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 balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 25% - 65%.

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. During the target year, the portfolio’s stock exposure can range from 20% - 60%. 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 plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current 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

$18.87

Daily $ Change

$0.02

Daily % Change

0.11%

as of 01/14/2021

CUSIP

302027636

Inception Date

08/17/2012

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 12/31/2020

YTD

---

1 Year

16.05%

3 Year

9.64%

5 Year

9.04%

10 Year

7.35%

Inception
(01/01/2000)

6.94%

Performance through the inception date of the Retirement Target CIT Class S units is based on 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 S 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 0.90%
Net 0.89%*

*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 12/31/2020

TREASURY NOTES 9.88%
GOVERNMENT AGENCY 7.78%
TSY INFL IX N/B 0.12500 04/15/2025 1.48%
NOVARTIS AG- REG 1.44%
EXPEDIA INC 1.42%
UNILEVER PLC - ADR 1.39%
TREASURY BONDS 1.38%
JOHNSON & JOHNSON 1.34%
AMAZON.COM INC 1.33%
MASTERCARD INC-CLASS A 1.30%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2020

Bonds 49.78%
Stocks 48.93%
Cash 1.29%

Detailed Asset Class Allocation

As of 12/31/2020

International Equities 13.79%
Small Capitalization 1.95%
Mid Capitalization 7.64%
Large Capitalization 25.56%
Long Term Fixed Income 15.76%
Intermediate Term Fixed Income 31.08%
Short Term Fixed Income 2.93%
Cash 1.29%

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 12/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 103,239.27 $120,762.40
00287Y109 ABBVIE INC US ABBV 137.05 $14,685.20
00507V109 ACTIVISION INC US ATVI 3,726.52 $346,007.77
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 14,976.97 $16,081.52
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 316,404.8 $352,436.08
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 15,628.14 $17,269.10
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 10,592.29 $11,098.50
008492100 AGREE REALTY CORP US ADC 309.89 $20,632.62
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 151,370.97 $162,223.07
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 79,288.59 $87,215.65
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 19,708.71 $21,408.63
01609W102 ALIBABA GROUP - ADR CN BABA 1,281.67 $298,282.78
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 367,979.76 $411,953.84
020002101 ALLSTATE CORPORATION US ALL 40.41 $4,441.80
02079K305 ALPHABET INC-CL A US GOOGL 333.47 $584,457.13
023135106 AMAZON.COM INC US AMZN 199.25 $648,949.50
0237400 DIAGEO PLC GB DGE LN 4,505.51 $178,277.42
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 372.18 $15,917.97
025816109 AMERICAN EXPRESS CO US AXP 2,045.38 $247,306.35
02665T306 AMERICAN HOMES 4 RENT- A US AMH 959.13 $28,773.78
03027X100 AMERICAN TOWER REIT INC US AMT 1,164.96 $261,485.98
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 264,819.45 $307,889.06
03064D108 AMERICOLD REALTY TRUST US COLD 846.96 $31,616.83
032654105 ANALOG DEVICES INC US ADI 36.94 $5,457.38
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 16,930.49 $16,634.21
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 11,069.94 $10,629.35
03690EAA6 ANTERO MIDSTREAM PART/FI 7.87500 05/15/2026 US 4,558.21 $4,706.72
03750L109 APARTMENT INCOME REIT CO US AIRC 331.72 $12,741.34
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,321.91 $17,065.89
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 82.09 $4,138.04
04364VAR4 ASCENT RESOURCES 8.25000 12/31/2028 US 9,594.06 $9,570.07
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 108,709.81 $115,465.04
053015103 AUTOMATIC DATA PROCESSING US ADP 35.4 $6,238.34
053484101 AVALONBAY COMMUNITIES INC US AVB 98.28 $15,766.89
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 136,234.33 $139,002.37
055622104 BP PLC-SPONS ADR GB BP 4,204.26 $86,271.40
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 382,113.7 $389,759.80
05722G100 BAKER HUGHES CO US BKR 163.39 $3,406.76
060505104 BANK OF AMERICA CORP US BAC 590.22 $17,889.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 159,243.59 $178,939.07
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 14,976.97 $15,434.37
084423102 WR BERKLEY CORP US WRB 3,984.86 $264,674.35
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,770.85 $410,607.50
086516101 BEST BUY INC US BBY 47.57 $4,746.83
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 3,351.34 $293,879.22
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 414.22 $19,508.46
105368203 BRANDYWINE REALTY TRUST US BDN 857.19 $10,209.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 194.72 $12,078.36
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 49,662.65 $4.97
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 16,279.32 $16,231.78
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,093.49 $101,825.66
12514G108 CDW CORP/DE US CDW 1,515.78 $199,764.41
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 118,291.65 $120,493.66
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 100,507.81 $101,791.10
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 29.29 $2,749.71
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 26,215.26 $26,948.68
12572Q105 CME GROUP INC US CME 549.22 $99,985.21
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 343,902.33 $376,170.52
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 181,504.01 $203,003.20
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 191,056.85 $209,321.43
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 60,251.67 $61,333.54
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 11,069.94 $11,263.66
127097103 CABOT OIL & GAS CORP US COG 27,577.65 $448,964.09
133131102 CAMDEN PROPERTY TRUST US CPT 199.35 $19,919.38
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 172,906.45 $192,022.82
13321L108 CAMECO CORP CA CCJ 19,433.03 $260,402.53
14174T107 CARETRUST REIT INC US CTRE 408.08 $9,051.12
149123101 CATERPILLAR INC US CAT 61.62 $11,216.85
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 43,131.36 $43,314.58
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 603.48 $399,232.51
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 38,344.31 $38,563.45
172062101 CINCINNATI FINANCIAL CORP US CINF 23.15 $2,022.27
17275R102 CISCO SYSTEMS INC US CSCO 339.61 $15,197.58
172967424 CITIGROUP INC US C 176.93 $10,909.43
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 201,963.28 $238,748.51
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 194,877.99 $196,565.63
191216100 COCA COLA CO/THE US KO 7,664.22 $420,305.67
194162103 COLGATE-PALMOLIVE CO US CL 101.77 $8,702.31
20030N101 COMCAST CORP-CL A US CMCSA 263.99 $13,833.14
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 251,892.3 $285,994.96
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 326.67 $15,389.23
20449X401 COMPASS GROUP PLC ADR GB CMPGY 10,732.23 $201,014.59
205887102 CONAGRA BRAND INC. US CAG 90.14 $3,268.32
20605P101 CONCHO RESOURCES INC US CXO 4,867.52 $284,019.93
20825C104 CONOCOPHILLIPS US COP 5,309.45 $212,324.89
21036P108 CONSTELLATION BRANDS INC-A US STZ 20.92 $4,583.28
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 1,773.32 $22,024.69
217204106 COPART INC US CPRT 1,746.98 $222,302.83
222795502 COUSINS PROPERTIES INC US CUZ 892.21 $29,888.90
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 32,276.68 $32,999.99
22822V101 CROWN CASTLE INTL CORP US CCI 190.71 $30,359.89
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 177,998.74 $196,142.86
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 37,057.64 $37,728.35
229663109 CUBESMART US CUBE 332.17 $11,164.24
231021106 CUMMINS INC US CMI 24.52 $5,567.98
253868103 DIGITAL REALTY TRUST INC US DLR 307.5 $42,899.96
256746108 DOLLAR TREE STORES INC US DLTR 1,825.11 $197,185.35
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 163,889.43 $186,685.60
25960P109 DOUGLAS EMMETT INC US DEI 483.8 $14,117.28
260003108 DOVER CORP US DOV 20.33 $2,567.05
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 13,023.45 $16,637.46
264411505 DUKE RLTY INVTS INC US DRE 651.46 $26,039.04
26875P101 EOG RESOURCES INC US EOG 3,978.81 $198,423.44
26884L109 EQT CORP US EQT 13,553.53 $172,265.42
26884LAG4 EQT CORP 8.75000 02/01/2030 US 11,721.11 $14,358.36
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,719.43 $44,252.22
285512109 ELECTRONIC ARTS US EA 1,582.34 $227,223.85
291011104 EMERSON ELEC CO US EMR 86.83 $6,978.36
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 286,100.34 $349,038.33
29275YAC6 ENERSYS 4.37500 12/15/2027 US 1,953.52 $2,065.85
29444U700 EQUINIX INC US EQIX 584.54 $417,465.35
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 461.34 $29,230.46
297178105 ESSEX PROPERTY TRUST INC US ESS 48.91 $11,611.09
30212P303 EXPEDIA INC US EXPE 5,238.07 $693,520.30
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 105,843.96 $122,683.80
30225T102 EXTRA SPACE STORAGE INC US EXR 72.08 $8,350.85
30231G102 EXXON MOBIL CORP US XOM 5,731.89 $236,268.69
302491303 FMC CORP US FMC 1,690.29 $194,264.52
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 15,150.5 $14,449.79
30286XAN9 FREMF 2015-K43 B FLT 3.73274 02/25/2048 US 292,598.2 $319,576.28
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,280,095.92 $22,618.24
30303M102 FACEBOOK INC -A US FB 2,126.29 $580,817.17
311900104 FASTENAL CO US FAST 95.46 $4,661.20
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 3,043.48 $3,606.18
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 6,085.32 $7,090.83
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 6,652.3 $7,818.72
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 23,407.52 $27,526.65
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 3,961.04 $4,658.12
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 6,048.12 $7,134.19
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 10,413.77 $12,359.97
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 15,979.7 $18,786.03
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 6,268.2 $7,369.62
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 19,546.89 $23,088.55
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 411.26 $425.82
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 476.14 $482.70
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 357.12 $363.26
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 411.32 $423.89
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 624.39 $642.39
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 121,868.88 $133,043.89
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 21,476.81 $25,256.15
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 20,591.56 $22,767.80
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 414,138.93 $436,944.01
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 6,334.32 $6,860.55
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 14,125.41 $15,425.42
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 179,992.01 $201,633.16
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 33,382.68 $36,382.19
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 842,102.76 $845,377.65
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 172,388.95 $186,780.20
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 41,389.93 $42,872.13
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 29,917.9 $35,158.47
3137ADTK3 FHMS K014 X1 FLT 1.17813 04/25/2021 US 550,526.54 $642.91
3137AJMG6 FMHS K016 X1 FLT 1.48098 10/25/2021 US 481,778.65 $2,479.86
3137AME78 FHMS K017 X1 FLT 1.28567 12/25/2021 US 868,852.2 $5,957.81
3137AUPF0 FHMS K021 x1 FLT 1.40440 06/25/2022 US 1,797,372.51 $26,547.91
3137B3NB0 FHMS K030 X1 FLT 0.16985 04/25/2023 US 5,678,753.96 $19,908.58
3137B4GZ3 FHMS K032 X1 FLT 0.08901 05/25/2023 US 3,660,278.9 $9,208.53
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 39,951.38 $40,426.50
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 19,288.75 $19,452.03
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 17,137.29 $19,409.35
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 103,006.94 $115,070.34
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64100 01/01/2049 US 228,655.76 $268,033.53
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 47,308.1 $55,600.33
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 7,122.76 $8,372.72
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 35,611.76 $38,496.34
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 35,099.28 $37,517.77
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 79,576.71 $86,037.66
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 91,796.57 $98,936.84
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 205.55 $207.16
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 316.59 $320.04
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 749.07 $751.91
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 953.49 $958.65
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 13,200.07 $15,496.13
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 21,573.89 $25,545.67
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 19,972.37 $23,474.15
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 8,949.02 $10,464.86
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 2.33 $2.34
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 355.31 $357.54
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 34,318.1 $37,936.31
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 57,727.12 $63,814.59
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 36,212.76 $38,348.94
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 414,135.78 $437,369.36
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 421,314.3 $437,696.78
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 9,758.8 $11,573.26
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 5,517 $6,573.11
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 11,385.67 $13,357.16
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,823.8 $23,304.93
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 883.88 $932.93
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 31,801.31 $35,670.59
316773100 FIFTH THIRD BANCORP US FITB 117.49 $3,239.27
32054K103 FIRST INDUSTRIAL REALTY TR US FR 459.37 $19,353.13
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 152,120.17 $159,401.52
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 13,674.63 $16,765.23
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 10,245.23 $10,754.22
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,767.59 $10,085.04
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 2,950.02 $3,083.09
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 9,767.59 $11,196.10
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 11,721.11 $13,362.06
357081AE8 FREMF 2015-K720 B FLT 3.39339 07/25/2022 US 129,798.11 $134,131.35
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 9,767.59 $10,182.71
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 1.12 $1.13
36257MAA3 GSMS 2019-70P A 1.15900 10/15/2036 US 127,631.57 $124,430.56
369550108 GENERAL DYNAMICS CORP US GD 33.77 $5,026.05
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 228,181.99 $212,266.29
370334104 GENERAL MLS INC US GIS 89.02 $5,234.63
372460105 GENUINE PARTS CO US GPC 30.11 $3,023.84
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 20,359.88 $22,039.57
374297109 GETTY REALTY CORP US GTY 464.51 $12,792.57
375558103 GILEAD SCIENCES INC US GILD 125.41 $7,306.40
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 26,046.91 $26,698.08
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 153,961.11 $156,269.56
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 122,804.78 $128,870.70
383909AF5 WR GRACE & CO-CONN 5.62500 10/01/2024 US 8,942.89 $9,647.14
384802104 WW GRAINGER INC US GWW 7.22 $2,949.59
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 24,879.63 $421,460.96
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 94.81 $10,551.02
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 71.28 $11,755.96
4012250 AIRBUS SE FR AIR FP 109.52 $12,019.45
4031976 ADIDAS AG DE ADS GR 50.57 $18,398.17
404119BX6 HCA INC 4.12500 06/15/2029 US 153,425.98 $177,986.66
416515104 HARTFORD FINL SVCS US HIG 61.29 $3,002.20
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 10,592.29 $10,989.50
419792A22 HAWAII ST 2.68200 10/01/2030 US 115,238.87 $120,020.13
421946104 HEALTHCARE REALTY TRUST INC US HR 514.14 $15,218.62
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 649.27 $17,880.85
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 858.53 $25,953.30
423012301 HEINEKEN NV-SPN ADR NL HEINY 3,712.74 $207,319.27
427866108 HERSHEY CO/THE US HSY 31.12 $4,741.22
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 9,420.53 $10,562.77
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,074.64 $119,564.52
437076102 HOME DEPOT INC US HD 83.53 $22,186.91
438516106 HONEYWELL INTERNATIONAL INC US HON 68.75 $14,623.58
440452100 HORMEL FOODS CORP US HRL 61.07 $2,846.41
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 9,116.42 $10,666.21
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 10,418.76 $11,226.22
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 9,767.59 $10,780.98
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 14,976.97 $15,201.63
45168D104 IDEXX LABORATORIES INC US IDXX 441.65 $220,767.35
452308109 ILLINOIS TOOL WKS INC US ITW 39.16 $7,984.79
45337C102 INCYTE CORP US INCY 1,574.55 $136,954.24
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 10,418.76 $10,653.18
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 15,628.14 $15,803.96
45778Q107 INSPERITY INC US NSP 2,333.7 $190,010.04
458140100 INTEL CORP US INTC 320.52 $15,968.26
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,660.39 $422,005.92
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 86.44 $10,880.72
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.07 $1,640.42
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 18,884.01 $20,536.36
46187BAA1 IHSFR 2017-SFR2 A 1.00300 12/17/2036 US 60,139.54 $59,992.85
46187BAB9 IHSFR 2017-SFR2 B 1.30300 12/17/2036 US 50,097.35 $49,976.06
46187W107 INVITATION HOMES INC US INVH 1,542.89 $45,823.79
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 10,418.76 $10,913.65
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 65,117.27 $68,474.86
46625H100 JP MORGAN CHASE & CO US JPM 189.02 $24,019.13
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 27,464.43 $27,855.40
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 32,355.22 $32,993.10
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 62,995.45 $64,429.47
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 286,100.34 $313,735.05
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 15,879.14 $15,889.64
478160104 JOHNSON & JOHNSON US JNJ 4,141.49 $651,787.19
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 50,617.94 $495.25
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 8,204.78 $9,291.91
482480100 KLA-TENCOR CORPORATION US KLAC 23.74 $6,145.58
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 15,628.14 $17,542.59
49427F108 KILROY REALTY CORP US KRC 390.43 $22,410.93
494368103 KIMBERLY CLARK CORP US KMB 43.61 $5,879.84
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 208,993.87 $285,968.33
49474FXR6 KING CNTY WA 1.30000 12/01/2028 US 27,591.35 $27,838.02
501044101 KROGER CO US KR 124.46 $3,952.98
50212YAC8 LPL HOLDINGS INC 4.62500 11/15/2027 US 10,418.76 $10,783.42
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 19,535.18 $19,486.34
5107401 BEIERSDORF AG DE BEI GR 238.1 $27,371.75
512816109 LAMAR ADVERTISING CO-A US LAMR 153.83 $12,802.13
53223X107 LIFE STORAGE INC US LSI 151.87 $18,132.08
532457108 ELI LILLY & CO US LLY 61.4 $10,366.53
539830109 LOCKHEED MARTIN CORP US LMT 27.76 $9,852.86
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 8,465.24 $8,867.34
54240F202 LONESTAR RES US INC NPV US 668.47 $1,216.62
550021109 LULULEMON - ADR CA LULU 45.24 $15,745.41
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 15,628.14 $16,722.11
55303XAL9 MGM GROWTH/MGM FINANCE 3.87500 02/15/2029 US 10,592.29 $10,830.62
56585A102 MARATHON PETROLEUM CORP US MPC 105.14 $4,348.51
573284106 MARTIN MARIETTA MATERIALS US MLM 353.7 $100,440.68
57636Q104 MASTERCARD INC-CLASS A US MA 1,774.41 $633,358.69
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 15,801.67 $15,959.69
5852842 ACCOR SA FR AC FP 222.65 $8,077.84
58933Y105 MERCK & CO INC US MRK 196.16 $16,045.83
594918104 MICROSOFT CORP US MSFT 1,881.98 $418,591.00
595112103 MICRON TECHNOLOGY INC US MU 5,520.23 $415,010.96
59522J103 MID-AMERICA APARTMENT COMM US MAA 270.38 $34,254.42
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,276.99 $425,485.73
615369105 MOODY'S CORPORATION US MCO 573.44 $166,435.41
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 15,628.14 $11,877.39
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 14,499.33 $10,267.34
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 15,288.63 $36,936.00
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 15,454.61 $16,806.89
63938EAC8 NAVSL 2014-1 A3 FLT 0.65800 06/25/2031 US 26,604.7 $26,014.35
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 9,767.59 $10,451.32
64033QAB5 NSLT 2015-2A A2 0.74800 09/25/2047 US 145,894.27 $143,416.82
64110D104 NETAPP INC US NTAP 40.02 $2,650.59
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 20,359.88 $21,625.86
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 50,196.67 $53,779.05
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 68,026.97 $72,490.90
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 134,141.57 $142,931.18
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 66,380.13 $68,385.47
655844108 NORFOLK SOUTHN CORP US NSC 870.09 $206,741.04
6642321 NIKON CORP JP 7731 JP 24,501.85 $154,799.69
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 49,142.06 $331.71
66987V109 NOVARTIS AG- REG CH NVS 7,411.2 $699,839.89
670346105 NUCOR CORP US NUE 60.5 $3,218.23
6742340 SHANDONG WEIGAO CN 1066 HK 17,016.39 $38,498.14
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 9,767.59 $11,464.71
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 14,325.8 $12,803.68
6821506 SONY CORP FIRST SECTION JP 6758 JP 275.21 $27,732.44
68389X105 ORACLE CORP US ORCL 189.52 $12,259.90
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 14,325.8 $14,959.64
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 115,829.76 $116,458.47
69121KAE4 OWL ROCK CAPITAL CORP 3.40000 07/15/2026 US 16,279.32 $16,512.41
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 232,704.18 $238,172.59
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 10,592.29 $10,565.81
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 15,628.14 $16,800.25
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 9,594.06 $9,905.87
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 70,541.34 $72,133.15
693475105 PNC FINANCIAL SERVICES GROUP US PNC 38.74 $5,772.07
693506107 PPG INDUSTRIES INC US PPG 27.72 $3,997.98
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 14,499.33 $15,659.28
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 15,628.14 $17,308.17
701094104 PARKER HANNIFIN CORP US PH 16.57 $4,514.87
7021963 DEUTSCHE BOERSE AG DE DB1 GR 281.29 $47,896.07
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,863.4 $436,408.55
7123870 NESTLE SA-REGISTERED CH NESN SW 3,261.75 $385,576.01
713448108 PEPSICO INC US PEP 1,381.82 $204,923.22
717081103 PFIZER INC US PFE 426.46 $15,697.84
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,664.92 $303,507.41
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 314,927.2 $357,932.15
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 15,628.14 $16,604.90
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 11,069.94 $12,121.58
74340W103 PROLOGIS US PLD 927.51 $92,435.31
74460D109 PUBLIC STORAGE INC US PSA 151.64 $35,017.83
747525103 QUALCOMM INC US QCOM 86.93 $13,243.23
74834L100 QUEST DIAGNOSTICS INC US DGX 24.42 $2,910.40
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 22,139.87 $24,314.01
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 133.51 $9,547.34
756109104 REALTY INCOME CORP US O 160.16 $9,957.40
7591EP100 REGIONS FINANCIAL CORP. US RF 173.75 $2,800.87
76131D103 RESTAURANT BRANDS INTERN CA QSR 279.21 $17,062.55
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 325.02 $15,961.54
7698356 GETINGE AB-B SHS SE GETIB SS 1,817.8 $42,539.55
773903109 ROCKWELL AUTOMATION INC US ROK 17.13 $4,296.24
7792559 HEINEKEN NV NL HEIA NA 230.98 $25,740.42
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,055.79 $69,095.19
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 2,055.85 $226,101.92
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 165,264.18 $169,451.52
78409V104 S&P GLOBAL INC US SPGI 406.4 $133,594.83
78410G104 SBA COMMUNICATIONS CORP US SBAC 952.58 $268,750.72
78442PGC4 SLM CORP 5.12500 04/05/2022 US 22,791.04 $23,303.84
78442PGD2 SLM CORP 4.20000 10/29/2025 US 19,708.71 $20,817.33
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 36,614.94 $37,998.86
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 224,292.2 $225,052.28
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 1,412.63 $1,415.11
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 307,896.61 $372,278.51
806857108 SCHLUMBERGER LTD NL SLB 5,407.62 $118,048.40
81141R100 SEA LTD - ADR SG SE 180.44 $35,917.55
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 93,905 $95,401.34
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 36,042.67 $36,617.35
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 48,765.12 $49,544.76
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 39,887.75 $40,270.33
81762P102 SERVICENOW INC US NOW 376.27 $207,112.81
83088M102 SKYWORKS SOLUTIONS INC US SWKS 21.18 $3,238.59
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 22.89 $2,645.57
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 20,864.11 $21,326.01
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 101,591.88 $104,562.84
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 23,079.56 $23,847.55
835699307 SONY CORP SPONSORED ADR JP SNE 2,368.73 $239,479.08
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 140,713.2 $147,221.19
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 229,140.74 $265,381.84
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 10,418.76 $12,320.19
85254J102 STAG INDUSTRIAL INC US STAG 331.09 $10,369.81
854502101 STANLEY WORKS/THE US SWK 20.07 $3,584.16
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 15,628.14 $16,018.85
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.62863 11/15/2027 US 190,082.59 $125,454.51
857949BL0 SS INT BEARING FD .022% 01/02/15 US 639,283.03 $639,283.03
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 20,359.88 $21,123.38
866674104 SUN COMMUNITIES US SUI 276.9 $42,075.08
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 153,093.39 $154,536.38
87105L104 SWITCH INC - A US SWCH 1,490.31 $24,396.38
871829107 SYSCO CORP US SYY 66.79 $4,959.83
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 157.58 $17,182.18
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 9,941.12 $8,102.01
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 9,767.59 $9,503.57
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 16,566.02 $16,603.05
87901JAE5 TEGNA INC 4.62500 03/15/2028 US 9,594.06 $9,809.93
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 249,548.77 $284,331.31
88146M101 TERRENO REALTY CORP US TRNO 235.84 $13,799.25
882508104 TEXAS INSTRUMENTS INC US TXN 89.12 $14,627.25
883556102 THERMO FISHER SCIENTIFIC INC US TMO 427.15 $198,958.83
88579Y101 3M CO US MMM 60.38 $10,554.30
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,277.92 $95,467.61
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 153,416.94 $156,399.47
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 86,799.06 $88,960.49
89177EAA7 TPMT 2019-HY1 A1 1.14800 10/25/2048 US 81,692.68 $82,010.18
89417E109 TRAVELLERS COS INC US TRV 33.87 $4,754.08
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 112,501.65 $115,979.18
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 43,035.57 $43,494.09
89832Q109 TRUIST FINANCIAL CORP US TFC 167.21 $8,014.56
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 25,395.73 $24,887.82
902494103 TYSON FOODS INC -CL A US TSN 52.6 $3,389.78
902653104 UDR INC US UDR 511.49 $19,656.43
902973304 U.S. BANCORP US USB 178.1 $8,297.72
904767704 UNILEVER PLC - ADR GB UL 11,192.31 $675,568.03
907818108 UNION PAC CORP US UNP 66.92 $13,934.13
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 9,767.59 $10,671.09
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 26,046.91 $29,921.38
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 363,309.66 $520,696.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 512,305.47 $670,900.03
9128282A7 UNITED STATES TREAS NTS 1.50000 08/15/2026 US 575,774.28 $609,668.50
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 853,152.74 $860,951.09
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,810,263.67 $1,949,851.98
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 696,402.22 $741,505.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 123,727.26 $133,538.45
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 670,612.78 $721,397.73
918204108 VF CORP US VFC 59.79 $5,106.87
91913Y100 VALERO ENERGY US VLO 63.33 $3,582.35
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 261,527.57 $354,419.55
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,119.01 $264,467.57
92556V106 VIATRIS INC US VTRS 55.22 $1,034.77
92826C839 VISA INC - CLASS A SHARES US V 2,844.98 $622,282.67
92826CAK8 VISA INC 2.70000 04/15/2040 US 273,162.78 $298,193.10
92837TAA0 AUSTIN BIDCO INC 7.12500 12/15/2028 US 2,778.22 $2,899.77
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 167,796.46 $184,467.89
929160109 VULCAN MATERIALS CO US VMC 1,430.62 $212,175.36
93065PAA9 WBHT 2019-WBM A FLT 1.20900 12/15/2033 US 139,218.63 $135,399.32
931142103 WAL MART STORES US WMT 169.02 $24,364.18
94106L109 WASTE MANAGEMENT INC US WM 55.48 $6,542.46
949746101 WELLS FARGO COMPANY US WFC 375.42 $11,330.29
95040Q104 WELLTOWER INC. US WELL 180.38 $11,656.42
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 14,499.33 $15,826.02
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 229,573.7 $261,951.99
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 34,834.79 $35,746.31
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 186.64 $11,094.11
98978V103 ZOETIS INC US ZTS 638.86 $105,731.38
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,423.47 $56,286.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,481.13 $9,554.67
B1Y47Y7 GERRESHEIMER AG DE GXI GR 151.58 $16,346.59
B1Y9TB3 DANONE FR BN FP 571.85 $37,630.95
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,534.71 $47,651.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 315,638.64 $15,994.87
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 52,784.47 $42,981.46
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 489,702.63 $25,335.24
B4YVF56 BRENNTAG AG DE BNR GR 331.35 $25,765.93
B63QM77 NEXON CO LTD JP 3659 JP 14,892.11 $459,494.57
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 147,587.58 $8,713.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 349.49 $13,647.60
BD6K457 COMPASS GROUP PLC GB CPG LN 870.32 $16,232.62
BFZZM64 S4 CAPITAL PLC GB SFOR LN 3,564.14 $24,369.83
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,802.57 $8,180.37
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 26,046.91 $28,061.63
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 139.09 $9,014.89
BJ2KSG2 AKZO NOBEL NL AKZA NA 122.67 $13,166.54
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 26,046.91 $26,100.30
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,112.6 $439,824.71
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 497.07 $7,336.81
BNGN9Z1 FINECOBANK SPA IT FBK IM 3,454.44 $56,970.76
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 891.89 $28,308.54
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,360.55 $19,214.29
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 5,482.31 $15,400.45
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 729.33 $18,023.31
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,677.71 $117,048.55
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 9,183.95 $17,202.44
BZ1HM42 ADYEN NV NL ADYEN NA 6.21 $14,423.65
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 549.69 $17,128.26
G1151C101 ACCENTURE PLC - CL A IE ACN 43.22 $11,289.13
G29183103 EATON CORP PLC US ETN 58.09 $6,979.02
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 127.56 $5,943.18
G5494J103 LINDE PLC GB LIN 38.48 $10,139.41
G5960L103 MEDTRONIC INC IE MDT 2,354.67 $275,826.58
G85158106 STONECO LTD-A BR STNE 376.14 $31,566.00
G8994E103 TRANE TECHNOLOGIES IE TT 150.68 $21,872.05
G97822103 PERRIGO CO PLC IE PRGO 515.75 $23,064.30
H01301128 ALCON INC CH ALC 8,618.11 $568,623.21
H1467J104 CHUBB LTD CH CB 49.46 $7,613.03
H2906T109 GARMIN LTD CH GRMN 25.5 $3,051.19
N53745100 LYONDELLBASELL INDU-CL A US LYB 55.55 $5,091.43
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 19,535.18 $20,121.24
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 26,046.91 $24,761.40

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate 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

$18.87

Daily $ Change

$0.02

Daily % Change

0.11%

as of 01/14/2021

CUSIP

302027636

Inception Date

08/17/2012

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 balanced mix of investments that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 25% - 65%.

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. During the target year, the portfolio’s stock exposure can range from 20% - 60%. 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 plan to stop contributions and start periodic withdrawals around the year 2025
  • Who have a moderate tolerance for risk and can accept fluctuations in current 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 12/31/2020

YTD

---

1 Year

16.05%

3 Year

9.64%

5 Year

9.04%

10 Year

7.35%

Inception
(01/01/2000)

6.94%

Performance through the inception date of the Retirement Target CIT Class S units is based on 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 S 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 0.90%
Net 0.89%*

*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 12/31/2020

TREASURY NOTES 9.88%
GOVERNMENT AGENCY 7.78%
TSY INFL IX N/B 0.12500 04/15/2025 1.48%
NOVARTIS AG- REG 1.44%
EXPEDIA INC 1.42%
UNILEVER PLC - ADR 1.39%
TREASURY BONDS 1.38%
JOHNSON & JOHNSON 1.34%
AMAZON.COM INC 1.33%
MASTERCARD INC-CLASS A 1.30%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2020

Bonds
49.78%
Stocks
48.93%
Cash
1.29%

Detailed Asset Class Allocation

As of 12/31/2020

International Equities
13.79%
Small Capitalization
1.95%
Mid Capitalization
7.64%
Large Capitalization
25.56%
Long Term Fixed Income
15.76%
Intermediate Term Fixed Income
31.08%
Short Term Fixed Income
2.93%
Cash
1.29%

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 12/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 103,239.27 $120,762.40
00287Y109 ABBVIE INC US ABBV 137.05 $14,685.20
00507V109 ACTIVISION INC US ATVI 3,726.52 $346,007.77
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 14,976.97 $16,081.52
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 316,404.8 $352,436.08
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 15,628.14 $17,269.10
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 10,592.29 $11,098.50
008492100 AGREE REALTY CORP US ADC 309.89 $20,632.62
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 151,370.97 $162,223.07
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 79,288.59 $87,215.65
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 19,708.71 $21,408.63
01609W102 ALIBABA GROUP - ADR CN BABA 1,281.67 $298,282.78
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 367,979.76 $411,953.84
020002101 ALLSTATE CORPORATION US ALL 40.41 $4,441.80
02079K305 ALPHABET INC-CL A US GOOGL 333.47 $584,457.13
023135106 AMAZON.COM INC US AMZN 199.25 $648,949.50
0237400 DIAGEO PLC GB DGE LN 4,505.51 $178,277.42
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 372.18 $15,917.97
025816109 AMERICAN EXPRESS CO US AXP 2,045.38 $247,306.35
02665T306 AMERICAN HOMES 4 RENT- A US AMH 959.13 $28,773.78
03027X100 AMERICAN TOWER REIT INC US AMT 1,164.96 $261,485.98
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 264,819.45 $307,889.06
03064D108 AMERICOLD REALTY TRUST US COLD 846.96 $31,616.83
032654105 ANALOG DEVICES INC US ADI 36.94 $5,457.38
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 16,930.49 $16,634.21
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 11,069.94 $10,629.35
03690EAA6 ANTERO MIDSTREAM PART/FI 7.87500 05/15/2026 US 4,558.21 $4,706.72
03750L109 APARTMENT INCOME REIT CO US AIRC 331.72 $12,741.34
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,321.91 $17,065.89
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 82.09 $4,138.04
04364VAR4 ASCENT RESOURCES 8.25000 12/31/2028 US 9,594.06 $9,570.07
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 108,709.81 $115,465.04
053015103 AUTOMATIC DATA PROCESSING US ADP 35.4 $6,238.34
053484101 AVALONBAY COMMUNITIES INC US AVB 98.28 $15,766.89
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 136,234.33 $139,002.37
055622104 BP PLC-SPONS ADR GB BP 4,204.26 $86,271.40
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 382,113.7 $389,759.80
05722G100 BAKER HUGHES CO US BKR 163.39 $3,406.76
060505104 BANK OF AMERICA CORP US BAC 590.22 $17,889.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 159,243.59 $178,939.07
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 14,976.97 $15,434.37
084423102 WR BERKLEY CORP US WRB 3,984.86 $264,674.35
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,770.85 $410,607.50
086516101 BEST BUY INC US BBY 47.57 $4,746.83
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 3,351.34 $293,879.22
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 414.22 $19,508.46
105368203 BRANDYWINE REALTY TRUST US BDN 857.19 $10,209.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 194.72 $12,078.36
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 49,662.65 $4.97
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 16,279.32 $16,231.78
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,093.49 $101,825.66
12514G108 CDW CORP/DE US CDW 1,515.78 $199,764.41
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 118,291.65 $120,493.66
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 100,507.81 $101,791.10
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 29.29 $2,749.71
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 26,215.26 $26,948.68
12572Q105 CME GROUP INC US CME 549.22 $99,985.21
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 343,902.33 $376,170.52
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 181,504.01 $203,003.20
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 191,056.85 $209,321.43
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 60,251.67 $61,333.54
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 11,069.94 $11,263.66
127097103 CABOT OIL & GAS CORP US COG 27,577.65 $448,964.09
133131102 CAMDEN PROPERTY TRUST US CPT 199.35 $19,919.38
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 172,906.45 $192,022.82
13321L108 CAMECO CORP CA CCJ 19,433.03 $260,402.53
14174T107 CARETRUST REIT INC US CTRE 408.08 $9,051.12
149123101 CATERPILLAR INC US CAT 61.62 $11,216.85
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 43,131.36 $43,314.58
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 603.48 $399,232.51
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 38,344.31 $38,563.45
172062101 CINCINNATI FINANCIAL CORP US CINF 23.15 $2,022.27
17275R102 CISCO SYSTEMS INC US CSCO 339.61 $15,197.58
172967424 CITIGROUP INC US C 176.93 $10,909.43
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 201,963.28 $238,748.51
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 194,877.99 $196,565.63
191216100 COCA COLA CO/THE US KO 7,664.22 $420,305.67
194162103 COLGATE-PALMOLIVE CO US CL 101.77 $8,702.31
20030N101 COMCAST CORP-CL A US CMCSA 263.99 $13,833.14
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 251,892.3 $285,994.96
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 326.67 $15,389.23
20449X401 COMPASS GROUP PLC ADR GB CMPGY 10,732.23 $201,014.59
205887102 CONAGRA BRAND INC. US CAG 90.14 $3,268.32
20605P101 CONCHO RESOURCES INC US CXO 4,867.52 $284,019.93
20825C104 CONOCOPHILLIPS US COP 5,309.45 $212,324.89
21036P108 CONSTELLATION BRANDS INC-A US STZ 20.92 $4,583.28
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 1,773.32 $22,024.69
217204106 COPART INC US CPRT 1,746.98 $222,302.83
222795502 COUSINS PROPERTIES INC US CUZ 892.21 $29,888.90
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 32,276.68 $32,999.99
22822V101 CROWN CASTLE INTL CORP US CCI 190.71 $30,359.89
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 177,998.74 $196,142.86
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 37,057.64 $37,728.35
229663109 CUBESMART US CUBE 332.17 $11,164.24
231021106 CUMMINS INC US CMI 24.52 $5,567.98
253868103 DIGITAL REALTY TRUST INC US DLR 307.5 $42,899.96
256746108 DOLLAR TREE STORES INC US DLTR 1,825.11 $197,185.35
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 163,889.43 $186,685.60
25960P109 DOUGLAS EMMETT INC US DEI 483.8 $14,117.28
260003108 DOVER CORP US DOV 20.33 $2,567.05
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 13,023.45 $16,637.46
264411505 DUKE RLTY INVTS INC US DRE 651.46 $26,039.04
26875P101 EOG RESOURCES INC US EOG 3,978.81 $198,423.44
26884L109 EQT CORP US EQT 13,553.53 $172,265.42
26884LAG4 EQT CORP 8.75000 02/01/2030 US 11,721.11 $14,358.36
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,719.43 $44,252.22
285512109 ELECTRONIC ARTS US EA 1,582.34 $227,223.85
291011104 EMERSON ELEC CO US EMR 86.83 $6,978.36
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 286,100.34 $349,038.33
29275YAC6 ENERSYS 4.37500 12/15/2027 US 1,953.52 $2,065.85
29444U700 EQUINIX INC US EQIX 584.54 $417,465.35
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 461.34 $29,230.46
297178105 ESSEX PROPERTY TRUST INC US ESS 48.91 $11,611.09
30212P303 EXPEDIA INC US EXPE 5,238.07 $693,520.30
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 105,843.96 $122,683.80
30225T102 EXTRA SPACE STORAGE INC US EXR 72.08 $8,350.85
30231G102 EXXON MOBIL CORP US XOM 5,731.89 $236,268.69
302491303 FMC CORP US FMC 1,690.29 $194,264.52
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 15,150.5 $14,449.79
30286XAN9 FREMF 2015-K43 B FLT 3.73274 02/25/2048 US 292,598.2 $319,576.28
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,280,095.92 $22,618.24
30303M102 FACEBOOK INC -A US FB 2,126.29 $580,817.17
311900104 FASTENAL CO US FAST 95.46 $4,661.20
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 3,043.48 $3,606.18
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 6,085.32 $7,090.83
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 6,652.3 $7,818.72
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 23,407.52 $27,526.65
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 3,961.04 $4,658.12
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 6,048.12 $7,134.19
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 10,413.77 $12,359.97
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 15,979.7 $18,786.03
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 6,268.2 $7,369.62
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 19,546.89 $23,088.55
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 411.26 $425.82
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 476.14 $482.70
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 357.12 $363.26
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 411.32 $423.89
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 624.39 $642.39
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 121,868.88 $133,043.89
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 21,476.81 $25,256.15
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 20,591.56 $22,767.80
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 414,138.93 $436,944.01
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 6,334.32 $6,860.55
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 14,125.41 $15,425.42
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 179,992.01 $201,633.16
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 33,382.68 $36,382.19
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 842,102.76 $845,377.65
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 172,388.95 $186,780.20
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 41,389.93 $42,872.13
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 29,917.9 $35,158.47
3137ADTK3 FHMS K014 X1 FLT 1.17813 04/25/2021 US 550,526.54 $642.91
3137AJMG6 FMHS K016 X1 FLT 1.48098 10/25/2021 US 481,778.65 $2,479.86
3137AME78 FHMS K017 X1 FLT 1.28567 12/25/2021 US 868,852.2 $5,957.81
3137AUPF0 FHMS K021 x1 FLT 1.40440 06/25/2022 US 1,797,372.51 $26,547.91
3137B3NB0 FHMS K030 X1 FLT 0.16985 04/25/2023 US 5,678,753.96 $19,908.58
3137B4GZ3 FHMS K032 X1 FLT 0.08901 05/25/2023 US 3,660,278.9 $9,208.53
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 39,951.38 $40,426.50
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 19,288.75 $19,452.03
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 17,137.29 $19,409.35
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 103,006.94 $115,070.34
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64100 01/01/2049 US 228,655.76 $268,033.53
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 47,308.1 $55,600.33
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 7,122.76 $8,372.72
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 35,611.76 $38,496.34
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 35,099.28 $37,517.77
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 79,576.71 $86,037.66
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 91,796.57 $98,936.84
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 205.55 $207.16
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 316.59 $320.04
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 749.07 $751.91
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 953.49 $958.65
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 13,200.07 $15,496.13
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 21,573.89 $25,545.67
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 19,972.37 $23,474.15
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 8,949.02 $10,464.86
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 2.33 $2.34
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 355.31 $357.54
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 34,318.1 $37,936.31
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 57,727.12 $63,814.59
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 36,212.76 $38,348.94
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 414,135.78 $437,369.36
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 421,314.3 $437,696.78
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 9,758.8 $11,573.26
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 5,517 $6,573.11
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 11,385.67 $13,357.16
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,823.8 $23,304.93
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 883.88 $932.93
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316773100 FIFTH THIRD BANCORP US FITB 117.49 $3,239.27
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345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 13,674.63 $16,765.23
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34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 2,950.02 $3,083.09
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36257MAA3 GSMS 2019-70P A 1.15900 10/15/2036 US 127,631.57 $124,430.56
369550108 GENERAL DYNAMICS CORP US GD 33.77 $5,026.05
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 228,181.99 $212,266.29
370334104 GENERAL MLS INC US GIS 89.02 $5,234.63
372460105 GENUINE PARTS CO US GPC 30.11 $3,023.84
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 20,359.88 $22,039.57
374297109 GETTY REALTY CORP US GTY 464.51 $12,792.57
375558103 GILEAD SCIENCES INC US GILD 125.41 $7,306.40
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 26,046.91 $26,698.08
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 153,961.11 $156,269.56
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 122,804.78 $128,870.70
383909AF5 WR GRACE & CO-CONN 5.62500 10/01/2024 US 8,942.89 $9,647.14
384802104 WW GRAINGER INC US GWW 7.22 $2,949.59
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 24,879.63 $421,460.96
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 94.81 $10,551.02
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 71.28 $11,755.96
4012250 AIRBUS SE FR AIR FP 109.52 $12,019.45
4031976 ADIDAS AG DE ADS GR 50.57 $18,398.17
404119BX6 HCA INC 4.12500 06/15/2029 US 153,425.98 $177,986.66
416515104 HARTFORD FINL SVCS US HIG 61.29 $3,002.20
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 10,592.29 $10,989.50
419792A22 HAWAII ST 2.68200 10/01/2030 US 115,238.87 $120,020.13
421946104 HEALTHCARE REALTY TRUST INC US HR 514.14 $15,218.62
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 649.27 $17,880.85
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 858.53 $25,953.30
423012301 HEINEKEN NV-SPN ADR NL HEINY 3,712.74 $207,319.27
427866108 HERSHEY CO/THE US HSY 31.12 $4,741.22
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 9,420.53 $10,562.77
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,074.64 $119,564.52
437076102 HOME DEPOT INC US HD 83.53 $22,186.91
438516106 HONEYWELL INTERNATIONAL INC US HON 68.75 $14,623.58
440452100 HORMEL FOODS CORP US HRL 61.07 $2,846.41
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 9,116.42 $10,666.21
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 10,418.76 $11,226.22
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 9,767.59 $10,780.98
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 14,976.97 $15,201.63
45168D104 IDEXX LABORATORIES INC US IDXX 441.65 $220,767.35
452308109 ILLINOIS TOOL WKS INC US ITW 39.16 $7,984.79
45337C102 INCYTE CORP US INCY 1,574.55 $136,954.24
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 10,418.76 $10,653.18
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 15,628.14 $15,803.96
45778Q107 INSPERITY INC US NSP 2,333.7 $190,010.04
458140100 INTEL CORP US INTC 320.52 $15,968.26
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,660.39 $422,005.92
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 86.44 $10,880.72
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.07 $1,640.42
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 18,884.01 $20,536.36
46187BAA1 IHSFR 2017-SFR2 A 1.00300 12/17/2036 US 60,139.54 $59,992.85
46187BAB9 IHSFR 2017-SFR2 B 1.30300 12/17/2036 US 50,097.35 $49,976.06
46187W107 INVITATION HOMES INC US INVH 1,542.89 $45,823.79
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 10,418.76 $10,913.65
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 65,117.27 $68,474.86
46625H100 JP MORGAN CHASE & CO US JPM 189.02 $24,019.13
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 27,464.43 $27,855.40
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 32,355.22 $32,993.10
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 62,995.45 $64,429.47
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 286,100.34 $313,735.05
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 15,879.14 $15,889.64
478160104 JOHNSON & JOHNSON US JNJ 4,141.49 $651,787.19
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 50,617.94 $495.25
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 8,204.78 $9,291.91
482480100 KLA-TENCOR CORPORATION US KLAC 23.74 $6,145.58
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 15,628.14 $17,542.59
49427F108 KILROY REALTY CORP US KRC 390.43 $22,410.93
494368103 KIMBERLY CLARK CORP US KMB 43.61 $5,879.84
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 208,993.87 $285,968.33
49474FXR6 KING CNTY WA 1.30000 12/01/2028 US 27,591.35 $27,838.02
501044101 KROGER CO US KR 124.46 $3,952.98
50212YAC8 LPL HOLDINGS INC 4.62500 11/15/2027 US 10,418.76 $10,783.42
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 19,535.18 $19,486.34
5107401 BEIERSDORF AG DE BEI GR 238.1 $27,371.75
512816109 LAMAR ADVERTISING CO-A US LAMR 153.83 $12,802.13
53223X107 LIFE STORAGE INC US LSI 151.87 $18,132.08
532457108 ELI LILLY & CO US LLY 61.4 $10,366.53
539830109 LOCKHEED MARTIN CORP US LMT 27.76 $9,852.86
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 8,465.24 $8,867.34
54240F202 LONESTAR RES US INC NPV US 668.47 $1,216.62
550021109 LULULEMON - ADR CA LULU 45.24 $15,745.41
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 15,628.14 $16,722.11
55303XAL9 MGM GROWTH/MGM FINANCE 3.87500 02/15/2029 US 10,592.29 $10,830.62
56585A102 MARATHON PETROLEUM CORP US MPC 105.14 $4,348.51
573284106 MARTIN MARIETTA MATERIALS US MLM 353.7 $100,440.68
57636Q104 MASTERCARD INC-CLASS A US MA 1,774.41 $633,358.69
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 15,801.67 $15,959.69
5852842 ACCOR SA FR AC FP 222.65 $8,077.84
58933Y105 MERCK & CO INC US MRK 196.16 $16,045.83
594918104 MICROSOFT CORP US MSFT 1,881.98 $418,591.00
595112103 MICRON TECHNOLOGY INC US MU 5,520.23 $415,010.96
59522J103 MID-AMERICA APARTMENT COMM US MAA 270.38 $34,254.42
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,276.99 $425,485.73
615369105 MOODY'S CORPORATION US MCO 573.44 $166,435.41
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 15,628.14 $11,877.39
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 14,499.33 $10,267.34
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 15,288.63 $36,936.00
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 15,454.61 $16,806.89
63938EAC8 NAVSL 2014-1 A3 FLT 0.65800 06/25/2031 US 26,604.7 $26,014.35
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 9,767.59 $10,451.32
64033QAB5 NSLT 2015-2A A2 0.74800 09/25/2047 US 145,894.27 $143,416.82
64110D104 NETAPP INC US NTAP 40.02 $2,650.59
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 20,359.88 $21,625.86
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 50,196.67 $53,779.05
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 68,026.97 $72,490.90
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 134,141.57 $142,931.18
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 66,380.13 $68,385.47
655844108 NORFOLK SOUTHN CORP US NSC 870.09 $206,741.04
6642321 NIKON CORP JP 7731 JP 24,501.85 $154,799.69
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 49,142.06 $331.71
66987V109 NOVARTIS AG- REG CH NVS 7,411.2 $699,839.89
670346105 NUCOR CORP US NUE 60.5 $3,218.23
6742340 SHANDONG WEIGAO CN 1066 HK 17,016.39 $38,498.14
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 9,767.59 $11,464.71
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 14,325.8 $12,803.68
6821506 SONY CORP FIRST SECTION JP 6758 JP 275.21 $27,732.44
68389X105 ORACLE CORP US ORCL 189.52 $12,259.90
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 14,325.8 $14,959.64
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 115,829.76 $116,458.47
69121KAE4 OWL ROCK CAPITAL CORP 3.40000 07/15/2026 US 16,279.32 $16,512.41
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 232,704.18 $238,172.59
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 10,592.29 $10,565.81
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 15,628.14 $16,800.25
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 9,594.06 $9,905.87
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 70,541.34 $72,133.15
693475105 PNC FINANCIAL SERVICES GROUP US PNC 38.74 $5,772.07
693506107 PPG INDUSTRIES INC US PPG 27.72 $3,997.98
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 14,499.33 $15,659.28
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 15,628.14 $17,308.17
701094104 PARKER HANNIFIN CORP US PH 16.57 $4,514.87
7021963 DEUTSCHE BOERSE AG DE DB1 GR 281.29 $47,896.07
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,863.4 $436,408.55
7123870 NESTLE SA-REGISTERED CH NESN SW 3,261.75 $385,576.01
713448108 PEPSICO INC US PEP 1,381.82 $204,923.22
717081103 PFIZER INC US PFE 426.46 $15,697.84
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,664.92 $303,507.41
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 314,927.2 $357,932.15
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 15,628.14 $16,604.90
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 11,069.94 $12,121.58
74340W103 PROLOGIS US PLD 927.51 $92,435.31
74460D109 PUBLIC STORAGE INC US PSA 151.64 $35,017.83
747525103 QUALCOMM INC US QCOM 86.93 $13,243.23
74834L100 QUEST DIAGNOSTICS INC US DGX 24.42 $2,910.40
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 22,139.87 $24,314.01
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 133.51 $9,547.34
756109104 REALTY INCOME CORP US O 160.16 $9,957.40
7591EP100 REGIONS FINANCIAL CORP. US RF 173.75 $2,800.87
76131D103 RESTAURANT BRANDS INTERN CA QSR 279.21 $17,062.55
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 325.02 $15,961.54
7698356 GETINGE AB-B SHS SE GETIB SS 1,817.8 $42,539.55
773903109 ROCKWELL AUTOMATION INC US ROK 17.13 $4,296.24
7792559 HEINEKEN NV NL HEIA NA 230.98 $25,740.42
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,055.79 $69,095.19
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 2,055.85 $226,101.92
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 165,264.18 $169,451.52
78409V104 S&P GLOBAL INC US SPGI 406.4 $133,594.83
78410G104 SBA COMMUNICATIONS CORP US SBAC 952.58 $268,750.72
78442PGC4 SLM CORP 5.12500 04/05/2022 US 22,791.04 $23,303.84
78442PGD2 SLM CORP 4.20000 10/29/2025 US 19,708.71 $20,817.33
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 36,614.94 $37,998.86
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 224,292.2 $225,052.28
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 1,412.63 $1,415.11
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 307,896.61 $372,278.51
806857108 SCHLUMBERGER LTD NL SLB 5,407.62 $118,048.40
81141R100 SEA LTD - ADR SG SE 180.44 $35,917.55
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 93,905 $95,401.34
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 36,042.67 $36,617.35
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 48,765.12 $49,544.76
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 39,887.75 $40,270.33
81762P102 SERVICENOW INC US NOW 376.27 $207,112.81
83088M102 SKYWORKS SOLUTIONS INC US SWKS 21.18 $3,238.59
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 22.89 $2,645.57
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 20,864.11 $21,326.01
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 101,591.88 $104,562.84
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 23,079.56 $23,847.55
835699307 SONY CORP SPONSORED ADR JP SNE 2,368.73 $239,479.08
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 140,713.2 $147,221.19
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 229,140.74 $265,381.84
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 10,418.76 $12,320.19
85254J102 STAG INDUSTRIAL INC US STAG 331.09 $10,369.81
854502101 STANLEY WORKS/THE US SWK 20.07 $3,584.16
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 15,628.14 $16,018.85
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.62863 11/15/2027 US 190,082.59 $125,454.51
857949BL0 SS INT BEARING FD .022% 01/02/15 US 639,283.03 $639,283.03
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 20,359.88 $21,123.38
866674104 SUN COMMUNITIES US SUI 276.9 $42,075.08
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 153,093.39 $154,536.38
87105L104 SWITCH INC - A US SWCH 1,490.31 $24,396.38
871829107 SYSCO CORP US SYY 66.79 $4,959.83
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 157.58 $17,182.18
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 9,941.12 $8,102.01
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 9,767.59 $9,503.57
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 16,566.02 $16,603.05
87901JAE5 TEGNA INC 4.62500 03/15/2028 US 9,594.06 $9,809.93
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 249,548.77 $284,331.31
88146M101 TERRENO REALTY CORP US TRNO 235.84 $13,799.25
882508104 TEXAS INSTRUMENTS INC US TXN 89.12 $14,627.25
883556102 THERMO FISHER SCIENTIFIC INC US TMO 427.15 $198,958.83
88579Y101 3M CO US MMM 60.38 $10,554.30
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,277.92 $95,467.61
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 153,416.94 $156,399.47
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 86,799.06 $88,960.49
89177EAA7 TPMT 2019-HY1 A1 1.14800 10/25/2048 US 81,692.68 $82,010.18
89417E109 TRAVELLERS COS INC US TRV 33.87 $4,754.08
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 112,501.65 $115,979.18
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 43,035.57 $43,494.09
89832Q109 TRUIST FINANCIAL CORP US TFC 167.21 $8,014.56
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 25,395.73 $24,887.82
902494103 TYSON FOODS INC -CL A US TSN 52.6 $3,389.78
902653104 UDR INC US UDR 511.49 $19,656.43
902973304 U.S. BANCORP US USB 178.1 $8,297.72
904767704 UNILEVER PLC - ADR GB UL 11,192.31 $675,568.03
907818108 UNION PAC CORP US UNP 66.92 $13,934.13
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 9,767.59 $10,671.09
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 26,046.91 $29,921.38
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 363,309.66 $520,696.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 512,305.47 $670,900.03
9128282A7 UNITED STATES TREAS NTS 1.50000 08/15/2026 US 575,774.28 $609,668.50
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 853,152.74 $860,951.09
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,810,263.67 $1,949,851.98
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 696,402.22 $741,505.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 123,727.26 $133,538.45
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 670,612.78 $721,397.73
918204108 VF CORP US VFC 59.79 $5,106.87
91913Y100 VALERO ENERGY US VLO 63.33 $3,582.35
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 261,527.57 $354,419.55
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,119.01 $264,467.57
92556V106 VIATRIS INC US VTRS 55.22 $1,034.77
92826C839 VISA INC - CLASS A SHARES US V 2,844.98 $622,282.67
92826CAK8 VISA INC 2.70000 04/15/2040 US 273,162.78 $298,193.10
92837TAA0 AUSTIN BIDCO INC 7.12500 12/15/2028 US 2,778.22 $2,899.77
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 167,796.46 $184,467.89
929160109 VULCAN MATERIALS CO US VMC 1,430.62 $212,175.36
93065PAA9 WBHT 2019-WBM A FLT 1.20900 12/15/2033 US 139,218.63 $135,399.32
931142103 WAL MART STORES US WMT 169.02 $24,364.18
94106L109 WASTE MANAGEMENT INC US WM 55.48 $6,542.46
949746101 WELLS FARGO COMPANY US WFC 375.42 $11,330.29
95040Q104 WELLTOWER INC. US WELL 180.38 $11,656.42
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 14,499.33 $15,826.02
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 229,573.7 $261,951.99
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 34,834.79 $35,746.31
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 186.64 $11,094.11
98978V103 ZOETIS INC US ZTS 638.86 $105,731.38
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,423.47 $56,286.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,481.13 $9,554.67
B1Y47Y7 GERRESHEIMER AG DE GXI GR 151.58 $16,346.59
B1Y9TB3 DANONE FR BN FP 571.85 $37,630.95
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,534.71 $47,651.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 315,638.64 $15,994.87
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 52,784.47 $42,981.46
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 489,702.63 $25,335.24
B4YVF56 BRENNTAG AG DE BNR GR 331.35 $25,765.93
B63QM77 NEXON CO LTD JP 3659 JP 14,892.11 $459,494.57
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 147,587.58 $8,713.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 349.49 $13,647.60
BD6K457 COMPASS GROUP PLC GB CPG LN 870.32 $16,232.62
BFZZM64 S4 CAPITAL PLC GB SFOR LN 3,564.14 $24,369.83
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,802.57 $8,180.37
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 26,046.91 $28,061.63
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 139.09 $9,014.89
BJ2KSG2 AKZO NOBEL NL AKZA NA 122.67 $13,166.54
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 26,046.91 $26,100.30
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,112.6 $439,824.71
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 497.07 $7,336.81
BNGN9Z1 FINECOBANK SPA IT FBK IM 3,454.44 $56,970.76
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 891.89 $28,308.54
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,360.55 $19,214.29
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 5,482.31 $15,400.45
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 729.33 $18,023.31
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,677.71 $117,048.55
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 9,183.95 $17,202.44
BZ1HM42 ADYEN NV NL ADYEN NA 6.21 $14,423.65
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 549.69 $17,128.26
G1151C101 ACCENTURE PLC - CL A IE ACN 43.22 $11,289.13
G29183103 EATON CORP PLC US ETN 58.09 $6,979.02
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 127.56 $5,943.18
G5494J103 LINDE PLC GB LIN 38.48 $10,139.41
G5960L103 MEDTRONIC INC IE MDT 2,354.67 $275,826.58
G85158106 STONECO LTD-A BR STNE 376.14 $31,566.00
G8994E103 TRANE TECHNOLOGIES IE TT 150.68 $21,872.05
G97822103 PERRIGO CO PLC IE PRGO 515.75 $23,064.30
H01301128 ALCON INC CH ALC 8,618.11 $568,623.21
H1467J104 CHUBB LTD CH CB 49.46 $7,613.03
H2906T109 GARMIN LTD CH GRMN 25.5 $3,051.19
N53745100 LYONDELLBASELL INDU-CL A US LYB 55.55 $5,091.43
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 19,535.18 $20,121.24
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 26,046.91 $24,761.40

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate 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.


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