Mutual Fund

Pro-Blend® Conservative Term Series

Investment Objective

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

Investment Strategy

The portfolio is invested in a conservative mix of securities 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 their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative TermModerate TermExtended TermMaximum Term
0-5 Years3-10 Years7-20 Years15+ Years
5-35%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

$12.36

Daily $ Change

$0.02

Daily % Change

0.16%

as of 09/22/2023

Ticker

EXDAX

CUSIP

563821651

Inception Date

11/01/1995

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Applications & Forms
Fact Sheet
N-Port Part F Reports

Performance

As of 08/31/2023

YTD

4.19%

1 Year

2.25%

3 Year

0.37%

5 Year

3.30%

10 Year

3.65%

Inception
(11/01/1995)

5.17%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 0.88%

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

Top Ten Investments

As of 08/31/2023

TREASURY NOTES 26.50%
GOVERNMENT AGENCY 16.16%
TSY INFL IX N/B 0.50000 04/15/2024 3.98%
TSY INFL IX N/B 2.37500 01/15/2027 2.48%
TENCENT HOLDINGS 3.97500 04/11/2029 1.65%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.35%
PCG 2023 1 NOTE MTG 11.31495 07/25/2029 1.20%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.05%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.04%
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 1.04%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2023

Bonds
80.54%
Stocks
18.23%
Cash
1.23%

Detailed Asset Class Allocation

As of 08/31/2023

International Equities
4.64%
Small Capitalization
0.22%
Mid Capitalization
1.78%
Large Capitalization
11.58%
Long Term Fixed Income
14.07%
Intermediate Term Fixed Income
56.92%
Short Term Fixed Income
9.56%
Cash
1.23%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 263 $28,054.21
ABBOTT LABORATORIES US ABT 515 $52,993.50
ADMIRAL GROUP PLC GB ADM LN 5,805 $182,880.84
ADMIRAL GROUP PLC ADR GB AMIGY 21,825 $687,596.63
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 1,700,000 $1,473,366.32
AGREE REALTY CORP US ADC 2,086 $128,956.52
AIR LIQUIDE FR AI FP 607 $109,670.45
AIRBUS SE FR AIR FP 772 $112,949.06
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 142,111.92 $142,984.06
ALCON INC CH ALC 9,744 $808,654.56
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 1,020,000 $817,805.98
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 3,730,000 $3,028,877.38
ALLO 2023-1A A2 6.20000 06/20/2053 US 1,550,000 $1,468,399.17
ALPHABET INC-CL A US GOOGL 17,470 $2,378,889.90
AMAZON.COM INC US AMZN 24,122 $3,329,077.22
AMAZON.COM INC 3.30000 04/13/2027 US 3,110,000 $2,959,531.45
AMERICAN HOMES 4 RENT- A US AMH 1,302 $46,924.08
AMERICAN TOWER REIT INC US AMT 586 $106,253.52
AMERICOLD REALTY TRUST US COLD 4,429 $149,035.85
ANALOG DEVICES INC US ADI 249 $45,263.22
APARTMENT INCOME REIT CO US AIRC 1,147 $39,066.82
APPLIED MATERIALS INC US AMAT 5,003 $764,258.28
ARCHER-DANIELS-MIDLAND CO US ADM 302 $23,948.60
ARGO BLOCKCHAIN PLC GB 8,963 $60,500.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,600,000 $1,478,755.71
ASTRAZENECA GB AZN 1,785 $121,058.70
ATLASSIAN CORP PLC-CLASS A AU TEAM 390 $79,583.40
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 13,079 $60,895.63
AUTO TRADER GROUP PLC GB AUTO LN 17,501 $134,205.78
AVALONBAY COMMUNITIES INC US AVB 704 $129,409.28
AVANZA BANK HOLDING AB SE AZA SS 3,230 $62,362.59
BAE SYSTEMS PLC GB BA/ LN 15,022 $191,196.58
BAE SYSTEMS PLC -SPON ADR GB BAESY 13,558 $701,897.66
BANK OF AMERICA CORP US BAC 1,970 $56,479.90
BANK OF AMERICA CORP 2.68700 04/22/2032 US 2,720,000 $2,224,337.07
BAXTER INTERNATIONAL INC US BAX 298 $12,098.80
BEIERSDORF AG DE BEI GR 1,023 $133,946.69
BIOMARIN PHARMACEUTICAL INC US BMRN 11,118 $1,015,962.84
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,540,000 $1,503,849.59
BRISTOL MYERS SQUIBB CO US BMY 735 $45,312.75
BROADCOM INC US AVGO 97 $89,520.33
BROADRIDGE FINANCIAL SOLUTIONS US BR 79 $14,710.59
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 465,647 $405,112.88
BUNGE LIMITED US BG 118 $13,489.76
C.H. ROBINSON WORLDWIDE INC US CHRW 119 $10,761.17
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 365,000 $374,530.11
CAMPBELL SOUP CO US CPB 258 $10,758.60
CANADIAN NATIONAL RAILWAY CO CA CNI 6,861 $772,617.21
CARETRUST REIT INC US CTRE 3,501 $70,545.15
CATERPILLAR INC US CAT 244 $68,595.72
CBOE GLOBAL MARKETS INC US CBOE 4,397 $658,274.87
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 755,273.76 $685,082.86
CELLNEX TELECOM SA ES CLNX SM 3,461 $132,367.52
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 4,265 $81,376.20
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 2,180,000 $2,261,636.84
CHEVRON CORP US CVX 484 $77,972.40
CIM 2019-INV1 A1 4.00000 02/25/2049 US 74,481.85 $69,705.01
CISCO SYSTEMS INC US CSCO 1,304 $74,784.40
CITIGROUP INC US C 878 $36,252.62
CITIGROUP INC 1.46200 06/09/2027 US 2,490,000 $2,216,577.03
CLEANAWAY WASTE MANAGEMENT AU CWY AU 58,789 $99,493.93
COCA COLA CO/THE US KO 34,139 $2,042,536.37
COGNIZANT TECH SOLUTIONS - A US CTSH 239 $17,114.79
COLGATE-PALMOLIVE CO US CL 426 $31,298.22
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,630,000 $1,410,431.14
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 1,500,000 $1,377,935.79
COMCAST CORP-CL A US CMCSA 1,442 $67,427.92
COMMUNITY HEALTHCARE TRUST I US CHCT 2,125 $70,528.75
CONAGRA BRAND INC. US CAG 405 $12,101.40
CONOCOPHILLIPS US COP 414 $49,278.42
COPART INC US CPRT 17,932 $803,891.56
CORNING INC US GLW 401 $13,160.82
COTERRA ENERGY INC US CTRA 495 $13,954.05
COUSINS PROPERTIES INC US CUZ 1,088 $25,568.00
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 298,388.94 $250,739.45
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 167,017.51 $139,271.73
CSX CORP US CSX 21,262 $642,112.40
CUMMINS INC US CMI 104 $23,924.16
CVS HEALTH CORP US CVS 405 $26,393.85
DEUTSCHE BOERSE AG DE DB1 GR 873 $154,978.43
DEUTSCHE BOERSE AG ADR DE DBOEY 36,297 $642,819.87
DEVON ENERGY CORPORATION US DVN 340 $17,370.60
DIAGEO PLC GB DGE LN 2,723 $111,515.07
DIAMONDBACK ENERGY INC US FANG 105 $15,936.90
DOLLAR GENERAL CORP US DG 6,823 $944,985.50
DOLLARAMA INC CA DOL CN 815 $52,843.51
DOW INC US DOW 347 $18,932.32
DREYFUS GVT CSH MANAGEMENT US 4,427,394.4 $4,427,394.40
EBAY INC US EBAY 312 $13,971.36
ELECTRONIC ARTS US EA 13,863 $1,663,282.74
EMERSON ELEC CO US EMR 314 $30,850.50
ENDAVA PLC - SPON ADR GB DAVA 995 $48,655.50
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 3,760,000 $3,743,257.74
EOG RESOURCES INC US EOG 242 $31,126.04
EQUINIX INC US EQIX 612 $478,204.56
EQUITY COMMONWEALTH US EQC 3,534 $67,252.02
EQUITY LIFESTYLE PROPERTIES US ELS 1,841 $123,273.36
EVERGY INC US EVRG 14,964 $822,571.08
EXTRA SPACE STORAGE INC US EXR 1,008 $129,709.44
EXXON MOBIL CORP US XOM 735 $81,724.65
FEDERAL NATL MTG ASSN 123456 6.00000 12/01/2038 US 6,586.66 $6,907.59
FEDERAL NATL MTG ASSN 886904 6.50000 09/01/2036 US 32,993.58 $34,771.67
FEDERAL NATL MTG ASSN 889260 5.00000 04/01/2038 US 6,694.49 $6,702.77
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 157,456.56 $165,136.23
FEDERAL NATL MTG ASSN 933521 5.00000 01/01/2038 US 5,646.35 $5,653.33
FEDERAL NATL MTG ASSN 971022 5.00000 01/01/2039 US 11,712.83 $11,726.30
FEDERAL NATL MTG ASSN 975840 5.00000 05/01/2038 US 24,505.84 $24,534.02
FEDERAL NATL MTG ASSN 983686 5.00000 02/01/2039 US 13,531.8 $13,547.36
FEDERAL NATL MTG ASSN 986458 6.00000 08/01/2038 US 3,835.01 $4,021.87
FEDERAL NATL MTG ASSN 987831 6.00000 09/01/2038 US 8,585.09 $9,003.39
FEDERAL NATL MTG ASSN 990897 6.00000 09/01/2038 US 17,557.33 $18,412.80
FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 199,313.46 $208,995.61
FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 158,529.39 $150,432.13
FEDERAL NATL MTG ASSN AA1563 4.50000 02/01/2024 US 638.44 $633.39
FEDERAL NATL MTG ASSN AA1810 5.00000 01/01/2039 US 32,833.32 $32,871.07
FEDERAL NATL MTG ASSN AA6788 6.00000 08/01/2039 US 110,044.9 $115,402.72
FEDERAL NATL MTG ASSN AB4300 3.50000 01/01/2042 US 78,803.97 $72,471.73
FEDERAL NATL MTG ASSN AC0463 5.00000 11/01/2039 US 13,805.63 $13,817.42
FEDERAL NATL MTG ASSN AC1557 4.50000 09/01/2024 US 3,321.23 $3,282.04
FEDERAL NATL MTG ASSN AC5111 5.00000 11/01/2039 US 26,798.62 $26,821.51
FEDERAL NATL MTG ASSN AC8573 5.00000 01/01/2040 US 23,185.65 $23,205.46
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 28,218.89 $29,589.69
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 793.02 $786.67
FEDERAL NATL MTG ASSN AE0061 6.00000 02/01/2040 US 80,082.03 $83,983.96
FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 184,111.63 $193,055.31
FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 320,098.12 $335,710.34
FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 345,472.17 $336,606.63
FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 201,367.53 $211,188.88
FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 178,393.44 $169,281.57
FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 556,907.82 $573,257.70
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 96,183.73 $90,292.11
FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 98,914.3 $92,855.42
FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 147,595.73 $138,554.93
FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 125,480.06 $121,521.82
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 2,996,146.78 $2,721,219.72
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 603,305.92 $582,993.21
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 3,129,970.86 $2,938,112.91
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 3,496,947.65 $3,163,976.97
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 300,662.01 $293,533.95
FEDERAL NATL MTG ASSN MA0259 5.00000 12/01/2039 US 16,864.31 $16,878.72
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 241,042.11 $236,447.71
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 218,295.59 $214,134.75
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 3,397,898.25 $3,043,603.88
FEDERAL NATL MTG ASSN MA4633 3.50000 06/01/2042 US 1,222,707.5 $1,115,022.65
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 3,784,103.18 $3,498,513.13
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 1,409,092.8 $1,392,987.36
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 3,174,410.52 $2,767,703.43
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 1,286,457.36 $1,247,590.92
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,409,104.27 $2,081,813.22
FEDEX CORPORATION US FDX 94 $24,535.88
FHLM POOL A92889 4.50000 07/01/2040 US 428,478.7 $418,262.45
FHLM POOL C91746 4.50000 12/01/2033 US 36,865.62 $36,228.84
FHLM POOL C91762 4.50000 05/01/2034 US 356,771.37 $350,382.45
FHLM POOL G03926 6.00000 02/01/2038 US 132,575.15 $139,219.05
FHLM POOL G05906 6.00000 04/01/2040 US 18,069.86 $18,975.42
FHLM POOL G06789 6.00000 05/01/2040 US 110,843.17 $116,397.99
FHLM POOL SD8230 4.50000 06/01/2052 US 2,203,338.98 $2,090,856.26
FHR 5189 CP 2.50000 06/25/2049 US 1,906,930.29 $1,615,213.80
FIFTH THIRD BANCORP US FITB 483 $12,823.65
FINECOBANK SPA IT FBK IM 7,367 $100,687.94
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,467 $55,472.00
FLX 2021-1A A2 3.25000 11/27/2051 US 2,600,000 $2,269,788.30
FMC CORP US FMC 14,393 $1,241,108.39
FN FS4616 MTGE 5.00000 05/01/2043 US 3,858,038.07 $3,786,590.60
FN FS4925 MTGE 3.50000 04/01/2052 US 4,104,251.73 $3,713,455.06
FN MA4020 MTGE 3.00000 05/01/2050 US 4,288,065.47 $3,732,290.76
FN MA4807 MTGE 5.50000 11/01/2052 US 2,779,951.96 $2,750,203.81
FN MA4934 MTGE 5.00000 02/01/2043 US 1,884,556.78 $1,846,797.23
FNR 2018-13 PA MTGE 3.00000 03/25/2048 US 1,712,958.18 $1,485,041.87
FNR 2018-31 KP 3.50000 07/25/2047 US 44,119.1 $42,453.67
FNR 2021-69 WJ 1.50000 10/25/2050 US 1,135,925.99 $938,462.43
FR RB5178 MTGE 4.50000 08/01/2042 US 1,913,293.56 $1,835,814.89
FR SD1360 MTGE 5.50000 07/01/2052 US 3,782,311.6 $3,740,326.88
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 1,228,207.12 $1,120,050.11
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 2,528,744.24 $2,373,661.08
GENERAL DYNAMICS CORP US GD 140 $31,729.60
GENERAL MLS INC US GIS 352 $23,816.32
GENUINE PARTS CO US GPC 112 $17,217.76
GETTY REALTY CORP US GTY 1,849 $55,506.98
GILEAD SCIENCES INC US GILD 587 $44,893.76
GLOBANT SA LU GLOB 291 $59,500.77
GNMA POOL 671161 5.50000 11/15/2037 US 24,955.39 $25,436.57
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 230,000 $206,627.12
GREENIDGE GEN HLD INC US 10,500 $55,755.00
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 1,459,979.61 $1,330,626.88
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 1,207,211.05 $1,025,390.36
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 1,224,554.73 $1,039,311.54
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,814,270.37 $1,535,756.75
HALLIBURTON CO US HAL 441 $17,031.42
HALMA PLC GB HLMA LN 2,333 $63,244.00
HARTFORD FINL SVCS US HIG 164 $11,778.48
HAWAII ST 2.68200 10/01/2038 US 2,660,000 $1,956,832.51
HDFC BANK LTD-ADR IN HDB 2,125 $132,408.75
HEALTHCARE REALTY TRUST INC US HR 2,197 $38,491.44
HEINEKEN NV NL HEIA NA 1,448 $140,760.71
HEINEKEN NV-SPN ADR NL HEINY 31,501 $1,534,413.71
HELIOS TOWERS PLC GB HTWS LN 33,162 $38,291.77
HOME DEPOT INC US HD 319 $105,365.70
HONEYWELL INTERNATIONAL INC US HON 285 $53,562.90
HUNTINGTON BANCSHARES US HBAN 875 $9,703.75
IDEXX LABORATORIES INC US IDXX 2,146 $1,097,485.86
IIP OPERATING PARTNER 5.50000 05/25/2026 US 460,000 $407,547.54
IMCD NV NL IMCD NA 329 $45,313.90
IMPRL 2021-NQM3 1.59500 11/25/2056 US 1,353,754.28 $1,094,536.77
IMPRL 2022-NQM1 A1 2.49300 02/25/2067 US 2,519,839.76 $2,177,584.89
INTERCONTINENTALEXCHANGE INC US ICE 6,336 $747,584.64
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,841 $48,551.55
INTERNATIONAL BUSINESS MACH CORP US IBM 275 $40,378.25
INTERNATIONAL FLVRS & FRAGRANCES US IFF 155 $10,919.75
INTUIT INC US INTU 1,408 $762,868.48
INTUITIVE SURGICAL INC US ISRG 2,338 $731,045.84
INVITATION HOMES INC US INVH 4,018 $136,973.62
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 600,000 $577,018.21
JM SMUCKER CO/THE-NEW COM WI US SJM 91 $13,190.45
JOHNSON & JOHNSON US JNJ 13,276 $2,146,463.68
JP MORGAN CHASE & CO US JPM 748 $109,454.84
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 219,681.16 $205,151.74
JPMMT 2017-3 1A3 3.50000 08/25/2047 US 30,772.82 $26,963.55
JPMMT 2017-6 A3 3.50000 12/25/2048 US 76,272.28 $67,770.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 3,920,000 $3,717,857.63
KELLOGG CO US K 176 $10,739.52
KEYENCE CORP JP 6861 JP 200 $83,034.36
KEYWORDS STUDIOS PLC IE KWS LN 1,424 $27,509.83
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 28,600 $64,411.01
KRAFT HEINZ CO/THE US KHC 491 $16,247.19
L'OREAL FR OR FP 58 $25,475.47
L3HARRIS TECHNOLOGIES INC US LHX 9,344 $1,664,072.96
LEXINGTON REALTY TRUST US LXP 7,082 $69,545.24
LOCKHEED MARTIN CORP US LMT 104 $46,628.40
LONZA GROUP AG -REG CH LONN SW 90 $49,643.21
LULULEMON - ADR CA LULU 297 $113,234.22
MARATHON OIL CORP US MRO 363 $9,565.05
MARATHON PETROLEUM CORP US MPC 212 $30,267.24
MARRIOTT VACATIONS WORLD US VAC 323 $35,106.87
MASCO CORP US MAS 23,140 $1,365,491.40
MASTERCARD INC-CLASS A US MA 5,694 $2,349,572.16
MEDTRONIC INC IE MDT 18,681 $1,522,501.50
MERCADOLIBRE INC BR MELI 92 $126,257.12
MERCK & CO INC US MRK 763 $83,151.74
META PLATFORMS INC US META 8,121 $2,402,922.69
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $48,647.92
MICROCHIP TECHNOLOGY INC US MCHP 275 $22,506.00
MICRON TECHNOLOGY INC US MU 33,626 $2,351,802.44
MICROSOFT CORP US MSFT 3,069 $1,005,895.44
MID-AMERICA APARTMENT COMM US MAA 478 $69,419.94
MONARCH CASINO & RESORT INC US MCRI 858 $57,829.20
MONDELEZ INTERNATIONAL INC US MDLZ 9,574 $682,243.24
MOODY'S CORPORATION US MCO 3,465 $1,167,012.00
NAVIENT CORP 6.75000 06/25/2025 US 485,000 $482,615.36
NESTLE S.A. - ADR CH NSRGY 14,168 $1,702,001.84
NESTLE SA-REGISTERED CH NESN SW 1,676 $201,521.27
NETAPP INC US NTAP 180 $13,806.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,637,698.38 $1,480,488.65
NIKE INC CLASS B US NKE 5,585 $568,050.35
NORFOLK SOUTHN CORP US NSC 109 $22,346.09
NORTHROP GRUMMAN CORP US NOC 2,323 $1,006,068.07
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 880,000 $88.00
NOVARTIS AG- REG CH NVS 8,615 $865,635.20
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 1,470,000 $1,489,154.36
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 311,733.13 $283,041.15
NRZT 2015-2A A1 3.75000 08/25/2055 US 313,154.22 $288,804.88
NRZT 2016-4A A1 3.75000 11/25/2056 US 451,217.76 $410,710.81
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,550,482.42 $1,382,916.67
OASIS 2022-2A A 6.85000 10/15/2034 US 884,452.84 $882,485.91
OASIS 2023-1A 7.00000 02/15/2035 US 932,063.81 $927,577.51
OBX 2022-INV1 A1 3.00000 12/25/2051 US 2,223,219.31 $1,828,595.75
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 400,000 $405,289.93
OMNICOM GROUP US OMC 167 $13,528.67
OXFIN 2019-1A A2 4.45900 02/15/2027 US 342,236.12 $340,384.21
OXFIN 2020-1A A2 3.10100 02/15/2028 US 133,798.85 $128,926.66
OXFIN 2022-1A 3.60200 02/15/2030 US 2,750,000 $2,540,015.23
OXFIN 2023-1A A2 6.71600 02/15/2031 US 2,500,000 $2,464,937.00
PACKAGING CORP OF AMERICA US PKG 71 $10,586.10
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 3,130,000 $3,171,011.86
PARAMOUNT GLOBAL CLASS B US PARA 464 $7,001.76
PCG 2023 1 NOTE MTG 11.31495 07/25/2029 US 4,298,725.55 $4,298,725.55
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,883,390.63 $1,791,583.44
PEAR 2022-1 A1 6.50000 10/15/2034 US 198,124.79 $198,025.37
PEAR 2023-1A 7.42000 07/15/2035 US 1,380,017.31 $1,378,160.77
PELORUS FUND REIT 7.00000 09/30/2026 US 470,000 $447,202.57
PEPSICO INC 3.90000 07/18/2032 US 3,370,000 $3,196,369.41
PFIZER INC US PFE 1,457 $51,548.66
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 2,381,513.78 $1,894,663.06
PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,498,297.82 $1,253,345.44
PHILLIPS 66 US PSX 171 $19,521.36
PHYSICIANS REALTY TRUST US DOC 2,914 $40,533.74
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 608,989.72 $538,191.11
PPG INDUSTRIES INC US PPG 125 $17,720.00
PROLOGIS US PLD 3,721 $462,148.20
PUBLIC STORAGE INC US PSA 624 $172,461.12
QUALCOMM INC US QCOM 460 $52,683.80
QUALCOMM INC 4.25000 05/20/2032 US 3,110,000 $2,985,371.26
QUEST DIAGNOSTICS INC US DGX 99 $13,018.50
RAYTHEON TECHNOLOGIES CORP US RTX 399 $34,329.96
REALTY INCOME CORP US O 1,784 $99,975.36
REGIONS FINANCIAL CORP. US RF 729 $13,369.86
RENAISSANCERE HOLDINGS LTD BM RNR 601 $112,921.89
RENTOKIL INITIAL PLC GB RTO LN 19,712 $150,076.76
RENTOKIL INITIAL PLC-SP ADR GB RTO 17,431 $661,506.45
REXFORD INDUSTRIAL REALITY IN US REXR 1,526 $81,595.22
S&P GLOBAL INC US SPGI 1,139 $445,189.54
SALESFORCE INC US CRM 3,067 $679,217.82
SBA COMMUNICATIONS CORP US SBAC 792 $177,827.76
SBA TOWER TRUST 6.59900 01/15/2028 US 2,540,000 $2,578,751.26
SCHLUMBERGER LTD NL SLB 510 $30,069.60
SCML 2019-SBC8 2.86000 04/25/2041 US 1,585,087.75 $1,449,617.43
SEMT 2013-2 1.87400 02/25/2043 US 149,796.6 $124,450.70
SEMT 2013-6 A2 3.00000 05/25/2043 US 1,212,466.47 $1,041,884.15
SEMT 2013-7 A2 3.00000 06/25/2043 US 176,402.9 $153,483.52
SEMT 2013-8 A1 3.00000 06/25/2043 US 213,090.8 $184,436.91
SEMT 2020-1 A1 3.50000 02/25/2050 US 65,167.98 $57,070.68
SERVICENOW INC US NOW 2,379 $1,400,826.57
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 5,970,000 $4,801,134.66
SKYWORKS SOLUTIONS INC US SWKS 108 $11,743.92
SLMA 2005-7 A4 FLT 5.46614 10/25/2029 US 26,399.83 $26,324.72
SONY CORP FIRST SECTION JP 6758 JP 1,200 $99,831.01
SORT 2020-1 B1 2.28000 07/15/2060 US 2,698,356.01 $2,428,540.92
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 3,460,000 $3,076,287.18
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 2,117,053.96 $1,510,188.67
STAG INDUSTRIAL INC US STAG 1,151 $42,046.03
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 2,090,185.5 $1,881,261.01
SUN COMMUNITIES US SUI 1,338 $163,797.96
SYNCHRONOSS TECH US 10,255 $187,666.50
SYSCO CORP US SYY 223 $15,531.95
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 13,215 $1,236,527.55
TE CONNECTIVITY LIMITED CH TEL 165 $21,844.35
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 8,000 $78,901.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 6,410,000 $5,903,511.67
TENCENT HOLDINGS LTD CN 700 HK 3,300 $136,753.21
TERRENO REALTY CORP US TRNO 1,263 $76,904.07
TEXAS INSTRUMENTS INC US TXN 290 $48,737.40
THERMO FISHER SCIENTIFIC INC US TMO 1,246 $694,146.60
TOKYO ELECTRON LTD JP 8035 JP 500 $74,262.83
TPMT 2016-5 A1 2.50000 10/25/2056 US 113,295.94 $111,688.25
TPMT 2017-1 A1 2.75000 10/25/2056 US 111,931.35 $110,536.48
TPMT 2019-HY1 A1 6.42943 10/25/2048 US 496,041.82 $494,622.20
TRAVELLERS COS INC US TRV 143 $23,055.89
TREASURY NOTE 2.25000 11/15/2027 US 8,714,000 $8,012,114.57
TRUIST FINANCIAL CORP US TFC 580 $17,719.00
TSY INFL IX N/B 0.50000 04/15/2024 US 14,521,839 $14,210,590.39
TSY INFL IX N/B 2.37500 01/15/2027 US 8,867,399.95 $8,867,102.71
TYSON FOODS INC -CL A US TSN 227 $12,092.29
U.S. BANCORP US USB 781 $28,529.93
UDR INC US UDR 2,626 $104,777.40
UNILEVER PLC - ADR GB UL 33,021 $1,684,731.42
UNION PAC CORP US UNP 3,173 $699,868.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 76,061.21 $71,864.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 360,242.53 $324,895.26
UNITED PARCEL SERVICE US UPS 277 $46,923.80
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $229,194.26
US TEASURY NOTE 1.75000 11/15/2029 US 25,519,000 $22,193,555.31
US TREASURY N/B 2.00000 11/15/2026 US 19,650,000 $18,191,601.56
US TREASURY N/B 2.25000 11/15/2025 US 19,250,000 $18,234,863.38
US TREASURY N/B 3.12500 11/15/2028 US 23,860,000 $22,588,709.38
US TREASURY N/B 4.12500 11/15/2032 US 5,347,000 $5,346,164.53
VALERO ENERGY US VLO 137 $17,796.30
VENTAS INC US VTR 1,309 $57,177.12
VERTEX PHARMACEUTICALS INC US VRTX 2,362 $822,779.08
VISA INC - CLASS A SHARES US V 6,793 $1,668,904.24
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 4,040,000 $3,713,585.86
WELLS FARGO COMPANY US WFC 1,109 $45,790.61
WELLTOWER INC. US WELL 1,354 $112,219.52
WIN 2015-1 A1 3.50000 01/20/2045 US 94,171.07 $84,051.48

Investments will change over time.

Distributions

  • Pro-Blend® Conservative Term Series Class S Distribution History
  • 2023 Distribution Calendar
  • 2023 Distributions
  • Tax Letter
  • Target Income Merger into Pro Blend Conservative
  • Target 2015 Merger into Pro Blend Conservative
  • Pro-Blend Conservative Series Stock Split

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.

Daily Price

$12.36

Daily $ Change

$0.02

Daily % Change

0.16%

as of 09/22/2023

Ticker

EXDAX

CUSIP

563821651

Inception Date

11/01/1995

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Applications & Forms
Fact Sheet
N-Port Part F Reports

Investment Objective

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

Investment Strategy

The portfolio is invested in a conservative mix of securities 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 their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative TermModerate TermExtended TermMaximum Term
0-5 Years3-10 Years7-20 Years15+ Years
5-35%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

Performance

As of 08/31/2023

YTD

4.19%

1 Year

2.25%

3 Year

0.37%

5 Year

3.30%

10 Year

3.65%

Inception
(11/01/1995)

5.17%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. 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 0.88%

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

Top Ten Investments

As of 08/31/2023

TREASURY NOTES 26.50%
GOVERNMENT AGENCY 16.16%
TSY INFL IX N/B 0.50000 04/15/2024 3.98%
TSY INFL IX N/B 2.37500 01/15/2027 2.48%
TENCENT HOLDINGS 3.97500 04/11/2029 1.65%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.35%
PCG 2023 1 NOTE MTG 11.31495 07/25/2029 1.20%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.05%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.04%
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 1.04%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2023

Bonds
80.54%
Stocks
18.23%
Cash
1.23%

Detailed Asset Class Allocation

As of 08/31/2023

International Equities
4.64%
Small Capitalization
0.22%
Mid Capitalization
1.78%
Large Capitalization
11.58%
Long Term Fixed Income
14.07%
Intermediate Term Fixed Income
56.92%
Short Term Fixed Income
9.56%
Cash
1.23%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 263 $28,054.21
ABBOTT LABORATORIES US ABT 515 $52,993.50
ADMIRAL GROUP PLC GB ADM LN 5,805 $182,880.84
ADMIRAL GROUP PLC ADR GB AMIGY 21,825 $687,596.63
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 1,700,000 $1,473,366.32
AGREE REALTY CORP US ADC 2,086 $128,956.52
AIR LIQUIDE FR AI FP 607 $109,670.45
AIRBUS SE FR AIR FP 772 $112,949.06
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 142,111.92 $142,984.06
ALCON INC CH ALC 9,744 $808,654.56
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 1,020,000 $817,805.98
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 3,730,000 $3,028,877.38
ALLO 2023-1A A2 6.20000 06/20/2053 US 1,550,000 $1,468,399.17
ALPHABET INC-CL A US GOOGL 17,470 $2,378,889.90
AMAZON.COM INC US AMZN 24,122 $3,329,077.22
AMAZON.COM INC 3.30000 04/13/2027 US 3,110,000 $2,959,531.45
AMERICAN HOMES 4 RENT- A US AMH 1,302 $46,924.08
AMERICAN TOWER REIT INC US AMT 586 $106,253.52
AMERICOLD REALTY TRUST US COLD 4,429 $149,035.85
ANALOG DEVICES INC US ADI 249 $45,263.22
APARTMENT INCOME REIT CO US AIRC 1,147 $39,066.82
APPLIED MATERIALS INC US AMAT 5,003 $764,258.28
ARCHER-DANIELS-MIDLAND CO US ADM 302 $23,948.60
ARGO BLOCKCHAIN PLC GB 8,963 $60,500.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,600,000 $1,478,755.71
ASTRAZENECA GB AZN 1,785 $121,058.70
ATLASSIAN CORP PLC-CLASS A AU TEAM 390 $79,583.40
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 13,079 $60,895.63
AUTO TRADER GROUP PLC GB AUTO LN 17,501 $134,205.78
AVALONBAY COMMUNITIES INC US AVB 704 $129,409.28
AVANZA BANK HOLDING AB SE AZA SS 3,230 $62,362.59
BAE SYSTEMS PLC GB BA/ LN 15,022 $191,196.58
BAE SYSTEMS PLC -SPON ADR GB BAESY 13,558 $701,897.66
BANK OF AMERICA CORP US BAC 1,970 $56,479.90
BANK OF AMERICA CORP 2.68700 04/22/2032 US 2,720,000 $2,224,337.07
BAXTER INTERNATIONAL INC US BAX 298 $12,098.80
BEIERSDORF AG DE BEI GR 1,023 $133,946.69
BIOMARIN PHARMACEUTICAL INC US BMRN 11,118 $1,015,962.84
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,540,000 $1,503,849.59
BRISTOL MYERS SQUIBB CO US BMY 735 $45,312.75
BROADCOM INC US AVGO 97 $89,520.33
BROADRIDGE FINANCIAL SOLUTIONS US BR 79 $14,710.59
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 465,647 $405,112.88
BUNGE LIMITED US BG 118 $13,489.76
C.H. ROBINSON WORLDWIDE INC US CHRW 119 $10,761.17
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 365,000 $374,530.11
CAMPBELL SOUP CO US CPB 258 $10,758.60
CANADIAN NATIONAL RAILWAY CO CA CNI 6,861 $772,617.21
CARETRUST REIT INC US CTRE 3,501 $70,545.15
CATERPILLAR INC US CAT 244 $68,595.72
CBOE GLOBAL MARKETS INC US CBOE 4,397 $658,274.87
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 755,273.76 $685,082.86
CELLNEX TELECOM SA ES CLNX SM 3,461 $132,367.52
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 4,265 $81,376.20
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 2,180,000 $2,261,636.84
CHEVRON CORP US CVX 484 $77,972.40
CIM 2019-INV1 A1 4.00000 02/25/2049 US 74,481.85 $69,705.01
CISCO SYSTEMS INC US CSCO 1,304 $74,784.40
CITIGROUP INC US C 878 $36,252.62
CITIGROUP INC 1.46200 06/09/2027 US 2,490,000 $2,216,577.03
CLEANAWAY WASTE MANAGEMENT AU CWY AU 58,789 $99,493.93
COCA COLA CO/THE US KO 34,139 $2,042,536.37
COGNIZANT TECH SOLUTIONS - A US CTSH 239 $17,114.79
COLGATE-PALMOLIVE CO US CL 426 $31,298.22
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,630,000 $1,410,431.14
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 1,500,000 $1,377,935.79
COMCAST CORP-CL A US CMCSA 1,442 $67,427.92
COMMUNITY HEALTHCARE TRUST I US CHCT 2,125 $70,528.75
CONAGRA BRAND INC. US CAG 405 $12,101.40
CONOCOPHILLIPS US COP 414 $49,278.42
COPART INC US CPRT 17,932 $803,891.56
CORNING INC US GLW 401 $13,160.82
COTERRA ENERGY INC US CTRA 495 $13,954.05
COUSINS PROPERTIES INC US CUZ 1,088 $25,568.00
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 298,388.94 $250,739.45
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 167,017.51 $139,271.73
CSX CORP US CSX 21,262 $642,112.40
CUMMINS INC US CMI 104 $23,924.16
CVS HEALTH CORP US CVS 405 $26,393.85
DEUTSCHE BOERSE AG DE DB1 GR 873 $154,978.43
DEUTSCHE BOERSE AG ADR DE DBOEY 36,297 $642,819.87
DEVON ENERGY CORPORATION US DVN 340 $17,370.60
DIAGEO PLC GB DGE LN 2,723 $111,515.07
DIAMONDBACK ENERGY INC US FANG 105 $15,936.90
DOLLAR GENERAL CORP US DG 6,823 $944,985.50
DOLLARAMA INC CA DOL CN 815 $52,843.51
DOW INC US DOW 347 $18,932.32
DREYFUS GVT CSH MANAGEMENT US 4,427,394.4 $4,427,394.40
EBAY INC US EBAY 312 $13,971.36
ELECTRONIC ARTS US EA 13,863 $1,663,282.74
EMERSON ELEC CO US EMR 314 $30,850.50
ENDAVA PLC - SPON ADR GB DAVA 995 $48,655.50
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 3,760,000 $3,743,257.74
EOG RESOURCES INC US EOG 242 $31,126.04
EQUINIX INC US EQIX 612 $478,204.56
EQUITY COMMONWEALTH US EQC 3,534 $67,252.02
EQUITY LIFESTYLE PROPERTIES US ELS 1,841 $123,273.36
EVERGY INC US EVRG 14,964 $822,571.08
EXTRA SPACE STORAGE INC US EXR 1,008 $129,709.44
EXXON MOBIL CORP US XOM 735 $81,724.65
FEDERAL NATL MTG ASSN 123456 6.00000 12/01/2038 US 6,586.66 $6,907.59
FEDERAL NATL MTG ASSN 886904 6.50000 09/01/2036 US 32,993.58 $34,771.67
FEDERAL NATL MTG ASSN 889260 5.00000 04/01/2038 US 6,694.49 $6,702.77
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 157,456.56 $165,136.23
FEDERAL NATL MTG ASSN 933521 5.00000 01/01/2038 US 5,646.35 $5,653.33
FEDERAL NATL MTG ASSN 971022 5.00000 01/01/2039 US 11,712.83 $11,726.30
FEDERAL NATL MTG ASSN 975840 5.00000 05/01/2038 US 24,505.84 $24,534.02
FEDERAL NATL MTG ASSN 983686 5.00000 02/01/2039 US 13,531.8 $13,547.36
FEDERAL NATL MTG ASSN 986458 6.00000 08/01/2038 US 3,835.01 $4,021.87
FEDERAL NATL MTG ASSN 987831 6.00000 09/01/2038 US 8,585.09 $9,003.39
FEDERAL NATL MTG ASSN 990897 6.00000 09/01/2038 US 17,557.33 $18,412.80
FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 199,313.46 $208,995.61
FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 158,529.39 $150,432.13
FEDERAL NATL MTG ASSN AA1563 4.50000 02/01/2024 US 638.44 $633.39
FEDERAL NATL MTG ASSN AA1810 5.00000 01/01/2039 US 32,833.32 $32,871.07
FEDERAL NATL MTG ASSN AA6788 6.00000 08/01/2039 US 110,044.9 $115,402.72
FEDERAL NATL MTG ASSN AB4300 3.50000 01/01/2042 US 78,803.97 $72,471.73
FEDERAL NATL MTG ASSN AC0463 5.00000 11/01/2039 US 13,805.63 $13,817.42
FEDERAL NATL MTG ASSN AC1557 4.50000 09/01/2024 US 3,321.23 $3,282.04
FEDERAL NATL MTG ASSN AC5111 5.00000 11/01/2039 US 26,798.62 $26,821.51
FEDERAL NATL MTG ASSN AC8573 5.00000 01/01/2040 US 23,185.65 $23,205.46
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 28,218.89 $29,589.69
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 793.02 $786.67
FEDERAL NATL MTG ASSN AE0061 6.00000 02/01/2040 US 80,082.03 $83,983.96
FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 184,111.63 $193,055.31
FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 320,098.12 $335,710.34
FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 345,472.17 $336,606.63
FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 201,367.53 $211,188.88
FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 178,393.44 $169,281.57
FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 556,907.82 $573,257.70
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 96,183.73 $90,292.11
FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 98,914.3 $92,855.42
FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 147,595.73 $138,554.93
FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 125,480.06 $121,521.82
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 2,996,146.78 $2,721,219.72
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 603,305.92 $582,993.21
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 3,129,970.86 $2,938,112.91
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 3,496,947.65 $3,163,976.97
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 300,662.01 $293,533.95
FEDERAL NATL MTG ASSN MA0259 5.00000 12/01/2039 US 16,864.31 $16,878.72
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 241,042.11 $236,447.71
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 218,295.59 $214,134.75
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 3,397,898.25 $3,043,603.88
FEDERAL NATL MTG ASSN MA4633 3.50000 06/01/2042 US 1,222,707.5 $1,115,022.65
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 3,784,103.18 $3,498,513.13
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 1,409,092.8 $1,392,987.36
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 3,174,410.52 $2,767,703.43
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 1,286,457.36 $1,247,590.92
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,409,104.27 $2,081,813.22
FEDEX CORPORATION US FDX 94 $24,535.88
FHLM POOL A92889 4.50000 07/01/2040 US 428,478.7 $418,262.45
FHLM POOL C91746 4.50000 12/01/2033 US 36,865.62 $36,228.84
FHLM POOL C91762 4.50000 05/01/2034 US 356,771.37 $350,382.45
FHLM POOL G03926 6.00000 02/01/2038 US 132,575.15 $139,219.05
FHLM POOL G05906 6.00000 04/01/2040 US 18,069.86 $18,975.42
FHLM POOL G06789 6.00000 05/01/2040 US 110,843.17 $116,397.99
FHLM POOL SD8230 4.50000 06/01/2052 US 2,203,338.98 $2,090,856.26
FHR 5189 CP 2.50000 06/25/2049 US 1,906,930.29 $1,615,213.80
FIFTH THIRD BANCORP US FITB 483 $12,823.65
FINECOBANK SPA IT FBK IM 7,367 $100,687.94
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,467 $55,472.00
FLX 2021-1A A2 3.25000 11/27/2051 US 2,600,000 $2,269,788.30
FMC CORP US FMC 14,393 $1,241,108.39
FN FS4616 MTGE 5.00000 05/01/2043 US 3,858,038.07 $3,786,590.60
FN FS4925 MTGE 3.50000 04/01/2052 US 4,104,251.73 $3,713,455.06
FN MA4020 MTGE 3.00000 05/01/2050 US 4,288,065.47 $3,732,290.76
FN MA4807 MTGE 5.50000 11/01/2052 US 2,779,951.96 $2,750,203.81
FN MA4934 MTGE 5.00000 02/01/2043 US 1,884,556.78 $1,846,797.23
FNR 2018-13 PA MTGE 3.00000 03/25/2048 US 1,712,958.18 $1,485,041.87
FNR 2018-31 KP 3.50000 07/25/2047 US 44,119.1 $42,453.67
FNR 2021-69 WJ 1.50000 10/25/2050 US 1,135,925.99 $938,462.43
FR RB5178 MTGE 4.50000 08/01/2042 US 1,913,293.56 $1,835,814.89
FR SD1360 MTGE 5.50000 07/01/2052 US 3,782,311.6 $3,740,326.88
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 1,228,207.12 $1,120,050.11
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 2,528,744.24 $2,373,661.08
GENERAL DYNAMICS CORP US GD 140 $31,729.60
GENERAL MLS INC US GIS 352 $23,816.32
GENUINE PARTS CO US GPC 112 $17,217.76
GETTY REALTY CORP US GTY 1,849 $55,506.98
GILEAD SCIENCES INC US GILD 587 $44,893.76
GLOBANT SA LU GLOB 291 $59,500.77
GNMA POOL 671161 5.50000 11/15/2037 US 24,955.39 $25,436.57
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 230,000 $206,627.12
GREENIDGE GEN HLD INC US 10,500 $55,755.00
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 1,459,979.61 $1,330,626.88
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 1,207,211.05 $1,025,390.36
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 1,224,554.73 $1,039,311.54
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,814,270.37 $1,535,756.75
HALLIBURTON CO US HAL 441 $17,031.42
HALMA PLC GB HLMA LN 2,333 $63,244.00
HARTFORD FINL SVCS US HIG 164 $11,778.48
HAWAII ST 2.68200 10/01/2038 US 2,660,000 $1,956,832.51
HDFC BANK LTD-ADR IN HDB 2,125 $132,408.75
HEALTHCARE REALTY TRUST INC US HR 2,197 $38,491.44
HEINEKEN NV NL HEIA NA 1,448 $140,760.71
HEINEKEN NV-SPN ADR NL HEINY 31,501 $1,534,413.71
HELIOS TOWERS PLC GB HTWS LN 33,162 $38,291.77
HOME DEPOT INC US HD 319 $105,365.70
HONEYWELL INTERNATIONAL INC US HON 285 $53,562.90
HUNTINGTON BANCSHARES US HBAN 875 $9,703.75
IDEXX LABORATORIES INC US IDXX 2,146 $1,097,485.86
IIP OPERATING PARTNER 5.50000 05/25/2026 US 460,000 $407,547.54
IMCD NV NL IMCD NA 329 $45,313.90
IMPRL 2021-NQM3 1.59500 11/25/2056 US 1,353,754.28 $1,094,536.77
IMPRL 2022-NQM1 A1 2.49300 02/25/2067 US 2,519,839.76 $2,177,584.89
INTERCONTINENTALEXCHANGE INC US ICE 6,336 $747,584.64
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,841 $48,551.55
INTERNATIONAL BUSINESS MACH CORP US IBM 275 $40,378.25
INTERNATIONAL FLVRS & FRAGRANCES US IFF 155 $10,919.75
INTUIT INC US INTU 1,408 $762,868.48
INTUITIVE SURGICAL INC US ISRG 2,338 $731,045.84
INVITATION HOMES INC US INVH 4,018 $136,973.62
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 600,000 $577,018.21
JM SMUCKER CO/THE-NEW COM WI US SJM 91 $13,190.45
JOHNSON & JOHNSON US JNJ 13,276 $2,146,463.68
JP MORGAN CHASE & CO US JPM 748 $109,454.84
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 219,681.16 $205,151.74
JPMMT 2017-3 1A3 3.50000 08/25/2047 US 30,772.82 $26,963.55
JPMMT 2017-6 A3 3.50000 12/25/2048 US 76,272.28 $67,770.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 3,920,000 $3,717,857.63
KELLOGG CO US K 176 $10,739.52
KEYENCE CORP JP 6861 JP 200 $83,034.36
KEYWORDS STUDIOS PLC IE KWS LN 1,424 $27,509.83
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 28,600 $64,411.01
KRAFT HEINZ CO/THE US KHC 491 $16,247.19
L'OREAL FR OR FP 58 $25,475.47
L3HARRIS TECHNOLOGIES INC US LHX 9,344 $1,664,072.96
LEXINGTON REALTY TRUST US LXP 7,082 $69,545.24
LOCKHEED MARTIN CORP US LMT 104 $46,628.40
LONZA GROUP AG -REG CH LONN SW 90 $49,643.21
LULULEMON - ADR CA LULU 297 $113,234.22
MARATHON OIL CORP US MRO 363 $9,565.05
MARATHON PETROLEUM CORP US MPC 212 $30,267.24
MARRIOTT VACATIONS WORLD US VAC 323 $35,106.87
MASCO CORP US MAS 23,140 $1,365,491.40
MASTERCARD INC-CLASS A US MA 5,694 $2,349,572.16
MEDTRONIC INC IE MDT 18,681 $1,522,501.50
MERCADOLIBRE INC BR MELI 92 $126,257.12
MERCK & CO INC US MRK 763 $83,151.74
META PLATFORMS INC US META 8,121 $2,402,922.69
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $48,647.92
MICROCHIP TECHNOLOGY INC US MCHP 275 $22,506.00
MICRON TECHNOLOGY INC US MU 33,626 $2,351,802.44
MICROSOFT CORP US MSFT 3,069 $1,005,895.44
MID-AMERICA APARTMENT COMM US MAA 478 $69,419.94
MONARCH CASINO & RESORT INC US MCRI 858 $57,829.20
MONDELEZ INTERNATIONAL INC US MDLZ 9,574 $682,243.24
MOODY'S CORPORATION US MCO 3,465 $1,167,012.00
NAVIENT CORP 6.75000 06/25/2025 US 485,000 $482,615.36
NESTLE S.A. - ADR CH NSRGY 14,168 $1,702,001.84
NESTLE SA-REGISTERED CH NESN SW 1,676 $201,521.27
NETAPP INC US NTAP 180 $13,806.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,637,698.38 $1,480,488.65
NIKE INC CLASS B US NKE 5,585 $568,050.35
NORFOLK SOUTHN CORP US NSC 109 $22,346.09
NORTHROP GRUMMAN CORP US NOC 2,323 $1,006,068.07
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 880,000 $88.00
NOVARTIS AG- REG CH NVS 8,615 $865,635.20
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 1,470,000 $1,489,154.36
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 311,733.13 $283,041.15
NRZT 2015-2A A1 3.75000 08/25/2055 US 313,154.22 $288,804.88
NRZT 2016-4A A1 3.75000 11/25/2056 US 451,217.76 $410,710.81
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,550,482.42 $1,382,916.67
OASIS 2022-2A A 6.85000 10/15/2034 US 884,452.84 $882,485.91
OASIS 2023-1A 7.00000 02/15/2035 US 932,063.81 $927,577.51
OBX 2022-INV1 A1 3.00000 12/25/2051 US 2,223,219.31 $1,828,595.75
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 400,000 $405,289.93
OMNICOM GROUP US OMC 167 $13,528.67
OXFIN 2019-1A A2 4.45900 02/15/2027 US 342,236.12 $340,384.21
OXFIN 2020-1A A2 3.10100 02/15/2028 US 133,798.85 $128,926.66
OXFIN 2022-1A 3.60200 02/15/2030 US 2,750,000 $2,540,015.23
OXFIN 2023-1A A2 6.71600 02/15/2031 US 2,500,000 $2,464,937.00
PACKAGING CORP OF AMERICA US PKG 71 $10,586.10
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 3,130,000 $3,171,011.86
PARAMOUNT GLOBAL CLASS B US PARA 464 $7,001.76
PCG 2023 1 NOTE MTG 11.31495 07/25/2029 US 4,298,725.55 $4,298,725.55
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,883,390.63 $1,791,583.44
PEAR 2022-1 A1 6.50000 10/15/2034 US 198,124.79 $198,025.37
PEAR 2023-1A 7.42000 07/15/2035 US 1,380,017.31 $1,378,160.77
PELORUS FUND REIT 7.00000 09/30/2026 US 470,000 $447,202.57
PEPSICO INC 3.90000 07/18/2032 US 3,370,000 $3,196,369.41
PFIZER INC US PFE 1,457 $51,548.66
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 2,381,513.78 $1,894,663.06
PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,498,297.82 $1,253,345.44
PHILLIPS 66 US PSX 171 $19,521.36
PHYSICIANS REALTY TRUST US DOC 2,914 $40,533.74
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 608,989.72 $538,191.11
PPG INDUSTRIES INC US PPG 125 $17,720.00
PROLOGIS US PLD 3,721 $462,148.20
PUBLIC STORAGE INC US PSA 624 $172,461.12
QUALCOMM INC US QCOM 460 $52,683.80
QUALCOMM INC 4.25000 05/20/2032 US 3,110,000 $2,985,371.26
QUEST DIAGNOSTICS INC US DGX 99 $13,018.50
RAYTHEON TECHNOLOGIES CORP US RTX 399 $34,329.96
REALTY INCOME CORP US O 1,784 $99,975.36
REGIONS FINANCIAL CORP. US RF 729 $13,369.86
RENAISSANCERE HOLDINGS LTD BM RNR 601 $112,921.89
RENTOKIL INITIAL PLC GB RTO LN 19,712 $150,076.76
RENTOKIL INITIAL PLC-SP ADR GB RTO 17,431 $661,506.45
REXFORD INDUSTRIAL REALITY IN US REXR 1,526 $81,595.22
S&P GLOBAL INC US SPGI 1,139 $445,189.54
SALESFORCE INC US CRM 3,067 $679,217.82
SBA COMMUNICATIONS CORP US SBAC 792 $177,827.76
SBA TOWER TRUST 6.59900 01/15/2028 US 2,540,000 $2,578,751.26
SCHLUMBERGER LTD NL SLB 510 $30,069.60
SCML 2019-SBC8 2.86000 04/25/2041 US 1,585,087.75 $1,449,617.43
SEMT 2013-2 1.87400 02/25/2043 US 149,796.6 $124,450.70
SEMT 2013-6 A2 3.00000 05/25/2043 US 1,212,466.47 $1,041,884.15
SEMT 2013-7 A2 3.00000 06/25/2043 US 176,402.9 $153,483.52
SEMT 2013-8 A1 3.00000 06/25/2043 US 213,090.8 $184,436.91
SEMT 2020-1 A1 3.50000 02/25/2050 US 65,167.98 $57,070.68
SERVICENOW INC US NOW 2,379 $1,400,826.57
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 5,970,000 $4,801,134.66
SKYWORKS SOLUTIONS INC US SWKS 108 $11,743.92
SLMA 2005-7 A4 FLT 5.46614 10/25/2029 US 26,399.83 $26,324.72
SONY CORP FIRST SECTION JP 6758 JP 1,200 $99,831.01
SORT 2020-1 B1 2.28000 07/15/2060 US 2,698,356.01 $2,428,540.92
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 3,460,000 $3,076,287.18
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 2,117,053.96 $1,510,188.67
STAG INDUSTRIAL INC US STAG 1,151 $42,046.03
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 2,090,185.5 $1,881,261.01
SUN COMMUNITIES US SUI 1,338 $163,797.96
SYNCHRONOSS TECH US 10,255 $187,666.50
SYSCO CORP US SYY 223 $15,531.95
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 13,215 $1,236,527.55
TE CONNECTIVITY LIMITED CH TEL 165 $21,844.35
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 8,000 $78,901.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 6,410,000 $5,903,511.67
TENCENT HOLDINGS LTD CN 700 HK 3,300 $136,753.21
TERRENO REALTY CORP US TRNO 1,263 $76,904.07
TEXAS INSTRUMENTS INC US TXN 290 $48,737.40
THERMO FISHER SCIENTIFIC INC US TMO 1,246 $694,146.60
TOKYO ELECTRON LTD JP 8035 JP 500 $74,262.83
TPMT 2016-5 A1 2.50000 10/25/2056 US 113,295.94 $111,688.25
TPMT 2017-1 A1 2.75000 10/25/2056 US 111,931.35 $110,536.48
TPMT 2019-HY1 A1 6.42943 10/25/2048 US 496,041.82 $494,622.20
TRAVELLERS COS INC US TRV 143 $23,055.89
TREASURY NOTE 2.25000 11/15/2027 US 8,714,000 $8,012,114.57
TRUIST FINANCIAL CORP US TFC 580 $17,719.00
TSY INFL IX N/B 0.50000 04/15/2024 US 14,521,839 $14,210,590.39
TSY INFL IX N/B 2.37500 01/15/2027 US 8,867,399.95 $8,867,102.71
TYSON FOODS INC -CL A US TSN 227 $12,092.29
U.S. BANCORP US USB 781 $28,529.93
UDR INC US UDR 2,626 $104,777.40
UNILEVER PLC - ADR GB UL 33,021 $1,684,731.42
UNION PAC CORP US UNP 3,173 $699,868.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 76,061.21 $71,864.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 360,242.53 $324,895.26
UNITED PARCEL SERVICE US UPS 277 $46,923.80
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $229,194.26
US TEASURY NOTE 1.75000 11/15/2029 US 25,519,000 $22,193,555.31
US TREASURY N/B 2.00000 11/15/2026 US 19,650,000 $18,191,601.56
US TREASURY N/B 2.25000 11/15/2025 US 19,250,000 $18,234,863.38
US TREASURY N/B 3.12500 11/15/2028 US 23,860,000 $22,588,709.38
US TREASURY N/B 4.12500 11/15/2032 US 5,347,000 $5,346,164.53
VALERO ENERGY US VLO 137 $17,796.30
VENTAS INC US VTR 1,309 $57,177.12
VERTEX PHARMACEUTICALS INC US VRTX 2,362 $822,779.08
VISA INC - CLASS A SHARES US V 6,793 $1,668,904.24
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 4,040,000 $3,713,585.86
WELLS FARGO COMPANY US WFC 1,109 $45,790.61
WELLTOWER INC. US WELL 1,354 $112,219.52
WIN 2015-1 A1 3.50000 01/20/2045 US 94,171.07 $84,051.48

Investments will change over time.

Distributions

  • Pro-Blend® Conservative Term Series Class S Distribution History
  • 2023 Distribution Calendar
  • 2023 Distributions
  • Tax Letter
  • Target Income Merger into Pro Blend Conservative
  • Target 2015 Merger into Pro Blend Conservative
  • Pro-Blend Conservative Series Stock Split

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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