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 securities 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 32% - 72%.

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

$17.52

Daily $ Change

-$0.33

Daily % Change

-1.88%

as of 03/27/2020

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 02/29/2020

YTD

-1.04%

1 Year

11.58%

3 Year

7.78%

5 Year

5.08%

10 Year

7.82%

Inception
(01/01/2000)

7.02%

US Stock Market Cycle (04/01/2000 - 02/29/2020)

7.16%

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 02/29/2020

GOVERNMENT AGENCY 8.54%
TREASURY NOTES 7.79%
TREASURY BONDS 5.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.07%
FACEBOOK INC -A 1.97%
NEXON CO LTD 1.91%
TREASURY BILLS 1.72%
MASTERCARD INC-CLASS A 1.65%
TSY INFL IX N/B 2.00000 01/15/2026 1.63%
JOHNSON & JOHNSON 1.54%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Bonds 51.21%
Stocks 47.63%
Cash 1.16%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities 18.21%
Small Capitalization 0.54%
Mid Capitalization 0.98%
Large Capitalization 27.91%
Long Term Fixed Income 16.72%
Intermediate Term Fixed Income 26.77%
Short Term Fixed Income 7.71%
Cash 1.16%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 14,936.9 $15,575.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 627,349.59 $707,044.67
00287Y109 ABBVIE INC US ABBV 637.81 $54,666.30
004239109 ACADIA REALTY TRUST US AKR 1,155.74 $26,397.15
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,936.9 $14,596.33
00507V109 ACTIVISION INC US ATVI 21,370.96 $1,242,294.05
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 649,754.93 $716,508.06
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 14,936.9 $15,721.08
008492100 AGREE REALTY CORP US ADC 311.81 $22,394.03
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 311,807.68 $330,720.70
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 115.76 $17,581.77
01609W102 ALIBABA GROUP - ADR CN BABA 4,107.65 $854,390.39
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 463,043.75 $498,766.26
020002101 ALLSTATE CORPORATION US ALL 156.46 $16,467.83
02079K107 ALPHABET INC-CL C US GOOG 524.66 $702,690.78
02079K305 ALPHABET INC-CL A US GOOGL 524.66 $702,648.81
023135106 AMAZON.COM INC US AMZN 802.86 $1,512,383.96
02319V103 AMBEV SA-ADR BR ABEV 15,867.46 $50,934.56
0237400 DIAGEO PLC GB DGE LN 21,362.37 $762,200.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,129.6 $49,069.94
0263494 BAE SYSTEMS PLC GB BA/ LN 18,428.39 $145,770.10
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,548.61 $65,983.45
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 41,076.46 $42,723.40
03027X100 AMERICAN TOWER REIT INC US AMT 3,174.09 $719,883.65
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 649,754.93 $715,783.85
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 13,575.97 $13,658.96
03064D108 AMERICOLD REALTY TRUST US COLD 1,508.63 $46,269.57
031162100 AMGEN INC US AMGN 280.44 $56,012.32
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 14,936.9 $10,157.09
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 16,804.01 $11,510.74
03748R754 APARTMENT INVT & MGMT CO -A US AIV 1,367.1 $65,402.03
038222105 APPLIED MATERIALS INC US AMAT 380.52 $22,115.67
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 286.42 $10,783.52
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 18,671.12 $18,997.86
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 16,804.01 $17,350.14
053484101 AVALONBAY COMMUNITIES INC US AVB 504.12 $101,121.47
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 324,877.47 $327,051.87
055622104 BP PLC-SPONS ADR GB BP 9,160.05 $286,617.99
05722G100 BAKER HUGHES CO US BKR 497.77 $8,009.15
060505104 BANK OF AMERICA CORP US BAC 2,047.1 $58,342.39
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 974,632.4 $1,063,267.11
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 8,021.11 $1,655,076.38
086516101 BEST BUY INC US BBY 206.5 $15,621.92
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 10,780.7 $974,252.22
0946580 WEIR GROUP PLC/THE GB WEIR LN 5,216.71 $88,113.36
097023105 BOEING CO US BA 192.69 $53,009.83
09857L108 BOOKING HOLDINGS INC US BKNG 354.75 $601,537.52
101121101 BOSTON PROPERTIES INC US BXP 563.12 $72,608.81
105368203 BRANDYWINE REALTY TRUST US BDN 4,055.37 $55,071.88
110122108 BRISTOL MYERS SQUIBB CO US BMY 689.71 $40,734.34
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,482.49 $59,002.98
11135F101 BROADCOM INC US AVGO 139.66 $38,074.10
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 16,804.01 $8,906.12
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 14,936.9 $15,104.94
12503M108 CBOE GLOBAL MARKETS INC US CBOE 6,079.32 $693,042.05
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 133.69 $9,210.91
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 148,636.01 $152,934.53
12572Q105 CME GROUP INC US CME 3,629.67 $721,650.09
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 261,449.99 $261,313.41
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 14,936.9 $14,115.37
126650100 CVS HEALTH CORP US CVS 589.26 $34,872.44
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 22,405.34 $23,637.64
133131102 CAMDEN PROPERTY TRUST US CPT 758.05 $80,337.87
13321L108 CAMECO CORP CA CCJ 9,501.36 $82,471.80
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 14,936.9 $14,806.20
149123101 CATERPILLAR INC US CAT 238.62 $29,645.76
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 189,926.31 $192,709.46
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 14,936.9 $14,964.90
166764100 CHEVRON CORP US CVX 3,218.53 $300,417.35
17275R102 CISCO SYSTEMS INC US CSCO 1,405.56 $56,124.08
172967424 CITIGROUP INC US C 595.61 $37,797.33
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 309,940.57 $536,574.98
191216100 COCA COLA CO/THE US KO 26,132.1 $1,397,805.91
194162103 COLGATE-PALMOLIVE CO US CL 452.21 $30,556.13
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 500,385.98 $540,750.87
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 907.42 $43,220.24
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 20,538.23 $21,770.52
205887102 CONAGRA BRAND INC. US CAG 337.57 $9,009.85
20825C104 CONOCOPHILLIPS US COP 5,173.77 $250,513.80
222795502 COUSINS PROPERTIES INC US CUZ 1,810.35 $64,611.45
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 14,936.9 $15,385.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 347,282.81 $349,059.82
22822V101 CROWN CASTLE INTL CORP US CCI 296.87 $42,538.62
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 186,711.19 $196,781.21
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 177,313.97 $174,357.40
231021106 CUMMINS INC US CMI 108.29 $16,383.57
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 3,665.14 $27,087.50
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 22,405.34 $18,073.27
253868103 DIGITAL REALTY TRUST INC US DLR 91.49 $10,988.68
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 616,146.92 $726,388.89
256746108 DOLLAR TREE STORES INC US DLTR 8,219.03 $682,425.77
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 28,006.68 $28,768.46
25960P109 DOUGLAS EMMETT INC US DEI 1,181.88 $45,124.25
260557103 DOW INC US DOW 324.5 $13,113.21
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 74,684.48 $77,974.33
2715777 QUEBECOR INC -CL B CA QBR/B CN 17,022.46 $397,708.56
277432100 EASTMAN CHEM CO US EMN 127.71 $7,855.47
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 22,935.6 $396,940.99
285512109 ELECTRONIC ARTS US EA 9,992.78 $1,012,968.39
2866857 LUNDIN MINING CORP CA LUN CN 5,076.68 $25,908.17
291011104 EMERSON ELEC CO US EMR 361.1 $23,150.08
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 425,701.51 $513,022.22
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 22,405.34 $23,302.00
29444U700 EQUINIX INC US EQIX 1,964.2 $1,125,094.73
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 457.44 $31,257.04
29476L107 EQUITY RESIDENTIAL US EQR 688.96 $51,741.22
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 1,584.06 $36,290.76
297178105 ESSEX PROPERTY TRUST INC US ESS 139.29 $39,468.24
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,148,273.8 $1,159,417.19
30225T102 EXTRA SPACE STORAGE INC US EXR 162.44 $16,302.35
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 784,186.99 $842,491.92
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 51,937,334.61 $123,236.91
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 653,489.16 $663,719.47
30303M102 FACEBOOK INC -A US FB 14,130.3 $2,719,659.36
30744W107 FARFETCH LTD - CLASS A GB FTCH 3,065.8 $34,244.96
311900104 FASTENAL CO US FAST 413.38 $14,145.81
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 87,648.23 $101,085.34
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 51,243.05 $58,945.55
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 35,081.73 $40,088.36
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,954.55 $2,027.44
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 3,828.03 $3,917.63
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 2,613.77 $2,683.91
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 2,420.07 $2,509.28
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 4,015.47 $4,157.06
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 412,334.03 $446,876.30
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 75,640.56 $86,999.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 287,637.79 $313,487.28
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 370,319.85 $386,118.83
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 172,184.16 $185,468.69
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 203,211.43 $218,363.97
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 325,069.51 $347,579.61
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 85.64 $85.72
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 401,815.47 $416,586.06
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 487,736.09 $519,026.26
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 273,433.86 $291,725.95
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 115.76 $13,467.63
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 4,630,346.5 $16,368.28
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 1,256,558.9 $12,660.21
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 1,434,611.95 $29,241.55
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 9,581,692.47 $171,273.71
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 4,502,103.67 $123,356.74
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 16,870,326.66 $88,543.91
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 10,847,663.82 $39,239.25
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 277,324.68 $284,507.89
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 213,933.76 $219,371.10
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 69,248.81 $76,395.07
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 32,639.4 $35,995.18
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 469,963.68 $517,081.66
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 960,230.5 $1,097,183.55
3138WGK37 FEDERAL NATL MTG ASSN FN AS6613 4.00000 02/01/2046 US 1,019,143.44 $1,096,119.83
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 179,513.09 $206,484.64
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 95,522.29 $109,716.52
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 495,137.9 $523,749.32
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 463,639.75 $495,359.87
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 186,094.04 $198,800.91
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 366,183.33 $382,037.04
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 288,166.03 $313,044.19
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 322,111.43 $349,063.12
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 768,167 $804,762.54
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 2,504.11 $2,556.30
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 2,943.17 $3,003.91
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 16,161.37 $16,358.72
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 18,987.23 $19,194.24
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 173,338.46 $198,445.59
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 34,310.91 $39,438.90
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 308.39 $310.70
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 10,746.33 $10,875.11
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 270,713.93 $294,914.86
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 689,947.57 $727,454.35
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 175,834.68 $184,363.89
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 192,247.01 $201,506.29
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 279,617.11 $295,102.05
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 930,036.62 $965,546.68
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 13,359.71 $15,702.90
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 3,872.3 $4,081.05
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 22,405.34 $24,869.93
316067107 FIDELITY CASH RESERVES US 34,564.91 $34,564.91
316773100 FIFTH THIRD BANCORP US FITB 477.61 $11,653.62
32054K103 FIRST INDUSTRIAL REALTY TR US FR 573.2 $22,068.33
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 24,272.45 $24,378.77
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 362,219.7 $383,953.54
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 20,538.23 $20,178.81
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 9,335.56 $9,779.00
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 22,405.34 $23,294.83
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 399,561.94 $412,606.56
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 54.5 $54.71
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 195,673.32 $196,512.08
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 6,231.59 $6,263.50
364760108 GAP INC US GPS 356.62 $5,110.34
369550108 GENERAL DYNAMICS CORP US GD 113.52 $18,128.07
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 522,791.33 $511,797.02
370334104 GENERAL MLS INC US GIS 419.35 $20,548.31
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 20,538.23 $17,662.88
372460105 GENUINE PARTS CO US GPC 131.44 $11,467.23
374297109 GETTY REALTY CORP US GTY 664.69 $18,837.37
375558103 GILEAD SCIENCES INC US GILD 623.99 $43,279.86
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 74,684.48 $76,962.35
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 31,740.9 $31,264.79
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 522,044.53 $537,587.20
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 42,760.6 $578,123.26
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 18,671.12 $18,950.63
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 14,936.9 $14,942.42
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 545.2 $59,088.41
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 330.48 $55,189.96
404119BX6 HCA INC 4.12500 06/15/2029 US 485,449.09 $532,680.89
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 7,468.45 $7,543.13
406216101 HALLIBURTON CO US HAL 35,387.37 $600,169.82
416515104 HARTFORD FINL SVCS US HIG 204.26 $10,202.89
421946104 HEALTHCARE REALTY TRUST INC US HR 1,327.52 $45,533.82
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 827.13 $25,756.85
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 2,177.05 $68,881.94
427866108 HERSHEY CO/THE US HSY 144.14 $20,754.87
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 192.31 $18,692.78
437076102 HOME DEPOT INC US HD 393.59 $85,739.03
438516106 HONEYWELL INTERNATIONAL INC US HON 286.04 $46,387.36
44107P104 HOST MARRIOTT CORP US HST 1,585.18 $22,953.38
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 24,272.45 $24,871.98
452308109 ILLINOIS TOOL WKS INC US ITW 158.7 $26,627.44
45337C102 INCYTE CORP US INCY 4,787.27 $361,008.40
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 24,272.45 $24,848.93
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 362.22 $33,302.48
458140100 INTEL CORP US INTC 1,569.87 $87,159.05
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 7,729.84 $689,656.61
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 376.78 $49,038.33
460146103 INTERNATIONAL PAPER CO US IP 235.26 $8,695.07
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 170,860.68 $169,916.71
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 138,166.28 $137,862.96
46187W107 INVITATION HOMES INC US INVH 3,637.51 $104,360.09
46625H100 JP MORGAN CHASE & CO US JPM 800.62 $92,959.71
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 123,941.62 $126,941.37
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 149,504.06 $154,227.04
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 249,695.82 $254,102.85
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 485,449.09 $526,301.44
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 257,289.07 $263,242.48
4741844 MERCK KGAA DE MRK GR 13,196.75 $1,605,833.42
476405105 JERNIGAN CAPITAL INC US JCAP 2,923.9 $52,396.24
478160104 JOHNSON & JOHNSON US JNJ 15,815.56 $2,126,876.22
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 33,608.01 $8,065.92
482480100 KLA-TENCOR CORPORATION US KLAC 116.13 $17,851.01
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 20,538.23 $21,565.14
487836108 KELLOGG CO US K 226.67 $13,706.58
493267108 KEYCORP US KEY 657.6 $10,751.71
49427F108 KILROY REALTY CORP US KRC 196.42 $14,277.78
494368103 KIMBERLY CLARK CORP US KMB 202.39 $26,552.19
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 519,057.1 $695,683.98
500255104 KOHLS CORP US KSS 149.74 $5,862.41
501044101 KROGER CO US KR 410.39 $11,544.30
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 31,740.9 $33,129.57
5107401 BEIERSDORF AG DE BEI GR 780.45 $82,414.19
512807108 LAM RESEARCH CORP US LRCX 66.47 $19,504.05
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 20,538.23 $14,733.62
53223X107 LIFE STORAGE INC US LSI 145.63 $15,715.44
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 18,671.12 $22,495.71
539830109 LOCKHEED MARTIN CORP US LMT 120.62 $44,612.03
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 14,936.9 $9,746.32
550021109 LULULEMON - ADR CA LULU 3,681.57 $800,410.39
56585A102 MARATHON PETROLEUM CORP US MPC 422.34 $20,027.40
57636Q104 MASTERCARD INC-CLASS A US MA 7,871.74 $2,284,773.60
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 192.31 $10,696.42
58933Y105 MERCK & CO INC US MRK 6,058.03 $463,802.87
594918104 MICROSOFT CORP US MSFT 9,236.6 $1,496,421.96
595112103 MICRON TECHNOLOGY INC US MU 39,115.99 $2,055,936.63
59522J103 MID-AMERICA APARTMENT COMM US MAA 237.12 $30,650.55
60871R209 MOLSON COORS BREWING CO -B US TAP 159.82 $7,928.91
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 27,652.3 $1,460,041.46
615369105 MOODY'S CORPORATION US MCO 2,233.07 $536,002.78
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6356934 FANUC LTD JP 6954 JP 224.05 $36,792.69
637417106 NATIONAL RETAIL PROPERTIES US NNN 520.92 $26,489.00
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 22,405.34 $22,622.67
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 14,936.9 $15,758.42
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 319,506.45 $314,436.07
64110D104 NETAPP INC US NTAP 140.03 $6,542.36
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 159,448.13 $168,784.60
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 306,097.65 $323,323.20
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 549,870.34 $578,706.09
6490995 KEYENCE CORP JP 6861 JP 261.4 $83,465.09
6642321 NIKON CORP JP 7731 JP 2,912.69 $29,752.51
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 33,608.01 $25,542.09
66987V109 NOVARTIS AG- REG CH NVS 25,176.14 $2,113,788.42
670346105 NUCOR CORP US NUE 252.06 $10,422.69
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 16,804.01 $17,141.77
67066G104 NVIDIA CORP US NVDA 2,836.14 $765,957.12
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 20,538.23 $20,565.39
6742340 SHANDONG WEIGAO CN 1066 HK 77,671.85 $101,352.26
674599105 OCCIDENTAL PETROLEUM CORP US OXY 339.07 $11,101.07
675232102 OCEANEERING INTL INC US OII 38,938.62 $410,413.04
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 22,405.34 $20,892.98
681936100 OMEGA HEALTHCARE INVS INC US OHI 752.45 $29,796.87
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69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 298,737.9 $303,800.55
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 293,265.51 $303,490.51
7021963 DEUTSCHE BOERSE AG DE DB1 GR 858.87 $135,146.36
70450Y103 PAYPAL HOLDINGS INC US PYPL 6,620.78 $714,977.89
7123870 NESTLE SA-REGISTERED CH NESN SW 15,764.03 $1,622,209.99
713448108 PEPSICO INC US PEP 10,829.25 $1,429,785.73
717081103 PFIZER INC US PFE 2,011.63 $67,228.55
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719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 22,405.34 $21,229.06
71943U104 PHYSICIANS REALTY TRUST US DOC 2,701.71 $50,954.27
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 1,004.13 $18,847.57
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 970,898.18 $1,063,196.16
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 14,936.9 $15,459.69
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 14,936.9 $15,380.52
74340W103 PROLOGIS US PLD 1,897.73 $159,940.90
74460D109 PUBLIC STORAGE INC US PSA 336.08 $70,281.08
74834L100 QUEST DIAGNOSTICS INC US DGX 103.06 $10,931.03
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 24,272.45 $25,728.80
756109104 REALTY INCOME CORP US O 339.81 $24,599.16
758849103 REGENCY CENTERS CORP US REG 476.11 $27,347.96
7591EP100 REGIONS FINANCIAL CORP. US RF 590.38 $7,981.95
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,178.92 $127,466.79
7698356 GETINGE AB-B SHS SE GETIB SS 4,032.96 $67,633.56
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 24,272.45 $24,346.97
773903109 ROCKWELL AUTOMATION INC US ROK 60.12 $11,032.20
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 6,357.52 $283,100.18
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9,485.3 $679,906.43
78409V104 S&P GLOBAL INC US SPGI 1,781.22 $473,645.47
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,953.77 $783,015.15
78442PGC4 SLM CORP 5.12500 04/05/2022 US 31,740.9 $32,375.72
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 393,960.61 $395,930.41
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 724,439.41 $840,907.02
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 646,020.71 $718,084.54
806857108 SCHLUMBERGER LTD NL SLB 26,216.12 $710,194.63
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81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 163,912.56 $166,738.31
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 222,472.85 $227,768.37
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 184,791.77 $180,963.48
81762P102 SERVICENOW INC US NOW 1,071.72 $349,477.90
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 24,272.45 $20,146.14
828806109 SIMON PROPERTY GROUP INC US SPG 584.41 $71,928.69
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 98.96 $10,191.57
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 14,359.67 $14,364.36
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 84,020.03 $85,887.55
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 248,325.88 $257,431.59
835699307 SONY CORP SPONSORED ADR JP SNE 21,434.44 $1,333,222.44
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 642,286.49 $643,249.92
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 35,475.13 $36,184.63
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 14,936.9 $15,853.27
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 20,538.23 $23,302.27
85254J102 STAG INDUSTRIAL INC US STAG 1,376.06 $38,502.20
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 22,405.34 $22,209.30
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 496,469.69 $493,930.04
862121100 STORE CAPITAL CORP US STOR 1,267.77 $41,658.89
866674104 SUN COMMUNITIES US SUI 494.78 $75,642.68
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 14,936.9 $13,443.21
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,297.64 $14,209.19
871829107 SYSCO CORP US SYY 314.42 $20,956.20
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 114,928.31 $115,288.28
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 20,538.23 $14,376.76
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 485,449.09 $550,513.78
882508104 TEXAS INSTRUMENTS INC US TXN 390.6 $44,583.06
88579Y101 3M CO US MMM 275.21 $41,072.68
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,792.55 $293,030.74
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 670,453.9 $679,139.97
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 371,245.83 $378,951.93
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 327,114.51 $328,883.09
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 14,936.9 $15,086.26
89417E109 TRAVELLERS COS INC US TRV 115.01 $13,779.84
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 809,344.27 $816,187.44
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 279,274.5 $287,994.74
89832Q109 TRUIST FINANCIAL CORP US TFC 648.26 $29,910.77
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 37,342.24 $35,475.13
902494103 TYSON FOODS INC -CL A US TSN 171.77 $11,651.45
902653104 UDR INC US UDR 838.71 $37,725.03
902973304 U.S. BANCORP US USB 725.19 $33,677.65
903002103 UMH PROPERTIES INC US UMH 1,060.52 $15,388.14
904767704 UNILEVER PLC - ADR GB UL 24,056.24 $1,297,353.18
907818108 UNION PAC CORP US UNP 287.16 $45,891.33
911312106 UNITED PARCEL SERVICE US UPS 427.2 $38,656.89
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 2,389,903.2 $2,379,396.25
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,979,855.32 $2,256,283.92
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 688,397.52 $791,143.24
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,791,332.25 $3,256,372.56
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 2,939,954.36 $3,791,048.19
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,438,200.5 $1,488,198.45
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 2,858,128.84 $2,864,347.06
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,458,214.38 $1,538,131.36
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 1,383,529.9 $1,388,723.75
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 7,569,271.54 $7,833,309.01
913017109 UNITED TECHNOLOGIES CORP US UTX 341.68 $44,620.18
91704F104 URBAN EDGE PROPERTIES US UE 1,529.16 $24,772.47
918204108 VF CORP US VFC 236.75 $17,045.98
91913Y100 VALERO ENERGY US VLO 246.83 $16,352.63
92276F100 VENTAS INC US VTR 715.85 $38,491.29
92339V100 VEREIT INC US VER 2,950.04 $25,547.32
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 806,592.33 $1,077,501.49
92556H206 VIACOMCBS INC US VIAC 201.27 $4,953.37
92826C839 VISA INC - CLASS A SHARES US V 11,352.04 $2,063,346.83
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 26,139.57 $24,440.49
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 141,900.5 $141,995.05
929042109 VORNADO REALTY TRUST US VNO 177.38 $9,503.79
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 423,834.4 $423,849.53
931142103 WAL MART STORES US WMT 882.02 $94,976.31
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 451.84 $20,676.25
94106L109 WASTE MANAGEMENT INC US WM 241.98 $26,813.55
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 20,538.23 $21,359.76
949746101 WELLS FARGO COMPANY US WFC 1,579.58 $64,525.71
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 182,454.84 $183,308.56
95040Q104 WELLTOWER INC. US WELL 849.91 $63,590.22
958102105 WESTERN DIGITAL CORP US WDC 205.76 $11,431.79
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 22,405.34 $12,883.07
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 496,651.76 $521,217.66
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 110,277.59 $110,417.71
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 188,869.8 $194,609.74
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 543.33 $27,682.64
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 35,475.13 $34,056.12
B02J639 ADMIRAL GROUP PLC GB ADM LN 4,727.53 $129,752.40
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 8,439.35 $55,246.14
B1Y47Y7 GERRESHEIMER AG DE GXI GR 1,140.81 $82,238.13
B1Y9TB3 DANONE FR BN FP 1,927.98 $136,073.66
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 466,777.97 $23,649.09
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 197,913.86 $152,654.29
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,157,609.36 $58,623.86
B4YVF56 BRENNTAG AG DE BNR GR 1,721.48 $78,108.48
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,792,427.4 $91,315.17
B63QM77 NEXON CO LTD JP 3659 JP 166,621.06 $2,634,936.45
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 560,133.56 $30,451.20
B7KR2P8 EASY JET PLC GB EZJ LN 49,728.66 $717,851.86
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -42.94 -$24,263.12
BBG00RBW6Q94 MU US 02/28/20 C60 US -81.41 -$81.41
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -2.99 -$59.75
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -78.79 -$27,577.24
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -45.56 -$24,236.61
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -88.87 -$10,576.07
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,710.27 $34,367.75
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 1,241.63 $15,456.42
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 15,932.07 $21,515.29
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 1,202.42 $53,244.38
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 2,352.56 $30,352.73
BJ2KSG2 AKZO NOBEL NL AKZA NA 971.27 $77,711.70
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 33,501.22 $1,698,669.31
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 19,501.98 $84,478.74
BNGN9Z1 FINECOBANK SPA IT FBK IM 10,496.9 $110,143.97
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 25,241.49 $787,506.37
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 3,808.91 $25,647.47
BYXS699 QIAGEN N.V. NL QIA GR 2,265.18 $83,021.26
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 17,737.56 $1,024,892.57
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 16,520.21 $31,225.98
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,472.06 $68,426.51
G29183103 EATON CORP PLC US ETN 264.76 $24,018.71
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 504.87 $18,462.99
G5960L103 MEDTRONIC INC IE MDT 14,379.75 $1,447,609.31
G97822103 PERRIGO CO PLC IE PRGO 1,628.12 $82,529.48
H01301128 ALCON INC CH ALC 15,031.37 $921,423.03
H1467J104 CHUBB LTD CH CB 165.43 $23,991.75
N22717107 CORE LABORATORIES N.V. NL CLB 1,366.73 $36,682.92
N47279109 INTERXION HOLDING NV NL INXN 1,112.8 $94,465.48
N53745100 LYONDELLBASELL INDU-CL A US LYB 243.1 $17,371.78
USD US DOLLAR US 1,591,375.6 $1,591,375.60

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

$17.52

Daily $ Change

-$0.33

Daily % Change

-1.88%

as of 03/27/2020

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 securities 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 32% - 72%.

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 02/29/2020

YTD

-1.04%

1 Year

11.58%

3 Year

7.78%

5 Year

5.08%

10 Year

7.82%

Inception
(01/01/2000)

7.02%

US Stock Market Cycle (04/01/2000 - 02/29/2020)

7.16%

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 02/29/2020

GOVERNMENT AGENCY 8.54%
TREASURY NOTES 7.79%
TREASURY BONDS 5.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.07%
FACEBOOK INC -A 1.97%
NEXON CO LTD 1.91%
TREASURY BILLS 1.72%
MASTERCARD INC-CLASS A 1.65%
TSY INFL IX N/B 2.00000 01/15/2026 1.63%
JOHNSON & JOHNSON 1.54%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Bonds
51.21%
Stocks
47.63%
Cash
1.16%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities
18.21%
Small Capitalization
0.54%
Mid Capitalization
0.98%
Large Capitalization
27.91%
Long Term Fixed Income
16.72%
Intermediate Term Fixed Income
26.77%
Short Term Fixed Income
7.71%
Cash
1.16%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 14,936.9 $15,575.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 627,349.59 $707,044.67
00287Y109 ABBVIE INC US ABBV 637.81 $54,666.30
004239109 ACADIA REALTY TRUST US AKR 1,155.74 $26,397.15
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,936.9 $14,596.33
00507V109 ACTIVISION INC US ATVI 21,370.96 $1,242,294.05
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 649,754.93 $716,508.06
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 14,936.9 $15,721.08
008492100 AGREE REALTY CORP US ADC 311.81 $22,394.03
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 311,807.68 $330,720.70
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 115.76 $17,581.77
01609W102 ALIBABA GROUP - ADR CN BABA 4,107.65 $854,390.39
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 463,043.75 $498,766.26
020002101 ALLSTATE CORPORATION US ALL 156.46 $16,467.83
02079K107 ALPHABET INC-CL C US GOOG 524.66 $702,690.78
02079K305 ALPHABET INC-CL A US GOOGL 524.66 $702,648.81
023135106 AMAZON.COM INC US AMZN 802.86 $1,512,383.96
02319V103 AMBEV SA-ADR BR ABEV 15,867.46 $50,934.56
0237400 DIAGEO PLC GB DGE LN 21,362.37 $762,200.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,129.6 $49,069.94
0263494 BAE SYSTEMS PLC GB BA/ LN 18,428.39 $145,770.10
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,548.61 $65,983.45
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 41,076.46 $42,723.40
03027X100 AMERICAN TOWER REIT INC US AMT 3,174.09 $719,883.65
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 649,754.93 $715,783.85
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 13,575.97 $13,658.96
03064D108 AMERICOLD REALTY TRUST US COLD 1,508.63 $46,269.57
031162100 AMGEN INC US AMGN 280.44 $56,012.32
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 14,936.9 $10,157.09
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 16,804.01 $11,510.74
03748R754 APARTMENT INVT & MGMT CO -A US AIV 1,367.1 $65,402.03
038222105 APPLIED MATERIALS INC US AMAT 380.52 $22,115.67
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 286.42 $10,783.52
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 18,671.12 $18,997.86
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 16,804.01 $17,350.14
053484101 AVALONBAY COMMUNITIES INC US AVB 504.12 $101,121.47
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 324,877.47 $327,051.87
055622104 BP PLC-SPONS ADR GB BP 9,160.05 $286,617.99
05722G100 BAKER HUGHES CO US BKR 497.77 $8,009.15
060505104 BANK OF AMERICA CORP US BAC 2,047.1 $58,342.39
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 974,632.4 $1,063,267.11
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 8,021.11 $1,655,076.38
086516101 BEST BUY INC US BBY 206.5 $15,621.92
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 10,780.7 $974,252.22
0946580 WEIR GROUP PLC/THE GB WEIR LN 5,216.71 $88,113.36
097023105 BOEING CO US BA 192.69 $53,009.83
09857L108 BOOKING HOLDINGS INC US BKNG 354.75 $601,537.52
101121101 BOSTON PROPERTIES INC US BXP 563.12 $72,608.81
105368203 BRANDYWINE REALTY TRUST US BDN 4,055.37 $55,071.88
110122108 BRISTOL MYERS SQUIBB CO US BMY 689.71 $40,734.34
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,482.49 $59,002.98
11135F101 BROADCOM INC US AVGO 139.66 $38,074.10
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 16,804.01 $8,906.12
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 14,936.9 $15,104.94
12503M108 CBOE GLOBAL MARKETS INC US CBOE 6,079.32 $693,042.05
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 133.69 $9,210.91
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 148,636.01 $152,934.53
12572Q105 CME GROUP INC US CME 3,629.67 $721,650.09
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 261,449.99 $261,313.41
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 14,936.9 $14,115.37
126650100 CVS HEALTH CORP US CVS 589.26 $34,872.44
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 22,405.34 $23,637.64
133131102 CAMDEN PROPERTY TRUST US CPT 758.05 $80,337.87
13321L108 CAMECO CORP CA CCJ 9,501.36 $82,471.80
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 14,936.9 $14,806.20
149123101 CATERPILLAR INC US CAT 238.62 $29,645.76
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 189,926.31 $192,709.46
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 14,936.9 $14,964.90
166764100 CHEVRON CORP US CVX 3,218.53 $300,417.35
17275R102 CISCO SYSTEMS INC US CSCO 1,405.56 $56,124.08
172967424 CITIGROUP INC US C 595.61 $37,797.33
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 309,940.57 $536,574.98
191216100 COCA COLA CO/THE US KO 26,132.1 $1,397,805.91
194162103 COLGATE-PALMOLIVE CO US CL 452.21 $30,556.13
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 500,385.98 $540,750.87
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 907.42 $43,220.24
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 20,538.23 $21,770.52
205887102 CONAGRA BRAND INC. US CAG 337.57 $9,009.85
20825C104 CONOCOPHILLIPS US COP 5,173.77 $250,513.80
222795502 COUSINS PROPERTIES INC US CUZ 1,810.35 $64,611.45
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 14,936.9 $15,385.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 347,282.81 $349,059.82
22822V101 CROWN CASTLE INTL CORP US CCI 296.87 $42,538.62
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 186,711.19 $196,781.21
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 177,313.97 $174,357.40
231021106 CUMMINS INC US CMI 108.29 $16,383.57
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 3,665.14 $27,087.50
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 22,405.34 $18,073.27
253868103 DIGITAL REALTY TRUST INC US DLR 91.49 $10,988.68
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 616,146.92 $726,388.89
256746108 DOLLAR TREE STORES INC US DLTR 8,219.03 $682,425.77
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 28,006.68 $28,768.46
25960P109 DOUGLAS EMMETT INC US DEI 1,181.88 $45,124.25
260557103 DOW INC US DOW 324.5 $13,113.21
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 74,684.48 $77,974.33
2715777 QUEBECOR INC -CL B CA QBR/B CN 17,022.46 $397,708.56
277432100 EASTMAN CHEM CO US EMN 127.71 $7,855.47
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 22,935.6 $396,940.99
285512109 ELECTRONIC ARTS US EA 9,992.78 $1,012,968.39
2866857 LUNDIN MINING CORP CA LUN CN 5,076.68 $25,908.17
291011104 EMERSON ELEC CO US EMR 361.1 $23,150.08
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 425,701.51 $513,022.22
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 22,405.34 $23,302.00
29444U700 EQUINIX INC US EQIX 1,964.2 $1,125,094.73
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 457.44 $31,257.04
29476L107 EQUITY RESIDENTIAL US EQR 688.96 $51,741.22
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 1,584.06 $36,290.76
297178105 ESSEX PROPERTY TRUST INC US ESS 139.29 $39,468.24
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,148,273.8 $1,159,417.19
30225T102 EXTRA SPACE STORAGE INC US EXR 162.44 $16,302.35
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 784,186.99 $842,491.92
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 51,937,334.61 $123,236.91
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 653,489.16 $663,719.47
30303M102 FACEBOOK INC -A US FB 14,130.3 $2,719,659.36
30744W107 FARFETCH LTD - CLASS A GB FTCH 3,065.8 $34,244.96
311900104 FASTENAL CO US FAST 413.38 $14,145.81
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 87,648.23 $101,085.34
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 51,243.05 $58,945.55
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 35,081.73 $40,088.36
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,954.55 $2,027.44
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 3,828.03 $3,917.63
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 2,613.77 $2,683.91
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 2,420.07 $2,509.28
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 4,015.47 $4,157.06
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 412,334.03 $446,876.30
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 75,640.56 $86,999.40
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 287,637.79 $313,487.28
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 370,319.85 $386,118.83
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 172,184.16 $185,468.69
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 203,211.43 $218,363.97
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 325,069.51 $347,579.61
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 85.64 $85.72
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 401,815.47 $416,586.06
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 487,736.09 $519,026.26
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 273,433.86 $291,725.95
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 115.76 $13,467.63
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 4,630,346.5 $16,368.28
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 1,256,558.9 $12,660.21
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 1,434,611.95 $29,241.55
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 9,581,692.47 $171,273.71
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 4,502,103.67 $123,356.74
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 16,870,326.66 $88,543.91
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 10,847,663.82 $39,239.25
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 277,324.68 $284,507.89
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 213,933.76 $219,371.10
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 69,248.81 $76,395.07
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 32,639.4 $35,995.18
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 469,963.68 $517,081.66
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 960,230.5 $1,097,183.55
3138WGK37 FEDERAL NATL MTG ASSN FN AS6613 4.00000 02/01/2046 US 1,019,143.44 $1,096,119.83
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 179,513.09 $206,484.64
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 95,522.29 $109,716.52
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 495,137.9 $523,749.32
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 463,639.75 $495,359.87
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 186,094.04 $198,800.91
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 366,183.33 $382,037.04
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 288,166.03 $313,044.19
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 322,111.43 $349,063.12
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 768,167 $804,762.54
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 2,504.11 $2,556.30
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 2,943.17 $3,003.91
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 16,161.37 $16,358.72
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 18,987.23 $19,194.24
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 173,338.46 $198,445.59
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 34,310.91 $39,438.90
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 308.39 $310.70
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 10,746.33 $10,875.11
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 270,713.93 $294,914.86
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 689,947.57 $727,454.35
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 175,834.68 $184,363.89
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 192,247.01 $201,506.29
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 279,617.11 $295,102.05
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 930,036.62 $965,546.68
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 13,359.71 $15,702.90
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 3,872.3 $4,081.05
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 22,405.34 $24,869.93
316067107 FIDELITY CASH RESERVES US 34,564.91 $34,564.91
316773100 FIFTH THIRD BANCORP US FITB 477.61 $11,653.62
32054K103 FIRST INDUSTRIAL REALTY TR US FR 573.2 $22,068.33
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 24,272.45 $24,378.77
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 362,219.7 $383,953.54
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 20,538.23 $20,178.81
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 9,335.56 $9,779.00
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 22,405.34 $23,294.83
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 399,561.94 $412,606.56
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 54.5 $54.71
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 195,673.32 $196,512.08
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 6,231.59 $6,263.50
364760108 GAP INC US GPS 356.62 $5,110.34
369550108 GENERAL DYNAMICS CORP US GD 113.52 $18,128.07
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 522,791.33 $511,797.02
370334104 GENERAL MLS INC US GIS 419.35 $20,548.31
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 20,538.23 $17,662.88
372460105 GENUINE PARTS CO US GPC 131.44 $11,467.23
374297109 GETTY REALTY CORP US GTY 664.69 $18,837.37
375558103 GILEAD SCIENCES INC US GILD 623.99 $43,279.86
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 74,684.48 $76,962.35
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 31,740.9 $31,264.79
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 522,044.53 $537,587.20
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 42,760.6 $578,123.26
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 18,671.12 $18,950.63
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 14,936.9 $14,942.42
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 545.2 $59,088.41
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 330.48 $55,189.96
404119BX6 HCA INC 4.12500 06/15/2029 US 485,449.09 $532,680.89
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 7,468.45 $7,543.13
406216101 HALLIBURTON CO US HAL 35,387.37 $600,169.82
416515104 HARTFORD FINL SVCS US HIG 204.26 $10,202.89
421946104 HEALTHCARE REALTY TRUST INC US HR 1,327.52 $45,533.82
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 827.13 $25,756.85
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 2,177.05 $68,881.94
427866108 HERSHEY CO/THE US HSY 144.14 $20,754.87
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 192.31 $18,692.78
437076102 HOME DEPOT INC US HD 393.59 $85,739.03
438516106 HONEYWELL INTERNATIONAL INC US HON 286.04 $46,387.36
44107P104 HOST MARRIOTT CORP US HST 1,585.18 $22,953.38
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 24,272.45 $24,871.98
452308109 ILLINOIS TOOL WKS INC US ITW 158.7 $26,627.44
45337C102 INCYTE CORP US INCY 4,787.27 $361,008.40
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 24,272.45 $24,848.93
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 362.22 $33,302.48
458140100 INTEL CORP US INTC 1,569.87 $87,159.05
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 7,729.84 $689,656.61
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 376.78 $49,038.33
460146103 INTERNATIONAL PAPER CO US IP 235.26 $8,695.07
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 170,860.68 $169,916.71
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 138,166.28 $137,862.96
46187W107 INVITATION HOMES INC US INVH 3,637.51 $104,360.09
46625H100 JP MORGAN CHASE & CO US JPM 800.62 $92,959.71
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 123,941.62 $126,941.37
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 149,504.06 $154,227.04
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 249,695.82 $254,102.85
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 485,449.09 $526,301.44
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 257,289.07 $263,242.48
4741844 MERCK KGAA DE MRK GR 13,196.75 $1,605,833.42
476405105 JERNIGAN CAPITAL INC US JCAP 2,923.9 $52,396.24
478160104 JOHNSON & JOHNSON US JNJ 15,815.56 $2,126,876.22
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 33,608.01 $8,065.92
482480100 KLA-TENCOR CORPORATION US KLAC 116.13 $17,851.01
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 20,538.23 $21,565.14
487836108 KELLOGG CO US K 226.67 $13,706.58
493267108 KEYCORP US KEY 657.6 $10,751.71
49427F108 KILROY REALTY CORP US KRC 196.42 $14,277.78
494368103 KIMBERLY CLARK CORP US KMB 202.39 $26,552.19
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 519,057.1 $695,683.98
500255104 KOHLS CORP US KSS 149.74 $5,862.41
501044101 KROGER CO US KR 410.39 $11,544.30
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 31,740.9 $33,129.57
5107401 BEIERSDORF AG DE BEI GR 780.45 $82,414.19
512807108 LAM RESEARCH CORP US LRCX 66.47 $19,504.05
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 20,538.23 $14,733.62
53223X107 LIFE STORAGE INC US LSI 145.63 $15,715.44
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 18,671.12 $22,495.71
539830109 LOCKHEED MARTIN CORP US LMT 120.62 $44,612.03
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 14,936.9 $9,746.32
550021109 LULULEMON - ADR CA LULU 3,681.57 $800,410.39
56585A102 MARATHON PETROLEUM CORP US MPC 422.34 $20,027.40
57636Q104 MASTERCARD INC-CLASS A US MA 7,871.74 $2,284,773.60
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 192.31 $10,696.42
58933Y105 MERCK & CO INC US MRK 6,058.03 $463,802.87
594918104 MICROSOFT CORP US MSFT 9,236.6 $1,496,421.96
595112103 MICRON TECHNOLOGY INC US MU 39,115.99 $2,055,936.63
59522J103 MID-AMERICA APARTMENT COMM US MAA 237.12 $30,650.55
60871R209 MOLSON COORS BREWING CO -B US TAP 159.82 $7,928.91
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 27,652.3 $1,460,041.46
615369105 MOODY'S CORPORATION US MCO 2,233.07 $536,002.78
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 14,936.9 $8,733.60
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 33,608.01 $32,757.73
6356934 FANUC LTD JP 6954 JP 224.05 $36,792.69
637417106 NATIONAL RETAIL PROPERTIES US NNN 520.92 $26,489.00
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 22,405.34 $22,622.67
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 14,936.9 $15,758.42
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 319,506.45 $314,436.07
64110D104 NETAPP INC US NTAP 140.03 $6,542.36
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 159,448.13 $168,784.60
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 306,097.65 $323,323.20
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 549,870.34 $578,706.09
6490995 KEYENCE CORP JP 6861 JP 261.4 $83,465.09
6642321 NIKON CORP JP 7731 JP 2,912.69 $29,752.51
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 33,608.01 $25,542.09
66987V109 NOVARTIS AG- REG CH NVS 25,176.14 $2,113,788.42
670346105 NUCOR CORP US NUE 252.06 $10,422.69
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 16,804.01 $17,141.77
67066G104 NVIDIA CORP US NVDA 2,836.14 $765,957.12
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 20,538.23 $20,565.39
6742340 SHANDONG WEIGAO CN 1066 HK 77,671.85 $101,352.26
674599105 OCCIDENTAL PETROLEUM CORP US OXY 339.07 $11,101.07
675232102 OCEANEERING INTL INC US OII 38,938.62 $410,413.04
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 22,405.34 $20,892.98
681936100 OMEGA HEALTHCARE INVS INC US OHI 752.45 $29,796.87
6821506 SONY CORP FIRST SECTION JP 6758 JP 1,867.11 $115,103.49
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 298,737.9 $303,800.55
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 293,265.51 $303,490.51
7021963 DEUTSCHE BOERSE AG DE DB1 GR 858.87 $135,146.36
70450Y103 PAYPAL HOLDINGS INC US PYPL 6,620.78 $714,977.89
7123870 NESTLE SA-REGISTERED CH NESN SW 15,764.03 $1,622,209.99
713448108 PEPSICO INC US PEP 10,829.25 $1,429,785.73
717081103 PFIZER INC US PFE 2,011.63 $67,228.55
718546104 PHILLIPS 66 US PSX 195.67 $14,648.11
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 22,405.34 $21,229.06
71943U104 PHYSICIANS REALTY TRUST US DOC 2,701.71 $50,954.27
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 1,004.13 $18,847.57
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 970,898.18 $1,063,196.16
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 14,936.9 $15,459.69
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 14,936.9 $15,380.52
74340W103 PROLOGIS US PLD 1,897.73 $159,940.90
74460D109 PUBLIC STORAGE INC US PSA 336.08 $70,281.08
74834L100 QUEST DIAGNOSTICS INC US DGX 103.06 $10,931.03
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 24,272.45 $25,728.80
756109104 REALTY INCOME CORP US O 339.81 $24,599.16
758849103 REGENCY CENTERS CORP US REG 476.11 $27,347.96
7591EP100 REGIONS FINANCIAL CORP. US RF 590.38 $7,981.95
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,178.92 $127,466.79
7698356 GETINGE AB-B SHS SE GETIB SS 4,032.96 $67,633.56
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 24,272.45 $24,346.97
773903109 ROCKWELL AUTOMATION INC US ROK 60.12 $11,032.20
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 6,357.52 $283,100.18
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9,485.3 $679,906.43
78409V104 S&P GLOBAL INC US SPGI 1,781.22 $473,645.47
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,953.77 $783,015.15
78442PGC4 SLM CORP 5.12500 04/05/2022 US 31,740.9 $32,375.72
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 393,960.61 $395,930.41
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 724,439.41 $840,907.02
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 646,020.71 $718,084.54
806857108 SCHLUMBERGER LTD NL SLB 26,216.12 $710,194.63
81141R100 SEA LTD - ADR SG SE 1,198.69 $54,012.78
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 163,912.56 $166,738.31
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 222,472.85 $227,768.37
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 184,791.77 $180,963.48
81762P102 SERVICENOW INC US NOW 1,071.72 $349,477.90
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 24,272.45 $20,146.14
828806109 SIMON PROPERTY GROUP INC US SPG 584.41 $71,928.69
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 98.96 $10,191.57
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 14,359.67 $14,364.36
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 84,020.03 $85,887.55
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 248,325.88 $257,431.59
835699307 SONY CORP SPONSORED ADR JP SNE 21,434.44 $1,333,222.44
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 642,286.49 $643,249.92
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 35,475.13 $36,184.63
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 14,936.9 $15,853.27
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 20,538.23 $23,302.27
85254J102 STAG INDUSTRIAL INC US STAG 1,376.06 $38,502.20
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 22,405.34 $22,209.30
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 496,469.69 $493,930.04
862121100 STORE CAPITAL CORP US STOR 1,267.77 $41,658.89
866674104 SUN COMMUNITIES US SUI 494.78 $75,642.68
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 14,936.9 $13,443.21
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,297.64 $14,209.19
871829107 SYSCO CORP US SYY 314.42 $20,956.20
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 114,928.31 $115,288.28
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 20,538.23 $14,376.76
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 485,449.09 $550,513.78
882508104 TEXAS INSTRUMENTS INC US TXN 390.6 $44,583.06
88579Y101 3M CO US MMM 275.21 $41,072.68
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,792.55 $293,030.74
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 670,453.9 $679,139.97
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 371,245.83 $378,951.93
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 327,114.51 $328,883.09
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 14,936.9 $15,086.26
89417E109 TRAVELLERS COS INC US TRV 115.01 $13,779.84
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 809,344.27 $816,187.44
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 279,274.5 $287,994.74
89832Q109 TRUIST FINANCIAL CORP US TFC 648.26 $29,910.77
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 37,342.24 $35,475.13
902494103 TYSON FOODS INC -CL A US TSN 171.77 $11,651.45
902653104 UDR INC US UDR 838.71 $37,725.03
902973304 U.S. BANCORP US USB 725.19 $33,677.65
903002103 UMH PROPERTIES INC US UMH 1,060.52 $15,388.14
904767704 UNILEVER PLC - ADR GB UL 24,056.24 $1,297,353.18
907818108 UNION PAC CORP US UNP 287.16 $45,891.33
911312106 UNITED PARCEL SERVICE US UPS 427.2 $38,656.89
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 2,389,903.2 $2,379,396.25
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,979,855.32 $2,256,283.92
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 688,397.52 $791,143.24
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,791,332.25 $3,256,372.56
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 2,939,954.36 $3,791,048.19
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,438,200.5 $1,488,198.45
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 2,858,128.84 $2,864,347.06
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,458,214.38 $1,538,131.36
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 1,383,529.9 $1,388,723.75
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 7,569,271.54 $7,833,309.01
913017109 UNITED TECHNOLOGIES CORP US UTX 341.68 $44,620.18
91704F104 URBAN EDGE PROPERTIES US UE 1,529.16 $24,772.47
918204108 VF CORP US VFC 236.75 $17,045.98
91913Y100 VALERO ENERGY US VLO 246.83 $16,352.63
92276F100 VENTAS INC US VTR 715.85 $38,491.29
92339V100 VEREIT INC US VER 2,950.04 $25,547.32
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 806,592.33 $1,077,501.49
92556H206 VIACOMCBS INC US VIAC 201.27 $4,953.37
92826C839 VISA INC - CLASS A SHARES US V 11,352.04 $2,063,346.83
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 26,139.57 $24,440.49
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 141,900.5 $141,995.05
929042109 VORNADO REALTY TRUST US VNO 177.38 $9,503.79
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 423,834.4 $423,849.53
931142103 WAL MART STORES US WMT 882.02 $94,976.31
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 451.84 $20,676.25
94106L109 WASTE MANAGEMENT INC US WM 241.98 $26,813.55
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 20,538.23 $21,359.76
949746101 WELLS FARGO COMPANY US WFC 1,579.58 $64,525.71
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 182,454.84 $183,308.56
95040Q104 WELLTOWER INC. US WELL 849.91 $63,590.22
958102105 WESTERN DIGITAL CORP US WDC 205.76 $11,431.79
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 22,405.34 $12,883.07
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 496,651.76 $521,217.66
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 110,277.59 $110,417.71
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 188,869.8 $194,609.74
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 543.33 $27,682.64
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 35,475.13 $34,056.12
B02J639 ADMIRAL GROUP PLC GB ADM LN 4,727.53 $129,752.40
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 8,439.35 $55,246.14
B1Y47Y7 GERRESHEIMER AG DE GXI GR 1,140.81 $82,238.13
B1Y9TB3 DANONE FR BN FP 1,927.98 $136,073.66
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 466,777.97 $23,649.09
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 197,913.86 $152,654.29
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,157,609.36 $58,623.86
B4YVF56 BRENNTAG AG DE BNR GR 1,721.48 $78,108.48
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,792,427.4 $91,315.17
B63QM77 NEXON CO LTD JP 3659 JP 166,621.06 $2,634,936.45
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 560,133.56 $30,451.20
B7KR2P8 EASY JET PLC GB EZJ LN 49,728.66 $717,851.86
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -42.94 -$24,263.12
BBG00RBW6Q94 MU US 02/28/20 C60 US -81.41 -$81.41
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -2.99 -$59.75
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -78.79 -$27,577.24
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -45.56 -$24,236.61
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -88.87 -$10,576.07
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,710.27 $34,367.75
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 1,241.63 $15,456.42
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 15,932.07 $21,515.29
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 1,202.42 $53,244.38
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 2,352.56 $30,352.73
BJ2KSG2 AKZO NOBEL NL AKZA NA 971.27 $77,711.70
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 33,501.22 $1,698,669.31
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 19,501.98 $84,478.74
BNGN9Z1 FINECOBANK SPA IT FBK IM 10,496.9 $110,143.97
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 25,241.49 $787,506.37
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 3,808.91 $25,647.47
BYXS699 QIAGEN N.V. NL QIA GR 2,265.18 $83,021.26
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 17,737.56 $1,024,892.57
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 16,520.21 $31,225.98
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,472.06 $68,426.51
G29183103 EATON CORP PLC US ETN 264.76 $24,018.71
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 504.87 $18,462.99
G5960L103 MEDTRONIC INC IE MDT 14,379.75 $1,447,609.31
G97822103 PERRIGO CO PLC IE PRGO 1,628.12 $82,529.48
H01301128 ALCON INC CH ALC 15,031.37 $921,423.03
H1467J104 CHUBB LTD CH CB 165.43 $23,991.75
N22717107 CORE LABORATORIES N.V. NL CLB 1,366.73 $36,682.92
N47279109 INTERXION HOLDING NV NL INXN 1,112.8 $94,465.48
N53745100 LYONDELLBASELL INDU-CL A US LYB 243.1 $17,371.78
USD US DOLLAR US 1,591,375.6 $1,591,375.60

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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