Fund · ActivePassive Core Bond ETF · measured from SEC filings
APCB holdings
APCB reports 1,843 holdings and behaves like 33.8 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-05-31. The fact sheet publishes the first number; this page computes the second, and traces it across 13 quarters of filings.
Measured concentration
as of 2026-05-31Read this figure with the following in mind
4.3% of net assets is securities-lending cash collateral, excluded from the figure; counted as filed the fund would read 32.1
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 30.03% at a quoted market price (level 1), 40 issuer countries.
What stands out
as of 2026-05-31The largest line in APCB's filing is not a stock but Ishares MBS ETF, a equity position at 13.2% of net assets. Ten companies are 32.97% of the fund; the other 1,833 share the rest. Among the 192 bond funds measured here, APCB behaves like 33.8 holdings against a median of 236.4 — 7.1 times more concentrated than the median. Across 13 quarterly filings APCB has held roughly steady since 2023-05-31 (28.3 then, 33.8 now). Between the 2026-02-28 and 2026-05-31 filings 214 positions were added and 166 dropped; 10.6% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable bond funds on this site. Nothing here is a view on the fund.
Every filing since 2023
13Between 2023-05-31 and 2026-05-31, APCB went from behaving like 28.3 equally weighted positions to 33.8 — 19% more, while its top ten went from 41.37% to 32.97% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-05-31 | 1,843 | 33.8 | 32.97% | 13.26% |
| 2026-02-28 | 1,795 | 32.4 | 34.04% | 13.7% |
| 2025-11-30 | 1,802 | 31.8 | 33.39% | 13.95% |
| 2025-08-31 | 1,772 | 34.5 | 32.64% | 12.95% |
| 2025-05-31 | 1,711 | 32.6 | 33.46% | 13.39% |
| 2025-02-28 | 1,579 | 32.4 | 34.76% | 13.28% |
| 2024-11-30 | 1,486 | 32.1 | 35.51% | 13.15% |
| 2024-08-31 | 1,275 | 33.2 | 36.03% | 12.73% |
Earlier filings (5 more, back to 2023-05-31)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-05-31 | 1,103 | 15.7 | 47.37% | 21.14% |
| 2024-02-29 | 787 | 31 | 36.44% | 11.81% |
| 2023-11-30 | 519 | 28.4 | 41.77% | 11.9% |
| 2023-08-31 | 491 | 29.8 | 39.72% | 13.12% |
| 2023-05-31 | 444 | 28.3 | 41.37% | 13.66% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
As filed, collateral included
4.3% collateralAPCB's filing lists 1,844 positions including 4.3% of net assets in securities-lending cash collateral. Counted as filed the fund reads 32.1 effective holdings with a top ten of 36.44%; on its own investments — the figure above — it reads 33.8 with a top ten of 32.97%. The collateral is matched by a liability and is not a holding the fund chose; since 2026-09-18 every figure on this site sets it aside (methodology). Both numbers are in the data.
Largest positions, as filed
as of 2026-05-31The 15 largest of 1,843 positions in APCB's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: APCB.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | iShares MBS ETF | 13.26% | 13.3% |
| 2 | Vanguard Total International B | 9.79% | 23.1% |
| 3 | iShares Core U.S. Aggregate Bo | 2.55% | 25.6% |
| 4 | US TREASURY N/B | 1.53% | 27.1% |
| 5 | First American Government Obli | 1.39% | 28.5% |
| 6 | US TREASURY N/B | 1.05% | 29.6% |
| 7 | US TREASURY N/B | 0.96% | 30.5% |
| 8 | US TREASURY N/B | 0.96% | 31.5% |
| 9 | US TREASURY N/B | 0.78% | 32.3% |
| 10 | US TREASURY N/B | 0.68% | 33.0% |
| 11 | US TREASURY N/B | 0.68% | 33.6% |
| 12 | US TREASURY N/B | 0.67% | 34.3% |
| 13 | US TREASURY N/B | 0.61% | 34.9% |
| 14 | US TREASURY N/B | 0.61% | 35.5% |
| 15 | US TREASURY N/B | 0.56% | 36.1% |
By country of issuer
as of 2026-05-31Share of APCB's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 93.14% |
| United Kingdom | 1.07% |
| France | 0.63% |
| Canada | 0.59% |
| Netherlands° | 0.56% |
| South Korea | 0.47% |
| Japan | 0.46% |
| Australia | 0.43% |
Returns the fund reported
2023-03 – 2026-05Monthly total returns from Item B.5 of APCB's own filings, 39 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference — percentage points over 0 months, which is roughly the distributions. Every month with the filing it came from: APCB.json · all funds.
Who borrows APCB's shares
2026-05-31The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-05-31, $39m was out to 9 borrowers, 4.22% of net assets. The largest, BofA Securities, Inc., held 58% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| BofA Securities, Inc. | $23m | 58.0% |
| BMO NESBITT BURNS, INC | $6m | 15.0% |
| JANNEY MONTGOMERY SCOTT, LLC | $5m | 13.5% |
| BARCLAYS CAPITAL INC. | $3m | 7.5% |
| CITIGROUP GLOBAL MARKETS INC. | $2m | 4.0% |
Cash collateral reported against the loan: 4.30% of net assets, 102% of the amount lent. That is a floor on the collateral, not the whole of it — collateral the fund does not hold as a position is not in this filing, so a figure under 100% is not evidence of under-collateralisation. How that figure behaves across all funds. Every quarter APCB has filed, with each borrower: APCB.json · all funds.
Since the previous filing
2026-02-28 → 2026-05-311,795 positions became 1,843: 214 added (9.2% of the fund at the later date), 166 dropped (5.8% at the earlier date). Half the sum of all weight changes, a turnover proxy: 10.6%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of APCB compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-02-28 | 2026-05-31 | Largest decreases | 2026-02-28 | 2026-05-31 |
|---|---|---|---|---|---|
| US TREASURY N/B | 0.28% | 0.47% | iShares MBS ETF | 13.70% | 13.26% |
| US TREASURY N/B | 0.39% | 0.56% | US TREASURY N/B | 1.33% | 0.96% |
| First American Government Obli | 1.25% | 1.39% | US TREASURY N/B | 0.32% | 0.02% |
| US TREASURY N/B | 0.04% | 0.14% | US TREASURY N/B | 0.37% | 0.11% |
| JOHNSON & JOHNSON | 0.02% | 0.12% | US TREASURY N/B | 0.32% | 0.10% |
| US TREASURY N/B | 0.05% | 0.13% | US TREASURY N/B | 0.30% | 0.09% |
New: US TREASURY N/B (0.61%), FEDERAL FARM CREDIT BANK (0.45%), US TREASURY N/B (0.42%), US TREASURY N/B (0.39%), US TREASURY N/B (0.38%), CONOCOPHILLIPS COMPANY (0.32%). Gone: US TREASURY N/B (0.84%), US TREASURY N/B (0.46%), US TREASURY N/B (0.42%), INTL BK RECON & DEVELOP (0.35%), US TREASURY N/B (0.32%), US TREASURY N/B (0.18%).
Asset categories and pricing
as of 2026-05-31| Asset category (as filed) | Share of investments |
|---|---|
| debt DBT | 55.06% |
| equity EC | 24.55% |
| mortgage-backed ABS-MBS | 11.31% |
| short-term investment STIV | 5.48% |
| ABS-O ABS-O | 3.38% |
| preferred equity EP | 0.22% |
30.0% of APCB is carried at a quoted market price (fair-value level 1); 0.1% at level 3, priced from the filer's own inputs. Categories and levels are the filer's, from Form N-PORT; what a low level-1 share does and does not mean is in the measure's page.
Neighbours by effective holdings, debt funds
10Every measured debt fund lined up by how many holdings it behaves like; these sit either side of APCB (33.8). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| TIPX State Street(R) SPDR(R) Bloomberg 1-10 Year TIPS ETF | 33 | 29.4 | 39.01% | 2026-06-30 |
| GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 31 | 30 | 33.82% | 2026-05-31 |
| IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 35 | 30.7 | 40.15% | 2026-07-31 |
| TLT iShares 20+ Year Treasury Bond ETF | 47 | 31.3 | 42.23% | 2026-05-31 |
| FSTB Fidelity Short-Term Bond Fund | 463 | 33.1 | 44.65% | 2026-05-31 |
| SCHP Schwab U.S. TIPS ETF | 49 | 36.2 | 36.43% | 2026-06-30 |
| TIP iShares TIPS Bond ETF | 49 | 36.3 | 35.76% | 2026-07-31 |
| TLH iShares 10-20 Year Treasury Bond ETF | 67 | 37.2 | 37.79% | 2026-05-31 |
| IBTI iShares iBonds Dec 2028 Term Treasury ETF | 46 | 42.3 | 26.99% | 2026-07-31 |
| XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 70 | 45.7 | 34.06% | 2026-07-31 |
Essays that examine APCB
0Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.