Inc. | 27 | ||||||
2,937 | Ladenburg Thalmann Financial Services, Inc. | 7 | ||||||
7,037 | LPL Financial Holdings, Inc. | 431 | ||||||
1,211 | Moelis & Co., Class – A | 42 | ||||||
283 | Oppenheimer Holdings, Inc., Class – A | 7 | ||||||
398 | Piper Jaffray Cos., Inc. | 26 | ||||||
539 | PJT Partners, Inc. | 21 | ||||||
507 | Pzena Investment Management, Inc. | 4 | ||||||
4,614 | Raymond James Financial, Inc. | 344 | ||||||
594 | Safeguard Scientifics, Inc. (a) | 5 | ||||||
154 | Siebert Financial Corp. (a) | 2 | ||||||
224 | Silvercrest Asset Management Group, Inc. | 3 | ||||||
1,913 | Stifel Financial Corp. | 79 | ||||||
56 | Value Line, Inc. | 1 | ||||||
190 | Virtus Investment Partners, Inc. | 15 | ||||||
8,306 | Waddell & Reed Financial, Inc., Class – A | 150 | ||||||
230 | Westwood Holdings Group, Inc. | 8 | ||||||
3,161 | WisdomTree Investments, Inc. | 21 | ||||||
|
| |||||||
2,138 | ||||||||
|
| |||||||
Chemicals — 2.03% |
| |||||||
585 | Advanced Emissions Solutions, Inc. | 6 | ||||||
830 | Advansix, Inc. (a) | 20 | ||||||
802 | Agrofresh Solutions, Inc. (a) | 3 | ||||||
3,395 | Albemarle Corp. | 262 | ||||||
794 | American Vanguard Corp. | 12 | ||||||
891 | Balchem Corp. | 70 | ||||||
198 | Chase Corp. | 20 | ||||||
2,280 | Ferro Corp. (a) | 36 | ||||||
1,595 | Flotek Industries, Inc. (a) | 2 | ||||||
9,186 | FMC Corp. | 680 | ||||||
721 | FutureFuel Corp. | 11 | ||||||
2,006 | GCP Applied Technologies (a) | 49 | ||||||
1,394 | H.B. Fuller Co. | 59 | ||||||
278 | Hawkins, Inc. | 11 | ||||||
1,166 | Ingevity Corp. (a) | 98 | ||||||
2,924 | Innophos Holdings, Inc. | 72 | ||||||
676 | Innospec, Inc. | 42 | ||||||
2,727 | Intrepid Potash, Inc. (a) | 7 | ||||||
570 | Koppers Holdings, Inc. (a) | 10 | ||||||
17,396 | Kraton Performance Polymers, Inc. (a) | 380 | ||||||
628 | Kronos Worldwide, Inc. | 7 | ||||||
317 | Livent Corp. (a) | 4 | ||||||
668 | LSB Industries, Inc. (a) | 4 | ||||||
1,223 | Marrone Bio Innovations, Inc. (a) | 2 |
Shares | Security Description | Value (000) | ||||||
Chemicals (continued) |
| |||||||
976 | Minerals Technologies, Inc. | $ | 50 | |||||
1,222 | Omnova Solutions, Inc. (a) | 9 | ||||||
25,767 | Platform Specialty Products Corp. (a) | 266 | ||||||
2,218 | PolyOne Corp. | 63 | ||||||
985 | PQ Group Holdings, Inc. (a) | 15 | ||||||
361 | Quaker Chemical Corp. | 64 | ||||||
1,372 | Rayonier Advanced Materials, Inc. | 15 | ||||||
1,181 | Sensient Technologies Corp. | 66 | ||||||
569 | Stepan Co. | 42 | ||||||
573 | Trecora Resources (a) | 4 | ||||||
716 | Tredegar Industries, Inc. | 11 | ||||||
1,196 | Trinseo SA | 55 | ||||||
25,748 | Tronox Ltd., Class – A | 200 | ||||||
699 | Valhi, Inc. | 1 | ||||||
|
| |||||||
2,728 | ||||||||
|
| |||||||
Commercial Services & Supplies — 1.94% |
| |||||||
1,824 | ABM Industries, Inc. | 59 | ||||||
2,871 | ACCO Brands Corp. | 19 | ||||||
1,999 | Advanced Disposal Services, Inc. (a) | 48 | ||||||
16,617 | Aqua Metals, Inc. (a) | 30 | ||||||
10,561 | ARC Document Solutions, Inc. (a) | 22 | ||||||
1,303 | Brady Corp., Class – A | 57 | ||||||
658 | BrightView Holdings, Inc. (a) | 7 | ||||||
1,077 | Casella Waste Systems, Inc. (a) | 31 | ||||||
915 | CECO Environmental Corp. (a) | 6 | ||||||
202 | Charah Solutions, Inc. (a) | 2 | ||||||
600 | Cimpress NV (a) | 62 | ||||||
23,169 | Covanta Holding Corp. | 310 | ||||||
1,268 | Deluxe Corp. | 49 | ||||||
708 | Ennis, Inc. | 14 | ||||||
20,831 | Essendant, Inc. | 261 | ||||||
2,043 | Healthcare Services Group, Inc. | 82 | ||||||
411 | Heritage-Crystal Clean, Inc. (a) | 9 | ||||||
1,631 | Herman Miller, Inc. | 49 | ||||||
1,174 | HNI Corp. | 42 | ||||||
20,734 | Interface, Inc. | 294 | ||||||
1,027 | Kimball International, Inc., Class – B | 15 | ||||||
1,308 | Knoll, Inc. | 22 | ||||||
967 | LSC Communications, Inc. | 7 | ||||||
857 | Matthews International Corp., Class – A | 35 | ||||||
7,165 | McGrath RentCorp | 368 | ||||||
1,244 | Mobile Mini, Inc. | 39 | ||||||
939 | MSA Safety, Inc. | 89 | ||||||
375 | Multi-Color Corp. | 13 | ||||||
219 | NL Industries, Inc. (a) | 1 | ||||||
549 | PICO Holdings, Inc. (a) | 5 | ||||||
5,085 | Pitney Bowes, Inc. | 30 | ||||||
869 | Quad Graphics, Inc. | 11 | ||||||
1,974 | RR Donnelley & Sons Co. | 8 | ||||||
609 | SP Plus Corp. (a) | 18 | ||||||
12,260 | Steelcase, Inc., Class – A | 182 | ||||||
798 | Team, Inc. (a) | 12 | ||||||
1,515 | Tetra Tech, Inc. | 78 | ||||||
1,386 | The Brink’s Co. | 90 | ||||||
425 | UniFirst Corp. | 61 |
See accompanying notes to financial statements.
54
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Commercial Services & Supplies (continued) |
| |||||||
604 | US Ecology, Inc. | $ | 38 | |||||
559 | Viad Corp. | 28 | ||||||
218 | VSE Corp. | 7 | ||||||
|
| |||||||
2,610 | ||||||||
|
| |||||||
Communications Equipment — 1.26% |
| |||||||
8,390 | Acacia Communications, Inc. (a) | 319 | ||||||
1,343 | ADTRAN, Inc. | 14 | ||||||
990 | Aerohive Networks, Inc. (a) | 3 | ||||||
522 | Applied Optoelectronics, Inc. (a) | 8 | ||||||
956 | CalAmp Corp. (a) | 12 | ||||||
1,259 | Calix, Inc. (a) | 12 | ||||||
728 | Casa Systems, Inc. (a) | 10 | ||||||
16,284 | Ciena Corp. (a) | 551 | ||||||
348 | Clearfield, Inc. (a) | 3 | ||||||
637 | Comtech Telecommunications Corp. | 16 | ||||||
117 | DASAN Zhone Solutions, Inc. (a) | 2 | ||||||
784 | Digi International, Inc. (a) | 8 | ||||||
3,102 | Extreme Networks, Inc. (a) | 19 | ||||||
3,202 | Finisar Corp. (a) | 69 | ||||||
2,334 | Harmonic, Inc. (a) | 11 | ||||||
4,033 | Infinera Corp. (a) | 16 | ||||||
953 | InterDigital, Inc. | 63 | ||||||
469 | KVH Industries, Inc. (a) | 5 | ||||||
6,017 | Lumentum Holdings, Inc. (a) | 253 | ||||||
857 | NETGEAR, Inc. (a) | 45 | ||||||
2,059 | NetScout Systems, Inc. (a) | 49 | ||||||
897 | Plantronics, Inc. | 30 | ||||||
891 | Quantenna Communications, Inc. (a) | 13 | ||||||
1,368 | Ribbon Communications, Inc. (a) | 7 | ||||||
1,528 | ViaSat, Inc. (a) | 90 | ||||||
6,232 | Viavi Solutions, Inc. (a) | 63 | ||||||
|
| |||||||
1,691 | ||||||||
|
| |||||||
Construction & Engineering — 2.27% |
| |||||||
893 | Aegion Corp. (a) | 15 | ||||||
550 | Ameresco, Inc., Class – A (a) | 8 | ||||||
410 | Argan, Inc. | 16 | ||||||
1,001 | Comfort Systems USA, Inc. | 44 | ||||||
820 | Dycom Industries, Inc. (a) | 44 | ||||||
1,571 | EMCOR Group, Inc. | 94 | ||||||
6,198 | Granite Construction, Inc. | 250 | ||||||
1,659 | Great Lakes Dredge & Dock Co. (a) | 11 | ||||||
1,228 | HC2 Holdings, Inc. (a) | 3 | ||||||
264 | IES Holdings, Inc. (a) | 4 | ||||||
411 | Infrastructure and Energy Alternatives, Inc. (a) | 3 | ||||||
44,980 | KBR, Inc. | 682 | ||||||
16,680 | MasTec, Inc. (a) | 676 | ||||||
454 | MYR Group, Inc. (a) | 13 | ||||||
285 | Northwest Pipe Co. (a) | 7 | ||||||
254 | NV5 Holdings, Inc. (a) | 15 | ||||||
822 | Orion Group Holdings, Inc. (a) | 4 | ||||||
1,131 | Primoris Services Corp. | 22 | ||||||
751 | Sterling Construction Co., Inc. (a) | 8 | ||||||
64,296 | Tutor Perini Corp. (a) | 1,026 |
Shares | Security Description | Value (000) | ||||||
Construction & Engineering (continued) |
| |||||||
11,446 | Willscot Corp. (a) | $ | 108 | |||||
|
| |||||||
3,053 | ||||||||
|
| |||||||
Construction Materials — 0.46% |
| |||||||
2,249 | Eagle Materials, Inc., Class – A | 137 | ||||||
45,751 | Forterra, Inc.^ (a) | 172 | ||||||
1,483 | Martin Marietta Materials, Inc. | 256 | ||||||
3,090 | Summit Materials, Inc., Class – A (a) | 38 | ||||||
434 | U.S. Concrete, Inc. (a) | 15 | ||||||
60 | United States Lime & Minerals, Inc. | 4 | ||||||
|
| |||||||
622 | ||||||||
|
| |||||||
Consumer Finance — 0.57% |
| |||||||
316 | Curo Group Holdings Corp. (a) | 3 | ||||||
535 | Elevate Credit, Inc. (a) | 2 | ||||||
702 | Encore Capital Group, Inc. (a) | 16 | ||||||
920 | Enova International, Inc. (a) | 18 | ||||||
1,381 | EZCORP, Inc., Class – A (a) | 11 | ||||||
1,198 | Firstcash, Inc. | 87 | ||||||
4,296 | Green Dot Corp., Class – A (a) | 342 | ||||||
8,634 | LendingClub Corp. (a) | 23 | ||||||
505 | Nelnet, Inc., Class – A | 26 | ||||||
9,011 | PRA Group, Inc. (a) | 220 | ||||||
253 | Regional Management Corp. (a) | 6 | ||||||
168 | World Acceptance Corp. (a) | 17 | ||||||
|
| |||||||
771 | ||||||||
|
| |||||||
Containers & Packaging — 0.54% |
| |||||||
9,802 | Berry Plastics Group, Inc. (a) | 467 | ||||||
19,554 | Graphic Packaging Holding Co. | 208 | ||||||
145 | Greif, Inc. | 6 | ||||||
706 | Greif, Inc., Class – A | 26 | ||||||
953 | Myers Industries, Inc. | 14 | ||||||
191 | UFP Technologies, Inc. (a) | 6 | ||||||
|
| |||||||
727 | ||||||||
|
| |||||||
Distributors — 0.03% |
| |||||||
1,235 | Core-Mark Holding Co., Inc. | 29 | ||||||
302 | Funko, Inc. (a) | 4 | ||||||
183 | Weyco Group, Inc. | 5 | ||||||
|
| |||||||
38 | ||||||||
|
| |||||||
Diversified Consumer Services — 1.94% |
| |||||||
1,603 | Adtalem Global Education, Inc. (a) | 76 | ||||||
439 | American Public Education, Inc. (a) | 12 | ||||||
33,920 | Career Education Corp. (a) | 387 | ||||||
481 | Carriage Services, Inc. | 7 | ||||||
30,487 | Chegg, Inc. (a) | 867 | ||||||
2,861 | Houghton Mifflin Harcourt Co. (a) | 25 | ||||||
9,500 | K12, Inc. (a) | 236 | ||||||
2,594 | Laureate Education, Inc., Class – A (a) | 40 | ||||||
3,116 | Regis Corp. (a) | 53 | ||||||
968 | Sotheby’s (a) | 38 | ||||||
6,195 | Strategic Education, Inc. | 703 | ||||||
4,441 | Weight Watchers International, Inc. (a) | 171 | ||||||
|
| |||||||
2,615 | ||||||||
|
| |||||||
Diversified Financial Services — 0.46% |
| |||||||
839 | Banco Latinoamericano de Comercio Exterior SA, Class – E | 15 |
See accompanying notes to financial statements.
55
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Diversified Financial Services (continued) |
| |||||||
1,914 | Cannae Holdings, Inc. (a) | $ | 33 | |||||
3,918 | FGL Holdings (a) | 26 | ||||||
13,591 | Jefferies Financial Group, Inc. | 236 | ||||||
213 | Marlin Business Services Corp. | 5 | ||||||
52,478 | On Deck Capital, Inc. (a) | 309 | ||||||
|
| |||||||
624 | ||||||||
|
| |||||||
Diversified Telecommunication Services — 0.72% |
| |||||||
290 | ATN International, Inc. | 21 | ||||||
1,239 | Cincinnati Bell, Inc. (a) | 10 | ||||||
16,375 | Cogent Communications Group, Inc. | 740 | ||||||
1,896 | Consolidated Communications Holdings, Inc. | 19 | ||||||
2,821 | Frontier Communications Corp. (a) | 7 | ||||||
1,566 | Intelsat SA (a) | 34 | ||||||
2,648 | Iridium Communications, Inc. (a) | 49 | ||||||
524 | Ooma, Inc. (a) | 7 | ||||||
2,044 | ORBCOMM, Inc. (a) | 17 | ||||||
271 | pdvWireless, Inc. (a) | 10 | ||||||
6,086 | Vonage Holdings Corp. (a) | 53 | ||||||
1,064 | Windstream Holdings, Inc. (a) | 2 | ||||||
|
| |||||||
969 | ||||||||
|
| |||||||
Electric Utilities — 0.45% |
| |||||||
1,417 | ALLETE, Inc. | 108 | ||||||
1,116 | El Paso Electric Co. | 56 | ||||||
1,387 | IDACORP, Inc. | 129 | ||||||
958 | MGE Energy, Inc. | 57 | ||||||
1,099 | Otter Tail Corp. | 55 | ||||||
2,196 | PNM Resources, Inc. | 90 | ||||||
2,459 | Portland General Electric Co. | 113 | ||||||
250 | Spark Energy, Inc., Class – A | 2 | ||||||
|
| |||||||
610 | ||||||||
|
| |||||||
Electrical Equipment — 0.71% |
| |||||||
193 | Allied Motion Technologies, Inc. | 9 | ||||||
1,064 | Atkore International Group, Inc. (a) | 21 | ||||||
718 | AZZ, Inc. | 29 | ||||||
1,002 | Babcock & Wilcox Enterprises, Inc. (a) | — | ||||||
10,706 | Bloom Energy Corp., Class – A^ (a) | 107 | ||||||
4,823 | Encore Wire Corp. | 242 | ||||||
606 | Energous Corp. (a) | 4 | ||||||
1,160 | EnerSys | 90 | ||||||
2,271 | Enphase Energy, Inc. (a) | 11 | ||||||
1,924 | FuelCell Energy, Inc.^ (a) | 1 | ||||||
1,670 | Generac Holdings, Inc. (a) | 83 | ||||||
5,812 | Plug Power, Inc.^ (a) | 7 | ||||||
257 | Powell Industries, Inc. | 6 | ||||||
90 | Preformed Line Products Co. | 5 | ||||||
2,689 | Sunrun, Inc. (a) | 29 | ||||||
891 | Thermon Group Holdings, Inc. (a) | 18 | ||||||
391 | TPI Composites, Inc. (a) | 10 | ||||||
7,412 | Vicor Corp. (a) | 280 | ||||||
804 | Vivint Solar, Inc. (a) | 3 | ||||||
|
| |||||||
955 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Electronic Equipment, Instruments & Components — 3.50% |
| |||||||
6,182 | Anixter International, Inc. (a) | $ | 336 | |||||
316 | Arlo Technologies, Inc.^ (a) | 3 | ||||||
1,277 | AVX Corp. | 19 | ||||||
802 | Badger Meter, Inc. | 39 | ||||||
241 | BEL Fuse, Inc., Class – B | 4 | ||||||
1,098 | Belden, Inc. | 46 | ||||||
1,206 | Benchmark Electronics, Inc. | 26 | ||||||
16,215 | Celestica, Inc. (a) | 142 | ||||||
731 | Control4 Corp. (a) | 13 | ||||||
883 | CTS Corp. | 23 | ||||||
1,028 | Daktronics, Inc. | 8 | ||||||
896 | Electro Scientific Industries, Inc. (a) | 27 | ||||||
367 | ePlus, Inc. (a) | 26 | ||||||
5,185 | Fabrinet (a) | 267 | ||||||
458 | FARO Technologies, Inc. (a) | 19 | ||||||
5,886 | Fitbit, Inc., Class – A (a) | 29 | ||||||
33,241 | Flextronics International Ltd. (a) | 253 | ||||||
6,465 | II-VI, Inc. (a) | 210 | ||||||
5,461 | Insight Enterprises, Inc. (a) | 223 | ||||||
790 | Iteris, Inc. (a) | 3 | ||||||
8,379 | Itron, Inc. (a) | 396 | ||||||
24,267 | Jabil Circuit, Inc. | 601 | ||||||
1,535 | KEMET Corp. | 27 | ||||||
743 | Kimball Electronics, Inc. (a) | 12 | ||||||
2,414 | Knowles Corp. (a) | 32 | ||||||
1,019 | Littelfuse, Inc. | 175 | ||||||
1,080 | Maxwell Technologies, Inc.^ (a) | 2 | ||||||
92 | Mesa Laboratories, Inc. | 19 | ||||||
974 | Methode Electronics, Inc. | 23 | ||||||
496 | MTS Systems Corp. | 20 | ||||||
368 | Napco Security Technologies (a) | 6 | ||||||
614 | nLight, Inc. (a) | 11 | ||||||
3,025 | Novanta, Inc. (a) | 191 | ||||||
467 | OSI Systems, Inc. (a) | 34 | ||||||
277 | Par Technology Corp. (a) | 6 | ||||||
555 | Park Electrochemical Corp. | 10 | ||||||
321 | PC Connection, Inc. | 10 | ||||||
868 | Plexus Corp. (a) | 44 | ||||||
7,693 | Rogers Corp. (a) | 761 | ||||||
1,841 | Sanmina Corp. (a) | 44 | ||||||
8,070 | ScanSource, Inc. (a) | 277 | ||||||
1,145 | SYNNEX Corp. | 93 | ||||||
1,053 | Tech Data Corp. (a) | 86 | ||||||
2,536 | TTM Technologies, Inc. (a) | 25 | ||||||
3,649 | Vishay Intertechnology, Inc. | 66 | ||||||
296 | Vishay Precision Group, Inc. (a) | 9 | ||||||
|
| |||||||
4,696 | ||||||||
|
| |||||||
Energy Equipment & Services — 1.07% |
| |||||||
3,449 | Archrock, Inc. Com | 26 | ||||||
509 | Basic Energy Services, Inc. (a) | 2 | ||||||
915 | Bristow Group, Inc. (a) | 2 | ||||||
8,657 | C&J Energy Services, Inc. (a) | 118 | ||||||
1,054 | Cactus, Inc., Class – A (a) | 29 | ||||||
685 | CARBO Ceramics, Inc. (a) | 2 |
See accompanying notes to financial statements.
56
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Energy Equipment & Services (continued) |
| |||||||
858 | Covia Holdings Corp. (a) | $ | 3 | |||||
508 | Dawson Geophysical Co. (a) | 2 | ||||||
1,790 | Diamond Offshore Drilling, Inc. (a) | 17 | ||||||
3,515 | Dril-Quip, Inc. (a) | 106 | ||||||
34,418 | Ensco PLC, Class – A, ADR | 123 | ||||||
587 | Era Group, Inc. (a) | 5 | ||||||
890 | Exterran Corp. (a) | 16 | ||||||
2,229 | Forum Energy Technologies, Inc. (a) | 9 | ||||||
1,963 | Franks International N.V. (a) | 10 | ||||||
879 | FTS International, Inc. (a) | 6 | ||||||
3,801 | Helix Energy Solutions Group, Inc. (a) | 21 | ||||||
1,045 | Independence Contract Drilling, Inc. (a) | 3 | ||||||
263 | Ion Geophysical (a) | 1 | ||||||
1,475 | Keane Group, Inc. (a) | 12 | ||||||
315 | Key Energy Services, Inc. (a) | 1 | ||||||
553 | KLX Energy Services Holdings, Inc. (a) | 13 | ||||||
1,187 | Liberty Oilfield Services, Inc. | 15 | ||||||
338 | Mammoth Energy Services, Inc. | 6 | ||||||
740 | Matrix Service Co. (a) | 13 | ||||||
4,874 | McDermott International, Inc. (a) | 32 | ||||||
358 | Natural Gas Services Group, Inc. (a) | 6 | ||||||
293 | NCS Multistage Holdings, Inc. (a) | 1 | ||||||
2,440 | Newpark Resources, Inc. (a) | 17 | ||||||
399 | Nine Energy Service, Inc. (a) | 9 | ||||||
39,214 | Noble Corp. PLC (a) | 103 | ||||||
2,723 | Oceaneering International, Inc. (a) | 33 | ||||||
1,644 | Oil States International, Inc. (a) | 23 | ||||||
279 | PHI, Inc. (a) | 1 | ||||||
1,899 | Pioneer Energy Services Corp. (a) | 2 | ||||||
543 | Profire Energy, Inc. (a) | 1 | ||||||
1,909 | ProPetro Holding Corp. (a) | 24 | ||||||
123 | Quintana Energy Services, Inc. (a) | — | ||||||
397 | RigNet, Inc. (a) | 5 | ||||||
3,515 | Rowan Cos. PLC, Class – A (a) | 29 | ||||||
480 | SEACOR Holdings, Inc. (a) | 18 | ||||||
467 | SEACOR Marine Holdings, Inc. (a) | 5 | ||||||
1,208 | Select Energy Services, Inc. (a) | 8 | ||||||
666 | Smart Sand, Inc.^ (a) | 1 | ||||||
744 | Solaris Oilfield Infrastructure, Inc. | 9 | ||||||
9,452 | Superior Energy Services, Inc. (a) | 32 | ||||||
8,160 | TechnipFMC PLC | 160 | ||||||
3,249 | TETRA Technologies, Inc. (a) | 5 | ||||||
766 | Tidewater, Inc. (a) | 15 | ||||||
42,602 | Transocean Ltd. (a) | 296 | ||||||
1,433 | Unit Corp. (a) | 20 | ||||||
2,167 | US Silica Holdings, Inc. | 22 | ||||||
|
| |||||||
1,438 | ||||||||
|
| |||||||
Entertainment — 0.53% |
| |||||||
1,412 | AMC Entertainment Holdings, Inc., Class – A | 17 | ||||||
1,032 | Eros International PLC (a) | 9 | ||||||
95,789 | Global Eagle Entertainment, Inc. (a) | 215 | ||||||
3,128 | Glu Mobile, Inc. (a) | 25 | ||||||
1,481 | IMAX Corp. (a) | 28 | ||||||
293 | Liberty Braves Group (a) | 7 |
Shares | Security Description | Value (000) | ||||||
Entertainment (continued) |
| |||||||
998 | Liberty Braves Group (a) | $ | 25 | |||||
13,141 | Lions Gate Entertainment Corp., Class – B | 195 | ||||||
792 | Livexlive Media, Inc. (a) | 4 | ||||||
515 | Marcus Corp. | 20 | ||||||
7,147 | Pandora Media, Inc. (a) | 58 | ||||||
484 | Reading International, Inc. (a) | 7 | ||||||
568 | Rosetta Stone, Inc. (a) | 9 | ||||||
1,183 | World Wrestling Entertainment, Inc., Class – A | 88 | ||||||
|
| |||||||
707 | ||||||||
|
| |||||||
Equity Real Estate Investment Trusts — 2.71% |
| |||||||
2,201 | Acadia Realty Trust | 52 | ||||||
918 | Agree Realty Corp. | 54 | ||||||
1,846 | Alexander & Baldwin, Inc. (a) | 34 | ||||||
59 | Alexander’s, Inc. | 18 | ||||||
1,069 | American Assets Trust, Inc. | 43 | ||||||
2,383 | Americold Realty Trust | 61 | ||||||
1,369 | Armada Hoffler Properties, Inc. | 19 | ||||||
2,290 | Ashford Hospitality Trust | 9 | ||||||
683 | Bluerock Residential Growth REIT, Inc. | 6 | ||||||
773 | Braemar Hotels & Resorts, Inc. | 7 | ||||||
189 | BRT Apartments Corp. | 2 | ||||||
2,232 | CareTrust REIT, Inc. | 41 | ||||||
1,322 | Catchmark Timber Trust, Inc. | 9 | ||||||
4,578 | CBL & Associates Properties, Inc. | 9 | ||||||
2,552 | Cedar Realty Trust, Inc. | 8 | ||||||
1,223 | Chatham Lodging Trust | 22 | ||||||
1,662 | Chesapeake Lodging Trust | 40 | ||||||
1,010 | City Office REIT, Inc. | 10 | ||||||
485 | Clipper Realty, Inc. | 6 | ||||||
488 | Community Healthcare Trust, Inc. | 14 | ||||||
3,300 | CoreCivic, Inc. | 59 | ||||||
337 | Corenergy Infrastructure Trust, Inc. | 11 | ||||||
1,128 | CorePoint Lodging, Inc. | 14 | ||||||
16,578 | Corporate Office Properties Trust | 350 | ||||||
11,579 | Cousins Properties, Inc. | 91 | ||||||
10,033 | DiamondRock Hospitality Co. | 91 | ||||||
1,636 | Easterly Government Properties, Inc. | 26 | ||||||
968 | EastGroup Properties, Inc. | 89 | ||||||
931 | Farmland Partners, Inc. | 4 | ||||||
3,425 | First Industrial Realty Trust, Inc. | 99 | ||||||
1,894 | Four Corners Property Trust, Inc. | 50 | ||||||
2,892 | Franklin Street Properties Corp. | 18 | ||||||
1,402 | Front Yard Residential Corp. | 12 | ||||||
917 | Getty Realty Corp. | 27 | ||||||
793 | Gladstone Commercial Corp. | 14 | ||||||
315 | Gladstone Land Corp. | 4 | ||||||
559 | Global Medical REIT, Inc. | 5 | ||||||
1,993 | Global Net Lease, Inc. | 35 | ||||||
2,669 | Government Properties Income Trust^ | 18 | ||||||
3,414 | Healthcare Realty Trust, Inc. | 97 | ||||||
968 | Hersha Hospitality Trust | 17 | ||||||
2,487 | Independence Realty Trust, Inc. | 23 | ||||||
1,789 | Industrial Logistics Property Trust | 35 | ||||||
1,237 | InfraREIT, Inc. | 26 | ||||||
253 | Innovative Industrial Properties, Inc. | 11 |
See accompanying notes to financial statements.
57
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
334 | Investors Real Estate Trust | $ | 16 | |||||
1,822 | iStar, Inc. | 17 | ||||||
491 | Jernigan Capital, Inc. | 10 | ||||||
2,281 | Kite Realty Group Trust | 32 | ||||||
5,887 | Lexington Realty Trust | 48 | ||||||
1,082 | LTC Properties, Inc. | 45 | ||||||
2,524 | Mack-Cali Realty Corp. | 49 | ||||||
835 | Medequities Realty Trust, Inc. | 6 | ||||||
2,390 | Monmouth Real Estate Investment Corp., Class – A | 30 | ||||||
1,126 | National Health Investors, Inc. | 85 | ||||||
1,535 | National Storage Affiliates | 41 | ||||||
2,029 | New Senior Investment Group, Inc. | 8 | ||||||
504 | Nexpoint Residential Trust, Inc. | 18 | ||||||
1,216 | NorthStar Realty Europe Corp. | 18 | ||||||
418 | One Liberty Properties, Inc. | 10 | ||||||
3,752 | Pebblebrook Hotel Trust | 106 | ||||||
1,896 | Pennsylvania Real Estate Investment Trust | 11 | ||||||
5,049 | Physicians Realty Trust | 81 | ||||||
3,531 | Piedmont Office Realty Trust, Inc., Class – A | 60 | ||||||
1,837 | Potlatch Corp. | 58 | ||||||
1,081 | Preferred Apartment Communities, Inc., Class – A | 15 | ||||||
548 | PS Business Parks, Inc. | 72 | ||||||
1,404 | QTS Realty Trust, Inc., Class – L | 52 | ||||||
3,019 | Retail Opportunity Investments Corp. | 48 | ||||||
2,502 | Rexford Industrial Realty, Inc. | 74 | ||||||
4,793 | RLJ Lodging Trust | 79 | ||||||
2,144 | RPT Realty | 26 | ||||||
1,231 | Ryman Hospitality Properties, Inc. | 82 | ||||||
4,892 | Sabra Healthcare REIT, Inc. | 81 | ||||||
216 | Safety Income and Growth, Inc. | 4 | ||||||
314 | Saul Centers, Inc. | 15 | ||||||
906 | Seritage Growth Properties | 29 | ||||||
1,130 | Spirit MTA REIT | 8 | ||||||
2,688 | STAG Industrial, Inc. | 67 | ||||||
2,830 | Summit Hotel Properties, Inc. | 28 | ||||||
6,304 | Sunstone Hotel Investors, Inc. | 82 | ||||||
2,534 | Tanger Factory Outlet Centers, Inc. | 51 | ||||||
1,585 | Terreno Realty Corp. | 56 | ||||||
3,336 | The Geo Group, Inc. | 66 | ||||||
1,471 | Tier REIT, Inc. | 30 | ||||||
883 | UMH Properties, Inc. | 10 | ||||||
350 | Universal Health Realty Income Trust | 21 | ||||||
3,014 | Urban Edge Properties | 50 | ||||||
830 | Urstadt Biddle Properties, Inc., Class – A | 16 | ||||||
5,053 | Washington Prime Group, Inc. | 25 | ||||||
2,171 | Washington Real Estate Investment Trust | 50 | ||||||
1,030 | Whitestone REIT | 13 | ||||||
3,107 | Xenia Hotels & Resorts, Inc. | 53 | ||||||
|
| |||||||
3,642 | ||||||||
|
| |||||||
Food & Staples Retailing — 0.37% |
| |||||||
1,963 | BJ’s Wholesale Club Holdings, Inc., Class – C (a) | 44 | ||||||
7,332 | Chefs’ Warehouse Holdings LLC (a) | 235 |
Shares | Security Description | Value (000) | ||||||
Food & Staples Retailing (continued) |
| |||||||
400 | Ingles Markets, Inc., Class – A | $ | 11 | |||||
278 | Natural Grocers by Vitamin Cottage, Inc. (a) | 4 | ||||||
2,809 | Performance Food Group Co. (a) | 91 | ||||||
599 | PriceSmart, Inc. | 35 | ||||||
28,443 | Rite Aid Corp. (a) | 20 | ||||||
704 | Smart & Final Stores, Inc. (a) | 3 | ||||||
953 | SpartanNash Co. | 16 | ||||||
735 | The Andersons, Inc. | 22 | ||||||
1,382 | United Natural Foods, Inc. (a) | — | ||||||
237 | Village Super Market, Inc., Class – A | 6 | ||||||
264 | Weis Markets, Inc. | 13 | ||||||
|
| |||||||
500 | ||||||||
|
| |||||||
Food Products — 0.60% |
| |||||||
110 | Alico, Inc. | 3 | ||||||
1,832 | B&G Foods, Inc., Class – A^ | 53 | ||||||
438 | Calavo Growers, Inc. | 32 | ||||||
876 | Cal-Maine Foods, Inc. | 37 | ||||||
15,548 | Darling Ingredients, Inc. (a) | 300 | ||||||
2,466 | Dean Foods Co. | 9 | ||||||
250 | Farmer Brothers Co. (a) | 6 | ||||||
827 | Fresh Del Monte Produce, Inc. | 23 | ||||||
708 | Freshpet, Inc. (a) | 23 | ||||||
2,658 | Hostess Brands, Inc. (a) | 29 | ||||||
416 | J&J Snack Foods Corp. | 60 | ||||||
237 | John B. Sanfilippo & Son, Inc. | 13 | ||||||
521 | Lancaster Colony Corp. | 93 | ||||||
773 | Landec Corp. (a) | 9 | ||||||
429 | Limoneira Co. | 8 | ||||||
566 | Sanderson Farms, Inc. | 56 | ||||||
207 | Seneca Foods Corp., Class – A (a) | 6 | ||||||
1,656 | Simply Good Foods Co. (The) (a) | 31 | ||||||
475 | Tootsie Roll Industries, Inc. | 16 | ||||||
|
| |||||||
807 | ||||||||
|
| |||||||
Gas Utilities — 0.43% |
| |||||||
434 | Chesapeake Utilities Corp. | 35 | ||||||
2,398 | New Jersey Resources Corp. | 110 | ||||||
799 | Northwest Natural Holding Co. | 48 | ||||||
1,432 | One Gas, Inc. | 115 | ||||||
202 | RGC Resources, Inc. | 6 | ||||||
2,383 | South Jersey Industries, Inc. | 66 | ||||||
1,348 | Southwest Gas Corp. | 103 | ||||||
1,356 | Spire, Inc. | 100 | ||||||
|
| |||||||
583 | ||||||||
|
| |||||||
Health Care Equipment & Supplies — 6.52% |
| |||||||
2,397 | Accuray, Inc. (a) | 8 | ||||||
1,010 | AngioDynamics, Inc. (a) | 20 | ||||||
398 | Anika Therapeutics, Inc. (a) | 13 | ||||||
4,148 | Antares Pharma, Inc. (a) | 11 | ||||||
1,009 | AtriCure, Inc. (a) | 31 | ||||||
39 | Atrion Corp. | 29 | ||||||
1,286 | Avanos Medical, Inc. (a) | 58 | ||||||
6,155 | AxoGen, Inc. (a) | 126 | ||||||
13,072 | Cardiovascular Systems, Inc. (a) | 372 |
See accompanying notes to financial statements.
58
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Equipment & Supplies (continued) |
| |||||||
3,722 | Cerus Corp. (a) | $ | 19 | |||||
685 | CONMED Corp. | 44 | ||||||
959 | CryoLife, Inc. (a) | 27 | ||||||
769 | Cryoport, Inc. (a) | 8 | ||||||
365 | Cutera, Inc. (a) | 6 | ||||||
841 | CytoSorbents Corp. (a) | 7 | ||||||
5,104 | Dexcom, Inc. (a) | 611 | ||||||
3,548 | Edwards Lifesciences Corp. (a) | 543 | ||||||
165 | Electrocore LLC (a) | 1 | ||||||
2,095 | Endologix, Inc. (a) | 2 | ||||||
186 | Fonar Corp. (a) | 4 | ||||||
1,464 | GenMark Diagnostics, Inc. (a) | 7 | ||||||
7,635 | Glaukos Corp. (a) | 429 | ||||||
1,999 | Globus Medical, Inc., Class – A (a) | 87 | ||||||
1,426 | Haemonetics Corp. (a) | 143 | ||||||
398 | Helius Medical Technologies, Inc. (a) | 4 | ||||||
180 | Heska Corp. (a) | 15 | ||||||
486 | Inogen, Inc. (a) | 60 | ||||||
13,002 | Insulet Corp. (a) | 1,030 | ||||||
849 | Integer Holdings Corp. (a) | 65 | ||||||
209 | Intricon Corp. (a) | 6 | ||||||
889 | Invacare Corp. | 4 | ||||||
73 | Iradimed Corp. (a) | 2 | ||||||
5,875 | iRhythm Technologies, Inc. (a) | 408 | ||||||
1,001 | Lantheus Holdings, Inc. (a) | 16 | ||||||
421 | LeMaitre Vascular, Inc. | 10 | ||||||
3,947 | LivaNova PLC (a) | 361 | ||||||
1,159 | Meridian Bioscience, Inc. | 20 | ||||||
1,466 | Merit Medical Systems, Inc. (a) | 82 | ||||||
871 | Natus Medical, Inc. (a) | 30 | ||||||
1,387 | Neogen Corp. (a) | 79 | ||||||
1,374 | Neuronetics, Inc. (a) | 27 | ||||||
787 | Nevro Corp. (a) | 31 | ||||||
13,455 | Novocure Ltd. (a) | 450 | ||||||
1,415 | NuVasive, Inc. (a) | 70 | ||||||
472 | Nuvectra Corp. (a) | 8 | ||||||
1,778 | NxStage Medical, Inc. (a) | 51 | ||||||
1,624 | OraSure Technologies, Inc. (a) | 19 | ||||||
472 | Orthofix Medical, Inc. (a) | 25 | ||||||
207 | Orthopediatrics Corp. (a) | 7 | ||||||
731 | Oxford Immunotec Global PLC (a) | 9 | ||||||
275 | Pulse Biosciences, Inc. (a) | 3 | ||||||
944 | Quidel Corp. (a) | 46 | ||||||
1,392 | Rockwell Medical Technologies, Inc. (a) | 3 | ||||||
1,607 | RTI Surgical, Inc. (a) | 6 | ||||||
362 | Seaspine Holdings Corp. (a) | 7 | ||||||
2,491 | Senseonics Holdings, Inc. (a) | 6 | ||||||
620 | Sientra, Inc. (a) | 8 | ||||||
23,336 | STAAR Surgical Co. (a) | 745 | ||||||
2,418 | Steris PLC | 258 | ||||||
362 | SurModics, Inc. (a) | 17 | ||||||
490 | Tactile Systems Technology, Inc. (a) | 22 | ||||||
23,772 | Tandem Diabetes Care, Inc. (a) | 903 | ||||||
3,641 | The Cooper Companies, Inc. | 926 |
Shares | Security Description | Value (000) | ||||||
Health Care Equipment & Supplies (continued) |
| |||||||
4,339 | Transenterix, Inc.^ (a) | $ | 10 | |||||
98 | Utah Medical Products, Inc. | 8 | ||||||
9,266 | Varex Imaging Corp. (a) | 219 | ||||||
1,631 | Viewray, Inc.^ (a) | 10 | ||||||
3,426 | Wright Medical Group NV (a) | 93 | ||||||
|
| |||||||
8,785 | ||||||||
|
| |||||||
Health Care Providers & Services — 2.08% |
| |||||||
353 | AAC Holdings, Inc. (a) | — | ||||||
12,804 | Acadia Healthcare Company, Inc. (a) | 329 | ||||||
256 | Addus HomeCare Corp. (a) | 17 | ||||||
738 | Amedisys, Inc. (a) | 86 | ||||||
352 | American Renal Associates Holdings, Inc. (a) | 4 | ||||||
1,269 | AMN Healthcare Services, Inc. (a) | 72 | ||||||
96 | Apollo Medical Holdings, Inc. (a) | 2 | ||||||
3,375 | BioScrip, Inc. (a) | 12 | ||||||
897 | Biotelemetry, Inc. (a) | 54 | ||||||
5,247 | Brookdale Senior Living, Inc. (a) | 35 | ||||||
718 | Capital Senior Living Corp. (a) | 5 | ||||||
464 | Civitas Solutions, Inc. (a) | 8 | ||||||
2,331 | Community Health Systems, Inc. (a) | 7 | ||||||
256 | CorVel Corp. (a) | 16 | ||||||
1,016 | Cross Country Healthcare, Inc. (a) | 7 | ||||||
21,453 | Diplomat Pharmacy, Inc. (a) | 289 | ||||||
3,286 | Encompass Health Corp. | 203 | ||||||
1,336 | Genesis Healthcare, Inc. (a) | 2 | ||||||
3,343 | Guardant Health, Inc. (a) | 123 | ||||||
1,487 | HealthEquity, Inc. (a) | 89 | ||||||
5,837 | LHC Group, Inc. (a) | 548 | ||||||
665 | Magellan Health Services, Inc. (a) | 38 | ||||||
6,040 | MEDNAX, Inc. (a) | 199 | ||||||
327 | National Healthcare Corp. | 26 | ||||||
298 | National Research Corp., Class – A | 11 | ||||||
1,651 | Owens & Minor, Inc. | 10 | ||||||
2,270 | Patterson Companies, Inc. | 45 | ||||||
430 | Petiq, Inc. (a) | 10 | ||||||
313 | Providence Service Corp. (a) | 19 | ||||||
678 | Quorum Health Corp. (a) | 2 | ||||||
2,774 | R1 RCM, Inc. (a) | 22 | ||||||
15,582 | RadNet, Inc. (a) | 158 | ||||||
3,000 | Select Medical Holdings Corp. (a) | 46 | ||||||
522 | Surgery Partners, Inc. (a) | 5 | ||||||
2,304 | Tenet Healthcare Corp. (a) | 39 | ||||||
1,362 | The Ensign Group, Inc. | 53 | ||||||
1,119 | Tivity Health, Inc. (a) | 28 | ||||||
8,278 | Triple-S Management Corp., Class – A (a) | 144 | ||||||
349 | U.S. Physical Therapy, Inc. | 36 | ||||||
|
| |||||||
2,799 | ||||||||
|
| |||||||
Health Care Technology — 0.84% |
| |||||||
4,734 | Allscripts Healthcare Solutions, Inc. (a) | 46 | ||||||
1,894 | Castlight Health, Inc., Class – B (a) | 4 | ||||||
329 | Computer Programs & Systems, Inc. | 8 | ||||||
1,885 | Evolent Health, Inc. (a) | 38 | ||||||
713 | HealthStream, Inc. | 17 | ||||||
2,282 | HMS Holdings Corp. (a) | 64 | ||||||
1,928 | Inovalon Holdings, Inc., Class – A (a) | 27 |
See accompanying notes to financial statements.
59
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Health Care Technology (continued) |
| |||||||
324 | Inspire Medical System, Inc. (a) | $ | 14 | |||||
1,587 | Medidata Solutions, Inc. (a) | 107 | ||||||
421 | Nanthealth, Inc.^ (a) | — | ||||||
1,467 | NextGen Healthcare, Inc. (a) | 22 | ||||||
1,057 | Omnicell, Inc. (a) | 65 | ||||||
326 | Simulations Plus, Inc. | 6 | ||||||
486 | Tabula Rasa Healthcare, Inc. (a) | 31 | ||||||
13,107 | Teladoc, Inc. (a) | 651 | ||||||
841 | Vocera Communications, Inc. (a) | 33 | ||||||
|
| |||||||
1,133 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure — 1.33% |
| |||||||
1,723 | BBX Capital Corp. | 10 | ||||||
2,475 | Belmond Ltd. (a) | 62 | ||||||
2 | Biglari Holdings, Inc., Class – A (a) | 1 | ||||||
29 | Biglari Holdings, Inc., Class – B (a) | 3 | ||||||
557 | BJ’s Restaurant, Inc. | 28 | ||||||
2,277 | Bloomin’ Brands, Inc. | 41 | ||||||
209 | Bluegreen Vacations Corp. | 3 | ||||||
506 | Bojangles’, Inc. (a) | 8 | ||||||
2,253 | Boyd Gaming Corp. | 47 | ||||||
1,062 | Brinker International, Inc. | 47 | ||||||
983 | Carrols Restaurant Group, Inc. (a) | 10 | ||||||
682 | Century Casinos, Inc. (a) | 5 | ||||||
323 | Churchill Downs, Inc. | 79 | ||||||
469 | Chuy’s Holdings, Inc. (a) | 8 | ||||||
530 | Cracker Barrel Old Country Store, Inc. | 85 | ||||||
1,104 | Dave & Buster’s Entertainment, Inc. | 49 | ||||||
905 | Del Frisco’s Restaurant Group, Inc. (a) | 6 | ||||||
832 | Del Taco Restaurants, Inc. (a) | 8 | ||||||
1,668 | Denny’s Corp. (a) | 27 | ||||||
455 | DineEquity, Inc. | 31 | ||||||
1,571 | Drive Shack, Inc. (a) | 6 | ||||||
606 | El Pollo Loco Holdings, Inc. (a) | 9 | ||||||
1,796 | Eldorado Resorts, Inc. (a) | 65 | ||||||
92 | Empire Resorts, Inc. (a) | 1 | ||||||
665 | Fiesta Restaurant Group, Inc. (a) | 10 | ||||||
491 | Golden Entertainment, Inc. (a) | 8 | ||||||
655 | International Speedway Corp., Class – A | 29 | ||||||
391 | J Alexander’s Holdings, Inc. (a) | 3 | ||||||
758 | Jack in the Box, Inc. | 59 | ||||||
581 | Lindblad Expeditions Holdings, Inc. (a) | 8 | ||||||
1,070 | Marriott Vacations Worldwide Corp. | 75 | ||||||
303 | Monarch Casino & Resort, Inc. (a) | 12 | ||||||
85 | Nathan’s Famous, Inc. | 6 | ||||||
333 | Noodles & Co. (a) | 2 | ||||||
604 | Papa John’s International, Inc. | 24 | ||||||
2,961 | Penn National Gaming, Inc. (a) | 56 | ||||||
8,205 | Planet Fitness, Inc., Class – A (a) | 441 | ||||||
594 | PlayAGS, Inc. (a) | 14 | ||||||
666 | Potbelly Corp. (a) | 5 | ||||||
266 | RCI Hospitality Holdings, Inc. | 6 | ||||||
499 | Red Lion Hotels Corp. (a) | 4 | ||||||
357 | Red Robin Gourmet Burgers, Inc. (a) | 10 | ||||||
1,889 | Red Rock Resorts, Inc., Class – A | 38 |
Shares | Security Description | Value (000) | ||||||
Hotels, Restaurants & Leisure (continued) |
| |||||||
809 | Ruth’s Hospitality Group, Inc. | $ | 18 | |||||
1,486 | Scientific Games Corp., Class – A (a) | 27 | ||||||
1,515 | SeaWorld Entertainment, Inc. (a) | 33 | ||||||
665 | Shake Shack, Inc., Class – A (a) | 30 | ||||||
275 | Speedway Motorsports, Inc. | 4 | ||||||
1,863 | Texas Roadhouse, Inc., Class – A | 111 | ||||||
1,161 | The Cheesecake Factory, Inc. | 51 | ||||||
605 | The Habit Restaurants, Inc. (a) | 6 | ||||||
349 | Town Sports International Holdings, Inc. (a) | 2 | ||||||
799 | Wingstop, Inc. | 51 | ||||||
|
| |||||||
1,782 | ||||||||
|
| |||||||
Household Durables — 1.52% |
| |||||||
295 | Bassett Furniture Industries, Inc. | 6 | ||||||
842 | Beazer Homes USA, Inc. (a) | 8 | ||||||
1,079 | Cavco Industries, Inc. (a) | 141 | ||||||
8,555 | Century Communities, Inc. (a) | 148 | ||||||
638 | Ethan Allen Interiors, Inc. | 11 | ||||||
223 | Flexsteel Industries, Inc. | 5 | ||||||
3,050 | Gopro, Inc., Class – A (a) | 13 | ||||||
686 | Green Brick Partners, Inc. (a) | 5 | ||||||
156 | Hamilton Beach Brands Holding Co. | 4 | ||||||
730 | Helen of Troy Ltd. (a) | 96 | ||||||
324 | Hooker Furniture Corp. | 9 | ||||||
3,635 | Hovnanian Enterprises, Inc., Class – A (a) | 2 | ||||||
594 | Installed Building Products, Inc. (a) | 20 | ||||||
8,308 | iRobot Corp. (a) | 696 | ||||||
2,398 | KB Home | 46 | ||||||
1,268 | La-Z-Boy, Inc. | 35 | ||||||
4,469 | LGI Homes, Inc.^ (a) | 202 | ||||||
290 | Lifetime Brands, Inc. | 3 | ||||||
155 | Lovesac Co. (The) (a) | 4 | ||||||
733 | M/I Homes, Inc. (a) | 15 | ||||||
1,226 | MDC Holdings, Inc. | 34 | ||||||
1,048 | Meritage Homes Corp. (a) | 38 | ||||||
210 | Purple Innovation, Inc. (a) | 1 | ||||||
1,177 | Roku, Inc. (a) | 36 | ||||||
811 | Skyline Champion Corp. | 12 | ||||||
426 | Sonos, Inc. (a) | 4 | ||||||
3,236 | Taylor Morrison Home Corp., Class – A (a) | 51 | ||||||
381 | The New Home Co., Inc. (a) | 2 | ||||||
977 | TopBuild Corp. (a) | 44 | ||||||
3,892 | TRI Pointe Homes, Inc. (a) | 43 | ||||||
1,338 | Tupperware Brands Corp. | 42 | ||||||
190 | Turtle Beach Corp.^ (a) | 3 | ||||||
9,853 | Universal Electronics, Inc. (a) | 249 | ||||||
568 | Vuzix Corp. (a) | 3 | ||||||
887 | William Lyon Homes, Class – A (a) | 9 | ||||||
768 | Zagg, Inc. (a) | 8 | ||||||
|
| |||||||
2,048 | ||||||||
|
| |||||||
Household Products — 0.09% |
| |||||||
299 | Central Garden & Pet Co. (a) | 10 | ||||||
1,097 | Central Garden & Pet Co., Class – A (a) | 34 | ||||||
149 | Oil-Dri Corporation of America | 4 | ||||||
374 | WD-40 Co. | 69 | ||||||
|
| |||||||
117 | ||||||||
|
|
See accompanying notes to financial statements.
60
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Independent Power and Renewable Electricity Producers — 0.14% |
| |||||||
3,356 | Atlantic Power Corp. (a) | $ | 7 | |||||
981 | Clearway Energy, Inc., Class – A | 17 | ||||||
2,017 | Clearway Energy, Inc., Class – C | 35 | ||||||
1,098 | Ormat Technologies, Inc. | 57 | ||||||
2,266 | Pattern Energy Group, Inc. | 42 | ||||||
1,958 | Terraform Power, Inc., Class – A | 22 | ||||||
|
| |||||||
180 | ||||||||
|
| |||||||
Industrial Conglomerates — 0.03% |
| |||||||
991 | Raven Industries, Inc. | 36 | ||||||
|
| |||||||
Insurance — 2.84% |
| |||||||
1,245 | Ambac Financial Group, Inc. (a) | 21 | ||||||
9,221 | American Equity Investment Life Holding Co. | 258 | ||||||
529 | AMERISAFE, Inc. | 30 | ||||||
3,771 | Argo Group International Holdings Ltd. | 254 | ||||||
5,288 | Aspen Insurance Holdings Ltd. | 222 | ||||||
5,824 | AXIS Capital Holdings Ltd. | 301 | ||||||
1,344 | Citizens, Inc.^ (a) | 10 | ||||||
4,544 | CNO Financial Group, Inc. | 68 | ||||||
378 | Crawford & Co. | 3 | ||||||
270 | Donegal Group, Inc. | 4 | ||||||
505 | eHealth, Inc. (a) | 19 | ||||||
253 | EMC Insurance Group, Inc. | 8 | ||||||
871 | Employers Holdings, Inc. | 37 | ||||||
331 | Enstar Group Ltd. (a) | 55 | ||||||
1,826 | Everest Re Group Ltd. | 397 | ||||||
274 | FBL Financial Group, Inc., Class – A | 18 | ||||||
352 | FedNat Holding Co. | 7 | ||||||
14,048 | Genworth Financial, Inc., Class – A (a) | 65 | ||||||
240 | Global Indemnity Ltd. | 9 | ||||||
16,669 | Goosehead Insurance, Inc. (a) | 438 | ||||||
852 | Greenlight Capital Re Ltd. (a) | 7 | ||||||
317 | Hallmark Financial Services, Inc. (a) | 3 | ||||||
1,688 | Hanover Insurance Group, Inc. | 197 | ||||||
199 | HCI Group, Inc. | 10 | ||||||
361 | Health Insurance Innovations, Inc., Class – A (a) | 10 | ||||||
545 | Heritage Insurance Holdings, Inc. | 8 | ||||||
1,155 | Horace Mann Educators Corp. | 43 | ||||||
142 | Independence Holding Co. | 5 | ||||||
43 | Investors Title Co. | 8 | ||||||
706 | James River Group Holdings | 26 | ||||||
4,145 | Kemper Corp. | 275 | ||||||
274 | Kingstone Cos., Inc. | 5 | ||||||
550 | Kinsale Capital Group, Inc. | 31 | ||||||
1,799 | Maiden Holdings Ltd. | 3 | ||||||
2,459 | MBIA, Inc. (a) | 22 | ||||||
1,773 | National General Holdings Corp. | 43 | ||||||
62 | National Western Life Group, Inc., Class – A | 19 | ||||||
305 | NI Holdings, Inc. (a) | 5 | ||||||
1,184 | Primerica, Inc. | 116 | ||||||
1,463 | ProAssurance Corp. | 59 | ||||||
276 | Protective Insurance Corp., Class – B | 5 | ||||||
1,083 | RLI Corp. | 75 | ||||||
405 | Safety Insurance Group, Inc. | 33 |
Shares | Security Description | Value (000) | ||||||
Insurance (continued) |
| |||||||
1,598 | Selective Insurance Group, Inc. | $ | 97 | |||||
440 | State Auto Financial Corp. | 15 | ||||||
630 | Stewart Information Services Corp. | 26 | ||||||
569 | The Navigators Group, Inc. | 40 | ||||||
2,138 | Third Point Reinsurance Ltd. (a) | 21 | ||||||
774 | Tiptree, Inc., Class B | 4 | ||||||
708 | Trupanion, Inc. (a) | 18 | ||||||
586 | United Fire Group, Inc. | 32 | ||||||
569 | United Insurance Holdings Corp. | 9 | ||||||
863 | Universal Insurance Holdings, Inc. | 33 | ||||||
4,120 | W.R. Berkley Corp. | 305 | ||||||
|
| |||||||
3,832 | ||||||||
|
| |||||||
Interactive Media & Services — 0.40% |
| |||||||
4,272 | Care.com, Inc. (a) | 82 | ||||||
1,395 | Cargurus, Inc. (a) | 47 | ||||||
1,911 | Cars.com, Inc. (a) | 41 | ||||||
1,991 | Liberty TripAdvisor Holdings, Inc., Class – A (a) | 32 | ||||||
13,687 | QuinStreet, Inc. (a) | 223 | ||||||
1,987 | The Meet Group, Inc. (a) | 9 | ||||||
104 | Travelzoo, Inc. (a) | 1 | ||||||
2,576 | TrueCar, Inc. (a) | 23 | ||||||
2,231 | �� | Yelp, Inc. (a) | 78 | |||||
|
| |||||||
536 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail — 0.80% |
| |||||||
713 | 1-800-FLOWERS.COM, Inc., Class – A (a) | 9 | ||||||
216 | Duluth Holdings, Inc., Class – B (a) | 5 | ||||||
8,571 | Etsy, Inc. (a) | 407 | ||||||
269 | Gaia, Inc. (a) | 3 | ||||||
12,162 | Groupon, Inc. (a) | 39 | ||||||
1,997 | GrubHub, Inc. (a) | 153 | ||||||
286 | Lands’ End, Inc. (a) | 4 | ||||||
449 | Leaf Group Ltd. (a) | 3 | ||||||
1,501 | Liberty Expedia Holdings, Class – A (a) | 59 | ||||||
785 | Liquidity Services, Inc. (a) | 5 | ||||||
816 | NutriSystem, Inc. | 36 | ||||||
558 | Overstock.com, Inc. (a) | 8 | ||||||
546 | PetMed Express, Inc. | 13 | ||||||
2,209 | Quotient Technology, Inc. (a) | 24 | ||||||
643 | Remark Holdings, Inc. (a) | 1 | ||||||
910 | Shutterfly, Inc. (a) | 37 | ||||||
513 | Shutterstock, Inc. | 18 | ||||||
484 | Stamps.com, Inc. (a) | 75 | ||||||
10,574 | Stitch Fix, Inc., Class – A (a) | 180 | ||||||
|
| |||||||
1,079 | ||||||||
|
| |||||||
IT Services — 1.97% |
| |||||||
2,149 | Alliance Data Systems Corp. | 323 | ||||||
50,786 | Brightcove, Inc. (a) | 357 | ||||||
675 | CACI International, Inc., Class – A (a) | 97 | ||||||
850 | Carbonite, Inc. (a) | 21 | ||||||
1,079 | Cardtronics PLC (a) | 28 | ||||||
398 | Cass Information Systems, Inc. | 21 | ||||||
790 | ConvergeOne Holdings, Inc. | 10 | ||||||
903 | CSG Systems International, Inc. | 29 | ||||||
1,890 | Endurance International Group Holdings, Inc. (a) | 13 |
See accompanying notes to financial statements.
61
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
IT Services (continued) |
| |||||||
3,194 | Euronet Worldwide, Inc. (a) | $ | 327 | |||||
1,841 | Everi Holdings, Inc. (a) | 9 | ||||||
12,761 | EVERTEC, Inc. | 366 | ||||||
653 | Evo Payments, Inc., Class – A (a) | 16 | ||||||
1,245 | Exela Technologies, Inc. (a) | 5 | ||||||
922 | Exlservice Holdings, Inc. (a) | 49 | ||||||
3,169 | Global Payments, Inc. | 327 | ||||||
1,149 | GTT Communications, Inc.^ (a) | 27 | ||||||
206 | I3 Verticals, Inc., Class – A (a) | 5 | ||||||
994 | Information Services Group, Inc. (a) | 4 | ||||||
597 | Internap Corp. (a) | 2 | ||||||
2,896 | Limelight Networks, Inc. (a) | 7 | ||||||
2,148 | LiveRamp Holdings, Inc. (a) | 83 | ||||||
715 | ManTech International Corp., Class – A | 37 | ||||||
1,756 | MAXIMUS, Inc. | 114 | ||||||
841 | MoneyGram International, Inc. (a) | 2 | ||||||
1,740 | NIC, Inc. | 22 | ||||||
888 | Perficient, Inc. (a) | 20 | ||||||
3,952 | Perspecta, Inc. | 68 | ||||||
365 | PFSweb, Inc. (a) | 2 | ||||||
1,003 | Presidio, Inc. | 13 | ||||||
501 | PRGX Global, Inc. | 5 | ||||||
1,155 | Science Applications International Corp. | 74 | ||||||
2,241 | ServiceSource International, Inc. (a) | 2 | ||||||
1,086 | Sykes Enterprises, Inc. (a) | 27 | ||||||
668 | The Hackett Group, Inc. | 11 | ||||||
3,411 | Travelport Worldwide Ltd. | 53 | ||||||
385 | TTEC Holdings, Inc. | 11 | ||||||
256 | Tucows, Inc. (a) | 15 | ||||||
1,416 | Unisys Corp. (a) | 16 | ||||||
788 | Virtusa Corp. (a) | 34 | ||||||
|
| |||||||
2,652 | ||||||||
|
| |||||||
Leisure Products — 0.65% |
| |||||||
935 | Acushnet Holdings Corp. | 20 | ||||||
1,508 | American Outdoor Brands Corp. (a) | 19 | ||||||
21,757 | Callaway Golf Co. | 333 | ||||||
630 | Clarus Corp. | 6 | ||||||
324 | Escalade, Inc. | 4 | ||||||
139 | Johnson Outdoors, Inc., Class – A | 8 | ||||||
569 | Malibu Boats, Inc., Class – A (a) | 20 | ||||||
197 | Marine Products Corp. | 3 | ||||||
518 | Mastercraft Boat Holdings, Inc. (a) | 10 | ||||||
768 | Nautilus, Inc. (a) | 8 | ||||||
457 | Sturm, Ruger & Co., Inc. | 24 | ||||||
37,151 | Vista Outdoor, Inc. (a) | 423 | ||||||
233 | Yeti Holdings, Inc. (a) | 3 | ||||||
|
| |||||||
881 | ||||||||
|
| |||||||
Life Sciences Tools & Services — 0.53% |
| |||||||
729 | Accelerate Diagnostics, Inc. (a) | 8 | ||||||
890 | Cambrex Corp. (a) | 34 | ||||||
906 | Chromadex Corp. (a) | 3 | ||||||
1,368 | Codexis, Inc. (a) | 23 | ||||||
1,286 | ENZO Biochem, Inc. (a) | 4 | ||||||
717 | Fluidigm Corp. (a) | 6 |
Shares | Security Description | Value (000) | ||||||
Life Sciences Tools & Services (continued) |
| |||||||
853 | Harvard Bioscience, Inc. (a) | $ | 3 | |||||
1,121 | Luminex Corp. | 26 | ||||||
588 | Medpace Holdings, Inc. (a) | 31 | ||||||
724 | NanoString Technologies, Inc. (a) | 11 | ||||||
1,775 | NeoGenomics, Inc. (a) | 22 | ||||||
22,596 | Pacific Biosciences of California, Inc. (a) | 167 | ||||||
9,290 | Qiagen N.V. (a) | 321 | ||||||
231 | Quanterix Corp. (a) | 4 | ||||||
1,710 | Syneos Health, Inc. (a) | 67 | ||||||
|
| |||||||
730 | ||||||||
|
| |||||||
Machinery — 3.72% |
| |||||||
14,852 | Actuant Corp., Class – A | 312 | ||||||
262 | Alamo Group, Inc. | 20 | ||||||
4,601 | Albany International Corp., Class – A | 287 | ||||||
1,656 | Altra Holdings, Inc. | 42 | ||||||
618 | Astec Industries, Inc. | 19 | ||||||
1,322 | Barnes Group, Inc. | 71 | ||||||
428 | Blue Bird Corp. (a) | 8 | ||||||
1,156 | Briggs & Stratton Corp. | 15 | ||||||
10,006 | Chart Industries, Inc. (a) | 650 | ||||||
457 | CIRCOR International, Inc. (a) | 10 | ||||||
596 | Columbus McKinnon Corp. | 18 | ||||||
750 | Commercial Vehicle Group, Inc. (a) | 4 | ||||||
385 | DMC Global, Inc. | 14 | ||||||
600 | Douglas Dynamics, Inc. | 22 | ||||||
169 | Eastern Co. (The) | 4 | ||||||
1,039 | Energy Recovery, Inc. (a) | 7 | ||||||
560 | ENPRO Industries, Inc. | 34 | ||||||
701 | ESCO Technologies, Inc. | 46 | ||||||
2,058 | Evoqua Water Technologies Co. (a) | 20 | ||||||
1,607 | Federal Signal Corp. | 32 | ||||||
1,261 | Franklin Electric Co., Inc. | 54 | ||||||
344 | Freightcar America, Inc. (a) | 2 | ||||||
268 | Gencor Industries, Inc. (a) | 3 | ||||||
601 | Global Brass & Copper Holdings, Inc. | 15 | ||||||
283 | Graham Corp. | 6 | ||||||
2,225 | Harsco Corp. (a) | 44 | ||||||
1,717 | Hillenbrand, Inc. | 65 | ||||||
180 | Hurco Companies, Inc. | 6 | ||||||
286 | Hyster-Yale Materials Handling, Inc., Class – A | 18 | ||||||
862 | John Bean Technologies Corp. | 62 | ||||||
296 | Kadant, Inc. | 24 | ||||||
2,246 | Kennametal, Inc. | 75 | ||||||
33,575 | Kornit Digital Ltd. (a) | 628 | ||||||
248 | L.B. Foster Co., Class – A (a) | 4 | ||||||
289 | Lindsay Corp. | 28 | ||||||
462 | Lydall, Inc. (a) | 9 | ||||||
350 | Manitex International, Inc. (a) | 2 | ||||||
954 | Manitowoc Co., Inc. (a) | 14 | ||||||
25,136 | Meritor, Inc. (a) | 425 | ||||||
1,874 | Milacron Holdings Corp. (a) | 22 | ||||||
283 | Miller Industries, Inc. | 8 | ||||||
1,550 | Mueller Industries, Inc. | 36 | ||||||
4,341 | Mueller Water Products, Inc., Class – A | 40 | ||||||
1,336 | Navistar International Corp. (a) | 35 |
See accompanying notes to financial statements.
62
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Machinery (continued) |
| |||||||
1,148 | NN, Inc. | $ | 8 | |||||
80 | Omega Flex, Inc. | 4 | ||||||
251 | Park-Ohio Holdings Corp. | 8 | ||||||
4,275 | Proto Labs, Inc. (a) | 481 | ||||||
658 | RBC Bearings, Inc. (a) | 86 | ||||||
18,809 | REV Group, Inc. | 141 | ||||||
2,885 | Rexnord Corp. (a) | 66 | ||||||
962 | Spartan Motors, Inc. | 7 | ||||||
1,164 | SPX Corp. (a) | 33 | ||||||
1,140 | SPX FLOW, Inc. (a) | 35 | ||||||
344 | Standex International Corp. | 23 | ||||||
773 | Sun Hydraulics Corp. | 26 | ||||||
482 | Tennant Co. | 25 | ||||||
4,460 | Terex Corp. | 123 | ||||||
488 | The Gorman-Rupp Co. | 16 | ||||||
861 | The Greenbrier Companies, Inc. | 34 | ||||||
1,378 | Titan International, Inc. | 6 | ||||||
11,229 | TriMas Corp. (a) | 306 | ||||||
254 | Twin Disc, Inc. (a) | 4 | ||||||
1,542 | Wabash National Corp. | 20 | ||||||
1,300 | WABCO Holdings, Inc. (a) | 140 | ||||||
774 | Watts Water Technologies, Inc., Class – A | 50 | ||||||
1,474 | Woodward, Inc. | 110 | ||||||
|
| |||||||
5,012 | ||||||||
|
| |||||||
Marine — 0.23% |
| |||||||
1,408 | Costamare, Inc. | 6 | ||||||
1,490 | Eagle Bulk Shipping, Inc. (a) | 7 | ||||||
232 | Genco Shipping & Trading Ltd. (a) | 2 | ||||||
3,641 | Kirby Corp. (a) | 245 | ||||||
1,189 | Matson, Inc. | 38 | ||||||
1,494 | Safe Bulkers, Inc. (a) | 3 | ||||||
1,706 | Scorpio Bulkers, Inc. | 9 | ||||||
|
| |||||||
310 | ||||||||
|
| |||||||
Media — 0.63% |
| |||||||
96 | Beasley Broadcast Group, Inc. | — | ||||||
133 | Boston Omaha Corp. (a) | 3 | ||||||
15,198 | Cardlytics, Inc. (a) | 164 | ||||||
2,351 | Central Eurpoean Media Enterprises Ltd. (a) | 7 | ||||||
1,102 | Clear Channel Outdoor Holdings, Inc. | 6 | ||||||
33 | Daily Journal Corp. (a) | 8 | ||||||
666 | Emerald Expositions Events, Inc. | 8 | ||||||
3,460 | Entercom Communications Corp. | 20 | ||||||
1,917 | Entravision Communications Corp., Class – A | 6 | ||||||
733 | Fluent, Inc. (a) | 3 | ||||||
3,112 | Gannett Company, Inc. | 27 | ||||||
2,159 | Gray Television, Inc. (a) | 32 | ||||||
545 | Hemisphere Media Group, Inc. (a) | 7 | ||||||
1,209 | Liberty Lilac Group, Class – A (a) | 18 | ||||||
3,089 | Liberty Lilac Group, Class – C (a) | 44 | ||||||
355 | Loral Space & Communications, Inc. (a) | 13 | ||||||
1,615 | MDC Partners, Inc., Class – A (a) | 4 | ||||||
1,082 | Meredith Corp. | 56 | ||||||
1,651 | MSG Networks, Inc., Class – A (a) | 39 | ||||||
2,078 | National CineMedia, Inc. | 13 |
Shares | Security Description | Value (000) | ||||||
Media (continued) |
| |||||||
1,606 | New Media Investment Group, Inc. | $ | 19 | |||||
1,233 | Nexstar Broadcasting Group, Inc., Class – A | 96 | ||||||
115 | Saga Communications, Inc. | 4 | ||||||
780 | Scholastic Corp. | 31 | ||||||
1,856 | Sinclair Broadcast Group, Inc., Class – A | 49 | ||||||
549 | TechTarget (a) | 7 | ||||||
5,974 | TEGNA, Inc. | 65 | ||||||
1,278 | The E.W. Scripps Co., Class – A | 20 | ||||||
3,617 | The New York Times Co., Class – A | 80 | ||||||
469 | Tribune Publishing Co. (a) | 5 | ||||||
796 | Wideopenwest, Inc. (a) | 6 | ||||||
|
| |||||||
860 | ||||||||
|
| |||||||
Metals & Mining — 2.33% |
| |||||||
7,531 | Agnico-Eagle Mines Ltd. | 304 | ||||||
8,623 | AK Steel Holding Corp. (a) | 19 | ||||||
47,452 | Allegheny Technologies, Inc. (a) | 1,034 | ||||||
3,674 | Carpenter Technology Corp. | 131 | ||||||
1,379 | Century Aluminum Co. (a) | 10 | ||||||
8,189 | Cleveland- Cliffs, Inc. (a) | 63 | ||||||
19,962 | Coeur d’Alene Mines Corp. (a) | 89 | ||||||
3,208 | Commercial Metals Co. | 51 | ||||||
3,774 | Compass Minerals International, Inc. | 158 | ||||||
66,945 | Ferroglobe PLC | 106 | ||||||
61,874 | Ferroglobe R&W Insurance Trust Co. | — | ||||||
1,540 | Gold Resource Corp. | 6 | ||||||
350 | Haynes International, Inc. | 9 | ||||||
12,316 | Hecla Mining Co. | 29 | ||||||
452 | Kaiser Aluminum Corp. | 40 | ||||||
544 | Materion Corp. | 24 | ||||||
273 | Olympic Steel, Inc. | 4 | ||||||
203 | Ramaco Resources, Inc. (a) | 1 | ||||||
486 | Ryerson Holding Corp. (a) | 3 | ||||||
711 | Schnitzer Steel Industries, Inc., Class – A | 15 | ||||||
1,756 | SunCoke Energy, Inc. (a) | 15 | ||||||
200 | Synalloy Corp. | 3 | ||||||
256,357 | Tahoe Resources, Inc. (a) | 937 | ||||||
1,096 | Timkensteel Corp. (a) | 10 | ||||||
229 | Universal Stainless & Alloy Products, Inc. (a) | 4 | ||||||
1,169 | Warrior Met Coal, Inc. | 28 | ||||||
1,140 | Worthington Industries, Inc. | 40 | ||||||
|
| |||||||
3,133 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts — 0.44% |
| |||||||
788 | AG Mortgage Investment Trust, Inc. | 13 | ||||||
2,765 | Anworth Mortgage Asset Corp. | 11 | ||||||
3,399 | Apollo Commercial Real Estate Finance, Inc. | 56 | ||||||
1,759 | Arbor Realty Trust, Inc. | 18 | ||||||
777 | Ares Commercial Real Estate Corp. | 10 | ||||||
1,156 | ARMOUR Residential REIT, Inc. | 24 | ||||||
3,075 | Blackstone Mortgage Trust, Inc. | 97 | ||||||
2,477 | Capstead Mortgage Corp. | 17 | ||||||
433 | Cherry Hill Mortgage Investment Corp. | 8 | ||||||
2,270 | Colony Credit Real Estate, Inc. | 36 | ||||||
1,516 | Dynex Capital, Inc. | 9 | ||||||
877 | Exantas Capital Corp. | 9 | ||||||
1,193 | Granite Point Mortgage Trust, Inc. | 22 |
See accompanying notes to financial statements.
63
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Mortgage Real Estate Investment Trusts (continued) |
| |||||||
464 | Great Ajax Corp. | $ | 6 | |||||
1,440 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 27 | ||||||
3,087 | Invesco Mortgage Capital, Inc. | 44 | ||||||
588 | KKR Real Estate Finance Trust, Inc. | 11 | ||||||
2,530 | Ladder Capital Corp. | 39 | ||||||
4,257 | New York Mortgage Trust, Inc. | 25 | ||||||
1,458 | Orchid Island Capital, Inc. | 9 | ||||||
1,678 | Pennymac Mortgage Investment Trust | 31 | ||||||
506 | Ready Capital Corp. | 7 | ||||||
2,228 | Redwood Trust, Inc. | 34 | ||||||
990 | TPG RE Finance Trust, Inc. | 18 | ||||||
1,164 | Western Asset Mortgage Capital Corp. | 10 | ||||||
|
| |||||||
591 | ||||||||
|
| |||||||
Multiline Retail — 0.11% |
| |||||||
1,092 | Big Lots, Inc. | 32 | ||||||
316 | Dillard’s, Inc., Class – A | 19 | ||||||
8,582 | J.C. Penney Co., Inc.^ (a) | 9 | ||||||
1,365 | Ollie’s Bargain Outlet Holdings, Inc. (a) | 90 | ||||||
|
| |||||||
150 | ||||||||
|
| |||||||
Multi-Utilities — 0.20% |
| |||||||
1,807 | Avista Corp. | 77 | ||||||
1,476 | Black Hills Corp. | 92 | ||||||
1,392 | NorthWestern Corp. | 83 | ||||||
406 | Unitil Corp. | 21 | ||||||
|
| |||||||
273 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels — 2.46% |
| |||||||
4,355 | Abraxas Petroleum Corp. (a) | 5 | ||||||
43 | Adams Resources & Energy, Inc. | 2 | ||||||
2,922 | Alta Mesa Resources, Inc. (a) | 3 | ||||||
923 | Amyris, Inc. (a) | 3 | ||||||
1,344 | Approach Resources, Inc. (a) | 1 | ||||||
480 | Arch Coal, Inc. | 40 | ||||||
946 | Ardmore Shipping Corp. (a) | 4 | ||||||
350 | Berry Petroleum Corp. | 3 | ||||||
523 | Bonanza Creek Energy, Inc. (a) | 11 | ||||||
1,220 | California Resources Corp. (a) | 21 | ||||||
6,289 | Callon Petroleum Co. (a) | 41 | ||||||
10,307 | Carrizo Oil & Gas, Inc. (a) | 116 | ||||||
29,083 | Centennial Resource Development, Inc. (a) | 320 | ||||||
3,886 | Clean Energy Fuels Corp. (a) | 7 | ||||||
2,180 | Cloud Peak Energy, Inc. (a) | 1 | ||||||
777 | CONSOL Energy, Inc. (a) | 25 | ||||||
500 | CVR Energy, Inc. | 17 | ||||||
2,238 | Delek US Holdings, Inc. | 73 | ||||||
12,668 | Denbury Resources, Inc. (a) | 22 | ||||||
2,448 | DHT Holdings, Inc. | 10 | ||||||
736 | Dorian LPG Ltd. (a) | 4 | ||||||
551 | Earthstone Energy, Inc. (a) | 2 | ||||||
2,722 | Eclipse Resources Corp. (a) | 3 | ||||||
2,250 | Energy Fuels, Inc. (a) | 6 | ||||||
1,061 | EP Energy Corp. (a) | 1 | ||||||
39,174 | Euronav N.V. | 271 | ||||||
750 | Evolution Petroleum Corp. | 5 |
Shares | Security Description | Value (000) | ||||||
Oil, Gas & Consumable Fuels (continued) |
| |||||||
2,129 | Frontline Ltd./Bermuda^ (a) | $ | 12 | |||||
24,586 | GasLog Ltd. | 404 | ||||||
10,520 | Golar LNG Ltd. | 229 | ||||||
199 | Goodrich Petroleum Corp. (a) | 3 | ||||||
1,077 | Green Plains, Inc. | 14 | ||||||
4,901 | Gulfport Energy Corp. (a) | 32 | ||||||
3,805 | Halcon Resources Corp. (a) | 6 | ||||||
509 | Hallador Energy Co. | 3 | ||||||
2,937 | Highpoint Resources Corp. (a) | 7 | ||||||
593 | International Seaways, Inc. (a) | 10 | ||||||
16 | Isramco, Inc. (a) | 2 | ||||||
8,454 | Jagged Peak Energy, Inc. (a) | 77 | ||||||
4,203 | Laredo Petroleum, Inc. (a) | 15 | ||||||
1,284 | Lilis Energy, Inc. (a) | 2 | ||||||
12,963 | Matador Resources Co. (a) | 201 | ||||||
339 | Midstates Petroleum Co., Inc. (a) | 3 | ||||||
6,192 | Murphy Oil Corp. | 145 | ||||||
124 | NACCO Industries, Inc., Class – A | 4 | ||||||
21,709 | Navigator Holdings Ltd. (a) | 204 | ||||||
201 | Nextdecade Corp. (a) | 1 | ||||||
4,047 | Nordic American Tankers Limited | 8 | ||||||
5,232 | Northern Oil & Gas, Inc. (a) | 12 | ||||||
7,321 | Oasis Petroleum, Inc. (a) | 40 | ||||||
1,378 | Overseas Shipholding Group, Inc. (a) | 2 | ||||||
455 | Panhandle Oil & Gas, Inc., Class – A | 7 | ||||||
879 | Par Petroleum Corp. (a) | 12 | ||||||
8,567 | PDC Energy, Inc. (a) | 255 | ||||||
2,180 | Peabody Energy Corp. | 66 | ||||||
337 | Penn Virginia Corp. (a) | 18 | ||||||
1,030 | Renewable Energy Group, Inc. (a) | 26 | ||||||
600 | Resolute Energy Corp. (a) | 17 | ||||||
166 | REX American Resources Corp. (a) | 11 | ||||||
1,544 | Ring Energy, Inc. (a) | 8 | ||||||
2,117 | Sanchez Energy Corp.^ (a) | 1 | ||||||
834 | SandRidge Energy, Inc. (a) | 6 | ||||||
12,442 | Scorpio Tankers, Inc. | 22 | ||||||
2,182 | Semgroup Corp., Class – A | 30 | ||||||
2,238 | Ship Finance International Ltd. | 24 | ||||||
206 | Silverbow Resources, Inc. (a) | 5 | ||||||
10,588 | SM Energy Co. | 164 | ||||||
16,259 | Southwestern Energy Co. (a) | 55 | ||||||
6,574 | SRC Energy, Inc. (a) | 31 | ||||||
540 | Talos Energy, Inc. (a) | 9 | ||||||
1,936 | Teekay Shipping Corp. | 6 | ||||||
5,985 | Teekay Tankers Ltd. | 6 | ||||||
2,391 | Tellurian, Inc.^ (a) | 17 | ||||||
4,336 | Ultra Petroleum Corp. (a) | 3 | ||||||
4,044 | Uranium Energy Corp. (a) | 5 | ||||||
2,594 | W&T Offshore, Inc. (a) | 11 | ||||||
763 | Wildhorse Resource Development Corp. (a) | 11 | ||||||
1,855 | World Fuel Services Corp. | 40 | ||||||
1,289 | Zion Oil & Gas, Inc. (a) | 1 | ||||||
|
| |||||||
3,320 | ||||||||
|
| |||||||
Paper & Forest Products — 0.15% |
| |||||||
1,051 | Boise Cascade Co. | 25 | ||||||
455 | Clearwater Paper Corp. (a) | 11 |
See accompanying notes to financial statements.
64
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Paper & Forest Products (continued) |
| |||||||
3,899 | Louisiana-Pacific Corp. | $ | 86 | |||||
460 | Neenah Paper, Inc. | 27 | ||||||
1,204 | P.H. Glatfelter Co. | 12 | ||||||
831 | Schweitzer-Mauduit International, Inc. | 21 | ||||||
930 | Verso Corp. (a) | 21 | ||||||
|
| |||||||
203 | ||||||||
|
| |||||||
Personal Products — 0.14% |
| |||||||
580 | e.l.f. Beauty, Inc. (a) | 5 | ||||||
1,485 | Edgewell Personal Care Co. (a) | 55 | ||||||
478 | Inter Parfums, Inc. | 31 | ||||||
322 | Medifast, Inc. | 40 | ||||||
224 | Natural Health Trends Corp. | 4 | ||||||
338 | Nature’s Sunshine Products, Inc. (a) | 3 | ||||||
222 | Revlon, Inc., Class – A (a) | 6 | ||||||
356 | USANA Health Sciences, Inc. (a) | 42 | ||||||
|
| |||||||
186 | ||||||||
|
| |||||||
Pharmaceuticals — 1.27% |
| |||||||
966 | Aclaris Therapeutics, Inc. (a) | 7 | ||||||
966 | Aerie Pharmaceuticals, Inc. (a) | 35 | ||||||
347 | Akcea Therapeutics, Inc. (a) | 10 | ||||||
2,523 | Akorn, Inc. (a) | 9 | ||||||
12,200 | Amneal Pharmaceuticals, Inc. (a) | 164 | ||||||
1,004 | Amphastar Pharmaceuticals, Inc. (a) | 20 | ||||||
1,875 | Ampio Pharmaceuticals, Inc.^ (a) | 1 | ||||||
222 | ANI Pharmaceuticals, Inc. (a) | 10 | ||||||
143 | Aquestive Therapeutics, Inc. (a) | 1 | ||||||
1,225 | Aratana Therapeutics, Inc. (a) | 8 | ||||||
569 | Assembly Biosciences, Inc. (a) | 13 | ||||||
1,637 | Assertio Therapeutics, Inc. (a) | 6 | ||||||
720 | Clearside Biomedical, Inc. (a) | 1 | ||||||
791 | Collegium Pharmaceutical, Inc. (a) | 14 | ||||||
2,636 | Corcept Therapeutics, Inc. (a) | 35 | ||||||
1,601 | Cymabay Therapeutics, Inc. (a) | 13 | ||||||
956 | Dermira, Inc. (a) | 7 | ||||||
315 | Dova Pharmaceuticals, Inc. (a) | 2 | ||||||
4,132 | Durect Corp. (a) | 2 | ||||||
654 | Eloxx Pharmaceuticals, Inc. (a) | 8 | ||||||
6,158 | ENDO International PLC (a) | 45 | ||||||
249 | Evolus, Inc. (a) | 3 | ||||||
14,960 | Horizon Pharma PLC (a) | 291 | ||||||
498 | Innovate Biopharmaceuticals, Inc. (a) | 1 | ||||||
1,874 | Innoviva, Inc. (a) | 33 | ||||||
853 | Intersect ENT, Inc. (a) | 24 | ||||||
1,217 | Intra-Cellular Therapies, Inc. (a) | 14 | ||||||
317 | Kala Pharmaceuticals, Inc. (a) | 2 | ||||||
806 | Lannett Co., Inc. (a) | 4 | ||||||
153 | Liquidia Technologies, Inc. (a) | 3 | ||||||
2,266 | Mallinckrodt PLC (a) | 36 | ||||||
903 | Marinus Pharmaceuticals, Inc. (a) | 3 | ||||||
949 | Melinta Therapeutics, Inc. (a) | 1 | ||||||
366 | Menlo Therapeutics, Inc. (a) | 2 | ||||||
2,787 | Myokardia, Inc. (a) | 136 | ||||||
3,444 | Nektar Therapeutics (a) | 113 | ||||||
733 | Neos Therapeutics, Inc. (a) | 1 |
Shares | Security Description | Value (000) | ||||||
Pharmaceuticals (continued) |
| |||||||
861 | Ocular Therapeutix, Inc. (a) | $ | 3 | |||||
178 | Odonate Therapeutics, Inc. (a) | 3 | ||||||
1,258 | Omeros Corp. (a) | 14 | ||||||
576 | Optinose, Inc. (a) | 4 | ||||||
6,490 | Pacira Pharmaceuticals, Inc. (a) | 278 | ||||||
895 | Paratek Pharmaceuticals, Inc. (a) | 5 | ||||||
539 | Phibro Animal Health Corp., Class – A | 17 | ||||||
1,413 | Prestige Brands Holdings, Inc. (a) | 44 | ||||||
506 | Reata Pharmaceuticals, Inc., Class – A (a) | 28 | ||||||
260 | resTORbio, Inc. (a) | 2 | ||||||
884 | Revance Therapeutics, Inc. (a) | 18 | ||||||
245 | scPharmaceuticals, Inc. (a) | 1 | ||||||
439 | Sienna Biopharmaceuticals, Inc. (a) | 1 | ||||||
1,363 | SIGA Technologies, Inc. (a) | 11 | ||||||
1,351 | Supernus Pharmaceuticals, Inc. (a) | 45 | ||||||
1,283 | Teligent, Inc. (a) | 2 | ||||||
1,552 | Tetraphase Pharmaceuticals, Inc. (a) | 2 | ||||||
1,869 | The Medicines Co. (a) | 36 | ||||||
5,098 | TherapeuticsMD, Inc. (a) | 19 | ||||||
1,171 | Theravance Biopharma, Inc. (a) | 30 | ||||||
311 | Tricida, Inc. (a) | 7 | ||||||
159 | Verrica Pharmaceuticals, Inc. (a) | 1 | ||||||
473 | Wave Life Sciences Ltd. (a) | 20 | ||||||
176 | Xeris Pharmaceuticals, Inc. (a) | 3 | ||||||
1,140 | Zogenix, Inc. (a) | 42 | ||||||
846 | Zomedica Pharmaceuticals Corp. (a) | 1 | ||||||
|
| |||||||
1,715 | ||||||||
|
| |||||||
Professional Services — 0.80% |
| |||||||
1,484 | Acacia Research Corp. (a) | 4 | ||||||
1,398 | ASGN, Inc. (a) | 76 | ||||||
199 | Barrett Business Services, Inc. | 11 | ||||||
212 | BG Staffing, Inc. | 4 | ||||||
1,417 | CBIZ, Inc. (a) | 28 | ||||||
224 | CRA International, Inc. | 10 | ||||||
1,421 | Exponent, Inc. | 72 | ||||||
282 | Forrester Research, Inc. | 13 | ||||||
284 | Franklin Covey Co. (a) | 6 | ||||||
1,049 | FTI Consulting, Inc. (a) | 70 | ||||||
366 | GP Strategies Corp. (a) | 5 | ||||||
504 | Heidrick & Struggles International, Inc. | 16 | ||||||
606 | Huron Consulting Group, Inc. (a) | 31 | ||||||
489 | ICF International, Inc. | 32 | ||||||
1,305 | InnerWorkings, Inc. (a) | 5 | ||||||
1,053 | Insperity, Inc. | 98 | ||||||
846 | Kelly Services, Inc., Class – A | 17 | ||||||
626 | Kforce, Inc. | 19 | ||||||
5,855 | Korn Ferry International | 233 | ||||||
493 | Mistras Group, Inc. (a) | 7 | ||||||
7,910 | Navigant Consulting, Inc. | 190 | ||||||
857 | Resources Connections, Inc. | 12 | ||||||
1,201 | TriNet Group, Inc. (a) | 50 | ||||||
1,131 | TrueBlue, Inc. (a) | 25 | ||||||
172 | Upwork, Inc. (a) | 3 | ||||||
1,088 | WageWorks, Inc. (a) | 30 | ||||||
227 | Willdan Group, Inc. (a) | 8 | ||||||
|
| |||||||
1,075 | ||||||||
|
|
See accompanying notes to financial statements.
65
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Real Estate Management & Development — 0.30% |
| |||||||
271 | Altisource Portfolio Solutions SA (a) | $ | 6 | |||||
75 | American Realty Investors, Inc. (a) | 1 | ||||||
115 | Consolidated-Tomoka Land Co. | 6 | ||||||
1,295 | Cushman & Wakefield PLC (a) | 19 | ||||||
948 | Essential Properties Realty Trust, Inc. | 13 | ||||||
291 | Forestar Group, Inc. (a) | 4 | ||||||
186 | FRP Holdings, Inc. (a) | 9 | ||||||
31 | Griffin Industrial Realty, Inc. | 1 | ||||||
1,015 | HFF, Inc., Class – A | 34 | ||||||
3,452 | Kennedy-Wilson Holdings, Inc. | 63 | ||||||
524 | Marcus & Millichap, Inc. (a) | 18 | ||||||
148 | Maui Land & Pineapple Co., Inc. (a) | 1 | ||||||
4,211 | Newmark Group, Inc., Class – A | 34 | ||||||
495 | RE/MAX Holdings, Inc., Class – A | 15 | ||||||
7,950 | Realogy Holdings Corp. | 117 | ||||||
2,147 | Redfin Corp.^ (a) | 31 | ||||||
960 | St. Joe Corp. (a) | 13 | ||||||
177 | Stratus Properties, Inc. (a) | 4 | ||||||
568 | Tejon Ranch Co. (a) | 9 | ||||||
194 | The RMR Group, Inc., Class – A | 10 | ||||||
34 | Transcontinental Realty Investors, Inc. (a) | 1 | ||||||
565 | Trinity Place Holdings, Inc. (a) | 2 | ||||||
|
| |||||||
411 | ||||||||
|
| |||||||
Road & Rail — 0.65% |
| |||||||
711 | ArcBest Corp. | 24 | ||||||
10,385 | Avis Budget Group, Inc. (a) | 234 | ||||||
328 | Covenant Transportation Group, Inc., Class – A (a) | 6 | ||||||
1,105 | Daseke, Inc. (a) | 4 | ||||||
1,308 | Heartland Express, Inc. | 24 | ||||||
1,514 | Hertz Global Holdings, Inc. (a) | 21 | ||||||
9,136 | Knight-Swift Transportation Holdings, Inc. | 229 | ||||||
1,078 | Marten Transport Ltd. | 17 | ||||||
49 | P.A.M. Transportation Services, Inc. (a) | 2 | ||||||
4,721 | Ryder System, Inc. | 227 | ||||||
693 | Saia, Inc. (a) | 39 | ||||||
245 | Universal Truckload Services, Inc. | 4 | ||||||
558 | US Xpress Enterprise, Inc., Class – A (a) | 3 | ||||||
191 | USA Truck, Inc. (a) | 3 | ||||||
1,293 | Werner Enterprises, Inc. | 38 | ||||||
826 | YRC Worldwide, Inc. (a) | 3 | ||||||
|
| |||||||
878 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment — 5.40% |
| |||||||
184 | ACM Research, Inc., Class – A (a) | 2 | ||||||
742 | Adesto Technologies Corp. (a) | 3 | ||||||
1,053 | Advanced Energy Industries, Inc. (a) | 45 | ||||||
6,340 | Advanced Micro Devices, Inc. (a) | 117 | ||||||
580 | Alpha & Omega Semiconductor Ltd. (a) | 6 | ||||||
851 | Ambarella, Inc. (a) | 30 | ||||||
2,826 | Amkor Technology, Inc. (a) | 19 | ||||||
556 | Aquantia Corp. (a) | 5 | ||||||
847 | Axcelis Technologies, Inc. (a) | 15 | ||||||
1,088 | AXT, Inc. (a) | 5 | ||||||
1,888 | Brooks Automation, Inc. | 49 |
Shares | Security Description | Value (000) | ||||||
Semiconductors & Semiconductor Equipment (continued) |
| |||||||
780 | Cabot Microelectronics Corp. | $ | 74 | |||||
605 | CEVA, Inc. (a) | 13 | ||||||
1,650 | Cirrus Logic, Inc. (a) | 55 | ||||||
1,088 | Cohu, Inc. | 17 | ||||||
10,141 | Cree, Inc. (a) | 434 | ||||||
15,400 | Cypress Semiconductor Corp. | 196 | ||||||
1,116 | Diodes, Inc. (a) | 36 | ||||||
3,903 | Entegris, Inc. | 109 | ||||||
18,681 | FormFactor, Inc. (a) | 263 | ||||||
680 | Ichor Holdings Ltd. (a) | 11 | ||||||
444 | Impinj, Inc. (a) | 6 | ||||||
8,675 | Inphi Corp. (a) | 279 | ||||||
15,169 | Integrated Device Technology, Inc. (a) | 735 | ||||||
1,829 | Kopin Corp. (a) | 2 | ||||||
3,182 | Lattice Semiconductor Corp. (a) | 22 | ||||||
26,639 | MA-COM Technology Solutions Holdings, Inc. (a) | 387 | ||||||
4,294 | Marvell Technology Group Ltd. | 69 | ||||||
6,210 | Maxim Integrated Products, Inc. | 316 | ||||||
1,703 | MaxLinear, Inc., Class – A (a) | 30 | ||||||
6,413 | Monolithic Power Systems, Inc. | 746 | ||||||
635 | Nanometrics, Inc. (a) | 17 | ||||||
972 | Neophotonics Corp. (a) | 6 | ||||||
134 | NVE Corp. | 12 | ||||||
807 | PDF Solutions, Inc. (a) | 7 | ||||||
1,887 | Photronics, Inc. (a) | 18 | ||||||
801 | Power Integrations, Inc. | 49 | ||||||
11,931 | Qorvo, Inc. (a) | 725 | ||||||
84,842 | QuickLogic Corp. (a) | 62 | ||||||
2,869 | Rambus, Inc. (a) | 22 | ||||||
852 | Rudolph Technologies, Inc. (a) | 17 | ||||||
20,630 | Semtech Corp. (a) | 946 | ||||||
3,332 | Silicon Laboratories, Inc. (a) | 263 | ||||||
5,449 | Skyworks Solutions, Inc. | 365 | ||||||
263 | SMART Global Holdings, Inc. (a) | 8 | ||||||
1,653 | SunPower Corp. (a) | 8 | ||||||
951 | Synaptics, Inc. (a) | 35 | ||||||
1,054 | Ultra Clean Holdings, Inc. (a) | 9 | ||||||
4,572 | Universal Display Corp. | 428 | ||||||
19,863 | Veeco Instruments, Inc. (a) | 147 | ||||||
1,354 | Xperi Corp. | 25 | ||||||
|
| |||||||
7,265 | ||||||||
|
| |||||||
Software — 7.73% |
| |||||||
6,509 | 2U, Inc. (a) | 324 | ||||||
2,546 | 8x8, Inc. (a) | 46 | ||||||
1,467 | A10 Networks, Inc. (a) | 9 | ||||||
3,164 | ACI Worldwide, Inc. (a) | 88 | ||||||
458 | Agilysys, Inc. (a) | 7 | ||||||
8,961 | Alarm.com Holding, Inc. (a) | 465 | ||||||
685 | Altair Engineering, Inc., Class – A (a) | 19 | ||||||
812 | Alteryx, Inc. (a) | 48 | ||||||
603 | Amber Road, Inc. (a) | 5 | ||||||
789 | American Software, Inc., Class – A | 8 | ||||||
245 | Anaplan, Inc. (a) | 7 | ||||||
423 | AppFolio, Inc., Class – A (a) | 25 |
See accompanying notes to financial statements.
66
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Software (continued) |
| |||||||
960 | Apptio, Inc. (a) | $ | 36 | |||||
369 | Asure Software, Inc. (a) | 2 | ||||||
231 | Avalara, Inc. (a) | 7 | ||||||
2,886 | Avaya Holdings Corp. (a) | 42 | ||||||
11,938 | Benefitfocus, Inc. (a) | 546 | ||||||
1,329 | Blackbaud, Inc. | 84 | ||||||
18,733 | Blackline, Inc. (a) | 766 | ||||||
4,181 | Bottomline Technologies, Inc. (a) | 201 | ||||||
3,442 | Box, Inc., Class – A (a) | 58 | ||||||
1,038 | Carbon Black, Inc. (a) | 14 | ||||||
643 | ChannelAdvisor Corp. (a) | 7 | ||||||
1,830 | Cision Ltd. (a) | 21 | ||||||
13,555 | Cloudera, Inc. (a) | 150 | ||||||
1,083 | CommVault Systems, Inc. (a) | 64 | ||||||
1,498 | Cornerstone OnDemand, Inc. (a) | 76 | ||||||
11,319 | Coupa Software, Inc. (a) | 712 | ||||||
290 | Digimarc Corp. (a) | 4 | ||||||
214 | Domo, Inc. (a) | 4 | ||||||
651 | Ebix, Inc. | 28 | ||||||
436 | eGain Corp. (a) | 3 | ||||||
5,421 | Ellie Mae, Inc. (a) | 341 | ||||||
1,217 | Envestnet, Inc. (a) | 60 | ||||||
725 | Everbridge, Inc. (a) | 41 | ||||||
1,563 | Five9, Inc. (a) | 68 | ||||||
840 | Forescout Technologies, Inc. (a) | 22 | ||||||
452 | Fusion Connect, Inc. (a) | 1 | ||||||
1,959 | Hortonworks, Inc. (a) | 28 | ||||||
7,033 | HubSpot, Inc. (a) | 883 | ||||||
968 | Imperva, Inc. (a) | 54 | ||||||
887 | Instructure, Inc. (a) | 33 | ||||||
1,290 | J2 Global, Inc. | 90 | ||||||
1,611 | LivePerson, Inc. (a) | 30 | ||||||
196 | Majesco (a) | 1 | ||||||
262 | MicroStrategy, Inc., Class – A (a) | 33 | ||||||
1,208 | MINDBODY, Inc., Class – A (a) | 44 | ||||||
946 | Mitek Systems, Inc. (a) | 10 | ||||||
1,912 | MobileIron, Inc. (a) | 9 | ||||||
7,391 | Model N, Inc. (a) | 98 | ||||||
1,150 | Monotype Imaging Holdings, Inc. | 18 | ||||||
11,877 | New Relic, Inc. (a) | 961 | ||||||
28,162 | Nuance Communications, Inc. (a) | 373 | ||||||
2,680 | Nutanix, Inc., Class – A (a) | 111 | ||||||
851 | Onespan, Inc. (a) | 11 | ||||||
411 | Park City Group, Inc. (a) | 2 | ||||||
8,052 | Paylocity Holding Corp. (a) | 485 | ||||||
1,250 | Progress Software Corp. | 44 | ||||||
843 | PROS Holdings, Inc. (a) | 26 | ||||||
1,009 | Q2 Holdings, Inc. (a) | 50 | ||||||
2,286 | QAD, Inc., Class – A | 90 | ||||||
937 | Qualys, Inc. (a) | 70 | ||||||
1,015 | Rapid7, Inc. (a) | 32 | ||||||
198 | Rimini Street, Inc. (a) | 1 | ||||||
5,672 | RingCentral, Inc., Class – A (a) | 468 | ||||||
1,907 | Sailpoint Technologies Holding, Inc. (a) | 45 |
Shares | Security Description | Value (000) | ||||||
Software (continued) |
| |||||||
197 | Secureworks Corp. (a) | $ | 3 | |||||
805 | Sendgrid, Inc. (a) | 35 | ||||||
190 | ShotSpotter, Inc. (a) | 6 | ||||||
462 | SPS Commerce, Inc. (a) | 38 | ||||||
4,092 | SS&C Technologies Holdings, Inc. | 185 | ||||||
241 | SVMK, Inc. (a) | 3 | ||||||
1,068 | Telaria, Inc. (a) | 3 | ||||||
874 | Telenav, Inc. (a) | 4 | ||||||
335 | Tenable Holdings, Inc. (a) | 7 | ||||||
2,466 | The Trade Desk, Inc. (a) | 286 | ||||||
59,757 | TiVo Corp. | 562 | ||||||
420 | Upland Software, Inc. (a) | 11 | ||||||
766 | Varonis Systems, Inc. (a) | 41 | ||||||
1,757 | Verint Systems, Inc. (a) | 74 | ||||||
171 | Veritone, Inc. (a) | 1 | ||||||
1,521 | VirnetX Holding Corp. (a) | 4 | ||||||
795 | Workiva, Inc. (a) | 29 | ||||||
2,235 | Yext, Inc. (a) | 33 | ||||||
1,594 | Zix Corp. (a) | 9 | ||||||
14,090 | Zscaler, Inc. (a) | 552 | ||||||
|
| |||||||
10,395 | ||||||||
|
| |||||||
Specialty Retail — 1.99% |
| |||||||
1,908 | Aaron’s, Inc. | 80 | ||||||
1,860 | Abercrombie & Fitch Co., Class – A | 37 | ||||||
4,441 | American Eagle Outfitters, Inc. | 87 | ||||||
161 | America’sCar-Mart, Inc. (a) | 12 | ||||||
532 | Asbury Automotive Group, Inc. (a) | 35 | ||||||
4,730 | Ascena Retail Group, Inc. (a) | 12 | ||||||
1,195 | AT Home Group, Inc. (a) | 22 | ||||||
1,127 | Barnes & Noble Education, Inc. (a) | 5 | ||||||
1,724 | Barnes & Noble, Inc. | 12 | ||||||
3,706 | Bed Bath & Beyond, Inc. | 42 | ||||||
493 | Big 5 Sporting Goods Corp. | 1 | ||||||
17,738 | Boot Barn Holdings, Inc. (a) | 303 | ||||||
1,160 | Caleres, Inc. | 32 | ||||||
878 | Camping World Holdings, Inc., Class – A | 10 | ||||||
20,888 | Carvana Co.^ (a) | 684 | ||||||
3,456 | Chico’s FAS, Inc. | 19 | ||||||
377 | Citi Trends, Inc. | 8 | ||||||
521 | Conn’s, Inc. (a) | 10 | ||||||
1,866 | DSW, Inc., Class – A | 46 | ||||||
1,994 | Express, Inc. (a) | 10 | ||||||
1,499 | Five Below, Inc. (a) | 154 | ||||||
1,090 | Francesca’s Holdings Corp. (a) | 1 | ||||||
2,710 | GameStop Corp., Class – A | 34 | ||||||
539 | Genesco, Inc. (a) | 24 | ||||||
2,314 | GNC Holdings, Inc., Class – A (a) | 5 | ||||||
521 | Group 1 Automotive, Inc. | 27 | ||||||
1,584 | Guess?, Inc. | 33 | ||||||
532 | Haverty Furniture Cos., Inc. | 10 | ||||||
541 | Hibbett Sports, Inc. (a) | 8 | ||||||
1,108 | Hudson Ltd., Class A (a) | 19 | ||||||
392 | J. Jill, Inc. (a) | 2 | ||||||
464 | Kirkland’s, Inc. (a) | 4 | ||||||
623 | Lithia Motors, Inc. | 48 |
See accompanying notes to financial statements.
67
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Specialty Retail (continued) |
| |||||||
778 | Lumber Liquidators Holdings, Inc. (a) | $ | 7 | |||||
559 | MarineMax, Inc. (a) | 10 | ||||||
879 | Monro Muffler Brake, Inc. | 60 | ||||||
836 | Murphy USA, Inc. (a) | 64 | ||||||
1,697 | National Vision Holdings, Inc. (a) | 48 | ||||||
14,955 | Office Depot, Inc. | 39 | ||||||
1,528 | Party City Holdco, Inc. (a) | 15 | ||||||
2,334 | Pier 1 Imports, Inc. | 1 | ||||||
1,198 | Rent-A-Center, Inc. (a) | 19 | ||||||
537 | Restoration Hardware Co. (a) | 64 | ||||||
675 | RTW RetailWinds, Inc. (a) | 2 | ||||||
3,311 | Sally Beauty Holdings, Inc. (a) | 56 | ||||||
288 | Shoe Carnival, Inc. | 10 | ||||||
1,427 | Signet Jewelers Ltd. | 45 | ||||||
896 | Sleep Number Corp. (a) | 28 | ||||||
645 | Sonic Automotive, Inc., Class – A | 9 | ||||||
1,082 | Sportsman’s Warehouse Holdings, Inc. (a) | 5 | ||||||
19,250 | Tailored Brands, Inc. | 264 | ||||||
796 | The Buckle, Inc.^ | 15 | ||||||
650 | The Cato Corp. | 9 | ||||||
439 | The Children’s Place Retail Stores, Inc. | 40 | ||||||
492 | The Container Store Group, Inc. (a) | 2 | ||||||
996 | Tile Shop Holdings, Inc. | 5 | ||||||
560 | Tilly’s, Inc., Class – A | 6 | ||||||
72 | Winmark Corp. | 11 | ||||||
522 | Zumiez, Inc. (a) | 10 | ||||||
|
| |||||||
2,680 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals — 0.10% |
| |||||||
3,007 | 3D Systems Corp. (a) | 30 | ||||||
749 | Avid Technology, Inc. (a) | 4 | ||||||
1,093 | Cray, Inc. (a) | 24 | ||||||
2,061 | Diebold, Inc. | 5 | ||||||
374 | Eastman Kodak Co. (a) | 1 | ||||||
1,205 | Electronics for Imaging, Inc. (a) | 30 | ||||||
705 | Immersion Corp. (a) | 6 | ||||||
1,369 | Stratasys Ltd. (a) | 25 | ||||||
1,639 | USA Technologies, Inc. (a) | 6 | ||||||
|
| |||||||
131 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods — 0.55% |
| |||||||
1,839 | Crocs, Inc. (a) | 48 | ||||||
316 | Culp, Inc. | 6 | ||||||
3,190 | Deckers Outdoor Corp. (a) | 409 | ||||||
1,233 | Fossil Group, Inc. (a) | 19 | ||||||
1,216 | G-III Apparel Group Ltd. (a) | 34 | ||||||
425 | Movado Group, Inc. | 13 | ||||||
452 | Oxford Industries, Inc. | 32 | ||||||
167 | Rocky Brands, Inc. | 4 | ||||||
2,411 | Steven Madden Ltd. | 73 | ||||||
250 | Superior Uniform Group, Inc. | 4 | ||||||
426 | Unifi, Inc. (a) | 10 | ||||||
581 | Vera Bradley, Inc. (a) | 5 | ||||||
2,524 | Wolverine World Wide, Inc. | 81 | ||||||
|
| |||||||
738 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Thrifts & Mortgage Finance — 0.98% |
| |||||||
1,656 | Axos Financial, Inc. (a) | $ | 42 | |||||
414 | Bankfinancial Corp. | 6 | ||||||
1,880 | Beneficial BanCorp, Inc. | 27 | ||||||
625 | Bridgewater Bancshares, Inc. (a) | 7 | ||||||
244 | BSB BanCorp, Inc. (a) | 7 | ||||||
3,607 | Capitol Federal Financial, Inc. | 46 | ||||||
1,381 | Columbia Financial, Inc. (a) | 21 | ||||||
876 | Dime Community Bancshares | 15 | ||||||
200 | Entegra Financial Corp. (a) | 4 | ||||||
274 | ESSA Bancorp, Inc. | 4 | ||||||
2,640 | Essent Group Ltd. (a) | 90 | ||||||
243 | Federal Agricultural Mortgage Corp., Class – C | 15 | ||||||
560 | First Defiance Financial Corp. | 14 | ||||||
799 | Flagstar Bancorp, Inc. (a) | 21 | ||||||
118 | FS BanCorp, Inc. | 5 | ||||||
95 | Greene County BanCorp, Inc. | 3 | ||||||
37 | Hingham Institution For SVGS | 7 | ||||||
211 | Home BanCorp, Inc. | 7 | ||||||
678 | HomeStreet, Inc. (a) | 14 | ||||||
221 | Impac Mortgage Holdings, Inc. (a) | 1 | ||||||
2,508 | Kearny Financial Corp. of Maryland | 32 | ||||||
221 | LendingTree, Inc. (a) | 49 | ||||||
614 | Luther Burbank Corp. | 6 | ||||||
195 | Malvern BanCorp, Inc. (a) | 4 | ||||||
423 | Merchants BanCorp/IN | 8 | ||||||
1,299 | Meridian Bancorp, Inc. | 19 | ||||||
756 | Meta Financial Group, Inc. | 15 | ||||||
9,938 | MGIC Investment Corp. (a) | 103 | ||||||
2,015 | Mr Cooper Group, Inc. (a) | 24 | ||||||
1,678 | NMI Holdings, Inc. (a) | 30 | ||||||
1,191 | Northfield BanCorp, Inc. | 16 | ||||||
2,683 | Northwest Bancshares, Inc. | 45 | ||||||
1,279 | OceanFirst Financial Corp. | 29 | ||||||
3,053 | Ocwen Financial Corp. (a) | 4 | ||||||
298 | OP BanCorp (a) | 3 | ||||||
1,094 | Oritani Financial Corp. | 16 | ||||||
451 | PCSB Financial Corp. | 9 | ||||||
209 | PDL Community BanCorp (a) | 3 | ||||||
535 | PennyMac Financial Services, Inc. | 11 | ||||||
139 | Provident BanCorp, Inc. (a) | 3 | ||||||
1,678 | Provident Financial Services, Inc. | 40 | ||||||
248 | Prudential BanCorp, Inc. | 4 | ||||||
5,938 | Radian Group, Inc. | 97 | ||||||
635 | Riverview BanCorp, Inc. | 5 | ||||||
340 | SI Financial Group, Inc. | 4 | ||||||
199 | Southern Missouri BanCorp, Inc. | 7 | ||||||
650 | Sterling BanCorp, Inc./MI | 5 | ||||||
227 | Territorial BanCorp, Inc. | 6 | ||||||
186 | Timberland BanCorp, Inc./WA | 4 | ||||||
2,560 | TrustCo Bank Corp. NY | 18 | ||||||
1,385 | United Community Financial Corp. | 12 | ||||||
1,400 | United Financial Bancorp, Inc. | 21 | ||||||
757 | Walker & Dunlop, Inc. | 33 | ||||||
2,329 | Washington Federal, Inc. | 62 | ||||||
724 | Waterstone Financial, Inc. | 12 |
See accompanying notes to financial statements.
68
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Thrifts & Mortgage Finance (continued) |
| |||||||
804 | Western New England BanCorp, Inc. | $ | 8 | |||||
4,976 | WSFS Financial Corp. | 188 | ||||||
|
| |||||||
1,311 | ||||||||
|
| |||||||
Tobacco — 0.19% |
| |||||||
3,411 | 22nd Century Group, Inc.^ (a) | 8 | ||||||
229 | Pyxus International, Inc.^ (a) | 3 | ||||||
212 | Turning Point Brands, Inc. | 6 | ||||||
4,019 | Universal Corp. | 218 | ||||||
2,799 | Vector Group Ltd. | 27 | ||||||
|
| |||||||
262 | ||||||||
|
| |||||||
Trading Companies & Distributors — 1.45% |
| |||||||
1,514 | Aircastle Ltd. | 26 | ||||||
1,063 | Applied Industrial Technologies, Inc. | 57 | ||||||
12,117 | Beacon Roofing Supply, Inc. (a) | 385 | ||||||
225 | Bluelinx Holdings, Inc. (a) | 6 | ||||||
20,559 | BMC Stock Holdings, Inc. (a) | 318 | ||||||
466 | CAI International, Inc. (a) | 11 | ||||||
7,405 | DXP Enterprises, Inc. (a) | 206 | ||||||
113 | EVI Industries, Inc. | 4 | ||||||
387 | Foundation Building Materials, Inc. (a) | 3 | ||||||
1,039 | GATX Corp. | 74 | ||||||
226 | General Finance Corp. (a) | 2 | ||||||
900 | GMS, Inc. (a) | 13 | ||||||
871 | H&E Equipment Services, Inc. | 18 | ||||||
665 | Herc Holdings, Inc. (a) | 17 | ||||||
747 | Kaman Corp. | 42 | ||||||
195 | Lawson Products, Inc. (a) | 6 | ||||||
13,326 | MRC Global, Inc. (a) | 163 | ||||||
882 | Nexeo Solutions, Inc. (a) | 8 | ||||||
2,917 | NOW, Inc. (a) | 34 | ||||||
121 | Rush Enterprises, Inc. | 4 | ||||||
841 | Rush Enterprises, Inc., Class – A | 29 | ||||||
2,843 | SiteOne Landscape Supply, Inc. (a) | 157 | ||||||
318 | Systemax, Inc. | 8 | ||||||
750 | Textainer Group Holdings Ltd. (a) | 7 | ||||||
534 | Titan Machinery, Inc. (a) | 7 | ||||||
1,442 | Triton International Ltd. | 45 | ||||||
327 | Veritiv Corp. (a) | 8 | ||||||
2,158 | Watsco, Inc. | 300 | ||||||
107 | Willis Lease Finance Corp. (a) | 4 | ||||||
|
| |||||||
1,962 | ||||||||
|
| |||||||
Transportation Infrastructure — 0.31% |
| |||||||
11,444 | Macquarie Infrastructure Corp. | 418 | ||||||
|
| |||||||
Water Utilities — 0.18% |
| |||||||
1,011 | American States Water Co. | 68 | ||||||
350 | Aquaventure Holdings Ltd. (a) | 7 | ||||||
228 | Artesian Resources Corp. | 8 | ||||||
622 | Cadiz, Inc.^ (a) | 6 | ||||||
1,328 | California Water Service Group | 63 | ||||||
329 | Connecticut Water Service, Inc. | 22 | ||||||
434 | Consolidated Water Co. Ltd. | 5 | ||||||
362 | Global Water Resources, Inc. | 4 | ||||||
439 | Middlesex Water Co. | 23 |
Shares | Security Description | Value (000) | ||||||
Water Utilities (continued) |
| |||||||
518 | Pure Cycle Corp. (a) | $ | 5 | |||||
477 | SJW Corp. | 27 | ||||||
368 | The York Water Co. | 12 | ||||||
|
| |||||||
250 | ||||||||
|
| |||||||
Wireless Telecommunication Services — 0.17% |
| |||||||
1,140 | Boingo Wireless, Inc. (a) | 23 | ||||||
43,675 | Gogo, Inc.^ (a) | 131 | ||||||
2,491 | NII Holdings, Inc. (a) | 11 | ||||||
1,295 | Shenandoah Telecommunications Co. | 57 | ||||||
498 | Spok Holdings, Inc. | 7 | ||||||
|
| |||||||
229 | ||||||||
|
| |||||||
Total Common Stocks | 124,908 | |||||||
|
| |||||||
Contingent Right — 0.00% |
| |||||||
Chemicals — 0.00% |
| |||||||
755 | Schulman, Inc. (a) | — | ||||||
|
| |||||||
Total Contingent Right | — | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.02% |
| |||||||
$ | 25 | U.S. Treasury Bill, 2.36%, 3/7/19 (b)(c) | 25 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 25 | |||||||
|
| |||||||
Shares | ||||||||
Investment Companies — 7.56% |
| |||||||
545,179 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (d) | 545 | ||||||
864,246 | State Street Institutional Liquid Reserves Fund, Trust Class, 2.55% (d) | 864 | ||||||
8,770,931 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (d) | 8,771 | ||||||
|
| |||||||
Total Investment Companies | 10,180 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.61% |
| |||||||
$ | 823 | Jefferies LLC, 3.10%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $822,831 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $839,143)^^ | 823 | |||||
|
| |||||||
Total Repurchase Agreement | 823 | |||||||
|
| |||||||
Total Investments | 135,936 | |||||||
Liabilities in excess of other | (1,273 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 134,663 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $1,299 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
See accompanying notes to financial statements.
69
Table of Contents
HC CAPITAL TRUST
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
(a) | Representsnon-income producing security. |
(b) | Rate disclosed represents effective yield at purchase. |
(c) | All or part of this security has been pledged as collateral for derivative instruments held by the Portfolio. |
(d) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Institutional Small Capitalization-Mid Capitalization Equity Portfolio | Advisory Research, Inc. | Frontier Capital Management Company, LLC | Mellon Investments Corporation* | Parametric Portfolio Associates, LLC | Pzena Investment Management, LLC | HC Capital Solutions | Total | |||||||||||||||||||||
Common Stocks | 17.54 | % | 33.25 | % | 36.48 | % | — | 5.49 | % | — | 92.76 | % | ||||||||||||||||
Contingent Right | — | — | 0.00 | % | — | — | — | 0.00 | % | |||||||||||||||||||
U.S. Treasury Obligation | — | — | 0.02 | % | — | — | — | 0.02 | % | |||||||||||||||||||
Investment Companies | 0.81 | % | 0.13 | % | 0.24 | % | 3.41 | % | — | 2.97 | % | 7.56 | % | |||||||||||||||
Repurchase Agreement | 0.27 | % | 0.21 | % | 0.13 | % | — | — | — | 0.61 | % | |||||||||||||||||
Other Assets (Liabilities) | -0.83 | % | -0.26 | % | -0.15 | % | 0.25 | % | 0.04 | % | 0.00 | % | -0.95 | % | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total Net Assets | 17.79 | % | 33.33 | % | 36.72 | % | 3.66 | % | 5.53 | % | 2.97 | % | 100.00 | % | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
Russell 2000 Mini Index Future | 74 | 3/15/19 | $ | 4,991 | $ | (113 | ) | |||||||
|
|
|
| |||||||||||
$ | 4,991 | $ | (113 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (113 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (113 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
70
Table of Contents
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 86.84% |
| |||||||
Equity Real Estate Investment Trusts — 82.30% |
| |||||||
49,754 | Acadia Realty Trust | $ | 1,182 | |||||
32,662 | Agree Realty Corp. | 1,931 | ||||||
41,597 | Alexandria Real Estate Equities, Inc. | 4,794 | ||||||
34,096 | American Assets Trust, Inc. | 1,370 | ||||||
28,202 | American Tower Corp. | 4,461 | ||||||
57,917 | Apartment Investment & Management Co., | 2,541 | ||||||
36,150 | Boston Properties, Inc. | 4,069 | ||||||
44,522 | Camden Property Trust | 3,920 | ||||||
43,288 | Chesapeake Lodging Trust | 1,054 | ||||||
78,047 | Columbia Property Trust, Inc. | 1,510 | ||||||
55,213 | Community Healthcare Trust, Inc. | 1,592 | ||||||
8,257 | Coresite Realty Corp. | 720 | ||||||
51,461 | Corporate Office Properties Trust | 1,082 | ||||||
12,265 | Crown Castle International Corp. | 1,332 | ||||||
90,633 | Douglas Emmett, Inc. | 3,093 | ||||||
7,816 | Equinix, Inc. | 2,756 | ||||||
31,061 | Equity Lifestyle Properties, Inc. | 3,017 | ||||||
17,990 | Essex Property Trust, Inc. | 4,411 | ||||||
33,293 | Extra Space Storage, Inc. | 3,012 | ||||||
220,789 | HCP, Inc. | 6,167 | ||||||
49,568 | Invitation Homes, Inc. | 995 | ||||||
33,176 | JBG SMITH Properties | 1,155 | ||||||
23,148 | OMEGA Healthcare Investors, Inc. | 814 | ||||||
66,482 | Physicians Realty Trust | 1,066 | ||||||
102,118 | Prologis, Inc. | 5,996 | ||||||
12,955 | PS Business Parks, Inc. | 1,697 | ||||||
27,988 | Public Storage | 5,665 | ||||||
49,177 | Regency Centers Corp. | 2,886 | ||||||
100,813 | Rexford Industrial Realty, Inc. | 2,971 |
Shares | Security Description | Value (000) | ||||||
Equity Real Estate Investment Trusts (continued) |
| |||||||
58,435 | Simon Property Group, Inc. | $ | 9,816 | |||||
111,154 | Store Capital Corp. | 3,147 | ||||||
32,152 | Sun Communities, Inc. | 3,270 | ||||||
111,407 | UDR, Inc. | 4,414 | ||||||
61,212 | Xenia Hotels & Resorts, Inc. | 1,053 | ||||||
|
| |||||||
98,959 | ||||||||
|
| |||||||
Health Care Providers & Services — 0.66% |
| |||||||
6,820 | Universal Health Services, Inc., Class – B | 795 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure — 3.39% |
| |||||||
11,750 | Hilton Worldwide Holdings, Inc. | 844 | ||||||
25,354 | Hyatt Hotels Corp., Class – A | 1,714 | ||||||
7,225 | Vail Resorts, Inc. | 1,523 | ||||||
|
| |||||||
4,081 | ||||||||
|
| |||||||
Real Estate Management & Development — 0.49% |
| |||||||
32,338 | Kennedy-Wilson Holdings, Inc. | 588 | ||||||
|
| |||||||
Total Common Stocks | 104,423 | |||||||
|
| |||||||
Investment Companies — 12.79% |
| |||||||
961,981 | DWS Government Cash Money Market Fund, Institutional Shares, 2.27% (a) | 962 | ||||||
14,419,828 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (a) | 14,420 | ||||||
|
| |||||||
Total Investment Companies | 15,382 | |||||||
|
| |||||||
Total Investments | $ | 119,805 | ||||||
Other assets in excess of | 448 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 120,253 | ||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2018. |
See accompanying notes to financial statements.
71
Table of Contents
HC CAPITAL TRUST
The Real Estate Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Real Estate Securities Portfolio | Parametric Portfolio Associates, LLC | Wellington Management Company, LLP | HC Capital Solutions | Total | ||||||||||||
Common Stocks | — | 86.84 | % | — | 86.84 | % | ||||||||||
Investment Companies | 6.11 | % | 0.80 | % | 5.88 | % | 12.79 | % | ||||||||
Other Assets (Liabilities) | 0.04 | % | 0.32 | % | 0.01 | % | 0.37 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 6.15 | % | 87.96 | % | 5.89 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
Dow Jones U.S. Real Estate Index Future | 258 | 3/15/19 | $ | 7,637 | $ | (224 | ) | |||||||
|
|
|
| |||||||||||
$ | 7,637 | $ | (224 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (224 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (224 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
72
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 55.48% | ||||||||
Australia — 3.73% |
| |||||||
201,501 | Alumina Ltd. (Metals & Mining) | $ | 326 | |||||
78,040 | Amcor Ltd. (Containers & Packaging) | 729 | ||||||
219,668 | BHP Billiton Ltd. (Metals & Mining) | 5,309 | ||||||
144,647 | BHP Group PLC (Metals & Mining) | 3,056 | ||||||
88,783 | Boral Ltd. (Construction Materials) | 309 | ||||||
21,374 | Caltex Australia Ltd. (Oil, Gas & Consumable Fuels) | 383 | ||||||
128,159 | Fortescue Metals Group Ltd. (Metals & Mining) | 378 | ||||||
138,883 | Incitec Pivot Ltd. (Chemicals) | 321 | ||||||
51,698 | Newcrest Mining Ltd. (Metals & Mining) | 794 | ||||||
30,863 | Orica Ltd. (Chemicals) | 375 | ||||||
129,326 | Origin Energy Ltd. (Oil, Gas & Consumable Fuels) (a) | 590 | ||||||
29,921 | Rio Tinto Ltd. (Metals & Mining) | 1,656 | ||||||
112,537 | Santos Ltd. (Oil, Gas & Consumable Fuels) | 434 | ||||||
374,290 | South32 Ltd. (Metals & Mining) | 890 | ||||||
56,492 | Woodside Petroleum Ltd. (Oil, Gas & Consumable Fuels) | 1,244 | ||||||
|
| |||||||
16,794 | ||||||||
|
| |||||||
Austria — 0.17% |
| |||||||
11,050 | OMV AG (Oil, Gas & Consumable Fuels) | 483 | ||||||
9,360 | Voestalpine AG (Metals & Mining) | 279 | ||||||
|
| |||||||
762 | ||||||||
|
| |||||||
Belgium — 0.23% |
| |||||||
5,143 | Solvay SA (Chemicals) | 514 | ||||||
13,558 | Umicore SA (Chemicals) | 541 | ||||||
|
| |||||||
1,055 | ||||||||
|
| |||||||
Bermuda — 0.09% |
| |||||||
264,000 | Kunlun Energy Co. Ltd. (Oil, Gas & Consumable Fuels) | 280 | ||||||
135,000 | Nine Dragons Paper Holdings Ltd. (Paper & Forest Products) | 125 | ||||||
|
| |||||||
405 | ||||||||
|
| |||||||
Brazil — 1.25% |
| |||||||
51,400 | Companhia Siderurgica Nacional SA (CSN) (Metals & Mining) | 117 | ||||||
10,013 | Cosan SA Industria e Comercio (Oil, Gas & Consumable Fuels) | 86 | ||||||
15,077 | Duratex SA (Paper & Forest Products) | 46 | ||||||
20,600 | Fibria Celulose SA (Paper & Forest Products) | 360 | ||||||
214,212 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | 1,405 | ||||||
33,300 | Suzano Papel e Celulose SA (Paper & Forest Products) | 327 | ||||||
31,403 | Ultrapar Participacoes SA (Oil, Gas & Consumable Fuels) | 431 | ||||||
217,276 | Vale SA (Metals & Mining) | 2,859 | ||||||
|
| |||||||
5,631 | ||||||||
|
| |||||||
Canada — 5.32% |
| |||||||
15,600 | Agnico-Eagle Mines Ltd. (Metals & Mining) | 630 | ||||||
13,500 | AltaGas Ltd. (Gas Utilities)^ | 137 | ||||||
28,800 | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | 171 | ||||||
79,200 | Barrick Gold Corp. (Metals & Mining) | 1,070 | ||||||
32,500 | Cameco Corp. (Oil, Gas & Consumable Fuels) | 369 |
Shares | Security Description | Value (000) | ||||||
Canada (continued) |
| |||||||
79,669 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels) | $ | 1,923 | |||||
11,400 | CCL Industries, Inc., Class B (Containers & Packaging) | 418 | ||||||
60,914 | Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 428 | ||||||
44,300 | Crescent Point Energy Corp. (Oil, Gas & Consumable Fuels) | 134 | ||||||
11,781 | Eldorado Gold Corp. (Metals & Mining) (a) | 35 | ||||||
67,111 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 2,085 | ||||||
9,094 | Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 283 | ||||||
78,100 | Encana Corp. (Oil, Gas & Consumable Fuels) | 451 | ||||||
55,460 | First Quantum Minerals Ltd. (Metals & Mining) | 449 | ||||||
11,940 | Franco-Nevada Corp. (Metals & Mining) | 837 | ||||||
56,900 | Goldcorp, Inc. (Metals & Mining) | 557 | ||||||
28,775 | Husky Energy, Inc. (Oil, Gas & Consumable Fuels) | 297 | ||||||
21,760 | Imperial Oil Ltd. (Oil, Gas & Consumable Fuels) | 551 | ||||||
29,500 | Inter Pipeline Ltd. (Oil, Gas & Consumable Fuels) | 418 | ||||||
5,114 | International Petroleum Corp. (Oil, Gas & Consumable Fuels) (a) | 17 | ||||||
15,000 | Keyera Corp. (Oil, Gas & Consumable Fuels) | 284 | ||||||
102,400 | Kinross Gold Corp. (Metals & Mining) (a) | 330 | ||||||
7,400 | Methanex Corp. (Chemicals) | 356 | ||||||
44,183 | Nutrien Ltd. (Chemicals) | 2,075 | ||||||
36,271 | Pembina Pipelines Corp. (Oil, Gas & Consumable Fuels)^ | 1,076 | ||||||
13,500 | Peyto Exploration & Development Corp. (Oil, Gas & Consumable Fuels)^ | 70 | ||||||
16,900 | PrairieSky Royalty Ltd. (Oil, Gas & Consumable Fuels) | 219 | ||||||
19,700 | Seven Generations Energy (Oil, Gas & Consumable Fuels) (a) | 161 | ||||||
120,022 | Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | 3,353 | ||||||
38,297 | Teck Cominco Ltd., Class B (Metals & Mining) | 825 | ||||||
17,300 | Tourmaline Oil Corp. (Oil, Gas & Consumable Fuels) | 215 | ||||||
61,800 | TransCanada Corp. (Oil, Gas & Consumable Fuels) | 2,207 | ||||||
82,806 | Turquoise Hill Resources Ltd. (Metals & Mining) (a) | 136 | ||||||
42,247 | Uranium Participation Corp. (Capital Markets) (a)(b) | 139 | ||||||
9,500 | Vermilion Energy, Inc. (Oil, Gas & Consumable | 200 | ||||||
5,500 | West Fraser Timber Co. Ltd. (Paper & Forest Products) | 272 | ||||||
30,551 | Wheaton Precious Metals Corp. (Metals & Mining) | 596 | ||||||
78,000 | Yamana Gold, Inc. (Metals & Mining) | 183 | ||||||
|
| |||||||
23,957 | ||||||||
|
| |||||||
Chile — 0.24% |
| |||||||
32,461 | Antofagasta PLC (Metals & Mining) | 325 | ||||||
102,896 | Empresas CMPC SA (Paper & Forest Products) | 327 | ||||||
37,285 | Empresas Copec SA (Oil, Gas & Consumable Fuels) | 448 | ||||||
|
| |||||||
1,100 | ||||||||
|
|
73
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China — 1.42% |
| |||||||
324,000 | Aluminum Corporation of China Ltd., H Shares (Metals & Mining) (a) | $ | 104 | |||||
101,700 | Anhui Conch Cement Co. Ltd., H Shares (Construction Materials) | 492 | ||||||
168,000 | China Coal Energy Co. Ltd., Class H (Oil, Gas & Consumable Fuels) | 66 | ||||||
238,000 | China National Building Material Co. Ltd., | 163 | ||||||
149,000 | China Oilfield Services Ltd., H Shares (Energy Equipment & Services) | 128 | ||||||
1,835,869 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 1,309 | ||||||
295,300 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 644 | ||||||
1,289,302 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 1,986 | ||||||
103,000 | Jiangxi Copper Co. Ltd., H Shares (Metals & Mining) | 121 | ||||||
1,512,729 | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | 939 | ||||||
288,000 | Sinopec Shanghai Petrochemical Co. Ltd., | 126 | ||||||
152,000 | Yanzhou Coal Mining Co., H Shares (Oil, Gas & Consumable Fuels) | 123 | ||||||
471,000 | Zijin Mining Group Co. Ltd., H Shares (Metals & Mining) | 178 | ||||||
|
| |||||||
6,379 | ||||||||
|
| |||||||
Colombia — 0.12% |
| |||||||
37,921 | Cementos Argos SA (Construction Materials) | 81 | ||||||
404,361 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 329 | ||||||
23,907 | Grupo Argos SA (Construction Materials) | 125 | ||||||
|
| |||||||
535 | ||||||||
|
| |||||||
Denmark — 0.30% |
| |||||||
7,071 | Christian Hansen Holding A/S (Chemicals) | 628 | ||||||
16,161 | Novozymes A/S, B Shares (Chemicals) | 722 | ||||||
|
| |||||||
1,350 | ||||||||
|
| |||||||
Finland — 0.48% |
| |||||||
9,731 | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | 753 | ||||||
39,061 | Stora Enso Oyj, R Shares (Paper & Forest Products) | 453 | ||||||
37,570 | UPM-Kymmene Oyj (Paper & Forest Products) | 951 | ||||||
|
| |||||||
2,157 | ||||||||
|
| |||||||
France — 2.85% |
| |||||||
29,272 | Air Liquide SA (Chemicals) | 3,634 | ||||||
5,591 | Arkema SA (Chemicals) | 480 | ||||||
2,947 | Imerys SA (Construction Materials) | 142 | ||||||
162,809 | Total SA (Oil, Gas & Consumable Fuels) | 8,586 | ||||||
|
| |||||||
12,842 | ||||||||
|
| |||||||
Germany — 2.27% |
| |||||||
62,728 | BASF SE (Chemicals) | 4,368 | ||||||
5,834 | Covestro AG (Chemicals) | 289 | ||||||
13,425 | Evonik Industries AG (Chemicals) | 335 | ||||||
9,979 | HeidelbergCement AG (Construction Materials) | 612 | ||||||
15,755 | K+S AG – Registered (Chemicals) | 285 | ||||||
7,534 | Lanxess AG (Chemicals) | 346 |
Shares | Security Description | Value (000) | ||||||
Germany (continued) |
| |||||||
12,736 | Linde AG (Chemicals) | $ | 2,827 | |||||
8,837 | Symrise AG (Chemicals) | 655 | ||||||
29,561 | ThyssenKrupp AG (Metals & Mining) | 508 | ||||||
|
| |||||||
10,225 | ||||||||
|
| |||||||
Greece — 0.01% |
| |||||||
2,571 | Titan Cement Co. SA (Construction Materials) | 57 | ||||||
|
| |||||||
Hungary — 0.06% |
| |||||||
23,504 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 258 | ||||||
|
| |||||||
India — 0.84% |
| |||||||
105,496 | Reliance Industries Ltd., GDR (Oil, Gas & Consumable Fuels) (c) | 3,358 | ||||||
25,066 | Tata Steel Ltd., Registered Shares, GDR (Metals & Mining) | 186 | ||||||
21,183 | Vedanta Ltd., ADR (Metals & Mining) | 244 | ||||||
|
| |||||||
3,788 | ||||||||
|
| |||||||
Indonesia — 0.16% |
| |||||||
1,179,600 | PT Adaro Energy Tbk (Oil, Gas & Consumable Fuels) | 100 | ||||||
121,200 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 156 | ||||||
244,100 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 195 | ||||||
137,600 | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | 262 | ||||||
|
| |||||||
713 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.34% |
| |||||||
58,328 | CRH PLC (Construction Materials) | 1,545 | ||||||
|
| |||||||
Israel — 0.05% |
| |||||||
42,019 | Israel Chemicals Ltd. (Chemicals) | 239 | ||||||
|
| |||||||
Italy — 0.86% |
| |||||||
183,724 | Eni SpA (Oil, Gas & Consumable Fuels) | 2,902 | ||||||
49,711 | Saipem SpA (Energy Equipment & Services) (a) | 186 | ||||||
181,718 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 796 | ||||||
|
| |||||||
3,884 | ||||||||
|
| |||||||
Japan — 3.32% |
| |||||||
12,300 | Air Water, Inc. (Chemicals) | 185 | ||||||
89,900 | Asahi Kasei Corp. (Chemicals) | 923 | ||||||
23,000 | Daicel Corp. (Chemicals) | 236 | ||||||
8,500 | Hitachi Chemical Co. Ltd. (Chemicals) | 128 | ||||||
17,600 | Hitachi Metals Ltd. (Metals & Mining) | 183 | ||||||
7,200 | Idemitsu Kosan Co. Ltd. (Oil, Gas & Consumable Fuels) | 234 | ||||||
70,300 | INPEX Corp. (Oil, Gas & Consumable Fuels) | 623 | ||||||
36,400 | JFE Holdings, Inc. (Metals & Mining) | 580 | ||||||
15,800 | JSR Corp. (Chemicals) | 237 | ||||||
223,894 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 1,164 | ||||||
4,500 | Kaneka Corp. (Chemicals) | 161 | ||||||
18,000 | Kansai Paint Co. Ltd. (Chemicals) | 346 | ||||||
25,500 | Kobe Steel Ltd. (Metals & Mining) | 177 | ||||||
29,200 | Kuraray Co. Ltd. (Chemicals) | 411 | ||||||
4,600 | Maruichi Steel Tube Ltd. (Metals & Mining) | 144 |
See accompanying notes to financial statements.
74
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) |
| |||||||
94,900 | Mitsubishi Chemical Holdings Corp. (Chemicals) | $ | 717 | |||||
14,900 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 223 | ||||||
9,200 | Mitsubishi Materials Corp. (Metals & Mining) | 242 | ||||||
15,100 | Mitsui Chemicals, Inc. (Chemicals) | 341 | ||||||
13,500 | Nippon Paint Holdings Co. Ltd. (Chemicals)^ | 460 | ||||||
54,700 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 940 | ||||||
8,700 | Nissan Chemical Industries Ltd. (Chemicals) | 454 | ||||||
11,100 | Nitto Denko Corp. (Chemicals) | 557 | ||||||
66,700 | Oji Paper Co. Ltd. (Paper & Forest Products) | 341 | ||||||
26,615 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 2,045 | ||||||
15,400 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 213 | ||||||
111,800 | Sumitomo Chemical Co. Ltd. (Chemicals) | 541 | ||||||
17,400 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 466 | ||||||
10,000 | Taiheiyo Cement Corp. (Construction Materials) | 308 | ||||||
8,500 | Taiyo Nippon Sanso Corp. (Chemicals) | 138 | ||||||
15,400 | Teijin Ltd. (Chemicals) | 246 | ||||||
99,100 | Toray Industries, Inc. (Chemicals) | 701 | ||||||
13,500 | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | 309 | ||||||
|
| |||||||
14,974 | ||||||||
|
| |||||||
Jersey — 0.84% |
| |||||||
837,378 | Glencore International PLC (Metals & Mining) | 3,113 | ||||||
21,262 | Petrofac Ltd. (Energy Equipment & Services) | 129 | ||||||
6,681 | Randgold Resources Ltd. (Metals & Mining) | 557 | ||||||
|
| |||||||
3,799 | ||||||||
|
| |||||||
Luxembourg — 0.29% |
| |||||||
43,179 | ArcelorMittal (Metals & Mining) | 894 | ||||||
37,780 | Tenaris SA (Energy Equipment & Services) | 406 | ||||||
|
| |||||||
1,300 | ||||||||
|
| |||||||
Malaysia — 0.13% |
| |||||||
23,200 | Lafarge Malayan Cement Berhad (Construction Materials) (a) | 10 | ||||||
197,500 | Petronas Chemicals Group Berhad (Chemicals) | 444 | ||||||
16,300 | Petronas Dagangan Berhad (Oil, Gas & Consumable Fuels) | 104 | ||||||
399,400 | SapuraKencana Petroleum Berhad (Energy Equipment & Services) (a) | 28 | ||||||
|
| |||||||
586 | ||||||||
|
| |||||||
Mexico — 0.32% |
| |||||||
1,126,841 | CEMEX SAB de CV (Construction Materials) (a) | 545 | ||||||
254,434 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 525 | ||||||
11,454 | Industrias Penoles SAB de CV (Metals & Mining) | 140 | ||||||
87,920 | Mexichem SAB de CV (Chemicals) | 223 | ||||||
|
| |||||||
1,433 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Netherlands — 0.89% |
| |||||||
17,483 | Akzo Nobel N.V. (Chemicals) | $ | 1,408 | |||||
2,489 | Core Laboratories N.V. (Energy Equipment & Services) | 148 | ||||||
13,309 | Koninklijke DSM N.V. (Chemicals) | 1,080 | ||||||
5,762 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 261 | ||||||
13,467 | LyondellBasell Industries N.V., Class – A (Chemicals) | 1,120 | ||||||
|
| |||||||
4,017 | ||||||||
|
| |||||||
New Zealand — 0.04% |
| |||||||
57,004 | Fletcher Building Ltd. (Construction Materials) (a) | 187 | ||||||
|
| |||||||
Norway — 0.61% |
| |||||||
83,451 | Equinor ASA (Oil, Gas & Consumable Fuels) | 1,771 | ||||||
110,703 | Norsk Hydro ASA (Metals & Mining) | 502 | ||||||
12,615 | Yara International ASA (Chemicals) | 487 | ||||||
|
| |||||||
2,760 | ||||||||
|
| |||||||
Papua New Guinea — 0.11% |
| |||||||
102,959 | Oil Search Ltd. (Oil, Gas & Consumable Fuels) | 518 | ||||||
|
| |||||||
Peru — 0.06% |
| |||||||
15,600 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 253 | ||||||
|
| |||||||
Poland — 0.36% |
| |||||||
2,483 | Grupa Azoty SA (Chemicals) | 21 | ||||||
11,202 | Grupa Lotos SA (Oil, Gas & Consumable Fuels) | 266 | ||||||
4,349 | Jastrzebska Spolka Weglowa SA (Metals & Mining) (a) | 79 | ||||||
11,525 | KGHM Polska Miedz SA (Metals & Mining) (a) | 273 | ||||||
24,281 | Polski Koncern Naftowy Orlen SA (Oil, Gas & Consumable Fuels) | 704 | ||||||
145,058 | Polskie Gornictwo Naftowe i Gazownictwo SA (Oil, Gas & Consumable Fuels) | 268 | ||||||
|
| |||||||
1,611 | ||||||||
|
| |||||||
Portugal — 0.13% |
| |||||||
37,788 | Galp Energia SGPS SA, B Shares (Oil, Gas & Consumable Fuels) | 595 | ||||||
|
| |||||||
Qatar — 0.02% |
| |||||||
22,248 | Qatar Gas Transport Co. Ltd. (Oil, Gas & Consumable Fuels) | 109 | ||||||
|
| |||||||
Russia — 2.13% |
| |||||||
212,210 | ALROSA AO (Metals & Mining) | 300 | ||||||
480,062 | Gazprom OAO, ADR (Oil, Gas & Consumable Fuels) | 2,125 | ||||||
34,703 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | 2,485 | ||||||
43,018 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | 810 | ||||||
7,726 | Novatek OAO, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 1,320 | ||||||
7,995 | Phosagro OAO, GDR (Chemicals) | 102 | ||||||
96,866 | Rosneft Oil Co. OJSC, Registered Shares, GDR (Oil, Gas & Consumable Fuels) | 598 | ||||||
17,156 | Severstal, Registered Shares, GDR (Metals & Mining) | 234 | ||||||
118,639 | Surgutneftegas, ADR (Oil, Gas & Consumable Fuels) | 451 |
See accompanying notes to financial statements.
75
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia (continued) |
| |||||||
18,846 | Tatneft PJSC, ADR (Oil, Gas & Consumable Fuels) | $ | 1,187 | |||||
|
| |||||||
9,612 | ||||||||
|
| |||||||
South Africa — 0.61% |
| |||||||
4,440 | Anglo Platinum Ltd. (Metals & Mining) | 166 | ||||||
33,598 | AngloGold Ashanti Ltd. (Metals & Mining) | 429 | ||||||
17,360 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 168 | ||||||
67,626 | Gold Fields Ltd. (Metals & Mining) | 235 | ||||||
51,413 | Impala Platinum Holdings Ltd. (Metals & Mining) (a) | 131 | ||||||
9,740 | Mondi Ltd. (Paper & Forest Products) | 210 | ||||||
44,570 | Sappi Ltd. (Paper & Forest Products) | 254 | ||||||
37,610 | Sasol Ltd. (Chemicals) | 1,120 | ||||||
60,842 | Sibanye Gold Ltd. (Metals & Mining) (a) | 44 | ||||||
|
| |||||||
2,757 | ||||||||
|
| |||||||
South Korea — 1.13% |
| |||||||
4,189 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 194 | ||||||
8,818 | Hanwha Chemical Corp. (Chemicals) | 160 | ||||||
1,269 | Honam Petrochemical Corp. (Chemicals) | 316 | ||||||
221 | Hyosung Advanced Materials Corp. (Chemicals) (a) | 20 | ||||||
157 | Hyosung Chemical Corp. (Chemicals) (a) | 20 | ||||||
681 | Hyosung Corp. (Industrial Conglomerates) | 31 | ||||||
461 | Hyosung Heavy Industries Corp. (Electrical Equipment) (a) | 17 | ||||||
214 | Hyosung TNC Co. Ltd., L Shares (Textiles, Apparel & Luxury Goods) (a) | 35 | ||||||
6,590 | Hyundai Steel Co. (Metals & Mining) | 268 | ||||||
699 | Korea Zinc Co. (Metals & Mining) | 271 | ||||||
1,505 | Kumho Petro Chemical Co. Ltd. (Chemicals) | 118 | ||||||
3,728 | LG Chem Ltd. (Chemicals) | 1,162 | ||||||
928 | OCI Co. Ltd. (Chemicals) | 89 | ||||||
5,389 | POSCO (Metals & Mining) | 1,179 | ||||||
5,490 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 881 | ||||||
3,691 | S-Oil Corp. (Oil, Gas & Consumable Fuels)^ | 322 | ||||||
|
| |||||||
5,083 | ||||||||
|
| |||||||
Spain — 0.29% |
| |||||||
81,810 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 1,315 | ||||||
|
| |||||||
Sweden — 0.19% |
| |||||||
22,515 | Boliden AB (Metals & Mining) | 489 | ||||||
15,343 | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) | 383 | ||||||
|
| |||||||
872 | ||||||||
|
| |||||||
Switzerland — 0.97% |
| |||||||
674 | EMS-Chemie Holding AG, Registered Shares (Chemicals) | 321 | ||||||
652 | Givaudan SA (Chemicals) | 1,512 | ||||||
32,132 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 1,327 | ||||||
9,465 | Sika AG, Registered Shares (Chemicals) | 1,203 | ||||||
|
| �� | ||||||
4,363 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Taiwan — 1.01% |
| |||||||
194,082 | Asia Cement Corp. (Construction Materials) | $ | 215 | |||||
948,376 | China Steel Corp. (Metals & Mining) | 749 | ||||||
259,000 | Formosa Chemicals & Fibre Corp. (Chemicals) | 886 | ||||||
94,000 | Formosa Petrochemical Corp. (Oil, Gas & Consumable Fuels) | 334 | ||||||
319,160 | Formosa Plastics Corp. (Chemicals) | 1,049 | ||||||
367,010 | Nan Ya Plastics Corp. (Chemicals) | 903 | ||||||
301,300 | Taiwan Cement Corp. (Construction Materials) | 347 | ||||||
49,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 69 | ||||||
|
| |||||||
4,552 | ||||||||
|
| |||||||
Thailand — 0.71% |
| |||||||
102,000 | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | 46 | ||||||
91,800 | Energy Absolute Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 120 | ||||||
69,700 | Indorama Ventures PCL (Chemicals) | 116 | ||||||
1,190,200 | IRPC PCL (Oil, Gas & Consumable Fuels) | 210 | ||||||
184,155 | PTT Chemical Public Co. Ltd. (Chemicals) | 404 | ||||||
131,004 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 455 | ||||||
898,800 | PTT PCL (Oil, Gas & Consumable Fuels) | 1,269 | ||||||
33,700 | Siam Cement PCL (Construction Materials) | 451 | ||||||
67,100 | Thai Oil Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 136 | ||||||
|
| |||||||
3,207 | ||||||||
|
| |||||||
Turkey — 0.09% |
| |||||||
115,243 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 157 | ||||||
40,050 | Petkim Petrokimya Holding A/S (Chemicals) | 38 | ||||||
10,262 | Tupras-Turkiye Petrol Rafinerileri A/S (Oil, Gas & Consumable Fuels) | 227 | ||||||
|
| |||||||
422 | ||||||||
|
| |||||||
United Kingdom — 8.02% |
| |||||||
98,857 | Anglo American PLC (Metals & Mining) | 2,210 | ||||||
1,357,480 | BP PLC (Oil, Gas & Consumable Fuels) | 8,579 | ||||||
9,346 | Croda International PLC (Chemicals) | 558 | ||||||
18,198 | Fresnillo PLC (Metals & Mining) | 200 | ||||||
13,717 | Johnson Matthey PLC (Chemicals) | 490 | ||||||
10,918 | Linde PLC (Chemicals) | 1,703 | ||||||
26,160 | Mondi PLC (Paper & Forest Products) | 545 | ||||||
84,604 | Rio Tinto PLC (Metals & Mining) | 4,051 | ||||||
312,593 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 9,199 | ||||||
270,089 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 8,074 | ||||||
12,931 | TechnipFMC PLC (Energy Equipment & Services) | 260 | ||||||
13,280 | TechnipFMC PLC (Energy Equipment & Services) | 260 | ||||||
|
| |||||||
36,129 | ||||||||
|
| |||||||
United States — 12.42% |
| |||||||
8,099 | Air Products & Chemicals, Inc. (Chemicals) | 1,296 | ||||||
4,222 | Albemarle Corp. (Chemicals) | 325 | ||||||
22,220 | Anadarko Petroleum Corp. (Oil, Gas & Consumable Fuels) | 974 |
See accompanying notes to financial statements.
76
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) |
| |||||||
15,346 | Apache Corp. (Oil, Gas & Consumable Fuels) | $ | 403 | |||||
3,787 | Ashland Global Holdings, Inc. (Chemicals) | 269 | ||||||
3,426 | Avery Dennison Corp. (Containers & Packaging) | 308 | ||||||
13,169 | Axalta Coating Systems Ltd. (Chemicals) (a) | 308 | ||||||
15,513 | Baker Hughes, Inc. (Energy Equipment & Services) | 334 | ||||||
12,407 | Ball Corp. (Containers & Packaging) | 570 | ||||||
18,837 | Cabot Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | 421 | ||||||
5,340 | Celanese Corp., Series A (Chemicals) | 480 | ||||||
8,834 | CF Industries Holdings, Inc. (Chemicals) | 384 | ||||||
56,354 | Chevron Corp. (Oil, Gas & Consumable Fuels) | 6,130 | ||||||
4,927 | Cimarex Energy Co. (Oil, Gas & Consumable Fuels) | 304 | ||||||
5,779 | Concho Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 594 | ||||||
50,325 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 3,138 | ||||||
5,555 | Continental Resources, Inc. (Oil, Gas & Consumable Fuels) (a) | 223 | ||||||
6,143 | Crown Holdings, Inc. (Containers & Packaging) (a) | 255 | ||||||
19,007 | Devon Energy Corp. (Oil, Gas & Consumable Fuels) | 428 | ||||||
3,058 | Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | 283 | ||||||
86,577 | DowDuPont, Inc. (Chemicals) | 4,631 | ||||||
5,397 | Eastman Chemical Co. (Chemicals) | 395 | ||||||
10,118 | Ecolab, Inc. (Chemicals) | 1,491 | ||||||
23,406 | EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | 2,041 | ||||||
10,503 | EQT Corp. (Oil, Gas & Consumable Fuels) | 198 | ||||||
8,242 | Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) (a) | 165 | ||||||
72,912 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 4,972 | ||||||
5,200 | FMC Corp. (Chemicals) | 385 | ||||||
48,588 | Freeport-McMoRan Copper & Gold, Inc. (Metals & Mining) | 501 | ||||||
34,549 | Halliburton Co. (Energy Equipment & Services) | 918 | ||||||
6,459 | Helmerich & Payne, Inc. (Energy Equipment & Services) | 310 | ||||||
11,606 | Hess Corp. (Oil, Gas & Consumable Fuels) | 470 | ||||||
6,854 | HollyFrontier Corp. (Oil, Gas & Consumable Fuels) | 350 | ||||||
3,030 | International Flavors & Fragrances, Inc. (Chemicals) | 407 | ||||||
15,162 | International Paper Co. (Containers & Packaging) | 612 | ||||||
76,640 | Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 1,179 | ||||||
34,536 | Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | 495 | ||||||
30,651 | Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | 1,809 | ||||||
2,158 | Martin Marietta Materials, Inc. (Construction Materials) | 371 | ||||||
9,840 | Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | 230 | ||||||
15,215 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 391 |
Shares | Security Description | Value (000) | ||||||
United States (continued) |
| |||||||
11,130 | Newfield Exploration Co. (Oil, Gas & Consumable Fuels) (a) | $ | 163 | |||||
20,732 | Newmont Mining Corp. (Metals & Mining) | 718 | ||||||
16,425 | Noble Energy, Inc. (Oil, Gas & Consumable Fuels) | 308 | ||||||
12,396 | Nucor Corp. (Metals & Mining) | 642 | ||||||
30,916 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 1,898 | ||||||
8,548 | ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 461 | ||||||
3,505 | Packaging Corporation of America (Containers & Packaging) | 293 | ||||||
8,543 | Parsley Energy, Inc., Class – A (Oil, Gas & Consumable Fuels) (a) | 137 | ||||||
19,037 | Phillips 66 (Oil, Gas & Consumable Fuels) | 1,640 | ||||||
6,749 | Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | 888 | ||||||
5,162 | Plains GP Holdings LP, Class A (Oil, Gas & Consumable Fuels) | 104 | ||||||
10,512 | PPG Industries, Inc. (Chemicals) | 1,075 | ||||||
9,978 | Range Resources Corp. (Oil, Gas & Consumable Fuels) | 95 | ||||||
56,226 | Schlumberger Ltd. (Energy Equipment & Services) | 2,028 | ||||||
8,500 | Sealed Air Corp. (Containers & Packaging) | 296 | ||||||
7,760 | Southern Copper Corp. (Metals & Mining) | 239 | ||||||
6,512 | Targa Resources Corp. (Oil, Gas & Consumable Fuels) | 235 | ||||||
12,610 | The Mosaic Co. (Chemicals) | 368 | ||||||
3,051 | The Sherwin-Williams Co. (Chemicals) | 1,200 | ||||||
29,321 | The Williams Companies, Inc. (Oil, Gas & Consumable Fuels) | 647 | ||||||
19,160 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 1,436 | ||||||
10,083 | Valvoline, Inc. (Chemicals) | 195 | ||||||
5,103 | Vulcan Materials Co. (Construction Materials) | 504 | ||||||
4,276 | W.R. Grace & Co. (Chemicals) | 278 | ||||||
9,129 | WestRock Co. (Containers & Packaging) | 345 | ||||||
|
| |||||||
55,941 | ||||||||
|
| |||||||
Total Common Stocks | 250,071 | |||||||
|
| |||||||
Preferred Stocks — 0.72% | ||||||||
Brazil — 0.51% |
| |||||||
12,700 | Braskem SA – Preferred, Class A (Chemicals) | 155 | ||||||
75,500 | Gerdau SA – Preferred (Metals & Mining) | 289 | ||||||
276,900 | Klabin SA – Preferred (Containers & Packaging) | 202 | ||||||
282,775 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) (a) | 1,656 | ||||||
|
| |||||||
2,302 | ||||||||
|
| |||||||
Chile — 0.07% |
| |||||||
7,927 | Sociedad Quimica y Minera de Chile SA – Preferred, B Shares (Chemicals) | 312 | ||||||
|
| |||||||
Germany — 0.05% |
| |||||||
5,721 | Fuchs Petrolub AG – Preferred (Chemicals) | 236 | ||||||
|
| |||||||
Russia — 0.07% |
| |||||||
127 | AK Transneft OAO – Preferred (Oil, Gas & Consumable Fuels) | 313 | ||||||
|
|
See accompanying notes to financial statements.
77
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Preferred Stocks (continued) | ||||||||
South Korea — 0.02% |
| |||||||
424 | LG Chem Ltd. – Preferred (Chemicals) | $ | 74 | |||||
|
| |||||||
Total Preferred Stocks | 3,237 | |||||||
|
| |||||||
Rights — 0.01% | ||||||||
France — 0.00% |
| |||||||
— | Total SA (Financials) (d) | — | ||||||
|
| |||||||
Malaysia — 0.00% |
| |||||||
907,166 | Sapura Energy Berhad (Energy Equipment & Services) (d) | — | ||||||
|
| |||||||
Spain — 0.01% | ||||||||
111,494 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | 51 | ||||||
|
| |||||||
Total Rights | 51 | |||||||
|
| |||||||
Warrant — 0.00% | ||||||||
Malaysia — 0.00% |
| |||||||
217,720 | Sapura Energy Berhad (Energy Equipment & Services) (d) | — | ||||||
|
| |||||||
Total Warrant | — | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
U.S. Treasury Obligation — 0.01% | ||||||||
$ | 60 | U.S. Treasury Bill, 2.35%, 2/28/19 (b)(e) | 60 | |||||
|
| |||||||
Total U.S. Treasury Obligation | 60 | |||||||
|
| |||||||
Shares | ||||||||
Investment Companies — 30.25% | ||||||||
542,095 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (f) | 542 | ||||||
135,845,485 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (f) | 135,846 | ||||||
|
| |||||||
Total Investment Companies | 136,388 | |||||||
|
| |||||||
Purchased Options — 0.00% | ||||||||
Total Purchased Options | — | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreements — 1.18% | ||||||||
$ | 1,200 | Bank of America Corp., 2.95%, 1/2/19 | 1,200 | |||||
1,100 | BNP Paribas, 2.95%, 1/2/19 | 1,100 | ||||||
1,200 | Deutsche Bank Securities, Inc., 2.91%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $1,200,194 collateralized by U.S. Treasury Note, 2.88%, 11/30/23, fair value $1,224,002) (b) | 1,200 |
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreements (continued) | ||||||||
$ | 818 | Jefferies LLC, 3.10%, 1/2/19 | $ | 818 | ||||
1,000 | NatWest Markets PLC, 2.92%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $1,000,162 collateralized by U.S. Treasury Note, 0.13%, 4/15/19, fair value $1,020,104) (b) | 1,000 | ||||||
|
| |||||||
Total Repurchase Agreements | 5,318 | |||||||
|
| |||||||
Total Investments | 395,125 | |||||||
Other assets in excess of | 55,682 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 450,807 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
Portfolio of Investments is presented on a consolidated basis. See Note 2.O. in the Notes to Financial Statements
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $2,229 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Representsnon-income producing security. |
(b) | All or a portion of these investments are held by the wholly-owned subsidiaries of the Portfolio. See Note 2.O. in the Notes to Financial Statements. |
(c) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(d) | These securities have been deemed illiquid by the Specialist Manager and represents 0.00% of the Portfolio’s net assets. |
(e) | Rate disclosed represents effective yield at purchase. |
(f) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
GDR — Global Depositary Receipt
See accompanying notes to financial statements.
78
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Commodity Returns Strategy Portfolio | Mellon Investments Corporation* | Parametric Portfolio Associates, LLC | Wellington Management Company, LLP | HC Capital Solutions | Total | |||||||||||||||
Common Stocks | 55.45 | % | — | 0.03 | % | — | 55.48 | % | ||||||||||||
Preferred Stocks | 0.72 | % | — | — | — | 0.72 | % | |||||||||||||
Rights | 0.01 | % | — | — | — | 0.01 | % | |||||||||||||
Warrant | 0.00 | % | — | — | — | 0.00 | % | |||||||||||||
U.S. Treasury Obligation | — | — | 0.01 | % | — | 0.01 | % | |||||||||||||
Investment Companies | 9.69 | % | 20.09 | % | — | 0.47 | % | 30.25 | % | |||||||||||
Purchased Options | — | — | 0.00 | % | — | 0.00 | % | |||||||||||||
Repurchase Agreements | 0.18 | % | 0.80 | % | 0.20 | % | — | 1.18 | % | |||||||||||
Other Assets | -6.77 | % | 18.24 | % | 0.88 | % | 0.00 | % | 12.35 | % | ||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||
Total Net Assets | 59.28 | % | 39.13 | % | 1.12 | % | 0.47 | % | 100.00 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts | designated as “—” indicate the Specialist Manager did not manage any holdings in that category. |
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
Brent Crude Future (a) | 9 | 2/28/19 | $ | 486 | $ | (135 | ) | |||||||||
Brent Crude Future (a) | 1 | 10/29/21 | 57 | — | ||||||||||||
Canadian Dollar Future | 1,512 | 3/19/19 | 111,148 | (1,369 | ) | |||||||||||
Cocoa Future (a) | 1 | 3/14/19 | 24 | 3 | ||||||||||||
Coffee ‘C’ Future (a) | 1 | 3/19/19 | 38 | (8 | ) | |||||||||||
Corn Future (a) | 16 | 3/14/19 | 300 | 2 | ||||||||||||
Cotton No.2 Future (a) | 1 | 3/7/19 | 36 | (3 | ) | |||||||||||
Electrolytic Copper Future (a) | 4 | 3/18/19 | 597 | (10 | ) | |||||||||||
E-Mini S&P 500 Future | 240 | 3/15/19 | 30,062 | 554 | ||||||||||||
Gas Oil Future (a) | 2 | 2/12/19 | 102 | (11 | ) | |||||||||||
Gasoline RBOB Future (a) | 5 | 2/28/19 | 276 | (18 | ) | |||||||||||
Gold 100 Oz Future (a) | 9 | 4/26/19 | 1,159 | 26 | ||||||||||||
Hard Red Winter Wheat Future (a) | 3 | 3/14/19 | 73 | — | ||||||||||||
Lean Hogs Future (a) | 1 | 2/14/19 | 24 | — | ||||||||||||
Live Cattle Future (a) | 2 | 2/28/19 | 99 | 3 | ||||||||||||
LME Lead Future (a) | 1 | 6/17/19 | 51 | 2 | ||||||||||||
LME Lead Future (a) | 1 | 12/16/19 | 51 | 1 | ||||||||||||
MSCI EAFE Index Future | 340 | 3/15/19 | 29,172 | 331 | ||||||||||||
MSCI Emerging Markets Index Future | 259 | 3/15/19 | 12,520 | 137 | ||||||||||||
Natural Gas Future (a) | 2 | 2/26/19 | 57 | (24 | ) | |||||||||||
Natural Gas Future (a) | 4 | 3/27/19 | 107 | 3 | ||||||||||||
NY Harbor ULSD Future (a) | 1 | 2/28/19 | 70 | (2 | ) | |||||||||||
NYMEX WTI Crude Future (a) | 1 | 1/22/19 | 45 | (7 | ) | |||||||||||
NYMEX WTI Crude Future (a) | 5 | 2/20/19 | 229 | (24 | ) | |||||||||||
NYMEX WTI Crude Future (a) | 1 | 5/21/19 | 47 | — |
See accompanying notes to financial statements.
79
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
Platinum Future (a) | 1 | 4/26/19 | $ | 40 | $ | (1 | ) | |||||||||
Primary Aluminum Future (a) | 3 | 3/18/19 | 139 | (16 | ) | |||||||||||
Primary Aluminum Future (a) | 7 | 6/17/19 | 327 | (38 | ) | |||||||||||
Primary Nickel Future (a) | 1 | 3/18/19 | 64 | (1 | ) | |||||||||||
S&P/Toronto Stock Exchange 60 Index Future | 856 | 3/14/19 | 107,525 | (300 | ) | |||||||||||
Soybean Future (a) | 3 | 3/14/19 | 134 | (4 | ) | |||||||||||
Soybean Meal Future (a) | 1 | 3/14/19 | 31 | (1 | ) | |||||||||||
Sugar #11 (World) Future (a) | 4 | 2/28/19 | 54 | — | ||||||||||||
Wheat (CBT) Future (a) | 2 | 3/14/19 | 50 | (1 | ) | |||||||||||
Zinc Future (a) | 1 | 6/17/19 | 61 | 1 | ||||||||||||
|
|
|
| |||||||||||||
$ | 295,255 | $ | (910 | ) | ||||||||||||
|
|
|
|
Futures Contracts Sold^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
Brent Crude Future (a) | 2 | 10/30/20 | $ | 113 | $ | 22 | ||||||||
Live Cattle Future (a) | 1 | 4/30/19 | 51 | (3 | ) | |||||||||
Natural Gas Future (a) | 6 | 9/26/19 | 164 | (2 | ) | |||||||||
Wheat (CBT) Future (a) | 1 | 7/12/19 | 26 | 4 | ||||||||||
|
|
|
| |||||||||||
$ | 354 | $ | 21 | |||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | 1,089 | |||||||||||
Total Unrealized Depreciation |
| (1,978 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (889 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Forward Currency Contracts
Short Contracts
Description and amount of currency to be purchased (000) | Description and amount of currency to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||
U.S. Dollar | 3,909 | Japanese Yen | 434,449 | State Street Corporation | 1/7/19 | $ | (58 | ) | ||||||||||
U.S. Dollar | 283 | Japanese Yen | 31,234 | Merrill Lynch | 1/7/19 | (2 | ) | |||||||||||
U.S. Dollar | 1,491 | Japanese Yen | 164,905 | HSBC | 1/8/19 | (14 | ) | |||||||||||
U.S. Dollar | 158 | Russian Ruble | 10,983 | UBS Warburg | 1/4/19 | — | ||||||||||||
U.S. Dollar | 60 | Russian Ruble | 4,189 | UBS Warburg | 1/8/19 | — | ||||||||||||
|
| |||||||||||||||||
$ | (74 | ) | ||||||||||||||||
|
| |||||||||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||||||
Total Unrealized Depreciation |
| (74 | ) | |||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (74 | ) | ||||||||||||||
|
|
See accompanying notes to financial statements.
80
Table of Contents
HC CAPITAL TRUST
The Commodity Returns Strategy Portfolio
Consolidated Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Option Contracts
Exchange-traded options purchased as of December 31, 2018 were as follows:
Description | Number of Contracts | Notional Amount (000) | Exercise Price | Expiration Date | Value (000) | |||||||||||||||
Crude Oil Call Option (a) | 1 | $ | — | $ | 75.00 | 4/25/19 | $ | — | ||||||||||||
|
| |||||||||||||||||||
Total | $ | — | ||||||||||||||||||
|
|
Total Return Swap Agreements
Pay/ Receive(b) | Financing Rate | Description | Counterparty | Expiration Date | Payment Frequency | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||||||
Receive | 0.12 | % | Bloomberg Silver Subindex (a) | Goldman Sachs International | 4/30/19 | Monthly | $ | 96 | $ | 9 | $ | — | $ | 9 | ||||||||||||||||||
Receive | 0.35 | % | Bloomberg Soybean Meal Index (a) | Barclays Bank PLC | 2/28/19 | Monthly | 48 | (1 | ) | — | (1 | ) | ||||||||||||||||||||
Receive | 0.15 | % | S&P GSCI Grains Index (a) | Barclays Bank PLC | 2/28/19 | Monthly | 5 | — | — | — | ||||||||||||||||||||||
Receive | 0.10 | % | S&P GSCI Grains Index (a) | Goldman Sachs International | 5/31/19 | Monthly | 86 | (4 | ) | — | (4 | ) | ||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 4 | $ | — | $ | 4 | |||||||||||||||||||||||||||
|
|
|
|
|
|
Commodity Forward Swap Agreements
Pay/ Receive(b) | Underlying | Counterparty | Expiration Date | Exercise Price | Notional Amount (000) | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||||||||
Receive | Gold (a) | Goldman Sachs International | 1/31/19 | $ | 1,236.53 | $ | 14 | $ | 1 | $ | — | $ | 1 | |||||||||||||||||
Receive | Silver (a) | Goldman Sachs International | 5/31/19 | 14.53 | 31 | 3 | $ | — | 3 | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
$ | 4 | $ | — | $ | 4 | |||||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||
Total swap agreements at value (assets) | $ | 13 | ||||||||||||||||||||||||||||
Total swap agreements at value (liabilities) | (5 | ) | ||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Net swap agreements at value | $ | 8 | ||||||||||||||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | All or a portion of these investments are held by the wholly-owned subsidiaries of the Portfolio. See Note 2.O. in the Notes to Financial Statements. |
(b) | Receive represents that the Portfolio receives payments for any positive return on the underlying reference. The Portfolio makes payments for any negative return on such underlying reference. Pay represents that the Portfolio receives payments for any negative return on the underlying reference. The Portfolio makes payments for any positive return on such underlying reference. |
See accompanying notes to financial statements.
81
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 97.96% | ||||||||
Australia — 5.11% |
| |||||||
826,000 | Alumina Ltd. (Metals & Mining) | $ | 1,338 | |||||
43,956 | Aurizon Holdings Ltd. (Road & Rail) | 133 | ||||||
25,873 | Australia & New Zealand Banking Group Ltd. (Banks) | 447 | ||||||
4,207 | Bendigo & Adelaide Bank Ltd. (Banks) | 32 | ||||||
51,361 | BHP Group PLC (Metals & Mining) | 1,085 | ||||||
13,469 | Coca-Cola Amatil Ltd. (Beverages) | 78 | ||||||
15,371 | Commonwealth Bank of Australia (Banks) | 784 | ||||||
9,186 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 77 | ||||||
14,367 | Harvey Norman Holdings Ltd. (Multiline Retail) | 32 | ||||||
1,859 | Macquarie Group Ltd. (Capital Markets) | 142 | ||||||
23,301 | National Australia Bank Ltd. (Banks) | 395 | ||||||
639,982 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 1,284 | ||||||
16,784 | Wesfarmers Ltd. (Food & Staples Retailing) | 381 | ||||||
29,399 | Westpac Banking Corp. (Banks) | 519 | ||||||
|
| |||||||
6,727 | ||||||||
|
| |||||||
Austria — 0.04% |
| |||||||
762 | OMV AG (Oil, Gas & Consumable Fuels) | 33 | ||||||
561 | Voestalpine AG (Metals & Mining) | 17 | ||||||
|
| |||||||
50 | ||||||||
|
| |||||||
Belgium — 0.02% |
| |||||||
917 | Belgacom SA (Diversified Telecommunication Services) | 25 | ||||||
|
| |||||||
Canada — 0.90% |
| |||||||
14,300 | Canadian Imperial Bank of Commerce (Banks) | 1,065 | ||||||
942 | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | 115 | ||||||
|
| |||||||
1,180 | ||||||||
|
| |||||||
Denmark — 0.07% |
| |||||||
2,647 | ISS A/S (Commercial Services & Supplies) | 74 | ||||||
685 | Tryg A/S (Insurance) | 17 | ||||||
|
| |||||||
91 | ||||||||
|
| |||||||
Finland — 0.18% |
| |||||||
3,009 | Elisa Oyj (Diversified Telecommunication Services) | 125 | ||||||
4,041 | Metso Oyj (Machinery) | 106 | ||||||
|
| |||||||
231 | ||||||||
|
| |||||||
France — 5.04% |
| |||||||
1,619 | Atos SE (IT Services) | 133 | ||||||
13,451 | AXA SA (Insurance) | 291 | ||||||
7,681 | BNP Paribas (Banks) | 347 | ||||||
3,987 | Bouygues SA (Construction & Engineering) | 143 | ||||||
10,246 | Carrefour SA (Food & Staples Retailing) | 175 | ||||||
1,087 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 45 | ||||||
1,243 | CNP Assurances (Insurance) | 26 | ||||||
7,987 | Credit Agricole SA (Banks) | 86 | ||||||
85,600 | Electricite de France SA (Electric Utilities) | 1,355 | ||||||
16,308 | ENGIE (Multi-Utilities) | 234 | ||||||
3,176 | Eutelsat Communications (Media) | 63 | ||||||
18,336 | Orange SA (Diversified Telecommunication Services) | 297 | ||||||
3,534 | Publicis Groupe (Media) | 201 |
Shares | Security Description | Value (000) | ||||||
France (continued) |
| |||||||
9,746 | Schneider Electric SA (Electrical Equipment) | $ | 661 | |||||
493 | Societe BIC SA (Commercial Services & Supplies) | 50 | ||||||
34,591 | Societe Generale (Banks) | 1,097 | ||||||
3,431 | Suez Environnement Co. (Multi-Utilities) | 45 | ||||||
24,480 | Total SA (Oil, Gas & Consumable Fuels) | 1,291 | ||||||
4,377 | Veolia Environnement (Multi-Utilities) | 90 | ||||||
|
| |||||||
6,630 | ||||||||
|
| |||||||
Germany — 2.63% |
| |||||||
8,098 | Allianz SE (Insurance) | 1,627 | ||||||
10,682 | Deutsche Post AG (Air Freight & Logistics) | 292 | ||||||
18,305 | Deutsche Telekom AG (Diversified Telecommunication Services) | 311 | ||||||
1,884 | Evonik Industries AG (Chemicals) | 47 | ||||||
711 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 44 | ||||||
1,910 | Metro AG (Food & Staples Retailing) | 29 | ||||||
648 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 141 | ||||||
47,929 | ProSiebenSat.1 Media AG (Media) | 853 | ||||||
8,361 | TUI AG (Hotels, Restaurants & Leisure) | 120 | ||||||
|
| |||||||
3,464 | ||||||||
|
| |||||||
Hong Kong — 0.23% |
| |||||||
22,000 | CLP Holdings Ltd. (Electric Utilities) | 248 | ||||||
1,495 | Michael Kors Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | 57 | ||||||
|
| |||||||
305 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.16% |
| |||||||
6,490 | CRH PLC (Construction Materials) | 172 | ||||||
488 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 40 | ||||||
|
| |||||||
212 | ||||||||
|
| |||||||
Israel — 0.08% |
| |||||||
13,726 | Bank Hapoalim Ltd. (Banks) | 86 | ||||||
804 | Mizrahi Tefahot Bank Ltd. (Banks) | 14 | ||||||
|
| |||||||
100 | ||||||||
|
| |||||||
Italy — 0.70% |
| |||||||
4,621 | Assicurazioni Generali SpA (Insurance) | 77 | ||||||
34,828 | Enel SpA (Electric Utilities) | 202 | ||||||
26,568 | Eni SpA (Oil, Gas & Consumable Fuels) | 420 | ||||||
52,898 | Intesa Sanpaolo SpA (Banks) | 118 | ||||||
24,914 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 109 | ||||||
|
| |||||||
926 | ||||||||
|
| |||||||
Japan — 9.18% |
| |||||||
300 | AEON Credit Service Co. Ltd. (Consumer Finance) | 5 | ||||||
19,700 | Asahi Kasei Corp. (Chemicals) | 202 | ||||||
50,000 | Astellas Pharma, Inc. (Pharmaceuticals) | 639 | ||||||
4,400 | Daicel Corp. (Chemicals) | 45 | ||||||
7,900 | Denso Corp. (Auto Components) | 350 | ||||||
4,100 | Eisai Co. Ltd. (Pharmaceuticals) | 317 | ||||||
6,300 | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | 245 | ||||||
3,100 | Fujitsu Ltd. (IT Services) | 194 |
See accompanying notes to financial statements.
82
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) |
| |||||||
4,100 | Hino Motors Ltd. (Machinery) | $ | 39 | |||||
1,600 | Hitachi Chemical Co. Ltd. (Chemicals) | 24 | ||||||
26,900 | Honda Motor Co. Ltd. (Automobiles) | 709 | ||||||
4,200 | JS Group Corp. (Building Products) | 52 | ||||||
54,050 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 281 | ||||||
7,300 | Kajima Corp. (Construction & Engineering) | 98 | ||||||
15,000 | KDDI Corp. (Wireless Telecommunication Services) | 358 | ||||||
7,700 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 69 | ||||||
5,800 | Mebuki Financial Group, Inc. (Banks) | 15 | ||||||
22,800 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 172 | ||||||
36,600 | Mitsubishi Heavy Industries Ltd. (Machinery) | 1,313 | ||||||
1,500 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 7 | ||||||
27,200 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 418 | ||||||
2,900 | Mitsui Chemicals, Inc. (Chemicals) | 65 | ||||||
150,200 | Mizuho Financial Group, Inc. (Banks) | 232 | ||||||
3,000 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 85 | ||||||
4,000 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 119 | ||||||
4,100 | NGK Insulators Ltd. (Machinery) | 56 | ||||||
1,500 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 37 | ||||||
5,400 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 220 | ||||||
2,000 | Nomura Research Institute Ltd. (IT Services) | 74 | ||||||
9,900 | NTT Data Corp. (IT Services) | 108 | ||||||
11,300 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 254 | ||||||
10,400 | Obayashi Corp. (Construction & Engineering) | 94 | ||||||
5,400 | ORIX Corp. (Diversified Financial Services) | 79 | ||||||
3,100 | Osaka Gas Co. Ltd. (Gas Utilities) | 57 | ||||||
13,500 | Resona Holdings, Inc. (Banks) | 65 | ||||||
800 | Sankyo Co. Ltd. (Leisure Products) | 30 | ||||||
2,100 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 71 | ||||||
31,300 | Sony Corp. (Household Durables) | 1,509 | ||||||
264,700 | Sumitomo Chemical Co. Ltd. (Chemicals) | 1,282 | ||||||
8,200 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 271 | ||||||
2,100 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 76 | ||||||
2,900 | Sumitomo Rubber Industries Ltd. (Auto Components) | 34 | ||||||
3,500 | T&D Holdings, Inc. (Insurance) | 40 | ||||||
11,800 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 400 | ||||||
3,300 | Teijin Ltd. (Chemicals) | 53 | ||||||
6,500 | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | 101 | ||||||
4,300 | The Shizuoka Bank Ltd. (Banks) | 34 | ||||||
4,200 | Tokio Marine Holdings, Inc. (Insurance) | 201 | ||||||
2,700 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 304 | ||||||
3,100 | Tokyo Gas Co. Ltd. (Gas Utilities) | 78 | ||||||
4,300 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 63 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
1,200 | Toyoda Gosei Co. Ltd. (Auto Components) | $ | 24 | |||||
3,500 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 103 | ||||||
3,500 | USS Co. Ltd. (Specialty Retail) | 59 | ||||||
2,600 | West Japan Railway Co. (Road & Rail) | 184 | ||||||
3,600 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 62 | ||||||
|
| |||||||
12,076 | ||||||||
|
| |||||||
Jersey — 0.22% |
| |||||||
27,242 | WPP PLC (Media) | 296 | ||||||
|
| |||||||
Luxembourg — 0.12% |
| |||||||
924 | Millicom International Cellular SA (Wireless Telecommunication Services) | 58 | ||||||
5,486 | SES – FDR, Class – A (Media) | 106 | ||||||
|
| |||||||
164 | ||||||||
|
| |||||||
Netherlands — 1.52% |
| |||||||
6,635 | AEGON N.V. (Insurance) | 31 | ||||||
18,948 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 55 | ||||||
56,600 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 1,431 | ||||||
9,878 | Koninklijke Philips Electronics N.V. (Health Care Equipment & Supplies) | 346 | ||||||
754 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 34 | ||||||
1,213 | NN Group N.V. (Insurance) | 48 | ||||||
1,271 | Randstad Holding N.V. (Professional Services) | 58 | ||||||
|
| |||||||
2,003 | ||||||||
|
| |||||||
New Zealand — 0.08% |
| |||||||
12,076 | Fletcher Building Ltd. (Construction Materials) (a) | 40 | ||||||
22,117 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 61 | ||||||
|
| |||||||
101 | ||||||||
|
| |||||||
Norway — 1.21% |
| |||||||
63,978 | Equinor ASA (Oil, Gas & Consumable Fuels) | 1,358 | ||||||
5,954 | Marine Harvest ASA (Food Products) | 126 | ||||||
5,272 | Telenor ASA (Diversified Telecommunication Services) | 102 | ||||||
|
| |||||||
1,586 | ||||||||
|
| |||||||
Singapore — 0.39% |
| |||||||
11,000 | Singapore Exchange Ltd. (Capital Markets) | 58 | ||||||
51,100 | Singapore Tech Engineering (Aerospace & Defense) | 131 | ||||||
152,600 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 328 | ||||||
|
| |||||||
517 | ||||||||
|
| |||||||
Spain — 2.09% |
| |||||||
42,759 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 227 | ||||||
6,670 | Corporacion Mapfre (Insurance) | 18 | ||||||
3,893 | Enagas (Oil, Gas & Consumable Fuels) | 105 | ||||||
2,835 | Endesa (Electric Utilities) | 65 | ||||||
3,110 | Gas Natural SDG SA (Gas Utilities) | 79 | ||||||
188,193 | Iberdrola SA (Electric Utilities) | 1,511 | ||||||
3,884 | Red Electrica Corp. (Electric Utilities) | 87 | ||||||
20,633 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 332 |
See accompanying notes to financial statements.
83
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Spain (continued) |
| |||||||
38,921 | Telefonica SA (Diversified Telecommunication Services) | $ | 328 | |||||
|
| |||||||
2,752 | ||||||||
|
| |||||||
Sweden — 1.29% |
| |||||||
47,600 | Boliden AB (Metals & Mining) | 1,032 | ||||||
2,221 | ICA Gruppen AB (Food & Staples Retailing) | 79 | ||||||
15,138 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 147 | ||||||
9,009 | Swedbank AB, A Shares (Banks) | 202 | ||||||
4,997 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 64 | ||||||
37,124 | TeliaSonera AB (Diversified Telecommunication Services) | 177 | ||||||
|
| |||||||
1,701 | ||||||||
|
| |||||||
Switzerland — 3.77% |
| |||||||
3,946 | Adecco SA, Registered Shares (Professional Services) | 186 | ||||||
13,500 | Ferguson PLC (Trading Companies & Distributors) | 862 | ||||||
20,208 | Garmin Ltd. (Household Durables) | 1,280 | ||||||
7,120 | Roche Holding AG (Pharmaceuticals) | 1,768 | ||||||
132 | SGS SA, Registered Shares (Professional Services) | 297 | ||||||
318 | Swisscom AG (Diversified Telecommunication Services) | 152 | ||||||
1,391 | Zurich Financial Services AG (Insurance) | 415 | ||||||
|
| |||||||
4,960 | ||||||||
|
| |||||||
United Kingdom — 6.29% |
| |||||||
64,700 | Anglo American PLC (Metals & Mining) | 1,447 | ||||||
33,821 | Aviva PLC (Insurance) | 162 | ||||||
5,762 | Babcock International Group PLC (Commercial Services & Supplies) | 36 | ||||||
23,142 | Barratt Developments PLC (Household Durables) | 136 | ||||||
95,144 | BT Group PLC (Diversified Telecommunication Services) | 289 | ||||||
61,571 | Centrica PLC (Multi-Utilities) | 106 | ||||||
12,072 | Direct Line Insurance Group PLC (Insurance) | 49 | ||||||
79,200 | easyJet PLC (Airlines) | 1,116 | ||||||
3,735 | Investec PLC (Capital Markets) | 21 | ||||||
92,909 | ITV PLC (Media) | 148 | ||||||
35,652 | J Sainsbury PLC (Food & Staples Retailing) | 121 | ||||||
49,983 | Legal & General Group PLC (Insurance) | 147 | ||||||
2,416 | Linde PLC (Chemicals) | 377 | ||||||
35,945 | Marks & Spencer Group PLC (Multiline Retail) | 113 | ||||||
15,606 | National Grid PLC (Multi-Utilities) | 153 | ||||||
3,274 | Next PLC (Multiline Retail) | 166 | ||||||
17,939 | Pearson PLC (Media) | 215 | ||||||
6,588 | Persimmon PLC (Household Durables) | 162 | ||||||
30,445 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 896 | ||||||
19,858 | Royal Mail PLC (Air Freight & Logistics) | 69 | ||||||
2,819 | Severn Trent PLC (Water Utilities) | 65 | ||||||
16,495 | Standard Life Aberdeen PLC (Diversified Financial Services) | 54 | ||||||
75,001 | Taylor Wimpey PLC (Household Durables) | 130 | ||||||
32,266 | TechnipFMC PLC (Energy Equipment & Services) | 632 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) |
| |||||||
31,500 | The Berkeley Group Holdings PLC (Household Durables) | $ | 1,397 | |||||
8,039 | United Utilities Group PLC (Water Utilities) | 76 | ||||||
|
| |||||||
8,283 | ||||||||
|
| |||||||
United States — 56.64% |
| |||||||
10,885 | Accenture PLC, Class – A (IT Services) | 1,535 | ||||||
610 | Advance Auto Parts, Inc. (Specialty Retail) | 96 | ||||||
1,774 | Air Products & Chemicals, Inc. (Chemicals) | 284 | ||||||
1,536 | Akamai Technologies, Inc. (IT Services) (a) | 94 | ||||||
1,621 | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | 1,694 | ||||||
900 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | 1,352 | ||||||
4,086 | American Electric Power, Inc. (Electric Utilities) | 305 | ||||||
6,100 | American Express Co. (Consumer Finance) | 581 | ||||||
6,509 | Amgen, Inc. (Biotechnology) | 1,267 | ||||||
3,088 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 265 | ||||||
16,416 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 2,590 | ||||||
1,969 | Autodesk, Inc. (Software) (a) | 253 | ||||||
4,035 | Automatic Data Processing, Inc. (IT Services) | 529 | ||||||
20,259 | Best Buy Co., Inc. (Specialty Retail) | 1,072 | ||||||
3,300 | BlackRock, Inc., Class – A (Capital Markets) | 1,296 | ||||||
992 | Broadridge Financial Solutions, Inc. (IT Services) | 95 | ||||||
1,228 | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | 103 | ||||||
1,501 | Campbell Soup Co. (Food Products) | 50 | ||||||
25,418 | Cardinal Health, Inc. (Health Care Providers & Services) | 1,134 | ||||||
2,528 | Cerner Corp. (Health Care Technology) (a) | 133 | ||||||
41,682 | Cisco Systems, Inc. (Communications Equipment) | 1,807 | ||||||
2,690 | Citizens Financial Group, Inc. (Banks) | 80 | ||||||
1,365 | Citrix Systems, Inc. (Software) | 140 | ||||||
2,789 | CME Group, Inc. (Capital Markets) | 525 | ||||||
5,211 | Cognizant Technology Solutions Corp. (IT Services) | 331 | ||||||
7,772 | Colgate-Palmolive Co. (Household Products) | 463 | ||||||
21,900 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 1,366 | ||||||
1,960 | Copart, Inc. (Commercial Services & Supplies) (a) | 94 | ||||||
8,432 | CSX Corp. (Road & Rail) | 524 | ||||||
1,517 | Cummins, Inc. (Machinery) | 202 | ||||||
1,521 | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | 78 | ||||||
25,500 | Delta Air Lines, Inc. (Airlines) | 1,272 | ||||||
1,361 | Dover Corp. (Machinery) | 97 | ||||||
2,141 | Ecolab, Inc. (Chemicals) | 315 | ||||||
8,421 | Eli Lilly & Co. (Pharmaceuticals) | 974 | ||||||
21,900 | Exelon Corp. (Electric Utilities) | 989 | ||||||
1,565 | Expeditors International of Washington, Inc. (Air Freight & Logistics) | 107 | ||||||
14,848 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 1,012 | ||||||
614 | F5 Networks, Inc. (Communications Equipment) (a) | 99 | ||||||
1,100 | Facebook, Inc., Class – A (Interactive Media & Services) (a) | 144 |
See accompanying notes to financial statements.
84
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) |
| |||||||
1,185 | First Republic Bank (Banks) | $ | 103 | |||||
1,117 | FLIR Systems, Inc. (Electronic Equipment, Instruments & Components) | 49 | ||||||
1,101 | Fluor Corp. (Construction & Engineering) | 35 | ||||||
3,287 | Franklin Resources, Inc. (Capital Markets) | 97 | ||||||
1,930 | Gap, Inc. (Specialty Retail) | 50 | ||||||
5,080 | General Mills, Inc. (Food Products) | 198 | ||||||
1,287 | Genuine Parts Co. (Distributors) | 124 | ||||||
24,800 | Gilead Sciences, Inc. (Biotechnology) | 1,551 | ||||||
51,700 | H&R Block, Inc. (Diversified Consumer Services) | 1,312 | ||||||
1,007 | Harris Corp. (Aerospace & Defense) | 136 | ||||||
8,800 | HCA Holdings, Inc. (Health Care Providers & Services) | 1,095 | ||||||
1,444 | Henry Schein, Inc. (Health Care Providers & Services) (a) | 113 | ||||||
1,227 | Hershey Co. (Food Products) | 132 | ||||||
2,215 | Hormel Foods Corp. (Food Products) | 95 | ||||||
48,200 | HP, Inc. (Technology Hardware, Storage & Peripherals) | 986 | ||||||
632 | IDEX Corp. (Machinery) | 80 | ||||||
830 | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | 155 | ||||||
32,124 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 1,508 | ||||||
7,778 | International Business Machines Corp. (IT Services) | 884 | ||||||
2,259 | Intuit, Inc. (Software) | 445 | ||||||
11,433 | Johnson & Johnson (Pharmaceuticals) | 1,475 | ||||||
41,800 | Johnson Controls International PLC (Building Products) | 1,239 | ||||||
21,300 | Kellogg Co. (Food Products) | 1,214 | ||||||
3,122 | Kimberly-Clark Corp. (Household Products) | 356 | ||||||
12,400 | Kohl’s Corp. (Multiline Retail) | 823 | ||||||
883 | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | 112 | ||||||
31,700 | Macy’s, Inc. (Multiline Retail) | 944 | ||||||
4,598 | Marsh & McLennan Companies, Inc. (Insurance) | 367 | ||||||
8,594 | MasterCard, Inc., Class – A (IT Services) | 1,621 | ||||||
1,052 | McCormick & Company, Inc. (Food Products) | 146 | ||||||
21,998 | Merck & Co., Inc. (Pharmaceuticals) | 1,682 | ||||||
268 | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | 152 | ||||||
23,221 | Microsoft Corp. (Software) | 2,359 | ||||||
3,286 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 84 | ||||||
2,900 | NextEra Energy, Inc. (Electric Utilities) | 504 | ||||||
11,656 | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | 864 | ||||||
26,299 | Nordstrom, Inc. (Multiline Retail) | 1,225 | ||||||
2,708 | Norfolk Southern Corp. (Road & Rail) | 405 | ||||||
6,562 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 403 | ||||||
27,250 | Oracle Corp. (Software) | 1,230 | ||||||
2,670 | Paychex, Inc. (IT Services) | 174 | ||||||
12,654 | PepsiCo, Inc. (Beverages) | 1,398 | ||||||
4,641 | Phillips 66 (Oil, Gas & Consumable Fuels) | 400 | ||||||
1,200 | Quest Diagnostics, Inc. (Health Care Providers & Services) | 100 |
Shares | Security Description | Value (000) | ||||||
United States (continued) |
| |||||||
2,627 | Raytheon Co. (Aerospace & Defense) | $ | 403 | |||||
1,171 | ResMed, Inc. (Health Care Equipment & Supplies) | 133 | ||||||
1,062 | Robert Half International, Inc. (Professional Services) | 61 | ||||||
3,349 | Ross Stores, Inc. (Specialty Retail) | 279 | ||||||
2,234 | S&P Global, Inc. (Capital Markets) | 380 | ||||||
4,200 | SBA Communications Corp. (Equity Real Estate Investment Trusts) (a) | 680 | ||||||
10,900 | Schlumberger Ltd. (Energy Equipment & Services) | 394 | ||||||
15,000 | Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | 1,005 | ||||||
460 | Snap-on, Inc. (Machinery) | 67 | ||||||
16,800 | State Street Corp. (Capital Markets) | 1,060 | ||||||
4,982 | Sysco Corp. (Food & Staples Retailing) | 312 | ||||||
14,713 | T. Rowe Price Group, Inc. (Capital Markets) | 1,358 | ||||||
2,298 | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | 78 | ||||||
2,236 | TD Ameritrade Holding Corp. (Capital Markets) | 109 | ||||||
8,929 | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | 844 | ||||||
90,000 | The AES Corp. (Independent Power and Renewable Electricity Producers) | 1,301 | ||||||
1,733 | The Estee Lauder Companies, Inc., Class – A (Personal Products) | 225 | ||||||
968 | The J.M. Smucker Co. (Food Products) | 90 | ||||||
8,206 | The Kroger Co. (Food & Staples Retailing) | 226 | ||||||
15,606 | The Procter & Gamble Co. (Household Products) | 1,434 | ||||||
21,700 | The Progressive Corp. (Insurance) | 1,309 | ||||||
685 | The Sherwin-Williams Co. (Chemicals) | 270 | ||||||
7,741 | The Southern Co. (Electric Utilities) | 340 | ||||||
12,726 | The Walt Disney Co. (Entertainment) | 1,395 | ||||||
11,423 | Tiffany & Co. (Specialty Retail) | 920 | ||||||
1,136 | Tractor Supply Co. (Specialty Retail) | 95 | ||||||
524 | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | 128 | ||||||
1,478 | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods) (a) | 26 | ||||||
1,487 | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | 24 | ||||||
7,599 | Union Pacific Corp. (Road & Rail) | 1,050 | ||||||
7,158 | United Technologies Corp. (Aerospace & Defense) | 762 | ||||||
884 | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | 100 | ||||||
15,801 | Visa, Inc., Class – A (IT Services) | 2,084 | ||||||
667 | VMware, Inc., Class – A (Software) | 91 | ||||||
4,308 | W.W. Grainger, Inc. (Trading Companies & Distributors) | 1,216 | ||||||
710 | Waters Corp. (Life Sciences Tools & Services) (a) | 134 | ||||||
4,350 | Western Union Co. (IT Services) | 74 | ||||||
4,089 | Xcel Energy, Inc. (Electric Utilities) | 201 | ||||||
1,487 | Xylem, Inc. (Machinery) | 99 | ||||||
|
| |||||||
74,529 | ||||||||
|
| |||||||
Total Common Stocks | 128,909 | |||||||
|
|
See accompanying notes to financial statements.
85
Table of Contents
HC CAPITAL TRUST
The ESG Growth Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Right — 0.01% | ||||||||
Spain — 0.01% |
| |||||||
20,633 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | $ | 9 | |||||
|
| |||||||
Total Right | 9 | |||||||
|
| |||||||
Investment Company — 1.42% | ||||||||
1,864,251 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (b) | 1,864 | ||||||
|
| |||||||
Total Investment Company | 1,864 | |||||||
|
| |||||||
Total Investments | 130,782 | |||||||
Other assets in excess of | 806 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 131,588 | ||||||
|
|
(a) | Representsnon-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
FDR — Fiduciary Depositary Receipt
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The ESG Growth Portfolio | Mellon Investments Corporation* | Parametric Portfolio Associates, LLC | Total | |||||||||
Common Stocks | 97.96 | % | — | 97.96 | % | |||||||
Right | 0.01 | % | — | 0.01 | % | |||||||
Investment Company | 1.13 | % | 0.29 | % | 1.42 | % | ||||||
Other Assets (Liabilities) | 0.17 | % | 0.44 | % | 0.61 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 99.27 | % | 0.73 | % | 100.00 | % | ||||||
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
E-Mini S&P 500 Future | 2 | 3/15/19 | $ | 250 | $ | (14 | ) | |||||||
MSCI EAFE Index Future | 2 | 3/15/19 | 172 | (2 | ) | |||||||||
|
|
|
| |||||||||||
$ | 422 | $ | (16 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (16 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (16 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
86
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 99.30% | ||||||||
Australia — 4.34% |
| |||||||
266,917 | Alumina Ltd. (Metals & Mining) | $ | 432 | |||||
9,114 | Aurizon Holdings Ltd. (Road & Rail) | 27 | ||||||
5,414 | Australia & New Zealand Banking Group Ltd. (Banks) | 94 | ||||||
863 | Bendigo & Adelaide Bank Ltd. (Banks) | 7 | ||||||
44,795 | Brambles Ltd. (Commercial Services & Supplies) | 320 | ||||||
2,747 | Coca-Cola Amatil Ltd. (Beverages) | 16 | ||||||
3,236 | Commonwealth Bank of Australia (Banks) | 165 | ||||||
1,897 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 16 | ||||||
2,364 | Dexus Property Group (Equity Real Estate Investment Trusts) | 18 | ||||||
4,256 | GPT Group (Equity Real Estate Investment Trusts) | 16 | ||||||
2,647 | Harvey Norman Holdings Ltd. (Multiline Retail) | 6 | ||||||
389 | Macquarie Group Ltd. (Capital Markets) | 30 | ||||||
8,871 | Mirvac Group (Equity Real Estate Investment Trusts) | 14 | ||||||
4,911 | National Australia Bank Ltd. (Banks) | 83 | ||||||
5,761 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 14 | ||||||
203,547 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 408 | ||||||
8,161 | Vicinity Centres (Equity Real Estate Investment Trusts) | 15 | ||||||
6,199 | Westpac Banking Corp. (Banks) | 110 | ||||||
|
| |||||||
1,791 | ||||||||
|
| |||||||
Austria — 0.93% |
| |||||||
8,676 | OMV AG (Oil, Gas & Consumable Fuels) | 379 | ||||||
123 | Voestalpine AG (Metals & Mining) | 4 | ||||||
|
| |||||||
383 | ||||||||
|
| |||||||
Belgium — 0.26% |
| |||||||
1,510 | Anheuser-Busch InBev N.V. (Beverages) | 100 | ||||||
228 | Belgacom SA (Diversified Telecommunication Services) | 6 | ||||||
|
| |||||||
106 | ||||||||
|
| |||||||
Canada — 1.19% |
| |||||||
44,800 | ARC Resources Ltd. (Oil, Gas & Consumable Fuels) | 266 | ||||||
2,600 | Canadian Imperial Bank of Commerce (Banks) | 194 | ||||||
255 | Lululemon Athletica, Inc. (Textiles, Apparel & Luxury Goods) (a) | 31 | ||||||
|
| |||||||
491 | ||||||||
|
| |||||||
Denmark — 0.21% |
| |||||||
1,836 | ISS A/S (Commercial Services & Supplies) | 52 | ||||||
1,435 | Tryg A/S (Insurance) | 36 | ||||||
|
| |||||||
88 | ||||||||
|
| |||||||
Finland — 0.22% |
| |||||||
771 | Elisa Oyj (Diversified Telecommunication Services) | 32 | ||||||
974 | Metso Oyj (Machinery) | 26 | ||||||
1,054 | Nokian Renkaat Oyj (Auto Components) | 32 | ||||||
|
| |||||||
90 | ||||||||
|
| |||||||
France — 5.88% |
| |||||||
415 | Atos SE (IT Services) | 34 |
Shares | Security Description | Value (000) | ||||||
France (continued) | ||||||||
3,386 | AXA SA (Insurance) | $ | 73 | |||||
1,953 | BNP Paribas (Banks) | 88 | ||||||
1,037 | Bouygues SA (Construction & Engineering) | 37 | ||||||
2,598 | Carrefour SA (Food & Staples Retailing) | 45 | ||||||
270 | Casino Guichard-Perrachon SA (Food & Staples Retailing) | 11 | ||||||
315 | CNP Assurances (Insurance) | 7 | ||||||
2,090 | Credit Agricole SA (Banks) | 22 | ||||||
27,623 | Electricite de France SA (Electric Utilities) | 437 | ||||||
4,081 | ENGIE (Multi-Utilities) | 59 | ||||||
12,730 | Eutelsat Communications (Media) | 250 | ||||||
84 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 8 | ||||||
116 | Gecina SA (Equity Real Estate Investment Trusts) | 15 | ||||||
88 | Icade (Equity Real Estate Investment Trusts) | 7 | ||||||
534 | Klepierre (Equity Real Estate Investment Trusts) | 16 | ||||||
4,783 | Orange SA (Diversified Telecommunication Services) | 78 | ||||||
886 | Publicis Groupe (Media) | 51 | ||||||
2,463 | Schneider Electric SA (Electrical Equipment) | 167 | ||||||
2,894 | Societe BIC SA (Commercial Services & Supplies) | 296 | ||||||
12,917 | Societe Generale (Banks) | 410 | ||||||
846 | Suez Environnement Co. (Multi-Utilities) | 11 | ||||||
5,407 | Total SA (Oil, Gas & Consumable Fuels) | 285 | ||||||
1,129 | Veolia Environnement (Multi-Utilities) | 23 | ||||||
|
| |||||||
2,430 | ||||||||
|
| |||||||
Germany — 2.29% |
| |||||||
2,518 | Allianz SE (Insurance) | 505 | ||||||
2,813 | Deutsche Post AG (Air Freight & Logistics) | 77 | ||||||
4,856 | Deutsche Telekom AG (Diversified Telecommunication Services) | 83 | ||||||
468 | Evonik Industries AG (Chemicals) | 12 | ||||||
184 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 11 | ||||||
510 | Metro AG (Food & Staples Retailing) | 8 | ||||||
167 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 36 | ||||||
10,338 | ProSiebenSat.1 Media AG (Media) | 184 | ||||||
1,928 | TUI AG (Hotels, Restaurants & Leisure) | 28 | ||||||
|
| |||||||
944 | ||||||||
|
| |||||||
Hong Kong — 0.26% |
| |||||||
4,540 | CLP Holdings Ltd. (Electric Utilities) | 51 | ||||||
7,043 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 13 | ||||||
2,000 | Hysan Development Co. (Real Estate Management & Development) | 10 | ||||||
416 | Michael Kors Holdings Ltd. (Textiles, Apparel & Luxury Goods) (a) | 16 | ||||||
3,200 | Swire Properties Ltd. (Real Estate Management & Development) | 11 | ||||||
3,000 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 8 | ||||||
|
| |||||||
109 | ||||||||
|
| |||||||
Ireland (Republic of) — 0.10% |
| |||||||
1,295 | CRH PLC (Construction Materials) | 34 |
See accompanying notes to financial statements.
87
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Ireland (Republic of) (continued) |
| |||||||
109 | Paddy Power PLC (Hotels, Restaurants & Leisure) | $ | 9 | |||||
|
| |||||||
43 | ||||||||
|
| |||||||
Israel — 0.30% |
| |||||||
115 | Azrieli Group (Real Estate Management & Development) | 6 | ||||||
2,725 | Bank Hapoalim Ltd. (Banks) | 17 | ||||||
17,935 | Israel Chemicals Ltd. (Chemicals) | 102 | ||||||
|
| |||||||
125 | ||||||||
|
| |||||||
Italy — 0.49% |
| |||||||
967 | Assicurazioni Generali SpA (Insurance) | 16 | ||||||
7,248 | Enel SpA (Electric Utilities) | 42 | ||||||
5,545 | Eni SpA (Oil, Gas & Consumable Fuels) | 87 | ||||||
11,025 | Intesa Sanpaolo SpA (Banks) | 25 | ||||||
5,158 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 23 | ||||||
1,584 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 9 | ||||||
|
| |||||||
202 | ||||||||
|
| |||||||
Japan — 7.66% |
| |||||||
110 | AEON Credit Service Co. Ltd. (Consumer Finance) | 2 | ||||||
1,000 | Daicel Corp. (Chemicals) | 10 | ||||||
2,036 | Denso Corp. (Auto Components) | 90 | ||||||
300 | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | 7 | ||||||
1,500 | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | 58 | ||||||
721 | Fujitsu Ltd. (IT Services) | 45 | ||||||
1,000 | Hino Motors Ltd. (Machinery) | 9 | ||||||
400 | Hitachi Chemical Co. Ltd. (Chemicals) | 6 | ||||||
3,857 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 102 | ||||||
6,417 | Honda Motor Co. Ltd. (Automobiles) | 169 | ||||||
5,968 | ITOCHU Corp. (Trading Companies & Distributors) | 101 | ||||||
5 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 10 | ||||||
13,549 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 70 | ||||||
2,100 | Kajima Corp. (Construction & Engineering) | 28 | ||||||
3,596 | KDDI Corp. (Wireless Telecommunication Services) | 86 | ||||||
1,781 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 16 | ||||||
1,241 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 62 | ||||||
456 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 2 | ||||||
700 | Mitsui Chemicals, Inc. (Chemicals) | 16 | ||||||
36,731 | Mizuho Financial Group, Inc. (Banks) | 57 | ||||||
630 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 18 | ||||||
930 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 28 | ||||||
1,000 | NGK Insulators Ltd. (Machinery) | 14 | ||||||
28,800 | Nikon Corp. (Household Durables) | 428 | ||||||
402 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 10 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
4 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | $ | 8 | |||||
1,231 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 50 | ||||||
210 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 4 | ||||||
2,400 | NTT Data Corp. (IT Services) | 26 | ||||||
19,466 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 437 | ||||||
2,600 | Obayashi Corp. (Construction & Engineering) | 24 | ||||||
1,261 | ORIX Corp. (Diversified Financial Services) | 19 | ||||||
702 | Osaka Gas Co. Ltd. (Gas Utilities) | 13 | ||||||
3,230 | Resona Holdings, Inc. (Banks) | 15 | ||||||
200 | Sankyo Co. Ltd. (Leisure Products) | 8 | ||||||
9,810 | Sekisui House Ltd. (Household Durables) | 144 | ||||||
4,900 | Sony Corp. (Household Durables) | 236 | ||||||
7,800 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 257 | ||||||
523 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 19 | ||||||
600 | Sumitomo Rubber Industries Ltd. (Auto Components) | 7 | ||||||
862 | T&D Holdings, Inc. (Insurance) | 10 | ||||||
700 | Teijin Ltd. (Chemicals) | 11 | ||||||
1,486 | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | 23 | ||||||
1,020 | The Shizuoka Bank Ltd. (Banks) | 8 | ||||||
1,043 | Tokio Marine Holdings, Inc. (Insurance) | 50 | ||||||
800 | Tokyo Gas Co. Ltd. (Gas Utilities) | 20 | ||||||
1,000 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 15 | ||||||
300 | Toyoda Gosei Co. Ltd. (Auto Components) | 6 | ||||||
4,380 | Toyota Motor Corp. (Automobiles) | 254 | ||||||
812 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 24 | ||||||
825 | USS Co. Ltd. (Specialty Retail) | 14 | ||||||
900 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 16 | ||||||
|
| |||||||
3,162 | ||||||||
|
| |||||||
Jersey — 0.21% |
| |||||||
8,051 | WPP PLC (Media) | 88 | ||||||
|
| |||||||
Luxembourg — 0.03% |
| |||||||
184 | Millicom International Cellular SA (Wireless Telecommunication Services) | 12 | ||||||
|
| |||||||
Netherlands — 1.74% |
| |||||||
1,508 | AEGON N.V. (Insurance) | 7 | ||||||
2,156 | CNH Industrial N.V. (Machinery) | 19 | ||||||
56 | Franks International N.V. (Energy Equipment & Services) (a) | — | ||||||
3,931 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 11 | ||||||
17,695 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 448 | ||||||
5,751 | Koninklijke Philips Electronics N.V. (Health Care Equipment & Supplies) | 202 | ||||||
161 | Koninklijke Vopak N.V. (Oil, Gas & Consumable Fuels) | 7 | ||||||
271 | NN Group N.V. (Insurance) | 11 | ||||||
272 | Randstad Holding N.V. (Professional Services) | 12 | ||||||
|
| |||||||
717 | ||||||||
|
|
See accompanying notes to financial statements.
88
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
New Zealand — 0.05% |
| |||||||
2,425 | Fletcher Building Ltd. (Construction Materials) (a) | $ | 8 | |||||
4,427 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 12 | ||||||
|
| |||||||
20 | ||||||||
|
| |||||||
Norway — 1.08% |
| |||||||
18,828 | Equinor ASA (Oil, Gas & Consumable Fuels) | 400 | ||||||
1,273 | Marine Harvest ASA (Food Products) | 27 | ||||||
1,102 | Telenor ASA (Diversified Telecommunication Services) | 21 | ||||||
|
| |||||||
448 | ||||||||
|
| |||||||
Singapore — 0.06% |
| |||||||
2,600 | Singapore Exchange Ltd. (Capital Markets) | 13 | ||||||
5,409 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 12 | ||||||
|
| |||||||
25 | ||||||||
|
| |||||||
Spain — 2.73% |
| |||||||
8,880 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 47 | ||||||
48,181 | Bankinter SA (Banks) | 387 | ||||||
1,387 | Corporacion Mapfre (Insurance) | 4 | ||||||
823 | Enagas (Oil, Gas & Consumable Fuels) | 22 | ||||||
582 | Endesa (Electric Utilities) | 13 | ||||||
630 | Gas Natural SDG SA (Gas Utilities) | 16 | ||||||
59,666 | Iberdrola SA (Electric Utilities) | 479 | ||||||
789 | Red Electrica Corp. (Electric Utilities) | 18 | ||||||
4,462 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 72 | ||||||
8,100 | Telefonica SA (Diversified Telecommunication Services) | 68 | ||||||
|
| |||||||
1,126 | ||||||||
|
| |||||||
Sweden — 2.96% |
| |||||||
19,207 | Boliden AB (Metals & Mining) | 417 | ||||||
453 | ICA Gruppen AB (Food & Staples Retailing) | 16 | ||||||
7,293 | Lundin Petroleum AB (Oil, Gas & Consumable Fuels) | 182 | ||||||
1,904 | Skanska AB, B Shares (Construction & Engineering) | 30 | ||||||
24,548 | SKF AB, B Shares (Machinery) | 373 | ||||||
1,005 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 13 | ||||||
17,303 | Telefonaktiebolaget LM Ericsson, B Shares (Communications Equipment) | 153 | ||||||
7,726 | TeliaSonera AB (Diversified Telecommunication Services) | 37 | ||||||
|
| |||||||
1,221 | ||||||||
|
| |||||||
Switzerland — 1.94% |
| |||||||
2,120 | Adecco SA, Registered Shares (Professional Services) | 100 | ||||||
6,880 | Ferguson PLC (Trading Companies & Distributors) | 440 | ||||||
274 | Garmin Ltd. (Household Durables) | 17 | ||||||
136 | Swisscom AG (Diversified Telecommunication Services) | 65 | ||||||
605 | Zurich Financial Services AG (Insurance) | 180 | ||||||
|
| |||||||
802 | ||||||||
|
| |||||||
United Kingdom — 6.26% |
| |||||||
23,749 | 3i Group PLC (Capital Markets) | 234 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) |
| |||||||
19,925 | Anglo American PLC (Metals & Mining) | $ | 446 | |||||
9,827 | Aviva PLC (Insurance) | 47 | ||||||
6,806 | Barratt Developments PLC (Household Durables) | 40 | ||||||
28,347 | BT Group PLC (Diversified Telecommunication Services) | 86 | ||||||
19,205 | Centrica PLC (Multi-Utilities) | 33 | ||||||
3,784 | Direct Line Insurance Group PLC (Insurance) | 15 | ||||||
22,075 | easyJet PLC (Airlines) | 311 | ||||||
2,729 | Hammerson PLC (Equity Real Estate Investment Trusts) | 11 | ||||||
1,101 | Investec PLC (Capital Markets) | 6 | ||||||
35,360 | ITV PLC (Media) | 56 | ||||||
13,491 | J Sainsbury PLC (Food & Staples Retailing) | 46 | ||||||
16,359 | Legal & General Group PLC (Insurance) | 49 | ||||||
1,214 | Linde PLC (Chemicals) | 189 | ||||||
10,384 | Marks & Spencer Group PLC (Multiline Retail) | 33 | ||||||
11,911 | National Grid PLC (Multi-Utilities) | 117 | ||||||
971 | Next PLC (Multiline Retail) | 49 | ||||||
9,518 | Pearson PLC (Media) | 114 | ||||||
2,537 | Persimmon PLC (Household Durables) | 63 | ||||||
492 | Rio Tinto PLC (Metals & Mining) | 24 | ||||||
1,741 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 51 | ||||||
8,182 | Royal Mail PLC (Air Freight & Logistics) | 28 | ||||||
7,735 | Standard Life Aberdeen PLC (Diversified Financial Services) | 25 | ||||||
22,051 | Taylor Wimpey PLC (Household Durables) | 38 | ||||||
519 | TechnipFMC PLC (Energy Equipment & Services) | 10 | ||||||
10,022 | The Berkeley Group Holdings PLC (Household Durables) | 445 | ||||||
2,222 | United Utilities Group PLC (Water Utilities) | 21 | ||||||
|
| |||||||
2,587 | ||||||||
|
| |||||||
United States — 58.11% |
| |||||||
2,480 | Accenture PLC, Class – A (IT Services) | 350 | ||||||
151 | Advance Auto Parts, Inc. (Specialty Retail) | 24 | ||||||
6,500 | Agilent Technologies, Inc. (Life Sciences Tools & Services) | 438 | ||||||
915 | Air Products & Chemicals, Inc. (Chemicals) | 146 | ||||||
405 | Akamai Technologies, Inc. (IT Services) (a) | 25 | ||||||
483 | Alphabet, Inc., Class – A (Interactive Media & Services) (a) | 504 | ||||||
310 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | 466 | ||||||
2,100 | American Electric Power, Inc. (Electric Utilities) | 157 | ||||||
4,813 | American Express Co. (Consumer Finance) | 459 | ||||||
1,507 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | 129 | ||||||
5,489 | Apple, Inc. (Technology Hardware, Storage & Peripherals) | 867 | ||||||
1,834 | Automatic Data Processing, Inc. (IT Services) | 240 | ||||||
305 | Avnet, Inc. (Electronic Equipment, Instruments & Components) | 11 | ||||||
2,173 | Becton, Dickinson & Co. (Health Care Equipment & Supplies) | 489 | ||||||
6,584 | Best Buy Co., Inc. (Specialty Retail) | 349 | ||||||
284 | Broadridge Financial Solutions, Inc. (IT Services) | 27 | ||||||
320 | C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | 27 |
See accompanying notes to financial statements.
89
Table of Contents
HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) |
| |||||||
370 | Campbell Soup Co. (Food Products) | $ | 12 | |||||
9,191 | Cardinal Health, Inc. (Health Care Providers & Services) | 410 | ||||||
363 | CDK Global, Inc. (Software) | 17 | ||||||
3,496 | Cerner Corp. (Health Care Technology) (a) | 183 | ||||||
2,300 | Cigna Corp. (Health Care Providers & Services) | 438 | ||||||
12,270 | Cisco Systems, Inc. (Communications Equipment) | 532 | ||||||
717 | Citizens Financial Group, Inc. (Banks) | 21 | ||||||
351 | Citrix Systems, Inc. (Software) | 36 | ||||||
1,268 | CME Group, Inc. (Capital Markets) | 239 | ||||||
2,530 | Cognizant Technology Solutions Corp. (IT Services) | 161 | ||||||
3,570 | Colgate-Palmolive Co. (Household Products) | 212 | ||||||
7,528 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 470 | ||||||
574 | Copart, Inc. (Commercial Services & Supplies) (a) | 27 | ||||||
3,914 | CSX Corp. (Road & Rail) | 243 | ||||||
772 | Cummins, Inc. (Machinery) | 103 | ||||||
5,975 | DaVita Healthcare Partners, Inc. (Health Care Providers & Services) (a) | 307 | ||||||
8,100 | Delta Air Lines, Inc. (Airlines) | 404 | ||||||
365 | Dover Corp. (Machinery) | 26 | ||||||
1,135 | Ecolab, Inc. (Chemicals) | 168 | ||||||
872 | Edwards Lifesciences Corp. (Health Care Equipment & Supplies) (a) | 133 | ||||||
6,800 | Exelon Corp. (Electric Utilities) | 307 | ||||||
433 | Expeditors International of Washington, Inc. (Air Freight & Logistics) | 29 | ||||||
5,327 | Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | 363 | ||||||
167 | F5 Networks, Inc. (Communications Equipment) (a) | 27 | ||||||
920 | Facebook, Inc., Class – A (Interactive Media & Services) (a) | 121 | ||||||
316 | Fluor Corp. (Construction & Engineering) | 10 | ||||||
896 | Franklin Resources, Inc. (Capital Markets) | 27 | ||||||
462 | Gap, Inc. (Specialty Retail) | 12 | ||||||
10,627 | General Mills, Inc. (Food Products) | 415 | ||||||
359 | Genuine Parts Co. (Distributors) | 34 | ||||||
16,400 | H&R Block, Inc. (Diversified Consumer Services) | 416 | ||||||
3,579 | Halliburton Co. (Energy Equipment & Services) | 95 | ||||||
3,600 | HCA Holdings, Inc. (Health Care Providers & Services) | 449 | ||||||
383 | Henry Schein, Inc. (Health Care Providers & Services) (a) | 30 | ||||||
346 | Hershey Co. (Food Products) | 37 | ||||||
619 | Hormel Foods Corp. (Food Products) | 26 | ||||||
21,200 | HP, Inc. (Technology Hardware, Storage & Peripherals) | 434 | ||||||
172 | IDEX Corp. (Machinery) | 22 | ||||||
230 | IDEXX Laboratories, Inc. (Health Care Equipment & Supplies) (a) | 43 | ||||||
1,200 | Illinois Tool Works, Inc. (Machinery) | 151 | ||||||
14,001 | Intel Corp. (Semiconductors & Semiconductor Equipment) | 657 | ||||||
2,876 | International Business Machines Corp. (IT Services) | 327 | ||||||
3,600 | International Paper Co. (Containers & Packaging) | 145 |
Shares | Security Description | Value (000) | ||||||
United States (continued) |
| |||||||
1,098 | Intuit, Inc. (Software) | $ | 216 | |||||
3,100 | Jazz Pharmaceuticals PLC (Pharmaceuticals) (a) | 384 | ||||||
1,577 | Kimberly-Clark Corp. (Household Products) | 180 | ||||||
3,526 | Kohl’s Corp. (Multiline Retail) | 234 | ||||||
239 | Laboratory Corporation of America Holdings (Health Care Providers & Services) (a) | 30 | ||||||
2,311 | Marsh & McLennan Companies, Inc. (Insurance) | 184 | ||||||
275 | McCormick & Company, Inc. (Food Products) | 38 | ||||||
63 | Mettler-Toledo International, Inc. (Life Sciences Tools & Services) (a) | 36 | ||||||
5,992 | Microsoft Corp. (Software) | 609 | ||||||
7,265 | Molson Coors Brewing Co., Class – B (Beverages) | 408 | ||||||
891 | National Oilwell Varco, Inc. (Energy Equipment & Services) | 23 | ||||||
5,210 | NIKE, Inc., Class – B (Textiles, Apparel & Luxury Goods) | 386 | ||||||
6,491 | Nordstrom, Inc. (Multiline Retail) | 302 | ||||||
3,103 | Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 190 | ||||||
10,691 | Oracle Corp. (Software) | 483 | ||||||
1,262 | Paychex, Inc. (IT Services) | 82 | ||||||
4,033 | PepsiCo, Inc. (Beverages) | 446 | ||||||
4,344 | Phillips 66 (Oil, Gas & Consumable Fuels) | 374 | ||||||
330 | Quest Diagnostics, Inc. (Health Care Providers & Services) | 27 | ||||||
321 | ResMed, Inc. (Health Care Equipment & Supplies) | 37 | ||||||
320 | Robert Half International, Inc. (Professional Services) | 18 | ||||||
413 | Roper Industries, Inc. (Industrial Conglomerates) | 110 | ||||||
1,674 | Ross Stores, Inc. (Specialty Retail) | 139 | ||||||
1,089 | S&P Global, Inc. (Capital Markets) | 185 | ||||||
4,879 | Schlumberger Ltd. (Energy Equipment & Services) | 176 | ||||||
4,000 | Seagate Technology Holdings, Inc. (Technology Hardware, Storage & Peripherals) | 154 | ||||||
3,900 | Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | 261 | ||||||
135 | Snap-on, Inc. (Machinery) | 20 | ||||||
5,500 | State Street Corp. (Capital Markets) | 347 | ||||||
2,553 | Sysco Corp. (Food & Staples Retailing) | 160 | ||||||
1,076 | T. Rowe Price Group, Inc. (Capital Markets) | 99 | ||||||
596 | Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | 20 | ||||||
616 | TD Ameritrade Holding Corp. (Capital Markets) | 30 | ||||||
4,006 | Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | 379 | ||||||
26,100 | The AES Corp. (Independent Power and Renewable Electricity Producers) | 377 | ||||||
290 | The J.M. Smucker Co. (Food Products) | 27 | ||||||
4,083 | The Kroger Co. (Food & Staples Retailing) | 112 | ||||||
7,500 | The Progressive Corp. (Insurance) | 453 | ||||||
3,930 | The Southern Co. (Electric Utilities) | 173 | ||||||
4,487 | The Walt Disney Co. (Entertainment) | 492 | ||||||
264 | Tiffany & Co. (Specialty Retail) | 21 | ||||||
300 | Tractor Supply Co. (Specialty Retail) | 25 | ||||||
164 | Ulta Salon, Cosmetics & Fragrance, Inc. (Specialty Retail) (a) | 40 | ||||||
349 | Under Armour, Inc., Class – A (Textiles, Apparel & Luxury Goods) (a) | 6 |
See accompanying notes to financial statements.
90
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HC CAPITAL TRUST
The Catholic SRI Growth Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United States (continued) |
| |||||||
351 | Under Armour, Inc., Class – C (Textiles, Apparel & Luxury Goods) (a) | $ | 6 | |||||
3,386 | Union Pacific Corp. (Road & Rail) | 468 | ||||||
235 | Varian Medical Systems, Inc. (Health Care Equipment & Supplies) (a) | 27 | ||||||
2,800 | Vertex Pharmaceuticals, Inc. (Biotechnology) (a) | 464 | ||||||
4,620 | Visa, Inc., Class – A (IT Services) | 611 | ||||||
198 | VMware, Inc., Class – A (Software) | 27 | ||||||
1,474 | W.W. Grainger, Inc. (Trading Companies & Distributors) | 416 | ||||||
181 | Waters Corp. (Life Sciences Tools & Services) (a) | 34 | ||||||
1,185 | Western Union Co. (IT Services) | 20 | ||||||
2,059 | Xcel Energy, Inc. (Electric Utilities) | 101 | ||||||
3,600 | Zoetis, Inc. (Pharmaceuticals) | 308 | ||||||
|
| |||||||
24,002 | ||||||||
|
| |||||||
Total Common Stocks | 41,012 | |||||||
|
| |||||||
Right — 0.00% |
| |||||||
Spain — 0.00% |
| |||||||
4,341 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | 2 | ||||||
|
| |||||||
Total Right | 2 | |||||||
|
|
Shares | Security Description | Value (000) | ||||||
Investment Company — 0.57% |
| |||||||
235,672 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (b) | $ | 236 | |||||
|
| |||||||
Total Investment Company | 236 | |||||||
|
| |||||||
Total Investments (cost $42,713) — 99.87% | 41,250 | |||||||
Other assets in excess of liabilities — 0.13% | 52 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 41,302 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Representsnon-income producing security. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
REIT — Real Estate Investment Trust
As of December 31, 2018, 100% of the Portfolio’s net assets were managed by Mellon Investments Corporation.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Forward Currency Contracts
Long Contracts
Description and amount of currency to be purchased (000) | Description and (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||
Japanese Yen | 7,391 | U.S. Dollar | 67 | Societe Generale | 1/4/19 | $ | 1 | |||||||||||
|
| |||||||||||||||||
$ | 1 | |||||||||||||||||
|
| |||||||||||||||||
Total Unrealized Appreciation |
| $ | 1 | |||||||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||||||
|
| |||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | 1 | |||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
91
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 101.06% | ||||||||
Australia — 4.12% |
| |||||||
31,845 | AGL Energy Ltd. (Multi-Utilities) | $ | 462 | |||||
245,074 | Alumina Ltd. (Metals & Mining) | 397 | ||||||
81,393 | AMP Ltd. (Diversified Financial Services) | 140 | ||||||
56,851 | APA Group (Gas Utilities) | 340 | ||||||
198,797 | Aurizon Holdings Ltd. (Road & Rail) | 600 | ||||||
107,232 | AusNet Services (Electric Utilities) | 117 | ||||||
115,072 | Australia & New Zealand Banking Group Ltd. (Banks) | 1,988 | ||||||
16,494 | Bank of Queensland Ltd. (Banks) | 113 | ||||||
20,734 | Bendigo & Adelaide Bank Ltd. (Banks) | 158 | ||||||
246,289 | BHP Billiton Ltd. (Metals & Mining) | 5,952 | ||||||
367,158 | BHP Group PLC (Metals & Mining) | 7,757 | ||||||
91,018 | Boral Ltd. (Construction Materials) | 317 | ||||||
70,060 | Coca-Cola Amatil Ltd. (Beverages) | 404 | ||||||
68,621 | Commonwealth Bank of Australia (Banks) | 3,499 | ||||||
40,722 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 340 | ||||||
92,903 | GPT Group (Equity Real Estate Investment Trusts) | 350 | ||||||
69,745 | Harvey Norman Holdings Ltd. (Multiline Retail)^ | 155 | ||||||
88,630 | Insurance Australia Group Ltd. (Insurance) | 437 | ||||||
23,913 | Lend Lease Group Ltd. (Real Estate Management & Development) | 196 | ||||||
8,521 | Macquarie Group Ltd. (Capital Markets) | 653 | ||||||
86,223 | Medibank Private Ltd. (Insurance) | 156 | ||||||
194,587 | Mirvac Group (Equity Real Estate Investment Trusts) | 307 | ||||||
103,113 | National Australia Bank Ltd. (Banks) | 1,749 | ||||||
30,253 | Rio Tinto Ltd. (Metals & Mining) | 1,674 | ||||||
277,489 | Scentre Group (Equity Real Estate Investment Trusts) | 763 | ||||||
129,474 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 321 | ||||||
50,008 | Suncorp Group Ltd. (Insurance) | 445 | ||||||
111,846 | Sydney Airport (Transportation Infrastructure) | 530 | ||||||
203,537 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 615 | ||||||
241,754 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | 485 | ||||||
229,171 | Transurban Group (Transportation Infrastructure) | 1,881 | ||||||
178,024 | Vicinity Centres (Equity Real Estate Investment Trusts) | 326 | ||||||
86,818 | Wesfarmers Ltd. (Food & Staples Retailing) | 1,972 | ||||||
131,362 | Westpac Banking Corp. (Banks) | 2,321 | ||||||
|
| |||||||
37,920 | ||||||||
|
| |||||||
Austria — 0.15% |
| |||||||
5,384 | ANDRITZ AG (Machinery) | 247 | ||||||
9,252 | Erste Group Bank AG (Banks) | 307 | ||||||
11,765 | OMV AG (Oil, Gas & Consumable Fuels) | 514 | ||||||
9,467 | Voestalpine AG (Metals & Mining) | 282 | ||||||
|
| |||||||
1,350 | ||||||||
|
| |||||||
Belgium — 0.80% |
| |||||||
4,804 | Ageas (Insurance) | 216 | ||||||
99,956 | Anheuser-Busch InBev N.V. (Beverages) | 6,584 |
Shares | Security Description | Value (000) | ||||||
Belgium (continued) |
| |||||||
5,869 | Belgacom SA (Diversified Telecommunication Services) | $ | 159 | |||||
5,990 | KBC Groep N.V. (Banks) | 385 | ||||||
|
| |||||||
7,344 | ||||||||
|
| |||||||
Bermuda — 0.03% |
| |||||||
91,667 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 293 | ||||||
|
| |||||||
Brazil — 0.44% |
| |||||||
83,095 | B3 SA (Capital Markets) | 575 | ||||||
266,461 | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) | 3,467 | ||||||
|
| |||||||
4,042 | ||||||||
|
| |||||||
Canada — 3.01% |
| |||||||
36,828 | Canadian Imperial Bank of Commerce (Banks) | 2,743 | ||||||
13,277 | Canadian National Railway Co. (Road & Rail) | 984 | ||||||
11,006 | Canadian Pacific Railway Ltd. (Road & Rail) | 1,953 | ||||||
6,118 | Canadian Pacific Railway Ltd. (Road & Rail) | 1,087 | ||||||
8,809 | Dollarama, Inc. (Multiline Retail) | 210 | ||||||
908,857 | Encana Corp. (Oil, Gas & Consumable Fuels) | 5,247 | ||||||
4,875 | Fortis, Inc. (Electric Utilities) | 163 | ||||||
204,297 | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | 6,202 | ||||||
642,718 | Manulife Financial Corp. (Insurance) | 9,120 | ||||||
|
| |||||||
27,709 | ||||||||
|
| |||||||
Chile — 0.05% |
| |||||||
41,760 | Antofagasta PLC (Metals & Mining) | 418 | ||||||
|
| |||||||
China — 2.47% |
| |||||||
52,488 | Baidu, Inc., ADR (Interactive Media & Services) (a) | 8,325 | ||||||
1,360,000 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 2,445 | ||||||
1,186,650 | China Mobile Ltd. (Wireless Telecommunication Services) | 11,484 | ||||||
5,767 | Kweichow Moutai Co. Ltd. (Beverages) | 498 | ||||||
|
| |||||||
22,752 | ||||||||
|
| |||||||
Denmark — 1.29% |
| |||||||
9,110 | Carlsberg A/S, Class – B (Beverages) | 969 | ||||||
24,000 | Danske Bank A/S (Banks) | 477 | ||||||
20,969 | Genmab A/S (Biotechnology) (a) | 3,448 | ||||||
15,708 | ISS A/S (Commercial Services & Supplies) | 440 | ||||||
119,828 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 5,504 | ||||||
8,345 | Orsted A/S (Electric Utilities) | 559 | ||||||
9,655 | Pandora A/S (Textiles, Apparel & Luxury Goods) | 394 | ||||||
4,678 | Tryg A/S (Insurance) | 118 | ||||||
|
| |||||||
11,909 | ||||||||
|
| |||||||
Finland — 0.85% |
| |||||||
10,063 | Elisa Oyj (Diversified Telecommunication Services) | 417 | ||||||
116,953 | Fortum Oyj (Electric Utilities) | 2,560 | ||||||
16,106 | Nokian Renkaat Oyj (Auto Components) | 495 | ||||||
196,065 | Nordea Bank Abp (Banks) | 1,651 | ||||||
14,675 | Orion Oyj, Class – B (Pharmaceuticals) | 510 |
See accompanying notes to financial statements.
92
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Finland (continued) |
| |||||||
24,279 | Sampo Oyj, Class – A (Insurance) | $ | 1,076 | |||||
44,082 | UPM-Kymmene Oyj (Paper & Forest Products) | 1,116 | ||||||
|
| |||||||
7,825 | ||||||||
|
| |||||||
France — 6.71% |
| |||||||
35,643 | Air Liquide SA (Chemicals) | 4,425 | ||||||
8,088 | Amundi SA (Capital Markets) | 427 | ||||||
8,599 | Atos SE (IT Services) | 704 | ||||||
66,742 | AXA SA (Insurance) | 1,440 | ||||||
258,240 | BNP Paribas (Banks) | 11,662 | ||||||
20,504 | Bouygues SA (Construction & Engineering) | 736 | ||||||
5,148 | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | 214 | ||||||
6,180 | CNP Assurances (Insurance) | 131 | ||||||
46,168 | Compagnie de Saint-Gobain (Building Products) | 1,532 | ||||||
15,506 | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | 1,526 | ||||||
39,520 | Credit Agricole SA (Banks) | 425 | ||||||
18,551 | Danone SA (Food Products) | 1,307 | ||||||
23,519 | Eiffage SA (Construction & Engineering) (b) | 1,966 | ||||||
284,497 | ENGIE (Multi-Utilities) | 4,087 | ||||||
15,194 | Eutelsat Communications (Media) | 299 | ||||||
1,875 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 181 | ||||||
2,164 | Gecina SA (Equity Real Estate Investment Trusts) | 280 | ||||||
1,785 | Icade (Equity Real Estate Investment Trusts) | 136 | ||||||
3,357 | Imerys SA (Construction Materials) | 161 | ||||||
5,499 | Ingenico Group SA (Electronic Equipment, Instruments & Components) | 312 | ||||||
10,240 | Klepierre (Equity Real Estate Investment Trusts) | 316 | ||||||
34,055 | Natixism SA (Capital Markets) | 161 | ||||||
90,639 | Orange SA (Diversified Telecommunication Services) | 1,469 | ||||||
19,375 | Publicis Groupe (Media) | 1,106 | ||||||
17,686 | Renault SA (Automobiles) | 1,102 | ||||||
27,348 | Rexel SA (Trading Companies & Distributors) | 291 | ||||||
11,992 | Safran SA (Aerospace & Defense) (b) | 1,438 | ||||||
82,696 | Sanofi-Aventis (Pharmaceuticals) | 7,174 | ||||||
59,706 | Schneider Electric SA (Electrical Equipment) | 4,049 | ||||||
6,141 | SCOR SE (Insurance) | 276 | ||||||
2,471 | Societe BIC SA (Commercial Services & Supplies) | 252 | ||||||
27,853 | Societe Generale (Banks) | 883 | ||||||
17,642 | Suez Environnement Co. (Multi-Utilities) | 233 | ||||||
125,166 | Total SA (Oil, Gas & Consumable Fuels) | 6,601 | ||||||
6,613 | Unibail-Rodamco-Westfield (Equity Real Estate Investment Trusts) | 1,024 | ||||||
21,828 | Valeo SA (Auto Components) | 637 | ||||||
24,938 | Veolia Environnement (Multi-Utilities) | 511 | ||||||
28,386 | Vinci SA (Construction & Engineering) | 2,334 | ||||||
|
| |||||||
61,808 | ||||||||
|
| |||||||
Germany — 10.09% |
| |||||||
2,373 | Adidas AG (Textiles, Apparel & Luxury Goods) | 496 |
Shares | Security Description | Value (000) | ||||||
Germany (continued) |
| |||||||
32,558 | Allianz SE (Insurance) | $ | 6,542 | |||||
3,230 | Axel Springer AG (Media) | 183 | ||||||
231,391 | BASF SE (Chemicals) | 16,116 | ||||||
58,176 | Bayer AG (Pharmaceuticals) | 4,046 | ||||||
21,207 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 1,720 | ||||||
30,136 | Beiersdorf AG (Personal Products) | 3,143 | ||||||
6,888 | Continental AG (Auto Components) | 959 | ||||||
12,356 | Covestro AG (Chemicals) | 612 | ||||||
62,334 | Daimler AG, Registered Shares (Automobiles) | 3,285 | ||||||
81,588 | Deutsche Boerse AG (Capital Markets) | 9,753 | ||||||
15,372 | Deutsche Lufthansa AG, Registered Shares (Airlines) | 347 | ||||||
465,990 | Deutsche Post AG (Air Freight & Logistics) | 12,724 | ||||||
105,570 | Deutsche Telekom AG (Diversified Telecommunication Services) | 1,794 | ||||||
2,159 | Drillisch AG (Wireless Telecommunication Services) | 110 | ||||||
69,835 | E.ON AG (Multi-Utilities) | 689 | ||||||
10,715 | Evonik Industries AG (Chemicals) | 267 | ||||||
10,884 | GEA Group AG (Machinery) | 280 | ||||||
1,676 | Hannover Rueckversicherung AG (Insurance) | 226 | ||||||
9,447 | HeidelbergCement AG (Construction Materials) | 579 | ||||||
4,386 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 270 | ||||||
11,429 | Metro AG (Food & Staples Retailing) | 176 | ||||||
3,790 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 826 | ||||||
16,198 | ProSiebenSat.1 Media AG (Media) | 288 | ||||||
117,182 | SAP SE (Software) | 11,629 | ||||||
39,083 | Siemens AG (Industrial Conglomerates) | 4,361 | ||||||
25,195 | Symrise AG (Chemicals) | 1,867 | ||||||
31,054 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 122 | ||||||
48,880 | TUI AG (Hotels, Restaurants & Leisure) | 702 | ||||||
6,695 | Uniper SE (Independent Power and Renewable Electricity Producers) | 173 | ||||||
15,251 | Vonovia SE (Real Estate Management & Development) | 687 | ||||||
52,930 | Wirecard AG (IT Services) | 7,978 | ||||||
|
| |||||||
92,950 | ||||||||
|
| |||||||
Hong Kong — 2.32% |
| |||||||
635,680 | AIA Group Ltd. (Insurance) (b) | 5,282 | ||||||
34,700 | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | 335 | ||||||
160,555 | BOC Hong Kong (Holdings) Ltd. (Banks) | 596 | ||||||
148,000 | CK Asset Holdings Ltd. (Real Estate Management & Development) | 1,083 | ||||||
259,500 | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | 2,491 | ||||||
40,000 | CK Infrastructure Holdings Ltd. (Electric Utilities) | 303 | ||||||
98,593 | CLP Holdings Ltd. (Electric Utilities) | 1,115 | ||||||
334,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) (a) | — | ||||||
54,000 | Hang Lung Group Ltd. (Real Estate Management & Development) | 138 |
See accompanying notes to financial statements.
93
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Hong Kong (continued) |
| |||||||
119,675 | Hang Lung Properties Ltd. (Real Estate Management & Development) | $ | 227 | |||||
33,406 | Hang Seng Bank Ltd. (Banks) | 748 | ||||||
75,472 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 376 | ||||||
156,073 | HK Electric Investments Ltd. (Electric Utilities) | 157 | ||||||
217,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 313 | ||||||
66,800 | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | 421 | ||||||
40,000 | Hysan Development Co. (Real Estate Management & Development) | 190 | ||||||
40,500 | Kerry Properties Ltd. (Real Estate Management & Development) | 138 | ||||||
356,483 | New World Development Co. Ltd. (Real Estate Management & Development) | 471 | ||||||
100,000 | NWS Holdings Ltd. (Industrial Conglomerates) | 205 | ||||||
261,000 | PCCW Ltd. (Diversified Telecommunication Services) | 150 | ||||||
83,224 | Power Assets Holdings Ltd. (Electric Utilities) | 578 | ||||||
284,000 | Sands China Ltd. (Hotels, Restaurants & Leisure) | 1,238 | ||||||
189,205 | Sino Land Co. Ltd. (Real Estate Management & Development) | 324 | ||||||
92,756 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 1,324 | ||||||
53,600 | The Bank of East Asia Ltd. (Banks) | 170 | ||||||
124,417 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 1,261 | ||||||
83,000 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 216 | ||||||
1,094,000 | WH Group Ltd. (Food Products) | 840 | ||||||
48,000 | Wheelock & Co. Ltd. (Real Estate Management & Development) | 275 | ||||||
196,000 | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | 427 | ||||||
|
| |||||||
21,392 | ||||||||
|
| |||||||
Indonesia — 0.15% |
| |||||||
5,582,300 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 1,423 | ||||||
|
| |||||||
Ireland (Republic of) — 1.17% |
| |||||||
15,915 | AIB Group PLC (Banks) | 67 | ||||||
39,106 | CRH PLC (Construction Materials) | 1,036 | ||||||
82,304 | Experian PLC (Professional Services) | 1,995 | ||||||
77,716 | Medtronic PLC (Health Care Equipment & Supplies) | 7,069 | ||||||
3,830 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 314 | ||||||
10,838 | Smurfit Kappa Group PLC (Containers & Packaging) | 288 | ||||||
|
| |||||||
10,769 | ||||||||
|
| |||||||
Israel — 0.23% |
| |||||||
2,005 | Azrieli Group (Real Estate Management & Development) | 96 | ||||||
91,130 | Bank Hapoalim Ltd. (Banks) | 576 |
Shares | Security Description | Value (000) | ||||||
Israel (continued) |
| |||||||
50,991 | Bank Leumi Le (Banks) | $ | 309 | |||||
283,655 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | 277 | ||||||
133,290 | Israel Chemicals Ltd. (Chemicals) | 759 | ||||||
4,968 | Mizrahi Tefahot Bank Ltd. (Banks) | 84 | ||||||
|
| |||||||
2,101 | ||||||||
|
| |||||||
Italy — 2.94% |
| |||||||
241,910 | Assicurazioni Generali SpA (Insurance) | 4,043 | ||||||
40,769 | Atlantia SpA (Transportation Infrastructure) | 844 | ||||||
329,484 | Enel SpA (Electric Utilities) | 1,910 | ||||||
205,206 | Eni SpA (Oil, Gas & Consumable Fuels) | 3,241 | ||||||
1,592,888 | Intesa Sanpaolo SpA (Banks) | 3,546 | ||||||
19,350 | Mediobanca SpA (Banks) | 164 | ||||||
17,393 | Poste Italiane SpA (Insurance) | 139 | ||||||
179,666 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 787 | ||||||
253,983 | Telecom Italia SpA (Diversified Telecommunication Services) | 122 | ||||||
56,744 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 322 | ||||||
1,056,308 | Unicredit SpA (Banks) | 11,962 | ||||||
|
| |||||||
27,080 | ||||||||
|
| |||||||
Japan — 18.00% |
| |||||||
3,561 | AEON Credit Service Co. Ltd. (Consumer Finance) | 63 | ||||||
14,800 | Aisin Seiki Co. Ltd. (Auto Components) | 509 | ||||||
30,200 | Amada Holdings Co. Ltd. (Machinery) | 271 | ||||||
4,316 | Aozora Bank Ltd. (Banks) | 129 | ||||||
16,345 | Asahi Glass Co. Ltd. (Building Products) | 508 | ||||||
110,300 | Asahi Kasei Corp. (Chemicals) | 1,132 | ||||||
6,680 | Benesse Holdings, Inc. (Diversified Consumer Services) | 170 | ||||||
53,811 | Bridgestone Corp. (Auto Components) | 2,064 | ||||||
21,100 | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | 312 | ||||||
57,900 | CALBEE, Inc. (Food Products) | 1,808 | ||||||
89,910 | Canon, Inc. (Technology Hardware, Storage & Peripherals)^ | 2,474 | ||||||
19,500 | Casio Computer Co. Ltd. (Household Durables) | 231 | ||||||
1,000 | Century Tokyo Leasing Corp. (Diversified Financial Services) | 44 | ||||||
27,700 | Chubu Electric Power Company, Inc. (Electric Utilities) | 394 | ||||||
37,800 | Concordia Financial Group Ltd. (Banks) | 144 | ||||||
3,900 | Credit Saison Co. Ltd. (Consumer Finance) | 46 | ||||||
21,688 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 453 | ||||||
23,500 | Daicel Corp. (Chemicals) | 241 | ||||||
3,379 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 463 | ||||||
25,050 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | 799 | ||||||
79 | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | 177 | ||||||
38,100 | Daiwa Securities Group, Inc. (Capital Markets) | 193 | ||||||
9,400 | DeNA Co. Ltd. (Entertainment) | 157 |
See accompanying notes to financial statements.
94
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) |
| |||||||
38,100 | Denso Corp. (Auto Components) | $ | 1,687 | |||||
85,300 | East Japan Railway Co. (Road & Rail) | 7,533 | ||||||
7,300 | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | 173 | ||||||
57,000 | Fanuc Ltd. (Machinery) | 8,652 | ||||||
55,798 | Fuji Heavy Industries Ltd. (Automobiles) | 1,192 | ||||||
34,300 | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | 1,330 | ||||||
17,300 | Fujitsu Ltd. (IT Services) | 1,079 | ||||||
5,977 | Fukuoka Financial Group, Inc. (Banks) | 121 | ||||||
23,400 | Hino Motors Ltd. (Machinery) | 220 | ||||||
2,900 | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | 284 | ||||||
10,100 | Hitachi Chemical Co. Ltd. (Chemicals) | 152 | ||||||
9,800 | Hitachi Construction Machinery Co. Ltd. (Machinery) | 229 | ||||||
6,200 | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | 194 | ||||||
85,800 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 2,275 | ||||||
20,000 | Hitachi Metals Ltd. (Metals & Mining) | 208 | ||||||
143,341 | Honda Motor Co. Ltd. (Automobiles) | 3,777 | ||||||
13,800 | Hulic Co. Ltd. (Real Estate Management & Development) | 123 | ||||||
14,200 | Iida Group Holdings Co. Ltd. (Household Durables) | 246 | ||||||
48,500 | Isuzu Motors Ltd. (Automobiles) | 680 | ||||||
124,417 | ITOCHU Corp. (Trading Companies & Distributors) | 2,113 | ||||||
196,100 | Japan Airlines Co. Ltd. (Airlines) | 6,951 | ||||||
98,800 | Japan Exchange Group, Inc. (Capital Markets) | 1,595 | ||||||
15,900 | Japan Post Bank Co. Ltd. (Banks) | 175 | ||||||
52,900 | Japan Post Holdings Co. Ltd. (Insurance) | 611 | ||||||
39 | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | 148 | ||||||
61 | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | 343 | ||||||
123 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 245 | ||||||
98,500 | Japan Tobacco, Inc. (Tobacco)^ | 2,341 | ||||||
44,600 | JFE Holdings, Inc. (Metals & Mining) | 711 | ||||||
23,679 | JS Group Corp. (Building Products) | 294 | ||||||
17,354 | JSR Corp. (Chemicals) | 261 | ||||||
19,000 | JTEKT Corp. (Machinery) | 210 | ||||||
279,957 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 1,454 | ||||||
38,900 | Kajima Corp. (Construction & Engineering) | 523 | ||||||
13,100 | Kawasaki Heavy Industries Ltd. (Machinery) | 280 | ||||||
466,500 | KDDI Corp. (Wireless Telecommunication Services) | 11,149 | ||||||
80,245 | Komatsu Ltd. (Machinery) | 1,726 | ||||||
42,200 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 380 | ||||||
28,484 | Kuraray Co. Ltd. (Chemicals) | 401 | ||||||
28,400 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 1,420 | ||||||
13,700 | Kyushu Railway Co. (Road & Rail) | 464 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
5,294 | Lawson, Inc. (Food & Staples Retailing) | $ | 335 | |||||
139,116 | Marubeni Corp. (Trading Companies & Distributors) | 976 | ||||||
5,087 | Maruichi Steel Tube Ltd. (Metals & Mining) | 160 | ||||||
51,000 | Mazda Motor Corp. (Automobiles) | 524 | ||||||
36,600 | Mebuki Financial Group, Inc. (Banks) | 97 | ||||||
114,900 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 868 | ||||||
119,645 | Mitsubishi Corp. (Trading Companies & Distributors) | 3,281 | ||||||
159,700 | Mitsubishi Electric Corp. (Electrical Equipment) | 1,761 | ||||||
14,400 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 216 | ||||||
27,600 | Mitsubishi Heavy Industries Ltd. (Machinery) | 990 | ||||||
9,300 | Mitsubishi Materials Corp. (Metals & Mining) | 245 | ||||||
21,426 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 309 | ||||||
394,505 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 1,936 | ||||||
12,000 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 58 | ||||||
144,988 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 2,228 | ||||||
16,800 | Mitsui Chemicals, Inc. (Chemicals) | 379 | ||||||
804,377 | Mizuho Financial Group, Inc. (Banks) | 1,245 | ||||||
15,700 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 446 | ||||||
10,100 | Nabtesco Corp. (Machinery) | 219 | ||||||
18,000 | Namco Bandai Holdings, Inc. (Leisure Products) | 808 | ||||||
22,800 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 678 | ||||||
36,100 | Nexon Co. Ltd. (Entertainment) (a) | 466 | ||||||
23,100 | NGK Insulators Ltd. (Machinery) | 313 | ||||||
8,500 | NH Foods Ltd. (Food Products) | 320 | ||||||
28,900 | Nikon Corp. (Household Durables) | 431 | ||||||
62 | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | 391 | ||||||
8,384 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 205 | ||||||
82 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 173 | ||||||
31,000 | Nippon Shinyaku Co. Ltd. (Pharmaceuticals) | 1,965 | ||||||
67,600 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 1,161 | ||||||
31,200 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | 1,273 | ||||||
201,954 | Nissan Motor Co. Ltd. (Automobiles) | 1,616 | ||||||
14,700 | Nitto Denko Corp. (Chemicals) | 737 | ||||||
80,600 | Nomura Holdings, Inc. (Capital Markets) | 305 | ||||||
6,011 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 110 | ||||||
181 | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | 238 | ||||||
10,600 | Nomura Research Institute Ltd. (IT Services) | 393 | ||||||
33,200 | NSK Ltd. (Machinery) | 285 | ||||||
59,925 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 1,347 | ||||||
57,700 | Obayashi Corp. (Construction & Engineering) | 523 | ||||||
17,100 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 620 | ||||||
29,000 | ORIX Corp. (Diversified Financial Services) | 423 |
See accompanying notes to financial statements.
95
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) |
| |||||||
17,742 | Osaka Gas Co. Ltd. (Gas Utilities) | $ | 324 | |||||
195,900 | Panasonic Corp. (Household Durables) | 1,760 | ||||||
10,100 | Park24 Co. Ltd. (Commercial Services & Supplies) | 222 | ||||||
8,200 | Pola Orbis Holdings, Inc. (Personal Products) | 221 | ||||||
68,938 | Resona Holdings, Inc. (Banks) | 331 | ||||||
60,383 | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | 590 | ||||||
5,015 | Sankyo Co. Ltd. (Leisure Products) | 191 | ||||||
5,200 | SBI Holdings, Inc. (Capital Markets) | 101 | ||||||
17,000 | Sega Sammy Holdings, Inc. (Leisure Products) | 237 | ||||||
27,396 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 383 | ||||||
33,100 | Sekisui Chemical Co. Ltd. (Household Durables) | 492 | ||||||
55,352 | Sekisui House Ltd. (Household Durables) | 813 | ||||||
25,200 | Seven Bank Ltd. (Banks) | 72 | ||||||
1,900 | Shimamura Co. Ltd. (Specialty Retail) | 146 | ||||||
16,600 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 230 | ||||||
171,700 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 5,834 | ||||||
6,808 | Sony Financial Holdings, Inc. (Insurance) | 127 | ||||||
130,900 | Sumitomo Chemical Co. Ltd. (Chemicals) | 634 | ||||||
98,686 | Sumitomo Corp. (Trading Companies & Distributors) | 1,400 | ||||||
68,200 | Sumitomo Electric Industries Ltd. (Auto Components) | 903 | ||||||
10,100 | Sumitomo Heavy Industries Ltd. (Machinery) | 300 | ||||||
20,200 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 541 | ||||||
193,448 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 6,379 | ||||||
11,183 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 407 | ||||||
15,791 | Sumitomo Rubber Industries Ltd. (Auto Components) | 186 | ||||||
19,800 | T&D Holdings, Inc. (Insurance) | 229 | ||||||
18,700 | Taisei Corp. (Construction & Engineering) | 800 | ||||||
70,300 | Taiyo Nippon Sanso Corp. (Chemicals) | 1,143 | ||||||
454,311 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals)^ | 15,402 | ||||||
11,800 | TDK Corp. (Electronic Equipment, Instruments & Components) | 826 | ||||||
17,600 | Teijin Ltd. (Chemicals) | 281 | ||||||
13,242 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | 172 | ||||||
36,500 | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | 567 | ||||||
31,800 | The Kansai Electric Power Co., Inc. (Electric Utilities) | 476 | ||||||
17,200 | The Shizuoka Bank Ltd. (Banks) | 134 | ||||||
10,900 | The Yokohama Rubber Co. Ltd. (Auto Components) | 204 | ||||||
11,100 | THK Co. Ltd. (Machinery) | 207 | ||||||
19,800 | Tohoku Electric Power Co., Inc. (Electric Utilities) | 261 | ||||||
22,400 | Tokio Marine Holdings, Inc. (Insurance) | 1,064 | ||||||
14,000 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 1,576 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
26,500 | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) | $ | 131 | |||||
21,500 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 316 | ||||||
6,200 | Toyoda Gosei Co. Ltd. (Auto Components) | 122 | ||||||
13,000 | Toyota Industries Corp. (Auto Components) | 599 | ||||||
110,800 | Toyota Motor Corp. (Automobiles) | 6,416 | ||||||
18,770 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 552 | ||||||
10,627 | Trend Micro, Inc. (Software) | 574 | ||||||
132 | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | 204 | ||||||
19,100 | USS Co. Ltd. (Specialty Retail) | 320 | ||||||
14,600 | West Japan Railway Co. (Road & Rail) | 1,032 | ||||||
252,100 | Yahoo Japan Corp. (Interactive Media & Services) | 627 | ||||||
55,400 | Yamada Denki Co. Ltd. (Specialty Retail)^ | 266 | ||||||
24,200 | Yamaha Motor Co. Ltd. (Automobiles) | 473 | ||||||
19,400 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 335 | ||||||
|
| |||||||
165,919 | ||||||||
|
| |||||||
Jersey — 0.16% |
| |||||||
133,159 | WPP PLC (Media) | 1,449 | ||||||
|
| |||||||
Luxembourg — 0.12% |
| |||||||
4,815 | Millicom International Cellular SA (Wireless Telecommunication Services) | 305 | ||||||
2,557 | RTL Group (Media) | 137 | ||||||
32,545 | SES – FDR, Class – A (Media) | 623 | ||||||
|
| |||||||
1,065 | ||||||||
|
| |||||||
Netherlands — 4.21% |
| |||||||
10,074 | ABN AMRO Group N.V. (Banks) | 237 | ||||||
41,127 | AEGON N.V. (Insurance) | 193 | ||||||
59,354 | Airbus Group N.V. (Aerospace & Defense) | 5,658 | ||||||
153,474 | Akzo Nobel N.V. (Chemicals) | 12,358 | ||||||
4,112 | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | 644 | ||||||
903,437 | ING Groep N.V. (Banks) | 9,717 | ||||||
109,354 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 319 | ||||||
77,634 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 1,961 | ||||||
25,863 | Koninklijke DSM N.V. (Chemicals) | 2,098 | ||||||
7,022 | NN Group N.V. (Insurance) | 279 | ||||||
7,232 | Randstad Holding N.V. (Professional Services) | 332 | ||||||
92,629 | Unilever N.V. (Personal Products) | 5,017 | ||||||
|
| |||||||
38,813 | ||||||||
|
| |||||||
New Zealand — 0.03% |
| |||||||
14,312 | Auckland International Airport Ltd. (Transportation Infrastructure) | 69 | ||||||
25,217 | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | 58 | ||||||
56,359 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 157 | ||||||
|
| |||||||
284 | ||||||||
|
| |||||||
Norway — 0.38% |
| |||||||
55,909 | DNB ASA (Banks) | 898 | ||||||
12,336 | Gjensidige Forsikring ASA (Insurance) | 193 |
See accompanying notes to financial statements.
96
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The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Norway (continued) |
| |||||||
61,274 | Marine Harvest ASA (Food Products) | $ | 1,292 | |||||
55,776 | Telenor ASA (Diversified Telecommunication Services) | 1,084 | ||||||
|
| |||||||
3,467 | ||||||||
|
| |||||||
Portugal — 0.11% |
| |||||||
178,037 | EDP – Energias de Portugal SA (Electric Utilities) | 623 | ||||||
33,539 | Jeronimo Martins, SGPS, SA (Food & Staples Retailing) | 397 | ||||||
|
| |||||||
1,020 | ||||||||
|
| |||||||
Russia — 0.23% |
| |||||||
114,613 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | 2,151 | ||||||
|
| |||||||
Singapore — 1.02% |
| |||||||
330,472 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 624 | ||||||
341,544 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 439 | ||||||
337,515 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 560 | ||||||
513,600 | ComfortDelGro Corp. Ltd. (Road & Rail) | 811 | ||||||
129,400 | DBS Group Holdings Ltd. (Banks) | 2,252 | ||||||
87,500 | Singapore Airlines Ltd. (Airlines) | 605 | ||||||
52,900 | Singapore Exchange Ltd. (Capital Markets) | 277 | ||||||
286,200 | Singapore Press Holdings Ltd. (Media) | 493 | ||||||
283,227 | Singapore Tech Engineering (Aerospace & Defense) | 726 | ||||||
1,010,979 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 2,176 | ||||||
306,180 | Suntec REIT (Equity Real Estate Investment Trusts) | 399 | ||||||
|
| |||||||
9,362 | ||||||||
|
| |||||||
South Korea — 1.87% |
| |||||||
180,809 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 6,295 | ||||||
9,154 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 1,469 | ||||||
39,171 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 9,452 | ||||||
|
| |||||||
17,216 | ||||||||
|
| |||||||
Spain — 1.58% |
| |||||||
226,223 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 1,201 | ||||||
160,176 | Banco de Sabadell SA (Banks) | 183 | ||||||
469,520 | Banco Santander SA (Banks) | 2,132 | ||||||
1,020,302 | CaixaBank SA (Banks) | 3,695 | ||||||
�� | 39,550 | Corporacion Mapfre (Insurance) | 105 | |||||
20,236 | Enagas (Oil, Gas & Consumable Fuels) | 547 | ||||||
14,509 | Endesa (Electric Utilities) | 335 | ||||||
16,060 | Gas Natural SDG SA (Gas Utilities) | 410 | ||||||
270,181 | Iberdrola SA (Electric Utilities) | 2,169 | ||||||
19,394 | Red Electrica Corp. (Electric Utilities) | 432 | ||||||
103,104 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 1,657 | ||||||
201,756 | Telefonica SA (Diversified Telecommunication Services) | 1,698 | ||||||
|
| |||||||
14,564 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Sweden — 1.23% |
| |||||||
36,667 | Boliden AB (Metals & Mining) | $ | 795 | |||||
40,276 | Electrolux AB, B Shares (Household Durables) | 849 | ||||||
142,754 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 2,031 | ||||||
105,836 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 1,029 | ||||||
48,917 | Skanska AB, B Shares (Construction & Engineering) | 780 | ||||||
51,343 | SKF AB, B Shares (Machinery) | 781 | ||||||
98,600 | Svenska Handelsbanken AB, A Shares (Banks) | 1,098 | ||||||
58,135 | Swedbank AB, A Shares (Banks) | 1,301 | ||||||
25,365 | Swedish Match AB (Tobacco) | 999 | ||||||
34,889 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 445 | ||||||
251,301 | TeliaSonera AB (Diversified Telecommunication Services) | 1,196 | ||||||
|
| |||||||
11,304 | ||||||||
|
| |||||||
Switzerland — 9.86% |
| |||||||
836,938 | ABB Ltd., Registered Shares (Electrical Equipment) | 15,989 | ||||||
19,923 | Adecco SA, Registered Shares (Professional Services) | 937 | ||||||
2,281 | Baloise Holding AG, Registered Shares (Insurance) | 315 | ||||||
110,819 | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | 7,149 | ||||||
4,111 | Dufry AG (Specialty Retail) | 392 | ||||||
1,028 | EMS-Chemie Holding AG, Registered Shares (Chemicals) | 490 | ||||||
46,882 | Ferguson PLC (Trading Companies & Distributors) | 2,995 | ||||||
1,864 | Givaudan SA (Chemicals) | 4,323 | ||||||
16,754 | Idorsia Ltd. (Biotechnology) (a)(b) | 279 | ||||||
7,312 | Julius Baer Group Ltd. (Capital Markets) | 261 | ||||||
6,817 | Kuehne & Nagel International Ltd. (Marine) | 878 | ||||||
60,566 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 2,500 | ||||||
9,354 | Lonza Group AG (Life Sciences Tools & Services) | 2,433 | ||||||
77,117 | Nestle SA (Food Products) | 6,262 | ||||||
213,668 | Novartis AG, Registered Shares (Pharmaceuticals) | 18,306 | ||||||
1,249 | Pargesa Holding SA (Diversified Financial Services) | 90 | ||||||
71,465 | Roche Holding AG (Pharmaceuticals) | 17,749 | ||||||
657 | SGS SA, Registered Shares (Professional Services) | 1,479 | ||||||
7,675 | Sonova Holding AG, Registered Shares (Health Care Equipment & Supplies) (b) | 1,263 | ||||||
1,563 | Swiss Life Holding AG (Insurance) | 604 | ||||||
4,692 | Swiss Prime Site AG (Real Estate Management & Development) | 380 | ||||||
14,654 | Swiss Re AG (Insurance) | 1,349 | ||||||
1,604 | Swisscom AG (Diversified Telecommunication Services) | 767 | ||||||
120,527 | UBS Group AG (Capital Markets) | 1,504 | ||||||
7,016 | Zurich Financial Services AG (Insurance) | 2,092 | ||||||
|
| |||||||
90,786 | ||||||||
|
|
See accompanying notes to financial statements.
97
Table of Contents
HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
United Kingdom — 25.28% |
| |||||||
7,967 | Admiral Group PLC (Insurance) | $ | 208 | |||||
32,616 | Aon PLC (Insurance) | 4,741 | ||||||
126,861 | AstraZeneca PLC (Pharmaceuticals) | 9,468 | ||||||
2,332 | Aveva Group PLC (Software) | 72 | ||||||
1,632,212 | Aviva PLC (Insurance) | 7,811 | ||||||
28,759 | Babcock International Group PLC (Commercial Services & Supplies) | 179 | ||||||
334,720 | BAE Systems PLC (Aerospace & Defense) | 1,957 | ||||||
1,252,516 | Balfour Beatty PLC (Construction & Engineering) | 3,978 | ||||||
5,455,202 | Barclays PLC (Banks) | 10,436 | ||||||
110,755 | Barratt Developments PLC (Household Durables) | 653 | ||||||
2,612,906 | BP PLC (Oil, Gas & Consumable Fuels) | 16,516 | ||||||
567,547 | British American Tobacco PLC (Tobacco) | 18,056 | ||||||
56,327 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 383 | ||||||
441,524 | BT Group PLC (Diversified Telecommunication Services) | 1,342 | ||||||
103,839 | Carnival PLC (Hotels, Restaurants & Leisure) | 4,986 | ||||||
286,785 | Centrica PLC (Multi-Utilities) | 495 | ||||||
4,337,693 | Cobham PLC (Aerospace & Defense) (a) | 5,407 | ||||||
854,388 | ConvaTec Group PLC (Health Care Equipment & Supplies) (b) | 1,513 | ||||||
54,692 | Direct Line Insurance Group PLC (Insurance) | 222 | ||||||
164,341 | G4S PLC (Commercial Services & Supplies) | 415 | ||||||
635,301 | GlaxoSmithKline PLC (Pharmaceuticals) | 12,106 | ||||||
47,347 | Hammerson PLC (Equity Real Estate Investment Trusts) | 199 | ||||||
1,027,501 | HSBC Holdings PLC (Banks) | 8,475 | ||||||
101,181 | Imperial Tobacco Group PLC (Tobacco) | 3,071 | ||||||
18,067 | Investec PLC (Capital Markets) | 102 | ||||||
394,557 | ITV PLC (Media) | 628 | ||||||
74,439 | Johnson Matthey PLC (Chemicals) | 2,657 | ||||||
41,997 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 431 | ||||||
235,539 | Legal & General Group PLC (Insurance) | 694 | ||||||
157,799 | Linde PLC (Chemicals) | 25,047 | ||||||
9,747,316 | Lloyds Banking Group PLC (Banks) | 6,424 | ||||||
44,651 | London Stock Exchange Group (Capital Markets) | 2,316 | ||||||
179,061 | Marks & Spencer Group PLC (Multiline Retail) | 562 | ||||||
273,026 | Micro Focus International PLC (Software) | 4,782 | ||||||
187,884 | National Grid PLC (Multi-Utilities) | 1,837 | ||||||
15,647 | Next PLC (Multiline Retail) | 796 | ||||||
34,682 | Persimmon PLC (Household Durables) | 854 | ||||||
716,835 | Prudential PLC (Insurance) | 12,799 | ||||||
8,265 | Relx PLC (Professional Services) | 170 | ||||||
448,895 | Rentokil Initial PLC (Commercial Services & Supplies) | 1,931 | ||||||
135,120 | Rio Tinto PLC (Metals & Mining) | 6,470 | ||||||
738,201 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 7,777 | ||||||
178,120 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 5,242 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) |
| |||||||
505,827 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | $ | 15,121 | |||||
96,134 | Royal Mail PLC (Air Freight & Logistics) | 334 | ||||||
13,247 | Severn Trent PLC (Water Utilities) | 307 | ||||||
690,220 | SSE PLC (Electric Utilities) | 9,530 | ||||||
69,472 | Standard Life Aberdeen PLC (Diversified Financial Services) | 227 | ||||||
371,930 | Taylor Wimpey PLC (Household Durables) | 647 | ||||||
37,276 | United Utilities Group PLC (Water Utilities) | 350 | ||||||
4,860,211 | Vodafone Group PLC (Wireless Telecommunication Services) | 9,448 | ||||||
18,393 | Willis Towers Watson PLC (Insurance) | 2,793 | ||||||
|
| |||||||
232,965 | ||||||||
|
| |||||||
United States — 0.16% |
| |||||||
667 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | 1,001 | ||||||
4,450 | WABCO Holdings, Inc. (Machinery) (a) | 478 | ||||||
|
| |||||||
1,479 | ||||||||
|
| |||||||
Total Common Stocks | 930,929 | |||||||
|
| |||||||
Preferred Stocks — 2.40% |
| |||||||
Brazil — 0.39% |
| |||||||
613,795 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) (a) | 3,592 | ||||||
|
| |||||||
Germany — 2.01% |
| |||||||
3,614 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 258 | ||||||
22,882 | Henkel AG & Co. KGaA – Preferred (Household Products) | 2,499 | ||||||
9,665 | Porsche Automobil Holding SE – Preferred (Automobiles) | 568 | ||||||
95,561 | Volkswagen AG – Preferred (Automobiles) | 15,236 | ||||||
|
| |||||||
18,561 | ||||||||
|
| |||||||
Total Preferred Stocks | 22,153 | |||||||
|
| |||||||
Rights — 0.01% |
| |||||||
Spain — 0.01% |
| |||||||
111,601 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | 51 | ||||||
|
| |||||||
United Kingdom — 0.00% |
| |||||||
30,367,544 | Rolls-Royce Holdings PLC (Aerospace & Defense) (a) | 39 | ||||||
|
| |||||||
Total Rights | 90 | |||||||
|
| |||||||
Investment Companies — 0.61% |
| |||||||
462,070 | Dreyfus Treasury Prime Cash Management Fund, Institutional Shares, 2.20% (c) | 462 | ||||||
2,955,116 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (c) | 2,956 | ||||||
2,168,804 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (c) | 2,168 | ||||||
|
| |||||||
Total Investment Companies | 5,586 | |||||||
|
|
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Value (000) | ||||||
Repurchase Agreement — 0.48% |
| |||||||
$ | 4,459 | Jefferies LLC, 3.10%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $4,460,115 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $4,548,534)^^ | $ | 4,459 | ||||
|
| |||||||
Total Repurchase Agreement | 4,459 | |||||||
|
| |||||||
Total Investments | 963,217 | |||||||
Liabilities in excess of | (42,046 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 921,171 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $19,506 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Representsnon-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The International Equity Portfolio | Artisan Partners LP | Cadence Capital Management, LLC | Causeway Capital Management LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 16.30 | % | 45.54 | % | 39.22 | % | — | — | 101.06 | % | ||||||||||||||
Preferred Stocks | 0.66 | % | 0.09 | % | 1.65 | % | — | — | 2.40 | % | ||||||||||||||
Rights | — | 0.01 | % | 0.00 | % | — | — | 0.01 | % | |||||||||||||||
Investment Companies | — | 0.12 | % | 0.25 | % | — | 0.24 | % | 0.61 | % | ||||||||||||||
Repurchase Agreement | — | 0.11 | % | 0.37 | % | — | — | 0.48 | % | |||||||||||||||
Other Assets (Liabilities) | 0.55 | % | 1.15 | % | 0.02 | % | -6.28 | % | 0.00 | % | -4.56 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 17.51 | % | 47.02 | % | 41.51 | % | -6.28 | %^ | 0.24 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
^ | Temporarily represents a negative balance due to the timing of cash settlements. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
99
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HC CAPITAL TRUST
The International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Sold^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
MSCI EAFE Index Future | 347 | 3/15/19 | $ | 29,773 | $ | (4 | ) | |||||||
|
|
|
| |||||||||||
$ | 29,773 | $ | (4 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (4 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (4 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Forward Currency Contracts
Short Contracts
Description and | Description and | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
U.S. Dollar | 6 | Japanese Yen | 667 | BNY Capital Markets | 1/4/19 | $ | — | |||||||||||||
U.S. Dollar | 6 | Japanese Yen | 687 | Deutsche Bank | 1/7/19 | — | ||||||||||||||
U.S. Dollar | 3,694 | Japanese Yen | 407,670 | Deutsche Bank | 1/8/19 | (29 | ) | |||||||||||||
|
| |||||||||||||||||||
$ | (29 | ) | ||||||||||||||||||
|
|
Long Contracts
Description and | Description and | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Japanese Yen | 13,864 | U.S. Dollar | 126 | Mellon Bank | 1/8/19 | $ | 1 | |||||||||||||
|
| |||||||||||||||||||
$ | 1 | |||||||||||||||||||
|
| |||||||||||||||||||
Total Unrealized Appreciation |
| $ | 1 | |||||||||||||||||
Total Unrealized Depreciation |
| (29 | ) | |||||||||||||||||
|
| |||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (28 | ) | ||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
100
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HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 91.13% | ||||||||
Australia — 5.28% |
| |||||||
79,545 | AGL Energy Ltd. (Multi-Utilities) | $ | 1,155 | |||||
744,331 | Alumina Ltd. (Metals & Mining) | 1,205 | ||||||
194,792 | AMP Ltd. (Diversified Financial Services) | 336 | ||||||
138,063 | APA Group (Gas Utilities) | 827 | ||||||
112,377 | Aristocrat Leisure Ltd. (Hotels, Restaurants & Leisure) | 1,729 | ||||||
498,116 | Aurizon Holdings Ltd. (Road & Rail) | 1,502 | ||||||
260,260 | AusNet Services (Electric Utilities) | 285 | ||||||
284,732 | Australia & New Zealand Banking Group Ltd. (Banks) | 4,919 | ||||||
41,125 | Bank of Queensland Ltd. (Banks) | 281 | ||||||
49,394 | Bendigo & Adelaide Bank Ltd. (Banks) | 375 | ||||||
609,411 | BHP Billiton Ltd. (Metals & Mining) | 14,728 | ||||||
710,871 | BHP Group PLC (Metals & Mining) | 15,020 | ||||||
90,041 | BlueScope Steel Ltd. (Metals & Mining) | 694 | ||||||
221,128 | Boral Ltd. (Construction Materials) | 769 | ||||||
59,910 | CIMIC Group Ltd. (Construction & Engineering) | 1,832 | ||||||
231,269 | Coca-Cola Amatil Ltd. (Beverages) | 1,334 | ||||||
6,526 | Cochlear Ltd. (Health Care Equipment & Supplies) | 799 | ||||||
59,964 | Coles Group Ltd. (Food & Staples Retailing) (a) | 496 | ||||||
169,614 | Commonwealth Bank of Australia (Banks) | 8,650 | ||||||
99,400 | Crown Resorts Ltd. (Hotels, Restaurants & Leisure) | 831 | ||||||
41,108 | CSL Ltd. (Biotechnology) | 5,368 | ||||||
229,300 | GPT Group (Equity Real Estate Investment Trusts) | 863 | ||||||
164,573 | Harvey Norman Holdings Ltd. (Multiline Retail)^ | 366 | ||||||
168,676 | Inghams Group Ltd. (Food Products)^ | 491 | ||||||
218,767 | Insurance Australia Group Ltd. (Insurance) | 1,079 | ||||||
55,139 | Lend Lease Group Ltd. (Real Estate Management & Development) | 452 | ||||||
129,974 | Link Administration Holdings Ltd. (IT Services) | 620 | ||||||
21,247 | Macquarie Group Ltd. (Capital Markets) | 1,627 | ||||||
201,368 | Medibank Private Ltd. (Insurance) | 364 | ||||||
478,818 | Mirvac Group (Equity Real Estate Investment Trusts) | 756 | ||||||
255,771 | National Australia Bank Ltd. (Banks) | 4,339 | ||||||
348,140 | Qantas Airways Ltd. (Airlines) | 1,420 | ||||||
84,536 | Regis Resources Ltd. (Metals & Mining) | 288 | ||||||
74,859 | Rio Tinto Ltd. (Metals & Mining) | 4,143 | ||||||
50,226 | Sandfire Resources NL (Metals & Mining) | 236 | ||||||
616,929 | Saracen Mineral Holdings Ltd. (Metals & Mining) (a) | 1,275 | ||||||
667,895 | Scentre Group (Equity Real Estate Investment Trusts) | 1,836 | ||||||
33,638 | Smartgroup Corp. Ltd. (Commercial Services & Supplies) | 211 | ||||||
318,303 | Stockland Trust Group (Equity Real Estate Investment Trusts) | 789 | ||||||
123,361 | Suncorp Group Ltd. (Insurance) | 1,098 | ||||||
279,428 | Sydney Airport (Transportation Infrastructure) | 1,325 | ||||||
486,194 | Tabcorp Holdings Ltd. (Hotels, Restaurants & Leisure) | 1,470 |
Shares | Security Description | Value (000) | ||||||
Australia (continued) |
| |||||||
601,647 | Telstra Corp. Ltd. (Diversified Telecommunication Services) | $ | 1,207 | |||||
563,826 | Transurban Group (Transportation Infrastructure) | 4,626 | ||||||
437,868 | Vicinity Centres (Equity Real Estate Investment Trusts) | 802 | ||||||
233,746 | Wesfarmers Ltd. (Food & Staples Retailing) | 5,309 | ||||||
325,271 | Westpac Banking Corp. (Banks) | 5,746 | ||||||
|
| |||||||
105,873 | ||||||||
|
| |||||||
Austria — 0.19% |
| |||||||
12,483 | ANDRITZ AG (Machinery) | 573 | ||||||
22,462 | Erste Group Bank AG (Banks) | 744 | ||||||
27,807 | OMV AG (Oil, Gas & Consumable Fuels) | 1,215 | ||||||
10,768 | Raiffeisen Bank International AG (Banks) | 275 | ||||||
32,391 | Voestalpine AG (Metals & Mining) | 966 | ||||||
|
| |||||||
3,773 | ||||||||
|
| |||||||
Belgium — 0.73% |
| |||||||
11,909 | Ageas (Insurance) | 536 | ||||||
184,859 | Anheuser-Busch InBev N.V. (Beverages) | 12,176 | ||||||
15,442 | Belgacom SA (Diversified Telecommunication Services) | 418 | ||||||
14,918 | KBC Groep N.V. (Banks) | 960 | ||||||
7,578 | UCB SA (Pharmaceuticals) | 619 | ||||||
|
| |||||||
14,709 | ||||||||
|
| |||||||
Bermuda — 0.03% |
| |||||||
218,500 | Yue Yuen Industrial Holdings Ltd. (Textiles, Apparel & Luxury Goods) | 700 | ||||||
|
| |||||||
Brazil — 0.25% |
| |||||||
104,382 | B3 SA (Capital Markets) | 722 | ||||||
334,076 | Petroleo Brasileiro SA, ADR (Oil, Gas & Consumable Fuels) | 4,346 | ||||||
|
| |||||||
5,068 | ||||||||
|
| |||||||
Canada — 1.45% |
| |||||||
20,713 | Canadian Imperial Bank of Commerce (Banks) | 1,543 | ||||||
16,680 | Canadian National Railway Co. (Road & Rail) | 1,236 | ||||||
12,104 | Canadian Pacific Railway Ltd. (Road & Rail) | 2,149 | ||||||
7,687 | Canadian Pacific Railway Ltd. (Road & Rail) | 1,365 | ||||||
11,172 | Dollarama, Inc. (Multiline Retail) | 266 | ||||||
999,849 | Encana Corp. (Oil, Gas & Consumable Fuels) | 5,772 | ||||||
6,174 | Fortis, Inc. (Electric Utilities) | 206 | ||||||
214,776 | Gildan Activewear, Inc. (Textiles, Apparel & Luxury Goods) | 6,520 | ||||||
702,100 | Manulife Financial Corp. (Insurance) | 9,963 | ||||||
|
| |||||||
29,020 | ||||||||
|
| |||||||
Chile — 0.05% |
| |||||||
103,329 | Antofagasta PLC (Metals & Mining) | 1,033 | ||||||
|
| |||||||
China — 1.25% |
| |||||||
54,394 | Baidu, Inc., ADR (Interactive Media & Services) (a) | 8,627 | ||||||
1,004,827 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 1,807 |
See accompanying notes to financial statements.
101
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HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) |
| |||||||
1,283,482 | China Mobile Ltd. (Wireless Telecommunication Services) | $ | 12,420 | |||||
22,000 | Jardine Matheson Holdings Ltd. (Industrial Conglomerates) | 1,532 | ||||||
7,504 | Kweichow Moutai Co. Ltd. (Beverages) | 648 | ||||||
|
| |||||||
25,034 | ||||||||
|
| |||||||
Denmark — 1.33% |
| |||||||
21,533 | Carlsberg A/S, Class – B (Beverages) | 2,291 | ||||||
55,742 | Danske Bank A/S (Banks) | 1,107 | ||||||
26,145 | Genmab A/S (Biotechnology) (a) | 4,300 | ||||||
6,364 | H. Lundbeck A/S (Pharmaceuticals) | 280 | ||||||
33,770 | ISS A/S (Commercial Services & Supplies) | 946 | ||||||
332,439 | Novo Nordisk A/S, Class – B (Pharmaceuticals) | 15,270 | ||||||
18,675 | Orsted A/S (Electric Utilities) | 1,250 | ||||||
22,993 | Pandora A/S (Textiles, Apparel & Luxury Goods) | 939 | ||||||
10,029 | Tryg A/S (Insurance) | 253 | ||||||
|
| |||||||
26,636 | ||||||||
|
| |||||||
Finland — 0.88% |
| |||||||
23,739 | Elisa Oyj (Diversified Telecommunication Services) | 983 | ||||||
201,514 | Fortum Oyj (Electric Utilities) | 4,411 | ||||||
9,223 | Neste Oil Oyj (Oil, Gas & Consumable Fuels) | 714 | ||||||
38,703 | Nokian Renkaat Oyj (Auto Components) | 1,189 | ||||||
458,217 | Nordea Bank Abp (Banks) | 3,859 | ||||||
34,684 | Orion Oyj, Class – B (Pharmaceuticals) | 1,206 | ||||||
57,929 | Sampo Oyj, Class – A (Insurance) | 2,567 | ||||||
103,615 | UPM-Kymmene Oyj (Paper & Forest Products) | 2,623 | ||||||
|
| |||||||
17,552 | ||||||||
|
| |||||||
France — 7.33% |
| |||||||
27,019 | AirFrance-KLM (Airlines) (a) | 293 | ||||||
44,699 | Air Liquide SA (Chemicals) | 5,550 | ||||||
12,308 | Amundi SA (Capital Markets) | 650 | ||||||
21,280 | Atos SE (IT Services) | 1,743 | ||||||
265,298 | AXA SA (Insurance) | 5,725 | ||||||
364,573 | BNP Paribas (Banks) | 16,462 | ||||||
51,081 | Bouygues SA (Construction & Engineering) | 1,834 | ||||||
12,689 | Casino Guichard-Perrachon SA (Food & Staples Retailing)^ | 528 | ||||||
14,931 | CNP Assurances (Insurance) | 317 | ||||||
114,240 | Compagnie de Saint-Gobain (Building Products) | 3,792 | ||||||
38,369 | Compagnie Generale des Etablissements Michelin, Class – B (Auto Components) | 3,776 | ||||||
132,889 | Credit Agricole SA (Banks) | 1,430 | ||||||
23,305 | Danone SA (Food Products) | 1,642 | ||||||
37,091 | Eiffage SA (Construction & Engineering) (b) | 3,100 | ||||||
204,752 | Electricite de France SA (Electric Utilities)^ | 3,240 | ||||||
428,172 | ENGIE (Multi-Utilities) | 6,152 | ||||||
37,598 | Eutelsat Communications (Media) | 741 | ||||||
25,922 | Faurecia (Auto Components) | 978 | ||||||
4,280 | Fonciere des Regions (Equity Real Estate Investment Trusts) | 413 |
Shares | Security Description | Value (000) | ||||||
France (continued) |
| |||||||
5,262 | Gecina SA (Equity Real Estate Investment Trusts) | $ | 681 | |||||
2,987 | Hermes International (Textiles, Apparel & Luxury Goods) | 1,659 | ||||||
4,568 | Icade (Equity Real Estate Investment Trusts) | 348 | ||||||
8,002 | Imerys SA (Construction Materials) | 385 | ||||||
13,712 | Ingenico Group SA (Electronic Equipment, Instruments & Components) | 778 | ||||||
14,441 | Ipsen SA (Pharmaceuticals) | 1,868 | ||||||
1,756 | Kering (Textiles, Apparel & Luxury Goods) | 823 | ||||||
24,830 | Klepierre (Equity Real Estate Investment Trusts) | 767 | ||||||
10,137 | L’Oreal SA (Personal Products) | 2,319 | ||||||
88,986 | Natixism SA (Capital Markets) | 420 | ||||||
224,276 | Orange SA (Diversified Telecommunication Services) | 3,634 | ||||||
139,551 | Peugeot SA (Automobiles) | 2,976 | ||||||
47,841 | Publicis Groupe (Media) | 2,729 | ||||||
43,764 | Renault SA (Automobiles) | 2,726 | ||||||
67,008 | Rexel SA (Trading Companies & Distributors) | 714 | ||||||
19,488 | Safran SA (Aerospace & Defense) (b) | 2,337 | ||||||
204,622 | Sanofi-Aventis (Pharmaceuticals) | 17,749 | ||||||
140,432 | Schneider Electric SA (Electrical Equipment) | 9,524 | ||||||
15,123 | SCOR SE (Insurance) | 680 | ||||||
6,113 | Societe BIC SA (Commercial Services & Supplies) | 624 | ||||||
73,660 | Societe Generale (Banks) | 2,335 | ||||||
45,157 | Suez Environnement Co. (Multi-Utilities) | 596 | ||||||
431,621 | Total SA (Oil, Gas & Consumable Fuels) | 22,763 | ||||||
21,475 | Unibail-Rodamco-Westfield (Equity Real Estate Investment Trusts) | 3,323 | ||||||
54,179 | Valeo SA (Auto Components) | 1,580 | ||||||
61,703 | Veolia Environnement (Multi-Utilities) | 1,263 | ||||||
36,046 | Vinci SA (Construction & Engineering) | 2,964 | ||||||
|
| |||||||
146,931 | ||||||||
|
| |||||||
Germany — 8.37% |
| |||||||
2,982 | Adidas AG (Textiles, Apparel & Luxury Goods) | 623 | ||||||
80,782 | Allianz SE (Insurance) | 16,232 | ||||||
7,247 | Axel Springer AG (Media) | 411 | ||||||
328,171 | BASF SE (Chemicals) | 22,854 | ||||||
137,495 | Bayer AG (Pharmaceuticals) | 9,561 | ||||||
50,123 | Bayerische Motoren Werke Aktiengesellschaft (Automobiles) | 4,065 | ||||||
37,565 | Beiersdorf AG (Personal Products) | 3,918 | ||||||
28,777 | Continental AG (Auto Components) | 4,006 | ||||||
65,041 | Covestro AG (Chemicals) | 3,221 | ||||||
145,849 | Daimler AG, Registered Shares (Automobiles) | 7,687 | ||||||
102,490 | Deutsche Boerse AG (Capital Markets) | 12,252 | ||||||
95,338 | Deutsche Lufthansa AG, Registered Shares (Airlines) | 2,153 | ||||||
616,255 | Deutsche Post AG (Air Freight & Logistics) | 16,827 | ||||||
249,506 | Deutsche Telekom AG (Diversified Telecommunication Services) | 4,241 | ||||||
4,866 | Drillisch AG (Wireless Telecommunication Services) | 248 | ||||||
164,671 | E.ON AG (Multi-Utilities) | 1,625 |
See accompanying notes to financial statements.
102
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Germany (continued) |
| |||||||
25,419 | Evonik Industries AG (Chemicals) | $ | 634 | |||||
24,899 | GEA Group AG (Machinery) | 641 | ||||||
3,783 | Hannover Rueckversicherung AG (Insurance) | 510 | ||||||
22,254 | HeidelbergCement AG (Construction Materials) | 1,364 | ||||||
27,106 | Hugo Boss AG (Textiles, Apparel & Luxury Goods) | 1,671 | ||||||
25,191 | Metro AG (Food & Staples Retailing) | 388 | ||||||
13,622 | MTU Aero Engines AG (Aerospace & Defense) | 2,473 | ||||||
8,857 | Muenchener Rueckversicherungs-Gesellschaft AG (Insurance) | 1,931 | ||||||
38,288 | ProSiebenSat.1 Media AG (Media) | 681 | ||||||
199,693 | SAP SE (Software) | 19,817 | ||||||
45,078 | Schaeffler AG (Auto Components) | 384 | ||||||
92,370 | Siemens AG (Industrial Conglomerates) | 10,307 | ||||||
9,223 | Siltronic AG (Semiconductors & Semiconductor Equipment) | 767 | ||||||
31,651 | Symrise AG (Chemicals) | 2,345 | ||||||
66,176 | Telefonica Deutschland Holding AG (Diversified Telecommunication Services) | 260 | ||||||
123,016 | TUI AG (Hotels, Restaurants & Leisure) | 1,768 | ||||||
14,797 | Uniper SE (Independent Power and Renewable Electricity Producers) | 382 | ||||||
36,303 | Vonovia SE (Real Estate Management & Development) | 1,636 | ||||||
66,497 | Wirecard AG (IT Services) | 10,023 | ||||||
|
| |||||||
167,906 | ||||||||
|
| |||||||
Hong Kong — 2.67% |
| |||||||
798,518 | AIA Group Ltd. (Insurance) (b) | 6,634 | ||||||
89,100 | ASM Pacific Technology Ltd. (Semiconductors & Semiconductor Equipment) | 860 | ||||||
403,005 | BOC Hong Kong (Holdings) Ltd. (Banks) | 1,496 | ||||||
582,000 | CK Asset Holdings Ltd. (Real Estate Management & Development) | 4,258 | ||||||
685,500 | CK Hutchison Holdings Ltd. (Industrial Conglomerates) | 6,580 | ||||||
97,000 | CK Infrastructure Holdings Ltd. (Electric Utilities) | 734 | ||||||
239,919 | CLP Holdings Ltd. (Electric Utilities) | 2,712 | ||||||
588,000 | Hanergy Thin Film Power Group Ltd. (Semiconductors & Semiconductor Equipment) (a) | — | ||||||
130,000 | Hang Lung Group Ltd. (Real Estate Management & Development) | 331 | ||||||
303,000 | Hang Lung Properties Ltd. (Real Estate Management & Development) | 576 | ||||||
110,609 | Hang Seng Bank Ltd. (Banks) | 2,478 | ||||||
189,414 | Henderson Land Development Co. Ltd. (Real Estate Management & Development) | 943 | ||||||
379,377 | HK Electric Investments Ltd. (Electric Utilities) | 382 | ||||||
540,000 | HKT Trust & HKT Ltd. (Diversified Telecommunication Services) | 778 | ||||||
167,300 | Hongkong Land Holdings Ltd. (Real Estate Management & Development) | 1,055 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) |
| |||||||
89,000 | Hysan Development Co. (Real Estate Management & Development) | $ | 423 | |||||
265,500 | Kerry Properties Ltd. (Real Estate Management & Development) | 906 | ||||||
357,000 | Lifestyle International Holdings Ltd. (Multiline Retail) | 541 | ||||||
893,000 | New World Development Co. Ltd. (Real Estate Management & Development) | 1,180 | ||||||
255,000 | NWS Holdings Ltd. (Industrial Conglomerates) | 524 | ||||||
639,000 | PCCW Ltd. (Diversified Telecommunication Services) | 368 | ||||||
205,538 | Power Assets Holdings Ltd. (Electric Utilities) | 1,428 | ||||||
870,800 | Sands China Ltd. (Hotels, Restaurants & Leisure) | 3,798 | ||||||
469,839 | Sino Land Co. Ltd. (Real Estate Management & Development) | 805 | ||||||
229,040 | Sun Hung Kai Properties Ltd. (Real Estate Management & Development) | 3,269 | ||||||
57,500 | Swire Pacific Ltd., Class – A (Real Estate Management & Development) | 607 | ||||||
52,500 | Techtronic Industries Co. (Household Durables) | 279 | ||||||
129,200 | The Bank of East Asia Ltd. (Banks) | 410 | ||||||
419,826 | The Link Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 4,256 | ||||||
204,000 | The Wharf (Holdings) Ltd. (Real Estate Management & Development) | 532 | ||||||
2,708,500 | WH Group Ltd. (Food Products) | 2,080 | ||||||
120,000 | Wheelock & Co. Ltd. (Real Estate Management & Development) | 687 | ||||||
492,400 | Wynn Macau Ltd. (Hotels, Restaurants & Leisure) | 1,072 | ||||||
490,000 | Xinyi Glass Holdings Ltd. (Auto Components) | 541 | ||||||
�� |
|
| ||||||
53,523 | ||||||||
|
| |||||||
Indonesia — 0.09% |
| |||||||
7,051,600 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 1,797 | ||||||
|
| |||||||
Ireland (Republic of) — 0.81% |
| |||||||
35,178 | AIB Group PLC (Banks) | 148 | ||||||
97,475 | CRH PLC (Construction Materials) | 2,581 | ||||||
104,240 | Experian PLC (Professional Services) | 2,527 | ||||||
5,177 | ICON PLC (Life Sciences Tools & Services) (a) | 669 | ||||||
97,578 | Medtronic PLC (Health Care Equipment & Supplies) | 8,876 | ||||||
9,723 | Paddy Power PLC (Hotels, Restaurants & Leisure) | 798 | ||||||
25,636 | Smurfit Kappa Group PLC (Containers & Packaging) | 682 | ||||||
|
| |||||||
16,281 | ||||||||
|
| |||||||
Israel — 0.29% |
| |||||||
13,700 | Attunity Ltd. (Software) (a) | 270 | ||||||
5,148 | Azrieli Group (Real Estate Management & Development) | 247 | ||||||
225,775 | Bank Hapoalim Ltd. (Banks) | 1,428 | ||||||
131,059 | Bank Leumi Le (Banks) | 793 |
See accompanying notes to financial statements.
103
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Israel (continued) |
| |||||||
669,697 | Bezeq The Israeli Telecommunication Corp. Ltd. (Diversified Telecommunication Services) | $ | 654 | |||||
321,067 | Israel Chemicals Ltd. (Chemicals) | 1,828 | ||||||
117,687 | Israel Discount Bank, Class – A (Banks) | 364 | ||||||
12,784 | Mizrahi Tefahot Bank Ltd. (Banks) | 216 | ||||||
|
| |||||||
5,800 | ||||||||
|
| |||||||
Italy — 2.59% |
| |||||||
344,937 | Assicurazioni Generali SpA (Insurance) | 5,764 | ||||||
94,868 | Atlantia SpA (Transportation Infrastructure) | 1,963 | ||||||
1,618,606 | Enel SpA (Electric Utilities) | 9,383 | ||||||
484,983 | Eni SpA (Oil, Gas & Consumable Fuels) | 7,660 | ||||||
51,403 | Fiat DaimlerChrysler Automobiles NV (Automobiles) (a) | 741 | ||||||
3,663,066 | Intesa Sanpaolo SpA (Banks) | 8,155 | ||||||
45,277 | Mediobanca SpA (Banks) | 383 | ||||||
93,164 | Poste Italiane SpA (Insurance) | 747 | ||||||
431,243 | Snam Rete Gas SpA (Oil, Gas & Consumable Fuels) | 1,888 | ||||||
602,917 | Telecom Italia SpA (Diversified Telecommunication Services) | 289 | ||||||
135,486 | Terna – Rete Elettrica Nazionale SpA (Electric Utilities) | 769 | ||||||
1,246,857 | Unicredit SpA (Banks) | 14,122 | ||||||
|
| |||||||
51,864 | ||||||||
|
| |||||||
Japan — 18.69% |
| |||||||
14,700 | Advantest Corp. (Semiconductors & Semiconductor Equipment) | 301 | ||||||
8,800 | AEON Credit Service Co. Ltd. (Consumer Finance) | 156 | ||||||
35,000 | Aisin Seiki Co. Ltd. (Auto Components) | 1,203 | ||||||
73,600 | Amada Holdings Co. Ltd. (Machinery) | 661 | ||||||
10,500 | Aozora Bank Ltd. (Banks) | 313 | ||||||
68,715 | Asahi Glass Co. Ltd. (Building Products) | 2,136 | ||||||
261,100 | Asahi Kasei Corp. (Chemicals) | 2,680 | ||||||
16,749 | Benesse Holdings, Inc. (Diversified Consumer Services) | 426 | ||||||
127,100 | Bridgestone Corp. (Auto Components) | 4,876 | ||||||
48,300 | Brother Industries Ltd. (Technology Hardware, Storage & Peripherals) | 715 | ||||||
73,100 | CALBEE, Inc. (Food Products) | 2,283 | ||||||
252,367 | Canon, Inc. (Technology Hardware, Storage & Peripherals)^ | 6,945 | ||||||
51,400 | Capcom Co. Ltd. (Entertainment) | 1,019 | ||||||
48,000 | Casio Computer Co. Ltd. (Household Durables) | 569 | ||||||
2,200 | Century Tokyo Leasing Corp. (Diversified Financial Services) | 97 | ||||||
65,100 | Chubu Electric Power Company, Inc. (Electric Utilities) | 925 | ||||||
91,500 | Concordia Financial Group Ltd. (Banks) | 350 | ||||||
8,400 | Credit Saison Co. Ltd. (Consumer Finance) | 98 | ||||||
51,339 | Dai Nippon Printing Co. Ltd. (Commercial Services & Supplies) | 1,072 | ||||||
207,900 | Daicel Corp. (Chemicals) | 2,135 | ||||||
7,867 | Daito Trust Construction Co. Ltd. (Real Estate Management & Development) | 1,077 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
178,200 | Daiwa House Industry Co. Ltd. (Real Estate Management & Development) | $ | 5,684 | |||||
181 | Daiwa House REIT Investment Corp. (Equity Real Estate Investment Trusts) | 406 | ||||||
94,300 | Daiwa Securities Group, Inc. (Capital Markets) | 479 | ||||||
21,700 | DeNA Co. Ltd. (Entertainment) | 362 | ||||||
90,000 | Denso Corp. (Auto Components) | 3,985 | ||||||
82,700 | DMG Mori Co. Ltd. (Machinery) | 929 | ||||||
130,600 | East Japan Railway Co. (Road & Rail) | 11,535 | ||||||
17,600 | Electric Power Development Co. Ltd. (Independent Power and Renewable Electricity Producers) | 418 | ||||||
84,500 | Fanuc Ltd. (Machinery) | 12,826 | ||||||
132,094 | Fuji Heavy Industries Ltd. (Automobiles) | 2,822 | ||||||
118,500 | FUJIFILM Holdings Corp. (Technology Hardware, Storage & Peripherals) | 4,594 | ||||||
40,900 | Fujitsu Ltd. (IT Services) | 2,550 | ||||||
25,600 | Fukuoka Financial Group, Inc. (Banks) | 519 | ||||||
18,500 | HASEKO Corp. (Household Durables) | 194 | ||||||
55,300 | Hino Motors Ltd. (Machinery) | 521 | ||||||
7,000 | Hirose Electric Co. Ltd. (Electronic Equipment, Instruments & Components) | 685 | ||||||
14,300 | Hitachi Capital Corp. (Consumer Finance) | 301 | ||||||
22,400 | Hitachi Chemical Co. Ltd. (Chemicals) | 337 | ||||||
22,400 | Hitachi Construction Machinery Co. Ltd. (Machinery) | 524 | ||||||
14,800 | Hitachi High-Technologies Corp. (Electronic Equipment, Instruments & Components) | 464 | ||||||
239,400 | Hitachi Ltd. (Electronic Equipment, Instruments & Components) | 6,348 | ||||||
45,600 | Hitachi Metals Ltd. (Metals & Mining) | 474 | ||||||
381,624 | Honda Motor Co. Ltd. (Automobiles) | 10,055 | ||||||
31,500 | Hulic Co. Ltd. (Real Estate Management & Development) | 282 | ||||||
32,400 | Iida Group Holdings Co. Ltd. (Household Durables) | 561 | ||||||
114,700 | Isuzu Motors Ltd. (Automobiles) | 1,609 | ||||||
293,968 | ITOCHU Corp. (Trading Companies & Distributors) | 4,993 | ||||||
228,300 | Japan Airlines Co. Ltd. (Airlines) | 8,092 | ||||||
138,900 | Japan Exchange Group, Inc. (Capital Markets) | 2,241 | ||||||
38,300 | Japan Post Bank Co. Ltd. (Banks) | 422 | ||||||
488,800 | Japan Post Holdings Co. Ltd. (Insurance) | 5,644 | ||||||
84 | Japan Prime Realty Investment Corp. (Equity Real Estate Investment Trusts) | 319 | ||||||
141 | Japan Real Estate Investment Corp. (Equity Real Estate Investment Trusts) | 792 | ||||||
281 | Japan Retail Fund Investment Corp. (Equity Real Estate Investment Trusts) | 561 | ||||||
232,597 | Japan Tobacco, Inc. (Tobacco)^ | 5,528 | ||||||
163,300 | JFE Holdings, Inc. (Metals & Mining) | 2,601 | ||||||
55,745 | JS Group Corp. (Building Products) | 691 | ||||||
75,483 | JSR Corp. (Chemicals) | 1,133 | ||||||
45,400 | JTEKT Corp. (Machinery) | 502 | ||||||
662,018 | JX Holdings, Inc. (Oil, Gas & Consumable Fuels) | 3,439 | ||||||
93,800 | Kajima Corp. (Construction & Engineering) | 1,260 | ||||||
11,400 | Kakaku.com, Inc. (Interactive Media & Services) | 202 |
See accompanying notes to financial statements.
104
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Japan (continued) |
| |||||||
30,300 | Kawasaki Heavy Industries Ltd. (Machinery) | $ | 647 | |||||
644,900 | KDDI Corp. (Wireless Telecommunication Services) | 15,412 | ||||||
189,700 | Komatsu Ltd. (Machinery) | 4,077 | ||||||
97,100 | Konica Minolta, Inc. (Technology Hardware, Storage & Peripherals) | 874 | ||||||
3,300 | Kose Corp. (Personal Products) | 518 | ||||||
69,329 | Kuraray Co. Ltd. (Chemicals) | 975 | ||||||
67,300 | Kyocera Corp. (Electronic Equipment, Instruments & Components) | 3,364 | ||||||
32,300 | Kyushu Railway Co. (Road & Rail) | 1,093 | ||||||
11,926 | Lawson, Inc. (Food & Staples Retailing) | 754 | ||||||
23,500 | Maeda Corp. (Construction & Engineering) | 219 | ||||||
328,831 | Marubeni Corp. (Trading Companies & Distributors) | 2,308 | ||||||
12,577 | Maruichi Steel Tube Ltd. (Metals & Mining) | 395 | ||||||
121,300 | Mazda Motor Corp. (Automobiles) | 1,247 | ||||||
83,200 | Mebuki Financial Group, Inc. (Banks) | 220 | ||||||
273,800 | Mitsubishi Chemical Holdings Corp. (Chemicals) | 2,069 | ||||||
282,840 | Mitsubishi Corp. (Trading Companies & Distributors) | 7,755 | ||||||
377,700 | Mitsubishi Electric Corp. (Electrical Equipment) | 4,166 | ||||||
34,900 | Mitsubishi Gas Chemical Co., Inc. (Chemicals) | 523 | ||||||
73,700 | Mitsubishi Heavy Industries Ltd. (Machinery) | 2,645 | ||||||
21,400 | Mitsubishi Materials Corp. (Metals & Mining) | 564 | ||||||
50,843 | Mitsubishi Tanabe Pharma Corp. (Pharmaceuticals) | 734 | ||||||
1,353,482 | Mitsubishi UFJ Financial Group, Inc. (Banks) | 6,643 | ||||||
25,700 | Mitsubishi UFJ Lease & Finance Co. Ltd. (Diversified Financial Services) | 123 | ||||||
342,826 | Mitsui & Co. Ltd. (Trading Companies & Distributors) | 5,268 | ||||||
38,800 | Mitsui Chemicals, Inc. (Chemicals) | 876 | ||||||
1,901,192 | Mizuho Financial Group, Inc. (Banks) | 2,942 | ||||||
122,500 | MS&AD Insurance Group Holdings, Inc. (Insurance) | 3,483 | ||||||
24,000 | Nabtesco Corp. (Machinery) | 520 | ||||||
42,100 | Namco Bandai Holdings, Inc. (Leisure Products) | 1,891 | ||||||
54,100 | NEC Corp. (Technology Hardware, Storage & Peripherals) | 1,609 | ||||||
85,500 | Nexon Co. Ltd. (Entertainment) (a) | 1,104 | ||||||
54,800 | NGK Insulators Ltd. (Machinery) | 743 | ||||||
20,000 | NH Foods Ltd. (Food Products) | 752 | ||||||
68,400 | Nikon Corp. (Household Durables) | 1,019 | ||||||
144 | Nippon Building Fund, Inc. (Equity Real Estate Investment Trusts) | 906 | ||||||
19,400 | Nippon Electric Glass Co. Ltd. (Electronic Equipment, Instruments & Components) | 475 | ||||||
198 | Nippon Prologis REIT, Inc. (Equity Real Estate Investment Trusts) | 418 | ||||||
39,000 | Nippon Shinyaku Co. Ltd. (Pharmaceuticals) | 2,472 | ||||||
175,500 | Nippon Steel & Sumitomo Metal Corp. (Metals & Mining) | 3,016 |
Shares | Security Description | Value (000) | ||||||
Japan (continued) |
| |||||||
73,800 | Nippon Telegraph & Telephone Corp. (Diversified Telecommunication Services) | $ | 3,011 | |||||
477,479 | Nissan Motor Co. Ltd. (Automobiles) | 3,820 | ||||||
54,100 | Nitto Denko Corp. (Chemicals) | 2,713 | ||||||
377,400 | Nomura Holdings, Inc. (Capital Markets) | 1,430 | ||||||
14,900 | Nomura Real Estate Holdings, Inc. (Real Estate Management & Development) | 273 | ||||||
432 | Nomura Real Estate Master Fund, Inc. (Equity Real Estate Investment Trusts) | 568 | ||||||
25,000 | Nomura Research Institute Ltd. (IT Services) | 927 | ||||||
77,300 | NSK Ltd. (Machinery) | 663 | ||||||
352,800 | NTT DoCoMo, Inc. (Wireless Telecommunication Services) | 7,928 | ||||||
136,500 | Obayashi Corp. (Construction & Engineering) | 1,236 | ||||||
40,400 | OMRON Corp. (Electronic Equipment, Instruments & Components) | 1,465 | ||||||
280,600 | ORIX Corp. (Diversified Financial Services) | 4,101 | ||||||
39,195 | Osaka Gas Co. Ltd. (Gas Utilities) | 715 | ||||||
463,200 | Panasonic Corp. (Household Durables) | 4,162 | ||||||
23,300 | Park24 Co. Ltd. (Commercial Services & Supplies) | 513 | ||||||
19,900 | Pola Orbis Holdings, Inc. (Personal Products) | 537 | ||||||
19,600 | Raysum Co. Ltd. (Real Estate Management & Development) | 174 | ||||||
163,185 | Resona Holdings, Inc. (Banks) | 783 | ||||||
141,100 | Ricoh Co. Ltd. (Technology Hardware, Storage & Peripherals) | 1,379 | ||||||
11,204 | Sankyo Co. Ltd. (Leisure Products) | 426 | ||||||
11,600 | SBI Holdings, Inc. (Capital Markets) | 226 | ||||||
40,300 | Sega Sammy Holdings, Inc. (Leisure Products) | 562 | ||||||
58,769 | Seiko Epson Corp. (Technology Hardware, Storage & Peripherals) | 821 | ||||||
79,300 | Sekisui Chemical Co. Ltd. (Household Durables) | 1,179 | ||||||
130,865 | Sekisui House Ltd. (Household Durables) | 1,922 | ||||||
45,000 | Seven & I Holdings Co. Ltd. (Food & Staples Retailing) | 1,956 | ||||||
54,100 | Seven Bank Ltd. (Banks) | 154 | ||||||
4,700 | Shimamura Co. Ltd. (Specialty Retail) | 360 | ||||||
9,100 | Shin-Etsu Chemical Co. Ltd. (Chemicals) | 699 | ||||||
26,800 | Shionogi & Co. Ltd. (Pharmaceuticals) | 1,530 | ||||||
19,500 | Showa Denko KK (Chemicals)^ | 579 | ||||||
37,600 | Showa Shell Sekiyu KK (Oil, Gas & Consumable Fuels) | 521 | ||||||
254,700 | Sompo Japan Nipponkoa Holdings, Inc. (Insurance) | 8,653 | ||||||
16,700 | Sony Financial Holdings, Inc. (Insurance) | 311 | ||||||
309,600 | Sumitomo Chemical Co. Ltd. (Chemicals) | 1,500 | ||||||
233,400 | Sumitomo Corp. (Trading Companies & Distributors) | 3,312 | ||||||
161,200 | Sumitomo Electric Industries Ltd. (Auto Components) | 2,135 | ||||||
24,100 | Sumitomo Heavy Industries Ltd. (Machinery) | 715 | ||||||
48,700 | Sumitomo Metal Mining Co. Ltd. (Metals & Mining) | 1,304 | ||||||
91,900 | Sumitomo Mitsui Construction (Construction & Engineering) | 558 | ||||||
256,123 | Sumitomo Mitsui Financial Group, Inc. (Banks) | 8,444 | ||||||
67,900 | Sumitomo Mitsui Trust Holdings, Inc. (Banks) | 2,473 |
See accompanying notes to financial statements.
105
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Japan (continued) |
| |||||||
35,331 | Sumitomo Rubber Industries Ltd. (Auto Components) | $ | 416 | |||||
37,000 | SUZUKEN Co. Ltd. (Health Care Providers & Services) | 1,884 | ||||||
44,500 | T&D Holdings, Inc. (Insurance) | 515 | ||||||
81,200 | Taisei Corp. (Construction & Engineering) | 3,479 | ||||||
88,300 | Taiyo Nippon Sanso Corp. (Chemicals) | 1,436 | ||||||
572,685 | Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals)^ | 19,414 | ||||||
27,800 | TDK Corp. (Electronic Equipment, Instruments & Components) | 1,946 | ||||||
40,200 | Teijin Ltd. (Chemicals) | 642 | ||||||
39,100 | The Chiba Bank Ltd. (Banks) | 218 | ||||||
31,700 | The Chugoku Electric Power Company, Inc. (Electric Utilities) | 412 | ||||||
107,000 | TheDai-ichi Life Insurance Co. Ltd. (Insurance) | 1,662 | ||||||
75,700 | The Kansai Electric Power Co., Inc. (Electric Utilities) | 1,136 | ||||||
75,300 | The Shizuoka Bank Ltd. (Banks) | 587 | ||||||
24,300 | The Yokohama Rubber Co. Ltd. (Auto Components) | 455 | ||||||
25,900 | THK Co. Ltd. (Machinery) | 484 | ||||||
48,300 | Tohoku Electric Power Co., Inc. (Electric Utilities) | 636 | ||||||
18,000 | Tokai Carbon Co. Ltd. (Chemicals)^ | 204 | ||||||
53,300 | Tokio Marine Holdings, Inc. (Insurance) | 2,533 | ||||||
50,400 | Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 5,674 | ||||||
63,600 | Tokyo Fudosan Holdings Corp. (Real Estate Management & Development) | 314 | ||||||
46,400 | Tokyo Gas Co. Ltd. (Gas Utilities) | 1,174 | ||||||
50,900 | Toppan Printing Co. Ltd. (Commercial Services & Supplies) | 748 | ||||||
55,400 | Tosoh Corp. (Chemicals) | 719 | ||||||
32,500 | Toyo Seikan Kaisha Ltd. (Containers & Packaging) | 744 | ||||||
13,800 | Toyoda Gosei Co. Ltd. (Auto Components) | 272 | ||||||
30,500 | Toyota Industries Corp. (Auto Components) | 1,405 | ||||||
260,500 | Toyota Motor Corp. (Automobiles) | 15,083 | ||||||
44,200 | Toyota Tsusho Corp. (Trading Companies & Distributors) | 1,299 | ||||||
25,100 | Trend Micro, Inc. (Software) | 1,356 | ||||||
333 | United Urban Investment Corp. (Equity Real Estate Investment Trusts) | 516 | ||||||
46,700 | USS Co. Ltd. (Specialty Retail) | 784 | ||||||
19,400 | UT Group Co. Ltd. (Professional Services)^ (a) | 333 | ||||||
1,500 | V Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 169 | ||||||
39,700 | West Japan Railway Co. (Road & Rail) | 2,805 | ||||||
596,000 | Yahoo Japan Corp. (Interactive Media & Services) | 1,483 | ||||||
136,400 | Yamada Denki Co. Ltd. (Specialty Retail)^ | 655 | ||||||
57,300 | Yamaha Motor Co. Ltd. (Automobiles) | 1,119 | ||||||
46,000 | Yokogawa Electric Corp. (Electronic Equipment, Instruments & Components) | 794 | ||||||
|
| |||||||
374,983 | ||||||||
|
|
Shares | Security Description | Value (000) | ||||||
Jersey — 0.18% |
| |||||||
331,338 | WPP PLC (Media) | $ | 3,605 | |||||
|
| |||||||
Luxembourg — 0.13% |
| |||||||
10,931 | Millicom International Cellular SA (Wireless Telecommunication Services) | 692 | ||||||
6,064 | RTL Group (Media) | 325 | ||||||
80,531 | SES – FDR, Class – A (Media) | 1,542 | ||||||
|
| |||||||
2,559 | ||||||||
|
| |||||||
Netherlands — 3.64% |
| |||||||
25,325 | ABN AMRO Group N.V. (Banks) | 596 | ||||||
264,476 | AEGON N.V. (Insurance) | 1,238 | ||||||
74,566 | Airbus Group N.V. (Aerospace & Defense) | 7,108 | ||||||
188,889 | Akzo Nobel N.V. (Chemicals) | 15,210 | ||||||
5,166 | ASML Holding N.V. (Semiconductors & Semiconductor Equipment) | 809 | ||||||
10,592 | Euronext N.V. (Capital Markets) | 610 | ||||||
1,340,361 | ING Groep N.V. (Banks) | 14,416 | ||||||
270,582 | Koninklijke (Royal) KPN N.V. (Diversified Telecommunication Services) | 790 | ||||||
269,323 | Koninklijke Ahold Delhaize N.V. (Food & Staples Retailing) | 6,803 | ||||||
32,120 | Koninklijke DSM N.V. (Chemicals) | 2,605 | ||||||
17,700 | NN Group N.V. (Insurance) | 704 | ||||||
17,896 | Randstad Holding N.V. (Professional Services) | 820 | ||||||
340,598 | Unilever N.V. (Personal Products) | 18,449 | ||||||
49,674 | Wolters Kluwer N.V. (Professional Services) | 2,921 | ||||||
|
| |||||||
73,079 | ||||||||
|
| |||||||
New Zealand — 0.06% |
| |||||||
81,756 | A2 Milk Co. Ltd. (Food Products) (a) | 614 | ||||||
30,769 | Auckland International Airport Ltd. (Transportation Infrastructure) | 148 | ||||||
60,243 | Meridian Energy Ltd. (Independent Power and Renewable Electricity Producers) | 138 | ||||||
134,523 | Telecom Corporation of New Zealand Ltd. (Diversified Telecommunication Services) | 375 | ||||||
|
| |||||||
1,275 | ||||||||
|
| |||||||
Norway — 0.72% |
| |||||||
24,396 | Aker BP ASA (Oil, Gas & Consumable Fuels) | 616 | ||||||
133,040 | DNB ASA (Banks) | 2,137 | ||||||
169,954 | DNO International ASA (Oil, Gas & Consumable Fuels) | 247 | ||||||
197,357 | Equinor ASA (Oil, Gas & Consumable Fuels) | 4,189 | ||||||
28,511 | Gjensidige Forsikring ASA (Insurance) | 446 | ||||||
144,817 | Marine Harvest ASA (Food Products) | 3,054 | ||||||
16,472 | Salmar ASA (Food Products) | 818 | ||||||
147,164 | Telenor ASA (Diversified Telecommunication Services) | 2,860 | ||||||
|
| |||||||
14,367 | ||||||||
|
| |||||||
Portugal — 0.13% |
| |||||||
447,313 | EDP – Energias de Portugal SA (Electric Utilities) | 1,565 | ||||||
83,411 | Jeronimo Martins, SGPS, SA (Food & Staples Retailing) | 988 | ||||||
|
| |||||||
2,553 | ||||||||
|
|
See accompanying notes to financial statements.
106
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Russia — 0.13% |
| |||||||
144,060 | MMC Norilsk Nickel PJSC, ADR (Metals & Mining) | $ | 2,703 | |||||
|
| |||||||
Singapore — 1.32% |
| |||||||
826,400 | Ascendas Real Estate Investment Trust (Equity Real Estate Investment Trusts) | 1,559 | ||||||
867,209 | CapitaCommercial Trust (Equity Real Estate Investment Trusts) | 1,114 | ||||||
835,300 | CapitaMall Trust (Equity Real Estate Investment Trusts) | 1,386 | ||||||
409,000 | China Sunsine Chemical Holdings Ltd. (Chemicals) | 379 | ||||||
1,271,100 | ComfortDelGro Corp. Ltd. (Road & Rail) | 2,008 | ||||||
320,200 | DBS Group Holdings Ltd. (Banks) | 5,571 | ||||||
214,800 | Singapore Airlines Ltd. (Airlines) | 1,484 | ||||||
134,900 | Singapore Exchange Ltd. (Capital Markets) | 707 | ||||||
710,347 | Singapore Press Holdings Ltd. (Media) | 1,224 | ||||||
701,000 | Singapore Tech Engineering (Aerospace & Defense) | 1,797 | ||||||
2,513,010 | Singapore Telecommunications Ltd. (Diversified Telecommunication Services) | 5,411 | ||||||
773,180 | Suntec REIT (Equity Real Estate Investment Trusts) | 1,009 | ||||||
3,002,000 | Yangzijiang Shipbuilding Holdings Ltd. (Machinery) | 2,759 | ||||||
|
| |||||||
26,408 | ||||||||
|
| |||||||
South Korea — 0.95% |
| |||||||
192,950 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 6,718 | ||||||
10,351 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | 1,662 | ||||||
44,071 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 10,634 | ||||||
|
| |||||||
19,014 | ||||||||
|
| |||||||
Spain — 1.85% |
| |||||||
39,005 | Amadeus IT Holding SA, A Shares (IT Services) | 2,714 | ||||||
898,023 | Banco Bilbao Vizcaya Argentaria SA (Banks) | 4,769 | ||||||
400,933 | Banco de Sabadell SA (Banks) | 459 | ||||||
1,161,762 | Banco Santander SA (Banks) | 5,274 | ||||||
1,127,552 | CaixaBank SA (Banks) | 4,083 | ||||||
98,542 | Corporacion Mapfre (Insurance) | 262 | ||||||
50,136 | Enagas (Oil, Gas & Consumable Fuels) | 1,355 | ||||||
35,568 | Endesa (Electric Utilities) | 820 | ||||||
39,680 | Gas Natural SDG SA (Gas Utilities) | 1,012 | ||||||
657,132 | Iberdrola SA (Electric Utilities) | 5,276 | ||||||
67,488 | Industria de Diseno Textil SA (Specialty Retail) | 1,722 | ||||||
48,506 | Red Electrica Corp. (Electric Utilities) | 1,082 | ||||||
255,118 | Repsol YPF SA (Oil, Gas & Consumable Fuels) | 4,101 | ||||||
499,217 | Telefonica SA (Diversified Telecommunication Services) | 4,202 | ||||||
|
| |||||||
37,131 | ||||||||
|
| |||||||
Sweden — 1.48% |
| |||||||
15,703 | Atlas Copco AB, A Shares (Machinery) | 375 | ||||||
86,661 | Boliden AB (Metals & Mining) | 1,879 |
Shares | Security Description | Value (000) | ||||||
Sweden (continued) |
| |||||||
95,188 | Electrolux AB, B Shares (Household Durables) | $ | 2,008 | |||||
19,360 | Granges AB (Metals & Mining) | 176 | ||||||
337,384 | Hennes & Mauritz AB, B Shares (Specialty Retail) | 4,800 | ||||||
27,128 | Micronic Mydata AB (Electronic Equipment, Instruments & Components)^ | 363 | ||||||
23,411 | Sandvik AB (Machinery) | 336 | ||||||
250,133 | Skandinaviska Enskilda Banken AB, Class – A (Banks) | 2,433 | ||||||
116,680 | Skanska AB, B Shares (Construction & Engineering) | 1,862 | ||||||
121,345 | SKF AB, B Shares (Machinery) | 1,845 | ||||||
233,032 | Svenska Handelsbanken AB, A Shares (Banks) | 2,594 | ||||||
137,398 | Swedbank AB, A Shares (Banks) | 3,072 | ||||||
59,240 | Swedish Match AB (Tobacco) | 2,333 | ||||||
81,787 | Tele2 AB, B Shares (Wireless Telecommunication Services) | 1,044 | ||||||
593,923 | TeliaSonera AB (Diversified Telecommunication Services) | 2,827 | ||||||
129,092 | Volvo AB, B Shares (Machinery) | 1,691 | ||||||
|
| |||||||
29,638 | ||||||||
|
| |||||||
Switzerland — 8.75% |
| |||||||
1,168,870 | ABB Ltd., Registered Shares (Electrical Equipment) | 22,330 | ||||||
47,088 | Adecco SA, Registered Shares (Professional Services) | 2,214 | ||||||
1,857,207 | Aryzta AG (Food Products) (a) | 2,059 | ||||||
5,469 | Baloise Holding AG, Registered Shares (Insurance) | 755 | ||||||
121,769 | Compagnie Financiere Richemont SA, Registered Shares (Textiles, Apparel & Luxury Goods) | 7,856 | ||||||
9,775 | Dufry AG (Specialty Retail) | 931 | ||||||
2,434 | EMS-Chemie Holding AG, Registered Shares (Chemicals) | 1,159 | ||||||
87,068 | Ferguson PLC (Trading Companies & Distributors) | 5,563 | ||||||
782 | Georg Fischer AG (Machinery) | 628 | ||||||
2,016 | Givaudan SA (Chemicals) | 4,677 | ||||||
21,586 | Idorsia Ltd. (Biotechnology) (a)(b) | 359 | ||||||
16,641 | Julius Baer Group Ltd. (Capital Markets) | 593 | ||||||
16,212 | Kuehne & Nagel International Ltd. (Marine) | 2,088 | ||||||
142,385 | LafargeHolcim Ltd., Registered Shares (Construction Materials) | 5,878 | ||||||
11,677 | Lonza Group AG (Life Sciences Tools & Services) | 3,037 | ||||||
134,512 | Nestle SA (Food Products) | 10,921 | ||||||
465,612 | Novartis AG, Registered Shares (Pharmaceuticals) | 39,893 | ||||||
3,246 | Pargesa Holding SA (Diversified Financial Services) | 234 | ||||||
2,489 | Partners Group Holding AG (Capital Markets) | 1,515 | ||||||
164,721 | Roche Holding AG (Pharmaceuticals) | 40,910 | ||||||
2,267 | Roche Holding AG (Pharmaceuticals) | 553 | ||||||
1,554 | SGS SA, Registered Shares (Professional Services) | 3,500 |
See accompanying notes to financial statements.
107
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The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
Switzerland (continued) |
| |||||||
9,641 | Sonova Holding AG, Registered Shares (Health Care Equipment & Supplies) (b) | $ | 1,586 | |||||
3,697 | Swiss Life Holding AG (Insurance) | 1,428 | ||||||
11,092 | Swiss Prime Site AG (Real Estate Management & Development) | 899 | ||||||
34,636 | Swiss Re AG (Insurance) | 3,188 | ||||||
3,794 | Swisscom AG (Diversified Telecommunication Services) | 1,814 | ||||||
10,824 | The Swatch Group AG (Textiles, Apparel & Luxury Goods) | 626 | ||||||
284,000 | UBS Group AG (Capital Markets) | 3,544 | ||||||
16,583 | Zurich Financial Services AG (Insurance) | 4,945 | ||||||
|
| |||||||
175,683 | ||||||||
|
| |||||||
United Kingdom — 19.42% |
| |||||||
20,268 | Admiral Group PLC (Insurance) | 529 | ||||||
52,300 | Anglo American PLC (Metals & Mining) | 1,169 | ||||||
40,734 | Aon PLC (Insurance) | 5,921 | ||||||
48,442 | Ashtead Group PLC (Trading Companies & Distributors) | 1,010 | ||||||
76,008 | Associated British Foods PLC (Food Products) | 1,981 | ||||||
131,127 | AstraZeneca PLC (Pharmaceuticals) | 9,787 | ||||||
2,801 | Aveva Group PLC (Software) | 86 | ||||||
1,953,258 | Aviva PLC (Insurance) | 9,347 | ||||||
68,128 | Babcock International Group PLC (Commercial Services & Supplies) | 425 | ||||||
828,220 | BAE Systems PLC (Aerospace & Defense) | 4,843 | ||||||
1,378,420 | Balfour Beatty PLC (Construction & Engineering) | 4,378 | ||||||
5,807,178 | Barclays PLC (Banks) | 11,109 | ||||||
278,737 | Barratt Developments PLC (Household Durables) | 1,644 | ||||||
4,482,206 | BP PLC (Oil, Gas & Consumable Fuels) | 28,330 | ||||||
927,850 | British American Tobacco PLC (Tobacco) | 29,519 | ||||||
131,283 | British Land Co. PLC (Equity Real Estate Investment Trusts) | 893 | ||||||
1,092,491 | BT Group PLC (Diversified Telecommunication Services) | 3,321 | ||||||
47,136 | Burberry Group PLC (Textiles, Apparel & Luxury Goods) | 1,035 | ||||||
112,295 | Carnival PLC (Hotels, Restaurants & Leisure) | 5,392 | ||||||
709,608 | Centrica PLC (Multi-Utilities) | 1,224 | ||||||
596,103 | Cineworld Group PLC (Entertainment) | 2,001 | ||||||
4,479,300 | Cobham PLC (Aerospace & Defense) (a) | 5,584 | ||||||
1,073,319 | ConvaTec Group PLC (Health Care Equipment & Supplies) (b) | 1,901 | ||||||
136,637 | Direct Line Insurance Group PLC (Insurance) | 555 | ||||||
184,109 | Evraz PLC (Metals & Mining) | 1,127 | ||||||
407,091 | G4S PLC (Commercial Services & Supplies) | 1,027 | ||||||
17,181 | Games Workshop Group PLC (Leisure Products) | 665 | ||||||
1,291,102 | GlaxoSmithKline PLC (Pharmaceuticals) | 24,602 | ||||||
109,464 | Hammerson PLC (Equity Real Estate Investment Trusts) | 461 | ||||||
103,120 | Hargreaves Lansdown PLC (Capital Markets) | 2,432 |
Shares | Security Description | Value (000) | ||||||
United Kingdom (continued) |
| |||||||
206,584 | Howden Joinery Group PLC (Trading Companies & Distributors) | $ | 1,146 | |||||
2,356,207 | HSBC Holdings PLC (Banks) | 19,435 | ||||||
401,755 | Imperial Tobacco Group PLC (Tobacco) | 12,192 | ||||||
271,450 | International Consolidated Airlines Group SA (Airlines) | 2,152 | ||||||
41,474 | Investec PLC (Capital Markets) | 233 | ||||||
945,963 | ITV PLC (Media) | 1,506 | ||||||
81,935 | Johnson Matthey PLC (Chemicals) | 2,925 | ||||||
45,126 | Kazakhmys PLC (Metals & Mining) | 307 | ||||||
98,271 | Land Securities Group PLC (Equity Real Estate Investment Trusts) | 1,008 | ||||||
587,845 | Legal & General Group PLC (Insurance) | 1,732 | ||||||
180,945 | Linde PLC (Chemicals) | 28,720 | ||||||
18,567,173 | Lloyds Banking Group PLC (Banks) | 12,237 | ||||||
56,087 | London Stock Exchange Group (Capital Markets) | 2,909 | ||||||
424,733 | Marks & Spencer Group PLC (Multiline Retail) | 1,332 | ||||||
287,470 | Micro Focus International PLC (Software) | 5,036 | ||||||
11,192 | Mondi PLC (Paper & Forest Products) | 233 | ||||||
611,068 | National Grid PLC (Multi-Utilities) | 5,977 | ||||||
38,032 | Next PLC (Multiline Retail) | 1,936 | ||||||
55,211 | Pearson PLC (Media) | 661 | ||||||
100,115 | Persimmon PLC (Household Durables) | 2,465 | ||||||
748,995 | Prudential PLC (Insurance) | 13,372 | ||||||
10,384 | Relx PLC (Professional Services) | 214 | ||||||
572,992 | Rentokil Initial PLC (Commercial Services & Supplies) | 2,465 | ||||||
334,337 | Rio Tinto PLC (Metals & Mining) | 16,010 | ||||||
762,774 | Rolls-Royce Holdings PLC (Aerospace & Defense) | 8,035 | ||||||
1,070,652 | Royal Bank of Scotland Group PLC (Banks) | 2,970 | ||||||
626,947 | Royal Dutch Shell PLC, A Shares (Oil, Gas & Consumable Fuels) | 18,450 | ||||||
778,363 | Royal Dutch Shell PLC, B Shares (Oil, Gas & Consumable Fuels) | 23,268 | ||||||
231,918 | Royal Mail PLC (Air Freight & Logistics) | 805 | ||||||
31,015 | Severn Trent PLC (Water Utilities) | 719 | ||||||
790,005 | SSE PLC (Electric Utilities) | 10,908 | ||||||
27,019 | SSP Group PLC (Hotels, Restaurants & Leisure) | 223 | ||||||
171,783 | Standard Life Aberdeen PLC (Diversified Financial Services) | 562 | ||||||
239,747 | Tate & Lyle PLC (Food Products) | 2,017 | ||||||
1,375,623 | Taylor Wimpey PLC (Household Durables) | 2,392 | ||||||
90,020 | United Utilities Group PLC (Water Utilities) | 846 | ||||||
7,930,785 | Vodafone Group PLC (Wireless Telecommunication Services) | 15,417 | ||||||
14,224 | WH Smith PLC (Specialty Retail) | 312 | ||||||
267,341 | William Morrison Supermarkets PLC (Food & Staples Retailing) | 727 | ||||||
22,900 | Willis Towers Watson PLC (Insurance) | 3,478 | ||||||
|
| |||||||
389,630 | ||||||||
|
|
See accompanying notes to financial statements.
108
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) |
| |||||||
United States — 0.09% |
| |||||||
838 | Amazon.com, Inc. (Internet & Direct Marketing Retail) (a) | $ | 1,259 | |||||
5,286 | WABCO Holdings, Inc. (Machinery) (a) | 567 | ||||||
|
| |||||||
1,826 | ||||||||
|
| |||||||
Total Common Stocks | 1,827,954 | |||||||
|
| |||||||
Preferred Stocks — 1.36% | ||||||||
Brazil — 0.22% |
| |||||||
767,980 | Petroleo Brasileiro SA – Preferred (Oil, Gas & Consumable Fuels) (a) | 4,495 | ||||||
|
| |||||||
Germany — 1.14% |
| |||||||
7,957 | Bayerische Motoren Werke Aktiengesellschaft – Preferred (Automobiles) | 567 | ||||||
28,747 | Henkel AG & Co. KGaA – Preferred (Household Products) | 3,140 | ||||||
22,970 | Porsche Automobil Holding SE – Preferred (Automobiles) | 1,351 | ||||||
111,198 | Volkswagen AG – Preferred (Automobiles) | 17,728 | ||||||
|
| |||||||
22,786 | ||||||||
|
| |||||||
Total Preferred Stocks | 27,281 | |||||||
|
| |||||||
Rights — 0.01% | ||||||||
Spain — 0.01% |
| |||||||
255,118 | Repsol SA (Oil, Gas & Consumable Fuels) (a) | 117 | ||||||
|
| |||||||
United Kingdom — 0.00% |
| |||||||
33,450,694 | Rolls-Royce Holdings PLC (Aerospace & Defense) (a) | 43 | ||||||
|
| |||||||
Total Rights | 160 | |||||||
|
| |||||||
Investment Companies — 6.41% | ||||||||
150,415 | Aberdeen Japan Investment Trust PLC | 1,006 | ||||||
1,437,497 | Baillie Gifford UK Growth Fund PLC | 2,979 | ||||||
219,906 | Biotech Growth Trust PLC (The) | 1,776 | ||||||
130,532 | BlackRock Enhanced Global Dividend Trust | 1,223 | ||||||
229,052 | BlackRock International Growth Fund | 1,141 | ||||||
391,621 | BlackRock World Mining Trust PLC | 1,700 | ||||||
1,137,009 | Dreyfus Treasury Prime Cash Management Fund, Institutional Shares, 2.20% (c) | 1,137 | ||||||
594,430 | Dunedin Income Growth Investment Trust PLC | 1,783 | ||||||
94,214 | Eaton VanceTax-Advantaged Global Dividend Income | 1,276 | ||||||
655,616 | Edinburgh Dragon Trust PLC | 3,010 | ||||||
385,010 | Edinburgh Investment Trust PLC | 2,943 | ||||||
1,533,021 | European Assets Trust NV | 1,826 | ||||||
329,749 | European Investment Trust PLC | 3,310 | ||||||
3,813,625 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (c) | 3,814 | ||||||
1,871,855 | Fidelity European Values PLC | 4,942 | ||||||
47,931 | First Trust Dynamic Europe Equity Income Fund | 606 | ||||||
213,000 | Henderson European Focus Trust PLC | 2,902 | ||||||
131,745 | Henderson EuroTrust PLC | 1,652 | ||||||
486,364 | Japan Smaller Capitalization Fund, Inc. | 4,036 | ||||||
549,232 | JPMorgan European Investment Trust PLC – Growth | 1,758 |
Shares | Security Description | Value (000) | ||||||
Investment Companies (continued) | ||||||||
743,689 | JPMorgan European Smaller Companies Trust PLC | $ | 3,109 | |||||
639,097 | JPMorgan Japan Smaller Companies Investment Trust, Ordinary Shares | 2,733 | ||||||
757,201 | JPMorgan Japanese Investment Trust PLC | 3,609 | ||||||
649,371 | Lazard World Trust Fund | 2,637 | ||||||
69,100 | Liberty All Star Growth Fund, Inc. | 303 | ||||||
390,497 | Martin Currie Asia Unconstrained Trust PLC | 1,783 | ||||||
61,418 | Mexico Fund, Inc. (The) | 813 | ||||||
104,102 | Morgan Stanley China Fund, Inc. | 1,901 | ||||||
551,712 | Neuberger Berman MLP Income Fund, Inc. | 3,691 | ||||||
128,443 | New Germany Fund, Inc. (The) | 1,503 | ||||||
742,182 | Oakley Capital Investments Ltd. | 1,646 | ||||||
849,096 | Perpetual Income & Growth Investment Trust | 3,353 | ||||||
60,676 | Pershing Square Holdings Fund Ltd. | 780 | ||||||
872,330 | Polar Capital Global Financials Trust PLC | 1,361 | ||||||
436,314 | River & Mercantile UK Micro Cap Investment Co. Ltd. | 858 | ||||||
115,132 | Riverstone Energy Ltd. | 1,579 | ||||||
691,429 | Schroder Japan Growth Fund PLC | 1,628 | ||||||
3,523,182 | SSgA U.S. Government Money Market Fund, Administrative Class, 2.02% (c) | 3,523 | ||||||
39,432,136 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (c) | 39,432 | ||||||
64,723 | Tekla Healthcare Investors Fund | 1,162 | ||||||
191,113 | Templeton Emerging Markets Investment Trust PLC | 1,651 | ||||||
182,942 | TR European Growth Trust PLC | 1,805 | ||||||
99,290 | Voya Infrastructure Industrials and Materials Fund | 1,098 | ||||||
1,671,382 | Woodford Patient Capital Trust PLC | 1,748 | ||||||
|
| |||||||
Total Investment Companies | 128,526 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.29% | ||||||||
$ | 5,755 | Jefferies LLC, 3.10%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $5,755,851 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $5,869,957) ^^ | 5,755 | |||||
|
| |||||||
Total Repurchase Agreement | 5,755 | |||||||
|
| |||||||
Total Investments | 1,989,676 | |||||||
Other assets in excess of liabilities — 0.80% | 16,001 | |||||||
|
| |||||||
Net Assets — 100.00% | $ | 2,005,677 | ||||||
|
| |||||||
See accompanying notes to financial statements.
109
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $35,081 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Representsnon-income producing security. |
(b) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(c) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
FDR — Fiduciary Depositary Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Institutional International | Artisan Partners LP | Cadence Capital Management, LLC | Causeway Capital Management LLC | City of London Investment Management Company, Ltd. | Lazard Asset Management LLC | Parametric Portfolio Associates, LLC | HC Capital Solutions | Total | ||||||||||||||||||||||||
Common Stocks | 9.39 | % | 50.46 | % | 19.32 | % | — | 11.96 | % | — | — | 91.13 | % | |||||||||||||||||||
Preferred Stocks | 0.38 | % | 0.10 | % | 0.88 | % | — | — | — | — | 1.36 | % | ||||||||||||||||||||
Rights | — | 0.01 | % | 0.00 | % | — | — | — | — | 0.01 | % | |||||||||||||||||||||
Investment Companies | — | 0.20 | % | 0.02 | % | 4.07 | % | 0.20 | % | 1.46 | % | 0.46 | % | 6.41 | % | |||||||||||||||||
Repurchase Agreement | — | 0.22 | % | 0.03 | % | — | 0.04 | % | — | — | 0.29 | % | ||||||||||||||||||||
Other Assets (Liabilities) | 0.33 | % | -0.02 | % | 0.38 | % | -0.02 | % | -0.02 | % | 0.15 | % | 0.00 | % | 0.80 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||||
Total Net Assets | 10.10 | % | 50.97 | % | 20.63 | % | 4.05 | % | 12.18 | % | 1.61 | % | 0.46 | % | 100.00 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
MSCI EAFE Index Future | 463 | 3/15/19 | $ | 39,725 | $ | (732 | ) | |||||||
|
|
|
| |||||||||||
$ | 39,725 | $ | (732 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| — | ||||||||||||
Total Unrealized Depreciation |
| $ | (732 | ) | ||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (732 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
110
Table of Contents
HC CAPITAL TRUST
The Institutional International Equity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Forward Currency Contracts
Short Contracts
Description and (000) | Description and | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
U.S. Dollar | 9 | Japanese Yen | 1,001 | BNY Capital Markets | 1/4/19 | $ | — | |||||||||||||
U.S. Dollar | 1 | Japanese Yen | 104 | State Street | 1/4/19 | — | ||||||||||||||
U.S. Dollar | 6 | Japanese Yen | 687 | Deutsche Bank | 1/7/19 | — | ||||||||||||||
|
| |||||||||||||||||||
$ | — | |||||||||||||||||||
|
|
Long Contracts
Description and (000) | Description and to be sold (000) | Counterparty | Settlement Date | Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||||||
Japanese Yen | 4,441 | U.S. Dollar | 40 | Mellon Bank | 1/8/19 | $ | — | |||||||||||||
|
| |||||||||||||||||||
$ | — | |||||||||||||||||||
|
| |||||||||||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||||||||
Total Unrealized Depreciation |
| — | ||||||||||||||||||
|
| |||||||||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | — | |||||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
111
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks — 95.85% | ||||||||
Argentina — 0.16% |
| |||||||
85,700 | Grupo Financiero Galicia SA, ADR (Banks) | $ | 2,363 | |||||
|
| |||||||
Bermuda — 0.58% |
| |||||||
16,741,733 | Beijing Enterprises Water Group Ltd. (Water Utilities) | 8,546 | ||||||
|
| |||||||
Brazil — 5.64% |
| |||||||
1,571,900 | Ambev SA (Beverages) | 6,238 | ||||||
954,200 | Banco Bradesco SA (Banks) | 8,334 | ||||||
1,051,600 | Banco do Brasil SA (Banks) | 12,615 | ||||||
1,098,950 | BB Seguridade Participacoes SA (Insurance) | 7,824 | ||||||
793,748 | BRF – Brazil Foods SA, ADR (Food Products)^ (a) | 4,508 | ||||||
1,136,300 | BRF SA (Food Products) (a) | 6,431 | ||||||
1,457,384 | Companhia Energetica de Minas Gerais SA – Sponsored ADR (Electric Utilities)^ | 5,189 | ||||||
233,381 | CPFL Energia SA (Electric Utilities) | 1,737 | ||||||
460,500 | Cyrela Brazil Realty SA Empreendimentos (Household Durables) | 1,838 | ||||||
272,800 | Duratex SA (Paper & Forest Products) | 833 | ||||||
1,079,600 | Klabin SA (Containers & Packaging) | 4,424 | ||||||
71,966 | LOG Commercial Properties e Participacoes SA (Real Estate Management & Development) (a) | 335 | ||||||
997,450 | MRV Engenharia E Participacoes SA (Household Durables) | 3,182 | ||||||
766,900 | Natura Cosmeticos SA (Personal Products) | 8,905 | ||||||
534,400 | Petroleo Brasileiro SA (Oil, Gas & Consumable Fuels) | 3,503 | ||||||
269,000 | Raia Drogasil SA (Food & Staples Retailing) | 3,967 | ||||||
1,028,100 | Tim Participacoes SA (Wireless Telecommunication Services) | 3,144 | ||||||
74,400 | Transmissora Alianca de Energia Eletrica SA (Electric Utilities) | 453 | ||||||
|
| |||||||
83,460 | ||||||||
|
| |||||||
Cayman Islands — 0.26% |
| |||||||
2,207,000 | Geely Automobile Holdings Ltd. (Automobiles) | 3,892 | ||||||
|
| |||||||
Chile — 1.06% |
| |||||||
943,291 | Antofagasta PLC (Metals & Mining) | 9,433 | ||||||
16,449 | Banco de Credito e Inversiones SA (Banks) | 1,069 | ||||||
1,604,500 | Empresa Nacional de Electricidad SA (Independent Power and Renewable Electricity Producers) | 967 | ||||||
9,436,244 | Enersis Chile SA (Electric Utilities) | 911 | ||||||
13,750,484 | Enersis SA (Electric Utilities) | 2,429 | ||||||
433,100 | Vina Concha y Toro SA (Beverages) | 846 | ||||||
|
| |||||||
15,655 | ||||||||
|
| |||||||
China — 26.89% |
| |||||||
12,829,000 | Agricultural Bank of China Ltd., H Shares (Banks) | 5,619 | ||||||
439,898 | Alibaba Group Holding Ltd., ADR (Internet & Direct Marketing Retail) (a) | 60,297 | ||||||
30,800 | Baidu, Inc., ADR (Interactive Media & Services) (a) | 4,885 | ||||||
18,657,100 | Bank of China Ltd., H Shares (Banks) | 8,044 | ||||||
5,579,000 | Bank of Communications Co. Ltd., H Shares (Banks) | 4,357 |
Shares | Security Description | Value (000) | ||||||
China (continued) |
| |||||||
7,780,000 | China Communications Services Corp. Ltd., H Shares (Diversified Telecommunication Services) | $ | 6,451 | |||||
1,354,000 | China Conch Venture Holdings Ltd. (Machinery) | 4,032 | ||||||
22,658,350 | China Construction Bank Corp., H Shares (Banks) | 18,554 | ||||||
1,641,000 | China Everbright Bank Co. Ltd., H Shares (Banks) | 711 | ||||||
1,142,337 | China Evergrande Group (Real Estate Management & Development)^ | 3,413 | ||||||
4,482,000 | China Life Insurance Co. Ltd., H Shares (Insurance) | 9,479 | ||||||
10,058,000 | China Machinery Engineering Corp., H Shares (Construction & Engineering) (b) | 4,761 | ||||||
200 | China Merchants Bank Co. Ltd. (Banks) | 1 | ||||||
1,427,000 | China Merchants Bank Co. Ltd., H Shares (Banks) | 5,211 | ||||||
1,434,000 | China Merchants Holdings (International) Co. Ltd. (Transportation Infrastructure) | 2,579 | ||||||
163,887 | China Mobile Ltd., ADR (Wireless Telecommunication Services) | 7,867 | ||||||
1,873,500 | China Mobile Ltd. (Wireless Telecommunication Services) | 18,130 | ||||||
5,561,400 | China Petroleum & Chemical Corp., H Shares (Oil, Gas & Consumable Fuels) | 3,964 | ||||||
1,254,000 | China Resources Cement Holdings Ltd. (Construction Materials) | 1,131 | ||||||
998,000 | China Resources Land Ltd. (Real Estate Management & Development) | 3,839 | ||||||
4,406,143 | China Resources Power Holdings Co. Ltd. (Independent Power and Renewable Electricity Producers) | 8,475 | ||||||
2,040,000 | China Shenhua Energy Co. Ltd., H Shares (Oil, Gas & Consumable Fuels) | 4,449 | ||||||
823,000 | China Vanke Co. Ltd., H Shares (Real Estate Management & Development) | 2,787 | ||||||
10,671,000 | China Zhentong Auto Services Holdings Ltd. (Specialty Retail) | 6,358 | ||||||
1,444,000 | Chongqing Rural Commercial Bank Co. Ltd., H Shares (Banks) | 774 | ||||||
97,665 | CNOOC Ltd., ADR (Oil, Gas & Consumable Fuels) | 14,890 | ||||||
3,170,000 | CNOOC Ltd. (Oil, Gas & Consumable Fuels) | 4,883 | ||||||
3,599,000 | Country Garden Holdings Co. Ltd. (Real Estate Management & Development) | 4,371 | ||||||
413,678 | Country Garden Services Holdings Co. Ltd., Series S (Commercial Services & Supplies) (a) | 655 | ||||||
812,500 | ENN Energy Holdings Ltd. (Gas Utilities) | 7,222 | ||||||
2,152,800 | Fuyao Glass Industry Group Co. Ltd. (Auto Components) | 6,893 | ||||||
3,728,000 | Guangzhou Automobile Group Co. Ltd., H Shares (Automobiles) | 3,717 | ||||||
24,139,440 | Industrial & Commercial Bank of China Ltd., H Shares (Banks) | 17,171 | ||||||
1,516,000 | Jiangsu Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 2,116 | ||||||
8,650,000 | Lianhua Supermarket Holdings Ltd., H Shares (Food & Staples Retailing) (a)(b) | 1,324 |
See accompanying notes to financial statements.
112
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
China (continued) |
| |||||||
951,722 | Midea Group Co. Ltd., Class – A (Household Durables) | $ | 5,140 | |||||
35,054,237 | Parkson Retail Group Ltd. (Multiline Retail)^ (b) | 2,500 | ||||||
22,236,000 | PetroChina, H Shares (Oil, Gas & Consumable Fuels) | 13,798 | ||||||
1,405,000 | Ping An Insurance (Group) Company of China Ltd. (Insurance) | 12,396 | ||||||
5,820,000 | Semiconductor Manufacturing International Corp. (Semiconductors & Semiconductor Equipment)^ (a) | 5,075 | ||||||
2,857,000 | Shanghai Industrial Holdings Ltd. (Industrial Conglomerates) | 5,776 | ||||||
2,952,400 | Shanghai Pharmaceuticals Holding Co. Ltd., H Shares (Health Care Providers & Services) | 5,995 | ||||||
873,000 | Shimao Property Holdings Ltd. (Real Estate Management & Development) | 2,325 | ||||||
1,147,500 | SOHO China Ltd. (Real Estate Management & Development) (a) | 410 | ||||||
2,064,650 | Tencent Holdings Ltd. (Interactive Media & Services) | 82,757 | ||||||
360,100 | Weifu High Technology Group Co. Ltd. (Auto Components) | 624 | ||||||
1,818,000 | Zhejiang Expressway Co. Ltd., H Shares (Transportation Infrastructure) | 1,577 | ||||||
|
| |||||||
397,783 | ||||||||
|
| |||||||
Colombia — 0.65% |
| |||||||
148,946 | Bancolombia SA, ADR (Banks) | 5,675 | ||||||
4,891,836 | Ecopetrol SA (Oil, Gas & Consumable Fuels) | 3,987 | ||||||
|
| |||||||
9,662 | ||||||||
|
| |||||||
Egypt — 0.15% |
| |||||||
526,825 | Commercial International Bank Egypt SAE (Banks) | 2,185 | ||||||
|
| |||||||
Greece — 0.41% |
| |||||||
558,663 | Hellenic Telecommunication Organization SA (Diversified Telecommunication Services) | 6,095 | ||||||
|
| |||||||
Hong Kong — 3.32% |
| |||||||
1,830,000 | AIA Group Ltd. (Insurance) | 15,202 | ||||||
6,643,182 | China Everbright International Ltd. (Commercial Services & Supplies) | 5,954 | ||||||
2,250,000 | China Overseas Land & Investment Ltd. (Real Estate Management & Development) | 7,758 | ||||||
4,613,000 | Dali Foods Group Co. Ltd. (Food Products) | 3,404 | ||||||
1,172,000 | Far East Horizon Ltd. (Diversified Financial Services) | 1,182 | ||||||
2,368,000 | Franshion Properties China Ltd. (Real Estate Management & Development) | 1,066 | ||||||
624,800 | Guangzhou R&F Properties Co. Ltd., H Shares (Real Estate Management & Development) | 946 | ||||||
717,500 | Hengan International Group Co. Ltd. (Personal Products) | 5,210 | ||||||
2,126,000 | Nagacorp Ltd. (Hotels, Restaurants & Leisure) | 2,284 |
Shares | Security Description | Value (000) | ||||||
Hong Kong (continued) |
| |||||||
1,526,100 | Samsonite International SA (Textiles, Apparel & Luxury Goods) | $ | 4,336 | |||||
2,184,500 | Sino-Ocean Land Holdings Ltd. (Real Estate Management & Development) | 963 | ||||||
4,500,000 | Yuexiu Property Co. Ltd. (Real Estate Management & Development) | 827 | ||||||
|
| |||||||
49,132 | ||||||||
|
| |||||||
Hungary — 1.03% |
| |||||||
326,720 | MOL Hungarian Oil & Gas PLC (Oil, Gas & Consumable Fuels) | 3,588 | ||||||
107,086 | OTP Bank Nyrt PLC (Banks) | 4,331 | ||||||
376,510 | Richter Gedeon Nyrt (Pharmaceuticals) | 7,300 | ||||||
|
| |||||||
15,219 | ||||||||
|
| |||||||
India — 9.44% |
| |||||||
20,590 | ACC Ltd. (Construction Materials) | 444 | ||||||
1,090,104 | Adani Ports and Special Economic Zone Ltd. (Transportation Infrastructure) | 6,050 | ||||||
319,100 | Ambuja Cements Ltd. (Construction Materials) | 1,028 | ||||||
378,417 | Aurobindo Pharma Ltd. (Pharmaceuticals) | 3,969 | ||||||
74,400 | Bajaj Auto Ltd. (Automobiles) | 2,896 | ||||||
474,300 | Bharat Petroleum Corp. Ltd. (Oil, Gas & Consumable Fuels) | 2,467 | ||||||
8,842,285 | Chennai Super Kings Cricket Ltd. (Entertainment) (a) | — | ||||||
2,251,800 | Coal India Ltd. (Oil, Gas & Consumable Fuels) | 7,764 | ||||||
217,802 | Dr. Reddy’s Laboratories Ltd., ADR (Pharmaceuticals) | 8,211 | ||||||
239,866 | GAIL India Ltd. (Gas Utilities) | 1,238 | ||||||
125,663 | Hero MotoCorp Ltd. (Automobiles) | 5,585 | ||||||
638,446 | Housing Development Finance Corp. Ltd. (Thrifts & Mortgage Finance) | 17,990 | ||||||
262,807 | ICICI Bank Ltd., ADR (Banks) | 2,704 | ||||||
1,997,432 | ICICI Bank Ltd. (Banks) | 10,308 | ||||||
2,739,948 | India Cements Ltd. (Construction Materials) | 3,768 | ||||||
450,119 | Indiabulls Housing Finance Ltd. (Thrifts & Mortgage Finance) | 5,499 | ||||||
343,176 | Infosys Ltd. (IT Services) | 3,243 | ||||||
1,317,147 | ITC Ltd. (Tobacco) | 5,311 | ||||||
698,140 | NTPC Ltd. (Independent Power and Renewable Electricity Producers) | 1,490 | ||||||
980,385 | Oil & Natural Gas Corp. Ltd. (Oil, Gas & Consumable Fuels) | 2,105 | ||||||
203,299 | Oil India Ltd. (Oil, Gas & Consumable Fuels) | 509 | ||||||
477,113 | Reliance Industries Ltd. (Oil, Gas & Consumable Fuels) | 7,658 | ||||||
261,508 | Rural Electrification Corp. Ltd. (Diversified Financial Services) | 457 | ||||||
612,770 | Sesa Sterlite Ltd. (Metals & Mining) | 1,773 | ||||||
2,388,318 | State Bank of India (Banks) (a) | 10,116 | ||||||
632,245 | Tata Consultancy Services Ltd. (IT Services) | 17,144 | ||||||
493,600 | Tata Power Co. Ltd. (Electric Utilities) | 543 | ||||||
577,964 | Tata Steel Ltd. (Metals & Mining) | 4,310 | ||||||
1,085,500 | Wipro Ltd. (IT Services) | 5,137 | ||||||
|
| |||||||
139,717 | ||||||||
|
|
See accompanying notes to financial statements.
113
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Indonesia — 2.56% |
| |||||||
1,627,800 | PT Astra International Tbk (Automobiles) | $ | 933 | |||||
3,279,100 | PT Bank Central Asia Tbk (Banks) | 5,932 | ||||||
16,210,000 | PT Bank Rakyat Indonesia Persero Tbk (Banks) | 4,131 | ||||||
436,600 | PT Indocement Tunggal Prakarsa Tbk (Construction Materials) | 561 | ||||||
2,506,800 | PT Indofood Sukses Makmur Tbk (Food Products) | 1,299 | ||||||
70,572,200 | PT Kalbe Farma Tbk (Pharmaceuticals) | 7,459 | ||||||
3,254,500 | PT Perusahaan Gas Negara Tbk (Gas Utilities) | 481 | ||||||
913,200 | PT Semen Gresik (Persero) Tbk (Construction Materials) | 730 | ||||||
43,139,250 | PT Telekomunikasi Indonesia Persero Tbk (Diversified Telecommunication Services) | 11,282 | ||||||
967,300 | PT United Tractors Tbk (Oil, Gas & Consumable Fuels) | 1,842 | ||||||
14,254,500 | Vale Indonesia TBK PT (Metals & Mining) (a) | 3,237 | ||||||
|
| |||||||
37,887 | ||||||||
|
| |||||||
Japan — 0.38% |
| |||||||
85,700 | SoftBank Group Corp. (Wireless Telecommunication Services) | 5,614 | ||||||
|
| |||||||
Luxembourg — 0.07% |
| |||||||
39,429 | Ternium SA, ADR (Metals & Mining) | 1,069 | ||||||
|
| |||||||
Malaysia — 1.11% |
| |||||||
741,500 | AMMB Holdings Berhad (Banks) | 778 | ||||||
550,387 | Berjaya Sports Toto Berhard (Hotels, Restaurants & Leisure) | 281 | ||||||
994,100 | Felda Global Ventures Holdings Berhad (Food Products) (a) | 172 | ||||||
2,304,300 | IOI Corp. Berhad (Food Products) | 2,477 | ||||||
174,300 | Lafarge Malayan Cement Berhad (Construction Materials) (a) | 77 | ||||||
1,648,214 | Malayan Banking Berhad (Banks) | 3,788 | ||||||
741,400 | Maxis Berhad (Wireless Telecommunication Services) | 959 | ||||||
574,800 | Public Bank Berhad (Banks) | 3,443 | ||||||
1,695,900 | Sime Darby Berhad (Industrial Conglomerates) | 985 | ||||||
1,695,900 | Sime Darby Plantation Berhad (Food Products) | 1,950 | ||||||
1,695,900 | Sime Darby Property Berhad (Real Estate Management & Development) | 409 | ||||||
454,700 | UMW Holdings Berhad (Automobiles) | 603 | ||||||
448,872 | UMW Oil & Gas Corp. Berhad (Energy Equipment & Services) (a) | 20 | ||||||
1,566,312 | YTL Corp. Berhad (Multi-Utilities) | 382 | ||||||
490,926 | YTL Power International Berhad (Multi-Utilities) | 99 | ||||||
|
| |||||||
16,423 | ||||||||
|
| |||||||
Mexico — 2.63% |
| |||||||
956,255 | Alpek SAB de CV (Chemicals) (a) | 1,170 | ||||||
5,161,500 | America Movil SAB de CV (Wireless Telecommunication Services) | 3,675 | ||||||
698,896 | Banco Santander Mexico, ADR (Banks) | 4,305 |
Shares | Security Description | Value (000) | ||||||
Mexico (continued) |
| |||||||
415,300 | Coca-Cola FEMSA SAB de CV, Series L (Beverages) | $ | 2,522 | |||||
1,141,900 | Fibra Uno Amdinistracion SA (Equity Real Estate Investment Trusts) | 1,270 | ||||||
80,800 | Fomento Economico Mexicano SAB de CV, ADR (Beverages) | 6,954 | ||||||
4,263,397 | Gentera SAB de CV (Consumer Finance) | 3,146 | ||||||
204,305 | Grupo Aeroportuario del Sureste SAB de CV, Class – B (Transportation Infrastructure) | 3,082 | ||||||
1,725,445 | Grupo Mexico SAB de CV, Series B (Metals & Mining) | 3,563 | ||||||
2,493,600 | Kimberly-Clark de Mexico SAB de CV, A Shares (Household Products) | 3,972 | ||||||
2,027,025 | Mexichem SAB de CV (Chemicals) | 5,149 | ||||||
240,905 | Telesites SAB de CV (Diversified Telecommunication Services) (a) | 143 | ||||||
|
| |||||||
38,951 | ||||||||
|
| |||||||
Nigeria — 0.16% |
| |||||||
25,053,994 | Guaranty Trust Bank PLC (Banks) | 2,363 | ||||||
|
| |||||||
Peru — 0.82% |
| |||||||
183,935 | Compania de Minas Buenaventura SA, ADR (Metals & Mining) | 2,983 | ||||||
700 | Credicorp Ltd. (Banks) | 155 | ||||||
40,700 | Credicorp Ltd. (Banks) | 9,023 | ||||||
|
| |||||||
12,161 | ||||||||
|
| |||||||
Philippines — 1.46% |
| |||||||
1,181,140 | Aboitiz Equity Ventures, Inc. (Industrial Conglomerates) | 1,231 | ||||||
719,500 | Aboitiz Power Corp. (Independent Power and Renewable Electricity Producers) | 480 | ||||||
2,027,900 | Alliance Global Group, Inc. (Industrial Conglomerates) | 458 | ||||||
4,014,700 | DMCI Holdings, Inc. (Industrial Conglomerates) | 976 | ||||||
4,506,712 | Metropolitan Bank & Trust Co. (Banks) | 6,959 | ||||||
48,400 | PLDT, Inc. (Wireless Telecommunication Services) | 1,039 | ||||||
598,075 | SM Investments Corp. (Industrial Conglomerates) | 10,434 | ||||||
|
| |||||||
21,577 | ||||||||
|
| |||||||
Poland — 1.15% |
| |||||||
15,630 | Bank Handlowy w Warszawie SA (Banks) | 289 | ||||||
356,655 | Bank Pekao SA (Banks) | 10,404 | ||||||
104,800 | Energa SA (Electric Utilities) (a) | 251 | ||||||
491,758 | Powszechny Zaklad Ubezpieczen SA (Insurance) | 5,797 | ||||||
269,900 | Telekomunikacja Polska SA (Diversified Telecommunication Services) (a) | 347 | ||||||
|
| |||||||
17,088 | ||||||||
|
| |||||||
Qatar — 0.38% |
| |||||||
38,940 | Doha Bank QSC (Banks) | 237 | ||||||
136,155 | Industries Qatar QSC (Industrial Conglomerates) | 4,983 | ||||||
42,755 | The Commercial Bank of Qatar QSC (Banks) | 462 | ||||||
|
| |||||||
5,682 | ||||||||
|
|
See accompanying notes to financial statements.
114
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Russia — 2.74% |
| |||||||
342,010 | Gazprom OAO, ADR (Oil, Gas & Consumable Fuels) | $ | 1,514 | |||||
101,392 | LUKOIL (Oil, Gas & Consumable Fuels) | 7,267 | ||||||
67,793 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | 4,855 | ||||||
181,219 | LUKOIL PJSC, ADR (Oil, Gas & Consumable Fuels) | 12,928 | ||||||
2,554,569 | Sberbank (Banks) | 6,912 | ||||||
161,761 | Sberbank of Russia, ADR (Banks) | 1,771 | ||||||
113,164 | Severstal, Registered Shares, GDR (Metals & Mining) | 1,545 | ||||||
3,224,236 | The Moscow Exchange (Capital Markets) | 3,761 | ||||||
|
| |||||||
40,553 | ||||||||
|
| |||||||
South Africa — 6.47% |
| |||||||
50,100 | African Rainbow Minerals Ltd. (Metals & Mining) | 497 | ||||||
513,532 | Barloworld Ltd. (Trading Companies & Distributors) | 4,127 | ||||||
458,914 | Clicks Group Ltd. (Food & Staples Retailing) | 6,117 | ||||||
110,600 | Coronation Fund Managers Ltd. (Capital Markets)^ | 318 | ||||||
218,869 | Discovery Ltd. (Insurance) | 2,436 | ||||||
137,800 | Exxaro Resources Ltd. (Oil, Gas & Consumable Fuels) | 1,333 | ||||||
2,626,110 | FirstRand Ltd. (Diversified Financial Services) | 11,992 | ||||||
1,116,666 | Growthpoint Properties Ltd. (Equity Real Estate Investment Trusts) | 1,820 | ||||||
238,500 | Hyprop Investments Ltd. (Equity Real Estate Investment Trusts) | 1,354 | ||||||
181,795 | Imperial Holdings Ltd. (Distributors) | 862 | ||||||
51,643 | Liberty Holdings Ltd. (Insurance) | 396 | ||||||
902,400 | Life Healthcare Group Holdings Ltd. (Health Care Providers & Services) | 1,663 | ||||||
542,500 | MMI Holdings Ltd. (Insurance) (a) | 646 | ||||||
277,661 | Mondi Ltd. (Paper & Forest Products) | 5,996 | ||||||
181,795 | Motus Holdings Ltd. (Specialty Retail) (a) | 1,115 | ||||||
286,830 | MTN Group Ltd. (Wireless Telecommunication Services) | 1,777 | ||||||
307,400 | Nampak Ltd. (Containers & Packaging) (a) | 297 | ||||||
96,575 | Naspers Ltd. (Media) | 19,385 | ||||||
3,370,906 | Redefine Properties Ltd. (Equity Real Estate Investment Trusts) | 2,275 | ||||||
255,600 | Resilient REIT Ltd. (Equity Real Estate Investment Trusts) | 1,021 | ||||||
343,004 | Sasol Ltd. (Chemicals) | 10,219 | ||||||
109,573 | Sasol Ltd. – Sponsored ADR (Chemicals) | 3,209 | ||||||
182,213 | Shoprite Holdings Ltd. (Food & Staples Retailing) | 2,413 | ||||||
721,754 | Standard Bank Group Ltd. (Banks) | 8,990 | ||||||
281,514 | The Foschini Group Ltd. (Specialty Retail) | 3,259 | ||||||
374,200 | Truworths International Ltd. (Specialty Retail) | 2,294 | ||||||
|
| |||||||
95,811 | ||||||||
|
| |||||||
South Korea — 12.33% |
| |||||||
17,292 | Amorepacific Corp. (Personal Products) | 3,254 | ||||||
14,656 | CJ Cheiljedang Corp. (Food Products) | 4,345 |
Shares | Security Description | Value (000) | ||||||
South Korea (continued) |
| |||||||
51,400 | Coway Co. Ltd. (Household Durables) | $ | 3,414 | |||||
44,500 | Daewoo International Corp. (Trading Companies & Distributors) | 727 | ||||||
87,500 | Daewoo Securities Co. Ltd. (Capital Markets) | 514 | ||||||
64,293 | DGB Financial Group, Inc. (Banks) | 479 | ||||||
20,870 | Dongbu Insurance Co. Ltd. (Insurance) | 1,314 | ||||||
6,000 | Doosan Corp. (Industrial Conglomerates) | 599 | ||||||
33,358 | E-Mart Co. Ltd. (Food & Staples Retailing) | 5,448 | ||||||
49,700 | GS Holdings Corp. (Oil, Gas & Consumable Fuels) | 2,297 | ||||||
135,689 | Hana Financial Group, Inc. (Banks) | 4,413 | ||||||
110,541 | Hankook Tire Co. Ltd. (Auto Components) | 3,973 | ||||||
589,571 | Hanon Systems (Auto Components) | 5,714 | ||||||
1,352 | Hyosung Advanced Materials Corp. (Chemicals) (a) | 125 | ||||||
963 | Hyosung Chemical Corp. (Chemicals) (a) | 123 | ||||||
4,164 | Hyosung Corp. (Industrial Conglomerates)^ | 187 | ||||||
2,814 | Hyosung Heavy Industries Corp. (Electrical Equipment) (a) | 104 | ||||||
1,306 | Hyosung TNC Co. Ltd., L Shares (Textiles, Apparel & Luxury Goods) (a) | 216 | ||||||
61,820 | Hyundai Engineering & Construction Co. Ltd. (Construction & Engineering)^ | 3,028 | ||||||
26,043 | Hyundai Heavy Industries Co. Ltd. (Machinery) (a) | 3,004 | ||||||
29,641 | Hyundai Marine & Fire Insurance Co. Ltd. (Insurance) | 1,089 | ||||||
37,605 | Hyundai Mobis Co. Ltd. (Auto Components) | 6,417 | ||||||
30,947 | Hyundai Motor Co. Ltd. (Automobiles) | 3,286 | ||||||
123,200 | Industrial Bank of Korea (Banks) | 1,552 | ||||||
109,700 | Kangwon Land, Inc. (Hotels, Restaurants & Leisure) | 3,141 | ||||||
113,490 | KB Financial Group, Inc., ADR (Banks) (a) | 4,764 | ||||||
197,820 | KB Financial Group, Inc. (Banks) | 8,253 | ||||||
19,030 | KEPCO Plant Service & Engineering Co. Ltd. (Commercial Services & Supplies) | 565 | ||||||
115,781 | Kia Motors Corp. (Automobiles) | 3,490 | ||||||
65,893 | Korea Electric Power Corp., ADR (Electric Utilities)^ (a) | 972 | ||||||
98,135 | Korea Electric Power Corp. (Electric Utilities) | 2,907 | ||||||
106,000 | Korea Life Insurance Co. Ltd. (Insurance) | 401 | ||||||
54,564 | KT&G Corp. (Tobacco) | 4,968 | ||||||
6,700 | Kumho Petro Chemical Co. Ltd. (Chemicals) | 524 | ||||||
194,900 | LG Display Co. Ltd. (Electronic Equipment, Instruments & Components)^ | 3,163 | ||||||
14,361 | LS Corp. (Electrical Equipment) | 633 | ||||||
14,000 | LS Industrial Systems Co. Ltd. (Electrical Equipment) | 615 | ||||||
13,384 | NCsoft Corp. (Entertainment) | 5,611 | ||||||
103,820 | POSCO, ADR (Metals & Mining) | 5,704 | ||||||
22,383 | POSCO (Metals & Mining) | 4,896 | ||||||
16,220 | Samsung Card Co. Ltd. (Consumer Finance) | 501 | ||||||
970,853 | Samsung Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 33,800 | ||||||
40,909 | Samsung Fire & Marine Insurance Co. Ltd. (Insurance) | 9,838 | ||||||
513,185 | Shinhan Financial Group Co. Ltd. (Banks) | 18,198 |
See accompanying notes to financial statements.
115
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
South Korea (continued) |
| |||||||
28,993 | SK Innovation Co. Ltd. (Oil, Gas & Consumable Fuels) | $ | 4,654 | |||||
154,549 | SK Telecom Co. Ltd., ADR (Wireless Telecommunication Services)^ | 4,142 | ||||||
4,528 | SK Telecom Co. Ltd. (Wireless Telecommunication Services) | 1,093 | ||||||
284,654 | Woori Bank (Banks) | 3,981 | ||||||
|
| |||||||
182,436 | ||||||||
|
| |||||||
Taiwan — 9.49% |
| |||||||
3,535,672 | ASE Technology Holding Co. Ltd., Class – H (Semiconductors & Semiconductor Equipment) | 6,700 | ||||||
787,971 | Asia Cement Corp. (Construction Materials) | 871 | ||||||
338,000 | Asustek Computer, Inc. (Technology Hardware, Storage & Peripherals) | 2,215 | ||||||
1,187,000 | Cheng Shin Rubber Industry Co. Ltd. (Auto Components) | 1,579 | ||||||
383,049 | Chicony Electronics Co. Ltd. (Technology Hardware, Storage & Peripherals) | 780 | ||||||
5,034,000 | China Development Financial Holding Corp. (Banks) | 1,594 | ||||||
391,000 | China Motor Corp. (Automobiles) | 309 | ||||||
1,219,000 | Chunghwa Telecom Co. Ltd. (Diversified Telecommunication Services) | 4,451 | ||||||
2,939,000 | Compal Electronics, Inc. (Technology Hardware, Storage & Peripherals) | 1,667 | ||||||
438,000 | CTCI Corp. (Construction & Engineering) | 634 | ||||||
6,059,803 | E.Sun Financial Holding Co. Ltd. (Banks) | 3,964 | ||||||
589,000 | Far EasTone Telecommunications Co. Ltd. (Wireless Telecommunication Services) | 1,463 | ||||||
539,000 | Formosa Taffeta Co. Ltd. (Textiles, Apparel & Luxury Goods) | 606 | ||||||
5,978,996 | Fubon Financial Holding Co. Ltd. (Diversified Financial Services) | 9,174 | ||||||
651,000 | Giant Manufacturing Co. Ltd. (Leisure Products) | 3,056 | ||||||
1,000 | Grand Pacific Petrochemical Corp. (Chemicals) | 1 | ||||||
279,700 | Highwealth Construction Corp. (Real Estate Management & Development) | 409 | ||||||
499,000 | HTC Corp. (Technology Hardware, Storage & Peripherals) (a) | 572 | ||||||
1,717,000 | Inventec Corp. (Technology Hardware, Storage & Peripherals) | 1,229 | ||||||
214,000 | Kinsus Interconnect Technology Corp. (Semiconductors & Semiconductor Equipment) | 302 | ||||||
1,488,554 | Lite-On Technology Corp. (Technology Hardware, Storage & Peripherals) | 1,966 | ||||||
554,962 | MediaTek, Inc. (Semiconductors & Semiconductor Equipment) | 4,130 | ||||||
3,561,477 | Mega Financial Holding Co. Ltd. (Banks) | 3,007 | ||||||
423,000 | Novatek Microelectronics Corp. (Semiconductors & Semiconductor Equipment) | 1,953 | ||||||
1,157,000 | Pegatron Corp. (Technology Hardware, Storage & Peripherals) | 1,937 |
Shares | Security Description | Value (000) | ||||||
Taiwan (continued) |
| |||||||
1,620 | Pou Chen Corp. (Textiles, Apparel & Luxury Goods) | $ | 2 | |||||
490,000 | Powertech Technology, Inc. (Semiconductors & Semiconductor Equipment) | 1,053 | ||||||
3,221,000 | President Enterprises Corp. (Food Products) | 7,307 | ||||||
3,104,000 | Quanta Computer, Inc. (Technology Hardware, Storage & Peripherals) | 5,312 | ||||||
296,000 | Radiant Opto-Electronics Corp. (Semiconductors & Semiconductor Equipment) | 817 | ||||||
309,000 | Realtek Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 1,433 | ||||||
179,280 | Ruentex Development Co. Ltd. (Real Estate Management & Development) | 261 | ||||||
225,000 | Ruentex Industries Ltd. (Textiles, Apparel & Luxury Goods) | 575 | ||||||
120,000 | Simplo Technology Co. Ltd. (Electronic Equipment, Instruments & Components) | 814 | ||||||
2,533,200 | Standard Foods Corp. (Food Products) | 4,094 | ||||||
940,900 | Synnex Technology International Corp. (Electronic Equipment, Instruments & Components) | 1,112 | ||||||
1,317,800 | Taiwan Cement Corp. (Construction Materials) | 1,522 | ||||||
286,000 | Taiwan Fertilizer Co. Ltd. (Chemicals) | 402 | ||||||
615,000 | Taiwan Mobile Co. Ltd. (Wireless Telecommunication Services) | 2,130 | ||||||
6,900,000 | Taiwan Semiconductor Manufacturing Co. Ltd. (Semiconductors & Semiconductor Equipment) | 50,105 | ||||||
138,000 | Transcend Information, Inc. (Technology Hardware, Storage & Peripherals) | 298 | ||||||
314,000 | U-Ming Marine Transport Corp. (Marine) | 330 | ||||||
569,000 | Vanguard International Semiconductor Corp. (Semiconductors & Semiconductor Equipment) | 1,104 | ||||||
377,000 | Wan Hai Lines Ltd. (Marine) | 196 | ||||||
1,877,155 | Wistron Corp. (Technology Hardware, Storage & Peripherals) | 1,161 | ||||||
915,400 | WPG Holdings Ltd. (Electronic Equipment, Instruments & Components) | 1,098 | ||||||
9,441,000 | Yuanta Financial Holding Co. Ltd. (Capital Markets) | 4,746 | ||||||
|
| |||||||
140,441 | ||||||||
|
| |||||||
Thailand — 2.27% |
| |||||||
275,000 | Advanced Info Service Public Co. Ltd. (Wireless Telecommunication Services) | 1,458 | ||||||
12,200 | Bangkok Bank Public Co. Ltd. – Foreign Registered Shares (Banks) | 76 | ||||||
216,400 | Bangkok Bank Public Co. Ltd. – NVDR (Banks) | 1,351 | ||||||
946,200 | Banpu Public Co. Ltd., Registered Shares (Oil, Gas & Consumable Fuels) | 431 | ||||||
538,900 | BEC World Public Co. Ltd. (Media) (a) | 80 | ||||||
3,111,600 | BTS Group Holdings PCL (Road & Rail) | 913 | ||||||
2,982,700 | Delta Electronics (Thailand) Public Co. Ltd. (Electronic Equipment, Instruments & Components) | 6,370 |
See accompanying notes to financial statements.
116
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Value (000) | ||||||
Common Stocks (continued) | ||||||||
Thailand (continued) |
| |||||||
1,504,000 | Delta Electronics Public Co. Ltd. – NVDR (Electronic Equipment, Instruments & Components) | $ | 6,330 | |||||
136,600 | Glow Energy Public Co. Ltd. (Independent Power and Renewable Electricity Producers) | 374 | ||||||
751,800 | Kasikornbank Public Co. Ltd. (Banks) | 4,277 | ||||||
11,061,800 | Krung Thai Bank Public Co. Ltd., Registered Shares (Banks) | 6,527 | ||||||
888,000 | Krung Thai Bank Public Co. Ltd. – NVDR (Banks) | 524 | ||||||
429,142 | PTT Chemical Public Co. Ltd. (Chemicals) | 940 | ||||||
634,175 | PTT Exploration & Production Public Co. Ltd. (Oil, Gas & Consumable Fuels) | 2,201 | ||||||
411,000 | Siam Commercial Bank Public Co. Ltd. – NVDR (Banks) | 1,687 | ||||||
|
| |||||||
33,539 | ||||||||
|
| |||||||
Turkey — 0.90% |
| |||||||
318,518 | Coca-Cola Icecek A/S (Beverages)^ | 1,859 | ||||||
5,336,382 | Enka Insaat ve Sanayi A/S (Industrial Conglomerates) | 4,629 | ||||||
693,800 | Eregli Demir ve Celik Fabrikalari TAS (Metals & Mining) | 945 | ||||||
1 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Class – D (Metals & Mining) (a) | — | ||||||
162,200 | TAV Havalimanlari Holding A/S (Transportation Infrastructure) | 734 | ||||||
120,400 | Tofas Turk Otomobil Fabrikasi A/S (Automobiles) | 385 | ||||||
257,700 | Turk Telekomunikasyon A/S (Diversified Telecommunication Services) (a) | 190 | ||||||
1,484,565 | Turkcell Iletisim Hizmetleri A/S (Wireless Telecommunication Services) | 3,410 | ||||||
203,490 | Turkcell lletisim Hizmetleri A/S, ADR (Wireless Telecommunication Services) | 1,144 | ||||||
|
| |||||||
13,296 | ||||||||
|
| |||||||
United Arab Emirates — 0.51% |
| |||||||
528,300 | Abu Dhabi Commercial Bank PJSC (Banks) | 1,172 | ||||||
209,004 | DP World Ltd. (Transportation Infrastructure) | 3,574 | ||||||
488,800 | Dubai Islamic Bank PJSC (Banks) | 665 | ||||||
542,072 | National Bank of Abu Dhabi (Banks) | 2,081 | ||||||
|
| |||||||
7,492 | ||||||||
|
| |||||||
United Kingdom — 0.83% |
| |||||||
234,933 | Unilever PLC (Personal Products) | 12,333 | ||||||
|
| |||||||
Total Common Stocks | 1,418,425 | |||||||
|
| |||||||
Preferred Stocks — 1.64% | ||||||||
Brazil — 0.90% |
| |||||||
574,100 | Banco do Estado do Rio Grande do Sul SA – Preferred, Series B, B Shares (Banks) | 3,286 | ||||||
670,512 | Companhia Energetica de Minas Gerais SA – Preferred, ADR (Electric Utilities) | 2,398 | ||||||
87,500 | Companhia Paranaense de Energia-COPEL – Preferred, B Shares (Electric Utilities) | 690 |
Shares | Security Description | Value (000) | ||||||
Brazil (continued) |
| |||||||
1,392,367 | Gerdau SA – Preferred, ADR (Metals & Mining)^ | $ | 5,236 | |||||
139,905 | Petroleo Brasileiro SA – Preferred, ADR (Oil, Gas & Consumable Fuels) | 1,621 | ||||||
|
| |||||||
13,231 | ||||||||
|
| |||||||
Colombia — 0.03% |
| |||||||
1,637,100 | Grupo Aval Acciones y Valores SA – Preferred (Banks) | 504 | ||||||
|
| |||||||
South Korea — 0.71% |
| |||||||
22,900 | Hyundai Motor Co. Ltd. – Preferred (Automobiles) | 1,442 | ||||||
35,800 | Hyundai Motor Co. Ltd. 2nd – Preferred (Automobiles) | 2,470 | ||||||
230,850 | Samsung Electronics Co. Ltd. – Preferred (Technology Hardware, Storage & Peripherals) | 6,597 | ||||||
|
| |||||||
10,509 | ||||||||
|
| |||||||
Total Preferred Stocks | 24,244 | |||||||
|
| |||||||
Warrant — 0.00% | ||||||||
Thailand — 0.00% |
| |||||||
345,733 | BTS Group Holdings PCL (Road & Rail) | — | ||||||
|
| |||||||
Total Warrant | — | |||||||
|
| |||||||
Exchange-Traded Fund — 1.37% | ||||||||
520,800 | iShares MSCI Emerging Markets Index Fund ETF | 20,342 | ||||||
|
| |||||||
Total Exchange-Traded Fund | 20,342 | |||||||
|
| |||||||
Investment Companies — 1.06% | ||||||||
7,403,155 | Federated Treasury Obligations Fund, Institutional Shares, 2.25%^^ (c) | 7,403 | ||||||
8,280,531 | State Street Institutional Treasury Plus Money Market Fund, Trust Class, 2.27% (c) | 8,281 | ||||||
|
| |||||||
Total Investment Companies | 15,684 | |||||||
|
| |||||||
Principal Amount (000) | ||||||||
Repurchase Agreement — 0.75% | ||||||||
$ | 11,172 | Jefferies LLC, 3.10%, 1/2/19 (Purchased on 12/31/18, proceeds at maturity $11,173,478 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $11,394,985)^^ | 11,172 | |||||
|
| |||||||
Total Repurchase Agreement | 11,172 | |||||||
|
| |||||||
Total Investments | 1,489,867 | |||||||
Liabilities in excess of | (9,933 | ) | ||||||
|
| |||||||
Net Assets — 100.00% | $ | 1,479,934 | ||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $25,065 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
See accompanying notes to financial statements.
117
Table of Contents
HC CAPITAL TRUST
The Emerging Markets Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
(a) | Representsnon-income producing security. |
(b) | These securities have been deemed illiquid by the Specialist Manager and represents 0.58% of the Portfolio’s net assets. |
(c) | The rate disclosed is the rate in effect on December 31, 2018. |
ADR — American Depositary Receipt
ETF — Exchange-Traded Fund
GDR — Global Depositary Receipt
NVDR —Non-Voting Depository Receipt
REIT — Real Estate Investment Trust
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Emerging Markets Portfolio | Mellon Investments Corporation* | Mellon Investments Corporation** | Parametric Portfolio Associates, LLC | RBC Global Asset Management (UK) Limited | HC Capital Solutions | Total | ||||||||||||||||||
Common Stocks | 38.04 | % | 35.27 | % | — | 22.54 | % | — | 95.85 | % | ||||||||||||||
Preferred Stocks | 0.69 | % | 0.95 | % | — | — | — | 1.64 | % | |||||||||||||||
Warrant | — | 0.00 | % | — | — | — | 0.00 | % | ||||||||||||||||
Exchange-Traded Fund | — | 1.37 | % | — | — | — | 1.37 | % | ||||||||||||||||
Investment Companies | 0.50 | % | 0.12 | % | — | 0.44 | % | 0.00 | % | 1.06 | % | |||||||||||||
Repurchase Agreement | 0.75 | % | 0.00 | % | — | — | — | 0.75 | % | |||||||||||||||
Other Assets (Liabilities) | -0.56 | % | 0.34 | % | -0.31 | % | -0.14 | % | 0.00 | % | -0.67 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total Net Assets | 39.42 | % | 38.05 | % | -0.31 | %^ | 22.84 | % | 0.00 | % | 100.00 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
* | Formerly The Boston Company Asset Management, LLC. |
** | Formerly BNY Mellon Asset Management North America Corporation. |
^ | Temporarily represents a negative balance due to the timing of cash settlements. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following table reflects the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Sold^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
MSCI Emerging Markets Index Future | 19 | 3/15/19 | $ | 918 | $ | (3 | ) | |||||||
|
|
|
| |||||||||||
$ | 918 | $ | (3 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | — | |||||||||||
Total Unrealized Depreciation |
| (3 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (3 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
118
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Asset Backed Securities — 0.46% | ||||||||||||||||
$ | 25 | BMW Vehicle Owner Trust, Series2016-A, Class A4, Callable 5/25/20 @ 100.00 | 1.37 | 12/27/22 | $ | 25 | ||||||||||
50 | Capital One Multi-Asset Execution Trust, Series2017-A4, Class A4 | 1.99 | 7/17/23 | 48 | ||||||||||||
25 | Capital One Multi-Asset Execution Trust, Series2017-A1, Class A1 | 2.00 | 1/17/23 | 25 | ||||||||||||
25 | CarMax Auto Owner Trust, Series2017-2, Class A4, Callable 6/15/21 @ 100.00 | 2.25 | 9/15/22 | 25 | ||||||||||||
100 | Citibank Credit Card Issuance Trust, Series2014-A5, Class A5 | 2.68 | 6/7/23 | 99 | ||||||||||||
20 | Honda Auto Receivables Owner Trust, Series2018-1, Class A3, Callable 7/15/21 @ 100.00 | 2.64 | 2/15/22 | 20 | ||||||||||||
25 | Toyota Auto Receivables Owner Trust, Series2017-A, Class A4, Callable 1/15/21 @ 100.00 | 2.10 | 9/15/22 | 25 | ||||||||||||
25 | Toyota Auto Receivables Owner Trust, Series2018-A, Class A4, Callable 12/15/21 @ 100.00 | 2.52 | 5/15/23 | 25 | ||||||||||||
18 | World Financial Network Credit Card Master Trust, Series2016-A, Class A | 2.03 | 4/15/25 | 18 | ||||||||||||
|
| |||||||||||||||
Total Asset Backed Securities | 310 | |||||||||||||||
|
| |||||||||||||||
Collateralized Mortgage Obligations — 1.43% | ||||||||||||||||
40 | Bank, Series 2017-BNK8, Class A3 | 3.23 | 11/15/50 | 39 | ||||||||||||
25 | Bank, Series 2017-BNK9, Class ASB | 3.47 | 11/15/54 | 25 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4 | 2.88 | 2/10/48 | 24 | ||||||||||||
20 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5 | 3.14 | 2/10/48 | 20 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4 | 3.31 | 4/10/49 | 25 | ||||||||||||
25 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 25 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2015-LC19, Class A4 | 3.18 | 2/10/48 | 25 | ||||||||||||
20 | Commercial Mortgage Trust, Series2015-DC1, Class A5 | 3.35 | 2/10/48 | 20 | ||||||||||||
25 | Commercial Mortgage Trust, Series2013-CR8, Class A5 | 3.61 | (a) | 6/10/46 | 25 | |||||||||||
25 | Commercial Mortgage Trust, Series 2014-UBS3, Class A4 | 3.82 | 6/10/47 | 26 | ||||||||||||
25 | Commercial Mortgage Trust, Series 2013-CR11, Class B | 5.16 | (a) | 8/10/50 | 26 | |||||||||||
10 | FannieMae-ACES, Series2015-M8, Class A2 | 2.90 | (a) | 1/25/25 | 10 | |||||||||||
25 | FannieMae-ACES, Series2016-M1, Class A2 | 2.94 | (a) | 1/25/26 | 25 | |||||||||||
38 | FannieMae-ACES, Series2017-M7, Class A2 | 2.96 | 2/25/27 | 36 | ||||||||||||
25 | FannieMae-ACES, Series2018-M1, Class A2 | 2.99 | (a) | 12/25/27 | 24 | |||||||||||
25 | FannieMae-ACES, Series2017-M12, Class A2 | 3.08 | (a) | 6/25/27 | 25 | |||||||||||
30 | FannieMae-ACES, Series2014-M9, Class A2 | 3.10 | (a) | 7/25/24 | 30 | |||||||||||
25 | FannieMae-ACES, Series2018-M10, Class A2 | 3.38 | (a) | 7/25/28 | 25 | |||||||||||
19 | Freddie Mac, Series K726, Class A1 | 2.60 | 8/25/23 | 19 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass Through Certificates, Series K082, Class A2 | 3.92 | 9/25/28 | 26 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class A2 | 2.31 | 8/25/22 | 25 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 25 | ||||||||||||
11 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 11 | ||||||||||||
30 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K033, Class A2 | 3.06 | (a) | 7/25/23 | 30 | |||||||||||
19 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K716, Class A2 | 3.13 | 6/25/21 | 19 | ||||||||||||
25 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K052, Class A2 | 3.15 | 11/25/25 | 25 | ||||||||||||
20 | GS Mortgage Securities Trust, Series 2015-GC32, Class A2 | 3.06 | 7/10/48 | 20 | ||||||||||||
25 | GS Mortgage Securities Trust, Series2017-GS5, Class A2 | 3.22 | 3/10/50 | 25 | ||||||||||||
50 | GS Mortgage Securities Trust, Series2018-GS9, Class A4 | 3.99 | (a) | 3/10/51 | 50 | |||||||||||
25 | JPMBB Commercial Mortgage Securities Trust, Series2014-C24, Class A5 | 3.64 | 11/15/47 | 25 | ||||||||||||
50 | JPMDB Commercial Mortgage Securities Trust, Series2016-C4, Class A3 | 3.14 | 12/15/49 | 48 | ||||||||||||
21 | JPMorgan Chase Commercial Mortgage Securities Corp., Series2012-C8, Class A3 | 2.83 | 10/15/45 | 21 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series2015-C21, Class ASB | 3.15 | 3/15/48 | 25 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series2013-C9, Class AS | 3.46 | 5/15/46 | 25 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series2014-C19, Class A4 | 3.53 | 12/15/47 | 25 | ||||||||||||
25 | Morgan Stanley BAML Trust, Series2017-C33, Class A5 | 3.60 | 5/15/50 | 25 | ||||||||||||
25 | SG Commercial Mortgage Securities Trust, Series2016-C5, Class A4 | 3.06 | 10/10/48 | 24 | ||||||||||||
8 | WF-RBS Commercial Mortgage Trust, Series2012-C7, Class A1 | 2.30 | 6/15/45 | 8 | ||||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 956 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Mortgages — 21.51% | ||||||||||||||||
33 | Fannie Mae, Pool #AS2673 | 2.00 | 5/1/29 | 32 | ||||||||||||
20 | Fannie Mae, Pool #MA2789 | 2.50 | 10/1/36 | 20 | ||||||||||||
22 | Fannie Mae, Pool #MA3246 | 2.50 | 1/1/33 | 22 |
See accompanying notes to financial statements.
119
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 45 | Fannie Mae, Pool #AU1660 | 2.50 | 7/1/28 | $ | 45 | ||||||||||
22 | Fannie Mae, Pool #MA3154 | 2.50 | 10/1/32 | 21 | ||||||||||||
34 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 34 | ||||||||||||
68 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 67 | ||||||||||||
25 | Fannie Mae, Pool #BD8046 | 2.50 | 9/1/31 | 24 | ||||||||||||
45 | Fannie Mae, Pool #AU6677 | 2.50 | 9/1/28 | 44 | ||||||||||||
22 | Fannie Mae, Pool #AS4946 | 2.50 | 5/1/30 | 22 | ||||||||||||
32 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 30 | ||||||||||||
40 | Fannie Mae, Pool #BC9041 | 2.50 | 11/1/31 | 39 | ||||||||||||
26 | Fannie Mae, Series2015-M1, Class A2 | 2.53 | 9/25/24 | 25 | ||||||||||||
63 | Fannie Mae, Pool #AS0302 | 3.00 | 8/1/43 | 62 | ||||||||||||
79 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 77 | ||||||||||||
51 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 50 | ||||||||||||
94 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 92 | ||||||||||||
12 | Fannie Mae, Pool #AO7628 | 3.00 | 6/1/27 | 12 | ||||||||||||
23 | Fannie Mae, Pool #AL9996 | 3.00 | 4/1/32 | 23 | ||||||||||||
31 | Fannie Mae, Pool #AS5977 | 3.00 | 10/1/30 | 31 | ||||||||||||
58 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 57 | ||||||||||||
25 | Fannie Mae, Pool #MA3377 | 3.00 | 5/1/48 | 24 | ||||||||||||
44 | Fannie Mae, Pool #BD2446 | 3.00 | 1/1/47 | 43 | ||||||||||||
44 | Fannie Mae, Pool #AL9865 | 3.00 | 2/1/47 | 43 | ||||||||||||
22 | Fannie Mae, Pool #MA3127 | 3.00 | 9/1/37 | 22 | ||||||||||||
41 | Fannie Mae, Pool #AS7908 | 3.00 | 9/1/46 | 40 | ||||||||||||
25 | Fannie Mae, Pool #AL9263 | 3.00 | 10/1/46 | 24 | ||||||||||||
17 | Fannie Mae, Pool #890566 | 3.00 | 12/1/43 | 17 | ||||||||||||
22 | Fannie Mae, Pool #BD5545 | 3.00 | 10/1/46 | 22 | ||||||||||||
22 | Fannie Mae, Pool #MA2863 | 3.00 | 1/1/47 | 21 | ||||||||||||
17 | Fannie Mae, Pool #MA2523 | 3.00 | 2/1/36 | 17 | ||||||||||||
21 | Fannie Mae, Pool #MA2897 | 3.00 | 2/1/37 | 21 | ||||||||||||
16 | Fannie Mae, Pool #MA2416 | 3.00 | 10/1/35 | 16 | ||||||||||||
55 | Fannie Mae, Pool #MA2246 | 3.00 | 4/1/30 | 55 | ||||||||||||
24 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 23 | ||||||||||||
24 | Fannie Mae, Pool #MA3237 | 3.00 | 1/1/48 | 23 | ||||||||||||
63 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 63 | ||||||||||||
42 | Fannie Mae, Pool #BC9681 | 3.00 | 6/1/46 | 41 | ||||||||||||
23 | Fannie Mae, Pool #MA3339 | 3.00 | 4/1/33 | 23 | ||||||||||||
25 | Fannie Mae, Pool #BH8817 | 3.00 | 10/1/47 | 24 | ||||||||||||
43 | Fannie Mae, Pool #AS8276 | 3.00 | 11/1/46 | 42 | ||||||||||||
43 | Fannie Mae, Pool #BC9003 | 3.00 | 11/1/46 | 42 | ||||||||||||
43 | Fannie Mae, Pool #BC4764 | 3.00 | 10/1/46 | 42 | ||||||||||||
88 | Fannie Mae, Pool #AS8483 | 3.00 | 12/1/46 | 86 | ||||||||||||
21 | Fannie Mae, Pool #AS8739 | 3.00 | 2/1/37 | 21 | ||||||||||||
59 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 58 | ||||||||||||
52 | Fannie Mae, Pool #AY2961 | 3.00 | 5/1/45 | 51 | ||||||||||||
34 | Fannie Mae, Pool #AU8932 | 3.00 | 11/1/28 | 34 | ||||||||||||
45 | Fannie Mae, Pool #BD5797 | 3.00 | 9/1/46 | 44 | ||||||||||||
29 | Fannie Mae, Pool #AU3353 | 3.00 | 8/1/43 | 29 | ||||||||||||
26 | Fannie Mae, Pool #AZ2936 | 3.00 | 9/1/45 | 25 | ||||||||||||
39 | Fannie Mae, Pool #AB2047 | 3.00 | 1/1/26 | 39 | ||||||||||||
39 | Fannie Mae, Pool #MA1980 | 3.50 | 8/1/44 | 40 | ||||||||||||
25 | Fannie Mae, Pool #MA3148 | 3.50 | 10/1/47 | 25 | ||||||||||||
24 | Fannie Mae, Pool #MA3305 | 3.50 | 3/1/48 | 24 | ||||||||||||
44 | Fannie Mae, Pool #MA3026 | 3.50 | 6/1/47 | 44 | ||||||||||||
38 | Fannie Mae, Pool #AX9530 | 3.50 | 2/1/45 | 38 |
See accompanying notes to financial statements.
120
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HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 15 | Fannie Mae, Pool #AJ1886 | 3.50 | 3/1/42 | $ | 15 | ||||||||||
21 | Fannie Mae, Pool #MA3059 | 3.50 | 7/1/37 | 22 | ||||||||||||
95 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 96 | ||||||||||||
47 | Fannie Mae, Pool #AB5511 | 3.50 | 7/1/42 | 48 | ||||||||||||
37 | Fannie Mae, Pool #MA2706 | 3.50 | 8/1/46 | 37 | ||||||||||||
25 | Fannie Mae, Pool #MA3494 | 3.50 | 10/1/48 | 25 | ||||||||||||
46 | Fannie Mae, Pool #MA3182 | 3.50 | 11/1/47 | 46 | ||||||||||||
17 | Fannie Mae, Pool #MA2522 | 3.50 | 2/1/46 | 17 | ||||||||||||
28 | Fannie Mae, Pool #AY3377 | 3.50 | 4/1/45 | 28 | ||||||||||||
21 | Fannie Mae, Pool #BM1568 | 3.50 | 7/1/47 | 21 | ||||||||||||
17 | Fannie Mae, Pool #MA2389 | 3.50 | 9/1/35 | 17 | ||||||||||||
39 | Fannie Mae, Pool #AB2052 | 3.50 | 1/1/26 | 39 | ||||||||||||
54 | Fannie Mae, Pool #MA2125 | 3.50 | 12/1/44 | 54 | ||||||||||||
50 | Fannie Mae, Pool #MA3520 | 3.50 | 10/1/48 | 50 | ||||||||||||
24 | Fannie Mae, Pool #BK9038 | 3.50 | 10/1/33 | 24 | ||||||||||||
27 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 28 | ||||||||||||
15 | Fannie Mae, Pool #AS4236 | 3.50 | 1/1/45 | 15 | ||||||||||||
84 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 85 | ||||||||||||
192 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 193 | ||||||||||||
48 | Fannie Mae, Pool #BJ4916 | 3.50 | 3/1/48 | 48 | ||||||||||||
58 | Fannie Mae, Pool #AS3133 | 3.50 | 8/1/44 | 59 | ||||||||||||
16 | Fannie Mae, Pool #BA1893 | 3.50 | 8/1/45 | 16 | ||||||||||||
33 | Fannie Mae, Pool #AZ0862 | 3.50 | 7/1/45 | 33 | ||||||||||||
55 | Fannie Mae, Pool #AS4771 | 3.50 | 4/1/45 | 55 | ||||||||||||
44 | Fannie Mae, Pool #AS4772 | 3.50 | 4/1/45 | 45 | ||||||||||||
25 | Fannie Mae, Pool #BK7428 | 3.50 | 8/1/48 | 25 | ||||||||||||
23 | Fannie Mae, Pool #AS0024 | 3.50 | 7/1/43 | 23 | ||||||||||||
38 | Fannie Mae, Pool #BA3123 | 3.50 | 2/1/46 | 38 | ||||||||||||
31 | Fannie Mae, Pool #BC1158 | 3.50 | 2/1/46 | 31 | ||||||||||||
36 | Fannie Mae, Pool #AS7388 | 3.50 | 6/1/46 | 36 | ||||||||||||
17 | Fannie Mae, Pool #AS6394 | 3.50 | 12/1/45 | 18 | ||||||||||||
24 | Fannie Mae, Pool #BJ3716 | 3.50 | 12/1/47 | 25 | ||||||||||||
35 | Fannie Mae, Pool #AS6102 | 3.50 | 11/1/45 | 35 | ||||||||||||
39 | Fannie Mae, Pool #AS7491 | 3.50 | 7/1/46 | 39 | ||||||||||||
36 | Fannie Mae, Pool #BC2926 | 3.50 | 3/1/46 | 36 | ||||||||||||
14 | Fannie Mae, Pool #AS5596 | 3.50 | 8/1/45 | 14 | ||||||||||||
21 | Fannie Mae, Pool #BD5046 | 3.50 | 2/1/47 | 21 | ||||||||||||
46 | Fannie Mae, Pool #MA3243 | 3.50 | 1/1/38 | 47 | ||||||||||||
21 | Fannie Mae, Pool #BC0443 | 3.50 | 12/1/45 | 21 | ||||||||||||
21 | Fannie Mae, Pool #BE8373 | 4.00 | 2/1/47 | 22 | ||||||||||||
21 | Fannie Mae, Pool #CA0183 | 4.00 | 8/1/47 | 22 | ||||||||||||
44 | Fannie Mae, Pool #MA3121 | 4.00 | 9/1/47 | 44 | ||||||||||||
25 | Fannie Mae, Pool #BD7060 | 4.00 | 3/1/47 | 25 | ||||||||||||
25 | Fannie Mae, Pool #BD7165 | 4.00 | 4/1/47 | 26 | ||||||||||||
25 | Fannie Mae, Pool #BK0920 | 4.00 | 7/1/48 | 25 | ||||||||||||
42 | Fannie Mae, Pool #BM2002 | 4.00 | 10/1/47 | 43 | ||||||||||||
42 | Fannie Mae, Pool #BM1066 | 4.00 | 2/1/47 | 43 | ||||||||||||
22 | Fannie Mae, Pool #MA3183 | 4.00 | 11/1/47 | 23 | ||||||||||||
24 | Fannie Mae, Pool #BK0909 | 4.00 | 7/1/48 | 25 | ||||||||||||
17 | Fannie Mae, Pool #AZ7362 | 4.00 | 11/1/45 | 17 | ||||||||||||
37 | Fannie Mae, Pool #AS6213 | 4.00 | 11/1/45 | 38 | ||||||||||||
48 | Fannie Mae, Pool #AS8823 | 4.00 | 2/1/47 | 49 | ||||||||||||
44 | Fannie Mae, Pool #AS9831 | 4.00 | 6/1/47 | 45 | ||||||||||||
23 | Fannie Mae, Pool #MA3277 | 4.00 | 2/1/48 | 24 |
See accompanying notes to financial statements.
121
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 42 | Fannie Mae, Pool #AS9314 | 4.00 | 3/1/47 | $ | 42 | ||||||||||
26 | Fannie Mae, Pool #AU8849 | 4.00 | 11/1/43 | 26 | ||||||||||||
11 | Fannie Mae, Pool #AZ1210 | 4.00 | 5/1/45 | 11 | ||||||||||||
45 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 47 | ||||||||||||
47 | Fannie Mae, Pool #AS3467 | 4.00 | 10/1/44 | 48 | ||||||||||||
28 | Fannie Mae, Pool #AS3452 | 4.00 | 9/1/44 | 28 | ||||||||||||
12 | Fannie Mae, Pool #AV0606 | 4.00 | 11/1/43 | 13 | ||||||||||||
19 | Fannie Mae, Pool #AS8532 | 4.00 | 12/1/46 | 20 | ||||||||||||
21 | Fannie Mae, Pool #AS7600 | 4.00 | 7/1/46 | 21 | ||||||||||||
46 | Fannie Mae, Pool #AS3468 | 4.00 | 10/1/44 | 47 | ||||||||||||
35 | Fannie Mae, Pool #AL8139 | 4.00 | 2/1/32 | 36 | ||||||||||||
39 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 40 | ||||||||||||
64 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 66 | ||||||||||||
27 | Fannie Mae, Pool #MA0534 | 4.00 | 10/1/30 | 28 | ||||||||||||
17 | Fannie Mae, Pool #MA2415 | 4.00 | 10/1/45 | 17 | ||||||||||||
43 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 44 | ||||||||||||
44 | Fannie Mae, Pool #MA2995 | 4.00 | 5/1/47 | 45 | ||||||||||||
36 | Fannie Mae, Pool #AX0841 | 4.00 | 9/1/44 | 37 | ||||||||||||
112 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 115 | ||||||||||||
11 | Fannie Mae, Pool #AY9901 | 4.00 | 7/1/45 | 12 | ||||||||||||
9 | Fannie Mae, Pool #930998 | 4.50 | 4/1/29 | 10 | ||||||||||||
24 | Fannie Mae, Pool #CA1711 | 4.50 | 5/1/48 | 25 | ||||||||||||
— | Fannie Mae, Pool #AB0339 | 4.50 | 1/1/20 | — | ||||||||||||
22 | Fannie Mae, Pool #CA0623 | 4.50 | 10/1/47 | 23 | ||||||||||||
14 | Fannie Mae, Pool #AU9017 | 4.50 | 9/1/43 | 14 | ||||||||||||
25 | Fannie Mae, Pool #BM3286 | 4.50 | 11/1/47 | 25 | ||||||||||||
72 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 76 | ||||||||||||
— | Fannie Mae, Pool #745278 | 4.50 | 6/1/19 | — | ||||||||||||
53 | Fannie Mae, Pool #AE0954 | 4.50 | 2/1/41 | 56 | ||||||||||||
19 | Fannie Mae, Pool #AL6567 | 4.50 | 10/1/44 | 20 | ||||||||||||
56 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 59 | ||||||||||||
18 | Fannie Mae, Pool #BH3310 | 4.50 | 5/1/47 | 19 | ||||||||||||
24 | Fannie Mae, Pool #BK4850 | 4.50 | 5/1/48 | 25 | ||||||||||||
19 | Fannie Mae, Pool #AS2751 | 4.50 | 6/1/44 | 19 | ||||||||||||
25 | Fannie Mae, Pool #BK6328 | 4.50 | 6/1/48 | 26 | ||||||||||||
16 | Fannie Mae, Pool #BE6489 | 4.50 | 1/1/47 | 17 | ||||||||||||
2 | Fannie Mae, Pool #735646 | 4.50 | 7/1/20 | 2 | ||||||||||||
6 | Fannie Mae, Pool #829106 | 4.50 | 10/1/20 | 6 | ||||||||||||
11 | Fannie Mae, Pool #725027 | 5.00 | 11/1/33 | 12 | ||||||||||||
8 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 9 | ||||||||||||
55 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 58 | ||||||||||||
25 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 27 | ||||||||||||
24 | Fannie Mae, Pool #BM3904 | 5.00 | 5/1/48 | 25 | ||||||||||||
25 | Fannie Mae, Pool #BE3782 | 5.00 | 7/1/47 | 26 | ||||||||||||
10 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 11 | ||||||||||||
22 | Fannie Mae, Pool #959451 | 6.00 | 12/1/37 | 24 | ||||||||||||
60 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 65 | ||||||||||||
31 | Fannie Mae, Pool #AE0442 | 6.50 | 1/1/39 | 36 | ||||||||||||
25 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/32 | 25 | ||||||||||||
25 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/32 | 25 | ||||||||||||
25 | Fannie Mae, 30 YR TBA | 3.00 | 1/25/49 | 24 | ||||||||||||
75 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/49 | 75 | ||||||||||||
25 | Fannie Mae, 30 YR TBA | 4.00 | 2/25/48 | 25 | ||||||||||||
225 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/49 | 229 |
See accompanying notes to financial statements.
122
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 25 | Fannie Mae, 30 YR TBA | 4.50 | 2/25/49 | $ | 26 | ||||||||||
100 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/49 | 104 | ||||||||||||
29 | Freddie Mac, Pool #J25686 | 2.00 | 9/1/28 | 28 | ||||||||||||
18 | Freddie Mac, Pool #G07445 | 2.50 | 7/1/43 | 17 | ||||||||||||
39 | Freddie Mac, Pool #J35896 | 2.50 | 12/1/31 | 38 | ||||||||||||
24 | Freddie Mac, Pool #G18687 | 2.50 | 5/1/33 | 24 | ||||||||||||
25 | Freddie Mac, Pool #G18683 | 2.50 | 4/1/33 | 24 | ||||||||||||
61 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 61 | ||||||||||||
20 | Freddie Mac, Pool #G18635 | 2.50 | 3/1/32 | 20 | ||||||||||||
45 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 45 | ||||||||||||
45 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 45 | ||||||||||||
25 | Freddie Mac, Pool #J25193 | 3.00 | 8/1/23 | 25 | ||||||||||||
95 | Freddie Mac, Pool #C09035 | 3.00 | 4/1/43 | 93 | ||||||||||||
24 | Freddie Mac, Pool #J36428 | 3.00 | 2/1/32 | 24 | ||||||||||||
21 | Freddie Mac, Pool #G08732 | 3.00 | 11/1/46 | 21 | ||||||||||||
25 | Freddie Mac, Pool #G08855 | 3.00 | 10/1/48 | 24 | ||||||||||||
25 | Freddie Mac, Pool #G08803 | 3.00 | 3/1/48 | 24 | ||||||||||||
25 | Freddie Mac, Pool #G08783 | 3.00 | 10/1/47 | 24 | ||||||||||||
16 | Freddie Mac, Pool #J15438 | 3.00 | 5/1/21 | 16 | ||||||||||||
24 | Freddie Mac, Pool #J38057 | 3.00 | 12/1/32 | 24 | ||||||||||||
22 | Freddie Mac, Pool #Q46441 | 3.00 | 2/1/47 | 22 | ||||||||||||
22 | Freddie Mac, Pool #Q44665 | 3.00 | 11/1/46 | 22 | ||||||||||||
32 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 32 | ||||||||||||
88 | Freddie Mac, Pool #G08741 | 3.00 | 1/1/47 | 85 | ||||||||||||
44 | Freddie Mac, Pool #G08750 | 3.00 | 3/1/47 | 43 | ||||||||||||
11 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 11 | ||||||||||||
18 | Freddie Mac, Pool #G18601 | 3.00 | 5/1/31 | 17 | ||||||||||||
44 | Freddie Mac, Pool #G18663 | 3.00 | 10/1/32 | 44 | ||||||||||||
38 | Freddie Mac, Pool #C91709 | 3.00 | 6/1/33 | 38 | ||||||||||||
14 | Freddie Mac, Pool #C91809 | 3.00 | 2/1/35 | 14 | ||||||||||||
21 | Freddie Mac, Pool #C91927 | 3.00 | 5/1/37 | 21 | ||||||||||||
22 | Freddie Mac, Pool #Q44452 | 3.00 | 11/1/46 | 21 | ||||||||||||
43 | Freddie Mac, Pool #G08737 | 3.00 | 12/1/46 | 42 | ||||||||||||
45 | Freddie Mac, Pool #G60989 | 3.00 | 12/1/46 | 44 | ||||||||||||
66 | Freddie Mac, Pool #G08631 | 3.00 | 3/1/45 | 65 | ||||||||||||
46 | Freddie Mac, Pool #G08701 | 3.00 | 4/1/46 | 45 | ||||||||||||
17 | Freddie Mac, Pool #G08635 | 3.00 | 4/1/45 | 17 | ||||||||||||
65 | Freddie Mac, Pool #G08524 | 3.00 | 3/1/43 | 64 | ||||||||||||
97 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 95 | ||||||||||||
25 | Freddie Mac, Pool #V83453 | 3.50 | 10/1/47 | 25 | ||||||||||||
34 | Freddie Mac, Pool #Q43933 | 3.50 | 10/1/46 | 34 | ||||||||||||
49 | Freddie Mac, Pool #G08650 | 3.50 | 6/1/45 | 49 | ||||||||||||
23 | Freddie Mac, Pool #Q52319 | 3.50 | 11/1/47 | 23 | ||||||||||||
25 | Freddie Mac, Pool #Q53176 | 3.50 | 12/1/47 | 25 | ||||||||||||
25 | Freddie Mac, Pool #Q57871 | 3.50 | 8/1/48 | 25 | ||||||||||||
52 | Freddie Mac, Pool #C03759 | 3.50 | 2/1/42 | 52 | ||||||||||||
18 | Freddie Mac, Pool #J14069 | 3.50 | 1/1/26 | 19 | ||||||||||||
37 | Freddie Mac, Pool #G08698 | 3.50 | 3/1/46 | 37 | ||||||||||||
48 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 48 | ||||||||||||
16 | Freddie Mac, Pool #G08627 | 3.50 | 2/1/45 | 16 | ||||||||||||
60 | Freddie Mac, Pool #G08667 | 3.50 | 9/1/45 | 61 | ||||||||||||
22 | Freddie Mac, Pool #G08620 | 3.50 | 12/1/44 | 23 | ||||||||||||
57 | Freddie Mac, Pool #G08554 | 3.50 | 10/1/43 | 57 | ||||||||||||
24 | Freddie Mac, Pool #G18707 | 3.50 | 9/1/33 | 25 |
See accompanying notes to financial statements.
123
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 40 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | $ | 41 | ||||||||||
71 | Freddie Mac, Pool #G08636 | 3.50 | 4/1/45 | 71 | ||||||||||||
24 | Freddie Mac, Pool #C92003 | 3.50 | 7/1/38 | 24 | ||||||||||||
13 | Freddie Mac, Pool #J13919 | 3.50 | 12/1/20 | 13 | ||||||||||||
22 | Freddie Mac, Pool #G08757 | 3.50 | 4/1/47 | 22 | ||||||||||||
19 | Freddie Mac, Pool #G08702 | 3.50 | 4/1/46 | 19 | ||||||||||||
45 | Freddie Mac, Pool #G61148 | 3.50 | 9/1/47 | 45 | ||||||||||||
35 | Freddie Mac, Pool #G08687 | 3.50 | 1/1/46 | 35 | ||||||||||||
22 | Freddie Mac, Pool #G08770 | 3.50 | 7/1/47 | 22 | ||||||||||||
38 | Freddie Mac, Pool #G08784 | 3.50 | 10/1/47 | 38 | ||||||||||||
65 | Freddie Mac, Pool #G08681 | 3.50 | 12/1/45 | 65 | ||||||||||||
43 | Freddie Mac, Pool #G08761 | 3.50 | 5/1/47 | 43 | ||||||||||||
24 | Freddie Mac, Pool #G08816 | 3.50 | 6/1/48 | 24 | ||||||||||||
34 | Freddie Mac, Pool #G08693 | 3.50 | 3/1/46 | 34 | ||||||||||||
18 | Freddie Mac, Pool #G08623 | 3.50 | 1/1/45 | 18 | ||||||||||||
103 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 104 | ||||||||||||
15 | Freddie Mac, Pool #J30284 | 3.50 | 11/1/29 | 15 | ||||||||||||
17 | Freddie Mac, Pool #C91395 | 4.00 | 9/1/31 | 17 | ||||||||||||
1 | Freddie Mac, Pool #J06163 | 4.00 | 1/1/20 | 1 | ||||||||||||
44 | Freddie Mac, Pool #G08606 | 4.00 | 9/1/44 | 45 | ||||||||||||
27 | Freddie Mac, Pool #G08771 | 4.00 | 7/1/47 | 28 | ||||||||||||
43 | Freddie Mac, Pool #G08775 | 4.00 | 8/1/47 | 44 | ||||||||||||
26 | Freddie Mac, Pool #G08563 | 4.00 | 1/1/44 | 26 | ||||||||||||
60 | Freddie Mac, Pool #G08637 | 4.00 | 4/1/45 | 61 | ||||||||||||
36 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 37 | ||||||||||||
25 | Freddie Mac, Pool #G08801 | 4.00 | 2/1/48 | 25 | ||||||||||||
5 | Freddie Mac, Pool #G11690 | 4.00 | 2/1/20 | 5 | ||||||||||||
43 | Freddie Mac, Pool #V83344 | 4.00 | 8/1/47 | 44 | ||||||||||||
36 | Freddie Mac, Pool #G08669 | 4.00 | 9/1/45 | 37 | ||||||||||||
48 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 49 | ||||||||||||
24 | Freddie Mac, Pool #Q58680 | 4.00 | 9/1/48 | 24 | ||||||||||||
36 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 37 | ||||||||||||
38 | Freddie Mac, Pool #G08752 | 4.00 | 3/1/47 | 39 | ||||||||||||
45 | Freddie Mac, Pool #G06506 | 4.00 | 12/1/40 | 46 | ||||||||||||
57 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 59 | ||||||||||||
38 | Freddie Mac, Pool #G01890 | 4.50 | 10/1/35 | 39 | ||||||||||||
7 | Freddie Mac, Pool #C90686 | 4.50 | 6/1/23 | 8 | ||||||||||||
20 | Freddie Mac, Pool #G08781 | 4.50 | 9/1/47 | 21 | ||||||||||||
15 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | 15 | ||||||||||||
25 | Freddie Mac, Pool #Q58217 | 4.50 | 9/1/48 | 26 | ||||||||||||
24 | Freddie Mac, Pool #G08820 | 4.50 | 5/1/48 | 24 | ||||||||||||
23 | Freddie Mac, Pool #Q52321 | 4.50 | 11/1/47 | 24 | ||||||||||||
19 | Freddie Mac, Pool #A97186 | 4.50 | 3/1/41 | 20 | ||||||||||||
25 | Freddie Mac, Pool #G05904 | 5.00 | 9/1/39 | 27 | ||||||||||||
23 | Freddie Mac, Pool #G04817 | 5.00 | 9/1/38 | 24 | ||||||||||||
24 | Freddie Mac, Pool #G01962 | 5.00 | 12/1/35 | 25 | ||||||||||||
115 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 124 | ||||||||||||
4 | Freddie Mac, Pool #C90989 | 6.00 | 9/1/26 | 5 | ||||||||||||
23 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 25 | ||||||||||||
12 | Freddie Mac, Pool #G03616 | 6.00 | 12/1/37 | 13 | ||||||||||||
25 | Freddie Mac, Gold 15 YR TBA | 3.00 | 1/15/33 | 25 | ||||||||||||
25 | Freddie Mac, Gold 15 YR TBA | 4.00 | 1/15/33 | 26 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 3.00 | 1/15/49 | 24 | ||||||||||||
75 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/48 | 75 |
See accompanying notes to financial statements.
124
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 275 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/48 | $ | 279 | ||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 4.50 | 2/15/47 | 26 | ||||||||||||
75 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/48 | 78 | ||||||||||||
25 | Freddie Mac, Gold 30 YR TBA | 5.00 | 1/15/48 | 26 | ||||||||||||
11 | Government National Mortgage Association, Pool #MA1155 | 2.50 | 7/20/43 | 11 | ||||||||||||
9 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 9 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA4194 | 2.50 | 1/20/47 | 20 | ||||||||||||
20 | Government National Mortgage Association, Pool #MA4355 | 2.50 | 4/20/32 | 20 | ||||||||||||
31 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 31 | ||||||||||||
28 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 28 | ||||||||||||
32 | Government National Mortgage Association, Pool #MA3309 | 3.00 | 12/20/45 | 31 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA3375 | 3.00 | 1/20/46 | 46 | ||||||||||||
43 | Government National Mortgage Association, Pool #MA2520 | 3.00 | 1/20/45 | 42 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA4320 | 3.00 | 3/20/47 | 40 | ||||||||||||
44 | Government National Mortgage Association, Pool #MA1011 | 3.00 | 5/20/43 | 44 | ||||||||||||
52 | Government National Mortgage Association, Pool #MA1447 | 3.00 | 11/20/43 | 51 | ||||||||||||
17 | Government National Mortgage Association, Pool #MA3596 | 3.00 | 4/20/46 | 17 | ||||||||||||
44 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 44 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA4777 | 3.00 | 10/20/47 | 45 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA2960 | 3.00 | 7/20/45 | 31 | ||||||||||||
71 | Government National Mortgage Association, Pool #MA4899 | 3.00 | 12/20/47 | 69 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA3662 | 3.00 | 5/20/46 | 35 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA5018 | 3.00 | 2/20/48 | 24 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA3735 | 3.00 | 6/20/46 | 18 | ||||||||||||
52 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 52 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA2444 | 3.00 | 12/20/44 | 21 | ||||||||||||
37 | Government National Mortgage Association, Pool #MA3802 | 3.00 | 7/20/46 | 37 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA3873 | 3.00 | 8/20/46 | 23 | ||||||||||||
46 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 46 | ||||||||||||
39 | Government National Mortgage Association, Pool #MA3936 | 3.00 | 9/20/46 | 39 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA4261 | 3.00 | 2/20/47 | 20 | ||||||||||||
23 | Government National Mortgage Association, Pool #AA5897 | 3.00 | 12/15/42 | 23 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA4068 | 3.00 | 11/20/46 | 24 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4837 | 3.50 | 11/20/47 | 23 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4778 | 3.50 | 10/20/47 | 23 | ||||||||||||
14 | Government National Mortgage Association, Pool #AB9211 | 3.50 | 11/15/42 | 14 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA3244 | 3.50 | 11/20/45 | 22 | ||||||||||||
23 | Government National Mortgage Association, Pool #MA4719 | 3.50 | 9/20/47 | 23 | ||||||||||||
38 | Government National Mortgage Association, Pool #MA0318 | 3.50 | 8/20/42 | 39 | ||||||||||||
48 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | 48 | ||||||||||||
38 | Government National Mortgage Association, Pool #MA4586 | 3.50 | 7/20/47 | 38 | ||||||||||||
49 | Government National Mortgage Association, Pool #MA1157 | 3.50 | 7/20/43 | 49 | ||||||||||||
69 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 70 | ||||||||||||
40 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | 41 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA1012 | 3.50 | 5/20/43 | 21 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 36 | ||||||||||||
45 | Government National Mortgage Association, Pool #MA4652 | 3.50 | 8/20/47 | 45 | ||||||||||||
28 | Government National Mortgage Association, Pool #MA3310 | 3.50 | 12/20/45 | 29 | ||||||||||||
19 | Government National Mortgage Association, Pool #AJ0411 | 3.50 | 9/15/44 | 19 | ||||||||||||
30 | Government National Mortgage Association, Pool #MA3105 | 3.50 | 9/20/45 | 31 | ||||||||||||
39 | Government National Mortgage Association, Pool #MA4262 | 3.50 | 2/20/47 | 40 | ||||||||||||
38 | Government National Mortgage Association, Pool #MA4127 | 3.50 | 12/20/46 | 38 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA4004 | 3.50 | 10/20/46 | 36 | ||||||||||||
36 | Government National Mortgage Association, Pool #MA3937 | 3.50 | 9/20/46 | 36 |
See accompanying notes to financial statements.
125
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 35 | Government National Mortgage Association, Pool #MA3874 | 3.50 | 8/20/46 | $ | 35 | ||||||||||
40 | Government National Mortgage Association, Pool #MA4321 | 3.50 | 3/20/47 | 40 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA2371 | 3.50 | 11/20/44 | 32 | ||||||||||||
34 | Government National Mortgage Association, Pool #MA3736 | 3.50 | 6/20/46 | 34 | ||||||||||||
16 | Government National Mortgage Association, Pool #MA3663 | 3.50 | 5/20/46 | 16 | ||||||||||||
9 | Government National Mortgage Association, Pool #MA1600 | 3.50 | 1/20/44 | 9 | ||||||||||||
29 | Government National Mortgage Association, Pool #MA2223 | 3.50 | 9/20/44 | 30 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA4382 | 3.50 | 4/20/47 | 41 | ||||||||||||
43 | Government National Mortgage Association, Pool #MA3173 | 3.50 | 10/20/45 | 43 | ||||||||||||
16 | Government National Mortgage Association, Pool #MA3454 | 3.50 | 2/20/46 | 16 | ||||||||||||
30 | Government National Mortgage Association, Pool #MA3376 | 3.50 | 1/20/46 | 30 | ||||||||||||
35 | Government National Mortgage Association, Pool #MA3803 | 3.50 | 7/20/46 | 35 | ||||||||||||
15 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 15 | ||||||||||||
43 | Government National Mortgage Association, Pool #MA4510 | 3.50 | 6/20/47 | 43 | ||||||||||||
44 | Government National Mortgage Association, Pool #MA2445 | 3.50 | 12/20/44 | 45 | ||||||||||||
47 | Government National Mortgage Association, Pool #MA3521 | 3.50 | 3/20/46 | 47 | ||||||||||||
31 | Government National Mortgage Association, Pool #MA3597 | 3.50 | 4/20/46 | 31 | ||||||||||||
19 | Government National Mortgage Association, Pool #AM4971 | 3.50 | 4/20/45 | 19 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA2826 | 3.50 | 5/20/45 | 24 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA2961 | 3.50 | 7/20/45 | 26 | ||||||||||||
17 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 18 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA2304 | 4.00 | 10/20/44 | 22 | ||||||||||||
19 | Government National Mortgage Association, Pool #MA3522 | 4.00 | 3/20/46 | 19 | ||||||||||||
26 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 26 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 22 | ||||||||||||
38 | Government National Mortgage Association, Pool #MA4511 | 4.00 | 6/20/47 | 39 | ||||||||||||
20 | Government National Mortgage Association, Pool #BD9886 | 4.00 | 1/15/48 | 21 | ||||||||||||
19 | Government National Mortgage Association, Pool #MA4452 | 4.00 | 5/20/47 | 19 | ||||||||||||
37 | Government National Mortgage Association, Pool #MA4383 | 4.00 | 4/20/47 | 38 | ||||||||||||
13 | Government National Mortgage Association, Pool #MA3377 | 4.00 | 1/20/46 | 13 | ||||||||||||
24 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 25 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA4322 | 4.00 | 3/20/47 | 18 | ||||||||||||
11 | Government National Mortgage Association, Pool #MA0023 | 4.00 | 4/20/42 | 12 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA3737 | 4.00 | 6/20/46 | 42 | ||||||||||||
25 | Government National Mortgage Association, Pool #BB5932 | 4.00 | 9/15/47 | 26 | ||||||||||||
24 | Government National Mortgage Association, Pool #MA3804 | 4.00 | 7/20/46 | 25 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA4653 | 4.00 | 8/20/47 | 21 | ||||||||||||
40 | Government National Mortgage Association, Pool #MA4587 | 4.00 | 7/20/47 | 41 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA2224 | 4.00 | 9/20/44 | 22 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 21 | ||||||||||||
12 | Government National Mortgage Association, Pool #MA3245 | 4.00 | 11/20/45 | 12 | ||||||||||||
17 | Government National Mortgage Association, Pool #MA4263 | 4.00 | 2/20/47 | 17 | ||||||||||||
70 | Government National Mortgage Association, Pool #MA1091 | 4.00 | 6/20/43 | 72 | ||||||||||||
44 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 46 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA5193 | 4.50 | 5/20/48 | 26 | ||||||||||||
21 | Government National Mortgage Association, Pool #BA2485 | 4.50 | 4/15/47 | 22 | ||||||||||||
16 | Government National Mortgage Association, Pool #MA2373 | 4.50 | 11/20/44 | 17 | ||||||||||||
74 | Government National Mortgage Association, Pool #4801 | 4.50 | 9/20/40 | 78 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA4721 | 4.50 | 9/20/47 | 19 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA2756 | 4.50 | 4/20/45 | 23 | ||||||||||||
18 | Government National Mortgage Association, Pool #738906 | 4.50 | 10/15/41 | 18 | ||||||||||||
9 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 9 | ||||||||||||
21 | Government National Mortgage Association, Pool #MA5080 | 5.00 | 3/20/48 | 22 | ||||||||||||
44 | Government National Mortgage Association, Pool #4559 | 5.00 | 10/20/39 | 47 |
See accompanying notes to financial statements.
126
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 32 | Government National Mortgage Association, Pool #697946 | 5.00 | 3/15/39 | $ | 34 | ||||||||||
20 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 21 | ||||||||||||
19 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 20 | ||||||||||||
20 | Government National Mortgage Association, Pool #4222 | 6.00 | 8/20/38 | 21 | ||||||||||||
2 | Government National Mortgage Association, Pool #582199 | 6.50 | 1/15/32 | 3 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 3.00 | 1/20/49 | 148 | ||||||||||||
225 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/48 | 227 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/48 | 26 | ||||||||||||
325 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/49 | 333 | ||||||||||||
50 | Government National Mortgage Association, 30 YR TBA | 4.50 | 2/20/48 | 52 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/48 | 155 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 5.00 | 2/20/48 | 26 | ||||||||||||
25 | Government National Mortgage Association, 30 YR TBA | 5.00 | 11/20/48 | 26 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 14,419 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Securities — 1.20% | ||||||||||||||||
65 | Fannie Mae | 1.25 | 5/6/21 | 64 | ||||||||||||
25 | Fannie Mae | 1.38 | 10/7/21 | 24 | ||||||||||||
60 | Fannie Mae | 1.50 | 6/22/20 | 59 | ||||||||||||
50 | Fannie Mae, Callable 1/27/19 @ 100.00 | 1.70 | 1/27/20 | 49 | ||||||||||||
30 | Fannie Mae | 2.13 | 4/24/26 | 29 | ||||||||||||
10 | Fannie Mae | 5.63 | 7/15/37 | 13 | ||||||||||||
20 | Fannie Mae | 6.63 | 11/15/30 | 27 | ||||||||||||
25 | Federal Home Loan Bank | 1.13 | 7/14/21 | 24 | ||||||||||||
25 | Federal Home Loan Bank | 1.38 | 9/28/20 | 24 | ||||||||||||
55 | Federal Home Loan Bank | 1.88 | 11/29/21 | 55 | ||||||||||||
25 | Federal Home Loan Bank | 2.13 | 3/10/23 | 24 | ||||||||||||
40 | Federal Home Loan Bank | 2.13 | 2/11/20 | 40 | ||||||||||||
40 | Federal Home Loan Bank | 2.88 | 9/13/24 | 40 | ||||||||||||
20 | Federal Home Loan Bank | 4.13 | 3/13/20 | 20 | ||||||||||||
15 | Federal Home Loan Bank | 5.63 | 6/11/21 | 16 | ||||||||||||
25 | Freddie Mac | 1.38 | 5/1/20 | 25 | ||||||||||||
20 | Freddie Mac | 1.40 | 8/22/19 | 20 | ||||||||||||
25 | Freddie Mac | 1.50 | 1/17/20 | 25 | ||||||||||||
50 | Freddie Mac | 1.88 | 11/17/20 | 48 | ||||||||||||
40 | Freddie Mac | 2.38 | 1/13/22 | 40 | ||||||||||||
15 | Freddie Mac | 6.25 | 7/15/32 | 20 | ||||||||||||
25 | Freddie Mac | 6.75 | 9/15/29 | 33 | ||||||||||||
10 | Freddie Mac | 6.75 | 3/15/31 | 14 | ||||||||||||
5 | Tennessee Valley Authority | 3.50 | 12/15/42 | 5 | ||||||||||||
30 | Tennessee Valley Authority | 5.88 | 4/1/36 | 39 | ||||||||||||
20 | Tennessee Valley Authority, Series E | 6.75 | 11/1/25 | 25 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Securities | 802 | |||||||||||||||
|
| |||||||||||||||
Corporate Bonds — 31.84% | ||||||||||||||||
196 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | 3.75 | 11/30/26 | 193 | ||||||||||||
145 | AbbVie, Inc. (Biotechnology) | 4.40 | 11/6/42 | 128 | ||||||||||||
135 | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | 4.50 | 5/14/35 | 125 | ||||||||||||
25 | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | 4.15 | 8/15/44 | 24 | ||||||||||||
245 | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | 2.50 | 8/1/22 | 236 | ||||||||||||
100 | American Express Co. (Consumer Finance), Callable 1/27/23 @ 100.00 | 3.40 | 2/27/23 | 99 | ||||||||||||
395 | Ameriprise Financial, Inc. (Capital Markets) | 3.70 | 10/15/24 | 394 | ||||||||||||
30 | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | 2.65 | 5/11/22 | 29 | ||||||||||||
280 | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | 3.13 | 5/1/25 | 269 | ||||||||||||
10 | Amgen, Inc. (Biotechnology), Callable 5/15/41 @ 100.00 | 5.15 | 11/15/41 | 10 | ||||||||||||
20 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), | 3.50 | 12/5/26 | 19 |
See accompanying notes to financial statements.
127
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 350 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), Callable 9/15/25 @ 100.00 | 3.90 | 12/15/25 | $ | 344 | ||||||||||
410 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 11/1/25 @ 100.00 | 3.65 | 2/1/26 | 388 | ||||||||||||
140 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 8/1/35 @ 100.00 | 4.70 | 2/1/36 | 130 | ||||||||||||
140 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 8/1/45 @ 100.00 | 4.90 | 2/1/46 | 130 | ||||||||||||
40 | Anthem, Inc. (Health Care Providers & Services) | 3.30 | 1/15/23 | 39 | ||||||||||||
127 | Anthem, Inc. (Health Care Providers & Services), Callable 9/1/27 @ 100.00 | 3.65 | 12/1/27 | 121 | ||||||||||||
145 | Anthem, Inc. (Health Care Providers & Services), Callable 5/15/21 @ 100.00 | 3.70 | 8/15/21 | 146 | ||||||||||||
70 | Anthem, Inc. (Health Care Providers & Services) | 4.63 | 5/15/42 | 68 | ||||||||||||
90 | Archer-Daniels-Midland Co., Class C (Food Products) | 4.02 | 4/16/43 | 85 | ||||||||||||
340 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | 4.45 | 4/1/24 | 346 | ||||||||||||
195 | AT&T, Inc. (Diversified Telecommunication Services) | 5.35 | 9/1/40 | 190 | ||||||||||||
90 | AT&T, Inc. (Diversified Telecommunication Services) | 5.55 | 8/15/41 | 88 | ||||||||||||
40 | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | 4.13 | 10/15/44 | 39 | ||||||||||||
855 | Bank of America Corp., MTN (Banks) | 3.88 | 8/1/25 | 847 | ||||||||||||
135 | Bank One Corp. (Banks) | 8.00 | 4/29/27 | 166 | ||||||||||||
270 | Berkshire Hathaway, Inc. (Multi-Utilities), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 270 | ||||||||||||
50 | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | 3.00 | 9/25/22 | 48 | ||||||||||||
155 | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | 3.25 | 8/15/26 | 136 | ||||||||||||
130 | Capital One Financial Corp. (Consumer Finance), Callable 3/30/21 @ 100.00 | 3.45 | 4/30/21 | 130 | ||||||||||||
470 | Capital One Financial Corp. (Consumer Finance) | 3.50 | 6/15/23 | 462 | ||||||||||||
120 | Capital One Financial Corp. (Consumer Finance) | 4.75 | 7/15/21 | 123 | ||||||||||||
35 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 41 | ||||||||||||
50 | Citigroup, Inc. (Banks), Callable 11/8/21 @ 100.00 | 2.90 | 12/8/21 | 49 | ||||||||||||
655 | Citigroup, Inc. (Banks) | 3.40 | 5/1/26 | 616 | ||||||||||||
210 | Citigroup, Inc. (Banks) | 4.50 | 1/14/22 | 215 | ||||||||||||
245 | Comcast Corp. (Media) | 4.75 | 3/1/44 | 246 | ||||||||||||
170 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 6.50 | 2/1/39 | 211 | ||||||||||||
20 | Consolidated Edison Company of New York, Inc., Series2008-B (Multi-Utilities) | 6.75 | 4/1/38 | 26 | ||||||||||||
180 | Constellation Brands, Inc. (Beverages) | 4.75 | 11/15/24 | 186 | ||||||||||||
45 | Constellation Brands, Inc. (Beverages) | 4.75 | 12/1/25 | 46 | ||||||||||||
210 | CSX Corp. (Road & Rail) | 6.22 | 4/30/40 | 249 | ||||||||||||
240 | CVS Health Corp. (Health Care Providers & Services), Callable 9/1/22 @ 100.00 | 2.75 | 12/1/22 | 231 | ||||||||||||
535 | CVS Health Corp. (Health Care Providers & Services), Callable 12/25/27 @ 100.00 | 4.30 | 3/25/28 | 525 | ||||||||||||
100 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/22 @ 100.00 | 3.25 | 5/15/22 | 97 | ||||||||||||
188 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | 5.60 | 7/15/41 | 178 | ||||||||||||
225 | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | 2.75 | 2/1/23 | 214 | ||||||||||||
225 | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | 3.60 | 12/15/24 | 223 | ||||||||||||
35 | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | 4.25 | 12/15/41 | 35 | ||||||||||||
100 | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | 3.75 | 4/15/24 | 100 | ||||||||||||
25 | Duke Energy Progress LLC (Electric Utilities), Callable 2/15/45 @ 100.00 | 4.20 | 8/15/45 | 25 | ||||||||||||
140 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels), Callable 3/15/28 @ 100.00 | 4.95 | 6/15/28 | 137 | ||||||||||||
85 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 11/15/24 @ 100.00 | 3.75 | 2/15/25 | 84 | ||||||||||||
184 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | 4.85 | 3/15/44 | 179 | ||||||||||||
100 | FedEx Corp. (Air Freight & Logistics) | 4.90 | 1/15/34 | 102 | ||||||||||||
55 | Fiserv, Inc. (IT Services), Callable 7/1/22 @ 100.00 | 3.50 | 10/1/22 | 55 | ||||||||||||
190 | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | 3.85 | 6/1/25 | 188 | ||||||||||||
175 | General Motors Financial Co. (Consumer Finance), Callable 2/1/21 @ 100.00 | 4.20 | 3/1/21 | 175 | ||||||||||||
101 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 97 | ||||||||||||
50 | GlaxoSmithKline PLC (Diversified Financial Services) | 6.38 | 5/15/38 | 63 | ||||||||||||
305 | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | 3.50 | 1/23/25 | 289 | ||||||||||||
255 | Goldman Sachs Group, Inc. (Capital Markets) | 5.25 | 7/27/21 | 265 | ||||||||||||
50 | Goldman Sachs Group, Inc. (Capital Markets) | 5.75 | 1/24/22 | 52 |
See accompanying notes to financial statements.
128
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 145 | Home Depot, Inc. (The) (Specialty Retail), Callable 3/15/40 @ 100.00 | 5.40 | 9/15/40 | $ | 166 | ||||||||||
21 | International Paper Co. (Containers & Packaging), Callable 11/15/21 @ 100.00 | 4.75 | 2/15/22 | 22 | ||||||||||||
90 | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | 6.00 | 11/15/41 | 95 | ||||||||||||
45 | Interpublic Group of Companies, Inc. (Media) | 4.00 | 3/15/22 | 45 | ||||||||||||
250 | Interpublic Group of Companies, Inc. (Media) | 4.20 | 4/15/24 | 249 | ||||||||||||
400 | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | 3.13 | 1/23/25 | 381 | ||||||||||||
50 | JPMorgan Chase & Co. (Banks) | 3.63 | 5/13/24 | 50 | ||||||||||||
230 | JPMorgan Chase & Co. (Banks) | 4.50 | 1/24/22 | 237 | ||||||||||||
35 | Lincoln National Corp. (Insurance), Callable 9/15/26 @ 100.00 | 3.63 | 12/12/26 | 34 | ||||||||||||
60 | Lincoln National Corp. (Insurance) | 4.85 | 6/24/21 | 62 | ||||||||||||
95 | Lincoln National Corp. (Insurance) | 7.00 | 6/15/40 | 120 | ||||||||||||
135 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | 4.50 | 5/15/36 | 139 | ||||||||||||
85 | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | 4.88 | 3/15/44 | 77 | ||||||||||||
45 | Martin Marietta Materials, Inc. (Construction Materials), Callable 3/1/27 @ 100.00 | 3.45 | 6/1/27 | 42 | ||||||||||||
135 | Martin Marietta Materials, Inc. (Construction Materials), Callable 4/2/24 @ 100.00 | 4.25 | 7/2/24 | 136 | ||||||||||||
25 | Medtronic, Inc. (Health Care Equipment & Supplies), Callable 9/15/43 @ 100.00 | 4.63 | 3/15/44 | 26 | ||||||||||||
55 | Medtronic, Inc. (Health Care Equipment & Supplies) | 4.63 | 3/15/45 | 58 | ||||||||||||
70 | MetLife, Inc. (Insurance) | 5.70 | 6/15/35 | 79 | ||||||||||||
310 | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | 4.50 | 2/6/57 | 331 | ||||||||||||
110 | MidAmerican Energy Holdings Co. (Multi-Utilities) | 6.13 | 4/1/36 | 131 | ||||||||||||
305 | Morgan Stanley (Capital Markets) | 2.63 | 11/17/21 | 298 | ||||||||||||
355 | Morgan Stanley (Capital Markets) | 3.13 | 1/23/23 | 347 | ||||||||||||
255 | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services), | 2.95 | 2/7/24 | 251 | ||||||||||||
190 | Nucor Corp. (Metals & Mining), Callable 6/15/22 @ 100.00 | 4.13 | 9/15/22 | 195 | ||||||||||||
110 | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | 5.20 | 8/1/43 | 117 | ||||||||||||
195 | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | 3.20 | 9/16/26 | 185 | ||||||||||||
253 | Oracle Corp. (Software) | 5.38 | 7/15/40 | 280 | ||||||||||||
100 | Pfizer, Inc. (Pharmaceuticals), Callable 3/15/38 @ 100.00 | 4.10 | 9/15/38 | 100 | ||||||||||||
75 | Philip Morris International, Inc. (Tobacco) | 3.25 | 11/10/24 | 72 | ||||||||||||
95 | Philip Morris International, Inc. (Tobacco) | 4.50 | 3/20/42 | 91 | ||||||||||||
56 | Procter & Gamble Co. (The) (Household Products) | 9.36 | 1/1/21 | 59 | ||||||||||||
170 | Progress Energy, Inc. (Electric Utilities) | 6.00 | 12/1/39 | 200 | ||||||||||||
45 | Prudential Financial, Inc., MTN (Insurance), Callable 12/27/27 @ 100.00 | 3.88 | 3/27/28 | 45 | ||||||||||||
15 | Prudential Financial, Inc. (Insurance) | 6.63 | 6/21/40 | 18 | ||||||||||||
30 | Public Service Electric & Gas Co. (Electric Utilities), Callable 3/1/42 @ 100.00 | 3.65 | 9/1/42 | 28 | ||||||||||||
125 | RELX Capital, Inc. (Professional Services), Callable 7/15/22 @ 100.00 | 3.13 | 10/15/22 | 123 | ||||||||||||
170 | RELX Capital, Inc. (Professional Services), Callable 2/16/23 @ 100.00 | 3.50 | 3/16/23 | 168 | ||||||||||||
155 | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | 3.50 | 3/15/27 | 146 | ||||||||||||
35 | Roper Industries, Inc. (Industrial Conglomerates), Callable 8/15/22 @ 100.00 | 3.13 | 11/15/22 | 34 | ||||||||||||
190 | Roper Technologies, Inc. (Industrial Conglomerates), Callable 9/15/25 @ 100.00 | 3.85 | 12/15/25 | 187 | ||||||||||||
215 | Ryder System, Inc., MTN (Road & Rail), Callable 8/1/21 @ 100.00 | 2.25 | 9/1/21 | 208 | ||||||||||||
115 | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | 2.80 | 3/1/22 | 112 | ||||||||||||
50 | Ryder System, Inc. (Road & Rail), Callable 10/15/21 @ 100.00 | 3.45 | 11/15/21 | 50 | ||||||||||||
15 | Sherwin-Williams Co. (The) (Chemicals), Callable 5/1/25 @ 100.00 | 3.45 | 8/1/25 | 14 | ||||||||||||
150 | Southern Company Gas Capital Corp. (Electric Utilities), Callable 8/1/23 @ 100.00 | 2.45 | 10/1/23 | 143 | ||||||||||||
60 | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | 3.00 | 11/15/26 | 56 | ||||||||||||
171 | Southwest Airlines Co., Series2017-1 (Airlines) | 6.15 | 2/1/24 | 180 | ||||||||||||
255 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/22 @ 100.00 | 3.45 | 1/15/23 | 247 | ||||||||||||
135 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/42 @ 100.00 | 4.95 | 1/15/43 | 113 | ||||||||||||
190 | SunTrust Banks, Inc. (Banks), Callable 12/27/21 @ 100.00 | 2.70 | 1/27/22 | 185 | ||||||||||||
45 | The Home Depot, Inc. (Specialty Retail) | 5.88 | 12/16/36 | 54 | ||||||||||||
215 | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | 3.13 | 6/1/24 | 206 | ||||||||||||
170 | The Travelers Companies, Inc. (Insurance) | 6.25 | 6/15/37 | 211 | ||||||||||||
115 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 2/15/23 @ 100.00 | 3.00 | 4/15/23 | 112 |
See accompanying notes to financial statements.
129
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 140 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 11/1/23 @ 100.00 | 4.15 | 2/1/24 | $ | 142 | ||||||||||
40 | Twenty-First Century Fox, Inc. (Media), Callable 3/15/44 @ 100.00 | 4.75 | 9/15/44 | 43 | ||||||||||||
170 | Twenty-First Century Fox, Inc. (Media) | 6.20 | 12/15/34 | 207 | ||||||||||||
95 | Union Pacific Corp. (Road & Rail), Callable 6/10/28 @ 100.00 | 3.95 | 9/10/28 | 95 | ||||||||||||
5 | United Parcel Service, Inc. (Air Freight & Logistics) | 6.20 | 1/15/38 | 6 | ||||||||||||
50 | United Technologies Corp. (Aerospace & Defense) | 4.50 | 6/1/42 | 47 | ||||||||||||
75 | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 5/15/41 @ 100.00 | 4.63 | 11/15/41 | 78 | ||||||||||||
85 | UnitedHealth Group, Inc. (Health Care Providers & Services) | 4.75 | 7/15/45 | 90 | ||||||||||||
110 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 6/15/37 | 121 | ||||||||||||
40 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | 3.25 | 8/15/22 | 40 | ||||||||||||
175 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | 3.50 | 2/1/25 | 168 | ||||||||||||
150 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.01 | 8/21/54 | 145 | ||||||||||||
470 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.15 | 9/15/23 | 501 | ||||||||||||
80 | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | 4.65 | 8/15/43 | 83 | ||||||||||||
50 | Walmart, Inc. (Food & Staples Retailing) | 5.63 | 4/1/40 | 60 | ||||||||||||
140 | Wells Fargo & Co., MTN (Banks) | 2.63 | 7/22/22 | 135 | ||||||||||||
355 | Wells Fargo & Co. (Banks) | 3.00 | 2/19/25 | 335 | ||||||||||||
150 | Wells Fargo & Co., MTN (Banks) | 3.30 | 9/9/24 | 145 | ||||||||||||
120 | Wells Fargo & Co., MTN (Banks) | 4.60 | 4/1/21 | 123 | ||||||||||||
250 | WestRock Co. (Containers & Packaging) | 4.90 | 3/1/22 | 257 | ||||||||||||
55 | Westvaco Corp. (Containers & Packaging) | 8.20 | 1/15/30 | 70 | ||||||||||||
100 | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.75 | 8/1/37 | 133 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 21,360 | |||||||||||||||
|
| |||||||||||||||
U.S. Treasury Obligations — 32.86% | ||||||||||||||||
122 | U.S. Treasury Bond | 2.25 | 8/15/46 | 104 | ||||||||||||
170 | U.S. Treasury Bond | 2.50 | 2/15/46 | 154 | ||||||||||||
60 | U.S. Treasury Bond | 2.50 | 2/15/45 | 54 | ||||||||||||
125 | U.S. Treasury Bond | 2.50 | 5/15/46 | 113 | ||||||||||||
79 | U.S. Treasury Bond | 2.75 | 11/15/42 | 76 | ||||||||||||
160 | U.S. Treasury Bond | 2.75 | 11/15/47 | 152 | ||||||||||||
58 | U.S. Treasury Bond | 2.75 | 8/15/42 | 56 | ||||||||||||
25 | U.S. Treasury Bond | 2.75 | 8/15/47 | 24 | ||||||||||||
120 | U.S. Treasury Bond | 2.88 | 5/15/43 | 117 | ||||||||||||
115 | U.S. Treasury Bond | 2.88 | 11/15/46 | 112 | ||||||||||||
110 | U.S. Treasury Bond | 2.88 | 8/15/45 | 107 | ||||||||||||
75 | U.S. Treasury Bond | 3.00 | 11/15/45 | 75 | ||||||||||||
125 | U.S. Treasury Bond | 3.00 | 8/15/48 | 125 | ||||||||||||
50 | U.S. Treasury Bond | 3.00 | 2/15/48 | 50 | ||||||||||||
100 | U.S. Treasury Bond | 3.00 | 5/15/47 | 100 | ||||||||||||
160 | U.S. Treasury Bond | 3.00 | 2/15/47 | 160 | ||||||||||||
44 | U.S. Treasury Bond | 3.00 | 5/15/42 | 44 | ||||||||||||
120 | U.S. Treasury Bond | 3.00 | 11/15/44 | 120 | ||||||||||||
160 | U.S. Treasury Bond | 3.00 | 5/15/45 | 160 | ||||||||||||
115 | U.S. Treasury Bond | 3.13 | 8/15/44 | 118 | ||||||||||||
180 | U.S. Treasury Bond | 3.13 | 5/15/48 | 184 | ||||||||||||
90 | U.S. Treasury Bond | 3.13 | 2/15/43 | 92 | ||||||||||||
67 | U.S. Treasury Bond | 3.13 | 2/15/42 | 69 | ||||||||||||
15 | U.S. Treasury Bond | 3.13 | 11/15/41 | 15 | ||||||||||||
130 | U.S. Treasury Bond | 3.38 | 5/15/44 | 139 | ||||||||||||
50 | U.S. Treasury Bond | 3.38 | 11/15/48 | 54 | ||||||||||||
20 | U.S. Treasury Bond | 3.50 | 2/15/39 | 22 | ||||||||||||
120 | U.S. Treasury Bond | 3.63 | 2/15/44 | 133 | ||||||||||||
75 | U.S. Treasury Bond | 3.63 | 8/15/43 | 83 | ||||||||||||
53 | U.S. Treasury Bond | 3.75 | 8/15/41 | 60 |
See accompanying notes to financial statements.
130
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 120 | U.S. Treasury Bond | 3.75 | 11/15/43 | $ | 136 | ||||||||||
50 | U.S. Treasury Bond | 3.88 | 8/15/40 | 58 | ||||||||||||
40 | U.S. Treasury Bond | 4.25 | 11/15/40 | 48 | ||||||||||||
35 | U.S. Treasury Bond | 4.38 | 5/15/41 | 43 | ||||||||||||
50 | U.S. Treasury Bond | 4.38 | 2/15/38 | 61 | ||||||||||||
60 | U.S. Treasury Bond | 4.38 | 5/15/40 | 74 | ||||||||||||
35 | U.S. Treasury Bond | 4.38 | 11/15/39 | 43 | ||||||||||||
10 | U.S. Treasury Bond | 4.50 | 2/15/36 | 12 | ||||||||||||
25 | U.S. Treasury Bond | 4.50 | 8/15/39 | 31 | ||||||||||||
70 | U.S. Treasury Bond | 4.63 | 2/15/40 | 89 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/41 | 91 | ||||||||||||
40 | U.S. Treasury Bond | 5.00 | 5/15/37 | 53 | ||||||||||||
60 | U.S. Treasury Bond | 5.25 | 2/15/29 | 73 | ||||||||||||
30 | U.S. Treasury Bond | 5.25 | 11/15/28 | 37 | ||||||||||||
55 | U.S. Treasury Bond | 5.38 | 2/15/31 | 70 | ||||||||||||
25 | U.S. Treasury Bond | 6.00 | 2/15/26 | 31 | ||||||||||||
25 | U.S. Treasury Bond | 6.13 | 8/15/29 | 33 | ||||||||||||
35 | U.S. Treasury Bond | 6.13 | 11/15/27 | 44 | ||||||||||||
35 | U.S. Treasury Bond | 6.25 | 5/15/30 | 47 | ||||||||||||
50 | U.S. Treasury Bond | 6.38 | 8/15/27 | 64 | ||||||||||||
15 | U.S. Treasury Bond | 6.50 | 11/15/26 | 19 | ||||||||||||
17 | U.S. Treasury Bond | 7.50 | 11/15/24 | 22 | ||||||||||||
15 | U.S. Treasury Bond | 7.63 | 2/15/25 | 19 | ||||||||||||
40 | U.S. Treasury Bond | 8.00 | 11/15/21 | 46 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 8/31/21 | 97 | ||||||||||||
100 | U.S. Treasury Note | 1.13 | 6/30/21 | 97 | ||||||||||||
150 | U.S. Treasury Note | 1.13 | 7/31/21 | 145 | ||||||||||||
80 | U.S. Treasury Note | 1.13 | 9/30/21 | 77 | ||||||||||||
65 | U.S. Treasury Note | 1.13 | 4/30/20 | 64 | ||||||||||||
70 | U.S. Treasury Note | 1.13 | 3/31/20 | 69 | ||||||||||||
100 | U.S. Treasury Note | 1.25 | 3/31/21 | 97 | ||||||||||||
55 | U.S. Treasury Note | 1.25 | 2/29/20 | 54 | ||||||||||||
105 | U.S. Treasury Note | 1.25 | 1/31/20 | 103 | ||||||||||||
155 | U.S. Treasury Note | 1.38 | 10/31/20 | 152 | ||||||||||||
75 | U.S. Treasury Note | 1.38 | 1/15/20 | 74 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 2/15/20 | 49 | ||||||||||||
20 | U.S. Treasury Note | 1.38 | 9/15/20 | 20 | ||||||||||||
155 | U.S. Treasury Note | 1.38 | 9/30/20 | 152 | ||||||||||||
110 | U.S. Treasury Note | 1.38 | 4/30/20 | 108 | ||||||||||||
80 | U.S. Treasury Note | 1.38 | 1/31/21 | 78 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 8/31/20 | 49 | ||||||||||||
70 | U.S. Treasury Note | 1.38 | 1/31/20 | 69 | ||||||||||||
115 | U.S. Treasury Note | 1.38 | 3/31/20 | 113 | ||||||||||||
125 | U.S. Treasury Note | 1.38 | 8/31/23 | 119 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 4/30/21 | 98 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 9/30/23 | 47 | ||||||||||||
120 | U.S. Treasury Note | 1.38 | 2/29/20 | 118 | ||||||||||||
50 | U.S. Treasury Note | 1.38 | 5/31/20 | 49 | ||||||||||||
100 | U.S. Treasury Note | 1.38 | 5/31/21 | 97 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 3/31/23 | 96 | ||||||||||||
110 | U.S. Treasury Note | 1.50 | 6/15/20 | 108 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 4/15/20 | 99 | ||||||||||||
105 | U.S. Treasury Note | 1.50 | 5/31/20 | 103 | ||||||||||||
105 | U.S. Treasury Note | 1.50 | 2/28/23 | 101 |
See accompanying notes to financial statements.
131
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 50 | U.S. Treasury Note | 1.50 | 8/15/20 | $ | 49 | ||||||||||
100 | U.S. Treasury Note | 1.50 | 5/15/20 | 99 | ||||||||||||
100 | U.S. Treasury Note | 1.50 | 7/15/20 | 98 | ||||||||||||
80 | U.S. Treasury Note | 1.50 | 1/31/22 | 78 | ||||||||||||
185 | U.S. Treasury Note | 1.50 | 8/15/26 | 171 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 10/31/23 | 96 | ||||||||||||
135 | U.S. Treasury Note | 1.63 | 8/31/22 | 131 | ||||||||||||
110 | U.S. Treasury Note | 1.63 | 7/31/20 | 108 | ||||||||||||
185 | U.S. Treasury Note | 1.63 | 5/15/26 | 173 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 6/30/20 | 99 | ||||||||||||
102 | U.S. Treasury Note | 1.63 | 11/15/22 | 99 | ||||||||||||
80 | U.S. Treasury Note | 1.63 | 5/31/23 | 77 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 3/15/20 | 99 | ||||||||||||
100 | U.S. Treasury Note | 1.63 | 4/30/23 | 96 | ||||||||||||
155 | U.S. Treasury Note | 1.63 | 11/30/20 | 152 | ||||||||||||
120 | U.S. Treasury Note | 1.63 | 2/15/26 | 112 | ||||||||||||
65 | U.S. Treasury Note | 1.63 | 8/15/22 | 63 | ||||||||||||
35 | U.S. Treasury Note | 1.63 | 10/15/20 | 34 | ||||||||||||
115 | U.S. Treasury Note | 1.75 | 4/30/22 | 112 | ||||||||||||
164 | U.S. Treasury Note | 1.75 | 5/15/23 | 159 | ||||||||||||
85 | U.S. Treasury Note | 1.75 | 2/28/22 | 83 | ||||||||||||
130 | U.S. Treasury Note | 1.75 | 11/30/21 | 127 | ||||||||||||
110 | U.S. Treasury Note | 1.75 | 9/30/22 | 107 | ||||||||||||
90 | U.S. Treasury Note | 1.75 | 5/15/22 | 88 | ||||||||||||
60 | U.S. Treasury Note | 1.75 | 12/31/20 | 59 | ||||||||||||
95 | U.S. Treasury Note | 1.75 | 10/31/20 | 94 | ||||||||||||
80 | U.S. Treasury Note | 1.75 | 1/31/23 | 78 | ||||||||||||
85 | U.S. Treasury Note | 1.75 | 3/31/22 | 83 | ||||||||||||
125 | U.S. Treasury Note | 1.88 | 10/31/22 | 122 | ||||||||||||
85 | U.S. Treasury Note | 1.88 | 8/31/22 | 83 | ||||||||||||
110 | U.S. Treasury Note | 1.88 | 11/30/21 | 108 | ||||||||||||
100 | U.S. Treasury Note | 1.88 | 8/31/24 | 97 | ||||||||||||
150 | U.S. Treasury Note | 1.88 | 2/28/22 | 147 | ||||||||||||
100 | U.S. Treasury Note | 1.88 | 3/31/22 | 98 | ||||||||||||
90 | U.S. Treasury Note | 1.88 | 9/30/22 | 88 | ||||||||||||
125 | U.S. Treasury Note | 1.88 | 4/30/22 | 123 | ||||||||||||
105 | U.S. Treasury Note | 1.88 | 1/31/22 | 103 | ||||||||||||
65 | U.S. Treasury Note | 1.88 | 7/31/22 | 64 | ||||||||||||
85 | U.S. Treasury Note | 1.88 | 5/31/22 | 83 | ||||||||||||
195 | U.S. Treasury Note | 2.00 | 2/15/25 | 189 | ||||||||||||
60 | U.S. Treasury Note | 2.00 | 10/31/21 | 59 | ||||||||||||
65 | U.S. Treasury Note | 2.00 | 9/30/20 | 64 | ||||||||||||
195 | U.S. Treasury Note | 2.00 | 8/15/25 | 188 | ||||||||||||
80 | U.S. Treasury Note | 2.00 | 1/31/20 | 79 | ||||||||||||
70 | U.S. Treasury Note | 2.00 | 4/30/24 | 68 | ||||||||||||
50 | U.S. Treasury Note | 2.00 | 7/31/20 | 50 | ||||||||||||
145 | U.S. Treasury Note | 2.00 | 11/15/21 | 143 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 2/15/22 | 99 | ||||||||||||
185 | U.S. Treasury Note | 2.00 | 11/15/26 | 177 | ||||||||||||
80 | U.S. Treasury Note | 2.00 | 8/31/21 | 79 | ||||||||||||
110 | U.S. Treasury Note | 2.00 | 12/31/21 | 108 | ||||||||||||
170 | U.S. Treasury Note | 2.00 | 2/15/23 | 167 | ||||||||||||
150 | U.S. Treasury Note | 2.00 | 11/30/22 | 147 | ||||||||||||
10 | U.S. Treasury Note | 2.00 | 1/15/21 | 10 |
See accompanying notes to financial statements.
132
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 100 | U.S. Treasury Note | 2.00 | 2/28/21 | $ | 99 | ||||||||||
95 | U.S. Treasury Note | 2.00 | 7/31/22 | 93 | ||||||||||||
90 | U.S. Treasury Note | 2.00 | 6/30/24 | 88 | ||||||||||||
25 | U.S. Treasury Note | 2.00 | 11/30/20 | 25 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 5/31/21 | 99 | ||||||||||||
100 | U.S. Treasury Note | 2.00 | 10/31/22 | 98 | ||||||||||||
65 | U.S. Treasury Note | 2.13 | 9/30/21 | 64 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 9/30/24 | 112 | ||||||||||||
30 | U.S. Treasury Note | 2.13 | 1/31/21 | 30 | ||||||||||||
45 | U.S. Treasury Note | 2.13 | 7/31/24 | 44 | ||||||||||||
115 | U.S. Treasury Note | 2.13 | 11/30/24 | 112 | ||||||||||||
120 | U.S. Treasury Note | 2.13 | 8/15/21 | 119 | ||||||||||||
105 | U.S. Treasury Note | 2.13 | 12/31/21 | 104 | ||||||||||||
80 | U.S. Treasury Note | 2.13 | 8/31/20 | 79 | ||||||||||||
105 | U.S. Treasury Note | 2.13 | 2/29/24 | 103 | ||||||||||||
90 | U.S. Treasury Note | 2.13 | 6/30/22 | 89 | ||||||||||||
195 | U.S. Treasury Note | 2.13 | 5/15/25 | 190 | ||||||||||||
70 | U.S. Treasury Note | 2.13 | 6/30/21 | 69 | ||||||||||||
85 | U.S. Treasury Note | 2.13 | 3/31/24 | 83 | ||||||||||||
210 | U.S. Treasury Note | 2.13 | 12/31/22 | 207 | ||||||||||||
90 | U.S. Treasury Note | 2.13 | 11/30/23 | 88 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 12/31/23 | 79 | ||||||||||||
175 | U.S. Treasury Note | 2.25 | 11/15/27 | 169 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 12/31/24 | 79 | ||||||||||||
195 | U.S. Treasury Note | 2.25 | 11/15/25 | 191 | ||||||||||||
185 | U.S. Treasury Note | 2.25 | 8/15/27 | 179 | ||||||||||||
140 | U.S. Treasury Note | 2.25 | 7/31/21 | 139 | ||||||||||||
115 | U.S. Treasury Note | 2.25 | 10/31/24 | 113 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 1/31/24 | 79 | ||||||||||||
10 | U.S. Treasury Note | 2.25 | 3/31/20 | 10 | ||||||||||||
225 | U.S. Treasury Note | 2.25 | 2/15/27 | 220 | ||||||||||||
150 | U.S. Treasury Note | 2.25 | 11/15/24 | 147 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 4/30/21 | 80 | ||||||||||||
80 | U.S. Treasury Note | 2.25 | 3/31/21 | 80 | ||||||||||||
90 | U.S. Treasury Note | 2.25 | 2/29/20 | 90 | ||||||||||||
85 | U.S. Treasury Note | 2.25 | 2/15/21 | 85 | ||||||||||||
110 | U.S. Treasury Note | 2.38 | 1/31/23 | 109 | ||||||||||||
10 | U.S. Treasury Note | 2.38 | 3/15/21 | 10 | ||||||||||||
70 | U.S. Treasury Note | 2.38 | 12/31/20 | 70 | ||||||||||||
100 | U.S. Treasury Note | 2.38 | 8/15/24 | 99 | ||||||||||||
90 | U.S. Treasury Note | 2.38 | 4/15/21 | 90 | ||||||||||||
175 | U.S. Treasury Note | 2.38 | 5/15/27 | 171 | ||||||||||||
170 | U.S. Treasury Note | 2.38 | 4/30/20 | 170 | ||||||||||||
50 | U.S. Treasury Note | 2.50 | 3/31/23 | 50 | ||||||||||||
90 | U.S. Treasury Note | 2.50 | 1/31/25 | 90 | ||||||||||||
127 | U.S. Treasury Note | 2.50 | 8/15/23 | 127 | ||||||||||||
155 | U.S. Treasury Note | 2.50 | 5/15/24 | 155 | ||||||||||||
110 | U.S. Treasury Note | 2.50 | 12/31/20 | 110 | ||||||||||||
100 | U.S. Treasury Note | 2.50 | 5/31/20 | 100 | ||||||||||||
100 | U.S. Treasury Note | 2.50 | 6/30/20 | 100 | ||||||||||||
100 | U.S. Treasury Note | 2.63 | 12/31/23 | 101 | ||||||||||||
90 | U.S. Treasury Note | 2.63 | 12/31/25 | 90 | ||||||||||||
100 | U.S. Treasury Note | 2.63 | 8/31/20 | 100 | ||||||||||||
105 | U.S. Treasury Note | 2.63 | 12/15/21 | 105 |
See accompanying notes to financial statements.
133
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 105 | U.S. Treasury Note | 2.63 | 6/30/23 | $ | 106 | ||||||||||
95 | U.S. Treasury Note | 2.63 | 6/15/21 | 95 | ||||||||||||
200 | U.S. Treasury Note | 2.63 | 11/15/20 | 200 | ||||||||||||
95 | U.S. Treasury Note | 2.63 | 5/15/21 | 95 | ||||||||||||
100 | U.S. Treasury Note | 2.63 | 3/31/25 | 100 | ||||||||||||
110 | U.S. Treasury Note | 2.63 | 2/28/23 | 111 | ||||||||||||
130 | U.S. Treasury Note | 2.63 | 7/15/21 | 130 | ||||||||||||
90 | U.S. Treasury Note | 2.63 | 7/31/20 | 90 | ||||||||||||
95 | U.S. Treasury Note | 2.75 | 8/15/21 | 96 | ||||||||||||
90 | U.S. Treasury Note | 2.75 | 7/31/23 | 91 | ||||||||||||
110 | U.S. Treasury Note | 2.75 | 11/30/20 | 110 | ||||||||||||
105 | U.S. Treasury Note | 2.75 | 9/30/20 | 105 | ||||||||||||
100 | U.S. Treasury Note | 2.75 | 9/15/21 | 101 | ||||||||||||
85 | U.S. Treasury Note | 2.75 | 8/31/25 | 86 | ||||||||||||
100 | U.S. Treasury Note | 2.75 | 2/15/24 | 101 | ||||||||||||
90 | U.S. Treasury Note | 2.75 | 6/30/25 | 91 | ||||||||||||
105 | U.S. Treasury Note | 2.75 | 8/31/23 | 106 | ||||||||||||
95 | U.S. Treasury Note | 2.75 | 5/31/23 | 96 | ||||||||||||
80 | U.S. Treasury Note | 2.75 | 2/15/28 | 80 | ||||||||||||
90 | U.S. Treasury Note | 2.75 | 2/28/25 | 91 | ||||||||||||
45 | U.S. Treasury Note | 2.75 | 4/30/23 | 45 | ||||||||||||
170 | U.S. Treasury Note | 2.75 | 11/15/23 | 172 | ||||||||||||
125 | U.S. Treasury Note | 2.88 | 8/15/28 | 127 | ||||||||||||
90 | U.S. Treasury Note | 2.88 | 5/31/25 | 92 | ||||||||||||
240 | U.S. Treasury Note | 2.88 | 5/15/28 | 245 | ||||||||||||
110 | U.S. Treasury Note | 2.88 | 11/30/23 | 112 | ||||||||||||
90 | U.S. Treasury Note | 2.88 | 11/30/25 | 92 | ||||||||||||
100 | U.S. Treasury Note | 2.88 | 11/15/21 | 101 | ||||||||||||
50 | U.S. Treasury Note | 2.88 | 10/31/23 | 51 | ||||||||||||
75 | U.S. Treasury Note | 2.88 | 7/31/25 | 76 | ||||||||||||
100 | U.S. Treasury Note | 2.88 | 10/15/21 | 101 | ||||||||||||
105 | U.S. Treasury Note | 2.88 | 9/30/23 | 107 | ||||||||||||
90 | U.S. Treasury Note | 2.88 | 4/30/25 | 92 | ||||||||||||
80 | U.S. Treasury Note | 2.88 | 10/31/20 | 80 | ||||||||||||
85 | U.S. Treasury Note | 3.00 | 9/30/25 | 87 | ||||||||||||
75 | U.S. Treasury Note | 3.13 | 11/15/28 | 78 | ||||||||||||
50 | U.S. Treasury Note | 3.13 | 5/15/21 | 51 | ||||||||||||
85 | U.S. Treasury Note | 3.13 | 10/31/25 | 87 | ||||||||||||
100 | U.S. Treasury Note | 3.50 | 5/15/20 | 101 | ||||||||||||
100 | U.S. Treasury Note | 3.63 | 2/15/21 | 102 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 22,047 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 5.57% | ||||||||||||||||
100 | America Movil SAB de CV (Wireless Telecommunication Services) | 5.00 | 3/30/20 | 102 | ||||||||||||
85 | America Movil SAB de CV (Wireless Telecommunication Services) | 6.13 | 11/15/37 | 99 | ||||||||||||
100 | Aptiv PLC (Auto Components), Callable 10/15/25 @ 100.00 | 4.25 | 1/15/26 | 97 | ||||||||||||
25 | Bank of Nova Scotia (Banks) | 1.85 | 4/14/20 | 25 | ||||||||||||
45 | BHP Billiton Ltd. (Metals & Mining) | 5.00 | 9/30/43 | 49 | ||||||||||||
185 | BP Capital Markets PLC (Diversified Financial Services) | 3.54 | 11/4/24 | 183 | ||||||||||||
114 | British Telecommunications PLC (Diversified Telecommunication Services) | 9.63 | 12/15/30 | 154 | ||||||||||||
155 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 12/15/22 @ 100.00 | 2.95 | 1/15/23 | 148 | ||||||||||||
120 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 8/15/21 @ 100.00 | 3.45 | 11/15/21 | 119 | ||||||||||||
50 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 3/1/27 @ 100.00 | 3.85 | 6/1/27 | 47 | ||||||||||||
270 | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | 4.45 | 3/15/23 | 281 | ||||||||||||
105 | Deutsche Telekom International Finance BV (Diversified Telecommunication Services) | 8.75 | (b) | 6/15/30 | 137 |
See accompanying notes to financial statements.
134
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$ | 210 | HSBC Holdings PLC (Banks) | 4.00 | 3/30/22 | $ | 213 | ||||||||||
200 | HSBC Holdings PLC (Banks) | 5.10 | 4/5/21 | 207 | ||||||||||||
120 | HSBC Holdings PLC (Banks) | 6.80 | 6/1/38 | 142 | ||||||||||||
140 | Iberdrola International BV (Electric Utilities) | 5.81 | 3/15/25 | 155 | ||||||||||||
145 | Iberdrola International BV (Electric Utilities) | 6.75 | 7/15/36 | 173 | ||||||||||||
40 | LYB International Finance II BV (Chemicals), Callable 12/2/26 @ 100.00 | 3.50 | 3/2/27 | 36 | ||||||||||||
25 | LyondellBasell Industries N.V. (Chemicals) | 4.00 | 7/15/23 | 25 | ||||||||||||
35 | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | 4.63 | 2/26/55 | 30 | ||||||||||||
105 | Orange SA (Diversified Telecommunication Services) | 9.00 | 3/1/31 | 146 | ||||||||||||
25 | Royal Bank of Canada (Banks) | 2.20 | 9/23/19 | 25 | ||||||||||||
90 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 4.13 | 5/11/35 | 90 | ||||||||||||
170 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 6.38 | 12/15/38 | 216 | ||||||||||||
105 | Statoil ASA (Oil, Gas & Consumable Fuels) | 5.10 | 8/17/40 | 117 | ||||||||||||
55 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 5.13 | 4/27/20 | 56 | ||||||||||||
35 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 5.46 | 2/16/21 | 36 | ||||||||||||
75 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 7.05 | 6/20/36 | 86 | ||||||||||||
240 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels), Callable 2/15/28 @ 100.00 | 4.25 | 5/15/28 | 237 | ||||||||||||
140 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 155 | ||||||||||||
20 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.20 | 10/15/37 | 22 | ||||||||||||
35 | Vodafone Group PLC (Wireless Telecommunication Services) | 5.00 | 5/30/38 | 33 | ||||||||||||
90 | Vodafone Group PLC (Wireless Telecommunication Services) | 6.15 | 2/27/37 | 94 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 3,735 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Companies — 6.91% | ||||||||||||||||
410,427 | SSgA U.S. Government Money Market Fund, Premier Class | 2.25 | (c) | 410 | ||||||||||||
4,220,864 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (c) | 4,221 | ||||||||||||
|
| |||||||||||||||
Total Investment Companies | 4,631 | |||||||||||||||
|
| |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $69,281) — 101.78% | 68,260 | |||||||||||||||
Principal Amount (000) | ||||||||||||||||
TBA Sale Commitments (d) — (0.13)% | ||||||||||||||||
$ | (75 | ) | Freddie Mac, Gold 30 YR TBA | 5.50 | 1/15/49 | (79 | ) | |||||||||
|
| |||||||||||||||
Total TBA Sale Commitments | (79 | ) | ||||||||||||||
|
| |||||||||||||||
Liabilities in excess of other assets — (1.65)% | (1,104 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 67,077 | ||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate presented is the rate in effect at December 31, 2018. |
(b) | Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate shown is the rate in effect at December 31, 2018. |
(c) | The rate disclosed is the rate in effect on December 31, 2018. |
(d) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Financial Statements.) |
MTN—Medium Term Note
TBA—To Be Announced purchase or sale commitment. Security is subject to delayed delivery
See accompanying notes to financial statements.
135
Table of Contents
HC CAPITAL TRUST
The Core Fixed Income Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Core Fixed Income Portfolio | Agincourt Capital Management, LLC | Mellon Investments Corporation* | HC Capital Solutions | Total | ||||||||||||
Asset Backed Securities | — | 0.46 | % | — | 0.46 | % | ||||||||||
Collateralized Mortgage Obligations | — | 1.43 | % | — | 1.43 | % | ||||||||||
U.S. Government Agency Mortgages | — | 21.51 | % | — | 21.51 | % | ||||||||||
U.S. Government Agency Securities | — | 1.20 | % | — | 1.20 | % | ||||||||||
Corporate Bonds | 31.84 | % | — | — | 31.84 | % | ||||||||||
U.S. Treasury Obligations | — | 32.86 | % | — | 32.86 | % | ||||||||||
Yankee Dollars | 5.49 | % | 0.08 | % | — | 5.57 | % | |||||||||
Investment Companies | 0.61 | % | 2.99 | % | 3.31 | % | 6.91 | % | ||||||||
TBA Sale Commitments | — | -0.13 | % | — | -0.13 | % | ||||||||||
Other Assets (Liabilities) | 0.36 | % | -2.60 | % | 0.59 | % | -1.65 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 38.30 | % | 57.80 | % | 3.90 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
136
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Asset Backed Securities — 0.59% | ||||||||||||||||
$ | 2,124 | Mill City Mortgage Trust, Series2017-3, Class B2, Callable 4/25/38 @ 100.00 (a) | 3.25 | (b) | 1/25/61 | $ | 1,644 | |||||||||
1,537 | Mill City Mortgage Trust, Series2017-1, Class B2, Callable 6/25/35 @ 100.00 (a) | 3.74 | (b) | 11/25/58 | 1,299 | |||||||||||
721 | Mill City Mortgage Trust, Series2016-1, Class B2, Callable 12/25/28 @ 100.00 (a) | 3.92 | (b) | 4/25/57 | 658 | |||||||||||
|
| |||||||||||||||
Total Asset Backed Securities | 3,601 | |||||||||||||||
|
| |||||||||||||||
Collateralized Mortgage Obligations — 17.65% | ||||||||||||||||
2,070 | BAMLL Commercial Mortgage Securities Trust, Series2014-FL1, Class E (a) | | 4.13 (US0001M + 550.00 bps) | (c) | 12/15/31 | 1,998 | ||||||||||
5,687 | BAMLL, Series 2016-GG10, Class AJA (a) | 5.78 | (b) | 8/10/45 | 4,141 | |||||||||||
3,000 | BX Trust, Series2017-IMC, Class G (a) | | 7.96 (US0001M + 550.00 bps) | (c) | 10/15/32 | 3,000 | ||||||||||
1,409 | Connecticut Avenue Securities, Series2016-C03, Class 1B, Callable 4/25/26 @ 100.00 (a) | | 14.26 (US0001M + 1175.00 bps) | (c) | 10/25/28 | 2,006 | ||||||||||
6,322 | Connecticut Avenue Securities, Series2016-C02, Class 1B, Callable 3/25/26 @ 100.00 (a) | | 14.76 (US0001M + 1225.00 bps) | (c) | 9/25/28 | 9,199 | ||||||||||
1,492 | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class B1, Callable 2/25/44 @ 100.00 (a) | 3.10 | (b) | 7/25/57 | 1,068 | |||||||||||
1,712 | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class B2, Callable 2/25/44 @ 100.00 (a) | 3.10 | (b) | 7/25/57 | 976 | |||||||||||
1,455 | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class B3, Callable 2/25/44 @ 100.00 (a) | 3.10 | (b) | 7/25/57 | 652 | |||||||||||
1,675 | Credit Suisse Mortgage Trust, Series 2017-RPL1, Class B4, Callable 2/25/44 @ 100.00 (a) | 3.10 | (b) | 7/25/57 | 228 | |||||||||||
1,609 | Credit Suisse Mortgage Trust, Series2007-C5, Class AM | 5.87 | 9/15/40 | 1,556 | ||||||||||||
5,000 | Credit Suisse Mortgage Trust, Series 2018-PLUM, Class B (a) | | 7.46 (US0001M + 500.00 bps) | (c) | 8/15/20 | 4,984 | ||||||||||
3,913 | Credit Suisse Mortgage Trust, Series 2015-LHMZ, Class MZ (a) | 7.54 | (b) | 7/6/20 | 3,911 | |||||||||||
1,500 | Credit Suisse Mortgage Trust, Series 2017-CHOP, Class H (a) | | 10.08 (US0001M + 762.00 bps) | (c) | 7/15/32 | 1,473 | ||||||||||
2,100 | DBUBS Mortgage Trust, Series 2011-LC3A, Class G (a) | 3.75 | 8/10/44 | 1,326 | ||||||||||||
4,742 | FRESB Mortgage Trust, Series 2018-SB48, Class B, Callable 1/1/28 @ 100.00 (a) | | 3.68 (LIBOR06M + 367.72 bps) | (c) | 2/25/38 | 3,659 | ||||||||||
2,260 | GE Commercial Mortgage Corp. Trust, Series2007-C1, Class AJ | 5.68 | (b) | 12/10/49 | 565 | |||||||||||
4,850 | GS Mortgage Securities Corp. II, Series 2018-SRP5, Class D (a) | | 8.46 (US0001M + 600.00 bps) | (c) | 9/15/31 | 4,801 | ||||||||||
1,500 | Helios Issuer LLC, Series2018-1A, Class B, Callable 1/20/29 @ 100.00 (a) | 7.71 | 7/20/48 | 1,500 | ||||||||||||
6,070 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2007-LDPX, Class AJ, Callable 2/11/22 @ 100.00 | 5.50 | (b) | 1/15/49 | 1,245 | |||||||||||
2,669 | JPMorgan Chase Commercial Mortgage Securities Corp., Series 2007-CB19, Class AJ | 5.82 | (b) | 2/12/49 | 1,963 | |||||||||||
2,000 | JPMorgan Chase Commercial Mortgage Securities Trust,Series 2018-PHMZ, Class M (a) | | 10.66 (US0001M + 820.77 bps) | (c) | 6/15/35 | 1,985 | ||||||||||
853 | Lone Star Portfolio Trust, Series2015-LSP, Class E (a) | | 8.31 (US0001M + 560.00 bps) | (c) | 9/15/28 | 858 | ||||||||||
4,010 | Lone Star Portfolio Trust, Series2015-LSP, Class F (a) | | 9.61 (US0001M + 690.00 bps) | (c) | 9/15/28 | 4,020 | ||||||||||
1,158 | Motel 6 Trust, Series 2017-MTL6, Class F (a) | | 6.71 (US0001M + 425.00 bps) | (c) | 8/15/34 | 1,158 | ||||||||||
2,146 | Multifamily Trust, Series2016-1, Class B (a) | | 10.44 (US0003M + 113.00 bps) | (c) | 4/25/46 | 2,259 | ||||||||||
147,284 | Seasoned Credit Risk Transfer, Series2016-1, Class XSIO, Callable 3/25/50 @ 100.00 (a) | 0.07 | (b) | 9/25/55 | 509 | |||||||||||
19,248 | Seasoned Credit Risk Transfer, Series2016-1, Class BIO, Callable 3/25/50 @ 100.00 (a) | 1.09 | (b) | 9/25/55 | 2,042 | |||||||||||
8,118 | Seasoned Credit Risk Transfer, Series2016-1, Class B, Callable 3/25/50 @ 100.00 (a) | 6.57 | 9/25/55 | 731 | ||||||||||||
1,000 | Starwood Retail Property Trust, Series 2014-STAR, Class D (a) | | 5.71 (US0001M + 325.00 bps) | (c) | 11/15/27 | 850 |
See accompanying notes to financial statements.
137
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$ | 14,940 | Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class B, Callable 10/25/25 @ 100.00 | | 11.86 (US0001M + 935.00 bps) | (c) | 4/25/28 | $ | 18,615 | ||||||||
4,481 | Structured Agency Credit Risk Debt Notes, Series 2016-DNA1, Class B, Callable 1/25/26 @ 100.00 | | 12.51 (US0001M + 1000.00 bps) | (c) | 7/25/28 | 5,735 | ||||||||||
2,597 | Tharaldson Hotel Portfolio Trust, Series2018-THL, Class G (a) | | 8.73 (US0001M + 635.00 bps) | (c) | 11/11/34 | 2,552 | ||||||||||
1,731 | Tharaldson Hotel Portfolio Trust, Series2018-THL, Class H (a) | | 12.18 (US0001M + 980.00 bps) | (c) | 11/11/34 | 1,703 | ||||||||||
4,726 | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class G (a) | 4.89 | (b) | 5/10/63 | 3,465 | |||||||||||
8,192 | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class H (a) | 4.89 | (b) | 5/10/63 | 4,550 | |||||||||||
4,943 | Upgrade Pass-Through Trust, Series2018-7, Class A (a) | 14.78 | 1/15/25 | 4,967 | ||||||||||||
1,884 | Wachovia Bank Commercial Mortgage Trust, Series2007-C33, Class AJ | 5.77 | (b) | 2/15/51 | 1,861 | |||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 108,111 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Mortgages — 4.34% | ||||||||||||||||
1,140 | Fannie Mae, Series2017-C05, Class 1B1, Callable 7/25/27 @ 100.00 (a) | | 6.11 (US0001M + 360.00 bps) | (c) | 1/25/30 | 1,132 | ||||||||||
5,550 | Fannie Mae, Series2017-C07, Class 1B1, Callable 11/25/27 @ 100.00 (a) | | 6.51 (US0001M + 400.00 bps) | (c) | 5/25/30 | 5,565 | ||||||||||
3,190 | Fannie Mae, Series2018-R07, Class 1B1, Callable 10/25/28 @ 100.00 (a) | | 6.86 (US0001M + 435.00 bps) | (c) | 4/25/31 | 3,120 | ||||||||||
530 | Fannie Mae, Series2017-C03, Class 1B1, Callable 4/25/27 @ 100.00 (a) | | 7.36 (US0001M + 485.00 bps) | (c) | 10/25/29 | 572 | ||||||||||
1,499 | Fannie Mae, Series2016-C06, Class 1B, Callable 10/25/26 @ 100.00 (a) | | 11.76 (US0001M + 925.00 bps) | (c) | 4/25/29 | 1,884 | ||||||||||
3,498 | Fannie Mae, Series2016-C04, Class 1B, Callable 7/25/26 @ 100.00 (a) | | 12.76 (US0001M + 1025.00 bps) | (c) | 1/25/29 | 4,641 | ||||||||||
339 | Fannie Mae, Series2016-C01, Class 1B, Callable 2/25/26 @ 100.00 (a) | | 14.26 (US0001M + 1175.00 bps) | (c) | 8/25/28 | 483 | ||||||||||
5,956 | Freddie Mac, Series2017-2, Class B, Callable 2/25/51 @ 100.00 (a) | 0.00 | (b) | 8/25/56 | 592 | |||||||||||
258,296 | Freddie Mac, Series2017-2, Class XSIO, Callable 2/25/51 @ 100.00 (a) | 0.07 | (b) | 8/25/56 | 1,130 | |||||||||||
8,961 | Freddie Mac, Series2017-2, Class BIO, Callable 2/25/51 @ 100.00 (a) | 1.26 | (b) | 8/25/56 | 987 | |||||||||||
2,650 | Freddie Mac, Series 2018-SPI4, Class B, Callable 11/25/33 @ 100.00 (a) | 4.46 | (b) | 11/25/48 | 1,278 | |||||||||||
529 | Freddie Mac, Series 2017-DNA1, Class B2, Callable 1/25/27 @ 100.00 | | 12.51 (US0001M + 1000.00 bps) | (c) | 7/25/29 | 562 | ||||||||||
1,090 | Freddie Mac Structured Agency Credit Risk Debt Notes,Series 2017-DNA2, Class B1, Callable 4/25/27 @ 100.00 | | 7.66 (US0001M + 515.00 bps) | (c) | 10/25/29 | 1,221 | ||||||||||
3,065 | Freddie Mac Structured Agency Credit Risk Debt Notes,Series 2017-DNA2, Class B2, Callable 4/25/27 @ 100.00 | | 13.76 (US0001M + 1125.00 bps) | (c) | 10/25/29 | 3,420 | ||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 26,587 | |||||||||||||||
|
| |||||||||||||||
Corporate Bonds — 52.97% | ||||||||||||||||
1,175 | Acadia Healthcare Co., Inc. (Health Care Providers & Services), Callable 2/7/19 @ 102.56 | 5.13 | 7/1/22 | 1,122 | ||||||||||||
946 | Acadia Healthcare Co., Inc. (Health Care Providers & Services), Callable 3/1/19 @ 104.88 | 6.50 | 3/1/24 | 913 | ||||||||||||
1,762 | ACCO Brands Corp. (Commercial Services & Supplies), Callable 12/15/19 @ 103.94 (a) | 5.25 | 12/15/24 | 1,577 | ||||||||||||
906 | Ahern Rentals, Inc. (Trading Companies & Distributors), Callable 2/7/19 @ 105.53 (a) | 7.38 | 5/15/23 | 725 | ||||||||||||
2,335 | Albertsons Companies LLC (Food & Staples Retailing), Callable 9/15/19 @ 104.31 | 5.75 | 3/15/25 | 2,043 | ||||||||||||
111 | Ally Financial, Inc. (Consumer Finance), Callable 10/21/25 @ 100.00 | 5.75 | 11/20/25 | 110 | ||||||||||||
2,029 | Ally Financial, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 2,247 | ||||||||||||
509 | AMC Networks, Inc. (Media), Callable 8/1/21 @ 102.38 | 4.75 | 8/1/25 | 462 | ||||||||||||
860 | AMC Networks, Inc. (Media), Callable 4/1/20 @ 102.50 | 5.00 | 4/1/24 | 815 | ||||||||||||
1,522 | American Builders & Contractors Supply Co., Inc. (Trading Companies & Distributors), Callable 5/15/21 @ 102.94 (a) | 5.88 | 5/15/26 | 1,449 | ||||||||||||
1,787 | Amsted Industries, Inc. (Machinery), Callable 9/15/19 @ 102.69 (a) | 5.38 | 9/15/24 | 1,684 |
See accompanying notes to financial statements.
138
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 267 | Anixter International, Inc. (Electronic Equipment, Instruments & Components) | 5.13 | 10/1/21 | $ | 266 | ||||||||||
2,096 | Antero Resources Finance (Oil, Gas & Consumable Fuels), Callable 2/7/19 @ 101.34 | 5.38 | 11/1/21 | 2,023 | ||||||||||||
547 | Aramark Services, Inc. (Commercial Services & Supplies), Callable 2/1/23 @ 102.50 | 5.00 | 2/1/28 | 510 | ||||||||||||
3,265 | Ascent Resources Utica Holdings LLC/ARU Finance Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/21 @ 103.50 (a) | 7.00 | 11/1/26 | 2,954 | ||||||||||||
1,156 | Avis Budget Car Rental LLC (Road & Rail), Callable 2/7/19 @ 102.75^ | 5.50 | 4/1/23 | 1,116 | ||||||||||||
2,696 | Avon Products, Inc. (Personal Products) | 6.60 | 3/15/20 | 2,682 | ||||||||||||
1,100 | B&G Foods, Inc. (Food Products), Callable 4/1/20 @ 103.94 | 5.25 | 4/1/25 | 1,023 | ||||||||||||
733 | Ball Corp. (Containers & Packaging), Callable 12/15/25 @ 100.00 | 4.88 | 3/15/26 | 713 | ||||||||||||
1,951 | Bank of America Corp. (Banks), Callable 3/17/25 @ 100.00, Perpetual Bond (d) | | 6.10 (US0003M + 389.80 bps) | (c) | 12/29/49 | 1,922 | ||||||||||
1,177 | Beacon Escrow Corp. (Trading Companies & Distributors), Callable 11/1/20 @ 102.44 (a) | 4.88 | 11/1/25 | 1,034 | ||||||||||||
1,682 | Belo Corp. (Media) | 7.25 | 9/15/27 | 1,732 | ||||||||||||
578 | Block Communications, Inc. (Media), Callable 2/15/20 @ 103.44 (a) | 6.88 | 2/15/25 | 579 | ||||||||||||
1,615 | Blue Racer Midstream LLC/Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels), Callable 2/7/19 @ 103.06 (a) | 6.13 | 11/15/22 | 1,558 | ||||||||||||
2,639 | Blue Racer Midstream LLC/Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels), Callable 7/15/21 @ 104.97 (a) | 6.63 | 7/15/26 | 2,454 | ||||||||||||
833 | Booz Allen Hamilton, Inc. (IT Services), Callable 5/1/20 @ 102.56 (a) | 5.13 | 5/1/25 | 791 | ||||||||||||
1,126 | Brinker International, Inc. (Hotels, Restaurants & Leisure) | 3.88 | 5/15/23 | 1,042 | ||||||||||||
1,110 | Brinker International, Inc. (Hotels, Restaurants & Leisure), Callable 7/1/24 @ 100.00 (a) | 5.00 | 10/1/24 | 1,043 | ||||||||||||
2,148 | Building Materials Corp. of America (Building Products), Callable 11/15/19 @ 102.69 (a) | 5.38 | 11/15/24 | 2,017 | ||||||||||||
1,268 | Building Materials Corp. of America (Building Products), Callable 10/15/20 @ 103.00 (a) | 6.00 | 10/15/25 | 1,216 | ||||||||||||
856 | BWX Technologies, Inc. (Aerospace & Defense), Callable 7/15/21 @ 102.69 (a) | 5.38 | 7/15/26 | 824 | ||||||||||||
1,772 | Cablevision Systems Corp. (Media) | 5.88 | 9/15/22 | 1,741 | ||||||||||||
3,161 | Care Capital Properties WI (Equity Real Estate Investment Trusts), Callable 5/15/26 @ 100.00 | 5.13 | 8/15/26 | 2,932 | ||||||||||||
1,837 | Carriage Services, Inc. (Diversified Consumer Services), Callable 6/1/21 @ 104.97 (a) | 6.63 | 6/1/26 | 1,800 | ||||||||||||
1,281 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 5/1/22 @ 102.56 (a) | 5.13 | 5/1/27 | 1,193 | ||||||||||||
970 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/7/19 @ 103.84 (a) | 5.13 | 5/1/23 | 943 | ||||||||||||
459 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/7/19 @ 102.56 | 5.13 | 2/15/23 | 448 | ||||||||||||
1,935 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 5/1/20 @ 102.68 (a) | 5.38 | 5/1/25 | 1,855 | ||||||||||||
1,010 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/15/21 @ 102.88 | 5.75 | 2/15/26 | 990 | ||||||||||||
777 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 2/7/19 @ 102.88 | 5.75 | 1/15/24 | 773 | ||||||||||||
298 | CCO Holdings LLC/CCO Holdings Capital Corp. (Media), Callable 4/1/19 @ 104.41 | 5.88 | 4/1/24 | 297 | ||||||||||||
1,238 | CDK Global, Inc. (Software), Callable 6/1/22 @ 102.44 | 4.88 | 6/1/27 | 1,148 | ||||||||||||
292 | CDW LLC/CDW Finance (Electronic Equipment, Instruments & Components), Callable 2/7/19 @ 103.75 | 5.00 | 9/1/23 | 287 | ||||||||||||
1,405 | CDW LLC/CDW Finance (Electronic Equipment, Instruments & Components), Callable 6/1/24 @ 100.00 | 5.50 | 12/1/24 | 1,388 | ||||||||||||
531 | Cedar Fair LP/Canada’s Wonderland Co. (Hotels, Restaurants & Leisure), Callable 6/1/19 @ 102.69 | 5.38 | 6/1/24 | 519 | ||||||||||||
1,064 | Central Garden & Pet Co. (Household Products), Callable 1/1/23 @ 102.56 | 5.13 | 2/1/28 | 952 | ||||||||||||
1,119 | CenturyLink, Inc. (Diversified Telecommunication Services), Callable 1/1/25 @ 100.00 | 5.63 | 4/1/25 | 985 | ||||||||||||
2,693 | CenturyLink, Inc., Series T (Diversified Telecommunication Services) | 5.80 | 3/15/22 | 2,592 | ||||||||||||
1,079 | CenturyLink, Inc., Series G (Diversified Telecommunication Services) | 6.88 | 1/15/28 | 950 | ||||||||||||
1,299 | Cheniere Corp. Christi HD (Oil, Gas & Consumable Fuels), Callable 10/2/24 @ 100.00 | 5.88 | 3/31/25 | 1,293 | ||||||||||||
1,797 | Cheniere Corp. Christi HD (Oil, Gas & Consumable Fuels), Callable 1/1/24 @ 100.00 | 7.00 | 6/30/24 | 1,896 |
See accompanying notes to financial statements.
139
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,233 | CHS/Community Health Systems, Inc. (Health Care Providers & Services), Callable 3/31/20 @ 103.13 | 6.25 | 3/31/23 | $ | 1,121 | ||||||||||
2,355 | Churchill Downs, Inc. (Hotels, Restaurants & Leisure), Callable 1/15/23 @ 102.38 (a) | 4.75 | 1/15/28 | 2,131 | ||||||||||||
752 | Clearway Energy Operating LLC (Independent Power and Renewable Electricity Producers), Callable 10/15/21 @ 102.88 (a) | 5.75 | 10/15/25 | 718 | ||||||||||||
896 | Commercial Metals Co. (Metals & Mining), Callable 2/15/23 @ 100.00 | 4.88 | 5/15/23 | 847 | ||||||||||||
2,170 | Commercial Metals Co. (Metals & Mining), Callable 4/15/21 @ 102.88 (a) | 5.75 | 4/15/26 | 2,013 | ||||||||||||
1,268 | CommScope Technologies LLC (Communications Equipment), Callable 3/15/22 @ 102.50 | 5.00 | 3/15/27 | 1,027 | ||||||||||||
1,483 | CommScope, Inc. (Communications Equipment), Callable 6/15/19 @ 102.75 (a) | 5.50 | 6/15/24 | 1,357 | ||||||||||||
1,564 | CoreCivic, Inc. (Equity Real Estate Investment Trusts), Callable 7/15/27 @ 100.00 | 4.75 | 10/15/27 | 1,294 | ||||||||||||
1,523 | Corrections Corp. of America (Equity Real Estate Investment Trusts), Callable 7/15/22 @ 100.00 | 5.00 | 10/15/22 | 1,458 | ||||||||||||
1,605 | Credit Acceptance Corp. (Consumer Finance), Callable 2/7/19 @ 105.53 | 7.38 | 3/15/23 | 1,637 | ||||||||||||
1,398 | Crown Americas LLC/Crown Americas Capital Corp. VI (Containers & Packaging), Callable 2/1/21 @ 103.56 (a) | 4.75 | 2/1/26 | 1,326 | ||||||||||||
4,049 | CSC Holdings LLC (Media) | 5.25 | 6/1/24 | 3,710 | ||||||||||||
968 | CSC Holdings LLC (Media), Callable 1/18/19 @ 104.03 | 5.38 | 7/15/23 | 945 | ||||||||||||
1,141 | CSC Holdings LLC (Media), Callable 5/15/21 @ 102.75 | 5.50 | 5/15/26 | 1,075 | ||||||||||||
854 | Cumberland Farms, Inc. (Food & Staples Retailing), Callable 5/1/20 @ 105.06 (a) | 6.75 | 5/1/25 | 863 | ||||||||||||
1,603 | CVR Partners/CVR Nitrogen (Chemicals), Callable 6/15/19 @ 104.63 (a) | 9.25 | 6/15/23 | 1,666 | ||||||||||||
727 | CyrusOne LP/CyrusOne Finance Corp. (Equity Real Estate Investment Trusts), Callable 3/15/22 @ 102.69 | 5.38 | 3/15/27 | 705 | ||||||||||||
1,703 | DaVita, Inc. (Health Care Providers & Services), Callable 7/15/19 @ 102.56 | 5.13 | 7/15/24 | 1,597 | ||||||||||||
1,338 | Delek Logistics Partners LP/Delek Logistics Finance Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/20 @ 105.06 | 6.75 | 5/15/25 | 1,298 | ||||||||||||
2,465 | Diamond 1 Finance/Diamond 2 (Technology Hardware, Storage & Peripherals), Callable 6/15/19 @ 105.34 (a) | 7.13 | 6/15/24 | 2,509 | ||||||||||||
2,629 | Diebold Nixdorf, Inc. (Technology Hardware, Storage & Peripherals), Callable 4/15/19 @ 106.38^ | 8.50 | 4/15/24 | 1,577 | ||||||||||||
4,755 | DISH DBS Corp. (Media) | 5.88 | 7/15/22 | 4,375 | ||||||||||||
4,785 | DISH DBS Corp. (Media) | 6.75 | 6/1/21 | 4,736 | ||||||||||||
887 | Downstream Development Authority of the Quapaw Tribe of Oklahoma (Capital Markets), Callable 2/15/20 @ 105.25 (a) | 10.50 | 2/15/23 | 874 | ||||||||||||
549 | Dynegy, Inc. (Independent Power and Renewable Electricity Producers), Callable 2/7/19 @ 102.94 | 5.88 | 6/1/23 | 549 | ||||||||||||
1,419 | EMC Corp. (Technology Hardware, Storage & Peripherals), Callable 3/1/23 @ 100.00 | 3.38 | 6/1/23 | 1,231 | ||||||||||||
318 | Endeavor Energy Resources LP/EER Finance, Inc. (Oil, Gas & Consumable Fuels), Callable 1/30/23 @ 102.88 (a) | 5.75 | 1/30/28 | 324 | ||||||||||||
242 | Energizer Gamma Acquisition, Inc. (Household Products), Callable 7/15/21 @ 103.19 (a) | 6.38 | 7/15/26 | 222 | ||||||||||||
371 | Energizer Holdings, Inc. (Household Products), Callable 6/15/20 @ 102.75 (a) | 5.50 | 6/15/25 | 335 | ||||||||||||
1,190 | Energy Transfer Equity (Oil, Gas & Consumable Fuels), Callable 3/1/27 @ 100.00 | 5.50 | 6/1/27 | 1,160 | ||||||||||||
601 | Equinix, Inc. (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 102.69 | 5.38 | 5/15/27 | 587 | ||||||||||||
1,162 | ESH Hospitality, Inc. (Hotels, Restaurants & Leisure), Callable 5/1/20 @ 102.63 (a) | 5.25 | 5/1/25 | 1,081 | ||||||||||||
362 | Exterran Energy Solutions LP/EES Finance Corp. (Energy Equipment & Services), Callable 5/1/20 @ 106.09 | 8.13 | 5/1/25 | 348 | ||||||||||||
1,077 | Extraction Oil & Gas, Inc. (Oil, Gas & Consumable Fuels), Callable 2/1/21 @ 104.22 | 5.63 | 2/1/26 | 786 | ||||||||||||
1,842 | First Data Corp. (IT Services), Callable 1/18/19 @ 102.50 (a) | 5.00 | 1/15/24 | 1,773 | ||||||||||||
351 | First Data Corp. (IT Services), Callable 1/18/19 @ 102.69 (a) | 5.38 | 8/15/23 | 345 | ||||||||||||
1,575 | First Quality Finance Co., Inc. (Personal Products), Callable 7/1/20 @ 103.75 (a) | 5.00 | 7/1/25 | 1,410 | ||||||||||||
2,068 | Freeport-McMoRan, Inc. (Metals & Mining), Callable 12/15/22 @ 100.00 | 3.88 | 3/15/23 | 1,913 | ||||||||||||
987 | Freeport-McMoRan, Inc. (Metals & Mining), Callable 2/15/20 @ 103.44 | 6.88 | 2/15/23 | 1,018 | ||||||||||||
800 | Frontier Communications Corp. (Diversified Telecommunication Services), Callable 4/1/21 @ 106.38 (a) | 8.50 | 4/1/26 | 700 | ||||||||||||
1,696 | Frontier Communications Corp. (Diversified Telecommunication Services)^ | 8.50 | 4/15/20 | 1,501 | ||||||||||||
1,065 | Frontier Communications Corp. (Diversified Telecommunication Services), Callable 6/15/22 @ 100.00^ | 10.50 | 9/15/22 | 740 | ||||||||||||
2,360 | FTS International, Inc. (Energy Equipment & Services), Callable 2/7/19 @ 103.13 | 6.25 | 5/1/22 | 2,089 |
See accompanying notes to financial statements.
140
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 163 | GCI, Inc. (Media), Callable 2/7/19 @ 101.13 | 6.75 | 6/1/21 | $ | 164 | ||||||||||
371 | Genesis Energy LP (Electric Utilities), Callable 2/7/19 @ 104.50 | 6.00 | 5/15/23 | 343 | ||||||||||||
2,714 | Genesis Energy LP (Electric Utilities), Callable 2/7/19 @ 103.38 | 6.75 | 8/1/22 | 2,646 | ||||||||||||
1,399 | Genesis Energy LP/Genesis Energy Finance Corp. (Electric Utilities), Callable 2/15/21 @ 104.69 | 6.25 | 5/15/26 | 1,200 | ||||||||||||
325 | GLP Capital LP (Equity Real Estate Investment Trusts), Callable 3/1/25 @ 100.00 | 5.25 | 6/1/25 | 323 | ||||||||||||
1,240 | GLP Capital LP (Equity Real Estate Investment Trusts) | 5.38 | 4/15/26 | 1,226 | ||||||||||||
527 | GMAC, Inc. (Consumer Finance) | 8.00 | 11/1/31 | 585 | ||||||||||||
2,392 | Goldman Sachs Group, Inc., Series P (Capital Markets), Callable 11/10/22 @ 100.00, Perpetual Bond (d) | | 5.00 (US0003M + 287.40 bps) | (c) | 12/31/49 | 2,016 | ||||||||||
1,165 | Goodyear Tire & Rubber Co. (The) (Auto Components), Callable 2/7/19 @ 102.56^ | 5.13 | 11/15/23 | 1,142 | ||||||||||||
2,336 | Group 1 Automotive, Inc. (Specialty Retail), Callable 2/7/19 @ 103.94 (a) | 5.25 | 12/15/23 | 2,167 | ||||||||||||
3,253 | Gulfport Energy Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/20 @ 104.78 | 6.38 | 5/15/25 | 2,878 | ||||||||||||
936 | H&E Equipment Services, Inc. (Trading Companies & Distributors), Callable 9/1/20 @ 104.22 | 5.63 | 9/1/25 | 859 | ||||||||||||
1,204 | Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods), Callable 2/15/24 @ 100.00 (a) | 4.63 | 5/15/24 | 1,129 | ||||||||||||
737 | Harland Clarke Holdings Corp. (Commercial Services & Supplies), Callable 2/7/19 @ 101.72 (a) | 6.88 | 3/1/20 | 719 | ||||||||||||
4,659 | HCA Holdings, Inc. (Health Care Providers & Services), Callable 8/15/25 @ 100.00 | 5.88 | 2/15/26 | 4,635 | ||||||||||||
1,768 | HCA, Inc. (Health Care Providers & Services) | 5.38 | 2/1/25 | 1,724 | ||||||||||||
746 | HCA, Inc. (Health Care Providers & Services), Callable 3/1/26 @ 100.00 | 5.38 | 9/1/26 | 725 | ||||||||||||
301 | HCA, Inc. (Health Care Providers & Services) | 5.88 | 5/1/23 | 305 | ||||||||||||
1,107 | HD Supply, Inc. (Trading Companies & Distributors), Callable 10/15/21 @ 102.69 (a) | 5.38 | 10/15/26 | 1,072 | ||||||||||||
2,013 | HealthSouth Corp. (Health Care Providers & Services), Callable 2/7/19 @ 101.92 | 5.75 | 11/1/24 | 1,993 | ||||||||||||
2,225 | Hertz Corp. (Road & Rail), Callable 2/7/19 @ 100.00 | 5.88 | 10/15/20 | 2,157 | ||||||||||||
1,016 | Hertz Corp. (Road & Rail), Callable 6/1/19 @ 103.81 | 7.63 | 6/1/22 | 958 | ||||||||||||
940 | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 6/1/19 @ 102.50 (a) | 5.00 | 12/1/24 | 832 | ||||||||||||
849 | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/1/20 @ 102.88 (a) | 5.75 | 10/1/25 | 756 | ||||||||||||
1,244 | Hilcorp Energy Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/23 @ 103.13 (a) | 6.25 | 11/1/28 | 1,095 | ||||||||||||
1,348 | Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure), Callable 5/1/21 @ 102.56 (a) | 5.13 | 5/1/26 | 1,294 | ||||||||||||
2,122 | HLF Financing SaRL LLC/Herbalife International, Inc. (Personal Products), Callable 8/15/21 @ 103.63 (a) | 7.25 | 8/15/26 | 2,090 | ||||||||||||
2,179 | Ingles Markets, Inc. (Food & Staples Retailing), Callable 2/7/19 @ 102.88 | 5.75 | 6/15/23 | 2,152 | ||||||||||||
1,793 | Iron Mountain, Inc. (Equity Real Estate Investment Trusts), Callable 1/18/19 @ 101.92 | 5.75 | 8/15/24 | 1,703 | ||||||||||||
402 | J2 Cloud Services LLC/J2 GlobalCo-Obligor, Inc. (Software), Callable 7/15/20 @ 104.50 (a) | 6.00 | 7/15/25 | 393 | ||||||||||||
1,400 | JB Poindexter & Co., Inc. (Machinery), Callable 4/15/21 @ 105.34 (a) | 7.13 | 4/15/26 | 1,309 | ||||||||||||
593 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), Callable 7/15/19 @ 102.94 (a) | 5.88 | 7/15/24 | 581 | ||||||||||||
393 | JBS USA LLC/JBS USA Finance, Inc. (Food Products) | 7.25 | 6/1/21 | 395 | ||||||||||||
184 | JBS USA LLC/JBS USA Finance, Inc. (Food Products), Callable 2/7/19 @ 101.21 (a) | 7.25 | 6/1/21 | 185 | ||||||||||||
211 | Kaiser Aluminum Corp. (Metals & Mining), Callable 5/15/19 @ 104.41 | 5.88 | 5/15/24 | 206 | ||||||||||||
1,266 | KFC HLD/Pizza Hut/Taco (Hotels, Restaurants & Leisure), Callable 6/1/19 @ 103.75 (a) | 5.00 | 6/1/24 | 1,222 | ||||||||||||
872 | Lennar Corp. (Household Durables), Callable 10/15/21 @ 100.00 | 4.13 | 1/15/22 | 837 | ||||||||||||
948 | Lennar Corp. (Household Durables), Callable 5/29/27 @ 100.00 | 4.75 | 11/29/27 | 856 | ||||||||||||
47 | Lennar Corp. (Household Durables), Callable 2/28/25 @ 100.00 | 4.75 | 5/30/25 | 44 | ||||||||||||
400 | Lennar Corp. (Household Durables), Callable 9/15/23 @ 100.00 | 4.88 | 12/15/23 | 384 | ||||||||||||
1,223 | Lennar Corp. (Household Durables) | 5.38 | 10/1/22 | 1,220 | ||||||||||||
960 | Level 3 Financing, Inc. (Diversified Financial Services), Callable 2/7/19 @ 101.41 | 5.63 | 2/1/23 | 943 | ||||||||||||
597 | Live Nation Entertainment, Inc. (Entertainment), Callable 11/1/19 @ 103.66 (a) | 4.88 | 11/1/24 | 567 | ||||||||||||
445 | Live Nation Entertainment, Inc. (Entertainment), Callable 3/15/21 @ 104.22 (a) | 5.63 | 3/15/26 | 435 | ||||||||||||
2,102 | Lockheed Martin Corp. (Aerospace & Defense) (a) | | 9.67 (US0001M + 721.75 bps) | (c) | 9/15/20 | 2,095 | ||||||||||
1,175 | Louisiana-Pacific Corp. (Paper & Forest Products), Callable 9/15/19 @ 103.66 | 4.88 | 9/15/24 | 1,134 |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 826 | LSC Communications, Inc. (Commercial Services & Supplies), Callable 10/15/19 @ 106.56 (a) | 8.75 | 10/15/23 | $ | 849 | ||||||||||
706 | M/I Homes, Inc. (Household Durables), Callable 1/23/19 @ 101.69 | 6.75 | 1/15/21 | 702 | ||||||||||||
1,107 | Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp. (Oil, Gas & Consumable Fuels), Callable 8/1/21 @ 103.00 (a) | 6.00 | 8/1/26 | 1,068 | ||||||||||||
394 | Match Group, Inc. (Interactive Media & Services), Callable 12/15/22 @ 102.50 (a) | 5.00 | 12/15/27 | 361 | ||||||||||||
2,224 | Mattel, Inc. (Leisure Products), Callable 12/31/20 @ 105.06 (a) | 6.75 | 12/31/25 | 1,984 | ||||||||||||
2,263 | Mednax, Inc. (Health Care Providers & Services), Callable 2/7/19 @ 103.94 (a) | 5.25 | 12/1/23 | 2,217 | ||||||||||||
856 | Mednax, Inc. (Health Care Providers & Services), Callable 1/15/22 @ 104.69 (a) | 6.25 | 1/15/27 | 826 | ||||||||||||
1,521 | Meritage Homes Corp. (Household Durables), Callable 3/1/25 @ 100.00 | 6.00 | 6/1/25 | 1,434 | ||||||||||||
1,933 | MetLife, Inc., Series C (Insurance), Callable 6/15/20 @ 100.00, Perpetual Bond (d) | | 5.25 (US0003M + 357.50 bps) | (c) | 12/31/49 | 1,856 | ||||||||||
1,483 | MGIC Investment Corp. (Thrifts & Mortgage Finance) | 5.75 | 8/15/23 | 1,476 | ||||||||||||
2,185 | MGM Growth/MGM Finance (Equity Real Estate Investment Trusts), Callable 2/1/24 @ 100.00 | 5.63 | 5/1/24 | 2,164 | ||||||||||||
2,825 | MGM Resorts International (Hotels, Restaurants & Leisure) | 6.00 | 3/15/23 | 2,838 | ||||||||||||
1,142 | MPT Operating Partnership LP/MPT Finance Corp. (Equity Real Estate Investment Trusts), Callable 8/1/21 @ 102.63 | 5.25 | 8/1/26 | 1,076 | ||||||||||||
465 | MPT Operating Partnership LP/MPT Finance Corp. (Equity Real Estate Investment Trusts), Callable 5/1/19 @ 102.75 | 5.50 | 5/1/24 | 463 | ||||||||||||
1,850 | Multi-Color Corp. (Commercial Services & Supplies), Callable 11/1/20 @ 102.44 (a) | 4.88 | 11/1/25 | 1,582 | ||||||||||||
1,300 | Multi-Color Corp. (Commercial Services & Supplies), Callable 2/7/19 @ 103.06 (a) | 6.13 | 12/1/22 | 1,290 | ||||||||||||
2,249 | Murphy Oil USA, Inc. (Specialty Retail), Callable 5/1/22 @ 102.81 | 5.63 | 5/1/27 | 2,159 | ||||||||||||
2,529 | Navient Corp. (Consumer Finance) | 5.88 | 10/25/24 | 2,112 | ||||||||||||
548 | Navient Corp. (Consumer Finance) | 6.50 | 6/15/22 | 511 | ||||||||||||
278 | NCR Corp. (Technology Hardware, Storage & Peripherals), Callable 2/7/19 @ 101.16 | 4.63 | 2/15/21 | 271 | ||||||||||||
1,279 | NCR Corp. (Technology Hardware, Storage & Peripherals), Callable 2/7/19 @ 101.47 | 5.88 | 12/15/21 | 1,247 | ||||||||||||
1,377 | Netflix, Inc. (Entertainment) | 4.88 | 4/15/28 | 1,257 | ||||||||||||
88 | Netflix, Inc. (Entertainment) | 5.75 | 3/1/24 | 89 | ||||||||||||
322 | Netflix, Inc. (Entertainment) | 5.88 | 2/15/25 | 325 | ||||||||||||
1,631 | New Enterprise Stone & Lime Co., Inc. (Construction Materials), Callable 3/15/21 @ 103.13 (a) | 6.25 | 3/15/26 | 1,484 | ||||||||||||
966 | New Home Co., Inc. (The) (Household Durables), Callable 10/1/19 @ 103.63 | 7.25 | 4/1/22 | 877 | ||||||||||||
237 | Nexstar Escrow Corp. (Media), Callable 8/1/19 @ 104.22 (a) | 5.63 | 8/1/24 | 222 | ||||||||||||
1,110 | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 3/1/20 @ 104.59 | 6.13 | 3/1/25 | 955 | ||||||||||||
960 | NGL Energy Partners LP/NGL Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 11/1/19 @ 103.75 | 7.50 | 11/1/23 | 922 | ||||||||||||
1,509 | NGPL PipeCo LLC (Oil, Gas & Consumable Fuels) (a) | 7.77 | 12/15/37 | 1,720 | ||||||||||||
1,755 | Novelis Corp. (Metals & Mining), Callable 9/30/21 @ 102.94 (a) | 5.88 | 9/30/26 | 1,553 | ||||||||||||
431 | Novelis Corp. (Metals & Mining), Callable 8/15/19 @ 104.69 (a) | 6.25 | 8/15/24 | 405 | ||||||||||||
436 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 1/15/23 @ 102.88 | 5.75 | 1/15/28 | 419 | ||||||||||||
3,254 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 7/15/21 @ 103.31 | 6.63 | 1/15/27 | 3,278 | ||||||||||||
932 | NRG Energy, Inc. (Independent Power and Renewable Electricity Producers), Callable 5/15/21 @ 103.63 | 7.25 | 5/15/26 | 970 | ||||||||||||
803 | Olin Corp. (Chemicals), Callable 2/1/24 @ 102.50 | 5.00 | 2/1/30 | 704 | ||||||||||||
453 | Owens-Brockway Glass Container, Inc. (Containers & Packaging) | 5.88 | 8/15/23 | 454 | ||||||||||||
2,289 | Party City Holdings, Inc. (Specialty Retail), Callable 8/1/21 @ 103.31^ (a) | 6.63 | 8/1/26 | 2,083 | ||||||||||||
968 | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 5/15/21 @ 104.31 | 5.75 | 5/15/26 | 862 | ||||||||||||
2,362 | PDC Energy, Inc. (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.59 | 6.13 | 9/15/24 | 2,185 | ||||||||||||
1,205 | Peabody Finance Corp. (Oil, Gas & Consumable Fuels), Callable 3/31/19 @ 103.00 (a) | 6.00 | 3/31/22 | 1,169 | ||||||||||||
763 | Penske Automotive Group (Specialty Retail), Callable 12/1/19 @ 102.69 | 5.38 | 12/1/24 | 714 | ||||||||||||
1,205 | Performance Food Group, Inc. (Food & Staples Retailing), Callable 6/1/19 @ 102.75 (a) | 5.50 | 6/1/24 | 1,166 |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 1,397 | Pilgrim’s Pride Corp. (Food Products), Callable 3/15/20 @ 102.88 (a) | 5.75 | 3/15/25 | $ | 1,310 | ||||||||||
1,927 | Plastipak Holdings, Inc. (Containers & Packaging), Callable 10/15/20 @ 103.13 (a) | 6.25 | 10/15/25 | 1,706 | ||||||||||||
1,805 | Post Holdings, Inc. (Food Products), Callable 8/15/21 @ 102.50 (a) | 5.00 | 8/15/26 | 1,642 | ||||||||||||
1,101 | Post Holdings, Inc. (Food Products), Callable 12/1/22 @ 102.81 (a) | 5.63 | 1/15/28 | 1,013 | ||||||||||||
698 | PulteGroup, Inc. (Household Durables), Callable 12/1/25 @ 100.00 | 5.50 | 3/1/26 | 672 | ||||||||||||
1,076 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 7/1/22 @ 100.00 | 5.38 | 10/1/22 | 979 | ||||||||||||
413 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 12/1/25 @ 100.00^ | 5.63 | 3/1/26 | 343 | ||||||||||||
1,070 | QEP Resources, Inc. (Oil, Gas & Consumable Fuels) | 6.80 | 3/1/20 | 1,077 | ||||||||||||
2,195 | Quad Graphics, Inc. (Commercial Services & Supplies) | 7.00 | 5/1/22 | 2,085 | ||||||||||||
1,377 | QualityTech, LP/QTS Finance Corp. (Diversified Financial Services), Callable 11/15/20 @ 103.56 (a) | 4.75 | 11/15/25 | 1,287 | ||||||||||||
2,056 | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 1/15/23 @ 102.63 (a) | 5.25 | 1/15/28 | 1,819 | ||||||||||||
907 | Quicken Loans, Inc. (Thrifts & Mortgage Finance), Callable 5/1/20 @ 102.88 (a) | 5.75 | 5/1/25 | 848 | ||||||||||||
684 | Quintiles IMS, Inc. (Life Sciences Tools & Services), Callable 10/15/21 @ 102.50 (a) | 5.00 | 10/15/26 | 653 | ||||||||||||
1,128 | Radian Group, Inc. (Thrifts & Mortgage Finance), Callable 7/1/24 @ 100.00 | 4.50 | 10/1/24 | 1,022 | ||||||||||||
792 | Range Resources Corp. (Oil, Gas & Consumable Fuels), Callable 5/15/22 @ 100.00 | 5.00 | 8/15/22 | 709 | ||||||||||||
4,831 | Rite Aid Corp. (Food & Staples Retailing), Callable 2/7/19 @ 104.59 (a) | 6.13 | 4/1/23 | 3,816 | ||||||||||||
1,748 | Rose Rock Midstream LP (Oil, Gas & Consumable Fuels), Callable 5/15/19 @ 102.81 | 5.63 | 11/15/23 | 1,591 | ||||||||||||
76 | Sabre Holdings Corp. (Software), Callable 2/7/19 @ 104.03 (a) | 5.38 | 4/15/23 | 76 | ||||||||||||
1,965 | Select Medical Corp. (Health Care Providers & Services), Callable 2/7/19 @ 101.59 | 6.38 | 6/1/21 | 1,960 | ||||||||||||
1,924 | Service Master Co. LLC (Diversified Consumer Services), Callable 11/15/19 @ 103.84 (a) | 5.13 | 11/15/24 | 1,818 | ||||||||||||
1,247 | Silgan Holdings, Inc. (Containers & Packaging), Callable 3/15/20 @ 102.38 | 4.75 | 3/15/25 | 1,163 | ||||||||||||
2,281 | Sinclair Television Group (Media), Callable 8/1/19 @ 102.81 (a) | 5.63 | 8/1/24 | 2,138 | ||||||||||||
819 | Sirius XM Radio, Inc. (Media), Callable 4/15/20 @ 102.69 | 5.38 | 4/15/25 | 776 | ||||||||||||
742 | Sirius XM Radio, Inc. (Media), Callable 7/15/21 @ 102.69 (a) | 5.38 | 7/15/26 | 694 | ||||||||||||
2,397 | SLM Corp., MTN (Consumer Finance) | 7.25 | 1/25/22 | 2,314 | ||||||||||||
460 | Sonic Automotive, Inc. (Specialty Retail), Callable 2/7/19 @ 102.50 | 5.00 | 5/15/23 | 417 | ||||||||||||
440 | Sonic Automotive, Inc. (Specialty Retail), Callable 3/15/22 @ 103.06 | 6.13 | 3/15/27 | 385 | ||||||||||||
1,825 | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 10/23/24 @ 100.00 | 6.70 | 1/23/25 | 1,631 | ||||||||||||
1,866 | Southwestern Energy Co. (Oil, Gas & Consumable Fuels), Callable 4/1/21 @ 105.63 | 7.50 | 4/1/26 | 1,763 | ||||||||||||
1,413 | Springleaf Finance Corp. (Consumer Finance) | 5.63 | 3/15/23 | 1,303 | ||||||||||||
891 | Springleaf Finance Corp. (Consumer Finance) | 6.88 | 3/15/25 | 797 | ||||||||||||
764 | Springleaf Finance Corp. (Consumer Finance) | 7.13 | 3/15/26 | 682 | ||||||||||||
1,953 | Sprint Capital Corp. (Wireless Telecommunication Services) | 6.88 | 11/15/28 | 1,846 | ||||||||||||
3,662 | Sprint Corp. (Wireless Telecommunication Services) | 7.13 | 6/15/24 | 3,628 | ||||||||||||
487 | Sprint Corp. (Wireless Telecommunication Services), Callable 11/15/24 @ 100.00 | 7.63 | 2/15/25 | 487 | ||||||||||||
678 | Sprint Corp. (Wireless Telecommunication Services), Callable 11/1/25 @ 100.00 | 7.63 | 3/1/26 | 670 | ||||||||||||
595 | Sprint Nextel Corp. (Wireless Telecommunication Services) | 11.50 | 11/15/21 | 674 | ||||||||||||
3,299 | Staples, Inc. (Specialty Retail), Callable 9/15/20 @ 104.25 (a) | 8.50 | 9/15/25 | 2,977 | ||||||||||||
885 | Steel Dynamics, Inc. (Metals & Mining), Callable 9/15/20 @ 102.06 | 4.13 | 9/15/25 | 813 | ||||||||||||
30 | Steel Dynamics, Inc. (Metals & Mining), Callable 12/15/21 @ 102.50 | 5.00 | 12/15/26 | 28 | ||||||||||||
356 | Steel Dynamics, Inc. (Metals & Mining), Callable 2/7/19 @ 102.63 | 5.25 | 4/15/23 | 351 | ||||||||||||
2,518 | Tallgrass Energy Partners (Oil, Gas & Consumable Fuels), Callable 9/15/19 @ 104.13 | 5.50 | 9/15/24 | 2,474 | ||||||||||||
1,809 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 10/1/20 @ 102.38 (a) | 4.75 | 10/1/23 | 1,746 | ||||||||||||
722 | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/23 @ 102.75 (a) | 5.50 | 1/15/28 | 693 | ||||||||||||
2,262 | Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc. (Household Durables), Callable 12/1/23 @ 100.00 (a) | 5.63 | 3/1/24 | 2,148 | ||||||||||||
48 | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 11/15/22 @ 102.31 | 4.63 | 11/15/27 | 45 | ||||||||||||
1,275 | Teleflex, Inc. (Health Care Equipment & Supplies), Callable 6/1/21 @ 102.44 | 4.88 | 6/1/26 | 1,217 | ||||||||||||
1,165 | Tenet Healthcare Corp. (Health Care Providers & Services) | 4.50 | 4/1/21 | 1,133 | ||||||||||||
1,348 | Tenet Healthcare Corp. (Health Care Providers & Services), Callable 5/1/20 @ 102.56 | 5.13 | 5/1/25 | 1,257 | ||||||||||||
584 | Tenet Healthcare Corp. (Health Care Providers & Services), Callable 2/7/19 @ 103.75 (a) | 7.50 | 1/1/22 | 593 | ||||||||||||
870 | Tenneco, Inc. (Auto Components), Callable 7/15/21 @ 102.50 | 5.00 | 7/15/26 | 669 |
See accompanying notes to financial statements.
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The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 685 | TerraForm Power Operating LLC (Independent Power and Renewable Electricity Producers), Callable 10/31/22 @ 100.00 (a) | 4.25 | 1/31/23 | $ | 639 | ||||||||||
685 | TerraForm Power Operating LLC (Independent Power and Renewable Electricity Producers), Callable 7/31/27 @ 100.00 (a) | 5.00 | 1/31/28 | 603 | ||||||||||||
1,177 | The EW Scripps Co. (Media), Callable 5/15/20 @ 103.84 (a) | 5.13 | 5/15/25 | 1,080 | ||||||||||||
1,409 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 4/15/19 @ 104.50 | 6.00 | 4/15/24 | 1,409 | ||||||||||||
464 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/18/19 @ 103.25 | 6.50 | 1/15/24 | 477 | ||||||||||||
1,481 | T-Mobile USA, Inc. (Wireless Telecommunication Services), Callable 1/15/21 @ 103.25 | 6.50 | 1/15/26 | 1,511 | ||||||||||||
84 | Toll Brothers Finance Corp. (Household Durables), Callable 1/15/23 @ 100.00 | 4.38 | 4/15/23 | 79 | ||||||||||||
811 | TransDigm, Inc. (Aerospace & Defense), Callable 2/7/19 @ 100.00 | 5.50 | 10/15/20 | 805 | ||||||||||||
461 | Triumph Group, Inc. (Aerospace & Defense), Callable 2/7/19 @ 101.22 | 4.88 | 4/1/21 | 414 | ||||||||||||
1,182 | Triumph Group, Inc. (Aerospace & Defense), Callable 2/7/19 @ 102.63 | 5.25 | 6/1/22 | 1,028 | ||||||||||||
1,984 | Tronox, Inc. (Chemicals), Callable 4/15/21 @ 103.25 (a) | 6.50 | 4/15/26 | 1,647 | ||||||||||||
636 | Ultra Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/19 @ 103.44 (a) | 6.88 | 4/15/22 | 223 | ||||||||||||
1,104 | Ultra Resources, Inc. (Oil, Gas & Consumable Fuels), Callable 4/15/20 @ 105.34^ (a) | 7.13 | 4/15/25 | 342 | ||||||||||||
4,421 | Unit Corp. (Energy Equipment & Services), Callable 2/7/19 @ 101.10 | 6.63 | 5/15/21 | 4,022 | ||||||||||||
709 | United Rentals North America, Inc. (Trading Companies & Distributors), Callable 10/15/20 @ 102.31 | 4.63 | 10/15/25 | 633 | ||||||||||||
2,574 | United Rentals North America, Inc. (Trading Companies & Distributors), Callable 9/15/21 @ 102.94 | 5.88 | 9/15/26 | 2,426 | ||||||||||||
516 | United Rentals North America, Inc. (Trading Companies & Distributors), Callable 12/15/21 @ 103.25 | 6.50 | 12/15/26 | 508 | ||||||||||||
978 | Universal Hospital Services, Inc. (Health Care Providers & Services), Callable 2/4/19 @ 100.00 | 7.63 | 8/15/20 | 971 | ||||||||||||
522 | Univision Communications, Inc. (Media), Callable 2/7/19 @ 102.56 | 5.13 | 5/15/23 | 468 | ||||||||||||
21 | Univision Communications, Inc. (Media), Callable 2/15/20 @ 102.56 (a) | 5.13 | 2/15/25 | 18 | ||||||||||||
1,497 | URS Corp. (Diversified Financial Services), Callable 1/1/22 @ 100.00 | 5.00 | 4/1/22 | 1,483 | ||||||||||||
1,173 | VeriSign, Inc. (IT Services), Callable 7/15/22 @ 102.38 | 4.75 | 7/15/27 | 1,100 | ||||||||||||
1,315 | ViaSat, Inc. (Communications Equipment), Callable 9/15/20 @ 102.81 (a) | 5.63 | 9/15/25 | 1,210 | ||||||||||||
1,702 | Vistra Operations Co. LLC (Electric Utilities), Callable 9/1/21 @ 102.75 (a) | 5.50 | 9/1/26 | 1,638 | ||||||||||||
514 | WellCare Health Plans, Inc. (Health Care Providers & Services), Callable 8/15/21 @ 104.03 (a) | 5.38 | 8/15/26 | 496 | ||||||||||||
872 | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels), Callable 12/15/20 @ 100.00 | 5.75 | 3/15/21 | 828 | ||||||||||||
521 | Whiting Petroleum Corp. (Oil, Gas & Consumable Fuels), | 6.25 | 4/1/23 | 474 | ||||||||||||
840 | William Lyon Homes, Inc. (Household Durables), Callable 1/31/20 @ 102.94 | 5.88 | 1/31/25 | 714 | ||||||||||||
1,450 | Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure), Callable 4/15/21 @ 102.69 (a) | 5.38 | 4/15/26 | 1,392 | ||||||||||||
1,364 | Zayo Group LLC/Zayo Capital, Inc. (Diversified Telecommunication Services), Callable 1/15/22 @ 102.88 (a) | 5.75 | 1/15/27 | 1,217 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 324,385 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 11.91% | ||||||||||||||||
1,000 | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure), Callable 5/15/20 @ 102.13 | 4.25 | 5/15/24 | 921 | ||||||||||||
1,518 | 1011778 BC ULC/New Red Finance, Inc. (Hotels, Restaurants & Leisure), Callable 10/15/20 @ 102.50 (a) | 5.00 | 10/15/25 | 1,396 | ||||||||||||
1,168 | Adient Global Holdings Ltd. (Diversified Financial Services), Callable 8/15/21 @ 102.44 (a) | 4.88 | 8/15/26 | 894 | ||||||||||||
389 | Alcoa Nederland Holding (Metals & Mining), Callable 5/15/23 @ 103.06 (a) | 6.13 | 5/15/28 | 372 | ||||||||||||
1,801 | Alcoa Nederland Holding (Metals & Mining), Callable 9/30/21 @ 103.50 (a) | 7.00 | 9/30/26 | 1,837 | ||||||||||||
3,845 | Altice Financing SA (Diversified Financial Services), Callable 2/7/19 @ 104.97 (a) | 6.63 | 2/15/23 | 3,691 | ||||||||||||
730 | Altice Financing SA (Diversified Financial Services), Callable 5/15/21 @ 103.75 (a) | 7.50 | 5/15/26 | 666 | ||||||||||||
1,440 | Altice France SA/France (Diversified Telecommunication Services), Callable 2/1/22 @ 106.09 (a) | 8.13 | 2/1/27 | 1,357 | ||||||||||||
1,058 | Ardagh Packaging Finance/Holdings USA (Containers & Packaging), Callable 2/15/20 @ 104.50 (a) | 6.00 | 2/15/25 | 977 | ||||||||||||
1,561 | Bombardier, Inc. (Aerospace & Defense), Callable 2/7/19 @ 103.00 (a) | 6.00 | 10/15/22 | 1,463 | ||||||||||||
557 | Brookfield Residential Properties, Inc. (Household Durables), Callable 2/7/19 @ 103.06 (a) | 6.13 | 7/1/22 | 526 |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars (continued) | ||||||||||||||||
$ | 561 | Brookfield Residential Properties, Inc. (Household Durables), Callable 5/15/20 @ 103.19 (a) | 6.38 | 5/15/25 | $ | 512 | ||||||||||
1,642 | C&W Senior Financing DAC (Diversified Financial Services), Callable 10/15/21 @ 103.75 (a) | 7.50 | 10/15/26 | 1,579 | ||||||||||||
1,436 | Cascades, Inc. (Containers & Packaging), Callable 2/7/19 @ 102.75 (a) | 5.50 | 7/15/22 | 1,400 | ||||||||||||
709 | Cascades, Inc. (Containers & Packaging), Callable 2/7/19 @ 104.31 (a) | 5.75 | 7/15/23 | 684 | ||||||||||||
1,504 | Cimpress NV (Commercial Services & Supplies), Callable 6/15/21 @ 105.25 (a) | 7.00 | 6/15/26 | 1,444 | ||||||||||||
1,380 | Cooke Omega Investments, Inc./Alpha Vessel Co. Holdings, Inc. (Food Products), Callable 6/15/20 @ 104.25 (a) | 8.50 | 12/15/22 | 1,346 | ||||||||||||
2,009 | Cott Holdings, Inc. (Beverages), Callable 4/1/20 @ 104.13 (a) | 5.50 | 4/1/25 | 1,893 | ||||||||||||
1,846 | Ensco PLC (Energy Equipment & Services), Callable 11/1/25 @ 100.00 | 7.75 | 2/1/26 | 1,366 | ||||||||||||
1,043 | goeasy Ltd. (Consumer Finance), Callable 11/1/19 @ 103.94 (a) | 7.88 | 11/1/22 | 1,056 | ||||||||||||
1,572 | Hudbay Minerals, Inc. (Metals & Mining), Callable 1/15/20 @ 105.72 (a) | 7.63 | 1/15/25 | 1,537 | ||||||||||||
293 | Intelsat Jackson Holdings SA (Diversified Financial Services), Callable 2/7/19 @ 102.75 | 5.50 | 8/1/23 | 255 | ||||||||||||
1,165 | International Game Technology (Hotels, Restaurants & Leisure), Callable 8/15/21 @ 100.00 (a) | 6.25 | 2/15/22 | 1,168 | ||||||||||||
1,029 | International Game Technology PLC (Hotels, Restaurants & Leisure), Callable 7/15/26 @ 100.00 (a) | 6.25 | 1/15/27 | 988 | ||||||||||||
639 | James Hardie International Finance DAC (Construction Materials), Callable 1/15/21 @ 102.38 (a) | 4.75 | 1/15/25 | 581 | ||||||||||||
1,088 | JBS USA Lux SA /JBS USA Finance, Inc. (Food Products), Callable 2/15/23 @ 103.38 | 6.75 | 2/15/28 | 1,061 | ||||||||||||
2,087 | Kinross Gold Corp. (Metals & Mining), Callable 4/15/27 @ 100.00 | 4.50 | 7/15/27 | 1,802 | ||||||||||||
1,561 | Mallinckrodt Finance/SB (Pharmaceuticals), Callable 2/7/19 @ 102.88^ (a) | 5.75 | 8/1/22 | 1,342 | ||||||||||||
2,193 | Mallinckrodt International Finance (Pharmaceuticals), Callable 2/7/19 @ 101.22 (a) | 4.88 | 4/15/20 | 2,117 | ||||||||||||
1,100 | MDC Partners, Inc. (Media), Callable 5/1/19 @ 104.88 (a) | 6.50 | 5/1/24 | 1,001 | ||||||||||||
339 | Nokia Oyj (Communications Equipment) | 4.38 | 6/12/27 | 315 | ||||||||||||
1,523 | Nova Chemicals Corp. (Chemicals), Callable 3/3/24 @ 100.00 (a) | 4.88 | 6/1/24 | 1,375 | ||||||||||||
921 | Nova Chemicals Corp. (Chemicals), Callable 2/7/19 @ 102.63 (a) | 5.25 | 8/1/23 | 870 | ||||||||||||
1,994 | Nufarm Australia Ltd./Nufarm Americas, Inc. (Chemicals), Callable 4/30/21 @ 102.88 (a) | 5.75 | 4/30/26 | 1,818 | ||||||||||||
1,336 | Numericable – SFR SAS (Diversified Telecommunication Services), Callable 5/15/19 @ 103.13 (a) | 6.25 | 5/15/24 | 1,246 | ||||||||||||
1,243 | Numericable – SFR SAS (Diversified Telecommunication Services), Callable 5/1/21 @ 103.69 (a) | 7.38 | 5/1/26 | 1,140 | ||||||||||||
1,795 | Open Text Corp. (Software), Callable 6/1/21 @ 102.94 (a) | 5.88 | 6/1/26 | 1,759 | ||||||||||||
1,302 | Park Aerospace Holdings (Diversified Financial Services) (a) | 5.25 | 8/15/22 | 1,260 | ||||||||||||
2,779 | Parkland Fuel Corp. (Oil, Gas & Consumable Fuels), Callable 4/1/21 @ 104.50 (a) | 6.00 | 4/1/26 | 2,605 | ||||||||||||
691 | Precision Drilling Corp. (Energy Equipment & Services), Callable 11/15/20 @ 105.34 (a) | 7.13 | 1/15/26 | 594 | ||||||||||||
1,096 | Precision Drilling Corp. (Energy Equipment & Services), Callable 12/15/19 @ 103.88 | 7.75 | 12/15/23 | 1,010 | ||||||||||||
1,096 | Quebecor Media, Inc. (Media) | 5.75 | 1/15/23 | 1,101 | ||||||||||||
905 | Rockpoint Gas Storage Canada Ltd. (Oil, Gas & Consumable Fuels), Callable 3/31/20 @ 107.00 (a) | 7.00 | 3/31/23 | 851 | ||||||||||||
1,743 | Royal Bank of Scotland Group PLC (Banks) | 6.13 | 12/15/22 | 1,766 | ||||||||||||
3,232 | Shelf Drilling Holdings Ltd. (Energy Equipment & Services), Callable 2/15/21 @ 106.19 (a) | 8.25 | 2/15/25 | 2,763 | ||||||||||||
1,219 | Teck Resources Ltd. (Metals & Mining), Callable 1/15/41 @ 100.00 | 6.25 | 7/15/41 | 1,155 | ||||||||||||
806 | Telecom Italia Capital SA (Diversified Telecommunication Services) | 6.00 | 9/30/34 | 697 | ||||||||||||
1,995 | Telecom Italia Capital SA (Diversified Telecommunication Services) | 6.38 | 11/15/33 | 1,801 | ||||||||||||
3,187 | Teva Pharmaceutical Finance Netherlands III BV (Pharmaceuticals), Callable 12/1/27 @ 100.00 | 6.75 | 3/1/28 | 3,090 | ||||||||||||
234 | Transocean Guardian Ltd. (Energy Equipment & Services), Callable 7/15/21 @ 102.94 (a) | 5.88 | 1/15/24 | 224 | ||||||||||||
1,466 | Transocean Phoenix 2 Ltd. (Energy Equipment & Services), Callable 10/15/20 @ 103.88 (a) | 7.75 | 10/15/24 | 1,459 | ||||||||||||
231 | Transocean Pontus Ltd. (Energy Equipment & Services), Callable 8/1/21 @ 104.59 (a) | 6.13 | 8/1/25 | 223 | ||||||||||||
1,273 | Tullow Oil PLC (Oil, Gas & Consumable Fuels), Callable 3/1/21 @ 103.50 (a) | 7.00 | 3/1/25 | 1,181 | ||||||||||||
674 | UPCB Finance IV Ltd. (Media), Callable 1/15/20 @ 102.69 (a) | 5.38 | 1/15/25 | 630 | ||||||||||||
2,972 | VRX Escrow Corp. (Pharmaceuticals), Callable 2/7/19 @ 102.94 (a) | 5.88 | 5/15/23 | 2,750 | ||||||||||||
2,334 | VRX Escrow Corp. (Pharmaceuticals), Callable 4/15/20 @ 103.06 (a) | 6.13 | 4/15/25 | 2,037 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 72,952 | |||||||||||||||
|
|
See accompanying notes to financial statements.
145
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Shares | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Exchange-Traded Fund — 5.52% | ||||||||||||||||
416,956 | iShares Iboxx $ High Yield Corporate Bond Fund^ | $ | 33,815 | |||||||||||||
|
| |||||||||||||||
Total Exchange-Traded Fund | 33,815 | |||||||||||||||
|
| |||||||||||||||
Investment Companies — 7.81% | ||||||||||||||||
17,481,091 | Federated Treasury Obligations Fund, Institutional Shares^^ | 2.25 | (e) | 17,481 | ||||||||||||
163,051 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (e) | 163 | ||||||||||||
30,210,265 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (e) | 30,210 | ||||||||||||
|
| |||||||||||||||
Total Investment Companies | 47,854 | |||||||||||||||
|
| |||||||||||||||
Purchased Swaptions — 0.16% | ||||||||||||||||
Total Purchased Swaptions | 999 | |||||||||||||||
|
| |||||||||||||||
Principal Amount (000) | ||||||||||||||||
Repurchase Agreement — 4.31% | ||||||||||||||||
$ | 26,379 | Jefferies LLC (Purchased on 12/31/18, proceeds at maturity $26,383,966 collateralized by U.S. Treasury Obligations, 2.56% – 3.04%, 8/15/19 – 2/15/47 fair value $26,907,011)^^ | 3.10 | 1/2/19 | 26,379 | |||||||||||
|
| |||||||||||||||
Total Repurchase Agreement | 26,379 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $659,253) — 105.26% | 644,683 | |||||||||||||||
Liabilities in excess of other assets — (5.26)% | (32,234 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 612,449 | ||||||||||||||
|
|
^ | All or part of this security was on loan as of December 31, 2018. The total value of securities on loan as of December 31, 2018, was $41,527 (amount in thousands). |
^^ | Purchased with cash collateral held from securities lending. The value of the collateral could include collateral held for securities that were sold on or before December 31, 2018. |
(a) | Represents a security purchased under Rule 144A or Section 4(2) and is exempt from registration under the Securities Act of 1933, as amended, or is otherwise restricted to resale. Certain of these securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. These securities have been deemed liquid by the Specialist Manager. |
(b) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate disclosed is the rate in effect on December 31, 2018. |
(c) | Variable Rate Security. The rate disclosed is the rate in effect on December 31, 2018. |
(d) | A perpetual bond is one with no maturity date that pays a fixed interest rate until the bond insurance is terminated. |
(e) | The rate disclosed is the rate in effect on December 31, 2018. |
bps — Basis Points
LIBOR06 — 6 Month US Dollar LIBOR
MTN — Medium Term Note
ULC — Unlimited Liability Co.
US0001M — 1 Month US Dollar LIBOR
US0003M — 3 Month US Dollar LIBOR
See accompanying notes to financial statements.
146
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Fixed Income Opportunity Portfolio | Fort Washington Investment Advisors, Inc. | Parametric Portfolio Associates, LLC | Western Asset Management Company, Ltd. | Total | ||||||||||||
Asset Backed Securities | — | — | 0.59 | % | 0.59 | % | ||||||||||
Collateralized Mortgage Obligations | — | — | 17.65 | % | 17.65 | % | ||||||||||
U.S. Government Agency Mortgages | — | — | 4.34 | % | 4.34 | % | ||||||||||
Corporate Bonds | 52.62 | % | — | 0.35 | % | 52.97 | % | |||||||||
Yankee Dollars | 11.91 | % | — | — | 11.91 | % | ||||||||||
Exchange-Traded Fund | — | 5.52 | % | — | 5.52 | % | ||||||||||
Investment Companies | 0.63 | % | 2.59 | % | 4.59 | % | 7.81 | % | ||||||||
Purchased Swaptions | — | — | 0.16 | % | 0.16 | % | ||||||||||
Repurchase Agreement | 0.95 | % | 3.36 | % | — | 4.31 | % | |||||||||
Other Assets (Liabilities) | 0.18 | % | -5.52 | % | 0.08 | % | -5.26 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 66.29 | % | 5.95 | % | 27.76 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
The following tables reflect the open derivative positions held by the Portfolio as of December 31, 2018.
Futures Contracts Purchased^
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||||
5-Year US Treasury Note Future | 18 | 3/29/19 | $ | 2,065 | $ | 21 | ||||||||||
Ultra Long Term US Treasury Bond Future | 5 | 3/20/19 | 803 | 43 | ||||||||||||
|
|
|
| |||||||||||||
$ | 2,868 | $ | 64 | |||||||||||||
|
|
|
|
Futures Contracts Sold^
Description | Number of | Expiration Date | Notional Amount (000) | Value and Unrealized Appreciation/ (Depreciation) (000) | ||||||||||
10-Year US Treasury Note Future | 66 | 3/20/19 | $ | 8,053 | $ | (190 | ) | |||||||
10-Year US Treasury Note Future | 114 | 3/20/19 | 14,829 | (477 | ) | |||||||||
30-Year US Treasury Bond Future | 20 | 3/20/19 | 2,920 | (132 | ) | |||||||||
5-Year US Treasury Note Future | 98 | 3/29/19 | 11,239 | (195 | ) | |||||||||
|
|
|
| |||||||||||
$ | 37,041 | $ | (994 | ) | ||||||||||
|
|
|
| |||||||||||
Total Unrealized Appreciation |
| $ | 64 | |||||||||||
Total Unrealized Depreciation |
| (994 | ) | |||||||||||
|
| |||||||||||||
Total Net Unrealized Appreciation/(Depreciation) |
| $ | (930 | ) | ||||||||||
|
|
^ | Cash has been pledged as collateral for futures contracts held by the Portfolio. |
See accompanying notes to financial statements.
147
Table of Contents
HC CAPITAL TRUST
The Fixed Income Opportunity Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Swaption Contracts
Over-the-counter swaptions purchased as of December 31, 2018 were as follows:
Description and terms of payments | Counterparty | Exercise Price | Expiration Date | Notional Amount (000)† | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||
Credit default swaption on buy protection Markit CDX.NA. JG.31 12/20/23, Put Option | Goldman Sachs International | $ | 90.00 | 2/20/19 | $ | 2,917 | $ | 999 | $ | 667 | $ | 332 | ||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Total | $ | 999 | $ | 667 | $ | 332 | ||||||||||||||||||||
|
|
|
|
|
|
Over-the-counter swaptions written as of December 31, 2018 were as follows:
Description and terms of payments | Counterparty | Exercise Price | Expiration Date | Notional Amount (000)† | Value (000) | Upfront Premiums Paid/ (Received) (000) | Unrealized Appreciation/ (Depreciation) (000) | |||||||||||||||||||
Credit default swaption on sell protection Markit CDX.NA. JG.31 12/20/23, Put Option | Goldman Sachs International | $ | 120.00 | 2/20/19 | $ | 2,917 | $ | (259 | ) | $ | (204 | ) | $ | (55 | ) | |||||||||||
|
|
|
|
|
| |||||||||||||||||||||
Total | $ | (259 | ) | $ | (204 | ) | $ | (55 | ) | |||||||||||||||||
|
|
|
|
|
|
† | In the event a credit default swaption is exercised and a credit event occurs as defined under the terms of the swap agreement, the notional amount is the maximum potential amount that could be required to be paid as a seller of credit protection or received as a buyer of credit protection. |
See accompanying notes to financial statements.
148
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Securities — 3.29% | ||||||||||||||||
$ | 300 | Fannie Mae | 1.13 | 7/26/19 | $ | 297 | ||||||||||
350 | Fannie Mae | 1.38 | 10/7/21 | 339 | ||||||||||||
260 | Fannie Mae | 1.50 | 6/22/20 | 256 | ||||||||||||
350 | Fannie Mae | 1.88 | 9/24/26 | 326 | ||||||||||||
400 | Fannie Mae | 2.00 | 10/5/22 | 393 | ||||||||||||
150 | Fannie Mae | 2.13 | 4/24/26 | 143 | ||||||||||||
250 | Fannie Mae | 2.63 | 9/6/24 | 249 | ||||||||||||
95 | Fannie Mae | 6.25 | 5/15/29 | 122 | ||||||||||||
160 | Fannie Mae | 6.63 | 11/15/30 | 215 | ||||||||||||
180 | Fannie Mae | 7.25 | 5/15/30 | 250 | ||||||||||||
50 | Federal Farm Credit Bank, Callable 1/14/19 @ 100.00 | 1.58 | 2/17/21 | 49 | ||||||||||||
500 | Federal Home Loan Bank | 1.13 | 7/14/21 | 483 | ||||||||||||
500 | Federal Home Loan Bank | 1.38 | 9/28/20 | 490 | ||||||||||||
500 | Federal Home Loan Bank | 1.38 | 2/18/21 | 488 | ||||||||||||
50 | Federal Home Loan Bank | 2.13 | 3/10/23 | 49 | ||||||||||||
75 | Federal Home Loan Bank, Callable 1/29/20 @ 100.00 | 2.25 | 1/29/21 | 75 | ||||||||||||
100 | Federal Home Loan Bank, Callable 3/29/19 @ 100.00 | 2.51 | 12/29/22 | 99 | ||||||||||||
100 | Federal Home Loan Bank | 2.63 | 10/1/20 | 100 | ||||||||||||
500 | Federal Home Loan Bank | 2.63 | 5/28/20 | 501 | ||||||||||||
160 | Federal Home Loan Bank | 2.88 | 9/11/20 | 161 | ||||||||||||
150 | Federal Home Loan Bank | 2.88 | 9/13/24 | 151 | ||||||||||||
500 | Federal Home Loan Bank | 3.00 | 10/12/21 | 506 | ||||||||||||
300 | Federal Home Loan Bank | 3.38 | 9/8/23 | 309 | ||||||||||||
180 | Federal Home Loan Bank | 5.25 | 12/11/20 | 189 | ||||||||||||
65 | Federal Home Loan Bank | 5.50 | 7/15/36 | 84 | ||||||||||||
200 | Freddie Mac | 1.38 | 5/1/20 | 197 | ||||||||||||
250 | Freddie Mac | 1.40 | 8/22/19 | 248 | ||||||||||||
500 | Freddie Mac | 1.50 | 1/17/20 | 493 | ||||||||||||
500 | Freddie Mac | 1.88 | 11/17/20 | 494 | ||||||||||||
350 | Freddie Mac | 2.38 | 1/13/22 | 349 | ||||||||||||
150 | Freddie Mac | 6.25 | 7/15/32 | 200 | ||||||||||||
180 | Freddie Mac | 6.75 | 3/15/31 | 245 | ||||||||||||
110 | Tennessee Valley Authority | 4.70 | 7/15/33 | 127 | ||||||||||||
85 | Tennessee Valley Authority | 5.25 | 9/15/39 | 107 | ||||||||||||
100 | Tennessee Valley Authority | 5.88 | 4/1/36 | 130 | ||||||||||||
190 | Tennessee Valley Authority | 6.15 | 1/15/38 | 258 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Securities | 9,172 | |||||||||||||||
|
| |||||||||||||||
U.S. Treasury Obligations — 95.88% | ||||||||||||||||
1,460 | U.S. Treasury Bond | 2.25 | 8/15/46 | 1,250 | ||||||||||||
1,135 | U.S. Treasury Bond | 2.50 | 2/15/46 | 1,027 | ||||||||||||
1,015 | U.S. Treasury Bond | 2.50 | 2/15/45 | 922 | ||||||||||||
1,550 | U.S. Treasury Bond | 2.50 | 5/15/46 | 1,400 | ||||||||||||
837 | U.S. Treasury Bond | 2.75 | 8/15/42 | 803 | ||||||||||||
671 | U.S. Treasury Bond | 2.75 | 11/15/42 | 643 | ||||||||||||
1,520 | U.S. Treasury Bond | 2.75 | 11/15/47 | 1,441 | ||||||||||||
1,110 | U.S. Treasury Bond | 2.75 | 8/15/47 | 1,053 | ||||||||||||
955 | U.S. Treasury Bond | 2.88 | 11/15/46 | 930 | ||||||||||||
1,980 | U.S. Treasury Bond | 2.88 | 8/15/45 | 1,932 | ||||||||||||
1,116 | U.S. Treasury Bond | 2.88 | 5/15/43 | 1,091 | ||||||||||||
389 | U.S. Treasury Bond | 3.00 | 5/15/42 | 390 | ||||||||||||
1,015 | U.S. Treasury Bond | 3.00 | 11/15/44 | 1,015 | ||||||||||||
1,925 | U.S. Treasury Bond | 3.00 | 5/15/47 | 1,920 | ||||||||||||
1,260 | U.S. Treasury Bond | 3.00 | 5/15/45 | 1,260 | ||||||||||||
2,005 | U.S. Treasury Bond | 3.00 | 2/15/47 | 2,003 |
See accompanying notes to financial statements.
149
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,470 | U.S. Treasury Bond | 3.00 | 11/15/45 | $ | 1,470 | ||||||||||
1,520 | U.S. Treasury Bond | 3.00 | 2/15/48 | 1,515 | ||||||||||||
1,675 | U.S. Treasury Bond | 3.00 | 8/15/48 | 1,670 | ||||||||||||
1,647 | U.S. Treasury Bond | 3.13 | 2/15/43 | 1,683 | ||||||||||||
416 | U.S. Treasury Bond | 3.13 | 11/15/41 | 427 | ||||||||||||
425 | U.S. Treasury Bond | 3.13 | 2/15/42 | 436 | ||||||||||||
1,010 | U.S. Treasury Bond | 3.13 | 8/15/44 | 1,033 | ||||||||||||
1,505 | U.S. Treasury Bond | 3.13 | 5/15/48 | 1,536 | ||||||||||||
600 | U.S. Treasury Bond | 3.38 | 11/15/48 | 643 | ||||||||||||
1,130 | U.S. Treasury Bond | 3.38 | 5/15/44 | 1,206 | ||||||||||||
1,005 | U.S. Treasury Bond | 3.50 | 2/15/39 | 1,101 | ||||||||||||
900 | U.S. Treasury Bond | 3.63 | 8/15/43 | 998 | ||||||||||||
1,280 | U.S. Treasury Bond | 3.63 | 2/15/44 | 1,420 | ||||||||||||
1,345 | U.S. Treasury Bond | 3.75 | 11/15/43 | 1,522 | ||||||||||||
730 | U.S. Treasury Bond | 3.75 | 8/15/41 | 825 | ||||||||||||
685 | U.S. Treasury Bond | 3.88 | 8/15/40 | 788 | ||||||||||||
540 | U.S. Treasury Bond | 4.25 | 11/15/40 | 654 | ||||||||||||
175 | U.S. Treasury Bond | 4.25 | 5/15/39 | 211 | ||||||||||||
363 | U.S. Treasury Bond | 4.38 | 5/15/40 | 446 | ||||||||||||
300 | U.S. Treasury Bond | 4.38 | 11/15/39 | 368 | ||||||||||||
530 | U.S. Treasury Bond | 4.38 | 2/15/38 | 650 | ||||||||||||
546 | U.S. Treasury Bond | 4.38 | 5/15/41 | 673 | ||||||||||||
425 | U.S. Treasury Bond | 4.50 | 8/15/39 | 530 | ||||||||||||
255 | U.S. Treasury Bond | 4.50 | 5/15/38 | 318 | ||||||||||||
325 | U.S. Treasury Bond | 4.50 | 2/15/36 | 401 | ||||||||||||
673 | U.S. Treasury Bond | 4.63 | 2/15/40 | 854 | ||||||||||||
70 | U.S. Treasury Bond | 4.75 | 2/15/37 | 89 | ||||||||||||
825 | U.S. Treasury Bond | 4.75 | 2/15/41 | 1,068 | ||||||||||||
235 | U.S. Treasury Bond | 5.00 | 5/15/37 | 309 | ||||||||||||
282 | U.S. Treasury Bond | 5.25 | 11/15/28 | 344 | ||||||||||||
760 | U.S. Treasury Bond | 5.25 | 2/15/29 | 930 | ||||||||||||
299 | U.S. Treasury Bond | 5.38 | 2/15/31 | 380 | ||||||||||||
85 | U.S. Treasury Bond | 6.00 | 2/15/26 | 104 | ||||||||||||
235 | U.S. Treasury Bond | 6.13 | 11/15/27 | 299 | ||||||||||||
150 | U.S. Treasury Bond | 6.13 | 8/15/29 | 197 | ||||||||||||
320 | U.S. Treasury Bond | 6.25 | 5/15/30 | 429 | ||||||||||||
122 | U.S. Treasury Bond | 6.25 | 8/15/23 | 142 | ||||||||||||
100 | U.S. Treasury Bond | 6.38 | 8/15/27 | 129 | ||||||||||||
218 | U.S. Treasury Bond | 6.50 | 11/15/26 | 278 | ||||||||||||
200 | U.S. Treasury Bond | 6.75 | 8/15/26 | 257 | ||||||||||||
100 | U.S. Treasury Bond | 7.25 | 8/15/22 | 116 | ||||||||||||
295 | U.S. Treasury Bond | 7.63 | 2/15/25 | 379 | ||||||||||||
7 | U.S. Treasury Bond | 7.88 | 2/15/21 | 8 | ||||||||||||
400 | U.S. Treasury Bond | 8.00 | 11/15/21 | 460 | ||||||||||||
110 | U.S. Treasury Bond | 8.13 | 8/15/21 | 126 | ||||||||||||
750 | U.S. Treasury Bond | 8.50 | 2/15/20 | 798 | ||||||||||||
1,875 | U.S. Treasury Note | 1.13 | 7/31/21 | 1,811 | ||||||||||||
875 | U.S. Treasury Note | 1.13 | 6/30/21 | 847 | ||||||||||||
520 | U.S. Treasury Note | 1.13 | 3/31/20 | 511 | ||||||||||||
1,100 | U.S. Treasury Note | 1.13 | 9/30/21 | 1,061 | ||||||||||||
1,005 | U.S. Treasury Note | 1.13 | 8/31/21 | 970 | ||||||||||||
1,870 | U.S. Treasury Note | 1.13 | 2/28/21 | 1,816 | ||||||||||||
1,075 | U.S. Treasury Note | 1.13 | 4/30/20 | 1,055 | ||||||||||||
850 | U.S. Treasury Note | 1.25 | 10/31/21 | 822 |
See accompanying notes to financial statements.
150
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,870 | U.S. Treasury Note | 1.25 | 3/31/21 | $ | 1,820 | ||||||||||
930 | U.S. Treasury Note | 1.25 | 7/31/23 | 880 | ||||||||||||
1,074 | U.S. Treasury Note | 1.25 | 1/31/20 | 1,058 | ||||||||||||
500 | U.S. Treasury Note | 1.25 | 2/29/20 | 492 | ||||||||||||
1,585 | U.S. Treasury Note | 1.38 | 4/30/21 | 1,546 | ||||||||||||
650 | U.S. Treasury Note | 1.38 | 1/15/20 | 642 | ||||||||||||
610 | U.S. Treasury Note | 1.38 | 5/31/20 | 600 | ||||||||||||
1,120 | U.S. Treasury Note | 1.38 | 8/31/20 | 1,099 | ||||||||||||
650 | U.S. Treasury Note | 1.38 | 2/15/20 | 641 | ||||||||||||
1,000 | U.S. Treasury Note | 1.38 | 10/31/20 | 980 | ||||||||||||
1,230 | U.S. Treasury Note | 1.38 | 8/31/23 | 1,169 | ||||||||||||
890 | U.S. Treasury Note | 1.38 | 9/15/20 | 873 | ||||||||||||
1,178 | U.S. Treasury Note | 1.38 | 9/30/20 | 1,155 | ||||||||||||
900 | U.S. Treasury Note | 1.38 | 2/29/20 | 887 | ||||||||||||
900 | U.S. Treasury Note | 1.38 | 3/31/20 | 887 | ||||||||||||
1,470 | U.S. Treasury Note | 1.38 | 5/31/21 | 1,432 | ||||||||||||
965 | U.S. Treasury Note | 1.38 | 4/30/20 | 950 | ||||||||||||
1,250 | U.S. Treasury Note | 1.38 | 1/31/20 | 1,234 | ||||||||||||
1,425 | U.S. Treasury Note | 1.38 | 6/30/23 | 1,357 | ||||||||||||
1,235 | U.S. Treasury Note | 1.38 | 9/30/23 | 1,172 | ||||||||||||
1,800 | U.S. Treasury Note | 1.50 | 8/15/26 | 1,662 | ||||||||||||
1,115 | U.S. Treasury Note | 1.50 | 3/31/23 | 1,070 | ||||||||||||
615 | U.S. Treasury Note | 1.50 | 7/15/20 | 605 | ||||||||||||
905 | U.S. Treasury Note | 1.50 | 5/15/20 | 892 | ||||||||||||
1,350 | U.S. Treasury Note | 1.50 | 2/28/23 | 1,297 | ||||||||||||
1,245 | U.S. Treasury Note | 1.50 | 5/31/20 | 1,227 | ||||||||||||
655 | U.S. Treasury Note | 1.50 | 4/15/20 | 646 | ||||||||||||
605 | U.S. Treasury Note | 1.50 | 6/15/20 | 596 | ||||||||||||
680 | U.S. Treasury Note | 1.50 | 8/15/20 | 669 | ||||||||||||
1,100 | U.S. Treasury Note | 1.50 | 1/31/22 | 1,069 | ||||||||||||
650 | U.S. Treasury Note | 1.63 | 3/15/20 | 643 | ||||||||||||
1,770 | U.S. Treasury Note | 1.63 | 7/31/20 | 1,745 | ||||||||||||
1,200 | U.S. Treasury Note | 1.63 | 10/31/23 | 1,152 | ||||||||||||
900 | U.S. Treasury Note | 1.63 | 6/30/20 | 888 | ||||||||||||
2,580 | U.S. Treasury Note | 1.63 | 5/15/26 | 2,411 | ||||||||||||
1,200 | U.S. Treasury Note | 1.63 | 8/31/22 | 1,164 | ||||||||||||
1,780 | U.S. Treasury Note | 1.63 | 11/30/20 | 1,750 | ||||||||||||
370 | U.S. Treasury Note | 1.63 | 8/15/22 | 359 | ||||||||||||
877 | U.S. Treasury Note | 1.63 | 11/15/22 | 849 | ||||||||||||
1,000 | U.S. Treasury Note | 1.63 | 10/15/20 | 984 | ||||||||||||
2,080 | U.S. Treasury Note | 1.63 | 2/15/26 | 1,948 | ||||||||||||
1,250 | U.S. Treasury Note | 1.63 | 5/31/23 | 1,204 | ||||||||||||
810 | U.S. Treasury Note | 1.63 | 4/30/23 | 781 | ||||||||||||
910 | U.S. Treasury Note | 1.75 | 4/30/22 | 889 | ||||||||||||
1,315 | U.S. Treasury Note | 1.75 | 10/31/20 | 1,297 | ||||||||||||
850 | U.S. Treasury Note | 1.75 | 6/30/22 | 829 | ||||||||||||
820 | U.S. Treasury Note | 1.75 | 3/31/22 | 802 | ||||||||||||
1,395 | U.S. Treasury Note | 1.75 | 5/31/22 | 1,362 | ||||||||||||
1,140 | U.S. Treasury Note | 1.75 | 12/31/20 | 1,124 | ||||||||||||
915 | U.S. Treasury Note | 1.75 | 11/30/21 | 897 | ||||||||||||
700 | U.S. Treasury Note | 1.75 | 1/31/23 | 680 | ||||||||||||
750 | U.S. Treasury Note | 1.75 | 11/15/20 | 739 | ||||||||||||
1,603 | U.S. Treasury Note | 1.75 | 5/15/23 | 1,553 | ||||||||||||
710 | U.S. Treasury Note | 1.75 | 9/30/22 | 691 | ||||||||||||
450 | U.S. Treasury Note | 1.75 | 5/15/22 | 439 |
See accompanying notes to financial statements.
151
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,045 | U.S. Treasury Note | 1.75 | 2/28/22 | $ | 1,022 | ||||||||||
1,000 | U.S. Treasury Note | 1.88 | 1/31/22 | 982 | ||||||||||||
925 | U.S. Treasury Note | 1.88 | 2/28/22 | 908 | ||||||||||||
420 | U.S. Treasury Note | 1.88 | 6/30/20 | 416 | ||||||||||||
850 | U.S. Treasury Note | 1.88 | 10/31/22 | 831 | ||||||||||||
1,015 | U.S. Treasury Note | 1.88 | 8/31/24 | 980 | ||||||||||||
930 | U.S. Treasury Note | 1.88 | 7/31/22 | 911 | ||||||||||||
665 | U.S. Treasury Note | 1.88 | 5/31/22 | 652 | ||||||||||||
910 | U.S. Treasury Note | 1.88 | 9/30/22 | 890 | ||||||||||||
1,000 | U.S. Treasury Note | 1.88 | 4/30/22 | 981 | ||||||||||||
625 | U.S. Treasury Note | 1.88 | 11/30/21 | 615 | ||||||||||||
1,280 | U.S. Treasury Note | 1.88 | 12/15/20 | 1,264 | ||||||||||||
850 | U.S. Treasury Note | 1.88 | 3/31/22 | 834 | ||||||||||||
875 | U.S. Treasury Note | 1.88 | 8/31/22 | 856 | ||||||||||||
700 | U.S. Treasury Note | 2.00 | 5/31/21 | 692 | ||||||||||||
2,140 | U.S. Treasury Note | 2.00 | 11/15/26 | 2,044 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 12/31/21 | 986 | ||||||||||||
670 | U.S. Treasury Note | 2.00 | 1/15/21 | 663 | ||||||||||||
800 | U.S. Treasury Note | 2.00 | 9/30/20 | 793 | ||||||||||||
660 | U.S. Treasury Note | 2.00 | 7/31/20 | 654 | ||||||||||||
2,350 | U.S. Treasury Note | 2.00 | 11/30/22 | 2,307 | ||||||||||||
2,155 | U.S. Treasury Note | 2.00 | 2/15/25 | 2,085 | ||||||||||||
938 | U.S. Treasury Note | 2.00 | 2/15/22 | 925 | ||||||||||||
2,680 | U.S. Treasury Note | 2.00 | 8/15/25 | 2,584 | ||||||||||||
1,110 | U.S. Treasury Note | 2.00 | 11/15/21 | 1,096 | ||||||||||||
1,000 | U.S. Treasury Note | 2.00 | 10/31/21 | 987 | ||||||||||||
900 | U.S. Treasury Note | 2.00 | 8/31/21 | 889 | ||||||||||||
1,500 | U.S. Treasury Note | 2.00 | 2/28/21 | 1,484 | ||||||||||||
730 | U.S. Treasury Note | 2.00 | 4/30/24 | 711 | ||||||||||||
745 | U.S. Treasury Note | 2.00 | 5/31/24 | 725 | ||||||||||||
940 | U.S. Treasury Note | 2.00 | 6/30/24 | 914 | ||||||||||||
1,050 | U.S. Treasury Note | 2.00 | 11/30/20 | 1,040 | ||||||||||||
840 | U.S. Treasury Note | 2.00 | 7/31/22 | 826 | ||||||||||||
900 | U.S. Treasury Note | 2.00 | 10/31/22 | 884 | ||||||||||||
1,538 | U.S. Treasury Note | 2.00 | 2/15/23 | 1,508 | ||||||||||||
725 | U.S. Treasury Note | 2.00 | 1/31/20 | 720 | ||||||||||||
1,315 | U.S. Treasury Note | 2.13 | 9/30/24 | 1,285 | ||||||||||||
785 | U.S. Treasury Note | 2.13 | 9/30/21 | 777 | ||||||||||||
800 | U.S. Treasury Note | 2.13 | 12/31/21 | 792 | ||||||||||||
745 | U.S. Treasury Note | 2.13 | 11/30/24 | 727 | ||||||||||||
750 | U.S. Treasury Note | 2.13 | 1/31/21 | 744 | ||||||||||||
1,115 | U.S. Treasury Note | 2.13 | 7/31/24 | 1,091 | ||||||||||||
985 | U.S. Treasury Note | 2.13 | 2/29/24 | 966 | ||||||||||||
600 | U.S. Treasury Note | 2.13 | 8/31/20 | 596 | ||||||||||||
2,680 | U.S. Treasury Note | 2.13 | 12/31/22 | 2,641 | ||||||||||||
1,095 | U.S. Treasury Note | 2.13 | 8/15/21 | 1,085 | ||||||||||||
2,660 | U.S. Treasury Note | 2.13 | 5/15/25 | 2,588 | ||||||||||||
875 | U.S. Treasury Note | 2.13 | 3/31/24 | 858 | ||||||||||||
1,400 | U.S. Treasury Note | 2.13 | 11/30/23 | 1,375 | ||||||||||||
945 | U.S. Treasury Note | 2.13 | 6/30/22 | 934 | ||||||||||||
1,000 | U.S. Treasury Note | 2.13 | 6/30/21 | 992 | ||||||||||||
680 | U.S. Treasury Note | 2.25 | 12/31/24 | 668 | ||||||||||||
785 | U.S. Treasury Note | 2.25 | 7/31/21 | 781 | ||||||||||||
845 | U.S. Treasury Note | 2.25 | 3/31/20 | 842 |
See accompanying notes to financial statements.
152
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,845 | U.S. Treasury Note | 2.25 | 11/15/27 | $ | 1,784 | ||||||||||
1,015 | U.S. Treasury Note | 2.25 | 10/31/24 | 998 | ||||||||||||
1,900 | U.S. Treasury Note | 2.25 | 8/15/27 | 1,840 | ||||||||||||
1,555 | U.S. Treasury Note | 2.25 | 3/31/21 | 1,547 | ||||||||||||
1,000 | U.S. Treasury Note | 2.25 | 1/31/24 | 987 | ||||||||||||
1,955 | U.S. Treasury Note | 2.25 | 11/15/24 | 1,921 | ||||||||||||
1,700 | U.S. Treasury Note | 2.25 | 2/15/27 | 1,652 | ||||||||||||
1,605 | U.S. Treasury Note | 2.25 | 4/30/21 | 1,597 | ||||||||||||
950 | U.S. Treasury Note | 2.25 | 12/31/23 | 938 | ||||||||||||
1,875 | U.S. Treasury Note | 2.25 | 11/15/25 | 1,834 | ||||||||||||
735 | U.S. Treasury Note | 2.25 | 2/15/21 | 731 | ||||||||||||
790 | U.S. Treasury Note | 2.25 | 2/29/20 | 787 | ||||||||||||
700 | U.S. Treasury Note | 2.38 | 12/31/20 | 698 | ||||||||||||
1,715 | U.S. Treasury Note | 2.38 | 4/15/21 | 1,710 | ||||||||||||
1,750 | U.S. Treasury Note | 2.38 | 1/31/23 | 1,742 | ||||||||||||
900 | U.S. Treasury Note | 2.38 | 4/30/20 | 898 | ||||||||||||
790 | U.S. Treasury Note | 2.38 | 3/15/21 | 788 | ||||||||||||
2,560 | U.S. Treasury Note | 2.38 | 5/15/27 | 2,507 | ||||||||||||
2,675 | U.S. Treasury Note | 2.38 | 8/15/24 | 2,650 | ||||||||||||
1,500 | U.S. Treasury Note | 2.50 | 12/31/20 | 1,500 | ||||||||||||
940 | U.S. Treasury Note | 2.50 | 5/31/20 | 939 | ||||||||||||
2,105 | U.S. Treasury Note | 2.50 | 5/15/24 | 2,101 | ||||||||||||
995 | U.S. Treasury Note | 2.50 | 6/30/20 | 994 | ||||||||||||
990 | U.S. Treasury Note | 2.50 | 3/31/23 | 990 | ||||||||||||
700 | U.S. Treasury Note | 2.50 | 1/31/25 | 697 | ||||||||||||
1,370 | U.S. Treasury Note | 2.50 | 8/15/23 | 1,370 | ||||||||||||
700 | U.S. Treasury Note | 2.63 | 12/31/23 | 704 | ||||||||||||
1,060 | U.S. Treasury Note | 2.63 | 12/31/25 | 1,063 | ||||||||||||
1,377 | U.S. Treasury Note | 2.63 | 8/15/20 | 1,379 | ||||||||||||
2,353 | U.S. Treasury Note | 2.63 | 11/15/20 | 2,357 | ||||||||||||
1,260 | U.S. Treasury Note | 2.63 | 12/15/21 | 1,266 | ||||||||||||
1,020 | U.S. Treasury Note | 2.63 | 7/31/20 | 1,021 | ||||||||||||
1,050 | U.S. Treasury Note | 2.63 | 8/31/20 | 1,051 | ||||||||||||
935 | U.S. Treasury Note | 2.63 | 6/15/21 | 938 | ||||||||||||
750 | U.S. Treasury Note | 2.63 | 3/31/25 | 752 | ||||||||||||
885 | U.S. Treasury Note | 2.63 | 5/15/21 | 888 | ||||||||||||
985 | U.S. Treasury Note | 2.63 | 2/28/23 | 990 | ||||||||||||
1,500 | U.S. Treasury Note | 2.63 | 6/30/23 | 1,508 | ||||||||||||
960 | U.S. Treasury Note | 2.63 | 7/15/21 | 963 | ||||||||||||
1,010 | U.S. Treasury Note | 2.75 | 9/15/21 | 1,017 | ||||||||||||
905 | U.S. Treasury Note | 2.75 | 8/31/25 | 914 | ||||||||||||
1,250 | U.S. Treasury Note | 2.75 | 9/30/20 | 1,255 | ||||||||||||
1,050 | U.S. Treasury Note | 2.75 | 7/31/23 | 1,061 | ||||||||||||
1,075 | U.S. Treasury Note | 2.75 | 8/31/23 | 1,087 | ||||||||||||
1,320 | U.S. Treasury Note | 2.75 | 11/30/20 | 1,326 | ||||||||||||
990 | U.S. Treasury Note | 2.75 | 8/15/21 | 997 | ||||||||||||
875 | U.S. Treasury Note | 2.75 | 6/30/25 | 884 | ||||||||||||
800 | U.S. Treasury Note | 2.75 | 5/31/23 | 809 | ||||||||||||
2,567 | U.S. Treasury Note | 2.75 | 11/15/23 | 2,594 | ||||||||||||
980 | U.S. Treasury Note | 2.75 | 4/30/23 | 990 | ||||||||||||
885 | U.S. Treasury Note | 2.75 | 2/28/25 | 894 | ||||||||||||
2,120 | U.S. Treasury Note | 2.75 | 2/15/28 | 2,133 | ||||||||||||
2,165 | U.S. Treasury Note | 2.75 | 2/15/24 | 2,188 | ||||||||||||
1,000 | U.S. Treasury Note | 2.88 | 11/30/23 | 1,017 |
See accompanying notes to financial statements.
153
Table of Contents
HC CAPITAL TRUST
The U.S. Government Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations (continued) | ||||||||||||||||
$ | 1,085 | U.S. Treasury Note | 2.88 | 11/30/25 | $ | 1,105 | ||||||||||
1,255 | U.S. Treasury Note | 2.88 | 11/15/21 | 1,269 | ||||||||||||
1,300 | U.S. Treasury Note | 2.88 | 10/31/20 | 1,308 | ||||||||||||
1,020 | U.S. Treasury Note | 2.88 | 10/15/21 | 1,031 | ||||||||||||
1,105 | U.S. Treasury Note | 2.88 | 10/31/23 | 1,123 | ||||||||||||
815 | U.S. Treasury Note | 2.88 | 4/30/25 | 829 | ||||||||||||
1,920 | U.S. Treasury Note | 2.88 | 5/15/28 | 1,951 | ||||||||||||
1,005 | U.S. Treasury Note | 2.88 | 5/31/25 | 1,023 | ||||||||||||
3,055 | U.S. Treasury Note | 2.88 | 8/15/28 | 3,103 | ||||||||||||
1,500 | U.S. Treasury Note | 2.88 | 9/30/23 | 1,524 | ||||||||||||
875 | U.S. Treasury Note | 2.88 | 7/31/25 | 891 | ||||||||||||
895 | U.S. Treasury Note | 3.00 | 9/30/25 | 918 | ||||||||||||
880 | U.S. Treasury Note | 3.13 | 10/31/25 | 903 | ||||||||||||
1,185 | U.S. Treasury Note | 3.13 | 11/15/28 | 1,230 | ||||||||||||
700 | U.S. Treasury Note | 3.13 | 5/15/21 | 710 | ||||||||||||
840 | U.S. Treasury Note | 3.50 | 5/15/20 | 850 | ||||||||||||
1,632 | U.S. Treasury Note | 3.63 | 2/15/21 | 1,669 | ||||||||||||
1,760 | U.S. Treasury Note | 3.63 | 2/15/20 | 1,779 | ||||||||||||
400 | U.S. Treasury Note | 5.50 | 8/15/28 | 494 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 267,337 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollar — 0.05% | ||||||||||||||||
115 | AID-Israel (Sovereign Bond) | 5.50 | 9/18/23 | 129 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollar | 129 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Company — 0.20% | ||||||||||||||||
545,536 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (a) | 546 | ||||||||||||
|
| |||||||||||||||
Total Investment Company | 546 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $277,028) — 99.42% | 277,184 | |||||||||||||||
Other assets in excess of liabilities — 0.58% | 1,625 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 278,809 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2018. |
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The U.S. Government Fixed Income Securities Portfolio | Mellon Investments Corporation* | HC Capital Solutions | Total | |||||||||
U.S. Government Agency Securities | 3.29 | % | — | 3.29 | % | |||||||
U.S. Treasury Obligations | 95.88 | % | — | 95.88 | % | |||||||
Yankee Dollar | 0.05 | % | — | 0.05 | % | |||||||
Investment Company | — | 0.20 | % | 0.20 | % | |||||||
Other Assets (Liabilities) | 0.58 | % | 0.00 | % | 0.58 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 99.80 | % | 0.20 | % | 100.00 | % | ||||||
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
154
Table of Contents
HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Treasury Obligations — 98.46% | ||||||||||||||||
$ | 4,584 | U.S. Treasury Inflation Index Bond | 0.63 | 2/15/43 | $ | 4,018 | ||||||||||
7,712 | U.S. Treasury Inflation Index Bond | 0.75 | 2/15/45 | 6,896 | ||||||||||||
6,201 | U.S. Treasury Inflation Index Bond | 0.75 | 2/15/42 | 5,627 | ||||||||||||
11,008 | U.S. Treasury Inflation Index Bond | 0.75 | 7/15/28 | 10,776 | ||||||||||||
5,557 | U.S. Treasury Inflation Index Bond | 0.88 | 2/15/47 | 5,102 | ||||||||||||
5,442 | U.S. Treasury Inflation Index Bond | 1.00 | 2/15/48 | 5,159 | ||||||||||||
5,665 | U.S. Treasury Inflation Index Bond | 1.00 | 2/15/46 | 5,372 | ||||||||||||
6,922 | U.S. Treasury Inflation Index Bond | 1.38 | 2/15/44 | 7,148 | ||||||||||||
5,265 | U.S. Treasury Inflation Index Bond | 1.75 | 1/15/28 | 5,592 | ||||||||||||
6,536 | U.S. Treasury Inflation Index Bond | 2.00 | 1/15/26 | 6,976 | ||||||||||||
3,530 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/41 | 4,169 | ||||||||||||
2,771 | U.S. Treasury Inflation Index Bond | 2.13 | 2/15/40 | 3,258 | ||||||||||||
5,259 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/27 | 5,806 | ||||||||||||
8,973 | U.S. Treasury Inflation Index Bond | 2.38 | 1/15/25 | 9,703 | ||||||||||||
5,082 | U.S. Treasury Inflation Index Bond | 2.50 | 1/15/29 | 5,785 | ||||||||||||
2,048 | U.S. Treasury Inflation Index Bond | 3.38 | 4/15/32 | 2,627 | ||||||||||||
4,433 | U.S. Treasury Inflation Index Bond | 3.63 | 4/15/28 | 5,441 | ||||||||||||
5,392 | U.S. Treasury Inflation Index Bond | 3.88 | 4/15/29 | 6,859 | ||||||||||||
13,530 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/22 | 13,134 | ||||||||||||
13,954 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/22 | 13,554 | ||||||||||||
14,019 | U.S. Treasury Inflation Index Note | 0.13 | 1/15/23 | 13,541 | ||||||||||||
13,632 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/24 | 13,073 | ||||||||||||
11,528 | U.S. Treasury Inflation Index Note | 0.13 | 7/15/26 | 10,824 | ||||||||||||
14,282 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/22 | 13,817 | ||||||||||||
14,657 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/21 | 14,253 | ||||||||||||
16,859 | U.S. Treasury Inflation Index Note | 0.13 | 4/15/20 | 16,480 | ||||||||||||
13,666 | U.S. Treasury Inflation Index Note | 0.25 | 1/15/25 | 13,087 | ||||||||||||
13,903 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/23 | 13,595 | ||||||||||||
11,440 | U.S. Treasury Inflation Index Note | 0.38 | 1/15/27 | 10,868 | ||||||||||||
11,304 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/27 | 10,725 | ||||||||||||
13,651 | U.S. Treasury Inflation Index Note | 0.38 | 7/15/25 | 13,162 | ||||||||||||
11,212 | U.S. Treasury Inflation Index Note | 0.50 | 1/15/28 | 10,701 | ||||||||||||
13,868 | U.S. Treasury Inflation Index Note | 0.63 | 1/15/24 | 13,652 | ||||||||||||
13,988 | U.S. Treasury Inflation Index Note | 0.63 | 4/15/23 | 13,756 | ||||||||||||
12,291 | U.S. Treasury Inflation Index Note | 0.63 | 1/15/26 | 11,965 | ||||||||||||
12,257 | U.S. Treasury Inflation Index Note | 0.63 | 7/15/21 | 12,123 | ||||||||||||
11,547 | U.S. Treasury Inflation Index Note | 1.13 | 1/15/21 | 11,495 | ||||||||||||
10,097 | U.S. Treasury Inflation Index Note | 1.25 | 7/15/20 | 10,076 | ||||||||||||
6,527 | U.S. Treasury Inflation Index Note | 1.38 | 1/15/20 | 6,485 | ||||||||||||
|
| |||||||||||||||
Total U.S. Treasury Obligations | 366,680 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Company — 1.46% | ||||||||||||||||
5,434,699 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (a) | 5,435 | ||||||||||||
|
| |||||||||||||||
Total Investment Company | 5,435 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $380,720) — 99.92% | 372,115 | |||||||||||||||
Other assets in excess of liabilities — 0.08% | 294 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 372,409 | ||||||||||||||
|
|
(a) The | rate disclosed is the rate in effect on December 31, 2018. |
See accompanying notes to financial statements.
155
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HC CAPITAL TRUST
The Inflation Protected Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Inflation Protected Securities Portfolio | Mellon Investments Corporation* | HC Capital Solutions | Total | |||||||||
U.S. Treasury Obligations | 98.46 | % | — | 98.46 | % | |||||||
Investment Company | 0.01 | % | 1.45 | % | 1.46 | % | ||||||
Other Assets (Liabilities) | 0.30 | % | -0.22 | % | 0.08 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 98.77 | % | 1.23 | % | 100.00 | % | ||||||
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
156
Table of Contents
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds — 81.43% | ||||||||||||||||
$ | 2,162 | Abbott Laboratories (Health Care Equipment & Supplies), Callable 8/30/26 @ 100.00 | 3.75 | 11/30/26 | $ | 2,137 | ||||||||||
989 | AbbVie, Inc. (Biotechnology) | 4.40 | 11/6/42 | 874 | ||||||||||||
2,205 | AbbVie, Inc. (Biotechnology), Callable 11/14/34 @ 100.00 | 4.50 | 5/14/35 | 2,042 | ||||||||||||
530 | Alabama Power Co., Series B (Electric Utilities), Callable 6/1/47 @ 100.00 | 3.70 | 12/1/47 | 485 | ||||||||||||
155 | Alabama Power Co. (Electric Utilities), Callable 2/15/44 @ 100.00 | 4.15 | 8/15/44 | 152 | ||||||||||||
3,375 | American Express Co. (Consumer Finance), Callable 7/1/22 @ 100.00 | 2.50 | 8/1/22 | 3,257 | ||||||||||||
180 | American Express Co. (Consumer Finance), Callable 1/27/23 @ 100.00 | 3.40 | 2/27/23 | 178 | ||||||||||||
3,990 | Ameriprise Financial, Inc. (Capital Markets) | 3.70 | 10/15/24 | 3,989 | ||||||||||||
540 | Ameriprise Financial, Inc. (Capital Markets) | 4.00 | 10/15/23 | 555 | ||||||||||||
1,715 | Amgen, Inc. (Biotechnology), Callable 4/11/22 @ 100.00 | 2.65 | 5/11/22 | 1,676 | ||||||||||||
2,235 | Amgen, Inc. (Biotechnology), Callable 2/1/25 @ 100.00 | 3.13 | 5/1/25 | 2,139 | ||||||||||||
275 | Amgen, Inc. (Biotechnology), Callable 5/15/41 @ 100.00 | 5.15 | 11/15/41 | 284 | ||||||||||||
1,408 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), Callable 9/5/26 @ 100.00 | 3.50 | 12/5/26 | 1,348 | ||||||||||||
2,630 | Analog Devices, Inc. (Semiconductors & Semiconductor Equipment), Callable 9/15/25 @ 100.00 | 3.90 | 12/15/25 | 2,583 | ||||||||||||
4,533 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 11/1/25 @ 100.00 | 3.65 | 2/1/26 | 4,284 | ||||||||||||
1,066 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 8/1/35 @ 100.00 | 4.70 | 2/1/36 | 993 | ||||||||||||
1,910 | Anheuser-Busch Companies, LLC / Anheuser-Busch InBev Worldwide, Inc. (Beverages), Callable 8/1/45 @ 100.00 | 4.90 | 2/1/46 | 1,773 | ||||||||||||
1,730 | Anthem, Inc. (Health Care Providers & Services) | 3.13 | 5/15/22 | 1,705 | ||||||||||||
485 | Anthem, Inc. (Health Care Providers & Services) | 3.30 | 1/15/23 | 477 | ||||||||||||
1,095 | Anthem, Inc. (Health Care Providers & Services), Callable 9/1/27 @ 100.00 | 3.65 | 12/1/27 | 1,047 | ||||||||||||
1,035 | Anthem, Inc. (Health Care Providers & Services), Callable 5/15/21 @ 100.00 | 3.70 | 8/15/21 | 1,042 | ||||||||||||
790 | Anthem, Inc. (Health Care Providers & Services) | 4.63 | 5/15/42 | 762 | ||||||||||||
750 | Archer-Daniels-Midland Co., Class C (Food Products) | 4.02 | 4/16/43 | 708 | ||||||||||||
1,065 | AT&T, Inc. (Diversified Telecommunication Services) | 3.80 | 3/15/22 | 1,070 | ||||||||||||
4,610 | AT&T, Inc. (Diversified Telecommunication Services), Callable 1/1/24 @ 100.00 | 4.45 | 4/1/24 | 4,686 | ||||||||||||
1,730 | AT&T, Inc. (Diversified Telecommunication Services) | 5.35 | 9/1/40 | 1,685 | ||||||||||||
585 | AT&T, Inc. (Diversified Telecommunication Services) | 5.55 | 8/15/41 | 574 | ||||||||||||
265 | Atmos Energy Corp. (Gas Utilities), Callable 4/15/44 @ 100.00 | 4.13 | 10/15/44 | 256 | ||||||||||||
9,553 | Bank of America Corp., MTN (Banks) | 3.88 | 8/1/25 | 9,454 | ||||||||||||
1,358 | Bank One Corp. (Banks) | 8.00 | 4/29/27 | 1,671 | ||||||||||||
1,875 | Berkshire Hathaway, Inc. (Multi-Utilities), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 1,875 | ||||||||||||
300 | Bunge Limited Finance Corp. (Food Products), Callable 8/25/22 @ 100.00 | 3.00 | 9/25/22 | 287 | ||||||||||||
1,510 | Bunge Limited Finance Corp. (Food Products), Callable 5/15/26 @ 100.00 | 3.25 | 8/15/26 | 1,323 | ||||||||||||
1,335 | Capital One Financial Corp. (Consumer Finance), Callable 3/30/21 @ 100.00 | 3.45 | 4/30/21 | 1,332 | ||||||||||||
4,800 | Capital One Financial Corp. (Consumer Finance) | 3.50 | 6/15/23 | 4,715 | ||||||||||||
1,708 | Capital One Financial Corp. (Consumer Finance) | 4.75 | 7/15/21 | 1,752 | ||||||||||||
600 | Cisco Systems, Inc. (Communications Equipment) | 5.50 | 1/15/40 | 709 | ||||||||||||
555 | Citigroup, Inc. (Banks), Callable 11/8/21 @ 100.00 | 2.90 | 12/8/21 | 546 | ||||||||||||
7,220 | Citigroup, Inc. (Banks) | 3.40 | 5/1/26 | 6,795 | ||||||||||||
695 | Citigroup, Inc. (Banks) | 4.50 | 1/14/22 | 710 | ||||||||||||
500 | Comcast Corp. (Media), Callable 9/1/37 @ 100.00 | 3.90 | 3/1/38 | 463 | ||||||||||||
50 | Comcast Corp. (Media) | 4.65 | 7/15/42 | 50 | ||||||||||||
2,185 | Comcast Corp. (Media) | 4.75 | 3/1/44 | 2,191 | ||||||||||||
2,220 | ConocoPhillips (Oil, Gas & Consumable Fuels) | 6.50 | 2/1/39 | 2,760 | ||||||||||||
175 | Consolidated Edison Company of New York, Inc., Series2008-B (Multi-Utilities) | 6.75 | 4/1/38 | 224 | ||||||||||||
1,650 | Constellation Brands, Inc. (Beverages) | 4.75 | 11/15/24 | 1,702 | ||||||||||||
765 | Constellation Brands, Inc. (Beverages) | 4.75 | 12/1/25 | 782 | ||||||||||||
2,315 | CSX Corp. (Road & Rail) | 6.22 | 4/30/40 | 2,749 | ||||||||||||
1,454 | CVS Health Corp. (Health Care Providers & Services), Callable 9/1/22 @ 100.00 | 2.75 | 12/1/22 | 1,399 | ||||||||||||
795 | CVS Health Corp. (Health Care Providers & Services), Callable 2/9/23 @ 100.00 | 3.70 | 3/9/23 | 786 |
See accompanying notes to financial statements.
157
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 6,130 | CVS Health Corp. (Health Care Providers & Services), Callable 12/25/27 @ 100.00 | 4.30 | 3/25/28 | $ | 6,003 | ||||||||||
980 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 2/15/22 @ 100.00 | 3.25 | 5/15/22 | 955 | ||||||||||||
925 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 4/15/21 @ 100.00 | 4.00 | 7/15/21 | 926 | ||||||||||||
1,765 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 1/15/41 @ 100.00 | 5.60 | 7/15/41 | 1,675 | ||||||||||||
315 | Devon Energy Corp. (Oil, Gas & Consumable Fuels), Callable 9/15/25 @ 100.00 | 5.85 | 12/15/25 | 334 | ||||||||||||
2,445 | Digital Realty Trust LP (Equity Real Estate Investment Trusts), Callable 1/1/23 @ 100.00 | 2.75 | 2/1/23 | 2,336 | ||||||||||||
1,830 | Dominion Gas Holdings LLC (Multi-Utilities), Callable 9/15/24 @ 100.00 | 3.60 | 12/15/24 | 1,818 | ||||||||||||
200 | Duke Energy Carolinas LLC (Electric Utilities), Callable 6/15/41 @ 100.00 | 4.25 | 12/15/41 | 201 | ||||||||||||
635 | Duke Energy Corp. (Electric Utilities), Callable 6/1/26 @ 100.00 | 2.65 | 9/1/26 | 578 | ||||||||||||
965 | Duke Energy Corp. (Electric Utilities), Callable 1/15/24 @ 100.00 | 3.75 | 4/15/24 | 966 | ||||||||||||
660 | Duke Energy Progress LLC (Electric Utilities), Callable 2/15/45 @ 100.00 | 4.20 | 8/15/45 | 650 | ||||||||||||
1,495 | Energy Transfer Partners LP (Oil, Gas & Consumable Fuels), Callable 3/15/28 @ 100.00 | 4.95 | 6/15/28 | 1,466 | ||||||||||||
1,000 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 11/15/24 @ 100.00 | 3.75 | 2/15/25 | 990 | ||||||||||||
2,782 | Enterprise Products Operating LLC (Oil, Gas & Consumable Fuels), Callable 9/15/43 @ 100.00 | 4.85 | 3/15/44 | 2,701 | ||||||||||||
995 | FedEx Corp. (Air Freight & Logistics) | 4.90 | 1/15/34 | 1,017 | ||||||||||||
1,520 | Fiserv, Inc. (IT Services), Callable 7/1/22 @ 100.00 | 3.50 | 10/1/22 | 1,509 | ||||||||||||
1,195 | Fiserv, Inc. (IT Services), Callable 3/1/25 @ 100.00 | 3.85 | 6/1/25 | 1,185 | ||||||||||||
1,560 | General Motors Financial Co. (Consumer Finance), Callable 2/1/21 @ 100.00 | 4.20 | 3/1/21 | 1,559 | ||||||||||||
1,225 | Gilead Sciences, Inc. (Biotechnology), Callable 8/1/44 @ 100.00 | 4.50 | 2/1/45 | 1,180 | ||||||||||||
393 | GlaxoSmithKline PLC (Diversified Financial Services) | 6.38 | 5/15/38 | 494 | ||||||||||||
3,555 | Goldman Sachs Group, Inc. (Capital Markets), Callable 10/23/24 @ 100.00 | 3.50 | 1/23/25 | 3,371 | ||||||||||||
2,420 | Goldman Sachs Group, Inc. (Capital Markets) | 5.25 | 7/27/21 | 2,512 | ||||||||||||
200 | Goldman Sachs Group, Inc. (Capital Markets) | 5.75 | 1/24/22 | 209 | ||||||||||||
1,485 | Home Depot, Inc. (The) (Specialty Retail), Callable 3/15/40 @ 100.00 | 5.40 | 9/15/40 | 1,702 | ||||||||||||
411 | International Paper Co. (Containers & Packaging), Callable 11/15/21 @ 100.00 | 4.75 | 2/15/22 | 429 | ||||||||||||
755 | International Paper Co. (Containers & Packaging), Callable 5/15/41 @ 100.00 | 6.00 | 11/15/41 | 796 | ||||||||||||
480 | Interpublic Group of Companies, Inc. (Media) | 4.00 | 3/15/22 | 484 | ||||||||||||
2,130 | Interpublic Group of Companies, Inc. (Media) | 4.20 | 4/15/24 | 2,129 | ||||||||||||
2,870 | JPMorgan Chase & Co. (Banks), Callable 10/23/24 @ 100.00 | 3.13 | 1/23/25 | 2,735 | ||||||||||||
1,736 | JPMorgan Chase & Co. (Banks) | 3.63 | 5/13/24 | 1,724 | ||||||||||||
1,360 | JPMorgan Chase & Co. (Banks) | 4.35 | 8/15/21 | 1,392 | ||||||||||||
1,500 | JPMorgan Chase & Co. (Banks) | 4.50 | 1/24/22 | 1,546 | ||||||||||||
1,000 | Lincoln National Corp. (Insurance), Callable 9/15/26 @ 100.00 | 3.63 | 12/12/26 | 969 | ||||||||||||
85 | Lincoln National Corp. (Insurance) | 4.85 | 6/24/21 | 88 | ||||||||||||
975 | Lincoln National Corp. (Insurance) | 7.00 | 6/15/40 | 1,227 | ||||||||||||
1,305 | Lockheed Martin Corp. (Aerospace & Defense), Callable 11/15/35 @ 100.00 | 4.50 | 5/15/36 | 1,348 | ||||||||||||
295 | LYB International Finance BV (Chemicals), Callable 9/15/43 @ 100.00 | 4.88 | 3/15/44 | 268 | ||||||||||||
455 | Martin Marietta Materials, Inc. (Construction Materials), Callable 3/1/27 @ 100.00 | 3.45 | 6/1/27 | 421 | ||||||||||||
1,380 | Martin Marietta Materials, Inc. (Construction Materials), Callable 4/2/24 @ 100.00 | 4.25 | 7/2/24 | 1,396 | ||||||||||||
585 | Medtronic, Inc. (Health Care Equipment & Supplies) | 4.63 | 3/15/45 | 614 | ||||||||||||
495 | Medtronic, Inc. (Health Care Equipment & Supplies), Callable 9/15/43 @ 100.00 | 4.63 | 3/15/44 | 514 | ||||||||||||
670 | MetLife, Inc. (Insurance) | 3.00 | 3/1/25 | 642 | ||||||||||||
745 | MetLife, Inc. (Insurance) | 5.70 | 6/15/35 | 839 | ||||||||||||
3,475 | Microsoft Corp. (Software), Callable 8/6/56 @ 100.00 | 4.50 | 2/6/57 | 3,709 | ||||||||||||
2,679 | MidAmerican Energy Holdings Co. (Multi-Utilities) | 6.13 | 4/1/36 | 3,198 | ||||||||||||
2,695 | Morgan Stanley (Capital Markets) | 2.63 | 11/17/21 | 2,630 | ||||||||||||
3,940 | Morgan Stanley (Capital Markets) | 3.13 | 1/23/23 | 3,847 | ||||||||||||
3,635 | National Rural Utilities Cooperative Finance Corp. (Diversified Financial Services), Callable 12/7/23 @ 100.00 | 2.95 | 2/7/24 | 3,577 | ||||||||||||
2,625 | Nucor Corp. (Metals & Mining), Callable 6/15/22 @ 100.00 | 4.13 | 9/15/22 | 2,699 | ||||||||||||
1,074 | Nucor Corp. (Metals & Mining), Callable 2/1/43 @ 100.00 | 5.20 | 8/1/43 | 1,140 | ||||||||||||
2,132 | NVIDIA Corp. (Semiconductors & Semiconductor Equipment), Callable 6/16/26 @ 100.00 | 3.20 | 9/16/26 | 2,024 | ||||||||||||
380 | Oracle Corp. (Software), Callable 11/15/44 @ 100.00 | 4.13 | 5/15/45 | 361 |
See accompanying notes to financial statements.
158
Table of Contents
HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bonds (continued) | ||||||||||||||||
$ | 2,450 | Oracle Corp. (Software) | 5.38 | 7/15/40 | $ | 2,710 | ||||||||||
1,050 | Pfizer, Inc. (Pharmaceuticals), Callable 3/15/38 @ 100.00 | 4.10 | 9/15/38 | 1,053 | ||||||||||||
250 | Philip Morris International, Inc. (Tobacco) | 3.25 | 11/10/24 | 241 | ||||||||||||
800 | Philip Morris International, Inc. (Tobacco) | 4.50 | 3/20/42 | 760 | ||||||||||||
279 | Procter & Gamble Co. (The) (Household Products) | 9.36 | 1/1/21 | 295 | ||||||||||||
1,457 | Progress Energy, Inc. (Electric Utilities) | 6.00 | 12/1/39 | 1,713 | ||||||||||||
440 | Prudential Financial, Inc., MTN (Insurance), Callable 12/27/27 @ 100.00 | 3.88 | 3/27/28 | 442 | ||||||||||||
152 | Prudential Financial, Inc. (Insurance) | 6.63 | 6/21/40 | 186 | ||||||||||||
265 | Public Service Electric & Gas Co. (Electric Utilities), Callable 3/1/42 @ 100.00 | 3.65 | �� | 9/1/42 | 247 | |||||||||||
1,185 | RELX Capital, Inc. (Professional Services), Callable 7/15/22 @ 100.00 | 3.13 | 10/15/22 | 1,163 | ||||||||||||
2,005 | RELX Capital, Inc. (Professional Services), Callable 2/16/23 @ 100.00 | 3.50 | 3/16/23 | 1,989 | ||||||||||||
785 | Rockwell Collins, Inc. (Aerospace & Defense), Callable 1/15/24 @ 100.00 | 3.20 | 3/15/24 | 756 | ||||||||||||
1,244 | Rockwell Collins, Inc. (Aerospace & Defense), Callable 12/15/26 @ 100.00 | 3.50 | 3/15/27 | 1,168 | ||||||||||||
215 | Roper Industries, Inc. (Industrial Conglomerates), Callable 8/15/22 @ 100.00 | 3.13 | 11/15/22 | 211 | ||||||||||||
1,950 | Roper Technologies, Inc. (Industrial Conglomerates), Callable 9/15/25 @ 100.00 | 3.85 | 12/15/25 | 1,913 | ||||||||||||
1,185 | Ryder System, Inc., MTN (Road & Rail), Callable 8/1/21 @ 100.00 | 2.25 | 9/1/21 | 1,146 | ||||||||||||
1,405 | Ryder System, Inc. (Road & Rail), Callable 2/1/22 @ 100.00 | 2.80 | 3/1/22 | 1,369 | ||||||||||||
735 | Ryder System, Inc. (Road & Rail), Callable 10/15/21 @ 100.00 | 3.45 | 11/15/21 | 734 | ||||||||||||
375 | Sherwin-Williams Co. (The) (Chemicals), Callable 5/1/25 @ 100.00 | 3.45 | 8/1/25 | 358 | ||||||||||||
385 | Southern Company Gas Capital Corp. (Electric Utilities), Callable 8/1/23 @ 100.00 | 2.45 | 10/1/23 | 367 | ||||||||||||
695 | Southwest Airlines Co. (Airlines), Callable 8/15/26 @ 100.00 | 3.00 | 11/15/26 | 649 | ||||||||||||
1,076 | Southwest Airlines Co., Series2017-1 (Airlines) | 6.15 | 2/1/24 | 1,130 | ||||||||||||
3,371 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 10/15/22 @ 100.00 | 3.45 | 1/15/23 | 3,259 | ||||||||||||
1,225 | Sunoco Logistics Partners LP (Oil, Gas & Consumable Fuels), Callable 7/15/42 @ 100.00 | 4.95 | 1/15/43 | 1,026 | ||||||||||||
2,101 | SunTrust Banks, Inc. (Banks), Callable 12/27/21 @ 100.00 | 2.70 | 1/27/22 | 2,049 | ||||||||||||
843 | The Home Depot, Inc. (Specialty Retail) | 5.88 | 12/16/36 | 1,011 | ||||||||||||
2,220 | The Sherwin-Williams Co. (Chemicals), Callable 4/1/24 @ 100.00 | 3.13 | 6/1/24 | 2,120 | ||||||||||||
1,671 | The Travelers Companies, Inc. (Insurance) | 6.25 | 6/15/37 | 2,073 | ||||||||||||
1,000 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 2/15/23 @ 100.00 | 3.00 | 4/15/23 | 973 | ||||||||||||
1,535 | Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services), Callable 11/1/23 @ 100.00 | 4.15 | 2/1/24 | 1,555 | ||||||||||||
840 | Twenty-First Century Fox, Inc. (Media), Callable 3/15/44 @ 100.00 | 4.75 | 9/15/44 | 896 | ||||||||||||
1,848 | Twenty-First Century Fox, Inc. (Media) | 6.20 | 12/15/34 | 2,249 | ||||||||||||
1,500 | Union Pacific Corp. (Road & Rail), Callable 6/10/28 @ 100.00 | 3.95 | 9/10/28 | 1,499 | ||||||||||||
135 | United Parcel Service, Inc. (Air Freight & Logistics) | 6.20 | 1/15/38 | 165 | ||||||||||||
674 | United Technologies Corp. (Aerospace & Defense) | 4.50 | 6/1/42 | 636 | ||||||||||||
810 | UnitedHealth Group, Inc. (Health Care Providers & Services), Callable 5/15/41 @ 100.00 | 4.63 | 11/15/41 | 847 | ||||||||||||
835 | UnitedHealth Group, Inc. (Health Care Providers & Services) | 4.75 | 7/15/45 | 885 | ||||||||||||
865 | Valero Energy Corp. (Oil, Gas & Consumable Fuels) | 6.63 | 6/15/37 | 949 | ||||||||||||
270 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 5/15/22 @ 100.00 | 3.25 | 8/15/22 | 267 | ||||||||||||
1,300 | Ventas Realty LP (Equity Real Estate Investment Trusts), Callable 11/1/24 @ 100.00 | 3.50 | 2/1/25 | 1,245 | ||||||||||||
1,622 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.01 | 8/21/54 | 1,570 | ||||||||||||
5,335 | Verizon Communications, Inc. (Diversified Telecommunication Services) | 5.15 | 9/15/23 | 5,680 | ||||||||||||
820 | Virginia Electric & Power Co. (Electric Utilities), Callable 2/15/43 @ 100.00 | 4.65 | 8/15/43 | 853 | ||||||||||||
700 | Walmart, Inc. (Food & Staples Retailing) | 5.63 | 4/1/40 | 841 | ||||||||||||
1,525 | Wells Fargo & Co., MTN (Banks) | 2.63 | 7/22/22 | 1,470 | ||||||||||||
3,995 | Wells Fargo & Co. (Banks) | 3.00 | 2/19/25 | 3,767 | ||||||||||||
1,848 | Wells Fargo & Co., MTN (Banks) | 3.30 | 9/9/24 | 1,788 | ||||||||||||
1,110 | Wells Fargo & Co., MTN (Banks) | 4.60 | 4/1/21 | 1,137 | ||||||||||||
1,375 | WestRock Co. (Containers & Packaging) | 4.90 | 3/1/22 | 1,415 | ||||||||||||
340 | Westvaco Corp. (Containers & Packaging) | 8.20 | 1/15/30 | 432 | ||||||||||||
931 | XTO Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.75 | 8/1/37 | 1,234 | ||||||||||||
|
| |||||||||||||||
Total Corporate Bonds | 230,610 | |||||||||||||||
|
|
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Yankee Dollars — 15.74% | ||||||||||||||||
$ | 600 | America Movil SAB de CV (Wireless Telecommunication Services) | 5.00 | 3/30/20 | $ | 610 | ||||||||||
850 | America Movil SAB de CV (Wireless Telecommunication Services) | 6.13 | 11/15/37 | 989 | ||||||||||||
1,007 | Aptiv PLC (Auto Components), Callable 10/15/25 @ 100.00 | 4.25 | 1/15/26 | 980 | ||||||||||||
1,800 | Barclays PLC (Banks), Callable 1/10/22 @ 100.00 | 3.68 | 1/10/23 | 1,729 | ||||||||||||
480 | BHP Billiton Ltd. (Metals & Mining) | 5.00 | 9/30/43 | 523 | ||||||||||||
2,094 | BP Capital Markets PLC (Diversified Financial Services) | 3.54 | 11/4/24 | 2,075 | ||||||||||||
1,246 | British Telecommunications PLC (Diversified Telecommunication Services) | 9.63 | 12/15/30 | 1,685 | ||||||||||||
1,305 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 12/15/22 @ 100.00 | 2.95 | 1/15/23 | 1,247 | ||||||||||||
1,165 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 8/15/21 @ 100.00 | 3.45 | 11/15/21 | 1,157 | ||||||||||||
850 | Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels), Callable 3/1/27 @ 100.00 | 3.85 | 6/1/27 | 802 | ||||||||||||
350 | Canadian Pacific Railway Co. (Road & Rail), Callable 11/1/24 @ 100.00 | 2.90 | 2/1/25 | 335 | ||||||||||||
2,390 | Canadian Pacific Railway Co. (Road & Rail), Callable 12/15/22 @ 100.00 | 4.45 | 3/15/23 | 2,487 | ||||||||||||
1,000 | Coca-Cola European Partners PLC (Beverages), Callable 6/1/21 @ 100.00 | 4.50 | 9/1/21 | 1,020 | ||||||||||||
1,106 | Deutsche Telekom International Finance BV (Diversified Telecommunication Services) | 8.75 | (a) | 6/15/30 | 1,443 | |||||||||||
1,285 | HSBC Holdings PLC (Banks) | 4.00 | 3/30/22 | 1,302 | ||||||||||||
500 | HSBC Holdings PLC (Banks) | 4.88 | 1/14/22 | 517 | ||||||||||||
2,985 | HSBC Holdings PLC (Banks) | 5.10 | 4/5/21 | 3,088 | ||||||||||||
500 | HSBC Holdings PLC (Banks) | 6.80 | 6/1/38 | 591 | ||||||||||||
1,430 | Iberdrola International BV (Electric Utilities) | 5.81 | 3/15/25 | 1,586 | ||||||||||||
1,795 | Iberdrola International BV (Electric Utilities) | 6.75 | 7/15/36 | 2,133 | ||||||||||||
525 | LYB International Finance II BV (Chemicals), Callable 12/2/26 @ 100.00 | 3.50 | 3/2/27 | 478 | ||||||||||||
405 | LyondellBasell Industries N.V. (Chemicals) | 4.00 | 7/15/23 | 407 | ||||||||||||
321 | LyondellBasell Industries N.V. (Chemicals), Callable 8/26/54 @ 100.00 | 4.63 | 2/26/55 | 271 | ||||||||||||
1,600 | LyondellBasell Industries N.V. (Chemicals), Callable 1/15/24 @ 100.00 | 5.75 | 4/15/24 | 1,712 | ||||||||||||
1,143 | Orange SA (Diversified Telecommunication Services) | 9.00 | 3/1/31 | 1,584 | ||||||||||||
893 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 4.13 | 5/11/35 | 895 | ||||||||||||
1,925 | Shell International Finance BV (Oil, Gas & Consumable Fuels) | 6.38 | 12/15/38 | 2,442 | ||||||||||||
1,145 | Statoil ASA (Oil, Gas & Consumable Fuels) | 5.10 | 8/17/40 | 1,275 | ||||||||||||
831 | Statoil ASA (Oil, Gas & Consumable Fuels) | 7.75 | 6/15/23 | 983 | ||||||||||||
513 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 5.13 | 4/27/20 | 524 | ||||||||||||
540 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 5.46 | 2/16/21 | 560 | ||||||||||||
745 | Telefonica Emisiones SAU (Diversified Telecommunication Services) | 7.05 | 6/20/36 | 849 | ||||||||||||
685 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 2.50 | 8/1/22 | 657 | ||||||||||||
2,610 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels), Callable 2/15/28 @ 100.00 | 4.25 | 5/15/28 | 2,587 | ||||||||||||
1,040 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.10 | 6/1/40 | 1,154 | ||||||||||||
451 | TransCanada PipeLines Ltd. (Oil, Gas & Consumable Fuels) | 6.20 | 10/15/37 | 491 | ||||||||||||
440 | Vodafone Group PLC (Wireless Telecommunication Services) | 5.00 | 5/30/38 | 413 | ||||||||||||
946 | Vodafone Group PLC (Wireless Telecommunication Services) | 6.15 | 2/27/37 | 992 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 44,573 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Companies — 1.81% | ||||||||||||||||
3,639,204 | SSgA U.S. Government Money Market Fund, Premier Class | 2.25 | (b) | 3,639 | ||||||||||||
1,474,911 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (b) | 1,475 | ||||||||||||
|
| |||||||||||||||
Total Investment Companies | 5,114 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $289,544) — 98.98% | 280,297 | |||||||||||||||
Other assets in excess of liabilities — 1.02% | 2,900 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 283,197 | ||||||||||||||
|
|
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The U.S. Corporate Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
(a) | Step Bond: Coupon rate is set for an initial period and then increased to a higher coupon rate at a specified date. The rate shown is the rate in effect at December 31, 2018. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
MTN — Medium Term Note
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The U.S. Corporate Fixed Income Securities Portfolio | Agincourt Capital Management, LLC | HC Capital Solutions | Total | |||||||||
Corporate Bonds | 81.43 | % | — | 81.43 | % | |||||||
Yankee Dollars | 15.74 | % | — | 15.74 | % | |||||||
Investment Companies | 1.29 | % | 0.52 | % | 1.81 | % | ||||||
Other Assets (Liabilities) | 1.39 | % | -0.37 | % | 1.02 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 99.85 | % | 0.15 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Asset Backed Securities — 1.70% | ||||||||||||||||
$ | 200 | Ally Auto Receivables Trust, Series2018-3, Class A3, Callable 2/15/22 @ 100.00 | 3.00 | 1/17/23 | $ | 200 | ||||||||||
200 | American Express Credit Account Master Trust, Series2017-1, Class A | 1.93 | 9/15/22 | 198 | ||||||||||||
200 | BMW Vehicle Owner Trust, Series2016-A, Class A4, Callable 5/25/20 @ 100.00 | 1.37 | 12/27/22 | 197 | ||||||||||||
200 | BMW Vehicle Owner Trust, Series2018-A, Class A4, Callable 11/25/21 @ 100.00 | 2.51 | 6/25/24 | 197 | ||||||||||||
150 | Capital One Multi-Asset Execution Trust, Series2017-A4, Class A4 | 1.99 | 7/17/23 | 148 | ||||||||||||
125 | Capital One Multi-Asset Execution Trust, Series2017-A1, Class A1 | 2.00 | 1/17/23 | 124 | ||||||||||||
200 | Capital One Multi-Asset Execution Trust,Series 2017-A3, Class A3 | 2.43 | 1/15/25 | 198 | ||||||||||||
300 | CarMax Auto Owner Trust, Series2017-2, Class A4, Callable 6/15/21 @ 100.00 | 2.25 | 9/15/22 | 295 | ||||||||||||
260 | CarMax Auto Owner Trust, Series2018-2, Class A3, Callable 3/15/22 @ 100.00 | 2.98 | 1/17/23 | 262 | ||||||||||||
270 | Chase Issuance Trust (CHAIT), Series2015-A4, Class A | 1.84 | 4/15/22 | 265 | ||||||||||||
100 | Citibank Credit Card Issuance Trust, Series2014-A1, Class A1 | 2.88 | 1/23/23 | 100 | ||||||||||||
100 | Discover Card Execution Note Trust, Series2017-A2, Class A2 | 2.39 | 7/15/24 | 98 | ||||||||||||
350 | Discover Card Execution Note Trust, Series2018-A4, Class A4 | 3.11 | 1/16/24 | 352 | ||||||||||||
156 | GM Financial Consumer Automobile Receivables Trust, Series2018-1, Class A4, Callable 10/16/21 @ 100.00 | 2.46 | 7/17/23 | 154 | ||||||||||||
200 | Synchrony Credit Card Master Note Trust, Series2018-1, Class A | 2.97 | 3/15/24 | 200 | ||||||||||||
200 | Toyota Auto Receivables Owner Trust, Series2018-A, Class A4, Callable 12/15/21 @ 100.00 | 2.52 | 5/15/23 | 199 | ||||||||||||
250 | World Omni Auto Receivables, Series2017-A, Class A3, Callable 2/15/21 @ 100.00 | 1.93 | 9/15/22 | 247 | ||||||||||||
|
| |||||||||||||||
Total Asset Backed Securities | 3,434 | |||||||||||||||
|
| |||||||||||||||
Collateralized Mortgage Obligations — 6.30% | ||||||||||||||||
250 | Bank, Series 2017-BNK9, Class ASB | 3.47 | 11/15/54 | 251 | ||||||||||||
150 | Bank, Series 2018-BN10, Class A5 | 3.69 | 2/15/61 | 149 | ||||||||||||
200 | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class A2 | 3.12 | 2/15/50 | 200 | ||||||||||||
100 | Bank of America Commercial Mortgage Trust, Series 2017-BNK3, Class ASB | 3.37 | 2/15/50 | 100 | ||||||||||||
200 | Benchmark Mortgage Trust, Series2018-B6, Class A4 | 4.26 | 10/10/51 | 209 | ||||||||||||
228 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4 | 2.88 | 2/10/48 | 222 | ||||||||||||
183 | Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A5 | 3.14 | 2/10/48 | 179 | ||||||||||||
100 | Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4 | 3.31 | 4/10/49 | 99 | ||||||||||||
100 | Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5 | 3.62 | 2/10/49 | 100 | ||||||||||||
228 | Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class A4 | 3.62 | 7/10/47 | 231 | ||||||||||||
183 | Commercial Mortgage Trust, Series 2015-LC19, Class A4 | 3.18 | 2/10/48 | 180 | ||||||||||||
80 | Commercial Mortgage Trust, Series2015-DC1, Class A5 | 3.35 | 2/10/48 | 79 | ||||||||||||
256 | Commercial Mortgage Trust, Series2013-CR8, Class A5 | 3.61 | (a) | 6/10/46 | 260 | |||||||||||
100 | Commercial Mortgage Trust, Series 2014-UBS4, Class AM | 3.97 | 8/10/47 | 101 | ||||||||||||
100 | Commercial Mortgage Trust, Series 2013-CR11, Class B | 5.16 | (a) | 8/10/50 | 105 | |||||||||||
200 | CSAIL Commercial Mortgage Trust, Series2016-C7, Class ASB | 3.31 | 11/15/49 | 200 | ||||||||||||
500 | CSAIL Commercial Mortgage Trust, Series 2018-CX11, Class A2 | 3.82 | 4/15/51 | 511 | ||||||||||||
135 | FannieMae-ACES, Series2016-M6, Class A1 | 2.14 | 5/25/26 | 131 | ||||||||||||
17 | FannieMae-ACES, Series2013-M14, Class APT | 2.64 | (a) | 4/25/23 | 17 | |||||||||||
46 | FannieMae-ACES, Series2017-M8, Class A1 | 2.65 | 5/25/27 | 46 | ||||||||||||
283 | FannieMae-ACES, Series2015-M3, Class A2 | 2.72 | 10/25/24 | 278 | ||||||||||||
254 | FannieMae-ACES, Series2012-M1, Class A2 | 2.73 | 10/25/21 | 253 | ||||||||||||
200 | FannieMae-ACES, Series2017-M7, Class A2 | 2.96 | 2/25/27 | 195 | ||||||||||||
58 | FannieMae-ACES, Series2012-M4, Class 1A2 | 2.98 | 4/25/22 | 58 | ||||||||||||
250 | FannieMae-ACES, Series2017-M11, Class A2 | 2.98 | 8/25/29 | 240 | ||||||||||||
300 | FannieMae-ACES, Series2017-M12, Class A2 | 3.08 | (a) | 6/25/27 | 295 | |||||||||||
228 | FannieMae-ACES, Series2014-M9, Class A2 | 3.10 | (a) | 7/25/24 | 230 | |||||||||||
200 | FannieMae-ACES, Series 2017 M15, Class ATS2 | 3.14 | (a) | 11/25/27 | 197 | |||||||||||
46 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K023, Class A2 | 2.31 | 8/25/22 | 45 | ||||||||||||
95 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K058, Class A1 | 2.34 | 7/25/26 | 92 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K027, Class A2 | 2.64 | 1/25/23 | 180 | ||||||||||||
350 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K055, Class A2 | 2.67 | 3/25/26 | 339 | ||||||||||||
119 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K017, Class A2 | 2.87 | 12/25/21 | 119 | ||||||||||||
59 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A1 | 3.02 | 2/25/23 | 60 |
See accompanying notes to financial statements.
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The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Collateralized Mortgage Obligations (continued) | ||||||||||||||||
$ | 365 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K043, Class A2 | 3.06 | 12/25/24 | $ | 366 | ||||||||||
274 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K716, Class A2 | 3.13 | 6/25/21 | 275 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K032, Class A2 | 3.31 | (a) | 5/25/23 | 185 | |||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K029, Class A2 | 3.32 | 2/25/23 | 185 | ||||||||||||
100 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K047, Class A2, Callable 5/11/25 @ 100.00 | 3.33 | 5/25/25 | 101 | ||||||||||||
500 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K077, Class A2 | 3.85 | 5/25/28 | 520 | ||||||||||||
111 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K014, Class A2 | 3.87 | 4/25/21 | 113 | ||||||||||||
205 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K012, Class A2 | 4.18 | 12/25/20 | 210 | ||||||||||||
183 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K006, Class A2 | 4.25 | 1/25/20 | 184 | ||||||||||||
110 | Freddie Mac Multifamily Structured Pass-Through Certificates, Series K010, Class A2 | 4.33 | 10/25/20 | 112 | ||||||||||||
230 | GS Mortgage Securities Trust, Series2016-GS2, Class A3 | 2.79 | 5/10/49 | 219 | ||||||||||||
100 | GS Mortgage Securities Trust, Series2017-GS5, Class A2 | 3.22 | 3/10/50 | 100 | ||||||||||||
250 | GS Mortgage Securities Trust, Series2017-GS5, Class A4 | 3.67 | 3/10/50 | 250 | ||||||||||||
100 | GS Mortgage Securities Trust, Series 2018-GS10, Class A5 | 4.15 | (a) | 7/10/51 | 103 | |||||||||||
274 | GS Mortgage Securities Trust, Series 2013-GC14, Class A5 | 4.24 | 8/10/46 | 284 | ||||||||||||
137 | JPMBB Commercial Mortgage Securities Trust, Series2014-C24, Class A5 | 3.64 | 11/15/47 | 138 | ||||||||||||
183 | JPMBB Commercial Mortgage Securities Trust, Series2014-C22, Class A4, Callable 7/15/24 @ 100.00 | 3.80 | 9/15/47 | 186 | ||||||||||||
183 | JPMBB Commercial Mortgage Securities Trust, Series2013-C15, Class A5 | 4.13 | 11/15/45 | 188 | ||||||||||||
191 | JPMorgan Chase Commercial Mortgage Securities Corp., Series2012-C8, Class A3 | 2.83 | 10/15/45 | 187 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series2015-C21, Class ASB | 3.15 | 3/15/48 | 99 | ||||||||||||
183 | Morgan Stanley BAML Trust, Series2015-C20, Class A4 | 3.25 | 2/15/48 | 180 | ||||||||||||
200 | Morgan Stanley BAML Trust, Series2014-C19, Class A4 | 3.53 | 12/15/47 | 200 | ||||||||||||
200 | Morgan Stanley BAML Trust, Series2017-C33, Class A5 | 3.60 | 5/15/50 | 199 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series2014-C17, Class A5, Callable 7/11/24 @ 100.00 | 3.74 | 8/15/47 | 101 | ||||||||||||
100 | Morgan Stanley BAML Trust, Series2014-C15, Class A4 | 4.05 | 4/15/47 | 103 | ||||||||||||
200 | Morgan Stanley Capital I Trust, Series2017-H1, Class A4 | 3.26 | 6/15/50 | 194 | ||||||||||||
183 | Morgan Stanley Capital I Trust, Series 2016-UBS9, Class A4 | 3.59 | 3/15/49 | 183 | ||||||||||||
100 | SG Commercial Mortgage Securities Trust, Series2016-C5, Class A4 | 3.06 | 10/10/48 | 96 | ||||||||||||
146 | UBS Commercial Mortgage Trust, Series2012-C1, Class AAB | 3.00 | 5/10/45 | 145 | ||||||||||||
141 | UBS-Barclays Commercial Mortgage Trust, Series2012-C2, Class A4 | 3.53 | 5/10/63 | 143 | ||||||||||||
500 | Wells Fargo Commercial Mortgage Trust, Series2016-C34, Class A4 | 3.10 | 6/15/49 | 484 | ||||||||||||
183 | Wells Fargo Commercial Mortgage Trust, Series2015-C30, Class A4 | 3.66 | 9/15/58 | 184 | ||||||||||||
124 | Wells Fargo Commercial Mortgage Trust, Series2015-P2, Class A4 | 3.81 | 12/15/48 | 127 | ||||||||||||
169 | Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5 | 3.82 | 8/15/50 | 172 | ||||||||||||
142 | Wells Fargo Commercial Mortgage Trust, Series2015-C26, Class C | 4.07 | 2/15/48 | 135 | ||||||||||||
167 | WF-RBS Commercial Mortgage Trust, Series2013-C14, Class ASB | 2.98 | 6/15/46 | 167 | ||||||||||||
|
| |||||||||||||||
Total Collateralized Mortgage Obligations | 12,769 | |||||||||||||||
|
| |||||||||||||||
U.S. Government Agency Mortgages — 91.82% | ||||||||||||||||
48 | Fannie Mae, Pool #AY4232 | 2.00 | 5/1/30 | 46 | ||||||||||||
105 | Fannie Mae, Pool #MA2906 | 2.00 | 2/1/32 | 101 | ||||||||||||
22 | Fannie Mae, Pool #CA0052 | 2.00 | 7/1/32 | 21 | ||||||||||||
90 | Fannie Mae, Pool #BJ4362 | 2.00 | 11/1/32 | 86 | ||||||||||||
249 | Fannie Mae, Pool #AS1058 | 2.00 | 11/1/28 | 243 | ||||||||||||
52 | Fannie Mae, Pool #AS0001 | 2.00 | 7/1/28 | 51 | ||||||||||||
46 | Fannie Mae, Pool #MA2888 | 2.50 | 1/1/47 | 44 | ||||||||||||
168 | Fannie Mae, Pool #AS8892 | 2.50 | 2/1/32 | 164 | ||||||||||||
21 | Fannie Mae, Pool #AS8172 | 2.50 | 10/1/36 | 20 | ||||||||||||
120 | Fannie Mae, Pool #AS8246 | 2.50 | 11/1/31 | 117 | ||||||||||||
25 | Fannie Mae, Pool #MA1511 | 2.50 | 7/1/33 | 24 | ||||||||||||
43 | Fannie Mae, Pool #AS8437 | 2.50 | 12/1/36 | 42 | ||||||||||||
91 | Fannie Mae, Pool #MA3282 | 2.50 | 2/1/33 | 89 | ||||||||||||
175 | Fannie Mae, Pool #BE3032 | 2.50 | 1/1/32 | 171 |
See accompanying notes to financial statements.
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HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 88 | Fannie Mae, Pool #AZ6458 | 2.50 | 7/1/30 | $ | 86 | ||||||||||
22 | Fannie Mae, Pool #MA2854 | 2.50 | 12/1/46 | 21 | ||||||||||||
179 | Fannie Mae, Pool #BC9041 | 2.50 | 11/1/31 | 175 | ||||||||||||
612 | Fannie Mae, Pool #MA3246 | 2.50 | 1/1/33 | 598 | ||||||||||||
310 | Fannie Mae, Pool #AO3019 | 2.50 | 5/1/27 | 306 | ||||||||||||
96 | Fannie Mae, Pool #BJ3944 | 2.50 | 1/1/33 | 94 | ||||||||||||
210 | Fannie Mae, Pool #BJ3742 | 2.50 | 12/1/32 | 206 | ||||||||||||
59 | Fannie Mae, Pool #MA2868 | 2.50 | 1/1/32 | 58 | ||||||||||||
310 | Fannie Mae, Pool #AP4742 | 2.50 | 8/1/27 | 306 | ||||||||||||
342 | Fannie Mae, Pool #MA1277 | 2.50 | 12/1/27 | 337 | ||||||||||||
40 | Fannie Mae, Pool #AS0513 | 2.50 | 8/1/43 | 38 | ||||||||||||
211 | Fannie Mae, Pool #AS4946 | 2.50 | 5/1/30 | 207 | ||||||||||||
345 | Fannie Mae, Pool #MA3154 | 2.50 | 10/1/32 | 337 | ||||||||||||
163 | Fannie Mae, Pool #AU5334 | 2.50 | 11/1/28 | 159 | ||||||||||||
381 | Fannie Mae, Pool #MA1210 | 2.50 | 10/1/27 | 376 | ||||||||||||
118 | Fannie Mae, Pool #AU6387 | 2.50 | 11/1/28 | 117 | ||||||||||||
214 | Fannie Mae, Pool #AU2619 | 2.50 | 8/1/28 | 211 | ||||||||||||
173 | Fannie Mae, Pool #AB7391 | 2.50 | 12/1/42 | 164 | ||||||||||||
73 | Fannie Mae, Pool #AS4660 | 2.50 | 3/1/30 | 72 | ||||||||||||
71 | Fannie Mae, Pool #AT2717 | 2.50 | 5/1/43 | 68 | ||||||||||||
49 | Fannie Mae, Pool #MA1270 | 2.50 | 11/1/32 | 48 | ||||||||||||
20 | Fannie Mae, Pool #MA2789 | 2.50 | 10/1/36 | 20 | ||||||||||||
117 | Fannie Mae, Pool #MA3217 | 2.50 | 12/1/32 | 115 | ||||||||||||
42 | Fannie Mae, Pool #MA2897 | 3.00 | 2/1/37 | 42 | ||||||||||||
116 | Fannie Mae, Pool #MA2230 | 3.00 | 4/1/35 | 115 | ||||||||||||
46 | Fannie Mae, Pool #MA2087 | 3.00 | 11/1/34 | 46 | ||||||||||||
68 | Fannie Mae, Pool #MA3185 | 3.00 | 11/1/37 | 68 | ||||||||||||
117 | Fannie Mae, Pool #MA2523 | 3.00 | 2/1/36 | 116 | ||||||||||||
104 | Fannie Mae, Pool #AS2312 | 3.00 | 5/1/29 | 104 | ||||||||||||
43 | Fannie Mae, Pool #MA3078 | 3.00 | 7/1/37 | 43 | ||||||||||||
374 | Fannie Mae, Pool #MA3082 | 3.00 | 7/1/47 | 365 | ||||||||||||
251 | Fannie Mae, Pool #MA2246 | 3.00 | 4/1/30 | 251 | ||||||||||||
32 | Fannie Mae, Pool #MA2065 | 3.00 | 10/1/34 | 32 | ||||||||||||
307 | Fannie Mae, Pool #AK0006 | 3.00 | 1/1/27 | 308 | ||||||||||||
394 | Fannie Mae, Pool #MA3106 | 3.00 | 8/1/47 | 385 | ||||||||||||
641 | Fannie Mae, Pool #AP6493 | 3.00 | 9/1/42 | 632 | ||||||||||||
353 | Fannie Mae, Pool #MA2956 | 3.00 | 4/1/47 | 345 | ||||||||||||
196 | Fannie Mae, Pool #MA3147 | 3.00 | 10/1/47 | 191 | ||||||||||||
45 | Fannie Mae, Pool #MA3127 | 3.00 | 9/1/37 | 44 | ||||||||||||
97 | Fannie Mae, Pool #MA2149 | 3.00 | 1/1/30 | 97 | ||||||||||||
276 | Fannie Mae, Pool #AY4829 | 3.00 | 5/1/45 | 271 | ||||||||||||
212 | Fannie Mae, Pool #MA3179 | 3.00 | 11/1/47 | 207 | ||||||||||||
179 | Fannie Mae, Pool #AS1527 | 3.00 | 1/1/29 | 179 | ||||||||||||
44 | Fannie Mae, Pool #MA3218 | 3.00 | 12/1/32 | 44 | ||||||||||||
68 | Fannie Mae, Pool #MA2579 | 3.00 | 4/1/36 | 68 | ||||||||||||
276 | Fannie Mae, Pool #AS4884 | 3.00 | 5/1/45 | 271 | ||||||||||||
91 | Fannie Mae, Pool #MA3247 | 3.00 | 1/1/33 | 91 | ||||||||||||
198 | Fannie Mae, Pool #MA3304 | 3.00 | 3/1/48 | 193 | ||||||||||||
134 | Fannie Mae, Pool #MA1527 | 3.00 | 8/1/33 | 134 | ||||||||||||
43 | Fannie Mae, Pool #MA2961 | 3.00 | 4/1/37 | 42 | ||||||||||||
44 | Fannie Mae, Pool #AS8056 | 3.00 | 10/1/46 | 43 | ||||||||||||
255 | Fannie Mae, Pool #AS7238 | 3.00 | 5/1/46 | 249 | ||||||||||||
136 | Fannie Mae, Pool #MA1401 | 3.00 | 4/1/33 | 136 | ||||||||||||
190 | Fannie Mae, Pool #AY4200 | 3.00 | 5/1/45 | 186 |
See accompanying notes to financial statements.
164
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 32 | Fannie Mae, Pool #MA2287 | 3.00 | 6/1/35 | $ | 32 | ||||||||||
83 | Fannie Mae, Pool #AS3117 | 3.00 | 8/1/29 | 83 | ||||||||||||
41 | Fannie Mae, Pool #AR7426 | 3.00 | 7/1/43 | 41 | ||||||||||||
115 | Fannie Mae, Pool #MA3339 | 3.00 | 4/1/33 | 115 | ||||||||||||
122 | Fannie Mae, Pool #MA3331 | 3.00 | 4/1/48 | 119 | ||||||||||||
69 | Fannie Mae, Pool #MA1338 | 3.00 | 2/1/33 | 68 | ||||||||||||
63 | Fannie Mae, Pool #AS4334 | 3.00 | 1/1/45 | 62 | ||||||||||||
249 | Fannie Mae, Pool #AS0196 | 3.00 | 8/1/28 | 250 | ||||||||||||
292 | Fannie Mae, Pool #AS4333 | 3.00 | 1/1/45 | 287 | ||||||||||||
324 | Fannie Mae, Pool #MA1307 | 3.00 | 1/1/33 | 323 | ||||||||||||
117 | Fannie Mae, Pool #MA2425 | 3.00 | 10/1/30 | 117 | ||||||||||||
906 | Fannie Mae, Pool #AQ7920 | 3.00 | 12/1/42 | 892 | ||||||||||||
131 | Fannie Mae, Pool #AQ3223 | 3.00 | 11/1/27 | 132 | ||||||||||||
22 | Fannie Mae, Pool #MA3100 | 3.00 | 8/1/37 | 22 | ||||||||||||
90 | Fannie Mae, Pool #MA3237 | 3.00 | 1/1/48 | 88 | ||||||||||||
89 | Fannie Mae, Pool #AS8483 | 3.00 | 12/1/46 | 87 | ||||||||||||
83 | Fannie Mae, Pool #AS8438 | 3.00 | 12/1/36 | 82 | ||||||||||||
82 | Fannie Mae, Pool #AS8424 | 3.00 | 12/1/36 | 82 | ||||||||||||
384 | Fannie Mae, Pool #AS8414 | 3.00 | 11/1/46 | 375 | ||||||||||||
298 | Fannie Mae, Pool #AS8276 | 3.00 | 11/1/46 | 291 | ||||||||||||
148 | Fannie Mae, Pool #AS8186 | 3.00 | 10/1/46 | 144 | ||||||||||||
89 | Fannie Mae, Pool #BE4400 | 3.00 | 1/1/47 | 87 | ||||||||||||
166 | Fannie Mae, Pool #AS7908 | 3.00 | 9/1/46 | 162 | ||||||||||||
90 | Fannie Mae, Pool #BE3861 | 3.00 | 1/1/47 | 88 | ||||||||||||
114 | Fannie Mae, Pool #MA2773 | 3.00 | 10/1/36 | 113 | ||||||||||||
63 | Fannie Mae, Pool #BM1370 | 3.00 | 4/1/37 | 62 | ||||||||||||
245 | Fannie Mae, Pool #AS8784 | 3.00 | 2/1/47 | 240 | ||||||||||||
185 | Fannie Mae, Pool #AS8521 | 3.00 | 12/1/46 | 181 | ||||||||||||
211 | Fannie Mae, Pool #AB4483 | 3.00 | 2/1/27 | 212 | ||||||||||||
917 | Fannie Mae, Pool #AB7099 | 3.00 | 11/1/42 | 903 | ||||||||||||
324 | Fannie Mae, Pool #AB8897 | 3.00 | 4/1/43 | 319 | ||||||||||||
89 | Fannie Mae, Pool #AL9996 | 3.00 | 4/1/32 | 89 | ||||||||||||
85 | Fannie Mae, Pool #AU7890 | 3.00 | 9/1/28 | 85 | ||||||||||||
36 | Fannie Mae, Pool #MA1058 | 3.00 | 5/1/32 | 36 | ||||||||||||
353 | Fannie Mae, Pool #AL9865 | 3.00 | 2/1/47 | 344 | ||||||||||||
221 | Fannie Mae, Pool #AU3735 | 3.00 | 8/1/43 | 217 | ||||||||||||
22 | Fannie Mae, Pool #AL9848 | 3.00 | 3/1/47 | 22 | ||||||||||||
286 | Fannie Mae, Pool #AT7620 | 3.00 | 6/1/43 | 281 | ||||||||||||
301 | Fannie Mae, Pool #AT2014 | 3.00 | 4/1/43 | 296 | ||||||||||||
54 | Fannie Mae, Pool #AT1575 | 3.00 | 5/1/43 | 53 | ||||||||||||
326 | Fannie Mae, Pool #AT0682 | 3.00 | 4/1/43 | 321 | ||||||||||||
240 | Fannie Mae, Pool #MA2737 | 3.00 | 9/1/46 | 235 | ||||||||||||
263 | Fannie Mae, Pool #MA2895 | 3.00 | 2/1/47 | 257 | ||||||||||||
176 | Fannie Mae, Pool #BE1901 | 3.00 | 12/1/46 | 172 | ||||||||||||
201 | Fannie Mae, Pool #BD5545 | 3.00 | 10/1/46 | 196 | ||||||||||||
1,173 | Fannie Mae, Pool #AP6375 | 3.00 | 9/1/42 | 1,154 | ||||||||||||
28 | Fannie Mae, Pool #AX8309 | 3.00 | 11/1/29 | 28 | ||||||||||||
504 | Fannie Mae, Pool #AP2465 | 3.00 | 8/1/42 | 496 | ||||||||||||
261 | Fannie Mae, Pool #MA2863 | 3.00 | 1/1/47 | 255 | ||||||||||||
95 | Fannie Mae, Pool #BJ2996 | 3.00 | 1/1/33 | 94 | ||||||||||||
128 | Fannie Mae, Pool #AZ0538 | 3.00 | 9/1/30 | 128 | ||||||||||||
77 | Fannie Mae, Pool #AW8295 | 3.00 | 8/1/29 | 77 | ||||||||||||
47 | Fannie Mae, Pool #BA4786 | 3.00 | 2/1/31 | 47 | ||||||||||||
71 | Fannie Mae, Pool #BK1015 | 3.00 | 2/1/33 | 71 |
See accompanying notes to financial statements.
165
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 341 | Fannie Mae, Pool #BD5787 | 3.00 | 9/1/46 | $ | 333 | ||||||||||
14 | Fannie Mae, Pool #BA0826 | 3.00 | 10/1/30 | 14 | ||||||||||||
62 | Fannie Mae, Pool #MA2832 | 3.00 | 12/1/36 | 61 | ||||||||||||
256 | Fannie Mae, Pool #MA2833 | 3.00 | 12/1/46 | 250 | ||||||||||||
88 | Fannie Mae, Pool #J24886 | 3.00 | 7/1/23 | 88 | ||||||||||||
153 | Fannie Mae, Pool #AW7383 | 3.00 | 8/1/29 | 153 | ||||||||||||
686 | Fannie Mae, Pool #AO0752 | 3.00 | 4/1/42 | 675 | ||||||||||||
46 | Fannie Mae, Pool #AZ4358 | 3.00 | 7/1/30 | 46 | ||||||||||||
257 | Fannie Mae, Pool #BD4225 | 3.00 | 11/1/46 | 251 | ||||||||||||
47 | Fannie Mae, Pool #BE9547 | 3.00 | 4/1/47 | 46 | ||||||||||||
285 | Fannie Mae, Pool #AK3302 | 3.00 | 3/1/27 | 286 | ||||||||||||
339 | Fannie Mae, Pool #MA2806 | 3.00 | 11/1/46 | 331 | ||||||||||||
302 | Fannie Mae, Pool #BC9003 | 3.00 | 11/1/46 | 295 | ||||||||||||
300 | Fannie Mae, Pool #BC4764 | 3.00 | 10/1/46 | 293 | ||||||||||||
82 | Fannie Mae, Pool #BC4276 | 3.00 | 4/1/46 | 81 | ||||||||||||
397 | Fannie Mae, Pool #BD2446 | 3.00 | 1/1/47 | 387 | ||||||||||||
36 | Fannie Mae, Pool #MA2692 | 3.50 | 7/1/36 | 37 | ||||||||||||
216 | Fannie Mae, Pool #MA1980 | 3.50 | 8/1/44 | 217 | ||||||||||||
20 | Fannie Mae, Pool #MA2909 | 3.50 | 2/1/37 | 20 | ||||||||||||
597 | Fannie Mae, Pool #MA3520 | 3.50 | 10/1/48 | 597 | ||||||||||||
101 | Fannie Mae, Pool #MA2923 | 3.50 | 3/1/37 | 102 | ||||||||||||
50 | Fannie Mae, Pool #MA2495 | 3.50 | 1/1/46 | 50 | ||||||||||||
109 | Fannie Mae, Pool #BC0163 | 3.50 | 1/1/46 | 109 | ||||||||||||
246 | Fannie Mae, Pool #MA2125 | 3.50 | 12/1/44 | 247 | ||||||||||||
147 | Fannie Mae, Pool #BJ0647 | 3.50 | 3/1/48 | 147 | ||||||||||||
438 | Fannie Mae, Pool #BJ2692 | 3.50 | 4/1/48 | 438 | ||||||||||||
288 | Fannie Mae, Pool #BK9038 | 3.50 | 10/1/33 | 292 | ||||||||||||
100 | Fannie Mae, Pool #BK9622 | 3.50 | 10/1/48 | 100 | ||||||||||||
37 | Fannie Mae, Pool #BM1231 | 3.50 | 11/1/31 | 37 | ||||||||||||
77 | Fannie Mae, Pool #BC7633 | 3.50 | 6/1/46 | 77 | ||||||||||||
372 | Fannie Mae, Pool #BD2436 | 3.50 | 1/1/47 | 373 | ||||||||||||
317 | Fannie Mae, Pool #BD5046 | 3.50 | 2/1/47 | 318 | ||||||||||||
145 | Fannie Mae, Pool #BE5258 | 3.50 | 1/1/47 | 145 | ||||||||||||
141 | Fannie Mae, Pool #BM2001 | 3.50 | 12/1/46 | 141 | ||||||||||||
1,045 | Fannie Mae, Pool #AB6017 | 3.50 | 8/1/42 | 1,053 | ||||||||||||
23 | Fannie Mae, Pool #MA1021 | 3.50 | 3/1/27 | 23 | ||||||||||||
182 | Fannie Mae, Pool #MA1059 | 3.50 | 5/1/32 | 185 | ||||||||||||
340 | Fannie Mae, Pool #BM1568 | 3.50 | 7/1/47 | 343 | ||||||||||||
377 | Fannie Mae, Pool #CA0487 | 3.50 | 10/1/47 | 377 | ||||||||||||
476 | Fannie Mae, Pool #BH9277 | 3.50 | 2/1/48 | 476 | ||||||||||||
379 | Fannie Mae, Pool #BH9215 | 3.50 | 1/1/48 | 380 | ||||||||||||
419 | Fannie Mae, Pool #BH5155 | 3.50 | 9/1/47 | 419 | ||||||||||||
236 | Fannie Mae, Pool #MA1107 | 3.50 | 7/1/32 | 241 | ||||||||||||
286 | Fannie Mae, Pool #MA2292 | 3.50 | 6/1/45 | 287 | ||||||||||||
86 | Fannie Mae, Pool #MA2389 | 3.50 | 9/1/35 | 87 | ||||||||||||
21 | Fannie Mae, Pool #MA2996 | 3.50 | 5/1/37 | 21 | ||||||||||||
381 | Fannie Mae, Pool #MA3305 | 3.50 | 3/1/48 | 382 | ||||||||||||
294 | Fannie Mae, Pool #MA3332 | 3.50 | 4/1/48 | 295 | ||||||||||||
371 | Fannie Mae, Pool #MA3414 | 3.50 | 7/1/48 | 371 | ||||||||||||
200 | Fannie Mae, Pool #MA3462 | 3.50 | 9/1/33 | 202 | ||||||||||||
205 | Fannie Mae, Pool #MA1982 | 3.50 | 8/1/34 | 209 | ||||||||||||
105 | Fannie Mae, Pool #AE5487 | 3.50 | 10/1/25 | 107 | ||||||||||||
375 | Fannie Mae, Pool #MA3238 | 3.50 | 1/1/48 | 375 | ||||||||||||
349 | Fannie Mae, Pool #MA3026 | 3.50 | 6/1/47 | 349 |
See accompanying notes to financial statements.
166
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 43 | Fannie Mae, Pool #MA3059 | 3.50 | 7/1/37 | $ | 43 | ||||||||||
200 | Fannie Mae, Pool #MA3494 | 3.50 | 10/1/48 | 200 | ||||||||||||
44 | Fannie Mae, Pool #MA3152 | 3.50 | 10/1/37 | 45 | ||||||||||||
422 | Fannie Mae, Pool #MA3182 | 3.50 | 11/1/47 | 422 | ||||||||||||
355 | Fannie Mae, Pool #BC1158 | 3.50 | 2/1/46 | 356 | ||||||||||||
184 | Fannie Mae, Pool #MA3243 | 3.50 | 1/1/38 | 187 | ||||||||||||
156 | Fannie Mae, Pool #BC3126 | 3.50 | 1/1/46 | 156 | ||||||||||||
289 | Fannie Mae, Pool #AS7388 | 3.50 | 6/1/46 | 290 | ||||||||||||
235 | Fannie Mae, Pool #AS7239 | 3.50 | 5/1/46 | 235 | ||||||||||||
206 | Fannie Mae, Pool #AY5303 | 3.50 | 3/1/45 | 207 | ||||||||||||
297 | Fannie Mae, Pool #AZ0862 | 3.50 | 7/1/45 | 299 | ||||||||||||
65 | Fannie Mae, Pool #310139 | 3.50 | 11/1/25 | 66 | ||||||||||||
32 | Fannie Mae, Pool #AS2081 | 3.50 | 4/1/29 | 33 | ||||||||||||
190 | Fannie Mae, Pool #AS0024 | 3.50 | 7/1/43 | 192 | ||||||||||||
266 | Fannie Mae, Pool #AS3133 | 3.50 | 8/1/44 | 267 | ||||||||||||
225 | Fannie Mae, Pool #AY4300 | 3.50 | 1/1/45 | 225 | ||||||||||||
211 | Fannie Mae, Pool #AS6649 | 3.50 | 2/1/46 | 212 | ||||||||||||
165 | Fannie Mae, Pool #AS5696 | 3.50 | 8/1/45 | 165 | ||||||||||||
217 | Fannie Mae, Pool #AS5068 | 3.50 | 6/1/45 | 218 | ||||||||||||
248 | Fannie Mae, Pool #AS4773 | 3.50 | 4/1/45 | 249 | ||||||||||||
128 | Fannie Mae, Pool #AS4772 | 3.50 | 4/1/45 | 128 | ||||||||||||
251 | Fannie Mae, Pool #AS4771 | 3.50 | 4/1/45 | 252 | ||||||||||||
137 | Fannie Mae, Pool #AS5319 | 3.50 | 7/1/45 | 138 | ||||||||||||
102 | Fannie Mae, Pool #AS5892 | 3.50 | 10/1/45 | 102 | ||||||||||||
424 | Fannie Mae, Pool #AQ0546 | 3.50 | 11/1/42 | 427 | ||||||||||||
167 | Fannie Mae, Pool #AY3913 | 3.50 | 2/1/45 | 167 | ||||||||||||
231 | Fannie Mae, Pool #AX9530 | 3.50 | 2/1/45 | 232 | ||||||||||||
318 | Fannie Mae, Pool #AU1635 | 3.50 | 7/1/43 | 320 | ||||||||||||
152 | Fannie Mae, Pool #AU3742 | 3.50 | 8/1/43 | 153 | ||||||||||||
33 | Fannie Mae, Pool #AV6407 | 3.50 | 2/1/29 | 33 | ||||||||||||
349 | Fannie Mae, Pool #AS7491 | 3.50 | 7/1/46 | 350 | ||||||||||||
104 | Fannie Mae, Pool #AZ6383 | 3.50 | 9/1/45 | 105 | ||||||||||||
218 | Fannie Mae, Pool #AZ9576 | 3.50 | 12/1/45 | 219 | ||||||||||||
169 | Fannie Mae, Pool #AY3802 | 3.50 | 2/1/45 | 169 | ||||||||||||
96 | Fannie Mae, Pool #BA1893 | 3.50 | 8/1/45 | 96 | ||||||||||||
155 | Fannie Mae, Pool #AZ2614 | 3.50 | 8/1/45 | 156 | ||||||||||||
84 | Fannie Mae, Pool #AY8856 | 3.50 | 9/1/45 | 84 | ||||||||||||
17 | Fannie Mae, Pool #AX0159 | 3.50 | 9/1/29 | 18 | ||||||||||||
199 | Fannie Mae, Pool #AX2486 | 3.50 | 10/1/44 | 200 | ||||||||||||
113 | Fannie Mae, Pool #AX5201 | 3.50 | 10/1/29 | 115 | ||||||||||||
100 | Fannie Mae, Pool #AX7655 | 3.50 | 1/1/45 | 100 | ||||||||||||
27 | Fannie Mae, Pool #BA5031 | 3.50 | 1/1/46 | 27 | ||||||||||||
365 | Fannie Mae, Pool #AL1717 | 3.50 | 5/1/27 | 371 | ||||||||||||
266 | Fannie Mae, Pool #AY1306 | 3.50 | 3/1/45 | 267 | ||||||||||||
1,098 | Fannie Mae, Pool #AO2548 | 3.50 | 4/1/42 | 1,107 | ||||||||||||
18 | Fannie Mae, Pool #AJ6181 | 3.50 | 12/1/26 | 18 | ||||||||||||
200 | Fannie Mae, Pool #AO4385 | 3.50 | 6/1/42 | 202 | ||||||||||||
126 | Fannie Mae, Pool #AJ4093 | 3.50 | 10/1/26 | 127 | ||||||||||||
46 | Fannie Mae, Pool #AK0706 | 3.50 | 2/1/27 | 47 | ||||||||||||
388 | Fannie Mae, Pool #AO3760 | 3.50 | 5/1/42 | 391 | ||||||||||||
242 | Fannie Mae, Pool #AJ8476 | 3.50 | 12/1/41 | 244 | ||||||||||||
913 | Fannie Mae, Pool #AO8137 | 3.50 | 8/1/42 | 920 | ||||||||||||
52 | Fannie Mae, Pool #AP9390 | 3.50 | 10/1/42 | 53 | ||||||||||||
127 | Fannie Mae, Pool #AO9140 | 3.50 | 7/1/42 | 128 |
See accompanying notes to financial statements.
167
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 1,132 | Fannie Mae, Pool #AK7497 | 3.50 | 4/1/42 | $ | 1,142 | ||||||||||
126 | Fannie Mae, Pool #AO4647 | 3.50 | 6/1/42 | 127 | ||||||||||||
19 | Fannie Mae, Pool #AL8776 | 3.50 | 7/1/46 | 19 | ||||||||||||
23 | Fannie Mae, Pool #AW9041 | 4.00 | 8/1/44 | 23 | ||||||||||||
229 | Fannie Mae, Pool #AL8387 | 4.00 | 3/1/46 | 234 | ||||||||||||
78 | Fannie Mae, Pool #BC5559 | 4.00 | 3/1/46 | 80 | ||||||||||||
165 | Fannie Mae, Pool #AZ8067 | 4.00 | 9/1/45 | 168 | ||||||||||||
208 | Fannie Mae, Pool #AZ7362 | 4.00 | 11/1/45 | 212 | ||||||||||||
70 | Fannie Mae, Pool #BH2623 | 4.00 | 8/1/47 | 72 | ||||||||||||
74 | Fannie Mae, Pool #BA0847 | 4.00 | 3/1/46 | 76 | �� | |||||||||||
298 | Fannie Mae, Pool #BK0909 | 4.00 | 7/1/48 | 304 | ||||||||||||
398 | Fannie Mae, Pool #BJ9169 | 4.00 | 5/1/48 | 406 | ||||||||||||
79 | Fannie Mae, Pool #AS8823 | 4.00 | 2/1/47 | 81 | ||||||||||||
206 | Fannie Mae, Pool #AO2959 | 4.00 | 5/1/42 | 212 | ||||||||||||
183 | Fannie Mae, Pool #AX0841 | 4.00 | 9/1/44 | 187 | ||||||||||||
71 | Fannie Mae, Pool #BJ0639 | 4.00 | 3/1/48 | 72 | ||||||||||||
13 | Fannie Mae, Pool #AZ8874 | 4.00 | 9/1/45 | 13 | ||||||||||||
365 | Fannie Mae, Pool #BD7081 | 4.00 | 3/1/47 | 373 | ||||||||||||
142 | Fannie Mae, Pool #AS7600 | 4.00 | 7/1/46 | 145 | ||||||||||||
157 | Fannie Mae, Pool #AS7601 | 4.00 | 7/1/46 | 161 | ||||||||||||
291 | Fannie Mae, Pool #CA1894 | 4.00 | 6/1/48 | 296 | ||||||||||||
50 | Fannie Mae, Pool #AT3872 | 4.00 | 6/1/43 | 52 | ||||||||||||
198 | Fannie Mae, Pool #CA0237 | 4.00 | 8/1/47 | 202 | ||||||||||||
342 | Fannie Mae, Pool #CA0183 | 4.00 | 8/1/47 | 348 | ||||||||||||
15 | Fannie Mae, Pool #MA2536 | 4.00 | 2/1/36 | 16 | ||||||||||||
334 | Fannie Mae, Pool #BM2002 | 4.00 | 10/1/47 | 340 | ||||||||||||
269 | Fannie Mae, Pool #AU3753 | 4.00 | 8/1/43 | 276 | ||||||||||||
153 | Fannie Mae, Pool #AV2340 | 4.00 | 12/1/43 | 157 | ||||||||||||
36 | Fannie Mae, Pool #MA0695 | 4.00 | 4/1/31 | 37 | ||||||||||||
199 | Fannie Mae, Pool #MA0641 | 4.00 | 2/1/31 | 204 | ||||||||||||
66 | Fannie Mae, Pool #MA0493 | 4.00 | 8/1/30 | 67 | ||||||||||||
118 | Fannie Mae, Pool #AC7328 | 4.00 | 12/1/39 | 121 | ||||||||||||
165 | Fannie Mae, Pool #AW5063 | 4.00 | 7/1/44 | 169 | ||||||||||||
48 | Fannie Mae, Pool #AW5109 | 4.00 | 8/1/44 | 49 | ||||||||||||
267 | Fannie Mae, Pool #AS9486 | 4.00 | 4/1/47 | 272 | ||||||||||||
65 | Fannie Mae, Pool #G08694 | 4.00 | 2/1/46 | 66 | ||||||||||||
364 | Fannie Mae, Pool #AS9831 | 4.00 | 6/1/47 | 371 | ||||||||||||
1,049 | Fannie Mae, Pool #190405 | 4.00 | 10/1/40 | 1,079 | ||||||||||||
141 | Fannie Mae, Pool #AL7347 | 4.00 | 9/1/45 | 144 | ||||||||||||
353 | Fannie Mae, Pool #BE8050 | 4.00 | 4/1/47 | 360 | ||||||||||||
90 | Fannie Mae, Pool #AY0025 | 4.00 | 2/1/45 | 92 | ||||||||||||
234 | Fannie Mae, Pool #AS8532 | 4.00 | 12/1/46 | 239 | ||||||||||||
175 | Fannie Mae, Pool #AY1377 | 4.00 | 4/1/45 | 179 | ||||||||||||
39 | Fannie Mae, Pool #AY2291 | 4.00 | 3/1/45 | 40 | ||||||||||||
48 | Fannie Mae, Pool #MA3413 | 4.00 | 7/1/38 | 49 | ||||||||||||
166 | Fannie Mae, Pool #AS2498 | 4.00 | 5/1/44 | 170 | ||||||||||||
21 | Fannie Mae, Pool #MA3037 | 4.00 | 6/1/37 | 21 | ||||||||||||
351 | Fannie Mae, Pool #MA3027 | 4.00 | 6/1/47 | 358 | ||||||||||||
45 | Fannie Mae, Pool #MA3216 | 4.00 | 12/1/37 | 47 | ||||||||||||
418 | Fannie Mae, Pool #AJ7857 | 4.00 | 12/1/41 | 430 | ||||||||||||
570 | Fannie Mae, Pool #AJ7689 | 4.00 | 12/1/41 | 586 | ||||||||||||
134 | Fannie Mae, Pool #AS3468 | 4.00 | 10/1/44 | 137 | ||||||||||||
29 | Fannie Mae, Pool #AS2117 | 4.00 | 4/1/44 | 29 | ||||||||||||
525 | Fannie Mae, Pool #AJ5303 | 4.00 | 11/1/41 | 540 |
See accompanying notes to financial statements.
168
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 32 | Fannie Mae, Pool #AS7028 | 4.00 | 4/1/46 | $ | 32 | ||||||||||
241 | Fannie Mae, Pool #MA3277 | 4.00 | 2/1/48 | 245 | ||||||||||||
437 | Fannie Mae, Pool #MA2995 | 4.00 | 5/1/47 | 445 | ||||||||||||
194 | Fannie Mae, Pool #AS3293 | 4.00 | 9/1/44 | 198 | ||||||||||||
436 | Fannie Mae, Pool #AS0531 | 4.00 | 9/1/43 | 448 | ||||||||||||
91 | Fannie Mae, Pool #MA3244 | 4.00 | 1/1/38 | 93 | ||||||||||||
17 | Fannie Mae, Pool #MA2655 | 4.00 | 6/1/36 | 17 | ||||||||||||
200 | Fannie Mae, Pool #AY1595 | 4.00 | 1/1/45 | 204 | ||||||||||||
44 | Fannie Mae, Pool #MA2455 | 4.00 | 11/1/35 | 45 | ||||||||||||
83 | Fannie Mae, Pool #AL4778 | 4.00 | 10/1/32 | 85 | ||||||||||||
192 | Fannie Mae, Pool #AS3216 | 4.00 | 9/1/44 | 197 | ||||||||||||
317 | Fannie Mae, Pool #AH5859 | 4.00 | 2/1/41 | 326 | ||||||||||||
305 | Fannie Mae, Pool #MA3121 | 4.00 | 9/1/47 | 311 | ||||||||||||
199 | Fannie Mae, Pool #AS3467 | 4.00 | 10/1/44 | 204 | ||||||||||||
82 | Fannie Mae, Pool #AY8981 | 4.00 | 8/1/45 | 83 | ||||||||||||
38 | Fannie Mae, Pool #AH3394 | 4.00 | 1/1/41 | 39 | ||||||||||||
40 | Fannie Mae, Pool #AS3448 | 4.00 | 9/1/44 | 41 | ||||||||||||
244 | Fannie Mae, Pool #AH6242 | 4.00 | 4/1/26 | 250 | ||||||||||||
145 | Fannie Mae, Pool #AS3903 | 4.00 | 11/1/44 | 148 | ||||||||||||
194 | Fannie Mae, Pool #BA6910 | 4.00 | 2/1/46 | 198 | ||||||||||||
358 | Fannie Mae, Pool #MA3183 | 4.00 | 11/1/47 | 365 | ||||||||||||
191 | Fannie Mae, Pool #AI4815 | 4.50 | 6/1/41 | 200 | ||||||||||||
— | Fannie Mae, Pool #AB0339 | 4.50 | 1/1/20 | — | ||||||||||||
94 | Fannie Mae, Pool #AB1389 | 4.50 | 8/1/40 | 98 | ||||||||||||
36 | Fannie Mae, Pool #AB1470 | 4.50 | 9/1/40 | 38 | ||||||||||||
191 | Fannie Mae, Pool #AB3192 | 4.50 | 6/1/41 | 200 | ||||||||||||
45 | Fannie Mae, Pool #AA9781 | 4.50 | 7/1/24 | 46 | ||||||||||||
82 | Fannie Mae, Pool #AL5082 | 4.50 | 3/1/44 | 85 | ||||||||||||
72 | Fannie Mae, Pool #CA1218 | 4.50 | 2/1/48 | 74 | ||||||||||||
345 | Fannie Mae, Pool #CA1711 | 4.50 | 5/1/48 | 358 | ||||||||||||
31 | Fannie Mae, Pool #982892 | 4.50 | 5/1/23 | 32 | ||||||||||||
139 | Fannie Mae, Pool #CA0623 | 4.50 | 10/1/47 | 144 | ||||||||||||
114 | Fannie Mae, Pool #MA0481 | 4.50 | 8/1/30 | 120 | ||||||||||||
47 | Fannie Mae, Pool #AS0861 | 4.50 | 10/1/43 | 49 | ||||||||||||
29 | Fannie Mae, Pool #AA0860 | 4.50 | 1/1/39 | 31 | ||||||||||||
12 | Fannie Mae, Pool #AW7048 | 4.50 | 6/1/44 | 12 | ||||||||||||
41 | Fannie Mae, Pool #AU5302 | 4.50 | 10/1/43 | 42 | ||||||||||||
248 | Fannie Mae, Pool #MA3184 | 4.50 | 11/1/47 | 258 | ||||||||||||
200 | Fannie Mae, Pool #BK5283 | 4.50 | 6/1/48 | 207 | ||||||||||||
156 | Fannie Mae, Pool #AL4450 | 4.50 | 12/1/43 | 162 | ||||||||||||
36 | Fannie Mae, Pool #AH6790 | 4.50 | 3/1/41 | 38 | ||||||||||||
38 | Fannie Mae, Pool #AL8816 | 4.50 | 9/1/45 | 40 | ||||||||||||
299 | Fannie Mae, Pool #BK1416 | 4.50 | 5/1/48 | 310 | ||||||||||||
469 | Fannie Mae, Pool #AH9055 | 4.50 | 4/1/41 | 491 | ||||||||||||
50 | Fannie Mae, Pool #BK8830 | 4.50 | 8/1/48 | 52 | ||||||||||||
74 | Fannie Mae, Pool #BM1285 | 4.50 | 5/1/47 | 77 | ||||||||||||
176 | Fannie Mae, Pool #BE6489 | 4.50 | 1/1/47 | 183 | ||||||||||||
96 | Fannie Mae, Pool #AS2276 | 4.50 | 4/1/44 | 100 | ||||||||||||
474 | Fannie Mae, Pool #AL1107 | 4.50 | 11/1/41 | 496 | ||||||||||||
165 | Fannie Mae, Pool #AS8157 | 4.50 | 10/1/46 | 171 | ||||||||||||
509 | Fannie Mae, Pool #AH7521 | 4.50 | 3/1/41 | 534 | ||||||||||||
— | Fannie Mae, Pool #310112 | 4.50 | 6/1/19 | — | ||||||||||||
85 | Fannie Mae, Pool #AS1638 | 4.50 | 2/1/44 | 88 | ||||||||||||
129 | Fannie Mae, Pool #BE5992 | 4.50 | 2/1/47 | 134 |
See accompanying notes to financial statements.
169
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 39 | Fannie Mae, Pool #AS8576 | 4.50 | 12/1/46 | $ | 41 | ||||||||||
207 | Fannie Mae, Pool #AE0217 | 4.50 | 8/1/40 | 217 | ||||||||||||
199 | Fannie Mae, Pool #AD8529 | 4.50 | 8/1/40 | 209 | ||||||||||||
38 | Fannie Mae, Pool #890621 | 5.00 | 5/1/42 | 41 | ||||||||||||
32 | Fannie Mae, Pool #890603 | 5.00 | 8/1/41 | 34 | ||||||||||||
738 | Fannie Mae, Pool #889117 | 5.00 | 10/1/35 | 784 | ||||||||||||
78 | Fannie Mae, Pool #AL5788 | 5.00 | 5/1/42 | 83 | ||||||||||||
97 | Fannie Mae, Pool #CA1795 | 5.00 | 5/1/48 | 101 | ||||||||||||
74 | Fannie Mae, Pool #CA0349 | 5.00 | 9/1/47 | 77 | ||||||||||||
155 | Fannie Mae, Pool #AH5988 | 5.00 | 3/1/41 | 165 | ||||||||||||
40 | Fannie Mae, Pool #725238 | 5.00 | 3/1/34 | 43 | ||||||||||||
79 | Fannie Mae, Pool #AS0837 | 5.00 | 10/1/43 | 84 | ||||||||||||
61 | Fannie Mae, Pool #BM3781 | 5.00 | 11/1/30 | 64 | ||||||||||||
80 | Fannie Mae, Pool #AS0575 | 5.00 | 9/1/43 | 85 | ||||||||||||
— | Fannie Mae, Pool #725504 | 5.00 | 1/1/19 | — | ||||||||||||
9 | Fannie Mae, Pool #796663 | 5.00 | 9/1/19 | 10 | ||||||||||||
50 | Fannie Mae, Pool #MA3472 | 5.00 | 9/1/48 | 52 | ||||||||||||
1 | Fannie Mae, Pool #868986 | 5.00 | 5/1/21 | 1 | ||||||||||||
121 | Fannie Mae, Pool #BM3904 | 5.00 | 5/1/48 | 126 | ||||||||||||
82 | Fannie Mae, Pool #836750 | 5.00 | 10/1/35 | 87 | ||||||||||||
16 | Fannie Mae, Pool #909662 | 5.50 | 2/1/22 | 16 | ||||||||||||
1,141 | Fannie Mae, Pool #890221 | 5.50 | 12/1/33 | 1,227 | ||||||||||||
31 | Fannie Mae, Pool #976945 | 5.50 | 2/1/23 | 32 | ||||||||||||
4 | Fannie Mae, Pool #AL0725 | 5.50 | 6/1/24 | 4 | ||||||||||||
5 | Fannie Mae, Pool #A69671 | 5.50 | 12/1/37 | 5 | ||||||||||||
1 | Fannie Mae, Pool #A79636 | 5.50 | 7/1/38 | 1 | ||||||||||||
19 | Fannie Mae, Pool #929451 | 5.50 | 5/1/38 | 20 | ||||||||||||
683 | Fannie Mae, Pool #725228 | 6.00 | 3/1/34 | 745 | ||||||||||||
162 | Fannie Mae, Pool #889984 | 6.50 | 10/1/38 | 184 | ||||||||||||
975 | Fannie Mae, 15 YR TBA | 3.00 | 1/25/32 | 974 | ||||||||||||
175 | Fannie Mae, 15 YR TBA | 3.50 | 1/25/32 | 177 | ||||||||||||
250 | Fannie Mae, 15 YR TBA | 4.00 | 1/25/33 | 256 | ||||||||||||
800 | Fannie Mae, 30 YR TBA | 3.50 | 1/25/49 | 800 | ||||||||||||
3,800 | Fannie Mae, 30 YR TBA | 4.00 | 1/25/49 | 3,876 | ||||||||||||
475 | Fannie Mae, 30 YR TBA | 4.00 | 2/25/48 | 484 | ||||||||||||
1,425 | Fannie Mae, 30 YR TBA | 4.50 | 1/25/49 | 1,477 | ||||||||||||
300 | Fannie Mae, 30 YR TBA | 4.50 | 2/25/49 | 311 | ||||||||||||
50 | Fannie Mae, 30 YR TBA | 5.00 | 1/25/49 | 52 | ||||||||||||
150 | Fannie Mae, 30 YR TBA | 5.00 | 2/25/47 | 157 | ||||||||||||
91 | Freddie Mac, Pool #G18634 | 2.00 | 3/1/32 | 87 | ||||||||||||
61 | Freddie Mac, Pool #G18547 | 2.00 | 3/1/30 | 59 | ||||||||||||
131 | Freddie Mac, Pool #J25777 | 2.00 | 9/1/28 | 128 | ||||||||||||
48 | Freddie Mac, Pool #J25759 | 2.00 | 8/1/28 | 47 | ||||||||||||
197 | Freddie Mac, Pool #J18954 | 2.50 | 4/1/27 | 194 | ||||||||||||
69 | Freddie Mac, Pool #G18700 | 2.50 | 7/1/33 | 67 | ||||||||||||
49 | Freddie Mac, Pool #G18665 | 2.50 | 11/1/32 | 47 | ||||||||||||
163 | Freddie Mac, Pool #G18635 | 2.50 | 3/1/32 | 159 | ||||||||||||
47 | Freddie Mac, Pool #Q42878 | 2.50 | 9/1/46 | 44 | ||||||||||||
24 | Freddie Mac, Pool #G08638 | 2.50 | 4/1/45 | 22 | ||||||||||||
177 | Freddie Mac, Pool #G18533 | 2.50 | 12/1/29 | 173 | ||||||||||||
91 | Freddie Mac, Pool #G18485 | 2.50 | 10/1/28 | 90 | ||||||||||||
207 | Freddie Mac, Pool #G18470 | 2.50 | 6/1/28 | 204 | ||||||||||||
187 | Freddie Mac, Pool #G18459 | 2.50 | 3/1/28 | 185 | ||||||||||||
31 | Freddie Mac, Pool #G18472 | 2.50 | 7/1/28 | 31 |
See accompanying notes to financial statements.
170
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 21 | Freddie Mac, Pool #G08755 | 2.50 | 2/1/47 | $ | 20 | ||||||||||
115 | Freddie Mac, Pool #J35643 | 2.50 | 11/1/31 | 112 | ||||||||||||
157 | Freddie Mac, Pool #J35896 | 2.50 | 12/1/31 | 153 | ||||||||||||
121 | Freddie Mac, Pool #J36516 | 2.50 | 3/1/32 | 118 | ||||||||||||
188 | Freddie Mac, Pool #J37902 | 2.50 | 11/1/32 | 183 | ||||||||||||
311 | Freddie Mac, Pool #J38477 | 2.50 | 2/1/33 | 303 | ||||||||||||
97 | Freddie Mac, Pool #G18704 | 2.50 | 6/1/33 | 95 | ||||||||||||
146 | Freddie Mac, Pool #G18683 | 2.50 | 4/1/33 | 142 | ||||||||||||
328 | Freddie Mac, Pool #G18680 | 2.50 | 3/1/33 | 320 | ||||||||||||
15 | Freddie Mac, Pool #J30875 | 2.50 | 3/1/30 | 15 | ||||||||||||
213 | Freddie Mac, Pool #G18568 | 2.50 | 9/1/30 | 208 | ||||||||||||
181 | Freddie Mac, Pool #J23440 | 2.50 | 4/1/28 | 179 | ||||||||||||
76 | Freddie Mac, Pool #J25585 | 2.50 | 9/1/28 | 75 | ||||||||||||
240 | Freddie Mac, Pool #J26408 | 2.50 | 11/1/28 | 237 | ||||||||||||
42 | Freddie Mac, Pool #C91904 | 2.50 | 11/1/36 | 40 | ||||||||||||
72 | Freddie Mac, Pool #C09026 | 2.50 | 2/1/43 | 68 | ||||||||||||
62 | Freddie Mac, Pool #G08540 | 3.00 | 8/1/43 | 61 | ||||||||||||
29 | Freddie Mac, Pool #J14241 | 3.00 | 1/1/26 | 29 | ||||||||||||
48 | Freddie Mac, Pool #J38057 | 3.00 | 12/1/32 | 48 | ||||||||||||
317 | Freddie Mac, Pool #J17774 | 3.00 | 1/1/27 | 318 | ||||||||||||
244 | Freddie Mac, Pool #C04446 | 3.00 | 1/1/43 | 240 | ||||||||||||
329 | Freddie Mac, Pool #G08635 | 3.00 | 4/1/45 | 322 | ||||||||||||
15 | Freddie Mac, Pool #J17111 | 3.00 | 10/1/26 | 15 | ||||||||||||
96 | Freddie Mac, Pool #J38675 | 3.00 | 3/1/33 | 95 | ||||||||||||
46 | Freddie Mac, Pool #J38807 | 3.00 | 4/1/33 | 46 | ||||||||||||
13 | Freddie Mac, Pool #Q13086 | 3.00 | 11/1/42 | 13 | ||||||||||||
58 | Freddie Mac, Pool #G30945 | 3.00 | 9/1/36 | 57 | ||||||||||||
264 | Freddie Mac, Pool #G08525 | 3.00 | 5/1/43 | 259 | ||||||||||||
21 | Freddie Mac, Pool #G30999 | 3.00 | 2/1/37 | 21 | ||||||||||||
50 | Freddie Mac, Pool #Q18599 | 3.00 | 6/1/43 | 49 | ||||||||||||
98 | Freddie Mac, Pool #J36428 | 3.00 | 2/1/32 | 97 | ||||||||||||
270 | Freddie Mac, Pool #C04619 | 3.00 | 3/1/43 | 265 | ||||||||||||
166 | Freddie Mac, Pool #Q20067 | 3.00 | 7/1/43 | 163 | ||||||||||||
99 | Freddie Mac, Pool #G18715 | 3.00 | 11/1/33 | 99 | ||||||||||||
181 | Freddie Mac, Pool #C04422 | 3.00 | 12/1/42 | 178 | ||||||||||||
199 | Freddie Mac, Pool #G08850 | 3.00 | 9/1/48 | 194 | ||||||||||||
299 | Freddie Mac, Pool #G08855 | 3.00 | 10/1/48 | 291 | ||||||||||||
479 | Freddie Mac, Pool #G08534 | 3.00 | 6/1/43 | 471 | ||||||||||||
1,353 | Freddie Mac, Pool #G08537 | 3.00 | 7/1/43 | 1,331 | ||||||||||||
309 | Freddie Mac, Pool #Q16222 | 3.00 | 3/1/43 | 304 | ||||||||||||
17 | Freddie Mac, Pool #Q18882 | 3.00 | 5/1/43 | 17 | ||||||||||||
22 | Freddie Mac, Pool #C91949 | 3.00 | 9/1/37 | 22 | ||||||||||||
109 | Freddie Mac, Pool #C91707 | 3.00 | 6/1/33 | 109 | ||||||||||||
46 | Freddie Mac, Pool #C91969 | 3.00 | 1/1/38 | 46 | ||||||||||||
523 | Freddie Mac, Pool #Q21065 | 3.00 | 8/1/43 | 514 | ||||||||||||
21 | Freddie Mac, Pool #C91939 | 3.00 | 6/1/37 | 21 | ||||||||||||
41 | Freddie Mac, Pool #C91905 | 3.00 | 11/1/36 | 41 | ||||||||||||
415 | Freddie Mac, Pool #Q45735 | 3.00 | 1/1/47 | 405 | ||||||||||||
20 | Freddie Mac, Pool #Q39527 | 3.00 | 3/1/46 | 19 | ||||||||||||
115 | Freddie Mac, Pool #C91927 | 3.00 | 5/1/37 | 114 | ||||||||||||
43 | Freddie Mac, Pool #C91924 | 3.00 | 4/1/37 | 43 | ||||||||||||
103 | Freddie Mac, Pool #C91819 | 3.00 | 4/1/35 | 102 | ||||||||||||
226 | Freddie Mac, Pool #Q41795 | 3.00 | 7/1/46 | 220 | ||||||||||||
14 | Freddie Mac, Pool #C91809 | 3.00 | 2/1/35 | 14 |
See accompanying notes to financial statements.
171
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 32 | Freddie Mac, Pool #C91826 | 3.00 | 5/1/35 | $ | 31 | ||||||||||
262 | Freddie Mac, Pool #Q44452 | 3.00 | 11/1/46 | 256 | ||||||||||||
79 | Freddie Mac, Pool #C91798 | 3.00 | 12/1/34 | 78 | ||||||||||||
320 | Freddie Mac, Pool #Q43734 | 3.00 | 10/1/46 | 312 | ||||||||||||
211 | Freddie Mac, Pool #C91581 | 3.00 | 11/1/32 | 210 | ||||||||||||
187 | Freddie Mac, Pool #Q44665 | 3.00 | 11/1/46 | 182 | ||||||||||||
369 | Freddie Mac, Pool #Q45094 | 3.00 | 12/1/46 | 360 | ||||||||||||
196 | Freddie Mac, Pool #Q46441 | 3.00 | 2/1/47 | 191 | ||||||||||||
46 | Freddie Mac, Pool #J29932 | 3.00 | 11/1/29 | 46 | ||||||||||||
149 | Freddie Mac, Pool #C91724 | 3.00 | 9/1/33 | 149 | ||||||||||||
48 | Freddie Mac, Pool #J33135 | 3.00 | 11/1/30 | 47 | ||||||||||||
298 | Freddie Mac, Pool #G60187 | 3.00 | 8/1/45 | 292 | ||||||||||||
44 | Freddie Mac, Pool #C91943 | 3.00 | 7/1/37 | 44 | ||||||||||||
222 | Freddie Mac, Pool #G08825 | 3.00 | 6/1/48 | 216 | ||||||||||||
59 | Freddie Mac, Pool #Q19754 | 3.00 | 7/1/43 | 58 | ||||||||||||
334 | Freddie Mac, Pool #G60989 | 3.00 | 12/1/46 | 326 | ||||||||||||
218 | Freddie Mac, Pool #G15217 | 3.00 | 11/1/29 | 218 | ||||||||||||
139 | Freddie Mac, Pool #G08640 | 3.00 | 5/1/45 | 136 | ||||||||||||
200 | Freddie Mac, Pool #G08783 | 3.00 | 10/1/47 | 195 | ||||||||||||
114 | Freddie Mac, Pool #G08648 | 3.00 | 6/1/45 | 111 | ||||||||||||
139 | Freddie Mac, Pool #G18677 | 3.00 | 2/1/33 | 139 | ||||||||||||
360 | Freddie Mac, Pool #G08653 | 3.00 | 7/1/45 | 352 | ||||||||||||
480 | Freddie Mac, Pool #G08741 | 3.00 | 1/1/47 | 468 | ||||||||||||
365 | Freddie Mac, Pool #G18673 | 3.00 | 1/1/33 | 364 | ||||||||||||
88 | Freddie Mac, Pool #G18582 | 3.00 | 1/1/31 | 88 | ||||||||||||
443 | Freddie Mac, Pool #G08701 | 3.00 | 4/1/46 | 432 | ||||||||||||
194 | Freddie Mac, Pool #G15145 | 3.00 | 7/1/29 | 194 | ||||||||||||
154 | Freddie Mac, Pool #G18569 | 3.00 | 9/1/30 | 153 | ||||||||||||
46 | Freddie Mac, Pool #G18534 | 3.00 | 12/1/29 | 46 | ||||||||||||
58 | Freddie Mac, Pool #G18575 | 3.00 | 11/1/30 | 58 | ||||||||||||
163 | Freddie Mac, Pool #G18531 | 3.00 | 11/1/29 | 163 | ||||||||||||
177 | Freddie Mac, Pool #G08750 | 3.00 | 3/1/47 | 173 | ||||||||||||
169 | Freddie Mac, Pool #G08732 | 3.00 | 11/1/46 | 164 | ||||||||||||
128 | Freddie Mac, Pool #G08680 | 3.00 | 12/1/45 | 125 | ||||||||||||
89 | Freddie Mac, Pool #G08747 | 3.00 | 2/1/47 | 86 | ||||||||||||
256 | Freddie Mac, Pool #G08737 | 3.00 | 12/1/46 | 250 | ||||||||||||
235 | Freddie Mac, Pool #G18514 | 3.00 | 6/1/29 | 235 | ||||||||||||
192 | Freddie Mac, Pool #G18518 | 3.00 | 7/1/29 | 192 | ||||||||||||
233 | Freddie Mac, Pool #Q51461 | 3.50 | 10/1/47 | 233 | ||||||||||||
161 | Freddie Mac, Pool #Q37449 | 3.50 | 11/1/45 | 161 | ||||||||||||
119 | Freddie Mac, Pool #Q36040 | 3.50 | 9/1/45 | 120 | ||||||||||||
64 | Freddie Mac, Pool #Q31134 | 3.50 | 2/1/45 | 64 | ||||||||||||
668 | Freddie Mac, Pool #Q52319 | 3.50 | 11/1/47 | 668 | ||||||||||||
25 | Freddie Mac, Pool #Q55002 | 3.50 | 3/1/48 | 25 | ||||||||||||
345 | Freddie Mac, Pool #G08757 | 3.50 | 4/1/47 | 346 | ||||||||||||
274 | Freddie Mac, Pool #Q57871 | 3.50 | 8/1/48 | 274 | ||||||||||||
58 | Freddie Mac, Pool #J27494 | 3.50 | 2/1/29 | 59 | ||||||||||||
67 | Freddie Mac, Pool #C92003 | 3.50 | 7/1/38 | 68 | ||||||||||||
124 | Freddie Mac, Pool #Q58422 | 3.50 | 9/1/48 | 124 | ||||||||||||
389 | Freddie Mac, Pool #Q49490 | 3.50 | 7/1/47 | 390 | ||||||||||||
200 | Freddie Mac, Pool #Q53176 | 3.50 | 12/1/47 | 200 | ||||||||||||
42 | Freddie Mac, Pool #C91940 | 3.50 | 6/1/37 | 43 | ||||||||||||
131 | Freddie Mac, Pool #G08702 | 3.50 | 4/1/46 | 131 | ||||||||||||
64 | Freddie Mac, Pool #C03920 | 3.50 | 5/1/42 | 64 |
See accompanying notes to financial statements.
172
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 327 | Freddie Mac, Pool #G08681 | 3.50 | 12/1/45 | $ | 328 | ||||||||||
159 | Freddie Mac, Pool #G08687 | 3.50 | 1/1/46 | 159 | ||||||||||||
343 | Freddie Mac, Pool #G08693 | 3.50 | 3/1/46 | 345 | ||||||||||||
218 | Freddie Mac, Pool #J15105 | 3.50 | 4/1/26 | 221 | ||||||||||||
144 | Freddie Mac, Pool #G08733 | 3.50 | 11/1/46 | 145 | ||||||||||||
22 | Freddie Mac, Pool #J14232 | 3.50 | 1/1/21 | 23 | ||||||||||||
93 | Freddie Mac, Pool #J13582 | 3.50 | 11/1/25 | 94 | ||||||||||||
14 | Freddie Mac, Pool #E02735 | 3.50 | 10/1/25 | 15 | ||||||||||||
326 | Freddie Mac, Pool #G08761 | 3.50 | 5/1/47 | 327 | ||||||||||||
507 | Freddie Mac, Pool #G08766 | 3.50 | 6/1/47 | 508 | ||||||||||||
66 | Freddie Mac, Pool #C91950 | 3.50 | 9/1/37 | 67 | ||||||||||||
150 | Freddie Mac, Pool #G08706 | 3.50 | 5/1/46 | 151 | ||||||||||||
275 | Freddie Mac, Pool #G08654 | 3.50 | 7/1/45 | 276 | ||||||||||||
142 | Freddie Mac, Pool #G08698 | 3.50 | 3/1/46 | 143 | ||||||||||||
170 | Freddie Mac, Pool #C91456 | 3.50 | 6/1/32 | 173 | ||||||||||||
156 | Freddie Mac, Pool #C91403 | 3.50 | 3/1/32 | 159 | ||||||||||||
16 | Freddie Mac, Pool #C91760 | 3.50 | 5/1/34 | 16 | ||||||||||||
43 | Freddie Mac, Pool #C91742 | 3.50 | 1/1/34 | 43 | ||||||||||||
387 | Freddie Mac, Pool #G08650 | 3.50 | 6/1/45 | 388 | ||||||||||||
21 | Freddie Mac, Pool #C91925 | 3.50 | 4/1/37 | 21 | ||||||||||||
297 | Freddie Mac, Pool #G08641 | 3.50 | 5/1/45 | 299 | ||||||||||||
407 | Freddie Mac, Pool #G08627 | 3.50 | 2/1/45 | 409 | ||||||||||||
276 | Freddie Mac, Pool #G08667 | 3.50 | 9/1/45 | 277 | ||||||||||||
91 | Freddie Mac, Pool #J26144 | 3.50 | 10/1/23 | 92 | ||||||||||||
221 | Freddie Mac, Pool #G18707 | 3.50 | 9/1/33 | 224 | ||||||||||||
363 | Freddie Mac, Pool #G61148 | 3.50 | 9/1/47 | 364 | ||||||||||||
172 | Freddie Mac, Pool #Q08998 | 3.50 | 6/1/42 | 173 | ||||||||||||
906 | Freddie Mac, Pool #G08495 | 3.50 | 6/1/42 | 913 | ||||||||||||
42 | Freddie Mac, Pool #G14216 | 3.50 | 7/1/21 | 43 | ||||||||||||
261 | Freddie Mac, Pool #Q20860 | 3.50 | 8/1/43 | 263 | ||||||||||||
417 | Freddie Mac, Pool #G08554 | 3.50 | 10/1/43 | 420 | ||||||||||||
377 | Freddie Mac, Pool #G08562 | 3.50 | 1/1/44 | 380 | ||||||||||||
67 | Freddie Mac, Pool #G30776 | 3.50 | 7/1/35 | 68 | ||||||||||||
49 | Freddie Mac, Pool #G08792 | 3.50 | 12/1/47 | 49 | ||||||||||||
34 | Freddie Mac, Pool #G08620 | 3.50 | 12/1/44 | 34 | ||||||||||||
117 | Freddie Mac, Pool #Q12052 | 3.50 | 10/1/42 | 118 | ||||||||||||
223 | Freddie Mac, Pool #Q09896 | 3.50 | 8/1/42 | 225 | ||||||||||||
186 | Freddie Mac, Pool #Q08903 | 3.50 | 6/1/42 | 188 | ||||||||||||
132 | Freddie Mac, Pool #Q06749 | 3.50 | 3/1/42 | 133 | ||||||||||||
121 | Freddie Mac, Pool #Q04087 | 3.50 | 10/1/41 | 122 | ||||||||||||
92 | Freddie Mac, Pool #G08605 | 3.50 | 9/1/44 | 92 | ||||||||||||
149 | Freddie Mac, Pool #G08841 | 3.50 | 9/1/48 | 149 | ||||||||||||
147 | Freddie Mac, Pool #G08813 | 3.50 | 5/1/48 | 147 | ||||||||||||
292 | Freddie Mac, Pool #G08816 | 3.50 | 6/1/48 | 292 | ||||||||||||
93 | Freddie Mac, Pool #G08599 | 3.50 | 8/1/44 | 94 | ||||||||||||
464 | Freddie Mac, Pool #G08636 | 3.50 | 4/1/45 | 465 | ||||||||||||
451 | Freddie Mac, Pool #G08623 | 3.50 | 1/1/45 | 453 | ||||||||||||
474 | Freddie Mac, Pool #G08804 | 3.50 | 3/1/48 | 474 | ||||||||||||
277 | Freddie Mac, Pool #G08632 | 3.50 | 3/1/45 | 278 | ||||||||||||
209 | Freddie Mac, Pool #G08588 | 4.00 | 5/1/44 | 213 | ||||||||||||
158 | Freddie Mac, Pool #G08459 | 4.00 | 9/1/41 | 163 | ||||||||||||
67 | Freddie Mac, Pool #G08483 | 4.00 | 3/1/42 | 69 | ||||||||||||
196 | Freddie Mac, Pool #G08831 | 4.00 | 8/1/48 | 199 | ||||||||||||
206 | Freddie Mac, Pool #G08616 | 4.00 | 11/1/44 | 211 |
See accompanying notes to financial statements.
173
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 84 | Freddie Mac, Pool #C91738 | 4.00 | 11/1/33 | $ | 87 | ||||||||||
77 | Freddie Mac, Pool #C91765 | 4.00 | 6/1/34 | 80 | ||||||||||||
328 | Freddie Mac, Pool #G08660 | 4.00 | 8/1/45 | 335 | ||||||||||||
24 | Freddie Mac, Pool #G08633 | 4.00 | 3/1/45 | 24 | ||||||||||||
17 | Freddie Mac, Pool #J11263 | 4.00 | 11/1/19 | 18 | ||||||||||||
159 | Freddie Mac, Pool #C09070 | 4.00 | 12/1/44 | 163 | ||||||||||||
96 | Freddie Mac, Pool #G08601 | 4.00 | 8/1/44 | 98 | ||||||||||||
57 | Freddie Mac, Pool #G08672 | 4.00 | 10/1/45 | 58 | ||||||||||||
22 | Freddie Mac, Pool #J12435 | 4.00 | 6/1/25 | 22 | ||||||||||||
896 | Freddie Mac, Pool #A96286 | 4.00 | 1/1/41 | 922 | ||||||||||||
19 | Freddie Mac, Pool #C91923 | 4.00 | 3/1/37 | 19 | ||||||||||||
198 | Freddie Mac, Pool #G08595 | 4.00 | 7/1/44 | 203 | ||||||||||||
200 | Freddie Mac, Pool #G08767 | 4.00 | 6/1/47 | 204 | ||||||||||||
27 | Freddie Mac, Pool #J12238 | 4.00 | 5/1/20 | 27 | ||||||||||||
219 | Freddie Mac, Pool #Q24955 | 4.00 | 2/1/44 | 225 | ||||||||||||
255 | Freddie Mac, Pool #G06506 | 4.00 | 12/1/40 | 263 | ||||||||||||
421 | Freddie Mac, Pool #G08752 | 4.00 | 3/1/47 | 429 | ||||||||||||
118 | Freddie Mac, Pool #Q58680 | 4.00 | 9/1/48 | 121 | ||||||||||||
91 | Freddie Mac, Pool #Q34081 | 4.00 | 6/1/45 | 93 | ||||||||||||
159 | Freddie Mac, Pool #Q27594 | 4.00 | 8/1/44 | 163 | ||||||||||||
12 | Freddie Mac, Pool #Q27456 | 4.00 | 7/1/44 | 12 | ||||||||||||
274 | Freddie Mac, Pool #G08785 | 4.00 | 10/1/47 | 279 | ||||||||||||
343 | Freddie Mac, Pool #G08775 | 4.00 | 8/1/47 | 350 | ||||||||||||
16 | Freddie Mac, Pool #Z50032 | 4.00 | 4/1/19 | 17 | ||||||||||||
46 | Freddie Mac, Pool #C91994 | 4.00 | 5/1/38 | 48 | ||||||||||||
343 | Freddie Mac, Pool #V83344 | 4.00 | 8/1/47 | 350 | ||||||||||||
186 | Freddie Mac, Pool #G08618 | 4.00 | 12/1/44 | 190 | ||||||||||||
90 | Freddie Mac, Pool #G14453 | 4.00 | 6/1/26 | 93 | ||||||||||||
125 | Freddie Mac, Pool #G08637 | 4.00 | 4/1/45 | 128 | ||||||||||||
281 | Freddie Mac, Pool #G08669 | 4.00 | 9/1/45 | 287 | ||||||||||||
164 | Freddie Mac, Pool #G08567 | 4.00 | 1/1/44 | 168 | ||||||||||||
49 | Freddie Mac, POOL #C92019 | 4.00 | 10/1/38 | 50 | ||||||||||||
14 | Freddie Mac, Pool #G08642 | 4.00 | 5/1/45 | 14 | ||||||||||||
158 | Freddie Mac, Pool #A97495 | 4.50 | 3/1/41 | 166 | ||||||||||||
1,578 | Freddie Mac, Pool #A97692 | 4.50 | 3/1/41 | 1,653 | ||||||||||||
198 | Freddie Mac, Pool #G08820 | 4.50 | 5/1/48 | 205 | ||||||||||||
12 | Freddie Mac, Pool #E02862 | 4.50 | 3/1/26 | 13 | ||||||||||||
36 | Freddie Mac, Pool #A90437 | 4.50 | 1/1/40 | 38 | ||||||||||||
49 | Freddie Mac, Pool #G08596 | 4.50 | 7/1/44 | 51 | ||||||||||||
126 | Freddie Mac, Pool #G08754 | 4.50 | 3/1/47 | 130 | ||||||||||||
223 | Freddie Mac, Pool #G08759 | 4.50 | 4/1/47 | 231 | ||||||||||||
197 | Freddie Mac, Pool #Q57957 | 4.50 | 8/1/48 | 204 | ||||||||||||
24 | Freddie Mac, Pool #J07849 | 4.50 | 5/1/23 | 25 | ||||||||||||
60 | Freddie Mac, Pool #G08781 | 4.50 | 9/1/47 | 62 | ||||||||||||
24 | Freddie Mac, Pool #C09059 | 4.50 | 3/1/44 | 25 | ||||||||||||
58 | Freddie Mac, Pool #G60512 | 4.50 | 12/1/45 | 60 | ||||||||||||
191 | Freddie Mac, Pool #G08827 | 4.50 | 7/1/48 | 198 | ||||||||||||
19 | Freddie Mac, Pool #Q25432 | 4.50 | 3/1/44 | 20 | ||||||||||||
34 | Freddie Mac, Pool #Q49599 | 4.50 | 7/1/47 | 35 | ||||||||||||
42 | Freddie Mac, Pool #Q22671 | 4.50 | 11/1/43 | 44 | ||||||||||||
550 | Freddie Mac, Pool #C01598 | 5.00 | 8/1/33 | 584 | ||||||||||||
49 | Freddie Mac, Pool #G08838 | 5.00 | 9/1/48 | 51 | ||||||||||||
16 | Freddie Mac, Pool #G07068 | 5.00 | 7/1/41 | 17 | ||||||||||||
211 | Freddie Mac, Pool #Q00763 | 5.00 | 5/1/41 | 222 |
See accompanying notes to financial statements.
174
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 37 | Freddie Mac, Pool #G05205 | 5.00 | 1/1/39 | $ | 39 | ||||||||||
41 | Freddie Mac, Pool #G13255 | 5.00 | 7/1/23 | 43 | ||||||||||||
243 | Freddie Mac, Pool #G04913 | 5.00 | 3/1/38 | 257 | ||||||||||||
75 | Freddie Mac, Pool #G06031 | 5.50 | 3/1/40 | 81 | ||||||||||||
3 | Freddie Mac, Pool #G06091 | 5.50 | 5/1/40 | 3 | ||||||||||||
621 | Freddie Mac, Pool #G01665 | 5.50 | 3/1/34 | 671 | ||||||||||||
58 | Freddie Mac, Pool #G03551 | 6.00 | 11/1/37 | 63 | ||||||||||||
285 | Freddie Mac, Pool #G02794 | 6.00 | 5/1/37 | 312 | ||||||||||||
35 | Freddie Mac, Pool #G05709 | 6.00 | 6/1/38 | 38 | ||||||||||||
16 | Freddie Mac, Pool #A62706 | 6.00 | 6/1/37 | 17 | ||||||||||||
25 | Freddie Mac, Gold 15 YR TBA | 3.00 | 1/15/33 | 25 | ||||||||||||
200 | Freddie Mac, Gold 15 YR TBA | 3.50 | 1/15/31 | 202 | ||||||||||||
50 | Freddie Mac, Gold 15 YR TBA | 4.00 | 1/15/33 | 51 | ||||||||||||
1,625 | Freddie Mac, Gold 30 YR TBA | 3.50 | 1/15/48 | 1,625 | ||||||||||||
275 | Freddie Mac, Gold 30 YR TBA | 4.00 | 2/15/48 | 280 | ||||||||||||
4,425 | Freddie Mac, Gold 30 YR TBA | 4.00 | 1/15/48 | 4,512 | ||||||||||||
225 | Freddie Mac, Gold 30 YR TBA | 4.50 | 2/15/47 | 233 | ||||||||||||
900 | Freddie Mac, Gold 30 YR TBA | 4.50 | 1/15/48 | 932 | ||||||||||||
150 | Freddie Mac, Gold 30 YR TBA | 5.00 | 2/15/48 | 157 | ||||||||||||
169 | Government National Mortgage Association, Pool #MA4125 | 2.50 | 12/20/46 | 162 | ||||||||||||
73 | Government National Mortgage Association, Pool #MA0601 | 2.50 | 12/20/27 | 72 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA0908 | 2.50 | 4/20/28 | 41 | ||||||||||||
47 | Government National Mortgage Association, Pool #MA4717 | 2.50 | 9/20/47 | 45 | ||||||||||||
40 | Government National Mortgage Association, Pool #MA1133 | 2.50 | 7/20/28 | 39 | ||||||||||||
81 | Government National Mortgage Association, Pool #MA1283 | 2.50 | 9/20/43 | 78 | ||||||||||||
74 | Government National Mortgage Association, Pool #AA8341 | 2.50 | 2/15/28 | 73 | ||||||||||||
41 | Government National Mortgage Association, Pool #MA4424 | 2.50 | 5/20/32 | 40 | ||||||||||||
15 | Government National Mortgage Association, Pool #711729 | 2.50 | 3/15/43 | 14 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA4194 | 2.50 | 1/20/47 | 41 | ||||||||||||
17 | Government National Mortgage Association, Pool #MA2890 | 2.50 | 6/20/45 | 17 | ||||||||||||
20 | Government National Mortgage Association, Pool #MA4355 | 2.50 | 4/20/32 | 20 | ||||||||||||
27 | Government National Mortgage Association, Pool #776954 | �� | 2.50 | 11/15/42 | 26 | |||||||||||
64 | Government National Mortgage Association, Pool #MA4067 | 2.50 | 11/20/46 | 62 | ||||||||||||
55 | Government National Mortgage Association, Pool #AG0440 | 3.00 | 8/15/43 | 54 | ||||||||||||
16 | Government National Mortgage Association, Pool #5276 | 3.00 | 1/20/27 | 16 | ||||||||||||
260 | Government National Mortgage Association, Pool #MA3033 | 3.00 | 8/20/45 | 257 | ||||||||||||
203 | Government National Mortgage Association, Pool #MA3104 | 3.00 | 9/20/45 | 201 | ||||||||||||
726 | Government National Mortgage Association, Pool #MA4899 | 3.00 | 12/20/47 | 715 | ||||||||||||
165 | Government National Mortgage Association, Pool #MA2753 | 3.00 | 4/20/45 | 163 | ||||||||||||
366 | Government National Mortgage Association, Pool #MA5018 | 3.00 | 2/20/48 | 360 | ||||||||||||
22 | Government National Mortgage Association, Pool #MA4935 | 3.00 | 1/20/33 | 22 | ||||||||||||
25 | Government National Mortgage Association, Pool #MA1890 | 3.00 | 5/20/29 | 25 | ||||||||||||
198 | Government National Mortgage Association, Pool #MA2960 | 3.00 | 7/20/45 | 196 | ||||||||||||
183 | Government National Mortgage Association, Pool #MA3172 | 3.00 | 10/20/45 | 180 | ||||||||||||
774 | Government National Mortgage Association, Pool #MA5076 | 3.00 | 3/20/48 | 763 | ||||||||||||
249 | Government National Mortgage Association, Pool #MA4381 | 3.00 | 4/20/47 | 245 | ||||||||||||
42 | Government National Mortgage Association, Pool #MA2797 | 3.00 | 5/20/30 | 42 | ||||||||||||
21 | Government National Mortgage Association, Pool #AL5058 | 3.00 | 3/15/45 | 20 | ||||||||||||
79 | Government National Mortgage Association, Pool #MA2600 | 3.00 | 2/20/45 | 78 | ||||||||||||
239 | Government National Mortgage Association, Pool #AA6149 | 3.00 | 3/20/43 | 236 | ||||||||||||
29 | Government National Mortgage Association, Pool #AA2934 | 3.00 | 7/15/42 | 28 | ||||||||||||
124 | Government National Mortgage Association, Pool #AA2654 | 3.00 | 6/15/43 | 123 | ||||||||||||
89 | Government National Mortgage Association, Pool #MA0851 | 3.00 | 3/20/43 | 88 | ||||||||||||
123 | Government National Mortgage Association, Pool #779084 | 3.00 | 4/15/42 | 122 |
See accompanying notes to financial statements.
175
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 373 | Government National Mortgage Association, Pool #MA0391 | 3.00 | 9/20/42 | $ | 370 | ||||||||||
209 | Government National Mortgage Association, Pool #MA0461 | 3.00 | 10/20/42 | 208 | ||||||||||||
231 | Government National Mortgage Association, Pool #MA0153 | 3.00 | 6/20/42 | 229 | ||||||||||||
234 | Government National Mortgage Association, Pool #MA1374 | 3.00 | 10/20/43 | 232 | ||||||||||||
74 | Government National Mortgage Association, Pool #MA1265 | 3.00 | 9/20/28 | 75 | ||||||||||||
86 | Government National Mortgage Association, Pool #MA0205 | 3.00 | 7/20/27 | 86 | ||||||||||||
1,312 | Government National Mortgage Association, Pool #MA0624 | 3.00 | 12/20/42 | 1,302 | ||||||||||||
207 | Government National Mortgage Association, Pool #MA2825 | 3.00 | 5/20/45 | 204 | ||||||||||||
264 | Government National Mortgage Association, Pool #AD8433 | 3.00 | 7/15/43 | 262 | ||||||||||||
313 | Government National Mortgage Association, Pool #MA2147 | 3.00 | 8/20/44 | 311 | ||||||||||||
32 | Government National Mortgage Association, Pool #AN5756 | 3.00 | 7/15/45 | 31 | ||||||||||||
40 | Government National Mortgage Association, Pool #AK7285 | 3.00 | 3/15/45 | 40 | ||||||||||||
94 | Government National Mortgage Association, Pool #MA4836 | 3.00 | 11/20/47 | 93 | ||||||||||||
231 | Government National Mortgage Association, Pool #MA3309 | 3.00 | 12/20/45 | 228 | ||||||||||||
318 | Government National Mortgage Association, Pool #MA3802 | 3.00 | 7/20/46 | 314 | ||||||||||||
219 | Government National Mortgage Association, Pool #MA3735 | 3.00 | 6/20/46 | 216 | ||||||||||||
269 | Government National Mortgage Association, Pool #MA3596 | 3.00 | 4/20/46 | 265 | ||||||||||||
282 | Government National Mortgage Association, Pool #MA3662 | 3.00 | 5/20/46 | 278 | ||||||||||||
368 | Government National Mortgage Association, Pool #MA4777 | 3.00 | 10/20/47 | 362 | ||||||||||||
332 | Government National Mortgage Association, Pool #MA4450 | 3.00 | 5/20/47 | 327 | ||||||||||||
247 | Government National Mortgage Association, Pool #MA4195 | 3.00 | 1/20/47 | 243 | ||||||||||||
92 | Government National Mortgage Association, Pool #MA3520 | 3.00 | 3/20/46 | 91 | ||||||||||||
81 | Government National Mortgage Association, Pool #MA4559 | 3.00 | 7/20/32 | 81 | ||||||||||||
230 | Government National Mortgage Association, Pool #MA3873 | 3.00 | 8/20/46 | 227 | ||||||||||||
334 | Government National Mortgage Association, Pool #MA3936 | 3.00 | 9/20/46 | 329 | ||||||||||||
339 | Government National Mortgage Association, Pool #MA2520 | 3.00 | 1/20/45 | 335 | ||||||||||||
474 | Government National Mortgage Association, Pool #MA4651 | 3.00 | 8/20/47 | 466 | ||||||||||||
725 | Government National Mortgage Association, Pool #MA4126 | 3.00 | 12/20/46 | 714 | ||||||||||||
129 | Government National Mortgage Association, Pool #MA4068 | 3.00 | 11/20/46 | 127 | ||||||||||||
239 | Government National Mortgage Association, Pool #MA4509 | 3.00 | 6/20/47 | 235 | ||||||||||||
218 | Government National Mortgage Association, Pool #MA2444 | 3.00 | 12/20/44 | 216 | ||||||||||||
245 | Government National Mortgage Association, Pool #MA4320 | 3.00 | 3/20/47 | 241 | ||||||||||||
156 | Government National Mortgage Association, Pool #MA1838 | 3.50 | 4/20/44 | 158 | ||||||||||||
389 | Government National Mortgage Association, Pool #MA4382 | 3.50 | 4/20/47 | 392 | ||||||||||||
358 | Government National Mortgage Association, Pool #MA1090 | 3.50 | 6/20/43 | 362 | ||||||||||||
261 | Government National Mortgage Association, Pool #MA4778 | 3.50 | 10/20/47 | 263 | ||||||||||||
153 | Government National Mortgage Association, Pool #MA2371 | 3.50 | 11/20/44 | 154 | ||||||||||||
288 | Government National Mortgage Association, Pool #MA2678 | 3.50 | 3/20/45 | 291 | ||||||||||||
312 | Government National Mortgage Association, Pool #MA3597 | 3.50 | 4/20/46 | 315 | ||||||||||||
309 | Government National Mortgage Association, Pool #MA2892 | 3.50 | 6/20/45 | 312 | ||||||||||||
306 | Government National Mortgage Association, Pool #AM4971 | 3.50 | 4/20/45 | 308 | ||||||||||||
316 | Government National Mortgage Association, Pool #MA4262 | 3.50 | 2/20/47 | 318 | ||||||||||||
22 | Government National Mortgage Association, Pool #AL8566 | 3.50 | 3/15/45 | 22 | ||||||||||||
305 | Government National Mortgage Association, Pool #MA2303 | 3.50 | 10/20/44 | 308 | ||||||||||||
429 | Government National Mortgage Association, Pool #MA3521 | 3.50 | 3/20/46 | 433 | ||||||||||||
187 | Government National Mortgage Association, Pool #MA0699 | 3.50 | 1/20/43 | 190 | ||||||||||||
392 | Government National Mortgage Association, Pool #MA4719 | 3.50 | 9/20/47 | 395 | ||||||||||||
258 | Government National Mortgage Association, Pool #MA4510 | 3.50 | 6/20/47 | 260 | ||||||||||||
380 | Government National Mortgage Association, Pool #MA0462 | 3.50 | 10/20/42 | 385 | ||||||||||||
273 | Government National Mortgage Association, Pool #MA0088 | 3.50 | 5/20/42 | 276 | ||||||||||||
30 | Government National Mortgage Association, Pool #MA1574 | 3.50 | 1/20/29 | 30 | ||||||||||||
126 | Government National Mortgage Association, Pool #778157 | 3.50 | 3/15/42 | 127 | ||||||||||||
265 | Government National Mortgage Association, Pool #MA4586 | 3.50 | 7/20/47 | 267 | ||||||||||||
216 | Government National Mortgage Association, Pool #MA0022 | 3.50 | 4/20/42 | 219 |
See accompanying notes to financial statements.
176
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 696 | Government National Mortgage Association, Pool #MA0220 | 3.50 | 7/20/42 | $ | 704 | ||||||||||
179 | Government National Mortgage Association, Pool #MA2445 | 3.50 | 12/20/44 | 181 | ||||||||||||
36 | Government National Mortgage Association, Pool #796271 | 3.50 | 7/15/42 | 36 | ||||||||||||
370 | Government National Mortgage Association, Pool #MA1157 | 3.50 | 7/20/43 | 375 | ||||||||||||
359 | Government National Mortgage Association, Pool #MA4652 | 3.50 | 8/20/47 | 362 | ||||||||||||
361 | Government National Mortgage Association, Pool #MA4321 | 3.50 | 3/20/47 | 363 | ||||||||||||
324 | Government National Mortgage Association, Pool #MA0934 | 3.50 | 4/20/43 | 328 | ||||||||||||
18 | Government National Mortgage Association, Pool #MA1266 | 3.50 | 9/20/28 | 18 | ||||||||||||
319 | Government National Mortgage Association, Pool #MA0852 | 3.50 | 3/20/43 | 324 | ||||||||||||
363 | Government National Mortgage Association, Pool #MA4127 | 3.50 | 12/20/46 | 366 | ||||||||||||
237 | Government National Mortgage Association, Pool #MA3736 | 3.50 | 6/20/46 | 239 | ||||||||||||
340 | Government National Mortgage Association, Pool #MA3244 | 3.50 | 11/20/45 | 343 | ||||||||||||
228 | Government National Mortgage Association, Pool #MA3310 | 3.50 | 12/20/45 | 230 | ||||||||||||
473 | Government National Mortgage Association, Pool #MA4196 | 3.50 | 1/20/47 | 476 | ||||||||||||
307 | Government National Mortgage Association, Pool #MA3376 | 3.50 | 1/20/46 | 309 | ||||||||||||
173 | Government National Mortgage Association, Pool #MA3454 | 3.50 | 2/20/46 | 175 | ||||||||||||
202 | Government National Mortgage Association, Pool #MA2754 | 3.50 | 4/20/45 | 204 | ||||||||||||
69 | Government National Mortgage Association, Pool #740798 | 3.50 | 1/15/42 | 70 | ||||||||||||
80 | Government National Mortgage Association, Pool #738602 | 3.50 | 8/15/26 | 81 | ||||||||||||
287 | Government National Mortgage Association, Pool #MA3937 | 3.50 | 9/20/46 | 289 | ||||||||||||
132 | Government National Mortgage Association, Pool #MA1919 | 3.50 | 5/20/44 | 133 | ||||||||||||
498 | Government National Mortgage Association, Pool #MA2073 | 3.50 | 7/20/44 | 503 | ||||||||||||
326 | Government National Mortgage Association, Pool #MA4004 | 3.50 | 10/20/46 | 328 | ||||||||||||
692 | Government National Mortgage Association, Pool #MA2148 | 3.50 | 8/20/44 | 699 | ||||||||||||
246 | Government National Mortgage Association, Pool #MA3874 | 3.50 | 8/20/46 | 248 | ||||||||||||
297 | Government National Mortgage Association, Pool #MA4069 | 3.50 | 11/20/46 | 299 | ||||||||||||
276 | Government National Mortgage Association, Pool #MA3803 | 3.50 | 7/20/46 | 278 | ||||||||||||
372 | Government National Mortgage Association, Pool #MA4837 | 3.50 | 11/20/47 | 374 | ||||||||||||
146 | Government National Mortgage Association, Pool #AC3938 | 3.50 | 1/15/43 | 147 | ||||||||||||
671 | Government National Mortgage Association, Pool #MA5136 | 3.50 | 4/20/48 | 676 | ||||||||||||
228 | Government National Mortgage Association, Pool #MA2961 | 3.50 | 7/20/45 | 230 | ||||||||||||
81 | Government National Mortgage Association, Pool #AD2954 | 3.50 | 7/15/44 | 81 | ||||||||||||
187 | Government National Mortgage Association, Pool #783976 | 3.50 | 4/20/43 | 189 | ||||||||||||
60 | Government National Mortgage Association, Pool #AD2416 | 3.50 | 5/15/43 | 60 | ||||||||||||
121 | Government National Mortgage Association, Pool #BD5909 | 3.50 | 10/15/47 | 122 | ||||||||||||
374 | Government National Mortgage Association, Pool #MA4900 | 3.50 | 12/20/47 | 377 | ||||||||||||
445 | Government National Mortgage Association, Pool #MA3173 | 3.50 | 10/20/45 | 449 | ||||||||||||
167 | Government National Mortgage Association, Pool #MA4451 | 3.50 | 5/20/47 | 168 | ||||||||||||
260 | Government National Mortgage Association, Pool #MA3663 | 3.50 | 5/20/46 | 262 | ||||||||||||
192 | Government National Mortgage Association, Pool #MA4962 | 3.50 | 1/20/48 | 193 | ||||||||||||
265 | Government National Mortgage Association, Pool #MA5263 | 3.50 | 6/20/48 | 267 | ||||||||||||
381 | Government National Mortgage Association, Pool #MA3034 | 3.50 | 8/20/45 | 385 | ||||||||||||
261 | Government National Mortgage Association, Pool #MA2074 | 4.00 | 7/20/44 | 269 | ||||||||||||
267 | Government National Mortgage Association, Pool #MA1839 | 4.00 | 4/20/44 | 276 | ||||||||||||
98 | Government National Mortgage Association, Pool #MA1996 | 4.00 | 6/20/44 | 101 | ||||||||||||
137 | Government National Mortgage Association, Pool #MA0319 | 4.00 | 8/20/42 | 141 | ||||||||||||
221 | Government National Mortgage Association, Pool #MA2224 | 4.00 | 9/20/44 | 228 | ||||||||||||
157 | Government National Mortgage Association, Pool #713876 | 4.00 | 8/15/39 | 161 | ||||||||||||
85 | Government National Mortgage Association, Pool #AB1483 | 4.00 | 8/15/42 | 87 | ||||||||||||
34 | Government National Mortgage Association, Pool #MA3174 | 4.00 | 10/20/45 | 35 | ||||||||||||
63 | Government National Mortgage Association, Pool #MA3455 | 4.00 | 2/20/46 | 65 | ||||||||||||
62 | Government National Mortgage Association, Pool #MA0155 | 4.00 | 6/20/42 | 64 | ||||||||||||
177 | Government National Mortgage Association, Pool #MA3377 | 4.00 | 1/20/46 | 182 | ||||||||||||
57 | Government National Mortgage Association, Pool #MA3106 | 4.00 | 9/20/45 | 59 |
See accompanying notes to financial statements.
177
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 192 | Government National Mortgage Association, Pool #MA2304 | 4.00 | 10/20/44 | $ | 197 | ||||||||||
95 | Government National Mortgage Association, Pool #MA3245 | 4.00 | 11/20/45 | 98 | ||||||||||||
179 | Government National Mortgage Association, Pool #MA1449 | 4.00 | 11/20/43 | 185 | �� | |||||||||||
102 | Government National Mortgage Association, Pool #MA2602 | 4.00 | 2/20/45 | 105 | ||||||||||||
197 | Government National Mortgage Association, Pool #MA3598 | 4.00 | 4/20/46 | 202 | ||||||||||||
86 | Government National Mortgage Association, Pool #MA2149 | 4.00 | 8/20/44 | 88 | ||||||||||||
153 | Government National Mortgage Association, Pool #MA2522 | 4.00 | 1/20/45 | 158 | ||||||||||||
43 | Government National Mortgage Association, Pool #766495 | 4.00 | 10/15/41 | 45 | ||||||||||||
66 | Government National Mortgage Association, Pool #738710 | 4.00 | 9/15/41 | 68 | ||||||||||||
53 | Government National Mortgage Association, Pool #740068 | 4.00 | 9/15/40 | 55 | ||||||||||||
61 | Government National Mortgage Association, Pool #753254 | 4.00 | 9/15/43 | 63 | ||||||||||||
34 | Government National Mortgage Association, Pool #779401 | 4.00 | 6/15/42 | 34 | ||||||||||||
484 | Government National Mortgage Association, Pool #MA4452 | 4.00 | 5/20/47 | 496 | ||||||||||||
116 | Government National Mortgage Association, Pool #MA3737 | 4.00 | 6/20/46 | 119 | ||||||||||||
565 | Government National Mortgage Association, Pool #MA4587 | 4.00 | 7/20/47 | 579 | ||||||||||||
210 | Government National Mortgage Association, Pool #MA4197 | 4.00 | 1/20/47 | 215 | ||||||||||||
504 | Government National Mortgage Association, Pool #5139 | 4.00 | 8/20/41 | 520 | ||||||||||||
329 | Government National Mortgage Association, Pool #MA4653 | 4.00 | 8/20/47 | 338 | ||||||||||||
92 | Government National Mortgage Association, Pool #AD5627 | 4.00 | 4/15/43 | 95 | ||||||||||||
15 | Government National Mortgage Association, Pool #AJ2722 | 4.00 | 8/15/44 | 15 | ||||||||||||
119 | Government National Mortgage Association, Pool #AM8203 | 4.00 | 5/15/45 | 122 | ||||||||||||
36 | Government National Mortgage Association, Pool #4922 | 4.00 | 1/20/41 | 37 | ||||||||||||
293 | Government National Mortgage Association, Pool #MA4383 | 4.00 | 4/20/47 | 301 | ||||||||||||
49 | Government National Mortgage Association, Pool #AV6086 | 4.00 | 7/15/47 | 51 | ||||||||||||
302 | Government National Mortgage Association, Pool #MA4511 | 4.00 | 6/20/47 | 310 | ||||||||||||
93 | Government National Mortgage Association, Pool #MA1286 | 4.00 | 9/20/43 | 96 | ||||||||||||
136 | Government National Mortgage Association, Pool #MA1678 | 4.00 | �� | 2/20/44 | 141 | |||||||||||
194 | Government National Mortgage Association, Pool #MA4263 | 4.00 | 2/20/47 | 199 | ||||||||||||
178 | Government National Mortgage Association, Pool #MA1376 | 4.00 | 10/20/43 | 184 | ||||||||||||
225 | Government National Mortgage Association, Pool #MA1761 | 4.00 | 3/20/44 | 232 | ||||||||||||
88 | Government National Mortgage Association, Pool #MA4322 | 4.00 | 3/20/47 | 91 | ||||||||||||
32 | Government National Mortgage Association, Pool #MA4129 | 4.50 | 12/20/46 | 33 | ||||||||||||
698 | Government National Mortgage Association, Pool #4801 | 4.50 | 9/20/40 | 733 | ||||||||||||
41 | Government National Mortgage Association, Pool #738793 | 4.50 | 9/15/41 | 42 | ||||||||||||
501 | Government National Mortgage Association, Pool #721760 | 4.50 | 8/15/40 | 523 | ||||||||||||
232 | Government National Mortgage Association, Pool #717148 | 4.50 | 5/15/39 | 242 | ||||||||||||
166 | Government National Mortgage Association, Pool #5260 | 4.50 | 12/20/41 | 174 | ||||||||||||
40 | Government National Mortgage Association, Pool #729511 | 4.50 | 4/15/40 | 42 | ||||||||||||
168 | Government National Mortgage Association, Pool #MA4512 | 4.50 | 6/20/47 | 174 | ||||||||||||
69 | Government National Mortgage Association, Pool #MA3805 | 4.50 | 7/20/46 | 73 | ||||||||||||
54 | Government National Mortgage Association, Pool #MA1092 | 4.50 | 6/20/43 | 57 | ||||||||||||
179 | Government National Mortgage Association, Pool #MA1762 | 4.50 | 3/20/44 | 188 | ||||||||||||
96 | Government National Mortgage Association, Pool #MA4780 | 4.50 | 10/20/47 | 99 | ||||||||||||
175 | Government National Mortgage Association, Pool #MA2756 | 4.50 | 4/20/45 | 183 | ||||||||||||
119 | Government National Mortgage Association, Pool #MA0701 | 4.50 | 1/20/43 | 124 | ||||||||||||
48 | Government National Mortgage Association, Pool #BB7097 | 4.50 | 8/15/47 | 50 | ||||||||||||
26 | Government National Mortgage Association, Pool #BC0597 | 4.50 | 8/15/47 | 27 | ||||||||||||
227 | Government National Mortgage Association, Pool #MA4384 | 4.50 | 4/20/47 | 236 | ||||||||||||
76 | Government National Mortgage Association, Pool #MA4721 | 4.50 | 9/20/47 | 79 | ||||||||||||
105 | Government National Mortgage Association, Pool #MA2076 | 5.00 | 7/20/44 | 111 | ||||||||||||
81 | Government National Mortgage Association, Pool #MA4007 | 5.00 | 10/20/46 | 86 | ||||||||||||
29 | Government National Mortgage Association, Pool #782468 | 5.00 | 11/15/38 | 30 | ||||||||||||
495 | Government National Mortgage Association, Pool #4559 | 5.00 | 10/20/39 | 526 | ||||||||||||
77 | Government National Mortgage Association, Pool #712690 | 5.00 | 4/15/39 | 82 |
See accompanying notes to financial statements.
178
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
U.S. Government Agency Mortgages (continued) | ||||||||||||||||
$ | 19 | Government National Mortgage Association, Pool #MA0465 | 5.00 | 10/20/42 | $ | 20 | ||||||||||
219 | Government National Mortgage Association, Pool #MA5080 | 5.00 | 3/20/48 | 228 | ||||||||||||
104 | Government National Mortgage Association, Pool #694531 | 5.00 | 11/15/38 | 110 | ||||||||||||
106 | Government National Mortgage Association, Pool #604285 | 5.00 | 5/15/33 | 112 | ||||||||||||
32 | Government National Mortgage Association, Pool #675179 | 5.00 | 3/15/38 | 34 | ||||||||||||
206 | Government National Mortgage Association, Pool #782523 | 5.00 | 11/15/35 | 218 | ||||||||||||
152 | Government National Mortgage Association, Pool #783284 | 5.50 | 6/20/40 | 161 | ||||||||||||
39 | Government National Mortgage Association, Pool #658181 | 5.50 | 11/15/36 | 42 | ||||||||||||
19 | Government National Mortgage Association, Pool #MA0466 | 5.50 | 10/20/42 | 20 | ||||||||||||
106 | Government National Mortgage Association, Pool #510835 | 5.50 | 2/15/35 | 115 | ||||||||||||
80 | Government National Mortgage Association, Pool #4245 | 6.00 | 9/20/38 | 86 | ||||||||||||
71 | Government National Mortgage Association, Pool #4222 | 6.00 | 8/20/38 | 77 | ||||||||||||
64 | Government National Mortgage Association, Pool #781959 | 6.00 | 7/15/35 | 70 | ||||||||||||
33 | Government National Mortgage Association, Pool #699237 | 6.50 | 9/15/38 | 35 | ||||||||||||
2 | Government National Mortgage Association, Pool #690789 | 6.50 | 5/15/38 | 2 | ||||||||||||
450 | Government National Mortgage Association, 30 YR TBA | 3.00 | 1/20/49 | 443 | ||||||||||||
2,525 | Government National Mortgage Association, 30 YR TBA | 3.50 | 1/20/48 | 2,543 | ||||||||||||
4,425 | Government National Mortgage Association, 30 YR TBA | 4.00 | 1/20/49 | 4,533 | ||||||||||||
275 | Government National Mortgage Association, 30 YR TBA | 4.00 | 2/20/48 | 281 | ||||||||||||
2,400 | Government National Mortgage Association, 30 YR TBA | 4.50 | 1/20/48 | 2,484 | ||||||||||||
300 | Government National Mortgage Association, 30 YR TBA | 4.50 | 2/20/48 | 310 | ||||||||||||
400 | Government National Mortgage Association, 30 YR TBA | 5.00 | 11/20/48 | 416 | ||||||||||||
150 | Government National Mortgage Association, 30 YR TBA | 5.00 | 2/20/48 | 156 | ||||||||||||
|
| |||||||||||||||
Total U.S. Government Agency Mortgages | 186,020 | |||||||||||||||
|
| |||||||||||||||
Yankee Dollars — 0.20% | ||||||||||||||||
91 | Bank of Nova Scotia (Banks) | 1.85 | 4/14/20 | 90 | ||||||||||||
91 | Bank of Nova Scotia (Banks) | 2.13 | 9/11/19 | 91 | ||||||||||||
137 | Royal Bank of Canada (Banks) | 1.88 | 2/5/20 | 135 | ||||||||||||
91 | Royal Bank of Canada (Banks) | 2.20 | 9/23/19 | 91 | ||||||||||||
|
| |||||||||||||||
Total Yankee Dollars | 407 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Company — 13.38% | ||||||||||||||||
27,103,988 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (b) | 27,104 | ||||||||||||
|
| |||||||||||||||
Total Investment Company | 27,104 | |||||||||||||||
|
| |||||||||||||||
Total Investments Before TBA Sale Commitments (cost $232,500) — 113.40% | 229,734 | |||||||||||||||
|
| |||||||||||||||
Principal Amount (000) | ||||||||||||||||
TBA Sale Commitments (c) — (0.54)% | ||||||||||||||||
$ | (50 | ) | Fannie Mae, 15 YR TBA | 2.00 | 2/25/33 | (48 | ) | |||||||||
(75 | ) | Fannie Mae, 15 YR TBA | 2.50 | 1/25/32 | (73 | ) | ||||||||||
(25 | ) | Fannie Mae, 15 YR TBA | 2.50 | 2/25/33 | (24 | ) | ||||||||||
(25 | ) | Fannie Mae, 30 YR TBA | 2.50 | 2/25/47 | (24 | ) | ||||||||||
(475 | ) | Fannie Mae, 30 YR TBA | 3.00 | 1/25/49 | (463 | ) | ||||||||||
(75 | ) | Fannie Mae, 30 YR TBA | 3.00 | 2/25/48 | (73 | ) | ||||||||||
(100 | ) | Fannie Mae, 30 YR TBA | 5.50 | 1/25/49 | (106 | ) | ||||||||||
(125 | ) | Freddie Mac, Gold 15 YR TBA | 2.50 | 1/15/33 | (122 | ) | ||||||||||
(50 | ) | Freddie Mac, Gold 30 YR TBA | 3.00 | 2/15/48 | (49 | ) | ||||||||||
(100 | ) | Freddie Mac, Gold 30 YR TBA | 5.50 | 2/15/48 | (106 | ) | ||||||||||
(25 | ) | Government National Mortgage Association, 30 YR TBA | 2.50 | 2/20/48 | (24 | ) | ||||||||||
|
| |||||||||||||||
Total TBA Sale Commitments | (1,112 | ) | ||||||||||||||
|
| |||||||||||||||
Liabilities in excess of other assets — (12.86)% | (26,056 | ) | ||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 202,566 | ||||||||||||||
|
|
See accompanying notes to financial statements.
179
Table of Contents
HC CAPITAL TRUST
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | The rate for certain asset-backed and mortgage-backed securities may vary based on factors relating to the pool of assets underlying the security. The rate disclosed is the rate in effect on December 31, 2018. |
(b) | The rate disclosed is the rate in effect on December 31, 2018. |
(c) | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at this time. (See Note 2 in the Notes to Financial Statements.) |
TBA — To Be Announced purchase or sale commitment. Security is subject to delayed delivery
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | Mellon Investments Corporation* | HC Capital Solutions | Total | |||||||||
Asset Backed Securities | 1.70 | % | — | 1.70 | % | |||||||
Collateralized Mortgage Obligations | 6.30 | % | — | 6.30 | % | |||||||
U.S. Government Agency Mortgages | 91.82 | % | — | 91.82 | % | |||||||
Yankee Dollars | 0.20 | % | — | 0.20 | % | |||||||
Investment Company | 13.07 | % | 0.31 | % | 13.38 | % | ||||||
TBA Sale Commitments | -0.54 | % | — | -0.54 | % | |||||||
Other Assets (Liabilities) | -12.53 | % | -0.33 | % | -12.86 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 100.02 | % | -0.02 | %^ | 100.00 | % | ||||||
|
|
|
|
|
|
* | Formerly BNY Mellon Asset Management North America Corporation. |
^ | Temporarily represents a negative balance due to the timing of cash settlements. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
180
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 97.27% | ||||||||||||||||
Alabama — 3.83% | ||||||||||||||||
$ | 445 | Alabama Public School & College Authority Revenue, Series C | 5.00 | 9/1/19 | $ | 454 | ||||||||||
2,025 | County of Baldwin Alabama, GO, Callable 11/1/24 @ 100.00 | 5.00 | 5/1/25 | 2,331 | ||||||||||||
710 | University of Alabama Revenue, Series A, Callable 7/1/22 @ 100.00 | 5.00 | 7/1/23 | 782 | ||||||||||||
|
| |||||||||||||||
3,567 | ||||||||||||||||
|
| |||||||||||||||
Alaska — 1.61% | ||||||||||||||||
1,385 | Municipality of Anchorage Alaska, GO, Series B | 5.00 | 9/1/21 | 1,499 | ||||||||||||
|
| |||||||||||||||
Arizona — 2.79% | ||||||||||||||||
1,590 | Maricopa County Unified School District No. 48 Scottsdale, GO, Series48-B, | 4.25 | 7/1/25 | 1,683 | ||||||||||||
805 | County of Pima Arizona Sewer System Revenue | 5.00 | 7/1/23 | 908 | ||||||||||||
|
| |||||||||||||||
2,591 | ||||||||||||||||
|
| |||||||||||||||
Florida — 16.69% | ||||||||||||||||
1,245 | School District of Broward County Florida Revenue, Series A | 5.00 | 7/1/20 | 1,302 | ||||||||||||
1,400 | State of Florida Lottery Revenue, Series A | 5.00 | 7/1/20 | 1,466 | ||||||||||||
1,110 | State of Florida, GO, Series D | 5.00 | 6/1/20 | 1,160 | ||||||||||||
1,645 | State of Florida Department of Management Services Refunding Certificates of Participation, Series A | 5.00 | 11/1/23 | 1,865 | ||||||||||||
400 | State of Florida Department of Environmental Protection Preservation Revenue, Series A | 5.00 | 7/1/20 | 419 | ||||||||||||
950 | State of Florida Department of Education Revenue, Series A | 5.00 | 7/1/22 | 1,046 | ||||||||||||
1,950 | State of Florida Turnpike Enterprise Revenue, Series B | 5.00 | 7/1/21 | 2,100 | ||||||||||||
425 | JEA Florida Electric System Revenue, Series D | 5.00 | 10/1/22 | 464 | ||||||||||||
800 | JEA Florida Water & Sewer System Revenue, Series A | 5.00 | 10/1/20 | 841 | ||||||||||||
1,000 | County of Miami-Dade Florida, GO | 5.00 | 7/1/21 | 1,076 | ||||||||||||
1,060 | County of Miami-Dade Florida Transit System Revenue | 5.00 | 7/1/19 | 1,077 | ||||||||||||
420 | South Broward Florida Hospital District Revenue | 5.00 | 5/1/19 | 425 | ||||||||||||
2,105 | Tohopekaliga Water Authority Utility System Revenue, Series A(Pre-Refunded/Escrowed to Maturity) | 5.25 | 10/1/36 | 2,293 | ||||||||||||
|
| |||||||||||||||
15,534 | ||||||||||||||||
|
| |||||||||||||||
Georgia — 2.30% | ||||||||||||||||
2,000 | Bulloch County Board of Education, GO (State Aid Withholding) | 5.00 | 5/1/21 | 2,144 | ||||||||||||
|
| |||||||||||||||
Hawaii — 0.49% | ||||||||||||||||
425 | State of Hawaii, GO, Series EO | 5.00 | 8/1/21 | 459 | ||||||||||||
|
| |||||||||||||||
Illinois — 0.99% | ||||||||||||||||
425 | McHenry County Illinois Conservation District, GO | 5.00 | 2/1/20 | 439 | ||||||||||||
475 | Northbrook Illinois, GO, Series A | 5.00 | 12/1/19 | 488 | ||||||||||||
|
| |||||||||||||||
927 | ||||||||||||||||
|
| |||||||||||||||
Indiana — 0.45% | ||||||||||||||||
420 | Rush County Elementary School Building Corporation Revenue, Series A(Pre-Refunded/Escrowed to Maturity) (State Aid Withholding) | 5.00 | 7/15/19 | 420 | ||||||||||||
|
| |||||||||||||||
Iowa — 3.56% | ||||||||||||||||
1,155 | City of Ankeny, GO, Series A | 5.00 | 6/1/21 | 1,242 | ||||||||||||
1,440 | Ankeny Community School District, GO | 5.00 | 6/1/23 | 1,620 | ||||||||||||
450 | Waukee Community School District, GO, Series C | 5.00 | 6/1/19 | 456 | ||||||||||||
|
| |||||||||||||||
3,318 | ||||||||||||||||
|
| |||||||||||||||
Kentucky — 0.84% | ||||||||||||||||
685 | University of Kentucky, GO, Series A, Callable 4/1/24 @ 100.00 (State Intercept) | 5.00 | 4/1/25 | 781 | ||||||||||||
|
| |||||||||||||||
Maine — 1.56% | ||||||||||||||||
1,340 | Maine Municipal Bond Bank Revenue, Series B | 5.00 | 11/1/21 | 1,455 | ||||||||||||
|
|
See accompanying notes to financial statements.
181
Table of Contents
HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Maryland — 1.68% | ||||||||||||||||
$ | 450 | Maryland State, GO, Series A | 5.00 | 3/1/20 | $ | 467 | ||||||||||
1,000 | University System of Maryland, GO, Series A | 5.00 | 4/1/22 | 1,098 | ||||||||||||
|
| |||||||||||||||
1,565 | ||||||||||||||||
|
| |||||||||||||||
Massachusetts — 1.42% | ||||||||||||||||
1,300 | Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue, Series A | 5.00 | 6/15/19 | 1,319 | ||||||||||||
|
| |||||||||||||||
Michigan — 1.72% | ||||||||||||||||
1,040 | State of Michigan Trunk Line Revenue | 5.00 | 11/15/19 | 1,068 | ||||||||||||
500 | Oakland University Michigan Revenue | 5.00 | 3/1/21 | 531 | ||||||||||||
|
| |||||||||||||||
1,599 | ||||||||||||||||
|
| |||||||||||||||
Minnesota — 1.83% | ||||||||||||||||
1,165 | Minneapolis Special School District No. 1, GO, Series B (SD CRED PROG) | 4.00 | 2/1/19 | 1,167 | ||||||||||||
525 | Minnesota Higher Education Facilities Authority Revenue(Pre-Refunded/Escrowed to Maturity) | 5.00 | 10/1/21 | 537 | ||||||||||||
|
| |||||||||||||||
1,704 | ||||||||||||||||
|
| |||||||||||||||
Missouri — 1.24% | ||||||||||||||||
1,125 | University of Missouri Revenue, Series A | 5.00 | 11/1/19 | 1,155 | ||||||||||||
|
| |||||||||||||||
Nebraska — 1.25% | ||||||||||||||||
1,140 | Nebraska State Public Power District Revenue, Series A | 4.00 | 1/1/20 | 1,164 | ||||||||||||
|
| |||||||||||||||
Nevada — 2.31% | ||||||||||||||||
1,765 | County of Clark Department of Aviation Revenue, Series A | 5.00 | 7/1/21 | 1,894 | ||||||||||||
250 | Clark County, Nevada Highway Revenue | 5.00 | 7/1/20 | 262 | ||||||||||||
|
| |||||||||||||||
2,156 | ||||||||||||||||
|
| |||||||||||||||
New Jersey — 2.67% | ||||||||||||||||
375 | Middlesex County Improvement Authority Revenue(CNTY-GTD) | 3.00 | 9/1/20 | 383 | ||||||||||||
130 | South Brunswick Township New Jersey, GO | 4.00 | 9/1/20 | 135 | ||||||||||||
1,945 | County of Union New Jersey, GO, Series A&B | 3.00 | 3/1/20 | 1,973 | ||||||||||||
|
| |||||||||||||||
2,491 | ||||||||||||||||
|
| |||||||||||||||
New Mexico — 1.23% | ||||||||||||||||
375 | New Mexico State Finance Authority Revenue, Series B | 5.00 | 6/15/19 | 381 | ||||||||||||
750 | State of New Mexico Severance Tax Permanent Fund Revenue, Series A | 5.00 | 7/1/19 | 762 | ||||||||||||
|
| |||||||||||||||
1,143 | ||||||||||||||||
|
| |||||||||||||||
New York — 6.20% | ||||||||||||||||
1,990 | New York City Fiscal 2019, GO, Series A | 5.00 | 8/1/20 | 2,089 | ||||||||||||
385 | New York City Transitional Finance Authority Future Tax Secured Revenue | 5.00 | 11/1/21 | 419 | ||||||||||||
900 | New York City Transitional Finance Authority Future Tax Secured Revenue, Series C1 | 5.00 | 5/1/21 | 966 | ||||||||||||
250 | New York City Municipal Water Finance Authority Water & Sewer System Revenue, Callable 12/15/21 @ 100.00 | 5.00 | 6/15/23 | 272 | ||||||||||||
405 | New York State Dormitory Authority Revenue, Series A | 5.00 | 2/15/24 | 462 | ||||||||||||
1,400 | New York State Dormitory Authority, Revenue, Series B | 5.00 | 2/15/23 | 1,565 | ||||||||||||
|
| |||||||||||||||
5,773 | ||||||||||||||||
|
| |||||||||||||||
North Carolina — 2.12% | ||||||||||||||||
375 | State of North Carolina Revenue | 5.00 | 3/1/23 | 419 | ||||||||||||
1,470 | North Carolina State University at Raleigh Revenue | 5.00 | 10/1/20 | 1,551 | ||||||||||||
|
| |||||||||||||||
1,970 | ||||||||||||||||
|
| |||||||||||||||
Ohio — 1.15% | ||||||||||||||||
1,020 | Allen County Ohio Hospital(Pre-Refunded/Escrowed to Maturity) | 5.25 | 9/1/27 | 1,075 | ||||||||||||
|
| |||||||||||||||
Oklahoma — 1.28% | ||||||||||||||||
1,145 | Grand River Dam Authority, Revenue, Series A | 5.00 | 6/1/20 | 1,195 | ||||||||||||
|
|
See accompanying notes to financial statements.
182
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HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Oregon — 0.68% | ||||||||||||||||
$ | 590 | Multnomah County School District No. 1 Portland, GO, Series B (SCH BD GTY) | 5.00 | 6/15/21 | $ | 634 | ||||||||||
|
| |||||||||||||||
Pennsylvania — 3.46% | ||||||||||||||||
1,945 | Commonwealth of Pennsylvania, GO, Series 2(Pre-Refunded/Escrowed to Maturity) | 5.00 | 4/15/23 | 1,963 | ||||||||||||
525 | Philadelphia Pennsylvania Authority For Industrial Development Temple University Revenue, Series 2016 | 5.00 | 4/1/21 | 559 | ||||||||||||
690 | Souderton Area School District, GO(Pre-Refunded/Escrowed to Maturity) (State Aid Withholding) | 4.75 | 11/1/20 | 697 | ||||||||||||
|
| |||||||||||||||
3,219 | ||||||||||||||||
|
| |||||||||||||||
South Carolina — 1.93% | ||||||||||||||||
1,635 | Aiken County Consolidated School District South Carolina, GO, Series B (SCSDE) | 5.00 | 4/1/22 | 1,793 | ||||||||||||
|
| |||||||||||||||
South Dakota — 0.45% | ||||||||||||||||
395 | City of Sioux Falls South Dakota Sales Tax Revenue, Series A | 5.00 | 11/15/20 | 418 | ||||||||||||
|
| |||||||||||||||
Tennessee — 0.40% | ||||||||||||||||
350 | City of Clarksville Tennessee Water Sewer & Gas Revenue | 5.00 | 2/1/21 | 373 | ||||||||||||
|
| |||||||||||||||
Texas — 15.12% | ||||||||||||||||
1,255 | City of Arlington Texas, GO, Series A | 5.00 | 8/15/22 | 1,388 | ||||||||||||
1,635 | City of Arlington Texas Water & Wastewater System Revenue, Series A | 5.00 | 6/1/19 | 1,656 | ||||||||||||
240 | Austin Texas Contractual Obligation, GO | 5.00 | 5/1/19 | 243 | ||||||||||||
1,015 | Conroe Independent School District, GO(PSF-GTD) | 5.00 | 2/15/25 | 1,179 | ||||||||||||
685 | Cypress-Fairbanks Independent School District, GO, Series C(PSF-GTD) | 5.00 | 2/15/22 | 747 | ||||||||||||
660 | Dallas Area Rapid Transit Revenue, Series A | 5.00 | 12/1/24 | 765 | ||||||||||||
300 | City of Frisco Texas Refunding and Improvement, GO | 5.00 | 2/15/19 | 301 | ||||||||||||
450 | Goose Creek Texas Consolidated Independent School District, GO,Callable 2/15/21 @ 100.00 (PSF-GTD) | 5.00 | 2/15/22 | 478 | ||||||||||||
430 | Harris County Toll Road Authority Revenue, Series B | 5.00 | 8/15/22 | 475 | ||||||||||||
690 | Katy Independent School District, GO, Series B(PSF-GTD) | 5.00 | 2/15/22 | 752 | ||||||||||||
250 | New Braunfels Texas, GO | 5.00 | 2/1/19 | 251 | ||||||||||||
625 | North East Independent School District Texas, GO(PSF-GTD) | 5.00 | 8/1/22 | 690 | ||||||||||||
1,150 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/19 | 1,150 | ||||||||||||
1,875 | North Texas Municipal Water District Water System Revenue | 5.25 | 9/1/19 | 1,916 | ||||||||||||
300 | County of Nueces Texas, GO | 5.00 | 2/15/19 | 301 | ||||||||||||
105 | County of Nueces Texas, GO | 5.00 | 2/15/19 | 105 | ||||||||||||
950 | State of Texas, GO, Series C | 1.78 | 10/1/20 | 936 | ||||||||||||
705 | County of Travis Texas, GO | 5.00 | 3/1/21 | 752 | ||||||||||||
|
| |||||||||||||||
14,085 | ||||||||||||||||
|
| |||||||||||||||
Virginia — 1.49% | ||||||||||||||||
360 | Virginia Commonwealth Transportation Board Revenue, Series A | 5.00 | 3/15/20 | 374 | ||||||||||||
1,020 | Virginia Housing Development Authority Revenue, Series A, Callable 9/1/19 @ 100.00 | 2.05 | 3/1/22 | 1,017 | ||||||||||||
|
| |||||||||||||||
1,391 | ||||||||||||||||
|
| |||||||||||||||
Washington — 8.27% | ||||||||||||||||
1,050 | Public Utility District No. 1 of Benton County Revenue | 5.00 | 11/1/19 | 1,078 | ||||||||||||
420 | Grant County Washington Public Utility District Revenue, Series I | 5.00 | 1/1/19 | 420 | ||||||||||||
1,085 | King County Washington School District No. 405, GO, Series B (SCH BD GTY) | 5.00 | 12/1/24 | 1,260 | ||||||||||||
215 | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | 5.00 | 1/1/22 | 225 | ||||||||||||
135 | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | 5.00 | 1/1/22 | 141 | ||||||||||||
1,735 | City of Seattle Washington Municipal Light & Power Revenue, Series A | 5.00 | 1/1/24 | 1,978 | ||||||||||||
500 | Tacoma Washington Electric System Revenue, Series A | 4.00 | 1/1/20 | 511 | ||||||||||||
820 | State of Washington Revenue, Series F | 5.00 | 9/1/22 | 907 | ||||||||||||
365 | State of Washington Revenue, Series A | 5.00 | 7/1/20 | 382 | ||||||||||||
420 | Washington State, GO, Series C(Pre-Refunded/Escrowed to Maturity) | 5.00 | 2/1/33 | 421 | ||||||||||||
365 | Washington State, GO, Series A | 5.00 | 8/1/19 | 372 | ||||||||||||
|
| |||||||||||||||
7,695 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
183
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HC CAPITAL TRUST
The Short-Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Wisconsin — 4.26% | ||||||||||||||||
$ | 1,125 | City of Janesville Wisconsin, GO | 3.00 | 2/1/20 | $ | 1,139 | ||||||||||
380 | City of Milwaukee Wisconsin, GO, Series N4&B5 | 5.00 | 4/1/23 | 426 | ||||||||||||
200 | Milwaukee Wisconsin Area Technical College District, GO, Series C | 3.00 | 6/1/19 | 201 | ||||||||||||
525 | Wisconsin Energy Power Supply Revenue, Series A | 5.00 | 7/1/22 | 578 | ||||||||||||
880 | State of Wisconsin Clean Water Fund Leveraged Loan Portfolio Revenue, Series 1 | 4.00 | 6/1/21 | 925 | ||||||||||||
665 | Wisconsin Health & Educational Facilities Authority Revenue | 5.00 | 11/15/20 | 702 | ||||||||||||
|
| |||||||||||||||
3,971 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 90,583 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Company — 1.40% | ||||||||||||||||
1,304,645 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (a) | 1,305 | ||||||||||||
|
| |||||||||||||||
Total Investment Company | 1,305 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $91,788) — 98.67% | 91,888 | |||||||||||||||
Other assets in excess of liabilities — 1.33% | 1,239 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 93,127 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2018. |
CNTY-GTD — County Guarantee
GO — General Obligation
PSF-GTD — Public School Fund Guaranteed
SCH BD GTY — School Board Guaranty
SCSDE — Insured by South Carolina School Discount Enhancement
SD CRED PROG — School District Credit Program
As of December 31, 2018, 100% of the Portfolio’s net assets were managed by Breckinridge Capital Advisors, Inc.
See accompanying notes to financial statements.
184
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 89.34% | ||||||||||||||||
Alabama — 0.70% | ||||||||||||||||
$ | 1,400 | Birmingham Alabama Water Works Board Water Revenue, Series B | 5.00 | 1/1/24 | $ | 1,585 | ||||||||||
1,000 | Jefferson County Alabama Revenue | 5.00 | 9/15/22 | 1,099 | ||||||||||||
|
| |||||||||||||||
2,684 | ||||||||||||||||
|
| |||||||||||||||
Alaska — 0.61% | ||||||||||||||||
2,265 | Alaska Industrial Development & Export Authority Revenue, Revolving Fund, Series A, Callable 4/1/20 @ 100.00 (GO of Authority) | 5.25 | 4/1/22 | 2,354 | ||||||||||||
|
| |||||||||||||||
Arizona — 0.60% | ||||||||||||||||
1,000 | Maricopa County High School District No.210-Phoenix, GO | 5.00 | 7/1/25 | 1,171 | ||||||||||||
1,000 | Salt Verde Arizona Financial Corp. Senior Gas Revenue (Citigroup, Inc.) | 5.25 | 12/1/24 | 1,134 | ||||||||||||
|
| |||||||||||||||
2,305 | ||||||||||||||||
|
| |||||||||||||||
Arkansas — 0.34% | ||||||||||||||||
1,200 | Arkansas State Development Finance Authority Hospital Revenue, Series B | 5.00 | 2/1/23 | 1,316 | ||||||||||||
|
| |||||||||||||||
California — 3.26% | ||||||||||||||||
1,500 | California State, GO | 5.00 | 8/1/24 | 1,740 | ||||||||||||
2,065 | California State Department of Water Resources Revenue, Central Valley Project, Continuously Callable @ 100.00 | 5.25 | 7/1/22 | 2,071 | ||||||||||||
4,155 | California State Public Works Board Lease Revenue, Series D | 5.00 | 4/1/24 | 4,764 | ||||||||||||
2,460 | Golden State Tobacco Securitization Corp. California Tobacco Settlement Revenue, SeriesA-1 | 5.00 | 6/1/26 | 2,741 | ||||||||||||
1,000 | Los Angeles California Department of Airports Revenue | 5.00 | 5/15/23 | 1,120 | ||||||||||||
65 | University of California Revenue, Series Q, Continuously Callable @ 100.00 | 5.25 | 5/15/23 | 65 | ||||||||||||
|
| |||||||||||||||
12,501 | ||||||||||||||||
|
| |||||||||||||||
Colorado — 5.39% | ||||||||||||||||
5,000 | Colorado State Health Facilities Authority Revenue, Catholic Health Initiatives,Series D-3 | 5.00 | (a) | 10/1/38 | 5,334 | |||||||||||
3,720 | City of Colorado Springs Colorado Utilities System Revenue, SeriesA-3 | 5.00 | 11/15/22 | 4,145 | ||||||||||||
1,225 | Colorado State Board of Governors University Enterprise System Revenue,Series E-2 | 5.00 | 3/1/25 | 1,425 | ||||||||||||
2,970 | Denver City & County School District No. 1, GO, Series A (State Aid Withholding) | 5.50 | 12/1/25 | 3,606 | ||||||||||||
1,750 | Denver City & County Colorado Airport System Revenue, Series A | 5.00 | 11/15/23 | 1,987 | ||||||||||||
3,600 | Denver City & County Colorado Airport System Revenue, Series A | 5.00 | 12/1/25 | 4,148 | ||||||||||||
|
| |||||||||||||||
20,645 | ||||||||||||||||
|
| |||||||||||||||
Connecticut — 2.28% | ||||||||||||||||
3,000 | State of Connecticut, GO, Series A, Callable 10/15/23 @ 100.00 | 5.00 | 10/15/25 | 3,296 | ||||||||||||
1,000 | Connecticut State Health & Educational Facilities Authority Revenue, Series B | 5.00 | 12/1/26 | 1,138 | ||||||||||||
2,500 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series A | 5.00 | 9/1/21 | 2,677 | ||||||||||||
1,570 | Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, Series B | 5.00 | 8/1/20 | 1,642 | ||||||||||||
|
| |||||||||||||||
8,753 | ||||||||||||||||
|
| |||||||||||||||
District of Columbia — 0.79% | ||||||||||||||||
1,500 | District of Columbia University Revenue | 5.00 | 4/1/25 | 1,731 | ||||||||||||
1,200 | Metropolitan Washington Airports Authority Revenue, Series A (AMT) | 5.00 | 10/1/22 | 1,317 | ||||||||||||
|
| |||||||||||||||
3,048 | ||||||||||||||||
|
| |||||||||||||||
Florida — 4.93% | ||||||||||||||||
1,285 | Greater Orlando Florida Aviation Authority Airport Facilities Revenue, Series A | 5.00 | 10/1/21 | 1,381 | ||||||||||||
1,615 | Lee County Florida Solid Waste System Revenue | 5.00 | 10/1/22 | 1,742 | ||||||||||||
1,500 | Lee County Florida Solid Waste System Revenue (AMT) | 5.00 | 10/1/25 | 1,673 | ||||||||||||
4,570 | Miami-Dade County Florida Aviation Revenue, Series A | 5.00 | 10/1/21 | 4,899 | ||||||||||||
3,250 | Orange County Florida Tourist Development Tax Revenue, Series B | 5.00 | 10/1/25 | 3,802 | ||||||||||||
1,500 | Palm Beach County Florida Health Facilities Authority Revenue | 5.00 | 11/15/21 | 1,595 | ||||||||||||
1,845 | Palm Beach County Florida School Board, Series D | 5.00 | 8/1/21 | 1,987 | ||||||||||||
1,750 | South Florida Water Management District Corps, Certificate of Participation | 5.00 | 10/1/21 | 1,889 | ||||||||||||
|
| |||||||||||||||
18,968 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
185
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Georgia — 2.68% | ||||||||||||||||
$ | 1,000 | Atlanta Georgia Development Authority Revenue, SeriesA-1 | 5.00 | 7/1/23 | $ | 1,126 | ||||||||||
1,250 | Fulton County Georgia Development Authority Revenue, Series A | 5.00 | 7/1/23 | 1,397 | ||||||||||||
1,600 | Fulton County Georgia Development Authority Revenue, Series A | 5.00 | 7/1/24 | 1,818 | ||||||||||||
3,050 | Georgia State Municipal Gas Authority Revenue, Gas Portfolio III Project, Series U | 5.00 | 10/1/21 | 3,287 | ||||||||||||
1,000 | Main Street Natural Gas, Inc. Revenue, Series B, Callable 6/1/23 @ 100.00 | | 2.32 (US0001M + 75.00 bps) | (b) | 4/1/48 | 988 | ||||||||||
1,620 | Municipal Electric Authority of Georgia Revenue, Series A | 5.00 | 1/1/21 | 1,702 | ||||||||||||
|
| |||||||||||||||
10,318 | ||||||||||||||||
|
| |||||||||||||||
Illinois — 4.24% | ||||||||||||||||
94 | Chicago Illinois Certificates of Participation, Tax Increment Allocation Revenue, Diversey / Narragansett Project, Series NT, Continuously Callable @ 100.00 (c) | 7.46 | 2/15/26 | 68 | ||||||||||||
1,725 | Metropolitan Water Reclamation District of Greater Chicago, GO, Series B | 5.00 | 12/1/24 | 1,969 | ||||||||||||
1,000 | City of Chicago Illinois Waterworks Revenue, Callable 11/1/24 @ 100.00 | 5.00 | 11/1/25 | 1,119 | ||||||||||||
1,000 | City of Chicago Illinois Waterworks Revenue | 5.00 | 11/1/24 | 1,119 | ||||||||||||
1,000 | City of Chicago Illinois Waterworks Revenue, Callable 11/1/22 @ 100.00 | 5.00 | 11/1/24 | 1,084 | ||||||||||||
1,240 | Illinois State Finance Authority Revenue, Series B | 5.00 | 5/1/22 | 1,358 | ||||||||||||
4,600 | Illinois State Sales Tax Revenue, Series A | 5.00 | 6/15/25 | 5,102 | ||||||||||||
750 | Northern Illinois Municipal Power Agency Project Revenue, Series A | 5.00 | 12/1/22 | 827 | ||||||||||||
2,000 | Railsplitter Tobacco Settlement Authority Revenue | 5.00 | 6/1/22 | 2,164 | ||||||||||||
1,450 | University of Illinois Revenue, Series C, Callable 10/1/21 @ 100.00 | 5.00 | 4/1/25 | 1,544 | ||||||||||||
|
| |||||||||||||||
16,354 | ||||||||||||||||
|
| |||||||||||||||
Indiana — 2.56% | ||||||||||||||||
1,150 | Indiana Finance Authority Revenue, Series A | 5.00 | 11/1/23 | 1,295 | ||||||||||||
1,000 | Indiana Finance Authority Revenue, Series A | 5.00 | 11/1/24 | 1,144 | ||||||||||||
1,000 | Indiana State Finance Authority Revenue, Stadium Project, Series A | 5.00 | 2/1/23 | 1,115 | ||||||||||||
2,500 | Indianapolis Local Public Improvement Bond Bank Airport Authority Revenue,Series A-1 (AMT) | 5.00 | 1/1/21 | 2,636 | ||||||||||||
1,000 | Richmond Indiana Hospital Authority Revenue, Reid Hospital & Health Care, Series A | 5.00 | 1/1/21 | 1,054 | ||||||||||||
2,250 | Whiting Indiana Environmental Facilities Revenue | 5.00 | (a) | 11/1/47 | 2,557 | |||||||||||
|
| |||||||||||||||
9,801 | ||||||||||||||||
|
| |||||||||||||||
Kentucky — 2.09% | ||||||||||||||||
3,160 | Kentucky Public Energy Authority Revenue, Series A | 4.00 | 4/1/23 | 3,311 | ||||||||||||
1,000 | Kentucky Public Energy Authority Revenue, Series A, Callable 1/2/24 @ 100.40 | 4.00 | 4/1/24 | 1,054 | ||||||||||||
3,500 | Kentucky Public Energy Authority Revenue, Series B, Callable 10/1/24 @ 100.24 | 4.00 | 1/1/49 | 3,700 | ||||||||||||
|
| |||||||||||||||
8,065 | ||||||||||||||||
|
| |||||||||||||||
Louisiana — 0.81% | ||||||||||||||||
2,850 | Louisiana State Citizens Property Insurance Corp. Revenue (AGM) | 5.00 | 6/1/22 | 3,132 | ||||||||||||
|
| |||||||||||||||
Maryland — 2.39% | ||||||||||||||||
1,000 | Maryland State Health & Higher Educational Facilities Authority Revenue, Series B | 5.00 | 7/1/22 | 1,097 | ||||||||||||
1,000 | Maryland State Economic Development Corp. Private Activity Revenue, Series A, Callable 11/30/21 @ 100.00 (AMT) | 5.00 | 3/31/24 | 1,054 | ||||||||||||
4,040 | Maryland State Stadium Authority Revenue | 5.00 | 5/1/24 | 4,617 | ||||||||||||
2,110 | Montgomery County Maryland, GO, Series A | 5.00 | 12/1/23 | 2,410 | ||||||||||||
|
| |||||||||||||||
9,178 | ||||||||||||||||
|
| |||||||||||||||
Massachusetts — 1.07% | ||||||||||||||||
1,000 | Massachusetts State Educational Financing Authority Revenue (AMT) | 5.00 | 1/1/25 | 1,121 | ||||||||||||
1,615 | Massachusetts State Educational Financing Authority Revenue, Series A (AMT) | 5.00 | 7/1/23 | 1,778 | ||||||||||||
1,170 | Massachusetts Development Finance Agency Revenue | 5.25 | 1/1/21 | 1,238 | ||||||||||||
|
| |||||||||||||||
4,137 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
186
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Michigan — 2.95% | ||||||||||||||||
$ | 1,810 | Great Lakes Michigan Water Authority Sewage Disposal System Revenue, Series B | 5.00 | 7/1/24 | $ | 2,068 | ||||||||||
2,000 | Michigan State Finance Authority Revenue, Detroit School District, Series A(Q-SBLF) | 5.00 | 5/1/21 | 2,130 | ||||||||||||
4,000 | Michigan State Finance Authority Revenue, SeriesD-1 (AGM) | 5.00 | 7/1/21 | 4,275 | ||||||||||||
1,000 | Michigan State Finance Authority Revenue, SeriesD-1 | 5.00 | 7/1/21 | 1,065 | ||||||||||||
1,580 | Michigan Strategic Fund Revenue | 5.00 | 6/30/25 | 1,778 | ||||||||||||
|
| |||||||||||||||
11,316 | ||||||||||||||||
|
| |||||||||||||||
Minnesota — 0.34% | ||||||||||||||||
1,200 | Minneapolis-Saint Paul Minnesota Metropolitan Airports Commission Revenue, Series B | 5.00 | 1/1/22 | 1,306 | ||||||||||||
|
| |||||||||||||||
Missouri — 2.13% | ||||||||||||||||
2,500 | Kansas City Missouri Airport Revenue, Series A (AMT) | 5.00 | 9/1/20 | 2,621 | ||||||||||||
1,600 | Missouri State Joint Municipal Electric Utility Commission Power Project Revenue, Series A | 5.00 | 1/1/21 | 1,694 | ||||||||||||
1,000 | Missouri State Health & Educational Facilities Authority Revenue | 5.00 | 11/15/23 | 1,125 | ||||||||||||
2,400 | Health & Educational Facilities Authority of the State of Missouri Revenue | 5.00 | 6/1/25 | 2,763 | ||||||||||||
|
| |||||||||||||||
8,203 | ||||||||||||||||
|
| |||||||||||||||
Nevada — 1.60% | ||||||||||||||||
3,470 | Clark County Nevada School District, GO, Series A | 5.00 | 6/15/23 | 3,861 | ||||||||||||
1,000 | Clark County Nevada School District, GO, Series A | 5.00 | 6/15/26 | 1,159 | ||||||||||||
1,000 | State of Nevada Highway Improvement Revenue | 5.00 | 12/1/24 | 1,158 | ||||||||||||
|
| |||||||||||||||
6,178 | ||||||||||||||||
|
| |||||||||||||||
New Jersey — 3.86% | ||||||||||||||||
3,750 | New Jersey State Economic Development Authority Revenue, School Facilities Construction, Series NN | 5.00 | 3/1/21 | 3,939 | ||||||||||||
5,000 | New Jersey State Higher Education Assistance Authority Senior Revenue, Series2015-1A | 5.00 | 12/1/20 | 5,236 | ||||||||||||
2,000 | New Jersey State Higher Education Student Assistance Authority Revenue, Series B (AMT) | 5.00 | 12/1/22 | 2,175 | ||||||||||||
3,500 | Tobacco Settlement Financing Corp. New Jersey Revenue, Series B | 3.20 | 6/1/27 | 3,500 | ||||||||||||
|
| |||||||||||||||
14,850 | ||||||||||||||||
|
| |||||||||||||||
New York — 7.72% | ||||||||||||||||
2,110 | Metropolitan Transportation Authority New York Revenue, SeriesA-1 | 5.00 | 11/15/22 | 2,321 | ||||||||||||
2,000 | Metropolitan Transportation Authority New York Revenue, Series B | 5.00 | 11/15/22 | 2,200 | ||||||||||||
2,500 | New York State, GO, Series C | 5.00 | 8/1/23 | 2,825 | ||||||||||||
3,000 | New York City Housing Development Corp. Revenue, SeriesB-2, | 5.00 | 7/1/26 | 3,322 | ||||||||||||
2,500 | New York City Health & Hospital Corp. Revenue, Health System, Series A, | 5.00 | 2/15/22 | 2,585 | ||||||||||||
1,000 | New York City Transitional Finance Authority Future Tax Secured Revenue, SeriesB-1, Callable 8/1/24 @ 100.00 | 5.00 | 8/1/29 | 1,130 | ||||||||||||
1,165 | New York State Dormitory Authority Revenues Non State Supported Debt, Icahn School of Medicine at Mount Sinai, Series A | 5.00 | 7/1/21 | 1,249 | ||||||||||||
3,000 | New York State Dormitory Authority State Personal Income Tax Revenue, Series D | 5.00 | 2/15/23 | 3,356 | ||||||||||||
3,255 | New York State Transportation Development Corp. Special Facilities Revenue, | 5.00 | 1/1/21 | 3,453 | ||||||||||||
2,000 | Port Authority of New York & New Jersey New York Revenue, | 5.00 | 9/1/22 | 2,197 | ||||||||||||
4,500 | Port Authority of New York & New Jersey New York Revenue, | 5.00 | 9/1/23 | 5,038 | ||||||||||||
|
| |||||||||||||||
29,676 | ||||||||||||||||
|
| |||||||||||||||
North Carolina — 2.38% | ||||||||||||||||
1,000 | City of Charlotte NC Airport Revenue, Series C | 4.00 | 7/1/23 | 1,085 | ||||||||||||
1,000 | City of Charlotte NC Airport Revenue, Series C | 5.00 | 7/1/24 | 1,151 | ||||||||||||
1,000 | North Carolina State Turnpike Authority Revenue (AGC) | 5.00 | 1/1/24 | 1,122 | ||||||||||||
5,000 | County of Wake North Carolina, GO | 5.00 | 9/1/24 | 5,805 | ||||||||||||
|
| |||||||||||||||
9,163 | ||||||||||||||||
|
|
See accompanying notes to financial statements.
187
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Ohio — 1.87% | ||||||||||||||||
$ | 1,500 | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | 5.00 | 2/15/27 | $ | 1,677 | ||||||||||
1,750 | Ohio American Municipal Power, Inc. Revenue, Series A | 5.00 | 2/15/24 | 1,983 | ||||||||||||
750 | Mahoning County Ohio Hospital Facilities Revenue, Western Reserve Care System, Continuously Callable @ 100.00 (MBIA) | 5.50 | 10/15/25 | 843 | ||||||||||||
2,500 | Montgomery County Ohio Revenue, Miami Valley Hospital, Series A, Callable 11/15/20 @ 100.00 | 5.75 | 11/15/22 | 2,647 | ||||||||||||
|
| |||||||||||||||
7,150 | ||||||||||||||||
|
| |||||||||||||||
Oklahoma — 0.37% | ||||||||||||||||
1,275 | Grand River Oklahoma Dam Authority Revenue, Series A | 5.00 | 6/1/22 | 1,403 | ||||||||||||
|
| |||||||||||||||
Oregon — 0.37% | ||||||||||||||||
1,305 | Benton & Linn Counties Consolidated School District No. 509J & 509A Corvallis, GO, Series A (SCH BD GTY) | 0.00 | (a) | 6/15/25 | 1,424 | |||||||||||
|
| |||||||||||||||
Pennsylvania — 4.16% | ||||||||||||||||
1,250 | Commonwealth Financing Authority Revenue, Tobacco Master Settlement | 5.00 | 6/1/23 | 1,384 | ||||||||||||
4,000 | Delaware Valley Regional Finance Authority Revenue, Series B, Callable 9/1/21 @ 100.00(CNTY-GTD) | | 2.13 (MUNIPSA + 42.00 bps) | (b) | 9/1/48 | 4,000 | ||||||||||
2,500 | Pennsylvania State Turnpike Commission Revenue | 5.00 | 6/1/24 | 2,816 | ||||||||||||
3,000 | Philadelphia Pennsylvania Gas Works Revenue | 5.00 | 8/1/21 | 3,214 | ||||||||||||
2,500 | Philadelphia Pennsylvania School District, GO, Series C, Callable 9/1/20 @ 100.00 (State Aid Withholding) | 5.00 | 9/1/21 | 2,605 | ||||||||||||
1,700 | Southeastern Pennsylvania Transportation Authority Revenue | 5.00 | 3/1/23 | 1,898 | ||||||||||||
|
| |||||||||||||||
15,917 | ||||||||||||||||
|
| |||||||||||||||
Rhode Island — 0.85% | ||||||||||||||||
2,000 | Rhode Island Health & Educational Building Corp. Revenue | 5.00 | 5/15/23 | 2,197 | ||||||||||||
1,000 | Rhode Island State Student Loan Authority Student Loan Revenue, Series A (AMT) | 5.00 | 12/1/22 | 1,081 | ||||||||||||
|
| |||||||||||||||
3,278 | ||||||||||||||||
|
| |||||||||||||||
South Carolina — 2.10% | ||||||||||||||||
3,680 | County of Charleston South Carolina, GO, Series A (State Aid Withholding) | 5.00 | 11/1/26 | 4,429 | ||||||||||||
3,500 | Piedmont Municipal Power Agency Electric Revenue, SeriesA-2, Callable 1/1/21 @ 100.00 | 5.00 | 1/1/22 | 3,684 | ||||||||||||
|
| |||||||||||||||
8,113 | ||||||||||||||||
|
| |||||||||||||||
Tennessee — 1.31% | ||||||||||||||||
2,000 | Tennessee State Energy Acquisition Corp. Gas Revenue, Series A (Goldman Sachs Group, Inc.) | 5.25 | 9/1/21 | 2,137 | ||||||||||||
1,250 | Tennessee State Energy Acquisition Corp. Gas Revenue, Series E, Callable 2/1/23 @ 100.43 | 4.00 | (a) | 5/1/48 | 1,299 | |||||||||||
1,500 | Tennessee Energy Acquisition Corp. Revenue, Callable 8/1/25 @ 100.22 | 4.00 | (a) | 11/1/49 | 1,573 | |||||||||||
|
| |||||||||||||||
5,009 | ||||||||||||||||
|
| |||||||||||||||
Texas — 16.29% | ||||||||||||||||
2,000 | Aldine Texas Independent School District, GO(PSF-GTD) | 5.00 | 2/15/25 | 2,321 | ||||||||||||
1,000 | Austin Texas Community College District, GO | 5.00 | 8/1/23 | 1,128 | ||||||||||||
1,180 | Clifton Higher Education Finance Corp. Revenue(PSF-GTD) | 5.00 | 8/15/24 | 1,340 | ||||||||||||
2,200 | Clifton Higher Education Finance Corp. Revenue(PSF-GTD) | 5.00 | 8/15/25 | 2,536 | ||||||||||||
3,500 | Dallas-Fort Worth Texas International Airport Revenue, Series E | 5.00 | 11/1/22 | 3,835 | ||||||||||||
1,000 | City of Dallas TX, GO, Series A, Callable 2/15/23 @ 100.00 | 5.00 | 2/15/26 | 1,105 | ||||||||||||
2,450 | City of Dallas TX, GO, Callable 2/15/25 @ 100.00 | 5.00 | 2/15/27 | 2,801 | ||||||||||||
2,500 | Dallas Independent School District, GO, Series A,Callable 2/15/25 @ 100.00 (PSF-GTD) | 5.00 | 2/15/27 | 2,883 | ||||||||||||
1,100 | Denton Texas Utility System Revenue | 5.00 | 12/1/22 | 1,219 | ||||||||||||
1,000 | El Paso Texas Water & Sewer Revenue | 5.00 | 3/1/22 | 1,093 | ||||||||||||
3,500 | Grand Parkway Transportation Corp. Revenue | 5.00 | 2/1/23 | 3,867 |
See accompanying notes to financial statements.
188
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Texas (continued) | ||||||||||||||||
$ | 2,095 | Harris County Texas Cultural Education Facilities Finance Corp. Medicine Facilities Revenue, Baylor College of Medicine | 5.00 | 11/15/23 | $ | 2,358 | ||||||||||
1,650 | Harris County Cultural Education Facilities Finance Corp. Revenue | 5.00 | 11/15/25 | 1,919 | ||||||||||||
1,650 | Harris County Toll Road Authority Revenue, Series A | 5.00 | 8/15/23 | 1,863 | ||||||||||||
1,450 | Houston Texas Community College Revenue | 5.00 | 4/15/21 | 1,548 | ||||||||||||
2,000 | Houston Texas Hotel Occupancy Tax & Special Revenue, Series A | 5.00 | 9/1/20 | 2,095 | ||||||||||||
1,000 | Love Field Texas Airport Modernization Corp. General Airport Revenue (AMT) | 5.00 | 11/1/22 | 1,097 | ||||||||||||
1,220 | Love Field Texas Airport Modernization Corp. General Airport Revenue, Callable 11/1/22 @ 100.00 | 5.00 | 11/1/28 | 1,314 | ||||||||||||
1,000 | Lower Colorado River Texas Authority Transmission Contract Revenue | 5.00 | 5/15/22 | 1,094 | ||||||||||||
1,075 | Lower Colorado River Texas Authority Transmission Contract Revenue | 5.00 | 5/15/23 | 1,199 | ||||||||||||
1,695 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/22 | 1,838 | ||||||||||||
2,500 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/22 | 2,706 | ||||||||||||
1,000 | North Texas Tollway Authority Revenue, Series A | 5.00 | 1/1/24 | 1,131 | ||||||||||||
1,000 | North Texas Tollway Authority Revenue, Series B, Callable 1/1/23 @ 100.00 | 5.00 | 1/1/26 | 1,100 | ||||||||||||
1,000 | Northside Texas Independent School District, GO(PSF-GTD) | 5.00 | 6/15/24 | 1,146 | ||||||||||||
1,070 | Sam Rayburn Texas Municipal Power Agency Revenue | 5.00 | 10/1/20 | 1,118 | ||||||||||||
1,175 | San Antonio Texas Water Revenue, Junior Lien, Series A | 5.00 | 5/15/22 | 1,290 | ||||||||||||
1,505 | Texas A&M University Revenue, Series E | 5.00 | 5/15/23 | 1,692 | ||||||||||||
4,365 | Texas State College Student Loan, GO | 5.00 | 8/1/22 | 4,797 | ||||||||||||
2,230 | University of Houston Revenue, Series C, Callable 2/15/26 @ 100.00 | 5.00 | 2/15/28 | 2,594 | ||||||||||||
3,000 | University of Texas Revenue, Series E | 5.00 | 8/15/23 | 3,396 | ||||||||||||
1,000 | West Travis County Public Utility Agency Revenue (BAM) | 5.00 | 8/15/26 | 1,176 | ||||||||||||
|
| |||||||||||||||
62,599 | ||||||||||||||||
|
| |||||||||||||||
Utah — 0.34% | ||||||||||||||||
1,090 | Utah Transit Authority Revenue | 5.00 | 12/15/26 | 1,289 | ||||||||||||
|
| |||||||||||||||
Virginia — 1.89% | ||||||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority Revenue, Series A | 5.00 | 5/15/22 | 1,099 | ||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority Revenue, Series A | 5.00 | 5/15/23 | 1,123 | ||||||||||||
1,000 | Fairfax County Virginia Industrial Development Authority Revenue, Series A | 5.00 | 5/15/24 | 1,145 | ||||||||||||
2,000 | Virginia Commonwealth Transportation Board Revenue, Series A | 5.00 | 5/15/23 | 2,254 | ||||||||||||
1,400 | Virginia Commonwealth Transportation Board Revenue, Series A | 5.00 | 5/15/24 | 1,611 | ||||||||||||
|
| |||||||||||||||
7,232 | ||||||||||||||||
|
| |||||||||||||||
Washington — 2.52% | ||||||||||||||||
1,650 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B (AMT) | 5.00 | 1/1/21 | 1,744 | ||||||||||||
1,420 | Grant County Washington Public Utilities District #2 Priest Rapids Hydro Electric Revenue, Series B (AMT) | 5.00 | 1/1/22 | 1,535 | ||||||||||||
1,000 | Port of Seattle Washington, GO, Callable 6/1/21 @ 100.00 (AMT) | 5.25 | 12/1/21 | 1,075 | ||||||||||||
1,000 | Port of Seattle Washington Revenue, Series C (AMT) | 5.00 | 4/1/22 | 1,087 | ||||||||||||
2,500 | Washington State, GO, Series B | 5.00 | 7/1/23 | 2,824 | ||||||||||||
1,250 | Washington Health Care Facilities Authority Revenue | 5.00 | 10/1/25 | 1,453 | ||||||||||||
|
| |||||||||||||||
9,718 | ||||||||||||||||
|
| |||||||||||||||
Wisconsin — 1.55% | ||||||||||||||||
1,000 | Public Finance Authority Wisconsin Lease Development Revenue | 5.00 | 3/1/22 | 1,086 | ||||||||||||
1,000 | Public Finance Authority Wisconsin Lease Development Revenue | 5.00 | 3/1/23 | 1,108 | ||||||||||||
1,225 | University of Wisconsin Hospitals & Clinics Revenue | 5.00 | 4/1/26 | 1,422 | ||||||||||||
1,000 | Wisconsin State Health & Educational Facilities Authority Health Facilities Revenue, Unity Point Health, Series A | 5.00 | 12/1/21 | 1,083 | ||||||||||||
1,155 | Wisconsin State Health & Educational Facilities Authority Revenue, Series A | 5.00 | 11/15/22 | 1,280 | ||||||||||||
|
| |||||||||||||||
5,979 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 343,362 | |||||||||||||||
|
|
See accompanying notes to financial statements.
189
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Corporate Bond — 0.00% | ||||||||||||||||
$ | 3,939 | ASC Equipment (Trading Companies & Distributors) (d) | 5.13 | (e) | 3/1/08 | $ | — | |||||||||
|
| |||||||||||||||
Total Corporate Bond | — | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Companies — 9.60% | ||||||||||||||||
55 | AllianceBernstein National Municipal Income Fund, Inc. | 672 | ||||||||||||||
55 | BlackRock California Municipal Income Trust | 654 | ||||||||||||||
50 | BlackRock Investment Quality Municipal Trust, Inc. | 656 | ||||||||||||||
92 | BlackRock Muni Intermediate Duration Fund, Inc. | 1,160 | ||||||||||||||
75 | BlackRock Municipal 2030 Target Term Trust | 1,537 | ||||||||||||||
52 | BlackRock Municipal Income Quality Trust | 655 | ||||||||||||||
79 | BlackRock Municipal Income Trust | 965 | ||||||||||||||
53 | BlackRock MuniYield California Fund, Inc. | 682 | ||||||||||||||
52 | BlackRock MuniYield California Quality Fund, Inc. | 662 | ||||||||||||||
29 | BlackRock MuniYield Quality Fund II, Inc. | 332 | ||||||||||||||
99 | BlackRock MuniYield Quality Fund III, Inc. | 1,192 | ||||||||||||||
50 | BlackRock MuniYield Quality Fund, Inc. | 652 | ||||||||||||||
57 | Dreyfus Municipal Bond Infrastructure Fund, Inc. | 680 | ||||||||||||||
65 | Dreyfus Municipal Income, Inc. | 493 | ||||||||||||||
92 | Dreyfus Strategic Municipal Bond Fund, Inc. | 643 | ||||||||||||||
91 | Dreyfus Strategic Municipals, Inc. | 651 | ||||||||||||||
59 | Eaton Vance Municipal Bond Fund | 667 | ||||||||||||||
66 | Invesco Advantage Municipal Income Trust II | 647 | ||||||||||||||
56 | Invesco California Value Municipal Income Trust | 632 | ||||||||||||||
59 | Invesco Municipal Opportunity Trust | 660 | ||||||||||||||
46 | Invesco Municipal Trust | 517 | ||||||||||||||
90 | Invesco Quality Municipal Income Trust | 1,010 | ||||||||||||||
130 | Invesco Trust For Investment Grade Municipals | 1,496 | ||||||||||||||
54 | MFS High Income Municipal Trust | 250 | ||||||||||||||
130 | NuveenAMT-Free Municipal Credit Income Fund | 1,818 | ||||||||||||||
225 | NuveenAMT-Free Quality Municipal Income Fund | 2,770 | ||||||||||||||
78 | Nuveen CaliforniaAMT-Free Quality Municipal Income Fund | 988 | ||||||||||||||
106 | Nuveen California Quality Municipal Income Fund | 1,346 | ||||||||||||||
83 | Nuveen Intermediate Duration Municipal Term Fund | 1,029 | ||||||||||||||
101 | Nuveen Municipal Credit Income Fund | 1,360 | ||||||||||||||
115 | Nuveen New YorkAMT-Free Quality Municipal Income Fund | 1,337 | ||||||||||||||
27 | Nuveen Pennsylvania Quality Municipal Income Fund | 334 | ||||||||||||||
223 | Nuveen Quality Municipal Income Fund | 2,796 | ||||||||||||||
98 | Putnam Managed Municipal Income Trust | 656 | ||||||||||||||
86 | Putnam Municipal Opportunities Trust | 969 | ||||||||||||||
3,359,244 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (e) | 3,359 | ||||||||||||
|
| |||||||||||||||
Total Investment Companies | 36,927 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $387,243) — 98.94% | 380,289 | |||||||||||||||
Other assets in excess of liabilities — 1.06% | 4,059 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 384,348 | ||||||||||||||
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Interest rate is determined by the Remarketing Agent. The rate presented is the rate in effect at December 31, 2018. |
(b) | Variable Rate Security. The rate reflected is the rate in effect on December 31, 2018. |
(c) | This security has been deemed illiquid by the Specialist Manager and represents 0.02% of the Portfolio’s net assets. |
(d) | Defaulted Bond. |
(e) | The rate disclosed is the rate in effect on December 31, 2018. |
See accompanying notes to financial statements.
190
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
AGC — Assured Guaranty Corp.
AGM — Assured Guaranty Municipal Corporation
AMT — Alternative Minimum Tax
BAM — Build America Mutual
bps — Basis Points
CNTY-GTD — County Guarantee
GO — General Obligation
MBIA — Municipal Bond Insurance Association
MUNIPSA — SIFMA Municipal Swap Index Yield
PSF-GTD — Public School Fund Guaranteed
Q-SBLF — Qualified School Bond Loan Fund
SCH BD GTY — School Board Guaranty
US0001M — 1 Month US Dollar LIBOR
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Intermediate Term Municipal Bond Portfolio | Mellon Investments Corporation* | City of London Investment Management Company, Ltd. | HC Capital Solutions | Total | ||||||||||||
Municipal Bonds | 89.34 | % | — | — | 89.34 | % | ||||||||||
Corporate Bond | 0.00 | % | — | — | 0.00 | % | ||||||||||
Investment Companies | — | 8.73 | % | 0.87 | % | 9.60 | % | |||||||||
Other Assets (Liabilities) | 1.07 | % | 0.05 | % | -0.06 | % | 1.06 | % | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Net Assets | 90.41 | % | 8.78 | % | 0.81 | % | 100.00 | % | ||||||||
|
|
|
|
|
|
|
|
* | Formerly Standish Mellon Asset Management Company, LLC. |
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
191
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds — 97.03% | ||||||||||||||||
Alabama — 5.47% | ||||||||||||||||
$ | 1,500 | Alabama State Public School & College Authority Revenue, Series A | 5.00 | 5/1/19 | $ | 1,516 | ||||||||||
1,415 | Birmingham Alabama Special Care Facilities Financing Authority Health Care Facility, Callable 6/1/25 @ 100.00 | 5.00 | 6/1/29 | 1,602 | ||||||||||||
1,000 | Pell City Alabama, GO, Series A, Callable 2/1/25 @ 100.00 | 5.00 | 2/1/26 | 1,150 | ||||||||||||
|
| |||||||||||||||
4,268 | ||||||||||||||||
|
| |||||||||||||||
Arizona — 0.81% | ||||||||||||||||
450 | Maricopa County Arizona Unified School District No. 48, GO | 5.00 | 7/1/21 | 484 | ||||||||||||
140 | Yuma County Arizona Jail District Revenue, Pledge Obligation | 5.00 | 7/1/20 | 146 | ||||||||||||
|
| |||||||||||||||
630 | ||||||||||||||||
|
| |||||||||||||||
Florida — 14.94% | ||||||||||||||||
1,455 | East Central Regional Wastewater Treatment Facilities Operation Board Revenue | 5.50 | 10/1/44 | 1,727 | ||||||||||||
1,250 | Florida State Board of Education Lottery Revenue, Series A | 5.00 | 7/1/26 | 1,494 | ||||||||||||
800 | State of Florida, GO, Series A | 5.00 | 6/1/23 | 904 | ||||||||||||
1,525 | Florida Department of Environmental Protection Revenue, Series A | 5.00 | 7/1/24 | 1,755 | ||||||||||||
1,400 | Lee County Florida School Board Certificates of Participation, Series A, Callable 8/1/24 @ 100.00 | 5.00 | 8/1/27 | 1,586 | ||||||||||||
750 | Miami-Dade County Florida, GO, Series A, Callable 11/1/24 @ 100.00 | 5.00 | 11/1/27 | 859 | ||||||||||||
1,000 | Miami-Dade County Florida Water & Sewer Revenue, Series B (AGM) | 5.25 | 10/1/20 | 1,057 | ||||||||||||
585 | Orange County Florida School Board Certificates of Participation, Series A | 5.00 | 8/1/23 | 659 | ||||||||||||
1,500 | West Palm Beach Florida Utility System Revenue, Series A, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/22 | 1,623 | ||||||||||||
|
| |||||||||||||||
11,664 | ||||||||||||||||
|
| |||||||||||||||
Hawaii — 2.04% | ||||||||||||||||
1,500 | Honolulu City & County Hawaii, GO, Series B(Pre-Refunded/Escrowed to Maturity) | 5.00 | 12/1/23 | 1,590 | ||||||||||||
|
| |||||||||||||||
Idaho — 1.81% | ||||||||||||||||
1,285 | Idaho State Housing & Finance Association, Grant & Revenue Anticipation Federal Highway Trust, Series A | 5.00 | 7/15/22 | 1,411 | ||||||||||||
|
| |||||||||||||||
Iowa — 2.11% | ||||||||||||||||
1,410 | City of Bettendorf Iowa, GO, Series D | 5.00 | 6/1/25 | 1,647 | ||||||||||||
|
| |||||||||||||||
Kansas — 1.24% | ||||||||||||||||
850 | City of Olathe Kansas, GO, Series 230 | 5.00 | 10/1/23 | 964 | ||||||||||||
|
| |||||||||||||||
Maryland — 1.73% | ||||||||||||||||
1,330 | Maryland State Transportation Authority Revenue, Transportation Facilities Project, Series A | 5.00 | 7/1/19 | 1,351 | ||||||||||||
|
| |||||||||||||||
Massachusetts — 3.00% | ||||||||||||||||
1,000 | Massachusetts State Bay Transportation Authority Sales Tax Revenue | 4.00 | 12/1/21 | 1,060 | ||||||||||||
600 | Massachusetts State, GO, Series A | 5.00 | 3/1/23 | 674 | ||||||||||||
600 | Massachusetts State Water Resources Authority Revenue, Series A(Pre-Refunded/Escrowed to Maturity) | 5.00 | 8/1/39 | 611 | ||||||||||||
|
| |||||||||||||||
2,345 | ||||||||||||||||
|
| |||||||||||||||
Minnesota — 0.51% | ||||||||||||||||
400 | Crow Wing County Minnesota, GO, Series A | 5.00 | 2/1/19 | 401 | ||||||||||||
|
| |||||||||||||||
Nevada — 3.95% | ||||||||||||||||
800 | Clark County Nevada Highway Improvement Revenue | 5.00 | 7/1/23 | 900 | ||||||||||||
1,105 | Las Vegas Valley Nevada Water District, GO, Series B | 5.00 | 12/1/24 | 1,282 | ||||||||||||
800 | Nevada State System of Higher Education Certificates of Participation Revenue, Series A, Callable 7/1/24 @ 100.00 | 5.00 | 7/1/26 | 906 | ||||||||||||
|
| |||||||||||||||
3,088 | ||||||||||||||||
|
| |||||||||||||||
New Mexico — 1.58% | ||||||||||||||||
1,025 | Albuquerque Municipal School District No. 12, GO, Callable 8/1/28 @ 100.00 (State Aid Withholding) | 5.00 | 8/1/29 | 1,240 | ||||||||||||
|
|
See accompanying notes to financial statements.
192
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (continued) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
New York — 7.72% | ||||||||||||||||
$ | 1,495 | New York City Transitional Finance Authority Revenue, Series D, Callable 2/1/21 @ 100.00 | 5.25 | 2/1/22 | $ | 1,598 | ||||||||||
1,700 | New York State Environmental Facilities Corp. Revenue, Callable 6/15/24 @ 100.00 | 5.00 | 6/15/29 | 1,939 | ||||||||||||
1,470 | New York State Dormitory Authority Sales Tax Revenue, Callable 9/15/28 @ 100.00 | 5.00 | 3/15/30 | 1,767 | ||||||||||||
625 | New York State Dormitory Authority State Personal Income Tax Revenue, Series A, | 5.00 | 2/15/26 | 711 | ||||||||||||
|
| |||||||||||||||
6,015 | ||||||||||||||||
|
| |||||||||||||||
North Carolina — 2.77% | ||||||||||||||||
1,500 | North Carolina State Revenue, Series B | 5.00 | 5/1/27 | 1,807 | ||||||||||||
300 | University of North Carolina at Greensboro Revenue | 5.00 | 4/1/25 | 350 | ||||||||||||
|
| |||||||||||||||
2,157 | ||||||||||||||||
|
| |||||||||||||||
Ohio — 9.38% | ||||||||||||||||
700 | American Municipal Power, Inc. Revenue, Series A, Callable 2/15/24 @ 100.00 | 5.00 | 2/15/27 | 782 | ||||||||||||
1,000 | Butler County Ohio Hospital Facilities Revenue, Series X | 5.00 | 5/15/29 | 1,207 | ||||||||||||
1,600 | Columbus Ohio State, GO, Series 1(Pre-Refunded/Escrowed to Maturity) | 5.00 | 7/1/24 | 1,808 | ||||||||||||
1,400 | Cuyahoga County Ohio, GO, Series A | 5.00 | 12/1/19 | 1,441 | ||||||||||||
1,000 | Ohio State Hospital Facility Revenue, Callable 1/1/28 @ 100.00 | 5.00 | 1/1/30 | 1,189 | ||||||||||||
800 | Ohio State University Revenue | 5.00 | 12/1/22 | 890 | ||||||||||||
|
| |||||||||||||||
7,317 | ||||||||||||||||
|
| |||||||||||||||
Pennsylvania — 3.28% | ||||||||||||||||
1,375 | Blairsville-Saltsburg School District, GO (BAM State Aid Withholding) | 5.00 | 3/15/23 | 1,521 | ||||||||||||
1,000 | Pennsylvania State, GO, Series A | 5.00 | 5/1/20 | 1,040 | ||||||||||||
|
| |||||||||||||||
2,561 | ||||||||||||||||
|
| |||||||||||||||
South Dakota — 2.51% | ||||||||||||||||
1,675 | South Dakota Board of Regents Revenue, Callable 10/1/27 @ 100.00 | 5.00 | 4/1/29 | 1,962 | ||||||||||||
|
| |||||||||||||||
Texas — 16.94% | ||||||||||||||||
710 | Dallas Texas Waterworks & Sewer System Revenue(Pre-Refunded/Escrowed to Maturity) | 5.00 | 10/1/23 | 768 | ||||||||||||
540 | Dallas Texas Waterworks & Sewer System Revenue, Callable 10/1/21 @ 100.00 | 5.00 | 10/1/23 | 584 | ||||||||||||
875 | City of Denton Texas, GO | 5.00 | 2/15/21 | 930 | ||||||||||||
1,545 | Harris County Texas Revenue, Series A, Callable 8/15/26 @ 100.00 | 5.00 | 8/15/30 | 1,794 | ||||||||||||
1,500 | Harris County Texas Cultural Education Facilities Finance Corp. Revenue, Texas Children’s Hospital, Callable 10/1/25 @ 100.00 | 5.00 | 10/1/27 | 1,731 | ||||||||||||
1,460 | Humble Independent School District, GO, Series C | 5.00 | 2/15/24 | 1,658 | ||||||||||||
1,715 | North East Independent School District Texas, GO, Series B(PSF-GTD) | 5.00 | 2/1/24 | 1,953 | ||||||||||||
300 | City of Pearland Texas, GO, Callable 3/1/27 @ 100.00 | 5.00 | 3/1/29 | 352 | ||||||||||||
935 | Sugar Land Texas, Callable 2/15/19 @ 100.00 | 5.00 | 2/15/21 | 939 | ||||||||||||
1,500 | Texas State Water Development Board Revenue, Series A, Callable 10/15/25 @ 100.00 | 5.00 | 4/15/26 | 1,753 | ||||||||||||
515 | Webb County Texas, GO | 4.50 | 2/15/19 | 517 | ||||||||||||
235 | Webb County Texas, GO | 4.50 | 2/15/19 | 236 | ||||||||||||
|
| |||||||||||||||
13,215 | ||||||||||||||||
|
| |||||||||||||||
Washington — 15.24% | ||||||||||||||||
665 | Energy Northwest Revenue, Series A | 5.00 | 7/1/19 | 676 | ||||||||||||
1,000 | King County Washington, GO | 5.25 | 1/1/23 | 1,127 | ||||||||||||
1,050 | King County School District No. 405 Bellevue, GO, Callable 12/1/27 @ 100.00 (SCH BD GTY) | 5.00 | 12/1/29 | 1,259 | ||||||||||||
1,250 | King County School District No. 410 Snoqualmie Valley, GO, Callable 6/1/27 @ 100.00 (SCH BD GTY) | 5.00 | 12/1/27 | 1,494 | ||||||||||||
1,400 | King County Washington Sewer Revenue(Pre-Refunded/Escrowed to Maturity) | 5.00 | 1/1/24 | 1,528 | ||||||||||||
750 | King County Washington Sewer Revenue | 5.00 | 1/1/20 | 774 | ||||||||||||
1,540 | City of Spokane Washington Water & Wastewater System Revenue | 5.00 | 12/1/19 | 1,585 | ||||||||||||
1,500 | Tacoma Washington Water Revenue, Series A, Callable 6/1/20 @ 100.00 | 5.00 | 12/1/22 | 1,564 |
See accompanying notes to financial statements.
193
Table of Contents
HC CAPITAL TRUST
The Intermediate Term Municipal Bond II Portfolio
Portfolio of Investments (concluded) — December 31, 2018 (Unaudited)
Principal Amount (000) | Security Description | Rate % | Maturity Date | Value (000) | ||||||||||||
Municipal Bonds (continued) | ||||||||||||||||
Washington (continued) | ||||||||||||||||
$ | 1,750 | State of Washington, GO, Series A | 5.00 | 8/1/21 | $ | 1,889 | ||||||||||
|
| |||||||||||||||
11,896 | ||||||||||||||||
|
| |||||||||||||||
Total Municipal Bonds | 75,722 | |||||||||||||||
|
| |||||||||||||||
Shares | ||||||||||||||||
Investment Company — 1.75% | ||||||||||||||||
1,361,752 | State Street Institutional Treasury Plus Money Market Fund, Trust Class | 2.27 | (a) | 1,362 | ||||||||||||
|
| |||||||||||||||
Total Investment Company | 1,362 | |||||||||||||||
|
| |||||||||||||||
Total Investments (cost $76,318) — 98.78% | �� | 77,084 | ||||||||||||||
Other assets in excess of liabilities — 1.22% | 952 | |||||||||||||||
|
| |||||||||||||||
Net Assets — 100.00% | $ | 78,036 | ||||||||||||||
|
|
(a) | The rate disclosed is the rate in effect on December 31, 2018. |
AGM — Assured Guaranty Municipal Corporation
BAM — Build America Mutual
GO — General Obligation
PSF-GTD — Public School Fund Guaranteed
SCH BD GTY — School Board Guaranty
The following table reflects the percentage of total net assets of the Portfolio attributable to each Specialist Manager as of December 31, 2018.
The Intermediate Term Municipal Bond II Portfolio | Breckinridge Capital Advisors, Inc. | HC Capital Solutions | Total | |||||||||
Municipal Bonds | 97.03 | % | — | 97.03 | % | |||||||
Investment Company | 0.35 | % | 1.40 | % | 1.75 | % | ||||||
Other Assets (Liabilities) | 1.44 | % | -0.22 | % | 1.22 | % | ||||||
|
|
|
|
|
| |||||||
Total Net Assets | 98.82 | % | 1.18 | % | 100.00 | % | ||||||
|
|
|
|
|
|
Amounts designated as “—” indicate the Specialist Manager did not manage any holdings in that category.
See accompanying notes to financial statements.
194
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | The Institutional Growth Equity Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments in securities, at value | $ | 512,650 | $ | 916,936 | $ | 701,916 | $ | 1,152,091 | ||||||||
Repurchase agreements, at value and cost | 1 | — | — | — | ||||||||||||
Cash | — | 927 | 364 | 876 | ||||||||||||
Foreign currency, at value (Cost $15, $29, $0 and $0, respectively) | 15 | 29 | — | — | ||||||||||||
Receivable for portfolio shares issued | 580 | 393 | 172 | 497 | ||||||||||||
Variation margin receivable on futures contracts | 66 | 955 | 73 | 757 | ||||||||||||
Cash held as collateral at broker for futures contracts | 450 | 5,650 | 1,000 | 6,400 | ||||||||||||
Dividends and interest receivable | 700 | 1,404 | 837 | 772 | ||||||||||||
Foreign tax reclaims receivable | — | — | 85 | 82 | ||||||||||||
Prepaid expenses | 19 | 18 | 21 | 21 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 514,481 | 926,312 | 704,468 | 1,161,496 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Payable for investments purchased | — | 926 | — | 200 | ||||||||||||
Payable for portfolio shares redeemed | 79 | — | 21 | — | ||||||||||||
Payable for collateral received on loaned securities | 1 | — | — | — | ||||||||||||
Advisory fees payable | 37 | 43 | 171 | 223 | ||||||||||||
Management fees payable | 23 | 37 | 31 | 50 | ||||||||||||
Administrative services fees payable | 23 | 33 | 26 | 37 | ||||||||||||
Trustee fees payable | 8 | 12 | 11 | 14 | ||||||||||||
Professional fees payable | 28 | 40 | 38 | 48 | ||||||||||||
Custodian fees payable | 18 | 22 | 23 | 25 | ||||||||||||
Other accrued expenses | 23 | 27 | 30 | 31 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 240 | 1,140 | 351 | 628 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 514,241 | $ | 925,172 | $ | 704,117 | $ | 1,160,868 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 30 | $ | 84 | $ | 34 | $ | 74 | ||||||||
Additionalpaid-in capital | 462,706 | 922,316 | 416,336 | 823,092 | ||||||||||||
Total distributable earnings | 51,505 | 2,772 | 287,747 | 337,702 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 514,241 | $ | 925,172 | $ | 704,117 | $ | 1,160,868 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 513,922 | $ | 924,968 | $ | 703,711 | $ | 1,160,605 | ||||||||
HC Advisors Shares | 319 | 204 | 406 | �� | 263 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 514,241 | $ | 925,172 | $ | 704,117 | $ | 1,160,868 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 29,862 | 83,869 | 34,368 | 74,345 | ||||||||||||
HC Advisors Shares | 19 | 18 | 20 | 17 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 29,881 | 83,887 | 34,388 | 74,362 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 17.21 | $ | 11.03 | $ | 20.48 | $ | 15.61 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 17.21 | $ | 11.03 | $ | 20.44 | $ | 15.61 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in securities, at cost | $ | 453,245 | $ | 906,895 | $ | 418,139 | $ | 931,586 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
195
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The Small Capitalization– Mid Capitalization Equity Portfolio | The Institutional Small Capitalization– Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | |||||||||||||
ASSETS: | ||||||||||||||||
Investments in securities, at value | $ | 83,149 | $ | 135,113 | $ | 119,805 | $ | 389,807 | ||||||||
Repurchase agreements, at value and cost | 593 | 823 | — | 5,318 | ||||||||||||
Cash | 236 | 84 | — | 1,511 | ||||||||||||
Foreign currency, at value (Cost $0, $0, $0 and | — | — | — | 4,556 | ||||||||||||
Swap agreements, at value | — | — | — | 13 | ||||||||||||
Receivable for portfolio shares issued | — | 51 | 36 | — | ||||||||||||
Receivable from investments sold | 165 | 224 | 525 | 40,169 | ||||||||||||
Variation margin receivable on futures contracts | 6 | 30 | 43 | 1,243 | ||||||||||||
Cash held as collateral at broker for futures contracts | 150 | 250 | 400 | 11,250 | ||||||||||||
Dividends and interest receivable | 72 | 130 | 451 | 1,141 | ||||||||||||
Foreign tax reclaims receivable | — | — | — | 327 | ||||||||||||
Prepaid expenses | 10 | 9 | 10 | 18 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 84,381 | 136,714 | 121,270 | 455,353 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Swap agreements, at value | — | — | — | 5 | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 74 | ||||||||||||
Payable for investments purchased | 326 | 610 | 475 | — | ||||||||||||
Payable for portfolio shares redeemed | 359 | — | 447 | 2,771 | ||||||||||||
Payable for collateral received on loaned securities | 987 | 1,368 | — | 1,360 | ||||||||||||
Advisory fees payable | 47 | 44 | 68 | 99 | ||||||||||||
Management fees payable | 3 | 6 | 5 | 30 | ||||||||||||
Administrative services fees payable | 11 | 10 | 6 | 31 | ||||||||||||
Trustee fees payable | 2 | 1 | 2 | 12 | ||||||||||||
Professional fees payable | 5 | 4 | 6 | 43 | ||||||||||||
Custodian fees payable | 7 | 5 | 4 | 72 | ||||||||||||
Other accrued expenses | 5 | 3 | 4 | 49 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 1,752 | 2,051 | 1,017 | 4,546 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 82,629 | $ | 134,663 | $ | 120,253 | $ | 450,807 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 4 | $ | 11 | $ | 44 | $ | 56 | ||||||||
Additionalpaid-in capital | 71,671 | 132,474 | 109,089 | 573,146 | ||||||||||||
Total distributable earnings/(loss) | 10,954 | 2,178 | 11,120 | (122,395 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 82,629 | $ | 134,663 | $ | 120,253 | $ | 450,807 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 82,583 | $ | 134,637 | $ | 120,253 | $ | 450,555 | ||||||||
HC Advisors Shares | 46 | 26 | — | 252 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 82,629 | $ | 134,663 | $ | 120,253 | $ | 450,807 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 3,734 | 11,419 | 43,643 | 55,793 | ||||||||||||
HC Advisors Shares | 2 | 2 | — | 31 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 3,736 | 11,421 | 43,643 | 55,824 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(b) | ||||||||||||||||
HC Strategic Shares | $ | 22.12 | $ | 11.79 | $ | 2.76 | $ | 8.08 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 22.09 | $ | 11.79 | $ | — | $ | 8.07 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in securities, at cost | $ | 70,073 | $ | 130,226 | $ | 108,478 | $ | 351,862 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. See Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
(b) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
196
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The ESG Growth Portfolio | The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments in securities, at value | $ | 130,782 | $ | 41,250 | $ | 958,758 | $ | 1,983,921 | ||||||||
Repurchase agreements, at value and cost | — | — | 4,459 | 5,755 | ||||||||||||
Cash | — | — | — | 12,471 | ||||||||||||
Foreign currency, at value (Cost $322, $86, $553 and $2,474, respectively) | 316 | 85 | 555 | 2,476 | ||||||||||||
Unrealized appreciation on forward currency contracts | — | 1 | 1 | — | ||||||||||||
Receivable for portfolio shares issued | — | — | 10,187 | 660 | ||||||||||||
Receivable from investments sold | 1 | — | 15,046 | 295 | ||||||||||||
Variation margin receivable on futures contracts | 2 | — | — | 19 | ||||||||||||
Cash held as collateral at broker for futures contracts | 50 | — | 900 | 2,250 | ||||||||||||
Dividends and interest receivable | 240 | 70 | 2,131 | 4,578 | ||||||||||||
Foreign tax reclaims receivable | 217 | 36 | 2,758 | 5,330 | ||||||||||||
Prepaid expenses | 5 | 1 | 26 | 39 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 131,613 | 41,443 | 994,821 | 2,017,794 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Payable to custodian | — | — | 38,945 | — | ||||||||||||
Unrealized depreciation on forward currency contracts | — | — | 29 | — | ||||||||||||
Payable for investments purchased | 1 | 124 | 448 | 1,412 | ||||||||||||
Payable for portfolio shares redeemed | — | — | 26,162 | 62 | ||||||||||||
Payable for collateral received on loaned securities | — | — | 7,414 | 9,568 | ||||||||||||
Variation margin payable on futures contracts | — | — | 15 | — | ||||||||||||
Advisory fees payable | 9 | 6 | 280 | 489 | ||||||||||||
Management fees payable | 6 | — | 46 | 87 | ||||||||||||
Administrative services fees payable | 5 | 7 | 52 | 75 | ||||||||||||
Trustee fees payable | — | — | 18 | 30 | ||||||||||||
Professional fees payable | 1 | 1 | 63 | 102 | ||||||||||||
Custodian fees payable | 2 | 2 | 103 | 168 | ||||||||||||
Other accrued expenses | 1 | 1 | 75 | 124 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 25 | 141 | 73,650 | 12,117 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 131,588 | $ | 41,302 | $ | 921,171 | $ | 2,005,677 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 13 | $ | 4 | $ | 97 | $ | 226 | ||||||||
Additionalpaid-in capital | 130,589 | 42,698 | 936,074 | 2,119,959 | ||||||||||||
Total distributable earnings/(loss) | 986 | (1,400 | ) | (15,000 | ) | (114,508 | ) | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 131,588 | $ | 41,302 | $ | 921,171 | $ | 2,005,677 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 131,587 | $ | 41,301 | $ | 920,273 | $ | 2,005,103 | ||||||||
HC Advisors Shares | 1 | 1 | 898 | 574 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 131,588 | $ | 41,302 | $ | 921,171 | $ | 2,005,677 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 13,227 | 3,896 | 96,779 | 226,222 | ||||||||||||
HC Advisors Shares | — | — | 94 | 65 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 13,227 | 3,896 | 96,873 | 226,287 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 9.95 | $ | 10.60 | $ | 9.51 | $ | 8.86 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 9.95 | $ | 10.61 | $ | 9.52 | $ | 8.85 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in securities, at cost
| $ | 129,033 | $ | 42,713 | $ | 952,066 | $ | 2,062,398 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
197
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments in securities, at value | $ | 1,478,695 | $ | 68,260 | $ | 618,304 | $ | 277,184 | ||||||||
Repurchase agreements, at value and cost | 11,172 | — | 26,379 | — | ||||||||||||
Cash | 3,585 | 35 | 4,596 | 453 | ||||||||||||
Foreign currency, at value (Cost $6,479, $0, $0 and $0, respectively) | 6,454 | — | — | — | ||||||||||||
Receivable for portfolio shares issued | 326 | 418 | 236 | — | ||||||||||||
Receivable from investments sold | 822 | 599 | — | 6,576 | ||||||||||||
Variation margin receivable on futures contracts | — | — | 5 | — | ||||||||||||
Cash held as collateral at broker for futures contracts | 700 | — | 268 | — | ||||||||||||
Dividends and interest receivable | 5,221 | 463 | 7,223 | 1,599 | ||||||||||||
Foreign tax reclaims receivable | 46 | — | — | — | ||||||||||||
TBA sale commitments receivable | — | 79 | — | — | ||||||||||||
Prepaid expenses | 30 | 8 | 15 | 13 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 1,507,051 | 69,862 | 657,026 | 285,825 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Written options, at fair value (Premiums received $0, $0, $204 and $0, respectively) | — | — | 259 | — | ||||||||||||
Distributions payable | — | 1 | — | 101 | ||||||||||||
Payable for investments purchased | 581 | 2,679 | — | 6,815 | ||||||||||||
Payable for portfolio shares redeemed | 4,204 | 9 | 2 | 41 | ||||||||||||
Payable for collateral received on loaned securities | 18,575 | — | 43,861 | — | ||||||||||||
Variation margin payable on futures contracts | 80 | — | — | — | ||||||||||||
Accrued foreign capital gains tax | 2,057 | — | — | — | ||||||||||||
TBA sale commitments, at fair value | — | 79 | — | — | ||||||||||||
Advisory fees payable | 956 | 4 | 340 | 14 | ||||||||||||
Management fees payable | 65 | 3 | 27 | 12 | ||||||||||||
Administrative services fees payable | 55 | 8 | 29 | 14 | ||||||||||||
Trustee fees payable | 19 | — | 6 | 2 | ||||||||||||
Professional fees payable | 69 | 1 | 21 | 8 | ||||||||||||
Custodian fees payable | 408 | 1 | 18 | 4 | ||||||||||||
Other accrued expenses | 48 | — | 14 | 5 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 27,117 | 2,785 | 44,577 | 7,016 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 1,479,934 | $ | 67,077 | $ | 612,449 | $ | 278,809 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 90 | $ | 7 | $ | 93 | $ | 29 | ||||||||
Additionalpaid-in capital | 1,638,610 | 68,846 | 678,912 | 280,431 | ||||||||||||
Total distributable loss | (158,766 | ) | (1,776 | ) | (66,556 | ) | (1,651 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 1,479,934 | $ | 67,077 | $ | 612,449 | $ | 278,809 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 1,479,253 | $ | 66,688 | $ | 612,352 | $ | 278,809 | ||||||||
HC Advisors Shares | 681 | 389 | 97 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 1,479,934 | $ | 67,077 | $ | 612,449 | $ | 278,809 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 90,138 | 7,024 | 92,756 | 28,857 | ||||||||||||
HC Advisors Shares | 42 | 41 | 14 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 90,180 | 7,065 | 92,770 | 28,857 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 16.41 | $ | 9.49 | $ | 6.60 | $ | 9.66 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 16.41 | $ | 9.49 | $ | 6.60 | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in securities, at cost | $ | 1,522,438 | $ | 69,281 | $ | 632,874 | $ | 277,028 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
198
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (continued)
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | |||||||||||||
ASSETS: | ||||||||||||||||
Investments in securities, at value | $ | 372,115 | $ | 280,297 | $ | 229,734 | $ | 91,888 | ||||||||
Receivable for portfolio shares issued | 213 | — | — | 50 | ||||||||||||
Receivable from investments sold | 4,282 | — | 1,890 | — | ||||||||||||
Dividends and interest receivable | 1,138 | 3,195 | 557 | 1,291 | ||||||||||||
TBA sale commitments receivable | — | — | 1,103 | — | ||||||||||||
Prepaid expenses | 19 | 14 | 12 | 7 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total assets | 377,767 | 283,506 | 233,296 | 93,236 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
LIABILITIES: | ||||||||||||||||
Distributions payable | 853 | 187 | 125 | 8 | ||||||||||||
Payable for investments purchased | 4,276 | — | 29,427 | — | ||||||||||||
Payable for portfolio shares redeemed | 148 | 54 | 34 | 75 | ||||||||||||
TBA sale commitments, at fair value | — | — | 1,112 | — | ||||||||||||
Income payable on TBA sale commitments | — | — | 1 | — | ||||||||||||
Advisory fees payable | 13 | 19 | 10 | 10 | ||||||||||||
Management fees payable | 16 | 12 | 9 | 4 | ||||||||||||
Administrative services fees payable | 14 | 14 | 9 | 7 | ||||||||||||
Trustee fees payable | 5 | 3 | — | 1 | ||||||||||||
Professional fees payable | 16 | 9 | 1 | 2 | ||||||||||||
Custodian fees payable | 8 | 5 | 1 | 1 | ||||||||||||
Other accrued expenses | 9 | 6 | 1 | 1 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total liabilities | 5,358 | 309 | 30,730 | 109 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS | $ | 372,409 | $ | 283,197 | $ | 202,566 | $ | 93,127 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS CONSISTS OF: | ||||||||||||||||
Shares of beneficial interest, at par value | $ | 39 | $ | 30 | $ | 22 | $ | 9 | ||||||||
Additionalpaid-in capital | 383,864 | 293,696 | 215,436 | 93,030 | ||||||||||||
Total distributable earnings/(loss) | (11,494 | ) | (10,529 | ) | (12,892 | ) | 88 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Net Assets | $ | 372,409 | $ | 283,197 | $ | 202,566 | $ | 93,127 | ||||||||
|
|
|
|
|
|
|
| |||||||||
NET ASSETS: | ||||||||||||||||
HC Strategic Shares | $ | 372,408 | $ | 283,197 | $ | 202,566 | $ | 93,127 | ||||||||
HC Advisors Shares | 1 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 372,409 | $ | 283,197 | $ | 202,566 | $ | 93,127 | ||||||||
|
|
|
|
|
|
|
| |||||||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||||||||||
HC Strategic Shares | 38,514 | 29,755 | 21,676 | 9,495 | ||||||||||||
HC Advisors Shares | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | 38,514 | 29,755 | 21,676 | 9,495 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||||||||||
HC Strategic Shares | $ | 9.67 | $ | 9.52 | $ | 9.35 | $ | 9.81 | ||||||||
|
|
|
|
|
|
|
| |||||||||
HC Advisors Shares | $ | 9.67 | $ | — | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
| |||||||||
Investments in securities, at cost | $ | 380,720 | $ | 289,544 | $ | 232,500 | $ | 91,788 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
199
Table of Contents
HC CAPITAL TRUST
Statements of Assets and Liabilities (concluded)
As of December 31, 2018 (Unaudited)
(Amounts in thousands, except per share amounts)
The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | |||||||
ASSETS: | ||||||||
Investments in securities, at value | $ | 380,289 | $ | 77,084 | ||||
Cash | 281 | — | ||||||
Receivable for portfolio shares issued | 225 | 75 | ||||||
Dividends and interest receivable | 4,236 | 1,017 | ||||||
Prepaid expenses | 11 | 7 | ||||||
|
|
|
| |||||
Total assets | 385,042 | 78,183 | ||||||
|
|
|
| |||||
LIABILITIES: | ||||||||
Distributions payable | 61 | 14 | ||||||
Payable for portfolio shares redeemed | 429 | 120 | ||||||
Advisory fees payable | 155 | 8 | ||||||
Management fees payable | 16 | 3 | ||||||
Administrative services fees payable | 14 | 2 | ||||||
Trustee fees payable | 2 | — | ||||||
Professional fees payable | 8 | — | ||||||
Custodian fees payable | 4 | — | ||||||
Other accrued expenses | 5 | — | ||||||
|
|
|
| |||||
Total liabilities | 694 | 147 | ||||||
|
|
|
| |||||
NET ASSETS | $ | 384,348 | $ | 78,036 | ||||
|
|
|
| |||||
NET ASSETS CONSISTS OF: | ||||||||
Shares of beneficial interest, at par value | $ | 39 | $ | 8 | ||||
Additionalpaid-in capital | 392,480 | 77,278 | ||||||
Total distributable earnings/(loss) | (8,171 | ) | 750 | |||||
|
|
|
| |||||
Net Assets | $ | 384,348 | $ | 78,036 | ||||
|
|
|
| |||||
NET ASSETS: | ||||||||
HC Strategic Shares | $ | 383,878 | $ | 77,914 | ||||
HC Advisors Shares | 470 | 122 | ||||||
|
|
|
| |||||
Total | $ | 384,348 | $ | 78,036 | ||||
|
|
|
| |||||
SHARES OF BENEFICIAL INTEREST OUTSTANDING | ||||||||
(Unlimited number of shares authorized; par value $0.001): | ||||||||
HC Strategic Shares | 38,916 | 7,708 | ||||||
HC Advisors Shares | 48 | 12 | ||||||
|
|
|
| |||||
Total | 38,964 | 7,720 | ||||||
|
|
|
| |||||
Net Asset Value, offering and redemption price per share:(a) | ||||||||
HC Strategic Shares | $ | 9.86 | $ | 10.11 | ||||
|
|
|
| |||||
HC Advisors Shares | $ | 9.87 | $ | 10.12 | ||||
|
|
|
| |||||
Investments in securities, at cost | $ | 387,243 | $ | 76,318 |
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Per share amounts may not recalculate due to rounding of net assets and/or shares outstanding. |
See accompanying notes to financial statements.
200
Table of Contents
HC CAPITAL TRUST
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | The Institutional Growth Equity Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 8 | $ | 19 | $ | 9 | $ | 18 | ||||||||
Dividends (net of foreign withholding tax of $6, $2, $0 and $0, respectively) | 8,081 | 12,624 | 5,792 | 9,410 | ||||||||||||
Income from securities lending (net of fees of $0, $0, $3 and $5, respectively) | 1 | — | 12 | 20 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 8,090 | 12,643 | 5,813 | 9,448 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 244 | 308 | 524 | 660 | ||||||||||||
Management fees | 152 | 236 | 205 | 301 | ||||||||||||
Administrative services fees | 104 | 156 | 132 | 192 | ||||||||||||
Distribution fees – HC Advisors Shares | 1 | — | 1 | 1 | ||||||||||||
Professional fees | 47 | 69 | 61 | 89 | ||||||||||||
Transfer agent fees | 9 | 13 | 12 | 17 | ||||||||||||
Compliance service fees | 6 | 9 | 8 | 11 | ||||||||||||
Custodian fees | 32 | 43 | 41 | 52 | ||||||||||||
Registration and filing fees | 8 | 5 | 7 | 5 | ||||||||||||
Trustee fees | 20 | 29 | 27 | 38 | ||||||||||||
Other | 27 | 37 | 34 | 46 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 650 | 905 | 1,052 | 1,412 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (1 | ) | — | (1 | ) | (1 | ) | |||||||||
Expenses paid indirectly | (5 | ) | (5 | ) | (2 | ) | (3 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 644 | 900 | 1,049 | 1,408 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 7,446 | 11,743 | 4,764 | 8,040 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investments in securities and foreign currency translations | 10,984 | 6,945 | 20,143 | 129,136 | ||||||||||||
Net realized gains/(losses) from futures transactions | (2,583 | ) | (1,310 | ) | (2,300 | ) | (1,383 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures transactions, and foreign currency translations | 8,401 | 5,635 | 17,843 | 127,753 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | (58,719 | ) | (82,289 | ) | (75,692 | ) | (212,735 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on futures | 1,032 | 6,955 | 188 | 5,485 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, and foreign currency translations | (57,687 | ) | (75,334 | ) | (75,504 | ) | (207,250 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures, and foreign currency translations | (49,286 | ) | (69,699 | ) | (57,661 | ) | (79,497 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | (41,840 | ) | $ | (57,956 | ) | $ | (52,897 | ) | $ | (71,457 | ) | ||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
201
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The Small Capitalization- Mid Capitalization Equity Portfolio | The Institutional Small Capitalization- Mid Capitalization Equity Portfolio | The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 6 | $ | 3 | $ | 3 | $ | 372 | ||||||||
Dividends (net of foreign withholding tax of $1, $2, $0 and $793, respectively) | 555 | 844 | 1,862 | 11,528 | ||||||||||||
Income from securities lending (net of fees of $7, $12, $0 and $14, respectively) | 30 | 48 | — | 57 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 591 | 895 | 1,865 | 11,957 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 266 | 322 | 402 | 917 | ||||||||||||
Management fees | 27 | 40 | 33 | 203 | ||||||||||||
Administrative services fees | 29 | 41 | 25 | 137 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | 1 | ||||||||||||
Professional fees | 8 | 11 | 10 | 63 | ||||||||||||
Transfer agent fees | 2 | 2 | 2 | 10 | ||||||||||||
Compliance service fees | 1 | 1 | 1 | 7 | ||||||||||||
Custodian fees | 11 | 14 | 8 | 106 | ||||||||||||
Registration and filing fees | 7 | 6 | 7 | — | ||||||||||||
Trustee fees | 4 | 5 | 4 | 23 | ||||||||||||
Other | 6 | 6 | 6 | 85 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 361 | 448 | 498 | 1,552 | ||||||||||||
Less: Expenses waived by Specialist Manager | — | — | — | (222 | ) | |||||||||||
Distribution fees waived – HC Advisors Shares | — | — | — | (1 | ) | |||||||||||
Expenses paid indirectly | (11 | ) | (6 | ) | (1 | ) | (2 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 350 | 442 | 497 | 1,327 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 241 | 453 | 1,368 | 10,630 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investments in securities and foreign currency translations | 4,097 | 5,643 | 879 | (14,456 | ) | |||||||||||
Net realized gains/(losses) from futures transactions | (460 | ) | (706 | ) | (150 | ) | (17,787 | ) | ||||||||
Net realized gains/(losses) from options transactions | — | — | — | (23 | ) | |||||||||||
Net realized gains/(losses) from swap transactions | — | — | — | (277 | ) | |||||||||||
Net realized gains/(losses) from forward currency contracts transactions | — | — | — | (100 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, options, swaps, and forward currency contracts transactions, and foreign currency translations | 3,637 | 4,937 | 729 | (32,643 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | (21,319 | ) | (30,173 | ) | (8,196 | ) | (116,638 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on futures | (3 | ) | (18 | ) | (497 | ) | 88 | |||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | — | 111 | ||||||||||||
Change in unrealized appreciation/(depreciation) on options | — | — | — | (52 | ) | |||||||||||
Change in unrealized appreciation/(depreciation) on forward currency contracts | — | — | — | (74 | ) | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, options, swaps, and foreign currency translations | (21,322 | ) | (30,191 | ) | (8,693 | ) | (116,565 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures, options, swaps, forward currency contracts, and foreign currency translations | (17,685 | ) | (25,254 | ) | (7,964 | ) | (149,208 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | (17,444 | ) | $ | (24,801 | ) | $ | (6,596 | ) | $ | (138,578 | ) | ||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. See Note 2O in the Notes to Financial Statements for basis of consolidation. |
See accompanying notes to financial statements.
202
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The ESG Growth Portfolio | The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 1 | $ | — | $ | 75 | $ | 75 | ||||||||
Dividends (net of foreign withholding tax of $133, $26, $1,032 and $2,430, respectively) | 1,947 | 509 | 13,801 | 29,089 | ||||||||||||
Income from securities lending (net of fees of $0, $0, $30 and $77, respectively) | — | — | 116 | 307 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 1,948 | 509 | 13,992 | 29,471 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 134 | 36 | 1,823 | 3,160 | ||||||||||||
Management fees | 40 | 11 | 294 | 565 | ||||||||||||
Administrative services fees | 41 | 25 | 205 | 368 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | 2 | 1 | ||||||||||||
Professional fees | 10 | 4 | 86 | 172 | ||||||||||||
Transfer agent fees | 2 | 1 | 16 | 32 | ||||||||||||
Compliance service fees | 1 | — | 11 | 22 | ||||||||||||
Custodian fees | 16 | 7 | 162 | 312 | ||||||||||||
Registration and filing fees | 8 | — | 7 | 3 | ||||||||||||
Trustee fees | 4 | 1 | 36 | 73 | ||||||||||||
Other | 7 | 4 | 77 | 121 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 263 | 89 | 2,719 | 4,829 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | (2 | ) | (1 | ) | ||||||||||
Expenses paid indirectly | — | — | (10 | ) | (5 | ) | ||||||||||
Expenses waived and/or reimbursed by Advisor | — | (19 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 263 | 70 | 2,707 | 4,823 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 1,685 | 439 | 11,285 | 24,648 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investments in securities and foreign currency translations | 5,421 | 1,912 | 17,230 | 13,664 | ||||||||||||
Net realized gains/(losses) from futures transactions | (306 | ) | — | (6,784 | ) | (4,747 | ) | |||||||||
Net realized gains/(losses) from forward currency contracts transactions | 4 | 18 | 350 | 74 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, and forward currency contracts transactions, and foreign currency translations | 5,119 | 1,930 | 10,796 | 8,991 | ||||||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations | (19,626 | ) | (6,550 | ) | (158,316 | ) | (287,597 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on futures | 13 | — | 2,680 | 790 | ||||||||||||
Change in unrealized appreciation/(depreciation) on forward currency contracts | — | 1 | (39 | ) | (19 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, forward currency contracts, and foreign currency translations | (19,613 | ) | (6,549 | ) | (155,675 | ) | (286,826 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures, forward currency contracts, and foreign currency translations | (14,494 | ) | (4,619 | ) | (144,879 | ) | (277,835 | ) | ||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | (12,809 | ) | $ | (4,180 | ) | $ | (133,594 | ) | $ | (253,187 | ) | ||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
203
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | The U.S. Government Fixed Income Securities Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 20 | $ | 965 | $ | 19,110 | $ | 2,877 | ||||||||
Dividends (net of foreign withholding tax of $2,908, $0, $0 and $0, respectively) | 23,554 | 52 | 1,506 | 10 | ||||||||||||
Income from securities lending (net of fees of $34, $0, $82 and $0, respectively) | 131 | — | 329 | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 23,705 | 1,017 | 20,945 | 2,887 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 3,555 | 22 | 1,113 | 74 | ||||||||||||
Management fees | 403 | 17 | 168 | 62 | ||||||||||||
Administrative services fees | 264 | 49 | 132 | 55 | ||||||||||||
Distribution fees – HC Advisors Shares | 1 | 1 | — | — | ||||||||||||
Professional fees | 130 | 3 | 45 | 18 | ||||||||||||
Transfer agent fees | 23 | 1 | 8 | 3 | ||||||||||||
Compliance service fees | 16 | — | 6 | 2 | ||||||||||||
Custodian fees | 858 | 5 | 43 | 9 | ||||||||||||
Registration and filing fees | 6 | 5 | 5 | 5 | ||||||||||||
Trustee fees | 52 | 1 | 19 | 7 | ||||||||||||
Other | 71 | 3 | 25 | 9 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers and expenses paid indirectly | 5,379 | 107 | 1,564 | 244 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | (1 | ) | (1 | ) | — | — | ||||||||||
Expenses paid indirectly | (7 | ) | — | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 5,371 | 106 | 1,564 | 244 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 18,334 | 911 | 19,381 | 2,643 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investments in securities and foreign currency translations | (22,364 | ) | (365 | ) | (2,714 | ) | (668 | ) | ||||||||
Net realized gains/(losses) from futures transactions | (4,675 | ) | — | 345 | — | |||||||||||
Net realized gains/(losses) from options and swaptions transactions | — | — | 786 | — | ||||||||||||
Net realized gains/(losses) from forward currency contracts transactions | (88 | ) | — | — | — | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized gains/(losses) from investments, futures, options and swaptions, forward currency contracts transactions, and foreign currency translations | (27,127 | ) | (365 | ) | (1,583 | ) | (668 | ) | ||||||||
Change in unrealized appreciation/(depreciation) on investments and foreign currency translations (net of deferred foreign tax) | (88,314 | ) | 427 | (19,746 | ) | 3,709 | ||||||||||
Change in unrealized appreciation/(depreciation) on futures | 121 | — | (676 | ) | — | |||||||||||
Change in unrealized appreciation/(depreciation) on options and swaptions | — | — | 277 | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on swaps | — | — | 54 | — | ||||||||||||
Change in unrealized appreciation/(depreciation) on forward currency contracts | 1 | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments, futures, options and swaptions, swaps, forward currency contracts, and foreign currency translations | (88,192 | ) | 427 | (20,091 | ) | 3,709 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments, futures, options and swaptions, swaps, forward currency contracts, and foreign currency translations | (115,319 | ) | 62 | (21,674 | ) | 3,041 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | (96,985 | ) | $ | 973 | $ | (2,293 | ) | $ | 5,684 | ||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
204
Table of Contents
HC CAPITAL TRUST
Statements of Operations (continued)
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | |||||||||||||
INVESTMENT INCOME: | ||||||||||||||||
Interest | $ | 4,642 | $ | 5,287 | $ | 2,548 | $ | 770 | ||||||||
Dividends | 66 | 55 | 311 | 24 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Income | 4,708 | 5,342 | 2,859 | 794 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
EXPENSES: | ||||||||||||||||
Advisory fees | 78 | 114 | 61 | 55 | ||||||||||||
Management fees | 99 | 72 | 51 | 22 | ||||||||||||
Administrative services fees | 67 | 58 | 80 | 27 | ||||||||||||
Distribution fees – HC Advisors Shares | — | — | — | — | ||||||||||||
Professional fees | 29 | 20 | 9 | 6 | ||||||||||||
Transfer agent fees | 5 | 4 | 2 | 1 | ||||||||||||
Compliance service fees | 4 | 3 | 1 | 1 | ||||||||||||
Custodian fees | 17 | 12 | 8 | 4 | ||||||||||||
Registration and filing fees | 9 | 5 | 5 | 5 | ||||||||||||
Trustee fees | 13 | 8 | 4 | 2 | ||||||||||||
Other | 16 | 11 | 5 | 3 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total expenses before waivers | 337 | 307 | 226 | 126 | ||||||||||||
Less: Distribution fees waived – HC Advisors Shares | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Expenses | 337 | 307 | 226 | 126 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Net Investment Income | 4,371 | 5,035 | 2,633 | 668 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||||||||||
Net realized gains/(losses) from investments in securities | (1,313 | ) | (764 | ) | 50 | — | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in unrealized appreciation/(depreciation) on investments | (8,476 | ) | (1,329 | ) | 1,042 | 117 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Net realized/unrealized gains/(losses) from investments | (9,789 | ) | (2,093 | ) | 1,092 | 117 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Change in net assets resulting from operations | $ | (5,418 | ) | $ | 2,942 | $ | 3,725 | $ | 785 | |||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
205
Table of Contents
HC CAPITAL TRUST
Statements of Operations (concluded)
For the Six Months Ended December 31, 2018 (Unaudited)
(Amounts in thousands)
The Intermediate Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond II Portfolio | |||||||
INVESTMENT INCOME: | ||||||||
Interest | $ | 4,109 | $ | 950 | ||||
Dividends | 777 | 19 | ||||||
|
|
|
| |||||
Total Investment Income | 4,886 | 969 | ||||||
|
|
|
| |||||
EXPENSES: | ||||||||
Advisory fees | 360 | 48 | ||||||
Management fees | 97 | 20 | ||||||
Administrative services fees | 73 | 23 | ||||||
Distribution fees – HC Advisors Shares | 1 | — | ||||||
Professional fees | 24 | 6 | ||||||
Transfer agent fees | 4 | 1 | ||||||
Compliance service fees | 3 | 1 | ||||||
Custodian fees | 13 | 5 | ||||||
Registration and filing fees | 6 | 6 | ||||||
Trustee fees | 10 | 2 | ||||||
Other | 17 | 5 | ||||||
|
|
|
| |||||
Total expenses before waivers | 608 | 117 | ||||||
Less: Distribution fees waived – HC Advisors Shares | (1 | ) | — | |||||
|
|
|
| |||||
Net Expenses | 607 | 117 | ||||||
|
|
|
| |||||
Net Investment Income | 4,279 | 852 | ||||||
|
|
|
| |||||
NET REALIZED/UNREALIZED GAIN/(LOSS) ON INVESTMENTS: | ||||||||
Net realized gains/(losses) from investments in securities | (39 | ) | 44 | |||||
|
|
|
| |||||
Change in unrealized appreciation/(depreciation) on investments | (1,127 | ) | 252 | |||||
|
|
|
| |||||
Net realized/unrealized gains/(losses) from investments | (1,166 | ) | 296 | |||||
|
|
|
| |||||
Change in net assets resulting from operations | $ | 3,113 | $ | 1,148 | ||||
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
206
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets
(Amounts in thousands)
The Value Equity Portfolio | The Institutional Value Equity Portfolio | The Growth Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 7,446 | $ | 13,021 | $ | 11,743 | $ | 17,659 | $ | 4,764 | $ | 7,774 | ||||||||||||
Net realized gains/(losses) from investments | 8,401 | 37,822 | 5,635 | 67,838 | 17,843 | 53,136 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (57,687 | ) | 4,627 | (75,334 | ) | (18,888 | ) | (75,504 | ) | 81,390 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | (41,840 | ) | 55,470 | (57,956 | ) | 66,609 | (52,897 | ) | 142,300 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (38,413 | ) | (41,613 | ) | (75,365 | ) | (72,209 | ) | (48,256 | ) | (46,030 | ) | ||||||||||||
HC Advisors Shares | (30 | ) | (58 | ) | (20 | ) | (127 | ) | (36 | ) | (64 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (38,443 | ) | (41,671 | ) | (75,385 | ) | (72,336 | ) | (48,292 | ) | (46,094 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 11,464 | $ | 14,232 | $ | 97,643 | $ | 174,514 | $ | 8,744 | $ | 11,927 | ||||||||||||
Proceeds from reinvestment of dividends | 34,067 | 36,777 | 75,101 | 71,888 | 41,865 | 40,172 | ||||||||||||||||||
Cost of shares redeemed | (50,842 | ) | (77,844 | ) | (43,147 | ) | (109,132 | ) | (54,650 | ) | (125,879 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (5,311 | ) | (26,835 | ) | 129,597 | 137,270 | (4,041 | ) | (73,780 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | 33 | — | 127 | — | 6 | ||||||||||||||||||
Cost of shares redeemed | (297 | ) | (218 | ) | (505 | ) | (889 | ) | (443 | ) | (323 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (297 | ) | (185 | ) | (505 | ) | (762 | ) | (443 | ) | (317 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (5,608 | ) | $ | (27,020 | ) | $ | 129,092 | $ | 136,508 | $ | (4,484 | ) | $ | (74,097 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | (85,891 | ) | (13,221 | ) | (4,249 | ) | 130,781 | (105,673 | ) | 22,109 | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 600,132 | 613,353 | 929,421 | 798,640 | 809,790 | 787,681 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 514,241 | $ | 600,132 | $ | 925,172 | $ | 929,421 | $ | 704,117 | $ | 809,790 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 630 | 700 | 8,876 | 13,104 | 425 | 522 | ||||||||||||||||||
Reinvested | 1,920 | 1,807 | 6,610 | 5,414 | 2,003 | 1,799 | ||||||||||||||||||
Redeemed | (2,737 | ) | (3,827 | ) | (3,309 | ) | (8,182 | ) | (2,420 | ) | (5,599 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | (187 | ) | (1,320 | ) | 12,177 | 10,336 | 8 | (3,278 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | 1 | — | 9 | — | — | ||||||||||||||||||
Redeemed | (15 | ) | (11 | ) | (39 | ) | (67 | ) | (19 | ) | (15 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (15 | ) | (10 | ) | (39 | ) | (58 | ) | (19 | ) | (15 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | (202 | ) | (1,330 | ) | 12,138 | 10,278 | (11 | ) | (3,293 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
207
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Institutional Growth Equity Portfolio | The Small Capitalization- Mid Capitalization Equity Portfolio | The Institutional Small Capitalization- Mid Capitalization Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 8,040 | $ | 11,708 | $ | 241 | $ | 405 | $ | 453 | $ | 774 | ||||||||||||
Net realized gains/(losses) from investments | 127,753 | 93,520 | 3,637 | 9,846 | 4,937 | 30,536 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (207,250 | ) | 86,809 | (21,322 | ) | 7,276 | (30,191 | ) | (4,556 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | (71,457 | ) | 192,037 | (17,444 | ) | 17,527 | (24,801 | ) | 26,754 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (90,723 | ) | (54,197 | ) | (8,960 | ) | (391 | ) | (32,886 | ) | (14,253 | ) | ||||||||||||
HC Advisors Shares | (25 | ) | (98 | ) | (7 | ) | (1 | ) | (8 | ) | (23 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (90,748 | ) | (54,295 | ) | (8,967 | ) | (392 | ) | (32,894 | ) | (14,276 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 105,566 | $ | 151,336 | $ | 1,616 | $ | 3,677 | $ | 8,697 | $ | 18,867 | ||||||||||||
Proceeds from reinvestment of dividends | 89,758 | 53,469 | 8,142 | 323 | 32,783 | 14,112 | ||||||||||||||||||
Cost of shares redeemed | (60,261 | ) | (188,900 | ) | (11,273 | ) | (18,022 | ) | (8,935 | ) | (29,666 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 135,063 | 15,905 | (1,515 | ) | (14,022 | ) | 32,545 | 3,313 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | 11 | — | — | — | 26 | ||||||||||||||||||
Cost of shares redeemed | (731 | ) | (1,219 | ) | (55 | ) | (39 | ) | (93 | ) | (154 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (731 | ) | (1,208 | ) | (55 | ) | (39 | ) | (93 | ) | (128 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 134,332 | $ | 14,697 | $ | (1,570 | ) | $ | (14,061 | ) | $ | 32,452 | $ | 3,185 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | (27,873 | ) | 152,439 | (27,981 | ) | 3,074 | (25,243 | ) | 15,663 | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,188,741 | 1,036,302 | 110,610 | 107,536 | 159,906 | 144,243 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 1,160,868 | $ | 1,188,741 | $ | 82,629 | $ | 110,610 | $ | 134,663 | $ | 159,906 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 6,845 | 8,511 | 58 | 134 | 534 | 1,066 | ||||||||||||||||||
Reinvested | 5,639 | 3,080 | 361 | 12 | 2,732 | 828 | ||||||||||||||||||
Redeemed | (3,231 | ) | (10,746 | ) | (428 | ) | (659 | ) | (536 | ) | (1,638 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 9,253 | 845 | (9 | ) | (513 | ) | 2,730 | 256 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | 1 | — | — | — | 1 | ||||||||||||||||||
Redeemed | (39 | ) | (70 | ) | (2 | ) | (1 | ) | (5 | ) | (9 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (39 | ) | (69 | ) | (2 | ) | (1 | ) | (5 | ) | (8 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 9,214 | 776 | (11 | ) | (514 | ) | 2,725 | 248 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
208
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Real Estate Securities Portfolio | The Commodity Returns Strategy Portfolio(a) | The ESG Growth Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 1,368 | $ | 2,175 | $ | 10,630 | $ | 20,980 | $ | 1,685 | $ | 4,318 | ||||||||||||
Net realized gains/(losses) from investments | 729 | 1,711 | (32,643 | ) | 20,397 | 5,119 | 1,856 | |||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (8,693 | ) | 646 | (116,565 | ) | 100,666 | (19,613 | ) | 8,860 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | (6,596 | ) | 4,532 | (138,578 | ) | 142,043 | (12,809 | ) | 15,034 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (3,667 | ) | (5,588 | ) | (11,924 | ) | (25,703 | ) | (6,802 | ) | (4,367 | ) | ||||||||||||
HC Advisors Shares | — | — | (5 | ) | — | — | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (3,667 | ) | (5,588 | ) | (11,929 | ) | (25,703 | ) | (6,802 | ) | (4,367 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 4,620 | $ | 16,037 | $ | 12,219 | $ | 59,959 | $ | 921 | $ | 9,739 | ||||||||||||
Proceeds from reinvestment of dividends | 3,429 | 5,446 | 9,531 | 21,931 | 5,299 | 1,277 | ||||||||||||||||||
Cost of shares redeemed | (9,134 | ) | (12,620 | ) | (282,186 | ) | (101,457 | ) | (21,545 | ) | (3,803 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (1,085 | ) | 8,863 | (260,436 | ) | (19,567 | ) | (15,325 | ) | 7,213 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | — | 83 | — | — | ||||||||||||||||||
Cost of shares redeemed | — | — | (379 | ) | (613 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | (379 | ) | (530 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (1,085 | ) | $ | 8,863 | $ | (260,815 | ) | $ | (20,097 | ) | $ | (15,325 | ) | $ | 7,213 | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | (11,348 | ) | 7,807 | (411,322 | ) | 96,243 | (34,936 | ) | 17,880 | |||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 131,601 | 123,794 | 862,129 | 765,886 | 166,524 | 148,644 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 120,253 | $ | 131,601 | $ | 450,807 | $ | 862,129 | $ | 131,588 | $ | 166,524 | ||||||||||||
|
|
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|
|
|
|
|
|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,520 | 5,549 | 1,279 | 6,283 | 95 | 837 | ||||||||||||||||||
Reinvested | 1,205 | 1,840 | 1,080 | 2,322 | 521 | 112 | ||||||||||||||||||
Redeemed | (3,089 | ) | (4,276 | ) | (34,821 | ) | (10,504 | ) | (1,974 | ) | (328 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | (364 | ) | 3,113 | (32,462 | ) | (1,899 | ) | (1,358 | ) | 621 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | 10 | — | — | ||||||||||||||||||
Redeemed | — | — | (41 | ) | (64 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | (41 | ) | (54 | ) | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | (364 | ) | 3,113 | (32,503 | ) | (1,953 | ) | (1,358 | ) | 621 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
(a) | Statement has been consolidated. Please see Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
See accompanying notes to financial statements.
209
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Catholic SRI Growth Portfolio | The International Equity Portfolio | The Institutional International Equity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 439 | $ | 790 | $ | 11,285 | $ | 37,564 | $ | 24,648 | $ | 81,258 | ||||||||||||
Net realized gains/(losses) from investments | 1,930 | 848 | 10,796 | 10,324 | 8,991 | 109,552 | ||||||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (6,549 | ) | 1,505 | (155,675 | ) | 22,266 | (286,826 | ) | (45,376 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | (4,180 | ) | 3,143 | (133,594 | ) | 70,154 | (253,187 | ) | 145,434 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (3,151 | ) | (1,524 | ) | (3,068 | ) | (37,147 | ) | (116,931 | ) | (96,060 | ) | ||||||||||||
HC Advisors Shares | — | — | (3 | ) | (52 | ) | (35 | ) | (124 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (3,151 | ) | (1,524 | ) | (3,071 | ) | (37,199 | ) | (116,966 | ) | (96,184 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 17,043 | $ | 122 | $ | 28,551 | $ | 74,982 | $ | 33,627 | $ | 217,409 | ||||||||||||
Proceeds from reinvestment of dividends | 3,151 | 1,524 | 2,146 | 26,226 | 111,018 | 80,159 | ||||||||||||||||||
Cost of shares redeemed | (975 | ) | (1,844 | ) | (187,102 | ) | (155,020 | ) | (101,852 | ) | (466,891 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 19,219 | (198 | ) | (156,405 | ) | (53,812 | ) | 42,793 | (169,323 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | 75 | 1 | 57 | 100 | ||||||||||||||||||
Cost of shares redeemed | — | — | (686 | ) | (648 | ) | (1,241 | ) | (2,393 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | (611 | ) | (647 | ) | (1,184 | ) | (2,293 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 19,219 | $ | (198 | ) | $ | (157,016 | ) | $ | (54,459 | ) | $ | 41,609 | $ | (171,616 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 11,888 | 1,421 | (293,681 | ) | (21,504 | ) | (328,544 | ) | (122,366 | ) | ||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 29,414 | 27,993 | 1,214,852 | 1,236,356 | 2,334,221 | 2,456,587 | ||||||||||||||||||
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|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 41,302 | $ | 29,414 | $ | 921,171 | $ | 1,214,852 | $ | 2,005,677 | $ | 2,334,221 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 1,369 | 10 | 2,731 | 6,628 | 3,318 | 19,692 | ||||||||||||||||||
Reinvested | 291 | 119 | 231 | 2,429 | 12,402 | 7,360 | ||||||||||||||||||
Redeemed | (78 | ) | (143 | ) | (19,168 | ) | (13,814 | ) | (10,228 | ) | (42,632 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 1,582 | (14 | ) | (16,206 | ) | (4,757 | ) | 5,492 | (15,580 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | 7 | — | 6 | 9 | ||||||||||||||||||
Redeemed | — | — | (68 | ) | (57 | ) | (118 | ) | (216 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | (61 | ) | (57 | ) | (112 | ) | (207 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | 1,582 | (14 | ) | (16,267 | ) | (4,814 | ) | 5,380 | (15,787 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
210
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The Emerging Markets Portfolio | The Core Fixed Income Portfolio | The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 18,334 | $ | 37,719 | $ | 911 | $ | 1,807 | $ | 19,381 | $ | 37,315 | ||||||||||||
Net realized gains/(losses) from investments | (27,127 | ) | 73,320 | (365 | ) | (14 | ) | (1,583 | ) | 7,004 | ||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | (88,192 | ) | (76,982 | ) | 427 | (2,115 | ) | (20,091 | ) | (17,271 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | (96,985 | ) | 34,057 | 973 | (322 | ) | (2,293 | ) | 27,048 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (29,759 | ) | (37,919 | ) | (953 | ) | (1,807 | ) | (20,686 | ) | (36,991 | ) | ||||||||||||
HC Advisors Shares | (15 | ) | (59 | ) | (7 | ) | (59 | ) | (3 | ) | (36 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (29,774 | ) | (37,978 | ) | (960 | ) | (1,866 | ) | (20,689 | ) | (37,027 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 66,804 | $ | 152,878 | $ | 4,721 | $ | 11,829 | $ | 12,253 | $ | 69,888 | ||||||||||||
Proceeds from reinvestment of dividends | 25,236 | 32,032 | 949 | 1,802 | 17,989 | 32,361 | ||||||||||||||||||
Cost of shares redeemed | (117,951 | ) | (324,405 | ) | (4,381 | ) | (31,780 | ) | (68,182 | ) | (92,686 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (25,911 | ) | (139,495 | ) | 1,289 | (18,149 | ) | (37,940 | ) | 9,563 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | 101 | 43 | 7 | 320 | — | 74 | ||||||||||||||||||
Cost of shares redeemed | (811 | ) | (1,325 | ) | (981 | ) | (1,829 | ) | (262 | ) | (495 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | (710 | ) | (1,282 | ) | (974 | ) | (1,509 | ) | (262 | ) | (421 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (26,621 | ) | $ | (140,777 | ) | $ | 315 | $ | (19,658 | ) | $ | (38,202 | ) | $ | 9,142 | ||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | (153,380 | ) | (144,698 | ) | 328 | (21,846 | ) | (61,184 | ) | (837 | ) | |||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 1,633,314 | 1,778,012 | 66,749 | 88,595 | 673,633 | 674,470 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 1,479,934 | $ | 1,633,314 | $ | 67,077 | $ | 66,749 | $ | 612,449 | $ | 673,633 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 3,844 | 7,956 | 501 | 1,218 | 1,790 | 9,968 | ||||||||||||||||||
Reinvested | 1,571 | 1,658 | 101 | 186 | 2,671 | 4,672 | ||||||||||||||||||
Redeemed | (7,054 | ) | (16,917 | ) | (465 | ) | (3,261 | ) | (10,027 | ) | (13,264 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | (1,639 | ) | (7,303 | ) | 137 | (1,857 | ) | (5,566 | ) | 1,376 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | 6 | 3 | 1 | 32 | — | 10 | ||||||||||||||||||
Redeemed | (46 | ) | (68 | ) | (103 | ) | (190 | ) | (39 | ) | (71 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | (40 | ) | (65 | ) | (102 | ) | (158 | ) | (39 | ) | (61 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total change in shares | (1,679 | ) | (7,368 | ) | 35 | (2,015 | ) | (5,605 | ) | 1,315 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
211
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Government Fixed Income Securities Portfolio | The Inflation Protected Securities Portfolio | The U.S. Corporate Fixed Income Securities Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 2,643 | $ | 3,951 | $ | 4,371 | $ | 10,021 | $ | 5,035 | $ | 8,031 | ||||||||||||
Net realized gains/(losses) from investments | (668 | ) | (604 | ) | (1,313 | ) | (534 | ) | (764 | ) | 336 | |||||||||||||
Change in unrealized appreciation/(depreciation) from investments | 3,709 | (5,057 | ) | (8,476 | ) | (2,329 | ) | (1,329 | ) | (11,731 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from operations | 5,684 | (1,710 | ) | (5,418 | ) | 7,158 | 2,942 | (3,364 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (2,744 | ) | (3,895 | ) | (7,136 | ) | (8,925 | ) | (5,262 | ) | (8,809 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets resulting from distributions | (2,744 | ) | (3,895 | ) | (7,136 | ) | (8,925 | ) | (5,262 | ) | (8,809 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 51,068 | $ | 42,103 | $ | 4,671 | $ | 63,067 | $ | 5,113 | $ | 56,118 | ||||||||||||
Proceeds from reinvestment of dividends | 2,281 | 3,129 | 5,774 | 7,611 | 4,338 | 7,308 | ||||||||||||||||||
Cost of shares redeemed | (10,857 | ) | (21,845 | ) | (26,939 | ) | (29,451 | ) | (10,890 | ) | (19,205 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | 42,492 | 23,387 | (16,494 | ) | 41,227 | (1,439 | ) | 44,221 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | — | — | — | — | ||||||||||||||||||
Cost of shares redeemed | — | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets from shares of beneficial interest | $ | 42,492 | $ | 23,387 | $ | (16,494 | ) | $ | 41,227 | $ | (1,439 | ) | $ | 44,221 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in net assets | 45,432 | 17,782 | (29,048 | ) | 39,460 | (3,759 | ) | 32,048 | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 233,377 | 215,595 | 401,457 | 361,997 | 286,956 | 254,908 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
End of period | $ | 278,809 | $ | 233,377 | $ | 372,409 | $ | 401,457 | $ | 283,197 | $ | 286,956 | ||||||||||||
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|
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|
|
|
| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 5,422 | 4,358 | 471 | 6,280 | 536 | 5,682 | ||||||||||||||||||
Reinvested | 239 | 322 | 591 | 757 | 454 | 738 | ||||||||||||||||||
Redeemed | (1,140 | ) | (2,243 | ) | (2,752 | ) | (2,920 | ) | (1,142 | ) | (1,936 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Change in HC Strategic Shares | 4,521 | 2,437 | (1,690 | ) | 4,117 | (152 | ) | 4,484 | ||||||||||||||||
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|
|
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| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | — | — | — | ||||||||||||||||||
Redeemed | — | — | — | — | — | — | ||||||||||||||||||
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|
|
|
|
|
|
|
| |||||||||||||
Change in HC Advisors Shares | — | — | — | — | — | — | ||||||||||||||||||
|
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|
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|
|
|
|
|
|
| |||||||||||||
Total change in shares | 4,521 | 2,437 | (1,690 | ) | 4,117 | (152 | ) | 4,484 | ||||||||||||||||
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|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
212
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (continued)
(Amounts in thousands)
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio | The Short-Term Municipal Bond Portfolio | The Intermediate Term Municipal Bond Portfolio | ||||||||||||||||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||||||||||||||
Operations: | ||||||||||||||||||||||||
Net investment income | $ | 2,633 | $ | 4,283 | $ | 668 | $ | 367 | $ | 4,279 | $ | 7,639 | ||||||||||||
Net realized gains/(losses) from investments | 50 | (686 | ) | — | (2 | ) | (39 | ) | 1,004 | |||||||||||||||
Change in unrealized appreciation/(depreciation) from investments | 1,042 | (4,024 | ) | 117 | (66 | ) | (1,127 | ) | (8,265 | ) | ||||||||||||||
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|
|
|
|
|
|
|
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|
| |||||||||||||
Change in net assets resulting from operations | 3,725 | (427 | ) | 785 | 299 | 3,113 | 378 | |||||||||||||||||
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| |||||||||||||
Distributions to Shareholders from: | ||||||||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
HC Strategic Shares | (3,146 | ) | (5,116 | ) | (690 | ) | (347 | ) | (4,526 | ) | (7,607 | ) | ||||||||||||
HC Advisors Shares | — | — | — | — | (8 | ) | — | |||||||||||||||||
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| |||||||||||||
Change in net assets resulting from distributions | (3,146 | ) | (5,116 | ) | (690 | ) | (347 | ) | (4,534 | ) | (7,607 | ) | ||||||||||||
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| |||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Proceeds from shares issued | $ | 2,935 | $ | 37,726 | $ | 16,435 | $ | 67,127 | $ | 11,608 | $ | 42,500 | ||||||||||||
Proceeds from reinvestment of dividends | 2,561 | 4,123 | 656 | 340 | 4,248 | 7,137 | ||||||||||||||||||
Cost of shares redeemed | (8,647 | ) | (15,002 | ) | (3,671 | ) | (5,595 | ) | (13,760 | ) | (44,369 | ) | ||||||||||||
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| |||||||||||||
Change in net assets from HC Strategic Shares of beneficial interest | (3,151 | ) | 26,847 | 13,420 | 61,872 | 2,096 | 5,268 | |||||||||||||||||
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| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Proceeds from shares issued | — | — | — | — | — | 129 | ||||||||||||||||||
Cost of shares redeemed | — | — | — | — | (535 | ) | (530 | ) | ||||||||||||||||
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| |||||||||||||
Change in net assets from HC Advisors Shares of beneficial interest | — | — | — | — | (535 | ) | (401 | ) | ||||||||||||||||
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| |||||||||||||
Change in net assets from shares of beneficial interest | $ | (3,151 | ) | $ | 26,847 | $ | 13,420 | $ | 61,872 | $ | 1,561 | $ | 4,867 | |||||||||||
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|
|
| |||||||||||||
Change in net assets | (2,572 | ) | 21,304 | 13,515 | 61,824 | 140 | (2,362 | ) | ||||||||||||||||
Net Assets: | ||||||||||||||||||||||||
Beginning of period | 205,138 | 183,834 | 79,612 | 17,788 | 384,208 | 386,570 | ||||||||||||||||||
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| |||||||||||||
End of period | $ | 202,566 | $ | 205,138 | $ | 93,127 | $ | 79,612 | $ | 384,348 | $ | 384,208 | ||||||||||||
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| |||||||||||||
Share Transactions: | ||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||
Issued | 316 | 3,997 | 1,679 | 6,858 | 1,177 | 4,253 | ||||||||||||||||||
Reinvested | 276 | 436 | 67 | 35 | 432 | 715 | ||||||||||||||||||
Redeemed | (934 | ) | (1,587 | ) | (375 | ) | (572 | ) | (1,399 | ) | (4,468 | ) | ||||||||||||
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|
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| |||||||||||||
Change in HC Strategic Shares | (342 | ) | 2,846 | 1,371 | 6,321 | 210 | 500 | |||||||||||||||||
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| |||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||
Issued | — | — | — | — | — | 13 | ||||||||||||||||||
Redeemed | — | — | — | — | (54 | ) | (54 | ) | ||||||||||||||||
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| |||||||||||||
Change in HC Advisors Shares | — | — | — | — | (54 | ) | (41 | ) | ||||||||||||||||
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| |||||||||||||
Total change in shares | (342 | ) | 2,846 | 1,371 | 6,321 | 156 | 459 | |||||||||||||||||
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|
|
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|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
213
Table of Contents
HC CAPITAL TRUST
Statements of Changes in Net Assets (concluded)
(Amounts in thousands)
The Intermediate Term Municipal Bond II Portfolio | ||||||||
For the Six Months Ended December 31, 2018 (Unaudited) | For the Year Ended June 30, 2018 | |||||||
Operations: | ||||||||
Net investment income | $ | 852 | $ | 1,657 | ||||
Net realized gains/(losses) from investments | 44 | 66 | ||||||
Change in unrealized appreciation/(depreciation) from investments | 252 | (1,674 | ) | |||||
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|
|
| |||||
Change in net assets resulting from operations | 1,148 | 49 | ||||||
|
|
|
| |||||
Distributions to Shareholders from: | ||||||||
Distributions: | ||||||||
HC Strategic Shares | (992 | ) | (1,645 | ) | ||||
HC Advisors Shares | (2 | ) | (8 | ) | ||||
|
|
|
| |||||
Change in net assets resulting from distributions | (994 | ) | (1,653 | ) | ||||
|
|
|
| |||||
HC Strategic Shares | ||||||||
Proceeds from shares issued | $ | 2,823 | $ | 10,763 | ||||
Proceeds from reinvestment of dividends | 923 | 1,533 | ||||||
Cost of shares redeemed | (3,441 | ) | (7,407 | ) | ||||
|
|
|
| |||||
Change in net assets from HC Strategic Shares of beneficial interest | 305 | 4,889 | ||||||
|
|
|
| |||||
HC Advisors Shares | ||||||||
Proceeds from shares issued | — | 33 | ||||||
Cost of shares redeemed | (138 | ) | (138 | ) | ||||
|
|
|
| |||||
Change in net assets from HC Advisors Shares of beneficial interest | (138 | ) | (105 | ) | ||||
|
|
|
| |||||
Change in net assets from shares of beneficial interest | $ | 167 | $ | 4,784 | ||||
|
|
|
| |||||
Change in net assets | 321 | 3,180 | ||||||
Net Assets: | ||||||||
Beginning of period | 77,715 | 74,535 | ||||||
|
|
|
| |||||
End of period | $ | 78,036 | $ | 77,715 | ||||
|
|
|
| |||||
Share Transactions: | ||||||||
HC Strategic Shares | ||||||||
Issued | 280 | 1,053 | ||||||
Reinvested | 92 | 151 | ||||||
Redeemed | (342 | ) | (729 | ) | ||||
|
|
|
| |||||
Change in HC Strategic Shares | 30 | 475 | ||||||
|
|
|
| |||||
HC Advisors Shares | ||||||||
Issued | — | 3 | ||||||
Redeemed | (14 | ) | (13 | ) | ||||
|
|
|
| |||||
Change in HC Advisors Shares | (14 | ) | (10 | ) | ||||
|
|
|
| |||||
Total change in shares | 16 | 465 | ||||||
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
See accompanying notes to financial statements.
214
Table of Contents
HC CAPITAL TRUST
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset | Total | Net Assets, at | Ratio of | Ratio of | Ratio of Net | Portfolio | |||||||||||||||||||||||||||||||||||||||||||
The Value Equity Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 19.95 | $ | 0.25 | $ | (1.67 | ) | $ | (1.42 | ) | $ | (0.25 | ) | $ | (1.07 | ) | $ | (1.32 | ) | $ | 17.21 |
| (7.25 | )% | $ | 513,922 | 0.21 | % | 0.21 | % | 2.45 | % | 55.14 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 19.53 | 0.42 | 1.36 | 1.78 | (0.44 | ) | (0.92 | ) | (1.36 | ) | 19.95 | 9.11 | % | 599,457 | 0.27 | % | 0.26 | % | 2.10 | % | 58.60 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 17.70 | 0.42 | 2.51 | 2.93 | (0.41 | ) | (0.69 | ) | (1.10 | ) | 19.53 | 16.78 | % | 612,508 | 0.29 | % | 0.28 | % | 2.22 | % | 61.30 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 18.46 | 0.41 | (0.02 | ) | 0.39 | (0.41 | ) | (0.74 | ) | (1.15 | ) | 17.70 | 2.49 | % | 583,078 | 0.27 | % | 0.26 | % | 2.35 | % | 66.86 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 17.88 | 0.36 | 0.58 | 0.94 | (0.36 | ) | — | (0.36 | ) | 18.46 | 5.27 | % | 622,022 | 0.29 | % | 0.28 | % | 1.95 | % | 123.19 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.42 | 2.94 | 3.36 | (0.42 | ) | — | (0.42 | ) | 17.88 | 22.69 | % | 628,645 | 0.32 | % | 0.31 | % | 2.44 | % | 53.96 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 19.95 | $ | 0.28 | $ | (1.70 | ) | $ | (1.42 | ) | $ | (0.25 | ) | $ | (1.07 | ) | $ | (1.32 | ) | $ | 17.21 |
| (7.25 | )% | $ | 319 | 0.46 | % | 0.21 | % | 2.46 | % | 55.14 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 19.52 | 0.43 | 1.36 | 1.79 | (0.44 | ) | (0.92 | ) | (1.36 | ) | 19.95 | 9.17 | % | 675 | 0.52 | % | 0.26 | % | 2.08 | % | 58.60 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 17.69 | 0.42 | 2.51 | 2.93 | (0.41 | ) | (0.69 | ) | (1.10 | ) | 19.52 | 16.79 | % | 845 | 0.54 | % | 0.28 | % | 2.22 | % | 61.30 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 18.46 | 0.44 | (0.06 | ) | 0.38 | (0.41 | ) | (0.74 | ) | (1.15 | ) | 17.69 | 2.43 | % | 786 | 0.52 | % | 0.26 | % | 2.38 | % | 66.86 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 17.88 | 0.36 | 0.58 | 0.94 | (0.36 | ) | — | (0.36 | ) | 18.46 | 5.27 | % | 1,163 | 0.54 | % | 0.28 | % | 1.94 | % | 123.19 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 14.94 | 0.43 | 2.93 | 3.36 | (0.42 | ) | — | (0.42 | ) | 17.88 | 22.69 | % | 1,217 | 0.57 | % | 0.31 | % | 2.43 | % | 53.96 | % | |||||||||||||||||||||||||||||||||||
The Institutional Value Equity Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 12.95 | $ | 0.16 | $ | (1.02 | ) | $ | (0.86 | ) | $ | (0.16 | ) | $ | (0.90 | ) | $ | (1.06 | ) | $ | 11.03 |
| (6.76 | )% | $ | 924,968 | 0.19 | % | 0.19 | % | 2.49 | % | 25.85 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 12.99 | 0.26 | 0.83 | 1.09 | (0.27 | ) | (0.86 | ) | (1.13 | ) | 12.95 | 8.35 | % | 928,683 | 0.26 | % | 0.25 | % | 2.04 | % | 68.39 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 11.99 | 0.27 | 1.69 | 1.96 | (0.26 | ) | (0.70 | ) | (0.96 | ) | 12.99 | 16.66 | % | 797,147 | 0.29 | % | 0.28 | % | 2.08 | % | 55.25 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 13.49 | 0.27 | (0.05 | ) | 0.22 | (0.27 | ) | (1.45 | ) | (1.72 | ) | 11.99 | 2.44 | % | 912,029 | 0.26 | % | 0.25 | % | 2.24 | % | 67.08 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 14.79 | 0.27 | 0.44 | 0.71 | (0.28 | ) | (1.73 | ) | (2.01 | ) | 13.49 | 5.05 | % | 915,067 | 0.28 | % | 0.27 | % | 1.95 | % | 119.98 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (d) | 2.66 | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | 14.79 | 22.82 | % | 1,036,650 | 0.32 | % | 0.31 | % | 2.45 | % | 63.68 | % | |||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 12.96 | $ | 0.21 | $ | (1.08 | ) | $ | (0.87 | ) | $ | (0.16 | ) | $ | (0.90 | ) | $ | (1.06 | ) | $ | 11.03 |
| (6.83 | )% | $ | 204 | 0.44 | % | 0.19 | % | 2.53 | % | 25.85 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 13.00 | 0.30 | 0.79 | 1.09 | (0.27 | ) | (0.86 | ) | (1.13 | ) | 12.96 | 8.34 | % | 738 | 0.51 | % | 0.25 | % | 1.99 | % | 68.39 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 12.00 | 0.27 | 1.69 | 1.96 | (0.26 | ) | (0.70 | ) | (0.96 | ) | 13.00 | 16.65 | % | 1,493 | 0.54 | % | 0.28 | % | 2.13 | % | 55.25 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 13.50 | 0.28 | (0.06 | ) | 0.22 | (0.27 | ) | (1.45 | ) | (1.72 | ) | 12.00 | 2.44 | % | 1,435 | 0.51 | % | 0.25 | % | 2.25 | % | 67.08 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 14.79 | 0.27 | 0.45 | 0.72 | (0.28 | ) | (1.73 | ) | (2.01 | ) | 13.50 | 5.12 | % | 1,613 | 0.53 | % | 0.27 | % | 1.96 | % | 119.98 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 14.60 | 0.36 | (d) | 2.66 | 3.02 | (0.35 | ) | (2.48 | ) | (2.83 | ) | 14.79 | 22.82 | % | 1,434 | 0.57 | % | 0.31 | % | 2.45 | % | 63.68 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Per share amounts are based on average shares outstanding. |
See accompanying notes to financial statements.
215
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||||||||||||||||||||
The Growth Equity Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 23.54 | $ | 0.14 | $ | (1.74 | ) | $ | (1.60 | ) | $ | (0.14 | ) | $ | (1.32 | ) | $ | (1.46 | ) | $ | 20.48 |
| (6.88 | )% | $ | 703,711 | 0.26 | % | 0.26 | % | 1.16 | % | 22.84 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 20.90 | 0.22 | 3.70 | 3.92 | (0.22 | ) | (1.06 | ) | (1.28 | ) | 23.54 | 19.12 | % | 808,868 | 0.30 | % | 0.29 | % | 0.96 | % | 39.77 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 18.78 | 0.19 | 3.27 | 3.46 | (0.19 | ) | (1.15 | ) | (1.34 | ) | 20.90 | 19.31 | % | 786,563 | 0.31 | % | 0.31 | % | 0.98 | % | 38.28 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 22.37 | 0.20 | 1.03 | 1.23 | (0.20 | ) | (4.62 | ) | (4.82 | ) | 18.78 | 5.88 | % | 763,770 | 0.29 | % | 0.29 | % | 0.99 | % | 38.90 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 20.51 | 0.19 | 2.10 | 2.29 | (0.19 | ) | (0.24 | ) | (0.43 | ) | 22.37 | 11.27 | % | 872,004 | 0.30 | % | 0.30 | % | 0.88 | % | 57.33 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 16.95 | 0.21 | 3.56 | 3.77 | (0.21 | ) | — | (0.21 | ) | 20.51 | 22.33 | % | 839,813 | 0.28 | % | 0.28 | % | 1.09 | % | 30.28 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 23.50 | $ | 0.15 | $ | (1.75 | ) | $ | (1.60 | ) | $ | (0.14 | ) | $ | (1.32 | ) | $ | (1.46 | ) | $ | 20.44 |
| (6.90 | )% | $ | 406 | 0.51 | % | 0.26 | % | 1.14 | % | 22.84 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 20.86 | 0.22 | 3.70 | 3.92 | (0.22 | ) | (1.06 | ) | (1.28 | ) | 23.50 | 19.16 | % | 922 | 0.55 | % | 0.29 | % | 0.94 | % | 39.77 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 18.76 | 0.19 | 3.25 | 3.44 | (0.19 | ) | (1.15 | ) | (1.34 | ) | 20.86 | 19.23 | % | 1,118 | 0.56 | % | 0.31 | % | 0.98 | % | 38.28 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 22.35 | 0.22 | 1.01 | 1.23 | (0.20 | ) | (4.62 | ) | (4.82 | ) | 18.76 | 5.89 | % | 1,085 | 0.54 | % | 0.29 | % | 1.00 | % | 38.90 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 20.48 | 0.19 | 2.11 | 2.30 | (0.19 | ) | (0.24 | ) | (0.43 | ) | 22.35 | 11.34 | % | 1,623 | 0.55 | % | 0.30 | % | 0.88 | % | 57.33 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 16.93 | 0.21 | 3.55 | 3.76 | (0.21 | ) | — | (0.21 | ) | 20.48 | 22.29 | % | 1,690 | 0.53 | % | 0.28 | % | 1.09 | % | 30.28 | % | |||||||||||||||||||||||||||||||||||
The Institutional Growth Equity Portfolio |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 18.25 | $ | 0.12 | $ | (1.33 | ) | $ | (1.21 | ) | $ | (0.12 | ) | $ | (1.31 | ) | $ | (1.43 | ) | $ | 15.61 |
| (6.75 | )% | $ | 1,160,605 | 0.23 | % | 0.23 | % | 1.33 | % | 28.97 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 16.10 | 0.18 | 2.82 | 3.00 | (0.18 | ) | (0.67 | ) | (0.85 | ) | 18.25 | 18.97 | % | 1,187,715 | 0.28 | % | 0.28 | % | 1.04 | % | 43.36 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 14.80 | 0.17 | 2.48 | 2.65 | (0.17 | ) | (1.18 | ) | (1.35 | ) | 16.10 | 19.03 | % | 1,034,294 | 0.29 | % | 0.29 | % | 1.06 | % | 21.93 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 17.14 | 0.16 | 0.85 | 1.01 | (0.16 | ) | (3.19 | ) | (3.35 | ) | 14.80 | 6.36 | % | 1,282,473 | 0.27 | % | 0.27 | % | 1.05 | % | 37.43 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 16.59 | 0.16 | 1.63 | 1.79 | (0.15 | ) | (1.09 | ) | (1.24 | ) | 17.14 | 11.14 | % | 1,317,132 | 0.29 | % | 0.28 | % | 0.93 | % | 96.81 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 15.00 | 0.18 | 3.01 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | 16.59 | 22.19 | % | 1,442,721 | 0.26 | % | 0.26 | % | 1.15 | % | 48.43 | % | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 18.25 | $ | 0.13 | $ | (1.34 | ) | $ | (1.21 | ) | $ | (0.12 | ) | $ | (1.31 | ) | $ | (1.43 | ) | $ | 15.61 |
| (6.76 | )% | $ | 263 | 0.48 | % | 0.23 | % | 1.14 | % | 28.97 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 16.10 | 0.20 | 2.80 | 3.00 | (0.18 | ) | (0.67 | ) | (0.85 | ) | 18.25 | 18.97 | % | 1,026 | 0.53 | % | 0.28 | % | 1.00 | % | 43.36 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 14.80 | 0.17 | 2.48 | 2.65 | (0.17 | ) | (1.18 | ) | (1.35 | ) | 16.10 | 19.03 | % | 2,008 | 0.54 | % | 0.29 | % | 1.08 | % | 21.93 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 17.15 | 0.17 | 0.83 | 1.00 | (0.16 | ) | (3.19 | ) | (3.35 | ) | 14.80 | 6.30 | % | 1,931 | 0.52 | % | 0.27 | % | 1.05 | % | 37.43 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 16.59 | 0.16 | 1.64 | 1.80 | (0.15 | ) | (1.09 | ) | (1.24 | ) | 17.15 | 11.20 | % | 2,187 | 0.54 | % | 0.28 | % | 0.93 | % | 96.81 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 15.00 | 0.19 | 3.00 | 3.19 | (0.19 | ) | (1.41 | ) | (1.60 | ) | 16.59 | 22.19 | % | 1,935 | 0.51 | % | 0.26 | % | 1.16 | % | 48.43 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
See accompanying notes to financial statements.
216
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | ||||||||||||||||||||||||||||||||||||||||||||||
The SmallCapitalization-Mid Capitalization Equity Portfolio |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 29.52 | $ | 0.06 | $ | (4.92 | ) | $ | (4.86 | ) | $ | (0.07 | ) | $ | (2.47 | ) | $ | — | $ | (2.54 | ) | $ | 22.12 |
| (16.61 | )% | $ | 82,583 | 0.68 | % | 0.66 | % | 0.45 | % | 41.27 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 25.23 | 0.10 | 4.29 | 4.39 | (0.10 | ) | — | — | (0.10 | ) | 29.52 | 17.42 | % | 110,489 | 0.77 | % | 0.76 | % | 0.37 | % | 61.65 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 21.04 | 0.02 | 4.20 | 4.22 | (0.03 | ) | — | — | (0.03 | ) | 25.23 | 20.07 | % | 107,395 | 0.83 | % | 0.82 | % | 0.09 | % | 48.52 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 22.68 | 0.02 | (1.65 | ) | (1.63 | ) | (0.01 | ) | — | — | (d) | (0.01 | ) | 21.04 | (7.17 | )% | 98,325 | 0.79 | % | 0.76 | % | 0.09 | % | 48.89 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 21.22 | (0.01 | ) | 1.48 | 1.47 | (0.01 | ) | — | — | (0.01 | ) | 22.68 | 6.91 | % | 114,754 | 0.83 | % | 0.82 | % | (0.06 | )% | 67.34 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.12 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | (0.07 | ) | 21.22 | 24.38 | % | 113,698 | 0.61 | % | 0.60 | % | 0.32 | % | 41.18 | % | ||||||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 29.49 | $ | 0.08 | $ | (4.94 | ) | $ | (4.86 | ) | $ | (0.07 | ) | $ | (2.47 | ) | $ | — | $ | (2.54 | ) | $ | 22.09 |
| (16.63 | )% | $ | 46 | 0.93 | % | 0.66 | % | 0.42 | % | 41.27 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 25.21 | 0.10 | 4.28 | 4.38 | (0.10 | ) | — | — | (0.10 | ) | 29.49 | 17.40 | % | 121 | 1.02 | % | 0.76 | % | 0.36 | % | 61.65 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 21.02 | 0.02 | 4.20 | 4.22 | (0.03 | ) | — | — | (0.03 | ) | 25.21 | 20.09 | % | 141 | 1.08 | % | 0.82 | % | 0.09 | % | 48.52 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 22.66 | 0.01 | (1.64 | ) | (1.63 | ) | (0.01 | ) | — | — | (d) | (0.01 | ) | 21.02 | (7.18 | )% | 131 | 1.04 | % | 0.76 | % | 0.08 | % | 48.89 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 21.20 | (0.01 | ) | 1.48 | 1.47 | (0.01 | ) | — | — | (0.01 | ) | 22.66 | 6.92 | % | 195 | 1.08 | % | 0.82 | % | (0.06 | )% | 67.34 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.10 | 0.06 | 4.11 | 4.17 | (0.07 | ) | — | — | (0.07 | ) | 21.20 | 24.41 | % | 207 | 0.86 | % | 0.60 | % | 0.32 | % | 41.18 | % | ||||||||||||||||||||||||||||||||||||||
The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 18.39 | $ | 0.04 | $ | (2.84 | ) | $ | (2.80 | ) | $ | (0.03 | ) | $ | (3.77 | ) | $ | — | $ | (3.80 | ) | $ | 11.79 |
| (15.55 | )% | $ | 134,637 | 0.56 | % | 0.56 | % | 0.57 | % | 24.82 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 17.08 | 0.08 | 2.88 | 2.96 | (0.08 | ) | (1.57 | ) | — | (1.65 | ) | 18.39 | 18.11 | % | 159,774 | 0.70 | % | 0.70 | % | 0.49 | % | 95.15 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 14.57 | 0.02 | 2.81 | 2.83 | (0.03 | ) | (0.29 | ) | — | (0.32 | ) | 17.08 | 19.50 | % | 143,995 | 0.75 | % | 0.75 | % | 0.14 | % | 47.63 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 16.61 | 0.03 | (1.15 | ) | (1.12 | ) | — | (0.90 | ) | (0.02 | ) | (0.92 | ) | 14.57 | (6.69 | )% | 192,253 | 0.72 | % | 0.69 | % | 0.17 | % | 52.38 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 17.19 | 0.01 | 1.14 | 1.15 | (0.01 | ) | (1.72 | ) | — | (1.73 | ) | 16.61 | 7.43 | % | 200,423 | 0.81 | % | 0.80 | % | 0.03 | % | 83.94 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (0.03 | ) | (3.18 | ) | — | (3.21 | ) | 17.19 | 20.85 | % | 182,460 | 0.70 | % | 0.70 | % | 0.21 | % | 67.75 | % | |||||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 18.39 | $ | 0.06 | $ | (2.86 | ) | $ | (2.80 | ) | $ | (0.03 | ) | $ | (3.77 | ) | $ | — | $ | (3.80 | ) | $ | 11.79 |
| (15.55 | )% | $ | 26 | 0.81 | % | 0.56 | % | 0.50 | % | 24.82 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 17.07 | 0.10 | 2.87 | 2.97 | (0.08 | ) | (1.57 | ) | — | (1.65 | ) | 18.39 | 18.18 | % | 132 | 0.95 | % | 0.70 | % | 0.50 | % | 95.15 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 14.57 | 0.03 | 2.79 | 2.82 | (0.03 | ) | (0.29 | ) | — | (0.32 | ) | 17.07 | 19.43 | % | 248 | 1.00 | % | 0.75 | % | 0.16 | % | 47.63 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 16.61 | 0.03 | (1.15 | ) | (1.12 | ) | — | (0.90 | ) | (0.02 | ) | (0.92 | ) | 14.57 | (6.69 | )% | 235 | 0.97 | % | 0.69 | % | 0.16 | % | 52.38 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 17.19 | 0.01 | 1.14 | 1.15 | (0.01 | ) | (1.72 | ) | — | (1.73 | ) | 16.61 | 7.43 | % | 265 | 1.06 | % | 0.80 | % | 0.03 | % | 83.94 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.09 | 0.03 | 3.28 | 3.31 | (0.03 | ) | (3.18 | ) | — | (3.21 | ) | 17.19 | 20.85 | % | 239 | 0.95 | % | 0.70 | % | 0.22 | % | 67.75 | % | |||||||||||||||||||||||||||||||||||||
The Real Estate Securities Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 2.99 | $ | 0.03 | $ | (0.18 | ) | $ | (0.15 | ) | $ | (0.05 | ) | $ | (0.03 | ) | $ | — | $ | (0.08 | ) | $ | 2.76 |
| (4.93 | )% | $ | 120,253 | 0.76 | % | 0.76 | % | 2.08 | % | 23.26 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 3.03 | 0.05 | 0.05 | 0.10 | (0.05 | ) | (0.09 | ) | — | (0.14 | ) | 2.99 | 3.20 | % | 131,601 | 0.74 | % | 0.74 | % | 1.76 | % | 49.59 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 3.39 | 0.04 | (0.05 | ) | (0.01 | ) | (0.04 | ) | (0.31 | ) | — | (0.35 | ) | 3.03 | 0.44 | % | 123,794 | 0.77 | % | 0.77 | % | 1.19 | % | 58.32 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 3.24 | 0.05 | 0.52 | 0.57 | (0.04 | ) | (0.38 | ) | — | (0.42 | ) | 3.39 | 18.81 | % | 151,512 | 0.77 | % | 0.77 | % | 1.44 | % | 51.03 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 3.20 | 0.04 | 0.21 | 0.25 | (0.05 | ) | (0.16 | ) | — | (0.21 | ) | 3.24 | 7.44 | % | 132,758 | 0.79 | % | 0.79 | % | 1.22 | % | 60.49 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014(e) | 2.76 | 0.05 | 0.41 | 0.46 | (0.02 | ) | — | (d) | — | (0.02 | ) | 3.20 | 17.00 | % | 171,583 | 0.79 | % | 0.78 | % | 1.94 | % | 52.49 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued |
(d) | Amount rounds to less than $0.005 per share. |
(e) | For the period September 12, 2013 (commencement of operations) through June 30, 2014. |
See accompanying notes to financial statements.
217
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||||||||||||||||||||
The Commodity Returns Strategy Portfolio(d) |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.76 | $ | 0.12 | $ | (1.66 | ) | $ | (1.54 | ) | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | $ | 8.08 |
| (15.90 | )% | $ | 450,555 | 0.38 | % | 0.33 | % | 2.63 | % | 6.41 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 8.48 | 0.23 | 1.34 | 1.57 | (0.29 | ) | — | (0.29 | ) | 9.76 | 18.61 | % | 861,431 | 0.40 | % | 0.35 | % | 2.46 | % | 28.82 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 7.87 | 0.18 | 0.60 | 0.78 | (0.17 | ) | — | (0.17 | ) | 8.48 | 9.87 | % | 764,818 | 0.42 | % | 0.42 | % | 1.99 | % | 56.34 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 8.80 | 0.14 | (0.94 | ) | �� | (0.80 | ) | (0.13 | ) | — | (0.13 | ) | 7.87 | (9.01 | )% | 1,111,071 | 0.44 | % | 0.44 | % | 1.89 | % | 130.01 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 11.64 | 0.13 | (2.79 | ) | (2.66 | ) | (0.14 | ) | (0.04 | ) | (0.18 | ) | 8.80 | (22.91 | )% | 1,193,003 | 0.63 | % | 0.63 | % | 1.40 | % | 63.29 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.82 | 0.09 | 1.83 | 1.92 | (0.10 | ) | — | (0.10 | ) | 11.64 | 19.64 | % | 1,174,593 | 0.66 | % | 0.66 | % | 0.87 | % | 61.70 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.76 | $ | 0.14 | $ | (1.69 | ) | $ | (1.55 | ) | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | $ | 8.07 |
| (16.00 | )% | $ | 252 | 0.63 | % | 0.33 | % | 2.58 | % | 6.41 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 8.48 | 0.20 | 1.37 | 1.57 | (0.29 | ) | — | (0.29 | ) | 9.76 | 18.61 | % | 698 | 0.65 | % | 0.35 | % | 2.38 | % | 28.82 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 7.86 | 0.17 | 0.62 | 0.79 | (0.17 | ) | — | (0.17 | ) | 8.48 | 10.01 | % | 1,068 | 0.67 | % | 0.42 | % | 1.99 | % | 56.34 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 8.80 | 0.14 | (0.95 | ) | (0.81 | ) | (0.13 | ) | — | (0.13 | ) | 7.86 | (9.12 | )% | 1,351 | 0.69 | % | 0.44 | % | 1.86 | % | 130.01 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 11.63 | 0.13 | (2.78 | ) | (2.65 | ) | (0.14 | ) | (0.04 | ) | (0.18 | ) | 8.80 | (22.84 | )% | 1,635 | 0.88 | % | 0.63 | % | 1.37 | % | 63.29 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.81 | 0.08 | 1.84 | 1.92 | (0.10 | ) | — | (0.10 | ) | 11.63 | 19.66 | % | 1,621 | 0.91 | % | 0.66 | % | 0.81 | % | 61.70 | % | |||||||||||||||||||||||||||||||||||
The ESG Growth Portfolio HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 11.42 | $ | 0.12 | $ | (1.06 | ) | $ | (0.94 | ) | $ | (0.15 | ) | $ | (0.38 | ) | $ | (0.53 | ) | $ | 9.95 |
| (8.31 | )% | $ | 131,587 | 0.33 | % | 0.33 | % | 2.10 | % | 51.07 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 10.65 | 0.30 | 0.78 | 1.08 | (0.31 | ) | — | (0.31 | ) | 11.42 | 10.16 | % | 166,523 | 0.29 | % | 0.29 | % | 2.69 | % | 15.54 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.34 | 0.27 | 1.32 | 1.59 | (0.28 | ) | — | (0.28 | ) | 10.65 | 17.19 | % | 148,643 | 0.35 | % | 0.34 | % | 2.70 | % | 25.45 | % | |||||||||||||||||||||||||||||||||||
Period Ended June 30, 2016(e) | 10.00 | 0.24 | (0.65 | ) | (0.41 | ) | (0.23 | ) | (0.02 | ) | (0.25 | ) | 9.34 | (4.16 | )% | 121,325 | 0.42 | % | 0.42 | % | 2.76 | % | 35.90 | % | ||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 11.41 | $ | 0.12 | $ | (1.05 | ) | $ | (0.93 | ) | $ | (0.15 | ) | $ | (0.38 | ) | $ | (0.53 | ) | $ | 9.95 |
| (8.22 | )% | $ | 1 | 0.58 | % | 0.33 | % | 2.16 | % | 51.07 | % | ||||||||||||||||||||||
Year Ended June 30, 2018 | 10.64 | 0.30 | 0.78 | 1.08 | (0.31 | ) | — | (0.31 | ) | 11.41 | 10.17 | % | 1 | 0.54 | % | 0.29 | % | 2.67 | % | 15.54 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.34 | 0.27 | 1.31 | 1.58 | (0.28 | ) | — | (0.28 | ) | 10.64 | 17.08 | % | 1 | 0.60 | % | 0.34 | % | 2.67 | % | 25.45 | % | |||||||||||||||||||||||||||||||||||
Period Ended June 30, 2016(e) | 10.00 | 0.24 | (0.65 | ) | (0.41 | ) | (0.23 | ) | (0.02 | ) | (0.25 | ) | 9.34 | (4.16 | )% | 1 | 0.67 | % | 0.42 | % | 2.76 | % | 35.90 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Statement has been consolidated. See Note 2.O. in the Notes to Financial Statements for basis of consolidation. |
(e) | For the period July 14, 2015 (commencement of operations) through June 30, 2016. |
See accompanying notes to financial statements.
218
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||||||||||||||||||||
The Catholic SRI Growth Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 12.71 | $ | 0.12 | $ | (1.34 | ) | $ | (1.22 | ) | $ | (0.16 | ) | $ | (0.73 | ) | $ | (0.89 | ) | $ | 10.60 | (9.67 | )% | $ | 41,301 | 0.40 | % | 0.31 | % | 1.95 | % | 48.10 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 12.02 | 0.34 | 1.00 | 1.34 | (0.34 | ) | (0.31 | ) | (0.65 | ) | 12.71 | 11.23 | % | 29,413 | 0.37 | % | 0.31 | % | 2.65 | % | 17.01 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.75 | 0.31 | 1.58 | 1.89 | (0.35 | ) | (0.27 | ) | (0.62 | ) | 12.02 | 18.02 | % | 27,992 | 0.57 | % | 0.31 | % | 2.85 | % | 27.41 | % | ||||||||||||||||||||||||||||||||||
Period Ended June 30, 2016(d) | 10.00 | 0.19 | 0.74 | 0.93 | (0.18 | ) | — | (0.18 | ) | 10.75 | 8.81 | % | 20,324 | 0.84 | % | 0.31 | % | 3.88 | % | 25.63 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 12.72 | $ | 0.13 | $ | (1.35 | ) | $ | (1.22 | ) | $ | (0.16 | ) | $ | (0.73 | ) | $ | (0.89 | ) | $ | 10.61 | (9.66 | )% | $ | 1 | 0.65 | % | 0.31 | % | 2.15 | % | 48.10 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 12.03 | 0.35 | 0.99 | 1.34 | (0.34 | ) | (0.31 | ) | (0.65 | ) | 12.72 | 11.22 | % | 1 | 0.62 | % | 0.31 | % | 2.72 | % | 17.01 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.76 | 0.32 | 1.57 | 1.89 | (0.35 | ) | (0.27 | ) | (0.62 | ) | 12.03 | 18.00 | % | 1 | 0.82 | % | 0.31 | % | 2.77 | % | 27.41 | % | ||||||||||||||||||||||||||||||||||
Period Ended June 30, 2016(d) | 10.00 | 0.19 | 0.75 | 0.94 | (0.18 | ) | — | (0.18 | ) | 10.76 | 8.91 | % | 1 | 1.09 | % | 0.31 | % | 3.88 | % | 25.63 | % | |||||||||||||||||||||||||||||||||||
The International Equity Portfolio |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.74 | $ | 0.11 | $ | (1.31 | ) | $ | (1.20 | ) | $ | (0.03 | ) | $ | — | $ | (0.03 | ) | $ | 9.51 | (11.18 | )% | $ | 920,273 | 0.46 | % | 0.46 | % | 1.92 | % | 36.44 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.48 | 0.33 | 0.26 | 0.59 | (0.33 | ) | — | (0.33 | ) | 10.74 | 5.60 | % | 1,213,191 | 0.44 | % | 0.44 | % | 2.88 | % | 29.94 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.00 | 0.29 | 1.49 | 1.78 | (0.30 | ) | — | (0.30 | ) | 10.48 | 19.75 | % | 1,234,134 | 0.43 | % | 0.42 | % | 2.74 | % | 52.75 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 11.18 | 0.28 | (1.40 | ) | (1.12 | ) | (0.27 | ) | (0.79 | ) | (1.06 | ) | 9.00 | (10.15 | )% | 1,165,041 | 0.38 | % | 0.37 | % | 2.75 | % | 42.41 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 13.56 | 0.30 | (0.96 | ) | (0.66 | ) | (0.34 | ) | (1.38 | ) | (1.72 | ) | 11.18 | (4.50 | )% | 1,522,384 | 0.38 | % | 0.38 | % | 2.61 | % | 48.85 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 11.35 | 0.43 | 2.25 | 2.68 | (0.43 | ) | (0.04 | ) | (0.47 | ) | 13.56 | 23.72 | % | 1,613,553 | 0.42 | % | 0.42 | % | 3.26 | % | 55.23 | % | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.75 | $ | 0.14 | $ | (1.34 | ) | $ | (1.20 | ) | $ | (0.03 | ) | $ | — | $ | (0.03 | ) | $ | 9.52 | (11.17 | )% | $ | 898 | 0.71 | % | 0.46 | % | 1.91 | % | 36.44 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.49 | 0.38 | 0.21 | 0.59 | (0.33 | ) | — | (0.33 | ) | 10.75 | 5.60 | % | 1,661 | 0.69 | % | 0.44 | % | 2.77 | % | 29.94 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.00 | 0.28 | 1.51 | 1.79 | (0.30 | ) | — | (0.30 | ) | 10.49 | 19.87 | % | 2,222 | 0.68 | % | 0.42 | % | 2.79 | % | 52.75 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 11.18 | 0.28 | (1.40 | ) | (1.12 | ) | (0.27 | ) | (0.79 | ) | (1.06 | ) | 9.00 | (10.16 | )% | 1,986 | 0.63 | % | 0.37 | % | 2.64 | % | 42.41 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 13.56 | 0.30 | (0.96 | ) | (0.66 | ) | (0.34 | ) | (1.38 | ) | (1.72 | ) | 11.18 | (4.50 | )% | 3,032 | 0.63 | % | 0.38 | % | 2.59 | % | 48.85 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 11.36 | 0.43 | 2.24 | 2.67 | (0.43 | ) | (0.04 | ) | (0.47 | ) | 13.56 | 23.61 | % | 3,136 | 0.67 | % | 0.42 | % | 3.24 | % | 55.23 | % | ||||||||||||||||||||||||||||||||||
The Institutional International Equity Portfolio |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.57 | $ | 0.11 | $ | (1.28 | ) | $ | (1.17 | ) | $ | (0.15 | ) | $ | (0.39 | ) | $ | (0.54 | ) | $ | 8.86 | (11.08 | )% | $ | 2,005,103 | 0.43 | % | 0.43 | % | 2.18 | % | 20.52 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 10.38 | 0.35 | 0.26 | 0.61 | (0.40 | ) | (0.02 | ) | (0.42 | ) | 10.57 | 5.77 | % | 2,332,353 | 0.40 | % | 0.40 | % | 3.11 | % | 40.38 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 8.87 | 0.28 | 1.52 | 1.80 | (0.29 | ) | — | (0.29 | ) | 10.38 | 20.38 | % | 2,452,608 | 0.40 | % | 0.40 | % | 2.83 | % | 52.79 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.58 | 0.28 | (1.28 | ) | (1.00 | ) | (0.27 | ) | (0.44 | ) | (0.71 | ) | 8.87 | (9.54 | )% | 2,586,742 | 0.36 | % | 0.36 | % | 3.00 | % | 43.96 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 12.58 | 0.29 | (0.89 | ) | (0.60 | ) | (0.32 | ) | (1.08 | ) | (1.40 | ) | 10.58 | (4.38 | )% | 2,869,985 | 0.36 | % | 0.36 | % | 2.69 | % | 52.55 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.40 | 2.17 | 2.57 | (0.40 | ) | (0.46 | ) | (0.86 | ) | 12.58 | 24.16 | % | 3,001,838 | 0.40 | % | 0.40 | % | 3.35 | % | 64.38 | % | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.56 | $ | 0.15 | $ | (1.32 | ) | $ | (1.17 | ) | $ | (0.15 | ) | $ | (0.39 | ) | $ | (0.54 | ) | $ | 8.85 | (11.09 | )% | $ | 574 | 0.68 | % | 0.43 | % | 1.99 | % | 20.52 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 10.37 | 0.30 | 0.31 | 0.61 | (0.40 | ) | (0.02 | ) | (0.42 | ) | 10.56 | 5.78 | % | 1,868 | 0.65 | % | 0.40 | % | 2.78 | % | 40.38 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 8.86 | 0.28 | 1.52 | 1.80 | (0.29 | ) | — | (0.29 | ) | 10.37 | 20.40 | % | 3,979 | 0.65 | % | 0.40 | % | 2.84 | % | 52.79 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.57 | 0.28 | (1.28 | ) | (1.00 | ) | (0.27 | ) | (0.44 | ) | (0.71 | ) | 8.86 | (9.56 | )% | 3,554 | 0.61 | % | 0.36 | % | 2.98 | % | 43.96 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 12.57 | 0.30 | (0.90 | ) | (0.60 | ) | (0.32 | ) | (1.08 | ) | (1.40 | ) | 10.57 | (4.38 | )% | 4,108 | 0.61 | % | 0.36 | % | 2.81 | % | 52.55 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 10.87 | 0.41 | 2.15 | 2.56 | (0.40 | ) | (0.46 | ) | (0.86 | ) | 12.57 | 24.07 | % | 3,598 | 0.65 | % | 0.40 | % | 3.27 | % | 64.38 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period January 12, 2016 (commencement of operations) through June 30, 2016. |
See accompanying notes to financial statements.
219
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||||||||||||||||||||
The Emerging Markets Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 17.78 | $ | 0.20 | $ | (1.24 | ) | $ | (1.04 | ) | $ | (0.33 | ) | $ | — | $ | (0.33 | ) | $ | 16.41 | (5.81 | )% | $ | 1,479,253 | 0.67 | % | 0.67 | % | 2.28 | % | 29.13 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 17.92 | 0.40 | (d) | (0.13 | ) | 0.27 | (0.41 | ) | — | (0.41 | ) | 17.78 | 1.34 | % | 1,631,863 | 0.67 | % | 0.67 | % | 2.09 | % | 54.90 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 15.15 | 0.35 | 2.84 | 3.19 | (0.42 | ) | — | (0.42 | ) | 17.92 | 21.51 | % | 1,775,379 | 0.59 | % | 0.59 | % | 2.04 | % | 60.79 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 17.58 | 0.37 | (2.44 | ) | (2.07 | ) | (0.36 | ) | — | (0.36 | ) | 15.15 | (11.66 | )% | 1,833,571 | 0.57 | % | 0.57 | % | 2.82 | % | 40.02 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 20.01 | 0.40 | (2.11 | ) | (1.71 | ) | (0.41 | ) | (0.31 | ) | (0.72 | ) | 17.58 | (8.48 | )% | 1,893,047 | 0.59 | % | 0.59 | % | 2.32 | % | 85.72 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.51 | 2.86 | (0.36 | ) | — | (0.36 | ) | 20.01 | 16.48 | % | 1,813,476 | 0.73 | % | 0.73 | % | 2.26 | % | 75.84 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 17.78 | $ | 0.20 | $ | (1.24 | ) | $ | (1.04 | ) | $ | (0.33 | ) | $ | — | $ | (0.33 | ) | $ | 16.41 | (5.81 | )% | $ | 681 | 0.92 | % | 0.67 | % | 2.47 | % | 29.13 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 17.92 | 0.38 | (d) | (0.11 | ) | 0.27 | (0.41 | ) | — | (0.41 | ) | 17.78 | 1.34 | % | 1,451 | 0.92 | % | 0.67 | % | 1.97 | % | 54.90 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 15.15 | 0.35 | 2.84 | 3.19 | (0.42 | ) | — | (0.42 | ) | 17.92 | 21.51 | % | 2,633 | 0.84 | % | 0.59 | % | 2.04 | % | 60.79 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 17.57 | 0.39 | (2.45 | ) | (2.06 | ) | (0.36 | ) | — | (0.36 | ) | 15.15 | (11.61 | )% | 2,349 | 0.82 | % | 0.57 | % | 2.69 | % | 40.02 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 20.00 | 0.42 | (2.13 | ) | (1.71 | ) | (0.41 | ) | (0.31 | ) | (0.72 | ) | 17.57 | (8.49 | )% | 3,017 | 0.84 | % | 0.59 | % | 2.34 | % | 85.72 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 17.51 | 0.35 | 2.50 | 2.85 | (0.36 | ) | — | (0.36 | ) | 20.00 | 16.42 | % | 2,861 | 0.98 | % | 0.73 | % | 2.25 | % | 75.84 | % | |||||||||||||||||||||||||||||||||||
The Core Fixed Income Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.49 | $ | 0.13 | $ | 0.01 | $ | 0.14 | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | $ | 9.49 | 1.47 | % | $ | 66,688 | 0.32 | % | 0.32 | % | 2.74 | % | 22.30 | %(e) | ||||||||||||||||||||||||||
Year Ended June 30, 2018 | 9.80 | 0.22 | (0.30 | ) | (0.08 | ) | (0.23 | ) | — | (0.23 | ) | 9.49 | (0.85 | )% | 65,387 | 0.33 | % | 0.33 | % | 2.26 | % | 43.79 | %(e) | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.01 | 0.19 | (0.18 | ) | 0.01 | (0.22 | ) | — | (0.22 | ) | 9.80 | 0.07 | % | 85,653 | 0.33 | % | 0.33 | % | 1.97 | % | 45.74 | %(e) | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 9.78 | 0.21 | 0.35 | 0.56 | (0.24 | ) | (0.09 | ) | (0.33 | ) | 10.01 | 5.87 | % | 86,767 | 0.27 | % | 0.27 | % | 2.11 | % | 58.47 | %(e) | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 9.89 | 0.19 | (0.07 | ) | 0.12 | (0.22 | ) | (0.01 | ) | (0.23 | ) | 9.78 | 1.16 | % | 96,952 | 0.27 | % | 0.27 | % | 1.90 | % | 89.60 | %(e) | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.22 | 0.24 | 0.46 | (0.25 | ) | (0.05 | ) | (0.30 | ) | 9.89 | 4.78 | % | 99,718 | 0.25 | % | 0.25 | % | 2.22 | % | 75.17 | %(e) | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.49 | $ | 0.17 | $ | (0.03 | ) | $ | 0.14 | $ | (0.14 | ) | $ | — | $ | (0.14 | ) | $ | 9.49 | 1.47 | % | $ | 389 | 0.57 | % | 0.33 | % | 2.72 | % | 22.30 | %(e) | |||||||||||||||||||||||||
Year Ended June 30, 2018 | 9.79 | 0.23 | (0.30 | ) | (0.07 | ) | (0.23 | ) | — | (0.23 | ) | 9.49 | (0.75 | )% | 1,362 | 0.58 | % | 0.33 | % | 2.25 | % | 43.79 | %(e) | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.01 | 0.20 | (0.20 | ) | — | (0.22 | ) | — | (0.22 | ) | 9.79 | (0.03 | )% | 2,942 | 0.58 | % | 0.33 | % | 1.97 | % | 45.74 | %(e) | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 9.77 | 0.21 | 0.36 | 0.57 | (0.24 | ) | (0.09 | ) | (0.33 | ) | 10.01 | 5.98 | % | 2,625 | 0.52 | % | 0.27 | % | 2.11 | % | 58.47 | %(e) | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 9.88 | 0.19 | (0.07 | ) | 0.12 | (0.22 | ) | (0.01 | ) | (0.23 | ) | 9.77 | 1.16 | % | 2,796 | 0.52 | % | 0.27 | % | 1.90 | % | 89.60 | %(e) | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.73 | 0.21 | 0.24 | 0.45 | (0.25 | ) | (0.05 | ) | (0.30 | ) | 9.88 | 4.68 | % | 2,730 | 0.50 | % | 0.25 | % | 2.22 | % | 75.17 | %(e) | ||||||||||||||||||||||||||||||||||
The Fixed Income Opportunity Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 6.85 | $ | 0.20 | (d) | $ | (0.23 | ) | $ | (0.03 | ) | $ | (0.22 | ) | $ | — | $ | (0.22 | ) | $ | 6.60 | (0.52 | )% | $ | 612,352 | 0.47 | % | 0.47 | % | 5.78 | % | 21.78 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 6.95 | 0.38 | (0.10 | ) | 0.28 | (0.38 | ) | — | (0.38 | ) | 6.85 | 4.06 | % | 673,271 | 0.44 | % | 0.44 | % | 5.46 | % | 37.57 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 6.62 | 0.39 | 0.33 | 0.72 | (0.39 | ) | — | (0.39 | ) | 6.95 | 11.07 | % | 673,681 | 0.43 | % | 0.43 | % | 5.53 | % | 41.48 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 7.08 | 0.37 | (0.43 | ) | (0.06 | ) | (0.38 | ) | (0.02 | ) | (0.40 | ) | 6.62 | (0.61 | )% | 784,435 | 0.39 | % | 0.39 | % | 5.57 | % | 66.76 | %(e) | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 7.65 | 0.38 | (0.39 | ) | (0.01 | ) | (0.39 | ) | (0.17 | ) | (0.56 | ) | 7.08 | 0.06 | % | 810,466 | 0.32 | % | 0.32 | % | 5.27 | % | 55.80 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 7.41 | 0.43 | 0.37 | 0.80 | (0.43 | ) | (0.13 | ) | (0.56 | ) | 7.65 | 11.23 | % | 804,070 | 0.30 | % | 0.30 | % | 5.52 | % | 82.94 | % | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 6.85 | $ | 0.20 | (d) | $ | (0.23 | ) | $ | (0.03 | ) | $ | (0.22 | ) | $ | — | $ | (0.22 | ) | $ | 6.60 | (0.52 | )% | $ | 97 | 0.72 | % | 0.47 | % | 5.85 | % | 21.78 | % | |||||||||||||||||||||||
Year Ended June 30, 2018 | 6.95 | 0.42 | (0.14 | ) | 0.28 | (0.38 | ) | — | (0.38 | ) | 6.85 | 4.06 | % | 362 | 0.69 | % | 0.44 | % | 5.43 | % | 37.57 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 6.62 | 0.38 | 0.34 | 0.72 | (0.39 | ) | — | (0.39 | ) | 6.95 | 11.08 | % | 789 | 0.68 | % | 0.43 | % | 5.54 | % | 41.48 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 7.08 | 0.38 | (0.44 | ) | (0.06 | ) | (0.38 | ) | (0.02 | ) | (0.40 | ) | 6.62 | (0.60 | )% | 1,012 | 0.64 | % | 0.39 | % | 5.58 | % | 66.76 | %(e) | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 7.65 | 0.38 | (0.39 | ) | (0.01 | ) | (0.39 | ) | (0.17 | ) | (0.56 | ) | 7.08 | 0.07 | % | 1,094 | 0.57 | % | 0.32 | % | 5.27 | % | 55.80 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 7.40 | 0.41 | 0.40 | 0.81 | (0.43 | ) | (0.13 | ) | (0.56 | ) | 7.65 | 11.39 | % | 1,050 | 0.55 | % | 0.30 | % | 5.52 | % | 82.94 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Per share amounts are based on average shares outstanding. |
(e) | Portfolio turnover does not include TBA security transactions. |
See accompanying notes to financial statements.
220
Table of Contents
HC CAPITAL TRUST
Financial Highlights (continued)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Tax Return of Capital | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | ||||||||||||||||||||||||||||||||||||||||||||||
The U.S. Government Fixed Income Securities Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.59 | $ | 0.10 | $ | 0.08 | $ | 0.18 | $ | (0.11 | ) | $ | — | $ | — | $ | (0.11 | ) | $ | 9.66 |
| 1.85 | % | $ | 278,809 | 0.20 | % | 0.20 | % | 2.14 | % | 17.01 | % | |||||||||||||||||||||||||||
Year Ended June 30, 2018 | 9.84 | 0.17 | (0.25 | ) | (0.08 | ) | (0.17 | ) | — | — | (0.17 | ) | 9.59 | (0.79 | )% | 233,377 | 0.19 | % | 0.19 | % | 1.81 | % | 32.58 | % | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.30 | 0.15 | (0.36 | ) | (0.21 | ) | (0.15 | ) | (0.10 | ) | — | (0.25 | ) | 9.84 | (2.03 | )% | 215,595 | 0.19 | % | 0.19 | % | 1.47 | % | 46.76 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.02 | 0.14 | 0.38 | 0.52 | (0.14 | ) | (0.10 | ) | — | (0.24 | ) | 10.30 | 5.26 | % | 241,795 | 0.17 | % | 0.17 | % | 1.38 | % | 50.10 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 9.94 | 0.12 | 0.08 | 0.20 | (0.12 | ) | — | — | (0.12 | ) | 10.02 | 2.03 | % | 262,998 | 0.17 | % | 0.17 | % | 1.21 | % | 99.54 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.91 | 0.12 | 0.07 | 0.19 | (0.13 | ) | (0.03 | ) | — | (0.16 | ) | 9.94 | 1.91 | % | 246,914 | 0.18 | % | 0.18 | % | 1.29 | % | 62.52 | % | |||||||||||||||||||||||||||||||||||||
The Inflation Protected Securities Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.98 | $ | 0.11 | $ | (0.24 | ) | $ | (0.13 | ) | $ | (0.18 | ) | $ | — | $ | — | $ | (0.18 | ) | $ | 9.67 |
| (1.28 | )% | $ | 372,408 | 0.17 | % | 0.17 | % | 2.21 | % | 9.81 | % | |||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.03 | 0.26 | (0.08 | ) | 0.18 | (0.23 | ) | — | — | (0.23 | ) | 9.98 | 1.83 | % | 401,456 | 0.16 | % | 0.16 | % | 2.66 | % | 20.77 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.40 | 0.27 | (0.35 | ) | (0.08 | ) | (0.29 | ) | — | — | (0.29 | ) | 10.03 | (0.81 | )% | 361,996 | 0.15 | % | 0.15 | % | 2.31 | % | 21.69 | % | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.02 | 0.11 | 0.29 | 0.40 | (0.02 | ) | — | — | (0.02 | ) | 10.40 | 3.99 | % | 493,152 | 0.15 | % | 0.15 | % | 1.11 | % | 20.88 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.25 | (0.03 | ) | (0.14 | ) | (0.17 | ) | (0.03 | ) | (0.01 | ) | (0.02 | ) | (0.06 | ) | 10.02 | (1.72 | )% | 510,176 | 0.18 | % | 0.18 | % | (0.25 | )% | 27.12 | % | |||||||||||||||||||||||||||||||||
Period Ended June 30, 2014(d) | 10.00 | 0.11 | 0.24 | 0.35 | (0.10 | ) | — | — | (0.10 | ) | 10.25 | 3.50 | % | 526,458 | 0.15 | % | 0.15 | % | 4.55 | % | 18.56 | % | ||||||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.98 | $ | 0.11 | $ | (0.24 | ) | $ | (0.13 | ) | $ | (0.18 | ) | $ | — | $ | — | $ | (0.18 | ) | $ | 9.67 |
| (1.28 | )% | $ | 1 | 0.42 | % | 0.17 | % | 2.21 | % | 9.81 | % | |||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.02 | 0.27 | (0.08 | ) | 0.19 | (0.23 | ) | — | — | (0.23 | ) | 9.98 | 1.93 | % | 1 | 0.41 | % | 0.16 | % | 2.70 | % | 20.77 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.39 | 0.23 | (0.31 | ) | (0.08 | ) | (0.29 | ) | — | — | (0.29 | ) | 10.02 | (0.81 | )% | 1 | 0.40 | % | 0.15 | % | 2.28 | % | 21.69 | % | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.01 | 0.11 | 0.29 | 0.40 | (0.02 | ) | — | — | (0.02 | ) | 10.39 | 4.00 | % | 1 | 0.40 | % | 0.15 | % | 1.09 | % | 20.88 | % | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.26 | (0.04 | ) | (0.15 | ) | (0.19 | ) | (0.05 | ) | (0.01 | ) | — | (0.06 | ) | 10.01 | (1.91 | )% | 1 | 0.43 | % | 0.18 | % | (0.25 | )% | 27.12 | % | ||||||||||||||||||||||||||||||||||
Period Ended June 30, 2014(d) | 10.00 | 0.12 | 0.24 | 0.36 | (0.10 | ) | — | — | (0.10 | ) | 10.26 | 3.60 | % | 1 | 0.40 | % | 0.15 | % | 4.58 | % | 18.56 | % | ||||||||||||||||||||||||||||||||||||||
The U.S. Corporate Fixed Income Securities Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.59 | $ | 0.17 | $ | (0.06 | ) | $ | 0.11 | $ | (0.18 | ) | $ | — | $ | — | $ | (0.18 | ) | $ | 9.52 |
| 1.12 | % | $ | 283,197 | 0.21 | % | 0.21 | % | 3.49 | % | 12.25 | % | ||||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.03 | 0.29 | (0.41 | ) | (0.12 | ) | (0.29 | ) | (0.03 | ) | — | (0.32 | ) | 9.59 | (1.21 | )% | 286,956 | 0.20 | % | 0.20 | % | 3.00 | % | 44.69 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.16 | 0.26 | (0.10 | ) | 0.16 | (0.26 | ) | (0.03 | ) | — | (0.29 | ) | 10.03 | 1.62 | % | 254,908 | 0.19 | % | 0.19 | % | 2.59 | % | 40.47 | % | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 9.88 | 0.27 | 0.48 | 0.75 | (0.27 | ) | (0.20 | ) | — | (0.47 | ) | 10.16 | 7.92 | % | 289,331 | 0.19 | % | 0.19 | % | 2.84 | % | 64.20 | % | |||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.24 | 0.27 | (0.27 | ) | — | (0.27 | ) | (0.09 | ) | — | (0.36 | ) | 9.88 | (0.01 | )% | 223,329 | 0.28 | % | 0.28 | % | 2.60 | % | 158.19 | % | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.97 | 0.31 | 0.44 | 0.75 | (0.32 | ) | (0.16 | ) | — | (0.48 | ) | 10.24 | 7.76 | % | 257,604 | 0.33 | % | 0.33 | % | 3.16 | % | 130.81 | % | |||||||||||||||||||||||||||||||||||||
The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.32 | $ | 0.12 | $ | 0.05 | $ | 0.17 | $ | (0.14 | ) | $ | — | $ | — | $ | (0.14 | ) | $ | 9.35 |
| 1.89 | % | $ | 202,566 | 0.22 | % | 0.22 | % | 2.56 | % | 7.62 | %(e) | |||||||||||||||||||||||||||
Year Ended June 30, 2018 | 9.59 | 0.21 | (0.23 | ) | (0.02 | ) | (0.25 | ) | — | — | (0.25 | ) | 9.32 | (0.20 | )% | 205,138 | 0.23 | % | 0.23 | % | 2.24 | % | 17.13 | %(e) | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.88 | 0.18 | (0.22 | ) | (0.04 | ) | (0.25 | ) | — | — | (0.25 | ) | 9.59 | (0.38 | )% | 183,834 | 0.22 | % | 0.22 | % | 1.86 | % | 17.58 | %(e) | ||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 9.81 | 0.21 | 0.14 | 0.35 | (0.28 | ) | — | — | (0.28 | ) | 9.88 | 3.67 | % | 208,969 | 0.19 | % | 0.19 | % | 2.12 | % | 15.24 | %(e) | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 9.87 | 0.19 | — | 0.19 | (0.25 | ) | — | — | (0.25 | ) | 9.81 | 1.97 | % | 252,028 | 0.17 | % | 0.17 | % | 1.91 | % | 29.92 | %(e) | ||||||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.78 | 0.21 | 0.18 | 0.39 | (0.30 | ) | — | — | (0.30 | ) | 9.87 | 4.04 | % | 250,632 | 0.17 | % | 0.17 | % | 2.12 | % | 26.46 | %(e) |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | For the period April 3, 2014 (commencement of operations) through June 30, 2014. |
(e) | Portfolio turnover does not include TBA securities transactions. |
See accompanying notes to financial statements.
221
Table of Contents
HC CAPITAL TRUST
Financial Highlights (concluded)
Selected data for a share outstanding throughout the periods indicated.
Change in Net Assets Resulting from Operations: | Distributions to Shareholders: | Ratios/Supplementary Data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period | Net Investment Income/(Loss) | Net Realized/ Unrealized Gains/ (Losses) on Investments | Total from Operations | Net Investment Income | Net Realized Gains from Investments | Total Distributions to Shareholders | Net Asset Value, End of Period | Total Return(a) | Net Assets, at End of Period (in thousands) | Ratio of Expenses to Average Net Assets, Prior to Expenses Paid Indirectly and Waivers(b) | Ratio of Expenses to Average Net Assets, Net of Expenses Paid Indirectly and Waivers(b) | Ratio of Net Investment Income/(Loss) to Average Net Assets(b) | Portfolio Turnover Rate(a)(c) | |||||||||||||||||||||||||||||||||||||||||||
The Short-Term Municipal Bond Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.80 | $ | 0.07 | $ | 0.02 | $ | 0.09 | $ | (0.08 | ) | $ | — | $ | (0.08 | ) | $ | 9.81 |
| 0.88 | % | $ | 93,127 | 0.29 | % | 0.29 | % | 1.52 | % | 6.15 | % | |||||||||||||||||||||||||
Year Ended June 30, 2018 | 9.87 | 0.11 | (0.08 | ) | 0.03 | (0.10 | ) | — | (0.10 | ) | 9.80 | 0.34 | % | 79,612 | 0.33 | % | 0.33 | % | 1.23 | % | 18.84 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 9.96 | 0.10 | (0.09 | ) | 0.01 | (0.10 | ) | — | (0.10 | ) | 9.87 | 0.12 | % | 17,788 | 0.35 | % | 0.35 | % | 1.05 | % | 25.02 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 9.94 | 0.12 | 0.02 | 0.14 | (0.12 | ) | — | (d) | (0.12 | ) | 9.96 | 1.37 | % | 18,665 | 0.31 | % | 0.31 | % | 1.13 | % | 38.47 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.04 | 0.12 | (0.10 | ) | 0.02 | (0.12 | ) | — | (0.12 | ) | 9.94 | 0.19 | % | 20,933 | 0.31 | % | 0.31 | % | 1.18 | % | 26.24 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 10.05 | 0.12 | 0.01 | 0.13 | (0.12 | ) | (0.02 | ) | (0.14 | ) | 10.04 | 1.26 | % | 21,703 | 0.29 | % | 0.29 | % | 1.16 | % | 25.15 | % | ||||||||||||||||||||||||||||||||||
The Intermediate Term Municipal Bond Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.90 | $ | 0.11 | $ | (0.03 | ) | $ | 0.08 | $ | (0.12 | ) | $ | — | $ | (0.12 | ) | $ | 9.86 | 0.78 | % | $ | 383,878 | 0.31 | % | 0.31 | % | 2.21 | % | 17.63 | % | |||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.08 | 0.19 | (0.18 | ) | 0.01 | (0.19 | ) | — | (0.19 | ) | 9.90 | 0.13 | % | 383,200 | 0.29 | % | 0.29 | % | 1.94 | % | 26.27 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.25 | 0.20 | (0.17 | ) | 0.03 | (0.20 | ) | — | (0.20 | ) | 10.08 | 0.28 | % | 385,133 | 0.28 | % | 0.28 | % | 1.94 | % | 19.75 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.06 | 0.21 | 0.19 | 0.40 | (0.21 | ) | — | (0.21 | ) | 10.25 | 4.05 | % | 406,302 | 0.26 | % | 0.26 | % | 2.08 | % | 30.35 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.11 | 0.21 | (0.05 | ) | 0.16 | (0.21 | ) | — | (0.21 | ) | 10.06 | 1.54 | % | 420,423 | 0.24 | % | 0.24 | % | 2.03 | % | 25.67 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | (0.25 | ) | 10.11 | 4.10 | % | 423,257 | 0.29 | % | 0.29 | % | 2.49 | % | 34.05 | % | |||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 9.90 | $ | 0.13 | $ | (0.04 | ) | $ | 0.09 | $ | (0.12 | ) | $ | — | $ | (0.12 | ) | $ | 9.87 |
| 0.88 | % | $ | 470 | 0.56 | % | 0.31 | % | 2.20 | % | 17.63 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.08 | 0.20 | (0.19 | ) | 0.01 | (0.19 | ) | — | (0.19 | ) | 9.90 | 0.14 | % | 1,008 | 0.54 | % | 0.29 | % | 1.94 | % | 26.27 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.25 | 0.20 | (0.17 | ) | 0.03 | (0.20 | ) | — | (0.20 | ) | 10.08 | 0.28 | % | 1,437 | 0.53 | % | 0.28 | % | 1.94 | % | 19.75 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.06 | 0.21 | 0.19 | 0.40 | (0.21 | ) | — | (0.21 | ) | 10.25 | 4.05 | % | 1,400 | 0.51 | % | 0.26 | % | 2.08 | % | 30.35 | % | |||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.11 | 0.21 | (0.05 | ) | 0.16 | (0.21 | ) | — | (0.21 | ) | 10.06 | 1.54 | % | 1,985 | 0.49 | % | 0.24 | % | 2.03 | % | 25.67 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 9.96 | 0.25 | 0.15 | 0.40 | (0.25 | ) | — | (0.25 | ) | 10.11 | 4.10 | % | 2,490 | 0.54 | % | 0.29 | % | 2.48 | % | 34.05 | % | |||||||||||||||||||||||||||||||||||
The Intermediate Term Municipal Bond II Portfolio |
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HC Strategic Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.09 | $ | 0.11 | $ | 0.04 | $ | 0.15 | $ | (0.11 | ) | $ | (0.02 | ) | $ | (0.13 | ) | $ | 10.11 |
| 1.49 | % | $ | 77,914 | 0.30 | % | 0.30 | % | 2.18 | % | 7.19 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.30 | 0.22 | (0.21 | ) | 0.01 | (0.22 | ) | — | (d) | (0.22 | ) | 10.09 | 0.07 | % | 77,455 | 0.27 | % | 0.27 | % | 2.14 | % | 21.56 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.58 | 0.22 | (0.27 | ) | (0.05 | ) | (0.22 | ) | (0.01 | ) | (0.23 | ) | 10.30 | (0.41 | )% | 74,163 | 0.27 | % | 0.27 | % | 2.13 | % | 15.48 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.31 | 0.21 | 0.27 | 0.48 | (0.21 | ) | — | (d) | (0.21 | ) | 10.58 | 4.77 | % | 75,147 | 0.25 | % | 0.25 | % | 2.03 | % | 11.22 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.41 | 0.19 | (0.06 | ) | 0.13 | (0.19 | ) | (0.04 | ) | (0.23 | ) | 10.31 | 1.31 | % | 77,102 | 0.25 | % | 0.25 | % | 1.85 | % | 21.51 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 10.28 | 0.22 | 0.16 | 0.38 | (0.22 | ) | (0.03 | ) | (0.25 | ) | 10.41 | 3.76 | % | 77,702 | 0.25 | % | 0.25 | % | 2.12 | % | 17.84 | % | ||||||||||||||||||||||||||||||||||
HC Advisors Shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months ended December 31, 2018 (Unaudited) | $ | 10.09 | $ | 0.13 | $ | 0.03 | $ | 0.16 | $ | (0.11 | ) | $ | (0.02 | ) | $ | (0.13 | ) | $ | 10.12 |
| 1.59 | % | $ | 122 | 0.55 | % | 0.30 | % | 2.18 | % | 7.19 | % | ||||||||||||||||||||||||
Year Ended June 30, 2018 | 10.30 | 0.22 | (0.21 | ) | 0.01 | (0.22 | ) | — | (d) | (0.22 | ) | 10.09 | 0.07 | % | 260 | 0.52 | % | 0.27 | % | 2.13 | % | 21.56 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2017 | 10.59 | 0.22 | (0.28 | ) | (0.06 | ) | (0.22 | ) | (0.01 | ) | (0.23 | ) | 10.30 | (0.50 | )% | 372 | 0.52 | % | 0.27 | % | 2.13 | % | 15.48 | % | ||||||||||||||||||||||||||||||||
Year Ended June 30, 2016 | 10.31 | 0.21 | 0.28 | 0.49 | (0.21 | ) | — | (d) | (0.21 | ) | 10.59 | 4.87 | % | 408 | 0.50 | % | 0.25 | % | 2.02 | % | 11.22 | % | ||||||||||||||||||||||||||||||||||
Year Ended June 30, 2015 | 10.41 | 0.19 | (0.06 | ) | 0.13 | (0.19 | ) | (0.04 | ) | (0.23 | ) | 10.31 | 1.31 | % | 575 | 0.50 | % | 0.25 | % | 1.85 | % | 21.51 | % | |||||||||||||||||||||||||||||||||
Year Ended June 30, 2014 | 10.29 | 0.22 | 0.15 | 0.37 | (0.22 | ) | (0.03 | ) | (0.25 | ) | 10.41 | 3.66 | % | 724 | 0.50 | % | 0.25 | % | 2.11 | % | 17.84 | % |
(a) | Not annualized for periods less than one year. |
(b) | Annualized for periods less than one year. |
(c) | Portfolio turnover is calculated on the basis of the Portfolio, as a whole, without distinguishing between the classes of shares issued. |
(d) | Amount rounds to less than $0.005 per share. |
See accompanying notes to financial statements.
222
Table of Contents
HC CAPITAL TRUST
Notes to Financial Statements — December 31, 2018 (Unaudited)
1. DESCRIPTION. HC Capital Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as anopen-end management series investment company. The Trust is a Delaware statutory trust which was organized on December 15, 1994. As of December 31, 2018, the Trust offeredtwenty-two separate investment portfolios: The Value Equity Portfolio (“Value Portfolio”), The Institutional Value Equity Portfolio (“Institutional Value Portfolio”), The Growth Equity Portfolio (“Growth Portfolio”), The Institutional Growth Equity Portfolio (“Institutional Growth Portfolio”), The SmallCapitalization-Mid Capitalization Equity Portfolio (“Small Cap–Mid Cap Portfolio”), The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio (“Institutional Small Cap–Mid Cap Portfolio”), The Real Estate Securities Portfolio (“Real Estate Portfolio”), The Commodity Returns Strategy Portfolio (“Commodity Portfolio”), The ESG Growth Portfolio (“ESG Growth Portfolio”), The Catholic SRI Growth Portfolio (“Catholic SRI Growth Portfolio”), The International Equity Portfolio (“International Portfolio”), The Institutional International Equity Portfolio (“Institutional International Portfolio”), The Emerging Markets Portfolio (“Emerging Markets Portfolio”), The Core Fixed Income Portfolio (“Core Fixed Income Portfolio”), The Fixed Income Opportunity Portfolio (“Fixed Opportunity Portfolio”), The U.S. Government Fixed Income Securities Portfolio (“U.S. Government Fixed Income Portfolio”), The Inflation Protected Securities Portfolio (“Inflation Protected Portfolio”), The U.S. Corporate Fixed Income Securities Portfolio (“U.S. Corporate Fixed Income Portfolio”), The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio (“U.S. Mortgage/Asset Backed Fixed Income Portfolio”), The Short-Term Municipal Bond Portfolio (“Short-Term Municipal Portfolio”), The Intermediate Term Municipal Bond Portfolio (“Intermediate Municipal Portfolio”), and The Intermediate Term Municipal Bond II Portfolio (“Intermediate Municipal II Portfolio) (each a “Portfolio” and collectively the “Portfolios”).
Each Portfolio is authorized to issue an unlimited number of shares of beneficial interest with a par value of $0.001 each in two classes of shares: HC Advisors Shares and HC Strategic Shares. As of December 31, 2018, the HC Advisors Shares for U.S. Government Fixed Income Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio, and Short-Term Municipal Portfolio had not yet commenced operations and the HC Advisors Shares were not currently active for the Real Estate Portfolio. Each class of shares for each of the Portfolios has identical rights and privileges except with respect to voting rights on matters affecting a single class of shares. The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co., LLC.
As of December 31, 2018, all the Portfolios in the Trust, except the Real Estate Portfolio and the Catholic SRI Growth Portfolio were diversified Portfolios under the 1940 Act. The Real Estate Portfolio and the Catholic SRI Growth Portfolio were classified asnon-diversified Portfolios, which means that they may concentrate their investments in the securities of a limited number of issuers. The Catholic SRI Growth Portfolio, however, operated with a diversified investment portfolio.
As is customary, the Trust’s organizational documents permit the Trust to indemnify its officers and trustees against certain liabilities under certain circumstances. In addition, in the normal course of business, the Trust enters into contracts with its vendors and others that also permit the indemnification of parties to the contract under certain circumstances. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust.
2. SIGNIFICANT ACCOUNTING POLICIES. The following is a summary of the significant accounting policies followed by the Portfolios in the preparation of their financial statements. The Portfolios are investment companies and follow accounting and reporting guidance under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, “Financial Services – Investment Companies.” The policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The presentation of the Portfolios’ financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.
A. Portfolio Valuation. The net asset value (“NAV”) per share of each Portfolio is determined at the close of regular trading on the New York Stock Exchange (“NYSE”), normally at 4:00 p.m. Eastern time, on days the NYSE is open. Each class’s NAV per share is calculated by adding the market value or fair value, as applicable, of all securities and other assets of the Portfolio, subtracting its liabilities and dividing the result by the number of its outstanding shares.
B. Securities Valuation. Security values are ordinarily obtained through the use of independent pricing services in accordance with procedures adopted by the Trust’s Board of Trustees (the “Board”). Pursuant to such procedures, the Portfolios may use a pricing service, bank, or broker-dealer experienced in such matters to value the Portfolio’s securities.
223
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
When reliable market quotations are not readily available for any security, the fair value of that security will be determined by a committee established by the Board in accordance with procedures adopted by the Board. The fair valuation process is designed to value the subject security at the price the Portfolio would reasonably expect to receive upon its current sale. Additional consideration is given to securities that have experienced a decrease in the volume or level of activity or to circumstances that indicate that a transaction is not orderly.
For disclosure purposes, the Trust has a three-tier fair value hierarchy that is dependent upon the observability of various “inputs” used to determine the value of the Portfolios’ investments. These inputs are summarized in the three broad levels listed below:
• | Level 1 — quoted prices in active markets for identical assets |
• | Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 — significant unobservable inputs (including a Portfolio’s own assumptions in determining the fair value of investments) |
Changes in valuation techniques may result in transfer in and out of an assigned level within the fair value hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.
Equity Securities (Common and Preferred Stock and Exchange-Traded Funds): Readily marketable portfolio securities listed on a securities exchange, including Nasdaq, are valued at the closing price on the exchange or at the Nasdaq Official Closing Price. If there have been no sales on such exchange, the securities are valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Readily marketable securities traded only in theover-the-counter market are valued at the closing price and are typically categorized as Level 1 in the fair value hierarchy, or, if there have been no sales, are valued at the mean of the last reported bid and asked prices and are typically categorized as Level 2 in the fair value hierarchy.
Securities listed on a foreign exchange are valued at the closing price on that exchange provided that where the prices of such securities are denominated in foreign currencies, such prices are converted into U.S. dollars at the bid price of such currencies against U.S. dollars at the time of the NAV calculation. If there have been no sales on such exchange, the security is valued at the closing bid price. In each of these situations, valuations are typically categorized as Level 1 in the fair value hierarchy. Fair value pricing may be used if events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the NAV is calculated. Such securities may be valued at fair value in accordance with procedures adopted by the Board. Management identifies possible fluctuations in international securities by monitoring the increase or decrease in the value of a designated benchmark index. In the event of an increase or decrease greater than predetermined levels, a Portfolio may use a systematic valuation model provided by an independent third party to fair value its international securities. Such systematic valuations are typically categorized as Level 2 in the fair value hierarchy.
Mutual Funds: Mutual funds are valued at their respective daily net asset value and are typically categorized as Level 1 in the fair value hierarchy.
Fixed Income Securities (Corporate, Municipal and Foreign Bonds, U.S. Government and Agency Securities and Inflation Indexed Bonds): Fixed income securities are valued using various inputs including benchmark yields, reported trades, broker/dealer quotes, issuer spreads,two-sided markets, benchmark securities, bids, offers, reference data, and industry and market events, and are typically categorized as Level 2 in the fair value hierarchy.
Asset-Backed and Mortgage-Backed Securities: In addition to the inputs discussed above for fixed-income securities, asset-backed and mortgage-backed securities are valued using new issue data, monthly payment information and collateral performance, and are typically categorized as Level 2 in the fair value hierarchy.
Short-Term Obligations: Short-term obligations with maturities of 60 days or less may also be valued at amortized cost, which constitutes fair value as determined by the Board. Such securities are typically categorized as Level 2 in the fair value hierarchy.
224
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Derivative Instruments (Futures, Options, Swaptions, Swaps and Forward Currency Contracts): Swaps and swaptions are valued using interdealer broker rates, benchmark yields, and swap details and are typically categorized as Level 2 in the fair value hierarchy. Exchange traded futures, swaps and options are valued using quoted prices from the exchange and are typically categorized as Level 1 in the fair value hierarchy. Forward currency contracts are valued using market quotes posted by major currency dealers and are typically categorized as Level 2 in the fair value hierarchy.
The following is a summary of the inputs used to value the following Portfolios’ securities as of December 31, 2018 (amounts in thousands). The breakdown of investment categorization is disclosed in the Schedule of Portfolio Investments for each Portfolio.
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Value Portfolio |
| |||||||||||||||
Common Stocks | $ | 502,573 | $ | 111 | $ | — | $ | 502,684 | ||||||||
Investment Companies | 9,966 | — | — | 9,966 | ||||||||||||
Repurchase Agreement | — | 1 | — | 1 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 512,539 | $ | 112 | $ | — | $ | 512,651 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | 318 | $ | — | $ | — | $ | 318 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 512,857 | $ | 112 | $ | — | $ | 512,969 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Institutional Value Portfolio |
| |||||||||||||||
Common Stocks | $ | 810,978 | $ | 660 | $ | — | $ | 811,638 | ||||||||
U.S. Treasury Obligation | — | 144 | — | 144 | ||||||||||||
Exchange-Traded Fund | 965 | — | — | 965 | ||||||||||||
Investment Companies | 104,189 | — | — | 104,189 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 916,132 | $ | 804 | $ | — | $ | 916,936 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | 4,736 | $ | — | $ | — | $ | 4,736 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 920,868 | $ | 804 | $ | — | $ | 921,672 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Growth Portfolio |
| |||||||||||||||
Common Stocks | $ | 680,614 | $ | 159 | $ | — | $ | 680,773 | ||||||||
Investment Company | 21,143 | — | — | 21,143 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 701,757 | $ | 159 | $ | — | $ | 701,916 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | 153 | $ | — | $ | — | $ | 153 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 701,910 | $ | 159 | $ | — | $ | 702,069 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Institutional Growth Portfolio |
| |||||||||||||||
Common Stocks | $ | 1,042,569 | $ | 97 | $ | — | $ | 1,042,666 | ||||||||
U.S. Treasury Obligation | — | 60 | — | 60 | ||||||||||||
Exchange-Traded Fund | 441 | — | — | 441 | ||||||||||||
Investment Company | 108,924 | — | — | 108,924 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 1,151,934 | $ | 157 | $ | — | $ | 1,152,091 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | 4,578 | $ | — | $ | — | $ | 4,578 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 1,156,512 | $ | 157 | $ | — | $ | 1,156,669 | ||||||||
|
|
|
|
|
|
|
|
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Small Cap–Mid Cap Portfolio |
| |||||||||||||||
Common Stocks | $ | 77,172 | $ | — | $ | — | $ | 77,172 | ||||||||
Contingent Rights | — | — | — | — | ||||||||||||
Investment Companies | 5,977 | — | — | 5,977 | ||||||||||||
Repurchase Agreement | — | 593 | — | 593 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 83,149 | $ | 593 | $ | — | $ | 83,742 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (117 | ) | $ | — | $ | — | $ | (117 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 83,032 | $ | 593 | $ | — | $ | 83,625 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Institutional Small Cap–Mid Cap Portfolio |
| |||||||||||||||
Common Stocks | $ | 124,905 | $ | 3 | $ | — | $ | 124,908 | ||||||||
Contingent Right | — | — | — | — | ||||||||||||
U.S. Treasury Obligation | — | 25 | — | 25 | ||||||||||||
Investment Companies | 10,180 | — | — | 10,180 | ||||||||||||
Repurchase Agreement | — | 823 | — | 823 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 135,085 | $ | 851 | $ | — | $ | 135,936 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (113 | ) | $ | — | $ | — | $ | (113 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 134,972 | $ | 851 | $ | — | $ | 135,823 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Real Estate Portfolio |
| |||||||||||||||
Common Stocks | $ | 104,423 | $ | — | $ | — | $ | 104,423 | ||||||||
Investment Companies | 15,382 | — | — | 15,382 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 119,805 | $ | — | $ | — | $ | 119,805 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (224 | ) | $ | — | $ | — | $ | (224 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 119,581 | $ | — | $ | — | $ | 119,581 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Commodity Portfolio |
| |||||||||||||||
Common Stocks | $ | 92,495 | $ | 157,576 | $ | — | $ | 250,071 | ||||||||
Preferred Stocks | 2,613 | 624 | — | 3,237 | ||||||||||||
Rights | — | 51 | — | 51 | ||||||||||||
Warrant | — | — | — | — | ||||||||||||
U.S. Treasury Obligation | — | 60 | — | 60 | ||||||||||||
Investment Companies | 136,388 | — | — | 136,388 | ||||||||||||
Purchased Options | — | — | — | — | ||||||||||||
Repurchase Agreements | — | 5,318 | — | 5,318 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 231,496 | $ | 163,629 | $ | — | $ | 395,125 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (889 | ) | $ | — | $ | — | $ | (889 | ) | ||||||
Forward Currency Contracts | — | (74 | ) | — | (74 | ) | ||||||||||
Option Contracts | — | — | — | — | ||||||||||||
Total Return Swap Agreements | — | 4 | — | 4 | ||||||||||||
Commodity Forward Swap Agreements | — | 4 | — | 4 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 230,607 | $ | 163,563 | $ | — | $ | 394,170 | ||||||||
|
|
|
|
|
|
|
|
226
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
ESG Growth Portfolio |
| |||||||||||||||
Common Stocks | $ | 78,054 | $ | 50,855 | $ | — | $ | 128,909 | ||||||||
Right | — | 9 | — | 9 | ||||||||||||
Investment Company | 1,864 | — | — | 1,864 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 79,918 | $ | 50,864 | $ | — | $ | 130,782 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (16 | ) | $ | — | $ | — | $ | (16 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 79,902 | $ | 50,864 | $ | — | $ | 130,766 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Catholic SRI Growth Portfolio |
| |||||||||||||||
Common Stocks | $ | 24,726 | $ | 16,286 | $ | — | $ | 41,012 | ||||||||
Right | — | 2 | — | 2 | ||||||||||||
Investment Company | 236 | — | — | 236 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 24,962 | $ | 16,288 | $ | — | $ | 41,250 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Forward Currency Contracts | $ | — | $ | 1 | $ | — | $ | 1 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 24,962 | $ | 16,289 | $ | — | $ | 41,251 | ||||||||
|
|
|
|
|
|
|
| |||||||||
International Portfolio |
| |||||||||||||||
Common Stocks | $ | 56,158 | $ | 874,771 | $ | — | $ | 930,929 | ||||||||
Preferred Stocks | 3,592 | 18,561 | — | 22,153 | ||||||||||||
Rights | — | 90 | — | 90 | ||||||||||||
Investment Companies | 5,586 | — | — | 5,586 | ||||||||||||
Repurchase Agreement | — | 4,459 | — | 4,459 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 65,336 | $ | 897,881 | $ | — | $ | 963,217 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (4 | ) | $ | — | $ | — | $ | (4 | ) | ||||||
Forward Currency Contracts | — | (28 | ) | — | (28 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 65,332 | $ | 897,853 | $ | — | $ | 963,185 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Institutional International Portfolio |
| |||||||||||||||
Common Stocks | $ | 63,754 | $ | 1,764,200 | $ | — | $ | 1,827,954 | ||||||||
Preferred Stocks | 4,495 | 22,786 | — | 27,281 | ||||||||||||
Rights | — | 160 | — | 160 | ||||||||||||
Investment Companies | 66,659 | 61,867 | — | 128,526 | ||||||||||||
Repurchase Agreement | — | 5,755 | — | 5,755 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 134,908 | $ | 1,854,768 | $ | — | $ | 1,989,676 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (732 | ) | $ | — | $ | — | $ | (732 | ) | ||||||
Forward Currency Contracts | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 134,176 | $ | 1,854,768 | $ | — | $ | 1,988,944 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Emerging Markets Portfolio |
| |||||||||||||||
Common Stocks | $ | 286,733 | $ | 1,131,692 | $ | — | $ | 1,418,425 | ||||||||
Preferred Stocks | 13,231 | 11,013 | — | 24,244 | ||||||||||||
Warrant | — | — | — | — | ||||||||||||
Exchange-Traded Fund | 20,342 | — | — | 20,342 |
227
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
Emerging Markets Portfolio (continued) | ||||||||||||||||
Investment Companies | $ | 15,684 | $ | — | $ | — | $ | 15,684 | ||||||||
Repurchase Agreement | — | 11,172 | — | 11,172 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 335,990 | $ | 1,153,877 | $ | — | $ | 1,489,867 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (3 | ) | $ | — | $ | — | $ | (3 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 335,987 | $ | 1,153,877 | $ | — | $ | 1,489,864 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Core Fixed Income Portfolio |
| |||||||||||||||
Asset Backed Securities | $ | — | $ | 310 | $ | — | $ | 310 | ||||||||
Collateralized Mortgage Obligations | — | 956 | — | 956 | ||||||||||||
U.S. Government Agency Mortgages | — | 14,419 | — | 14,419 | ||||||||||||
U.S. Government Agency Securities | — | 802 | — | 802 | ||||||||||||
Corporate Bonds | — | 21,360 | — | 21,360 | ||||||||||||
U.S. Treasury Obligations | — | 22,047 | — | 22,047 | ||||||||||||
Yankee Dollars | — | 3,735 | — | 3,735 | ||||||||||||
Investment Companies | 4,631 | — | — | 4,631 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 4,631 | $ | 63,629 | $ | — | $ | 68,260 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments2 | ||||||||||||||||
TBA Sale Commitments | $ | — | $ | (79 | ) | $ | — | $ | (79 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 4,631 | $ | 63,550 | $ | — | $ | 68,181 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Fixed Opportunity Portfolio |
| |||||||||||||||
Asset Backed Securities | $ | — | $ | 3,601 | $ | — | $ | 3,601 | ||||||||
Collateralized Mortgage Obligations | — | 108,111 | — | 108,111 | ||||||||||||
U.S. Government Agency Mortgages | — | 26,587 | — | 26,587 | ||||||||||||
Corporate Bonds | — | 324,385 | — | 324,385 | ||||||||||||
Yankee Dollars | — | 72,952 | — | 72,952 | ||||||||||||
Exchange-Traded Fund | 33,815 | — | — | 33,815 | ||||||||||||
Investment Companies | 47,854 | — | — | 47,854 | ||||||||||||
Purchased Swaptions | — | 999 | — | 999 | ||||||||||||
Repurchase Agreement | — | 26,379 | — | 26,379 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 81,669 | $ | 563,014 | $ | — | $ | 644,683 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments1 |
| |||||||||||||||
Futures | $ | (930 | ) | $ | — | $ | — | $ | (930 | ) | ||||||
Written Swaptions | — | (259 | ) | — | (259 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 80,739 | $ | 562,755 | $ | — | $ | 643,494 | ||||||||
|
|
|
|
|
|
|
| |||||||||
U.S. Government Fixed Income Portfolio |
| |||||||||||||||
U.S. Government Agency Securities | $ | — | $ | 9,172 | $ | — | $ | 9,172 | ||||||||
U.S. Treasury Obligations | — | 267,337 | — | 267,337 | ||||||||||||
Yankee Dollar | — | 129 | — | 129 | ||||||||||||
Investment Company | 546 | — | — | 546 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 546 | $ | 276,638 | $ | — | $ | 277,184 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Inflation Protected Portfolio |
| |||||||||||||||
U.S. Treasury Obligations | $ | — | $ | 366,680 | $ | — | $ | 366,680 | ||||||||
Investment Company | 5,435 | — | — | 5,435 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 5,435 | $ | 366,680 | $ | — | $ | 372,115 | ||||||||
|
|
|
|
|
|
|
|
228
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Portfolio | LEVEL 1 – Quoted Prices | LEVEL 2 – Other Significant Observable Inputs | LEVEL 3 – Significant Unobservable Inputs | Total | ||||||||||||
U.S. Corporate Fixed Income Portfolio |
| |||||||||||||||
Corporate Bonds | $ | — | $ | 230,610 | $ | — | $ | 230,610 | ||||||||
Yankee Dollars | — | 44,573 | — | 44,573 | ||||||||||||
Investment Companies | 5,114 | — | — | 5,114 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 5,114 | $ | 275,183 | $ | — | $ | 280,297 | ||||||||
|
|
|
|
|
|
|
| |||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio |
| |||||||||||||||
Asset Backed Securities | $ | — | $ | 3,434 | $ | — | $ | 3,434 | ||||||||
Collateralized Mortgage Obligations | — | 12,769 | — | 12,769 | ||||||||||||
U.S. Government Agency Mortgages | — | 186,020 | — | 186,020 | ||||||||||||
Yankee Dollars | — | 407 | — | 407 | ||||||||||||
Investment Company | 27,104 | — | — | 27,104 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 27,104 | $ | 202,630 | $ | — | $ | 229,734 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Other Financial Instruments2 | ||||||||||||||||
TBA Sale Commitments | $ | — | $ | (1,112 | ) | $ | — | $ | (1,112 | ) | ||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments | $ | 27,104 | $ | 201,518 | $ | — | $ | 228,622 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Short-Term Municipal Portfolio |
| |||||||||||||||
Municipal Bonds | $ | — | $ | 90,583 | $ | — | $ | 90,583 | ||||||||
Investment Company | 1,305 | — | — | 1,305 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 1,305 | $ | 90,583 | $ | — | $ | 91,888 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Intermediate Municipal Portfolio |
| |||||||||||||||
Municipal Bonds | $ | — | $ | 343,362 | $ | — | $ | 343,362 | ||||||||
Corporate Bond | — | — | — | — | ||||||||||||
Investment Companies | 36,927 | — | — | 36,927 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 36,927 | $ | 343,362 | $ | — | $ | 380,289 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Intermediate Municipal II Portfolio |
| |||||||||||||||
Municipal Bonds | $ | — | $ | 75,722 | $ | — | $ | 75,722 | ||||||||
Investment Company | 1,362 | — | — | 1,362 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investment Securities | $ | 1,362 | $ | 75,722 | $ | — | $ | 77,084 | ||||||||
|
|
|
|
|
|
|
|
Amounts designated as “—” are $0 or have been rounded to $0.
1 | Other Financial Instruments are derivative instruments not reflected in the total investments, such as futures and currency contracts, which are valued at the unrealized appreciation/(depreciation) on the instrument and written options and swap agreements, which are valued at fair value. |
2 | Represents a “to be announced” transaction. The Portfolio has committed to sell securities for which all specific information is not available at the time. |
C. Securities Transactions and Investment Income. For financial reporting purposes, portfolio securities transactions are reported on trade date. However, for daily NAV determination, portfolio securities transactions are reflected no later than in the first calculation on the first business day following trade date. Dividend income is recognized on theex-dividend date and foreign dividends are recognized as soon as reliable information is available from the Portfolio’s sources. Interest income, including amortization of premium and accretion of discount on investments, is accrued daily. Realized gains and losses from securities transactions are determined by comparing the identified cost of the security lot sold to the net sales proceeds. Realized gains and losses from principal payment transactions on mortgage-backed and asset-backed securities are classified as investment income or loss for financial reporting purposes.
229
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
For certain securities, including real estate investment trusts, the Portfolio records distributions received in excess of income as a reduction of the cost of investments and/or realized gain. Such amounts are based on estimates if actual amounts are not available. Actual amounts of income, realized gain and return of capital may differ from the estimated amounts. The Portfolio records adjustments to the estimated amounts of the components of distributions to investment income, unrealized appreciation/depreciation and realized gain/loss on investments as necessary, once the issuers provide information about the actual composition of the distributions.
D. Restricted Securities. A restricted security is a security that cannot be offered for public sale without prior registration under the Securities Act of 1933 (the “1933 Act”) (absent an exemption). Whether a restricted security is illiquid is determined pursuant to guidelines established by the Board. Not all restricted securities are considered illiquid.
E. Allocations. Expenses directly attributable to a Portfolio are charged to that Portfolio. Class-specific expenses, if any, are borne by that class. Other expenses are allocated proportionately among the Portfolios in relation to the net assets of each Portfolio or by another appropriate method. Income,non-class-specific expenses and realized and unrealized gains and losses are allocated to the respective classes based on relative net assets.
F. Dividends and Capital Gain Distributions to Shareholders. The Core Fixed Income Portfolio, U.S. Government Fixed Income Portfolio, Inflation Protected Portfolio, U.S. Corporate Fixed Income Portfolio, U.S. Mortgage/Asset Backed Fixed Income Portfolio, Short-Term Municipal Portfolio, Intermediate Municipal Portfolio, and Intermediate Municipal II Portfolio declare and distribute dividends from net investment income, if any, on a monthly basis. The Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, ESG Growth Portfolio, Catholic SRI Growth Portfolio and Fixed Opportunity Portfolio declare and distribute dividends from net investment income, if any, on a quarterly basis. The International Portfolio and Institutional International Portfolio declare and distribute dividends from net investment income, if any, on a semiannual basis. The Emerging Markets Portfolio declares and distributes dividends from net investment income, if any, on an annual basis. Net realized capital gains, if any, are declared and distributed at least annually by each Portfolio.
G. Repurchase Agreements. Among the instruments that each of the Portfolios may use for temporary investment purposes are repurchase agreements. Under the terms of a typical repurchase agreement, a Portfolio would acquire an underlying debt security for a relatively short period (usually not more than one week), subject to an obligation of the seller to repurchase that security from the Portfolio at an agreed-upon price and date. Repurchase agreements may involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Portfolio’s ability to dispose of the underlying securities. The creditworthiness of those banks andnon-bank dealers with which the Portfolios may enter into repurchase agreements are monitored in accordance with guidelines adopted by the Board, as is the market value of the securities underlying any repurchase agreement to ensure that the seller’s obligation to repurchase is collateralized by an amount at least equal to the repurchase price including accrued interest. All repurchase agreements are fully collateralized by cash and/or government securities (as defined in the 1940 Act). If approved by the Adviser, repurchase agreements may also be fully collateralized by other securities that, at the time the repurchase agreement is entered into, are determined by the Board, or its authorized delegate, to be (i) issued by an issuer that has an exceptionally strong capacity to meet its obligations on the collateral, and (ii) sufficiently liquid that they can be sold by the Portfolio at approximately their carrying value in the ordinary course of business within seven calendar days. Master Repurchase Agreements (“MRA”) permit the Portfolios, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset receivables under the MRA with collateral posted by the counterparty and create one net payment due to or from the Portfolios. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the counterparty’s bankruptcy or insolvency. Pursuant to the terms of the MRA, the Portfolios receive securities as collateral with a market value in excess of the repurchase price to be received by the Portfolios upon the maturity of the transaction. Upon a bankruptcy or insolvency of the counterparty, the Portfolios would recognize a liability with respect to such excess collateral to reflect the Portfolio’s obligation under bankruptcy law to return the excess to the counterparty.
230
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
The following table is a summary of each Portfolio’s open repurchase agreements that are subject to offset under an MRA on a net basis as of December 31, 2018 (amounts in thousands):
Portfolio | Value of Repurchase Agreements | Value of Collateral Received | Net Amount | |||||||||
Commodity Portfolio | $ | 4,500 | $ | 4,500 | $ | — |
H. TBA Purchase and Sale Commitments. Certain of the Portfolios may enter into “TBA” (to be announced) commitments to purchase or sell securities for a fixed price at a future date, typically not to exceed 45 days. TBA commitments may be considered securities in themselves, and involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date. Unsettled TBA commitments are valued at the current market value of the underlying securities, according to the procedures described under “Securities Valuation” above.
I. Commission Recapture. Certain of the Portfolios participate in a commission recapture program. These Portfolios will utilize the recaptured commissions to pay for, in whole or in part, certain expenses of the Portfolios, excluding investment advisory and distribution fees. The expenses eligible to be paid will include, but are not limited to, administrative service fees, audit fees, custodian fees, legal fees and printing expenses, as directed by the Trust. These amounts are disclosed as “Expenses paid indirectly” on the Statements of Operations.
For the period ended December 31, 2018, the following commissions were recaptured:
Portfolio | Commissions Recaptured (000) | |||
Value Portfolio | $ | 5 | ||
Institutional Value Portfolio | 5 | |||
Growth Portfolio | 2 | |||
Institutional Growth Portfolio | 3 | |||
Small Cap–Mid Cap Portfolio | 11 | |||
Institutional Small Cap–Mid Cap Portfolio | 6 | |||
Real Estate Portfolio | 1 | |||
Commodity Portfolio | 2 | |||
International Portfolio | 10 | |||
Institutional International Portfolio | 5 | |||
Emerging Markets Portfolio | 7 |
J. Foreign Exchange Transactions. The books and records of the Portfolios are maintained in U.S. dollars.Non-U.S. dollar denominated amounts are translated into U.S. dollars as follows, with the resultant exchange gains and losses recorded in the Statements of Operations:
i) | value of investment securities and other assets and liabilities at the exchange rate on the valuation date; and |
ii) | purchases and sales of investment securities and income and expenses at the exchange rate prevailing on the respective date of such transactions. |
The Portfolios do not isolate realized and unrealized gains and losses attributable to changes in the exchange rates from gains and losses that arise from changes in the value of investments. Such fluctuations are included with net realized and unrealized gain or loss on investments.
Dividends and interest fromnon-U.S. sources received by a Portfolio are generally subject tonon-U.S. withholding taxes at rates ranging up to 30%. Such withholding taxes may be reduced or eliminated under the terms of applicable U.S. income tax treaties, and each Portfolio intends to, if reasonable, undertake any procedural steps required to claim the benefits of such treaties. If the value of more than 50% of a Portfolio’s total assets at the close of any taxable year consists of stock or securities ofnon-U.S. corporations, the Portfolio may elect to treat anynon-U.S. taxes paid by it as paid by its shareholders.
The Portfolios may be subject to foreign taxes on gains in investments or currency repatriation. The Portfolios accrue such taxes, as applicable, based on their current interpretation of tax rules in the foreign markets in which they invest.
K. Derivative Instruments. Certain of the Portfolios may invest in various financial instruments including positions in forward currency contracts, financial futures contracts, options contracts and swap agreements.
231
Table of Contents
HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
The following is a summary of the fair value of derivative instruments held by the Portfolios as of December 31, 2018 (amounts in thousands).
Assets | ||||||||||||||||||||
Portfolio | Unrealized appreciation on futures contracts* | Investments, at value for purchased options & swaptions | Investments, at value for written options & swaptions | Unrealized appreciation on forward currency contracts* | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Value Portfolio | $ | 318 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Institutional Value Portfolio | 4,736 | — | — | — | — | |||||||||||||||
Growth Portfolio | 158 | — | — | — | — | |||||||||||||||
Institutional Growth Portfolio | 4,578 | — | — | — | — | |||||||||||||||
Commodity Portfolio | 1,022 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | — | — | — | — | — | |||||||||||||||
Catholic SRI Growth Portfolio | — | — | — | 1 | — | |||||||||||||||
International Portfolio | — | — | — | 1 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | — | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 67 | — | — | — | 13 | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | 64 | — | — | — | — | |||||||||||||||
Credit Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | — | 999 | — | — | — | |||||||||||||||
Liabilities | ||||||||||||||||||||
Portfolio | Net unrealized depreciation on futures contracts* | Purchased options & swaptions, at fair value | Written options & swaptions, at fair value | Unrealized depreciation on forward currency contracts* | Swap agreements, at value* | |||||||||||||||
Equity Risk Exposure: | ||||||||||||||||||||
Growth Portfolio | $ | 5 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Small Cap–Mid Cap Portfolio | 117 | — | — | — | — | |||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 113 | — | — | — | — | |||||||||||||||
Real Estate Portfolio | 224 | — | — | — | — | |||||||||||||||
Commodity Portfolio | 300 | — | — | — | — | |||||||||||||||
ESG Growth Portfolio | 16 | — | — | — | — | |||||||||||||||
International Portfolio | 4 | — | — | — | — | |||||||||||||||
Institutional International Portfolio | 732 | — | — | — | — | |||||||||||||||
Emerging Markets Portfolio | 3 | — | — | — | — | |||||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 1,369 | — | — | 74 | — | |||||||||||||||
International Portfolio | — | — | — | 29 | — | |||||||||||||||
Institutional International Portfolio | — | — | — | — | — | |||||||||||||||
Fixed Opportunity Portfolio | — | — | — | — | — | |||||||||||||||
Commodity Risk Exposure: | ||||||||||||||||||||
Commodity Portfolio | 309 | — | — | — | 5 |
232
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Liabilities | ||||||||||||||||||||
Portfolio | Net unrealized depreciation on futures contracts* | Purchased options & swaptions, at fair value | Written options & swaptions, at fair value | Unrealized depreciation on forward currency contracts* | Swap agreements, at value* | |||||||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | $ | 994 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Credit Risk Exposure: | ||||||||||||||||||||
Fixed Opportunity Portfolio | — | — | 259 | — | — |
* | Total fair value is presented by Primary Risk Exposure. For forward currency contracts, such amounts represent appreciation (for asset derivatives) or depreciation (for liability derivatives). For futures contracts the amounts represent their cumulative appreciation/depreciation, which includes movements of variation margin. |
Amounts designated as “—” are $0 or have been rounded to $0.
The following is a summary of the effect of derivative instruments on the Statements of Operations for the period ended December 31, 2018 (amounts in thousands):
Portfolio | Net realized gains/(losses) from futures transactions | Net realized gains/(losses) from options & swaptions transactions | Net realized gains/(losses) from forward currency contracts | Net realized gains/(losses) from swap transactions | ||||||||||||
Equity Risk Exposure: | ||||||||||||||||
Value Portfolio | $ | (2,583 | ) | $ | — | $ | — | $ | — | |||||||
Institutional Value Portfolio | (1,310 | ) | — | — | — | |||||||||||
Growth Portfolio | (2,300 | ) | — | — | — | |||||||||||
Institutional Growth Portfolio | (1,383 | ) | — | — | — | |||||||||||
Small Cap–Mid Cap Portfolio | (460 | ) | — | — | — | |||||||||||
Institutional Small Cap–Mid Cap Portfolio | (706 | ) | — | — | — | |||||||||||
Real Estate Portfolio | (150 | ) | — | — | — | |||||||||||
Commodity Portfolio | (12,966 | ) | — | — | — | |||||||||||
ESG Growth Portfolio | (306 | ) | — | — | — | |||||||||||
International Portfolio | (7,286 | ) | — | — | — | |||||||||||
Institutional International Portfolio | (5,792 | ) | — | — | — | |||||||||||
Emerging Markets Portfolio | (4,675 | ) | — | — | — | |||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||
Commodity Portfolio | (1,079 | ) | — | — | — | |||||||||||
ESG Growth Portfolio | — | — | 4 | — | ||||||||||||
Catholic SRI Growth Portfolio | — | — | 18 | — | ||||||||||||
International Portfolio | 502 | — | 350 | — | ||||||||||||
Institutional International Portfolio | 1,045 | — | 74 | — | ||||||||||||
Emerging Markets Portfolio | — | — | (88 | ) | — | |||||||||||
Commodity Risk Exposure: | ||||||||||||||||
Commodity Portfolio | (3,742 | ) | (23 | ) | (100 | ) | (277 | ) | ||||||||
Interest Rate Risk Exposure: | ||||||||||||||||
Commodity Portfolio | — | — | — | — | ||||||||||||
Fixed Opportunity Portfolio | 345 | — | — | — | ||||||||||||
Credit Risk Exposure: | ||||||||||||||||
Fixed Opportunity Portfolio | — | — | — | 786 |
233
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HC CAPITAL TRUST
Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result from Operations | ||||||||||||||||
Portfolio | Change in unrealized appreciation/ (depreciation) on futures | Change in unrealized appreciation/ (depreciation) on options & swaptions | Change in unrealized appreciation/ (depreciation) on forward currency contracts | Change in unrealized appreciation/ (depreciation) on swaps | ||||||||||||
Equity Risk Exposure: | ||||||||||||||||
Value Portfolio | $ | 1,032 | $ | — | $ | — | $ | — | ||||||||
Institutional Value Portfolio | 6,955 | — | — | — | ||||||||||||
Growth Portfolio | 188 | — | — | — | ||||||||||||
Institutional Growth Portfolio | 5,485 | — | — | — | ||||||||||||
Small Cap–Mid Cap Portfolio | (3 | ) | — | — | — | |||||||||||
Institutional Small Cap–Mid Cap Portfolio | (18 | ) | — | — | — | |||||||||||
Real Estate Portfolio | (497 | ) | — | — | — | |||||||||||
Commodity Portfolio | 509 | — | — | — | ||||||||||||
ESG Growth Portfolio | 13 | — | — | — | ||||||||||||
International Portfolio | 2,743 | — | — | — | ||||||||||||
Institutional International Portfolio | 922 | — | — | — | ||||||||||||
Emerging Markets Portfolio | 121 | — | — | — | ||||||||||||
Foreign Exchange Rate Risk Exposure: | ||||||||||||||||
Commodity Portfolio | (1,313 | ) | — | (74 | ) | — | ||||||||||
Catholic SRI Growth Portfolio | — | — | 1 | — | ||||||||||||
International Portfolio | (63 | ) | — | (39 | ) | — | ||||||||||
Institutional International Portfolio | (132 | ) | — | (19 | ) | — | ||||||||||
Emerging Markets Portfolio | — | — | 1 | — | ||||||||||||
Fixed Opportunity Portfolio | — | — | — | — | ||||||||||||
Commodity Risk Exposure: | ||||||||||||||||
Commodity Portfolio | 892 | (52 | ) | — | 111 | |||||||||||
Interest Rate Risk Exposure: | ||||||||||||||||
Fixed Opportunity Portfolio | (676 | ) | — | — | — | |||||||||||
Credit Risk Exposure: | ||||||||||||||||
Fixed Opportunity Portfolio | — | 277 | — | 54 |
Amounts designated as “—” are $0 or have been rounded to $0.
The Trust is generally subject to master netting agreements (“MNA”) that allow for amounts owed between a Portfolio and the counterparty to be netted. The party that has the larger payable pays the excess of the larger amount over the smaller amount to the counterparty. The MNA do not apply to amounts owed to/from different counterparties. The amounts shown in the Statement of Assets and Liabilities do not take into consideration the effects of legally enforceable MNA. The table below presents the gross and net amounts of these assets and liabilities with any offsets to reflect the Portfolio’s ability to transact net amounts with counterparties at December 31, 2018.
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As of December 31, 2018, each Portfolio’s derivative assets and liabilities by type are as follows (amounts in thousands):
Value Portfolio | Institutional Value Portfolio | Growth Portfolio | Institutional Growth Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | 66 | $ | — | $ | 955 | $ | — | $ | 73 | $ | — | $ | 757 | $ | — | ||||||||||||||||
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| |||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | 66 | — | 955 | — | 73 | — | 757 | — | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | (66 | ) | — | (955 | ) | — | (73 | ) | — | (757 | ) | — | ||||||||||||||||||||
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Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
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SmallCap-Mid Cap Portfolio | Institutional Small Cap-Mid Cap Portfolio | Real Estate Portfolio | Commodity Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | 6 | $ | — | $ | 30 | $ | — | $ | 43 | $ | — | $ | 1,243 | $ | — | ||||||||||||||||
Forward currency contracts | — | — | — | — | — | — | — | 74 | ||||||||||||||||||||||||
Option contracts* | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Swap agreements | — | — | — | — | — | — | 13 | 5 | ||||||||||||||||||||||||
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| |||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | 6 | — | 30 | — | 43 | — | 1,256 | 79 | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | (6 | ) | — | (30 | ) | — | (43 | ) | — | (1,243 | ) | (74 | ) | |||||||||||||||||||
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| |||||||||||||||||
Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 13 | $ | 5 | ||||||||||||||||
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| |||||||||||||||||
ESG Growth Portfolio | Catholic SRI Growth Portfolio | International Portfolio | Institutional International Portfolio | |||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | 2 | $ | — | $ | — | $ | — | $ | — | $ | 15 | $ | 19 | $ | — | ||||||||||||||||
Forward currency contracts | — | — | 1 | — | 1 | 29 | — | — | ||||||||||||||||||||||||
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| |||||||||||||||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | 2 | — | 1 | — | 1 | 44 | 19 | — | ||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | (2 | ) | — | (1 | ) | — | (1 | ) | (44 | ) | (19 | ) | — | |||||||||||||||||||
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Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
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Emerging Markets Portfolio | Fixed Opportunity Portfolio | |||||||||||||||||||||||||||||||
Assets | Liabilities | Assets | Liabilities | |||||||||||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||||||||||||||
Futures contracts | $ | — | $ | 80 | $ | 5 | $ | — | ||||||||||||||||||||||||
Swaptions | — | 999 | 259 | |||||||||||||||||||||||||||||
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Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 80 | 1,004 | 259 | ||||||||||||||||||||||||||||
Derivatives not subject to a MNA or similar agreement | — | (80 | ) | (5 | ) | — | ||||||||||||||||||||||||||
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| |||||||||||||||||||||||||
Total assets and liabilities subject to a MNA | $ | — | $ | — | $ | 999 | $ | 259 | ||||||||||||||||||||||||
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|
|
* | Includes options contracts purchased at value as reported in the Statements of Assets and Liabilities. |
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The following table represents the Commodity Portfolio and Fixed Opportunity Portfolio derivative assets by counterparty, net of amounts available for offset under a MNA and net of the related collateral received by the Portfolio as of December 31, 2018 (amounts in thousands).
Counterparty | Derivative Assets Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Received (a) | Cash Collateral Received (a) | Net Amount of Derivative Assets | |||||||||||||||
Commodity Portfolio | ||||||||||||||||||||
Goldman Sachs International | $ | 13 | $ | (4 | ) | $ | — | $ | (9 | ) | $ | — | ||||||||
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Total | $ | 13 | $ | (4 | ) | $ | — | $ | (9 | ) | $ | — | ||||||||
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Fixed Opportunity Portfolio: | ||||||||||||||||||||
Goldman Sachs International | $ | 999 | $ | (259 | ) | $ | — | $ | (740 | ) | $ | — | ||||||||
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| |||||||||||
Total | $ | 999 | $ | (259 | ) | $ | — | $ | (740 | ) | $ | — | ||||||||
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|
|
|
|
|
|
|
|
The following table represents the Commodity Portfolio’s and the Fixed Opportunity Portfolio’s derivative liabilities by counterparty, net of amounts available for offset under an MNA and net of the related collateral pledged by the Portfolios as of December 31, 2018 (amounts in thousands).
Counterparty | Derivative Liabilities Subject to a MNA by Counterparty | Derivatives Available for Offset | Non-cash Collateral Pledged (a) | Cash Collateral Pledged (a) | Net Amount of Derivative Liabilities | |||||||||||||||
Commodity Portfolio | ||||||||||||||||||||
Barclays Bank PLC | $ | 1 | $ | — | $ | — | $ | — | $ | 1 | ||||||||||
Goldman Sachs International | 4 | (4 | ) | — | — | — | ||||||||||||||
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Total | $ | 5 | $ | (4 | ) | $ | — | $ | — | $ | 1 | |||||||||
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Fixed Opportunity Portfolio: | ||||||||||||||||||||
Goldman Sachs International | $ | 259 | $ | (259 | ) | $ | — | $ | — | $ | — | |||||||||
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Total | $ | 259 | $ | (259 | ) | $ | — | $ | — | $ | — | |||||||||
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(a) | The actual collateral received or pledged may be in excess of the amounts shown in the tables. The tables only reflect collateral amounts up to the amount of the financial instruments disclosed on the Statements of Assets and Liabilities. |
Amounts designated as “—” are $0 or have been rounded to $0.
Forward Currency Contracts: Certain of the Portfolios may be subject to currency exchange rate risk in the normal course of pursuing their investment objectives. A Portfolio enters into forward currency contracts (“forward contracts”) for the purpose of hedging exposure to changes in foreign currency exchange rates on its holdings. A forward contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The value of the forward contract fluctuates with changes in currency exchange rates. The forward contract ismarked-to-market daily and the change in value is recorded by the Portfolio as unrealized appreciation or depreciation. When the forward contract is closed, the Portfolio records a realized gain or loss equal to the fluctuation in value during the period the forward contract was open. The Portfolio is subject to credit risk, which is the risk that the counterparty is unable to meet the terms of a forward contract, and market risk, which is the risk that the value of the currency changes unfavorably.
Forward contracts may involve credit or market risk in excess of the amounts reflected on a Portfolio’s Statement of Assets and Liabilities. The gain or loss from the difference between the cost of original contracts and the amount realized upon the closing of such forward contracts is included in net realized gains or losses on foreign currency transactions. Fluctuations in the value of forward contracts held at December 31, 2018 are recorded for financial reporting purposes as net unrealized gains or losses. In addition, at December 31, 2018, the Portfolios entered into currency contracts to settle trades in foreign currencies. These transactions are included in “Receivable from investments sold” and “Payable for investments
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purchased” on the Statements of Assets and Liabilities. There were no open forward currency contracts as of December 31, 2018. Themonth-end average contract amount for all forward contracts during the period ended December 31, 2018 are detailed in the table below:
Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | |||||||||||||||
Forward Foreign Currency Exchange Contracts: | Long | Short | Long | Short | ||||||||||||
Commodity Portfolio | $ | — | $ | 5,902 | $ | — | $ | 984 | ||||||||
SRI Growth Portfolio | 67 | — | 11 | — | ||||||||||||
International Portfolio | 126 | 3,706 | 21 | 617 | ||||||||||||
Institutional International Portfolio | 40 | 16 | 7 | 3 | ||||||||||||
Emerging Markets Portfolio | — | — | — | 3 | ||||||||||||
Fixed Opportunity Portfolio | 1 | — | — | — |
Financial Futures Contracts: Certain of the Portfolios may be subject to equity price risk, interest rate risk, commodity price risk and foreign currency exchange rate risk in the normal course of pursuing their investment objectives. Certain of the Portfolios may invest in financial futures contracts (“futures contracts”) as part of their investment strategies, to gain exposure to or hedge against changes in the value of equities, interest rates or foreign currencies. The Commodity Portfolio may invest in commodity-linked futures contracts to gain exposure to the commodities market. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date. Upon entering into a futures contract, a Portfolio is required to pledge to the broker an amount of cash and/or other assets equal to a certain percentage of the contract amount (initial margin deposit). Subsequent payments, known as “variation margin,” may be made or received by a Portfolio each day, depending on the daily fluctuations in the value of the underlying financial instrument. A Portfolio recognizes a gain or loss equal to the daily variation margin, which is recorded as a receivable or payable on the Statement of Assets and Liabilities (if applicable). When a futures contract is closed, a realized gain or loss is recorded as “Net realized gains/(losses) from futures transactions” on the Statement of Operations. Should market conditions move unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may realize a loss. The use of futures transactions involves the risk of an imperfect correlation in movements in the price of futures contracts, interest rates, and the underlying hedged assets. With futures contracts, there is minimal counterparty credit risk to the Portfolios since futures contracts are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees the futures contracts against default. Securities designated as collateral for market value on futures contracts are noted in each Portfolio’s Portfolio of Investments (if applicable). Such collateral is held with the broker. The notional value of the futures contracts outstanding at December 31, 2018 and themonth-end average notional amount for the period ended December 31, 2018 are detailed in the table below:
Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | |||||||||||||||
Futures Contracts: | Long | Short | Long | Short | ||||||||||||
Value Portfolio | $ | 8,048 | $ | — | $ | — | $ | — | ||||||||
Institutional Value Portfolio | 110,247 | — | 45,093 | — | ||||||||||||
Growth Portfolio | 19,427 | — | 9,454 | — | ||||||||||||
Institutional Growth Portfolio | 114,019 | — | 29,353 | — | ||||||||||||
Small Cap–Mid Cap Portfolio | 2,361 | — | 2,318 | — | ||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 4,991 | — | 3,789 | — | ||||||||||||
Real Estate Portfolio | 7,637 | — | 10,527 | — | ||||||||||||
Commodity Portfolio | 266,504 | 354 | 102,000 | 2,678 | ||||||||||||
ESG Growth Portfolio | 422 | — | 998 | — | ||||||||||||
International Portfolio | — | 29,773 | 27,006 | 12,924 | ||||||||||||
Institutional International Portfolio | 39,725 | — | 37,746 | 16,593 | ||||||||||||
Emerging Markets Portfolio | — | 918 | 22,524 | 153 | ||||||||||||
Fixed Opportunity Portfolio | 2,868 | 37,041 | 12,645 | 42,503 |
Purchased Options & Swaptions Contracts: Certain of the Portfolios may be subject to equity price risk, commodities price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/
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or in anticipation of future purchases, including to achieve market exposure pending direct investment in securities, certain of the Portfolios may purchase put or call options. Options contracts provide the purchaser with the right, but not the obligation, to buy or sell (call or put option, respectively) a financial instrument at the exercise price. The Portfolio pays a premium which is included in “Investments, at value” on the Statement of Assets and Liabilities andmarked-to-market to reflect the current value of the option. Premiums paid for purchasing options which expire are treated as realized losses. When an option is exercised or closed, premiums paid for purchasing options are offset against proceeds to determine the realized gain or loss on the transaction.
Written Options & Swaptions Contracts: Certain of the Portfolios may be subject to equity price risk, commodities price risk and interest rate risk in the normal course of pursuing their investment objectives. In order to reduce such risks and/or in anticipation of future purchases, including to achieve market exposure pending direct investment in securities, certain of the Portfolios may write put or call options. Premiums received from written options contracts are recorded as liabilities on the Statement of Assets and Liabilities and aremarked-to-market to reflect the current value of the options written. Premiums received from writing options which expire are treated as realized gains. Premiums received from writing options, which are either exercised or closed, are offset against the proceeds received or the amount paid on the transaction to determine realized gains or losses. Realized gains and losses are reported as “Net realized gains/(losses) from written options transactions” on the Statement of Operations (if applicable). When writing an option, the Portfolio bears the market risk of unfavorable changes in the price of the underlying instrument.
Credit default swaptions may be written or purchased to hedge exposure to the credit risk of an investment without making a commitment to the underlying instrument. A credit default swaption is an option to sell or buy credit protection on a specific reference by entering into apre-defined swap agreement by some specific date in the future.
With exchange-traded options, there is minimal counterparty credit risk to the Portfolios since the exchange’s clearinghouse, as counterparty to all exchange-traded options, guarantees the options against default. Withover-the-counter options, the Portfolios bear the risk that counterparties will be unable to perform under the terms of the contracts.
The notional value of purchased and written options and swaptions outstanding at December 31, 2018 and themonth-end average notional amount for the period ending December 31, 2018 are detailed in the table below:
Option and Swaptions Contracts: | Outstanding Notional Amount (000) | Monthly Average Notional Amount (000) | ||||||
Commodity Portfolio | $ | — | $ | — | ||||
Fixed Opportunity Portfolio | 5,834 | 4,972 |
Amounts designated as “—” have been rounded to $0.
Swap Agreements: Certain of the Portfolios may enter into swap agreements (“swaps”) for purposes of attempting to gain exposure to the securities making up an index without actually purchasing those instruments, to hedge a position or to gain exposure to a particular instrument or currency. A swap is atwo-party contract entered into for periods ranging from one day to more than one year. In a standard swap transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect to a “notional amount,” i.e., the return on or increase in value of a particular dollar amount invested in a “basket” of securities representing a particular index. Swap agreements are privately negotiated in theover-the-counter (“OTC”) market and may be entered into as a bilateral contract (“OTC swaps”) or cleared through a third party, known as a clearing organization (“centrally cleared swap”). Swaps are marked to market daily based upon valuations as determined from the underlying contract or in accordance with the requirements of the clearing organization. Changes in market value, if any, are reflected as a component of net change in unrealized appreciation or depreciation on swap agreements on the Statement of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as variation margin on swap agreements on the Statement of Assets and Liabilities.
Total Return Swaps: Certain of the Portfolios may enter into total return swaps to gain or mitigate exposure to the underlying securities or indices. In “long” total return swaps, the counterparty will generally agree to pay the Portfolio the amount, if any, by which the notional amount of the swaps would have increased in value had it been invested in the particular instruments, plus an amount equal to any dividends or interest that would have been received on those instruments. The Portfolio will agree to pay to the counterparty an amount equal to a fixed or floating rate of interest on the notional
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amount of the swaps plus the amount, if any, by which the notional amount would have decreased in value had it been invested in such instruments plus, in certain instances, commissions or trading spreads on the notional amount. Total return swaps do not involve the delivery of securities or other underlying instruments. The net amount of the excess, if any, of a Portfolio’s obligations over its entitlements with respect to each swap is accrued on a daily basis and an amount of cash or liquid assets, having an aggregate value at least equal to such accrued excess, is maintained at the broker-dealer or the Portfolio’s custodian. Until a total return swap is settled in cash, the gain or loss on the notional amount plus dividends or interest on the instruments less the interest paid by the Portfolio on the notional amount is recorded as “unrealized appreciation or depreciation on swap agreements” and, when cash is exchanged, the gain or loss realized is recorded as “realized gains or losses on swap transactions.” A Portfolio may enter into total return swaps that provide the opposite return of its benchmark index or security (“short” the index or security). Its operations are similar to those swaps disclosed above except that the counterparty pays interest to the Portfolio on the notional amount outstanding and that dividends or interest on the underlying instruments reduce the value of the swaps plus, in certain instances, the Portfolio will agree to pay to the counterparty commissions or trading spreads on the notional amount. These amounts are netted against any unrealized appreciation or depreciation to determine the value of the swaps.
Credit Default Swaps: Certain of the Portfolios may invest in credit default swaps for hedging purposes or for market exposure. Credit default swaps involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return in the event of a default or other credit event for the referenced entity, obligation or index and are subject to credit risk exposure. The maximum potential amount of future payments that a Portfolio as a seller of protection could be required to make under a credit default swap agreement would be an amount equal to the notional amount of the agreement. Notional amounts of each individual credit default swap agreement outstanding for which a Portfolio is the seller of protection are disclosed in the Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swap agreements entered into by a Portfolio for the same referenced entity or entities.
The primary risks associated with the use of swaps are an imperfect correlation between the prices of financial instruments and movements in the prices of the underlying investments and the inability of counterparties to perform under the agreement. The counterparty to any swap agreement will typically be a bank, investment banking firm or broker-dealer. The Portfolio will bear the counterparty risk, i.e., the risk of loss of the net amount, if any, expected to be received under a swap in the event of the default or bankruptcy of the swap counterparty. The counterparty risk for centrally cleared swap agreements is generally lower than for OTC swap agreements because generally a clearing organization becomes substituted for each counterparty to a centrally cleared swap agreement and, in effect, guarantees the parties’ performance under the contract as each party to a trade looks only to a clearing house for performance of financial obligations. However, there can be no assurance that the clearing house, or its members will satisfy obligations to the Portfolio. The unrealized gain or loss at December 31, 2018 is disclosed in the swap tables included in the Portfolios of Investments. The notional value of the swap agreements outstanding at December 31, 2018 and themonth-end average notional amount for the period ended December 31, 2018 are detailed in the tables below (amounts in thousands):
Outstanding Notional Amount | Monthly Average Notional Amount | |||||||
Total Return Swap Agreements: | ||||||||
Commodity Portfolio | $ | 235 | $ | 1,048 | ||||
Commodity Forward Swap Agreements: | ||||||||
Commodity Portfolio | 45 | 494 |
Outstanding Notional Amount | Monthly Average Notional Amount | |||||||||||||||
Buy Protection | Sell Protection | Buy Protection | Sell Protection | |||||||||||||
Credit Default Swap Agreements: | ||||||||||||||||
Fixed Opportunity Portfolio | $ | — | $ | — | $ | — | $ | 39,358 |
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
L. Inflation Indexed Bonds. Certain of the Portfolios may invest in inflation-indexed bonds, which are fixed-income securities whose principal value is periodically adjusted based on the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation-indexed bond, however, interest will be paid based on a principal value which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation-indexed bond resulting from inflation or deflation, respectively, as measured by the change in the Consumer Price Index, will be included as interest income or loss on the Statements of Operations, even though investors do not receive their principal until maturity. During the period ended December 31, 2018, the Inflation Protected Portfolio recognized income due to the increase in the Consumer Price Index.
Interest rates on conventional bonds have two primary components: a “real” yield and an increment that reflects investor expectations of future inflation. By contrast, interest payments on inflation-indexed bonds are adjusted for inflation and, therefore, are not affected meaningfully by inflation expectations. This leaves only changes in real rates to influence the price of inflation-indexed bonds. A rise in real rates will cause the price of inflation-indexed bonds to fall, while a decline in real rates will boost the price of inflation-indexed bonds. Inflation-indexed bonds issued bynon-U.S. governments are generally indexed to the inflation rates prevailing in those countries.
The primary risk associated with the use of inflation-indexed bonds is that the principal value of an investment is not protected or otherwise guaranteed by virtue of the Portfolio’s investments in inflation-indexed bonds. If the index measuring inflation falls, the principal value of inflation-indexed bonds will be adjusted downward and, consequently, the interest payable on these securities (calculated with respect to a smaller principal amount) will be reduced. Repayment of the original bond principal upon maturity (as adjusted for inflation) is guaranteed in the case of U.S. treasury inflation-indexed bonds. For bonds that do not provide a similar guarantee, the adjusted principal value of the bond repaid at maturity may be less than the original principal value. Deflation risk is the possibility that prices throughout the economy decline over time, in which case, the principal and income of an inflation-protected bond will decline and may result in losses.
M. Bank Loans. Certain Portfolios may invest in bank loans, which generally have interest rates which are reset periodically by reference to a base lending rate plus a premium. These base rates are primarily the London-Interbank Offered Rate and, secondarily, the prime rate offered by one or more major U.S. banks and the certificate of deposit rate or other base lending rates used by commercial lenders. Bank loans often require prepayments from excess cash flows or allow the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. Therefore, the anticipated or actual maturity may be considerably earlier than the stated maturity shown in the Portfolio of Investments. The Portfolios did not hold any bank loans as of December 31, 2018.
All or a portion of any bank loans may be unfunded. A Portfolio is obligated to fund any commitments at the borrower’s discretion. Therefore, the Portfolio must have funds sufficient to cover its contractual obligation. These unfunded loan commitments, which aremarked-to-market daily, are presented in the Portfolio of Investments.
N. Securities Lending. Certain of the Portfolios may lend their portfolio securities to broker-dealers pursuant to a Master Securities Lending Agreement (“MSLA”) that requires the borrower to post collateral equal to at least the market value of the securities loaned, which ismarked-to-market on a daily basis. Any collateral shortfalls associated with increases in the valuation of the securities loaned are adjusted the next business day. The Portfolios will continue to benefit from interest or dividends on the securities loaned and may also earn a return from the collateral. The Portfolios pay various fees in connection with the investment of the collateral. Any voting rights, or rights to consent, relating to securities loaned, pass to the borrower. Currently cash collateral received by a Portfolio in securities lending transactions may only be invested in repurchase agreements or money market funds that invest in U.S. treasury obligations. A Portfolio bears the risk of such investments. Securities on loan at December 31, 2018 are presented in the Portfolios of Investments. The Portfolios pay the Securities Lending Agent fees based on the investment income received from securities lending activities as reflected on the Statements of Operations.
Cash collateral received from the borrower is recorded in the Statements of Assets and Liabilities as “Payable for collateral received on loaned securities.” Investments acquired with such cash collateral are reported in a manner consistent with other portfolio investments held by the Portfolios as an investment, at value on the Statements of Assets and Liabilities. The Portfolios may receivenon-cash collateral in the form of securities such as U.S. treasuries, which the Portfolios may not sell orre-pledge and accordingly are not reflected in the Statements of Assets and Liabilities.
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Securities lending transactions are entered into by a Portfolio under a MSLA which permits the Portfolio, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset amounts payable by the Portfolio to the same counterparty against amounts to be received and create a net payment due to or from the Portfolio.
The following table is a summary of the Portfolios’ securities lending transactions accounted for as secured borrowings, which are subject to offset under an MSLA, at December 31, 2018 (amounts in thousands):
Portfolio | Value of Securities on Loan | Value of Collateral Received* | Net Amount | |||||||||
Value Portfolio | $ | 1 | $ | 1 | $ | — | ||||||
Small Cap–Mid Cap Portfolio | 908 | 908 | — | |||||||||
Institutional Small Cap–Mid Cap Portfolio | 1,299 | 1,299 | — | |||||||||
Commodity Portfolio | 2,229 | 2,229 | — | |||||||||
International Portfolio | 19,506 | 19,506 | — | |||||||||
Institutional International Portfolio | 35,081 | 35,081 | — | |||||||||
Emerging Markets Portfolio | 25,065 | 25,065 | — | |||||||||
Fixed Opportunity Portfolio | 41,527 | 41,527 | — |
* | The actual collateral received may be in excess of the amounts shown in the table. The table only reflects collateral amounts up to the amount of the value of securities on loan as disclosed in the Portfolios of Investments. Any collateral shortfalls associated with increases in the valuation of the securities loaned are adjusted the next business day. |
Securities lending transactions as of December 31, 2018 (amounts in thousands):
Security Type | Remaining Contractual Maturity of the Agreements | |||||||||||||||||||||||||||||||||||||||||||
Portfolio | Common Stocks | Preferred Stock | Corporate Bonds | Yankee Dollars | Exchange- Traded Fund | Investment Company | Overnight and Continuous | Up to 30 days | Total Value of Securities on Loan | Value of Collateral Received* | Net Amount Due to/(from) Counterparty | |||||||||||||||||||||||||||||||||
Value Portfolio | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1 | $ | — | $ | 1 | $ | 1 | $ | — | ||||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 842 | — | — | — | — | 66 | 908 | — | 908 | 987 | 79 | |||||||||||||||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 1,299 | — | — | — | — | — | 1,299 | — | 1,299 | 1,368 | 69 | |||||||||||||||||||||||||||||||||
Commodity Portfolio | 2,229 | — | — | — | — | — | 927 | 1,302 | 2,229 | 2,355 | 126 | |||||||||||||||||||||||||||||||||
International Portfolio | 19,506 | — | — | — | — | — | 615 | 18,891 | 19,506 | 20,399 | 893 | |||||||||||||||||||||||||||||||||
Institutional International Portfolio | 35,081 | — | — | — | — | — | 22,997 | 12,084 | 35,081 | 37,608 | 2,527 | |||||||||||||||||||||||||||||||||
Emerging Markets Portfolio | 19,882 | 5,183 | — | — | — | — | 25,065 | — | 25,065 | 26,481 | 1,416 | |||||||||||||||||||||||||||||||||
Fixed Opportunity Portfolio | — | — | 6,721 | 1,329 | 33,477 | — | 41,527 | — | 41,527 | 43,861 | 2,334 |
* | Includes cash collateral andnon-cash collateral. |
O. Basis for Consolidation for the Commodity Portfolio. The HC Commodity Related Securities Fund, Ltd. and the HC Commodity Related Securities Fund II, Ltd. (the “Funds”) are incorporated as Cayman Islands exempted companies. The Funds are wholly-owned subsidiaries of the Commodity Portfolio and act as investment vehicles for the Commodity Portfolio for the purpose of effecting certain commodity-linked investments consistent with its investment objectives. The Funds may invest in commodity-linked derivative instruments including options, futures and swaps. The Funds may also invest in debt securities, some of which are intended to serve as margin or collateral for the Funds’ derivative positions.
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Under the Articles of Association of each of the Funds, shares issued by the Funds give the Commodity Portfolio, as the sole shareholder, the right to receive notice of, to attend, and to vote at general meetings of the Funds, the right to participate in the profits of the Funds and rights to the assets of the Funds in the event that they are liquidated.
The following table summarizes the structure, incorporation and relationship information of the Funds, and certain financial information of the Funds recognized in the consolidated financial statements referred to above (amounts in thousands).
HC Commodity Related Securities Fund, Ltd. | HC Commodity Related Securities Fund II, Ltd. | |||||||
Date of Incorporation | April 27, 2011 | �� | June 2, 2011 | |||||
Fund Net Assets | ||||||||
Commodity Portfolio | $ | 1,460 | $ | — | ||||
Subsidiary percentage of Fund net assets | 0.32 | % | 0.00 | % | ||||
Consolidated Financial Statement Information | ||||||||
Total assets | $ | 1,736 | $ | — | ||||
Total liabilities | 276 | — | ||||||
Net assets | 1,460 | — | ||||||
Total investment income | 69 | — | ||||||
Net investment income | 69 | — | ||||||
Net realized gains/(losses) from investment transactions and foreign currency translations | 8 | — | ||||||
Net realized gains/(losses) from futures transactions | (3,742 | ) | — | |||||
Net realized gains/(losses) from options transactions | (23 | ) | — | |||||
Net realized gains/(losses) from swap transactions | (277 | ) | — | |||||
Net realized gains/(losses) from forward currency contracts | — | — | ||||||
Change in net unrealized appreciation/(depreciation) on investments and foreign currency translations | 45 | — | ||||||
Change in net unrealized appreciation/(depreciation) on futures | 508 | — | ||||||
Change in net unrealized appreciation/(depreciation) on options | (52 | ) | — | |||||
Change in net unrealized appreciation/(depreciation) on swaps | 111 | — | ||||||
Net realized/unrealized gains/(losses) from investments, futures, options, swaps, and foreign currency transactions | (3,422 | ) | — | |||||
Change in net assets resulting from operations | (3,353 | ) | — |
Amounts designated as “—” are $0 or have been rounded to $0.
The Commodity Portfolio fully liquidated its investment in the HC Commodity Related Securities Fund II, Ltd. on July 3, 2018. The consolidated financial statements include the accounts of the Commodity Portfolio and the Funds. All intercompany transactions and balances have been eliminated.
P. Recent Accounting Pronouncements. In March 2017, FASB issued Accounting Standards Update (“ASU”)No. 2017-08 “Premium Amortization on Purchased Callable Debt Securities” (“ASU2017-08”), which shortens the premium amortization period for purchasednon-contingently callable debt securities. ASU2017-08 specifies that the premium amortization period ends at the earliest call date, for purchasednon-contingently callable debt securities. ASU2017-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management does not believe that adoption of ASU2017-08 will materially impact the Portfolios’ financial statements.
In August 2018, FASB issued ASUNo. 2018-13, “Fair Value Measurements” (“ASU2018-13”). This update makes certain removals from, changes to and additions to existing disclosure requirements for fair value measurements. ASU2018-13 does not change fair value measurements already required or permitted by existing standards. ASU2018-13 is effective for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted. As permitted, the Portfolios have early adopted ASU 2018-13 with the financial statements prepared as of December 31, 2018.
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In August 2018, the SEC adopted amendments to certain financial statement disclosure requirements to conform them to GAAP for investment companies. These amendments made certain removals from, changes to and additions to existing disclosure requirements under RegulationS-X. The Portfolios’ adoption of these amendments, effective with the financial statements prepared as of December 31, 2018, had no effect on the Portfolios’ net assets or results of operations. As a result of adopting these amendments, the distributions to shareholders in the June 30, 2018 Statements of Changes in Net Assets presented herein have been reclassified to conform to the current year presentation, which includes all distributions to each Class of shareholders, other than tax basis return of capital distributions, in one line item. Prior to adoption of this amendment, the distributions to shareholders in the June 30, 2018 Statement of Changes in Net Assets appeared as follows:
Value Portfolio | Institutional Value Portfolio | Growth Portfolio | Institutional Growth Portfolio | Small Cap–Mid Cap Portfolio | ||||||||||||||||
For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | ||||||||||||||||
Distributions: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | $ | (13,471) | $ | (17,837) | $ | (7,693) | $ | (11,617) | $ | (391) | ||||||||||
HC Advisors Shares | (18) | (25) | (10) | (16) | (1) | |||||||||||||||
Net realized gains: | ||||||||||||||||||||
HC Strategic Shares | $ | (28,142) | $ | (54,372) | $ | (38,337) | $ | (42,580) | $ | — | ||||||||||
HC Advisors Shares | (40) | (102) | (54) | (82) | — | |||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | Real Estate Portfolio | Commodity Portfolio | ESG Growth Portfolio | Catholic SRI Growth Portfolio | ||||||||||||||||
For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | ||||||||||||||||
Distributions: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | $ | (745 | ) | $ | (1,919) | $ | (25,672 | ) | $ | (4,367) | $ | (805) | ||||||||
HC Advisors Shares | (1 | ) | — | (31 | ) | — | — | |||||||||||||
Net realized gains: | ||||||||||||||||||||
HC Strategic Shares | $ | (13,508 | ) | $ | (3,669) | $ | — | $ | — | $ | (719) | |||||||||
HC Advisors Shares | (22 | ) | — | — | — | — | ||||||||||||||
International Portfolio | Institutional International Portfolio | Emerging Markets Portfolio | Core Fixed Income Portfolio | Fixed Opportunity Portfolio | ||||||||||||||||
For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | ||||||||||||||||
Distributions: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | $ | (37,147 | ) | $ | (92,471 | ) | $ | (37,919 | ) | $ | (1,807 | ) | $ | (36,991 | ) | |||||
HC Advisors Shares | (52 | ) | (118 | ) | (59 | ) | (59 | ) | (36 | ) | ||||||||||
Net realized gains: | ||||||||||||||||||||
HC Strategic Shares | $ | — | $ | (3,589 | ) | $ | — | $ | — | $ | — | |||||||||
HC Advisors Shares | — | (6 | ) | — | — | — |
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U.S. Government Fixed Income Portfolio | Inflation Protected Portfolio | U.S. Corporate Fixed Income Portfolio | U.S. Mortgage/Asset Backed Fixed Income Portfolio | Short-Term Municipal Portfolio | ||||||||||||||||
For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | For the year ended June 30, 2018 | ||||||||||||||||
Distributions: | ||||||||||||||||||||
Net investment income: | ||||||||||||||||||||
HC Strategic Shares | $ | (3,895) | $ | (8,925) | $ | (7,952) | $ | (5,116) | $ | (347) | ||||||||||
HC Advisors Shares | — | — | — | — | — | |||||||||||||||
Net realized gains: | ||||||||||||||||||||
HC Strategic Shares | $ | — | $ | — | $ | (857 | ) | $ | — | $ | — | |||||||||
HC Advisors Shares | — | — | — | — | — |
Intermediate Municipal Portfolio | Intermediate Municipal II Portfolio | |||||||
For the year ended June 30, 2018 | For the year ended June 30, 2018 | |||||||
Distributions: | ||||||||
Net investment income: | ||||||||
HC Strategic Shares | $ | (7,581 | ) | $ | (1,642 | ) | ||
HC Advisors Shares | (26 | ) | (8 | ) | ||||
Net realized gains: | ||||||||
HC Strategic Shares | $ | — | $ | (3 | ) | |||
HC Advisors Shares | — | — |
3. INVESTMENT ADVISORY AND ADMINISTRATIVE CONTRACTS. The Trust has entered into investment advisory contracts (“Portfolio Management Contracts”) on behalf of each of the Portfolios with one or more investment management organizations (each, a “Specialist Manager”). For the Portfolio(s) it serves, each Specialist Manager is responsible for providing a continuous program of investment management for that portion of the Portfolio allocated to it and for placing all orders for the purchase and sale of securities and other instruments for such portion of the Portfolio. Except as noted, each Specialist Manager earns a fee, accrued daily and paid either monthly or quarterly, based on average daily net assets of that portion of the Portfolio managed.
For the period ended December 31, 2018, the Portfolios incurred the following investment advisory fees, before any applicable fee waivers, with respect to the services of the indicated Specialist Manager(s). The following annual fee rates are applied to the portions of the Portfolios that are managed by the Specialist Managers in determining amounts earned, except as footnoted.
Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | 84 | 0.075 | %(a)† | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | — | 0.04 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | — | 0.065 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(U.S. Multi-Factor Strategy) | — | 0.08 | %(b)(c) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 13 | 0.13 | %(d) | |||||
Parametric Portfolio Associates, LLC (Defensive Strategy) | — | 0.35 | %(c)(e) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | 147 | 0.09 | %(g) | |||||
|
|
|
| |||||
Total | $ | 244 | 0.08 | % | ||||
|
|
|
|
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Institutional Value Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | 111 | 0.070 | %(a)† | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | 168 | 0.063 | %(b) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | — | 0.065 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(U.S. Multi-Factor Strategy) | — | 0.08 | %(b)(c) | |||||
Pacific Investment Management Company, LLC (RAFI U.S. Multi-Factor Strategy) | 11 | 0.175 | %(h) | |||||
Pacific Investment Management Company, LLC (Stock Plus) | — | 0.25 | %(c) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 18 | 0.12 | %(d) | |||||
Parametric Portfolio Associates, LLC (Defensive Strategy) | — | 0.35 | %(c)(e) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 308 | 0.06 | % | ||||
|
|
|
|
Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.065 | %(a)(c) | ||||
Jennison Associates, LLC | 266 | 0.26 | %(i) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | — | 0.040 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | 59 | 0.065 | %(b)† | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(U.S. Multi-Factor Strategy) | — | 0.08 | %(b)(c) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 10 | 0.16 | %(d) | |||||
Parametric Portfolio Associates, LLC (Defensive Strategy) | — | 0.35 | %(c)(e) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | 189 | 0.09 | %(g) | |||||
|
|
|
| |||||
Total | $ | 524 | 0.13 | % | ||||
|
|
|
|
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Institutional Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.065 | %(a)(c) | ||||
Jennison Associates, LLC | 362 | 0.26 | %(i) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | 167 | 0.040 | %(b) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | — | 0.065 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(U.S. Multi-Factor Strategy) | 118 | 0.08 | %(b) | |||||
Pacific Investment Management Company, LLC (RAFI U.S. Multi-Factor Strategy) | — | 0.175 | %(c)(h) | |||||
Pacific Investment Management Company, LLC (Stock Plus) | — | 0.25 | %(c) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 13 | 0.13 | %(d) | |||||
Parametric Portfolio Associates, LLC (Defensive Strategy) | — | 0.35 | %(c)(e) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 660 | 0.11 | % | ||||
|
|
|
|
Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Advisory Research, Inc. | $ | 79 | 0.85 | % | ||||
Ariel Investments, LLC | 37 | 1.00 | %(j) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(a)(c) | |||||
Frontier Capital Management Company, LLC | 90 | 0.45 | %(k) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | — | 0.04 | %(b)(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | — | 0.065 | %(b)(c) | |||||
Pzena Investment Management, LLC | 41 | 1.00 | % | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 7 | 0.31 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | 12 | 0.09 | %(g) | |||||
|
|
|
| |||||
Total | $ | 266 | 0.51 | % | ||||
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Institutional Small Cap–Mid Cap Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Advisory Research, Inc. | $ | 126 | 0.85 | % | ||||
Ariel Investments, LLC | — | 1.00 | %(c)(j) | |||||
Cadence Capital Management, LLC | — | 0.065 | %(a)(c) | |||||
Frontier Capital Management Company, LLC | 126 | 0.45 | %(k) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Index Strategy) | 18 | 0.062 | %(b) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation)(Factor Strategy) | — | 0.065 | %(b)(c) | |||||
Pzena Investment Management, LLC | 45 | 1.00 | % | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 7 | 0.37 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 322 | 0.42 | % | ||||
|
|
|
|
Real Estate Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.10 | %(c)(l) | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | — | 0.10 | %(c)(m) | |||||
Wellington Management Company, LLP | 392 | 0.70 | %(n) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 10 | 0.17 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 402 | 0.65 | % | ||||
|
|
|
|
Commodity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Cadence Capital Management, LLC | $ | — | 0.10 | %(c)(l) | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | 264 | 0.10 | %(m) | |||||
Pacific Investment Management Company, LLC | — | 0.25 | %(c) | |||||
Vaughan Nelson Investment Management, L.P. | 9 | 0.34 | %(o)† | |||||
Wellington Management Company, LLP (Global National Resources Strategy) | 518 | 0.65 | %(p)† | |||||
Wellington Management Company, LLP (Commodity Futures Strategy) | 88 | 0.75 | %(q) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 38 | 0.10 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | — | 0.09 | %(c)(g) | |||||
|
|
|
| |||||
Total | $ | 917 | 0.23 | % | ||||
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ESG Growth Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | — | 0.12 | %(c) | ||||
Cadence Capital Management, LLC | 2 | 0.14 | %(r) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | 125 | 0.16 | %(s) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 7 | 0.85 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 134 | 0.17 | % | ||||
|
|
|
|
Catholic SRI Growth Portfolio
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | — | 0.12 | %(c) | ||||
Cadence Capital Management, LLC | 1 | 0.14 | %(r) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | 35 | 0.16 | %(s) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | — | 0.15 | %(c)(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
|
|
|
| |||||
Total | $ | 36 | 0.16 | % | ||||
|
|
|
|
International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 550 | 0.63 | %(t) | ||||
Cadence Capital Management, LLC (Emerging Markets Strategy) | — | 0.13 | %(c)(u) | |||||
Cadence Capital Management, LLC (Developed Markets Strategy) | 263 | 0.10 | %(v) | |||||
Causeway Capital Management, LLC | 986 | 0.45 | % | |||||
City of London Investment Management Company, Ltd. | — | 0.62 | %(c)(w) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Developed Markets Strategy) | — | 0.10 | %(c)(x) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Emerging Markets Strategy) | — | 0.13 | %(c)(y) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 18 | 0.11 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | 6 | 0.81 | %(f)† | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | — | 0.09 | %(c)(g) | |||||
|
|
|
| |||||
Total | $ | 1,823 | 0.31 | % | ||||
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Institutional International Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Artisan Partners Limited Partnership | $ | 692 | 0.63 | %(t) | ||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(u) | |||||
Cadence Capital Management, LLC | 578 | 0.10 | %(v) | |||||
Causeway Capital Management, LLC | 1,093 | 0.45 | % | |||||
City of London Investment Management Company, Ltd. | 284 | 0.62 | %(w) | |||||
Lazard Asset Management LLC | 492 | 0.36 | %(z) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Developed Markets Strategy) | — | 0.10 | %(c)(x) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Emerging Markets Strategy) | — | 0.13 | %(c)(y) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 16 | 0.12 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | 5 | 0.16 | %(f)† | |||||
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Total | $ | 3,160 | 0.28 | % | ||||
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Emerging Markets Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Investments Corporation(formerly The Boston Company Asset Management, LLC) | $ | 1,973 | 0.61 | %(aa) | ||||
Cadence Capital Management, LLC | — | 0.13 | %(c)(u) | |||||
City of London Investment Management Company, Ltd. | — | 1.00 | %(c)(bb) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | 381 | 0.13 | %(cc) | |||||
RBC Global Asset Management (UK) Limited | 1,185 | 0.68 | %(dd) | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 16 | 0.12 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | — | 0.05 | %(c)(f) | |||||
Parametric Portfolio Associates, LLC (Tax-Managed Custom Strategy) | — | 0.09 | %(c)(g) | |||||
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Total | $ | 3,555 | 0.44 | % | ||||
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Core Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | 10 | 0.08 | % | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Corporate Strategy) | 7 | 0.06 | %(ee) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (Mortgage and Asset-Backed Strategy) | 5 | 0.15 | %(ff) | |||||
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Total | $ | 22 | 0.07 | % | ||||
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Fixed Opportunity Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Fort Washington Investment Advisors, Inc. | $ | 450 | 0.20 | %(gg) | ||||
City of London Investment Management Company, Ltd. | — | 0.45 | %(c) | |||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | — | 0.25 | %(c) | |||||
Western Asset Management Company, Ltd. | 635 | 0.75 | % | |||||
Parametric Portfolio Associates, LLC (Liquidity Strategy) | 12 | 0.15 | %(d) | |||||
Parametric Portfolio Associates, LLC (Targeted Strategy) | 16 | 0.09 | %(f) | |||||
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Total | $ | 1,113 | 0.33 | % | ||||
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U.S. Government Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | $ | 74 | 0.06 | % | ||||
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Inflation Protected Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | $ | 78 | 0.04 | %(hh) | ||||
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U.S. Corporate Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Agincourt Capital Management, LLC | $ | 114 | 0.08 | % | ||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | — | 0.15 | %(c) | |||||
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Total | $ | 114 | 0.08 | % | ||||
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U.S. Mortgage/Asset Backed Fixed Income Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) | $ | 61 | 0.06 | % | ||||
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Short-Term Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 55 | 0.125 | % | ||||
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Intermediate Municipal Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Mellon Investments Corporation(formerly Standish Mellon Asset Management Company LLC) | $ | 296 | 0.17 | %(ii) | ||||
City of London Investment Management Company, Ltd. | 64 | 0.45 | %(jj) | |||||
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Total | $ | 360 | 0.19 | % | ||||
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Intermediate Municipal II Portfolio:
Specialist Manager | Amount Earned (000) | Fee | ||||||
Breckinridge Capital Advisors, Inc. | $ | 48 | 0.125 | % | ||||
City of London Investment Management Company, Ltd. | — | 0.45 | %(c)(kk) | |||||
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Total | $ | 48 | 0.125 | % | ||||
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† | As of December 31, 2018, no assets were allocated. |
(a) | Cadence Capital Management, LLC (“Cadence”) receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of that portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.075% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence using these strategies in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(b) | Mellon Investments Corporation (formerly BNY Mellon Asset Management North America Corporation) (“Mellon”), receives a fee for assets allocated to an Index Strategy, for so long as the Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.04% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawals or redemptions reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.65%. Index Strategy shall mean a portfolio wherein the Portfolio Manager seeks to approximate, over the long term, the performance of a specific market index. |
For assets allocated to a Factor Strategy, for so long as the Combined Assets are greater than $2 billion, the fee shall be at the annual rate of 0.065% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawal or redemption reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.075%. Factor Strategy shall mean a portfolio wherein the Portfolio Manager seeks to implement a strategy developed by Hirtle Callaghan & Co. or an affiliate with the objective of obtaining exposure to one or more factors such as value or quality within the U.S. equity markets.
For assets allocated to a U.S. Multi-Factor Strategy, for so long as the Combined Assets are greater than $2 billion, the fee shall be at the annual rate of 0.08% of the average daily net assets of the Account. If the Combined Assets are reduced to $2 billion or less due to withdrawals or redemptions, beginning with the start of the first calendar year following the date on which such withdrawal or redemption reduced such Combined Assets to $2 billion or less, the fee shall be calculated based on average daily net assets of the Account at annual rate of 0.10%. U.S. Multi-Factor Strategy shall mean a portfolio wherein the Portfolio Manager seeks to implement a proprietary strategy developed by the Portfolio Manager that seeks to obtain a targeted exposure to multi-factor equity model factors such as value, momentum, and low volatility within the U.S. equity markets.
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
Prior to December 12, 2018, Mellon received a fee, which was calculated daily and payable monthly in arrears. For so long as Combined Assets were greater than $2 billion, the fee was at the annual rate of 0.065% of the average daily net assets of that portion of the Portfolio managed by Mellon. If the Combined Assets were reduced to $2 billion or less due to redemptions, the fee was calculated at the annual rate of 0.075% beginning in the following calendar year.
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon using these strategies in other investment advisory accounts for which HC Capital Solutions serves as investment adviser.
(c) | Specialist Manager approved by the Board but a strategy to which no assets were allocated during the period ended December 31, 2018. |
(d) | With respect to its Liquidity Strategy, Parametric Portfolio Associates, LLC (“Parametric”) receives a fee, which shall be calculated daily and payable monthly in arrears, at an annual rate of 0.15% of the first $50 million of the Combined Liquidity Assets (as defined below); 0.10% of the next $100 million of Combined Liquidity Assets; and 0.05% of Combined Liquidity Assets over $150 million. Parametric is also entitled to receive a flat fee of $10,000 per year for each Portfolio. 1/12 of such fee will be waived with respect to each calendar month during which no Portfolio assets were allocated to that Portfolio. |
“Combined Liquidity Assets” shall mean the sum of: the net assets of that portion of each Portfolio managed by Parametric for investment in its Liquidity Strategy.
(e) | With respect to its Defensive Strategy, Parametric receives a fee, which shall be calculated daily and payable monthly in arrears, at an annual rate of 0.35% of the first $50 million of the Combined Defensive Assets (as defined below) and 0.25% of Combined Defensive Assets over $50 million. |
“Combined Defensive Assets” shall mean the sum of: the net assets of that portion of the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, and Institutional Growth Portfolio managed by Parametric for investment in its Defensive Strategy.
(f) | With respect to its Targeted Strategy, Parametric receives a fee, which shall be calculated daily and payable in arrears at the rate of 0.05%. Parametric is also entitled to receive a flat fee of $5,000 per year for each Portfolio, provided that such fee will be waived with respect to each calendar year during which no Portfolio assets were allocated to that Portfolio. |
(g) | With respect to itsTax-Managed Custom Strategy, Parametric receives a fee, which shall be calculated daily and payable in arrears at the annual rate of 0.10% of the first $250 million of the CombinedTax-Managed Custom Strategy Assets; 0.09% of the next $250 million of the CombinedTax-Managed Custom Strategy Assets; 0.08% of the next $500 million of the CombinedTax-Managed Custom Strategy Assets; and 0.07% of the CombinedTax-Managed Custom Strategy Assets over $1 billion. |
“CombinedTax-Managed Custom Strategy Assets” shall man the sum of: the net assets of that portion of each of the other Portfolio of the Trust allocated to Parametric from time to time for investment in theirTax-Management Custom Core Strategy.
If, at the close of business on September 30, 2019, the CombinedTax-Managed Custom Strategy Assets are less than $500 million, the fee for the first $250 million shall be permanently increased to 0.13%.
(h) | For its services with respect to the RAFI U.S. Multi-Factor Strategy, Pacific Investment Management Company, LLC (“PIMCO”) receives an annual fee from each Portfolio at the annual rate of 0.175% of the first $600 million of the Combined RAFI U.S. Multi-Factor Strategy Assets (as defined below); 0.15% on the next $700 million of Combined RAFI U.S. Multi-Factor Strategy Assets; and 0.125% on Combined RAFI U.S. Multi-Factor Strategy Assets over $1.3 billion. Should these assets fall below $600 million, PIMCO’s fee will be calculated at an annual rate of 0.20%; however, for the twelve months’ period ending December 12, 2019, this fee for the minimum asset requirement is contractually reduced to 0.175% of each Portfolio’s average daily net assets of the Account. Fees are payable monthly in arrears and are computed based on the combined market value of the Combined Assets as reported on the custodian’s statement at the end of the billing period. |
Combined RAFI U.S. Multi-Factor Strategy Assets shall mean the sum: the net assets in Institutional Value and the net assets of Institutional Growth of the Trust managed by PIMCO using the PIMCO RAFI Dynamic Multi-Factor U.S. Equity Strategy.
The Trust hereby acknowledges and agrees that PIMCO utilized the services of Parametric as the accountsub-advisor to assist with the implementation of the Account’s investment strategy. The fees contracted between PIMCO and Parametric are not reflected in these financial statements.
(i) | Jennison Associates LLC (“Jennison”) is entitled to receive an annual fee of no more than 0.30% of average daily net assets of that portion of the Growth Portfolio and Institutional Growth Portfolio allocated to Jennison (the “Jennison Accounts”). While the rate at which Jennison’s fee for managing the Portfolios will not exceed 0.30%, the fee may decrease based on the aggregate market value of the Jennison Accounts and certain other assets managed by Jennison (which may pay fees exceeding 0.30%) for the benefit of certain investors who are clients of the Trust’s primary adviser at the following annual rates: |
— 0.75% on the first $10 million;
— 0.50% on the next $30 million;
— 0.35% on the next $25 million;
— 0.25% on the next $335 million;
— 0.22% on the next $600 million;
— 0.20% on the next $4 billion; and
— 0.25% on the balance
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Notes to Financial Statements (continued) — December 31, 2018 (Unaudited)
(j) | For its services to the Small Cap–Mid Cap Portfolio and the Institutional Small Cap–Mid Cap Portfolio, Ariel Investments, LLC (“Ariel”) receives an annual fee, calculated daily and payable quarterly, in arrears, based on the Combined Assets (as defined below), in accordance with the following schedule: 1.00% of the first $10 million of the Combined Assets, 0.75% of the next $10 million of Combined Assets, and 0.50% of the Combined Assets exceeding $20 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Ariel in the Small Cap–Mid Cap Portfolio, the Institutional Small Cap–Mid Cap Portfolio and the net assets invested in the same strategy as the Portfolios that are managed by Ariel for certain other clients of the Trust’s primary adviser or certain of its affiliates.
(k) | Frontier Capital Management Company, LLC (“Frontier”) receives a fee, which shall be calculated daily and payable monthly, at an annual rate of 0.45% of the first $90 million of Combined Assets (as defined below) and 0.75% of Combined Assets exceeding $90 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Frontier in the Small Cap–Mid Cap Portfolio, the net assets managed by Frontier in the Institutional Small Cap–Mid Cap Portfolio, and the net assets invested in the same strategy as the Portfolios that are managed by Frontier for certain other clients of the Trust’s primary adviser.
(l) | Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio managed by Cadence. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(m) | Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio managed by Mellon. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(n) | Wellington Management Company, LLP (“Wellington”) receives a fee, which shall be payable monthly in arrears of 0.75% of the average daily net assets of the first $50 million of the Combined Assets (as defined below). On Combined Assets over $50 million, the fee shall be at the annual rate of 0.65% of the Combined Assets. |
“Combined Assets” shall mean the sum of: the net assets of the Real Estate Portfolio and assets invested in the same investment strategy as the Portfolio that are managed by Wellington for certain other clients of the Trust’s primary adviser.
(o) | Vaughan Nelson Investment Management L.P. (“Vaughan Nelson”) received a fee, which was calculated daily and payable quarterly, at the annual rate of 0.35% of the first $25 million of Combined Assets (as defined below), 0.25% of the next $75 million of Combined Assets, and 0.20% of the Combined Assets exceeding $100 million. |
“Combined Assets” shall mean the sum of: the net assets of the Commodity Portfolio and the net assets managed by Vaughan Nelson in other investment advisory accounts for which HC Capital Solutions serves as investment adviser.
(p) | With respect to its Global National Resources Strategy (“GNRS”), Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.60% of the average daily net assets of the GNRS account, so long as at least $150 million in assets are present in the GNRS and 0.85% if less than $150 million in assets are present in the GNRS. Effective November 1, 2017 through October 31, 2018, Wellington voluntarily waived fees in excess of 0.25% of the average daily net assets in the Portfolio. |
(q) | With respect to its Commodity Futures Strategy account, Wellington is entitled to receive a fee, which shall be payable monthly in arrears at the annual rate of 0.75% of the average daily net assets of the Commodity Futures Strategy account. |
(r) | For its services to the Portfolio, Cadence received a fee calculated based on the average daily net assets of that portion of the assets of the Portfolio managed by it based on the asset class in which assets of the account are invested, as set forth below. In each case, the annual rate set forth was applied to the average daily net assets of that portion of the assets allocated to the designated asset class (“Designated Assets”). |
Domestic Large Cap Equity Securities at the rate of 0.09% of the net asset value of Designated Assets; Domestic Small and Mid Cap Equity Securities at the rate of 0.12% of the net asset value of Designated Assets; Developed Markets International Equity Securities at the rate of 0.14% of the net asset value of Designated Assets; and Emerging Markets International Equity Securities at the rate of 0.18% of the net asset value of Designated Assets.
Cadence’s Portfolio Management Agreements with the Portfolios were terminated on July 6, 2018.
(s) | Mellon is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.16% of the average daily net assets of the Account. |
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(t) | Artisan Partners Limited Partnership (“Artisan”) receives a fee, which shall be payable monthly in arrears. For so long as the Combined Assets (as defined below) are greater than $500 million, the fee shall be at the annual rate of 0.47% of the average daily net assets of the Portfolios. If the Combined Assets are reduced to $500 million or less, the fee shall be calculated based on average daily net assets of the Portfolios at the following annual rates: |
— 0.80% on assets up to $50 million; and
— 0.60% on assets in excess of $50 million
“Combined Assets” shall mean the sum of: the net assets of the International Portfolio managed by Artisan and the net assets of the Institutional International Portfolio managed by Artisan.
(u) | With respect to the emerging markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(v) | With respect to the developed markets portion of the Portfolio managed by Cadence, Cadence receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Cadence in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Cadence in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(w) | City of London Investment Management Company, Ltd. (“CLIM”) receives a fee, which shall be calculated daily and payable monthly in arrears at the annual rate of 0.80% of the first $50 million of the Combined Assets (as defined below) and 0.40% of the Combined assets exceeding $50 million. |
“Combined Assets” shall mean the sum of: the net assets managed by CLIM in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by CLIM for certain other clients of the Trust’s primary adviser.
(x) | With respect to the developed markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.10% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.11% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or certain of its affiliates serves as investment adviser.
(y) | With respect to the emerging markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or one of its affiliates serves as investment adviser.
(z) | Lazard Asset Management, LLC (“Lazard”) receives a fee which shall be payable monthly in arrears at the annual rate of 0.40% of the average daily net assets of the first $75 million and 0.35% on the excess over $75 million of that portion of the Portfolio managed by Lazard. |
(aa) | Mellon Corporation (formerly The Boston Company Asset Management, LLC) (“Mellon-Boston”) receives an annual fee of 0.90% of the average daily net assets of the first $50 million; 0.85% of the average daily net assets on the next $50 million; 0.70% of the average daily net assets on the next $100 million; 0.55% of the average daily net assets on the next $200 million; and 0.50% of the average daily net assets over $400 million of that portion of the Portfolio managed by Mellon Boston. |
(bb) | CLIM receives a fee, which shall be calculated daily and payable quarterly in arrears at the annual rate of 1.00% of the first $100 million of the Combined Assets (as defined below); 0.80% of the next $100 million of the Combined Assets; and 0.50% of the Combined Assets exceeding $200 million. |
“Combined Assets” shall mean the sum of: the net assets managed by CLIM in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by CLIM for certain other clients of the Trust’s primary adviser.
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(cc) | With respect to the emerging markets portion of the Portfolio managed by Mellon, Mellon receives a fee, which shall be calculated daily and payable monthly in arrears. For so long as Combined Assets (as defined below) are greater than $2 billion, the fee shall be at the annual rate of 0.13% of the average daily net assets of that portion of the Portfolio. If the Combined Assets are reduced to $2 billion or less due to redemptions, the fee shall be calculated at the annual rate of 0.15% beginning in the following calendar year. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon in the Value Portfolio, Institutional Value Portfolio, Growth Portfolio, Institutional Growth Portfolio, Small Cap–Mid Cap Portfolio, Institutional Small Cap–Mid Cap Portfolio, Real Estate Portfolio, Commodity Portfolio, International Portfolio, Institutional International Portfolio, Emerging Markets Portfolio, and the net assets managed by Mellon in other investment advisory accounts for which HC Capital Solutions or one of its affiliates serves as investment adviser.
(dd) | RBC Global Asset Management (U.K.) Limited receives a fee which shall be payable quarterly in arrears at the annual rate of 0.80% of the first $100 million of Combined Assets; 0.65% of the next $150 million of Combined Assets; and 0.60% of Combined Assets in excess of $250 million. |
“Combined Assets” shall mean the sum of (i) the net assets of the Account; and (ii) the net assets of each other investment advisory account for which Hirtle Callaghan & Co serves as investment adviser and for which Portfolio Manager provides portfolio management services (“Other Hirtle Accounts”) using the same strategies as employed for the Account.
(ee) | Mellon receives a fee which shall be calculated daily and payable monthly at the annual rate of 0.06% of the average daily net assets of the U.S. mortgage- and asset-backed and U.S. Government securities portions of the Core Fixed Income Portfolio managed by Mellon. Mellon also receives a fee at the annual rate of 0.06% of the average daily net assets of the U.S. Government Fixed Income Portfolio and the U.S. Mortgage/Asset Backed Fixed Income Portfolio. |
(ff) | Mellon receives a fee which shall be calculated daily and payable monthly at the annual rate of 0.15% of the average daily net assets of the corporate securities portions of the Core Fixed Income Portfolio and U.S. Corporate Fixed Income Portfolio managed by Mellon. |
(gg) | Fort Washington Investment Advisors, Inc. (“Fort Washington”) receives a fee, which shall be payable quarterly in arrears. For so long as the Combined Assets (as defined below) are greater than $200 million, the fee shall be at the annual rate of 0.20% of the Combined Assets. If the Combined Assets are reduced to $200 million or less due to withdrawals or redemptions, beginning with the first calendar quarter following the date of such withdrawals or redemptions, the fee shall be based on 0.40% of the Combined Assets of the first $25 million, 0.375% of the Combined Assets of the next $25 million, 0.3375% of the Combined Assets of the next $50 million, 0.25% of the Combined Assets of the next $100 million, and 0.20% of the Combined Assets exceeding $200 million. |
“Combined Assets” shall mean the sum of: the net assets managed by Fort Washington in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Fort Washington for the benefit of certain investors who are clients of the Trust’s primary adviser.
(hh) | Mellon receives a fee, which shall be payable monthly in arrears, at the annual rate of: 0.04% of the average daily net assets invested according to a domestic inflation-protected securities strategy; 0.07% of the average daily net assets invested according to a global inflation-protected securities strategy; and 0.13% of the average daily net assets invested according to an emerging-markets inflation-protected securities strategy. |
(ii) | Mellon Investments Corporation (formerly Standish Mellon Asset Management Company, LLC) (“Mellon-Standish”) receives a fee, which shall be calculated daily and payable quarterly, at an annual rate of 0.25% for the first $100 million of the Combined Assets (as defined below) and 0.15% of the Combined Assets exceeding $100 million. Mellon-Standish is entitled to receive a fee at an annual rate not to exceed 0.20% of the Combined Assets. |
“Combined Assets” shall mean the sum of: the net assets managed by Mellon-Standish in the Portfolio and the net assets invested in the same strategy as the Portfolio that are managed by Mellon-Standish for the benefit of certain investors who are clients of the Trust’s primary adviser.
(jj) | CLIM is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.45% of the average daily net assets of the Account. Prior to July 27, 2018, CLIM was entitled to receive a fee based on the average net assets of that portion of each affected Portfolio’s assets allocated to CLIM by the Adviser, at the following rates; 0.25% of the first $100 million of the Combined Assets; 0.15% of the Combined Assets (as defined below) exceeding $100 million. |
“Combined Assets” shall mean the sum of all assets managed in this strategy for clients of the Trust’s primary adviser and certain of its affiliates. The maximum fee is 0.20% regardless of asset levels.
(kk) | CLIM is entitled to receive a fee, which is payable monthly in arrears at the annual rate of 0.45% of the average daily net assets of the Account. Prior to July 27, 2018, CLIM was entitled to receive a fee, which fee shall be payable monthly in arrears at the annual rate of 0.125% of the average daily net assets of the Account. |
Pursuant to discretionary investment advisory agreements between the Trust and the Adviser, the Adviser is paid a fee which is accrued daily and paid monthly at an annual rate of 0.05% of average daily net assets per Portfolio. The fees that the Adviser receives are listed as “Management fees” on the Statements of Operations. The Adviser continuously monitors the performance of various investment management organizations, including the Specialist Managers retained by the Trust, and generally oversees the services provided to the Trust by its administrator, custodian and other service providers. The Adviser is also authorized to allocate and reallocate assets among Specialist Managers in multi-manager portfolios of the Trust from time to time without additional authorization of the Board. In addition, the Adviser makes its officers available to serve as officers and/or Trustees of the Trust, and maintains office space sufficient for the Trust’s principal office. The Securities and Exchange Commission has issued an order that permits the Trust to enter into portfolio management agreements with Specialist Managers upon the approval of the Board but without submitting such contracts for the approval of the shareholders of the relevant Portfolio under certain circumstances.
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Citi Fund Services Ohio, Inc. (“Citi”) provides the Portfolios with administrative and fund accounting services. The fees for these services are disclosed as “Administrative service fees” on the Statements of Operations. The fees are accrued daily and payable on a monthly basis at an annual rate of 0.0506% of the Trust’s Portfolios’ average daily net assets up to $6 billion; 0.0047% of the Trust’s Portfolios’ average daily net assets between $6 billion and $12 billion; and 0.0276% of average daily net assets in excess of $12 billion. Citi receives additional fees paid by the Trust for compliance services, regulatory reporting services and reimbursement of certain expenses.
FIS Investor Services LLC, a wholly-owned subsidiary of Fidelity National Information Services, provides dividend and capital gains disbursing agent and transfer agency services. The fees for these services are disclosed as “Transfer agency fees” on the Statements of Operations. The fees are accrued daily and payable on a monthly basis at an annual rate of 0.0034% of the Trust’s Portfolios’ average daily net assets up to $6 billion; 0.0003% of the Trust’s Portfolios’ average daily net assets between $6 billion and $12 billion; and 0.0019% of average daily net assets in excess of $12 billion.
The Trust has adopted a Distribution Plan for the HC Advisors Shares under which the Adviser may receive compensation for distribution services. Under the Distribution Plan, which was adopted pursuant to Rule12b-1 under the 1940 Act, the Adviser is entitled to receive a fee of up to 0.25% annually of the average daily net assets attributable to the HC Advisors Shares. Currently, the Adviser is voluntarily waiving all fees associated with the Distribution Plan, and there is no current intention to collect such a fee.
Unified Financial Securities, LLC (“Unified”), a wholly-owned subsidiary of Ultimus Fund Solutions LLC, provides certain distribution services to the Trust. Unified receives an annual fee of $50,000 for performing the services listed under its agreement with the Trust. None of Unified’s duties under its agreement are primarily intended to result in the sale of Trust shares.
Alaric Compliance Services, LLC (“Alaric”) provides an employee to serve as the Trust’s Chief Compliance Officer. Alaric receives an annual fee of $160,000 for performing the services listed under its agreement with the Trust and was compensated $80,000 for the period ended December 31, 2018.
The Portfolios may use related party broker-dealers. For the period ended December 31, 2018, the following Portfolio incurred brokerage commissions with broker-dealers affiliated with the Specialist Managers as follows:
Portfolio | Commissions Amount (000) | |||
Emerging Markets Portfolio | $ | 12 |
4. PURCHASE AND SALE TRANSACTIONS. The aggregate cost of purchases and proceeds from sales of investment securities, other than long-term U.S. government securities, TBA securities and short-term securities, for the period ended December 31, 2018 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Value Portfolio | $ | 314,592 | $ | 316,755 | ||||
Institutional Value Portfolio | 334,217 | 242,905 | ||||||
Growth Portfolio | 180,032 | 230,555 | ||||||
Institutional Growth Portfolio | 346,282 | 328,606 | ||||||
Small Cap–Mid Cap Portfolio | 40,063 | 43,311 | ||||||
Institutional Small Cap–Mid Cap Portfolio | 36,729 | 38,597 | ||||||
Real Estate Portfolio | 27,120 | 25,766 | ||||||
Commodity Portfolio | 41,647 | 409,654 | ||||||
ESG Growth Portfolio | 78,430 | 98,510 | ||||||
Catholic SRI Growth Portfolio | 37,035 | 20,308 | ||||||
International Portfolio | 414,412 | 398,654 | ||||||
Institutional International Portfolio | 433,568 | 460,476 | ||||||
Emerging Markets Portfolio | 450,775 | 454,478 | ||||||
Core Fixed Income Portfolio | 6,084 | 7,026 | ||||||
Fixed Opportunity Portfolio | 129,808 | 174,815 | ||||||
U.S. Corporate Fixed Income Portfolio | 46,218 | 33,872 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 1,973 | 1,748 | ||||||
Short-Term Municipal Portfolio | 17,890 | 4,900 | ||||||
Intermediate Municipal Portfolio | 63,633 | 62,961 | ||||||
Intermediate Municipal II Portfolio | 5,400 | 5,706 |
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The aggregate cost of purchases and proceeds from sales of long-term U.S. government securities for the period ended December 31, 2018 were as follows (amounts in thousands):
Portfolio | Purchases | Sales | ||||||
Core Fixed Income Portfolio | $ | 7,354 | $ | 8,869 | ||||
Fixed Opportunity Portfolio | 4,448 | — | ||||||
U.S. Government Fixed Income Portfolio | 83,364 | 41,351 | ||||||
Inflation Protected Portfolio | 37,562 | 44,852 | ||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 18,441 | 11,300 |
5. FEDERAL INCOME TAXES. It is the policy of each Portfolio to continue to qualify as a regulated investment company by complying with the provisions available to certain investment companies, as defined in applicable sections of the Internal Revenue Code (the “Code”), and to make distributions of net investment income and net realized capital gains sufficient to relieve it (but not the shareholders) from all, or substantially all, federal income taxes. The Portfolios may, under certain circumstances, utilize equalization accounting for tax purposes by designating earnings and profits, including net realized gains distributed to shareholders on redemption of shares, as a part of the dividends paid deduction for income tax purposes.
The Trust has evaluated tax positions taken or expected to be taken in the course of preparing each Portfolio’s tax returns to determine whether it is more likely than not (i.e., greater than50-percent chance) that each tax position will be sustained upon examination by a tax authority based on the technical merits of the position. A tax position that meets themore-likely-than-not recognition threshold is measured to determine the amount of benefit to recognize in the financial statements. Differences between tax positions taken in a tax return and amounts recognized in the financial statements will generally result in an increase in a liability for taxes payable (or a reduction of a tax refund receivable), including the recognition of any related interest and penalties as an operating expense. Tax positions taken in tax years remain subject to examination by tax authorities (generally the last three tax year ends 2016 to 2018 and the interim tax period since then). The determination has been made that there are no uncertain tax positions that would require the Portfolios to record a tax liability and, therefore, there is no impact to the Portfolios’ financial statements. Furthermore, management of the Portfolios is not aware of any tax position for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next 12 months.
A. Unrealized Appreciation/Depreciation on investments (amounts in thousands):
Portfolio | Tax Cost of Investments | Tax Unrealized Appreciation | Tax Unrealized (Depreciation) | Net Tax Unrealized Appreciation/ (Depreciation) | ||||||||||||
Value Portfolio | $ | 455,927 | $ | 76,523 | $ | (19,481 | ) | $ | 57,042 | |||||||
Institutional Value Portfolio | 915,990 | 76,375 | (70,693 | ) | 5,682 | |||||||||||
Growth Portfolio | 420,356 | 294,373 | (12,660 | ) | 281,713 | |||||||||||
Institutional Growth Portfolio | 936,098 | 269,788 | (49,217 | ) | 220,571 | |||||||||||
Small CapMid-Cap Portfolio | 72,354 | 21,729 | (10,458 | ) | 11,271 | |||||||||||
Institutional SmallCap-Mid Cap Portfolio | 133,247 | 24,665 | (22,089 | ) | 2,576 | |||||||||||
Real Estate Portfolio | 108,181 | 14,006 | (2,606 | ) | 11,400 | |||||||||||
ESG Growth Portfolio | 130,029 | 13,487 | (12,750 | ) | 737 | |||||||||||
Catholic SRI Growth Portfolio | 42,597 | 2,572 | (3,918 | ) | (1,346 | ) | ||||||||||
International Portfolio | 973,682 | 92,669 | (103,162 | ) | (10,493 | ) | ||||||||||
Institutional International Portfolio | 2,109,699 | 155,572 | (276,327 | ) | (120,755 | ) | ||||||||||
Emerging Markets Portfolio | 1,549,012 | 139,912 | (199,060 | ) | (59,148 | ) | ||||||||||
Core Fixed Income Portfolio | 69,331 | 306 | (1,456 | ) | (1,150 | ) | ||||||||||
Fixed Opportunity Portfolio | 659,196 | 17,599 | (32,655 | ) | (15,056 | ) | ||||||||||
U.S. Government Fixed Income Portfolio | 277,998 | 2,513 | (3,327 | ) | (814 | ) | ||||||||||
Inflation Protected Portfolio | 381,258 | 143 | (9,286 | ) | (9,143 | ) | ||||||||||
U.S. Corporate Fixed Income Portfolio | 289,566 | 408 | (9,677 | ) | (9,269 | ) | ||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 231,389 | 796 | (3,572 | ) | (2,776 | ) | ||||||||||
Short-Term Municipal Portfolio | 91,788 | 209 | (109 | ) | 100 | |||||||||||
Intermediate Municipal Portfolio | 387,243 | 2,029 | (8,983 | ) | (6,954 | ) | ||||||||||
Intermediate Municipal II Portfolio | 76,318 | 1,049 | (283 | ) | 766 |
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The tax cost of investments includes the cost of securities, proceeds received from TBA sales commitments and any upfront premiums paid or received on derivatives, as applicable. The tax unrealized appreciation/depreciation includes securities, TBA sales commitments and derivatives that are not considered realized for tax purposes, as applicable.
The differences between book-basis andtax-basis unrealized appreciation/depreciation are attributable primarily to: tax deferral of losses on wash sales, the realization for tax purposes of unrealized gains/losses on investments in passive foreign investment companies, the difference between book and tax accretion methods for market discount, andin-kind purchases by investors that, for tax purposes, created a controlling interest in a Portfolio.
B. Tax Characteristics of Distributions Paid
The tax characteristics of distributions paid during the fiscal year ending June 30, 2018 were as follows (amounts in thousands):
Distributions Paid From: | ||||||||||||||||||||||||||||
Year Ended June 30, 2018 | Ordinary Income | Net Long Term Gains | Total Taxable Distributions | In Excess of Net Investment Income | Total Taxable Distributions | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||||||
Value Portfolio | $ | 19,780 | $ | 21,891 | $ | 41,671 | $ | — | $ | 41,671 | $ | — | $ | 41,671 | ||||||||||||||
Institutional Value Portfolio | 41,677 | 30,659 | 72,336 | — | 72,336 | — | 72,336 | |||||||||||||||||||||
Growth Portfolio | 10,120 | 35,974 | 46,094 | — | 46,094 | — | 46,094 | |||||||||||||||||||||
Institutional Growth Portfolio | 21,304 | 32,991 | 54,295 | — | 54,295 | — | 54,295 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 392 | — | 392 | — | 392 | — | 392 | |||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 1,697 | 12,579 | 14,276 | — | 14,276 | — | 14,276 | |||||||||||||||||||||
Real Estate Portfolio | 1,879 | 3,709 | 5,588 | — | 5,588 | — | 5,588 | |||||||||||||||||||||
ESG Growth Portfolio | 4,367 | — | 4,367 | — | 4,367 | — | 4,367 | |||||||||||||||||||||
Catholic SRI Growth Portfolio | 1,216 | 308 | 1,524 | — | 1,524 | — | 1,524 | |||||||||||||||||||||
International Portfolio | 37,199 | — | 37,199 | — | 37,199 | — | 37,199 | |||||||||||||||||||||
Institutional International Portfolio | 96,184 | — | 96,184 | — | 96,184 | — | 96,184 | |||||||||||||||||||||
Emerging Markets Portfolio | 37,447 | — | 37,447 | 531 | 37,978 | — | 37,978 | |||||||||||||||||||||
Core Fixed Income Portfolio | 1,868 | — | 1,868 | — | 1,868 | — | 1,868 | |||||||||||||||||||||
Fixed Opportunity Portfolio | 37,027 | — | 37,027 | — | 37,027 | — | 37,027 | |||||||||||||||||||||
U.S. Government Fixed Income Portfolio | 3,889 | — | 3,889 | — | 3,889 | — | 3,889 | |||||||||||||||||||||
Inflation Protected Portfolio | 8,494 | — | 8,494 | — | 8,494 | — | 8,494 | |||||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 8,055 | 735 | 8,790 | — | 8,790 | — | 8,790 | |||||||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 5,111 | — | 5,111 | — | 5,111 | — | 5,111 | |||||||||||||||||||||
Short-Term Municipal Portfolio | 42 | — | 42 | — | 42 | 303 | 345 | |||||||||||||||||||||
Intermediate Municipal Portfolio | 130 | — | 130 | — | 130 | 7,477 | 7,607 | |||||||||||||||||||||
Intermediate Municipal II Portfolio | 38 | 3 | 41 | — | 41 | 1,612 | 1,653 |
* | Total distributions paid may differ from what appears in the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. |
Amounts designated as “—” are $0 or have been rounded to $0.
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C. Components of Accumulated Earnings
As of June 30, 2018, the components of accumulated earnings/(deficit) on a tax basis were as follows (amounts in thousands):
Portfolio | Undistributed Ordinary Income/Tax Exempt Income | Undistributed Long Term Capital Gains | Accumulated Earnings | Dividends Payable | Accumulated Capital and Other Losses | Unrealized Appreciation/ (Depreciation) | Total Accumulated Earnings/ (Deficit) | |||||||||||||||||||||
Value Portfolio | $ | 55 | $ | 20,720 | $ | 20,775 | $ | — | $ | (516 | ) | $ | 111,529 | $ | 131,788 | |||||||||||||
Institutional Value Portfolio | 7,668 | 44,002 | 51,670 | — | — | 84,443 | 136,113 | |||||||||||||||||||||
Growth Portfolio | 168 | 33,381 | 33,549 | — | — | 355,387 | 388,936 | |||||||||||||||||||||
Institutional Growth Portfolio | 3,200 | 66,333 | 69,533 | — | — | 430,374 | 499,907 | |||||||||||||||||||||
Small Cap–Mid Cap Portfolio | 10 | 4,435 | 4,445 | — | — | 32,923 | 37,368 | |||||||||||||||||||||
Institutional Small Cap–Mid Cap Portfolio | 4,422 | 22,037 | 26,459 | — | — | 33,525 | 59,984 | |||||||||||||||||||||
Real Estate Portfolio | 564 | 981 | 1,545 | — | — | 19,838 | 21,383 | |||||||||||||||||||||
ESG Growth Portfolio | 344 | 241 | 585 | — | — | 20,011 | 20,596 | |||||||||||||||||||||
Catholic SRI Growth Portfolio | 198 | 515 | 713 | — | — | 5,218 | 5,931 | |||||||||||||||||||||
International Portfolio | 3,071 | — | 3,071 | — | (29,362 | ) | 147,954 | 121,663 | ||||||||||||||||||||
Institutional International Portfolio | 30,164 | 55,682 | 85,846 | — | — | 169,806 | 255,652 | |||||||||||||||||||||
Emerging Markets Portfolio | — | — | — | — | (59,344 | ) | 27,354 | (31,990 | ) | |||||||||||||||||||
Core Fixed Income Portfolio | 68 | — | 68 | (4 | ) | (340 | ) | (1,517 | ) | (1,793 | ) | |||||||||||||||||
Fixed Opportunity Portfolio | 1,805 | — | 1,805 | — | (50,220 | ) | 4,841 | (43,574 | ) | |||||||||||||||||||
U.S. Government Fixed Income Portfolio | 167 | — | 167 | (66 | ) | (467 | ) | (4,223 | ) | (4,589 | ) | |||||||||||||||||
Inflation Protected Portfolio | 3,183 | — | 3,183 | (431 | ) | (781 | ) | (911 | ) | 1,060 | ||||||||||||||||||
U.S. Corporate Fixed Income Portfolio | 357 | — | 357 | (134 | ) | (493 | ) | (7,939 | ) | (8,209 | ) | |||||||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 214 | — | 214 | (85 | ) | (9,781 | ) | (3,818 | ) | (13,470 | ) | |||||||||||||||||
Short-Term Municipal Portfolio | 22 | — | 22 | (2 | ) | (4 | ) | (17 | ) | (1 | ) | |||||||||||||||||
Intermediate Municipal Portfolio | 215 | — | 215 | (40 | ) | (1,100 | ) | (5,827 | ) | (6,752 | ) | |||||||||||||||||
Intermediate Municipal II Portfolio | 46 | 63 | 109 | (10 | ) | — | 514 | 613 |
D. Capital Loss Carryforwards
As of their tax year ended June 30, 2018, the following Portfolios had capital loss carryforwards (“CLCFs”) as summarized below (amounts in thousands):
CLCFs subject to expiration:
Portfolio | Expires 2019 | Total | ||||||
Intermediate Municipal Portfolio | $ | 1,099 | $ | 1,099 |
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CLCFs not subject to expiration:
Portfolio | Short-Term Amount | Long-Term Amount | Total | |||||||||
International Portfolio | $ | 18,057 | $ | 11,305 | $ | 29,362 | ||||||
Emerging Markets Portfolio | — | 55,986 | 55,986 | |||||||||
Core Fixed Income Portfolio | 260 | 80 | 340 | |||||||||
Fixed Opportunity Portfolio | 2,419 | 47,801 | 50,220 | |||||||||
U.S. Government Fixed Income Portfolio | 223 | 244 | 467 | |||||||||
Inflation Protected Portfolio | 637 | 144 | 781 | |||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 2,651 | 7,130 | 9,781 | |||||||||
Short-Term Municipal Portfolio | 2 | 2 | 4 |
CLCFs that are not subject to expiration must be utilized before those that are subject to expiration. During the year ending June 30, 2018, the Portfolios utilized CLCFs as follows (amounts in thousands):
Portfolio | Total | |||
Small Cap–Mid Cap Portfolio | $ | 5,648 | ||
ESG Growth Portfolio | 1,734 | |||
Institutional International Portfolio | 23,216 | |||
Emerging Markets Portfolio | 71,338 | |||
Intermediate Municipal Portfolio | 880 |
E. Deferred Losses
Under current tax law, capital losses and specified ordinary losses realized after October 31 andnon-specified ordinary losses incurred after December 31 (ordinary losses collectively known as “late year ordinary loss”) may be deferred and treated as occurring on the first business day of the following fiscal year. The following Portfolios had deferred losses, which will be treated as arising on the first day of the fiscal year ending June 30, 2019 (amounts in thousands):
Portfolio | Post-October Capital Losses | Late Year Ordinary Losses | ||||||
Value Portfolio | $ | 516 | $ | — | ||||
Emerging Markets Portfolio | 3,358 | — | ||||||
U.S. Corporate Fixed Income Portfolio | 493 | — |
F. Book-To-Tax Differences
Distributions are based on amounts calculated in accordance with applicable federal tax regulations, which may differ from GAAP. To the extent these differences are permanent in nature (e.g., net operating losses, reclassification of bond discount and premium, equalization accounting, treatment of gains and losses relating to foreign currency transactions, distributionre-characterization,in-kind redemptions and differing treatment of income relating to swap agreements), such amounts are reclassified within the capital accounts based on their federaltax-basis treatment; temporary differences do not require reclassifications.
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On the Statements of Assets and Liabilities, as a result of permanentbook-to-tax differences, reclassification adjustments were made as follows (amounts in thousands):
Portfolio | Accumulated Net Investment Income/(Distributions in Excess of Net Investment Income)* | Accumulated Net Realized Gains/(Losses)* | Paid-In Capital | |||||||||
Value Portfolio | $ | 23 | $ | (1,610 | ) | $ | 1,587 | |||||
Institutional Value Portfolio | (71 | ) | 71 | — | ||||||||
Growth Portfolio | (3 | ) | (2,879 | ) | 2,882 | |||||||
Institutional Growth Portfolio | (2 | ) | 2 | — | ||||||||
Small Cap–Mid Cap Portfolio | (4 | ) | 6 | (2 | ) | |||||||
Real Estate Portfolio | 24 | (24 | ) | — | ||||||||
ESG Growth Portfolio | 60 | (60 | ) | — | ||||||||
Catholic SRI Growth Portfolio | 17 | (17 | ) | — | ||||||||
International Portfolio | 461 | (461 | ) | — | ||||||||
Institutional International Portfolio | 10,204 | (9,553 | ) | (651 | ) | |||||||
Emerging Markets Portfolio | (988 | ) | 1,519 | (531 | ) | |||||||
Core Fixed Income Portfolio | 99 | (99 | ) | — | ||||||||
Fixed Opportunity Portfolio | 3 | (3 | ) | — | ||||||||
U.S. Corporate Fixed Income Portfolio | 28 | (28 | ) | — | ||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | 896 | (1,250 | ) | 354 |
* | These components of capital are presented together as “Total distributable earnings/(loss)” on the Statements of Assets and Liabilities. |
G. Commodity Portfolio Tax Information
The Commodity Portfolio has a tax year end of December 31.
The Commodity Portfolio’s tax cost of investments as of December 31, 2018 was $363,180, resulting in accumulated net unrealized appreciation of $31,715, consisting of $54,315 in gross unrealized appreciation and $22,600 in gross unrealized depreciation.
The tax characteristics of distributions paid during the tax years ending December 31, 2018 and December 31, 2017 were as follows (amounts in thousands):
Year Ended December 31, 2018 | Distributions Paid From: | Total Taxable Distributions | Tax Return of Capital | Tax-Exempt Distributions | Total Distributions Paid* | |||||||||||||||||||
Ordinary Income | Net Long Term Gains | |||||||||||||||||||||||
Commodity Portfolio | $ | 22,967 | $ | — | $ | 22,967 | $ | — | $ | — | $ | 22,967 | ||||||||||||
Year Ended December 31, 2017 | ||||||||||||||||||||||||
Commodity Portfolio | $ | 21,235 | $ | — | $ | 21,235 | $ | 171 | $ | — | $ | 21,406 |
* | Total distributions paid may differ from the Statements of Changes in Net Assets because dividends for tax purposes are recognized when actually paid. |
Amounts designated as “—” are $0 or have been rounded to $0.
As of December 31, 2018, the components of accumulated earnings (deficit) on a tax basis were as follows (amounts in thousands):
Portfolio | Undistributed Ordinary Income/Tax Exempt Income | Undistributed Long Term Capital Gains | Accumulated Earnings | Dividends Payable | Accumulated Capital and Other Losses | Unrealized Appreciation/ (Depreciation) | Total Accumulated Earnings/ (Deficit) | |||||||||||||||||||||
Commodity Portfolio | $ | (292 | ) | $ | — | $ | (292 | ) | $ | — | $ | (100,032 | ) | $ | 183,708 | $ | 83,384 |
Amounts designated as “—” are $0 or have been rounded to $0.
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At December 31, 2018, the Commodity Portfolio had the following CLCFs not subject to expiration (amounts in thousands):
Portfolio | Short-Term Amount | Long-Term Amount | Total | |||||||||
Commodity Portfolio | $ | 18,250 | $ | 81,782 | $ | 100,032 |
On the Statement of Assets and Liabilities, as a result of permanent book-to-tax differences, reclassification adjustments were made as follows (amounts in thousands):
Portfolio | Accumulated Net Investment Income/(Distributions in Excess of Net Investment Income)* | Accumulated Net Realized Gains/(Losses)* | Paid-In Capital | |||||||||
Commodity Portfolio | $ | 1,154 | $ | 22,129 | $ | (23,283 | ) |
* | These components of capital are presented together as “Total distributable earnings/(loss)” on the Statements of Assets and Liabilities. |
6. RISK CONSIDERATIONS.
Market Risk — Each Portfolio bears a basic risk that the value of the securities held by a Portfolio may decline in response to general market and economic conditions, or conditions that affect specific market sectors or individual companies.
Credit Risk — Credit risk is the risk that an issuer (or in the case of certain securities, the guarantor or counterparty) will be unable to make principal and interest payments when due. The creditworthiness of an issuer may be affected by a number of factors, including the financial condition of the issuer (or guarantor) and, in the case of foreign issuers, the financial condition of the region.
Foreign Investment Risk — Investments in securities issued bynon-U.S. companies andnon-U.S. governments and their agencies may be adversely affected by the lack of timely or reliable financial information, political, social and/or economic developments abroad and foreign regulatory requirements and market practices. Securities denominated in foreign currencies are subject to the risk that the value of the foreign currency will decline in relation to the U.S. dollar. In addition, risks associated with foreign investments may be intensified in the case of investments in emerging-market countries, whose political, legal and economic systems are less developed and less stable than those of more developed nations.
Concentration Risk — Concentration risk is the risk that results from focusing investments in one industry or market sector. The Real Estate Portfolio and Commodity Portfolio concentrate their investments in real estate securities and commodity-related industries, respectively, which may present greater risks of loss than if the Portfolios were more broadly diversified over numerous unrelated industries.
Commodity-Related Derivatives Risk — The Commodity Portfolio, through its investment in its subsidiaries, will hold commodity-related derivatives. Commodity-related derivatives provide exposure, which may include long and/or short exposure, to the investment returns of physical commodities that trade in the commodities markets without investing directly in such physical commodities. The value of a commodity-related derivative typically is based on the price movements of a physical commodity (such as heating oil, precious metals, livestock, or agricultural products), a commodity futures contract or commodity index, or some other readily measurable economic variable. The value of commodity-related derivatives may be affected by changes in overall market movements, volatility of the underlying benchmark, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. The value of commodity-related derivatives will rise or fall in response to changes in the underlying commodity or related index. Investments in commodity-related derivatives may be subject to greater volatility thannon-derivative based investments. A highly liquid secondary market may not exist for certain commodity-related derivatives, and there can be no assurance that one will develop.
7. SIGNIFICANT SHAREHOLDERS.
Shareholders, including other funds, individuals, accounts, as well as the Portfolio’s investment manager(s) and/or investment personnel, may from time to time own (beneficially or of record) a significant percentage of the Portfolio’s Shares and can be considered to “control” the Portfolio when that ownership exceeds 25% of the Portfolio’s assets (which may differ from control as determined in accordance with accounting principles generally accepted in the United States of America).
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Notes to Financial Statements (concluded) — December 31, 2018 (Unaudited)
The following list includes the Portfolios which had individual shareholder accounts with ownership of voting securities greater than 10% of the total outstanding voting securities but less than 25% and/or accounts with ownership of voting securities greater than 25% of the total outstanding voting securities.
Portfolio | Number of shareholders with ownership of voting securities of the Portfolio greater than 10% and less than 25% of the total Portfolio’s outstanding voting securities | Number of shareholders with ownership of voting securities of the Portfolio greater than 25% of the total Portfolio’s outstanding voting securities | ||||||
Small Cap–Mid Cap Portfolio | 1 | — | ||||||
Institutional Small Cap–Mid Cap Portfolio | 1 | — | ||||||
Real Estate Portfolio | 1 | — | ||||||
Commodity Portfolio | 1 | — | ||||||
ESG Growth Portfolio | — | 1 | ||||||
Catholic SRI Growth Portfolio | 1 | 2 | ||||||
U.S. Government Fixed Income Portfolio | 1 | — |
8. SUBSEQUENT EVENTS.
Management has evaluated subsequent events through the date these financial statements were issued. Effective January 11, 2019, the Catholic SRI Growth Portfolio isre-classified as a “diversified” investment company and will continue to operate as a diversified investment company as it has done since its inception on January 11, 2016. Based on the evaluation, no additional disclosures or adjustments were required to the financial statements as of December 31, 2018.
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Additional Information — December 31, 2018 (Unaudited)
1. SECURITY PROXY VOTING. A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities is contained in the Statement of Additional Information. Information regarding how the Portfolios voted proxies relating to portfolio securities during the most recent twelve months ended June 30, is available without charge, upon request, by calling800-242-9596 and on the Securities and Exchange Commission’s (“SEC”) website athttp://www.sec.gov.
2. SHAREHOLDER VOTES. During the period ended December 31, 2018, the following actions were taken by the shareholders of the Portfolios.
SPECIAL MEETING OF SHAREHOLDERS – JULY 27, 2018
A special meeting of shareholders of the Portfolios was held on July 27, 2018. At the July 27, 2018 meeting, shareholders of the Portfolios approved the following:
1. On Proposal 1, approval of a portfolio management agreement between the Trust, on behalf of The Intermediate Term Municipal Bond Portfolio, and City of London Investment Management Company, Limited, the voting was as follows:
Number of Shares | % of the Outstanding Shares of the Portfolio | % of Shares Present | ||||||||||
Affirmative: | 38,188,034.901 | 98.053 | % | 99.216 | % | |||||||
Against: | 302,029.502 | 0.775 | % | 0.784 | % | |||||||
Abstain: | 0.000 | 0.000 | % | 0.000 | % | |||||||
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Total: | 38,490,064.403 | 98.828 | % | 100.000 | % | |||||||
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2. On Proposal 2, approval of a portfolio management agreement between the Trust, on behalf of The Intermediate Term Municipal Bond II Portfolio, and City of London Investment Management Company, Limited, the voting was as follows:
Number of Shares | % of the Outstanding Shares of the Portfolio | % of Shares Present | ||||||||||
Affirmative: | 7,612,690.862 | 98.366 | % | 98.984 | % | |||||||
Against: | 78,153.904 | 1.009 | % | 1.016 | % | |||||||
Abstain: | 0.000 | 0.000 | % | 0.000 | % | |||||||
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Total: | 7,690,844.766 | 99.375 | % | 100.000 | % | |||||||
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3. EXPENSE EXAMPLE. As a shareholder of the Trust, you incur ongoing costs, including management fees and other Portfolio expenses. This example (as set forth in the table below) is intended to help you understand your ongoing costs (in dollars) of investing in the Trust and to compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from July 1, 2018 through December 31, 2018.
Actual Expenses: The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes: The table below provides information about hypothetical account values and hypothetical expenses based on each of the Portfolio’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
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Additional Information (continued) — December 31, 2018 (Unaudited)
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as redemption fees or exchange fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Beginning Account Value July 1, 2018 | Ending Account Value December 31, 2018 | Expenses Paid During Period1 | Annualized Expense Ratio | |||||||||||||||||
Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 927.50 | $ | 1.02 | 0.21 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.15 | $ | 1.07 | 0.21 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 927.50 | $ | 1.02 | 0.21 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.15 | $ | 1.07 | 0.21 | % | ||||||||||||
Institutional Value Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 932.40 | $ | 0.93 | 0.19 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.25 | $ | 0.97 | 0.19 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 931.70 | $ | 0.93 | 0.19 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.25 | $ | 0.97 | 0.19 | % | ||||||||||||
Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 931.20 | $ | 1.27 | 0.26 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.89 | $ | 1.33 | 0.26 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 931.00 | $ | 1.27 | 0.26 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.89 | $ | 1.33 | 0.26 | % | ||||||||||||
Institutional Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 932.50 | $ | 1.12 | 0.23 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.05 | $ | 1.17 | 0.23 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 932.40 | $ | 1.12 | 0.23 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.05 | $ | 1.17 | 0.23 | % | ||||||||||||
Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 833.90 | $ | 3.05 | 0.66 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.88 | $ | 3.36 | 0.66 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 833.70 | $ | 3.05 | 0.66 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.88 | $ | 3.36 | 0.66 | % | ||||||||||||
Institutional Small Cap–Mid Cap Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 844.50 | $ | 2.60 | 0.56 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.38 | $ | 2.85 | 0.56 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 844.50 | $ | 2.60 | 0.56 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.38 | $ | 2.85 | 0.56 | % | ||||||||||||
Real Estate Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 950.70 | $ | 3.74 | 0.76 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.37 | $ | 3.87 | 0.76 | % | ||||||||||||
Commodity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 841.00 | $ | 1.53 | 0.33 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 840.00 | $ | 1.53 | 0.33 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||
ESG Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 916.90 | $ | 1.59 | 0.33 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 917.80 | $ | 1.60 | 0.33 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||
Catholic SRI Growth Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 903.30 | $ | 1.49 | 0.31 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 903.40 | $ | 1.49 | 0.31 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 888.20 | $ | 2.19 | 0.46 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.89 | $ | 2.35 | 0.46 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 888.30 | $ | 2.19 | 0.46 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.89 | $ | 2.35 | 0.46 | % |
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Additional Information (continued) — December 31, 2018 (Unaudited)
Beginning Account Value July 1, 2018 | Ending Account Value December 31, 2018 | Expenses Paid During Period1 | Annualized Expense Ratio | |||||||||||||||||
Institutional International Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 889.20 | $ | 2.05 | 0.43 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.04 | $ | 2.19 | 0.43 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 889.10 | $ | 2.05 | 0.43 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.04 | $ | 2.19 | 0.43 | % | ||||||||||||
Emerging Markets Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 941.90 | $ | 3.28 | 0.67 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.83 | $ | 3.41 | 0.67 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 941.90 | $ | 3.28 | 0.67 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,021.83 | $ | 3.41 | 0.67 | % | ||||||||||||
Core Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,014.70 | $ | 1.63 | 0.32 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.59 | $ | 1.63 | 0.32 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,014.70 | $ | 1.68 | 0.33 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.54 | $ | 1.68 | 0.33 | % | ||||||||||||
Fixed Opportunity Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 994.80 | $ | 2.36 | 0.47 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.84 | $ | 2.40 | 0.47 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 994.80 | $ | 2.36 | 0.47 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,022.84 | $ | 2.40 | 0.47 | % | ||||||||||||
U.S. Government Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,018.50 | $ | 1.02 | 0.20 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.20 | $ | 1.02 | 0.20 | % | ||||||||||||
Inflation Protected Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 987.20 | $ | 0.85 | 0.17 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.35 | $ | 0.87 | 0.17 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 987.20 | $ | 0.85 | 0.17 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.35 | $ | 0.87 | 0.17 | % | ||||||||||||
U.S. Corporate Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,011.20 | $ | 1.06 | 0.21 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.15 | $ | 1.07 | 0.21 | % | ||||||||||||
U.S. Mortgage/Asset Backed Fixed Income Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,018.90 | $ | 1.12 | 0.22 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,024.10 | $ | 1.12 | 0.22 | % | ||||||||||||
Short-Term Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,008.80 | $ | 1.47 | 0.29 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.74 | $ | 1.48 | 0.29 | % | ||||||||||||
Intermediate Municipal Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,007.80 | $ | 1.57 | 0.31 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,008.80 | $ | 1.57 | 0.31 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.64 | $ | 1.58 | 0.31 | % | ||||||||||||
Intermediate Municipal II Portfolio | HC Strategic Shares | Actual | $ | 1,000.00 | $ | 1,014.90 | $ | 1.52 | 0.30 | % | ||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % | ||||||||||||
HC Advisors Shares | Actual | $ | 1,000.00 | $ | 1,015.90 | $ | 1.52 | 0.30 | % | |||||||||||
Hypothetical2 | $ | 1,000.00 | $ | 1,023.69 | $ | 1.53 | 0.30 | % |
1 | Expenses are equal to the average account value over the period, multiplied by the Portfolio’s annualized expense ratio, multiplied by 184/365 (to reflect the one half year period). |
2 | Represents the hypothetical 5% annual return before expenses. |
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Additional Information (continued) — December 31, 2018 (Unaudited)
4. ADDITIONAL FEDERAL INCOME TAX INFORMATION
A. Dividends Received Deduction. For corporate shareholders, the following percentage of the total ordinary income distributions paid during the tax year ended December 31, 2018, qualify for the corporate dividend received deduction for the following Portfolio:
Portfolio | Dividends Received Deduction | |||
Commodity Portfolio | 0.00% |
B. Qualified Dividends. For the tax year ended December 31, 2018, under current tax law, the following dividends paid may be subject to a maximum tax rate of 15%.
Portfolio | Dividends Paid | |||
Commodity Portfolio | 0.00% |
The Portfolio intends to designate the maximum amount allowable as taxed at a maximum rate of 15%. Complete information will be reported in conjunction with your 2018 Form1099-DIV.
5. ACCESS TO QUARTERLY HOLDINGS
A complete schedule of each Portfolio’s portfolio holdings for the first and third fiscal quarter of each fiscal year is filed with the SEC on FormN-Q and is available on the SEC’s website athttp://www.sec.gov. In addition, the schedules may be reviewed and copied at the SEC’s Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling1-800-SEC-0330.
6. ADDITIONAL PORTFOLIO HOLDINGS INFORMATION
The following tables reflect the percentage of the total investments of each Portfolio attributable to the indicated industry sector, type of security or geographic region, as appropriate for the indicated Portfolio.
Value Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 8.6 | % | ||
Consumer Discretionary | 9.5 | % | ||
Consumer Staples | 7.6 | % | ||
Energy | 5.1 | % | ||
Financials | 16.4 | % | ||
Health Care | 14.7 | % | ||
Industrials | 8.8 | % | ||
Information Technology | 20.2 | % | ||
Materials | 2.6 | % | ||
Real Estate | 3.4 | % | ||
Utilities | 3.1 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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Institutional Value Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 6.9 | % | ||
Consumer Discretionary | 7.7 | % | ||
Consumer Staples | 7.7 | % | ||
Energy | 6.8 | % | ||
Financials | 26.3 | % | ||
Health Care | 13.3 | % | ||
Industrials | 7.8 | % | ||
Information Technology | 12.1 | % | ||
Materials | 3.1 | % | ||
Real Estate | 4.1 | % | ||
Utilities | 4.1 | % | ||
Other | 0.1 | % | ||
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Total | 100.0 | % | ||
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Additional Information (continued) — December 31, 2018 (Unaudited)
Growth Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 8.8 | % | ||
Consumer Discretionary | 15.9 | % | ||
Consumer Staples | 6.6 | % | ||
Energy | 2.1 | % | ||
Financials | 8.7 | % | ||
Health Care | 15.7 | % | ||
Industrials | 6.9 | % | ||
Information Technology | 31.0 | % | ||
Materials | 1.7 | % | ||
Real Estate | 2.0 | % | ||
Utilities | 0.6 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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Institutional Growth Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 10.8 | % | ||
Consumer Discretionary | 13.6 | % | ||
Consumer Staples | 4.8 | % | ||
Energy | 2.3 | % | ||
Financials | 16.9 | % | ||
Health Care | 14.0 | % | ||
Industrials | 7.9 | % | ||
Information Technology | 25.9 | % | ||
Materials | 1.4 | % | ||
Real Estate | 2.0 | % | ||
Utilities | 0.4 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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SmallCap-Mid Cap Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 2.7 | % | ||
Consumer Discretionary | 9.0 | % | ||
Consumer Staples | 1.5 | % | ||
Energy | 3.9 | % | ||
Financials | 20.2 | % | ||
Health Care | 14.4 | % | ||
Industrials | 17.7 | % | ||
Information Technology | 20.4 | % | ||
Materials | 6.0 | % | ||
Real Estate | 2.4 | % | ||
Utilities | 1.1 | % | ||
Other | 0.7 | % | ||
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Total | 100.0 | % | ||
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Institutional SmallCap-Mid Cap Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 2.5 | % | ||
Consumer Discretionary | 9.3 | % | ||
Consumer Staples | 1.5 | % | ||
Energy | 3.4 | % | ||
Financials | 20.0 | % | ||
Health Care | 15.8 | % | ||
Industrials | 17.2 | % | ||
Information Technology | 20.0 | % | ||
Materials | 5.4 | % | ||
Real Estate | 3.0 | % | ||
Utilities | 1.3 | % | ||
Other | 0.6 | % | ||
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Total | 100.0 | % | ||
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Real Estate Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 3.4 | % | ||
Financials | 12.8 | % | ||
Health Care | 0.7 | % | ||
Real Estate | 83.1 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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Commodity Portfolio
Security Allocation | Percentage of Value | |||
Consumer Discretionary | 0.0 | % | ||
Energy | 33.4 | % | ||
Financials | 34.5 | % | ||
Industrials | 0.0 | % | ||
Materials | 30.8 | % | ||
Utilities | 0.0 | % | ||
Other | 1.3 | % | ||
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Total | 100.0 | % | ||
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Additional Information (continued) — December 31, 2018 (Unaudited)
ESG Growth Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 7.4 | % | ||
Consumer Discretionary | 12.1 | % | ||
Consumer Staples | 6.9 | % | ||
Energy | 6.8 | % | ||
Financials | 14.8 | % | ||
Health Care | 10.6 | % | ||
Industrials | 11.1 | % | ||
Information Technology | 17.2 | % | ||
Materials | 6.4 | % | ||
Real Estate | 0.5 | % | ||
Utilities | 6.2 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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Catholic SRI Growth Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 8.2 | % | ||
Consumer Discretionary | 11.0 | % | ||
Consumer Staples | 6.9 | % | ||
Energy | 8.4 | % | ||
Financials | 14.0 | % | ||
Health Care | 10.8 | % | ||
Industrials | 11.2 | % | ||
Information Technology | 17.6 | % | ||
Materials | 5.4 | % | ||
Real Estate | 0.4 | % | ||
Utilities | 6.1 | % | ||
Other | 0.0 | % | ||
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Total | 100.0 | % | ||
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International Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 7.4 | % | ||
Consumer Discretionary | 8.7 | % | ||
Consumer Staples | 6.3 | % | ||
Energy | 6.9 | % | ||
Financials | 21.7 | % | ||
Health Care | 11.4 | % | ||
Industrials | 15.2 | % | ||
Information Technology | 5.1 | % | ||
Materials | 11.9 | % | ||
Real Estate | 1.8 | % | ||
Utilities | 3.1 | % | ||
Other | 0.5 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Institutional International Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 6.7 | % | ||
Consumer Discretionary | 8.5 | % | ||
Consumer Staples | 7.3 | % | ||
Energy | 7.0 | % | ||
Financials | 24.6 | % | ||
Health Care | 10.9 | % | ||
Industrials | 13.4 | % | ||
Information Technology | 4.6 | % | ||
Materials | 10.0 | % | ||
Real Estate | 2.8 | % | ||
Utilities | 3.9 | % | ||
Other | 0.3 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Emerging Markets Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 13.4 | % | ||
Consumer Discretionary | 10.6 | % | ||
Consumer Staples | 8.0 | % | ||
Energy | 7.6 | % | ||
Financials | 27.2 | % | ||
Health Care | 2.3 | % | ||
Industrials | 5.3 | % | ||
Information Technology | 11.7 | % | ||
Materials | 6.1 | % | ||
Real Estate | 2.5 | % | ||
Utilities | 3.2 | % | ||
Other | 2.1 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Core Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 33.4 | % | ||
Corporate | 32.4 | % | ||
Agency | 22.9 | % | ||
Yankee Dollar | 5.7 | % | ||
Investment Company | 3.7 | % | ||
Mortgage | 1.4 | % | ||
Asset Backed Securities | 0.5 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2018 (Unaudited)
Fixed Opportunity Portfolio
Security Allocation | Percentage of Value | |||
Corporate | 50.3 | % | ||
Mortgage | 16.8 | % | ||
Yankee Dollar | 11.3 | % | ||
Investment Company | 7.4 | % | ||
Exchange-Traded Fund | 5.2 | % | ||
U.S. Government Agency Mortgages | 4.1 | % | ||
Repurchase Agreement | 4.1 | % | ||
Asset Backed Securities | 0.6 | % | ||
Other | 0.2 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
U.S. Government Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 96.5 | % | ||
Agency | 3.3 | % | ||
Investment Company | 0.2 | % | ||
Yankee Dollar | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Inflation Protected Portfolio
Security Allocation | Percentage of Value | |||
Treasury | 98.5 | % | ||
Investment Company | 1.5 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
U.S. Corporate Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Communication Services | 11.9 | % | ||
Consumer Discretionary | 1.3 | % | ||
Consumer Staples | 5.4 | % | ||
Energy | 11.4 | % | ||
Financials | 32.6 | % | ||
Health Care | 10.7 | % | ||
Industrials | 8.0 | % | ||
Information Technology | 5.8 | % | ||
Materials | 5.3 | % | ||
Real Estate | 1.4 | % | ||
Utilities | 6.2 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
U.S. Mortgage/Asset Backed Fixed Income Portfolio
Security Allocation | Percentage of Value | |||
Agency | 80.8 | % | ||
Investment Company | 11.9 | % | ||
Mortgage | 5.6 | % | ||
Asset Backed Securities | 1.5 | % | ||
Yankee Dollar | 0.2 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Short-Term Municipal Portfolio
Security Allocation | Percentage of Value | |||
Financials | 1.4 | % | ||
General Obligation | 45.0 | % | ||
Higher Education | 1.1 | % | ||
Medical | 0.5 | % | ||
Power | 1.1 | % | ||
Revenue | 4.5 | % | ||
Revenue Bonds | 45.2 | % | ||
School District | 0.5 | % | ||
Water | 0.7 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
Intermediate Municipal Portfolio
Security Allocation | Percentage of Value | |||
Airport | 4.7 | % | ||
Bond Bank | 0.7 | % | ||
Education | 4.3 | % | ||
Facilities | 5.2 | % | ||
Financials | 0.9 | % | ||
General | 11.2 | % | ||
General Obligation | 11.8 | % | ||
Higher Education | 2.5 | % | ||
Industrials | 0.0 | % | ||
Investment Companies | 8.8 | % | ||
Medical | 6.0 | % | ||
Nursing Homes | 0.4 | % | ||
Power | 3.6 | % | ||
Revenue Bonds | 20.8 | % | ||
School District | 2.2 | % | ||
Student Loan | 1.2 | % | ||
Tobacco Settlement | 1.6 | % | ||
Transportation | 7.7 | % | ||
Utilities | 1.6 | % | ||
Water | 4.8 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2018 (Unaudited)
Intermediate Municipal II Portfolio
Security Allocation | Percentage of Value | |||
Education | 2.8 | % | ||
Facilities | 0.2 | % | ||
Financials | 1.8 | % | ||
General | 6.1 | % | ||
General Obligation | 34.9 | % | ||
Higher Education | 1.2 | % | ||
Medical | 3.6 | % | ||
Power | 4.7 | % | ||
Revenue | 4.5 | % | ||
Revenue Bonds | 16.5 | % | ||
School District | 3.7 | % | ||
Transportation | 3.6 | % | ||
Utilities | 3.1 | % | ||
Water | 13.3 | % | ||
Other | 0.0 | % | ||
|
| |||
Total | 100.0 | % | ||
|
|
7. BOARD APPROVAL OF INVESTMENT ADVISORY CONTRACTS
The Trust’s investment adviser is HC Capital Solutions (the “Adviser”), an operating division of Hirtle Callaghan & Co. LLC (“Hirtle Callaghan”). The Adviser provides overall investment management services with respect to HC Capital Trust (the “Trust”) and each of its separate portfolios (“Portfolios”) pursuant to the terms of two separate agreements with the Trust (the “HC Contracts”). The Adviser is authorized under the HC Contracts to purchase and sell portfolio securities for the Portfolios.Day-to-day portfolio management services are generally provided to the respective Portfolios by one or more investment advisory organizations (each a “Specialist Manager”) pursuant to the terms of separate investment advisory agreements (each, a “Portfolio Management Agreement”). During the six month period covered by this report, the Trust offeredtwenty-two Portfolios, eighteen of which were managed by two or more Specialist Managers.1 Each Specialist Manager is responsible for providingday-to-day portfolio management services for that portion of a Portfolio’s assets allocated to it by, and under the supervision of, the Adviser.
During thesix-month period covered by this report, the Trust’s Board of Trustees (the “Board”):
• | Approved the continuation of certain Portfolio Management Agreements, as set forth below; |
• | Approved amendments to six Portfolio Management Agreements with Mellon Investments Corporation (“Mellon”) relating to six Portfolios; |
• | Approved two new Portfolio Management Agreements between the Trust and Pacific Investment Management Company LLC (“PIMCO); and |
• | Approved a Subadvisory Agreement between PIMCO and Parametric Portfolio Associates, LLC (“Parametric”) relating to two Portfolios. |
In considering the information and materials described herein, the Trustees of the Trust who are not “interested persons” of the Trust or the Adviser within the meaning of the Investment Company Act (the “Independent Trustees”) were represented by, and met separately with, their independent legal counsel and were provided with a written description of their statutory responsibilities and the legal standards that are applicable to approvals of advisory agreements. In view of the broad scope and variety of factors and information, the Board did not find it practicable to, and did not, assign relative weights to the specific factors considered in reaching its conclusions to approve the various Portfolio Management Agreements and amendments. Rather, the conclusions were made on the basis of each Trustee’s business judgment after consideration of all of the factors taken in their entirety.
1 | See Note 3 of Notes to Financial Statements, above. |
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2018 (Unaudited)
Continuation of Certain Portfolio Management Agreements. The Portfolio Management Agreements approved for continuance during the period (collectively, the “Continuing Agreements”) are identified below, together with the Specialist Managers subject to review during the period.
Specialist Manager | Portfolios | |
Advisory Research, Inc. | The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio | |
Ariel Investments, LLC | The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio | |
Artisan Partners Limited Partnership | The International Equity Portfolio The Institutional International Equity Portfolio | |
Cadence Capital Management, LLC | The Value Equity Portfolio The Institutional Value Equity Portfolio The Growth Equity Portfolio The Institutional Growth Equity Portfolio The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio The Commodity Returns Strategy Portfolio The ESG Growth Portfolio The Catholic SRI Growth Portfolio The Real Estate Securities Portfolio The International Equity Portfolio The Institutional International Equity Portfolio The Emerging Markets Portfolio | |
Causeway Capital Management, LLC | The International Equity Portfolio The Institutional International Equity Portfolio | |
Frontier Capital Management Company, LLC | The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio | |
Lazard Asset Management LLC | The Institutional International Equity Portfolio | |
Pzena Investment Management, LLC | The SmallCapitalization-Mid Capitalization Equity Portfolio The Institutional SmallCapitalization-Mid Capitalization Equity Portfolio | |
RBC Global Asset Management (UK) Limited | The Emerging Markets Portfolio | |
Wellington Management Company LLP | The Commodity Returns Strategy Portfolio The Real Estate Securities Portfolio |
In its deliberations with respect to each of the Continuing Agreements, the Board recognized that, under each such agreement, a Specialist Manager is responsible only forday-to-day investment decisions with respect to that portion of a Portfolio’s assets allocated to it. The Board further recognized that the Specialist Managers do not participate in the administration of any of the Portfolios or in the distribution of shares of any of the Portfolios and thus receive limited, if any, benefit from their association with the Trust other than the fee paid to them by the respective Portfolios for investment management services.
In approving the Continuing Agreements, the Board concluded that continuation of each of the Continuing Agreements was in the best interests of each respective Portfolio and consistent with the expectations of shareholders of the Portfolios. While the Board did not identify any particular factor as controlling, the Board gave substantial weight to the fact that the Trust is designed primarily to serve as a vehicle through which the Adviser implements asset allocation strategies on behalf of Hirtle Callaghan’s clients; and that shares of the respective Portfolios are generally available only to such clients. With respect to the nature, extent and quality of the services provided by each of the Specialist Managers, the Board was informed with respect to the specific investment process employed by each of the Specialist Managers in managing the assets of the respective Portfolios allocated to them and the qualifications of each Specialist Manager’s investment management personnel. The Board was also informed with respect to each
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HC CAPITAL TRUST
Additional Information (continued) — December 31, 2018 (Unaudited)
Specialist Manager’s infrastructure and whether it appears to adequately support the strategies being implemented for the various Portfolios. The Board concluded that the nature, extent and quality of the portfolio management services provided by each of the Specialist Managers were satisfactory in light of the specific strategies employed on behalf of the respective Portfolios and, thus, supported a decision to approve the continuation of each of the Continuing Agreements.
The Board also considered representations made by the Adviser that the performance achieved by the relevant Specialist Managers was consistent with the Adviser’s expectations in the context of the overall objectives, and multi-manager strategy, of each of the respective Portfolios. During the course of its deliberations, the Board was informed with respect to publicly available information assembled by a third-party service provider about the performance of peer funds managed by other investment advisory organizations. The Board did not specifically rely on such information but based its conclusions on the facts and circumstances of each Portfolio.
In concluding that continuation of the Continuing Agreements was appropriate, the Board did not rely upon any single factor but gave considerable weight to the Adviser’s recommendations and its assessment of each Specialist Manager’s overall compliance profile and the success and future ability of each Specialist Manager in capturing the respective Portfolios’ desired asset classes. Based on the foregoing, the Board concluded that the performance of the Specialist Managers was satisfactory and that continuation of such contracts was in the best interest of shareholders of the respective Portfolios.
The Board also concluded that the rate at which each of the Specialist Managers is compensated under the Continuing Agreements is reasonable. In reaching this conclusion, the Board had before it information about the impact of break-points, financial information about the Specialist Managers relating to factors such as profitability, comparable fees charged to other institutional clients and/or to peer funds for similar services and costs incurred by the Specialist Managers in providing services to the respective Portfolios. The Board was also informed with respect to advisory fees paid by other, unaffiliated, funds with similar objectives and strategies. In considering this information, the Board gave substantial weight to information demonstrating that the rate at which these Specialist Managers are compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser, including in several cases, negotiated fee waivers/reductions and scheduled breakpoints designed to recognize economies of scale where appropriate.
Approval of Amendments to Portfolio Management Agreements with Mellon. During the period, the Board also approved amendments (the “Mellon Amendments”) to the Portfolio Management Agreements (the “Mellon Agreements”) with Mellon related to each of the Value Equity, Institutional Value Equity, Growth Equity, Institutional Growth Equity, SmallCapitalization-Mid Capitalization Equity and Institutional SmallCapitalization-Mid Capitalization Equity Portfolios. The Board was informed with respect to the fact that under the Mellon Agreements, Mellon had been entitled to a fee of 0.065% of the average daily net assets of each Portfolio so long as the total aggregate assets allocated to Mellon in certain designated Portfolios exceeded $2 billion, rising to 0.075% if that total fell below $2 billion for both indexing and single factor strategies.
At its meeting in December, 2018, the Board approved the Mellon Amendments, which provided for different fee levels for three different types of strategies, depending on the specific strategy employed. These fee levels included the original fee for single factor strategies, a lower fee for indexing strategies and a higher fee for multi-factor strategies.
In approving the Mellon Amendments, the Board reviewed information with respect to the nature, extent and quality of the services provided by Mellon and the role of the organization in the context of the Portfolios, as well as Mellon’s representations and the view of the Adviser to the effect that changes to the advisory fee rate would not change or impair the nature, extent or quality of services provided to the Portfolios. The Board noted that the aggregate fee to be paid to Mellon under the Mellon Amendments would depend on how the Adviser allocated a given Portfolio’s assets to the various Mellon strategies. The Based on all of the information presented, the Board concluded that implementation of the Mellon Capital Amendments was in the interests of shareholders of the Portfolios.
Approval of New Portfolio Management Agreements with PIMCO. During the period, the Board approved new Portfolio Management Agreements (the “PIMCO Agreements”) between the Trust and PIMCO relating to each of the Institutional Value Equity and Institutional Growth Equity Portfolios (collectively, the “Affected Portfolios”).
In approving the PIMCO Agreements, the Board was informed that the Adviser had determined that each of the Affected Portfolios would benefit from access to a strategy tracking the RAFI Dynamic Multi-Factor U.S. Index and that such a strategy is only available is through an account managed by PIMCO, which uses Parametric as asub-adviser to execute the strategy.
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HC CAPITAL TRUST
Additional Information (concluded) — December 31, 2018 (Unaudited)
With respect to the nature, extent and quality of the services expected to be provided to the Affected Portfolios, the Board gave considerable weight to the Adviser’s recommendation as well as the Board’s familiarity with the services provided by PIMCO under its existing Portfolio Management Agreements with the Trust. The Board also considered the fact that PIMCO would not participate in the administration or distribution of shares of the Affected Portfolios and that, other than advisory fees payable under the terms of the PIMCO Agreements, it was not expected that PIMCO would benefit materially from its association with the Trust. The Board concluded that it was satisfied with the nature, extent and quality of the services expected to be provided by PIMCO in light of the strategy it is to employ under the PIMCO Agreements.
In concluding that approval of the PIMCO Agreements was in the best interests of shareholders of the Affected Portfolios, the Board considered information with respect to the past performance of PIMCO, but the Board did not base its determination on such past results.
With respect to the fee schedules pursuant to which PIMCO would be compensated for its services, the Board was informed with respect to, among other relevant factors, comparative fee information, including information regarding both peer group fees charged to funds with similar strategies and fees charged to the Affected Portfolios by each of the other Specialist Managers then serving them using similar strategies, PIMCO’s financial position and projected profitability as well as data regarding advisory fees paid by other funds with similar investment policies. The Board did not specifically rely upon such information, but gave substantial weight to the facts that: the rate at which PIMCO was to be compensated was determined as a result of arms-length negotiations conducted by the officers of the Trust and the Adviser; and the Adviser believed the agreed upon rate to be reasonable. The Board concluded that the proposed rate was reasonable. In reaching its conclusion, the Board recognized that the impact of the rate to be paid to PIMCO on overall advisory fees would depend on the allocation of assets within the Affected Portfolios.
Approval of New Subadvisory Agreement between PIMCO and Parametric. During the period, the Board approved a new Subadvisory Agreement (the “Subadvisory Agreement”) between PIMCO and Parametric relating to each of the Institutional Value Equity and Institutional Growth Equity Portfolios (collectively, the “Affected Portfolios”).
In approving the Subadvisory Agreements, the Board was informed, as noted above, that the Adviser had determined that each of the Affected Portfolios would benefit from access to a strategy tracking the RAFI Dynamic Multi-Factor U.S. Index and that such a strategy is only available is through an account managed by PIMCO, which uses Parametric as asub-adviser to execute the strategy.
With respect to the nature, extent and quality of the services expected to be provided to the Affected Portfolios, the Board gave considerable weight to the Adviser’s recommendation as well as the Board’s familiarity with the services provided by Parametric under its existing Portfolio Management Agreements with the Trust. The Board also considered the fact that Parametric would not participate in the administration or distribution of shares of the Affected Portfolios and that, other than advisory fees payable to Parametric by PIMCO under the terms of the Subadvisory Agreement, it was not expected that Parametric would benefit materially from its association with the Trust. The Board concluded that it was satisfied with the nature, extent and quality of the services expected to be provided by Parametric in light of the strategy it is to employ under the Subadvisory Agreement.
In concluding that approval of the Subadvisory Agreement was in the best interests of shareholders of the Affected Portfolios, the Board considered information with respect to the past performance of Parametric, but the Board did not base its determination on such past results.
With respect to the fee schedules pursuant to which Parametric would be compensated for its services, the Board was informed with respect to, among other relevant factors, comparative fee information, including information regarding both peer group fees charged to funds with similar strategies and fees charged to the Affected Portfolios by each of the other Specialist Managers then serving them using similar strategies, Parametric’s financial position and projected profitability as well as data regarding advisory fees paid by other funds with similar investment policies. The Board did not specifically rely upon such information, but gave substantial weight to the fact that Parametric was to be paid by PIMCO out of the fee PIMCO would receive from the Affected Portfolios, and that the fee rate paid to Parametric would not directly impact the overall advisory fees paid by the Affected Portfolios. The Board concluded that the proposed rate was reasonable.
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HC CAPITAL TRUST
Trustees
GEOFFREY TRZEPACZ*
JARRETT B. KLING
HARVEY G. MAGARICK
R. RICHARD WILLIAMS
RICHARD W. WORTHAM III
* ‘Interested Person’ as that term is defined in the Investment Company Act of 1940.
Investment Adviser
HC Capital Solutions
Five Tower Bridge
300 Barr Harbor Drive, 5th Floor
West Conshohocken, PA 19428
Administrator
Citi Fund Services Ohio, Inc.
4400 Easton Commons, Suite 200
Columbus, OH 43219
Distributor
Unified Financial Securities, LLC
A subsidiary of Ultimus Fund Solutions, LLC
9465 Counselors Row, Suite 200
Indianapolis, IN 46240
Counsel
Stradley Ronon Stevens & Young, LLP
2005 Market Street, Suite 2600
Philadelphia, PA 19103-7018
Independent Registered Public Accounting Firm
PricewaterhouseCoopers LLP
41 South High Street, Suite 2500
Columbus, OH 43215
Custodian
State Street Bank and Trust Company
State Street Financial Center
1 Lincoln Street
Boston, MA 02111-2900
This report is for the information of the shareholders of HC Capital Trust. Its use in connection with any offering of the Trust’s shares is authorized only in case of a concurrent or prior delivery of the Trust’s current prospectus. The prospectus contains more complete information, including investment objectives, risks, fees and expenses and should be read carefully before investing or sending any money.
2/19
Table of Contents
Item 2. Code of Ethics.
Not Applicable
Item 3. Audit Committee Financial Expert.
Not Applicable
Item 4. Principal Accountant Fees and Services.
Not Applicable
Item 5. Audit Committee of Listed Registrants.
Not Applicable
Item 6. Schedule of Investments.
(a) Not Applicable
(b) Not Applicable
Item 7. Disclosure of Proxy Voting Policies and Procedures forClosed-End Management Investment Companies.
Not Applicable
Item 8. Portfolio Managers ofClosed-End Management Investment Companies.
Not Applicable
Item 9. Purchases of Equity Securities byClosed-End Management Investment Company and Affiliated Purchasers.
Not Applicable
Item 10. Submission of Matters to a Vote of Security Holders.
Not Applicable
Item 11. Controls and Procedures.
(a) The Registrant’s principal executive officer and principal financial officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as conducted within 90 days of the filing date of this report, that these disclosure controls and procedures are adequately designed and are operating effectively to ensure that information required to be disclosed by the Registrant on FormN-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.
(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule30a-3(d) under the Investment Company Act of 1940 (the “Act”) (17 CFR270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that have materially affected or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities forClosed-End Management Investment Companies.
Not Applicable
Item 13. Exhibits.
(a)(1) Not applicable.
(a)(2) Certifications pursuant to Rule30a-2(a) under the Act are attached hereto.
(a)(3) Not applicable.
(b) Certifications pursuant to Rule30a-2(b) under the Act are attached hereto.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant
has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) HC Capital Trust
By (Signature and Title)/s/ Geoffrey Trzepacz | ||
Geoffrey Trzepacz, Principal Executive Officer |
Date: February 27, 2019
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, thisreport has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)/s/ Colette L. Bergman | ||
Colette L. Bergman, Principal Financial Officer |
Date: February 27, 2019
By (Signature and Title)/s/ Geoffrey Trzepacz | ||
Geoffrey Trzepacz, Principal Executive Officer |
Date: February 27, 2019