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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
$31.36
Daily $ Change
-$0.03
Daily % Change
-0.10%
as of 09/24/2020
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 08/31/2020
YTD
6.41%
1 Year
8.95%
3 Year
6.17%
5 Year
5.76%
10 Year
5.30%
Inception
(01/01/2000)
5.77%
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 08/31/2020
| GOVERNMENT AGENCY | 8.51% |
| TREASURY NOTES | 5.94% |
| TSY INFL IX N/B 2.00000 01/15/2026 | 3.00% |
| TSY INFL IX N/B 0.12500 04/15/2025 | 2.03% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.45% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.25% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.22% |
| ALIBABA GROUP HOLDING 3.40000 12/06/2027 | 1.18% |
| AMERICAN TOWER CORP 3.80000 08/15/2029 | 1.12% |
| TREASURY BONDS | 1.02% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 08/31/2020
| Bonds | 64.24% |
| Stocks | 31.39% |
| Cash | 4.37% |
Detailed Asset Class Allocation
As of 08/31/2020
| International Equities | 6.61% |
| Small Capitalization | 1.18% |
| Mid Capitalization | 3.59% |
| Large Capitalization | 20.01% |
| Long Term Fixed Income | 22.59% |
| Intermediate Term Fixed Income | 33.61% |
| Short Term Fixed Income | 8.04% |
| Cash | 4.37% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
August Fund Holdings
As of 08/31/2020
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 310,000 | $363,411.59 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 2,945 | $282,042.65 |
| 00507V109 | ACTIVISION INC | US | ATVI | 5,380 | $449,337.60 |
| 00653VAA9 | ADAPTHEALTH LLC 6.12500 08/01/2028 | US | 50,000 | $52,375.00 | |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 970,000 | $972,180.44 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 35,000 | $35,700.00 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 610 | $40,821.20 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 400,000 | $400,837.76 | |
| 00914AAB8 | AIR LEASE CORP 3.75000 06/01/2026 | US | 300,000 | $306,762.94 | |
| 01166WAA5 | ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 50,000 | $51,908.43 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 145 | $24,415.10 |
| 01609W102 | ALIBABA GROUP - ADR | CN | BABA | 1,410 | $404,712.30 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 1,120,000 | $1,268,549.28 | |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 250 | $407,382.50 |
| 023135106 | AMAZON.COM INC | US | AMZN | 180 | $621,172.80 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 3,950 | $131,974.55 |
| 02406PBA7 | AMERICAN AXLE & MFG INC 6.87500 07/01/2028 | US | 25,000 | $26,036.50 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 1,212 | $41,086.80 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 2,530 | $72,459.20 |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 970 | $241,675.50 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 1,040,000 | $1,203,034.64 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 1,585 | $60,784.75 |
| 03217CAA4 | AMS AG 7.00000 07/31/2025 | AT | 200,000 | $208,000.00 | |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 50,000 | $44,625.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 25,000 | $22,312.50 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 989 | $35,633.67 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 3,510 | $35,696.70 |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 753 | $104,734.77 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 325 | $51,369.50 |
| 05401AAJ0 | AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 | KY | 420,000 | $361,107.14 | |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 12,655 | $325,739.70 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 490,000 | $549,127.53 | |
| 071734AH0 | BAUSCH HEALTH COS INC 5.00000 01/30/2028 | CA | 30,000 | $29,625.00 | |
| 084423102 | WR BERKLEY CORP | US | WRB | 4,315 | $267,745.75 |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,920 | $418,636.80 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 1,655 | $129,139.65 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 120 | $229,254.00 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 2,320 | $25,821.60 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 4,529 | $281,703.80 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 130,000 | $254.80 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,210 | $111,065.90 |
| 12530MAA3 | SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 375,000 | $380,505.94 | |
| 12530MAB1 | SORT 2020-1 A2 1.99000 07/15/2060 | US | 304,745.83 | $310,213.73 | |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 109,841.92 | $113,788.63 | |
| 12572Q105 | CME GROUP INC | US | CME | 640 | $112,556.80 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 317,304.54 | $323,827.34 | |
| 12654TAA8 | CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 | US | 35,000 | $35,051.80 | |
| 127097103 | CABOT OIL & GAS CORP | US | COG | 36,110 | $685,006.70 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 30,000 | $28,500.00 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 620 | $56,382.80 |
| 133131AZ5 | CAMDEN PROPERTY TRUST 2.80000 05/15/2030 | US | 750,000 | $822,757.35 | |
| 13321L108 | CAMECO CORP | CA | CCJ | 19,605 | $226,829.85 |
| 136375102 | CANADIAN NATIONAL RAILWAY CO | CA | CNI | 1,314 | $137,418.12 |
| 149123101 | CATERPILLAR INC | US | CAT | 1,322 | $188,133.82 |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 139,852.07 | $138,671.19 | |
| 15135UAS8 | CENOVUS ENERGY INC 5.37500 07/15/2025 | CA | 5,000 | $5,089.34 | |
| 16119P108 | CHARTER COMMUNICATIONS INC-A | US | CHTR | 740 | $455,551.40 |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 129,081.98 | $129,525.00 | |
| 166764100 | CHEVRON CORP | US | CVX | 875 | $73,438.75 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 7,367 | $311,034.74 |
| 172967424 | CITIGROUP INC | US | C | 3,798 | $194,153.76 |
| 172967KA8 | CITIGROUP INCA 4.45000 09/29/2027 | US | 860,000 | $999,779.88 | |
| 191216100 | COCA COLA CO/THE | US | KO | 11,620 | $575,538.60 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,452 | $194,345.52 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 5,724 | $256,492.44 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 780,000 | $865,783.46 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 394,969.51 | $407,115.10 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 790 | $36,893.00 |
| 20449X401 | COMPASS GROUP PLC ADR | GB | CMPGY | 13,890 | $222,934.50 |
| 20605P101 | CONCHO RESOURCES INC | US | CXO | 5,370 | $279,132.60 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 3,760 | $142,466.40 |
| 217204106 | COPART INC | US | CPRT | 2,010 | $207,673.20 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 2,004 | $59,819.40 |
| 22534GAA1 | CAALT 2020-1A 2.01000 02/15/2029 | US | 440,000 | $450,662.92 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 460 | $75,095.00 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 820,000 | $901,290.16 | |
| 22822VAR2 | CROWN CASTLE INTL CORP 3.30000 07/01/2030 | US | 260,000 | $289,648.87 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 212,416.88 | $217,756.87 | |
| 229663109 | CUBESMART | US | CUBE | 800 | $25,296.00 |
| 25243Q205 | DIAGEO PLC-SPONSORED ADR | GB | DEO | 959 | $128,889.60 |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 733 | $114,091.45 |
| 254687FW1 | WALT DISNEY COMPANY/THE 2.20000 01/13/2028 | US | 320,000 | $338,616.84 | |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 910,000 | $1,091,458.76 | |
| 256746108 | DOLLAR TREE STORES INC | US | DLTR | 2,210 | $212,756.70 |
| 25746UDG1 | DOMINION ENERGY 3.37500 04/01/2030 | US | 500,000 | $569,161.36 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 40,000 | $41,600.00 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 1,100 | $30,712.00 |
| 26439XAC7 | DCP MIDSTREAM OPERATING 8.12500 08/16/2030 | US | 30,000 | $35,625.00 | |
| 264411505 | DUKE RLTY INVTS INC | US | DRE | 1,370 | $52,813.50 |
| 26875P101 | EOG RESOURCES INC | US | EOG | 3,900 | $176,826.00 |
| 26884L109 | EQT CORP | US | EQT | 14,465 | $229,559.55 |
| 26884LAG4 | EQT CORP 8.75000 02/01/2030 | US | 25,000 | $29,937.50 | |
| 277276101 | EASTGROUP PROPERTIES | US | EGP | 117 | $15,579.72 |
| 285512109 | ELECTRONIC ARTS | US | EA | 2,360 | $329,149.20 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,952 | $135,605.44 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 860,000 | $926,812.91 | |
| 29444U700 | EQUINIX INC | US | EQIX | 832 | $657,096.96 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 860 | $57,009.40 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 565 | $31,894.25 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 66 | $14,289.66 |
| 30212P303 | EXPEDIA INC | US | EXPE | 7,620 | $747,903.00 |
| 30212PAS4 | EXPEDIA GROUP INC 6.25000 05/01/2025 | US | 365,000 | $401,071.40 | |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,560,011.25 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 150 | $15,982.50 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 3,370 | $134,597.80 |
| 302491303 | FMC CORP | US | FMC | 1,950 | $208,377.00 |
| 30262DAL5 | FREMF 2011-K13 B 4.76356 01/25/2048 | US | 410,000 | $413,743.34 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.98209 12/25/2024 | US | 180,000 | $194,551.13 | |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 20,000 | $18,000.00 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96344 11/25/2047 | US | 700,000 | $767,691.05 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,470,942.89 | $19,702.13 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 1,390 | $407,548.00 |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 937.45 | $940.89 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 124,552.76 | $144,330.78 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 2,839.49 | $3,297.50 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 9,470.08 | $11,159.16 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 101,005.46 | $118,856.72 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 32,603.23 | $38,286.41 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 31,837.81 | $33,088.90 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 1,783.06 | $1,818.40 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 1,828.95 | $1,889.84 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 379,759.98 | $411,951.23 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 68,950.08 | $79,802.08 | |
| 3128MJY87 | FHLM POOL FG G08734 4.00000 11/01/2046 | US | 34,556.02 | $37,398.93 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 33,278.71 | $36,648.33 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 343,517.28 | $384,092.81 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 110,108.39 | $120,123.55 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 325,987.84 | $348,477.12 | |
| 3133A6DB4 | FEDERAL NATL MTG ASSN FR QB0098 2.50000 06/01/2050 | US | 1,008,932.4 | $1,061,576.33 | |
| 3136AY6W8 | FNA 2017-M15 A1 FLT 3.05797 09/25/2027 | US | 460,306.33 | $500,280.39 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 214,955.54 | $223,303.38 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 42,341.96 | $49,646.98 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 1,226.15 | $1,292.42 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 4,881.32 | $5,640.58 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.32366 04/25/2021 | US | 10,621,242.29 | $43,655.43 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.63779 10/25/2021 | US | 2,236,082.04 | $28,505.80 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.54441 06/25/2022 | US | 15,212,715.45 | $296,196.13 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.28647 04/25/2023 | US | 28,965,220.39 | $119,258.50 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.20559 05/25/2023 | US | 17,021,188.19 | $48,052.52 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 225,277.39 | $229,977.98 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 133,339.35 | $135,147.79 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 117,194.17 | $126,511.08 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 30,157.19 | $32,560.96 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 72,603.44 | $80,954.48 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 | US | 506,156.57 | $597,986.77 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 463,354.94 | $510,905.26 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 45,346.97 | $53,051.76 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 7,717.49 | $9,001.17 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 405,727.59 | $437,264.94 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 86,817.81 | $94,292.53 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 887.44 | $900.17 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 1,153.92 | $1,173.31 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 5,129.16 | $5,169.67 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 5,658.89 | $5,710.92 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 13,318.61 | $15,413.67 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 5,551.57 | $6,187.28 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 29,957.84 | $34,680.95 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,265.64 | $4,672.74 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 1,730.42 | $1,928.28 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 16,066.15 | $18,078.40 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,365.1 | $13,237.25 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,446.59 | $2,862.07 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 6,325.67 | $7,153.74 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 3,610.8 | $3,794.96 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 23,111.46 | $24,232.69 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 4,520.27 | $5,031.98 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 7,894.94 | $8,800.19 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 4,929.81 | $5,405.71 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 3,108.25 | $3,134.37 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 12,026.76 | $13,399.16 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 155,459.8 | $171,259.09 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 166,599.11 | $183,533.67 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 326,495.92 | $353,926.95 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 195,442.29 | $206,357.77 | |
| 31418DNN8 | FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 | US | 298,383.6 | $309,112.07 | |
| 31418DQ21 | FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 | US | 520,662.71 | $548,122.24 | |
| 31418DQG0 | FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 | US | 1,333,690.39 | $1,404,027.10 | |
| 31418DQZ8 | FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 | US | 773,108.82 | $798,210.98 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 21,670.54 | $25,605.50 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 71,891.54 | $83,317.47 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 13,272.51 | $15,399.76 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 55,000 | $60,637.50 | |
| 316067107 | FIDELITY CASH RESERVES | US | 8,543.9 | $8,543.90 | |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 1,080 | $46,062.00 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 40,000 | $40,200.00 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 470,000 | $481,426.64 | |
| 345370CX6 | FORD MOTOR COMPANY 9.62500 04/22/2030 | US | 50,000 | $65,538.75 | |
| 345397XU2 | FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 | US | 20,000 | $20,346.40 | |
| 346232AE1 | FORESTAR GROUP INC 5.00000 03/01/2028 | US | 30,000 | $30,311.40 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 25,000 | $24,250.00 | |
| 34960PAC5 | FORTRESS TRANS & INFRAST 9.75000 08/01/2027 | US | 30,000 | $31,988.10 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 25,000 | $27,289.25 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.50986 07/25/2022 | US | 100,000 | $103,215.12 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 25,000 | $24,125.00 | |
| 36237HAA9 | G-III APPAREL GROUP LTD 7.87500 08/15/2025 | US | 35,000 | $34,781.25 | |
| 36257MAA3 | GSMS 2019-70P A 1.16188 10/15/2036 | US | 340,000 | $327,225.76 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 29,460.4 | $32,749.18 | |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 705 | $105,291.75 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 780,000 | $611,941.20 | |
| 370334104 | GENERAL MLS INC | US | GIS | 2,195 | $140,370.25 |
| 37255LAA5 | GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 | US | 35,000 | $36,885.80 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 1,065 | $31,193.85 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 3,220 | $214,935.00 |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 394,831.18 | $413,971.88 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 27,560 | $385,288.80 |
| 4031976 | ADIDAS AG | DE | ADS GR | 680 | $206,921.49 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 590,000 | $679,780.30 | |
| 418751AD5 | HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 | US | 25,000 | $25,125.00 | |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 580 | $16,733.00 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,015 | $26,785.85 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 2,405 | $66,474.20 |
| 427866108 | HERSHEY CO/THE | US | HSY | 653 | $97,061.92 |
| 431571AB4 | HILLENBRAND INC 4.50000 09/15/2026 | US | 40,000 | $42,900.00 | |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 3,140 | $283,730.40 |
| 437076102 | HOME DEPOT INC | US | HD | 1,652 | $470,886.08 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 5,023 | $128,488.34 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 1,500 | $248,325.00 |
| 443201AA6 | HOWMET AEROSPACE INC 6.87500 05/01/2025 | US | 40,000 | $45,466.95 | |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 25,000 | $27,312.50 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 45,000 | $47,250.00 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 853 | $168,510.15 |
| 45337C102 | INCYTE CORP | US | INCY | 1,390 | $133,926.50 |
| 45569LAA9 | INDIGO NATURAL RES LLC 6.87500 02/15/2026 | US | 30,000 | $30,675.00 | |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 45,000 | $42,750.00 | |
| 45778Q107 | INSPERITY INC | US | NSP | 3,250 | $218,952.50 |
| 458140100 | INTEL CORP | US | INTC | 6,010 | $306,209.50 |
| 45857P806 | INTERCONTINENTAL HOTELS-ADR | GB | IHG | 1,780 | $103,168.80 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 4,160 | $441,916.80 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,864 | $229,849.84 |
| 46116VAE5 | INTL FC STORE INC 8.62500 06/15/2025 | US | 50,000 | $54,125.00 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 1.01188 12/17/2036 | US | 145,004.35 | $143,931.87 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 1.31188 12/17/2036 | US | 120,000 | $119,795.86 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 3,206 | $91,787.78 |
| 46284VAN1 | IRON MOUNTAIN INC 4.50000 02/15/2031 | US | 25,000 | $25,659.25 | |
| 465410BX5 | ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 200,000 | $206,843.13 | |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 3,454 | $346,056.26 |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 21,184.17 | $21,161.00 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 166,445.88 | $169,397.63 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 180,812.16 | $189,029.69 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 225,540.46 | $228,132.62 | |
| 46647PBP0 | JPMORGAN CHASE & CO 2.95600 05/13/2031 | US | 870,000 | $935,748.95 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 133,268.25 | $133,778.36 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 129,561.74 | $130,378.46 | |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 6,646 | $1,019,562.86 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 25,000 | $3,500.00 | |
| 48088LAB3 | JOSEPH T RYERSON & SON 8.50000 08/01/2028 | US | 25,000 | $27,312.50 | |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 45,000 | $48,937.50 | |
| 49427F108 | KILROY REALTY CORP | US | KRC | 862 | $50,444.24 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 893 | $140,879.68 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 630,000 | $838,069.07 | |
| 505742AG1 | LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 | US | 35,000 | $33,250.00 | |
| 512816109 | LAMAR ADVERTISING CO-A | US | LAMR | 360 | $24,922.80 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 405 | $42,699.15 |
| 532457108 | ELI LILLY & CO | US | LLY | 1,267 | $188,010.13 |
| 539473AE8 | LLOYDS BANK PLC 12.00000 12/16/2024 | GB | 100,000 | $116,854.80 | |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 645 | $251,717.70 |
| 541056AA5 | LOGAN MERGER SUB INC 5.50000 09/01/2027 | US | 20,000 | $20,393.80 | |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 45,000 | $7,200.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 540 | $202,861.80 |
| 552697AQ7 | MDC PARTNERS INC 6.50000 05/01/2024 | CA | 30,000 | $28,650.00 | |
| 552848AG8 | MGIC INVESTMENT CORP 5.25000 08/15/2028 | US | 35,000 | $36,750.00 | |
| 573284106 | MARTIN MARIETTA MATERIALS | US | MLM | 490 | $99,406.30 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 2,780 | $995,768.20 |
| 577128AA9 | MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 | US | 5,000 | $4,725.00 | |
| 58933Y105 | MERCK & CO INC | US | MRK | 4,263 | $363,506.01 |
| 594918104 | MICROSOFT CORP | US | MSFT | 2,040 | $460,081.20 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 10,490 | $477,399.90 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 545 | $63,830.40 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 10,815 | $631,812.30 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 600 | $176,784.00 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 35,000 | $23,975.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 10,000 | $7,300.00 | |
| 62913TAJ1 | NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 | US | 20,000 | $14,600.00 | |
| 63938CAH1 | NAVIENT CORP 6.75000 06/25/2025 | US | 35,000 | $36,487.50 | |
| 63938NAF1 | NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 | MH | 15,000 | $16,237.50 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 137,626.89 | $138,360.36 | |
| 63941RAB6 | NAVSL 2019-2A A2 1.17513 02/27/2068 | US | 1,000,000 | $1,007,434.20 | |
| 63941XAA5 | NAVSL 2020-FA A 1.22000 07/15/2069 | US | 670,000 | $670,973.64 | |
| 63942FAB1 | NAVSL 2020-1A A1B 1.19925 06/25/2069 | US | 700,000 | $706,163.85 | |
| 64033QAB5 | NSLT 2015-2A A2 0.77513 09/25/2047 | US | 712,409.89 | $688,529.91 | |
| 644393AA8 | NEW FORTRESS ENERGY INC 6.75000 09/15/2025 | US | 45,000 | $45,661.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 230,253.78 | $246,500.42 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 284,739.24 | $307,407.67 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 376,822.36 | $404,139.80 | |
| 654106AM5 | NIKE INC 3.37500 03/27/2050 | US | 310,000 | $356,815.37 | |
| 6642321 | NIKON CORP | JP | 7731 JP | 18,400 | $144,103.17 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 135,000 | $2,160.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 7,030 | $605,001.80 |
| 67401PAB4 | OAKTREE SPECIALTY LEND 3.50000 02/25/2025 | US | 20,000 | $20,133.35 | |
| 674599EA9 | OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 | US | 25,000 | $28,250.00 | |
| 675232AB8 | OCEANEERING INTL INC 6.00000 02/01/2028 | US | 45,000 | $28,395.00 | |
| 682189AQ8 | ON SEMICONDUCTOR CORP 3.87500 09/01/2028 | US | 20,000 | $20,869.60 | |
| 68389X105 | ORACLE CORP | US | ORCL | 3,898 | $223,043.56 |
| 68555PAA8 | ORBCOMM INC 8.00000 04/01/2024 | US | 35,000 | $34,037.50 | |
| 69145LAA2 | OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 | US | 5,000 | $4,764.35 | |
| 69327RAJ0 | PDC ENERGY INC 5.75000 05/15/2026 | US | 30,000 | $30,690.00 | |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 808 | $89,849.60 |
| 69354NAC0 | PRA GROUP INC 7.37500 09/01/2025 | US | 30,000 | $31,977.00 | |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 1,350 | $275,589.00 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 3,410 | $410,724.74 |
| 713448108 | PEPSICO INC | US | PEP | 1,570 | $219,894.20 |
| 717081103 | PFIZER INC | US | PFE | 9,574 | $361,801.46 |
| 717081EW9 | PFIZER INC 2.62500 04/01/2030 | US | 220,000 | $245,625.92 | |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 35,000 | $32,167.10 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 1,065 | $19,329.75 |
| 723787107 | PIONEER NATURAL RESOURCES CO | US | PXD | 3,065 | $318,545.45 |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 1,170,000 | $1,313,478.21 | |
| 74166MAE6 | PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 | US | 20,000 | $21,000.00 | |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 299,442.64 | $300,631.46 | |
| 74340W103 | PROLOGIS | US | PLD | 2,197 | $223,786.42 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 315 | $66,906.00 |
| 747525103 | QUALCOMM INC | US | QCOM | 1,836 | $218,667.60 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 65,000 | $65,195.00 | |
| 75513E101 | RAYTHEON TECHNOLOGIES CORP | US | RTX | 3,130 | $190,930.00 |
| 756109104 | REALTY INCOME CORP | US | O | 305 | $18,919.15 |
| 758849103 | REGENCY CENTERS CORP | US | REG | 260 | $10,324.60 |
| 76169C100 | REXFORD INDUSTRIAL REALITY IN | US | REXR | 1,045 | $50,139.10 |
| 778296AE3 | ROSS STORES INC 5.45000 04/15/2050 | US | 280,000 | $360,026.73 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 1,610 | $45,241.00 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 3,650 | $295,285.00 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 420 | $153,896.40 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 960 | $293,827.20 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 50,000 | $51,500.00 | |
| 78443BAG1 | SLMA 2006-10 A6 FLT 0.39450 03/25/2044 | US | 129,667.02 | $120,888.86 | |
| 78449XAA0 | SMB 2020-BA A1A 1.29000 07/15/2053 | US | 700,000 | $699,165.04 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 581,670.7 | $595,958.45 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 910,000 | $1,094,477.65 | |
| 79466L302 | SALESFORCE.COM | US | CRM | 1,650 | $449,872.50 |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,090 | $96,760.90 |
| 81745BAB1 | SEMT 2013-6 A2 3.00000 05/25/2043 | US | 313,393.74 | $327,876.79 | |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 207,352.04 | $213,275.86 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 270,664.69 | $278,441.02 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 207,237.14 | $208,756.35 | |
| 81762P102 | SERVICENOW INC | US | NOW | 430 | $207,268.60 |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 153,941.87 | $155,376.98 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 57,908.93 | $58,752.44 | |
| 83404RAB4 | SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 250,000 | $258,133.43 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 156,699.62 | $158,509.42 | |
| 844741BJ6 | SOUTHWEST AIRLINES CO 5.25000 05/04/2025 | US | 700,000 | $764,000.69 | |
| 85172FAN9 | SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 | US | 25,000 | $28,687.38 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 805 | $26,001.50 |
| 85571BAL9 | STARWOOD PROPERTY TRUST 4.75000 03/15/2025 | US | 40,000 | $38,500.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 1.63188 11/15/2027 | US | 886,341.61 | $620,633.86 | |
| 861036AA9 | STL HOLDING CO LLC 7.50000 02/15/2026 | US | 30,000 | $30,375.00 | |
| 86212XAA8 | STR 2019-1 A1 MTGE 2.82000 11/20/2049 | US | 295,368.86 | $298,285.04 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 630 | $93,920.40 |
| 87105L104 | SWITCH INC - A | US | SWCH | 2,465 | $42,398.00 |
| 871829107 | SYSCO CORP | US | SYY | 3,615 | $217,406.10 |
| 872540AU3 | TJX COS INC 4.50000 04/15/2050 | US | 410,000 | $521,603.23 | |
| 87422VAJ7 | TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 | US | 35,000 | $36,168.65 | |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 92,339.15 | $92,526.13 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 15,000 | $3,337.50 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 780,000 | $900,112.47 | |
| 88146M101 | TERRENO REALTY CORP | US | TRNO | 575 | $34,293.00 |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,987 | $282,452.05 |
| 883556102 | THERMO FISHER SCIENTIFIC INC | US | TMO | 510 | $218,779.80 |
| 88579Y101 | 3M CO | US | MMM | 1,289 | $210,132.78 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 8,671 | $343,111.47 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 537,414.16 | $548,759.73 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 244,022.27 | $250,897.74 | |
| 89177EAA7 | TPMT 2019-HY1 A1 1.17513 10/25/2048 | US | 222,071.83 | $221,609.61 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 35,000 | $32,287.50 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 768,312.7 | $770,335.13 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 496,425.84 | $514,396.46 | |
| 89613GAA4 | TAH 2020-SFR1 A 1.49900 07/17/2038 | US | 610,000 | $609,875.62 | |
| 89832Q109 | TRUIST FINANCIAL CORP | US | TFC | 3,540 | $137,387.40 |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 65,000 | $62,562.50 | |
| 902653104 | UDR INC | US | UDR | 523 | $18,205.63 |
| 902973304 | U.S. BANCORP | US | USB | 3,694 | $134,461.60 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 16,106 | $959,595.48 |
| 907818108 | UNION PAC CORP | US | UNP | 1,429 | $274,996.76 |
| 9127963S6 | TREASURY BILL 0.00000 07/15/2021 | US | 400,000 | $399,524.50 | |
| 912810FS2 | TSY INFL IX N/B 2.00000 01/15/2026 | US | 2,708,143.95 | $3,223,061.56 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 1,900,000 | $2,036,636.71 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 1,025,000 | $1,095,869.14 | |
| 912828YN4 | US TREASURY FRN FLT 0.40503 10/31/2021 | US | 4,332,000 | $4,346,006.57 | |
| 912828ZJ2 | TSY INFL IX N/B 0.12500 04/15/2025 | US | 2,026,041.5 | $2,178,706.89 | |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,425 | $15,048.00 |
| 91823AAN1 | VBTOW 2020-1A C2 3.03100 06/15/2050 | US | 150,000 | $155,276.99 | |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 990,000 | $1,344,832.74 | |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 4,050 | $858,559.50 |
| 92826CAK8 | VISA INC 2.70000 04/15/2040 | US | 830,000 | $896,535.38 | |
| 928668BE1 | VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 | US | 500,000 | $549,552.61 | |
| 929160109 | VULCAN MATERIALS CO | US | VMC | 1,660 | $199,200.00 |
| 93065PAA9 | WBHT 2019-WBM A FLT 1.21188 12/15/2033 | US | 390,000 | $370,485.73 | |
| 931142103 | WAL MART STORES | US | WMT | 2,872 | $398,777.20 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,180 | $134,520.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,840 | $189,336.00 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 788 | $45,325.76 |
| 95081QAP9 | WESCO DISTRIBUTION INC 7.25000 06/15/2028 | US | 45,000 | $50,196.83 | |
| 962178AN9 | TRI POINTE GROUP / HOMES 5.87500 06/15/2024 | US | 40,000 | $43,400.00 | |
| 966387AH5 | WHITING PETROLEUM CORP 5.75000 03/15/2021 | US | 130,000 | $29,250.00 | |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 700,000 | $773,394.34 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 230,149.69 | $236,962.14 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 755 | $39,531.80 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $18,544.19 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $112,008.59 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $51,933.55 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 17,300 | $404,809.73 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $18,074.22 | |
| BBG00W89CJ51 | BABA US 09/04/20 P240 | CN | -6 | -$36.00 | |
| BBG00WD4YYY7 | COG US 09/11/20 C20 | US | -82 | -$820.00 | |
| BBG00WD57V16 | CRM US 09/11/20 C230 | US | -7 | -$28,070.00 | |
| BBG00WDJ9S48 | PYPL US 09/11/20 P195 | US | -8 | -$1,200.00 | |
| BBG00WN64F39 | FB US 09/11/20 C282.5 | US | -5 | -$8,100.00 | |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 14,315 | $20,347.23 |
| BJVB695 | BUONI POLIENNALI DEL TES 2.45000 09/01/2050 | IT | 120,000 | $155,836.18 | |
| BK0939417 | AMERICAN TANKER INC 7.75000 07/02/2025 | US | 70,000 | $70,441.00 | |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 5,880 | $401,711.96 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 4,010 | $233,058.49 |
| G1151C101 | ACCENTURE PLC - CL A | IE | ACN | 917 | $220,015.81 |
| G29183103 | EATON CORP PLC | US | ETN | 1,255 | $128,135.50 |
| G5494J103 | LINDE PLC | GB | LIN | 817 | $204,037.58 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 4,771 | $512,739.37 |
| H01301128 | ALCON INC | CH | ALC | 8,915 | $511,186.10 |
| H1467J104 | CHUBB LTD | CH | CB | 1,004 | $125,500.00 |
| USD | US DOLLAR | US | 4,905,068.38 | $4,905,068.38 |
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
$31.36
Daily $ Change
-$0.03
Daily % Change
-0.10%
as of 09/24/2020
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 08/31/2020
YTD
6.41%
1 Year
8.95%
3 Year
6.17%
5 Year
5.76%
10 Year
5.30%
Inception
(01/01/2000)
5.77%
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 08/31/2020
| GOVERNMENT AGENCY | 8.51% |
| TREASURY NOTES | 5.94% |
| TSY INFL IX N/B 2.00000 01/15/2026 | 3.00% |
| TSY INFL IX N/B 0.12500 04/15/2025 | 2.03% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.45% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.25% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.22% |
| ALIBABA GROUP HOLDING 3.40000 12/06/2027 | 1.18% |
| AMERICAN TOWER CORP 3.80000 08/15/2029 | 1.12% |
| TREASURY BONDS | 1.02% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 08/31/2020
| Bonds | 64.24% | |
| Stocks | 31.39% | |
| Cash | 4.37% |
Detailed Asset Class Allocation
As of 08/31/2020
| International Equities | 6.61% | |
| Small Capitalization | 1.18% | |
| Mid Capitalization | 3.59% | |
| Large Capitalization | 20.01% | |
| Long Term Fixed Income | 22.59% | |
| Intermediate Term Fixed Income | 33.61% | |
| Short Term Fixed Income | 8.04% | |
| Cash | 4.37% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
August Fund Holdings
As of 08/31/2020
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 310,000 | $363,411.59 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 2,945 | $282,042.65 |
| 00507V109 | ACTIVISION INC | US | ATVI | 5,380 | $449,337.60 |
| 00653VAA9 | ADAPTHEALTH LLC 6.12500 08/01/2028 | US | 50,000 | $52,375.00 | |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 970,000 | $972,180.44 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 35,000 | $35,700.00 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 610 | $40,821.20 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 400,000 | $400,837.76 | |
| 00914AAB8 | AIR LEASE CORP 3.75000 06/01/2026 | US | 300,000 | $306,762.94 | |
| 01166WAA5 | ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 50,000 | $51,908.43 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 145 | $24,415.10 |
| 01609W102 | ALIBABA GROUP - ADR | CN | BABA | 1,410 | $404,712.30 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 1,120,000 | $1,268,549.28 | |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 250 | $407,382.50 |
| 023135106 | AMAZON.COM INC | US | AMZN | 180 | $621,172.80 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 3,950 | $131,974.55 |
| 02406PBA7 | AMERICAN AXLE & MFG INC 6.87500 07/01/2028 | US | 25,000 | $26,036.50 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 1,212 | $41,086.80 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 2,530 | $72,459.20 |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 970 | $241,675.50 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 1,040,000 | $1,203,034.64 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 1,585 | $60,784.75 |
| 03217CAA4 | AMS AG 7.00000 07/31/2025 | AT | 200,000 | $208,000.00 | |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 50,000 | $44,625.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 25,000 | $22,312.50 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 989 | $35,633.67 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 3,510 | $35,696.70 |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 753 | $104,734.77 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 325 | $51,369.50 |
| 05401AAJ0 | AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 | KY | 420,000 | $361,107.14 | |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 12,655 | $325,739.70 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 490,000 | $549,127.53 | |
| 071734AH0 | BAUSCH HEALTH COS INC 5.00000 01/30/2028 | CA | 30,000 | $29,625.00 | |
| 084423102 | WR BERKLEY CORP | US | WRB | 4,315 | $267,745.75 |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,920 | $418,636.80 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 1,655 | $129,139.65 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 120 | $229,254.00 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 2,320 | $25,821.60 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 4,529 | $281,703.80 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 130,000 | $254.80 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,210 | $111,065.90 |
| 12530MAA3 | SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 375,000 | $380,505.94 | |
| 12530MAB1 | SORT 2020-1 A2 1.99000 07/15/2060 | US | 304,745.83 | $310,213.73 | |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 109,841.92 | $113,788.63 | |
| 12572Q105 | CME GROUP INC | US | CME | 640 | $112,556.80 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 317,304.54 | $323,827.34 | |
| 12654TAA8 | CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 | US | 35,000 | $35,051.80 | |
| 127097103 | CABOT OIL & GAS CORP | US | COG | 36,110 | $685,006.70 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 30,000 | $28,500.00 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 620 | $56,382.80 |
| 133131AZ5 | CAMDEN PROPERTY TRUST 2.80000 05/15/2030 | US | 750,000 | $822,757.35 | |
| 13321L108 | CAMECO CORP | CA | CCJ | 19,605 | $226,829.85 |
| 136375102 | CANADIAN NATIONAL RAILWAY CO | CA | CNI | 1,314 | $137,418.12 |
| 149123101 | CATERPILLAR INC | US | CAT | 1,322 | $188,133.82 |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 139,852.07 | $138,671.19 | |
| 15135UAS8 | CENOVUS ENERGY INC 5.37500 07/15/2025 | CA | 5,000 | $5,089.34 | |
| 16119P108 | CHARTER COMMUNICATIONS INC-A | US | CHTR | 740 | $455,551.40 |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 129,081.98 | $129,525.00 | |
| 166764100 | CHEVRON CORP | US | CVX | 875 | $73,438.75 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 7,367 | $311,034.74 |
| 172967424 | CITIGROUP INC | US | C | 3,798 | $194,153.76 |
| 172967KA8 | CITIGROUP INCA 4.45000 09/29/2027 | US | 860,000 | $999,779.88 | |
| 191216100 | COCA COLA CO/THE | US | KO | 11,620 | $575,538.60 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 2,452 | $194,345.52 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 5,724 | $256,492.44 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 780,000 | $865,783.46 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 394,969.51 | $407,115.10 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 790 | $36,893.00 |
| 20449X401 | COMPASS GROUP PLC ADR | GB | CMPGY | 13,890 | $222,934.50 |
| 20605P101 | CONCHO RESOURCES INC | US | CXO | 5,370 | $279,132.60 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 3,760 | $142,466.40 |
| 217204106 | COPART INC | US | CPRT | 2,010 | $207,673.20 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 2,004 | $59,819.40 |
| 22534GAA1 | CAALT 2020-1A 2.01000 02/15/2029 | US | 440,000 | $450,662.92 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 460 | $75,095.00 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 820,000 | $901,290.16 | |
| 22822VAR2 | CROWN CASTLE INTL CORP 3.30000 07/01/2030 | US | 260,000 | $289,648.87 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 212,416.88 | $217,756.87 | |
| 229663109 | CUBESMART | US | CUBE | 800 | $25,296.00 |
| 25243Q205 | DIAGEO PLC-SPONSORED ADR | GB | DEO | 959 | $128,889.60 |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 733 | $114,091.45 |
| 254687FW1 | WALT DISNEY COMPANY/THE 2.20000 01/13/2028 | US | 320,000 | $338,616.84 | |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 910,000 | $1,091,458.76 | |
| 256746108 | DOLLAR TREE STORES INC | US | DLTR | 2,210 | $212,756.70 |
| 25746UDG1 | DOMINION ENERGY 3.37500 04/01/2030 | US | 500,000 | $569,161.36 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 40,000 | $41,600.00 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 1,100 | $30,712.00 |
| 26439XAC7 | DCP MIDSTREAM OPERATING 8.12500 08/16/2030 | US | 30,000 | $35,625.00 | |
| 264411505 | DUKE RLTY INVTS INC | US | DRE | 1,370 | $52,813.50 |
| 26875P101 | EOG RESOURCES INC | US | EOG | 3,900 | $176,826.00 |
| 26884L109 | EQT CORP | US | EQT | 14,465 | $229,559.55 |
| 26884LAG4 | EQT CORP 8.75000 02/01/2030 | US | 25,000 | $29,937.50 | |
| 277276101 | EASTGROUP PROPERTIES | US | EGP | 117 | $15,579.72 |
| 285512109 | ELECTRONIC ARTS | US | EA | 2,360 | $329,149.20 |
| 291011104 | EMERSON ELEC CO | US | EMR | 1,952 | $135,605.44 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 860,000 | $926,812.91 | |
| 29444U700 | EQUINIX INC | US | EQIX | 832 | $657,096.96 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 860 | $57,009.40 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 565 | $31,894.25 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 66 | $14,289.66 |
| 30212P303 | EXPEDIA INC | US | EXPE | 7,620 | $747,903.00 |
| 30212PAS4 | EXPEDIA GROUP INC 6.25000 05/01/2025 | US | 365,000 | $401,071.40 | |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 1,550,000 | $1,560,011.25 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 150 | $15,982.50 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 3,370 | $134,597.80 |
| 302491303 | FMC CORP | US | FMC | 1,950 | $208,377.00 |
| 30262DAL5 | FREMF 2011-K13 B 4.76356 01/25/2048 | US | 410,000 | $413,743.34 | |
| 30262SAR9 | FREMF 2015-K42 B FLT 3.98209 12/25/2024 | US | 180,000 | $194,551.13 | |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 20,000 | $18,000.00 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96344 11/25/2047 | US | 700,000 | $767,691.05 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 10,470,942.89 | $19,702.13 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 1,390 | $407,548.00 |
| 3128M1AM1 | FHLM POOL G11912 5.50000 03/01/2021 | US | 937.45 | $940.89 | |
| 3128M6HZ4 | FHLM POOL G04448 5.50000 07/01/2038 | US | 124,552.76 | $144,330.78 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 2,839.49 | $3,297.50 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 9,470.08 | $11,159.16 | |
| 3128M82W3 | FHLM POOL G06789 6.00000 05/01/2040 | US | 101,005.46 | $118,856.72 | |
| 3128M9ZU9 | FHLM POOL G07655 5.50000 12/01/2035 | US | 32,603.23 | $38,286.41 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 31,837.81 | $33,088.90 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 1,783.06 | $1,818.40 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 1,828.95 | $1,889.84 | |
| 3128MJ2U3 | FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 379,759.98 | $411,951.23 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 68,950.08 | $79,802.08 | |
| 3128MJY87 | FHLM POOL FG G08734 4.00000 11/01/2046 | US | 34,556.02 | $37,398.93 | |
| 3128P75F6 | FHLM POOL C91746 4.50000 12/01/2033 | US | 33,278.71 | $36,648.33 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 343,517.28 | $384,092.81 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 110,108.39 | $120,123.55 | |
| 3132XTPU6 | FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 | US | 325,987.84 | $348,477.12 | |
| 3133A6DB4 | FEDERAL NATL MTG ASSN FR QB0098 2.50000 06/01/2050 | US | 1,008,932.4 | $1,061,576.33 | |
| 3136AY6W8 | FNA 2017-M15 A1 FLT 3.05797 09/25/2027 | US | 460,306.33 | $500,280.39 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 214,955.54 | $223,303.38 | |
| 31371MLB1 | FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 | US | 42,341.96 | $49,646.98 | |
| 31371MRU3 | FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 | US | 1,226.15 | $1,292.42 | |
| 31371NDQ5 | FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 | US | 4,881.32 | $5,640.58 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.32366 04/25/2021 | US | 10,621,242.29 | $43,655.43 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.63779 10/25/2021 | US | 2,236,082.04 | $28,505.80 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.54441 06/25/2022 | US | 15,212,715.45 | $296,196.13 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.28647 04/25/2023 | US | 28,965,220.39 | $119,258.50 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.20559 05/25/2023 | US | 17,021,188.19 | $48,052.52 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 225,277.39 | $229,977.98 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 133,339.35 | $135,147.79 | |
| 3138A7BL1 | FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 | US | 117,194.17 | $126,511.08 | |
| 3138AJ4A7 | FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 | US | 30,157.19 | $32,560.96 | |
| 3138EPLE2 | FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 | US | 72,603.44 | $80,954.48 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 | US | 506,156.57 | $597,986.77 | |
| 3138WDRZ6 | FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 | US | 463,354.94 | $510,905.26 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 45,346.97 | $53,051.76 | |
| 31403DVZ9 | FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 | US | 7,717.49 | $9,001.17 | |
| 3140F4UB0 | FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 | US | 405,727.59 | $437,264.94 | |
| 3140F9M51 | FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 | US | 86,817.81 | $94,292.53 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 887.44 | $900.17 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 1,153.92 | $1,173.31 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 5,129.16 | $5,169.67 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 5,658.89 | $5,710.92 | |
| 31410KLD4 | FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 | US | 13,318.61 | $15,413.67 | |
| 31410WSY5 | FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 | US | 5,551.57 | $6,187.28 | |
| 31411JXP6 | FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 | US | 29,957.84 | $34,680.95 | |
| 31411RHZ4 | FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 | US | 4,265.64 | $4,672.74 | |
| 31413CCL1 | FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 | US | 1,730.42 | $1,928.28 | |
| 31413MR66 | FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 | US | 16,066.15 | $18,078.40 | |
| 31413S6R0 | FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 | US | 11,365.1 | $13,237.25 | |
| 31414CQ50 | FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 | US | 2,446.59 | $2,862.07 | |
| 31414DJ23 | FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 | US | 6,325.67 | $7,153.74 | |
| 31414QX28 | FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 | US | 3,610.8 | $3,794.96 | |
| 31414UF52 | FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 | US | 23,111.46 | $24,232.69 | |
| 31415ALX7 | FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 | US | 4,520.27 | $5,031.98 | |
| 31415BBC2 | FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 | US | 7,894.94 | $8,800.19 | |
| 31415BBT5 | FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 | US | 4,929.81 | $5,405.71 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 3,108.25 | $3,134.37 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 12,026.76 | $13,399.16 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 155,459.8 | $171,259.09 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 166,599.11 | $183,533.67 | |
| 31418CRE6 | FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 | US | 326,495.92 | $353,926.95 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 195,442.29 | $206,357.77 | |
| 31418DNN8 | FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 | US | 298,383.6 | $309,112.07 | |
| 31418DQ21 | FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 | US | 520,662.71 | $548,122.24 | |
| 31418DQG0 | FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 | US | 1,333,690.39 | $1,404,027.10 | |
| 31418DQZ8 | FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 | US | 773,108.82 | $798,210.98 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 21,670.54 | $25,605.50 | |
| 31418MJC7 | FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 | US | 71,891.54 | $83,317.47 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 13,272.51 | $15,399.76 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 55,000 | $60,637.50 | |
| 316067107 | FIDELITY CASH RESERVES | US | 8,543.9 | $8,543.90 | |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 1,080 | $46,062.00 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 40,000 | $40,200.00 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 470,000 | $481,426.64 | |
| 345370CX6 | FORD MOTOR COMPANY 9.62500 04/22/2030 | US | 50,000 | $65,538.75 | |
| 345397XU2 | FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 | US | 20,000 | $20,346.40 | |
| 346232AE1 | FORESTAR GROUP INC 5.00000 03/01/2028 | US | 30,000 | $30,311.40 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 25,000 | $24,250.00 | |
| 34960PAC5 | FORTRESS TRANS & INFRAST 9.75000 08/01/2027 | US | 30,000 | $31,988.10 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 25,000 | $27,289.25 | |
| 357081AE8 | FREMF 2015-K720 B FLT 3.50986 07/25/2022 | US | 100,000 | $103,215.12 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 25,000 | $24,125.00 | |
| 36237HAA9 | G-III APPAREL GROUP LTD 7.87500 08/15/2025 | US | 35,000 | $34,781.25 | |
| 36257MAA3 | GSMS 2019-70P A 1.16188 10/15/2036 | US | 340,000 | $327,225.76 | |
| 36294VKJ8 | GNMA POOL 660997 5.50000 05/15/2037 | US | 29,460.4 | $32,749.18 | |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 705 | $105,291.75 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 780,000 | $611,941.20 | |
| 370334104 | GENERAL MLS INC | US | GIS | 2,195 | $140,370.25 |
| 37255LAA5 | GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 | US | 35,000 | $36,885.80 | |
| 374297109 | GETTY REALTY CORP | US | GTY | 1,065 | $31,193.85 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 3,220 | $214,935.00 |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 394,831.18 | $413,971.88 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 27,560 | $385,288.80 |
| 4031976 | ADIDAS AG | DE | ADS GR | 680 | $206,921.49 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 590,000 | $679,780.30 | |
| 418751AD5 | HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 | US | 25,000 | $25,125.00 | |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 580 | $16,733.00 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,015 | $26,785.85 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 2,405 | $66,474.20 |
| 427866108 | HERSHEY CO/THE | US | HSY | 653 | $97,061.92 |
| 431571AB4 | HILLENBRAND INC 4.50000 09/15/2026 | US | 40,000 | $42,900.00 | |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 3,140 | $283,730.40 |
| 437076102 | HOME DEPOT INC | US | HD | 1,652 | $470,886.08 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 5,023 | $128,488.34 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 1,500 | $248,325.00 |
| 443201AA6 | HOWMET AEROSPACE INC 6.87500 05/01/2025 | US | 40,000 | $45,466.95 | |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 25,000 | $27,312.50 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 45,000 | $47,250.00 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 853 | $168,510.15 |
| 45337C102 | INCYTE CORP | US | INCY | 1,390 | $133,926.50 |
| 45569LAA9 | INDIGO NATURAL RES LLC 6.87500 02/15/2026 | US | 30,000 | $30,675.00 | |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 45,000 | $42,750.00 | |
| 45778Q107 | INSPERITY INC | US | NSP | 3,250 | $218,952.50 |
| 458140100 | INTEL CORP | US | INTC | 6,010 | $306,209.50 |
| 45857P806 | INTERCONTINENTAL HOTELS-ADR | GB | IHG | 1,780 | $103,168.80 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 4,160 | $441,916.80 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 1,864 | $229,849.84 |
| 46116VAE5 | INTL FC STORE INC 8.62500 06/15/2025 | US | 50,000 | $54,125.00 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 1.01188 12/17/2036 | US | 145,004.35 | $143,931.87 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 1.31188 12/17/2036 | US | 120,000 | $119,795.86 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 3,206 | $91,787.78 |
| 46284VAN1 | IRON MOUNTAIN INC 4.50000 02/15/2031 | US | 25,000 | $25,659.25 | |
| 465410BX5 | ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 200,000 | $206,843.13 | |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 3,454 | $346,056.26 |
| 46635GAE0 | JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 | US | 21,184.17 | $21,161.00 | |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 166,445.88 | $169,397.63 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 180,812.16 | $189,029.69 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 225,540.46 | $228,132.62 | |
| 46647PBP0 | JPMORGAN CHASE & CO 2.95600 05/13/2031 | US | 870,000 | $935,748.95 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 133,268.25 | $133,778.36 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 129,561.74 | $130,378.46 | |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 6,646 | $1,019,562.86 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 25,000 | $3,500.00 | |
| 48088LAB3 | JOSEPH T RYERSON & SON 8.50000 08/01/2028 | US | 25,000 | $27,312.50 | |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 45,000 | $48,937.50 | |
| 49427F108 | KILROY REALTY CORP | US | KRC | 862 | $50,444.24 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 893 | $140,879.68 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 630,000 | $838,069.07 | |
| 505742AG1 | LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 | US | 35,000 | $33,250.00 | |
| 512816109 | LAMAR ADVERTISING CO-A | US | LAMR | 360 | $24,922.80 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 405 | $42,699.15 |
| 532457108 | ELI LILLY & CO | US | LLY | 1,267 | $188,010.13 |
| 539473AE8 | LLOYDS BANK PLC 12.00000 12/16/2024 | GB | 100,000 | $116,854.80 | |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 645 | $251,717.70 |
| 541056AA5 | LOGAN MERGER SUB INC 5.50000 09/01/2027 | US | 20,000 | $20,393.80 | |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 45,000 | $7,200.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 540 | $202,861.80 |
| 552697AQ7 | MDC PARTNERS INC 6.50000 05/01/2024 | CA | 30,000 | $28,650.00 | |
| 552848AG8 | MGIC INVESTMENT CORP 5.25000 08/15/2028 | US | 35,000 | $36,750.00 | |
| 573284106 | MARTIN MARIETTA MATERIALS | US | MLM | 490 | $99,406.30 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 2,780 | $995,768.20 |
| 577128AA9 | MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 | US | 5,000 | $4,725.00 | |
| 58933Y105 | MERCK & CO INC | US | MRK | 4,263 | $363,506.01 |
| 594918104 | MICROSOFT CORP | US | MSFT | 2,040 | $460,081.20 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 10,490 | $477,399.90 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 545 | $63,830.40 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 10,815 | $631,812.30 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 600 | $176,784.00 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 35,000 | $23,975.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 10,000 | $7,300.00 | |
| 62913TAJ1 | NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 | US | 20,000 | $14,600.00 | |
| 63938CAH1 | NAVIENT CORP 6.75000 06/25/2025 | US | 35,000 | $36,487.50 | |
| 63938NAF1 | NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 | MH | 15,000 | $16,237.50 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 137,626.89 | $138,360.36 | |
| 63941RAB6 | NAVSL 2019-2A A2 1.17513 02/27/2068 | US | 1,000,000 | $1,007,434.20 | |
| 63941XAA5 | NAVSL 2020-FA A 1.22000 07/15/2069 | US | 670,000 | $670,973.64 | |
| 63942FAB1 | NAVSL 2020-1A A1B 1.19925 06/25/2069 | US | 700,000 | $706,163.85 | |
| 64033QAB5 | NSLT 2015-2A A2 0.77513 09/25/2047 | US | 712,409.89 | $688,529.91 | |
| 644393AA8 | NEW FORTRESS ENERGY INC 6.75000 09/15/2025 | US | 45,000 | $45,661.50 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 230,253.78 | $246,500.42 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 284,739.24 | $307,407.67 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 376,822.36 | $404,139.80 | |
| 654106AM5 | NIKE INC 3.37500 03/27/2050 | US | 310,000 | $356,815.37 | |
| 6642321 | NIKON CORP | JP | 7731 JP | 18,400 | $144,103.17 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 135,000 | $2,160.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 7,030 | $605,001.80 |
| 67401PAB4 | OAKTREE SPECIALTY LEND 3.50000 02/25/2025 | US | 20,000 | $20,133.35 | |
| 674599EA9 | OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 | US | 25,000 | $28,250.00 | |
| 675232AB8 | OCEANEERING INTL INC 6.00000 02/01/2028 | US | 45,000 | $28,395.00 | |
| 682189AQ8 | ON SEMICONDUCTOR CORP 3.87500 09/01/2028 | US | 20,000 | $20,869.60 | |
| 68389X105 | ORACLE CORP | US | ORCL | 3,898 | $223,043.56 |
| 68555PAA8 | ORBCOMM INC 8.00000 04/01/2024 | US | 35,000 | $34,037.50 | |
| 69145LAA2 | OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 | US | 5,000 | $4,764.35 | |
| 69327RAJ0 | PDC ENERGY INC 5.75000 05/15/2026 | US | 30,000 | $30,690.00 | |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 808 | $89,849.60 |
| 69354NAC0 | PRA GROUP INC 7.37500 09/01/2025 | US | 30,000 | $31,977.00 | |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 1,350 | $275,589.00 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 3,410 | $410,724.74 |
| 713448108 | PEPSICO INC | US | PEP | 1,570 | $219,894.20 |
| 717081103 | PFIZER INC | US | PFE | 9,574 | $361,801.46 |
| 717081EW9 | PFIZER INC 2.62500 04/01/2030 | US | 220,000 | $245,625.92 | |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 35,000 | $32,167.10 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 1,065 | $19,329.75 |
| 723787107 | PIONEER NATURAL RESOURCES CO | US | PXD | 3,065 | $318,545.45 |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 1,170,000 | $1,313,478.21 | |
| 74166MAE6 | PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 | US | 20,000 | $21,000.00 | |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 299,442.64 | $300,631.46 | |
| 74340W103 | PROLOGIS | US | PLD | 2,197 | $223,786.42 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 315 | $66,906.00 |
| 747525103 | QUALCOMM INC | US | QCOM | 1,836 | $218,667.60 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 65,000 | $65,195.00 | |
| 75513E101 | RAYTHEON TECHNOLOGIES CORP | US | RTX | 3,130 | $190,930.00 |
| 756109104 | REALTY INCOME CORP | US | O | 305 | $18,919.15 |
| 758849103 | REGENCY CENTERS CORP | US | REG | 260 | $10,324.60 |
| 76169C100 | REXFORD INDUSTRIAL REALITY IN | US | REXR | 1,045 | $50,139.10 |
| 778296AE3 | ROSS STORES INC 5.45000 04/15/2050 | US | 280,000 | $360,026.73 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 1,610 | $45,241.00 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 3,650 | $295,285.00 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 420 | $153,896.40 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 960 | $293,827.20 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 50,000 | $51,500.00 | |
| 78443BAG1 | SLMA 2006-10 A6 FLT 0.39450 03/25/2044 | US | 129,667.02 | $120,888.86 | |
| 78449XAA0 | SMB 2020-BA A1A 1.29000 07/15/2053 | US | 700,000 | $699,165.04 | |
| 78471CAB5 | SOFI 2017-D A2FX 2.65000 09/25/2040 | US | 581,670.7 | $595,958.45 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 910,000 | $1,094,477.65 | |
| 79466L302 | SALESFORCE.COM | US | CRM | 1,650 | $449,872.50 |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 5,090 | $96,760.90 |
| 81745BAB1 | SEMT 2013-6 A2 3.00000 05/25/2043 | US | 313,393.74 | $327,876.79 | |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 207,352.04 | $213,275.86 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 270,664.69 | $278,441.02 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 207,237.14 | $208,756.35 | |
| 81762P102 | SERVICENOW INC | US | NOW | 430 | $207,268.60 |
| 83402DAC5 | SOFI 2016-C A2B 2.36000 12/27/2032 | US | 153,941.87 | $155,376.98 | |
| 83404LAC5 | SOFI 2016-D A2B 2.34000 04/25/2033 | US | 57,908.93 | $58,752.44 | |
| 83404RAB4 | SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 250,000 | $258,133.43 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 156,699.62 | $158,509.42 | |
| 844741BJ6 | SOUTHWEST AIRLINES CO 5.25000 05/04/2025 | US | 700,000 | $764,000.69 | |
| 85172FAN9 | SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 | US | 25,000 | $28,687.38 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 805 | $26,001.50 |
| 85571BAL9 | STARWOOD PROPERTY TRUST 4.75000 03/15/2025 | US | 40,000 | $38,500.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 1.63188 11/15/2027 | US | 886,341.61 | $620,633.86 | |
| 861036AA9 | STL HOLDING CO LLC 7.50000 02/15/2026 | US | 30,000 | $30,375.00 | |
| 86212XAA8 | STR 2019-1 A1 MTGE 2.82000 11/20/2049 | US | 295,368.86 | $298,285.04 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 630 | $93,920.40 |
| 87105L104 | SWITCH INC - A | US | SWCH | 2,465 | $42,398.00 |
| 871829107 | SYSCO CORP | US | SYY | 3,615 | $217,406.10 |
| 872540AU3 | TJX COS INC 4.50000 04/15/2050 | US | 410,000 | $521,603.23 | |
| 87422VAJ7 | TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 | US | 35,000 | $36,168.65 | |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 92,339.15 | $92,526.13 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 15,000 | $3,337.50 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 780,000 | $900,112.47 | |
| 88146M101 | TERRENO REALTY CORP | US | TRNO | 575 | $34,293.00 |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 1,987 | $282,452.05 |
| 883556102 | THERMO FISHER SCIENTIFIC INC | US | TMO | 510 | $218,779.80 |
| 88579Y101 | 3M CO | US | MMM | 1,289 | $210,132.78 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 8,671 | $343,111.47 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 537,414.16 | $548,759.73 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 244,022.27 | $250,897.74 | |
| 89177EAA7 | TPMT 2019-HY1 A1 1.17513 10/25/2048 | US | 222,071.83 | $221,609.61 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 35,000 | $32,287.50 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 768,312.7 | $770,335.13 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 496,425.84 | $514,396.46 | |
| 89613GAA4 | TAH 2020-SFR1 A 1.49900 07/17/2038 | US | 610,000 | $609,875.62 | |
| 89832Q109 | TRUIST FINANCIAL CORP | US | TFC | 3,540 | $137,387.40 |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 65,000 | $62,562.50 | |
| 902653104 | UDR INC | US | UDR | 523 | $18,205.63 |
| 902973304 | U.S. BANCORP | US | USB | 3,694 | $134,461.60 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 16,106 | $959,595.48 |
| 907818108 | UNION PAC CORP | US | UNP | 1,429 | $274,996.76 |
| 9127963S6 | TREASURY BILL 0.00000 07/15/2021 | US | 400,000 | $399,524.50 | |
| 912810FS2 | TSY INFL IX N/B 2.00000 01/15/2026 | US | 2,708,143.95 | $3,223,061.56 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 1,900,000 | $2,036,636.71 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 1,025,000 | $1,095,869.14 | |
| 912828YN4 | US TREASURY FRN FLT 0.40503 10/31/2021 | US | 4,332,000 | $4,346,006.57 | |
| 912828ZJ2 | TSY INFL IX N/B 0.12500 04/15/2025 | US | 2,026,041.5 | $2,178,706.89 | |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,425 | $15,048.00 |
| 91823AAN1 | VBTOW 2020-1A C2 3.03100 06/15/2050 | US | 150,000 | $155,276.99 | |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 990,000 | $1,344,832.74 | |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 4,050 | $858,559.50 |
| 92826CAK8 | VISA INC 2.70000 04/15/2040 | US | 830,000 | $896,535.38 | |
| 928668BE1 | VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 | US | 500,000 | $549,552.61 | |
| 929160109 | VULCAN MATERIALS CO | US | VMC | 1,660 | $199,200.00 |
| 93065PAA9 | WBHT 2019-WBM A FLT 1.21188 12/15/2033 | US | 390,000 | $370,485.73 | |
| 931142103 | WAL MART STORES | US | WMT | 2,872 | $398,777.20 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 1,180 | $134,520.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 7,840 | $189,336.00 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 788 | $45,325.76 |
| 95081QAP9 | WESCO DISTRIBUTION INC 7.25000 06/15/2028 | US | 45,000 | $50,196.83 | |
| 962178AN9 | TRI POINTE GROUP / HOMES 5.87500 06/15/2024 | US | 40,000 | $43,400.00 | |
| 966387AH5 | WHITING PETROLEUM CORP 5.75000 03/15/2021 | US | 130,000 | $29,250.00 | |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 700,000 | $773,394.34 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 230,149.69 | $236,962.14 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 755 | $39,531.80 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 400,000 | $18,544.19 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 140,000 | $112,008.59 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 1,100,000 | $51,933.55 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 17,300 | $404,809.73 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 350,000 | $18,074.22 | |
| BBG00W89CJ51 | BABA US 09/04/20 P240 | CN | -6 | -$36.00 | |
| BBG00WD4YYY7 | COG US 09/11/20 C20 | US | -82 | -$820.00 | |
| BBG00WD57V16 | CRM US 09/11/20 C230 | US | -7 | -$28,070.00 | |
| BBG00WDJ9S48 | PYPL US 09/11/20 P195 | US | -8 | -$1,200.00 | |
| BBG00WN64F39 | FB US 09/11/20 C282.5 | US | -5 | -$8,100.00 | |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 14,315 | $20,347.23 |
| BJVB695 | BUONI POLIENNALI DEL TES 2.45000 09/01/2050 | IT | 120,000 | $155,836.18 | |
| BK0939417 | AMERICAN TANKER INC 7.75000 07/02/2025 | US | 70,000 | $70,441.00 | |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 5,880 | $401,711.96 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 4,010 | $233,058.49 |
| G1151C101 | ACCENTURE PLC - CL A | IE | ACN | 917 | $220,015.81 |
| G29183103 | EATON CORP PLC | US | ETN | 1,255 | $128,135.50 |
| G5494J103 | LINDE PLC | GB | LIN | 817 | $204,037.58 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 4,771 | $512,739.37 |
| H01301128 | ALCON INC | CH | ALC | 8,915 | $511,186.10 |
| H1467J104 | CHUBB LTD | CH | CB | 1,004 | $125,500.00 |
| USD | US DOLLAR | US | 4,905,068.38 | $4,905,068.38 |
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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