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 growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets. A substantial portion of the portfolio may be invested in long-term, fixed income securities. Stock exposure can range from 51% - 81%.

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 2035
  • Who have time to pursue growth and can accept potentially significant 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

$15.57

Daily $ Change

-$0.01

Daily % Change

-0.06%

as of 10/19/2018

CUSIP

302027594

Inception Date

08/17/2012

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 09/30/2018

YTD

4.44%

1 Year

7.69%

3 Year

9.91%

5 Year

6.40%

10 Year

7.08%

Inception
(01/01/2000)

6.67%

US Stock Market Cycle (04/01/2000 - 09/30/2018)

6.82%

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class S expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.97%
Net 0.89%*

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

Top Ten Investments

As of 09/30/2018

TREASURY NOTES 9.79%
GOVERNMENT AGENCY 3.63%
TREASURY BONDS 3.59%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.30%
INCYTE CORP 2.15%
BOOKING HOLDINGS INC 1.73%
MEDTRONIC INC 1.65%
MASTERCARD INC-CLASS A 1.61%
QORVO INC 1.57%
NOVARTIS AG- REG 1.48%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 09/30/2018

Stocks 62.74%
Bonds 36.54%
Cash 0.72%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities 21.68%
Small Capitalization 0.98%
Mid Capitalization 6.18%
Large Capitalization 33.89%
Long Term Fixed Income 10.60%
Intermediate Term Fixed Income 18.02%
Short Term Fixed Income 7.93%
Cash 0.72%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 8,286.76 $8,411.06
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 153,643.44 $151,658.73
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 216,734.8 $213,522.79
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 43,392.25 $44,260.09
004239109 ACADIA REALTY TRUST US AKR 203.88 $5,714.81
0045614 ANTOFAGASTA PLC GB ANTO LN 5,912.6 $65,703.31
0053673 ASHTEAD GROUP PLC GB AHT LN 351.91 $11,165.59
00724F101 ADOBE SYS INC US ADBE 769.04 $207,602.07
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 149,927.98 $148,348.62
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 6,615.79 $179,155.53
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 645.02 $4,763.49
008492100 AGREE REALTY CORP US ADC 90.82 $4,824.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 6,419.97 $6,621.57
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 34.9 $4,390.64
01609W102 ALIBABA GROUP - ADR CN BABA 3,091.76 $509,399.08
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 245,454.33 $228,786.64
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 13,459.18 $13,593.78
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,282.78 $11,282.78
02079K107 ALPHABET INC-CL C US GOOG 282.31 $336,927.37
02079K305 ALPHABET INC-CL A US GOOGL 278.99 $336,757.55
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 8,669.39 $8,658.56
02209S103 ALTRIA GROUP INC US MO 1,962.18 $118,339.10
023135106 AMAZON.COM INC US AMZN 184.32 $369,184.72
02319V103 AMBEV SA-ADR BR ABEV 107,468.37 $491,130.46
0237400 DIAGEO PLC GB DGE LN 14,698.9 $520,756.72
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 222.15 $9,143.65
0263494 BAE SYSTEMS PLC GB BA/ LN 2,057.64 $16,872.66
02665T306 AMERICAN HOMES 4 RENT- A US AMH 920.53 $20,150.48
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 159,016.24 $152,128.64
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 13,777.86 $13,777.86
03027X100 AMERICAN TOWER REIT INC US AMT 2,679.02 $389,261.02
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 5,535.9 $5,571.05
03064D108 AMERICOLD REALTY TRUST US COLD 172.59 $4,318.27
03748R101 APARTMENT INVT & MGMT CO -A US AIV 328.82 $14,510.88
03784Y200 APPLE HOSPITALITY REIT INC US APLE 429.59 $7,513.55
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 11,182.59 $10,944.96
0405207 HALMA PLC GB HLMA LN 605.65 $11,402.52
0490656 KERRY GROUP PLC-A IE KYGA LN 184.57 $20,369.22
053332102 AUTOZONE INC US AZO 316.45 $245,473.12
053484101 AVALONBAY COMMUNITIES INC US AVB 214.54 $38,863.27
058498106 BALL CORP US BLL 14,055.14 $618,285.41
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 233,870.99 $230,798.44
0822011 DS SMITH PLC GB SMDS LN 2,230.65 $13,894.56
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,219.31 $506,116.25
09062X103 BIOGEN IDEC INC US BIIB 607.7 $214,707.32
0922320 SMITH & NEPHEW PLC GB SN/ LN 517.62 $9,443.80
09247X101 BLACKROCK INC US BLK 1,209.27 $569,963.92
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,048.01 $24,043.44
09627J102 BLUEROCK RESIDENTIAL GROWTH US 394.63 $3,867.40
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 215,057.11 $227,591.18
09857L108 BOOKING HOLDINGS INC US BKNG 468.33 $929,175.10
101121101 BOSTON PROPERTIES INC US BXP 215.27 $26,498.07
105368203 BRANDYWINE REALTY TRUST US BDN 1,095.23 $17,216.98
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,118.34 $255,666.77
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 331.41 $15,453.77
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 9,634.49 $9,538.14
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 13,568.43 $13,415.79
12503M108 CBOE GLOBAL MARKETS INC US CBOE 425.15 $40,797.35
125269100 CF INDUSTRIES HOLDINGS INC US CF 10,133.94 $551,691.84
12572Q105 CME GROUP INC US CME 262.21 $44,630.84
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 154,463.06 $154,663.86
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 25,261.02 $24,692.65
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 56,902.32 $52,637.13
13321L108 CAMECO CORP CA CCJ 800.25 $9,122.85
134429109 CAMPBELL SOUP CO US CPB 4,103.22 $150,300.83
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 550.06 $6,287.18
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 6,875.44 $6,858.25
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 72,618.01 $72,429.14
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 23,503.48 $21,865.29
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 10,973.16 $11,508.10
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 14,296.92 $14,314.50
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 123,087.85 $121,617.26
165240102 CHESAPEAKE LODGING TRUST US CHSP 219.15 $7,028.24
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 160,254.73 $231,322.16
191216100 COCA COLA CO/THE US KO 5,044.41 $233,001.29
194162103 COLGATE-PALMOLIVE CO US CL 1,935.37 $129,573.21
19626G108 COLONY CAPITAL INC US CLNY 1,013.14 $6,170.04
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 294.81 $9,133.17
2162760 CAE INC CA CAE CN 254.75 $5,171.28
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 449.43 $14,683.51
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 61.73 $5,539.16
21871N101 CORECIVIC INC US CXW 528.31 $12,853.87
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 102,665.75 $113,588.32
222795106 COUSINS PROPERTIES INC US CUZ 1,906.68 $16,950.42
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 12,011.27 $11,735.01
22822V101 CROWN CASTLE INTL CORP US CCI 120.24 $13,386.32
228368106 CROWN HOLDINGS INC US CCK 1,489.28 $71,485.44
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 37,596.29 $34,494.07
229663109 CUBESMART US CUBE 232.26 $6,626.30
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 8,286.76 $8,473.21
23331A109 DR HORTON INC US DHI 54.36 $2,292.73
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 4,471.07 $50,918.93
23918K108 DAVITA INC. US DVA 6,183.77 $442,943.31
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 16,673.7 $15,902.54
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 2,400.4 $5,107.61
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,390.37 $15,031.03
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 5,950.93 $10,557.39
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,572.46 $191,449.17
253393102 DICK'S SPORTING GOODS INC US DKS 5,461.81 $193,785.03
253868103 DIGITAL REALTY TRUST INC US DLR 250.85 $28,215.91
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 159,016.24 $155,475.99
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 18,740.86 $18,975.12
2639349 GRUPO AEROPORT DEL SURESTE-B MX 465.43 $9,510.54
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 1,560.99 $4,492.62
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 25,261.02 $25,387.32
269246401 ETRADE FINANCIAL CORP US ETFC 6,344.61 $332,393.90
2715777 QUEBECOR INC -CL B CA QBR/B CN 11,686.64 $234,338.92
277276101 EASTGROUP PROPERTIES US EGP 42.65 $4,078.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 10,993.06 $214,218.53
285512109 ELECTRONIC ARTS US EA 3,637.96 $438,338.06
2866857 LUNDIN MINING CORP CA LUN CN 24,480.3 $129,636.73
294429105 EQUIFAX INC US EFX 1,981.25 $258,692.38
29444U700 EQUINIX INC US EQIX 931.1 $403,062.31
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 98.28 $9,479.56
29476L107 EQUITY RESIDENTIAL US EQR 391.51 $25,941.39
297178105 ESSEX PROPERTY TRUST INC US ESS 45.45 $11,212.92
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 190,417 $186,905.71
30225T102 EXTRA SPACE STORAGE INC US EXR 102.2 $8,854.65
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 12,582.15 $12,520.86
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 16,263.89 $16,589.17
30286XAN9 FREMF 2015-K43 B FLT 3.86212 02/25/2048 US 130,040.88 $126,461.80
30290HAE8 FREMF 2012-K708 FLT 3.88522 02/25/2045 US 24,769.69 $24,789.67
30291EAE4 FREMF 2013-K712 B FLT 3.47300 05/25/2045 US 83,597.71 $83,581.86
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 8,917,447.55 $31,031.83
30291XAE2 FREMF 2014-K715 B FLT 4.11905 02/25/2046 US 108,367.4 $109,632.34
30292HAU0 FREMF 2014- K503 B 3.08905 10/25/2047 US 77,405.29 $77,213.13
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 17,590.22 $19,000.90
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 10,941.29 $11,787.77
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 9,605.32 $10,632.02
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 695.38 $715.65
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,592.86 $1,640.94
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,086.84 $1,118.81
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 846.09 $873.44
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,497.05 $1,544.56
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 97,717.18 $101,303.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 15,993.78 $17,241.74
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 50,088.94 $52,332.94
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 53,623.08 $55,643.20
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 31,604.88 $32,711.05
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 45,930.9 $48,188.54
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 64,084.87 $64,772.49
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 73,293.48 $74,079.94
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 1,544.91 $1,558.58
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 54,379.4 $53,822.46
3137A2B34 FHMS K009 X1 FLT 1.44868 08/25/2020 US 911,960.44 $17,543.93
3137ADTK3 FHMS K014 X1 FLT 1.32335 04/25/2021 US 214,734.21 $5,329.02
3137AJMG6 FMHS K016 X1 FLT 1.66787 10/25/2021 US 261,822.84 $9,743.89
3137AL6W4 FHMS K706 X1 FLT 1.69370 10/25/2018 US 128,744.8 $15.50
3137AME78 FHMS K017 X1 FLT 1.48234 12/25/2021 US 1,792,495.46 $61,879.63
3137AUPF0 FHMS K021 x1 FLT 1.58570 06/25/2022 US 777,734.07 $34,528.83
3137B3NB0 FHMS K030 X1 FLT 0.31093 04/25/2023 US 2,912,377.34 $23,178.74
3137B4GZ3 FHMS K032 X1 FLT 0.21916 05/25/2023 US 1,869,643.86 $9,036.55
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 71,590.73 $72,664.21
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 71,548.68 $73,737.28
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 15,044.03 $15,655.45
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 7,092.33 $7,379.12
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 96,804.32 $100,738.45
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 204,978.39 $218,436.28
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 39,046.09 $42,186.72
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 20,458.04 $22,096.92
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 127,091.91 $125,570.75
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 46,208.61 $46,713.19
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 106,803.51 $107,928.07
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 37,106.54 $38,302.30
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 106,360.72 $111,806.54
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 72,359.61 $76,060.89
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 83,222.94 $87,475.61
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 1,173.9 $1,205.70
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,437.65 $1,476.49
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 9,953.5 $10,143.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 12,018.77 $12,241.18
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 72,997.02 $77,251.17
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 36,759.47 $39,703.05
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 6,762.16 $7,264.81
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 501.3 $508.72
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 6,814.64 $6,945.51
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 81,808.3 $84,819.29
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 52,951 $54,901.80
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 35,064.4 $33,590.53
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,903.48 $3,196.04
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,101.09 $1,141.93
31428X106 FEDEX CORPORATION US FDX 1,957.1 $471,249.58
3174300 BURBERRY GROUP PLC GB BRBY LN 381.07 $10,006.66
32054K103 FIRST INDUSTRIAL REALTY TR US FR 230.6 $7,240.84
3208986 NEXT PLC GB NXT LN 67.73 $4,847.37
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 12,630.51 $11,809.53
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 13,258.81 $13,165.33
35671D857 FREEPORT-MCMORAN INC US FCX 10,679.63 $148,660.46
357081AE8 FREMF 2015-K720 B FLT 3.50676 07/25/2022 US 66,258.92 $64,523.23
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 128,127.14 $130,660.43
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 148,618.15 $148,428.39
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 24.13 $24.39
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 32,448.3 $31,733.39
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 3,114.67 $3,139.70
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 147,032.15 $146,976.72
371559105 GENESEE & WYOMING INC -CL A US GWR 3,827.27 $348,243.68
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 10,772.78 $10,180.28
374297109 GETTY REALTY CORP US GTY 267.2 $7,631.18
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 26,708.94 $26,575.39
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,741.59 $83,585.65
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 12,940.13 $12,616.63
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 121.74 $13,291.70
404121AH8 HCA INC 5.37500 09/01/2026 US 12,739.75 $12,867.15
40414L109 HCP INC US HCP 503.74 $13,258.55
4057808 L'OREAL FR OR FP 43.05 $10,379.84
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 16.59 $5,862.99
4163437 CAP GEMINI FR CAP FP 43.97 $5,535.11
421946104 HEALTHCARE REALTY TRUST INC US HR 321.27 $9,400.40
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 347.41 $9,265.34
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 89.12 $4,973.31
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 19,196.51 $20,492.28
44107P104 HOST MARRIOTT CORP US HST 876.89 $18,502.47
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 24,241.02 $23,635.00
4457624 TRIGANO SA FR TRI FP 162.04 $17,721.16
4497749 KBC GROEP NV BE KBC BB 145.79 $10,840.81
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 19,669.72 $19,374.68
45337C102 INCYTE CORP US INCY 16,751.24 $1,157,175.42
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 634.7 $6,683.42
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 12,256.93 $12,195.65
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 586.62 $43,932.17
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 162,649.62 $165,813.18
46120E602 INTUITIVE SURGICAL INC US ISRG 324.83 $186,453.00
46187BAA1 IHSFR 2017-SFR2 A 3.00844 12/17/2036 US 30,481.73 $30,557.87
46187BAB9 IHSFR 2017-SFR2 B 3.30844 12/17/2036 US 22,911.96 $22,968.67
46187W107 INVITATION HOMES INC US INVH 801.92 $18,372.06
464287739 ISHARES DJ US REAL ESTATE US 187.12 $14,973.11
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 223,945 $228,378.71
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 26,600.19 $25,443.69
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 31,803.3 $30,957.27
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 54,732.16 $53,909.05
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 71,318.35 $70,208.56
4741844 MERCK KGAA DE MRK GR 2,634.39 $272,186.55
476405105 JERNIGAN CAPITAL INC US JCAP 345.41 $6,663.01
478160104 JOHNSON & JOHNSON US JNJ 4,647.64 $642,163.84
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 23,503.48 $17,980.16
4800659 LUXOTTICA GROUP SPA IT LUX IM 83.4 $5,651.92
4821100 SOLVAY SA BE SOLB BB 179.62 $24,078.86
4824778 SGS SA-REG CH SGSN SW 2.39 $6,281.75
4846288 SAP AG DE SAP GR 46.78 $5,752.09
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 193,966.65 $235,122.26
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 19,961.23 $20,410.36
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 12,384.85 $12,183.55
50187T106 LGI HOMES INC US LGIH 38.41 $1,822.20
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 18,321.99 $18,001.36
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 16,564.45 $16,171.05
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 16,573.51 $17,360.75
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 2,533.09 $2,525.99
5048566 SWEDISH MATCH AB SE SWMA SS 90.47 $4,624.43
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 11,282.78 $11,437.92
5107401 BEIERSDORF AG DE BEI GR 1,798.51 $202,734.45
512816109 LAMAR ADVERTISING CO US LAMR 83.36 $6,485.36
5228658 RANDSTAD HOLDING NV NL RAND NA 264.14 $14,098.62
5253973 HERMES INTERNATIONAL FR RMS FP 16.6 $10,998.35
526057104 LENNAR CORP US LEN 40.29 $1,880.97
5263574 FLSMIDTH & CO A/S DK FLS DC 100.13 $6,226.49
5289837 ERSTE GROUP BANK AG AT EBS AV 219.12 $9,097.30
529043101 LEXINGTON REALTY TRUST US LXP 837.53 $6,951.49
531172104 LIBERTY PROPERTY TRUST US LPT 359.38 $15,183.86
53223X107 LIFE STORAGE INC US LSI 51.98 $4,946.32
5458314 AKZO NOBEL NL AKZA NA 2,021.2 $189,069.68
5474008 BANKINTER S.A. ES BKT SM 1,509.26 $13,863.79
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 2.39 $4,517.90
550021109 LULULEMON - ADR CA LULU 4,793.69 $778,927.25
554382101 THE MACERICH CO US MAC 106.33 $5,878.75
5545670 JUNGHEINRICH AG DE JUN3 GR 258.96 $9,855.61
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 72,477.97 $77,963.35
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 20,808.02 $20,469.89
5633616 SOPRA STERIA GROUP FR SOP FP 144.53 $23,167.17
5669354 REPSOL SA ES REP SM 1,219.25 $24,271.98
5671519 WOLTERS KLUWER NL WKL NA 79.37 $4,947.92
5699373 WIENERBERGER AG AT WIE AV 379.42 $9,485.16
5713422 METSO OYJ FI METSO FH 452.69 $16,021.65
5727973 SIEMENS AG-REG DE SIE GR 160.67 $20,543.94
57636Q104 MASTERCARD INC-CLASS A US MA 3,896.23 $867,339.44
5852842 ACCOR SA FR AC FP 284.59 $14,620.02
58933Y105 MERCK & CO INC US MRK 4,300.09 $305,048.05
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 9,944.11 $9,173.44
594918104 MICROSOFT CORP US MSFT 6,811.46 $779,027.19
59522J103 MID-AMERICA APARTMENT COMM US MAA 190.42 $19,076.55
5980613 GIVAUDAN - REG CH GIVN SW 1.56 $3,831.53
5999330 TELEPERFORMANCE FR TEP FP 24.28 $4,580.02
6054603 ASAHI KASEI CORP JP 3407 JP 311.25 $4,719.23
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,173.6 $437,057.78
6125286 TREND MICRO INC JP 4704 JP 147.34 $9,477.40
6129277 NTT DOCOMO INC JP 9437 JP 348.59 $9,369.18
6136749 OBIC CO LTD JP 4684 JP 95.43 $9,026.27
6141680 ORACLE CORP JAPAN JP 4716 JP 126.58 $10,198.59
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 227,460.07 $231,158.65
6180412 COMPUTERSHARE LTD AU CPU AU 391.77 $5,641.96
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 147.34 $9,471.44
6198578 REA GROUP LTD AU REA AU 78.33 $4,859.92
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 22,893.29 $23,351.16
6248990 KDDI CORP JP 9433 JP 379.73 $10,475.53
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 15,125.59 $14,180.24
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 14,981.6 $15,052.75
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 9,634.49 $9,225.02
62944T105 NVR INC US NVR .31 $765.01
6308913 ELBIT SYSTEMS LTD IL ESLT IT 36.42 $4,627.23
6353418 FRUTAROM IL FRUT IT 53.33 $5,532.83
6356934 FANUC LTD JP 6954 JP 44.48 $8,368.20
637417106 NATIONAL RETAIL PROPERTIES US NNN 166.48 $7,461.74
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 205.44 $10,374.15
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 10,144.48 $10,753.15
64110W102 NETEASE.COM INC- ADR CN NTES 50.87 $11,610.47
6441506 HOYA CORP JP 7741 JP 85.05 $5,051.35
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 85.18 $10,324.44
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 109.98 $10,259.39
6467104 ISUZU MOTORS LTD JP 7202 JP 305.06 $4,809.11
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 212.28 $15,710.52
6482903 KANAMOTO CO LTD JP 9678 JP 263.53 $9,343.36
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 37,353.69 $37,290.24
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 68,055.4 $67,896.15
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 118,828.92 $118,255.97
6483809 KAO CORP JP 4452 JP 58.1 $4,693.02
6490809 KIKKOMAN CORP JP 2801 JP 78.86 $4,696.64
6490995 KEYENCE CORP JP 6861 JP 212.31 $123,329.96
6518808 LION CORP JP 4912 JP 437.83 $9,724.01
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 5,063.07 $10,082.91
654106103 NIKE INC CLASS B US NKE 1,320.27 $111,853.05
6555805 MAKITA CORP JP 6586 JP 95.43 $4,778.95
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 197.06 $5,744.20
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 11,547.93 $9,970.35
6640507 NIPPON PAINT HOLDINGS CO LTD JP 4612 JP 132.77 $4,955.76
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 85.05 $4,492.51
6642387 YAMAHA CORP JP 7951 JP 273.92 $14,514.22
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 22,893.29 $23,408.39
66987V109 NOVARTIS AG- REG CH NVS 9,242.32 $796,318.61
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 9,288.63 $9,468.93
67091GAA1 OCI NV 6.62500 04/15/2023 NL 18,321.99 $18,963.26
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 370.28 $128,604.97
6742340 SHANDONG WEIGAO CN 1066 HK 2,178.11 $2,149.38
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 595.19 $10,367.73
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 675.63 $4,920.10
6791591 SECOM CO LTD JP 9735 JP 51.91 $4,229.86
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 263.53 $4,859.85
680665205 OLIN CORP US OLN 4,640.2 $119,160.43
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 55,731.81 $55,146.36
6865504 SUZUKI MOTOR CORP JP 7269 JP 226.2 $12,963.73
6883807 SYSMEX CORP JP 6869 JP 58.1 $5,009.98
6885074 TERUMO CORP JP 4543 JP 163.91 $9,701.01
69007J106 OUTFRONT MEDIA INC US OUT 257.8 $5,143.08
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 6,225.03 $11,030.52
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 17,493.32 $17,843.18
6948836 WESFARMERS LTD AU WES AU 134.46 $4,841.91
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 524.77 $14,639.60
6985383 ASTELLAS PHARMA INC JP 4503 JP 263.53 $4,602.10
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 222.01 $4,696.17
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 17,493.32 $17,077.85
7103065 NOVARTIS AG-REG CH NOVN SW 283.45 $24,398.95
7110902 TECAN GROUP AG-REG CH TECN SW 21.89 $5,182.37
7123870 NESTLE SA-REGISTERED CH NESN SW 2,822.83 $234,962.79
7145056 ENI SPA IT ENI IM 759.98 $14,325.29
7156036 SONOVA HOLDING AG-REG CH SOON SW 23.45 $4,653.79
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 122,626.98 $112,326.31
718172109 PHILIP MORRIS INTERNATIONAL US PM 1,603.21 $130,725.88
71943U104 PHYSICIANS REALTY TRUST US DOC 1,114.04 $18,782.74
7212477 ESSILORLUXOTTICA FR EL FP 74.39 $11,011.02
729640102 PLYMOUTH INDUSTRIAL REIT INC US 319.22 $4,947.87
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 13,777.86 $14,129.20
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 14,296.92 $14,473.91
7339451 ORPEA SA FR ORP FP 142.36 $18,416.70
7380062 AAREAL BANK AG DE ARL GR 239.6 $9,990.64
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 732.05 $31,552.10
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 238,005.31 $230,899.37
74340W103 PROLOGIS US PLD 560.5 $37,996.60
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 144,955.93 $153,290.90
74460D109 PUBLIC STORAGE INC US PSA 111.3 $22,440.98
74736K101 QORVO INC US QRVO 11,003.69 $846,074.08
758849103 REGENCY CENTERS CORP US REG 155.03 $10,025.67
75886F107 REGENERON PHARMACEUTICALS INC US REGN 951 $384,243.58
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 10,144.48 $10,423.46
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 410.55 $29,120.03
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 76.24 $7,322.53
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,430.92 $390,479.45
78442PGC4 SLM CORP 5.12500 04/05/2022 US 15,526.34 $15,448.71
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 177,601.76 $177,585.03
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 214,019.01 $231,140.07
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 147,032.15 $145,192.19
806857108 SCHLUMBERGER LTD NL SLB 9,161.45 $558,115.37
808513105 CHARLES SCHWAB CORP/THE US SCHW 13,537.28 $665,357.33
81211K100 SEALED AIR CORP US SEE 9,948.52 $399,433.09
812578102 SEATTLE GENETICS INC US SGEN 5,502.92 $424,385.03
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 9,634.49 $9,465.88
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 32,606.12 $30,870.10
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 45,522.47 $43,130.63
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 38,822.75 $34,409.95
81762P102 SERVICENOW INC US NOW 2,322.92 $454,432.35
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 12,839.94 $12,486.84
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 11,592.4 $11,954.66
828806109 SIMON PROPERTY GROUP INC US SPG 274.77 $48,564.78
83088M102 SKYWORKS SOLUTIONS INC US SWKS 2,879.84 $261,230.33
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 17,245.29 $17,079.96
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 13,932.95 $13,507.35
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,986.02 $40,618.74
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,684.22 $115,797.07
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 122,671.9 $126,408.29
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 18,531.43 $18,392.44
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 5,900.92 $5,937.50
85254J102 STAG INDUSTRIAL INC US STAG 354.62 $9,752.02
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.37844 11/15/2027 US 84,858.89 $84,890.14
866674104 SUN COMMUNITIES US SUI 189.28 $19,219.94
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 675.16 $11,045.65
874080104 TAL EDUCATION GROUP - ADR CN TAL 190.9 $4,908.12
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 9,425.05 $9,601.77
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 35,028.7 $34,932.26
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 15,007.29 $14,181.89
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 161,292.84 $152,665.72
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 9,115.43 $8,477.35
882508104 TEXAS INSTRUMENTS INC US TXN 2,855.41 $306,356.53
883556102 THERMO FISHER SCIENTIFIC INC US TMO 473.11 $115,476.63
88650V208 TIER REIT INC US TIER 676.39 $16,301.04
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 160,747.57 $156,195.87
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 138,116.5 $133,148.58
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 46,443.17 $44,426.67
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 1,466.03 $1,451.37
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,460.29 $19,995.45
902653104 UDR INC US UDR 545.45 $22,052.62
903002103 UMH PROPERTIES INC US UMH 354.11 $5,538.27
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 10,681.65 $10,668.30
90384S303 ULTA BEAUTY INC US ULTA 701.81 $197,994.89
904767704 UNILEVER PLC - ADR GB UL 10,019.56 $550,775.09
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 341,340.39 $447,035.91
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 532,373.86 $653,821.65
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 245,511.79 $230,371.89
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 296,617.06 $259,783.24
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 592,123.17 $570,288.63
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 1,057,788.38 $1,009,237.54
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 551,839.14 $538,021.60
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 900,618.58 $896,326.57
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,251,850.52 $1,235,501.48
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 383,930.22 $362,334.14
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 602,218.66 $544,772.65
912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 383,930.22 $383,431.63
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 238,370.21 $230,758.25
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 359,160.53 $345,004.55
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 889,560.76 $844,561.49
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 359,160.53 $340,066.09
91704F104 URBAN EDGE PROPERTIES US UE 693.93 $15,321.98
92276F100 VENTAS INC US VTR 141.88 $7,715.26
92339V100 VEREIT INC US VER 1,018.98 $7,397.81
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 215,876.73 $236,379.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,296.68 $249,922.21
92826C839 VISA INC - CLASS A SHARES US V 5,098.18 $765,185.12
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 23,531.21 $23,928.74
929042109 VORNADO REALTY TRUST US VNO 232.25 $16,954.12
92936CAE9 WFRBS 2011-C4 A3 4.39400 06/15/2044 US 1,292.53 $1,297.18
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 13,777.86 $14,242.87
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 10,973.16 $10,616.53
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 19,150.67 $18,241.01
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 37,154.54 $37,830.07
95040Q104 WELLTOWER INC. US WELL 184.49 $11,866.70
962166104 WEYERHAEUSER CO US WY 197.49 $6,373.04
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 12,630.51 $12,693.66
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 14,087.48 $13,981.83
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 115,396.45 $109,847.49
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 40,202.88 $40,170.15
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 44,807.83 $43,734.75
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 14,425.65 $500,858.66
AP0787667 MPC CONTAINER SHIPS FLT 7.11638 09/22/2022 NL 12,384.85 $12,651.49
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 24,641.78 $24,333.75
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 736.7 $4,699.15
B02J639 ADMIRAL GROUP PLC GB ADM LN 211.28 $5,727.34
B037JC2 NEXITY FR NXI FP 167.04 $9,231.96
B0386J1 JYSKE BANK-REG DK JYSK DC 221.08 $10,705.20
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 269.73 $4,737.32
B06JSP1 SYDBANK A/S DK SYDB DC 279.48 $8,216.62
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 23.45 $5,282.46
B09M9D2 KONE OYJ-B FI KNEBV FH 193.18 $10,311.70
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 253.15 $9,835.24
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 39.01 $9,735.49
B138HB7 KAUFMAN & BROAD SA FR KOF FP 294.75 $13,832.12
B13X013 EIFFAGE FR FGR FP 167.15 $18,671.73
B15C557 TOTAL SA FR FP FP 368.42 $23,954.96
B19NLV4 EXPERIAN PLC GB EXPN LN 215.65 $5,533.50
B1CRLC4 MONDI PLC GB MNDI LN 200.81 $5,498.19
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,466.1 $29,069.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,149.93 $8,218.65
B1WGG93 GEBERIT AG-REG CH GEBN SW 30.61 $14,205.57
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 275.95 $16,155.82
B1XH026 VINCI SA FR DG FP 2,238.9 $213,008.70
B1Y9TB3 DANONE FR BN FP 265.09 $20,601.84
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 2,116.29 $10,102.83
B232R05 SK INNOVATION CO LTD KR 096770 KS 60.16 $11,660.63
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 263.35 $10,799.68
B283W97 CAIXABANK S.A ES CABK SM 32,197.86 $146,433.26
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 1,235.52 $2,534.84
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 47.72 $4,938.90
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,008.18 $20,230.46
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 56.96 $5,279.52
B3NB1P2 SUNCOR ENERGY INC CA SU CN 347.37 $13,441.27
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 77,405.29 $4,009.99
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,819.84 $25,817.56
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 191,965.11 $9,844.14
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 22,887.64 $19,273.49
B4R2R50 JULIUS BAER CH BAER SW 3,090.71 $154,461.84
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 57,063.38 $17,015.52
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 57,279.91 $42,089.35
B4YVF56 BRENNTAG AG DE BNR GR 137.71 $8,492.78
B607XS1 VERMILION ENERGY INC CA VET CN 495.73 $16,334.22
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 297,236.3 $15,935.04
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,659.46 $20,945.63
B63QM77 NEXON CO LTD JP 3659 JP 1,406.73 $18,388.13
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 92,886.34 $4,856.51
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 102.4 $5,616.47
B7VQL46 FNAC DARTY SA FR FNAC FP 167.46 $13,204.74
B8FMRX8 COLOPLAST-B DK COLOB DC 100.32 $10,248.59
BB22L96 KION GROUP AG DE KGX GR 227.84 $13,989.49
BBG00LNRP8L0 AMZN US 09/28/18 P1825 US -.62 -$0.62
BBG00LRS8WH5 QRVO US 10/19/18 P70 US -16.66 -$566.36
BBG00LXHFRM9 SCHW US 10/26/18 C51.5 US -17.03 -$1,294.22
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 14,027.26 $7,364.61
BD6G507 FERRARI NV IT RACE IM 39.84 $5,472.25
BD6K457 COMPASS GROUP PLC GB CPG LN 252.57 $5,615.53
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 20,762.18 $21,229.33
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 13,357.07 $7,026.17
BDZV116 EPIROC AB-A SE EPIA SS 1,526.63 $17,057.19
BF2DSG3 SIKA AG-REG CH SIKA SW 32.16 $4,680.38
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 23,703.86 $22,281.62
BFYFZP5 FERGUSON PLC CH FERG LN 66.57 $5,646.81
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 111 $22,359.89
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,547.7 $7,497.74
BGLP232 MONCLER SPA IT MONC IM 235.1 $10,115.57
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 20,190.37 $15,766.11
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 106.34 $5,005.03
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 14,600.34 $596,143.96
BNBNSG0 EURONEXT NV NL ENX FP 256.26 $16,837.56
BNGN9Z1 FINECOBANK SPA IT FBK IM 12,204.8 $162,749.66
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,572.17 $349,613.05
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 290.49 $9,702.77
BVSS790 ELIS SA FR ELIS FP 819.33 $19,290.56
BYQ32R1 NEMAK SAB DE CV MX 12,224.04 $9,210.16
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 20,252.29 $9,758.40
BYXS699 QIAGEN N.V. NL QIA GR 310.34 $11,753.24
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 368.63 $10,751.52
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 7,078.17 $619,591.03
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 10,779.04 $8,137.65
BYZFYS3 SPIE SA FR SPIE FP 1,059.91 $21,108.15
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 219.64 $14,887.90
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 255.54 $9,592.54
BZ3C3Q4 BANKIA SA ES BKIA SM 23,366.82 $91,217.33
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 31,183.16 $9,232.36
G02602103 AMDOCS LTD GG DOX 2,967.93 $195,823.76
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 4,171.49 $121,640.71
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 172.76 $8,959.52
G27358103 DESPEGAR.COM CORP AR DESP 225.3 $3,800.77
G3157S106 ENSCO INTERNATIONAL INC US ESV 28,486.06 $240,422.37
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 22,774.99 $23,685.99
G5960L103 MEDTRONIC INC IE MDT 8,995.57 $884,893.91
G97822103 PERRIGO CO PLC IE PRGO 2,500.35 $177,024.74
H8817H100 TRANSOCEAN LTD US RIG 20,968.85 $292,515.51
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 79.68 $9,375.91
N22717107 CORE LABORATORIES N.V. NL CLB 93.77 $10,861.05
N47279109 INTERXION HOLDING NV NL INXN 4,588.16 $308,783.11
N59465109 MYLAN NV US MYL 1,773.48 $64,909.40
N72482123 QIAGEN N.V. ADR NL QGEN 3,799.35 $143,919.48
USD US DOLLAR US 388,652 $388,652.00

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

$15.57

Daily $ Change

-$0.01

Daily % Change

-0.06%

as of 10/19/2018

CUSIP

302027594

Inception Date

08/17/2012

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets. A substantial portion of the portfolio may be invested in long-term, fixed income securities. Stock exposure can range from 51% - 81%.

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 2035
  • Who have time to pursue growth and can accept potentially significant 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 09/30/2018

YTD

4.44%

1 Year

7.69%

3 Year

9.91%

5 Year

6.40%

10 Year

7.08%

Inception
(01/01/2000)

6.67%

US Stock Market Cycle (04/01/2000 - 09/30/2018)

6.82%

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class S expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.97%
Net 0.89%*

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

Top Ten Investments

As of 09/30/2018

TREASURY NOTES 9.79%
GOVERNMENT AGENCY 3.63%
TREASURY BONDS 3.59%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.30%
INCYTE CORP 2.15%
BOOKING HOLDINGS INC 1.73%
MEDTRONIC INC 1.65%
MASTERCARD INC-CLASS A 1.61%
QORVO INC 1.57%
NOVARTIS AG- REG 1.48%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 09/30/2018

Stocks
62.74%
Bonds
36.54%
Cash
0.72%

Detailed Asset Class Allocation

As of 09/30/2018

International Equities
21.68%
Small Capitalization
0.98%
Mid Capitalization
6.18%
Large Capitalization
33.89%
Long Term Fixed Income
10.60%
Intermediate Term Fixed Income
18.02%
Short Term Fixed Income
7.93%
Cash
0.72%

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

September Fund Holdings

As of 09/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 8,286.76 $8,411.06
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 153,643.44 $151,658.73
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 216,734.8 $213,522.79
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 43,392.25 $44,260.09
004239109 ACADIA REALTY TRUST US AKR 203.88 $5,714.81
0045614 ANTOFAGASTA PLC GB ANTO LN 5,912.6 $65,703.31
0053673 ASHTEAD GROUP PLC GB AHT LN 351.91 $11,165.59
00724F101 ADOBE SYS INC US ADBE 769.04 $207,602.07
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 149,927.98 $148,348.62
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 6,615.79 $179,155.53
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 645.02 $4,763.49
008492100 AGREE REALTY CORP US ADC 90.82 $4,824.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 6,419.97 $6,621.57
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 34.9 $4,390.64
01609W102 ALIBABA GROUP - ADR CN BABA 3,091.76 $509,399.08
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 245,454.33 $228,786.64
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 13,459.18 $13,593.78
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,282.78 $11,282.78
02079K107 ALPHABET INC-CL C US GOOG 282.31 $336,927.37
02079K305 ALPHABET INC-CL A US GOOGL 278.99 $336,757.55
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 8,669.39 $8,658.56
02209S103 ALTRIA GROUP INC US MO 1,962.18 $118,339.10
023135106 AMAZON.COM INC US AMZN 184.32 $369,184.72
02319V103 AMBEV SA-ADR BR ABEV 107,468.37 $491,130.46
0237400 DIAGEO PLC GB DGE LN 14,698.9 $520,756.72
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 222.15 $9,143.65
0263494 BAE SYSTEMS PLC GB BA/ LN 2,057.64 $16,872.66
02665T306 AMERICAN HOMES 4 RENT- A US AMH 920.53 $20,150.48
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 159,016.24 $152,128.64
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 13,777.86 $13,777.86
03027X100 AMERICAN TOWER REIT INC US AMT 2,679.02 $389,261.02
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 5,535.9 $5,571.05
03064D108 AMERICOLD REALTY TRUST US COLD 172.59 $4,318.27
03748R101 APARTMENT INVT & MGMT CO -A US AIV 328.82 $14,510.88
03784Y200 APPLE HOSPITALITY REIT INC US APLE 429.59 $7,513.55
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 11,182.59 $10,944.96
0405207 HALMA PLC GB HLMA LN 605.65 $11,402.52
0490656 KERRY GROUP PLC-A IE KYGA LN 184.57 $20,369.22
053332102 AUTOZONE INC US AZO 316.45 $245,473.12
053484101 AVALONBAY COMMUNITIES INC US AVB 214.54 $38,863.27
058498106 BALL CORP US BLL 14,055.14 $618,285.41
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 233,870.99 $230,798.44
0822011 DS SMITH PLC GB SMDS LN 2,230.65 $13,894.56
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,219.31 $506,116.25
09062X103 BIOGEN IDEC INC US BIIB 607.7 $214,707.32
0922320 SMITH & NEPHEW PLC GB SN/ LN 517.62 $9,443.80
09247X101 BLACKROCK INC US BLK 1,209.27 $569,963.92
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,048.01 $24,043.44
09627J102 BLUEROCK RESIDENTIAL GROWTH US 394.63 $3,867.40
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 215,057.11 $227,591.18
09857L108 BOOKING HOLDINGS INC US BKNG 468.33 $929,175.10
101121101 BOSTON PROPERTIES INC US BXP 215.27 $26,498.07
105368203 BRANDYWINE REALTY TRUST US BDN 1,095.23 $17,216.98
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,118.34 $255,666.77
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 331.41 $15,453.77
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 9,634.49 $9,538.14
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 13,568.43 $13,415.79
12503M108 CBOE GLOBAL MARKETS INC US CBOE 425.15 $40,797.35
125269100 CF INDUSTRIES HOLDINGS INC US CF 10,133.94 $551,691.84
12572Q105 CME GROUP INC US CME 262.21 $44,630.84
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 154,463.06 $154,663.86
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 25,261.02 $24,692.65
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 56,902.32 $52,637.13
13321L108 CAMECO CORP CA CCJ 800.25 $9,122.85
134429109 CAMPBELL SOUP CO US CPB 4,103.22 $150,300.83
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 550.06 $6,287.18
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 6,875.44 $6,858.25
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 72,618.01 $72,429.14
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 23,503.48 $21,865.29
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 10,973.16 $11,508.10
16411QAB7 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 14,296.92 $14,314.50
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 123,087.85 $121,617.26
165240102 CHESAPEAKE LODGING TRUST US CHSP 219.15 $7,028.24
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 160,254.73 $231,322.16
191216100 COCA COLA CO/THE US KO 5,044.41 $233,001.29
194162103 COLGATE-PALMOLIVE CO US CL 1,935.37 $129,573.21
19626G108 COLONY CAPITAL INC US CLNY 1,013.14 $6,170.04
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 294.81 $9,133.17
2162760 CAE INC CA CAE CN 254.75 $5,171.28
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 449.43 $14,683.51
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 61.73 $5,539.16
21871N101 CORECIVIC INC US CXW 528.31 $12,853.87
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 102,665.75 $113,588.32
222795106 COUSINS PROPERTIES INC US CUZ 1,906.68 $16,950.42
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 12,011.27 $11,735.01
22822V101 CROWN CASTLE INTL CORP US CCI 120.24 $13,386.32
228368106 CROWN HOLDINGS INC US CCK 1,489.28 $71,485.44
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 37,596.29 $34,494.07
229663109 CUBESMART US CUBE 232.26 $6,626.30
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 8,286.76 $8,473.21
23331A109 DR HORTON INC US DHI 54.36 $2,292.73
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 4,471.07 $50,918.93
23918K108 DAVITA INC. US DVA 6,183.77 $442,943.31
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 16,673.7 $15,902.54
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 2,400.4 $5,107.61
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,390.37 $15,031.03
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 5,950.93 $10,557.39
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,572.46 $191,449.17
253393102 DICK'S SPORTING GOODS INC US DKS 5,461.81 $193,785.03
253868103 DIGITAL REALTY TRUST INC US DLR 250.85 $28,215.91
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 159,016.24 $155,475.99
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 18,740.86 $18,975.12
2639349 GRUPO AEROPORT DEL SURESTE-B MX 465.43 $9,510.54
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 1,560.99 $4,492.62
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 25,261.02 $25,387.32
269246401 ETRADE FINANCIAL CORP US ETFC 6,344.61 $332,393.90
2715777 QUEBECOR INC -CL B CA QBR/B CN 11,686.64 $234,338.92
277276101 EASTGROUP PROPERTIES US EGP 42.65 $4,078.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 10,993.06 $214,218.53
285512109 ELECTRONIC ARTS US EA 3,637.96 $438,338.06
2866857 LUNDIN MINING CORP CA LUN CN 24,480.3 $129,636.73
294429105 EQUIFAX INC US EFX 1,981.25 $258,692.38
29444U700 EQUINIX INC US EQIX 931.1 $403,062.31
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 98.28 $9,479.56
29476L107 EQUITY RESIDENTIAL US EQR 391.51 $25,941.39
297178105 ESSEX PROPERTY TRUST INC US ESS 45.45 $11,212.92
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 190,417 $186,905.71
30225T102 EXTRA SPACE STORAGE INC US EXR 102.2 $8,854.65
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 12,582.15 $12,520.86
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 16,263.89 $16,589.17
30286XAN9 FREMF 2015-K43 B FLT 3.86212 02/25/2048 US 130,040.88 $126,461.80
30290HAE8 FREMF 2012-K708 FLT 3.88522 02/25/2045 US 24,769.69 $24,789.67
30291EAE4 FREMF 2013-K712 B FLT 3.47300 05/25/2045 US 83,597.71 $83,581.86
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 8,917,447.55 $31,031.83
30291XAE2 FREMF 2014-K715 B FLT 4.11905 02/25/2046 US 108,367.4 $109,632.34
30292HAU0 FREMF 2014- K503 B 3.08905 10/25/2047 US 77,405.29 $77,213.13
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 17,590.22 $19,000.90
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 10,941.29 $11,787.77
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 9,605.32 $10,632.02
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 695.38 $715.65
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,592.86 $1,640.94
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,086.84 $1,118.81
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 846.09 $873.44
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,497.05 $1,544.56
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 97,717.18 $101,303.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 15,993.78 $17,241.74
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 50,088.94 $52,332.94
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 53,623.08 $55,643.20
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 31,604.88 $32,711.05
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 45,930.9 $48,188.54
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 64,084.87 $64,772.49
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 73,293.48 $74,079.94
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 1,544.91 $1,558.58
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 54,379.4 $53,822.46
3137A2B34 FHMS K009 X1 FLT 1.44868 08/25/2020 US 911,960.44 $17,543.93
3137ADTK3 FHMS K014 X1 FLT 1.32335 04/25/2021 US 214,734.21 $5,329.02
3137AJMG6 FMHS K016 X1 FLT 1.66787 10/25/2021 US 261,822.84 $9,743.89
3137AL6W4 FHMS K706 X1 FLT 1.69370 10/25/2018 US 128,744.8 $15.50
3137AME78 FHMS K017 X1 FLT 1.48234 12/25/2021 US 1,792,495.46 $61,879.63
3137AUPF0 FHMS K021 x1 FLT 1.58570 06/25/2022 US 777,734.07 $34,528.83
3137B3NB0 FHMS K030 X1 FLT 0.31093 04/25/2023 US 2,912,377.34 $23,178.74
3137B4GZ3 FHMS K032 X1 FLT 0.21916 05/25/2023 US 1,869,643.86 $9,036.55
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 71,590.73 $72,664.21
3137FG2L8 FHLM POOL 4801 4.50000 05/15/2044 US 71,548.68 $73,737.28
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 15,044.03 $15,655.45
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 7,092.33 $7,379.12
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 96,804.32 $100,738.45
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 204,978.39 $218,436.28
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 39,046.09 $42,186.72
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 20,458.04 $22,096.92
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 127,091.91 $125,570.75
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 46,208.61 $46,713.19
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 106,803.51 $107,928.07
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 37,106.54 $38,302.30
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 106,360.72 $111,806.54
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 72,359.61 $76,060.89
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 83,222.94 $87,475.61
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 1,173.9 $1,205.70
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,437.65 $1,476.49
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 9,953.5 $10,143.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 12,018.77 $12,241.18
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 72,997.02 $77,251.17
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 36,759.47 $39,703.05
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 6,762.16 $7,264.81
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 501.3 $508.72
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 6,814.64 $6,945.51
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 81,808.3 $84,819.29
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 52,951 $54,901.80
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 35,064.4 $33,590.53
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,903.48 $3,196.04
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,101.09 $1,141.93
31428X106 FEDEX CORPORATION US FDX 1,957.1 $471,249.58
3174300 BURBERRY GROUP PLC GB BRBY LN 381.07 $10,006.66
32054K103 FIRST INDUSTRIAL REALTY TR US FR 230.6 $7,240.84
3208986 NEXT PLC GB NXT LN 67.73 $4,847.37
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 12,630.51 $11,809.53
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 13,258.81 $13,165.33
35671D857 FREEPORT-MCMORAN INC US FCX 10,679.63 $148,660.46
357081AE8 FREMF 2015-K720 B FLT 3.50676 07/25/2022 US 66,258.92 $64,523.23
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 128,127.14 $130,660.43
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 148,618.15 $148,428.39
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 24.13 $24.39
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 32,448.3 $31,733.39
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 3,114.67 $3,139.70
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 147,032.15 $146,976.72
371559105 GENESEE & WYOMING INC -CL A US GWR 3,827.27 $348,243.68
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 10,772.78 $10,180.28
374297109 GETTY REALTY CORP US GTY 267.2 $7,631.18
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 26,708.94 $26,575.39
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,741.59 $83,585.65
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 12,940.13 $12,616.63
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 121.74 $13,291.70
404121AH8 HCA INC 5.37500 09/01/2026 US 12,739.75 $12,867.15
40414L109 HCP INC US HCP 503.74 $13,258.55
4057808 L'OREAL FR OR FP 43.05 $10,379.84
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 16.59 $5,862.99
4163437 CAP GEMINI FR CAP FP 43.97 $5,535.11
421946104 HEALTHCARE REALTY TRUST INC US HR 321.27 $9,400.40
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 347.41 $9,265.34
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 89.12 $4,973.31
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 19,196.51 $20,492.28
44107P104 HOST MARRIOTT CORP US HST 876.89 $18,502.47
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 24,241.02 $23,635.00
4457624 TRIGANO SA FR TRI FP 162.04 $17,721.16
4497749 KBC GROEP NV BE KBC BB 145.79 $10,840.81
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 19,669.72 $19,374.68
45337C102 INCYTE CORP US INCY 16,751.24 $1,157,175.42
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 634.7 $6,683.42
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 12,256.93 $12,195.65
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 586.62 $43,932.17
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 162,649.62 $165,813.18
46120E602 INTUITIVE SURGICAL INC US ISRG 324.83 $186,453.00
46187BAA1 IHSFR 2017-SFR2 A 3.00844 12/17/2036 US 30,481.73 $30,557.87
46187BAB9 IHSFR 2017-SFR2 B 3.30844 12/17/2036 US 22,911.96 $22,968.67
46187W107 INVITATION HOMES INC US INVH 801.92 $18,372.06
464287739 ISHARES DJ US REAL ESTATE US 187.12 $14,973.11
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 223,945 $228,378.71
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 26,600.19 $25,443.69
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 31,803.3 $30,957.27
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 54,732.16 $53,909.05
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 71,318.35 $70,208.56
4741844 MERCK KGAA DE MRK GR 2,634.39 $272,186.55
476405105 JERNIGAN CAPITAL INC US JCAP 345.41 $6,663.01
478160104 JOHNSON & JOHNSON US JNJ 4,647.64 $642,163.84
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 23,503.48 $17,980.16
4800659 LUXOTTICA GROUP SPA IT LUX IM 83.4 $5,651.92
4821100 SOLVAY SA BE SOLB BB 179.62 $24,078.86
4824778 SGS SA-REG CH SGSN SW 2.39 $6,281.75
4846288 SAP AG DE SAP GR 46.78 $5,752.09
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 193,966.65 $235,122.26
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 19,961.23 $20,410.36
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 12,384.85 $12,183.55
50187T106 LGI HOMES INC US LGIH 38.41 $1,822.20
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 18,321.99 $18,001.36
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 16,564.45 $16,171.05
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 16,573.51 $17,360.75
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 2,533.09 $2,525.99
5048566 SWEDISH MATCH AB SE SWMA SS 90.47 $4,624.43
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 11,282.78 $11,437.92
5107401 BEIERSDORF AG DE BEI GR 1,798.51 $202,734.45
512816109 LAMAR ADVERTISING CO US LAMR 83.36 $6,485.36
5228658 RANDSTAD HOLDING NV NL RAND NA 264.14 $14,098.62
5253973 HERMES INTERNATIONAL FR RMS FP 16.6 $10,998.35
526057104 LENNAR CORP US LEN 40.29 $1,880.97
5263574 FLSMIDTH & CO A/S DK FLS DC 100.13 $6,226.49
5289837 ERSTE GROUP BANK AG AT EBS AV 219.12 $9,097.30
529043101 LEXINGTON REALTY TRUST US LXP 837.53 $6,951.49
531172104 LIBERTY PROPERTY TRUST US LPT 359.38 $15,183.86
53223X107 LIFE STORAGE INC US LSI 51.98 $4,946.32
5458314 AKZO NOBEL NL AKZA NA 2,021.2 $189,069.68
5474008 BANKINTER S.A. ES BKT SM 1,509.26 $13,863.79
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 2.39 $4,517.90
550021109 LULULEMON - ADR CA LULU 4,793.69 $778,927.25
554382101 THE MACERICH CO US MAC 106.33 $5,878.75
5545670 JUNGHEINRICH AG DE JUN3 GR 258.96 $9,855.61
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 72,477.97 $77,963.35
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 20,808.02 $20,469.89
5633616 SOPRA STERIA GROUP FR SOP FP 144.53 $23,167.17
5669354 REPSOL SA ES REP SM 1,219.25 $24,271.98
5671519 WOLTERS KLUWER NL WKL NA 79.37 $4,947.92
5699373 WIENERBERGER AG AT WIE AV 379.42 $9,485.16
5713422 METSO OYJ FI METSO FH 452.69 $16,021.65
5727973 SIEMENS AG-REG DE SIE GR 160.67 $20,543.94
57636Q104 MASTERCARD INC-CLASS A US MA 3,896.23 $867,339.44
5852842 ACCOR SA FR AC FP 284.59 $14,620.02
58933Y105 MERCK & CO INC US MRK 4,300.09 $305,048.05
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 9,944.11 $9,173.44
594918104 MICROSOFT CORP US MSFT 6,811.46 $779,027.19
59522J103 MID-AMERICA APARTMENT COMM US MAA 190.42 $19,076.55
5980613 GIVAUDAN - REG CH GIVN SW 1.56 $3,831.53
5999330 TELEPERFORMANCE FR TEP FP 24.28 $4,580.02
6054603 ASAHI KASEI CORP JP 3407 JP 311.25 $4,719.23
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,173.6 $437,057.78
6125286 TREND MICRO INC JP 4704 JP 147.34 $9,477.40
6129277 NTT DOCOMO INC JP 9437 JP 348.59 $9,369.18
6136749 OBIC CO LTD JP 4684 JP 95.43 $9,026.27
6141680 ORACLE CORP JAPAN JP 4716 JP 126.58 $10,198.59
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 227,460.07 $231,158.65
6180412 COMPUTERSHARE LTD AU CPU AU 391.77 $5,641.96
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 147.34 $9,471.44
6198578 REA GROUP LTD AU REA AU 78.33 $4,859.92
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 22,893.29 $23,351.16
6248990 KDDI CORP JP 9433 JP 379.73 $10,475.53
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 15,125.59 $14,180.24
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 14,981.6 $15,052.75
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 9,634.49 $9,225.02
62944T105 NVR INC US NVR .31 $765.01
6308913 ELBIT SYSTEMS LTD IL ESLT IT 36.42 $4,627.23
6353418 FRUTAROM IL FRUT IT 53.33 $5,532.83
6356934 FANUC LTD JP 6954 JP 44.48 $8,368.20
637417106 NATIONAL RETAIL PROPERTIES US NNN 166.48 $7,461.74
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 205.44 $10,374.15
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 10,144.48 $10,753.15
64110W102 NETEASE.COM INC- ADR CN NTES 50.87 $11,610.47
6441506 HOYA CORP JP 7741 JP 85.05 $5,051.35
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 85.18 $10,324.44
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 109.98 $10,259.39
6467104 ISUZU MOTORS LTD JP 7202 JP 305.06 $4,809.11
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 212.28 $15,710.52
6482903 KANAMOTO CO LTD JP 9678 JP 263.53 $9,343.36
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 37,353.69 $37,290.24
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 68,055.4 $67,896.15
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 118,828.92 $118,255.97
6483809 KAO CORP JP 4452 JP 58.1 $4,693.02
6490809 KIKKOMAN CORP JP 2801 JP 78.86 $4,696.64
6490995 KEYENCE CORP JP 6861 JP 212.31 $123,329.96
6518808 LION CORP JP 4912 JP 437.83 $9,724.01
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 5,063.07 $10,082.91
654106103 NIKE INC CLASS B US NKE 1,320.27 $111,853.05
6555805 MAKITA CORP JP 6586 JP 95.43 $4,778.95
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 197.06 $5,744.20
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 11,547.93 $9,970.35
6640507 NIPPON PAINT HOLDINGS CO LTD JP 4612 JP 132.77 $4,955.76
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 85.05 $4,492.51
6642387 YAMAHA CORP JP 7951 JP 273.92 $14,514.22
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 22,893.29 $23,408.39
66987V109 NOVARTIS AG- REG CH NVS 9,242.32 $796,318.61
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 9,288.63 $9,468.93
67091GAA1 OCI NV 6.62500 04/15/2023 NL 18,321.99 $18,963.26
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 370.28 $128,604.97
6742340 SHANDONG WEIGAO CN 1066 HK 2,178.11 $2,149.38
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 595.19 $10,367.73
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 675.63 $4,920.10
6791591 SECOM CO LTD JP 9735 JP 51.91 $4,229.86
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 263.53 $4,859.85
680665205 OLIN CORP US OLN 4,640.2 $119,160.43
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 55,731.81 $55,146.36
6865504 SUZUKI MOTOR CORP JP 7269 JP 226.2 $12,963.73
6883807 SYSMEX CORP JP 6869 JP 58.1 $5,009.98
6885074 TERUMO CORP JP 4543 JP 163.91 $9,701.01
69007J106 OUTFRONT MEDIA INC US OUT 257.8 $5,143.08
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 6,225.03 $11,030.52
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 17,493.32 $17,843.18
6948836 WESFARMERS LTD AU WES AU 134.46 $4,841.91
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 524.77 $14,639.60
6985383 ASTELLAS PHARMA INC JP 4503 JP 263.53 $4,602.10
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 222.01 $4,696.17
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 17,493.32 $17,077.85
7103065 NOVARTIS AG-REG CH NOVN SW 283.45 $24,398.95
7110902 TECAN GROUP AG-REG CH TECN SW 21.89 $5,182.37
7123870 NESTLE SA-REGISTERED CH NESN SW 2,822.83 $234,962.79
7145056 ENI SPA IT ENI IM 759.98 $14,325.29
7156036 SONOVA HOLDING AG-REG CH SOON SW 23.45 $4,653.79
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 122,626.98 $112,326.31
718172109 PHILIP MORRIS INTERNATIONAL US PM 1,603.21 $130,725.88
71943U104 PHYSICIANS REALTY TRUST US DOC 1,114.04 $18,782.74
7212477 ESSILORLUXOTTICA FR EL FP 74.39 $11,011.02
729640102 PLYMOUTH INDUSTRIAL REIT INC US 319.22 $4,947.87
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 13,777.86 $14,129.20
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 14,296.92 $14,473.91
7339451 ORPEA SA FR ORP FP 142.36 $18,416.70
7380062 AAREAL BANK AG DE ARL GR 239.6 $9,990.64
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 732.05 $31,552.10
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 238,005.31 $230,899.37
74340W103 PROLOGIS US PLD 560.5 $37,996.60
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 144,955.93 $153,290.90
74460D109 PUBLIC STORAGE INC US PSA 111.3 $22,440.98
74736K101 QORVO INC US QRVO 11,003.69 $846,074.08
758849103 REGENCY CENTERS CORP US REG 155.03 $10,025.67
75886F107 REGENERON PHARMACEUTICALS INC US REGN 951 $384,243.58
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 10,144.48 $10,423.46
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 410.55 $29,120.03
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 76.24 $7,322.53
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,430.92 $390,479.45
78442PGC4 SLM CORP 5.12500 04/05/2022 US 15,526.34 $15,448.71
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 177,601.76 $177,585.03
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 214,019.01 $231,140.07
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 147,032.15 $145,192.19
806857108 SCHLUMBERGER LTD NL SLB 9,161.45 $558,115.37
808513105 CHARLES SCHWAB CORP/THE US SCHW 13,537.28 $665,357.33
81211K100 SEALED AIR CORP US SEE 9,948.52 $399,433.09
812578102 SEATTLE GENETICS INC US SGEN 5,502.92 $424,385.03
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 9,634.49 $9,465.88
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 32,606.12 $30,870.10
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 45,522.47 $43,130.63
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 38,822.75 $34,409.95
81762P102 SERVICENOW INC US NOW 2,322.92 $454,432.35
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 12,839.94 $12,486.84
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 11,592.4 $11,954.66
828806109 SIMON PROPERTY GROUP INC US SPG 274.77 $48,564.78
83088M102 SKYWORKS SOLUTIONS INC US SWKS 2,879.84 $261,230.33
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 17,245.29 $17,079.96
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 13,932.95 $13,507.35
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,986.02 $40,618.74
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,684.22 $115,797.07
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 122,671.9 $126,408.29
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 18,531.43 $18,392.44
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 5,900.92 $5,937.50
85254J102 STAG INDUSTRIAL INC US STAG 354.62 $9,752.02
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.37844 11/15/2027 US 84,858.89 $84,890.14
866674104 SUN COMMUNITIES US SUI 189.28 $19,219.94
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 675.16 $11,045.65
874080104 TAL EDUCATION GROUP - ADR CN TAL 190.9 $4,908.12
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 9,425.05 $9,601.77
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 35,028.7 $34,932.26
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 15,007.29 $14,181.89
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 161,292.84 $152,665.72
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 9,115.43 $8,477.35
882508104 TEXAS INSTRUMENTS INC US TXN 2,855.41 $306,356.53
883556102 THERMO FISHER SCIENTIFIC INC US TMO 473.11 $115,476.63
88650V208 TIER REIT INC US TIER 676.39 $16,301.04
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 160,747.57 $156,195.87
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 138,116.5 $133,148.58
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 46,443.17 $44,426.67
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 1,466.03 $1,451.37
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,460.29 $19,995.45
902653104 UDR INC US UDR 545.45 $22,052.62
903002103 UMH PROPERTIES INC US UMH 354.11 $5,538.27
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 10,681.65 $10,668.30
90384S303 ULTA BEAUTY INC US ULTA 701.81 $197,994.89
904767704 UNILEVER PLC - ADR GB UL 10,019.56 $550,775.09
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 341,340.39 $447,035.91
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 532,373.86 $653,821.65
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 245,511.79 $230,371.89
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 296,617.06 $259,783.24
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 592,123.17 $570,288.63
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 1,057,788.38 $1,009,237.54
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 551,839.14 $538,021.60
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 900,618.58 $896,326.57
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,251,850.52 $1,235,501.48
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 383,930.22 $362,334.14
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 602,218.66 $544,772.65
912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 383,930.22 $383,431.63
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 238,370.21 $230,758.25
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 359,160.53 $345,004.55
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 889,560.76 $844,561.49
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 359,160.53 $340,066.09
91704F104 URBAN EDGE PROPERTIES US UE 693.93 $15,321.98
92276F100 VENTAS INC US VTR 141.88 $7,715.26
92339V100 VEREIT INC US VER 1,018.98 $7,397.81
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 215,876.73 $236,379.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,296.68 $249,922.21
92826C839 VISA INC - CLASS A SHARES US V 5,098.18 $765,185.12
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 23,531.21 $23,928.74
929042109 VORNADO REALTY TRUST US VNO 232.25 $16,954.12
92936CAE9 WFRBS 2011-C4 A3 4.39400 06/15/2044 US 1,292.53 $1,297.18
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 13,777.86 $14,242.87
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 10,973.16 $10,616.53
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 19,150.67 $18,241.01
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 37,154.54 $37,830.07
95040Q104 WELLTOWER INC. US WELL 184.49 $11,866.70
962166104 WEYERHAEUSER CO US WY 197.49 $6,373.04
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 12,630.51 $12,693.66
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 14,087.48 $13,981.83
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 115,396.45 $109,847.49
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 40,202.88 $40,170.15
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 44,807.83 $43,734.75
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 14,425.65 $500,858.66
AP0787667 MPC CONTAINER SHIPS FLT 7.11638 09/22/2022 NL 12,384.85 $12,651.49
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 24,641.78 $24,333.75
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 736.7 $4,699.15
B02J639 ADMIRAL GROUP PLC GB ADM LN 211.28 $5,727.34
B037JC2 NEXITY FR NXI FP 167.04 $9,231.96
B0386J1 JYSKE BANK-REG DK JYSK DC 221.08 $10,705.20
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 269.73 $4,737.32
B06JSP1 SYDBANK A/S DK SYDB DC 279.48 $8,216.62
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 23.45 $5,282.46
B09M9D2 KONE OYJ-B FI KNEBV FH 193.18 $10,311.70
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 253.15 $9,835.24
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 39.01 $9,735.49
B138HB7 KAUFMAN & BROAD SA FR KOF FP 294.75 $13,832.12
B13X013 EIFFAGE FR FGR FP 167.15 $18,671.73
B15C557 TOTAL SA FR FP FP 368.42 $23,954.96
B19NLV4 EXPERIAN PLC GB EXPN LN 215.65 $5,533.50
B1CRLC4 MONDI PLC GB MNDI LN 200.81 $5,498.19
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,466.1 $29,069.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,149.93 $8,218.65
B1WGG93 GEBERIT AG-REG CH GEBN SW 30.61 $14,205.57
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 275.95 $16,155.82
B1XH026 VINCI SA FR DG FP 2,238.9 $213,008.70
B1Y9TB3 DANONE FR BN FP 265.09 $20,601.84
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 2,116.29 $10,102.83
B232R05 SK INNOVATION CO LTD KR 096770 KS 60.16 $11,660.63
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 263.35 $10,799.68
B283W97 CAIXABANK S.A ES CABK SM 32,197.86 $146,433.26
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 1,235.52 $2,534.84
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 47.72 $4,938.90
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,008.18 $20,230.46
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 56.96 $5,279.52
B3NB1P2 SUNCOR ENERGY INC CA SU CN 347.37 $13,441.27
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 77,405.29 $4,009.99
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,819.84 $25,817.56
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 191,965.11 $9,844.14
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 22,887.64 $19,273.49
B4R2R50 JULIUS BAER CH BAER SW 3,090.71 $154,461.84
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 57,063.38 $17,015.52
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 57,279.91 $42,089.35
B4YVF56 BRENNTAG AG DE BNR GR 137.71 $8,492.78
B607XS1 VERMILION ENERGY INC CA VET CN 495.73 $16,334.22
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 297,236.3 $15,935.04
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,659.46 $20,945.63
B63QM77 NEXON CO LTD JP 3659 JP 1,406.73 $18,388.13
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 92,886.34 $4,856.51
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 102.4 $5,616.47
B7VQL46 FNAC DARTY SA FR FNAC FP 167.46 $13,204.74
B8FMRX8 COLOPLAST-B DK COLOB DC 100.32 $10,248.59
BB22L96 KION GROUP AG DE KGX GR 227.84 $13,989.49
BBG00LNRP8L0 AMZN US 09/28/18 P1825 US -.62 -$0.62
BBG00LRS8WH5 QRVO US 10/19/18 P70 US -16.66 -$566.36
BBG00LXHFRM9 SCHW US 10/26/18 C51.5 US -17.03 -$1,294.22
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 14,027.26 $7,364.61
BD6G507 FERRARI NV IT RACE IM 39.84 $5,472.25
BD6K457 COMPASS GROUP PLC GB CPG LN 252.57 $5,615.53
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 20,762.18 $21,229.33
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 13,357.07 $7,026.17
BDZV116 EPIROC AB-A SE EPIA SS 1,526.63 $17,057.19
BF2DSG3 SIKA AG-REG CH SIKA SW 32.16 $4,680.38
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 23,703.86 $22,281.62
BFYFZP5 FERGUSON PLC CH FERG LN 66.57 $5,646.81
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 111 $22,359.89
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,547.7 $7,497.74
BGLP232 MONCLER SPA IT MONC IM 235.1 $10,115.57
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 20,190.37 $15,766.11
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 106.34 $5,005.03
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 14,600.34 $596,143.96
BNBNSG0 EURONEXT NV NL ENX FP 256.26 $16,837.56
BNGN9Z1 FINECOBANK SPA IT FBK IM 12,204.8 $162,749.66
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,572.17 $349,613.05
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 290.49 $9,702.77
BVSS790 ELIS SA FR ELIS FP 819.33 $19,290.56
BYQ32R1 NEMAK SAB DE CV MX 12,224.04 $9,210.16
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 20,252.29 $9,758.40
BYXS699 QIAGEN N.V. NL QIA GR 310.34 $11,753.24
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 368.63 $10,751.52
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 7,078.17 $619,591.03
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 10,779.04 $8,137.65
BYZFYS3 SPIE SA FR SPIE FP 1,059.91 $21,108.15
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 219.64 $14,887.90
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 255.54 $9,592.54
BZ3C3Q4 BANKIA SA ES BKIA SM 23,366.82 $91,217.33
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 31,183.16 $9,232.36
G02602103 AMDOCS LTD GG DOX 2,967.93 $195,823.76
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 4,171.49 $121,640.71
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 172.76 $8,959.52
G27358103 DESPEGAR.COM CORP AR DESP 225.3 $3,800.77
G3157S106 ENSCO INTERNATIONAL INC US ESV 28,486.06 $240,422.37
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 22,774.99 $23,685.99
G5960L103 MEDTRONIC INC IE MDT 8,995.57 $884,893.91
G97822103 PERRIGO CO PLC IE PRGO 2,500.35 $177,024.74
H8817H100 TRANSOCEAN LTD US RIG 20,968.85 $292,515.51
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 79.68 $9,375.91
N22717107 CORE LABORATORIES N.V. NL CLB 93.77 $10,861.05
N47279109 INTERXION HOLDING NV NL INXN 4,588.16 $308,783.11
N59465109 MYLAN NV US MYL 1,773.48 $64,909.40
N72482123 QIAGEN N.V. ADR NL QGEN 3,799.35 $143,919.48
USD US DOLLAR US 388,652 $388,652.00

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.


Loading...