UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: | 811-08915 | |
Exact name of registrant as specified in charter: | Prudential Investment Portfolios 16 | |
Address of principal executive offices: | Gateway Center 3, | |
100 Mulberry Street, | ||
Newark, New Jersey 07102 | ||
Name and address of agent for service: | Deborah A. Docs | |
Gateway Center 3, | ||
100 Mulberry Street, | ||
Newark, New Jersey 07102 | ||
Registrants telephone number, including area code: | 800-225-1852 | |
Date of fiscal year end: | 7/31/2014 | |
Date of reporting period: | 4/30/2014 |
Item 1. | Schedule of Investments |
Target Conservative Allocation Fund
Schedule of Investments
as of April 30, 2014 (Unaudited)
Shares | Value | |||||||
LONG-TERM INVESTMENTS 95.3% |
||||||||
COMMON STOCKS 42.3% |
||||||||
Aerospace & Defense 1.6% |
||||||||
B/E Aerospace, Inc.(a) |
1,570 | $ | 137,799 | |||||
Boeing Co. (The) |
2,650 | 341,903 | ||||||
Embraer SA (Brazil), ADR |
800 | 27,520 | ||||||
Esterline Technologies Corp.(a) |
175 | 19,078 | ||||||
Hexcel Corp.(a) |
1,755 | 73,166 | ||||||
Honeywell International, Inc. |
2,650 | 246,185 | ||||||
Lockheed Martin Corp. |
800 | 131,312 | ||||||
Moog, Inc. (Class A Stock)(a) |
293 | 19,177 | ||||||
Northrop Grumman Corp. |
2,800 | 340,228 | ||||||
Precision Castparts Corp. |
1,728 | 437,340 | ||||||
Teledyne Technologies, Inc.(a) |
225 | 20,893 | ||||||
|
|
|||||||
1,794,601 | ||||||||
|
|
|||||||
Airlines |
||||||||
American Airlines Group, Inc.(a) |
327 | 11,468 | ||||||
JetBlue Airways Corp.(a) |
2,681 | 21,193 | ||||||
|
|
|||||||
32,661 | ||||||||
|
|
|||||||
Auto Components 0.4% |
||||||||
BorgWarner, Inc. |
690 | 42,877 | ||||||
Delphi Automotive PLC (United Kingdom) |
3,535 | 236,279 | ||||||
Johnson Controls, Inc. |
3,200 | 144,448 | ||||||
Lear Corp. |
400 | 33,224 | ||||||
Magna International, Inc. (Canada) |
400 | 39,196 | ||||||
Tenneco, Inc.(a) |
320 | 19,158 | ||||||
|
|
|||||||
515,182 | ||||||||
|
|
|||||||
Automobiles 0.3% |
||||||||
Ford Motor Co. |
16,700 | 269,705 | ||||||
General Motors Co. |
2,100 | 72,408 | ||||||
Honda Motor Co. Ltd. (Japan) |
1,000 | 33,300 | ||||||
|
|
|||||||
375,413 | ||||||||
|
|
|||||||
Banks 2.4% |
||||||||
Bancorp, Inc. (The)(a) |
440 | 6,961 | ||||||
Bank of America Corp. |
27,453 | 415,638 | ||||||
BB&T Corp. |
900 | 33,597 | ||||||
Capital Bank Financial Corp. (Class A Stock)(a) |
475 | 11,329 | ||||||
CIT Group, Inc. |
4,930 | 212,236 | ||||||
Citigroup, Inc. |
9,655 | 462,571 | ||||||
Fifth Third Bancorp |
8,782 | 180,997 | ||||||
FirstMerit Corp. |
1,455 | 28,212 | ||||||
JPMorgan Chase & Co. |
10,400 | 582,192 | ||||||
PNC Financial Services Group, Inc. (The) |
2,300 | 193,292 | ||||||
Prosperity Bancshares, Inc. |
325 | 19,175 | ||||||
Trustmark Corp. |
572 | 13,082 | ||||||
UMB Financial Corp. |
307 | 18,024 | ||||||
Union Bankshares Corp. |
600 | 15,354 | ||||||
United Bankshares, Inc. |
425 | 12,431 | ||||||
Webster Financial Corp. |
900 | 27,126 | ||||||
Wells Fargo & Co. |
10,301 | 511,342 | ||||||
|
|
|||||||
2,743,559 | ||||||||
|
|
|||||||
Beverages 0.5% |
||||||||
Constellation Brands, Inc. (Class A Stock)(a) |
1,300 | 103,792 | ||||||
Diageo PLC (United Kingdom) |
4,302 | 131,812 | ||||||
Molson Coors Brewing Co. (Class B Stock) |
1,700 | 101,949 | ||||||
PepsiCo, Inc. |
1,725 | 148,160 | ||||||
Pernod-Ricard SA (France) |
790 | 94,807 | ||||||
|
|
|||||||
580,520 | ||||||||
|
|
Biotechnology 1.3% |
||||||||
Acorda Therapeutics, Inc.(a) |
608 | 21,554 | ||||||
Aegerion Pharmaceuticals, Inc.(a) |
215 | 9,516 | ||||||
Alexion Pharmaceuticals, Inc.(a) |
1,930 | 305,326 | ||||||
Amgen, Inc. |
800 | 89,400 | ||||||
Biogen Idec, Inc.(a) |
1,395 | 400,532 | ||||||
Celgene Corp.(a) |
1,030 | 151,420 | ||||||
Cell Therapeutics, Inc.(a) |
3,179 | 9,378 | ||||||
Cubist Pharmaceuticals, Inc.(a) |
152 | 10,649 | ||||||
Gilead Sciences, Inc.(a) |
3,430 | 269,221 | ||||||
Intercept Pharmaceuticals, Inc.(a) |
100 | 26,412 | ||||||
Isis Pharmaceuticals, Inc.(a) |
630 | 16,764 | ||||||
NPS Pharmaceuticals, Inc.(a) |
295 | 7,853 | ||||||
Ophthotech Corp.(a) |
385 | 13,086 | ||||||
Receptos, Inc.(a) |
235 | 7,941 | ||||||
Regeneron Pharmaceuticals, Inc.(a) |
586 | 173,977 | ||||||
Seattle Genetics, Inc.(a) |
245 | 9,428 | ||||||
Theravance, Inc.(a) |
524 | 14,106 | ||||||
|
|
|||||||
1,536,563 | ||||||||
|
|
|||||||
Building Products |
||||||||
Lennox International, Inc. |
125 | 10,479 | ||||||
PGT, Inc.(a) |
516 | 5,134 | ||||||
Trex Co., Inc.(a) |
267 | 20,965 | ||||||
USG Corp.(a) |
328 | 9,794 | ||||||
|
|
|||||||
46,372 | ||||||||
|
|
|||||||
Capital Markets 1.2% |
||||||||
Affiliated Managers Group, Inc.(a) |
847 | 167,876 | ||||||
Ares Capital Corp. |
1,300 | 22,321 | ||||||
Bank of New York Mellon Corp. (The) |
2,000 | 67,740 | ||||||
BlackRock, Inc. |
1,292 | 388,892 | ||||||
Eaton Vance Corp. |
404 | 14,572 | ||||||
FXCM, Inc. (Class A Stock) |
705 | 10,913 | ||||||
Goldman Sachs Group, Inc. (The) |
600 | 95,892 | ||||||
LPL Financial Holdings, Inc. |
400 | 18,940 | ||||||
Morgan Stanley |
12,300 | 380,439 | ||||||
Raymond James Financial, Inc. |
521 | 25,894 | ||||||
State Street Corp. |
1,400 | 90,384 | ||||||
Stifel Financial Corp.(a) |
961 | 44,946 | ||||||
TCP Capital Corp. |
500 | 8,095 | ||||||
|
|
|||||||
1,336,904 | ||||||||
|
|
|||||||
Chemicals 1.2% |
||||||||
Airgas, Inc. |
1,210 | 128,575 | ||||||
E.I. du Pont de Nemours & Co. |
2,915 | 196,238 | ||||||
Huntsman Corp. |
1,099 | 27,530 | ||||||
Monsanto Co. |
3,405 | 376,933 | ||||||
PPG Industries, Inc. |
500 | 96,810 | ||||||
Praxair, Inc. |
2,385 | 311,362 | ||||||
Quaker Chemical Corp. |
473 | 35,205 | ||||||
Scotts Miracle-Gro Co. (The) (Class A Stock) |
258 | 15,792 | ||||||
Sherwin-Williams Co. (The) |
1,084 | 216,627 | ||||||
Valspar Corp. (The) |
388 | 28,339 | ||||||
|
|
|||||||
1,433,411 | ||||||||
|
|
|||||||
Commercial Services & Supplies |
||||||||
KAR Auction Services, Inc. |
750 | 22,335 | ||||||
Waste Connections, Inc. |
592 | 26,439 | ||||||
|
|
|||||||
48,774 | ||||||||
|
|
Communications Equipment 0.5% |
||||||||
Aruba Networks, Inc.(a) |
764 | 15,104 | ||||||
Cisco Systems, Inc. |
8,300 | 191,813 | ||||||
CommScope Holding Co., Inc.(a) |
725 | 19,343 | ||||||
Ixia(a) |
1,017 | 12,631 | ||||||
Palo Alto Networks, Inc.(a) |
225 | 14,306 | ||||||
QUALCOMM, Inc. |
4,560 | 358,918 | ||||||
|
|
|||||||
612,115 | ||||||||
|
|
|||||||
Construction & Engineering 0.1% |
||||||||
EMCOR Group, Inc. |
145 | 6,669 | ||||||
MasTec, Inc.(a) |
525 | 20,779 | ||||||
Northwest Pipe Co.(a) |
513 | 18,350 | ||||||
URS Corp. |
267 | 12,581 | ||||||
|
|
|||||||
58,379 | ||||||||
|
|
|||||||
Construction Materials |
||||||||
Texas Industries, Inc.(a) |
470 | 40,749 | ||||||
|
|
|||||||
Consumer Finance 0.7% |
||||||||
American Express Co. |
3,210 | 280,650 | ||||||
Capital One Financial Corp. |
4,400 | 325,160 | ||||||
Cash America International, Inc. |
340 | 14,807 | ||||||
First Cash Financial Services, Inc.(a) |
275 | 13,412 | ||||||
SLM Corp. |
7,600 | 195,700 | ||||||
|
|
|||||||
829,729 | ||||||||
|
|
|||||||
Containers & Packaging 0.1% |
||||||||
Graphic Packaging Holding Co.(a) |
2,175 | 22,315 | ||||||
Packaging Corp. of America |
225 | 14,992 | ||||||
Silgan Holdings, Inc. |
400 | 19,900 | ||||||
|
|
|||||||
57,207 | ||||||||
|
|
|||||||
Diversified Consumer Services |
||||||||
Grand Canyon Education, Inc.(a) |
230 | 9,918 | ||||||
Hillenbrand, Inc. |
575 | 17,480 | ||||||
Sothebys |
152 | 6,393 | ||||||
|
|
|||||||
33,791 | ||||||||
|
|
|||||||
Diversified Financial Services 0.6% |
||||||||
CME Group, Inc. |
4,695 | 330,481 | ||||||
IntercontinentalExchange Group, Inc. |
1,898 | 388,027 | ||||||
|
|
|||||||
718,508 | ||||||||
|
|
|||||||
Diversified Telecommunication Services 0.4% |
||||||||
AT&T, Inc. |
5,300 | 189,210 | ||||||
CenturyLink, Inc. |
4,860 | 169,663 | ||||||
Verizon Communications, Inc. |
2,000 | 93,460 | ||||||
|
|
|||||||
452,333 | ||||||||
|
|
|||||||
Electric Utilities 0.5% |
||||||||
American Electric Power Co., Inc. |
3,500 | 188,335 | ||||||
Edison International |
800 | 45,248 | ||||||
Exelon Corp. |
2,600 | 91,078 | ||||||
PPL Corp. |
5,100 | 170,034 | ||||||
Southern Co. (The) |
1,600 | 73,328 | ||||||
|
|
|||||||
568,023 | ||||||||
|
|
Electrical Equipment 0.3% |
||||||||
AMETEK, Inc. |
4,420 | 233,023 | ||||||
EnerSys, Inc. |
476 | 32,168 | ||||||
Franklin Electric Co., Inc. |
608 | 23,511 | ||||||
Thermon Group Holdings, Inc.(a) |
970 | 23,105 | ||||||
|
|
|||||||
311,807 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.3% |
||||||||
Checkpoint Systems, Inc.(a) |
766 | 9,782 | ||||||
Coherent, Inc.(a) |
562 | 33,557 | ||||||
Corning, Inc. |
10,700 | 223,737 | ||||||
FLIR Systems, Inc. |
651 | 22,160 | ||||||
InvenSense, Inc.(a) |
1,148 | 24,716 | ||||||
IPG Photonics Corp.(a) |
371 | 23,978 | ||||||
Itron, Inc.(a) |
318 | 12,084 | ||||||
Littelfuse, Inc. |
396 | 35,858 | ||||||
Sanmina Corp.(a) |
500 | 10,125 | ||||||
|
|
|||||||
395,997 | ||||||||
|
|
|||||||
Energy Equipment & Services 0.6% |
||||||||
Atwood Oceanics, Inc.(a) |
225 | 11,151 | ||||||
Bristow Group, Inc. |
454 | 34,867 | ||||||
Core Laboratories NV |
210 | 39,413 | ||||||
Forum Energy Technologies, Inc.(a) |
725 | 21,648 | ||||||
Geospace Technologies Corp.(a) |
452 | 26,275 | ||||||
Halliburton Co. |
1,530 | 96,497 | ||||||
National Oilwell Varco, Inc. |
4,065 | 319,224 | ||||||
Newpark Resources, Inc.(a) |
1,314 | 15,821 | ||||||
Schlumberger Ltd. |
1,760 | 178,728 | ||||||
|
|
|||||||
743,624 | ||||||||
|
|
|||||||
Food & Staples Retailing 1.0% |
||||||||
Costco Wholesale Corp. |
1,573 | 181,965 | ||||||
CVS Caremark Corp. |
7,115 | 517,403 | ||||||
Fresh Market, Inc. (The)(a) |
503 | 18,661 | ||||||
Kroger Co. (The) |
2,200 | 101,288 | ||||||
Natural Grocers by Vitamin Cottage, Inc.(a) |
891 | 31,719 | ||||||
Rite Aid Corp.(a) |
1,450 | 10,585 | ||||||
United Natural Foods, Inc.(a) |
205 | 14,151 | ||||||
Wal-Mart Stores, Inc. |
2,800 | 223,188 | ||||||
Walgreen Co. |
1,400 | 95,060 | ||||||
|
|
|||||||
1,194,020 | ||||||||
|
|
|||||||
Food Products 0.6% |
||||||||
ConAgra Foods, Inc. |
3,100 | 94,581 | ||||||
Danone SA (France) |
1,375 | 101,529 | ||||||
Kellogg Co. |
800 | 53,464 | ||||||
Mead Johnson Nutrition Co. |
1,684 | 148,630 | ||||||
Mondelez International, Inc. (Class A Stock) |
7,160 | 255,254 | ||||||
Pinnacle Foods, Inc. |
215 | 6,536 | ||||||
WhiteWave Foods Co. (The) (Class A Stock)(a) |
1,505 | 41,673 | ||||||
|
|
|||||||
701,667 | ||||||||
|
|
|||||||
Gas Utilities |
||||||||
Atmos Energy Corp. |
225 | 11,484 | ||||||
South Jersey Industries, Inc. |
313 | 17,982 | ||||||
WGL Holdings, Inc. |
426 | 16,950 | ||||||
|
|
|||||||
46,416 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 0.9% |
||||||||
Abbott Laboratories |
5,460 | 211,520 | ||||||
Alere, Inc.(a) |
450 | 15,030 | ||||||
Align Technology, Inc.(a) |
285 | 14,361 | ||||||
C.R. Bard, Inc. |
350 | 48,066 |
Cantel Medical Corp. |
634 | 21,023 | ||||||
Cooper Cos., Inc. (The) |
785 | 103,549 | ||||||
Covidien PLC |
3,818 | 272,032 | ||||||
Cyberonics, Inc.(a) |
255 | 15,086 | ||||||
Endologix, Inc.(a) |
732 | 9,282 | ||||||
Integra LifeSciences Holdings Corp.(a) |
375 | 17,093 | ||||||
Medtronic, Inc. |
3,200 | 188,224 | ||||||
Natus Medical, Inc.(a) |
326 | 8,095 | ||||||
Sirona Dental Systems, Inc.(a) |
295 | 22,190 | ||||||
Spectranetics Corp. (The)(a) |
377 | 8,015 | ||||||
Teleflex, Inc. |
200 | 20,418 | ||||||
Thoratec Corp.(a) |
823 | 26,978 | ||||||
Zimmer Holdings, Inc. |
700 | 67,760 | ||||||
|
|
|||||||
1,068,722 | ||||||||
|
|
|||||||
Health Care Providers & Services 1.2% |
||||||||
Air Methods Corp.(a) |
570 | 31,732 | ||||||
Centene Corp.(a) |
828 | 54,979 | ||||||
Cigna Corp. |
1,223 | 97,889 | ||||||
Community Health Systems, Inc.(a) |
225 | 8,525 | ||||||
Express Scripts Holding Co.(a) |
4,184 | 278,571 | ||||||
Hanger, Inc.(a) |
295 | 10,228 | ||||||
Healthways, Inc.(a) |
654 | 11,772 | ||||||
Humana, Inc. |
800 | 87,800 | ||||||
LifePoint Hospitals, Inc.(a) |
175 | 9,786 | ||||||
MEDNAX, Inc.(a) |
444 | 26,307 | ||||||
MWI Veterinary Supply, Inc.(a) |
34 | 5,326 | ||||||
Team Health Holdings, Inc.(a) |
534 | 25,888 | ||||||
UnitedHealth Group, Inc. |
7,170 | 538,037 | ||||||
WellPoint, Inc. |
1,400 | 140,952 | ||||||
|
|
|||||||
1,327,792 | ||||||||
|
|
|||||||
Health Care Technology 0.2% |
||||||||
Cerner Corp.(a) |
2,428 | 124,556 | ||||||
MedAssets, Inc.(a) |
2,013 | 45,957 | ||||||
Medidata Solutions, Inc.(a) |
236 | 8,569 | ||||||
|
|
|||||||
179,082 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.2% |
||||||||
Bally Technologies, Inc.(a) |
537 | 34,964 | ||||||
Bob Evans Farms, Inc. |
75 | 3,515 | ||||||
Chuys Holdings, Inc.(a) |
320 | 11,504 | ||||||
International Game Technology |
4,010 | 50,326 | ||||||
International Speedway Corp. (Class A Stock) |
410 | 12,890 | ||||||
Jack in the Box, Inc.(a) |
200 | 10,708 | ||||||
Las Vegas Sands Corp. |
3,420 | 270,625 | ||||||
Life Time Fitness, Inc.(a) |
394 | 18,912 | ||||||
Marriott International, Inc. (Class A Stock) |
3,440 | 199,279 | ||||||
McDonalds Corp. |
500 | 50,690 | ||||||
Orient-Express Hotels Ltd. (Class A Stock)(a) |
1,933 | 25,322 | ||||||
Potbelly Corp.(a) |
282 | 4,794 | ||||||
Starbucks Corp. |
2,220 | 156,776 | ||||||
Wynn Resorts Ltd. |
1,684 | 343,351 | ||||||
Yum! Brands, Inc. |
1,736 | 133,655 | ||||||
|
|
|||||||
1,327,311 | ||||||||
|
|
|||||||
Household Durables 0.1% |
||||||||
Harman International Industries, Inc. |
100 | 10,961 | ||||||
Helen of Troy Ltd.(a) |
74 | 4,640 | ||||||
Meritage Homes Corp.(a) |
414 | 15,972 | ||||||
Ryland Group, Inc. (The) |
175 | 6,718 |
Universal Electronics, Inc.(a) |
666 | 24,875 | ||||||
Whirlpool Corp. |
600 | 92,028 | ||||||
|
|
|||||||
155,194 | ||||||||
|
|
|||||||
Household Products 0.2% |
||||||||
Colgate-Palmolive Co. |
2,613 | 175,855 | ||||||
|
|
|||||||
Independent Power & Renewable Electricity Producers 0.1% |
||||||||
NRG Energy, Inc. |
3,700 | 121,064 | ||||||
|
|
|||||||
Industrial Conglomerates 0.8% |
||||||||
Danaher Corp. |
6,018 | 441,601 | ||||||
General Electric Co. |
10,400 | 279,656 | ||||||
Roper Industries, Inc. |
1,249 | 173,548 | ||||||
|
|
|||||||
894,805 | ||||||||
|
|
|||||||
Insurance 1.8% |
||||||||
Allstate Corp. (The) |
8,200 | 466,990 | ||||||
American Equity Investment Life Holding Co. |
1,373 | 32,018 | ||||||
American International Group, Inc. |
11,735 | 623,481 | ||||||
Aspen Insurance Holdings Ltd. |
375 | 17,168 | ||||||
CNO Financial Group, Inc. |
975 | 16,819 | ||||||
Enstar Group Ltd.(a) |
79 | 10,199 | ||||||
HCC Insurance Holdings, Inc. |
512 | 23,521 | ||||||
Horace Mann Educators Corp. |
369 | 11,096 | ||||||
Maiden Holdings Ltd. |
650 | 7,670 | ||||||
Marsh & McLennan Cos., Inc. |
5,965 | 294,134 | ||||||
MetLife, Inc. |
5,400 | 282,690 | ||||||
Platinum Underwriters Holdings Ltd. |
250 | 15,678 | ||||||
Protective Life Corp. |
513 | 26,240 | ||||||
Reinsurance Group of America, Inc. |
282 | 21,632 | ||||||
State Auto Financial Corp. |
283 | 5,790 | ||||||
Travelers Cos., Inc. (The) |
1,100 | 99,638 | ||||||
United Fire Group, Inc. |
537 | 14,939 | ||||||
Unum Group |
3,700 | 122,914 | ||||||
|
|
|||||||
2,092,617 | ||||||||
|
|
|||||||
Internet & Catalog Retail 0.6% |
||||||||
Amazon.com, Inc.(a) |
710 | 215,932 | ||||||
HomeAway, Inc.(a) |
295 | 9,623 | ||||||
HSN, Inc. |
275 | 15,961 | ||||||
Priceline Group, Inc. (The)(a) |
374 | 432,999 | ||||||
|
|
|||||||
674,515 | ||||||||
|
|
|||||||
Internet Software & Services 1.6% |
||||||||
Angies List, Inc.(a) |
889 | 10,054 | ||||||
Cornerstone OnDemand, Inc.(a) |
647 | 23,784 | ||||||
Demandware, Inc.(a) |
363 | 18,016 | ||||||
Digital River, Inc.(a) |
512 | 7,828 | ||||||
E2open, Inc.(a) |
499 | 8,618 | ||||||
eBay, Inc.(a) |
3,800 | 196,954 | ||||||
Facebook, Inc. (Class A Stock)(a) |
6,010 | 359,278 | ||||||
Google, Inc. (Class A Stock)(a) |
977 | 522,578 | ||||||
Google, Inc. (Class C Stock)(a) |
977 | 514,547 | ||||||
LinkedIn Corp. (Class A Stock)(a) |
812 | 124,618 | ||||||
Marin Software, Inc.(a) |
672 | 6,303 | ||||||
SciQuest, Inc.(a) |
330 | 7,913 | ||||||
Trulia, Inc.(a) |
680 | 23,120 | ||||||
Yahoo!, Inc.(a) |
1,780 | 63,991 | ||||||
|
|
|||||||
1,887,602 | ||||||||
|
|
|||||||
IT Services 1.6% |
||||||||
Broadridge Financial Solutions, Inc. |
525 | 20,128 |
CACI International, Inc. (Class A Stock)(a) |
200 | 13,930 | ||||||
Cognizant Technology Solutions Corp. (Class A Stock)(a) |
7,498 | 359,192 | ||||||
FleetCor Technologies, Inc.(a) |
1,410 | 160,923 | ||||||
Global Payments, Inc. |
295 | 19,715 | ||||||
iGATE Corp.(a) |
300 | 10,980 | ||||||
International Business Machines Corp. |
600 | 117,882 | ||||||
Jack Henry & Associates, Inc. |
225 | 12,411 | ||||||
MasterCard, Inc. (Class A Stock) |
5,192 | 381,872 | ||||||
Sapient Corp.(a) |
986 | 16,042 | ||||||
Visa, Inc. (Class A Stock) |
2,526 | 511,793 | ||||||
Xerox Corp. |
14,800 | 178,932 | ||||||
|
|
|||||||
1,803,800 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 0.8% |
||||||||
Agilent Technologies, Inc. |
6,265 | 338,561 | ||||||
Covance, Inc.(a) |
230 | 20,304 | ||||||
Illumina, Inc.(a) |
170 | 23,095 | ||||||
PAREXEL International Corp.(a) |
244 | 11,065 | ||||||
Thermo Fisher Scientific, Inc. |
4,142 | 472,188 | ||||||
|
|
|||||||
865,213 | ||||||||
|
|
|||||||
Machinery 1.2% |
||||||||
Actuant Corp. (Class A Stock) |
250 | 8,465 | ||||||
Barnes Group, Inc. |
400 | 15,408 | ||||||
Chart Industries, Inc.(a) |
187 | 12,757 | ||||||
Colfax Corp.(a) |
1,908 | 137,338 | ||||||
Crane Co. |
140 | 10,182 | ||||||
Cummins, Inc. |
2,203 | 332,323 | ||||||
Deere & Co. |
1,000 | 93,340 | ||||||
Ingersoll-Rand PLC |
4,930 | 294,814 | ||||||
Joy Global, Inc. |
1,029 | 62,131 | ||||||
Manitowoc Co., Inc. (The) |
759 | 24,121 | ||||||
PACCAR, Inc. |
1,300 | 83,174 | ||||||
Parker Hannifin Corp. |
800 | 101,504 | ||||||
Rexnord Corp.(a) |
475 | 12,701 | ||||||
Snap-on, Inc. |
274 | 31,784 | ||||||
Stanley Black & Decker, Inc. |
800 | 68,712 | ||||||
Timken Co. (The) |
394 | 24,854 | ||||||
TriMas Corp.(a) |
331 | 11,870 | ||||||
Wabash National Corp.(a) |
775 | 10,354 | ||||||
WABCO Holdings, Inc.(a) |
145 | 15,516 | ||||||
Woodward, Inc. |
342 | 15,332 | ||||||
|
|
|||||||
1,366,680 | ||||||||
|
|
|||||||
Media 1.7% |
||||||||
AMC Networks, Inc. (Class A Stock)(a) |
490 | 32,178 | ||||||
CBS Corp. (Class B Stock) |
1,500 | 86,640 | ||||||
Comcast Corp. (Special Class A Stock) |
8,726 | 445,288 | ||||||
Discovery Communications, Inc. (Class A Stock)(a) |
3,300 | 250,470 | ||||||
Interpublic Group of Cos., Inc. (The) |
3,800 | 66,196 | ||||||
Time Warner Cable, Inc. |
500 | 70,730 | ||||||
Time Warner, Inc. |
2,850 | 189,411 | ||||||
Twenty-First Century Fox, Inc. (Class A Stock) |
11,330 | 362,787 | ||||||
Viacom, Inc. (Class B Stock) |
1,930 | 164,011 | ||||||
Walt Disney Co. (The) |
4,060 | 322,120 | ||||||
|
|
|||||||
1,989,831 | ||||||||
|
|
|||||||
Metals & Mining 0.2% |
||||||||
Freeport-McMoRan Copper & Gold, Inc. |
5,800 | 199,346 | ||||||
Globe Specialty Metals, Inc. |
200 | 3,876 | ||||||
Reliance Steel & Aluminum Co. |
225 | 15,935 | ||||||
RTI International Metals, Inc.(a) |
882 | 24,837 | ||||||
|
|
|||||||
243,994 | ||||||||
|
|
Multi-Utilities 0.2% |
||||||||
Public Service Enterprise Group, Inc. |
5,100 | 208,947 | ||||||
|
|
|||||||
Multiline Retail 0.3% |
||||||||
Macys, Inc. |
1,700 | 97,631 | ||||||
Target Corp. |
3,100 | 191,425 | ||||||
|
|
|||||||
289,056 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 2.7% |
||||||||
Anadarko Petroleum Corp. |
2,110 | 208,932 | ||||||
Antero Resources Corp.(a) |
570 | 37,432 | ||||||
Cabot Oil & Gas Corp. |
3,000 | 117,840 | ||||||
Chesapeake Energy Corp. |
3,000 | 86,250 | ||||||
Chevron Corp. |
2,300 | 288,696 | ||||||
ConocoPhillips |
2,400 | 178,344 | ||||||
Diamondback Energy, Inc.(a) |
110 | 7,913 | ||||||
Exxon Mobil Corp. |
900 | 92,169 | ||||||
Gulfport Energy Corp.(a) |
548 | 40,371 | ||||||
HollyFrontier Corp. |
4,003 | 210,518 | ||||||
Marathon Oil Corp. |
8,600 | 310,890 | ||||||
Murphy Oil Corp. |
3,800 | 241,034 | ||||||
Noble Energy, Inc. |
2,715 | 194,883 | ||||||
Oasis Petroleum, Inc.(a) |
525 | 24,418 | ||||||
ONEOK, Inc. |
219 | 13,845 | ||||||
Pioneer Natural Resources Co. |
1,407 | 271,931 | ||||||
Rice Energy, Inc.(a) |
1,045 | 31,037 | ||||||
Royal Dutch Shell PLC (Netherlands), ADR |
5,149 | 405,432 | ||||||
Swift Energy Co.(a) |
794 | 9,790 | ||||||
Total SA (France), ADR |
4,400 | 313,456 | ||||||
|
|
|||||||
3,085,181 | ||||||||
|
|
|||||||
Paper & Forest Products 0.3% |
||||||||
Clearwater Paper Corp.(a) |
175 | 10,743 | ||||||
International Paper Co. |
8,385 | 391,160 | ||||||
|
|
|||||||
401,903 | ||||||||
|
|
|||||||
Personal Products 0.1% |
||||||||
Elizabeth Arden, Inc.(a) |
200 | 7,348 | ||||||
Estee Lauder Cos., Inc. (The) (Class A Stock) |
1,459 | 105,880 | ||||||
|
|
|||||||
113,228 | ||||||||
|
|
|||||||
Pharmaceuticals 2.3% |
||||||||
AbbVie, Inc. |
4,380 | 228,110 | ||||||
Actavis PLC(a) |
1,600 | 326,928 | ||||||
AstraZeneca PLC (United Kingdom), ADR |
2,400 | 189,720 | ||||||
Bristol-Myers Squibb Co. |
5,820 | 291,524 | ||||||
Eli Lilly & Co. |
2,800 | 165,480 | ||||||
Forest Laboratories, Inc.(a) |
370 | 34,007 | ||||||
Johnson & Johnson |
3,400 | 344,386 | ||||||
Merck & Co., Inc. |
3,500 | 204,960 | ||||||
Novartis AG (Switzerland), ADR |
800 | 69,552 | ||||||
Pacira Pharmaceuticals, Inc.(a) |
105 | 7,191 | ||||||
Perrigo Co. PLC |
1,117 | 161,809 | ||||||
Pfizer, Inc. |
5,700 | 178,296 | ||||||
Sanofi (France), ADR |
3,400 | 182,920 | ||||||
Teva Pharmaceutical Industries Ltd. (Israel), ADR |
1,900 | 92,834 | ||||||
Valeant Pharmaceuticals International, Inc.(a) |
1,210 | 161,789 | ||||||
Zoetis, Inc. |
2,400 | 72,624 | ||||||
|
|
|||||||
2,712,130 | ||||||||
|
|
Professional Services 0.2% |
||||||||
Advisory Board Co. (The)(a) |
152 | 8,704 | ||||||
Dun & Bradstreet Corp. (The) |
150 | 16,614 | ||||||
ICF International, Inc.(a) |
325 | 12,665 | ||||||
Manpowergroup, Inc. |
400 | 32,536 | ||||||
Paylocity Holding Corp.(a) |
258 | 4,879 | ||||||
Verisk Analytics, Inc. (Class A Stock)(a) |
2,060 | 123,785 | ||||||
|
|
|||||||
199,183 | ||||||||
|
|
|||||||
Real Estate Investment Trusts (REITs) 0.5% |
||||||||
American Tower Corp. |
5,234 | 437,144 | ||||||
First Potomac Realty Trust |
1,187 | 15,466 | ||||||
Geo Group, Inc. (The) |
764 | 25,617 | ||||||
Hersha Hospitality Trust |
2,275 | 13,218 | ||||||
Highwoods Properties, Inc. |
200 | 8,070 | ||||||
Medical Properties Trust, Inc. |
1,346 | 18,171 | ||||||
Two Harbors Investment Corp. |
878 | 9,114 | ||||||
|
|
|||||||
526,800 | ||||||||
|
|
|||||||
Road & Rail 0.3% |
||||||||
Celadon Group, Inc. |
200 | 4,602 | ||||||
Con-way, Inc. |
325 | 13,806 | ||||||
Kansas City Southern |
733 | 73,945 | ||||||
Landstar System, Inc. |
284 | 17,889 | ||||||
Norfolk Southern Corp. |
1,000 | 94,530 | ||||||
Quality Distribution, Inc.(a) |
889 | 11,175 | ||||||
Union Pacific Corp. |
904 | 172,149 | ||||||
|
|
|||||||
388,096 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 0.8% |
||||||||
Altera Corp. |
6,120 | 199,022 | ||||||
Cabot Microelectronics Corp.(a) |
454 | 19,690 | ||||||
Cavium, Inc.(a) |
682 | 28,896 | ||||||
Entegris, Inc.(a) |
1,628 | 18,055 | ||||||
Intel Corp. |
7,400 | 197,506 | ||||||
Kulicke & Soffa Industries, Inc. (Singapore)(a) |
632 | 9,297 | ||||||
Linear Technology Corp. |
1,420 | 63,190 | ||||||
Monolithic Power Systems, Inc.(a) |
470 | 17,437 | ||||||
Skyworks Solutions, Inc.(a) |
525 | 21,551 | ||||||
SunEdison, Inc.(a) |
685 | 13,173 | ||||||
Teradyne, Inc.(a) |
621 | 10,973 | ||||||
Texas Instruments, Inc. |
5,790 | 263,155 | ||||||
Veeco Instruments, Inc.(a) |
579 | 21,406 | ||||||
|
|
|||||||
883,351 | ||||||||
|
|
|||||||
Software 2.0% |
||||||||
Aspen Technology, Inc.(a) |
549 | 23,601 | ||||||
Autodesk, Inc.(a) |
1,380 | 66,268 | ||||||
BroadSoft, Inc.(a) |
375 | 9,517 | ||||||
CA, Inc. |
5,775 | 174,058 | ||||||
Check Point Software Technologies Ltd. (Israel)(a) |
3,265 | 209,156 | ||||||
Citrix Systems, Inc.(a) |
1,193 | 70,757 | ||||||
CommVault Systems, Inc.(a) |
150 | 7,260 | ||||||
Concur Technologies, Inc.(a) |
104 | 8,369 | ||||||
Ellie Mae, Inc.(a) |
225 | 5,488 | ||||||
Epiq Systems, Inc. |
545 | 6,971 | ||||||
Fair Isaac Corp. |
300 | 17,160 | ||||||
Fortinet, Inc.(a) |
700 | 15,386 | ||||||
Guidewire Software, Inc.(a) |
304 | 11,479 | ||||||
Imperva, Inc.(a) |
426 | 9,747 | ||||||
Microsoft Corp. |
18,590 | 751,036 | ||||||
NICE Systems Ltd. (Israel), ADR |
441 | 19,051 |
Oracle Corp. |
11,940 | 488,107 | ||||||
PTC, Inc.(a) |
1,993 | 70,492 | ||||||
QLIK Technologies, Inc.(a) |
463 | 10,177 | ||||||
Qualys, Inc.(a) |
557 | 10,745 | ||||||
Salesforce.com, Inc.(a) |
4,291 | 221,630 | ||||||
SS&C Technologies Holdings, Inc.(a) |
425 | 16,541 | ||||||
Ultimate Software Group, Inc. (The)(a) |
100 | 11,963 | ||||||
Varonis Systems, Inc.(a) |
278 | 7,025 | ||||||
Verint Systems, Inc.(a) |
475 | 20,791 | ||||||
VMware, Inc. (Class A Stock)(a) |
510 | 47,180 | ||||||
|
|
|||||||
2,309,955 | ||||||||
|
|
|||||||
Specialty Retail 1.0% |
||||||||
Aarons, Inc. |
272 | 8,016 | ||||||
Abercrombie & Fitch Co. (Class A Stock) |
250 | 9,190 | ||||||
AutoZone, Inc.(a) |
206 | 109,981 | ||||||
Chicos FAS, Inc. |
800 | 12,704 | ||||||
Genesco, Inc.(a) |
833 | 63,616 | ||||||
GNC Holdings, Inc. (Class A Stock) |
325 | 14,625 | ||||||
Group 1 Automotive, Inc. |
250 | 18,033 | ||||||
Mens Wearhouse, Inc. (The) |
375 | 17,768 | ||||||
Outerwall, Inc.(a) |
198 | 13,731 | ||||||
PetSmart, Inc. |
2,560 | 173,261 | ||||||
Ross Stores, Inc. |
4,090 | 278,447 | ||||||
Tiffany & Co. |
1,370 | 119,861 | ||||||
TJX Cos., Inc. (The) |
2,560 | 148,941 | ||||||
Tractor Supply Co. |
1,316 | 88,488 | ||||||
TravelCenters of America LLC(a) |
74 | 560 | ||||||
Urban Outfitters, Inc.(a) |
640 | 22,819 | ||||||
Vitamin Shoppe, Inc.(a) |
954 | 45,678 | ||||||
|
|
|||||||
1,145,719 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 1.5% |
||||||||
Apple, Inc. |
1,341 | 791,311 | ||||||
EMC Corp. |
15,829 | 408,388 | ||||||
Hewlett-Packard Co. |
9,692 | 320,417 | ||||||
Seagate Technology PLC |
3,850 | 202,433 | ||||||
|
|
|||||||
1,722,549 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.7% |
||||||||
Deckers Outdoor Corp.(a) |
235 | 18,553 | ||||||
LVMH Moet Hennessy Louis Vuitton SA (France) |
777 | 153,064 | ||||||
Michael Kors Holdings Ltd.(a) |
1,390 | 126,768 | ||||||
NIKE, Inc. (Class B Stock) |
1,910 | 139,335 | ||||||
PVH Corp. |
761 | 95,559 | ||||||
Steven Madden Ltd.(a) |
615 | 21,900 | ||||||
VF Corp. |
4,655 | 284,374 | ||||||
Vince Holding Corp.(a) |
446 | 12,269 | ||||||
Wolverine World Wide, Inc. |
375 | 10,538 | ||||||
|
|
|||||||
862,360 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance |
||||||||
Astoria Financial Corp. |
734 | 9,733 | ||||||
Home Loan Servicing Solutions Ltd. |
995 | 22,039 | ||||||
MGIC Investment Corp.(a) |
1,785 | 15,351 | ||||||
|
|
|||||||
47,123 | ||||||||
|
|
|||||||
Tobacco 0.3% |
||||||||
Altria Group, Inc. |
2,600 | 104,286 | ||||||
Philip Morris International, Inc. |
2,190 | 187,092 | ||||||
|
|
|||||||
291,378 | ||||||||
|
|
Trading Companies & Distributors 0.1% |
||||||||||||||||
CAI International, Inc.(a) |
473 | 10,288 | ||||||||||||||
DXP Enterprises, Inc.(a) |
25 | 2,830 | ||||||||||||||
GATX Corp. |
438 | 28,746 | ||||||||||||||
TAL International Group, Inc. |
327 | 13,793 | ||||||||||||||
WESCO International, Inc.(a) |
150 | 13,167 | ||||||||||||||
|
|
|||||||||||||||
68,824 | ||||||||||||||||
|
|
|||||||||||||||
Wireless Telecommunication Services 0.2% |
||||||||||||||||
SBA Communications Corp. (Class A Stock)(a) |
262 | 23,517 | ||||||||||||||
Vodafone Group PLC (United Kingdom), ADR |
5,845 | 221,876 | ||||||||||||||
|
|
|||||||||||||||
245,393 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL COMMON STOCKS |
48,883,578 | |||||||||||||||
|
|
|||||||||||||||
Interest Rate |
Maturity Date |
Principal Amount (000)# |
||||||||||||||
ASSET-BACKED SECURITIES 3.4% |
|
|||||||||||||||
Collateralized Debt Obligations 1.5% |
|
|||||||||||||||
Sierra Madre Funding Ltd., (Cayman Islands), Series 2004-1A, Class A1A, 144A(d) |
0.538 | %(b) | 09/07/39 | 424 | 279,178 | |||||||||||
Sierra Madre Funding Ltd., (Cayman Islands), Series 2004-1A, Class ALTB, 144A(d) |
0.558 | %(b) | 09/07/39 | 1,008 | 762,474 | |||||||||||
Venture VIII CDO Ltd., Series 2007-8A, Class A2A, 144A |
0.448 | %(b) | 07/22/21 | 700 | 682,825 | |||||||||||
|
|
|||||||||||||||
1,724,477 | ||||||||||||||||
|
|
|||||||||||||||
Non-Residential Mortgage-Backed Security 0.7% |
|
|||||||||||||||
SLM Student Loan Trust, Series 2008-9, Class A |
1.729 | %(b) | 04/25/23 | 809 | 836,086 | |||||||||||
|
|
|||||||||||||||
Residential Mortgage-Backed Securities 1.2% |
|
|||||||||||||||
Asset-Backed Funding Certificates Trust, Series 2004- OPT5, Class A1 |
0.852 | %(b) | 06/25/34 | 204 | 189,885 | |||||||||||
HSI Asset Securitization Corp. Trust, Series 2006-HE2, Class 2A2 |
0.262 | %(b) | 12/25/36 | 811 | 367,966 | |||||||||||
JPMorgan Mortgage Acquisition Trust, Series 2006-WF1, Class A4 |
6.130 | % | 07/25/36 | 795 | 480,713 | |||||||||||
Merrill Lynch Mortgage Investors Trust, Series 2006-RM5, Class A2A |
0.212 | %(b) | 10/25/37 | 82 | 26,061 | |||||||||||
Merrill Lynch Mortgage Investors Trust, Series 2007- MLN1, Class A2A |
0.262 | %(b) | 03/25/37 | 494 | 295,935 | |||||||||||
Soundview Home Equity Loan Trust, Series 2006-NLC1, Class A1, 144A |
0.212 | %(b) | 11/25/36 | 51 | 19,152 | |||||||||||
|
|
|||||||||||||||
1,379,712 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL ASSET-BACKED SECURITIES |
|
3,940,275 | ||||||||||||||
|
|
|||||||||||||||
CORPORATE BONDS 11.9% |
|
|||||||||||||||
Airlines 0.3% |
|
|||||||||||||||
United Airlines, Inc., Sr. Unsecd. Notes, 144A |
6.750 | % | 09/15/15 | 300 | 304,875 | |||||||||||
|
|
|||||||||||||||
Auto Manufacturers 0.3% |
|
|||||||||||||||
Daimler Finance North America LLC, (Germany), Gtd. |
1.450 | % | 08/01/16 | 200 | 201,861 | |||||||||||
Daimler Finance North America LLC, (Germany), Gtd. |
2.300 | % | 01/09/15 | 200 | 202,517 | |||||||||||
|
|
|||||||||||||||
404,378 | ||||||||||||||||
|
|
Banks 6.2% |
||||||||||||||||
Abbey National Treasury Services PLC, (United Kingdom), Bank Gtd. Notes, 144A |
3.875 | % | 11/10/14 | 100 | 101,738 | |||||||||||
Banco Santander Chile, (Chile), Sr. Unsecd. Notes, 144A |
1.124 | %(b) | 04/11/17 | 200 | 200,002 | |||||||||||
Bank of America Corp., Sr. Unsecd. Notes, MTN |
2.000 | % | 01/11/18 | 423 | 423,734 | |||||||||||
Bank of America NA, Sr. Unsecd. Notes |
0.709 | %(b) | 11/14/16 | 800 | 801,806 | |||||||||||
Bank of Nova Scotia, (Canada), Sr. Unsecd. Notes |
0.537 | %(b) | 04/11/17 | 600 | 599,656 | |||||||||||
BB&T Corp., Sr. Unsecd. Notes, MTN |
1.093 | %(b) | 06/15/18 | 300 | 304,508 | |||||||||||
Citigroup, Inc., Sr. Unsecd. Notes |
1.250 | % | 01/15/16 | 600 | 603,337 | |||||||||||
Citigroup, Inc., Sr. Unsecd. Notes |
2.250 | % | 08/07/15 | 200 | 203,695 | |||||||||||
Credit Agricole SA, (France), Sub. Notes, RegS |
8.125 | %(b) | 09/19/33 | 300 | 346,290 | |||||||||||
Deutsche Bank Financial LLC, (Germany), Bank Gtd. Notes, MTN |
5.375 | % | 03/02/15 | 300 | 311,214 | |||||||||||
JPMorgan Chase & Co., Sr. Unsecd. Notes |
0.756 | %(b) | 02/15/17 | 400 | 401,102 | |||||||||||
JPMorgan Chase & Co., Sr. Unsecd. Notes, MTN |
1.100 | % | 10/15/15 | 600 | 602,853 | |||||||||||
JPMorgan Chase & Co., Unsecd. Notes, MTN |
0.779 | %(b) | 04/25/18 | 100 | 99,923 | |||||||||||
JPMorgan Chase Bank NA, Sub. Notes |
1.029 | %(b) | 05/31/17 | EUR | 400 | 552,164 | ||||||||||
Lloyds Bank PLC, (United Kingdom), Jr. Sub. Notes, 144A(d) |
12.000 | %(b) | 12/29/49 | 800 | 1,130,000 | |||||||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA, (Russia), Sr. Unsecd. Notes, 144A |
9.000 | % | 06/11/14 | 300 | 301,500 | |||||||||||
Russian Agricultural Bank OJSC Via RSHB Capital SA, (Russia), Sr. Unsecd. Notes, RegS |
9.000 | % | 06/11/14 | 100 | 100,500 | |||||||||||
VTB Bank OJSC Via VTB Capital SA, (Russia), Sr. Unsecd. Notes, 144A(d) |
6.465 | % | 03/04/15 | 100 | 100,375 | |||||||||||
|
|
|||||||||||||||
7,184,397 | ||||||||||||||||
|
|
|||||||||||||||
Building & Construction |
||||||||||||||||
Urbi Desarrollos Urbanos SAB de CV, (Mexico), Gtd. Notes, 144A(d) |
9.500 | % | 01/21/20 | 100 | 11,250 | |||||||||||
|
|
|||||||||||||||
Capital Markets 0.3% |
||||||||||||||||
Goldman Sachs Group, Inc. (The), Sr. Unsecd. Notes |
0.727 | %(b) | 01/12/15 | 100 | 100,104 | |||||||||||
Goldman Sachs Group, Inc. (The), Sr. Unsecd. Notes |
5.000 | % | 10/01/14 | 200 | 203,586 | |||||||||||
|
|
|||||||||||||||
303,690 | ||||||||||||||||
|
|
|||||||||||||||
Diversified Financial Services 1.4% |
||||||||||||||||
Ally Financial, Inc., Gtd. Notes |
2.750 | % | 01/30/17 | 100 | 101,250 | |||||||||||
Ally Financial, Inc., Gtd. Notes |
5.500 | % | 02/15/17 | 300 | 326,250 | |||||||||||
Ally Financial, Inc., Gtd. Notes |
8.300 | % | 02/12/15 | 400 | 421,500 | |||||||||||
Ford Motor Credit Co. LLC, Sr. Unsecd. Notes |
2.750 | % | 05/15/15 | 400 | 408,453 | |||||||||||
Ford Motor Credit Co. LLC, Sr. Unsecd. Notes |
5.625 | % | 09/15/15 | 200 | 212,843 | |||||||||||
SLM Corp., Sr. Unsecd. Notes, MTN |
6.250 | % | 01/25/16 | 200 | 215,750 | |||||||||||
|
|
|||||||||||||||
1,686,046 | ||||||||||||||||
|
|
|||||||||||||||
Life Sciences Tools & Services 0.2% |
||||||||||||||||
Thermo Fisher Scientific, Inc., Sr. Unsecd. Notes |
1.300 | % | 02/01/17 | 200 | 200,247 | |||||||||||
|
|
|||||||||||||||
Metals & Mining 0.3% |
||||||||||||||||
Anglo American Capital PLC, (United Kingdom), Gtd. Notes, 144A(d) |
1.177 | %(b) | 04/15/16 | 300 | 300,909 | |||||||||||
|
|
|||||||||||||||
Oil, Gas & Consumable Fuels 1.0% |
||||||||||||||||
BP Capital Markets PLC, (United Kingdom), Gtd. Notes |
3.125 | % | 10/01/15 | 400 | 414,697 | |||||||||||
Canadian Natural Resources Ltd., (Canada), Sr. Unsecd. Notes |
0.609 | %(b) | 03/30/16 | 300 | 300,374 | |||||||||||
Gazprom OAO Via Gaz Capital SA, (Russia), Sr. Unsecd. Notes, 144A |
8.125 | % | 07/31/14 | 200 | 202,000 | |||||||||||
Statoil ASA, (Norway), Gtd. Notes |
0.698 | %(b) | 11/08/18 | 300 | 302,137 | |||||||||||
|
|
|||||||||||||||
1,219,208 | ||||||||||||||||
|
|
Pharmaceuticals 0.5% |
||||||||||||||||
Cardinal Health, Inc., Sr. Unsecd. Notes |
6.000 | % | 06/15/17 | 500 | 564,815 | |||||||||||
|
|
|||||||||||||||
Technology Hardware, Storage & Peripherals 0.1% |
|
|||||||||||||||
Apple, Inc., Sr. Unsecd. Notes |
2.850 | % | 05/06/21 | 100 | 100,449 | |||||||||||
|
|
|||||||||||||||
Telecommunications 0.3% |
||||||||||||||||
Verizon Communications, Inc., Sr. Unsecd. Notes |
1.763 | %(b) | 09/15/16 | 200 | 205,818 | |||||||||||
Verizon Communications, Inc., Sr. Unsecd. Notes |
2.500 | % | 09/15/16 | 100 | 103,495 | |||||||||||
|
|
|||||||||||||||
309,313 | ||||||||||||||||
|
|
|||||||||||||||
Tobacco 0.6% |
||||||||||||||||
Altria Group, Inc., Gtd. Notes |
4.125 | % | 09/11/15 | 300 | 313,912 | |||||||||||
BAT International Finance PLC, (United Kingdom), Gtd. Notes, 144A |
9.500 | % | 11/15/18 | 300 | 391,188 | |||||||||||
|
|
|||||||||||||||
705,100 | ||||||||||||||||
|
|
|||||||||||||||
Wireless Telecommunication Services 0.4% |
||||||||||||||||
AT&T, Inc., Sr. Unsecd. Notes |
0.654 | %(b) | 03/30/17 | 200 | 199,887 | |||||||||||
Telefonica Emisiones SAU, (Spain), Gtd. Notes |
6.421 | % | 06/20/16 | 200 | 221,759 | |||||||||||
|
|
|||||||||||||||
421,646 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL CORPORATE BONDS |
13,716,323 | |||||||||||||||
|
|
|||||||||||||||
MUNICIPAL BOND 0.3% |
||||||||||||||||
Texas |
||||||||||||||||
Dallas County Hospital District, Series B, General Obligation Unlimited |
6.171 | % | 08/15/34 | 300 | 331,818 | |||||||||||
|
|
|||||||||||||||
RESIDENTIAL MORTGAGE-BACKED SECURITIES 3.0% |
|
|||||||||||||||
American Home Mortgage Assets Trust, |
0.342 | %(b) | 05/25/46 | 235 | 168,963 | |||||||||||
Bear Stearns Adjustable Rate Mortgage Trust, Series 2007-3, Class 1A1 |
2.952 | %(b) | 05/25/47 | 207 | 172,992 | |||||||||||
Bear Stearns Alt-A Trust, Series 2005-4, |
2.533 | %(b) | 05/25/35 | 127 | 128,771 | |||||||||||
Bear Stearns Alt-A Trust, Series 2006-2, |
2.507 | %(b) | 03/25/36 | 1,129 | 763,748 | |||||||||||
Berica ABS SRL, (Italy), Series 2011-1, Class A1 |
0.613 | %(b) | 12/30/55 | EUR | 320 | 434,144 | ||||||||||
Countrywide Alternative Loan Trust, |
0.367 | %(b) | 07/20/46 | 196 | 118,272 | |||||||||||
Fannie Mae REMICS, Series 1992-146, Class PZ |
8.000 | % | 08/25/22 | 8 | 9,444 | |||||||||||
FHLMC Structured Pass-Through Securities, Series T-61, Class 1A1 |
1.532 | %(b) | 07/25/44 | 313 | 317,528 | |||||||||||
Freddie Mac REMICS, Series 41, Class F |
10.000 | % | 05/15/20 | 7 | 7,677 | |||||||||||
GSR Mortgage Loan Trust, Series 2005-AR6, Class 2A1 |
2.651 | %(b) | 09/25/35 | 120 | 121,555 | |||||||||||
GSR Mortgage Loan Trust, Series 2006-OA1, Class 2A2 |
0.412 | %(b) | 08/25/46 | 780 | 216,374 | |||||||||||
HomeBanc Mortgage Trust, Series 2006-1, |
5.479 | %(b) | 04/25/37 | 463 | 374,391 | |||||||||||
JPMorgan Alternative Loan Trust, |
2.559 | %(b) | 03/25/36 | 388 | 308,863 | |||||||||||
Vendee Mortgage Trust, Series 2000-1, Class 1A |
6.482 | %(b) | 01/15/30 | 77 | 87,570 | |||||||||||
Washington Mutual Mortgage Pass-Through Certificates Trust, Series 2006-AR15, Class 2A |
2.268 | %(b) | 11/25/46 | 200 | 193,593 | |||||||||||
|
|
|||||||||||||||
TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES |
|
3,423,885 | ||||||||||||||
|
|
|||||||||||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS 5.4% |
|
|||||||||||||||
Federal Home Loan Mortgage Corp. |
2.354 | %(b) | 08/01/23 | 4 | 4,586 | |||||||||||
Federal Home Loan Mortgage Corp. |
2.358 | %(b) | 03/01/36 | 114 | 120,548 |
Federal Home Loan Mortgage Corp. |
5.500% | 01/01/38 | 34 | 37,265 | ||||||||||
Federal National Mortgage Assoc. |
2.260%(b) | 06/01/35 | 91 | 96,797 | ||||||||||
Federal National Mortgage Assoc. |
3.809%(b) | 05/01/36 | 22 | 23,430 | ||||||||||
Federal National Mortgage Assoc. |
4.500% | 03/01/24-07/01/25 | 420 | 447,822 | ||||||||||
Federal National Mortgage Assoc. |
5.000% | 06/01/23 | 10 | 11,112 | ||||||||||
Federal National Mortgage Assoc. |
5.000% | TBA | 5,000 | 5,482,812 | ||||||||||
Federal National Mortgage Assoc. |
7.500% | 01/01/32 | 34 | 35,204 | ||||||||||
Government National Mortgage Assoc. |
1.625%(b) | 09/20/22 | 3 | 3,363 | ||||||||||
Government National Mortgage Assoc. |
4.500% | 08/15/33-09/15/33 | 15 | 16,158 | ||||||||||
Government National Mortgage Assoc. |
8.500% | 02/20/30-06/15/30 | 23 | 25,235 | ||||||||||
|
|
|||||||||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS |
|
6,304,332 | ||||||||||||
|
|
|||||||||||||
U.S. TREASURY OBLIGATIONS 25.1% |
||||||||||||||
U.S. Treasury Inflationary Indexed Bonds, TIPS |
0.125% | 01/15/22-01/15/23 | 2,300 | 2,349,083 | ||||||||||
U.S. Treasury Inflationary Indexed Bonds, TIPS |
0.375% | 07/15/23 | 1,500 | 1,513,228 | ||||||||||
U.S. Treasury Inflationary Indexed Bonds, TIPS |
2.375% | 01/15/25 | 2,000 | 2,965,779 | ||||||||||
U.S. Treasury Inflationary Indexed Bonds, TIPS |
2.500% | 01/15/29 | 300 | 405,105 | ||||||||||
U.S. Treasury Notes |
0.099%(b) | 04/30/16 | 2,000 | 2,000,000 | ||||||||||
U.S. Treasury Notes |
0.500% | 07/31/17 | 100 | 98,375 | ||||||||||
U.S. Treasury Notes |
0.625% | 11/15/16-05/31/17 | 400 | 397,954 | ||||||||||
U.S. Treasury Notes |
0.750% | 12/31/17-02/28/18 | 200 | 196,461 | ||||||||||
U.S. Treasury Notes |
0.875% | 09/15/16-04/30/17 | 600 | 601,328 | ||||||||||
U.S. Treasury Notes |
1.000% | 03/31/17 | 100 | 100,437 | ||||||||||
U.S. Treasury Notes |
1.250% | 11/30/18 | 800 | 788,750 | ||||||||||
U.S. Treasury Notes |
1.375% | 07/31/18 | 2,700 | 2,693,461 | ||||||||||
U.S. Treasury Notes |
1.500% | 02/28/19 | 5,900 | 5,862,205 | ||||||||||
U.S. Treasury Notes |
1.625% | 03/31/19-04/30/19 | 9,100 | 9,082,874 | ||||||||||
|
|
|||||||||||||
TOTAL U.S. TREASURY OBLIGATIONS |
|
29,055,040 | ||||||||||||
|
|
|||||||||||||
FOREIGN GOVERNMENT BONDS 3.9% |
||||||||||||||
Italy Buoni Poliennali del Tesoro, (Italy), |
2.250% | 05/15/16 | EUR | 200 | 285,297 | |||||||||
Italy Buoni Poliennali del Tesoro, (Italy), |
3.750% | 08/01/15 | EUR | 1,100 | 1,582,984 | |||||||||
Italy Buoni Poliennali del Tesoro, (Italy), |
4.500% | 07/15/15 | EUR | 300 | 434,819 | |||||||||
Italy Certificati di Credito del Tesoro, (Italy), Bonds |
0.932%(c) | 12/31/15 | EUR | 100 | 136,851 | |||||||||
Italy Certificati di Credito del Tesoro, (Italy), Unsecd. Notes(a) |
0.704%(c) | 06/30/15 | EUR | 100 | 137,569 | |||||||||
Spain Government Bond, (Spain), |
3.250% | 04/30/16 | EUR | 100 | 145,519 | |||||||||
Spain Government Bond, (Spain), |
3.300% | 07/30/16 | EUR | 200 | 292,512 | |||||||||
Spain Government Bond, (Spain), |
3.750% | 10/31/15 | EUR | 500 | 725,319 | |||||||||
Spain Government Bond, (Spain), |
4.000% | 07/30/15 | EUR | 500 | 722,149 | |||||||||
|
|
|||||||||||||
TOTAL FOREIGN GOVERNMENT BONDS |
|
4,463,019 | ||||||||||||
|
|
TOTAL LONG-TERM INVESTMENTS |
|
110,118,270 | ||||||||||||
|
|
|||||||||||||
SHORT-TERM INVESTMENTS 14.4% |
|
|||||||||||||
REPURCHASE AGREEMENTS(f) 10.0% |
|
|||||||||||||
Barclays Capital, Inc., 0.05% dated 04/30/14, due 05/01/14 in the amount of $6,000,008 |
6,000 | 6,000,000 | ||||||||||||
Morgan Stanley & Co. LLC, 0.06% dated 04/30/14, due 05/01/14 in the amount of $5,600,009 |
5,600 | 5,600,000 | ||||||||||||
|
|
|||||||||||||
TOTAL REPURCHASE AGREEMENTS |
|
11,600,000 | ||||||||||||
|
|
|||||||||||||
Shares | ||||||||||||||
AFFILIATED MONEY MARKET MUTUAL FUND 2.7% |
|
|||||||||||||
Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund |
3,116,695 | 3,116,695 | ||||||||||||
|
|
|||||||||||||
Principal Amount (000)# |
||||||||||||||
COMMERCIAL PAPER 1.6% |
||||||||||||||
Glencore Funding LLC |
0.690% | 10/07/14 | 700 | 698,911 | ||||||||||
Macquarie Bank Ltd. |
0.559% | 05/01/15 | 400 | 400,192 | ||||||||||
Vodafone Group |
0.550% | 04/01/15 | 700 | 696,596 | ||||||||||
|
|
|||||||||||||
TOTAL COMMERCIAL PAPER |
1,795,699 | |||||||||||||
|
|
|||||||||||||
FOREIGN TREASURY OBLIGATION(h) 0.1% |
|
|||||||||||||
Mexican Cetes, (Mexico), Sr. Unsecd. Notes |
3.65% | 06/26/14 | MXN | 19,300 | 146,767 | |||||||||
|
|
|||||||||||||
TOTAL SHORT-TERM INVESTMENTS |
|
16,659,161 | ||||||||||||
|
|
|||||||||||||
TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 109.7% |
|
126,777,431 | ||||||||||||
|
|
|||||||||||||
Counterparty | Notional Amount (000)# |
|||||||||||||
OPTIONS WRITTEN(a) |
||||||||||||||
Call Options |
||||||||||||||
10 Year U.S. Treasury Notes, expiring 05/23/14, Strike Price $125.00 |
200 | (719 | ) | |||||||||||
Interest Rate Swap Options, |
|
Morgan Stanley |
|
500 | | |||||||||
Interest Rate Swap Options, |
|
Goldman Sachs & Co. |
|
400 | | |||||||||
Interest Rate Swap Options, |
|
Morgan Stanley |
|
400 | (26 | ) |
Interest Rate Swap Options, |
Deutsche Bank AG | 500 | (1,149 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 400 | (2,280 | ) | ||||||
Interest Rate Swap Options, |
JPMorgan Chase | 400 | (341 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 500 | (426 | ) | ||||||
Interest Rate Swap Options, |
JPMorgan Chase | 700 | (862 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 1,900 | (4,463 | ) | ||||||
|
|
|||||||||
(10,266 | ) | |||||||||
|
|
|||||||||
Put Options |
||||||||||
5 Year CDX.O IG.21 V1, expiring 06/18/14, Strike Price $60.00 |
JPMorgan Chase | 100 | (12 | ) | ||||||
10 Year U.S. Treasury Notes, expiring 05/23/14, Strike Price $122.00 |
200 | (125 | ) | |||||||
Interest Rate Swap Options, |
Goldman Sachs & Co. | 400 | (157 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 400 | (1,272 | ) | ||||||
Interest Rate Swap Options, |
Deutsche Bank AG | 500 | (817 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 400 | (729 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 700 | (746 | ) | ||||||
Interest Rate Swap Options, |
JPMorgan Chase | 700 | (7,905 | ) | ||||||
Interest Rate Swap Options, |
Morgan Stanley | 1,900 | (13,196 | ) | ||||||
|
|
|||||||||
(24,959 | ) | |||||||||
|
|
|||||||||
TOTAL OPTIONS WRITTEN |
(35,225 | ) | ||||||||
|
|
|||||||||
TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 109.7% |
|
126,742,206 | ||||||||
Liabilities in excess of other assets(i) (9.7)% |
(11,172,002 | ) | ||||||||
|
|
|||||||||
NET ASSETS 100.0% |
$ | 115,570,204 | ||||||||
|
|
The following abbreviations are used in the portfolio descriptions:
144A | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. |
RegS | Regulation S. Security was purchased pursuant to Regulation S and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. | |
ADR | American Depositary Receipt | |
CDO | Collateralized Debt Obligation | |
CDX | Credit Derivative Index | |
FHLMC | Federal Home Loan Mortgage Corp. | |
iTraxx | International Credit Derivative Index | |
LIBOR | London Interbank Offered Rate | |
MTN | Medium Term Note | |
REMICS | Real Estate Mortgage Investment Conduit Security | |
TBA | To Be Announced | |
TIPS | Treasury Inflation Protected Securities | |
BRL | Brazilian Real | |
EUR | Euro | |
JPY | Japanese Yen | |
MXN | Mexican Peso | |
NOK | Norwegian Krone | |
# | Principal and notional amount is shown in U.S. dollars unless otherwise stated. | |
(a) | Non-income producing security. | |
(b) | Variable rate instrument. The interest rate shown reflects the rate in effect at April 30, 2014. | |
(c) | Represents zero coupon bond or principal only securities. Rate represents yield to maturity at purchase date. | |
(d) | Indicates a security or securities that have been deemed illiquid. | |
(e) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund. | |
(f) | The aggregate value of Repurchase Agreements is $11,600,000. Repurchase agreements are collateralized by U.S. Treasury Notes (coupon rates 0.075% - 2.500%, maturity dates 04/30/15 - 01/31/16), with the aggregate value, including accrued interest, of $11,836,810. Repurchase Agreements are subjects to contractual netting arrangements. For further detail on individual repurchase agreements and the corresponding counterparty, see the Schedule of Investments. | |
(g) | The United States federal income tax basis of investments and net unrealized appreciation were as follows: |
Tax Basis |
$ | 112,998,585 | ||
|
|
|||
Appreciation |
14,637,777 | |||
Depreciation |
(858,931 | ) | ||
|
|
|||
Net Unrealized Appreciation |
$ | 13,778,846 | ||
|
|
The book basis may differ from tax basis due to certain tax related adjustments.
(h) | Rate shown is the effective yield at purchase date. | |
(i) | Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end: |
Futures contracts outstanding at April 30, 2014:
Number of Contracts |
Type |
Expiration |
Value at Trade Date |
Value at April 30, 2014 |
Unrealized Appreciation (Depreciation)(1) |
|||||||||||
Long Positions: |
||||||||||||||||
20 | 90 Day Euro Dollar |
Dec. 2014 | $ | 4,982,838 | $ | 4,986,000 | $ | 3,162 | ||||||||
1 | 90 Day Euro Dollar |
Mar. 2015 | 248,613 | 249,075 | 462 | |||||||||||
28 | 90 Day Euro Dollar |
Jun. 2015 | 6,959,384 | 6,961,850 | 2,466 | |||||||||||
66 | 90 Day Euro Dollar |
Sep. 2015 | 16,308,090 | 16,372,950 | 64,860 | |||||||||||
97 | 90 Day Euro Dollar |
Dec. 2015 | 23,994,630 | 23,997,800 | 3,170 | |||||||||||
36 | 90 Day Euro Dollar |
Mar. 2016 | 8,864,322 | 8,879,850 | 15,528 | |||||||||||
14 | 90 Day Euro Dollar |
Jun. 2016 | 3,434,370 | 3,442,775 | 8,405 | |||||||||||
4 | 90 Day Euro Dollar |
Sep. 2016 | 983,368 | 980,800 | (2,568 | ) | ||||||||||
7 | 2 Year U.S. Treasury Notes |
Jun. 2014 | 1,538,328 | 1,539,125 | 797 | |||||||||||
77 | 5 Year U.S. Treasury Notes |
Jun. 2014 | 9,217,289 | 9,197,891 | (19,398 | ) | ||||||||||
27 | 10 Year U.S. Treasury Notes |
Jun. 2014 | 3,351,453 | 3,359,391 | 7,938 | |||||||||||
|
|
|||||||||||||||
$ | 84,822 | |||||||||||||||
|
|
(1) | Cash of $204,000 has been segregated with Goldman Sachs & Co. to cover requirements for open futures contracts at April 30, 2014. |
Forward foreign currency exchange contracts outstanding at April 30, 2014:
Purchase Contracts |
Counterparty |
Notional Amount (000) |
Value
at Settlement Date Payable |
Current Value | Unrealized Appreciation (Depreciation) |
|||||||||||||||||
Brazilian Real, |
UBS AG | BRL | 171 | $ | 76,803 | $ | 76,480 | $ | (323 | ) | ||||||||||||
Euro, |
BNP Paribas | EUR | 238 | 326,193 | 330,187 | 3,994 | ||||||||||||||||
Expiring 05/02/14 |
Barclays Capital Group | EUR | 1,519 | 2,091,802 | 2,107,371 | 15,569 | ||||||||||||||||
Expiring 05/02/14 |
UBS AG | EUR | 3,946 | 5,451,399 | 5,474,449 | 23,050 | ||||||||||||||||
Mexican Peso, |
||||||||||||||||||||||
Expiring 05/14/14 |
Hong Kong & Shanghai Bank | MXN | 1,338 | 100,000 | 102,153 | 2,153 | ||||||||||||||||
Expiring 05/14/14 |
Deutsche Bank AG | MXN | 1,338 | 100,000 | 102,156 | 2,156 | ||||||||||||||||
Expiring 08/25/14 |
Goldman Sachs & Co. | MXN | 2,195 | 166,597 | 166,138 | (459 | ) | |||||||||||||||
Norwegian Krone, |
||||||||||||||||||||||
Expiring 05/13/14 |
Citigroup Global Markets | NOK | 65 | 10,568 | 10,929 | 361 | ||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
$ | 8,323,362 | $ | 8,369,863 | $ | 46,501 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
Sale Contracts |
Counterparty |
Notional Amount (000) |
Value
at Settlement Date Receivable |
Current Value | Unrealized Appreciation (Depreciation) |
|||||||||||||||||
Brazilian Real, |
UBS AG | BRL | 82 | $ | 37,000 | $ | 36,676 | $ | 324 | |||||||||||||
Expiring 05/05/14 |
UBS AG | BRL | 89 | 37,191 | 39,804 | (2,613 | ) | |||||||||||||||
Expiring 06/03/14 |
UBS AG | BRL | 171 | 76,173 | 75,776 | 397 | ||||||||||||||||
Euro, |
Royal Bank of Canada | EUR | 5,286 | 7,282,147 | 7,333,486 | (51,339 | ) | |||||||||||||||
Expiring 05/02/14 |
BNP Paribas | EUR | 299 | 412,993 | 414,815 | (1,822 | ) | |||||||||||||||
Expiring 05/02/14 |
Goldman Sachs & Co. | EUR | 99 | 136,475 | 137,347 | (872 | ) | |||||||||||||||
Expiring 05/02/14 |
UBS AG | EUR | 19 | 26,095 | 26,359 | (264 | ) | |||||||||||||||
Expiring 06/03/14 |
UBS AG | EUR | 3,946 | 5,450,866 | 5,474,032 | (23,166 | ) | |||||||||||||||
Japanese Yen, |
||||||||||||||||||||||
Expiring 05/13/14 |
Citigroup Global Markets | JPY | 56,600 | 555,033 | 553,672 | 1,361 | ||||||||||||||||
Mexican Peso, |
||||||||||||||||||||||
Expiring 05/14/14 |
BNP Paribas | MXN | 482 | 35,927 | 36,766 | (839 | ) | |||||||||||||||
Expiring 05/14/14 |
Goldman Sachs & Co. | MXN | 2,195 | 167,935 | 167,543 | 392 | ||||||||||||||||
Expiring 06/26/14 |
BNP Paribas | MXN | 1,897 | 144,245 | 144,285 | (40 | ) | |||||||||||||||
|
|
|
|
|
|
|||||||||||||||||
$ | 14,362,080 | $ | 14,440,561 | $ | (78,481 | ) | ||||||||||||||||
|
|
|
|
|
|
Interest rate swap agreements outstanding at April 30, 2014:
Notional Amount (000) |
Termination Date |
Fixed Rate |
Floating Rate |
Fair Value | Upfront Premiums Paid (Received) |
Unrealized Appreciation |
Counterparty | |||||||||||||||||||||
Over-the-counter swap agreements: | ||||||||||||||||||||||||||||
BRL | 2,900 | 01/02/15 | 9.890% | Brazilian overnight interbank lending rate(1) | $ | 27,257 | $ | | $ | 27,257 | Bank of America | |||||||||||||||||
BRL | 200 | 01/02/15 | 9.930% | Brazilian overnight interbank lending rate(1) | 1,965 | 23 | 1,942 | Morgan Stanley & Co. | ||||||||||||||||||||
MXN | 2,000 | 01/18/19 | 5.700% | Brazilian overnight interbank lending rate(1) | 2,106 | (511 | ) | 2,617 | Bank of America | |||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
$ | 31,328 | $ | (488 | ) | $ | 31,816 | ||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
Notional |
Termination Date |
Fixed Rate |
Floating Rate |
Value at April 30, 2014 |
Value at Trade Date |
Unrealized Depreciation |
||||||||||||||||||||||
Exchange-traded swap agreements: | ||||||||||||||||||||||||||||
3,800 | 09/21/17 | 3.000% | 3 month LIBOR(1) | $ | 27,904 | $ | 38,974 | $ | (11,070 | ) | ||||||||||||||||||
2,400 | 12/18/43 | 3.500% | 3 month LIBOR(1) | (44,213 | ) | 125,203 | (169,416 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||
$ | (16,309 | ) | $ | 164,177 | $ | (180,486 | ) | |||||||||||||||||||||
|
|
|
|
|
|
(1) | Fund pays the floating rate and receives the fixed rate. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
Credit default swap agreements outstanding at April 30, 2014:
Reference Entity/Obligation |
Termination Date |
Fixed Rate |
Notional Amount (000)(4)# |
Fair Value(3) |
Upfront Premiums Paid (Received) |
Unrealized
Appreciation |
Counterparty | |||||||||||||||||||
Over-the-counter credit default swaps on credit indicesSell Protection (1): | ||||||||||||||||||||||||||
Dow Jones CDX IG5 10Y Index |
12/20/15 | 0.463% | 1,500 | $ | 6,454 | $ | | $ | 6,454 | Morgan Stanley & Co. | ||||||||||||||||
Dow Jones CDX IG5 10Y Index |
12/20/15 | 0.458% | 470 | 1,981 | | 1,981 | Morgan Stanley & Co. | |||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||
$ | 8,435 | $ | | $ | 8,435 | |||||||||||||||||||||
|
|
|
|
|
|
Reference Entity/Obligation |
Termination Date |
Fixed Rate |
Notional Amount (000)(4)# |
Implied Credit Spread at April 30, 2014(5) |
Fair Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation |
Counterparty | ||||||||||||||||||||||
Over-the-counter credit default swaps on corporate and/or sovereign issuesSell Protection (1): | ||||||||||||||||||||||||||||||
Berkshire Hathaway, Inc. |
06/20/16 | 1.000% | 300 | 0.002 | % | $ | 5,661 | $ | (5,712 | ) | $ | 11,373 | Deutsche Bank AG | |||||||||||||||||
Federal Republic of Brazil |
09/20/16 | 1.000% | 1,400 | 0.658 | % | 11,530 | (15,052 | ) | 26,582 | JPMorgan Chase | ||||||||||||||||||||
Italy Government |
06/20/19 | 1.000% | 500 | 1.138 | % | (2,792 | ) | (9,092 | ) | 6,300 | Deutsche Bank AG | |||||||||||||||||||
Italy Government |
06/20/19 | 1.000% | 1,600 | 1.138 | % | (8,931 | ) | (28,345 | ) | 19,414 | Bank of America | |||||||||||||||||||
Japan Government |
09/20/16 | 1.000% | 400 | 0.203 | % | 7,967 | 6,116 | 1,851 | Bank of America | |||||||||||||||||||||
United Mexican States |
09/20/16 | 1.000% | 1,400 | 0.332 | % | 22,493 | 4,306 | 18,187 | JPMorgan Chase | |||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||
$ | 35,928 | $ | (47,779 | ) | $ | 83,707 | ||||||||||||||||||||||||
|
|
|
|
|
|
The Fund entered into credit default swap agreements on corporate issues, sovereign issues, asset-backed securities and credit indices as the protection seller to provide a measure of protection against the current portfolio of investments exposure to market conditions, or to take an active position with respect to the likelihood of a particular issuers default or the referenced entitys credit soundness.
Reference Entity/Obligation |
Termination Date |
Fixed Rate | Notional Amount (000)(4)# |
Value at April 30, 2014 |
Value at Trade Date |
Unrealized Appreciation(6) |
||||||||||||||||||
Exchange-traded credit default swapsBuy Protection (2): |
|
|||||||||||||||||||||||
Dow Jones CDX IG22 5Y Index |
06/20/19 | 1.000% | 1,000 | $ | 18,668 | $ | 14,736 | $ | 3,932 | |||||||||||||||
iTraxx Main21 5Y Index |
06/20/19 | 1.000% | EUR | 800 | 17,575 | 10,501 | 7,074 | |||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||
$ | 36,243 | $ | 25,237 | $ | 11,006 | |||||||||||||||||||
|
|
|
|
|
|
(1) | If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | The fair value of credit default swap agreements on asset-backed securities and credit indices serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, represents a deterioration of the referenced entitys credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
(4) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(5) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements on corporate issues or sovereign issues of an emerging country as of reporting date serve as an indicator of the current status of the payment/performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entitys credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
(6) | Cash of $66,000 has been segregated with Morgan Stanley & Co. to cover requirements for open contracts at April 30, 2014. |
# | Notional amount is shown in U.S. dollars unless otherwise stated. |
Various inputs are used in determining the value of the Funds investments. These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices generally in active markets for identical securities.
Level 2 - other significant observable inputs including, but not limited to, quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates, and amortized cost.
Level 3 - significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
The following is a summary of the inputs used as of April 30, 2014 in valuing such portfolio securities:
Level 1 | Level 2 | Level 3 | ||||||||||
Investments in Securities |
||||||||||||
Common Stocks |
$ | 48,402,366 | $ | 481,212 | $ | | ||||||
Asset-Backed Securities |
||||||||||||
Collateralized Debt Obligations |
| 962,003 | 762,474 | |||||||||
Non-Residential Mortgage-Backed Security |
| 836,086 | | |||||||||
Residential Mortgage-Backed Securities |
| 1,379,712 | | |||||||||
Corporate Bonds |
| 13,716,323 | | |||||||||
Municipal Bond |
| 331,818 | |
Residential Mortgage-Backed Securities |
| 3,423,885 | | |||||||||
U.S. Government Agency Obligations |
| 6,304,332 | | |||||||||
U.S. Treasury Obligations |
| 29,055,040 | | |||||||||
Foreign Government Bonds |
| 4,463,019 | | |||||||||
Repurchase Agreements |
| 11,600,000 | | |||||||||
Affiliated Money Market Mutual Fund |
3,116,695 | | | |||||||||
Commercial Paper |
| 1,795,699 | | |||||||||
Foreign Treasury Obligation |
| 146,767 | | |||||||||
Options Written |
(844 | ) | (34,381 | ) | | |||||||
Other Financial Instruments* |
||||||||||||
Futures Contracts |
84,822 | | | |||||||||
Forward Foreign Currency Exchange Contracts |
| (31,980 | ) | | ||||||||
Interest Rate Swap Agreements |
| (148,670 | ) | | ||||||||
Credit Default Swap Agreements |
| 103,148 | | |||||||||
|
|
|
|
|
|
|||||||
Total |
$ | 51,603,039 | $ | 74,384,013 | $ | 762,474 | ||||||
|
|
|
|
|
|
The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:
Asset-Backed Securities |
||||
Balance as of 7/31/13 |
$ | 1,138,296 | ||
Accrued discounts/premiums |
2,637 | |||
Realized gain (loss) |
4,297 | |||
Change in unrealized appreciation (depreciation)** |
(46,305 | ) | ||
Purchases |
| |||
Sales |
| |||
Transfers into Level 3 |
| |||
Transfers out of Level 3 |
(336,451 | ) | ||
|
|
|||
Balance as of 04/30/14 |
$ | 762,474 | ||
|
|
* | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are recorded at the unrealized appreciation/depreciation on the instrument. |
** | Of which, $(46,305) was included in Net Assets relating to securities held at the reporting period end. |
Level 3 securities as presented in the table above are being fair valued using pricing methodologies approved by the Board of Trustees, which contain unobservable inputs. Such methodologies include, but are not limited to, using pricing provided by a single broker/dealer, the cost of the investment, and prices of any recent transactions or bids/offers for such securities or any comparable securities.
It is the Funds policy to recognize transfers in and transfers out at the fair value as of the beginning of the period. At the reporting period end, 1 Asset-Backed Security transferred out of Level 3 as a result of being valued by an independent pricing vendor.
The following is a summary of the fair value of the derivative instruments utilized by the Fund as of April 30, 2014 categorized by risk exposure:
Derivative Fair Value at 04/30/14 |
||||
Credit contracts |
$ | 103,136 | ||
Foreign exchange contracts |
(31,980 | ) | ||
Interest rate contracts |
(99,061 | ) | ||
|
|
|||
Total |
$ | (27,905 | ) | |
|
|
Prudential Defensive Equity Fund
Schedule of Investments
as of April 30, 2014 (Unaudited)
Shares | Value | |||||||
LONG-TERM INVESTMENTS 95.8% |
||||||||
COMMON STOCKS |
||||||||
Aerospace & Defense 4.5% |
||||||||
Boeing Co. (The) |
17,040 | $ | 2,198,501 | |||||
General Dynamics Corp. |
8,100 | 886,545 | ||||||
Honeywell International, Inc. |
19,600 | 1,820,840 | ||||||
L-3 Communications Holdings, Inc. |
2,140 | 246,892 | ||||||
Lockheed Martin Corp. |
6,730 | 1,104,662 | ||||||
Northrop Grumman Corp. |
5,400 | 656,154 | ||||||
Precision Castparts Corp. |
3,620 | 916,186 | ||||||
Raytheon Co. |
7,900 | 754,292 | ||||||
Rockwell Collins, Inc. |
3,400 | 264,010 | ||||||
Textron, Inc. |
7,000 | 286,300 | ||||||
United Technologies Corp. |
20,980 | 2,482,563 | ||||||
|
|
|||||||
11,616,945 | ||||||||
|
|
|||||||
Air Freight & Logistics 1.2% |
||||||||
C.H. Robinson Worldwide, Inc. |
3,700 | 217,930 | ||||||
Expeditors International of Washington, Inc. |
5,000 | 206,200 | ||||||
FedEx Corp. |
6,920 | 942,850 | ||||||
United Parcel Service, Inc. (Class B Stock) |
17,680 | 1,741,480 | ||||||
|
|
|||||||
3,108,460 | ||||||||
|
|
|||||||
Airlines 0.5% |
||||||||
Delta Air Lines, Inc. |
21,100 | 777,113 | ||||||
Southwest Airlines Co. |
17,400 | 420,558 | ||||||
|
|
|||||||
1,197,671 | ||||||||
|
|
|||||||
Auto Components 0.3% |
||||||||
BorgWarner, Inc. |
2,760 | 171,506 | ||||||
Delphi Automotive PLC (United Kingdom) |
3,400 | 227,256 | ||||||
Goodyear Tire & Rubber Co. (The) |
3,000 | 75,600 | ||||||
Johnson Controls, Inc. |
8,100 | 365,634 | ||||||
|
|
|||||||
839,996 | ||||||||
|
|
|||||||
Automobiles 0.6% |
||||||||
Ford Motor Co. |
47,900 | 773,585 | ||||||
General Motors Co. |
15,800 | 544,784 | ||||||
Harley-Davidson, Inc. |
2,700 | 199,638 | ||||||
|
|
|||||||
1,518,007 | ||||||||
|
|
|||||||
Banks 2.8% |
||||||||
Bank of America Corp. |
75,900 | 1,149,126 | ||||||
BB&T Corp. |
5,200 | 194,116 | ||||||
Citigroup, Inc. |
21,800 | 1,044,438 | ||||||
Comerica, Inc. |
1,400 | 67,536 | ||||||
Fifth Third Bancorp |
6,200 | 127,782 | ||||||
Huntington Bancshares, Inc. |
6,300 | 57,708 | ||||||
JPMorgan Chase & Co. |
27,200 | 1,522,656 | ||||||
KeyCorp |
6,600 | 90,024 | ||||||
M&T Bank Corp. |
970 | 118,350 | ||||||
PNC Financial Services Group, Inc. (The) |
3,900 | 327,756 | ||||||
Regions Financial Corp. |
10,400 | 105,456 | ||||||
SunTrust Banks, Inc. |
3,900 | 149,214 | ||||||
U.S. Bancorp |
13,100 | 534,218 | ||||||
Wells Fargo & Co. |
34,400 | 1,707,616 | ||||||
Zions Bancorporation |
1,400 | 40,488 | ||||||
|
|
|||||||
7,236,484 | ||||||||
|
|
Beverages 3.9% |
||||||||
Beam, Inc. |
4,600 | 383,962 | ||||||
Brown-Forman Corp. (Class B Stock) |
4,500 | 403,740 | ||||||
Coca-Cola Co. (The) |
104,900 | 4,278,871 | ||||||
Coca-Cola Enterprises, Inc. |
6,600 | 299,904 | ||||||
Constellation Brands, Inc. (Class A Stock)* |
4,600 | 367,264 | ||||||
Dr. Pepper Snapple Group, Inc. |
5,500 | 304,810 | ||||||
Molson Coors Brewing Co. (Class B Stock) |
4,400 | 263,868 | ||||||
Monster Beverage Corp.* |
3,700 | 247,752 | ||||||
PepsiCo, Inc. |
42,200 | 3,624,558 | ||||||
|
|
|||||||
10,174,729 | ||||||||
|
|
|||||||
Biotechnology 3.1% |
||||||||
Alexion Pharmaceuticals, Inc.* |
3,930 | 621,726 | ||||||
Amgen, Inc. |
15,000 | 1,676,250 | ||||||
Biogen Idec, Inc.* |
4,700 | 1,349,464 | ||||||
Celgene Corp.* |
8,070 | 1,186,371 | ||||||
Gilead Sciences, Inc.* |
30,600 | 2,401,794 | ||||||
Regeneron Pharmaceuticals, Inc.* |
1,570 | 466,117 | ||||||
Vertex Pharmaceuticals, Inc.* |
4,700 | 318,190 | ||||||
|
|
|||||||
8,019,912 | ||||||||
|
|
|||||||
Building Products 0.1 % |
||||||||
Allegion PLC |
2,266 | 111,827 | ||||||
Masco Corp. |
8,800 | 176,792 | ||||||
|
|
|||||||
288,619 | ||||||||
|
|
|||||||
Capital Markets 1.0% |
||||||||
Ameriprise Financial, Inc. |
1,400 | 156,282 | ||||||
Bank of New York Mellon Corp. (The) |
8,200 | 277,734 | ||||||
BlackRock, Inc. |
920 | 276,920 | ||||||
Charles Schwab Corp. (The) |
8,500 | 225,675 | ||||||
E*TRADE Financial Corp.* |
2,200 | 49,390 | ||||||
Franklin Resources, Inc. |
2,990 | 156,526 | ||||||
Goldman Sachs Group, Inc. (The) |
3,040 | 485,853 | ||||||
Invesco Ltd. |
3,200 | 112,672 | ||||||
Legg Mason, Inc. |
800 | 37,512 | ||||||
Morgan Stanley |
10,100 | 312,393 | ||||||
Northern Trust Corp. |
1,700 | 102,425 | ||||||
State Street Corp. |
3,200 | 206,592 | ||||||
T. Rowe Price Group, Inc. |
1,900 | 156,047 | ||||||
|
|
|||||||
2,556,021 | ||||||||
|
|
|||||||
Chemicals 1.4% |
||||||||
Air Products & Chemicals, Inc. |
1,790 | 210,361 | ||||||
Airgas, Inc. |
560 | 59,506 | ||||||
CF Industries Holdings, Inc. |
470 | 115,230 | ||||||
Dow Chemical Co. (The) |
10,200 | 508,980 | ||||||
E.I. du Pont de Nemours & Co. |
7,800 | 525,096 | ||||||
Eastman Chemical Co. |
1,300 | 113,321 | ||||||
Ecolab, Inc. |
2,280 | 238,579 | ||||||
FMC Corp. |
1,100 | 84,700 | ||||||
International Flavors & Fragrances, Inc. |
700 | 68,964 | ||||||
LyondellBasell Industries NV (Class A Stock) |
3,700 | 342,250 | ||||||
Monsanto Co. |
4,430 | 490,401 | ||||||
Mosaic Co. (The) |
2,800 | 140,112 | ||||||
PPG Industries, Inc. |
1,170 | 226,535 | ||||||
Praxair, Inc. |
2,480 | 323,764 | ||||||
Sherwin-Williams Co. (The) |
720 | 143,885 | ||||||
Sigma-Aldrich Corp. |
1,000 | 96,210 | ||||||
|
|
|||||||
3,687,894 | ||||||||
|
|
|||||||
Commercial Services & Supplies 0.8% |
||||||||
ADT Corp. (The) |
4,500 | 136,080 | ||||||
Cintas Corp. |
2,500 | 147,325 |
Iron Mountain, Inc. |
4,200 | 119,448 | ||||||
Pitney Bowes, Inc. |
5,000 | 134,000 | ||||||
Republic Services, Inc. |
6,700 | 235,103 | ||||||
Stericycle, Inc.* |
2,120 | 246,853 | ||||||
Tyco International Ltd. |
11,400 | 466,260 | ||||||
Waste Management, Inc. |
10,800 | 480,060 | ||||||
|
|
|||||||
1,965,129 | ||||||||
|
|
|||||||
Communications Equipment 1.1% |
||||||||
Cisco Systems, Inc. |
48,600 | 1,123,146 | ||||||
F5 Networks, Inc.* |
710 | 74,671 | ||||||
Harris Corp. |
1,000 | 73,520 | ||||||
Juniper Networks, Inc.* |
4,700 | 116,043 | ||||||
Motorola Solutions, Inc. |
2,100 | 133,518 | ||||||
QUALCOMM, Inc. |
16,000 | 1,259,360 | ||||||
|
|
|||||||
2,780,258 | ||||||||
|
|
|||||||
Construction & Engineering 0.3% |
||||||||
Fluor Corp. |
4,000 | 302,800 | ||||||
Jacobs Engineering Group, Inc.* |
3,300 | 190,410 | ||||||
Quanta Services, Inc.* |
5,400 | 190,512 | ||||||
|
|
|||||||
683,722 | ||||||||
|
|
|||||||
Construction Materials |
||||||||
Vulcan Materials Co. |
1,100 | 70,983 | ||||||
|
|
|||||||
Consumer Finance 0.4% |
||||||||
American Express Co. |
6,600 | 577,038 | ||||||
Capital One Financial Corp. |
4,200 | 310,380 | ||||||
Discover Financial Services |
3,400 | 190,060 | ||||||
SLM Corp. |
3,200 | 82,400 | ||||||
|
|
|||||||
1,159,878 | ||||||||
|
|
|||||||
Containers & Packaging 0.1% |
||||||||
Avery Dennison Corp. |
800 | 38,928 | ||||||
Ball Corp. |
1,200 | 67,428 | ||||||
Bemis Co., Inc. |
800 | 32,192 | ||||||
MeadWestvaco Corp. |
1,400 | 54,698 | ||||||
Owens-Illinois, Inc.* |
1,400 | 44,492 | ||||||
Sealed Air Corp. |
1,600 | 54,896 | ||||||
|
|
|||||||
292,634 | ||||||||
|
|
|||||||
Distributors 0.1% |
||||||||
Genuine Parts Co. |
1,900 | 165,528 | ||||||
|
|
|||||||
Diversified Consumer Services 0.1% |
||||||||
Graham Holdings Co. (Class B Stock) |
60 | 40,274 | ||||||
H&R Block, Inc. |
3,300 | 93,786 | ||||||
|
|
|||||||
134,060 | ||||||||
|
|
|||||||
Diversified Financial Services 0.9% |
||||||||
Berkshire Hathaway, Inc. (Class B Stock)* |
12,940 | 1,667,319 | ||||||
CME Group, Inc. |
2,300 | 161,897 | ||||||
IntercontinentalExchange Group, Inc. |
846 | 172,956 | ||||||
Leucadia National Corp. |
2,300 | 58,696 | ||||||
McGraw-Hill Financial, Inc. |
2,000 | 147,860 | ||||||
Moodys Corp. |
1,400 | 109,900 | ||||||
NASDAQ OMX Group, Inc. (The) |
900 | 33,210 | ||||||
|
|
|||||||
2,351,838 | ||||||||
|
|
Diversified Telecommunication Services 5.7% |
||||||||
AT&T, Inc. |
188,900 | 6,743,730 | ||||||
CenturyLink, Inc. |
20,900 | 729,619 | ||||||
Frontier Communications Corp. |
36,200 | 215,390 | ||||||
Verizon Communications, Inc. |
150,200 | 7,018,846 | ||||||
Windstream Holdings, Inc. |
21,600 | 195,912 | ||||||
|
|
|||||||
14,903,497 | ||||||||
|
|
|||||||
Electric Utilities 1.1% |
||||||||
American Electric Power Co., Inc. |
4,700 | 252,907 | ||||||
Duke Energy Corp. |
6,900 | 513,981 | ||||||
Edison International |
3,200 | 180,992 | ||||||
Entergy Corp. |
1,700 | 123,250 | ||||||
Exelon Corp. |
8,300 | 290,749 | ||||||
FirstEnergy Corp. |
4,000 | 135,000 | ||||||
NextEra Energy, Inc. |
4,300 | 429,355 | ||||||
Northeast Utilities |
3,100 | 146,506 | ||||||
Pepco Holdings, Inc. |
2,400 | 64,224 | ||||||
Pinnacle West Capital Corp. |
1,100 | 61,545 | ||||||
PPL Corp. |
6,100 | 203,374 | ||||||
Southern Co. (The) |
8,600 | 394,138 | ||||||
Xcel Energy, Inc. |
4,800 | 152,976 | ||||||
|
|
|||||||
2,948,997 | ||||||||
|
|
|||||||
Electrical Equipment 1.1% |
||||||||
AMETEK, Inc. |
6,100 | 321,592 | ||||||
Eaton Corp. PLC |
11,900 | 864,416 | ||||||
Emerson Electric Co. |
17,500 | 1,193,150 | ||||||
Rockwell Automation, Inc. |
3,460 | 412,363 | ||||||
|
|
|||||||
2,791,521 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.3% |
||||||||
Amphenol Corp. (Class A Stock) |
1,500 | 143,025 | ||||||
Corning, Inc. |
13,100 | 273,921 | ||||||
FLIR Systems, Inc. |
1,300 | 44,252 | ||||||
Jabil Circuit, Inc. |
1,700 | 29,342 | ||||||
TE Connectivity Ltd. (Switzerland) |
3,900 | 230,022 | ||||||
|
|
|||||||
720,562 | ||||||||
|
|
|||||||
Energy Equipment & Services 1.1% |
||||||||
Baker Hughes, Inc. |
3,800 | 265,620 | ||||||
Cameron International Corp.* |
1,900 | 123,424 | ||||||
Diamond Offshore Drilling, Inc. |
600 | 32,766 | ||||||
Ensco PLC (Class A Stock) |
2,000 | 100,900 | ||||||
FMC Technologies, Inc.* |
2,100 | 119,070 | ||||||
Halliburton Co. |
7,400 | 466,718 | ||||||
Helmerich & Payne, Inc. |
940 | 102,131 | ||||||
Nabors Industries Ltd. |
2,200 | 56,144 | ||||||
National Oilwell Varco, Inc. |
3,800 | 298,414 | ||||||
Noble Corp. PLC |
2,200 | 67,782 | ||||||
Rowan Cos. PLC (Class A Stock)* |
1,000 | 30,920 | ||||||
Schlumberger Ltd. |
11,400 | 1,157,670 | ||||||
Transocean Ltd. |
2,900 | 124,903 | ||||||
|
|
|||||||
2,946,462 | ||||||||
|
|
|||||||
Food & Staples Retailing 4.2% |
||||||||
Costco Wholesale Corp. |
12,170 | 1,407,826 | ||||||
CVS Caremark Corp. |
32,700 | 2,377,944 | ||||||
Kroger Co. (The) |
14,300 | 658,372 | ||||||
Safeway, Inc. |
6,300 | 214,578 | ||||||
Sysco Corp. |
16,200 | 590,166 | ||||||
Wal-Mart Stores, Inc. |
44,800 | 3,571,008 |
Walgreen Co. |
24,200 | 1,643,180 | ||||||
Whole Foods Market, Inc. |
10,300 | 511,910 | ||||||
|
|
|||||||
10,974,984 | ||||||||
|
|
Food Products 2.9% |
||||||||
Archer-Daniels-Midland Co. |
18,200 | 795,886 | ||||||
Campbell Soup Co. |
4,900 | 222,901 | ||||||
ConAgra Foods, Inc. |
11,600 | 353,916 | ||||||
General Mills, Inc. |
17,300 | 917,246 | ||||||
Hershey Co. (The) |
4,150 | 399,396 | ||||||
Hormel Foods Corp. |
3,700 | 176,453 | ||||||
J.M. Smucker Co. (The) |
2,860 | 276,505 | ||||||
Kellogg Co. |
7,100 | 474,493 | ||||||
Keurig Green Mountain, Inc. |
3,580 | 335,374 | ||||||
Kraft Foods Group, Inc. |
16,500 | 938,190 | ||||||
McCormick & Co., Inc. |
3,600 | 256,320 | ||||||
Mead Johnson Nutrition Co. |
5,600 | 494,256 | ||||||
Mondelez International, Inc. (Class A Stock) |
47,000 | 1,675,550 | ||||||
Tyson Foods, Inc. (Class A Stock) |
7,400 | 310,578 | ||||||
|
|
|||||||
7,627,064 | ||||||||
|
|
|||||||
Gas Utilities |
||||||||
AGL Resources, Inc. |
1,100 | 59,400 | ||||||
|
|
|||||||
Health Care Equipment & Supplies 2.6% |
||||||||
Abbott Laboratories |
30,600 | 1,185,444 | ||||||
Baxter International, Inc. |
10,800 | 786,132 | ||||||
Becton, Dickinson and Co. |
3,840 | 434,035 | ||||||
Boston Scientific Corp.* |
26,200 | 330,382 | ||||||
C.R. Bard, Inc. |
1,540 | 211,488 | ||||||
CareFusion Corp.* |
4,100 | 160,146 | ||||||
Covidien PLC |
9,000 | 641,250 | ||||||
DENTSPLY International, Inc. |
2,800 | 124,964 | ||||||
Edwards Lifesciences Corp.* |
2,100 | 171,087 | ||||||
Intuitive Surgical, Inc.* |
760 | 274,892 | ||||||
Medtronic, Inc. |
19,900 | 1,170,518 | ||||||
St. Jude Medical, Inc. |
5,600 | 355,432 | ||||||
Stryker Corp. |
5,900 | 458,725 | ||||||
Varian Medical Systems, Inc.* |
2,100 | 167,055 | ||||||
Zimmer Holdings, Inc. |
3,400 | 329,120 | ||||||
|
|
|||||||
6,800,670 | ||||||||
|
|
|||||||
Health Care Providers & Services 2.5% |
||||||||
Aetna, Inc. |
7,200 | 514,440 | ||||||
AmerisourceBergen Corp. |
4,600 | 299,828 | ||||||
Cardinal Health, Inc. |
6,800 | 472,668 | ||||||
Cigna Corp. |
5,400 | 432,216 | ||||||
DaVita HealthCare Partners, Inc.* |
3,480 | 241,164 | ||||||
Express Scripts Holding Co.* |
15,400 | 1,025,332 | ||||||
Humana, Inc. |
3,060 | 335,835 | ||||||
Laboratory Corp. of America Holdings* |
1,700 | 167,790 | ||||||
McKesson Corp. |
4,570 | 773,198 | ||||||
Patterson Cos., Inc. |
1,600 | 65,120 | ||||||
Quest Diagnostics, Inc. |
2,900 | 162,197 | ||||||
Tenet Healthcare Corp.* |
1,900 | 85,652 | ||||||
UnitedHealth Group, Inc. |
19,700 | 1,478,288 | ||||||
WellPoint, Inc. |
5,600 | 563,808 | ||||||
|
|
|||||||
6,617,536 | ||||||||
|
|
|||||||
Health Care Technology 0.1% |
||||||||
Cerner Corp.* |
5,900 | 302,670 | ||||||
|
|
Hotels, Restaurants & Leisure 1.3% |
||||||||
Carnival Corp. |
5,300 | 208,343 | ||||||
Chipotle Mexican Grill, Inc.* |
380 | 189,430 | ||||||
Darden Restaurants, Inc. |
1,600 | 79,536 | ||||||
International Game Technology |
2,900 | 36,395 | ||||||
Marriott International, Inc. (Class A Stock) |
2,700 | 156,411 | ||||||
McDonalds Corp. |
12,100 | 1,226,698 | ||||||
Starbucks Corp. |
9,200 | 649,704 | ||||||
Starwood Hotels & Resorts Worldwide, Inc. |
2,300 | 176,295 | ||||||
Wyndham Worldwide Corp. |
1,600 | 114,144 | ||||||
Wynn Resorts Ltd. |
990 | 201,851 | ||||||
Yum! Brands, Inc. |
5,400 | 415,746 | ||||||
|
|
|||||||
3,454,553 | ||||||||
|
|
|||||||
Household Durables 0.3% |
||||||||
D.R. Horton, Inc. |
3,400 | 75,752 | ||||||
Garmin Ltd. |
1,500 | 85,650 | ||||||
Harman International Industries, Inc. |
830 | 90,976 | ||||||
Leggett & Platt, Inc. |
1,600 | 52,576 | ||||||
Lennar Corp. (Class A Stock) |
2,100 | 81,039 | ||||||
Mohawk Industries, Inc.* |
750 | 99,308 | ||||||
Newell Rubbermaid, Inc. |
3,300 | 99,363 | ||||||
PulteGroup, Inc. |
4,100 | 75,399 | ||||||
Whirlpool Corp. |
940 | 144,177 | ||||||
|
|
|||||||
804,240 | ||||||||
|
|
|||||||
Household Products 3.6% |
||||||||
Clorox Co. (The) |
3,600 | 326,520 | ||||||
Colgate-Palmolive Co. |
24,200 | 1,628,660 | ||||||
Kimberly-Clark Corp. |
10,500 | 1,178,625 | ||||||
Procter & Gamble Co. (The) |
75,100 | 6,199,505 | ||||||
|
|
|||||||
9,333,310 | ||||||||
|
|
|||||||
Independent Power & Renewable Electricity Producers 0.1% |
||||||||
AES Corp. |
6,400 | 92,480 | ||||||
NRG Energy, Inc. |
3,100 | 101,432 | ||||||
|
|
|||||||
193,912 | ||||||||
|
|
|||||||
Industrial Conglomerates 4.0% |
||||||||
3M Co. |
15,690 | 2,182,322 | ||||||
Danaher Corp. |
15,000 | 1,100,700 | ||||||
General Electric Co. |
249,900 | 6,719,811 | ||||||
Roper Industries, Inc. |
2,480 | 344,596 | ||||||
|
|
|||||||
10,347,429 | ||||||||
|
|
|||||||
Insurance 1.3% |
||||||||
ACE Ltd. |
2,430 | 248,638 | ||||||
Aflac, Inc. |
3,300 | 206,976 | ||||||
Allstate Corp. (The) |
3,300 | 187,935 | ||||||
American International Group, Inc. |
10,600 | 563,178 | ||||||
Aon PLC |
2,200 | 186,736 | ||||||
Assurant, Inc. |
600 | 40,446 | ||||||
Chubb Corp. (The) |
1,800 | 165,744 | ||||||
Cincinnati Financial Corp. |
1,100 | 53,614 | ||||||
Genworth Financial, Inc. (Class A Stock)* |
3,700 | 66,045 | ||||||
Hartford Financial Services Group, Inc. (The) |
3,300 | 118,371 | ||||||
Lincoln National Corp. |
2,000 | 97,020 | ||||||
Loews Corp. |
2,300 | 101,131 | ||||||
Marsh & McLennan Cos., Inc. |
4,000 | 197,240 | ||||||
MetLife, Inc. |
8,100 | 424,035 | ||||||
Principal Financial Group, Inc. |
2,000 | 93,680 | ||||||
Progressive Corp. (The) |
4,000 | 97,000 | ||||||
Torchmark Corp. |
700 | 55,790 | ||||||
Travelers Cos., Inc. (The) |
2,600 | 235,508 |
Unum Group |
1,900 | 63,118 | ||||||
XL Group PLC (Ireland) |
2,000 | 62,700 | ||||||
|
|
|||||||
3,264,905 | ||||||||
|
|
|||||||
Internet & Catalog Retail 1.0% |
||||||||
Amazon.com, Inc.* |
4,530 | 1,377,709 | ||||||
Expedia, Inc. |
1,300 | 92,287 | ||||||
Netflix, Inc.* |
730 | 235,089 | ||||||
Priceline Group, Inc. (The) |
640 | 740,960 | ||||||
TripAdvisor, Inc.* |
1,340 | 108,192 | ||||||
|
|
|||||||
2,554,237 | ||||||||
|
|
|||||||
Internet Software & Services 1.9% |
||||||||
Akamai Technologies, Inc.* |
1,700 | 90,219 | ||||||
eBay, Inc.* |
11,000 | 570,130 | ||||||
Facebook, Inc. (Class A Stock)* |
16,100 | 962,458 | ||||||
Google, Inc. (Class A Stock)* |
2,670 | 1,428,130 | ||||||
Google, Inc. (Class C Stock)* |
2,670 | 1,406,182 | ||||||
VeriSign, Inc.* |
1,200 | 56,616 | ||||||
Yahoo!, Inc.* |
8,800 | 316,360 | ||||||
|
|
|||||||
4,830,095 | ||||||||
|
|
|||||||
IT Services 2.1% |
||||||||
Accenture PLC (Class A Stock) |
6,000 | 481,320 | ||||||
Alliance Data Systems Corp.* |
510 | 123,369 | ||||||
Automatic Data Processing, Inc. |
4,600 | 358,616 | ||||||
Blackhawk Network Holdings, Inc. (Class B Stock)* |
1,035 | 23,837 | ||||||
Cognizant Technology Solutions Corp. (Class A Stock)* |
5,720 | 274,016 | ||||||
Computer Sciences Corp. |
1,400 | 82,852 | ||||||
Fidelity National Information Services, Inc. |
2,700 | 144,261 | ||||||
Fiserv, Inc.* |
2,360 | 143,441 | ||||||
International Business Machines Corp. |
9,240 | 1,815,383 | ||||||
MasterCard, Inc. (Class A Stock) |
9,600 | 706,080 | ||||||
Paychex, Inc. |
3,000 | 125,430 | ||||||
Teradata Corp.* |
1,500 | 68,190 | ||||||
Total System Services, Inc. |
1,500 | 47,655 | ||||||
Visa, Inc. (Class A Stock) |
4,790 | 970,502 | ||||||
Western Union Co. (The) |
5,100 | 80,937 | ||||||
Xerox Corp. |
10,500 | 126,945 | ||||||
|
|
|||||||
5,572,834 | ||||||||
|
|
|||||||
Leisure Products 0.1% |
||||||||
Hasbro, Inc. |
1,400 | 77,364 | ||||||
Mattel, Inc. |
4,100 | 160,781 | ||||||
|
|
|||||||
238,145 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 0.6% |
||||||||
Agilent Technologies, Inc. |
6,600 | 356,664 | ||||||
PerkinElmer, Inc. |
2,200 | 92,334 | ||||||
Thermo Fisher Scientific, Inc. |
7,780 | 886,920 | ||||||
Waters Corp.* |
1,690 | 166,533 | ||||||
|
|
|||||||
1,502,451 | ||||||||
|
|
|||||||
Machinery 2.9% |
||||||||
Caterpillar, Inc. |
15,900 | 1,675,860 | ||||||
Cummins, Inc. |
4,330 | 653,180 | ||||||
Deere & Co. |
9,200 | 858,728 | ||||||
Dover Corp. |
4,300 | 371,520 | ||||||
Flowserve Corp. |
3,400 | 248,370 | ||||||
Illinois Tool Works, Inc. |
9,800 | 835,254 | ||||||
Ingersoll-Rand PLC |
6,400 | 382,720 |
Joy Global, Inc. |
2,500 | 150,950 | ||||||
PACCAR, Inc. |
8,800 | 563,024 | ||||||
Pall Corp. |
2,800 | 235,620 | ||||||
Parker Hannifin Corp. |
3,720 | 471,994 | ||||||
Pentair Ltd. |
4,900 | 364,021 | ||||||
Snap-on, Inc. |
1,450 | 168,200 | ||||||
Stanley Black & Decker, Inc. |
3,900 | 334,971 | ||||||
Xylem, Inc. |
4,600 | 172,914 | ||||||
|
|
|||||||
7,487,326 | ||||||||
|
|
|||||||
Media 2.8% |
||||||||
Cablevision Systems Corp. (Class A Stock) |
2,600 | 43,420 | ||||||
CBS Corp. (Class B Stock) |
6,700 | 386,992 | ||||||
Comcast Corp. (Class A Stock) |
31,700 | 1,640,792 | ||||||
DIRECTV* |
5,800 | 450,080 | ||||||
Discovery Communications, Inc. (Class A Stock)* |
2,700 | 204,930 | ||||||
Gannett Co., Inc. |
2,700 | 73,359 | ||||||
Interpublic Group of Cos., Inc. (The) |
5,100 | 88,842 | ||||||
News Corp. (Class A Stock)* |
6,050 | 102,971 | ||||||
Omnicom Group, Inc. |
3,100 | 209,808 | ||||||
Scripps Networks Interactive, Inc. (Class A Stock) |
1,300 | 97,591 | ||||||
Time Warner Cable, Inc. |
3,380 | 478,135 | ||||||
Time Warner, Inc. |
10,900 | 724,414 | ||||||
Twenty-First Century Fox, Inc. (Class A Stock) |
23,600 | 755,672 | ||||||
Viacom, Inc. (Class B Stock) |
4,900 | 416,402 | ||||||
Walt Disney Co. (The) |
19,800 | 1,570,932 | ||||||
|
|
|||||||
7,244,340 | ||||||||
|
|
|||||||
Metals & Mining 0.3% |
||||||||
Alcoa, Inc. |
9,000 | 121,230 | ||||||
Allegheny Technologies, Inc. |
900 | 37,080 | ||||||
Freeport-McMoRan Copper & Gold, Inc. |
8,700 | 299,019 | ||||||
Newmont Mining Corp. |
4,100 | 101,803 | ||||||
Nucor Corp. |
2,700 | 139,725 | ||||||
United States Steel Corp. |
1,200 | 31,224 | ||||||
|
|
|||||||
730,081 | ||||||||
|
|
|||||||
Multi-Utilities 0.8% |
||||||||
Ameren Corp. |
2,300 | 95,013 | ||||||
CenterPoint Energy, Inc. |
4,100 | 101,516 | ||||||
CMS Energy Corp. |
2,500 | 75,775 | ||||||
Consolidated Edison, Inc. |
2,800 | 162,484 | ||||||
Dominion Resources, Inc. |
5,700 | 413,478 | ||||||
DTE Energy Co. |
1,700 | 132,838 | ||||||
Integrys Energy Group, Inc. |
800 | 49,024 | ||||||
NiSource, Inc. |
3,000 | 108,960 | ||||||
PG&E Corp. |
4,400 | 200,552 | ||||||
Public Service Enterprise Group, Inc. |
4,900 | 200,753 | ||||||
SCANA Corp. |
1,400 | 75,152 | ||||||
Sempra Energy |
2,200 | 216,942 | ||||||
TECO Energy, Inc. |
1,900 | 34,124 | ||||||
Wisconsin Energy Corp. |
2,200 | 106,656 | ||||||
|
|
|||||||
1,973,267 | ||||||||
|
|
|||||||
Multiline Retail 0.5% |
||||||||
Dollar General Corp.* |
3,600 | 203,184 | ||||||
Dollar Tree, Inc.* |
2,500 | 130,175 | ||||||
Family Dollar Stores, Inc. |
1,200 | 70,500 | ||||||
Kohls Corp. |
2,400 | 131,496 | ||||||
Macys, Inc. |
4,500 | 258,435 | ||||||
Nordstrom, Inc. |
1,700 | 104,176 | ||||||
Target Corp. |
7,700 | 475,475 | ||||||
|
|
|||||||
1,373,441 | ||||||||
|
|
Oil, Gas & Consumable Fuels 4.9% |
||||||||
Anadarko Petroleum Corp. |
4,400 | 435,688 | ||||||
Apache Corp. |
3,500 | 303,800 | ||||||
Cabot Oil & Gas Corp. |
3,700 | 145,336 | ||||||
Chesapeake Energy Corp. |
4,400 | 126,500 | ||||||
Chevron Corp. |
16,680 | 2,093,674 | ||||||
ConocoPhillips |
10,700 | 795,117 | ||||||
CONSOL Energy, Inc. |
2,000 | 89,020 | ||||||
Denbury Resources, Inc. |
3,100 | 52,142 | ||||||
Devon Energy Corp. |
3,400 | 238,000 | ||||||
EOG Resources, Inc. |
4,780 | 468,440 | ||||||
EQT Corp. |
1,360 | 148,226 | ||||||
Exxon Mobil Corp. |
37,730 | 3,863,929 | ||||||
Hess Corp. |
2,400 | 213,984 | ||||||
Kinder Morgan, Inc. |
5,800 | 189,428 | ||||||
Marathon Oil Corp. |
6,100 | 220,515 | ||||||
Marathon Petroleum Corp. |
2,600 | 241,670 | ||||||
Murphy Oil Corp. |
1,500 | 95,145 | ||||||
Newfield Exploration Co.* |
1,100 | 37,235 | ||||||
Noble Energy, Inc. |
3,200 | 229,696 | ||||||
Occidental Petroleum Corp. |
7,000 | 670,250 | ||||||
ONEOK, Inc. |
1,800 | 113,796 | ||||||
Peabody Energy Corp. |
2,300 | 43,723 | ||||||
Phillips 66 |
5,100 | 424,422 | ||||||
Pioneer Natural Resources Co. |
1,250 | 241,588 | ||||||
QEP Resources, Inc. |
1,500 | 46,035 | ||||||
Range Resources Corp. |
1,400 | 126,630 | ||||||
Southwestern Energy Co.* |
3,100 | 148,428 | ||||||
Spectra Energy Corp. |
5,800 | 230,318 | ||||||
Tesoro Corp. |
1,100 | 61,919 | ||||||
Valero Energy Corp. |
4,600 | 262,982 | ||||||
Williams Cos., Inc. (The) |
6,000 | 253,020 | ||||||
|
|
|||||||
12,610,656 | ||||||||
|
|
|||||||
Paper & Forest Products 0.1% |
||||||||
International Paper Co. |
3,700 | 172,605 | ||||||
|
|
|||||||
Personal Products 0.3% |
||||||||
Avon Products, Inc. |
12,000 | 183,360 | ||||||
Estee Lauder Cos., Inc. (The) (Class A Stock) |
7,100 | 515,247 | ||||||
|
|
|||||||
698,607 | ||||||||
|
|
|||||||
Pharmaceuticals 8.0% |
||||||||
AbbVie, Inc. |
31,500 | 1,640,520 | ||||||
Actavis, Inc.* |
3,460 | 706,982 | ||||||
Allergan, Inc. |
5,930 | 983,431 | ||||||
Bristol-Myers Squibb Co. |
32,600 | 1,632,934 | ||||||
Eli Lilly & Co. |
19,600 | 1,158,360 | ||||||
Forest Laboratories, Inc.* |
4,800 | 441,168 | ||||||
Hospira, Inc.* |
3,300 | 151,140 | ||||||
Johnson & Johnson |
56,200 | 5,692,498 | ||||||
Merck & Co., Inc. |
58,400 | 3,419,904 | ||||||
Mylan, Inc.* |
7,400 | 375,772 | ||||||
Perrigo Co. PLC |
2,660 | 385,328 | ||||||
Pfizer, Inc. |
126,700 | 3,963,176 | ||||||
Zoetis, Inc. |
9,900 | 299,574 | ||||||
|
|
|||||||
20,850,787 | ||||||||
|
|
Professional Services 0.3% |
||||||||
Dun & Bradstreet Corp. (The) |
940 | 104,114 | ||||||
Equifax, Inc. |
3,000 | 212,430 | ||||||
Nielsen Holdings NV |
7,100 | 333,345 | ||||||
Robert Half International, Inc. |
3,400 | 152,320 | ||||||
|
|
|||||||
802,209 | ||||||||
|
|
|||||||
Real Estate Investment Trusts (REITs) 1.1% |
||||||||
American Tower Corp. |
2,900 | 242,208 | ||||||
Apartment Investment & Management Co. (Class A Stock) |
1,100 | 33,913 | ||||||
AvalonBay Communities, Inc. |
900 | 122,895 | ||||||
Boston Properties, Inc. |
1,130 | 132,368 | ||||||
Crown Castle International Corp. |
2,500 | 181,825 | ||||||
Equity Residential |
2,500 | 148,600 | ||||||
Essex Property Trust, Inc. |
460 | 79,700 | ||||||
General Growth Properties, Inc. |
3,800 | 87,286 | ||||||
HCP, Inc. |
3,300 | 138,138 | ||||||
Health Care REIT, Inc. |
2,100 | 132,489 | ||||||
Host Hotels & Resorts, Inc. |
5,500 | 117,975 | ||||||
Kimco Realty Corp. |
3,000 | 68,760 | ||||||
Macerich Co. (The) |
1,100 | 71,401 | ||||||
Plum Creek Timber Co., Inc. |
1,300 | 56,680 | ||||||
Prologis, Inc. |
3,600 | 146,268 | ||||||
Public Storage |
1,060 | 186,040 | ||||||
Simon Property Group, Inc. |
2,280 | 394,896 | ||||||
Ventas, Inc. |
2,200 | 145,376 | ||||||
Vornado Realty Trust |
1,300 | 133,380 | ||||||
Weyerhaeuser Co. |
4,300 | 128,355 | ||||||
|
|
|||||||
2,748,553 | ||||||||
|
|
|||||||
Real Estate Management & Development |
||||||||
CBRE Group, Inc. (Class A Stock)* |
2,100 | 55,944 | ||||||
|
|
|||||||
Road & Rail 1.5% |
||||||||
CSX Corp. |
25,100 | 708,322 | ||||||
Kansas City Southern |
2,750 | 277,420 | ||||||
Norfolk Southern Corp. |
7,700 | 727,881 | ||||||
Ryder System, Inc. |
1,300 | 106,834 | ||||||
Union Pacific Corp. |
11,340 | 2,159,476 | ||||||
|
|
|||||||
3,979,933 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 1.3% |
||||||||
Altera Corp. |
3,000 | 97,560 | ||||||
Analog Devices, Inc. |
2,900 | 148,741 | ||||||
Applied Materials, Inc. |
11,400 | 217,284 | ||||||
Broadcom Corp. (Class A Stock) |
5,200 | 160,212 | ||||||
First Solar, Inc.* |
700 | 47,243 | ||||||
Intel Corp. |
46,900 | 1,251,761 | ||||||
KLA-Tencor Corp. |
1,600 | 102,384 | ||||||
Lam Research Corp.* |
1,500 | 86,415 | ||||||
Linear Technology Corp. |
2,200 | 97,900 | ||||||
LSI Corp. |
5,200 | 57,928 | ||||||
Microchip Technology, Inc. |
1,900 | 90,326 | ||||||
Micron Technology, Inc.* |
10,000 | 261,200 | ||||||
NVIDIA Corp. |
5,200 | 96,044 | ||||||
Texas Instruments, Inc. |
10,200 | 463,590 | ||||||
Xilinx, Inc. |
2,500 | 117,975 | ||||||
|
|
|||||||
3,296,563 | ||||||||
|
|
|||||||
Software 2.1% |
||||||||
Adobe Systems, Inc.* |
4,400 | 271,436 | ||||||
Autodesk, Inc.* |
2,100 | 100,842 | ||||||
CA, Inc. |
3,000 | 90,420 | ||||||
Citrix Systems, Inc.* |
1,700 | 100,827 |
Electronic Arts, Inc.* |
2,900 | 82,070 | ||||||
Intuit, Inc. |
2,700 | 204,525 | ||||||
Microsoft Corp. |
71,300 | 2,880,520 | ||||||
Oracle Corp. |
32,700 | 1,336,776 | ||||||
Red Hat, Inc.* |
1,800 | 87,570 | ||||||
Salesforce.com, Inc.* |
5,300 | 273,745 | ||||||
Symantec Corp. |
6,500 | 131,820 | ||||||
|
|
|||||||
5,560,551 | ||||||||
|
|
|||||||
Specialty Retail 1.6% |
||||||||
AutoNation, Inc.* |
800 | 42,392 | ||||||
AutoZone, Inc.* |
410 | 218,895 | ||||||
Bed Bath & Beyond, Inc.* |
2,600 | 161,538 | ||||||
Best Buy Co., Inc. |
3,300 | 85,569 | ||||||
CarMax, Inc.* |
2,700 | 118,206 | ||||||
GameStop Corp. (Class A Stock) |
1,400 | 55,552 | ||||||
Gap, Inc. (The) |
3,200 | 125,760 | ||||||
Home Depot, Inc. (The) |
17,100 | 1,359,621 | ||||||
L Brands, Inc. |
3,000 | 162,600 | ||||||
Lowes Cos., Inc. |
12,700 | 583,057 | ||||||
OReilly Automotive, Inc.* |
1,300 | 193,427 | ||||||
PetSmart, Inc. |
1,300 | 87,984 | ||||||
Ross Stores, Inc. |
2,600 | 177,008 | ||||||
Staples, Inc. |
7,900 | 98,750 | ||||||
Tiffany & Co. |
1,400 | 122,486 | ||||||
TJX Cos., Inc. (The) |
8,600 | 500,348 | ||||||
Tractor Supply Co. |
1,700 | 114,308 | ||||||
Urban Outfitters, Inc.* |
1,300 | 46,351 | ||||||
|
|
|||||||
4,253,852 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 2.6% |
||||||||
Apple, Inc. |
8,430 | 4,974,459 | ||||||
EMC Corp. |
19,100 | 492,780 | ||||||
Hewlett-Packard Co. |
17,900 | 591,774 | ||||||
NetApp, Inc. |
3,100 | 110,391 | ||||||
SanDisk Corp. |
2,100 | 178,437 | ||||||
Seagate Technology PLC |
3,100 | 162,998 | ||||||
Western Digital Corp. |
2,000 | 176,260 | ||||||
|
|
|||||||
6,687,099 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.6% |
||||||||
Coach, Inc. |
3,400 | 151,810 | ||||||
Fossil Group, Inc.* |
590 | 62,924 | ||||||
Michael Kors Holdings Ltd.* |
2,200 | 200,640 | ||||||
NIKE, Inc. (Class B Stock) |
9,100 | 663,845 | ||||||
PVH Corp. |
990 | 124,314 | ||||||
Ralph Lauren Corp. |
720 | 108,986 | ||||||
VF Corp. |
4,320 | 263,909 | ||||||
|
|
|||||||
1,576,428 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance |
||||||||
Hudson City Bancorp, Inc. |
3,700 | 36,852 | ||||||
Peoples United Financial, Inc. |
2,400 | 34,272 | ||||||
|
|
|||||||
71,124 | ||||||||
|
|
|||||||
Tobacco 2.7% |
||||||||
Altria Group, Inc. |
55,100 | 2,210,061 | ||||||
Lorillard, Inc. |
10,000 | 594,200 | ||||||
Philip Morris International, Inc. |
43,900 | 3,750,377 | ||||||
Reynolds American, Inc. |
8,600 | 485,298 | ||||||
|
|
|||||||
7,039,936 | ||||||||
|
|
Trading Companies & Distributors 0.3% |
||||||||||||||||
Fastenal Co. |
6,800 | 340,544 | ||||||||||||||
W.W. Grainger, Inc. |
1,530 | 389,232 | ||||||||||||||
|
|
|||||||||||||||
729,776 | ||||||||||||||||
|
|
|||||||||||||||
TOTAL LONG-TERM INVESTMENTS |
248,581,320 | |||||||||||||||
|
|
|||||||||||||||
SHORT-TERM INVESTMENTS 4.2% |
||||||||||||||||
AFFILIATED MONEY MARKET MUTUAL FUND 3.8% |
|
|||||||||||||||
Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund |
9,977,202 | 9,977,202 | ||||||||||||||
|
|
|||||||||||||||
Interest Rate |
Maturity Date | Principal Amount (000)# |
||||||||||||||
U.S. TREASURY OBLIGATION(a)(b) 0.4% |
||||||||||||||||
U.S. Treasury Bills |
0.050 | % | 06/19/14 | 1,000 | 999,976 | |||||||||||
|
|
|||||||||||||||
TOTAL SHORT-TERM INVESTMENTS |
10,977,178 | |||||||||||||||
|
|
|||||||||||||||
TOTAL INVESTMENTS 100.0% |
259,558,498 | |||||||||||||||
Liabilities in excess of other assets(e) |
(111,538 | ) | ||||||||||||||
|
|
|||||||||||||||
NET ASSETS 100.0% |
$ | 259,446,960 | ||||||||||||||
|
|
The following abbreviations are used in the portfolio descriptions:
NASDAQ | National Association for Securities Dealers Automated Quotations | |
REIT | Real Estate Investment Trust |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
* | Non-income producing security. |
(a) | Represents security, or a portion thereof, segregated as collateral for futures contracts. |
(b) | Rates shown are the effective yields at purchase date. |
(c) | Prudential Investments LLC, the manager of the Fund, also serves as manager of the Prudential Investment Portfolios 2 Prudential Core Taxable Money Market Fund. |
(d) | The United States federal income tax basis of investments and net unrealized appreciation were as follows: |
Tax Basis |
$ | 220,120,932 | ||
|
|
|||
Appreciation |
40,549,767 | |||
Depreciation |
(1,112,201 | ) | ||
|
|
|||
Net Unrealized Appreciation |
$ | 39,437,566 | ||
|
|
The book basis may differ from tax basis due to certain tax related adjustments.
(e) | Includes net unrealized appreciation (depreciation) on the following derivative contracts held at reporting period end: |
Futures contracts outstanding at April 30, 2014:
Number of Contracts |
Type |
Expiration |
Value at Trade Date |
Value at April 30, 2014 |
Unrealized Appreciation(1)(2) |
|||||||||||
Long Positions: |
||||||||||||||||
83 | S&P 500 E-Mini Futures |
Jun. 2014 | $ | 7,606,535 | $ | 7,793,285 | $ | 186,750 |
Open futures contracts outstanding at April 30, 2014 (continued):
Number of |
Type |
Expiration |
Value at Trade Date |
Value at April 30, 2014 |
Unrealized Appreciation(1)(2) |
|||||||||||
Long Positions (contd.) |
||||||||||||||||
5 | S&P 500 Index |
Jun. 2014 | $ | 2,310,675 | $ | 2,347,375 | $ | 36,700 | ||||||||
|
|
|||||||||||||||
$ | 223,450 | |||||||||||||||
|
|
(1) | The amount represents fair value of derivative instruments subject to equity risk exposure as of April 30, 2014. |
(2) | U.S. Treasury Security, with a market value of $999,976 has been segregated with Goldman Sachs & Co. to cover requirements for open futures contracts at April 30, 2014. |
Various inputs are used in determining the value of the Funds investments. These inputs are summarized in the three broad levels listed below.
Level 1 - quoted prices generally in active markets for identical securities.
Level 2 - other significant observable inputs including, but not limited to, quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates, and amortized cost.
Level 3 - significant unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.
The following is a summary of the inputs used as of April 30, 2014 in valuing such portfolio securities:
Level 1 | Level 2 | Level 3 | ||||||||||
Investments in Securities |
||||||||||||
Common Stocks |
||||||||||||
Aerospace & Defense |
$ | 11,616,945 | $ | | $ | | ||||||
Air Freight & Logistics |
3,108,460 | | | |||||||||
Airlines |
1,197,671 | | | |||||||||
Auto Components |
839,996 | | | |||||||||
Automobiles |
1,518,007 | | | |||||||||
Banks |
7,236,484 | | | |||||||||
Beverages |
10,174,729 | | | |||||||||
Biotechnology |
8,019,912 | | | |||||||||
Building Products |
288,619 | | | |||||||||
Capital Markets |
2,556,021 | | | |||||||||
Chemicals |
3,687,894 | | | |||||||||
Commercial Services & Supplies |
1,965,129 | | | |||||||||
Communications Equipment |
2,780,258 | | | |||||||||
Construction & Engineering |
683,722 | | | |||||||||
Construction Materials |
70,983 | | | |||||||||
Consumer Finance |
1,159,878 | | | |||||||||
Containers & Packaging |
292,634 | | | |||||||||
Distributors |
165,528 | | | |||||||||
Diversified Consumer Services |
134,060 | | | |||||||||
Diversified Financial Services |
2,351,838 | | | |||||||||
Diversified Telecommunication Services |
14,903,497 | | | |||||||||
Electric Utilities |
2,948,997 | | | |||||||||
Electrical Equipment |
2,791,521 | | | |||||||||
Electronic Equipment, Instruments & Components |
720,562 | | | |||||||||
Energy Equipment & Services |
2,946,462 | | | |||||||||
Food & Staples Retailing |
10,974,984 | | | |||||||||
Food Products |
7,627,064 | | | |||||||||
Gas Utilities |
59,400 | | | |||||||||
Health Care Equipment & Supplies |
6,800,670 | | | |||||||||
Health Care Providers & Services |
6,617,536 | | | |||||||||
Health Care Technology |
302,670 | | | |||||||||
Hotels, Restaurants & Leisure |
3,454,553 | | | |||||||||
Household Durables |
804,240 | | | |||||||||
Household Products |
9,333,310 | | | |||||||||
Independent Power & Renewable Electricity Producers |
193,912 | | | |||||||||
Industrial Conglomerates |
10,347,429 | | | |||||||||
Insurance |
3,264,905 | | | |||||||||
Internet & Catalog Retail |
2,554,237 | | | |||||||||
Internet Software & Services |
4,830,095 | | |
IT Services |
5,572,834 | | | |||||||||
Leisure Products |
238,145 | | | |||||||||
Life Sciences Tools & Services |
1,502,451 | | | |||||||||
Machinery |
7,487,326 | | | |||||||||
Media |
7,244,340 | | | |||||||||
Metals & Mining |
730,081 | | | |||||||||
Multi-Utilities |
1,973,267 | | | |||||||||
Multiline Retail |
1,373,441 | | | |||||||||
Oil, Gas & Consumable Fuels |
12,610,656 | | | |||||||||
Paper & Forest Products |
172,605 | | | |||||||||
Personal Products |
698,607 | | | |||||||||
Pharmaceuticals |
20,850,787 | | | |||||||||
Professional Services |
802,209 | | | |||||||||
Real Estate Investment Trusts (REITs) |
2,748,553 | | | |||||||||
Real Estate Management & Development |
55,944 | | | |||||||||
Road & Rail |
3,979,933 | | | |||||||||
Semiconductors & Semiconductor Equipment |
3,296,563 | | | |||||||||
Software |
5,560,551 | | | |||||||||
Specialty Retail |
4,253,852 | | | |||||||||
Technology Hardware, Storage & Peripherals |
6,687,099 | | | |||||||||
Textiles, Apparel & Luxury Goods |
1,576,428 | | | |||||||||
Thrifts & Mortgage Finance |
71,124 | | | |||||||||
Tobacco |
7,039,936 | | | |||||||||
Trading Companies & Distributors |
729,776 | | | |||||||||
Affiliated Money Market Mutual Fund |
9,977,202 | | | |||||||||
U.S. Treasury Obligation |
| 999,976 | | |||||||||
Other Financial Instruments* |
||||||||||||
Futures Contracts |
223,450 | | | |||||||||
|
|
|
|
|
|
|||||||
Total |
$ | 258,781,972 | $ | 999,976 | $ | | ||||||
|
|
|
|
|
|
* | Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are recorded at the unrealized appreciation/depreciation of the instrument. |
Notes to Schedules of Investments (Unaudited)
Security Valuation: The Funds hold securities and other assets that are fair valued at the close of each day the New York Stock Exchange (NYSE) is open for trading. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Board of Trustees (the Board) has adopted Valuation Procedures for security valuation under which fair value responsibilities have been delegated to Prudential Investments LLC (PI or Manager). Under the current Valuation Procedures, the established Valuation Committee is responsible for supervising the valuation of portfolio securities and other assets. The Valuation Procedures permit the Funds to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. A record of the Valuation Committees actions is subject to the Boards review, approval, and ratification at its next regularly-scheduled quarterly meeting.
Various inputs determine how the Funds investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, 3) detailed in the table following the Portfolio of Investments.
Common stocks, exchange-traded funds, and derivative instruments that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued at the last sale price or NASDAQ official closing price, they are classified as Level 1 in the fair value hierarchy except for exchanged-traded and cleared swaps which are classified as Level 2 in the fair value hierarchy, as the prices marked at the official settle are not public.
In the event that no sale or official closing price on valuation date exists, these securities are generally valued at the mean between the last reported bid and asked prices, or at the last bid price in the absence of an asked price. These securities are classified as Level 2 in the fair value hierarchy, as the inputs are observable and considered to be significant to the valuation.
Common stocks traded on foreign securities exchanges are valued using pricing vendor services that provide model prices derived using adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable. Securities valued using such model prices are classified as Level 2 of the fair value hierarchy as the adjustment factors are observable and considered to be significant to the valuation. Securities not valued using such model prices are valued in accordance with exchange-traded common stocks discussed above.
Investments in open-end, non-exchange-traded mutual funds are valued at their net asset values as of the close of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.
Fixed income securities traded in the over-the-counter market are generally valued at prices provided by approved independent pricing vendors. The pricing vendors provide these prices after evaluating observable inputs including, but not limited to yield curves, yield spreads, credit ratings, deal terms, tranche level attributes, default rates, cash flows, prepayment spreads, broker/dealer quotations, and reported trades. Securities valued using such vendor prices are classified as Level 2 in the fair value hierarchy.
Over-the-counter derivative instruments are generally valued using pricing vendor services, which derive the valuation based on inputs such as underlying asset prices, indices, spreads, interest rates, and exchange rates. These instruments are categorized as Level 2 in the fair value hierarchy.
Securities and other assets that cannot be priced according to the methods described above are valued based on pricing methodologies approved by the Board. In the event that significant unobservable inputs used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy.
When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuers financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a securitys most recent closing price and from the price used by other mutual funds to calculate their net asset values.
The Funds invest in the Prudential Core Taxable Money Market Fund, a portfolio of the Prudential Investment Portfolios 2, registered under the Investment Company Act of 1940, as amended, and managed by PI.
Other information regarding the Funds is available in the Funds most recent Report to Shareholders. This information is available on the Securities and Exchange Commissions website (www.sec.gov).
Item 2. | Controls and Procedures |
(a) | It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrants principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
(b) | There have been no significant changes in the registrants internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. |
Item 3. | Exhibits |
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 Attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Prudential Investment Portfolios 16
By (Signature and Title)* | /s/ Deborah A. Docs | |
Deborah A. Docs | ||
Secretary of the Fund |
Date June 19, 2014
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Stuart S. Parker | |
Stuart S. Parker | ||
President and Principal Executive Officer |
Date June 19, 2014
By (Signature and Title)* | /s/ M. Sadiq Peshimam | |
M. Sadiq Peshimam | ||
Treasurer and Principal Financial Officer |
Date June 19, 2014
* | Print the name and title of each signing officer under his or her signature |
CERTIFICATIONS
I, Stuart S. Parker, certify that:
1. | I have reviewed this report on Form N-Q of Prudential Investment Portfolios 16; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: June 19, 2014 | /s/ Stuart S. Parker |
|||||
Stuart S. Parker | ||||||
President and Principal | ||||||
Executive Officer |
CERTIFICATIONS
I, M. Sadiq Peshimam, certify that:
1. | I have reviewed this report on Form N-Q of Prudential Investment Portfolios 16; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; |
4. | The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
Date: June 19, 2014 | /s/ M. Sadiq Peshimam |
|||||
M. Sadiq Peshimam | ||||||
Treasurer and Principal | ||||||
Financial Officer |