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

$36.91

Daily $ Change

-$0.52

Daily % Change

-1.41%

as of 10/18/2018

CUSIP

563821115

Inception Date

01/01/2000

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Applications & Forms

Performance

As of 09/30/2018

YTD

7.14%

1 Year

12.55%

3 Year

13.35%

5 Year

8.38%

10 Year

8.43%

Inception
(01/01/2000)

7.42%

US Stock Market Cycle (04/01/2000 - 09/30/2018)

7.58%

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 0.90%
Net 0.90%*

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

Top Ten Investments

As of 09/30/2018

TREASURY NOTES 7.00%
INCYTE CORP 2.16%
LULULEMON - ADR 2.08%
MASTERCARD INC-CLASS A 1.87%
MEDTRONIC INC 1.86%
BOOKING HOLDINGS INC 1.76%
QORVO INC 1.70%
VISA INC - CLASS A SHARES 1.65%
MICROSOFT CORP 1.60%
NOVARTIS AG- REG 1.49%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 09/30/2018

Stocks 85.70%
Bonds 14.13%
Cash 0.17%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities 29.29%
Small Capitalization 1.47%
Mid Capitalization 8.65%
Large Capitalization 46.30%
Long Term Fixed Income 2.59%
Intermediate Term Fixed Income 8.83%
Short Term Fixed Income 2.70%
Cash 0.17%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 50,000 $50,750.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 460,000 $454,057.91
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 75,000 $76,500.00
004239109 ACADIA REALTY TRUST US AKR 1,105 $30,973.15
0045614 ANTOFAGASTA PLC GB ANTO LN 107,125 $1,190,417.59
0053673 ASHTEAD GROUP PLC GB AHT LN 3,035 $96,295.85
00724F101 ADOBE SYS INC US ADBE 18,360 $4,956,282.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 460,000 $455,154.30
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 157,945 $4,277,150.60
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 5,605 $41,392.91
008492100 AGREE REALTY CORP US ADC 505 $26,825.60
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 35,000 $36,099.06
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 205 $25,786.95
01609W102 ALIBABA GROUP - ADR CN BABA 37,245 $6,136,486.20
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 730,000 $680,429.01
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 70,000 $70,700.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,000.00
02079K107 ALPHABET INC-CL C US GOOG 3,310 $3,950,385.70
02079K305 ALPHABET INC-CL A US GOOGL 3,275 $3,953,187.00
02209S103 ALTRIA GROUP INC US MO 46,845 $2,825,221.95
023135106 AMAZON.COM INC US AMZN 2,715 $5,438,145.00
02319V103 AMBEV SA-ADR BR ABEV 868,760 $3,970,233.20
0237400 DIAGEO PLC GB DGE LN 99,860 $3,537,868.43
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,275 $52,479.00
0263494 BAE SYSTEMS PLC GB BA/ LN 18,285 $149,937.29
02665T306 AMERICAN HOMES 4 RENT- A US AMH 4,835 $105,838.15
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 470,000 $449,642.51
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 85,000 $85,000.00
03027X100 AMERICAN TOWER REIT INC US AMT 36,010 $5,232,253.00
03064D108 AMERICOLD REALTY TRUST US COLD 905 $22,643.10
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,715 $75,682.95
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,465 $43,112.85
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 60,000 $58,725.00
0405207 HALMA PLC GB HLMA LN 5,005 $94,228.96
0490656 KERRY GROUP PLC-A IE KYGA LN 1,605 $177,124.14
053332102 AUTOZONE INC US AZO 7,555 $5,860,413.50
053484101 AVALONBAY COMMUNITIES INC US AVB 1,145 $207,416.75
058498106 BALL CORP US BLL 119,280 $5,247,127.20
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 690,000 $680,934.93
0822011 DS SMITH PLC GB SMDS LN 19,308 $120,268.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 54,050 $5,241,228.50
09062X103 BIOGEN IDEC INC US BIIB 6,185 $2,185,222.35
0922320 SMITH & NEPHEW PLC GB SN/ LN 4,500 $82,101.39
09247X101 BLACKROCK INC US BLK 12,290 $5,792,645.70
0946580 WEIR GROUP PLC/THE GB WEIR LN 8,795 $201,774.51
09627J102 BLUEROCK RESIDENTIAL GROWTH US 2,170 $21,266.00
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 640,000 $677,300.81
09857L108 BOOKING HOLDINGS INC US BKNG 4,070 $8,074,880.00
101121101 BOSTON PROPERTIES INC US BXP 1,170 $144,015.30
105368203 BRANDYWINE REALTY TRUST US BDN 6,315 $99,271.80
110122108 BRISTOL MYERS SQUIBB CO US BMY 30,715 $1,906,787.20
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,930 $136,625.90
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 60,000 $59,400.00
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 80,000 $79,100.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 10,150 $973,994.00
125269100 CF INDUSTRIES HOLDINGS INC US CF 98,520 $5,363,428.80
12572Q105 CME GROUP INC US CME 6,260 $1,065,514.60
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 450,000 $450,585.00
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 130,000 $127,075.00
13321L108 CAMECO CORP CA CCJ 7,287 $83,071.80
134429109 CAMPBELL SOUP CO US CPB 97,960 $3,588,274.80
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 3,020 $34,518.60
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 125,000 $116,287.50
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 55,000 $57,681.25
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 90,000 $90,110.70
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,270 $40,728.90
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 470,000 $678,428.77
191216100 COCA COLA CO/THE US KO 120,430 $5,562,661.70
194162103 COLGATE-PALMOLIVE CO US CL 46,205 $3,093,424.75
19626G108 COLONY CAPITAL INC US CLNY 5,232 $31,862.88
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,620 $50,187.60
2162760 CAE INC CA CAE CN 2,105 $42,730.69
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 3,700 $120,884.14
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 535 $48,005.65
21871N101 CORECIVIC INC US CXW 2,900 $70,557.00
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 300,000 $331,916.88
222795106 COUSINS PROPERTIES INC US CUZ 11,000 $97,790.00
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 65,000 $63,505.00
22822V101 CROWN CASTLE INTL CORP US CCI 690 $76,817.70
228368106 CROWN HOLDINGS INC US CCK 35,555 $1,706,640.00
229663109 CUBESMART US CUBE 1,265 $36,090.45
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 50,000 $51,125.00
23331A109 DR HORTON INC US DHI 285 $12,021.30
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 90,990 $1,036,242.71
23918K108 DAVITA INC. US DVA 51,300 $3,674,619.00
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 95,000 $90,606.25
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 20,865 $44,396.94
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 41,260 $141,259.39
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 51,300 $91,009.94
25271C102 DIAMOND OFFSHORE DRILLING US DO 80,340 $1,606,800.00
253393102 DICK'S SPORTING GOODS INC US DKS 130,395 $4,626,414.60
253868103 DIGITAL REALTY TRUST INC US DLR 1,295 $145,661.60
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 470,000 $459,536.17
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 100,000 $101,250.00
2639349 GRUPO AEROPORT DEL SURESTE-B MX 4,045 $82,655.12
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 14,500 $41,731.86
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 130,000 $130,650.00
269246401 ETRADE FINANCIAL CORP US ETFC 85,210 $4,464,151.90
2715777 QUEBECOR INC -CL B CA QBR/B CN 157,735 $3,162,881.97
277276101 EASTGROUP PROPERTIES US EGP 220 $21,036.40
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 150,860 $2,939,764.02
285512109 ELECTRONIC ARTS US EA 40,365 $4,863,578.85
2866857 LUNDIN MINING CORP CA LUN CN 215,195 $1,139,576.36
294429105 EQUIFAX INC US EFX 17,415 $2,273,876.55
29444U700 EQUINIX INC US EQIX 7,800 $3,376,542.00
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 565 $54,494.25
29476L107 EQUITY RESIDENTIAL US EQR 2,125 $140,802.50
297178105 ESSEX PROPERTY TRUST INC US ESS 235 $57,976.85
30225T102 EXTRA SPACE STORAGE INC US EXR 555 $48,085.20
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 100,000 $102,000.00
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 220,000 $232,821.26
31428X106 FEDEX CORPORATION US FDX 19,285 $4,643,635.15
3174300 BURBERRY GROUP PLC GB BRBY LN 3,295 $86,524.82
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,255 $39,407.00
3208986 NEXT PLC GB NXT LN 560 $40,077.24
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 65,000 $60,775.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 80,000 $79,436.00
35671D857 FREEPORT-MCMORAN INC US FCX 254,965 $3,549,112.80
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 420,000 $428,304.09
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 450,000 $449,830.35
371559105 GENESEE & WYOMING INC -CL A US GWR 38,535 $3,506,299.65
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 65,000 $61,425.00
374297109 GETTY REALTY CORP US GTY 1,530 $43,696.80
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 135,000 $134,325.00
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 65,000 $63,375.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,125 $122,827.50
404121AH8 HCA INC 5.37500 09/01/2026 US 75,000 $75,750.00
40414L109 HCP INC US HCP 2,890 $76,064.80
4057808 L'OREAL FR OR FP 370 $89,202.19
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 130 $45,938.19
4163437 CAP GEMINI FR CAP FP 340 $42,805.23
421946104 HEALTHCARE REALTY TRUST INC US HR 1,860 $54,423.60
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,900 $50,673.00
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 775 $43,247.23
44107P104 HOST MARRIOTT CORP US HST 5,035 $106,238.50
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 150,000 $146,250.00
4457624 TRIGANO SA FR TRI FP 1,370 $149,830.26
4497749 KBC GROEP NV BE KBC BB 1,130 $84,024.96
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 100,000 $98,500.00
45337C102 INCYTE CORP US INCY 143,760 $9,930,940.80
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,385 $35,644.05
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 130,000 $129,350.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 14,005 $1,048,834.45
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 505,000 $514,822.32
46120E602 INTUITIVE SURGICAL INC US ISRG 7,755 $4,451,370.00
46187W107 INVITATION HOMES INC US INVH 4,212 $96,496.92
464287739 ISHARES DJ US REAL ESTATE US 1,030 $82,420.60
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 660,000 $673,066.84
4741844 MERCK KGAA DE MRK GR 21,240 $2,194,529.78
476405105 JERNIGAN CAPITAL INC US JCAP 1,845 $35,590.05
478160104 JOHNSON & JOHNSON US JNJ 43,440 $6,002,104.80
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 125,000 $95,625.00
4800659 LUXOTTICA GROUP SPA IT LUX IM 690 $46,763.26
4821100 SOLVAY SA BE SOLB BB 1,435 $192,366.97
4824778 SGS SA-REG CH SGSN SW 20 $52,658.67
4846288 SAP AG DE SAP GR 385 $47,340.94
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 580,000 $703,063.72
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 70,000 $71,575.00
50187T106 LGI HOMES INC US LGIH 200 $9,488.00
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 90,000 $88,425.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $82,981.25
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 100,000 $104,750.00
5048566 SWEDISH MATCH AB SE SWMA SS 785 $40,125.53
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 55,000 $55,756.25
5107401 BEIERSDORF AG DE BEI GR 39,530 $4,455,950.49
512816109 LAMAR ADVERTISING CO US LAMR 460 $35,788.00
5228658 RANDSTAD HOLDING NV NL RAND NA 2,285 $121,960.86
5253973 HERMES INTERNATIONAL FR RMS FP 145 $96,065.94
526057104 LENNAR CORP US LEN 230 $10,738.70
5263574 FLSMIDTH & CO A/S DK FLS DC 890 $55,342.58
5289837 ERSTE GROUP BANK AG AT EBS AV 1,905 $79,089.40
529043101 LEXINGTON REALTY TRUST US LXP 4,620 $38,346.00
531172104 LIBERTY PROPERTY TRUST US LPT 2,075 $87,668.75
53223X107 LIFE STORAGE INC US LSI 280 $26,644.80
5458314 AKZO NOBEL NL AKZA NA 43,745 $4,092,049.53
5474008 BANKINTER S.A. ES BKT SM 13,095 $120,288.30
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 20 $37,872.64
550021109 LULULEMON - ADR CA LULU 58,992 $9,585,610.08
554382101 THE MACERICH CO US MAC 550 $30,409.50
5545670 JUNGHEINRICH AG DE JUN3 GR 2,250 $85,630.35
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 215,000 $231,271.94
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 105,000 $103,293.75
5633616 SOPRA STERIA GROUP FR SOP FP 1,255 $201,174.54
5669354 REPSOL SA ES REP SM 10,597.56 $210,968.96
5671519 WOLTERS KLUWER NL WKL NA 690 $43,014.52
5699373 WIENERBERGER AG AT WIE AV 3,300 $82,496.89
5713422 METSO OYJ FI METSO FH 3,970 $140,506.81
5727973 SIEMENS AG-REG DE SIE GR 1,330 $170,058.50
57636Q104 MASTERCARD INC-CLASS A US MA 38,555 $8,582,728.55
5852842 ACCOR SA FR AC FP 2,442 $125,450.03
58933Y105 MERCK & CO INC US MRK 35,320 $2,505,600.80
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 60,000 $55,350.00
594918104 MICROSOFT CORP US MSFT 64,275 $7,351,131.75
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,035 $103,686.30
5980613 GIVAUDAN - REG CH GIVN SW 15 $36,908.76
5999330 TELEPERFORMANCE FR TEP FP 210 $39,617.50
6054603 ASAHI KASEI CORP JP 3407 JP 2,700 $40,937.68
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 93,945 $4,035,877.20
6125286 TREND MICRO INC JP 4704 JP 1,300 $83,620.89
6129277 NTT DOCOMO INC JP 9437 JP 3,000 $80,632.71
6136749 OBIC CO LTD JP 4684 JP 800 $75,665.38
6141680 ORACLE CORP JAPAN JP 4716 JP 1,100 $88,629.53
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 670,000 $680,894.43
6180412 COMPUTERSHARE LTD AU CPU AU 3,240 $46,659.95
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 1,300 $83,568.32
6198578 REA GROUP LTD AU REA AU 680 $42,189.01
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 140,000 $142,800.00
6248990 KDDI CORP JP 9433 JP 3,300 $91,036.27
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 95,000 $89,062.50
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 130,000 $130,617.44
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 60,000 $57,450.00
6308913 ELBIT SYSTEMS LTD IL ESLT IT 315 $40,025.88
6353418 FRUTAROM IL FRUT IT 460 $47,727.08
6356934 FANUC LTD JP 6954 JP 407 $76,570.03
637417106 NATIONAL RETAIL PROPERTIES US NNN 870 $38,993.40
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 1,800 $90,896.43
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 50,000 $53,000.00
64110W102 NETEASE.COM INC- ADR CN NTES 490 $111,842.50
6441506 HOYA CORP JP 7741 JP 700 $41,573.70
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 740 $89,693.59
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 955 $89,089.51
6467104 ISUZU MOTORS LTD JP 7202 JP 2,700 $42,564.25
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 1,845 $136,548.45
6482903 KANAMOTO CO LTD JP 9678 JP 2,300 $81,544.24
6483809 KAO CORP JP 4452 JP 500 $40,388.89
6490809 KIKKOMAN CORP JP 2801 JP 700 $41,689.67
6490995 KEYENCE CORP JP 6861 JP 4,300 $2,497,813.61
6518808 LION CORP JP 4912 JP 3,800 $84,396.61
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 44,000 $87,624.27
654106103 NIKE INC CLASS B US NKE 31,520 $2,670,374.40
6555805 MAKITA CORP JP 6586 JP 800 $40,060.93
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 1,600 $46,639.34
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 100,370.37 $86,658.61
6640507 NIPPON PAINT HOLDINGS CO LTD JP 4612 JP 1,100 $41,058.70
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 700 $36,974.36
6642387 YAMAHA CORP JP 7951 JP 2,400 $127,170.92
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 140,000 $143,150.00
66987V109 NOVARTIS AG- REG CH NVS 79,355 $6,837,226.80
67091GAA1 OCI NV 6.62500 04/15/2023 NL 90,000 $93,150.00
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 8,840 $3,070,308.80
6742340 SHANDONG WEIGAO CN 1066 HK 52,000 $51,314.25
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 4,600 $80,128.80
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 5,870 $42,746.83
6791591 SECOM CO LTD JP 9735 JP 500 $40,745.85
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 2,300 $42,414.38
680665205 OLIN CORP US OLN 110,780 $2,844,830.40
6865504 SUZUKI MOTOR CORP JP 7269 JP 2,000 $114,622.28
6883807 SYSMEX CORP JP 6869 JP 500 $43,116.72
6885074 TERUMO CORP JP 4543 JP 1,400 $82,857.70
69007J106 OUTFRONT MEDIA INC US OUT 1,415 $28,229.25
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 54,000 $95,686.01
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 85,000 $86,700.00
6948836 WESFARMERS LTD AU WES AU 1,170 $42,130.87
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 4,560 $127,209.95
6985383 ASTELLAS PHARMA INC JP 4503 JP 2,300 $40,164.84
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 1,900 $40,190.60
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 85,000 $82,981.25
7103065 NOVARTIS AG-REG CH NOVN SW 2,465 $212,183.41
7110902 TECAN GROUP AG-REG CH TECN SW 190 $44,978.81
7123870 NESTLE SA-REGISTERED CH NESN SW 57,280 $4,767,793.95
7145056 ENI SPA IT ENI IM 6,605 $124,501.36
7156036 SONOVA HOLDING AG-REG CH SOON SW 205 $40,685.95
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 370,000 $338,920.00
718172109 PHILIP MORRIS INTERNATIONAL US PM 38,275 $3,120,943.50
71943U104 PHYSICIANS REALTY TRUST US DOC 6,365 $107,313.90
7212477 ESSILORLUXOTTICA FR EL FP 645 $95,472.67
729640102 PLYMOUTH INDUSTRIAL REIT INC US 1,740 $26,970.00
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 85,000 $87,167.50
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 90,000 $91,114.20
7339451 ORPEA SA FR ORP FP 1,085 $140,364.82
7380062 AAREAL BANK AG DE ARL GR 1,980 $82,559.03
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 6,330 $272,829.03
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 700,000 $679,100.65
74340W103 PROLOGIS US PLD 3,055 $207,098.45
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 430,000 $454,725.00
74460D109 PUBLIC STORAGE INC US PSA 580 $116,945.40
74736K101 QORVO INC US QRVO 101,640 $7,815,099.60
758849103 REGENCY CENTERS CORP US REG 839 $54,258.13
75886F107 REGENERON PHARMACEUTICALS INC US REGN 7,610 $3,074,744.40
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 50,000 $51,375.00
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,570 $253,220.10
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 710 $68,188.40
78410G104 SBA COMMUNICATIONS CORP US SBAC 31,255 $5,020,490.65
78442PGC4 SLM CORP 5.12500 04/05/2022 US 75,000 $74,625.00
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 630,000 $680,398.67
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 450,000 $444,368.71
806857108 SCHLUMBERGER LTD NL SLB 87,041 $5,302,537.72
808513105 CHARLES SCHWAB CORP/THE US SCHW 117,975 $5,798,471.25
81211K100 SEALED AIR CORP US SEE 108,330 $4,349,449.50
812578102 SEATTLE GENETICS INC US SGEN 49,260 $3,798,931.20
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 60,000 $58,950.00
81762P102 SERVICENOW INC US NOW 32,535 $6,364,822.05
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 70,000 $68,075.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 55,000 $56,718.75
828806109 SIMON PROPERTY GROUP INC US SPG 1,585 $280,148.75
83088M102 SKYWORKS SOLUTIONS INC US SWKS 25,215 $2,287,252.65
84265V105 SOUTHERN COPPER CORPORATION US SCCO 58,295 $2,514,846.30
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 95,000 $94,287.50
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 30,000 $30,186.00
85254J102 STAG INDUSTRIAL INC US STAG 2,050 $56,375.00
866674104 SUN COMMUNITIES US SUI 1,030 $104,586.20
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 3,900 $63,804.00
874080104 TAL EDUCATION GROUP - ADR CN TAL 1,660 $42,678.60
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 55,000 $56,031.25
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 70,000 $66,150.00
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 480,000 $454,326.09
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 55,000 $51,150.00
882508104 TEXAS INSTRUMENTS INC US TXN 28,505 $3,058,301.45
883556102 THERMO FISHER SCIENTIFIC INC US TMO 11,295 $2,756,883.60
88650V208 TIER REIT INC US TIER 3,715 $89,531.50
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,000 $34,650.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 95,000 $97,612.50
902653104 UDR INC US UDR 2,910 $117,651.30
903002103 UMH PROPERTIES INC US UMH 1,890 $29,559.60
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 85,000 $84,893.75
90384S303 ULTA BEAUTY INC US ULTA 16,755 $4,726,920.60
904767704 UNILEVER PLC - ADR GB UL 96,246 $5,290,642.62
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,835,000 $2,403,204.89
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 2,685,000 $3,297,515.63
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,365,090.48 $1,280,909.90
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,100,000 $1,059,437.50
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 14,902,000 $14,218,021.45
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 4,600,000 $4,484,820.32
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 4,500,000 $4,478,554.71
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 4,583,195.08 $4,523,339.01
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 5,000,000 $4,523,046.90
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,338,522.28 $1,295,778.81
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 4,715,000 $4,476,487.29
91704F104 URBAN EDGE PROPERTIES US UE 3,875 $85,560.00
92276F100 VENTAS INC US VTR 800 $43,504.00
92339V100 VEREIT INC US VER 5,330 $38,695.80
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 630,000 $689,832.48
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 12,285 $2,367,810.90
92826C839 VISA INC - CLASS A SHARES US V 50,515 $7,581,796.35
929042109 VORNADO REALTY TRUST US VNO 1,250 $91,250.00
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 85,000 $87,868.75
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 55,000 $53,212.50
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 95,000 $90,487.50
95040Q104 WELLTOWER INC. US WELL 960 $61,747.20
962166104 WEYERHAEUSER CO US WY 1,084 $34,980.68
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 65,000 $65,325.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 85,000 $84,362.50
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 360,000 $342,689.03
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 166,460 $5,779,491.20
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 130,000 $128,375.00
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 6,500 $41,461.49
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,740 $47,166.85
B037JC2 NEXITY FR NXI FP 1,445 $79,864.13
B0386J1 JYSKE BANK-REG DK JYSK DC 1,560 $75,537.86
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 2,300 $40,395.74
B06JSP1 SYDBANK A/S DK SYDB DC 2,215 $65,120.15
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 205 $46,182.13
B09M9D2 KONE OYJ-B FI KNEBV FH 1,670 $89,142.46
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 2,200 $85,471.90
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 340 $84,849.23
B138HB7 KAUFMAN & BROAD SA FR KOF FP 2,550 $119,666.81
B13X013 EIFFAGE FR FGR FP 1,455 $162,537.61
B15C557 TOTAL SA FR FP FP 3,200 $208,066.26
B19NLV4 EXPERIAN PLC GB EXPN LN 1,785 $45,803.47
B1CRLC4 MONDI PLC GB MNDI LN 1,660 $45,450.61
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 12,715 $252,110.77
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $75,758.79
B1WGG93 GEBERIT AG-REG CH GEBN SW 265 $122,997.55
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 2,175 $127,339.18
B1XH026 VINCI SA FR DG FP 45,690 $4,346,934.84
B1Y9TB3 DANONE FR BN FP 2,148 $166,932.13
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 18,000 $85,929.01
B232R05 SK INNOVATION CO LTD KR 096770 KS 490 $94,981.58
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 2,000 $82,016.55
B283W97 CAIXABANK S.A ES CABK SM 679,315 $3,089,469.47
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 6,715 $13,776.76
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 400 $41,401.83
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 495 $45,880.98
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,860 $110,666.82
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 199,000 $167,576.21
B4R2R50 JULIUS BAER CH BAER SW 63,705 $3,183,729.10
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 496,000 $147,900.42
B4YVF56 BRENNTAG AG DE BNR GR 1,215 $74,930.79
B607XS1 VERMILION ENERGY INC CA VET CN 4,310 $142,014.94
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 13,665 $172,478.90
B63QM77 NEXON CO LTD JP 3659 JP 12,000 $156,858.11
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 885 $48,540.93
B7VQL46 FNAC DARTY SA FR FNAC FP 1,285 $101,329.04
B8FMRX8 COLOPLAST-B DK COLOB DC 865 $88,364.45
BB22L96 KION GROUP AG DE KGX GR 1,980 $121,573.95
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 122,000 $64,052.62
BD6G507 FERRARI NV IT RACE IM 345 $47,387.89
BD6K457 COMPASS GROUP PLC GB CPG LN 2,090 $46,467.89
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 200,000 $204,500.00
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 106,000 $55,758.73
BDZV116 EPIROC AB-A SE EPIA SS 12,970 $144,915.39
BF2DSG3 SIKA AG-REG CH SIKA SW 280 $40,745.46
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 115,000 $108,100.00
BFYFZP5 FERGUSON PLC CH FERG LN 553 $46,906.76
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 765 $154,106.57
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 24,585 $40,533.04
BGLP232 MONCLER SPA IT MONC IM 2,035 $87,560.76
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 176,000 $137,433.64
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 920 $43,299.87
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 149,571 $6,107,107.79
BNBNSG0 EURONEXT NV NL ENX FP 2,215 $145,537.16
BNGN9Z1 FINECOBANK SPA IT FBK IM 263,465 $3,513,277.59
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 106,955 $3,231,275.23
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 2,500 $83,503.66
BVSS790 ELIS SA FR ELIS FP 7,120 $167,636.43
BYQ32R1 NEMAK SAB DE CV MX 106,300 $80,091.38
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 176,000 $84,804.20
BYXS699 QIAGEN N.V. NL QIA GR 2,758 $104,452.36
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 3,205 $93,477.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 43,758 $3,830,378.72
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 88,700 $66,964.18
BYZFYS3 SPIE SA FR SPIE FP 8,495 $169,178.95
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,901 $128,857.49
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 2,220 $83,335.25
BZ3C3Q4 BANKIA SA ES BKIA SM 496,828 $1,939,473.36
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 236,850 $70,123.87
G02602103 AMDOCS LTD GG DOX 64,233 $4,238,093.34
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 99,590 $2,904,044.40
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,530 $79,345.80
G27358103 DESPEGAR.COM CORP AR DESP 2,045 $34,499.15
G3157S106 ENSCO INTERNATIONAL INC US ESV 312,935 $2,641,171.40
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 115,000 $119,600.00
G5960L103 MEDTRONIC INC IE MDT 87,065 $8,564,584.05
G97822103 PERRIGO CO PLC IE PRGO 54,615 $3,866,742.00
H8817H100 TRANSOCEAN LTD US RIG 178,900 $2,495,655.00
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 690 $81,192.30
N22717107 CORE LABORATORIES N.V. NL CLB 775 $89,768.25
N47279109 INTERXION HOLDING NV NL INXN 35,700 $2,402,610.00
N59465109 MYLAN NV US MYL 42,340 $1,549,644.00
N72482123 QIAGEN N.V. ADR NL QGEN 87,326 $3,307,908.88
USD US DOLLAR US 769,525.86 $769,525.86

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

$36.91

Daily $ Change

-$0.52

Daily % Change

-1.41%

as of 10/18/2018

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

Performance

As of 09/30/2018

YTD

7.14%

1 Year

12.55%

3 Year

13.35%

5 Year

8.38%

10 Year

8.43%

Inception
(01/01/2000)

7.42%

US Stock Market Cycle (04/01/2000 - 09/30/2018)

7.58%

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 0.90%
Net 0.90%*

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

Top Ten Investments

As of 09/30/2018

TREASURY NOTES 7.00%
INCYTE CORP 2.16%
LULULEMON - ADR 2.08%
MASTERCARD INC-CLASS A 1.87%
MEDTRONIC INC 1.86%
BOOKING HOLDINGS INC 1.76%
QORVO INC 1.70%
VISA INC - CLASS A SHARES 1.65%
MICROSOFT CORP 1.60%
NOVARTIS AG- REG 1.49%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 09/30/2018

Stocks
85.70%
Bonds
14.13%
Cash
0.17%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities
29.29%
Small Capitalization
1.47%
Mid Capitalization
8.65%
Large Capitalization
46.30%
Long Term Fixed Income
2.59%
Intermediate Term Fixed Income
8.83%
Short Term Fixed Income
2.70%
Cash
0.17%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 50,000 $50,750.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 460,000 $454,057.91
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 75,000 $76,500.00
004239109 ACADIA REALTY TRUST US AKR 1,105 $30,973.15
0045614 ANTOFAGASTA PLC GB ANTO LN 107,125 $1,190,417.59
0053673 ASHTEAD GROUP PLC GB AHT LN 3,035 $96,295.85
00724F101 ADOBE SYS INC US ADBE 18,360 $4,956,282.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 460,000 $455,154.30
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 157,945 $4,277,150.60
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 5,605 $41,392.91
008492100 AGREE REALTY CORP US ADC 505 $26,825.60
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 35,000 $36,099.06
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 205 $25,786.95
01609W102 ALIBABA GROUP - ADR CN BABA 37,245 $6,136,486.20
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 730,000 $680,429.01
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 70,000 $70,700.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 55,000 $55,000.00
02079K107 ALPHABET INC-CL C US GOOG 3,310 $3,950,385.70
02079K305 ALPHABET INC-CL A US GOOGL 3,275 $3,953,187.00
02209S103 ALTRIA GROUP INC US MO 46,845 $2,825,221.95
023135106 AMAZON.COM INC US AMZN 2,715 $5,438,145.00
02319V103 AMBEV SA-ADR BR ABEV 868,760 $3,970,233.20
0237400 DIAGEO PLC GB DGE LN 99,860 $3,537,868.43
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,275 $52,479.00
0263494 BAE SYSTEMS PLC GB BA/ LN 18,285 $149,937.29
02665T306 AMERICAN HOMES 4 RENT- A US AMH 4,835 $105,838.15
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 470,000 $449,642.51
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 85,000 $85,000.00
03027X100 AMERICAN TOWER REIT INC US AMT 36,010 $5,232,253.00
03064D108 AMERICOLD REALTY TRUST US COLD 905 $22,643.10
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,715 $75,682.95
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,465 $43,112.85
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 60,000 $58,725.00
0405207 HALMA PLC GB HLMA LN 5,005 $94,228.96
0490656 KERRY GROUP PLC-A IE KYGA LN 1,605 $177,124.14
053332102 AUTOZONE INC US AZO 7,555 $5,860,413.50
053484101 AVALONBAY COMMUNITIES INC US AVB 1,145 $207,416.75
058498106 BALL CORP US BLL 119,280 $5,247,127.20
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 690,000 $680,934.93
0822011 DS SMITH PLC GB SMDS LN 19,308 $120,268.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 54,050 $5,241,228.50
09062X103 BIOGEN IDEC INC US BIIB 6,185 $2,185,222.35
0922320 SMITH & NEPHEW PLC GB SN/ LN 4,500 $82,101.39
09247X101 BLACKROCK INC US BLK 12,290 $5,792,645.70
0946580 WEIR GROUP PLC/THE GB WEIR LN 8,795 $201,774.51
09627J102 BLUEROCK RESIDENTIAL GROWTH US 2,170 $21,266.00
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 640,000 $677,300.81
09857L108 BOOKING HOLDINGS INC US BKNG 4,070 $8,074,880.00
101121101 BOSTON PROPERTIES INC US BXP 1,170 $144,015.30
105368203 BRANDYWINE REALTY TRUST US BDN 6,315 $99,271.80
110122108 BRISTOL MYERS SQUIBB CO US BMY 30,715 $1,906,787.20
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,930 $136,625.90
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 60,000 $59,400.00
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 80,000 $79,100.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 10,150 $973,994.00
125269100 CF INDUSTRIES HOLDINGS INC US CF 98,520 $5,363,428.80
12572Q105 CME GROUP INC US CME 6,260 $1,065,514.60
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 450,000 $450,585.00
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 130,000 $127,075.00
13321L108 CAMECO CORP CA CCJ 7,287 $83,071.80
134429109 CAMPBELL SOUP CO US CPB 97,960 $3,588,274.80
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 3,020 $34,518.60
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 125,000 $116,287.50
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 55,000 $57,681.25
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 90,000 $90,110.70
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,270 $40,728.90
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 470,000 $678,428.77
191216100 COCA COLA CO/THE US KO 120,430 $5,562,661.70
194162103 COLGATE-PALMOLIVE CO US CL 46,205 $3,093,424.75
19626G108 COLONY CAPITAL INC US CLNY 5,232 $31,862.88
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,620 $50,187.60
2162760 CAE INC CA CAE CN 2,105 $42,730.69
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 3,700 $120,884.14
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 535 $48,005.65
21871N101 CORECIVIC INC US CXW 2,900 $70,557.00
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 300,000 $331,916.88
222795106 COUSINS PROPERTIES INC US CUZ 11,000 $97,790.00
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 65,000 $63,505.00
22822V101 CROWN CASTLE INTL CORP US CCI 690 $76,817.70
228368106 CROWN HOLDINGS INC US CCK 35,555 $1,706,640.00
229663109 CUBESMART US CUBE 1,265 $36,090.45
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 50,000 $51,125.00
23331A109 DR HORTON INC US DHI 285 $12,021.30
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 90,990 $1,036,242.71
23918K108 DAVITA INC. US DVA 51,300 $3,674,619.00
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 95,000 $90,606.25
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 20,865 $44,396.94
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 41,260 $141,259.39
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 51,300 $91,009.94
25271C102 DIAMOND OFFSHORE DRILLING US DO 80,340 $1,606,800.00
253393102 DICK'S SPORTING GOODS INC US DKS 130,395 $4,626,414.60
253868103 DIGITAL REALTY TRUST INC US DLR 1,295 $145,661.60
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 470,000 $459,536.17
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 100,000 $101,250.00
2639349 GRUPO AEROPORT DEL SURESTE-B MX 4,045 $82,655.12
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 14,500 $41,731.86
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 130,000 $130,650.00
269246401 ETRADE FINANCIAL CORP US ETFC 85,210 $4,464,151.90
2715777 QUEBECOR INC -CL B CA QBR/B CN 157,735 $3,162,881.97
277276101 EASTGROUP PROPERTIES US EGP 220 $21,036.40
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 150,860 $2,939,764.02
285512109 ELECTRONIC ARTS US EA 40,365 $4,863,578.85
2866857 LUNDIN MINING CORP CA LUN CN 215,195 $1,139,576.36
294429105 EQUIFAX INC US EFX 17,415 $2,273,876.55
29444U700 EQUINIX INC US EQIX 7,800 $3,376,542.00
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 565 $54,494.25
29476L107 EQUITY RESIDENTIAL US EQR 2,125 $140,802.50
297178105 ESSEX PROPERTY TRUST INC US ESS 235 $57,976.85
30225T102 EXTRA SPACE STORAGE INC US EXR 555 $48,085.20
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 100,000 $102,000.00
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 220,000 $232,821.26
31428X106 FEDEX CORPORATION US FDX 19,285 $4,643,635.15
3174300 BURBERRY GROUP PLC GB BRBY LN 3,295 $86,524.82
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,255 $39,407.00
3208986 NEXT PLC GB NXT LN 560 $40,077.24
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 65,000 $60,775.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 80,000 $79,436.00
35671D857 FREEPORT-MCMORAN INC US FCX 254,965 $3,549,112.80
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 420,000 $428,304.09
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 450,000 $449,830.35
371559105 GENESEE & WYOMING INC -CL A US GWR 38,535 $3,506,299.65
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 65,000 $61,425.00
374297109 GETTY REALTY CORP US GTY 1,530 $43,696.80
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 135,000 $134,325.00
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 65,000 $63,375.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,125 $122,827.50
404121AH8 HCA INC 5.37500 09/01/2026 US 75,000 $75,750.00
40414L109 HCP INC US HCP 2,890 $76,064.80
4057808 L'OREAL FR OR FP 370 $89,202.19
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 130 $45,938.19
4163437 CAP GEMINI FR CAP FP 340 $42,805.23
421946104 HEALTHCARE REALTY TRUST INC US HR 1,860 $54,423.60
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,900 $50,673.00
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 775 $43,247.23
44107P104 HOST MARRIOTT CORP US HST 5,035 $106,238.50
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 150,000 $146,250.00
4457624 TRIGANO SA FR TRI FP 1,370 $149,830.26
4497749 KBC GROEP NV BE KBC BB 1,130 $84,024.96
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 100,000 $98,500.00
45337C102 INCYTE CORP US INCY 143,760 $9,930,940.80
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,385 $35,644.05
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 130,000 $129,350.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 14,005 $1,048,834.45
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 505,000 $514,822.32
46120E602 INTUITIVE SURGICAL INC US ISRG 7,755 $4,451,370.00
46187W107 INVITATION HOMES INC US INVH 4,212 $96,496.92
464287739 ISHARES DJ US REAL ESTATE US 1,030 $82,420.60
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 660,000 $673,066.84
4741844 MERCK KGAA DE MRK GR 21,240 $2,194,529.78
476405105 JERNIGAN CAPITAL INC US JCAP 1,845 $35,590.05
478160104 JOHNSON & JOHNSON US JNJ 43,440 $6,002,104.80
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 125,000 $95,625.00
4800659 LUXOTTICA GROUP SPA IT LUX IM 690 $46,763.26
4821100 SOLVAY SA BE SOLB BB 1,435 $192,366.97
4824778 SGS SA-REG CH SGSN SW 20 $52,658.67
4846288 SAP AG DE SAP GR 385 $47,340.94
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 580,000 $703,063.72
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 70,000 $71,575.00
50187T106 LGI HOMES INC US LGIH 200 $9,488.00
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 90,000 $88,425.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 85,000 $82,981.25
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 100,000 $104,750.00
5048566 SWEDISH MATCH AB SE SWMA SS 785 $40,125.53
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 55,000 $55,756.25
5107401 BEIERSDORF AG DE BEI GR 39,530 $4,455,950.49
512816109 LAMAR ADVERTISING CO US LAMR 460 $35,788.00
5228658 RANDSTAD HOLDING NV NL RAND NA 2,285 $121,960.86
5253973 HERMES INTERNATIONAL FR RMS FP 145 $96,065.94
526057104 LENNAR CORP US LEN 230 $10,738.70
5263574 FLSMIDTH & CO A/S DK FLS DC 890 $55,342.58
5289837 ERSTE GROUP BANK AG AT EBS AV 1,905 $79,089.40
529043101 LEXINGTON REALTY TRUST US LXP 4,620 $38,346.00
531172104 LIBERTY PROPERTY TRUST US LPT 2,075 $87,668.75
53223X107 LIFE STORAGE INC US LSI 280 $26,644.80
5458314 AKZO NOBEL NL AKZA NA 43,745 $4,092,049.53
5474008 BANKINTER S.A. ES BKT SM 13,095 $120,288.30
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 20 $37,872.64
550021109 LULULEMON - ADR CA LULU 58,992 $9,585,610.08
554382101 THE MACERICH CO US MAC 550 $30,409.50
5545670 JUNGHEINRICH AG DE JUN3 GR 2,250 $85,630.35
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 215,000 $231,271.94
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 105,000 $103,293.75
5633616 SOPRA STERIA GROUP FR SOP FP 1,255 $201,174.54
5669354 REPSOL SA ES REP SM 10,597.56 $210,968.96
5671519 WOLTERS KLUWER NL WKL NA 690 $43,014.52
5699373 WIENERBERGER AG AT WIE AV 3,300 $82,496.89
5713422 METSO OYJ FI METSO FH 3,970 $140,506.81
5727973 SIEMENS AG-REG DE SIE GR 1,330 $170,058.50
57636Q104 MASTERCARD INC-CLASS A US MA 38,555 $8,582,728.55
5852842 ACCOR SA FR AC FP 2,442 $125,450.03
58933Y105 MERCK & CO INC US MRK 35,320 $2,505,600.80
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 60,000 $55,350.00
594918104 MICROSOFT CORP US MSFT 64,275 $7,351,131.75
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,035 $103,686.30
5980613 GIVAUDAN - REG CH GIVN SW 15 $36,908.76
5999330 TELEPERFORMANCE FR TEP FP 210 $39,617.50
6054603 ASAHI KASEI CORP JP 3407 JP 2,700 $40,937.68
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 93,945 $4,035,877.20
6125286 TREND MICRO INC JP 4704 JP 1,300 $83,620.89
6129277 NTT DOCOMO INC JP 9437 JP 3,000 $80,632.71
6136749 OBIC CO LTD JP 4684 JP 800 $75,665.38
6141680 ORACLE CORP JAPAN JP 4716 JP 1,100 $88,629.53
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 670,000 $680,894.43
6180412 COMPUTERSHARE LTD AU CPU AU 3,240 $46,659.95
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 1,300 $83,568.32
6198578 REA GROUP LTD AU REA AU 680 $42,189.01
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 140,000 $142,800.00
6248990 KDDI CORP JP 9433 JP 3,300 $91,036.27
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 95,000 $89,062.50
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 130,000 $130,617.44
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 60,000 $57,450.00
6308913 ELBIT SYSTEMS LTD IL ESLT IT 315 $40,025.88
6353418 FRUTAROM IL FRUT IT 460 $47,727.08
6356934 FANUC LTD JP 6954 JP 407 $76,570.03
637417106 NATIONAL RETAIL PROPERTIES US NNN 870 $38,993.40
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 1,800 $90,896.43
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 50,000 $53,000.00
64110W102 NETEASE.COM INC- ADR CN NTES 490 $111,842.50
6441506 HOYA CORP JP 7741 JP 700 $41,573.70
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 740 $89,693.59
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 955 $89,089.51
6467104 ISUZU MOTORS LTD JP 7202 JP 2,700 $42,564.25
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 1,845 $136,548.45
6482903 KANAMOTO CO LTD JP 9678 JP 2,300 $81,544.24
6483809 KAO CORP JP 4452 JP 500 $40,388.89
6490809 KIKKOMAN CORP JP 2801 JP 700 $41,689.67
6490995 KEYENCE CORP JP 6861 JP 4,300 $2,497,813.61
6518808 LION CORP JP 4912 JP 3,800 $84,396.61
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 44,000 $87,624.27
654106103 NIKE INC CLASS B US NKE 31,520 $2,670,374.40
6555805 MAKITA CORP JP 6586 JP 800 $40,060.93
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 1,600 $46,639.34
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 100,370.37 $86,658.61
6640507 NIPPON PAINT HOLDINGS CO LTD JP 4612 JP 1,100 $41,058.70
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 700 $36,974.36
6642387 YAMAHA CORP JP 7951 JP 2,400 $127,170.92
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 140,000 $143,150.00
66987V109 NOVARTIS AG- REG CH NVS 79,355 $6,837,226.80
67091GAA1 OCI NV 6.62500 04/15/2023 NL 90,000 $93,150.00
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 8,840 $3,070,308.80
6742340 SHANDONG WEIGAO CN 1066 HK 52,000 $51,314.25
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 4,600 $80,128.80
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 5,870 $42,746.83
6791591 SECOM CO LTD JP 9735 JP 500 $40,745.85
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 2,300 $42,414.38
680665205 OLIN CORP US OLN 110,780 $2,844,830.40
6865504 SUZUKI MOTOR CORP JP 7269 JP 2,000 $114,622.28
6883807 SYSMEX CORP JP 6869 JP 500 $43,116.72
6885074 TERUMO CORP JP 4543 JP 1,400 $82,857.70
69007J106 OUTFRONT MEDIA INC US OUT 1,415 $28,229.25
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 54,000 $95,686.01
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 85,000 $86,700.00
6948836 WESFARMERS LTD AU WES AU 1,170 $42,130.87
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 4,560 $127,209.95
6985383 ASTELLAS PHARMA INC JP 4503 JP 2,300 $40,164.84
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 1,900 $40,190.60
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 85,000 $82,981.25
7103065 NOVARTIS AG-REG CH NOVN SW 2,465 $212,183.41
7110902 TECAN GROUP AG-REG CH TECN SW 190 $44,978.81
7123870 NESTLE SA-REGISTERED CH NESN SW 57,280 $4,767,793.95
7145056 ENI SPA IT ENI IM 6,605 $124,501.36
7156036 SONOVA HOLDING AG-REG CH SOON SW 205 $40,685.95
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 370,000 $338,920.00
718172109 PHILIP MORRIS INTERNATIONAL US PM 38,275 $3,120,943.50
71943U104 PHYSICIANS REALTY TRUST US DOC 6,365 $107,313.90
7212477 ESSILORLUXOTTICA FR EL FP 645 $95,472.67
729640102 PLYMOUTH INDUSTRIAL REIT INC US 1,740 $26,970.00
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 85,000 $87,167.50
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 90,000 $91,114.20
7339451 ORPEA SA FR ORP FP 1,085 $140,364.82
7380062 AAREAL BANK AG DE ARL GR 1,980 $82,559.03
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 6,330 $272,829.03
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 700,000 $679,100.65
74340W103 PROLOGIS US PLD 3,055 $207,098.45
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 430,000 $454,725.00
74460D109 PUBLIC STORAGE INC US PSA 580 $116,945.40
74736K101 QORVO INC US QRVO 101,640 $7,815,099.60
758849103 REGENCY CENTERS CORP US REG 839 $54,258.13
75886F107 REGENERON PHARMACEUTICALS INC US REGN 7,610 $3,074,744.40
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 50,000 $51,375.00
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,570 $253,220.10
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 710 $68,188.40
78410G104 SBA COMMUNICATIONS CORP US SBAC 31,255 $5,020,490.65
78442PGC4 SLM CORP 5.12500 04/05/2022 US 75,000 $74,625.00
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 630,000 $680,398.67
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 450,000 $444,368.71
806857108 SCHLUMBERGER LTD NL SLB 87,041 $5,302,537.72
808513105 CHARLES SCHWAB CORP/THE US SCHW 117,975 $5,798,471.25
81211K100 SEALED AIR CORP US SEE 108,330 $4,349,449.50
812578102 SEATTLE GENETICS INC US SGEN 49,260 $3,798,931.20
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 60,000 $58,950.00
81762P102 SERVICENOW INC US NOW 32,535 $6,364,822.05
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 70,000 $68,075.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 55,000 $56,718.75
828806109 SIMON PROPERTY GROUP INC US SPG 1,585 $280,148.75
83088M102 SKYWORKS SOLUTIONS INC US SWKS 25,215 $2,287,252.65
84265V105 SOUTHERN COPPER CORPORATION US SCCO 58,295 $2,514,846.30
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 95,000 $94,287.50
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 30,000 $30,186.00
85254J102 STAG INDUSTRIAL INC US STAG 2,050 $56,375.00
866674104 SUN COMMUNITIES US SUI 1,030 $104,586.20
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 3,900 $63,804.00
874080104 TAL EDUCATION GROUP - ADR CN TAL 1,660 $42,678.60
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 55,000 $56,031.25
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 70,000 $66,150.00
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 480,000 $454,326.09
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 55,000 $51,150.00
882508104 TEXAS INSTRUMENTS INC US TXN 28,505 $3,058,301.45
883556102 THERMO FISHER SCIENTIFIC INC US TMO 11,295 $2,756,883.60
88650V208 TIER REIT INC US TIER 3,715 $89,531.50
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,000 $34,650.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 95,000 $97,612.50
902653104 UDR INC US UDR 2,910 $117,651.30
903002103 UMH PROPERTIES INC US UMH 1,890 $29,559.60
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 85,000 $84,893.75
90384S303 ULTA BEAUTY INC US ULTA 16,755 $4,726,920.60
904767704 UNILEVER PLC - ADR GB UL 96,246 $5,290,642.62
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,835,000 $2,403,204.89
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 2,685,000 $3,297,515.63
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,365,090.48 $1,280,909.90
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,100,000 $1,059,437.50
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 14,902,000 $14,218,021.45
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 4,600,000 $4,484,820.32
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 4,500,000 $4,478,554.71
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 4,583,195.08 $4,523,339.01
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 5,000,000 $4,523,046.90
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,338,522.28 $1,295,778.81
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 4,715,000 $4,476,487.29
91704F104 URBAN EDGE PROPERTIES US UE 3,875 $85,560.00
92276F100 VENTAS INC US VTR 800 $43,504.00
92339V100 VEREIT INC US VER 5,330 $38,695.80
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 630,000 $689,832.48
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 12,285 $2,367,810.90
92826C839 VISA INC - CLASS A SHARES US V 50,515 $7,581,796.35
929042109 VORNADO REALTY TRUST US VNO 1,250 $91,250.00
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 85,000 $87,868.75
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 55,000 $53,212.50
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 95,000 $90,487.50
95040Q104 WELLTOWER INC. US WELL 960 $61,747.20
962166104 WEYERHAEUSER CO US WY 1,084 $34,980.68
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 65,000 $65,325.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 85,000 $84,362.50
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 360,000 $342,689.03
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 166,460 $5,779,491.20
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 130,000 $128,375.00
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 6,500 $41,461.49
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,740 $47,166.85
B037JC2 NEXITY FR NXI FP 1,445 $79,864.13
B0386J1 JYSKE BANK-REG DK JYSK DC 1,560 $75,537.86
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 2,300 $40,395.74
B06JSP1 SYDBANK A/S DK SYDB DC 2,215 $65,120.15
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 205 $46,182.13
B09M9D2 KONE OYJ-B FI KNEBV FH 1,670 $89,142.46
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 2,200 $85,471.90
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 340 $84,849.23
B138HB7 KAUFMAN & BROAD SA FR KOF FP 2,550 $119,666.81
B13X013 EIFFAGE FR FGR FP 1,455 $162,537.61
B15C557 TOTAL SA FR FP FP 3,200 $208,066.26
B19NLV4 EXPERIAN PLC GB EXPN LN 1,785 $45,803.47
B1CRLC4 MONDI PLC GB MNDI LN 1,660 $45,450.61
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 12,715 $252,110.77
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $75,758.79
B1WGG93 GEBERIT AG-REG CH GEBN SW 265 $122,997.55
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 2,175 $127,339.18
B1XH026 VINCI SA FR DG FP 45,690 $4,346,934.84
B1Y9TB3 DANONE FR BN FP 2,148 $166,932.13
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 18,000 $85,929.01
B232R05 SK INNOVATION CO LTD KR 096770 KS 490 $94,981.58
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 2,000 $82,016.55
B283W97 CAIXABANK S.A ES CABK SM 679,315 $3,089,469.47
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 6,715 $13,776.76
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 400 $41,401.83
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 495 $45,880.98
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,860 $110,666.82
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 199,000 $167,576.21
B4R2R50 JULIUS BAER CH BAER SW 63,705 $3,183,729.10
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 496,000 $147,900.42
B4YVF56 BRENNTAG AG DE BNR GR 1,215 $74,930.79
B607XS1 VERMILION ENERGY INC CA VET CN 4,310 $142,014.94
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 13,665 $172,478.90
B63QM77 NEXON CO LTD JP 3659 JP 12,000 $156,858.11
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 885 $48,540.93
B7VQL46 FNAC DARTY SA FR FNAC FP 1,285 $101,329.04
B8FMRX8 COLOPLAST-B DK COLOB DC 865 $88,364.45
BB22L96 KION GROUP AG DE KGX GR 1,980 $121,573.95
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 122,000 $64,052.62
BD6G507 FERRARI NV IT RACE IM 345 $47,387.89
BD6K457 COMPASS GROUP PLC GB CPG LN 2,090 $46,467.89
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 200,000 $204,500.00
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 106,000 $55,758.73
BDZV116 EPIROC AB-A SE EPIA SS 12,970 $144,915.39
BF2DSG3 SIKA AG-REG CH SIKA SW 280 $40,745.46
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 115,000 $108,100.00
BFYFZP5 FERGUSON PLC CH FERG LN 553 $46,906.76
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 765 $154,106.57
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 24,585 $40,533.04
BGLP232 MONCLER SPA IT MONC IM 2,035 $87,560.76
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 176,000 $137,433.64
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 920 $43,299.87
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 149,571 $6,107,107.79
BNBNSG0 EURONEXT NV NL ENX FP 2,215 $145,537.16
BNGN9Z1 FINECOBANK SPA IT FBK IM 263,465 $3,513,277.59
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 106,955 $3,231,275.23
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 2,500 $83,503.66
BVSS790 ELIS SA FR ELIS FP 7,120 $167,636.43
BYQ32R1 NEMAK SAB DE CV MX 106,300 $80,091.38
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 176,000 $84,804.20
BYXS699 QIAGEN N.V. NL QIA GR 2,758 $104,452.36
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 3,205 $93,477.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 43,758 $3,830,378.72
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 88,700 $66,964.18
BYZFYS3 SPIE SA FR SPIE FP 8,495 $169,178.95
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,901 $128,857.49
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 2,220 $83,335.25
BZ3C3Q4 BANKIA SA ES BKIA SM 496,828 $1,939,473.36
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 236,850 $70,123.87
G02602103 AMDOCS LTD GG DOX 64,233 $4,238,093.34
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 99,590 $2,904,044.40
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,530 $79,345.80
G27358103 DESPEGAR.COM CORP AR DESP 2,045 $34,499.15
G3157S106 ENSCO INTERNATIONAL INC US ESV 312,935 $2,641,171.40
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 115,000 $119,600.00
G5960L103 MEDTRONIC INC IE MDT 87,065 $8,564,584.05
G97822103 PERRIGO CO PLC IE PRGO 54,615 $3,866,742.00
H8817H100 TRANSOCEAN LTD US RIG 178,900 $2,495,655.00
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 690 $81,192.30
N22717107 CORE LABORATORIES N.V. NL CLB 775 $89,768.25
N47279109 INTERXION HOLDING NV NL INXN 35,700 $2,402,610.00
N59465109 MYLAN NV US MYL 42,340 $1,549,644.00
N72482123 QIAGEN N.V. ADR NL QGEN 87,326 $3,307,908.88
USD US DOLLAR US 769,525.86 $769,525.86

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.


Loading...