Old Westbury Credit Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Old Westbury Credit Income Fund held 850 positions with $2.54B in net assets. Its ten largest holdings made up 38.6% of the fund. The OWCIX share class costs 0.91% a year. Over the 12 months to May 2026, OWCIX returned 7.1%, with dividends reinvested. In 2026 Q3 it added 70 new positions and exited 46.
The Funds primary investment objective is income.
The fund invests at least 80% of assets in credit instruments across corporate and sovereign bonds, leveraged loans, municipal securities, preferred and convertible securities, and mortgage- and asset-backed securities, with no limits on high-yield allocations; the adviser allocates opportunistically among asset classes and sub-advisers based on relative value and market outlook, targeting an effective duration between 2 and 8 years. The fund may also hold up to 20% in equities and use derivatives including credit default swaps, total return swaps, and interest rate instruments to adjust credit quality, duration, and currency exposure. Because returns depend on the sub-advisers' security selection and the adviser's tactical allocation decisions, performance will diverge from any benchmark. The fund's non-U.S. currency exposure through direct holdings and derivatives is normally limited to 25% of net assets.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
ISHARES TRUST | 8.23% | $209.15M | 2.2M | $95.80 |
MMDA OVERNIGHT SWEEP | 6.59% | $167.48M | — | — |
ISHARES TRUST | 5.60% | $142.17M | 1.5M | $94.78 |
SPDR SERIES TRUST | 4.78% | $121.28M | 1.2M | $101.04 |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 4.13% · due 2027-01-31 | 2.92% | $74.21M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 2.00% · due 2026-11-15 | 2.34% | $59.45M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.00% · due 2052-08-15 | 2.17% | $55.09M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 1.63% · due 2050-11-15 | 2.10% | $53.29M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 2.38% · due 2051-05-15 | 2.00% | $50.85M | — | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.00% · due 2048-08-15 | 1.89% | $47.88M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
The 200 largest of 850 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%.
| Bonds | 47.41% |
| Securitized | 43.48% |
| Cash & short-term | 5.96% |
| Stocks | 2.85% |
| Derivatives | 0.02% |
Look-through blends 4 underlying funds; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2026Q1, one or more quarters before the direct holdings (2026Q2).
How it has done
OWCIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 4.00%. Past returns are a record, not a forecast.
Jun 2026 and Jul 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.
Fees & fund details
Old Westbury Credit Income 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
- High yield
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.91%· OWCIX 0.91%
- Portfolio turnover
- 14.00% a year · as of 2026 Q1
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.
70 new· the largest 8
46 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
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 | 61.6% |
| Floating rate | 37.5% |
| Zero-coupon or unclassified | 0.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 7.6% |
| 1-3y | 2.0% |
| 3-5y | 3.4% |
| 5-10y | 11.3% |
| 10y+ | 75.5% |
| Unknown | 0.2% |
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 | 67% |
| Credit spreads | 33% |
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.
| High yield | +1.79 yr |
| Investment grade | +0.50 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 | 0.02 yr | 0% |
| 1 yr | 0.24 yr | 5% |
| 5 yr | 0.48 yr | 10% |
| 10 yr | 1.93 yr | 41% |
| 30 yr | 2.04 yr | 43% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.26 yr | 12% |
| 5 yr | 0.95 yr | 41% |
| 10 yr | 0.72 yr | 31% |
| 30 yr | 0.36 yr | 16% |
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 | +0.02 | +0.00 | +0.00 | $35 | $1.2k |
| 1 yr | +0.24 | +0.06 | +0.20 | $15.7k | $51.5k |
| 5 yr | +0.48 | +0.20 | +0.75 | $50.1k | $190.2k |
| 10 yr | +1.93 | +0.23 | +0.49 | $57.2k | $125.4k |
| 30 yr | +2.04 | +0.02 | +0.34 | $4.8k | $86.0k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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