Investment Objective

To provide capital preservation, with income and capital growth as secondary objectives.

Investment Strategy

The portfolio is invested in a conservative mix of stocks, bonds, alternatives, and cash that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek to minimize declines in account value with the potential for modest capital growth and income generation
  • Who want to assume a minimal amount of capital risk through limited stock exposure

About Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 7-20 Years 15+ Years
15-45% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Learn more about our Pro-Blend® Series

Daily Price

$10.05

Daily $ Change

-$0.01

Daily % Change

-0.10%

as of 01/18/2018

Ticker

MNCCX

CUSIP

56382P633

Inception Date

01/04/2010

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-03/14/17

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

8.03%

3 Year

2.41%

5 Year

3.45%

10 Year

3.88%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

4.87%

Inception performance is based on the Pro-Blend® Conservative Term Series Class S inception of 11/01/1995. For periods through 01/04/2010 (the inception date of the Class R2 shares), performance for the Class R2 shares is hypothetical and is based on the historical performance of the Class S shares adjusted for the Class R2 shares’ charges and expenses. Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.70%*

Includes a 12b-1 fee of 1.00%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 12/31/2017

TREASURY NOTES 16.64%
GOVERNMENT AGENCY 10.63%
TREASURY BONDS 3.40%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 0.93%
KFW 1.50000 06/15/2021 0.90%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.89%
FACEBOOK INC -A 0.82%
SERVICENOW INC 0.77%
JOHNSON & JOHNSON 0.75%
DAVITA INC. 0.74%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Bonds 69.89%
Stocks 28.67%
Cash 1.44%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities 5.15%
Small Capitalization 1.04%
Mid Capitalization 3.48%
Large Capitalization 19.00%
Long Term Fixed Income 12.49%
Intermediate Term Fixed Income 46.21%
Short Term Fixed Income 11.19%
Cash 1.44%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 25,205 $675,998.10
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 268,000 $260,965.00
00206REM0 AT&T INC 3.90000 08/14/2027 US 4,669,000 $4,700,197.14
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 4,996,000 $4,917,862.56
00287Y109 ABBVIE INC US ABBV 13,857 $1,340,110.47
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 740,000 $779,775.00
004239109 ACADIA REALTY TRUST US AKR 4,240 $116,006.40
0045614 ANTOFAGASTA PLC GB ANTO LN 45,720 $617,039.81
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 5,090,000 $5,125,812.68
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 4,360,000 $4,578,953.97
008492100 AGREE REALTY CORP US ADC 2,150 $110,596.00
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 140,000 $147,700.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 377,000 $399,620.00
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 70,000 $63,140.00
013817AQ4 ALCOA INC 5.87000 02/23/2022 US 100,000 $108,250.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 3,420 $446,617.80
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,975,000 $3,973,997.43
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 254,000 $260,667.50
020002101 ALLSTATE CORPORATION US ALL 2,385 $249,733.35
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 150,000 $150,750.00
02079K107 ALPHABET INC-CL C US GOOG 1,625 $1,700,400.00
02079K305 ALPHABET INC-CL A US GOOGL 1,610 $1,695,974.00
023135106 AMAZON.COM INC US AMZN 2,900 $3,391,463.00
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 2,560,000 $2,563,858.00
02319V103 AMBEV SA-ADR BR ABEV 545,750 $3,525,545.00
0237400 DIAGEO PLC GB DGE LN 129,576 $4,749,515.68
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 245,000 $251,737.50
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,350 $178,480.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 16,015 $349,767.60
026874784 AMERICAN INTL GROUP INC US AIG 3,680 $219,254.40
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 3,630,000 $3,835,469.40
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 4,633,000 $4,717,949.21
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 5,200,000 $5,146,237.30
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 181,264.92 $185,036.25
031162100 AMGEN INC US AMGN 6,163 $1,071,745.70
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 164,000 $177,830.81
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 5,160,000 $5,125,527.18
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 3,280,000 $5,216,436.46
03748R101 APARTMENT INVT & MGMT CO -A US AIV 8,890 $388,581.90
03761U106 APOLLO INVESTMENT CORP US AINV 23,166 $131,119.56
037833100 APPLE COMPUTER INC US AAPL 4,704 $796,057.92
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 5,020,000 $5,105,834.57
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 70,000 $73,850.00
03965L100 ARCONIC INC. US ARNC 102,100 $2,782,225.00
04010L103 ARES CAPITAL CORP US ARCC 9,957 $156,524.04
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 29,565 $2,105,028.00
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 5,930,000 $6,389,016.99
053015103 AUTOMATIC DATA PROCESSING US ADP 5,017 $587,942.23
053484101 AVALONBAY COMMUNITIES INC US AVB 2,725 $486,167.25
054937107 BB & T CORPORATION US BBT 10,428 $518,480.16
055622104 BP PLC-SPONS ADR GB BP 28,469 $1,196,552.07
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 3,452,000 $3,586,528.13
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 1,131,000 $1,155,333.41
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 4,633,000 $4,550,422.80
058498106 BALL CORP US BLL 54,690 $2,070,016.50
060505104 BANK OF AMERICA CORP US BAC 47,245 $1,394,672.40
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,361,000 $3,496,655.91
06652K103 BANKUNITED INC US BKU 6,145 $250,224.40
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 2,080,000 $2,534,964.35
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 42,300 $3,771,891.00
09062X103 BIOGEN IDEC INC US BIIB 8,370 $2,666,430.90
09247X101 BLACKROCK INC US BLK 3,610 $1,854,493.10
09627J102 BLUEROCK RESIDENTIAL GROWTH US 9,325 $94,275.75
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 3,255,000 $3,630,792.09
097023105 BOEING CO US BA 4,699 $1,385,782.09
0989529 ASTRAZENECA PLC GB AZN LN 7,090 $489,248.69
101121101 BOSTON PROPERTIES INC US BXP 3,540 $460,306.20
105368203 BRANDYWINE REALTY TRUST US BDN 11,930 $217,006.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 40,205 $2,463,762.40
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 4,195 $78,278.70
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 5,731 $519,113.98
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 481,000 $453,342.50
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 33,000 $35,979.90
125896100 CMS ENERGY CORP US CMS 9,721 $459,803.30
12592TAA3 COMM 2015-3BP A FLT 3.17800 02/10/2035 US 500,000 $503,585.65
12626K203 CRH PLC -SPONSORED ADR IE CRH 11,991 $432,755.19
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 4,455,000 $4,535,546.40
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 472,000 $464,920.00
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 1,380,254.91 $1,313,021.31
126650100 CVS HEALTH CORP US CVS 9,268 $671,930.00
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 2,520,000 $2,577,085.06
133131102 CAMDEN PROPERTY TRUST US CPT 2,245 $206,674.70
134429109 CAMPBELL SOUP CO US CPB 13,015 $626,151.65
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 1,908,000 $1,884,308.94
14312QAB2 CARMX 2016-4 A2 1.21000 11/15/2019 US 1,567,266.51 $1,563,975.88
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 2,173,000 $2,161,247.55
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 74,081 $972,683.53
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 319,182.1 $317,985.17
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 498,000 $500,490.00
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 245,000 $244,387.50
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 100,000 $104,334.91
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 345,000 $351,037.50
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 315,000 $358,509.38
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 6,370,000 $6,349,510.90
165240102 CHESAPEAKE LODGING TRUST US CHSP 7,565 $204,935.85
166764100 CHEVRON CORP US CVX 6,191 $775,051.29
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 10,771 $790,268.27
17275R102 CISCO SYSTEMS INC US CSCO 37,531 $1,437,437.30
172967424 CITIGROUP INC US C 17,453 $1,298,677.73
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 4,606,000 $4,714,925.50
194162103 COLGATE-PALMOLIVE CO US CL 8,957 $675,805.65
19625JAA1 CAH 2015-1A A 2.63185 07/17/2032 US 1,889,198.62 $1,895,616.42
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 69,698 $795,254.18
198287203 COLUMBIA PROPERTY TRUST INC US CXP 5,085 $116,700.75
199908104 COMFORT SYSTEMS US FIX 12,940 $564,831.00
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 2,216,000 $2,422,740.43
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 28,107 $789,806.70
20825C104 CONOCOPHILLIPS US COP 9,175 $503,615.75
20826FAD8 CONOCOPHILLIPS COMPANY 3.35000 11/15/2024 US 2,562,000 $2,637,695.19
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 491,000 $505,713.21
21871N101 CORECIVIC INC US CXW 26,670 $600,075.00
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 5,070,000 $5,075,526.30
222795106 COUSINS PROPERTIES INC US CUZ 32,660 $302,105.00
22282E102 COVANTA HOLDING CORP US CVA 32,640 $551,616.00
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 1,445,000 $1,442,753.17
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 245,000 $246,225.00
22822V101 CROWN CASTLE INTL CORP US CCI 9,478 $1,052,152.78
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 958,085.9 $916,829.76
229663109 CUBESMART US CUBE 21,975 $635,517.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 50,810 $711,825.06
23918K108 DAVITA INC. US DVA 95,330 $6,887,592.50
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 345,000 $344,896.50
247361702 DELTA AIR LINES INC. US DAL 7,100 $397,600.00
25271C102 DIAMOND OFFSHORE DRILLING US DO 70,740 $1,315,056.60
253393102 DICK'S SPORTING GOODS INC US DKS 21,190 $609,000.60
253868103 DIGITAL REALTY TRUST INC US DLR 6,190 $705,041.00
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 3,890,000 $3,869,210.32
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 100,000 $100,500.00
256677105 DOLLAR GENERAL CORP US DG 12,300 $1,144,023.00
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 2,285,000 $2,315,814.46
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 2,161,000 $2,273,436.70
26078J100 DOWDUPONT INC US DWDP 13,125 $934,762.50
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 359,000 $361,692.50
26884U109 ENTERTAINMENT PROPERTIES TR US EPR 1,385 $90,662.10
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 2,570,000 $2,548,304.55
28140H203 EDUCATION REALTY TRUST INC US EDR 2,650 $92,538.01
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 4,587,000 $4,775,790.51
285512109 ELECTRONIC ARTS US EA 20,666 $2,171,169.96
2866857 LUNDIN MINING CORP CA LUN CN 91,740 $610,140.33
291011104 EMERSON ELEC CO US EMR 7,761 $540,864.09
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 2,540,000 $2,550,709.10
29372EBF4 ENTERPRISE FLEET FINANCING LLC 1.64000 03/20/2020 US 1,371,380.03 $1,370,199.68
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 498,134.3 $497,711.73
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 175,366.97 $175,018.99
29372EBT4 EFF 2016-2 A3 2.04000 02/22/2022 US 980,000 $974,684.28
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 351,000 $373,815.00
294429105 EQUIFAX INC US EFX 19,880 $2,344,249.60
29444U700 EQUINIX INC US EQIX 2,790 $1,264,483.80
294628102 EQUITY COMMONWEALTH US EQC 6,285 $191,755.35
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,835 $163,351.70
29476L107 EQUITY RESIDENTIAL US EQR 5,375 $342,763.75
297178105 ESSEX PROPERTY TRUST INC US ESS 415 $100,168.55
298736109 EURONET WORLDWIDE INC US EEFT 23,730 $1,999,727.10
30040W108 EVERSOURCE ENERGY US ES 6,476 $409,153.68
30161N101 EXELON CORP US EXC 6,900 $271,929.00
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 8,725,000 $8,647,949.53
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 28,420 $2,121,268.80
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 3,820,000 $3,853,788.17
30225T102 EXTRA SPACE STORAGE INC US EXR 3,655 $319,629.75
30231G102 EXXON MOBIL CORP US XOM 17,233 $1,441,368.12
302491303 FMC CORP US FMC 5,065 $479,452.90
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 244,102.1 $244,158.95
30262SAR9 FREMF 2015-K42 B FLT 3.85231 12/25/2024 US 490,000 $501,440.37
30263FAL9 FREMF MORTGAGE TRUST FLT 4.77381 04/25/2044 US 1,114,000 $1,114,282.40
30286XAN9 FREMF 2015-K43 B FLT 3.73450 02/25/2048 US 500,000 $508,097.30
30287EAE0 FREMF 2014-K41 B FLT 3.83172 11/25/2047 US 2,227,000 $2,276,989.25
30291EAE4 FREMF 2013-K712 B FLT 3.36178 05/25/2045 US 1,025,000 $1,034,118.50
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 203,393,028.57 $833,382.60
30291YAJ9 FREMF 2014-K716 B FLT 3.95041 08/25/2047 US 2,624,000 $2,693,917.00
30303M102 FACEBOOK INC -A US FB 42,860 $7,563,075.60
3128LCD86 FHLM POOL A78227 5.50000 06/01/2038 US 166,480.03 $183,906.35
3128M56M7 FHLM POOL G04176 5.50000 05/01/2038 US 144,220.23 $159,431.35
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 421,141.14 $474,338.19
3128M6JQ2 FHLM POOL G04471 5.50000 07/01/2038 US 48,064.91 $53,073.01
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 309,589.17 $342,089.91
3128M6T99 FHLM POOL G04776 5.50000 07/01/2038 US 317,468.13 $350,153.74
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 82,200.96 $92,812.07
3128M74G8 FHLM POOL G05923 5.50000 02/01/2040 US 244,076.17 $269,831.03
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 406,887.92 $449,599.72
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 361,063.63 $398,961.02
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 346,714.88 $389,722.53
3128M9GM8 FHLM POOL G07104 5.50000 05/01/2040 US 277,915.79 $307,235.79
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 140,181.4 $155,909.19
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 48,433.57 $50,836.22
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 34,243.61 $35,913.73
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 45,876.9 $48,301.13
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 2,256,253.45 $2,407,280.67
3128MJG20 FHLM POOL G08216 5.50000 08/01/2037 US 360,386.97 $398,114.59
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 385,701.64 $426,328.74
3128MJZU7 FHLM POOL G08754 4.50000 03/01/2047 US 1,638,910.81 $1,741,729.01
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 159,769.06 $171,485.62
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 911,013.97 $976,679.95
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 1,238,607.63 $1,328,666.16
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 644,927.93 $682,775.70
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 1,964,660.07 $2,079,980.43
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,490,312.04 $1,590,228.27
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 1,493,917.72 $1,593,902.47
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 2,008,368.77 $2,072,566.94
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 954,206.64 $1,008,413.66
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 1,729,904.41 $1,785,128.01
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 2,354,544.89 $2,475,767.22
3132QVKA8 FHLM POOL Q38388 4.00000 01/01/2046 US 364,041.78 $383,431.32
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 2,559,369.67 $2,632,279.84
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 1,787,618.27 $1,869,544.71
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 1,881,293.81 $1,967,515.80
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 1,356,071.42 $1,421,525.26
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 1,279,735.26 $1,365,216.10
31335AV54 FHLM POOL G60636 4.00000 01/01/2046 US 1,646,211.79 $1,721,712.63
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 64,884.25 $66,229.07
3135G0ZR7 FEDERAL NATL MTG ASSN 2.62500 09/06/2024 US 18,393,000 $18,637,902.80
31371N7J8 FEDERAL NATL MTG ASSN 123456 6.00000 12/01/2038 US 21,422.42 $23,969.66
3137A2B34 FHMS K009 X1 FLT 1.30017 08/25/2020 US 20,786,643.28 $591,673.09
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7591EP100 REGIONS FINANCIAL CORP. US RF 15,235 $263,260.80
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 6,395 $186,478.20
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 70,000 $63,175.00
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 468,000 $490,230.00
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 104,000 $114,520.91
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 7,805 $533,003.45
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.42703 11/15/2026 US 3,608,000 $3,596,183.44
78442FET1 SLM CORP 6.12500 03/25/2024 US 250,000 $253,125.00
78442PGC4 SLM CORP 5.12500 04/05/2022 US 385,000 $400,400.00
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 1,400,000 $1,391,504.80
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,280,000 $2,561,507.59
80105N105 SANOFI-AVENTIS-ADR FR SNY 23,684 $1,018,412.00
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 3,540,000 $3,526,206.50
806857108 SCHLUMBERGER LTD NL SLB 57,230 $3,856,729.70
808524797 SCHWAB US DVD EQUITY ETF US 11,827 $605,187.59
81211K100 SEALED AIR CORP US SEE 66,110 $3,259,223.00
812578102 SEATTLE GENETICS INC US SGEN 64,490 $3,450,215.00
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 341,000 $335,885.00
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 910,646.6 $908,369.98
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 1,114,450.39 $1,109,291.60
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 916,757.41 $865,906.25
81762P102 SERVICENOW INC US NOW 54,980 $7,168,842.20
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 241,000 $243,410.00
828806109 SIMON PROPERTY GROUP INC US SPG 4,935 $847,536.90
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 105,000 $105,262.50
83088M102 SKYWORKS SOLUTIONS INC US SWKS 71,495 $6,788,450.25
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 1,067,189.71 $1,069,601.88
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 4,681,106.16 $4,720,073.09
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 675,000 $673,246.42
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 500,000 $500,666.75
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 870,142.05 $865,938.83
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 251,851.92 $250,834.14
83405JAA3 SCLP 2017-4 A 2.50000 05/26/2026 US 898,712.59 $895,766.16
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 2,684,859.33 $2,677,847.28
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 2,490,000 $2,542,557.18
835495102 SONOCO PRODUCTS CO US SON 14,452 $767,979.28
84265V105 SOUTHERN COPPER CORPORATION US SCCO 21,800 $1,034,410.00
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 2,318,000 $2,403,834.78
844741108 SOUTHWEST AIRLS CO US LUV 6,300 $412,335.00
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 263,000 $273,191.25
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 104,000 $109,470.40
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 104,000 $110,240.00
85254J102 STAG INDUSTRIAL INC US STAG 19,160 $523,642.80
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 190,000 $188,575.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.69703 11/15/2027 US 2,172,570.04 $2,174,129.29
862121100 STORE CAPITAL CORP US STOR 16,317 $424,894.68
866674104 SUN COMMUNITIES US SUI 2,055 $190,662.90
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 11,830 $195,549.90
867914103 SUNTRUST BANKS INC US STI 3,870 $249,963.30
871829107 SYSCO CORP US SYY 7,127 $432,822.71
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 40,040 $1,587,586.00
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 481,000 $493,626.25
87612E106 TARGET CORP US TGT 7,186 $468,886.50
876664103 TAUBMAN CTRS INC US TCO 1,400 $91,602.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 587,317.62 $587,952.86
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 345,000 $282,900.00
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 104,000 $105,040.00
88146M101 TERRENO REALTY CORP US TRNO 5,260 $184,415.60
882508104 TEXAS INSTRUMENTS INC US TXN 36,402 $3,801,824.88
88579Y101 3M CO US MMM 8,769 $2,063,959.53
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 2,369,436.67 $2,352,379.81
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 1,809,000 $1,783,584.27
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,845,000 $1,837,424.43
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 359,000 $341,050.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 359,000 $385,925.00
902653104 UDR INC US UDR 6,850 $263,862.00
902973304 U.S. BANCORP US USB 16,497 $883,909.26
903002103 UMH PROPERTIES INC US UMH 9,370 $139,613.00
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 525,000 $528,622.50
904767704 UNILEVER PLC - ADR GB UL 69,339 $3,837,220.26
907818108 UNION PAC CORP US UNP 7,182 $963,106.20
911312106 UNITED PARCEL SERVICE US UPS 8,255 $983,583.25
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 6,958,000 $9,782,241.35
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 10,174,000 $13,554,073.02
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 4,666,238.85 $4,711,653.81
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 8,548,000 $8,148,982.01
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 27,869,000 $27,782,998.22
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 8,236,174.02 $8,219,283.69
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 28,350,500 $27,999,441.15
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 29,123,000 $28,492,760.22
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 43,427,000 $41,995,266.09
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 4,582,606.03 $4,547,016.36
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 28,481,300 $27,990,665.18
913017109 UNITED TECHNOLOGIES CORP US UTX 7,063 $901,026.91
91704F104 URBAN EDGE PROPERTIES US UE 14,315 $364,889.35
918370AB3 VTR FINANCE BV 6.87500 01/15/2024 NL 345,000 $363,975.00
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 70,000 $73,500.00
91913Y100 VALERO ENERGY US VLO 5,982 $549,805.62
92276F100 VENTAS INC US VTR 2,920 $175,229.20
92339V100 VEREIT INC US VER 27,540 $214,536.60
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 4,606,000 $4,802,735.89
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 17,580 $2,634,538.80
92826C839 VISA INC - CLASS A SHARES US V 31,000 $3,534,620.00
92826CAC6 VISA INC 2.80000 12/14/2022 US 3,790,000 $3,845,525.93
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 155,000 $160,501.96
929042109 VORNADO REALTY TRUST US VNO 5,430 $424,517.40
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 857,413.08 $908,442.62
931142103 WAL MART STORES US WMT 20,400 $2,014,500.00
94106L109 WASTE MANAGEMENT INC US WM 11,547 $996,506.10
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 309,000 $307,455.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 350,000 $348,250.00
949746101 WELLS FARGO COMPANY US WFC 48,772 $2,958,997.24
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 265,000 $277,206.77
95040Q104 WELLTOWER INC. US HCN 5,230 $333,517.10
962166104 WEYERHAEUSER CO US WY 90,511 $3,191,417.86
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 245,000 $249,900.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 209,000 $223,107.50
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 3,655,000 $3,662,596.81
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 1,112,384.92 $1,123,117.21
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 1,197,587.36 $1,216,112.84
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 268,000 $271,350.00
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 73,060 $2,688,608.00
98954UAB9 ZIGGO BOND FINANCE BV 6.00000 01/15/2027 NL 150,000 $146,250.00
AP0787667 MPC CONTAINER SHIPS FLT 6.40793 09/22/2022 NL 200,000 $196,286.00
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 240,000 $238,814.40
B15C557 TOTAL SA FR FP FP 6,253 $345,164.20
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 332,000 $452,014.15
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 755 $189,996.69
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 268,000 $218,293.14
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 2,725,000 $133,855.88
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 327,000 $270,189.93
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,996,000 $243,215.32
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 590,000 $446,286.07
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 309,000 $247,202.46
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,267,000 $372,580.43
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $46,204.67
B6WY4Z4 BONOS TESORERIA PESOS 6.00000 01/01/2018 CL 330,000,000 $536,196.38
BBG00B6C5VY1 REGN US 01/19/18 P350 US -29 -$4,292.00
BBG00BKPTRR7 LULU US 01/19/18 C80 CA -131 -$23,973.00
BBG00J640583 MDT US 12/29/17 P77.5 IE -135 -$405.00
BBG00JG6RS79 SWKS US 12/29/17 C97.5 US -108 -$540.00
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 200,000 $199,500.00
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 96,180 $175,871.47
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 35,510 $1,837,924.97
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 4,110 $90,835.81
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 28,510 $3,182,887.95
G29183103 EATON CORP PLC US ETN 6,126 $484,015.26
G3157S106 ENSCO INTERNATIONAL INC US ESV 104,795 $619,338.45
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 345,000 $364,837.50
G5960L103 MEDTRONIC INC IE MDT 63,681 $5,142,240.75
G6518L108 NIELSEN HOLDINGS PLC US NLSN 104,903 $3,818,469.20
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 1,585 $238,843.65
G97822103 PERRIGO CO PLC IE PRGO 6,251 $544,837.16
H1467J104 CHUBB LTD CH CB 2,485 $363,133.05
H8817H100 TRANSOCEAN LTD US RIG 156,278 $1,669,049.04
N47279109 INTERXION HOLDING NX NL INXN 5,990 $352,990.70
N53745100 LYONDELLBASELL INDU-CL A US LYB 5,122 $565,059.04
USD US DOLLAR US 13,546,055.05 $13,546,055.05

Investments will change over time.

Investments will change over time.

Daily Price

$10.05

Daily $ Change

-$0.01

Daily % Change

-0.10%

as of 01/18/2018

Ticker

MNCCX

CUSIP

56382P633

Inception Date

01/04/2010

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-03/14/17

Investment Objective

To provide capital preservation, with income and capital growth as secondary objectives.

Investment Strategy

The portfolio is invested in a conservative mix of stocks, bonds, alternatives, and cash that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek to minimize declines in account value with the potential for modest capital growth and income generation
  • Who want to assume a minimal amount of capital risk through limited stock exposure

About Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 7-20 Years 15+ Years
15-45% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Learn more about our Pro-Blend® Series

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

8.03%

3 Year

2.41%

5 Year

3.45%

10 Year

3.88%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

4.87%

Inception performance is based on the Pro-Blend® Conservative Term Series Class S inception of 11/01/1995. For periods through 01/04/2010 (the inception date of the Class R2 shares), performance for the Class R2 shares is hypothetical and is based on the historical performance of the Class S shares adjusted for the Class R2 shares’ charges and expenses. Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.70%*

Includes a 12b-1 fee of 1.00%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 12/31/2017

TREASURY NOTES 16.64%
GOVERNMENT AGENCY 10.63%
TREASURY BONDS 3.40%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 0.93%
KFW 1.50000 06/15/2021 0.90%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.89%
FACEBOOK INC -A 0.82%
SERVICENOW INC 0.77%
JOHNSON & JOHNSON 0.75%
DAVITA INC. 0.74%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Bonds
69.89%
Stocks
28.67%
Cash
1.44%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities
5.15%
Small Capitalization
1.04%
Mid Capitalization
3.48%
Large Capitalization
19.00%
Long Term Fixed Income
12.49%
Intermediate Term Fixed Income
46.21%
Short Term Fixed Income
11.19%
Cash
1.44%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 25,205 $675,998.10
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 268,000 $260,965.00
00206REM0 AT&T INC 3.90000 08/14/2027 US 4,669,000 $4,700,197.14
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 4,996,000 $4,917,862.56
00287Y109 ABBVIE INC US ABBV 13,857 $1,340,110.47
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 740,000 $779,775.00
004239109 ACADIA REALTY TRUST US AKR 4,240 $116,006.40
0045614 ANTOFAGASTA PLC GB ANTO LN 45,720 $617,039.81
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 5,090,000 $5,125,812.68
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 4,360,000 $4,578,953.97
008492100 AGREE REALTY CORP US ADC 2,150 $110,596.00
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 140,000 $147,700.00
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 377,000 $399,620.00
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 70,000 $63,140.00
013817AQ4 ALCOA INC 5.87000 02/23/2022 US 100,000 $108,250.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 3,420 $446,617.80
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,975,000 $3,973,997.43
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 254,000 $260,667.50
020002101 ALLSTATE CORPORATION US ALL 2,385 $249,733.35
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 150,000 $150,750.00
02079K107 ALPHABET INC-CL C US GOOG 1,625 $1,700,400.00
02079K305 ALPHABET INC-CL A US GOOGL 1,610 $1,695,974.00
023135106 AMAZON.COM INC US AMZN 2,900 $3,391,463.00
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 2,560,000 $2,563,858.00
02319V103 AMBEV SA-ADR BR ABEV 545,750 $3,525,545.00
0237400 DIAGEO PLC GB DGE LN 129,576 $4,749,515.68
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 245,000 $251,737.50
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,350 $178,480.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 16,015 $349,767.60
026874784 AMERICAN INTL GROUP INC US AIG 3,680 $219,254.40
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 3,630,000 $3,835,469.40
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 4,633,000 $4,717,949.21
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 5,200,000 $5,146,237.30
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 181,264.92 $185,036.25
031162100 AMGEN INC US AMGN 6,163 $1,071,745.70
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 164,000 $177,830.81
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 5,160,000 $5,125,527.18
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 3,280,000 $5,216,436.46
03748R101 APARTMENT INVT & MGMT CO -A US AIV 8,890 $388,581.90
03761U106 APOLLO INVESTMENT CORP US AINV 23,166 $131,119.56
037833100 APPLE COMPUTER INC US AAPL 4,704 $796,057.92
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 5,020,000 $5,105,834.57
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 70,000 $73,850.00
03965L100 ARCONIC INC. US ARNC 102,100 $2,782,225.00
04010L103 ARES CAPITAL CORP US ARCC 9,957 $156,524.04
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 29,565 $2,105,028.00
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 5,930,000 $6,389,016.99
053015103 AUTOMATIC DATA PROCESSING US ADP 5,017 $587,942.23
053484101 AVALONBAY COMMUNITIES INC US AVB 2,725 $486,167.25
054937107 BB & T CORPORATION US BBT 10,428 $518,480.16
055622104 BP PLC-SPONS ADR GB BP 28,469 $1,196,552.07
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 3,452,000 $3,586,528.13
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 1,131,000 $1,155,333.41
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 4,633,000 $4,550,422.80
058498106 BALL CORP US BLL 54,690 $2,070,016.50
060505104 BANK OF AMERICA CORP US BAC 47,245 $1,394,672.40
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,361,000 $3,496,655.91
06652K103 BANKUNITED INC US BKU 6,145 $250,224.40
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 2,080,000 $2,534,964.35
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 42,300 $3,771,891.00
09062X103 BIOGEN IDEC INC US BIIB 8,370 $2,666,430.90
09247X101 BLACKROCK INC US BLK 3,610 $1,854,493.10
09627J102 BLUEROCK RESIDENTIAL GROWTH US 9,325 $94,275.75
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 3,255,000 $3,630,792.09
097023105 BOEING CO US BA 4,699 $1,385,782.09
0989529 ASTRAZENECA PLC GB AZN LN 7,090 $489,248.69
101121101 BOSTON PROPERTIES INC US BXP 3,540 $460,306.20
105368203 BRANDYWINE REALTY TRUST US BDN 11,930 $217,006.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 40,205 $2,463,762.40
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 4,195 $78,278.70
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 5,731 $519,113.98
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31428X106 FEDEX CORPORATION US FDX 10,705 $2,671,325.70
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370334104 GENERAL MLS INC US GIS 7,275 $431,334.75
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374297109 GETTY REALTY CORP US GTY 5,300 $143,948.00
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37954A204 GLOBAL MEDICAL REIT INC US GMRE 50,765 $416,273.00
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 2,470,000 $2,581,470.83
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 56,671 $875,566.95
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 370,000 $381,100.00
404119BM0 HCA INC 3.75000 03/15/2019 US 104,000 $104,910.00
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 104,000 $110,240.00
40414L109 HCP INC US HCP 13,710 $357,556.80
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 240,000 $246,000.00
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 7,450 $223,798.00
42809H107 HESS CORP US HES 23,976 $1,138,140.72
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 349,000 $356,852.50
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 254,000 $259,003.80
437076102 HOME DEPOT INC US HD 9,847 $1,866,301.91
437302AA0 HOME PARTNERS OF AMERICA FLT RT 3.10951 03/17/2033 US 945,088.53 $950,803.39
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 19,995 $681,429.60
438516106 HONEYWELL INTERNATIONAL INC US HON 6,606 $1,013,096.16
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 400,000 $422,500.00
44107P104 HOST MARRIOTT CORP US HST 9,375 $186,093.75
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 564,000 $575,280.00
446150104 HUNTINGTON BANCSHARES US HBAN 16,705 $243,224.80
44891GAD6 HALST 2017-B A3 1.97000 07/15/2020 US 3,900,000 $3,889,179.45
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 336,000 $338,100.00
45337C102 INCYTE CORP US INCY 26,640 $2,523,074.40
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 15,120 $152,560.80
456788108 INFOSYS LIMITED-SP ADR IN INFY 28,144 $456,495.68
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 590,000 $588,525.00
458140100 INTEL CORP US INTC 50,714 $2,340,958.24
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 7,712 $1,183,175.04
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 254,000 $266,167.76
46115HAL1 INTESA SANPAOLO SPA 3.87500 01/15/2019 IT 2,520,000 $2,553,620.45
46115HAT4 INTESA SANPAOLO SPA 5.01700 06/26/2024 IT 200,000 $204,784.56
46186YAA2 IHSFR 2015-SFR3 A FLT 2.75951 08/17/2032 US 2,116,140.75 $2,129,367.90
46187BAA1 IHSFR 2017-SFR2 A 2.34078 12/17/2036 US 766,782.35 $769,243.49
46187BAB9 IHSFR 2017-SFR2 B 2.64078 12/17/2036 US 570,000 $571,074.62
46187W107 INVITATION HOMES INC US INVH 14,045 $331,040.65
46434V621 ISHARES CORE DIVIDEND GROWTH US 17,395 $604,998.10
466032109 J&J SNACK FOODS CORP US JJSF 3,417 $518,803.11
46625H100 JP MORGAN CHASE & CO US JPM 34,207 $3,658,096.58
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 755,889.94 $754,354.73
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 813,281.86 $826,392.78
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 1,132,343.99 $1,139,200.33
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 4,787,000 $4,791,639.66
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 1,500,000 $1,520,507.85
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 2,400,000 $2,431,875.12
478160104 JOHNSON & JOHNSON US JNJ 49,989 $6,984,463.08
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 495,000 $498,712.50
485170302 KANSAS CITY SOUTHERN US KSU 7,799 $820,610.78
493267108 KEYCORP US KEY 23,778 $479,602.26
494368103 KIMBERLY CLARK CORP US KMB 4,073 $491,448.18
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500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 12,070 $456,246.00
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 200,000 $195,527.48
500630CR7 KOREA DEVELOPMENT BANK FLT 2.28831 09/19/2020 KR 3,000,000 $2,997,122.37
500769GZ1 KFW 1.50000 06/15/2021 DE 8,539,000 $8,327,098.23
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 236,000 $240,130.00
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 41,031.84 $40,931.81
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 350,000 $360,500.00
512816109 LAMAR ADVERTISING CO US LAMR 5,465 $405,721.60
517942108 LASALLE HOTEL PROPERTIES US LHO 4,460 $125,192.20
53223X107 LIFE STORAGE INC US LSI 2,055 $183,038.85
532457108 ELI LILLY & CO US LLY 5,802 $490,036.92
534187109 LINCOLN NATL CORP IND US LNC 3,180 $244,446.60
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 4,637,000 $4,862,133.26
539830109 LOCKHEED MARTIN CORP US LMT 2,816 $904,076.80
550021109 LULULEMON - ADR CA LULU 39,390 $3,095,660.10
554382101 THE MACERICH CO US MAC 2,710 $177,992.80
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 3,560,000 $3,783,433.79
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 386,000 $374,420.00
5671735 SANOFI-AVENTIS FR SAN FP 5,183 $446,213.43
57636Q104 MASTERCARD INC-CLASS A US MA 22,720 $3,438,899.20
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 355,000 $364,886.75
580135101 MCDONALDS CORP US MCD 6,549 $1,127,213.88
58503F106 MEDLEY CAPITAL CORP US MCC 18,385 $95,969.70
58933Y105 MERCK & CO INC US MRK 29,609 $1,666,098.43
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 245,000 $249,287.50
594918104 MICROSOFT CORP US MSFT 43,692 $3,737,413.68
59522J103 MID-AMERICA APARTMENT COMM US MAA 3,515 $353,468.40
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 3,560,000 $3,895,500.63
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 3,790,000 $3,869,698.66
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 240,000 $237,300.00
624758108 MUELLER WATER PRODUCTS INC - A US MWA 39,940 $500,448.20
62942M201 NTT DOCOMO INC -SPON ADR JP DCM 39,275 $933,566.75
62944TAE5 NVR INC 3.95000 09/15/2022 US 4,000,000 $4,175,667.44
637417106 NATIONAL RETAIL PROPERTIES US NNN 4,870 $210,043.10
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 1,034,258.73 $1,056,592.82
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 1,109,857.78 $1,136,770.17
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 1,420,807.22 $1,451,767.46
654106103 NIKE INC CLASS B US NKE 6,085 $380,616.75
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 660,000 $681,450.00
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 259,000 $258,352.50
66987V109 NOVARTIS AG- REG CH NVS 57,095 $4,793,696.20
67054LAC1 NUMERICABLE-SFR SAS 6.25000 05/15/2024 FR 200,000 $200,500.00
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 2,555 $614,579.70
67401P108 OAKTREE SPECIALTY LENDING CO US OCSL 24,511 $119,858.79
680223104 OLD REPUBLIC INTL CORP US ORI 11,485 $245,549.30
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 2,089,000 $2,089,859.12
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 2,044,000 $2,018,349.44
69007J106 OUTFRONT MEDIA INC US OUT 16,270 $377,464.00
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 345,000 $356,212.50
69318FAG3 PBF HOLDING CO LLC 7.25000 06/15/2025 US 263,000 $276,150.00
693475105 PNC FINANCIAL SERVICES GROUP US PNC 1,819 $262,463.51
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 191,000 $182,405.00
708062104 PENNANTPARK INVESTMENT CORP US PNNT 17,659 $122,023.69
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 2,047 $517,594.95
713448108 PEPSICO INC US PEP 14,914 $1,788,486.88
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 2,490,000 $2,549,659.53
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 200,000 $202,900.00
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 2,290,000 $2,596,287.50
717081103 PFIZER INC US PFE 44,723 $1,619,867.06
71943U104 PHYSICIANS REALTY TRUST US DOC 19,815 $356,471.85
729640102 PLYMOUTH INDUSTRIAL REIT INC US 2,685 $49,618.80
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 394,000 $409,760.00
741503403 PRICELINE GROUP INC US PCLN 3,890 $6,759,808.60
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 4,619,000 $4,638,782.58
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 3,516 $248,088.96
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 1,500,000 $1,487,820.75
74340W103 PROLOGIS US PLD 9,545 $615,747.95
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 2,330,000 $2,545,525.00
74460D109 PUBLIC STORAGE INC US PSA 1,295 $270,655.00
74736K101 QORVO INC US QRVO 71,920 $4,789,872.00
747525103 QUALCOMM INC US QCOM 15,860 $1,015,357.20
749685103 RPM INTERNATIONAL INC US RPM 15,126 $792,904.92
755111507 RAYTHEON COMPANY US RTN 3,470 $651,839.50
758849103 REGENCY CENTERS CORP US REG 3,213 $222,275.34
75886F107 REGENERON PHARMACEUTICALS INC US REGN 11,650 $4,379,934.00
7591EP100 REGIONS FINANCIAL CORP. US RF 15,235 $263,260.80
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 6,395 $186,478.20
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 70,000 $63,175.00
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 468,000 $490,230.00
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 104,000 $114,520.91
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 7,805 $533,003.45
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.42703 11/15/2026 US 3,608,000 $3,596,183.44
78442FET1 SLM CORP 6.12500 03/25/2024 US 250,000 $253,125.00
78442PGC4 SLM CORP 5.12500 04/05/2022 US 385,000 $400,400.00
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 1,400,000 $1,391,504.80
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,280,000 $2,561,507.59
80105N105 SANOFI-AVENTIS-ADR FR SNY 23,684 $1,018,412.00
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 3,540,000 $3,526,206.50
806857108 SCHLUMBERGER LTD NL SLB 57,230 $3,856,729.70
808524797 SCHWAB US DVD EQUITY ETF US 11,827 $605,187.59
81211K100 SEALED AIR CORP US SEE 66,110 $3,259,223.00
812578102 SEATTLE GENETICS INC US SGEN 64,490 $3,450,215.00
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 341,000 $335,885.00
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 910,646.6 $908,369.98
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 1,114,450.39 $1,109,291.60
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 916,757.41 $865,906.25
81762P102 SERVICENOW INC US NOW 54,980 $7,168,842.20
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 241,000 $243,410.00
828806109 SIMON PROPERTY GROUP INC US SPG 4,935 $847,536.90
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 105,000 $105,262.50
83088M102 SKYWORKS SOLUTIONS INC US SWKS 71,495 $6,788,450.25
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 1,067,189.71 $1,069,601.88
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 4,681,106.16 $4,720,073.09
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 675,000 $673,246.42
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 500,000 $500,666.75
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 870,142.05 $865,938.83
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 251,851.92 $250,834.14
83405JAA3 SCLP 2017-4 A 2.50000 05/26/2026 US 898,712.59 $895,766.16
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 2,684,859.33 $2,677,847.28
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 2,490,000 $2,542,557.18
835495102 SONOCO PRODUCTS CO US SON 14,452 $767,979.28
84265V105 SOUTHERN COPPER CORPORATION US SCCO 21,800 $1,034,410.00
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 2,318,000 $2,403,834.78
844741108 SOUTHWEST AIRLS CO US LUV 6,300 $412,335.00
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 263,000 $273,191.25
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 104,000 $109,470.40
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 104,000 $110,240.00
85254J102 STAG INDUSTRIAL INC US STAG 19,160 $523,642.80
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 190,000 $188,575.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.69703 11/15/2027 US 2,172,570.04 $2,174,129.29
862121100 STORE CAPITAL CORP US STOR 16,317 $424,894.68
866674104 SUN COMMUNITIES US SUI 2,055 $190,662.90
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 11,830 $195,549.90
867914103 SUNTRUST BANKS INC US STI 3,870 $249,963.30
871829107 SYSCO CORP US SYY 7,127 $432,822.71
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 40,040 $1,587,586.00
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 481,000 $493,626.25
87612E106 TARGET CORP US TGT 7,186 $468,886.50
876664103 TAUBMAN CTRS INC US TCO 1,400 $91,602.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 587,317.62 $587,952.86
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 345,000 $282,900.00
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 104,000 $105,040.00
88146M101 TERRENO REALTY CORP US TRNO 5,260 $184,415.60
882508104 TEXAS INSTRUMENTS INC US TXN 36,402 $3,801,824.88
88579Y101 3M CO US MMM 8,769 $2,063,959.53
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 2,369,436.67 $2,352,379.81
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 1,809,000 $1,783,584.27
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,845,000 $1,837,424.43
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 359,000 $341,050.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 359,000 $385,925.00
902653104 UDR INC US UDR 6,850 $263,862.00
902973304 U.S. BANCORP US USB 16,497 $883,909.26
903002103 UMH PROPERTIES INC US UMH 9,370 $139,613.00
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 525,000 $528,622.50
904767704 UNILEVER PLC - ADR GB UL 69,339 $3,837,220.26
907818108 UNION PAC CORP US UNP 7,182 $963,106.20
911312106 UNITED PARCEL SERVICE US UPS 8,255 $983,583.25
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 6,958,000 $9,782,241.35
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 10,174,000 $13,554,073.02
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 4,666,238.85 $4,711,653.81
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 8,548,000 $8,148,982.01
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 27,869,000 $27,782,998.22
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 8,236,174.02 $8,219,283.69
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 28,350,500 $27,999,441.15
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 29,123,000 $28,492,760.22
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 43,427,000 $41,995,266.09
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 4,582,606.03 $4,547,016.36
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 28,481,300 $27,990,665.18
913017109 UNITED TECHNOLOGIES CORP US UTX 7,063 $901,026.91
91704F104 URBAN EDGE PROPERTIES US UE 14,315 $364,889.35
918370AB3 VTR FINANCE BV 6.87500 01/15/2024 NL 345,000 $363,975.00
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 70,000 $73,500.00
91913Y100 VALERO ENERGY US VLO 5,982 $549,805.62
92276F100 VENTAS INC US VTR 2,920 $175,229.20
92339V100 VEREIT INC US VER 27,540 $214,536.60
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 4,606,000 $4,802,735.89
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 17,580 $2,634,538.80
92826C839 VISA INC - CLASS A SHARES US V 31,000 $3,534,620.00
92826CAC6 VISA INC 2.80000 12/14/2022 US 3,790,000 $3,845,525.93
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 155,000 $160,501.96
929042109 VORNADO REALTY TRUST US VNO 5,430 $424,517.40
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 857,413.08 $908,442.62
931142103 WAL MART STORES US WMT 20,400 $2,014,500.00
94106L109 WASTE MANAGEMENT INC US WM 11,547 $996,506.10
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 309,000 $307,455.00
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 350,000 $348,250.00
949746101 WELLS FARGO COMPANY US WFC 48,772 $2,958,997.24
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 265,000 $277,206.77
95040Q104 WELLTOWER INC. US HCN 5,230 $333,517.10
962166104 WEYERHAEUSER CO US WY 90,511 $3,191,417.86
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 245,000 $249,900.00
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 209,000 $223,107.50
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 3,655,000 $3,662,596.81
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 1,112,384.92 $1,123,117.21
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 1,197,587.36 $1,216,112.84
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 268,000 $271,350.00
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 73,060 $2,688,608.00
98954UAB9 ZIGGO BOND FINANCE BV 6.00000 01/15/2027 NL 150,000 $146,250.00
AP0787667 MPC CONTAINER SHIPS FLT 6.40793 09/22/2022 NL 200,000 $196,286.00
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 240,000 $238,814.40
B15C557 TOTAL SA FR FP FP 6,253 $345,164.20
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 332,000 $452,014.15
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 755 $189,996.69
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 268,000 $218,293.14
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 2,725,000 $133,855.88
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 327,000 $270,189.93
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,996,000 $243,215.32
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 590,000 $446,286.07
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 309,000 $247,202.46
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,267,000 $372,580.43
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $46,204.67
B6WY4Z4 BONOS TESORERIA PESOS 6.00000 01/01/2018 CL 330,000,000 $536,196.38
BBG00B6C5VY1 REGN US 01/19/18 P350 US -29 -$4,292.00
BBG00BKPTRR7 LULU US 01/19/18 C80 CA -131 -$23,973.00
BBG00J640583 MDT US 12/29/17 P77.5 IE -135 -$405.00
BBG00JG6RS79 SWKS US 12/29/17 C97.5 US -108 -$540.00
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 200,000 $199,500.00
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 96,180 $175,871.47
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 35,510 $1,837,924.97
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 4,110 $90,835.81
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 28,510 $3,182,887.95
G29183103 EATON CORP PLC US ETN 6,126 $484,015.26
G3157S106 ENSCO INTERNATIONAL INC US ESV 104,795 $619,338.45
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 345,000 $364,837.50
G5960L103 MEDTRONIC INC IE MDT 63,681 $5,142,240.75
G6518L108 NIELSEN HOLDINGS PLC US NLSN 104,903 $3,818,469.20
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 1,585 $238,843.65
G97822103 PERRIGO CO PLC IE PRGO 6,251 $544,837.16
H1467J104 CHUBB LTD CH CB 2,485 $363,133.05
H8817H100 TRANSOCEAN LTD US RIG 156,278 $1,669,049.04
N47279109 INTERXION HOLDING NX NL INXN 5,990 $352,990.70
N53745100 LYONDELLBASELL INDU-CL A US LYB 5,122 $565,059.04
USD US DOLLAR US 13,546,055.05 $13,546,055.05

Investments will change over time.

Distributions

  • Pro-Blend® Conservative Term Series Class R2 Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2017 Distributions
  • Second Quarter 2017 Distributions
  • First Quarter 2017 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests 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 the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. 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.


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