AFL CIO Housing Investment Trust
Actively managed U.S. bond fund
As of its 2026 Q2 report, AFL CIO Housing Investment Trust held 845 positions with $7.46B in net assets. Its ten largest holdings made up 13.5% of the fund. Over the 12 months to May 2026, it returned 5.5%, with dividends reinvested. In 2026 Q2 it added 20 new positions and exited 24.
The investment objective of the American Federation of Labor and Congress of Industrial Organizations Housing Investment Trust (HIT) is to generate competitive risk-adjusted total rates of return for its investors (Participants) by investing in fixed-income investments, primarily multifamily and single family mortgage-backed assets. Other important objectives of the HIT are to encourage the construction of housing and to facilitate employment for union members in the construction trades and related industries. All on-site construction work financed through the HITs investments is required to be performed by 100% union labor.
The fund invests primarily in government and agency-backed multifamily and single-family mortgage-backed securities with call protection, selecting them to offer higher yields than comparable securities in the Bloomberg U.S. Aggregate Bond Index while maintaining similar credit quality and interest rate risk. The fund manages duration within a range comparable to the Bloomberg Aggregate and may use Treasury futures contracts for interest rate risk management. Because the fund's returns depend on the selection and performance of individual mortgage securities chosen by its investment personnel rather than on tracking an index, performance will diverge from the Bloomberg Aggregate. The fund requires that all on-site construction financed through its investments be performed by union labor.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
400 Lake Shore Drive 5.90% floating · due 2053-12-01 | 2.49% | $185.99M | — |
FEDERAL HOUSING ADMINISTRATION 2.50% · due 2063-04-01 | 1.43% | $107.16M | — |
United States Department of the Treasury 4.13% · due 2044-08-15 | 1.39% | $104.00M | — |
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 3.05% · due 2063-12-15 | 1.33% | $99.51M | — |
Federal Home Loan Mortgage Corporation 4.25% · due 2028-01-01 | 1.26% | $93.64M | — |
United States Department of the Treasury 3.88% · due 2043-02-15 | 1.25% | $93.03M | — |
United States Department of the Treasury 4.75% · due 2056-02-15 | 1.24% | $92.27M | — |
United States Department of the Treasury 4.50% · due 2054-11-15 | 1.16% | $86.58M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.65% · due 2036-01-01 | 1.00% | $74.57M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.00% · due 2029-06-01 | 0.93% | $69.57M | — |
The 200 largest of 845 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Securitized | 87.21% |
| Bonds | 8.83% |
| Loans | 2.49% |
| Cash & short-term | 1.44% |
| 2 smaller | 0.03% |
Derivatives are shown at market value, not notional exposure.
How it has done
C000026832 share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.48%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
AFL CIO Housing Investment Trust is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Portfolio turnover
- 23.90% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
20 new· the largest 4
24 exited· the largest 2
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 94.0% |
| Floating rate | 6.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.3% |
| 1-3y | 9.0% |
| 3-5y | 13.2% |
| 5-10y | 19.5% |
| 10y+ | 55.9% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 56% |
| Credit spreads | 44% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.56 yr |
| High yield | +0.07 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.22 yr | 4% |
| 5 yr | 2.20 yr | 37% |
| 10 yr | 2.81 yr | 47% |
| 30 yr | 0.79 yr | 13% |
3 mo is NEGATIVE (-0.12 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.24 yr | 5% |
| 5 yr | 1.90 yr | 41% |
| 10 yr | 2.08 yr | 45% |
| 30 yr | 0.40 yr | 9% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.12 | +0.00 | +0.00 | $3.3k | $0 |
| 1 yr | +0.22 | +0.19 | +0.05 | $140.7k | $35.7k |
| 5 yr | +2.20 | +1.88 | +0.02 | $1.40m | $15.4k |
| 10 yr | +2.81 | +2.08 | +0.00 | $1.55m | $0 |
| 30 yr | +0.79 | +0.40 | +0.00 | $298.4k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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