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 growth-oriented mix of investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 30% - 70%.

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 2030
  • Who have some time to pursue growth 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

$22.35

Daily $ Change

$0.20

Daily % Change

0.89%

as of 11/24/2020

CUSIP

302027628

Inception Date

05/31/2007

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 10/31/2020

YTD

7.42%

1 Year

11.28%

3 Year

7.87%

5 Year

7.85%

10 Year

7.74%

Inception
(01/01/2000)

7.21%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) 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 I 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 0.69%
Net 0.69%*

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

Top Ten Investments

As of 10/31/2020

TREASURY NOTES 6.46%
GOVERNMENT AGENCY 5.05%
TREASURY BONDS 2.29%
EXPEDIA INC 1.63%
TSY INFL IX N/B 2.00000 01/15/2026 1.63%
UNILEVER PLC - ADR 1.63%
NOVARTIS AG- REG 1.56%
AMAZON.COM INC 1.52%
JOHNSON & JOHNSON 1.50%
VISA INC - CLASS A SHARES 1.48%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2020

Stocks 58.43%
Bonds 40.15%
Cash 1.42%

Detailed Asset Class Allocation

As of 10/31/2020

International Equities 17.14%
Small Capitalization 2.56%
Mid Capitalization 10.06%
Large Capitalization 28.67%
Long Term Fixed Income 13.02%
Intermediate Term Fixed Income 22.45%
Short Term Fixed Income 4.68%
Cash 1.42%

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

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 205,400.69 $236,295.78
00287Y109 ABBVIE INC US ABBV 550.69 $46,863.41
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 61,165.14 $312,553.86
00507V109 ACTIVISION INC US ATVI 13,044.71 $987,876.23
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 40,726 $42,304.13
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 616,202.07 $626,597.06
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 42,496.69 $42,602.94
008492100 AGREE REALTY CORP US ADC 1,262.51 $78,363.75
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 467,463.64 $466,590.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 54,891.56 $57,817.81
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 37,184.61 $39,919.16
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 133.16 $20,175.84
01609W102 ALIBABA GROUP - ADR CN BABA 5,372.29 $1,636,883.18
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 733,067.98 $817,913.19
020002101 ALLSTATE CORPORATION US ALL 155.82 $13,829.13
02079K305 ALPHABET INC-CL A US GOOGL 977.42 $1,579,624.66
023135106 AMAZON.COM INC US AMZN 683.49 $2,075,173.62
0237400 DIAGEO PLC GB DGE LN 18,276.06 $590,645.53
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,970.08 $73,799.04
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,196.11 $90,353.90
03027X100 AMERICAN TOWER REIT INC US AMT 3,923.86 $901,114.78
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 616,202.07 $701,196.50
03064D108 AMERICOLD REALTY TRUST US COLD 2,724.75 $98,717.56
03217CAA4 AMS AG 7.00000 07/31/2025 AT 70,827.82 $74,900.42
032654105 ANALOG DEVICES INC US ADI 142.36 $16,874.40
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 46,038.09 $41,434.28
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 30,101.83 $26,790.62
03748R754 APARTMENT INVT & MGMT CO -A US AIV 1,218.24 $38,861.81
03784Y200 APPLE HOSPITALITY REIT INC US APLE 6,266.49 $62,038.27
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 326.52 $15,098.11
053015103 AUTOMATIC DATA PROCESSING US ADP 139.53 $22,040.29
053484101 AVALONBAY COMMUNITIES INC US AVB 403.72 $56,169.37
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 269,145.73 $245,673.68
055622104 BP PLC-SPONS ADR GB BP 1,620.19 $25,080.49
05722G100 BAKER HUGHES CO US BKR 720.67 $10,644.34
060505104 BANK OF AMERICA CORP US BAC 2,397.88 $56,829.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 318,725.21 $354,364.68
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 40,726 $40,252.76
084423102 WR BERKLEY CORP US WRB 14,764.06 $887,615.28
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 6,413.46 $1,294,877.47
086516101 BEST BUY INC US BBY 173.88 $19,396.57
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 11,442.24 $851,645.55
105368203 BRANDYWINE REALTY TRUST US BDN 3,858.35 $33,799.11
110122108 BRISTOL MYERS SQUIBB CO US BMY 729.53 $42,640.83
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 136,343.56 $136.34
12503M108 CBOE GLOBAL MARKETS INC US CBOE 4,065.52 $330,485.89
12514G108 CDW CORP/DE US CDW 5,740.6 $703,796.97
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 262,190.89 $264,962.03
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 217,944.26 $219,694.24
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 113.68 $10,052.60
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 90,407.9 $93,578.77
12572Q105 CME GROUP INC US CME 2,147.85 $323,724.52
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 172,606.92 $175,851.89
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 30,101.83 $30,586.46
127097103 CABOT OIL & GAS CORP US COG 92,968.6 $1,653,911.43
133131102 CAMDEN PROPERTY TRUST US CPT 742.63 $68,500.17
13321L108 CAMECO CORP CA CCJ 80,522.03 $765,764.49
14174T107 CARETRUST REIT INC US CTRE 1,462.59 $25,010.37
149123101 CATERPILLAR INC US CAT 243.29 $38,209.26
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 123,564.1 $124,010.18
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,231.08 $1,347,168.59
166764100 CHEVRON CORP US CVX 3,888.45 $270,247.10
172062101 CINCINNATI FINANCIAL CORP US CINF 87.47 $6,187.79
17275R102 CISCO SYSTEMS INC US CSCO 1,353.87 $48,604.07
172967424 CITIGROUP INC US C 715.36 $29,630.25
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 403,718.6 $465,804.01
191216100 COCA COLA CO/THE US KO 40,251.45 $1,934,484.81
194162103 COLGATE-PALMOLIVE CO US CL 384.95 $30,368.64
20030N101 COMCAST CORP-CL A US CMCSA 995.13 $42,034.33
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 474,546.42 $527,601.13
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 997.26 $46,172.94
20449X401 COMPASS GROUP PLC ADR GB CMPGY 48,851.72 $674,153.75
205887102 CONAGRA BRAND INC. US CAG 343.51 $12,053.94
20605P101 CONCHO RESOURCES INC US CXO 23,826.48 $989,037.19
20825C104 CONOCOPHILLIPS US COP 23,215.94 $664,440.32
21036P108 CONSTELLATION BRANDS INC-A US STZ 81.45 $13,458.31
217204106 COPART INC US CPRT 6,728.64 $742,573.07
222795502 COUSINS PROPERTIES INC US CUZ 3,264.45 $83,178.30
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 329,349.38 $336,480.72
22822V101 CROWN CASTLE INTL CORP US CCI 688.09 $107,480.02
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 354,139.12 $380,550.97
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 109,385.52 $112,037.78
229663109 CUBESMART US CUBE 1,496.24 $50,767.35
231021106 CUMMINS INC US CMI 96.68 $21,258.96
253868103 DIGITAL REALTY TRUST INC US DLR 1,112 $160,461.14
256746108 DOLLAR TREE STORES INC US DLTR 7,883.14 $712,004.92
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 322,266.6 $363,575.48
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 26,560.43 $27,822.05
25960P109 DOUGLAS EMMETT INC US DEI 2,067.11 $48,783.80
260003108 DOVER CORP US DOV 80.39 $8,899.93
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 35,413.91 $40,371.86
264411505 DUKE RLTY INVTS INC US DRE 1,849.67 $70,268.91
26875P101 EOG RESOURCES INC US EOG 19,313.33 $661,288.46
26884L109 EQT CORP US EQT 47,295.28 $716,050.53
26884LAG4 EQT CORP 8.75000 02/01/2030 US 23,019.04 $28,601.16
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,015.05 $139,552.12
27579R104 EAST WEST BANCORP INC US EWBC 19,307.66 $704,343.61
285512109 ELECTRONIC ARTS US EA 5,595.4 $670,496.56
291011104 EMERSON ELEC CO US EMR 351.31 $22,761.12
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 570,163.98 $608,124.38
29444U700 EQUINIX INC US EQIX 1,992.74 $1,457,171.81
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,340.06 $79,318.30
29476L107 EQUITY RESIDENTIAL US EQR 529.44 $24,873.00
297178105 ESSEX PROPERTY TRUST INC US ESS 105.53 $21,591.09
30212P303 EXPEDIA INC US EXPE 23,631.7 $2,224,924.89
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 212,483.47 $233,661.20
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,088,977.8 $1,092,692.49
30225T102 EXTRA SPACE STORAGE INC US EXR 263.48 $30,550.45
30231G102 EXXON MOBIL CORP US XOM 16,240.82 $529,775.55
302491303 FMC CORP US FMC 6,363.88 $653,825.03
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 42,496.69 $37,928.30
30286XAN9 FREMF 2015-K43 B FLT 3.73297 02/25/2048 US 743,692.15 $808,863.31
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 48,398,593.36 $84,010.28
30291XAE2 FREMF 2014-K715 B FLT 4.00465 02/25/2046 US 619,743.46 $621,768.78
30303M102 FACEBOOK INC -A US FB 5,131.48 $1,350,142.61
311900104 FASTENAL CO US FAST 363.7 $15,722.79
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 69,981.7 $81,569.60
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 42,314.14 $49,032.23
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 30,190.89 $35,556.17
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,153.56 $1,196.36
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,756.2 $1,785.32
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,260.99 $1,286.11
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 1,324.6 $1,366.85
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 2,045.66 $2,107.94
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 289,907.42 $315,136.14
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 61,579.33 $71,361.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 226,920.71 $250,237.83
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 885,347.8 $923,842.95
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 115,425.83 $125,256.20
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 159,094.96 $173,531.70
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 1,345,728.66 $1,337,352.91
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 441,070.62 $475,971.44
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 123,430.14 $127,755.94
3137ADTK3 FHMS K014 X1 FLT 1.15276 04/25/2021 US 1,115,505.54 $2,741.02
3137AJMG6 FMHS K016 X1 FLT 1.48091 10/25/2021 US 1,326,602.45 $10,080.06
3137AME78 FHMS K017 X1 FLT 1.28576 12/25/2021 US 8,936,115.94 $79,795.94
3137AUPF0 FHMS K021 x1 FLT 1.40799 06/25/2022 US 4,192,403.57 $71,719.87
3137B3NB0 FHMS K030 X1 FLT 0.17200 04/25/2023 US 15,680,759.26 $58,931.43
3137B4GZ3 FHMS K032 X1 FLT 0.09033 05/25/2023 US 10,088,503.71 $26,459.12
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 129,501.26 $131,813.31
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 67,573.06 $68,497.12
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 50,993.29 $57,823.06
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 24,895.85 $27,967.54
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 831,292.38 $977,360.32
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 146,749.73 $171,883.19
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 77,176.2 $90,735.92
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 844.94 $855.11
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,194.01 $1,209.86
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 3,978.21 $4,005.05
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 4,539.79 $4,570.46
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 141,720.39 $167,050.25
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 27,781.94 $32,235.79
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 21.49 $21.57
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 2,248.8 $2,263.30
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 215,504.71 $237,600.53
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 112,621.54 $119,016.09
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 871,133.83 $908,823.25
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 661,713.41 $684,068.78
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 11,276.54 $13,320.68
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 2,662.5 $2,805.67
316773100 FIFTH THIRD BANCORP US FITB 496.5 $11,528.80
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,686.76 $67,150.10
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 40,726 $40,726.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 343,514.95 $353,191.73
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 37,184.61 $43,818.16
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 26,560.43 $26,759.64
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 26,560.43 $26,367.07
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 30,101.83 $29,656.62
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 26,560.43 $28,253.66
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 31,872.52 $33,306.78
357081AE8 FREMF 2015-K720 B FLT 3.39323 07/25/2022 US 378,928.86 $390,880.99
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 26,560.43 $26,294.83
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 19.76 $19.82
36257MAA3 GSMS 2019-70P A 1.14838 10/15/2036 US 327,578.69 $314,430.53
369550108 GENERAL DYNAMICS CORP US GD 132.8 $17,440.91
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 495,794.77 $401,593.76
370334104 GENERAL MLS INC US GIS 326.87 $19,324.58
372460105 GENUINE PARTS CO US GPC 121.47 $10,984.51
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 42,496.69 $44,302.80
374297109 GETTY REALTY CORP US GTY 1,714.39 $45,054.10
375558103 GILEAD SCIENCES INC US GILD 485.88 $28,253.86
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 70,827.82 $71,746.46
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 396,041.41 $413,719.16
384802104 WW GRAINGER INC US GWW 28.33 $9,916.46
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 97,228.9 $1,292,172.02
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 481.63 $40,061.92
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 347.06 $40,032.95
4012250 AIRBUS SE FR AIR FP 621.51 $45,473.61
4031976 ADIDAS AG DE ADS GR 267.38 $79,438.22
404119BX6 HCA INC 4.12500 06/15/2029 US 308,101.04 $349,637.83
416515104 HARTFORD FINL SVCS US HIG 239.04 $9,207.97
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 30,101.83 $30,064.20
421946104 HEALTHCARE REALTY TRUST INC US HR 1,518.55 $42,215.65
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 2,345.46 $56,994.76
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 3,862.6 $104,174.20
423012301 HEINEKEN NV-SPN ADR NL HEINY 15,235.07 $678,874.50
427866108 HERSHEY CO/THE US HSY 120.05 $16,502.51
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 38,955.3 $42,315.20
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 8,680.66 $762,248.59
437076102 HOME DEPOT INC US HD 320.5 $85,479.46
438516106 HONEYWELL INTERNATIONAL INC US HON 276.23 $45,563.89
440452100 HORMEL FOODS CORP US HRL 233.02 $11,345.92
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 42,496.69 $47,277.57
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 40,726 $41,642.33
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 26,560.43 $28,466.81
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 40,726 $40,758.58
452308109 ILLINOIS TOOL WKS INC US ITW 153.7 $30,106.05
45337C102 INCYTE CORP US INCY 5,110.23 $442,750.11
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 28,331.13 $27,835.33
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 42,496.69 $42,071.73
45778Q107 INSPERITY INC US NSP 9,512.18 $728,442.50
458140100 INTEL CORP US INTC 1,192.03 $52,783.19
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 6,852.59 $350,441.55
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 14,641.88 $1,382,193.66
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 337.14 $37,645.10
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 60.2 $6,180.51
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 51,350.17 $54,174.43
46187BAA1 IHSFR 2017-SFR2 A 0.99725 12/17/2036 US 158,185.79 $157,845.72
46187BAB9 IHSFR 2017-SFR2 B 1.29725 12/17/2036 US 131,031.47 $130,990.96
46187W107 INVITATION HOMES INC US INVH 5,149.54 $140,376.38
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 28,331.13 $28,205.62
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 177,069.56 $185,111.39
46625H100 JP MORGAN CHASE & CO US JPM 763.88 $74,890.61
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 88,055.3 $89,672.74
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 98,234.72 $102,701.29
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46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 570,163.98 $607,194.85
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 71,482.32 $71,695.08
478160104 JOHNSON & JOHNSON US JNJ 14,922.36 $2,046,004.80
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806857108 SCHLUMBERGER LTD NL SLB 25,940.69 $387,553.92
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81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 128,243.28 $129,067.37
81762P102 SERVICENOW INC US NOW 1,416.56 $704,836.01
83088M102 SKYWORKS SOLUTIONS INC US SWKS 82.51 $11,658.46
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 86.76 $9,734.93
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83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 291,736.79 $299,650.01
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 235,502.52 $241,775.64
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 685,259.2 $681,373.78
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85254J102 STAG INDUSTRIAL INC US STAG 1,220.72 $37,988.73
854502101 STANLEY WORKS/THE US SWK 75.43 $12,536.74
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85571XAA5 SRPT 2014-STAR A FLTG RATE 1.61838 11/15/2027 US 470,832.36 $348,548.72
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866674104 SUN COMMUNITIES US SUI 914.03 $125,798.37
87105L104 SWITCH INC - A US SWCH 5,463.3 $76,814.06
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88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 460,380.86 $518,468.98
88146M101 TERRENO REALTY CORP US TRNO 1,030.9 $58,018.99
882508104 TEXAS INSTRUMENTS INC US TXN 341.04 $49,310.39
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,618.42 $765,704.87
88579Y101 3M CO US MMM 242.59 $38,803.94
89151E109 TOTAL S A SPONSORED ADR FR TOT 19,727.32 $598,329.61
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 517,448.05 $528,738.15
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 273,806.8 $280,642.19
89177EAA7 TPMT 2019-HY1 A1 1.14925 10/25/2048 US 251,299.89 $252,125.89
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 37,892.89 $35,240.38
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89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 263,411.76 $270,901.00
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 439,132.51 $440,210.76
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92532F100 VERTEX PHARMACEUTICALS INC US VRTX 4,187.7 $872,548.15
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929160109 VULCAN MATERIALS CO US VMC 5,064.19 $733,497.20
93065PAA9 WBHT 2019-WBM A FLT 1.19838 12/15/2033 US 401,947.9 $386,869.51
931142103 WAL MART STORES US WMT 639.93 $88,790.20
94106L109 WASTE MANAGEMENT INC US WM 217.44 $23,464.10
949746101 WELLS FARGO COMPANY US WFC 1,530.59 $32,831.14
95040Q104 WELLTOWER INC. US WELL 1,173.62 $63,105.39
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 24,789.74 $26,819.40
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 471,005.03 $513,531.19
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 105,919.37 $108,985.63
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 1,446.66 $67,284.08
B02J639 ADMIRAL GROUP PLC GB ADM LN 5,122.62 $182,488.26
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,366.09 $33,268.36
B1Y47Y7 GERRESHEIMER AG DE GXI GR 1,044.71 $105,018.54
B1Y9TB3 DANONE FR BN FP 1,911.64 $106,029.36
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 12,347.06 $159,956.67
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 442,673.9 $21,119.54
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 187,693.73 $146,531.57
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,097,831.27 $53,352.07
B4YVF56 BRENNTAG AG DE BNR GR 1,366.98 $87,371.99
B63QM77 NEXON CO LTD JP 3659 JP 55,582.14 $1,549,124.76
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 531,208.68 $27,886.86
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,352.81 $37,084.45
BD6K457 COMPASS GROUP PLC GB CPG LN 3,799.91 $52,012.43
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 17,145.29 $20,740.04
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 70,827.82 $75,671.17
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 1,152.72 $58,570.31
BJ2KSG2 AKZO NOBEL NL AKZA NA 873.31 $84,001.63
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,827.82 $71,257.75
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 23,629.58 $1,805,433.41
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,742.36 $25,699.88
BNGN9Z1 FINECOBANK SPA IT FBK IM 13,907.04 $190,941.32
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 3,709.61 $91,587.43
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 8,194.78 $61,612.10
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 2,537.41 $54,382.89
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 14,964.15 $774,035.94
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 34,663.14 $60,002.86
BZ1HM42 ADYEN NV NL ADYEN NA 23.02 $38,688.99
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,625.94 $69,482.41
G1151C101 ACCENTURE PLC - CL A IE ACN 642.41 $139,344.80
G29183103 EATON CORP PLC US ETN 226.29 $23,487.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 505.36 $21,331.10
G5494J103 LINDE PLC GB LIN 152.63 $33,631.37
G5960L103 MEDTRONIC INC IE MDT 8,722.09 $877,180.83
G85158106 STONECO LTD-A BR STNE 1,558.21 $81,868.47
G8994E103 TRANE TECHNOLOGIES IE TT 579.73 $76,958.59
G97822103 PERRIGO CO PLC IE PRGO 1,937.14 $84,982.38
H01301128 ALCON INC CH ALC 33,637.2 $1,911,938.23
H1467J104 CHUBB LTD CH CB 187.69 $24,383.29
H2906T109 GARMIN LTD CH GRMN 100.93 $10,498.70
N53745100 LYONDELLBASELL INDU-CL A US LYB 239.75 $16,411.04
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 53,120.87 $52,455.26
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 70,827.82 $66,500.08

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

$22.35

Daily $ Change

$0.20

Daily % Change

0.89%

as of 11/24/2020

CUSIP

302027628

Inception Date

05/31/2007

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a moderately growth-oriented mix of investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 30% - 70%.

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 2030
  • Who have some time to pursue growth 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 10/31/2020

YTD

7.42%

1 Year

11.28%

3 Year

7.87%

5 Year

7.85%

10 Year

7.74%

Inception
(01/01/2000)

7.21%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) 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 I 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 0.69%
Net 0.69%*

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

Top Ten Investments

As of 10/31/2020

TREASURY NOTES 6.46%
GOVERNMENT AGENCY 5.05%
TREASURY BONDS 2.29%
EXPEDIA INC 1.63%
TSY INFL IX N/B 2.00000 01/15/2026 1.63%
UNILEVER PLC - ADR 1.63%
NOVARTIS AG- REG 1.56%
AMAZON.COM INC 1.52%
JOHNSON & JOHNSON 1.50%
VISA INC - CLASS A SHARES 1.48%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2020

Stocks
58.43%
Bonds
40.15%
Cash
1.42%

Detailed Asset Class Allocation

As of 10/31/2020

International Equities
17.14%
Small Capitalization
2.56%
Mid Capitalization
10.06%
Large Capitalization
28.67%
Long Term Fixed Income
13.02%
Intermediate Term Fixed Income
22.45%
Short Term Fixed Income
4.68%
Cash
1.42%

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

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 205,400.69 $236,295.78
00287Y109 ABBVIE INC US ABBV 550.69 $46,863.41
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 61,165.14 $312,553.86
00507V109 ACTIVISION INC US ATVI 13,044.71 $987,876.23
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 40,726 $42,304.13
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 616,202.07 $626,597.06
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 42,496.69 $42,602.94
008492100 AGREE REALTY CORP US ADC 1,262.51 $78,363.75
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 467,463.64 $466,590.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 54,891.56 $57,817.81
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 37,184.61 $39,919.16
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 133.16 $20,175.84
01609W102 ALIBABA GROUP - ADR CN BABA 5,372.29 $1,636,883.18
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 733,067.98 $817,913.19
020002101 ALLSTATE CORPORATION US ALL 155.82 $13,829.13
02079K305 ALPHABET INC-CL A US GOOGL 977.42 $1,579,624.66
023135106 AMAZON.COM INC US AMZN 683.49 $2,075,173.62
0237400 DIAGEO PLC GB DGE LN 18,276.06 $590,645.53
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,970.08 $73,799.04
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,196.11 $90,353.90
03027X100 AMERICAN TOWER REIT INC US AMT 3,923.86 $901,114.78
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 616,202.07 $701,196.50
03064D108 AMERICOLD REALTY TRUST US COLD 2,724.75 $98,717.56
03217CAA4 AMS AG 7.00000 07/31/2025 AT 70,827.82 $74,900.42
032654105 ANALOG DEVICES INC US ADI 142.36 $16,874.40
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 46,038.09 $41,434.28
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 30,101.83 $26,790.62
03748R754 APARTMENT INVT & MGMT CO -A US AIV 1,218.24 $38,861.81
03784Y200 APPLE HOSPITALITY REIT INC US APLE 6,266.49 $62,038.27
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 326.52 $15,098.11
053015103 AUTOMATIC DATA PROCESSING US ADP 139.53 $22,040.29
053484101 AVALONBAY COMMUNITIES INC US AVB 403.72 $56,169.37
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 269,145.73 $245,673.68
055622104 BP PLC-SPONS ADR GB BP 1,620.19 $25,080.49
05722G100 BAKER HUGHES CO US BKR 720.67 $10,644.34
060505104 BANK OF AMERICA CORP US BAC 2,397.88 $56,829.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 318,725.21 $354,364.68
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 40,726 $40,252.76
084423102 WR BERKLEY CORP US WRB 14,764.06 $887,615.28
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 6,413.46 $1,294,877.47
086516101 BEST BUY INC US BBY 173.88 $19,396.57
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 11,442.24 $851,645.55
105368203 BRANDYWINE REALTY TRUST US BDN 3,858.35 $33,799.11
110122108 BRISTOL MYERS SQUIBB CO US BMY 729.53 $42,640.83
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 136,343.56 $136.34
12503M108 CBOE GLOBAL MARKETS INC US CBOE 4,065.52 $330,485.89
12514G108 CDW CORP/DE US CDW 5,740.6 $703,796.97
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 262,190.89 $264,962.03
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 217,944.26 $219,694.24
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 113.68 $10,052.60
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 90,407.9 $93,578.77
12572Q105 CME GROUP INC US CME 2,147.85 $323,724.52
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 172,606.92 $175,851.89
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 30,101.83 $30,586.46
127097103 CABOT OIL & GAS CORP US COG 92,968.6 $1,653,911.43
133131102 CAMDEN PROPERTY TRUST US CPT 742.63 $68,500.17
13321L108 CAMECO CORP CA CCJ 80,522.03 $765,764.49
14174T107 CARETRUST REIT INC US CTRE 1,462.59 $25,010.37
149123101 CATERPILLAR INC US CAT 243.29 $38,209.26
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 123,564.1 $124,010.18
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,231.08 $1,347,168.59
166764100 CHEVRON CORP US CVX 3,888.45 $270,247.10
172062101 CINCINNATI FINANCIAL CORP US CINF 87.47 $6,187.79
17275R102 CISCO SYSTEMS INC US CSCO 1,353.87 $48,604.07
172967424 CITIGROUP INC US C 715.36 $29,630.25
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 403,718.6 $465,804.01
191216100 COCA COLA CO/THE US KO 40,251.45 $1,934,484.81
194162103 COLGATE-PALMOLIVE CO US CL 384.95 $30,368.64
20030N101 COMCAST CORP-CL A US CMCSA 995.13 $42,034.33
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 474,546.42 $527,601.13
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 997.26 $46,172.94
20449X401 COMPASS GROUP PLC ADR GB CMPGY 48,851.72 $674,153.75
205887102 CONAGRA BRAND INC. US CAG 343.51 $12,053.94
20605P101 CONCHO RESOURCES INC US CXO 23,826.48 $989,037.19
20825C104 CONOCOPHILLIPS US COP 23,215.94 $664,440.32
21036P108 CONSTELLATION BRANDS INC-A US STZ 81.45 $13,458.31
217204106 COPART INC US CPRT 6,728.64 $742,573.07
222795502 COUSINS PROPERTIES INC US CUZ 3,264.45 $83,178.30
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 329,349.38 $336,480.72
22822V101 CROWN CASTLE INTL CORP US CCI 688.09 $107,480.02
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 354,139.12 $380,550.97
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 109,385.52 $112,037.78
229663109 CUBESMART US CUBE 1,496.24 $50,767.35
231021106 CUMMINS INC US CMI 96.68 $21,258.96
253868103 DIGITAL REALTY TRUST INC US DLR 1,112 $160,461.14
256746108 DOLLAR TREE STORES INC US DLTR 7,883.14 $712,004.92
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 322,266.6 $363,575.48
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 26,560.43 $27,822.05
25960P109 DOUGLAS EMMETT INC US DEI 2,067.11 $48,783.80
260003108 DOVER CORP US DOV 80.39 $8,899.93
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 35,413.91 $40,371.86
264411505 DUKE RLTY INVTS INC US DRE 1,849.67 $70,268.91
26875P101 EOG RESOURCES INC US EOG 19,313.33 $661,288.46
26884L109 EQT CORP US EQT 47,295.28 $716,050.53
26884LAG4 EQT CORP 8.75000 02/01/2030 US 23,019.04 $28,601.16
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,015.05 $139,552.12
27579R104 EAST WEST BANCORP INC US EWBC 19,307.66 $704,343.61
285512109 ELECTRONIC ARTS US EA 5,595.4 $670,496.56
291011104 EMERSON ELEC CO US EMR 351.31 $22,761.12
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 570,163.98 $608,124.38
29444U700 EQUINIX INC US EQIX 1,992.74 $1,457,171.81
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,340.06 $79,318.30
29476L107 EQUITY RESIDENTIAL US EQR 529.44 $24,873.00
297178105 ESSEX PROPERTY TRUST INC US ESS 105.53 $21,591.09
30212P303 EXPEDIA INC US EXPE 23,631.7 $2,224,924.89
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 212,483.47 $233,661.20
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,088,977.8 $1,092,692.49
30225T102 EXTRA SPACE STORAGE INC US EXR 263.48 $30,550.45
30231G102 EXXON MOBIL CORP US XOM 16,240.82 $529,775.55
302491303 FMC CORP US FMC 6,363.88 $653,825.03
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 42,496.69 $37,928.30
30286XAN9 FREMF 2015-K43 B FLT 3.73297 02/25/2048 US 743,692.15 $808,863.31
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 48,398,593.36 $84,010.28
30291XAE2 FREMF 2014-K715 B FLT 4.00465 02/25/2046 US 619,743.46 $621,768.78
30303M102 FACEBOOK INC -A US FB 5,131.48 $1,350,142.61
311900104 FASTENAL CO US FAST 363.7 $15,722.79
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 69,981.7 $81,569.60
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 42,314.14 $49,032.23
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 30,190.89 $35,556.17
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,153.56 $1,196.36
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,756.2 $1,785.32
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,260.99 $1,286.11
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 1,324.6 $1,366.85
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 2,045.66 $2,107.94
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 289,907.42 $315,136.14
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 61,579.33 $71,361.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 226,920.71 $250,237.83
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 885,347.8 $923,842.95
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 115,425.83 $125,256.20
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 159,094.96 $173,531.70
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 1,345,728.66 $1,337,352.91
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 441,070.62 $475,971.44
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 123,430.14 $127,755.94
3137ADTK3 FHMS K014 X1 FLT 1.15276 04/25/2021 US 1,115,505.54 $2,741.02
3137AJMG6 FMHS K016 X1 FLT 1.48091 10/25/2021 US 1,326,602.45 $10,080.06
3137AME78 FHMS K017 X1 FLT 1.28576 12/25/2021 US 8,936,115.94 $79,795.94
3137AUPF0 FHMS K021 x1 FLT 1.40799 06/25/2022 US 4,192,403.57 $71,719.87
3137B3NB0 FHMS K030 X1 FLT 0.17200 04/25/2023 US 15,680,759.26 $58,931.43
3137B4GZ3 FHMS K032 X1 FLT 0.09033 05/25/2023 US 10,088,503.71 $26,459.12
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 129,501.26 $131,813.31
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 67,573.06 $68,497.12
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 50,993.29 $57,823.06
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 24,895.85 $27,967.54
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 831,292.38 $977,360.32
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 146,749.73 $171,883.19
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 77,176.2 $90,735.92
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 844.94 $855.11
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,194.01 $1,209.86
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 3,978.21 $4,005.05
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 4,539.79 $4,570.46
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 141,720.39 $167,050.25
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 27,781.94 $32,235.79
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 21.49 $21.57
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 2,248.8 $2,263.30
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 215,504.71 $237,600.53
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 112,621.54 $119,016.09
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 871,133.83 $908,823.25
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 661,713.41 $684,068.78
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 11,276.54 $13,320.68
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 2,662.5 $2,805.67
316773100 FIFTH THIRD BANCORP US FITB 496.5 $11,528.80
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,686.76 $67,150.10
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 40,726 $40,726.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 343,514.95 $353,191.73
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 37,184.61 $43,818.16
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 26,560.43 $26,759.64
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 26,560.43 $26,367.07
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 30,101.83 $29,656.62
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 26,560.43 $28,253.66
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 31,872.52 $33,306.78
357081AE8 FREMF 2015-K720 B FLT 3.39323 07/25/2022 US 378,928.86 $390,880.99
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 26,560.43 $26,294.83
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 19.76 $19.82
36257MAA3 GSMS 2019-70P A 1.14838 10/15/2036 US 327,578.69 $314,430.53
369550108 GENERAL DYNAMICS CORP US GD 132.8 $17,440.91
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 495,794.77 $401,593.76
370334104 GENERAL MLS INC US GIS 326.87 $19,324.58
372460105 GENUINE PARTS CO US GPC 121.47 $10,984.51
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 42,496.69 $44,302.80
374297109 GETTY REALTY CORP US GTY 1,714.39 $45,054.10
375558103 GILEAD SCIENCES INC US GILD 485.88 $28,253.86
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 70,827.82 $71,746.46
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 396,041.41 $413,719.16
384802104 WW GRAINGER INC US GWW 28.33 $9,916.46
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 97,228.9 $1,292,172.02
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 481.63 $40,061.92
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 347.06 $40,032.95
4012250 AIRBUS SE FR AIR FP 621.51 $45,473.61
4031976 ADIDAS AG DE ADS GR 267.38 $79,438.22
404119BX6 HCA INC 4.12500 06/15/2029 US 308,101.04 $349,637.83
416515104 HARTFORD FINL SVCS US HIG 239.04 $9,207.97
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 30,101.83 $30,064.20
421946104 HEALTHCARE REALTY TRUST INC US HR 1,518.55 $42,215.65
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 2,345.46 $56,994.76
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 3,862.6 $104,174.20
423012301 HEINEKEN NV-SPN ADR NL HEINY 15,235.07 $678,874.50
427866108 HERSHEY CO/THE US HSY 120.05 $16,502.51
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 38,955.3 $42,315.20
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 8,680.66 $762,248.59
437076102 HOME DEPOT INC US HD 320.5 $85,479.46
438516106 HONEYWELL INTERNATIONAL INC US HON 276.23 $45,563.89
440452100 HORMEL FOODS CORP US HRL 233.02 $11,345.92
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 42,496.69 $47,277.57
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 40,726 $41,642.33
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 26,560.43 $28,466.81
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 40,726 $40,758.58
452308109 ILLINOIS TOOL WKS INC US ITW 153.7 $30,106.05
45337C102 INCYTE CORP US INCY 5,110.23 $442,750.11
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 28,331.13 $27,835.33
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 42,496.69 $42,071.73
45778Q107 INSPERITY INC US NSP 9,512.18 $728,442.50
458140100 INTEL CORP US INTC 1,192.03 $52,783.19
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 6,852.59 $350,441.55
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 14,641.88 $1,382,193.66
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 337.14 $37,645.10
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 60.2 $6,180.51
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 51,350.17 $54,174.43
46187BAA1 IHSFR 2017-SFR2 A 0.99725 12/17/2036 US 158,185.79 $157,845.72
46187BAB9 IHSFR 2017-SFR2 B 1.29725 12/17/2036 US 131,031.47 $130,990.96
46187W107 INVITATION HOMES INC US INVH 5,149.54 $140,376.38
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 28,331.13 $28,205.62
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 177,069.56 $185,111.39
46625H100 JP MORGAN CHASE & CO US JPM 763.88 $74,890.61
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 88,055.3 $89,672.74
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 98,234.72 $102,701.29
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 198,153.71 $202,222.88
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 570,163.98 $607,194.85
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 71,482.32 $71,695.08
478160104 JOHNSON & JOHNSON US JNJ 14,922.36 $2,046,004.80
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 136,343.56 $4,431.17
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 24,789.74 $26,563.44
482480100 KLA-TENCOR CORPORATION US KLAC 89.95 $17,736.60
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 42,496.69 $45,683.95
49427F108 KILROY REALTY CORP US KRC 1,588.67 $74,794.49
494368103 KIMBERLY CLARK CORP US KMB 163.26 $21,646.40
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 446,215.29 $574,864.31
49474FXR6 KING CNTY WA 1.30000 12/01/2028 US 281,540.6 $279,254.49
501044101 KROGER CO US KR 474.55 $15,285.14
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 40,726 $37,162.47
5107401 BEIERSDORF AG DE BEI GR 796.81 $83,433.49
512816109 LAMAR ADVERTISING CO-A US LAMR 564.14 $34,954.34
53223X107 LIFE STORAGE INC US LSI 539.35 $61,567.25
532457108 ELI LILLY & CO US LLY 243.29 $31,740.08
539830109 LOCKHEED MARTIN CORP US LMT 109.07 $38,190.38
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 23,019.04 $23,335.55
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 46,038.09 $6,100.05
550021109 LULULEMON - ADR CA LULU 178.49 $56,988.83
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 12,394.87 $11,859.66
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 42,496.69 $43,665.35
56585A102 MARATHON PETROLEUM CORP US MPC 465.69 $13,737.94
573284106 MARTIN MARIETTA MATERIALS US MLM 1,405.93 $374,470.07
57636Q104 MASTERCARD INC-CLASS A US MA 6,661.36 $1,922,734.04
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 30,101.83 $28,596.73
5852842 ACCOR SA FR AC FP 2,128.38 $54,247.75
58933Y105 MERCK & CO INC US MRK 784.42 $58,996.09
594918104 MICROSOFT CORP US MSFT 6,788.85 $1,374,537.84
595112103 MICRON TECHNOLOGY INC US MU 37,096.07 $1,867,416.31
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,030.54 $120,192.44
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 26,204.17 $1,391,965.52
615369105 MOODY'S CORPORATION US MCO 2,117.75 $556,756.99
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 42,496.69 $21,142.11
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 1,361.66 $27,419.43
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 26,560.43 $14,331.74
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 41,080.14 $86,596.61
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 40,726 $41,336.89
63938EAC8 NAVSL 2014-1 A3 FLT 0.65925 06/25/2031 US 277,790.76 $268,953.93
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 26,560.43 $28,021.26
64110D104 NETAPP INC US NTAP 159.01 $6,978.88
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 56,662.26 $58,428.42
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 131,480.18 $140,441.75
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 238,899.57 $257,945.82
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 450,971.46 $484,026.45
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 136,343.56 $139,765.78
655844108 NORFOLK SOUTHN CORP US NSC 97.39 $20,365.83
6642321 NIKON CORP JP 7731 JP 81,770.72 $498,340.34
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 131,031.47 $1,310.31
66987V109 NOVARTIS AG- REG CH NVS 27,201.43 $2,123,887.33
670346105 NUCOR CORP US NUE 255.33 $12,194.77
6742340 SHANDONG WEIGAO CN 1066 HK 56,662.26 $109,890.16
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 37,184.61 $36,394.43
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 38,955.3 $28,826.92
6821506 SONY CORP FIRST SECTION JP 6758 JP 743.69 $61,999.00
68389X105 ORACLE CORP US ORCL 718.19 $40,297.87
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 42,496.69 $43,134.14
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 38,955.3 $38,592.37
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 424,966.95 $432,890.58
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 30,101.83 $29,861.01
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 28,331.13 $28,862.34
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 24,789.74 $23,364.33
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 179,256.9 $188,645.65
693475105 PNC FINANCIAL SERVICES GROUP US PNC 158.3 $17,710.62
693506107 PPG INDUSTRIES INC US PPG 110.49 $14,332.95
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 40,726 $42,721.57
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 42,496.69 $44,409.05
701094104 PARKER HANNIFIN CORP US PH 66.93 $13,946.01
7021963 DEUTSCHE BOERSE AG DE DB1 GR 940.24 $138,547.15
70450Y103 PAYPAL HOLDINGS INC US PYPL 7,585.66 $1,411,918.89
7123870 NESTLE SA-REGISTERED CH NESN SW 11,142.99 $1,253,340.21
713448108 PEPSICO INC US PEP 5,051.79 $673,353.70
717081103 PFIZER INC US PFE 1,728.55 $61,329.06
71943U104 PHYSICIANS REALTY TRUST US DOC 1,673.31 $28,211.96
723787107 PIONEER NATURAL RESOURCES CO US PXD 12,136.35 $965,567.82
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 630,367.64 $699,376.98
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 42,496.69 $42,828.17
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 26,560.43 $26,838.79
74340W103 PROLOGIS US PLD 3,380.61 $335,356.72
74460D109 PUBLIC STORAGE INC US PSA 460.38 $105,459.44
747525103 QUALCOMM INC US QCOM 324.75 $40,060.61
74834L100 QUEST DIAGNOSTICS INC US DGX 95.97 $11,721.98
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 60,203.65 $61,558.23
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 556.71 $30,240.31
756109104 REALTY INCOME CORP US O 594.95 $34,424.02
7591EP100 REGIONS FINANCIAL CORP. US RF 719.96 $9,575.53
76131D103 RESTAURANT BRANDS INTERN CA QSR 1,954.85 $101,652.09
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 1,574.86 $73,167.84
7698356 GETINGE AB-B SHS SE GETIB SS 6,346.17 $124,257.95
773903109 ROCKWELL AUTOMATION INC US ROK 65.52 $15,535.09
7792559 HEINEKEN NV NL HEIA NA 977.42 $86,518.92
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 10,664.9 $257,557.33
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 13,728.56 $1,106,521.71
78409V104 S&P GLOBAL INC US SPGI 1,480.3 $477,737.71
78410G104 SBA COMMUNICATIONS CORP US SBAC 3,091.63 $897,717.92
78442PGC4 SLM CORP 5.12500 04/05/2022 US 61,974.35 $63,678.64
78442PGD2 SLM CORP 4.20000 10/29/2025 US 54,891.56 $55,577.71
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 373,616.77 $385,588.24
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 484,042.29 $484,256.73
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 587,870.94 $690,745.68
79466L302 SALESFORCE.COM US CRM 4,263.84 $990,360.96
806857108 SCHLUMBERGER LTD NL SLB 25,940.69 $387,553.92
81141R100 SEA LTD - ADR SG SE 499.34 $78,745.31
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 260,599.12 $272,349.48
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 110,263.84 $111,500.65
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 152,024.3 $156,247.14
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 128,243.28 $129,067.37
81762P102 SERVICENOW INC US NOW 1,416.56 $704,836.01
83088M102 SKYWORKS SOLUTIONS INC US SWKS 82.51 $11,658.46
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 86.76 $9,734.93
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 61,766.11 $63,119.92
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 291,736.79 $299,650.01
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 235,502.52 $241,775.64
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 685,259.2 $681,373.78
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 456,839.47 $506,649.90
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 28,331.13 $31,415.26
85254J102 STAG INDUSTRIAL INC US STAG 1,220.72 $37,988.73
854502101 STANLEY WORKS/THE US SWK 75.43 $12,536.74
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 42,496.69 $41,221.79
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.61838 11/15/2027 US 470,832.36 $348,548.72
857949BL0 SS INT BEARING FD .022% 01/02/15 US 1,960,320.18 $1,960,320.18
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 56,662.26 $56,308.12
866674104 SUN COMMUNITIES US SUI 914.03 $125,798.37
87105L104 SWITCH INC - A US SWCH 5,463.3 $76,814.06
871829107 SYSCO CORP US SYY 276.23 $15,278.20
872540AU3 TJX COS INC 4.50000 04/15/2050 US 272,687.12 $361,200.37
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 38,955.3 $38,127.50
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 67,439.74 $67,597.71
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 19,477.65 $722.62
87901JAF2 TEGNA INC 4.75000 03/15/2026 US 26,560.43 $27,290.85
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 460,380.86 $518,468.98
88146M101 TERRENO REALTY CORP US TRNO 1,030.9 $58,018.99
882508104 TEXAS INSTRUMENTS INC US TXN 341.04 $49,310.39
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,618.42 $765,704.87
88579Y101 3M CO US MMM 242.59 $38,803.94
89151E109 TOTAL S A SPONSORED ADR FR TOT 19,727.32 $598,329.61
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 517,448.05 $528,738.15
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 273,806.8 $280,642.19
89177EAA7 TPMT 2019-HY1 A1 1.14925 10/25/2048 US 251,299.89 $252,125.89
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 37,892.89 $35,240.38
89417E109 TRAVELLERS COS INC US TRV 132.45 $15,987.80
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 744,133.43 $744,584.45
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 263,411.76 $270,901.00
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 439,132.51 $440,210.76
89832Q109 TRUIST FINANCIAL CORP US TFC 694.47 $29,250.94
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 69,057.13 $65,776.91
902494103 TYSON FOODS INC -CL A US TSN 211.42 $12,099.63
902653104 UDR INC US UDR 1,116.25 $34,871.54
902973304 U.S. BANCORP US USB 729.17 $28,401.27
904767704 UNILEVER PLC - ADR GB UL 38,959.2 $2,214,051.27
907818108 UNION PAC CORP US UNP 259.23 $45,932.93
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 26,560.43 $27,490.05
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 70,827.82 $78,796.66
9127963S6 TREASURY BILL 0.00000 07/15/2021 US 1,133,245.19 $1,132,402.34
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,899,123.52 $2,217,857.27
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 2,372,023.83 $3,116,153.66
9128282A7 UNITED STATES TREAS NTS 1.50000 08/15/2026 US 4,474,547.79 $4,731,309.92
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 2,667,375.86 $2,703,218.72
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,262,505.97 $1,363,802.35
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 1,332,771.56 $1,408,642.35
918204108 VF CORP US VFC 237.98 $15,992.36
91913Y100 VALERO ENERGY US VLO 260.29 $10,049.88
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 524,125.9 $714,696.60
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 4,187.7 $872,548.15
92826C839 VISA INC - CLASS A SHARES US V 11,112.89 $2,019,322.44
92826CAK8 VISA INC 2.70000 04/15/2040 US 545,374.25 $583,273.32
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 332,890.77 $362,116.63
929160109 VULCAN MATERIALS CO US VMC 5,064.19 $733,497.20
93065PAA9 WBHT 2019-WBM A FLT 1.19838 12/15/2033 US 401,947.9 $386,869.51
931142103 WAL MART STORES US WMT 639.93 $88,790.20
94106L109 WASTE MANAGEMENT INC US WM 217.44 $23,464.10
949746101 WELLS FARGO COMPANY US WFC 1,530.59 $32,831.14
95040Q104 WELLTOWER INC. US WELL 1,173.62 $63,105.39
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 24,789.74 $26,819.40
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 471,005.03 $513,531.19
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 105,919.37 $108,985.63
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 1,446.66 $67,284.08
B02J639 ADMIRAL GROUP PLC GB ADM LN 5,122.62 $182,488.26
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,366.09 $33,268.36
B1Y47Y7 GERRESHEIMER AG DE GXI GR 1,044.71 $105,018.54
B1Y9TB3 DANONE FR BN FP 1,911.64 $106,029.36
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 12,347.06 $159,956.67
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 442,673.9 $21,119.54
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 187,693.73 $146,531.57
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,097,831.27 $53,352.07
B4YVF56 BRENNTAG AG DE BNR GR 1,366.98 $87,371.99
B63QM77 NEXON CO LTD JP 3659 JP 55,582.14 $1,549,124.76
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 531,208.68 $27,886.86
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,352.81 $37,084.45
BD6K457 COMPASS GROUP PLC GB CPG LN 3,799.91 $52,012.43
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 17,145.29 $20,740.04
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 70,827.82 $75,671.17
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 1,152.72 $58,570.31
BJ2KSG2 AKZO NOBEL NL AKZA NA 873.31 $84,001.63
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,827.82 $71,257.75
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 23,629.58 $1,805,433.41
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,742.36 $25,699.88
BNGN9Z1 FINECOBANK SPA IT FBK IM 13,907.04 $190,941.32
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 3,709.61 $91,587.43
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 8,194.78 $61,612.10
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 2,537.41 $54,382.89
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 14,964.15 $774,035.94
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 34,663.14 $60,002.86
BZ1HM42 ADYEN NV NL ADYEN NA 23.02 $38,688.99
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,625.94 $69,482.41
G1151C101 ACCENTURE PLC - CL A IE ACN 642.41 $139,344.80
G29183103 EATON CORP PLC US ETN 226.29 $23,487.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 505.36 $21,331.10
G5494J103 LINDE PLC GB LIN 152.63 $33,631.37
G5960L103 MEDTRONIC INC IE MDT 8,722.09 $877,180.83
G85158106 STONECO LTD-A BR STNE 1,558.21 $81,868.47
G8994E103 TRANE TECHNOLOGIES IE TT 579.73 $76,958.59
G97822103 PERRIGO CO PLC IE PRGO 1,937.14 $84,982.38
H01301128 ALCON INC CH ALC 33,637.2 $1,911,938.23
H1467J104 CHUBB LTD CH CB 187.69 $24,383.29
H2906T109 GARMIN LTD CH GRMN 100.93 $10,498.70
N53745100 LYONDELLBASELL INDU-CL A US LYB 239.75 $16,411.04
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 53,120.87 $52,455.26
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 70,827.82 $66,500.08

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