FOR VALIDATION PURPOSES ONLY - [796290.TX]
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund
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| Description |
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Shares |
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Market Value
($ Thousands) |
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| COMMON STOCK — 98.4% |
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| Canada — 0.0% |
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| Lululemon Athletica Inc * |
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|
771 |
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$ |
148 |
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| Ireland — 1.2% |
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| Accenture PLC, Cl A |
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11,297 |
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2,173 |
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| Ingersoll-Rand PLC |
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7,234 |
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|
891 |
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| Jazz Pharmaceuticals PLC * |
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616 |
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79 |
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| Medtronic PLC |
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19,976 |
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2,170 |
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| Perrigo Co PLC |
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1,650 |
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92 |
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5,405 |
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| Puerto Rico — 0.0% |
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| Popular Inc |
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1,507 |
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82 |
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| Switzerland — 0.0% |
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| Garmin Ltd |
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1,092 |
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93 |
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| United Kingdom — 0.1% |
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| Aon PLC |
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2,921 |
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565 |
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| United States — 97.1% |
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| Communication Services — 8.9% |
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| Activision Blizzard Inc |
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7,115 |
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377 |
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| Alphabet Inc, Cl A * |
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4,600 |
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5,617 |
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| Alphabet Inc, Cl C * |
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4,691 |
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5,718 |
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| AT&T Inc |
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133,201 |
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5,040 |
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| CenturyLink Inc |
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7,881 |
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98 |
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| Charter Communications Inc, Cl A * |
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1,968 |
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811 |
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| Cinemark Holdings Inc |
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2,104 |
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81 |
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| Comcast Corp, Cl A |
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66,971 |
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3,019 |
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| Electronic Arts Inc * |
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2,142 |
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210 |
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| Facebook Inc, Cl A * |
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41,503 |
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7,391 |
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| Fox Corp, Cl A |
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1,372 |
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43 |
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| Fox Corp, Cl B |
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5,833 |
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184 |
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| Interpublic Group of Cos Inc/The |
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8,487 |
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183 |
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| John Wiley & Sons Inc, Cl A |
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3,657 |
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161 |
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| Liberty Media Corp-Liberty Formula One, Cl A * |
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7,162 |
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284 |
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| Liberty Media Corp-Liberty Formula One, Cl C * |
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5,721 |
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238 |
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| Live Nation Entertainment Inc * |
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1,313 |
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87 |
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| News Corp, Cl B |
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7,134 |
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102 |
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| Omnicom Group Inc |
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10,137 |
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|
794 |
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| Spotify Technology SA * |
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607 |
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69 |
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| Sprint Corp * |
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31,627 |
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195 |
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| Take-Two Interactive Software Inc * |
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830 |
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104 |
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| T-Mobile US Inc * |
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3,026 |
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238 |
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| Twitter Inc * |
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6,144 |
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253 |
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| Verizon Communications Inc |
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62,462 |
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3,770 |
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| Viacom Inc, Cl A |
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2,473 |
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65 |
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| Viacom Inc, Cl B |
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7,351 |
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177 |
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| Walt Disney Co/The |
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26,709 |
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3,481 |
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| Zayo Group Holdings Inc * |
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2,614 |
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89 |
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| Zillow Group Inc, Cl C * |
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2,383 |
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71 |
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| Description |
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Shares |
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Market Value
($ Thousands) |
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| COMMON STOCK (continued) |
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| Zynga Inc, Cl A * |
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14,448 |
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$ |
84 |
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39,034 |
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| Consumer Discretionary — 10.3% |
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| Amazon.com Inc * |
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6,547 |
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11,365 |
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| Aptiv PLC |
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3,490 |
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305 |
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| Aramark |
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2,423 |
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106 |
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| AutoZone Inc * |
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235 |
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255 |
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| Best Buy Co Inc |
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3,307 |
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228 |
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| Booking Holdings Inc * |
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563 |
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1,105 |
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| BorgWarner Inc |
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4,528 |
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166 |
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| Bright Horizons Family Solutions Inc * |
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649 |
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99 |
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| Burlington Stores Inc * |
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482 |
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96 |
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| Cable One Inc |
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79 |
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99 |
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| CarMax Inc * |
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1,086 |
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96 |
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| Carnival Corp |
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11,633 |
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508 |
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| Carvana Co, Cl A * |
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1,405 |
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93 |
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| CBS Corp, Cl B |
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1,742 |
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70 |
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| Chipotle Mexican Grill Inc, Cl A * |
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122 |
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103 |
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| Choice Hotels International Inc |
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1,031 |
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92 |
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| Columbia Sportswear Co |
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891 |
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86 |
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| Darden Restaurants Inc |
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705 |
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83 |
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| Discovery Inc, Cl C * |
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2,842 |
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70 |
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| Dollar General Corp |
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2,470 |
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393 |
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| Dollar Tree Inc * |
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1,617 |
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185 |
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| Domino’s Pizza Inc |
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309 |
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76 |
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| DR Horton Inc |
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1,973 |
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104 |
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| Dunkin’ Brands Group Inc |
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2,803 |
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222 |
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| eBay Inc |
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24,197 |
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943 |
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| Expedia Group Inc |
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|
723 |
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97 |
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| Floor & Decor Holdings Inc, Cl A * |
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2,075 |
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106 |
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| Ford Motor Co |
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41,791 |
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383 |
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| frontdoor Inc * |
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2,205 |
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107 |
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| Gap Inc/The |
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14,224 |
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247 |
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| General Motors Co |
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51,542 |
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1,932 |
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| Gentex Corp |
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3,795 |
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104 |
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| Genuine Parts Co |
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|
871 |
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87 |
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| Goodyear Tire & Rubber Co/The |
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5,710 |
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82 |
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| Grand Canyon Education Inc * |
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|
729 |
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72 |
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| GrubHub Inc * |
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1,289 |
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72 |
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| H&R Block Inc |
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3,157 |
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75 |
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| Hanesbrands Inc |
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13,319 |
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204 |
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| Harley-Davidson Inc |
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2,391 |
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86 |
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| Hasbro Inc |
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2,632 |
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312 |
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| Hilton Grand Vacations Inc * |
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3,016 |
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96 |
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| Hilton Worldwide Holdings Inc |
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4,365 |
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406 |
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| Home Depot Inc/The |
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16,979 |
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3,939 |
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| Hyatt Hotels Corp, Cl A |
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2,635 |
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194 |
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| Kohl’s Corp |
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1,859 |
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92 |
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| L Brands Inc |
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5,950 |
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117 |
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| Lear Corp |
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1,457 |
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172 |
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| Leggett & Platt Inc |
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2,232 |
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91 |
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| New Covenant Funds / Quarterly Report / September 30, 2019 |
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1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
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| Description |
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Shares |
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Market Value
($ Thousands) |
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| COMMON STOCK (continued) |
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| Lennar Corp, Cl A |
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1,654 |
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$ |
92 |
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| LKQ Corp * |
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3,141 |
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|
99 |
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| Lowe’s Cos Inc |
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23,723 |
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2,609 |
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| Macy’s Inc |
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4,042 |
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63 |
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| Madison Square Garden Co/The * |
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284 |
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75 |
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| Marriott International Inc/MD, Cl A |
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3,599 |
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448 |
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| Mattel Inc * |
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18,661 |
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213 |
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| McDonald’s Corp |
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11,361 |
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2,439 |
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| Mohawk Industries Inc * |
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|
634 |
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79 |
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| Netflix Inc * |
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5,901 |
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1,579 |
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| Newell Brands Inc |
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5,602 |
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|
105 |
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| News Corp, Cl A |
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7,212 |
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100 |
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| NIKE Inc, Cl B |
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17,157 |
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1,611 |
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| Nordstrom Inc |
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3,866 |
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|
130 |
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| Norwegian Cruise Line Holdings Ltd * |
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1,482 |
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|
77 |
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| O’Reilly Automotive Inc * |
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|
677 |
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|
270 |
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| Polaris Industries Inc |
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|
966 |
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|
85 |
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| Pool Corp |
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466 |
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94 |
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| PulteGroup Inc |
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26,308 |
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|
962 |
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| PVH Corp |
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1,776 |
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|
157 |
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| Qurate Retail Inc * |
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9,266 |
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|
96 |
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| Ralph Lauren Corp, Cl A |
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|
690 |
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66 |
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| Roku Inc, Cl A * |
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|
933 |
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|
95 |
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| Ross Stores Inc |
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3,576 |
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|
393 |
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| Royal Caribbean Cruises Ltd |
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8,804 |
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|
954 |
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| Service Corp International/US |
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2,015 |
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|
96 |
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| Six Flags Entertainment Corp |
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1,563 |
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|
79 |
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| Starbucks Corp |
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16,902 |
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1,494 |
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| Tapestry Inc |
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2,803 |
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|
73 |
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| Target Corp |
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6,577 |
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|
703 |
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| Tesla Inc * |
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1,515 |
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|
365 |
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| Tiffany & Co |
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|
948 |
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|
88 |
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| TJX Cos Inc/The |
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15,858 |
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|
884 |
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| Toll Brothers Inc |
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|
2,246 |
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|
92 |
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| Tractor Supply Co |
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|
2,377 |
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|
215 |
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| Ulta Beauty Inc * |
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|
279 |
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|
70 |
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| Under Armour Inc, Cl A * |
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3,938 |
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|
79 |
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| Under Armour Inc, Cl C * |
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4,463 |
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|
81 |
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| Urban Outfitters Inc * |
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|
3,059 |
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|
86 |
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| Vail Resorts Inc |
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|
381 |
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|
|
87 |
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| VF Corp |
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|
4,023 |
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|
358 |
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| Wayfair Inc, Cl A * |
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|
590 |
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|
66 |
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| Wendy’s Co/The |
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11,419 |
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|
228 |
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| Whirlpool Corp |
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|
638 |
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|
101 |
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| Williams-Sonoma Inc |
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3,319 |
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|
226 |
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| Wyndham Destinations Inc |
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4,669 |
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|
215 |
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| Wyndham Hotels & Resorts Inc |
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3,409 |
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|
|
176 |
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| Yum China Holdings Inc |
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|
1,913 |
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|
|
87 |
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| Yum! Brands Inc |
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|
3,237 |
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|
|
367 |
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45,228 |
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| |
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| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
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| Consumer Staples — 7.3% |
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| Archer-Daniels-Midland Co |
|
|
3,324 |
|
|
$ |
137 |
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| Beyond Meat Inc * |
|
|
535 |
|
|
|
79 |
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| Bunge Ltd |
|
|
1,596 |
|
|
|
90 |
|
| Campbell Soup Co |
|
|
10,354 |
|
|
|
486 |
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| Church & Dwight Co Inc |
|
|
3,000 |
|
|
|
226 |
|
| Clorox Co/The |
|
|
3,366 |
|
|
|
511 |
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| Coca-Cola Co/The |
|
|
77,274 |
|
|
|
4,207 |
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| Colgate-Palmolive Co |
|
|
14,526 |
|
|
|
1,068 |
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| Conagra Brands Inc |
|
|
30,656 |
|
|
|
941 |
|
| Costco Wholesale Corp |
|
|
6,117 |
|
|
|
1,762 |
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| Coty Inc, Cl A |
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|
7,317 |
|
|
|
77 |
|
| Energizer Holdings Inc |
|
|
1,973 |
|
|
|
86 |
|
| Estee Lauder Cos Inc/The, Cl A |
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|
2,390 |
|
|
|
475 |
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| Flowers Foods Inc |
|
|
9,872 |
|
|
|
228 |
|
| General Mills Inc |
|
|
13,887 |
|
|
|
765 |
|
| Hain Celestial Group Inc/The * |
|
|
3,752 |
|
|
|
81 |
|
| Hershey Co/The |
|
|
2,295 |
|
|
|
356 |
|
| Hormel Foods Corp |
|
|
4,797 |
|
|
|
210 |
|
| Ingredion Inc |
|
|
1,110 |
|
|
|
91 |
|
| JM Smucker Co/The |
|
|
10,889 |
|
|
|
1,198 |
|
| Kellogg Co |
|
|
6,713 |
|
|
|
432 |
|
| Keurig Dr Pepper Inc |
|
|
38,334 |
|
|
|
1,047 |
|
| Kimberly-Clark Corp |
|
|
6,484 |
|
|
|
921 |
|
| Kraft Heinz Co/The |
|
|
4,224 |
|
|
|
118 |
|
| Kroger Co/The |
|
|
57,546 |
|
|
|
1,484 |
|
| McCormick & Co Inc/MD |
|
|
2,916 |
|
|
|
456 |
|
| Mondelez International Inc, Cl A |
|
|
18,714 |
|
|
|
1,035 |
|
| Monster Beverage Corp * |
|
|
2,979 |
|
|
|
173 |
|
| PepsiCo Inc |
|
|
31,732 |
|
|
|
4,350 |
|
| Pilgrim’s Pride Corp * |
|
|
3,030 |
|
|
|
97 |
|
| Post Holdings Inc * |
|
|
793 |
|
|
|
84 |
|
| Procter & Gamble Co/The |
|
|
37,857 |
|
|
|
4,709 |
|
| Spectrum Brands Holdings Inc |
|
|
1,320 |
|
|
|
70 |
|
| Sprouts Farmers Market Inc * |
|
|
9,458 |
|
|
|
183 |
|
| Sysco Corp |
|
|
8,925 |
|
|
|
709 |
|
| TreeHouse Foods Inc * |
|
|
1,471 |
|
|
|
82 |
|
| Tyson Foods Inc, Cl A |
|
|
1,963 |
|
|
|
169 |
|
| US Foods Holding Corp * |
|
|
2,211 |
|
|
|
91 |
|
| Walgreens Boots Alliance Inc |
|
|
8,946 |
|
|
|
495 |
|
| Walmart Inc |
|
|
20,825 |
|
|
|
2,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Energy — 4.5% |
|
|
|
|
|
|
|
|
| Apache Corp |
|
|
4,822 |
|
|
|
123 |
|
| Apergy Corp * |
|
|
2,776 |
|
|
|
75 |
|
| Baker Hughes a GE Co, Cl A |
|
|
7,765 |
|
|
|
180 |
|
| Cabot Oil & Gas Corp |
|
|
3,306 |
|
|
|
58 |
|
| Cheniere Energy Inc * |
|
|
1,265 |
|
|
|
80 |
|
| Chesapeake Energy Corp * |
|
|
32,883 |
|
|
|
46 |
|
| Chevron Corp |
|
|
37,856 |
|
|
|
4,490 |
|
| Concho Resources Inc |
|
|
1,204 |
|
|
|
82 |
|
|
|
|
| |
|
| 2 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| ConocoPhillips |
|
|
28,755 |
|
|
$ |
1,638 |
|
| Continental Resources Inc/OK |
|
|
2,048 |
|
|
|
63 |
|
| Devon Energy Corp |
|
|
8,276 |
|
|
|
199 |
|
| Diamondback Energy Inc |
|
|
796 |
|
|
|
72 |
|
| EOG Resources Inc |
|
|
6,996 |
|
|
|
519 |
|
| EQT Corp |
|
|
2,732 |
|
|
|
29 |
|
| Equitrans Midstream Corp |
|
|
2,185 |
|
|
|
32 |
|
| Exxon Mobil Corp |
|
|
65,031 |
|
|
|
4,592 |
|
| Halliburton Co |
|
|
4,450 |
|
|
|
84 |
|
| Helmerich & Payne Inc |
|
|
1,494 |
|
|
|
60 |
|
| Hess Corp |
|
|
7,788 |
|
|
|
471 |
|
| HollyFrontier Corp |
|
|
3,119 |
|
|
|
167 |
|
| Kinder Morgan Inc/DE |
|
|
21,442 |
|
|
|
442 |
|
| Kosmos Energy Ltd |
|
|
31,233 |
|
|
|
195 |
|
| Marathon Oil Corp |
|
|
10,930 |
|
|
|
134 |
|
| Marathon Petroleum Corp |
|
|
7,000 |
|
|
|
425 |
|
| Murphy Oil Corp |
|
|
3,117 |
|
|
|
69 |
|
| National Oilwell Varco Inc |
|
|
3,446 |
|
|
|
73 |
|
| Noble Energy Inc |
|
|
6,179 |
|
|
|
139 |
|
| Occidental Petroleum Corp |
|
|
34,675 |
|
|
|
1,542 |
|
| ONEOK Inc |
|
|
3,505 |
|
|
|
258 |
|
| PBF Energy Inc, Cl A |
|
|
2,828 |
|
|
|
77 |
|
| Phillips 66 |
|
|
5,367 |
|
|
|
550 |
|
| Pioneer Natural Resources Co |
|
|
1,910 |
|
|
|
240 |
|
| Range Resources Corp |
|
|
22,746 |
|
|
|
87 |
|
| Schlumberger Ltd |
|
|
51,478 |
|
|
|
1,759 |
|
| Targa Resources Corp |
|
|
2,219 |
|
|
|
89 |
|
| Valero Energy Corp |
|
|
4,219 |
|
|
|
360 |
|
| Williams Cos Inc/The |
|
|
11,002 |
|
|
|
265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financials — 12.8% |
|
|
|
|
|
|
|
|
| Affiliated Managers Group Inc |
|
|
910 |
|
|
|
76 |
|
| Aflac Inc |
|
|
7,601 |
|
|
|
398 |
|
| Alleghany Corp * |
|
|
128 |
|
|
|
102 |
|
| Allstate Corp/The |
|
|
3,458 |
|
|
|
376 |
|
| American Express Co |
|
|
9,360 |
|
|
|
1,107 |
|
| American International Group Inc |
|
|
10,083 |
|
|
|
562 |
|
| Ameriprise Financial Inc |
|
|
1,250 |
|
|
|
184 |
|
| Annaly Capital Management
Inc ‡ |
|
|
8,922 |
|
|
|
78 |
|
| Arch Capital Group Ltd * |
|
|
2,404 |
|
|
|
101 |
|
| Arthur J Gallagher & Co |
|
|
1,029 |
|
|
|
92 |
|
| Assurant Inc |
|
|
883 |
|
|
|
111 |
|
| AXA Equitable Holdings Inc |
|
|
37,558 |
|
|
|
832 |
|
| Bank of America Corp |
|
|
166,804 |
|
|
|
4,866 |
|
| Bank of Hawaii Corp |
|
|
1,051 |
|
|
|
90 |
|
| Bank of New York Mellon Corp/The |
|
|
12,656 |
|
|
|
572 |
|
| Bank OZK |
|
|
2,609 |
|
|
|
71 |
|
| BankUnited Inc |
|
|
2,418 |
|
|
|
81 |
|
| BB&T Corp |
|
|
8,015 |
|
|
|
428 |
|
| Berkshire Hathaway Inc, Cl B * |
|
|
29,663 |
|
|
|
6,170 |
|
| BlackRock Inc, Cl A |
|
|
1,478 |
|
|
|
659 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Brighthouse Financial Inc * |
|
|
2,182 |
|
|
$ |
88 |
|
| Brown & Brown Inc |
|
|
2,667 |
|
|
|
96 |
|
| Capital One Financial Corp |
|
|
5,083 |
|
|
|
462 |
|
| Cboe Global Markets Inc |
|
|
830 |
|
|
|
95 |
|
| Charles Schwab Corp/The |
|
|
14,548 |
|
|
|
609 |
|
| Chubb Ltd |
|
|
5,856 |
|
|
|
945 |
|
| Cincinnati Financial Corp |
|
|
891 |
|
|
|
104 |
|
| Citigroup Inc |
|
|
54,313 |
|
|
|
3,752 |
|
| Citizens Financial Group Inc |
|
|
2,381 |
|
|
|
84 |
|
| CME Group Inc, Cl A |
|
|
4,491 |
|
|
|
949 |
|
| CNA Financial Corp |
|
|
1,871 |
|
|
|
92 |
|
| Comerica Inc |
|
|
1,232 |
|
|
|
81 |
|
| Commerce Bancshares Inc/MO |
|
|
1,418 |
|
|
|
86 |
|
| Credit Acceptance Corp * |
|
|
177 |
|
|
|
82 |
|
| Cullen/Frost Bankers Inc |
|
|
850 |
|
|
|
75 |
|
| Discover Financial Services |
|
|
3,009 |
|
|
|
244 |
|
| E*TRADE Financial Corp |
|
|
1,729 |
|
|
|
76 |
|
| East West Bancorp Inc |
|
|
1,710 |
|
|
|
76 |
|
| Erie Indemnity Co, Cl A |
|
|
433 |
|
|
|
80 |
|
| FactSet Research Systems Inc |
|
|
306 |
|
|
|
74 |
|
| Fifth Third Bancorp |
|
|
4,599 |
|
|
|
126 |
|
| First Hawaiian Inc |
|
|
3,126 |
|
|
|
83 |
|
| First Republic Bank/CA |
|
|
831 |
|
|
|
80 |
|
| Franklin Resources Inc |
|
|
6,856 |
|
|
|
198 |
|
| Globe Life |
|
|
972 |
|
|
|
93 |
|
| Goldman Sachs Group Inc/The |
|
|
5,574 |
|
|
|
1,155 |
|
| Hanover Insurance Group Inc/The |
|
|
694 |
|
|
|
94 |
|
| Hartford Financial Services Group Inc/The |
|
|
4,042 |
|
|
|
245 |
|
| Huntington Bancshares Inc/OH |
|
|
6,282 |
|
|
|
90 |
|
| Intercontinental Exchange Inc |
|
|
6,350 |
|
|
|
586 |
|
| Invesco Ltd |
|
|
50,690 |
|
|
|
859 |
|
| JPMorgan Chase & Co |
|
|
59,458 |
|
|
|
6,998 |
|
| KeyCorp |
|
|
12,904 |
|
|
|
230 |
|
| Lazard Ltd, Cl A (A) |
|
|
2,316 |
|
|
|
81 |
|
| Lincoln National Corp |
|
|
3,621 |
|
|
|
218 |
|
| Loews Corp |
|
|
1,670 |
|
|
|
86 |
|
| LPL Financial Holdings Inc |
|
|
1,036 |
|
|
|
85 |
|
| M&T Bank Corp |
|
|
929 |
|
|
|
147 |
|
| Markel Corp * |
|
|
81 |
|
|
|
96 |
|
| MarketAxess Holdings Inc |
|
|
305 |
|
|
|
100 |
|
| Marsh & McLennan Cos Inc |
|
|
20,171 |
|
|
|
2,018 |
|
| Mercury General Corp |
|
|
1,523 |
|
|
|
85 |
|
| MetLife Inc |
|
|
8,552 |
|
|
|
403 |
|
| Moody’s Corp |
|
|
1,782 |
|
|
|
365 |
|
| Morgan Stanley |
|
|
35,755 |
|
|
|
1,526 |
|
| Morningstar Inc |
|
|
1,607 |
|
|
|
235 |
|
| MSCI Inc, Cl A |
|
|
1,669 |
|
|
|
363 |
|
| Nasdaq Inc |
|
|
2,378 |
|
|
|
236 |
|
| New York Community Bancorp Inc |
|
|
7,595 |
|
|
|
95 |
|
| Northern Trust Corp |
|
|
8,350 |
|
|
|
779 |
|
| OneMain Holdings Inc, Cl A |
|
|
2,529 |
|
|
|
93 |
|
| People’s United Financial Inc |
|
|
5,001 |
|
|
|
78 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
3 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Pinnacle Financial Partners Inc |
|
|
1,489 |
|
|
$ |
84 |
|
| PNC Financial Services Group Inc/The |
|
|
5,690 |
|
|
|
797 |
|
| Principal Financial Group Inc |
|
|
7,045 |
|
|
|
403 |
|
| Progressive Corp/The |
|
|
6,981 |
|
|
|
539 |
|
| Prosperity Bancshares Inc |
|
|
1,192 |
|
|
|
84 |
|
| Prudential Financial Inc |
|
|
16,015 |
|
|
|
1,441 |
|
| Raymond James Financial Inc |
|
|
980 |
|
|
|
81 |
|
| Regions Financial Corp |
|
|
5,703 |
|
|
|
90 |
|
| Reinsurance Group of America Inc, Cl A |
|
|
578 |
|
|
|
92 |
|
| S&P Global Inc |
|
|
8,103 |
|
|
|
1,985 |
|
| Santander Consumer USA Holdings Inc |
|
|
4,038 |
|
|
|
103 |
|
| Signature Bank/New York NY |
|
|
676 |
|
|
|
81 |
|
| SLM Corp |
|
|
8,316 |
|
|
|
73 |
|
| State Street Corp |
|
|
23,884 |
|
|
|
1,414 |
|
| SunTrust Banks Inc |
|
|
4,136 |
|
|
|
285 |
|
| SVB Financial Group * |
|
|
346 |
|
|
|
72 |
|
| Synchrony Financial |
|
|
4,720 |
|
|
|
161 |
|
| T Rowe Price Group Inc |
|
|
2,711 |
|
|
|
310 |
|
| TD Ameritrade Holding Corp |
|
|
1,608 |
|
|
|
75 |
|
| TFS Financial Corp |
|
|
4,940 |
|
|
|
89 |
|
| Travelers Cos Inc/The |
|
|
2,743 |
|
|
|
408 |
|
| Two Harbors Investment Corp |
|
|
6,390 |
|
|
|
84 |
|
| US Bancorp |
|
|
20,106 |
|
|
|
1,113 |
|
| Voya Financial Inc |
|
|
4,001 |
|
|
|
218 |
|
| Wells Fargo & Co |
|
|
61,564 |
|
|
|
3,105 |
|
| Western Alliance Bancorp |
|
|
1,801 |
|
|
|
83 |
|
| Willis Towers Watson PLC |
|
|
907 |
|
|
|
175 |
|
| WR Berkley Corp |
|
|
1,397 |
|
|
|
101 |
|
| Zions Bancorp NA |
|
|
1,771 |
|
|
|
79 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
56,657 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Health Care — 13.2% |
|
|
|
|
|
|
|
|
| Abbott Laboratories |
|
|
41,888 |
|
|
|
3,505 |
|
| AbbVie Inc |
|
|
21,492 |
|
|
|
1,627 |
|
| ABIOMED Inc * |
|
|
332 |
|
|
|
59 |
|
| Agilent Technologies Inc |
|
|
7,874 |
|
|
|
603 |
|
| Alexion Pharmaceuticals Inc * |
|
|
1,593 |
|
|
|
156 |
|
| Align Technology Inc * |
|
|
602 |
|
|
|
109 |
|
| Allergan PLC |
|
|
4,194 |
|
|
|
706 |
|
| Alnylam Pharmaceuticals Inc * |
|
|
1,202 |
|
|
|
97 |
|
| AmerisourceBergen Corp, Cl A |
|
|
1,108 |
|
|
|
91 |
|
| Amgen Inc |
|
|
16,833 |
|
|
|
3,257 |
|
| Anthem Inc |
|
|
3,366 |
|
|
|
808 |
|
| Baxter International Inc |
|
|
12,373 |
|
|
|
1,082 |
|
| Becton Dickinson and Co |
|
|
4,437 |
|
|
|
1,122 |
|
| Biogen Inc * |
|
|
3,113 |
|
|
|
725 |
|
| BioMarin Pharmaceutical Inc * |
|
|
1,042 |
|
|
|
70 |
|
| Bio-Rad Laboratories Inc, Cl A * |
|
|
639 |
|
|
|
213 |
|
| Bio-Techne Corp |
|
|
426 |
|
|
|
83 |
|
| Bluebird Bio Inc * |
|
|
645 |
|
|
|
59 |
|
| Boston Scientific Corp * |
|
|
40,840 |
|
|
|
1,662 |
|
| Bristol-Myers Squibb Co |
|
|
29,745 |
|
|
|
1,508 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Bruker Corp |
|
|
1,999 |
|
|
$ |
88 |
|
| Cantel Medical Corp |
|
|
1,233 |
|
|
|
92 |
|
| Cardinal Health Inc |
|
|
2,213 |
|
|
|
104 |
|
| Celgene Corp * |
|
|
8,987 |
|
|
|
892 |
|
| Centene Corp * |
|
|
3,110 |
|
|
|
135 |
|
| Cerner Corp |
|
|
2,541 |
|
|
|
173 |
|
| Charles River Laboratories International Inc * |
|
|
629 |
|
|
|
83 |
|
| Cigna Corp |
|
|
5,007 |
|
|
|
760 |
|
| Cooper Cos Inc/The |
|
|
295 |
|
|
|
88 |
|
| Covetrus Inc * |
|
|
1,045 |
|
|
|
12 |
|
| CVS Health Corp |
|
|
40,246 |
|
|
|
2,538 |
|
| Danaher Corp |
|
|
8,456 |
|
|
|
1,221 |
|
| DaVita Inc * |
|
|
1,647 |
|
|
|
94 |
|
| DENTSPLY SIRONA Inc |
|
|
3,113 |
|
|
|
166 |
|
| DexCom Inc * |
|
|
723 |
|
|
|
108 |
|
| Edwards Lifesciences Corp * |
|
|
2,828 |
|
|
|
622 |
|
| Elanco Animal Health Inc * |
|
|
6,958 |
|
|
|
185 |
|
| Eli Lilly & Co |
|
|
11,479 |
|
|
|
1,284 |
|
| Encompass Health Corp |
|
|
1,377 |
|
|
|
87 |
|
| Exact Sciences Corp * |
|
|
930 |
|
|
|
84 |
|
| Exelixis Inc * |
|
|
4,344 |
|
|
|
77 |
|
| Gilead Sciences Inc |
|
|
18,126 |
|
|
|
1,149 |
|
| HCA Healthcare Inc |
|
|
2,683 |
|
|
|
323 |
|
| Henry Schein Inc * |
|
|
2,612 |
|
|
|
166 |
|
| Hill-Rom Holdings Inc |
|
|
825 |
|
|
|
87 |
|
| Hologic Inc * |
|
|
1,882 |
|
|
|
95 |
|
| Humana Inc * |
|
|
1,372 |
|
|
|
351 |
|
| ICU Medical Inc * |
|
|
374 |
|
|
|
60 |
|
| IDEXX Laboratories Inc * |
|
|
690 |
|
|
|
188 |
|
| Illumina Inc * |
|
|
3,352 |
|
|
|
1,020 |
|
| Incyte Corp * |
|
|
1,063 |
|
|
|
79 |
|
| Insulet Corp * |
|
|
831 |
|
|
|
137 |
|
| Integra LifeSciences Holdings Corp * |
|
|
1,632 |
|
|
|
98 |
|
| Intuitive Surgical Inc * |
|
|
1,480 |
|
|
|
799 |
|
| IQVIA Holdings Inc * |
|
|
1,493 |
|
|
|
223 |
|
| Johnson & Johnson |
|
|
51,318 |
|
|
|
6,640 |
|
| Laboratory Corp of America Holdings * |
|
|
515 |
|
|
|
87 |
|
| McKesson Corp |
|
|
1,711 |
|
|
|
234 |
|
| MEDNAX Inc * |
|
|
2,907 |
|
|
|
66 |
|
| Merck & Co Inc |
|
|
56,489 |
|
|
|
4,755 |
|
| Mettler-Toledo International Inc * |
|
|
562 |
|
|
|
396 |
|
| Moderna Inc * |
|
|
8,718 |
|
|
|
139 |
|
| Mylan NV * |
|
|
3,872 |
|
|
|
77 |
|
| Neurocrine Biosciences Inc * |
|
|
1,089 |
|
|
|
98 |
|
| Penumbra Inc * |
|
|
654 |
|
|
|
88 |
|
| PerkinElmer Inc |
|
|
928 |
|
|
|
79 |
|
| Pfizer Inc |
|
|
86,529 |
|
|
|
3,109 |
|
| PRA Health Sciences Inc * |
|
|
931 |
|
|
|
92 |
|
| Premier Inc, Cl A * |
|
|
2,266 |
|
|
|
66 |
|
| QIAGEN NV * |
|
|
2,338 |
|
|
|
77 |
|
| Quest Diagnostics Inc |
|
|
865 |
|
|
|
93 |
|
| Regeneron Pharmaceuticals Inc * |
|
|
1,105 |
|
|
|
307 |
|
|
|
|
| |
|
| 4 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| ResMed Inc |
|
|
2,930 |
|
|
$ |
396 |
|
| Sage Therapeutics Inc * |
|
|
516 |
|
|
|
72 |
|
| Sarepta Therapeutics Inc * |
|
|
703 |
|
|
|
53 |
|
| STERIS PLC |
|
|
1,661 |
|
|
|
240 |
|
| Stryker Corp |
|
|
4,567 |
|
|
|
988 |
|
| Teleflex Inc |
|
|
742 |
|
|
|
252 |
|
| Thermo Fisher Scientific Inc |
|
|
5,514 |
|
|
|
1,606 |
|
| UnitedHealth Group Inc |
|
|
19,922 |
|
|
|
4,329 |
|
| Universal Health Services Inc, Cl B |
|
|
698 |
|
|
|
104 |
|
| Varian Medical Systems Inc * |
|
|
1,773 |
|
|
|
211 |
|
| Veeva Systems Inc, Cl A * |
|
|
904 |
|
|
|
138 |
|
| Vertex Pharmaceuticals Inc * |
|
|
2,772 |
|
|
|
470 |
|
| Waters Corp * |
|
|
395 |
|
|
|
88 |
|
| WellCare Health Plans Inc * |
|
|
313 |
|
|
|
81 |
|
| West Pharmaceutical Services Inc |
|
|
1,875 |
|
|
|
266 |
|
| Zimmer Biomet Holdings Inc |
|
|
4,581 |
|
|
|
629 |
|
| Zoetis Inc, Cl A |
|
|
5,626 |
|
|
|
701 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58,237 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Industrials — 8.2% |
|
|
|
|
|
|
|
|
| 3M Co |
|
|
13,677 |
|
|
|
2,248 |
|
| Acuity Brands Inc |
|
|
598 |
|
|
|
81 |
|
| AECOM * |
|
|
6,633 |
|
|
|
249 |
|
| AGCO Corp |
|
|
1,171 |
|
|
|
89 |
|
| Alaska Air Group Inc |
|
|
3,175 |
|
|
|
206 |
|
| Allegion PLC |
|
|
855 |
|
|
|
89 |
|
| Allison Transmission Holdings Inc |
|
|
1,870 |
|
|
|
88 |
|
| American Airlines Group Inc |
|
|
26,880 |
|
|
|
725 |
|
| AMETEK Inc |
|
|
1,121 |
|
|
|
103 |
|
| AO Smith Corp |
|
|
1,708 |
|
|
|
81 |
|
| Arconic Inc |
|
|
7,379 |
|
|
|
192 |
|
| Armstrong World Industries Inc |
|
|
979 |
|
|
|
95 |
|
| BWX Technologies Inc |
|
|
6,269 |
|
|
|
359 |
|
| CH Robinson Worldwide Inc |
|
|
1,051 |
|
|
|
89 |
|
| Cintas Corp |
|
|
1,907 |
|
|
|
511 |
|
| Clean Harbors Inc * |
|
|
1,228 |
|
|
|
95 |
|
| Copart Inc * |
|
|
1,284 |
|
|
|
103 |
|
| CoStar Group Inc * |
|
|
266 |
|
|
|
158 |
|
| Crane Co |
|
|
999 |
|
|
|
81 |
|
| CSX Corp |
|
|
9,694 |
|
|
|
671 |
|
| Cummins Inc |
|
|
3,179 |
|
|
|
517 |
|
| Curtiss-Wright Corp |
|
|
1,789 |
|
|
|
231 |
|
| Deere & Co |
|
|
4,735 |
|
|
|
799 |
|
| Delta Air Lines Inc |
|
|
28,033 |
|
|
|
1,615 |
|
| Donaldson Co Inc |
|
|
1,646 |
|
|
|
86 |
|
| Dover Corp |
|
|
2,207 |
|
|
|
220 |
|
| Eaton Corp PLC |
|
|
13,217 |
|
|
|
1,099 |
|
| Emerson Electric Co |
|
|
6,592 |
|
|
|
441 |
|
| Equifax Inc |
|
|
719 |
|
|
|
101 |
|
| Expeditors International of Washington Inc |
|
|
1,163 |
|
|
|
86 |
|
| Fastenal Co |
|
|
6,120 |
|
|
|
200 |
|
| FedEx Corp |
|
|
3,607 |
|
|
|
525 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Flowserve Corp |
|
|
1,726 |
|
|
$ |
81 |
|
| Fluor Corp |
|
|
4,373 |
|
|
|
84 |
|
| Fortune Brands Home & Security Inc |
|
|
1,585 |
|
|
|
87 |
|
| Gardner Denver Holdings Inc * |
|
|
2,502 |
|
|
|
71 |
|
| Gates Industrial Corp PLC * |
|
|
6,472 |
|
|
|
65 |
|
| General Electric Co |
|
|
121,638 |
|
|
|
1,087 |
|
| Graco Inc |
|
|
1,670 |
|
|
|
77 |
|
| GrafTech International Ltd |
|
|
7,088 |
|
|
|
91 |
|
| HD Supply Holdings Inc * |
|
|
1,986 |
|
|
|
78 |
|
| HEICO Corp |
|
|
4,884 |
|
|
|
610 |
|
| HEICO Corp, Cl A |
|
|
1,813 |
|
|
|
176 |
|
| Hexcel Corp |
|
|
4,105 |
|
|
|
337 |
|
| Honeywell International Inc |
|
|
10,659 |
|
|
|
1,803 |
|
| Hubbell Inc, Cl B |
|
|
682 |
|
|
|
90 |
|
| IDEX Corp |
|
|
555 |
|
|
|
91 |
|
| IHS Markit Ltd * |
|
|
3,910 |
|
|
|
261 |
|
| Illinois Tool Works Inc |
|
|
12,876 |
|
|
|
2,015 |
|
| ITT Inc |
|
|
1,404 |
|
|
|
86 |
|
| Jacobs Engineering Group Inc |
|
|
1,091 |
|
|
|
100 |
|
| JetBlue Airways Corp * |
|
|
4,688 |
|
|
|
79 |
|
| Johnson Controls International plc |
|
|
19,263 |
|
|
|
845 |
|
| Kansas City Southern |
|
|
1,741 |
|
|
|
232 |
|
| Kirby Corp * |
|
|
1,032 |
|
|
|
85 |
|
| Landstar System Inc |
|
|
2,284 |
|
|
|
257 |
|
| Lennox International Inc |
|
|
310 |
|
|
|
75 |
|
| Lincoln Electric Holdings Inc |
|
|
1,027 |
|
|
|
89 |
|
| Lyft Inc, Cl A * |
|
|
1,333 |
|
|
|
54 |
|
| Macquarie Infrastructure Corp |
|
|
2,041 |
|
|
|
81 |
|
| ManpowerGroup Inc |
|
|
3,586 |
|
|
|
302 |
|
| Masco Corp |
|
|
6,315 |
|
|
|
263 |
|
| Middleby Corp/The * |
|
|
632 |
|
|
|
74 |
|
| MSC Industrial Direct Co Inc, Cl A |
|
|
1,115 |
|
|
|
81 |
|
| Nielsen Holdings PLC |
|
|
10,117 |
|
|
|
215 |
|
| Nordson Corp |
|
|
600 |
|
|
|
88 |
|
| Norfolk Southern Corp |
|
|
3,218 |
|
|
|
578 |
|
| nVent Electric PLC |
|
|
3,298 |
|
|
|
73 |
|
| Oshkosh Corp |
|
|
2,762 |
|
|
|
209 |
|
| Owens Corning |
|
|
4,958 |
|
|
|
313 |
|
| PACCAR Inc |
|
|
2,150 |
|
|
|
151 |
|
| Parker-Hannifin Corp |
|
|
1,231 |
|
|
|
222 |
|
| Pentair PLC |
|
|
4,928 |
|
|
|
186 |
|
| Quanta Services Inc |
|
|
2,291 |
|
|
|
87 |
|
| Regal Beloit Corp |
|
|
1,068 |
|
|
|
78 |
|
| Republic Services Inc, Cl A |
|
|
2,647 |
|
|
|
229 |
|
| Resideo Technologies Inc * |
|
|
448 |
|
|
|
6 |
|
| Rockwell Automation Inc |
|
|
1,620 |
|
|
|
267 |
|
| Rollins Inc |
|
|
2,355 |
|
|
|
80 |
|
| Roper Technologies Inc |
|
|
1,151 |
|
|
|
410 |
|
| Ryder System Inc |
|
|
1,425 |
|
|
|
74 |
|
| Schneider National Inc, Cl B |
|
|
4,347 |
|
|
|
94 |
|
| Sensata Technologies Holding PLC * |
|
|
4,273 |
|
|
|
214 |
|
| Southwest Airlines Co |
|
|
4,524 |
|
|
|
244 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
5 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Spirit AeroSystems Holdings Inc, Cl A |
|
|
8,213 |
|
|
$ |
675 |
|
| Stanley Black & Decker Inc |
|
|
1,349 |
|
|
|
195 |
|
| Stericycle Inc * |
|
|
1,710 |
|
|
|
87 |
|
| Teledyne Technologies Inc * |
|
|
878 |
|
|
|
283 |
|
| Timken Co/The |
|
|
1,715 |
|
|
|
75 |
|
| Toro Co/The |
|
|
1,175 |
|
|
|
86 |
|
| TransDigm Group Inc * |
|
|
1,732 |
|
|
|
902 |
|
| TransUnion |
|
|
3,412 |
|
|
|
277 |
|
| Trinity Industries Inc |
|
|
3,977 |
|
|
|
78 |
|
| Uber Technologies * |
|
|
2,024 |
|
|
|
62 |
|
| Union Pacific Corp |
|
|
12,488 |
|
|
|
2,023 |
|
| United Airlines Holdings Inc * |
|
|
2,850 |
|
|
|
252 |
|
| United Parcel Service Inc, Cl B |
|
|
9,414 |
|
|
|
1,128 |
|
| United Rentals Inc * |
|
|
1,692 |
|
|
|
211 |
|
| Univar Inc * |
|
|
10,632 |
|
|
|
221 |
|
| Valmont Industries Inc |
|
|
689 |
|
|
|
95 |
|
| Verisk Analytics Inc, Cl A |
|
|
1,729 |
|
|
|
273 |
|
| WABCO Holdings Inc * |
|
|
649 |
|
|
|
87 |
|
| Wabtec Corp |
|
|
465 |
|
|
|
33 |
|
| Waste Management Inc |
|
|
6,467 |
|
|
|
744 |
|
| Watsco Inc |
|
|
537 |
|
|
|
91 |
|
| WESCO International Inc * |
|
|
3,527 |
|
|
|
168 |
|
| Woodward Inc |
|
|
769 |
|
|
|
83 |
|
| WW Grainger Inc |
|
|
5,055 |
|
|
|
1,502 |
|
| XPO Logistics Inc * |
|
|
1,396 |
|
|
|
100 |
|
| Xylem Inc/NY |
|
|
8,168 |
|
|
|
650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36,239 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Information Technology — 21.8% |
|
|
|
|
|
|
|
|
| 2U Inc * |
|
|
2,061 |
|
|
|
34 |
|
| Adobe Inc * |
|
|
11,869 |
|
|
|
3,279 |
|
| Advanced Micro Devices Inc * |
|
|
10,606 |
|
|
|
307 |
|
| Akamai Technologies Inc * |
|
|
3,119 |
|
|
|
285 |
|
| Alliance Data Systems Corp |
|
|
1,335 |
|
|
|
171 |
|
| Alteryx Inc, Cl A * |
|
|
810 |
|
|
|
87 |
|
| Amdocs Ltd |
|
|
3,632 |
|
|
|
240 |
|
| Amphenol Corp, Cl A |
|
|
2,838 |
|
|
|
274 |
|
| Analog Devices Inc |
|
|
4,564 |
|
|
|
510 |
|
| Anaplan Inc * |
|
|
1,752 |
|
|
|
82 |
|
| ANSYS Inc * |
|
|
448 |
|
|
|
99 |
|
| Apple Inc |
|
|
74,954 |
|
|
|
16,787 |
|
| Applied Materials Inc |
|
|
10,761 |
|
|
|
537 |
|
| Arista Networks Inc * |
|
|
768 |
|
|
|
183 |
|
| Arrow Electronics Inc * |
|
|
2,550 |
|
|
|
190 |
|
| Atlassian Corp PLC, Cl A * |
|
|
665 |
|
|
|
83 |
|
| Autodesk Inc * |
|
|
3,559 |
|
|
|
526 |
|
| Automatic Data Processing Inc |
|
|
14,168 |
|
|
|
2,287 |
|
| Avnet Inc |
|
|
1,892 |
|
|
|
84 |
|
| Black Knight Inc * |
|
|
1,569 |
|
|
|
96 |
|
| Booz Allen Hamilton Holding Corp, Cl A |
|
|
1,402 |
|
|
|
100 |
|
| Broadcom Inc |
|
|
6,023 |
|
|
|
1,663 |
|
| Broadridge Financial Solutions Inc |
|
|
720 |
|
|
|
90 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Cadence Design Systems Inc * |
|
|
2,046 |
|
|
$ |
135 |
|
| CDK Global Inc |
|
|
1,636 |
|
|
|
79 |
|
| CDW Corp/DE |
|
|
806 |
|
|
|
99 |
|
| Cisco Systems Inc |
|
|
68,588 |
|
|
|
3,389 |
|
| Citrix Systems Inc |
|
|
1,980 |
|
|
|
191 |
|
| Cognex Corp |
|
|
1,834 |
|
|
|
90 |
|
| Cognizant Technology Solutions Corp, Cl A |
|
|
8,315 |
|
|
|
501 |
|
| Coherent Inc * |
|
|
626 |
|
|
|
96 |
|
| CommScope Holding Co Inc * |
|
|
7,086 |
|
|
|
83 |
|
| CoreLogic Inc/United States * |
|
|
2,160 |
|
|
|
100 |
|
| Corning Inc |
|
|
6,104 |
|
|
|
174 |
|
| Coupa Software Inc * |
|
|
688 |
|
|
|
89 |
|
| Cree Inc * |
|
|
1,483 |
|
|
|
73 |
|
| Cypress Semiconductor Corp |
|
|
13,021 |
|
|
|
304 |
|
| Dell Technologies Inc, Cl C * |
|
|
4,108 |
|
|
|
213 |
|
| DocuSign Inc, Cl A * |
|
|
1,618 |
|
|
|
100 |
|
| DXC Technology Co |
|
|
5,395 |
|
|
|
159 |
|
| Elastic NV * |
|
|
2,388 |
|
|
|
197 |
|
| EPAM Systems Inc * |
|
|
1,434 |
|
|
|
261 |
|
| Euronet Worldwide Inc * |
|
|
567 |
|
|
|
83 |
|
| F5 Networks Inc * |
|
|
578 |
|
|
|
81 |
|
| Fair Isaac Corp * |
|
|
299 |
|
|
|
91 |
|
| Fidelity National Information Services Inc |
|
|
9,658 |
|
|
|
1,282 |
|
| FireEye Inc * |
|
|
5,502 |
|
|
|
73 |
|
| First Solar Inc * |
|
|
3,538 |
|
|
|
205 |
|
| Fiserv Inc * |
|
|
8,888 |
|
|
|
921 |
|
| FleetCor Technologies Inc * |
|
|
729 |
|
|
|
209 |
|
| FLIR Systems Inc |
|
|
1,671 |
|
|
|
88 |
|
| Fortinet Inc * |
|
|
1,036 |
|
|
|
80 |
|
| Genpact Ltd |
|
|
6,870 |
|
|
|
266 |
|
| Global Payments Inc |
|
|
3,176 |
|
|
|
505 |
|
| GoDaddy Inc, Cl A * |
|
|
1,102 |
|
|
|
73 |
|
| Guidewire Software Inc * |
|
|
824 |
|
|
|
87 |
|
| IAC/InterActiveCorp * |
|
|
376 |
|
|
|
82 |
|
| Intel Corp |
|
|
67,438 |
|
|
|
3,475 |
|
| International Business Machines Corp |
|
|
13,123 |
|
|
|
1,908 |
|
| Intuit Inc |
|
|
3,714 |
|
|
|
988 |
|
| IPG Photonics Corp * |
|
|
558 |
|
|
|
76 |
|
| Jabil Inc |
|
|
6,948 |
|
|
|
249 |
|
| Jack Henry & Associates Inc |
|
|
636 |
|
|
|
93 |
|
| Juniper Networks Inc |
|
|
7,826 |
|
|
|
194 |
|
| Keysight Technologies Inc * |
|
|
3,329 |
|
|
|
324 |
|
| KLA-Tencor Corp |
|
|
1,904 |
|
|
|
304 |
|
| Lam Research Corp |
|
|
5,705 |
|
|
|
1,318 |
|
| Littelfuse Inc |
|
|
487 |
|
|
|
86 |
|
| LogMeIn Inc |
|
|
1,076 |
|
|
|
76 |
|
| Manhattan Associates Inc * |
|
|
1,278 |
|
|
|
103 |
|
| Marvell Technology Group Ltd |
|
|
3,312 |
|
|
|
83 |
|
| Mastercard Inc, Cl A |
|
|
13,682 |
|
|
|
3,716 |
|
| Maxim Integrated Products Inc |
|
|
3,740 |
|
|
|
217 |
|
| Microchip Technology Inc |
|
|
16,703 |
|
|
|
1,552 |
|
| Micron Technology Inc * |
|
|
29,536 |
|
|
|
1,266 |
|
|
|
|
| |
|
| 6 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Microsoft Corp |
|
|
119,663 |
|
|
$ |
16,637 |
|
| MKS Instruments Inc |
|
|
1,029 |
|
|
|
95 |
|
| MongoDB Inc, Cl A * |
|
|
574 |
|
|
|
69 |
|
| Monolithic Power Systems Inc |
|
|
630 |
|
|
|
98 |
|
| National Instruments Corp |
|
|
4,960 |
|
|
|
208 |
|
| NCR Corp * |
|
|
2,759 |
|
|
|
87 |
|
| NetApp Inc |
|
|
2,936 |
|
|
|
154 |
|
| Nutanix Inc, Cl A * |
|
|
2,317 |
|
|
|
61 |
|
| NVIDIA Corp |
|
|
9,892 |
|
|
|
1,722 |
|
| Okta Inc, Cl A * |
|
|
812 |
|
|
|
80 |
|
| ON Semiconductor Corp * |
|
|
9,649 |
|
|
|
185 |
|
| Oracle Corp |
|
|
34,708 |
|
|
|
1,910 |
|
| Pagerduty Inc * |
|
|
1,821 |
|
|
|
51 |
|
| Palo Alto Networks Inc * |
|
|
541 |
|
|
|
110 |
|
| Paychex Inc |
|
|
2,612 |
|
|
|
216 |
|
| PayPal Holdings Inc * |
|
|
18,658 |
|
|
|
1,933 |
|
| Pegasystems Inc |
|
|
1,214 |
|
|
|
83 |
|
| Pluralsight Inc, Cl A * |
|
|
2,621 |
|
|
|
44 |
|
| Proofpoint Inc * |
|
|
706 |
|
|
|
91 |
|
| Pure Storage Inc, Cl A * |
|
|
3,883 |
|
|
|
66 |
|
| Qorvo Inc * |
|
|
2,803 |
|
|
|
208 |
|
| QUALCOMM Inc |
|
|
31,230 |
|
|
|
2,382 |
|
| RealPage Inc * |
|
|
1,444 |
|
|
|
91 |
|
| RingCentral Inc, Cl A * |
|
|
699 |
|
|
|
88 |
|
| Sabre Corp |
|
|
4,174 |
|
|
|
93 |
|
| salesforce.com * |
|
|
18,882 |
|
|
|
2,803 |
|
| ServiceNow Inc * |
|
|
2,242 |
|
|
|
569 |
|
| Skyworks Solutions Inc |
|
|
2,779 |
|
|
|
220 |
|
| Smartsheet Inc, Cl A * |
|
|
1,824 |
|
|
|
66 |
|
| SolarWinds Corp * |
|
|
4,908 |
|
|
|
91 |
|
| Splunk Inc * |
|
|
1,095 |
|
|
|
129 |
|
| Square Inc, Cl A * |
|
|
2,891 |
|
|
|
179 |
|
| Switch Inc, Cl A |
|
|
7,588 |
|
|
|
119 |
|
| Symantec Corp |
|
|
13,065 |
|
|
|
309 |
|
| Synopsys Inc * |
|
|
1,083 |
|
|
|
149 |
|
| Teradata Corp * |
|
|
4,437 |
|
|
|
138 |
|
| Teradyne Inc |
|
|
4,784 |
|
|
|
277 |
|
| Texas Instruments Inc |
|
|
13,483 |
|
|
|
1,743 |
|
| Trade Desk Inc/The, Cl A * |
|
|
376 |
|
|
|
71 |
|
| Trimble Inc * |
|
|
2,035 |
|
|
|
79 |
|
| Twilio Inc, Cl A * |
|
|
639 |
|
|
|
70 |
|
| Tyler Technologies Inc * |
|
|
393 |
|
|
|
103 |
|
| Universal Display Corp |
|
|
521 |
|
|
|
87 |
|
| VeriSign Inc * |
|
|
780 |
|
|
|
147 |
|
| Versum Materials Inc |
|
|
4,128 |
|
|
|
218 |
|
| Visa Inc, Cl A |
|
|
34,604 |
|
|
|
5,952 |
|
| VMware Inc, Cl A * |
|
|
1,343 |
|
|
|
202 |
|
| Western Digital Corp |
|
|
2,423 |
|
|
|
144 |
|
| Western Union Co/The |
|
|
4,423 |
|
|
|
102 |
|
| WEX Inc * |
|
|
415 |
|
|
|
84 |
|
| Workday Inc, Cl A * |
|
|
2,079 |
|
|
|
353 |
|
| Xerox Holdings |
|
|
7,073 |
|
|
|
212 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Xilinx Inc |
|
|
2,632 |
|
|
$ |
252 |
|
| Zebra Technologies Corp, Cl A * |
|
|
438 |
|
|
|
90 |
|
| Zendesk Inc * |
|
|
968 |
|
|
|
71 |
|
| Zscaler Inc * |
|
|
1,122 |
|
|
|
53 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Materials — 3.3% |
|
|
|
|
|
|
|
|
| Air Products & Chemicals Inc |
|
|
4,688 |
|
|
|
1,040 |
|
| Albemarle Corp |
|
|
1,720 |
|
|
|
120 |
|
| Alcoa Corp * |
|
|
5,657 |
|
|
|
114 |
|
| AptarGroup Inc |
|
|
1,944 |
|
|
|
230 |
|
| Ashland Global Holdings Inc |
|
|
1,131 |
|
|
|
87 |
|
| Avery Dennison Corp |
|
|
2,082 |
|
|
|
236 |
|
| Axalta Coating Systems Ltd * |
|
|
7,963 |
|
|
|
240 |
|
| Ball Corp |
|
|
14,154 |
|
|
|
1,031 |
|
| Berry Global Group Inc * |
|
|
4,123 |
|
|
|
162 |
|
| Cabot Corp |
|
|
5,731 |
|
|
|
260 |
|
| Celanese Corp, Cl A |
|
|
1,119 |
|
|
|
137 |
|
| Corteva Inc |
|
|
9,937 |
|
|
|
278 |
|
| Crown Holdings Inc * |
|
|
6,925 |
|
|
|
457 |
|
| Domtar Corp |
|
|
4,337 |
|
|
|
155 |
|
| Dow Inc |
|
|
7,697 |
|
|
|
367 |
|
| DuPont de Nemours Inc |
|
|
9,937 |
|
|
|
709 |
|
| Eagle Materials Inc |
|
|
964 |
|
|
|
87 |
|
| Eastman Chemical Co |
|
|
11,106 |
|
|
|
820 |
|
| Ecolab Inc |
|
|
3,153 |
|
|
|
624 |
|
| Element Solutions Inc * |
|
|
7,705 |
|
|
|
78 |
|
| FMC Corp |
|
|
2,400 |
|
|
|
210 |
|
| Freeport-McMoRan Inc |
|
|
55,083 |
|
|
|
527 |
|
| Graphic Packaging Holding Co |
|
|
6,282 |
|
|
|
93 |
|
| Huntsman Corp |
|
|
4,321 |
|
|
|
100 |
|
| International Flavors & Fragrances Inc |
|
|
2,307 |
|
|
|
283 |
|
| International Paper Co |
|
|
4,549 |
|
|
|
190 |
|
| Linde PLC |
|
|
7,642 |
|
|
|
1,480 |
|
| LyondellBasell Industries NV, Cl A |
|
|
2,182 |
|
|
|
195 |
|
| Martin Marietta Materials Inc |
|
|
397 |
|
|
|
109 |
|
| Mosaic Co/The |
|
|
3,590 |
|
|
|
74 |
|
| Newmont Goldcorp Corp |
|
|
32,004 |
|
|
|
1,214 |
|
| Nucor Corp |
|
|
1,510 |
|
|
|
77 |
|
| Packaging Corp of America |
|
|
876 |
|
|
|
93 |
|
| PPG Industries Inc |
|
|
2,274 |
|
|
|
269 |
|
| Sealed Air Corp |
|
|
1,978 |
|
|
|
82 |
|
| Sherwin-Williams Co/The |
|
|
2,451 |
|
|
|
1,348 |
|
| Sonoco Products Co |
|
|
3,525 |
|
|
|
205 |
|
| Southern Copper Corp |
|
|
2,407 |
|
|
|
82 |
|
| Steel Dynamics Inc |
|
|
2,648 |
|
|
|
79 |
|
| Valvoline Inc |
|
|
11,216 |
|
|
|
247 |
|
| Vulcan Materials Co |
|
|
665 |
|
|
|
101 |
|
| Westrock Co |
|
|
3,989 |
|
|
|
145 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real Estate — 3.4% |
|
|
|
|
|
|
|
|
| Alexandria Real Estate Equities Inc ‡ |
|
|
1,497 |
|
|
|
231 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
7 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| American Campus Communities
Inc ‡ |
|
|
1,870 |
|
|
$ |
90 |
|
| American Tower Corp,
Cl A ‡ |
|
|
6,167 |
|
|
|
1,364 |
|
| Apartment Investment & Management Co, Cl A ‡ |
|
|
1,721 |
|
|
|
90 |
|
| Apple Hospitality REIT
Inc ‡ |
|
|
5,196 |
|
|
|
86 |
|
| AvalonBay Communities
Inc ‡ |
|
|
3,261 |
|
|
|
702 |
|
| Boston Properties
Inc ‡ |
|
|
1,468 |
|
|
|
190 |
|
| Brandywine Realty
Trust ‡ |
|
|
14,492 |
|
|
|
220 |
|
| Brixmor Property Group
Inc ‡ |
|
|
4,703 |
|
|
|
95 |
|
| Brookfield Property REIT Inc, Cl A ‡ |
|
|
4,643 |
|
|
|
95 |
|
| Camden Property
Trust ‡ |
|
|
850 |
|
|
|
94 |
|
| CBRE Group Inc, Cl A * |
|
|
4,438 |
|
|
|
235 |
|
| Colony Capital
Inc ‡ |
|
|
41,643 |
|
|
|
251 |
|
| Columbia Property Trust
Inc ‡ |
|
|
3,886 |
|
|
|
82 |
|
| Corporate Office Properties Trust ‡ |
|
|
7,752 |
|
|
|
231 |
|
| Cousins Properties |
|
|
2,400 |
|
|
|
90 |
|
| Crown Castle International
Corp ‡ |
|
|
4,791 |
|
|
|
666 |
|
|
CubeSmart ‡ |
|
|
2,615 |
|
|
|
91 |
|
| CyrusOne
Inc ‡ |
|
|
1,416 |
|
|
|
112 |
|
| Digital Realty Trust
Inc ‡ |
|
|
1,874 |
|
|
|
243 |
|
| Douglas Emmett
Inc ‡ |
|
|
5,367 |
|
|
|
230 |
|
| Duke Realty
Corp ‡ |
|
|
2,798 |
|
|
|
95 |
|
| Empire State Realty Trust Inc, Cl A ‡ |
|
|
5,592 |
|
|
|
80 |
|
| Equinix
Inc ‡ |
|
|
963 |
|
|
|
555 |
|
| Equity
Commonwealth *‡ |
|
|
2,677 |
|
|
|
92 |
|
| Equity LifeStyle Properties
Inc ‡ |
|
|
734 |
|
|
|
98 |
|
| Equity
Residential ‡ |
|
|
3,485 |
|
|
|
301 |
|
| Essex Property Trust
Inc ‡ |
|
|
303 |
|
|
|
99 |
|
| Extra Space Storage
Inc ‡ |
|
|
811 |
|
|
|
95 |
|
| Federal Realty Investment
Trust ‡ |
|
|
664 |
|
|
|
90 |
|
| Gaming and Leisure Properties Inc ‡ |
|
|
2,146 |
|
|
|
82 |
|
| HCP
Inc ‡ |
|
|
6,436 |
|
|
|
229 |
|
| Healthcare Trust of America Inc, Cl A ‡ |
|
|
3,127 |
|
|
|
92 |
|
| Highwoods Properties
Inc ‡ |
|
|
1,945 |
|
|
|
87 |
|
| Host Hotels & Resorts Inc ‡ |
|
|
17,568 |
|
|
|
304 |
|
| Howard Hughes Corp/The * |
|
|
795 |
|
|
|
103 |
|
| Hudson Pacific Properties
Inc ‡ |
|
|
2,475 |
|
|
|
83 |
|
| Iron Mountain
Inc ‡ |
|
|
5,996 |
|
|
|
194 |
|
| JBG SMITH
Properties ‡ |
|
|
2,065 |
|
|
|
81 |
|
| Jones Lang LaSalle Inc |
|
|
1,270 |
|
|
|
177 |
|
| Kilroy Realty
Corp ‡ |
|
|
4,516 |
|
|
|
352 |
|
| Kimco Realty
Corp ‡ |
|
|
4,679 |
|
|
|
98 |
|
| Lamar Advertising Co,
Cl A ‡ |
|
|
1,059 |
|
|
|
87 |
|
| Liberty Property
Trust ‡ |
|
|
1,784 |
|
|
|
92 |
|
| Life Storage
Inc ‡ |
|
|
901 |
|
|
|
95 |
|
| Macerich
Co/The ‡ |
|
|
5,238 |
|
|
|
165 |
|
| Mid-America Apartment Communities Inc ‡ |
|
|
772 |
|
|
|
100 |
|
| Paramount Group
Inc ‡ |
|
|
5,922 |
|
|
|
79 |
|
| Prologis
Inc ‡ |
|
|
18,853 |
|
|
|
1,607 |
|
| Public
Storage ‡ |
|
|
1,424 |
|
|
|
349 |
|
| Realty Income
Corp ‡ |
|
|
2,296 |
|
|
|
176 |
|
| Regency Centers
Corp ‡ |
|
|
3,123 |
|
|
|
217 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Retail Properties of America Inc, Cl A ‡ |
|
|
6,789 |
|
|
$ |
84 |
|
| SBA Communications Corp, Cl A ‡ |
|
|
994 |
|
|
|
240 |
|
| Service Properties Trust * |
|
|
3,299 |
|
|
|
85 |
|
| Simon Property Group
Inc ‡ |
|
|
3,706 |
|
|
|
577 |
|
| SL Green Realty
Corp ‡ |
|
|
2,476 |
|
|
|
202 |
|
| STORE Capital
Corp ‡ |
|
|
2,555 |
|
|
|
96 |
|
| Taubman Centers
Inc ‡ |
|
|
1,690 |
|
|
|
69 |
|
| UDR
Inc ‡ |
|
|
1,932 |
|
|
|
94 |
|
| Ventas
Inc ‡ |
|
|
3,279 |
|
|
|
239 |
|
| VEREIT
Inc ‡ |
|
|
10,217 |
|
|
|
100 |
|
| Vornado Realty
Trust ‡ |
|
|
2,903 |
|
|
|
185 |
|
| Weingarten Realty
Investors ‡ |
|
|
2,933 |
|
|
|
85 |
|
| Welltower
Inc ‡ |
|
|
4,270 |
|
|
|
387 |
|
| Weyerhaeuser
Co ‡ |
|
|
17,005 |
|
|
|
471 |
|
| WP Carey
Inc ‡ |
|
|
1,084 |
|
|
|
97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Utilities — 3.4% |
|
|
|
|
|
|
|
|
| AES Corp/VA |
|
|
5,282 |
|
|
|
86 |
|
| Alliant Energy Corp |
|
|
4,695 |
|
|
|
253 |
|
| Ameren Corp |
|
|
1,172 |
|
|
|
94 |
|
| American Electric Power Co Inc |
|
|
5,930 |
|
|
|
556 |
|
| American Water Works Co Inc |
|
|
2,717 |
|
|
|
338 |
|
| Aqua America Inc |
|
|
2,221 |
|
|
|
100 |
|
| Avangrid Inc |
|
|
1,720 |
|
|
|
90 |
|
| CenterPoint Energy Inc |
|
|
7,150 |
|
|
|
216 |
|
| CMS Energy Corp |
|
|
22,380 |
|
|
|
1,431 |
|
| Consolidated Edison Inc |
|
|
3,086 |
|
|
|
292 |
|
| Dominion Energy Inc |
|
|
9,975 |
|
|
|
808 |
|
| DTE Energy Co |
|
|
9,809 |
|
|
|
1,304 |
|
| Duke Energy Corp |
|
|
9,540 |
|
|
|
914 |
|
| Edison International |
|
|
3,288 |
|
|
|
248 |
|
| Entergy Corp |
|
|
2,276 |
|
|
|
267 |
|
| Evergy Inc |
|
|
1,477 |
|
|
|
98 |
|
| Eversource Energy |
|
|
10,983 |
|
|
|
939 |
|
| Exelon Corp |
|
|
11,090 |
|
|
|
536 |
|
| FirstEnergy Corp |
|
|
3,859 |
|
|
|
186 |
|
| Hawaiian Electric Industries Inc |
|
|
2,040 |
|
|
|
93 |
|
| MDU Resources Group Inc |
|
|
3,334 |
|
|
|
94 |
|
| National Fuel Gas Co |
|
|
1,502 |
|
|
|
70 |
|
| NextEra Energy Inc |
|
|
6,768 |
|
|
|
1,577 |
|
| NiSource Inc |
|
|
13,892 |
|
|
|
416 |
|
| NRG Energy Inc |
|
|
2,300 |
|
|
|
91 |
|
| OGE Energy Corp |
|
|
2,067 |
|
|
|
94 |
|
| PG&E Corp * |
|
|
4,614 |
|
|
|
46 |
|
| Pinnacle West Capital Corp |
|
|
2,640 |
|
|
|
256 |
|
| PPL Corp |
|
|
7,025 |
|
|
|
221 |
|
| Public Service Enterprise Group Inc |
|
|
4,452 |
|
|
|
276 |
|
| Sempra Energy |
|
|
3,086 |
|
|
|
456 |
|
| Southern Co/The |
|
|
13,370 |
|
|
|
826 |
|
| UGI Corp |
|
|
1,560 |
|
|
|
78 |
|
| WEC Energy Group Inc |
|
|
2,779 |
|
|
|
264 |
|
|
|
|
| |
|
| 8 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Growth Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| COMMON STOCK (continued) |
|
|
|
|
|
|
|
|
| Xcel Energy Inc |
|
|
21,147 |
|
|
$ |
1,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
428,008 |
|
|
|
|
|
|
|
|
|
|
| Total Common Stock
(Cost $323,663) ($ Thousands) |
|
|
|
|
|
|
434,301 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
|
| CASH EQUIVALENT — 1.0% |
|
|
|
|
|
|
|
|
| SEI Daily Income Trust, Government Fund, Cl F |
|
|
|
|
|
|
|
|
|
1.800%**† |
|
|
4,271,103 |
|
|
$ |
4,271 |
|
|
|
|
|
|
|
|
|
|
| Total Cash Equivalent
(Cost $4,271) ($ Thousands) |
|
|
|
|
|
|
4,271 |
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities — 99.4%
(Cost $327,934) ($ Thousands) |
|
|
|
|
|
$ |
438,572 |
|
|
|
|
|
|
|
|
|
|
A list of the open futures held by the Fund at
September 30, 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Type of
Contract |
|
Number of
Contracts
Long |
|
Expiration
Date |
|
|
Notional Amount
(Thousands) |
|
Value
(Thousands) |
|
Unrealized
Depreciation
(Thousands) |
|
| S&P 500 Index E-MINI |
|
|
29 |
|
|
|
Dec-2019 |
|
|
$ |
4,357 |
|
|
$ |
4,319 |
|
|
$ |
(38) |
|
| S&P Mid Cap 400 Index E-MINI |
|
|
1 |
|
|
|
Dec-2019 |
|
|
|
195 |
|
|
|
194 |
|
|
|
(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,552 |
|
|
$ |
4,513 |
|
|
$ |
(39) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The futures contracts are considered to have interest rate risk associated with them.
| |
Percentages are based on Net Assets of $441,418 ($ Thousands). |
| * |
Non-income producing security. |
| ** |
Rate shown is the 7-day effective yield as of September 30, 2019. |
| † |
Investment in Affiliated Security. |
| ‡ |
Real Estate Investment Trust. |
| (A) |
Security is a Master Limited Partnership. At September 30, 2019, such securities amounted to $81 ($ Thousands), or
0.02% of the net assets. |
ADR — American Depositary Receipt
Cl — Class
Ltd. — Limited
MSCI — Morgan Stanley Capital International
PLC — Public Limited
Company
S&P— Standard & Poor’s
The following is a list of the level of inputs used as of September 30, 2019, in valuing the Fund’s investments
and other financial instruments carried at value ($ Thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
| Investments in Securities |
|
Level 1
($) |
|
Level 2
($) |
|
Level 3
($) |
|
Total
($) |
| Common Stock |
|
|
434,217 |
|
|
|
84 |
|
|
|
– |
|
|
|
434,301 |
|
| Cash Equivalent |
|
|
4,271 |
|
|
|
– |
|
|
|
– |
|
|
|
4,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities |
|
|
438,488 |
|
|
|
84 |
|
|
|
– |
|
|
|
438,572 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
| Other Financial Instruments |
|
Level 1
($) |
|
Level 2
($) |
|
Level 3
($) |
|
Total
($) |
| Futures Contracts * |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized Depreciation |
|
|
(39 |
) |
|
|
– |
|
|
|
– |
|
|
|
(39 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Other Financial Instruments |
|
|
(39 |
) |
|
|
– |
|
|
|
– |
|
|
|
(39 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Futures contracts are valued at the unrealized depreciation on the instrument.
For the period ended September 30, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the period ended September 30, 2019, there were no transfers between Level 2 and Level 3 assets and liabilities.
For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent
semi-annual and annual financial statements.
The following is a summary of the transactions with affiliates for the period ended September 30, 2019 ($ Thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Security Description |
|
Value 6/30/19 |
|
Purchases at
Cost |
|
Proceeds from
Sales |
|
Realized Gain/
(Loss) |
|
Change in
Unrealized
Appreciation
(Depreciation) |
|
Value 9/30/19 |
|
Shares |
|
Dividend Income |
|
Capital Gains |
| SEI Daily Income Trust, Government Fund, Cl F |
|
$ 8,829 |
|
$ 14,805 |
|
$ (19,363) |
|
$ — |
|
$ — |
|
$ 4,271 |
|
4,271,103 |
|
$ 37 |
|
$ — |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
9 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES — 41.7% |
|
|
| Agency Mortgage-Backed Obligations — 34.1% |
|
| CSMC, Ser USA, Cl B |
|
|
|
|
|
|
|
|
| 4.185%, 09/15/2037 (A) |
|
$ |
470 |
|
|
$ |
499 |
|
| FHLMC |
|
|
|
|
|
|
|
|
| 6.500%, 09/01/2039 |
|
|
34 |
|
|
|
38 |
|
| 5.500%, 12/01/2036 to 12/01/2038 |
|
|
283 |
|
|
|
319 |
|
| 5.000%, 12/01/2020 to 01/01/2049 |
|
|
2,263 |
|
|
|
2,484 |
|
| 4.500%, 06/01/2038 to 06/01/2049 |
|
|
5,597 |
|
|
|
5,997 |
|
| 4.000%, 07/01/2037 to 09/01/2048 |
|
|
5,666 |
|
|
|
5,940 |
|
| 3.500%, 11/01/2042 to 08/01/2049 |
|
|
2,222 |
|
|
|
2,325 |
|
| 3.000%, 08/01/2046 to 10/01/2049 |
|
|
9,175 |
|
|
|
9,385 |
|
| 2.500%, 03/01/2033 to 04/01/2033 |
|
|
909 |
|
|
|
918 |
|
| 2.000%, 09/01/2023 |
|
|
404 |
|
|
|
402 |
|
| FHLMC CMO, Ser 2011-3947, Cl SG, IO |
|
|
|
|
|
|
|
|
| 3.923%, VAR LIBOR USD 1 Month+5.950%, 10/15/2041 |
|
|
271 |
|
|
|
40 |
|
| FHLMC CMO, Ser 2012-4057, Cl UI, IO |
|
|
|
|
|
|
|
|
| 3.000%, 05/15/2027 |
|
|
154 |
|
|
|
10 |
|
| FHLMC CMO, Ser 2012-4085, Cl IO, IO |
|
|
|
|
|
|
|
|
| 3.000%, 06/15/2027 |
|
|
319 |
|
|
|
22 |
|
| FHLMC CMO, Ser 2012-4099, Cl ST, IO |
|
|
|
|
|
|
|
|
| 3.973%, VAR LIBOR USD 1 Month+6.000%, 08/15/2042 |
|
|
127 |
|
|
|
20 |
|
| FHLMC CMO, Ser 2013-4194, Cl BI, IO |
|
|
|
|
|
|
|
|
| 3.500%, 04/15/2043 |
|
|
329 |
|
|
|
36 |
|
| FHLMC CMO, Ser 2013-4203, Cl PS, IO |
|
|
|
|
|
|
|
|
| 4.223%, VAR LIBOR USD 1 Month+6.250%, 09/15/2042 |
|
|
189 |
|
|
|
27 |
|
| FHLMC CMO, Ser 2014-4310, Cl SA, IO |
|
|
|
|
|
|
|
|
| 3.923%, VAR LIBOR USD 1 Month+5.950%, 02/15/2044 |
|
|
50 |
|
|
|
8 |
|
| FHLMC CMO, Ser 2014-4335, Cl SW, IO |
|
|
|
|
|
|
|
|
| 3.973%, VAR LIBOR USD 1 Month+6.000%, 05/15/2044 |
|
|
107 |
|
|
|
17 |
|
| FHLMC CMO, Ser 2014-4415, Cl IO, IO |
|
|
|
|
|
|
|
|
| 2.027%, 04/15/2041 (B) |
|
|
53 |
|
|
|
3 |
|
| FHLMC Multifamily Structured Pass Through Certificates, Ser K091, Cl A2 |
|
|
|
|
|
|
|
|
| 3.505%, 03/25/2029 |
|
|
180 |
|
|
|
200 |
|
| FHLMC Multifamily Structured Pass Through Certificates, Ser K712, Cl X1, IO |
|
|
|
|
|
|
|
|
| 1.372%, 11/25/2019 (B) |
|
|
624 |
|
|
|
– |
|
| FHLMC Structured Agency Credit Risk Debt Notes, Ser 2017-DNA1, Cl M1 |
|
|
|
|
|
|
|
|
| 3.218%, VAR ICE LIBOR USD 1 Month+1.200%, 07/25/2029 |
|
|
193 |
|
|
|
193 |
|
| FHLMC, Ser 2016-353, Cl S1, IO |
|
|
|
|
|
|
|
|
| 3.973%, VAR LIBOR USD 1 Month+6.000%, 12/15/2046 |
|
|
145 |
|
|
|
25 |
|
| FNMA |
|
|
|
|
|
|
|
|
| 7.000%, 11/01/2037 to 11/01/2038 |
|
|
30 |
|
|
|
35 |
|
| 6.500%, 01/01/2038 to 05/01/2040 |
|
|
212 |
|
|
|
244 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| 6.000%, 07/01/2037 to 11/01/2038 |
|
$ |
152 |
|
|
$ |
171 |
|
| 5.500%, 02/01/2035 |
|
|
130 |
|
|
|
147 |
|
| 5.000%, 01/01/2021 to 02/01/2049 |
|
|
8,385 |
|
|
|
9,129 |
|
| 4.893%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+2.268%, 01/01/2036 |
|
|
24 |
|
|
|
25 |
|
| 4.750%, VAR ICE LIBOR USD 12 Month+1.700%, 03/01/2036 |
|
|
27 |
|
|
|
28 |
|
| 4.500%, 02/01/2035 to 04/01/2056 |
|
|
3,445 |
|
|
|
3,713 |
|
| 4.390%, VAR ICE LIBOR USD 12 Month+1.428%, 05/01/2043 |
|
|
278 |
|
|
|
286 |
|
| 4.182%, 11/25/2017 |
|
|
71 |
|
|
|
12 |
|
| 4.000%, 06/01/2025 to 09/01/2047 |
|
|
12,186 |
|
|
|
12,898 |
|
| 3.640%, 11/01/2028 |
|
|
100 |
|
|
|
111 |
|
| 3.500%, 04/01/2033 to 03/01/2057 |
|
|
13,249 |
|
|
|
13,868 |
|
| 3.350%, 05/01/2029 |
|
|
20 |
|
|
|
22 |
|
| 3.160%, 06/01/2029 |
|
|
370 |
|
|
|
399 |
|
| 3.000%, 08/01/2046 to 09/01/2049 |
|
|
4,618 |
|
|
|
4,720 |
|
| 2.850%, 08/01/2031 |
|
|
100 |
|
|
|
105 |
|
| 2.810%, 08/01/2031 |
|
|
100 |
|
|
|
105 |
|
| 2.790%, 08/01/2029 |
|
|
200 |
|
|
|
210 |
|
| 2.770%, 08/01/2031 |
|
|
100 |
|
|
|
104 |
|
| 2.765%, 08/01/2031 |
|
|
100 |
|
|
|
104 |
|
| 2.740%, 08/01/2029 |
|
|
100 |
|
|
|
105 |
|
| 2.500%, 10/01/2042 |
|
|
555 |
|
|
|
555 |
|
| 2.240%, 09/01/2026 |
|
|
142 |
|
|
|
144 |
|
| FNMA CMO, Ser 2003-W2, Cl 2A9 |
|
|
|
|
|
|
|
|
| 5.900%, 07/25/2042 |
|
|
462 |
|
|
|
522 |
|
| FNMA CMO, Ser 2012-93, Cl UI, IO |
|
|
|
|
|
|
|
|
| 3.000%, 09/25/2027 |
|
|
426 |
|
|
|
29 |
|
| FNMA CMO, Ser 2014-47, Cl AI, IO |
|
|
|
|
|
|
|
|
| 2.009%, 08/25/2044 (B) |
|
|
132 |
|
|
|
7 |
|
| FNMA CMO, Ser 2015-55, Cl IO, IO |
|
|
|
|
|
|
|
|
| 1.821%, 08/25/2055 (B) |
|
|
32 |
|
|
|
2 |
|
| FNMA CMO, Ser 2015-56, Cl AS, IO |
|
|
|
|
|
|
|
|
| 4.132%, VAR LIBOR USD 1 Month+6.150%, 08/25/2045 |
|
|
63 |
|
|
|
14 |
|
| FNMA CMO, Ser M3, Cl X2, IO |
|
|
|
|
|
|
|
|
| 0.456%, 10/25/2024 (B) |
|
|
4,191 |
|
|
|
65 |
|
| FNMA Connecticut Avenue Securities, Ser 2014-C04, Cl 1M2 |
|
|
|
|
|
|
|
|
| 6.918%, VAR ICE LIBOR USD 1 Month+4.900%, 11/25/2024 |
|
|
275 |
|
|
|
300 |
|
| FNMA Connecticut Avenue Securities, Ser 2017-C01, Cl 1M1 |
|
|
|
|
|
|
|
|
| 3.318%, VAR ICE LIBOR USD 1 Month+1.300%, 07/25/2029 |
|
|
122 |
|
|
|
123 |
|
| FNMA Connecticut Avenue Securities, Ser 2019-R03, Cl 1M1 |
|
|
|
|
|
|
|
|
| 2.768%, VAR ICE LIBOR USD 1 Month+0.750%, 09/25/2031 (A) |
|
|
323 |
|
|
|
323 |
|
|
|
|
| |
|
| 10 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| FNMA TBA |
|
|
|
|
|
|
|
|
| 5.000%, 10/01/2036 |
|
$ |
1,000 |
|
|
$ |
1,071 |
|
| 4.500%, 10/14/2034 |
|
|
1,000 |
|
|
|
1,053 |
|
| 4.000%, 10/14/2039 |
|
|
300 |
|
|
|
311 |
|
| 3.500%, 10/01/2040 |
|
|
3,600 |
|
|
|
3,717 |
|
| 3.000%, 10/15/2042 |
|
|
2,600 |
|
|
|
2,639 |
|
| FNMA, Ser 2005-29, Cl ZA |
|
|
|
|
|
|
|
|
| 5.500%, 04/25/2035 |
|
|
140 |
|
|
|
160 |
|
| FNMA, Ser 2012-101, Cl BI, IO |
|
|
|
|
|
|
|
|
| 4.000%, 09/25/2027 |
|
|
16 |
|
|
|
1 |
|
| FNMA, Ser 2013-54, Cl BS, IO |
|
|
|
|
|
|
|
|
| 4.132%, VAR LIBOR USD 1 Month+6.150%, 06/25/2043 |
|
|
51 |
|
|
|
11 |
|
| FNMA, Ser 2017-76, Cl SB, IO |
|
|
|
|
|
|
|
|
| 4.082%, VAR LIBOR USD 1 Month+6.100%, 10/25/2057 |
|
|
291 |
|
|
|
57 |
|
| FNMA, Ser M4, Cl A2 |
|
|
|
|
|
|
|
|
| 3.610%, 02/25/2031 |
|
|
80 |
|
|
|
89 |
|
| FNMA, Ser M6, Cl A2 |
|
|
|
|
|
|
|
|
| 3.450%, 01/01/2029 |
|
|
170 |
|
|
|
188 |
|
| FRESB Mortgage Trust, Ser SB48, Cl A10F |
|
|
|
|
|
|
|
|
| 3.370%, 02/25/2028 (B) |
|
|
725 |
|
|
|
773 |
|
| FRESB Mortgage Trust, Ser SB58, Cl A10F |
|
|
|
|
|
|
|
|
| 3.610%, 10/25/2028 (B) |
|
|
1,050 |
|
|
|
1,140 |
|
| GNMA |
|
|
|
|
|
|
|
|
| 5.500%, 02/20/2037 to 01/15/2039 |
|
|
135 |
|
|
|
151 |
|
| 5.000%, 12/20/2038 to 01/20/2049 |
|
|
1,473 |
|
|
|
1,598 |
|
| 4.600%, 09/15/2034 |
|
|
2,150 |
|
|
|
2,315 |
|
| 4.500%, 07/20/2038 to 03/20/2049 |
|
|
4,556 |
|
|
|
4,852 |
|
| 4.000%, 01/15/2041 to 05/20/2049 |
|
|
4,248 |
|
|
|
4,469 |
|
| 3.500%, 06/20/2044 to 09/20/2049 |
|
|
2,732 |
|
|
|
2,852 |
|
| 3.000%, 09/15/2042 to 02/20/2048 |
|
|
579 |
|
|
|
597 |
|
| 2.500%, 02/20/2027 |
|
|
678 |
|
|
|
689 |
|
| GNMA CMO, Ser 186, Cl IO, IO |
|
|
|
|
|
|
|
|
| 0.756%, 08/16/2054 (B) |
|
|
1,581 |
|
|
|
71 |
|
| GNMA CMO, Ser 2012-34, Cl SA, IO |
|
|
|
|
|
|
|
|
| 4.006%, VAR LIBOR USD 1 Month+6.050%, 03/20/2042 |
|
|
36 |
|
|
|
7 |
|
| GNMA CMO, Ser 2012-66, Cl CI, IO |
|
|
|
|
|
|
|
|
| 3.500%, 02/20/2038 |
|
|
71 |
|
|
|
3 |
|
| GNMA CMO, Ser 2012-H18, Cl NA |
|
|
|
|
|
|
|
|
| 2.749%, VAR ICE LIBOR USD 1 Month+0.520%, 08/20/2062 |
|
|
186 |
|
|
|
186 |
|
| GNMA CMO, Ser 2012-H30, Cl GA |
|
|
|
|
|
|
|
|
| 2.579%, VAR ICE LIBOR USD 1 Month+0.350%, 12/20/2062 |
|
|
842 |
|
|
|
840 |
|
| GNMA CMO, Ser 2013-H01, Cl TA |
|
|
|
|
|
|
|
|
| 2.729%, VAR ICE LIBOR USD 1 Month+0.500%, 01/20/2063 |
|
|
12 |
|
|
|
12 |
|
| GNMA CMO, Ser 2013-H08, Cl BF |
|
|
|
|
|
|
|
|
| 2.629%, VAR ICE LIBOR USD 1 Month+0.400%, 03/20/2063 |
|
|
801 |
|
|
|
799 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| GNMA CMO, Ser 2014-105, IO |
|
|
|
|
|
|
|
|
| 1.100%, 06/16/2054 |
|
$ |
1,223 |
|
|
$ |
58 |
|
| GNMA CMO, Ser 2015-167, Cl OI, IO |
|
|
|
|
|
|
|
|
| 4.000%, 04/16/2045 |
|
|
110 |
|
|
|
21 |
|
| GNMA CMO, Ser 2015-H20, Cl FA |
|
|
|
|
|
|
|
|
| 2.699%, VAR ICE LIBOR USD 1 Month+0.470%, 08/20/2065 |
|
|
279 |
|
|
|
279 |
|
| GNMA CMO, Ser 85, Cl IA, IO |
|
|
|
|
|
|
|
|
| 0.692%, 03/16/2047 (B) |
|
|
2,815 |
|
|
|
94 |
|
| GNMA CMO, Ser 95, Cl IO, IO |
|
|
|
|
|
|
|
|
| 0.589%, 04/16/2047 (B) |
|
|
1,502 |
|
|
|
54 |
|
| GNMA TBA |
|
|
|
|
|
|
|
|
| 4.500%, 10/15/2039 |
|
|
200 |
|
|
|
209 |
|
| 4.000%, 10/01/2039 |
|
|
100 |
|
|
|
104 |
|
| 3.500%, 10/15/2041 |
|
|
3,200 |
|
|
|
3,315 |
|
| 3.000%, 10/01/2042 |
|
|
400 |
|
|
|
410 |
|
| GNMA, Ser 2013-H21, Cl FB |
|
|
|
|
|
|
|
|
| 2.929%, VAR ICE LIBOR USD 1 Month+0.700%, 09/20/2063 |
|
|
503 |
|
|
|
505 |
|
| GNMA, Ser 28, Cl AB |
|
|
|
|
|
|
|
|
| 3.150%, 06/16/2060 |
|
|
80 |
|
|
|
82 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
113,315 |
|
|
|
|
|
|
|
|
|
|
|
| Non-Agency Mortgage-Backed Obligations — 7.6% |
|
| 280 Park Avenue Mortgage Trust, Ser 280P, Cl A |
|
|
|
|
|
|
|
|
| 2.908%, VAR ICE LIBOR USD 1 Month+0.880%, 09/15/2034 (A) |
|
|
130 |
|
|
|
130 |
|
| Bear Stearns Trust, Ser 2004-6, Cl 1A |
|
|
|
|
|
|
|
|
| 2.658%, VAR ICE LIBOR USD 1 Month+0.640%, 07/25/2034 |
|
|
60 |
|
|
|
60 |
|
| BX Trust, Ser APPL, Cl A |
|
|
|
|
|
|
|
|
| 2.908%, VAR ICE LIBOR USD 1 Month+0.880%, 07/15/2034 (A) |
|
|
127 |
|
|
|
127 |
|
| Citigroup Commercial Mortgage Trust, Ser 2014-GC25, Cl AS |
|
|
|
|
|
|
|
|
| 4.017%, 10/10/2047 |
|
|
100 |
|
|
|
107 |
|
| Citigroup Commercial Mortgage Trust, Ser 2016-P6, Cl AAB |
|
|
|
|
|
|
|
|
| 3.512%, 12/10/2049 |
|
|
810 |
|
|
|
858 |
|
| Citigroup Commercial Mortgage Trust, Ser 375P, Cl A |
|
|
|
|
|
|
|
|
| 3.251%, 05/10/2035 (A) |
|
|
190 |
|
|
|
197 |
|
| COMM Mortgage Trust, Ser CR5, Cl A4 |
|
|
|
|
|
|
|
|
| 2.771%, 12/10/2045 |
|
|
700 |
|
|
|
713 |
|
| COMM Mortgage Trust, Ser CR5, Cl AM |
|
|
|
|
|
|
|
|
| 3.223%, 12/10/2045 (A) |
|
|
590 |
|
|
|
606 |
|
| COMM Mortgage Trust, Ser CR8, Cl A4 |
|
|
|
|
|
|
|
|
| 3.334%, 06/10/2046 |
|
|
662 |
|
|
|
683 |
|
| Commercial Mortgage Trust, Ser 2013-CR12, Cl AM |
|
|
|
|
|
|
|
|
| 4.300%, 10/10/2046 |
|
|
20 |
|
|
|
22 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
11 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| Commercial Mortgage Trust, Ser 2013-CR12, Cl C |
|
|
|
|
|
|
|
|
| 5.250%, 10/10/2046 (B) |
|
$ |
10 |
|
|
$ |
10 |
|
| Commercial Mortgage Trust, Ser 2013-CR12, Cl B |
|
|
|
|
|
|
|
|
| 4.762%, 10/10/2046 (B) |
|
|
20 |
|
|
|
21 |
|
| CSMC Trust, Ser 2018-J1, Cl A2 |
|
|
|
|
|
|
|
|
| 3.500%, 02/25/2048 (A)(B) |
|
|
1,343 |
|
|
|
1,346 |
|
| DBUBS Mortgage Trust, Ser LC2A, Cl A4 |
|
|
|
|
|
|
|
|
| 4.537%, 07/10/2044 (A) |
|
|
1,009 |
|
|
|
1,036 |
|
| DRB Prime Student Loan Trust, Ser 2015-B, Cl A1 |
|
|
|
|
|
|
|
|
| 3.918%, VAR ICE LIBOR USD 1 Month+1.900%, 10/27/2031 (A) |
|
|
123 |
|
|
|
125 |
|
| Flagstar Mortgage Trust, Ser 2018-2, Cl A4 |
|
|
|
|
|
|
|
|
| 3.500%, 04/25/2048 (A)(B) |
|
|
290 |
|
|
|
295 |
|
| GS Mortgage Securities Trust, Ser 2013-GC16, Cl B |
|
|
|
|
|
|
|
|
| 5.161%, 11/10/2046 (B) |
|
|
80 |
|
|
|
88 |
|
| GS Mortgage Securities Trust, Ser 2018-SRP5, Cl A |
|
|
|
|
|
|
|
|
| 3.281%, 06/09/2021 |
|
|
620 |
|
|
|
612 |
|
| GS Mortgage Securities Trust, Ser 2018-SRP5, Cl B |
|
|
|
|
|
|
|
|
| 4.481%, 06/09/2021 |
|
|
430 |
|
|
|
425 |
|
| JPMBB Commercial Mortgage Securities Trust, Ser 2013-C15, Cl B |
|
|
|
|
|
|
|
|
| 4.927%, 11/15/2045 (B) |
|
|
210 |
|
|
|
229 |
|
| JPMBB Commercial Mortgage Securities Trust, Ser 2013-C17, Cl B |
|
|
|
|
|
|
|
|
| 5.055%, 01/15/2047 (B) |
|
|
30 |
|
|
|
33 |
|
| JPMBB Commercial Mortgage Securities Trust, Ser 2014-C22, Cl C |
|
|
|
|
|
|
|
|
| 4.709%, 09/15/2047 (B) |
|
|
80 |
|
|
|
83 |
|
| JPMorgan Chase Commercial Mortgage Securities Trust, Ser C6, Cl A3 |
|
|
|
|
|
|
|
|
| 3.507%, 05/15/2045 |
|
|
1,126 |
|
|
|
1,161 |
|
| JPMorgan Chase Commercial Mortgage Securities Trust, Ser FL7, Cl D |
|
|
|
|
|
|
|
|
| 5.778%, VAR ICE LIBOR USD 1 Month+3.750%, 05/15/2028 (A) |
|
|
129 |
|
|
|
126 |
|
| JPMorgan Chase Commercial Mortgage Securities Trust, Ser LC9, Cl AS |
|
|
|
|
|
|
|
|
| 3.353%, 12/15/2047 (A) |
|
|
380 |
|
|
|
390 |
|
| JPMorgan Mortgage Trust, Ser 2015-5, Cl A9 |
|
|
|
|
|
|
|
|
| 3.338%, 05/25/2045 (A)(B) |
|
|
98 |
|
|
|
98 |
|
| JPMorgan Mortgage Trust, Ser 2016-1, Cl A5 |
|
|
|
|
|
|
|
|
| 3.500%, 05/25/2046 (A)(B) |
|
|
450 |
|
|
|
453 |
|
| JPMorgan Mortgage Trust, Ser 2018-3, Cl A1 |
|
|
|
|
|
|
|
|
| 3.500%, 09/25/2048 (A)(B) |
|
|
687 |
|
|
|
698 |
|
| JPMorgan Mortgage Trust, Ser 2018-4, Cl A1 |
|
|
|
|
|
|
|
|
| 3.500%, 10/25/2048 (A)(B) |
|
|
263 |
|
|
|
268 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| JPMorgan Mortgage Trust, Ser 2018-5, Cl A1 |
|
|
|
|
|
|
|
|
| 3.500%, 10/25/2048 (A)(B) |
|
$ |
797 |
|
|
$ |
811 |
|
| JPMorgan Mortgage Trust, Ser 2018-6, Cl 1A4 |
|
|
|
|
|
|
|
|
| 3.500%, 12/25/2048 (A)(B) |
|
|
643 |
|
|
|
649 |
|
| Lanark Master Issuer, Ser 2018-1A, Cl 1A |
|
|
|
|
|
|
|
|
| 2.570%, VAR ICE LIBOR USD 3 Month+0.420%, 12/22/2069 (A) |
|
|
614 |
|
|
|
614 |
|
| MAD Mortgage Trust, Ser 330M, Cl A |
|
|
|
|
|
|
|
|
| 3.294%, 08/15/2034 (A)(B) |
|
|
220 |
|
|
|
229 |
|
| Morgan Stanley Bank of America Merrill Lynch Trust, Ser C34, Cl ASB |
|
|
|
|
|
|
|
|
| 3.354%, 11/15/2052 |
|
|
615 |
|
|
|
646 |
|
| Morgan Stanley Bank of America Merrill Lynch Trust, Ser C5, Cl A4 |
|
|
|
|
|
|
|
|
| 3.176%, 08/15/2045 |
|
|
1,475 |
|
|
|
1,511 |
|
| Morgan Stanley Bank of America Merrill Lynch Trust, Ser C9 |
|
|
|
|
|
|
|
|
| 3.102%, 05/15/2046 |
|
|
714 |
|
|
|
735 |
|
| Morgan Stanley Capital I Trust, Ser 2012-C4, Cl A4 |
|
|
|
|
|
|
|
|
| 3.244%, 03/15/2045 |
|
|
220 |
|
|
|
225 |
|
| MSCG Trust, Ser 2016-SNR, Cl C |
|
|
|
|
|
|
|
|
| 5.205%, 11/15/2034 (A) |
|
|
128 |
|
|
|
130 |
|
| MSCG Trust, Ser ALDR, Cl A2 |
|
|
|
|
|
|
|
|
| 3.577%, 06/07/2035 (A)(B) |
|
|
410 |
|
|
|
428 |
|
| Natixis Commercial Mortgage Securities Trust, Ser FAME, Cl B |
|
|
|
|
|
|
|
|
| 3.655%, 08/15/2034 (A) |
|
|
410 |
|
|
|
419 |
|
| New Residential Mortgage Loan Trust, Ser 2019-4A, Cl A1B |
|
|
|
|
|
|
|
|
| 3.500%, 12/25/2058 (A)(B) |
|
|
406 |
|
|
|
417 |
|
| New Residential Mortgage Loan Trust, Ser 2019-NQM4, Cl A1 |
|
|
|
|
|
|
|
|
| 2.492%, 09/25/2059 (A)(B) |
|
|
580 |
|
|
|
580 |
|
| Nomura Asset Acceptance Alternative Loan Trust, Ser 2007-1, Cl 1A3 |
|
|
|
|
|
|
|
|
| 5.957%, 03/25/2047 |
|
|
74 |
|
|
|
78 |
|
| Seasoned Credit Risk Transfer Trust, Ser 2019-1, Cl MA |
|
|
|
|
|
|
|
|
| 3.500%, 07/25/2058 |
|
|
974 |
|
|
|
1,016 |
|
| Seasoned Credit Risk Transfer Trust, Ser 2019-2, Cl MA |
|
|
|
|
|
|
|
|
| 3.500%, 08/25/2058 |
|
|
803 |
|
|
|
840 |
|
| Sequoia Mortgage Trust, Ser 2017-1, Cl A4 |
|
|
|
|
|
|
|
|
| 3.500%, 02/25/2047 (A)(B) |
|
|
714 |
|
|
|
724 |
|
| Sequoia Mortgage Trust, Ser 2017-5, Cl A4 |
|
|
|
|
|
|
|
|
| 3.500%, 08/25/2047 (A)(B) |
|
|
791 |
|
|
|
806 |
|
| Sequoia Mortgage Trust, Ser 2017-6, Cl A4 |
|
|
|
|
|
|
|
|
| 3.500%, 09/25/2047 (A)(B) |
|
|
398 |
|
|
|
404 |
|
| Towd Point Mortgage Trust, Ser 2015-5, Cl A1B |
|
|
|
|
|
|
|
|
| 2.750%, 05/25/2055 (A)(B) |
|
|
226 |
|
|
|
227 |
|
|
|
|
| |
|
| 12 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| MORTGAGE-BACKED SECURITIES (continued) |
|
| UBS-BAMLL Trust, Ser 2012-WRM, Cl A |
|
|
|
|
|
|
|
|
| 3.663%, 06/10/2030 (A) |
|
$ |
116 |
|
|
$ |
119 |
|
| UBS-Barclays Commercial Mortgage Trust, Ser 2012-C2, Cl A4 |
|
|
|
|
|
|
|
|
| 3.525%, 05/10/2063 |
|
|
73 |
|
|
|
75 |
|
| UBS-Barclays Commercial Mortgage Trust, Ser 2012-CN, Cl XA, IO |
|
|
|
|
|
|
|
|
| 1.470%, 05/10/2063 (A)(B) |
|
|
335 |
|
|
|
10 |
|
| Wells Fargo Commercial Mortgage Trust, Ser 2015-NXS3, Cl NXS3 |
|
|
|
|
|
|
|
|
| 3.371%, 09/15/2057 |
|
|
160 |
|
|
|
166 |
|
| WFRBS Commercial Mortgage Trust, Ser 2012-C7, Cl XA, IO |
|
|
|
|
|
|
|
|
| 1.509%, 06/15/2045 (A)(B) |
|
|
1,091 |
|
|
|
30 |
|
| WFRBS Commercial Mortgage Trust, Ser 2013-C13, Cl XA, IO |
|
|
|
|
|
|
|
|
| 1.336%, 05/15/2045 (A)(B) |
|
|
1,095 |
|
|
|
40 |
|
| WFRBS Commercial Mortgage Trust, Ser 2014-C23, Cl XA, IO |
|
|
|
|
|
|
|
|
| 0.736%, 10/15/2057 (B) |
|
|
1,122 |
|
|
|
28 |
|
| WFRBS Commercial Mortgage Trust, Ser 2014-C23, Cl B |
|
|
|
|
|
|
|
|
| 4.530%, 10/15/2057 (B) |
|
|
270 |
|
|
|
291 |
|
| WFRBS Commercial Mortgage Trust, Ser C11, Cl AS |
|
|
|
|
|
|
|
|
| 3.311%, 03/15/2045 |
|
|
160 |
|
|
|
165 |
|
| WFRBS Commercial Mortgage Trust, Ser C4, Cl A4 |
|
|
|
|
|
|
|
|
| 4.902%, 06/15/2044 (A)(B) |
|
|
1,796 |
|
|
|
1,855 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,268 |
|
|
|
|
|
|
|
|
|
|
| Total Mortgage-Backed Securities
(Cost $136,768) ($ Thousands) |
|
|
|
138,583 |
|
|
|
|
|
|
|
|
|
|
|
| CORPORATE OBLIGATIONS — 29.1% |
|
|
| Communication Services — 2.5% |
|
| AT&T |
|
|
|
|
|
|
|
|
| 4.250%, 03/01/2027 |
|
|
150 |
|
|
|
163 |
|
| 4.125%, 02/17/2026 |
|
|
408 |
|
|
|
441 |
|
| 3.875%, 08/15/2021 |
|
|
10 |
|
|
|
10 |
|
| 3.721%, 11/27/2022 (A)(C) |
|
|
2,000 |
|
|
|
1,851 |
|
| 3.400%, 05/15/2025 |
|
|
460 |
|
|
|
480 |
|
| 3.000%, 06/30/2022 |
|
|
10 |
|
|
|
10 |
|
| Charter Communications Operating |
|
|
|
|
|
|
|
|
| 5.050%, 03/30/2029 |
|
|
20 |
|
|
|
22 |
|
| 4.908%, 07/23/2025 |
|
|
110 |
|
|
|
121 |
|
| 3.750%, 02/15/2028 |
|
|
20 |
|
|
|
21 |
|
| 3.579%, 07/23/2020 |
|
|
30 |
|
|
|
30 |
|
| Comcast |
|
|
|
|
|
|
|
|
| 4.150%, 10/15/2028 |
|
|
80 |
|
|
|
90 |
|
| 3.950%, 10/15/2025 |
|
|
150 |
|
|
|
163 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Comcast Cable Communications Holdings |
|
|
|
|
|
|
|
|
| 9.455%, 11/15/2022 |
|
$ |
1,116 |
|
|
$ |
1,366 |
|
| Cox Communications |
|
|
|
|
|
|
|
|
| 3.250%, 12/15/2022 (A) |
|
|
859 |
|
|
|
882 |
|
| Fox |
|
|
|
|
|
|
|
|
| 4.709%, 01/25/2029 (A) |
|
|
40 |
|
|
|
46 |
|
| NBCUniversal Media |
|
|
|
|
|
|
|
|
| 4.375%, 04/01/2021 |
|
|
10 |
|
|
|
10 |
|
| Sprint Spectrum |
|
|
|
|
|
|
|
|
| 3.360%, 09/20/2021 (A) |
|
|
385 |
|
|
|
386 |
|
| TCI Communications |
|
|
|
|
|
|
|
|
| 7.875%, 02/15/2026 |
|
|
240 |
|
|
|
314 |
|
| Telefonica Emisiones SAU |
|
|
|
|
|
|
|
|
| 4.895%, 03/06/2048 |
|
|
340 |
|
|
|
379 |
|
| Tencent Holdings MTN |
|
|
|
|
|
|
|
|
| 3.595%, 01/19/2028 (A) |
|
|
250 |
|
|
|
261 |
|
| Verizon Communications |
|
|
|
|
|
|
|
|
| 3.875%, 02/08/2029 |
|
|
30 |
|
|
|
33 |
|
| 3.376%, 02/15/2025 |
|
|
232 |
|
|
|
245 |
|
| 2.625%, 08/15/2026 |
|
|
513 |
|
|
|
520 |
|
| Viacom |
|
|
|
|
|
|
|
|
| 3.875%, 04/01/2024 |
|
|
20 |
|
|
|
21 |
|
| Vodafone Group PLC |
|
|
|
|
|
|
|
|
| 3.750%, 01/16/2024 |
|
|
410 |
|
|
|
432 |
|
| Walt Disney |
|
|
|
|
|
|
|
|
| 3.000%, 09/15/2022 (A) |
|
|
30 |
|
|
|
31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,328 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Consumer Discretionary — 1.9% |
|
|
|
|
|
|
|
|
| Amazon.com |
|
|
|
|
|
|
|
|
| 3.150%, 08/22/2027 |
|
|
470 |
|
|
|
499 |
|
| BMW US Capital |
|
|
|
|
|
|
|
|
| 2.150%, 04/06/2020 (A) |
|
|
950 |
|
|
|
950 |
|
| 1.850%, 09/15/2021 (A) |
|
|
20 |
|
|
|
20 |
|
| Ford Motor Credit |
|
|
|
|
|
|
|
|
| 8.125%, 01/15/2020 |
|
|
340 |
|
|
|
346 |
|
| 2.597%, 11/04/2019 |
|
|
800 |
|
|
|
800 |
|
| General Motors Financial |
|
|
|
|
|
|
|
|
| 4.150%, 06/19/2023 |
|
|
600 |
|
|
|
624 |
|
| 3.700%, 11/24/2020 |
|
|
80 |
|
|
|
81 |
|
| 3.700%, 05/09/2023 |
|
|
190 |
|
|
|
194 |
|
| 3.150%, 01/15/2020 |
|
|
330 |
|
|
|
330 |
|
| 2.450%, 11/06/2020 |
|
|
30 |
|
|
|
30 |
|
| KazMunayGas National JSC |
|
|
|
|
|
|
|
|
| 5.375%, 04/24/2030 (A) |
|
|
400 |
|
|
|
449 |
|
| McDonald’s MTN |
|
|
|
|
|
|
|
|
| 3.350%, 04/01/2023 |
|
|
280 |
|
|
|
292 |
|
| Newell Brands |
|
|
|
|
|
|
|
|
| 3.850%, 04/01/2023 |
|
|
53 |
|
|
|
55 |
|
| Time Warner Cable |
|
|
|
|
|
|
|
|
| 5.000%, 02/01/2020 |
|
|
990 |
|
|
|
998 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
13 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Volkswagen Group of America Finance |
|
|
|
|
|
|
|
|
| 4.625%, 11/13/2025 (A) |
|
$ |
461 |
|
|
$ |
508 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,176 |
|
|
|
|
|
|
|
|
|
|
|
| Consumer Staples — 0.4% |
|
| Kraft Heinz Foods |
|
|
|
|
|
|
|
|
| 4.875%, 02/15/2025 (A) |
|
|
48 |
|
|
|
49 |
|
| Mars |
|
|
|
|
|
|
|
|
| 3.200%, 04/01/2030 (A) |
|
|
30 |
|
|
|
32 |
|
| 2.700%, 04/01/2025 (A) |
|
|
60 |
|
|
|
62 |
|
| PepsiCo |
|
|
|
|
|
|
|
|
| 3.000%, 08/25/2021 |
|
|
290 |
|
|
|
296 |
|
| 2.750%, 03/05/2022 |
|
|
80 |
|
|
|
82 |
|
| Smithfield Foods |
|
|
|
|
|
|
|
|
| 2.700%, 01/31/2020 (A) |
|
|
330 |
|
|
|
330 |
|
| Walmart |
|
|
|
|
|
|
|
|
| 3.050%, 07/08/2026 |
|
|
100 |
|
|
|
106 |
|
| WM Wrigley Jr |
|
|
|
|
|
|
|
|
| 2.900%, 10/21/2019 (A) |
|
|
360 |
|
|
|
360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,317 |
|
|
|
|
|
|
|
|
|
|
|
|
| Energy — 2.8% |
|
|
|
|
|
| Apache |
|
|
|
|
|
|
|
|
| 3.250%, 04/15/2022 |
|
|
616 |
|
|
|
627 |
|
| Baker Hughes a GE |
|
|
|
|
|
|
|
|
| 3.200%, 08/15/2021 |
|
|
26 |
|
|
|
26 |
|
| BP Capital Markets America |
|
|
|
|
|
|
|
|
| 3.790%, 02/06/2024 |
|
|
80 |
|
|
|
85 |
|
| 3.410%, 02/11/2026 |
|
|
40 |
|
|
|
42 |
|
| 3.216%, 11/28/2023 |
|
|
90 |
|
|
|
93 |
|
| 3.119%, 05/04/2026 |
|
|
170 |
|
|
|
177 |
|
| BP Capital Markets PLC |
|
|
|
|
|
|
|
|
| 3.535%, 11/04/2024 |
|
|
20 |
|
|
|
21 |
|
| Chevron |
|
|
|
|
|
|
|
|
| 2.100%, 05/16/2021 |
|
|
130 |
|
|
|
131 |
|
| 1.991%, 03/03/2020 |
|
|
1,150 |
|
|
|
1,150 |
|
| Cimarex Energy |
|
|
|
|
|
|
|
|
| 4.375%, 06/01/2024 |
|
|
50 |
|
|
|
53 |
|
| 3.900%, 05/15/2027 |
|
|
50 |
|
|
|
51 |
|
| Concho Resources |
|
|
|
|
|
|
|
|
| 4.375%, 01/15/2025 |
|
|
10 |
|
|
|
10 |
|
| 4.300%, 08/15/2028 |
|
|
30 |
|
|
|
32 |
|
| 3.750%, 10/01/2027 |
|
|
20 |
|
|
|
21 |
|
| Continental Resources |
|
|
|
|
|
|
|
|
| 4.375%, 01/15/2028 |
|
|
20 |
|
|
|
21 |
|
| 3.800%, 06/01/2024 |
|
|
160 |
|
|
|
163 |
|
| Devon Energy |
|
|
|
|
|
|
|
|
| 5.850%, 12/15/2025 |
|
|
70 |
|
|
|
83 |
|
| Energy Transfer Operating |
|
|
|
|
|
|
|
|
| 5.500%, 06/01/2027 |
|
|
604 |
|
|
|
683 |
|
| Enterprise Products Operating |
|
|
|
|
|
|
|
|
| 4.150%, 10/16/2028 |
|
|
80 |
|
|
|
89 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| 3.900%, 02/15/2024 |
|
$ |
457 |
|
|
$ |
486 |
|
| EOG Resources |
|
|
|
|
|
|
|
|
| 4.150%, 01/15/2026 |
|
|
60 |
|
|
|
66 |
|
| ExxonMobil |
|
|
|
|
|
|
|
|
| 3.043%, 03/01/2026 |
|
|
150 |
|
|
|
157 |
|
| Halliburton |
|
|
|
|
|
|
|
|
| 3.800%, 11/15/2025 |
|
|
10 |
|
|
|
11 |
|
| 3.250%, 11/15/2021 |
|
|
180 |
|
|
|
184 |
|
| Kinder Morgan Energy Partners |
|
|
|
|
|
|
|
|
| 3.500%, 03/01/2021 |
|
|
30 |
|
|
|
30 |
|
| MidAmerican Energy |
|
|
|
|
|
|
|
|
| 3.650%, 04/15/2029 |
|
|
140 |
|
|
|
154 |
|
| MPLX |
|
|
|
|
|
|
|
|
| 4.800%, 02/15/2029 |
|
|
50 |
|
|
|
55 |
|
| 4.125%, 03/01/2027 |
|
|
110 |
|
|
|
116 |
|
| 4.000%, 03/15/2028 |
|
|
40 |
|
|
|
42 |
|
| Noble Energy |
|
|
|
|
|
|
|
|
| 4.150%, 12/15/2021 |
|
|
290 |
|
|
|
301 |
|
| Occidental Petroleum |
|
|
|
|
|
|
|
|
| 5.550%, 03/15/2026 |
|
|
180 |
|
|
|
203 |
|
| 4.100%, 02/01/2021 |
|
|
50 |
|
|
|
51 |
|
| 3.400%, 04/15/2026 |
|
|
80 |
|
|
|
81 |
|
| 3.125%, 02/15/2022 |
|
|
100 |
|
|
|
102 |
|
| 3.000%, 02/15/2027 |
|
|
130 |
|
|
|
129 |
|
| 2.600%, 08/13/2021 |
|
|
250 |
|
|
|
252 |
|
| 4.423%, 10/10/2036 (C) |
|
|
3,000 |
|
|
|
1,482 |
|
| Phillips 66 Partners |
|
|
|
|
|
|
|
|
| 2.450%, 12/15/2024 |
|
|
413 |
|
|
|
411 |
|
| Schlumberger Holdings |
|
|
|
|
|
|
|
|
| 3.900%, 05/17/2028 (A) |
|
|
706 |
|
|
|
747 |
|
| Sinopec Group Overseas Development |
|
|
|
|
|
|
|
|
| 4.375%, 04/10/2024 (A) |
|
|
290 |
|
|
|
313 |
|
| Sunoco Logistics Partners Operations |
|
|
|
|
|
|
|
|
| 3.900%, 07/15/2026 |
|
|
439 |
|
|
|
455 |
|
| Williams |
|
|
|
|
|
|
|
|
| 5.250%, 03/15/2020 |
|
|
40 |
|
|
|
41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,427 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financials — 12.2% |
|
|
|
|
|
|
|
|
| American Express |
|
|
|
|
|
|
|
|
| 3.400%, 02/27/2023 |
|
|
972 |
|
|
|
1,009 |
|
| 2.650%, 12/02/2022 |
|
|
264 |
|
|
|
268 |
|
| American Express Credit MTN |
|
|
|
|
|
|
|
|
| 2.375%, 05/26/2020 |
|
|
80 |
|
|
|
80 |
|
| 2.200%, 03/03/2020 |
|
|
710 |
|
|
|
710 |
|
| Anglo American Capital |
|
|
|
|
|
|
|
|
| 3.625%, 09/11/2024 (A) |
|
|
200 |
|
|
|
207 |
|
| Banco Santander |
|
|
|
|
|
|
|
|
| 4.379%, 04/12/2028 |
|
|
200 |
|
|
|
219 |
|
| 3.460%, VAR ICE LIBOR USD 3 Month+1.120%, 04/12/2023 |
|
|
200 |
|
|
|
200 |
|
|
|
|
| |
|
| 14 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Bank of America |
|
|
|
|
|
|
|
|
| 3.419%, VAR ICE LIBOR USD 3 Month+1.040%, 12/20/2028 |
|
$ |
234 |
|
|
$ |
244 |
|
| 3.004%, VAR ICE LIBOR USD 3 Month+0.790%, 12/20/2023 |
|
|
258 |
|
|
|
263 |
|
| Bank of America MTN |
|
|
|
|
|
|
|
|
| 4.450%, 03/03/2026 |
|
|
678 |
|
|
|
739 |
|
| 4.200%, 08/26/2024 |
|
|
210 |
|
|
|
225 |
|
| 4.125%, 01/22/2024 |
|
|
370 |
|
|
|
398 |
|
| 4.100%, 07/24/2023 |
|
|
280 |
|
|
|
299 |
|
| 4.000%, 04/01/2024 |
|
|
440 |
|
|
|
472 |
|
| 4.000%, 01/22/2025 |
|
|
80 |
|
|
|
85 |
|
| 3.974%, VAR ICE LIBOR USD 3 Month+1.210%, 02/07/2030 |
|
|
80 |
|
|
|
87 |
|
| 3.593%, VAR ICE LIBOR USD 3 Month+1.370%, 07/21/2028 |
|
|
210 |
|
|
|
222 |
|
| 3.550%, VAR ICE LIBOR USD 3 Month+0.780%, 03/05/2024 |
|
|
80 |
|
|
|
83 |
|
| 3.500%, 04/19/2026 |
|
|
130 |
|
|
|
138 |
|
| 3.300%, 01/11/2023 |
|
|
60 |
|
|
|
62 |
|
| Bank of New York Mellon MTN |
|
|
|
|
|
|
|
|
| 3.300%, 08/23/2029 |
|
|
790 |
|
|
|
825 |
|
| Barclays Bank |
|
|
|
|
|
|
|
|
| 2.650%, 01/11/2021 |
|
|
1,199 |
|
|
|
1,203 |
|
| BNP Paribas |
|
|
|
|
|
|
|
|
| 5.198%, VAR ICE LIBOR USD 3 Month+2.567%, 01/10/2030 (A) |
|
|
400 |
|
|
|
468 |
|
| 4.705%, VAR ICE LIBOR USD 3 Month+2.235%, 01/10/2025 (A) |
|
|
270 |
|
|
|
292 |
|
| 4.400%, 08/14/2028 (A) |
|
|
200 |
|
|
|
221 |
|
| BPCE MTN |
|
|
|
|
|
|
|
|
| 3.000%, 05/22/2022 (A) |
|
|
640 |
|
|
|
649 |
|
| Capital One |
|
|
|
|
|
|
|
|
| 2.650%, 08/08/2022 |
|
|
830 |
|
|
|
840 |
|
| Charles Schwab |
|
|
|
|
|
|
|
|
| 3.850%, 05/21/2025 |
|
|
110 |
|
|
|
119 |
|
| Citigroup |
|
|
|
|
|
|
|
|
| 8.125%, 07/15/2039 |
|
|
12 |
|
|
|
20 |
|
| 5.500%, 09/13/2025 |
|
|
150 |
|
|
|
170 |
|
| 5.300%, 05/06/2044 |
|
|
31 |
|
|
|
39 |
|
| 4.650%, 07/30/2045 |
|
|
28 |
|
|
|
34 |
|
| 4.450%, 09/29/2027 |
|
|
120 |
|
|
|
131 |
|
| 4.400%, 06/10/2025 |
|
|
160 |
|
|
|
172 |
|
| 4.300%, 11/20/2026 |
|
|
40 |
|
|
|
43 |
|
| 4.125%, 07/25/2028 |
|
|
40 |
|
|
|
43 |
|
| 4.075%, VAR ICE LIBOR USD 3 Month+1.192%, 04/23/2029 |
|
|
240 |
|
|
|
261 |
|
| 4.050%, 07/30/2022 |
|
|
40 |
|
|
|
42 |
|
| 3.668%, VAR ICE LIBOR USD 3 Month+1.390%, 07/24/2028 |
|
|
340 |
|
|
|
360 |
|
| 3.500%, 05/15/2023 |
|
|
100 |
|
|
|
104 |
|
| 3.400%, 05/01/2026 |
|
|
354 |
|
|
|
370 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Cooperatieve Rabobank UA |
|
|
|
|
|
|
|
|
| 3.950%, 11/09/2022 |
|
$ |
670 |
|
|
$ |
698 |
|
| 3.875%, 09/26/2023 (A) |
|
|
595 |
|
|
|
630 |
|
| Credit Suisse Group |
|
|
|
|
|
|
|
|
| 4.282%, 01/09/2028 (A) |
|
|
280 |
|
|
|
301 |
|
| Daiwa Securities Group |
|
|
|
|
|
|
|
|
| 3.129%, 04/19/2022 (A) |
|
|
50 |
|
|
|
51 |
|
| Danske Bank |
|
|
|
|
|
|
|
|
| 5.000%, 01/12/2022 (A) |
|
|
200 |
|
|
|
210 |
|
| 3.001%, VAR ICE LIBOR USD 3 Month+1.249%, 09/20/2022 (A) |
|
|
200 |
|
|
|
201 |
|
| Ferguson Finance |
|
|
|
|
|
|
|
|
| 4.500%, 10/24/2028 (A) |
|
|
780 |
|
|
|
836 |
|
| General Electric Capital MTN |
|
|
|
|
|
|
|
|
| 4.650%, 10/17/2021 |
|
|
180 |
|
|
|
187 |
|
| 4.375%, 09/16/2020 |
|
|
10 |
|
|
|
10 |
|
| Glencore Funding |
|
|
|
|
|
|
|
|
| 2.875%, 04/16/2020 (A) |
|
|
20 |
|
|
|
20 |
|
| Goldman Sachs Group |
|
|
|
|
|
|
|
|
| 5.750%, 01/24/2022 |
|
|
662 |
|
|
|
713 |
|
| 5.150%, 05/22/2045 |
|
|
20 |
|
|
|
24 |
|
| 4.750%, 10/21/2045 |
|
|
40 |
|
|
|
48 |
|
| 4.250%, 10/21/2025 |
|
|
90 |
|
|
|
96 |
|
| 4.223%, VAR ICE LIBOR USD 3 Month+1.301%, 05/01/2029 |
|
|
550 |
|
|
|
600 |
|
| 3.691%, VAR ICE LIBOR USD 3 Month+1.510%, 06/05/2028 |
|
|
300 |
|
|
|
315 |
|
| 3.500%, 11/16/2026 |
|
|
90 |
|
|
|
94 |
|
| 2.300%, 12/13/2019 |
|
|
460 |
|
|
|
460 |
|
| Goldman Sachs Group MTN |
|
|
|
|
|
|
|
|
| 6.000%, 06/15/2020 |
|
|
480 |
|
|
|
493 |
|
| 5.375%, 03/15/2020 |
|
|
640 |
|
|
|
649 |
|
| 4.000%, 03/03/2024 |
|
|
420 |
|
|
|
448 |
|
| HSBC Holdings PLC |
|
|
|
|
|
|
|
|
| 4.583%, VAR ICE LIBOR USD 3 Month+1.535%, 06/19/2029 |
|
|
400 |
|
|
|
443 |
|
| 3.400%, 03/08/2021 |
|
|
360 |
|
|
|
365 |
|
| 2.950%, 05/25/2021 |
|
|
380 |
|
|
|
384 |
|
| Intesa Sanpaolo |
|
|
|
|
|
|
|
|
| 3.375%, 01/12/2023 (A) |
|
|
200 |
|
|
|
202 |
|
| John Deere Capital |
|
|
|
|
|
|
|
|
| 1.700%, 01/15/2020 |
|
|
40 |
|
|
|
40 |
|
| JPMorgan Chase |
|
|
|
|
|
|
|
|
| 4.500%, 01/24/2022 |
|
|
786 |
|
|
|
829 |
|
| 4.452%, VAR ICE LIBOR USD 3 Month+1.330%, 12/05/2029 |
|
|
200 |
|
|
|
226 |
|
| 4.203%, VAR ICE LIBOR USD 3 Month+1.260%, 07/23/2029 |
|
|
773 |
|
|
|
857 |
|
| 4.023%, VAR ICE LIBOR USD 3 Month+1.000%, 12/05/2024 |
|
|
230 |
|
|
|
245 |
|
| 4.005%, VAR ICE LIBOR USD 3 Month+1.120%, 04/23/2029 |
|
|
100 |
|
|
|
109 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
15 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| 3.875%, 09/10/2024 |
|
$ |
290 |
|
|
$ |
309 |
|
| 2.550%, 03/01/2021 |
|
|
30 |
|
|
|
30 |
|
| KKR Group Finance VI |
|
|
|
|
|
|
|
|
| 3.750%, 07/01/2029 (A) |
|
|
595 |
|
|
|
627 |
|
| Liberty Mutual Group |
|
|
|
|
|
|
|
|
| 4.569%, 02/01/2029 (A) |
|
|
321 |
|
|
|
358 |
|
| 4.250%, 06/15/2023 (A) |
|
|
91 |
|
|
|
96 |
|
| Lincoln National |
|
|
|
|
|
|
|
|
| 6.250%, 02/15/2020 |
|
|
570 |
|
|
|
578 |
|
| Lloyds Banking Group |
|
|
|
|
|
|
|
|
| 2.858%, VAR ICE LIBOR USD 3 Month+1.249%, 03/17/2023 |
|
|
434 |
|
|
|
435 |
|
| Mitsubishi UFJ Financial Group |
|
|
|
|
|
|
|
|
| 3.407%, 03/07/2024 |
|
|
510 |
|
|
|
531 |
|
| Morgan Stanley MTN |
|
|
|
|
|
|
|
|
| 3.772%, VAR ICE LIBOR USD 3 Month+1.140%, 01/24/2029 |
|
|
320 |
|
|
|
342 |
|
| 3.750%, 02/25/2023 |
|
|
1,810 |
|
|
|
1,892 |
|
| National Rural Utilities Cooperative Finance |
|
|
|
|
|
|
|
|
| 2.850%, 01/27/2025 |
|
|
1,060 |
|
|
|
1,093 |
|
| ORIX |
|
|
|
|
|
|
|
|
| 4.050%, 01/16/2024 |
|
|
365 |
|
|
|
389 |
|
| Peachtree Corners Funding Trust |
|
|
|
|
|
|
|
|
| 3.976%, 02/15/2025 (A) |
|
|
944 |
|
|
|
994 |
|
| Penske Truck Leasing Lp |
|
|
|
|
|
|
|
|
| 3.900%, 02/01/2024 (A) |
|
|
965 |
|
|
|
1,016 |
|
| PNC Financial Services Group |
|
|
|
|
|
|
|
|
| 3.500%, 01/23/2024 |
|
|
805 |
|
|
|
850 |
|
| Principal Life Global Funding II |
|
|
|
|
|
|
|
|
| 2.625%, 11/19/2020 (A) |
|
|
570 |
|
|
|
573 |
|
| Reliance Standard Life Global
Funding II MTN |
|
|
|
|
|
|
|
|
| 2.500%, 01/15/2020 (A) |
|
|
30 |
|
|
|
30 |
|
| Royal Bank of Canada MTN |
|
|
|
|
|
|
|
|
| 2.150%, 10/26/2020 |
|
|
70 |
|
|
|
70 |
|
| Royal Bank of Scotland Group |
|
|
|
|
|
|
|
|
| 4.269%, VAR ICE LIBOR USD 3 Month+1.762%, 03/22/2025 |
|
|
200 |
|
|
|
209 |
|
| Royal Bank of Scotland Group PLC |
|
|
|
|
|
|
|
|
| 4.519%, VAR ICE LIBOR USD 3 Month+1.550%, 06/25/2024 |
|
|
290 |
|
|
|
305 |
|
| Santander UK Group Holdings PLC |
|
|
|
|
|
|
|
|
| 3.571%, 01/10/2023 |
|
|
200 |
|
|
|
203 |
|
| Santander UK PLC |
|
|
|
|
|
|
|
|
| 2.375%, 03/16/2020 |
|
|
40 |
|
|
|
40 |
|
| SMBC Aviation Capital Finance DAC |
|
|
|
|
|
|
|
|
| 4.125%, 07/15/2023 (A) |
|
|
200 |
|
|
|
210 |
|
| SunTrust Bank |
|
|
|
|
|
|
|
|
| 2.800%, 05/17/2022 |
|
|
1,146 |
|
|
|
1,166 |
|
| Svenska Handelsbanken MTN |
|
|
|
|
|
|
|
|
| 3.350%, 05/24/2021 |
|
|
250 |
|
|
|
255 |
|
| UBS Group Funding Jersey |
|
|
|
|
|
|
|
|
| 4.125%, 04/15/2026 (A) |
|
|
634 |
|
|
|
689 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| UBS Group Funding Switzerland |
|
|
|
|
|
|
|
|
| 4.253%, 03/23/2028 (A) |
|
$ |
250 |
|
|
$ |
273 |
|
| 3.491%, 05/23/2023 (A) |
|
|
390 |
|
|
|
400 |
|
| US Bancorp |
|
|
|
|
|
|
|
|
| 3.375%, 02/05/2024 |
|
|
540 |
|
|
|
568 |
|
| USAA Capital MTN |
|
|
|
|
|
|
|
|
| 2.625%, 06/01/2021 (A) |
|
|
350 |
|
|
|
354 |
|
| Wells Fargo |
|
|
|
|
|
|
|
|
| 3.069%, 01/24/2023 |
|
|
808 |
|
|
|
823 |
|
| 3.000%, 10/23/2026 |
|
|
190 |
|
|
|
195 |
|
| Wells Fargo MTN |
|
|
|
|
|
|
|
|
| 4.900%, 11/17/2045 |
|
|
30 |
|
|
|
36 |
|
| 4.600%, 04/01/2021 |
|
|
480 |
|
|
|
497 |
|
| 4.300%, 07/22/2027 |
|
|
200 |
|
|
|
219 |
|
| 3.750%, 01/24/2024 |
|
|
540 |
|
|
|
571 |
|
| 3.450%, 02/13/2023 |
|
|
120 |
|
|
|
124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Health Care — 2.0% |
|
|
|
|
|
|
|
|
| Abbott Laboratories |
|
|
|
|
|
|
|
|
| 3.400%, 11/30/2023 |
|
|
175 |
|
|
|
184 |
|
| AbbVie |
|
|
|
|
|
|
|
|
| 3.600%, 05/14/2025 |
|
|
10 |
|
|
|
11 |
|
| Aetna |
|
|
|
|
|
|
|
|
| 2.800%, 06/15/2023 |
|
|
20 |
|
|
|
20 |
|
| Amgen |
|
|
|
|
|
|
|
|
| 2.125%, 05/01/2020 |
|
|
20 |
|
|
|
20 |
|
| Anthem |
|
|
|
|
|
|
|
|
| 3.125%, 05/15/2022 |
|
|
340 |
|
|
|
348 |
|
| Baylor Scott & White Holdings |
|
|
|
|
|
|
|
|
| 1.947%, 11/15/2021 |
|
|
1,226 |
|
|
|
1,219 |
|
| Becton Dickinson |
|
|
|
|
|
|
|
|
| 4.685%, 12/15/2044 |
|
|
40 |
|
|
|
46 |
|
| 3.734%, 12/15/2024 |
|
|
24 |
|
|
|
25 |
|
| 3.363%, 06/06/2024 |
|
|
210 |
|
|
|
219 |
|
| Bristol-Myers Squibb |
|
|
|
|
|
|
|
|
| 3.400%, 07/26/2029 (A) |
|
|
50 |
|
|
|
53 |
|
| 3.200%, 06/15/2026 (A) |
|
|
120 |
|
|
|
126 |
|
| 2.900%, 07/26/2024 (A) |
|
|
180 |
|
|
|
186 |
|
| 2.600%, 05/16/2022 (A) |
|
|
80 |
|
|
|
81 |
|
| Celgene |
|
|
|
|
|
|
|
|
| 3.875%, 08/15/2025 |
|
|
130 |
|
|
|
140 |
|
| 3.550%, 08/15/2022 |
|
|
60 |
|
|
|
62 |
|
| 2.250%, 08/15/2021 |
|
|
70 |
|
|
|
70 |
|
| Cigna |
|
|
|
|
|
|
|
|
| 4.375%, 10/15/2028 |
|
|
120 |
|
|
|
131 |
|
| 4.125%, 11/15/2025 |
|
|
50 |
|
|
|
54 |
|
| 3.400%, 09/17/2021 |
|
|
60 |
|
|
|
61 |
|
| CVS Health |
|
|
|
|
|
|
|
|
| 4.300%, 03/25/2028 |
|
|
80 |
|
|
|
86 |
|
| 3.875%, 07/20/2025 |
|
|
95 |
|
|
|
101 |
|
| 3.350%, 03/09/2021 |
|
|
32 |
|
|
|
33 |
|
|
|
|
| |
|
| 16 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| 2.800%, 07/20/2020 |
|
$ |
190 |
|
|
$ |
191 |
|
| CVS Pass-Through Trust |
|
|
|
|
|
|
|
|
| 7.507%, 01/10/2032 (A) |
|
|
1,169 |
|
|
|
1,443 |
|
| Eli Lilly |
|
|
|
|
|
|
|
|
| 2.350%, 05/15/2022 |
|
|
170 |
|
|
|
172 |
|
| Express Scripts Holding |
|
|
|
|
|
|
|
|
| 3.500%, 06/15/2024 |
|
|
160 |
|
|
|
167 |
|
| Gilead Sciences |
|
|
|
|
|
|
|
|
| 2.550%, 09/01/2020 |
|
|
20 |
|
|
|
20 |
|
| 2.500%, 09/01/2023 |
|
|
50 |
|
|
|
51 |
|
| Humana |
|
|
|
|
|
|
|
|
| 3.150%, 12/01/2022 |
|
|
240 |
|
|
|
246 |
|
| 2.900%, 12/15/2022 |
|
|
290 |
|
|
|
295 |
|
| SSM Health Care |
|
|
|
|
|
|
|
|
| 3.688%, 06/01/2023 |
|
|
644 |
|
|
|
676 |
|
| Teva Pharmaceutical Finance BV |
|
|
|
|
|
|
|
|
| 2.950%, 12/18/2022 |
|
|
30 |
|
|
|
26 |
|
| UnitedHealth Group |
|
|
|
|
|
|
|
|
| 3.875%, 12/15/2028 |
|
|
30 |
|
|
|
33 |
|
| 2.875%, 12/15/2021 |
|
|
50 |
|
|
|
51 |
|
| 2.700%, 07/15/2020 |
|
|
70 |
|
|
|
70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Industrials — 2.5% |
|
|
|
|
|
|
|
|
| 3M |
|
|
|
|
|
|
|
|
| 2.375%, 08/26/2029 |
|
|
30 |
|
|
|
30 |
|
| AerCap Ireland Capital DAC |
|
|
|
|
|
|
|
|
| 4.625%, 10/30/2020 |
|
|
730 |
|
|
|
748 |
|
| 4.500%, 05/15/2021 |
|
|
310 |
|
|
|
320 |
|
| American Airlines, Ser 2016-3, Cl A |
|
|
|
|
|
|
|
|
| 3.250%, 10/15/2028 |
|
|
1,119 |
|
|
|
1,140 |
|
| American Airlines Pass-Through Trust, Ser 2013-2, Cl A |
|
|
|
|
|
|
|
|
| 4.950%, 01/15/2023 |
|
|
286 |
|
|
|
299 |
|
| Aviation Capital Group |
|
|
|
|
|
|
|
|
| 4.125%, 08/01/2025 (A) |
|
|
160 |
|
|
|
167 |
|
| Burlington Northern and Santa Fe Railway Pass-Through Trust, Ser 2002-2 |
|
|
|
|
|
|
|
|
| 5.140%, 01/15/2021 |
|
|
44 |
|
|
|
44 |
|
| Burlington Northern Santa Fe |
|
|
|
|
|
|
|
|
| 4.550%, 09/01/2044 |
|
|
10 |
|
|
|
12 |
|
| Continental Airlines Pass-Through Trust, Ser 2012-2, Cl A |
|
|
|
|
|
|
|
|
| 4.000%, 10/29/2024 |
|
|
657 |
|
|
|
692 |
|
| Delta Air Lines Pass-Through Trust, Ser 2015-1, Cl AA |
|
|
|
|
|
|
|
|
| 3.625%, 07/30/2027 |
|
|
544 |
|
|
|
580 |
|
| Delta Air Lines Pass-Through Trust, Ser 2019-1, Cl AA |
|
|
|
|
|
|
|
|
| 3.204%, 04/25/2024 |
|
|
621 |
|
|
|
649 |
|
| Eaton |
|
|
|
|
|
|
|
|
| 2.750%, 11/02/2022 |
|
|
450 |
|
|
|
458 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| GE Capital International Funding Unlimited Co |
|
|
|
|
|
|
|
|
| 2.342%, 11/15/2020 |
|
$ |
1,205 |
|
|
$ |
1,202 |
|
| General Electric MTN |
|
|
|
|
|
|
|
|
| 6.875%, 01/10/2039 |
|
|
30 |
|
|
|
40 |
|
| 5.500%, 01/08/2020 |
|
|
10 |
|
|
|
10 |
|
| General Electric Capital MTN |
|
|
|
|
|
|
|
|
| 5.300%, 02/11/2021 |
|
|
160 |
|
|
|
165 |
|
| International Lease Finance |
|
|
|
|
|
|
|
|
| 5.875%, 08/15/2022 |
|
|
400 |
|
|
|
438 |
|
| Republic Services |
|
|
|
|
|
|
|
|
| 3.200%, 03/15/2025 |
|
|
180 |
|
|
|
187 |
|
| Union Pacific |
|
|
|
|
|
|
|
|
| 3.950%, 09/10/2028 |
|
|
20 |
|
|
|
22 |
|
| 3.750%, 07/15/2025 |
|
|
20 |
|
|
|
22 |
|
| United Airlines Pass-Through Trust, Ser 2014-1, Cl A |
|
|
|
|
|
|
|
|
| 4.000%, 04/11/2026 |
|
|
733 |
|
|
|
778 |
|
| Waste Management |
|
|
|
|
|
|
|
|
| 3.500%, 05/15/2024 |
|
|
120 |
|
|
|
127 |
|
| 3.450%, 06/15/2029 |
|
|
30 |
|
|
|
32 |
|
| 3.200%, 06/15/2026 |
|
|
30 |
|
|
|
32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Information Technology — 1.2% |
|
|
|
|
|
|
|
|
| Apple |
|
|
|
|
|
|
|
|
| 3.350%, 02/09/2027 |
|
|
210 |
|
|
|
224 |
|
| 2.900%, 09/12/2027 |
|
|
110 |
|
|
|
115 |
|
| 2.450%, 08/04/2026 |
|
|
70 |
|
|
|
71 |
|
| 2.000%, 11/13/2020 |
|
|
80 |
|
|
|
80 |
|
| 1.550%, 08/04/2021 |
|
|
60 |
|
|
|
60 |
|
| Broadcom |
|
|
|
|
|
|
|
|
| 3.625%, 10/15/2024 (A) |
|
|
485 |
|
|
|
493 |
|
| 3.125%, 01/15/2025 |
|
|
80 |
|
|
|
79 |
|
| Diamond 1 Finance |
|
|
|
|
|
|
|
|
| 4.420%, 06/15/2021 (A) |
|
|
430 |
|
|
|
443 |
|
| Intel |
|
|
|
|
|
|
|
|
| 3.700%, 07/29/2025 |
|
|
30 |
|
|
|
33 |
|
| Mastercard |
|
|
|
|
|
|
|
|
| 3.375%, 04/01/2024 |
|
|
190 |
|
|
|
202 |
|
| Microsoft |
|
|
|
|
|
|
|
|
| 3.300%, 02/06/2027 |
|
|
90 |
|
|
|
97 |
|
| 2.400%, 02/06/2022 |
|
|
150 |
|
|
|
152 |
|
| 1.850%, 02/06/2020 |
|
|
360 |
|
|
|
360 |
|
| 1.550%, 08/08/2021 |
|
|
110 |
|
|
|
109 |
|
| NXP BV |
|
|
|
|
|
|
|
|
| 4.625%, 06/01/2023 (A) |
|
|
479 |
|
|
|
510 |
|
| Oracle |
|
|
|
|
|
|
|
|
| 2.500%, 10/15/2022 |
|
|
130 |
|
|
|
132 |
|
| salesforce.com |
|
|
|
|
|
|
|
|
| 3.700%, 04/11/2028 |
|
|
150 |
|
|
|
165 |
|
| 3.250%, 04/11/2023 |
|
|
70 |
|
|
|
73 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
17 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Visa |
|
|
|
|
|
|
|
|
| 4.300%, 12/14/2045 |
|
$ |
10 |
|
|
$ |
13 |
|
| 3.150%, 12/14/2025 |
|
|
110 |
|
|
|
117 |
|
| 2.200%, 12/14/2020 |
|
|
300 |
|
|
|
301 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,829 |
|
|
|
|
|
|
|
|
|
|
|
| Materials — 0.5% |
|
| ArcelorMittal |
|
|
|
|
|
|
|
|
| 4.550%, 03/11/2026 |
|
|
100 |
|
|
|
105 |
|
| Equate Petrochemical BV MTN |
|
|
|
|
|
|
|
|
| 4.250%, 11/03/2026 (A) |
|
|
200 |
|
|
|
215 |
|
| Glencore Funding |
|
|
|
|
|
|
|
|
| 4.125%, 05/30/2023 (A) |
|
|
890 |
|
|
|
932 |
|
| 4.125%, 03/12/2024 (A) |
|
|
120 |
|
|
|
126 |
|
| 4.000%, 03/27/2027 (A) |
|
|
120 |
|
|
|
123 |
|
| Southern Copper |
|
|
|
|
|
|
|
|
| 3.500%, 11/08/2022 |
|
|
130 |
|
|
|
133 |
|
| Vale Overseas |
|
|
|
|
|
|
|
|
| 6.250%, 08/10/2026 |
|
|
140 |
|
|
|
161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Real Estate — 1.1% |
|
|
|
|
|
|
|
|
| American Tower Trust, Ser 2013-13, Cl 2A |
|
|
|
|
|
|
|
|
| 3.070%, 03/15/2048 (A) |
|
|
620 |
|
|
|
630 |
|
| Digital Realty Trust |
|
|
|
|
|
|
|
|
| 3.600%, 07/01/2029 |
|
|
815 |
|
|
|
848 |
|
| Ventas Realty |
|
|
|
|
|
|
|
|
| 4.125%, 01/15/2026 |
|
|
566 |
|
|
|
612 |
|
| 3.500%, 02/01/2025 |
|
|
488 |
|
|
|
511 |
|
| Welltower |
|
|
|
|
|
|
|
|
| 4.500%, 01/15/2024 |
|
|
902 |
|
|
|
975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Utilities — 2.0% |
|
|
|
|
|
|
|
|
| Aquarion |
|
|
|
|
|
|
|
|
| 4.000%, 08/15/2024 (A) |
|
|
227 |
|
|
|
241 |
|
| Commonwealth Edison |
|
|
|
|
|
|
|
|
| 3.700%, 08/15/2028 |
|
|
1,118 |
|
|
|
1,227 |
|
| Dominion Energy |
|
|
|
|
|
|
|
|
| 2.579%, 07/01/2020 |
|
|
260 |
|
|
|
261 |
|
| Duke Energy |
|
|
|
|
|
|
|
|
| 3.550%, 09/15/2021 |
|
|
170 |
|
|
|
174 |
|
| 2.400%, 08/15/2022 |
|
|
150 |
|
|
|
151 |
|
| FirstEnergy |
|
|
|
|
|
|
|
|
| 4.250%, 03/15/2023 |
|
|
380 |
|
|
|
402 |
|
| 2.850%, 07/15/2022 |
|
|
330 |
|
|
|
335 |
|
| NextEra Energy Capital Holdings |
|
|
|
|
|
|
|
|
| 2.403%, 09/01/2021 |
|
|
513 |
|
|
|
516 |
|
| Northern States Power |
|
|
|
|
|
|
|
|
| 7.125%, 07/01/2025 |
|
|
1,190 |
|
|
|
1,480 |
|
| Perusahaan Listrik Negara MTN |
|
|
|
|
|
|
|
|
| 5.450%, 05/21/2028 (A) |
|
|
370 |
|
|
|
426 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| CORPORATE OBLIGATIONS (continued) |
|
| Public Service Enterprise Group |
|
|
|
|
|
|
|
|
| 2.875%, 06/15/2024 |
|
$ |
713 |
|
|
$ |
732 |
|
| Sempra Energy |
|
|
|
|
|
|
|
|
| 2.400%, 03/15/2020 |
|
|
840 |
|
|
|
840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Corporate Obligations
(Cost $92,965) ($ Thousands) |
|
|
|
|
|
|
96,694 |
|
|
|
|
|
|
|
|
|
|
|
| U.S. TREASURY OBLIGATIONS — 11.0% |
|
| U.S. Treasury Bonds |
|
|
|
|
|
|
|
|
| 3.625%, 02/15/2044 |
|
|
130 |
|
|
|
168 |
|
| 3.125%, 05/15/2048 |
|
|
140 |
|
|
|
170 |
|
| 3.000%, 08/15/2048 |
|
|
50 |
|
|
|
60 |
|
| 3.000%, 02/15/2049 |
|
|
360 |
|
|
|
429 |
|
| 2.875%, 05/15/2049 |
|
|
590 |
|
|
|
688 |
|
| 2.750%, 08/15/2047 |
|
|
120 |
|
|
|
136 |
|
| U.S. Treasury Inflation-Protected Securities |
|
|
|
|
|
|
|
|
| 2.375%, 01/15/2025 |
|
|
177 |
|
|
|
197 |
|
| 1.750%, 01/15/2028 |
|
|
86 |
|
|
|
96 |
|
| 1.375%, 02/15/2044 |
|
|
539 |
|
|
|
642 |
|
| 1.000%, 02/15/2046 |
|
|
390 |
|
|
|
432 |
|
| 1.000%, 02/15/2049 |
|
|
1,489 |
|
|
|
1,638 |
|
| 0.750%, 02/15/2042 |
|
|
466 |
|
|
|
489 |
|
| U.S. Treasury Notes |
|
|
|
|
|
|
|
|
| 2.750%, 09/15/2021 |
|
|
5,731 |
|
|
|
5,854 |
|
| 2.750%, 02/15/2028 |
|
|
4 |
|
|
|
4 |
|
| 2.500%, 01/31/2021 |
|
|
580 |
|
|
|
585 |
|
| 2.375%, 02/29/2024 |
|
|
6,590 |
|
|
|
6,818 |
|
| 2.375%, 05/15/2029 |
|
|
300 |
|
|
|
319 |
|
| 2.250%, 03/31/2021 |
|
|
800 |
|
|
|
806 |
|
| 2.250%, 04/30/2024 |
|
|
30 |
|
|
|
31 |
|
| 2.250%, 02/15/2027 |
|
|
583 |
|
|
|
608 |
|
| 2.125%, 05/31/2021 |
|
|
1,560 |
|
|
|
1,571 |
|
| 2.000%, 02/15/2025 |
|
|
50 |
|
|
|
51 |
|
| 1.750%, 06/30/2024 |
|
|
5,989 |
|
|
|
6,040 |
|
| 1.625%, 09/30/2026 |
|
|
1,170 |
|
|
|
1,170 |
|
| 1.625%, 08/15/2029 |
|
|
590 |
|
|
|
587 |
|
| 1.375%, 08/31/2026 |
|
|
110 |
|
|
|
108 |
|
| United States Treasury Bill |
|
|
|
|
|
|
|
|
| 1.777%, 11/07/2019 (C) |
|
|
3,799 |
|
|
|
3,792 |
|
| 1.936%, 11/21/2019 (C) |
|
|
3,206 |
|
|
|
3,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total U.S. Treasury Obligations (Cost $35,949) ($ Thousands) |
|
|
|
|
|
|
36,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| 18 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| ASSET-BACKED SECURITIES — 8.6% |
|
|
| Automotive — 1.7% |
|
|
|
|
| Avis Budget Rental Car Funding AESOP, Ser 2017-2A, Cl A |
|
|
|
|
|
|
|
|
| 2.970%, 03/20/2024 (A) |
|
$ |
310 |
|
|
$ |
317 |
|
| Avis Budget Rental Car Funding AESOP, Ser 2019-2A, Cl A |
|
|
|
|
|
|
|
|
| 3.350%, 09/22/2025 (A) |
|
|
320 |
|
|
|
333 |
|
| Capital One Prime Auto Receivables Trust, Ser 2019-2, Cl A4 |
|
|
|
|
|
|
|
|
| 1.960%, 02/18/2025 |
|
|
1,662 |
|
|
|
1,663 |
|
| Hertz Vehicle Financing II, Ser 2018-1A, Cl A |
|
|
|
|
|
|
|
|
| 3.290%, 02/25/2024 (A) |
|
|
350 |
|
|
|
359 |
|
| Honda Auto Receivables Owner Trust, Ser 2019-2, Cl A3 |
|
|
|
|
|
|
|
|
| 2.520%, 06/21/2023 |
|
|
572 |
|
|
|
578 |
|
| NextGear Floorplan Master Owner Trust, Ser 2019-1A, Cl A2 |
|
|
|
|
|
|
|
|
| 3.210%, 02/15/2024 (A) |
|
|
1,182 |
|
|
|
1,207 |
|
| World Omni Auto Receivables Trust, Ser 2019-B, Cl A3 |
|
|
|
|
|
|
|
|
| 2.590%, 07/15/2024 |
|
|
1,299 |
|
|
|
1,317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,774 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Home — 0.5% |
|
|
|
|
|
|
|
|
|
|
|
| Argent Securities, Ser 2004-W5, Cl AV2 |
|
|
|
|
|
|
|
|
| 3.058%, VAR ICE LIBOR USD 1 Month+1.040%, 04/25/2034 |
|
|
321 |
|
|
|
325 |
|
| Citifinancial Mortgage Securities, Ser 2004-1, Cl AF4 |
|
|
|
|
|
|
|
|
| 5.070%, 04/25/2034 |
|
|
215 |
|
|
|
225 |
|
| GS Mortgage-Backed Securities Trust, Ser 2018-RPL1, Cl A1A |
|
|
|
|
|
|
|
|
| 3.750%, 10/25/2057 (A) |
|
|
364 |
|
|
|
379 |
|
| Lake Country Mortgage Loan Trust, Ser 2006-HE1, Cl M5 |
|
|
|
|
|
|
|
|
| 4.018%, VAR ICE LIBOR USD 1 Month+2.000%, 07/25/2034 (A) |
|
|
390 |
|
|
|
401 |
|
| Master Asset-Backed Securities Trust, Ser 2007-NCW, Cl A1 |
|
|
|
|
|
|
|
|
| 2.318%, VAR ICE LIBOR USD 1 Month+0.300%, 05/25/2037 (A) |
|
|
224 |
|
|
|
213 |
|
| New Century Home Equity Loan Trust, Ser 2003-A, Cl A |
|
|
|
|
|
|
|
|
| 2.738%, VAR ICE LIBOR USD 1 Month+0.720%, 10/25/2033 (A) |
|
|
89 |
|
|
|
87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Asset-Backed Securities — 6.4% |
|
|
|
|
|
|
|
|
|
|
|
| AEP Texas Restoration Funding, Ser 2019-1, Cl A2 |
|
|
|
|
|
|
|
|
| 2.294%, 08/01/2031 |
|
|
1,646 |
|
|
|
1,648 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| ASSET-BACKED SECURITIES (continued) |
|
| Ameriquest Mortgage Securities Asset- Backed Pass-Through Certificates, Ser 2005-R7, Cl M2 |
|
|
|
|
|
|
|
|
| 2.518%, VAR ICE LIBOR USD 1 Month+0.500%, 09/25/2035 |
|
$ |
359 |
|
|
$ |
360 |
|
| Applebee’s Funding, Ser 2019-1A, Cl A2I |
|
|
|
|
|
|
|
|
| 4.194%, 06/07/2049 (A) |
|
|
300 |
|
|
|
307 |
|
| Ascentium Equipment Receivables, Ser 2019-1A, Cl A2 |
|
|
|
|
|
|
|
|
| 2.840%, 06/10/2022 (A) |
|
|
645 |
|
|
|
650 |
|
| Atrium Hotel Portfolio Trust, Ser ATRM, Cl C |
|
|
|
|
|
|
|
|
| 3.678%, VAR ICE LIBOR USD 1 Month+1.650%, 12/15/2036 (A) |
|
|
410 |
|
|
|
410 |
|
| Citigroup Mortgage Loan Trust, Ser 2007- WFH3, Cl A3 |
|
|
|
|
|
|
|
|
| 2.268%, VAR ICE LIBOR USD 1 Month+0.250%, 06/25/2037 |
|
|
286 |
|
|
|
285 |
|
| Countrywide Asset-Backed Certificates, Ser 2007-13, Cl 2A2M |
|
|
|
|
|
|
|
|
| 3.268%, VAR ICE LIBOR USD 1 Month+1.250%, 10/25/2047 |
|
|
159 |
|
|
|
157 |
|
| Countrywide Home Equity Loan Trust, Ser 2006-F, Cl 2A1A |
|
|
|
|
|
|
|
|
| 2.168%, VAR ICE LIBOR USD 1 Month+0.140%, 07/15/2036 |
|
|
343 |
|
|
|
329 |
|
| DB Master Finance, Ser 2017-1A, Cl A2I |
|
|
|
|
|
|
|
|
| 3.629%, 11/20/2047 (A) |
|
|
431 |
|
|
|
441 |
|
| Domino’s Pizza Master Issuer, Ser 2017-1A, Cl A2I |
|
|
|
|
|
|
|
|
| 3.526%, VAR ICE LIBOR USD 3 Month+1.250%, 07/25/2047 (A) |
|
|
697 |
|
|
|
697 |
|
| Education Loan Asset-Backed Trust, Ser 2013-1, Cl A2 |
|
|
|
|
|
|
|
|
| 2.818%, VAR ICE LIBOR USD 1 Month+0.800%, 04/26/2032 (A) |
|
|
500 |
|
|
|
496 |
|
| Invitation Homes Trust, Ser 2018-SFR1, Cl A |
|
|
|
|
|
|
|
|
| 2.725%, VAR ICE LIBOR USD 1 Month+0.700%, 03/17/2037 (A) |
|
|
1,426 |
|
|
|
1,409 |
|
| MMAF Equipment Finance, Ser 2018-A, Cl A3 |
|
|
|
|
|
|
|
|
| 3.200%, 09/12/2022 (A) |
|
|
1,255 |
|
|
|
1,272 |
|
| Morgan Stanley ABS Capital I Trust, Ser 2004-NC7, Cl M1 |
|
|
|
|
|
|
|
|
| 2.873%, VAR ICE LIBOR USD 1 Month+0.855%, 07/25/2034 |
|
|
475 |
|
|
|
477 |
|
| Morgan Stanley Capital I Trust, Ser BPR, Cl A |
|
|
|
|
|
|
|
|
| 3.428%, VAR ICE LIBOR USD 1 Month+1.400%, 05/15/2036 (A) |
|
|
320 |
|
|
|
320 |
|
| Navient Student Loan Trust, Ser 2016-6A, Cl A3 |
|
|
|
|
|
|
|
|
| 3.318%, VAR ICE LIBOR USD 1 Month+1.300%, 03/25/2066 (A) |
|
|
900 |
|
|
|
915 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
19 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| ASSET-BACKED SECURITIES (continued) |
|
| Progress Residential Trust, Ser 2018-SFR3, Cl A |
|
|
|
|
|
|
|
|
| 3.880%, 10/17/2035 (A) |
|
$ |
640 |
|
|
$ |
656 |
|
| RAAC Series Trust, Ser 2005-SP3, Cl M2 |
|
|
|
|
|
|
|
|
| 2.818%, VAR ICE LIBOR USD 1 Month+0.800%, 12/25/2035 |
|
|
390 |
|
|
|
392 |
|
| SBA Small Business Investment, Ser 2019-10A, Cl 1 |
|
|
|
|
|
|
|
|
| 3.113%, 03/10/2029 |
|
|
198 |
|
|
|
208 |
|
| Shops at Crystals Trust, Ser CSTL, Cl A |
|
|
|
|
|
|
|
|
| 3.126%, 07/05/2036 (A) |
|
|
100 |
|
|
|
103 |
|
| SLC Student Loan Trust, Ser 2010-1, Cl A |
|
|
|
|
|
|
|
|
| 3.007%, VAR ICE LIBOR USD 3 Month+0.875%, 11/25/2042 |
|
|
293 |
|
|
|
295 |
|
| SLM Private Credit Student Loan Trust, Ser 2006-A, Cl A5 |
|
|
|
|
|
|
|
|
| 2.409%, VAR ICE LIBOR USD 3 Month+0.290%, 06/15/2039 |
|
|
301 |
|
|
|
295 |
|
| SLM Student Loan Trust, Ser 2003-7A, Cl A5A |
|
|
|
|
|
|
|
|
| 3.319%, VAR ICE LIBOR USD 3 Month+1.200%, 12/15/2033 (A) |
|
|
145 |
|
|
|
143 |
|
| Store Master Funding I-VII, Ser 2018-1A, Cl A1 |
|
|
|
|
|
|
|
|
| 3.960%, 10/20/2048 (A) |
|
|
384 |
|
|
|
406 |
|
| United States Small Business Administration, Ser 2010-20H, Cl 1 |
|
|
|
|
|
|
|
|
| 3.520%, 08/01/2030 |
|
|
303 |
|
|
|
316 |
|
| United States Small Business Administration, Ser 2011-20B, Cl 1 |
|
|
|
|
|
|
|
|
| 4.220%, 02/01/2031 |
|
|
322 |
|
|
|
345 |
|
| United States Small Business Administration, Ser 2011-20J, Cl 1 |
|
|
|
|
|
|
|
|
| 2.760%, 10/01/2031 |
|
|
200 |
|
|
|
203 |
|
| United States Small Business Administration, Ser 2013-20K, Cl 1 |
|
|
|
|
|
|
|
|
| 3.380%, 11/01/2033 |
|
|
827 |
|
|
|
869 |
|
| United States Small Business Administration, Ser 2014-20F, Cl 1 |
|
|
|
|
|
|
|
|
| 2.990%, 06/01/2034 |
|
|
919 |
|
|
|
950 |
|
| United States Small Business Administration, Ser 2015-20C, Cl 1 |
|
|
|
|
|
|
|
|
| 2.720%, 03/01/2035 |
|
|
902 |
|
|
|
925 |
|
| United States Small Business Administration, Ser 2015-20E, Cl 1 |
|
|
|
|
|
|
|
|
| 2.770%, 05/01/2035 |
|
|
542 |
|
|
|
558 |
|
| United States Small Business Administration, Ser 2015-20K, Cl 1 |
|
|
|
|
|
|
|
|
| 2.700%, 11/01/2035 |
|
|
557 |
|
|
|
571 |
|
| United States Small Business Administration, Ser 2017-20J, Cl 1 |
|
|
|
|
|
|
|
|
| 2.850%, 10/01/2037 |
|
|
707 |
|
|
|
730 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| ASSET-BACKED SECURITIES (continued) |
|
| United States Small Business Administration, Ser 2018-20E, Cl 1 |
|
|
|
|
|
|
|
|
| 3.500%, 05/01/2038 |
|
$ |
1,332 |
|
|
$ |
1,429 |
|
| United States Small Business Administration, Ser 2018-20J, Cl 1 |
|
|
|
|
|
|
|
|
| 3.770%, 10/01/2038 |
|
|
657 |
|
|
|
717 |
|
| United States Small Business Administration, Ser 2019-25G, Cl 1 |
|
|
|
|
|
|
|
|
| 2.690%, 07/01/2044 |
|
|
60 |
|
|
|
62 |
|
| Verizon Owner Trust, Ser 2019-B, Cl A1A |
|
|
|
|
|
|
|
|
| 2.330%, 12/20/2023 |
|
|
624 |
|
|
|
629 |
|
| Wendy’s Funding, Ser 2019-1A, Cl A2I |
|
|
|
|
|
|
|
|
| 3.783%, 06/15/2049 (A) |
|
|
339 |
|
|
|
347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
21,322 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Asset-Backed Securities
(Cost $28,212) ($ Thousands) |
|
|
|
28,726 |
|
|
|
|
|
|
|
|
|
|
|
| U.S. GOVERNMENT AGENCY OBLIGATIONS — 6.1% |
|
| FHLMC |
|
|
|
|
|
|
|
|
| 6.500%, 12/01/2035 |
|
|
772 |
|
|
|
883 |
|
| 6.000%, 03/01/2035 |
|
|
1,185 |
|
|
|
1,364 |
|
| 5.000%, 10/01/2048 |
|
|
76 |
|
|
|
82 |
|
| 4.000%, 04/01/2048 |
|
|
86 |
|
|
|
90 |
|
| 4.000%, 05/01/2048 |
|
|
680 |
|
|
|
710 |
|
| 3.500%, 09/01/2048 |
|
|
609 |
|
|
|
626 |
|
| 3.500%, 10/01/2048 |
|
|
846 |
|
|
|
871 |
|
| 3.500%, 01/01/2049 |
|
|
88 |
|
|
|
91 |
|
| 3.500%, 04/01/2049 |
|
|
999 |
|
|
|
1,027 |
|
| 3.000%, 02/01/2038 |
|
|
87 |
|
|
|
89 |
|
| 3.000%, 04/01/2038 |
|
|
88 |
|
|
|
90 |
|
| 3.000%, 11/01/2043 |
|
|
669 |
|
|
|
689 |
|
| 3.000%, 01/01/2048 |
|
|
99 |
|
|
|
101 |
|
| 3.000%, 03/01/2049 |
|
|
96 |
|
|
|
98 |
|
| 3.000%, 04/01/2049 |
|
|
1,870 |
|
|
|
1,899 |
|
| 2.375%, 01/13/2022 |
|
|
1,090 |
|
|
|
1,107 |
|
| 1.250%, 10/02/2019 |
|
|
70 |
|
|
|
70 |
|
| FHLMC, Ser 2018-4813, Cl CJ |
|
|
|
|
|
|
|
|
| 3.000%, 08/15/2048 |
|
|
270 |
|
|
|
270 |
|
|
|
|
| |
|
| 20 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
| U.S. GOVERNMENT AGENCY OBLIGATIONS (continued) |
|
| FNMA |
|
|
|
|
|
|
|
|
| 4.500%, 09/01/2057 |
|
$ |
249 |
|
|
$ |
270 |
|
| 4.000%, 02/01/2056 |
|
|
73 |
|
|
|
78 |
|
| 4.000%, 06/01/2057 |
|
|
80 |
|
|
|
85 |
|
| 3.830%, 01/01/2029 |
|
|
490 |
|
|
|
552 |
|
| 3.500%, 10/01/2047 |
|
|
1,287 |
|
|
|
1,329 |
|
| 3.500%, 06/01/2048 |
|
|
703 |
|
|
|
725 |
|
| 3.500%, 07/01/2048 |
|
|
453 |
|
|
|
470 |
|
| 3.500%, 02/01/2049 |
|
|
94 |
|
|
|
98 |
|
| 3.000%, 12/01/2037 |
|
|
84 |
|
|
|
87 |
|
| 3.000%, 03/01/2046 |
|
|
1,298 |
|
|
|
1,337 |
|
| 3.000%, 05/01/2046 |
|
|
85 |
|
|
|
87 |
|
| 3.000%, 07/01/2046 |
|
|
150 |
|
|
|
153 |
|
| 3.000%, 10/01/2046 |
|
|
227 |
|
|
|
234 |
|
| 3.000%, 11/01/2046 |
|
|
1,889 |
|
|
|
1,935 |
|
| 3.000%, 09/01/2047 |
|
|
353 |
|
|
|
362 |
|
| 2.490%, 10/09/2019 (C) |
|
|
1,190 |
|
|
|
1,189 |
|
| FNMA, Ser M1, Cl A2 |
|
|
|
|
|
|
|
|
| 3.673%, 09/25/2028 (B) |
|
|
270 |
|
|
|
298 |
|
| Tennessee Valley Authority |
|
|
|
|
|
|
|
|
| 3.875%, 02/15/2021 |
|
|
790 |
|
|
|
812 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total U.S. Government Agency Obligations
(Cost $19,580) ($ Thousands) |
|
|
|
20,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| SOVEREIGN DEBT — 3.1% |
|
|
|
|
|
|
|
|
|
|
|
| Abu Dhabi Government International Bond |
|
|
|
|
|
|
|
|
| 2.500%, 10/11/2022 (A) |
|
|
490 |
|
|
|
495 |
|
| Colombia Government International Bond |
|
|
|
|
|
|
|
|
| 5.625%, 02/26/2044 |
|
|
280 |
|
|
|
350 |
|
| 5.200%, 05/15/2049 |
|
|
310 |
|
|
|
375 |
|
| 4.500%, 03/15/2029 |
|
|
200 |
|
|
|
222 |
|
| Indonesia Government International Bond MTN |
|
|
|
|
|
|
|
|
| 5.125%, 01/15/2045 (A) |
|
|
200 |
|
|
|
238 |
|
| 3.850%, 07/18/2027 (A) |
|
|
200 |
|
|
|
211 |
|
| 3.750%, 04/25/2022 |
|
|
370 |
|
|
|
382 |
|
| Kuwait International Government Bond |
|
|
|
|
|
|
|
|
| 3.500%, 03/20/2027 (A) |
|
|
210 |
|
|
|
226 |
|
| Mexico Government International Bond |
|
|
|
|
|
|
|
|
| 4.000%, 10/02/2023 |
|
|
610 |
|
|
|
642 |
|
| 3.600%, 01/30/2025 |
|
|
380 |
|
|
|
395 |
|
| Panama Government International Bond |
|
|
|
|
|
|
|
|
| 6.700%, 01/26/2036 |
|
|
190 |
|
|
|
270 |
|
| Peruvian Government International Bond |
|
|
|
|
|
|
|
|
| 6.550%, 03/14/2037 |
|
|
250 |
|
|
|
365 |
|
| 5.625%, 11/18/2050 |
|
|
310 |
|
|
|
454 |
|
| Poland Government International Bond |
|
|
|
|
|
|
|
|
| 5.125%, 04/21/2021 |
|
|
440 |
|
|
|
462 |
|
| 4.000%, 01/22/2024 |
|
|
450 |
|
|
|
487 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
|
| SOVEREIGN DEBT (continued) |
|
|
|
|
|
| Province of Ontario Canada |
|
|
|
|
|
|
|
|
| 4.400%, 04/14/2020 |
|
$ |
840 |
|
|
$ |
850 |
|
| Province of Quebec Canada |
|
|
|
|
|
|
|
|
| 2.625%, 02/13/2023 |
|
|
500 |
|
|
|
515 |
|
| Province of Quebec Canada, Ser A MTN |
|
|
|
|
|
|
|
|
| 6.350%, 01/30/2026 |
|
|
1,010 |
|
|
|
1,230 |
|
| Qatar Government International Bond |
|
|
|
|
|
|
|
|
| 3.250%, 06/02/2026 |
|
|
370 |
|
|
|
389 |
|
| Russian Foreign Bond - Eurobond |
|
|
|
|
|
|
|
|
| 7.500%, 03/31/2030 |
|
|
167 |
|
|
|
190 |
|
| 5.875%, 09/16/2043 |
|
|
400 |
|
|
|
508 |
|
| 5.625%, 04/04/2042 |
|
|
400 |
|
|
|
493 |
|
| Uruguay Government International Bond |
|
|
|
|
|
|
|
|
| 4.375%, 01/23/2031 |
|
|
390 |
|
|
|
430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Sovereign Debt (Cost $9,431) ($ Thousands) |
|
|
|
|
|
|
10,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| FOREIGN BONDS — 2.0% |
|
|
|
|
|
|
|
|
| Allergan Funding SCS |
|
|
|
|
|
|
|
|
| 3.800%, 03/15/2025 |
|
|
40 |
|
|
|
42 |
|
| 3.450%, 03/15/2022 |
|
|
120 |
|
|
|
123 |
|
| Banco Santander |
|
|
|
|
|
|
|
|
| 3.125%, 02/23/2023 |
|
|
200 |
|
|
|
204 |
|
| Banco Santander Chile |
|
|
|
|
|
|
|
|
| 2.500%, 12/15/2020 (A) |
|
|
240 |
|
|
|
240 |
|
| Barclays Bank |
|
|
|
|
|
|
|
|
| 10.179%, 06/12/2021 (A) |
|
|
370 |
|
|
|
414 |
|
| BHP Billiton Finance USA |
|
|
|
|
|
|
|
|
| 2.875%, 02/24/2022 |
|
|
10 |
|
|
|
10 |
|
| BP Capital Markets PLC |
|
|
|
|
|
|
|
|
| 3.561%, 11/01/2021 |
|
|
230 |
|
|
|
237 |
|
| CNOOC Finance |
|
|
|
|
|
|
|
|
| 3.500%, 05/05/2025 |
|
|
330 |
|
|
|
344 |
|
| Cooperatieve Rabobank UA |
|
|
|
|
|
|
|
|
| 4.375%, 08/04/2025 |
|
|
500 |
|
|
|
540 |
|
| Ecopetrol |
|
|
|
|
|
|
|
|
| 5.375%, 06/26/2026 |
|
|
140 |
|
|
|
157 |
|
| HSBC Holdings PLC |
|
|
|
|
|
|
|
|
| 4.250%, 08/18/2025 |
|
|
230 |
|
|
|
243 |
|
| Intesa Sanpaolo |
|
|
|
|
|
|
|
|
| 5.017%, 06/26/2024 (A) |
|
|
200 |
|
|
|
206 |
|
| 3.125%, 07/14/2022 (A) |
|
|
200 |
|
|
|
201 |
|
| Landwirtschaftliche Rentenbank |
|
|
|
|
|
|
|
|
| 1.375%, 10/23/2019 |
|
|
110 |
|
|
|
110 |
|
| OCP |
|
|
|
|
|
|
|
|
| 4.500%, 10/22/2025 (A) |
|
|
400 |
|
|
|
420 |
|
| Petrobras Global Finance BV |
|
|
|
|
|
|
|
|
| 6.850%, 06/05/2115 |
|
|
150 |
|
|
|
171 |
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
21 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
|
|
| FOREIGN BONDS (continued) |
|
|
|
|
|
|
|
|
| Petroleos del Peru |
|
|
|
|
|
|
|
|
| 4.750%, 06/19/2032 (A) |
|
$ |
400 |
|
|
$ |
439 |
|
| Petroleos Mexicanos |
|
|
|
|
|
|
|
|
| 4.875%, 01/18/2024 |
|
|
190 |
|
|
|
195 |
|
| Shell International Finance |
|
|
|
|
|
|
|
|
| 4.375%, 03/25/2020 |
|
|
130 |
|
|
|
131 |
|
| Shell International Finance BV |
|
|
|
|
|
|
|
|
| 3.250%, 05/11/2025 |
|
|
150 |
|
|
|
159 |
|
| 2.875%, 05/10/2026 |
|
|
40 |
|
|
|
42 |
|
| 2.250%, 11/10/2020 |
|
|
360 |
|
|
|
362 |
|
| 1.750%, 09/12/2021 |
|
|
690 |
|
|
|
689 |
|
| Telefonica Emisiones SAU |
|
|
|
|
|
|
|
|
| 5.134%, 04/27/2020 |
|
|
80 |
|
|
|
81 |
|
| Teva Pharmaceutical Finance Netherlands III BV |
|
|
|
|
|
|
|
|
| 2.200%, 07/21/2021 |
|
|
730 |
|
|
|
668 |
|
| Vale Overseas |
|
|
|
|
|
|
|
|
| 6.875%, 11/21/2036 |
|
|
48 |
|
|
|
61 |
|
| 4.375%, 01/11/2022 |
|
|
8 |
|
|
|
8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Foreign Bonds
(Cost $6,266) ($ Thousands) |
|
|
|
|
|
|
6,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| MUNICIPAL BONDS — 0.9% |
|
|
|
|
|
|
|
|
| Florida — 0.1% |
|
|
|
|
|
|
|
|
| Florida State, Board of Administration Finance, Ser A, RB |
|
|
|
|
|
|
|
|
| 2.638%, 07/01/2021 |
|
|
420 |
|
|
|
425 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Michigan — 0.3% |
|
|
|
|
|
|
|
|
| Michigan State, Finance Authority, RB
Callable 03/01/2024 @ 100 |
|
|
|
|
|
|
|
|
| 2.988%, 09/01/2049 (D) |
|
|
755 |
|
|
|
783 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Face Amount
(Thousands) |
|
Market Value
($ Thousands) |
|
|
|
| MUNICIPAL BONDS (continued) |
|
|
|
|
|
|
|
|
|
|
|
| New York — 0.2% |
|
|
|
|
|
|
|
|
| New York State, Urban Development, RB |
|
|
|
|
|
|
|
|
| 3.350%, 03/15/2026 |
|
$ |
665 |
|
|
$ |
705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Wisconsin — 0.3% |
|
|
|
|
|
|
|
|
| Wisconsin State, Ser A, RB, AGM |
|
|
|
|
|
|
|
|
| 5.700%, 05/01/2026 |
|
|
890 |
|
|
|
1,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds
(Cost $2,841) ($ Thousands) |
|
|
|
|
|
|
2,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
|
|
|
| CASH EQUIVALENT — 3.3% |
|
|
|
|
|
|
|
|
| SEI Daily Income Trust, Government Fund, Cl F |
|
|
|
|
|
|
|
|
|
1.800%**† |
|
|
10,798,008 |
|
|
|
10,798 |
|
|
|
|
|
|
|
|
|
|
| Total Cash Equivalent
(Cost $10,798) ($ Thousands) |
|
|
|
|
|
|
10,798 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities — 105.8% |
|
|
|
|
|
|
|
|
| (Cost $342,810) ($ Thousands) |
|
|
|
|
|
$ |
351,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Contracts |
|
|
|
|
|
| PURCHASED OPTIONS* — 0.0% |
|
|
|
|
|
|
|
|
|
|
|
| Total Purchased Options(E)
(Cost $42) ($ Thousands) |
|
|
87 |
|
|
$ |
124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| WRITTEN OPTIONS* — 0.0% |
|
|
|
|
|
|
|
|
|
|
|
| Total Written Options(E)
(Premiums Received $51) ($ Thousands) |
|
|
(114 |
) |
|
$ |
(94 |
) |
|
|
|
|
|
|
|
|
|
A list of open option contracts held by the Fund at September 30, 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| Description |
|
Number of Contracts |
|
Notional Amount
(Thousands) |
|
Exercise Price |
|
|
Expiration Date |
|
|
Value
(Thousands) |
|
|
|
|
|
|
| PURCHASED OPTIONS — 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Call Options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 2019, Eurodollar Mid-Curve Option* |
|
|
66 |
|
|
$ |
16,256 |
|
|
|
$98.00 |
|
|
|
12/21/19 |
|
|
$ |
88 |
|
| November 2019, U.S. 10 Year Future Option* |
|
|
15 |
|
|
|
1,955 |
|
|
|
129.50 |
|
|
|
10/19/19 |
|
|
|
18 |
|
| November 2019, U.S. Bond Future Option* |
|
|
6 |
|
|
|
974 |
|
|
|
160.00 |
|
|
|
10/19/19 |
|
|
|
18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Purchased Options |
|
|
|
|
|
$ |
19,185 |
|
|
|
|
|
|
|
|
|
|
$ |
124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| WRITTEN OPTIONS — 0.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Put Options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| November 2019, U.S. 10 Year Future Option* |
|
|
(9 |
) |
|
$ |
(1,173 |
) |
|
|
129.00 |
|
|
|
10/19/19 |
|
|
$ |
(2 |
) |
| November 2019, U.S. 10 Year Future Option* |
|
|
(8 |
) |
|
|
(1,042 |
) |
|
|
130.00 |
|
|
|
10/19/19 |
|
|
|
(4 |
) |
|
|
|
| |
|
| 22 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
| Description |
|
Number of Contracts |
|
Notional Amount
(Thousands) |
|
Exercise Price |
|
|
Expiration Date |
|
|
Value
(Thousands) |
|
|
|
|
|
|
| WRITTEN OPTIONS (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| November 2019, U.S. 5 Year Future Option* |
|
|
(18 |
) |
|
$ |
(2,145 |
) |
|
|
$118.50 |
|
|
|
10/19/19 |
|
|
$ |
(3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,360 |
) |
|
|
|
|
|
|
|
|
|
|
(9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Call Options |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 2019, Eurodollar Mid-Curve Option* |
|
|
(33 |
) |
|
|
(8,129 |
) |
|
|
97.75 |
|
|
|
12/21/19 |
|
|
|
(64 |
) |
| December 2019, Eurodollar Mid-Curve Option* |
|
|
(33 |
) |
|
|
(8,128 |
) |
|
|
98.50 |
|
|
|
12/21/19 |
|
|
|
(14 |
) |
| November 2019, U.S. 10 Year Future Option* |
|
|
(9 |
) |
|
|
(1,173 |
) |
|
|
130.50 |
|
|
|
10/19/19 |
|
|
|
(5 |
) |
| November 2019, U.S. Bond Future Option* |
|
|
(4 |
) |
|
|
(649 |
) |
|
|
166.00 |
|
|
|
10/19/19 |
|
|
|
(2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(18,079 |
) |
|
|
|
|
|
|
|
|
|
|
(85 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Written Options |
|
|
|
|
|
$ |
(22,439 |
) |
|
|
|
|
|
|
|
|
|
$ |
(94 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A list of the open futures contracts held by the Fund at September 30, 2019 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Type of
Contract |
|
Number of
Contracts
Long/(Short) |
|
Expiration
Date |
|
|
Notional Amount
(Thousands) |
|
Value
(Thousands) |
|
Unrealized
Appreciation
(Depreciation)
(Thousands) |
|
|
|
|
|
|
| 90-Day Euro$ |
|
|
118 |
|
|
|
Jun-2020 |
|
|
$ |
28,695 |
|
|
$ |
29,041 |
|
|
$ |
346 |
|
|
|
|
|
|
|
| Add 90 DAY EURO$ DEC 19 to SEI_Futures Rule |
|
|
(60 |
) |
|
|
Dec-2019 |
|
|
|
(14,701 |
) |
|
|
(14,706 |
) |
|
|
(5 |
) |
|
|
|
|
|
|
| U.S. 10-Year Treasury Note |
|
|
(79 |
) |
|
|
Dec-2019 |
|
|
|
(10,346 |
) |
|
|
(10,295 |
) |
|
|
51 |
|
|
|
|
|
|
|
| U.S. 2-Year Treasury Note |
|
|
10 |
|
|
|
Jan-2020 |
|
|
|
2,159 |
|
|
|
2,155 |
|
|
|
(4 |
) |
|
|
|
|
|
|
| U.S. 5-Year Treasury Note |
|
|
169 |
|
|
|
Jan-2020 |
|
|
|
20,257 |
|
|
|
20,136 |
|
|
|
(121 |
) |
|
|
|
|
|
|
| U.S. Long Treasury Bond |
|
|
(132 |
) |
|
|
Dec-2019 |
|
|
|
(21,714 |
) |
|
|
(21,425 |
) |
|
|
289 |
|
|
|
|
|
|
|
| U.S. Ultra Long Treasury Bond |
|
|
52 |
|
|
|
Dec-2019 |
|
|
|
10,173 |
|
|
|
9,979 |
|
|
|
(194 |
) |
|
|
|
|
|
|
| Ultra 10-Year U.S. Treasury Note |
|
|
24 |
|
|
|
Dec-2019 |
|
|
|
3,454 |
|
|
|
3,418 |
|
|
|
(36 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
17,977 |
|
|
$ |
18,303 |
|
|
$ |
326 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Percentages are based on Net Assets of $332,162 ($ Thousands). |
| * |
Non-income producing security. |
| ** |
Rate shown is the 7-day effective yield as of September 30, 2019. |
| † |
Investment in Affiliated Security (see Note 3). |
| (A) |
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in
transactions exempt from registration normally to qualified institutions. On September 30, 2019, the value of these securities amounted to $53,547 ($ Thousands), representing 16.1% of the Net Assets of the Fund. |
| (B) |
Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest
rates and prepayments on the underlying pool of assets. |
| (C) |
Zero coupon security. The rate shown on the Schedule of Investments is the security’s effective yield at the time of
purchase. |
| (D) |
Variable or floating rate security, the interest rate of which adjusts periodically based on prevailing interest rates.
|
| (E) |
Refer to table below for details on Options Contracts. |
ABS — Asset-Backed Security
AGM— Assured Guaranty Municipal
Cl — Class
CMO — Collateralized Mortgage Obligation
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National
Mortgage Association
GNMA — Government National Mortgage Association
ICE— Intercontinental Exchange
IO — Interest Only — face amount
represents notional amount.
JSC — Joint-Stock Company
LIBOR
— London Interbank Offered Rate
MTN — Medium Term Note
PLC —
Public Limited Company
RB — Revenue Bond
Ser — Series
TBA — To Be Announced
USD — United States Dollar
VAR — Variable Rate
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
23 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Income Fund (Continued)
The following is a list of the level of inputs used as of September 30, 2019, in valuing the Fund’s investments
and other financial instruments carried at value ($ Thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
| Investments in Securities |
|
Level 1
($) |
|
Level 2
($) |
|
Level 3
($) |
|
Total
($) |
| Mortgage-Backed Securities |
|
|
– |
|
|
|
138,583 |
|
|
|
– |
|
|
|
138,583 |
|
| Corporate Obligations |
|
|
– |
|
|
|
96,694 |
|
|
|
– |
|
|
|
96,694 |
|
| U.S. Treasury Obligations |
|
|
– |
|
|
|
36,687 |
|
|
|
– |
|
|
|
36,687 |
|
| Asset-Backed Securities |
|
|
– |
|
|
|
28,726 |
|
|
|
– |
|
|
|
28,726 |
|
| U.S. Government Agency Obligations |
|
|
– |
|
|
|
20,258 |
|
|
|
– |
|
|
|
20,258 |
|
| Sovereign Debt |
|
|
– |
|
|
|
10,179 |
|
|
|
– |
|
|
|
10,179 |
|
| Foreign Bonds |
|
|
– |
|
|
|
6,497 |
|
|
|
– |
|
|
|
6,497 |
|
| Municipal Bonds |
|
|
– |
|
|
|
2,926 |
|
|
|
– |
|
|
|
2,926 |
|
| Cash Equivalent |
|
|
10,798 |
|
|
|
– |
|
|
|
– |
|
|
|
10,798 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities |
|
|
10,798 |
|
|
|
340,550 |
|
|
|
– |
|
|
|
351,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
| Other Financial Instruments |
|
Level 1
($) |
|
Level 2
($) |
|
Level 3
($) |
|
Total
($) |
| Purchased Options |
|
|
124 |
|
|
|
– |
|
|
|
– |
|
|
|
124 |
|
| Written Options |
|
|
(94 |
) |
|
|
– |
|
|
|
– |
|
|
|
(94 |
) |
| Futures Contracts * |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unrealized Appreciation |
|
|
686 |
|
|
|
– |
|
|
|
– |
|
|
|
686 |
|
| Unrealized Depreciation |
|
|
(360 |
) |
|
|
– |
|
|
|
– |
|
|
|
(360 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Other Financial Instruments |
|
|
356 |
|
|
|
– |
|
|
|
– |
|
|
|
356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Futures contracts are value at the unrealized appreciation (depreciation) on the instrument.
For the period ended September 30, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the period ended September 30, 2019, there were no transfers between Level 2 and Level 3 assets and liabilities.
Amounts designated as “—” are $0 or have been rounded to $0.
For
information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the transactions with affiliates for the period ended September 30, 2019 ($ Thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security Description |
|
Value 6/30/19 |
|
Purchases at
Cost |
|
Proceeds from
Sales |
|
Realized Gain/
(Loss) |
|
Change in
Unrealized
Appreciation/
(Depreciation) |
|
Value 9/30/19 |
|
Shares |
|
Dividend
Income |
|
Capital Gains |
| SEI Daily Income Trust, Government Fund, Cl F |
|
$11,031 |
|
$ 46,060 |
|
$(46,293) |
|
$ — |
|
$ — |
|
$10,798 |
|
10,798,008 |
|
$ 34 |
|
$— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| 24 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Balanced Growth Fund
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
| AFFILIATED INVESTMENT FUNDS — 99.3% |
|
|
|
|
|
|
|
|
| Equity Fund — 60.1% |
|
|
|
|
|
|
|
|
| New Covenant Growth Fund
† |
|
|
4,066,394 |
|
|
$ |
175,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Equity Fund
(Cost $106,876) ($ Thousands) |
|
|
|
|
|
|
175,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fixed Income Fund — 39.2% |
|
|
|
|
|
|
|
|
| New Covenant Income Fund
† |
|
|
4,841,240 |
|
|
|
114,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Fixed Income Fund
(Cost $110,871) ($ Thousands) |
|
|
|
|
|
|
114,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CASH EQUIVALENT — 0.6% |
|
|
|
|
|
|
|
|
| SEI Daily Income Trust, Government Fund, Cl F |
|
|
|
|
|
|
|
|
|
1.800%**† |
|
|
1,912,594 |
|
|
|
1,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Cash Equivalent
(Cost $1,913) ($ Thousands) |
|
|
|
|
|
|
1,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities — 99.9%
(Cost $219,660) ($ Thousands) |
|
|
|
|
|
$ |
292,506 |
|
|
|
|
|
|
|
|
|
|
| |
Percentages are based on Net Assets of $292,674 ($ Thousands). |
| † |
Investment in Affiliated Security). |
| ** |
Rate shown is the 7-day effective yield as of September 30, 2019. |
Cl — Class
As of September 30, 2019, all of the Fund’s investments
were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.
For the period ended
September 30, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the period ended September 30, 2019, there were no
transfers between Level 2 and Level 3 assets and liabilities.
For information regarding the Fund’s policy regarding valuation of investments and other
significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the transactions with
affiliates for the period ended September 30, 2019 ($ Thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security Description |
|
Value 6/30/19 |
|
Purchases at
Cost |
|
Proceeds from
Sales |
|
Realized Gain |
|
Change in
Unrealized
Appreciation |
|
Value 9/30/19 |
|
Shares |
|
Dividend
Income |
|
Capital Gains |
| New Covenant Growth Fund |
|
$178,591 |
|
$3,359 |
|
$(7,885) |
|
$518 |
|
$1,370 |
|
$175,953 |
|
4,066,394 |
|
$471 |
|
$— |
| New Covenant Income Fund |
|
112,871 |
|
4,792 |
|
(3,915) |
|
61 |
|
831 |
|
114,640 |
|
4,841,240 |
|
690 |
|
— |
| SEI Daily Income Trust, Government Fund, Cl F |
|
2,176 |
|
5,235 |
|
(5,498) |
|
— |
|
— |
|
1,913 |
|
1,912,594 |
|
13 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Totals |
|
$293,638 |
|
$13,386 |
|
$(17,298) |
|
$579 |
|
$2,201 |
|
$292,506 |
|
10,820,228 |
|
$1,174 |
|
$ - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| New Covenant Funds / Quarterly Report / September 30, 2019 |
|
25 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2019
New Covenant Balanced Income Fund (Continued)
|
|
|
|
|
|
|
|
|
| |
|
|
| Description |
|
Shares |
|
Market Value
($ Thousands) |
|
|
| AFFILIATED INVESTMENT FUNDS — 99.3% |
|
|
|
|
|
|
|
|
| Fixed Income Fund — 64.5% |
|
|
|
|
|
|
|
|
| New Covenant Income Fund
† |
|
|
2,072,861 |
|
|
$ |
49,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Fixed Income Fund
(Cost $47,716) ($ Thousands) |
|
|
|
|
|
|
49,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Equity Fund — 34.8% |
|
|
|
|
|
|
|
|
| New Covenant Growth Fund
† |
|
|
611,139 |
|
|
|
26,444 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Equity Fund
(Cost $13,544) ($ Thousands) |
|
|
|
|
|
|
26,444 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| CASH EQUIVALENT — 0.6% |
|
|
|
|
|
|
|
|
| SEI Daily Income Trust, Government Fund, Cl F |
|
|
|
|
|
|
|
|
|
|
|
|
1.800%**† |
|
|
490,094 |
|
|
|
490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Cash Equivalent
(Cost $490) ($ Thousands) |
|
|
|
|
|
|
490 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments in Securities — 99.9%
(Cost $61,750) ($ Thousands) |
|
|
$ |
76,019 |
|
|
|
|
|
|
|
|
|
|
Percentages are based on Net Assets of $76,109 ($ Thousands).
| † |
Investment in Affiliated Security. |
| ** |
Rate shown is the 7-day effective yield as of September 30, 2019. |
Cl — Class
As of September 30, 2019, all of the Fund’s investments
were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.
For the period ended
September 30, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities.
For the period ended September 30, 2019, there were no
transfers between Level 2 and Level 3 assets and liabilities.
For information regarding the Fund’s policy regarding valuation of investments and other
significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
The following is a summary of the transactions with
affiliates for the period ended September 30, 2019 ($ Thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security Description |
|
Value 6/30/19 |
|
Purchases at
Cost |
|
Proceeds from
Sales |
|
Realized Gain/
Loss |
|
Change in
Unrealized
Appreciation |
|
Value 9/30/19 |
|
Shares |
|
Dividend
Income |
|
Capital Gains |
| New Covenant Growth Fund |
|
$27,539 |
|
$896 |
|
$(2,301) |
|
$214 |
|
$96 |
|
$26,444 |
|
611,139 |
|
$74 |
|
$— |
| New Covenant Income Fund |
|
50,043 |
|
706 |
|
(2,050) |
|
(36) |
|
422 |
|
49,085 |
|
2,072,861 |
|
298 |
|
— |
| SEI Daily Income Trust, Government Fund, Cl F |
|
1,207 |
|
2,446 |
|
(3,163) |
|
— |
|
— |
|
490 |
|
490,094 |
|
4 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Totals |
|
$78,789 |
|
$4,048 |
|
$(7,514) |
|
$178 |
|
$518 |
|
$76,019 |
|
3,174,094 |
|
$376 |
|
$ - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
| 26 |
|
New Covenant Funds / Quarterly Report / September 30, 2019 |