Incorporation
by Reference: |
The audited financial
statements, schedules of investments and auditor's report included in the
Fund's Annual Report to Shareholders, for the fiscal year ended October
31, 2013, are hereby incorporated by reference into and are legally a part
of this SAI. |
Ticker
Symbols by Share Class | |||||||||||
Fund |
A |
B |
C |
J |
P |
Institutional |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
Bond & Mortgage
Securities |
PRBDX |
PROBX |
PBMCX |
PBMJX |
PMSIX |
PBOMX |
PBMNX |
PBMMX |
PBMSX |
PBMPX | |
California
Municipal |
SRCMX |
SQCMX |
SRCCX |
||||||||
Core Plus Bond
I |
PCBZX |
PCBRX |
PCBBX |
PCIRX |
PCBDX |
PCBEX | |||||
Diversified
International |
PRWLX |
PRBWX |
PDNCX |
PIIJX |
PDIPX |
PIIIX |
PDVIX |
PINNX |
PINRX |
PINLX |
PINPX |
Equity Income |
PQIAX |
PQUBX |
PEUCX |
PEQPX |
PEIIX |
PIEMX |
PEINX |
PEIOX |
PEIPX |
PEIQX | |
Global Diversified
Income |
PGBAX |
PGDCX |
PGDPX |
PGDIX |
|||||||
Global Real Estate
Securities |
POSAX |
POSCX |
POSPX |
POSIX |
|||||||
Government & High Quality
Bond |
CMPGX |
CBUGX |
CCUGX |
PMRJX |
PGSPX |
PMRIX |
PMGRX |
PFMRX |
PRCMX |
PMRDX |
PMREX |
High Yield |
CPHYX |
CBHYX |
CCHIX |
PYHPX |
PHYTX |
||||||
High Yield I |
PYHAX |
PYHIX |
|||||||||
Income |
CMPIX |
CMIBX |
CNMCX |
PIOJX |
PIMPX |
PIOIX |
PIOMX |
PIONX |
PIOOX |
PIOPX |
PIOQX |
Inflation
Protection |
PITAX |
PPOCX |
PIPJX |
PIPIX |
PISPX |
PBSAX |
PIFPX |
PIFSX |
PBPPX | ||
International Emerging
Markets |
PRIAX |
PIEBX |
PMKCX |
PIEJX |
PIEPX |
PIEIX |
PIXEX |
PEASX |
PEAPX |
PESSX |
PEPSX |
International I |
PFAFX |
PTRPX |
PINIX |
PPISX |
PSPPX |
PRPPX |
PUPPX |
PTPPX | |||
LargeCap Blend
II |
PLBJX |
PLBIX |
PLBSX |
PPZNX |
PPZMX |
PPZSX |
PPZPX | ||||
LargeCap Growth |
PRGWX |
PRGBX |
PLGCX |
PGLJX |
PGLPX |
PGLIX |
PLSGX |
PCPPX |
PLGPX |
PEPPX |
PDPPX |
LargeCap Growth
I |
PLGAX |
PLGJX |
PVCPX |
PLGIX |
PCRSX |
PPUNX |
PPUMX |
PPUSX |
PPUPX | ||
LargeCap Growth
II |
PPLJX |
PPIIX |
PDASX |
PPTNX |
PPTMX |
PPTSX |
PPTPX | ||||
LargeCap S&P 500
Index |
PLSAX |
PLICX |
PSPJX |
PLFIX |
PLPIX |
PLFNX |
PLFMX |
PLFSX |
PLFPX | ||
LargeCap Value |
PCACX |
PCCBX |
PLUCX |
PVLJX |
PVFPX |
PVLIX |
PLSVX |
PLVNX |
PLVMX |
PLVSX |
PLVPX |
LargeCap Value
I |
PVPIX |
PVUAX |
PABEX |
PABDX |
PAGBX |
PAFBX | |||||
LargeCap Value
III |
PLVJX |
PLVIX |
PESAX |
PPSNX |
PPSFX |
PPSSX |
PPSRX | ||||
MidCap |
PEMGX |
PRMBX |
PMBCX |
PMBJX |
PMCPX |
PCBIX |
PMSBX |
PMBNX |
PMBMX |
PMBSX |
PMBPX |
MidCap Growth |
PMGJX |
PGWIX |
PMSGX |
PGPPX |
PFPPX |
PIPPX |
PHPPX | ||||
MidCap Growth
III |
PPQJX |
PPIMX |
PHASX |
PPQNX |
PPQMX |
PPQSX |
PPQPX | ||||
MidCap S&P 400
Index |
PMFJX |
MPSIX |
PMSSX |
PMFNX |
PMFMX |
PMFSX |
PMFPX | ||||
MidCap Value I |
PVEJX |
PVMIX |
PLASX |
PABUX |
PMPRX |
PABWX |
PABVX | ||||
MidCap Value
III |
PVCAX |
PMCJX |
PMVPX |
PVUIX |
PMSVX |
PKPPX |
PJPPX |
PMPPX |
PLPPX | ||
Money Market |
PCSXX |
PMBXX |
PPCXX |
PMJXX |
PVMXX |
||||||
Overseas |
PINZX |
PINQX |
PINSX |
PINTX |
PINUX |
PINGX | |||||
Principal Capital
Appreciation |
CMNWX |
CMNBX |
CMNCX |
PCFPX |
PWCIX |
PCAMX |
PCANX |
PCAOX |
PCAPX |
PCAQX | |
Principal LifeTime Strategic
Income |
PALTX |
PLTSX |
PLSJX |
PLSIX |
PLAIX |
PLSNX |
PLSMX |
PLSSX |
PLSPX | ||
Principal LifeTime
2010 |
PENAX |
PTAJX |
PTTIX |
PVASX |
PTANX |
PTAMX |
PTASX |
PTAPX | |||
Principal LifeTime
2015 |
LTINX |
LTSGX |
LTASX |
LTAPX |
LTSLX |
LTPFX | |||||
Principal LifeTime
2020 |
PTBAX |
PLIBX |
PLFJX |
PLWIX |
PWASX |
PTBNX |
PTBMX |
PTBSX |
PTBPX | ||
Principal LifeTime
2025 |
LTSTX |
LTSNX |
LTADX |
LTVPX |
LTEEX |
LTPDX | |||||
Principal LifeTime
2030 |
PTCAX |
PTCBX |
PLTJX |
PMTIX |
PXASX |
PTCNX |
PTCMX |
PTCSX |
PTCPX | ||
Principal LifeTime
2035 |
LTIUX |
LTANX |
LTVIX |
LTAOX |
LTSEX |
LTPEX | |||||
Principal LifeTime
2040 |
PTDAX |
PTDBX |
PTDJX |
PTDIX |
PYASX |
PTDNX |
PTDMX |
PTDSX |
PTDPX | ||
Principal LifeTime
2045 |
LTRIX |
LTRGX |
LTRSX |
LTRVX |
LTRLX |
LTRDX | |||||
Principal LifeTime
2050 |
PPEAX |
PLTFX |
PFLJX |
PPLIX |
PZASX |
PTENX |
PTERX |
PTESX |
PTEFX | ||
Principal LifeTime
2055 |
LTFIX |
LTFGX |
LTFSX |
LTFDX |
LTFLX |
LTFPX | |||||
Principal LifeTime
2060 |
PLTAX |
PLTZX |
PLTRX |
PLTBX |
PLTCX |
PLTMX |
PLTOX | ||||
Real Estate
Securities |
PRRAX |
PRLEX |
PRCEX |
PREJX |
PIRPX |
PIREX |
PRAEX |
PRENX |
PRERX |
PRETX |
PREPX |
Short-Term
Income |
SRHQX |
STCCX |
PSJIX |
PSTPX |
PSHIX |
PSIMX |
PSINX |
PSIOX |
PSIPX |
PSIQX | |
SmallCap Blend |
PLLAX |
PLLBX |
PSMCX |
PSBJX |
PSFPX |
PSLIX |
PSABX |
PSBNX |
PSBMX |
PSBSX |
PSBPX |
SmallCap Growth
I |
PSIJX |
PGRTX |
PNASX |
PPNNX |
PPNMX |
PPNSX |
PPNPX | ||||
SmallCap S&P 600
Index |
PSSJX |
PSSIX |
PSAPX |
PSSNX |
PSSMX |
PSSSX |
PSSPX | ||||
SmallCap Value
II |
PSVAX |
PSMJX |
PSCPX |
PPVIX |
PCPTX |
PKARX |
PJARX |
PSTWX |
PLARX | ||
SAM Balanced |
SABPX |
SBBPX |
SCBPX |
PSAJX |
PSBIX |
PSBGX |
PSBVX |
PBAPX |
PSBLX |
PSBFX | |
SAM Conservative
Balanced |
SAIPX |
SBIPX |
SCIPX |
PCBJX |
PCCIX |
PCSSX |
PCNSX |
PCBPX |
PCBLX |
PCBFX | |
SAM Conservative
Growth |
SAGPX |
SBGPX |
SCGPX |
PCGJX |
PCWIX |
PCGGX |
PCGVX |
PCGPX |
PCWSX |
PCWPX | |
SAM Flexible
Income |
SAUPX |
SBUPX |
SCUPX |
PFIJX |
PIFIX |
PFIGX |
PFIVX |
PFIPX |
PFILX |
PFIFX | |
SAM Strategic
Growth |
SACAX |
SBCAX |
SWHCX |
PSWJX |
PSWIX |
PSGGX |
PSGVX |
PSGPX |
PSGLX |
PSGFX | |
Tax-Exempt Bond |
PTEAX |
PTBBX |
PTBCX |
TABLE OF
CONTENTS | |
FUND HISTORY |
|
DESCRIPTION OF THE FUNDS’
INVESTMENTS AND RISKS |
|
LEADERSHIP STRUCTURE AND BOARD
OF DIRECTORS |
|
INVESTMENT ADVISORY AND OTHER
SERVICES |
|
MULTIPLE CLASS
STRUCTURE |
|
INTERMEDIARY
COMPENSATION |
|
BROKERAGE ALLOCATION AND OTHER
PRACTICES |
|
PURCHASE AND REDEMPTION OF
SHARES |
|
PRICING OF FUND
SHARES |
|
TAX
CONSIDERATIONS |
|
PORTFOLIO HOLDINGS
DISCLOSURE |
|
PROXY VOTING POLICIES AND
PROCEDURES |
|
FINANCIAL
STATEMENTS |
|
INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM |
|
GENERAL
INFORMATION |
|
CONTROL PERSONS AND PRINCIPAL
HOLDERS OF SECURITIES |
|
PORTFOLIO MANAGER
DISCLOSURE |
|
APPENDIX A – DESCRIPTION OF
BOND RATINGS |
|
APPENDIX B – PROXY VOTING
POLICIES |
Share
Class | |||||||||||
Fund/Portfolio |
A |
B |
C |
J |
P |
Institutional |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
Bond & Mortgage
Securities |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
California
Municipal |
X |
X |
X |
||||||||
Core Plus Bond
I |
X |
X |
X |
X |
X |
X | |||||
Diversified
International |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
Equity Income |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
Global Diversified
Income |
X |
X |
X |
X |
|||||||
Global Real Estate
Securities |
X |
X |
X |
X |
|||||||
Government & High Quality
Bond |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
High Yield |
X |
X |
X |
X |
X |
||||||
High Yield I |
X |
X |
|||||||||
Income |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
Inflation
Protection |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
International Emerging
Markets |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
International I |
X |
X |
X |
X |
X |
X |
X |
X | |||
LargeCap Blend
II |
X |
X |
X |
X |
X |
X |
X | ||||
LargeCap Growth |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
LargeCap Growth
I |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
LargeCap Growth
II |
X |
X |
X |
X |
X |
X |
X | ||||
LargeCap S&P 500
Index |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
LargeCap Value |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
LargeCap Value
I |
X |
X |
X |
X |
X |
X | |||||
LargeCap Value
III |
X |
X |
X |
X |
X |
X |
X | ||||
MidCap |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
MidCap Growth |
X |
X |
X |
X |
X |
X |
X | ||||
MidCap Growth
III |
X |
X |
X |
X |
X |
X |
X | ||||
MidCap S&P 400
Index |
X |
X |
X |
X |
X |
X |
X | ||||
MidCap Value I |
X |
X |
X |
X |
X |
X |
X | ||||
MidCap Value
III |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Money Market |
X |
X |
X |
X |
X |
||||||
Overseas |
X |
X |
X |
X |
X |
X | |||||
Principal Capital
Appreciation |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
Principal LifeTime
2010 |
X |
X |
X |
X |
X |
X |
X |
X | |||
Principal LifeTime
2015 |
X |
X |
X |
X |
X |
X | |||||
Principal LifeTime
2020 |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Principal LifeTime
2025 |
X |
X |
X |
X |
X |
X | |||||
Principal LifeTime
2030 |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Principal LifeTime
2035 |
X |
X |
X |
X |
X |
X | |||||
Principal LifeTime
2040 |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Principal LifeTime
2045 |
X |
X |
X |
X |
X |
X | |||||
Principal LifeTime
2050 |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Principal LifeTime
2055 |
X |
X |
X |
X |
X |
X | |||||
Principal LifeTime
2060 |
X |
X |
X |
X |
X |
X |
X | ||||
Principal LifeTime Strategic
Income |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Real Estate
Securities |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
SAM Balanced |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
SAM Conservative
Balanced |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
SAM Conservative
Growth |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
SAM Flexible
Income |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
SAM Strategic
Growth |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
Short-Term
Income |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X | |
SmallCap Blend |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
SmallCap Growth
I |
X |
X |
X |
X |
X |
X |
X | ||||
SmallCap S&P 600
Index |
X |
X |
X |
X |
X |
X |
X | ||||
SmallCap Value
II |
X |
X |
X |
X |
X |
X |
X |
X |
X | ||
Tax-Exempt Bond |
X |
X |
X |
1) |
Fund may not issue senior
securities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
2) |
Fund may not purchase or sell
commodities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
3) |
Fund may not purchase or sell
real estate, which term does not include securities of companies which
deal in real estate or mortgages or investments secured by real estate or
interests therein, except that each Fund reserves freedom of action to
hold and to sell real estate acquired as a result of the Fund’s ownership
of securities. |
4) |
Fund may not borrow money,
except as permitted under the 1940 Act, as amended, and as interpreted,
modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time. |
5) |
Fund may not make loans except
as permitted under the 1940 Act, as amended, and as interpreted, modified
or otherwise permitted by regulatory authority having jurisdiction, from
time to time. |
6) |
Fund, except Global Real
Estate Securities and Real Estate Securities Funds, has elected to be
treated as a “diversified” investment company, as that term is used in the
1940 Act, as amended, and as interpreted, modified or otherwise permitted
by regulatory authority having jurisdiction, from time to time. This
restriction does not apply to the California Municipal
Fund. |
7) |
Fund may not invest more than
5% of its total assets in the securities of any one issuer (other than
obligations issued or guaranteed by the U.S. government or its agencies or
instrumentalities) or purchase more than 10% of the outstanding voting
securities of any one issuer, except that this limitation shall apply only
with respect to 75% of the total assets of the Fund. This restriction
applies only to the California Municipal
Fund. |
8) |
Fund may not concentrate, as
that term is used in the 1940 Act, its investments in a particular
industry, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. This restriction does not
apply to the Global Real Estate Securities and Real Estate Securities
Funds (the restriction applies to the LargeCap S&P 500 Index, MidCap
S&P 400 Index, and SmallCap S&P 600 Index Funds except to the
extent that the related Index is also so
concentrated). |
9) |
Fund may not act as an
underwriter of securities, except to the extent that the Fund may be
deemed to be an underwriter in connection with the sale of securities held
in its portfolio. |
1) |
Invest more than 15% (5% in
the case of the Money Market Fund) of its net assets in illiquid
securities and in repurchase agreements maturing in more than seven days
except to the extent permitted by applicable
law. |
2) |
Pledge, mortgage, or
hypothecate its assets, except to secure permitted borrowings. The deposit
of underlying securities and other assets in escrow and other collateral
arrangements in connection with transactions in put or call options,
futures contracts, options on futures contracts, and over-the-counter swap
contracts are not deemed to be pledges or other
encumbrances. |
3) |
Invest in companies for the
purpose of exercising control or
management. |
4) |
Invest more than 25% (35% for
High Yield Fund and 50% for the Core Plus Bond Fund I) of its assets in
foreign securities, except that the Diversified International, Global
Diversified Income, Global Real Estate Securities, International Emerging
Markets, Money Market, and Overseas Funds each may invest up to 100% of
its assets in foreign securities, the LargeCap S&P 500 Index, MidCap
S&P 400 Index, and SmallCap S&P 600 Index Funds each may invest in
foreign securities to the extent that the relevant index is so invested,
and the California Municipal, Government & High Quality Bond, and
Tax-Exempt Bond Funds may not invest in foreign
securities. |
5) |
Invest more than 5% of its
total assets in real estate limited partnership interests (except the
Global Diversified Income, Global Real Estate Securities, and Real Estate
Securities Funds). |
6) |
Acquire securities of other
investment companies in reliance on Section 12(d)(1)(F) or (G) of the 1940
Act, invest more than 10% of its total assets in securities of other
investment companies, invest more than 5% of its total assets in the
securities of any one investment company, or acquire more than 3% of the
outstanding voting securities of any one investment company except in
connection with a merger, consolidation, or plan of reorganization and
except as permitted by the 1940 Act, SEC rules adopted under the 1940 Act
or exemptions granted by the Securities and Exchange Commission. The Fund
may purchase securities of closed-end investment companies in the open
market where no underwriter or dealer’s commission or profit, other than a
customary broker’s commission, is
involved. |
1) |
May not issue senior
securities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
2) |
May not purchase or sell
commodities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
3) |
May not purchase or sell real
estate, which term does not include securities of companies which deal in
real estate or mortgages or investments secured by real estate or
interests therein, except that the Fund reserves freedom of action to hold
and to sell real estate acquired as a result of the Fund’s ownership of
securities. |
4) |
May not borrow money, except
as permitted under the 1940 Act, as amended, and as interpreted, modified
or otherwise permitted by regulatory authority having jurisdiction, from
time to time. |
5) |
May not make loans except as
permitted under the 1940 Act, as amended, and as interpreted, modified or
otherwise permitted by regulatory authority having jurisdiction, from time
to time. |
6) |
Has elected to be treated as a
“diversified” investment company, as that term is used in the 1940 Act, as
amended, and as interpreted, modified or otherwise permitted by regulatory
authority having jurisdiction, from time to
time. |
7) |
May not concentrate, as that
term is used in the 1940 Act, its investments in a particular industry,
except as permitted under the 1940 Act, as amended, and as interpreted,
modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time. |
8) |
May not act as an underwriter
of securities, except to the extent that the Fund may be deemed to be an
underwriter in connection with the sale of securities held in its
portfolio. |
1) |
Purchase securities on margin,
except that the Fund may obtain such short-term credits as are necessary
for the clearance of transactions, and provided that margin payments in
connection with futures contracts and options on futures contracts shall
not constitute purchasing securities on
margin. |
2) |
Purchase any security if, as a
result, more than 15% of its net assets would be invested in securities
that are deemed to be illiquid because they are subject to legal or
contractual restrictions on resale or because they cannot be sold or
disposed of in the ordinary course of business at approximately the prices
at which they are valued. |
3) |
Acquire securities of other
investment companies in reliance on Section 12(d)(1)(F) or (G) of the 1940
Act, invest more than 10% of its total assets in securities of other
investment companies, invest more than 5% of its total assets in the
securities of any one investment company, or acquire more than 3% of the
outstanding voting securities of any one investment company except in
connection with a merger, consolidation, or plan of reorganization and
except as permitted by the 1940 Act, SEC rules adopted under the 1940 Act
or exemptions granted by the Securities and Exchange Commission. The Fund
may purchase securities of closed-end investment companies in the open
market where no underwriter or dealer’s commission or profit, other than a
customary broker’s commission, is
involved. |
1) |
May not issue senior
securities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
2) |
May not purchase or sell
commodities, except as permitted under the 1940 Act, as amended, and as
interpreted, modified or otherwise permitted by regulatory authority
having jurisdiction, from time to time. |
3) |
May not purchase or sell real
estate, which term does not include securities of companies which deal in
real estate or mortgages or investments secured by real estate or
interests therein, except that each Fund reserves freedom of action to
hold and to sell real estate acquired as a result of the Fund’s ownership
of securities. |
4) |
May not borrow money, except
as permitted under the 1940 Act, as amended, and as interpreted, modified
or otherwise permitted by regulatory authority having jurisdiction, from
time to time. |
5) |
May not make loans except as
permitted under the 1940 Act, as amended, and as interpreted, modified or
otherwise permitted by regulatory authority having jurisdiction, from time
to time. |
6) |
Has elected to be treated as a
“diversified” investment company, as that term is used in the 1940 Act, as
amended, and as interpreted, modified or otherwise permitted by regulatory
authority having jurisdiction, from time to
time. |
7) |
May not concentrate, as that
term is used in the 1940 Act, its investments in a particular industry,
except as permitted under the 1940 Act, as amended, and as interpreted,
modified or otherwise permitted by regulatory authority having
jurisdiction, from time to time. |
8) |
May not act as an underwriter
of securities, except to the extent that the Fund may be deemed to be an
underwriter in connection with the sale of securities held in its
portfolio. |
1) |
Pledge, mortgage, or
hypothecate its assets, except to secure permitted borrowings. For the
purpose of this restriction, collateral arrangements with respect to the
writing of options by the underlying funds and collateral arrangements
with respect to initial or variation margin for futures by the underlying
funds are not deemed to be pledges of
assets. |
2) |
Invest in companies for the
purpose of exercising control or
management. |
• |
increased social, political,
and economic instability; |
• |
a smaller market for these
securities and low or nonexistent volume of trading that results in a lack
of liquidity and in greater price
volatility; |
• |
lack of publicly available
information, including reports of payments of dividends or interest on
outstanding securities; |
• |
foreign government policies
that may restrict opportunities, including restrictions on investment in
issuers or industries deemed sensitive to national
interests; |
• |
relatively new capital market
structure or market-oriented economy; |
• |
the possibility that recent
favorable economic developments may be slowed or reversed by unanticipated
political or social events in these
countries; |
• |
restrictions that may make it
difficult or impossible for the fund to vote proxies, exercise shareholder
rights, pursue legal remedies, and obtain judgments in foreign courts;
and |
• |
possible losses through the
holding of securities in domestic and foreign custodial banks and
depositories. |
• |
American Depositary Receipts
("ADRs") - receipts issued by an American bank or trust company evidencing
ownership of underlying securities issued by a foreign issuer. They are
designed for use in U.S. securities
markets. |
• |
European Depositary Receipts
("EDRs") and Global Depositary Receipts ("GDRs") - receipts typically
issued by a foreign financial institution to evidence an arrangement
similar to that of ADRs. |
• |
Spread Transactions. Each Fund
may engage in spread trades, which typically represent a simultaneous
purchase and sale of two different contracts designed to capture the
change in the relationship in price between the two contracts. Spread
transactions are typically accompanied by lower margin requirements and
lower volatility than an outright purchase. Each Fund may purchase spread
options. The purchase of a covered spread option gives the Fund the right
to put, or sell, a security that it owns at a fixed dollar spread or fixed
yield spread in relationship to another security that the Fund does not
own, but which is used as a benchmark. The risk to the Fund in purchasing
covered spread options is the cost of the premium paid for the spread
option and any transaction costs. In addition, there is no assurance that
closing transactions will be available. The security covering the spread
option is maintained in segregated accounts either with the Fund's
custodian or on the Fund's records. The Funds do not consider a security
covered by a spread option to be "pledged" as that term is used in the
Fund's policy limiting the pledging or mortgaging of assets. The purchase
of spread options can be used to protect each Fund against adverse changes
in prevailing credit quality spreads, i.e., the yield spread between high
quality and lower quality securities. |
• |
Options on Securities and
Securities Indices. Each Fund may write (sell) and purchase call and put
options on securities in which it invests and on securities indices based
on securities in which the Fund invests. The Funds may engage in these
transactions to hedge against a decline in the value of securities owned
or an increase in the price of securities which the Fund plans to
purchase, or to generate additional revenue.
|
• |
Writing Covered Call and Put
Options. When a Fund writes a call option, it gives the purchaser of the
option the right to buy a specific security at a specified price at any
time before the option expires. When a Fund writes a put option, it gives
the purchaser of the option the right to sell to the Fund a specific
security at a specified price at any time before the option expires. In
both situations, the Fund receives a premium from the purchaser of the
option. |
• |
Purchasing Call and Put
Options. When a Fund purchases a call option, it receives, in return for
the premium it pays, the right to buy from the writer of the option the
underlying security at a specified price at any time before the option
expires. A Fund purchases call options in anticipation of an increase in
the market value of securities that it intends ultimately to buy. During
the life of the call option, the Fund is able to buy the underlying
security at the exercise price regardless of any increase in the market
price of the underlying security. In order for a call option to result in
a gain, the market price of the underlying security must exceed the sum of
the exercise price, the premium paid, and transaction
costs. |
• |
Options on Securities Indices.
Each Fund may purchase and sell put and call options on any securities
index based on securities in which the Fund may invest. Securities index
options are designed to reflect price fluctuations in a group of
securities or segment of the securities market rather than price
fluctuations in a single security. Options on securities indices are
similar to options on securities, except that the exercise of securities
index options requires cash payments and does not involve the actual
purchase or sale of securities. The Funds engage in transactions in put
and call options on securities indices for the same purposes as they
engage in transactions in options on securities. When a Fund writes call
options on securities indices, it holds in its portfolio underlying
securities which, in the judgment of the Sub-Advisor, correlate closely
with the securities index and which have a value at least equal to the
aggregate amount of the securities index
options. |
• |
Index Warrants. Funds may
purchase put warrants and call warrants whose values vary depending on the
change in the value of one or more specified securities indices (“index
warrants”). Index warrants are generally issued by banks or other
financial institutions and give the holder the right, at any time during
the term of the warrant, to receive upon exercise of the warrant a cash
payment from the issuer based on the value of the underlying index at the
time of exercise. In general, if the value of the underlying index rises
above the exercise price of the index warrant, the holder of a call
warrant will be entitled to receive a cash payment from the issuer upon
exercise based on the difference between the value of the index and the
exercise price of the warrant; if the value of the underlying index falls,
the holder of a put warrant will be entitled to receive a cash payment
from the issuer upon exercise based on the difference between the exercise
price of the warrant and the value of the index. The holder of a warrant
would not be entitled to any payments from the issuer at a time when, in
the case of a call warrant, the exercise price is more than the value of
the underlying index, or in the case of a put warrant, the exercise price
is less than the value of the underlying index. If a Fund were not to
exercise an index warrant prior to its expiration, then a Fund would lose
the amount of the purchase price paid by it for the warrant. A Fund will
normally use index warrants in a manner similar to its use of options on
securities indices. |
• |
Risks Associated with Option
Transactions. An option position may be closed out only on an exchange
that provides a secondary market for an option of the same series. The
Funds generally purchase or write only those options for which there
appears to be an active secondary market. However, there is no assurance
that a liquid secondary market on an exchange exists for any particular
option, or at any particular time. If a Fund is unable to effect closing
sale transactions in options it has purchased, it has to exercise its
options in order to realize any profit and may incur transaction costs
upon the purchase or sale of underlying securities. If a Fund is unable to
|
• |
Futures Contracts and Options
on Futures Contracts. Each Fund may purchase and sell futures contracts of
many types, including for example, futures contracts covering indexes,
financial instruments, and foreign currencies. Each Fund may purchase and
sell financial futures contracts and options on those contracts. Financial
futures contracts are commodities contracts based on financial instruments
such as U.S. Treasury bonds or bills or on securities indices such as the
S&P 500 Index. Futures contracts, options on futures contracts, and
the commodity exchanges on which they are traded are regulated by the
Commodity Futures Trading Commission. Through the purchase and sale of
futures contracts and related options, a Fund may seek to hedge against a
decline in the value of securities owned by the Fund or an increase in the
price of securities that the Fund plans to purchase. Each Fund may also
purchase and sell futures contracts and related options to maintain cash
reserves while simulating full investment in securities and to keep
substantially all of its assets exposed to the market. Each Fund may enter
into futures contracts and related options transactions both for hedging
and non-hedging purposes. |
• |
Futures Contracts. A Fund may
purchase or sell a futures contract to gain exposure to a particular
market asset without directly purchasing that asset. When a Fund sells a
futures contract based on a financial instrument, the Fund is obligated to
deliver that kind of instrument at a specified future time for a specified
price. When a Fund purchases that kind of contract, it is obligated to
take delivery of the instrument at a specified time and to pay the
specified price. In most instances, these contracts are closed out by
entering into an offsetting transaction before the settlement date. The
Fund realizes a gain or loss depending on whether the price of an
offsetting purchase plus transaction costs are less or more than the price
of the initial sale or on whether the price of an offsetting sale is more
or less than the price of the initial purchase plus transaction costs.
Although the Funds usually liquidate futures contracts on financial
instruments, by entering into an offsetting transaction before the
settlement date, they may make or take delivery of the underlying
securities when it appears economically advantageous to do
so. |
• |
Options on Futures Contracts.
The Funds may also purchase and write call and put options on futures
contracts. A call option on a futures contract gives the purchaser the
right, in return for the premium paid, to purchase a futures contract
(assume a long position) at a specified exercise price at any time before
the option expires. A put option gives the purchaser the right, in return
for the premium paid, to sell a futures contract (assume a short
position), for a specified exercise price, at any time before the option
expires. |
• |
Risks Associated with Futures
Transactions. There are a number of risks associated with transactions in
futures contracts and related options. The value of the assets that are
the subject of the futures contract may not move in the anticipated
direction. A Fund's successful use of futures contracts is subject to the
ability of the Sub-Advisor to predict correctly the factors affecting the
market values of the Fund's portfolio securities. For example, if a Fund
is hedged against the possibility of an increase in interest rates which
would adversely affect debt securities held by the Fund and the prices of
those debt securities instead increases, the Fund loses part or all of the
benefit of the increased value of its securities it hedged because it has
offsetting losses in its futures positions. Other risks include imperfect
correlation between price movements in the financial instrument or
securities index underlying the futures contract, on the one hand, and the
price movements of either the futures contract itself or the securities
held by the Fund, on the other hand. If the prices do not move in the same
direction or to the same extent, the transaction may result in trading
losses. |
• |
Limitations on the Use of
Futures, Options on Futures Contracts, and Swaps. Each Fund that utilizes
futures contracts, options on futures contracts or swaps has claimed an
exclusion from the definition of a “commodity pool operator” under the
Commodity Exchange Act and is not subject to registration or regulation as
a commodity pool operator under the Commodity Exchange Act. The Commodity
Futures Trading Commission recently amended rule 4.5 “Exclusion for
certain otherwise regulated persons from the definition of the term
“commodity pool operator.” Rule 4.5 provides that a mutual fund does not
meet the definition of “commodity pool operator” if its use of futures
contracts, options on futures contracts and swaps is sufficiently limited
that the fund can fall within one of two exclusions set out in rule 4.5.
The Funds intend to limit their use of futures contracts, options on
futures contracts and swaps to the degree necessary to fall within one of
the two exclusions. If any Fund is unable to do so, it may incur expenses
that are necessary to comply with the Commodity Exchange Act and rules the
Commodity Futures Trading Commission has adopted under it.
|
• |
Each Fund may enter into
futures contracts and related options transactions, for hedging purposes
and for other appropriate risk management purposes, and to modify the
Fund's exposure to various currency, equity, or fixed-income markets. Each
Fund may engage in speculative futures trading. When using futures
contracts and options on futures contracts for hedging or risk management
purposes, each Fund determines that the price fluctuations in the
contracts and options are substantially related to price fluctuations in
securities held by the Fund or which it expects to purchase. In pursuing
traditional hedging activities, each Fund may sell futures contracts or
acquire puts to protect against a decline in the price of securities that
the Fund owns. Each Fund may purchase futures contracts or calls on
futures contracts to protect the Fund against an increase in the price of
securities the Fund intends to purchase before it is in a position to do
so. |
• |
Options on Foreign Currencies.
In addition, a Fund may buy and write options on foreign currencies in a
manner similar to that in which futures or forward contracts on foreign
currencies will be utilized. A Fund may use options on foreign currencies
to hedge against adverse changes in foreign currency conversion rates. For
example, a decline in the U.S. dollar value of a foreign currency in which
portfolio securities are denominated will reduce the U.S. dollar value of
such securities, even if their value in the foreign currency remains
constant. In order to protect against such diminutions in the value of the
portfolio securities, a Fund may buy put options on the foreign currency.
If the value of the currency declines, a Fund will have the right to sell
such currency for a fixed amount in U.S. dollars, thereby offsetting, in
whole or in part, the adverse effect on its portfolio. Conversely, when a
rise in the U.S. dollar value of a currency in which securities to be
acquired are denominated is projected, thereby increasing the cost of such
securities, a Fund may buy call options on the foreign currency. The
purchase of such options could offset, at least partially, the effects of
the adverse movements in exchange rates. As in the case of other types of
options, however, the benefit to a Fund from purchases of foreign currency
options will be reduced by the amount of the premium and related
transaction costs. In addition, if currency exchange rates do not move in
the direction or to the extent desired, a Fund could sustain losses or
lesser gains on transactions in foreign currency options that would
require a Fund to forgo a portion or all of the benefits of advantageous
changes in those rates. |
• |
Futures on Currency. A foreign
currency future provides for the future sale by one party and purchase by
another party of a specified quantity of foreign currency at a specified
price and time. A public market exists in futures contracts covering a
number of foreign currencies. Currency futures contracts are
exchange-traded and change in value to reflect movements of a currency or
a basket of currencies. Settlement must be made in a designated
currency. |
• |
Forward Foreign Currency
Exchange Contracts. The Funds may, but are not obligated to, enter into
forward foreign currency exchange contracts. Currency transactions include
forward currency contracts and exchange listed or over-the-counter options
on currencies. A forward currency contract involves a privately negotiated
obligation to purchase or sell a specific currency at a specified future
date at a price set at the time of the
contract. |
• |
the frequency of trades and
quotations, |
• |
the number of dealers and
prospective purchasers in the
marketplace, |
• |
dealer undertakings to make a
market, |
• |
the nature of the security
(including any demand or tender features),
and |
• |
the nature of the marketplace
for trades (including the ability to assign or offset a portfolio's rights
and obligations relating to the
investment). |
• |
U.S. Government Securities -
Securities issued or guaranteed by the U.S. government, including treasury
bills, notes, and bonds. |
• |
U.S. Government Agency
Securities - Obligations issued or guaranteed by agencies or
instrumentalities of the U.S. government. |
• |
U.S. agency obligations
include, but are not limited to, the Bank for Cooperatives, Federal Home
Loan Banks, and Federal Intermediate Credit
Banks. |
• |
U.S. instrumentality
obligations include, but are not limited to, the Export-Import Bank,
Federal Home Loan Mortgage Corporation, and Federal National Mortgage
Association. |
• |
Bank Obligations -
Certificates of deposit, time deposits and bankers' acceptances of U.S.
commercial banks having total assets of at least one billion dollars and
overseas branches of U.S. commercial banks and foreign banks, which in the
opinion of the Sub-Advisor, are of comparable quality. The Fund may
acquire obligations of U.S. banks that are not members of the Federal
Reserve System or of the Federal Deposit Insurance
Corporation. |
• |
Commercial Paper - Short-term
promissory notes issued by U.S. or foreign
corporations. |
• |
Short-term Corporate Debt -
Corporate notes, bonds, and debentures that at the time of purchase have
397 days or less remaining to maturity. |
• |
Repurchase Agreements -
Instruments under which securities are purchased from a bank or securities
dealer with an agreement by the seller to repurchase the securities at the
same price plus interest at a specified
rate. |
• |
Taxable Municipal Obligations
- Short-term obligations issued or guaranteed by state and municipal
issuers which generate taxable income. |
• |
Municipal Bonds. Municipal
Bonds may be either "general obligation" or "revenue" issues. General
obligation bonds are secured by the issuer's pledge of its faith, credit,
and taxing power for the payment of principal and interest. Revenue bonds
are payable from the revenues derived from a particular facility or class
of facilities or, in some cases, from the proceeds of a special excise tax
or other specific revenue source (e.g., the user of the facilities being
financed), but not from the general taxing power. Industrial development
bonds and pollution control bonds in most cases are revenue bonds and
generally do not carry the pledge of the credit of the issuing
municipality. The payment of the principal and interest on industrial
revenue bonds depends solely on the ability of the user of the facilities
financed by the bonds to meet its financial obligations and the pledge, if
any, of real and personal property so financed as security for such
payment. Funds may also invest in "moral obligation" bonds that are
normally issued by special purpose public authorities. If an issuer of
moral obligation bonds is unable to meet its obligations, the repayment of
the bonds becomes a moral commitment but not a legal obligation of the
state or municipality in question. |
• |
Municipal Notes. Municipal
Notes usually are general obligations of the issuer and are sold in
anticipation of a bond sale, collection of taxes, or receipt of other
revenues. Payment of these notes is primarily dependent upon the issuer's
receipt of the anticipated revenues. Other notes include "Construction
Loan Notes" issued to provide construction financing for specific
projects, and "Bank Notes" issued by local governmental bodies and
agencies to commercial banks as evidence of borrowings. Some notes
("Project Notes") are issued by local agencies under a program
administered by the U.S. Department of Housing and Urban Development.
Project Notes are secured by the full faith and credit of the United
States. |
• |
Bond Anticipation Notes
("BANs") are usually general obligations of state and local governmental
issuers which are sold to obtain interim financing for projects that will
eventually be funded through the sale of long-term debt obligations or
bonds. The ability of an issuer to meet its obligations on its BANs is
primarily dependent on the issuer's access to the long-term municipal bond
market and the likelihood that the proceeds of such bond sales will be
used to pay the principal and interest on the
BANs. |
• |
Tax Anticipation Notes
("TANs") are issued by state and local governments to finance the current
operations of such governments. Repayment is generally to be derived from
specific future tax revenues. TANs are usually general obligations of the
issuer. A weakness in an issuer's capacity to raise taxes due to, among
other things, a decline in its tax base or a rise in delinquencies, could
adversely affect the issuer's ability to meet its obligations on
outstanding TANs. |
• |
Revenue Anticipation Notes
("RANs") are issued by governments or governmental bodies with the
expectation that future revenues from a designated source will be used to
repay the notes. In general they also constitute general obligations of
the issuer. A decline in the receipt of projected revenues, such as
anticipated revenues from another level of government, could adversely
affect an issuer's ability to meet its obligations on outstanding RANs. In
addition, the possibility that the revenues would, when received, be used
to meet other obligations could affect the ability of the issuer to pay
the principal and interest on RANs. |
• |
Construction Loan Notes are
issued to provide construction financing for specific projects. Permanent
financing, the proceeds of which are applied to the payment of
construction loan notes, is sometimes provided by a commitment by the
Government National Mortgage Association ("GNMA") to purchase the loan,
accompanied by a commitment by the Federal Housing Administration to
insure mortgage advances thereunder. In other instances, permanent
financing is provided by commitments of banks to purchase the loan. The
California Municipal and Tax-Exempt Bond Funds will only purchase
construction loan notes that are subject to GNMA or bank purchase
commitments. |
• |
Bank Notes are notes issued by
local governmental bodies and agencies such as those described above to
commercial banks as evidence of borrowings. The purposes for which the
notes are issued are varied but they are frequently issued to meet
short-term working-capital or capital-project needs. These notes may have
risks similar to the risks associated with TANs and
RANs. |
• |
Municipal Commercial Paper.
Municipal Commercial Paper refers to short-term obligations of
municipalities that may be issued at a discount and may be referred to as
Short-Term Discount Notes. Municipal Commercial Paper is likely to be used
to meet seasonal working capital needs of a municipality or interim
construction financing. Generally they are repaid from general revenues of
the municipality or refinanced with long-term debt. In most cases
Municipal Commercial Paper is backed by letters of credit, lending
agreements, note repurchase agreements or other credit facility agreements
offered by banks or other
institutions. |
• |
Variable and Floating Rate
Obligations. Certain Municipal Obligations, obligations issued or
guaranteed by the U.S. Government or its agencies or instrumentalities,
and debt instruments issued by domestic banks or corporations may carry
variable or floating rates of interest. Such instruments bear interest at
rates which are not fixed, but which vary with changes in specified market
rates or indices, such as a bank prime rate or tax-exempt money market
index. Variable rate notes are adjusted to current interest rate levels at
certain specified times, such as every 30 days. A floating rate note
adjusts automatically whenever there is a change in its base interest rate
adjustor, e.g., a change in the prime lending rate or specified interest
rate indices. Typically such instruments carry demand features permitting
the fund to redeem at par. |
• |
Stand-By Commitments. Funds
may acquire stand-by commitments with respect to municipal obligations
held in their respective portfolios. Under a stand-by commitment, a
broker-dealer, dealer, or bank would agree to purchase, at the relevant
funds' option, a specified municipal security at a specified price. Thus,
a stand-by commitment may be viewed as the equivalent of a put option
acquired by a fund with respect to a particular municipal security held in
the fund's portfolio. |
• |
Other Municipal Obligations.
Other kinds of Municipal Obligations are occasionally available in the
marketplace, and the fund may invest in such other kinds of obligations to
the extent consistent with its investment objective and limitations. Such
obligations may be issued for different purposes and with different
security than those mentioned above. |
• |
Risks of Municipal
Obligations. The yields on Municipal Obligations are dependent on a
variety of factors, including general economic and monetary conditions,
money market factors, conditions in the Municipal Obligations market, size
of a particular offering, maturity of the obligation, and rating of the
issue. The fund's ability to achieve its investment objective also depends
on the continuing ability of the issuers of the Municipal Obligations in
which it invests to meet their obligation for the payment of interest and
principal when due. |
• |
Traditional Preferred
Securities. Traditional preferred securities may be issued by an entity
taxable as a corporation and pay fixed or floating rate dividends.
However, these claims are subordinated to more senior creditors, including
senior debt holders. “Preference” means that a company must pay dividends
on its preferred securities before paying any dividends on its common
stock, and the claims of preferred securities holders are ahead of common
stockholders’ claims on assets in a corporate liquidation. Holders of
preferred securities usually have no right to vote for corporate directors
or on other matters. Preferred securities share many investment
characteristics with both common stock and
bonds. |
• |
Hybrid or Trust Preferred
Securities. Hybrid-preferred securities are debt instruments that have
characteristics similar to those of traditional preferred securities
(characteristics of both subordinated debt and preferred stock). Hybrid
preferred securities may be issued by corporations, generally in the form
of interest-bearing instruments with preferred securities characteristics,
or by an affiliated trust or partnership of the corporation, generally in
the form of preferred interests in subordinated business trusts or
similarly structured securities. The hybrid-preferred securities market
consists of both fixed and adjustable coupon rate securities that are
either perpetual in nature or have stated maturity dates. Hybrid preferred
holders generally have claims to assets in a corporate liquidation that
are senior to those of traditional preferred securities but subordinate to
those of senior debt holders. Certain subordinated debt and senior debt
issues that have preferred characteristics are also considered to be part
of the broader preferred securities
market. |
• |
Preferred Securities -
Generally. Preferred securities include: traditional preferred securities,
hybrid-preferred securities, $25 hybrid preferred securities, U.S.
dividend received deduction (“DRD”) preferred stock, fixed rate and
floating rate adjustable preferred securities, step-up preferred
securities, public and 144A $1000 par capital securities including U.S.
agency subordinated debt issues, upper tier 2 fixed and floating rate
capital securities, contingent convertible instruments, trust originated
preferred securities, monthly income preferred securities, quarterly
income bond securities, quarterly income debt securities, quarterly income
preferred securities, corporate trust securities, public income notes, and
other trust preferred securities. |
Fund |
2013
Turnover |
2012
Turnover |
Comments |
Principal LifeTime
2040 |
30.1% |
12.5% |
The portfolio management team
for the Principal LifeTime Funds changed several underlying equity funds
in 2013 which resulted in higher turnover than in 2012. |
Principal LifeTime
2045 |
23.3% |
8.1% |
The portfolio management team
for the Principal LifeTime Funds changed several underlying equity funds
in 2013 which resulted in higher turnover than in 2012. |
Principal LifeTime
2050 |
29.5% |
10.5% |
The portfolio management team
for the Principal LifeTime Funds changed several underlying equity funds
in 2013 which resulted in higher turnover than in 2012. |
Principal LifeTime
2055 |
29.1% |
15.1% |
The portfolio management team
for the Principal LifeTime Funds changed several underlying equity funds
in 2013 which resulted in higher turnover than in 2012. |
Principal LifeTime Strategic
Income |
14.6% |
31.1% |
The portfolio management team
for the Principal LifeTime Funds made changes to several underlying funds
in 2012 which resulted in higher turnover in 2012 than in
2013. |
Name,
Address,
and Year of
Birth |
Position(s)
Held
with
Fund |
Length
of
Time
Served
as
Director |
Principal
Occupation(s)
During Past
5 Years |
Number
of
Portfolios
in
Fund
Complex
Overseen
by
Director |
Other
Directorships
Held by
Director During Past 5 Years |
Elizabeth
Ballantine
655 9th Street
Des Moines, IA
50392
1948 |
Director
Member Nominating and
Governance Committee |
Since 2004 |
Principal, EBA
Associates
(consulting and
investments) |
104 |
Durango Herald,
Inc.;
McClatchy Newspapers,
Inc. |
Leroy T. Barnes,
Jr.
655 9th Street
Des Moines, IA 50392 1951 |
Director
Member Audit
Committee |
Since 2012 |
Retired
|
104 |
McClatchy Newspapers, Inc.;
Herbalife Ltd.; Frontier Communications, Inc.;
Longs Drug
Stores |
Craig Damos
655 9th Street
Des Moines, IA 50392 1954 |
Director
Member 15(c)
Committee
Member Audit Committee
|
Since 2008 |
President, The Damos Company
(consulting services). Formerly Chairman/CEO/ President and Vertical
Growth Officer, and The Weitz Company (general
construction) |
104 |
Hardin
Construction |
Mark A. Grimmett
655 9th Street
Des Moines, IA 50392 1960 |
Director
Member 15(c)
Committee
Member Executive
Committee
Member Nominating and
Governance Committee |
Since 2004 |
Executive Vice President and
CFO, Merle Norman Cosmetics, Inc. (cosmetics
manufacturing) |
104 |
None |
Fritz S. Hirsch
655 9th Street
Des Moines, IA 50392 1951 |
Director
Member 15(c)
Committee
Member Operations
Committee |
Since 2005 |
CEO, MAM USA (manufacturer of
infant and juvenile products). Formerly President, Sassy,
Inc.
(manufacturer of infant and
juvenile products) |
104 |
Focus Products Group
(housewares) |
Tao Huang
655 9th Street
Des Moines, IA 50392 1962 |
Director
Member 15(c)
Committee
Member Operations
Committee |
Since 2012 |
Formerly, Chief Operating
Officer, Morningstar, Inc. (investment research) |
104 |
Armstrong World Industries,
Inc. (manufacturing) |
William C. Kimball
655 9th Street
Des Moines, IA 50392 1947 |
Director
Member Nominating and
Governance Committee |
Since 2000 |
Partner, Kimball – Porter
Investments L.L.C. |
104 |
Casey's General
Stores |
Daniel Pavelich
655 9th Street
Des Moines, IA 50392 1944 |
Director
Member Audit
Committee |
Since 2007 |
Retired |
104 |
None |
Name,
Address,
and Year of
Birth |
Position(s)
Held
with
Fund |
Length
of
Time
Served
|
Positions
with the Manager
and its
affiliates;
Principal
Occupation(s)
During Past
5 Years**
(unless
noted otherwise) |
Number
of
Portfolios
in
Fund
Complex
Overseen
by
Director |
Other
Directorships
Held
by
Director
During Past
5
Years |
Michael J.
Beer
Des
Moines, IA 50392
1961
|
Director
Executive
Vice President
Member
Executive Committee |
Since
2012
Since
2001 |
Executive
Vice President, PFD
VP/Mutual
Funds & Broker Dealer, PLIC
Director,
PMC
EVP/Chief
Operating Officer, PMC
Director,
Princor
President,
Princor
Director,
PSS, (since 2011)
President,
PSS, (since 2011) |
104 |
None |
Nora M.
Everett
Des
Moines, IA 50392
1959 |
Chair
Chief
Executive Officer
President
Director
Member
Executive
Committee
|
Since
2012
Since
2010
Since
2008
Since
2008
|
Director, Edge
(2008-2011)
Director, Finisterre, (since
2011)
Chairman, PFA, (since
2010)
Chairman, PFD, (since
2011)
Senior Vice President/RIS,
PLIC
Chairman, PMC, (since
2011)
President, PMC, (since
2008)
Chairman, Princor, (since
2011)
Chief Executive Officer,
Princor, (since 2009)
Chairman, PSS, (since
2011) |
104 |
None |
Name,
Address
and Year of
Birth |
Position(s)
Held
with Fund
and
Length of
Time Served |
Positions
with the Manager and its Affiliates;
Principal
Occupations During Past 5 Years**
(unless
noted otherwise) |
Michael J. Beer Des Moines, IA 50392 1961 |
Director (since
2012) Executive Vice President (since 2001) Member Executive Committee |
Executive Vice President,
PFD VP/Mutual Funds & Broker Dealer, PLIC Director, PMC EVP/Chief Operating Officer, PMC Director, Princor President, Princor Director, PSS (since 2011) President, PSS (since 2011) |
Randy L. Bergstrom
Des Moines, IA 50392
1955 |
Assistant Tax
Counsel
(since 2005) |
Counsel, PGI
Counsel,
PLIC |
Name,
Address
and Year of
Birth |
Position(s)
Held
with Fund
and
Length of
Time Served |
Positions
with the Manager and its Affiliates;
Principal
Occupations During Past 5 Years**
(unless
noted otherwise) |
David J. Brown
Des Moines, IA 50392
1960 |
Chief Compliance
Officer
(since 2004) |
Senior Vice President,
PFD
Vice President/Compliance,
PLIC
Senior Vice President,
PMC
Senior Vice President,
Princor
Senior Vice President,
PSS |
Teresa M. Button
Des Moines, IA 50392
1963 |
Treasurer
(since 2011) |
Vice President/Treasurer, Edge
(since 2011)
Vice President/Treasurer, PFA
(since 2011)
Vice President/Treasurer, PFD
(since 2011)
Vice President/Treasurer, PGI
(since 2011)
Vice President/Treasurer, PLIC
(since 2011)
Vice President/Treasurer, PMC
(since 2011)
Vice President/Treasurer, Post
(since 2011)
Vice President/Treasurer,
Principal-REI (since 2011)
Vice President/Treasurer,
Princor (since 2011)
Vice President/Treasurer, PSS
(since 2011)
Treasurer, Spectrum (since
2011) |
Nora M.
Everett
Des
Moines, IA 50392
1959 |
Chair (since 2012)
Chief Executive Officer (since
2010)
President (since
2008)
Director (since
2008)
Member Executive
Committee
|
Director, Edge
(2008-2011)
Director, Finisterre (since
2011)
Chairman, PFA (since
2010)
Chairman, PFD (since
2011)
Senior Vice President/RIS,
PLIC
Chairman, PMC (since
2011)
President, PMC (since
2008)
Chairman, Princor (since
2011)
Chief Executive Officer,
Princor (since 2009)
Chairman, PSS (since
2011) |
Ernest H. Gillum
Des Moines, IA 50392
1955 |
Vice President (since
2000)
Assistant
Secretary
(since 1993) |
Vice President/Chief Compliance
Officer, PMC
Vice President/Chief Compliance
Officer, PSS |
Carolyn F. Kolks
Des Moines, IA 50392
1962 |
Assistant Tax Counsel
(since 2005) |
Counsel, PGI
Counsel,
PLIC |
Jennifer A. Mills
Des Moines, IA
50392
1973 |
Assistant Counsel
(since 2010) |
Counsel, PFD (2009-2013)
Counsel, PLIC Counsel, PMC (2009-2013, 2014-present) Counsel, Princor (2009-2013) Counsel, PSS (2009-2013) |
Layne A. Rasmussen
Des Moines, IA 50392
1958 |
Chief Financial Officer (since
2008)
Vice President (since
2005)
Controller (since
2000) |
Vice
President/Controller-Principal Funds, PMC |
Michael D. Roughton
Des Moines, IA 50392
1951 |
Counsel
(since 1990) |
Senior Vice President/Counsel,
PFA Senior Vice President/Counsel, PFD Vice President & Associate General Counsel, PLIC Senior Vice President/Counsel, PMC Senior Vice President/Counsel, Princor (2009-2013) Senior Vice President/Counsel, PSS |
Britney L.
Schnathorst
Des Moines, IA
50392
1981 |
Assistant Counsel
(since 2014) |
Counsel, PLIC (since
2013)
Prior thereto, Attorney in
Private Practice |
Adam U. Shaikh
Des Moines, IA 50392
1972 |
Assistant Counsel
(since 2006) |
Counsel, PFD (2006-2013)
Counsel, PLIC Counsel, PMC (2007-2013, 2014-present) Counsel, Princor (2007-2013) Counsel, PSS (2007-2013) |
Name,
Address
and Year of
Birth |
Position(s)
Held
with Fund
and
Length of
Time Served |
Positions
with the Manager and its Affiliates;
Principal
Occupations During Past 5 Years**
(unless
noted otherwise) |
Dan L. Westholm
Des Moines, IA 50392
1966 |
Assistant Treasurer
(since 2006) |
Assistant
Vice President/Treasury, PFA (since 2013)
Director-Treasury,
PFA (2011-2013)
Assistant
Vice President/Treasury, PFD (since 2013)
Director-Treasury,
PFD (2011-2013)
Assistant
Vice President/Treasury, PLIC
Assistant
Vice President/Treasury, PMC
Assistant
Vice President/Treasury, Princor (since 2013)
Director-Treasury, Princor
(2008-2009, 2011-2013)
Assistant Vice
President/Treasury, PSS |
Beth C. Wilson
Des Moines, IA 50392
1956 |
Vice President and Secretary
(since 2007) |
Vice President, PMC (2007-2013)
Vice President, Princor (2007-2009) |
Fund
|
Ballantine |
Barnes |
Damos |
Grimmett |
Hirsch |
Huang |
Kimball |
Pavelich |
Bond & Mortgage Securities
|
A |
A |
A |
D |
A |
A |
A |
A |
Diversified International
|
C |
A |
A |
A |
A |
A |
E |
A |
Diversified Real Asset
|
A |
A |
C |
D |
D |
A |
D |
A |
Equity Income |
A |
A |
C |
A |
A |
D |
E |
E |
Global Diversified Income
|
A |
E |
D |
A |
D |
A |
E |
A |
Global Multi-Strategy
|
A |
A |
A |
A |
A |
A |
D |
A |
Govt & High Quality Bond
|
A |
A |
D |
D |
A |
A |
A |
A |
High Yield |
A |
A |
D |
A |
D |
A |
E |
A |
Income |
A |
A |
C |
D |
C |
A |
A |
A |
Inflation
Protection |
A |
A |
A |
D |
A |
A |
A |
A |
International Emerging
Markets |
C |
A |
A |
A |
A |
A |
E |
A |
LargeCap Growth
|
A |
A |
A |
A |
A |
A |
D |
A |
LargeCap S&P 500 Index
|
A |
A |
A |
C |
A |
A |
A |
A |
MidCap |
A |
A |
E |
D |
A |
A |
E |
A |
Money Market |
A |
A |
A |
D |
A |
A |
C |
A |
Preferred Securities
|
A |
A |
C |
A |
C |
A |
E |
A |
Principal Capital Appreciation
|
C |
A |
A |
A |
A |
A |
E |
C |
Principal LifeTime 2010
|
A |
A |
A |
E |
A |
A |
A |
A |
Real Estate Securities
|
C |
A |
C |
A |
C |
C |
E |
A |
SAM Balanced |
A |
A |
A |
A |
C |
A |
A |
A |
SAM Flexible Income
|
A |
A |
D |
E |
E |
A |
A |
A |
SAM Strategic
Growth |
A |
A |
A |
A |
A |
A |
E |
A |
Short-Term Income
|
A |
A |
A |
D |
A |
A |
E |
A |
SmallCap Blend |
A |
A |
A |
D |
A |
C |
A |
A |
Tax-Exempt Bond
|
A |
A |
A |
A |
A |
A |
D |
A |
Total Fund
Complex |
E |
E |
E |
E |
E |
E |
E |
E |
Fund |
Beer |
Everett |
Global Multi-Strategy
|
C |
A |
MidCap |
C |
A |
Principal
Funds, Inc. (through participation in an Employee benefit plan) |
Beer |
Everett |
Diversified
International |
A |
E |
Equity Income |
C |
E |
International Emerging
Markets |
C |
C |
LargeCap Growth
|
A |
D |
LargeCap Growth I
|
B |
A |
LargeCap S&P 500 Index
|
C |
A |
MidCap |
C |
E |
MidCap Growth III
|
B |
A |
Money Market |
B |
A |
Total Fund
Complex |
E |
E |
Director |
The
Funds
In this
SAI |
Fund
Complex |
Elizabeth
Ballantine |
$151,062 |
$181,000 |
Leroy T. Barnes,
Jr. |
$155,236 |
$186,000 |
Craig Damos |
$157,322 |
$188,500 |
Mark A.
Grimmett |
$179,856 |
$215,500 |
Fritz Hirsch |
$156,069 |
$187,000 |
Tao Huang |
$152,317 |
$182,500 |
William C.
Kimball |
$156,905 |
$188,000 |
Daniel Pavelich |
$170,674 |
$204,500 |
Sub-Advisor: |
AllianceBernstein
L.P. ("AllianceBernstein") provides investment advisory
services. AXA, AXA Financial, Inc., AXA Equitable Life Insurance Company
("AXA Equitable"), and certain subsidiaries of AXA Equitable directly and
indirectly represent a controlling economic interest in AllianceBernstein.
|
Fund(s): |
a portion of the assets of
SmallCap Growth I |
Sub-Advisor: |
American
Century Investment Management, Inc. ("American Century") provides investment advisory
services and was founded in 1958. American Century is a direct,
wholly-owned subsidiary of American Century Companies, Inc. ("ACC").The
Stowers Institute for Medical Research ("SIMR") controls ACC by virtue of
its beneficial ownership of more than 25% of the voting securities of ACC.
SIMR is part of a not-for-profit biomedical research organization
dedicated to finding the keys to the causes, treatments and prevention of
disease. |
Fund(s): |
a portion of the assets of
LargeCap Growth II |
Sub-Advisor: |
Barrow,
Hanley, Mewhinney & Strauss, LLC ("BHMS") is an investment advisory
firm that was founded in 1979 and is a subsidiary of Old Mutual Asset
Management (US) LLC, which is a subsidiary of Old Mutual plc, based in
London, England. |
Fund(s): |
a portion of the assets of
LargeCap Value III, a portion of the assets of MidCap Value III, and a
portion of the assets of Overseas |
Sub-Advisor: |
BlackRock
Financial Management, Inc. (“BlackRock”) is a wholly owned subsidiary
of BlackRock Holdco 2, Inc., which is a wholly owned subsidiary of
BlackRock, Inc. BlackRock and its affiliates manage investment company and
other portfolio assets. |
Fund(s): |
Inflation
Protection |
Sub-Advisor: |
Brown
Advisory, LLC (“Brown”) is a registered investment
adviser and wholly-owned subsidiary of Brown Advisory Management,
LLC. |
Fund(s): |
a portion of the assets of
LargeCap Growth I and a portion of the assets of SmallCap Growth
I |
Sub-Advisor: |
Causeway
Capital Management LLC (“Causeway”) provides investment advisory
services to institutional clients and funds. Causeway’s controlling owners
are Sarah Ketterer and Harry Hartford. |
Fund(s): |
a portion of the assets of
Overseas |
Sub-Advisor: |
ClearBridge
Investments, LLC (“ClearBridge”) is registered as an
investment adviser under the Advisers Act. ClearBridge Investments, LLC is
a wholly-owned subsidiary of Legg Mason, Inc., a diversified group of
global asset management firms as well as a provider of distribution and
client-service. Legg Mason, Inc. was founded in 1899 as a brokerage
firm and has grown substantially since then.
|
Fund(s): |
a portion of the assets of
LargeCap Blend II |
Sub-Advisor: |
Colonial
First State Asset Management (Australia) Limited is 100% owned by Colonial
First State Group Limited, which is a wholly-owned subsidiary of
Commonwealth Bank of Australia (“CBA”). CBA was founded in 1911 and
is Australia's largest bank by market capitalization and provides
integrated financial services. |
Sub-Advisor: |
Columbus
Circle Investors (“CCI”) is an affiliate of PGI, which
is a member of the Principal Financial Group. CCI provides investment
advisory services and was founded in 1975.
|
Fund(s): |
LargeCap Growth, MidCap Growth
and a portion of the assets of SmallCap Growth
I |
Sub-Advisor:
|
DDJ Capital
Management, LLC (“DDJ”) a privately-owned
Massachusetts limited liability company, was founded in 1996. David
Breazzano, the firm’s co-founder, President and Chief Investment Officer,
is the largest equity owner and has voting control. In addition, Mr.
Breazzano serves as the sole manager of the LLC. Anthony Ranaldi,
the firm’s Executive Vice President and senior portfolio manager, is the
second largest equity owner and may also be deemed a control person under
applicable law. |
Fund(s):
|
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
Dimensional
Fund Advisors LP (“Dimensional”) is a registered investment
advisor. Dimensional is controlled and operated by its general partner,
Dimensional Holdings Inc., a Delaware
corporation. |
Fund(s): |
a portion of the assets of
SmallCap Value II |
Sub-Advisor: |
Edge Asset
Management, Inc. ("Edge") is an affiliate of Principal
and a member of the Principal Financial Group. Edge has been in the
business of investment management since 1944.
|
Fund(s): |
Equity Income, Government
& High Quality Bond, Income, Principal Capital Appreciation,
Short-Term Income, SAM Balanced Portfolio, SAM Conservative Balanced
Portfolio, SAM Conservative Growth Portfolio, SAM Flexible Income
Portfolio, and SAM Strategic Growth Portfolio
|
Sub-Advisor: |
Emerald
Advisers, Inc. (“Emerald”) is a wholly owned subsidiary
of Emerald Asset Management. Emerald provides professional investment
advisory services to institutional investors and the general public.
|
Fund(s):
|
a portion of the assets of
SmallCap Growth I |
Sub-Advisor: |
Goldman
Sachs Asset Management, L.P. ("GSAM") has been registered as an
investment adviser with the SEC since 1990 and is a subsidiary of The
Goldman Sachs Group, Inc. and an affiliate of Goldman Sachs & Co. The
Goldman Sachs Group, Inc., founded in 1869, is a global financial services
company that serves a variety of clients. |
Sub-Advisor: |
Guggenheim
Partners Investment Management, LLC (“GPIM” or “Guggenheim”) was founded in 2012.
GPIM was formed by the consolidation of Guggenheim Investment
Management, LLC (“GIM”), founded in 2001, with its SEC registered
investment adviser affiliate Guggenheim Partners Asset Management, LLC
(“GPAM”), founded in 2005. The legal entity consolidation and name
change was completed on June 30, 2012. GPIM is controlled by
Guggenheim Capital, LLC, a privately held financial services firm that was
founded in 1999. |
Fund(s): |
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
Herndon
Capital Management, LLC provides investment advisory
services. Atlanta Life Financial Group, a privately owned financial
services company, owns 55% of Herndon Capital Management,
LLC. |
Fund(s): |
a portion of the assets of
LargeCap Value I |
Sub-Advisor: |
J.P. Morgan
Investment Management Inc. ("J.P. Morgan") is an indirect wholly owned
subsidiary of JPMorgan Chase & Co. ("J.P. Morgan"), a bank holding
company. J.P. Morgan offers a wide range of services to governmental,
institutional, corporate, and individual customers and acts as investment
advisor to individual and institutional
clients. |
Fund(s): |
a portion of the assets of
High Yield I |
Sub-Advisor: |
Los Angeles
Capital Management and Equity Research, Inc. ("Los Angeles
Capital"), a
registered investment adviser, is a California Subchapter S corporation
founded in 2002 and is wholly-owned by its working principals. Los Angeles
Capital offers risk-controlled, active equity management services to a
broad range of institutional investors. Thomas D. Stevens, Chairman and
President, and Hal W. Reynolds, Chief Investment Officer, hold the
controlling equity interest in the firm. |
Fund(s): |
a portion of the assets of
MidCap Value I and a portion of the assets of SmallCap Value
II |
Sub-Advisor: |
Montag
& Caldwell, LLC (“M&C”) is an employee owned
registered investment adviser which on September 24, 2010 succeeded the
business of Montag & Caldwell, Inc., a registered investment adviser
founded in 1945. |
Fund(s): |
a portion of the assets of
LargeCap Growth II |
Sub-Advisor: |
Neuberger
Berman Fixed Income LLC (“Neuberger Berman”) is an investment adviser
registered with the SEC. Neuberger Berman is a direct subsidiary of
Neuberger Berman Fixed Income Holdings LLC, and an indirect wholly owned
subsidiary of Neuberger Berman Group LLC (“NBG”).
|
Sub-Advisor: |
Origin
Asset Management LLP (“Origin”) is an indirect majority-owned
subsidiary of Principal Life, an affiliate of Principal, and a member of
the Principal Financial Group. |
Fund(s): |
International Fund
I |
Sub-Advisor: |
Pacific
Investment Management Company LLC (“PIMCO”) is a majority-owned
subsidiary of Allianz Asset Management with a minority interest held by
PIMCO Partners, LLC, a California limited liability company. Prior to
December 31, 2011, Allianz Asset Management was named Allianz Global
Investors of America L.P. PIMCO Partners, LLC is owned by the current
managing directors and executive management of PIMCO. Through various
holding company structures, Allianz Asset Management is majority owned by
Allianz SE. |
Fund(s): |
Core Plus Bond
I |
Sub-Advisor: |
Post
Advisory Group, LLC (“Post”) is an indirect wholly owned
subsidiary of Principal Life, an affiliate of Principal, and a member of
the Principal Financial Group. |
Fund(s): |
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
Principal
Global Investors, LLC (“PGI”) is an indirect wholly owned
subsidiary of Principal Life Insurance Company, an affiliate of Principal,
and a member of the Principal Financial Group. PGI manages equity,
fixed-income, and real estate investments primarily for institutional
investors, including Principal Life. PGI’s headquarters is in Des Moines,
IA. Its other primary asset management office is in New York, with asset
management offices of affiliate advisors in several non-U.S. locations
including London, Sydney and Singapore. |
Fund(s): |
Bond & Mortgage
Securities, California Municipal, Diversified International, High Yield,
International Emerging Markets, LargeCap S&P 500 Index, LargeCap
Value, MidCap, MidCap S&P 400 Index, Money Market, Principal LifeTime
Strategic Income, Principal LifeTime 2010, Principal LifeTime 2015,
Principal LifeTime 2020, Principal LifeTime 2025, Principal LifeTime 2030,
Principal LifeTime 2035, Principal LifeTime 2040, Principal LifeTime 2045,
Principal LifeTime 2050, Principal LifeTime 2055, Principal LifeTime 2060,
SmallCap Blend, SmallCap S&P 600 Index, Tax-Exempt Bond, a portion of
the assets of Global Diversified Income, and a portion of the assets of
MidCap Value III |
Sub-Advisor: |
Principal
Real Estate Investors, LLC ("Principal - REI"), an indirect wholly owned
subsidiary of Principal Life, an affiliate of Principal, and a member of
the Principal Financial Group, was founded in 2000. It manages investments
for institutional investors, including Principal Life.
|
Fund(s): |
Global Real Estate Securities,
Real Estate Securities, and a portion of the assets of Global Diversified
Income |
Sub-Advisor: |
Robert W.
Baird & Co. Incorporated (“Baird”) provides investment advisory
services. Baird is owned directly by Baird Financial Corporation (“BFC”).
BFC is, in turn, owned by Baird Holding Company (“BHC”). BHC is owned by
Baird Financial Group, Inc. (“BFG”), which is the ultimate parent company
of Baird. Employees of Baird own substantially all of the outstanding
stock of BFG. |
Sub-Advisor: |
Spectrum
Asset Management, Inc. ("Spectrum") is an indirect subsidiary of
Principal Life, an affiliate of PGI and a member of the Principal
Financial Group. Spectrum provides investment advisory services and was
founded in 1987. |
Sub-Advisor: |
Stone
Harbor Investment Partners LP (“Stone Harbor”) provides investment advisory
services and is 100% employee owned. Stone Harbor Investment Partners GP
LLC, Ship Capital Partners LP, and Peter John Wilby are control persons of
Stone Harbor. |
Fund(s): |
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
T. Rowe
Price Associates, Inc. ("T. Rowe Price"), a wholly owned subsidiary of
T. Rowe Price Group, Inc., a financial services holding company, has over
75 years of investment management experience.
|
Fund(s): |
a portion of the assets of
LargeCap Blend II and a portion of the assets of LargeCap Growth
I |
Sub-Advisor: |
Thompson,
Siegel & Walmsley LLC (“TS&W”) is a limited liability
company and a SEC registered investment advisor founded in 1969. TS&W
offers investment advisory services to governmental, institutional,
corporate and individual clients. TS&W is a majority owned subsidiary
of Old Mutual (US) Holdings Inc., a subsidiary of Old Mutual plc, a
financial service company. |
Fund(s): |
a portion of the assets of
LargeCap Value I |
Sub-Advisor: |
Tortoise
Capital Advisors, L.L.C. (“Tortoise”) was formed in October 2002.
Tortoise provides energy infrastructure investment management services to
individual and institutional investors. Tortoise is managed by its five
founding managing directors and is wholly-owned by Tortoise Holdings, LLC.
Montage Investments, LLC (“Montage”), a registered investment adviser,
owns a majority interest in Tortoise Holdings, LLC. Montage is
wholly-owned by Mariner Holdings, LLC, a global financial services firm
with affiliates focused on wealth and asset management. The remaining
interests in Tortoise Holdings, LLC are held by Tortoise's five founding
managing directors and certain other senior Tortoise
employees. |
Fund(s): |
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
Vaughan
Nelson Investment Management, LP ("Vaughan Nelson") provides investment advisory
services. Founded in 1970, Vaughan Nelson is a subsidiary of Natixis
Global Asset Management, L.P. |
Fund(s): |
a portion of the assets of
SmallCap Value II |
Sub-Advisor: |
W. H.
Reaves & Co., Inc. (doing business as Reaves Asset
Management) is a
professional investment management firm registered with the SEC. The firm
was established in 1961 and offers investment management services for
institutions including corporations, foundations, endowments, government
entities and high net worth individuals. |
Fund(s): |
a portion of the assets of
Global Diversified Income |
Sub-Advisor: |
Westwood
Management Corp. ("Westwood"), a New York corporation
formed in 1983, is a wholly owned subsidiary of Westwood Holdings Group,
Inc., an institutional asset management company.
|
Sub-Advisor: |
William
Blair & Company, L.L.C. (“William Blair”) is a limited liability company
that is 100% owned by WBC Holdings, L.P., a limited partnership. The
affairs of William Blair are controlled by the general partner of WBC
Holdings, L.P., WBC GP, L.L.C., which in turn, is controlled by the
Executive Committee. The Executive Committee is comprised of John R.
Ettelson, Brent W. Gledhill, W. George Greig, Richard P. Kiphart, John C.
Moore, Michelle R. Seitz and Arthur J.
Simon. |
Fund |
First
$500
Million |
Next
$500
Million |
Next
$500
Million |
Over
$1.5
Billion |
Global Real Estate
Securities |
0.90% |
0.88% |
0.86% |
0.85% |
Inflation
Protection |
0.40 |
0.38 |
0.36 |
0.35 |
LargeCap Blend
II |
0.75 |
0.73 |
0.71 |
0.70 |
MidCap Growth |
0.65 |
0.63 |
0.61 |
0.60 |
MidCap Growth
III |
1.00 |
0.96 |
0.94 |
0.92 |
MidCap Value
III |
0.65 |
0.63 |
0.61 |
0.60 |
SmallCap Blend |
0.75 |
0.73 |
0.71 |
0.70 |
SmallCap Value
II |
1.00 |
0.98 |
0.96 |
0.95 |
Tax-Exempt Bond |
0.45 |
0.43 |
0.41 |
0.40 |
Fund |
All
Assets |
Principal LifeTime Strategic
Income |
0.03% |
Principal LifeTime
2010 |
0.03 |
Principal LifeTime
2015 |
0.03 |
Principal LifeTime
2020 |
0.03 |
Principal LifeTime
2025 |
0.03 |
Principal LifeTime
2030 |
0.03 |
Principal LifeTime
2035 |
0.03 |
Principal LifeTime
2040 |
0.03 |
Principal LifeTime
2045 |
0.03 |
Principal LifeTime
2050 |
0.03 |
Principal LifeTime
2055 |
0.03 |
Principal LifeTime
2060 |
0.03 |
Fund |
First
$500
million |
Next
$500
million |
Next
$500
million |
Next
$500
million |
Next
$1
billion |
Over
$3
billion |
Bond & Mortgage
Securities |
0.55% |
0.53% |
0.51% |
0.50% |
0.48% |
0.45% |
Diversified
International |
0.90 |
0.88 |
0.86 |
0.85 |
0.83 |
0.80 |
Global Diversified
Income |
0.80 |
0.78 |
0.76 |
0.75 |
0.73 |
0.70 |
High Yield I |
0.65 |
0.63 |
0.61 |
0.60 |
0.59 |
0.58 |
International I |
0.90 |
0.88 |
0.86 |
0.85 |
0.84 |
0.83 |
International Emerging
Markets |
1.20 |
1.18 |
1.16 |
1.15 |
1.14 |
1.13 |
LargeCap Growth
I |
0.66 |
0.64 |
0.62 |
0.61 |
0.60 |
0.59 |
LargeCap Growth
II |
0.89 |
0.87 |
0.85 |
0.84 |
0.83 |
0.82 |
LargeCap Value |
0.45 |
0.43 |
0.41 |
0.40 |
0.39 |
0.38 |
LargeCap Value
I |
0.80 |
0.78 |
0.76 |
0.75 |
0.74 |
0.73 |
LargeCap Value
III |
0.80 |
0.78 |
0.76 |
0.75 |
0.73 |
0.70 |
MidCap |
0.65 |
0.63 |
0.61 |
0.60 |
0.59 |
0.58 |
MidCap Value I |
1.00 |
0.98 |
0.96 |
0.95 |
0.94 |
0.93 |
Money Market |
0.40 |
0.39 |
0.38 |
0.37 |
0.36 |
0.35 |
Overseas |
1.10 |
1.08 |
1.06 |
1.05 |
1.04 |
1.03 |
Real Estate
Securities |
0.85 |
0.83 |
0.81 |
0.80 |
0.79 |
0.78 |
SmallCap Growth
I |
1.10 |
1.08 |
1.06 |
1.05 |
1.04 |
1.03 |
Fund |
First
$1
billion |
Over
$1
billion |
California
Municipal |
0.45% |
0.40% |
Fund |
First
$500
million |
Next
$500
million |
Next
$500
million |
Next
$500
million |
Next
$500
million |
Over
$2.5
billion |
Core Plus Bond
I |
0.60% |
0.58% |
0.56% |
0.55% |
0.53% |
0.50% |
First
$250
million |
Next
$250
million |
Over
$500
million | |
Equity Income |
0.60% |
0.55% |
0.50% |
Fund |
First
$2
billion |
Over
$2
billion |
Government & High Quality
Bond |
0.50% |
0.45% |
Fund |
First
$250
million |
Over
$250
million |
High Yield |
0.625% |
0.50% |
First
$2
billion |
Next
$1
billion |
Over
$3
billion | |
Income |
0.50% |
0.44% |
0.43% |
Fund |
First
$500
million |
Next
$500
million |
Next
$1
billion |
Next
$1
billion |
Over
$3
billion |
LargeCap Growth |
0.68% |
0.65% |
0.62% |
0.58% |
0.55% |
Fund |
All
Assets |
LargeCap S&P 500
Index |
0.15% |
MidCap S&P 400
Index |
0.15 |
SmallCap S&P 600
Index |
0.15 |
Fund |
First
$500
million |
Next
$500
million |
Over
$1
billion |
Principal Capital
Appreciation |
0.625% |
0.50% |
0.375% |
Fund |
First
$500
million |
Next
$500
million |
Next
$1
billion |
Next
$1
billion |
Next
$1
billion |
Next
$1
billion |
Next
$9
billion |
Over
$14
billion |
SAM Balanced* |
0.55% |
0.50% |
0.45% |
0.40% |
0.35% |
0.30% |
0.25% |
0.20% |
SAM Conservative
Balanced* |
0.55 |
0.50 |
0.45 |
0.40 |
0.35 |
0.30 |
0.25 |
0.20 |
SAM Conservative
Growth* |
0.55 |
0.50 |
0.45 |
0.40 |
0.35 |
0.30 |
0.25 |
0.20 |
SAM Flexible
Income* |
0.55 |
0.50 |
0.45 |
0.40 |
0.35 |
0.30 |
0.25 |
0.20 |
SAM Strategic
Growth* |
0.55 |
0.50 |
0.45 |
0.40 |
0.35 |
0.30 |
0.25 |
0.20 |
*Breakpoints are based on
aggregate SAM Portfolio net assets. |
Fund |
First
$200
million |
Next
$300
million |
Over
$500
million |
Short-Term
Income |
0.50% |
0.45% |
0.40% |
Fund |
Class
A |
Class
B |
Class
C |
Class
J |
Institutional
Class |
Expiration | |||||
Bond & Mortgage Securities
Fund |
0.88 |
% |
1.60 |
% |
1.75 |
% |
N/A |
|
N/A |
|
2/28/2015 |
California Municipal
Fund |
N/A |
|
1.82 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Diversified International
Fund |
N/A |
|
2.47 |
% |
2.08 |
% |
N/A |
|
N/A |
|
2/28/2015 |
Equity Income
Fund |
N/A |
|
1.97 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Global Real Estate Securities
Fund |
1.45 |
% |
N/A |
|
2.20 |
% |
N/A |
|
1.00 |
% |
2/28/2015 |
Government & High Quality
Bond Fund |
0.88 |
% |
1.65 |
% |
1.63 |
% |
1.00 |
% |
N/A |
|
2/28/2015 |
High Yield Fund |
N/A |
|
1.92 |
% |
N/A |
|
N/A |
|
0.61 |
% |
2/28/2015 |
High Yield Fund
I |
1.05 |
% |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Income Fund |
N/A |
|
1.90 |
% |
N/A |
|
1.10 |
% |
N/A |
|
2/28/2015 |
Inflation Protection
Fund |
0.90 |
% |
N/A |
|
1.65 |
% |
1.15 |
% |
N/A |
|
2/28/2015 |
International Emerging Markets
Fund |
1.78 |
% |
2.78 |
% |
2.80 |
% |
N/A |
|
N/A |
|
2/28/2015 |
International Fund
I |
1.45% |
|
N/A |
|
N/A |
|
N/A |
|
N/A |
|
2/28/2016 |
LargeCap Growth
Fund |
N/A |
|
2.25 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
LargeCap Growth Fund
I |
1.25 |
% |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
2/28/2016 |
LargeCap S&P 500 Index
Fund |
N/A |
|
N/A |
|
1.30 |
% |
N/A |
|
N/A |
|
2/28/2015 |
LargeCap Value
Fund |
N/A |
|
2.00 |
% |
1.70 |
% |
N/A |
|
N/A |
|
2/28/2015 |
MidCap Fund |
N/A |
|
2.09 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
MidCap Growth
Fund |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
0.75 |
% |
2/28/2015 |
MidCap S&P 400 Index
Fund |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
0.25 |
% |
2/28/2015 |
MidCap Value Fund
III |
1.30% |
|
N/A |
|
N/A |
|
N/A |
|
0.736 |
% |
2/28/2016 |
Money Market
Fund |
N/A |
|
1.55 |
% |
1.79 |
% |
N/A |
|
N/A |
|
2/28/2015 |
Principal Capital
Appreciation |
N/A |
|
1.99 |
% |
1.82 |
% |
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2010
Fund |
0.41 |
% |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2020
Fund |
0.41 |
% |
1.16 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2030
Fund |
0.41 |
% |
1.16 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2040
Fund |
0.41 |
% |
1.16 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2050
Fund |
0.41 |
% |
1.16 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Principal LifeTime 2055
Fund |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
0.13 |
% |
2/28/2015 |
Principal LifeTime 2060
Fund |
N/A |
|
N/A |
|
N/A |
|
0.41 |
% |
0.13 |
% |
2/28/2015 |
Principal LifeTime Strategic
Income Fund |
0.41 |
% |
1.16 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
Real Estate Securities
Fund |
N/A |
|
2.20 |
% |
2.20 |
% |
N/A |
|
N/A |
|
2/28/2015 |
SAM Balanced
Portfolio |
N/A |
|
1.70 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
SAM Conservative Balanced
Portfolio |
0.63 |
% |
1.38 |
% |
1.38 |
% |
0.63 |
% |
N/A |
|
2/28/2015 |
SAM Conservative Growth
Portfolio |
N/A |
|
1.71 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
SAM Flexible Income
Portfolio |
N/A |
|
1.69 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
SAM Strategic Growth
Portfolio |
N/A |
|
1.75 |
% |
N/A |
|
N/A |
|
N/A |
|
2/28/2015 |
SmallCap Blend
Fund |
1.35 |
% |
2.29 |
% |
2.08 |
% |
N/A |
|
0.80 |
% |
2/28/2015 |
SmallCap S&P 600 Index
Fund |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
0.25 |
% |
2/28/2015 |
SmallCap Value Fund
II |
1.45% |
|
N/A |
|
N/A |
|
N/A |
|
N/A |
|
2/28/2016 |
Tax-Exempt Bond
Fund |
N/A |
|
1.60 |
% |
1.60 |
% |
N/A |
|
N/A |
|
2/28/2015 |
Fund |
R-1
Class |
R-2
Class |
R-3
Class |
R-4
Class |
R-5
Class |
Expiration | |||||
Government & High Quality
Bond Fund |
1.29 |
% |
1.16 |
% |
0.98 |
% |
0.79 |
% |
0.67 |
% |
02/28/2015 |
Principal LifeTime 2055
Fund |
0.96 |
% |
0.83 |
% |
0.65 |
% |
0.46 |
% |
0.34 |
% |
02/28/2015 |
Principal LifeTime 2060
Fund |
0.96 |
% |
0.83 |
% |
0.65 |
% |
0.46 |
% |
0.34 |
% |
02/28/2015 |
Short-Term Income
Fund |
1.30 |
% |
1.18 |
% |
0.99 |
% |
0.79 |
% |
0.68 |
% |
02/28/2015 |
Fund |
Waiver |
Expiration | |
LargeCap Blend Fund
II |
0.018 |
% |
2/28/2015 |
LargeCap Growth Fund
I |
0.016 |
% |
2/28/2016 |
LargeCap Growth Fund
II |
0.014 |
% |
2/28/2015 |
LargeCap Value Fund
I |
0.014 |
% |
2/28/2015 |
LargeCap Value Fund
III |
0.012 |
% |
2/28/2015 |
MidCap Growth Fund
III |
0.022 |
% |
2/28/2015 |
MidCap Value Fund
I |
0.06 |
% |
2/28/2015 |
MidCap Value Fund
III |
0.014 |
% |
2/28/2016 |
Overseas Fund |
0.03 |
% |
2/28/2015 |
SmallCap Growth Fund
I |
0.072 |
% |
2/28/2016 |
SmallCap Value Fund
II |
0.024 |
% |
2/28/2016 |
In addition, for all Funds
except the International Fund I, LargeCap Growth Fund I, LargeCap Value
Fund, MidCap Value Fund III, SmallCap Blend Fund, and SmallCap Value Fund
II, Principal Management Corp. has contractually agreed to limit the
expenses identified as "Other Expenses" related to Class P shares by
paying, if necessary, expenses normally payable by the Fund, (excluding
interest expense, expenses related to fund investments, acquired fund fees
and expenses, and other extraordinary expenses) through the period ending
February 28, 2015. The expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.20%. |
In addition, for the
International Fund I, LargeCap Growth Fund I, LargeCap Value Fund, MidCap
Value Fund III, SmallCap Blend Fund, and SmallCap Value Fund II, Principal
Management Corp. has contractually agreed to limit the expenses identified
as "Other Expenses" related to Class P shares by paying, if necessary,
expenses normally payable by the Fund, (excluding interest expense,
expenses related to fund investments, acquired fund fees and expenses, and
other extraordinary expenses) through the period ending February 28, 2016.
The expense limit will maintain "Other Expenses" (expressed as a percent
of average net assets on an annualized basis) not to exceed
0.20%. |
Fund |
Class
J |
Bond & Mortgage
Securities |
0.99% |
Short-Term
Income |
1.00% |
Management
Fees for Periods Ended October 31
(amounts
in thousands) | ||||||
Fund |
2013 |
2012 |
2011 | |||
Bond & Mortgage Securities
Fund |
12,099 |
|
11,075 |
|
10,239 |
|
California Municipal
Fund |
963 |
|
1,004 |
|
1,123 |
|
Core Plus Bond Fund
I |
18,566 |
|
18,003 |
|
16,274 |
|
Diversified International
Fund |
35,602 |
|
25,949 |
|
17,290 |
|
Equity Income
Fund |
24,568 |
|
19,962 |
|
16,995 |
|
Global Diversified Income
Fund |
52,869 |
|
28,468 |
|
17,024 |
|
Global Real Estate Securities
Fund |
11,889 |
|
6,316 |
|
1,673 |
|
Government & High Quality
Bond Fund |
9,482 |
|
9,009 |
|
8,415 |
|
High Yield Fund |
19,631 |
|
18,370 |
|
16,973 |
|
High Yield Fund
I |
8,804 |
|
8,532 |
|
9,066 |
|
Income Fund |
11,961 |
|
9,740 |
|
7,318 |
|
Inflation Protection
Fund |
3,279 |
|
3,081 |
|
2,948 |
|
International Emerging Markets
Fund |
19,439 |
|
18,067 |
|
18,968 |
|
International Fund
I |
8,044 |
|
10,770 |
|
15,298 |
|
LargeCap Blend Fund
II |
7,496 |
|
7,586 |
|
7,527 |
|
LargeCap Growth
Fund |
16,617 |
|
14,960 |
|
15,148 |
|
LargeCap Growth Fund
I |
35,317 |
|
24,969 |
|
19,921 |
|
LargeCap Growth Fund
II |
10,872 |
|
10,279 |
|
10,619 |
|
LargeCap S&P 500 Index
Fund |
4,862 |
|
3,895 |
|
3,677 |
|
LargeCap Value
Fund |
9,509 |
|
7,051 |
|
6,092 |
|
LargeCap Value Fund
I |
16,490 |
|
16,127 |
|
16,401 |
|
LargeCap Value Fund
III |
6,828 |
|
7,904 |
|
11,123 |
|
MidCap Fund |
32,428 |
|
16,227 |
|
9,618 |
|
MidCap Growth
Fund |
699 |
|
721 |
|
854 |
|
MidCap Growth Fund
III |
14,649 |
|
14,232 |
|
15,801 |
|
MidCap S&P 400 Index
Fund |
1,119 |
|
780 |
|
643 |
|
MidCap Value Fund
I |
15,268 |
|
15,124 |
|
15,164 |
|
MidCap Value Fund
III |
3,097 |
|
600 |
|
628 |
|
Money Market
Fund |
4,581 |
|
4,804 |
|
5,141 |
|
Overseas Fund |
21,368 |
|
15,787 |
|
15,007 |
|
Principal Capital Appreciation
Fund |
9,232 |
|
8,319 |
|
7,101 |
|
Principal LifeTime 2010
Fund |
507 |
|
504 |
|
524 |
|
Principal LifeTime 2015
Fund |
272 |
|
214 |
|
177 |
|
Principal LifeTime 2020
Fund |
1,794 |
|
1,588 |
|
1,501 |
|
Principal LifeTime 2025
Fund |
371 |
|
262 |
|
202 |
|
Principal LifeTime 2030
Fund |
1,711 |
|
1,466 |
|
1,364 |
|
Principal LifeTime 2035
Fund |
252 |
|
172 |
|
129 |
|
Principal LifeTime 2040
Fund |
1,064 |
|
885 |
|
807 |
|
Principal LifeTime 2045
Fund |
135 |
|
87 |
|
60 |
|
Principal LifeTime 2050
Fund |
485 |
|
378 |
|
340 |
|
Principal LifeTime 2055
Fund |
26 |
|
14 |
|
9 |
|
Principal LifeTime 2060
Fund |
– |
|
– |
|
– |
|
Principal LifeTime Strategic
Income Fund |
238 |
|
220 |
|
201 |
|
Real Estate Securities
Fund |
12,878 |
|
13,331 |
|
14,083 |
|
SAM Balanced
Portfolio |
13,123 |
|
11,547 |
|
11,175 |
|
SAM Conservative Balanced
Portfolio |
4,253 |
|
3,484 |
|
2,977 |
|
SAM Conservative Growth
Portfolio |
8,735 |
|
7,813 |
|
7,894 |
|
SAM Flexible Income
Portfolio |
5,308 |
|
4,250 |
|
3,516 |
|
SAM Strategic Growth
Portfolio |
5,419 |
|
4,889 |
|
5,033 |
|
Short-Term Income
Fund |
7,135 |
|
5,589 |
|
4,496 |
|
SmallCap Blend
Fund |
3,092 |
|
2,423 |
|
1,688 |
|
SmallCap Growth Fund
I |
17,613 |
|
14,679 |
|
14,160 |
|
SmallCap S&P 600 Index
Fund |
1,061 |
|
760 |
|
659 |
|
SmallCap Value Fund
II |
12,472 |
|
10,387 |
|
10,051 |
|
Tax-Exempt Bond
Fund |
1,141 |
|
1,123 |
|
1,148 |
|
Net Asset
Value of Fund | |||||||||
Fund |
First
$50
million |
Next
$50
million |
Next
$100
million |
Next
$200
million |
Next
$350
million |
Next
$750
million |
Next
$500
million |
Next
$2.5
billion |
Over
$4.5
billion |
LargeCap Growth |
0.2643% |
0.2448% |
0.2154% |
0.1762% |
0.1273% |
0.0881% |
0.0587% |
0.2448% |
0.1664% |
Net Asset
Value of Fund | |||||
Fund |
First
$25
million |
Next
$75
million |
Next
$100
million |
Next
$100
million |
Over$300
million |
MidCap Growth |
0.3916% |
0.3133% |
0.2643% |
0.2252% |
0.3427% |
Net Asset
Value of Fund | |
Fund |
All
Assets |
SmallCap Growth
I |
0.50% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Table
A
Net Asset
Value of Fund | ||||
Fund |
First
$5
billion |
Next
$1
billion |
Next
$4
billion |
Over
$10
billion |
Government & High Quality
Bond, Income and Short-Term Income |
0.1126% |
0.0979% |
0.0930% |
0.0881% |
Table
B
Net Asset
Value of Fund | |||||||
Fund |
First
$50
million |
Next
$50
million |
Next
$100
million |
Next
$200
million |
Next
$350
million |
Next
$750
million |
Over
$1.5
billion |
Equity Income |
0.2643% |
0.2448% |
0.2154% |
0.1762% |
0.1273% |
0.0881% |
0.0587% |
Fund |
First
$25
million |
Next
$75
million |
Next
$100
million |
Next
$300
million |
Next
$500
million |
Next
$500
million |
Over
$1.5
billion |
Principal Capital
Appreciation |
0.3916% |
0.3133% |
0.2643% |
0.2252% |
0.1762% |
0.1273% |
0.0783% |
Table
C | |
Fund |
Sub-Advisor
Fee as a % of Net Assets |
SAM Balanced |
0.0416% |
SAM Conservative
Balanced |
0.0416% |
SAM Conservative
Growth |
0.0416% |
SAM Flexible
Income |
0.0416% |
SAM Strategic
Growth |
0.0416% |
Net Asset
Value of Fund | |
Fund |
All
Assets |
Global Diversified
Income
(high yield
sleeve) |
0.30% |
• |
Principal Life unregistered
separate account sub-advised by PGI with assets invested primarily in
fixed-income securities (except money market separate
accounts), |
• |
Principal Life sponsored
mutual fund sub-advised by PGI with assets invested primarily in
fixed-income securities (except money market mutual funds),
and |
• |
assets of the Principal
Variable Contracts Funds, Inc. - Balanced
Account. |
a) |
Principal Life unregistered
separate account sub-advised by PGI and |
b) |
Principal Life sponsored
mutual fund sub-advised by PGI. |
Table
A
Net Asset
Value of Fund | ||||
Fund |
First
$5
billion |
Next
$1
billion |
Next
$4
billion |
Over
$10
billion |
Bond & Mortgage
Securities |
0.1126% |
0.0979% |
0.0930% |
0.0881% |
Table
B
Net Asset
Value of Fund | |||||||
Fund |
First
$50
million |
Next
$50
million |
Next
$100
million |
Next
$200
million |
Next
$350
million |
Next
$750
million |
Over
$1.5
billion |
Diversified
International |
0.3427% |
0.2741% |
0.1958% |
0.1566% |
0.1175% |
0.0979% |
0.0783% |
LargeCap Value |
0.2643% |
0.2448% |
0.2154% |
0.1762% |
0.1273% |
0.0881% |
0.0587% |
Fund |
First
$25
million |
Next
$75
million |
Next
$100
million |
Next
$300
million |
Next
$500
million |
Next
$500
million |
Over
$1.5
billion |
MidCap and
MidCap Value
III |
0.3916% |
0.3133% |
0.2643% |
0.2252% |
0.1762% |
0.1273% |
0.0783% |
SmallCap Blend |
0.4699% |
0.3524% |
0.2643% |
0.2448% |
0.2154% |
0.1762% |
0.1175% |
Table
C | |
Fund |
Sub-Advisor
Fee as a % of Net Assets |
California
Municipal |
0.1000% |
High Yield |
0.2643% |
International Emerging
Markets |
0.4895% |
LargeCap S&P 500
Index |
0.0147% |
MidCap S&P 400
Index |
0.0147% |
Money Market |
0.0734% |
Principal LifeTime 2010, 2015,
2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060 and Strategic
Income |
0.0300% |
SmallCap S&P 600
Index |
0.0147% |
Tax-Exempt Bond |
0.1000% |
Table
D
Net Asset
Value of Specified Portion of the
Global
Diversified Income Fund | |||
Portion of
the
Global
Diversified Income Fund |
First
$500
million |
Next
$500
million |
Over
$1
billion |
Global Value
Equity |
0.34% |
0.27% |
0.20% |
Net Asset
Value of Fund | |||
Fund |
First
$1
billion |
Next
$500
million |
Over
$1.5
billion |
Global Real Estate Securities
and
Global Diversified Income
(global real estate portion) |
0.54% |
0.48% |
0.44% |
Real Estate
Securities |
0.4895% |
0.4405% |
0.3916% |
Net Asset
Value of Fund | ||
Fund |
First
$200
million |
Over
$200
million |
Global Diversified Income
(CMBS) |
0.30% |
0.25% |
Net Asset
Value of Fund | |||
Fund |
First
$100
million |
Next
$150
million |
Over
$250
million |
Global Diversified Income
(preferred securities portion) |
0.3427% |
0.2937% |
0.1958% |
Net Asset
Value of Fund | ||
Fund |
First
$1
billion |
Over
$1
billion* |
Core Plus Bond I
(PIMCO) |
0.25% |
0.225% |
* During any period when the
Fund’s Average Daily Net Assets are below $3 billion, Sub-Advisor’s fee as
a percentage of average daily net assets shall be 0.25% on all
assets. |
Net Asset
Value of Fund | ||
Fund |
First
$600
million |
Over
$600
million |
Global Diversified Income (call
option overwriting) (Guggenheim) |
0.14% |
0.10% |
Net Asset
Value of Fund | |
Fund |
All
Assets |
Global Diversified Income (high
yield portion) (Guggenheim) |
0.30% |
Net Asset
Value of Fund | ||
Fund |
First
$750
million* |
Over
$750
million |
Global Diversified Income (high
yield portion) (DDJ) |
0.40% |
0.35% |
* If assets assigned to DDJ
fall below $500 million during any period after June 30, 2013, the fee
schedule will be 0.45% on all
assets. |
Net Asset
Value of Fund | |||
Fund |
First
$200
million |
Next
$300
million |
Over
$500
million |
Global Diversified Income
(global infrastructure) (Colonial First State) |
0.40% |
0.30% |
0.25% |
Net Asset
Value of Fund | |||
Fund |
First
$200
million |
Next
$550
million |
Over
$750
million |
Global Diversified Income
(global infrastructure) (Reaves Asset Management) |
0.40% |
0.30% |
0.25% |
Net Asset
Value of Fund | ||
Fund |
First
$400
million |
Over
$400
million |
Global Diversified Income
(emerging market debt)
(Stone Harbor) |
0.45% |
0.40% |
Net Asset
Value of Fund | |||||
Fund |
First
$25
million |
Next
$25
million |
Next
$25
million |
Next
$25
million* |
Assets
of
$100
million
or
more** |
Global Diversified Income (MLP
portion) (Tortoise) |
1.00% |
0.85% |
0.75% |
0.75% |
0.625% |
* During any period when the
Fund’s Average Daily Net Assets equal or exceed $75 million, but are less
than $100 million, Tortoise’s fee as a percentage of average daily net
assets shall be 0.75% on all assets. | |||||
** During any period when the
Fund’s Average Daily Net Assets equal or exceed $100 million, Tortoise’s
fee as a percentage of average daily net assets shall be 0.625% on all
assets. |
Net Asset
Value of Fund | |
Fund |
All
Assets |
High Yield I (J.P. Morgan and
Neuberger Berman Fixed Income) |
0.30% |
Average
Daily Gross Assets | |
Fund |
All
Assets |
Inflation Protection
(BlackRock) |
0.08% |
Net Asset
Value of Fund | ||
Fund |
First
$1
billion |
Over
$1
billion |
International I
(Origin) |
0.36% |
0.33% |
Net Asset
Value of Fund | |||
Fund |
First
$250
million |
Next
$250
million |
Over
$500
million |
LargeCap Blend II
(ClearBridge) |
0.25% |
0.20% |
0.15% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||||
Fund |
First
$50
million |
Next
$200
million |
Next
$350
million |
Next
$400
million |
Over
$1
billion |
LargeCap Blend II (T.
Rowe) |
0.40% |
0.35% |
0.30% |
0.275% |
0.275%
on all
assets |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. | |||||
T. Rowe Price has agreed to a
voluntary sub-advisory fee waiver arrangement for those Principal Funds,
Inc. and Principal Variable Contracts Funds Inc. series which it manages
(“T. Rowe Series”) to the extent necessary to reduce the effective monthly
subadvisory fees for the T. Rowe Series by the following percentages based
on the combined average daily net assets of the T. Rowe Series: assets up
to $1 billion – 2.5% fee reduction; assets between $1 billion and $2.5
billion – 5% fee reduction; assets between $2.5 billion and $5 billion –
7.5% fee reduction; assets over $5 billion – 10% fee
reduction. |
Net Asset
Value of Fund | |||
Fund |
First
$100
million |
Next
$100
million |
Over
$200
million |
LargeCap Growth I
(Brown) |
0.30% |
0.25% |
0.20% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||||
Fund |
First
$250
million |
Next
$250
million |
Next
$500
million |
First
$1
billion |
Assets
Above
$1
billion |
LargeCap Growth I (T.
Rowe) |
0.40% |
0.375% |
0.350% |
0.350%* |
0.325% |
* During any period when the
Fund’s Average Daily Net Assets equals or exceeds $1 billion, T. Rowe’s
fees as a percentage of average daily net assets shall be 0.350% on the
first $1 billion in assets.
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. | |||||
T. Rowe Price has agreed to a
voluntary sub-advisory fee waiver arrangement for those Principal Funds,
Inc. and Principal Variable Contracts Funds Inc. series which it manages
(“T. Rowe Series”) to the extent necessary to reduce the effective monthly
subadvisory fees for the T. Rowe Series by the following percentages based
on the combined average daily net assets of the T. Rowe Series: assets up
to $1 billion – 2.5% fee reduction; assets between $1 billion and $2.5
billion – 5% fee reduction; assets between $2.5 billion and $5 billion –
7.5% fee reduction; assets over $5 billion – 10% fee reduction.
|
Net Asset
Value of Fund | ||||
Fund |
First
$50
million |
Next
$200
million |
Next
$500
million |
Over
$750
million |
LargeCap Growth II (American
Century) |
0.45% |
0.40% |
0.35% |
0.30% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$500
million |
Over
$500
million |
LargeCap Growth II
(M&C) |
0.25% |
0.20% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$500
million |
Over
$500
million |
LargeCap Value I
(TS&W) |
0.20% |
0.15% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$200
million |
Next
$300
million |
Over
$500
million |
LargeCap Value I
(Herndon) |
0.25% |
0.20% |
0.18% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$300
million |
Above
$300
million |
LargeCap Value III
(BHMS) |
0.23% |
0.20% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$200
million |
Next
$800
million |
Over
$1
billion |
LargeCap Value III
(Westwood) |
0.30% |
0.20% |
0.18% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$600
million |
Over
$600
million |
MidCap Growth III
(Baird) |
0.40% |
0.35% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||||
Fund |
First
$250
million |
Next
$250
million |
Next
$500
million |
Over
$1
billion |
MidCap Growth III (William
Blair) |
0.50% |
0.45% |
0.35% |
0.33% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$350
million |
Over
$350
million |
MidCap Value I
(GSAM) |
0.46% |
0.40% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |
Fund |
All
Assets |
MidCap Value I (Los Angeles
Capital) |
0.30% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||||
Fund |
First
$10
million |
Next
$15
million |
Next
$25
million |
Next
$50
million |
Over
$100
million |
MidCap Value III
(BHMS) |
0.80% |
0.60% |
0.50% |
0.40% |
0.35% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$350
million |
Over
$350
million |
Overseas (Barrow Hanley and
Causeway) |
0.45% |
0.35% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$25
million |
Next
$75
million |
Over
$100
million |
SmallCap Growth I
(AllianceBernstein) |
0.65% |
0.60% |
0.55% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$200
million |
Next
$200
million |
Over
$400
million |
SmallCap Growth I
(Brown) |
0.50% |
0.45% |
0.40% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | ||
Fund |
First
$200
million |
Over
$200
million |
SmallCap Growth I
(Emerald) |
0.50% |
0.45% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |
Fund |
All
Assets |
SmallCap Value II
(DFA) |
0.50% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$100
million |
Next
$200
million |
Over
$300
million |
SmallCap Value II (Los Angeles
Capital) |
0.50% |
0.45% |
0.35% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Net Asset
Value of Fund | |||
Fund |
First
$100
million |
Next
$200
million |
Over
$300
million |
SmallCap Value II (Vaughan
Nelson) |
0.50% |
0.45% |
0.35% |
Cash and cash equivalents shall
be included in the Series net assets calculation up to a maximum of 1.00%
of the Series net assets. |
Sub-Advisor
Fees for Periods Ended October 31 | |||||||||
Fund |
2013 |
2012 |
2011 | ||||||
Bond & Mortgage
Securities |
|
$2,312,838 |
|
|
$2,099,800 |
|
|
$1,968,207 |
|
California
Municipal |
216,470 |
|
222,686 |
|
315,036 |
| |||
Core Plus Bond
I |
7,883,884 |
|
7,632,137 |
|
7,251,893 |
| |||
Diversified
International |
3,711,913 |
|
2,759,885 |
|
1,783,508 |
| |||
Equity Income |
3,406,594 |
|
2,891,963 |
|
2,542,914 |
| |||
Global Diversified
Income |
27,087,927 |
|
14,561,992 |
|
8,485,345 |
| |||
Global Real Estate
Securities |
7,038,404 |
|
3,655,531 |
|
960,497 |
| |||
Government & High Quality
Bond |
1,875,901 |
|
1,780,470 |
|
1,688,149 |
| |||
High Yield |
10,184,716 |
|
9,477,315 |
|
8,846,026 |
| |||
High Yield I |
4,159,320 |
|
4,089,746 |
|
4,295,387 |
| |||
Income |
2,406,136 |
|
1,907,221 |
|
1,460,057 |
| |||
Inflation
Protection |
669,504 |
|
633,562 |
|
590,633 |
| |||
International I |
2,833,596 |
|
3,712,968 |
|
4,702,553 |
| |||
International Emerging
Markets |
7,995,811 |
|
7,479,559 |
|
8,017,810 |
| |||
LargeCap Blend
II |
1,870,567 |
|
1,917,014 |
|
1,904,147 |
| |||
LargeCap Growth |
4,419,772 |
|
3,997,634 |
|
4,281,711 |
| |||
LargeCap Growth
I |
12,723,954 |
|
8,981,995 |
|
7,119,190 |
| |||
LargeCap Growth
II |
3,080,628 |
|
2,848,678 |
|
2,783,992 |
| |||
LargeCap S&P 500
Index |
469,492 |
|
377,827 |
|
361,899 |
| |||
LargeCap Value |
1,571,662 |
|
1,216,259 |
|
1,084,454 |
| |||
LargeCap Value
I |
2,801,453 |
|
2,660,677 |
|
2,791,172 |
| |||
LargeCap Value
III |
1,454,783 |
|
1,571,517 |
|
2,173,028 |
| |||
MidCap |
5,243,168 |
|
2,899,063 |
|
1,916,945 |
| |||
MidCap Growth |
292,478 |
|
316,270 |
|
383,458 |
| |||
MidCap Growth
III |
5,735,260 |
|
5,444,773 |
|
5,950,525 |
| |||
MidCap S&P 400
Index |
107,499 |
|
75,449 |
|
62,748 |
| |||
MidCap Value I |
4,907,669 |
|
4,526,432 |
|
4,585,870 |
| |||
MidCap Value
III |
1,009,303 |
|
223,000 |
|
246,758 |
| |||
Money Market |
850,580 |
|
905,027 |
|
964,126 |
| |||
Overseas |
6,586,702 |
|
5,060,360 |
|
4,819,094 |
| |||
Principal Capital
Appreciation |
2,754,686 |
|
2,613,953 |
|
2,271,209 |
| |||
Principal LifeTime Strategic
Income |
237,459 |
|
218,475 |
|
200,838 |
| |||
Principal LifeTime
2010 |
506,540 |
|
503,196 |
|
526,571 |
| |||
Principal LifeTime
2015 |
268,683 |
|
210,963 |
|
176,056 |
| |||
Principal LifeTime
2020 |
1,779,181 |
|
1,576,651 |
|
1,506,759 |
| |||
Principal LifeTime
2025 |
364,007 |
|
257,464 |
|
200,546 |
| |||
Principal LifeTime
2030 |
1,693,311 |
|
1,454,114 |
|
1,369,427 |
| |||
Principal LifeTime
2035 |
246,773 |
|
168,507 |
|
128,601 |
| |||
Principal LifeTime
2040 |
1,051,007 |
|
877,246 |
|
810,533 |
| |||
Principal LifeTime
2045 |
131,966 |
|
84,826 |
|
59,571 |
| |||
Principal LifeTime
2050 |
477,272 |
|
373,567 |
|
341,850 |
| |||
Principal LifeTime
2055 |
24,936 |
|
13,980 |
|
8,959 |
| |||
Principal LifeTime
2060 |
65 |
|
- |
|
- |
| |||
Real Estate
Securities |
7,174,241 |
|
7,438,130 |
|
7,858,393 |
| |||
SAM Balanced |
1,707,614 |
|
1,442,075 |
|
1,392,729 |
| |||
SAM Conservative
Balanced |
553,417 |
|
432,754 |
|
368,859 |
| |||
SAM Conservative
Growth |
1,135,512 |
|
977,391 |
|
986,586 |
| |||
SAM Flexible
Income |
690,580 |
|
528,000 |
|
435,041 |
| |||
SAM Strategic
Growth |
703,736 |
|
612,577 |
|
630,093 |
| |||
Short-Term
Income |
1,659,633 |
|
1,284,243 |
|
1,030,862 |
| |||
SmallCap Blend |
928,975 |
|
752,641 |
|
542,954 |
| |||
SmallCap Growth
I |
7,178,977 |
|
5,987,240 |
|
5,664,366 |
| |||
SmallCap S&P 600
Index |
150,205 |
|
73,743 |
|
64,439 |
| |||
SmallCap Value
II |
4,805,345 |
|
3,762,631 |
|
3,839,567 |
| |||
Tax Exempt Bond |
256,171 |
|
248,085 |
|
301,343 |
|
Underwriting
Fees for Periods Ended October 31, (amounts in thousands) | |||||||
Fund |
2013 |
2012 |
2011 | ||||
Bond & Mortgage
Securities |
$85 |
$111 |
$101 | ||||
California
Municipal |
69 |
|
25 |
|
24 |
| |
Diversified
International |
167 |
|
180 |
|
226 |
| |
Equity Income |
422 |
|
363 |
|
448 |
| |
Global Diversified
Income |
2,726 |
|
2,154 |
|
1,544 |
| |
Global Real Estate
Securities |
81 |
|
25 |
|
23 |
| |
Government & High Quality
Bond |
564 |
|
603 |
|
489 |
| |
High Yield |
381 |
|
556 |
|
695 |
| |
High Yield I |
6 |
|
(a) |
— |
|
— |
|
Income |
423 |
|
366 |
|
331 |
| |
Inflation
Protection |
32 |
|
44 |
|
35 |
| |
International Emerging
Markets |
181 |
|
182 |
|
272 |
| |
LargeCap Blend
II |
3 |
|
5 |
|
4 |
| |
LargeCap Growth |
211 |
|
204 |
|
264 |
| |
LargeCap Growth
I |
16 |
|
14 |
|
13 |
| |
LargeCap Growth
II |
2 |
|
1 |
|
3 |
| |
LargeCap S&P 500
Index |
139 |
|
103 |
|
102 |
| |
LargeCap Value |
137 |
|
117 |
|
139 |
| |
LargeCap Value
III |
1 |
|
4 |
|
4 |
| |
MidCap |
907 |
|
724 |
|
667 |
| |
MidCap Growth |
2 |
|
1 |
|
1 |
| |
MidCap Growth
III |
2 |
|
2 |
|
3 |
| |
MidCap S&P 400
Index |
9 |
|
6 |
|
7 |
| |
MidCap Value I |
2 |
|
3 |
|
3 |
| |
MidCap Value
III |
2 |
|
2 |
|
3 |
| |
Money Market |
131 |
|
149 |
|
212 |
| |
Principal Capital
Appreciation |
275 |
|
223 |
|
245 |
| |
Principal LifeTime
2010 |
66 |
|
72 |
|
93 |
| |
Principal LifeTime
2020 |
328 |
|
308 |
|
345 |
| |
Principal LifeTime
2030 |
441 |
|
444 |
|
463 |
| |
Principal LifeTime
2040 |
339 |
|
297 |
|
289 |
| |
Principal LifeTime
2050 |
160 |
|
151 |
|
154 |
| |
Principal LifeTime Strategic
Income |
38 |
|
41 |
|
29 |
| |
Real Estate
Securities |
197 |
|
179 |
|
195 |
| |
SAM Balanced |
1,945 |
|
1,694 |
|
2,043 |
| |
SAM Conservative
Balanced |
884 |
|
745 |
|
788 |
| |
SAM Conservative
Growth |
1,197 |
|
1,091 |
|
1,324 |
| |
SAM Flexible
Income |
1,048 |
|
667 |
|
798 |
| |
SAM Strategic
Growth |
807 |
|
846 |
|
1,027 |
| |
Short-Term
Income |
626 |
|
589 |
|
444 |
| |
SmallCap Blend |
154 |
|
117 |
|
109 |
| |
SmallCap Growth
I |
1 |
|
3 |
|
5 |
| |
SmallCap S&P 600
Index |
15 |
|
14 |
|
11 |
| |
SmallCap Value
II |
2 |
|
1 |
|
4 |
| |
Tax-Exempt Bond |
89 |
|
86 |
|
61 |
|
(a) Period from March 1,
2013, date operations commenced, through October 31,
2013. |
Years
Since Purchase
Payments
Made |
CDSC
as a % of
Dollar
Amount |
Accounts
Included in
Certain
Sponsored Plans
Established
After 02/01/1998
and
Before 03/01/2002 |
2 years or less |
4.00% |
3.00% |
more than 2 years, up to 4
years |
3.00 |
2.00 |
more than 4 years, up to 5
years |
2.00 |
1.00 |
more than 5 years, up to 6
years |
1.00 |
None |
more than 6
years |
None |
None |
• |
redeemed within 90 days after
an account is re-registered due to a shareholder's
death; |
• |
redeemed to pay surrender
fees; |
• |
redeemed to pay retirement
plan fees; |
• |
redeemed involuntarily from
accounts with small balances; |
• |
redeemed due to the
shareholder's disability (as defined by the Internal Revenue Code)
provided the shares were purchased prior to the disability;
|
• |
redeemed from retirement plans
to satisfy minimum distribution rules under the Internal Revenue
Code; |
• |
redeemed from a retirement
plan to assure the plan complies with the Internal Revenue
Code; |
• |
redeemed from retirement plans
qualified under Section 401(a) of the Internal Revenue Code due to the
plan participant's death, disability, retirement, or separation from
service after attaining age 55; |
• |
redeemed from retirement plans
to satisfy excess contribution rules under the Internal Revenue Code;
or |
• |
redeemed using a systematic
withdrawal plan (up to 1% per month (measured cumulatively with respect to
non-monthly plans) of the value of the fund account at the time, and
beginning on the date, the systematic withdrawal plan begins). (The free
withdrawal privilege not used in a calendar year is not added to the free
withdrawal privileges for any following
year.) |
• |
redeemed that were purchased
pursuant to the Small Amount Force Out program (SAFO);
or |
• |
of the Money Market Fund
redeemed within 30 days of the initial purchase if the redemption proceeds
are transferred to another Principal IRA, defined as either a fixed or
variable annuity issued by Principal Life Insurance Company to fund an
IRA, a Principal Bank IRA product, or a WRAP account IRA sponsored by
Princor Financial Services
Corporation. |
• |
responding to plan sponsor and
plan member inquiries; |
• |
providing information
regarding plan sponsor and plan member investments;
and |
• |
providing other similar
personal services or services related to the maintenance of shareholder
accounts as contemplated by National Association of Securities Dealers
(NASD) Rule 2830 (or any successor
thereto). |
• |
receiving, aggregating, and
processing purchase, exchange, and redemption requests from plan
shareholders; |
• |
providing plan shareholders
with a service that invests the assets of their accounts in shares
pursuant to pre-authorized instructions submitted by plan
members; |
• |
processing dividend payments
from the Funds on behalf of plan shareholders and changing shareholder
account designations; |
• |
acting as shareholder of
record and nominee for plans; |
• |
maintaining account records
for shareholders and/or other beneficial
owners; |
• |
providing notification to plan
shareholders of transactions affecting their
accounts; |
• |
forwarding prospectuses,
financial reports, tax information and other communications from the Fund
to beneficial owners; |
• |
distributing, receiving,
tabulating and transmitting proxy ballots of plan shareholders;
and |
• |
other similar administrative
services. |
• |
formulation and implementation
of marketing and promotional activities; |
• |
preparation, printing, and
distribution of sales literature; |
• |
preparation, printing, and
distribution of prospectuses and the Fund reports to other than existing
shareholders; |
• |
obtaining such information
with respect to marketing and promotional activities as the Distributor
deems advisable; |
• |
making payments to dealers and
others engaged in the sale of shares or who engage in shareholder support
services; and |
• |
providing training, marketing,
and support with respect to the sale of
shares. |
Share
Class |
Maximum
Annualized
12b-1
Fee |
A (except LargeCap S&P 500
Index, Money Market, and Short-Term Income Funds)(1) |
0.25% |
A of LargeCap S&P 500 Index
and Short-Term Income Funds |
0.15% |
B (1)
(2) |
1.00% |
C (1) |
1.00% |
J |
0.25% |
R-1 |
0.35% |
R-2 |
0.30% |
R-3 |
0.25% |
R-4 |
0.10% |
(1) The
Distributor also receives the proceeds of any CDSC imposed on the
redemption of Class A, B, C, or J shares. | |
(2)
Although
Class B shares are no longer available for purchase (except through
exchanges and dividend reinvestments), the 12b-1 Distribution Plan and
Agreement related to Class B shares continues in effect to ensure
that advisers maintain shareholder service levels. The
Distributor may remit on a continuous basis all of these sums (up to 0.25%
for Class B shares) to its investment representatives and other financial
intermediaries as a trail fee in recognition of their services and
assistance. |
Fund |
Distribution/12b-1
Payments
(amounts in
thousands) | ||
Bond & Mortgage Securities
Fund |
$ |
1,454 |
|
California Municipal
Fund |
622 |
| |
Core Plus Bond Fund
I |
79 |
| |
Diversified International
Fund |
1,903 |
| |
Equity Income
Fund |
4,181 |
| |
Global Diversified Income
Fund |
27,244 |
| |
Global Real Estate Securities
Fund |
256 |
| |
Government & High Quality
Bond Fund |
3,166 |
| |
High Yield Fund |
10,733 |
| |
High Yield Fund
I |
3 |
| |
Income Fund |
2,315 |
| |
Inflation Protection
Fund |
221 |
| |
International Emerging Markets
Fund |
1,291 |
| |
International Fund
I |
52 |
| |
LargeCap Blend Fund
II |
544 |
| |
LargeCap Growth
Fund |
1,338 |
| |
LargeCap Growth Fund
I |
808 |
| |
LargeCap Growth Fund
II |
184 |
| |
LargeCap S&P 500 Index
Fund |
2,966 |
| |
LargeCap Value
Fund |
820 |
| |
LargeCap Value Fund
I |
32 |
| |
LargeCap Value Fund
III |
360 |
| |
MidCap Fund |
8,311 |
| |
MidCap Growth
Fund |
145 |
| |
MidCap Growth Fund
III |
258 |
| |
MidCap S&P 400 Index
Fund |
702 |
| |
MidCap Value Fund
I |
459 |
| |
MidCap Value Fund
III |
429 |
| |
Money Market
Fund |
963 |
| |
Overseas Fund |
– |
| |
Principal Capital Appreciation
Fund |
2,350 |
| |
Principal LifeTime 2010
Fund |
1,521 |
| |
Principal LifeTime 2015
Fund |
344 |
| |
Principal LifeTime 2020
Fund |
4,967 |
| |
Principal LifeTime 2025
Fund |
452 |
| |
Principal LifeTime 2030
Fund |
5,017 |
| |
Principal LifeTime 2035
Fund |
328 |
| |
Principal LifeTime 2040
Fund |
2,881 |
| |
Principal LifeTime 2045
Fund |
189 |
| |
Principal LifeTime 2050
Fund |
951 |
| |
Principal LifeTime 2055
Fund |
27 |
| |
Principal LifeTime 2060
Fund |
1 |
| |
Principal LifeTime Strategic
Income Fund |
597 |
| |
Real Estate Securities
Fund |
1,622 |
| |
SAM Balanced
Portfolio |
15,492 |
| |
SAM Conservative Balanced
Portfolio |
5,078 |
| |
SAM Conservative Growth
Portfolio |
10,712 |
| |
SAM Flexible Income
Portfolio |
6,796 |
| |
SAM Strategic Growth
Portfolio |
6,890 |
| |
Short-Term Income
Fund |
2,204 |
| |
SmallCap Blend
Fund |
1,308 |
| |
SmallCap Growth Fund
I |
185 |
| |
SmallCap S&P 600 Index
Fund |
885 |
| |
SmallCap Value Fund
II |
128 |
| |
Tax-Exempt Bond
Fund |
723 |
|
• |
issuance, transfer,
conversion, cancellation, and registry of ownership of Fund shares, and
maintenance of open account system; |
• |
preparation and distribution
of dividend and capital gain payments to
shareholders; |
• |
delivery, redemption and
repurchase of shares, and remittances to
shareholders; |
• |
the tabulation of proxy
ballots and the preparation and distribution to shareholders of notices,
proxy statements and proxies, reports, confirmation of transactions,
prospectuses and tax information; |
• |
communication with
shareholders concerning the above items;
and |
• |
use of its best efforts to
qualify the Capital Stock of the Fund for sale in states and jurisdictions
as directed by the Fund. |
401(k) Advisors,
Inc. |
LPL Financial
Corporation |
ACS HR Solutions
LLC |
M Holdings Securities
Inc. |
Access Financial Group,
Inc. |
Massachusetts
Mutual |
ADP Retirement
Services |
Mercer HR
Services |
AFA Financial Group
LLC |
Merrill
Lynch |
AIG Advisor
Group |
Meridien Financial Group
Inc. |
AIG SunAmerica
Life |
Mesirow Financial
Inc. |
American Century
Investments |
MetLife Securities,
Inc. |
American General Life
Insurance |
MHA Insurance Agency
Inc. |
American Investors
Co |
MidAtlantic Capital
Corporation |
American Portfolios Financial
Services |
Middlegate Securities
LTD |
Ameriprise Financial
Services |
MML Investors Services
Inc. |
Ameritas Investments
Corp |
Morgan Keegan &
Co. |
ASAE Services,
Inc. |
Morgan
Stanley |
Ascensus |
MSCS Financial
Services |
AssetMark Trust
Company |
Multi-Financial Securities
Corp. |
AXA Advisors,
LLC |
Mutual Service
Corporation |
Bedminster Financial Group
Ltd. |
National Financial
Services |
Benefit Plan
Administrators |
National Planning
Corp. |
Cadaret, Grant & Company,
Inc |
National Planning
Holdings |
Cambridge Investment Research
Inc. |
Nationwide Investment Services
Corp |
Cantella & Co.
Inc. |
NBC Securities
Inc. |
Cammack Larhette Brokerage
Inc. |
New England
Securities |
Capital Investment Brokerage,
Inc. |
New York
Life |
CBIZ Financial Solutions,
Inc. |
New York State Deferred
Compensation Plan |
Centaurus Financial
Inc. |
Newport Group,
The |
CEROS Financial Services,
Inc. |
Newport Retirement Plan
Services |
Cetera Advisor Networks
LLC |
NFP Securities,
Inc. |
Cetera Advisors
LLC |
NHA Insurance Agency,
Inc. |
Cetera Financial
Group |
Northwestern Mutual Investment
Services |
Cetera Financial Specialists
LLC |
NRP Financial,
Inc. |
Cetera Investment Services
LLC |
NYLife Distributors
LLC |
Charles Schwab &
Co. |
OneAmerica Securities,
Inc. |
Charles Schwab Trust
Company |
Ogilvie Security Advisors
Corp. |
Chase Investment Services
Corp. |
Packerland Brokerage Services,
Inc. |
Citibank, Inc. |
Pershing |
Citigroup Global Markets
Inc. |
Plan Administrators,
Inc. |
Colony Park Financial Services,
Inc. |
Plexus Financial Services,
LLC |
Comerica Retirement
Services |
PRIMEVEST Financial Services,
Inc. |
Comerica Securities
Inc. |
Principal Life Insurance
Company |
Commonwealth Financial
Network |
Princor Financial Services
Corp |
Comprehensive Asset Management
and Servicing Inc. |
ProEquities,
Inc. |
Compusys
(Texas) |
Prudential Investment
Management Services |
CPI Qualified
Consultants |
Prudential Retirement
Services |
CV Brokerage
Inc. |
Putnam Investors
Services |
Daily Access
Corporation |
Quest Capital Strategies
Inc. |
Digital Retirement
Solutions |
Raymond James & Associates,
Inc. |
Edward Jones |
Raymond James Financial
Services, Inc. |
Elliott Davis Brokerage
Services LLC |
RBC Capital Markets
Corp. |
ePlan Services,
Inc. |
Reliance Trust
Company |
Equity Services
Inc. |
Robert W. Baird &
Co. |
Evolve Securities
Inc. |
RolloverSystems,
LLC |
Expert Plan |
Royal Alliance Associates,
Inc. |
Farmers Financial
Solutions |
Royal Securities
Co. |
Federated Securities,
Inc. |
SagePoint Financial,
Inc. |
Fidelity Brokerage
Services |
Scott & Stringfellow
Inc. |
Fidelity Investment
Institutional Operations Co. |
Scottrade |
Financial Data
Services |
Searle &
Co. |
Financial Network Investment
Corp. |
Securities America,
Inc. |
Financial Telesis
Inc. |
Securities Service Network,
Inc. |
Fintrust Brokerage Services
LLC |
Sentinel Securities
Inc. |
First Allied
Securities |
Sigma Financial
Corp |
First Clearing
LLC |
Signator Investors,
Inc., |
First Heartland Capital
Inc. |
SII Investments,
Inc. |
Foothill Securities,
Inc |
Southeast Investments N.C.,
Inc. |
Fortune Securities
Inc. |
Southwest
Securities |
FSC Securities
Corporation |
Standard Insurance
Company |
G.A. Repple &
Company |
Standard Retirement
Services |
Genesis Employee
Benefit |
Stifel Nicolaus & Company,
Inc. |
Geneos Wealth Management,
Inc. |
Stock Yards Bank & Trust
Company |
Genworth Financial Securities
Corp. |
Summit Brokerage Services,
Inc. |
Girard Securities,
Inc |
Sunset Financial Services
Inc. |
GWFS Equities,
Inc. |
Support Services Financial
Advisors Inc. |
H Beck Inc. |
Symetra Investment Services
Inc. |
Harbor Financial Services
LLC |
T. Rowe Price Retirement Plan
Services |
Hartford
Securities |
TD Ameritrade
Inc. |
Hewitt Financial Services, LLC
|
TD Ameritrade Trust
Company |
HighTower Securities,
LLC |
TIAA-CREF |
Huntington Investment Company,
The |
Triad Advisors,
Inc. |
ICMA-Retirement
Corp. |
Truenorth Securities
Inc. |
ING Financial Partners
Inc. |
TruSource |
ING Institutional Plan
Services |
Trust Company of
America |
Intersecurities
Inc. |
Trustcore Investments
Inc. |
Invest Financial
Corp. |
UBS Financial Services,
Inc. |
Investacorp
Inc. |
United Planners Financial
Services of America |
Investment Center,
The |
US Bancorp
Investments |
Investment Centers of America,
Inc. |
USA Financial Securities
Corp. |
Janney Montgomery
Scott |
USI Securities
Inc. |
JJB Hilliard WL Lyons,
Inc. |
UVEST Financial
Services |
JP Morgan Chase,
NA |
VALIC Retirement Services
Company |
JP Morgan
Clearing |
Valmark Securities
Inc. |
JP Morgan Retirement Plan
Services |
Vanguard Brokerage
Services |
J.P. Morgan Securities,
Inc. |
Vanguard Group,
The |
KMS Financial Services
Inc. |
VSR Financial Services,
Inc. |
Leaders Group, Inc.,
The |
Wayne Hummer Investments
LLC |
Leumi Investment Services
Inc. |
Wells Fargo
Advisors |
Lincoln Financial
Advisors |
Wells Fargo Bank,
N.A. |
Lincoln Financial
Securities |
Wilmington
Trust |
Lincoln Investment
Planning |
Wilmington Trust Retirement
& Institutional Services |
Lincoln Retirement Services
Co. |
Woodbury Financial
Services |
Lockton Financial Advisors
LLC |
Young, Stovall &
Co. |
LPL Financial Corp. -
UVEST |
Fund |
Amount
of
Transactions
because
of
Research
Services
Provided |
Related
Commissions
Paid | ||||
Diversified
International |
$ |
891,792,501 |
|
$ |
1,503,943 |
|
Equity Income |
1,424,691,169 |
|
1,518,193 |
| ||
Global Diversified
Income |
3,344,604,574 |
|
610,684 |
| ||
Global Real Estate
Securities |
311,303,872 |
|
283,148 |
| ||
International Emerging
Markets |
723,925,830 |
|
1,473,500 |
| ||
LargeCap Blend
II |
495,976,740 |
|
288,139 |
| ||
LargeCap Growth |
331,473,708 |
|
336,419 |
| ||
LargeCap Growth
I |
486,066,609 |
|
168,180 |
| ||
LargeCap Growth
II |
1,229,663,331 |
|
422,438 |
| ||
LargeCap S&P 500
Index |
719,529 |
|
250 |
| ||
LargeCap Value |
1,724,856,222 |
|
774,343 |
| ||
LargeCap Value
I |
988,019,573 |
|
566,624 |
| ||
LargeCap Value
III |
151,348,724 |
|
108,360 |
| ||
MidCap |
458,969,458 |
|
198,570 |
| ||
MidCap Growth |
11,507,491 |
|
14,795 |
| ||
MidCap Growth
III |
398,730,528 |
|
228,704 |
| ||
MidCap S&P 400
Index |
5,544,148 |
|
184 |
| ||
MidCap Value I |
2,584,562,710 |
|
1,756,679 |
| ||
MidCap Value
III |
224,928,481 |
|
126,567 |
| ||
Overseas |
96,046,296 |
|
790,731 |
| ||
Principal Capital
Appreciation |
345,812,133 |
|
252,383 |
| ||
Real Estate
Securities |
427,071,972 |
|
225,734 |
| ||
SmallCap Blend |
114,869,266 |
|
122,750 |
| ||
SmallCap Growth
I |
893,880,780 |
|
698,827 |
| ||
SmallCap S&P 600
Index |
26,587,558 |
|
4,188 |
| ||
SmallCap Value
II |
819,169,080 |
|
782,739 |
|
Total
Brokerage Commissions Paid
For Periods
Ended October 31 | |||||||||
Fund |
2013 |
2012 |
2011 | ||||||
Bond & Mortgage
Securities |
— |
|
— |
|
$ |
731 |
| ||
Diversified
International |
$ |
9,151,581 |
|
$ |
6,600,874 |
|
4,286,532 |
| |
Equity Income |
1,639,185 |
|
1,903,351 |
|
1,575,312 |
| |||
Global Diversified
Income |
4,657,568 |
|
1,537,319 |
|
1,203,909 |
| |||
Global Real Estate
Securities |
2,063,633 |
|
2,242,289 |
|
650,292 |
| |||
High Yield |
40,346 |
|
— |
|
65,907 |
| |||
High Yield I |
5,869 |
|
7,420 |
|
12,330 |
| |||
International Emerging
Markets |
7,686,387 |
|
6,487,880 |
|
5,496,267 |
| |||
International I |
1,301,916 |
|
1,474,271 |
|
2,822,973 |
| |||
LargeCap Blend
II |
587,104 |
|
579,307 |
|
639,102 |
| |||
LargeCap Growth |
3,346,602 |
|
2,600,317 |
|
2,614,838 |
| |||
LargeCap Growth
I |
1,637,549 |
|
1,513,901 |
|
1,607,713 |
| |||
LargeCap Growth
II |
618,679 |
|
575,364 |
|
871,436 |
| |||
LargeCap S&P 500
Index |
28,595 |
|
42,269 |
|
43,580 |
| |||
LargeCap Value |
4,151,700 |
|
3,390,178 |
|
3,889,162 |
| |||
LargeCap Value
I |
2,324,795 |
|
2,140,820 |
|
3,358,881 |
| |||
LargeCap Value
III |
722,530 |
|
1,009,331 |
|
1,923,686 |
| |||
MidCap |
2,401,053 |
|
2,032,241 |
|
1,181,389 |
| |||
MidCap Growth |
415,944 |
|
416,323 |
|
385,173 |
| |||
MidCap Growth
III |
1,572,664 |
|
2,179,888 |
|
1,675,284 |
| |||
MidCap S&P 400
Index |
40,472 |
|
28,721 |
|
37,591 |
| |||
MidCap Value I |
2,125,242 |
|
1,817,185 |
|
1,935,035 |
| |||
MidCap Value
III |
901,749 |
|
89,268 |
|
166,604 |
| |||
Overseas |
1,286,524 |
|
858,711 |
|
1,304,311 |
| |||
Principal Capital
Appreciation |
289,843 |
|
214,129 |
|
449,983 |
| |||
Real Estate
Securities |
1,115,722 |
|
1,319,187 |
|
941,923 |
| |||
SmallCap Blend |
1,195,312 |
|
1,022,028 |
|
628,572 |
| |||
SmallCap Growth
I |
2,472,753 |
|
2,350,587 |
|
2,654,859 |
| |||
SmallCap S&P 600
Index |
87,459 |
|
31,271 |
|
35,705 |
| |||
SmallCap Value
II |
1,449,998 |
|
1,243,582 |
|
1,220,696 |
|
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2013 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Diversified
International | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
8,395 |
|
0.09 |
% |
0.14 |
% |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
771,272 |
|
8.43 |
% |
8.87 |
% | |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
34,056 |
|
0.37 |
% |
0.72 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
740,301 |
|
8.09 |
% |
8.10 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
659 |
|
0.01 |
% |
0.02 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
471,045 |
|
5.15 |
% |
4.79 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
38,502 |
|
0.42 |
% |
0.67 |
% | |
Total |
$ |
2,064,230 |
|
22.56 |
% |
23.31 |
% | ||
Equity
Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
431,774 |
|
26.34 |
% |
19.88 |
% |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
70,044 |
|
4.27 |
% |
2.75 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
135,704 |
|
8.28 |
% |
8.53 |
% | |
Total |
$ |
637,522 |
|
38.89 |
% |
31.16 |
% | ||
Global
Diversified Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
173,102 |
|
3.72 |
% |
3.67 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
10,398 |
|
0.22 |
% |
0.12 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
300,931 |
|
6.46 |
% |
4.25 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
7,711 |
|
0.17 |
% |
0.34 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
191,531 |
|
4.11 |
% |
3.08 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
162,070 |
|
3.48 |
% |
2.31 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
64,873 |
|
1.39 |
% |
1.28 |
% | |
|
Columbus Circle
Investors Edge Asset Management, Inc. Principal Global Investors, LLC Principal Real Estate Investors, LLC Spectrum Asset Management, Inc. |
Spectrum Asset Management,
Inc. |
158,407 |
|
3.40 |
% |
2.32 |
% | |
Total |
$ |
1,069,023 |
|
22.95 |
% |
17.37 |
% | ||
Global Real
Estate Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
68,896 |
|
3.34 |
% |
7.51 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
505 |
|
0.02 |
% |
0.06 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
69,652 |
|
3.38 |
% |
3.05 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
6 |
|
0.00 |
% |
0.00 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
50,275 |
|
2.44 |
% |
3.40 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
29,645 |
|
1.44 |
% |
2.00 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
12,307 |
|
0.60 |
% |
0.91 |
% | |
Total |
$ |
231,286 |
|
11.22 |
% |
16.93 |
% | ||
High Yield
I | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
487 |
|
8.31 |
% |
8.80 |
% |
Total |
$ |
487 |
|
8.31 |
% |
8.80 |
% | ||
International
Emerging Markets | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
13,403 |
|
0.17 |
% |
0.50 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
505,530 |
|
6.58 |
% |
6.21 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
1,153 |
|
0.01 |
% |
0.06 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
522,887 |
|
6.80 |
% |
5.79 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
617,732 |
|
8.04 |
% |
8.14 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
20,346 |
|
0.26 |
% |
0.28 |
% | |
Total |
$ |
1,681,051 |
|
21.86 |
% |
20.98 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2013 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
International
I | |||||||||
|
Cliffwater LLC |
Commonwealth Australia
Securities LLC |
$ |
178 |
|
0.01 |
% |
0.01 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
100,143 |
|
7.69 |
% |
8.54 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
43,697 |
|
3.36 |
% |
2.38 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
110,978 |
|
8.52 |
% |
10.32 |
% | |
|
Vaughan Nelson Investment
Management, LP |
Natixis Securities Americas
LLC |
676 |
|
0.05 |
% |
0.05 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
303 |
|
0.02 |
% |
0.03 |
% | |
Total |
$ |
255,975 |
|
19.65 |
% |
21.33 |
% | ||
LargeCap
Blend II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
36 |
|
0.01 |
% |
0.01 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
45,718 |
|
7.79 |
% |
10.89 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
141,126 |
|
24.04 |
% |
25.77 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
297 |
|
0.05 |
% |
0.03 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
49,466 |
|
8.43 |
% |
4.63 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,909 |
|
1.69 |
% |
1.67 |
% | |
Total |
$ |
246,552 |
|
42.01 |
% |
43.00 |
% | ||
LargeCap
Growth | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
24,196 |
|
0.72 |
% |
1.10 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
12,473 |
|
0.37 |
% |
0.77 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
177,389 |
|
5.30 |
% |
6.81 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
19,416 |
|
0.58 |
% |
0.51 |
% | |
Total |
$ |
233,474 |
|
6.97 |
% |
9.19 |
% | ||
LargeCap
Growth I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
358 |
|
0.02 |
% |
0.02 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
76,954 |
|
4.70 |
% |
5.93 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
162,481 |
|
9.92 |
% |
6.59 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
1,655 |
|
0.10 |
% |
0.18 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
138,786 |
|
8.48 |
% |
6.61 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
43,849 |
|
2.68 |
% |
2.94 |
% | |
Total |
$ |
424,083 |
|
25.90 |
% |
22.27 |
% | ||
LargeCap
Growth II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
55,532 |
|
8.98 |
% |
4.36 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
44,270 |
|
7.16 |
% |
9.64 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
15,089 |
|
2.44 |
% |
2.26 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
73,349 |
|
11.86 |
% |
13.10 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
29,977 |
|
4.85 |
% |
6.74 |
% | |
Total |
$ |
218,217 |
|
35.29 |
% |
36.10 |
% | ||
LargeCap
S&P 500 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
32 |
|
0.11 |
% |
0.07 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
182 |
|
0.64 |
% |
0.56 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
12,329 |
|
43.11 |
% |
45.88 |
% | |
Total |
$ |
12,543 |
|
43.86 |
% |
46.51 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2013 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
LargeCap
Value | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
334,568 |
|
8.06 |
% |
11.21 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
226,278 |
|
5.45 |
% |
6.27 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
9,053 |
|
0.22 |
% |
0.50 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
100,430 |
|
2.42 |
% |
2.09 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
147,797 |
|
3.56 |
% |
5.41 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
145,259 |
|
3.50 |
% |
5.31 |
% | |
Total |
$ |
963,385 |
|
23.21 |
% |
30.79 |
% | ||
LargeCap
Value I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
588,519 |
|
25.31 |
% |
18.93 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
9,160 |
|
0.39 |
% |
0.46 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
315 |
|
0.01 |
% |
0.02 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
156,999 |
|
6.75 |
% |
8.56 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
92,675 |
|
3.99 |
% |
6.42 |
% | |
Total |
$ |
847,668 |
|
36.45 |
% |
34.39 |
% | ||
LargeCap
Value III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
21,041 |
|
2.91 |
% |
1.79 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
471 |
|
0.07 |
% |
0.04 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
7,463 |
|
1.03 |
% |
0.75 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
2,336 |
|
0.32 |
% |
0.21 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
2,289 |
|
0.32 |
% |
0.16 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
42,577 |
|
5.89 |
% |
6.55 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
11,108 |
|
1.54 |
% |
1.34 |
% | |
Total |
$ |
87,285 |
|
12.08 |
% |
10.84 |
% | ||
MidCap | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
92,078 |
|
3.83 |
% |
6.16 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
452 |
|
0.02 |
% |
0.01 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
104,017 |
|
4.33 |
% |
4.57 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
3,879 |
|
0.16 |
% |
0.46 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
38,357 |
|
1.60 |
% |
3.20 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
20,613 |
|
0.86 |
% |
1.20 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
32,614 |
|
1.36 |
% |
1.17 |
% | |
Total |
$ |
292,010 |
|
12.16 |
% |
16.77 |
% | ||
MidCap
Growth | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
5,669 |
|
1.36 |
% |
1.32 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
5,214 |
|
1.25 |
% |
1.41 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
19,473 |
|
4.68 |
% |
4.91 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
656 |
|
0.16 |
% |
0.09 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
779 |
|
0.19 |
% |
0.15 |
% | |
Total |
$ |
31,791 |
|
7.64 |
% |
7.88 |
% | ||
MidCap
Growth III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
227,939 |
|
14.49 |
% |
6.31 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
37,371 |
|
2.38 |
% |
2.88 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
76 |
|
0.00 |
% |
0.01 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
1,270 |
|
0.08 |
% |
0.10 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
73,294 |
|
4.66 |
% |
3.36 |
% | |
|
Neuberger Berman Fixed Income,
LLC |
Neuberger Berman
LLC |
4,084 |
|
0.26 |
% |
0.13 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
40,272 |
|
2.56 |
% |
0.56 |
% | |
Total |
$ |
384,306 |
|
24.43 |
% |
13.35 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2013 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
MidCap
S&P 400 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
369 |
|
0.91 |
% |
0.45 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
7,993 |
|
19.75 |
% |
19.84 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
4,596 |
|
11.36 |
% |
9.86 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
5,675 |
|
14.02 |
% |
13.06 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
58 |
|
0.14 |
% |
0.20 |
% | |
Total |
$ |
18,691 |
|
46.18 |
% |
43.41 |
% | ||
MidCap Value
I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
28,503 |
|
1.34 |
% |
1.56 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
77,803 |
|
3.66 |
% |
3.33 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
54,708 |
|
2.57 |
% |
3.42 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
99,561 |
|
4.68 |
% |
4.59 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
408 |
|
0.02 |
% |
0.01 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
25,621 |
|
1.21 |
% |
1.64 |
% | |
Total |
$ |
286,604 |
|
13.48 |
% |
14.55 |
% | ||
MidCap Value
III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
89,200 |
|
9.89 |
% |
10.82 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
23,619 |
|
2.62 |
% |
2.67 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
730 |
|
0.08 |
% |
0.09 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
17,039 |
|
1.89 |
% |
3.33 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
235 |
|
0.03 |
% |
0.01 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
10,260 |
|
1.14 |
% |
1.51 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,713 |
|
1.08 |
% |
0.77 |
% | |
Total |
$ |
150,796 |
|
16.73 |
% |
19.20 |
% | ||
Overseas | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
126,863 |
|
9.86 |
% |
8.70 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
102,113 |
|
7.94 |
% |
12.74 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
65,352 |
|
5.08 |
% |
6.40 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
59,526 |
|
4.63 |
% |
5.33 |
% | |
|
Mellon Capital Management
Corporation |
Pershing LLC |
791 |
|
0.06 |
% |
0.13 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
13,525 |
|
1.05 |
% |
0.49 |
% | |
Total |
$ |
368,170 |
|
28.62 |
% |
33.79 |
% | ||
Principal
Capital Appreciation | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
13,756 |
|
4.75 |
% |
6.92 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
468 |
|
0.16 |
% |
0.16 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
6,393 |
|
2.21 |
% |
2.11 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
10,156 |
|
3.50 |
% |
5.77 |
% | |
Total |
$ |
30,773 |
|
10.62 |
% |
14.96 |
% | ||
Real Estate
Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
149,220 |
|
13.37 |
% |
17.06 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
13,704 |
|
1.23 |
% |
1.66 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
745 |
|
0.07 |
% |
0.17 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
25,578 |
|
2.29 |
% |
5.40 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
32,870 |
|
2.95 |
% |
4.37 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
27,580 |
|
2.47 |
% |
2.79 |
% | |
Total |
$ |
249,697 |
|
22.38 |
% |
31.45 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2013 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
SmallCap
Blend | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
41,959 |
|
3.51 |
% |
5.61 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
55,310 |
|
4.63 |
% |
4.26 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
647 |
|
0.05 |
% |
0.16 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
51,369 |
|
4.30 |
% |
5.43 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
43,956 |
|
3.68 |
% |
2.83 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
4,008 |
|
0.34 |
% |
0.52 |
% | |
Total |
$ |
197,249 |
|
16.51 |
% |
18.81 |
% | ||
SmallCap
Growth I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
10,683 |
|
0.43 |
% |
0.35 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
10,266 |
|
0.42 |
% |
0.33 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
77,861 |
|
3.15 |
% |
4.14 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
20,183 |
|
0.82 |
% |
1.41 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
139,144 |
|
5.63 |
% |
5.36 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
126,360 |
|
5.11 |
% |
4.80 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
21,350 |
|
0.86 |
% |
0.62 |
% | |
Total |
$ |
405,847 |
|
16.42 |
% |
17.01 |
% | ||
SmallCap
S&P 600 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
14,982 |
|
17.13 |
% |
16.61 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
12,712 |
|
14.53 |
% |
13.12 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
6,487 |
|
7.42 |
% |
7.47 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
81 |
|
0.09 |
% |
0.17 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
15 |
|
0.02 |
% |
0.04 |
% | |
Total |
$ |
34,277 |
|
39.19 |
% |
37.41 |
% | ||
SmallCap
Value II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
147,811 |
|
10.19 |
% |
9.78 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
4,261 |
|
0.29 |
% |
0.25 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
17 |
|
0.00 |
% |
0.00 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
7,662 |
|
0.53 |
% |
0.66 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
66,492 |
|
4.59 |
% |
3.52 |
% | |
Total |
$ |
226,243 |
|
15.60 |
% |
14.21 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Diversified
International | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
34,510 |
|
0.52 |
% |
0.74 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
80,070 |
|
1.21 |
% |
1.37 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
748,876 |
|
11.35 |
% |
10.76 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
419,846 |
|
6.36 |
% |
4.49 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
494,420 |
|
7.49 |
% |
7.93 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi Securities
Co. |
2,967 |
|
0.04 |
% |
0.04 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
438,744 |
|
6.65 |
% |
5.65 |
% | |
|
Mellon Capital Management
Corporation |
Pershing LLC |
606 |
|
0.01 |
% |
0.01 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
27,246 |
|
0.41 |
% |
0.61 |
% | |
Total |
$ |
2,247,285 |
|
34.04 |
% |
31.60 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Equity
Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
423,723 |
|
22.26 |
% |
20.32 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
10,760 |
|
0.57 |
% |
0.44 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
8,720 |
|
0.46 |
% |
0.72 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
66,511 |
|
3.49 |
% |
2.78 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
185,548 |
|
9.75 |
% |
8.15 |
% | |
Total |
$ |
695,262 |
|
36.53 |
% |
32.41 |
% | ||
Global
Diversified Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
98,562 |
|
6.41 |
% |
6.13 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
3,998 |
|
0.26 |
% |
0.18 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
68,813 |
|
4.48 |
% |
5.66 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
1,257 |
|
0.08 |
% |
0.21 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
64,543 |
|
4.20 |
% |
2.40 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
78,190 |
|
5.09 |
% |
5.06 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi Securities
Co. |
3,626 |
|
0.24 |
% |
0.13 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
35,539 |
|
2.31 |
% |
2.24 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
3,112 |
|
0.20 |
% |
0.44 |
% | |
|
Columbus Circle
Investors Edge Asset Management, Inc. Principal Global Investors, LLC Principal Real Estate Investors, LLC Spectrum Asset Management, Inc. |
Spectrum Asset Management,
Inc. |
99,353 |
|
6.46 |
% |
6.05 |
% | |
Total |
$ |
456,993 |
|
29.73 |
% |
28.50 |
% | ||
Global Real
Estate Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
97,406 |
|
4.34 |
% |
8.48 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
1,289 |
|
0.06 |
% |
0.08 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
112,592 |
|
5.02 |
% |
3.82 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
92 |
|
0.00 |
% |
0.01 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
27,668 |
|
1.23 |
% |
0.94 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
167,625 |
|
7.48 |
% |
6.61 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi Securities
Co. |
868 |
|
0.04 |
% |
0.04 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
54,599 |
|
2.43 |
% |
1.92 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
15,506 |
|
0.69 |
% |
1.17 |
% | |
Total |
$ |
477,645 |
|
21.29 |
% |
23.07 |
% | ||
High Yield
I | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
392 |
|
5.28 |
% |
3.87 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
32 |
|
0.42 |
% |
0.26 |
% | |
Total |
$ |
424 |
|
5.70 |
% |
4.13 |
% | ||
International
Emerging Markets | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
8,315 |
|
0.13 |
% |
0.44 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
531,959 |
|
8.20 |
% |
7.96 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
514,647 |
|
7.93 |
% |
6.72 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
458,337 |
|
7.06 |
% |
7.19 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
670,871 |
|
10.34 |
% |
10.28 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
36,691 |
|
0.57 |
% |
0.56 |
% | |
Total |
$ |
2,220,820 |
|
34.23 |
% |
33.15 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
International
I | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
219,025 |
|
14.86 |
% |
15.16 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
125,957 |
|
8.54 |
% |
7.43 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
107,396 |
|
7.28 |
% |
7.82 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi Securities
Co. |
1,480 |
|
0.10 |
% |
0.09 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
93,894 |
|
6.37 |
% |
5.10 |
% | |
|
Vaughan Nelson Investment
Management, LP |
Natixis Securities Americas
LLC |
32 |
|
0.00 |
% |
0.00 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
189 |
|
0.01 |
% |
0.01 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Tora Trading Services,
LLC |
247 |
|
0.02 |
% |
0.03 |
% | |
Total |
$ |
548,220 |
|
37.18 |
% |
35.64 |
% | ||
LargeCap
Blend II | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
45,573 |
|
7.87 |
% |
8.46 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
64,941 |
|
11.21 |
% |
11.74 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
219 |
|
0.04 |
% |
0.04 |
% | |
|
Herndon Capital
Management |
Jackson Securities,
LLC |
92 |
|
0.02 |
% |
0.02 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
59,490 |
|
10.27 |
% |
11.99 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
47,905 |
|
8.27 |
% |
7.65 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
21,546 |
|
3.72 |
% |
6.67 |
% | |
Total |
$ |
239,766 |
|
41.40 |
% |
46.57 |
% | ||
LargeCap
Growth | |||||||||
|
Goldman Sachs Asset Management,
L.P. |
BIDS Trading
L.P. |
$ |
67,349 |
|
2.59 |
% |
1.37 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
18,074 |
|
0.70 |
% |
0.82 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
47,662 |
|
1.83 |
% |
1.83 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
297,236 |
|
11.43 |
% |
13.89 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
56,593 |
|
2.18 |
% |
1.74 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
15,841 |
|
0.61 |
% |
0.06 |
% | |
Total |
$ |
502,755 |
|
19.34 |
% |
19.71 |
% | ||
LargeCap
Growth I | |||||||||
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
$ |
54,127 |
|
3.58 |
% |
5.75 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
118,708 |
|
7.84 |
% |
4.83 |
% | |
|
Herndon Capital
Management |
Jackson Securities,
LLC |
350 |
|
0.02 |
% |
0.02 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
113,662 |
|
7.51 |
% |
6.41 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
91,665 |
|
6.05 |
% |
6.33 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
36,675 |
|
2.42 |
% |
2.29 |
% | |
Total |
$ |
415,187 |
|
27.42 |
% |
25.63 |
% | ||
LargeCap
Growth II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
56,776 |
|
9.87 |
% |
4.67 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
46,290 |
|
8.05 |
% |
9.25 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
17,705 |
|
3.08 |
% |
4.02 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
60,224 |
|
10.47 |
% |
9.50 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
45,630 |
|
7.93 |
% |
11.23 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
43,459 |
|
7.55 |
% |
10.52 |
% | |
Total |
$ |
270,084 |
|
46.95 |
% |
49.19 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
LargeCap
S&P 500 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
15,082 |
|
35.68 |
% |
36.74 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
389 |
|
0.92 |
% |
0.13 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
14 |
|
0.03 |
% |
0.11 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
13,208 |
|
31.25 |
% |
31.00 |
% | |
Total |
$ |
28,693 |
|
67.88 |
% |
67.98 |
% | ||
LargeCap
Value | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
380,204 |
|
11.21 |
% |
15.83 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
134,066 |
|
3.95 |
% |
6.05 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
218 |
|
0.01 |
% |
0.05 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
7,842 |
|
0.23 |
% |
0.34 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
135,115 |
|
3.99 |
% |
5.14 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
55,151 |
|
1.63 |
% |
2.37 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
125,992 |
|
3.72 |
% |
4.69 |
% | |
Total |
$ |
838,588 |
|
24.74 |
% |
34.47 |
% | ||
LargeCap
Value I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
382,781 |
|
17.88 |
% |
18.05 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
34,215 |
|
1.60 |
% |
1.34 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
26 |
|
0.00 |
% |
0.00 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
150,147 |
|
7.01 |
% |
8.44 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
76,856 |
|
3.59 |
% |
3.29 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
1,504 |
|
0.07 |
% |
0.02 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
136,236 |
|
6.36 |
% |
5.58 |
% | |
Total |
$ |
781,765 |
|
36.51 |
% |
36.72 |
% | ||
LargeCap
Value III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
12,330 |
|
1.22 |
% |
0.93 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
8,618 |
|
0.85 |
% |
0.65 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
8,731 |
|
0.87 |
% |
0.90 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
9,233 |
|
0.91 |
% |
0.43 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
2,520 |
|
0.25 |
% |
0.25 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
57,338 |
|
5.68 |
% |
6.66 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
24,360 |
|
2.41 |
% |
1.68 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
38,876 |
|
3.85 |
% |
5.25 |
% | |
Total |
$ |
162,006 |
|
16.04 |
% |
16.75 |
% | ||
MidCap | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
145,672 |
|
7.17 |
% |
10.88 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
138 |
|
0.01 |
% |
0.03 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
43,019 |
|
2.12 |
% |
1.64 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
10,946 |
|
0.54 |
% |
1.28 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
2,907 |
|
0.14 |
% |
0.33 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
49,343 |
|
2.43 |
% |
3.10 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
33,397 |
|
1.64 |
% |
1.47 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
50,343 |
|
2.48 |
% |
3.29 |
% | |
Total |
$ |
335,765 |
|
16.53 |
% |
22.02 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
MidCap
Growth | |||||||||
|
Goldman Sachs Asset Management
LP |
BIDS Trading
L.P. |
$ |
4,675 |
|
1.12 |
% |
1.81 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
5,724 |
|
1.37 |
% |
1.26 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
9,727 |
|
2.34 |
% |
2.13 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
24,774 |
|
5.95 |
% |
4.68 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
5,834 |
|
1.40 |
% |
1.47 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
1,858 |
|
0.45 |
% |
0.46 |
% | |
Total |
$ |
52,592 |
|
12.63 |
% |
11.81 |
% | ||
MidCap
Growth III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
332,764 |
|
15.27 |
% |
6.77 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
67,260 |
|
3.09 |
% |
3.75 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
2,456 |
|
0.11 |
% |
0.12 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
73,331 |
|
3.36 |
% |
3.64 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
80,050 |
|
3.67 |
% |
3.60 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
51,810 |
|
2.38 |
% |
3.99 |
% | |
Total |
$ |
607,671 |
|
27.88 |
% |
21.87 |
% | ||
MidCap
S&P 400 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
94 |
|
0.33 |
% |
0.40 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
34 |
|
0.12 |
% |
0.18 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
39 |
|
0.14 |
% |
0.23 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
18 |
|
0.06 |
% |
0.10 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
34 |
0.12 |
% |
0.12 |
% | ||
Total |
$ |
219 |
|
0.77 |
% |
1.03 |
% | ||
MidCap Value
I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
28,904 |
|
1.59 |
% |
1.71 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
54,862 |
|
3.02 |
% |
1.99 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
55,220 |
|
3.04 |
% |
3.78 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
108,324 |
|
5.96 |
% |
4.65 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
105,774 |
|
5.82 |
% |
5.72 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
1,507 |
|
0.08 |
% |
0.04 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
37,311 |
|
2.05 |
% |
2.61 |
% | |
Total |
$ |
391,902 |
|
21.56 |
% |
20.50 |
% | ||
MidCap Value
III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
14,240 |
|
15.95 |
% |
16.83 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
4,727 |
|
5.30 |
% |
6.80 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
160 |
|
0.18 |
% |
0.29 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
1,009 |
|
1.13 |
% |
0.96 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
6,308 |
|
7.07 |
% |
8.75 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
1,185 |
|
1.33 |
% |
1.50 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
894 |
|
1.00 |
% |
0.98 |
% | |
|
Mellon Capital Management
Corporation |
Westminster Research Associates
LLC |
354 |
|
0.40 |
% |
0.13 |
% | |
Total |
$ |
28,877 |
|
32.36 |
% |
36.24 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Overseas | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
16,380 |
|
1.91 |
% |
1.73 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
41,485 |
|
4.83 |
% |
8.57 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
22,937 |
|
2.67 |
% |
1.94 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
51,381 |
|
5.98 |
% |
9.33 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi Securities
Co. |
3,136 |
|
0.37 |
% |
0.21 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
41,141 |
|
4.79 |
% |
4.12 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
10,640 |
|
1.24 |
% |
0.68 |
% | |
Total |
$ |
187,100 |
|
21.79 |
% |
26.58 |
% | ||
Principal
Capital Appreciation | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
6,810 |
|
3.18 |
% |
4.79 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
1,901 |
|
0.89 |
% |
1.24 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
4,163 |
|
1.94 |
% |
2.29 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
1,263 |
|
0.59 |
% |
0.43 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,782 |
|
4.57 |
% |
6.78 |
% | |
Total |
$ |
45,784 |
|
20.59 |
% |
15.04 |
% | ||
Real Estate
Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
212,996 |
|
16.15 |
% |
22.19 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
25,508 |
|
1.93 |
% |
1.88 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
373 |
|
0.03 |
% |
0.03 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
123 |
|
0.01 |
% |
0.01 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
70,325 |
|
5.33 |
% |
6.04 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
12,134 |
|
0.92 |
% |
1.05 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
37,716 |
|
2.86 |
% |
2.50 |
% | |
Total |
$ |
45,784 |
|
20.59 |
% |
15.04 |
% | ||
SmallCap
Blend | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
39,745 |
|
3.89 |
% |
6.81 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
24,066 |
|
2.35 |
% |
2.77 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
169 |
|
0.02 |
% |
0.03 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
54,004 |
|
5.28 |
% |
3.97 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
24,908 |
|
2.44 |
% |
1.75 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
7,197 |
|
0.70 |
% |
0.75 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
5,763 |
|
0.56 |
% |
0.59 |
% | |
Total |
$ |
155,852 |
|
15.24 |
% |
16.67 |
% | ||
SmallCap
Growth I | |||||||||
|
Goldman Sachs Asset Management,
L.P. |
BIDS Trading
L.P. |
$ |
11,256 |
|
0.48 |
% |
0.73 |
% |
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
28 |
|
0.00 |
% |
0.00 |
% | |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
13,890 |
|
0.59 |
% |
0.53 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
76,233 |
|
3.24 |
% |
3.28 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
25,697 |
|
1.09 |
% |
2.13 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
185,020 |
|
7.87 |
% |
7.61 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Securities,
LLC |
143 |
|
0.01 |
% |
0.01 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
120,054 |
|
5.11 |
% |
4.54 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
129,946 |
|
5.53 |
% |
3.94 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
6,774 |
|
0.29 |
% |
0.44 |
% | |
Total |
$ |
569,041 |
|
24.21 |
% |
23.21 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2012 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
SmallCap
S&P 600 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
862 |
|
2.76 |
% |
4.21 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
5,238 |
|
16.75 |
% |
16.35 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
46 |
|
0.15 |
% |
0.33 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
22 |
|
0.07 |
% |
0.12 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
64 |
|
0.20 |
% |
0.26 |
% | |
Total |
$ |
6,232 |
|
19.93 |
% |
21.27 |
% | ||
SmallCap
Value II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
6,942 |
|
0.56 |
% |
0.51 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
8,503 |
|
0.68 |
% |
0.66 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
181 |
|
0.01 |
% |
0.00 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
75,577 |
|
6.08 |
% |
4.13 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
87,590 |
|
7.04 |
% |
4.65 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
143 |
|
0.01 |
% |
0.01 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
8,517 |
|
0.68 |
% |
2.30 |
% | |
Total |
$ |
187,453 |
|
15.06 |
% |
12.26 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Diversified
International | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
24,399 |
|
0.57 |
% |
0.82 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
14,583 |
|
0.34 |
% |
0.23 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
304,394 |
|
7.10 |
% |
6.50 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
441,381 |
|
10.30 |
% |
11.26 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
34 |
|
0.00 |
% |
0.00 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
226,997 |
|
5.30 |
% |
3.82 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
265,671 |
|
6.20 |
% |
5.93 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi UFJ
Securities |
4,064 |
|
0.09 |
% |
0.08 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
332,213 |
|
7.75 |
% |
9.28 |
% | |
|
Vaughan Nelson Investment
Management, LP |
Natixis Securities North
America Inc. |
5,275 |
|
0.12 |
% |
0.23 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
10,498 |
|
0.24 |
% |
0.61 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
395,565 |
|
9.23 |
% |
8.77 |
% | |
Total |
$ |
2,025,074 |
|
47.24 |
% |
47.53 |
% | ||
Equity
Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
472,051 |
|
29.97 |
% |
22.78 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
29,067 |
|
1.85 |
% |
2.51 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
38,360 |
|
2.47 |
% |
2.37 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
2,464 |
|
0.16 |
% |
0.24 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
173,965 |
|
11.04 |
% |
11.08 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
31,636 |
|
2.01 |
% |
2.99 |
% | |
Total |
$ |
747,543 |
|
47.50 |
% |
41.97 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
Global
Diversified Income | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
74,130 |
|
6.16 |
% |
6.00 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
69,925 |
|
5.81 |
% |
6.21 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
67,377 |
|
5.60 |
% |
6.70 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
7,808 |
|
0.65 |
% |
2.31 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
33,195 |
|
2.76 |
% |
1.71 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
56,690 |
|
4.71 |
% |
5.00 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi UFJ
Securities |
6,293 |
|
0.52 |
% |
0.33 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
29,627 |
|
2.46 |
% |
1.86 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
15,379 |
|
1.28 |
% |
1.91 |
% | |
|
Columbus Circle
Investors Edge Asset Management, Inc. Principal Global Investors, LLC Principal Real Estate Investors, LLC Spectrum Asset Management, Inc. |
Spectrum Asset Management,
Inc. |
163,647 |
|
13.59 |
% |
13.51 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
86,316 |
|
7.17 |
% |
8.31 |
% | |
Total |
$ |
610,387 |
|
50.71 |
% |
53.85 |
% | ||
Global Real
Estate Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
7,723 |
|
1.19 |
% |
1.16 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
832 |
|
0.13 |
% |
0.07 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
75,862 |
|
11.67 |
% |
9.51 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
29,103 |
|
4.48 |
% |
4.21 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
123 |
|
0.02 |
% |
0.03 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
16,372 |
|
2.52 |
% |
1.57 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
29,293 |
|
4.50 |
% |
3.65 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
18,422 |
|
2.83 |
% |
3.50 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,002 |
|
1.38 |
% |
2.59 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
38,015 |
|
5.85 |
% |
6.70 |
% | |
Total |
$ |
224,747 |
|
34.57 |
% |
32.99 |
% | ||
High
Yield | |||||||||
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
$ |
3,000 |
|
4.55 |
% |
24.92 |
% |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.
LLC |
67 |
|
0.10 |
% |
0.08 |
% | |
Total |
$ |
3,067 |
|
4.65 |
% |
25.00 |
% | ||
High Yield
I | |||||||||
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
$ |
63 |
|
0.51 |
% |
0.31 |
% |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
419 |
|
3.39 |
% |
2.05 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
440 |
|
3.57 |
% |
2.46 |
% | |
Total |
$ |
922 |
|
7.47 |
% |
4.82 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
International
Emerging Markets | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
11,743 |
|
0.21 |
% |
0.58 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
569,380 |
|
10.36 |
% |
10.26 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
360,175 |
|
6.55 |
% |
6.92 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
316 |
|
0.01 |
% |
0.05 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
495,061 |
|
9.01 |
% |
7.55 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
446,612 |
|
8.13 |
% |
8.53 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
552,533 |
|
10.05 |
% |
8.81 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
566,230 |
|
10.30 |
% |
9.59 |
% | |
Total |
$ |
3,002,050 |
|
54.62 |
% |
52.29 |
% | ||
International
I | |||||||||
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
$ |
195,003 |
|
6.91 |
% |
6.38 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
357,061 |
|
12.65 |
% |
12.68 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
246,948 |
|
8.75 |
% |
8.09 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
JP Morgan Cazenove
Limited |
1,874 |
|
0.07 |
% |
0.04 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
180,226 |
|
6.38 |
% |
4.55 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi UFJ
Securities |
1,208 |
|
0.04 |
% |
0.05 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
261,077 |
|
9.25 |
% |
9.16 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
722 |
|
0.03 |
% |
0.02 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
195,042 |
|
6.91 |
% |
9.42 |
% | |
Total |
$ |
1,439,161 |
|
50.99 |
% |
50.39 |
% | ||
LargeCap
Blend II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
8 |
|
0.00 |
% |
0.00 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
155 |
|
0.02 |
% |
0.02 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
13,060 |
|
2.04 |
% |
2.68 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
24,023 |
|
3.76 |
% |
3.88 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
62,740 |
|
9.82 |
% |
8.12 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Capital Markets
LLC |
12 |
|
0.00 |
% |
0.00 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
40,442 |
|
6.33 |
% |
6.02 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
50,001 |
|
7.82 |
% |
6.32 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
63 |
|
0.01 |
% |
0.00 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
11,371 |
|
1.78 |
% |
3.21 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS FInancial Services
Inc. |
1,894 |
|
0.30 |
% |
0.41 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
7,285 |
|
1.14 |
% |
0.81 |
% | |
Total |
$ |
211,054 |
|
33.02 |
% |
31.47 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
LargeCap
Growth | |||||||||
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
$ |
23,018 |
|
0.88 |
% |
0.66 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
44,781 |
|
1.71 |
% |
0.96 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
116,306 |
|
4.45 |
% |
3.58 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
27,425 |
|
1.05 |
% |
1.62 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
362,866 |
|
13.88 |
% |
13.05 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
46,826 |
|
1.79 |
% |
2.39 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
29,899 |
|
1.14 |
% |
0.82 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
57,108 |
|
2.18 |
% |
1.72 |
% | |
Total |
$ |
708,229 |
|
27.08 |
% |
24.80 |
% | ||
LargeCap
Growth I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
180 |
|
0.01 |
% |
0.02 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
1,020 |
|
0.06 |
% |
0.02 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
42,083 |
|
2.62 |
% |
2.49 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
59,410 |
|
3.70 |
% |
6.46 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
137,617 |
|
8.56 |
% |
6.24 |
% | |
|
Guggenheim Partners Investment
Management, LLC |
Guggenheim Capital Markets
LLC |
870 |
|
0.05 |
% |
0.04 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
125,912 |
|
7.83 |
% |
9.76 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
82,499 |
|
5.13 |
% |
3.76 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
12 |
|
0.00 |
% |
0.00 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
25,916 |
|
1.61 |
% |
1.49 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS FInancial Services
Inc. |
3,563 |
|
0.22 |
% |
0.23 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
29,582 |
|
1.84 |
% |
2.15 |
% | |
Total |
$ |
508,664 |
|
31.63 |
% |
32.66 |
% | ||
LargeCap
Growth II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
213,221 |
|
24.47 |
% |
15.61 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
41,334 |
|
4.74 |
% |
7.20 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
37,848 |
|
4.34 |
% |
3.46 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
11,991 |
|
1.38 |
% |
2.10 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
58,010 |
|
6.66 |
% |
7.01 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
27,689 |
|
3.18 |
% |
4.25 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
31,968 |
|
3.67 |
% |
5.69 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS FInancial Services
Inc. |
8,076 |
|
0.93 |
% |
0.69 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
35,254 |
|
4.05 |
% |
7.34 |
% | |
Total |
$ |
465,391 |
|
53.42 |
% |
53.35 |
% | ||
LargeCap
S&P 500 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
881 |
|
2.02 |
% |
2.30 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
546 |
|
1.25 |
% |
3.03 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
43 |
|
0.10 |
% |
0.16 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
26 |
|
0.06 |
% |
0.09 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
59 |
|
0.14 |
% |
0.22 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
351 |
|
0.80 |
% |
1.27 |
% | |
Total |
$ |
1,906 |
|
4.37 |
% |
7.07 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
LargeCap
Value | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
316,813 |
|
8.15 |
% |
8.25 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
134,391 |
|
3.46 |
% |
6.69 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
77,188 |
|
1.98 |
% |
2.78 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
19,259 |
|
0.50 |
% |
1.67 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
6,577 |
|
0.17 |
% |
0.08 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
184,935 |
|
4.76 |
% |
7.21 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
65,046 |
|
1.67 |
% |
2.95 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
180,849 |
|
4.65 |
% |
8.41 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
164,010 |
|
4.22 |
% |
4.87 |
% | |
Total |
$ |
1,149,068 |
|
29.56 |
% |
42.91 |
% | ||
LargeCap
Value I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
417,184 |
|
12.42 |
% |
12.03 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
201,865 |
|
6.01 |
% |
4.57 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
115,111 |
|
3.43 |
% |
3.35 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
88,166 |
|
2.62 |
% |
1.42 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
136,372 |
|
4.06 |
% |
3.82 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
82,630 |
|
2.46 |
% |
1.89 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
156,117 |
|
4.65 |
% |
4.68 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Financial Services
Inc. |
9,690 |
|
0.29 |
% |
0.16 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
55,264 |
|
1.65 |
% |
2.92 |
% | |
Total |
$ |
1,207,135 |
|
35.94 |
% |
31.92 |
% | ||
LargeCap
Value III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
441 |
|
0.02 |
% |
0.03 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
5,211 |
|
0.27 |
% |
0.09 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
72,467 |
|
3.77 |
% |
3.65 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
72,064 |
|
3.75 |
% |
3.29 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
27,990 |
|
1.46 |
% |
1.30 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
145,875 |
|
7.58 |
% |
3.82 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
99,866 |
|
5.19 |
% |
7.33 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
109,268 |
|
5.68 |
% |
4.21 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
23,172 |
|
1.20 |
% |
1.26 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
78,893 |
|
4.10 |
% |
5.35 |
% | |
Total |
$ |
635,247 |
|
33.02 |
% |
30.33 |
% | ||
MidCap | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
39,226 |
|
3.32 |
% |
5.91 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
11,203 |
|
0.95 |
% |
1.10 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
30,487 |
|
2.58 |
% |
2.95 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
208 |
|
0.02 |
% |
0.10 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
4,622 |
|
0.39 |
% |
0.17 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
11,341 |
|
0.96 |
% |
1.70 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
18,797 |
|
1.59 |
% |
1.36 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
24,333 |
|
2.06 |
% |
2.61 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
19,722 |
|
1.67 |
% |
2.24 |
% | |
Total |
$ |
159,939 |
|
13.54 |
% |
18.14 |
% |
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
MidCap
Growth | |||||||||
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
$ |
6,283 |
|
1.63 |
% |
2.39 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
6,772 |
|
1.76 |
% |
1.56 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
8,316 |
|
2.16 |
% |
2.95 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
5,033 |
|
1.31 |
% |
2.46 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
17,781 |
|
4.62 |
% |
3.50 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
15,448 |
|
4.01 |
% |
2.88 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
5,060 |
|
1.31 |
% |
1.39 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
13,120 |
|
3.41 |
% |
2.17 |
% | |
Total |
$ |
77,813 |
|
20.21 |
% |
19.30 |
% | ||
MidCap
Growth III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
177,888 |
|
10.62 |
% |
4.69 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
12,686 |
|
0.76 |
% |
0.27 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
166,719 |
|
9.95 |
% |
13.26 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
42 |
|
0.00 |
% |
0.00 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
7,613 |
|
0.45 |
% |
0.23 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
59,545 |
|
3.55 |
% |
2.73 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
36,217 |
|
2.16 |
% |
2.24 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
15,842 |
|
0.95 |
% |
1.28 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS FInancial Services
Inc. |
3,131 |
|
0.19 |
% |
0.10 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
156,680 |
|
9.35 |
% |
8.88 |
% | |
Total |
$ |
636,363 |
|
20.59 |
% |
15.04 |
% | ||
MidCap
S&P 400 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
4,075 |
|
10.84 |
% |
11.23 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
587 |
|
1.56 |
% |
3.37 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
69 |
|
0.18 |
% |
0.28 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
2,546 |
|
6.77 |
% |
6.44 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
1,262 |
|
3.36 |
% |
0.75 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
37 |
0.10 |
% |
0.25 |
% | ||
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
10,598 |
|
28.19 |
% |
28.11 |
% | |
Total |
$ |
19,174 |
|
51.00 |
% |
50.43 |
% | ||
MidCap Value
I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
503 |
|
0.03 |
% |
0.05 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
58,601 |
|
3.03 |
% |
2.04 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
96,665 |
|
5.00 |
% |
3.61 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
53,499 |
|
2.76 |
% |
3.42 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
109,535 |
|
5.66 |
% |
5.48 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
106,449 |
|
5.50 |
% |
3.63 |
% | |
|
Pyramis Global Advisors,
LLC |
National Financial Services,
LLC |
1,221 |
|
0.06 |
% |
0.16 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
36,975 |
|
1.91 |
% |
2.04 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
72,691 |
|
3.76 |
% |
2.58 |
% | |
Total |
$ |
536,139 |
|
27.71 |
% |
23.01 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
MidCap Value
III | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
7,485 |
|
4.49 |
% |
5.77 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
4,538 |
|
2.72 |
% |
2.96 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
1,391 |
|
0.83 |
% |
0.91 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
885 |
|
0.53 |
% |
1.20 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
926 |
|
0.56 |
% |
0.54 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
7,348 |
|
4.41 |
% |
6.29 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
10,861 |
|
6.52 |
% |
9.09 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,576 |
|
5.75 |
% |
5.90 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
4,933 |
|
2.96 |
% |
3.32 |
% | |
Total |
$ |
47,943 |
|
28.77 |
% |
35.98 |
% | ||
Overseas | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
26,174 |
|
2.01 |
% |
1.96 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
1,405 |
|
0.11 |
% |
0.05 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
57,163 |
|
4.38 |
% |
3.05 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
93,530 |
|
7.17 |
% |
6.90 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
18,881 |
|
1.45 |
% |
0.86 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
32,466 |
|
2.49 |
% |
2.06 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Mitsubishi UFJ
Securities |
4,743 |
|
0.36 |
% |
0.23 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
162,326 |
|
12.45 |
% |
18.67 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
12,557 |
|
0.96 |
% |
0.57 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
75,718 |
|
5.81 |
% |
9.31 |
% | |
|
Mellon Capital Management
Corporation |
Westminster Research Associates
LLC |
4,450 |
|
0.34 |
% |
0.10 |
% | |
Total |
$ |
489,413 |
|
37.53 |
% |
43.76 |
% | ||
Principal
Capital Appreciation | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
27,127 |
|
6.03 |
% |
9.75 |
% |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
14,122 |
|
3.14 |
% |
2.99 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
14,162 |
|
3.15 |
% |
3.24 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
18,997 |
|
4.22 |
% |
3.78 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
26,210 |
|
5.82 |
% |
6.12 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
4,071 |
|
0.90 |
% |
1.50 |
% | |
Total |
$ |
104,689 |
|
23.26 |
% |
27.38 |
% | ||
Real Estate
Securities | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
28,742 |
|
3.05 |
% |
4.12 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
20,949 |
|
2.22 |
% |
2.45 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
32,163 |
|
3.41 |
% |
5.40 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
2,295 |
|
0.24 |
% |
0.63 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
2,863 |
|
0.30 |
% |
0.45 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
57,123 |
|
6.06 |
% |
10.02 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
18,612 |
|
1.98 |
% |
1.56 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
71,457 |
|
7.59 |
% |
10.69 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
79,828 |
|
8.47 |
% |
8.48 |
% | |
Total |
$ |
314,032 |
|
33.32 |
% |
43.80 |
% | ||
Fund |
Sub-Advisor
Employed by the Fund Complex |
Affiliated
Broker Receiving Commissions |
2011 Fund's Total Commissions Paid |
% of Fund's Total Commissions |
%
of Dollar Amount of Fund's Commissionable Transactions | ||||
SmallCap
Blend | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
6,616 |
|
1.05 |
% |
1.51 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
22,859 |
|
3.64 |
% |
2.39 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
22,690 |
|
3.61 |
% |
3.63 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
2,432 |
|
0.39 |
% |
0.84 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
24,116 |
|
3.84 |
% |
4.24 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
14,187 |
|
2.26 |
% |
3.02 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
7,233 |
|
1.15 |
% |
1.42 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
2,474 |
|
0.39 |
% |
0.20 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
28,523 |
|
4.54 |
% |
4.73 |
% | |
Total |
$ |
131,130 |
|
20.87 |
% |
21.98 |
% | ||
SmallCap
Growth I | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
7,724 |
|
0.29 |
% |
0.32 |
% |
|
American Century Investment
Management, Inc. |
CIBC World Markets
Corp. |
50,580 |
|
1.91 |
% |
1.67 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
70,773 |
|
2.67 |
% |
3.43 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
103,615 |
|
3.90 |
% |
3.21 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
40,809 |
|
1.54 |
% |
2.39 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
124,558 |
|
4.69 |
% |
4.05 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
116,629 |
|
4.39 |
% |
3.89 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
132,864 |
|
5.00 |
% |
2.57 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
5,074 |
|
0.19 |
% |
0.25 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
138,731 |
|
5.23 |
% |
4.82 |
% | |
Total |
$ |
791,357 |
|
29.81 |
% |
26.60 |
% | ||
SmallCap
S&P 600 Index | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
6,811 |
|
19.08 |
% |
19.98 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
832 |
|
2.33 |
% |
4.85 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
5,090 |
|
14.26 |
% |
12.79 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
30 |
|
0.08 |
% |
0.12 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
22 |
|
0.06 |
% |
0.09 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
75 |
|
0.21 |
% |
0.49 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
10,490 |
|
29.38 |
% |
28.96 |
% | |
Total |
$ |
23,350 |
|
65.40 |
% |
67.28 |
% | ||
SmallCap
Value II | |||||||||
|
Mellon Capital Management
Corporation |
BNY ConvergEx Execution
Solutions LLC |
$ |
19,042 |
|
1.56 |
% |
1.20 |
% |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Citigroup Global Markets
Limited |
15,214 |
|
1.25 |
% |
1.24 |
% | |
|
Credit Suisse Asset Management,
LLC |
Credit Suisse,
Inc. |
17,596 |
|
1.44 |
% |
1.12 |
% | |
|
Pyramis Global Advisors,
LLC |
Fidelity Brokerage Services,
LLC |
430 |
|
0.04 |
% |
0.03 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
Goldman Sachs &
Co. |
212 |
|
0.02 |
% |
0.02 |
% | |
|
J.P. Morgan Investment
Management, Inc. |
J.P. Morgan Securities
LLC |
46,823 |
|
3.84 |
% |
3.22 |
% | |
|
Morgan Stanley Investment
Management Inc. (doing business as Van Kampen) |
Morgan Stanley & Co.,
LLC |
33,381 |
|
2.73 |
% |
3.45 |
% | |
|
AllianceBernstein
L.P. |
Sanford C. Bernstein & Co.,
LLC |
9,869 |
|
0.81 |
% |
0.41 |
% | |
|
UBS Global Asset Management
(Americas) Inc. |
UBS Securities
LLC |
4,805 |
|
0.39 |
% |
0.25 |
% | |
|
Goldman Sachs Asset Management,
L.P. |
UNX |
39,317 |
|
3.22 |
% |
3.02 |
% | |
Total |
$ |
186,689 |
|
15.30 |
% |
13.96 |
% |
Holdings of
Securities of Principal Funds, Inc. Regular Brokers and
Dealers | ||||
Fund |
Broker or
Dealer |
Holdings
(in
thousands) | ||
Bond & Mortgage Securities
Fund |
Bank of America
Corp |
|
$40,840 |
|
Bank of New York Mellon
Corp/The |
1,255 |
| ||
Citigroup Inc |
9,940 |
| ||
Deutsche Bank
AG |
32,758 |
| ||
Goldman Sachs Group
Inc/The |
18,539 |
| ||
Morgan Stanley |
40,494 |
| ||
UBS AG |
9,282 |
| ||
Core Plus Bond Fund
I |
Bank of America
Corp |
92,448 |
| |
Citigroup Inc |
47,705 |
| ||
Morgan Stanley |
3,351 |
| ||
Diversified International
Fund |
Bank of America
Corp |
22,788 |
| |
Deutsche Bank
AG |
48,696 |
| ||
Equity Income
Fund |
Bank of America
Corp |
21,871 |
| |
Deutsche Bank
AG |
46,736 |
| ||
Global Diversified Income
Fund |
Bank of America
Corp |
78,384 |
| |
Bank of New York Mellon
Corp/The |
1,678 |
| ||
Citigroup Inc |
62,250 |
| ||
Deutsche Bank
AG |
79,501 |
| ||
Goldman Sachs Group
Inc/The |
19,852 |
| ||
Morgan Stanley |
60,996 |
| ||
UBS AG |
24,203 |
| ||
Government & High Quality
Bond Fund |
Bank of America
Corp |
14,125 |
| |
Citigroup Inc |
26,805 |
| ||
Deutsche Bank
AG |
8,064 |
| ||
Morgan Stanley |
60,418 |
| ||
High Yield Fund |
Bank of America
Corp |
44,716 |
| |
Deutsche Bank
AG |
95,556 |
| ||
Morgan Stanley |
10,856 |
| ||
UBS AG |
30,897 |
| ||
High Yield Fund
I |
Bank of America
Corp |
18,783 |
| |
Citigroup Inc |
1,794 |
| ||
Deutsche Bank
AG |
29,614 |
| ||
Income Fund |
Bank of America
Corp |
42,395 |
| |
Citigroup Inc |
20,873 |
| ||
Deutsche Bank
AG |
28,803 |
| ||
Goldman Sachs Group
Inc/The |
25,714 |
| ||
Morgan Stanley |
16,998 |
| ||
Inflation Protection
Fund |
Bank of America
Corp |
1,602 |
| |
International Emerging Markets
Fund |
Bank of America
Corp |
7,154 |
| |
Deutsche Bank
AG |
15,287 |
| ||
International Fund
I |
Bank of America
Corp |
1,753 |
| |
Deutsche Bank
AG |
11,389 |
| ||
UBS AG |
2,382 |
|
Holdings of
Securities of Principal Funds, Inc. Regular Brokers and
Dealers | ||||
LargeCap Blend Fund
II |
Bank of America
Corp |
5,632 |
| |
Bank of New York Mellon
Corp/The |
366 |
| ||
Citigroup Inc |
14,268 |
| ||
Deutsche Bank
AG |
6,873 |
| ||
Goldman Sachs Group
Inc/The |
802 |
| ||
Morgan Stanley |
1,134 |
| ||
LargeCap Growth
Fund |
Bank of America
Corp |
8,826 |
| |
Deutsche Bank
AG |
18,861 |
| ||
LargeCap Growth Fund
I |
Bank of America
Corp |
31,686 |
| |
Deutsche Bank
AG |
67,712 |
| ||
Morgan Stanley |
37,297 |
| ||
LargeCap Growth Fund
II |
Bank of America
Corp |
9,673 |
| |
Deutsche Bank
AG |
20,670 |
| ||
LargeCap S&P 500 Index
Fund |
Bank of America
Corp |
56,434 |
| |
Bank of New York Mellon
Corp/The |
8,389 |
| ||
Citigroup Inc |
34,014 |
| ||
Deutsche Bank
AG |
47,109 |
| ||
Goldman Sachs Group
Inc/The |
15,405 |
| ||
Morgan Stanley |
9,161 |
| ||
LargeCap Value
Fund |
Bank of America
Corp |
10,673 |
| |
Citigroup Inc |
84,605 |
| ||
Deutsche Bank
AG |
22,807 |
| ||
Goldman Sachs Group
Inc/The |
93,191 |
| ||
LargeCap Value Fund
I |
Bank of America
Corp |
9,838 |
| |
Bank of New York Mellon
Corp/The |
427 |
| ||
Citigroup Inc |
13,623 |
| ||
Deutsche Bank
AG |
17,332 |
| ||
Goldman Sachs Group
Inc/The |
10,048 |
| ||
Morgan Stanley |
500 |
| ||
LargeCap Value Fund
III |
Bank of America
Corp |
52,528 |
| |
Bank of New York Mellon
Corp/The |
1,252 |
| ||
Citigroup Inc |
22,621 |
| ||
Deutsche Bank
AG |
34,753 |
| ||
Goldman Sachs Group
Inc/The |
2,480 |
| ||
Morgan Stanley |
1,466 |
| ||
MidCap Fund |
Bank of America
Corp |
6,546 |
| |
Deutsche Bank
AG |
13,988 |
| ||
MidCap Growth
Fund |
Bank of America
Corp |
304 |
| |
Deutsche Bank
AG |
649 |
| ||
MidCap Growth Fund
III |
Bank of America
Corp |
12,402 |
| |
Deutsche Bank
AG |
26,503 |
| ||
MidCap S&P 400 Index
Fund |
Bank of America
Corp |
4,122 |
| |
Deutsche Bank
AG |
8,808 |
| ||
MidCap Value Fund
I |
Bank of America
Corp |
10,110 |
| |
Bank of New York Mellon
Corp/The |
1,665 |
| ||
Deutsche Bank
AG |
21,605 |
| ||
Morgan Stanley |
236 |
| ||
MidCap Value Fund
III |
Bank of America
Corp |
5,074 |
| |
Deutsche Bank
AG |
10,843 |
| ||
Money Market
Fund |
Bank of America
Corp |
14,400 |
| |
Deutsche Bank
AG |
53,775 |
| ||
Goldman Sachs Group
Inc/The |
28,000 |
|
Holdings of
Securities of Principal Funds, Inc. Regular Brokers and
Dealers | ||||
Overseas Fund |
Bank of America
Corp |
6,233 |
| |
Deutsche Bank
AG |
15,372 |
| ||
UBS AG |
26,305 |
| ||
Principal Capital Appreciation
Fund |
Bank of America
Corp |
8,452 |
| |
Deutsche Bank
AG |
18,062 |
| ||
Goldman Sachs Group
Inc/The |
9,426 |
| ||
Real Estate Securities
Fund |
Bank of America
Corp |
1,438 |
| |
Deutsche Bank
AG |
3,072 |
| ||
Short-Term Income
Fund |
Bank of America
Corp |
46,800 |
| |
Citigroup Inc |
35,328 |
| ||
Deutsche Bank
AG |
8,023 |
| ||
Goldman Sachs Group
Inc/The |
16,196 |
| ||
Morgan Stanley |
35,573 |
| ||
SmallCap Blend
Fund |
Bank of America
Corp |
3,368 |
| |
Deutsche Bank
AG |
7,196 |
| ||
SmallCap Growth Fund
I |
Bank of America
Corp |
18,358 |
| |
Deutsche Bank
AG |
39,230 |
| ||
SmallCap S&P 600 Index
Fund |
Bank of America
Corp |
2,566 |
| |
Deutsche Bank
AG |
5,483 |
| ||
SmallCap Value Fund
II |
Bank of America
Corp |
11,781 |
| |
Deutsche Bank
AG |
25,175 |
|
• |
Principal serves as the
investment adviser to the underlying mutual funds in which Principal
LifeTime Funds invest, and PGI or an affiliated investment adviser may
serve as sub-adviser to the mutual funds in which Principal
|
• |
Principal or an affiliated
person may serve as investment adviser to a portion of a Multi-Managed
Fund. This raises a potential conflict because Principal's or an
affiliated investment adviser's profit margin may vary depending on the
extent to which a Multi-Managed Fund's assets are managed by Principal or
allocated to an affiliated adviser. |
• |
A sub-advisor may determine
that the asset class PFI has hired it to manage (for example, small
capitalization growth stocks) can be managed effectively only by limiting
the amount of money devoted to the purchase of securities in the asset
class. In such a case, a sub-advisor may impose a limit on the amount of
money PFI may place with the sub-advisor for management. When a
sub-advisor for two or more PFI Funds imposes such a limit, Principal
and/or the sub-advisor may need to determine which Fund will be required
to limit its investment in the asset class and the degree to which the
Fund will be so limited. Principal and the sub-advisor may face a conflict
of interest in making its determination. |
• |
Maintains a documented,
systematic methodology for determining into which mutual funds the
Principal LifeTime Funds invest that does not give undue consideration to
the impact to Principal, PGI, or
affiliates. |
• |
Maintains a documented,
systematic methodology for determining the portions of a Multi-Managed
Fund to be allocated to a sub-adviser that does not give undue
consideration to the impact to Principal or its
affiliates; |
• |
Reminds its investment
personnel who provide services to the Principal LifeTime Funds or
Multi-Managed Funds of Principal's inherent conflicts of interest, and
Principal's duties of loyalty and care as a fiduciary, and obtains a
quarterly written affirmation from each portfolio manager that he/she has
employed the applicable methodology in good faith in making investment
decisions during the preceding quarter;
and |
• |
Principal's Investment
Oversight and Risk Committee monitors the services provided to the
Principal LifeTime Funds and Multi-Managed Funds to ensure such services
conform to the applicable investment methodology, that undue consideration
is not given to Principal or its affiliates, and that such services
reflect Principal's duties of loyalty and care as a
fiduciary. |
• |
Shareholders, including those
in omnibus accounts, who own shares of the MidCap Fund as of June 14, 2013
(for retail investors, i.e., non-employer sponsored retirement plan
investors) or August 15, 2013 (for employer sponsored retirement plan
investors), may continue to make purchases, exchanges, and dividend or
capital gains reinvestment in existing
accounts. |
• |
Registered Investment Advisor
(RIA) and bank trust firms that have an investment allocation to the
MidCap Fund in a fee-based, wrap or advisory account, may continue to add
new clients, purchase shares, and exchange into the MidCap Fund. The
MidCap Fund will not be available to new RIA and bank trust firms.
|
• |
Shareholders through accounts
at private banks may continue to purchase shares and exchange into the
MidCap Fund. Private banks that have an investment allocation to the
MidCap Fund may add new clients. The MidCap Fund will not be available to
private bank or private bank platforms not already investing in the MidCap
Fund. |
• |
Shareholders in broker/dealer
wrap or fee-based programs that have an investment allocation to the
MidCap Fund may continue to purchase shares and exchange into the MidCap
Fund. Existing broker/dealer wrap or fee-based programs may add new
participants. |
• |
Shareholders in certain types
of retirement plans (including 401(k)s, SEPs, SIMPLEs, 403(b)s, etc.) may
continue to purchase shares and exchange into the MidCap Fund. New
participants in these plans may elect to purchase shares of the MidCap
Fund. |
• |
Retirement plans in transition
as of the closure date will have until August 15, 2013, to fund any new
accounts. |
• |
Investors who open a new IRA
transfer or rollover account by the close of business on June 14, 2013,
will have until August 15, 2013, to fund these
accounts. |
• |
Shareholders within brokerage
accounts may continue to purchase shares of the MidCap Fund; however, new
brokerage accounts will not be permitted to begin investing in the MidCap
Fund after June 14, 2013. |
• |
529 plans that include the
MidCap Fund within their investment options may continue to purchase
shares and exchange into the MidCap Fund. |
• |
Funds of funds, such as the
Strategic Asset Management (SAM) Portfolios and Principal LifeTime Funds,
may continue to invest in the MidCap
Fund. |
• |
Your financial intermediary
must notify Principal Funds of your intent to exchange into Class P shares
or, if applicable as described above, Class A shares prior to attempting
the exchange; |
• |
While no initial sales charge
(load) will apply to such an exchange, depending on the circumstances,
other sales charges may apply. |
• |
taking the current market
value of the total assets of the Fund |
• |
subtracting liabilities of the
Fund |
• |
dividing the remainder
proportionately into the classes of the
Fund |
• |
subtracting the liability of
each class |
• |
dividing the remainder by the
total number of shares owned in that
class. |
1) |
Daily to the Fund's portfolio
pricing services, Interactive Data Corporation, J.J. Kenny, Standard &
Poor’s Securities Evaluations, Inc., Markit Partners, and J.P. Morgan
PricingDirect, Inc. to obtain prices for portfolio
securities; |
2) |
Upon proper request to
government regulatory agencies or to self regulatory
organizations; |
3) |
As needed to Ernst & Young
LLP, the independent registered public accounting firm, in connection with
the performance of the services provided by Ernst & Young LLP to the
Fund; |
4) |
To the sub-advisers' proxy
service providers (Automatic Data Processing, Glass Lewis & Co., and
Institutional Shareholder Services (ISS)) to facilitate voting of proxies;
and |
5) |
To the Fund's custodian, and
tax service provider, The Bank of New York Mellon, in connection with the
tax and custodial services it provides to the
Fund. |
Abel Noser |
ITG |
Advent |
ITG Plexus |
Advent Custodial Data
(ACD) |
JPMorgan Worldwide Securities
Services |
Barclays |
Lend Amend |
Barra |
LexisNexis |
BDO |
Mathias &
Carr |
Bloomberg |
Mellon Analytical
Solutions |
Broadridge Financial Solutions,
Inc. |
Misys International Banking
Systems, Inc. |
Brown Brothers
Harriman |
Morningstar,
Inc. |
Charles River
Development |
Omgeo LLC |
Charles River Systems,
Inc. |
PricewaterhouseCoopers |
Citibank |
Principal Global Investors,
LLC |
Compliance
Science |
RiskMetrics |
Confidential
Shredding |
RR Donnelley and
Sons |
Confluence
Technologies |
Russell Implementation
Services |
Cortland Capital Market
Services LLC |
Securities Class Action
Services, LLC |
Deloitte |
State Street |
Diversified Information
Technologies, Inc. |
State Street Investment
Management Solutions |
Eagle Investment Systems
Corp. |
SunGard Investment Management
Systems |
Electra Information
Systems |
SunGard Personal Trading
System |
Electra Securities &
Reconciliation System |
SunGard/Protogent
PTA |
Eze Castle Software
LLC |
Syntel Inc. |
Eze Software
Group |
Thomson |
FactSet |
Thomson
Baseline |
Financial Recovery Technologies
(FRT) |
Thomson Reuters
Analysis |
Financial Tracking Technologies
LLC |
Wilshire |
Fiserv |
Wolters
Kluwer |
INDATA |
WSO
Corporation |
Infinit-O |
Yield Book |
Investment Company Institute
(ICI) |
Zeno Consulting
Group |
Iron Mountain |
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
CALIFORNIA
MUNICIPAL |
48.50% |
JP MORGAN CLEARING CORP
|
NEW YORK |
JPMorgan Chase &
Co. |
OMNIBUS ACCT FBO CUSTOMERS
|
||||
3 CHASE METROTECH CENTER
|
||||
3RD FL MUTUAL FUND DEPT
|
||||
BROOKLYN NY 11245-0001
|
||||
CORE PLUS BOND I
|
47.33% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO ANDY WARHOL
FOUNDATION |
GUARANTEE AND
TRUST | |||
RETIREMENT PLAN |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
DIVERSIFIED
INTERNATIONAL |
31.68% |
DELAWARE CHARTER GUARANTEE
TRUST |
DELAWARE |
DELAWARE CHARTER
|
CUST FBO LAWRENCE E SABIN
JR |
GUARANTEE AND
TRUST | |||
401(K) PLAN |
||||
PO BOX 593, MODESTO CA
95353-0593 |
||||
EQUITY INCOME |
32.88% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
GOLD STAR ELECTRIC
PPS |
GUARANTEE AND
TRUST | |||
CHARLES P
CHAMBERS |
||||
PO BOX 231223 |
||||
ANCHORAGE AK
99523-1223 |
||||
GOVERNMENT &
HIGH |
25.57% |
SAM BALANCED PORTFOLIO PIF
|
MARYLAND |
PRINCIPAL FUNDS,
INC. |
QUALITY BOND |
ATTN MUTUAL FUND ACCOUNTING
-H221 |
|||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
HIGH YIELD I |
27.96% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN RIS NPIO TRADE DESK
|
||||
711 HIGH STREET |
||||
DES MOINES IA 50392-9992
|
||||
HIGH YIELD I |
33.58% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PLIC VARIOUS RETIREMENT
PLANS |
GUARANTEE AND
TRUST | |||
OMNIBUS |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST, DES MOINES IA
50392-0001 |
||||
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
INFLATION
PROTECTION |
26.14% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO SUPERIOR OFFICERS COUNCIL
CUST |
GUARANTEE AND
TRUST | |||
INV FOF |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST, DES MOINES IA
50392-0001 |
||||
INTERNATIONAL I |
77.07% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LARGECAP BLEND
II |
68.40% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LARGECAP GROWTH
I |
33.13% |
BANKERS TRUST |
IOWA |
BANKERS
TRUST |
FBO PRIN SELECT SVNG EXC
PLAN |
||||
INDV PLAN |
||||
ATTN MARK HARRISON
|
||||
453 7TH ST, DES MOINES IA
50309-4110 |
||||
LARGECAP GROWTH
II |
62.13% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LARGECAP S&P 500
INDEX |
29.76% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
CUST FBO JENNIFER MOWERY
ORECHWA |
GUARANTEE AND
TRUST | |||
401(K) PLAN |
||||
740 GLASTONBURY CT
|
||||
CUMMING GA 30041-9746
|
||||
LARGECAP VALUE
I |
93.32% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2010 |
53.89% |
BANKERS TRUST |
IOWA |
BANKERS
TRUST |
FBO PRIN SELECT SVNG EXC PLAN
INDV |
||||
PLAN |
||||
ATTN MARK
HARRISON |
||||
453 7TH ST |
||||
DES MOINES IA
50309-4110 |
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
LIFETIME 2010 |
27.61% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
SUNRISE GOLF INC INDIV 401K PSP
|
GUARANTEE AND
TRUST | |||
FBO MARK A TANSEY
|
||||
2912 SPRING WATER DR
|
||||
TOLEDO OH 43617-1350
|
||||
LIFETIME 2015 |
42.81% |
PRINCIPAL LIFE INSURANCE CO
CUST |
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
OMNIBUS WRAPPED
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH STREET G-012-N11
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2015 |
54.63% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PLIC VARIOUS RETIREMENT
PLANS
|
GUARANTEE AND
TRUST | |||
OMNIBUS |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
LIFETIME 2020 |
54.33% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2020 |
29.70% |
DELWARE CHARTER GUAR &
TRUST |
DELAWARE |
DELAWARE CHARTER
|
HENDRICKS CNTY TOURISM COMM PSP
|
GUARANTEE AND
TRUST | |||
FBO REBECCA J HARRIS
|
||||
8 W MAIN ST |
||||
DANVILLE IN 46122-1704
|
||||
LIFETIME 2025 |
44.56% |
PRINCIPAL LIFE INSURANCE CO
CUST |
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
OMNIBUS WRAPPED
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH STREET G-012-N11
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2025 |
52.47% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PRINCIPAL FINANCIAL GROUP
|
GUARANTEE AND
TRUST | |||
NON-QUALIFIED FIA OMNIBUS
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
LIFETIME 2030 |
56.05% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2030 |
26.82% |
DELAWARE CHARTER GUAR &
TRUST CO |
DELAWARE |
DELAWARE CHARTER
|
JOLENE A DOSDALL INDIV 401K INC
|
GUARANTEE AND
TRUST | |||
FBO JOLENE A DOSDALL
|
||||
5149 MANOR BROOK DR NW
|
||||
ROCHESTER MN 55901-3213
|
||||
LIFETIME 2035 |
46.35% |
PRINCIPAL LIFE INSURANCE CO
CUST |
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
OMNIBUS WRAPPED
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH STREET G-012-N11
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2035 |
50.21% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PLIC VARIOUS RETIREMENT
PLANS |
GUARANTEE AND
TRUST | |||
OMNIBUS |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
LIFETIME 2040 |
57.24% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2040 |
27.18% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
SUNRISE GOLF INC INDIV 401K PSP
|
GUARANTEE AND
TRUST | |||
FBO MARK A TANSEY
|
||||
2912 SPRING WATER DR
|
||||
TOLEDO OH 43617-1350
|
||||
LIFETIME 2045 |
46.88% |
PRINCIPAL LIFE INSURANCE CO
CUST |
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
OMNIBUS WRAPPED
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH STREET G-012-N11
|
||||
DES MOINES IA 50392-9992
|
||||
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
LIFETIME 2045 |
49.34% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PLIC VARIOUS RETIREMENT
PLANS |
GUARANTEE AND
TRUST | |||
OMNIBUS |
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
LIFETIME 2050 |
63.29% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2050 |
25.60% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
SUNRISE GOLF INC INDIV 401K PSP
|
GUARANTEE AND
TRUST | |||
FBO MARK A TANSEY
|
||||
2912 SPRING WATER DR
|
||||
TOLEDO OH 43617-1350
|
||||
LIFETIME 2055 |
59.64% |
PRINCIPAL LIFE INSURANCE CO
CUST |
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
OMNIBUS WRAPPED
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH STREET G-012-N11
|
||||
DES MOINES IA 50392-9992
|
||||
LIFETIME 2055 |
36.28% |
DCGT AS TTEE AND/OR
CUST |
DELAWARE |
DELAWARE CHARTER
|
FBO PRINCIPAL FINANCIAL GROUP
|
GUARANTEE AND
TRUST | |||
QUALIFIED PRIN ADVTG
OMNIBUS |
||||
ATTN NPIO TRADE
DESK |
||||
711 HIGH STREET |
||||
DES MOINES, IA
50392-0001 |
||||
LIFETIME 2060 |
70.42% |
BANKERS TRUST |
IOWA |
BANKERS
TRUST |
FBO PRIN SELECT SVNG EXCESS
PLAN INDV |
||||
ATTN MARK HARRISON
|
||||
453 7TH ST |
||||
DES MOINES IA 50309-4110
|
||||
LIFETIME
STRATEGIC |
62.72% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
INCOME |
FBO PRINCIPAL FINANCIAL GROUP
|
|||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
Fund |
Percent
of
Ownership |
Shareholder
Name and Address |
Jurisdiction
Under
Which
Control
Person
is
Organized
(when
control
person
is a
company) |
Parent
of Control
Person
(when control
Person
is a company) |
MIDCAP GROWTH |
26.89% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
PAUL MANRING BUSINESS INDIV
401K |
GUARANTEE AND
TRUST | |||
FBO PAUL H MANRING
|
||||
15415 73RD ST |
||||
KENOSHA WI 53142-8841
|
||||
|
||||
MIDCAP GROWTH
III |
46.46% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
MIDCAP S&P 400
INDEX |
46.92% |
DELAWARE CHARTER GUAR &
TRUST CO |
DELAWARE |
DELAWARE CHARTER
|
PHILIP KEITH GOOD INDY 401K
PLAN |
GUARANTEE AND
TRUST | |||
FBO PHILIP KEITH GOOD
|
||||
505 E GROVE ST |
||||
BLOOMINGTON IL 61701-5317
|
||||
MIDCAP VALUE I |
73.99% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
OVERSEAS FUND |
93.28% |
DCGT AS TTEE AND/OR CUST
|
DELAWARE |
DELAWARE CHARTER
|
FBO PRINCIPAL FINANCIAL GROUP
|
GUARANTEE AND
TRUST | |||
QUALIFIED PRIN ADVTG OMNIBUS
|
||||
ATTN NPIO TRADE DESK
|
||||
711 HIGH ST |
||||
DES MOINES IA 50392-0001
|
||||
SMALLCAP GROWTH
I |
41.94% |
PRINCIPAL LIFE INSURANCE CO
|
IOWA |
PRINCIPAL LIFE INS.
CO. |
FBO PRINCIPAL FINANCIAL GROUP
|
||||
ATTN: RIS NPIO TRADE DESK
|
||||
711 HIGH STREET
|
||||
DES MOINES IA 50392-9992
|
||||
SMALLCAP S&P 600
INDEX |
45.81% |
DELAWARE CHARTER GUARANTEE
& TRUST |
DELAWARE |
DELAWARE CHARTER
|
PAUL MANRING BUSINESS INDIV
401K |
GUARANTEE AND
TRUST | |||
FBO PAUL H MANRING
|
||||
15415 73RD ST |
||||
KENOSHA WI 53142-8841
|
||||
|
||||
SMALLCAP VALUE
II |
34.84% |
BANKERS TRUST |
IOWA |
BANKERS
TRUST |
FBO PRIN SELECT SVNG EXCESS
PLAN INDV |
||||
ATTN MARK HARRISON
|
||||
453 7TH ST |
||||
DES MOINES IA 50309-4110
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
BOND & MORTGAGE
SECURITIES (B) |
11.58 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
BOND & MORTGAGE
SECURITIES (C) |
16.39 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
BOND & MORTGAGE
SECURITIES (C) |
6.12 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
BOND & MORTGAGE
SECURITIES (C) |
7.26 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
2920 E SHERIDAN AVE
| |
IRA IN TAIK LEE
|
DES MOINES IA 50317-3747
| ||||
BOND & MORTGAGE
SECURITIES |
8.62 |
% |
LIFETIME 2010 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
28.81 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
6.39 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
5.04 |
% |
LIFETIME STRATEGIC
INCOME FUND |
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
BOND & MORTGAGE
SECURITIES |
18.14 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
5.17 |
% |
LIFETIME 2015 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
5.46 |
% |
LIFETIME 2025 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
BOND & MORTGAGE
SECURITIES |
5.58 |
% |
THE PRINCIPAL TRST FOR
POST-RET |
ATTN STEPHANIE WATTS
S-001-S60 | |
(INSTITUTIONAL)
|
FOR MEDICAL BENEFITS FOR
EMPLOYEES |
PRINCIPAL FINANCIAL
GROUP | |||
61021 |
DES MOINES IA 50392-0001
| ||||
BOND & MORTGAGE
SECURITIES (R-1) |
96.12 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
BOND & MORTGAGE
SECURITIES (R-2) |
99.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
BOND & MORTGAGE
SECURITIES (R-3) |
82.82 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
BOND & MORTGAGE
SECURITIES (R-4) |
92.81 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
BOND & MORTGAGE
SECURITIES (R-5) |
82.67 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CALIFORNIA MUNICIPAL (A)
|
49.64 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
CALIFORNIA MUNICIPAL (A)
|
6.11 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
CALIFORNIA MUNICIPAL (A)
|
6.62 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
CALIFORNIA MUNICIPAL (A)
|
10.8 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
CALIFORNIA MUNICIPAL (A)
|
9.09 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
| ||||
BUILDING ONE, 2ND FLOOR
| |||||
JACKSONVILLE FL
32246-6484 | |||||
CALIFORNIA MUNICIPAL (B)
|
10.17 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
CALIFORNIA MUNICIPAL (B)
|
72.42 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
CALIFORNIA MUNICIPAL (B)
|
5.94 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
CALIFORNIA MUNICIPAL (B)
|
5.55 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
CALIFORNIA MUNICIPAL (C)
|
7.85 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
CALIFORNIA MUNICIPAL (C)
|
24.46 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
CALIFORNIA MUNICIPAL (C)
|
10.22 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
CALIFORNIA MUNICIPAL (C)
|
12.07 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
CALIFORNIA MUNICIPAL (C)
|
19.24 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
CALIFORNIA MUNICIPAL (C)
|
6.97 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
CALIFORNIA MUNICIPAL (C)
|
8.86 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
CORE PLUS BOND
I |
5.49 |
% |
LIFETIME 2010 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
CORE PLUS BOND
I |
18.12 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
CORE PLUS BOND
I |
9.74 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
CORE PLUS BOND
I |
46.01 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST. |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
CORE PLUS BOND I (R-1)
|
95.97 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CORE PLUS BOND I (R-2)
|
8.45 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CORE PLUS BOND I (R-2)
|
91.30 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CORE PLUS BOND I (R-3)
|
92.89 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CORE PLUS BOND I (R-4)
|
91.52 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CORE PLUS BOND I (R-5)
|
97.41 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
DIVERSIFIED
INTERNATIONAL (A) |
6.30 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
DIVERSIFIED
INTERNATIONAL (B) |
22.34 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
DIVERSIFIED
INTERNATIONAL (B) |
11.28 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
DIVERSIFIED
INTERNATIONAL (C) |
18.07 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
DIVERSIFIED
INTERNATIONAL |
8.44 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL |
7.77 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL |
9.85 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL |
5.79 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL TRUST CO
CITS |
711 HIGH ST
| |||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL |
9.39 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL |
8.12 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
DIVERSIFIED
INTERNATIONAL (P) |
9.94 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
DIVERSIFIED
INTERNATIONAL (P) |
38.54 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
DIVERSIFIED
INTERNATIONAL (P) |
7.43 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
DIVERSIFIED
INTERNATIONAL (P) |
33.15 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
DIVERSIFIED
INTERNATIONAL (R-1) |
94.09 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
DIVERSIFIED
INTERNATIONAL (R-2) |
96.74 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
DIVERSIFIED
INTERNATIONAL (R-3) |
89.47 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
DIVERSIFIED
INTERNATIONAL (R-4) |
87.93 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
DIVERSIFIED
INTERNATIONAL (R-5) |
92.19 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
EQUITY INCOME (A)
|
5.15 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
EQUITY INCOME (A)
|
20.48 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
EQUITY INCOME (A)
|
10.37 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
EQUITY INCOME (A)
|
17.73 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| ||||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
EQUITY INCOME (B)
|
62.29 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
EQUITY INCOME (C)
|
8.93 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
EQUITY INCOME (C)
|
6.50 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
EQUITY INCOME (C)
|
14.18 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
EQUITY INCOME (C)
|
11.27 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
EQUITY INCOME (C)
|
6.22 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
EQUITY INCOME (C)
|
15.45 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
EQUITY INCOME
(INSTITUTIONAL) |
5 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
EQUITY INCOME
(INSTITUTIONAL) |
36.36 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST. |
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
EQUITY INCOME
(INSTITUTIONAL) |
14.38 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
EQUITY INCOME
(INSTITUTIONAL) |
12.83 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
EQUITY INCOME
(INSTITUTIONAL) |
8.96 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
EQUITY INCOME (P)
|
6.99 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
EQUITY INCOME (P)
|
7.69 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
EQUITY INCOME (P)
|
11.82 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
EQUITY INCOME (P)
|
7.29 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
EQUITY INCOME (P)
|
22.97 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
EQUITY INCOME (P)
|
22.38 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
EQUITY INCOME (P)
|
16.78 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
EQUITY INCOME (R-1)
|
84.78 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
EQUITY INCOME (R-2)
|
71.74 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
EQUITY INCOME (R-2)
|
9.04 |
% |
GREAT-WEST TRUST CO LLC
FBO PUTNAM |
8515 E ORCHARD RD 2T2
| |
FBO RECORDKEEPING FOR
VARIOUS BENEF |
GREENWOOD VILLAGE CO
80111-5002 | ||||
EQUITY INCOME (R-2)
|
17.94 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
EQUITY INCOME (R-3)
|
85.57 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
EQUITY INCOME (R-4)
|
5.15 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
EQUITY INCOME (R-4)
|
85.43 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
EQUITY INCOME (R-5)
|
94.01 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GLOBAL DIVERSIFIED
INCOME (A) |
6.09 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
GLOBAL DIVERSIFIED
INCOME (A) |
5.98 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
GLOBAL DIVERSIFIED
INCOME (A) |
16.5 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
GLOBAL DIVERSIFIED
INCOME (A) |
6.67 |
% |
LPL FINANCIAL
|
9785 TOWNE CENTRE DRIVE
| |
A/C 1000-0005
|
SAN DIEGO CA 92121-1968
| ||||
GLOBAL DIVERSIFIED
INCOME (A) |
7.99 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GLOBAL DIVERSIFIED
INCOME (A) |
24.32 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
GLOBAL DIVERSIFIED
INCOME (A) |
7.52 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
GLOBAL DIVERSIFIED
INCOME (C) |
13.16 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
GLOBAL DIVERSIFIED
INCOME (C) |
6.32 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
GLOBAL DIVERSIFIED
INCOME (C) |
18.8 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GLOBAL DIVERSIFIED
INCOME (C) |
8.91 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
GLOBAL DIVERSIFIED
INCOME (C) |
6.76 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
GLOBAL DIVERSIFIED
INCOME (C) |
22.58 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
GLOBAL DIVERSIFIED
INCOME |
7.71 |
% |
LIFETIME 2010 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL DIVERSIFIED
INCOME |
13.07 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL DIVERSIFIED
INCOME |
5.1 |
% |
LIFETIME STRATEGIC
INCOME FUND |
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL DIVERSIFIED
INCOME |
22.27 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(INSTITUTIONAL)
|
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GLOBAL DIVERSIFIED
INCOME |
6.44 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL DIVERSIFIED
INCOME |
8.18 |
% |
SAM FLEXIBLE INCOME PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
GLOBAL DIVERSIFIED
INCOME |
11.76 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
(INSTITUTIONAL)
|
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| |||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
GLOBAL DIVERSIFIED
INCOME (P) |
16.94 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
GLOBAL DIVERSIFIED
INCOME (P) |
8.3 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
GLOBAL DIVERSIFIED
INCOME (P) |
18.75 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GLOBAL DIVERSIFIED
INCOME (P) |
7.58 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
GLOBAL DIVERSIFIED
INCOME (P) |
32.34 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
GLOBAL REAL ESTATE
SECURITIES (A) |
10.07 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
GLOBAL REAL ESTATE
SECURITIES (A) |
12.08 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
GLOBAL REAL ESTATE
SECURITIES (A) |
7.24 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
GLOBAL REAL ESTATE
SECURITIES (A) |
17.19 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FBO
CUSTOMERS |
101 MONTGOMERY STREET
| ||||
SAN FRANCISCO CA
94104-4151 | |||||
GLOBAL REAL ESTATE
SECURITIES (A) |
14.11 |
% |
TD AMERITRADE INC FOR
THE |
PO BOX 2226
| |
EXCLUSIVE BENEFIT OF OUR
CLIENTS |
OMAHA NE 68103-2226
| ||||
GLOBAL REAL ESTATE
SECURITIES (C) |
5.51 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
GLOBAL REAL ESTATE
SECURITIES (C) |
7.19 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
GLOBAL REAL ESTATE
SECURITIES (C) |
7.22 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
GLOBAL REAL ESTATE
SECURITIES (C) |
48.05 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
GLOBAL REAL ESTATE
SECURITIES (C) |
6.2 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
GLOBAL REAL ESTATE
SECURITIES |
12.16 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL REAL ESTATE
SECURITIES |
12.3 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL REAL ESTATE
SECURITIES |
6.63 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL REAL ESTATE
SECURITIES |
18.12 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GLOBAL REAL ESTATE
SECURITIES |
5.24 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL) |
FBO PRINCIPAL TRUST CO
CITS |
711 HIGH ST
| |||
DES MOINES IA 50392-0001
| |||||
GLOBAL REAL ESTATE
SECURITIES (P) |
11.54 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
GLOBAL REAL ESTATE
SECURITIES (P) |
5.99 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
GLOBAL REAL ESTATE
SECURITIES (P) |
11.82 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
GLOBAL REAL ESTATE
SECURITIES (P) |
15.06 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GLOBAL REAL ESTATE
SECURITIES (P) |
31.22 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
GLOBAL REAL ESTATE
SECURITIES (P) |
16.51 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 |
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
GOVERNMENT & HIGH
QUALITY BOND |
14.95 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
(A) |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| |||
BROOKLYN NY 11245-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
18.88 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(A) |
JERSEY CITY NJ
07399-0001 | ||||
GOVERNMENT & HIGH
QUALITY BOND |
19.08 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
(B) |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| |||
BROOKLYN NY 11245-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
25.34 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(B) |
JERSEY CITY NJ
07399-0001 | ||||
GOVERNMENT & HIGH
QUALITY BOND |
7.38 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(B) |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GOVERNMENT & HIGH
QUALITY BOND |
5.13 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
(C) |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| |||
BROOKLYN NY 11245-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
24.09 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(C) |
JERSEY CITY NJ
07399-0001 | ||||
GOVERNMENT & HIGH
QUALITY BOND |
22.07 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(C) |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GOVERNMENT & HIGH
QUALITY BOND |
39.20 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
21.37 |
% |
SAM CONS BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
8.94 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
26.17 |
% |
SAM FLEXIBLE INCOME PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
GOVERNMENT & HIGH
QUALITY BOND |
6.59 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
(P) |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| |||
SAN DIEGO CA 92150-9046
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
GOVERNMENT & HIGH
QUALITY BOND |
67.09 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(P) |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
GOVERNMENT & HIGH
QUALITY BOND |
6.53 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
(P) |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| |||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
GOVERNMENT & HIGH
QUALITY BOND |
6.75 |
% |
MG TRUST COMPANY CUST
FBO |
717 17TH ST STE 1300
| |
(P) |
STATE MECHANICAL
CONTRACTORS INC |
DENVER CO 80202-3304
| |||
GOVERNMENT & HIGH
QUALITY BOND |
11.02 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
(P) |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | |||
JACKSONVILLE FL
32246-6484 | |||||
GOVERNMENT & HIGH
QUALITY BOND |
95.31 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-1) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
93.10 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-2) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
5.44 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-3) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
78.81 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-3) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
88.77 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-4) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
6.21 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-5) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
GOVERNMENT & HIGH
QUALITY BOND |
67.26 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(R-5) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
HIGH YIELD (A)
|
9.97 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
HIGH YIELD (A)
|
24.06 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
HIGH YIELD (A)
|
5.08 |
% |
LPL FINANCIAL
|
9785 TOWNE CENTRE DRIVE
| |
A/C 1000-0005
|
SAN DIEGO CA 92121-1968
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
HIGH YIELD (A)
|
10.17 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
HIGH YIELD (A)
|
10.22 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| ||||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
HIGH YIELD (B)
|
6.25 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
HIGH YIELD (B)
|
11.05 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
HIGH YIELD (B)
|
17.00 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
HIGH YIELD (B)
|
30.51 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
HIGH YIELD (B)
|
11.59 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
HIGH YIELD (C)
|
7.86 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
HIGH YIELD (C)
|
6.45 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
HIGH YIELD (C)
|
11.95 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
HIGH YIELD (C)
|
6.84 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
HIGH YIELD (C)
|
25.24 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
HIGH YIELD (C)
|
6.60 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
HIGH YIELD (C)
|
5.56 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
HIGH YIELD (C)
|
12.42 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
HIGH YIELD
(INSTITUTIONAL) |
9.23 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD
(INSTITUTIONAL) |
5.17 |
% |
SAM CONS BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD
(INSTITUTIONAL) |
9.78 |
% |
SAM FLEXIBLE INCOME PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD
(INSTITUTIONAL) |
7.81 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| ||||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
HIGH YIELD
(INSTITUTIONAL) |
8.05 |
% |
NATIONWIDE TRUST COMPANY
FSB |
C/O IPO ACCOUNTING
| |
PO BOX 182029
| |||||
COLUMBUS OH 43218-2029
| |||||
HIGH YIELD
(INSTITUTIONAL) |
12.23 |
% |
TD AMERITRADE INC FOR
THE |
PO BOX 2226
| |
EXCLUSIVE BENEFIT OF OUR
CLIENTS |
OMAHA NE 68103-2226
| ||||
HIGH YIELD (P)
|
32.7 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
HIGH YIELD (P)
|
29.38 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
HIGH YIELD (P)
|
5.85 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
HIGH YIELD (P)
|
19.15 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
HIGH YIELD I (A)
|
95.86 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
HIGH YIELD I
(INSTITUTIONAL) |
7.65 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
HIGH YIELD I
(INSTITUTIONAL) |
7.64 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD I
(INSTITUTIONAL) |
6.24 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL TRUST CO
CITS |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD I
(INSTITUTIONAL) |
5.61 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL TRUST CO
CITS |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
HIGH YIELD I
(INSTITUTIONAL) |
28.54 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN RIS NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH
STREET | ||||
DES MOINES IA 50392-9992
| |||||
INCOME (A)
|
20.01 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
INCOME (A)
|
19.19 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INCOME (B)
|
28.44 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
INCOME (B)
|
15.7 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INCOME (B)
|
16.15 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
INCOME (B)
|
5.73 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
INCOME (C)
|
23.92 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INCOME (C)
|
14.53 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
INCOME (INSTITUTIONAL)
|
10.77 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST. |
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
INCOME (INSTITUTIONAL)
|
30.52 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
INCOME (INSTITUTIONAL)
|
16.61 |
% |
SAM CONS BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
INCOME (INSTITUTIONAL)
|
7.52 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
INCOME (INSTITUTIONAL)
|
26.83 |
% |
SAM FLEXIBLE INCOME PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
INCOME (P)
|
8.77 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
INCOME (P)
|
5.17 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INCOME (P)
|
6.55 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
INCOME (P)
|
46.54 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
INCOME (P)
|
8 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
INCOME (P)
|
12.16 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
INCOME (R-1)
|
96.35 |
% |
ING NATIONAL TRUST
|
1 ORANGE WAY
| |
WINDSOR CT 06095-4773
| |||||
INCOME (R-2)
|
81.07 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP QUALIFIED |
711 HIGH ST
| ||||
PRIN ADVTG OMNIBUS
|
DES MOINES IA 50392-0001
| ||||
INCOME (R-2)
|
14.29 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 2
| ||||
JACKSONVILLE FL
32246-6484 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
INCOME (R-3)
|
93.47 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
INCOME (R-4)
|
97.91 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
INCOME (R-5)
|
92.03 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION (A)
|
5.13 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
INFLATION PROTECTION (A)
|
22.21 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INFLATION PROTECTION (A)
|
10.26 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
INFLATION PROTECTION (C)
|
13.96 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INFLATION PROTECTION (C)
|
13.82 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
INFLATION PROTECTION
|
8.73 |
% |
LIFETIME 2010 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INFLATION PROTECTION
|
22.58 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INFLATION PROTECTION
|
5.4 |
% |
LIFETIME STRATEGIC
INCOME FUND |
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INFLATION PROTECTION
|
14.67 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INFLATION PROTECTION
|
6.76 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL) |
FBO PRINCIPAL TRUST CO
CITS |
711 HIGH ST
| |||
DES MOINES IA 50392-0001
| |||||
INFLATION PROTECTION
|
10.9 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN RIS NPIO TRADE DESK
| |
(INSTITUTIONAL) |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
INFLATION PROTECTION
(R-1) |
95.99 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-2) |
18.98 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-2) |
75.81 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-3) |
7.36 |
% |
MID ATLANTIC TRUST
COMPANY |
1251 WATERFRONT PL STE
525 | |
FBO ATLANTIC ANALYTICAL
LABORATORY |
PITTSBURGH PA 15222-4228
| ||||
401 K PROFIT SHARING
PLAN & TRUST |
|||||
INFLATION PROTECTION
(R-3) |
87.16 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-4) |
14.24 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO INSURITY INC DEF
COMP PLAN |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
INFLATION PROTECTION
(R-4) |
78.54 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-5) |
5.05 |
% |
COMANCHE COUNTY HOSPITAL
AUTHORITY |
ATTN DONNA WADE
| |
FBO COMANCHE COUNTY
HOSPITAL |
3401 W GORE BLVD
| ||||
AUTHORITY EMPLOYEE
EXCESS PLAN |
LAWTON OK 73505-6300
| ||||
INFLATION PROTECTION
(R-5) |
71.01 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO SUPERIOR OFFICERS
COUNCIL CUST |
711 HIGH ST
| ||||
INV FOF |
DES MOINES IA 50392-0001
| ||||
INFLATION PROTECTION
(R-5) |
18.95 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL EMERGING
MARKETS |
16.94 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(A) |
JERSEY CITY NJ
07399-0001 | ||||
INTERNATIONAL EMERGING
MARKETS |
20.66 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
(B) |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| |||
BROOKLYN NY 11245-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
15.62 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(B) |
JERSEY CITY NJ
07399-0001 | ||||
INTERNATIONAL EMERGING
MARKETS |
27.5 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(C) |
JERSEY CITY NJ
07399-0001 | ||||
INTERNATIONAL EMERGING
MARKETS |
10.49 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
INTERNATIONAL EMERGING
MARKETS |
10.46 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
5.27 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
13.27 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
6.16 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
5.39 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
5.56 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL) |
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
INTERNATIONAL EMERGING
MARKETS |
8.87 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
(P) |
PLAZA 2 3RD FLOOR
| ||||
JERSEY CITY NJ 07311
| |||||
INTERNATIONAL EMERGING
MARKETS |
17.49 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
(P) |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | |||
JERSEY CITY NJ
07310-2010 | |||||
INTERNATIONAL EMERGING
MARKETS |
6.64 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
(P) |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| |||
SAN DIEGO CA 92150-9046
| |||||
INTERNATIONAL EMERGING
MARKETS |
20.53 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(P) |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
INTERNATIONAL EMERGING
MARKETS |
21.58 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
(P) |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| |||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
INTERNATIONAL EMERGING
MARKETS |
15.55 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
(P) |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | |||
JACKSONVILLE FL
32246-6484 | |||||
INTERNATIONAL EMERGING
MARKETS |
92.14 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
(R-1) |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
INTERNATIONAL EMERGING
MARKETS |
94.93 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
(R-2) |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL EMERGING
MARKETS |
83.7 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
(R-3) |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL EMERGING
MARKETS |
84.37 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
(R-4) |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL EMERGING
MARKETS |
86.05 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
(R-5) |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I
(INSTITUTIONAL) |
13.59 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
INTERNATIONAL I
(INSTITUTIONAL) |
83.33 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
INTERNATIONAL I (R-1)
|
98.78 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I (R-2)
|
98.45 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN RIS NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I (R-3)
|
8.15 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO DC OF IA
TELECOMMUNICATIONS |
1013 CENTRE RD
| ||||
SERVICES |
WILMINGTON DE 19805-1265
| ||||
INTERNATIONAL I (R-3)
|
76.48 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN RIS NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I (R-4)
|
94.96 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN RIS NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I (R-5)
|
86.1 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
INTERNATIONAL I (R-5)
|
6.61 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II
(INSTITUTIONAL) |
93.48 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP BLEND II (R-1)
|
97.98 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II (R-2)
|
98.91 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP QUALIFIED |
711 HIGH STREET
| ||||
PRIN ADVTG OMNIBUS
|
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II (R-3)
|
93.81 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II (R-4)
|
5.18 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II (R-4)
|
93.19 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP BLEND II (R-5)
|
91.97 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH (A)
|
16.78 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
LARGECAP GROWTH (B)
|
32.02 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP GROWTH (C)
|
12.16 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP GROWTH (C)
|
5.57 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
LARGECAP GROWTH (C)
|
17.9 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
LARGECAP GROWTH (C)
|
12.98 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
LARGECAP GROWTH
(INSTITUTIONAL) |
6.07 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP GROWTH
(INSTITUTIONAL) |
7.55 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH
(INSTITUTIONAL) |
13.64 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH
(INSTITUTIONAL) |
12.18 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH
(INSTITUTIONAL) |
12.86 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH
(INSTITUTIONAL) |
13.6 |
% |
MAC & CO A/C NYPF
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO NY STATE DEFERRED
COMP PLAN |
PO BOX 3198
| ||||
PITTSBURGH PA 15230-3198
| |||||
LARGECAP GROWTH (P)
|
6.24 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
LARGECAP GROWTH (P)
|
7.03 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
LARGECAP GROWTH (P)
|
71.17 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
LARGECAP GROWTH (P)
|
13.46 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
LARGECAP GROWTH (R-1)
|
94.13 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH (R-2)
|
99.25 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH (R-3)
|
94.2 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP GROWTH (R-4)
|
86.46 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH (R-5)
|
95.47 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I (A)
|
28.27 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP GROWTH I (A)
|
17.83 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
8.75 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
8.39 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
11.47 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
36.57 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
5.2 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I
(INSTITUTIONAL) |
10.8 |
% |
NFS LLC FEBO
|
440 MAMARONECK AVE
| |
STATE STREET BANK TRUST
CO |
HARRISON NY 10528-2418
| ||||
TTEE VARIOUS RETIREMENT
PLANS |
|||||
LARGECAP GROWTH I (R-1)
|
82.27 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I (R-1)
|
6.84 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO TOM BELL
GROUP |
COVINGTON KY 41015-1987
| ||||
401K RETIREMENT PLAN
|
|||||
LARGECAP GROWTH I (R-2)
|
8.64 |
% |
PIMS/PRUDENTIAL
RETIREMENT |
998 W MISSION BAY DR
| |
AS NOMINEE FOR THE
TTEE/CUST PL 880 |
SAN DIEGO CA 92109-7803
| ||||
EVANS HOTELS 401 K
|
|||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP GROWTH I (R-2)
|
20.05 |
% |
PIMS/PRUDENTIAL
RETIREMENT |
1577 SPRING HILL RD STE
500 | |
AS NOMINEE FOR THE
TTEE/CUST PL 007 |
VIENNA VA 22182-2284
| ||||
RATNER COMPANIES 401 K
|
|||||
LARGECAP GROWTH I (R-2)
|
66.13 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I (R-3)
|
83.42 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I (R-4)
|
80.58 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH I (R-4)
|
5.95 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
FBO CHARLES SCHWAB &
CO INC |
101 MONTGOMERY ST
| ||||
SAN FRANCISCO CA
94104-4151 | |||||
LARGECAP GROWTH I (R-5)
|
80.48 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH II
(INSTITUTIONAL) |
65.87 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
LARGECAP GROWTH II
(INSTITUTIONAL) |
10.33 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH II
(INSTITUTIONAL) |
8.69 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH II
(INSTITUTIONAL) |
6.28 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP GROWTH II (R-1)
|
6.16 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH II (R-1)
|
93.8 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH ST
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH II (R-2)
|
96.5 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP GROWTH II (R-3)
|
94.22 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH II (R-4)
|
96.68 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP GROWTH II (R-5)
|
90.55 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP S&P 500
INDEX (A) |
5.72 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP S&P 500
INDEX (C) |
25.06 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP S&P 500
INDEX (C) |
10.64 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
LARGECAP S&P 500
INDEX (C) |
7.6 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
LARGECAP S&P 500
INDEX |
17.27 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP S&P 500
INDEX |
13.91 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP S&P 500
INDEX |
7.02 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP S&P 500
INDEX |
19.62 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP S&P 500
INDEX |
18.23 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
LARGECAP S&P 500
INDEX (R-1) |
81.74 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO PFG PRINCIPAL
ADVANTAGE OMNIBUS |
DES MOINES IA 50392-0001
| ||||
CLIENT 904
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP S&P 500
INDEX (R-1) |
5.65 |
% |
STATE STREET BANK TTEE
CUST |
1 LINCOLN ST
| |
FBO ACCESS ADP 401(K)
PLAN |
BOSTON MA 02111-2901
| ||||
LARGECAP S&P 500
INDEX (R-2) |
94.37 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP S&P 500
INDEX (R-3) |
7.33 |
% |
MG TRUST COMPANY
CUST |
717 17TH STREET
| |
FBP ATU NATIONAL 401(K)
PENSION PLAN |
SUITE 1300
| ||||
DENVER CO 80202-3304
| |||||
LARGECAP S&P 500
INDEX (R-3) |
70.75 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP S&P 500
INDEX (R-4) |
86.57 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP S&P 500
INDEX (R-5) |
77.31 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (A)
|
5.03 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP VALUE (B)
|
13.98 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP VALUE (C)
|
48.01 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
LARGECAP VALUE
(INSTITUTIONAL) |
8.8 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE
(INSTITUTIONAL) |
8.06 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE
(INSTITUTIONAL) |
10.84 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE
(INSTITUTIONAL) |
15.41 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE
(INSTITUTIONAL) |
13.28 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP VALUE
(INSTITUTIONAL) |
11.24 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE (R-1)
|
99.86 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH ST
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (R-2)
|
24.24 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
LARGECAP VALUE (R-2)
|
73.28 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (R-3)
|
9.78 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (R-3)
|
73.99 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (R-4)
|
13.34 |
% |
RUIZ FOOD PRODUCTS INC
|
ATTN KATHY TOPETE
| |
FBO SUPP EMP PLAN OF
RUIZ FOOD |
PO BOX 37
| ||||
DINUBA CA 93618-0037
| |||||
LARGECAP VALUE (R-4)
|
74.97 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE (R-4)
|
5.51 |
% |
NATIONWIDE TRUST COMPANY
FSB |
C/O IPO ACCOUNTING
| |
FBO PARTICIPATING
RETIREMENT PLANS |
PO BOX 182029
| ||||
TPA-NTC |
COLUMBUS OH 43218-2029
| ||||
LARGECAP VALUE (R-5)
|
93.75 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE I
(INSTITUTIONAL) |
99.92 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
LARGECAP VALUE I (R-1)
|
99.08 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE I (R-2)
|
98.25 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN RIS NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE I (R-3)
|
93.95 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP VALUE I (R-4)
|
95.38 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE I (R-5)
|
14.1 |
% |
WELLS FARGO INST TRUST
SERVICES |
ATTN KATE MEYER
| |
FBO WORLD INSURANCE CO.
EXECUTIVE |
733 MARQUETTE AVENUE
| ||||
SERP PLAN
|
MINNEAPOLIS MN
55402-2309 | ||||
LARGECAP VALUE I (R-5)
|
9.19 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO FHLB DM BENEFIT
EQUALIZATION PLAN |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
LARGECAP VALUE I (R-5)
|
17.77 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN RIS NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE I (R-5)
|
50.85 |
% |
DELAWARE CHARTER GUAR
& TRUST CO |
1013 CENTRE RD
| |
FBO PRINCIPAL TRUST
COMPANY |
WILMINGTON DE 19805-1298
| ||||
VEBA TRUST IBEW HEALTH
SAVING PLAN |
|||||
SOUTHWEST SCHOOL
CORPORATION |
|||||
LARGECAP VALUE III
(INSTITUTIONAL) |
19 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III
(INSTITUTIONAL) |
17.89 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III
(INSTITUTIONAL) |
9.29 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III
(INSTITUTIONAL) |
23.93 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III
(INSTITUTIONAL) |
10.5 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
LARGECAP VALUE III
(INSTITUTIONAL) |
5.23 |
% |
LIFETIME 2025 FUND
|
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III (R-1)
|
6.42 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE III (R-1)
|
92.7 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
LARGECAP VALUE III (R-2)
|
100 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE III (R-3)
|
83.28 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE III (R-4)
|
11.27 |
% |
SMH HEALTH CARE INC
|
ATTN ROY SLEDJESKI
| |
FBO NQ DEF COMP OF SMH
PHYSICIAN |
1700 S TAMIAMI TRL
| ||||
SERVICES |
SARASOTA FL 34239-3509
| ||||
LARGECAP VALUE III (R-4)
|
85.5 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
LARGECAP VALUE III (R-5)
|
5.1 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS OMNIBUS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
LARGECAP VALUE III (R-5)
|
72.32 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP (A)
|
9.12 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
MIDCAP (A)
|
10.05 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
MIDCAP (A)
|
11.82 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
MIDCAP (A)
|
5.45 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
MIDCAP (B)
|
13.03 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
MIDCAP (B)
|
17.42 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
MIDCAP (C)
|
6.06 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP (C)
|
8.29 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
MIDCAP (C)
|
16.71 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
MIDCAP (C)
|
13.02 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
MIDCAP (C)
|
19.82 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
MIDCAP (INSTITUTIONAL)
|
7.17 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
MIDCAP (INSTITUTIONAL)
|
11.14 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| ||||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
MIDCAP (P)
|
10.35 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
MIDCAP (P)
|
37.86 |
% |
EDWARD D JONES & CO
|
12555 MANCHESTER RD
| |
FOR THE BENEFIT OF
CUSTOMERS |
SAINT LOUIS MO
63131-3729 | ||||
MIDCAP (P)
|
5.5 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
MIDCAP (P)
|
5.35 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
MIDCAP (P)
|
5.05 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
MIDCAP (P)
|
7.57 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
MIDCAP (P)
|
16.14 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
MIDCAP (R-1)
|
10.54 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP (R-1)
|
46.43 |
% |
ING NATIONAL TRUST
|
1 ORANGE WAY
| |
WINDSOR CT 06095-4773
| |||||
MIDCAP (R-2)
|
24.6 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
MIDCAP (R-2)
|
7.84 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP (R-2)
|
12.98 |
% |
T ROWE PRICE RETIREMENT
PLAN |
4515 PAINTERS MILL RD
| |
SERVICES INC
|
OWINGS MILLS MD
21117-4903 | ||||
FBO RETIREMENT PLAN
CLIENTS |
|||||
MIDCAP (R-2)
|
19.3 |
% |
STATE STREET BANK TTEE
CUST |
1 LINCOLN ST
| |
FBO ACCESS ADP 401(K)
PLAN |
BOSTON MA 02111-2901
| ||||
MIDCAP (R-3)
|
18.57 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP (R-3)
|
19.61 |
% |
STATE STREET BANK TTEE
CUST |
1 LINCOLN ST
| |
FBO ACCESS ADP 401(K)
PLAN |
BOSTON MA 02111-2901
| ||||
MIDCAP (R-4)
|
8.41 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
MIDCAP (R-4)
|
18.08 |
% |
WELLS FARGO BANK FBO
|
1525 WEST WT HARRIS BLVD
| |
VARIOUS RETIREMENT PLANS
|
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC 1151
|
|||||
MIDCAP (R-4)
|
14.18 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP (R-4)
|
6.98 |
% |
NEW YORK LIFE TRUST
COMPANY |
169 LACKAWANNA AVE
| |
PARSIPPANY NJ 07054-1007
| |||||
MIDCAP (R-4)
|
5.85 |
% |
NEW YORK LIFE PROGRESS
SHARING |
C/O GARY WENDLANDT
| |
INVESTMENT PLAN TRUST
|
51 MADISON AVE RM 1305
| ||||
NEW YORK NY 10010-1603
| |||||
MIDCAP (R-5)
|
7.78 |
% |
ING LIFE INSURANCE &
ANNUITY COMPANY |
1 ORANGE WAY
| |
WINDSOR CT 06095-4773
| |||||
MIDCAP (R-5)
|
29.22 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP (R-5)
|
6.29 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FBO
CUSTOMERS |
101 MONTGOMERY ST
| ||||
SAN FRANCISCO CA
94104-4151 | |||||
MIDCAP GROWTH
(INSTITUTIONAL) |
19.73 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH
(INSTITUTIONAL) |
42.51 |
% |
NATIONWIDE TRUST COMPANY
FSB |
C/O IPO ACCOUNTING
| |
PO BOX 182029
| |||||
COLUMBUS OH 43218-2029
| |||||
MIDCAP GROWTH (R-1)
|
98.93 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP GROWTH (R-2)
|
9.45 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
MIDCAP GROWTH (R-2)
|
81.86 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH (R-3)
|
5.67 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO DC OF IA
TELECOMMUNICATIONS |
1013 CENTRE RD
| ||||
SERVICES |
WILMINGTON DE 19805-1265
| ||||
MIDCAP GROWTH (R-3)
|
6.87 |
% |
MID ATLANTIC TRUST
COMPANY FBO |
1251 WATERFRONT PLACE
SUITE 525 | |
FBO ANDREW F TROIA 401 K
PROFIT |
PITTSBURGH PA 15222-4228
| ||||
SHARING PLAN & TRUST
|
|||||
MIDCAP GROWTH (R-3)
|
72.46 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH (R-4)
|
91.18 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP GROWTH (R-5)
|
90.43 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III
|
9.48 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP GROWTH III
|
10.63 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP GROWTH III
|
5.32 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP GROWTH III
|
15.23 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP GROWTH III
|
49.63 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN RIS NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
MIDCAP GROWTH III (R-1)
|
94.07 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III (R-2)
|
5.17 |
% |
COUNSEL TRUST DBA MATC
|
1251 WATERFRONT PL STE
525 | |
FBO INTEGRATED LINER
TECHNOLOGIES |
PITTSBURGH PA 15222-4228
| ||||
401 K PROFIT SHARING
PLAN & TRUST |
|||||
MIDCAP GROWTH III (R-2)
|
92.83 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III (R-3)
|
92.61 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III (R-4)
|
97.1 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III (R-5)
|
5.18 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP GROWTH III (R-5)
|
83.93 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
|
8.3 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(INSTITUTIONAL)
|
JERSEY CITY NJ
07399-0001 | ||||
MIDCAP S&P 400 INDEX
|
35.89 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
|
25.38 |
% |
DIVERSIFIED GROWTH
ACCOUNT |
ATTN MUTUAL FUND
ACCOUNTING H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP S&P 400 INDEX
|
7.55 |
% |
DIVERSIFIED BALANCED
ACCOUNT |
ATTN MUTUAL FUND
ACCOUNTING H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP S&P 400 INDEX
(R-1) |
39.79 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH ST
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
(R-1) |
39.94 |
% |
NEW YORK LIFE TRUST
COMPANY |
169 LACKAWANNA AVE
| |
PARSIPPANY NJ 07054-1007
| |||||
MIDCAP S&P 400 INDEX
(R-2) |
88.43 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
(R-3) |
64.09 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
(R-3) |
8.25 |
% |
NEW YORK LIFE TRUST
COMPANY |
169 LACKAWANNA AVE
| |
PARSIPPANY NJ 07054-1007
| |||||
MIDCAP S&P 400 INDEX
(R-4) |
5.84 |
% |
PIMS/PRUDENTIAL
RETIREMENT |
PO BOX 547
| |
AS NOMINEE FOR THE
TTEE/CUST PL 002 |
BOYERTOWN PA 19512-0547
| ||||
NATIONAL PENN BANCSHARES
INC |
|||||
MIDCAP S&P 400 INDEX
(R-4) |
14.66 |
% |
ATTN T CHOPITEA C/O RBC
DAIN RAUSCH |
SAN FRANCISCO CA 94104
| |
FBO SSR SIP DUP SSN
|
|||||
BOARD OF TTEE OF THE
SUPPLEMENTAL |
|||||
TRUSTEE |
|||||
INCOME TRUST FUND &
THEIR SUCCESSOR |
|||||
MIDCAP S&P 400 INDEX
(R-4) |
62.67 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP S&P 400 INDEX
(R-4) |
5.27 |
% |
ING NATIONAL TRUST
|
1 ORANGE WAY
| |
WINDSOR CT 06095-4773
| |||||
MIDCAP S&P 400 INDEX
(R-5) |
5.88 |
% |
JPMORGAN CHASE AS
TRUSTEE |
11500 OUTLOOK ST
| |
FBO GLOBAL BRASS AND
COPPER INC |
OVERLAND PARK KS
66211-1804 | ||||
RETIR SAVINGS PLAN
|
|||||
MIDCAP S&P 400 INDEX
(R-5) |
61.27 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE I
(INSTITUTIONAL) |
87.62 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
DES MOINES IA 50392-9992
| |||||
MIDCAP VALUE I (R-1)
|
95.45 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP VALUE I (R-2)
|
97.24 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE I (R-3)
|
87.57 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE I (R-4)
|
93.59 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE I (R-5)
|
78.03 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE I (R-5)
|
12 |
% |
JPMORGAN CHASE BANK
TTEE/CUST |
4 NEW YORK PLAZA
| |
FBO THE RETIREMENT PLANS
FOR WHICH |
NEW YORK NY 10004-2413
| ||||
TIAA-CREF ACTS AS
RECORDKEEPER |
|||||
MIDCAP VALUE III
(INSTITUTIONAL) |
18.56 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III
(INSTITUTIONAL) |
19.15 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III
(INSTITUTIONAL) |
9.53 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III
(INSTITUTIONAL) |
29.22 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III
(INSTITUTIONAL) |
6.04 |
% |
LIFETIME 2025 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III
(INSTITUTIONAL) |
5.33 |
% |
LIFETIME 2035 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
MIDCAP VALUE III (R-1)
|
12.96 |
% |
MID ATLANTIC TRUST
COMPANY |
1251 WATERFRONT PLACE
SUITE 525 | |
FBO EDELEN DOOR &
WINDOW 401 K PROFIT |
PITTSBURGH PA 15222-4228
| ||||
SHARING PLAN & TRUST
|
|||||
MIDCAP VALUE III (R-1)
|
77.57 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-2)
|
12.85 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MIDCAP VALUE III (R-2)
|
5.28 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-2)
|
78.57 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH ST
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-3)
|
69.49 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH ST
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-3)
|
12.17 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO FELD ENTERTAINMENT
INC 401K PLAN |
COVINGTON KY 41015-1987
| ||||
MIDCAP VALUE III (R-4)
|
43.76 |
% |
VRSCO |
2727-A ALLEN PARKWAY
4-D1 | |
FBO AIGFSB CUST TTEE FBO
|
HOUSTON TX 77019-2107
| ||||
ALLEGHENY COUNTY 457B
DEF COMP |
|||||
MIDCAP VALUE III (R-4)
|
44.28 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH ST
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-5)
|
11.11 |
% |
NFS LLC FEBO
|
440 MAMARONECK AVE
| |
STATE STREET BANK TRUST
CO |
HARRISON NY 10528-2418
| ||||
TTEE VARIOUS RETIREMENT
PLANS |
|||||
MIDCAP VALUE III (R-5)
|
47.85 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH ST
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
MIDCAP VALUE III (R-5)
|
25.18 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO DEF COMP OF HDR INC
|
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
MONEY MARKET (A)
|
37.21 |
% |
PERSHING LLC AS AGENT
|
ATTN CASH MANAGMENT
SERVICES | |
FOR ITS CUSTOMERS
|
1 PERSHING PLZ
| ||||
JERSEY CITY NJ
07399-0001 | |||||
MONEY MARKET (B)
|
32.44 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
MONEY MARKET (B)
|
5.45 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
MONEY MARKET (B)
|
5.75 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
MONEY MARKET (C)
|
6.72 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 |
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
MONEY MARKET (C)
|
10.42 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
MONEY MARKET
(INSTITUTIONAL) |
55.03 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
OVERSEAS (INSTITUTIONAL)
|
15.55 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
OVERSEAS (INSTITUTIONAL)
|
14.09 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
OVERSEAS (INSTITUTIONAL)
|
7.57 |
% |
LIFETIME 2050 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
OVERSEAS (INSTITUTIONAL)
|
20.44 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
711 HIGH ST
| |||||
DES MOINES IA 50392-0001
| |||||
OVERSEAS (INSTITUTIONAL)
|
23.77 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST. |
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
OVERSEAS (R-1)
|
100 |
% |
PRINCIPAL MANAGEMENT
CORPORATION |
ATTN: SUBSIDIARY ACCOUNT
N002-E020 | |
PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
DES MOINES IA 50392-9992
| |||||
OVERSEAS (R-2)
|
100 |
% |
PRINCIPAL MANAGEMENT
CORPORATION |
ATTN: SUBSIDIARY ACCOUNT
N002-E020 | |
PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
DES MOINES IA 50392-9992
| |||||
OVERSEAS (R-3)
|
94.01 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
OVERSEAS (R-3)
|
5.43 |
% |
PRINCIPAL MANAGEMENT
CORPORATION |
ATTN: SUBSIDIARY ACCOUNT
N002-E020 | |
PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
DES MOINES IA 50392-9992
| |||||
OVERSEAS (R-4)
|
92.26 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
OVERSEAS (R-4)
|
5.39 |
% |
CROSS MEDIAWORKS LLC
|
ATTN JESSICA LIPSON
| |
FBO CROSS MEDIAWORKS DEF
COMP PLAN |
499 7TH AVE 6TH FLOOR
NORTH TOWER | ||||
NEW YORK NY 10018-6803
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
OVERSEAS (R-5)
|
97.86 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL CAPITAL
APPRECIATION (A) |
40.67 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION (A) |
6.83 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL CAPITAL
APPRECIATION (B) |
53.24 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION (B) |
6 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL CAPITAL
APPRECIATION (C) |
23.76 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL CAPITAL
APPRECIATION (C) |
9.17 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
PRINCIPAL CAPITAL
APPRECIATION |
17.96 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST. |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
PRINCIPAL CAPITAL
APPRECIATION |
22 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION |
5.06 |
% |
SAM CONS BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION |
19.64 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION |
14.11 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL CAPITAL
APPRECIATION (P) |
38.82 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
PRINCIPAL CAPITAL
APPRECIATION (P) |
17.31 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL CAPITAL
APPRECIATION (P) |
14.73 |
% |
RBC CAPITAL MARKETS LLC
|
ATTN MUTUAL FUND OPS
MANAGER | |
MUTUAL FUND OMNIBUS
PROCESSING |
510 MARQUETTE AVE S
| ||||
OMNIBUS |
MINNEAPOLIS MN
55402-1110 | ||||
PRINCIPAL CAPITAL
APPRECIATION (P) |
13.09 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
PRINCIPAL CAPITAL
APPRECIATION (P) |
10.8 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
PRINCIPAL CAPITAL
APPRECIATION (R-1) |
94.96 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL CAPITAL
APPRECIATION (R-2) |
99.68 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL CAPITAL
APPRECIATION (R-3) |
92.7 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL CAPITAL
APPRECIATION (R-4) |
90.96 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL CAPITAL
APPRECIATION (R-5) |
90.94 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2010
(A) |
6.72 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2010
(A) |
17.68 |
% |
BPPR AS TRUSTEE FBO
|
POPULAR STREET BUILDING
| |
POPULAR INC PUERTO RICO
SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME 2010
(A) |
5.09 |
% |
FRONTIER TRUST COMPANY
|
PO BOX 10758
| |
FBO CORRECTIONS
CORPORATION OF |
FARGO ND 58106-0758
| ||||
AMERICA
8192 |
|||||
PRINCIPAL LIFETIME 2010
(A) |
6.37 |
% |
BPPR AS TRUSTEE
|
POPULAR STREET BUILDING
| |
FBO EVERTEC INC PR SAVS
AND INVS PLAN |
153 PONCE DE LEON 8TH
FLOOR | ||||
SAN JUAN PR 00917-1245
| |||||
PRINCIPAL LIFETIME 2010
|
82.46 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2010
|
16.7 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME 2010
(R-1) |
99.43 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2010
(R-2) |
97.11 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2010
(R-3) |
90.8 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2010
(R-4) |
94.11 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2010
(R-5) |
90.19 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
|
40.03 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
|
58.12 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
(R-1) |
99.03 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
(R-2) |
91.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
(R-3) |
94.42 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
(R-4) |
93.56 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2015
(R-5) |
83.53 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2015
(R-5) |
7.13 |
% |
WELLS FARGO BANK FBO
|
1525 WEST WT HARRIS BLVD
| |
VARIOUS RETIREMENT PLANS
|
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC-1151
|
|||||
PRINCIPAL LIFETIME 2020
(A) |
7.2 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2020
(A) |
9.87 |
% |
BPPR AS TRUSTEE FBO
|
POPULAR STREET BUILDING
| |
POPULAR INC PUERTO RICO
SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME 2020
(A) |
6.13 |
% |
FRONTIER TRUST COMPANY
|
PO BOX 10758
| |
FBO CORRECTIONS
CORPORATION OF |
FARGO ND 58106-0758
| ||||
AMERICA
8192 |
|||||
PRINCIPAL LIFETIME 2020
(A) |
5.78 |
% |
BPPR AS
TRUSTEE |
POPULAR STREET BUILDING
| |
FBO EVERTEC INC PR SAVS
AND INVS PLAN |
153 PONCE DE LEON 8TH
FLOOR | ||||
SAN JUAN PR 00917-1245
| |||||
PRINCIPAL LIFETIME 2020
(B) |
9.01 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL LIFETIME 2020
(B) |
17.05 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2020
|
79.29 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME 2020
|
19.45 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME 2020
(R-1) |
98.94 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2020
(R-2) |
95.08 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2020
(R-3) |
91.88 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2020
(R-4) |
96.01 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2020
(R-5) |
89.19 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2025
|
37.99 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
|
60.01 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-1) |
98.46 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-2) |
94.56 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-3) |
95.46 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-4) |
94.13 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-5) |
82.33 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2025
(R-5) |
12.95 |
% |
WELLS FARGO BANK FBO
|
1525 WEST WT HARRIS BLVD
| |
VARIOUS RETIREMENT PLANS
|
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC-1151
|
|||||
PRINCIPAL LIFETIME 2030
(A) |
8.84 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2030
(A) |
7.45 |
% |
BPPR AS TRUSTEE FBO
|
POPULAR STREET BUILDING
| |
POPULAR INC PUERTO RICO
SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME 2030
(A) |
7.38 |
% |
FRONTIER TRUST COMPANY
|
PO BOX 10758
| |
FBO CORRECTIONS
CORPORATION OF |
FARGO ND 58106-0758
| ||||
AMERICA
8192 |
|||||
PRINCIPAL LIFETIME 2030
(B) |
7.31 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL LIFETIME 2030
(B) |
21.59 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2030
|
82.24 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME 2030
|
16.69 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME 2030
(R-1) |
98.02 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2030
(R-2) |
96.7 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2030
(R-3) |
95.44 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2030
(R-4) |
96.24 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2030
(R-5) |
90.64 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
|
35.13 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
|
62.43 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
G-012-N11 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
PRINCIPAL LIFETIME 2035
(R-1) |
99.99 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
(R-2) |
95.89 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
(R-3) |
97.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
(R-4) |
93.33 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2035
(R-5) |
77.98 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2035
(R-5) |
11.54 |
% |
WELLS FARGO BANK FBO
|
1525 WEST WT HARRIS BLVD
| |
VARIOUS RETIREMENT PLANS
|
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC-1151
|
|||||
PRINCIPAL LIFETIME 2040
(A) |
10.11 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2040
(A) |
10.28 |
% |
BPPR AS TRUSTEE
|
POPULAR STREET BUILDING
| |
FBO POPULAR INC PUERTO
RICO SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME 2040
(A) |
6.07 |
% |
FRONTIER TRUST
COMPANY |
PO BOX 10758
| |
FBO CORRECTIONS
CORPORATION OF |
FARGO ND 58106-0758
| ||||
AMERICA
8192 |
|||||
PRINCIPAL LIFETIME 2040
(B) |
10.65 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL LIFETIME 2040
(B) |
20.7 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2040
|
82.16 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME 2040
|
16.63 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME 2040
(R-1) |
99.01 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2040
(R-2) |
97.45 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2040
(R-3) |
95.56 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2040
(R-4) |
97.21 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2040
(R-5) |
91.92 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2045
|
31.49 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
|
65.21 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
G-012-N11 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
PRINCIPAL LIFETIME 2045
(R-1) |
99.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
(R-2) |
99.01 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
(R-3) |
97.33 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
(R-4) |
96.1 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
(R-5) |
85.53 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2045
(R-5) |
5.71 |
% |
WELLS FARGO BANK
|
1525 WEST WT HARRIS BLVD
| |
FBO VARIOUS RETIREMENT
PLANS |
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC-1151
|
|||||
PRINCIPAL LIFETIME 2045
(R-5) |
6.23 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO MAJOR LEAGUE SOCCER
401K PLAN |
COVINGTON KY 41015-1987
| ||||
PRINCIPAL LIFETIME 2050
(A) |
9.02 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2050
(A) |
13.87 |
% |
LPL FINANCIAL
|
9785 TOWNE CENTRE DRIVE
| |
A/C 1000-0005
|
SAN DIEGO CA 92121-1968
| ||||
PRINCIPAL LIFETIME 2050
(A) |
8.29 |
% |
BPPR AS TRUSTEE
|
POPULAR STREET BUILDING
| |
FBO POPULAR INC PUERTO
RICO SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME 2050
(A) |
5.27 |
% |
FRONTIER TRUST COMPANY
|
PO BOX 10758
| |
FBO CORRECTIONS
CORPORATION OF |
FARGO ND 58106-0758
| ||||
AMERICA
8192 |
|||||
PRINCIPAL LIFETIME 2050
(B) |
10.25 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2050
(B) |
18.09 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME 2050
|
86.16 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME 2050
|
12.75 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME 2050
(R-1) |
97.36 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2050
(R-2) |
98.89 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP QUALIFIED |
711 HIGH STREET
| ||||
PRIN ADVTG OMNIBUS
|
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2050
(R-3) |
95.98 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP QUALIFIED |
711 HIGH STREET
| ||||
PRIN ADVTG OMNIBUS
|
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2050
(R-4) |
96 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2050
(R-5) |
91.7 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
|
17.46 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
|
79.64 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
G-012-N11 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
PRINCIPAL LIFETIME 2055
(R-1) |
98.88 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
(R-2) |
97.08 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
(R-3) |
97.82 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2055
(R-4) |
9.9 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
PRINCIPAL LIFETIME 2055
(R-4) |
88.33 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
(R-5) |
79.99 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2055
(R-5) |
6.33 |
% |
WELLS FARGO BANK FBO
|
1525 WEST WT HARRIS BLVD
| |
VARIOUS RETIREMENT PLANS
|
CHARLOTTE NC 28288-1076
| ||||
9888888836 NC-1151
|
|||||
PRINCIPAL LIFETIME 2055
(R-5) |
11.24 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO MAJOR LEAGUE SOCCER
401K PLAN |
COVINGTON KY 41015-1987
| ||||
PRINCIPAL LIFETIME 2060
|
84.56 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
G-012-S41 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
|
10.22 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(J) |
6.12 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
17 SALEM DR
| |
IRA OF WAN X ZHU
|
STONY BROOK NY
11790-1322 | ||||
PRINCIPAL LIFETIME 2060
(J) |
7.33 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
1897 NE LAURIE VEI LOOP
| |
IRA KATHERINE F CROWLEY
|
POULSBO WA 98370-8048
| ||||
PRINCIPAL LIFETIME 2060
(J) |
10.66 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
7667 APRILWOOD CT
| |
IRA CASEY D BARNES
|
ORLANDO FL 32819-7757
| ||||
PRINCIPAL LIFETIME 2060
(R-1) |
79.85 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-1) |
15.99 |
% |
PRINCIPAL MANAGEMENT
CORPORATION |
ATTN: SUBSIDIARY ACCOUNT
N002-E020 | |
PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME 2060
(R-2) |
83.59 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-2) |
14.96 |
% |
PRINCIPAL MANAGEMENT
CORPORATION |
ATTN: SUBSIDIARY ACCOUNT
N002-E020 | |
PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
DES MOINES IA 50392-9992
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME 2060
(R-3) |
7.78 |
% |
NFS LLC FEBO
|
14431 VENTURA BLVD # 165
| |
NFS/FMTC IRA
|
SHERMAN OAKS CA
91423-2606 | ||||
FBO RICHARD J WELCH
|
|||||
PRINCIPAL LIFETIME 2060
(R-3) |
38.31 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-3) |
49.45 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH STREET
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-4) |
90.57 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-4) |
5.72 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH STREET
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-5) |
79.16 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME 2060
(R-5) |
15.91 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH STREET
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (A) |
11.41 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
PRINCIPAL LIFETIME
STRATEGIC INC (A) |
10.8 |
% |
BPPR AS TRUSTEE FBO
|
POPULAR STREET BUILDING
| |
PMA RETIREMENT PLAN
|
153 PONCE DE LEON AVE
8TH FLOOR | ||||
SAN JUAN PR 00917
| |||||
PRINCIPAL LIFETIME
STRATEGIC INC (A) |
16.88 |
% |
BPPR AS TRUSTEE
|
POPULAR STREET BUILDING
| |
FBO POPULAR INC PUERTO
RICO SAVINGS |
153 PONCE DE LEON AVE
8TH FLOOR | ||||
AND INVESTMENT PLAN
|
SAN JUAN PR 00917
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (A) |
8.9 |
% |
BPPR AS TRUSTEE
|
POPULAR STREET BUILDING
| |
FBO EVERTEC INC PR SAVS
AND INVS PLAN |
153 PONCE DE LEON 8TH
FLOOR | ||||
SAN JUAN PR 00917-1245
| |||||
PRINCIPAL LIFETIME
STRATEGIC INC (B) |
5.12 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
PRINCIPAL LIFETIME
STRATEGIC INC (B) |
25.77 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
PRINCIPAL LIFETIME
STRATEGIC INC (B) |
7.78 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
2601 NW 30TH ST
| |
IRA ANGELA L WOODWARD
|
OKLAHOMA CITY OK
73112-7603 | ||||
PRINCIPAL LIFETIME
STRATEGIC INC (B) |
31.3 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
31 HARVARD ST
| |
IRA FREDRIC M WHITEHEAD
|
NASHUA NH 03060-6324
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC |
88.11 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
PRINCIPAL LIFETIME
STRATEGIC INC |
10.53 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| |||
DES MOINES IA 50392-0001
| |||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-1) |
98.2 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-2) |
96.42 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-3) |
92.52 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-4) |
87.22 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-5) |
77.48 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
PRINCIPAL LIFETIME
STRATEGIC INC (R-5) |
9.27 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO PCSD INC MEDICAL
GROUP 401K PLAN |
COVINGTON KY 41015-1987
| ||||
REAL ESTATE SECURITIES
(A) |
13.29 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
REAL ESTATE SECURITIES
(A) |
7.65 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY A/C FOR
THE |
101 MONTGOMERY ST
| ||||
BENEFIT OF CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
REAL ESTATE SECURITIES
(B) |
5.45 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
REAL ESTATE SECURITIES
(B) |
15.28 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
REAL ESTATE SECURITIES
(B) |
7.81 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
REAL ESTATE SECURITIES
(C) |
7.93 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
REAL ESTATE SECURITIES
(C) |
15.66 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
REAL ESTATE SECURITIES
(C) |
16.05 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
REAL ESTATE SECURITIES
(C) |
6.02 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
REAL ESTATE SECURITIES
(C) |
8.52 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
REAL ESTATE SECURITIES
(C) |
5.06 |
% |
CHARLES SCHWAB & CO
INC |
ATTN MUTUAL FUNDS
| |
SPECIAL CUSTODY ACCT
|
101 MONTGOMERY ST
| ||||
FBO CUSTOMERS
|
SAN FRANCISCO CA
94104-4151 | ||||
REAL ESTATE SECURITIES
|
32.99 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
REAL ESTATE SECURITIES
|
15.09 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
(INSTITUTIONAL)
|
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | |||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
REAL ESTATE SECURITIES
|
11.86 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
|
5.98 |
% |
NEW YORK LIFE PROGRESS
SHARING |
C/O GARY WENDLANDT
| |
(INSTITUTIONAL)
|
INVESTMENT PLAN TRUST
|
51 MADISON AVE RM 1305
| |||
NEW YORK NY 10010-1603
| |||||
REAL ESTATE SECURITIES
(P) |
18.88 |
% |
MORGAN STANLEY SMITH
BARNEY |
PLAZA 2 3RD FLOOR
| |
HARBOR FINANCIAL CENTER
|
JERSEY CITY NJ 07311
| ||||
REAL ESTATE SECURITIES
(P) |
11.81 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
REAL ESTATE SECURITIES
(P) |
11.87 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
REAL ESTATE SECURITIES
(P) |
11.33 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
REAL ESTATE SECURITIES
(P) |
8.13 |
% |
RBC CAPITAL MARKETS LLC
|
ATTN MUTUAL FUND OPS
MANAGER | |
MUTUAL FUND OMNIBUS
PROCESSING |
510 MARQUETTE AVE S
| ||||
OMNIBUS |
MINNEAPOLIS MN
55402-1110 | ||||
REAL ESTATE SECURITIES
(P) |
10.13 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
REAL ESTATE SECURITIES
(P) |
24.85 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
REAL ESTATE SECURITIES
(R-1) |
76.9 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
(R-2) |
10.38 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
REAL ESTATE SECURITIES
(R-2) |
80.48 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
(R-3) |
75.5 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
(R-4) |
75.4 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
(R-4) |
11.83 |
% |
NEW YORK LIFE TRUST
COMPANY |
169 LACKAWANNA AVE
| |
PARSIPPANY NJ 07054-1007
| |||||
REAL ESTATE SECURITIES
(R-5) |
12.52 |
% |
WTRISC AS TTEE FBO SHEET
METAL |
PO BOX 52129
| |
WORKERS LOCAL 104
|
PHOENIX AZ 85072-2129
| ||||
REAL ESTATE SECURITIES
(R-5) |
18.64 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO SUPERIOR OFFICERS
COUNCIL CUST |
711 HIGH STREET
| ||||
INV FOF |
DES MOINES IA 50392-0001
| ||||
REAL ESTATE SECURITIES
(R-5) |
51.71 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (A)
|
24.95 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M BALANCED (A)
|
12.35 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M BALANCED (B)
|
37.48 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M BALANCED (B)
|
8.69 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M BALANCED (C)
|
6.32 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
S A M BALANCED (C)
|
15.04 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M BALANCED (C)
|
7.77 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
S A M BALANCED (C)
|
7.03 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M BALANCED
|
94.42 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
T-008-E20 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
S A M BALANCED (R-1)
|
88.11 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (R-2)
|
93.43 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (R-2)
|
6.2 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (R-3)
|
95.72 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (R-4)
|
17.44 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
S A M BALANCED (R-4)
|
72.52 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M BALANCED (R-5)
|
87.04 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M BALANCED (R-5)
|
9.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (A) |
13.68 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M CONSERVATIVE
BALANCED (A) |
16.06 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
BALANCED (B) |
22.97 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M CONSERVATIVE
BALANCED (B) |
14.44 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
BALANCED (C) |
5.19 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
S A M CONSERVATIVE
BALANCED (C) |
16.93 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
BALANCED (C) |
7.73 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
S A M CONSERVATIVE
BALANCED (C) |
9.22 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M CONSERVATIVE
BALANCED (C) |
5.89 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
S A M CONSERVATIVE
BALANCED |
96.91 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
T-008-E20 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
S A M CONSERVATIVE
BALANCED (R-1) |
85.72 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (R-1) |
6.74 |
% |
COUNSEL TRUST DBA MATC
|
1251 WATERFRONT PL STE
525 | |
FBO ELAINE GANTZ D D S P
C 401 K |
PITTSBURGH PA 15222-4228
| ||||
PROFIT SHARING PLAN
& TRUST |
|||||
S A M CONSERVATIVE
BALANCED (R-1) |
7.41 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M CONSERVATIVE
BALANCED (R-2) |
96.15 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (R-3) |
95.8 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (R-4) |
5.27 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
S A M CONSERVATIVE
BALANCED (R-4) |
88.92 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (R-5) |
75.39 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
BALANCED (R-5) |
6.96 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO M&M MGMT CO SUPP
RET & DC PLAN |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
S A M CONSERVATIVE
BALANCED (R-5) |
14.11 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (A) |
15.65 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M CONSERVATIVE
GROWTH (A) |
10.51 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
GROWTH (B) |
15.65 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M CONSERVATIVE
GROWTH (B) |
7.86 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
GROWTH (B) |
5.03 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M CONSERVATIVE
GROWTH (C) |
10.79 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M CONSERVATIVE
GROWTH (C) |
6.53 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M CONSERVATIVE
GROWTH (C) |
6.52 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M CONSERVATIVE
GROWTH (C) |
6.67 |
% |
RAYMOND JAMES
|
ATTN: COURTNEY WALLER
| |
OMNIBUS FOR MUTUAL FUNDS
|
880 CARILLON PKWY
| ||||
HOUSE ACCT FIRM 92500015
|
ST PETERSBURG FL
33716-1102 | ||||
S A M CONSERVATIVE
GROWTH |
96.2 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
T-008-E20 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
S A M CONSERVATIVE
GROWTH (R-1) |
86.48 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-1) |
10.08 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-2) |
95.84 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-3) |
96.73 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-4) |
9.04 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
S A M CONSERVATIVE
GROWTH (R-4) |
86.63 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-5) |
89.46 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M CONSERVATIVE
GROWTH (R-5) |
7.08 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(A) |
19.62 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M FLEXIBLE INCOME
(A) |
15.51 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M FLEXIBLE INCOME
(A) |
5.02 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M FLEXIBLE INCOME
(B) |
37.4 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M FLEXIBLE INCOME
(B) |
13.72 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M FLEXIBLE INCOME
(C) |
5.66 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
S A M FLEXIBLE INCOME
(C) |
16.98 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M FLEXIBLE INCOME
(C) |
7.58 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
S A M FLEXIBLE INCOME
(C) |
8.18 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M FLEXIBLE INCOME
|
93.13 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
T-008-E20 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
S A M FLEXIBLE INCOME
(R-1) |
80.8 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-1) |
16.65 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-2) |
92.39 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-2) |
7.6 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
NON-QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-3) |
86.49 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-3) |
6.15 |
% |
COUNSEL TRUST DBA MATC
|
1251 WATERFRONT PL STE
525 | |
FBO CENTER FOR
UROLOGICAL TREATMENT |
PITTSBURGH PA 15222-4228
| ||||
401 K PROFIT SHARING
PLAN & TRUST |
|||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M FLEXIBLE INCOME
(R-4) |
39.24 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
S A M FLEXIBLE INCOME
(R-4) |
53.32 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-5) |
84.59 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M FLEXIBLE INCOME
(R-5) |
6.68 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M STRATEGIC GROWTH
(A) |
13.86 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M STRATEGIC GROWTH
(A) |
9.46 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M STRATEGIC GROWTH
(B) |
13.69 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
S A M STRATEGIC GROWTH
(B) |
5.8 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M STRATEGIC GROWTH
(C) |
5.32 |
% |
NATIONAL FINANCIAL
SERVICES LLC |
499 WASHINGTON BLVD
| |
FOR THE EXCL BENE OF OUR
CUSTOMERS |
ATTN MUTUAL FUNDS DEPT
4TH FL | ||||
JERSEY CITY NJ
07310-2010 | |||||
S A M STRATEGIC GROWTH
(C) |
8.75 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
S A M STRATEGIC GROWTH
(C) |
6.14 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
S A M STRATEGIC GROWTH
(C) |
8.49 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
S A M STRATEGIC GROWTH
|
94.42 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
T-008-E20 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
S A M STRATEGIC GROWTH
(R-1) |
90.31 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
S A M STRATEGIC GROWTH
(R-1) |
8.5 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M STRATEGIC GROWTH
(R-2) |
99.12 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M STRATEGIC GROWTH
(R-3) |
97.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M STRATEGIC GROWTH
(R-4) |
40.79 |
% |
JP MORGAN HSA
|
ATTN LIZ SHEEHAN
| |
1 CHASE MANHATTAN PLZ FL
3 | |||||
NEW YORK NY 10005-1401
| |||||
S A M STRATEGIC GROWTH
(R-4) |
52.69 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
S A M STRATEGIC GROWTH
(R-5) |
90.66 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SHORT-TERM INCOME (A)
|
31.5 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
SHORT-TERM INCOME (A)
|
6.98 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
SHORT-TERM INCOME (C)
|
21.9 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
SHORT-TERM INCOME (C)
|
15.09 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
SHORT-TERM INCOME (C)
|
6.17 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
SHORT-TERM INCOME (C)
|
10.75 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 | |||||
SHORT-TERM INCOME
|
6.95 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(INSTITUTIONAL)
|
JERSEY CITY NJ
07399-0001 | ||||
SHORT-TERM INCOME
|
8.93 |
% |
LIFETIME 2010 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SHORT-TERM INCOME
|
7.02 |
% |
LIFETIME STRATEGIC
INCOME FUND |
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SHORT-TERM INCOME
|
23.26 |
% |
PRINCIPAL LIFE INSURANCE
CO CUST |
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
G-012-S41 | |||
OMNIBUS WRAPPED
|
DES MOINES IA 50392-9992
| ||||
SHORT-TERM INCOME
|
10.66 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SHORT-TERM INCOME
|
5.98 |
% |
SAM CONS BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SHORT-TERM INCOME
|
9.93 |
% |
SAM FLEXIBLE INCOME PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SHORT-TERM INCOME (P)
|
26.86 |
% |
MORGAN STANLEY SMITH
BARNEY |
HARBOR FINANCIAL CENTER
| |
PLAZA 2 3RD FLOOR
| |||||
JERSEY CITY NJ 07311
| |||||
SHORT-TERM INCOME (P)
|
5.07 |
% |
LPL FINANCIAL
|
ATTN MUTUAL FUND
OPERATIONS | |
FBO CUSTOMER ACCOUNTS
|
PO BOX 509046
| ||||
SAN DIEGO CA 92150-9046
| |||||
SHORT-TERM INCOME (P)
|
19.99 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
SHORT-TERM INCOME (P)
|
37.83 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR EAST
3RD FL | ||||
JACKSONVILLE FL
32246-6484 | |||||
SHORT-TERM INCOME (R-1)
|
67.42 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
SHORT-TERM INCOME (R-1)
|
27.59 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO R L STONE COMPANY
INC 401K PLAN |
COVINGTON KY 41015-1987
| ||||
SHORT-TERM INCOME (R-2)
|
94.04 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SHORT-TERM INCOME (R-3)
|
83.32 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SHORT-TERM INCOME (R-4)
|
8.41 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO NQ BENEFIT FOR HCES
OF MIECO |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
SHORT-TERM INCOME (R-4)
|
27.46 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO INSURITY INC DEF
COMP PLAN |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
SHORT-TERM INCOME (R-4)
|
61.45 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SHORT-TERM INCOME (R-5)
|
8.3 |
% |
AMERICAN ENTERPRISE
SERVICES INC |
ATTN PATRICIA ANDERSON
| |
FBO AES SUPPLEMENTAL
BENEFIT PLAN |
601 6TH AVE
| ||||
DES MOINES IA 50309-1605
| |||||
SHORT-TERM INCOME (R-5)
|
15.6 |
% |
PRINCIPAL TRUST COMPANY
|
ATTN SUSAN SAGGIONE
| |
FBO ASSOCIATED BANC-CORP
DEFERRED C |
1013 CENTRE RD
| ||||
WILMINGTON DE 19805-1265
| |||||
SHORT-TERM INCOME (R-5)
|
6.41 |
% |
CHURCHILL MORTGAGE
CORPORATION |
ATTN SHEREE BARLETT
| |
FBO CHURCHILL MORTGAGE
CORPORATION |
761 OLD HICKORY BLVD STE
400 | ||||
INCENTIVE BONUS PLAN
|
BRENTWOOD TN 37027-4519
| ||||
SHORT-TERM INCOME (R-5)
|
42.11 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SHORT-TERM INCOME (R-5)
|
5.19 |
% |
DELAWARE CHARTER GUAR
& TRUST CO |
1013 CENTRE RD
| |
D/B/A PRINCIPAL TRUST
COMPANY |
WILMINGTON DE 19805-1298
| ||||
INDEPENDENT
PHARMACISTS/RALEY'S |
|||||
RETIREE HEALTHCARE PLAN
|
|||||
SMALLCAP BLEND (A)
|
8.79 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
SMALLCAP BLEND (A)
|
6.96 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
SMALLCAP BLEND (B)
|
9.67 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
SMALLCAP BLEND (B)
|
11.54 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
SMALLCAP BLEND (C)
|
20.45 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
SMALLCAP BLEND
(INSTITUTIONAL) |
12.48 |
% |
THE PRINCIPAL TRUST FOR
POST- |
ATTN STEPHANIE WATTS
S-001-S60 | |
RETIREMENT MED BENE FR
INDV FIELD |
PRINCIPAL FINANCIAL
GROUP | ||||
61022 |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SMALLCAP BLEND
(INSTITUTIONAL) |
6.16 |
% |
PRINCIPAL TRUST FOR LIFE
INS |
ATTN STEPHANIE WATTS
S-001-S60 | |
BENEFITS FOR EE'S
61006 |
PRINCIPAL FINANCIAL
GROUP | ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP BLEND
(INSTITUTIONAL) |
6.49 |
% |
PRINCIPAL TRUST FOR
HEALTH |
ATTN STEPHANIE WATTS
S-001-S60 | |
BENEFITS FOR IND FIELD
61009 |
PRINCIPAL FINANCIAL
GROUP | ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP BLEND
(INSTITUTIONAL) |
61.44 |
% |
THE PRINCIPAL TRST FOR
POST-RET |
ATTN STEPHANIE WATTS
S-001-S60 | |
FOR MEDICAL BENEFITS FOR
EMPLOYEES |
PRINCIPAL FINANCIAL
GROUP | ||||
61021 |
DES MOINES IA 50392-0001
| ||||
SMALLCAP BLEND (R-1)
|
89.94 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP BLEND (R-2)
|
87.82 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP BLEND (R-2)
|
6.4 |
% |
STATE STREET BANK TTEE
CUST |
1 LINCOLN ST
| |
FBO ACCESS ADP 401(K)
PLAN |
BOSTON MA 02111-2900
| ||||
SMALLCAP BLEND (R-3)
|
82.21 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP BLEND (R-3)
|
5.47 |
% |
BUFFALO WILD WINGS INC
|
ATTN: ALISSA A. PARTEE
| |
FBO BUFFALO WILD WINGS
MGMT DC PLAN |
5500 WAYZATA BLVD; STE
1600 | ||||
MINNEAPOLIS MN
55416-1237 | |||||
SMALLCAP BLEND (R-4)
|
95.81 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP BLEND (R-5)
|
5.62 |
% |
BROOKFIELD ENGINEERING
LAB INC NQ |
MIDDLEBORO MA 02346
| |
EXCESS OF BROOKFIELD LAB
|
|||||
SMALLCAP BLEND (R-5)
|
13.05 |
% |
BANKERS TRUST COMPANY
|
ATTN DEBBIE WILLIAMS
| |
FBO HUNTING US HOLDINGS
NQ PLAN |
453 7TH ST
| ||||
DES MOINES IA 50309-4110
| |||||
SMALLCAP BLEND (R-5)
|
64.79 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP GROWTH I
|
6.27 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING H-221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP GROWTH I
|
6.83 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
|
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SMALLCAP GROWTH I
|
45.35 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
SMALLCAP GROWTH I
|
6.69 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP GROWTH I
|
5.86 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP GROWTH I (R-1)
|
93.95 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP GROWTH I (R-2)
|
89.4 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP GROWTH I (R-3)
|
86.75 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP GROWTH I (R-4)
|
95.36 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP GROWTH I (R-5)
|
87.73 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH ST
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP S&P 600
INDEX |
10.27 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
(INSTITUTIONAL)
|
JERSEY CITY NJ
07399-0001 | ||||
SMALLCAP S&P 600
INDEX |
31.65 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| |||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP S&P 600
INDEX |
26.71 |
% |
DIVERSIFIED GROWTH
ACCOUNT |
ATTN MUTUAL FUND
ACCOUNTING H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP S&P 600
INDEX |
7.95 |
% |
DIVERSIFIED BALANCED
ACCOUNT |
ATTN MUTUAL FUND
ACCOUNTING H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP S&P 600
INDEX (R-1) |
53.16 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SMALLCAP S&P 600
INDEX (R-1) |
8.36 |
% |
FIIOC |
100 MAGELLAN WAY
| |
FBO REACH MEDIA INC 401K
RET PLAN |
COVINGTON KY 41015-1987
| ||||
SMALLCAP S&P 600
INDEX (R-2) |
85.22 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP S&P 600
INDEX (R-3) |
60.84 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP S&P 600
INDEX (R-4) |
85.36 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP S&P 600
INDEX (R-5) |
69.28 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH ST
| ||||
QUALIFIED PRIN ADVTG
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP VALUE II
|
8.29 |
% |
LIFETIME 2020 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II
|
6.14 |
% |
LIFETIME 2040 FUND
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II
|
8.6 |
% |
LIFETIME 2030 FUND
|
ATTN MUTUAL FUND
ACCOUNTING- H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II
|
36.49 |
% |
PRINCIPAL LIFE INSURANCE
CO |
ATTN: RIS NPIO TRADE
DESK | |
(INSTITUTIONAL)
|
FBO PRINCIPAL FINANCIAL
GROUP |
711 HIGH STREET
| |||
DES MOINES IA 50392-9992
| |||||
SMALLCAP VALUE II
|
8.91 |
% |
SAM BALANCED PIF
|
ATTN MUTUAL FUND
ACCOUNTING -H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II
|
7.81 |
% |
SAM CONS GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II
|
5.16 |
% |
SAM STRATEGIC GROWTH PIF
|
ATTN MUTUAL FUND
ACCOUNTING-H221 | |
(INSTITUTIONAL)
|
711 HIGH ST
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II (R-1)
|
98.1 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
711 HIGH STREET
| |
FBO VARIOUS QUALIFIED
PLANS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP VALUE II (R-2)
|
97.91 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA
50392-0001 |
Fund/Class |
Percentage
of
Ownership |
Name
of Owner |
Address
of Owner | ||
SMALLCAP VALUE II (R-3)
|
85.76 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN: RIS NPIO TRADE
DESK | |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA
50392-0001 | ||||
SMALLCAP VALUE II (R-4)
|
89.62 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
DES MOINES IA 50392-0001
| |||||
SMALLCAP VALUE II (R-5)
|
9.37 |
% |
DCGT AS TTEE AND/OR CUST
|
ATTN NPIO TRADE DESK
| |
FBO PLIC VARIOUS
RETIREMENT PLANS |
711 HIGH STREET
| ||||
OMNIBUS |
DES MOINES IA 50392-0001
| ||||
SMALLCAP VALUE II (R-5)
|
83.67 |
% |
DELAWARE CHARTER
GUARANTEE & TRUST |
ATTN NPIO TRADE DESK
| |
FBO VARIOUS QUALIFIED
PLANS |
711 HIGH STREET
| ||||
FBO PRINCIPAL FINANCIAL
GROUP |
DES MOINES IA 50392-0001
| ||||
TAX-EXEMPT BOND (A)
|
7.29 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
TAX-EXEMPT BOND (B)
|
14.82 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
TAX-EXEMPT BOND (B)
|
25.44 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
TAX-EXEMPT BOND (B)
|
34.5 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
TAX-EXEMPT BOND (C)
|
8.88 |
% |
JP MORGAN CLEARING CORP
OMNIBUS |
3 CHASE METROTECH CENTER
| |
ACCT FBO CUSTOMERS
|
3RD FL MUTUAL FUND DEPT
| ||||
BROOKLYN NY 11245-0001
| |||||
TAX-EXEMPT BOND (C)
|
14.5 |
% |
PERSHING LLC
|
1 PERSHING PLZ
| |
JERSEY CITY NJ
07399-0001 | |||||
TAX-EXEMPT BOND (C)
|
13.82 |
% |
FIRST CLEARING LLC
|
2801 MARKET ST
| |
SPECIAL CUSTODY ACCT FOR
THE |
SAINT LOUIS MO
63103-2523 | ||||
EXCLUSIVE BENEFIT OF
CUSTOMER |
|||||
TAX-EXEMPT BOND (C)
|
8.28 |
% |
UBS WM USA
|
ATTN DEPARTMENT MANAGER
| |
0O0 11011 6100
|
1000 HARBOR BLVD 5TH FL
| ||||
OMNI ACCOUNT M/F
|
WEEHAWKEN NJ 07086-6761
| ||||
TAX-EXEMPT BOND (C)
|
16.69 |
% |
MLPF&S FOR THE SOLE
|
ATTN FUND ADMINISTRATION
| |
BENEFIT OF ITS CUSTOMERS
|
4800 DEER LAKE DR E FL 3
| ||||
JACKSONVILLE FL
32246-6484 |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Jake S.
Anonson: Global Diversified Income
Fund |
||||
Registered investment
companies |
2 |
$3.36 billion* |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Jessica S.
Bush: Global
Diversified Income Fund |
||||
Registered investment
companies |
2 |
$3.36 billion* |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Mark
Dummer: Global Diversified Income
Fund |
||||
Registered investment
companies |
2 |
$3.36 billion* |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
James W.
Fennessey: Global Diversified
Income, International I, LargeCap Blend II, LargeCap Growth I, LargeCap
Growth II, LargeCap Value I, LargeCap Value III, MidCap Growth III, MidCap
Value I, MidCap Value III, Overseas, Principal LifeTime Strategic Income,
2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060, SmallCap
Growth I, and SmallCap Value II Funds |
||||
Registered investment
companies |
18 |
$7.6 billion |
0 |
$0 |
Other pooled investment
vehicles |
24 |
$10.0 billion |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Kelly
Grossman: Global
Diversified Income Fund |
||||
Registered investment
companies |
2 |
$3.2 billion |
0 |
$0 |
Other pooled investment
vehicles |
1 |
$200 million |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Benjamin E.
Rotenberg: Global Diversified Income
Fund |
||||
Registered investment
companies |
2 |
$3.36 billion* |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Jeffrey R.
Tyler: Principal LifeTime
Strategic Income, 2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050,
2055, and 2060 Funds |
||||
Registered investment
companies |
7 |
$467 million |
0 |
$0 |
Other pooled investment
vehicles |
11 |
$8.2 billion |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Randy L.
Welch: International I, LargeCap Blend
II, LargeCap Growth I, LargeCap Growth II, LargeCap Value I, LargeCap
Value III, MidCap Growth III, MidCap Value I, MidCap Value III, Overseas,
Principal LifeTime Strategic Income, 2010, 2015, 2020, 2025, 2030, 2035,
2040, 2045, 2050, 2055, 2060, SmallCap Growth I, and SmallCap Value II
Funds |
||||
Registered investment
companies |
12 |
$3.4 billion |
0 |
$0 |
Other pooled investment
vehicles |
11 |
$8.2 billion |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Jake S.
Anonson* |
Global Diversified
Income |
$100,000 -
$500,000 |
Jessica S.
Bush* |
Global Diversified
Income |
None |
Marcus W.
Dummer* |
Global Diversified
Income |
None |
James W.
Fennessey* |
Global Diversified
Income |
None |
James W.
Fennessey |
International I |
None |
James W.
Fennessey |
LargeCap Blend
II |
None |
James W.
Fennessey |
LargeCap Growth
I |
None |
James W.
Fennessey |
LargeCap Growth
II |
None |
James W.
Fennessey |
LargeCap Value
I |
None |
James W.
Fennessey |
LargeCap Value
III |
None |
James W.
Fennessey |
MidCap Growth
III |
None |
James W.
Fennessey |
MidCap Value I |
None |
James W.
Fennessey |
MidCap Value
III |
None |
James W.
Fennessey |
Overseas |
None |
James W.
Fennessey |
Principal LifeTime Strategic
Income |
None |
James W.
Fennessey |
Principal LifeTime
2010 |
None |
James W.
Fennessey |
Principal LifeTime
2015 |
None |
James W.
Fennessey |
Principal LifeTime
2020 |
None |
James W.
Fennessey |
Principal LifeTime
2025 |
None |
James W.
Fennessey |
Principal LifeTime
2030 |
None |
James W.
Fennessey |
Principal LifeTime
2035 |
None |
James W.
Fennessey |
Principal LifeTime
2040 |
None |
James W.
Fennessey |
Principal LifeTime
2045 |
None |
James W.
Fennessey |
Principal LifeTime
2050 |
None |
James W.
Fennessey |
Principal LifeTime
2055 |
None |
James W.
Fennessey |
Principal LifeTime
2060 |
None |
James W.
Fennessey |
SmallCap Growth
I |
None |
James W.
Fennessey |
SmallCap Value
II |
None |
Kelly Grossman |
Global Diversified
Income |
$1 - $10,000 |
Benjamin E.
Rotenberg* |
Global Diversified
Income |
None |
Jeffrey R.
Tyler |
Principal LifeTime Strategic
Income |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2010 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2015 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2020 |
$50,001 -
$100,000 |
Jeffrey R.
Tyler |
Principal LifeTime
2025 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2030 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2035 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2040 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2045 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2050 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2055 |
None |
Jeffrey R.
Tyler |
Principal LifeTime
2060 |
None |
Randy L. Welch |
International I |
None |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Randy L. Welch |
LargeCap Blend
II |
None |
Randy L. Welch |
LargeCap Growth
I |
None |
Randy L. Welch |
LargeCap Growth
II |
None |
Randy L. Welch |
LargeCap Value
I |
None |
Randy L. Welch |
LargeCap Value
III |
None |
Randy L. Welch |
MidCap Growth
III |
None |
Randy L. Welch |
MidCap Value I |
None |
Randy L. Welch |
MidCap Value
III |
None |
Randy L. Welch |
Overseas |
None |
Randy L. Welch |
Principal LifeTime Strategic
Income |
None |
Randy L. Welch |
Principal LifeTime
2010 |
None |
Randy L. Welch |
Principal LifeTime
2015 |
None |
Randy L. Welch |
Principal LifeTime
2020 |
None |
Randy L. Welch |
Principal LifeTime
2025 |
None |
Randy L. Welch |
Principal LifeTime
2030 |
$100,001 -
$500,000 |
Randy L. Welch |
Principal LifeTime
2035 |
None |
Randy L. Welch |
Principal LifeTime
2040 |
None |
Randy L. Welch |
Principal LifeTime
2045 |
None |
Randy L. Welch |
Principal LifeTime
2050 |
None |
Randy L. Welch |
Principal LifeTime
2055 |
None |
Randy L. Welch |
Principal LifeTime
2060 |
None |
Randy L. Welch |
SmallCap Growth
I |
None |
Randy L. Welch |
SmallCap Value
II |
None |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Martin
Hegarty: Inflation
Protection Fund |
||||
Registered investment
companies |
10 |
$8.89 billion |
0 |
$0 |
Other pooled investment
vehicles |
4 |
$268.5 billion |
0 |
$0 |
Other accounts |
31 |
$15.59 billion |
1 |
$.69 million |
Gargi
Chaudhuri: Inflation Protection
Fund |
||||
Registered investment
companies |
0 |
$0 |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Martin Hegarty |
Inflation
Protection |
None |
Gargi Chaudhuri |
Inflation
Protection |
None |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Thomas J.
Bisighini: LargeCap Growth
Fund |
||||
Registered investment
companies |
7 |
$1.3 billion |
0 |
$0 |
Other pooled investment
vehicles |
6 |
$580.2 million |
0 |
$0 |
Other accounts |
81 |
$5.0 billion |
1 |
$120 million |
Clifford G.
Fox: MidCap
Growth Fund |
||||
Registered investment
companies |
0 |
$0 |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
30 |
$734.2 million |
0 |
$0 |
Michael
Iacono: MidCap Growth
Fund |
||||
Registered investment
companies |
0 |
$0 |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
30 |
$734.2 million |
0 |
$0 |
Anthony
Rizza: LargeCap Growth
Fund |
||||
Registered investment
companies |
7 |
$1.3 billion |
0 |
$0 |
Other pooled investment
vehicles |
6 |
$580.2 million |
0 |
$0 |
Other accounts |
81 |
$5.0 billion |
1 |
$120 million |
Katerina
Wasserman: MidCap Growth
Fund |
||||
Registered investment
companies |
0 |
$0 |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
30 |
$734.2 million |
0 |
$0 |
a. |
Base Salary. Each member of
the professional staff is paid a fixed base salary, which varies depending
on the experience and responsibilities assigned to that individual. The
firm's goal is to maintain competitive base salaries through an annual
review process, which includes an analysis of industry standards, market
conditions, and salary surveys. |
b. |
Bonus. Each member of the
professional staff is eligible to receive an annual bonus. Targeted bonus
amounts vary among professional staff based on the experience level and
responsibilities. Bonus compensation is based upon the performance of the
investment strategy and the role that person plays in adding to the
overall value added to the portfolio(s). |
c. |
Equity Payments. Professional
staff who are equity partners of CCI receive also quarterly distributions
based upon their equity ownership share and firm profitability.
|
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities
Owned by the
Portfolio Manager |
Thomas J.
Bisighini |
LargeCap Growth |
None |
Clifford G. Fox |
MidCap Growth |
None |
Michael Iacono |
MidCap Growth |
None |
Anthony Rizza |
LargeCap Growth |
None |
Katerina
Wasserman |
MidCap Growth |
None |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Charles D.
Averill: SAM
Balanced, SAM Conservative Balanced, SAM Conservative Growth, SAM Flexible
Income and SAM Strategic Growth Portfolios |
||||
Registered investment
companies |
6 |
$2.2 billion |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Daniel R.
Coleman: Equity
Income and Principal Capital Appreciation Funds |
||||
Registered investment
companies |
3 |
$1.3 billion |
0 |
$0 |
Other pooled investment
vehicles |
3 |
$166.7 million |
0 |
$0 |
Other accounts |
1 |
$245.5 million |
0 |
$0 |
Jill R.
Cuniff: SAM
Balanced, SAM Conservative Balanced, SAM Conservative Growth, SAM Flexible
Income and SAM Strategic Growth Portfolios |
||||
Registered investment
companies |
5 |
$1.9 billion |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Phillip M.
Foreman: Principal
Capital Appreciation Fund |
||||
Registered investment
companies |
1 |
$37 million |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
John R.
Friedl: Government
& High Quality Bond, Income, and Short-Term Income
Funds |
||||
Registered investment
companies |
3 |
$928 million |
0 |
$0 |
Other pooled investment
vehicles |
1 |
$403.5 million |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
Todd A.
Jablonski: SAM
Balanced, SAM Conservative Balanced, SAM Conservative Growth, SAM Flexible
Income and SAM Strategic Growth Portfolios |
||||
Registered investment
companies |
6 |
$2.2 billion |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Ryan P.
McCann: Government
& High Quality Bond, Income, and Short-Term Income
Funds |
||||
Registered investment
companies |
3 |
$928 million |
0 |
$0 |
Other pooled investment
vehicles |
1 |
$403.5 million |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Scott J.
Peterson: Government & High
Quality Bond, Income, and Short-Term Income Funds |
||||
Registered investment
companies |
3 |
$928 million |
0 |
$0 |
Other pooled investment
vehicles |
1 |
$403.5 million |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Sarah E.
Radecki: Principal Capital
Appreciation Fund |
||||
Registered investment
companies |
1 |
$37 million |
0 |
$0 |
Other pooled investment
vehicles |
0 |
$0 |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
David W.
Simpson: Equity
Income Fund |
||||
Registered investment
companies |
2 |
$1.3 billion |
0 |
$0 |
Other pooled investment
vehicles |
3 |
$166.7 million |
0 |
$0 |
Other accounts |
1 |
$245.5 million |
0 |
$0 |
Gregory L.
Tornga: Government
& High Quality Bond, Income, and Short-Term Income Funds
|
||||
Registered investment
companies |
3 |
$928 million |
0 |
$0 |
Other pooled investment
vehicles |
1 |
$403.5 million |
0 |
$0 |
Other accounts |
0 |
$0 |
0 |
$0 |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Charles D.
Averill |
SAM Balanced
Portfolio |
None |
Charles D.
Averill |
SAM Conservative Balanced
Portfolio |
None |
Charles D.
Averill |
SAM Conservative Growth
Portfolio |
$100,001-$500,000 |
Charles D.
Averill |
SAM Flexible Income
Portfolio |
$100,001-$500,000 |
Charles D.
Averill |
SAM Strategic Growth
Portfolio |
$501,000-$1,000,000 |
Daniel R.
Coleman |
Equity Income
Fund |
$50,001-$100,000 |
Daniel R.
Coleman |
Principal Capital Appreciation
Fund |
$100,001-$500,000 |
Jill R. Cuniff |
SAM Balanced
Portfolio |
$100,001-$500,000 |
Jill R. Cuniff |
SAM Conservative Balanced
Portfolio |
None |
Jill R. Cuniff |
SAM Conservative Growth
Portfolio |
None |
Jill R. Cuniff |
SAM Flexible Income
Portfolio |
None |
Jill R. Cuniff |
SAM Strategic Growth
Portfolio |
None |
Philip M.
Foreman |
Principal Capital Appreciation
Fund |
$100,001-$500,000 |
John R. Friedl |
Government & High Quality
Bond Fund |
None |
John R. Friedl |
Income Fund |
None |
John R. Friedl |
Short-Term Income
Fund |
None |
Todd A.
Jablonski |
SAM Balanced
Portfolio |
$10,001-$50,000 |
Todd A.
Jablonski |
SAM Conservative Balanced
Portfolio |
None |
Todd A.
Jablonski |
SAM Conservative Growth
Portfolio |
None |
Todd A.
Jablonski |
SAM Flexible Income
Portfolio |
None |
Todd A.
Jablonski |
SAM Strategic Growth
Portfolio |
None |
Ryan P. McCann |
Government & High Quality
Bond Fund |
None |
Ryan P. McCann |
Income Fund |
None |
Ryan P. McCann |
Short-Term Income
Fund |
None |
Scott J.
Peterson |
Government & High Quality
Bond Fund |
None |
Scott J.
Peterson |
Income Fund |
None |
Scott J.
Peterson |
Short-Term Income
Fund |
$50,001-$100,000 |
Sarah E.
Radecki |
Principal Capital Appreciation
Fund |
$10,001-$50,000 |
David W.
Simpson |
Equity Income
Fund |
$100,001-$500,000 |
Gregory L.
Tornga |
Government & High Quality
Bond Fund |
$10,001-$50,000 |
Gregory L.
Tornga |
Income Fund |
$10,001-$50,000 |
Gregory L.
Tornga |
Short-Term Income
Fund |
$10,001-$50,000 |
Other
Accounts Managed | ||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |
James E.
Gibson: High Yield Fund
I |
||||
Registered Investment
Companies |
2 |
$1.1 billion |
1 |
$151 million |
Other Pooled Investment
Vehicles |
0 |
$0 |
0 |
$0 |
Other Accounts |
0 |
$0 |
0 |
$0 |
William J.
Morgan: High Yield Fund
I |
2 |
$1.1 billion |
1 |
$151 million |
Registered Investment
Companies |
0 |
$0 |
0 |
$0 |
Other Pooled Investment
Vehicles |
0 |
$0 |
0 |
$0 |
Other Accounts |
||||
James P.
Shanahan: High Yield Fund
I |
||||
Registered Investment
Companies |
10 |
$23.2 billion |
1 |
$151 million |
Other Pooled Investment
Vehicles |
22 |
$6.1 billion |
0 |
$0 |
Other Accounts |
13 |
$3.2 billion |
0 |
$0 |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities
Owned by the
Portfolio Manager |
James E. Gibson |
High Yield I |
None |
William J.
Morgan |
High Yield I |
None |
James P.
Shanahan |
High Yield I |
None |
Other
Accounts Managed* | ||||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total Assets
of the Accounts that base the Advisory Fee on
Performance | |||||
Ann H.
Benjamin: High Yield Fund
I |
||||||||
Registered investment
companies |
5 |
$4.6 billion |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
9 |
$16.7 billion |
|
1 |
$506 million |
| ||
Other accounts |
29 |
$7.7 billion |
|
0 |
|
$0 |
| |
William
(Russ) Covode: High Yield Fund
I |
||||||||
Registered investment
companies |
4 |
$4.0 billion |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
8 |
$15.2 billion |
|
1 |
$506 million |
| ||
Other accounts |
29 |
$7.7 billion |
|
0 |
|
$0 |
| |
Daniel
Doyle: High
Yield Fund I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
1 |
$778.9 million |
|
0 |
|
$0 |
| |
Other accounts |
0 |
|
$0 |
|
0 |
|
$0 |
|
Thomas P.
O'Reilly: High Yield Fund
I |
||||||||
Registered investment
companies |
5 |
$4.6 billion |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
9 |
$16.7 billion |
|
1 |
$506 million |
| ||
Other accounts |
29 |
$7.7 billion |
|
0 |
|
$0 |
|
• |
Employee-Owned Equity. An
integral part of our management buyout was the implementation of an equity
ownership structure which embodies the importance of incentivizing and
retaining key investment professionals. Investment professionals have
received a majority of the equity units owned by all employees.
|
• |
Contingent Compensation.
Neuberger Berman established the Neuberger Berman Group Contingent
Compensation Plan (the "CCP") to serve as a means to further align the
interests of our employees with the success of the firm and the interests
of our clients, and to reward continued employment. Under the CCP, a
percentage of a participant's total compensation is contingent and tied to
the performance of a portfolio of Neuberger Berman investment strategies
as specified by the firm on an employee-by-employee basis. By having a
participant's contingent compensation tied to Neuberger Berman investment
strategies, each employee is given further incentive to operate as a
prudent risk manager and to collaborate with colleagues to maximize
performance across all business areas. In the case of Portfolio Managers,
the CCP is currently structured so that such employees have exposure to
the investment strategies of their respective teams as well as the broader
Neuberger Berman portfolio. In addition, certain CCP Participants may make
an election to direct a portion of future Contingent Amounts into a
program involving cash, equity or other property subject to vesting
provisions and other provisions generally consistent with those of the
traditional CCP. Subject to satisfaction of certain conditions of the CCP
(including conditions relating to continued employment), contingent
amounts will vest over three years. Neuberger Berman determines annually
which employees participate in the program based on total compensation for
the applicable year. |
• |
Restrictive Covenants. Most
investment professionals are subject to notice periods and restrictive
covenants which include non-solicit restrictions. In addition, depending
on participation levels, certain senior professionals who have received
equity grants have also agreed to additional notice and transition periods
and, in some cases, non-compete
restrictions. |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities
Owned by the
Portfolio Manager |
Ann H. Benjamin |
High Yield I |
None |
William (Russ)
Covode |
High Yield I |
None |
Daniel Doyle |
High Yield I |
None |
Thomas P.
O’Reilly |
High Yield I |
None |
Other
Accounts Managed | ||||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||||
John
Birkhold: International Fund
I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$232 million |
1 |
$83 million | ||||
Other accounts |
22 |
$2.3 billion |
3 |
$535 million | ||||
Chris
Carter: International Fund I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$232 million |
1 |
$83 million | ||||
Other accounts |
22 |
$2.3 billion |
3 |
$535 million | ||||
Nigel
Dutson: International Fund I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$232 million |
1 |
$83 million | ||||
Other accounts |
22 |
$2.3 billion |
3 |
$535
million |
Other
Accounts Managed | ||||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||||
Tarlock
Randhawa: International Fund
I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$232 million |
1 |
$83 million | ||||
Other accounts |
22 |
$2.3 billion |
3 |
$535 million | ||||
Nerys
Weir: International Fund
I |
||||||||
Registered investment
companies |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$232 million |
1 |
$83 million | ||||
Other accounts |
22 |
$2.3 billion |
3 |
$535
million |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
John Birkhold |
International Fund
I |
None |
Chris Carter |
International Fund
I |
None |
Nigel Dutson |
International Fund
I |
None |
Tarlock
Randhawa |
International Fund
I |
None |
Nerys Weir |
International Fund
I |
None |
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
William H.
Gross: Core
Plus Bond Fund I |
||||||
Registered investment
companies |
42 |
$379.9 billion |
0 |
|
$0 |
|
Other pooled investment
vehicles |
19 |
$34.9 billion |
1 |
$161 million |
| |
Other accounts |
57 |
$32.1 billion |
10 |
$6.7 billion |
|
• |
Base
Salary - Base
salary is determined based on core job responsibilities, positions/levels,
and market factors. Base salary levels are reviewed annually, when there
is a significant change in job responsibilities or a significant change in
the market. Base salary is paid in regular installments throughout the
year and payment dates are in line with local
practice. |
• |
Performance
Bonus -
Performance bonuses are designed to reward individual performance. Each
professional and his or her supervisor will agree upon performance
objectives to serve as a basis for performance evaluation during the year.
The objectives will outline individual goals according to pre-established
measures of the group or department success. Achievement against these
goals as measured by the employee and supervisor will be an important, but
not exclusive, element of the bonus decision process. Award amounts are
determined at the discretion of the Compensation Committee (and/or certain
senior portfolio managers, as appropriate) and will also consider firm
performance. |
• |
Equity or
Long Term Incentive Compensation -
Equity allows key
professionals to participate in the long-term growth of the firm. This
program provides mid to senior level employees with the potential to
acquire an equity stake in PIMCO over their careers and to better align
employee incentives with the firm’s long-term results. These options vest
over a number of years and may convert into PIMCO equity which shares in
the profit distributions of the firm. M Units are non-voting common equity
of PIMCO and provide a mechanism for individuals to build a significant
equity stake in PIMCO over time. Employees who reach a total compensation
threshold are delivered their annual compensation in a mix of cash and
option awards. PIMCO incorporates a progressive allocation of option
awards as a percentage of total compensation which is in line with market
practices. |
• |
3-year, 2-year and 1-year
dollar-weighted and account-weighted, pre-tax investment performance as
judged against the applicable benchmarks for each account managed by a
portfolio manager (including the Funds) and relative to applicable
industry peer groups; |
• |
Appropriate risk positioning
that is consistent with PIMCO’s investment philosophy and the Investment
Committee/CIO approach to the generation of alpha;
|
• |
Amount and nature of assets
managed by the portfolio manager; |
• |
Consistency of investment
performance across portfolios of similar mandate and guidelines (reward
low dispersion); |
• |
Generation and contribution of
investment ideas in the context of PIMCO’s secular and cyclical forums,
portfolio strategy meetings, Investment Committee meetings, and on a
day-to-day basis; |
• |
Absence of defaults and price
defaults for issues in the portfolios managed by the portfolio
manager; |
• |
Contributions to asset
retention, gathering and client
satisfaction; |
• |
Contributions to mentoring,
coaching and/or supervising; and |
• |
Personal growth and skills
added. |
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
William H.
Gross |
Core Plus Bond
I |
None |
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
Paul H.
Blankenhagen: Diversified International
Fund |
||||||
Registered investment
companies |
1 |
$501.9 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$2.9 billion |
0 |
|
$0 |
|
Other accounts |
3 |
$298.6 million |
0 |
|
$0 |
|
Juliet Cohn:
Diversified
International Fund |
||||||
Registered investment
companies |
1 |
$501.9 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$2.9 billion |
0 |
|
$0 |
|
Other accounts |
4 |
$394.7 million |
1 |
$19.6 million |
| |
Mihail
Dobrinov: International Emerging Markets
Fund |
||||||
Registered investment
companies |
2 |
$1.9 billion |
1 |
$3.0 million |
| |
Other pooled investment
vehicles |
1 |
$913.3 million |
0 |
|
$0 |
|
Other accounts |
13 |
$2.5 billion |
7 |
$808.1 million |
| |
Arild Holm:
LargeCap Value
Fund |
||||||
Registered investment
companies |
1 |
$162.3 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$680.2 million |
0 |
|
$0 |
|
Other accounts |
2 |
$93.1 million |
0 |
|
$0 |
|
Thomas L.
Kruchten: LargeCap S&P 500
Index, MidCap S&P 400 Index, and SmallCap S&P 600 Index
Funds |
||||||
Registered investment
companies |
2 |
$1.9 billion |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$17.1 billion |
0 |
|
$0 |
|
Other accounts |
1 |
$129.5 million |
0 |
|
$0 |
|
K. William
Nolin: MidCap
Fund |
||||||
Registered investment
companies |
2 |
$1.0 billion |
0 |
|
$0 |
|
Other pooled investment
vehicles |
19 |
$2.7 billion |
0 |
|
$0 |
|
Other accounts |
7 |
$84.5 million |
0 |
|
$0 |
|
Phil
Nordhus: SmallCap
Blend Fund |
||||||
Registered investment
companies |
1 |
$61.1 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
6 |
$1.1 billion |
0 |
|
$0 |
|
Other accounts |
2 |
$6.9 million |
1 |
$0.2 million |
| |
Brian
Pattinson: SmallCap Blend
Fund |
||||||
Registered investment
companies |
1 |
$61.1 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
7 |
$1.9 billion |
0 |
|
$0 |
|
Other accounts |
5 |
$1.1 billion |
3 |
$191.4 million |
| |
Tom
Rozycki: MidCap
Fund |
||||||
Registered investment
companies |
2 |
$1.0 billion |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$2.0 billion |
0 |
|
$0 |
|
Other accounts |
7 |
$84.5 million |
0 |
|
$0 |
|
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
Jeffrey A.
Schwarte: LargeCap
Value Fund |
||||||
Registered investment
companies |
2 |
$485.3 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
6 |
$1.0 billion |
0 |
|
$0 |
|
Other accounts |
4 |
$284.3 million |
1 |
$1.3 million |
| |
Mohammed
Zaidi: International Emerging Markets
Fund |
||||||
Registered investment
companies |
2 |
$118.9 million |
1 |
$3 million |
| |
Other pooled investment
vehicles |
1 |
$913.3 million |
0 |
|
$0 |
|
Other accounts |
15 |
$2.5 billion |
7 |
$808.1 million |
|
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities
Owned by the
Portfolio Manager |
Paul H.
Blankenhagen |
Diversified
International |
$10,001 -
$50,000 |
Juliet Cohn |
Diversified
International |
None |
Mihail Dobrinov |
International Emerging
Markets |
None |
Arild Holm |
LargeCap Value |
$100,001 -
$500,000 |
Thomas L.
Kruchten |
LargeCap S&P 500
Index |
None |
Thomas L.
Kruchten |
MidCap S&P 400
Index |
None |
Thomas L.
Kruchten |
SmallCap S&P 600
Index |
None |
K. William
Nolin |
MidCap |
$500,001 -
$1,000,000 |
Phil Nordhus |
SmallCap Blend |
None |
Brian Pattinson |
SmallCap Blend |
None |
Tom Rozycki |
MidCap |
None |
Jeffrey A.
Schwarte |
LargeCap Value |
None |
Mohammed Zaidi |
International Emerging
Markets |
None |
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||||
William C.
Armstrong: Bond
& Mortgage Securities Fund |
||||||||
Registered investment
companies |
2 |
$387.3 million |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
7 |
$5.6 billion |
|
0 |
|
$0 |
| |
Other accounts |
17 |
$4.3 million |
|
3 |
$803.2 million |
| ||
Mark P.
Denkinger: High
Yield Fund |
||||||||
Registered investment
companies |
0 |
0 |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
3 |
$65.5 million |
|
0 |
|
$0 |
| |
Other accounts |
4 |
$403.6 million |
|
2 |
$234.5 million |
| ||
Douglas J.
Gaylor: California Municipal and
Tax-Exempt Bond Funds |
||||||||
Registered investment
companies |
1 |
$21.6 million |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other accounts |
1 |
$32.4 million |
|
0 |
|
$0 |
| |
James
Noble: California Municipal and
Tax-Exempt Bond Funds |
||||||||
Registered investment
companies |
1 |
$21.6 million |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
0 |
0 |
|
0 |
|
$0 |
| |
Other accounts |
1 |
$32.4 million |
|
0 |
|
$0 |
| |
Tracy Reeg:
Money Market
Fund |
||||||||
Registered investment
companies |
1 |
$278.8 million |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
1 |
$2.0 billion |
|
0 |
|
$0 |
| |
Other accounts |
0 |
|
$0 |
|
0 |
|
$0 |
|
Alice
Robertson: Money
Market Fund |
||||||||
Registered investment
companies |
1 |
$278.8 million |
|
0 |
|
$0 |
| |
Other pooled investment
vehicles |
1 |
$2.0 billion |
|
0 |
|
$0 |
| |
Other accounts |
0 |
|
$0 |
|
0 |
|
$0 |
|
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
Darrin E.
Smith: High Yield
Fund |
||||||
Registered investment
companies |
0 |
$0 |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$65.5 million |
0 |
|
$0 |
|
Other accounts |
4 |
$403.6 million |
2 |
$234.5 million |
| |
Timothy R.
Warrick: Bond
& Mortgage Securities Fund |
||||||
Registered investment
companies |
1 |
$320.6 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
7 |
$5.8 billion |
0 |
|
$0 |
|
Other accounts |
20 |
$6.6 billion |
2 |
$803.2 million |
|
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
William C.
Armstrong |
Bond & Mortgage
Securities |
None |
Mark P.
Denkinger |
High Yield |
$100,001 -
$500,000 |
Douglas J.
Gaylor |
California
Municipal |
None |
Douglas J.
Gaylor |
Tax-Exempt Bond |
None |
James Noble |
California
Municipal |
None |
James Noble |
Tax-Exempt Bond |
None |
Tracy Reeg |
Money Market |
$1 - $10,000 |
Alice Robertson |
Money Market |
None |
Darrin E. Smith |
High Yield |
$100,001 -
$500,000 |
Timothy R.
Warrick |
Bond & Mortgage
Securities |
None |
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
Mathew
Annenberg:
Principal LifeTime
2010, 2015, 2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060 and
Strategic Income Funds |
||||||
Registered investment
companies |
6 |
$466.9 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
6 |
$739.6 million |
0 |
|
$0 |
|
Other accounts |
1 |
$153.0 million |
0 |
|
$0 |
|
Dirk
Laschanzky: Principal LifeTime 2010, 2015,
2020, 2025, 2030, 2035, 2040, 2045, 2050, 2055, 2060 and Strategic Income
Funds |
||||||
Registered investment
companies |
0 |
$517.4 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
0 |
$739.6 million |
0 |
|
$0 |
|
Other accounts |
0 |
$153.0 million |
0 |
|
$0 |
|
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Mathew
Annenberg |
Principal LifeTime
2010 |
None |
Mathew
Annenberg |
Principal LifeTime
2015 |
None |
Mathew
Annenberg |
Principal LifeTime
2020 |
None |
Mathew
Annenberg |
Principal LifeTime
2025 |
None |
Mathew
Annenberg |
Principal LifeTime
2030 |
None |
Mathew
Annenberg |
Principal LifeTime
2035 |
None |
Mathew
Annenberg |
Principal LifeTime
2040 |
None |
Mathew
Annenberg |
Principal LifeTime
2045 |
None |
Mathew
Annenberg |
Principal LifeTime
2050 |
None |
Mathew
Annenberg |
Principal LifeTime
2055 |
None |
Mathew
Annenberg |
Principal LifeTime
2060 |
None |
Mathew
Annenberg |
Principal LifeTime Strategic
Income |
None |
Dirk Laschanzky |
Principal LifeTime
2010 |
None |
Dirk Laschanzky |
Principal LifeTime
2015 |
None |
Dirk Laschanzky |
Principal LifeTime
2020 |
None |
Dirk Laschanzky |
Principal LifeTime
2025 |
None |
Dirk Laschanzky |
Principal LifeTime
2030 |
None |
Dirk Laschanzky |
Principal LifeTime
2035 |
None |
Dirk Laschanzky |
Principal LifeTime
2040 |
None |
Dirk Laschanzky |
Principal LifeTime
2045 |
None |
Dirk Laschanzky |
Principal LifeTime
2050 |
None |
Dirk Laschanzky |
Principal LifeTime
2055 |
None |
Dirk Laschanzky |
Principal LifeTime
2060 |
None |
Dirk Laschanzky |
Principal LifeTime Strategic
Income |
None |
Other
Accounts Managed | ||||||
Total
Number
of
Accounts |
Total
Assets
in
the
Accounts |
Number
of
Accounts
that
base
the
Advisory
Fee
on
Performance |
Total
Assets
of
the
Accounts
that
base
the
Advisory
Fee
on
Performance | |||
Keith
Bokota: Real
Estate Securities Fund |
||||||
Registered investment
companies |
1 |
$137.8 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
1 |
$15.6 million |
0 |
|
$0 |
|
Other accounts |
11 |
$316.1 million |
0 |
|
$0 |
|
Simon
Hedger: Global
Real Estate Securities Fund |
||||||
Registered investment
companies |
2 |
$392.7 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
2 |
$316.9 million |
0 |
|
$0 |
|
Other accounts |
8 |
$680.4 million |
1 |
$15.6 million |
| |
Anthony
Kenkel: Global Real Estate Securities Fund and
Real Estate Securities Fund |
||||||
Registered investment
companies |
4 |
$538.6 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$332.5 million |
0 |
|
$0 |
|
Other accounts |
22 |
$1.3 billion |
1 |
$15.6 million |
| |
Kelly D.
Rush: Global
Real Estate Securities, and Real Estate Securities Funds |
||||||
Registered investment
companies |
3 |
$530.5 million |
0 |
|
$0 |
|
Other pooled investment
vehicles |
3 |
$332.5 million |
0 |
|
$0 |
|
Other accounts |
20 |
$1.2 billion |
1 |
$15.6 million |
|
Portfolio
Manager |
PFI Funds
Managed by Portfolio Manager |
Dollar Range
of Securities Owned by the Portfolio Manager |
Keith Bokota |
Real Estate Securities
|
None |
Simon Hedger |
Global Real Estate
Securities |
None |
Anthony Kenkel |
Global Real Estate
Securities |
$10,001 -
$50,000 |
Anthony Kenkel |
Real Estate
Securities |
None |
Kelly D. Rush |
Global Real Estate
Securities |
None |
Kelly D. Rush |
Real Estate
Securities |
$10,001 -
$50,000 |
Aaa: |
Obligations rated Aaa are
judged to be of the highest quality, with minimal credit risk.
|
Aa: |
Obligations rated Aa are
judged to be of high quality and are subject to very low credit risk.
|
A: |
Obligations rated A are
considered upper-medium grade and are subject to low credit risk.
|
Baa: |
Obligations rated Baa are
subject to moderate credit risk. They are considered medium-grade and as
such may possess certain speculative characteristics.
|
Ba: |
Obligations rated Ba are
judged to have speculative elements and are subject to substantial credit
risk. |
B: |
Obligations rated B are
considered speculative and are subject to high credit risk.
|
Caa: |
Obligations rated Caa are
judged to be of poor standing and are subject to very high credit risk.
|
Ca: |
Obligations rated Ca are
highly speculative and are likely in, or very near, default, with some
prospect of recovery of principal and interest.
|
C: |
Obligations rated C are the
lowest rated class of bonds and are typically in default, with little
prospect for recovery of principal or interest.
|
l. |
Likelihood of default -
capacity and willingness of the obligor as to the timely payment of
interest and repayment of principal in accordance with the terms of the
obligation; |
II. |
Nature of and provisions of
the obligation; |
III. |
Protection afforded by, and
relative position of, the obligation in the event of bankruptcy,
reorganization, or other arrangement under the laws of bankruptcy and
other laws affecting creditor's rights. |
AAA: |
Debt rated "AAA" has the
highest rating assigned by Standard & Poor's. Capacity to pay interest
and repay principal is extremely strong. |
AA: |
Debt rated "AA" has a very
strong capacity to pay interest and repay principal and differs from the
highest-rated issues only in small degree.
|
A: |
Debt rated "A" has a strong
capacity to pay interest and repay principal although they are somewhat
more susceptible to the adverse effects of changes in circumstances and
economic conditions than debt in higher-rated categories.
|
BBB: |
Debt rated "BBB" is regarded
as having an adequate capacity to pay interest and repay principal.
Whereas it normally exhibits adequate protection parameters, adverse
economic conditions or changing circumstances are more likely to lead to a
weakened capacity to pay interest and repay principal for debt in this
category than for debt in higher-rated categories.
|
BB, B, CCC, CC:
|
Debt rated "BB," "B," "CCC,"
and "CC" is regarded, on balance, as predominantly speculative with
respect to capacity to pay interest and repay principal in accordance with
the terms of the obligation. "BB" indicates the lowest degree of
speculation and "CC" the highest degree of speculation. While such debt
will likely have some quality and protective characteristics, these are
outweighed by large uncertainties or major risk exposures to adverse
conditions. |
C: |
The rating "C" is reserved for
income bonds on which no interest is being paid.
|
D: |
Debt rated "D" is in default,
and payment of interest and/or repayment of principal is in arrears.
|
NR: |
Indicates that no rating has
been requested, that there is insufficient information on which to base a
rating or that Standard & Poor's does not rate a particular type of
obligation as a matter of policy. |
A: |
Issues assigned the highest
rating are regarded as having the greatest capacity for timely payment.
Issues in this category are delineated with the numbers 1, 2, and 3 to
indicate the relative degree of safety. |
A-1: |
This designation indicates
that the degree of safety regarding timely payment is either overwhelming
or very strong. Issues that possess overwhelming safety characteristics
will be given a "+" designation. |
A-2: |
Capacity for timely payment on
issues with this designation is strong. However, the relative degree of
safety is not as high as for issues designated "A-1."
|
A-3: |
Issues carrying this
designation have a satisfactory capacity for timely payment. They are,
however, somewhat more vulnerable to the adverse effects of changes in
circumstances than obligations carrying the highest designations.
|
B: |
Issues rated "B" are regarded
as having only an adequate capacity for timely payment. However, such
capacity may be damaged by changing conditions or short-term adversities.
|
C: |
This rating is assigned to
short-term debt obligations with a doubtful capacity for payment.
|
D: |
This rating indicates that the
issue is either in default or is expected to be in default upon maturity.
|
SP-1: |
A very strong, or strong,
capacity to pay principal and interest. Issues that possess overwhelming
safety characteristics will be given a "+" designation.
|
SP-2: |
A satisfactory capacity to pay
principal and interest. |
SP-3: |
A speculative capacity to pay
principal and interest. |
AAA: |
Highest credit quality. ‘AAA’
ratings denote the lowest expectation of credit risk. They are assigned
only in case of exceptionally strong capacity for payment of financial
commitments. This capacity is highly unlikely to be adversely affected by
foreseeable events. |
AA: |
Very high credit quality. “AA”
ratings denote expectations of very low credit risk. They indicate very
strong capacity for timely payment of financial commitments. This capacity
is not significantly vulnerable to foreseeable
events. |
A: |
High credit quality. “A”
ratings denote low expectation of credit risk. The capacity for timely
payment of financial commitments is considered strong. This capacity may,
nevertheless, be more vulnerable to adverse business or economic
conditions than is the case for higher
ratings. |
BBB: |
Good credit quality. “BBB”
ratings indicate that expectations of credit risk are currently low. The
capacity for payment of financial commitments is considered adequate, but
adverse business or economic conditions are more likely to impair this
capacity. |
BB: |
Speculative. ‘BB’ ratings
indicate an elevated vulnerability to credit risk, particularly in the
event of adverse changes in business or economic conditions over time;
however, business or financial alternatives may be available to allow
financial commitments to be met. |
B: |
Highly speculative. ‘B’
ratings indicate that material credit risk is
present. |
CCC: |
Substantial credit risk. ‘CCC’
ratings indicate that substantial credit risk is
present. |
CC: |
Very high levels of credit
risk. ‘CC’ ratings indicate very high levels of credit
risk. |
C: |
Exceptionally high levels of
credit risk. ‘C’ indicates exceptionally high levels of credit
risk. |
RR1: |
Outstanding recovery prospects
given default. ‘RR1’ rated securities have characteristics consistent with
securities historically recovering 91%-100% of current principal and
related interest. |
RR2: |
Superior recovery prospects
given default. ‘RR2’ rated securities have characteristics consistent with
securities historically recovering 71%-90% of current principal and
related interest. |
RR3: |
Good recovery prospects given
default. ‘RR3’ rated securities have characteristics consistent with
securities historically recovering 51%-70% of current principal and
related interest. |
RR4: |
Average recovery prospects
given default. ‘RR4’ rated securities have characteristics consistent with
securities historically recovering 31%-50% of current principal and
related interest. |
RR5: |
Below average recovery
prospects given default. ‘RR5’ rated securities have characteristics
consistent with securities historically recovering 11%-30% of current
principal and related interest. |
RR6: |
Poor recovery prospects given
default. ‘RR6’ rated securities have characteristics consistent with
securities historically recovering 0%-10% of current principal and related
interest. |
F1: |
Highest short-term credit
quality. Indicates the strongest intrinsic capacity for timely payment of
financial commitments; may have an added “+” to denote any exceptionally
strong credit feature. |
F2: |
Good short-term credit
quality. Good intrinsic capacity for timely payment of financial
commitments. |
F3: |
Fair short-term credit
quality. The intrinsic capacity for timely payment of financial
commitments is adequate. |
B: |
Speculative short-term credit
quality. Minimal capacity for timely payment of financial commitments,
plus heightened vulnerability to near term adverse changes in financial
and economic conditions. |
C: |
High short-term default risk.
Default is a real possibility. |
RD: |
Restricted default. Indicates
an entity that has defaulted on one or more of its financial commitments,
although it continues to meet other financial obligations. Applicable to
entity ratings only. |
D: |
Default. Indicates a
broad-based default event for an entity, or the default of a specific
short-term obligation. |
• |
distributions of
income |
• |
appointment of
auditors |
• |
director compensation,
unless deemed excessive |
• |
boards of directors –
Causeway generally votes for management’s slate of director nominees.
However, it votes against incumbent nominees with poor attendance records,
or who have otherwise acted in a manner Causeway believes is not in the
best interests of shareholders. |
• |
Causeway generally opposes
cumulative voting and attempts to classify boards of
directors. |
• |
financial results/director
and auditor reports |
• |
share repurchase
plans |
• |
changing corporate names and
other similar matters |
• |
amendments to articles of
association or other governing documents |
• |
changes in board or
corporate governance structure |
• |
changes in authorized
capital including proposals to issue
shares |
• |
compensation – Causeway
believes that it is important that a company’s equity-based compensation
plans, including stock option or restricted stock plans, are aligned with
the interests of shareholders, including Causeway’s clients. Causeway
evaluates compensation plans on a case-by-case basis. Causeway generally
opposes packages that it believes provide excessive awards or create
excessive shareholder dilution. Causeway generally opposes proposals to
reprice options because the underlying stock has fallen in
value. |
• |
debt issuance
requests |
• |
mergers, acquisitions and
other corporate reorganizations or
restructurings |
• |
changes in state or country
of incorporation |
• |
related party
transactions |
• |
anti-takeover mechanisms –
Causeway generally opposes anti-takeover mechanisms including poison
pills, unequal voting rights plans, staggered boards, provisions requiring
supermajority approval of a merger and other matters that are designed to
limit the ability of shareholders to approve merger
transactions. |
• |
social issues – Causeway
believes that it is management’s responsibility to handle such issues, and
generally votes with management on these types of issues, or abstains.
Causeway will oppose social proposals that it believes will be a detriment
to the investment performance of a portfolio
company. |
• |
If a “for” or “against” or
“with management” guideline applies to the proposal, Causeway will vote in
accordance with that guideline. |
• |
If a “for” or “against” or
“with management” guideline does not apply to the proposal, Causeway will
follow the recommendation of an independent third party such as
ISS. |
1. |
Introduction |
2. |
Proxy
Policies |
2.1. |
Corporate
Governance |
2.2. |
Elections of
Directors |
2.3. |
Appointment of
Auditors |
2.4. |
Changes in Legal
and
Capital
Structure |
2.5. |
Corporate Restructurings,
Mergers and Acquisitions |
2.6. |
Proposals Affecting
Shareholder Rights |
2.7. |
Anti-Takeover
Measures |
2.8. |
Executive
Compensation |
2.9. |
ESG |
3. |
Proxy
Voting Procedures |
3.1. |
Proxy Voting
Committees |
3.2. |
Engagement |
3.3. |
Conflicts of
Interest |
3.4. |
Proxies of Certain Non-U.S.
Issuers |
3.5. |
Loaned
Securities |
3.6. |
Proxy Voting
Records |
1. |
Introduction
|
2. |
Approach
to ESG |
3. |
Commitment
to the PRI |
5. |
We will work together to
enhance our effectiveness in implementing the
Principles. |
4. |
RI
Committee |
1. |
Spot check to verify that
proxies received have been voted in a manner consistent with the Proxy
Voting Policies and Procedures and the guidelines (if any) issued by the
client, or in the case of an employee benefit plan, the plan’s trustee or
other fiduciaries; |
2. |
Provide a proxy voting
report to those clients that request it; in a manner consistent with the
client’s request, which may vary. |
1. |
Routine
Matters |
a. |
Election
of Directors |
(1) |
Generally.
The Advisor
will generally support the election of directors that result in a board
made up of a majority of independent directors. In general, the Advisor
will vote in favor of management's director nominees if they are running
unopposed. The Advisor believes that management is in the best possible
position to evaluate the qualifications of directors and the needs and
dynamics of a particular board. The Advisor of course maintains the
ability to vote against any candidate whom it feels is not qualified or if
there are specific concerns about the individual, such as allegations of
criminal wrongdoing or breach of fiduciary responsibilities. Additional
information the Advisor may consider concerning director nominees include,
but is not limited to, whether (1) there is an adequate explanation for
repeated absences at board meetings, (2) the nominee receives non-board
fee compensation, or (3) there is a family relationship between the
nominee and the company’s chief executive officer or controlling
shareholder. When management's nominees are opposed in a proxy contest,
the Advisor will evaluate which nominees' publicly-announced management
policies and goals are most likely to maximize shareholder value, as well
as the past performance of the incumbents.
|
(2) |
Committee
Service. The
Advisor will withhold votes for non-independent directors who serve on the
audit, compensation, and/or nominating committees of the board.
|
(3) |
Classification
of Boards. The
Advisor will support proposals that seek to declassify boards. Conversely,
the Advisor will oppose efforts to adopt classified board
structures. |
(4) |
Majority
Independent Board. The Advisor will support
proposals calling for a majority of independent directors on a board. The
Advisor believes that a majority of independent directors can help to
facilitate objective decision making and enhances accountability to
shareholders. |
(5) |
Majority
Vote Standard for Director Elections.
The Advisor
will vote in favor of proposals calling for directors to be elected by an
affirmative majority of the votes cast in a board election, provided that
the proposal allows for a plurality voting standard in the case of
contested elections. The Advisor may consider voting against such
shareholder proposals where a company’s board has adopted an alternative
measure, such as a director resignation policy, that provides a meaningful
alternative to the majority voting standard and appropriately addresses
situations where an incumbent director fails to receive the support of the
majority of the votes cast in an uncontested
election. |
(6) |
Withholding
Campaigns. The
Advisor will support proposals calling for shareholders to withhold votes
for directors where such actions will advance the principles set forth in
paragraphs (1) through (5) above. |
b. |
Ratification
of Selection of Auditors |
2. |
Compensation
Matters |
a. |
Executive
Compensation |
(1) |
Advisory
Vote on Compensation. The Advisor believes there
are more effective ways to convey concerns about compensation than through
an advisory vote on compensation (such as voting against specific
excessive incentive plans or withholding votes from compensation committee
members). The Advisor will consider and vote on a case-by-case basis on
say-on-pay proposals and will generally support management proposals
unless specific concerns exist, including if the Advisor concludes that
executive compensation is (i) misaligned with shareholder interests, (ii)
unreasonable in amount, or (iii) not in the aggregate meaningfully tied to
the company’s performance. |
(2) |
Frequency
of Advisory Votes on Compensation. The Advisor generally
supports the triennial option for the frequency of say-on-pay proposals,
but will consider management recommendations for an alternative
approach. |
b. |
Equity Based Compensation
Plans |
• |
Provide for immediate
vesting of all stock options in the event of a change of control of the
company without reasonable safeguards against abuse (see "Anti-Takeover
Proposals" below); |
• |
Reset outstanding stock
options at a lower strike price unless accompanied by a corresponding and
proportionate reduction in the number of shares designated. The Advisor
will generally oppose adoption of stock option plans that explicitly or
historically permit repricing of stock options, regardless of the number
of shares reserved for issuance, since their effect is impossible to
evaluate; |
• |
Establish restriction
periods shorter than three years for restricted stock
grants; |
• |
Do not reasonably associate
awards to performance of the company; or |
• |
Are excessively dilutive to
the company. |
3. |
Anti-Takeover
Proposals |
a. |
Cumulative
Voting |
b. |
Staggered
Board |
c. |
"Blank
Check" Preferred Stock |
d. |
Elimination
of Preemptive Rights |
e. |
Non-targeted
Share Repurchase |
f. |
Increase
in Authorized Common Stock |
g. |
"Supermajority"
Voting Provisions or Super Voting Share
Classes |
h. |
"Fair
Price" Amendments |
i. |
Limiting
the Right to Call Special Shareholder
Meetings. |
j. |
Poison
Pills or Shareholder Rights Plans |
k. |
Golden
Parachutes |
l. |
Reincorporation |
m. |
Confidential
Voting |
n. |
Opting In
or Out of State Takeover Laws |
4. |
Transaction
Related Proposals |
5. |
Other
Matters |
a. |
Shareholder
Proposals Involving Social, Moral or Ethical
Matters |
b. |
Anti-Greenmail
Proposals |
c. |
Indemnification |
d. |
Non-Stock
Incentive Plans |
e. |
Director
Tenure |
f. |
Directors’
Stock Options Plans |
g. |
Director
Share Ownership |
h. |
Non-U.S.
Proxies |
• |
Edge believes it is in the
best interest of its clients to delegate the proxy voting responsibility
to expert third-party proxy voting organization, Institutional Shareholder
Services, Inc. (“ISS”). ISS provides policy guidelines and proxy research
and analysis in addition to proxy voting. Edge may override any ISS
guideline or recommendation that Edge feels is not in the best interest of
the client. |
• |
Edge has elected to follow
the ISS Standard Proxy Voting Guidelines (the “ Guidelines”), which embody
the positions and factors that Edge generally considers important in
casting proxy votes, including, but not limited to, shareholder voting
rights, anti-takeover defenses, board structures, election of directors,
executive and director compensation, reorganizations, mergers and various
shareholder proposals. |
2. |
Conflicts of
Interest |
• |
Votes cast by ISS on Edge’s
behalf consistent with its Guidelines and recommendations are not
considered to create a conflict of interest. If ISS or Edge abstains from
voting a proxy due to a conflict, or if Edge elects to override an ISS
recommendation, it will seek to identify and evaluate whether any
conflicts of interest may exist between the issuer and Edge or its
employees and clients. |
• |
Material conflicts will be
evaluated, and if it’s determined that one exists, Edge will disclose the
conflict to the affected client, and request instruction from the client
as to how the proxy should be voted. |
3. |
New
Accounts |
• |
Edge or its affiliate,
Principal Global Investors, shall provide a proxy authorization letter to
the client’s custodian upon the opening of a new client account. Clients
may also choose to vote proxies themselves or receive individualized
reports or services. |
• |
Edge may refrain from voting
when it believes it is in the client’s best
interests. |
• |
Edge will not reveal or
disclose to any third-party how it may have voted or intends to vote until
such proxies have been counted at a shareholders’ meeting. Edge may in any
event disclose its general policy to follow ISS’s guidelines. No employee
of Edge may accept any remuneration in the solicitation of
proxies. |
• |
Edge will document errors
and the resolution of errors. |
• |
Documentation shall be
maintained for at least five years. Edge will keep records regarding all
client requests to review proxy votes and accompanying responses. Edge may
rely on proxy statements filed on the SEC’s EDGAR system instead of
keeping its own copies. |
• |
Edge’s proxy voting record
will be maintained by ISS. Edge will maintain documentation to support any
decisions to vote against ISS Guidelines or
recommendations. |
• |
Edge generally does not file
class action claims on behalf of its clients and specifically will not act
on behalf of former clients that have terminated their relationship with
Edge. Edge will only file permitted class action claims if that
responsibility in specifically stated in the advisory contract. Edge will
maintain documentation related to any cost-benefit analysis to support
decisions to opt out of any class action settlement. This policy is
disclosed in the firm’s Form ADV filing. |
• |
Non-audit (“other”) fees
> audit fees + audit-related fees + tax compliance/preparation
fees. |
1. |
Board
Accountability |
2. |
Board
Responsiveness |
3. |
Director
Independence |
4. |
Director
Competence |
1. |
Board
Accountability |
1.1. |
The board is classified, and
a continuing director responsible for a problematic governance issue at
the board/committee level that would warrant a withhold/against vote
recommendation is not up for election. All appropriate nominees (except
new) may be held accountable. |
1.2. |
The board lacks
accountability and oversight, coupled with sustained poor performance
relative to peers. Sustained poor performance is measured by one- and
three-year total shareholder returns in the bottom half of a company’s
four-digit GICS industry group (Russell 3000 companies only). Take into
consideration the company’s five-year total shareholder return and
operational metrics. Problematic provisions include but are not limited
to: |
• |
A classified board
structure; |
• |
A supermajority vote
requirement; |
• |
Either a plurality vote
standard in uncontested director elections or a majority vote standard
with no plurality carve-out for contested
elections; |
• |
The inability of
shareholders to call special meetings; |
• |
The inability of
shareholders to act by written consent; |
• |
A dual-class capital
structure; and/or |
• |
A non–shareholder-approved
poison pill. |
1.3. |
The company’s poison pill
has a “dead-hand” or “modified dead-hand” feature. Vote AGAINST or
WITHHOLD from nominees every year until this feature is
removed; |
1.4. |
The board adopts a poison
pill with a term of more than 12 months (“long-term pill”), or renews any
existing pill, including any “short-term” pill (12 months or less),
without shareholder approval. A commitment or policy that puts a newly
adopted pill to a binding shareholder vote may potentially offset an
adverse vote recommendation. Review such companies with classified boards
every year, and such companies with annually elected boards at least once
every three years, and vote AGAINST or WITHHOLD votes from all nominees if
the company still maintains a non-shareholder-approved poison pill;
or |
1.5. |
The board makes a material
adverse change to an existing poison pill without shareholder approval.
|
1.6. |
The board adopts a poison
pill with a term of 12 months or less (“short-term pill”) without
shareholder approval, taking into account the following factors:
|
• |
The date of the pill‘s
adoption relative to the date of the next meeting of
shareholders—i.e. whether the company had
time to put the pill on ballot for shareholder ratification given the
circumstances; |
• |
The issuer’s rationale;
|
• |
The issuer’s governance
structure and practices; and |
• |
The issuer’s track record of
accountability to shareholders. |
1.7. |
The non-audit fees paid to
the auditor are excessive (see discussion under “Auditor
Ratification”); |
1.8. |
The company receives an
adverse opinion on the company’s financial statements from its auditor; or
|
1.9. |
There is persuasive evidence
that the Audit Committee entered into an inappropriate indemnification
agreement with its auditor that limits the ability of the company, or its
shareholders, to pursue legitimate legal recourse against the audit
firm. |
1.10. |
Poor accounting practices
are identified that rise to a level of serious concern, such as: fraud;
misapplication of GAAP; and material weaknesses identified in Section 404
disclosures. Examine the severity, breadth, chronological sequence and
duration, as well as the company’s efforts at remediation or corrective
actions, in determining whether WITHHOLD/AGAINST votes are
warranted. |
1.11. |
There is a significant
misalignment between CEO pay and company performance (pay
for performance); |
1.12. |
The company maintains
significant problematic
pay practices; |
1.13. |
The board exhibits a
significant level of poor
communication and responsiveness
to
shareholders; |
1.14. |
The company fails to submit
one-time transfers
of stock options
to a
shareholder vote; or |
1.15. |
The company fails to fulfill
the terms of a burn
rate commitment made to shareholders.
|
1.16. |
The company's previous
say-on-pay proposal received the support of less than 70 percent of votes
cast, taking into account: |
• |
The company's response,
including: |
◦ |
Disclosure of engagement
efforts with major institutional investors regarding the issues that
contributed to the low level of support; |
◦ |
Specific actions taken to
address the issues that contributed to the low level of support;
|
◦ |
Other recent compensation
actions taken by the company; |
• |
Whether the issues raised
are recurring or isolated; |
• |
The company's ownership
structure; and |
• |
Whether the support level
was less than 50 percent, which would warrant the highest degree of
responsiveness. |
1.17. |
Material failures of
governance, stewardship, risk oversight4, or fiduciary
responsibilities at the company; |
1.18. |
Failure to replace
management as appropriate; or |
1.19. |
Egregious actions related to
a director’s service on other boards that raise substantial doubt about
his or her ability to effectively oversee management and serve the best
interests of shareholders at any company. |
1. |
Board
Responsiveness |
2.1. |
For 2013, the board failed
to act5 on a shareholder proposal
that received the support of a majority of the shares outstanding the
previous year; |
2.2. |
For 2013, the board failed
to act on a shareholder proposal that received the support of a majority
of shares cast in the last year and one of the two previous
years; |
2.3. |
For 2014, the board failed
to act on a shareholder proposal that received the support of a majority
of the shares cast in the previous year; |
2.4. |
The board failed to act on
takeover offers where the majority of shares are tendered;
|
2.5. |
At the previous board
election, any director received more than 50 percent withhold/against
votes of the shares cast and the company has failed to address the
issue(s) that caused the high withhold/against vote;
or |
2.6. |
The board implements an
advisory vote on executive compensation on a less frequent basis than the
frequency that received the majority of votes cast at the most recent
shareholder meeting at which shareholders voted on the say-on-pay
frequency. |
2.7. |
The board implements an
advisory vote on executive compensation on a less frequent basis than the
frequency that received a plurality, but not a majority, of the votes cast
at the most recent shareholder meeting at which shareholders voted on the
say-on-pay frequency, taking into
account: |
• |
The board's rationale for
selecting a frequency that is different from the frequency that received a
plurality; |
• |
The company's ownership
structure and vote results; |
• |
ISS' analysis of whether
there are compensation concerns or a history of problematic compensation
practices; and |
• |
The previous year's support
level on the company's say-on-pay
proposal. |
• |
The
subject matter of the proposal; |
• |
The level
of support and opposition provided to the resolution in past
meetings; |
• |
Disclosed
outreach efforts by the board to shareholders in the wake of the
vote; |
• |
Actions
taken by the board in response to its engagement with
shareholders; |
• |
The
continuation of the underlying issue as a voting item on the ballot (as
either shareholder or management proposals);
and |
• |
Other
factors as appropriate. |
• |
ISS' analysis of whether
there are compensation concerns or a history of problematic compensation
practices; and |
• |
The previous year's support
level on the company's say-on-pay
proposal. |
1. |
Director
Independence |
3.1. |
The inside or affiliated
outside director serves on any of the three key committees: audit,
compensation, or nominating; |
3.2. |
The company lacks an audit,
compensation, or nominating committee so that the full board functions as
that committee; |
3.3. |
The company lacks a formal
nominating committee, even if the board attests that the independent
directors fulfill the functions of such a committee; or
|
3.4. |
Independent directors make
up less than a majority of the directors. |
2. |
Director
Competence |
4.1. |
Generally vote AGAINST or
WITHHOLD from directors (except new nominees, who should be considered
CASE-BY-CASE6) who attend less than 75
percent of the aggregate of their board and committee meetings for the
period for which they served, unless an acceptable reason for absences is
disclosed in the proxy or another SEC filing. Acceptable reasons for
director absences are generally limited to the
following: |
◦ |
Medical
issues/illness; |
◦ |
Family emergencies;
and |
◦ |
Missing only one meeting
(when the total of all meetings is three or
fewer). |
4.2. |
If the proxy disclosure is
unclear and insufficient to determine whether a director attended at least
75 percent of the aggregate of his/her board and committee meetings during
his/her period of service, vote AGAINST or WITHHOLD from the director(s)
in question. |
4.3. |
Sit on more than six public
company boards7;
or |
4.4. |
Are CEOs of public companies
who sit on the boards of more than two public companies besides their
own—withhold only at their outside boards8. |
◦ |
The ownership thresholds
proposed in the resolution (i.e., percentage and
duration); |
◦ |
The maximum proportion of
directors that shareholders may nominate each year;
and |
◦ |
The method of determining
which nominations should appear on the ballot if multiple shareholders
submit nominations. |
• |
The ownership threshold to
transfer (NOL pills generally have a trigger slightly below 5 percent);
|
• |
The value of the NOLs;
|
• |
Shareholder protection
mechanisms (sunset provision, or commitment to cause expiration of the
pill upon exhaustion or expiration of NOLs);
|
• |
The company's existing
governance structure including: board independence, existing takeover
defenses, track record of responsiveness to shareholders, and any other
problematic governance concerns; and |
• |
Any other factors that may
be applicable. |
• |
Shareholders' current right
to act by written consent; |
• |
The consent threshold;
|
• |
The inclusion of
exclusionary or prohibitive language; |
• |
Investor ownership
structure; and |
• |
Shareholder support of, and
management's response to, previous shareholder
proposals. |
• |
An unfettered12 right for shareholders to
call special meetings at a 10 percent
threshold; |
• |
A majority vote standard in
uncontested director elections; |
• |
No non-shareholder-approved
pill; and |
• |
An annually elected board.
|
• |
Past Board
Performance: |
◦ |
The company's use of
authorized shares during the last three
years |
• |
The Current
Request: |
◦ |
Disclosure in the proxy
statement of the specific purposes of the proposed
increase; |
◦ |
Disclosure in the proxy
statement of specific and severe risks to shareholders of not approving
the request; and |
◦ |
The dilutive impact of the
request as determined by an allowable increase calculated by ISS
(typically 100 percent of existing authorized shares) that reflects the
company's need for shares and total shareholder
returns. |
◦ |
The company's auditor has
concluded that there is substantial doubt about the company's ability to
continue as a going concern; or |
◦ |
The new class of shares will
be transitory; |
• |
Past Board
Performance: |
◦ |
The company's use of
authorized preferred shares during the last three
years; |
• |
The Current
Request: |
◦ |
Disclosure in the proxy
statement of the specific purposes for the proposed
increase; |
◦ |
Disclosure in the proxy
statement of specific and severe risks to shareholders of not approving
the request; |
◦ |
In cases where the company
has existing authorized preferred stock, the dilutive impact of the
request as determined by an allowable increase calculated by ISS
(typically 100 percent of existing authorized shares) that reflects the
company's need for shares and total shareholder returns;
and |
◦ |
Whether the shares requested
are blank check preferred shares that can be used for antitakeover
purposes. |
• |
Valuation - Is the value to be
received by the target shareholders (or paid by the acquirer) reasonable?
While the fairness opinion may provide an initial starting point for
assessing valuation reasonableness, emphasis is placed on the offer
premium, market reaction and strategic rationale.
|
• |
Market
reaction - How
has the market responded to the proposed deal? A negative market reaction
should cause closer scrutiny of a deal. |
• |
Strategic
rationale -
Does the deal make sense strategically? From where is the value derived?
Cost and revenue synergies should not be overly aggressive or optimistic,
but reasonably achievable. Management should also have a favorable track
record of successful integration of historical acquisitions.
|
• |
Negotiations
and process -
Were the terms of the transaction negotiated at arm's-length? Was the
process fair and equitable? A fair process helps to ensure the best price
for shareholders. Significant negotiation "wins" can also signify the deal
makers' competency. The comprehensiveness of the sales process
(e.g., full auction, partial
auction, no auction) can also affect shareholder value.
|
• |
Conflicts
of interest -
Are insiders benefiting from the transaction disproportionately and
inappropriately as compared to non-insider shareholders? As the result of
potential conflicts, the directors and officers of the company may be more
likely to vote to approve a merger than if they did not hold these
interests. Consider whether these interests may have influenced these
directors and officers to support or recommend the merger. The CIC figure
presented in the "ISS Transaction Summary" section of this report is an
aggregate figure that can in certain cases be a misleading indicator of
the true value transfer from shareholders to insiders. Where such figure
appears to be excessive, analyze the underlying assumptions to determine
whether a potential conflict exists. |
• |
Governance - Will the combined company
have a better or worse governance profile than the current governance
profiles of the respective parties to the transaction? If the governance
profile is to change for the worse, the burden is on the company to prove
that other issues (such as valuation) outweigh any deterioration in
governance. |
1. |
Maintain appropriate
pay-for-performance alignment, with emphasis on long-term shareholder
value: This principle encompasses overall executive pay practices, which
must be designed to attract, retain, and appropriately motivate the key
employees who drive shareholder value creation over the long term. It will
take into consideration, among other factors, the link between pay and
performance; the mix between fixed and variable pay; performance goals;
and equity-based plan costs; |
2. |
Avoid arrangements that risk
“pay for failure”: This principle addresses the appropriateness of long or
indefinite contracts, excessive severance packages, and guaranteed
compensation; |
3. |
Maintain an independent and
effective compensation committee: This principle promotes oversight of
executive pay programs by directors with appropriate skills, knowledge,
experience, and a sound process for compensation decision-making
(e.g., including access to
independent expertise and advice when
needed); |
4. |
Provide shareholders with
clear, comprehensive compensation disclosures: This principle underscores
the importance of informative and timely disclosures that enable
shareholders to evaluate executive pay practices fully and
fairly; |
5. |
Avoid inappropriate pay to
non-executive directors: This principle recognizes the interests of
shareholders in ensuring that compensation to outside directors does not
compromise their independence and ability to make appropriate judgments in
overseeing managers’ pay and performance. At the market level, it may
incorporate a variety of generally accepted best
practices. |
• |
There is no MSOP on the
ballot, and an AGAINST vote on an MSOP is warranted due to pay for
performance misalignment, problematic pay practices, or the lack of
adequate responsiveness on compensation issues raised previously, or a
combination thereof; |
• |
The board fails to respond
adequately to a previous MSOP proposal that received less than 70 percent
support of votes cast; |
• |
The company has recently
practiced or approved problematic pay practices, including option
repricing or option backdating; or |
• |
The situation is
egregious. |
◦ |
Magnitude of pay
misalignment; |
◦ |
Contribution of
non-performance-based equity grants to overall pay;
and |
◦ |
The proportion of equity
awards granted in the last three fiscal years concentrated at the named
executive officer (NEO) level. |
1. |
Peer Group15
Alignment: |
• |
Repricing or replacing of
underwater stock options/SARS without prior shareholder approval
(including cash buyouts and voluntary surrender of underwater
options); |
• |
Excessive perquisites or tax
gross-ups, including any gross-up related to a secular trust or restricted
stock vesting; |
• |
New or extended agreements
that provide for: |
◦ |
CIC payments exceeding 3
times base salary and average/target/most recent bonus;
|
◦ |
CIC severance payments
without involuntary job loss or substantial diminution of duties ("single"
or "modified single" triggers); |
◦ |
CIC payments with excise tax
gross-ups (including "modified"
gross-ups). |
◦ |
The company's response,
including: |
▪ |
Disclosure of engagement
efforts with major institutional investors regarding the issues that
contributed to the low level of support; |
▪ |
Specific actions taken to
address the issues that contributed to the low level of support;
|
▪ |
Other recent compensation
actions taken by the company; |
◦ |
Whether the issues raised
are recurring or isolated; |
◦ |
The company's ownership
structure; and |
◦ |
Whether the support level
was less than 50 percent, which would warrant the highest degree of
responsiveness. |
• |
Single- or
modified-single-trigger cash severance; |
• |
Single-trigger acceleration
of unvested equity awards; |
• |
Excessive cash severance
(>3x base salary and bonus); |
• |
Excise tax gross-ups
triggered and payable (as opposed to a provision to provide excise tax
gross-ups); |
• |
Excessive golden parachute
payments (on an absolute basis or as a percentage of transaction equity
value); or |
• |
Recent amendments that
incorporate any problematic features (such as those above) or recent
actions (such as extraordinary equity grants) that may make packages so
attractive as to influence merger agreements that may not be in the best
interests of shareholders; or |
• |
The company's assertion that
a proposed transaction is conditioned on shareholder approval of the
golden parachute advisory vote. |
• |
If the issues presented in
the proposal are more appropriately or effectively dealt with through
legislation or government regulation; |
• |
If the company has already
responded in an appropriate and sufficient manner to the issue(s) raised
in the proposal; |
• |
Whether the proposal's
request is unduly burdensome (scope, timeframe, or cost) or overly
prescriptive; |
• |
The company's approach
compared with any industry standard practices for addressing the issue(s)
raised by the proposal; |
• |
If the proposal requests
increased disclosure or greater transparency, whether or not reasonable
and sufficient information is currently available to shareholders from the
company or from other publicly available sources; and
|
• |
If the proposal requests
increased disclosure or greater transparency, whether or not
implementation would reveal proprietary or confidential information that
could place the company at a competitive
disadvantage. |
• |
There are concerns about the
accounts presented or audit procedures used; or
|
• |
The company is not
responsive to shareholder questions about specific items that should be
publicly disclosed. |
• |
There are serious concerns
about the accounts presented or the audit procedures used; |
• |
The auditors are being
changed without explanation; or |
• |
non‐audit-related fees are
substantial or are routinely in excess of standard annual audit-related
fees. |
• |
There are serious concerns
about the statutory reports presented or the audit procedures used;
|
• |
Questions exist concerning
any of the statutory auditors being appointed; or
|
• |
The auditors have previously
served the company in an executive capacity or can otherwise be considered
affiliated with the company. |
• |
The dividend payout ratio
has been consistently below 30 percent without adequate explanation; or
|
• |
The payout is excessive
given the company's financial position. |
• |
Adequate disclosure has not
been provided in a timely manner; |
• |
There are clear concerns
over questionable finances or restatements;
|
• |
There have been questionable
transactions with conflicts of interest; |
• |
There are any records of
abuses against minority shareholder interests; or
|
• |
The board fails to meet
minimum corporate governance standards. |
• |
Material failures of
governance, stewardship, risk oversight, or fiduciary responsibilities at
the company; |
• |
Failure to replace
management as appropriate; or |
• |
Egregious actions related to
a director's service on other boards that raise substantial doubt about
his or her ability to effectively oversee management and serve the best
interests of shareholders at any company.
|
Executive
Director
• Employee or executive of the
company;
• Any director who is
classified as a non-executive, but receives salary, fees, bonus, and/or
other benefits that are in line with the highest-paid executives of the
company.
Non-Independent
Non-Executive Director (NED)
• Any director who is attested
by the board to be a non-independent NED;
• Any director specifically
designated as a representative of a significant shareholder of the
company;
• Any director who is also an
employee or executive of a significant shareholder of the company;
• Beneficial owner (direct or
indirect) of at least 10% of the company's stock, either in economic terms
or in voting rights (this may be aggregated if voting power is distributed
among more than one member of a defined group, e.g., family members who
beneficially own less than 10% individually, but collectively own more
than 10%), unless market best practice dictates a lower ownership and/or
disclosure threshold (and in other special market-specific circumstances);
• Government representative;
• Currently provides (or a
relative[1] provides) professional services[2] to the company, to an
affiliate of the company, or to an individual officer of the company or of
one of its affiliates in excess of $10,000 per year;
• Represents customer,
supplier, creditor, banker, or other entity with which company maintains
transactional/commercial relationship (unless company discloses
information to apply a materiality test[3]);
• Any director who has
conflicting or cross-directorships with executive directors or the
chairman of the company;
• Relative[1] of a current
employee of the company or its affiliates;
• Relative[1] of a former
executive of the company or its affiliates;
• A new appointee elected other
than by a formal process through the General Meeting (such as a
contractual appointment by a substantial shareholder);
• Founder/co-founder/member of
founding family but not currently an employee;
• Former executive (5 year
cooling off period);
• Years of service will NOT be
a determining factor unless it is recommended best practice in a
market:
o 9 years (from the date of
election) in the United Kingdom and Ireland;
o 12 years in European
markets; |
o 7 years in
Russia.
Independent
NED
• No material[4] connection,
either directly or indirectly, to the company other than a board seat.
Employee
Representative
• Represents employees or
employee shareholders of the company (classified as “employee
representative” but considered a non-independent NED).
Footnotes:
[1] “Relative” follows the
SEV’s proposed definition of “immediate family members” which covers
spouses, parents, children, step-parents, step-children, siblings,
in-laws, and any person (other than a tenant or employee) sharing the
household of any director, nominee for director, executive officer, or
significant shareholder of the company.
[2] Professional services can
be characterized as advisory in nature and generally include the
following: investment banking/financial advisory services; commercial
banking (beyond deposit services); investment services; insurance
services; accounting/audit services; consulting services; marketing
services; and legal services. The case of participation in a banking
syndicate by a non-lead bank should be considered a transaction (and hence
subject to the associated materiality test) rather than a professional
relationship.
[3] If the company makes or
receives annual payments exceeding the greater of $200,000 or 5 percent of
the recipient's gross revenues. (The recipient is the party receiving the
financial proceeds from the transaction.)
[4] For purposes of ISS'
director independence classification, “material” will be defined as a
standard of relationship (financial, personal or otherwise) that a
reasonable person might conclude could potentially influence one's
objectivity in the boardroom in a manner that would have a meaningful
impact on an individual's ability to satisfy requisite fiduciary standards
on behalf of shareholders. |
• |
Company performance relative
to its peers; |
• |
Strategy of the incumbents
versus the dissidents; |
• |
Independence of
directors/nominees; |
• |
Experience and skills of
board candidates; |
• |
Governance profile of the
company; |
• |
Evidence of management
entrenchment; |
• |
Responsiveness to
shareholders; |
• |
Whether a takeover offer has
been rebuffed; |
• |
A lack of oversight or
actions by board members which invoke shareholder distrust related to
malfeasance or poor supervision, such as operating in private or company
interest rather than in shareholder
interest |
• |
Any legal issues (e.g.
civil/criminal) aiming to hold the board responsible for breach of trust
in the past or related to currently alleged action yet to be confirmed
(and not only in the fiscal year in question) such as price fixing,
insider trading, bribery, fraud, and other illegal
actions |
• |
Other egregious governance
issues where shareholders will bring legal action against the company or
its directors |
• |
The specific purpose of the
increase (such as a share-based acquisition or merger) does not meet ISS
guidelines for the purpose being proposed; or
|
• |
The increase would leave the
company with less than 30 percent of its new authorization outstanding
after adjusting for all proposed issuances.
|
• |
Maximum Volume: 10 percent
for market repurchase within any single authority and 10 percent of
outstanding shares to be kept in treasury (“on the shelf”); and
|
• |
Duration does not exceed 18
months. |
• |
The repurchase can be used
for takeover defenses; |
• |
There is clear evidence of
abuse; |
• |
There is no safeguard
against selective buybacks; and/or |
• |
Pricing provisions and
safeguards are deemed to be unreasonable in light of market practice.
|
• |
The overall balance of the
proposed plan seems to be clearly in shareholders’
interests; |
• |
The plan still respects the
10 percent maximum of shares to be kept in
treasury. |
• |
Valuation - Is the value to
be received by the target shareholders (or paid by the acquirer)
reasonable? While the fairness opinion may provide an initial starting
point for assessing valuation reasonableness, ISS places emphasis on the
offer premium, market reaction, and strategic rationale.
|
• |
Market reaction - How has
the market responded to the proposed deal? A negative market reaction will
cause ISS to scrutinize a deal more closely.
|
• |
Strategic rationale - Does
the deal make sense strategically? From where is the value derived? Cost
and revenue synergies should not be overly aggressive or optimistic, but
reasonably achievable. Management should also have a favorable track
record of successful integration of historical acquisitions.
|
• |
Conflicts of interest - Are
insiders benefiting from the transaction disproportionately and
inappropriately as compared to non-insider shareholders? ISS will consider
whether any special interests may have influenced these directors and
officers to support or recommend the merger.
|
• |
Governance - Will the
combined company have a better or worse governance profile than the
current governance profiles of the respective parties to the transaction?
If the governance profile is to change for the worse, the burden is on the
company to prove that other issues (such as valuation) outweigh any
deterioration in governance. |
• |
If the issues presented in
the proposal are more appropriately or effectively dealt with through
legislation or government regulation; |
• |
If the company has already
responded in an appropriate and sufficient manner to the issue(s) raised
in the proposal; |
• |
Whether the proposal's
request is unduly burdensome (scope, timeframe, or cost) or overly
prescriptive; |
• |
The company's approach
compared with any industry standard practices for addressing the issue(s)
raised by the proposal; |
• |
If the proposal requests
increased disclosure or greater transparency, whether or not reasonable
and sufficient information is currently available to shareholders from the
company or from other publicly available sources;
and |
• |
If the proposal requests
increased disclosure or greater transparency, whether or not
implementation would reveal proprietary or confidential information that
could place the company at a competitive
disadvantage. |
▪ |
BHMS’ Proxy Oversight
Committee reviews and evaluates the data and recommendations provided by
the proxy service along with our own internal research on each company to
ensure that all votes are consistent with our policies and are in the best
interest of the beneficial owners. |
▪ |
The Committee conducts regular
reviews to monitor and ensure that our policy is observed, implemented
properly and amended or updated, as
appropriate. |
▪ |
Any new or controversial
issues are presented to the Proxy Oversight Committee for
evaluation. |
▪ |
All proxies are voted
uniformly in accordance with the policies reached by the Committee,
including proxies of companies that are also clients, thereby eliminating
any potential conflicts of interest. |
▪ |
The Proxy Oversight Committee
includes two portfolio managers, five research analysts, one client
service specialist and two proxy
coordinators. |
▪ |
All proxies are voted
uniformly in accordance with the Firm’s policies, including proxies of
companies that are also clients, thereby eliminating potential conflicts
of interest. |
▪ |
BHMS will identify any
conflicts that exist between the interests of the Firm and the client by
reviewing the relationship of the Firm with the issuer of each security to
determine if the Firm or any of our employees have any financial,
business, or personal relationship with the issuer.
|
▪ |
If a material conflict of
interest exists, the proxy coordinator will determine if it is appropriate
to disclose the conflict to the affected clients, thus allowing the
clients to choose whether to vote the proxies themselves, or to address
the voting issue through other objective means, such as using a
predetermined voting policy or an independent third party voting
recommendation. |
▪ |
BHMS will maintain a record of
the voting resolution of any conflict of
interest. |
▪ |
The proxy coordinators retain
the following proxy records in accordance with the SEC's five-year
retention requirement: |
• |
these policies and procedures
and any amendments; |
• |
a record of each vote cast;
and |
• |
any BHMS documentation that
was material to the proxy voting
decision. |
▪ |
BHMS sends a proxy report to
each client, at least annually (or as requested by client), listing the
number of shares voted and disclosing how each proxy was
voted. |
▪ |
All voting records are
retained on the network, which is backed up daily. The proxy service
provider retains records for seven years.
|
▪ |
BHMS’ guidelines addressing
specific issues are available upon request by calling 214-665-1900 or by
emailing:
[email protected]. |
▪ |
BHMS sends a daily electronic
transfer of all stock positions to the proxy service
provider. |
▪ |
The proxy service provider
identifies all accounts eligible to vote for each security and posts the
proposals and research on its secure, proprietary online
system. |
▪ |
The proxy coordinators review
each proposal and evaluate the proxy service provider’s
recommendations. |
• |
Domestic
Equity Accounts: If the proxy coordinators
determine that further research is necessary on a particular item, the
issue is referred to the Firm’s research analyst(s) who are designated as
specialists on that company and/or industry.
|
• |
Small Cap
Equity Accounts: The small cap portfolio
management team reviews every small cap proxy proposal and decides how
each will be voted on a case-by-case
basis. |
• |
International
Value and Diversified Small Cap Value Accounts: All proxies are voted
uniformly in accordance with the proxy service provider’s
recommendations. |
▪ |
The proxy coordinator
registers all votes on the proxy service provider’s secure, proprietary
online system. |
▪ |
The proxy service provider
verifies that every vote is received, voted, and
recorded. |
▪ |
BHMS sends a proxy report to
each client, at least annually (or as requested by client), listing the
number of shares voted and disclosing how each proxy was
voted. |
▪ |
All voting records are
retained on the network, which is backed up daily. The proxy service
provider retains records for seven years.
|
• |
strategy, financial policies,
disclosure, legal issues and standards of corporate behaviour W the level
and type of interaction with senior management
|
• |
relationships with the
shareholders and other stakeholders interested in the affairs of the
company (such as fund managers, creditors, debt financiers, analysts,
auditors and corporate regulators) |
• |
oversight of the company’s
material environmental and social risks1 and the manner in which these
are being monitored, disclosed and managed in the interests of
shareholders and other relevant stakeholders, and
|
• |
corporate performance.
|
• |
Directors/non-executive
directors – we
consider independence of a non-executive director to mean that they have
not been former executives of the relevant company for a minimum of five
(5) years. |
• |
Audit and
remuneration committees – membership of an audit
committee should be non-executive. Members of both committees should be
listed in annual reports and identified on the notice of re-election of
directors. It is preferred that only non-executive directors sit as
members of the remuneration committee. |
• |
New
directors – there
should be a formal and transparent procedure for the appointment of new
directors to a board. The Chairman and a majority of the members of the
Nomination Committee should be non-executive directors.
|
• |
Number of
board appointments – non-executive directors
must balance their number of board appointments with their personal
ability to provide a meaningful contribution to each board. Similarly,
executive directors who have outside directorships need to ensure that
their contribution to their current employer is not diminished.
|
• |
Removal of
directors – we
will not support changes to company constitutions that weaken the position
of non-executive directors on the board. |
• |
Retirement
by rotation –
with the exception of the Chief Executive, we expect all directors to seek
re-election, with one third seeking election each year. For directors over
the age of 72, and provided that the constitution of the company permits
re-election, the usual assessment criteria for selecting directors will
apply. |
• |
Division of
roles – in most
cases the role of Chairman and Chief Executive should be split. We
consider that board changes involving the Chief Executive becoming
Chairman or executive directors becoming nonexecutive is acceptable only
if there is a clear majority of independent
directors. |
• |
Hostile
takeovers –
CFSAMA will meet both parties at least once before making a decision. Any
decision made will be in the best interests of unit/shareholders.
|
• |
Political
donations –
CFSAMA supports the notion that companies should seek a mandate from
shareholders before making political donations. Such mandates should last
for no longer than three years. Justification of political donations
should be provided at the annual general meeting or in the annual
report. |
• |
Remuneration – we support the principle
that there should be full disclosure of directors’ total remuneration
packages, including share options, fringe benefits and retirement
benefits. We expect appropriate justification for levels of remuneration
and the link of these to company objectives and performance from the
Chairman of the Remuneration Committee.
|
• |
Termination
payments – we
believe that payments on termination of executive directors’ contracts
should not be excessive. In the case of poor performance, a statement of
justification should be given. We may write to the Chairman of the
Remuneration Committee to ask for details of compensation payments to
departing executive directors if they are not published. Disclosure of any
contingent liabilities should be made. |
• |
Long term
incentive schemes
– we support the introduction of share-based incentive schemes as a means
of aligning the longer-term interests of management and shareholders.
These schemes should be subject to shareholder approval and have
reasonably demanding performance targets. We prefer that no awards vest
at, or below, median performance with an appropriate comparator universe.
|
• |
Options for
non-executive directors – we are of the view that
these should not be granted. We support the notion that non-executive
directors can be paid in the stock of the company.
|
• |
Environmental
and social risks
– we believe that well governed companies have appropriate environmental
and social risk policies and management procedures in place. As part of
the governance process, we expect boards to have oversight of these risks
and policies, and executive management to be able to publicly report on
these risks and there management and indicate where appropriate the
potential impact on company earnings. |
• |
Engagement
– as owners, or
potential owners, engage companies, and where appropriate, vote on issues
where company value is at risk from ESG issues
|
• |
Voting – as owners, CFSAMA portfolio
managers will develop their own voting positions on key environmental and
social issues, and |
• |
Reporting – the outcomes of engagement
and voting activities to clients. |
• |
Environmental and social risks
impacting materially on earnings, including contingent liabilities
|
• |
Governance policies and
procedures for assuring compliance with internal ESG policies, improving
performance and mitigating risks across operations, supply chain and
products and services |
• |
CFSAMA expects all ASX/S&P
300 companies to report in keeping with these guidelines
|
• |
ESG risks
and performance –
companies are encouraged to report their ESG performance publically on a
regular basis in line with the Global Reporting Initiative’s G3
Guidelines. In recommending G3 as the preferred ESG disclosure framework,
CFSAMA expects companies, especially smaller companies and companies in
emerging markets, to select only those key performance indicators that
appropriately represent the material ESG considerations pertinent to their
operations (see Appendix C) |
• |
Emerging
markets – for
companies with operations in developing countries and/or who source
products from these companies, CFSAMA expects these companies to be
operating within the OECD Guidelines for Multinational Enterprises
(Appendix C) |
• |
Climate
change –
companies operating in high energy and greenhouse gas intensive sectors
are expected to report their climate change risks and opportunities in
line with the Global Framework for Climate Risk Disclosure (Appendix C),
and |
• |
Sector
guidelines –
should CFSAMA develop its own sector guidelines, it will make these
available to companies which face material ESG issues in their operations.
|
• |
Risk
– where CFSAMA’s
assessment shows that certain ESG factors have a material impact on
company earnings or value or have the potential to do so
|
• |
Management
Performance –
where, in CFSAMA’s assessment, management is not adequately addressing ESG
issues that could have a material impact on earnings and/or value
|
• |
Process – in keeping with CFSAMA’s
approach, company engagement on ESG issues, when necessary, will be
primarily carried out on a direct basis (e.g. by correspondence requesting
information and/or clarification; meeting with management; and indirectly
via its proxy voting process |
• |
Outcomes – CFSAMA takes its ownership
and engagement responsibilities seriously and will only engage companies
on material issues. CFSAMA engages companies to achieve specific outcomes,
namely ensure good ESG practices and thereby protect investor interests.
In instances where management does not respond adequately to CFSAMA’s
engagement, this may impact negatively on its valuation assessment and/or
could result in CFSAMA divesting its ownership
|
• |
Accountability
– given
engagement is an integral part of ownership, company engagement is best
carried out by the responsible portfolio managers and their investment
teams |
• |
Themes – CFSAMA recognises that ESG
covers a wide range of issues and therefore it will concentrate its
efforts on those material ESG issues in which it has a significant
understanding and where it can exert influence towards achieving a
specific outcome, and |
• |
Collaboration
– CFSAMA
recognises the benefits of collaborative engagement and therefore where
appropriate, may collaborate in industry initiatives and forums where
appropriate. |
• |
Guideline
1: Communication
Investment managers should encourage direct contact with companies
including constructive communication with both senior management and board
members about performance, corporate governance and other matters
affecting shareholder interests. |
• |
Guideline
2: Voting
Investment managers should vote on all material issues at all Australian
company meetings where they have voting authority and responsibility to do
so. |
• |
Guideline
3: Proxy Voting Policy and Procedures Investment managers should
have a written policy on the exercising of proxy votes that is approved by
their board and formal internal procedures to ensure that policy is
applied consistently. |
• |
Guideline
4: Reporting to Clients Wherever a client delegates
responsibility for exercising proxy votes, the investment manager should
report back to the client when votes are cast (including abstentions) on
investment owned by the client. Reporting on voting should be part of the
regular reporting process to each client. The investment manager should
report back to clients whether or not the votes are cast. The report
should include a positive statement that the investment manager has
complied with its obligation to exercise voting rights in the client’s
interests only. If an investment manager is unable to make the statement
without qualification, the report should include an explanation.
|
• |
integrate ESG considerations
into our investment, ownership and engagement policies and procedures
|
• |
engage with companies in which
we invest, or are considering for investment, with regard to their ESG
risk management strategies, performance, disclosure and management
capabilities, as well as sharing with them our approach and implementation
progress |
• |
assess ESG risks at a sector
and asset level, rather than excluding any specific sectors from
consideration W develop specific policies and procedures on how we
approach prominent ESG issues, such as climate change and human rights
|
• |
encourage the entities in
which we invest to improve and report on their ESG performance in keeping
with emerging best practice |
• |
promote responsible investment
by playing an active part in relevant debates, policy consultations and in
the global network of investors who face similar ESG integration
challenges, and |
• |
manage and report on our own
ESG performance in keeping with emerging best practice. We will annually
review our performance, with the setting of objectives and targets at the
end of each calendar year, commencing in 2007. We will also submit annual
reviews to the UN PRI on our progress. |
1. |
Australian
Superannuation ESG Guidelines – contains suggestions for funds
on how to incorporate ESG issues into investment processes and to
facilitate the broader consideration of ESG issues across the investment
industry. The guidelines also provide suggestions for fund managers and
asset consultants to assist with the consideration of ESG issues, outlines
the expectations that superannuation funds may have of their service
providers and provides broad expectations and suggestions on ESG
disclosure for listed companies. |
2. |
The Global
Reporting Initiative (GRI) – is a not-for-profit,
worldwide, multi-stakeholder network of business, civil society, labour,
investors, accountants and others that collaborate through
consensus-seeking approaches to create and continuously improve a
sustainability reporting framework. The third version of the Guidelines,
known as the G3 Guidelines, is the world’s most widely used sustainability
reporting framework. |
3. |
Global
Framework for Climate Risk Disclosure – is a statement of investors’
expectations about the information that they need to analyse climate risk
and opportunities. The Framework aims to encourage standardised climate
risk disclosure so that it is easy for companies to provide and easy for
investors to analyse. The Framework is not a new reporting mechanism.
Instead, the investors supporting the Framework intend for companies to
report through existing reporting mechanisms, including mandatory
financial disclosures to securities agencies, the leading voluntary
mechanisms (the Carbon Disclosure Project and the Global Reporting
Initiative), and other communications with investors.
|
4. |
Carbon
Disclosure Project (CDP) – is an independent
not-for-profit organisation, supported by investors, that facilitates a
dialogue with companies, supported by quality information regarding the
implications for shareholder value and commercial operations presented by
climate change. The cornerstone of the CDP is the annual survey of the
world’s largest corporations and which is emerging as one of the main
climate change reporting frameworks. |
5. |
OECD
Guidelines for Multinational Enterprises – are recommendations
addressed by governments to multinational enterprises operating in or from
adhering countries (the 30 OECD member countries plus ten non-member
countries: Argentina, Brazil, Chile, Egypt, Estonia, Israel, Latvia,
Lithuania, Romania and Slovenia). They provide voluntary principles and
standards for responsible business conduct in a variety of areas including
employment and industrial relations, human rights, environment,
information disclosure, combating bribery, consumer interests, science and
technology, competition, and taxation. |
Part
I: |
JPMorgan
Asset Management Global Proxy-Voting Procedures | |||
A. |
Objective |
3 |
| |
B. |
Proxy
Committee |
3 |
| |
C. |
The Proxy
Voting Process |
3 |
| |
D. |
Material
Conflicts of Interest |
5 |
| |
E. |
Escalation
of Material Conflicts of Interest |
5 |
| |
F. |
Recordkeeping |
6 |
| |
Exhibit
A |
6 |
| ||
Part
II |
JPMorgan
Asset Management Proxy-Voting Guidelines | |||
A. |
North
America |
9-25 |
| |
Table of
Contents |
9-10 |
| ||
Guidelines |
11-25 |
| ||
• |
“walling off” personnel with
knowledge of the material conflict to ensure that such personnel do not
influence the relevant proxy vote; |
• |
voting in accordance with the
applicable Guidelines, if any, if the application of the Guidelines would
objectively result in the casting of a proxy vote in a predetermined
manner; or |
• |
deferring the vote to the
Independent Voting Service, if any, which will vote in accordance with its
own recommendation. |
• |
a copy of the JPMAM Proxy
Voting Procedures and Guidelines; |
• |
a copy of each proxy statement
received on behalf of JPMAM clients; |
• |
a record of each vote cast on
behalf of JPMAM client holdings; |
• |
a copy of all documents
created by JPMAM personnel that were material to making a decision on the
voting of client securities or that memorialize the basis of the decision;
|
• |
a copy of the documentation of
all dialogue with issuers and JPMAM personnel created by JPMAM personnel
prior to the voting of client securities;
and |
• |
a copy of each written request
by a client for information on how JPMAM voted proxies on behalf of the
client, as well as a copy of any written response by JPMAM to any request
by a JPMAM client for information on how JPMAM voted proxies on behalf of
our client. |
1. |
Uncontested
Director Elections |
11 |
| |
2. |
Proxy
Contests |
12 |
| |
a. |
Election of
Directors |
12 |
| |
b. |
Reimburse Proxy Solicitation
Expenses |
12 |
| |
3. |
Ratification
of Auditors |
12 |
| |
4. |
Proxy
Contest Defenses |
12-13 |
| |
a. |
Board Structure: Staggered vs.
Annual Elections |
12 |
| |
b. |
Shareholder Ability to Remove
Directors |
13 |
| |
c. |
Cumulative
Voting |
13 |
| |
d. |
Shareholder Ability to Call
Special Meeting |
13 |
| |
e. |
Shareholder Ability to Act by
Written Consent |
13 |
| |
f. |
Shareholder Ability to Alter
the Size of the Board |
13 |
| |
5. |
Tender
Offer Defenses |
14 |
| |
a. |
Poison Pills |
14 |
| |
b. |
Fair Price
Provisions |
14 |
| |
c. |
Greenmail |
14 |
| |
d. |
Unequal Voting
Rights |
14 |
| |
e. |
Supermajority Shareholder Vote
Requirement to Amend Charter or Bylaws |
14 |
| |
f. |
Supermajority Shareholder Vote
Requirement to Approve Mergers |
14 |
| |
6. |
Miscellaneous
Board Provisions |
15-16 |
| |
a. |
Separate Chairman and CEO
Positions |
15 |
| |
b. |
Lead Directors and Executive
Sessions |
15 |
| |
c. |
Majority of Independent
Directors |
15 |
| |
Hedging/Pledging of
Securities |
16 |
| ||
d. |
Stock Ownership
Requirements |
16 |
| |
e. |
Term of Office |
16 |
| |
f. |
Director and Officer
Indemnification and Liability Protection |
16 |
| |
g. |
Board Size |
16 |
| |
h. |
Majority Vote
Standard |
16 |
| |
7. |
Miscellaneous
Governance Provisions |
16-17 |
| |
a. |
Independent Nominating
Committee |
16 |
| |
b. |
Confidential
Voting |
16 |
| |
c. |
Equal Access |
17 |
| |
d. |
Bundled
Proposals |
17 |
| |
e. |
Charitable
Contributions |
17 |
| |
f. |
Date/Location of
Meeting |
17 |
| |
g. |
Include Nonmanagement
Employees on Board |
17 |
| |
h. |
Adjourn Meeting if Votes are
Insufficient |
17 |
| |
i. |
Other Business |
17 |
| |
j. |
Disclosure of Shareholder
Proponents |
17 |
| |
8.
|
Capital
Structure |
17-19 |
| |
a. |
Common Stock
Authorization |
17 |
| |
b. |
Stock Distributions: Splits
and Dividends |
18 |
| |
c. |
Reverse Stock
Splits |
18 |
| |
d. |
Blank Check Preferred
Authorization |
18 |
| |
e. |
Shareholder Proposals
Regarding Blank Check Preferred Stock |
18 |
| |
f. |
Adjustments to Par Value of
Common Stock |
18 |
| |
g. |
Restructurings/Recapitalizations |
18 |
| |
h. |
Share Repurchase
Programs |
19 |
| |
i. |
Targeted Share
Placements |
19 |
|
9. |
Executive
and Director Compensation |
19-21 |
| |
a. |
Stock-based Incentive
Plans |
19 |
| |
b. |
Approval of Cash or
Cash-and-Stock Bonus Plans |
20 |
| |
c. |
Shareholder Proposals to Limit
Executive and Director Pay |
20 |
| |
d. |
Say on Pay |
20 |
| |
e. |
Golden and Tin
Parachutes |
20 |
| |
f. |
401(k) Employee Benefit
Plans |
21 |
| |
g. |
Employee Stock Purchase
Plans |
21 |
| |
h. |
Option
Expensing |
21 |
| |
i. |
Option
Repricing |
21 |
| |
j. |
Stock Holding
Periods |
21 |
| |
k. |
Transferable Stock
Options |
21 |
| |
l. |
Recoup Bonuses |
21 |
| |
10. |
Incorporation |
21-22 |
| |
a. |
Reincorporation Outside of
the United States |
21 |
| |
b. |
Voting on State Takeover
Statutes |
22 |
| |
c. |
Voting on Reincorporation
Proposals |
22 |
| |
11. |
Mergers and
Corporate Restructurings |
22 |
| |
a. |
Mergers and
Acquisitions |
22 |
| |
b. |
Nonfinancial Effects of a
Merger or Acquisition
|
22 |
| |
c. |
Corporate
Restructuring |
22 |
| |
d. |
Spin-offs |
22 |
| |
e. |
Asset Sales |
22 |
| |
f. |
Liquidations |
22 |
| |
g. |
Appraisal
Rights |
22 |
| |
h. |
Changing Corporate
Name |
22 |
| |
12. |
Social and
Environmental Issues |
23-25 |
| |
a. |
Energy and
Environment |
23 |
| |
b. |
Military
Business |
23 |
| |
c. |
International Labor
Organization Code of Conduct |
23 |
| |
d. |
Promote Human Rights in China,
Nigeria, and Burma |
24 |
| |
e. |
Equal Employment Opportunity
and Discrimination |
24 |
| |
f. |
Animal Rights |
24 |
| |
g. |
Product Integrity and
Marketing |
24 |
| |
h. |
Human Resources
Issues |
24 |
| |
i. |
Link Executive Pay with Social
and/or Environmental Criteria |
24 |
| |
j. |
High Risk
Markets |
24 |
| |
k. |
Political
Contributions |
24-25 |
| |
13. |
Foreign
Proxies |
25 |
| |
14. |
Pre-Solicitation
Contact |
25 |
|
• |
Designated lead director,
appointed from the ranks of the independent board members with clearly
delineated duties. At a minimum these should
include: |
• |
2/3 of independent
board; |
• |
All-independent key
committees; |
• |
Committee chairpersons
nominated by the independent directors; |
• |
CEO performance is reviewed
annually by a committee of outside directors;
and |
• |
Established governance
guidelines. |
• |
a pending acquisition or sale
of a substantial business; |
• |
financial results that are
better or worse than recent trends would lead one to
expect; |
• |
major management
changes; |
• |
an increase or decrease in
dividends; |
• |
calls or redemptions or other
purchases of its securities by the
company; |
• |
a stock split, dividend or
other recapitalization; or |
• |
financial projections prepared
by the Company or the Company's
representatives. |
1) |
selecting proper
directors |
2) |
insuring that these
directors have properly supervised
management |
3) |
resolve issues of natural
conflict between shareholders and
managers |
a. |
Compensation |
b. |
Corporate
Expansion |
c. |
Dividend
Policy |
d. |
Free Cash
Flow |
e. |
Various Restrictive
Corporate Governance Issues, Control Issues,
etc. |
f. |
Preserving
Integrity |
a. |
Increasing authorized
shares. |
b. |
Creation of new classes of
stock. |
c. |
Directors and Management
Liability and Indemnification. |
d. |
Compensation Plans
(Incentive Plans) |
e. |
Greenmail |
f. |
Cumulative
Voting |
g. |
Proposals Designed to
Discourage Mergers & Acquisitions In
Advance |
h. |
Confidential
Voting |
i. |
Disclosure |
j. |
Sweeteners |
k. |
Changing the State of
Incorporation |
l. |
Equal Access to Proxy
Statements |
m. |
Abstention
Votes |
A. |
Human
Rights |
B. |
Nuclear
Issues |
C. |
Defense
Issues |
D. |
Social
Responsibility |
1. |
South
Africa |
2. |
Northern
Ireland |
I. |
Types of Accounts for Which
ClearBridge Votes Proxies |
II. |
General
Guidelines |
III. |
How ClearBridge
Votes |
IV. |
Conflicts of
Interest |
A. |
Procedures for Identifying
Conflicts of Interest |
B. |
Procedures for Assessing
Materiality of Conflicts of Interest and for Addressing Material Conflicts
of Interest |
C. |
Third Party Proxy Voting Firm
– Conflicts of Interest |
V. |
Voting
Policy |
A. |
Election of
Directors |
B. |
Proxy
Contests |
C. |
Auditors |
D. |
Proxy Contest
Defenses |
E. |
Tender Offer
Defenses |
F. |
Miscellaneous Governance
Provisions |
G. |
Capital
Structure |
H. |
Executive and Director
Compensation |
I. |
State of
Incorporation |
J. |
Mergers and Corporate
Restructuring |
K. |
Social and Environmental
Issues |
L. |
Miscellaneous |
VI. |
Other
Considerations |
A. |
Share
Blocking |
B. |
Securities on
Loan |
VII. |
Disclosure of Proxy
Voting |
VIII. |
Recordkeeping and
Oversight |
A. |
Procedures
for Identifying Conflicts of Interest |
1. |
ClearBridge’s employees are
periodically reminded of their obligation (i) to be aware of the potential
for conflicts of interest on the part of ClearBridge with respect to
voting proxies on behalf of client accounts both as a result of their
personal relationships or personal or business relationships relating to
another Legg Mason business unit, and (ii) to bring conflicts of interest
of which they become aware to the attention of ClearBridge’s General
Counsel/Chief Compliance Officer. |
2. |
ClearBridge’s finance area
maintains and provides to ClearBridge Compliance and proxy voting
personnel an up- to-date list of all client relationships that have
historically accounted for or are projected to account for greater than 1%
of ClearBridge’s net revenues. |
3. |
As a general matter,
ClearBridge takes the position that relationships between a
non-ClearBridge Legg Mason unit and an issuer (e.g., investment management
relationship between an issuer and a non-ClearBridge Legg Mason affiliate)
do not present a conflict of interest for ClearBridge in voting proxies
with respect to such issuer because ClearBridge operates as an independent
business unit from other Legg Mason business units and because of the
existence of informational barriers between ClearBridge and certain other
Legg Mason business units. As noted above, ClearBridge employees are under
an obligation to bring such conflicts of interest, including conflicts of
interest which may arise because of an attempt by another Legg Mason
business unit or non-ClearBridge Legg Mason officer or employee to
influence proxy voting by ClearBridge to the attention of ClearBridge
Compliance. |
4. |
A list of issuers with respect
to which ClearBridge has a potential conflict of interest in voting
proxies on behalf of client accounts will be maintained by ClearBridge
proxy voting personnel. ClearBridge will not vote proxies relating to such
issuers until it has been determined that the conflict of interest is not
material or a method for resolving the conflict of interest has been
agreed upon and implemented, as described in Section IV below.
|
B. |
Procedures
for Assessing Materiality of Conflicts of Interest and for Addressing
Material Conflicts of Interest |
1. |
ClearBridge maintains a Proxy
Committee which, among other things, reviews and addresses conflicts of
interest brought to its attention. The Proxy Committee is comprised of
such ClearBridge personnel (and others, at ClearBridge’s request), as are
designated from time to time. The current members of the Proxy Committee
are set forth in the Proxy Committee’s Terms of
Reference. |
2. |
All conflicts of interest
identified pursuant to the procedures outlined in Section IV. A. must be
brought to the attention of the Proxy Committee for resolution. A proxy
issue that will be voted in accordance with a stated ClearBridge position
on such issue or in accordance with the recommendation of an independent
third party generally is not brought to the attention of the Proxy
Committee for a conflict of interest review because ClearBridge’s position
is that any conflict of interest issues are resolved by voting in
accordance with a pre-determined policy or in accordance with the
recommendation of an independent third party.
|
3. |
The Proxy Committee will
determine whether a conflict of interest is material. A conflict of
interest will be considered material to the extent that it is determined
that such conflict is likely to influence, or appear to influence,
ClearBridge’s decision-making in voting the proxy. All materiality
determinations will be based on an assessment of the particular facts and
circumstances. A written record of all materiality determinations made by
the Proxy Committee will be maintained. |
4. |
If it is determined by the
Proxy Committee that a conflict of interest is not material, ClearBridge
may vote proxies notwithstanding the existence of the
conflict. |
5. |
If it is determined by the
Proxy Committee that a conflict of interest is material, the Proxy
Committee will determine an appropriate method to resolve such conflict of
interest before the proxy affected by the conflict of interest is voted.
Such determination shall be based on the particular facts and
circumstances, including the importance of the proxy issue, the nature of
the conflict of interest, etc. Such methods may
include: |
• |
disclosing the conflict to
clients and obtaining their consent before
voting; |
• |
suggesting to clients that
they engage another party to vote the proxy on their
behalf; |
• |
in the case of a conflict of
interest resulting from a particular employee’s personal relationships,
removing such employee from the decision-making process with respect to
such proxy vote; or |
• |
such other method as is deemed
appropriate given the particular facts and circumstances, including the
importance of the proxy issue, the nature of the conflict of interest,
etc.* |
A. |
Election of
Directors |
1. |
Voting on Director Nominees in
Uncontested Elections. |
a. |
We withhold our vote from a
director nominee who: |
• |
attended less than 75 percent
of the company’s board and committee meetings without a valid excuse
(illness, service to the nation/local government, work on behalf of the
company); |
• |
were members of the company’s
board when such board failed to act on a shareholder proposal that
received approval of a majority of shares cast for the previous two
consecutive years; |
• |
received more than 50 percent
withheld votes of the shares cast at the previous board election, and the
company has failed to address the issue as to
why; |
• |
is an insider where: (1) such
person serves on any of the audit, compensation or nominating committees
of the company’s board, (2) the company’s board performs the functions
typically performed by a company’s audit, compensation and nominating
committees, or (3) the full board is less than a majority independent
(unless the director nominee is also the company CEO, in which case we
will vote FOR); |
• |
is a member of the company’s
audit committee, when excessive non-audit fees were paid to the auditor,
or there are chronic control issues and an absence of established
effective control mechanisms. |
b. |
We vote for all other director
nominees. |
2. |
Chairman and CEO is the Same
Person. |
• |
Designation of a lead
director |
• |
Majority of independent
directors (supermajority) |
• |
All independent key
committees |
• |
Size of the company (based on
market capitalization) |
• |
Established governance
guidelines |
• |
Company
performance |
3. |
Majority of Independent
Directors |
a. |
We vote for shareholder
proposals that request that the board be comprised of a majority of
independent directors. Generally that would require that the director have
no connection to the company other than the board seat. In determining
whether an independent director is truly independent (e.g. when voting on
a slate of director candidates), we consider certain factors including,
but not necessarily limited to, the following: whether the director or
his/her company provided professional services to the company or its
affiliates either currently or in the past year; whether the director has
any transactional relationship with the company; whether the director is a
significant customer or supplier of the company; whether the director is
employed by a foundation or university that received significant grants or
endowments from the company or its affiliates; and whether there are
interlocking directorships. |
b. |
We vote for shareholder
proposals that request that the board audit, compensation and/or
nominating committees include independent directors
exclusively. |
4. |
Stock Ownership
Requirements |
5. |
Term of
Office |
6. |
Director and Officer
Indemnification and Liability Protection |
a. |
Subject to subparagraphs 2, 3,
and 4 below, we vote for proposals concerning director and officer
indemnification and liability protection. |
b. |
We vote for proposals to limit
and against proposals to eliminate entirely director and officer liability
for monetary damages for violating the duty of
care. |
c. |
We vote against
indemnification proposals that would expand coverage beyond just legal
expenses to acts, such as negligence, that are more serious violations of
fiduciary obligations than mere
carelessness. |
d. |
We vote for only those
proposals that provide such expanded coverage noted in subparagraph 3
above in cases when a director's or officer's legal defense was
unsuccessful if: (1) the director was found to have acted in good faith
and in a manner that he reasonably believed was in the best interests of
the company, and (2) if only the director's
legal expenses would be covered. |
7. |
Director
Qualifications |
a. |
We vote case-by-case on
proposals that establish or amend director qualifications. Considerations
include how reasonable the criteria are and to what degree they may
preclude dissident nominees from joining the
board. |
b. |
We vote against shareholder
proposals requiring two candidates per board
seat. |
B. |
Proxy
Contests |
1. |
Voting for Director Nominees
in Contested Elections |
2. |
Reimburse Proxy Solicitation
Expenses |
C. |
Auditors |
1. |
Ratifying
Auditors |
2. |
Financial Statements and
Director and Auditor Reports |
3. |
Remuneration of
Auditors |
4. |
Indemnification of
Auditors |
D. |
Proxy
Contest Defenses |
1. |
Board Structure: Staggered vs.
Annual Elections |
a. |
We vote against proposals to
classify the board. |
b. |
We vote for proposals to
repeal classified boards and to elect all directors
annually. |
2. |
Shareholder Ability to Remove
Directors |
a. |
We vote against proposals that
provide that directors may be removed only for
cause. |
b. |
We vote for proposals to
restore shareholder ability to remove directors with or without
cause. |
c. |
We vote against proposals that
provide that only continuing directors may elect replacements to fill
board vacancies. |
d. |
We vote for proposals that
permit shareholders to elect directors to fill board
vacancies. |
3. |
Cumulative
Voting |
a. |
If plurality voting is in
place for uncontested director elections, we vote for proposals to permit
or restore cumulative voting. |
b. |
If majority voting is in place
for uncontested director elections, we vote against cumulative
voting. |
c. |
If plurality voting is in
place for uncontested director elections, and proposals to adopt both
cumulative voting and majority voting are on the same slate, we vote for
majority voting and against cumulative
voting. |
4. |
Majority
Voting |
5. |
Shareholder Ability to Call
Special Meetings |
a. |
We vote against proposals to
restrict or prohibit shareholder ability to call special
meetings. |
b. |
We vote for proposals that
provide shareholders with the ability to call special meetings, taking
into account a minimum ownership threshold of 10 percent (and investor
ownership structure, depending on
bylaws). |
6. |
Shareholder Ability to Act by
Written Consent |
a. |
We vote against proposals to
restrict or prohibit shareholder ability to take action by written
consent. |
b. |
We vote for proposals to allow
or make easier shareholder action by written
consent. |
7. |
Shareholder Ability to Alter
the Size of the Board |
a. |
We vote for proposals that
seek to fix the size of the board. |
b. |
We vote against proposals that
give management the ability to alter the size of the board without
shareholder approval. |
8. |
Advance Notice
Proposals |
9. |
Amendment of
By-Laws |
a. |
We vote against proposals
giving the board exclusive authority to amend the
by-laws. |
b. |
We vote for proposals giving
the board the ability to amend the by-laws in addition to
shareholders. |
10. |
Article Amendments (not
otherwise covered by ClearBridge Proxy Voting Policies and
Procedures). |
• |
shareholder rights are
protected; |
• |
there is negligible or
positive impact on shareholder value; |
• |
management provides adequate
reasons for the amendments; and |
• |
the company is required to do
so by law (if applicable). |
E. |
Tender
Offer Defenses |
1. |
Poison
Pills |
a. |
We vote for shareholder
proposals that ask a company to submit its poison pill for shareholder
ratification. |
b. |
We vote on a case-by-case
basis on shareholder proposals to redeem a company's poison pill.
Considerations include: when the plan was originally adopted; financial
condition of the company; terms of the poison
pill. |
c. |
We vote on a case-by-case
basis on management proposals to ratify a poison pill. Considerations
include: sunset provision - poison pill is submitted to shareholders for
ratification or rejection every 2 to 3 years; shareholder redemption
feature -10% of the shares may call a special meeting or seek a written
consent to vote on rescinding the rights
plan. |
2. |
Fair Price
Provisions |
a. |
We vote for fair price
proposals, as long as the shareholder vote requirement embedded in the
provision is no more than a majority of disinterested
shares. |
b. |
We vote for shareholder
proposals to lower the shareholder vote requirement in existing fair price
provisions. |
3. |
Greenmail |
a. |
We vote for proposals to adopt
anti-greenmail charter or bylaw amendments or otherwise restrict a
company's ability to make greenmail
payments. |
b. |
We vote on a case-by-case
basis on anti-greenmail proposals when they are bundled with other charter
or bylaw amendments. |
4. |
Unequal Voting
Rights |
a. |
We vote against dual class
exchange offers. |
b. |
We vote against dual class
re-capitalization. |
5. |
Supermajority Shareholder Vote
Requirement to Amend the Charter or
Bylaws |
a. |
We vote against management
proposals to require a supermajority shareholder vote to approve charter
and bylaw amendments. |
b. |
We vote for shareholder
proposals to lower supermajority shareholder vote requirements for charter
and bylaw amendments. |
6. |
Supermajority Shareholder Vote
Requirement to Approve Mergers |
a. |
We vote against management
proposals to require a supermajority shareholder vote to approve mergers
and other significant business
combinations. |
b. |
We vote for shareholder
proposals to lower supermajority shareholder vote requirements for mergers
and other significant business
combinations. |
7. |
White Squire
Placements |
F. |
Miscellaneous
Governance Provisions |
1. |
Confidential
Voting |
a. |
We vote for shareholder
proposals that request corporations to adopt confidential voting, use
independent tabulators and use independent inspectors of election as long
as the proposals include clauses for proxy contests as follows: in the
case of a contested election, management is permitted to request that the
dissident group honor its confidential voting policy. If the dissidents
agree, the policy remains in place. If the dissidents do not agree, the
confidential voting policy is waived. |
b. |
We vote for management
proposals to adopt confidential voting subject to the proviso for
contested elections set forth in sub-paragraph A.1
above. |
G. |
Capital
Structure |
1. |
Common Stock
Authorization |
a. |
We vote on a case-by-case
basis on proposals to increase the number of shares of common stock
authorized for issue, except as described in paragraph 2 below.
|
b. |
Subject to paragraph 3, below
we vote for the approval requesting increases in authorized shares if the
company meets certain criteria: |
• |
Company has already issued a
certain percentage (i.e. greater than 50%) of the company's allotment.
|
• |
The proposed increase is
reasonable (i.e. less than 150% of current inventory) based on an analysis
of the company's historical stock management or future growth outlook of
the company. |
c. |
We vote on a case-by-case
basis, based on the input of affected portfolio managers, if holding is
greater than 1% of an account. |
a. |
We vote against proposals to
create, authorize or increase the number of shares with regard to blank
check preferred stock with unspecified voting, conversion, dividend
distribution and other rights. |
b. |
We vote for proposals to
create “declawed” blank check preferred stock (stock that cannot be used
as a takeover defense). |
c. |
We vote for proposals to
authorize preferred stock in cases where the company specifies the voting,
dividend, conversion, and other rights of such stock and the terms of the
preferred stock appear reasonable. |
d. |
We vote for proposals
requiring a shareholder vote for blank check preferred stock
issues. |
a. |
We vote on a case-by-case
basis for shareholder proposals seeking to establish them and consider the
following factors: |
• |
Size of the
Company. |
• |
Characteristics of the size of
the holding (holder owning more than 1% of the outstanding
shares). |
• |
Percentage of the rights
offering (rule of thumb less than 5%). |
b. |
We vote on a case-by-case
basis for shareholder proposals seeking the elimination of pre-emptive
rights. |
7. |
Debt
Restructuring |
• |
It is intended for financing
purposes with minimal or no dilution to current shareholders
|
• |
It is not designed to preserve
the voting power of an insider or significant
shareholder |
10. |
Issue Stock for Use with
Rights Plan |
H. |
Executive
and Director Compensation |
a. |
Amendments that Place a Cap on
Annual Grant or Amend Administrative
Features |
a. |
We vote on a case-by-case
basis on all shareholder proposals that seek additional disclosure of
executive and director pay information. Considerations include: cost and
form of disclosure. We vote for such proposals if additional disclosure is
relevant to shareholder’s needs and would not put the company at a
competitive disadvantage relative to its
industry. |
b. |
We vote on a case-by-case
basis on all other shareholder proposals that seek to limit executive and
director pay. |
• |
Compensation committee
comprised of independent outside
directors |
• |
Maximum award
limits |
• |
Repricing without shareholder
approval prohibited |
• |
3-year average burn rate for
company |
• |
Plan administrator has
authority to accelerate the vesting of
awards |
• |
Shares under the plan subject
to performance criteria |
5. |
Golden
Parachutes |
a. |
We vote for shareholder
proposals to have golden parachutes submitted for shareholder
ratification. |
b. |
We vote on a case-by-case
basis on all proposals to ratify or cancel golden parachutes.
Considerations include: the amount should not exceed 3 times average base
salary plus guaranteed benefits; golden parachute should be less
attractive than an ongoing employment opportunity with the
firm. |
6. |
Golden
Coffins |
a. |
We vote for shareholder
proposals that request a company not to make any death benefit payments to
senior executives’ estates or beneficiaries, or pay premiums in respect to
any life insurance policy covering a senior executive’s life (“golden
coffin”). We carve out benefits provided under a plan, policy or
arrangement applicable to a broader group of employees, such as offering
group universal life insurance. |
b. |
We vote for shareholder
proposals that request shareholder approval of survivor benefits for
future agreements that, following the death of a senior executive, would
obligate the company to make payments or awards not
earned. |
7. |
Anti Tax Gross-up
Policy |
a. |
We vote for proposals that ask
a company to adopt a policy whereby it will not make, or promise to make,
any tax gross-up payment to its senior executives, except for tax
gross-ups provided pursuant to a plan, policy, or arrangement applicable
to management employees of the company generally, such as relocation or
expatriate tax equalization policy; we also vote for proposals that ask
management to put gross-up payments to a shareholder
vote. |
b. |
We vote against proposals
where a company will make, or promise to make, any tax gross-up payment to
its senior executives without a shareholder vote, except for tax gross-ups
provided pursuant to a plan, policy, or arrangement applicable to
management employees of the company generally, such as relocation or
expatriate tax equalization policy. |
8. |
Employee Stock Ownership Plans
(ESOPs) |
a. |
We vote for qualified plans
where all of the following apply: |
• |
The purchase price is at least
85 percent of fair market value |
• |
The offering period is 27
months or less |
• |
The number of shares allocated
to the plan is five percent or less of outstanding
shares |
b. |
We vote for non-qualified
plans where all of the following apply: |
• |
All employees of the company
are eligible to participate (excluding 5 percent or more beneficial
owners) |
• |
There are limits on employee
contribution (ex: fixed dollar amount) |
• |
There is a company matching
contribution with a maximum of 25 percent of an employee’s
contribution |
• |
There is no discount on the
stock price on purchase date (since there is a company
match) |
11. |
Stock Compensation
Plans |
a. |
We vote for stock compensation
plans which provide a dollar-for-dollar cash for stock
exchange. |
b. |
We vote on a case-by-case
basis for stock compensation plans which do not provide a
dollar-for-dollar cash for stock exchange using a quantitative
model. |
12. |
Directors Retirement
Plans |
a. |
We vote against retirement
plans for non-employee directors. |
b. |
We vote for shareholder
proposals to eliminate retirement plans for non-employee
directors. |
• |
Historic trading
patterns |
• |
Rationale for the
repricing |
• |
Value-for-value
exchange |
• |
Option vesting
|
• |
Term of the option
|
• |
Exercise
price |
• |
Participation |
a. |
We vote against shareholder
proposals seeking to set absolute levels on compensation or otherwise
dictate the amount or form of
compensation. |
b. |
We vote against shareholder
proposals requiring director fees be paid in stock
only. |
c. |
We vote for shareholder
proposals to put option repricing to a shareholder
vote. |
d. |
We vote for shareholder
proposals that call for a non-binding advisory vote on executive pay
(“say-on-pay”). Company boards would adopt a policy giving shareholders
the opportunity at each annual meeting to vote on an advisory resolution
to ratify the compensation of the named executive officers set forth in
the proxy statement’s summary compensation table.
|
e. |
We vote “annual” for the
frequency of say-on-pay proposals rather than once every two or three
years. |
f. |
We vote on a case-by-case
basis for all other shareholder proposals regarding executive and director
pay, taking into account company performance, pay level versus peers, pay
level versus industry, and long term corporate
outlook. |
• |
Company performance over the
last 1-, 3- and 5-year periods on a total shareholder return
basis |
• |
Performance metrics for short-
and long-term incentive programs |
• |
CEO pay relative to company
performance (is there a misalignment) |
• |
Tax gross-ups to senior
executives |
• |
Change-in-control
arrangements |
• |
Presence of a clawback
provision, ownership guidelines, or stock holding requirements for senior
executives |
• |
While employed and/or for one
to two years following the termination of their employment;
or |
• |
For a substantial period
following the lapse of all other vesting requirements for the award, with
ratable release of a portion of the shares annually during the lock-up
period |
• |
Whether the company has any
holding period, retention ratio, or named executive officer ownership
requirements currently in place |
• |
Actual stock ownership of the
company’s named executive officers |
• |
Policies aimed at mitigating
risk taking by senior executives |
• |
Pay practices at the company
that we deem problematic |
I. |
State/Country
of Incorporation |
1. |
Voting on State Takeover
Statutes |
a. |
We vote for proposals to opt
out of state freeze-out provisions. |
b. |
We vote for proposals to opt
out of state disgorgement provisions. |
2. |
Voting on Re-incorporation
Proposals |
3. |
Control Share Acquisition
Provisions |
a. |
We vote against proposals to
amend the charter to include control share acquisition
provisions. |
b. |
We vote for proposals to opt
out of control share acquisition statutes unless doing so would enable the
completion of a takeover that would be detrimental to
shareholders. |
c. |
We vote for proposals to
restore voting rights to the control
shares. |
d. |
We vote for proposals to opt
out of control share cashout statutes. |
J. |
Mergers and
Corporate Restructuring |
K. |
Social and
Environmental Issues |
1. |
In general we vote on a
case-by-case basis on shareholder social and environmental proposals, on
the basis that their impact on share value may be difficult to quantify.
In most cases, however, we vote for disclosure reports that seek
additional information, particularly when it appears the company has not
adequately addressed shareholders' social and environmental concerns. In
determining our vote on shareholder social and environmental proposals, we
also analyze the following factors: |
a. |
whether adoption of the
proposal would have either a positive or negative impact on the company's
short-term or long-term share value; |
b. |
the percentage of sales,
assets and earnings affected; |
c. |
the degree to which the
company's stated position on the issues could affect its reputation or
sales, or leave it vulnerable to boycott or selective
purchasing; |
d. |
whether the issues presented
should be dealt with through government or company-specific
action; |
e. |
whether the company has
already responded in some appropriate manner to the request embodied in a
proposal; |
f. |
whether the company's analysis
and voting recommendation to shareholders is
persuasive; |
g. |
what other companies have done
in response to the issue; |
h. |
whether the proposal itself is
well framed and reasonable; |
i. |
whether implementation of the
proposal would achieve the objectives sought in the proposal;
and |
j. |
whether the subject of the
proposal is best left to the discretion of the
board. |
2. |
Among the social and
environmental issues to which we apply this analysis are the
following: |
a. |
Energy Efficiency and Resource
Utilization |
b. |
Environmental Impact and
Climate Change |
c. |
Human Rights and Impact on
Communities of Corporate Activities |
d. |
Equal Employment Opportunity
and Non Discrimination |
e. |
ILO Standards and Child/Slave
Labor |
f. |
Product Integrity and
Marketing |
g. |
Sustainability
Reporting |
h. |
Board
Representation |
i. |
Animal
Welfare |
L. |
Miscellaneous |
1. |
Charitable
Contributions |
• |
Does the company have a
political contributions policy publicly
available |
• |
How extensive is the
disclosure on these documents |
• |
What oversight mechanisms the
company has in place for approving/reviewing political contributions and
expenditures |
• |
Does the company provide
information on its trade association
expenditures |
• |
Total amount of political
expenditure by the company in recent
history |
3. |
Operational
Items |
a. |
We vote against proposals to
provide management with the authority to adjourn an annual or special
meeting absent compelling reasons to support the
proposal. |
b. |
We vote against proposals to
reduce quorum requirements for shareholder meetings below a majority of
the shares outstanding unless there are compelling reasons to support the
proposal. |
c. |
We vote for by-law or charter
changes that are of a housekeeping nature (updates or
corrections). |
d. |
We vote for management
proposals to change the date/time/location of the annual meeting unless
the proposed change is unreasonable. |
e. |
We vote against shareholder
proposals to change the date/time/location of the annual meeting unless
the current scheduling or location is
unreasonable. |
f. |
We vote against proposals to
approve other business when it appears as voting
item. |
4. |
Routine Agenda
Items |
• |
the opening of the shareholder
meeting |
• |
that the meeting has been
convened under local regulatory
requirements |
• |
the presence of a
quorum |
• |
the agenda for the shareholder
meeting |
• |
the election of the chair of
the meeting |
• |
regulatory filings
|
• |
the allowance of
questions |
• |
the publication of
minutes |
• |
the closing of the shareholder
meeting |
5. |
Allocation of Income and
Dividends |
6. |
Stock (Scrip) Dividend
Alternatives |
a. |
We vote for most stock (scrip)
dividend proposals. |
b. |
We vote against proposals that
do not allow for a cash option unless management demonstrates that the
cash option is harmful to shareholder
value. |
• |
a copy of these policies and
procedures; |
• |
a copy of each proxy form (as
voted); |
• |
a copy of each proxy
solicitation (including proxy statements) and related materials with
regard to each vote; |
• |
documentation relating to the
identification and resolution of conflicts of
interest; |
• |
any documents created by
ClearBridge that were material to a proxy voting decision or that
memorialized the basis for that decision; and
|
• |
a copy of each written client
request for information on how ClearBridge voted proxies on behalf of the
client, and a copy of any written response by ClearBridge to any (written
or oral) client request for information on how ClearBridge voted proxies
on behalf of the requesting client. |
• |
Los Angeles Capital reserves
the right to abstain from voting a client proxy if it concludes that the
effect on shareholders' economic interests or the value of the portfolio
holding is indeterminable or insignificant.
|
• |
Los Angeles Capital will
abstain from voting proxies for securities that participate in a
securities
lending program
and are out on loan. |
• |
Los Angeles Capital will
abstain from voting shares of securities in a country that participates in
share
blocking
because it is disruptive to the management of the portfolio.
|
• |
Los Angeles Capital may
abstain from voting shares of securities with unjustifiable
costs (e.g.,
certain non-U.S. securities).
|
• |
The firm does not actively
engage in shareholder
activism , such
as dialogue with management with respect to pending proxy voting issues.
|
• |
An auditor has a financial
interest in or association with the company and is thus not
independent, |
• |
There is evidence the
independent auditor has issued an inaccurate or misleading
opinion, |
• |
Fees for non-audit services
are excessive, |
• |
There are concerns with the
structure of the contract with the
auditors. |
• |
A shareholder approved
poison pill in place, |
• |
The company has an
acceptable policy covering the future adoption of a poison
pill. |
• |
The explicit purpose of the
increase is to implement a non-shareholder approved rights plan (poison
pill). |
• |
Equity Compensation
Plans |
• |
Director
Compensation |
• |
Employee Stock Purchase
Plans – Qualified Plans |
• |
Employee Stock Purchase
Plans – Non-Qualified Plans |
• |
Severance
Agreements |
• |
Animal
Rights |
• |
Drug Pricing and
Re-importation |
• |
Genetically Modified
Foods |
• |
Tobacco |
• |
Arctic National Wildlife
Refuge |
• |
Concentrated Area Feeding
Operations |
• |
Global Warming and Kyoto
Protocol Compliance |
• |
Political
Contributions |
• |
Outsourcing/Off-shoring |
• |
Country-specific Human
Rights Reports |
• |
Placing arbitrary
restrictions on environmental practices |
◦ |
Copies of the proxy voting
procedures and policies, and any amendments
thereto. |
◦ |
A copy of each proxy
statement received by the Firm, provided however that the Firm may rely on
obtaining a copy of proxy statements from the SEC’s EDGAR system for those
proxy statements that are so available. |
◦ |
A record of each vote that
the Firm casts. |
◦ |
A copy of any document the
Firm created that was material to making a decision how to vote proxies,
or that memorializes that decision, including the resolution of any
conflict. |
◦ |
A copy of each written
client request for information on how the Firm voted such client’s
proxies, and a copy of any written response to any (written or oral)
client request for information on how the Firm voted its
proxies. |
1) |
provides clients with a
concise summary of its proxy voting policy, which includes information
describing how clients may obtain a copy of this complete policy and
information regarding how specific proxies related to each respective
investment account are voted. Columbus Circle provides this summary to all
new clients as part of its Form ADV, Part 2 Brochure, which is available
to any clients upon request; |
2) |
applies its proxy voting
policy according to the following voting policies and keeps records of
votes for each client through Institutional Shareholder
Services; |
3) |
keeps records of proxy
voting available for inspection by each client or governmental agencies -
to both determine whether the votes were consistent with policy and to
determine all proxies were voted; |
4) |
monitors such voting for any
potential conflicts of interest and maintains systems to deal with these
issues appropriately; and |
5) |
maintains this written proxy
voting policy, which may be updated and supplemented from time to
time; |
1. |
When voting on ballot items
that are fairly common management sponsored initiatives certain items are
generally, although not always, voted
affirmatively. |
• |
"Normal" elections of
directors |
• |
Approval of
auditors/CPA |
• |
Directors' liability and
indemnification |
• |
General updating/corrective
amendments to charter |
• |
Elimination of cumulative
voting |
• |
Elimination of preemptive
rights |
2. |
When voting items that have
a potential substantive financial or best interest impact, certain items
are generally, although not always, voted
affirmatively: |
• |
Capitalization changes that
eliminate other classes of stock and voting
rights |
• |
Changes in capitalization
authorization for stock splits, stock dividends,
and |
• |
Stock purchase plans with an
exercise price of not less than 85% FMV |
• |
Stock option plans that are
incentive based and not excessive |
• |
Reductions in supermajority
vote requirements |
• |
Adoption of antigreenmail
provisions |
3. |
When voting items which have
a potential substantive financial or best interest impact, certain items
are generally not voted in support of the proposed management sponsored
initiative: |
• |
Capitalization changes that
add classes of stock that are blank check
in |
• |
Changes in capitalization
authorization where management does not offer
an |
• |
Anti-takeover and related
provisions which serve to prevent the majority
of |
• |
Amendments to bylaws that
would require super-majority shareholder
votes |
• |
Classified or single-slate
boards of directors |
• |
Reincorporation into a state
that has more stringent anti-takeover and related
|
• |
Shareholder rights plans
that allow appropriate offers to shareholders to
be |
• |
Excessive compensation or
non-salary compensation related proposals,
always |
• |
Change-in-control provisions
in non-salary compensation plans,
employment |
• |
Amending articles to relax
quorum requirements for special
resolutions |
• |
Re-election of director(s)
directly responsible for a company’s fraudulent or criminal
act |
• |
Re-election of director(s)
who holds offices of chairman and CEO |
• |
Re-election of director(s)
who serve on audit, compensation and nominating
committees |
• |
Election of directors with
service contracts of three years, which exceed best practice and any
change in control provisions |
• |
Adoption of option
plans/grants to directors or employees of related
companies |
• |
Lengthening internal
auditors’ term in office to four years |
1. |
When voting shareholder
proposals, in general, initiatives related to the following items are
supported: |
• |
Auditors should attend the
annual meeting of shareholders |
• |
Election of the board on an
annual basis |
• |
Equal access to proxy
process |
• |
Submit shareholder rights
plan poison pill to vote or redeem |
• |
Undo various anti-takeover
related provisions |
• |
Reduction or elimination of
super-majority vote requirements |
• |
Anti-greenmail
provisions |
• |
Submit audit firm
ratification to shareholder votes |
• |
Audit firm rotations every
five or more years |
• |
Requirement to expense stock
options |
• |
Establishment of holding
periods limiting executive stock sales |
• |
Report on executive
retirement benefit plans |
• |
Require two-thirds of board
to be independent |
• |
Separation of chairman and
chief executive posts |
2. |
When voting shareholder
proposals, in general, initiatives related to the following items are not
supported: |
• |
Requiring directors to own
large amounts of stock before being eligible to
be |
• |
Restoring cumulative voting
in the election of directors |
• |
Reports which are costly to
provide or which would require duplicative
efforts |
• |
Restrictions related to
social, political or special interest issues which
impact |
• |
Restrictions banning future
stock option grants to executives except in extreme
cases |
3. |
Additional shareholder
proposals require case-by-case analysis |
• |
Prohibition or restriction
of auditors from engaging in non-audit services (auditors will be voted
against if non-audit fees are greater than audit and audit-related fees,
and permitted tax fees combined) |
• |
Requirements that stock
options be performance-based |
• |
Submission of extraordinary
pension benefits for senior executives under a company’s SERP for
shareholder approval |
• |
Shareholder access to
nominate board members |
• |
Requiring offshore companies
to reincorporate into the United States |
III. |
Conflicts
of Interest |
|
Global corporate governance
& |
|
engagement
principles |
|
|
|
February
2011 |
Contents |
| |
|
| |
Introduction to
BlackRock |
3 |
|
|
| |
Philosophy on corporate
governance |
3 |
|
|
| |
Corporate governance,
engagement and voting |
4 |
|
|
| |
Boards and
directors |
4 |
|
|
| |
Accounting and
audit-related issues |
5 |
|
|
| |
Capital structure, merger,
asset sales and other special transactions |
5 |
|
|
| |
Remuneration and
benefits |
6 |
|
|
| |
Social, ethical, and
environmental issues |
6 |
|
|
| |
General corporate governance
matters |
7 |
|
|
| |
BlackRock’s oversight of its
corporate governance activities |
7 |
|
|
| |
Oversight |
7 |
|
|
| |
Vote
execution |
7 |
|
|
| |
Conflicts
management |
8 |
|
|
| |
Voting
guidelines |
9 |
|
|
| |
Reporting |
9 |
|
1 Assets under
management are approximate, as of December 31, 2010, and are subject to
change. |
* |
Boards and
directors |
* |
Accounting and audit-related
issues |
* |
Capital structure, mergers,
asset sales and other special transactions |
* |
Remuneration and
benefits |
* |
Social, ethical and
environmental issues |
* |
General corporate governance
matters |
* |
establishing an appropriate
corporate governance structure; |
* |
overseeing and supporting
management in setting strategy; |
* |
ensuring the integrity of
financial statements; |
* |
making decisions regarding
mergers, acquisitions and disposals; |
* |
establishing appropriate
executive compensation structures; and |
* |
addressing business issues
including social, ethical and environmental issues when they have the
potential to materially impact company reputation and
performance. |
* |
current employment at the
company or a subsidiary; |
* |
former employment within the
past several years as an executive of the company; |
* |
providing substantial
professional services to the company and/or members of the company’s
management; |
* |
having had a substantial
business relationship in the past three years; |
* |
having, or representing a
shareholder with, a substantial shareholding in the
company; |
* |
being an immediate family
member of any of the aforementioned; and |
* |
interlocking
directorships. |
* |
BlackRock has adopted a
proxy voting oversight structure whereby the Corporate Governance
Committees oversee the voting decisions and other activities of the Global
Corporate Governance Group, and particularly its activities with respect
to voting in the relevant region of each committee’s
jurisdiction. |
* |
The Corporate Governance
Committees have adopted Guidelines for each region, which set forth the
firm’s views with respect to certain corporate governance and other issues
that typically arise in the proxy voting context. The Corporate
Governance Committee reserves the right to review voting decisions at any
time and to make voting decisions as necessary to ensure the independence
and integrity of the voting process. In addition, the Committee
receives periodic reports regarding the specific votes cast by the
Corporate Governance Group and regular updates on material process issues,
procedural changes and other matters of concern to the
Committee. |
* |
BlackRock’s Global Corporate
Governance Committee oversees the Global Head, the Corporate Governance
Group and the Corporate Governance Committees. The Global
Corporate Governance Committee conducts a review, at least annually, of
the proxy voting process to ensure compliance with BlackRock’s risk
policies and procedures. |
* |
BlackRock maintains a
reporting structure that separates the Global Head and Corporate
Governance Group from employees with sales responsibilities. In
addition, BlackRock maintains procedures to ensure that all engagements
with corporate issuers or dissident shareholders are managed consistently
and without regard to BlackRock’s relationship with the issuer of the
proxy or dissident shareholder. Within the normal course of
business, the Global Head or Corporate Governance Group may engage
directly with BlackRock clients, and with employees with sales
responsibilities, in discussions regarding general corporate governance
policy matters, and to otherwise ensure proxy-related client service
levels are met. The Global Head or Corporate Governance Group
does not discuss any specific voting matter with a client prior to the
disclosure of the vote decision to all applicable clients after the
shareholder meeting has taken place, except if the client is acting in the
capacity as issuer of the proxy or dissident shareholder and is engaging
through the established procedures independent of the client
relationship. |
* |
In certain instances,
BlackRock may determine to engage an independent fiduciary to vote proxies
as a further safeguard to avoid potential conflicts of interest or as
otherwise required by applicable law. The independent fiduciary
may either vote such proxies, or provide BlackRock with instructions as to
how to vote such proxies. In the latter case, BlackRock votes the proxy in
accordance with the independent fiduciary’s determination. Use
of an independent fiduciary has been adopted for voting the proxies
related to any company that is affiliated with BlackRock, or any company
that includes BlackRock employees on its board of
directors. |
1. |
Operational
Items
|
2. |
Board of
Directors
|
3. |
Executive
and Director Compensation
|
4. |
Proxy
Contests and
Access |
5. |
Shareholder
Rights and Defenses
|
6. |
Mergers and
Corporate Restructurings
|
7. |
State of
Incorporation
|
8. |
Capital
Structure
|
9. |
Corporate
Social Responsibility (CSR)/Environmental, Social, Governance (ESG) Issues
|
1. |
Operational
Items |
2. |
Board of
Directors |
3. |
Compensation |
4. |
Board
Structure |
5. |
Capital
Structure |
6. |
Other |
7. |
Environmental,
Climate Change and Social
Issues |
1. |
Operational
Items |
• |
An auditor has a financial
interest in or association with the company, and is therefore not
independent; |
• |
There is reason to believe
that the independent auditor has rendered an opinion which is neither
accurate nor indicative of the company’s financial
position; |
• |
Poor accounting practices are
identified that rise to a serious level of concern, such as: fraud;
misapplication of GAAP; or material weaknesses identified in Section 404
disclosures; or |
• |
Fees for non-audit services
are excessive. |
• |
Non-audit fees exceed audit
fees + audit-related fees + tax compliance/preparation
fees. |
• |
The tenure of the audit
firm; |
• |
The length of rotation
specified in the proposal; |
• |
Any significant audit-related
issues at the company; |
• |
The number of Audit Committee
meetings held each year; |
• |
The number of financial
experts serving on the committee; |
• |
Whether the company has a
periodic renewal process where the auditor is evaluated for both audit
quality and competitive price; and |
• |
Whether the auditors are being
changed without explanation. |
• |
Inside Director
|
• |
Employee of the company or one
of its affiliates |
• |
Among the five most highly
paid individuals (excluding interim CEO) |
• |
Listed as an officer as
defined under Section 16 of the Securities and Exchange Act of 1934
|
• |
Current interim CEO
|
• |
Beneficial owner of more than
50 percent of the company's voting power (this may be aggregated if voting
power is distributed among more than one member of a defined group)
|
• |
Affiliated Outside Director
|
• |
Board attestation that an
outside director is not independent |
• |
Former CEO or other executive
of the company within the last 3 years |
• |
Former CEO or other executive
of an acquired company within the past three
years |
• |
Independent Outside Director
|
• |
No material
connection to the
company other than a board seat |
• |
Attend less than 75 percent of
the board and committee meetings without a disclosed valid excuse for each
of the last two years; |
• |
Sit on more than six public
company boards; |
• |
Are CEOs of public companies
who sit on the boards of more than two public companies besides their
own--withhold only at their outside
boards. |
• |
The inside or affiliated
outside director serves on the audit, compensation, or nominating (vote
against affiliated directors only for nominating)
committees; |
• |
The company lacks an audit
compensation, or nominating (vote against affiliated directors only for
nominating) committee so that the full board functions as that committee
and insiders are participating in voting on matters that independent
committees should be voting on; |
• |
The full board is less than
majority independent (in this case withhold from affiliated outside
directors); at controlled companies, GSAM will vote against the election
of affiliated outsiders and nominees affiliated with the parent and will
not vote against the executives of the
issuer. |
• |
Material failures of
governance, stewardship, or fiduciary responsibilities at the
company; |
• |
Egregious actions related to
the director(s)’ service on other boards that raise substantial doubt
about his or her ability to effectively oversee management and serve the
best interests of shareholders at any
company; |
• |
At the previous board
election, any director received more than 50 percent withhold/against
votes of the shares cast and the company has failed to address the
underlying issue(s) that caused the high withhold/against vote (members of
the Nominating or Governance Committees); |
• |
The board failed to act on a
shareholder proposal that received approval of the majority of shares cast
for the previous two consecutive years (a management proposal with other
than a FOR recommendation by management will not be considered as
sufficient action taken); an adopted proposal that is substantially
similar to the original shareholder proposal will be deemed
sufficient;
(vote against
members of the committee
of the board that
is responsible for the issue under consideration). If GSAM did not support
the shareholder proposal in both years, GSAM will still vote against the
committee member (s) |
• |
The non-audit fees paid to the
auditor are excessive; |
• |
The company receives an
adverse opinion on the company’s financial statements from its auditor;
or |
• |
There is persuasive evidence
that the audit committee entered into an inappropriate indemnification
agreement with its auditor that limits the ability of the company, or its
shareholders, to pursue legitimate legal recourse against the audit
firm. |
• |
The company’s poison pill has
a dead-hand or modified dead-hand feature for two or more years. Vote
against/withhold every year until this feature is removed; however, vote
against the poison pill if there is one on the ballot with this feature
rather than the director; |
• |
The board adopts or renews a
poison pill without shareholder approval, does not commit to putting it to
shareholder vote within 12 months of adoption (or in the case of an newly
public company, does not commit to put the pill to a shareholder vote
within 12 months following the IPO), or reneges on a commitment to put the
pill to a vote, and has not yet received a withhold/against recommendation
for this issue; |
• |
The board failed to act on
takeover offers where the majority of the shareholders tendered their
shares; |
• |
If in an extreme situation the
board lacks accountability and oversight, coupled with sustained poor
performance relative to peers. |
• |
Designated lead director,
elected by and from the independent board members with clearly delineated
and comprehensive duties; |
• |
Two-thirds independent
board; |
• |
All independent key
committees; or |
• |
Established, disclosed
governance guidelines. |
• |
The company has adopted
majority vote standard with a carve-out for plurality voting in situations
where there are more nominees than seats, and a director resignation
policy to address failed elections. |
• |
AGAINST Management Say on Pay
(MSOP) Proposals or; |
• |
AGAINST an equity-based
incentive plan proposal if excessive non-performance-based equity awards
are the major contributor to a pay-for-performance misalignment,
then; |
• |
If no MSOP or equity-based
incentive plan proposal item is on the ballot, AGAINST/WITHHOLD on
compensation committee members |
• |
The plan is a vehicle for poor
pay practices; |
• |
The plan expressly permits the
repricing of stock options/stock appreciation rights (SARs) without prior
shareholder approval OR does not expressly prohibit the repricing without
shareholder approval; |
• |
The CEO is a participant in
the proposed equity-based compensation plan and there is a disconnect
between CEO pay and the company’s performance where over 50 percent of the
year-over-year increase is attributed to equity awards;
|
• |
The company’s three year burn
rate and Shareholder Value Transfer (SVT) calculations both materially
exceed industry group metrics; or |
• |
There is a long-term
disconnect between CEO pay and the company’s total shareholder return in
conjunction with the qualitative overlay as outlined in the policy
guidelines OR the company has a poor record of compensation practices,
which is highlighted either in analysis of the compensation plan or the
evaluation of the election of directors. |
• |
Assessment of performance
metrics relative to business strategy, as discussed and explained in the
Compensation Discussion and Analysis (CD&A) section of a company’s
proxy; |
• |
Evaluation of peer groups used
to set target pay or award opportunities; |
• |
Alignment of long-term company
performance and executive pay trends over time;
|
• |
Assessment of disparity
between total pay of the CEO and other Named Executive Officers (NEOs).
|
• |
Balance of fixed versus
performance-driven pay; |
• |
Assessment of excessive
practices with respect to perks, severance packages, supplemental
executive pension plans, and burn rates. |
• |
Evaluation of information and
board rationale provided in CD&A about how compensation is determined
(e.g., why certain elements and pay targets are used, and specific
incentive plan goals, especially retrospective
goals); |
• |
Board
responsiveness to the majority vote outcome of previous frequency on pay
votes |
• |
Boards
responsiveness if company received 70% or less shareholder support in the
previous years MSOP vote |
• |
Abnormally
large bonus payouts without justifiable performance linkage or proper
disclosure: |
• |
Includes
performance metrics that are changed, canceled, or replaced during the
performance period without adequate explanation of the action and the link
to performance |
• |
Egregious
employment contracts |
• |
Excessive
severance and/or change in control provisions
|
• |
Repricing
or replacing of underwater stock options/stock appreciation rights without
prior shareholder approval |
• |
Excessive
Perquisites |
• |
The company fails to submit
one-time transfers of stock options to a shareholder
vote; |
• |
The company fails to fulfill
the terms of a burn rate commitment they made to shareholders;
or |
• |
The company has backdated
options. |
• |
Broad-based participation
(i.e., all employees of the company with the exclusion of individuals with
5 percent or more of beneficial ownership of the
company); |
• |
Limits on employee
contribution, which may be a fixed dollar amount or expressed as a percent
of base salary; |
• |
Company matching contribution
up to 25 percent of employee’s contribution, which is effectively a
discount of 20 percent from market value;
and |
• |
No discount on the stock price
on the date of purchase since there is a company matching
contribution. |
• |
Historic trading patterns--the
stock price should not be so volatile that the options are likely to be
back “in-the-money” over the near term; |
• |
Rationale for the
re-pricing |
• |
If it is a value-for-value
exchange |
• |
If surrendered stock options
are added back to the plan reserve |
• |
Option
vesting |
• |
Term of the option--the term
should remain the same as that of the replaced
option; |
• |
Exercise price--should be set
at fair market or a premium to market; |
• |
Participants--executive
officers and directors should be
excluded. |
• |
Whether the company has any
holding period, retention ratio, or officer ownership requirements in
place. |
4. |
Proxy
Contests and Access |
• |
Long-term financial
performance of the target company relative to its
industry; |
• |
Management’s track
record; |
• |
Background to the proxy
contest; |
• |
Qualifications of director
nominees (both slates); |
• |
Strategic plan of dissident
slate and quality of critique against
management; |
• |
Likelihood that the proposed
goals and objectives can be achieved (both
slates); |
• |
Stock ownership
positions. |
• |
The ownership thresholds,
percentage and duration proposed (GSAM will not support if the ownership
threshold is less than 3%); The maximum proportion of directors that
shareholders may nominate each year (GSAM will not support if the
proportion of directors is greater than 25%);
|
• |
The method of determining
which nominations should appear on the ballot if multiple shareholders
submit nominations |
• |
The company already gives
shareholders the right to call special meetings at a threshold of 25% or
lower; and |
• |
The company has a history of
strong governance practices. |
• |
Whether the company has been
materially harmed by shareholder litigation outside its jurisdiction of
incorporation, based on disclosure in the company's proxy statement;
|
• |
Whether the company has the
following good governance features: |
• |
An annually elected board;
|
• |
A majority vote standard in
uncontested director elections; and |
• |
The absence of a poison pill,
unless the pill was approved by shareholders.
|
• |
Past Board performance;
|
• |
The company's use of
authorized shares during the last three years;
|
• |
One- and three-year total
shareholder return; |
• |
The board's governance
structure and practices; |
• |
The current request;
|
• |
Disclosure in the proxy
statement of specific reasons for the proposed increase;
|
• |
The dilutive impact of the
request as determined through an allowable increase, which examines the
company's need for shares and total shareholder returns; and
|
• |
Risks to shareholders of not
approving the request. |
• |
Whether adoption of the
proposal is likely to enhance or protect shareholder
value; |
• |
Whether the information
requested concerns business issues that relate to a meaningful percentage
of the company’s business; |
• |
The degree to which the
company’s stated position on the issues raised in the proposal could
affect its reputation or sales, or leave it vulnerable to a boycott or
selective purchasing; |
• |
Whether the company has
already responded in some appropriate manner to the request embodied in
the proposal; |
• |
What other companies have done
in response to the issue addressed in the
proposal; |
• |
Whether the proposal itself is
well framed and the cost of preparing the report is
reasonable; |
• |
Whether the subject of the
proposal is best left to the discretion of the
board; |
• |
Whether the company has
material fines or violations in the area and if so, if appropriate actions
have already been taken to remedy going
forward; |
• |
Whether the requested
information is available to shareholders either from the company or from a
publicly available source; and |
• |
Whether providing this
information would reveal proprietary or confidential information that
would place the company at a competitive
disadvantage. |
• |
The company’s current level of
publicly-available disclosure including if the company already discloses
similar information through existing reports or policies
|
• |
If the company has formally
committed to the implementation of a reporting program based on Global
Reporting Initiative (GRI) guidelines or a similar standard within a
specified time frame; |
• |
If the company’s current level
of disclosure is comparable to that of its industry peers;
and |
• |
If there are significant
controversies, fines, penalties, or litigation associated with the
company’s environmental performance. |
• |
Overly prescriptive requests
for the reduction in GHG emissions by specific amounts or within a
specific time frame; |
• |
Whether company disclosure
lags behind industry peers; |
• |
Whether the company has been
the subject of recent, significant violations, fines, litigation, or
controversy related to GHG emissions; |
• |
The feasibility of reduction
of GHGs given the company’s product line and current technology and;
|
• |
Whether the company already
provides meaningful disclosure on GHG emissions from its products and
operations. |
• |
There are no recent,
significant controversies, fines or litigation regarding the company’s
political contributions or trade association spending;
and |
• |
The company has procedures in
place to ensure that employee contributions to company-sponsored political
action committees (PACs) are strictly voluntary and prohibits
coercion. |
• |
Recent significant controversy
or litigation related to the company’s political contributions or
governmental affairs; |
• |
The public availability of a
company policy on political contributions and trade association spending
including information on the types of organizations supported, the
business rationale for supporting these organizations, and the oversight
and compliance procedures related to such expenditures of corporate
assets; and |
• |
The degree to which existing
relevant policies and practices are
disclosed; |
• |
Whether or not existing
relevant policies are consistent with internationally recognized
standards; |
• |
Whether company facilities and
those of its suppliers are monitored and
how; |
• |
Company participation in fair
labor organizations or other internationally recognized human rights
initiatives; |
• |
Scope and nature of business
conducted in markets known to have higher risk of workplace labor/human
rights abuse; |
• |
Recent, significant company
controversies, fines, or litigation regarding human rights at the company
or its suppliers; |
• |
The scope of the request;
and |
• |
Deviation from industry sector
peer company standards and practices. |
1.
|
Operational
Items |
• |
There are serious concerns
about the accounts presented, audit procedures used or audit opinion
rendered; |
• |
There is reason to believe
that the auditor has rendered an opinion, which is neither accurate nor
indicative of the company’s financial
position; |
• |
Name of the proposed auditor
has not been published; |
• |
The auditors are being changed
without explanation; non-audit-related fees are substantial or are in
excess of standard annual audit-related fees; or the appointment of
external auditors if they have previously served the company in an
executive capacity or can otherwise be considered affiliated with the
company. |
• |
There are serious concerns
about the statutory reports presented or the audit procedures
used; |
• |
The auditors have previously
served the company in an executive capacity or can otherwise be considered
affiliated with the company. |
• |
The dividend payout ratio has
been consistently low without adequate explanation;
or |
2.
|
Board of
Directors |
• |
Specific concerns about the
individual or company, such as criminal wrongdoing or breach of fiduciary
responsibilities; |
• |
Repeated absences at board
meetings have not been explained (in countries where this information is
disclosed); or |
• |
Unless there are other
considerations which may include sanctions from government or authority,
violations of laws and regulations, or other issues related to improper
business practice, failure to replace management, or egregious actions
related to service on other boards. |
• |
Company performance relative
to its peers; |
• |
Strategy of the incumbents
versus the dissidents; |
• |
Independence of board
candidates; |
• |
Experience and skills of board
candidates; |
• |
Governance profile of the
company; |
• |
Evidence of management
entrenchment; |
• |
Responsiveness to
shareholders; |
• |
Whether a takeover offer has
been rebuffed; |
• |
Whether minority or majority
representation is being sought. |
• |
Any director who is classified
as a non-executive, but receives salary, fees, bonus, and/or other
benefits
that are in line
with the highest-paid executives of the
company. |
• |
Any director specifically
designated as a representative of a significant shareholder of the
company; |
• |
Any director who is also an
employee or executive of a significant shareholder of the
company; |
• |
Beneficial owner (direct or
indirect) of at least 10% of the company’s stock, either in economic terms
or in voting rights (this may be aggregated if voting power is distributed
among more than one member of a defined group, e.g., family members who
beneficially own less than 10% individually, but collectively own more
than 10%), unless market best practice dictates a lower ownership and/or
disclosure threshold (and in other special market-specific
circumstances); |
• |
Currently provides (or a
relative provides) professional services to the company, to an affiliate
of the company, or to an individual officer of the company or of one of
its affiliates in excess of $10,000 per
year; |
• |
Represents customer, supplier,
creditor, banker, or other entity with which company
maintains |
• |
Any director who has
conflicting or cross-directorships with executive directors or the
chairman of the company; |
• |
A new appointee elected other
than by a formal process through the General Meeting (such
|
• |
Years of service is generally
not a determining factor unless it is recommended best practice in a
market and/or in extreme circumstances, in which case it may be
considered; |
• |
Any additional relationship or
principle considered to compromise independence under local corporate
governance best practice guidance. |
• |
No material connection, either
directly or indirectly, to the company other than a board
seat. |
• |
Represents employees or
employee shareholders of the company (classified as “employee
representative” but considered a non-independent
NED). |
• |
A lack of oversight or actions
by board members which invoke shareholder distrust related
to |
• |
Any legal issues (e.g.,
civil/criminal) aiming to hold the board responsible for breach of trust
in the past or related to currently alleged actions yet to be confirmed
(and not only the fiscal year in question), such as price fixing, insider
trading, bribery, fraud, and other illegal actions;
or |
• |
Other egregious governance
issues where shareholders may bring legal action against the company or
its directors; or |
• |
Vote on a CASE-BY-CASE basis
where a vote against other agenda items are deemed inappropriate.
|
3. |
Compensation |
• |
A designated, or a rotating,
lead director, elected by and from the independent board members with
clearly delineated and comprehensive duties;
|
• |
Established, publicly
disclosed, governance guidelines and director
biographies/profiles. |
5.
|
Capital
Structure |
• |
The specific purpose of the
increase (such as a share-based acquisition or merger) does not meet
|
• |
The increase would leave the
company with less than 30 percent of its new authorization
outstanding |
• |
A repurchase limit of up to 10
percent of outstanding issued share capital (15 percent in
U.K./Ireland); |
• |
A holding limit of up to 10
percent of a company’s issued share capital in treasury (“on the shelf”);
and |
• |
Duration of no more than 5
years, or such lower threshold as may be set by applicable law,
regulation, or code of governance best practice.
|
• |
A holding limit of up to 10
percent of a company’s issued share capital in treasury (“on the shelf”);
and |
• |
Pricing provisions and
safeguards are deemed to be unreasonable in light of market
practice. |
6.
|
Other |
• |
The parties on either side of
the transaction; |
• |
The nature of the asset to be
transferred/service to be provided; |
• |
The pricing of the transaction
(and any associated professional
valuation); |
• |
The views of independent
directors (where provided); |
• |
The views of an independent
financial adviser (where appointed); |
• |
Whether any entities party to
the transaction (including advisers) is conflicted; and
|
• |
The stated rationale for the
transaction, including discussions of
timing. |
7. |
Environmental,
climate change and social issues |
GPIM Proxy Voting Policy and
Procedures 2012 Revised 10.18.12.doc
|
• |
Adopt and implement written
policies and procedures reasonably designed to ensure that the adviser
votes client securities in the best interest of clients; such policies and
procedures must address the manner in which the adviser will resolve
material conflicts of interest that can arise during the proxy voting
process; |
• |
Disclose to clients how they
may obtain information from the adviser about how the adviser voted
proxies with respect to their securities; and
|
• |
Describe to clients the
adviser’s proxy voting procedures and, upon request, furnish a copy of the
policies and procedures. |
▪ |
Refer
Proposal to the Client – GPIM may refer the
proposal to the client and obtain instructions from the client on how to
vote the proxy relating to that proposal. |
▪ |
Obtain
Client Ratification – If GPIM is in a position
to disclose the conflict to the client (i.e., such information is not
confidential), GPIM may determine how it proposes to vote the proposal on
which it has a conflict, fully disclose the nature of the conflict to the
client, and obtain the client’s consent for how GPIM will vote on the
proposal (or otherwise obtain instructions from the client on how the
proxy on the proposal should be voted). |
▪ |
Use
an Independent Third Party for All Proposals – Subject to any client
imposed proxy voting policies, GPIM may vote all proposals in a proxy
according to the policies of an independent third party (or to have the
third party vote such proxies). |
▪ |
Use
an Independent Third Party to Vote the Specific Proposals that Involve a
Conflict –
Subject to any client imposed proxy voting policies, GPIM may use an
independent third party to recommend how the proxy for specific proposals
that involve a conflict should be voted (or to have the third party vote
such proxies). |
▪ |
Abstaining |
▪ |
a copy of this
policy; |
▪ |
proxy statements received
regarding client securities; |
▪ |
records of votes cast on
behalf of clients; |
▪ |
any documents prepared by
GPIM that were material to making a decision how to vote, or that
memorialized the basis for the decision;
and |
▪ |
records of client requests
for proxy voting information and a copy of any written response by GPIM to
any client request (regardless of whether such client request was written
or oral). |
1. |
Written affirmation that all
proxies voted during the preceding calendar quarter, other than those
specifically identified by the advisor or sub-advisor, were voted in a
manner consistent with the advisor's or sub-advisor's voting policies and
procedures. In order to monitor the potential effect of conflicts of
interest of an advisor or sub-advisor, the advisor or sub-advisor will
identify any proxies the advisor or sub-advisor voted in a manner
inconsistent with its policies and procedures. The advisor or sub-advisor
shall list each such vote, explain why the advisor or sub-advisor voted in
a manner contrary to its policies and procedures, state whether the
advisor or sub-advisor’s vote was consistent with the recommendation to
the advisor or sub-advisor of a third party and, if so, identify the third
party; and |
2. |
Written notification of any
changes to the advisor's or sub-advisor's proxy voting policies and
procedures made during the preceding calendar quarter.
|
1. |
Identification of the issuer
of the security; |
2. |
Exchange ticker symbol of the
security; |
3. |
CUSIP number of the security;
|
4. |
The date of the shareholder
meeting; |
5. |
A brief description of the
subject of the vote; |
6. |
Whether the proposal was put
forward by the issuer or a shareholder; |
7. |
Whether and how the vote was
cast; |
8. |
Whether the vote was cast for
or against management of the issuer. |
• |
Operational
Issues |
• |
Board of
Directors |
• |
Proxy
Contests |
• |
Anti-takeover Defenses and
Voting Related Issues |
• |
Mergers and Corporate
Restructurings |
• |
State of
Incorporation |
• |
Capital
Structure |
• |
Executive & Director
Compensation |
▪ |
Equity Compensation
Plans |
▪ |
Specific Treatment of
Certain Award Types in Equity Plan
Evaluations |
▪ |
Other Compensation Proposals
& Policies |
▪ |
Shareholder Proposals on
Compensation |
• |
Corporate
Responsibility |
▪ |
Consumer Issues and Public
Safety |
▪ |
Environment and
Energy |
▪ |
General Corporate
Issues |
▪ |
Labor Standards and Human
Rights |
▪ |
Military
Business |
▪ |
Workplace
Diversity |
• |
Mutual Fund
Proxies |
• |
Upon timely receipt of proxy
materials, ISS will automatically release vote instructions on client’s
behalf as soon as custom research is completed. TS&W retains authority
to override the votes (before cut-off date) if disagrees with the vote
recommendation. |
• |
The Proxy Coordinator will
monitor the voting process at ISS via ISS Proxy Exchange website (ISS’s
online voting and research platform). Records of which accounts are voted,
how accounts are voted, and how many shares are voted are kept
electronically with ISS. |
• |
For proxies not received at
ISS, TS&W and ISS will make a best efforts attempt to receive ballots
from the clients’ custodian. |
• |
TS&W will be responsible
for account maintenance – opening and closing of accounts, transmission of
holdings and account environment monitoring.
|
• |
An Associate Portfolio
Manager (proxy oversight representative) will keep abreast of any critical
or exceptional events or events qualifying as a conflict of interest via
ISS Proxy Exchange website and email. TS&W has the ability to override
vote instructions and the Associate Portfolio Manager will consult with
TS&W’s Investment Policy Committee or product managers in these types
of situations. |
• |
All client requests for
information regarding proxy votes, or policies and procedures, received by
any associate should be forwarded to the Proxy
Coordinator(s). |
• |
In response to any request,
the Proxy Coordinator(s) will prepare a written response to the client
with the information requested, and as applicable, will include the name
of the issuer, the proposal voted upon, and how TS&W voted the
client’s proxy with respect to each proposal about which the client
inquired. |
• |
TS&W has a fiduciary
responsibility under ERISA to vote ERISA Plan proxies unless the Plan
directs otherwise. TS&W will vote proxies when directed by non-ERISA
clients. In the absence of specific voting guidelines from the client and
upon timely receipt of proxy materials from the custodian, ISS will vote
proxies in the best interests of each particular client. ISS’s policy is
to vote all proxies from a specific issuer the same way for each client,
absent qualifying restrictions from a client. Clients are permitted to
place reasonable restrictions on TS&W's voting authority in the same
manner that they may place such restrictions on the actual selection of
account securities. |
• |
ISS will generally vote in
favor of routine corporate housekeeping proposals such as the election of
directors and selection of auditors absent conflicts of interest raised by
auditors' non-audit services. |
• |
ISS will generally vote
against proposals that cause board members to become entrenched, reduce
shareholder control over management or in some way diminish shareholders’
present or future value. |
• |
In reviewing proposals, ISS
will further consider the opinion of management and the effect on
management, and the effect on shareholder value and the issuer’s business
practices. |
• |
A complete summary of ISS’s
US and International voting guidelines is available at: http://www.issgovernance.com/policy/2011/policy_information |
• |
TS&W will identify any
conflicts that exist between the interests of the adviser and each
client by reviewing the relationship of TS&W with the issuer of each
security to determine if TS&W or any of its associates has any
financial, business or personal relationship with the issuer.
|
• |
If a material conflict of
interest exists, the CCO will instruct ISS to vote using ISS’s standard
policy guidelines which are derived independently from TS&W.
|
• |
TS&W will maintain a
record of the voting resolution of any conflict of
interest. |
• |
Limited Value: Where
TS&W has concluded that to do so would have no identifiable economic
benefit to the client-shareholder; |
• |
Unjustifiable Cost: When the
costs of or disadvantages resulting from voting, in TS&W’s judgment,
outweigh the economic benefits of voting; |
• |
Securities Lending: If
securities are on loan at the record date, the client lending the security
cannot vote the proxy. Because TS&W generally is not aware of when a
security may be on loan, it does not have the opportunity to recall the
security prior to the record date; and |
• |
Failure to receive proxy
statements: TS&W may not be able to vote proxies in connection with
certain holdings, most frequently for foreign securities, if it does not
receive the account’s proxy statement in time to vote the
proxy. |
• |
These policies and
procedures and any amendments; |
• |
Each proxy statement that
ISS receives; |
• |
A record of each vote that
ISS casts on behalf of TS&W; |
• |
Any document ISS created
that was material to making a decision how to vote proxies, or that
memorializes that decision; and |
• |
A copy of each written
request from a client for information on how ISS voted such client’s
proxies, and a copy of any written
response. |
1. |
Vote the securities in
accordance with the recommendations of an independent third party, such as
ISS; |
2. |
Refer the proxy to the
advisory client or to a fiduciary of the advisory client for voting
purposes; |
3. |
Suggest that the advisory
client engage another party to determine how the proxy should be voted; or
|
4. |
Disclose the conflict to the
advisory client and obtain the advisory client’s direction to vote the
proxies. |
• |
a copy of the proxy voting
policies and procedures; |
• |
a copy of all proxy statements
received (Baird may rely on a third party or the SEC’s EDGAR system to
satisfy this requirement); |
• |
a record of each vote cast on
behalf of a advisory client (Baird may rely on a third party to satisfy
this requirement); |
• |
a copy of any document
prepared by Baird that was material to making a voting decision or that
memorializes the basis for that decision; and
|
• |
a copy of each written
advisory client request for information on how Baird voted proxies on the
advisory client’s behalf, and a copy of any written response to any
advisory client request (written or oral) for information on how proxies
were voted on behalf of the requesting advisory client.
|
1. |
Vote the securities in
accordance with a pre-determined policy based upon the recommendations of
an independent third party, such as ISS; |
2. |
Refer the proxy to the client
or to a fiduciary of the client for voting purposes;
|
3. |
Suggest that the client engage
another party to determine how the proxy should be
voted; |
4. |
Ask the Committee to determine
the nature and materiality of the conflict and vote the proxy in a manner
the Committee believes is in the best interests of the client (or, in the
case of a Fund, the Fund’s shareholders) without consideration of any
benefit to the Advisor or its affiliates;
or |
5. |
Disclose the conflict to the
client or, with respect to the Funds, the Fund’s Board of Directors (or
its delegate) and obtain the client’s or Board’s direction to vote the
proxies. |
• |
a copy of our proxy voting
policies and procedures; |
• |
a copy of all proxy statements
received (the Advisor may rely on a third party or the SEC’s EDGAR system
to satisfy this requirement); |
• |
a record of each vote cast on
behalf of a client (the Advisor may rely on a third party to satisfy this
requirement); |
• |
a copy of any document
prepared by the Advisor that was material to making a voting decision or
that memorializes the basis for that decision; and
|
• |
a copy of each written client
request for information on how we voted proxies on the client’s behalf,
and a copy of any written response to any (written or oral) client request
for information on how we voted proxies on behalf of the requesting
client. |
1. |
Vote the securities in
accordance with a pre-determined policy based upon the recommendations of
an independent third party, such as ISS; |
2. |
Refer the proxy to the client
or to a fiduciary of the client for voting purposes;
|
3. |
Suggest that the client engage
another party to determine how the proxy should be
voted; |
4. |
Ask the Committee to determine
the nature and materiality of the conflict and vote the proxy in a manner
the Committee believes is in the best interests of the client (or, in the
case of a Fund, the Fund’s shareholders) without consideration of any
benefit to the Advisor or its affiliates;
or |
5. |
Disclose the conflict to the
client or, with respect to the Funds, the Fund’s Board of Directors (or
its delegate) and obtain the client’s or Board’s direction to vote the
proxies. |
• |
a copy of our proxy voting
policies and procedures; |
• |
a copy of all proxy statements
received (the Advisor may rely on a third party or the SEC’s EDGAR system
to satisfy this requirement); |
• |
a record of each vote cast on
behalf of a client (the Advisor may rely on a third party to satisfy this
requirement); |
• |
a copy of any document
prepared by the Advisor that was material to making a voting decision or
that memorializes the basis for that decision; and
|
• |
a copy of each written client
request for information on how we voted proxies on the client’s behalf,
and a copy of any written response to any (written or oral) client request
for information on how we voted proxies on behalf of the requesting
client. |
I. |
Introduction |
II. |
General |
a. |
Because of the unique nature
of the Master Limited Partnerships (“MLPs”), the Adviser shall evaluate
each proxy of an MLP on a case-by-case basis. Because proxies
of MLPs are expected to relate only to extraordinary measures, the Adviser
does not believe it is prudent to adopt pre-established voting
guidelines. |
b. |
In the event requests
for proxies are received with respect to the voting of equity securities
other than MLP equity units, on routine matters, such as election of
directors or approval of auditors, the proxies usually will be voted with
management unless the Adviser determines it has a conflict or the Adviser
determines there are other reasons not to vote with
management. On non-routine matters, such as amendments to
governing instruments, proposals relating to compensation and stock option
and equity compensation plans, corporate governance proposals and
shareholder proposals, the Adviser will vote, or abstain from voting if
deemed appropriate, on a case by case basis in a manner it believes to be
in the best economic interest of its clients, and registered investment
company clients’ shareholders. In the event requests for
proxies are received with respect to debt securities, the Adviser will
vote on a case by case basis in a manner it believes to be in the best
economic interest of its clients, and registered investment company
clients’ shareholders. |
c. |
The Investment Committee of
the Adviser, or a Manager of the Adviser designated by the Investment
Committee as listed on Exhibit A hereto, is responsible for monitoring
Adviser’s proxy voting actions and ensuring that (i) proxies are
received and forwarded to the appropriate decision makers; and
(ii) proxies are voted in a timely manner upon receipt of voting
instructions. The Adviser is not responsible for voting proxies
it does not receive, but will make reasonable efforts to obtain missing
proxies. |
d. |
The Investment Committee of
the Adviser, or a Manager of the Adviser designated by the Investment
Committee as listed on Exhibit A hereto, shall implement procedures to
identify and monitor potential conflicts of interest that could affect the
proxy voting process, including (i) significant client relationships; (ii)
other potential material business relationships; and (iii) material
personal and family relationships. |
e. |
All decisions regarding
proxy voting shall be determined by the Investment Committee of the
Adviser, or a Manager of the Adviser designated by the Investment
Committee, and shall be executed by a Manager of the Adviser or, if the
proxy may be voted electronically, electronically voted by a Manager of
the Adviser or his designee, including any of the individuals listed on
Exhibit A hereto. Every effort shall be made to consult with the portfolio
manager and/or analyst covering the
security. |
f. |
The Adviser may determine
not to vote a particular proxy, if the costs and burdens exceed the
benefits of voting (e.g., when securities are subject to loan or to share
blocking restrictions). |
3. |
Conflicts
of Interest |
• |
A principal of the Adviser
or any person involved in the proxy decision-making process currently
serves on the Board of the portfolio
company. |
• |
An immediate family member
of a principal of the Adviser or any person involved in the proxy
decision-making process currently serves as a director or executive
officer of the portfolio company. |
• |
The Adviser, any venture
capital fund managed by the Adviser, or any affiliate holds a significant
ownership interest in the portfolio
company. |
4. |
Recordkeeping |
• |
proxy voting policies and
procedures; |
• |
proxy statements (provided,
however, that the Adviser may rely on the Securities and Exchange
Commission’s EDGAR system if the issuer filed its proxy statements via
EDGAR or may rely on a third party as long as the third party has provided
the Adviser with an undertaking to provide a copy of the proxy statement
promptly upon request); |
• |
records of votes cast and
abstentions; and |
• |
any records prepared by the
Adviser that were material to a proxy voting decision or that memorialized
a decision. |
• |
The Advisers do not maintain
a written proxy voting policy as required by Rule
206(4)-6. |
• |
Proxies are not voted in
Clients’ best interests. |
• |
Proxies are not identified
and voted in a timely manner. |
• |
Conflicts between the
Advisers’ interests and the Client are not identified; therefore, proxies
are not voted appropriately. |
• |
The third-party proxy voting
services utilized by the Advisers are not
independent. |
• |
Proxy voting records and
Client requests to review proxy votes are not
maintained. |
1. |
The requesting PM Team to
set forth the reasons for their decision;
|
2. |
The approval of the lead
Portfolio Manager for the requesting PM
Team; |
3. |
Notification to the Proxy
Voting Coordinator and other appropriate personnel (including other
PGI/PrinREI Portfolio Managers who may own the particular security);
|
4. |
A determination that the
decision is not influenced by any conflict of interest;
and |
5. |
The creation of a written
record reflecting the process (See Appendix
XXXI).
|
1
The
Advisers have various Portfolio Manager Teams organized by asset classes
and investment
strategies. |
• |
Restrictions for share
blocking countries;2 |
• |
Casting a vote on a foreign
security may require that the adviser engage a
translator; |
• |
Restrictions on foreigners’
ability to exercise votes; |
• |
Requirements to vote proxies
in person; |
• |
Requirements to provide
local agents with power of attorney to facilitate the voting
instructions; |
• |
Untimely notice of
shareholder meeting; |
• |
Restrictions on the sale of
securities for a period of time in proximity to the shareholder
meeting. |
2
In
certain markets where share blocking occurs, shares must be “frozen” for
trading purposes at the custodian or sub-custodian in order to vote.
During the time that shares are blocked, any pending trades will not
settle. Depending on the market, this period can last from one day to
three weeks. Any sales that must be executed will settle late and
potentially be subject to interest charges or other punitive
fees. |
• |
Any request, whether written
(including e-mail) or oral, received by any Employee of the Advisers, must
be promptly reported to the Proxy Voting Coordinator. All written requests
must be retained in the Client’s permanent
file. |
• |
The Proxy Voting Coordinator
will record the identity of the Client, the date of the request, and the
disposition (e.g., provided a written or oral response to Client’s
request, referred to third party, not a proxy voting client, other
dispositions, etc.) in a suitable place. |
• |
The Proxy Voting Coordinator
will furnish the information requested to the Client within a reasonable
time period (generally within 10 business days). The Advisers will
maintain a copy of the written record provided in response to Client’s
written (including e-mail) or oral request. A copy of the written response
should be attached and maintained with the Client’s written request, if
applicable and maintained in the permanent file.
|
• |
Clients are permitted to
request the proxy voting record for the 5 year period prior to their
request. |
• |
Upon inadvertent receipt of
a proxy, the Advisers will generally forward to ISS for voting, unless the
client has instructed otherwise. |
• |
The Advisers’ proxy voting
record is maintained by ISS. The Advisers’ Proxy Voting Coordinator, with
the assistance of the Investment Accounting and SMA Operations
Departments, will periodically ensure that ISS has complete, accurate, and
current records of Clients who have instructed the Advisers to vote
proxies on their behalf. |
• |
The Advisers will maintain
documentation to support the decision to vote against the ISS
recommendation. |
• |
The Advisers will maintain
documentation or notes or any communications received from third parties,
other industry analysts, third party service providers, company’s
management discussions, etc. that were material in the basis for the
decision. |
Revised 12/2011 ♦ Supersedes
12/2010 |
• |
An auditor has a financial
interest in or association with the company, and is therefore not
independent; |
• |
There is reason to believe
that the independent auditor has rendered an opinion that is neither
accurate nor indicative of the company’s financial
position; |
• |
Poor accounting practices
are identified that rise to a serious level of concern, such as: fraud;
misapplication of GAAP; and material weaknesses identified in Section 404
disclosures; or |
• |
Fees for non-audit services
(“Other” fees) are excessive. |
• |
Non-audit (“other”) fees
>audit fees + audit-related fees + tax compliance/preparation
fees |
1. |
Board
Accountability |
2. |
Board
Responsiveness |
3. |
Director
Independence |
4. |
Director
Competence |
1. |
Board
Accountability |
1.1. |
The board is classified, and
a continuing director responsible for a problematic governance issue at
the board/committee level that would warrant a withhold/against vote
recommendation is not up for election. All appropriate nominees (except
new) may be held accountable. |
1.2. |
The board lacks
accountability and oversight, coupled with sustained poor performance
relative to peers. Sustained poor performance is measured by one- and
three-year total shareholder returns in the bottom half of a company’s
four-digit GICS industry group (Russell 3000 companies only). Take into
consideration the company’s five-year total shareholder return and
operational metrics. Problematic provisions include but are not limited
to: |
• |
A classified board
structure; |
• |
A supermajority vote
requirement; |
• |
Either a plurality vote
standard in uncontested director elections or a majority vote standard
with no plurality carve-out for contested
elections; |
• |
The inability of
shareholders to call special meetings; |
• |
The inability of
shareholders to act by written consent; |
• |
A dual-class capital
structure; and/or |
• |
A non–shareholder-approved
poison pill. |
1.3. |
The company’s poison pill
has a “dead-hand” or “modified dead-hand” feature. Vote AGAINST or
WITHHOLD from nominees every year until this feature is
removed; |
1.4. |
The board adopts a poison
pill with a term of more than 12 months (“long-term pill”), or renews any
existing pill, including any “short-term” pill (12 months or less),
without shareholder approval. A commitment or policy that puts a newly
adopted pill to a binding shareholder vote may potentially offset an
adverse vote recommendation. Review such companies with classified boards
every year, and such companies with annually elected boards at least once
every three years, and vote AGAINST or WITHHOLD votes from all nominees if
the company still maintains a non-shareholder-approved poison pill;
or |
1.5. |
The board makes a material
adverse change to an existing poison pill without shareholder approval.
|
1.6. |
The board adopts a poison
pill with a term of 12 months or less (“short-term pill”) without
shareholder approval, taking into account the following factors:
|
• |
The date of the pill‘s
adoption relative to the date of the next meeting of
shareholders—i.e. whether the company had
time to put the pill on ballot for shareholder ratification given the
circumstances; |
• |
The issuer’s rationale;
|
• |
The issuer’s governance
structure and practices; and |
• |
The issuer’s track record of
accountability to shareholders. |
1.7. |
The non-audit fees paid to
the auditor are excessive (see discussion under “Auditor
Ratification”); |
1.8. |
The company receives an
adverse opinion on the company’s financial statements from its auditor; or
|
1.9. |
There is persuasive evidence
that the Audit Committee entered into an inappropriate indemnification
agreement with its auditor that limits the ability of the company, or its
shareholders, to pursue legitimate legal recourse against the audit
firm. |
1.10. |
Poor accounting practices
are identified that rise to a level of serious concern, such as: fraud;
misapplication of GAAP; and material weaknesses identified in Section 404
disclosures. Examine the severity, breadth, chronological sequence and
duration, as well as the company’s efforts at remediation or corrective
actions, in determining whether WITHHOLD/AGAINST votes are
warranted. |
1.11. |
There is a significant
misalignment between CEO pay and company performance (pay
for performance); |
1.12. |
The company maintains
significant problematic
pay practices; |
1.13. |
The board exhibits a
significant level of poor
communication and responsiveness to
shareholders; |
1.14. |
The company fails to submit
one-time transfers
of stock options to a shareholder vote;
or |
1.15. |
The company fails to fulfill
the terms of a burn
rate commitment made to shareholders.
|
1.16. |
The company's previous
say-on-pay proposal received the support of less than 70 percent of votes
cast, taking into account: |
• |
The company's response,
including: |
• |
Disclosure of engagement
efforts with major institutional investors regarding the issues that
contributed to the low level of support; |
• |
Specific actions taken to
address the issues that contributed to the low level of support;
|
• |
Other recent compensation
actions taken by the company; |
• |
Whether the issues raised
are recurring or isolated; |
• |
The company's ownership
structure; and |
• |
Whether the support level
was less than 50 percent, which would warrant the highest degree of
responsiveness. |
1.17. |
Material failures of
governance, stewardship, risk oversight3, or fiduciary
responsibilities at the company; |
1.18. |
Failure to replace
management as appropriate; or |
1.19. |
Egregious actions related to
a director’s service on other boards that raise substantial doubt about
his or her ability to effectively oversee management and serve the best
interests of shareholders at any company. |
2. |
Board
Responsiveness |
2.1. |
For 2013, the board failed
to act4 on a shareholder proposal
that received the support of a majority of the shares outstanding the
previous year; |
• |
The subject matter of the
proposal; |
• |
The level of support and
opposition provided to the resolution in past
meetings; |
• |
Disclosed outreach efforts by
the board to shareholders in the wake of the
vote; |
• |
Actions taken by the board in
response to its engagement with
shareholders; |
• |
The continuation of the
underlying issue as a voting item on the ballot (as either
shareholder or management proposals);
and |
• |
Other factors as
appropriate. |
2.2. |
For 2013, the board failed
to act on a shareholder proposal that received the support of a majority
of shares cast in the last year and one of the two previous
years; |
2.3. |
For 2014, the board failed
to act on a shareholder proposal that received the support of a majority
of the shares cast in the previous year; |
2.4. |
The board failed to act on
takeover offers where the majority of shares are tendered;
|
2.5. |
At the previous board
election, any director received more than 50 percent withhold/against
votes of the shares cast and the company has failed to address the
issue(s) that caused the high withhold/against vote;
or |
2.6. |
The board implements an
advisory vote on executive compensation on a less frequent basis than the
frequency that received the majority of votes cast at the most recent
shareholder meeting at which shareholders voted on the say-on-pay
frequency. |
2.7. |
The board implements an
advisory vote on executive compensation on a less frequent basis than the
frequency that received a plurality, but not a majority, of the votes cast
at the most recent shareholder meeting at which shareholders voted on the
say-on-pay frequency, taking into
account: |
• |
The board's rationale for
selecting a frequency that is different from the frequency that received a
plurality; |
• |
The company's ownership
structure and vote results; |
• |
ISS' analysis of whether
there are compensation concerns or a history of problematic compensation
practices; and |
• |
The previous year's support
level on the company's say-on-pay
proposal. |
3. |
Director
Independence |
3.1. |
The inside or affiliated
outside director serves on any of the three key committees: audit,
compensation, or nominating; |
3.2. |
The company lacks an audit,
compensation, or nominating committee so that the full board functions as
that committee; |
3.3. |
The company lacks a formal
nominating committee, even if the board attests that the independent
directors fulfill the functions of such a committee; or
|
3.4. |
Independent directors make
up less than a majority of the directors. |
4. |
Director
Competence |
4.1. |
Generally vote AGAINST or
WITHHOLD from directors (except new nominees, who should be considered
CASE-BY-CASE5) who attend less than 75
percent of the aggregate of their board and committee meetings for the
period for which they served, unless an acceptable reason for absences is
disclosed in the proxy or another SEC filing. Acceptable reasons for
director absences are generally limited to the
following: |
• |
Medical
issues/illness; |
• |
Family emergencies;
and |
• |
Missing only one meeting
(when the total of all meetings is three or
fewer). |
4.2. |
If the proxy disclosure is
unclear and insufficient to determine whether a director attended at least
75 percent of the aggregate of his/her board and committee meetings during
his/her period of service, vote AGAINST or WITHHOLD from the director(s)
in question. |
4.3. |
Sit on more than six public
company boards; or |
4.4. |
Are CEOs of public companies
who sit on the boards of more than two public companies besides their
own—withhold only at their outside boards6. |
• |
Company-specific factors;
and |
• |
Proposal-specific factors,
including: |
o |
The ownership thresholds
proposed in the resolution (i.e., percentage and
duration); |
o |
The maximum proportion of
directors that shareholders may nominate each year;
and |
o |
The method of determining
which nominations should appear on the ballot if multiple shareholders
submit nominations. |
• |
Long-term financial
performance of the target company relative to its
industry; |
• |
Management’s track
record; |
• |
Background to the proxy
contest; |
• |
Qualifications of director
nominees (both slates); |
• |
Strategic plan of dissident
slate and quality of critique against
management; |
• |
Likelihood that the proposed
goals and objectives can be achieved (both
slates); |
• |
Stock ownership
positions. |
• |
No lower than a 20% trigger,
flip-in or flip-over; |
• |
A term of no more than three
years; |
• |
No dead-hand, slow-hand,
no-hand or similar feature that limits the ability of a future board to
redeem the pill; |
• |
Shareholder redemption
feature (qualifying offer clause); if the board refuses to redeem the pill
90 days after a qualifying offer is announced, 10 percent of the shares
may call a special meeting or seek a written consent to vote on rescinding
the pill. |
• |
The ownership threshold to
transfer (NOL pills generally have a trigger slightly below 5 percent);
|
• |
The value of the NOLs;
|
• |
Shareholder protection
mechanisms (sunset provision, or commitment to cause expiration of the
pill upon exhaustion or expiration of NOLs);
|
• |
The company's existing
governance structure including: board independence, existing takeover
defenses, track record of responsiveness to shareholders, and any other
problematic governance concerns; and |
• |
Any other factors that may
be applicable. |
• |
Shareholders' current right
to act by written consent; |
• |
The consent threshold;
|
• |
The inclusion of
exclusionary or prohibitive language; |
• |
Investor ownership
structure; and |
• |
Shareholder support of, and
management's response to, previous shareholder
proposals. |
• |
An unfettered7 right for shareholders to
call special meetings at a 10 percent
threshold; |
• |
A majority vote standard in
uncontested director elections; |
• |
No non-shareholder-approved
pill; and |
• |
An annually elected board.
|
• |
Past Board
Performance: |
• |
The company's use of
authorized shares during the last three
years |
• |
The Current
Request: |
• |
Disclosure in the proxy
statement of the specific purposes of the proposed
increase; |
• |
Disclosure in the proxy
statement of specific and severe risks to shareholders of not approving
the request; and |
• |
The dilutive impact of the
request as determined by an allowable increase calculated by ISS
(typically 100 percent of existing authorized shares) that reflects the
company's need for shares and total shareholder
returns. |
• |
The company discloses a
compelling rationale for the dual-class capital structure, such
as: |
• |
The company's auditor has
concluded that there is substantial doubt about the company's ability to
continue as a going concern; or |
• |
The new class of shares will
be transitory; |
• |
The new class is intended
for financing purposes with minimal or no dilution to current shareholders
in both the short term and long term; and |
• |
The new class is not
designed to preserve or increase the voting power of an insider or
significant shareholder. |
• |
Past Board
Performance: |
• |
The company's use of
authorized preferred shares during the last three
years; |
• |
The Current
Request: |
• |
Disclosure in the proxy
statement of the specific purposes for the proposed
increase; |
• |
Disclosure in the proxy
statement of specific and severe risks to shareholders of not approving
the request; |
• |
In cases where the company
has existing authorized preferred stock, the dilutive impact of the
request as determined by an allowable increase calculated by ISS
(typically 100 percent of existing authorized shares) that reflects the
company's need for shares and total shareholder returns;
and |
• |
Whether the shares requested
are blank check preferred shares that can be used for antitakeover
purposes. |
• |
Valuation - Is the value to be
received by the target shareholders (or paid by the acquirer) reasonable?
While the fairness opinion may provide an initial starting point for
assessing valuation reasonableness, emphasis is placed on the offer
premium, market reaction and strategic rationale.
|
• |
Market
reaction - How
has the market responded to the proposed deal? A negative market reaction
should cause closer scrutiny of a deal. |
• |
Strategic
rationale -
Does the deal make sense strategically? From where is the value derived?
Cost and revenue synergies should not be overly aggressive or optimistic,
but reasonably achievable. Management should also have a favorable track
record of successful integration of historical acquisitions.
|
• |
Negotiations
and process -
Were the terms of the transaction negotiated at arm's-length? Was the
process fair and equitable? A fair process helps to ensure the best price
for shareholders. Significant negotiation "wins" can also signify the deal
makers' competency. The comprehensiveness of the sales process
(e.g., full auction, partial
auction, no auction) can also affect shareholder value.
|
• |
Conflicts
of interest -
Are insiders benefiting from the transaction disproportionately and
inappropriately as compared to non-insider shareholders? As the result of
potential conflicts, the directors and officers of the company may be more
likely to vote to approve a merger than if they did not hold these
interests. Consider whether these interests may have influenced these
directors and officers to support or recommend the merger. The CIC figure
presented in the "ISS Transaction Summary" section of this report is an
aggregate figure that can in certain cases be a misleading indicator of
the true value transfer from shareholders to insiders. Where such figure
appears to be excessive, analyze the underlying assumptions to determine
whether a potential conflict exists. |
• |
Governance - Will the combined company
have a better or worse governance profile than the current governance
profiles of the respective parties to the transaction? If the governance
profile is to change for the worse, the burden is on the company to prove
that other issues (such as valuation) outweigh any deterioration in
governance. |
1. |
Maintain appropriate
pay-for-performance alignment, with emphasis on long-term shareholder
value: This principle encompasses overall executive pay practices, which
must be designed to attract, retain, and appropriately motivate the key
employees who drive shareholder value creation over the long term. It will
take into consideration, among other factors, the link between pay and
performance; the mix between fixed and variable pay; performance goals;
and equity-based plan costs; |
2. |
Avoid arrangements that risk
“pay for failure”: This principle addresses the appropriateness of long or
indefinite contracts, excessive severance packages, and guaranteed
compensation; |
3. |
Maintain an independent and
effective compensation committee: This principle promotes oversight of
executive pay programs by directors with appropriate skills, knowledge,
experience, and a sound process for compensation decision-making
(e.g., including access to
independent expertise and advice when
needed); |
4. |
Provide shareholders with
clear, comprehensive compensation disclosures: This principle underscores
the importance of informative and timely disclosures that enable
shareholders to evaluate executive pay practices fully and
fairly; |
5. |
Avoid inappropriate pay to
non-executive directors: This principle recognizes the interests of
shareholders in ensuring that compensation to outside directors does not
compromise their independence and ability to make appropriate judgments in
overseeing managers’ pay and performance. At the market level, it may
incorporate a variety of generally accepted best
practices. |
• |
There is a significant
misalignment between CEO pay and company performance (pay
for performance); |
• |
The company maintains
significant problematic pay practices; |
• |
The board exhibits a
significant level of poor communication and responsiveness to
shareholders. |
• |
There is no MSOP on the
ballot, and an AGAINST vote on an MSOP is warranted due to pay for
performance misalignment, problematic pay practices, or the lack of
adequate responsiveness on compensation issues raised previously, or a
combination thereof; |
• |
The board fails to respond
adequately to a previous MSOP proposal that received less than 70 percent
support of votes cast; |
• |
The company has recently
practiced or approved problematic pay practices, including option
repricing or option backdating; or |
• |
The situation is
egregious. |
• |
A pay for performance
misalignment is found, and a significant portion of the CEO’s misaligned
pay is attributed to non-performance-based equity awards, taking into
consideration: |
o |
Magnitude of pay
misalignment; |
o |
Contribution of
non-performance-based equity grants to overall pay;
and |
o |
The proportion of equity
awards granted in the last three fiscal years concentrated at the named
executive officer (NEO) level. |
1. |
Peer Group8
Alignment: |
• |
The degree of alignment
between the company's TSR rank and the CEO's total pay rank within a peer
group, as measured over one-year and three-year periods (weighted 40/60);
|
• |
The multiple of the CEO's
total pay relative to the peer group median.
|
2. |
Absolute Alignment – the
absolute alignment between the trend in CEO pay and company TSR over the
prior five fiscal years – i.e., the difference between the trend in annual
pay changes and the trend in annualized TSR during the
period. |
• |
The ratio of performance- to
time-based equity awards; |
• |
The overall ratio of
performance-based compensation; |
• |
The completeness of
disclosure and rigor of performance
goals; |
• |
The company's peer group
benchmarking practices; |
• |
Actual results of
financial/operational metrics, such as growth in revenue, profit, cash
flow, etc., both absolute and relative to
peers; |
• |
Special circumstances
related to, for example, a new CEO in the prior FY or anomalous equity
grant practices (e.g., bi-annual awards);
|
• |
Realizable pay compared to
grant pay; and |
• |
Any other factors deemed
relevant. |
• |
Problematic practices
related to non-performance-based compensation
elements; |
• |
Incentives that may motivate
excessive risk-taking; and |
• |
Options
Backdating. |
• |
Repricing or replacing of
underwater stock options/SARS without prior shareholder approval
(including cash buyouts and voluntary surrender of underwater
options); |
• |
Excessive perquisites or tax
gross-ups, including any gross-up related to a secular trust or restricted
stock vesting; |
• |
New or extended agreements
that provide for: |
• |
CIC payments exceeding 3
times base salary and average/target/most recent bonus;
|
• |
CIC severance payments
without involuntary job loss or substantial diminution of duties ("single"
or "modified single" triggers); |
• |
CIC payments with excise tax
gross-ups (including "modified"
gross-ups). |
• |
Multi-year guaranteed
bonuses; |
• |
A single or common
performance metric used for short- and long-term plans;
|
• |
Lucrative severance
packages; |
• |
High pay opportunities
relative to industry peers; |
• |
Disproportionate
supplemental pensions; or |
• |
Mega annual equity grants
that provide unlimited upside with no downside
risk. |
• |
Reason and motive for the
options backdating issue, such as inadvertent vs. deliberate grant date
changes; |
• |
Duration of options
backdating; |
• |
Size of restatement due to
options backdating; |
• |
Corrective actions taken by
the board or compensation committee, such as canceling or re-pricing
backdated options, the recouping of option gains on backdated grants; and
|
• |
Adoption of a grant policy
that prohibits backdating, and creates a fixed grant schedule or window
period for equity grants in the future. |
• |
Failure to respond to
majority-supported shareholder proposals on executive pay topics;
or |
• |
Failure to adequately
respond to the company's previous say-on-pay proposal that received the
support of less than 70 percent of votes cast, taking into account:
|
◦ |
The company's response,
including: |
▪ |
Disclosure of engagement
efforts with major institutional investors regarding the issues that
contributed to the low level of support; |
▪ |
Specific actions taken to
address the issues that contributed to the low level of support;
|
▪ |
Other recent compensation
actions taken by the company; |
◦ |
Whether the issues raised
are recurring or isolated; |
◦ |
The company's ownership
structure; and |
◦ |
Whether the support level
was less than 50 percent, which would warrant the highest degree of
responsiveness. |
• |
Single- or
modified-single-trigger cash severance; |
• |
Single-trigger acceleration
of unvested equity awards; |
• |
Excessive cash severance
(>3x base salary and bonus); |
• |
Excise tax gross-ups
triggered and payable (as opposed to a provision to provide excise tax
gross-ups); |
• |
Excessive golden parachute
payments (on an absolute basis or as a percentage of transaction equity
value); or |
• |
Recent amendments that
incorporate any problematic features (such as those above) or recent
actions (such as extraordinary equity grants) that may make packages so
attractive as to influence merger agreements that may not be in the best
interests of shareholders; or |
• |
The company's assertion that
a proposed transaction is conditioned on shareholder approval of the
golden parachute advisory vote. |
• |
The total cost of the
company’s equity plans is unreasonable; |
• |
The plan expressly permits
repricing; |
• |
A pay-for-performance
misalignment is found; |
• |
The company’s three year
burn rate exceeds the burn rate cap of its industry
group; |
• |
The plan has a liberal
change-of-control definition; or |
• |
The plan is a vehicle for
problematic pay practices. |
• |
If the issues presented in
the proposal are more appropriately or effectively dealt with through
legislation or government regulation; |
• |
If the company has already
responded in an appropriate and sufficient manner to the issue(s) raised
in the proposal; |
• |
Whether the proposal's
request is unduly burdensome (scope, timeframe, or cost) or overly
prescriptive; |
• |
The company's approach
compared with any industry standard practices for addressing the issue(s)
raised by the proposal; |
• |
If the proposal requests
increased disclosure or greater transparency, whether or not reasonable
and sufficient information is currently available to shareholders from the
company or from other publicly available sources; and
|
• |
If the proposal requests
increased disclosure or greater transparency, whether or not
implementation would reveal proprietary or confidential information that
could place the company at a competitive
disadvantage. |
• |
There are no recent,
significant controversies, fines or litigation regarding the company’s
political contributions or trade association spending;
and |
• |
The company has procedures
in place to ensure that employee contributions to company-sponsored
political action committees (PACs) are strictly voluntary and prohibit
coercion. |
• |
The company's current
disclosure of policies and oversight mechanisms related to its direct
political contributions and payments to trade associations or other groups
that may be used for political purposes, including information on the
types of organizations supported and the business rationale for supporting
these organizations; and |
• |
Recent significant
controversies, fines, or litigation related to the company's political
contributions or political activities. |
• |
The company’s current
disclosure of relevant policies and oversight mechanisms;
|
• |
Recent significant
controversies, fines, or litigation regarding the company’s
lobbying-related activities; and |
• |
The impact that the public
policy issues in question may have on the company’s business operations,
if specific public policy issues are
addressed. |
1.
|
Identification
of Material Conflicts of Interest |
a) |
In
General. PIMCO has
a fiduciary obligation to vote all client proxies in good faith and in the
best interests of the client. Conflicts of interest, however, may, or may
appear to, interfere with PIMCO’s ability to vote proxies in accordance
with this fiduciary standard. Actual or potential conflicts of interest
when PIMCO votes client proxies could arise in many ways, such as (i) if
PIMCO has a material business relationship with the issuer to which the
proxy relates; (ii) if a credit analyst assigned to recommend how to vote
a fixed income proxy or a PM responsible for voting proxies has a material
personal or business relationship with the issuer; (iii) if PIMCO clients
have divergent interests in the proxy vote; and (iv) if the PM voting a
proxy becomes aware of a material business relationship between the issuer
and a PIMCO affiliate before voting. |
b) |
Equity
Securities.2 PIMCO has
retained an Industry Service Provider (“ISP”)3 to provide
recommendations on how to vote proxies with respect to Equity Securities.
PIMCO will follow the recommendations of the ISP unless: (i) the ISP is
unable to vote a proxy (such as if the ISP has a disabling conflict of
interest); or (ii) a PM decides to override the ISP’s voting
recommendation. In either such case as described below, the Legal and
Compliance department will review the proxy to determine whether a
material conflict of interest, or the appearance of one, exists. Each PM
has a duty to disclose to the Legal and Compliance department any
potential, actual or apparent material conflict of interest known to the
PM relating to a proxy vote in relation to an equity security (whether the
proxy will be voted by the ISP or PIMCO). If no potential, actual or
apparent material conflict of interest is identified by, or disclosed to,
the Legal and Compliance department, the proxy may be voted by the
responsible PM in good faith and in the best interests of the
client. |
c) |
Fixed
Income Securities. PIMCO’s
Credit Research Group is responsible for issuing recommendations on how to
vote proxies and consents (collectively referred to herein as proxies)
with respect to fixed income securities. Each member of the Credit
Research Group assigned to issue a voting recommendation has a duty to
disclose to the Legal and Compliance department any such potential, actual
or apparent material conflict of interest known to such person relating to
that voting recommendation. If no such potential, actual or apparent
material conflict of interest is disclosed to the Legal and Compliance
department, the Credit Research Group may issue a recommendation as to how
to vote the proxy. If such a potential, actual or apparent material
conflict is disclosed to the Legal and Compliance department, it will be
resolved either by applying: (i) the policies and procedures set forth
herein; (ii) a protocol previously established by the Conflicts Committee;
(iii) a direct decision of the Conflicts Committee; or (iv) such other
procedure(s) approved by the Legal and Compliance department. See Section
B.2 below. |
2.
|
Resolution
of Identified Conflicts of Interest |
a) |
Equity
Securities Voted by ISP. The ISP,
an independent research and voting service, makes voting recommendations
for proxies relating to equity securities in accordance with ISP’s
guidelines which have been adopted by PIMCO (“ISP Guidelines”). PIMCO has
determined to follow the ISP Guidelines. By following the guidelines of an
independent third party, PIMCO intends to eliminate any conflict of
interest PIMCO may have with respect to proxies covered by the
ISP. |
b) |
Fixed
Income Securities. By
following the recommendations of the Credit Research Group, PIMCO intends
to eliminate any conflict of interest that might arise if a PM voted a
fixed income proxy for a client account. |
c) |
All
Securities Not Voted Pursuant to a recommendation of the ISP or Credit
Research Group. The
following applies to: (i) proxies received in relation to securities for
which the ISP or the Credit Research Group (as applicable) is unable to
provide recommendations on how to vote; and (ii) proxies for which, as
described below, a PM determines to override the ISP’s or Credit Research
Group’s (as applicable) voting recommendation. In each case, such proxy
will be reviewed by the Legal and Compliance department to determine
whether a material conflict of interest, or the appearance of one, exists
with respect to the voting of such proxy by the responsible PM. If no such
material conflict of interest (or appearance of one) is identified by, or
disclosed to, the Legal and Compliance department, the proxy will be voted
by the responsible PM in good faith and in the best interest of the
client. |
d) |
Methods
for Resolving Identified Conflicts of Interest. |
1) |
Conflicting
Client Interests. Where the
conflict at issue has arisen because PIMCO clients have divergent
interests, the applicable PM or another PM may vote the proxy as
follows: |
• |
If the
conflict exists between the accounts of one or more PMs on the one hand,
and accounts of one or more different PMs on the other, each PM (if the
conflict does not also exist among the PM’s accounts) will vote on behalf
of his or her accounts in such accounts’ best
interests. |
• |
If the
conflict exists among the accounts of a PM, such PM shall notify the Legal
and Compliance department and the head of the PM’s desk (or such PM’s
manager, if different). The desk head or manager of such PM will then
designate another PM without a conflict to vote on behalf of those
accounts. |
2) |
Direct
Resolution by the Conflicts Committee. When a
conflict is brought to the Conflicts Committee for direct resolution, the
Conflicts Committee will seek to mitigate the actual or apparent conflict
in the best interest of clients by, for
example: |
• |
Permitting
the applicable PM to vote after receiving the consent of the client after
providing notice and disclosure of the conflict to that client;
or |
• |
Voting the
proxy in accordance with the recommendation of, or delegating the vote to,
an independent third-party service provider;
or |
• |
Having the
client direct the vote (and, if deemed appropriate by the Conflicts
Committee, suggesting that the client engage another party to assist the
client in determining how the proxy should be
voted). |
• |
The extent
and nature of the actual or apparent conflict of
interest; |
• |
If the
client is a fund, whether it has an independent body (such as a board of
directors) that is willing to give direction to
PIMCO; |
• |
The nature
of the relationship of the issuer with PIMCO (if
any); |
• |
Whether
there has been any attempt to directly or indirectly influence PIMCO’s
voting decision; and |
• |
Whether the
direction of the proposed vote would appear to benefit PIMCO, a related
party or another PIMCO client. |
3) |
The
Conflicts Committee Protocol. To permit
the more efficient resolution of conflicts of interest, the Conflicts
Committee may establish a protocol (the “Conflicts Committee Protocol”)
that directs the methods of resolution for specific types of conflicts,
provided that such methods comply with Section B.2. Once a protocol has
been established for a certain type of conflict, unless otherwise approved
in writing by the Legal and Compliance department, all conflicts of that
type will be resolved pursuant to the protocol, subject to the Conflict
Committee’s ability to rescind or amend such
protocol. |
e) |
Investments
by Clients in Affiliated Funds. Conflicts
of interest with respect to the voting of proxies may also arise when
PIMCO-managed separate accounts, funds or other collective investment
vehicles are shareholders of PIMCO-affiliated funds that are the subject
of proxies. PIMCO will vote client proxies relating to a PIMCO-affiliated
fund in accordance with the offering or other disclosure documents for the
PIMCO-managed separate account, fund or other investment vehicle holding
shares of the PIMCO-affiliated fund. Where such documents are silent on
the issue, PIMCO will vote client proxies relating to a PIMCO-affiliated
fund by “echoing” or “mirroring” the vote of the other shareholders in the
underlying funds or by applying the conflicts resolution procedures set
forth in Section B.2. |
f) |
Information
Barriers. To reduce
the occurrence of actual or apparent conflicts of interest, PIMCO and
PIMCO’s agents are prohibited from disclosing information regarding
PIMCO’s voting intentions to any affiliate other than PIMCO-named
affiliates. |
1.
|
Proxy
Voting Process: Equity Securities |
a) |
The
Role of the ISP. PIMCO has
selected the ISP to assist it in researching and voting proxies. The ISP
researches the financial implications of proxy proposals and assists
institutional investors with casting votes in a manner intended to protect
and enhance shareholder returns, consistent with the particular guidelines
of the institutional investor. PIMCO utilizes the research and analytical
services, operational implementation and recordkeeping and reporting
services provided by the ISP with respect to proxies relating to equity
securities. |
b) |
Overrides
of ISP’s Recommendations. |
1) |
Portfolio
Manager Review. Each PM is
responsible for reviewing proxies relating to equity securities and
determining whether to accept or reject the recommendation of the ISP, in
accordance with the best interests of the client. If a PM determines that
overriding the recommendation of the ISP would be in the best interests of
the client based on all the facts and circumstances, the PM, with the
assistance of the Operations Group, as appropriate, must prepare or
arrange for the preparation of a report (the “Override Report”) containing
the information set forth below and any other information the PM and the
Legal and Compliance department deem
relevant: |
• |
Name and
ticker symbol of issuer; |
• |
Percentage
of the outstanding shares of the issuer
held; |
• |
The name(s)
of the fund(s) or account(s) holding the
securities; |
• |
A summary of
the proposal; |
• |
The date of
the shareholder meeting and the response
deadline; |
• |
Whether the
proposal is being made by management or a
shareholder; |
• |
Management’s
recommendation with respect to the
proposal; |
• |
The ISP
recommendation with respect to the
proposal; |
• |
The
reasoning behind the PM’s decision to recommend the
override; |
• |
Whether the
PM is aware of any actual or apparent conflict of interest with respect to
the issuer or proponent of the proposal (see Section B above). The PM
should explain any such actual or apparent conflicts;
and |
• |
Whether the
PM has been contacted by an outside party regarding the
vote. |
2) |
Compliance
Review. The Legal
and Compliance department will review the Override Report to determine
whether an actual or apparent conflict of interest exists with respect to
the vote. If the Legal and Compliance department determines that no such
conflict of interest exists, the PM’s recommendation will be implemented.
If the Legal and Compliance department determines that such a conflict of
interest exists, the conflict will be resolved in accordance with the
policies described above in Section B.2 of these Policies and Procedures.
In no event will PIMCO abstain from a vote solely to avoid a conflict of
interest. |
3) |
Override. If the
result of this process is a decision to vote differently than proposed by
the ISP, the PM, with the assistance of the Operations Group, will inform
the ISP of the voting decision for implementation by the
ISP. |
c) |
When
the ISP Does Not Provide a Recommendation. In certain
circumstances, the ISP, as a result of technical or other difficulties,
may be unable to provide a recommendation with respect to a client proxy.
Where the ISP is unable to provide a recommendation for an equity security
proxy, PIMCO shall vote such proxy in accordance with Section
C.3. |
2.
|
Proxy
Voting Process: Fixed Income Securities |
a) |
The
Role of the Credit Research Group. The Credit
Research Group is responsible for researching and issuing proxy voting
recommendations with respect to fixed income securities. The Credit
Research Group researches the financial implications of proxy proposals
and makes voting recommendations specific for each account that holds the
related fixed income security. |
b) |
Overrides
of the Credit Research Group’s Recommendations. |
1) |
Portfolio
Manager Review. Each PM is
responsible for reviewing proxies relating to fixed income securities and
determining whether to accept or reject the recommendation of the Credit
Research Group, in accordance with the best interests of the client. If a
PM determines that overriding the recommendation of the Credit Research
Group would be in the best interests of the client based on all the facts
and circumstances, the PM, with the assistance of the Operations Group, as
appropriate, must prepare or arrange for the preparation of an Override
Report containing the information set forth below and any other
information the PM and the Legal and Compliance department deem
relevant: |
• |
Name and
ticker symbol of issuer; |
• |
Percentages
of the outstanding securities (equity and fixed income) of the issuer
held; |
• |
The name(s)
of the fund(s) or account(s) holding the
securities; |
• |
A summary of
the proposal; |
• |
The date of
the security holder meeting and the response
deadline; |
• |
Whether the
proposal is being made by management or a security
holder; |
• |
Management’s
recommendation with respect to the
proposal; |
• |
The Credit
Research Group recommendation with respect to the
proposal; |
• |
The
reasoning behind the PM’s decision to recommend the
override; |
• |
Whether the
PM is aware of any actual or apparent conflict of interest with respect to
the issuer or proponent of the proposal (see Section B above). The PM
should explain any such actual or apparent conflicts;
and |
• |
Whether the
PM has been contacted by an outside party regarding the
vote. |
2) |
Compliance
Review. The Legal
and Compliance department will review the Override Report to determine
whether an actual or apparent conflict of interest exists with respect to
the vote. If the Legal and Compliance department determines that no such
conflict of interest exists, the PM’s recommendation will be implemented.
If the Legal and Compliance department determines that such a conflict of
interest exists, the conflict will be resolved in accordance with the
policies described above in Section B.2 of these Policies and Procedures.
In no event will PIMCO abstain from a vote solely to avoid a conflict of
interest. |
3) |
Override. If the
result of this process is a decision to vote differently than proposed by
the Credit Research Group, the Operations Group will manually cast such
vote. |
c) |
When
the Credit Research Group Does Not Provide a Recommendation. In certain
circumstances, the Credit Research Group, as a result of conflicts or
other reasons, may be unable to provide a recommendation with respect to a
client proxy. Where the Credit Research Group is unable to provide a
recommendation for a fixed income security proxy, PIMCO shall vote such
proxy in accordance with Section C.3. |
a) |
Identify
and Seek to Resolve any Material Conflicts of Interest. As
described in Section B.1, PIMCO’s Legal and Compliance department will
review each OS Proxy to determine whether PIMCO may have an actual or
apparent material conflict of interest in voting. If no such conflict is
identified, the Legal and Compliance department will forward each OS Proxy
to PIMCO Operations, which will coordinate consideration of such proxy by
the appropriate PM(s). However, if such a conflict is identified, the
Legal and Compliance department will, in accordance with Section B.2
above, resolve such conflict: (i) by applying the policies and procedures
set forth herein; (ii) pursuant to a protocol previously established by
the Conflicts Committee; (iii) if no such protocol is applicable to the
conflict at hand, elevate such conflict to the Conflicts Committee for
direct resolution; or (iv) by applying such other procedure(s) approved by
the Legal and Compliance department. |
b) |
Vote. (i) Where
no material conflict of interest is identified, the PM will review the
proxy information, vote the OS Proxy in accordance with these policies and
procedures and return the voted OS Proxy to PIMCO Operations; (ii) Where a
material conflict of interest is identified, the OS Proxy will be voted in
accordance with the conflict resolution procedures in Section B.2 and the
voted OS Proxy will be returned to PIMCO
Operations. |
c) |
Review. PIMCO
Operations will review for proper completion each OS Proxy that was
submitted to it. PIMCO Operations will forward the voted OS Proxy to the
ballot collection agency with the decision as to how it should be voted.
|
d) |
Transmittal
to Third Parties. PIMCO
Operations will document the decision for each OS Proxy received in a
format designated by the ballot collection agency or other third party
service provider. PIMCO Operations will maintain a log of all OS Proxy
voting, which indicates, among other things, the date the notice was
received and verified, PIMCO’s response, the date and time the custodian
bank or other third party service provider was notified, the expiration
date and any action taken. |
e) |
Recordkeeping. PIMCO
Operations will log the proxy voting results into the ISP application for
all manual ballots. |
4.
|
Abstentions |
5.
|
Proxies
Relating to Securities on Loan |
▪ |
Issues regarding Board
entrenchment and anti‐takeover measures such as the following:
|
▪ |
Proposals to stagger board
members’ terms; |
▪ |
Proposals to limit the
ability of shareholders to call special meetings;
|
▪ |
Proposals to require super
majority votes; |
▪ |
Proposals requesting
excessive increases in authorized common or preferred shares where
management provides no explanation for the use or need of these additional
shares; |
▪ |
Proposals regarding “fair
price” provisions; |
▪ |
Proposals regarding “poison
pill” provisions; and |
▪ |
Permitting “green mail.”
|
▪ |
Providing cumulative voting
rights. |
▪ |
Election of directors
recommended by management, except if there is a proxy fight.
|
▪ |
Election of auditors
recommended by management, unless seeking to replace if there exists a
dispute over policies. |
▪ |
Date and place of annual
meeting. |
▪ |
Rotation of annual meeting
place. |
▪ |
Limitation on charitable
contributions or fees paid to lawyers. |
▪ |
Ratification of directors’
actions on routine matters since previous annual meeting.
|
▪ |
Confidential voting.
|
▪ |
Limiting directors’
liability. |
▪ |
Proposals to:
|
▪ |
Pay directors solely in
stock. |
▪ |
Eliminate director mandatory
retirement policy. |
▪ |
Mandatory retirement age for
directors. |
▪ |
Rotate annual meeting
location/date. |
▪ |
Option and stock grants to
management and directors. |
▪ |
Allowing indemnification of
directors and/or officers after reviewing the applicable state laws and
extent of protection requested. |
• |
for investment fund clients
of DDJ that have established an independent board of advisors, DDJ will
disclose the conflict to such board of advisers of the applicable
investment fund, and either vote the proxy as instructed by the applicable
board or obtain a waiver for DDJ to vote the
proxy; |
• |
for investment fund clients
of DDJ that have not established a board of advisors, DDJ will disclose
the conflict (a) to such fund's independent accountants or another
unaffiliated third party advisor selected by DDJ, and vote the proxy in
accordance with the instructions of such proxy advisor, or (b) to the
underlying investors (e.g., limited partners) of such investment fund and
seek either voting instructions or a waiver of the conflict directly from
a majority in interest with respect to such
investors; |
• |
for any commingled vehicle
established as a trust, DDJ will disclose the conflict to the trustee of
such entity (provided that the trustee is unaffiliated with DDJ), and seek
either voting instructions or a waiver of the conflict from such
trustee; |
• |
for ERISA accounts, DDJ will
disclose the conflict to the plan sponsor, trustee or other named
fiduciary for the plan and seek either voting instructions or a waiver of
the conflict from such fiduciary; and |
• |
for other non-ERISA separate
accounts, DDJ will disclose the conflict to the underlying client and seek
either voting instructions or a waiver of the conflict directly from such
client. |
(i) |
a copy of DDJ's internal
policies and procedures with respect to proxy voting, as updated from time
to time; |
(ii) |
copies of proxy statements
received regarding securities held in client accounts, unless the
materials are available electronically through the SEC's EDGAR
system; |
(iv) |
a copy of any internal
documents created by DDJ that were material to making the decision how to
vote proxies on behalf of its clients;
and |
(v) |
each written client request
for proxy voting records and DDJ's written response to any (written or
oral) client request for such records. |
• |
long-term corporate
performance record of the company's stock relative to a market index;
and |
• |
evaluation of what each side
is offering shareholders, as well as the likelihood that the proposed
objectives and goals can be met; and |
• |
stock ownership positions of
director nominees. |
III. |
Auditors
Ratifying Auditors |
a) |
Adopt and implement written
policies and procedures that are reasonably designed to ensure that client
securities are voted in the client’s best interest and to address
procedures to be undertaken in the event a material conflict arises
between the firm’s interest and that of our clients as to how a particular
security or proxy issue is voted; |
b) |
Disclose to clients how they
may obtain information regarding how the firm voted with respect to the
client’s securities; and |
c) |
Describe the firm’s policies
and procedures to clients and, upon request, furnish a copy of the
policies and procedures to the requesting
client. |
• |
If the proposal that gives
rise to an actual or potential conflict is specifically addressed in the
Guideline, the firm may vote the proxy in accordance with the
pre-determined Guideline; provided that the pre-determined Guideline
involves little or no discretion on the firm’s part;
or |
• |
The firm may follow the
recommendations of RiskMetrics, an independent third party, as to how the
proxy should be voted. |
• |
Mutual Funds – where voting
may be controlled by restrictions within the fund or the actions of
authorized persons |
• |
International Securities –
where the perceived benefit of voting an international proxy does not
outweigh the anticipated costs of doing
so |
• |
New Accounts – instances
where security holdings assumed will be sold in the near term thereby
limiting any benefit to be obtained by a vote of proxy
material |
• |
Unsupervised Securities –
where the firm does not have a basis on which to offer
advice |
• |
Unjustifiable Costs – where
the firm may abstain from voting a client proxy in a specific instance if,
in our good faith determination, the costs involved in voting such proxy
cannot be justified (e.g. total client holdings less than 10,000 shares
and not held by a mutual fund; costs associated with obtaining
translations of relevant proxy materials for non-U.S. securities) in light
of the benefits to the client of voting. In accordance with the firm’s
fiduciary duties, the firm shall, in appropriate cases, weigh the costs
and benefits of voting proxy proposals and shall make an informed decision
with respect to whether voting a given proxy proposal is prudent. The
decision will take into account the effect that the vote, either by itself
or together with other votes, is expected to have on the value of client’s
investment and whether this expected effect would outweigh the cost of
voting. |
• |
Securities out on
loan |
• |
ERISA accounts – with
respect to ERISA clients for whom we have accepted the responsibility for
proxy voting, we vote proxies in accordance with our duty of loyalty and
prudence, compliance with the plan documents, and the firm’s duty to avoid
prohibited transactions. |
1. |
Review and update the firm’s
policies and procedures as necessary. |
2. |
Coordinate the review and
update of the firm’s proxy voting guidelines by the investment committee
or its designee. |
3. |
Consult with and coordinate
the voting of proxies with the appropriate portfolio manager as
needed. |
1. |
New clients will receive a
copy of the “Description of Proxy Voting Policies and Procedures” as part
of information provided in connection with the firm’s New Client
Checklist. |
2. |
At the time a contract is
entered into a determination will be made as to whether the client will
retain proxy voting responsibilities. A
separate acknowledgement will be obtained where the client elects to
retain proxy voting responsibilities. |
3. |
The PA will arrange for
client proxy material to be forwarded to RiskMetrics for
voting. |
1. |
The PA uploads a file each
day (on a settlement date basis) detailing all the securities held on
behalf of our clients for which we own more than 10,000 shares to
RiskMetrics. |
2. |
RiskMetrics is responsible
for matching the proxy material received with this listing and following
up with any custodian that has not forwarded proxies within a reasonable
time. |
3. |
Through web access and the
RiskMetrics software the PA is able to determine for each security its
record date, meeting date and whether RiskMetrics has completed proxy
research on the security. |
4. |
The PA will download the
RiskMetrics proxy research for each security along with a copy of the
voting form and forward the package to the
CI. |
5. |
The CI will make a
determination as to whether a material conflict exists with regard to the
proxy or an individual proxy issue. The results of this determination will
be documented and initialed on the proxy voting
form. |
6. |
The CI will review the proxy
issues against the firm’s Guideline and cast each vote on the voting form,
if able, and sign off on having voted those
issues. |
a) |
If all issues were able to
be voted within the Guideline the package will be returned to the PA for
online voting. |
b) |
If issues exist for which a
case-by-case review must be made the package is forwarded to the
appropriate manager. The manager will review the information.
|
c) |
within the package and any
other necessary information in order to formulate the vote to be cast. The
rationale for any departures from the firm’s Guideline will be documented
within the package. All votes will be indicated on the voting form and the
manager will sign off as to having voted those issues. The package will
then be returned to the PA for voting. |
d) |
As described under
“Conflicts of Interests”, where a material conflict exists the firm may
vote the issue 1) in accordance with the Guideline if the application of
such policy to the issue at hand involves little or no discretion on the
part of the firm, or |
7. |
Through the software
interface with RiskMetrics the PA will indicate, review and submit our
vote on individual securities. The PA is able to re-submit our vote up
until the day before the meeting which can accommodate cases where new
information may come to light. |
8. |
RiskMetrics will then
process the vote with the issuer on behalf of the
firm. |
1. |
A copy of the proxy voting
policies and procedures – CI |
2. |
Client
acknowledgement indicating the client’s election to retain proxy voting
responsibilities -- PA |
3. |
Proxy statements received on
client securities – PA, RiskMetrics,
Edgar |
4. |
Record of vote cast for each
client – RiskMetrics, PA |
5. |
Internal voting package and
any document created that was material to the decision or to a departure
from the Guideline – PA |
6. |
Each written request for
proxy voting information (policy or votes cast) and the firm’s written
response to any client request for such records – PA,
CI |
DATE: |
March 23,
2011 |
TO: |
All Portfolio
Managers |
FROM: |
Richard
Faig |
RE: |
Updated Summary
of Proxy Voting Guidelines |
Vote with
Mgmt. |
Vote For |
Vote Against |
Discuss with
Mgr. | ||||||
Directors |
|||||||||
Ÿ |
Voting on director nominees
in uncontested elections |
x |
|||||||
Ÿ |
Chairman and CEO can be the
same person |
x |
|||||||
Ÿ |
Majority of directors must
be independent |
x |
|||||||
Ÿ |
Minimum stock ownership
requirements |
x |
|||||||
Ÿ |
Term of
office |
x |
|||||||
Ÿ |
D&O indemnification and
liability protection |
x |
|||||||
Ÿ |
Director nominees in
contested elections |
x | |||||||
Ÿ |
Reimburse dissident proxy
solicitation expenses |
x | |||||||
Ratifying
Auditors |
x |
||||||||
Charitable
Contributions - proposals to
limit |
x |
||||||||
Proxy
Contest Defenses |
|||||||||
Ÿ |
Efforts to further the
annual election of directors |
x |
|||||||
Ÿ |
Efforts that allow director
removal w/ or w/o cause |
x |
|||||||
Ÿ |
Efforts that allow director
removal w/ or w/o cause |
x |
|||||||
Ÿ |
Efforts to permit cumulative
voting |
x |
|||||||
Ÿ |
Efforts to allow
shareholders to call special meetings |
x |
|||||||
Ÿ |
Efforts to allow shareholder
action by written consent |
x |
|||||||
Ÿ |
Fixed size of
Board |
x |
|||||||
Tender
Offer Defenses |
|||||||||
Ÿ |
Poison Pills |
x |
|||||||
Ÿ |
Fair Price Provisions - no
more than simple majority req'd. |
x |
|||||||
Ÿ |
Anti-Greenmail |
x |
|||||||
Ÿ |
Anti-Greenmail bundled with
other provisions |
x | |||||||
Ÿ |
Pale Greenmail with
restructuring |
x | |||||||
Ÿ |
Dual class exchange offers
or recapitalizations |
x |
|||||||
Ÿ |
Supermajority Vote
Requirement to amend Charter or Bylaws |
x |
|||||||
Ÿ |
Supermajority Vote
Requirement to approve mergers |
x |
|||||||
Ÿ |
Shareholder approval of
preferred issues other than general |
x |
|||||||
Confidential
Voting |
x |
||||||||
Significant
Shareholder Access to Management Proxy Material |
x |
||||||||
Shareholder
Advisory Committees |
x |
Vote with
Mgmt. |
Vote For |
Vote Against |
Discuss with
Mgr. | ||||||
Capital
Structure |
|||||||||
Ÿ |
Increase common stock
authorized |
x | |||||||
Ÿ |
Increase common stock
authorized more than 100% |
x | |||||||
Ÿ |
Splits and reverse splits
|
x |
|||||||
Ÿ |
Blank Check Preferred stock
not used for defense |
x |
|||||||
Ÿ |
New class of Unspecified
Preferred Stock |
x |
|||||||
Ÿ |
Increase in authorized Blank
Check Preferred |
x | |||||||
Ÿ |
Reduce Par Value of
stock |
x |
|||||||
Ÿ |
Shareholder proposals for
Preemptive Rights |
x | |||||||
Ÿ |
Debt
Restructurings |
x | |||||||
Ÿ |
Open market share
repurchases |
x |
|||||||
Executive
and Director Compensation (Generally
vote with
management;
review with manager if management and RMG split.) |
|||||||||
Ÿ |
Additional disclosure of
compensation |
x |
|||||||
Ÿ |
Limitations on executive and
director compensation |
x |
|||||||
Ÿ |
Golden Parachutes require
shareholder ratification |
x |
|||||||
Ÿ |
Non-binding shareholder
ratification of executive |
x | |||||||
officer
compensation |
|||||||||
Ÿ |
Advisory vote on say-on-pay
frequency |
|
x | ||||||
Ÿ |
Approval of extraordinary
transaction executive compensation |
x | |||||||
Ÿ |
ESOPs implementation or
increase require shareholder |
x |
|||||||
Ÿ |
401(k) Plans |
x |
|||||||
Ÿ |
Stock Incentive /
Compensation plan origination or |
x |
|||||||
Efforts
to Include the Cost of Stock Options in
Expenses |
x |
||||||||
State of
Incorporation |
|||||||||
Ÿ |
Opt in state takeover
statutes |
x |
|||||||
Ÿ |
Opt out state takeover
statutes |
x |
|||||||
Ÿ |
Change state of
incorporation |
x | |||||||
Mergers
and Restructurings |
|||||||||
Ÿ |
Mergers and
acquisitions |
x | |||||||
Ÿ |
Restructurings |
x | |||||||
Ÿ |
Spin-offs |
x |
Vote with
Mgmt. |
Vote For |
Vote Against |
Discuss with
Mgr. | ||||||
Ÿ |
Asset Sales |
x | |||||||
Ÿ |
Liquidations |
x | |||||||
Ÿ |
Shareholder Appraisal Rights
(right to require an appraisal) |
x |
|||||||
Ÿ |
Change in corporate
name |
x |
|||||||
Open-ended
approval of “Other Business Coming Before the Meeting |
x |
||||||||
Mutual
Fund Proxies - (Generally vote for
except on changes to
Fundamental
Investment Restrictions or proposals to hire/fire Managers, which should
be discussed |
|||||||||
Social
and Environmental Issues (vote for additional
disclosures) |
|||||||||
Ÿ |
Energy and
Environment |
x |
|||||||
Ÿ |
Conducting business in
politically sensitive regions |
x |
|||||||
Ÿ |
Military
issues |
x |
|||||||
Ÿ |
Maquiladora and
international operating standards |
x |
|||||||
Ÿ |
EEOC |
x |
|||||||
Ÿ |
Animal
rights |
x |
|||||||
Ÿ |
Product integrity and
marketing |
x |
|||||||
Ÿ |
Human resource
issues |
x |
|||||||
Ÿ |
Sustainability
reporting |
x |
• |
The requesting Portfolio
Manager must put forth, in writing, the reasons for their decision;
|
• |
The approval of Principal’s
Chief Investment Officer; |
• |
Notification to the Proxy
Voting Coordinator and other appropriate personnel (including PGI
Portfolio Managers whose clients may own the particular security);
|
• |
A determination that the
decision is not influenced by any conflict of interest; and
|
• |
The creation of a written
record reflecting the process. |
• |
Restrictions for share
blocking countries;1
|
• |
Casting a vote on a foreign
security may require that Principal engage a translator;
|
• |
Restrictions on foreigners’
ability to exercise votes; |
• |
Requirements to vote proxies
in person; |
• |
Requirements to provide local
agents with power of attorney to facilitate the voting instructions;
|
• |
Untimely notice of shareholder
meeting; |
• |
Restrictions on the sale of
securities for a period of time in proximity to the shareholder meeting.
|
• |
Client request to review proxy
votes: |
◦ |
Any request, whether written
(including e- mail) or oral, received by any Employee of Principal, must be
promptly reported to the Proxy Voting Coordinator. All written requests
must be retained in the client’s permanent
file. |
◦ |
The Proxy Voting Coordinator
will record the identity of the client, the date of the request, and the
disposition (e.g., provided a written or oral response to client’s
request, referred to third-party, not a proxy voting client, other
dispositions, etc.) in a suitable place. |
◦ |
The Proxy Voting Coordinator
will furnish the information requested to the client within a reasonable
time period (generally within 10 business days). Principal will maintain a
copy of the written record provided in response to client’s written
(including e-mail) or oral request. A copy of the written response should
be attached and maintained with the client’s written request, if
applicable and maintained in the permanent file.
|
◦ |
Clients are permitted to
request the proxy voting record for the 5 year period prior to their
request. |
• |
Proxy statements received
regarding client securities: |
◦ |
Upon inadvertent receipt of a
proxy, Principal will generally forward to ISS for voting, unless the
client has instructed otherwise. |
◦ |
Note: Principal is permitted
to rely on proxy statements filed on the SEC’s EDGAR system instead of
keeping their own copies. |
• |
Proxy voting records:
|
◦ |
Principals’ proxy voting
record is maintained by ISS. The Proxy Voting Coordinator, with the
assistance of the Client Services Department, will periodically ensure
that ISS has complete, accurate, and current records.
|
◦ |
Principal will maintain
documentation to support the decision to vote against ISS recommendation.
|
◦ |
Principal will maintain
documentation or notes or any communications received from third-parties,
other industry analysts, third-party service providers, company’s
management discussions, etc. that were material in the basis for the
decision. |
1. |
BACKGROUND
|
• |
The underlying advisory
agreement entered into with the client expressly provides that the Adviser
shall be responsible to vote proxies received in connection with the
client’s account; or |
• |
The underlying advisory
agreement entered into with the client is silent as to whether or not the
Adviser shall be responsible to vote proxies received in connection with
the client’s account and the Adviser has discretionary
authority over investment decisions for the client’s account;
or |
• |
In case of an employee benefit
plan, the client (or any plan trustee or other fiduciary) has
not reserved the
power to vote proxies in either the underlying advisory agreement entered
into with the client or in the client’s plan
documents. |
2. |
PROXY
VOTING POLICIES
|
A. |
Specific
Voting Policies
|
1. |
Routine
Items: |
• |
The Adviser will generally
vote for the election of directors (where no corporate governance issues
are implicated). |
• |
The Adviser will generally
vote for the selection of independent
auditors. |
• |
The Adviser will generally
vote for increases in or reclassification of common
stock. |
• |
The Adviser will generally
vote for management recommendations adding or amending indemnification
provisions in charter or by-laws. |
• |
The Adviser will generally
vote for changes in the board of
directors. |
• |
The Adviser will generally
vote for outside director compensation. |
• |
The Adviser will generally
vote for proposals that maintain or strengthen the shared interests of
shareholders and management |
• |
The Adviser will generally
vote for proposals that increase shareholder
value |
• |
The Adviser will generally
vote for proposals that will maintain or increase shareholder influence
over the issuer's board of directors and
management |
• |
The Adviser will generally
vote for proposals that maintain or increase the rights of
shareholders |
2. |
Non-Routine and Conflict of
Interest Items: |
• |
The Adviser will generally
vote for management proposals for merger or reorganization if the
transaction appears to offer fair value. |
• |
The Adviser will generally
vote against shareholder resolutions that consider only non-financial
impacts of mergers |
• |
The Adviser will generally
vote against anti-greenmail provisions. |
B. |
General Voting
Policy |
• |
any affiliate of the Adviser.
For purposes of these Proxy Voting Policies and Procedures, an affiliate
means: |
(i) |
any person directly, or
indirectly through one or more intermediaries, controlling, controlled by
or under common control with the Adviser; |
(ii) |
any officer, director,
principal, partner, employer, or direct or indirect beneficial owner of
any 10% or greater equity or voting interest of the Adviser;
or |
(iii) |
any other person for which a
person described in clause (ii) acts in any such
capacity; |
• |
any issuer of a security for
which the Adviser (or any affiliate of the Adviser) acts as a sponsor,
advisor, manager, custodian, distributor, underwriter, broker, or other
similar capacity; or |
• |
any person with whom the
Adviser (or any affiliate of the Adviser) has an existing, material
contract or business relationship that was not entered into in the
ordinary course of the Adviser’s (or its affiliate’s)
business. |
3. |
PROXY
VOTING PROCEDURES |
A. |
The Account Representative or
the Portfolio Manager the “Responsible Party”) shall be designated by the
Adviser to make discretionary investment decisions for the client's
account will be responsible for voting the proxies related to that
account. The Responsible Party should assume that he or she has the power
to vote all proxies related to the client’s account if any one of the
three circumstances set forth in Section 1 above regarding proxy voting
powers is applicable. |
B. |
All proxies and ballots
received by WHR will be forwarded to the Responsible Party and then logged
in upon receipt in the “Receipt of Proxy Voting Material” log.
|
C. |
Prior to voting, the
Responsible Party will verify whether his or her voting power is subject
to any limitations or guidelines issued by the client (or in the case of
an employee benefit plan, the plan's trustee or other
fiduciaries). |
D. |
Prior to voting, the
Responsible Party will verify whether an actual or potential conflict of
interest with the Adviser or any Interested Person exists in connection
with the subject proposal(s) to be voted upon. The determination regarding
the presence or absence of any actual or potential conflict of interest
shall be adequately documented by the Responsible Party (i.e., comparing
the apparent parties affected by the proxy proposal being voted upon
against the Adviser’s internal list of Interested Persons and, for any
matches found, describing the process taken to determine the anticipated
magnitude and possible probability of any conflict of interest being
present), which shall be reviewed and signed off on by the Responsible
Party’s direct supervisor (and if none, by the board of directors or a
committee of the board of directors of the Adviser).
|
E. |
If an actual or potential
conflict is found to exist, written notification of the conflict (the
“Conflict Notice”) shall be given to the client or the client’s designee
(or in the case of an employee benefit plan, the plan's trustee or other
fiduciary) in sufficient detail and with sufficient time to reasonably
inform the client (or in the case of an employee benefit plan, the plan's
trustee or other fiduciary) of the actual or potential conflict involved.
|
• |
the proposal to be voted upon;
|
• |
the actual or potential
conflict of interest involved; |
• |
the Adviser’s vote
recommendation (with a summary of material factors supporting the
recommended vote); and |
• |
if applicable, the
relationship between the Adviser and any Interested
Person. |
• |
engage a non-Interested Party
to independently review the Adviser’s vote recommendation if the vote
recommendation would fall in favor of the Adviser’s interest (or the
interest of an Interested Person) to confirm that the Adviser’s vote
recommendation is in the best interest of the client under the
circumstances; |
• |
cast its vote as recommended
if the vote recommendation would fall against the Adviser’s interest (or
the interest of an Interested Person) and such vote recommendation is in
the best interest of the client under the circumstances;
or |
• |
abstain from voting if such
action is determined by the Adviser to be in the best interest of the
client under the circumstances. |
F. |
The Responsible Party will
promptly vote proxies received in a manner consistent with the Proxy
Voting Policies and Procedures stated above and guidelines (if any) issued
by client (or in the case of an employee benefit plan, the plan's trustee
or other fiduciaries if such guidelines are consistent with ERISA).
|
G. |
In accordance with SEC Rule
204-2(c)(2), as amended, the Responsible Party shall retain in the
respective client’s file, the following: |
• |
A copy of the proxy statement
received (unless retained by a third party for the benefit of the Adviser
or the proxy statement is
available from the SEC’s Electronic Data Gathering, Analysis, and
Retrieval (EDGAR) system); |
• |
A record of the vote cast
(unless this record is retained by a third party for the benefit of the
Adviser and the third party is able to
promptly provide the Adviser with a copy of the voting record upon its
request); |
• |
A record memorializing the
basis for the vote cast; |
• |
A copy of any document created
by the Adviser or its employees that was material in making the decision
on how to vote the subject proxy;
and, |
• |
A copy of any Conflict Notice,
conflict consent or any other written communication (including emails or
other electronic communications) to or from the client (or in the case of
an employee benefit plan, the plan's trustee or other fiduciaries)
regarding the subject proxy vote cast by, or the vote recommendation of,
the Adviser. |
H. |
Periodically, but no less than
annually, the Adviser will: |
1. |
Verify that all annual proxies
for the securities held in the client’s account have been received;
|
2. |
Verify that each proxy
received has been voted in a manner consistent with the Proxy Voting
Policies and Procedures and the guidelines (if any) issued by the client
(or in the case of an employee benefit plan, the plan's trustee or other
fiduciaries); |
3. |
Review the files to verify
that records of the voting of the proxies have been properly maintained;
|
4. |
Prepare a written report for
each client regarding compliance with the Proxy Voting Policies and
Procedures; and |
5. |
Maintain an internal list of
Interested Persons. |
• |
That Spectrum act solely in
the interest of its clients in providing for ultimate long-term
stockholder value. |
• |
That Spectrum act without
undue influence from individuals or groups who may have an economic
interest in the outcome of a proxy vote. |
• |
That the custodian bank is
aware of our fiduciary duty to vote proxies on behalf of others – Spectrum
relies on the best efforts of the custodian bank to deliver all proxies we
are entitled to vote. |
• |
That Spectrum will exercise
its right to vote all proxies on behalf of its clients (or permit clients
to vote their interest, as the case(s) may
be). |
• |
That Spectrum will implement
a reasonable and sound basis to vote
proxies. |
A. |
Following ISS’
Recommendations |
B. |
Disregarding ISS’
Recommendations |
• |
Business Relationships – The
CCO will consider whether Spectrum (or an affiliate) has a substantial
business relationship with a portfolio company or a proponent of a proxy
proposal relating to the portfolio company (e.g., an employee group), such
that failure to vote in favor of management (or the proponent) could harm
the adviser’s relationship with the company (or proponent). For
example, if Spectrum manages money for the portfolio company or an
employee group, manages pension assets, leases office space from the
company, or provides other material services to the portfolio company, the
CCO will review whether such relationships may give rise to a conflict of
interest. |
• |
Personal Relationships – The
CCO will consider whether any senior executives or portfolio managers (or
similar persons at Spectrum’s affiliates) have a personal relationship
with other proponents of proxy proposals, participants in proxy contests,
corporate directors, or candidates for directorships that might give rise
to a conflict of interest. |
• |
Familial Relationships – The
CCO will consider whether any senior executives or portfolio managers (or
similar persons at Spectrum’s affiliates) have a familial relationship
relating to a portfolio company (e.g., a spouse or other relative who
serves as a director of a portfolio company, is a candidate for such a
position, or is employed by a portfolio company in a senior
position). |
• |
A list of clients that are
also public companies, which is prepared and updated by the Operations
Department and retained in the Compliance
Department. |
• |
Publicly available
information. |
• |
Information generally known
within Spectrum. |
• |
Information actually known
by senior executives or portfolio managers. When considering a proxy
proposal, investment professionals involved in the decision-making process
must disclose any potential material conflict that they are aware of to
the CCO prior to any substantive discussion of a proxy
matter. |
• |
Information obtained
periodically from those persons whom the CCO reasonably believes could be
affected by a conflict arising from a personal or familial relationship
(e.g., portfolio managers, senior
management). |
1. |
Financial Materiality – The
most likely indicator of materiality in most cases will be the dollar
amount involved with the relationship in question. For purposes
of proxy voting, it will be presumed that a conflict is not material
unless it involves at least 5% of Spectrum’s annual revenues or a minimum
dollar amount of $1,000,000. Different percentages or dollar
amounts may be used depending on the nature and degree of the conflict
(e.g., a higher number if the conflict arises through an affiliate rather
than directly with Spectrum). |
2. |
Non-Financial Materiality –
A non-financial conflict of interest might be material (e.g., conflicts
involving personal or familial relationships) and should be evaluated
based on the facts and circumstances of each
case. |
1. |
selection of
auditors |
2. |
increasing the authorized
number of common shares |
3. |
election of unopposed
directors |
1. |
Classification
of Board of Directors. Rather than
electing all directors annually, these provisions stagger a board,
generally into three annual classes, and call for only one-third to be
elected each year. Staggered boards may help to ensure
leadership continuity, but they also serve as defensive
mechanisms. Classifying the board makes it more difficult to
change control of a company through a proxy contest involving election of
directors. In general, we vote on a case by case basis on
proposals for staggered boards, but generally favor annual elections of
all directors. |
2. |
Cumulative
Voting of Directors. Most
corporations provide that shareholders are entitled to cast one vote for
each director for each share owned - the one share, one vote
standard. The process of cumulative voting, on the other hand,
permits shareholders to distribute the total number of votes they have in
any manner they wish when electing directors. Shareholders may
possibly elect a minority representative to a corporate board by this
process, ensuring representation for all sizes of
shareholders. Outside shareholder involvement can encourage
management to maximize share value. We generally support
cumulative voting of directors. |
3. |
Prevention
of Greenmail. These proposals
seek to prevent the practice of “greenmail”, or targeted share repurchases
by management of company stock from individuals or groups seeking control
of the company. Since only the hostile party receives payment,
usually at a substantial premium over the market value of its shares, the
practice discriminates against all other shareholders. By
making greenmail payments, management transfers significant sums of
corporate cash to one entity, most often for the primary purpose of saving
their jobs. Shareholders are left with an asset-depleted and
often less competitive company. We think that if a corporation
offers to buy back its stock, the offer should be made to all
shareholders, not just to a select group or individual. We are
opposed to greenmail and will support greenmail prevention
proposals. |
4. |
Supermajority
Provisions. These corporate
charter amendments generally require that a very high percentage of share
votes (70-81%) be cast affirmatively to approve a merger, unless the board
of directors has approved it in advance. These provisions have
the potential to give management veto power over merging with another
company, even though a majority of shareholders favor the
merger. In most cases we believe requiring supermajority
approval of mergers places too much veto power in the hands of management
and other minority shareholders, at the expense of the majority
shareholders, and we oppose such
provisions. |
5. |
Defensive
Strategies. These proposals
will be analyzed on a case by case basis to determine the effect on
shareholder value. Our decision will be based on whether the
proposal enhances long-term economic
value. |
6. |
Business
Combinations or Restructuring. These proposals
will be analyzed on a case by case basis to determine the effect on
shareholder value. Our decision will be based on whether the
proposal enhances long-term economic
value. |
7. |
Executive
and Director Compensation. These proposals
will be analyzed on a case by case basis to determine the effect on
shareholder value. Our decision will be based on whether the
proposal enhances long-term economic
value. |
Name of individual
contacted: |
| |
Date: |
|
|
Yes / No |
| |
Name of individual
contacted: |
| |
Date: |
|
|
8. Portfolio Manager
Signature: |
| |
Date: |
|
|
Portfolio Manager
Name: |
| |
|
| |
Portfolio Manager
Signature*: |
| |
Date: |
|
|
Portfolio Manager
Name: |
|
A. |
STATEMENT
OF POLICY |
B. |
GENERAL
PRINCIPLES |
C. |
PROCEDURES |
1. |
Account
Set-up and Review: For new clients, the General
Counsel will inform the Operations team as to whether the client retained
the responsibility to vote proxies or delegated that responsibility to
Stone Harbor. Designated personnel within Operations will ensure that the
account is set-up to vote proxies with the appropriate custodian and
systems. |
2. |
Securities
Lending: Stone
Harbor does not generally have the authority to lend securities on behalf
of its clients. For those clients for which Stone Harbor does have such
authority, Stone Harbor has decided not to engage in securities lending.
Stone Harbor will monitor upcoming proxy meetings and call back
securities, if applicable, in anticipation of an important vote to be
taken among holders of such securities. In determining whether to call
back securities, the relevant portfolio manager(s) will consider whether
the request that the client benefit to the client in voting the matter
outweighs the benefit to the client in keeping the stock on
loan. |
3. |
Voting
Proxies. Stone Harbor will generally vote proxies
according to the policies described below, subject to consideration of
overrides and material conflicts. |
D. |
VOTING
POLICY GUIDELINES |
1. |
Auditors |
• |
Tenure of the audit firm
|
• |
Establishment and disclosure
of a renewal process whereby the auditor is regularly evaluated for both
audit quality and competitive price |
• |
Length of the rotation
period advocated in the proposal |
• |
Significant audit-related
issues |
• |
Insiders and affiliated
outsiders on boards that are not at least majority
independent |
• |
Directors who sit on more
than six boards |
• |
Compensation Committee
members if there is a disconnect between the CEO’s pay and
performance |
3. |
Shareholder
Rights |
4. |
Proxy
Contests |
6. |
Mergers
and Corporate Restructurings |
7. |
Reincorporation
Proposals |
8. |
Capital
Structure |
9. |
Executive
and Director Compensation |
• |
The plan expressly permits
repricing without shareholder approval for listed companies;
or |
• |
There is a disconnect
between the CEO’s pay and performance (an increase in pay and a decrease
in performance), the main source for the pay increase is equity-based, and
the CEO participates in the plan being voted on.
|
• |
Historic trading
patterns |
• |
Rationale for the
repricing |
• |
Value-for-value
exchange |
• |
Option
vesting |
• |
Term of the
option |
• |
Exercise
price |
• |
Participation |
• |
Advocate performance-based
equity awards (indexed options, premium-priced options, performance-vested
awards), unless the proposal is overly restrictive or the company already
substantially uses such awards |
• |
Call for a shareholder vote
on extraordinary benefits contained in Supplemental Executive Retirement
Plans (SERPs). |
10. |
Social
and Environmental Issues |
• |
FOR proposals for the
company to amend its Equal Employment Opportunity (EEO) Statement to
include reference to sexual orientation, unless the change would result in
excessive costs for the company. |
• |
AGAINST resolutions asking
for the adopting of voluntary labeling of ingredients or asking for
companies to label until a phase out of such ingredients has been
completed. |
D. |
CONFLICTS
OF INTEREST |
• |
Manages the issuer’s pension
plan |
• |
Manages money for the
proponent |
• |
An executive of the issuer
or proponent |
• |
A director of the issuer or
proponent |
• |
A person who is a candidate
to be a director of the issuer |
• |
A proponent of the proxy
proposal |
1. |
If a proposal is addressed
by the specific policies herein, Stone Harbor will vote in accordance with
such policies; and |
2. |
If the proxy proposal is (i)
not addressed by the specific policies or (ii) requires a case-by-case
determination by Stone Harbor, the vote will be referred to the Compliance
Committee. The Compliance Committee will review the potential conflict and
determine how to vote the proxy in the best interest of the client. The
Compliance Committee will memorialize the rationale of such vote in
writing. |
E. |
COMPOSITION
OF THE COMPLIANCE COMMITTEE |
• |
Chief Investment Officer
|
• |
Chief Executive Officer
|
• |
General
Counsel |
• |
Chief Compliance
Officer |
• |
Chief Financial Officer
|
F. |
RECORD
KEEPING AND OVERSIGHT |
• |
a copy of each proxy form
(as voted); |
• |
a copy of each proxy
solicitation (including proxy statements) and related materials with
regard to each vote: |
• |
documentation relating to
the identification and resolution of conflicts of
interest; |
• |
any documents created by
Stone Harbor that were material to a proxy voting decision or that
memorialized the basis for that decision; and
|
• |
a copy of each written
client request for information on how Stone Harbor voted proxies on behalf
of the client or a client request for a copy of Stone Harbor’s Proxy
Voting Policies and Procedures, and a copy of any such written response by
Stone Harbor to any (written or oral) client request for information on
how Stone Harbor voted proxies on behalf of the requesting
client. |
G. |
INFORMATION
REQUESTS |