NWCSX Holdings List

As of Apr 30, 2025

No.	Symbol	Name	% Weight	Shares
1	n/a	5 Year Treasury Note Future June 25	10.53%	22
2	T.3 11.15.44	United States Treasury Bonds 3%	5.57%	1,614,000
3	n/a	2 Year Treasury Note Future June 25	5.46%	6
4	T.4 02.28.30	United States Treasury Notes 4%	4.85%	1,090,000
5	n/a	CURRENCY CONTRACT - CAD Purchased	4.65%	1,411,000
6	n/a	U.S. DOLLAR FOR FUTURES	3.78%	867,163
7	FR.RJ1975	Federal Home Loan Mortgage Corp. 6%	2.61%	583,569
8	FN.FS5928	Fnma Pass-Thru I 2.5%	2.47%	674,386
9	n/a	Buy Protection on CDX.NA.HY.44-V1.Jun.2030	2.44%	582,000
10	FR.SD1716	Federal Home Loan Mortgage Corp. 5%	2.32%	532,703
11	FR.SD3771	Federal Home Loan Mortgage Corp. 2.5%	2.15%	588,577
12	n/a	Buy Protection on CDX.NA.IG.44-V1.Jun.2030	2.15%	500,000
13	n/a	10 Year Treasury Note Future June 25	1.98%	4
14	T.4.625 02.15.35	United States Treasury Notes 4.625%	1.78%	390,000
15	n/a	CURRENCY CONTRACT - USD Purchased	1.77%	315,000
16	FN.FS8585	Fnma Pass-Thru I 5.5%	1.74%	392,995
17	UKT.1.5 07.31.53	United Kingdom of Great Britain and Northern Ireland 1.5%	1.62%	600,000
18	FR.SD1853	Federal Home Loan Mortgage Corp. 5.5%	1.53%	343,734
19	BVABS.2024-SN1 C	BAYVIEW OPPURTUNITY MASTER FUND VII TRUST 2024-SN1 5.83%	1.49%	336,000
20	DNKN.2021-1A A2II	DB Master Finance LLC 2.493%	1.40%	344,430
21	FN.BV7937	Federal National Mortgage Association 4%	1.38%	337,606
22	T.4.625 02.15.55	United States Treasury Bonds 4.625%	1.34%	308,000
23	n/a	Buy Protection on ITRAXX.EUROPE.CROSSOVER.42-V2.Dec.2029	1.24%	270,000
24	FN.FS2257	Fnma Pass-Thru I 4.5%	1.24%	293,788
25	FR.QC0345	Federal Home Loan Mortgage Corp. 2%	1.22%	346,430
26	FN.AZ7353	Federal National Mortgage Association 3.5%	1.21%	298,688
27	FR.SD7097	Federal Home Loan Mortgage Corp. 5%	1.21%	278,364
28	FG.G08726	Federal Home Loan Mortgage Corp. 3%	1.17%	299,536
29	FG.G08721	Federal Home Loan Mortgage Corp. 3%	1.16%	296,886
30	FN.FS1376	Fnma Pass-Thru I 3%	1.14%	296,533
31	FR.SD0040	Federal Home Loan Mortgage Corp. 3%	1.14%	295,287
32	GSKY.2024-2 A4	GREENSKY HOME IMPROVEMENT ISSUER TRUST 2024-2 5.15%	1.13%	256,437
33	BAC.V5.288 04.25.34	Bank of America Corp. 5.288%	1.10%	250,000
34	ROCKT.2025-1A A1	ROCKFORD TOWER CLO 2025-1 LTD 5.4665%	1.09%	250,000
35	FN.AJ9278	Federal National Mortgage Association 3.5%	1.08%	264,003
36	FN.AU2592	Federal National Mortgage Association 3.5%	1.08%	262,394
37	MS.V2.484 09.16.36	Morgan Stanley 2.484%	1.06%	289,000
38	FN.MA2124	Federal National Mortgage Association 3%	0.91%	211,016
39	BIMBOA.5.375 01.09.36 144A	Bimbo Bakeries USA, Inc. 5.375%	0.90%	207,000
40	NIPLIF.V6.5 04.30.55 144a	Nippon Life Insurance Co. 6.5%	0.89%	200,000
41	HACLN.2024-2 B1	Huntington National Bank of Ohio 5.442%	0.88%	200,927
42	F.5.918 03.20.28	Ford Motor Credit Company LLC 5.918%	0.87%	200,000
43	FN.CB8858	Fnma Pass-Thru I 6%	0.86%	192,503
44	JPM.V5.717 09.14.33	JPMorgan Chase & Co. 5.717%	0.86%	189,000
45	GS.V4.387 06.15.27	Goldman Sachs Group, Inc. 4.387%	0.82%	186,000
46	AES.2.45 01.15.31	AES Corp. 2.45%	0.81%	216,000
47	MU.2.703 04.15.32	Micron Technology Inc. 2.703%	0.79%	214,000
48	T.2.55 12.01.33	AT&T Inc 2.55%	0.78%	215,000
49	n/a	EURO	0.78%	158,520
50	MFF.2024-1A D	MERCHANTS FLEET FUNDING LLC 6.85%	0.78%	176,000
51	n/a	CURRENCY CONTRACT - USD Purchased	0.73%	176,264
52	n/a	Buy Protection on CDX.NA.IG.43-V1.Dec.2029	0.71%	165,000
53	FN.BT4370	Fnma Pass-Thru I 2%	0.67%	192,556
54	FR.QD3229	Federal Home Loan Mortgage Corp. 2%	0.65%	188,283
55	FCO.2025-31A A1	Fortress Cr Opport Clo 2025-31 FRN 0%	0.65%	150,000
56	WFC.V5.389 04.24.34	Wells Fargo & Co. 5.389%	0.64%	145,000
57	NYMT.2024-BPL2 A1	NYMT LOAN TRUST SERIES 2024-BPL2 6.509%	0.60%	137,000
58	MNET.2024-1A A2	Metronet Infrastructure Issuer LLC. 6.23%	0.59%	132,370
59	VTR.4 03.01.28	Ventas Realty Limited Partnership 4%	0.59%	136,000
60	VMW.2.2 08.15.31	VMware LLC 2.2%	0.59%	157,000
61	TFC.V5.867 06.08.34 MTN	Truist Financial Corp. 5.867%	0.59%	128,000
62	ENFIN.2024-2A A	ENFIN RESIDENTIAL SOLAR RECEIVABLES TRUST 2024-2 5.98%	0.58%	139,265
63	ES.5.125 05.15.33	Eversource Energy 5.125%	0.57%	130,000
64	CHTR.4.5 05.01.32 144A	CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.5%	0.57%	143,000
65	GS.V5.727 04.25.30	Goldman Sachs Group, Inc. 5.727%	0.57%	125,000
66	n/a	CASH	0.55%	125,256
67	EART.2025-1A C	EXETER AUTOMOBILE RECEIVABLES TRUST 2025-1 5.09%	0.50%	114,000
68	AOMT.2024-3 A2	ANGEL OAK MORTGAGE TRUST 2024-3 4.8%	0.48%	110,982
69	GS.6.75 10.01.37	Goldman Sachs Group, Inc. 6.75%	0.47%	100,000
70	ORCL.5.375 09.27.54	Oracle Corp. 5.375%	0.46%	119,000
71	ENBCN.V7.375 03.15.55	Enbridge Inc. 7.375%	0.46%	104,000
72	USCLN.2023-1 B	U S Bank National Assn Minneapolis Minnesota 6.789%	0.46%	103,211
73	T.4.125 02.29.32	United States Treasury Notes 4.125%	0.45%	101,000
74	RCKT.2024-CES2 A2	RCKT MORTGAGE TRUST 2024-CES2 6.389%	0.44%	100,000
75	FN.CA7972	Fnma Pass-Thru I 3%	0.44%	113,400
76	NRZT.2025-NQM2 A1	NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 5.566%	0.44%	98,582
77	CROSS.2025-H2 A2	CROSS 2025-H2 MORTGAGE TRUST 5.458%	0.43%	98,886
78	CVI.5.75 02.15.28 144A	CVR Energy Inc. 5.75%	0.40%	100,000
79	R.4.85 06.15.30 MTN	Ryder System, Inc. 4.85%	0.39%	90,000
80	ABIBB.4.7 02.01.36 *	Anheuser-Busch Companies LLC / Anheuser-Busch InBev Worldwide Inc 4.7%	0.38%	90,000
81	REXR.2.15 09.01.31	Rexford Industrial Realty L P 2.15%	0.38%	105,000
82	ENFIN.2024-1A A	ENFIN RESIDENTIAL SOLAR RECEIVABLES TRUST 2024-1 6.65%	0.38%	88,878
83	DPABS.2021-1A A2I	Dominos Pizza Inc. 2.662%	0.38%	92,388
84	PM.2.1 05.01.30	Philip Morris International Inc. 2.1%	0.35%	90,000
85	MPC.5.7 03.01.35	Marathon Petroleum Corp. 5.7%	0.35%	81,000
86	FN.FS8813	Fnma Pass-Thru I 4.5%	0.35%	82,374
87	CROSS.2024-H2 A3	CROSS 2024-H2 MORTGAGE TRUST 6.518%	0.35%	78,335
88	CLF.7 03.15.32 144A	Cleveland-Cliffs Inc 7%	0.34%	82,000
89	DTE.4.95 07.01.27	DTE Energy Co. 4.95%	0.34%	75,000
90	DHI.5.5 10.15.35	D.R. Horton, Inc. 5.5%	0.34%	76,000
91	KHC.4.375 06.01.46	Kraft Heinz Foods Company 4.375%	0.33%	90,000
92	SMYREA.8.875 11.15.31 144A	Smyrna Ready Mix Concrete LLC 8.875%	0.32%	69,000
93	COLT.2023-3 A2	COLT 2023-3 MORTGAGE LOAN TRUST 7.432%	0.32%	71,157
94	PEG.5.45 04.01.34	Public Service Enterprise Group Incorporated 5.45%	0.31%	71,000
95	TECPET.7.625 01.22.33 144A	Tecpetrol SA 7.625%	0.31%	70,000
96	INTC.5.6 02.21.54	Intel Corporation 5.6%	0.31%	80,000
97	BRAVO.2023-NQM5 A2	BRAVO RESIDENTIAL FUNDING TRUST 2023-NQM5 6.86%	0.31%	68,925
98	NXPI.3.4 05.01.30	NXP B V / NXP Funding LLC & NXP USA Inc 3.4%	0.30%	72,000
99	GLP.8.25 01.15.32 144A	Global Partners LP / GLP Finance Corp. 8.25%	0.30%	65,000
100	BA.6.858 05.01.54	The Boeing Company 6.858%	0.29%	60,000
101	NI.5.35 04.01.34	NiSource Inc. 5.35%	0.28%	64,000
102	KRG.4.95 12.15.31	Kite Realty Group, L.P. 4.95%	0.28%	64,000
103	BATSLN.6.343 08.02.30	B.A.T. Capital Corporation 6.343%	0.28%	59,000
104	SIRI.4 07.15.28 144A	Sirius Xm Radio Inc 4%	0.27%	66,000
105	ROMANI.5.75 03.24.35 144A	Romania (Republic Of) 5.75%	0.27%	70,000
106	n/a	USD IM FOR CENTRAL CLEARING BROKER JPM	0.27%	61,476
107	JPMMT.2024-CES1 A2	J.P.MORGAN MORTGAGE TRUST 2024-CES1 6.148%	0.27%	60,123
108	GM.5.9 01.07.35	General Motors Financial Company Inc 5.9%	0.26%	60,000
109	FR.SL0526	Federal Home Loan Mortgage Corp. 5.5%	0.26%	59,703
110	BXP.5.75 01.15.35	Boston Properties Limited Partnership 5.75%	0.26%	60,000
111	SO.V6.375 03.15.55 2025	Southern Co. 6.375%	0.26%	58,000
112	CITPET.8.375 01.15.29 144A	CITGO Petroleum Corporation 8.375%	0.26%	58,000
113	DELL.3.45 12.15.51	Dell International L.L.C. and EMC Corporation 3.45%	0.26%	88,000
114	C.V6.02 01.24.36	Citigroup Inc. 6.02%	0.26%	58,000
115	PAA.5.95 06.15.35	Plains All American Pipeline L.P. 5.95%	0.26%	58,000
116	PECO.5.75 07.15.34	Phillips Edison Grocery Center Operating Partnership I L P 5.75%	0.26%	57,000
117	MSBAM.2025-5C1 A2	MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 2025-5C1 4.913%	0.26%	58,000
118	PEG.6.125 10.15.33	Public Service Enterprise Group Incorporated 6.125%	0.25%	55,000
119	STOR.5.4 04.30.30	Store Capital LLC 5.4%	0.25%	57,000
120	BRX.5.2 04.01.32	Brixmor Operating Partnership LP 5.2%	0.25%	56,000
121	POWSOL.6.75 02.15.30 144A	Clarios Global LP / Clarios US Finance Company Inc 6.75%	0.24%	54,000
122	SOBOCN.5.026 10.01.29 144A	South Bow USA Infrastructure Holdings LLC 5.026%	0.24%	56,000
123	GPN.5.4 08.15.32	Global Payments Inc 5.4%	0.24%	55,000
124	NCLH.6.75 02.01.32 144A	NCL Corporation Ltd. 6.75%	0.24%	55,000
125	SUZANO.3.75 01.15.31	Suzano Austria GmbH 3.75%	0.24%	59,000
126	CFG.V5.718 07.23.32	Citizens Financial Group Inc 5.718%	0.23%	52,000
127	CFG.V6.645 04.25.35	Citizens Financial Group Inc 6.645%	0.23%	50,000
128	STT.V6.7 PERP I	State Street Corp. 6.7%	0.23%	52,000
129	AGR.5.85 08.15.33 144A	New York State Electric & Gas Corporation 5.85%	0.23%	50,000
130	GM.5.625 04.04.32	General Motors Financial Company Inc 5.625%	0.23%	52,000
131	DTMINC.4.3 04.15.32 144A	DT Midstream Inc 4.3%	0.23%	56,000
132	NGGLN.5.936 11.25.52 144A	New England Power Company 5.936%	0.22%	49,000
133	AMGN.5.375 05.15.43	Amgen Inc. 5.375%	0.22%	53,000
134	CTRA.5.9 02.15.55	Coterra Energy Inc 5.9%	0.22%	55,000
135	HCA.5.45 09.15.34	HCA Inc. 5.45%	0.22%	51,000
136	GLENLN.5.186 04.01.30 144A	Glencore Funding LLC 5.186%	0.22%	50,000
137	MCAIRH.5.2 03.27.28 144A	Macquarie Airfinance Holdings Ltd 5.2%	0.22%	50,000
138	EFF.2025-2 A3	ENTERPRISE FLEET FINANCING 2025-2 L 4.41%	0.22%	50,000
139	USB.V5.836 06.12.34	U.S. Bancorp. 5.836%	0.22%	47,000
140	AMH.5.25 03.15.35	American Homes 4 Rent L P 5.25%	0.21%	50,000
141	TRTN.3.15 06.15.31 144A	Triton Container International Ltd. 3.15%	0.21%	56,000
142	GT.5 07.15.29	Goodyear Tire & Rubber Co. The 5%	0.21%	50,000
143	AES.V6.95 07.15.55	AES Corp. 6.95%	0.21%	50,000
144	TFC.V7.161 10.30.29 MTN	Truist Financial Corp. 7.161%	0.21%	44,000
145	ABG.5 02.15.32 144A	Asbury Automotive Group, Inc. 5%	0.20%	50,000
146	CYRUS.2025-1A A2	CYRUSONE DATA CENTERS ISSUER I LLC 5.91%	0.20%	45,000
147	CZR.6.5 02.15.32 144A	Caesars Entertainment Inc. 6.5%	0.20%	45,000
148	HOWMID.8.875 07.15.28 144A	Howard Midstream Energy Partners Llc 8.875%	0.20%	43,000
149	OHI.5.25 01.15.26	Omega Healthcare Investors, Inc. 5.25%	0.20%	45,000
150	DTMINC.5.8 12.15.34 144A	DT Midstream Inc 5.8%	0.20%	45,000
151	CUZ.5.375 02.15.32	Cousins Properties LP 5.375%	0.20%	45,000
152	EPR.4.75 12.15.26	EPR Properties 4.75%	0.20%	45,000
153	RISBAK.8.625 11.01.31 144A	Viking Baked Goods Acquisition Corp 8.625%	0.19%	45,000
154	CCO.5.125 08.15.27 144A	Clear Channel Outdoor Holdings Inc New 5.125%	0.19%	45,000
155	VNO.2.15 06.01.26	Vornado Realty Lp 2.15%	0.19%	45,000
156	PARA.5.85 09.01.43	Paramount Global 5.85%	0.19%	51,000
157	SDART.2025-1 C	SANTANDER DRIVE AUTO 2025-1 5.04%	0.19%	43,000
158	OLN.6.625 04.01.33 144A	Olin Corporation 6.625%	0.19%	45,000
159	SANUSA.V6.499 03.09.29	Santander Holdings USA Inc. 6.499%	0.18%	40,000
160	CFG.V5.841 01.23.30	Citizens Financial Group Inc 5.841%	0.18%	40,000
161	NDAQ.5.35 06.28.28	Nasdaq Inc 5.35%	0.17%	38,000
162	VALEBZ.6.4 06.28.54	Vale Overseas Limited 6.4%	0.17%	40,000
163	OKE.5.8 11.01.30	Oneok Inc. 5.8%	0.17%	37,000
164	LNG.5.65 04.15.34	Cheniere Energy Inc 5.65%	0.17%	39,000
165	ES.5.5 01.01.34	Eversource Energy 5.5%	0.17%	38,000
166	UAL.3.65 01.07.26	United Air Lines, Inc. 3.65%	0.17%	38,044
167	KRG.4 10.01.26	Kite Realty Group, L.P. 4%	0.16%	38,000
168	PAA.4.9 02.15.45	Plains All American Pipeline L.P. 4.9%	0.16%	45,000
169	LVS.5.625 06.15.28	Las Vegas Sands Corp 5.625%	0.16%	37,000
170	FI.5.6 03.02.33	Fiserv Inc. 5.6%	0.16%	36,000
171	n/a	USD CCP COLL VM JPM	0.16%	36,724
172	AMCR.5.1 03.17.30 144A	Amcor Flexibles North America Inc 5.1%	0.16%	36,000
173	SNAP.6.875 03.01.33 144A	Snap Inc 6.875%	0.15%	35,000
174	HCA.3.125 03.15.27	HCA Inc. 3.125%	0.15%	36,000
175	UNM.6 06.15.54	Unum Group 6%	0.15%	35,000
176	SJM.6.5 11.15.53	The J M Smucker Company 6.5%	0.15%	31,000
177	ARE.4.75 04.15.35	Alexandria Real Estate Equities, Inc. 4.75%	0.15%	36,000
178	HBRLN.6.327 04.01.35 144A	Harbour Energy PLC 6.327%	0.15%	35,000
179	HESM.5.5 10.15.30 144A	Hess Midstream Operations LP 5.5%	0.15%	34,000
180	CRBG.4.4 04.05.52	Corebridge Financial Inc. 4.4%	0.14%	40,000
181	VENLNG.8.125 06.01.28 144A	Venture Global LNG Inc. 8.125%	0.13%	30,000
182	GLP.6.875 01.15.29	Global Partners LP / GLP Finance Corp. 6.875%	0.13%	30,000
183	FN.CB3851	Fnma Pass-Thru I 4%	0.13%	31,970
184	PM.5.625 11.17.29	Philip Morris International Inc. 5.625%	0.13%	27,000
185	EXC.5.45 03.15.34	Exelon Corp. 5.45%	0.12%	27,000
186	NEE.V6.5 08.15.55 .	NextEra Energy Capital Holdings Inc 6.5%	0.12%	27,000
187	NGGLN.5.664 01.17.54 144A	Niagara Mohawk Power Corp. 5.664%	0.12%	28,000
188	WLAKE.2025-1A C	WESTLAKE AUTOMOBILE RECEIVABLES TRUST 2025-1 5.14%	0.11%	25,000
189	ARGENT.3.5 07.09.41	Argentina (Republic Of) 3.5%	0.11%	40,000
190	TEN.8 11.17.28 144A	Tenneco Inc. 8%	0.11%	25,000
191	BATSLN.7.081 08.02.53	B.A.T. Capital Corporation 7.081%	0.10%	21,000
192	COF.V6.183 01.30.36	Capital One Financial Corp. 6.183%	0.10%	23,000
193	T.3.75 04.15.26	United States Treasury Notes 3.75%	0.10%	23,000
194	n/a	EUR VM FOR CENTRAL CLEARING BROKER JPM	0.10%	19,767
195	ORCL.5.55 02.06.53	Oracle Corp. 5.55%	0.10%	24,000
196	STLD.5.75 05.15.55	Steel Dynamics, Inc. 5.75%	0.10%	23,000
197	HOWMID.7.375 07.15.32 144A	Howard Midstream Energy Partners Llc 7.375%	0.10%	21,000
198	UAL.4.625 04.15.29 144A	United Air Lines, Inc. 4.625%	0.09%	23,000
199	EXC.V6.5 03.15.55	Exelon Corp. 6.5%	0.09%	21,000
200	VICI.4.75 04.01.28	VICI Properties LP 4.75%	0.09%	21,000
201	WLSC.6.625 06.15.29 144A	Williams Scotsman Inc. 6.625%	0.09%	20,000
202	YPFDAR.8.75 09.11.31 144A	YPF Sociedad Anonima 8.75%	0.09%	20,000
203	KMI.5.15 06.01.30	Kinder Morgan, Inc. 5.15%	0.09%	20,000
204	PAYX.5.6 04.15.35	Paychex Inc 5.6%	0.08%	19,000
205	ET.6.25 04.15.49	Energy Transfer LP 6.25%	0.08%	20,000
206	n/a	591239W	0.08%	2,619,726
207	INTC.5.2 02.10.33	Intel Corporation 5.2%	0.08%	18,000
208	n/a	EURO	0.07%	14,378
209	NI.5.25 03.30.28	NiSource Inc. 5.25%	0.07%	15,000
210	SUN.6.25 07.01.33 144A	Sunoco LP 6.25%	0.06%	14,000
211	EIX.5.25 03.15.30	Southern California Edison Company 5.25%	0.06%	13,000
212	KRG.5.5 03.01.34	Kite Realty Group, L.P. 5.5%	0.06%	13,000
213	OKE.6.1 11.15.32	Oneok Inc. 6.1%	0.06%	12,000
214	AEP.5.625 04.01.53	Indiana Michigan Power Company 5.625%	0.05%	12,000
215	NDAQ.5.95 08.15.53	Nasdaq Inc 5.95%	0.05%	11,000
216	INTC.5.7 02.10.53	Intel Corporation 5.7%	0.05%	12,000
217	CARR.6.2 03.15.54	Carrier Global Corporation 6.2%	0.04%	8,000
218	n/a	SWEDISH KRONA	0.03%	67,605
219	n/a	BRITISH POUND	0.03%	4,917
220	n/a	AUQ	0.02%	8,670
221	n/a	AUSTRALIAN DOLLAR	0.00%	12
222	n/a	ROMANIAN LEU	0.00%	13
223	n/a	GBQ	0.00%	1
224	FG.J14732	Federal Home Loan Mortgage Corp. 4%	0.00%	1
225	n/a	Ultra 10 Year US Treasury Note Future June 25	-0.50%	1
226	n/a	Ultra US Treasury Bond Future June 25	-0.54%	1
227	n/a	CURRENCY CONTRACT - USD Sold	-0.81%	176,264
228	n/a	CURRENCY CONTRACT - USD Sold	-1.77%	315,000
229	n/a	CURRENCY CONTRACT - CAD Sold	-4.28%	1,411,000
230	n/a	CANADIA DOLLAR	-4.53%	1,431,926
231	n/a	Cash Offset	-23.85%	5,464,123

As of Apr 30, 2025

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Sector	% Weight
United States	84.88%
Other	15.12%