Investment Objective

To provide long-term capital growth.

Investment Strategy

The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in fixed income securities.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek long-term capital growth and generally have the time to withstand market volatility
  • Who have a very high capital risk tolerance

About 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Daily Price

$37.02

Daily $ Change

-$0.30

Daily % Change

-0.81%

as of 04/19/2018

CUSIP

563821115

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

Annualized Performance

As of 03/31/2018

YTD

0.80%

1 Year

15.37%

3 Year

7.37%

5 Year

8.66%

10 Year

7.12%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

7.43%

Returns are net of Pro-Mix® CIT Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.90%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 3.96%
QORVO INC 2.24%
BOOKING HOLDINGS INC 2.14%
MEDTRONIC INC 2.05%
SERVICENOW INC 1.93%
FACEBOOK INC -A 1.77%
TREASURY BONDS 1.70%
ANHEUSER-BUSCH INBEV SA/NV 1.68%
O'REILLY AUTOMOTIVE INC 1.63%
PERRIGO CO PLC 1.59%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Stocks 88.63%
Bonds 10.63%
Cash 0.74%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities 31.61%
Small Capitalization 1.33%
Mid Capitalization 11.44%
Large Capitalization 44.25%
Long Term Fixed Income 2.81%
Intermediate Term Fixed Income 7.04%
Short Term Fixed Income 0.78%
Cash 0.74%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 75,000 $74,062.50
00206REM0 AT&T INC 3.90000 08/14/2027 US 460,000 $463,166.89
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 250,000 $258,125.00
004239109 ACADIA REALTY TRUST US AKR 1,105 $27,183.00
0045614 ANTOFAGASTA PLC GB ANTO LN 88,875 $1,149,049.66
0053673 ASHTEAD GROUP PLC GB AHT LN 6,720 $183,232.06
00724F101 ADOBE SYS INC US ADBE 29,905 $6,461,872.40
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 127,980 $2,851,394.40
008492100 AGREE REALTY CORP US ADC 505 $24,260.20
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 35,000 $36,400.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 117,000 $126,506.25
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 480 $59,947.20
01609W102 ALIBABA GROUP - ADR CN BABA 34,935 $6,411,969.90
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 720,000 $683,355.59
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 70,000 $71,050.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,068.75
02079K107 ALPHABET INC-CL C US GOOG 2,230 $2,300,891.70
02079K305 ALPHABET INC-CL A US GOOGL 2,210 $2,292,079.40
023135106 AMAZON.COM INC US AMZN 2,780 $4,023,605.20
02319V103 AMBEV SA-ADR BR ABEV 927,720 $6,744,524.40
0237400 DIAGEO PLC GB DGE LN 179,095 $6,056,927.27
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,430 $55,226.60
0263494 BAE SYSTEMS PLC GB BA/ LN 8,955 $73,266.89
02665T306 AMERICAN HOMES 4 RENT- A US AMH 4,090 $82,127.20
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 470,000 $460,568.46
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 290,000 $294,276.11
03027X100 AMERICAN TOWER REIT INC US AMT 36,010 $5,233,693.40
03064D108 AMERICOLD REALTY TRUST US COLD 1,275 $24,327.00
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 470,000 $450,731.59
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,715 $69,886.25
0405207 HALMA PLC GB HLMA LN 5,275 $87,318.18
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 460,000 $490,361.65
0490656 KERRY GROUP PLC-A IE KYGA LN 1,695 $171,333.26
053332102 AUTOZONE INC US AZO 6,230 $4,041,338.70
053484101 AVALONBAY COMMUNITIES INC US AVB 1,045 $171,860.70
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 3,620 $125,795.00
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 11,605 $75,117.66
058498106 BALL CORP US BLL 119,280 $4,736,608.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 290,000 $289,429.51
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 74,250 $6,019,447.50
09062X103 BIOGEN IDEC INC US BIIB 14,300 $3,915,626.00
09247X101 BLACKROCK INC US BLK 7,850 $4,252,502.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 11,895 $333,435.49
09627J102 BLUEROCK RESIDENTIAL GROWTH US 2,170 $18,445.00
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 630,000 $675,153.16
09857L108 BOOKING HOLDINGS INC US BKNG 4,525 $9,413,764.75
101121101 BOSTON PROPERTIES INC US BXP 905 $111,514.10
105368203 BRANDYWINE REALTY TRUST US BDN 2,760 $43,828.80
110122108 BRISTOL MYERS SQUIBB CO US BMY 30,715 $1,942,723.75
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,610 $150,570.90
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 135,000 $127,219.95
12508E101 CDK GLOBAL INC US CDK 42,715 $2,705,568.10
125269100 CF INDUSTRIES HOLDINGS INC US CF 54,190 $2,044,588.70
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 130,000 $123,662.50
13321L108 CAMECO CORP CA CCJ 7,287 $66,238.83
134429109 CAMPBELL SOUP CO US CPB 116,410 $5,041,717.10
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 6,325 $78,872.75
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 125,000 $119,062.50
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 55,000 $54,243.75
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 75,000 $82,968.75
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,925 $53,534.25
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 460,000 $696,580.30
191216100 COCA COLA CO/THE US KO 100,335 $4,357,549.05
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 35,000 $35,087.50
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 5,232 $29,403.84
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,370 $28,030.20
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,070 $79,021.80
21871N101 CORECIVIC INC US CXW 3,835 $74,859.20
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 400,000 $458,504.10
222795106 COUSINS PROPERTIES INC US CUZ 13,255 $115,053.40
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 65,000 $63,375.00
22822V101 CROWN CASTLE INTL CORP US CCI 620 $67,958.20
229663109 CUBESMART US CUBE 1,825 $51,465.00
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 35,000 $36,925.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 71,435 $1,003,034.23
23918K108 DAVITA INC. US DVA 99,160 $6,538,610.40
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 95,000 $91,822.25
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 28,000 $85,694.17
25271C102 DIAMOND OFFSHORE DRILLING US DO 96,110 $1,408,972.60
253393102 DICK'S SPORTING GOODS INC US DKS 130,395 $4,570,344.75
253868103 DIGITAL REALTY TRUST INC US DLR 1,295 $136,467.10
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 61,410 $204,531.11
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 130,000 $130,650.00
269246401 ETRADE FINANCIAL CORP US ETFC 85,500 $4,737,555.00
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 200,000 $194,691.47
2715777 QUEBECOR INC -CL B CA QBR/B CN 87,800 $1,678,514.38
277276101 EASTGROUP PROPERTIES US EGP 220 $18,185.20
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 83,920 $1,616,714.71
28140H203 EDUCATION REALTY TRUST INC US EDR 548 $17,947.00
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 370,000 $372,577.62
285512109 ELECTRONIC ARTS US EA 37,180 $4,507,703.20
2866857 LUNDIN MINING CORP CA LUN CN 168,550 $1,105,481.82
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 200,000 $191,715.49
294429105 EQUIFAX INC US EFX 25,245 $2,974,113.45
29444U700 EQUINIX INC US EQIX 565 $236,249.10
294628102 EQUITY COMMONWEALTH US EQC 1,230 $37,724.10
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 665 $58,367.05
29476L107 EQUITY RESIDENTIAL US EQR 1,370 $84,419.40
297178105 ESSEX PROPERTY TRUST INC US ESS 235 $56,559.80
298736109 EURONET WORLDWIDE INC US EEFT 33,200 $2,620,144.00
30225T102 EXTRA SPACE STORAGE INC US EXR 955 $83,428.80
30303M102 FACEBOOK INC -A US FB 48,780 $7,794,556.20
31428X106 FEDEX CORPORATION US FDX 19,285 $4,630,521.35
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,740 $80,090.20
345605109 FOREST CITY REALTY TRUST - A US FCE/A 2,045 $41,431.70
35671D857 FREEPORT-MCMORAN INC US FCX 187,855 $3,300,612.35
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 40,000 $40,600.42
36174X101 GGP INC US GGP 2,795 $57,185.70
371559105 GENESEE & WYOMING INC -CL A US GWR 41,660 $2,949,111.40
374297109 GETTY REALTY CORP US GTY 1,870 $47,161.40
37950E366 GLOBAL X MSCI GREECE ETF GR 12,945 $125,566.50
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 135,000 $135,540.00
37954A204 GLOBAL MEDICAL REIT INC US GMRE 3,115 $21,649.25
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 65,000 $64,837.50
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 1,375 $90,420.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 540 $53,805.60
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 2,780 $84,345.20
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 30,000 $31,500.00
40414L109 HCP INC US HCP 3,710 $86,183.30
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 60,000 $58,200.00
4116099 BPER BANCA IT BPE IM 17,905 $99,840.73
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,900 $50,255.00
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 70,000 $69,300.00
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 90,000 $89,212.50
44107P104 HOST MARRIOTT CORP US HST 2,390 $44,549.60
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 130,000 $127,400.00
4457624 TRIGANO SA FR TRI FP 765 $138,466.80
4497749 KBC GROEP NV BE KBC BB 1,905 $165,885.52
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 100,000 $96,750.00
45337C102 INCYTE CORP US INCY 61,750 $5,145,627.50
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,480 $31,946.40
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 130,000 $126,425.00
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 65,000 $67,231.00
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 250,000 $235,793.25
46120E602 INTUITIVE SURGICAL INC US ISRG 7,145 $2,949,670.35
46187W107 INVITATION HOMES INC US INVH 3,037 $69,334.71
464286608 ISHARES MSCI EMU XX 5,920 $256,632.00
464286780 ISHARES MSCI SOUTH AFRICA ET ZA 2,375 $163,162.50
46434G798 ISHARES MSCI RUSSIA CAPPED E RU 2,640 $96,201.60
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 660,000 $684,802.80
478160104 JOHNSON & JOHNSON US JNJ 43,440 $5,566,836.00
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 125,000 $112,500.00
4813345 SKANDINAVISKA ENSKILDA BAN-A SE SEBA SS 7,610 $79,953.00
4821100 SOLVAY SA BE SOLB BB 1,435 $199,436.00
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 570,000 $687,146.43
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 105,000 $107,100.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $83,912.00
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 100,000 $101,746.00
5107401 BEIERSDORF AG DE BEI GR 38,735 $4,389,749.60
512816109 LAMAR ADVERTISING CO US LAMR 630 $40,105.80
5129074 FRESENIUS MEDICAL DE FME GR 41,849 $4,274,158.02
517942108 LASALLE HOTEL PROPERTIES US LHO 1,145 $33,216.45
5228658 RANDSTAD HOLDING NV NL RAND NA 2,880 $189,677.05
5263574 FLSMIDTH & CO A/S DK FLS DC 1,105 $71,444.27
5289837 ERSTE GROUP BANK AG AT EBS AV 2,065 $103,814.55
53223X107 LIFE STORAGE INC US LSI 290 $24,220.80
5330047 DASSAULT SYSTEMES SA FR DSY FP 1,080 $146,873.06
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 432,000 $431,977.92
54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 4,035 $86,026.20
5458314 AKZO NOBEL NL AKZA NA 43,745 $4,133,160.13
550021109 LULULEMON - ADR CA LULU 53,147 $4,736,460.64
554382101 THE MACERICH CO US MAC 550 $30,811.00
5545670 JUNGHEINRICH AG DE JUN3 GR 4,590 $203,432.65
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 270,000 $278,136.57
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 105,000 $101,062.50
5633616 SOPRA STERIA GROUP FR SOP FP 1,175 $239,827.28
5669354 REPSOL SA ES REP SM 7,707.56 $137,007.05
5699373 WIENERBERGER AG AT WIE AV 5,205 $130,152.20
5713422 METSO OYJ FI METSO FH 4,995 $157,594.85
5727973 SIEMENS AG-REG DE SIE GR 2,500 $318,993.62
57636Q104 MASTERCARD INC-CLASS A US MA 38,075 $6,669,217.00
5852842 ACCOR SA FR AC FP 2,302 $124,365.35
58933Y105 MERCK & CO INC US MRK 33,435 $1,821,204.45
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 70,000 $66,150.00
594918104 MICROSOFT CORP US MSFT 64,275 $5,866,379.25
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,020 $93,064.80
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 67,990 $2,837,222.70
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 280,000 $292,799.25
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 670,000 $680,746.80
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 140,000 $139,825.00
6250724 DAIKIN INDUSTRIES LTD JP 6367 JP 1,100 $122,202.46
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 120,000 $106,449.97
6356934 FANUC LTD JP 6954 JP 807 $207,684.01
637417106 NATIONAL RETAIL PROPERTIES US NNN 870 $34,156.20
64110W102 NETEASE.COM INC- ADR CN NTES 380 $106,548.20
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 29,000 $211,224.61
6490995 KEYENCE CORP JP 6861 JP 600 $374,794.87
654106103 NIKE INC CLASS B US NKE 63,300 $4,205,652.00
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 126,000 $177,909.27
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 165,000 $168,300.00
66987V109 NOVARTIS AG- REG CH NVS 74,635 $6,034,239.75
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 29,020 $7,178,967.60
680665205 OLIN CORP US OLN 99,105 $3,011,800.95
6865504 SUZUKI MOTOR CORP JP 7269 JP 2,300 $124,874.71
69007J106 OUTFRONT MEDIA INC US OUT 1,765 $33,076.10
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 110,000 $112,475.00
697660207 PAMPA ENERGIA SA AR PAM 1,395 $83,142.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 85,000 $80,537.50
7110902 TECAN GROUP AG-REG CH TECN SW 435 $92,125.10
7123870 NESTLE SA-REGISTERED CH NESN SW 53,730 $4,246,901.31
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 200,000 $201,102.13
7147892 TEMENOS GROUP AG-REG CH TEMN SW 700 $83,936.51
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 710,000 $686,037.50
71943U104 PHYSICIANS REALTY TRUST US DOC 5,025 $78,239.25
7262610 CREDIT AGRICOLE SA FR ACA FP 9,935 $161,990.46
729640102 PLYMOUTH INDUSTRIAL REIT INC US 685 $11,768.30
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 125,000 $127,500.00
7339451 ORPEA SA FR ORP FP 1,085 $137,782.17
7380062 AAREAL BANK AG DE ARL GR 3,715 $177,228.32
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 4,885 $257,952.82
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 380,000 $373,314.16
74340W103 PROLOGIS US PLD 3,230 $203,457.70
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 430,000 $452,575.00
74460D109 PUBLIC STORAGE INC US PSA 580 $116,226.20
74736K101 QORVO INC US QRVO 139,750 $9,845,387.50
7520794 BANQUE CANTONALE VAUDOIS-REG CH BCVN SW 120 $97,133.39
758849103 REGENCY CENTERS CORP US REG 839 $49,484.22
75886F107 REGENERON PHARMACEUTICALS INC US REGN 15,115 $5,205,001.40
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 835 $24,039.65
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 130,000 $134,551.30
7759435 ILIAD SA FR ILD FP 860 $178,041.15
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,635 $172,671.55
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 560 $68,796.00
78410G104 SBA COMMUNICATIONS CORP US SBAC 31,255 $5,342,104.60
78442FET1 SLM CORP 6.12500 03/25/2024 US 70,000 $69,737.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 90,000 $90,900.00
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 180,000 $196,739.96
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 470,000 $459,098.33
806857108 SCHLUMBERGER LTD NL SLB 86,841 $5,625,559.98
808513105 CHARLES SCHWAB CORP/THE US SCHW 111,550 $5,825,141.00
81211K100 SEALED AIR CORP US SEE 108,330 $4,635,440.70
812578102 SEATTLE GENETICS INC US SGEN 69,545 $3,639,985.30
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 115,000 $109,825.00
81762P102 SERVICENOW INC US NOW 51,490 $8,519,020.50
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 70,000 $66,850.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 55,000 $55,137.50
828806109 SIMON PROPERTY GROUP INC US SPG 1,490 $229,981.50
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 65,000 $62,270.00
83088M102 SKYWORKS SOLUTIONS INC US SWKS 39,700 $3,980,322.00
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 240,000 $241,234.00
84265V105 SOUTHERN COPPER CORPORATION US SCCO 49,225 $2,667,010.50
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 95,000 $92,197.50
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 30,000 $30,937.50
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 30,000 $31,200.00
85208M102 SPROUTS FARMERS MARKET INC US SFM 122,685 $2,879,416.95
85254J102 STAG INDUSTRIAL INC US STAG 2,710 $64,823.20
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 60,000 $58,500.00
862121100 STORE CAPITAL CORP US STOR 1,785 $44,303.70
866674104 SUN COMMUNITIES US SUI 910 $83,146.70
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 2,970 $45,203.40
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 35,000 $36,181.25
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 90,000 $91,575.00
876664103 TAUBMAN CTRS INC US TCO 285 $16,219.35
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 70,000 $59,500.00
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 470,000 $452,694.37
88146M101 TERRENO REALTY CORP US TRNO 685 $23,639.35
882508104 TEXAS INSTRUMENTS INC US TXN 28,505 $2,961,384.45
883556102 THERMO FISHER SCIENTIFIC INC US TMO 11,295 $2,331,965.70
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 3,920 $79,732.80
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 105,000 $97,912.50
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 95,000 $97,850.00
902653104 UDR INC US UDR 2,585 $92,077.70
903002103 UMH PROPERTIES INC US UMH 2,440 $32,720.40
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 85,000 $82,025.00
90384S303 ULTA BEAUTY INC US ULTA 19,510 $3,985,307.70
904767704 UNILEVER PLC - ADR GB UL 96,246 $5,347,427.76
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,835,000 $2,490,008.98
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 3,050,000 $3,904,000.00
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,342,666.8 $1,307,533.83
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,100,000 $1,105,371.09
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,306,114.96 $1,301,029.18
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 13,019,000 $12,151,914.29
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,316,527.84 $1,294,606.94
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 5,430,000 $5,268,160.53
91704F104 URBAN EDGE PROPERTIES US UE 3,875 $82,731.25
92276F100 VENTAS INC US VTR 800 $39,624.00
92339V100 VEREIT INC US VER 5,330 $37,096.80
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 630,000 $698,121.20
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 11,035 $1,798,484.30
92826C839 VISA INC - CLASS A SHARES US V 52,480 $6,277,657.60
929042109 VORNADO REALTY TRUST US VNO 1,250 $84,125.00
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 90,000 $89,550.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 95,000 $93,812.50
95040Q104 WELLTOWER INC. US WELL 960 $52,252.80
962166104 WEYERHAEUSER CO US WY 129,189 $4,521,615.00
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 65,000 $65,162.50
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 60,000 $60,882.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 290,000 $277,250.75
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 65,000 $66,950.00
984245100 YPF S.A.-SPONSORED ADR AR YPF 3,745 $80,966.90
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 166,460 $5,686,273.60
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 8,400 $131,389.54
B037JC2 NEXITY FR NXI FP 2,680 $171,642.41
B0386J1 JYSKE BANK-REG DK JYSK DC 1,560 $92,748.87
B06JSP1 SYDBANK A/S DK SYDB DC 2,215 $81,820.41
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 8,290 $85,751.26
B11ZRK9 LEGRAND SA FR LR FP 1,755 $137,698.67
B138HB7 KAUFMAN & BROAD SA FR KOF FP 2,690 $141,560.92
B13X013 EIFFAGE FR FGR FP 1,565 $178,240.01
B15C557 TOTAL SA FR FP FP 2,440 $139,860.18
B1FRH89 M DIAS BRANCO SA BR MDIA3 BZ 5,800 $89,597.00
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 9,355 $176,423.36
B1HDJL2 NATIXIS FR KN FP 19,690 $161,562.59
B1HKSV6 BANCA GENERALI SPA IT BGN IM 4,115 $132,765.12
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $51,688.12
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 7,340 $87,152.01
B1WGG93 GEBERIT AG-REG CH GEBN SW 310 $137,088.93
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 2,175 $129,823.52
B1XH026 VINCI SA FR DG FP 43,270 $4,261,887.57
B1Y9TB3 DANONE FR BN FP 2,148 $174,164.92
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 37,000 $188,877.94
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 765 $174,744.23
B232R05 SK INNOVATION CO LTD KR 096770 KS 490 $97,391.76
B283W97 CAIXABANK S.A ES CABK SM 676,120 $3,223,512.81
B2B0DG9 RELX PLC GB REL LN 5,810 $119,347.81
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 11,900 $129,941.39
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,565 $88,575.97
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 252,000 $194,614.97
B4R2R50 JULIUS BAER CH BAER SW 2,015 $124,006.11
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 528,000 $198,809.33
B4X4D29 FLEURY SA BR FLRY3 BZ 14,890 $122,766.00
B4YVF56 BRENNTAG AG DE BNR GR 2,425 $144,365.57
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 9,457 $123,557.89
B63QM77 NEXON CO LTD JP 3659 JP 12,000 $203,444.25
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 5,240 $118,610.07
B7VQL46 FNAC DARTY SA FR FNAC FP 730 $78,123.20
BB22L96 KION GROUP AG DE KGX GR 2,505 $233,868.76
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 5,280 $104,377.89
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 24,585 $43,681.93
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 5,300 $97,332.69
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 108,000 $107,513.33
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 79,446 $4,264,627.09
BNBNSG0 EURONEXT NV NL ENX FP 3,295 $241,520.24
BNGN9Z1 FINECOBANK SPA IT FBK IM 270,515 $3,255,997.24
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 1,050 $21,365.66
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 106,955 $3,362,524.46
BVRZ8L1 AENA SA ES AENA SM 1,695 $341,786.07
BVSS790 ELIS SA FR ELIS FP 3,355 $83,072.80
BYXS699 QIAGEN N.V. NL QIA GR 4,183 $135,229.62
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 2,010 $73,411.11
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 67,493 $7,420,645.12
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 131,355 $124,903.54
BYZFYS3 SPIE SA FR SPIE FP 6,825 $151,012.72
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 20,560 $125,239.21
BYZR014 AMUNDI SA FR AMUN FP 2,560 $205,586.81
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 3,000 $192,723.64
BZ3C3Q4 BANKIA SA ES BKIA SM 445,678 $1,999,293.93
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 236,850 $79,420.57
G02602103 AMDOCS LTD GG DOX 64,233 $4,285,625.76
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 60,882 $3,282,757.44
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 93,145 $2,812,047.55
G3157S106 ENSCO INTERNATIONAL INC US ESV 158,785 $697,066.15
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 70,000 $72,625.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 3,950 $97,644.00
G57279104 LUXOFT HOLDING INC CH LXFT 870 $35,626.50
G5960L103 MEDTRONIC INC IE MDT 112,535 $9,027,557.70
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 108,740 $4,166,916.80
G97822103 PERRIGO CO PLC IE PRGO 83,975 $6,998,476.50
H8817H100 TRANSOCEAN LTD US RIG 222,635 $2,204,086.50
N47279109 INTERXION HOLDING NX NL INXN 1,900 $118,009.00
N72482123 QIAGEN N.V. ADR NL QGEN 155,316 $5,018,259.96
USD US DOLLAR US 3,283,260.97 $3,283,260.97

Investments will change over time.

Daily Price

$37.02

Daily $ Change

-$0.30

Daily % Change

-0.81%

as of 04/19/2018

CUSIP

563821115

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 long-term capital growth.

Investment Strategy

The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in fixed income securities.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek long-term capital growth and generally have the time to withstand market volatility
  • Who have a very high capital risk tolerance

About 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Annualized Performance

As of 03/31/2018

YTD

0.80%

1 Year

15.37%

3 Year

7.37%

5 Year

8.66%

10 Year

7.12%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

7.43%

Returns are net of Pro-Mix® CIT Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.90%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 3.96%
QORVO INC 2.24%
BOOKING HOLDINGS INC 2.14%
MEDTRONIC INC 2.05%
SERVICENOW INC 1.93%
FACEBOOK INC -A 1.77%
TREASURY BONDS 1.70%
ANHEUSER-BUSCH INBEV SA/NV 1.68%
O'REILLY AUTOMOTIVE INC 1.63%
PERRIGO CO PLC 1.59%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Stocks
88.63%
Bonds
10.63%
Cash
0.74%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities
31.61%
Small Capitalization
1.33%
Mid Capitalization
11.44%
Large Capitalization
44.25%
Long Term Fixed Income
2.81%
Intermediate Term Fixed Income
7.04%
Short Term Fixed Income
0.78%
Cash
0.74%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 75,000 $74,062.50
00206REM0 AT&T INC 3.90000 08/14/2027 US 460,000 $463,166.89
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 250,000 $258,125.00
004239109 ACADIA REALTY TRUST US AKR 1,105 $27,183.00
0045614 ANTOFAGASTA PLC GB ANTO LN 88,875 $1,149,049.66
0053673 ASHTEAD GROUP PLC GB AHT LN 6,720 $183,232.06
00724F101 ADOBE SYS INC US ADBE 29,905 $6,461,872.40
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 127,980 $2,851,394.40
008492100 AGREE REALTY CORP US ADC 505 $24,260.20
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 35,000 $36,400.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 117,000 $126,506.25
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 480 $59,947.20
01609W102 ALIBABA GROUP - ADR CN BABA 34,935 $6,411,969.90
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 720,000 $683,355.59
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 70,000 $71,050.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,068.75
02079K107 ALPHABET INC-CL C US GOOG 2,230 $2,300,891.70
02079K305 ALPHABET INC-CL A US GOOGL 2,210 $2,292,079.40
023135106 AMAZON.COM INC US AMZN 2,780 $4,023,605.20
02319V103 AMBEV SA-ADR BR ABEV 927,720 $6,744,524.40
0237400 DIAGEO PLC GB DGE LN 179,095 $6,056,927.27
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,430 $55,226.60
0263494 BAE SYSTEMS PLC GB BA/ LN 8,955 $73,266.89
02665T306 AMERICAN HOMES 4 RENT- A US AMH 4,090 $82,127.20
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 470,000 $460,568.46
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 290,000 $294,276.11
03027X100 AMERICAN TOWER REIT INC US AMT 36,010 $5,233,693.40
03064D108 AMERICOLD REALTY TRUST US COLD 1,275 $24,327.00
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 470,000 $450,731.59
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,715 $69,886.25
0405207 HALMA PLC GB HLMA LN 5,275 $87,318.18
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 460,000 $490,361.65
0490656 KERRY GROUP PLC-A IE KYGA LN 1,695 $171,333.26
053332102 AUTOZONE INC US AZO 6,230 $4,041,338.70
053484101 AVALONBAY COMMUNITIES INC US AVB 1,045 $171,860.70
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 3,620 $125,795.00
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 11,605 $75,117.66
058498106 BALL CORP US BLL 119,280 $4,736,608.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 290,000 $289,429.51
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 74,250 $6,019,447.50
09062X103 BIOGEN IDEC INC US BIIB 14,300 $3,915,626.00
09247X101 BLACKROCK INC US BLK 7,850 $4,252,502.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 11,895 $333,435.49
09627J102 BLUEROCK RESIDENTIAL GROWTH US 2,170 $18,445.00
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 630,000 $675,153.16
09857L108 BOOKING HOLDINGS INC US BKNG 4,525 $9,413,764.75
101121101 BOSTON PROPERTIES INC US BXP 905 $111,514.10
105368203 BRANDYWINE REALTY TRUST US BDN 2,760 $43,828.80
110122108 BRISTOL MYERS SQUIBB CO US BMY 30,715 $1,942,723.75
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,610 $150,570.90
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 135,000 $127,219.95
12508E101 CDK GLOBAL INC US CDK 42,715 $2,705,568.10
125269100 CF INDUSTRIES HOLDINGS INC US CF 54,190 $2,044,588.70
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 130,000 $123,662.50
13321L108 CAMECO CORP CA CCJ 7,287 $66,238.83
134429109 CAMPBELL SOUP CO US CPB 116,410 $5,041,717.10
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 6,325 $78,872.75
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 125,000 $119,062.50
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 55,000 $54,243.75
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 75,000 $82,968.75
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,925 $53,534.25
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 460,000 $696,580.30
191216100 COCA COLA CO/THE US KO 100,335 $4,357,549.05
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 35,000 $35,087.50
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 5,232 $29,403.84
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,370 $28,030.20
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,070 $79,021.80
21871N101 CORECIVIC INC US CXW 3,835 $74,859.20
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 400,000 $458,504.10
222795106 COUSINS PROPERTIES INC US CUZ 13,255 $115,053.40
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 65,000 $63,375.00
22822V101 CROWN CASTLE INTL CORP US CCI 620 $67,958.20
229663109 CUBESMART US CUBE 1,825 $51,465.00
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 35,000 $36,925.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 71,435 $1,003,034.23
23918K108 DAVITA INC. US DVA 99,160 $6,538,610.40
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 95,000 $91,822.25
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 28,000 $85,694.17
25271C102 DIAMOND OFFSHORE DRILLING US DO 96,110 $1,408,972.60
253393102 DICK'S SPORTING GOODS INC US DKS 130,395 $4,570,344.75
253868103 DIGITAL REALTY TRUST INC US DLR 1,295 $136,467.10
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 61,410 $204,531.11
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 130,000 $130,650.00
269246401 ETRADE FINANCIAL CORP US ETFC 85,500 $4,737,555.00
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 200,000 $194,691.47
2715777 QUEBECOR INC -CL B CA QBR/B CN 87,800 $1,678,514.38
277276101 EASTGROUP PROPERTIES US EGP 220 $18,185.20
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 83,920 $1,616,714.71
28140H203 EDUCATION REALTY TRUST INC US EDR 548 $17,947.00
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 370,000 $372,577.62
285512109 ELECTRONIC ARTS US EA 37,180 $4,507,703.20
2866857 LUNDIN MINING CORP CA LUN CN 168,550 $1,105,481.82
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 200,000 $191,715.49
294429105 EQUIFAX INC US EFX 25,245 $2,974,113.45
29444U700 EQUINIX INC US EQIX 565 $236,249.10
294628102 EQUITY COMMONWEALTH US EQC 1,230 $37,724.10
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 665 $58,367.05
29476L107 EQUITY RESIDENTIAL US EQR 1,370 $84,419.40
297178105 ESSEX PROPERTY TRUST INC US ESS 235 $56,559.80
298736109 EURONET WORLDWIDE INC US EEFT 33,200 $2,620,144.00
30225T102 EXTRA SPACE STORAGE INC US EXR 955 $83,428.80
30303M102 FACEBOOK INC -A US FB 48,780 $7,794,556.20
31428X106 FEDEX CORPORATION US FDX 19,285 $4,630,521.35
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,740 $80,090.20
345605109 FOREST CITY REALTY TRUST - A US FCE/A 2,045 $41,431.70
35671D857 FREEPORT-MCMORAN INC US FCX 187,855 $3,300,612.35
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 40,000 $40,600.42
36174X101 GGP INC US GGP 2,795 $57,185.70
371559105 GENESEE & WYOMING INC -CL A US GWR 41,660 $2,949,111.40
374297109 GETTY REALTY CORP US GTY 1,870 $47,161.40
37950E366 GLOBAL X MSCI GREECE ETF GR 12,945 $125,566.50
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 135,000 $135,540.00
37954A204 GLOBAL MEDICAL REIT INC US GMRE 3,115 $21,649.25
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 65,000 $64,837.50
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 1,375 $90,420.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 540 $53,805.60
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 2,780 $84,345.20
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 30,000 $31,500.00
40414L109 HCP INC US HCP 3,710 $86,183.30
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 60,000 $58,200.00
4116099 BPER BANCA IT BPE IM 17,905 $99,840.73
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,900 $50,255.00
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 70,000 $69,300.00
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 90,000 $89,212.50
44107P104 HOST MARRIOTT CORP US HST 2,390 $44,549.60
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 130,000 $127,400.00
4457624 TRIGANO SA FR TRI FP 765 $138,466.80
4497749 KBC GROEP NV BE KBC BB 1,905 $165,885.52
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 100,000 $96,750.00
45337C102 INCYTE CORP US INCY 61,750 $5,145,627.50
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,480 $31,946.40
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 130,000 $126,425.00
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 65,000 $67,231.00
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 250,000 $235,793.25
46120E602 INTUITIVE SURGICAL INC US ISRG 7,145 $2,949,670.35
46187W107 INVITATION HOMES INC US INVH 3,037 $69,334.71
464286608 ISHARES MSCI EMU XX 5,920 $256,632.00
464286780 ISHARES MSCI SOUTH AFRICA ET ZA 2,375 $163,162.50
46434G798 ISHARES MSCI RUSSIA CAPPED E RU 2,640 $96,201.60
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 660,000 $684,802.80
478160104 JOHNSON & JOHNSON US JNJ 43,440 $5,566,836.00
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 125,000 $112,500.00
4813345 SKANDINAVISKA ENSKILDA BAN-A SE SEBA SS 7,610 $79,953.00
4821100 SOLVAY SA BE SOLB BB 1,435 $199,436.00
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 570,000 $687,146.43
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 105,000 $107,100.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $83,912.00
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 100,000 $101,746.00
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512816109 LAMAR ADVERTISING CO US LAMR 630 $40,105.80
5129074 FRESENIUS MEDICAL DE FME GR 41,849 $4,274,158.02
517942108 LASALLE HOTEL PROPERTIES US LHO 1,145 $33,216.45
5228658 RANDSTAD HOLDING NV NL RAND NA 2,880 $189,677.05
5263574 FLSMIDTH & CO A/S DK FLS DC 1,105 $71,444.27
5289837 ERSTE GROUP BANK AG AT EBS AV 2,065 $103,814.55
53223X107 LIFE STORAGE INC US LSI 290 $24,220.80
5330047 DASSAULT SYSTEMES SA FR DSY FP 1,080 $146,873.06
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554382101 THE MACERICH CO US MAC 550 $30,811.00
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559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 270,000 $278,136.57
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 105,000 $101,062.50
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57636Q104 MASTERCARD INC-CLASS A US MA 38,075 $6,669,217.00
5852842 ACCOR SA FR AC FP 2,302 $124,365.35
58933Y105 MERCK & CO INC US MRK 33,435 $1,821,204.45
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 70,000 $66,150.00
594918104 MICROSOFT CORP US MSFT 64,275 $5,866,379.25
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,020 $93,064.80
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 67,990 $2,837,222.70
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 280,000 $292,799.25
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 670,000 $680,746.80
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 140,000 $139,825.00
6250724 DAIKIN INDUSTRIES LTD JP 6367 JP 1,100 $122,202.46
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 120,000 $106,449.97
6356934 FANUC LTD JP 6954 JP 807 $207,684.01
637417106 NATIONAL RETAIL PROPERTIES US NNN 870 $34,156.20
64110W102 NETEASE.COM INC- ADR CN NTES 380 $106,548.20
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 29,000 $211,224.61
6490995 KEYENCE CORP JP 6861 JP 600 $374,794.87
654106103 NIKE INC CLASS B US NKE 63,300 $4,205,652.00
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 126,000 $177,909.27
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 165,000 $168,300.00
66987V109 NOVARTIS AG- REG CH NVS 74,635 $6,034,239.75
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 29,020 $7,178,967.60
680665205 OLIN CORP US OLN 99,105 $3,011,800.95
6865504 SUZUKI MOTOR CORP JP 7269 JP 2,300 $124,874.71
69007J106 OUTFRONT MEDIA INC US OUT 1,765 $33,076.10
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 110,000 $112,475.00
697660207 PAMPA ENERGIA SA AR PAM 1,395 $83,142.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 85,000 $80,537.50
7110902 TECAN GROUP AG-REG CH TECN SW 435 $92,125.10
7123870 NESTLE SA-REGISTERED CH NESN SW 53,730 $4,246,901.31
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 200,000 $201,102.13
7147892 TEMENOS GROUP AG-REG CH TEMN SW 700 $83,936.51
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 710,000 $686,037.50
71943U104 PHYSICIANS REALTY TRUST US DOC 5,025 $78,239.25
7262610 CREDIT AGRICOLE SA FR ACA FP 9,935 $161,990.46
729640102 PLYMOUTH INDUSTRIAL REIT INC US 685 $11,768.30
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 125,000 $127,500.00
7339451 ORPEA SA FR ORP FP 1,085 $137,782.17
7380062 AAREAL BANK AG DE ARL GR 3,715 $177,228.32
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 4,885 $257,952.82
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 380,000 $373,314.16
74340W103 PROLOGIS US PLD 3,230 $203,457.70
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 430,000 $452,575.00
74460D109 PUBLIC STORAGE INC US PSA 580 $116,226.20
74736K101 QORVO INC US QRVO 139,750 $9,845,387.50
7520794 BANQUE CANTONALE VAUDOIS-REG CH BCVN SW 120 $97,133.39
758849103 REGENCY CENTERS CORP US REG 839 $49,484.22
75886F107 REGENERON PHARMACEUTICALS INC US REGN 15,115 $5,205,001.40
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 835 $24,039.65
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 130,000 $134,551.30
7759435 ILIAD SA FR ILD FP 860 $178,041.15
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,635 $172,671.55
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 560 $68,796.00
78410G104 SBA COMMUNICATIONS CORP US SBAC 31,255 $5,342,104.60
78442FET1 SLM CORP 6.12500 03/25/2024 US 70,000 $69,737.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 90,000 $90,900.00
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 180,000 $196,739.96
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 470,000 $459,098.33
806857108 SCHLUMBERGER LTD NL SLB 86,841 $5,625,559.98
808513105 CHARLES SCHWAB CORP/THE US SCHW 111,550 $5,825,141.00
81211K100 SEALED AIR CORP US SEE 108,330 $4,635,440.70
812578102 SEATTLE GENETICS INC US SGEN 69,545 $3,639,985.30
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 115,000 $109,825.00
81762P102 SERVICENOW INC US NOW 51,490 $8,519,020.50
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 70,000 $66,850.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 55,000 $55,137.50
828806109 SIMON PROPERTY GROUP INC US SPG 1,490 $229,981.50
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 65,000 $62,270.00
83088M102 SKYWORKS SOLUTIONS INC US SWKS 39,700 $3,980,322.00
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 240,000 $241,234.00
84265V105 SOUTHERN COPPER CORPORATION US SCCO 49,225 $2,667,010.50
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 95,000 $92,197.50
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 30,000 $30,937.50
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 30,000 $31,200.00
85208M102 SPROUTS FARMERS MARKET INC US SFM 122,685 $2,879,416.95
85254J102 STAG INDUSTRIAL INC US STAG 2,710 $64,823.20
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 60,000 $58,500.00
862121100 STORE CAPITAL CORP US STOR 1,785 $44,303.70
866674104 SUN COMMUNITIES US SUI 910 $83,146.70
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 2,970 $45,203.40
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 35,000 $36,181.25
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 90,000 $91,575.00
876664103 TAUBMAN CTRS INC US TCO 285 $16,219.35
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 70,000 $59,500.00
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 470,000 $452,694.37
88146M101 TERRENO REALTY CORP US TRNO 685 $23,639.35
882508104 TEXAS INSTRUMENTS INC US TXN 28,505 $2,961,384.45
883556102 THERMO FISHER SCIENTIFIC INC US TMO 11,295 $2,331,965.70
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 3,920 $79,732.80
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 105,000 $97,912.50
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 95,000 $97,850.00
902653104 UDR INC US UDR 2,585 $92,077.70
903002103 UMH PROPERTIES INC US UMH 2,440 $32,720.40
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 85,000 $82,025.00
90384S303 ULTA BEAUTY INC US ULTA 19,510 $3,985,307.70
904767704 UNILEVER PLC - ADR GB UL 96,246 $5,347,427.76
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,835,000 $2,490,008.98
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 3,050,000 $3,904,000.00
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,342,666.8 $1,307,533.83
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,100,000 $1,105,371.09
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,306,114.96 $1,301,029.18
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 13,019,000 $12,151,914.29
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,316,527.84 $1,294,606.94
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 5,430,000 $5,268,160.53
91704F104 URBAN EDGE PROPERTIES US UE 3,875 $82,731.25
92276F100 VENTAS INC US VTR 800 $39,624.00
92339V100 VEREIT INC US VER 5,330 $37,096.80
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 630,000 $698,121.20
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 11,035 $1,798,484.30
92826C839 VISA INC - CLASS A SHARES US V 52,480 $6,277,657.60
929042109 VORNADO REALTY TRUST US VNO 1,250 $84,125.00
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 90,000 $89,550.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 95,000 $93,812.50
95040Q104 WELLTOWER INC. US WELL 960 $52,252.80
962166104 WEYERHAEUSER CO US WY 129,189 $4,521,615.00
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 65,000 $65,162.50
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 60,000 $60,882.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 290,000 $277,250.75
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 65,000 $66,950.00
984245100 YPF S.A.-SPONSORED ADR AR YPF 3,745 $80,966.90
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 166,460 $5,686,273.60
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 8,400 $131,389.54
B037JC2 NEXITY FR NXI FP 2,680 $171,642.41
B0386J1 JYSKE BANK-REG DK JYSK DC 1,560 $92,748.87
B06JSP1 SYDBANK A/S DK SYDB DC 2,215 $81,820.41
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 8,290 $85,751.26
B11ZRK9 LEGRAND SA FR LR FP 1,755 $137,698.67
B138HB7 KAUFMAN & BROAD SA FR KOF FP 2,690 $141,560.92
B13X013 EIFFAGE FR FGR FP 1,565 $178,240.01
B15C557 TOTAL SA FR FP FP 2,440 $139,860.18
B1FRH89 M DIAS BRANCO SA BR MDIA3 BZ 5,800 $89,597.00
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 9,355 $176,423.36
B1HDJL2 NATIXIS FR KN FP 19,690 $161,562.59
B1HKSV6 BANCA GENERALI SPA IT BGN IM 4,115 $132,765.12
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $51,688.12
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 7,340 $87,152.01
B1WGG93 GEBERIT AG-REG CH GEBN SW 310 $137,088.93
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 2,175 $129,823.52
B1XH026 VINCI SA FR DG FP 43,270 $4,261,887.57
B1Y9TB3 DANONE FR BN FP 2,148 $174,164.92
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 37,000 $188,877.94
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 765 $174,744.23
B232R05 SK INNOVATION CO LTD KR 096770 KS 490 $97,391.76
B283W97 CAIXABANK S.A ES CABK SM 676,120 $3,223,512.81
B2B0DG9 RELX PLC GB REL LN 5,810 $119,347.81
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 11,900 $129,941.39
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,565 $88,575.97
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 252,000 $194,614.97
B4R2R50 JULIUS BAER CH BAER SW 2,015 $124,006.11
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 528,000 $198,809.33
B4X4D29 FLEURY SA BR FLRY3 BZ 14,890 $122,766.00
B4YVF56 BRENNTAG AG DE BNR GR 2,425 $144,365.57
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 9,457 $123,557.89
B63QM77 NEXON CO LTD JP 3659 JP 12,000 $203,444.25
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 5,240 $118,610.07
B7VQL46 FNAC DARTY SA FR FNAC FP 730 $78,123.20
BB22L96 KION GROUP AG DE KGX GR 2,505 $233,868.76
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 5,280 $104,377.89
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 24,585 $43,681.93
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 5,300 $97,332.69
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 108,000 $107,513.33
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 79,446 $4,264,627.09
BNBNSG0 EURONEXT NV NL ENX FP 3,295 $241,520.24
BNGN9Z1 FINECOBANK SPA IT FBK IM 270,515 $3,255,997.24
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 1,050 $21,365.66
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 106,955 $3,362,524.46
BVRZ8L1 AENA SA ES AENA SM 1,695 $341,786.07
BVSS790 ELIS SA FR ELIS FP 3,355 $83,072.80
BYXS699 QIAGEN N.V. NL QIA GR 4,183 $135,229.62
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 2,010 $73,411.11
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 67,493 $7,420,645.12
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 131,355 $124,903.54
BYZFYS3 SPIE SA FR SPIE FP 6,825 $151,012.72
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 20,560 $125,239.21
BYZR014 AMUNDI SA FR AMUN FP 2,560 $205,586.81
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 3,000 $192,723.64
BZ3C3Q4 BANKIA SA ES BKIA SM 445,678 $1,999,293.93
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 236,850 $79,420.57
G02602103 AMDOCS LTD GG DOX 64,233 $4,285,625.76
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 60,882 $3,282,757.44
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 93,145 $2,812,047.55
G3157S106 ENSCO INTERNATIONAL INC US ESV 158,785 $697,066.15
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 70,000 $72,625.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 3,950 $97,644.00
G57279104 LUXOFT HOLDING INC CH LXFT 870 $35,626.50
G5960L103 MEDTRONIC INC IE MDT 112,535 $9,027,557.70
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 108,740 $4,166,916.80
G97822103 PERRIGO CO PLC IE PRGO 83,975 $6,998,476.50
H8817H100 TRANSOCEAN LTD US RIG 222,635 $2,204,086.50
N47279109 INTERXION HOLDING NX NL INXN 1,900 $118,009.00
N72482123 QIAGEN N.V. ADR NL QGEN 155,316 $5,018,259.96
USD US DOLLAR US 3,283,260.97 $3,283,260.97

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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