Investment Objective

To provide long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of stocks, bonds, alternatives, and cash that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

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 want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

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

$16.84

Daily $ Change

$0.01

Daily % Change

0.06%

as of 12/11/2018

Ticker

MNBAX

CUSIP

563821768

Inception Date

10/12/1993

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
Fact Sheet
Applications & Forms
XBRL-3/20/18

Performance

As of 11/30/2018

YTD

-1.06%

1 Year

0.04%

3 Year

4.85%

5 Year

3.67%

10 Year

8.15%

Inception
(10/12/1993)

7.86%

US Stock Market Cycle (04/01/2000 - 11/30/2018)

6.27%

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 1.08%*

Includes a shareholder servicing fee of 0.25%.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 10.77%
TREASURY BONDS 6.58%
GOVERNMENT AGENCY 6.00%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.98%
NOVARTIS AG- REG 1.88%
QORVO INC 1.72%
BOOKING HOLDINGS INC 1.58%
MICROSOFT CORP 1.54%
JOHNSON & JOHNSON 1.52%
MASTERCARD INC-CLASS A 1.47%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2018

Bonds 49.95%
Stocks 49.83%
Cash 0.22%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities 18.42%
Small Capitalization 0.76%
Mid Capitalization 4.32%
Large Capitalization 26.33%
Long Term Fixed Income 16.83%
Intermediate Term Fixed Income 24.17%
Short Term Fixed Income 8.95%
Cash 0.22%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 110,000 $110,825.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 2,280,000 $2,197,712.36
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 2,179,000 $2,152,862.61
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 506,000 $516,120.00
004239109 ACADIA REALTY TRUST US AKR 2,080 $59,633.60
0045614 ANTOFAGASTA PLC GB ANTO LN 24,905 $255,571.70
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,260,000 $2,199,880.72
008492100 AGREE REALTY CORP US ADC 1,240 $73,866.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 140,000 $143,125.07
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 455 $56,647.50
01609W102 ALIBABA GROUP - ADR CN BABA 20,705 $3,330,606.30
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 175,000 $175,000.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 160,000 $159,550.40
02079K107 ALPHABET INC-CL C US GOOG 4,140 $4,530,940.20
02079K305 ALPHABET INC-CL A US GOOGL 2,410 $2,674,256.50
023135106 AMAZON.COM INC US AMZN 1,310 $2,214,122.70
02319V103 AMBEV SA-ADR BR ABEV 651,923 $2,783,711.21
0237400 DIAGEO PLC GB DGE LN 180,370 $6,513,750.96
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 140,000 $140,875.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,545 $67,717.35
0263494 BAE SYSTEMS PLC GB BA/ LN 22,055 $138,644.81
02665T306 AMERICAN HOMES 4 RENT- A US AMH 11,180 $232,879.40
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 2,190,000 $2,067,422.87
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 175,000 $169,312.50
03027X100 AMERICAN TOWER REIT INC US AMT 20,005 $3,290,622.45
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 82,046.69 $82,521.51
03064D108 AMERICOLD REALTY TRUST US COLD 2,270 $60,836.00
03748R101 APARTMENT INVT & MGMT CO -A US AIV 4,570 $215,201.30
03784Y200 APPLE HOSPITALITY REIT INC US APLE 3,415 $54,196.05
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 200,000 $186,250.00
0405207 HALMA PLC GB HLMA LN 6,520 $114,445.42
0490656 KERRY GROUP PLC-A IE KYGA LN 2,015 $208,272.86
053484101 AVALONBAY COMMUNITIES INC US AVB 2,860 $545,030.20
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 2,411,000 $2,304,689.37
058498106 BALL CORP US BLL 156,260 $7,673,928.60
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,190,000 $3,094,002.95
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 18,850 $4,113,824.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 29,290 $2,812,718.70
0922320 SMITH & NEPHEW PLC GB SN/ LN 7,685 $140,254.32
09247X101 BLACKROCK INC US BLK 3,365 $1,440,253.65
0946580 WEIR GROUP PLC/THE GB WEIR LN 13,170 $248,721.03
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 2,980,000 $3,034,524.52
09857L108 BOOKING HOLDINGS INC US BKNG 4,600 $8,702,648.00
101121101 BOSTON PROPERTIES INC US BXP 2,870 $376,544.00
105368203 BRANDYWINE REALTY TRUST US BDN 15,030 $214,478.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 56,122 $3,000,282.12
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,355 $82,118.85
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 175,000 $169,750.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 25,015 $2,692,114.30
12572Q105 CME GROUP INC US CME 14,620 $2,778,969.60
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 2,410,000 $2,401,058.90
126307AU1 CSC HOLDINGS LLC 5.50000 05/15/2026 US 200,000 $193,687.50
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 605,667.88 $560,734.65
13321L108 CAMECO CORP CA CCJ 8,196 $97,368.48
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 75,436.32 $75,059.14
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 1,279,299.77 $1,275,295.31
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 340,000 $306,425.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 4,864,256.41 $4,807,105.29
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 1,284,408.49 $1,268,387.55
165240102 CHESAPEAKE LODGING TRUST US CHSP 2,840 $83,978.80
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 2,230,000 $3,046,661.86
191216100 COCA COLA CO/THE US KO 109,870 $5,537,448.00
19626G108 COLONY CAPITAL INC US CLNY 12,890 $79,402.40
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 1,990 $104,438.87
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 5,448 $171,829.92
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 5,150 $129,423.47
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 825 $70,885.49
21871N101 CORECIVIC INC US CXW 6,965 $152,881.75
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 350,000 $369,488.41
222795106 COUSINS PROPERTIES INC US CUZ 26,165 $221,094.25
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 155,000 $144,150.00
2242059 FOMENTO ECONOMICO EXICA-UBD MX 10,500 $90,984.95
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 1,224,000 $1,218,145.73
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 170,000 $163,625.00
22822V101 CROWN CASTLE INTL CORP US CCI 1,565 $179,818.50
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 558,024.78 $510,170.81
229663109 CUBESMART US CUBE 1,645 $51,225.30
2306814 EL PUERTO DE LIVERPOOL -C1 MX 20,475 $121,982.36
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 4,200 $48,473.24
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 110,000 $111,100.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 15,080 $138,468.37
23918K108 DAVITA INC. US DVA 44,965 $2,970,387.90
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 195,000 $182,812.50
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 26,320 $50,315.60
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 26,600 $62,077.01
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 16,300 $52,015.00
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 6,100 $31,091.54
25271C102 DIAMOND OFFSHORE DRILLING US DO 86,640 $1,091,664.00
253868103 DIGITAL REALTY TRUST INC US DLR 3,175 $365,252.00
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,230,000 $2,056,173.26
2583952 METRO INC CA MRU CN 2,050 $70,665.71
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 245,000 $240,712.50
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 272,000 $269,620.00
269246401 ETRADE FINANCIAL CORP US ETFC 28,430 $1,486,604.70
2715777 QUEBECOR INC -CL B CA QBR/B CN 86,550 $1,867,601.32
277276101 EASTGROUP PROPERTIES US EGP 540 $54,010.80
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 79,195 $1,490,736.42
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 9,100 $47,065.38
285512109 ELECTRONIC ARTS US EA 40,300 $3,388,021.00
2866857 LUNDIN MINING CORP CA LUN CN 33,600 $146,422.31
29444U700 EQUINIX INC US EQIX 11,125 $4,286,240.00
2945422 WEG SA BR WEGE3 BZ 6,100 $28,110.16
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,415 $140,834.95
29476L107 EQUITY RESIDENTIAL US EQR 5,660 $403,275.00
297178105 ESSEX PROPERTY TRUST INC US ESS 950 $249,384.50
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,625,000 $4,553,363.38
30225T102 EXTRA SPACE STORAGE INC US EXR 1,360 $130,532.80
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 153,480.39 $152,701.77
30261UAJ3 FREMF 2013-K713 B 3.26265 04/25/2046 US 1,350,000 $1,343,450.75
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 230,000 $225,400.00
30287EAE0 FREMF 2014-K41 B FLT 3.96255 11/25/2047 US 1,315,000 $1,299,056.02
30291EAE4 FREMF 2013-K712 B FLT 3.47306 05/25/2045 US 767,000 $765,301.40
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 77,535,827.08 $259,946.61
30291XAE2 FREMF 2014-K715 B FLT 4.11882 02/25/2046 US 1,279,000 $1,289,973.18
30292HAU0 FREMF 2014- K503 B 3.13900 10/25/2047 US 1,325,000 $1,320,774.58
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 124,898.8 $137,095.52
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 498,475.7 $535,470.60
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 553,839.72 $594,159.17
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 189,329.18 $204,185.11
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 155,678.74 $170,932.00
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 8,951.28 $9,193.10
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 21,283.73 $21,772.86
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 14,656.24 $15,041.94
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 11,610.01 $11,960.86
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 20,515.38 $21,128.96
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 237,697.92 $255,560.14
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 439,911.3 $456,743.01
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 406,972.01 $423,566.33
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 474,602.01 $492,728.40
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,389,838.82 $1,445,714.15
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 674,284.44 $680,149.09
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 625,509.89 $630,317.31
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 17,713.23 $17,824.09
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 979,866.17 $974,684.25
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 470 $62,082.30
3137A2B34 FHMS K009 X1 FLT 1.44443 08/25/2020 US 7,910,579.52 $135,937.77
3137ADTK3 FHMS K014 X1 FLT 1.32338 04/25/2021 US 9,020,247.37 $213,442.51
3137AJMG6 FMHS K016 X1 FLT 1.64995 10/25/2021 US 3,910,252.44 $140,185.29
3137AME78 FHMS K017 X1 FLT 1.45146 12/25/2021 US 16,119,013.64 $523,788.96
3137AUPF0 FHMS K021 x1 FLT 1.57841 06/25/2022 US 10,905,915.21 $462,862.31
3137B3NB0 FHMS K030 X1 FLT 0.30922 04/25/2023 US 43,893,070.8 $334,711.00
3137B4GZ3 FHMS K032 X1 FLT 0.21808 05/25/2023 US 28,180,160.45 $131,807.06
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 1,219,816.07 $1,244,100.53
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 1,259,327.45 $1,300,812.09
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 649,689.91 $658,230.33
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 539,153.81 $589,658.98
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 794,734.45 $805,180.63
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 1,198,524.06 $1,244,694.20
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 287,064.47 $313,546.26
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 665,186.58 $673,922.60
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 1,387,910.43 $1,483,689.06
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,245,212.83 $2,210,874.63
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 687,474.46 $713,081.28
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 535,907.47 $551,765.85
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 544,863.29 $549,633.02
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 1,714,422.44 $1,688,196.97
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 729,876.1 $718,409.65
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 758,141.78 $762,924.71
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 919,694.84 $952,525.97
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 669,345.04 $688,776.23
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 2,201,566.71 $2,306,402.04
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 1,269,971.6 $1,330,381.82
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 1,345,701.69 $1,409,645.02
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 16,064.22 $16,460.56
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 19,404.54 $19,890.89
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 96,874.09 $98,499.38
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 116,097.98 $118,022.54
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 990,000 $1,039,523.43
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 270,716.83 $296,157.27
31410KJY1 FEDERAL NATL MTG ASSN 889579 6.00000 05/01/2038 US 232,659.34 $252,636.04
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 102,738.71 $110,327.51
31415VXY6 FEDERAL NATL MTG ASSN 990895 5.50000 10/01/2023 US 19,169.47 $19,740.42
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 14,112.01 $15,437.96
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 6,266.04 $6,342.62
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 91,728.88 $93,353.78
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 472,287.15 $491,100.39
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 514,636.91 $491,253.87
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 727,048.08 $754,839.61
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 433,614.47 $450,200.90
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 1,020,562.61 $974,191.70
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,904,315.7 $1,945,049.09
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 22,407.42 $24,561.18
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 582,097.37 $636,797.52
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 361,811.02 $389,072.96
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 15,318 $15,874.01
31428X106 FEDEX CORPORATION US FDX 12,310 $2,818,990.00
32054K103 FIRST INDUSTRIAL REALTY TR US FR 3,070 $98,424.20
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 170,000 $155,550.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 160,000 $154,800.00
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 1,535,000 $1,526,305.30
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 427,000 $418,418.32
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 44,986.31 $45,241.34
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,670,000 $1,327,650.00
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 2,180,000 $2,162,723.89
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 130,000 $113,750.00
374297109 GETTY REALTY CORP US GTY 3,835 $117,312.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 345,000 $335,081.25
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,475,457.37 $1,376,406.23
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 185,000 $175,750.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 715 $49,778.30
4012250 AIRBUS SE FR AIR FP 955 $102,418.72
40414L109 HCP INC US HCP 7,245 $211,988.70
4057808 L'OREAL FR OR FP 630 $148,658.50
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 450 $128,807.25
4162791 THALES SA FR HO FP 155 $19,023.32
4163437 CAP GEMINI FR CAP FP 240 $28,022.88
421946104 HEALTHCARE REALTY TRUST INC US HR 5,205 $161,355.00
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 8,290 $233,114.80
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 350,000 $365,750.00
44107P104 HOST MARRIOTT CORP US HST 10,635 $202,065.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 310,000 $289,075.00
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 198,000 $189,090.00
45337C102 INCYTE CORP US INCY 85,960 $5,522,930.00
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 10,700 $108,070.00
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 120,000 $115,500.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 34,710 $2,836,501.20
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 2,528,000 $2,554,844.93
46187BAA1 IHSFR 2017-SFR2 A 3.15250 12/17/2036 US 515,350.46 $514,709.88
46187BAB9 IHSFR 2017-SFR2 B 3.45250 12/17/2036 US 390,000 $392,546.47
46187W107 INVITATION HOMES INC US INVH 9,683 $207,797.18
464286624 ISHARES MSCI THAILAND ETF TH 4,480 $386,310.40
464287739 ISHARES DJ US REAL ESTATE US 95 $7,769.10
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 3,480,000 $3,522,142.07
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 387,567.76 $369,506.33
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 338,343.08 $326,804.90
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 557,373.35 $548,838.85
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,700,000 $1,694,897.98
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 1,202,751.63 $1,177,444.53
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 1,445,734.54 $1,414,447.40
4682329 PERNOD-RICARD SA FR RI FP 615 $98,316.77
4712798 RENAULT SA FR RNO FP 380 $26,748.22
4741844 MERCK KGAA DE MRK GR 53,705 $5,945,062.94
476405105 JERNIGAN CAPITAL INC US JCAP 5,975 $127,745.50
478160104 JOHNSON & JOHNSON US JNJ 56,795 $8,343,185.50
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 340,000 $251,600.00
4821100 SOLVAY SA BE SOLB BB 1,925 $208,537.94
4834108 SCHNEIDER ELECTRIC SE FR SU FP 955 $69,610.84
4834777 VIVENDI FR VIV FP 1,595 $39,783.06
49446R109 KIMCO REALTY CORP US KIM 5,275 $86,246.25
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,700,000 $2,997,144.05
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 240,000 $216,900.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 130,000 $123,175.00
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 210,000 $214,725.00
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 9,859.94 $9,839.61
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 150,000 $150,000.00
5107401 BEIERSDORF AG DE BEI GR 1,550 $166,391.30
5176177 ORANGE FR ORA FP 3,095 $53,203.85
5253973 HERMES INTERNATIONAL FR RMS FP 50 $27,070.84
5263574 FLSMIDTH & CO A/S DK FLS DC 390 $19,563.43
529043101 LEXINGTON REALTY TRUST US LXP 10,805 $94,867.90
531172104 LIBERTY PROPERTY TRUST US LPT 4,935 $223,506.15
5330047 DASSAULT SYSTEMES SA FR DSY FP 235 $28,255.44
53815P108 LIVERAMP HOLDINGS INC US RAMP 89,990 $4,256,527.00
5458314 AKZO NOBEL NL AKZA NA 2,965 $249,154.57
5474008 BANKINTER S.A. ES BKT SM 16,450 $137,733.77
550021109 LULULEMON - ADR CA LULU 41,839 $5,545,759.45
5505072 KERING FR KER FP 135 $58,763.41
554382101 THE MACERICH CO US MAC 825 $41,489.25
5545670 JUNGHEINRICH AG DE JUN3 GR 2,940 $98,265.07
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 980,000 $1,036,792.29
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 267,000 $252,315.00
5596991 UCB SA BE UCB BB 1,135 $95,651.71
5669354 REPSOL SA ES REP SM 13,875 $239,016.67
5671519 WOLTERS KLUWER NL WKL NA 1,170 $70,733.86
5671735 SANOFI-AVENTIS FR SAN FP 1,790 $162,282.72
5701513 ELISA OYJ FI ELISA FH 1,600 $64,240.57
5713422 METSO OYJ FI METSO FH 3,755 $107,470.59
5727973 SIEMENS AG-REG DE SIE GR 1,730 $201,330.02
57636Q104 MASTERCARD INC-CLASS A US MA 40,260 $8,095,078.20
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 140,000 $139,440.00
5852842 ACCOR SA FR AC FP 1,184 $52,593.58
58933Y105 MERCK & CO INC US MRK 48,020 $3,809,906.80
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 130,000 $114,400.00
594918104 MICROSOFT CORP US MSFT 76,170 $8,446,491.30
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,940 $200,906.40
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 20 $136,463.83
5966516 SOCIETE GENERALE FR GLE FP 1,295 $47,558.72
5980613 GIVAUDAN - REG CH GIVN SW 30 $74,068.31
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 124,275 $5,589,889.50
6136749 OBIC CO LTD JP 4684 JP 1,700 $147,415.16
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 3,070,000 $3,050,093.60
6175076 KT&G CORP KR 033780 KS 755 $70,054.35
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 2,300 $157,586.58
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 295,000 $295,737.50
6264189 NCSOFT CORP KR 036570 KS 230 $105,485.35
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 190,000 $169,100.00
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 178,000 $152,368.36
6307200 EISAI CO LTD JP 4523 JP 1,100 $101,293.89
6332439 FAST RETAILING CO LTD JP 9983 JP 100 $52,131.71
6356934 FANUC LTD JP 6954 JP 570 $98,035.36
637417106 NATIONAL RETAIL PROPERTIES US NNN 2,095 $104,875.70
637870106 NATIONAL STORAGE AFFILIATES US NSA 1,790 $50,066.30
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 140,000 $140,700.00
64110W102 NETEASE.COM INC- ADR CN NTES 258 $58,584.06
6441506 HOYA CORP JP 7741 JP 1,600 $97,791.02
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 950 $112,225.13
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 1,230 $120,005.43
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 2,550 $145,758.00
6482903 KANAMOTO CO LTD JP 9678 JP 3,000 $88,483.03
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 402,407.72 $402,084.18
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 607,045.12 $605,428.62
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 613,985.43 $611,257.49
6490809 KIKKOMAN CORP JP 2801 JP 2,500 $146,345.59
6490995 KEYENCE CORP JP 6861 JP 718 $391,127.14
6518808 LION CORP JP 4912 JP 5,300 $104,716.67
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 55,000 $109,288.59
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 2,700 $146,726.17
6642387 YAMAHA CORP JP 7951 JP 3,300 $142,283.32
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 295,000 $292,050.00
6683449 KANGWON LAND INC KR 035250 KS 2,565 $73,850.04
66987V109 NOVARTIS AG- REG CH NVS 113,195 $10,360,738.35
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 115,000 $116,612.29
6742340 SHANDONG WEIGAO CN 1066 HK 96,000 $90,506.92
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 6,800 $122,688.65
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 8,205 $54,490.65
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 4,300 $73,870.82
6791591 SECOM CO LTD JP 9735 JP 800 $67,749.21
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 777,000 $770,433.32
6865504 SUZUKI MOTOR CORP JP 7269 JP 3,000 $149,678.95
6885074 TERUMO CORP JP 4543 JP 2,600 $153,315.59
6895200 TOHO CO LTD JP 9602 JP 2,100 $73,172.50
6911485 UNICHARM CORP JP 8113 JP 3,300 $103,343.27
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 76,000 $146,907.43
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 235,000 $233,237.50
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 6,030 $137,439.42
6985112 YAKULT HONSHA CO LTD JP 2267 JP 1,900 $143,696.33
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 3,500 $64,562.49
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 251,000 $244,097.50
7021963 DEUTSCHE BOERSE AG DE DB1 GR 640 $81,979.27
7062713 SODEXO FR SW FP 650 $67,268.70
7088429 AXA SA FR CS FP 3,450 $84,015.51
7103065 NOVARTIS AG-REG CH NOVN SW 3,070 $280,295.37
7103526 PEUGEOT SA FR UG FP 830 $18,261.73
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 905 $234,923.68
7110902 TECAN GROUP AG-REG CH TECN SW 235 $48,402.15
7123870 NESTLE SA-REGISTERED CH NESN SW 72,261 $6,164,802.57
7133608 EQUINOR ASA NO EQNR NO 6,030 $141,252.02
713448108 PEPSICO INC US PEP 46,765 $5,702,524.10
7145056 ENI SPA IT ENI IM 8,225 $132,713.76
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 200,000 $184,750.00
71943U104 PHYSICIANS REALTY TRUST US DOC 15,960 $284,247.60
7212477 ESSILORLUXOTTICA FR EL FP 390 $49,310.14
7262610 CREDIT AGRICOLE SA FR ACA FP 2,255 $28,025.00
729640102 PLYMOUTH INDUSTRIAL REIT INC US 4,255 $53,655.55
7309681 BNP PARIBAS FR BNP FP 1,965 $98,836.39
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 180,000 $179,775.00
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 775 $28,804.51
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 3,250,000 $3,084,918.79
74340W103 PROLOGIS US PLD 7,480 $503,703.20
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 1,990,000 $2,038,516.20
74460D109 PUBLIC STORAGE INC US PSA 1,570 $334,818.20
74736K101 QORVO INC US QRVO 144,100 $9,483,221.00
756109104 REALTY INCOME CORP US O 985 $63,128.65
75886F107 REGENERON PHARMACEUTICALS INC US REGN 8,010 $2,928,856.50
76131D103 RESTAURANT BRANDS INTERN CA QSR 1,450 $84,578.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 195,000 $196,950.00
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 4,445 $275,723.35
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 961 $79,119.13
78410G104 SBA COMMUNICATIONS CORP US SBAC 19,170 $3,274,427.70
78442PGC4 SLM CORP 5.12500 04/05/2022 US 220,000 $215,600.00
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 1,883,294.41 $1,878,637.02
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,920,000 $3,073,773.33
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 2,190,000 $2,120,234.99
806857108 SCHLUMBERGER LTD NL SLB 63,978 $2,885,407.80
808513105 CHARLES SCHWAB CORP/THE US SCHW 60,455 $2,708,384.00
81141R100 SEA LTD - ADR SG SE 4,996 $66,646.64
81211K100 SEALED AIR CORP US SEE 106,560 $3,892,636.80
812578102 SEATTLE GENETICS INC US SGEN 58,925 $3,687,526.50
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 469,474.31 $441,180.50
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 478,469.66 $451,443.78
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 424,613.48 $371,713.43
81762P102 SERVICENOW INC US NOW 16,530 $3,062,513.10
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 166,000 $154,380.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 170,000 $159,375.00
828806109 SIMON PROPERTY GROUP INC US SPG 3,515 $652,700.35
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 315,779.87 $312,604.86
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 300,000 $289,358.85
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 295,458.55 $293,218.47
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 662,659.24 $658,989.76
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 721,629.77 $713,923.63
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.87800 12/01/2023 US 144,144.33 $144,000.19
84265V105 SOUTHERN COPPER CORPORATION US SCCO 4,050 $135,594.00
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 2,020,000 $2,054,473.30
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 194,000 $185,997.50
85254J102 STAG INDUSTRIAL INC US STAG 4,875 $130,601.25
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 996,688.76 $996,813.65
862121100 STORE CAPITAL CORP US STOR 2,005 $60,069.80
866674104 SUN COMMUNITIES US SUI 2,500 $260,250.00
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 7,930 $121,011.80
874080104 TAL EDUCATION GROUP - ADR CN TAL 2,065 $57,964.55
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 216,182.82 $215,319.99
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 205,000 $190,137.50
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 120,000 $107,436.00
88650V208 TIER REIT INC US TIER 8,920 $209,976.80
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,060,141.23 $1,029,333.74
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 873,245.87 $838,912.99
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 998,934.39 $950,242.13
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 276,000 $264,960.00
902653104 UDR INC US UDR 6,030 $256,998.60
903002103 UMH PROPERTIES INC US UMH 4,475 $58,309.25
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 120,000 $115,125.60
904767704 UNILEVER PLC - ADR GB UL 107,344 $5,827,705.76
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 4,599,000 $6,014,629.69
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 8,779,000 $10,734,385.12
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 3,159,608.48 $2,832,169.37
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 12,453,000 $10,672,123.74
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,305,000 $8,764,873.78
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 13,399,000 $12,863,563.36
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 12,135,000 $11,883,767.64
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 5,890,000 $5,868,372.63
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 16,693,335.62 $16,368,380.65
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 6,050,000 $5,740,882.81
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 6,599,000 $6,017,720.88
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 3,031,925.9 $2,920,175.32
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 6,465,000 $6,174,327.52
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 11,215,000 $10,689,296.88
91704F104 URBAN EDGE PROPERTIES US UE 10,675 $212,859.50
92276F100 VENTAS INC US VTR 2,180 $138,408.20
92339V100 VEREIT INC US VER 19,775 $151,278.75
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 2,950,000 $3,077,357.78
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 14,320 $2,588,912.80
92826C839 VISA INC - CLASS A SHARES US V 45,930 $6,508,740.30
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 350,000 $355,300.23
929042109 VORNADO REALTY TRUST US VNO 3,140 $225,954.40
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 165,000 $149,325.00
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 235,000 $238,525.00
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 250,000 $231,875.00
948741103 WEINGARTEN REALTY INVESTORS US WRI 5,170 $149,206.20
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 600,000 $609,127.80
95040Q104 WELLTOWER INC. US WELL 2,335 $168,890.55
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 215,000 $213,860.50
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 185,000 $165,797.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,720,000 $1,589,981.64
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97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 465,819.79 $454,841.40
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 56,950 $1,498,924.00
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B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 10,600 $105,424.36
B00FV12 ISHARES FTSE 250 IE 16,460 $373,201.13
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B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 11,100 $103,393.33
B058TZ6 SAFRAN SA FR SAF FP 550 $68,843.07
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 4,100 $62,801.46
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 330 $68,891.64
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B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 3,045 $151,972.42
B1XH026 VINCI SA FR DG FP 2,830 $246,946.45
B1Y9TB3 DANONE FR BN FP 4,078 $304,487.32
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 24,000 $109,978.12
B1YXBJ7 AIR LIQUIDE FR AI FP 710 $85,927.53
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 3,000 $111,796.60
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 1,140 $94,894.89
B283W97 CAIXABANK S.A ES CABK SM 33,720 $139,292.30
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 30,600 $139,516.31
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 16,475 $31,371.50
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 299,000 $225,164.23
B3NB1P2 SUNCOR ENERGY INC CA SU CN 4,365 $140,741.81
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 3,400 $40,453.58
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,112,000 $145,403.77
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 358,000 $274,344.97
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 600 $25,543.83
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,057,000 $231,110.77
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 28,000 $22,104.23
B4R2R50 JULIUS BAER CH BAER SW 3,600 $145,205.69
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 4,200 $46,398.76
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 174,000 $54,991.96
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 657,000 $479,999.34
B4YVF56 BRENNTAG AG DE BNR GR 992 $46,012.74
B607XS1 VERMILION ENERGY INC CA VET CN 5,415 $134,738.19
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,313,000 $356,593.07
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 20,780 $215,698.19
B63QM77 NEXON CO LTD JP 3659 JP 15,200 $180,718.77
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 972,000 $42,086.29
B8FMRX8 COLOPLAST-B DK COLOB DC 1,420 $135,574.72
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 4,900 $35,885.18
BB22L96 KION GROUP AG DE KGX GR 2,545 $144,020.82
BBG00MBFLVG6 QRVO US 12/21/18 C67.5 US -283 -$45,280.00
BBG00MCR9B13 BABA US 12/07/18 C165 CN -84 -$18,480.00
BBG00MD5C001 NOW US 12/07/18 C205 US -68 -$680.00
BBG00MHMRQ16 GOOG US 12/28/18 C1110 US -16 -$31,520.00
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 3,815 $98,313.81
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 2,800 $31,142.49
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 166,000 $72,587.17
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 196,000 $191,100.00
BD9Y9B7 BASIC-FIT NV NL BFIT NA 3,345 $100,434.24
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 160,000 $65,894.36
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 454,000 $577,870.88
BDZV116 EPIROC AB-A SE EPIA SS 13,515 $110,733.20
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 7,400 $32,340.32
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 400,000 $366,000.00
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 1,370 $235,501.47
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 7,100 $51,776.57
BG7ZWY7 AMBEV SA BR ABEV3 BZ 23,000 $100,636.15
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 61,450 $94,612.31
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 219,000 $167,170.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 146,439 $5,854,432.77
BNGN9Z1 FINECOBANK SPA IT FBK IM 9,615 $103,376.41
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 118,060 $3,628,578.93
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 5,600 $154,509.09
BSQXJ01 THULE GROUP AB/THE SE THULE SS 7,195 $134,772.63
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 54,175 $134,201.49
BYQ32R1 NEMAK SAB DE CV MX 133,500 $95,695.63
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 252,000 $106,139.96
BYXS699 QIAGEN N.V. NL QIA GR 3,469 $122,762.54
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 87,894 $6,752,935.69
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 4,264 $19,827.16
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,116 $69,551.70
BZ3C3Q4 BANKIA SA ES BKIA SM 44,848 $148,448.45
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 8,160 $68,260.07
G02602103 AMDOCS LTD GG DOX 4,835 $313,839.85
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,110 $83,724.80
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 2,025 $98,293.50
G27358103 DESPEGAR.COM CORP AR DESP 2,460 $36,752.40
G3157S106 ENSCO INTERNATIONAL INC US ESV 226,375 $1,283,546.25
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 295,000 $305,325.00
G5960L103 MEDTRONIC INC IE MDT 82,815 $8,076,946.95
G84720104 STERIS PLC GB STE 865 $103,004.20
G97822103 PERRIGO CO PLC IE PRGO 3,320 $206,769.60
H8817H100 TRANSOCEAN LTD US RIG 145,235 $1,347,780.80
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 1,250 $139,762.50
N22717107 CORE LABORATORIES N.V. NL CLB 1,110 $92,252.10
N47279109 INTERXION HOLDING NV NL INXN 76,075 $4,737,190.25
N72482123 QIAGEN N.V. ADR NL QGEN 2,432 $86,190.08
USD US DOLLAR US 1,214,145 $1,214,145.00

Investments will change over time.

Distributions

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

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

$16.84

Daily $ Change

$0.01

Daily % Change

0.06%

as of 12/11/2018

Ticker

MNBAX

CUSIP

563821768

Inception Date

10/12/1993

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
Fact Sheet
Applications & Forms
XBRL-3/20/18

Investment Objective

To provide long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of stocks, bonds, alternatives, and cash that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

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 want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

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 11/30/2018

YTD

-1.06%

1 Year

0.04%

3 Year

4.85%

5 Year

3.67%

10 Year

8.15%

Inception
(10/12/1993)

7.86%

US Stock Market Cycle (04/01/2000 - 11/30/2018)

6.27%

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 1.08%*

Includes a shareholder servicing fee of 0.25%.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 10.77%
TREASURY BONDS 6.58%
GOVERNMENT AGENCY 6.00%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.98%
NOVARTIS AG- REG 1.88%
QORVO INC 1.72%
BOOKING HOLDINGS INC 1.58%
MICROSOFT CORP 1.54%
JOHNSON & JOHNSON 1.52%
MASTERCARD INC-CLASS A 1.47%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2018

Bonds
49.95%
Stocks
49.83%
Cash
0.22%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities
18.42%
Small Capitalization
0.76%
Mid Capitalization
4.32%
Large Capitalization
26.33%
Long Term Fixed Income
16.83%
Intermediate Term Fixed Income
24.17%
Short Term Fixed Income
8.95%
Cash
0.22%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 110,000 $110,825.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 2,280,000 $2,197,712.36
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 2,179,000 $2,152,862.61
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 506,000 $516,120.00
004239109 ACADIA REALTY TRUST US AKR 2,080 $59,633.60
0045614 ANTOFAGASTA PLC GB ANTO LN 24,905 $255,571.70
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,260,000 $2,199,880.72
008492100 AGREE REALTY CORP US ADC 1,240 $73,866.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 140,000 $143,125.07
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 455 $56,647.50
01609W102 ALIBABA GROUP - ADR CN BABA 20,705 $3,330,606.30
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 175,000 $175,000.00
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 160,000 $159,550.40
02079K107 ALPHABET INC-CL C US GOOG 4,140 $4,530,940.20
02079K305 ALPHABET INC-CL A US GOOGL 2,410 $2,674,256.50
023135106 AMAZON.COM INC US AMZN 1,310 $2,214,122.70
02319V103 AMBEV SA-ADR BR ABEV 651,923 $2,783,711.21
0237400 DIAGEO PLC GB DGE LN 180,370 $6,513,750.96
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 140,000 $140,875.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,545 $67,717.35
0263494 BAE SYSTEMS PLC GB BA/ LN 22,055 $138,644.81
02665T306 AMERICAN HOMES 4 RENT- A US AMH 11,180 $232,879.40
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 2,190,000 $2,067,422.87
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 175,000 $169,312.50
03027X100 AMERICAN TOWER REIT INC US AMT 20,005 $3,290,622.45
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 82,046.69 $82,521.51
03064D108 AMERICOLD REALTY TRUST US COLD 2,270 $60,836.00
03748R101 APARTMENT INVT & MGMT CO -A US AIV 4,570 $215,201.30
03784Y200 APPLE HOSPITALITY REIT INC US APLE 3,415 $54,196.05
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 200,000 $186,250.00
0405207 HALMA PLC GB HLMA LN 6,520 $114,445.42
0490656 KERRY GROUP PLC-A IE KYGA LN 2,015 $208,272.86
053484101 AVALONBAY COMMUNITIES INC US AVB 2,860 $545,030.20
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 2,411,000 $2,304,689.37
058498106 BALL CORP US BLL 156,260 $7,673,928.60
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,190,000 $3,094,002.95
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 18,850 $4,113,824.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 29,290 $2,812,718.70
0922320 SMITH & NEPHEW PLC GB SN/ LN 7,685 $140,254.32
09247X101 BLACKROCK INC US BLK 3,365 $1,440,253.65
0946580 WEIR GROUP PLC/THE GB WEIR LN 13,170 $248,721.03
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 2,980,000 $3,034,524.52
09857L108 BOOKING HOLDINGS INC US BKNG 4,600 $8,702,648.00
101121101 BOSTON PROPERTIES INC US BXP 2,870 $376,544.00
105368203 BRANDYWINE REALTY TRUST US BDN 15,030 $214,478.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 56,122 $3,000,282.12
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 2,355 $82,118.85
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 175,000 $169,750.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 25,015 $2,692,114.30
12572Q105 CME GROUP INC US CME 14,620 $2,778,969.60
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 2,410,000 $2,401,058.90
126307AU1 CSC HOLDINGS LLC 5.50000 05/15/2026 US 200,000 $193,687.50
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 605,667.88 $560,734.65
13321L108 CAMECO CORP CA CCJ 8,196 $97,368.48
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 75,436.32 $75,059.14
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 1,279,299.77 $1,275,295.31
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 340,000 $306,425.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 4,864,256.41 $4,807,105.29
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 1,284,408.49 $1,268,387.55
165240102 CHESAPEAKE LODGING TRUST US CHSP 2,840 $83,978.80
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 2,230,000 $3,046,661.86
191216100 COCA COLA CO/THE US KO 109,870 $5,537,448.00
19626G108 COLONY CAPITAL INC US CLNY 12,890 $79,402.40
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 1,990 $104,438.87
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 5,448 $171,829.92
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 5,150 $129,423.47
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 825 $70,885.49
21871N101 CORECIVIC INC US CXW 6,965 $152,881.75
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 350,000 $369,488.41
222795106 COUSINS PROPERTIES INC US CUZ 26,165 $221,094.25
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 155,000 $144,150.00
2242059 FOMENTO ECONOMICO EXICA-UBD MX 10,500 $90,984.95
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 1,224,000 $1,218,145.73
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 170,000 $163,625.00
22822V101 CROWN CASTLE INTL CORP US CCI 1,565 $179,818.50
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 558,024.78 $510,170.81
229663109 CUBESMART US CUBE 1,645 $51,225.30
2306814 EL PUERTO DE LIVERPOOL -C1 MX 20,475 $121,982.36
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 4,200 $48,473.24
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 110,000 $111,100.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 15,080 $138,468.37
23918K108 DAVITA INC. US DVA 44,965 $2,970,387.90
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 195,000 $182,812.50
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 26,320 $50,315.60
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 26,600 $62,077.01
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 16,300 $52,015.00
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 6,100 $31,091.54
25271C102 DIAMOND OFFSHORE DRILLING US DO 86,640 $1,091,664.00
253868103 DIGITAL REALTY TRUST INC US DLR 3,175 $365,252.00
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,230,000 $2,056,173.26
2583952 METRO INC CA MRU CN 2,050 $70,665.71
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 245,000 $240,712.50
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 272,000 $269,620.00
269246401 ETRADE FINANCIAL CORP US ETFC 28,430 $1,486,604.70
2715777 QUEBECOR INC -CL B CA QBR/B CN 86,550 $1,867,601.32
277276101 EASTGROUP PROPERTIES US EGP 540 $54,010.80
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 79,195 $1,490,736.42
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 9,100 $47,065.38
285512109 ELECTRONIC ARTS US EA 40,300 $3,388,021.00
2866857 LUNDIN MINING CORP CA LUN CN 33,600 $146,422.31
29444U700 EQUINIX INC US EQIX 11,125 $4,286,240.00
2945422 WEG SA BR WEGE3 BZ 6,100 $28,110.16
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,415 $140,834.95
29476L107 EQUITY RESIDENTIAL US EQR 5,660 $403,275.00
297178105 ESSEX PROPERTY TRUST INC US ESS 950 $249,384.50
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,625,000 $4,553,363.38
30225T102 EXTRA SPACE STORAGE INC US EXR 1,360 $130,532.80
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 153,480.39 $152,701.77
30261UAJ3 FREMF 2013-K713 B 3.26265 04/25/2046 US 1,350,000 $1,343,450.75
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 230,000 $225,400.00
30287EAE0 FREMF 2014-K41 B FLT 3.96255 11/25/2047 US 1,315,000 $1,299,056.02
30291EAE4 FREMF 2013-K712 B FLT 3.47306 05/25/2045 US 767,000 $765,301.40
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 77,535,827.08 $259,946.61
30291XAE2 FREMF 2014-K715 B FLT 4.11882 02/25/2046 US 1,279,000 $1,289,973.18
30292HAU0 FREMF 2014- K503 B 3.13900 10/25/2047 US 1,325,000 $1,320,774.58
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 124,898.8 $137,095.52
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 498,475.7 $535,470.60
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 553,839.72 $594,159.17
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 189,329.18 $204,185.11
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 155,678.74 $170,932.00
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 8,951.28 $9,193.10
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 21,283.73 $21,772.86
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 14,656.24 $15,041.94
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 11,610.01 $11,960.86
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 20,515.38 $21,128.96
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 237,697.92 $255,560.14
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 439,911.3 $456,743.01
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 406,972.01 $423,566.33
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 474,602.01 $492,728.40
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,389,838.82 $1,445,714.15
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 674,284.44 $680,149.09
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 625,509.89 $630,317.31
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 17,713.23 $17,824.09
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 979,866.17 $974,684.25
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 470 $62,082.30
3137A2B34 FHMS K009 X1 FLT 1.44443 08/25/2020 US 7,910,579.52 $135,937.77
3137ADTK3 FHMS K014 X1 FLT 1.32338 04/25/2021 US 9,020,247.37 $213,442.51
3137AJMG6 FMHS K016 X1 FLT 1.64995 10/25/2021 US 3,910,252.44 $140,185.29
3137AME78 FHMS K017 X1 FLT 1.45146 12/25/2021 US 16,119,013.64 $523,788.96
3137AUPF0 FHMS K021 x1 FLT 1.57841 06/25/2022 US 10,905,915.21 $462,862.31
3137B3NB0 FHMS K030 X1 FLT 0.30922 04/25/2023 US 43,893,070.8 $334,711.00
3137B4GZ3 FHMS K032 X1 FLT 0.21808 05/25/2023 US 28,180,160.45 $131,807.06
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 1,219,816.07 $1,244,100.53
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 1,259,327.45 $1,300,812.09
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 649,689.91 $658,230.33
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 539,153.81 $589,658.98
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 794,734.45 $805,180.63
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 1,198,524.06 $1,244,694.20
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 287,064.47 $313,546.26
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 665,186.58 $673,922.60
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 1,387,910.43 $1,483,689.06
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,245,212.83 $2,210,874.63
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 687,474.46 $713,081.28
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 535,907.47 $551,765.85
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 544,863.29 $549,633.02
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 1,714,422.44 $1,688,196.97
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 729,876.1 $718,409.65
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 758,141.78 $762,924.71
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 919,694.84 $952,525.97
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 669,345.04 $688,776.23
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 2,201,566.71 $2,306,402.04
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 1,269,971.6 $1,330,381.82
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 1,345,701.69 $1,409,645.02
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 16,064.22 $16,460.56
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 19,404.54 $19,890.89
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 96,874.09 $98,499.38
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 116,097.98 $118,022.54
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 990,000 $1,039,523.43
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 270,716.83 $296,157.27
31410KJY1 FEDERAL NATL MTG ASSN 889579 6.00000 05/01/2038 US 232,659.34 $252,636.04
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 102,738.71 $110,327.51
31415VXY6 FEDERAL NATL MTG ASSN 990895 5.50000 10/01/2023 US 19,169.47 $19,740.42
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 14,112.01 $15,437.96
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 6,266.04 $6,342.62
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 91,728.88 $93,353.78
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 472,287.15 $491,100.39
31418B6G6 FEDERAL NATL MTG ASSN FN MA2670 3.00000 07/01/2046 US 514,636.91 $491,253.87
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 727,048.08 $754,839.61
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 433,614.47 $450,200.90
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 1,020,562.61 $974,191.70
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,904,315.7 $1,945,049.09
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 22,407.42 $24,561.18
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 582,097.37 $636,797.52
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 361,811.02 $389,072.96
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 15,318 $15,874.01
31428X106 FEDEX CORPORATION US FDX 12,310 $2,818,990.00
32054K103 FIRST INDUSTRIAL REALTY TR US FR 3,070 $98,424.20
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 170,000 $155,550.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 160,000 $154,800.00
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 1,535,000 $1,526,305.30
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 427,000 $418,418.32
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 44,986.31 $45,241.34
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,670,000 $1,327,650.00
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 2,180,000 $2,162,723.89
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 130,000 $113,750.00
374297109 GETTY REALTY CORP US GTY 3,835 $117,312.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 345,000 $335,081.25
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,475,457.37 $1,376,406.23
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 185,000 $175,750.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 715 $49,778.30
4012250 AIRBUS SE FR AIR FP 955 $102,418.72
40414L109 HCP INC US HCP 7,245 $211,988.70
4057808 L'OREAL FR OR FP 630 $148,658.50
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 450 $128,807.25
4162791 THALES SA FR HO FP 155 $19,023.32
4163437 CAP GEMINI FR CAP FP 240 $28,022.88
421946104 HEALTHCARE REALTY TRUST INC US HR 5,205 $161,355.00
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 8,290 $233,114.80
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 350,000 $365,750.00
44107P104 HOST MARRIOTT CORP US HST 10,635 $202,065.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 310,000 $289,075.00
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 198,000 $189,090.00
45337C102 INCYTE CORP US INCY 85,960 $5,522,930.00
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 10,700 $108,070.00
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 120,000 $115,500.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 34,710 $2,836,501.20
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 2,528,000 $2,554,844.93
46187BAA1 IHSFR 2017-SFR2 A 3.15250 12/17/2036 US 515,350.46 $514,709.88
46187BAB9 IHSFR 2017-SFR2 B 3.45250 12/17/2036 US 390,000 $392,546.47
46187W107 INVITATION HOMES INC US INVH 9,683 $207,797.18
464286624 ISHARES MSCI THAILAND ETF TH 4,480 $386,310.40
464287739 ISHARES DJ US REAL ESTATE US 95 $7,769.10
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 3,480,000 $3,522,142.07
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 387,567.76 $369,506.33
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 338,343.08 $326,804.90
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 557,373.35 $548,838.85
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,700,000 $1,694,897.98
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 1,202,751.63 $1,177,444.53
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 1,445,734.54 $1,414,447.40
4682329 PERNOD-RICARD SA FR RI FP 615 $98,316.77
4712798 RENAULT SA FR RNO FP 380 $26,748.22
4741844 MERCK KGAA DE MRK GR 53,705 $5,945,062.94
476405105 JERNIGAN CAPITAL INC US JCAP 5,975 $127,745.50
478160104 JOHNSON & JOHNSON US JNJ 56,795 $8,343,185.50
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 340,000 $251,600.00
4821100 SOLVAY SA BE SOLB BB 1,925 $208,537.94
4834108 SCHNEIDER ELECTRIC SE FR SU FP 955 $69,610.84
4834777 VIVENDI FR VIV FP 1,595 $39,783.06
49446R109 KIMCO REALTY CORP US KIM 5,275 $86,246.25
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,700,000 $2,997,144.05
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 240,000 $216,900.00
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 130,000 $123,175.00
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 210,000 $214,725.00
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 9,859.94 $9,839.61
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 150,000 $150,000.00
5107401 BEIERSDORF AG DE BEI GR 1,550 $166,391.30
5176177 ORANGE FR ORA FP 3,095 $53,203.85
5253973 HERMES INTERNATIONAL FR RMS FP 50 $27,070.84
5263574 FLSMIDTH & CO A/S DK FLS DC 390 $19,563.43
529043101 LEXINGTON REALTY TRUST US LXP 10,805 $94,867.90
531172104 LIBERTY PROPERTY TRUST US LPT 4,935 $223,506.15
5330047 DASSAULT SYSTEMES SA FR DSY FP 235 $28,255.44
53815P108 LIVERAMP HOLDINGS INC US RAMP 89,990 $4,256,527.00
5458314 AKZO NOBEL NL AKZA NA 2,965 $249,154.57
5474008 BANKINTER S.A. ES BKT SM 16,450 $137,733.77
550021109 LULULEMON - ADR CA LULU 41,839 $5,545,759.45
5505072 KERING FR KER FP 135 $58,763.41
554382101 THE MACERICH CO US MAC 825 $41,489.25
5545670 JUNGHEINRICH AG DE JUN3 GR 2,940 $98,265.07
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 980,000 $1,036,792.29
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 267,000 $252,315.00
5596991 UCB SA BE UCB BB 1,135 $95,651.71
5669354 REPSOL SA ES REP SM 13,875 $239,016.67
5671519 WOLTERS KLUWER NL WKL NA 1,170 $70,733.86
5671735 SANOFI-AVENTIS FR SAN FP 1,790 $162,282.72
5701513 ELISA OYJ FI ELISA FH 1,600 $64,240.57
5713422 METSO OYJ FI METSO FH 3,755 $107,470.59
5727973 SIEMENS AG-REG DE SIE GR 1,730 $201,330.02
57636Q104 MASTERCARD INC-CLASS A US MA 40,260 $8,095,078.20
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 140,000 $139,440.00
5852842 ACCOR SA FR AC FP 1,184 $52,593.58
58933Y105 MERCK & CO INC US MRK 48,020 $3,809,906.80
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 130,000 $114,400.00
594918104 MICROSOFT CORP US MSFT 76,170 $8,446,491.30
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,940 $200,906.40
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 20 $136,463.83
5966516 SOCIETE GENERALE FR GLE FP 1,295 $47,558.72
5980613 GIVAUDAN - REG CH GIVN SW 30 $74,068.31
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 124,275 $5,589,889.50
6136749 OBIC CO LTD JP 4684 JP 1,700 $147,415.16
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 3,070,000 $3,050,093.60
6175076 KT&G CORP KR 033780 KS 755 $70,054.35
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 2,300 $157,586.58
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 295,000 $295,737.50
6264189 NCSOFT CORP KR 036570 KS 230 $105,485.35
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 190,000 $169,100.00
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 178,000 $152,368.36
6307200 EISAI CO LTD JP 4523 JP 1,100 $101,293.89
6332439 FAST RETAILING CO LTD JP 9983 JP 100 $52,131.71
6356934 FANUC LTD JP 6954 JP 570 $98,035.36
637417106 NATIONAL RETAIL PROPERTIES US NNN 2,095 $104,875.70
637870106 NATIONAL STORAGE AFFILIATES US NSA 1,790 $50,066.30
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 140,000 $140,700.00
64110W102 NETEASE.COM INC- ADR CN NTES 258 $58,584.06
6441506 HOYA CORP JP 7741 JP 1,600 $97,791.02
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 950 $112,225.13
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 1,230 $120,005.43
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 2,550 $145,758.00
6482903 KANAMOTO CO LTD JP 9678 JP 3,000 $88,483.03
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 402,407.72 $402,084.18
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 607,045.12 $605,428.62
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 613,985.43 $611,257.49
6490809 KIKKOMAN CORP JP 2801 JP 2,500 $146,345.59
6490995 KEYENCE CORP JP 6861 JP 718 $391,127.14
6518808 LION CORP JP 4912 JP 5,300 $104,716.67
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 55,000 $109,288.59
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 2,700 $146,726.17
6642387 YAMAHA CORP JP 7951 JP 3,300 $142,283.32
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 295,000 $292,050.00
6683449 KANGWON LAND INC KR 035250 KS 2,565 $73,850.04
66987V109 NOVARTIS AG- REG CH NVS 113,195 $10,360,738.35
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 115,000 $116,612.29
6742340 SHANDONG WEIGAO CN 1066 HK 96,000 $90,506.92
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 6,800 $122,688.65
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 8,205 $54,490.65
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 4,300 $73,870.82
6791591 SECOM CO LTD JP 9735 JP 800 $67,749.21
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 777,000 $770,433.32
6865504 SUZUKI MOTOR CORP JP 7269 JP 3,000 $149,678.95
6885074 TERUMO CORP JP 4543 JP 2,600 $153,315.59
6895200 TOHO CO LTD JP 9602 JP 2,100 $73,172.50
6911485 UNICHARM CORP JP 8113 JP 3,300 $103,343.27
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 76,000 $146,907.43
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 235,000 $233,237.50
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 6,030 $137,439.42
6985112 YAKULT HONSHA CO LTD JP 2267 JP 1,900 $143,696.33
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 3,500 $64,562.49
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 251,000 $244,097.50
7021963 DEUTSCHE BOERSE AG DE DB1 GR 640 $81,979.27
7062713 SODEXO FR SW FP 650 $67,268.70
7088429 AXA SA FR CS FP 3,450 $84,015.51
7103065 NOVARTIS AG-REG CH NOVN SW 3,070 $280,295.37
7103526 PEUGEOT SA FR UG FP 830 $18,261.73
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 905 $234,923.68
7110902 TECAN GROUP AG-REG CH TECN SW 235 $48,402.15
7123870 NESTLE SA-REGISTERED CH NESN SW 72,261 $6,164,802.57
7133608 EQUINOR ASA NO EQNR NO 6,030 $141,252.02
713448108 PEPSICO INC US PEP 46,765 $5,702,524.10
7145056 ENI SPA IT ENI IM 8,225 $132,713.76
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 200,000 $184,750.00
71943U104 PHYSICIANS REALTY TRUST US DOC 15,960 $284,247.60
7212477 ESSILORLUXOTTICA FR EL FP 390 $49,310.14
7262610 CREDIT AGRICOLE SA FR ACA FP 2,255 $28,025.00
729640102 PLYMOUTH INDUSTRIAL REIT INC US 4,255 $53,655.55
7309681 BNP PARIBAS FR BNP FP 1,965 $98,836.39
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 180,000 $179,775.00
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 775 $28,804.51
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 3,250,000 $3,084,918.79
74340W103 PROLOGIS US PLD 7,480 $503,703.20
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 1,990,000 $2,038,516.20
74460D109 PUBLIC STORAGE INC US PSA 1,570 $334,818.20
74736K101 QORVO INC US QRVO 144,100 $9,483,221.00
756109104 REALTY INCOME CORP US O 985 $63,128.65
75886F107 REGENERON PHARMACEUTICALS INC US REGN 8,010 $2,928,856.50
76131D103 RESTAURANT BRANDS INTERN CA QSR 1,450 $84,578.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 195,000 $196,950.00
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 4,445 $275,723.35
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 961 $79,119.13
78410G104 SBA COMMUNICATIONS CORP US SBAC 19,170 $3,274,427.70
78442PGC4 SLM CORP 5.12500 04/05/2022 US 220,000 $215,600.00
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 1,883,294.41 $1,878,637.02
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,920,000 $3,073,773.33
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 2,190,000 $2,120,234.99
806857108 SCHLUMBERGER LTD NL SLB 63,978 $2,885,407.80
808513105 CHARLES SCHWAB CORP/THE US SCHW 60,455 $2,708,384.00
81141R100 SEA LTD - ADR SG SE 4,996 $66,646.64
81211K100 SEALED AIR CORP US SEE 106,560 $3,892,636.80
812578102 SEATTLE GENETICS INC US SGEN 58,925 $3,687,526.50
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 469,474.31 $441,180.50
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 478,469.66 $451,443.78
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 424,613.48 $371,713.43
81762P102 SERVICENOW INC US NOW 16,530 $3,062,513.10
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 166,000 $154,380.00
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 170,000 $159,375.00
828806109 SIMON PROPERTY GROUP INC US SPG 3,515 $652,700.35
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 315,779.87 $312,604.86
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 300,000 $289,358.85
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 295,458.55 $293,218.47
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 662,659.24 $658,989.76
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 721,629.77 $713,923.63
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.87800 12/01/2023 US 144,144.33 $144,000.19
84265V105 SOUTHERN COPPER CORPORATION US SCCO 4,050 $135,594.00
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 2,020,000 $2,054,473.30
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 194,000 $185,997.50
85254J102 STAG INDUSTRIAL INC US STAG 4,875 $130,601.25
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 996,688.76 $996,813.65
862121100 STORE CAPITAL CORP US STOR 2,005 $60,069.80
866674104 SUN COMMUNITIES US SUI 2,500 $260,250.00
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 7,930 $121,011.80
874080104 TAL EDUCATION GROUP - ADR CN TAL 2,065 $57,964.55
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 216,182.82 $215,319.99
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 205,000 $190,137.50
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 120,000 $107,436.00
88650V208 TIER REIT INC US TIER 8,920 $209,976.80
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,060,141.23 $1,029,333.74
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 873,245.87 $838,912.99
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 998,934.39 $950,242.13
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 276,000 $264,960.00
902653104 UDR INC US UDR 6,030 $256,998.60
903002103 UMH PROPERTIES INC US UMH 4,475 $58,309.25
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 120,000 $115,125.60
904767704 UNILEVER PLC - ADR GB UL 107,344 $5,827,705.76
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 4,599,000 $6,014,629.69
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 8,779,000 $10,734,385.12
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 3,159,608.48 $2,832,169.37
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 12,453,000 $10,672,123.74
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 9,305,000 $8,764,873.78
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 13,399,000 $12,863,563.36
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 12,135,000 $11,883,767.64
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 5,890,000 $5,868,372.63
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 16,693,335.62 $16,368,380.65
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 6,050,000 $5,740,882.81
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 6,599,000 $6,017,720.88
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 3,031,925.9 $2,920,175.32
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 6,465,000 $6,174,327.52
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 11,215,000 $10,689,296.88
91704F104 URBAN EDGE PROPERTIES US UE 10,675 $212,859.50
92276F100 VENTAS INC US VTR 2,180 $138,408.20
92339V100 VEREIT INC US VER 19,775 $151,278.75
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 2,950,000 $3,077,357.78
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 14,320 $2,588,912.80
92826C839 VISA INC - CLASS A SHARES US V 45,930 $6,508,740.30
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 350,000 $355,300.23
929042109 VORNADO REALTY TRUST US VNO 3,140 $225,954.40
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 165,000 $149,325.00
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 235,000 $238,525.00
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 250,000 $231,875.00
948741103 WEINGARTEN REALTY INVESTORS US WRI 5,170 $149,206.20
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 600,000 $609,127.80
95040Q104 WELLTOWER INC. US WELL 2,335 $168,890.55
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 215,000 $213,860.50
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 185,000 $165,797.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,720,000 $1,589,981.64
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 395,044.08 $393,492.66
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 465,819.79 $454,841.40
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 56,950 $1,498,924.00
AP0787667 MPC CONTAINER SHIPS FLT 7.11638 09/22/2022 NL 200,000 $197,370.00
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 400,000 $382,000.00
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 10,600 $105,424.36
B00FV12 ISHARES FTSE 250 IE 16,460 $373,201.13
B02J639 ADMIRAL GROUP PLC GB ADM LN 2,600 $69,188.69
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 11,100 $103,393.33
B058TZ6 SAFRAN SA FR SAF FP 550 $68,843.07
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 4,100 $62,801.46
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 330 $68,891.64
B0C2CQ3 ENGIE FR ENGI FP 2,945 $41,512.05
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 4,040 $40,849.24
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 3,900 $164,104.84
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 1,570 $80,914.42
B15C557 TOTAL SA FR FP FP 4,150 $230,823.08
B19NLV4 EXPERIAN PLC GB EXPN LN 2,910 $70,990.34
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 14,860 $244,598.62
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 11,100 $49,698.11
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 3,045 $151,972.42
B1XH026 VINCI SA FR DG FP 2,830 $246,946.45
B1Y9TB3 DANONE FR BN FP 4,078 $304,487.32
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 24,000 $109,978.12
B1YXBJ7 AIR LIQUIDE FR AI FP 710 $85,927.53
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 3,000 $111,796.60
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 1,140 $94,894.89
B283W97 CAIXABANK S.A ES CABK SM 33,720 $139,292.30
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 30,600 $139,516.31
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 16,475 $31,371.50
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 299,000 $225,164.23
B3NB1P2 SUNCOR ENERGY INC CA SU CN 4,365 $140,741.81
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 3,400 $40,453.58
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,112,000 $145,403.77
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 358,000 $274,344.97
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 600 $25,543.83
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,057,000 $231,110.77
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 28,000 $22,104.23
B4R2R50 JULIUS BAER CH BAER SW 3,600 $145,205.69
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 4,200 $46,398.76
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 174,000 $54,991.96
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 657,000 $479,999.34
B4YVF56 BRENNTAG AG DE BNR GR 992 $46,012.74
B607XS1 VERMILION ENERGY INC CA VET CN 5,415 $134,738.19
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,313,000 $356,593.07
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 20,780 $215,698.19
B63QM77 NEXON CO LTD JP 3659 JP 15,200 $180,718.77
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 972,000 $42,086.29
B8FMRX8 COLOPLAST-B DK COLOB DC 1,420 $135,574.72
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 4,900 $35,885.18
BB22L96 KION GROUP AG DE KGX GR 2,545 $144,020.82
BBG00MBFLVG6 QRVO US 12/21/18 C67.5 US -283 -$45,280.00
BBG00MCR9B13 BABA US 12/07/18 C165 CN -84 -$18,480.00
BBG00MD5C001 NOW US 12/07/18 C205 US -68 -$680.00
BBG00MHMRQ16 GOOG US 12/28/18 C1110 US -16 -$31,520.00
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 3,815 $98,313.81
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 2,800 $31,142.49
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 166,000 $72,587.17
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 196,000 $191,100.00
BD9Y9B7 BASIC-FIT NV NL BFIT NA 3,345 $100,434.24
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 160,000 $65,894.36
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 454,000 $577,870.88
BDZV116 EPIROC AB-A SE EPIA SS 13,515 $110,733.20
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 7,400 $32,340.32
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 400,000 $366,000.00
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 1,370 $235,501.47
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 7,100 $51,776.57
BG7ZWY7 AMBEV SA BR ABEV3 BZ 23,000 $100,636.15
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 61,450 $94,612.31
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 219,000 $167,170.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 146,439 $5,854,432.77
BNGN9Z1 FINECOBANK SPA IT FBK IM 9,615 $103,376.41
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 118,060 $3,628,578.93
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 5,600 $154,509.09
BSQXJ01 THULE GROUP AB/THE SE THULE SS 7,195 $134,772.63
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 54,175 $134,201.49
BYQ32R1 NEMAK SAB DE CV MX 133,500 $95,695.63
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 252,000 $106,139.96
BYXS699 QIAGEN N.V. NL QIA GR 3,469 $122,762.54
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 87,894 $6,752,935.69
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 4,264 $19,827.16
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,116 $69,551.70
BZ3C3Q4 BANKIA SA ES BKIA SM 44,848 $148,448.45
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 8,160 $68,260.07
G02602103 AMDOCS LTD GG DOX 4,835 $313,839.85
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 2,110 $83,724.80
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 2,025 $98,293.50
G27358103 DESPEGAR.COM CORP AR DESP 2,460 $36,752.40
G3157S106 ENSCO INTERNATIONAL INC US ESV 226,375 $1,283,546.25
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 295,000 $305,325.00
G5960L103 MEDTRONIC INC IE MDT 82,815 $8,076,946.95
G84720104 STERIS PLC GB STE 865 $103,004.20
G97822103 PERRIGO CO PLC IE PRGO 3,320 $206,769.60
H8817H100 TRANSOCEAN LTD US RIG 145,235 $1,347,780.80
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 1,250 $139,762.50
N22717107 CORE LABORATORIES N.V. NL CLB 1,110 $92,252.10
N47279109 INTERXION HOLDING NV NL INXN 76,075 $4,737,190.25
N72482123 QIAGEN N.V. ADR NL QGEN 2,432 $86,190.08
USD US DOLLAR US 1,214,145 $1,214,145.00

Investments will change over time.

Distributions

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

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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