Investment Holdings As of December 31, 2017 Transparency of the Montana Investment Holdings
Investment Holdings As of December 31, 2017 Transparency of the Montana Investment Holdings The Montana Board of Investment’s holdings file is a comprehensive listing of all manager funds, separately managed and commingled, and aggregated security positions. Securities are organized across common categories: Pension Pool, Asset Class, Manager Fund, Aggregated Individual Holdings, and Non-Pension Pools. Market values shown are in U.S. dollars. The market value of the individual holdings does not necessarily correspond to the net asset value of the accounts in the financial reports. Aggregated Individual Holdings represent securities held at our custodian bank and individual commingled accounts. The Investment Holdings Report is unaudited and may be subject to change. Additional information can be found at http://www.investmentmt.com/ Montana Board of Investments | December 31, 2017 | 2 Table of Contents Consolidated Asset Pension Pool (CAPP) 4 CAPP - Domestic Equity 5 CAPP - International Equity 18 CAPP - Private Equity 32 CAPP - Natural Resources 34 CAPP - Private Real Estate 35 CAPP - TIPS 36 CAPP - Broad Fixed Income 37 CAPP - US Treasury & Agency 40 CAPP - Investment Grade Credit 42 CAPP - Mortgage Backed Securities 44 CAPP - High Yield Fixed Income 46 CAPP - Cash Equivalents 60 Short Term Investment Pool (STIP) 61 Trust Funds Investment Pool (TFIP) 63 State Fund 69 All Other Funds 73 End Notes 74 Glossary 75 Montana Board of Investments | December 31, 2017 | 3 CAPP Asset Class Holdings Security Name Market Value Domestic Equity 4,003,924,115 International Equity 2,041,108,151 Private Equity 1,158,087,065 Natural Resources 259,993,915 Real Estate 785,720,964 TIPS 384,132,519 Broad Fixed Income 249,766,393 US Treasury & Agency 1,083,499,322 Investment Grade Credit 376,018,338 Mortgage-Backed 463,393,123 High Yield 319,051,408 Cash Equivalents 176,742,322 Montana Board of Investments | December 31, 2017 | 4 Domestic Equity Manager Holdings Manager Name Market Value BlackRock (ETF and Commingled) 2,207,354,908 T.
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