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Pro-Mix® Conservative Term CIT
Pro-Mix® Conservative Term CIT
Pro-Mix® Conservative Term CIT
Pro-Mix® Extended Term CIT
Pro-Mix® Maximum Term CIT
Pro-Mix® Moderate Term CIT
Retirement Target 2015 CIT
Retirement Target 2020 CIT
Retirement Target 2025 CIT
Retirement Target 2030 CIT
Retirement Target 2035 CIT
Retirement Target 2040 CIT
Retirement Target 2045 CIT
Retirement Target 2050 CIT
Retirement Target 2055 CIT
Retirement Target 2060 CIT
Retirement Target Income CIT
Investment Objective
To provide capital preservation, with income and capital growth as secondary objectives.
Investment Strategy
The portfolio is invested in a conservative mix of securities that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.
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 to minimize declines in account value with the potential for modest growth and income generation
- Who want to assume a minimal amount of capital risk through limited stock exposure
About Our 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 his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her 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 |
| 15-45% | 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
$29.76
Daily $ Change
$0.06
Daily % Change
0.20%
as of 12/11/2019
CUSIP
563821149
Inception Date
01/01/2000
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Annual Report | |
| Applications & Forms |
Performance
As of 11/30/2019
YTD
11.95%
1 Year
10.09%
3 Year
6.18%
5 Year
3.56%
10 Year
4.98%
Inception
(01/01/2000)
5.62%
US Stock Market Cycle (04/01/2000 - 11/30/2019)
5.57%
Returns are net of Pro-Mix® CIT Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Expense Ratio
| Gross | 0.87% |
| Net | 0.85%* |
*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 11/30/2019
| GOVERNMENT AGENCY | 13.66% |
| TREASURY NOTES | 11.08% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 4.22% |
| TREASURY BONDS | 2.79% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 2.03% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.27% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.21% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.18% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.16% |
| SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | 1.05% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 11/30/2019
| Bonds | 70.85% |
| Stocks | 27.34% |
| Cash | 1.81% |
Detailed Asset Class Allocation
As of 11/30/2019
| International Equities | 7.07% |
| Small Capitalization | 0.26% |
| Mid Capitalization | 1.00% |
| Large Capitalization | 19.01% |
| Long Term Fixed Income | 18.02% |
| Intermediate Term Fixed Income | 40.43% |
| Short Term Fixed Income | 12.40% |
| Cash | 1.81% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
November Fund Holdings
As of 11/30/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 15,000 | $15,900.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 980,000 | $1,072,125.88 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 2,901 | $254,504.73 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 510 | $13,708.80 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 20,000 | $17,934.40 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 7,850 | $430,415.50 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 960,000 | $1,033,216.35 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 25,000 | $24,562.50 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 310 | $23,181.80 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 980,000 | $1,015,541.57 | |
| 013093AD1 | ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 | US | 15,000 | $15,300.00 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 115 | $18,689.80 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 770,000 | $799,634.29 | |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 280 | $365,388.80 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 280 | $365,145.20 |
| 023135106 | AMAZON.COM INC | US | AMZN | 270 | $486,216.00 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 26,115 | $109,944.15 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 6,180 | $252,493.46 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 845 | $40,593.80 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 2,495 | $66,641.45 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 35,000 | $35,697.13 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 1,090 | $233,292.70 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 950,000 | $1,013,073.52 | |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 16,527.01 | $16,657.35 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 1,525 | $57,370.50 |
| 031162100 | AMGEN INC | US | AMGN | 1,362 | $319,688.64 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 15,000 | $11,850.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 15,000 | $11,587.50 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 1,334 | $71,729.18 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 15,000 | $15,206.25 | |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 470 | $100,772.70 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 9,794 | $326,336.08 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 1,540,000 | $1,638,732.66 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 2,930 | $645,479.00 |
| 088606108 | BHP GROUP LTD | AU | BHP | 4,350 | $224,155.50 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 4,080 | $329,296.80 |
| 09247X101 | BLACKROCK INC | US | BLK | 250 | $123,727.50 |
| 097023105 | BOEING CO | US | BA | 861 | $315,280.98 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 120 | $228,483.60 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 417 | $57,771.18 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 4,115 | $63,494.45 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 3,389 | $192,969.66 |
| 11135F101 | BROADCOM INC | US | AVGO | 673 | $212,809.33 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 15,000 | $9,600.00 | |
| 12429TAE4 | BWAY HOLDING CO 7.25000 04/15/2025 | US | 15,000 | $14,212.50 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,960 | $233,044.00 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 169,166.31 | $172,383.16 | |
| 12572Q105 | CME GROUP INC | US | CME | 1,160 | $235,166.80 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 430,247.97 | $424,209.87 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 2,535 | $190,809.45 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 20,000 | $20,125.40 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 480 | $53,544.00 |
| 149123101 | CATERPILLAR INC | US | CAT | 1,170 | $169,334.10 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 3,332.11 | $3,331.62 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 223,190.29 | $224,633.26 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 15,000 | $15,151.35 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 374,843.14 | $374,555.79 | |
| 166764100 | CHEVRON CORP | US | CVX | 2,234 | $261,668.42 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 2,811 | $156,994.35 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 7,205 | $326,458.55 |
| 172967424 | CITIGROUP INC | US | C | 2,949 | $221,528.88 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 460,000 | $762,015.81 | |
| 191216100 | COCA COLA CO/THE | US | KO | 9,460 | $505,164.00 |
| 192422103 | COGNEX CORP | US | CGNX | 2,510 | $125,951.80 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,202 | $149,339.64 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 750,000 | $761,500.49 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 500,000 | $498,859.50 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 875 | $41,650.00 |
| 20451NAG6 | COMPASS MINERALS INTERNA 6.75000 12/01/2027 | US | 25,000 | $25,875.00 | |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 2,494 | $100,982.06 |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 1,040,000 | $1,043,945.31 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 345 | $46,112.70 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 1,010,000 | $1,022,897.09 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 305,794.67 | $297,507.08 | |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 20,000 | $19,494.20 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 395 | $47,775.25 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 910,000 | $1,036,134.09 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 25,000 | $25,406.25 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 1,095 | $48,256.65 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 4,800 | $119,033.35 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 5,940 | $122,753.14 |
| 285512109 | ELECTRONIC ARTS | US | EA | 3,680 | $371,716.80 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,722 | $127,186.92 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 620,000 | $724,394.01 | |
| 29413XAD9 | ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 | US | 20,000 | $20,784.00 | |
| 29444U700 | EQUINIX INC | US | EQIX | 915 | $518,667.75 |
| 29446M102 | EQUINOR ASA-SPON ADR | NO | EQNR | 5,545 | $102,748.85 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 660 | $48,892.80 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 745 | $63,399.50 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 1,820 | $47,483.80 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 151 | $47,139.18 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,558,725.85 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 165 | $17,498.25 |
| 30262DAL5 | FREMF 2011-K13 B 4.76866 01/25/2048 | US | 410,000 | $419,687.36 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.98275 12/25/2024 | US | 180,000 | $187,903.17 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96298 11/25/2047 | US | 700,000 | $744,332.82 | |
| 30291EAE4 | FREMF 2013-K712 B FLT 3.28134 05/25/2045 | US | 513,388.52 | $512,617.00 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,676,206.5 | $27,305.47 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 5,015 | $1,011,224.60 |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 4,451.73 | $4,489.53 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 141,113.13 | $158,672.06 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 3,267.56 | $3,673.28 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 11,884.48 | $13,317.86 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 116,202.06 | $133,597.68 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 37,674.96 | $42,390.91 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 54,102.62 | $56,051.59 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 3,557.02 | $3,640.17 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 3,410.35 | $3,523.12 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 505,832.21 | $535,762.86 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 79,487.06 | $89,359.82 | |
| 3128MJY87 | FHLM POOL FG G08734 4.00000 11/01/2046 | US | 43,949.03 | $46,260.46 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 39,893.27 | $42,863.23 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 430,089.62 | $466,379.21 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 511,562.46 | $523,324.84 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 136,099.38 | $144,293.47 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 493,064.5 | $516,711.56 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 347,388.12 | $365,587.26 | |
| 31335CCY8 | FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 | US | 326,049.85 | $348,556.47 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 212.84 | $213.34 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 559,582.01 | $573,278.47 | |
| 3136AY6W8 | FNA 2017-M15 A1 3.05802 09/25/2027 | US | 484,230.76 | $505,877.62 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 405,482.56 | $421,270.51 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 48,123.05 | $54,222.42 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 3,056.02 | $3,161.61 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 6,170.07 | $6,933.89 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 115 | $15,188.05 |
| 3137A2B34 | FHMS K009 X1 FLT 1.42680 08/25/2020 | US | 1,065,899.9 | $6,643.33 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.32354 04/25/2021 | US | 10,803,157.96 | $141,806.57 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.63461 10/25/2021 | US | 2,297,008.42 | $54,359.85 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.55966 06/25/2022 | US | 15,522,517.2 | $483,855.49 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.29829 04/25/2023 | US | 29,579,001.7 | $167,662.66 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.21120 05/25/2023 | US | 17,392,885.46 | $66,875.64 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 410,462.17 | $417,666.31 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 342,579.18 | $349,262.25 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 185,342.64 | $196,282.29 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 30,780.77 | $32,342.31 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 89,964.47 | $97,471.74 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 437,435.15 | $454,923.35 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 | US | 577,388.12 | $647,101.03 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 856,025.94 | $901,018.36 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 541,068.82 | $581,801.63 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 1,011,380.26 | $1,056,849.54 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 52,739.05 | $59,402.02 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 8,777.03 | $9,957.48 | |
| 31406PTV1 | FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 | US | 732.94 | $757.06 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 534,745.46 | $563,446.02 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 95,749.75 | $100,894.62 | |
| 3140FPGW3 | FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 | US | 450,608.02 | $472,640.63 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 134,778.43 | $141,863.22 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 467,998.13 | $491,964.90 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 374,360.98 | $413,184.55 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 297,797.85 | $318,992.94 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 389,088.34 | $410,228.85 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 160,126.44 | $171,519.72 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 240,264.55 | $257,354.38 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 759,844.43 | $787,706.23 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 2,258.17 | $2,304.33 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 2,598.27 | $2,656.92 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 17,358.49 | $17,593.84 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 21,083.59 | $21,340.55 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 15,435.34 | $17,350.68 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 9,868.98 | $10,986.09 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 36,039.29 | $40,391.59 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,368.6 | $4,664.56 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 3,704.01 | $4,094.77 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 17,834.03 | $20,050.57 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,630 | $13,307.82 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,539.39 | $2,901.55 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 7,580.78 | $8,525.06 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 5,615.28 | $5,814.00 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 30,224.88 | $31,219.48 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 12,175.59 | $13,507.05 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 13,041.52 | $14,229.50 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 7,104.42 | $7,687.57 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 11,693.66 | $11,864.52 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 15,500.71 | $16,788.99 | |
| 31418B6G6 | FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 | US | 370,471.78 | $379,390.43 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 199,674.96 | $214,427.70 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 208,871.95 | $224,305.66 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 1,067,073.15 | $1,107,427.54 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 407,526.1 | $416,962.88 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 434,119.14 | $457,686.41 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 304,287.3 | $316,270.17 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 420,622.08 | $435,980.95 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 1,232,548.7 | $1,265,160.31 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 25,039.76 | $28,757.72 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 85,338.59 | $95,818.02 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 15,650.46 | $17,586.59 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 15,000 | $15,900.00 | |
| 316067107 | FIDELITY CASH RESERVES | US | 16,410 | $16,410.00 | |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 740 | $31,509.20 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 20,000 | $19,583.40 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 470,000 | $483,933.01 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 15,000 | $16,200.00 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 30,000 | $30,875.10 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 20,000 | $20,150.00 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.50722 07/25/2022 | US | 100,000 | $102,002.94 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 115,000 | $114,825.67 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 10,262.4 | $10,316.35 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 30,211.03 | $32,424.63 | |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 780,000 | $763,003.80 | |
| 37045XAR7 | GENERAL MOTORS FINL CO 3.15000 01/15/2020 | US | 1,080,000 | $1,080,378.79 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 855 | $28,693.80 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 3,046 | $204,813.04 |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 20,000 | $20,456.00 | |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 500,000 | $539,883.86 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 452,866.06 | $455,772.51 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 14,820 | $241,121.40 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 710,000 | $747,984.57 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 5,000 | $4,600.00 | |
| 406216101 | HALLIBURTON CO | US | HAL | 13,850 | $290,711.50 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 1,335 | $44,308.65 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 840 | $25,494.00 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 2,150 | $74,992.00 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 280 | $29,400.00 |
| 437076102 | HOME DEPOT INC | US | HD | 1,791 | $394,933.41 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 4,530 | $127,383.60 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 1,367 | $244,077.85 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 1,600 | $27,984.00 |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 10,000 | $10,850.00 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 20,000 | $20,337.60 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 773 | $134,757.09 |
| 45337C102 | INCYTE CORP | US | INCY | 1,750 | $164,780.00 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 2,115 | $31,598.10 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 20,000 | $20,400.00 | |
| 458140100 | INTEL CORP | US | INTC | 6,624 | $384,523.20 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 2,640 | $248,608.80 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,840 | $247,388.00 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.61250 12/17/2036 | US | 149,812.9 | $149,602.44 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 2.91250 12/17/2036 | US | 120,000 | $119,828.09 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 3,536 | $107,954.08 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 3,481 | $458,656.56 |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 39,533.45 | $39,796.19 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 221,647.64 | $223,427.69 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 246,473.47 | $251,323.33 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 271,981.3 | $276,193.96 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 760,000 | $808,569.19 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 353,777.11 | $358,323.85 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 281,333.97 | $285,294.31 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 4,070 | $475,054.97 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 2,390 | $41,777.20 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 8,194 | $1,126,593.06 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 25,000 | $7,250.00 | |
| 483007AJ9 | KAISER ALUMINUM CORP 4.62500 03/01/2028 | US | 15,000 | $15,396.00 | |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 20,000 | $20,800.00 | |
| 49427F108 | KILROY REALTY CORP | US | KRC | 192 | $15,982.08 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 972 | $132,522.48 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 770,000 | $997,695.85 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 321,000 | $321,000.00 | |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 25,000 | $25,812.50 | |
| 516806AD8 | LAREDO PETROLEUM INC 5.62500 01/15/2022 | US | 15,000 | $13,809.09 | |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 605 | $37,280.10 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 215 | $23,546.80 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 563 | $220,149.89 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 15,000 | $10,500.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 2,230 | $503,288.70 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 2,104 | $127,586.56 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 2,730 | $797,787.90 |
| 58933Y105 | MERCK & CO INC | US | MRK | 6,464 | $563,531.52 |
| 594918104 | MICROSOFT CORP | US | MSFT | 4,860 | $735,706.80 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 15,150 | $719,776.50 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 230 | $31,305.30 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 11,951 | $627,905.54 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 1,080 | $244,803.60 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 15,000 | $9,975.00 | |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 5,000 | $3,675.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 30,000 | $28,800.00 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 650 | $36,231.00 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 530 | $17,755.00 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 20,000 | $20,400.00 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 367,710.84 | $369,064.53 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.70800 02/27/2068 | US | 1,000,000 | $1,002,949.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 273,463.81 | $283,558.10 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 345,439.91 | $358,059.83 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 442,361.71 | $457,485.61 | |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 25,000 | $16,109.40 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 8,280 | $764,244.00 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 15,000 | $15,511.50 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 1,150 | $249,251.00 |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 15,000 | $15,637.50 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 720 | $30,261.60 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 2,305 | $248,963.05 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 4,540 | $471,455.51 |
| 713448108 | PEPSICO INC | US | PEP | 3,730 | $506,645.90 |
| 71654V101 | PETROLEO BRASIL-SP PREF ADR | BR | PBR/A | 12,033 | $165,092.76 |
| 717081103 | PFIZER INC | US | PFE | 10,019 | $385,931.88 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 20,000 | $16,750.00 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 2,695 | $51,717.05 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 955 | $17,705.70 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 1,390,000 | $1,486,262.30 | |
| 74166MAB2 | PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 | US | 15,000 | $15,450.00 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 15,000 | $15,667.80 | |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 299,752.28 | $299,686.48 | |
| 74340W103 | PROLOGIS | US | PLD | 1,675 | $153,346.25 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 300 | $63,204.00 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 25,000 | $26,187.50 | |
| 756109104 | REALTY INCOME CORP | US | O | 240 | $18,391.20 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 3,322 | $181,248.32 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 20,000 | $20,280.09 | |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 910 | $240,831.50 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 950 | $224,646.50 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 25,000 | $25,781.25 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 833,332.93 | $836,637.60 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 1,180,000 | $1,349,764.10 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 960,000 | $1,032,798.90 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,090 | $184,258.00 |
| 81141R100 | SEA LTD - ADR | SG | SE | 6,490 | $240,389.60 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 1,290 | $155,251.50 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 266,578.34 | $268,145.47 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 364,943.02 | $367,737.02 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 276,748.57 | $265,878.38 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,760 | $498,150.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 15,000 | $12,726.75 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 680 | $102,822.80 |
| 83401LAB0 | SOFI 2015-A A2 2.42000 03/25/2030 | US | 206,237.1 | $206,239.72 | |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 262,540.34 | $262,343.15 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 91,910.96 | $92,001.21 | |
| 83405DAB4 | SOFI 2017-C A2A 1.75000 07/25/2040 | US | 679.34 | $679.06 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 305,086.65 | $307,198.06 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 7,880 | $500,222.40 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 1,050,000 | $1,059,443.95 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 30,000 | $30,718.20 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 15,000 | $15,907.50 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 15,000 | $16,162.50 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 910 | $28,200.90 |
| 855030AN2 | STAPLES INC 7.50000 04/15/2026 | US | 20,000 | $20,925.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 2.98538 11/15/2027 | US | 884,246.53 | $882,578.13 | |
| 858912AF5 | STERICYCLE INC 5.37500 07/15/2024 | US | 20,000 | $20,900.00 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 680 | $27,682.80 |
| 86212XAA8 | STR 2019-1 A1 MTGE 2.82000 11/20/2049 | US | 300,000 | $300,937.50 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 415 | $68,354.65 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 15,000 | $13,575.00 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 1,250 | $17,500.00 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 133,479.3 | $133,429.67 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 15,000 | $13,350.00 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 710,000 | $762,678.79 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,935 | $232,606.35 |
| 88579Y101 | 3M CO | US | MMM | 1,292 | $219,342.84 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 3,499 | $183,837.46 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 668,293.74 | $669,787.44 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 307,815.43 | $309,091.08 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.70800 10/25/2048 | US | 282,070.08 | $282,887.04 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 15,000 | $15,075.00 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 785,935.55 | $784,304.42 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 498,585.56 | $502,664.54 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 70,000 | $68,337.50 | |
| 902653104 | UDR INC | US | UDR | 1,133 | $54,440.65 |
| 902973304 | U.S. BANCORP | US | USB | 3,466 | $208,063.98 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 1,045 | $16,312.45 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 12,203 | $725,956.47 |
| 907818108 | UNION PAC CORP | US | UNP | 1,380 | $242,866.20 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,961 | $234,790.53 |
| 912796SZ3 | TREASURY BILL 0.00000 07/16/2020 | US | 800,000 | $792,148.32 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 689,734.1 | $728,754.30 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 1,066,000 | $1,241,098.83 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 2,635,000 | $2,670,407.81 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 2,581,749.44 | $2,610,732.75 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 5,440,057.5 | $5,424,735.14 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,877,000 | $3,856,252.00 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 2,272,000 | $2,343,798.74 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 3,730,000 | $3,868,709.38 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 3,759,000 | $3,846,954.74 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 1,662 | $246,541.08 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,895 | $39,283.35 |
| 918204108 | VF CORP | US | VFC | 1,098 | $97,216.92 |
| 91913Y100 | VALERO ENERGY | US | VLO | 1,179 | $112,582.71 |
| 92276F100 | VENTAS INC | US | VTR | 599 | $34,927.69 |
| 92339V100 | VEREIT INC | US | VER | 5,395 | $52,655.20 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 1,200,000 | $1,516,381.67 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 720 | $159,660.00 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 4,060 | $749,110.60 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 20,000 | $19,300.00 | |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 50,000 | $50,232.50 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 280 | $18,079.60 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 15,000 | $13,800.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.81538 12/15/2033 | US | 390,000 | $390,242.85 | |
| 931142103 | WAL MART STORES | US | WMT | 3,799 | $452,422.91 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 2,248 | $133,980.80 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,151 | $129,959.41 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 25,000 | $25,562.50 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 1,230 | $39,163.20 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,520 | $409,539.20 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 761 | $64,357.77 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 750,000 | $767,858.40 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 227,640.12 | $227,868.56 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 366,435.62 | $373,206.25 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 515 | $29,833.95 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 30,000 | $28,256.28 | |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $20,336.08 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $108,420.69 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $55,747.20 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 1,800,000 | $92,425.60 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 54,400 | $743,187.82 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $18,702.31 | |
| BBG00Q7Z9PN7 | SE US 12/20/19 C39 | SG | -35 | -$2,275.00 | |
| BBG00QR025W3 | MU US 12/13/19 P43 | US | -42 | -$588.00 | |
| BD3HF92 | BSR REAL ESTATE INVESTMENT | CA | HOM/U CN | 600 | $7,632.54 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 16,295 | $26,176.56 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 12,080 | $509,717.47 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 13,350 | $415,377.45 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 5,390 | $427,255.88 |
| G29183103 | EATON CORP PLC | US | ETN | 1,246 | $115,255.00 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 9,749 | $1,085,941.11 |
| H01301128 | ALCON INC | CH | ALC | 4,150 | $229,453.50 |
| H1467J104 | CHUBB LTD | CH | CB | 786 | $119,063.28 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 12,560 | $62,548.80 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 995 | $84,614.80 |
| USD | US DOLLAR | US | 2,357,740.96 | $2,357,740.96 |
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.
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 45 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.
Daily Price
$29.76
Daily $ Change
$0.06
Daily % Change
0.20%
as of 12/11/2019
CUSIP
563821149
Inception Date
01/01/2000
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Annual Report | |
| Fact Sheet | |
| Applications & Forms |
Investment Objective
To provide capital preservation, with income and capital growth as secondary objectives.
Investment Strategy
The portfolio is invested in a conservative mix of securities that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.
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 to minimize declines in account value with the potential for modest growth and income generation
- Who want to assume a minimal amount of capital risk through limited stock exposure
About Our 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 his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her 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 |
| 15-45% | 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.
Performance
As of 11/30/2019
YTD
11.95%
1 Year
10.09%
3 Year
6.18%
5 Year
3.56%
10 Year
4.98%
Inception
(01/01/2000)
5.62%
US Stock Market Cycle (04/01/2000 - 11/30/2019)
5.57%
Returns are net of Pro-Mix® CIT Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Expense Ratio
| Gross | 0.87% |
| Net | 0.85%* |
*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 11/30/2019
| GOVERNMENT AGENCY | 13.66% |
| TREASURY NOTES | 11.08% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 4.22% |
| TREASURY BONDS | 2.79% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 2.03% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.27% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.21% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.18% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.16% |
| SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | 1.05% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 11/30/2019
| Bonds | 70.85% | |
| Stocks | 27.34% | |
| Cash | 1.81% |
Detailed Asset Class Allocation
As of 11/30/2019
| International Equities | 7.07% | |
| Small Capitalization | 0.26% | |
| Mid Capitalization | 1.00% | |
| Large Capitalization | 19.01% | |
| Long Term Fixed Income | 18.02% | |
| Intermediate Term Fixed Income | 40.43% | |
| Short Term Fixed Income | 12.40% | |
| Cash | 1.81% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
November Fund Holdings
As of 11/30/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 15,000 | $15,900.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 980,000 | $1,072,125.88 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 2,901 | $254,504.73 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 510 | $13,708.80 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 20,000 | $17,934.40 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 7,850 | $430,415.50 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 960,000 | $1,033,216.35 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 25,000 | $24,562.50 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 310 | $23,181.80 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 980,000 | $1,015,541.57 | |
| 013093AD1 | ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 | US | 15,000 | $15,300.00 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 115 | $18,689.80 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 770,000 | $799,634.29 | |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 280 | $365,388.80 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 280 | $365,145.20 |
| 023135106 | AMAZON.COM INC | US | AMZN | 270 | $486,216.00 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 26,115 | $109,944.15 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 6,180 | $252,493.46 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 845 | $40,593.80 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 2,495 | $66,641.45 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 35,000 | $35,697.13 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 1,090 | $233,292.70 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 950,000 | $1,013,073.52 | |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 16,527.01 | $16,657.35 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 1,525 | $57,370.50 |
| 031162100 | AMGEN INC | US | AMGN | 1,362 | $319,688.64 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 15,000 | $11,850.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 15,000 | $11,587.50 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 1,334 | $71,729.18 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 15,000 | $15,206.25 | |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 470 | $100,772.70 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 9,794 | $326,336.08 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 1,540,000 | $1,638,732.66 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 2,930 | $645,479.00 |
| 088606108 | BHP GROUP LTD | AU | BHP | 4,350 | $224,155.50 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 4,080 | $329,296.80 |
| 09247X101 | BLACKROCK INC | US | BLK | 250 | $123,727.50 |
| 097023105 | BOEING CO | US | BA | 861 | $315,280.98 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 120 | $228,483.60 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 417 | $57,771.18 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 4,115 | $63,494.45 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 3,389 | $192,969.66 |
| 11135F101 | BROADCOM INC | US | AVGO | 673 | $212,809.33 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 15,000 | $9,600.00 | |
| 12429TAE4 | BWAY HOLDING CO 7.25000 04/15/2025 | US | 15,000 | $14,212.50 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,960 | $233,044.00 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 169,166.31 | $172,383.16 | |
| 12572Q105 | CME GROUP INC | US | CME | 1,160 | $235,166.80 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 430,247.97 | $424,209.87 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 2,535 | $190,809.45 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 20,000 | $20,125.40 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 480 | $53,544.00 |
| 149123101 | CATERPILLAR INC | US | CAT | 1,170 | $169,334.10 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 3,332.11 | $3,331.62 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 223,190.29 | $224,633.26 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 15,000 | $15,151.35 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 374,843.14 | $374,555.79 | |
| 166764100 | CHEVRON CORP | US | CVX | 2,234 | $261,668.42 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 2,811 | $156,994.35 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 7,205 | $326,458.55 |
| 172967424 | CITIGROUP INC | US | C | 2,949 | $221,528.88 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 460,000 | $762,015.81 | |
| 191216100 | COCA COLA CO/THE | US | KO | 9,460 | $505,164.00 |
| 192422103 | COGNEX CORP | US | CGNX | 2,510 | $125,951.80 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,202 | $149,339.64 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 750,000 | $761,500.49 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 500,000 | $498,859.50 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 875 | $41,650.00 |
| 20451NAG6 | COMPASS MINERALS INTERNA 6.75000 12/01/2027 | US | 25,000 | $25,875.00 | |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 2,494 | $100,982.06 |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 1,040,000 | $1,043,945.31 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 345 | $46,112.70 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 1,010,000 | $1,022,897.09 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 305,794.67 | $297,507.08 | |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 20,000 | $19,494.20 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 395 | $47,775.25 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 910,000 | $1,036,134.09 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 25,000 | $25,406.25 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 1,095 | $48,256.65 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 4,800 | $119,033.35 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 5,940 | $122,753.14 |
| 285512109 | ELECTRONIC ARTS | US | EA | 3,680 | $371,716.80 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,722 | $127,186.92 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 620,000 | $724,394.01 | |
| 29413XAD9 | ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 | US | 20,000 | $20,784.00 | |
| 29444U700 | EQUINIX INC | US | EQIX | 915 | $518,667.75 |
| 29446M102 | EQUINOR ASA-SPON ADR | NO | EQNR | 5,545 | $102,748.85 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 660 | $48,892.80 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 745 | $63,399.50 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 1,820 | $47,483.80 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 151 | $47,139.18 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,558,725.85 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 165 | $17,498.25 |
| 30262DAL5 | FREMF 2011-K13 B 4.76866 01/25/2048 | US | 410,000 | $419,687.36 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.98275 12/25/2024 | US | 180,000 | $187,903.17 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96298 11/25/2047 | US | 700,000 | $744,332.82 | |
| 30291EAE4 | FREMF 2013-K712 B FLT 3.28134 05/25/2045 | US | 513,388.52 | $512,617.00 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,676,206.5 | $27,305.47 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 5,015 | $1,011,224.60 |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 4,451.73 | $4,489.53 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 141,113.13 | $158,672.06 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 3,267.56 | $3,673.28 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 11,884.48 | $13,317.86 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 116,202.06 | $133,597.68 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 37,674.96 | $42,390.91 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 54,102.62 | $56,051.59 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 3,557.02 | $3,640.17 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 3,410.35 | $3,523.12 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 505,832.21 | $535,762.86 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 79,487.06 | $89,359.82 | |
| 3128MJY87 | FHLM POOL FG G08734 4.00000 11/01/2046 | US | 43,949.03 | $46,260.46 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 39,893.27 | $42,863.23 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 430,089.62 | $466,379.21 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 511,562.46 | $523,324.84 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 136,099.38 | $144,293.47 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 493,064.5 | $516,711.56 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 347,388.12 | $365,587.26 | |
| 31335CCY8 | FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 | US | 326,049.85 | $348,556.47 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 212.84 | $213.34 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 559,582.01 | $573,278.47 | |
| 3136AY6W8 | FNA 2017-M15 A1 3.05802 09/25/2027 | US | 484,230.76 | $505,877.62 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 405,482.56 | $421,270.51 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 48,123.05 | $54,222.42 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 3,056.02 | $3,161.61 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 6,170.07 | $6,933.89 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 115 | $15,188.05 |
| 3137A2B34 | FHMS K009 X1 FLT 1.42680 08/25/2020 | US | 1,065,899.9 | $6,643.33 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.32354 04/25/2021 | US | 10,803,157.96 | $141,806.57 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.63461 10/25/2021 | US | 2,297,008.42 | $54,359.85 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.55966 06/25/2022 | US | 15,522,517.2 | $483,855.49 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.29829 04/25/2023 | US | 29,579,001.7 | $167,662.66 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.21120 05/25/2023 | US | 17,392,885.46 | $66,875.64 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 410,462.17 | $417,666.31 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 342,579.18 | $349,262.25 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 185,342.64 | $196,282.29 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 30,780.77 | $32,342.31 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 89,964.47 | $97,471.74 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 437,435.15 | $454,923.35 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 | US | 577,388.12 | $647,101.03 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 856,025.94 | $901,018.36 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 541,068.82 | $581,801.63 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 1,011,380.26 | $1,056,849.54 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 52,739.05 | $59,402.02 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 8,777.03 | $9,957.48 | |
| 31406PTV1 | FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 | US | 732.94 | $757.06 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 534,745.46 | $563,446.02 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 95,749.75 | $100,894.62 | |
| 3140FPGW3 | FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 | US | 450,608.02 | $472,640.63 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 134,778.43 | $141,863.22 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 467,998.13 | $491,964.90 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 374,360.98 | $413,184.55 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 297,797.85 | $318,992.94 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 389,088.34 | $410,228.85 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 160,126.44 | $171,519.72 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 240,264.55 | $257,354.38 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 759,844.43 | $787,706.23 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 2,258.17 | $2,304.33 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 2,598.27 | $2,656.92 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 17,358.49 | $17,593.84 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 21,083.59 | $21,340.55 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 15,435.34 | $17,350.68 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 9,868.98 | $10,986.09 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 36,039.29 | $40,391.59 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,368.6 | $4,664.56 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 3,704.01 | $4,094.77 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 17,834.03 | $20,050.57 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,630 | $13,307.82 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,539.39 | $2,901.55 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 7,580.78 | $8,525.06 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 5,615.28 | $5,814.00 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 30,224.88 | $31,219.48 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 12,175.59 | $13,507.05 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 13,041.52 | $14,229.50 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 7,104.42 | $7,687.57 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 11,693.66 | $11,864.52 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 15,500.71 | $16,788.99 | |
| 31418B6G6 | FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 | US | 370,471.78 | $379,390.43 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 199,674.96 | $214,427.70 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 208,871.95 | $224,305.66 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 1,067,073.15 | $1,107,427.54 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 407,526.1 | $416,962.88 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 434,119.14 | $457,686.41 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 304,287.3 | $316,270.17 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 420,622.08 | $435,980.95 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 1,232,548.7 | $1,265,160.31 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 25,039.76 | $28,757.72 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 85,338.59 | $95,818.02 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 15,650.46 | $17,586.59 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 15,000 | $15,900.00 | |
| 316067107 | FIDELITY CASH RESERVES | US | 16,410 | $16,410.00 | |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 740 | $31,509.20 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 20,000 | $19,583.40 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 470,000 | $483,933.01 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 15,000 | $16,200.00 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 30,000 | $30,875.10 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 20,000 | $20,150.00 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.50722 07/25/2022 | US | 100,000 | $102,002.94 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 115,000 | $114,825.67 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 10,262.4 | $10,316.35 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 30,211.03 | $32,424.63 | |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 780,000 | $763,003.80 | |
| 37045XAR7 | GENERAL MOTORS FINL CO 3.15000 01/15/2020 | US | 1,080,000 | $1,080,378.79 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 855 | $28,693.80 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 3,046 | $204,813.04 |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 20,000 | $20,456.00 | |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 500,000 | $539,883.86 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 452,866.06 | $455,772.51 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 14,820 | $241,121.40 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 710,000 | $747,984.57 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 5,000 | $4,600.00 | |
| 406216101 | HALLIBURTON CO | US | HAL | 13,850 | $290,711.50 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 1,335 | $44,308.65 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 840 | $25,494.00 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 2,150 | $74,992.00 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 280 | $29,400.00 |
| 437076102 | HOME DEPOT INC | US | HD | 1,791 | $394,933.41 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 4,530 | $127,383.60 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 1,367 | $244,077.85 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 1,600 | $27,984.00 |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 10,000 | $10,850.00 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 20,000 | $20,337.60 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 773 | $134,757.09 |
| 45337C102 | INCYTE CORP | US | INCY | 1,750 | $164,780.00 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 2,115 | $31,598.10 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 20,000 | $20,400.00 | |
| 458140100 | INTEL CORP | US | INTC | 6,624 | $384,523.20 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 2,640 | $248,608.80 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,840 | $247,388.00 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.61250 12/17/2036 | US | 149,812.9 | $149,602.44 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 2.91250 12/17/2036 | US | 120,000 | $119,828.09 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 3,536 | $107,954.08 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 3,481 | $458,656.56 |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 39,533.45 | $39,796.19 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 221,647.64 | $223,427.69 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 246,473.47 | $251,323.33 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 271,981.3 | $276,193.96 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 760,000 | $808,569.19 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 353,777.11 | $358,323.85 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 281,333.97 | $285,294.31 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 4,070 | $475,054.97 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 2,390 | $41,777.20 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 8,194 | $1,126,593.06 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 25,000 | $7,250.00 | |
| 483007AJ9 | KAISER ALUMINUM CORP 4.62500 03/01/2028 | US | 15,000 | $15,396.00 | |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 20,000 | $20,800.00 | |
| 49427F108 | KILROY REALTY CORP | US | KRC | 192 | $15,982.08 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 972 | $132,522.48 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 770,000 | $997,695.85 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 321,000 | $321,000.00 | |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 25,000 | $25,812.50 | |
| 516806AD8 | LAREDO PETROLEUM INC 5.62500 01/15/2022 | US | 15,000 | $13,809.09 | |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 605 | $37,280.10 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 215 | $23,546.80 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 563 | $220,149.89 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 15,000 | $10,500.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 2,230 | $503,288.70 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 2,104 | $127,586.56 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 2,730 | $797,787.90 |
| 58933Y105 | MERCK & CO INC | US | MRK | 6,464 | $563,531.52 |
| 594918104 | MICROSOFT CORP | US | MSFT | 4,860 | $735,706.80 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 15,150 | $719,776.50 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 230 | $31,305.30 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 11,951 | $627,905.54 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 1,080 | $244,803.60 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 15,000 | $9,975.00 | |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 5,000 | $3,675.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 30,000 | $28,800.00 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 650 | $36,231.00 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 530 | $17,755.00 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 20,000 | $20,400.00 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 367,710.84 | $369,064.53 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.70800 02/27/2068 | US | 1,000,000 | $1,002,949.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 273,463.81 | $283,558.10 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 345,439.91 | $358,059.83 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 442,361.71 | $457,485.61 | |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 25,000 | $16,109.40 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 8,280 | $764,244.00 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 15,000 | $15,511.50 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 1,150 | $249,251.00 |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 15,000 | $15,637.50 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 720 | $30,261.60 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 2,305 | $248,963.05 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 4,540 | $471,455.51 |
| 713448108 | PEPSICO INC | US | PEP | 3,730 | $506,645.90 |
| 71654V101 | PETROLEO BRASIL-SP PREF ADR | BR | PBR/A | 12,033 | $165,092.76 |
| 717081103 | PFIZER INC | US | PFE | 10,019 | $385,931.88 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 20,000 | $16,750.00 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 2,695 | $51,717.05 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 955 | $17,705.70 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 1,390,000 | $1,486,262.30 | |
| 74166MAB2 | PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 | US | 15,000 | $15,450.00 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 15,000 | $15,667.80 | |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 299,752.28 | $299,686.48 | |
| 74340W103 | PROLOGIS | US | PLD | 1,675 | $153,346.25 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 300 | $63,204.00 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 25,000 | $26,187.50 | |
| 756109104 | REALTY INCOME CORP | US | O | 240 | $18,391.20 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 3,322 | $181,248.32 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 20,000 | $20,280.09 | |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 910 | $240,831.50 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 950 | $224,646.50 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 25,000 | $25,781.25 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 833,332.93 | $836,637.60 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 1,180,000 | $1,349,764.10 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 960,000 | $1,032,798.90 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,090 | $184,258.00 |
| 81141R100 | SEA LTD - ADR | SG | SE | 6,490 | $240,389.60 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 1,290 | $155,251.50 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 266,578.34 | $268,145.47 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 364,943.02 | $367,737.02 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 276,748.57 | $265,878.38 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,760 | $498,150.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 15,000 | $12,726.75 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 680 | $102,822.80 |
| 83401LAB0 | SOFI 2015-A A2 2.42000 03/25/2030 | US | 206,237.1 | $206,239.72 | |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 262,540.34 | $262,343.15 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 91,910.96 | $92,001.21 | |
| 83405DAB4 | SOFI 2017-C A2A 1.75000 07/25/2040 | US | 679.34 | $679.06 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 305,086.65 | $307,198.06 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 7,880 | $500,222.40 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 1,050,000 | $1,059,443.95 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 30,000 | $30,718.20 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 15,000 | $15,907.50 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 15,000 | $16,162.50 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 910 | $28,200.90 |
| 855030AN2 | STAPLES INC 7.50000 04/15/2026 | US | 20,000 | $20,925.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 2.98538 11/15/2027 | US | 884,246.53 | $882,578.13 | |
| 858912AF5 | STERICYCLE INC 5.37500 07/15/2024 | US | 20,000 | $20,900.00 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 680 | $27,682.80 |
| 86212XAA8 | STR 2019-1 A1 MTGE 2.82000 11/20/2049 | US | 300,000 | $300,937.50 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 415 | $68,354.65 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 15,000 | $13,575.00 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 1,250 | $17,500.00 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 133,479.3 | $133,429.67 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 15,000 | $13,350.00 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 710,000 | $762,678.79 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,935 | $232,606.35 |
| 88579Y101 | 3M CO | US | MMM | 1,292 | $219,342.84 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 3,499 | $183,837.46 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 668,293.74 | $669,787.44 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 307,815.43 | $309,091.08 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.70800 10/25/2048 | US | 282,070.08 | $282,887.04 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 15,000 | $15,075.00 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 785,935.55 | $784,304.42 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 498,585.56 | $502,664.54 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 70,000 | $68,337.50 | |
| 902653104 | UDR INC | US | UDR | 1,133 | $54,440.65 |
| 902973304 | U.S. BANCORP | US | USB | 3,466 | $208,063.98 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 1,045 | $16,312.45 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 12,203 | $725,956.47 |
| 907818108 | UNION PAC CORP | US | UNP | 1,380 | $242,866.20 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,961 | $234,790.53 |
| 912796SZ3 | TREASURY BILL 0.00000 07/16/2020 | US | 800,000 | $792,148.32 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 689,734.1 | $728,754.30 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 1,066,000 | $1,241,098.83 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 2,635,000 | $2,670,407.81 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 2,581,749.44 | $2,610,732.75 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 5,440,057.5 | $5,424,735.14 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,877,000 | $3,856,252.00 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 2,272,000 | $2,343,798.74 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 3,730,000 | $3,868,709.38 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 3,759,000 | $3,846,954.74 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 1,662 | $246,541.08 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,895 | $39,283.35 |
| 918204108 | VF CORP | US | VFC | 1,098 | $97,216.92 |
| 91913Y100 | VALERO ENERGY | US | VLO | 1,179 | $112,582.71 |
| 92276F100 | VENTAS INC | US | VTR | 599 | $34,927.69 |
| 92339V100 | VEREIT INC | US | VER | 5,395 | $52,655.20 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 1,200,000 | $1,516,381.67 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 720 | $159,660.00 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 4,060 | $749,110.60 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 20,000 | $19,300.00 | |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 50,000 | $50,232.50 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 280 | $18,079.60 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 15,000 | $13,800.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.81538 12/15/2033 | US | 390,000 | $390,242.85 | |
| 931142103 | WAL MART STORES | US | WMT | 3,799 | $452,422.91 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 2,248 | $133,980.80 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,151 | $129,959.41 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 25,000 | $25,562.50 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 1,230 | $39,163.20 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,520 | $409,539.20 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 761 | $64,357.77 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 750,000 | $767,858.40 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 227,640.12 | $227,868.56 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 366,435.62 | $373,206.25 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 515 | $29,833.95 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 30,000 | $28,256.28 | |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $20,336.08 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $108,420.69 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $55,747.20 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 1,800,000 | $92,425.60 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 54,400 | $743,187.82 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $18,702.31 | |
| BBG00Q7Z9PN7 | SE US 12/20/19 C39 | SG | -35 | -$2,275.00 | |
| BBG00QR025W3 | MU US 12/13/19 P43 | US | -42 | -$588.00 | |
| BD3HF92 | BSR REAL ESTATE INVESTMENT | CA | HOM/U CN | 600 | $7,632.54 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 16,295 | $26,176.56 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 12,080 | $509,717.47 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 13,350 | $415,377.45 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 5,390 | $427,255.88 |
| G29183103 | EATON CORP PLC | US | ETN | 1,246 | $115,255.00 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 9,749 | $1,085,941.11 |
| H01301128 | ALCON INC | CH | ALC | 4,150 | $229,453.50 |
| H1467J104 | CHUBB LTD | CH | CB | 786 | $119,063.28 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 12,560 | $62,548.80 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 995 | $84,614.80 |
| USD | US DOLLAR | US | 2,357,740.96 | $2,357,740.96 |
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.
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 45 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.
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