Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a moderately conservative mix of securities that seeks a more stable rate of growth than that of the stock market by placing a greater emphasis on bonds to help maintain stability. The portfolio is diversified primarily among fixed income securities, with a focus on intermediate maturities. Stock exposure can range from 18% - 54%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who may have stopped contributions and started periodic withdrawals around the year 2015
  • Who currently have a moderately low tolerance for risk and are looking to minimize extreme declines in account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$13.39

Daily $ Change

$0.00

Daily % Change

0.00%

as of 12/11/2018

CUSIP

302027685

Inception Date

08/03/2012

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

Important Documents

Annual Report
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Performance

As of 11/30/2018

YTD

-0.44%

1 Year

0.37%

3 Year

3.83%

5 Year

3.06%

10 Year

7.09%

Inception
(01/01/2000)

6.18%

US Stock Market Cycle (04/01/2000 - 11/30/2018)

6.11%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I 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 0.73%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 13.60%
GOVERNMENT AGENCY 7.89%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.82%
TREASURY BONDS 4.82%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.12%
JOHNSON & JOHNSON 1.02%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.02%
NOVARTIS AG- REG 1.01%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.95%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.95%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2018

Bonds 66.32%
Stocks 31.68%
Cash 2.00%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities 9.48%
Small Capitalization 0.71%
Mid Capitalization 2.76%
Large Capitalization 18.72%
Long Term Fixed Income 20.69%
Intermediate Term Fixed Income 29.45%
Short Term Fixed Income 16.19%
Cash 2.00%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 262.03 $5,313.99
00101JAM8 ADT CORP 5.25000 03/15/2020 US 3,628.13 $3,655.34
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 112,353.21 $108,298.26
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 204,052.53 $201,604.89
00287Y109 ABBVIE INC US ABBV 128.18 $12,083.25
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 17,399.76 $17,747.75
004239109 ACADIA REALTY TRUST US AKR 62.71 $1,797.89
0045614 ANTOFAGASTA PLC GB ANTO LN 240.85 $2,471.53
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 109,780.32 $106,860.00
008492100 AGREE REALTY CORP US ADC 39.42 $2,348.44
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 4,837.5 $4,945.49
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 15.34 $1,909.40
01609W102 ALIBABA GROUP - ADR CN BABA 344.88 $55,477.03
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 6,432.23 $6,432.23
020002101 ALLSTATE CORPORATION US ALL 31.37 $2,798.07
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 6,112.07 $6,094.90
02079K107 ALPHABET INC-CL C US GOOG 73.84 $80,816.79
02079K305 ALPHABET INC-CL A US GOOGL 42.44 $47,088.35
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 1,926.77 $1,859.33
023135106 AMAZON.COM INC US AMZN 26.16 $44,208.07
02319V103 AMBEV SA-ADR BR ABEV 10,957.08 $46,786.73
0237400 DIAGEO PLC GB DGE LN 3,114.16 $112,462.58
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 4,837.5 $4,867.74
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 46.77 $2,049.86
0263494 BAE SYSTEMS PLC GB BA/ LN 237.22 $1,491.26
02665T306 AMERICAN HOMES 4 RENT- A US AMH 367.39 $7,652.83
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 120,202.28 $113,474.40
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 5,596.33 $5,414.45
03027X100 AMERICAN TOWER REIT INC US AMT 333.98 $54,936.53
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 3,441.84 $3,461.76
03064D108 AMERICOLD REALTY TRUST US COLD 69.66 $1,866.82
031162100 AMGEN INC US AMGN 63.12 $13,144.21
03748R101 APARTMENT INVT & MGMT CO -A US AIV 137.73 $6,485.82
037833100 APPLE COMPUTER INC US AAPL 47.06 $8,403.62
03784Y200 APPLE HOSPITALITY REIT INC US APLE 107.29 $1,702.70
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 4,837.5 $4,504.93
03990B101 ARES MANAGEMENT CORP - A US ARES 231.56 $5,196.10
0405207 HALMA PLC GB HLMA LN 63.28 $1,110.66
0490656 KERRY GROUP PLC-A IE KYGA LN 19.19 $1,983.56
053015103 AUTOMATIC DATA PROCESSING US ADP 52.29 $7,708.10
053484101 AVALONBAY COMMUNITIES INC US AVB 84.7 $16,140.85
055622104 BP PLC-SPONS ADR GB BP 245.37 $9,900.83
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 61,656.51 $58,937.83
058498106 BALL CORP US BLL 2,410.05 $118,357.60
060505104 BANK OF AMERICA CORP US BAC 630.05 $17,893.54
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 176,533.02 $171,220.59
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 325.41 $71,018.46
088606108 BHP GROUP LTD AU BHP 175.98 $7,806.56
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 509.46 $48,923.52
0922320 SMITH & NEPHEW PLC GB SN/ LN 77.07 $1,406.57
09247X101 BLACKROCK INC US BLK 66.47 $28,449.27
09253U108 BLACKSTONE GROUP LP/THE US BX 193.83 $6,538.02
0946580 WEIR GROUP PLC/THE GB WEIR LN 136.34 $2,574.80
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 162,637.07 $165,612.81
097023105 BOEING CO US BA 46.54 $16,136.52
09857L108 BOOKING HOLDINGS INC US BKNG 78.62 $148,743.59
0989529 ASTRAZENECA PLC GB AZN LN 91.5 $7,125.11
101121101 BOSTON PROPERTIES INC US BXP 86.2 $11,309.91
105368203 BRANDYWINE REALTY TRUST US BDN 468.54 $6,686.12
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,179.37 $63,048.92
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 23.43 $816.99
11135F101 BROADCOM INC US AVGO 30.48 $7,235.22
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 5,969.81 $5,790.72
12503M108 CBOE GLOBAL MARKETS INC US CBOE 434.64 $46,776.47
12572Q105 CME GROUP INC US CME 254.05 $48,289.57
125896100 CMS ENERGY CORP US CMS 122.5 $6,381.03
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 55,490.86 $55,319.39
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 116,882.43 $116,448.80
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 29,286.84 $29,390.36
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 64,739.34 $63,141.27
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 53,438.76 $49,474.25
126650100 CVS HEALTH CORP US CVS 99.49 $7,979.42
13321L108 CAMECO CORP CA CCJ 80.09 $951.49
149123101 CATERPILLAR INC US CAT 42.65 $5,786.46
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 4,675.49 $4,652.11
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 50,497.41 $50,339.34
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 11,180.79 $10,076.69
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 53,505.79 $52,877.14
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 28,561.1 $28,204.85
165240102 CHESAPEAKE LODGING TRUST US CHSP 93.75 $2,772.19
166764100 CHEVRON CORP US CVX 80.3 $9,550.57
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 111.45 $9,510.74
17275R102 CISCO SYSTEMS INC US CSCO 360.93 $17,277.59
172967424 CITIGROUP INC US C 228.19 $14,784.68
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 120,356.42 $164,432.87
191216100 COCA COLA CO/THE US KO 1,910.03 $96,265.69
194162103 COLGATE-PALMOLIVE CO US CL 169.86 $10,789.31
19626G108 COLONY CAPITAL INC US CLNY 990.57 $6,101.90
199908104 COMFORT SYSTEMS US FIX 77.68 $4,090.79
20030N101 COMCAST CORP-CL A US CMCSA 293.03 $11,431.08
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 19.96 $1,047.61
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 263.6 $8,314.03
2099084 BORALEX INC -A CA BLX CN 164.33 $2,213.90
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 50.87 $1,278.32
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 8.17 $701.94
21871N101 CORECIVIC INC US CXW 330.68 $7,258.53
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 15,414.13 $16,272.40
222795106 COUSINS PROPERTIES INC US CUZ 816.34 $6,898.07
22282E102 COVANTA HOLDING CORP US CVA 458.63 $7,594.89
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 5,365.12 $4,989.56
2242059 FOMENTO ECONOMICO EXICA-UBD MX 104.82 $908.26
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 5,815.67 $5,597.58
22822V101 CROWN CASTLE INTL CORP US CCI 124.31 $14,283.13
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 37,257.47 $34,062.42
229663109 CUBESMART US CUBE 49.71 $1,548.12
2306814 EL PUERTO DE LIVERPOOL -C1 MX 203.93 $1,214.93
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 41.62 $480.33
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 3,628.13 $3,664.41
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 152.21 $1,397.67
23918K108 DAVITA INC. US DVA 1,000.27 $66,077.91
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 8,234.42 $7,719.77
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 250.86 $479.58
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 286.7 $669.08
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 161.85 $516.47
247361702 DELTA AIR LINES INC. US DAL 76.56 $4,648.12
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 60.12 $306.41
25271C102 DIAMOND OFFSHORE DRILLING US DO 1,449.16 $18,259.45
253393102 DICK'S SPORTING GOODS INC US DKS 142.29 $5,119.75
253868103 DIGITAL REALTY TRUST INC US DLR 136.02 $15,648.26
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 2,774.54 $2,761.79
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 120,356.42 $110,974.73
256677105 DOLLAR GENERAL CORP US DG 78.43 $8,704.94
2583952 METRO INC CA MRU CN 20.58 $709.34
26078J100 DOWDUPONT INC US DWDP 131.16 $7,587.88
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 11,939.62 $11,730.68
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 12,247.9 $12,140.73
269246401 ETRADE FINANCIAL CORP US ETFC 486.65 $25,446.85
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,427.73 $30,808.01
277276101 EASTGROUP PROPERTIES US EGP 17.83 $1,783.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 1,309.29 $24,645.66
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 90.94 $470.36
285512109 ELECTRONIC ARTS US EA 838.73 $70,512.42
2866857 LUNDIN MINING CORP CA LUN CN 338.96 $1,477.11
291011104 EMERSON ELEC CO US EMR 83.36 $5,628.46
29444U700 EQUINIX INC US EQIX 214.75 $82,738.18
2945422 WEG SA BR WEGE3 BZ 60.12 $277.02
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 41.52 $4,132.67
29476L107 EQUITY RESIDENTIAL US EQR 162.92 $11,607.77
297178105 ESSEX PROPERTY TRUST INC US ESS 27.37 $7,183.61
30161N101 EXELON CORP US EXC 86.27 $4,002.20
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 187,838.65 $184,929.22
30225T102 EXTRA SPACE STORAGE INC US EXR 41.17 $3,951.70
30231G102 EXXON MOBIL CORP US XOM 307.74 $24,465.68
302491303 FMC CORP US FMC 110.92 $9,177.72
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 5,708.8 $5,679.84
30261UAJ3 FREMF 2013-K713 B 3.26265 04/25/2046 US 18,496.95 $18,407.22
30262DAL5 FREMF 2011-K13 B 4.76806 01/25/2048 US 30,625.04 $31,256.27
30262SAR9 FREMF 2015-K42 B FLT 3.98325 12/25/2024 US 13,445.14 $13,263.28
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 6,728.64 $6,594.07
30286XAN9 FREMF 2015-K43 B FLT 3.86206 02/25/2048 US 35,452.49 $34,652.95
30287EAE0 FREMF 2014-K41 B FLT 3.96255 11/25/2047 US 52,286.66 $51,652.70
30290HAE8 FREMF 2012-K708 FLT 3.87019 02/25/2045 US 24,662.6 $24,619.86
30291EAE4 FREMF 2013-K712 B FLT 3.47306 05/25/2045 US 96,304.05 $96,090.77
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 2,443,275.27 $8,191.32
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 925.43 $934.34
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 762.02 $836.72
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,610.11 $1,738.27
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 5,697.57 $6,134.71
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 12,723.53 $13,695.35
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 291.04 $313.88
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 1,656.76 $1,800.93
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 3,456.6 $3,795.28
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 3,949.19 $4,256.34
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 10,018.91 $10,986.04
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 1,535.52 $1,652.49
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 4,807.13 $5,278.23
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 3,450.17 $3,728.22
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 6,892.51 $7,078.71
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 846.14 $865.58
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 241.13 $247.47
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 191.18 $196.96
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 782.08 $805.47
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 80,913.03 $83,560.78
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 10,925.79 $11,746.83
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 3,725.01 $3,867.58
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 37,091.54 $38,582.09
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 11,766.79 $11,848.35
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 44,288.81 $44,572.47
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 43,601.45 $44,895.10
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 11,042.69 $11,127.56
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 705.85 $710.27
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 48,516.27 $48,259.69
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 4,235.84 $4,561.73
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 468.4 $484.36
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 7,710.14 $8,295.79
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 547.47 $588.77
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 14.2 $1,876.24
3137A2B34 FHMS K009 X1 FLT 1.44443 08/25/2020 US 249,274.75 $4,283.61
3137ADTK3 FHMS K014 X1 FLT 1.32338 04/25/2021 US 926,467.09 $21,922.62
3137AJMG6 FMHS K016 X1 FLT 1.64995 10/25/2021 US 248,802.52 $8,919.74
3137AUPF0 FHMS K021 x1 FLT 1.57841 06/25/2022 US 1,425,908.42 $60,517.55
3137B3NB0 FHMS K030 X1 FLT 0.30922 04/25/2023 US 2,986,725.56 $22,775.57
3137B4GZ3 FHMS K032 X1 FLT 0.21808 05/25/2023 US 1,793,054.38 $8,386.65
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 61,929.06 $63,161.96
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 61,959.54 $64,000.60
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 21,630.37 $22,413.82
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,598.25 $3,742.96
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 2,358.76 $2,425.97
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 2,012.2 $2,092.04
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 8,153.94 $8,473.96
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 28,273.46 $29,409.26
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 84,961.09 $90,824.19
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 117,250.38 $115,457.15
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 46,232.34 $47,954.39
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 80,655.25 $79,434.31
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 13,115.72 $14,130.19
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 787.68 $881.22
31406PTV1 FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 US 460.97 $468.37
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 9,617.63 $9,701.82
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 20,251.85 $19,935.80
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 11,250.4 $11,073.66
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 44,334.19 $44,610.84
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 32,515.03 $32,727.69
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 25,184.31 $25,342.54
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 44,937.65 $45,218.83
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 21,463.4 $22,086.49
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 67,203.03 $70,406.42
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 42,615.73 $44,645.03
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83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,468.18 $3,345.16
83401LAB0 SOFI 2015-A A2 2.42000 03/25/2030 US 27,497.3 $27,113.88
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 30,326.26 $29,469.09
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 1,301.48 $1,291.61
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 9,710.38 $9,445.87
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 4,640.77 $4,614.59
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 1,986.17 $1,968.62
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 16,874.14 $16,780.70
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 8,676.17 $8,583.52
835495102 SONOCO PRODUCTS CO US SON 218.11 $12,550.05
84265V105 SOUTHERN COPPER CORPORATION US SCCO 38.69 $1,295.32
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 107,053.28 $108,880.25
844741108 SOUTHWEST AIRLS CO US LUV 70.59 $3,854.76
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 10,487.15 $10,054.56
85254J102 STAG INDUSTRIAL INC US STAG 261.08 $6,994.35
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 91,756.52 $91,768.02
862121100 STORE CAPITAL CORP US STOR 60.45 $1,810.93
866674104 SUN COMMUNITIES US SUI 76 $7,911.70
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 249.04 $3,800.30
867914103 SUNTRUST BANKS INC US STI 50.42 $3,160.78
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 418.74 $15,740.49
874080104 TAL EDUCATION GROUP - ADR CN TAL 19.88 $558.15
87612E106 TARGET CORP US TGT 78.43 $5,565.39
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 21,840.52 $21,753.35
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 7,102.12 $6,587.21
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 3,782.27 $3,386.27
882508104 TEXAS INSTRUMENTS INC US TXN 99.42 $9,927.02
88579Y101 3M CO US MMM 72.01 $14,971.53
88650V208 TIER REIT INC US TIER 273.4 $6,435.74
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 96,625.13 $93,817.22
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 90,940.43 $87,364.98
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,396.71 $48,891.42
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 9,532.74 $9,151.43
902653104 UDR INC US UDR 183.06 $7,802.03
902973304 U.S. BANCORP US USB 165.52 $9,014.47
903002103 UMH PROPERTIES INC US UMH 139.11 $1,812.57
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 4,529.22 $4,345.24
904767704 UNILEVER PLC - ADR GB UL 1,935.21 $105,062.40
907818108 UNION PAC CORP US UNP 74.25 $11,417.71
911312106 UNITED PARCEL SERVICE US UPS 85.15 $9,817.24
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 141,415.24 $184,944.61
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 257,734.51 $315,140.84
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 115,012.04 $103,093.02
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 297,492.71 $254,948.93
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 123,343.85 $116,184.12
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 156,453.4 $153,214.32
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 669,549.76 $667,091.25
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 889,113.62 $871,806.00
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 246,494.26 $233,899.94
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 406,597.52 $370,782.00
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 119,536.56 $111,154.99
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 97,031.54 $93,455.15
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 157,316.59 $150,243.49
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 397,790.25 $379,143.83
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 404,848.14 $392,845.02
913017109 UNITED TECHNOLOGIES CORP US UTX 76.64 $9,337.49
91704F104 URBAN EDGE PROPERTIES US UE 300.84 $5,998.83
91913Y100 VALERO ENERGY US VLO 59.61 $4,762.58
92276F100 VENTAS INC US VTR 61.71 $3,917.82
92339V100 VEREIT INC US VER 429.49 $3,285.58
92343V104 VERIZON COMMUNICATIONS US VZ 168.81 $10,179.32
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 163,538.17 $170,598.46
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 236.77 $42,805.18
92826C839 VISA INC - CLASS A SHARES US V 961.77 $136,292.59
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 7,973.65 $8,094.40
929042109 VORNADO REALTY TRUST US VNO 101.8 $7,325.59
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 5,519.26 $4,994.93
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 5,596.33 $5,680.28
931142103 WAL MART STORES US WMT 216.91 $21,181.74
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 84.41 $7,146.62
94106L109 WASTE MANAGEMENT INC US WM 123.25 $11,554.42
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 3,361.29 $3,168.01
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,455.67 $8,770.14
948741103 WEINGARTEN REALTY INVESTORS US WRI 155.8 $4,496.27
949746101 WELLS FARGO COMPANY US WFC 565.14 $30,676.02
95040Q104 WELLTOWER INC. US WELL 79.01 $5,714.97
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 7,256.26 $7,217.80
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 5,596.33 $5,015.43
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 85,462.41 $79,002.13
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 37,050.1 $36,904.59
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 46,006.77 $44,922.49
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 970.09 $25,532.78
AP0787667 MPC CONTAINER SHIPS FLT 7.11638 09/22/2022 NL 3,082.83 $3,042.29
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 10,884.39 $10,394.59
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 104.82 $1,042.47
B00FV12 ISHARES FTSE 250 IE 163.7 $3,711.56
B02J639 ADMIRAL GROUP PLC GB ADM LN 26.36 $701.42
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 108.67 $1,012.23
B058TZ6 SAFRAN SA FR SAF FP 5.24 $655.99
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 40.08 $613.87
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 3.16 $659.67
B0C2CQ3 ENGIE FR ENGI FP 29.13 $410.65
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 39.92 $403.67
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 38.54 $1,621.50
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 15.72 $810.30
B15C557 TOTAL SA FR FP FP 41 $2,280.51
B19NLV4 EXPERIAN PLC GB EXPN LN 28.13 $686.26
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 148.52 $2,444.59
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 118.69 $531.41
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 29.9 $1,492.44
B1XH026 VINCI SA FR DG FP 27.13 $2,367.27
B1Y9TB3 DANONE FR BN FP 39.38 $2,940.57
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 246.63 $1,130.14
B1YXBJ7 AIR LIQUIDE FR AI FP 7.09 $858.13
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 29.29 $1,091.39
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 11.48 $955.90
B283W97 CAIXABANK S.A ES CABK SM 336.72 $1,390.95
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 303.66 $1,384.49
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 495.46 $943.46
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 273.01 $2,584.94
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 12,840.71 $9,669.80
B3NB1P2 SUNCOR ENERGY INC CA SU CN 43.62 $1,406.51
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 33.91 $403.48
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 73,808.36 $3,448.59
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 16,006.42 $12,266.15
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 6.17 $262.49
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 143,821.26 $6,572.80
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 354.52 $279.88
B4R2R50 JULIUS BAER CH BAER SW 37.07 $1,495.25
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 41.62 $459.77
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 1,942.18 $613.82
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 28,100.18 $20,529.78
B607XS1 VERMILION ENERGY INC CA VET CN 51.56 $1,282.94
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 216,146.29 $10,539.62
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 205.39 $2,132.00
B63QM77 NEXON CO LTD JP 3659 JP 151.06 $1,795.99
B68XHC3 NORTHLAND POWER INC CA NPI CN 161.34 $2,712.81
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 41,557.46 $1,799.38
B8FMRX8 COLOPLAST-B DK COLOB DC 13.72 $1,309.78
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 49.33 $361.23
BB22L96 KION GROUP AG DE KGX GR 25.13 $1,421.82
BBG00MBFLVG6 QRVO US 12/21/18 C67.5 US -5.04 -$806.64
BBG00MCR9B13 BABA US 12/07/18 C165 CN -1.58 -$347.45
BBG00MD5C001 NOW US 12/07/18 C205 US -1.26 -$12.60
BBG00MHMRQ16 GOOG US 12/28/18 C1110 US -.23 -$450.81
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 38.3 $987.11
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 27.75 $308.59
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 1,633.9 $714.46
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 17,661.43 $17,219.90
BD9Y9B7 BASIC-FIT NV NL BFIT NA 33.06 $992.73
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 1,603.07 $660.21
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 4,516.34 $5,748.59
BDZV116 EPIROC AB-A SE EPIA SS 133.49 $1,093.70
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 72.45 $316.61
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 11,785.48 $10,783.71
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 29.38 $5,049.53
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 69.36 $505.83
BG7ZWY7 AMBEV SA BR ABEV3 BZ 228.13 $998.18
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,986.54 $3,058.60
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 2,111.74 $1,611.97
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,901.04 $115,979.51
BNGN9Z1 FINECOBANK SPA IT FBK IM 101.35 $1,089.65
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 2,047.21 $62,921.12
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 55.49 $1,531.04
BSQXJ01 THULE GROUP AB/THE SE THULE SS 71.37 $1,336.81
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 538.8 $1,334.71
BYQ32R1 NEMAK SAB DE CV MX 1,337.95 $959.07
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 2,497.09 $1,051.75
BYXS699 QIAGEN N.V. NL QIA GR 32.37 $1,145.51
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,428.9 $109,783.10
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 180.19 $837.87
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 11.19 $697.43
BZ3C3Q4 BANKIA SA ES BKIA SM 428.3 $1,417.68
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 81.85 $684.68
G02602103 AMDOCS LTD GG DOX 44.39 $2,881.53
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 20.96 $831.82
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 20.27 $983.89
G27358103 DESPEGAR.COM CORP AR DESP 26.28 $392.64
G3157S106 ENSCO INTERNATIONAL INC US ESV 3,856.02 $21,863.63
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 9,829.15 $10,173.17
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 199.44 $6,936.39
G5960L103 MEDTRONIC INC IE MDT 1,611.8 $157,199.10
G84720104 STERIS PLC GB STE 8.71 $1,037.07
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 20.17 $3,215.74
G97822103 PERRIGO CO PLC IE PRGO 34.99 $2,179.18
H1467J104 CHUBB LTD CH CB 32.12 $4,295.59
H8817H100 TRANSOCEAN LTD US RIG 2,474.1 $22,959.61
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 12.33 $1,378.76
N22717107 CORE LABORATORIES N.V. NL CLB 10.94 $909.56
N47279109 INTERXION HOLDING NV NL INXN 1,361.04 $84,752.04
N53745100 LYONDELLBASELL INDU-CL A US LYB 48.78 $4,551.29
N72482123 QIAGEN N.V. ADR NL QGEN 22.66 $803.03
USD US DOLLAR US 368,235.9 $368,235.90

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Moderate Term CIT Fund and Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

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 life cycle 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

$13.39

Daily $ Change

$0.00

Daily % Change

0.00%

as of 12/11/2018

CUSIP

302027685

Inception Date

08/03/2012

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a moderately conservative mix of securities that seeks a more stable rate of growth than that of the stock market by placing a greater emphasis on bonds to help maintain stability. The portfolio is diversified primarily among fixed income securities, with a focus on intermediate maturities. Stock exposure can range from 18% - 54%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who may have stopped contributions and started periodic withdrawals around the year 2015
  • Who currently have a moderately low tolerance for risk and are looking to minimize extreme declines in account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 11/30/2018

YTD

-0.44%

1 Year

0.37%

3 Year

3.83%

5 Year

3.06%

10 Year

7.09%

Inception
(01/01/2000)

6.18%

US Stock Market Cycle (04/01/2000 - 11/30/2018)

6.11%

Performance through the inception date of the Retirement Target CIT Class I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I 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 0.73%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 13.60%
GOVERNMENT AGENCY 7.89%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.82%
TREASURY BONDS 4.82%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.12%
JOHNSON & JOHNSON 1.02%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.02%
NOVARTIS AG- REG 1.01%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.95%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.95%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2018

Bonds
66.32%
Stocks
31.68%
Cash
2.00%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities
9.48%
Small Capitalization
0.71%
Mid Capitalization
2.76%
Large Capitalization
18.72%
Long Term Fixed Income
20.69%
Intermediate Term Fixed Income
29.45%
Short Term Fixed Income
16.19%
Cash
2.00%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 262.03 $5,313.99
00101JAM8 ADT CORP 5.25000 03/15/2020 US 3,628.13 $3,655.34
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 112,353.21 $108,298.26
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 204,052.53 $201,604.89
00287Y109 ABBVIE INC US ABBV 128.18 $12,083.25
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 17,399.76 $17,747.75
004239109 ACADIA REALTY TRUST US AKR 62.71 $1,797.89
0045614 ANTOFAGASTA PLC GB ANTO LN 240.85 $2,471.53
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 109,780.32 $106,860.00
008492100 AGREE REALTY CORP US ADC 39.42 $2,348.44
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 4,837.5 $4,945.49
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 15.34 $1,909.40
01609W102 ALIBABA GROUP - ADR CN BABA 344.88 $55,477.03
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 6,432.23 $6,432.23
020002101 ALLSTATE CORPORATION US ALL 31.37 $2,798.07
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 6,112.07 $6,094.90
02079K107 ALPHABET INC-CL C US GOOG 73.84 $80,816.79
02079K305 ALPHABET INC-CL A US GOOGL 42.44 $47,088.35
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 1,926.77 $1,859.33
023135106 AMAZON.COM INC US AMZN 26.16 $44,208.07
02319V103 AMBEV SA-ADR BR ABEV 10,957.08 $46,786.73
0237400 DIAGEO PLC GB DGE LN 3,114.16 $112,462.58
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 4,837.5 $4,867.74
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 46.77 $2,049.86
0263494 BAE SYSTEMS PLC GB BA/ LN 237.22 $1,491.26
02665T306 AMERICAN HOMES 4 RENT- A US AMH 367.39 $7,652.83
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 120,202.28 $113,474.40
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 5,596.33 $5,414.45
03027X100 AMERICAN TOWER REIT INC US AMT 333.98 $54,936.53
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374297109 GETTY REALTY CORP US GTY 112.79 $3,450.30
375558103 GILEAD SCIENCES INC US GILD 135.35 $9,736.92
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 13,160.87 $12,782.50
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 53,629.82 $50,029.52
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 845.18 $10,133.67
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 6,046.88 $5,744.54
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 6.55 $456.08
4012250 AIRBUS SE FR AIR FP 9.48 $1,016.65
40414L109 HCP INC US HCP 212.97 $6,231.63
4057808 L'OREAL FR OR FP 6.24 $1,473.07
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 4.47 $1,279.51
4162791 THALES SA FR HO FP 1.46 $179.72
4163437 CAP GEMINI FR CAP FP 2.39 $278.97
421946104 HEALTHCARE REALTY TRUST INC US HR 253.97 $7,873.16
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 360.26 $10,130.39
42809H107 HESS CORP US HES 149.02 $8,030.53
437076102 HOME DEPOT INC US HD 89.78 $16,189.79
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 207.65 $5,849.58
438516106 HONEYWELL INTERNATIONAL INC US HON 72.23 $10,599.79
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 4,624.24 $4,832.33
44107P104 HOST MARRIOTT CORP US HST 333.81 $6,342.41
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 9,906.22 $9,237.55
446150104 HUNTINGTON BANCSHARES US HBAN 128.1 $1,869.01
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 9,532.74 $9,103.77
45337C102 INCYTE CORP US INCY 1,494.63 $96,029.74
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 275.95 $2,787.05
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 7,890.51 $7,594.61
458140100 INTEL CORP US INTC 748.22 $36,894.83
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 603.37 $49,307.58
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 80.6 $10,015.68
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 119,532.39 $120,801.71
46187BAA1 IHSFR 2017-SFR2 A 3.15250 12/17/2036 US 19,599.6 $19,575.23
46187BAB9 IHSFR 2017-SFR2 B 3.45250 12/17/2036 US 14,974.94 $15,072.71
46187W107 INVITATION HOMES INC US INVH 319.37 $6,853.74
464286624 ISHARES MSCI THAILAND ETF TH 45.09 $3,887.79
464287739 ISHARES DJ US REAL ESTATE US 3.02 $247.26
466032109 J&J SNACK FOODS CORP US JJSF 45.56 $7,147.64
46625H100 JP MORGAN CHASE & CO US JPM 357.94 $39,799.30
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 169,430.91 $171,482.68
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 3,281.71 $3,311.06
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 25,876.62 $24,670.72
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 30,265.33 $29,233.22
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 36,704.17 $36,142.16
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 86,980.06 $86,719.02
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 56,195.5 $55,013.09
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 26,582.02 $26,006.76
4682329 PERNOD-RICARD SA FR RI FP 6.17 $985.67
4712798 RENAULT SA FR RNO FP 3.78 $265.83
4741844 MERCK KGAA DE MRK GR 921.8 $102,042.25
476405105 JERNIGAN CAPITAL INC US JCAP 343.33 $7,340.50
478160104 JOHNSON & JOHNSON US JNJ 1,260.68 $185,194.48
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 10,872.51 $8,045.66
4821100 SOLVAY SA BE SOLB BB 18.96 $2,053.90
4834108 SCHNEIDER ELECTRIC SE FR SU FP 9.17 $668.51
4834777 VIVENDI FR VIV FP 15.26 $380.62
485170302 KANSAS CITY SOUTHERN US KSU 86.27 $8,890.43
493267108 KEYCORP US KEY 261.06 $4,787.84
49446R109 KIMCO REALTY CORP US KIM 166.13 $2,716.21
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 146,476.51 $162,596.75
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 120.04 $4,555.34
500754106 KRAFT HEINZ CO/THE US KHC 115.03 $5,880.37
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 7,938.02 $7,173.98
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 5,056.84 $4,791.36
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 6,805.71 $6,958.84
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 73.65 $73.50
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 5,288.05 $5,288.05
5107401 BEIERSDORF AG DE BEI GR 13.49 $1,447.86
5176177 ORANGE FR ORA FP 30.83 $529.95
5253973 HERMES INTERNATIONAL FR RMS FP .46 $250.36
5263574 FLSMIDTH & CO A/S DK FLS DC 3.85 $193.30
529043101 LEXINGTON REALTY TRUST US LXP 332.54 $2,919.72
531172104 LIBERTY PROPERTY TRUST US LPT 153.84 $6,967.40
532457108 ELI LILLY & CO US LLY 160.52 $19,044.10
5330047 DASSAULT SYSTEMES SA FR DSY FP 2.31 $278.00
534187109 LINCOLN NATL CORP IND US LNC 41.83 $2,633.99
53815P108 LIVERAMP HOLDINGS INC US RAMP 1,550.81 $73,353.29
539830109 LOCKHEED MARTIN CORP US LMT 26.52 $7,966.44
5458314 AKZO NOBEL NL AKZA NA 31.21 $2,622.94
5474008 BANKINTER S.A. ES BKT SM 178.65 $1,495.81
550021109 LULULEMON - ADR CA LULU 711.06 $94,250.44
5505072 KERING FR KER FP 1.31 $570.31
554382101 THE MACERICH CO US MAC 24.86 $1,250.08
5545670 JUNGHEINRICH AG DE JUN3 GR 29.06 $971.14
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 51,801.52 $54,803.49
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 10,214.5 $9,652.71
5596991 UCB SA BE UCB BB 11.41 $961.27
56585A102 MARATHON PETROLEUM CORP US MPC 67.38 $4,390.16
5669354 REPSOL SA ES REP SM 137.11 $2,361.89
5671519 WOLTERS KLUWER NL WKL NA 11.33 $684.93
5671735 SANOFI-AVENTIS FR SAN FP 115.8 $10,498.61
5701513 ELISA OYJ FI ELISA FH 16.11 $646.73
5713422 METSO OYJ FI METSO FH 37.07 $1,061.00
5727973 SIEMENS AG-REG DE SIE GR 16.8 $1,955.28
57636Q104 MASTERCARD INC-CLASS A US MA 773.64 $155,556.02
580135101 MCDONALDS CORP US MCD 70.36 $13,264.11
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 4,837.5 $4,818.15
58933Y105 MERCK & CO INC US MRK 1,189.78 $94,396.84
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 4,232.82 $3,724.88
594918104 MICROSOFT CORP US MSFT 1,429.71 $158,540.24
59522J103 MID-AMERICA APARTMENT COMM US MAA 59 $6,110.50
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW .2 $1,367.26
5966516 SOCIETE GENERALE FR GLE FP 12.79 $469.85
5980613 GIVAUDAN - REG CH GIVN SW .31 $761.13
60871R209 MOLSON COORS BREWING CO -B US TAP 46.31 $3,045.88
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 2,463.62 $110,813.65
6136749 OBIC CO LTD JP 4684 JP 16.96 $1,470.30
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 155,843.24 $154,832.73
6175076 KT&G CORP KR 033780 KS 7.63 $707.97
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 23.12 $1,584.17
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 9,378.6 $9,402.05
624758108 MUELLER WATER PRODUCTS INC - A US MWA 384.31 $4,046.75
6264189 NCSOFT CORP KR 036570 KS 2.31 $1,060.41
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 6,201.02 $5,518.91
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 1,757.21 $1,504.18
6307200 EISAI CO LTD JP 4523 JP 10.79 $993.59
6332439 FAST RETAILING CO LTD JP 9983 JP 1.54 $803.56
6356934 FANUC LTD JP 6954 JP 6.71 $1,153.23
637417106 NATIONAL RETAIL PROPERTIES US NNN 70.11 $3,509.62
637870106 NATIONAL STORAGE AFFILIATES US NSA 53.95 $1,508.92
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 5,133.91 $5,159.58
64110W102 NETEASE.COM INC- ADR CN NTES 1.77 $402.51
6441506 HOYA CORP JP 7741 JP 16.96 $1,036.31
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 9.4 $1,110.75
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 12.18 $1,188.07
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 25.2 $1,440.55
6482903 KANAMOTO CO LTD JP 9678 JP 29.29 $863.80
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 35,604.48 $35,575.85
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 44,433.99 $44,315.66
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 62,353.06 $62,076.02
6490809 KIKKOMAN CORP JP 2801 JP 24.66 $1,443.71
6490995 KEYENCE CORP JP 6861 JP 7.4 $4,030.45
651229106 NEWELL BRANDS INC US NWL 356.67 $8,346.07
6518808 LION CORP JP 4912 JP 52.41 $1,035.47
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 554.91 $1,102.64
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 26.2 $1,424.01
6642387 YAMAHA CORP JP 7951 JP 32.37 $1,395.66
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 9,378.6 $9,284.82
6683449 KANGWON LAND INC KR 035250 KS 25.74 $741.14
66987V109 NOVARTIS AG- REG CH NVS 1,991.54 $182,285.24
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 1,541.41 $1,563.02
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 16.81 $5,828.13
6742340 SHANDONG WEIGAO CN 1066 HK 986.5 $930.06
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 64.74 $1,168.06
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 81.08 $538.45
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 43.16 $741.45
6791591 SECOM CO LTD JP 9735 JP 7.71 $652.68
680223104 OLD REPUBLIC INTL CORP US ORI 152.38 $3,436.13
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 53,651.22 $53,197.80
6865504 SUZUKI MOTOR CORP JP 7269 JP 29.29 $1,461.21
6885074 TERUMO CORP JP 4543 JP 26.2 $1,545.19
6895200 TOHO CO LTD JP 9602 JP 20.04 $698.22
6911485 UNICHARM CORP JP 8113 JP 33.91 $1,061.96
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 739.88 $1,430.18
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 8,311.49 $8,249.16
693475105 PNC FINANCIAL SERVICES GROUP US PNC 23.53 $3,194.77
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 59.58 $1,357.88
6985112 YAKULT HONSHA CO LTD JP 2267 JP 18.5 $1,398.92
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 35.45 $653.97
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 9,135.51 $8,884.29
7021963 DEUTSCHE BOERSE AG DE DB1 GR 6.4 $819.39
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 156.11 $3,229.98
7062713 SODEXO FR SW FP 6.55 $677.97
7088429 AXA SA FR CS FP 34.14 $831.44
7103065 NOVARTIS AG-REG CH NOVN SW 29.52 $2,695.04
7103526 PEUGEOT SA FR UG FP 7.94 $174.66
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 9.09 $2,360.75
7110902 TECAN GROUP AG-REG CH TECN SW 2.31 $476.22
7123870 NESTLE SA-REGISTERED CH NESN SW 1,201.77 $102,526.99
7133608 EQUINOR ASA NO EQNR NO 60.27 $1,411.80
713448108 PEPSICO INC US PEP 993.03 $121,089.85
7145056 ENI SPA IT ENI IM 81.77 $1,319.42
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 4,837.5 $4,468.64
717081103 PFIZER INC US PFE 451.01 $20,850.18
71943U104 PHYSICIANS REALTY TRUST US DOC 644.63 $11,480.85
7212477 ESSILORLUXOTTICA FR EL FP 3.93 $496.97
7262610 CREDIT AGRICOLE SA FR ACA FP 22.27 $276.81
729640102 PLYMOUTH INDUSTRIAL REIT INC US 200.51 $2,528.45
7309681 BNP PARIBAS FR BNP FP 19.42 $976.89
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 6,046.88 $6,039.32
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 7.71 $286.45
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 179,852.87 $170,717.38
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 45.94 $2,265.64
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 22,408.57 $21,661.22
74340W103 PROLOGIS US PLD 224.84 $15,140.53
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 109,934.46 $112,614.66
74460D109 PUBLIC STORAGE INC US PSA 46.69 $9,957.40
74736K101 QORVO INC US QRVO 2,385.68 $157,001.45
756109104 REALTY INCOME CORP US O 29.69 $1,903.15
75886F107 REGENERON PHARMACEUTICALS INC US REGN 139.23 $50,908.68
7591EP100 REGIONS FINANCIAL CORP. US RF 200.18 $3,293.01
76131D103 RESTAURANT BRANDS INTERN CA QSR 14.41 $840.66
767204100 RIO TINTO PLC - SPON ADR GB RIO 132.81 $6,210.11
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 5,608.21 $5,664.29
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 128.89 $7,994.88
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9.37 $771.58
78410G104 SBA COMMUNICATIONS CORP US SBAC 319.99 $54,657.49
78442PGC4 SLM CORP 5.12500 04/05/2022 US 7,552.66 $7,401.61
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 65,358.33 $63,412.46
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 41,851.23 $41,747.73
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 161,581.84 $170,091.08
80105N105 SANOFI-AVENTIS-ADR FR SNY 244.63 $11,093.83
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 109,163.75 $105,686.21
806857108 SCHLUMBERGER LTD NL SLB 1,066.73 $48,109.50
808513105 CHARLES SCHWAB CORP/THE US SCHW 1,041.6 $46,663.58
81141R100 SEA LTD - ADR SG SE 63.51 $847.17
81211K100 SEALED AIR CORP US SEE 2,112.54 $77,171.14
812578102 SEATTLE GENETICS INC US SGEN 1,042.7 $65,251.91
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 30,910.16 $29,047.29
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 42,238.69 $39,852.88
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 33,065.03 $28,945.66
81762P102 SERVICENOW INC US NOW 271.96 $50,385.72
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 6,355.16 $5,910.30
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 5,519.26 $5,174.31
828806109 SIMON PROPERTY GROUP INC US SPG 106 $19,683.90
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 3,893.98 $3,854.83
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,468.18 $3,345.16
83401LAB0 SOFI 2015-A A2 2.42000 03/25/2030 US 27,497.3 $27,113.88
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 30,326.26 $29,469.09
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 1,301.48 $1,291.61
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 9,710.38 $9,445.87
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 4,640.77 $4,614.59
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 1,986.17 $1,968.62
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 16,874.14 $16,780.70
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 8,676.17 $8,583.52
835495102 SONOCO PRODUCTS CO US SON 218.11 $12,550.05
84265V105 SOUTHERN COPPER CORPORATION US SCCO 38.69 $1,295.32
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 107,053.28 $108,880.25
844741108 SOUTHWEST AIRLS CO US LUV 70.59 $3,854.76
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 10,487.15 $10,054.56
85254J102 STAG INDUSTRIAL INC US STAG 261.08 $6,994.35
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 91,756.52 $91,768.02
862121100 STORE CAPITAL CORP US STOR 60.45 $1,810.93
866674104 SUN COMMUNITIES US SUI 76 $7,911.70
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 249.04 $3,800.30
867914103 SUNTRUST BANKS INC US STI 50.42 $3,160.78
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 418.74 $15,740.49
874080104 TAL EDUCATION GROUP - ADR CN TAL 19.88 $558.15
87612E106 TARGET CORP US TGT 78.43 $5,565.39
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 21,840.52 $21,753.35
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 7,102.12 $6,587.21
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 3,782.27 $3,386.27
882508104 TEXAS INSTRUMENTS INC US TXN 99.42 $9,927.02
88579Y101 3M CO US MMM 72.01 $14,971.53
88650V208 TIER REIT INC US TIER 273.4 $6,435.74
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 96,625.13 $93,817.22
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 90,940.43 $87,364.98
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,396.71 $48,891.42
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 9,532.74 $9,151.43
902653104 UDR INC US UDR 183.06 $7,802.03
902973304 U.S. BANCORP US USB 165.52 $9,014.47
903002103 UMH PROPERTIES INC US UMH 139.11 $1,812.57
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 4,529.22 $4,345.24
904767704 UNILEVER PLC - ADR GB UL 1,935.21 $105,062.40
907818108 UNION PAC CORP US UNP 74.25 $11,417.71
911312106 UNITED PARCEL SERVICE US UPS 85.15 $9,817.24
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 141,415.24 $184,944.61
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 257,734.51 $315,140.84
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 115,012.04 $103,093.02
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 297,492.71 $254,948.93
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 123,343.85 $116,184.12
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 156,453.4 $153,214.32
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 669,549.76 $667,091.25
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 889,113.62 $871,806.00
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 246,494.26 $233,899.94
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 406,597.52 $370,782.00
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 119,536.56 $111,154.99
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 97,031.54 $93,455.15
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 157,316.59 $150,243.49
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 397,790.25 $379,143.83
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 404,848.14 $392,845.02
913017109 UNITED TECHNOLOGIES CORP US UTX 76.64 $9,337.49
91704F104 URBAN EDGE PROPERTIES US UE 300.84 $5,998.83
91913Y100 VALERO ENERGY US VLO 59.61 $4,762.58
92276F100 VENTAS INC US VTR 61.71 $3,917.82
92339V100 VEREIT INC US VER 429.49 $3,285.58
92343V104 VERIZON COMMUNICATIONS US VZ 168.81 $10,179.32
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 163,538.17 $170,598.46
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 236.77 $42,805.18
92826C839 VISA INC - CLASS A SHARES US V 961.77 $136,292.59
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 7,973.65 $8,094.40
929042109 VORNADO REALTY TRUST US VNO 101.8 $7,325.59
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 5,519.26 $4,994.93
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 5,596.33 $5,680.28
931142103 WAL MART STORES US WMT 216.91 $21,181.74
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 84.41 $7,146.62
94106L109 WASTE MANAGEMENT INC US WM 123.25 $11,554.42
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 3,361.29 $3,168.01