Mutual Funds
Pro-Blend® Maximum Term Series
Investment Objective
To provide long-term capital growth.
Investment Strategy
The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in fixed income securities.
The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.
May be Appropriate for Investors
- Who seek long-term capital growth and generally have the time to withstand market volatility
- Who have a very high capital risk tolerance
About Risk-Based Funds
Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.
Time Horizon & Range of Stock Exposure
| Conservative Term | Moderate Term | Extended Term | Maximum Term |
| 0-5 Years | 3-10 Years | 7-20 Years | 15+ Years |
| 5-35% | 20-60% | 40-70% | 70-95% |
Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.
Daily Price
$24.92
Daily $ Change
$0.15
Daily % Change
0.60%
as of 05/09/2024
Ticker
MNHWX
CUSIP
56382R290
Inception Date
04/01/2019
This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Applications & Forms | |
| N-Port Part F Reports |
YTD
0.63%
1 Year
9.70%
3 Year
1.84%
5 Year
9.70%
10 Year
8.08%
Inception
(04/01/2019)
9.09%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Inception performance is based on the Pro-Blend® Maximum Term Series Class S inception of 11/01/1995. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio.
Expense Ratio
| Gross | 0.82% |
| Net | 0.11%* |
*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.
| TREASURY NOTES | 9.21% |
| AMAZON.COM INC | 3.89% |
| ALPHABET INC-CL A | 3.34% |
| MASTERCARD INC-CLASS A | 2.63% |
| META PLATFORMS INC | 2.59% |
| L3HARRIS TECHNOLOGIES INC | 2.55% |
| TREASURY BONDS | 2.50% |
| ASTRAZENECA | 2.44% |
| JOHNSON & JOHNSON | 2.44% |
| VISA INC - CLASS A SHARES | 2.33% |
This investment list is unaudited and excludes cash.
| Stocks | 81.16% | |
| Bonds | 17.01% | |
| Cash | 1.83% |
| International Equities | 19.01% | |
| Small Capitalization | 0.19% | |
| Mid Capitalization | 5.12% | |
| Large Capitalization | 56.85% | |
| Long Term Fixed Income | 3.07% | |
| Intermediate Term Fixed Income | 12.66% | |
| Short Term Fixed Income | 1.27% | |
| Cash | 1.83% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 1,229 | $118,610.79 |
| ADMIRAL GROUP PLC | GB | ADM LN | 16,951 | $576,963.58 |
| ADMIRAL GROUP PLC ADR | GB | AMIGY | 62,063 | $2,111,389.47 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 560,000 | $499,528.47 | |
| AGREE REALTY CORP | US | ADC | 2,595 | $148,485.90 |
| AIR LIQUIDE | FR | AI FP | 2,149 | $420,298.45 |
| AIRBUS SE | FR | AIR FP | 2,879 | $473,761.80 |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 41,425.16 | $41,812.08 | |
| ALCON INC | CH | ALC | 49,868 | $3,868,759.44 |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 300,000 | $242,638.52 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 1,170,000 | $972,400.41 | |
| ALLEGION PLC | IE | ALLE | 310 | $37,683.60 |
| ALPHABET INC-CL A | US | GOOGL | 90,182 | $14,679,825.96 |
| AMAZON.COM INC | US | AMZN | 97,603 | $17,080,525.00 |
| AMERICAN HEALTHCARE REIT INC | US | AHR | 5,639 | $77,423.47 |
| AMERICAN HOMES 4 RENT- A | US | AMH | 5,301 | $189,775.80 |
| AMERICAN TOWER REIT INC | US | AMT | 1,256 | $215,479.36 |
| AMERICOLD REALTY TRUST | US | COLD | 4,242 | $93,196.74 |
| ANALOG DEVICES INC | US | ADI | 986 | $197,801.46 |
| APPLIED MATERIALS INC | US | AMAT | 24,067 | $4,780,909.55 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 1,370 | $80,364.20 |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 540,000 | $503,822.67 | |
| ASTRAZENECA | GB | AZN | 141,444 | $10,732,770.72 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 1,371 | $236,223.30 |
| AUCKLAND INTL AIRPORT LTD | NZ | AIA NZ | 62,932 | $291,099.05 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 38,091 | $330,229.18 |
| AVALONBAY COMMUNITIES INC | US | AVB | 1,335 | $253,075.95 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 7,991 | $171,247.43 |
| BAE SYSTEMS PLC | GB | BA/ LN | 22,392 | $372,428.59 |
| BAE SYSTEMS PLC -SPON ADR | GB | BAESY | 31,296 | $2,108,411.52 |
| BANK OF AMERICA CORP | US | BAC | 9,790 | $362,327.90 |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 900,000 | $741,740.09 | |
| BECTON DICKINSON & CO | US | BDX | 567 | $133,018.20 |
| BEIERSDORF AG | DE | BEI GR | 3,421 | $514,188.63 |
| BEST BUY INC | US | BBY | 682 | $50,222.48 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 51,919 | $4,192,978.44 |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 240,000 | $237,346.98 | |
| BORR IHC LTD 10.00000 11/15/2028 | MUL | 210,000 | $217,237.51 | |
| BOSTON SCIENTIFIC CORP | US | BSX | 31,242 | $2,245,362.54 |
| BRENNTAG AG | DE | BNR GR | 2,457 | $196,076.97 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 3,655 | $160,600.70 |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 223,383 | $157,215.81 | |
| BUNGE LIMITED | US | BG | 480 | $48,844.80 |
| CAMPBELL SOUP CO | US | CPB | 1,054 | $48,178.34 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 35,582 | $4,321,078.08 |
| CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 | US | 1,050,000 | $1,035,421.57 | |
| CARETRUST REIT INC | US | CTRE | 4,696 | $116,085.12 |
| CATERPILLAR INC | US | CAT | 916 | $306,466.12 |
| CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 4,290.3 | $3,793.91 | |
| CELLNEX TELECOM SA | ES | CLNX SM | 7,385 | $244,108.91 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 169,247 | $2,784,113.15 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 740,000 | $778,659.29 | |
| CF INDUSTRIES HOLDINGS INC | US | CF | 615 | $48,566.55 |
| CHESAPEAKE ENERGY CORP | US | CHK | 470 | $42,243.60 |
| CHEVRON CORP | US | CVX | 2,224 | $358,664.48 |
| CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 300.8 | $280.98 | |
| CINCINNATI FINANCIAL CORP | US | CINF | 481 | $55,646.89 |
| CISCO SYSTEMS INC | US | CSCO | 5,754 | $270,322.92 |
| CITIGROUP INC | US | C | 3,611 | $221,462.63 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 820,000 | $750,635.15 | |
| CITIZENS BANK NA RI FLT 4.57500 08/09/2028 | US | 500,000 | $473,415.04 | |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 179,039 | $309,732.33 |
| COCA COLA CO/THE | US | KO | 122,773 | $7,583,688.21 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 1,254 | $82,362.72 |
| CONAGRA BRAND INC. | US | CAG | 1,647 | $50,694.66 |
| CONOCOPHILLIPS | US | COP | 1,800 | $226,116.00 |
| CONSTELLATION BRANDS INC-A | US | STZ | 27,516 | $6,974,205.36 |
| COPART INC | US | CPRT | 69,737 | $3,787,416.47 |
| COTERRA ENERGY INC | US | CTRA | 2,286 | $62,544.96 |
| CROWN CASTLE INTL CORP | US | CCI | 1,120 | $105,033.60 |
| CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 1,888.3 | $1,573.82 | |
| CSMC 2014-IVR3 A1 3.50000 07/25/2044 | US | 2,531.45 | $2,255.63 | |
| CSX CORP | US | CSX | 104,449 | $3,469,795.78 |
| CUMMINS INC | US | CMI | 392 | $110,736.08 |
| DEERE & CO | US | DE | 473 | $185,136.93 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 3,201 | $617,127.16 |
| DEUTSCHE BOERSE AG ADR | DE | DBOEY | 151,114 | $2,907,433.36 |
| DICK'S SPORTING GOODS INC | US | DKS | 263 | $52,847.22 |
| DIGITAL REALTY TRUST INC | US | DLR | 961 | $133,367.58 |
| DIGITALBRIDGE GROUP INC | US | DBRG | 5,901 | $97,012.44 |
| DOLLARAMA INC | CA | DOL CN | 5,439 | $453,720.82 |
| DREYFUS GVT CSH MANAGEMENT | US | 8,203,201.15 | $8,203,201.15 | |
| EAST WEST BANCORP INC | US | EWBC | 515 | $38,362.35 |
| EBAY INC | US | EBAY | 1,442 | $74,320.68 |
| ELECTRONIC ARTS | US | EA | 69,733 | $8,843,539.06 |
| ENERGY TRANSFER LP 7.37500 02/01/2031 | US | 485,000 | $499,991.66 | |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 725,000 | $734,557.63 | |
| EQUINIX INC | US | EQIX | 7,368 | $5,239,458.48 |
| EQUITY COMMONWEALTH | US | EQC | 6,220 | $116,438.40 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 3,433 | $206,975.57 |
| EQUITY RESIDENTIAL | US | EQR | 2,980 | $191,912.00 |
| EVEREST RE GROUP LTD | BM | EG | 139 | $50,930.99 |
| EVERGY INC | US | EVRG | 110,514 | $5,796,459.30 |
| EXPERIAN GROUP LTD-SPON ADR | IE | EXPGY | 70,149 | $2,841,034.50 |
| EXPERIAN PLC | IE | EXPN LN | 8,326 | $335,820.42 |
| EXTRA SPACE STORAGE INC | US | EXR | 1,538 | $206,522.64 |
| EXXON MOBIL CORP | US | XOM | 2,931 | $346,649.37 |
| FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 3,103.59 | $3,185.92 | |
| FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 | US | 7,754.78 | $7,825.72 | |
| FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 2,139.58 | $2,046.78 | |
| FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 2,993.73 | $2,902.87 | |
| FEDEX CORPORATION | US | FDX | 501 | $131,151.78 |
| FHLM POOL C91762 4.50000 05/01/2034 | US | 2,047.17 | $1,986.90 | |
| FHLM POOL C91771 4.50000 06/01/2034 | US | 1,859.58 | $1,804.05 | |
| FHLM POOL C91780 4.50000 07/01/2034 | US | 2,581.93 | $2,506.76 | |
| FIFTH THIRD BANCORP | US | FITB | 2,013 | $73,393.98 |
| FINECOBANK SPA | IT | FBK IM | 12,789 | $195,924.50 |
| FIRST INDUSTRIAL REALTY TR | US | FR | 1,438 | $65,313.96 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 8,028 | $121,383.36 |
| FOX CORP CLASS A | US | FOXA | 1,512 | $46,887.12 |
| GENERAL MLS INC | US | GIS | 1,379 | $97,164.34 |
| GENUINE PARTS CO | US | GPC | 450 | $70,744.50 |
| GILEAD SCIENCES INC | US | GILD | 2,402 | $156,610.40 |
| GLOBANT SA | LU | GLOB | 1,509 | $269,492.31 |
| GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 2,310.04 | $2,067.57 | |
| GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 | US | 135,000 | $113,488.07 | |
| GOODMAN GROUP | AU | GMG AU | 5,346 | $107,987.23 |
| HALLIBURTON CO | US | HAL | 2,288 | $85,731.36 |
| HALMA PLC | GB | HLMA LN | 18,575 | $509,082.03 |
| HARTFORD FINL SVCS | US | HIG | 787 | $76,252.43 |
| HDFC BANK LTD-ADR | IN | HDB | 63,519 | $3,658,694.40 |
| HEICO CORP-CL A | US | HEI/A | 12,630 | $2,094,685.50 |
| HEINEKEN NV | NL | HEIA NA | 6,162 | $599,683.42 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 91,913 | $4,479,839.62 |
| HELIOS TOWERS PLC | GB | HTWS LN | 68,780 | $83,980.83 |
| HERSHEY CO/THE | US | HSY | 494 | $95,796.48 |
| HF SINCLAIR CORP | US | DINO | 700 | $37,975.00 |
| HONEYWELL INTERNATIONAL INC | US | HON | 1,152 | $222,024.96 |
| HUMANA INC | US | HUM | 20,985 | $6,339,358.65 |
| HUNTINGTON BANCSHARES | US | HBAN | 4,487 | $60,439.89 |
| HUNTINGTON BANCSHARES 2.55000 02/04/2030 | US | 570,000 | $475,094.67 | |
| HUNTINGTON INGALLS INDUSTRIE | US | HII | 141 | $39,047.13 |
| IDEXX LABORATORIES INC | US | IDXX | 5,446 | $2,683,570.96 |
| IIP OPERATING PARTNER 5.50000 05/25/2026 | US | 230,000 | $218,141.68 | |
| IMCD NV | NL | IMCD NA | 3,275 | $494,114.02 |
| INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 | AU | 215,000 | $222,106.76 | |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 59,387 | $7,646,670.12 |
| INTERMEDIATE CAPITAL GROUP | GB | ICG LN | 14,610 | $380,793.70 |
| INTERNATIONAL PAPER CO | US | IP | 1,207 | $42,172.58 |
| INTERPUBLIC GROUP COS INC | US | IPG | 1,314 | $39,998.16 |
| INTUIT INC | US | INTU | 5,902 | $3,692,409.24 |
| INTUITIVE SURGICAL INC | US | ISRG | 10,143 | $3,759,198.66 |
| INVITATION HOMES INC | US | INVH | 9,322 | $318,812.40 |
| JEFFERIES FIN GROUP INC 6.20000 04/14/2034 | US | 740,000 | $731,278.55 | |
| JOHNSON & JOHNSON | US | JNJ | 74,076 | $10,710,648.84 |
| JP MORGAN CHASE & CO | US | JPM | 16,776 | $3,216,630.24 |
| JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 1,465.62 | $1,401.16 | |
| JPMMT 2017-2 A3 3.50000 05/25/2047 | US | 5,219.83 | $4,538.65 | |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 1,310,000 | $1,240,038.78 | |
| KENVUE INC | US | KVUE | 4,707 | $88,585.74 |
| KEY BANK NA 5.85000 11/15/2027 | US | 480,000 | $470,968.91 | |
| KEYENCE CORP | JP | 6861 JP | 800 | $351,815.89 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 8,716 | $124,457.33 |
| KIMBERLY CLARK CORP | US | KMB | 763 | $104,172.39 |
| KRAFT HEINZ CO/THE | US | KHC | 2,780 | $107,335.80 |
| L'OREAL | FR | OR FP | 206 | $96,583.75 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 52,319 | $11,198,881.95 |
| LEXINGTON REALTY TRUST | US | LXP | 17,805 | $148,671.75 |
| LKQ CORP | US | LKQ | 901 | $38,860.13 |
| LOCKHEED MARTIN CORP | US | LMT | 419 | $194,805.67 |
| LONZA GROUP AG -REG | CH | LONN SW | 847 | $467,538.64 |
| LONZA GROUP AG ADR | CH | LZAGY | 69,809 | $3,862,531.97 |
| MARATHON OIL CORP | US | MRO | 1,887 | $50,665.95 |
| MARATHON PETROLEUM CORP | US | MPC | 843 | $153,189.96 |
| MARRIOTT VACATIONS WORLD | US | VAC | 738 | $70,929.18 |
| MASCO CORP | US | MAS | 68,839 | $4,712,029.55 |
| MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 | US | 250,000 | $243,951.78 | |
| MASTERCARD INC-CLASS A | US | MA | 25,579 | $11,541,244.80 |
| MEDTRONIC INC | IE | MDT | 51,837 | $4,159,400.88 |
| MERCADOLIBRE INC | BR | MELI | 1,834 | $2,675,255.80 |
| MET LIFE GLOB FUNDING I 4.85000 01/08/2029 | US | 250,000 | $243,792.51 | |
| META PLATFORMS INC | US | META | 26,481 | $11,391,331.77 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 1,248 | $114,791.04 |
| MICRON TECHNOLOGY INC | US | MU | 69,723 | $7,875,910.08 |
| MICROSOFT CORP | US | MSFT | 24,316 | $9,466,948.28 |
| MID-AMERICA APARTMENT COMM | US | MAA | 596 | $77,480.00 |
| MOLSON COORS BREWING CO -B | US | TAP | 715 | $40,940.90 |
| MONARCH CASINO & RESORT INC | US | MCRI | 1,795 | $121,647.15 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 53,551 | $3,852,458.94 |
| MOODY'S CORPORATION | US | MCO | 21,964 | $8,133,928.12 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 235,000 | $234,469.55 | |
| NESTLE S.A. - ADR | CH | NSRGY | 61,106 | $6,147,263.60 |
| NESTLE SA-REGISTERED | CH | NESN SW | 5,020 | $504,008.99 |
| NEW FORTRESS ENERGY INC 8.75000 03/15/2029 | US | 230,000 | $224,152.52 | |
| NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 | US | 250,000 | $243,424.86 | |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 347,560.63 | $325,006.85 | |
| NORFOLK SOUTHN CORP | US | NSC | 8,100 | $1,865,592.00 |
| NORTHROP GRUMMAN CORP | US | NOC | 8,680 | $4,210,060.40 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 220,000 | $2.20 | |
| NOVARTIS AG- REG | CH | NVS | 33,486 | $3,252,495.18 |
| NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 | US | 480,000 | $500,494.20 | |
| NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 1,923.74 | $1,760.85 | |
| NRZT 2015-2A A1 3.75000 08/25/2055 | US | 2,638.89 | $2,412.23 | |
| NRZT 2016-4A A1 3.75000 11/25/2056 | US | 2,921.89 | $2,657.51 | |
| NSLT 2012-3A A MTGE FLT 6.14450 03/26/2040 | US | 7,089.13 | $7,069.69 | |
| NVIDIA CORP | US | NVDA | 4,111 | $3,551,986.22 |
| OMNICOM GROUP | US | OMC | 673 | $62,481.32 |
| OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 | US | 200,000 | $198,623.61 | |
| OVINTIV INC | US | OVV | 919 | $47,163.08 |
| OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 3,010.47 | $2,964.46 | |
| OXFINF 2024-A A2 6.67500 01/14/2032 | US | 50,000 | $49,514.55 | |
| PACCAR INC | US | PCAR | 1,042 | $110,566.62 |
| PALOMINO FUNDING TRUST I 7.23300 05/17/2028 | US | 640,000 | $659,934.72 | |
| PELORUS FUND REIT 7.00000 09/30/2026 | US | 245,000 | $238,628.04 | |
| PENSKE AUTOMOTIVE GROUP INC | US | PAG | 250 | $38,227.50 |
| PERMIAN RESOURCES CORP | US | PR | 2,571 | $43,064.25 |
| PHILIP MORRIS INTERNATIONAL | US | PM | 53,494 | $5,078,720.36 |
| PHILLIPS 66 | US | PSX | 860 | $123,160.60 |
| PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 3,074.48 | $2,731.17 | |
| PNC FINANCIAL SERVICES FLT 5.81200 06/12/2026 | US | 280,000 | $279,885.75 | |
| PNC FINANCIAL SERVICES GROUP | US | PNC | 834 | $127,818.84 |
| PPG INDUSTRIES INC | US | PPG | 608 | $78,432.00 |
| PROLOGIS | US | PLD | 6,668 | $680,469.40 |
| PUBLIC STORAGE INC | US | PSA | 1,187 | $307,967.15 |
| QUEST DIAGNOSTICS INC | US | DGX | 380 | $52,508.40 |
| RALPH LAUREN CORP | US | RL | 239 | $39,109.96 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 2,118 | $215,019.36 |
| REALTY INCOME CORP | US | O | 2,166 | $115,967.64 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 4,484 | $191,960.04 |
| ROLLINS INC | US | ROL | 42,778 | $1,906,187.68 |
| ROYALTY PHARMA PLC- CL A | US | RPRX | 1,891 | $52,380.70 |
| S&P GLOBAL INC | US | SPGI | 13,931 | $5,792,927.73 |
| SALESFORCE INC | US | CRM | 21,291 | $5,726,001.54 |
| SBA COMMUNICATIONS CORP | US | SBAC | 20,510 | $3,817,321.20 |
| SBA TOWER TRUST 6.59900 01/15/2028 | US | 405,000 | $410,937.79 | |
| SCHLUMBERGER LTD | US | SLB | 2,857 | $135,650.36 |
| SCML 2019-SBC8 2.86000 04/25/2041 | US | 7,285.1 | $6,707.14 | |
| SEMT 2013-2 1.87400 02/25/2043 | US | 1,124.31 | $925.45 | |
| SEMT 2013-6 A2 3.00000 05/25/2043 | US | 3,147.58 | $2,714.73 | |
| SEMT 2013-8 A1 3.00000 06/25/2043 | US | 1,376.14 | $1,193.13 | |
| SERVICENOW INC | US | NOW | 8,554 | $5,930,744.82 |
| SIMON PROPERTY 2.25000 01/15/2032 | US | 980,000 | $777,684.14 | |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 890,000 | $726,041.03 | |
| SIRIUSPOINT LTD 7.00000 04/05/2029 | BM | 510,000 | $510,595.59 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 518 | $55,213.62 |
| SMITH (A.O.) CORP | US | AOS | 494 | $40,922.96 |
| SNAP-ON INC | US | SNA | 173 | $46,357.08 |
| SOFTCAT PLC | GB | SCT LN | 13,124 | $256,880.17 |
| SOLVENTUM CORP | US | SOLV | .25 | $16.25 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 5,200 | $429,787.12 |
| SONY CORP SPONSORED ADR | JP | SONY | 39,493 | $3,260,937.01 |
| SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 | US | 14,572.46 | $9,045.79 | |
| SS&C TECHNOLOGIES HOLDINGS | US | SSNC | 802 | $49,635.78 |
| SUN COMMUNITIES | US | SUI | 2,623 | $291,992.36 |
| SYSCO CORP | US | SYY | 1,215 | $90,298.80 |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 58,808 | $8,076,690.72 |
| TAPESTRY INC | US | TPR | 865 | $34,530.80 |
| TE CONNECTIVITY LIMITED | CH | TEL | 719 | $101,724.12 |
| TECHTRONIC INDUSTRIES CO LTD | HK | 669 HK | 43,000 | $594,229.99 |
| TECHTRONIC INDUSTRIES-SP ADR | HK | TTNDY | 30,170 | $2,085,350.40 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 1,565,000 | $1,461,686.20 | |
| TENCENT HOLDINGS LTD | CN | 700 HK | 12,900 | $566,093.29 |
| TERRENO REALTY CORP | US | TRNO | 3,456 | $187,833.60 |
| THE MOSAIC CO | US | MOS | 1,237 | $38,829.43 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 9,155 | $5,206,631.60 |
| TPMT 2016-5 A1 2.50000 10/25/2056 | US | 22.12 | $22.03 | |
| TPMT 2019-HY1 A1 6.43133 10/25/2048 | US | 2,835.19 | $2,877.53 | |
| TRAVELLERS COS INC | US | TRV | 555 | $117,748.80 |
| TREASURY BOND 2.37500 02/15/2042 | US | 12,789,000 | $8,960,293.13 | |
| TRUIST FINANCIAL CORP | US | TFC | 3,016 | $113,250.80 |
| TRUIST FINANCIAL CORP FLT 1.88700 06/07/2029 | US | 830,000 | $708,790.93 | |
| TSY INFL IX N/B 0.12500 01/15/2031 | US | 2,986,235.55 | $2,593,475.58 | |
| TUTOR PERINI CORP 11.87500 04/30/2029 | US | 230,000 | $235,471.54 | |
| U.S. BANCORP | US | USB | 3,210 | $130,422.30 |
| UDR INC | US | UDR | 2,115 | $80,539.20 |
| UNION PAC CORP | US | UNP | 11,890 | $2,819,832.40 |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 29,383.83 | $28,078.15 | |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 233,751.06 | $215,268.38 | |
| UNITED STATES TREAS NTS 2.25000 11/15/2024 | US | 4,384,000 | $4,311,732.52 | |
| UNITEDHEALTH GROUP INC | US | UNH | 15,961 | $7,720,335.70 |
| US BANCORP FLT 4.65300 02/01/2029 | US | 740,000 | $713,108.50 | |
| US TEASURY NOTE 1.75000 11/15/2029 | US | 11,281,000 | $9,692,846.72 | |
| US TREASURY N/B 0.87500 11/15/2030 | US | 22,985,000 | $18,097,096.09 | |
| US TREASURY N/B 3.12500 11/15/2028 | US | 8,968,000 | $8,371,768.17 | |
| US TREASURY N/B 3.62500 02/15/2053 | US | 2,486,000 | $2,029,585.94 | |
| VAIL RESORTS INC | US | MTN | 26,094 | $4,941,420.78 |
| VALERO ENERGY | US | VLO | 710 | $113,507.70 |
| VENTAS INC | US | VTR | 2,551 | $112,958.28 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 7,068 | $2,776,381.08 |
| VIATRIS INC | US | VTRS | 4,015 | $46,453.55 |
| VISA INC - CLASS A SHARES | US | V | 38,093 | $10,232,160.73 |
| WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 | US | 810,000 | $738,391.84 | |
| WELLS FARGO & COMPANY 5.70700 04/22/2028 | US | 700,000 | $701,034.57 | |
| WELLS FARGO COMPANY | US | WFC | 4,909 | $291,201.88 |
| WELLTOWER INC. | US | WELL | 3,563 | $339,482.64 |
| WESTROCK CO | US | WRK | 891 | $42,732.36 |
| WILLIAMS - SONOMA INC | US | WSM | 191 | $54,774.98 |
| WR BERKLEY CORP | US | WRB | 745 | $57,342.65 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.
Daily Price
$24.92
Daily $ Change
$0.15
Daily % Change
0.60%
as of 05/09/2024
Ticker
MNHWX
CUSIP
56382R290
Inception Date
04/01/2019
This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Applications & Forms | |
| N-Port Part F Reports |
Investment Objective
To provide long-term capital growth.
Investment Strategy
The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in fixed income securities.
The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.
May be Appropriate for Investors
- Who seek long-term capital growth and generally have the time to withstand market volatility
- Who have a very high capital risk tolerance
About Risk-Based Funds
Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.
Time Horizon & Range of Stock Exposure
| Conservative Term | Moderate Term | Extended Term | Maximum Term |
| 0-5 Years | 3-10 Years | 7-20 Years | 15+ Years |
| 5-35% | 20-60% | 40-70% | 70-95% |
Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.
YTD
0.63%
1 Year
9.70%
3 Year
1.84%
5 Year
9.70%
10 Year
8.08%
Inception
(04/01/2019)
9.09%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Inception performance is based on the Pro-Blend® Maximum Term Series Class S inception of 11/01/1995. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio.
Expense Ratio
| Gross | 0.82% |
| Net | 0.11%* |
*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.
| TREASURY NOTES | 9.21% |
| AMAZON.COM INC | 3.89% |
| ALPHABET INC-CL A | 3.34% |
| MASTERCARD INC-CLASS A | 2.63% |
| META PLATFORMS INC | 2.59% |
| L3HARRIS TECHNOLOGIES INC | 2.55% |
| TREASURY BONDS | 2.50% |
| ASTRAZENECA | 2.44% |
| JOHNSON & JOHNSON | 2.44% |
| VISA INC - CLASS A SHARES | 2.33% |
This investment list is unaudited and excludes cash.
| Stocks | 81.16% | |
| Bonds | 17.01% | |
| Cash | 1.83% |
| International Equities | 19.01% | |
| Small Capitalization | 0.19% | |
| Mid Capitalization | 5.12% | |
| Large Capitalization | 56.85% | |
| Long Term Fixed Income | 3.07% | |
| Intermediate Term Fixed Income | 12.66% | |
| Short Term Fixed Income | 1.27% | |
| Cash | 1.83% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 1,229 | $118,610.79 |
| ADMIRAL GROUP PLC | GB | ADM LN | 16,951 | $576,963.58 |
| ADMIRAL GROUP PLC ADR | GB | AMIGY | 62,063 | $2,111,389.47 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 560,000 | $499,528.47 | |
| AGREE REALTY CORP | US | ADC | 2,595 | $148,485.90 |
| AIR LIQUIDE | FR | AI FP | 2,149 | $420,298.45 |
| AIRBUS SE | FR | AIR FP | 2,879 | $473,761.80 |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 41,425.16 | $41,812.08 | |
| ALCON INC | CH | ALC | 49,868 | $3,868,759.44 |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 300,000 | $242,638.52 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 1,170,000 | $972,400.41 | |
| ALLEGION PLC | IE | ALLE | 310 | $37,683.60 |
| ALPHABET INC-CL A | US | GOOGL | 90,182 | $14,679,825.96 |
| AMAZON.COM INC | US | AMZN | 97,603 | $17,080,525.00 |
| AMERICAN HEALTHCARE REIT INC | US | AHR | 5,639 | $77,423.47 |
| AMERICAN HOMES 4 RENT- A | US | AMH | 5,301 | $189,775.80 |
| AMERICAN TOWER REIT INC | US | AMT | 1,256 | $215,479.36 |
| AMERICOLD REALTY TRUST | US | COLD | 4,242 | $93,196.74 |
| ANALOG DEVICES INC | US | ADI | 986 | $197,801.46 |
| APPLIED MATERIALS INC | US | AMAT | 24,067 | $4,780,909.55 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 1,370 | $80,364.20 |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 540,000 | $503,822.67 | |
| ASTRAZENECA | GB | AZN | 141,444 | $10,732,770.72 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 1,371 | $236,223.30 |
| AUCKLAND INTL AIRPORT LTD | NZ | AIA NZ | 62,932 | $291,099.05 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 38,091 | $330,229.18 |
| AVALONBAY COMMUNITIES INC | US | AVB | 1,335 | $253,075.95 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 7,991 | $171,247.43 |
| BAE SYSTEMS PLC | GB | BA/ LN | 22,392 | $372,428.59 |
| BAE SYSTEMS PLC -SPON ADR | GB | BAESY | 31,296 | $2,108,411.52 |
| BANK OF AMERICA CORP | US | BAC | 9,790 | $362,327.90 |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 900,000 | $741,740.09 | |
| BECTON DICKINSON & CO | US | BDX | 567 | $133,018.20 |
| BEIERSDORF AG | DE | BEI GR | 3,421 | $514,188.63 |
| BEST BUY INC | US | BBY | 682 | $50,222.48 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 51,919 | $4,192,978.44 |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 240,000 | $237,346.98 | |
| BORR IHC LTD 10.00000 11/15/2028 | MUL | 210,000 | $217,237.51 | |
| BOSTON SCIENTIFIC CORP | US | BSX | 31,242 | $2,245,362.54 |
| BRENNTAG AG | DE | BNR GR | 2,457 | $196,076.97 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 3,655 | $160,600.70 |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 223,383 | $157,215.81 | |
| BUNGE LIMITED | US | BG | 480 | $48,844.80 |
| CAMPBELL SOUP CO | US | CPB | 1,054 | $48,178.34 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 35,582 | $4,321,078.08 |
| CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 | US | 1,050,000 | $1,035,421.57 | |
| CARETRUST REIT INC | US | CTRE | 4,696 | $116,085.12 |
| CATERPILLAR INC | US | CAT | 916 | $306,466.12 |
| CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 4,290.3 | $3,793.91 | |
| CELLNEX TELECOM SA | ES | CLNX SM | 7,385 | $244,108.91 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 169,247 | $2,784,113.15 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 740,000 | $778,659.29 | |
| CF INDUSTRIES HOLDINGS INC | US | CF | 615 | $48,566.55 |
| CHESAPEAKE ENERGY CORP | US | CHK | 470 | $42,243.60 |
| CHEVRON CORP | US | CVX | 2,224 | $358,664.48 |
| CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 300.8 | $280.98 | |
| CINCINNATI FINANCIAL CORP | US | CINF | 481 | $55,646.89 |
| CISCO SYSTEMS INC | US | CSCO | 5,754 | $270,322.92 |
| CITIGROUP INC | US | C | 3,611 | $221,462.63 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 820,000 | $750,635.15 | |
| CITIZENS BANK NA RI FLT 4.57500 08/09/2028 | US | 500,000 | $473,415.04 | |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 179,039 | $309,732.33 |
| COCA COLA CO/THE | US | KO | 122,773 | $7,583,688.21 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 1,254 | $82,362.72 |
| CONAGRA BRAND INC. | US | CAG | 1,647 | $50,694.66 |
| CONOCOPHILLIPS | US | COP | 1,800 | $226,116.00 |
| CONSTELLATION BRANDS INC-A | US | STZ | 27,516 | $6,974,205.36 |
| COPART INC | US | CPRT | 69,737 | $3,787,416.47 |
| COTERRA ENERGY INC | US | CTRA | 2,286 | $62,544.96 |
| CROWN CASTLE INTL CORP | US | CCI | 1,120 | $105,033.60 |
| CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 1,888.3 | $1,573.82 | |
| CSMC 2014-IVR3 A1 3.50000 07/25/2044 | US | 2,531.45 | $2,255.63 | |
| CSX CORP | US | CSX | 104,449 | $3,469,795.78 |
| CUMMINS INC | US | CMI | 392 | $110,736.08 |
| DEERE & CO | US | DE | 473 | $185,136.93 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 3,201 | $617,127.16 |
| DEUTSCHE BOERSE AG ADR | DE | DBOEY | 151,114 | $2,907,433.36 |
| DICK'S SPORTING GOODS INC | US | DKS | 263 | $52,847.22 |
| DIGITAL REALTY TRUST INC | US | DLR | 961 | $133,367.58 |
| DIGITALBRIDGE GROUP INC | US | DBRG | 5,901 | $97,012.44 |
| DOLLARAMA INC | CA | DOL CN | 5,439 | $453,720.82 |
| DREYFUS GVT CSH MANAGEMENT | US | 8,203,201.15 | $8,203,201.15 | |
| EAST WEST BANCORP INC | US | EWBC | 515 | $38,362.35 |
| EBAY INC | US | EBAY | 1,442 | $74,320.68 |
| ELECTRONIC ARTS | US | EA | 69,733 | $8,843,539.06 |
| ENERGY TRANSFER LP 7.37500 02/01/2031 | US | 485,000 | $499,991.66 | |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 725,000 | $734,557.63 | |
| EQUINIX INC | US | EQIX | 7,368 | $5,239,458.48 |
| EQUITY COMMONWEALTH | US | EQC | 6,220 | $116,438.40 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 3,433 | $206,975.57 |
| EQUITY RESIDENTIAL | US | EQR | 2,980 | $191,912.00 |
| EVEREST RE GROUP LTD | BM | EG | 139 | $50,930.99 |
| EVERGY INC | US | EVRG | 110,514 | $5,796,459.30 |
| EXPERIAN GROUP LTD-SPON ADR | IE | EXPGY | 70,149 | $2,841,034.50 |
| EXPERIAN PLC | IE | EXPN LN | 8,326 | $335,820.42 |
| EXTRA SPACE STORAGE INC | US | EXR | 1,538 | $206,522.64 |
| EXXON MOBIL CORP | US | XOM | 2,931 | $346,649.37 |
| FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 3,103.59 | $3,185.92 | |
| FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 | US | 7,754.78 | $7,825.72 | |
| FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 2,139.58 | $2,046.78 | |
| FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 2,993.73 | $2,902.87 | |
| FEDEX CORPORATION | US | FDX | 501 | $131,151.78 |
| FHLM POOL C91762 4.50000 05/01/2034 | US | 2,047.17 | $1,986.90 | |
| FHLM POOL C91771 4.50000 06/01/2034 | US | 1,859.58 | $1,804.05 | |
| FHLM POOL C91780 4.50000 07/01/2034 | US | 2,581.93 | $2,506.76 | |
| FIFTH THIRD BANCORP | US | FITB | 2,013 | $73,393.98 |
| FINECOBANK SPA | IT | FBK IM | 12,789 | $195,924.50 |
| FIRST INDUSTRIAL REALTY TR | US | FR | 1,438 | $65,313.96 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 8,028 | $121,383.36 |
| FOX CORP CLASS A | US | FOXA | 1,512 | $46,887.12 |
| GENERAL MLS INC | US | GIS | 1,379 | $97,164.34 |
| GENUINE PARTS CO | US | GPC | 450 | $70,744.50 |
| GILEAD SCIENCES INC | US | GILD | 2,402 | $156,610.40 |
| GLOBANT SA | LU | GLOB | 1,509 | $269,492.31 |
| GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 2,310.04 | $2,067.57 | |
| GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 | US | 135,000 | $113,488.07 | |
| GOODMAN GROUP | AU | GMG AU | 5,346 | $107,987.23 |
| HALLIBURTON CO | US | HAL | 2,288 | $85,731.36 |
| HALMA PLC | GB | HLMA LN | 18,575 | $509,082.03 |
| HARTFORD FINL SVCS | US | HIG | 787 | $76,252.43 |
| HDFC BANK LTD-ADR | IN | HDB | 63,519 | $3,658,694.40 |
| HEICO CORP-CL A | US | HEI/A | 12,630 | $2,094,685.50 |
| HEINEKEN NV | NL | HEIA NA | 6,162 | $599,683.42 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 91,913 | $4,479,839.62 |
| HELIOS TOWERS PLC | GB | HTWS LN | 68,780 | $83,980.83 |
| HERSHEY CO/THE | US | HSY | 494 | $95,796.48 |
| HF SINCLAIR CORP | US | DINO | 700 | $37,975.00 |
| HONEYWELL INTERNATIONAL INC | US | HON | 1,152 | $222,024.96 |
| HUMANA INC | US | HUM | 20,985 | $6,339,358.65 |
| HUNTINGTON BANCSHARES | US | HBAN | 4,487 | $60,439.89 |
| HUNTINGTON BANCSHARES 2.55000 02/04/2030 | US | 570,000 | $475,094.67 | |
| HUNTINGTON INGALLS INDUSTRIE | US | HII | 141 | $39,047.13 |
| IDEXX LABORATORIES INC | US | IDXX | 5,446 | $2,683,570.96 |
| IIP OPERATING PARTNER 5.50000 05/25/2026 | US | 230,000 | $218,141.68 | |
| IMCD NV | NL | IMCD NA | 3,275 | $494,114.02 |
| INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 | AU | 215,000 | $222,106.76 | |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 59,387 | $7,646,670.12 |
| INTERMEDIATE CAPITAL GROUP | GB | ICG LN | 14,610 | $380,793.70 |
| INTERNATIONAL PAPER CO | US | IP | 1,207 | $42,172.58 |
| INTERPUBLIC GROUP COS INC | US | IPG | 1,314 | $39,998.16 |
| INTUIT INC | US | INTU | 5,902 | $3,692,409.24 |
| INTUITIVE SURGICAL INC | US | ISRG | 10,143 | $3,759,198.66 |
| INVITATION HOMES INC | US | INVH | 9,322 | $318,812.40 |
| JEFFERIES FIN GROUP INC 6.20000 04/14/2034 | US | 740,000 | $731,278.55 | |
| JOHNSON & JOHNSON | US | JNJ | 74,076 | $10,710,648.84 |
| JP MORGAN CHASE & CO | US | JPM | 16,776 | $3,216,630.24 |
| JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 1,465.62 | $1,401.16 | |
| JPMMT 2017-2 A3 3.50000 05/25/2047 | US | 5,219.83 | $4,538.65 | |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 1,310,000 | $1,240,038.78 | |
| KENVUE INC | US | KVUE | 4,707 | $88,585.74 |
| KEY BANK NA 5.85000 11/15/2027 | US | 480,000 | $470,968.91 | |
| KEYENCE CORP | JP | 6861 JP | 800 | $351,815.89 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 8,716 | $124,457.33 |
| KIMBERLY CLARK CORP | US | KMB | 763 | $104,172.39 |
| KRAFT HEINZ CO/THE | US | KHC | 2,780 | $107,335.80 |
| L'OREAL | FR | OR FP | 206 | $96,583.75 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 52,319 | $11,198,881.95 |
| LEXINGTON REALTY TRUST | US | LXP | 17,805 | $148,671.75 |
| LKQ CORP | US | LKQ | 901 | $38,860.13 |
| LOCKHEED MARTIN CORP | US | LMT | 419 | $194,805.67 |
| LONZA GROUP AG -REG | CH | LONN SW | 847 | $467,538.64 |
| LONZA GROUP AG ADR | CH | LZAGY | 69,809 | $3,862,531.97 |
| MARATHON OIL CORP | US | MRO | 1,887 | $50,665.95 |
| MARATHON PETROLEUM CORP | US | MPC | 843 | $153,189.96 |
| MARRIOTT VACATIONS WORLD | US | VAC | 738 | $70,929.18 |
| MASCO CORP | US | MAS | 68,839 | $4,712,029.55 |
| MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 | US | 250,000 | $243,951.78 | |
| MASTERCARD INC-CLASS A | US | MA | 25,579 | $11,541,244.80 |
| MEDTRONIC INC | IE | MDT | 51,837 | $4,159,400.88 |
| MERCADOLIBRE INC | BR | MELI | 1,834 | $2,675,255.80 |
| MET LIFE GLOB FUNDING I 4.85000 01/08/2029 | US | 250,000 | $243,792.51 | |
| META PLATFORMS INC | US | META | 26,481 | $11,391,331.77 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 1,248 | $114,791.04 |
| MICRON TECHNOLOGY INC | US | MU | 69,723 | $7,875,910.08 |
| MICROSOFT CORP | US | MSFT | 24,316 | $9,466,948.28 |
| MID-AMERICA APARTMENT COMM | US | MAA | 596 | $77,480.00 |
| MOLSON COORS BREWING CO -B | US | TAP | 715 | $40,940.90 |
| MONARCH CASINO & RESORT INC | US | MCRI | 1,795 | $121,647.15 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 53,551 | $3,852,458.94 |
| MOODY'S CORPORATION | US | MCO | 21,964 | $8,133,928.12 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 235,000 | $234,469.55 | |
| NESTLE S.A. - ADR | CH | NSRGY | 61,106 | $6,147,263.60 |
| NESTLE SA-REGISTERED | CH | NESN SW | 5,020 | $504,008.99 |
| NEW FORTRESS ENERGY INC 8.75000 03/15/2029 | US | 230,000 | $224,152.52 | |
| NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 | US | 250,000 | $243,424.86 | |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 347,560.63 | $325,006.85 | |
| NORFOLK SOUTHN CORP | US | NSC | 8,100 | $1,865,592.00 |
| NORTHROP GRUMMAN CORP | US | NOC | 8,680 | $4,210,060.40 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 220,000 | $2.20 | |
| NOVARTIS AG- REG | CH | NVS | 33,486 | $3,252,495.18 |
| NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 | US | 480,000 | $500,494.20 | |
| NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 1,923.74 | $1,760.85 | |
| NRZT 2015-2A A1 3.75000 08/25/2055 | US | 2,638.89 | $2,412.23 | |
| NRZT 2016-4A A1 3.75000 11/25/2056 | US | 2,921.89 | $2,657.51 | |
| NSLT 2012-3A A MTGE FLT 6.14450 03/26/2040 | US | 7,089.13 | $7,069.69 | |
| NVIDIA CORP | US | NVDA | 4,111 | $3,551,986.22 |
| OMNICOM GROUP | US | OMC | 673 | $62,481.32 |
| OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 | US | 200,000 | $198,623.61 | |
| OVINTIV INC | US | OVV | 919 | $47,163.08 |
| OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 3,010.47 | $2,964.46 | |
| OXFINF 2024-A A2 6.67500 01/14/2032 | US | 50,000 | $49,514.55 | |
| PACCAR INC | US | PCAR | 1,042 | $110,566.62 |
| PALOMINO FUNDING TRUST I 7.23300 05/17/2028 | US | 640,000 | $659,934.72 | |
| PELORUS FUND REIT 7.00000 09/30/2026 | US | 245,000 | $238,628.04 | |
| PENSKE AUTOMOTIVE GROUP INC | US | PAG | 250 | $38,227.50 |
| PERMIAN RESOURCES CORP | US | PR | 2,571 | $43,064.25 |
| PHILIP MORRIS INTERNATIONAL | US | PM | 53,494 | $5,078,720.36 |
| PHILLIPS 66 | US | PSX | 860 | $123,160.60 |
| PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 3,074.48 | $2,731.17 | |
| PNC FINANCIAL SERVICES FLT 5.81200 06/12/2026 | US | 280,000 | $279,885.75 | |
| PNC FINANCIAL SERVICES GROUP | US | PNC | 834 | $127,818.84 |
| PPG INDUSTRIES INC | US | PPG | 608 | $78,432.00 |
| PROLOGIS | US | PLD | 6,668 | $680,469.40 |
| PUBLIC STORAGE INC | US | PSA | 1,187 | $307,967.15 |
| QUEST DIAGNOSTICS INC | US | DGX | 380 | $52,508.40 |
| RALPH LAUREN CORP | US | RL | 239 | $39,109.96 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 2,118 | $215,019.36 |
| REALTY INCOME CORP | US | O | 2,166 | $115,967.64 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 4,484 | $191,960.04 |
| ROLLINS INC | US | ROL | 42,778 | $1,906,187.68 |
| ROYALTY PHARMA PLC- CL A | US | RPRX | 1,891 | $52,380.70 |
| S&P GLOBAL INC | US | SPGI | 13,931 | $5,792,927.73 |
| SALESFORCE INC | US | CRM | 21,291 | $5,726,001.54 |
| SBA COMMUNICATIONS CORP | US | SBAC | 20,510 | $3,817,321.20 |
| SBA TOWER TRUST 6.59900 01/15/2028 | US | 405,000 | $410,937.79 | |
| SCHLUMBERGER LTD | US | SLB | 2,857 | $135,650.36 |
| SCML 2019-SBC8 2.86000 04/25/2041 | US | 7,285.1 | $6,707.14 | |
| SEMT 2013-2 1.87400 02/25/2043 | US | 1,124.31 | $925.45 | |
| SEMT 2013-6 A2 3.00000 05/25/2043 | US | 3,147.58 | $2,714.73 | |
| SEMT 2013-8 A1 3.00000 06/25/2043 | US | 1,376.14 | $1,193.13 | |
| SERVICENOW INC | US | NOW | 8,554 | $5,930,744.82 |
| SIMON PROPERTY 2.25000 01/15/2032 | US | 980,000 | $777,684.14 | |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 890,000 | $726,041.03 | |
| SIRIUSPOINT LTD 7.00000 04/05/2029 | BM | 510,000 | $510,595.59 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 518 | $55,213.62 |
| SMITH (A.O.) CORP | US | AOS | 494 | $40,922.96 |
| SNAP-ON INC | US | SNA | 173 | $46,357.08 |
| SOFTCAT PLC | GB | SCT LN | 13,124 | $256,880.17 |
| SOLVENTUM CORP | US | SOLV | .25 | $16.25 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 5,200 | $429,787.12 |
| SONY CORP SPONSORED ADR | JP | SONY | 39,493 | $3,260,937.01 |
| SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 | US | 14,572.46 | $9,045.79 | |
| SS&C TECHNOLOGIES HOLDINGS | US | SSNC | 802 | $49,635.78 |
| SUN COMMUNITIES | US | SUI | 2,623 | $291,992.36 |
| SYSCO CORP | US | SYY | 1,215 | $90,298.80 |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 58,808 | $8,076,690.72 |
| TAPESTRY INC | US | TPR | 865 | $34,530.80 |
| TE CONNECTIVITY LIMITED | CH | TEL | 719 | $101,724.12 |
| TECHTRONIC INDUSTRIES CO LTD | HK | 669 HK | 43,000 | $594,229.99 |
| TECHTRONIC INDUSTRIES-SP ADR | HK | TTNDY | 30,170 | $2,085,350.40 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 1,565,000 | $1,461,686.20 | |
| TENCENT HOLDINGS LTD | CN | 700 HK | 12,900 | $566,093.29 |
| TERRENO REALTY CORP | US | TRNO | 3,456 | $187,833.60 |
| THE MOSAIC CO | US | MOS | 1,237 | $38,829.43 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 9,155 | $5,206,631.60 |
| TPMT 2016-5 A1 2.50000 10/25/2056 | US | 22.12 | $22.03 | |
| TPMT 2019-HY1 A1 6.43133 10/25/2048 | US | 2,835.19 | $2,877.53 | |
| TRAVELLERS COS INC | US | TRV | 555 | $117,748.80 |
| TREASURY BOND 2.37500 02/15/2042 | US | 12,789,000 | $8,960,293.13 | |
| TRUIST FINANCIAL CORP | US | TFC | 3,016 | $113,250.80 |
| TRUIST FINANCIAL CORP FLT 1.88700 06/07/2029 | US | 830,000 | $708,790.93 | |
| TSY INFL IX N/B 0.12500 01/15/2031 | US | 2,986,235.55 | $2,593,475.58 | |
| TUTOR PERINI CORP 11.87500 04/30/2029 | US | 230,000 | $235,471.54 | |
| U.S. BANCORP | US | USB | 3,210 | $130,422.30 |
| UDR INC | US | UDR | 2,115 | $80,539.20 |
| UNION PAC CORP | US | UNP | 11,890 | $2,819,832.40 |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 29,383.83 | $28,078.15 | |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 233,751.06 | $215,268.38 | |
| UNITED STATES TREAS NTS 2.25000 11/15/2024 | US | 4,384,000 | $4,311,732.52 | |
| UNITEDHEALTH GROUP INC | US | UNH | 15,961 | $7,720,335.70 |
| US BANCORP FLT 4.65300 02/01/2029 | US | 740,000 | $713,108.50 | |
| US TEASURY NOTE 1.75000 11/15/2029 | US | 11,281,000 | $9,692,846.72 | |
| US TREASURY N/B 0.87500 11/15/2030 | US | 22,985,000 | $18,097,096.09 | |
| US TREASURY N/B 3.12500 11/15/2028 | US | 8,968,000 | $8,371,768.17 | |
| US TREASURY N/B 3.62500 02/15/2053 | US | 2,486,000 | $2,029,585.94 | |
| VAIL RESORTS INC | US | MTN | 26,094 | $4,941,420.78 |
| VALERO ENERGY | US | VLO | 710 | $113,507.70 |
| VENTAS INC | US | VTR | 2,551 | $112,958.28 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 7,068 | $2,776,381.08 |
| VIATRIS INC | US | VTRS | 4,015 | $46,453.55 |
| VISA INC - CLASS A SHARES | US | V | 38,093 | $10,232,160.73 |
| WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 | US | 810,000 | $738,391.84 | |
| WELLS FARGO & COMPANY 5.70700 04/22/2028 | US | 700,000 | $701,034.57 | |
| WELLS FARGO COMPANY | US | WFC | 4,909 | $291,201.88 |
| WELLTOWER INC. | US | WELL | 3,563 | $339,482.64 |
| WESTROCK CO | US | WRK | 891 | $42,732.36 |
| WILLIAMS - SONOMA INC | US | WSM | 191 | $54,774.98 |
| WR BERKLEY CORP | US | WRB | 745 | $57,342.65 |
Investments will change over time.
Distributions
A Word About Risk
All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.