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Pro-Mix® Conservative Term CIT
Pro-Mix® Conservative Term CIT
Fi360 ETF Target 2015 CIT
Fi360 ETF Target 2020 CIT
Fi360 ETF Target 2025 CIT
Fi360 ETF Target 2030 CIT
Fi360 ETF Target 2035 CIT
Fi360 ETF Target 2040 CIT
Fi360 ETF Target 2045 CIT
Fi360 ETF Target 2050 CIT
Fi360 ETF Target 2055 CIT
Fi360 ETF Target Income 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
$27.56
Daily $ Change
$0.08
Daily % Change
0.29%
as of 02/15/2019
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 01/31/2019
YTD
3.02%
1 Year
0.00%
3 Year
5.00%
5 Year
2.94%
10 Year
5.63%
Inception
(01/01/2000)
5.41%
US Stock Market Cycle (04/01/2000 - 01/31/2019)
5.35%
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 | 0.86% |
| Net | 0.85%* |
*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 01/31/2019
| TREASURY NOTES | 13.30% |
| GOVERNMENT AGENCY | 8.85% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 5.02% |
| TREASURY BONDS | 2.56% |
| SWEDISH EXPORT CREDIT 1.12500 08/28/2019 | 1.19% |
| VERIZON COMMUNICATIONS 5.50000 03/16/2047 | 1.13% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.09% |
| PRICELINE GROUP INC/THE 3.60000 06/01/2026 | 1.09% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.08% |
| SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | 1.07% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 01/31/2019
| Bonds | 70.76% |
| Stocks | 27.87% |
| Cash | 1.37% |
Detailed Asset Class Allocation
As of 01/31/2019
| International Equities | 6.51% |
| Small Capitalization | 1.12% |
| Mid Capitalization | 2.19% |
| Large Capitalization | 18.06% |
| Long Term Fixed Income | 19.11% |
| Intermediate Term Fixed Income | 32.49% |
| Short Term Fixed Income | 19.15% |
| Cash | 1.37% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
January Fund Holdings
As of 01/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 000375204 | ABB LTD-SPON ADR | CH | ABB | 3,508 | $67,178.20 |
| 00101JAH9 | ADT SEC CORP 4.12500 06/15/2023 | US | 75,000 | $72,187.50 | |
| 00101JAM8 | ADT CORP 5.25000 03/15/2020 | US | 30,000 | $30,450.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 980,000 | $991,845.26 | |
| 00254EML3 | SWEDISH EXPORT CREDIT 1.12500 08/28/2019 | SE | 1,700,000 | $1,685,550.00 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 1,773 | $142,354.17 |
| 00289XAA7 | ABENGOA YIELD PLC 7.00000 11/15/2019 | GB | 105,000 | $105,262.50 | |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 530 | $15,226.90 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 960,000 | $939,350.88 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 340 | $22,450.20 |
| 00928QAK7 | AIRCASTLE LTD 6.25000 12/01/2019 | BM | 40,000 | $40,860.18 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 130 | $17,122.30 |
| 01748XAA0 | ALLEGIANT TRAVEL CO 5.50000 07/15/2019 | US | 50,000 | $50,437.50 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 435 | $38,223.45 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 410 | $457,711.70 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 240 | $270,213.60 |
| 023135106 | AMAZON.COM INC | US | AMZN | 150 | $257,809.50 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 55,470 | $266,810.70 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 16,955 | $647,110.26 |
| 02376RAA0 | AMERICAN AIRLINES GROUP 5.50000 10/01/2019 | US | 170,000 | $171,207.00 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 550 | $25,311.00 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 3,245 | $71,746.95 |
| 02666TAA5 | AMERICAN HOMES 4 RENT 4.25000 02/15/2028 | US | 500,000 | $481,611.39 | |
| 02753GAA7 | AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 | US | 45,000 | $41,850.00 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 1,560 | $269,630.40 |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 27,761.68 | $27,977.39 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 495 | $14,513.40 |
| 031162100 | AMGEN INC | US | AMGN | 845 | $158,107.95 |
| 03748R101 | APARTMENT INVT & MGMT CO -A | US | AIV | 975 | $48,282.00 |
| 037833100 | APPLE COMPUTER INC | US | AAPL | 670 | $111,514.80 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 945 | $15,507.45 |
| 03969AAL4 | ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 | IE | 40,000 | $38,900.00 | |
| 03990B101 | ARES MANAGEMENT CORP - A | US | ARES | 3,100 | $64,666.00 |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 700 | $97,888.00 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 930 | $179,415.60 |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 3,420 | $140,630.40 |
| 058498106 | BALL CORP | US | BLL | 13,670 | $714,667.60 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 8,460 | $240,856.20 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 1,540,000 | $1,552,103.37 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,840 | $378,193.60 |
| 088606108 | BHP GROUP LTD | AU | BHP | 2,496 | $127,770.24 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 2,910 | $285,674.70 |
| 09247X101 | BLACKROCK INC | US | BLK | 440 | $182,635.20 |
| 09253U108 | BLACKSTONE GROUP LP/THE | US | BX | 2,695 | $90,821.50 |
| 096630AE8 | BOARDWALK PIPELINES LP 5.95000 06/01/2026 | US | 1,420,000 | $1,458,361.85 | |
| 097023105 | BOEING CO | US | BA | 623 | $240,241.26 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 450 | $824,764.50 |
| 0989529 | ASTRAZENECA PLC | GB | AZN LN | 1,345 | $97,434.13 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 795 | $104,836.65 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 4,360 | $65,618.00 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 2,794 | $137,939.78 |
| 11134LAB5 | BROADCOM CRP / CAYMN FI 2.37500 01/15/2020 | US | 1,070,000 | $1,061,715.64 | |
| 11135F101 | BROADCOM INC | US | AVGO | 422 | $113,201.50 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 40,000 | $38,075.20 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 2,480 | $231,309.60 |
| 12572Q105 | CME GROUP INC | US | CME | 1,450 | $264,306.00 |
| 125896100 | CMS ENERGY CORP | US | CMS | 1,705 | $88,898.70 |
| 12592BAB0 | CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 | US | 1,020,000 | $1,021,824.63 | |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 510,204.47 | $482,320.16 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 1,472 | $96,489.60 |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 160 | $15,512.00 |
| 149123101 | CATERPILLAR INC | US | CAT | 623 | $82,958.68 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 30,616.93 | $30,463.85 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 392,590.61 | $390,779.79 | |
| 156504AH5 | CENTURY COMMUNITIES 5.87500 07/15/2025 | US | 95,000 | $87,400.00 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 659,456.79 | $652,478.35 | |
| 165240102 | CHESAPEAKE LODGING TRUST | US | CHSP | 830 | $23,638.40 |
| 166764100 | CHEVRON CORP | US | CVX | 1,130 | $129,554.50 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 1,492 | $124,507.40 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 4,832 | $228,505.28 |
| 172967424 | CITIGROUP INC | US | C | 3,055 | $196,925.30 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 530,000 | $772,874.36 | |
| 191216100 | COCA COLA CO/THE | US | KO | 10,905 | $524,857.65 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,357 | $152,450.76 |
| 199908104 | COMFORT SYSTEMS | US | FIX | 1,040 | $49,888.80 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 3,923 | $143,464.11 |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 2,703 | $89,253.06 |
| 2099084 | BORALEX INC -A | CA | BLX CN | 2,260 | $32,146.89 |
| 21871N101 | CORECIVIC INC | US | CXW | 3,845 | $76,400.15 |
| 222795106 | COUSINS PROPERTIES INC | US | CUZ | 7,645 | $67,658.25 |
| 22282E102 | COVANTA HOLDING CORP | US | CVA | 6,335 | $101,993.50 |
| 22282EAH5 | COVANTA HOLDING CORP 6.00000 01/01/2027 | US | 45,000 | $43,087.50 | |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 1,040,000 | $1,061,430.46 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 1,180 | $138,130.80 |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 359,855.94 | $339,327.78 | |
| 229663109 | CUBESMART | US | CUBE | 420 | $12,999.00 |
| 23311RAD8 | DCP MIDSTREAM OPERATING 5.35000 03/15/2020 | US | 30,000 | $30,450.00 | |
| 23918K108 | DAVITA INC. | US | DVA | 5,690 | $319,379.70 |
| 23918KAR9 | DAVITA INC 5.00000 05/01/2025 | US | 70,000 | $67,375.00 | |
| 247361702 | DELTA AIR LINES INC. | US | DAL | 1,085 | $53,631.55 |
| 25271C102 | DIAMOND OFFSHORE DRILLING | US | DO | 7,220 | $78,914.60 |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 740 | $80,171.60 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 1,050,000 | $992,502.00 | |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 1,120 | $129,281.60 |
| 26078J100 | DOWDUPONT INC | US | DWDP | 1,811 | $97,449.91 |
| 26151AAA7 | DRAX FINCO PLC 6.62500 11/01/2025 | GB | 100,000 | $99,500.00 | |
| 26780TAA5 | DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 | MH | 100,000 | $97,250.00 | |
| 269246401 | ETRADE FINANCIAL CORP | US | ETFC | 2,780 | $129,714.80 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 6,040 | $142,179.84 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 7,260 | $147,415.66 |
| 285512109 | ELECTRONIC ARTS | US | EA | 3,000 | $276,720.00 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,116 | $73,064.52 |
| 29444U700 | EQUINIX INC | US | EQIX | 1,545 | $608,730.00 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 365 | $38,646.20 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 1,470 | $106,663.20 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 240 | $65,088.00 |
| 30161N101 | EXELON CORP | US | EXC | 1,195 | $57,073.20 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,536,456.10 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 350 | $34,513.50 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 4,250 | $311,440.00 |
| 302491303 | FMC CORP | US | FMC | 1,260 | $100,548.00 |
| 30251JAA9 | FDIC 2011-R1 A 2.67200 07/25/2026 | US | 41,766.43 | $41,588.68 | |
| 30262DAL5 | FREMF 2011-K13 B 4.61160 01/25/2048 | US | 410,000 | $420,673.65 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.85135 12/25/2024 | US | 180,000 | $178,962.59 | |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 55,000 | $54,656.25 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.83213 11/25/2047 | US | 700,000 | $707,564.27 | |
| 30291EAE4 | FREMF 2013-K712 B FLT 3.35787 05/25/2045 | US | 1,150,000 | $1,150,110.17 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,898,199.23 | $35,314.52 | |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 11,244.47 | $11,351.38 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 166,314.3 | $179,283.00 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 3,798.44 | $4,102.53 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 16,014.02 | $17,560.72 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 129,511.08 | $142,004.87 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 45,018.09 | $48,885.04 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 83,134.6 | $85,518.72 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 6,048.15 | $6,186.88 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 5,468.53 | $5,637.08 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 633,503.29 | $662,422.16 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 92,059.29 | $98,696.93 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 47,119.68 | $49,429.86 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 491,498.67 | $516,921.12 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 154,392.96 | $158,555.74 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 586,833.8 | $602,622.01 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 4,100.83 | $4,119.49 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 427,762.3 | $435,907.02 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 55,232.67 | $60,183.56 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 5,453.96 | $5,542.91 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 7,087.27 | $7,721.67 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 120 | $15,908.40 |
| 3137A2B34 | FHMS K009 X1 FLT 1.27311 08/25/2020 | US | 1,111,498.61 | $17,106.07 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.14907 04/25/2021 | US | 10,997,552.41 | $243,318.65 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.47787 10/25/2021 | US | 2,406,370.92 | $82,404.73 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.44244 06/25/2022 | US | 15,856,465.74 | $650,110.34 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.19598 04/25/2023 | US | 30,330,733.83 | $225,472.61 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.10305 05/25/2023 | US | 17,794,712.05 | $82,213.35 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 541,904.2 | $557,267.13 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 536,740.94 | $557,678.29 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 288,095.54 | $301,670.67 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 31,448.13 | $32,686.60 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 106,400.46 | $111,733.70 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 | US | 665,465.54 | $723,882.32 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 914,833.39 | $924,560.68 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 616,905.66 | $646,847.24 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 1,075,747.2 | $1,086,359.87 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 61,737.66 | $67,253.24 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 10,221.48 | $11,631.35 | |
| 31406PTV1 | FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 | US | 5,342.88 | $5,430.14 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 591,455.35 | $607,238.47 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 109,710.9 | $112,669.74 | |
| 3140FPGW3 | FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 | US | 599,599.36 | $615,577.96 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 161,818.26 | $168,230.03 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 484,700.71 | $510,385.18 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 396,137.96 | $417,130.85 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 510,271.77 | $530,503.01 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 217,176.48 | $228,685.80 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 326,902.84 | $344,227.07 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 4,181.75 | $4,282.37 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 5,041.62 | $5,163.54 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 36,791.26 | $37,384.47 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 44,805.29 | $45,536.24 | |
| 31410HAQ4 | MACYS RETAIL HLDGS INC 6.90000 04/01/2029 | US | 450,000 | $472,421.94 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 17,572.9 | $18,881.57 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 13,114.68 | $14,782.55 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 39,787.02 | $43,227.46 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,478.03 | $4,715.03 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 5,198.39 | $5,607.03 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 18,286.14 | $20,563.05 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,909.42 | $12,994.52 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,632.62 | $2,878.14 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 11,136.91 | $12,105.57 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 8,020.27 | $8,250.17 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 44,965.27 | $45,829.27 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 12,549.18 | $13,535.66 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 15,401.54 | $16,371.41 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 10,508.25 | $11,200.31 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 25,701.68 | $26,136.45 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 17,660.6 | $18,557.34 | |
| 31418B6G6 | FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 | US | 415,048.26 | $407,931.19 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 245,950.99 | $257,941.02 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 222,716.92 | $233,662.72 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 457,111.72 | $449,273.27 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 541,806.51 | $563,435.27 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 29,384.64 | $32,270.34 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 102,300.93 | $110,084.30 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 18,092.42 | $19,648.26 | |
| 31428X106 | FEDEX CORPORATION | US | FDX | 1,225 | $217,523.25 |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 35,000 | $33,687.50 | |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 935 | $25,076.70 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 790 | $25,848.80 |
| 335934AK1 | FIRST QUANTUM MINERALS L 7.25000 04/01/2023 | CA | 25,000 | $23,937.75 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 35,000 | $33,600.00 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.39010 07/25/2022 | US | 100,000 | $100,279.28 | |
| 35802XAD5 | FRESENIUS MED CARE II 5.62500 07/31/2019 | US | 1,196,000 | $1,207,702.74 | |
| 36143WAN1 | GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 | US | 1,100,000 | $1,093,645.85 | |
| 36143WAS0 | GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 | US | 440,000 | $435,205.72 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 115,000 | $113,328.35 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 19,256.38 | $19,386.31 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 31,006.48 | $33,100.09 | |
| 363576109 | ARTHUR J GALLAGHER & CO | US | AJG | 695 | $51,923.45 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 890,000 | $778,750.00 | |
| 37045VAR1 | GENERAL MOTORS CO FLT 3.66713 09/10/2021 | US | 950,000 | $930,050.00 | |
| 37185LAF9 | GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 | US | 35,000 | $32,200.00 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 990 | $31,739.40 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,812 | $126,858.12 |
| 37953TAB1 | GLOBAL SHIP LEASE INC 9.87500 11/15/2022 | MH | 99,000 | $96,153.75 | |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 500,000 | $504,641.71 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 459,871.1 | $439,820.86 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 11,465 | $138,382.55 |
| 39807UAB2 | GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 | US | 50,000 | $49,625.00 | |
| 40414L109 | HCP INC | US | HCP | 1,685 | $53,144.90 |
| 406216101 | HALLIBURTON CO | US | HAL | 10,495 | $329,123.20 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 2,625 | $84,761.25 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 3,570 | $101,459.40 |
| 42809H107 | HESS CORP | US | HES | 2,235 | $120,690.00 |
| 437076102 | HOME DEPOT INC | US | HD | 1,202 | $220,603.06 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 2,780 | $83,594.60 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 967 | $138,890.21 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 2,160 | $39,009.60 |
| 444454AB8 | HUGHES SATELITE SYSTEMS 6.50000 06/15/2019 | US | 75,000 | $75,778.50 | |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 80,000 | $76,600.00 | |
| 446150104 | HUNTINGTON BANCSHARES | US | HBAN | 1,735 | $22,971.40 |
| 45031UCD1 | ISTAR INC 5.25000 09/15/2022 | US | 75,000 | $73,837.50 | |
| 45337C102 | INCYTE CORP | US | INCY | 6,530 | $526,252.70 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 6,155 | $64,319.75 |
| 45763PAE6 | INMARSAT FINANCE PLC 4.87500 05/15/2022 | GB | 85,000 | $82,237.50 | |
| 458140100 | INTEL CORP | US | INTC | 10,207 | $480,953.84 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 3,445 | $264,438.20 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,079 | $145,039.18 |
| 459745GH2 | INTL LEASE FINANCE CORP 6.25000 05/15/2019 | US | 1,040,000 | $1,048,867.78 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 3.35750 12/17/2036 | US | 156,133.74 | $154,626.21 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 3.65750 12/17/2036 | US | 120,000 | $119,487.84 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 2,256 | $50,737.44 |
| 464287598 | ISHARES RUSSELL 1000 VALUE | US | 930 | $111,162.90 | |
| 466032109 | J&J SNACK FOODS CORP | US | JJSF | 640 | $98,784.00 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 4,847 | $501,664.50 |
| 46625HHL7 | JPMORGAN CHASE & CO 6.30000 04/23/2019 | US | 1,480,000 | $1,491,326.03 | |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 43,651.63 | $44,196.12 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 248,805.48 | $242,449.25 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 286,882.41 | $283,318.76 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 322,997.16 | $320,254.59 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 760,000 | $778,723.20 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 471,939.56 | $469,923.43 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 349,364.72 | $347,872.23 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 5,175 | $543,369.07 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 4,285 | $92,898.80 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 9,695 | $1,290,210.60 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 95,000 | $70,300.00 | |
| 485170302 | KANSAS CITY SOUTHERN | US | KSU | 1,180 | $124,785.00 |
| 493267108 | KEYCORP | US | KEY | 3,495 | $57,562.65 |
| 49446R109 | KIMCO REALTY CORP | US | KIM | 1,410 | $23,984.10 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 1,280,000 | $1,511,280.95 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 321,000 | $321,063.26 | |
| 500472303 | KONINKLIJKE PHILIPS NVR - NY ADR | NL | PHG | 1,607 | $63,364.01 |
| 500754106 | KRAFT HEINZ CO/THE | US | KHC | 1,540 | $74,012.40 |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 65,000 | $62,562.50 | |
| 50212YAB0 | LPL HOLDINGS INC 5.75000 09/15/2025 | US | 45,000 | $44,248.50 | |
| 502160AM6 | LSB INDUSTRIES 9.62500 05/01/2023 | US | 55,000 | $55,962.50 | |
| 529043101 | LEXINGTON REALTY TRUST | US | LXP | 6,825 | $65,588.25 |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 1,295 | $61,046.30 |
| 532457108 | ELI LILLY & CO | US | LLY | 2,034 | $243,795.24 |
| 534187109 | LINCOLN NATL CORP IND | US | LNC | 560 | $32,754.40 |
| 53815P108 | LIVERAMP HOLDINGS INC | US | RAMP | 8,860 | $384,878.40 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 368 | $106,605.92 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 35,000 | $33,600.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 2,825 | $417,563.25 |
| 55616XAC1 | MACYS RETAIL HLDGS INC 7.00000 02/15/2028 | US | 450,000 | $467,504.94 | |
| 55933JAB0 | MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 | US | 80,000 | $76,000.00 | |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 902 | $59,766.52 |
| 5671735 | SANOFI-AVENTIS | FR | SAN FP | 793 | $68,925.72 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 4,110 | $867,744.30 |
| 580135101 | MCDONALDS CORP | US | MCD | 942 | $168,410.76 |
| 58502BAC0 | MEDNAX INC 6.25000 01/15/2027 | US | 40,000 | $40,300.00 | |
| 58933Y105 | MERCK & CO INC | US | MRK | 9,157 | $681,555.51 |
| 59001ABA9 | MERITAGE HOMES CORP 5.12500 06/06/2027 | US | 35,000 | $31,401.30 | |
| 594918104 | MICROSOFT CORP | US | MSFT | 9,025 | $942,480.75 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 435 | $44,056.80 |
| 60871R209 | MOLSON COORS BREWING CO -B | US | TAP | 1,400 | $93,254.00 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 16,457 | $761,300.82 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 2,155 | $341,589.05 |
| 61744YAG3 | MORGAN STANLEY FLT 3.81125 05/08/2024 | US | 1,360,000 | $1,363,250.40 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 75,000 | $75,750.00 | |
| 624758108 | MUELLER WATER PRODUCTS INC - A | US | MWA | 5,295 | $52,314.60 |
| 62913TAM4 | NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 | US | 50,000 | $45,187.50 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 595 | $31,362.45 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 455 | $13,240.50 |
| 63938CAE8 | NAVIENT CORP 7.25000 09/25/2023 | US | 45,000 | $45,787.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 334,414.88 | $334,237.00 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 412,169.04 | $412,355.34 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 515,243.02 | $514,503.13 | |
| 651229106 | NEWELL BRANDS INC | US | NWL | 4,965 | $105,307.65 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 75,000 | $74,715.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 11,725 | $1,026,172.00 |
| 67020YAQ3 | NUANCE COMMUNICATIONS 5.62500 12/15/2026 | US | 60,000 | $58,800.00 | |
| 67103H107 | O'REILLY AUTOMOTIVE INC | US | ORLY | 225 | $77,548.50 |
| 680223104 | OLD REPUBLIC INTL CORP | US | ORI | 2,080 | $41,912.00 |
| 68323ADY7 | ONTARIO (PROVINCE OF) 1.25000 06/17/2019 | CA | 450,000 | $447,597.31 | |
| 69145LAA2 | OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 | US | 70,000 | $70,875.00 | |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 320 | $39,254.40 |
| 70014LAC4 | PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 | KY | 80,000 | $78,500.00 | |
| 70338P100 | PATTERN ENERGY GROUP INC -A | US | PEGI | 2,215 | $47,135.20 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 6,445 | $561,900.17 |
| 713448108 | PEPSICO INC | US | PEP | 7,062 | $795,675.54 |
| 71642QAB3 | PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 | GB | 40,000 | $37,600.00 | |
| 717081103 | PFIZER INC | US | PFE | 6,038 | $256,313.10 |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 6,275 | $113,640.25 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 1,945 | $31,197.80 | |
| 741503AZ9 | PRICELINE GROUP INC/THE 3.60000 06/01/2026 | US | 1,570,000 | $1,543,568.37 | |
| 74251V102 | PRINCIPAL FINANCIAL GROUP | US | PFG | 620 | $31,043.40 |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 300,000 | $292,197.72 | |
| 74340W103 | PROLOGIS | US | PLD | 2,050 | $141,778.00 |
| 744320AL6 | PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 | US | 960,000 | $998,400.00 | |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 390 | $82,882.80 |
| 74736K101 | QORVO INC | US | QRVO | 8,755 | $572,226.80 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 1,280 | $73,164.80 |
| 756109104 | REALTY INCOME CORP | US | O | 250 | $17,172.50 |
| 75886F107 | REGENERON PHARMACEUTICALS INC | US | REGN | 625 | $268,293.75 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 2,235 | $33,904.95 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 1,876 | $105,562.52 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 40,000 | $40,700.00 | |
| 77714PAB5 | SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 | US | 35,000 | $33,250.00 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 1,125 | $70,650.00 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 1,815 | $347,844.75 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 1,490 | $271,969.70 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 75,000 | $72,750.00 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 875,000 | $860,072.59 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 1,410,000 | $1,527,827.38 | |
| 80105N105 | SANOFI-AVENTIS-ADR | FR | SNY | 3,275 | $142,298.75 |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 960,000 | $977,507.16 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,745 | $253,986.45 |
| 808513105 | CHARLES SCHWAB CORP/THE | US | SCHW | 5,910 | $276,410.70 |
| 81211K100 | SEALED AIR CORP | US | SEE | 10,900 | $430,550.00 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 4,590 | $350,813.70 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 296,940.65 | $287,651.46 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 406,021.99 | $394,856.39 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 312,645.97 | $281,828.61 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,420 | $312,428.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 45,000 | $40,837.50 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 940 | $171,192.80 |
| 83401LAB0 | SOFI 2015-A A2 2.42000 03/25/2030 | US | 340,312.23 | $336,600.48 | |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 396,577.32 | $389,188.37 | |
| 83404FAB0 | SOFI 2017-A A2A 1.55000 03/26/2040 | US | 13,864.38 | $13,767.44 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 128,275.89 | $125,473.34 | |
| 83405DAB4 | SOFI 2017-C A2A 1.75000 07/25/2040 | US | 22,715.95 | $22,554.60 | |
| 83405LAA8 | SCLP 2017-5 A1 2.14000 09/25/2026 | US | 169,669.13 | $168,998.65 | |
| 835495102 | SONOCO PRODUCTS CO | US | SON | 1,975 | $113,720.50 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 940,000 | $965,944.03 | |
| 844741108 | SOUTHWEST AIRLS CO | US | LUV | 970 | $55,057.20 |
| 845467AL3 | SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 | US | 95,000 | $92,150.00 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 2,780 | $76,644.60 |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.72894 11/15/2027 | US | 905,197.38 | $896,724.82 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 510 | $16,483.20 |
| 866674104 | SUN COMMUNITIES | US | SUI | 565 | $62,099.15 |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 2,020 | $28,886.00 |
| 867914103 | SUNTRUST BANKS INC | US | STI | 585 | $34,760.70 |
| 874039100 | TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 5,606 | $210,897.72 |
| 87612E106 | TARGET CORP | US | TGT | 2,145 | $156,585.00 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 184,995.08 | $183,415.50 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 60,000 | $56,025.00 | |
| 88104LAE3 | TERRAFORM POWER OPERATIN 5.00000 01/31/2028 | US | 30,000 | $27,862.50 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,391 | $140,045.88 |
| 88579Y101 | 3M CO | US | MMM | 1,023 | $204,906.90 |
| 88650V208 | TIER REIT INC | US | TIER | 2,425 | $56,987.50 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 840,445.94 | $815,226.51 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 804,209.27 | $782,645.60 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 498,745.68 | $482,868.91 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 75,000 | $74,176.50 | |
| 902653104 | UDR INC | US | UDR | 1,565 | $68,468.75 |
| 902973304 | U.S. BANCORP | US | USB | 2,216 | $113,370.56 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 1,170 | $16,415.10 |
| 90320MAA3 | UPCB FINANCE IV LTD 5.37500 01/15/2025 | KY | 40,000 | $38,500.00 | |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 12,364 | $650,346.40 |
| 907818108 | UNION PAC CORP | US | UNP | 994 | $158,115.58 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,140 | $120,156.00 |
| 912796QY8 | TREASURY BILL 0.00000 02/21/2019 | US | 750,000 | $749,023.96 | |
| 912810PT9 | UNITED STATES TREAS BOND 4.75000 02/15/2037 | US | 1,701,000 | $2,178,077.34 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 772,979.13 | $721,718.94 | |
| 912810RK6 | US TREASURY N/B 2.50000 02/15/2045 | US | 1,605,000 | $1,459,233.40 | |
| 912828D23 | US TREASURY N/B 1.62500 04/30/2019 | US | 4,350,000 | $4,341,333.97 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 7,237,458.38 | $7,141,430.11 | |
| 912828R28 | US TREASURY N/B 1.62500 04/30/2023 | US | 3,005,000 | $2,905,928.91 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,230,000 | $3,033,676.56 | |
| 912828UH1 | UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 | US | 773,509.04 | $755,890.42 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 2,905,000 | $2,839,637.50 | |
| 912828XQ8 | US TREASURY N/B 2.00000 07/31/2022 | US | 5,875,000 | $5,789,628.91 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 1,026 | $121,139.82 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 2,105 | $42,984.10 |
| 91913Y100 | VALERO ENERGY | US | VLO | 798 | $70,080.36 |
| 92276F100 | VENTAS INC | US | VTR | 545 | $35,147.05 |
| 92339V100 | VEREIT INC | US | VER | 5,610 | $45,328.80 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 2,305 | $126,913.30 |
| 92343VDV3 | VERIZON COMMUNICATIONS 5.50000 03/16/2047 | US | 1,430,000 | $1,600,125.78 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 1,100 | $210,001.00 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 5,740 | $774,957.40 |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 50,000 | $50,804.90 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 720 | $50,335.20 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 45,000 | $43,762.50 | |
| 92960PAA7 | W/S PACKAGING HOLDINGS 9.00000 04/15/2023 | US | 45,000 | $45,225.00 | |
| 931142103 | WAL MART STORES | US | WMT | 2,904 | $278,290.32 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 1,130 | $81,653.80 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,690 | $161,682.30 |
| 948565AC0 | WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 | US | 45,000 | $41,850.00 | |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 75,000 | $69,000.00 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 1,350 | $38,731.50 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,616 | $372,498.56 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 650 | $50,368.50 |
| 962178AL3 | TRI POINTE HOLDINGS INC 4.37500 06/15/2019 | US | 150,000 | $150,000.00 | |
| 962178AN9 | TRI POINTE GROUP / HOMES 5.87500 06/15/2024 | US | 45,000 | $43,368.75 | |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 750,000 | $729,681.36 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 350,773.35 | $349,791.15 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 438,586.7 | $433,435.02 | |
| 98919V105 | ZAYO GROUP HOLDINGS INC | US | ZAYO | 5,385 | $147,818.25 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 90,000 | $85,275.00 | |
| B29TNV3 | INNERGEX RENEWABLE ENERGY | CA | INE CN | 3,755 | $41,095.09 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $20,149.30 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $109,860.50 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $54,627.10 | |
| B4YN9R2 | SINGAPORE GOVERNMENT 2.50000 06/01/2019 | SG | 240,000 | $178,526.52 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 1,800,000 | $93,779.13 | |
| B68XHC3 | NORTHLAND POWER INC | CA | NPI CN | 2,255 | $40,965.68 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $17,113.21 | |
| BBG00MJRX139 | QRVO US 02/15/19 C67.5 | US | -22 | -$3,960.00 | |
| BBG00MMG82L5 | GOOG US 02/15/19 C1110 | US | -1 | -$3,700.00 | |
| BBG00MSXTDS8 | NOW US 02/01/19 C202.5 | US | -7 | -$12,215.00 | |
| BBG00MY7SR35 | MSFT US 02/08/19 C111 | US | -13 | -$130.00 | |
| BBG00N27NTT1 | BKNG US 03/01/19 C1970 | US | -1 | -$1,980.00 | |
| BD82246 | EAGLE BULK SHIPCO 8.25000 11/28/2022 | MH | 196,000 | $194,040.00 | |
| BF955D8 | TELENET FINANCE LUX NOTE 5.50000 03/01/2028 | LU | 100,000 | $94,500.00 | |
| BFYM460 | UNIBAIL-RODAMCO-WESTFIELD | FR | URW NA | 190 | $34,171.76 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 17,145 | $25,786.09 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 12,630 | $562,219.62 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 11,460 | $320,572.29 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 7,860 | $600,528.70 |
| G3157S106 | ENSCO INTERNATIONAL INC | US | ESV | 21,405 | $94,182.00 |
| G37585AC3 | GASLOG LTD 8.87500 03/22/2022 | BM | 80,000 | $81,200.00 | |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 2,700 | $91,179.00 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 13,373 | $1,182,039.47 |
| G96629103 | WILLIS TOWERS WATSON PLC | GB | WLTW | 280 | $45,581.20 |
| H1467J104 | CHUBB LTD | CH | CB | 440 | $58,542.00 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 13,735 | $117,708.95 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 8,025 | $481,821.00 |
| N53745100 | LYONDELLBASELL INDU-CL A | US | LYB | 699 | $60,792.03 |
| USD | US DOLLAR | US | 1,978,334.7 | $1,978,334.70 |
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
$27.56
Daily $ Change
$0.08
Daily % Change
0.29%
as of 02/15/2019
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 01/31/2019
YTD
3.02%
1 Year
0.00%
3 Year
5.00%
5 Year
2.94%
10 Year
5.63%
Inception
(01/01/2000)
5.41%
US Stock Market Cycle (04/01/2000 - 01/31/2019)
5.35%
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 | 0.86% |
| Net | 0.85%* |
*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
Top Ten Investments
As of 01/31/2019
| TREASURY NOTES | 13.30% |
| GOVERNMENT AGENCY | 8.85% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 5.02% |
| TREASURY BONDS | 2.56% |
| SWEDISH EXPORT CREDIT 1.12500 08/28/2019 | 1.19% |
| VERIZON COMMUNICATIONS 5.50000 03/16/2047 | 1.13% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.09% |
| PRICELINE GROUP INC/THE 3.60000 06/01/2026 | 1.09% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.08% |
| SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | 1.07% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 01/31/2019
| Bonds | 70.76% | |
| Stocks | 27.87% | |
| Cash | 1.37% |
Detailed Asset Class Allocation
As of 01/31/2019
| International Equities | 6.51% | |
| Small Capitalization | 1.12% | |
| Mid Capitalization | 2.19% | |
| Large Capitalization | 18.06% | |
| Long Term Fixed Income | 19.11% | |
| Intermediate Term Fixed Income | 32.49% | |
| Short Term Fixed Income | 19.15% | |
| Cash | 1.37% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
January Fund Holdings
As of 01/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 000375204 | ABB LTD-SPON ADR | CH | ABB | 3,508 | $67,178.20 |
| 00101JAH9 | ADT SEC CORP 4.12500 06/15/2023 | US | 75,000 | $72,187.50 | |
| 00101JAM8 | ADT CORP 5.25000 03/15/2020 | US | 30,000 | $30,450.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 980,000 | $991,845.26 | |
| 00254EML3 | SWEDISH EXPORT CREDIT 1.12500 08/28/2019 | SE | 1,700,000 | $1,685,550.00 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 1,773 | $142,354.17 |
| 00289XAA7 | ABENGOA YIELD PLC 7.00000 11/15/2019 | GB | 105,000 | $105,262.50 | |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 530 | $15,226.90 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 960,000 | $939,350.88 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 340 | $22,450.20 |
| 00928QAK7 | AIRCASTLE LTD 6.25000 12/01/2019 | BM | 40,000 | $40,860.18 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 130 | $17,122.30 |
| 01748XAA0 | ALLEGIANT TRAVEL CO 5.50000 07/15/2019 | US | 50,000 | $50,437.50 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 435 | $38,223.45 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 410 | $457,711.70 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 240 | $270,213.60 |
| 023135106 | AMAZON.COM INC | US | AMZN | 150 | $257,809.50 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 55,470 | $266,810.70 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 16,955 | $647,110.26 |
| 02376RAA0 | AMERICAN AIRLINES GROUP 5.50000 10/01/2019 | US | 170,000 | $171,207.00 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 550 | $25,311.00 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 3,245 | $71,746.95 |
| 02666TAA5 | AMERICAN HOMES 4 RENT 4.25000 02/15/2028 | US | 500,000 | $481,611.39 | |
| 02753GAA7 | AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 | US | 45,000 | $41,850.00 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 1,560 | $269,630.40 |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 27,761.68 | $27,977.39 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 495 | $14,513.40 |
| 031162100 | AMGEN INC | US | AMGN | 845 | $158,107.95 |
| 03748R101 | APARTMENT INVT & MGMT CO -A | US | AIV | 975 | $48,282.00 |
| 037833100 | APPLE COMPUTER INC | US | AAPL | 670 | $111,514.80 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 945 | $15,507.45 |
| 03969AAL4 | ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 | IE | 40,000 | $38,900.00 | |
| 03990B101 | ARES MANAGEMENT CORP - A | US | ARES | 3,100 | $64,666.00 |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 700 | $97,888.00 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 930 | $179,415.60 |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 3,420 | $140,630.40 |
| 058498106 | BALL CORP | US | BLL | 13,670 | $714,667.60 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 8,460 | $240,856.20 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 1,540,000 | $1,552,103.37 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,840 | $378,193.60 |
| 088606108 | BHP GROUP LTD | AU | BHP | 2,496 | $127,770.24 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 2,910 | $285,674.70 |
| 09247X101 | BLACKROCK INC | US | BLK | 440 | $182,635.20 |
| 09253U108 | BLACKSTONE GROUP LP/THE | US | BX | 2,695 | $90,821.50 |
| 096630AE8 | BOARDWALK PIPELINES LP 5.95000 06/01/2026 | US | 1,420,000 | $1,458,361.85 | |
| 097023105 | BOEING CO | US | BA | 623 | $240,241.26 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 450 | $824,764.50 |
| 0989529 | ASTRAZENECA PLC | GB | AZN LN | 1,345 | $97,434.13 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 795 | $104,836.65 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 4,360 | $65,618.00 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 2,794 | $137,939.78 |
| 11134LAB5 | BROADCOM CRP / CAYMN FI 2.37500 01/15/2020 | US | 1,070,000 | $1,061,715.64 | |
| 11135F101 | BROADCOM INC | US | AVGO | 422 | $113,201.50 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 40,000 | $38,075.20 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 2,480 | $231,309.60 |
| 12572Q105 | CME GROUP INC | US | CME | 1,450 | $264,306.00 |
| 125896100 | CMS ENERGY CORP | US | CMS | 1,705 | $88,898.70 |
| 12592BAB0 | CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 | US | 1,020,000 | $1,021,824.63 | |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 510,204.47 | $482,320.16 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 1,472 | $96,489.60 |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 160 | $15,512.00 |
| 149123101 | CATERPILLAR INC | US | CAT | 623 | $82,958.68 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 30,616.93 | $30,463.85 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 392,590.61 | $390,779.79 | |
| 156504AH5 | CENTURY COMMUNITIES 5.87500 07/15/2025 | US | 95,000 | $87,400.00 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 659,456.79 | $652,478.35 | |
| 165240102 | CHESAPEAKE LODGING TRUST | US | CHSP | 830 | $23,638.40 |
| 166764100 | CHEVRON CORP | US | CVX | 1,130 | $129,554.50 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 1,492 | $124,507.40 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 4,832 | $228,505.28 |
| 172967424 | CITIGROUP INC | US | C | 3,055 | $196,925.30 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 530,000 | $772,874.36 | |
| 191216100 | COCA COLA CO/THE | US | KO | 10,905 | $524,857.65 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,357 | $152,450.76 |
| 199908104 | COMFORT SYSTEMS | US | FIX | 1,040 | $49,888.80 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 3,923 | $143,464.11 |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 2,703 | $89,253.06 |
| 2099084 | BORALEX INC -A | CA | BLX CN | 2,260 | $32,146.89 |
| 21871N101 | CORECIVIC INC | US | CXW | 3,845 | $76,400.15 |
| 222795106 | COUSINS PROPERTIES INC | US | CUZ | 7,645 | $67,658.25 |
| 22282E102 | COVANTA HOLDING CORP | US | CVA | 6,335 | $101,993.50 |
| 22282EAH5 | COVANTA HOLDING CORP 6.00000 01/01/2027 | US | 45,000 | $43,087.50 | |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 1,040,000 | $1,061,430.46 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 1,180 | $138,130.80 |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 359,855.94 | $339,327.78 | |
| 229663109 | CUBESMART | US | CUBE | 420 | $12,999.00 |
| 23311RAD8 | DCP MIDSTREAM OPERATING 5.35000 03/15/2020 | US | 30,000 | $30,450.00 | |
| 23918K108 | DAVITA INC. | US | DVA | 5,690 | $319,379.70 |
| 23918KAR9 | DAVITA INC 5.00000 05/01/2025 | US | 70,000 | $67,375.00 | |
| 247361702 | DELTA AIR LINES INC. | US | DAL | 1,085 | $53,631.55 |
| 25271C102 | DIAMOND OFFSHORE DRILLING | US | DO | 7,220 | $78,914.60 |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 740 | $80,171.60 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 1,050,000 | $992,502.00 | |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 1,120 | $129,281.60 |
| 26078J100 | DOWDUPONT INC | US | DWDP | 1,811 | $97,449.91 |
| 26151AAA7 | DRAX FINCO PLC 6.62500 11/01/2025 | GB | 100,000 | $99,500.00 | |
| 26780TAA5 | DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 | MH | 100,000 | $97,250.00 | |
| 269246401 | ETRADE FINANCIAL CORP | US | ETFC | 2,780 | $129,714.80 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 6,040 | $142,179.84 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 7,260 | $147,415.66 |
| 285512109 | ELECTRONIC ARTS | US | EA | 3,000 | $276,720.00 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,116 | $73,064.52 |
| 29444U700 | EQUINIX INC | US | EQIX | 1,545 | $608,730.00 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 365 | $38,646.20 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 1,470 | $106,663.20 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 240 | $65,088.00 |
| 30161N101 | EXELON CORP | US | EXC | 1,195 | $57,073.20 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,536,456.10 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 350 | $34,513.50 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 4,250 | $311,440.00 |
| 302491303 | FMC CORP | US | FMC | 1,260 | $100,548.00 |
| 30251JAA9 | FDIC 2011-R1 A 2.67200 07/25/2026 | US | 41,766.43 | $41,588.68 | |
| 30262DAL5 | FREMF 2011-K13 B 4.61160 01/25/2048 | US | 410,000 | $420,673.65 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.85135 12/25/2024 | US | 180,000 | $178,962.59 | |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 55,000 | $54,656.25 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.83213 11/25/2047 | US | 700,000 | $707,564.27 | |
| 30291EAE4 | FREMF 2013-K712 B FLT 3.35787 05/25/2045 | US | 1,150,000 | $1,150,110.17 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,898,199.23 | $35,314.52 | |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 11,244.47 | $11,351.38 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 166,314.3 | $179,283.00 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 3,798.44 | $4,102.53 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 16,014.02 | $17,560.72 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 129,511.08 | $142,004.87 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 45,018.09 | $48,885.04 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 83,134.6 | $85,518.72 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 6,048.15 | $6,186.88 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 5,468.53 | $5,637.08 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 633,503.29 | $662,422.16 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 92,059.29 | $98,696.93 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 47,119.68 | $49,429.86 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 491,498.67 | $516,921.12 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 154,392.96 | $158,555.74 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 586,833.8 | $602,622.01 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 4,100.83 | $4,119.49 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 427,762.3 | $435,907.02 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 55,232.67 | $60,183.56 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 5,453.96 | $5,542.91 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 7,087.27 | $7,721.67 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 120 | $15,908.40 |
| 3137A2B34 | FHMS K009 X1 FLT 1.27311 08/25/2020 | US | 1,111,498.61 | $17,106.07 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.14907 04/25/2021 | US | 10,997,552.41 | $243,318.65 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.47787 10/25/2021 | US | 2,406,370.92 | $82,404.73 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.44244 06/25/2022 | US | 15,856,465.74 | $650,110.34 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.19598 04/25/2023 | US | 30,330,733.83 | $225,472.61 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.10305 05/25/2023 | US | 17,794,712.05 | $82,213.35 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 541,904.2 | $557,267.13 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 536,740.94 | $557,678.29 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 288,095.54 | $301,670.67 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 31,448.13 | $32,686.60 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 106,400.46 | $111,733.70 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 | US | 665,465.54 | $723,882.32 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 914,833.39 | $924,560.68 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 616,905.66 | $646,847.24 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 1,075,747.2 | $1,086,359.87 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 61,737.66 | $67,253.24 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 10,221.48 | $11,631.35 | |
| 31406PTV1 | FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 | US | 5,342.88 | $5,430.14 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 591,455.35 | $607,238.47 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 109,710.9 | $112,669.74 | |
| 3140FPGW3 | FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 | US | 599,599.36 | $615,577.96 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 161,818.26 | $168,230.03 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 484,700.71 | $510,385.18 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 396,137.96 | $417,130.85 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 510,271.77 | $530,503.01 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 217,176.48 | $228,685.80 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 326,902.84 | $344,227.07 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 4,181.75 | $4,282.37 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 5,041.62 | $5,163.54 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 36,791.26 | $37,384.47 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 44,805.29 | $45,536.24 | |
| 31410HAQ4 | MACYS RETAIL HLDGS INC 6.90000 04/01/2029 | US | 450,000 | $472,421.94 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 17,572.9 | $18,881.57 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 13,114.68 | $14,782.55 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 39,787.02 | $43,227.46 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,478.03 | $4,715.03 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 5,198.39 | $5,607.03 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 18,286.14 | $20,563.05 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,909.42 | $12,994.52 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,632.62 | $2,878.14 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 11,136.91 | $12,105.57 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 8,020.27 | $8,250.17 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 44,965.27 | $45,829.27 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 12,549.18 | $13,535.66 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 15,401.54 | $16,371.41 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 10,508.25 | $11,200.31 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 25,701.68 | $26,136.45 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 17,660.6 | $18,557.34 | |
| 31418B6G6 | FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 | US | 415,048.26 | $407,931.19 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 245,950.99 | $257,941.02 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 222,716.92 | $233,662.72 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 457,111.72 | $449,273.27 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 541,806.51 | $563,435.27 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 29,384.64 | $32,270.34 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 102,300.93 | $110,084.30 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 18,092.42 | $19,648.26 | |
| 31428X106 | FEDEX CORPORATION | US | FDX | 1,225 | $217,523.25 |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 35,000 | $33,687.50 | |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 935 | $25,076.70 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 790 | $25,848.80 |
| 335934AK1 | FIRST QUANTUM MINERALS L 7.25000 04/01/2023 | CA | 25,000 | $23,937.75 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 35,000 | $33,600.00 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.39010 07/25/2022 | US | 100,000 | $100,279.28 | |
| 35802XAD5 | FRESENIUS MED CARE II 5.62500 07/31/2019 | US | 1,196,000 | $1,207,702.74 | |
| 36143WAN1 | GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 | US | 1,100,000 | $1,093,645.85 | |
| 36143WAS0 | GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 | US | 440,000 | $435,205.72 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 115,000 | $113,328.35 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 19,256.38 | $19,386.31 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 31,006.48 | $33,100.09 | |
| 363576109 | ARTHUR J GALLAGHER & CO | US | AJG | 695 | $51,923.45 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 890,000 | $778,750.00 | |
| 37045VAR1 | GENERAL MOTORS CO FLT 3.66713 09/10/2021 | US | 950,000 | $930,050.00 | |
| 37185LAF9 | GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 | US | 35,000 | $32,200.00 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 990 | $31,739.40 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,812 | $126,858.12 |
| 37953TAB1 | GLOBAL SHIP LEASE INC 9.87500 11/15/2022 | MH | 99,000 | $96,153.75 | |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 500,000 | $504,641.71 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 459,871.1 | $439,820.86 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 11,465 | $138,382.55 |
| 39807UAB2 | GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 | US | 50,000 | $49,625.00 | |
| 40414L109 | HCP INC | US | HCP | 1,685 | $53,144.90 |
| 406216101 | HALLIBURTON CO | US | HAL | 10,495 | $329,123.20 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 2,625 | $84,761.25 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 3,570 | $101,459.40 |
| 42809H107 | HESS CORP | US | HES | 2,235 | $120,690.00 |
| 437076102 | HOME DEPOT INC | US | HD | 1,202 | $220,603.06 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 2,780 | $83,594.60 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 967 | $138,890.21 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 2,160 | $39,009.60 |
| 444454AB8 | HUGHES SATELITE SYSTEMS 6.50000 06/15/2019 | US | 75,000 | $75,778.50 | |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 80,000 | $76,600.00 | |
| 446150104 | HUNTINGTON BANCSHARES | US | HBAN | 1,735 | $22,971.40 |
| 45031UCD1 | ISTAR INC 5.25000 09/15/2022 | US | 75,000 | $73,837.50 | |
| 45337C102 | INCYTE CORP | US | INCY | 6,530 | $526,252.70 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 6,155 | $64,319.75 |
| 45763PAE6 | INMARSAT FINANCE PLC 4.87500 05/15/2022 | GB | 85,000 | $82,237.50 | |
| 458140100 | INTEL CORP | US | INTC | 10,207 | $480,953.84 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 3,445 | $264,438.20 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,079 | $145,039.18 |
| 459745GH2 | INTL LEASE FINANCE CORP 6.25000 05/15/2019 | US | 1,040,000 | $1,048,867.78 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 3.35750 12/17/2036 | US | 156,133.74 | $154,626.21 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 3.65750 12/17/2036 | US | 120,000 | $119,487.84 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 2,256 | $50,737.44 |
| 464287598 | ISHARES RUSSELL 1000 VALUE | US | 930 | $111,162.90 | |
| 466032109 | J&J SNACK FOODS CORP | US | JJSF | 640 | $98,784.00 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 4,847 | $501,664.50 |
| 46625HHL7 | JPMORGAN CHASE & CO 6.30000 04/23/2019 | US | 1,480,000 | $1,491,326.03 | |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 43,651.63 | $44,196.12 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 248,805.48 | $242,449.25 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 286,882.41 | $283,318.76 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 322,997.16 | $320,254.59 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 760,000 | $778,723.20 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 471,939.56 | $469,923.43 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 349,364.72 | $347,872.23 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 5,175 | $543,369.07 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 4,285 | $92,898.80 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 9,695 | $1,290,210.60 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 95,000 | $70,300.00 | |
| 485170302 | KANSAS CITY SOUTHERN | US | KSU | 1,180 | $124,785.00 |
| 493267108 | KEYCORP | US | KEY | 3,495 | $57,562.65 |
| 49446R109 | KIMCO REALTY CORP | US | KIM | 1,410 | $23,984.10 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 1,280,000 | $1,511,280.95 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 321,000 | $321,063.26 | |
| 500472303 | KONINKLIJKE PHILIPS NVR - NY ADR | NL | PHG | 1,607 | $63,364.01 |
| 500754106 | KRAFT HEINZ CO/THE | US | KHC | 1,540 | $74,012.40 |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 65,000 | $62,562.50 | |
| 50212YAB0 | LPL HOLDINGS INC 5.75000 09/15/2025 | US | 45,000 | $44,248.50 | |
| 502160AM6 | LSB INDUSTRIES 9.62500 05/01/2023 | US | 55,000 | $55,962.50 | |
| 529043101 | LEXINGTON REALTY TRUST | US | LXP | 6,825 | $65,588.25 |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 1,295 | $61,046.30 |
| 532457108 | ELI LILLY & CO | US | LLY | 2,034 | $243,795.24 |
| 534187109 | LINCOLN NATL CORP IND | US | LNC | 560 | $32,754.40 |
| 53815P108 | LIVERAMP HOLDINGS INC | US | RAMP | 8,860 | $384,878.40 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 368 | $106,605.92 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 35,000 | $33,600.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 2,825 | $417,563.25 |
| 55616XAC1 | MACYS RETAIL HLDGS INC 7.00000 02/15/2028 | US | 450,000 | $467,504.94 | |
| 55933JAB0 | MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 | US | 80,000 | $76,000.00 | |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 902 | $59,766.52 |
| 5671735 | SANOFI-AVENTIS | FR | SAN FP | 793 | $68,925.72 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 4,110 | $867,744.30 |
| 580135101 | MCDONALDS CORP | US | MCD | 942 | $168,410.76 |
| 58502BAC0 | MEDNAX INC 6.25000 01/15/2027 | US | 40,000 | $40,300.00 | |
| 58933Y105 | MERCK & CO INC | US | MRK | 9,157 | $681,555.51 |
| 59001ABA9 | MERITAGE HOMES CORP 5.12500 06/06/2027 | US | 35,000 | $31,401.30 | |
| 594918104 | MICROSOFT CORP | US | MSFT | 9,025 | $942,480.75 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 435 | $44,056.80 |
| 60871R209 | MOLSON COORS BREWING CO -B | US | TAP | 1,400 | $93,254.00 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 16,457 | $761,300.82 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 2,155 | $341,589.05 |
| 61744YAG3 | MORGAN STANLEY FLT 3.81125 05/08/2024 | US | 1,360,000 | $1,363,250.40 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 75,000 | $75,750.00 | |
| 624758108 | MUELLER WATER PRODUCTS INC - A | US | MWA | 5,295 | $52,314.60 |
| 62913TAM4 | NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 | US | 50,000 | $45,187.50 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 595 | $31,362.45 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 455 | $13,240.50 |
| 63938CAE8 | NAVIENT CORP 7.25000 09/25/2023 | US | 45,000 | $45,787.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 334,414.88 | $334,237.00 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 412,169.04 | $412,355.34 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 515,243.02 | $514,503.13 | |
| 651229106 | NEWELL BRANDS INC | US | NWL | 4,965 | $105,307.65 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 75,000 | $74,715.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 11,725 | $1,026,172.00 |
| 67020YAQ3 | NUANCE COMMUNICATIONS 5.62500 12/15/2026 | US | 60,000 | $58,800.00 | |
| 67103H107 | O'REILLY AUTOMOTIVE INC | US | ORLY | 225 | $77,548.50 |
| 680223104 | OLD REPUBLIC INTL CORP | US | ORI | 2,080 | $41,912.00 |
| 68323ADY7 | ONTARIO (PROVINCE OF) 1.25000 06/17/2019 | CA | 450,000 | $447,597.31 | |
| 69145LAA2 | OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 | US | 70,000 | $70,875.00 | |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 320 | $39,254.40 |
| 70014LAC4 | PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 | KY | 80,000 | $78,500.00 | |
| 70338P100 | PATTERN ENERGY GROUP INC -A | US | PEGI | 2,215 | $47,135.20 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 6,445 | $561,900.17 |
| 713448108 | PEPSICO INC | US | PEP | 7,062 | $795,675.54 |
| 71642QAB3 | PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 | GB | 40,000 | $37,600.00 | |
| 717081103 | PFIZER INC | US | PFE | 6,038 | $256,313.10 |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 6,275 | $113,640.25 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 1,945 | $31,197.80 | |
| 741503AZ9 | PRICELINE GROUP INC/THE 3.60000 06/01/2026 | US | 1,570,000 | $1,543,568.37 | |
| 74251V102 | PRINCIPAL FINANCIAL GROUP | US | PFG | 620 | $31,043.40 |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 300,000 | $292,197.72 | |
| 74340W103 | PROLOGIS | US | PLD | 2,050 | $141,778.00 |
| 744320AL6 | PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 | US | 960,000 | $998,400.00 | |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 390 | $82,882.80 |
| 74736K101 | QORVO INC | US | QRVO | 8,755 | $572,226.80 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 1,280 | $73,164.80 |
| 756109104 | REALTY INCOME CORP | US | O | 250 | $17,172.50 |
| 75886F107 | REGENERON PHARMACEUTICALS INC | US | REGN | 625 | $268,293.75 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 2,235 | $33,904.95 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 1,876 | $105,562.52 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 40,000 | $40,700.00 | |
| 77714PAB5 | SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 | US | 35,000 | $33,250.00 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 1,125 | $70,650.00 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 1,815 | $347,844.75 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 1,490 | $271,969.70 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 75,000 | $72,750.00 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 875,000 | $860,072.59 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 1,410,000 | $1,527,827.38 | |
| 80105N105 | SANOFI-AVENTIS-ADR | FR | SNY | 3,275 | $142,298.75 |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 960,000 | $977,507.16 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,745 | $253,986.45 |
| 808513105 | CHARLES SCHWAB CORP/THE | US | SCHW | 5,910 | $276,410.70 |
| 81211K100 | SEALED AIR CORP | US | SEE | 10,900 | $430,550.00 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 4,590 | $350,813.70 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 296,940.65 | $287,651.46 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 406,021.99 | $394,856.39 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 312,645.97 | $281,828.61 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,420 | $312,428.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 45,000 | $40,837.50 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 940 | $171,192.80 |
| 83401LAB0 | SOFI 2015-A A2 2.42000 03/25/2030 | US | 340,312.23 | $336,600.48 | |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 396,577.32 | $389,188.37 | |
| 83404FAB0 | SOFI 2017-A A2A 1.55000 03/26/2040 | US | 13,864.38 | $13,767.44 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 128,275.89 | $125,473.34 | |
| 83405DAB4 | SOFI 2017-C A2A 1.75000 07/25/2040 | US | 22,715.95 | $22,554.60 | |
| 83405LAA8 | SCLP 2017-5 A1 2.14000 09/25/2026 | US | 169,669.13 | $168,998.65 | |
| 835495102 | SONOCO PRODUCTS CO | US | SON | 1,975 | $113,720.50 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 940,000 | $965,944.03 | |
| 844741108 | SOUTHWEST AIRLS CO | US | LUV | 970 | $55,057.20 |
| 845467AL3 | SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 | US | 95,000 | $92,150.00 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 2,780 | $76,644.60 |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.72894 11/15/2027 | US | 905,197.38 | $896,724.82 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 510 | $16,483.20 |
| 866674104 | SUN COMMUNITIES | US | SUI | 565 | $62,099.15 |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 2,020 | $28,886.00 |
| 867914103 | SUNTRUST BANKS INC | US | STI | 585 | $34,760.70 |
| 874039100 | TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 5,606 | $210,897.72 |
| 87612E106 | TARGET CORP | US | TGT | 2,145 | $156,585.00 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 184,995.08 | $183,415.50 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 60,000 | $56,025.00 | |
| 88104LAE3 | TERRAFORM POWER OPERATIN 5.00000 01/31/2028 | US | 30,000 | $27,862.50 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,391 | $140,045.88 |
| 88579Y101 | 3M CO | US | MMM | 1,023 | $204,906.90 |
| 88650V208 | TIER REIT INC | US | TIER | 2,425 | $56,987.50 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 840,445.94 | $815,226.51 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 804,209.27 | $782,645.60 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 498,745.68 | $482,868.91 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 75,000 | $74,176.50 | |
| 902653104 | UDR INC | US | UDR | 1,565 | $68,468.75 |
| 902973304 | U.S. BANCORP | US | USB | 2,216 | $113,370.56 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 1,170 | $16,415.10 |
| 90320MAA3 | UPCB FINANCE IV LTD 5.37500 01/15/2025 | KY | 40,000 | $38,500.00 | |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 12,364 | $650,346.40 |
| 907818108 | UNION PAC CORP | US | UNP | 994 | $158,115.58 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,140 | $120,156.00 |
| 912796QY8 | TREASURY BILL 0.00000 02/21/2019 | US | 750,000 | $749,023.96 | |
| 912810PT9 | UNITED STATES TREAS BOND 4.75000 02/15/2037 | US | 1,701,000 | $2,178,077.34 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 772,979.13 | $721,718.94 | |
| 912810RK6 | US TREASURY N/B 2.50000 02/15/2045 | US | 1,605,000 | $1,459,233.40 | |
| 912828D23 | US TREASURY N/B 1.62500 04/30/2019 | US | 4,350,000 | $4,341,333.97 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 7,237,458.38 | $7,141,430.11 | |
| 912828R28 | US TREASURY N/B 1.62500 04/30/2023 | US | 3,005,000 | $2,905,928.91 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,230,000 | $3,033,676.56 | |
| 912828UH1 | UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 | US | 773,509.04 | $755,890.42 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 2,905,000 | $2,839,637.50 | |
| 912828XQ8 | US TREASURY N/B 2.00000 07/31/2022 | US | 5,875,000 | $5,789,628.91 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 1,026 | $121,139.82 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 2,105 | $42,984.10 |
| 91913Y100 | VALERO ENERGY | US | VLO | 798 | $70,080.36 |
| 92276F100 | VENTAS INC | US | VTR | 545 | $35,147.05 |
| 92339V100 | VEREIT INC | US | VER | 5,610 | $45,328.80 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 2,305 | $126,913.30 |
| 92343VDV3 | VERIZON COMMUNICATIONS 5.50000 03/16/2047 | US | 1,430,000 | $1,600,125.78 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 1,100 | $210,001.00 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 5,740 | $774,957.40 |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 50,000 | $50,804.90 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 720 | $50,335.20 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 45,000 | $43,762.50 | |
| 92960PAA7 | W/S PACKAGING HOLDINGS 9.00000 04/15/2023 | US | 45,000 | $45,225.00 | |
| 931142103 | WAL MART STORES | US | WMT | 2,904 | $278,290.32 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 1,130 | $81,653.80 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,690 | $161,682.30 |
| 948565AC0 | WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 | US | 45,000 | $41,850.00 | |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 75,000 | $69,000.00 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 1,350 | $38,731.50 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,616 | $372,498.56 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 650 | $50,368.50 |
| 962178AL3 | TRI POINTE HOLDINGS INC 4.37500 06/15/2019 | US | 150,000 | $150,000.00 | |
| 962178AN9 | TRI POINTE GROUP / HOMES 5.87500 06/15/2024 | US | 45,000 | $43,368.75 | |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 750,000 | $729,681.36 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 350,773.35 | $349,791.15 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 438,586.7 | $433,435.02 | |
| 98919V105 | ZAYO GROUP HOLDINGS INC | US | ZAYO | 5,385 | $147,818.25 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 90,000 | $85,275.00 | |
| B29TNV3 | INNERGEX RENEWABLE ENERGY | CA | INE CN | 3,755 | $41,095.09 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $20,149.30 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $109,860.50 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $54,627.10 | |
| B4YN9R2 | SINGAPORE GOVERNMENT 2.50000 06/01/2019 | SG | 240,000 | $178,526.52 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 1,800,000 | $93,779.13 | |
| B68XHC3 | NORTHLAND POWER INC | CA | NPI CN | 2,255 | $40,965.68 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $17,113.21 | |
| BBG00MJRX139 | QRVO US 02/15/19 C67.5 | US | -22 | -$3,960.00 | |
| BBG00MMG82L5 | GOOG US 02/15/19 C1110 | US | -1 | -$3,700.00 | |
| BBG00MSXTDS8 | NOW US 02/01/19 C202.5 | US | -7 | -$12,215.00 | |
| BBG00MY7SR35 | MSFT US 02/08/19 C111 | US | -13 | -$130.00 | |
| BBG00N27NTT1 | BKNG US 03/01/19 C1970 | US | -1 | -$1,980.00 | |
| BD82246 | EAGLE BULK SHIPCO 8.25000 11/28/2022 | MH | 196,000 | $194,040.00 | |
| BF955D8 | TELENET FINANCE LUX NOTE 5.50000 03/01/2028 | LU | 100,000 | $94,500.00 | |
| BFYM460 | UNIBAIL-RODAMCO-WESTFIELD | FR | URW NA | 190 | $34,171.76 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 17,145 | $25,786.09 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 12,630 | $562,219.62 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 11,460 | $320,572.29 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 7,860 | $600,528.70 |
| G3157S106 | ENSCO INTERNATIONAL INC | US | ESV | 21,405 | $94,182.00 |
| G37585AC3 | GASLOG LTD 8.87500 03/22/2022 | BM | 80,000 | $81,200.00 | |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 2,700 | $91,179.00 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 13,373 | $1,182,039.47 |
| G96629103 | WILLIS TOWERS WATSON PLC | GB | WLTW | 280 | $45,581.20 |
| H1467J104 | CHUBB LTD | CH | CB | 440 | $58,542.00 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 13,735 | $117,708.95 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 8,025 | $481,821.00 |
| N53745100 | LYONDELLBASELL INDU-CL A | US | LYB | 699 | $60,792.03 |
| USD | US DOLLAR | US | 1,978,334.7 | $1,978,334.70 |
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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