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

$10.79

Daily $ Change

$0.00

Daily % Change

0.00%

as of 01/16/2019

CUSIP

56382R878

Inception Date

05/14/2015

This fund is available only 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 12/31/2018

YTD

---

1 Year

-2.12%

3 Year

4.11%

5 Year

2.61%

10 Year

6.95%

Inception
(01/01/2000)

6.26%

US Stock Market Cycle (04/01/2000 - 12/31/2018)

6.18%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.56%
Net 0.49%*

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

Top Ten Investments

As of 12/31/2018

TREASURY NOTES 12.85%
GOVERNMENT AGENCY 8.22%
TREASURY BONDS 5.24%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 5.02%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.16%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.07%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 1.01%
VERIZON COMMUNICATIONS 5.50000 03/16/2047 1.00%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.99%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.99%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2018

Bonds 68.68%
Stocks 30.43%
Cash 0.89%

Detailed Asset Class Allocation

As of 12/31/2018

International Equities 9.11%
Small Capitalization 1.08%
Mid Capitalization 2.86%
Large Capitalization 17.37%
Long Term Fixed Income 21.49%
Intermediate Term Fixed Income 29.69%
Short Term Fixed Income 17.51%
Cash 0.89%

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

December Fund Holdings

As of 12/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 256.92 $4,884.13
00101JAH9 ADT SEC CORP 4.12500 06/15/2023 US 7,587.53 $6,942.59
00101JAM8 ADT CORP 5.25000 03/15/2020 US 3,543.69 $3,552.55
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 109,776.21 $107,400.62
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 199,313.25 $197,302.83
00287Y109 ABBVIE INC US ABBV 125.68 $11,586.35
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 16,966.1 $17,178.18
004239109 ACADIA REALTY TRUST US AKR 61.26 $1,455.51
0045614 ANTOFAGASTA PLC GB ANTO LN 233.77 $2,338.05
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 107,264.13 $101,830.47
008492100 AGREE REALTY CORP US ADC 38.52 $2,277.07
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 4,724.93 $4,837.46
013817AW1 ALCOA INC 5.12500 10/01/2024 US 5,599.1 $5,375.19
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 14.98 $1,726.52
01609W102 ALIBABA GROUP - ADR CN BABA 16.23 $2,225.05
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 6,280.19 $6,280.19
020002101 ALLSTATE CORPORATION US ALL 30.76 $2,541.75
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 5,973.13 $5,969.40
02079K107 ALPHABET INC-CL C US GOOG 72.01 $74,570.71
02079K305 ALPHABET INC-CL A US GOOGL 41.37 $43,225.62
023135106 AMAZON.COM INC US AMZN 25.5 $38,297.69
02319V103 AMBEV SA-ADR BR ABEV 10,679.84 $41,864.98
0237400 DIAGEO PLC GB DGE LN 3,036.07 $108,492.25
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 4,724.93 $4,736.74
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 45.69 $1,890.95
0263494 BAE SYSTEMS PLC GB BA/ LN 230.25 $1,346.72
02665T306 AMERICAN HOMES 4 RENT- A US AMH 359 $7,126.10
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 117,446.38 $113,495.73
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 5,465.15 $5,137.25
03027X100 AMERICAN TOWER REIT INC US AMT 325.57 $51,502.21
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 3,240.06 $3,262.93
03064D108 AMERICOLD REALTY TRUST US COLD 68.05 $1,737.92
031162100 AMGEN INC US AMGN 61.89 $12,047.62
03748R101 APARTMENT INVT & MGMT CO -A US AIV 112.55 $4,938.78
037833100 APPLE COMPUTER INC US AAPL 46.14 $7,278.26
03784Y200 APPLE HOSPITALITY REIT INC US APLE 104.81 $1,494.55
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 4,724.93 $4,361.67
03990B101 ARES MANAGEMENT CORP - A US ARES 227.04 $4,036.82
0405207 HALMA PLC GB HLMA LN 61.42 $1,069.89
0490656 KERRY GROUP PLC-A IE KYGA LN 18.63 $1,830.04
053015103 AUTOMATIC DATA PROCESSING US ADP 51.27 $6,722.21
053484101 AVALONBAY COMMUNITIES INC US AVB 89.2 $15,525.16
055622104 BP PLC-SPONS ADR GB BP 240.59 $9,123.24
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 59,844.87 $57,992.11
058498106 BALL CORP US BLL 2,349.34 $108,022.62
060505104 BANK OF AMERICA CORP US BAC 617.78 $15,221.98
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 172,484.1 $168,024.73
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 317.21 $64,768.50
088606108 BHP GROUP LTD AU BHP 172.55 $8,332.55
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 496.64 $42,289.07
0922320 SMITH & NEPHEW PLC GB SN/ LN 74.81 $1,400.27
09247X101 BLACKROCK INC US BLK 64.84 $25,470.78
09253U108 BLACKSTONE GROUP LP/THE US BX 190.06 $5,665.58
0946580 WEIR GROUP PLC/THE GB WEIR LN 143.78 $2,380.84
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 158,907.77 $164,171.11
097023105 BOEING CO US BA 45.63 $14,715.10
09857L108 BOOKING HOLDINGS INC US BKNG 76.64 $132,014.08
0989529 ASTRAZENECA PLC GB AZN LN 89.72 $6,697.12
101121101 BOSTON PROPERTIES INC US BXP 84.21 $9,477.85
105368203 BRANDYWINE REALTY TRUST US BDN 457.69 $5,890.50
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,151.39 $59,849.42
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 22.74 $724.53
11135F101 BROADCOM INC US AVGO 29.88 $7,598.32
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 5,831.35 $5,605.39
12503M108 CBOE GLOBAL MARKETS INC US CBOE 423.71 $41,451.20
12572Q105 CME GROUP INC US CME 247.66 $46,588.97
125896100 CMS ENERGY CORP US CMS 120.11 $5,963.60
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 53,860.38 $54,616.54
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 114,201.91 $113,345.40
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 28,426.31 $28,994.82
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 62,837.11 $62,333.15
126307AU1 CSC HOLDINGS LLC 5.50000 05/15/2026 US 1,870.15 $1,762.62
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 51,956.5 $48,995.91
126650100 CVS HEALTH CORP US CVS 97.56 $6,391.81
133131102 CAMDEN PROPERTY TRUST US CPT 18.38 $1,618.01
13321L108 CAMECO CORP CA CCJ 77.74 $882.33
149123101 CATERPILLAR INC US CAT 41.82 $5,314.04
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 3,540.84 $3,520.92
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 48,013.35 $48,044.43
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 10,922.48 $9,611.78
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 50,246.4 $49,719.74
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 26,746.74 $26,456.88
165240102 CHESAPEAKE LODGING TRUST US CHSP 91.61 $2,230.68
166764100 CHEVRON CORP US CVX 78.73 $8,565.31
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 109.27 $7,714.70
17275R102 CISCO SYSTEMS INC US CSCO 353.89 $15,334.20
172967424 CITIGROUP INC US C 223.75 $11,648.25
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 60,061.87 $83,326.86
191216100 COCA COLA CO/THE US KO 1,861.97 $88,164.30
194162103 COLGATE-PALMOLIVE CO US CL 166.55 $9,912.86
199908104 COMFORT SYSTEMS US FIX 76.17 $3,327.07
20030N101 COMCAST CORP-CL A US CMCSA 287.32 $9,783.20
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 19.37 $963.77
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 263.12 $7,585.82
2099084 BORALEX INC -A CA BLX CN 161.13 $1,987.53
2162760 CAE INC CA CAE CN 34.86 $640.66
21871N101 CORECIVIC INC US CXW 365.19 $6,511.28
222795106 COUSINS PROPERTIES INC US CUZ 853.14 $6,739.82
22282E102 COVANTA HOLDING CORP US CVA 449.69 $6,034.85
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 5,240.74 $4,690.46
2242059 FOMENTO ECONOMICO EXICA-UBD MX 101.74 $874.80
22822V101 CROWN CASTLE INTL CORP US CCI 99.12 $10,767.37
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 35,899.57 $33,471.63
229663109 CUBESMART US CUBE 48.56 $1,393.31
2306814 EL PUERTO DE LIVERPOOL -C1 MX 197.94 $1,270.91
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 40.4 $484.55
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 3,543.69 $3,556.98
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 43.76 $353.89
23918K108 DAVITA INC. US DVA 975.09 $50,177.90
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 8,044.2 $7,300.11
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 243.49 $485.71
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 278.28 $706.75
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 157.09 $489.63
247361702 DELTA AIR LINES INC. US DAL 75.07 $3,746.02
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 58.35 $296.58
25271C102 DIAMOND OFFSHORE DRILLING US DO 1,412.53 $13,334.26
253868103 DIGITAL REALTY TRUST INC US DLR 132.99 $14,169.92
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 2,693.02 $2,682.98
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 117,595.99 $108,075.16
256677105 DOLLAR GENERAL CORP US DG 76.9 $8,311.51
2583952 METRO INC CA MRU CN 19.97 $692.60
26078J100 DOWDUPONT INC US DWDP 128.61 $6,877.99
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 11,662.7 $11,458.61
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 11,961.93 $11,333.93
269246401 ETRADE FINANCIAL CORP US ETFC 474.4 $20,816.84
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,391.66 $29,296.95
277276101 EASTGROUP PROPERTIES US EGP 13.28 $1,218.63
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 1,276.19 $23,098.91
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 88.27 $493.65
285512109 ELECTRONIC ARTS US EA 817.62 $64,518.62
2866857 LUNDIN MINING CORP CA LUN CN 329 $1,359.17
291011104 EMERSON ELEC CO US EMR 81.74 $4,883.68
29444U700 EQUINIX INC US EQIX 209.58 $73,889.55
2945422 WEG SA BR WEGE3 BZ 58.35 $264.06
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 40.57 $3,940.71
29476L107 EQUITY RESIDENTIAL US EQR 159.12 $10,503.23
297178105 ESSEX PROPERTY TRUST INC US ESS 26.73 $6,553.81
30161N101 EXELON CORP US EXC 84.59 $3,815.08
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 183,464.93 $181,548.27
30225T102 EXTRA SPACE STORAGE INC US EXR 40.22 $3,639.20
30231G102 EXXON MOBIL CORP US XOM 301.75 $20,576.11
302491303 FMC CORP US FMC 108.76 $8,043.94
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 5,091.94 $5,068.08
30261UAJ3 FREMF 2013-K713 B 3.15423 04/25/2046 US 17,953.46 $17,914.92
30262DAL5 FREMF 2011-K13 B 4.61155 01/25/2048 US 30,028.2 $30,811.95
30262SAR9 FREMF 2015-K42 B FLT 3.85144 12/25/2024 US 13,183.11 $13,069.56
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 6,571.58 $6,243.00
30286XAN9 FREMF 2015-K43 B FLT 3.73421 02/25/2048 US 34,410.8 $33,896.38
30287EAE0 FREMF 2014-K41 B FLT 3.83211 11/25/2047 US 51,267.65 $51,686.83
30290HAE8 FREMF 2012-K708 FLT 3.71816 02/25/2045 US 23,937.95 $23,881.79
30291EAE4 FREMF 2013-K712 B FLT 3.35784 05/25/2045 US 94,324.25 $94,230.00
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 2,374,735.11 $7,849.45
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 865.5 $873.78
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 712.85 $777.43
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,542.36 $1,661.00
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 5,450.91 $5,834.35
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 12,329.66 $13,229.33
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 281.79 $302.78
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 1,582.94 $1,711.70
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 3,330.59 $3,638.31
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 3,770.54 $4,047.86
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 9,627.76 $10,504.85
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 1,469.91 $1,573.43
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 4,583.6 $5,005.80
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 3,327.69 $3,588.60
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 6,524.09 $6,712.82
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 782.72 $800.73
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 220.5 $226.29
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 179.66 $185.45
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 732.31 $755.05
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 78,377.36 $81,477.34
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 10,516.86 $11,237.58
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 3,546.3 $3,705.30
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 36,274.89 $37,982.00
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 11,511.7 $11,764.98
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 43,130.24 $43,991.72
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 41,312.1 $42,815.59
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 10,603.2 $10,841.92
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 593.82 $596.88
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 47,228.68 $47,615.90
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 4,098.52 $4,413.50
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 415.55 $422.79
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 7,460.2 $8,034.87
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 523.43 $563.14
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 13.88 $1,637.87
3137A2B34 FHMS K009 X1 FLT 1.27536 08/25/2020 US 242,236.1 $3,921.58
3137ADTK3 FHMS K014 X1 FLT 1.14906 04/25/2021 US 905,798.41 $20,730.74
3137AJMG6 FMHS K016 X1 FLT 1.49170 10/25/2021 US 236,496 $8,292.05
3137AUPF0 FHMS K021 x1 FLT 1.44399 06/25/2022 US 1,392,844.52 $58,422.58
3137B3NB0 FHMS K030 X1 FLT 0.19689 04/25/2023 US 2,915,203.25 $21,976.55
3137B4GZ3 FHMS K032 X1 FLT 0.10362 05/25/2023 US 1,749,636.31 $8,156.63
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 59,884.91 $61,653.72
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 59,757.81 $62,206.24
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 21,149.31 $22,068.18
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,428.05 $3,590.34
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 2,308.03 $2,390.43
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 1,935.65 $2,026.58
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 7,913.92 $8,281.62
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 27,211.1 $28,500.51
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 82,193.5 $89,038.53
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 114,241.79 $114,673.52
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 45,256.39 $47,244.58
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 78,934.6 $79,212.77
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 12,576.15 $13,540.26
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 759.54 $864.42
31406PTV1 FEDERAL NATL MTG ASSN 816064 4.50000 04/01/2020 US 421.71 $429.51
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 9,316.79 $9,529.41
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 19,599.92 $19,658.85
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,794.06 $10,826.52
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 43,394.14 $44,266.54
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 31,576.22 $32,211.21
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 24,401.37 $24,886.44
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 43,989.53 $44,861.72
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 19,485.28 $20,191.33
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 64,955.25 $68,127.16
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 41,130.04 $43,134.41
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 37,570.18 $38,931.48
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83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,366.27 $3,290.46
83401LAB0 SOFI 2015-A A2 2.42000 03/25/2030 US 25,962.68 $25,707.19
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 29,735.24 $29,141.22
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 1,140.51 $1,131.46
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 9,521.14 $9,352.15
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 4,266.36 $4,243.89
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 1,814.26 $1,799.68
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 14,533.78 $14,461.26
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 8,100.26 $8,029.37
835495102 SONOCO PRODUCTS CO US SON 213.86 $11,362.35
84265V105 SOUTHERN COPPER CORPORATION US SCCO 37.55 $1,155.50
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 104,602.45 $106,853.90
844741108 SOUTHWEST AIRLS CO US LUV 69.21 $3,216.94
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866674104 SUN COMMUNITIES US SUI 70.33 $7,153.73
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 221.99 $2,888.13
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874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 410.58 $15,154.53
874080104 TAL EDUCATION GROUP - ADR CN TAL 19.3 $514.92
87612E106 TARGET CORP US TGT 157.1 $10,382.66
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 20,455.01 $20,410.59
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,937.78 $6,382.76
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 3,693.31 $3,250.11
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88650V208 TIER REIT INC US TIER 267.08 $5,509.88
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89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 50,255.66 $48,739.04
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 9,308.07 $8,656.51
902653104 UDR INC US UDR 178.83 $7,085.12
902973304 U.S. BANCORP US USB 162.3 $7,417.05
903002103 UMH PROPERTIES INC US UMH 135.89 $1,608.88
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 4,425.7 $4,138.56
904767704 UNILEVER PLC - ADR GB UL 1,887.48 $98,620.98
907818108 UNION PAC CORP US UNP 72.8 $10,063.15
911312106 UNITED PARCEL SERVICE US UPS 83.49 $8,143.08
912796QY8 TREASURY BILL 0.00000 02/21/2019 US 84,852.06 $84,573.64
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 138,116.6 $185,232.70
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 251,544.27 $320,591.21
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 112,577.38 $102,134.65
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 290,055.93 $262,863.19
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 119,719.66 $119,205.24
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 151,856.36 $152,639.37
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 655,715.61 $653,871.41
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 870,040.36 $850,475.78
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 241,690.37 $233,051.83
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 397,037.62 $370,764.90
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 42,938.69 $40,608.93
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 94,920.25 $91,678.79
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 152,694.18 $149,497.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 388,466.96 $378,026.91
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 203,972.02 $200,609.67
913017109 UNITED TECHNOLOGIES CORP US UTX 75.14 $8,001.30
91704F104 URBAN EDGE PROPERTIES US UE 263.93 $4,386.47
91913Y100 VALERO ENERGY US VLO 58.45 $4,381.63
92276F100 VENTAS INC US VTR 60.29 $3,532.17
92339V100 VEREIT INC US VER 419.56 $2,999.87
92343V104 VERIZON COMMUNICATIONS US VZ 165.52 $9,305.61
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 159,789.77 $169,922.93
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 230.82 $38,248.45
92826C839 VISA INC - CLASS A SHARES US V 937.75 $123,727.22
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 7,776.31 $7,922.96
929042109 VORNADO REALTY TRUST US VNO 87.24 $5,411.37
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 5,390.35 $4,716.55
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 5,465.15 $5,437.83
931142103 WAL MART STORES US WMT 212.69 $19,811.84
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 82.76 $5,655.03
94106L109 WASTE MANAGEMENT INC US WM 120.85 $10,754.01
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 3,295.78 $3,081.55
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,233.27 $8,471.52
948741103 WEINGARTEN REALTY INVESTORS US WRI 152.19 $3,775.84
949746101 WELLS FARGO COMPANY US WFC 554.13 $25,534.32
95040Q104 WELLTOWER INC. US WELL 77.19 $5,357.74
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 7,087.39 $7,034.23
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 5,465.15 $4,877.65
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 83,505.55 $79,128.01
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 35,690.47 $35,578.70
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 44,571.15 $43,971.46
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 945.57 $21,596.73
AP0787667 MPC CONTAINER SHIPS FLT 7.57163 09/22/2022 NL 2,992.24 $2,916.36
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 10,631.08 $9,833.75
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 101.74 $1,014.54
B00FV12 ISHARES FTSE 250 IE 158.89 $3,382.12
B02J639 ADMIRAL GROUP PLC GB ADM LN 25.58 $667.57
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 105.48 $966.11
B058TZ6 SAFRAN SA FR SAF FP 5.09 $610.09
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 38.9 $555.11
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 3.07 $556.98
B0C2CQ3 ENGIE FR ENGI FP 28.28 $406.28
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 64.18 $702.16
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 37.4 $1,679.37
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 15.26 $791.72
B15C557 TOTAL SA FR FP FP 53.26 $2,809.31
B19NLV4 EXPERIAN PLC GB EXPN LN 27.3 $661.91
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 179.46 $2,825.75
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 115.2 $549.81
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 29.02 $1,341.74
B1XH026 VINCI SA FR DG FP 26.33 $2,165.31
B1Y9TB3 DANONE FR BN FP 38.23 $2,694.26
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 284.26 $1,360.87
B1YXBJ7 AIR LIQUIDE FR AI FP 6.88 $854.60
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 89.02 $643.32
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 28.43 $874.02
B283W97 CAIXABANK S.A ES CABK SM 326.83 $1,183.59
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 294.74 $1,319.67
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 484.01 $840.24
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 267.69 $2,458.86
B2B0DG9 RELX PLC GB REL LN 31.34 $646.32
B3NB1P2 SUNCOR ENERGY INC CA SU CN 82.96 $2,317.07
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 52.36 $624.60
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 71,935.27 $3,493.84
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 15,639.57 $11,783.75
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 5.98 $279.59
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 140,408.33 $6,705.28
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 344.11 $234.90
B4R2R50 JULIUS BAER CH BAER SW 35.98 $1,282.26
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 40.4 $445.04
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 1,885.11 $506.64
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 27,451.88 $20,187.85
B607XS1 VERMILION ENERGY INC CA VET CN 64.03 $1,348.97
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 211,125.56 $10,663.20
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 172.58 $1,799.60
B63QM77 NEXON CO LTD JP 3659 JP 146.62 $1,892.79
B68XHC3 NORTHLAND POWER INC CA NPI CN 158.2 $2,514.56
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 40,595.04 $1,906.25
B8FMRX8 COLOPLAST-B DK COLOB DC 13.32 $1,238.55
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 47.88 $340.81
BBG00DSDL044 JNJ US 01/18/19 P120 US -2.59 -$181.52
BBG00GTMRZX1 AMZN US 01/18/19 P1350 US -.16 -$250.22
BBG00GVZ7LZ0 NOW US 01/18/19 P150 US -2.07 -$207.42
BBG00MN1KNP3 MDT US 01/04/2019 IE -3.61 -$292.77
BBG00MP7WN75 BRKB US 01/11/19 P187.5 US -1.29 -$58.01
BBG00MPHFFH8 LULU US 01/11/19 C132 CA -1.79 -$41.24
BBG00MWSHXF7 MSFT US 01/18/19 P89 US -3.5 -$178.32
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 37.18 $939.21
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 80.04 $681.93
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 1,585.89 $706.19
BD4T6W7 TELEKOMUNIKASI INDONESIA PER ID TLKM IJ 2,543.41 $664.93
BD6K457 COMPASS GROUP PLC GB CPG LN 30.89 $650.18
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 17,287.34 $16,855.16
BD9Y9B7 BASIC-FIT NV NL BFIT NA 32.09 $954.46
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 1,555.97 $568.65
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 4,383.64 $5,584.60
BDZV116 EPIROC AB-A SE EPIA SS 22.89 $217.57
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 70.32 $328.21
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 11,513.09 $10,419.35
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 28.65 $4,433.79
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 67.33 $465.72
BG7ZWY7 AMBEV SA BR ABEV3 BZ 221.43 $878.68
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 1,940.84 $2,784.10
BGPFVB9 REPSOL SA- RTS ES 170.11 $77.96
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 2,049.69 $1,546.23
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 13.99 $642.46
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,827.52 $113,328.17
BNGN9Z1 FINECOBANK SPA IT FBK IM 165.17 $1,661.87
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 1,995.53 $50,935.27
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 23.94 $578.31
BSQXJ01 THULE GROUP AB/THE SE THULE SS 69.27 $1,267.81
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 522.97 $1,330.06
BYMXPS7 UNICREDIT SPA IT UCG IM 55.31 $626.51
BYQ32R1 NEMAK SAB DE CV MX 1,298.63 $970.09
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 2,423.72 $982.38
BYXS699 QIAGEN N.V. NL QIA GR 31.42 $1,073.60
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,392.72 $91,751.42
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 174.9 $843.30
BZ3C3Q4 BANKIA SA ES BKIA SM 415.71 $1,216.30
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 79.44 $672.76
G02602103 AMDOCS LTD GG DOX 43.09 $2,524.11
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 20.35 $637.89
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 19.67 $902.05
G27358103 DESPEGAR.COM CORP AR DESP 25.51 $316.57
G3157S106 ENSCO INTERNATIONAL INC US ESV 3,758.54 $13,380.39
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 9,599.46 $9,695.46
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 195.55 $5,798.04
G5960L103 MEDTRONIC INC IE MDT 1,656.36 $150,662.93
G84720104 STERIS PLC GB STE 8.45 $903.21
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 19.77 $3,002.98
G97822103 PERRIGO CO PLC IE PRGO 33.96 $1,316.03
H1467J104 CHUBB LTD CH CB 31.49 $4,068.26
H8817H100 TRANSOCEAN LTD US RIG 2,411.55 $16,736.16
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 11.97 $1,228.62
N22717107 CORE LABORATORIES N.V. NL CLB 15.34 $914.90
N47279109 INTERXION HOLDING NV NL INXN 1,326.98 $71,869.28
N53745100 LYONDELLBASELL INDU-CL A US LYB 47.83 $3,977.16
N72482123 QIAGEN N.V. ADR NL QGEN 21.99 $757.66
USD US DOLLAR US 151,857.12 $151,857.12

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

$10.79

Daily $ Change

$0.00

Daily % Change

0.00%

as of 01/16/2019

CUSIP

56382R878

Inception Date

05/14/2015

This fund is available only 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 12/31/2018

YTD

---

1 Year

-2.12%

3 Year

4.11%

5 Year

2.61%

10 Year

6.95%

Inception
(01/01/2000)

6.26%

US Stock Market Cycle (04/01/2000 - 12/31/2018)

6.18%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.56%
Net 0.49%*

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

Top Ten Investments

As of 12/31/2018

TREASURY NOTES 12.85%
GOVERNMENT AGENCY 8.22%
TREASURY BONDS 5.24%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 5.02%
SWEDISH EXPORT CREDIT 1.12500 08/28/2019 1.16%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.07%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 1.01%
VERIZON COMMUNICATIONS 5.50000 03/16/2047 1.00%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.99%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.99%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2018

Bonds
68.68%
Stocks
30.43%
Cash
0.89%

Detailed Asset Class Allocation

As of 12/31/2018

International Equities
9.11%
Small Capitalization
1.08%
Mid Capitalization
2.86%
Large Capitalization
17.37%
Long Term Fixed Income
21.49%
Intermediate Term Fixed Income
29.69%
Short Term Fixed Income
17.51%
Cash
0.89%

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

December Fund Holdings

As of 12/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 256.92 $4,884.13
00101JAH9 ADT SEC CORP 4.12500 06/15/2023 US 7,587.53 $6,942.59
00101JAM8 ADT CORP 5.25000 03/15/2020 US 3,543.69 $3,552.55
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 109,776.21 $107,400.62
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 199,313.25 $197,302.83
00287Y109 ABBVIE INC US ABBV 125.68 $11,586.35
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 16,966.1 $17,178.18
004239109 ACADIA REALTY TRUST US AKR 61.26 $1,455.51
0045614 ANTOFAGASTA PLC GB ANTO LN 233.77 $2,338.05
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 107,264.13 $101,830.47
008492100 AGREE REALTY CORP US ADC 38.52 $2,277.07
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 4,724.93 $4,837.46
013817AW1 ALCOA INC 5.12500 10/01/2024 US 5,599.1 $5,375.19
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 14.98 $1,726.52
01609W102 ALIBABA GROUP - ADR CN BABA 16.23 $2,225.05
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 6,280.19 $6,280.19
020002101 ALLSTATE CORPORATION US ALL 30.76 $2,541.75
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 5,973.13 $5,969.40
02079K107 ALPHABET INC-CL C US GOOG 72.01 $74,570.71
02079K305 ALPHABET INC-CL A US GOOGL 41.37 $43,225.62
023135106 AMAZON.COM INC US AMZN 25.5 $38,297.69
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36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 2,276.57 $2,417.26
363576109 ARTHUR J GALLAGHER & CO US AJG 48.7 $3,589.50
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 83,505.55 $63,881.75
37045VAR1 GENERAL MOTORS CO FLT 3.66713 09/10/2021 US 105,783.68 $102,851.18
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 4,283.92 $3,673.46
374297109 GETTY REALTY CORP US GTY 110.21 $3,241.26
375558103 GILEAD SCIENCES INC US GILD 132.71 $8,301.01
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 12,552.54 $11,924.92
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 52,326.33 $49,879.02
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 828.71 $8,817.42
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 5,906.16 $5,773.27
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 6.36 $518.54
4012250 AIRBUS SE FR AIR FP 9.2 $877.24
40414L109 HCP INC US HCP 189.97 $5,305.97
4057808 L'OREAL FR OR FP 6.06 $1,386.52
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 4.34 $1,270.28
4076836 INTESA SANPAOLO IT ISP IM 307.15 $683.92
4162791 THALES SA FR HO FP 1.42 $166.09
4163437 CAP GEMINI FR CAP FP 2.32 $230.66
421946104 HEALTHCARE REALTY TRUST INC US HR 248.42 $7,065.09
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 352.28 $8,916.09
42809H107 HESS CORP US HES 146.11 $5,917.57
437076102 HOME DEPOT INC US HD 88.03 $15,125.98
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 203.61 $5,385.37
438516106 HONEYWELL INTERNATIONAL INC US HON 70.82 $9,357.08
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 4,488.37 $4,555.69
44107P104 HOST MARRIOTT CORP US HST 243.19 $4,053.95
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 9,674.27 $8,864.05
446150104 HUNTINGTON BANCSHARES US HBAN 125.61 $1,497.22
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 9,308.07 $8,702.12
45337C102 INCYTE CORP US INCY 1,457.02 $92,651.75
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 516.2 $4,738.75
4574813 MEDIOBANCA SPA IT MB IM 82.59 $698.80
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 7,721.48 $7,280.58
458140100 INTEL CORP US INTC 733.64 $34,429.73
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 588.19 $44,308.31
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 79.03 $8,982.82
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 116,788.79 $117,821.91
46187BAA1 IHSFR 2017-SFR2 A 3.30513 12/17/2036 US 19,090.69 $18,857.63
46187BAB9 IHSFR 2017-SFR2 B 3.60513 12/17/2036 US 14,623.62 $14,544.61
46187W107 INVITATION HOMES INC US INVH 312.08 $6,266.51
464286624 ISHARES MSCI THAILAND ETF TH 43.76 $3,623.89
464287598 ISHARES RUSSELL 1000 VALUE US 68.11 $7,563.92
464289180 ISHARES MSCI EUROPE FINANCIA XX 262.12 $4,442.94
466032109 J&J SNACK FOODS CORP US JJSF 44.68 $6,459.72
46625H100 JP MORGAN CHASE & CO US JPM 350.96 $34,261.08
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 165,546.32 $167,164.67
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 3,207.03 $3,244.79
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 25,243.84 $24,469.76
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 29,193.12 $28,681.11
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 35,148.54 $34,900.04
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 84,986.01 $85,662.22
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 54,028.31 $53,338.21
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 25,856.28 $25,510.50
4682329 PERNOD-RICARD SA FR RI FP 5.98 $982.18
4712798 RENAULT SA FR RNO FP 3.67 $228.34
4741844 MERCK KGAA DE MRK GR 898.54 $92,489.41
476405105 JERNIGAN CAPITAL INC US JCAP 335.98 $6,659.22
478160104 JOHNSON & JOHNSON US JNJ 1,248.5 $161,119.26
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 10,623.25 $6,798.88
4821100 SOLVAY SA BE SOLB BB 18.4 $1,840.27
4834108 SCHNEIDER ELECTRIC SE FR SU FP 8.9 $603.83
4834777 VIVENDI FR VIV FP 14.81 $358.99
485170302 KANSAS CITY SOUTHERN US KSU 84.59 $8,074.27
493267108 KEYCORP US KEY 255.97 $3,783.27
49446R109 KIMCO REALTY CORP US KIM 162.29 $2,377.54
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 143,118.59 $159,627.11
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 117.7 $4,132.30
500754106 KRAFT HEINZ CO/THE US KHC 112.79 $4,854.43
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 7,752.81 $6,958.15
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 4,941.51 $4,632.67
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 6,646.39 $6,746.08
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 5,165.93 $5,153.02
5107401 BEIERSDORF AG DE BEI GR 13.09 $1,365.43
5176177 ORANGE FR ORA FP 29.92 $484.92
5253973 HERMES INTERNATIONAL FR RMS FP .45 $249.36
5263574 FLSMIDTH & CO A/S DK FLS DC 3.74 $168.71
529043101 LEXINGTON REALTY TRUST US LXP 324.86 $2,667.12
531172104 LIBERTY PROPERTY TRUST US LPT 150.28 $6,293.58
532457108 ELI LILLY & CO US LLY 148.24 $17,153.96
5330047 DASSAULT SYSTEMES SA FR DSY FP 2.24 $266.56
534187109 LINCOLN NATL CORP IND US LNC 41.01 $2,104.43
53815P108 LIVERAMP HOLDINGS INC US RAMP 1,511.79 $58,400.46
539830109 LOCKHEED MARTIN CORP US LMT 26 $6,807.85
5458314 AKZO NOBEL NL AKZA NA 30.3 $2,439.90
5474008 BANKINTER S.A. ES BKT SM 173.4 $1,391.39
550021109 LULULEMON - ADR CA LULU 693.06 $84,283.47
5505072 KERING FR KER FP 1.27 $595.75
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 50,612.01 $54,715.17
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 9,973.5 $8,876.41
5596991 UCB SA BE UCB BB 11.07 $904.27
56585A102 MARATHON PETROLEUM CORP US MPC 66.06 $3,898.32
5669354 REPSOL SA ES REP SM 170.11 $2,734.86
5671519 WOLTERS KLUWER NL WKL NA 11 $646.67
5671735 SANOFI-AVENTIS FR SAN FP 75.28 $6,530.92
5701513 ELISA OYJ FI ELISA FH 15.63 $647.57
5713422 METSO OYJ FI METSO FH 6.36 $167.05
5727973 SIEMENS AG-REG DE SIE GR 12.42 $1,385.85
57636Q104 MASTERCARD INC-CLASS A US MA 754.17 $142,273.89
580135101 MCDONALDS CORP US MCD 68.99 $12,250.84
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 4,724.93 $4,559.55
58933Y105 MERCK & CO INC US MRK 1,162.48 $88,825.00
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 4,134.31 $3,514.16
594918104 MICROSOFT CORP US MSFT 1,394.35 $141,624.11
59522J103 MID-AMERICA APARTMENT COMM US MAA 50.19 $4,802.86
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW .19 $1,208.57
5966516 SOCIETE GENERALE FR GLE FP 12.42 $393.70
5980613 GIVAUDAN - REG CH GIVN SW .3 $693.80
60871R209 MOLSON COORS BREWING CO -B US TAP 102.17 $5,737.82
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 2,403.35 $96,206.00
6132101 BRIDGESTONE CORP JP 5108 JP 14.96 $574.00
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 152,269.21 $150,000.40
6175076 KT&G CORP KR 033780 KS 7.41 $674.27
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 22.44 $1,301.61
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 9,158.46 $9,185.94
624758108 MUELLER WATER PRODUCTS INC - A US MWA 376.82 $3,429.04
6264189 NCSOFT CORP KR 036570 KS 2.24 $940.70
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 6,055.77 $5,207.96
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 2,992.24 $2,132.90
6307200 EISAI CO LTD JP 4523 JP 10.47 $810.81
6308913 ELBIT SYSTEMS LTD IL ESLT IT 5.24 $601.08
6332439 FAST RETAILING CO LTD JP 9983 JP 1.5 $764.13
6356934 FANUC LTD JP 6954 JP 6.51 $987.67
637417106 NATIONAL RETAIL PROPERTIES US NNN 68.49 $3,322.35
637870106 NATIONAL STORAGE AFFILIATES US NSA 52.7 $1,394.41
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 5,016.32 $4,602.47
64110W102 NETEASE.COM INC- ADR CN NTES 1.72 $404.96
6441506 HOYA CORP JP 7741 JP 16.46 $992.38
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 9.13 $1,052.64
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 23.64 $1,274.18
6467104 ISUZU MOTORS LTD JP 7202 JP 43.39 $608.60
6472119 JARDINE MATHESON HLDGS LTD HK JM SP 9.58 $666.71
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 24.46 $1,340.74
6482903 KANAMOTO CO LTD JP 9678 JP 28.43 $748.75
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 34,131.23 $34,115.14
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 42,966.78 $42,989.67
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 60,173.23 $60,089.36
6490809 KIKKOMAN CORP JP 2801 JP 23.94 $1,281.03
6490995 KEYENCE CORP JP 6861 JP 7.18 $3,629.80
651229106 NEWELL BRANDS INC US NWL 349.72 $6,501.27
6518808 LION CORP JP 4912 JP 50.87 $1,051.32
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 538.6 $949.87
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 25.43 $1,327.22
6642387 YAMAHA CORP JP 7951 JP 31.42 $1,336.53
6648891 ORIENTAL LAND CO LTD FIRST SECT JP 4661 JP 11.97 $1,203.71
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 9,158.46 $9,046.73
6683449 KANGWON LAND INC KR 035250 KS 24.99 $715.28
66987V109 NOVARTIS AG- REG CH NVS 1,941.67 $166,614.30
67020YAQ3 NUANCE COMMUNICATIONS 5.62500 12/15/2026 US 6,189.72 $5,880.23
6703972 PETRONAS GAS BHD MY PTG MK 137.64 $639.49
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 1,496.12 $1,521.22
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 16.48 $5,674.18
6742340 SHANDONG WEIGAO CN 1066 HK 957.52 $773.51
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 62.84 $1,013.56
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 78.7 $523.81
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 41.89 $604.42
6791591 SECOM CO LTD JP 9735 JP 7.48 $620.52
680223104 OLD REPUBLIC INTL CORP US ORI 149.41 $3,073.33
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 52,407.36 $52,057.65
6865504 SUZUKI MOTOR CORP JP 7269 JP 28.43 $1,433.01
6885074 TERUMO CORP JP 4543 JP 25.43 $1,434.61
6895200 TOHO CO LTD JP 9602 JP 19.45 $704.72
6911485 UNICHARM CORP JP 8113 JP 32.91 $1,064.53
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 718.14 $1,387.57
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 8,119.01 $7,997.22
693475105 PNC FINANCIAL SERVICES GROUP US PNC 23.07 $2,697.17
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 66.05 $1,454.99
6985112 YAKULT HONSHA CO LTD JP 2267 JP 17.95 $1,256.81
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 8,926.21 $8,346.01
7021963 DEUTSCHE BOERSE AG DE DB1 GR 6.21 $742.31
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 153.07 $2,850.17
7062713 SODEXO FR SW FP 6.36 $652.10
7088429 AXA SA FR CS FP 33.14 $715.21
7103065 NOVARTIS AG-REG CH NOVN SW 28.65 $2,453.77
7103526 PEUGEOT SA FR UG FP 7.71 $164.33
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 8.83 $2,191.41
7110902 TECAN GROUP AG-REG CH TECN SW 2.24 $436.80
7123870 NESTLE SA-REGISTERED CH NESN SW 1,171.23 $95,059.98
7133608 EQUINOR ASA NO EQNR NO 109.14 $2,315.14
713448108 PEPSICO INC US PEP 969.06 $107,061.95
7145056 ENI SPA IT ENI IM 147.59 $2,331.55
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 4,724.93 $4,370.56
717081103 PFIZER INC US PFE 442.22 $19,302.91
71943U104 PHYSICIANS REALTY TRUST US DOC 630.29 $10,103.53
7212477 ESSILORLUXOTTICA FR EL FP 3.82 $483.60
7262610 CREDIT AGRICOLE SA FR ACA FP 21.62 $232.67
729640102 PLYMOUTH INDUSTRIAL REIT INC US 196.14 $2,473.31
7309681 BNP PARIBAS FR BNP FP 18.85 $851.33
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 7.48 $248.33
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 175,728.57 $170,728.48
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 45.04 $1,989.52
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 21,971.85 $21,576.00
74340W103 PROLOGIS US PLD 219.64 $12,897.18
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 107,413.74 $108,487.88
74460D109 PUBLIC STORAGE INC US PSA 45.61 $9,232.20
74736K101 QORVO INC US QRVO 2,325.86 $141,249.24
756109104 REALTY INCOME CORP US O 29.01 $1,828.61
75886F107 REGENERON PHARMACEUTICALS INC US REGN 135.72 $50,693.11
7591EP100 REGIONS FINANCIAL CORP. US RF 163.69 $2,190.18
76131D103 RESTAURANT BRANDS INTERN CA QSR 13.99 $731.61
767204100 RIO TINTO PLC - SPON ADR GB RIO 130.22 $6,313.06
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 5,472.99 $5,472.99
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 137.68 $8,252.31
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9.1 $648.94
78410G104 SBA COMMUNICATIONS CORP US SBAC 311.93 $50,498.81
78442PGC4 SLM CORP 5.12500 04/05/2022 US 7,378.78 $7,157.42
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 64,084.57 $63,063.51
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 39,407.17 $39,316.09
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 157,876.15 $167,159.92
80105N105 SANOFI-AVENTIS-ADR FR SNY 239.86 $10,412.30
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 106,665.68 $105,610.27
806857108 SCHLUMBERGER LTD NL SLB 1,039.63 $37,509.91
808513105 CHARLES SCHWAB CORP/THE US SCHW 1,015.36 $42,167.92
81141R100 SEA LTD - ADR SG SE 61.64 $697.77
81211K100 SEALED AIR CORP US SEE 2,060.36 $71,782.98
812578102 SEATTLE GENETICS INC US SGEN 1,016.2 $57,578.15
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 29,922.38 $28,760.74
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 41,081.84 $39,642.37
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 31,860.3 $28,479.65
81762P102 SERVICENOW INC US NOW 265.1 $47,201.39
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 6,205.38 $5,553.82
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 5,390.35 $4,608.75
828806109 SIMON PROPERTY GROUP INC US SPG 103.55 $17,395.51
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 3,585.5 $3,546.82
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,366.27 $3,290.46
83401LAB0 SOFI 2015-A A2 2.42000 03/25/2030 US 25,962.68 $25,707.19
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 29,735.24 $29,141.22
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 1,140.51 $1,131.46
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 9,521.14 $9,352.15
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 4,266.36 $4,243.89
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 1,814.26 $1,799.68
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 14,533.78 $14,461.26
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 8,100.26 $8,029.37
835495102 SONOCO PRODUCTS CO US SON 213.86 $11,362.35
84265V105 SOUTHERN COPPER CORPORATION US SCCO 37.55 $1,155.50
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 104,602.45 $106,853.90
844741108 SOUTHWEST AIRLS CO US LUV 69.21 $3,216.94
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 10,249.22 $9,160.24
85254J102 STAG INDUSTRIAL INC US STAG 255.43 $6,355.21
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.67513 11/15/2027 US 89,525.79 $86,927.09
862121100 STORE CAPITAL CORP US STOR 59.05 $1,671.59
866674104 SUN COMMUNITIES US SUI 70.33 $7,153.73
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 221.99 $2,888.13
867914103 SUNTRUST BANKS INC US STI 42.85 $2,161.11
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 410.58 $15,154.53
874080104 TAL EDUCATION GROUP - ADR CN TAL 19.3 $514.92
87612E106 TARGET CORP US TGT 157.1 $10,382.66
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 20,455.01 $20,410.59
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,937.78 $6,382.76
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 3,693.31 $3,250.11
882508104 TEXAS INSTRUMENTS INC US TXN 97.48 $9,212.03
88579Y101 3M CO US MMM 70.6 $13,452.67
88650V208 TIER REIT INC US TIER 267.08 $5,509.88
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 92,847.62 $90,012.27
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 88,778.71 $86,274.09
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 50,255.66 $48,739.04
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 9,308.07 $8,656.51
902653104 UDR INC US UDR 178.83 $7,085.12
902973304 U.S. BANCORP US USB 162.3 $7,417.05
903002103 UMH PROPERTIES INC US UMH 135.89 $1,608.88
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 4,425.7 $4,138.56
904767704 UNILEVER PLC - ADR GB UL 1,887.48 $98,620.98
907818108 UNION PAC CORP US UNP 72.8 $10,063.15
911312106 UNITED PARCEL SERVICE US UPS 83.49 $8,143.08
912796QY8 TREASURY BILL 0.00000 02/21/2019 US 84,852.06 $84,573.64
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 138,116.6 $185,232.70
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 251,544.27 $320,591.21
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 112,577.38 $102,134.65
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 290,055.93 $262,863.19
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 119,719.66 $119,205.24
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 151,856.36 $152,639.37
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 655,715.61 $653,871.41
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 870,040.36 $850,475.78
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 241,690.37 $233,051.83
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 397,037.62 $370,764.90
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 42,938.69 $40,608.93
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 94,920.25 $91,678.79
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 152,694.18 $149,497.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 388,466.96 $378,026.91
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 203,972.02 $200,609.67
913017109 UNITED TECHNOLOGIES CORP US UTX 75.14 $8,001.30
91704F104 URBAN EDGE PROPERTIES US UE 263.93 $4,386.47
91913Y100 VALERO ENERGY US VLO 58.45 $4,381.63
92276F100 VENTAS INC US VTR 60.29 $3,532.17
92339V100 VEREIT INC US VER