Bridge Builder Core Plus Bond Fund
Bridge Builder Trust · Series S000049701 · 1 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q4
The investment objective of the Bridge Builder Core Plus Bond Fund (the Fund or the Core Plus Bond Fund) is to provide total return (capital appreciation plus income).
The fund is managed by multiple sub-advisers who make day-to-day investment decisions across fixed income sectors including U.S. government and corporate bonds, mortgage-backed securities, asset-backed securities, convertible securities, bank loans, and inflation-linked bonds, with allocations to high-yield and unrated securities that sub-advisers deem comparable in quality to investment-grade instruments. Each sub-adviser applies its own security selection process, with performance dependent on the quality of those individual picks and sector allocations.
| Share class | Gross | Net |
|---|---|---|
| BBCPX | 0.39% | 0.16% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 430.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 57.14% |
| Bonds | 52.43% |
| Derivatives | 19.78% |
| Cash & short-term | 7.14% |
| 2 smaller | 1.16% |
These positions come to 137.65% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: F/C US 2YR NOTE (CBT) SEP26, F/C US 10YR ULTRA FUT SEP26, F/C US ULTRA BOND CBT SEP26, FNMA 30YR TBA 5% AUG 26, US TREAS NTS 4.125% 06/30/28, FNMA 30YR TBA 6% SEP 26, US TREAS NTS 4.125% 05/31/31, US TREAS NTS 4.125% 06/30/31
Largest exited: F/C US 10YR ULTRA FUT JUN26, F/C US 5YR NOTE (CBT) JUN26, F/C US 2YR NOTE (CBT) JUN26, US TREAS NTS 3.875% 03/31/31, F/C US ULTRA BOND CBT JUN26, FNMA 30YR TBA 5% MAY 26, FNCL 30YR TBA 5.5% MAY 26, FNMA 30YR TBA 6% JUN 26
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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 | 81.0% |
| Floating rate | 19.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.3% |
| 1-3y | 10.0% |
| 3-5y | 12.7% |
| 5-10y | 16.9% |
| 10y+ | 58.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
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 about half 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 | 65% |
| Credit spreads | 35% |
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 | +3.57 yr |
| High yield | +0.20 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 1.53 yr | 22% |
| 1 yr | 0.29 yr | 4% |
| 5 yr | 1.75 yr | 25% |
| 10 yr | 2.46 yr | 35% |
| 30 yr | 1.05 yr | 15% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.21 yr | 6% |
| 5 yr | 1.40 yr | 37% |
| 10 yr | 1.88 yr | 50% |
| 30 yr | 0.27 yr | 7% |
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 | +1.53 | +0.01 | +0.00 | $48.5k | $6.4k |
| 1 yr | +0.29 | +0.18 | +0.02 | $884.9k | $108.3k |
| 5 yr | +1.75 | +1.29 | +0.11 | $6.19m | $514.6k |
| 10 yr | +2.46 | +1.83 | +0.05 | $8.77m | $256.0k |
| 30 yr | +1.05 | +0.25 | +0.01 | $1.22m | $54.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 7.08 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | F/C US 2YR NOTE (CBT) SEP26 | 7.84% | $3.76B | — |
| — | F/C US 10YR ULTRA FUT SEP26 | 4.86% | $2.33B | — |
| — | F/C US ULTRA BOND CBT SEP26 | 4.26% | $2.04B | — |
| — | FNMA 30YR TBA 5% AUG 265.00% · due 2056-08-01 | 3.27% | $1.57B | — |
| — | US TREAS NTS 4.125% 06/30/284.13% · due 2028-06-30 | 2.67% | $1.28B | — |
| — | FNMA 30YR TBA 6% SEP 266.00% · due 2056-09-01 | 2.47% | $1.19B | — |
| — | US TREAS NTS 4.125% 05/31/314.13% · due 2031-05-31 | 2.12% | $1.02B | — |
| — | US TREAS NTS 4.125% 06/30/314.13% · due 2031-06-30 | 1.94% | $931.84M | — |
| — | FNMA 30YR TBA 5.5% AUG 265.50% · due 2056-08-01 | 1.82% | $874.76M | — |
| — | FIDELITY INV MMKT GOVT-INST | 1.69% | $808.51M | — |
Top 10 positions are 32.94% of net assets, top 25 48.76%, across 3.9K issuers.
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