Investment Objective

To provide equal emphasis on long-term capital growth and capital preservation.

Investment Strategy

The portfolio is invested in a moderately conservative mix of securities that seeks to balance growth and capital preservation for a more stable rate of return relative to an investment in the stock market. Holdings are diversified primarily among intermediate to long-term fixed income securities. Because this fund is designed to moderate risk, stocks will typically be a minority in the portfolio, unless the fund manager’s analysis shows that the stock market is especially attractive.

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 long term capital growth and who seek to minimize extreme declines in account value
  • Who have a moderate tolerance for capital risk

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 15+ Years 7-20 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

$11.01

Daily $ Change

$0.07

Daily % Change

0.64%

as of 11/24/2020

Ticker

MNMIX

CUSIP

56382P682

Inception Date

03/28/2008

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans 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 10/31/2020

YTD

6.70%

1 Year

9.37%

3 Year

6.53%

5 Year

6.26%

10 Year

5.90%

Inception
(09/15/1993)

6.71%

Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 03/28/2008 (the inception date of the Class I shares), performance for the Class I shares is based on the historical performance of the Class S shares. Because the Class I shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.87%
Net 0.85%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2020

TREASURY NOTES 9.37%
GOVERNMENT AGENCY 7.39%
TSY INFL IX N/B 2.00000 01/15/2026 2.59%
TSY INFL IX N/B 0.12500 04/15/2025 1.93%
EXPEDIA INC 1.24%
UNILEVER PLC - ADR 1.22%
VISA INC - CLASS A SHARES 1.12%
JOHNSON & JOHNSON 1.11%
NOVARTIS AG- REG 1.09%
COCA COLA CO/THE 1.08%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2020

Bonds 54.08%
Stocks 43.90%
Cash 2.02%

Detailed Asset Class Allocation

As of 10/31/2020

International Equities 12.85%
Small Capitalization 1.94%
Mid Capitalization 7.72%
Large Capitalization 21.39%
Long Term Fixed Income 16.13%
Intermediate Term Fixed Income 33.10%
Short Term Fixed Income 4.85%
Cash 2.02%

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

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,018,000 $1,171,121.19
00287Y109 ABBVIE INC US ABBV 1,438 $122,373.80
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 161,535 $825,443.85
00507V109 ACTIVISION INC US ATVI 33,599 $2,544,452.27
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 140,000 $145,425.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,633,691.85
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 155,000 $155,387.50
008492100 AGREE REALTY CORP US ADC 3,270 $202,968.90
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 535,000 $534,001.21
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 1,913,000 $1,966,853.02
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 176,000 $185,382.49
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 30,000 $32,206.20
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 352 $53,335.04
01609W102 ALIBABA GROUP - ADR CN BABA 13,725 $4,181,870.25
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,000,000 $3,347,219.67
020002101 ALLSTATE CORPORATION US ALL 422 $37,452.50
02079K305 ALPHABET INC-CL A US GOOGL 2,457 $3,970,782.27
023135106 AMAZON.COM INC US AMZN 1,619 $4,915,526.85
0237400 DIAGEO PLC GB DGE LN 46,568 $1,504,984.37
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,975 $186,363.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,106 $229,156.62
03027X100 AMERICAN TOWER REIT INC US AMT 9,187 $2,109,794.55
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,793,000 $3,178,246.09
03064D108 AMERICOLD REALTY TRUST US COLD 7,332 $265,638.36
03217CAA4 AMS AG 7.00000 07/31/2025 AT 190,000 $200,925.00
032654105 ANALOG DEVICES INC US ADI 367 $43,500.51
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 176,000 $158,400.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 103,000 $91,670.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 3,181 $101,473.90
03784Y200 APPLE HOSPITALITY REIT INC US APLE 15,631 $154,746.90
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 828 $38,286.72
053015103 AUTOMATIC DATA PROCESSING US ADP 357 $56,391.72
053484101 AVALONBAY COMMUNITIES INC US AVB 1,039 $144,556.07
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,384,000 $1,263,302.12
055622104 BP PLC-SPONS ADR GB BP 4,322 $66,904.56
05722G100 BAKER HUGHES CO US BKR 1,766 $26,083.82
060505104 BANK OF AMERICA CORP US BAC 6,071 $143,882.70
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,578,000 $1,754,450.05
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 149,000 $147,268.62
084423102 WR BERKLEY CORP US WRB 37,178 $2,235,141.36
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 17,141 $3,460,767.90
086516101 BEST BUY INC US BBY 462 $51,536.10
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 31,062 $2,311,944.66
105368203 BRANDYWINE REALTY TRUST US BDN 9,614 $84,218.64
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,981 $115,789.45
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 513,000 $513.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 10,304 $837,612.16
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 243,661.61 $247,751.15
12514G108 CDW CORP/DE US CDW 13,855 $1,698,623.00
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 1,011,827.05 $1,022,521.25
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 891,128.01 $898,283.32
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 295 $26,086.85
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 348,616.25 $360,843.27
12572Q105 CME GROUP INC US CME 5,460 $822,931.20
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 958,183.61 $1,001,799.46
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 671,597.31 $684,223.21
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 374,950.9 $387,125.71
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 181,628.84 $188,004.61
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 114,000 $115,835.40
127097103 CABOT OIL & GAS CORP US COG 265,020 $4,714,705.80
133131102 CAMDEN PROPERTY TRUST US CPT 1,881 $173,503.44
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,378,000 $2,567,246.61
13321L108 CAMECO CORP CA CCJ 204,560 $1,945,365.60
14174T107 CARETRUST REIT INC US CTRE 3,696 $63,201.60
149123101 CATERPILLAR INC US CAT 607 $95,329.35
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 557,998.08 $560,012.51
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 6,422 $3,877,732.04
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 483,075.66 $484,062.68
166764100 CHEVRON CORP US CVX 9,930 $690,135.00
172062101 CINCINNATI FINANCIAL CORP US CINF 235 $16,623.90
17275R102 CISCO SYSTEMS INC US CSCO 3,487 $125,183.30
172967424 CITIGROUP INC US C 1,824 $75,550.08
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,135,000 $2,463,328.58
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,530,000 $2,505,484.30
191216100 COCA COLA CO/THE US KO 104,951 $5,043,945.06
194162103 COLGATE-PALMOLIVE CO US CL 1,046 $82,518.94
20030N101 COMCAST CORP-CL A US CMCSA 2,643 $111,640.32
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,546,000 $2,830,645.02
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,560,179.54 $1,592,180.85
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,526 $116,953.80
20449X401 COMPASS GROUP PLC ADR GB CMPGY 122,065 $1,684,497.00
205887102 CONAGRA BRAND INC. US CAG 901 $31,616.09
20605P101 CONCHO RESOURCES INC US CXO 60,640 $2,517,166.40
20825C104 CONOCOPHILLIPS US COP 61,733 $1,766,798.46
21036P108 CONSTELLATION BRANDS INC-A US STZ 206 $34,037.38
217204106 COPART INC US CPRT 16,470 $1,817,629.20
222795502 COUSINS PROPERTIES INC US CUZ 8,150 $207,662.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,583,000 $1,617,276.38
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 2,230,000 $2,228,804.50
22822V101 CROWN CASTLE INTL CORP US CCI 1,785 $278,817.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,332,000 $2,505,921.56
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 428,770.4 $439,166.75
229663109 CUBESMART US CUBE 3,875 $131,478.75
231021106 CUMMINS INC US CMI 258 $56,731.62
253868103 DIGITAL REALTY TRUST INC US DLR 2,787 $402,164.10
256746108 DOLLAR TREE STORES INC US DLTR 19,685 $1,777,949.20
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 1,607,000 $1,812,988.97
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 90,000 $94,275.00
25960P109 DOUGLAS EMMETT INC US DEI 5,291 $124,867.60
260003108 DOVER CORP US DOV 202 $22,363.42
262006208 DREYFUS GVT CSH MANAGEMENT US 9,591,358.15 $9,591,358.15
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 129,000 $147,060.00
264411505 DUKE RLTY INVTS INC US DRE 4,734 $179,844.66
26875P101 EOG RESOURCES INC US EOG 50,608 $1,732,817.92
26884L109 EQT CORP US EQT 131,518 $1,991,182.52
26884LAG4 EQT CORP 8.75000 02/01/2030 US 85,000 $105,612.50
2715777 QUEBECOR INC -CL B CA QBR/B CN 15,570 $361,231.48
27579R104 EAST WEST BANCORP INC US EWBC 56,050 $2,044,704.00
285512109 ELECTRONIC ARTS US EA 14,323 $1,716,325.09
291011104 EMERSON ELEC CO US EMR 887 $57,468.73
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,728,000 $2,909,624.89
29444U700 EQUINIX INC US EQIX 5,142 $3,760,036.08
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 3,500 $207,165.00
29476L107 EQUITY RESIDENTIAL US EQR 1,361 $63,939.78
297178105 ESSEX PROPERTY TRUST INC US ESS 276 $56,466.84
30212P303 EXPEDIA INC US EXPE 61,350 $5,776,102.50
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 1,129,000 $1,241,524.80
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,250,000 $4,264,497.47
30225T102 EXTRA SPACE STORAGE INC US EXR 675 $78,266.25
30231G102 EXXON MOBIL CORP US XOM 41,680 $1,359,601.60
302491303 FMC CORP US FMC 16,994 $1,745,963.56
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 133,000 $118,702.50
30287EAE0 FREMF 2014-K41 B FLT 3.83288 11/25/2047 US 48,000 $52,603.77
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 144,052,804.52 $250,046.86
30303M102 FACEBOOK INC -A US FB 12,916 $3,398,328.76
311900104 FASTENAL CO US FAST 1,000 $43,230.00
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 961.86 $1,119.47
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 146,349.12 $171,079.19
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 161,927.09 $190,661.89
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 12,733.59 $14,755.26
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 13,539.02 $15,661.37
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 174,254.27 $202,577.25
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 78,061.92 $91,568.18
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 94,320.82 $111,082.72
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 4,148.87 $4,302.79
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 6,254.53 $6,358.23
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 4,493.57 $4,583.08
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 4,723.71 $4,874.35
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 7,294.37 $7,516.46
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 167,087.14 $180,867.09
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 217,801.73 $252,400.25
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 637,449.39 $702,943.09
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 10,011.44 $11,040.26
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 12,906.32 $14,232.50
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,045,050.2 $1,173,891.52
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 362,932 $384,738.00
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 3,500,000 $3,652,180.88
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 196,461.53 $214,999.73
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 410,555.84 $444,608.33
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 9,005,000 $8,948,953.33
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 1,475,211.98 $1,591,941.82
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 509,097.16 $526,939.23
3137ADTK3 FHMS K014 X1 FLT 1.15276 04/25/2021 US 7,173,637.57 $17,627.06
3137AJMG6 FMHS K016 X1 FLT 1.48091 10/25/2021 US 4,801,524.21 $36,483.90
3137AME78 FHMS K017 X1 FLT 1.28576 12/25/2021 US 7,695,755.4 $68,720.02
3137AUPF0 FHMS K021 x1 FLT 1.40799 06/25/2022 US 11,176,311.63 $191,194.28
3137B3NB0 FHMS K030 X1 FLT 0.17200 04/25/2023 US 57,689,292.51 $216,807.90
3137B4GZ3 FHMS K032 X1 FLT 0.09033 05/25/2023 US 36,514,471.08 $95,766.50
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 532,196.32 $541,697.89
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 278,263.65 $282,068.91
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 594,643.98 $697,924.64
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 397,864.5 $467,938.19
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 191,869.41 $215,394.12
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 1,561,859.74 $1,836,297.04
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 625,441.09 $688,217.43
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 393,003.21 $460,311.87
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 458,327.75 $498,958.73
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 123,068.3 $131,317.51
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 187,870.3 $204,639.88
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 3,011.69 $3,047.94
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 4,247.54 $4,303.93
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 14,451.4 $14,548.87
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 16,491.87 $16,603.29
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 301,665.91 $354,746.70
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 640,739.86 $755,457.12
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 76.4 $76.69
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 8,011.79 $8,063.44
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 606,986.33 $678,658.31
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 459,063.83 $506,122.81
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 447,903.01 $493,826.76
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 854,097.31 $902,592.24
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,206,626.84 $1,278,902.32
31418DQ21 FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 US 1,400,016.28 $1,463,474.90
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 3,598,866.18 $3,754,570.33
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 1,897,708.12 $1,961,820.40
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 32,417.7 $38,294.15
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 108,242.9 $127,460.23
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 8,987.94 $10,451.79
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 9,503.4 $10,014.43
316773100 FIFTH THIRD BANCORP US FITB 1,200 $27,864.00
32054K103 FIRST INDUSTRIAL REALTY TR US FR 4,316 $171,819.96
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 155,000 $155,000.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,541,000 $1,584,409.82
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 200,000 $201,500.00
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 98,000 $97,286.56
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 103,000 $101,476.63
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 98,000 $104,247.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 119,000 $124,355.00
35563BAJ9 FREMF 2014-K37 B FLT 4.55959 01/25/2047 US 1,977,000 $2,179,539.30
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 155,000 $153,450.00
36257MAA3 GSMS 2019-70P A 1.14838 10/15/2036 US 1,342,000 $1,288,135.61
369550108 GENERAL DYNAMICS CORP US GD 351 $46,096.83
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 2,321,000 $1,880,010.00
370334104 GENERAL MLS INC US GIS 898 $53,089.76
372460105 GENUINE PARTS CO US GPC 297 $26,857.71
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 155,000 $161,587.50
374297109 GETTY REALTY CORP US GTY 4,432 $116,472.96
375558103 GILEAD SCIENCES INC US GILD 1,311 $76,234.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 200,000 $202,594.00
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,633,625.31 $1,632,751.81
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,466,804.99 $1,532,277.44
384802104 WW GRAINGER INC US GWW 74 $25,901.48
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 251,315 $3,339,976.35
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,239 $103,060.02
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 864 $99,662.40
4012250 AIRBUS SE FR AIR FP 1,570 $114,870.37
4031976 ADIDAS AG DE ADS GR 700 $207,972.86
404119BX6 HCA INC 4.12500 06/15/2029 US 1,617,000 $1,834,996.65
416515104 HARTFORD FINL SVCS US HIG 622 $23,959.44
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 103,000 $102,871.25
421946104 HEALTHCARE REALTY TRUST INC US HR 3,928 $109,198.40
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 5,920 $143,856.00
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 9,826 $265,007.22
423012301 HEINEKEN NV-SPN ADR NL HEINY 38,825 $1,730,042.00
427866108 HERSHEY CO/THE US HSY 311 $42,750.06
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 90,000 $97,762.50
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 24,193 $2,124,387.33
437076102 HOME DEPOT INC US HD 838 $223,502.98
438516106 HONEYWELL INTERNATIONAL INC US HON 677 $111,671.15
440452100 HORMEL FOODS CORP US HRL 627 $30,528.63
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 155,000 $172,437.50
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 120,000 $122,700.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 98,000 $105,033.95
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 120,000 $120,096.00
452308109 ILLINOIS TOOL WKS INC US ITW 394 $77,176.72
45337C102 INCYTE CORP US INCY 13,040 $1,129,785.60
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 109,000 $107,092.50
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 155,000 $153,450.00
45778Q107 INSPERITY INC US NSP 24,260 $1,857,830.80
458140100 INTEL CORP US INTC 3,110 $137,710.80
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 17,979 $919,446.06
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 37,070 $3,499,408.00
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 872 $97,367.52
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 149 $15,296.34
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 208,000 $219,440.00
46187BAA1 IHSFR 2017-SFR2 A 0.99725 12/17/2036 US 582,936 $581,682.80
46187BAB9 IHSFR 2017-SFR2 B 1.29725 12/17/2036 US 477,000 $476,852.51
46187W107 INVITATION HOMES INC US INVH 12,801 $348,955.26
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 109,000 $108,517.13
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 720,000 $752,699.68
46625H100 JP MORGAN CHASE & CO US JPM 1,946 $190,785.84
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 345,160.01 $351,500.05
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 382,314.48 $399,697.71
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 593,388.31 $605,573.78
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 2,838,000 $3,022,321.71
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 269,130.86 $269,931.90
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 43,577.68 $44,805.00
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 401,331.36 $403,383.13
478160104 JOHNSON & JOHNSON US JNJ 37,820 $5,185,500.20
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 433,000 $14,072.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 83,000 $88,938.65
482480100 KLA-TENCOR CORPORATION US KLAC 251 $49,492.18
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 160,000 $172,000.00
49427F108 KILROY REALTY CORP US KRC 4,145 $195,146.60
494368103 KIMBERLY CLARK CORP US KMB 445 $59,002.55
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,299,000 $2,961,828.21
501044101 KROGER CO US KR 1,301 $41,905.21
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 155,000 $141,437.50
5107401 BEIERSDORF AG DE BEI GR 2,045 $214,129.89
512816109 LAMAR ADVERTISING CO-A US LAMR 1,450 $89,842.00
53223X107 LIFE STORAGE INC US LSI 1,399 $159,695.85
532457108 ELI LILLY & CO US LLY 630 $82,189.80
539830109 LOCKHEED MARTIN CORP US LMT 275 $96,285.75
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 88,000 $89,210.00
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 176,000 $23,320.00
550021109 LULULEMON - ADR CA LULU 468 $149,427.72
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 45,000 $43,056.90
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 155,000 $159,262.50
56585A102 MARATHON PETROLEUM CORP US MPC 1,097 $32,361.50
573284106 MARTIN MARIETTA MATERIALS US MLM 4,309 $1,147,702.15
57636Q104 MASTERCARD INC-CLASS A US MA 17,157 $4,952,196.48
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 106,000 $100,700.00
5852842 ACCOR SA FR AC FP 5,555 $141,585.06
58933Y105 MERCK & CO INC US MRK 2,072 $155,835.12
594918104 MICROSOFT CORP US MSFT 19,279 $3,903,419.13
595112103 MICRON TECHNOLOGY INC US MU 95,714 $4,818,242.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,653 $309,419.39
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 66,796 $3,548,203.52
615369105 MOODY'S CORPORATION US MCO 5,338 $1,403,360.20
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 155,000 $77,112.50
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 3,540 $71,283.90
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 98,000 $52,879.82
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 109,000 $229,771.14
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 155,000 $157,325.00
63938EAC8 NAVSL 2014-1 A3 FLT 0.65925 06/25/2031 US 1,367,310.19 $1,323,814.55
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 97,000 $102,335.00
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 258,164.6 $259,105.56
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 1,631,724.99 $1,636,504.48
63942FAB1 NAVSL 2020-1A A1B 1.19925 06/25/2069 US 2,050,000 $2,071,479.49
64032XAA3 NSLT 2012-3A A MTGE FLT 0.84925 02/25/2045 US 345,778.3 $340,583.71
64033GAA9 NSLT 2013-5A A MTGE FLT 0.77925 01/25/2037 US 477,528.53 $470,509.24
64033NAA4 NLST 2014-5A A 0.69925 07/25/2046 US 1,847,260.71 $1,802,952.50
64033QAB5 NSLT 2015-2A A2 0.74925 09/25/2047 US 683,876.37 $670,811.12
64110D104 NETAPP INC US NTAP 405 $17,775.45
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 201,000 $207,265.17
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 471,460.58 $503,594.91
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 596,401.04 $643,949.05
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 673,600.67 $722,973.78
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 685,000 $702,193.50
655844108 NORFOLK SOUTHN CORP US NSC 259 $54,162.08
6642321 NIKON CORP JP 7731 JP 208,400 $1,270,064.92
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 497,000 $4,970.00
66987V109 NOVARTIS AG- REG CH NVS 64,911 $5,068,250.88
670346105 NUCOR CORP US NUE 634 $30,279.84
6742340 SHANDONG WEIGAO CN 1066 HK 156,000 $302,544.68
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 133,000 $130,173.75
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 160,000 $118,400.00
6821506 SONY CORP FIRST SECTION JP 6758 JP 2,000 $166,732.96
68389X105 ORACLE CORP US ORCL 1,942 $108,965.62
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 155,000 $157,325.00
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 115,000 $113,928.59
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,371,000 $1,396,562.71
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 60,000 $62,185.94
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 100,000 $99,200.00
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 95,000 $96,781.25
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 103,000 $97,077.50
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 872,754.86 $918,466.18
693475105 PNC FINANCIAL SERVICES GROUP US PNC 393 $43,968.84
693506107 PPG INDUSTRIES INC US PPG 274 $35,543.28
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 145,000 $152,105.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 125,000 $130,625.00
701094104 PARKER HANNIFIN CORP US PH 167 $34,796.12
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,435 $358,804.71
70450Y103 PAYPAL HOLDINGS INC US PYPL 17,797 $3,312,555.61
7123870 NESTLE SA-REGISTERED CH NESN SW 28,814 $3,240,939.20
713448108 PEPSICO INC US PEP 12,927 $1,723,039.83
717081103 PFIZER INC US PFE 4,543 $161,185.64
71943U104 PHYSICIANS REALTY TRUST US DOC 4,255 $71,739.30
723787107 PIONEER NATURAL RESOURCES CO US PXD 31,040 $2,469,542.40
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 3,325,000 $3,689,003.54
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 145,000 $146,131.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 98,000 $99,027.04
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,597,225.59 $1,637,600.26
74340W103 PROLOGIS US PLD 8,613 $854,409.60
74460D109 PUBLIC STORAGE INC US PSA 1,194 $273,509.58
747525103 QUALCOMM INC US QCOM 875 $107,940.00
74834L100 QUEST DIAGNOSTICS INC US DGX 253 $30,901.42
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 195,000 $199,387.50
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,417 $76,971.44
756109104 REALTY INCOME CORP US O 1,506 $87,137.16
7591EP100 REGIONS FINANCIAL CORP. US RF 1,793 $23,846.90
76131D103 RESTAURANT BRANDS INTERN CA QSR 4,941 $256,932.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,001 $185,886.46
7698356 GETINGE AB-B SHS SE GETIB SS 16,430 $321,699.08
773903109 ROCKWELL AUTOMATION INC US ROK 175 $41,496.00
7792559 HEINEKEN NV NL HEIA NA 2,530 $223,948.75
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 28,400 $685,860.00
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 35,714 $2,878,548.40
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $528,147.88
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,810,496.52
78409V104 S&P GLOBAL INC US SPGI 3,646 $1,176,673.58
78410G104 SBA COMMUNICATIONS CORP US SBAC 8,013 $2,326,734.81
78442GQJ8 SLMA 2005-7 A4 FLT 0.36475 10/25/2029 US 1,145,342.13 $1,129,307.34
78442PGC4 SLM CORP 5.12500 04/05/2022 US 227,000 $233,242.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 185,000 $187,312.50
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,879,000 $1,939,207.11
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 138,554.81 $140,405.54
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 57,899.55 $58,192.59
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 178,711.3 $179,426.73
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 3,211,000 $3,772,910.42
79466L302 SALESFORCE.COM US CRM 11,122 $2,583,306.94
806857108 SCHLUMBERGER LTD NL SLB 70,787 $1,057,557.78
81141R100 SEA LTD - ADR SG SE 1,230 $193,971.00
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 1,207,824.52 $1,262,285.09
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 421,174.86 $425,899.09
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 577,379.54 $593,417.64
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 729,185.85 $733,871.60
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 328,830.33 $334,551.91
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 265,040.24 $270,929.94
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 33,008.05 $33,425.84
81762P102 SERVICENOW INC US NOW 3,640 $1,811,154.80
83088M102 SKYWORKS SOLUTIONS INC US SWKS 225 $31,790.25
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,500,000 $2,622,519.25
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 235 $26,367.00
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 290,686.67 $297,058.00
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 1,139,897.53 $1,170,816.68
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 116,090.88 $117,454.83
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 416,649.68 $421,134.25
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 3,287.68 $3,289.92
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,155,993.49
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $949,585.15
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,480,906.13
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 108,000 $119,756.88
85254J102 STAG INDUSTRIAL INC US STAG 3,104 $96,596.48
854502101 STANLEY WORKS/THE US SWK 199 $33,073.80
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 160,000 $155,200.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.61838 11/15/2027 US 1,910,952.51 $1,414,643.75
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $193,781.25
866674104 SUN COMMUNITIES US SUI 2,422 $333,339.86
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 245,792.9 $247,200.97
87105L104 SWITCH INC - A US SWCH 13,567 $190,752.02
871829107 SYSCO CORP US SYY 683 $37,776.73
872540AU3 TJX COS INC 4.50000 04/15/2050 US 1,364,000 $1,806,749.44
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 145,000 $141,918.75
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 128,502.21 $128,803.21
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 62,000 $2,300.20
87901JAF2 TEGNA INC 4.75000 03/15/2026 US 75,000 $77,062.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,070,000 $2,331,180.32
88146M101 TERRENO REALTY CORP US TRNO 2,668 $150,155.04
882508104 TEXAS INSTRUMENTS INC US TXN 878 $126,950.02
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,810 $1,802,587.20
88579Y101 3M CO US MMM 616 $98,535.36
89151E109 TOTAL S A SPONSORED ADR FR TOT 48,788 $1,479,740.04
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,010,496.03 $1,032,543.84
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 804,241.63 $824,318.96
89177EAA7 TPMT 2019-HY1 A1 1.14925 10/25/2048 US 751,383.13 $753,852.85
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 150,000 $139,500.00
89417E109 TRAVELLERS COS INC US TRV 344 $41,524.24
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 1,362,057.71 $1,362,883.25
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,507,452.29 $1,550,311.72
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 58,000 $58,142.41
89832Q109 TRUIST FINANCIAL CORP US TFC 1,748 $73,625.76
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 245,000 $233,362.50
902494103 TYSON FOODS INC -CL A US TSN 526 $30,102.98
902653104 UDR INC US UDR 2,870 $89,658.80
902973304 U.S. BANCORP US USB 1,818 $70,811.10
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,677,430.66
907818108 UNION PAC CORP US UNP 690 $122,261.10
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 95,000 $98,325.00
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $222,502.00
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 10,319,332.8 $12,051,247.37
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,467,000 $4,554,635.83
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 14,333,000 $14,525,599.69
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 17,985,000 $19,373,919.68
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 9,135,000 $9,711,290.06
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 8,487,803.1 $8,970,988.95
918204108 VF CORP US VFC 627 $42,134.40
91913Y100 VALERO ENERGY US VLO 650 $25,096.50
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,242,236.00
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,050,000 $3,728,163.96
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 10,895 $2,270,082.20
92826C839 VISA INC - CLASS A SHARES US V 28,628 $5,201,993.88
92826CAK8 VISA INC 2.70000 04/15/2040 US 2,707,000 $2,895,114.49
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 1,375,000 $1,495,716.92
929160109 VULCAN MATERIALS CO US VMC 12,940 $1,874,229.60
93065PAA9 WBHT 2019-WBM A FLT 1.19838 12/15/2033 US 1,204,000 $1,158,833.99
931142103 WAL MART STORES US WMT 1,744 $241,980.00
94106L109 WASTE MANAGEMENT INC US WM 570 $61,508.70
949746101 WELLS FARGO COMPANY US WFC 3,879 $83,204.55
95040Q104 WELLTOWER INC. US WELL 2,971 $159,750.67
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 115,000 $124,415.63
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 2,217,000 $2,417,168.74
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 347,463.56 $357,522.28
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 3,659 $170,180.09
B02J639 ADMIRAL GROUP PLC GB ADM LN 13,900 $495,173.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 18,500 $83,553.73
B1Y47Y7 GERRESHEIMER AG DE GXI GR 2,740 $275,435.94
B1Y9TB3 DANONE FR BN FP 5,016 $278,212.66
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 31,965 $414,107.86
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $165,073.23
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $338,040.95
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $273,167.64
B4YVF56 BRENNTAG AG DE BNR GR 3,610 $230,737.51
B63QM77 NEXON CO LTD JP 3659 JP 158,300 $4,411,965.28
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,749.25
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 3,602 $98,741.18
BD6K457 COMPASS GROUP PLC GB CPG LN 9,915 $135,714.50
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 38,818 $46,956.75
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 200,000 $213,676.40
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 2,915 $148,112.32
BJ2KSG2 AKZO NOBEL NL AKZA NA 2,283 $219,597.14
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $201,214.00
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 64,028 $4,892,101.22
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,405 $64,973.75
BNGN9Z1 FINECOBANK SPA IT FBK IM 36,610 $502,649.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 9,605 $237,140.28
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 21,430 $161,120.53
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 6,540 $140,168.35
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 37,675 $1,948,778.04
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 86,155 $149,136.72
BZ1HM42 ADYEN NV NL ADYEN NA 60 $100,844.30
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 6,908 $182,785.68
G1151C101 ACCENTURE PLC - CL A IE ACN 1,591 $345,103.81
G29183103 EATON CORP PLC US ETN 577 $59,886.83
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,266 $53,437.86
G5494J103 LINDE PLC GB LIN 384 $84,610.56
G5960L103 MEDTRONIC INC IE MDT 22,228 $2,235,469.96
G85158106 STONECO LTD-A BR STNE 4,034 $211,946.36
G8994E103 TRANE TECHNOLOGIES IE TT 294 $39,028.50
G97822103 PERRIGO CO PLC IE PRGO 5,045 $221,324.15
H01301128 ALCON INC CH ALC 86,140 $4,896,197.60
H1467J104 CHUBB LTD CH CB 506 $65,734.46
H2906T109 GARMIN LTD CH GRMN 260 $27,045.20
N53745100 LYONDELLBASELL INDU-CL A US LYB 552 $37,784.40
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $148,120.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,779.54

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • Target 2020 Merger into Pro Blend Moderate
  • Target 2025 Merger into Pro Blend Moderate

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

$11.01

Daily $ Change

$0.07

Daily % Change

0.64%

as of 11/24/2020

Ticker

MNMIX

CUSIP

56382P682

Inception Date

03/28/2008

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans 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 equal emphasis on long-term capital growth and capital preservation.

Investment Strategy

The portfolio is invested in a moderately conservative mix of securities that seeks to balance growth and capital preservation for a more stable rate of return relative to an investment in the stock market. Holdings are diversified primarily among intermediate to long-term fixed income securities. Because this fund is designed to moderate risk, stocks will typically be a minority in the portfolio, unless the fund manager’s analysis shows that the stock market is especially attractive.

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 long term capital growth and who seek to minimize extreme declines in account value
  • Who have a moderate tolerance for capital risk

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 15+ Years 7-20 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 10/31/2020

YTD

6.70%

1 Year

9.37%

3 Year

6.53%

5 Year

6.26%

10 Year

5.90%

Inception
(09/15/1993)

6.71%

Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 03/28/2008 (the inception date of the Class I shares), performance for the Class I shares is based on the historical performance of the Class S shares. Because the Class I shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.87%
Net 0.85%*

*Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2020

TREASURY NOTES 9.37%
GOVERNMENT AGENCY 7.39%
TSY INFL IX N/B 2.00000 01/15/2026 2.59%
TSY INFL IX N/B 0.12500 04/15/2025 1.93%
EXPEDIA INC 1.24%
UNILEVER PLC - ADR 1.22%
VISA INC - CLASS A SHARES 1.12%
JOHNSON & JOHNSON 1.11%
NOVARTIS AG- REG 1.09%
COCA COLA CO/THE 1.08%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2020

Bonds
54.08%
Stocks
43.90%
Cash
2.02%

Detailed Asset Class Allocation

As of 10/31/2020

International Equities
12.85%
Small Capitalization
1.94%
Mid Capitalization
7.72%
Large Capitalization
21.39%
Long Term Fixed Income
16.13%
Intermediate Term Fixed Income
33.10%
Short Term Fixed Income
4.85%
Cash
2.02%

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

October Fund Holdings

As of 10/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,018,000 $1,171,121.19
00287Y109 ABBVIE INC US ABBV 1,438 $122,373.80
00435F309 ACCOR SA-SPONSORED ADR FR ACCYY 161,535 $825,443.85
00507V109 ACTIVISION INC US ATVI 33,599 $2,544,452.27
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 140,000 $145,425.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,633,691.85
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 155,000 $155,387.50
008492100 AGREE REALTY CORP US ADC 3,270 $202,968.90
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 535,000 $534,001.21
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 1,913,000 $1,966,853.02
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 176,000 $185,382.49
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 30,000 $32,206.20
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 352 $53,335.04
01609W102 ALIBABA GROUP - ADR CN BABA 13,725 $4,181,870.25
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,000,000 $3,347,219.67
020002101 ALLSTATE CORPORATION US ALL 422 $37,452.50
02079K305 ALPHABET INC-CL A US GOOGL 2,457 $3,970,782.27
023135106 AMAZON.COM INC US AMZN 1,619 $4,915,526.85
0237400 DIAGEO PLC GB DGE LN 46,568 $1,504,984.37
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,975 $186,363.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,106 $229,156.62
03027X100 AMERICAN TOWER REIT INC US AMT 9,187 $2,109,794.55
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,793,000 $3,178,246.09
03064D108 AMERICOLD REALTY TRUST US COLD 7,332 $265,638.36
03217CAA4 AMS AG 7.00000 07/31/2025 AT 190,000 $200,925.00
032654105 ANALOG DEVICES INC US ADI 367 $43,500.51
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 176,000 $158,400.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 103,000 $91,670.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 3,181 $101,473.90
03784Y200 APPLE HOSPITALITY REIT INC US APLE 15,631 $154,746.90
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 828 $38,286.72
053015103 AUTOMATIC DATA PROCESSING US ADP 357 $56,391.72
053484101 AVALONBAY COMMUNITIES INC US AVB 1,039 $144,556.07
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,384,000 $1,263,302.12
055622104 BP PLC-SPONS ADR GB BP 4,322 $66,904.56
05722G100 BAKER HUGHES CO US BKR 1,766 $26,083.82
060505104 BANK OF AMERICA CORP US BAC 6,071 $143,882.70
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,578,000 $1,754,450.05
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 149,000 $147,268.62
084423102 WR BERKLEY CORP US WRB 37,178 $2,235,141.36
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 17,141 $3,460,767.90
086516101 BEST BUY INC US BBY 462 $51,536.10
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 31,062 $2,311,944.66
105368203 BRANDYWINE REALTY TRUST US BDN 9,614 $84,218.64
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,981 $115,789.45
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 513,000 $513.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 10,304 $837,612.16
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 243,661.61 $247,751.15
12514G108 CDW CORP/DE US CDW 13,855 $1,698,623.00
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 1,011,827.05 $1,022,521.25
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 891,128.01 $898,283.32
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 295 $26,086.85
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 348,616.25 $360,843.27
12572Q105 CME GROUP INC US CME 5,460 $822,931.20
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 958,183.61 $1,001,799.46
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 671,597.31 $684,223.21
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 374,950.9 $387,125.71
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 181,628.84 $188,004.61
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 114,000 $115,835.40
127097103 CABOT OIL & GAS CORP US COG 265,020 $4,714,705.80
133131102 CAMDEN PROPERTY TRUST US CPT 1,881 $173,503.44
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,378,000 $2,567,246.61
13321L108 CAMECO CORP CA CCJ 204,560 $1,945,365.60
14174T107 CARETRUST REIT INC US CTRE 3,696 $63,201.60
149123101 CATERPILLAR INC US CAT 607 $95,329.35
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 557,998.08 $560,012.51
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 6,422 $3,877,732.04
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 483,075.66 $484,062.68
166764100 CHEVRON CORP US CVX 9,930 $690,135.00
172062101 CINCINNATI FINANCIAL CORP US CINF 235 $16,623.90
17275R102 CISCO SYSTEMS INC US CSCO 3,487 $125,183.30
172967424 CITIGROUP INC US C 1,824 $75,550.08
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,135,000 $2,463,328.58
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,530,000 $2,505,484.30
191216100 COCA COLA CO/THE US KO 104,951 $5,043,945.06
194162103 COLGATE-PALMOLIVE CO US CL 1,046 $82,518.94
20030N101 COMCAST CORP-CL A US CMCSA 2,643 $111,640.32
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,546,000 $2,830,645.02
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,560,179.54 $1,592,180.85
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,526 $116,953.80
20449X401 COMPASS GROUP PLC ADR GB CMPGY 122,065 $1,684,497.00
205887102 CONAGRA BRAND INC. US CAG 901 $31,616.09
20605P101 CONCHO RESOURCES INC US CXO 60,640 $2,517,166.40
20825C104 CONOCOPHILLIPS US COP 61,733 $1,766,798.46
21036P108 CONSTELLATION BRANDS INC-A US STZ 206 $34,037.38
217204106 COPART INC US CPRT 16,470 $1,817,629.20
222795502 COUSINS PROPERTIES INC US CUZ 8,150 $207,662.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,583,000 $1,617,276.38
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 2,230,000 $2,228,804.50
22822V101 CROWN CASTLE INTL CORP US CCI 1,785 $278,817.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,332,000 $2,505,921.56
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 428,770.4 $439,166.75
229663109 CUBESMART US CUBE 3,875 $131,478.75
231021106 CUMMINS INC US CMI 258 $56,731.62
253868103 DIGITAL REALTY TRUST INC US DLR 2,787 $402,164.10
256746108 DOLLAR TREE STORES INC US DLTR 19,685 $1,777,949.20
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 1,607,000 $1,812,988.97
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 90,000 $94,275.00
25960P109 DOUGLAS EMMETT INC US DEI 5,291 $124,867.60
260003108 DOVER CORP US DOV 202 $22,363.42
262006208 DREYFUS GVT CSH MANAGEMENT US 9,591,358.15 $9,591,358.15
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 129,000 $147,060.00
264411505 DUKE RLTY INVTS INC US DRE 4,734 $179,844.66
26875P101 EOG RESOURCES INC US EOG 50,608 $1,732,817.92
26884L109 EQT CORP US EQT 131,518 $1,991,182.52
26884LAG4 EQT CORP 8.75000 02/01/2030 US 85,000 $105,612.50
2715777 QUEBECOR INC -CL B CA QBR/B CN 15,570 $361,231.48
27579R104 EAST WEST BANCORP INC US EWBC 56,050 $2,044,704.00
285512109 ELECTRONIC ARTS US EA 14,323 $1,716,325.09
291011104 EMERSON ELEC CO US EMR 887 $57,468.73
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,728,000 $2,909,624.89
29444U700 EQUINIX INC US EQIX 5,142 $3,760,036.08
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 3,500 $207,165.00
29476L107 EQUITY RESIDENTIAL US EQR 1,361 $63,939.78
297178105 ESSEX PROPERTY TRUST INC US ESS 276 $56,466.84
30212P303 EXPEDIA INC US EXPE 61,350 $5,776,102.50
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 1,129,000 $1,241,524.80
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 4,250,000 $4,264,497.47
30225T102 EXTRA SPACE STORAGE INC US EXR 675 $78,266.25
30231G102 EXXON MOBIL CORP US XOM 41,680 $1,359,601.60
302491303 FMC CORP US FMC 16,994 $1,745,963.56
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 133,000 $118,702.50
30287EAE0 FREMF 2014-K41 B FLT 3.83288 11/25/2047 US 48,000 $52,603.77
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 144,052,804.52 $250,046.86
30303M102 FACEBOOK INC -A US FB 12,916 $3,398,328.76
311900104 FASTENAL CO US FAST 1,000 $43,230.00
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 961.86 $1,119.47
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 146,349.12 $171,079.19
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 161,927.09 $190,661.89
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 12,733.59 $14,755.26
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 13,539.02 $15,661.37
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 174,254.27 $202,577.25
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 78,061.92 $91,568.18
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 94,320.82 $111,082.72
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 4,148.87 $4,302.79
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 6,254.53 $6,358.23
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 4,493.57 $4,583.08
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 4,723.71 $4,874.35
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 7,294.37 $7,516.46
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 167,087.14 $180,867.09
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 217,801.73 $252,400.25
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 637,449.39 $702,943.09
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 10,011.44 $11,040.26
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 12,906.32 $14,232.50
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,045,050.2 $1,173,891.52
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 362,932 $384,738.00
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 3,500,000 $3,652,180.88
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 196,461.53 $214,999.73
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 410,555.84 $444,608.33
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 9,005,000 $8,948,953.33
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 1,475,211.98 $1,591,941.82
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 509,097.16 $526,939.23
3137ADTK3 FHMS K014 X1 FLT 1.15276 04/25/2021 US 7,173,637.57 $17,627.06
3137AJMG6 FMHS K016 X1 FLT 1.48091 10/25/2021 US 4,801,524.21 $36,483.90
3137AME78 FHMS K017 X1 FLT 1.28576 12/25/2021 US 7,695,755.4 $68,720.02
3137AUPF0 FHMS K021 x1 FLT 1.40799 06/25/2022 US 11,176,311.63 $191,194.28
3137B3NB0 FHMS K030 X1 FLT 0.17200 04/25/2023 US 57,689,292.51 $216,807.90
3137B4GZ3 FHMS K032 X1 FLT 0.09033 05/25/2023 US 36,514,471.08 $95,766.50
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 532,196.32 $541,697.89
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 278,263.65 $282,068.91
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 594,643.98 $697,924.64
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 397,864.5 $467,938.19
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 191,869.41 $215,394.12
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 1,561,859.74 $1,836,297.04
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 625,441.09 $688,217.43
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 393,003.21 $460,311.87
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 458,327.75 $498,958.73
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 123,068.3 $131,317.51
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 187,870.3 $204,639.88
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 3,011.69 $3,047.94
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 4,247.54 $4,303.93
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 14,451.4 $14,548.87
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 16,491.87 $16,603.29
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 301,665.91 $354,746.70
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 640,739.86 $755,457.12
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 76.4 $76.69
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 8,011.79 $8,063.44
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31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 447,903.01 $493,826.76
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31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,206,626.84 $1,278,902.32
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31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 8,987.94 $10,451.79
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316773100 FIFTH THIRD BANCORP US FITB 1,200 $27,864.00
32054K103 FIRST INDUSTRIAL REALTY TR US FR 4,316 $171,819.96
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 155,000 $155,000.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,541,000 $1,584,409.82
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 200,000 $201,500.00
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 98,000 $97,286.56
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 103,000 $101,476.63
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 98,000 $104,247.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 119,000 $124,355.00
35563BAJ9 FREMF 2014-K37 B FLT 4.55959 01/25/2047 US 1,977,000 $2,179,539.30
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 155,000 $153,450.00
36257MAA3 GSMS 2019-70P A 1.14838 10/15/2036 US 1,342,000 $1,288,135.61
369550108 GENERAL DYNAMICS CORP US GD 351 $46,096.83
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 2,321,000 $1,880,010.00
370334104 GENERAL MLS INC US GIS 898 $53,089.76
372460105 GENUINE PARTS CO US GPC 297 $26,857.71
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 155,000 $161,587.50
374297109 GETTY REALTY CORP US GTY 4,432 $116,472.96
375558103 GILEAD SCIENCES INC US GILD 1,311 $76,234.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 200,000 $202,594.00
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,633,625.31 $1,632,751.81
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,466,804.99 $1,532,277.44
384802104 WW GRAINGER INC US GWW 74 $25,901.48
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 251,315 $3,339,976.35
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,239 $103,060.02
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 864 $99,662.40
4012250 AIRBUS SE FR AIR FP 1,570 $114,870.37
4031976 ADIDAS AG DE ADS GR 700 $207,972.86
404119BX6 HCA INC 4.12500 06/15/2029 US 1,617,000 $1,834,996.65
416515104 HARTFORD FINL SVCS US HIG 622 $23,959.44
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 103,000 $102,871.25
421946104 HEALTHCARE REALTY TRUST INC US HR 3,928 $109,198.40
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 5,920 $143,856.00
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 9,826 $265,007.22
423012301 HEINEKEN NV-SPN ADR NL HEINY 38,825 $1,730,042.00
427866108 HERSHEY CO/THE US HSY 311 $42,750.06
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 90,000 $97,762.50
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 24,193 $2,124,387.33
437076102 HOME DEPOT INC US HD 838 $223,502.98
438516106 HONEYWELL INTERNATIONAL INC US HON 677 $111,671.15
440452100 HORMEL FOODS CORP US HRL 627 $30,528.63
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 155,000 $172,437.50
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 120,000 $122,700.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 98,000 $105,033.95
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 120,000 $120,096.00
452308109 ILLINOIS TOOL WKS INC US ITW 394 $77,176.72
45337C102 INCYTE CORP US INCY 13,040 $1,129,785.60
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 109,000 $107,092.50
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 155,000 $153,450.00
45778Q107 INSPERITY INC US NSP 24,260 $1,857,830.80
458140100 INTEL CORP US INTC 3,110 $137,710.80
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 17,979 $919,446.06
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 37,070 $3,499,408.00
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 872 $97,367.52
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 149 $15,296.34
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 208,000 $219,440.00
46187BAA1 IHSFR 2017-SFR2 A 0.99725 12/17/2036 US 582,936 $581,682.80
46187BAB9 IHSFR 2017-SFR2 B 1.29725 12/17/2036 US 477,000 $476,852.51
46187W107 INVITATION HOMES INC US INVH 12,801 $348,955.26
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 109,000 $108,517.13
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 720,000 $752,699.68
46625H100 JP MORGAN CHASE & CO US JPM 1,946 $190,785.84
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 345,160.01 $351,500.05
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 382,314.48 $399,697.71
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 593,388.31 $605,573.78
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 2,838,000 $3,022,321.71
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 269,130.86 $269,931.90
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 43,577.68 $44,805.00
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 401,331.36 $403,383.13
478160104 JOHNSON & JOHNSON US JNJ 37,820 $5,185,500.20
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 433,000 $14,072.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 83,000 $88,938.65
482480100 KLA-TENCOR CORPORATION US KLAC 251 $49,492.18
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 160,000 $172,000.00
49427F108 KILROY REALTY CORP US KRC 4,145 $195,146.60
494368103 KIMBERLY CLARK CORP US KMB 445 $59,002.55
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,299,000 $2,961,828.21
501044101 KROGER CO US KR 1,301 $41,905.21
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 155,000 $141,437.50
5107401 BEIERSDORF AG DE BEI GR 2,045 $214,129.89
512816109 LAMAR ADVERTISING CO-A US LAMR 1,450 $89,842.00
53223X107 LIFE STORAGE INC US LSI 1,399 $159,695.85
532457108 ELI LILLY & CO US LLY 630 $82,189.80
539830109 LOCKHEED MARTIN CORP US LMT 275 $96,285.75
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 88,000 $89,210.00
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 176,000 $23,320.00
550021109 LULULEMON - ADR CA LULU 468 $149,427.72
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 45,000 $43,056.90
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 155,000 $159,262.50
56585A102 MARATHON PETROLEUM CORP US MPC 1,097 $32,361.50
573284106 MARTIN MARIETTA MATERIALS US MLM 4,309 $1,147,702.15
57636Q104 MASTERCARD INC-CLASS A US MA 17,157 $4,952,196.48
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 106,000 $100,700.00
5852842 ACCOR SA FR AC FP 5,555 $141,585.06
58933Y105 MERCK & CO INC US MRK 2,072 $155,835.12
594918104 MICROSOFT CORP US MSFT 19,279 $3,903,419.13
595112103 MICRON TECHNOLOGY INC US MU 95,714 $4,818,242.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,653 $309,419.39
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 66,796 $3,548,203.52
615369105 MOODY'S CORPORATION US MCO 5,338 $1,403,360.20
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 155,000 $77,112.50
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 3,540 $71,283.90
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 98,000 $52,879.82
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 109,000 $229,771.14
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 155,000 $157,325.00
63938EAC8 NAVSL 2014-1 A3 FLT 0.65925 06/25/2031 US 1,367,310.19 $1,323,814.55
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 97,000 $102,335.00
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 258,164.6 $259,105.56
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 1,631,724.99 $1,636,504.48
63942FAB1 NAVSL 2020-1A A1B 1.19925 06/25/2069 US 2,050,000 $2,071,479.49
64032XAA3 NSLT 2012-3A A MTGE FLT 0.84925 02/25/2045 US 345,778.3 $340,583.71
64033GAA9 NSLT 2013-5A A MTGE FLT 0.77925 01/25/2037 US 477,528.53 $470,509.24
64033NAA4 NLST 2014-5A A 0.69925 07/25/2046 US 1,847,260.71 $1,802,952.50
64033QAB5 NSLT 2015-2A A2 0.74925 09/25/2047 US 683,876.37 $670,811.12
64110D104 NETAPP INC US NTAP 405 $17,775.45
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 201,000 $207,265.17
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 471,460.58 $503,594.91
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 596,401.04 $643,949.05
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 673,600.67 $722,973.78
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 685,000 $702,193.50
655844108 NORFOLK SOUTHN CORP US NSC 259 $54,162.08
6642321 NIKON CORP JP 7731 JP 208,400 $1,270,064.92
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 497,000 $4,970.00
66987V109 NOVARTIS AG- REG CH NVS 64,911 $5,068,250.88
670346105 NUCOR CORP US NUE 634 $30,279.84
6742340 SHANDONG WEIGAO CN 1066 HK 156,000 $302,544.68
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 133,000 $130,173.75
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 160,000 $118,400.00
6821506 SONY CORP FIRST SECTION JP 6758 JP 2,000 $166,732.96
68389X105 ORACLE CORP US ORCL 1,942 $108,965.62
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 155,000 $157,325.00
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 115,000 $113,928.59
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,371,000 $1,396,562.71
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 60,000 $62,185.94
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 100,000 $99,200.00
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 95,000 $96,781.25
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 103,000 $97,077.50
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 872,754.86 $918,466.18
693475105 PNC FINANCIAL SERVICES GROUP US PNC 393 $43,968.84
693506107 PPG INDUSTRIES INC US PPG 274 $35,543.28
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 145,000 $152,105.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 125,000 $130,625.00
701094104 PARKER HANNIFIN CORP US PH 167 $34,796.12
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,435 $358,804.71
70450Y103 PAYPAL HOLDINGS INC US PYPL 17,797 $3,312,555.61
7123870 NESTLE SA-REGISTERED CH NESN SW 28,814 $3,240,939.20
713448108 PEPSICO INC US PEP 12,927 $1,723,039.83
717081103 PFIZER INC US PFE 4,543 $161,185.64
71943U104 PHYSICIANS REALTY TRUST US DOC 4,255 $71,739.30
723787107 PIONEER NATURAL RESOURCES CO US PXD 31,040 $2,469,542.40
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 3,325,000 $3,689,003.54
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 145,000 $146,131.00
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 98,000 $99,027.04
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,597,225.59 $1,637,600.26
74340W103 PROLOGIS US PLD 8,613 $854,409.60
74460D109 PUBLIC STORAGE INC US PSA 1,194 $273,509.58
747525103 QUALCOMM INC US QCOM 875 $107,940.00
74834L100 QUEST DIAGNOSTICS INC US DGX 253 $30,901.42
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 195,000 $199,387.50
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,417 $76,971.44
756109104 REALTY INCOME CORP US O 1,506 $87,137.16
7591EP100 REGIONS FINANCIAL CORP. US RF 1,793 $23,846.90
76131D103 RESTAURANT BRANDS INTERN CA QSR 4,941 $256,932.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,001 $185,886.46
7698356 GETINGE AB-B SHS SE GETIB SS 16,430 $321,699.08
773903109 ROCKWELL AUTOMATION INC US ROK 175 $41,496.00
7792559 HEINEKEN NV NL HEIA NA 2,530 $223,948.75
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 28,400 $685,860.00
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 35,714 $2,878,548.40
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $528,147.88
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,810,496.52
78409V104 S&P GLOBAL INC US SPGI 3,646 $1,176,673.58
78410G104 SBA COMMUNICATIONS CORP US SBAC 8,013 $2,326,734.81
78442GQJ8 SLMA 2005-7 A4 FLT 0.36475 10/25/2029 US 1,145,342.13 $1,129,307.34
78442PGC4 SLM CORP 5.12500 04/05/2022 US 227,000 $233,242.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 185,000 $187,312.50
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,879,000 $1,939,207.11
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 138,554.81 $140,405.54
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 57,899.55 $58,192.59
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 178,711.3 $179,426.73
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 3,211,000 $3,772,910.42
79466L302 SALESFORCE.COM US CRM 11,122 $2,583,306.94
806857108 SCHLUMBERGER LTD NL SLB 70,787 $1,057,557.78
81141R100 SEA LTD - ADR SG SE 1,230 $193,971.00
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 1,207,824.52 $1,262,285.09
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 421,174.86 $425,899.09
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 577,379.54 $593,417.64
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 729,185.85 $733,871.60
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 328,830.33 $334,551.91
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 265,040.24 $270,929.94
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 33,008.05 $33,425.84
81762P102 SERVICENOW INC US NOW 3,640 $1,811,154.80
83088M102 SKYWORKS SOLUTIONS INC US SWKS 225 $31,790.25
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,500,000 $2,622,519.25
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 235 $26,367.00
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 290,686.67 $297,058.00
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 1,139,897.53 $1,170,816.68
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 116,090.88 $117,454.83
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 416,649.68 $421,134.25
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 3,287.68 $3,289.92
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,155,993.49
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $949,585.15
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,480,906.13
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 108,000 $119,756.88
85254J102 STAG INDUSTRIAL INC US STAG 3,104 $96,596.48
854502101 STANLEY WORKS/THE US SWK 199 $33,073.80
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 160,000 $155,200.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.61838 11/15/2027 US 1,910,952.51 $1,414,643.75
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $193,781.25
866674104 SUN COMMUNITIES US SUI 2,422 $333,339.86
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 245,792.9 $247,200.97
87105L104 SWITCH INC - A US SWCH 13,567 $190,752.02
871829107 SYSCO CORP US SYY 683 $37,776.73
872540AU3 TJX COS INC 4.50000 04/15/2050 US 1,364,000 $1,806,749.44
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 145,000 $141,918.75
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 128,502.21 $128,803.21
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 62,000 $2,300.20
87901JAF2 TEGNA INC 4.75000 03/15/2026 US 75,000 $77,062.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,070,000 $2,331,180.32
88146M101 TERRENO REALTY CORP US TRNO 2,668 $150,155.04
882508104 TEXAS INSTRUMENTS INC US TXN 878 $126,950.02
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,810 $1,802,587.20
88579Y101 3M CO US MMM 616 $98,535.36
89151E109 TOTAL S A SPONSORED ADR FR TOT 48,788 $1,479,740.04
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,010,496.03 $1,032,543.84
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 804,241.63 $824,318.96
89177EAA7 TPMT 2019-HY1 A1 1.14925 10/25/2048 US 751,383.13 $753,852.85
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 150,000 $139,500.00
89417E109 TRAVELLERS COS INC US TRV 344 $41,524.24
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 1,362,057.71 $1,362,883.25
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,507,452.29 $1,550,311.72
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 58,000 $58,142.41
89832Q109 TRUIST FINANCIAL CORP US TFC 1,748 $73,625.76
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 245,000 $233,362.50
902494103 TYSON FOODS INC -CL A US TSN 526 $30,102.98
902653104 UDR INC US UDR 2,870 $89,658.80
902973304 U.S. BANCORP US USB 1,818 $70,811.10
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,677,430.66
907818108 UNION PAC CORP US UNP 690 $122,261.10
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 95,000 $98,325.00
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $222,502.00
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 10,319,332.8 $12,051,247.37
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,467,000 $4,554,635.83
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 14,333,000 $14,525,599.69
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 17,985,000 $19,373,919.68
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 9,135,000 $9,711,290.06
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 8,487,803.1 $8,970,988.95
918204108 VF CORP US VFC 627 $42,134.40
91913Y100 VALERO ENERGY US VLO 650 $25,096.50
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,242,236.00
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,050,000 $3,728,163.96
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 10,895 $2,270,082.20
92826C839 VISA INC - CLASS A SHARES US V 28,628 $5,201,993.88
92826CAK8 VISA INC 2.70000 04/15/2040 US 2,707,000 $2,895,114.49
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 1,375,000 $1,495,716.92
929160109 VULCAN MATERIALS CO US VMC 12,940 $1,874,229.60
93065PAA9 WBHT 2019-WBM A FLT 1.19838 12/15/2033 US 1,204,000 $1,158,833.99
931142103 WAL MART STORES US WMT 1,744 $241,980.00
94106L109 WASTE MANAGEMENT INC US WM 570 $61,508.70
949746101 WELLS FARGO COMPANY US WFC 3,879 $83,204.55
95040Q104 WELLTOWER INC. US WELL 2,971 $159,750.67
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 115,000 $124,415.63
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 2,217,000 $2,417,168.74
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 347,463.56 $357,522.28
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 3,659 $170,180.09
B02J639 ADMIRAL GROUP PLC GB ADM LN 13,900 $495,173.50
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 18,500 $83,553.73
B1Y47Y7 GERRESHEIMER AG DE GXI GR 2,740 $275,435.94
B1Y9TB3 DANONE FR BN FP 5,016 $278,212.66
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 31,965 $414,107.86
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $165,073.23
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $338,040.95
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $273,167.64
B4YVF56 BRENNTAG AG DE BNR GR 3,610 $230,737.51
B63QM77 NEXON CO LTD JP 3659 JP 158,300 $4,411,965.28
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,749.25
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 3,602 $98,741.18
BD6K457 COMPASS GROUP PLC GB CPG LN 9,915 $135,714.50
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 38,818 $46,956.75
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 200,000 $213,676.40
BHJYC05 INTERCONTINENTAL HOTELS GROUP GB IHG LN 2,915 $148,112.32
BJ2KSG2 AKZO NOBEL NL AKZA NA 2,283 $219,597.14
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $201,214.00
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 64,028 $4,892,101.22
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,405 $64,973.75
BNGN9Z1 FINECOBANK SPA IT FBK IM 36,610 $502,649.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 9,605 $237,140.28
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 21,430 $161,120.53
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 6,540 $140,168.35
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 37,675 $1,948,778.04
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 86,155 $149,136.72
BZ1HM42 ADYEN NV NL ADYEN NA 60 $100,844.30
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 6,908 $182,785.68
G1151C101 ACCENTURE PLC - CL A IE ACN 1,591 $345,103.81
G29183103 EATON CORP PLC US ETN 577 $59,886.83
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,266 $53,437.86
G5494J103 LINDE PLC GB LIN 384 $84,610.56
G5960L103 MEDTRONIC INC IE MDT 22,228 $2,235,469.96
G85158106 STONECO LTD-A BR STNE 4,034 $211,946.36
G8994E103 TRANE TECHNOLOGIES IE TT 294 $39,028.50
G97822103 PERRIGO CO PLC IE PRGO 5,045 $221,324.15
H01301128 ALCON INC CH ALC 86,140 $4,896,197.60
H1467J104 CHUBB LTD CH CB 506 $65,734.46
H2906T109 GARMIN LTD CH GRMN 260 $27,045.20
N53745100 LYONDELLBASELL INDU-CL A US LYB 552 $37,784.40
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $148,120.50
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,779.54

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2020 Distributions Estimates
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • Target 2020 Merger into Pro Blend Moderate
  • Target 2025 Merger into Pro Blend Moderate

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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