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 securities 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

$16.87

Daily $ Change

-$0.01

Daily % Change

-0.06%

as of 04/07/2020

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

Performance

As of 03/31/2020

YTD

-7.61%

1 Year

1.47%

3 Year

4.47%

5 Year

3.48%

10 Year

5.97%

Inception
(10/12/1993)

7.71%

US Stock Market Cycle (04/01/2000 - 03/31/2020)

6.19%

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 1.02%*

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

Top Ten Investments

As of 03/31/2020

GOVERNMENT AGENCY 5.08%
TREASURY NOTES 5.02%
TREASURY BONDS 2.97%
FACEBOOK INC -A 2.88%
BOOKING HOLDINGS INC 2.24%
MASTERCARD INC-CLASS A 2.19%
VISA INC - CLASS A SHARES 1.94%
NEXON CO LTD 1.89%
AMAZON.COM INC 1.80%
TSY INFL IX N/B 2.00000 01/15/2026 1.79%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2020

Stocks 56.86%
Bonds 37.90%
Cash 5.24%

Detailed Asset Class Allocation

As of 03/31/2020

International Equities 17.47%
Small Capitalization 0.19%
Mid Capitalization 2.90%
Large Capitalization 36.30%
Long Term Fixed Income 13.23%
Intermediate Term Fixed Income 21.96%
Short Term Fixed Income 2.71%
Cash 5.24%

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

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 50,000 $48,875.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,990,000 $2,113,715.61
00287Y109 ABBVIE INC US ABBV 1,943 $148,037.17
004239109 ACADIA REALTY TRUST US AKR 3,140 $38,904.60
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 50,000 $43,000.00
00507V109 ACTIVISION INC US ATVI 72,790 $4,329,549.20
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,030,000 $1,718,700.94
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 55,000 $47,850.00
008492100 AGREE REALTY CORP US ADC 1,025 $63,447.50
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,050,000 $881,899.64
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 100,000 $78,372.96
013092AC5 ALBERTSONS COS/SAFEWAY 4.62500 01/15/2027 US 40,000 $39,800.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 385 $52,768.10
01609W102 ALIBABA GROUP - ADR CN BABA 13,525 $2,630,342.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,570,000 $1,645,727.65
020002101 ALLSTATE CORPORATION US ALL 571 $52,377.83
02005NBF6 ALLY FINANCIAL INC 5.75000 11/20/2025 US 90,000 $88,038.00
02079K107 ALPHABET INC-CL C US GOOG 4,930 $5,732,653.30
02079K305 ALPHABET INC-CL A US GOOGL 4,995 $5,803,940.25
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 90,000 $87,201.00
023135106 AMAZON.COM INC US AMZN 3,900 $7,603,908.00
02319V103 AMBEV SA-ADR BR ABEV 59,713 $137,339.90
0237400 DIAGEO PLC GB DGE LN 70,441 $2,233,645.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,725 $103,368.75
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,560 $198,592.00
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 55,000 $49,500.14
03027X100 AMERICAN TOWER REIT INC US AMT 11,910 $2,593,402.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,170,000 $2,196,690.93
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 32,600.58 $32,359.55
03064D108 AMERICOLD REALTY TRUST US COLD 6,775 $230,621.00
032654105 ANALOG DEVICES INC US ADI 536 $48,052.40
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 50,000 $32,000.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 55,000 $35,200.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 4,491 $157,858.65
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 1,159 $40,773.62
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 55,000 $44,000.00
053015103 AUTOMATIC DATA PROCESSING US ADP 513 $70,116.84
053484101 AVALONBAY COMMUNITIES INC US AVB 1,665 $245,038.05
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,090,000 $854,813.52
055622104 BP PLC-SPONS ADR GB BP 30,175 $735,968.25
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 2,411,000 $2,264,678.82
05722G100 BAKER HUGHES CO US BKR 2,403 $25,231.50
060505104 BANK OF AMERICA CORP US BAC 8,506 $180,582.38
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,190,000 $3,357,127.80
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 22,645 $4,140,185.35
086516101 BEST BUY INC US BBY 644 $36,708.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 36,580 $3,091,010.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 17,210 $153,067.65
09857L108 BOOKING HOLDINGS INC US BKNG 7,010 $9,430,693.20
101121101 BOSTON PROPERTIES INC US BXP 1,856 $171,178.88
105368203 BRANDYWINE REALTY TRUST US BDN 10,510 $110,565.20
110122108 BRISTOL MYERS SQUIBB CO US BMY 2,634 $146,819.16
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 130,000 $9,100.00
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 50,000 $49,000.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 34,650 $3,092,512.50
12527GAC7 CF INDUSTRIES 3.45000 06/01/2023 US 90,000 $88,431.30
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 434 $28,730.80
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 395,225.16 $391,262.67
12572Q105 CME GROUP INC US CME 11,990 $2,073,190.90
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 455,007.58 $433,278.15
127097103 CABOT OIL & GAS CORP US COG 271,090 $4,660,037.10
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 75,000 $54,026.25
133131102 CAMDEN PROPERTY TRUST US CPT 2,505 $198,496.20
13321L108 CAMECO CORP CA CCJ 31,956 $244,143.84
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 130,000 $120,575.00
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 85,000 $83,512.50
149123101 CATERPILLAR INC US CAT 888 $103,043.52
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 554,847.15 $531,415.62
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 50,000 $50,000.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 3,440 $1,500,906.40
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 1,800,574.06 $1,786,113.47
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 609,547.63 $605,768.68
166764100 CHEVRON CORP US CVX 26,560 $1,924,537.60
172062101 CINCINNATI FINANCIAL CORP US CINF 318 $23,993.10
17275R102 CISCO SYSTEMS INC US CSCO 4,921 $193,444.51
172967424 CITIGROUP INC US C 2,556 $107,658.72
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,060,000 $1,662,660.78
191216100 COCA COLA CO/THE US KO 121,260 $5,365,755.00
194162103 COLGATE-PALMOLIVE CO US CL 1,380 $91,576.80
20030N101 COMCAST CORP-CL A US CMCSA 3,874 $133,188.12
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 1,690,000 $1,744,559.67
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,627,054.2 $1,644,739.30
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,995 $114,648.60
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 80,000 $72,220.00
205887102 CONAGRA BRAND INC. US CAG 1,232 $36,146.88
20825C104 CONOCOPHILLIPS US COP 60,401 $1,860,350.80
21036P108 CONSTELLATION BRANDS INC-A US STZ 283 $40,570.88
222795502 COUSINS PROPERTIES INC US CUZ 5,982 $175,093.14
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 55,000 $50,050.00
22822V101 CROWN CASTLE INTL CORP US CCI 1,310 $189,164.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 1,000,000 $957,942.75
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 432,605.99 $408,107.77
231021106 CUMMINS INC US CMI 350 $47,362.00
23110AAA4 CUMULUS MEDIA NEW HLDGS 6.75000 07/01/2026 US 135,000 $120,825.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 15,170 $77,504.65
253868103 DIGITAL REALTY TRUST INC US DLR 2,891 $401,588.81
254687106 WALT DISNEY CO/THE US DIS 20,370 $1,967,742.00
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 95,000 $96,898.01
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,230,000 $2,246,888.50
256746108 DOLLAR TREE STORES INC US DLTR 27,210 $1,999,118.70
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 175,000 $164,500.00
25960P109 DOUGLAS EMMETT INC US DEI 4,145 $126,463.95
260003108 DOVER CORP US DOV 286 $24,006.84
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 245,000 $245,612.50
262006208 DREYFUS GVT CSH MANAGEMENT US 23,337,115.68 $23,337,115.68
26875P101 EOG RESOURCES INC US EOG 55,246 $1,984,436.32
2715777 QUEBECOR INC -CL B CA QBR/B CN 9,830 $217,303.56
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 17,705 $287,220.32
285512109 ELECTRONIC ARTS US EA 32,680 $3,273,555.60
2866857 LUNDIN MINING CORP CA LUN CN 18,870 $70,931.78
291011104 EMERSON ELEC CO US EMR 1,300 $61,945.00
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,380,000 $1,256,533.51
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 80,000 $78,000.00
29444U700 EQUINIX INC US EQIX 6,778 $4,233,335.46
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 3,945 $226,758.60
29476L107 EQUITY RESIDENTIAL US EQR 2,975 $183,587.25
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 5,220 $68,173.20
297178105 ESSEX PROPERTY TRUST INC US ESS 452 $99,548.48
30212P303 EXPEDIA INC US EXPE 32,770 $1,843,967.90
30212PAP0 EXPEDIA INC 3.80000 02/15/2028 US 1,125,000 $972,440.63
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,625,000 $4,665,468.75
30225T102 EXTRA SPACE STORAGE INC US EXR 540 $51,710.40
30261UAJ3 FREMF 2013-K713 B 3.49209 04/25/2046 US 249,200.28 $248,608.28
30287EAE0 FREMF 2014-K41 B FLT 3.83276 11/25/2047 US 1,315,000 $1,331,504.04
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 75,007,745.66 $168,264.88
30291XAE2 FREMF 2014-K715 B FLT 3.97107 02/25/2046 US 1,279,000 $1,276,878.27
30303M102 FACEBOOK INC -A US FB 72,915 $12,162,222.00
311900104 FASTENAL CO US FAST 1,416 $44,250.00
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 93,673.32 $107,814.26
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 393,219.48 $445,035.38
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 394,088.08 $445,686.25
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 150,233.37 $170,203.12
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 95,201.9 $108,221.06
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 4,277.95 $4,467.20
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 8,781.22 $9,023.50
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 6,040.77 $6,225.50
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 5,661.35 $5,900.20
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 9,273.46 $9,642.63
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 189,965.1 $215,143.53
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 359,266.97 $394,548.00
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 287,479.75 $315,702.58
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 423,124.43 $464,680.71
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 534,228.62 $577,329.06
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 418,362.7 $453,041.52
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 127.54 $127.64
3136AY6W8 FNA 2017-M15 A1 2.95938 09/25/2027 US 1,298,156.3 $1,405,145.54
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 771,011.43 $824,373.52
3137A2B34 FHMS K009 X1 FLT 1.25934 08/25/2020 US 5,789,902.32 $15,386.09
3137ADTK3 FHMS K014 X1 FLT 1.14953 04/25/2021 US 8,764,392.39 $77,745.42
3137AJMG6 FMHS K016 X1 FLT 1.47814 10/25/2021 US 3,593,776.8 $67,417.46
3137AME78 FHMS K017 X1 FLT 1.28632 12/25/2021 US 14,658,811.37 $241,124.25
3137AUPF0 FHMS K021 x1 FLT 1.42038 06/25/2022 US 10,538,106.78 $269,156.95
3137B3NB0 FHMS K030 X1 FLT 0.18047 04/25/2023 US 42,234,946.24 $207,246.88
3137B4GZ3 FHMS K032 X1 FLT 0.09504 05/25/2023 US 27,162,089.68 $91,644.89
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 767,397.09 $795,449.60
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 605,892.46 $624,524.26
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 501,601.17 $542,206.45
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 432,380.7 $497,539.18
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 679,065.15 $734,092.91
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 890,936.09 $974,092.65
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 222,964.66 $256,780.65
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 546,017.75 $590,018.45
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 1,095,341.17 $1,271,313.48
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 560,254.65 $611,076.88
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 416,416.12 $452,085.50
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 405,477.34 $438,305.60
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 547,656.01 $582,852.56
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 659,081.14 $708,293.07
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 496,012.04 $537,530.59
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 410,688.75 $442,081.24
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 1,253,680.74 $1,353,129.96
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 806,193.31 $868,426.97
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 5,636.35 $5,770.67
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 6,645.55 $6,806.77
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 25,900.37 $26,279.74
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,033.62 $29,420.86
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 222,698.64 $256,473.98
31410KJY1 FEDERAL NATL MTG ASSN 889579 6.00000 05/01/2038 US 181,013.81 $208,410.25
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 86,630.77 $97,889.20
31415VXY6 FEDERAL NATL MTG ASSN 990895 5.50000 10/01/2023 US 13,081.66 $13,863.31
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 11,096.38 $12,778.94
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 595.03 $600.34
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 23,016.8 $23,349.64
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 369,173.2 $404,171.09
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 492,507.15 $540,697.22
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 371,775.32 $408,157.16
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,345,048.27 $1,429,953.33
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,174,645.15 $1,237,012.86
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 1,240,000 $1,274,057.78
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 17,283.62 $19,885.86
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 446,872.02 $514,643.12
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 285,019.69 $322,779.87
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 9,234.71 $9,804.95
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 135,000 $133,353.00
316773100 FIFTH THIRD BANCORP US FITB 1,623 $24,101.55
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,910 $63,469.30
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 80,000 $68,800.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,220,000 $1,133,530.55
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 75,000 $62,277.75
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 125,000 $91,562.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 110,000 $85,800.00
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 427,000 $429,808.12
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 13,957.12 $13,973.85
369550108 GENERAL DYNAMICS CORP US GD 473 $62,582.63
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,980,000 $1,633,500.00
370334104 GENERAL MLS INC US GIS 1,187 $62,637.99
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 75,000 $52,215.00
372460105 GENUINE PARTS CO US GPC 444 $29,894.52
374297109 GETTY REALTY CORP US GTY 2,200 $52,228.00
375558103 GILEAD SCIENCES INC US GILD 1,748 $130,680.48
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,375,305.15 $1,397,793.04
384802104 WW GRAINGER INC US GWW 101 $25,098.50
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 338,935 $4,135,007.00
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 60,000 $59,268.00
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 95,000 $89,300.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,695 $91,428.30
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 1,070 $100,729.80
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,542,653.04
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 45,000 $41,850.00
416515104 HARTFORD FINL SVCS US HIG 833 $29,354.92
421946104 HEALTHCARE REALTY TRUST INC US HR 3,945 $110,183.85
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 2,280 $55,358.40
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 7,150 $170,527.50
427866108 HERSHEY CO/THE US HSY 436 $57,770.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,485 $101,336.40
437076102 HOME DEPOT INC US HD 1,172 $218,824.12
438516106 HONEYWELL INTERNATIONAL INC US HON 998 $133,522.42
440452100 HORMEL FOODS CORP US HRL 847 $39,504.08
44107P104 HOST MARRIOTT CORP US HST 5,425 $59,892.00
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 85,000 $79,050.00
452308109 ILLINOIS TOOL WKS INC US ITW 572 $81,292.64
45337C102 INCYTE CORP US INCY 18,380 $1,345,967.40
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 80,000 $63,600.00
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 1,199 $91,040.07
458140100 INTEL CORP US INTC 4,556 $246,570.72
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 26,310 $2,124,532.50
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,240 $137,553.20
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 212 $21,640.96
46187BAA1 IHSFR 2017-SFR2 A 1.65013 12/17/2036 US 482,368.79 $437,784.31
46187BAB9 IHSFR 2017-SFR2 B 1.95013 12/17/2036 US 390,000 $340,565.98
46187W107 INVITATION HOMES INC US INVH 11,853 $253,298.61
46284PAP9 IRON MOUNTAIN INC 5.75000 08/15/2024 US 85,000 $84,575.00
46625H100 JP MORGAN CHASE & CO US JPM 2,811 $253,074.33
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 295,100.97 $294,438.97
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 263,830.45 $267,925.68
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 426,787.29 $423,253.96
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,540,000 $1,631,747.49
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 690,499.22 $687,616.80
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 947,854.45 $946,779.96
4741844 MERCK KGAA DE MRK GR 39,969 $4,035,357.57
476405105 JERNIGAN CAPITAL INC US JCAP 7,065 $77,432.40
478160104 JOHNSON & JOHNSON US JNJ 52,448 $6,877,506.24
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 105,000 $4,725.00
482480100 KLA-TENCOR CORPORATION US KLAC 350 $50,309.00
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 70,000 $70,350.00
49427F108 KILROY REALTY CORP US KRC 4,883 $311,047.10
494368103 KIMBERLY CLARK CORP US KMB 598 $76,466.26
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,650,000 $1,716,160.88
501044101 KROGER CO US KR 1,734 $52,228.08
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 150,000 $130,500.00
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 100,000 $84,000.00
5107401 BEIERSDORF AG DE BEI GR 2,625 $264,313.55
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 75,000 $28,500.00
53223X107 LIFE STORAGE INC US LSI 485 $45,856.75
532457108 ELI LILLY & CO US LLY 857 $118,883.04
539830109 LOCKHEED MARTIN CORP US LMT 382 $129,478.90
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 50,000 $9,125.00
550021109 LULULEMON - ADR CA LULU 13,354 $2,531,250.70
56585A102 MARATHON PETROLEUM CORP US MPC 1,455 $34,367.10
57636Q104 MASTERCARD INC-CLASS A US MA 38,175 $9,221,553.00
58933Y105 MERCK & CO INC US MRK 2,836 $218,201.84
594918104 MICROSOFT CORP US MSFT 42,710 $6,735,794.10
595112103 MICRON TECHNOLOGY INC US MU 125,300 $5,270,118.00
59522J103 MID-AMERICA APARTMENT COMM US MAA 765 $78,817.95
60871R209 MOLSON COORS BREWING CO -B US TAP 615 $23,991.15
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 94,440 $4,729,555.20
615369105 MOODY'S CORPORATION US MCO 7,410 $1,567,215.00
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 50,000 $14,500.00
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 50,000 $36,000.00
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 5,800 $75,154.42
6356934 FANUC LTD JP 6954 JP 1,200 $160,351.02
637417106 NATIONAL RETAIL PROPERTIES US NNN 1,745 $56,171.55
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 75,000 $73,875.00
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 50,000 $46,000.00
64110D104 NETAPP INC US NTAP 600 $25,014.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 292,736.61 $302,749.43
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 458,036.79 $471,967.80
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 479,903.81 $493,627.24
6490995 KEYENCE CORP JP 6861 JP 1,100 $353,663.82
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 45,000 $43,875.00
65409QBB7 NIELSEN FINANCE LLC/CO 5.00000 04/15/2022 US 85,000 $78,354.70
654106103 NIKE INC CLASS B US NKE 25,330 $2,095,804.20
655844108 NORFOLK SOUTHN CORP US NSC 352 $51,392.00
6642321 NIKON CORP JP 7731 JP 257,200 $2,360,650.03
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 105,000 $51,450.00
66987V109 NOVARTIS AG- REG CH NVS 86,990 $7,172,325.50
670346105 NUCOR CORP US NUE 856 $30,833.12
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 50,000 $39,750.00
67066G104 NVIDIA CORP US NVDA 8,260 $2,177,336.00
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 90,000 $80,724.31
6742340 SHANDONG WEIGAO CN 1066 HK 264,000 $331,414.35
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 75,000 $28,718.63
6821506 SONY CORP FIRST SECTION JP 6758 JP 8,000 $473,868.64
68245XAE9 1011778 BC / NEW RED FIN 5.00000 10/15/2025 CA 85,000 $81,174.15
68389X105 ORACLE CORP US ORCL 2,644 $127,784.52
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,010,000 $969,327.30
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 85,000 $56,100.00
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 975,084.22 $995,476.74
693475105 PNC FINANCIAL SERVICES GROUP US PNC 548 $52,454.56
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,850 $391,544.88
70450Y103 PAYPAL HOLDINGS INC US PYPL 31,100 $2,977,514.00
7123870 NESTLE SA-REGISTERED CH NESN SW 50,726 $5,192,708.79
713448108 PEPSICO INC US PEP 17,610 $2,114,961.00
717081103 PFIZER INC US PFE 6,348 $207,198.72
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 75,000 $60,750.00
71943U104 PHYSICIANS REALTY TRUST US DOC 6,855 $95,558.70
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 90,000 $83,250.00
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 3,250,000 $3,169,702.90
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 85,000 $83,962.15
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 50,000 $49,000.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 115,000 $99,187.50
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 1,200,000 $1,160,925.60
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 920,000 $909,125.60
74340W103 PROLOGIS US PLD 9,679 $777,901.23
74460D109 PUBLIC STORAGE INC US PSA 1,465 $290,963.65
747525103 QUALCOMM INC US QCOM 1,242 $84,021.30
74834L100 QUEST DIAGNOSTICS INC US DGX 361 $28,988.30
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 125,000 $123,125.00
755111507 RAYTHEON COMPANY US RTN 392 $51,410.80
756109104 REALTY INCOME CORP US O 1,130 $56,341.80
7591EP100 REGIONS FINANCIAL CORP. US RF 2,422 $21,725.34
76131D103 RESTAURANT BRANDS INTERN CA QSR 7,330 $293,419.90
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 850 $34,858.50
7698356 GETINGE AB-B SHS SE GETIB SS 13,450 $254,327.62
773903109 ROCKWELL AUTOMATION INC US ROK 251 $37,878.41
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 21,180 $691,738.80
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 64,721 $3,436,037.89
78409V104 S&P GLOBAL INC US SPGI 5,905 $1,447,020.25
78410G104 SBA COMMUNICATIONS CORP US SBAC 10,830 $2,923,775.10
78410GAC8 SBA COMMUNICATIONS CORP 3.87500 02/15/2027 US 65,000 $65,162.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 105,000 $90,300.00
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 734,713.65 $731,516.10
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,370,000 $2,144,376.24
79466L302 SALESFORCE.COM US CRM 23,115 $3,328,097.70
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 2,190,000 $2,234,253.24
806857108 SCHLUMBERGER LTD NL SLB 86,026 $1,160,490.74
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 100,000 $96,000.00
81141R100 SEA LTD - ADR SG SE 5,600 $248,136.00
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 1,501,367.65 $1,506,295.44
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 393,327.7 $383,691.76
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 391,283.06 $391,657.99
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 334,519.05 $318,872.62
81762P102 SERVICENOW INC US NOW 7,260 $2,080,570.80
828806109 SIMON PROPERTY GROUP INC US SPG 1,930 $105,879.80
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 320 $35,520.00
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 32,898.95 $32,863.14
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 300,000 $294,814.08
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 845,862.5 $819,496.97
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 639,450.51 $620,279.46
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 199,763.49 $199,780.99
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 880,000 $851,106.34
835699307 SONY CORP SPONSORED ADR JP SNE 94,420 $5,587,775.60
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 2,360,000 $2,348,208.05
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 85,000 $84,150.00
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 115,000 $115,069.00
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 50,000 $51,535.00
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 75,000 $82,323.75
85254J102 STAG INDUSTRIAL INC US STAG 3,350 $75,442.00
855030AN2 STAPLES INC 7.50000 04/15/2026 US 85,000 $75,118.75
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 140,000 $130,914.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.17463 11/15/2027 US 971,430.41 $906,704.20
862121100 STORE CAPITAL CORP US STOR 4,195 $76,013.40
866674104 SUN COMMUNITIES US SUI 2,955 $368,931.75
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 4,545 $39,586.95
871829107 SYSCO CORP US SYY 957 $43,667.91
872540AR0 TJX COS INC 3.50000 04/15/2025 US 1,130,000 $1,155,049.89
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 123,170.64 $122,529.88
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 65,000 $44,525.00
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,620,000 $1,807,517.24
88146M101 TERRENO REALTY CORP US TRNO 655 $33,896.25
882508104 TEXAS INSTRUMENTS INC US TXN 1,325 $132,407.25
883556102 THERMO FISHER SCIENTIFIC INC US TMO 7,150 $2,027,740.00
88579Y101 3M CO US MMM 857 $116,989.07
89151E109 TOTAL S A SPONSORED ADR FR TOT 55,405 $2,063,282.20
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 753,550.08 $740,405.60
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 1,016,799.15 $1,017,255.69
89177EAA7 TPMT 2019-HY1 A1 1.94663 10/25/2048 US 898,123.73 $881,069.17
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 125,000 $120,000.00
89417E109 TRAVELLERS COS INC US TRV 461 $45,800.35
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 844,516.12 $830,210.95
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 997,171.11 $978,814.59
89832Q109 TRUIST FINANCIAL CORP US TFC 2,355 $72,628.20
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 175,000 $145,250.00
902494103 TYSON FOODS INC -CL A US TSN 750 $43,402.50
902653104 UDR INC US UDR 2,583 $94,382.82
902973304 U.S. BANCORP US USB 2,455 $84,574.75
904767704 UNILEVER PLC - ADR GB UL 134,578 $6,805,609.46
907818108 UNION PAC CORP US UNP 948 $133,705.92
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 6,797,692.5 $7,561,256.16
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 2,007,266.61 $2,248,001.41
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 3,836,000 $4,796,348.58
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 5,585,000 $7,741,769.95
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,231,877.75 $5,307,452.07
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 19,565,000 $21,184,462.35
913017109 UNITED TECHNOLOGIES CORP US UTX 1,183 $111,592.39
91704F104 URBAN EDGE PROPERTIES US UE 5,050 $44,490.50
918204108 VF CORP US VFC 887 $47,968.96
91911KAK8 BAUSCH HEALTH COS INC 7.00000 03/15/2024 CA 85,000 $86,592.90
91913Y100 VALERO ENERGY US VLO 862 $39,100.32
92276F100 VENTAS INC US VTR 1,526 $40,896.80
92339V100 VEREIT INC US VER 9,765 $47,750.85
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 2,720,000 $3,454,727.30
92826C839 VISA INC - CLASS A SHARES US V 50,735 $8,174,423.20
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 80,000 $64,700.00
92840VAB8 VISTRA OPERATIONS CO LLC 5.62500 02/15/2027 US 90,000 $92,812.50
93065PAA9 WBHT 2019-WBM A FLT 1.75463 12/15/2033 US 1,200,000 $1,033,763.52
931142103 WAL MART STORES US WMT 2,338 $265,643.56
94106L109 WASTE MANAGEMENT INC US WM 783 $72,474.48
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 70,000 $63,000.00
949746101 WELLS FARGO COMPANY US WFC 5,244 $150,502.80
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 462,353.78 $463,508.28
95040Q104 WELLTOWER INC. US WELL 3,334 $152,630.52
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 50,000 $46,449.00
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 75,000 $5,040.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,720,000 $1,575,579.10
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 156,965.93 $155,603.39
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 332,162.31 $337,209.42
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 1,790 $56,402.90
983793AD2 XPO LOGISTICS INC 6.50000 06/15/2022 US 80,000 $80,200.00
B02J639 ADMIRAL GROUP PLC GB ADM LN 22,295 $614,005.83
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 26,800 $90,694.66
B1Y47Y7 GERRESHEIMER AG DE GXI GR 3,840 $242,144.44
B1Y9TB3 DANONE FR BN FP 6,753 $432,180.39
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,112,000 $131,234.64
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 358,000 $266,855.38
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,057,000 $213,586.70
B4YVF56 BRENNTAG AG DE BNR GR 6,520 $236,885.72
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,313,000 $308,833.79
B63QM77 NEXON CO LTD JP 3659 JP 489,000 $7,990,671.70
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 972,000 $42,011.62
B7KR2P8 EASY JET PLC GB EZJ LN 322,475 $2,234,604.87
BBG00S178J65 SNE US 04/09/20 JP -215 -$21,500.00
BBG00S4P5V77 FB US 04/03/20 US -96 -$2,208.00
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 4,956 $87,729.12
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 4,140 $36,225.00
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 51,610 $59,538.43
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 265 $5,048.64
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 7,800 $92,985.72
BJ2KSG2 AKZO NOBEL NL AKZA NA 3,620 $238,082.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 97,245 $4,806,588.27
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 69,640 $236,512.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 44,720 $402,350.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 12,595 $326,382.55
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 31,020 $167,625.32
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 55,379 $2,446,085.67
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 54,655 $64,114.56
BZ1HM42 ADYEN NV NL ADYEN NA 15 $12,748.43
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 10,040 $170,981.20
G1151C101 ACCENTURE PLC - CL A IE ACN 2,090 $341,213.40
G29183103 EATON CORP PLC US ETN 835 $64,871.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,833 $49,417.68
G5494J103 LINDE PLC GB LIN 551 $95,323.00
G5960L103 MEDTRONIC INC IE MDT 29,728 $2,680,871.04
G8994E103 TRANE TECHNOLOGIES IE TT 417 $34,440.03
G97822103 PERRIGO CO PLC IE PRGO 5,830 $280,364.70
H01301128 ALCON INC CH ALC 47,631 $2,420,607.42
H1467J104 CHUBB LTD CH CB 682 $76,172.58
H2906T109 GARMIN LTD CH GRMN 359 $26,910.64
N53745100 LYONDELLBASELL INDU-CL A US LYB 830 $41,192.90

Investments will change over time.

Distributions

  • Pro-Blend® Extended Term Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 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

$16.87

Daily $ Change

-$0.01

Daily % Change

-0.06%

as of 04/07/2020

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

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 securities 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 03/31/2020

YTD

-7.61%

1 Year

1.47%

3 Year

4.47%

5 Year

3.48%

10 Year

5.97%

Inception
(10/12/1993)

7.71%

US Stock Market Cycle (04/01/2000 - 03/31/2020)

6.19%

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 1.02%*

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

Top Ten Investments

As of 03/31/2020

GOVERNMENT AGENCY 5.08%
TREASURY NOTES 5.02%
TREASURY BONDS 2.97%
FACEBOOK INC -A 2.88%
BOOKING HOLDINGS INC 2.24%
MASTERCARD INC-CLASS A 2.19%
VISA INC - CLASS A SHARES 1.94%
NEXON CO LTD 1.89%
AMAZON.COM INC 1.80%
TSY INFL IX N/B 2.00000 01/15/2026 1.79%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2020

Stocks
56.86%
Bonds
37.90%
Cash
5.24%

Detailed Asset Class Allocation

As of 03/31/2020

International Equities
17.47%
Small Capitalization
0.19%
Mid Capitalization
2.90%
Large Capitalization
36.30%
Long Term Fixed Income
13.23%
Intermediate Term Fixed Income
21.96%
Short Term Fixed Income
2.71%
Cash
5.24%

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

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 50,000 $48,875.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,990,000 $2,113,715.61
00287Y109 ABBVIE INC US ABBV 1,943 $148,037.17
004239109 ACADIA REALTY TRUST US AKR 3,140 $38,904.60
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 50,000 $43,000.00
00507V109 ACTIVISION INC US ATVI 72,790 $4,329,549.20
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,030,000 $1,718,700.94
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 55,000 $47,850.00
008492100 AGREE REALTY CORP US ADC 1,025 $63,447.50
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,050,000 $881,899.64
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 100,000 $78,372.96
013092AC5 ALBERTSONS COS/SAFEWAY 4.62500 01/15/2027 US 40,000 $39,800.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 385 $52,768.10
01609W102 ALIBABA GROUP - ADR CN BABA 13,525 $2,630,342.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,570,000 $1,645,727.65
020002101 ALLSTATE CORPORATION US ALL 571 $52,377.83
02005NBF6 ALLY FINANCIAL INC 5.75000 11/20/2025 US 90,000 $88,038.00
02079K107 ALPHABET INC-CL C US GOOG 4,930 $5,732,653.30
02079K305 ALPHABET INC-CL A US GOOGL 4,995 $5,803,940.25
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 90,000 $87,201.00
023135106 AMAZON.COM INC US AMZN 3,900 $7,603,908.00
02319V103 AMBEV SA-ADR BR ABEV 59,713 $137,339.90
0237400 DIAGEO PLC GB DGE LN 70,441 $2,233,645.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,725 $103,368.75
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,560 $198,592.00
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 55,000 $49,500.14
03027X100 AMERICAN TOWER REIT INC US AMT 11,910 $2,593,402.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,170,000 $2,196,690.93
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 32,600.58 $32,359.55
03064D108 AMERICOLD REALTY TRUST US COLD 6,775 $230,621.00
032654105 ANALOG DEVICES INC US ADI 536 $48,052.40
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 50,000 $32,000.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 55,000 $35,200.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 4,491 $157,858.65
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 1,159 $40,773.62
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 55,000 $44,000.00
053015103 AUTOMATIC DATA PROCESSING US ADP 513 $70,116.84
053484101 AVALONBAY COMMUNITIES INC US AVB 1,665 $245,038.05
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,090,000 $854,813.52
055622104 BP PLC-SPONS ADR GB BP 30,175 $735,968.25
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 2,411,000 $2,264,678.82
05722G100 BAKER HUGHES CO US BKR 2,403 $25,231.50
060505104 BANK OF AMERICA CORP US BAC 8,506 $180,582.38
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,190,000 $3,357,127.80
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 22,645 $4,140,185.35
086516101 BEST BUY INC US BBY 644 $36,708.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 36,580 $3,091,010.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 17,210 $153,067.65
09857L108 BOOKING HOLDINGS INC US BKNG 7,010 $9,430,693.20
101121101 BOSTON PROPERTIES INC US BXP 1,856 $171,178.88
105368203 BRANDYWINE REALTY TRUST US BDN 10,510 $110,565.20
110122108 BRISTOL MYERS SQUIBB CO US BMY 2,634 $146,819.16
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 130,000 $9,100.00
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 50,000 $49,000.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 34,650 $3,092,512.50
12527GAC7 CF INDUSTRIES 3.45000 06/01/2023 US 90,000 $88,431.30
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 434 $28,730.80
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 395,225.16 $391,262.67
12572Q105 CME GROUP INC US CME 11,990 $2,073,190.90
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 455,007.58 $433,278.15
127097103 CABOT OIL & GAS CORP US COG 271,090 $4,660,037.10
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 75,000 $54,026.25
133131102 CAMDEN PROPERTY TRUST US CPT 2,505 $198,496.20
13321L108 CAMECO CORP CA CCJ 31,956 $244,143.84
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 130,000 $120,575.00
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 85,000 $83,512.50
149123101 CATERPILLAR INC US CAT 888 $103,043.52
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 554,847.15 $531,415.62
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 50,000 $50,000.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 3,440 $1,500,906.40
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 1,800,574.06 $1,786,113.47
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 609,547.63 $605,768.68
166764100 CHEVRON CORP US CVX 26,560 $1,924,537.60
172062101 CINCINNATI FINANCIAL CORP US CINF 318 $23,993.10
17275R102 CISCO SYSTEMS INC US CSCO 4,921 $193,444.51
172967424 CITIGROUP INC US C 2,556 $107,658.72
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,060,000 $1,662,660.78
191216100 COCA COLA CO/THE US KO 121,260 $5,365,755.00
194162103 COLGATE-PALMOLIVE CO US CL 1,380 $91,576.80
20030N101 COMCAST CORP-CL A US CMCSA 3,874 $133,188.12
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 1,690,000 $1,744,559.67
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,627,054.2 $1,644,739.30
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,995 $114,648.60
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 80,000 $72,220.00
205887102 CONAGRA BRAND INC. US CAG 1,232 $36,146.88
20825C104 CONOCOPHILLIPS US COP 60,401 $1,860,350.80
21036P108 CONSTELLATION BRANDS INC-A US STZ 283 $40,570.88
222795502 COUSINS PROPERTIES INC US CUZ 5,982 $175,093.14
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 55,000 $50,050.00
22822V101 CROWN CASTLE INTL CORP US CCI 1,310 $189,164.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 1,000,000 $957,942.75
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 432,605.99 $408,107.77
231021106 CUMMINS INC US CMI 350 $47,362.00
23110AAA4 CUMULUS MEDIA NEW HLDGS 6.75000 07/01/2026 US 135,000 $120,825.00
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 15,170 $77,504.65
253868103 DIGITAL REALTY TRUST INC US DLR 2,891 $401,588.81
254687106 WALT DISNEY CO/THE US DIS 20,370 $1,967,742.00
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 95,000 $96,898.01
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,230,000 $2,246,888.50
256746108 DOLLAR TREE STORES INC US DLTR 27,210 $1,999,118.70
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 175,000 $164,500.00
25960P109 DOUGLAS EMMETT INC US DEI 4,145 $126,463.95
260003108 DOVER CORP US DOV 286 $24,006.84
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 245,000 $245,612.50
262006208 DREYFUS GVT CSH MANAGEMENT US 23,337,115.68 $23,337,115.68
26875P101 EOG RESOURCES INC US EOG 55,246 $1,984,436.32
2715777 QUEBECOR INC -CL B CA QBR/B CN 9,830 $217,303.56
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 17,705 $287,220.32
285512109 ELECTRONIC ARTS US EA 32,680 $3,273,555.60
2866857 LUNDIN MINING CORP CA LUN CN 18,870 $70,931.78
291011104 EMERSON ELEC CO US EMR 1,300 $61,945.00
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,380,000 $1,256,533.51
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 80,000 $78,000.00
29444U700 EQUINIX INC US EQIX 6,778 $4,233,335.46
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 3,945 $226,758.60
29476L107 EQUITY RESIDENTIAL US EQR 2,975 $183,587.25
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 5,220 $68,173.20
297178105 ESSEX PROPERTY TRUST INC US ESS 452 $99,548.48
30212P303 EXPEDIA INC US EXPE 32,770 $1,843,967.90
30212PAP0 EXPEDIA INC 3.80000 02/15/2028 US 1,125,000 $972,440.63
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,625,000 $4,665,468.75
30225T102 EXTRA SPACE STORAGE INC US EXR 540 $51,710.40
30261UAJ3 FREMF 2013-K713 B 3.49209 04/25/2046 US 249,200.28 $248,608.28
30287EAE0 FREMF 2014-K41 B FLT 3.83276 11/25/2047 US 1,315,000 $1,331,504.04
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 75,007,745.66 $168,264.88
30291XAE2 FREMF 2014-K715 B FLT 3.97107 02/25/2046 US 1,279,000 $1,276,878.27
30303M102 FACEBOOK INC -A US FB 72,915 $12,162,222.00
311900104 FASTENAL CO US FAST 1,416 $44,250.00
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 93,673.32 $107,814.26
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 393,219.48 $445,035.38
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 394,088.08 $445,686.25
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 150,233.37 $170,203.12
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 95,201.9 $108,221.06
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 4,277.95 $4,467.20
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 8,781.22 $9,023.50
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 6,040.77 $6,225.50
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 5,661.35 $5,900.20
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 9,273.46 $9,642.63
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 189,965.1 $215,143.53
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 359,266.97 $394,548.00
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 287,479.75 $315,702.58
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 423,124.43 $464,680.71
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 534,228.62 $577,329.06
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 418,362.7 $453,041.52
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 127.54 $127.64
3136AY6W8 FNA 2017-M15 A1 2.95938 09/25/2027 US 1,298,156.3 $1,405,145.54
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 771,011.43 $824,373.52
3137A2B34 FHMS K009 X1 FLT 1.25934 08/25/2020 US 5,789,902.32 $15,386.09
3137ADTK3 FHMS K014 X1 FLT 1.14953 04/25/2021 US 8,764,392.39 $77,745.42
3137AJMG6 FMHS K016 X1 FLT 1.47814 10/25/2021 US 3,593,776.8 $67,417.46
3137AME78 FHMS K017 X1 FLT 1.28632 12/25/2021 US 14,658,811.37 $241,124.25
3137AUPF0 FHMS K021 x1 FLT 1.42038 06/25/2022 US 10,538,106.78 $269,156.95
3137B3NB0 FHMS K030 X1 FLT 0.18047 04/25/2023 US 42,234,946.24 $207,246.88
3137B4GZ3 FHMS K032 X1 FLT 0.09504 05/25/2023 US 27,162,089.68 $91,644.89
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 767,397.09 $795,449.60
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 605,892.46 $624,524.26
3138AJXA5 FEDERAL NATL MTG ASSN A15172 4.00000 08/01/2041 US 501,601.17 $542,206.45
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 432,380.7 $497,539.18
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 679,065.15 $734,092.91
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 890,936.09 $974,092.65
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 222,964.66 $256,780.65
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 546,017.75 $590,018.45
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 1,095,341.17 $1,271,313.48
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 560,254.65 $611,076.88
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 416,416.12 $452,085.50
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 405,477.34 $438,305.60
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 547,656.01 $582,852.56
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 659,081.14 $708,293.07
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 496,012.04 $537,530.59
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 410,688.75 $442,081.24
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 1,253,680.74 $1,353,129.96
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 806,193.31 $868,426.97
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 5,636.35 $5,770.67
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 6,645.55 $6,806.77
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 25,900.37 $26,279.74
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,033.62 $29,420.86
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 222,698.64 $256,473.98
31410KJY1 FEDERAL NATL MTG ASSN 889579 6.00000 05/01/2038 US 181,013.81 $208,410.25
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 86,630.77 $97,889.20
31415VXY6 FEDERAL NATL MTG ASSN 990895 5.50000 10/01/2023 US 13,081.66 $13,863.31
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 11,096.38 $12,778.94
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 595.03 $600.34
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 23,016.8 $23,349.64
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 369,173.2 $404,171.09
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 492,507.15 $540,697.22
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 371,775.32 $408,157.16
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,345,048.27 $1,429,953.33
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,174,645.15 $1,237,012.86
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 1,240,000 $1,274,057.78
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 17,283.62 $19,885.86
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 446,872.02 $514,643.12
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 285,019.69 $322,779.87
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 9,234.71 $9,804.95
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 135,000 $133,353.00
316773100 FIFTH THIRD BANCORP US FITB 1,623 $24,101.55
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,910 $63,469.30
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 80,000 $68,800.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,220,000 $1,133,530.55
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 75,000 $62,277.75
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 125,000 $91,562.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 110,000 $85,800.00
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 427,000 $429,808.12
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 13,957.12 $13,973.85
369550108 GENERAL DYNAMICS CORP US GD 473 $62,582.63
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,980,000 $1,633,500.00
370334104 GENERAL MLS INC US GIS 1,187 $62,637.99
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 75,000 $52,215.00
372460105 GENUINE PARTS CO US GPC 444 $29,894.52
374297109 GETTY REALTY CORP US GTY 2,200 $52,228.00
375558103 GILEAD SCIENCES INC US GILD 1,748 $130,680.48
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,375,305.15 $1,397,793.04
384802104 WW GRAINGER INC US GWW 101 $25,098.50
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 338,935 $4,135,007.00
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 60,000 $59,268.00
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 95,000 $89,300.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,695 $91,428.30
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 1,070 $100,729.80
404119BX6 HCA INC 4.12500 06/15/2029 US 1,540,000 $1,542,653.04
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 45,000 $41,850.00
416515104 HARTFORD FINL SVCS US HIG 833 $29,354.92
421946104 HEALTHCARE REALTY TRUST INC US HR 3,945 $110,183.85
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 2,280 $55,358.40
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 7,150 $170,527.50
427866108 HERSHEY CO/THE US HSY 436 $57,770.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,485 $101,336.40
437076102 HOME DEPOT INC US HD 1,172 $218,824.12
438516106 HONEYWELL INTERNATIONAL INC US HON 998 $133,522.42
440452100 HORMEL FOODS CORP US HRL 847 $39,504.08
44107P104 HOST MARRIOTT CORP US HST 5,425 $59,892.00
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 85,000 $79,050.00
452308109 ILLINOIS TOOL WKS INC US ITW 572 $81,292.64
45337C102 INCYTE CORP US INCY 18,380 $1,345,967.40
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 80,000 $63,600.00
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 1,199 $91,040.07
458140100 INTEL CORP US INTC 4,556 $246,570.72
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 26,310 $2,124,532.50
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,240 $137,553.20
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 212 $21,640.96
46187BAA1 IHSFR 2017-SFR2 A 1.65013 12/17/2036 US 482,368.79 $437,784.31
46187BAB9 IHSFR 2017-SFR2 B 1.95013 12/17/2036 US 390,000 $340,565.98
46187W107 INVITATION HOMES INC US INVH 11,853 $253,298.61
46284PAP9 IRON MOUNTAIN INC 5.75000 08/15/2024 US 85,000 $84,575.00
46625H100 JP MORGAN CHASE & CO US JPM 2,811 $253,074.33
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 295,100.97 $294,438.97
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 263,830.45 $267,925.68
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 426,787.29 $423,253.96
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 1,540,000 $1,631,747.49
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 690,499.22 $687,616.80
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 947,854.45 $946,779.96
4741844 MERCK KGAA DE MRK GR 39,969 $4,035,357.57
476405105 JERNIGAN CAPITAL INC US JCAP 7,065 $77,432.40
478160104 JOHNSON & JOHNSON US JNJ 52,448 $6,877,506.24
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 105,000 $4,725.00
482480100 KLA-TENCOR CORPORATION US KLAC 350 $50,309.00
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 70,000 $70,350.00
49427F108 KILROY REALTY CORP US KRC 4,883 $311,047.10
494368103 KIMBERLY CLARK CORP US KMB 598 $76,466.26
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,650,000 $1,716,160.88
501044101 KROGER CO US KR 1,734 $52,228.08
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 150,000 $130,500.00
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 100,000 $84,000.00
5107401 BEIERSDORF AG DE BEI GR 2,625 $264,313.55
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 75,000 $28,500.00
53223X107 LIFE STORAGE INC US LSI 485 $45,856.75
532457108 ELI LILLY & CO US LLY 857 $118,883.04
539830109 LOCKHEED MARTIN CORP US LMT 382 $129,478.90
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 50,000 $9,125.00
550021109 LULULEMON - ADR CA LULU 13,354 $2,531,250.70
56585A102 MARATHON PETROLEUM CORP US MPC 1,455 $34,367.10
57636Q104 MASTERCARD INC-CLASS A US MA 38,175 $9,221,553.00
58933Y105 MERCK & CO INC US MRK 2,836 $218,201.84
594918104 MICROSOFT CORP US MSFT 42,710 $6,735,794.10
595112103 MICRON TECHNOLOGY INC US MU 125,300 $5,270,118.00
59522J103 MID-AMERICA APARTMENT COMM US MAA 765 $78,817.95
60871R209 MOLSON COORS BREWING CO -B US TAP 615 $23,991.15
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 94,440 $4,729,555.20
615369105 MOODY'S CORPORATION US MCO 7,410 $1,567,215.00
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 50,000 $14,500.00
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 50,000 $36,000.00
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 5,800 $75,154.42
6356934 FANUC LTD JP 6954 JP 1,200 $160,351.02
637417106 NATIONAL RETAIL PROPERTIES US NNN 1,745 $56,171.55
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 75,000 $73,875.00
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 50,000 $46,000.00
64110D104 NETAPP INC US NTAP 600 $25,014.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 292,736.61 $302,749.43
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 458,036.79 $471,967.80
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 479,903.81 $493,627.24
6490995 KEYENCE CORP JP 6861 JP 1,100 $353,663.82
65342QAK8 NEXTERA ENERGY OPERATING 4.25000 07/15/2024 US 45,000 $43,875.00
65409QBB7 NIELSEN FINANCE LLC/CO 5.00000 04/15/2022 US 85,000 $78,354.70
654106103 NIKE INC CLASS B US NKE 25,330 $2,095,804.20
655844108 NORFOLK SOUTHN CORP US NSC 352 $51,392.00
6642321 NIKON CORP JP 7731 JP 257,200 $2,360,650.03
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 105,000 $51,450.00
66987V109 NOVARTIS AG- REG CH NVS 86,990 $7,172,325.50
670346105 NUCOR CORP US NUE 856 $30,833.12
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 50,000 $39,750.00
67066G104 NVIDIA CORP US NVDA 8,260 $2,177,336.00
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 90,000 $80,724.31
6742340 SHANDONG WEIGAO CN 1066 HK 264,000 $331,414.35
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 75,000 $28,718.63
6821506 SONY CORP FIRST SECTION JP 6758 JP 8,000 $473,868.64
68245XAE9 1011778 BC / NEW RED FIN 5.00000 10/15/2025 CA 85,000 $81,174.15
68389X105 ORACLE CORP US ORCL 2,644 $127,784.52
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,010,000 $969,327.30
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 85,000 $56,100.00
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 975,084.22 $995,476.74
693475105 PNC FINANCIAL SERVICES GROUP US PNC 548 $52,454.56
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,850 $391,544.88
70450Y103 PAYPAL HOLDINGS INC US PYPL 31,100 $2,977,514.00
7123870 NESTLE SA-REGISTERED CH NESN SW 50,726 $5,192,708.79
713448108 PEPSICO INC US PEP 17,610 $2,114,961.00
717081103 PFIZER INC US PFE 6,348 $207,198.72
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 75,000 $60,750.00
71943U104 PHYSICIANS REALTY TRUST US DOC 6,855 $95,558.70
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 90,000 $83,250.00
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 3,250,000 $3,169,702.90
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 85,000 $83,962.15
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 50,000 $49,000.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 115,000 $99,187.50
74331AAA0 2019- SFR4 CLASS A 2.68700 10/17/2036 US 1,200,000 $1,160,925.60
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 920,000 $909,125.60
74340W103 PROLOGIS US PLD 9,679 $777,901.23
74460D109 PUBLIC STORAGE INC US PSA 1,465 $290,963.65
747525103 QUALCOMM INC US QCOM 1,242 $84,021.30
74834L100 QUEST DIAGNOSTICS INC US DGX 361 $28,988.30
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 125,000 $123,125.00
755111507 RAYTHEON COMPANY US RTN 392 $51,410.80
756109104 REALTY INCOME CORP US O 1,130 $56,341.80
7591EP100 REGIONS FINANCIAL CORP. US RF 2,422 $21,725.34
76131D103 RESTAURANT BRANDS INTERN CA QSR 7,330 $293,419.90
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 850 $34,858.50
7698356 GETINGE AB-B SHS SE GETIB SS 13,450 $254,327.62
773903109 ROCKWELL AUTOMATION INC US ROK 251 $37,878.41
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 21,180 $691,738.80
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 64,721 $3,436,037.89
78409V104 S&P GLOBAL INC US SPGI 5,905 $1,447,020.25
78410G104 SBA COMMUNICATIONS CORP US SBAC 10,830 $2,923,775.10
78410GAC8 SBA COMMUNICATIONS CORP 3.87500 02/15/2027 US 65,000 $65,162.50
78442PGC4 SLM CORP 5.12500 04/05/2022 US 105,000 $90,300.00
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 734,713.65 $731,516.10
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,370,000 $2,144,376.24
79466L302 SALESFORCE.COM US CRM 23,115 $3,328,097.70
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 2,190,000 $2,234,253.24
806857108 SCHLUMBERGER LTD NL SLB 86,026 $1,160,490.74
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 100,000 $96,000.00
81141R100 SEA LTD - ADR SG SE 5,600 $248,136.00
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 1,501,367.65 $1,506,295.44
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 393,327.7 $383,691.76
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 391,283.06 $391,657.99
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 334,519.05 $318,872.62
81762P102 SERVICENOW INC US NOW 7,260 $2,080,570.80
828806109 SIMON PROPERTY GROUP INC US SPG 1,930 $105,879.80
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 320 $35,520.00
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 32,898.95 $32,863.14
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 300,000 $294,814.08
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 845,862.5 $819,496.97
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 639,450.51 $620,279.46
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 199,763.49 $199,780.99
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 880,000 $851,106.34
835699307 SONY CORP SPONSORED ADR JP SNE 94,420 $5,587,775.60
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 2,360,000 $2,348,208.05
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 85,000 $84,150.00
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 115,000 $115,069.00
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 50,000 $51,535.00
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 75,000 $82,323.75
85254J102 STAG INDUSTRIAL INC US STAG 3,350 $75,442.00
855030AN2 STAPLES INC 7.50000 04/15/2026 US 85,000 $75,118.75
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 140,000 $130,914.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.17463 11/15/2027 US 971,430.41 $906,704.20
862121100 STORE CAPITAL CORP US STOR 4,195 $76,013.40
866674104 SUN COMMUNITIES US SUI 2,955 $368,931.75
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 4,545 $39,586.95
871829107 SYSCO CORP US SYY 957 $43,667.91
872540AR0 TJX COS INC 3.50000 04/15/2025 US 1,130,000 $1,155,049.89
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 123,170.64 $122,529.88
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 65,000 $44,525.00
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,620,000 $1,807,517.24
88146M101 TERRENO REALTY CORP US TRNO 655 $33,896.25
882508104 TEXAS INSTRUMENTS INC US TXN 1,325 $132,407.25
883556102 THERMO FISHER SCIENTIFIC INC US TMO 7,150 $2,027,740.00
88579Y101 3M CO US MMM 857 $116,989.07
89151E109 TOTAL S A SPONSORED ADR FR TOT 55,405 $2,063,282.20
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 753,550.08 $740,405.60
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 1,016,799.15 $1,017,255.69
89177EAA7 TPMT 2019-HY1 A1 1.94663 10/25/2048 US 898,123.73 $881,069.17
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 125,000 $120,000.00
89417E109 TRAVELLERS COS INC US TRV 461 $45,800.35
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 844,516.12 $830,210.95
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 997,171.11 $978,814.59
89832Q109 TRUIST FINANCIAL CORP US TFC 2,355 $72,628.20
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 175,000 $145,250.00
902494103 TYSON FOODS INC -CL A US TSN 750 $43,402.50
902653104 UDR INC US UDR 2,583 $94,382.82
902973304 U.S. BANCORP US USB 2,455 $84,574.75
904767704 UNILEVER PLC - ADR GB UL 134,578 $6,805,609.46
907818108 UNION PAC CORP US UNP 948 $133,705.92
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 6,797,692.5 $7,561,256.16
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 2,007,266.61 $2,248,001.41
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 3,836,000 $4,796,348.58
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 5,585,000 $7,741,769.95
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,231,877.75 $5,307,452.07
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 19,565,000 $21,184,462.35
913017109 UNITED TECHNOLOGIES CORP US UTX 1,183 $111,592.39
91704F104 URBAN EDGE PROPERTIES US UE 5,050 $44,490.50
918204108 VF CORP US VFC 887 $47,968.96
91911KAK8 BAUSCH HEALTH COS INC 7.00000 03/15/2024 CA 85,000 $86,592.90
91913Y100 VALERO ENERGY US VLO 862 $39,100.32
92276F100 VENTAS INC US VTR 1,526 $40,896.80
92339V100 VEREIT INC US VER 9,765 $47,750.85
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 2,720,000 $3,454,727.30
92826C839 VISA INC - CLASS A SHARES US V 50,735 $8,174,423.20
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 80,000 $64,700.00
92840VAB8 VISTRA OPERATIONS CO LLC 5.62500 02/15/2027 US 90,000 $92,812.50
93065PAA9 WBHT 2019-WBM A FLT 1.75463 12/15/2033 US 1,200,000 $1,033,763.52
931142103 WAL MART STORES US WMT 2,338 $265,643.56
94106L109 WASTE MANAGEMENT INC US WM 783 $72,474.48
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 70,000 $63,000.00
949746101 WELLS FARGO COMPANY US WFC 5,244 $150,502.80
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 462,353.78 $463,508.28
95040Q104 WELLTOWER INC. US WELL 3,334 $152,630.52
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 50,000 $46,449.00
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 75,000 $5,040.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,720,000 $1,575,579.10
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 156,965.93 $155,603.39
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 332,162.31 $337,209.42
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 1,790 $56,402.90
983793AD2 XPO LOGISTICS INC 6.50000 06/15/2022 US 80,000 $80,200.00
B02J639 ADMIRAL GROUP PLC GB ADM LN 22,295 $614,005.83
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 26,800 $90,694.66
B1Y47Y7 GERRESHEIMER AG DE GXI GR 3,840 $242,144.44
B1Y9TB3 DANONE FR BN FP 6,753 $432,180.39
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,112,000 $131,234.64
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 358,000 $266,855.38
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,057,000 $213,586.70
B4YVF56 BRENNTAG AG DE BNR GR 6,520 $236,885.72
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 7,313,000 $308,833.79
B63QM77 NEXON CO LTD JP 3659 JP 489,000 $7,990,671.70
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 972,000 $42,011.62
B7KR2P8 EASY JET PLC GB EZJ LN 322,475 $2,234,604.87
BBG00S178J65 SNE US 04/09/20 JP -215 -$21,500.00
BBG00S4P5V77 FB US 04/03/20 US -96 -$2,208.00
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 4,956 $87,729.12
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 4,140 $36,225.00
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 51,610 $59,538.43
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 265 $5,048.64
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 7,800 $92,985.72
BJ2KSG2 AKZO NOBEL NL AKZA NA 3,620 $238,082.90
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 97,245 $4,806,588.27
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 69,640 $236,512.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 44,720 $402,350.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 12,595 $326,382.55
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 31,020 $167,625.32
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 55,379 $2,446,085.67
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 54,655 $64,114.56
BZ1HM42 ADYEN NV NL ADYEN NA 15 $12,748.43
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 10,040 $170,981.20
G1151C101 ACCENTURE PLC - CL A IE ACN 2,090 $341,213.40
G29183103 EATON CORP PLC US ETN 835 $64,871.15
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,833 $49,417.68
G5494J103 LINDE PLC GB LIN 551 $95,323.00
G5960L103 MEDTRONIC INC IE MDT 29,728 $2,680,871.04
G8994E103 TRANE TECHNOLOGIES IE TT 417 $34,440.03
G97822103 PERRIGO CO PLC IE PRGO 5,830 $280,364.70
H01301128 ALCON INC CH ALC 47,631 $2,420,607.42
H1467J104 CHUBB LTD CH CB 682 $76,172.58
H2906T109 GARMIN LTD CH GRMN 359 $26,910.64
N53745100 LYONDELLBASELL INDU-CL A US LYB 830 $41,192.90

Investments will change over time.

Distributions

  • Pro-Blend® Extended Term Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 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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