BBNNX — BBH Income Fund
Data updated: 2026-09-25
BBNNX — BBH Income Fund. Intermediate Total / Aggregate Bond · $2.31B AUM · 0.70% expense ratio. Holdings, fees, performance and SEC filings.
BBNNX Fund Overview
BBNNX — BBH Income Fund is a US mutual fund managed by BBH Trust, categorised as Intermediate Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: BBH Trust
- Category: Intermediate Total / Aggregate Bond
- Assets under management: $2.31B
- Ticker: BBNNX
- SEC CIK: 0001342947
- SEC series ID: S000062218
- Share class ID: C000201414
BBNNX Investment Objective and Strategy
BBH Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BBH Trust.
Investment objective
The investment objective of the BBH Income Fund (the Fund) is to provide maximum total return, with an emphasis on current income, consistent with preservation of capital and prudent investment management.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing in a well-diversified portfolio of fixed income instruments, including floating or variable rate debt instruments. The Fund intends to invest only in debt instruments which are performing, durable, and available at an attractive valuation. With respect to fixed income instruments, the term performing indicates that the instrument is making payment of interest and principal on schedule, while the term durable signifies the Investment Advisers assessment that the obligor responsible for making payment on the instrument is likely to continue making such timely payment in a variety of future economic circumstances. The Investment Adviser considers an instrument to be attractively valued when the Investment Adviser believes that the instruments potential total return exceeds that which would be normally justified by the instruments underlying risks.
The Funds investments will be primarily focused in notes and bonds issued by domestic and foreign corporations, financial institutions, the U.S. Government, and government agencies and government guaranteed issuers; asset-backed securities, consisting of consumer and commercial asset-backed securities; commercial mortgage-backed securities and residential mortgage-backed securities; and loan transactions. The Fund may purchase select municipal obligations, sovereign debt, and fixed income securities issued by corporations and governments in foreign countries, including in emerging markets, when the investment adviser believes that the additional returns available from these securities are attractive. The Fund may invest in money market instruments, repurchase agreements, commercial paper and for hedging purposes, derivative instruments, consisting of futures, swaps and options, to meet its investment objective.
Subject to applicable statutory and regulatory limitations, the Fund may invest in shares of other investment companies, such as exchange-traded funds (ETFs). The Funds investment in other investment companies may include shares of money market funds, including funds affiliated with the Investment Adviser. The Fund may invest in fixed- and floating-rate loan transactions, which investments generally will be in the form of loan participations, delayed funding loans, and revolving credit facilities, or assignments of portions of such loans. The Fund has no limitations on the range of maturities of the debt securities in which it can invest and may hold securities with short-, medium- or long-term maturities. The Fund will seek to maintain an overall portfolio duration (sensitivity to changes in yields) that is consistent with the broad investment grade market through the use of securities held and U.S.
Treasury futures. Under normal circumstances, the Fund is managed with the intention of maintaining an effective duration of between 80%-120% of the effective duration of Bloomberg Barclays US Aggregate Index, which as of May 31, 2018 was approximately 5.94 years. The Fund also expects to target, under normal circumstances, the following exposure limitations at the time of purchase: 95% of the Funds assets in instruments denominated in U.S. Dollars including securities issued by corporate or sovereign issuers domiciled outside of the U.S.; 75% or more of the Funds assets in instruments with an investment grade rating; 25% or less of the Funds assets in instruments rated BB (or equivalent) and below, which are commonly referred to as junk bonds; 10% or less of the Funds assets in corporate or sovereign debt of issuers domiciled in emerging markets (defined as an issuer in the JPMorgan Emerging Market Bond Index JPM EMBI); and 5% or less of the Funds assets in instruments rated CCC (or equivalent) and below.
These limitations notwithstanding, the Fund will have the flexibility to invest in the sectors, industries, securities and durations that the Investment Adviser identifies as offering attractive risk-adjusted returns consistent with the Funds investment objective. When an instrument is no longer trading at an attractive valuation, according to this framework, the Fund aims to sell the investment entirely and invest the proceeds in cash or U.S. Treasury instruments until it identifies another attractively valued investment.
BBNNX Holdings
Top 10 holdings of BBH Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| F/c US 10yr Note (cbt)sep26 | 10.08% |
| F/c US 10yr Ultra Fut Sep26 | 6.73% |
| F/c US 5yr Note (cbt) Sep26 | 3.72% |
| F/c US Ultra Bond Cbt Sep26 | 2.94% |
| US Treas Nts 3.375% 05/15/33 | 2.53% |
| US Treas Nts 4.25% 08/15/35 | 2.43% |
| US Treas Bds 1.75% 08/15/41 | 2.34% |
| US Treas Bds 3.375% 11/15/48 | 2.26% |
| US Treas Bds 3.875% 02/15/43 | 2.00% |
| US Treas Bds 2.875% 08/15/45 | 1.33% |
BBNNX Portfolio Allocation
Asset-class allocation of BBH Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 59.5% |
| Securitized | 25.8% |
| Real Estate | 24.7% |
| Loans | 11.9% |
| Equity | 1.5% |
| Cash & Equivalents | 0.8% |
BBNNX Performance
Total returns for BBNNX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -0.2% |
| 1 year | 3.0% |
| 3 years (annualised) | 5.4% |
| 5 years (annualised) | 1.0% |
BBNNX Risk Information
Risk metrics for BBNNX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.4%
BBNNX Costs and Fees
BBNNX costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 0.70%
- Portfolio turnover: 42%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
BBNNX Cashflows
Over the 12 months to 2026-04, BBH Income Fund had net inflows of $775.90M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $188.23M |
| 2026-03 | $23.34M |
| 2026-02 | $102.92M |
| 2026-01 | $78.09M |
| 2025-12 | $29.32M |
| 2025-11 | $26.90M |
BBNNX Debt Constituents
Largest debt holdings of BBH Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| US Treas Nts 3.375% 05/15/33 | 2.53% |
| US Treas Nts 4.25% 08/15/35 | 2.43% |
| US Treas Bds 1.75% 08/15/41 | 2.34% |
| US Treas Bds 3.375% 11/15/48 | 2.26% |
| US Treas Bds 3.875% 02/15/43 | 2.00% |
| US Treas Bds 2.875% 08/15/45 | 1.33% |
| US Treas Bds 1.375% 08/15/50 | 1.10% |
| US Treas Bds 3.625% 02/15/53 | 1.01% |
| US Treas Bds 4.625% 11/15/45 | 0.76% |
| Amazon.com, Inc. 5.1% 07/09/33 | 0.67% |
BBNNX Prospectus and SEC Filings
Official BBH Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus supplement (497) — filed 2025-12-31
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-30
- Annual census (N-CEN) — filed 2026-01-14
- Annual census (N-CEN) — filed 2025-01-14
Related Funds
Other Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.