NORTHERN FUNDS Form N-Q Filed 2018-08-27
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SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2018-08-27 | Period of Report: 2018-06-30 SEC Accession No. 0001193125-18-258756 (HTML Version on secdatabase.com) FILER NORTHERN FUNDS Mailing Address Business Address NORTHERN FUNDS NORTHERN FUNDS CIK:916620| IRS No.: 391777365 | State of Incorp.:DE | Fiscal Year End: 0331 50 SOUTH LASALLE STREET50 SOUTH LASALLE STREET Type: N-Q | Act: 40 | File No.: 811-08236 | Film No.: 181038717 CHICAGO IL 60603 CHICAGO IL 60603 800-595-9111 Copyright © 2018 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-08236 Northern Funds (Exact name of registrant as specified in charter) 50 South LaSalle Street Chicago, IL 60603 (Address of principal executive offices) (Zip code) Name and Address of Agent for Service: with a copy to: Diana E. McCarthy Kevin P. ORourke Drinker Biddle & Reath LLP Jose J. Del Real, Esq. One Logan Square, Suite 2000 The Northern Trust Company Philadelphia, Pennsylvania 19103-6996 50 South LaSalle Street Chicago, Illinois 60603 Registrants telephone number, including area code: (800) 595-9111 Date of fiscal year end: March 31 Date of reporting period: June 30, 2018 Copyright © 2018 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Item 1. Schedule of Investments. The registrants schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940, as amended (the 1940 Act), is as follows: Copyright © 2018 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document SCHEDULE OF INVESTMENTS INCOME EQUITY FUND JUNE 30, 2018 (UNAUDITED) NUMBER VALUE OF SHARES (000S) COMMON STOCKS - 98.9% Aerospace & Defense - 4.6% Boeing (The) Co. 10,430 $3,499 Harris Corp. 12,455 1,800 Lockheed Martin Corp. 15,357 4,537 9,836 Apparel & Textile Products - 0.8% VF Corp. 20,875 1,702 Asset Management - 1.1% Ameriprise Financial, Inc. 9,268 1,296 Franklin Resources, Inc. 36,036 1,155 2,451 Banking - 5.4% Citigroup, Inc. 19,441 1,301 JPMorgan Chase & Co. 72,021 7,505 PNC Financial Services Group (The), Inc. 20,268 2,738 11,544 Biotechnology & Pharmaceuticals - 10.5% AbbVie, Inc. 48,947 4,535 Allergan PLC 7,185 1,198 Amgen, Inc. 6,255 1,155 Bristol-Myers Squibb Co. 63,291 3,502 Gilead Sciences, Inc. 55,403 3,925 Johnson & Johnson 13,675 1,659 Merck & Co., Inc. 23,288 1,413 Pfizer, Inc. 146,603 5,319 22,706 Chemicals - 1.0% LyondellBasell Industries N.V., Class A 19,766 2,171 Commercial Services - 0.8% H&R Block, Inc. 72,035 1,641 Consumer Products - 4.4% Altria Group, Inc. 81,857 4,648 Energizer Holdings, Inc. 22,666 1,427 General Mills, Inc. 27,986 1,239 Kimberly-Clark Corp. 20,155 2,123 9,437 Electrical Equipment - 0.6% Emerson Electric Co. 19,066 1,318 Forest & Paper Products - 0.5% Domtar Corp. 21,692 1,036 Gaming, Lodging & Restaurants - 1.1% Las Vegas Sands Corp. 30,443 2,325 Hardware - 10.2% Apple, Inc. 53,011 9,813 Cisco Systems, Inc. 117,968 5,076 HP, Inc. 142,387 3,231 NetApp, Inc.(1) 26,700 2,097 Seagate Technology PLC(1) 30,340 1,713 Copyright © 2018 www.secdatabase.com. 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Please Consider the Environment Before Printing This Document 21,930 Health Care Facilities & Services - 1.0% Aetna, Inc. 5,547 1,018 Cigna Corp. 6,318 1,074 2,092 Industrial Services - 0.6% MSC Industrial Direct Co., Inc., Class A 15,890 1,348 Insurance - 3.0% Aflac, Inc. 84,704 3,644 Allstate (The) Corp. 29,888 2,728 Berkshire Hathaway, Inc., Class B* 656 122 6,494 Machinery - 0.8% Illinois Tool Works, Inc. 11,857 1,643 Media - 3.0% Alphabet, Inc., Class A* (1) 2,755 3,111 Facebook, Inc., Class A* (1) 6,106 1,186 Omnicom Group, Inc. 14,600 1,114 Walt Disney (The) Co. 10,590 1,110 6,521 Medical Equipment & Devices - 0.8% Baxter International, Inc. 24,786 1,830 Oil, Gas & Coal - 8.2% Chevron Corp. 27,212 3,440 Exxon Mobil Corp. 69,631 5,761 Halliburton Co. 27,345 1,232 Occidental Petroleum Corp. 32,131 2,689 Phillips 66 12,158 1,366 RPC, Inc. 22,160 323 Valero Energy Corp. 24,979 2,768 17,579 Real Estate Investment Trusts - 5.9% Brixmor Property Group, Inc. 73,399 1,279 Chimera Investment Corp. 45,430 830 Host Hotels & Resorts, Inc. 49,592 1,045 National Retail Properties, Inc. 43,959 1,932 New Residential Investment Corp. 52,460 918 NORTHERN FUNDS QUARTERLY REPORT 1 EQUITY FUNDS Copyright © 2018 www.secdatabase.com. 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Please Consider the Environment Before Printing This Document SCHEDULE OF INVESTMENTS INCOME EQUITY FUND continued NUMBER VALUE OF SHARES (000S) COMMON STOCKS - 98.9% continued Real Estate Investment Trusts - 5.9% continued Outfront Media, Inc. 48,676 $947 Park Hotels & Resorts, Inc. 51,898 1,590 Senior Housing Properties Trust 88,598 1,603 Simon Property Group, Inc. 10,373 1,765 Two Harbors Investment Corp. 53,151 840 12,749 Retail - Consumer Staples - 1.5% Walmart, Inc. 36,690 3,142 Retail - Discretionary - 7.6% Amazon.com, Inc.* (1) 1,829 3,109 Home Depot (The), Inc. 32,406 6,322 Kohls Corp.(1) 25,259 1,841 L Brands, Inc.(1) 46,183 1,703 Macys, Inc.(1) 92,481 3,462 Nordstrom, Inc. 920 48 16,485 Semiconductors - 5.6% Applied Materials, Inc. 13,720 634 Intel Corp. 42,825 2,129 KLA-Tencor Corp. 27,101 2,778 Texas Instruments, Inc. 42,311 4,665 Xilinx, Inc. 27,258 1,779 11,985 Software - 4.0% CDK Global, Inc. 23,221 1,511 Citrix Systems, Inc.* 16,468 1,726 Intuit, Inc. 7,732 1,580 Microsoft Corp. 38,648 3,811 8,628 Specialty Finance - 3.4% American Express Co. 31,107 3,049 Mastercard, Inc., Class A 13,500 2,653 Navient Corp. 120,514 1,570 7,272 Technology Services - 4.4% Accenture PLC, Class A 9,925 1,624 International Business Machines Corp. 30,689 4,287 Paychex, Inc. 52,895 3,615 9,526 Telecom - 2.4% Verizon Communications, Inc. 104,013 5,233 Transportation Equipment - 0.8% Cummins, Inc. 13,278 1,766 Utilities - 4.9% CenterPoint Energy, Inc. 64,548 1,789 DTE Energy Co. 13,689 1,419 Edison International 29,135 1,843 Entergy Corp. 30,753 2,484 Exelon Corp. 38,947 1,659 Copyright © 2018 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document FirstEnergy Corp. 33,051 1,187 SCANA Corp. 7,654 295 10,676 Total Common Stocks (Cost $170,296) 213,066 INVESTMENT COMPANIES - 0.9% Northern Institutional Funds - U.S. Government Portfolio, 1.72%(2) (3) 1,903,592 1,904 Total Investment Companies (Cost $1,904) 1,904 PRINCIPAL AMOUNT VALUE (000S) (000S) SHORT-TERM INVESTMENTS - 0.1% U.S. Treasury Bill, 1.59%, 7/19/18(4) (5) $210 $210 Total Short-Term Investments (Cost $210) 210 Total Investments - 99.9% (Cost $172,410) 215,180 Other Assets less Liabilities - 0.1% 254 NET ASSETS - 100.0% $215,434 (1) Security represents underlying investment on open written option contracts. (2) Investment in affiliated Portfolio. Northern Trust Investments, Inc. is the investment adviser to the Fund and the investment adviser to Northern Institutional Funds. (3) 7-day current yield as of June 30, 2018 is disclosed. (4) A portion of this security has been pledged as collateral to cover margin requirements for open futures contracts. (5) Discount rate at the time of purchase. * Non-Income Producing Security Percentages shown are based on Net Assets. EQUITY FUNDS 2 NORTHERN FUNDS QUARTERLY REPORT Copyright © 2018 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document JUNE 30, 2018 (UNAUDITED) At June 30, 2018, the Fund had open futures contracts as follows: VALUE AND UNREALIZED NOTIONAL APPRECIATION NUMBER OF AMOUNT CONTRACT CONTRACT (DEPRECIATION) TYPE CONTRACTS (000S) POSITION EXP. (000S) E-Mini S&P 500 17 $ 2,313 Long 9/18 $ * * Amount rounds to less than one thousand. At June 30, 2018, the Fund had open written call options as follows: NOTIONAL NUMBER OF AMOUNT VALUE TYPE CONTRACTS (000S) (000S) Amazon.com, Inc., Exp. Date 08/17/18, Strike Price $1,950.00 (18 ) $ 3,060 $(22 ) Alphabet, Inc., Exp. Date 08/17/18, Strike Price $1,275.00 (27 ) 3,049 (17 ) Facebook, Inc., Exp. Date 08/17/18, Strike Price $220.00 (61 ) 1,185 (10 ) Kohls Corp., Exp. Date 08/17/18, Strike Price $85.00 (125 ) 911 (9 ) L Brands, Inc., Exp. Date 08/17/18, Strike Price $42.50 (230 ) 848 (12 ) Macys, Inc., Exp. Date 08/17/18, Strike Price $45.00 (462 ) 1,729 (25 ) NetApp, Inc., Exp. Date 08/17/18, Strike Price $85.00 (130 ) 1,021 (23 ) Seagate Technology PLC, Exp. Date 08/17/18, Strike Price $62.50 (150 ) 847 (22 ) Total Written Options Contracts (Premiums Received $173) $(140 ) At June 30, 2018, the industry sectors for the Fund were: % OF LONG-TERM INDUSTRY SECTOR INVESTMENTS Consumer Discretionary 11.4 % Consumer Staples 5.9 Energy 8.2 Financials 13.0 Health Care 12.5 Industrials 7.5 Information Technology 27.7 Materials 1.5 Real Estate 4.8 Telecommunications Services 2.5 Utilities 5.0 Total 100.0 % Various inputs are used in determining the value of the Funds investments.