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 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Blend® Series

Daily Price

$14.50

Daily $ Change

$0.02

Daily % Change

0.14%

as of 06/22/2021

Ticker

MNCWX

CUSIP

56382R324

Inception Date

04/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

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

Performance

As of 05/31/2021

YTD

3.79%

1 Year

13.16%

3 Year

8.96%

5 Year

7.12%

10 Year

5.42%

Inception
(11/01/1995)

5.95%

Inception performance is based on the Pro-Blend® Conservative Term Series Class S inception of 11/01/1995. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. 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 0.49%
Net 0.09%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 05/31/2021

TREASURY NOTES 23.19%
GOVERNMENT AGENCY 7.00%
TENCENT HOLDINGS 3.97500 04/11/2029 1.31%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.01%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.01%
CROWN CASTLE INTL CORP 3.10000 11/15/2029 0.97%
AMERICAN TOWER CORP 3.80000 08/15/2029 0.97%
VERIZON COMMUNICATIONS 4.27200 01/15/2036 0.96%
AMAZON.COM INC 0.95%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.93%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2021

Bonds 66.48%
Stocks 31.69%
Cash 1.83%

Detailed Asset Class Allocation

As of 05/31/2021

International Equities 6.91%
Small Capitalization 0.54%
Mid Capitalization 2.92%
Large Capitalization 21.31%
Long Term Fixed Income 18.29%
Intermediate Term Fixed Income 35.61%
Short Term Fixed Income 12.59%
Cash 1.83%

May Fund Holdings

As of 05/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,510,000 $1,717,172.00
00507V109 ACTIVISION INC US ATVI 10,334 $1,004,981.50
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 4,380,000 $4,809,297.20
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 105,000 $111,529.95
008474108 AGNICO EAGLE MINES LTD CA AEM 13,446 $964,750.50
008492100 AGREE REALTY CORP US ADC 2,727 $191,653.56
009126202 AIR LIQUIDE-ADR FR AIQUY 43,987 $1,492,039.04
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,660,000 $1,773,229.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 277,552.09 $311,593.72
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,665,000 $1,824,544.88
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 1,675,000 $1,560,482.16
02079K305 ALPHABET INC-CL A US GOOGL 1,707 $4,023,142.95
023135106 AMAZON.COM INC US AMZN 1,533 $4,940,966.31
0237400 DIAGEO PLC GB DGE LN 17,080 $823,656.90
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,116 $146,950.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 9,728 $370,344.96
03027X100 AMERICAN TOWER REIT INC US AMT 6,129 $1,565,714.34
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 4,560,000 $5,023,558.93
03064D108 AMERICOLD REALTY TRUST US COLD 6,114 $232,454.28
032654105 ANALOG DEVICES INC US ADI 3,888 $639,964.80
03784Y200 APPLE HOSPITALITY REIT INC US APLE 9,135 $144,972.45
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 160,000 $169,368.76
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,680,000 $1,768,233.60
053015103 AUTOMATIC DATA PROCESSING US ADP 3,808 $746,444.16
053484101 AVALONBAY COMMUNITIES INC US AVB 1,472 $304,615.68
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 1,680,000 $1,810,891.84
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,970,000 $2,022,024.96
05545E209 BHP GROUP PLC SPONSORED ADR AU BBL 17,835 $1,083,476.25
055622104 BP PLC-SPONS ADR GB BP 16,513 $433,135.99
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,540,000 $1,764,362.60
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 4,633,000 $4,719,208.55
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,350,000 $2,592,492.65
067901108 BARRICK GOLD CORP CA GOLD 40,232 $968,786.56
071734AM9 BAUSCH HEALTH COS INC 5.00000 02/15/2029 CA 105,000 $96,337.50
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 140,000 $142,100.00
084423102 WR BERKLEY CORP US WRB 15,113 $1,178,662.87
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,345 $968,176.80
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 22,539 $1,742,264.70
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,770,000 $1,789,629.32
105368203 BRANDYWINE REALTY TRUST US BDN 10,681 $150,174.86
110122108 BRISTOL MYERS SQUIBB CO US BMY 16,524 $1,085,957.28
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 19,577 $757,042.59
12345678 JONAH ENERGY PARENT LLC US 2,353 $35,295.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 160,000 $152,752.00
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 2,214,618.79 $2,235,462.34
12530MAC9 SORT 2020-1 B1 2.28000 07/15/2060 US 2,863,136.51 $2,917,920.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 320,867.78 $325,534.67
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 150,000 $156,750.00
12626K203 CRH PLC -SPONSORED ADR IE CRH 10,726 $558,502.82
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 484,147.61 $491,223.04
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 155,000 $161,781.25
127097103 CABOT OIL & GAS CORP US COG 113,257 $1,857,414.80
133131102 CAMDEN PROPERTY TRUST US CPT 1,801 $225,809.38
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 3,210,000 $3,336,036.09
13321L108 CAMECO CORP CA CCJ 58,442 $1,167,086.74
14174T107 CARETRUST REIT INC US CTRE 4,035 $93,934.80
149123101 CATERPILLAR INC US CAT 5,446 $1,312,921.68
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 486,962.66 $489,279.82
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 100,000 $112,000.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,389 $1,659,232.17
17275R102 CISCO SYSTEMS INC US CSCO 31,256 $1,653,442.40
172967424 CITIGROUP INC US C 16,067 $1,264,633.57
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 3,020,000 $3,456,338.66
191216100 COCA COLA CO/THE US KO 31,605 $1,747,440.45
194162103 COLGATE-PALMOLIVE CO US CL 9,230 $773,289.40
20030N101 COMCAST CORP-CL A US CMCSA 28,518 $1,635,222.12
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 3,930,000 $4,059,907.92
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,450,376.44 $1,489,178.07
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 4,230 $199,994.40
20825C104 CONOCOPHILLIPS US COP 27,179 $1,514,957.46
217204106 COPART INC US CPRT 7,854 $1,013,244.54
222795502 COUSINS PROPERTIES INC US CUZ 8,192 $303,841.28
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 155,000 $163,864.12
22534GAC7 CAALT 2020-1A B 2.39000 04/16/2029 US 1,150,000 $1,184,482.87
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 2,200,000 $2,210,674.84
22822V101 CROWN CASTLE INTL CORP US CCI 507 $96,076.50
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 4,830,000 $5,045,487.12
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 1,080,000 $1,146,398.46
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 295,628.32 $300,728.97
231021106 CUMMINS INC US CMI 2,265 $582,739.20
253868103 DIGITAL REALTY TRUST INC US DLR 2,538 $384,659.28
256677105 DOLLAR GENERAL CORP US DG 4,978 $1,010,334.88
256746108 DOLLAR TREE STORES INC US DLTR 8,810 $858,975.00
25960P109 DOUGLAS EMMETT INC US DEI 3,961 $137,525.92
26150TAE9 DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 US 250,000 $258,432.63
262006208 DREYFUS GVT CSH MANAGEMENT US 9,676,637.52 $9,676,637.52
264411505 DUKE RLTY INVTS INC US DRE 6,604 $306,821.84
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 160,000 $159,864.00
26875P101 EOG RESOURCES INC US EOG 12,994 $1,043,937.96
26884L109 EQT CORP US EQT 53,559 $1,118,311.92
285512109 ELECTRONIC ARTS US EA 6,876 $982,786.68
291011104 EMERSON ELEC CO US EMR 7,789 $745,329.41
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 4,170,000 $5,218,875.39
29275YAC6 ENERSYS 4.37500 12/15/2027 US 100,000 $103,435.00
29278MAC9 ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 US 155,000 $159,603.50
29444U700 EQUINIX INC US EQIX 2,834 $2,087,864.48
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 4,668 $330,774.48
297178105 ESSEX PROPERTY TRUST INC US ESS 829 $244,795.41
30212P303 EXPEDIA INC US EXPE 13,818 $2,445,095.10
30212PBB0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 1,600,000 $1,812,000.16
30225T102 EXTRA SPACE STORAGE INC US EXR 1,607 $240,744.67
30231G102 EXXON MOBIL CORP US XOM 13,295 $776,029.15
302491303 FMC CORP US FMC 12,412 $1,448,356.28
30262SAR9 FREMF 2015-K42 B FLT 3.85007 01/25/2048 US 490,000 $535,737.83
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 155,000 $158,100.00
30286XAN9 FREMF 2015-K43 B FLT 3.73217 02/25/2048 US 500,000 $545,212.95
30287EAE0 FREMF 2014-K41 B FLT 3.83317 11/25/2047 US 2,500,000 $2,734,188.00
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 186,714,652.12 $226,316.83
30303M102 FACEBOOK INC -A US FB 12,977 $4,265,929.21
303250104 FAIR ISAAC CORP US FICO 2,426 $1,227,701.56
3128LCD86 FHLM POOL A78227 5.50000 06/01/2038 US 83,904.43 $97,499.78
3128M56M7 FHLM POOL G04176 5.50000 05/01/2038 US 67,808.93 $78,986.53
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 213,886.22 $253,968.05
3128M6JQ2 FHLM POOL G04471 5.50000 07/01/2038 US 23,547.55 $27,399.84
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 149,365.1 $173,817.21
3128M6T99 FHLM POOL G04776 5.50000 07/01/2038 US 153,750.76 $179,014.85
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 36,488.05 $43,249.98
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 215,592.44 $250,884.03
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 189,229.92 $220,215.82
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 175,041.94 $207,376.37
3128M9GM8 FHLM POOL G07104 5.50000 05/01/2040 US 123,294.31 $137,906.06
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 65,901.95 $76,307.70
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 2,017.06 $2,033.87
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,704.76 $1,719.02
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 3,803.1 $3,893.38
3128MJG20 FHLM POOL G08216 5.50000 08/01/2037 US 201,014.91 $233,920.09
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 179,592.66 $209,195.30
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 66,936.28 $73,374.00
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 604,572.69 $661,082.41
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 759,782.93 $850,301.51
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 1,667,184.24 $1,728,362.40
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 5,255,431.45 $5,393,747.10
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 433,930.45 $448,945.70
31371N7J8 FEDERAL NATL MTG ASSN 123456 6.00000 12/01/2038 US 11,305.41 $13,293.38
3137AJMG6 FMHS K016 X1 FLT 1.48114 10/25/2021 US 5,283,508.17 $994.36
3137AME78 FHMS K017 X1 FLT 1.28412 12/25/2021 US 7,059,048.56 $10,655.63
3137AUPF0 FHMS K021 x1 FLT 1.39501 06/25/2022 US 13,987,703.49 $124,987.12
3137B3NB0 FHMS K030 X1 FLT 0.16317 04/25/2023 US 69,862,551.88 $189,634.91
3137B4GZ3 FHMS K032 X1 FLT 0.08554 05/25/2023 US 43,478,078.41 $89,943.10
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 203,728.02 $204,348.62
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 265,923.49 $291,918.95
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 512,924.05 $606,394.94
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 553,084.22 $618,363.45
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 309,834.8 $366,762.46
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 302,055.45 $331,059.93
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 913,323.16 $1,049,031.91
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 8,624,452 $9,311,589.43
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 259,863.75 $301,130.52
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 531,736.95 $573,744.67
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 216,526.58 $234,532.80
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 104,857.1 $113,880.30
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 398,061.01 $431,425.20
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 257,097.2 $276,672.17
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 232,879.88 $253,686.96
31410EKR8 FEDERAL NATL MTG ASSN 886904 6.50000 09/01/2036 US 36,675.36 $42,555.52
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 328.85 $329.97
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 866.7 $870.88
31410G5V1 FEDERAL NATL MTG ASSN 889260 5.00000 04/01/2038 US 10,897.54 $12,355.59
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 49.56 $49.63
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 820.4 $824.30
31410GN82 FEDERAL NATL MTG ASSN 888815 4.50000 11/01/2022 US 1,159.04 $1,213.20
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 251,749.97 $298,548.77
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 215,575.77 $251,004.78
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 458,164.08 $531,817.87
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 484,383.53 $562,648.39
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 72,241.34 $82,888.17
31411YN90 FEDERAL NATL MTG ASSN 918516 5.50000 06/01/2037 US 29,479.03 $33,976.48
31412SSJ5 FEDERAL NATL MTG ASSN 933521 5.00000 01/01/2038 US 7,255.6 $8,323.15
31414NG73 FEDERAL NATL MTG ASSN 971022 5.00000 01/01/2039 US 18,062.55 $20,739.02
31414TS51 FEDERAL NATL MTG ASSN 975840 5.00000 05/01/2038 US 30,004.58 $32,993.69
31415LXP7 FEDERAL NATL MTG ASSN 983686 5.00000 02/01/2039 US 14,684.58 $16,144.26
31415QZX7 FEDERAL NATL MTG ASSN 986458 6.00000 08/01/2038 US 6,344.45 $7,385.03
31415SLL4 FEDERAL NATL MTG ASSN 987831 6.00000 09/01/2038 US 9,293.72 $10,427.38
31415VX26 FEDERAL NATL MTG ASSN 990897 6.00000 09/01/2038 US 22,448.55 $25,306.33
31416ADZ0 FEDERAL NATL MTG ASSN 993920 6.00000 11/01/2038 US 59,696.63 $66,970.44
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 326,710.42 $388,098.54
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4.79 $4.80
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 502.19 $504.60
31416JWZ0 FEDERAL NATL MTG ASSN AA1563 4.50000 02/01/2024 US 7,280.01 $7,626.21
31416KAL2 FEDERAL NATL MTG ASSN AA1810 5.00000 01/01/2039 US 45,620.71 $51,698.19
31416QRJ6 FEDERAL NATL MTG ASSN AA6788 6.00000 08/01/2039 US 118,460.67 $134,449.27
31417AX61 FEDERAL NATL MTG ASSN AB4300 3.50000 01/01/2042 US 126,403.69 $136,600.58
31417JQR4 FEDERAL NATL MTG ASSN AC0463 5.00000 11/01/2039 US 28,831.98 $33,083.07
31417KWT0 FEDERAL NATL MTG ASSN AC1557 4.50000 09/01/2024 US 19,679.04 $20,692.18
31417QVD3 FEDERAL NATL MTG ASSN AC5111 5.00000 11/01/2039 US 43,712.4 $50,167.01
31417VQ30 FEDERAL NATL MTG ASSN AC8573 5.00000 01/01/2040 US 40,552.75 $46,114.00
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 492,076.07 $549,417.23
31417YJD0 FEDERAL NATL MTG ASSN MA0259 5.00000 12/01/2039 US 27,805.07 $31,937.72
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 386,951.76 $423,246.11
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 516,441.85 $565,948.21
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 1,183,050.14 $1,287,362.56
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 3,908,920.36 $4,060,887.30
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 43,240.24 $51,364.90
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 243,414.33 $283,409.82
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6,602.83 $6,914.33
31419AB71 FEDERAL NATL MTG ASSN AE0061 6.00000 02/01/2040 US 128,075.97 $151,428.92
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 287,025.67 $340,942.48
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,337 $118,345.68
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 3,660,000 $3,858,139.96
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 170,000 $207,700.90
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 105,000 $105,656.25
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 175,000 $201,906.25
357081AE8 FREMF 2015-K720 B FLT 3.39377 07/25/2022 US 270,000 $277,788.74
36167RAA1 GCT 2021-GCT A FLT 0.90100 02/15/2038 US 3,100,000 $3,103,892.36
36257MAA3 GSMS 2019-70P A 1.10100 10/15/2036 US 2,985,000 $2,984,067.49
36295HTS9 GNMA POOL 671161 5.50000 11/15/2037 US 27,364.8 $30,483.67
369550108 GENERAL DYNAMICS CORP US GD 3,045 $578,275.95
369604BQ5 GENERAL ELECTRIC CO 3.51388 01/21/2099 US 3,310,000 $3,183,558.00
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 270,000 $292,950.00
374297109 GETTY REALTY CORP US GTY 4,786 $148,988.18
375558103 GILEAD SCIENCES INC US GILD 11,550 $763,570.50
382550BL4 GOODYEAR TIRE & RUBBER 5.00000 07/15/2029 US 165,000 $168,415.50
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 116,702 $2,063,291.36
404119BX6 HCA INC 4.12500 06/15/2029 US 2,320,000 $2,599,745.60
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 185,000 $178,062.50
419792A22 HAWAII ST 2.68200 10/01/2030 US 2,660,000 $2,705,698.80
421946104 HEALTHCARE REALTY TRUST INC US HR 2,377 $72,118.18
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 5,448 $149,329.68
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 6,772 $226,049.36
423012301 HEINEKEN NV-SPN ADR NL HEINY 18,013 $1,077,717.79
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,114 $139,550.78
437076102 HOME DEPOT INC US HD 5,959 $1,900,384.69
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 2,776,880.63 $2,845,878.62
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 20,511 $641,173.86
438516106 HONEYWELL INTERNATIONAL INC US HON 6,295 $1,453,578.45
44267DAE7 HOWARD HUGHES CORP 4.12500 02/01/2029 US 110,000 $109,299.30
44988FAC4 IIP OPERATING PARTNER 5.50000 05/25/2026 US 160,000 $165,398.28
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 245,000 $257,250.00
451102BX4 ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 US 110,000 $112,612.50
45168D104 IDEXX LABORATORIES INC US IDXX 1,940 $1,082,733.40
452308109 ILLINOIS TOOL WKS INC US ITW 3,407 $789,606.32
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 275,000 $286,000.00
45778Q107 INSPERITY INC US NSP 11,230 $1,035,293.70
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 289 $52,086.47
458140100 INTEL CORP US INTC 28,414 $1,623,007.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 17,007 $1,919,750.16
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 7,341 $1,055,195.34
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 145,000 $155,150.00
46187BAA1 IHSFR 2017-SFR2 A 0.95100 12/17/2036 US 759,086.59 $760,446.65
46187BAB9 IHSFR 2017-SFR2 B 1.25100 12/17/2036 US 629,893.83 $630,173.69
46187W107 INVITATION HOMES INC US INVH 15,351 $556,780.77
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 600,000 $625,830.14
46625H100 JP MORGAN CHASE & CO US JPM 11,946 $1,962,011.04
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 217,997.21 $221,414.38
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 221,814.19 $225,727.04
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 548,219.44 $561,884.74
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 4,090,000 $4,239,776.33
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 78,464.14 $80,057.62
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 7,668.7 $7,666.95
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 8,236.76 $8,235.35
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 275,999.36 $279,634.27
478160104 JOHNSON & JOHNSON US JNJ 27,590 $4,669,607.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 152,000 $168,112.00
49427F108 KILROY REALTY CORP US KRC 3,451 $242,294.71
494368103 KIMBERLY CLARK CORP US KMB 3,886 $507,628.18
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 3,330,000 $4,636,164.43
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 9,114 $514,758.72
500754106 KRAFT HEINZ CO/THE US KHC 12,232 $533,192.88
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 150,000 $152,625.00
512816109 LAMAR ADVERTISING CO-A US LAMR 1,280 $134,169.60
53223X107 LIFE STORAGE INC US LSI 1,979 $196,791.76
539830109 LOCKHEED MARTIN CORP US LMT 2,489 $951,295.80
550021109 LULULEMON - ADR CA LULU 2,926 $945,478.38
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 235,000 $248,583.00
57636Q104 MASTERCARD INC-CLASS A US MA 7,575 $2,731,393.50
58933Y105 MERCK & CO INC US MRK 17,414 $1,321,548.46
594918104 MICROSOFT CORP US MSFT 11,966 $2,987,670.88
595112103 MICRON TECHNOLOGY INC US MU 11,919 $1,002,864.66
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,570 $412,999.00
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 48,204 $3,062,400.12
615369105 MOODY'S CORPORATION US MCO 5,304 $1,778,696.40
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 165,000 $145,200.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 175,000 $170,406.25
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 285,000 $313,143.75
63938EAC8 NAVSL 2014-1 A3 FLT 0.60163 06/25/2031 US 226,523.79 $224,841.69
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 100,000 $109,000.00
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 2,724,422.59 $2,789,746.34
64032XAA3 NSLT 2012-3A A MTGE FLT 0.79163 02/25/2045 US 239,294.59 $238,317.50
64033GAA9 NSLT 2013-5A A MTGE FLT 0.72163 01/25/2037 US 380,850.77 $378,455.94
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 150,000 $152,235.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 515,745.35 $552,096.27
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 523,587.11 $557,620.74
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 770,486.44 $821,767.09
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 950,000 $978,424.00
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,730,000 $1,783,540.44
651639106 NEWMONT GOLDCORP CORP US NEM 22,706 $1,668,436.88
655844108 NORFOLK SOUTHN CORP US NSC 3,478 $976,970.20
6642321 NIKON CORP JP 7731 JP 81,400 $849,834.46
666807102 NORTHROP GRUMMAN CORP US NOC 1,654 $605,148.98
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 880,000 $2,200.00
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 150,000 $155,250.00
66987V109 NOVARTIS AG- REG CH NVS 35,282 $3,118,223.16
67066G104 NVIDIA CORP US NVDA 1,597 $1,037,698.66
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 155,000 $164,300.00
68389X105 ORACLE CORP US ORCL 20,219 $1,592,044.06
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,780,000 $1,876,162.44
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 255,000 $263,165.87
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 2,088,462.34 $2,159,457.32
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 1,076,325.42 $1,099,094.98
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 255,000 $275,374.50
70450Y103 PAYPAL HOLDINGS INC US PYPL 7,925 $2,060,658.50
7123870 NESTLE SA-REGISTERED CH NESN SW 12,345 $1,524,832.03
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 62,068 $639,921.08
723787107 PIONEER NATURAL RESOURCES CO US PXD 6,498 $988,930.62
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 190,000 $207,812.50
742718109 PROCTER & GAMBLE CO US PG 13,428 $1,810,765.80
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 4,200,000 $4,311,803.58
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 3,502,835.24 $3,572,105.56
74340W103 PROLOGIS US PLD 10,054 $1,184,763.36
74460D109 PUBLIC STORAGE INC US PSA 1,828 $516,373.44
747525103 QUALCOMM INC US QCOM 8,700 $1,170,498.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 100,000 $106,500.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 8,185 $130,960.00
756109104 REALTY INCOME CORP US O 1,206 $82,490.40
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,853 $268,031.19
767204100 RIO TINTO PLC - SPON ADR GB RIO 10,871 $950,451.53
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 6,344 $230,414.08
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9,065 $1,058,338.75
78409V104 S&P GLOBAL INC US SPGI 1,920 $728,582.40
78410G104 SBA COMMUNICATIONS CORP US SBAC 9,237 $2,753,734.44
78442GQJ8 SLMA 2005-7 A4 FLT 0.32575 10/25/2029 US 202,129.46 $201,133.31
78442PGC4 SLM CORP 5.12500 04/05/2022 US 405,000 $413,100.00
78449GAB5 SMB 2016-B A2A 2.43000 02/17/2032 US 2,567,548.06 $2,636,290.31
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 340,000 $350,356.81
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 32,153.53 $32,568.38
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 45,883.35 $46,328.16
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 4,410,000 $5,235,774.53
80105N105 SANOFI-AVENTIS-ADR FR SNY 18,142 $969,327.06
81141R100 SEA LTD - ADR SG SE 7,454 $1,887,650.96
81181C104 SEAGEN INC US SGEN 12,278 $1,907,387.30
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 2,211,907.07 $2,241,688.41
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 298,017.47 $302,156.60
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 383,902.06 $389,338.31
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 311,020.99 $313,748.21
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 135,094.46 $138,418.70
81762P102 SERVICENOW INC US NOW 1,725 $817,443.00
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 311,526.02 $319,027.88
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 472,111.3 $475,169.35
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 260,949.28 $261,926.95
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 225,000 $233,094.42
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 160,000 $167,400.00
835699307 SONY CORP SPONSORED ADR JP SONY 10,380 $1,033,951.80
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 3,460,000 $3,558,852.20
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 810,000 $929,355.28
844741BK3 SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 2,530,000 $2,960,555.78
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 280,000 $291,984.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57090 11/15/2027 US 2,317,783.32 $1,709,365.20
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 250,000 $260,000.00
86184WAA4 STONEMOR INC 8.50000 05/15/2029 US 155,000 $153,062.50
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 2,132,076.69 $2,240,643.95
866674104 SUN COMMUNITIES US SUI 2,961 $495,730.62
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 2,390,583.75 $2,409,430.87
87105L104 SWITCH INC - A US SWCH 17,610 $332,300.70
87267CAA6 TRP 2021-1 A MTGE 2.07000 06/19/2051 US 2,000,000 $2,002,500.00
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 205,000 $212,687.50
874060205 TAKEDA PHARMACEUTIC - SP ADR JP TAK 30,190 $515,947.10
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 160,000 $135,200.00
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 155,000 $158,100.00
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 155,000 $158,293.75
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 6,195,000 $6,815,142.61
88146M101 TERRENO REALTY CORP US TRNO 2,835 $180,362.70
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,965 $922,567.50
88579Y101 3M CO US MMM 5,320 $1,080,172.80
88830MAL6 TITAN INTERNATIONAL INC 7.00000 04/30/2028 US 150,000 $156,330.00
89151E109 TOTAL S A SPONSORED ADR FR TOT 8,505 $397,098.45
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 933,128.94 $950,325.48
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 1,095,934.28 $1,112,413.51
89177EAA7 TPMT 2019-HY1 A1 1.09163 10/25/2048 US 1,134,940.27 $1,143,185.84
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 2,018,667.34 $2,068,487.44
902653104 UDR INC US UDR 5,231 $249,152.53
902973304 U.S. BANCORP US USB 15,720 $955,461.60
904767704 UNILEVER PLC - ADR GB UL 67,324 $4,037,420.28
907818108 UNION PAC CORP US UNP 5,923 $1,331,075.79
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 103,015.44 $101,084.65
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 100,853.73 $102,577.46
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 400,000 $454,164.00
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 24,925,000 $25,927,841.92
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 30,645,000 $31,597,867.97
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 29,600,000 $31,525,156.18
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 29,420,000 $31,239,213.35
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 1,200,000 $1,264,136.04
92276F100 VENTAS INC US VTR 1,075 $59,608.75
92343V104 VERIZON COMMUNICATIONS US VZ 25,202 $1,423,660.98
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 4,290,000 $4,968,116.14
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 11,465 $2,391,942.95
92826C839 VISA INC - CLASS A SHARES US V 13,943 $3,169,243.90
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 110,000 $110,574.20
93065PAA9 WBHT 2019-WBM A FLT 1.15100 12/15/2033 US 2,300,000 $2,298,588.26
931142103 WAL MART STORES US WMT 13,388 $1,901,497.64
93114W107 WALMART DE MEXICO MX WMMVY 32,460 $1,033,597.81
94106L109 WASTE MANAGEMENT INC US WM 5,035 $708,323.80
95040Q104 WELLTOWER INC. US WELL 1,417 $105,949.09
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 3,580,000 $3,568,355.66
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 212,387.3 $215,806.16
98978V103 ZOETIS INC US ZTS 3,055 $539,757.40
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 2,725,000 $136,771.25
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 327,000 $277,628.29
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,996,000 $255,072.41
B63QM77 NEXON CO LTD JP 3659 JP 31,700 $751,650.18
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $49,166.39
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 61,150 $89,334.10
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 375,000 $382,254.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 15,700 $1,227,440.28
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,930 $88,000.50
BP3061408 AIRSWIFT GLOBAL AS FLT 8.66750 05/12/2025 NO 200,000 $197,620.00
G29183103 EATON CORP PLC US ETN 5,030 $730,607.50
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 10,264 $682,966.56
G5494J103 LINDE PLC GB LIN 3,907 $1,174,444.20
G5960L103 MEDTRONIC INC IE MDT 8,327 $1,054,114.93
H01301128 ALCON INC CH ALC 26,336 $1,835,092.48
H1467J104 CHUBB LTD CH CB 4,255 $723,307.45
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 350,000 $366,187.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 300,000 $286,500.00

Investments will change over time.

Distributions

  • Pro-Blend® Conservative Term Series Class W Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 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.

Daily Price

$14.50

Daily $ Change

$0.02

Daily % Change

0.14%

as of 06/22/2021

Ticker

MNCWX

CUSIP

56382R324

Inception Date

04/01/2019

This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet ---
Applications & Forms
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 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Blend® Series

Performance

As of 05/31/2021

YTD

3.79%

1 Year

13.16%

3 Year

8.96%

5 Year

7.12%

10 Year

5.42%

Inception
(11/01/1995)

5.95%

Inception performance is based on the Pro-Blend® Conservative Term Series Class S inception of 11/01/1995. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. 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 0.49%
Net 0.09%*

*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.

Top Ten Investments

As of 05/31/2021

TREASURY NOTES 23.19%
GOVERNMENT AGENCY 7.00%
TENCENT HOLDINGS 3.97500 04/11/2029 1.31%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 1.01%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.01%
CROWN CASTLE INTL CORP 3.10000 11/15/2029 0.97%
AMERICAN TOWER CORP 3.80000 08/15/2029 0.97%
VERIZON COMMUNICATIONS 4.27200 01/15/2036 0.96%
AMAZON.COM INC 0.95%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.93%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2021

Bonds
66.48%
Stocks
31.69%
Cash
1.83%

Detailed Asset Class Allocation

As of 05/31/2021

International Equities
6.91%
Small Capitalization
0.54%
Mid Capitalization
2.92%
Large Capitalization
21.31%
Long Term Fixed Income
18.29%
Intermediate Term Fixed Income
35.61%
Short Term Fixed Income
12.59%
Cash
1.83%

May Fund Holdings

As of 05/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,510,000 $1,717,172.00
00507V109 ACTIVISION INC US ATVI 10,334 $1,004,981.50
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 4,380,000 $4,809,297.20
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 105,000 $111,529.95
008474108 AGNICO EAGLE MINES LTD CA AEM 13,446 $964,750.50
008492100 AGREE REALTY CORP US ADC 2,727 $191,653.56
009126202 AIR LIQUIDE-ADR FR AIQUY 43,987 $1,492,039.04
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,660,000 $1,773,229.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 277,552.09 $311,593.72
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,665,000 $1,824,544.88
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 1,675,000 $1,560,482.16
02079K305 ALPHABET INC-CL A US GOOGL 1,707 $4,023,142.95
023135106 AMAZON.COM INC US AMZN 1,533 $4,940,966.31
0237400 DIAGEO PLC GB DGE LN 17,080 $823,656.90
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,116 $146,950.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 9,728 $370,344.96
03027X100 AMERICAN TOWER REIT INC US AMT 6,129 $1,565,714.34
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 4,560,000 $5,023,558.93
03064D108 AMERICOLD REALTY TRUST US COLD 6,114 $232,454.28
032654105 ANALOG DEVICES INC US ADI 3,888 $639,964.80
03784Y200 APPLE HOSPITALITY REIT INC US APLE 9,135 $144,972.45
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 160,000 $169,368.76
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,680,000 $1,768,233.60
053015103 AUTOMATIC DATA PROCESSING US ADP 3,808 $746,444.16
053484101 AVALONBAY COMMUNITIES INC US AVB 1,472 $304,615.68
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 1,680,000 $1,810,891.84
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,970,000 $2,022,024.96
05545E209 BHP GROUP PLC SPONSORED ADR AU BBL 17,835 $1,083,476.25
055622104 BP PLC-SPONS ADR GB BP 16,513 $433,135.99
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,540,000 $1,764,362.60
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 4,633,000 $4,719,208.55
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 2,350,000 $2,592,492.65
067901108 BARRICK GOLD CORP CA GOLD 40,232 $968,786.56
071734AM9 BAUSCH HEALTH COS INC 5.00000 02/15/2029 CA 105,000 $96,337.50
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 140,000 $142,100.00
084423102 WR BERKLEY CORP US WRB 15,113 $1,178,662.87
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,345 $968,176.80
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 22,539 $1,742,264.70
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,770,000 $1,789,629.32
105368203 BRANDYWINE REALTY TRUST US BDN 10,681 $150,174.86
110122108 BRISTOL MYERS SQUIBB CO US BMY 16,524 $1,085,957.28
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 19,577 $757,042.59
12345678 JONAH ENERGY PARENT LLC US 2,353 $35,295.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 160,000 $152,752.00
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 2,214,618.79 $2,235,462.34
12530MAC9 SORT 2020-1 B1 2.28000 07/15/2060 US 2,863,136.51 $2,917,920.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 320,867.78 $325,534.67
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 150,000 $156,750.00
12626K203 CRH PLC -SPONSORED ADR IE CRH 10,726 $558,502.82
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 484,147.61 $491,223.04
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 155,000 $161,781.25
127097103 CABOT OIL & GAS CORP US COG 113,257 $1,857,414.80
133131102 CAMDEN PROPERTY TRUST US CPT 1,801 $225,809.38
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 3,210,000 $3,336,036.09
13321L108 CAMECO CORP CA CCJ 58,442 $1,167,086.74
14174T107 CARETRUST REIT INC US CTRE 4,035 $93,934.80
149123101 CATERPILLAR INC US CAT 5,446 $1,312,921.68
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 486,962.66 $489,279.82
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 100,000 $112,000.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,389 $1,659,232.17
17275R102 CISCO SYSTEMS INC US CSCO 31,256 $1,653,442.40
172967424 CITIGROUP INC US C 16,067 $1,264,633.57
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 3,020,000 $3,456,338.66
191216100 COCA COLA CO/THE US KO 31,605 $1,747,440.45
194162103 COLGATE-PALMOLIVE CO US CL 9,230 $773,289.40
20030N101 COMCAST CORP-CL A US CMCSA 28,518 $1,635,222.12
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 3,930,000 $4,059,907.92
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,450,376.44 $1,489,178.07
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 4,230 $199,994.40
20825C104 CONOCOPHILLIPS US COP 27,179 $1,514,957.46
217204106 COPART INC US CPRT 7,854 $1,013,244.54
222795502 COUSINS PROPERTIES INC US CUZ 8,192 $303,841.28
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 155,000 $163,864.12
22534GAC7 CAALT 2020-1A B 2.39000 04/16/2029 US 1,150,000 $1,184,482.87
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 2,200,000 $2,210,674.84
22822V101 CROWN CASTLE INTL CORP US CCI 507 $96,076.50
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 4,830,000 $5,045,487.12
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 1,080,000 $1,146,398.46
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 295,628.32 $300,728.97
231021106 CUMMINS INC US CMI 2,265 $582,739.20
253868103 DIGITAL REALTY TRUST INC US DLR 2,538 $384,659.28
256677105 DOLLAR GENERAL CORP US DG 4,978 $1,010,334.88
256746108 DOLLAR TREE STORES INC US DLTR 8,810 $858,975.00
25960P109 DOUGLAS EMMETT INC US DEI 3,961 $137,525.92
26150TAE9 DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 US 250,000 $258,432.63
262006208 DREYFUS GVT CSH MANAGEMENT US 9,676,637.52 $9,676,637.52
264411505 DUKE RLTY INVTS INC US DRE 6,604 $306,821.84
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 160,000 $159,864.00
26875P101 EOG RESOURCES INC US EOG 12,994 $1,043,937.96
26884L109 EQT CORP US EQT 53,559 $1,118,311.92
285512109 ELECTRONIC ARTS US EA 6,876 $982,786.68
291011104 EMERSON ELEC CO US EMR 7,789 $745,329.41
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 4,170,000 $5,218,875.39
29275YAC6 ENERSYS 4.37500 12/15/2027 US 100,000 $103,435.00
29278MAC9 ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 US 155,000 $159,603.50
29444U700 EQUINIX INC US EQIX 2,834 $2,087,864.48
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 4,668 $330,774.48
297178105 ESSEX PROPERTY TRUST INC US ESS 829 $244,795.41
30212P303 EXPEDIA INC US EXPE 13,818 $2,445,095.10
30212PBB0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 1,600,000 $1,812,000.16
30225T102 EXTRA SPACE STORAGE INC US EXR 1,607 $240,744.67
30231G102 EXXON MOBIL CORP US XOM 13,295 $776,029.15
302491303 FMC CORP US FMC 12,412 $1,448,356.28
30262SAR9 FREMF 2015-K42 B FLT 3.85007 01/25/2048 US 490,000 $535,737.83
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 155,000 $158,100.00
30286XAN9 FREMF 2015-K43 B FLT 3.73217 02/25/2048 US 500,000 $545,212.95
30287EAE0 FREMF 2014-K41 B FLT 3.83317 11/25/2047 US 2,500,000 $2,734,188.00
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 186,714,652.12 $226,316.83
30303M102 FACEBOOK INC -A US FB 12,977 $4,265,929.21
303250104 FAIR ISAAC CORP US FICO 2,426 $1,227,701.56
3128LCD86 FHLM POOL A78227 5.50000 06/01/2038 US 83,904.43 $97,499.78
3128M56M7 FHLM POOL G04176 5.50000 05/01/2038 US 67,808.93 $78,986.53
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 213,886.22 $253,968.05
3128M6JQ2 FHLM POOL G04471 5.50000 07/01/2038 US 23,547.55 $27,399.84
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 149,365.1 $173,817.21
3128M6T99 FHLM POOL G04776 5.50000 07/01/2038 US 153,750.76 $179,014.85
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 36,488.05 $43,249.98
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 215,592.44 $250,884.03
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 189,229.92 $220,215.82
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 175,041.94 $207,376.37
3128M9GM8 FHLM POOL G07104 5.50000 05/01/2040 US 123,294.31 $137,906.06
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 65,901.95 $76,307.70
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 2,017.06 $2,033.87
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,704.76 $1,719.02
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 3,803.1 $3,893.38
3128MJG20 FHLM POOL G08216 5.50000 08/01/2037 US 201,014.91 $233,920.09
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 179,592.66 $209,195.30
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 66,936.28 $73,374.00
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 604,572.69 $661,082.41
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 759,782.93 $850,301.51
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 1,667,184.24 $1,728,362.40
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 5,255,431.45 $5,393,747.10
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 433,930.45 $448,945.70
31371N7J8 FEDERAL NATL MTG ASSN 123456 6.00000 12/01/2038 US 11,305.41 $13,293.38
3137AJMG6 FMHS K016 X1 FLT 1.48114 10/25/2021 US 5,283,508.17 $994.36
3137AME78 FHMS K017 X1 FLT 1.28412 12/25/2021 US 7,059,048.56 $10,655.63
3137AUPF0 FHMS K021 x1 FLT 1.39501 06/25/2022 US 13,987,703.49 $124,987.12
3137B3NB0 FHMS K030 X1 FLT 0.16317 04/25/2023 US 69,862,551.88 $189,634.91
3137B4GZ3 FHMS K032 X1 FLT 0.08554 05/25/2023 US 43,478,078.41 $89,943.10
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 203,728.02 $204,348.62
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 265,923.49 $291,918.95
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 512,924.05 $606,394.94
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 553,084.22 $618,363.45
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 309,834.8 $366,762.46
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 302,055.45 $331,059.93
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 913,323.16 $1,049,031.91
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 8,624,452 $9,311,589.43
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 259,863.75 $301,130.52
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 531,736.95 $573,744.67
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 216,526.58 $234,532.80
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 104,857.1 $113,880.30
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 398,061.01 $431,425.20
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 257,097.2 $276,672.17
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 232,879.88 $253,686.96
31410EKR8 FEDERAL NATL MTG ASSN 886904 6.50000 09/01/2036 US 36,675.36 $42,555.52
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 328.85 $329.97
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 866.7 $870.88
31410G5V1 FEDERAL NATL MTG ASSN 889260 5.00000 04/01/2038 US 10,897.54 $12,355.59
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 49.56 $49.63
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 820.4 $824.30
31410GN82 FEDERAL NATL MTG ASSN 888815 4.50000 11/01/2022 US 1,159.04 $1,213.20
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 251,749.97 $298,548.77
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 215,575.77 $251,004.78
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 458,164.08 $531,817.87
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 484,383.53 $562,648.39
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 72,241.34 $82,888.17
31411YN90 FEDERAL NATL MTG ASSN 918516 5.50000 06/01/2037 US 29,479.03 $33,976.48
31412SSJ5 FEDERAL NATL MTG ASSN 933521 5.00000 01/01/2038 US 7,255.6 $8,323.15
31414NG73 FEDERAL NATL MTG ASSN 971022 5.00000 01/01/2039 US 18,062.55 $20,739.02
31414TS51 FEDERAL NATL MTG ASSN 975840 5.00000 05/01/2038 US 30,004.58 $32,993.69
31415LXP7 FEDERAL NATL MTG ASSN 983686 5.00000 02/01/2039 US 14,684.58 $16,144.26
31415QZX7 FEDERAL NATL MTG ASSN 986458 6.00000 08/01/2038 US 6,344.45 $7,385.03
31415SLL4 FEDERAL NATL MTG ASSN 987831 6.00000 09/01/2038 US 9,293.72 $10,427.38
31415VX26 FEDERAL NATL MTG ASSN 990897 6.00000 09/01/2038 US 22,448.55 $25,306.33
31416ADZ0 FEDERAL NATL MTG ASSN 993920 6.00000 11/01/2038 US 59,696.63 $66,970.44
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 326,710.42 $388,098.54
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4.79 $4.80
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 502.19 $504.60
31416JWZ0 FEDERAL NATL MTG ASSN AA1563 4.50000 02/01/2024 US 7,280.01 $7,626.21
31416KAL2 FEDERAL NATL MTG ASSN AA1810 5.00000 01/01/2039 US 45,620.71 $51,698.19
31416QRJ6 FEDERAL NATL MTG ASSN AA6788 6.00000 08/01/2039 US 118,460.67 $134,449.27
31417AX61 FEDERAL NATL MTG ASSN AB4300 3.50000 01/01/2042 US 126,403.69 $136,600.58
31417JQR4 FEDERAL NATL MTG ASSN AC0463 5.00000 11/01/2039 US 28,831.98 $33,083.07
31417KWT0 FEDERAL NATL MTG ASSN AC1557 4.50000 09/01/2024 US 19,679.04 $20,692.18
31417QVD3 FEDERAL NATL MTG ASSN AC5111 5.00000 11/01/2039 US 43,712.4 $50,167.01
31417VQ30 FEDERAL NATL MTG ASSN AC8573 5.00000 01/01/2040 US 40,552.75 $46,114.00
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 492,076.07 $549,417.23
31417YJD0 FEDERAL NATL MTG ASSN MA0259 5.00000 12/01/2039 US 27,805.07 $31,937.72
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 386,951.76 $423,246.11
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 516,441.85 $565,948.21
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 1,183,050.14 $1,287,362.56
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 3,908,920.36 $4,060,887.30
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 43,240.24 $51,364.90
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 243,414.33 $283,409.82
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6,602.83 $6,914.33
31419AB71 FEDERAL NATL MTG ASSN AE0061 6.00000 02/01/2040 US 128,075.97 $151,428.92
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 287,025.67 $340,942.48
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,337 $118,345.68
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 3,660,000 $3,858,139.96
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 170,000 $207,700.90
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 105,000 $105,656.25
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 175,000 $201,906.25
357081AE8 FREMF 2015-K720 B FLT 3.39377 07/25/2022 US 270,000 $277,788.74
36167RAA1 GCT 2021-GCT A FLT 0.90100 02/15/2038 US 3,100,000 $3,103,892.36
36257MAA3 GSMS 2019-70P A 1.10100 10/15/2036 US 2,985,000 $2,984,067.49
36295HTS9 GNMA POOL 671161 5.50000 11/15/2037 US 27,364.8 $30,483.67
369550108 GENERAL DYNAMICS CORP US GD 3,045 $578,275.95
369604BQ5 GENERAL ELECTRIC CO 3.51388 01/21/2099 US 3,310,000 $3,183,558.00
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 270,000 $292,950.00
374297109 GETTY REALTY CORP US GTY 4,786 $148,988.18
375558103 GILEAD SCIENCES INC US GILD 11,550 $763,570.50
382550BL4 GOODYEAR TIRE & RUBBER 5.00000 07/15/2029 US 165,000 $168,415.50
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 116,702 $2,063,291.36
404119BX6 HCA INC 4.12500 06/15/2029 US 2,320,000 $2,599,745.60
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 185,000 $178,062.50
419792A22 HAWAII ST 2.68200 10/01/2030 US 2,660,000 $2,705,698.80
421946104 HEALTHCARE REALTY TRUST INC US HR 2,377 $72,118.18
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 5,448 $149,329.68
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 6,772 $226,049.36
423012301 HEINEKEN NV-SPN ADR NL HEINY 18,013 $1,077,717.79
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,114 $139,550.78
437076102 HOME DEPOT INC US HD 5,959 $1,900,384.69
43731QAA6 HPA 2019-1 A 2.90800 09/17/2039 US 2,776,880.63 $2,845,878.62
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 20,511 $641,173.86
438516106 HONEYWELL INTERNATIONAL INC US HON 6,295 $1,453,578.45
44267DAE7 HOWARD HUGHES CORP 4.12500 02/01/2029 US 110,000 $109,299.30
44988FAC4 IIP OPERATING PARTNER 5.50000 05/25/2026 US 160,000 $165,398.28
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 245,000 $257,250.00
451102BX4 ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 US 110,000 $112,612.50
45168D104 IDEXX LABORATORIES INC US IDXX 1,940 $1,082,733.40
452308109 ILLINOIS TOOL WKS INC US ITW 3,407 $789,606.32
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 275,000 $286,000.00
45778Q107 INSPERITY INC US NSP 11,230 $1,035,293.70
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 289 $52,086.47
458140100 INTEL CORP US INTC 28,414 $1,623,007.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 17,007 $1,919,750.16
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 7,341 $1,055,195.34
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 145,000 $155,150.00
46187BAA1 IHSFR 2017-SFR2 A 0.95100 12/17/2036 US 759,086.59 $760,446.65
46187BAB9 IHSFR 2017-SFR2 B 1.25100 12/17/2036 US 629,893.83 $630,173.69
46187W107 INVITATION HOMES INC US INVH 15,351 $556,780.77
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 600,000 $625,830.14
46625H100 JP MORGAN CHASE & CO US JPM 11,946 $1,962,011.04
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 217,997.21 $221,414.38
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 221,814.19 $225,727.04
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 548,219.44 $561,884.74
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 4,090,000 $4,239,776.33
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 78,464.14 $80,057.62
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 7,668.7 $7,666.95
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 8,236.76 $8,235.35
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 275,999.36 $279,634.27
478160104 JOHNSON & JOHNSON US JNJ 27,590 $4,669,607.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 152,000 $168,112.00
49427F108 KILROY REALTY CORP US KRC 3,451 $242,294.71
494368103 KIMBERLY CLARK CORP US KMB 3,886 $507,628.18
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 3,330,000 $4,636,164.43
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 9,114 $514,758.72
500754106 KRAFT HEINZ CO/THE US KHC 12,232 $533,192.88
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 150,000 $152,625.00
512816109 LAMAR ADVERTISING CO-A US LAMR 1,280 $134,169.60
53223X107 LIFE STORAGE INC US LSI 1,979 $196,791.76
539830109 LOCKHEED MARTIN CORP US LMT 2,489 $951,295.80
550021109 LULULEMON - ADR CA LULU 2,926 $945,478.38
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 235,000 $248,583.00
57636Q104 MASTERCARD INC-CLASS A US MA 7,575 $2,731,393.50
58933Y105 MERCK & CO INC US MRK 17,414 $1,321,548.46
594918104 MICROSOFT CORP US MSFT 11,966 $2,987,670.88
595112103 MICRON TECHNOLOGY INC US MU 11,919 $1,002,864.66
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,570 $412,999.00
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 48,204 $3,062,400.12
615369105 MOODY'S CORPORATION US MCO 5,304 $1,778,696.40
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 165,000 $145,200.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 175,000 $170,406.25
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 285,000 $313,143.75
63938EAC8 NAVSL 2014-1 A3 FLT 0.60163 06/25/2031 US 226,523.79 $224,841.69
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 100,000 $109,000.00
63941MAB7 NAVSL 2019-EA A2A 2.64000 05/15/2068 US 2,724,422.59 $2,789,746.34
64032XAA3 NSLT 2012-3A A MTGE FLT 0.79163 02/25/2045 US 239,294.59 $238,317.50
64033GAA9 NSLT 2013-5A A MTGE FLT 0.72163 01/25/2037 US 380,850.77 $378,455.94
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 150,000 $152,235.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 515,745.35 $552,096.27
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 523,587.11 $557,620.74
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 770,486.44 $821,767.09
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 950,000 $978,424.00
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,730,000 $1,783,540.44
651639106 NEWMONT GOLDCORP CORP US NEM 22,706 $1,668,436.88
655844108 NORFOLK SOUTHN CORP US NSC 3,478 $976,970.20
6642321 NIKON CORP JP 7731 JP 81,400 $849,834.46
666807102 NORTHROP GRUMMAN CORP US NOC 1,654 $605,148.98
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 880,000 $2,200.00
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 150,000 $155,250.00
66987V109 NOVARTIS AG- REG CH NVS 35,282 $3,118,223.16
67066G104 NVIDIA CORP US NVDA 1,597 $1,037,698.66
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 155,000 $164,300.00
68389X105 ORACLE CORP US ORCL 20,219 $1,592,044.06
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,780,000 $1,876,162.44
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 255,000 $263,165.87
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 2,088,462.34 $2,159,457.32
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 1,076,325.42 $1,099,094.98
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 255,000 $275,374.50
70450Y103 PAYPAL HOLDINGS INC US PYPL 7,925 $2,060,658.50
7123870 NESTLE SA-REGISTERED CH NESN SW 12,345 $1,524,832.03
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 62,068 $639,921.08
723787107 PIONEER NATURAL RESOURCES CO US PXD 6,498 $988,930.62
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 190,000 $207,812.50
742718109 PROCTER & GAMBLE CO US PG 13,428 $1,810,765.80
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 4,200,000 $4,311,803.58
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 3,502,835.24 $3,572,105.56
74340W103 PROLOGIS US PLD 10,054 $1,184,763.36
74460D109 PUBLIC STORAGE INC US PSA 1,828 $516,373.44
747525103 QUALCOMM INC US QCOM 8,700 $1,170,498.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 100,000 $106,500.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 8,185 $130,960.00
756109104 REALTY INCOME CORP US O 1,206 $82,490.40
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,853 $268,031.19
767204100 RIO TINTO PLC - SPON ADR GB RIO 10,871 $950,451.53
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 6,344 $230,414.08
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 9,065 $1,058,338.75
78409V104 S&P GLOBAL INC US SPGI 1,920 $728,582.40
78410G104 SBA COMMUNICATIONS CORP US SBAC 9,237 $2,753,734.44
78442GQJ8 SLMA 2005-7 A4 FLT 0.32575 10/25/2029 US 202,129.46 $201,133.31
78442PGC4 SLM CORP 5.12500 04/05/2022 US 405,000 $413,100.00
78449GAB5 SMB 2016-B A2A 2.43000 02/17/2032 US 2,567,548.06 $2,636,290.31
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 340,000 $350,356.81
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 32,153.53 $32,568.38
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 45,883.35 $46,328.16
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 4,410,000 $5,235,774.53
80105N105 SANOFI-AVENTIS-ADR FR SNY 18,142 $969,327.06
81141R100 SEA LTD - ADR SG SE 7,454 $1,887,650.96
81181C104 SEAGEN INC US SGEN 12,278 $1,907,387.30
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 2,211,907.07 $2,241,688.41
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 298,017.47 $302,156.60
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 383,902.06 $389,338.31
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 311,020.99 $313,748.21
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 135,094.46 $138,418.70
81762P102 SERVICENOW INC US NOW 1,725 $817,443.00
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 311,526.02 $319,027.88
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 472,111.3 $475,169.35
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 260,949.28 $261,926.95
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 225,000 $233,094.42
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 160,000 $167,400.00
835699307 SONY CORP SPONSORED ADR JP SONY 10,380 $1,033,951.80
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 3,460,000 $3,558,852.20
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 810,000 $929,355.28
844741BK3 SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 2,530,000 $2,960,555.78
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 280,000 $291,984.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57090 11/15/2027 US 2,317,783.32 $1,709,365.20
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 250,000 $260,000.00
86184WAA4 STONEMOR INC 8.50000 05/15/2029 US 155,000 $153,062.50
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 2,132,076.69 $2,240,643.95
866674104 SUN COMMUNITIES US SUI 2,961 $495,730.62
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 2,390,583.75 $2,409,430.87
87105L104 SWITCH INC - A US SWCH 17,610 $332,300.70
87267CAA6 TRP 2021-1 A MTGE 2.07000 06/19/2051 US 2,000,000 $2,002,500.00
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 205,000 $212,687.50
874060205 TAKEDA PHARMACEUTIC - SP ADR JP TAK 30,190 $515,947.10
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 160,000 $135,200.00
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 155,000 $158,100.00
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 155,000 $158,293.75
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 6,195,000 $6,815,142.61
88146M101 TERRENO REALTY CORP US TRNO 2,835 $180,362.70
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,965 $922,567.50
88579Y101 3M CO US MMM 5,320 $1,080,172.80
88830MAL6 TITAN INTERNATIONAL INC 7.00000 04/30/2028 US 150,000 $156,330.00
89151E109 TOTAL S A SPONSORED ADR FR TOT 8,505 $397,098.45
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 933,128.94 $950,325.48
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 1,095,934.28 $1,112,413.51
89177EAA7 TPMT 2019-HY1 A1 1.09163 10/25/2048 US 1,134,940.27 $1,143,185.84
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 2,018,667.34 $2,068,487.44
902653104 UDR INC US UDR 5,231 $249,152.53
902973304 U.S. BANCORP US USB 15,720 $955,461.60
904767704 UNILEVER PLC - ADR GB UL 67,324 $4,037,420.28
907818108 UNION PAC CORP US UNP 5,923 $1,331,075.79
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 103,015.44 $101,084.65
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 100,853.73 $102,577.46
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 400,000 $454,164.00
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 24,925,000 $25,927,841.92
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 30,645,000 $31,597,867.97
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 29,600,000 $31,525,156.18
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 29,420,000 $31,239,213.35
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 1,200,000 $1,264,136.04
92276F100 VENTAS INC US VTR 1,075 $59,608.75
92343V104 VERIZON COMMUNICATIONS US VZ 25,202 $1,423,660.98
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 4,290,000 $4,968,116.14
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 11,465 $2,391,942.95
92826C839 VISA INC - CLASS A SHARES US V 13,943 $3,169,243.90
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 110,000 $110,574.20
93065PAA9 WBHT 2019-WBM A FLT 1.15100 12/15/2033 US 2,300,000 $2,298,588.26
931142103 WAL MART STORES US WMT 13,388 $1,901,497.64
93114W107 WALMART DE MEXICO MX WMMVY 32,460 $1,033,597.81
94106L109 WASTE MANAGEMENT INC US WM 5,035 $708,323.80
95040Q104 WELLTOWER INC. US WELL 1,417 $105,949.09
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 3,580,000 $3,568,355.66
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 212,387.3 $215,806.16
98978V103 ZOETIS INC US ZTS 3,055 $539,757.40
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 2,725,000 $136,771.25
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 327,000 $277,628.29
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,996,000 $255,072.41
B63QM77 NEXON CO LTD JP 3659 JP 31,700 $751,650.18
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 908,000 $49,166.39
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 61,150 $89,334.10
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 375,000 $382,254.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 15,700 $1,227,440.28
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,930 $88,000.50
BP3061408 AIRSWIFT GLOBAL AS FLT 8.66750 05/12/2025 NO 200,000 $197,620.00
G29183103 EATON CORP PLC US ETN 5,030 $730,607.50
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 10,264 $682,966.56
G5494J103 LINDE PLC GB LIN 3,907 $1,174,444.20
G5960L103 MEDTRONIC INC IE MDT 8,327 $1,054,114.93
H01301128 ALCON INC CH ALC 26,336 $1,835,092.48
H1467J104 CHUBB LTD CH CB 4,255 $723,307.45
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 350,000 $366,187.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 300,000 $286,500.00

Investments will change over time.

Distributions

  • Pro-Blend® Conservative Term Series Class W Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2021 Distributions
  • First Quarter 2021 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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