Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

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

$21.49

Daily $ Change

$0.08

Daily % Change

0.37%

as of 07/02/2020

CUSIP

563821198

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 05/31/2020

YTD

1.68%

1 Year

8.06%

3 Year

5.13%

5 Year

3.99%

10 Year

5.01%

Inception
(01/01/2000)

5.49%

US Stock Market Cycle (04/01/2000 - 05/31/2020)

5.44%

Performance through the inception date of the Retirement Target CIT Class S Units (01/06/2005) 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. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 05/31/2020

TREASURY NOTES 9.23%
GOVERNMENT AGENCY 8.09%
TSY INFL IX N/B 2.00000 01/15/2026 3.01%
TSY INFL IX N/B 0.50000 04/15/2024 1.97%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.52%
TREASURY BONDS 1.47%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.29%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.22%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.21%
AMERICAN TOWER CORP 3.80000 08/15/2029 1.13%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2020

Bonds 68.54%
Stocks 29.49%
Cash 1.97%

Detailed Asset Class Allocation

As of 05/31/2020

International Equities 6.18%
Small Capitalization 0.12%
Mid Capitalization 1.54%
Large Capitalization 21.64%
Long Term Fixed Income 19.92%
Intermediate Term Fixed Income 41.20%
Short Term Fixed Income 7.43%
Cash 1.97%

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

May Fund Holdings

As of 05/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 6,018.79 $6,224.21
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 124,388.32 $139,612.10
00287Y109 ABBVIE INC US ABBV 1,181.69 $109,507.13
004239109 ACADIA REALTY TRUST US AKR 431.35 $5,059.70
00507V109 ACTIVISION INC US ATVI 1,424.45 $102,531.69
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 389,215.08 $335,284.64
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 6,018.79 $5,416.91
008492100 AGREE REALTY CORP US ADC 172.54 $10,830.25
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 160,501.06 $140,850.32
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 10,031.32 $9,180.09
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 14,043.84 $13,697.94
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 90.28 $13,878.13
01609W102 ALIBABA GROUP - ADR CN BABA 373.17 $77,390.68
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 449,402.98 $498,676.47
02079K107 ALPHABET INC-CL C US GOOG 28.09 $40,135.06
02079K305 ALPHABET INC-CL A US GOOGL 152.48 $218,577.41
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 8,025.05 $8,449.34
023135106 AMAZON.COM INC US AMZN 96.3 $235,201.79
0237400 DIAGEO PLC GB DGE LN 2,190.84 $76,437.84
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 566.57 $18,300.17
02665T306 AMERICAN HOMES 4 RENT- A US AMH 878.74 $22,179.48
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 18,056.37 $18,015.34
03027X100 AMERICAN TOWER REIT INC US AMT 389.22 $100,483.66
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 417,302.77 $467,783.88
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 3,836.14 $3,846.93
03064D108 AMERICOLD REALTY TRUST US COLD 635.99 $22,711.04
03674XAJ5 ANTERO RESOURCES CORP 5.00000 03/01/2025 US 10,031.32 $5,617.54
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 20,062.63 $15,799.32
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 18,056.37 $14,116.47
03748R754 APARTMENT INVT & MGMT CO -A US AIV 396.84 $14,631.45
053015103 AUTOMATIC DATA PROCESSING US ADP 302.14 $44,260.97
053484101 AVALONBAY COMMUNITIES INC US AVB 186.58 $29,108.73
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 168,526.12 $129,586.93
060505104 BANK OF AMERICA CORP US BAC 5,077.85 $122,477.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 196,613.8 $214,749.33
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 826.58 $153,396.81
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,031.22 $109,876.42
09857L108 BOOKING HOLDINGS INC US BKNG 44.14 $72,360.38
101121101 BOSTON PROPERTIES INC US BXP 65 $5,588.95
105368203 BRANDYWINE REALTY TRUST US BDN 1,035.23 $9,989.99
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,817.27 $108,527.56
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 52,162.85 $521.63
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 8,025.05 $8,325.99
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,348.21 $143,530.32
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 52,298.31 $53,471.60
12572Q105 CME GROUP INC US CME 433.35 $79,130.23
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 146,496.75 $148,971.36
12653CAC2 CNX RESOURCES CORP 7.25000 03/14/2027 US 6,018.79 $5,687.76
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 6,018.79 $5,431.96
127097103 CABOT OIL & GAS CORP US COG 9,979.15 $197,986.41
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 8,025.05 $7,302.80
133131102 CAMDEN PROPERTY TRUST US CPT 280.88 $25,719.89
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 300,939.5 $315,241.34
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 527.25 $45,364.25
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 12,037.58 $12,024.22
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 8,025.05 $8,386.18
149123101 CATERPILLAR INC US CAT 530.46 $63,723.68
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 70,813.78 $70,115.72
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 96.3 $52,387.55
16411QAD3 CHENIERE ENERGY PARTNERS 5.62500 10/01/2026 US 18,056.37 $18,377.77
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 83,569.63 $83,835.68
166764100 CHEVRON CORP US CVX 351.1 $32,195.51
17275R102 CISCO SYSTEMS INC US CSCO 2,956.03 $141,357.28
172967424 CITIGROUP INC US C 1,523.96 $73,012.81
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 345,077.29 $384,195.26
191216100 COCA COLA CO/THE US KO 4,662.56 $217,648.11
194162103 COLGATE-PALMOLIVE CO US CL 983.87 $71,163.43
20030N101 COMCAST CORP-CL A US CMCSA 2,296.77 $90,952.10
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 312,977.07 $342,917.77
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 172,748.89 $178,241.65
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 304.95 $11,106.35
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 8,025.05 $8,438.10
20605P101 CONCHO RESOURCES INC US CXO 690.15 $37,627.23
20825C104 CONOCOPHILLIPS US COP 1,400.37 $59,067.68
217204106 COPART INC US CPRT 878.74 $78,550.87
21870Q105 CORESITE REALTY CORP US COR 58.18 $7,262.23
222795502 COUSINS PROPERTIES INC US CUZ 804.11 $25,023.91
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 176,551.17 $175,183.38
22822V101 CROWN CASTLE INTL CORP US CCI 124.39 $21,414.69
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 329,027.18 $347,010.44
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 104,325.69 $112,481.69
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 104,865.86 $106,075.14
247361ZN1 DELTA AIR LINES INC 4.37500 04/19/2028 US 10,031.32 $8,154.08
25243Q205 DIAGEO PLC-SPONSORED ADR GB DEO 384.8 $54,106.91
253868103 DIGITAL REALTY TRUST INC US DLR 280.07 $40,207.47
254687106 WALT DISNEY CO/THE US DIS 726.27 $85,191.16
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 128,400.85 $134,024.48
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 8,025.05 $8,592.78
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 365,139.92 $405,461.74
256746108 DOLLAR TREE STORES INC US DLTR 886.77 $86,788.02
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 200,626.33 $220,164.64
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 16,050.11 $15,729.10
25960P109 DOUGLAS EMMETT INC US DEI 441.38 $12,958.86
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 80,250.53 $84,363.37
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 6,018.79 $6,018.79
264411505 DUKE RLTY INVTS INC US DRE 549.72 $18,954.21
26875P101 EOG RESOURCES INC US EOG 1,484.63 $75,671.84
277276101 EASTGROUP PROPERTIES US EGP 44.94 $5,224.31
285512109 ELECTRONIC ARTS US EA 999.12 $122,771.76
291011104 EMERSON ELEC CO US EMR 783.25 $47,793.62
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 345,077.29 $389,991.87
29444U700 EQUINIX INC US EQIX 313.78 $218,902.05
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 437.37 $27,247.86
29476L107 EQUITY RESIDENTIAL US EQR 286.9 $17,374.40
297178105 ESSEX PROPERTY TRUST INC US ESS 50.56 $12,273.93
30212P303 EXPEDIA INC US EXPE 2,515.85 $199,960.09
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 146,457.22 $156,403.83
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 621,941.62 $627,280.87
30225T102 EXTRA SPACE STORAGE INC US EXR 60.19 $5,823.18
30231G102 EXXON MOBIL CORP US XOM 1,352.22 $61,485.51
302491303 FMC CORP US FMC 902.82 $88,846.37
30262DAL5 FREMF 2011-K13 B 4.61111 01/25/2048 US 164,513.59 $165,955.06
30262SAR9 FREMF 2015-K42 B FLT 3.85077 12/25/2024 US 72,225.48 $75,732.19
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 4,012.53 $3,210.02
30287EAE0 FREMF 2014-K41 B FLT 3.83267 11/25/2047 US 280,876.86 $296,802.10
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 4,228,891.51 $8,906.89
30303M102 FACEBOOK INC -A US FB 678.12 $152,637.35
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 741.03 $745.03
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 52,958.77 $61,234.99
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 1,200.33 $1,392.31
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 3,923.85 $4,507.63
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 41,749.78 $48,330.80
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 14,012.11 $16,346.49
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 15,449.9 $16,105.76
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 942.57 $965.21
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 935.87 $970.16
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 170,564 $185,352.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 29,437.63 $33,830.37
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 15,439.72 $16,685.86
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 14,488.05 $15,966.22
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 148,274.86 $164,600.57
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 47,826.28 $52,139.96
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 157,290.77 $167,962.35
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 107,713.16 $116,353.83
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 99,153.06 $108,270.64
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 2.56 $2.56
3136AY6W8 FNA 2017-M15 A1 2.95933 09/25/2027 US 187,948.57 $204,324.87
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 118,051.09 $122,279.41
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 17,727.76 $20,712.48
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 725.95 $764.52
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 2,132.91 $2,474.97
3137A2B34 FHMS K009 X1 FLT 1.21114 08/25/2020 US 192,808.81 $200.96
3137ADTK3 FHMS K014 X1 FLT 1.14928 04/25/2021 US 4,286,071.92 $30,146.51
3137AJMG6 FMHS K016 X1 FLT 1.47797 10/25/2021 US 911,064.56 $14,965.51
3137AUPF0 FHMS K021 x1 FLT 1.41666 06/25/2022 US 6,145,484.94 $142,707.99
3137B3NB0 FHMS K030 X1 FLT 0.17807 04/25/2023 US 11,703,688.39 $53,700.03
3137B4GZ3 FHMS K032 X1 FLT 0.09354 05/25/2023 US 6,879,456.74 $21,922.08
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 121,560.19 $124,139.62
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 81,593.6 $83,061.19
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 72,461.53 $78,860.34
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 12,185.04 $13,162.50
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 31,835.38 $35,395.22
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 US 210,979.9 $246,916.34
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 188,718.85 $208,557.94
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 19,289.16 $22,526.04
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 3,247.88 $3,849.85
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 183,005.77 $197,725.54
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 35,042.01 $37,943.36
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 39,861.6 $43,074.19
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 136,133.05 $146,973.91
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 128,192.5 $144,247.96
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 80,266.44 $87,717.32
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 119,354.98 $128,978.68
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 72,772.41 $79,445.56
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 528.25 $539.22
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 650.33 $665.07
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 3,425.15 $3,464.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 3,828.4 $3,874.66
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 5,764.98 $6,636.72
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 2,243.72 $2,497.99
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 12,969.79 $15,081.71
31411RHZ4 FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 US 1,725.56 $1,885.00
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 986.15 $1,096.36
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 6,499.46 $7,403.71
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 4,596.29 $5,301.36
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 994.72 $1,141.68
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 2,985.22 $3,396.40
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 1,704.22 $1,800.65
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 10,237.74 $10,795.00
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 1,836.93 $2,040.98
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 5,151.6 $5,893.18
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 2,009.01 $2,192.38
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 2,179.72 $2,208.43
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 5,354.68 $5,946.50
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 66,390.95 $73,026.72
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 71,403.77 $78,666.66
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 148,148.17 $160,915.39
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 95,515.27 $101,178.85
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 126,253.48 $134,216.94
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 123,823.3 $126,335.94
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,988.47 $10,401.21
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 31,322.65 $36,156.67
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 5,692.9 $6,621.33
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 22,068.9 $23,613.72
316067107 FIDELITY CASH RESERVES US 3,428.26 $3,428.26
32054K103 FIRST INDUSTRIAL REALTY TR US FR 214.67 $8,131.71
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 8,025.05 $7,866.16
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 188,588.75 $181,405.91
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 20,062.63 $22,269.52
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 8,025.05 $7,543.55
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 16,050.11 $15,247.60
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 20,062.63 $16,802.46
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 10,031.32 $9,178.65
357081AE8 FREMF 2015-K720 B FLT 3.39335 07/25/2022 US 40,125.27 $40,350.01
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 10,031.32 $9,145.15
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 46,144.06 $46,244.15
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 1,863.89 $1,867.23
36257MAA3 GSMS 2019-70P A 1.18363 10/15/2036 US 136,425.9 $131,639.47
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 11,922.97 $13,143.14
369550108 GENERAL DYNAMICS CORP US GD 282.88 $41,535.73
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 312,977.07 $240,116.01
370334104 GENERAL MLS INC US GIS 880.75 $55,522.45
37045VAP5 GENERAL MOTORS CO 5.15000 04/01/2038 US 12,037.58 $11,647.71
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 8,025.05 $7,502.62
374297109 GETTY REALTY CORP US GTY 242.76 $6,462.21
375558103 GILEAD SCIENCES INC US GILD 1,292.03 $100,558.97
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 159,132.22 $165,201.55
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 10,705.42 $154,907.44
398433AP7 GRIFFON CORPORATION 5.75000 03/01/2028 US 8,025.05 $7,971.29
4031976 ADIDAS AG DE ADS GR 329.03 $87,260.50
404119BX6 HCA INC 4.12500 06/15/2029 US 236,739.07 $257,243.38
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 4,012.53 $3,611.27
418751AB9 HAT HOLDINGS I LLC 6.00000 04/15/2025 US 18,056.37 $18,637.56
421946104 HEALTHCARE REALTY TRUST INC US HR 232.73 $7,144.70
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 214.67 $5,682.32
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 764.39 $18,834.48
427866108 HERSHEY CO/THE US HSY 262.02 $35,550.60
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 144.45 $11,456.41
437076102 HOME DEPOT INC US HD 662.87 $164,709.79
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,015.49 $52,503.57
438516106 HONEYWELL INTERNATIONAL INC US HON 601.88 $87,784.05
44107P104 HOST MARRIOTT CORP US HST 474.68 $5,667.70
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 16,050.11 $17,053.62
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 18,056.37 $18,447.47
452308109 ILLINOIS TOOL WKS INC US ITW 342.27 $59,027.63
45337C102 INCYTE CORP US INCY 477.49 $48,661.07
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 6,018.79 $5,823.18
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 8,025.05 $6,896.73
458140100 INTEL CORP US INTC 2,411.53 $151,757.49
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 858.68 $83,506.70
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 747.94 $93,417.08
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 14,043.84 $14,289.61
46187BAA1 IHSFR 2017-SFR2 A 1.03213 12/17/2036 US 58,658.53 $57,648.13
46187BAB9 IHSFR 2017-SFR2 B 1.33213 12/17/2036 US 48,150.32 $46,869.30
46187W107 INVITATION HOMES INC US INVH 1,286.42 $33,832.74
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 80,250.53 $79,963.46
46625H100 JP MORGAN CHASE & CO US JPM 1,385.93 $134,864.53
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 10,315.89 $10,314.78
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 75,715.98 $77,067.39
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 86,021.92 $89,089.80
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 98,488.12 $100,367.92
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 349,089.81 $360,200.96
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 88,727.61 $89,908.82
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 75,437.4 $76,788.64
476405105 JERNIGAN CAPITAL INC US JCAP 682.13 $8,233.30
478160104 JOHNSON & JOHNSON US JNJ 2,510.24 $373,397.70
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 10,031.32 $501.57
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 8,025.05 $8,466.43
49271VAJ9 KEURIG DR PEPPER INC 3.20000 05/01/2030 US 304,952.02 $332,076.58
49427F108 KILROY REALTY CORP US KRC 408.07 $23,309.18
494368103 KIMBERLY CLARK CORP US KMB 358.32 $50,680.59
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 252,789.18 $338,019.09
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,043.84 $14,324.72
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 10,031.32 $9,554.83
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 10,031.32 $8,526.62
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 8,025.05 $5,497.96
53223X107 LIFE STORAGE INC US LSI 54.17 $5,280.40
532457108 ELI LILLY & CO US LLY 508.39 $77,757.81
53627NAC5 LIONS GATE CAPITAL HOLD 6.37500 02/01/2024 US 6,018.79 $6,071.57
539830109 LOCKHEED MARTIN CORP US LMT 258.81 $100,531.37
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 18,056.37 $1,173.66
550021109 LULULEMON - ADR CA LULU 276.86 $83,085.60
57636Q104 MASTERCARD INC-CLASS A US MA 1,115.48 $335,637.50
58933Y105 MERCK & CO INC US MRK 1,710.54 $138,074.80
594918104 MICROSOFT CORP US MSFT 904.82 $165,809.14
595112103 MICRON TECHNOLOGY INC US MU 4,802.99 $230,111.46
59522J103 MID-AMERICA APARTMENT COMM US MAA 134.42 $15,641.07
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 4,275.35 $222,831.09
615369105 MOODY'S CORPORATION US MCO 240.75 $64,379.38
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 6,018.79 $3,165.28
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 4,012.53 $2,036.36
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 8,025.05 $7,904.68
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 14,043.84 $13,201.21
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 78,482.3 $78,877.22
63941RAB6 NAVSL 2019-2A A2 1.16825 02/27/2068 US 401,252.66 $382,975.44
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 98,767.62 $101,659.07
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 122,685.32 $126,229.79
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 160,488.06 $165,870.11
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 4,012.53 $4,142.93
65343HAA9 NEXSTAR BROADCASTING INC 5.62500 07/15/2027 US 12,037.58 $12,338.52
654106AJ2 NIKE INC 2.75000 03/27/2027 US 80,250.53 $87,816.23
6642321 NIKON CORP JP 7731 JP 7,864.55 $72,385.21
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 54,169.11 $541.69
66987V109 NOVARTIS AG- REG CH NVS 2,692.41 $235,397.00
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 6,018.79 $6,056.41
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 8,025.05 $7,618.61
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 16,050.11 $10,753.57
68389X105 ORACLE CORP US ORCL 1,564.08 $84,100.74
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 8,025.05 $6,740.96
69318UAB1 6.8750000 05/15/2023 6.87500 05/15/2023 US 12,037.58 $11,465.79
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 4,012.53 $3,706.57
693475105 PNC FINANCIAL SERVICES GROUP US PNC 324.21 $36,973.15
70450Y103 PAYPAL HOLDINGS INC US PYPL 991.09 $153,629.49
7123870 NESTLE SA-REGISTERED CH NESN SW 1,408.4 $152,919.58
713448108 PEPSICO INC US PEP 577.8 $76,010.09
717081103 PFIZER INC US PFE 3,841.59 $146,710.44
717081EW9 PFIZER INC 2.62500 04/01/2030 US 88,275.59 $96,459.49
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 14,043.84 $12,732.15
71943U104 PHYSICIANS REALTY TRUST US DOC 563.76 $9,736.13
723787107 PIONEER NATURAL RESOURCES CO US PXD 409.28 $37,489.84
73179PAM8 POLYONE CORP 5.75000 05/15/2025 US 10,031.32 $10,520.34
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 8,025.05 $8,085.24
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 469,465.61 $501,691.06
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 16,050.11 $15,207.48
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 120,152.16 $120,914.04
74340W103 PROLOGIS US PLD 935.72 $85,618.49
74460D109 PUBLIC STORAGE INC US PSA 136.43 $27,658.99
747525103 QUALCOMM INC US QCOM 736.7 $59,584.29
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 26,081.42 $24,330.84
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,255.92 $81,032.01
756109104 REALTY INCOME CORP US O 122.38 $6,768.95
758849103 REGENCY CENTERS CORP US REG 110.34 $4,721.64
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 335.05 $13,334.83
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 662.07 $20,153.32
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,801.62 $129,302.59
78409V104 S&P GLOBAL INC US SPGI 192.6 $62,599.27
78410G104 SBA COMMUNICATIONS CORP US SBAC 349.09 $109,659.58
78442PGC4 SLM CORP 5.12500 04/05/2022 US 18,056.37 $17,802.68
78443BAG1 SLMA 2006-10 A6 FLT 1.14138 03/25/2044 US 52,162.85 $47,469.55
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 263,748.89 $269,455.41
785592AU0 SABINE PASS LIQUEFACTION 4.20000 03/15/2028 US 124,388.32 $131,044.66
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 365,139.92 $419,487.91
79466L302 SALESFORCE.COM US CRM 662.07 $115,722.67
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 308,964.55 $331,875.05
806857108 SCHLUMBERGER LTD NL SLB 2,042.38 $37,722.69
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 10,031.32 $10,257.02
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 142,011.43 $146,600.23
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 91,891.75 $94,088.93
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 127,274.85 $131,150.69
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 95,180.59 $95,376.10
81762P102 SERVICENOW INC US NOW 212.66 $82,498.71
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 75,664.69 $75,736.12
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 27,466.72 $27,799.09
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 100,313.17 $103,136.02
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 82,175.08 $83,013.50
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 280,876.86 $285,469.34
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 18,056.37 $17,785.52
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,018.79 $6,307.99
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 12,037.58 $13,648.21
85254J102 STAG INDUSTRIAL INC US STAG 323.01 $8,688.93
855030AN2 STAPLES INC 7.50000 04/15/2026 US 8,025.05 $7,010.29
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 12,037.58 $11,796.83
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.65363 11/15/2027 US 355,646.93 $265,215.80
858912AF5 STERICYCLE INC 5.37500 07/15/2024 US 8,025.05 $8,205.62
862121100 STORE CAPITAL CORP US STOR 377.18 $7,294.61
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 119,136.96 $118,807.73
866674104 SUN COMMUNITIES US SUI 284.89 $39,083.98
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 463.45 $4,101.50
87105L104 SWITCH INC - A US SWCH 481.5 $9,201.53
872540AR0 TJX COS INC 3.50000 04/15/2025 US 200,626.33 $223,670.96
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 14,043.84 $14,185.69
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 41,688.03 $41,760.60
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,018.79 $1,339.18
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 312,977.07 $350,986.00
88146M101 TERRENO REALTY CORP US TRNO 94.29 $4,826.93
882508104 TEXAS INSTRUMENTS INC US TXN 797.29 $94,670.10
883556102 THERMO FISHER SCIENTIFIC INC US TMO 232.73 $81,265.78
88579Y101 3M CO US MMM 517.21 $80,913.06
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,479.26 $130,750.66
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 237,093.11 $239,562.80
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 107,937.37 $109,491.90
89177EAA7 TPMT 2019-HY1 A1 1.16825 10/25/2048 US 96,505.18 $95,288.38
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 10,031.32 $7,924.74
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 310,644.95 $312,216.01
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 199,736.03 $205,433.76
89832Q109 TRUIST FINANCIAL CORP US TFC 1,420.43 $52,243.58
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 34,106.48 $30,098.97
902653104 UDR INC US UDR 243.96 $9,021.70
902973304 U.S. BANCORP US USB 1,482.23 $52,708.00
904767704 UNILEVER PLC - ADR GB UL 6,679.25 $361,013.56
907818108 UNION PAC CORP US UNP 573.39 $97,396.03
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 321,002.13 $320,948.96
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,087,996.91 $1,240,743.59
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 786,805.39 $813,742.29
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 762,380.05 $816,461.39
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 563,759.99 $605,073.03
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 758,367.53 $825,524.53
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 754,355 $821,097.74
912828YN4 US TREASURY FRN FLT 0.45006 10/31/2021 US 1,339,381.38 $1,343,798.47
91704F104 URBAN EDGE PROPERTIES US UE 571.79 $5,574.90
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 60,187.9 $60,729.59
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 397,240.13 $533,301.52
92826C839 VISA INC - CLASS A SHARES US V 1,613.04 $314,929.09
92826CAK8 VISA INC 2.70000 04/15/2040 US 84,263.06 $89,441.38
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 20,062.63 $15,999.95
92840VAG7 VISTRA OPERATIONS CO LLC 3.70000 01/30/2027 US 10,031.32 $10,189.27
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 200,626.33 $208,973.04
93065PAA9 WBHT 2019-WBM A FLT 1.23363 12/15/2033 US 156,488.54 $145,115.48
931142103 WAL MART STORES US WMT 1,152.4 $142,966.45
94106L109 WASTE MANAGEMENT INC US WM 473.48 $50,543.79
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 8,025.05 $7,623.80
949746101 WELLS FARGO COMPANY US WFC 3,145.82 $83,269.88
95040Q104 WELLTOWER INC. US WELL 370.36 $18,765.95
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 6,018.79 $6,054.53
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 8,025.05 $942.94
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 280,876.86 $298,863.60
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 31,029.35 $31,141.81
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 119,906.91 $124,123.21
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 367.15 $16,863.02
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 160,501.06 $7,333.71
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 56,175.37 $42,817.07
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 441,377.93 $20,421.68
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 722,254.79 $32,559.04
B63QM77 NEXON CO LTD JP 3659 JP 13,923.47 $290,106.97
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 140,438.43 $7,000.36
BBG00T36KXJ4 BABA US 05/29/20 P195 CN -2.81 -$2.81
BBG00T7BRKC7 DIS US 05/29/20 C113 US -5.22 -$2,190.84
BBG00TF3H2M6 ATVI US 06/05/20 P70 US -8.83 -$529.65
BBG00TKX88P8 NOW US 06/12/20 P330 US -1.61 -$210.26
BBG00TPV7B53 CRM US 06/12/20 C187.5 US -3.21 -$362.73
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,743.93 $6,965.26
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 72,225.48 $81,074.76
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 3,001.37 $162,541.79
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,609.02 $75,085.29
G1151C101 ACCENTURE PLC - CL A IE ACN 367.95 $74,185.81
G29183103 EATON CORP PLC US ETN 503.57 $42,753.27
G5494J103 LINDE PLC GB LIN 327.82 $66,331.79
G5960L103 MEDTRONIC INC IE MDT 1,834.13 $180,808.13
H01301128 ALCON INC CH ALC 1,263.95 $80,311.12
H1467J104 CHUBB LTD CH CB 402.86 $49,124.46
USD US DOLLAR US 826,263.89 $826,263.89

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 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

$21.49

Daily $ Change

$0.08

Daily % Change

0.37%

as of 07/02/2020

CUSIP

563821198

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 preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

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 05/31/2020

YTD

1.68%

1 Year

8.06%

3 Year

5.13%

5 Year

3.99%

10 Year

5.01%

Inception
(01/01/2000)

5.49%

US Stock Market Cycle (04/01/2000 - 05/31/2020)

5.44%

Performance through the inception date of the Retirement Target CIT Class S Units (01/06/2005) 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. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 05/31/2020

TREASURY NOTES 9.23%
GOVERNMENT AGENCY 8.09%
TSY INFL IX N/B 2.00000 01/15/2026 3.01%
TSY INFL IX N/B 0.50000 04/15/2024 1.97%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.52%
TREASURY BONDS 1.47%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.29%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.22%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.21%
AMERICAN TOWER CORP 3.80000 08/15/2029 1.13%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2020

Bonds
68.54%
Stocks
29.49%
Cash
1.97%

Detailed Asset Class Allocation

As of 05/31/2020

International Equities
6.18%
Small Capitalization
0.12%
Mid Capitalization
1.54%
Large Capitalization
21.64%
Long Term Fixed Income
19.92%
Intermediate Term Fixed Income
41.20%
Short Term Fixed Income
7.43%
Cash
1.97%

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

May Fund Holdings

As of 05/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 6,018.79 $6,224.21
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 124,388.32 $139,612.10
00287Y109 ABBVIE INC US ABBV 1,181.69 $109,507.13
004239109 ACADIA REALTY TRUST US AKR 431.35 $5,059.70
00507V109 ACTIVISION INC US ATVI 1,424.45 $102,531.69
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 389,215.08 $335,284.64
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 6,018.79 $5,416.91
008492100 AGREE REALTY CORP US ADC 172.54 $10,830.25
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 160,501.06 $140,850.32
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 10,031.32 $9,180.09
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 14,043.84 $13,697.94
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 90.28 $13,878.13
01609W102 ALIBABA GROUP - ADR CN BABA 373.17 $77,390.68
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 449,402.98 $498,676.47
02079K107 ALPHABET INC-CL C US GOOG 28.09 $40,135.06
02079K305 ALPHABET INC-CL A US GOOGL 152.48 $218,577.41
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 8,025.05 $8,449.34
023135106 AMAZON.COM INC US AMZN 96.3 $235,201.79
0237400 DIAGEO PLC GB DGE LN 2,190.84 $76,437.84
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 566.57 $18,300.17
02665T306 AMERICAN HOMES 4 RENT- A US AMH 878.74 $22,179.48
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 18,056.37 $18,015.34
03027X100 AMERICAN TOWER REIT INC US AMT 389.22 $100,483.66
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 417,302.77 $467,783.88
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 3,836.14 $3,846.93
03064D108 AMERICOLD REALTY TRUST US COLD 635.99 $22,711.04
03674XAJ5 ANTERO RESOURCES CORP 5.00000 03/01/2025 US 10,031.32 $5,617.54
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 20,062.63 $15,799.32
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 18,056.37 $14,116.47
03748R754 APARTMENT INVT & MGMT CO -A US AIV 396.84 $14,631.45
053015103 AUTOMATIC DATA PROCESSING US ADP 302.14 $44,260.97
053484101 AVALONBAY COMMUNITIES INC US AVB 186.58 $29,108.73
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 168,526.12 $129,586.93
060505104 BANK OF AMERICA CORP US BAC 5,077.85 $122,477.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 196,613.8 $214,749.33
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 826.58 $153,396.81
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,031.22 $109,876.42
09857L108 BOOKING HOLDINGS INC US BKNG 44.14 $72,360.38
101121101 BOSTON PROPERTIES INC US BXP 65 $5,588.95
105368203 BRANDYWINE REALTY TRUST US BDN 1,035.23 $9,989.99
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,817.27 $108,527.56
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 52,162.85 $521.63
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 8,025.05 $8,325.99
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,348.21 $143,530.32
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 52,298.31 $53,471.60
12572Q105 CME GROUP INC US CME 433.35 $79,130.23
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 146,496.75 $148,971.36
12653CAC2 CNX RESOURCES CORP 7.25000 03/14/2027 US 6,018.79 $5,687.76
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 6,018.79 $5,431.96
127097103 CABOT OIL & GAS CORP US COG 9,979.15 $197,986.41
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 8,025.05 $7,302.80
133131102 CAMDEN PROPERTY TRUST US CPT 280.88 $25,719.89
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 300,939.5 $315,241.34
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 527.25 $45,364.25
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 12,037.58 $12,024.22
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 8,025.05 $8,386.18
149123101 CATERPILLAR INC US CAT 530.46 $63,723.68
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 70,813.78 $70,115.72
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 96.3 $52,387.55
16411QAD3 CHENIERE ENERGY PARTNERS 5.62500 10/01/2026 US 18,056.37 $18,377.77
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 83,569.63 $83,835.68
166764100 CHEVRON CORP US CVX 351.1 $32,195.51
17275R102 CISCO SYSTEMS INC US CSCO 2,956.03 $141,357.28
172967424 CITIGROUP INC US C 1,523.96 $73,012.81
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 345,077.29 $384,195.26
191216100 COCA COLA CO/THE US KO 4,662.56 $217,648.11
194162103 COLGATE-PALMOLIVE CO US CL 983.87 $71,163.43
20030N101 COMCAST CORP-CL A US CMCSA 2,296.77 $90,952.10
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 312,977.07 $342,917.77
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 172,748.89 $178,241.65
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 304.95 $11,106.35
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 8,025.05 $8,438.10
20605P101 CONCHO RESOURCES INC US CXO 690.15 $37,627.23
20825C104 CONOCOPHILLIPS US COP 1,400.37 $59,067.68
217204106 COPART INC US CPRT 878.74 $78,550.87
21870Q105 CORESITE REALTY CORP US COR 58.18 $7,262.23
222795502 COUSINS PROPERTIES INC US CUZ 804.11 $25,023.91
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 176,551.17 $175,183.38
22822V101 CROWN CASTLE INTL CORP US CCI 124.39 $21,414.69
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 329,027.18 $347,010.44
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 104,325.69 $112,481.69
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 104,865.86 $106,075.14
247361ZN1 DELTA AIR LINES INC 4.37500 04/19/2028 US 10,031.32 $8,154.08
25243Q205 DIAGEO PLC-SPONSORED ADR GB DEO 384.8 $54,106.91
253868103 DIGITAL REALTY TRUST INC US DLR 280.07 $40,207.47
254687106 WALT DISNEY CO/THE US DIS 726.27 $85,191.16
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 128,400.85 $134,024.48
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 8,025.05 $8,592.78
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 365,139.92 $405,461.74
256746108 DOLLAR TREE STORES INC US DLTR 886.77 $86,788.02
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 200,626.33 $220,164.64
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 16,050.11 $15,729.10
25960P109 DOUGLAS EMMETT INC US DEI 441.38 $12,958.86
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 80,250.53 $84,363.37
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 6,018.79 $6,018.79
264411505 DUKE RLTY INVTS INC US DRE 549.72 $18,954.21
26875P101 EOG RESOURCES INC US EOG 1,484.63 $75,671.84
277276101 EASTGROUP PROPERTIES US EGP 44.94 $5,224.31
285512109 ELECTRONIC ARTS US EA 999.12 $122,771.76
291011104 EMERSON ELEC CO US EMR 783.25 $47,793.62
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 345,077.29 $389,991.87
29444U700 EQUINIX INC US EQIX 313.78 $218,902.05
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 437.37 $27,247.86
29476L107 EQUITY RESIDENTIAL US EQR 286.9 $17,374.40
297178105 ESSEX PROPERTY TRUST INC US ESS 50.56 $12,273.93
30212P303 EXPEDIA INC US EXPE 2,515.85 $199,960.09
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 146,457.22 $156,403.83
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 621,941.62 $627,280.87
30225T102 EXTRA SPACE STORAGE INC US EXR 60.19 $5,823.18
30231G102 EXXON MOBIL CORP US XOM 1,352.22 $61,485.51
302491303 FMC CORP US FMC 902.82 $88,846.37
30262DAL5 FREMF 2011-K13 B 4.61111 01/25/2048 US 164,513.59 $165,955.06
30262SAR9 FREMF 2015-K42 B FLT 3.85077 12/25/2024 US 72,225.48 $75,732.19
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 4,012.53 $3,210.02
30287EAE0 FREMF 2014-K41 B FLT 3.83267 11/25/2047 US 280,876.86 $296,802.10
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 4,228,891.51 $8,906.89
30303M102 FACEBOOK INC -A US FB 678.12 $152,637.35
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 741.03 $745.03
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 52,958.77 $61,234.99
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 1,200.33 $1,392.31
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 3,923.85 $4,507.63
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 41,749.78 $48,330.80
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 14,012.11 $16,346.49
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 15,449.9 $16,105.76
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 942.57 $965.21
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 935.87 $970.16
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 170,564 $185,352.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 29,437.63 $33,830.37
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 15,439.72 $16,685.86
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 14,488.05 $15,966.22
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 148,274.86 $164,600.57
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 47,826.28 $52,139.96
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 157,290.77 $167,962.35
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 107,713.16 $116,353.83
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 99,153.06 $108,270.64
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 2.56 $2.56
3136AY6W8 FNA 2017-M15 A1 2.95933 09/25/2027 US 187,948.57 $204,324.87
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 118,051.09 $122,279.41
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 17,727.76 $20,712.48
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 725.95 $764.52
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 2,132.91 $2,474.97
3137A2B34 FHMS K009 X1 FLT 1.21114 08/25/2020 US 192,808.81 $200.96
3137ADTK3 FHMS K014 X1 FLT 1.14928 04/25/2021 US 4,286,071.92 $30,146.51
3137AJMG6 FMHS K016 X1 FLT 1.47797 10/25/2021 US 911,064.56 $14,965.51
3137AUPF0 FHMS K021 x1 FLT 1.41666 06/25/2022 US 6,145,484.94 $142,707.99
3137B3NB0 FHMS K030 X1 FLT 0.17807 04/25/2023 US 11,703,688.39 $53,700.03
3137B4GZ3 FHMS K032 X1 FLT 0.09354 05/25/2023 US 6,879,456.74 $21,922.08
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 121,560.19 $124,139.62
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 81,593.6 $83,061.19
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 72,461.53 $78,860.34
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 12,185.04 $13,162.50
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 31,835.38 $35,395.22
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 US 210,979.9 $246,916.34
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 188,718.85 $208,557.94
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 19,289.16 $22,526.04
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 3,247.88 $3,849.85
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 183,005.77 $197,725.54
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 35,042.01 $37,943.36
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 39,861.6 $43,074.19
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 136,133.05 $146,973.91
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 128,192.5 $144,247.96
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 80,266.44 $87,717.32
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 119,354.98 $128,978.68
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 72,772.41 $79,445.56
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 528.25 $539.22
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 650.33 $665.07
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 3,425.15 $3,464.03
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 3,828.4 $3,874.66
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 5,764.98 $6,636.72
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 2,243.72 $2,497.99
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 12,969.79 $15,081.71
31411RHZ4 FEDERAL NATL MTG ASSN 912948 5.00000 05/01/2038 US 1,725.56 $1,885.00
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 986.15 $1,096.36
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 6,499.46 $7,403.71
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 4,596.29 $5,301.36
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 994.72 $1,141.68
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 2,985.22 $3,396.40
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 1,704.22 $1,800.65
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 10,237.74 $10,795.00
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 1,836.93 $2,040.98
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 5,151.6 $5,893.18
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 2,009.01 $2,192.38
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 2,179.72 $2,208.43
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 5,354.68 $5,946.50
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 66,390.95 $73,026.72
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 71,403.77 $78,666.66
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 148,148.17 $160,915.39
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 95,515.27 $101,178.85
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 126,253.48 $134,216.94
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 123,823.3 $126,335.94
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,988.47 $10,401.21
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 31,322.65 $36,156.67
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 5,692.9 $6,621.33
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 22,068.9 $23,613.72
316067107 FIDELITY CASH RESERVES US 3,428.26 $3,428.26
32054K103 FIRST INDUSTRIAL REALTY TR US FR 214.67 $8,131.71
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 8,025.05 $7,866.16
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 188,588.75 $181,405.91
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 20,062.63 $22,269.52
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 8,025.05 $7,543.55
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 16,050.11 $15,247.60
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 20,062.63 $16,802.46
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 10,031.32 $9,178.65
357081AE8 FREMF 2015-K720 B FLT 3.39335 07/25/2022 US 40,125.27 $40,350.01
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 10,031.32 $9,145.15
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 46,144.06 $46,244.15
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 1,863.89 $1,867.23
36257MAA3 GSMS 2019-70P A 1.18363 10/15/2036 US 136,425.9 $131,639.47
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 11,922.97 $13,143.14
369550108 GENERAL DYNAMICS CORP US GD 282.88 $41,535.73
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 312,977.07 $240,116.01
370334104 GENERAL MLS INC US GIS 880.75 $55,522.45
37045VAP5 GENERAL MOTORS CO 5.15000 04/01/2038 US 12,037.58 $11,647.71
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 8,025.05 $7,502.62
374297109 GETTY REALTY CORP US GTY 242.76 $6,462.21
375558103 GILEAD SCIENCES INC US GILD 1,292.03 $100,558.97
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 159,132.22 $165,201.55
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 10,705.42 $154,907.44
398433AP7 GRIFFON CORPORATION 5.75000 03/01/2028 US 8,025.05 $7,971.29
4031976 ADIDAS AG DE ADS GR 329.03 $87,260.50
404119BX6 HCA INC 4.12500 06/15/2029 US 236,739.07 $257,243.38
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 4,012.53 $3,611.27
418751AB9 HAT HOLDINGS I LLC 6.00000 04/15/2025 US 18,056.37 $18,637.56
421946104 HEALTHCARE REALTY TRUST INC US HR 232.73 $7,144.70
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 214.67 $5,682.32
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 764.39 $18,834.48
427866108 HERSHEY CO/THE US HSY 262.02 $35,550.60
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 144.45 $11,456.41
437076102 HOME DEPOT INC US HD 662.87 $164,709.79
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,015.49 $52,503.57
438516106 HONEYWELL INTERNATIONAL INC US HON 601.88 $87,784.05
44107P104 HOST MARRIOTT CORP US HST 474.68 $5,667.70
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 16,050.11 $17,053.62
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 18,056.37 $18,447.47
452308109 ILLINOIS TOOL WKS INC US ITW 342.27 $59,027.63
45337C102 INCYTE CORP US INCY 477.49 $48,661.07
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 6,018.79 $5,823.18
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 8,025.05 $6,896.73
458140100 INTEL CORP US INTC 2,411.53 $151,757.49
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 858.68 $83,506.70
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 747.94 $93,417.08
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 14,043.84 $14,289.61
46187BAA1 IHSFR 2017-SFR2 A 1.03213 12/17/2036 US 58,658.53 $57,648.13
46187BAB9 IHSFR 2017-SFR2 B 1.33213 12/17/2036 US 48,150.32 $46,869.30
46187W107 INVITATION HOMES INC US INVH 1,286.42 $33,832.74
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 80,250.53 $79,963.46
46625H100 JP MORGAN CHASE & CO US JPM 1,385.93 $134,864.53
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 10,315.89 $10,314.78
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 75,715.98 $77,067.39
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 86,021.92 $89,089.80
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 98,488.12 $100,367.92
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 349,089.81 $360,200.96
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 88,727.61 $89,908.82
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 75,437.4 $76,788.64
476405105 JERNIGAN CAPITAL INC US JCAP 682.13 $8,233.30
478160104 JOHNSON & JOHNSON US JNJ 2,510.24 $373,397.70
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 10,031.32 $501.57
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 8,025.05 $8,466.43
49271VAJ9 KEURIG DR PEPPER INC 3.20000 05/01/2030 US 304,952.02 $332,076.58
49427F108 KILROY REALTY CORP US KRC 408.07 $23,309.18
494368103 KIMBERLY CLARK CORP US KMB 358.32 $50,680.59
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 252,789.18 $338,019.09
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,043.84 $14,324.72
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 10,031.32 $9,554.83
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 10,031.32 $8,526.62
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 8,025.05 $5,497.96
53223X107 LIFE STORAGE INC US LSI 54.17 $5,280.40
532457108 ELI LILLY & CO US LLY 508.39 $77,757.81
53627NAC5 LIONS GATE CAPITAL HOLD 6.37500 02/01/2024 US 6,018.79 $6,071.57
539830109 LOCKHEED MARTIN CORP US LMT 258.81 $100,531.37
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 18,056.37 $1,173.66
550021109 LULULEMON - ADR CA LULU 276.86 $83,085.60
57636Q104 MASTERCARD INC-CLASS A US MA 1,115.48 $335,637.50
58933Y105 MERCK & CO INC US MRK 1,710.54 $138,074.80
594918104 MICROSOFT CORP US MSFT 904.82 $165,809.14
595112103 MICRON TECHNOLOGY INC US MU 4,802.99 $230,111.46
59522J103 MID-AMERICA APARTMENT COMM US MAA 134.42 $15,641.07
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 4,275.35 $222,831.09
615369105 MOODY'S CORPORATION US MCO 240.75 $64,379.38
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 6,018.79 $3,165.28
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 4,012.53 $2,036.36
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 8,025.05 $7,904.68
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 14,043.84 $13,201.21
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 78,482.3 $78,877.22
63941RAB6 NAVSL 2019-2A A2 1.16825 02/27/2068 US 401,252.66 $382,975.44
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 98,767.62 $101,659.07
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 122,685.32 $126,229.79
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 160,488.06 $165,870.11
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 4,012.53 $4,142.93
65343HAA9 NEXSTAR BROADCASTING INC 5.62500 07/15/2027 US 12,037.58 $12,338.52
654106AJ2 NIKE INC 2.75000 03/27/2027 US 80,250.53 $87,816.23
6642321 NIKON CORP JP 7731 JP 7,864.55 $72,385.21
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 54,169.11 $541.69
66987V109 NOVARTIS AG- REG CH NVS 2,692.41 $235,397.00
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 6,018.79 $6,056.41
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 8,025.05 $7,618.61
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 16,050.11 $10,753.57
68389X105 ORACLE CORP US ORCL 1,564.08 $84,100.74
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 8,025.05 $6,740.96
69318UAB1 6.8750000 05/15/2023 6.87500 05/15/2023 US 12,037.58 $11,465.79
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 4,012.53 $3,706.57
693475105 PNC FINANCIAL SERVICES GROUP US PNC 324.21 $36,973.15
70450Y103 PAYPAL HOLDINGS INC US PYPL 991.09 $153,629.49
7123870 NESTLE SA-REGISTERED CH NESN SW 1,408.4 $152,919.58
713448108 PEPSICO INC US PEP 577.8 $76,010.09
717081103 PFIZER INC US PFE 3,841.59 $146,710.44
717081EW9 PFIZER INC 2.62500 04/01/2030 US 88,275.59 $96,459.49
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 14,043.84 $12,732.15
71943U104 PHYSICIANS REALTY TRUST US DOC 563.76 $9,736.13
723787107 PIONEER NATURAL RESOURCES CO US PXD 409.28 $37,489.84
73179PAM8 POLYONE CORP 5.75000 05/15/2025 US 10,031.32 $10,520.34
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 8,025.05 $8,085.24
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 469,465.61 $501,691.06
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 16,050.11 $15,207.48
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 120,152.16 $120,914.04
74340W103 PROLOGIS US PLD 935.72 $85,618.49
74460D109 PUBLIC STORAGE INC US PSA 136.43 $27,658.99
747525103 QUALCOMM INC US QCOM 736.7 $59,584.29
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 26,081.42 $24,330.84
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,255.92 $81,032.01
756109104 REALTY INCOME CORP US O 122.38 $6,768.95
758849103 REGENCY CENTERS CORP US REG 110.34 $4,721.64
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 335.05 $13,334.83
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 662.07 $20,153.32
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,801.62 $129,302.59
78409V104 S&P GLOBAL INC US SPGI 192.6 $62,599.27
78410G104 SBA COMMUNICATIONS CORP US SBAC 349.09 $109,659.58
78442PGC4 SLM CORP 5.12500 04/05/2022 US 18,056.37 $17,802.68
78443BAG1 SLMA 2006-10 A6 FLT 1.14138 03/25/2044 US 52,162.85 $47,469.55
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 263,748.89 $269,455.41
785592AU0 SABINE PASS LIQUEFACTION 4.20000 03/15/2028 US 124,388.32 $131,044.66
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 365,139.92 $419,487.91
79466L302 SALESFORCE.COM US CRM 662.07 $115,722.67
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 308,964.55 $331,875.05
806857108 SCHLUMBERGER LTD NL SLB 2,042.38 $37,722.69
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 10,031.32 $10,257.02
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 142,011.43 $146,600.23
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 91,891.75 $94,088.93
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 127,274.85 $131,150.69
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 95,180.59 $95,376.10
81762P102 SERVICENOW INC US NOW 212.66 $82,498.71
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 75,664.69 $75,736.12
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 27,466.72 $27,799.09
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 100,313.17 $103,136.02
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 82,175.08 $83,013.50
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 280,876.86 $285,469.34
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 18,056.37 $17,785.52
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,018.79 $6,307.99
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 12,037.58 $13,648.21
85254J102 STAG INDUSTRIAL INC US STAG 323.01 $8,688.93
855030AN2 STAPLES INC 7.50000 04/15/2026 US 8,025.05 $7,010.29
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 12,037.58 $11,796.83
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.65363 11/15/2027 US 355,646.93 $265,215.80
858912AF5 STERICYCLE INC 5.37500 07/15/2024 US 8,025.05 $8,205.62
862121100 STORE CAPITAL CORP US STOR 377.18 $7,294.61
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 119,136.96 $118,807.73
866674104 SUN COMMUNITIES US SUI 284.89 $39,083.98
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 463.45 $4,101.50
87105L104 SWITCH INC - A US SWCH 481.5 $9,201.53
872540AR0 TJX COS INC 3.50000 04/15/2025 US 200,626.33 $223,670.96
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 14,043.84 $14,185.69
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 41,688.03 $41,760.60
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,018.79 $1,339.18
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 312,977.07 $350,986.00
88146M101 TERRENO REALTY CORP US TRNO 94.29 $4,826.93
882508104 TEXAS INSTRUMENTS INC US TXN 797.29 $94,670.10
883556102 THERMO FISHER SCIENTIFIC INC US TMO 232.73 $81,265.78
88579Y101 3M CO US MMM 517.21 $80,913.06
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,479.26 $130,750.66
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 237,093.11 $239,562.80
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 107,937.37 $109,491.90
89177EAA7 TPMT 2019-HY1 A1 1.16825 10/25/2048 US 96,505.18 $95,288.38
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 10,031.32 $7,924.74
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 310,644.95 $312,216.01
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 199,736.03 $205,433.76
89832Q109 TRUIST FINANCIAL CORP US TFC 1,420.43 $52,243.58
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 34,106.48 $30,098.97
902653104 UDR INC US UDR 243.96 $9,021.70
902973304 U.S. BANCORP US USB 1,482.23 $52,708.00
904767704 UNILEVER PLC - ADR GB UL 6,679.25 $361,013.56
907818108 UNION PAC CORP US UNP 573.39 $97,396.03
912796SZ3 TREASURY BILL 0.00000 07/16/2020 US 321,002.13 $320,948.96
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,087,996.91 $1,240,743.59
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 786,805.39 $813,742.29
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 762,380.05 $816,461.39
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 563,759.99 $605,073.03
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 758,367.53 $825,524.53
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 754,355 $821,097.74
912828YN4 US TREASURY FRN FLT 0.45006 10/31/2021 US 1,339,381.38 $1,343,798.47
91704F104 URBAN EDGE PROPERTIES US UE 571.79 $5,574.90
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 60,187.9 $60,729.59
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 397,240.13 $533,301.52
92826C839 VISA INC - CLASS A SHARES US V 1,613.04 $314,929.09
92826CAK8 VISA INC 2.70000 04/15/2040 US 84,263.06 $89,441.38
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 20,062.63 $15,999.95
92840VAG7 VISTRA OPERATIONS CO LLC 3.70000 01/30/2027 US 10,031.32 $10,189.27
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 200,626.33 $208,973.04
93065PAA9 WBHT 2019-WBM A FLT 1.23363 12/15/2033 US 156,488.54 $145,115.48
931142103 WAL MART STORES US WMT 1,152.4 $142,966.45
94106L109 WASTE MANAGEMENT INC US WM 473.48 $50,543.79
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 8,025.05 $7,623.80
949746101 WELLS FARGO COMPANY US WFC 3,145.82 $83,269.88
95040Q104 WELLTOWER INC. US WELL 370.36 $18,765.95
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 6,018.79 $6,054.53
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 8,025.05 $942.94
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 280,876.86 $298,863.60
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 31,029.35 $31,141.81
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 119,906.91 $124,123.21
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 367.15 $16,863.02
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 160,501.06 $7,333.71
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 56,175.37 $42,817.07
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 441,377.93 $20,421.68
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 722,254.79 $32,559.04
B63QM77 NEXON CO LTD JP 3659 JP 13,923.47 $290,106.97
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 140,438.43 $7,000.36
BBG00T36KXJ4 BABA US 05/29/20 P195 CN -2.81 -$2.81
BBG00T7BRKC7 DIS US 05/29/20 C113 US -5.22 -$2,190.84
BBG00TF3H2M6 ATVI US 06/05/20 P70 US -8.83 -$529.65
BBG00TKX88P8 NOW US 06/12/20 P330 US -1.61 -$210.26
BBG00TPV7B53 CRM US 06/12/20 C187.5 US -3.21 -$362.73
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,743.93 $6,965.26
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 72,225.48 $81,074.76
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 3,001.37 $162,541.79
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,609.02 $75,085.29
G1151C101 ACCENTURE PLC - CL A IE ACN 367.95 $74,185.81
G29183103 EATON CORP PLC US ETN 503.57 $42,753.27
G5494J103 LINDE PLC GB LIN 327.82 $66,331.79
G5960L103 MEDTRONIC INC IE MDT 1,834.13 $180,808.13
H01301128 ALCON INC CH ALC 1,263.95 $80,311.12
H1467J104 CHUBB LTD CH CB 402.86 $49,124.46
USD US DOLLAR US 826,263.89 $826,263.89

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 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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