<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0001034106
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FEDERATED CORE TRUST
001 B000000 811-008519
001 C000000 4122886653
002 A000000 FEDERATED INVESTORS TOWERS
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
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007 C020100 HIGH YIELD BOND PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 FEDERATED MORTGAGE CORE PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FEDERATED INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-34612
008 D01AA01 PITTSBURGH
008 D02AA01 PA
008 D03AA01 15222
008 D04AA01 3779
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITES CORP.
011 B00AA01 8-15561
<PAGE> PAGE 2
011 C01AA01 PITTBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDERS SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
013 B04AA01 5072
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
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018 00AA00 Y
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020 C000001 3
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020 C000002 3
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020 B000003 22-2347336
020 C000003 1
020 A000004 BERNSTEIN SANFORD C & CO.
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022 A000002 SALOMON SMITH BARNEY INC.
022 C000002 946795
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<PAGE> PAGE 3
022 D000003 2625
022 A000004 BEAR STEARNS SECURITIES
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022 C000004 740854
022 D000004 39945
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022 D000005 5138
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<PAGE> PAGE 4
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
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077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
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080 B00AA00 ZURICH INSURANCE CO.; RELIANCE INSURANCE CO.
080 C00AA00 70000
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<PAGE> PAGE 5
028 A040100 10000
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030 C000100 0.00
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031 B000100 0
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040 000100 N
041 000100 N
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042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
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<PAGE> PAGE 6
044 000100 0
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055 B000100 N
056 000100 N
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<PAGE> PAGE 7
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070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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056 000200 N
057 000200 N
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<PAGE> PAGE 11
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070 A010200 Y
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070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
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070 M020200 N
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<PAGE> PAGE 12
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070 R020200 N
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<PAGE> PAGE 13
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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001034106
<NAME> Federated Core Trust
<SERIES>
<NUMBER> 010
<NAME> High Yield Bond Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 741,854,780
<INVESTMENTS-AT-VALUE> 686,093,178
<RECEIVABLES> 13,140,278
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 25,007
<TOTAL-ASSETS> 699,258,463
<PAYABLE-FOR-SECURITIES> 159,495
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,818
<TOTAL-LIABILITIES> 170,313
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 757,084,398
<SHARES-COMMON-STOCK> 80,183,474
<SHARES-COMMON-PRIOR> 60,385,120
<ACCUMULATED-NII-CURRENT> 315,019
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,549,665)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (55,761,602)
<NET-ASSETS> 699,088,150
<DIVIDEND-INCOME> 2,056,261
<INTEREST-INCOME> 64,696,537
<OTHER-INCOME> 0
<EXPENSES-NET> (193,560)
<NET-INVESTMENT-INCOME> 66,559,238
<REALIZED-GAINS-CURRENT> (2,548,935)
<APPREC-INCREASE-CURRENT> (41,732,682)
<NET-CHANGE-FROM-OPS> 22,277,621
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (66,396,829)
<DISTRIBUTIONS-OF-GAINS> (1,290,889)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23,276,427
<NUMBER-OF-SHARES-REDEEMED> (10,972,164)
<SHARES-REINVESTED> 7,494,091
<NET-CHANGE-IN-ASSETS> 182,692,337
<ACCUMULATED-NII-PRIOR> 29,810
<ACCUMULATED-GAINS-PRIOR> 1,412,959
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 691,474
<AVERAGE-NET-ASSETS> 661,239,786
<PER-SHARE-NAV-BEGIN> 9.300
<PER-SHARE-NII> 0.910
<PER-SHARE-GAIN-APPREC> (0.560)
<PER-SHARE-DIVIDEND> (0.910)
<PER-SHARE-DISTRIBUTIONS> (0.020)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.720
<EXPENSE-RATIO> 0.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001034106
<NAME> Federated Core Trust
<SERIES>
<NUMBER> 020
<NAME> Federated Mortgage Core Portfolio
<S> <C>
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<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-END> Dec-31-1999
<INVESTMENTS-AT-COST> 309,856,534
<INVESTMENTS-AT-VALUE> 303,432,310
<RECEIVABLES> 6,879,789
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<OTHER-ITEMS-ASSETS> 4,372
<TOTAL-ASSETS> 310,316,471
<PAYABLE-FOR-SECURITIES> 15,440,321
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<OTHER-ITEMS-LIABILITIES> 36,572,151
<TOTAL-LIABILITIES> 52,012,472
<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 27,041,359
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 42,707
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,277,479)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,424,224)
<NET-ASSETS> 258,303,999
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,518,228
<OTHER-INCOME> 0
<EXPENSES-NET> (106,022)
<NET-INVESTMENT-INCOME> 14,412,206
<REALIZED-GAINS-CURRENT> (4,277,479)
<APPREC-INCREASE-CURRENT> (6,424,224)
<NET-CHANGE-FROM-OPS> 3,710,503
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,369,499)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,597,363
<NUMBER-OF-SHARES-REDEEMED> (12,031,972)
<SHARES-REINVESTED> 1,475,968
<NET-CHANGE-IN-ASSETS> 258,303,999
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 278,340
<AVERAGE-NET-ASSETS> 252,351,909
<PER-SHARE-NAV-BEGIN> 10.000
<PER-SHARE-NII> 0.550
<PER-SHARE-GAIN-APPREC> (0.450)
<PER-SHARE-DIVIDEND> (0.550)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.550
<EXPENSE-RATIO> 0.05
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
Report of Independent Auditors
To the Shareholders and Board of Trustees of
Federated Core Trust:
In planning and performing our audit of the financial statements
of Federated Core Trust (comprised of Federated Mortgage Core
Portfolio and High Yield Bond Portfolio) for the year ended
December 31, 1999, we considered its internal control,
including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance
on internal control.
The management of Federated Core Trust is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or
fraud may occur and not be detected. Also, projection of
any evaluation of internal control to future periods is
subject to the risk that it may become inadequate because
of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be
material weaknesses under standards established by the
American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or
operation of one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that
would be material in relation to the financial statements
being audited may occur and not be detected within a
timely period by employees in the normal course of
performing their assigned functions. However, we noted
no matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above at
December 31, 1999.
This report is intended solely for the information and use
of management, the Board of Trustees of Federated Core
Trust, and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other
than these specified parties.
??
Boston, Massachusetts
February 16, 2000
