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 investments 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 55% - 85%.

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 2040
  • Who have time to pursue growth and can accept 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

$24.67

Daily $ Change

$0.39

Daily % Change

1.58%

as of 04/02/2020

CUSIP

563821156

Inception Date

01/06/2005

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

-3.11%

1 Year

10.80%

3 Year

8.83%

5 Year

5.79%

10 Year

8.11%

Inception
(01/01/2000)

6.91%

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

7.05%

Performance through the inception date of the Retirement Target CIT Class S Units 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. 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 0.89%
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 02/29/2020

TREASURY NOTES 7.40%
GOVERNMENT AGENCY 4.33%
TREASURY BONDS 3.49%
FACEBOOK INC -A 2.04%
NEXON CO LTD 1.89%
JOHNSON & JOHNSON 1.79%
MASTERCARD INC-CLASS A 1.77%
MICRON TECHNOLOGY INC 1.65%
COCA COLA CO/THE 1.63%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.59%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Stocks 65.10%
Bonds 33.72%
Cash 1.18%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities 21.78%
Small Capitalization 1.68%
Mid Capitalization 2.23%
Large Capitalization 39.41%
Long Term Fixed Income 10.09%
Intermediate Term Fixed Income 17.09%
Short Term Fixed Income 6.54%
Cash 1.18%

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 6,545.03 $6,824.63
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 258,164.77 $290,960.62
00287Y109 ABBVIE INC US ABBV 386.31 $33,110.85
004239109 ACADIA REALTY TRUST US AKR 520.97 $11,898.95
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 6,545.03 $6,395.80
00507V109 ACTIVISION INC US ATVI 12,621.59 $733,693.04
00751Y106 ADVANCE AUTO PARTS INC US AAP 2,206.49 $293,419.12
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 236,968.78 $261,313.97
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 7,241.96 $7,622.16
008492100 AGREE REALTY CORP US ADC 140.37 $10,081.62
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 137,585.74 $145,931.14
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 52.64 $7,995.04
01609W102 ALIBABA GROUP - ADR CN BABA 2,279.37 $474,109.52
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 193,835.73 $208,789.61
020002101 ALLSTATE CORPORATION US ALL 92.52 $9,737.33
02079K107 ALPHABET INC-CL C US GOOG 437.32 $585,714.26
02079K305 ALPHABET INC-CL A US GOOGL 438.02 $586,612.64
02209S103 ALTRIA GROUP INC US MO 5,988.75 $241,765.73
023135106 AMAZON.COM INC US AMZN 495.89 $934,125.61
02319V103 AMBEV SA-ADR BR ABEV 89,457.9 $287,159.86
0237400 DIAGEO PLC GB DGE LN 14,301.98 $510,288.71
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 511.78 $22,231.78
0263494 BAE SYSTEMS PLC GB BA/ LN 10,447.11 $82,637.53
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,148.89 $29,744.80
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 18,521.53 $19,264.14
03027X100 AMERICAN TOWER REIT INC US AMT 2,992.02 $678,590.71
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 267,633.84 $294,831.13
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 4,048.4 $4,073.14
03064D108 AMERICOLD REALTY TRUST US COLD 684.74 $21,001.08
031162100 AMGEN INC US AMGN 169.35 $33,824.46
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 6,545.03 $4,450.62
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 7,798.74 $5,342.14
03748R754 APARTMENT INVT & MGMT CO -A US AIV 614.66 $29,405.45
038222105 APPLIED MATERIALS INC US AMAT 235.02 $13,659.17
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 173.64 $6,537.61
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 7,658.58 $7,792.61
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 7,798.74 $8,052.20
053332102 AUTOZONE INC US AZO 273.2 $282,079.49
053484101 AVALONBAY COMMUNITIES INC US AVB 227.69 $45,672.29
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 147,058.65 $148,042.92
055622104 BP PLC-SPONS ADR GB BP 5,039.1 $157,673.48
05722G100 BAKER HUGHES CO US BKR 298.28 $4,799.29
060505104 BANK OF AMERICA CORP US BAC 1,243.41 $35,437.09
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 402,147.7 $438,719.68
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 6,117.03 $1,262,187.68
086516101 BEST BUY INC US BBY 123.19 $9,319.22
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 6,553.15 $592,208.10
09247X101 BLACKROCK INC US BLK 1,149.24 $532,110.96
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,159.28 $53,362.17
097023105 BOEING CO US BA 118.51 $32,603.53
09857L108 BOOKING HOLDINGS INC US BKNG 249.36 $422,823.27
101121101 BOSTON PROPERTIES INC US BXP 254.07 $32,759.19
101137107 BOSTON SCIENTIFIC CORP US BSX 6,504.48 $243,202.43
105368203 BRANDYWINE REALTY TRUST US BDN 1,823.32 $24,760.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 427.86 $25,269.19
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 831.67 $33,100.38
11135F101 BROADCOM INC US AVGO 85.69 $23,361.68
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 7,798.74 $4,133.33
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 6,545.03 $6,618.66
12503M108 CBOE GLOBAL MARKETS INC US CBOE 4,926.07 $561,572.16
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 80.71 $5,560.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 44,323.71 $45,605.55
12572Q105 CME GROUP INC US CME 2,942.49 $585,026.30
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 77,965.19 $77,924.46
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 6,545.03 $6,185.05
126650100 CVS HEALTH CORP US CVS 354.41 $20,974.16
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 10,166.01 $10,725.14
133131102 CAMDEN PROPERTY TRUST US CPT 342.44 $36,291.78
13321L108 CAMECO CORP CA CCJ 5,615.07 $48,738.84
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 6,545.03 $6,487.76
149123101 CATERPILLAR INC US CAT 144.61 $17,966.73
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 56,636.61 $57,466.55
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 6,545.03 $6,557.30
166764100 CHEVRON CORP US CVX 1,788.71 $166,957.93
17275R102 CISCO SYSTEMS INC US CSCO 841.76 $33,611.60
172967424 CITIGROUP INC US C 356.86 $22,646.56
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 113,333.23 $196,204.63
191216100 COCA COLA CO/THE US KO 24,849.42 $1,329,195.26
194162103 COLGATE-PALMOLIVE CO US CL 270.2 $18,257.16
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 207,759.03 $224,518.43
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 411.37 $19,593.78
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 9,609.23 $10,185.78
205887102 CONAGRA BRAND INC. US CAG 186.95 $4,989.59
20825C104 CONOCOPHILLIPS US COP 2,833.55 $137,200.66
222795502 COUSINS PROPERTIES INC US CUZ 816.4 $29,137.16
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 6,545.03 $6,741.38
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 103,560.8 $104,090.71
22822V101 CROWN CASTLE INTL CORP US CCI 134.53 $19,276.14
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 136,522.11 $143,885.24
228368106 CROWN HOLDINGS INC US CCK 3,955.1 $278,834.28
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 52,875.57 $51,993.91
231021106 CUMMINS INC US CMI 67.14 $10,157.58
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,224.08 $16,437.22
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 10,166.01 $8,200.41
253868103 DIGITAL REALTY TRUST INC US DLR 41.92 $5,034.74
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 252,036.36 $297,131.10
256677105 DOLLAR GENERAL CORP US DG 3,419.85 $514,003.66
256746108 DOLLAR TREE STORES INC US DLTR 8,482.2 $704,277.00
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 12,533.28 $12,874.18
25960P109 DOUGLAS EMMETT INC US DEI 535.04 $20,427.72
260557103 DOW INC US DOW 199.64 $8,067.27
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 50,148.47 $52,357.51
2715777 QUEBECOR INC -CL B CA QBR/B CN 17,269.69 $403,484.89
277432100 EASTMAN CHEM CO US EMN 79.34 $4,880.33
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 22,756.73 $393,845.21
285512109 ELECTRONIC ARTS US EA 8,980.47 $910,350.62
2866857 LUNDIN MINING CORP CA LUN CN 20,280.2 $103,497.40
291011104 EMERSON ELEC CO US EMR 218.91 $14,034.42
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 177,124.69 $213,456.85
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 10,166.01 $10,572.85
29444U700 EQUINIX INC US EQIX 1,304.97 $747,484.58
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 204.01 $13,940.23
29476L107 EQUITY RESIDENTIAL US EQR 308.6 $23,175.66
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 706.26 $16,180.46
297178105 ESSEX PROPERTY TRUST INC US ESS 63.42 $17,970.52
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 342,418.78 $345,741.77
30225T102 EXTRA SPACE STORAGE INC US EXR 73.53 $7,379.40
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 233,846.97 $251,233.68
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 15,487,872.94 $36,749.63
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 194,872.48 $197,923.19
30303M102 FACEBOOK INC -A US FB 8,625.29 $1,660,109.01
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,700.37 $18,993.14
311900104 FASTENAL CO US FAST 256.39 $8,773.50
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 26,136.97 $30,143.96
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 15,280.83 $17,577.75
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 10,461.48 $11,954.47
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 582.85 $604.59
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,141.53 $1,168.25
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 779.44 $800.35
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 721.67 $748.28
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,197.43 $1,239.65
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 122,959.28 $133,259.89
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 22,556.25 $25,943.49
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 85,774.47 $93,482.87
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 110,430.52 $115,141.82
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 51,345.85 $55,307.33
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 60,598.27 $65,116.81
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 96,936.73 $103,649.31
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 25.54 $25.56
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 119,822.61 $124,227.25
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 145,444.4 $154,775.23
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 81,538.82 $86,993.58
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 51.94 $6,043.12
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 1,380,783.57 $4,881.07
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 374,709.73 $3,775.31
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 427,805.7 $8,719.92
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 2,857,290.17 $51,074.35
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 1,342,541.16 $36,785.36
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 5,030,783.3 $26,404.07
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 3,234,806.72 $11,701.27
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 82,699.07 $84,841.13
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 63,795.71 $65,417.14
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 20,650.21 $22,781.25
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 9,733.17 $10,733.87
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 140,144.61 $154,195.34
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 286,343.69 $327,183.51
3138WGK37 FEDERAL NATL MTG ASSN FN AS6613 4.00000 02/01/2046 US 303,911.71 $326,866.30
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 53,531.35 $61,574.36
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 28,485.04 $32,717.80
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 147,651.65 $156,183.66
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 138,258.8 $147,717.84
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 55,493.82 $59,283.04
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 109,196.99 $113,924.62
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 85,932 $93,350.74
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 96,054.62 $104,091.70
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 229,069.76 $239,982.67
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 746.73 $762.30
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 877.66 $895.78
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 4,819.37 $4,878.22
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5,662.05 $5,723.78
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 51,690.06 $59,177.09
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 10,231.62 $11,760.80
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 91.96 $92.65
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 3,204.59 $3,242.99
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 80,727.73 $87,944.52
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 205,744.49 $216,929.13
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 52,434.44 $54,977.88
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 57,328.65 $60,089.80
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 83,382.68 $88,000.34
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 277,339.78 $287,928.99
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,983.91 $4,682.65
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,154.73 $1,216.98
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 9,469.08 $10,510.67
316067107 FIDELITY CASH RESERVES US 10,307.36 $10,307.36
316773100 FIFTH THIRD BANCORP US FITB 296.45 $7,233.29
32054K103 FIRST INDUSTRIAL REALTY TR US FR 265.02 $10,203.15
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 10,722.79 $10,769.75
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 3,858.92 $196,997.83
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 108,015.03 $114,496.13
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,609.23 $9,441.07
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 4,874.69 $5,106.24
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 10,166.01 $10,569.60
35671D857 FREEPORT-MCMORAN INC US FCX 13,774.19 $137,190.92
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 119,150.6 $123,040.55
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 16.25 $16.31
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 58,350.39 $58,600.51
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 1,858.28 $1,867.79
364760108 GAP INC US GPS 210.05 $3,009.99
369550108 GENERAL DYNAMICS CORP US GD 67.86 $10,836.96
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 190,744.64 $186,733.28
370334104 GENERAL MLS INC US GIS 247.02 $12,103.77
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 9,609.23 $8,263.94
372460105 GENUINE PARTS CO US GPC 81.29 $7,091.91
374297109 GETTY REALTY CORP US GTY 299.27 $8,481.27
375558103 GILEAD SCIENCES INC US GILD 381.5 $26,460.52
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 22,271.14 $22,950.41
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 15,040.7 $14,815.09
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 155,675.28 $160,310.16
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 39,130.96 $529,050.60
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 8,355.52 $8,480.60
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 6,545.03 $6,547.45
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 305.45 $33,104.74
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 189.85 $31,704.62
404119BX6 HCA INC 4.12500 06/15/2029 US 200,517.07 $220,026.39
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 3,620.98 $3,657.19
406216101 HALLIBURTON CO US HAL 25,589.52 $433,998.18
416515104 HARTFORD FINL SVCS US HIG 122.52 $6,119.90
421946104 HEALTHCARE REALTY TRUST INC US HR 599.37 $20,558.53
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 372.1 $11,587.22
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 978.85 $30,970.91
427866108 HERSHEY CO/THE US HSY 86.61 $12,471.16
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 87.32 $8,487.15
437076102 HOME DEPOT INC US HD 231.11 $50,344.66
438516106 HONEYWELL INTERNATIONAL INC US HON 173.95 $28,209.21
44107P104 HOST MARRIOTT CORP US HST 721.51 $10,447.47
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 10,722.79 $10,987.64
452308109 ILLINOIS TOOL WKS INC US ITW 96.81 $16,242.52
45337C102 INCYTE CORP US INCY 2,956.65 $222,961.10
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 10,722.79 $10,977.45
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 163.49 $15,031.35
458140100 INTEL CORP US INTC 943.17 $52,364.75
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 6,393.27 $570,407.85
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 228.47 $29,734.98
460146103 INTERNATIONAL PAPER CO US IP 143.89 $5,318.16
46120E602 INTUITIVE SURGICAL INC US ISRG 241.84 $129,130.66
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 50,951.18 $50,669.69
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 41,201.61 $41,111.16
46187W107 INVITATION HOMES INC US INVH 1,633.48 $46,864.57
46625H100 JP MORGAN CHASE & CO US JPM 486.99 $56,544.90
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 36,959.77 $37,854.31
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 44,582.57 $45,990.98
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 74,460.06 $75,774.25
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 200,517.07 $217,391.33
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 76,724.39 $78,499.72
4741844 MERCK KGAA DE MRK GR 6,504.21 $791,458.09
476405105 JERNIGAN CAPITAL INC US JCAP 1,320.04 $23,655.17
478160104 JOHNSON & JOHNSON US JNJ 10,797.97 $1,452,110.50
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 14,900.55 $3,576.13
482480100 KLA-TENCOR CORPORATION US KLAC 70.87 $10,893.76
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 9,609.23 $10,089.69
487836108 KELLOGG CO US K 133.66 $8,082.55
493267108 KEYCORP US KEY 406.99 $6,654.28
49427F108 KILROY REALTY CORP US KRC 88.4 $6,425.93
494368103 KIMBERLY CLARK CORP US KMB 121.82 $15,982.13
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 214,720.68 $287,786.72
500255104 KOHLS CORP US KSS 88.84 $3,478.05
501044101 KROGER CO US KR 247.41 $6,959.64
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,343.77 $14,971.31
5107401 BEIERSDORF AG DE BEI GR 3,718.79 $392,696.88
512807108 LAM RESEARCH CORP US LRCX 40.17 $11,787.60
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,609.23 $6,893.42
53223X107 LIFE STORAGE INC US LSI 65.73 $7,092.99
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 5,567.79 $6,708.29
539830109 LOCKHEED MARTIN CORP US LMT 70.95 $26,243.73
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 6,545.03 $4,270.63
550021109 LULULEMON - ADR CA LULU 3,966.71 $862,402.82
56585A102 MARATHON PETROLEUM CORP US MPC 257.94 $12,231.63
57636Q104 MASTERCARD INC-CLASS A US MA 4,967.15 $1,441,715.35
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 116.03 $6,453.59
58933Y105 MERCK & CO INC US MRK 3,653.95 $279,746.73
594918104 MICROSOFT CORP US MSFT 6,881.62 $1,114,891.56
595112103 MICRON TECHNOLOGY INC US MU 25,514.66 $1,341,050.73
59522J103 MID-AMERICA APARTMENT COMM US MAA 106.25 $13,734.45
60871R209 MOLSON COORS BREWING CO -B US TAP 93.1 $4,618.71
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 23,967.84 $1,265,501.91
615369105 MOODY'S CORPORATION US MCO 2,293.25 $550,447.89
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 6,545.03 $3,826.88
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 14,900.55 $14,523.56
6356934 FANUC LTD JP 6954 JP 150.45 $24,705.23
637417106 NATIONAL RETAIL PROPERTIES US NNN 234.79 $11,939.15
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 10,166.01 $10,264.62
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 6,545.03 $6,905.00
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 95,277.81 $93,765.80
64110D104 NETAPP INC US NTAP 86.92 $4,060.89
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 47,547.92 $50,332.09
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 91,279.26 $96,415.97
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 163,973.03 $172,571.94
6490995 KEYENCE CORP JP 6861 JP 147.64 $47,143.01
654106103 NIKE INC CLASS B US NKE 6,229.89 $556,827.23
6642321 NIKON CORP JP 7731 JP 1,718.83 $17,557.49
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 14,900.55 $11,324.41
66987V109 NOVARTIS AG- REG CH NVS 11,836.25 $993,771.86
670346105 NUCOR CORP US NUE 155.87 $6,445.22
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 7,101.81 $7,244.55
67066G104 NVIDIA CORP US NVDA 1,931.57 $521,658.71
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 9,609.23 $9,621.94
6742340 SHANDONG WEIGAO CN 1066 HK 46,021.4 $60,052.29
674599105 OCCIDENTAL PETROLEUM CORP US OXY 189.62 $6,208.21
675232102 OCEANEERING INTL INC US OII 24,341.1 $256,555.21
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 10,166.01 $9,479.80
681936100 OMEGA HEALTHCARE INVS INC US OHI 340.07 $13,466.88
6821506 SONY CORP FIRST SECTION JP 6758 JP 1,044.63 $64,399.34
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 89,084.56 $90,594.26
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 87,452.68 $90,501.80
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,903.77 $456,917.73
70450Y103 PAYPAL HOLDINGS INC US PYPL 4,557.87 $492,204.17
7123870 NESTLE SA-REGISTERED CH NESN SW 8,697.1 $894,981.81
713448108 PEPSICO INC US PEP 7,344.71 $969,721.55
717081103 PFIZER INC US PFE 1,208.16 $40,376.59
718172109 PHILIP MORRIS INTERNATIONAL US PM 4,939.17 $404,369.51
718546104 PHILLIPS 66 US PSX 121.35 $9,084.50
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 10,166.01 $9,632.29
71943U104 PHYSICIANS REALTY TRUST US DOC 1,222.42 $23,054.93
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 449.97 $8,445.99
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 355,036.55 $388,787.93
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 6,545.03 $6,774.10
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 6,545.03 $6,739.42
74340E103 PROGYNY INC US PGNY 5,359.42 $147,544.74
74340W103 PROLOGIS US PLD 861.69 $72,623.08
74460D109 PUBLIC STORAGE INC US PSA 152.49 $31,888.73
74834L100 QUEST DIAGNOSTICS INC US DGX 61.54 $6,526.79
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 10,722.79 $11,366.15
756109104 REALTY INCOME CORP US O 154.3 $11,169.82
758849103 REGENCY CENTERS CORP US REG 214.46 $12,318.56
7591EP100 REGIONS FINANCIAL CORP. US RF 366.32 $4,952.59
76131D103 RESTAURANT BRANDS INTERN CA QSR 1,293.73 $75,683.02
7698356 GETINGE AB-B SHS SE GETIB SS 2,353.28 $39,464.94
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 10,722.79 $10,755.71
773903109 ROCKWELL AUTOMATION INC US ROK 38.14 $6,998.57
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,508.53 $156,235.03
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 6,379.42 $457,276.90
78409V104 S&P GLOBAL INC US SPGI 1,920.85 $510,773.64
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,837.81 $752,275.62
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,343.77 $14,630.64
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 117,480.26 $118,067.67
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 302,449.78 $351,074.42
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 266,520.29 $296,250.71
806857108 SCHLUMBERGER LTD NL SLB 14,986.52 $405,984.87
81141R100 SEA LTD - ADR SG SE 4,498.63 $202,708.23
812578102 SEATTLE GENETICS INC US SGEN 1,290.72 $146,961.42
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 48,879.23 $49,721.88
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 66,342.09 $67,921.23
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 55,105.48 $53,963.87
81762P102 SERVICENOW INC US NOW 2,457.09 $801,230.88
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 11,419.72 $9,478.37
828806109 SIMON PROPERTY GROUP INC US SPG 263.48 $32,429.01
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 58.36 $6,010.73
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 4,282.1 $4,283.50
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 25,055.03 $25,611.93
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 74,051.54 $76,766.89
835699307 SONY CORP SPONSORED ADR JP SNE 14,948.76 $929,813.09
84265V105 SOUTHERN COPPER CORPORATION US SCCO 5,670.95 $190,827.32
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 243,104.87 $243,469.52
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 16,154.26 $16,477.34
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,545.03 $6,946.57
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,609.23 $10,902.44
85254J102 STAG INDUSTRIAL INC US STAG 622.21 $17,409.53
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 10,166.01 $10,077.06
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 148,048.79 $147,291.46
862121100 STORE CAPITAL CORP US STOR 571.8 $18,789.35
866674104 SUN COMMUNITIES US SUI 224.21 $34,277.07
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 6,545.03 $5,890.52
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 592.56 $6,488.49
871829107 SYSCO CORP US SYY 189.38 $12,622.23
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 34,271.97 $34,379.32
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 8,912.3 $6,238.61
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 199,123.2 $225,811.67
882508104 TEXAS INSTRUMENTS INC US TXN 237.33 $27,088.42
883556102 THERMO FISHER SCIENTIFIC INC US TMO 870.47 $253,132.56
88579Y101 3M CO US MMM 161.38 $24,084.37
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,735.83 $161,163.89
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 199,931.42 $202,521.63
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 110,706.65 $113,004.63
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 97,546.55 $98,073.95
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 5,848.09 $5,906.58
89417E109 TRAVELLERS COS INC US TRV 69.28 $8,300.87
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 241,348.95 $243,389.60
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 83,280.52 $85,880.92
89832Q109 TRUIST FINANCIAL CORP US TFC 395.28 $18,238.44
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 16,711.04 $15,875.48
902494103 TYSON FOODS INC -CL A US TSN 104.05 $7,057.79
902653104 UDR INC US UDR 380.71 $17,124.34
902973304 U.S. BANCORP US USB 448.61 $20,833.46
903002103 UMH PROPERTIES INC US UMH 478.64 $6,945.00
904767704 UNILEVER PLC - ADR GB UL 16,173.7 $872,247.75
907818108 UNION PAC CORP US UNP 174.14 $27,829.80
911312106 UNITED PARCEL SERVICE US UPS 259.53 $23,484.82
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 712,676.49 $709,543.28
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 218,837.04 $218,514.74
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 786,206.81 $895,977.48
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 336,693.24 $386,945.87
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,148,791.55 $1,340,182.02
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,158,264.46 $1,493,572.98
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 428,875.81 $443,785.36
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,290,360.63 $1,293,167.98
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,803,899.66 $1,902,761.83
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 1,775,077.35 $1,781,741.10
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 2,257,180.06 $2,335,916.84
913017109 UNITED TECHNOLOGIES CORP US UTX 205.73 $26,866.74
91324P102 UNITEDHEALTH GROUP INC US UNH 1,022.4 $260,671.37
91336L107 UNIVAR SOLUTIONS INC US UNVR 13,194.34 $224,171.84
91704F104 URBAN EDGE PROPERTIES US UE 689.47 $11,169.48
918204108 VF CORP US VFC 139.6 $10,050.91
91913Y100 VALERO ENERGY US VLO 153.2 $10,149.23
92276F100 VENTAS INC US VTR 323.03 $17,369.15
92339V100 VEREIT INC US VER 1,330.63 $11,523.22
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 333,917.37 $446,069.78
92511U102 VERRA MOBILITY CORP US VRRM 39,554.45 $599,052.08
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 654.42 $146,609.78
92556H206 VIACOMCBS INC US VIAC 114.94 $2,828.65
92826C839 VISA INC - CLASS A SHARES US V 6,653.13 $1,209,273.50
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 11,279.57 $10,546.39
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 42,315.17 $42,343.36
929042109 VORNADO REALTY TRUST US VNO 79.38 $4,253.04
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 126,388.72 $126,393.23
931142103 WAL MART STORES US WMT 540.4 $58,190.44
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 273.29 $12,505.78
94106L109 WASTE MANAGEMENT INC US WM 143.25 $15,873.05
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,609.23 $9,993.60
949746101 WELLS FARGO COMPANY US WFC 961.95 $39,295.84
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 54,408.59 $54,663.18
95040Q104 WELLTOWER INC. US WELL 384.61 $28,776.40
958102105 WESTERN DIGITAL CORP US WDC 118.92 $6,607.40
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 10,166.01 $5,845.45
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 205,251.61 $215,403.97
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 32,885.12 $32,926.90
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 56,321.56 $58,033.22
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 246.35 $12,551.61
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 16,154.26 $15,508.09
B02J639 ADMIRAL GROUP PLC GB ADM LN 2,694.21 $73,945.71
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 4,816.52 $31,530.17
B1Y47Y7 GERRESHEIMER AG DE GXI GR 674.02 $48,588.80
B1Y9TB3 DANONE FR BN FP 1,153.8 $81,433.48
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 139,194.63 $7,052.23
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 59,018.52 $45,521.98
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 345,202.67 $17,481.82
B4YVF56 BRENNTAG AG DE BNR GR 6,290.93 $285,437.82
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 534,507.36 $27,230.47
B63QM77 NEXON CO LTD JP 3659 JP 96,938.99 $1,532,987.88
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 167,033.55 $9,080.64
B7KR2P8 EASY JET PLC GB EZJ LN 32,825.45 $473,847.69
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -12.81 -$7,235.34
BBG00RBW6Q94 MU US 02/28/20 C60 US -24.28 -$24.28
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -.89 -$17.82
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -23.5 -$8,223.62
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -13.59 -$7,227.43
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -26.5 -$3,153.82
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 958.83 $19,267.65
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 573.76 $7,142.48
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,129.62 $9,628.13
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 726.55 $32,172.20
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 1,384.54 $17,863.27
BJ2KSG2 AKZO NOBEL NL AKZA NA 587.78 $47,028.77
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,111.37 $1,121,150.43
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 11,494.86 $49,793.46
BNGN9Z1 FINECOBANK SPA IT FBK IM 21,516 $225,767.36
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 16,411.59 $512,023.53
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,297.62 $15,471.11
BYXS699 QIAGEN N.V. NL QIA GR 1,283.63 $47,046.32
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 10,402.52 $601,066.88
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 9,677.37 $18,291.87
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 7,153.32 $178,260.80
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,503.1 $41,605.93
G29183103 EATON CORP PLC US ETN 160.21 $14,534.58
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 302.9 $11,077.14
G5960L103 MEDTRONIC INC IE MDT 10,939.34 $1,101,263.09
G97822103 PERRIGO CO PLC IE PRGO 978.94 $49,622.45
H01301128 ALCON INC CH ALC 8,500.92 $521,106.28
H1467J104 CHUBB LTD CH CB 99.93 $14,492.55
N22717107 CORE LABORATORIES N.V. NL CLB 6,387.25 $171,433.76
N47279109 INTERXION HOLDING NV NL INXN 500.5 $42,487.26
N53745100 LYONDELLBASELL INDU-CL A US LYB 149.02 $10,648.67
N72482123 QIAGEN N.V. ADR NL QGEN 5,121.76 $183,871.27
USD US DOLLAR US 964,066.67 $964,066.67

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

$24.67

Daily $ Change

$0.39

Daily % Change

1.58%

as of 04/02/2020

CUSIP

563821156

Inception Date

01/06/2005

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 investments 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 55% - 85%.

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 2040
  • Who have time to pursue growth and can accept 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 02/29/2020

YTD

-3.11%

1 Year

10.80%

3 Year

8.83%

5 Year

5.79%

10 Year

8.11%

Inception
(01/01/2000)

6.91%

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

7.05%

Performance through the inception date of the Retirement Target CIT Class S Units 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. 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 0.89%
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 02/29/2020

TREASURY NOTES 7.40%
GOVERNMENT AGENCY 4.33%
TREASURY BONDS 3.49%
FACEBOOK INC -A 2.04%
NEXON CO LTD 1.89%
JOHNSON & JOHNSON 1.79%
MASTERCARD INC-CLASS A 1.77%
MICRON TECHNOLOGY INC 1.65%
COCA COLA CO/THE 1.63%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 1.59%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Stocks
65.10%
Bonds
33.72%
Cash
1.18%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities
21.78%
Small Capitalization
1.68%
Mid Capitalization
2.23%
Large Capitalization
39.41%
Long Term Fixed Income
10.09%
Intermediate Term Fixed Income
17.09%
Short Term Fixed Income
6.54%
Cash
1.18%

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 6,545.03 $6,824.63
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 258,164.77 $290,960.62
00287Y109 ABBVIE INC US ABBV 386.31 $33,110.85
004239109 ACADIA REALTY TRUST US AKR 520.97 $11,898.95
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 6,545.03 $6,395.80
00507V109 ACTIVISION INC US ATVI 12,621.59 $733,693.04
00751Y106 ADVANCE AUTO PARTS INC US AAP 2,206.49 $293,419.12
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 236,968.78 $261,313.97
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 7,241.96 $7,622.16
008492100 AGREE REALTY CORP US ADC 140.37 $10,081.62
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 137,585.74 $145,931.14
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 52.64 $7,995.04
01609W102 ALIBABA GROUP - ADR CN BABA 2,279.37 $474,109.52
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 193,835.73 $208,789.61
020002101 ALLSTATE CORPORATION US ALL 92.52 $9,737.33
02079K107 ALPHABET INC-CL C US GOOG 437.32 $585,714.26
02079K305 ALPHABET INC-CL A US GOOGL 438.02 $586,612.64
02209S103 ALTRIA GROUP INC US MO 5,988.75 $241,765.73
023135106 AMAZON.COM INC US AMZN 495.89 $934,125.61
02319V103 AMBEV SA-ADR BR ABEV 89,457.9 $287,159.86
0237400 DIAGEO PLC GB DGE LN 14,301.98 $510,288.71
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 511.78 $22,231.78
0263494 BAE SYSTEMS PLC GB BA/ LN 10,447.11 $82,637.53
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,148.89 $29,744.80
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 18,521.53 $19,264.14
03027X100 AMERICAN TOWER REIT INC US AMT 2,992.02 $678,590.71
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 267,633.84 $294,831.13
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 4,048.4 $4,073.14
03064D108 AMERICOLD REALTY TRUST US COLD 684.74 $21,001.08
031162100 AMGEN INC US AMGN 169.35 $33,824.46
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 6,545.03 $4,450.62
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 7,798.74 $5,342.14
03748R754 APARTMENT INVT & MGMT CO -A US AIV 614.66 $29,405.45
038222105 APPLIED MATERIALS INC US AMAT 235.02 $13,659.17
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 173.64 $6,537.61
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 7,658.58 $7,792.61
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 7,798.74 $8,052.20
053332102 AUTOZONE INC US AZO 273.2 $282,079.49
053484101 AVALONBAY COMMUNITIES INC US AVB 227.69 $45,672.29
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 147,058.65 $148,042.92
055622104 BP PLC-SPONS ADR GB BP 5,039.1 $157,673.48
05722G100 BAKER HUGHES CO US BKR 298.28 $4,799.29
060505104 BANK OF AMERICA CORP US BAC 1,243.41 $35,437.09
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 402,147.7 $438,719.68
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 6,117.03 $1,262,187.68
086516101 BEST BUY INC US BBY 123.19 $9,319.22
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 6,553.15 $592,208.10
09247X101 BLACKROCK INC US BLK 1,149.24 $532,110.96
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,159.28 $53,362.17
097023105 BOEING CO US BA 118.51 $32,603.53
09857L108 BOOKING HOLDINGS INC US BKNG 249.36 $422,823.27
101121101 BOSTON PROPERTIES INC US BXP 254.07 $32,759.19
101137107 BOSTON SCIENTIFIC CORP US BSX 6,504.48 $243,202.43
105368203 BRANDYWINE REALTY TRUST US BDN 1,823.32 $24,760.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 427.86 $25,269.19
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 831.67 $33,100.38
11135F101 BROADCOM INC US AVGO 85.69 $23,361.68
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 7,798.74 $4,133.33
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 6,545.03 $6,618.66
12503M108 CBOE GLOBAL MARKETS INC US CBOE 4,926.07 $561,572.16
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 80.71 $5,560.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 44,323.71 $45,605.55
12572Q105 CME GROUP INC US CME 2,942.49 $585,026.30
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 77,965.19 $77,924.46
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 6,545.03 $6,185.05
126650100 CVS HEALTH CORP US CVS 354.41 $20,974.16
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 10,166.01 $10,725.14
133131102 CAMDEN PROPERTY TRUST US CPT 342.44 $36,291.78
13321L108 CAMECO CORP CA CCJ 5,615.07 $48,738.84
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 6,545.03 $6,487.76
149123101 CATERPILLAR INC US CAT 144.61 $17,966.73
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 56,636.61 $57,466.55
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 6,545.03 $6,557.30
166764100 CHEVRON CORP US CVX 1,788.71 $166,957.93
17275R102 CISCO SYSTEMS INC US CSCO 841.76 $33,611.60
172967424 CITIGROUP INC US C 356.86 $22,646.56
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 113,333.23 $196,204.63
191216100 COCA COLA CO/THE US KO 24,849.42 $1,329,195.26
194162103 COLGATE-PALMOLIVE CO US CL 270.2 $18,257.16
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 207,759.03 $224,518.43
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 411.37 $19,593.78
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 9,609.23 $10,185.78
205887102 CONAGRA BRAND INC. US CAG 186.95 $4,989.59
20825C104 CONOCOPHILLIPS US COP 2,833.55 $137,200.66
222795502 COUSINS PROPERTIES INC US CUZ 816.4 $29,137.16
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 6,545.03 $6,741.38
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 103,560.8 $104,090.71
22822V101 CROWN CASTLE INTL CORP US CCI 134.53 $19,276.14
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 136,522.11 $143,885.24
228368106 CROWN HOLDINGS INC US CCK 3,955.1 $278,834.28
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 52,875.57 $51,993.91
231021106 CUMMINS INC US CMI 67.14 $10,157.58
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,224.08 $16,437.22
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 10,166.01 $8,200.41
253868103 DIGITAL REALTY TRUST INC US DLR 41.92 $5,034.74
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 252,036.36 $297,131.10
256677105 DOLLAR GENERAL CORP US DG 3,419.85 $514,003.66
256746108 DOLLAR TREE STORES INC US DLTR 8,482.2 $704,277.00
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 12,533.28 $12,874.18
25960P109 DOUGLAS EMMETT INC US DEI 535.04 $20,427.72
260557103 DOW INC US DOW 199.64 $8,067.27
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 50,148.47 $52,357.51
2715777 QUEBECOR INC -CL B CA QBR/B CN 17,269.69 $403,484.89
277432100 EASTMAN CHEM CO US EMN 79.34 $4,880.33
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 22,756.73 $393,845.21
285512109 ELECTRONIC ARTS US EA 8,980.47 $910,350.62
2866857 LUNDIN MINING CORP CA LUN CN 20,280.2 $103,497.40
291011104 EMERSON ELEC CO US EMR 218.91 $14,034.42
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 177,124.69 $213,456.85
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 10,166.01 $10,572.85
29444U700 EQUINIX INC US EQIX 1,304.97 $747,484.58
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 204.01 $13,940.23
29476L107 EQUITY RESIDENTIAL US EQR 308.6 $23,175.66
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 706.26 $16,180.46
297178105 ESSEX PROPERTY TRUST INC US ESS 63.42 $17,970.52
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 342,418.78 $345,741.77
30225T102 EXTRA SPACE STORAGE INC US EXR 73.53 $7,379.40
30286XAN9 FREMF 2015-K43 B FLT 3.73341 02/25/2048 US 233,846.97 $251,233.68
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 15,487,872.94 $36,749.63
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 194,872.48 $197,923.19
30303M102 FACEBOOK INC -A US FB 8,625.29 $1,660,109.01
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,700.37 $18,993.14
311900104 FASTENAL CO US FAST 256.39 $8,773.50
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 26,136.97 $30,143.96
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 15,280.83 $17,577.75
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 10,461.48 $11,954.47
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 582.85 $604.59
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,141.53 $1,168.25
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 779.44 $800.35
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 721.67 $748.28
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,197.43 $1,239.65
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 122,959.28 $133,259.89
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 22,556.25 $25,943.49
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 85,774.47 $93,482.87
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 110,430.52 $115,141.82
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 51,345.85 $55,307.33
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 60,598.27 $65,116.81
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 96,936.73 $103,649.31
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 25.54 $25.56
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 119,822.61 $124,227.25
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 145,444.4 $154,775.23
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 81,538.82 $86,993.58
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 51.94 $6,043.12
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 1,380,783.57 $4,881.07
3137ADTK3 FHMS K014 X1 FLT 1.14924 04/25/2021 US 374,709.73 $3,775.31
3137AJMG6 FMHS K016 X1 FLT 1.47787 10/25/2021 US 427,805.7 $8,719.92
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 2,857,290.17 $51,074.35
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 1,342,541.16 $36,785.36
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 5,030,783.3 $26,404.07
3137B4GZ3 FHMS K032 X1 FLT 0.09543 05/25/2023 US 3,234,806.72 $11,701.27
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 82,699.07 $84,841.13
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 63,795.71 $65,417.14
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 20,650.21 $22,781.25
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 9,733.17 $10,733.87
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 140,144.61 $154,195.34
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 286,343.69 $327,183.51
3138WGK37 FEDERAL NATL MTG ASSN FN AS6613 4.00000 02/01/2046 US 303,911.71 $326,866.30
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 53,531.35 $61,574.36
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 28,485.04 $32,717.80
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 147,651.65 $156,183.66
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 138,258.8 $147,717.84
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 55,493.82 $59,283.04
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 109,196.99 $113,924.62
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 85,932 $93,350.74
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 96,054.62 $104,091.70
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 229,069.76 $239,982.67
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 746.73 $762.30
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 877.66 $895.78
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 4,819.37 $4,878.22
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5,662.05 $5,723.78
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 51,690.06 $59,177.09
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 10,231.62 $11,760.80
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 91.96 $92.65
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 3,204.59 $3,242.99
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 80,727.73 $87,944.52
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 205,744.49 $216,929.13
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 52,434.44 $54,977.88
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 57,328.65 $60,089.80
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 83,382.68 $88,000.34
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 277,339.78 $287,928.99
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,983.91 $4,682.65
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,154.73 $1,216.98
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 9,469.08 $10,510.67
316067107 FIDELITY CASH RESERVES US 10,307.36 $10,307.36
316773100 FIFTH THIRD BANCORP US FITB 296.45 $7,233.29
32054K103 FIRST INDUSTRIAL REALTY TR US FR 265.02 $10,203.15
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 10,722.79 $10,769.75
339750101 FLOOR & DECOR HOLDINGS INC -A US FND 3,858.92 $196,997.83
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 108,015.03 $114,496.13
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,609.23 $9,441.07
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 4,874.69 $5,106.24
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 10,166.01 $10,569.60
35671D857 FREEPORT-MCMORAN INC US FCX 13,774.19 $137,190.92
357081AE8 FREMF 2015-K720 B FLT 3.39225 07/25/2022 US 119,150.6 $123,040.55
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 16.25 $16.31
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 58,350.39 $58,600.51
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 1,858.28 $1,867.79
364760108 GAP INC US GPS 210.05 $3,009.99
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42250P103 HEALTHPEAK PROPERTIES INC US PEAK 978.85 $30,970.91
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437076102 HOME DEPOT INC US HD 231.11 $50,344.66
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45337C102 INCYTE CORP US INCY 2,956.65 $222,961.10
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458140100 INTEL CORP US INTC 943.17 $52,364.75
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 6,393.27 $570,407.85
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 228.47 $29,734.98
460146103 INTERNATIONAL PAPER CO US IP 143.89 $5,318.16
46120E602 INTUITIVE SURGICAL INC US ISRG 241.84 $129,130.66
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 50,951.18 $50,669.69
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 41,201.61 $41,111.16
46187W107 INVITATION HOMES INC US INVH 1,633.48 $46,864.57
46625H100 JP MORGAN CHASE & CO US JPM 486.99 $56,544.90
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 36,959.77 $37,854.31
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476405105 JERNIGAN CAPITAL INC US JCAP 1,320.04 $23,655.17
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500255104 KOHLS CORP US KSS 88.84 $3,478.05
501044101 KROGER CO US KR 247.41 $6,959.64
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,343.77 $14,971.31
5107401 BEIERSDORF AG DE BEI GR 3,718.79 $392,696.88
512807108 LAM RESEARCH CORP US LRCX 40.17 $11,787.60
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,609.23 $6,893.42
53223X107 LIFE STORAGE INC US LSI 65.73 $7,092.99
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 5,567.79 $6,708.29
539830109 LOCKHEED MARTIN CORP US LMT 70.95 $26,243.73
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550021109 LULULEMON - ADR CA LULU 3,966.71 $862,402.82
56585A102 MARATHON PETROLEUM CORP US MPC 257.94 $12,231.63
57636Q104 MASTERCARD INC-CLASS A US MA 4,967.15 $1,441,715.35
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 116.03 $6,453.59
58933Y105 MERCK & CO INC US MRK 3,653.95 $279,746.73
594918104 MICROSOFT CORP US MSFT 6,881.62 $1,114,891.56
595112103 MICRON TECHNOLOGY INC US MU 25,514.66 $1,341,050.73
59522J103 MID-AMERICA APARTMENT COMM US MAA 106.25 $13,734.45
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609207105 MONDELEZ INTERNATIONAL INC US MDLZ 23,967.84 $1,265,501.91
615369105 MOODY'S CORPORATION US MCO 2,293.25 $550,447.89
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63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 10,166.01 $10,264.62
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 6,545.03 $6,905.00
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 95,277.81 $93,765.80
64110D104 NETAPP INC US NTAP 86.92 $4,060.89
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 47,547.92 $50,332.09
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 91,279.26 $96,415.97
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 163,973.03 $172,571.94
6490995 KEYENCE CORP JP 6861 JP 147.64 $47,143.01
654106103 NIKE INC CLASS B US NKE 6,229.89 $556,827.23
6642321 NIKON CORP JP 7731 JP 1,718.83 $17,557.49
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66987V109 NOVARTIS AG- REG CH NVS 11,836.25 $993,771.86
670346105 NUCOR CORP US NUE 155.87 $6,445.22
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 7,101.81 $7,244.55
67066G104 NVIDIA CORP US NVDA 1,931.57 $521,658.71
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 9,609.23 $9,621.94
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674599105 OCCIDENTAL PETROLEUM CORP US OXY 189.62 $6,208.21
675232102 OCEANEERING INTL INC US OII 24,341.1 $256,555.21
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 10,166.01 $9,479.80
681936100 OMEGA HEALTHCARE INVS INC US OHI 340.07 $13,466.88
6821506 SONY CORP FIRST SECTION JP 6758 JP 1,044.63 $64,399.34
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693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 87,452.68 $90,501.80
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,903.77 $456,917.73
70450Y103 PAYPAL HOLDINGS INC US PYPL 4,557.87 $492,204.17
7123870 NESTLE SA-REGISTERED CH NESN SW 8,697.1 $894,981.81
713448108 PEPSICO INC US PEP 7,344.71 $969,721.55
717081103 PFIZER INC US PFE 1,208.16 $40,376.59
718172109 PHILIP MORRIS INTERNATIONAL US PM 4,939.17 $404,369.51
718546104 PHILLIPS 66 US PSX 121.35 $9,084.50
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71943U104 PHYSICIANS REALTY TRUST US DOC 1,222.42 $23,054.93
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 449.97 $8,445.99
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 355,036.55 $388,787.93
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74340E103 PROGYNY INC US PGNY 5,359.42 $147,544.74
74340W103 PROLOGIS US PLD 861.69 $72,623.08
74460D109 PUBLIC STORAGE INC US PSA 152.49 $31,888.73
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750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 10,722.79 $11,366.15
756109104 REALTY INCOME CORP US O 154.3 $11,169.82
758849103 REGENCY CENTERS CORP US REG 214.46 $12,318.56
7591EP100 REGIONS FINANCIAL CORP. US RF 366.32 $4,952.59
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780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,508.53 $156,235.03
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 6,379.42 $457,276.90
78409V104 S&P GLOBAL INC US SPGI 1,920.85 $510,773.64
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,837.81 $752,275.62
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,343.77 $14,630.64
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 117,480.26 $118,067.67
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 302,449.78 $351,074.42
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 266,520.29 $296,250.71
806857108 SCHLUMBERGER LTD NL SLB 14,986.52 $405,984.87
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812578102 SEATTLE GENETICS INC US SGEN 1,290.72 $146,961.42
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 48,879.23 $49,721.88
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 66,342.09 $67,921.23
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 55,105.48 $53,963.87
81762P102 SERVICENOW INC US NOW 2,457.09 $801,230.88
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 11,419.72 $9,478.37
828806109 SIMON PROPERTY GROUP INC US SPG 263.48 $32,429.01
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 58.36 $6,010.73
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 4,282.1 $4,283.50
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 25,055.03 $25,611.93
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 74,051.54 $76,766.89
835699307 SONY CORP SPONSORED ADR JP SNE 14,948.76 $929,813.09
84265V105 SOUTHERN COPPER CORPORATION US SCCO 5,670.95 $190,827.32
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 243,104.87 $243,469.52
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85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,545.03 $6,946.57
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,609.23 $10,902.44
85254J102 STAG INDUSTRIAL INC US STAG 622.21 $17,409.53
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 10,166.01 $10,077.06
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 148,048.79 $147,291.46
862121100 STORE CAPITAL CORP US STOR 571.8 $18,789.35
866674104 SUN COMMUNITIES US SUI 224.21 $34,277.07
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 6,545.03 $5,890.52
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 592.56 $6,488.49
871829107 SYSCO CORP US SYY 189.38 $12,622.23
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 34,271.97 $34,379.32
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 8,912.3 $6,238.61
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 199,123.2 $225,811.67
882508104 TEXAS INSTRUMENTS INC US TXN 237.33 $27,088.42
883556102 THERMO FISHER SCIENTIFIC INC US TMO 870.47 $253,132.56
88579Y101 3M CO US MMM 161.38 $24,084.37
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,735.83 $161,163.89
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 199,931.42 $202,521.63
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 110,706.65 $113,004.63
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 97,546.55 $98,073.95
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 5,848.09 $5,906.58
89417E109 TRAVELLERS COS INC US TRV 69.28 $8,300.87
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 241,348.95 $243,389.60
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 83,280.52 $85,880.92
89832Q109 TRUIST FINANCIAL CORP US TFC 395.28 $18,238.44
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 16,711.04 $15,875.48
902494103 TYSON FOODS INC -CL A US TSN 104.05 $7,057.79
902653104 UDR INC US UDR 380.71 $17,124.34
902973304 U.S. BANCORP US USB 448.61 $20,833.46
903002103 UMH PROPERTIES INC US UMH 478.64 $6,945.00
904767704 UNILEVER PLC - ADR GB UL 16,173.7 $872,247.75
907818108 UNION PAC CORP US UNP 174.14 $27,829.80
911312106 UNITED PARCEL SERVICE US UPS 259.53 $23,484.82
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 712,676.49 $709,543.28
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 218,837.04 $218,514.74
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 786,206.81 $895,977.48
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 336,693.24 $386,945.87
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,148,791.55 $1,340,182.02
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,158,264.46 $1,493,572.98
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 428,875.81 $443,785.36
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,290,360.63 $1,293,167.98
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,803,899.66 $1,902,761.83
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 1,775,077.35 $1,781,741.10
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 2,257,180.06 $2,335,916.84
913017109 UNITED TECHNOLOGIES CORP US UTX 205.73 $26,866.74
91324P102 UNITEDHEALTH GROUP INC US UNH 1,022.4 $260,671.37
91336L107 UNIVAR SOLUTIONS INC US UNVR 13,194.34 $224,171.84
91704F104 URBAN EDGE PROPERTIES US UE 689.47 $11,169.48
918204108 VF CORP US VFC 139.6 $10,050.91
91913Y100 VALERO ENERGY US VLO 153.2 $10,149.23
92276F100 VENTAS INC US VTR 323.03 $17,369.15
92339V100 VEREIT INC US VER 1,330.63 $11,523.22
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 333,917.37 $446,069.78
92511U102 VERRA MOBILITY CORP US VRRM 39,554.45 $599,052.08
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 654.42 $146,609.78
92556H206 VIACOMCBS INC US VIAC 114.94 $2,828.65
92826C839 VISA INC - CLASS A SHARES US V 6,653.13 $1,209,273.50
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 11,279.57 $10,546.39
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929042109 VORNADO REALTY TRUST US VNO 79.38 $4,253.04
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 126,388.72 $126,393.23
931142103 WAL MART STORES US WMT 540.4 $58,190.44
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 273.29 $12,505.78
94106L109 WASTE MANAGEMENT INC US WM 143.25 $15,873.05
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,609.23 $9,993.60
949746101 WELLS FARGO COMPANY US WFC 961.95 $39,295.84
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95040Q104 WELLTOWER INC. US WELL 384.61 $28,776.40
958102105 WESTERN DIGITAL CORP US WDC 118.92 $6,607.40
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 10,166.01 $5,845.45
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 205,251.61 $215,403.97
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 32,885.12 $32,926.90
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98311A105 WYNDHAM HOTELS & RESORTS INC US WH 246.35 $12,551.61
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B02J639 ADMIRAL GROUP PLC GB ADM LN 2,694.21 $73,945.71
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B1Y9TB3 DANONE FR BN FP 1,153.8 $81,433.48
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 139,194.63 $7,052.23
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 59,018.52 $45,521.98
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 345,202.67 $17,481.82
B4YVF56 BRENNTAG AG DE BNR GR 6,290.93 $285,437.82
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 534,507.36 $27,230.47
B63QM77 NEXON CO LTD JP 3659 JP 96,938.99 $1,532,987.88
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 167,033.55 $9,080.64
B7KR2P8 EASY JET PLC GB EZJ LN 32,825.45 $473,847.69
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -12.81 -$7,235.34
BBG00RBW6Q94 MU US 02/28/20 C60 US -24.28 -$24.28
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BBG00RLJMWB8 PYPL US 03/13/20 P107 US -13.59 -$7,227.43
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -26.5 -$3,153.82
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 958.83 $19,267.65
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 573.76 $7,142.48
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,129.62 $9,628.13
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 726.55 $32,172.20
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 1,384.54 $17,863.27
BJ2KSG2 AKZO NOBEL NL AKZA NA 587.78 $47,028.77
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,111.37 $1,121,150.43
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 11,494.86 $49,793.46
BNGN9Z1 FINECOBANK SPA IT FBK IM 21,516 $225,767.36
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 16,411.59 $512,023.53
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,297.62 $15,471.11
BYXS699 QIAGEN N.V. NL QIA GR 1,283.63 $47,046.32
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 10,402.52 $601,066.88
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 9,677.37 $18,291.87
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 7,153.32 $178,260.80
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,503.1 $41,605.93
G29183103 EATON CORP PLC US ETN 160.21 $14,534.58
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 302.9 $11,077.14
G5960L103 MEDTRONIC INC IE MDT 10,939.34 $1,101,263.09
G97822103 PERRIGO CO PLC IE PRGO 978.94 $49,622.45
H01301128 ALCON INC CH ALC 8,500.92 $521,106.28
H1467J104 CHUBB LTD CH CB 99.93 $14,492.55
N22717107 CORE LABORATORIES N.V. NL CLB 6,387.25 $171,433.76
N47279109 INTERXION HOLDING NV NL INXN 500.5 $42,487.26
N53745100 LYONDELLBASELL INDU-CL A US LYB 149.02 $10,648.67
N72482123 QIAGEN N.V. ADR NL QGEN 5,121.76 $183,871.27
USD US DOLLAR US 964,066.67 $964,066.67

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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