Bridge Builder Core Plus Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Bridge Builder Core Plus Bond Fund held 4,116 positions with $47.95B in net assets. Its ten largest holdings made up 32.9% of the fund. The BBCPX share class costs 0.16% a year. Over the 12 months to May 2026, BBCPX returned 6.4%, with dividends reinvested. In 2026 Q2 it added 734 new positions and exited 542.
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.
What you own
| Company | Weight | 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 26 5.00% · due 2056-08-01 | 3.27% | $1.57B | — |
US TREAS NTS 4.125% 06/30/28 4.13% · due 2028-06-30 | 2.67% | $1.28B | — |
FNMA 30YR TBA 6% SEP 26 6.00% · due 2056-09-01 | 2.47% | $1.19B | — |
US TREAS NTS 4.125% 05/31/31 4.13% · due 2031-05-31 | 2.12% | $1.02B | — |
US TREAS NTS 4.125% 06/30/31 4.13% · due 2031-06-30 | 1.94% | $931.84M | — |
FNMA 30YR TBA 5.5% AUG 26 5.50% · due 2056-08-01 | 1.82% | $874.76M | — |
FIDELITY INV MMKT GOVT-INST | 1.69% | $808.51M | — |
The 200 largest of 4,116 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 | 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.
How it has done
BBCPX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.74%. 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
Bridge Builder Core Plus Bond Fund 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
- Long duration
- Expense ratio, by class
- 0.16%· BBCPX 0.16%
- Portfolio turnover
- 430.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
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.
734 new· the largest 8
542 exited· the largest 8
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.
Understand how this fund fits with the rest.
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