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Pro-Blend® Moderate Term Series
Pro-Blend® Moderate Term Series
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.
Daily Price
$11.02
Daily $ Change
-$0.02
Daily % Change
-0.18%
as of 09/16/2021
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 | |
| N-Port Part F Reports |
Performance
As of 08/31/2021
YTD
7.86%
1 Year
13.25%
3 Year
11.08%
5 Year
8.75%
10 Year
7.32%
Inception
(09/15/1993)
7.09%
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 | 0.86% |
| 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 08/31/2021
| TREASURY NOTES | 20.14% |
| GOVERNMENT AGENCY | 3.09% |
| FACEBOOK INC -A | 2.10% |
| AMAZON.COM INC | 2.06% |
| ALPHABET INC-CL A | 1.92% |
| MICROSOFT CORP | 1.37% |
| AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | 1.22% |
| JOHNSON & JOHNSON | 1.19% |
| SBA COMMUNICATIONS CORP | 1.18% |
| VISA INC - CLASS A SHARES | 1.12% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 08/31/2021
| Bonds | 51.98% |
| Stocks | 45.07% |
| Cash | 2.95% |
Detailed Asset Class Allocation
As of 08/31/2021
| International Equities | 11.87% |
| Small Capitalization | 0.85% |
| Mid Capitalization | 4.45% |
| Large Capitalization | 27.89% |
| Long Term Fixed Income | 15.14% |
| Intermediate Term Fixed Income | 32.45% |
| Short Term Fixed Income | 4.40% |
| Cash | 2.95% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
August Fund Holdings
As of 08/31/2021
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00507V109 | ACTIVISION INC | US | ATVI | 20,145 | $1,659,343.65 |
| 008474108 | AGNICO EAGLE MINES LTD | CA | AEM | 26,313 | $1,513,523.76 |
| 008492100 | AGREE REALTY CORP | US | ADC | 2,001 | $149,174.55 |
| 009126202 | AIR LIQUIDE-ADR | FR | AIQUY | 83,671 | $2,998,768.64 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 1,220,000 | $1,318,643.43 | |
| 01166WAA5 | ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 179,490.89 | $202,110.59 | |
| 01609WAU6 | ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 2,440,000 | $2,727,759.35 | |
| 01627AAA6 | ADC 2021-1A A2 1.93700 08/15/2046 | US | 1,800,000 | $1,805,414.04 | |
| 01879NAA3 | ALLIANCE RES OP/FINANCE 7.50000 05/01/2025 | US | 95,000 | $95,731.50 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 441 | $59,658.48 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 3,323 | $9,616,595.85 |
| 023135106 | AMAZON.COM INC | US | AMZN | 2,980 | $10,342,954.20 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 40,716 | $1,957,327.10 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 3,340 | $169,839.00 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 8,846 | $371,001.24 |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 9,611 | $2,808,045.87 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 3,680,000 | $4,106,658.46 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 4,147 | $152,360.78 |
| 032654105 | ANALOG DEVICES INC | US | ADI | 446 | $72,675.70 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 7,784 | $115,047.52 |
| 038923AS7 | ARBOR REALTY TRUST INC 8.00000 04/30/2023 | US | 155,000 | $164,173.25 | |
| 039483102 | ARCHER-DANIELS-MIDLAND CO | US | ADM | 832 | $49,920.00 |
| 044209AM6 | ASHLAND LLC 6.87500 05/15/2043 | US | 20,000 | $25,750.00 | |
| 045054AJ2 | ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 1,220,000 | $1,295,776.76 | |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 469 | $98,039.76 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 1,192 | $273,659.36 |
| 05401AAP6 | AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | KY | 6,110,000 | $6,131,350.72 | |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 36,396 | $890,246.16 |
| 05567SAA0 | BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 1,140,000 | $1,306,713.60 | |
| 05591XAA9 | BRSP 2021-FL1 A 1.23650 08/19/2038 | US | 1,100,000 | $1,099,999.67 | |
| 067901108 | BARRICK GOLD CORP | CA | GOLD | 78,729 | $1,580,091.03 |
| 071734AM9 | BAUSCH HEALTH COS INC 5.00000 02/15/2029 | CA | 155,000 | $144,925.00 | |
| 07403VAA7 | BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 | US | 135,000 | $137,362.50 | |
| 084423102 | WR BERKLEY CORP | US | WRB | 30,071 | $2,264,647.01 |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 6,472 | $1,849,503.44 |
| 086516101 | BEST BUY INC | US | BBY | 424 | $49,400.24 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 42,797 | $3,603,935.37 |
| 09261XAB8 | BLACKSTONE SECURED LEND 2.75000 09/16/2026 | US | 1,300,000 | $1,339,027.20 | |
| 0963318 | DECHRA PHARMACEUTICALS PLC | GB | DPH LN | 4,079 | $293,859.89 |
| 099502106 | BOOZ ALLEN HAMILTON HOLDINGS | US | BAH | 286 | $23,426.26 |
| 10373QBR0 | BP CAP MARKETS AMERICA 3.06000 06/17/2041 | US | 3,340,000 | $3,432,585.90 | |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 9,432 | $130,916.16 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 2,030 | $135,725.80 |
| 11133T103 | BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 209 | $35,993.98 |
| 12345678 | JONAH ENERGY PARENT LLC | US | 5,224 | $78,360.00 | |
| 125269100 | CF INDUSTRIES HOLDINGS INC | US | CF | 466 | $21,165.72 |
| 12530MAA3 | SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 972,507.46 | $991,028.96 | |
| 12530MAB1 | SORT 2020-1 A2 1.99000 07/15/2060 | US | 849,359.71 | $865,566.51 | |
| 12541W209 | C.H. ROBINSON WORLDWIDE INC | US | CHRW | 269 | $24,226.14 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 120,553.34 | $122,121.50 | |
| 12565KAA5 | CLIF 2021-1A A MTGE 1.64000 02/18/2046 | US | 1,947,939.27 | $1,941,552.56 | |
| 12646WAH7 | CSMC 2013-IVR2 A2 3.00000 04/25/2043 | US | 478,340.22 | $488,703.13 | |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 368,686.96 | $372,174.63 | |
| 12647PAK4 | CSMC 2013-7 A6 3.50000 08/25/2043 | US | 198,515.84 | $201,085.57 | |
| 12648TAA7 | CSMC 2014-IVR3 A1 3.50000 07/25/2044 | US | 99,688.48 | $101,678.57 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 1,387 | $208,105.48 |
| 13321L108 | CAMECO CORP | CA | CCJ | 142,188 | $2,633,321.76 |
| 134429109 | CAMPBELL SOUP CO | US | CPB | 574 | $23,953.02 |
| 136375102 | CANADIAN NATIONAL RAILWAY CO | CA | CNI | 29,427 | $3,461,498.01 |
| 14174T107 | CARETRUST REIT INC | US | CTRE | 4,887 | $107,465.13 |
| 149123101 | CATERPILLAR INC | US | CAT | 539 | $113,658.93 |
| 156700BA3 | CENTURYLINK INC 7.50000 04/01/2024 | US | 95,000 | $105,687.50 | |
| 16119P108 | CHARTER COMMUNICATIONS INC-A | US | CHTR | 4,473 | $3,652,920.18 |
| 172062101 | CINCINNATI FINANCIAL CORP | US | CINF | 298 | $36,773.20 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 3,321 | $196,005.42 |
| 172967424 | CITIGROUP INC | US | C | 1,814 | $130,444.74 |
| 172967KA8 | CITIGROUP INCA 4.45000 09/29/2027 | US | 2,135,000 | $2,444,171.31 | |
| 17329PAY8 | CMLTI 2021-INV1 2.50000 05/25/2051 | US | 741,896.89 | $760,773.71 | |
| 180848P56 | CLARK CNTY NV 1.51000 11/01/2028 | US | 2,530,000 | $2,537,590.00 | |
| 189054109 | CLOROX COMPANY | US | CLX | 203 | $34,114.15 |
| 191216100 | COCA COLA CO/THE | US | KO | 61,196 | $3,445,946.76 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 992 | $77,326.40 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 3,447 | $209,163.96 |
| 200340107 | COMERICA INC | US | CMA | 286 | $21,138.26 |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 980,669.71 | $1,005,099.96 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 4,096 | $198,696.96 |
| 205887102 | CONAGRA BRAND INC. | US | CAG | 886 | $29,344.32 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 32,470 | $1,803,059.10 |
| 21240E105 | CONTROLADORA VUELA CIA DE AV | MX | VLRS | 9,005 | $178,929.35 |
| 217204106 | COPART INC | US | CPRT | 13,149 | $1,897,663.68 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 7,283 | $280,832.48 |
| 22534GAA1 | CAALT 2020-1A 2.01000 02/15/2029 | US | 1,583,000 | $1,607,419.52 | |
| 22536BAA0 | CAALT 2020-3A A 1.24000 10/15/2029 | US | 2,230,000 | $2,253,201.37 | |
| 22537CAA7 | CAALT 2021-2A A 0.96000 02/15/2030 | US | 1,800,000 | $1,808,062.74 | |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 2,332,000 | $2,486,898.83 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 227,888.04 | $230,981.78 | |
| 231021106 | CUMMINS INC | US | CMI | 223 | $52,623.54 |
| 2491914 | KIMBERLY CLARK DE MEXICO S.A.B. | MX | 141,300 | $250,743.48 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 2,226 | $364,863.66 |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 9,538 | $2,126,115.58 |
| 256746108 | DOLLAR TREE STORES INC | US | DLTR | 17,064 | $1,544,974.56 |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 3,526 | $116,393.26 |
| 26150TAE9 | DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 | US | 250,000 | $258,730.26 | |
| 264411505 | DUKE RLTY INVTS INC | US | DRE | 6,979 | $366,467.29 |
| 267475AD3 | DYCOM INDUSTRIES INC 4.50000 04/15/2029 | US | 150,000 | $154,125.00 | |
| 26875P101 | EOG RESOURCES INC | US | EOG | 26,441 | $1,785,296.32 |
| 26884L109 | EQT CORP | US | EQT | 111,467 | $2,043,190.11 |
| 277432100 | EASTMAN CHEM CO | US | EMN | 256 | $28,968.96 |
| 285512109 | ELECTRONIC ARTS | US | EA | 12,644 | $1,836,035.24 |
| 291011104 | EMERSON ELEC CO | US | EMR | 796 | $83,978.00 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 2,728,000 | $3,567,110.54 | |
| 29278MAC9 | ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 | US | 60,000 | $61,644.60 | |
| 29444U700 | EQUINIX INC | US | EQIX | 3,485 | $2,939,423.25 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 3,750 | $319,012.50 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 833 | $275,506.42 |
| 30212P303 | EXPEDIA INC | US | EXPE | 28,068 | $4,055,826.00 |
| 30212PBK0 | EXPEDIA GROUP INC 4.62500 08/01/2027 | US | 1,170,000 | $1,323,354.31 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 1,261 | $235,693.51 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 25,569 | $1,394,021.88 |
| 302491303 | FMC CORP | US | FMC | 43,366 | $4,060,358.58 |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 495,000 | $514,181.25 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96407 11/25/2047 | US | 48,000 | $52,073.51 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 140,416,889 | $136,400.97 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 27,724 | $10,517,931.12 |
| 3128M5NM8 | FHLM POOL G03696 5.50000 01/01/2038 | US | 768.54 | $895.55 | |
| 3128M5RA0 | FHLM POOL G03781 6.00000 01/01/2038 | US | 101,885 | $119,621.01 | |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 124,401.68 | $147,337.56 | |
| 3128M6NC8 | FHLM POOL G04587 5.50000 08/01/2038 | US | 9,958.96 | $11,599.17 | |
| 3128M6NS3 | FHLM POOL G04601 5.50000 07/01/2038 | US | 11,987.66 | $13,961.02 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 134,456.01 | $156,667.12 | |
| 3128M73H7 | FHLM POOL G05900 6.00000 03/01/2040 | US | 59,491.4 | $69,484.55 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 81,609.01 | $96,787.17 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 1,745.52 | $1,791.76 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 803.06 | $805.75 | |
| 3128MBE45 | FHLM POOL G12655 6.00000 05/01/2022 | US | 723.26 | $726.60 | |
| 3128MBRH2 | FHLM POOL G12988 6.00000 01/01/2023 | US | 1,688.16 | $1,719.29 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 2,344.8 | $2,386.37 | |
| 3128MJ2E9 | FHLM POOL FG 08772 4.50000 07/01/2047 | US | 100,400.54 | $109,299.72 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 163,847.01 | $190,942.34 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 430,854.33 | $472,193.51 | |
| 3128P76G3 | FHLM POOL C91771 4.50000 06/01/2034 | US | 6,540.8 | $7,164.12 | |
| 3128P76R9 | FHLM POOL C91780 4.50000 07/01/2034 | US | 10,724.31 | $11,775.28 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 800,585.98 | $897,504.31 | |
| 3132A5H40 | FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 | US | 194,210.74 | $206,049.73 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 323,623.71 | $352,380.40 | |
| 3133KYU98 | FHLM POOL RB5108 2.00000 04/01/2041 | US | 1,947,960.22 | $1,997,201.93 | |
| 3136AY6W8 | FNA 2017-M15 A1 FLT 3.05792 09/25/2027 | US | 1,365,440.44 | $1,458,301.31 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 148,630.5 | $152,270.30 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.59940 10/25/2021 | US | 1,391,820.94 | $13.92 | |
| 3137AME78 | FHMS K017 X1 FLT 1.54998 12/25/2021 | US | 3,548,848.22 | $35.49 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.50845 06/25/2022 | US | 10,612,560.09 | $54,604.81 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.26124 04/25/2023 | US | 54,997,275.2 | $114,234.84 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.19743 05/25/2023 | US | 35,348,990.29 | $57,463.32 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 473,034.41 | $559,508.51 | |
| 3138EHXZ0 | FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 | US | 329,751.41 | $390,528.40 | |
| 3138EP2A1 | FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 | US | 137,023.19 | $152,811.96 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.66100 01/01/2049 | US | 1,211,272.51 | $1,361,722.50 | |
| 3138Y6Y81 | FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 | US | 508,437.92 | $560,781.59 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 306,612.72 | $355,690.96 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 337,210.71 | $367,092.42 | |
| 3140F8RB5 | FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 | US | 84,827.54 | $90,772.56 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 80,613.31 | $87,865.16 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 18.32 | $18.34 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 142.83 | $142.99 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 259.69 | $261.35 | |
| 31410KJV7 | FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 | US | 236,271.07 | $280,292.42 | |
| 31416BRR1 | FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 | US | 514,383.9 | $611,251.76 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 230.3 | $230.75 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 414,165.4 | $462,528.36 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 355,904.28 | $390,690.57 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 348,077.17 | $382,106.29 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 489,746.09 | $520,543.11 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 674,228.05 | $715,072.66 | |
| 31418DU59 | FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 | US | 3,066,666.58 | $3,192,308.00 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 26,889.5 | $31,953.24 | |
| 31418MGR7 | FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 87,396.69 | $103,857.92 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 7,208.49 | $8,398.53 | |
| 31418MQQ8 | FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 5,239.34 | $5,465.42 | |
| 31620R303 | FNF GROUP | US | FNF | 599 | $29,249.17 |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 1,112 | $43,212.32 |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 1,541,000 | $1,619,750.80 | |
| 345370CW8 | FORD MOTOR COMPANY 9.00000 04/22/2025 | US | 165,000 | $201,580.50 | |
| 346232AF8 | FORESTAR GROUP INC 3.85000 05/15/2026 | US | 100,000 | $100,750.00 | |
| 35563BAJ9 | FREMF 2014-K37 B FLT 4.71532 01/25/2047 | US | 1,977,000 | $2,142,333.94 | |
| 36257MAA3 | GSMS 2019-70P A 1.09600 10/15/2036 | US | 1,342,000 | $1,342,016.24 | |
| 36262LAJ9 | GSMBS 2021-PJ6 A8 2.50000 11/25/2051 | US | 1,136,858.98 | $1,165,902.32 | |
| 36263KAJ0 | GSMBS 2021-INV1 A9 0.90000 12/25/2051 | US | 1,370,000 | $1,369,899.58 | |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 360 | $72,111.60 |
| 369604BQ5 | GENERAL ELECTRIC CO 3.44888 01/21/2099 | US | 2,321,000 | $2,251,370.09 | |
| 370334104 | GENERAL MLS INC | US | GIS | 867 | $50,121.27 |
| 372460105 | GENUINE PARTS CO | US | GPC | 272 | $33,235.68 |
| 374297109 | GETTY REALTY CORP | US | GTY | 4,197 | $132,751.11 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,378 | $100,290.84 |
| 38217TAA3 | GOODG 2020-1A MTGE 2.63000 04/15/2055 | US | 1,454,456.64 | $1,490,545.64 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 1,277,536.11 | $1,323,643.54 | |
| 384802104 | WW GRAINGER INC | US | GWW | 88 | $38,165.60 |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 226,033 | $4,638,197.16 |
| 400506101 | GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 850 | $98,948.50 |
| 40051E202 | GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 544 | $97,256.32 |
| 4012250 | AIRBUS SE | FR | AIR FP | 897 | $122,706.14 |
| 4031976 | ADIDAS AG | DE | ADS GR | 435 | $154,316.17 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 1,617,000 | $1,829,828.12 | |
| 416515104 | HARTFORD FINL SVCS | US | HIG | 575 | $38,651.50 |
| 419792A22 | HAWAII ST 2.68200 10/01/2030 | US | 1,835,000 | $1,887,352.55 | |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 4,752 | $144,128.16 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 5,254 | $189,144.00 |
| 423012301 | HEINEKEN NV-SPN ADR | NL | HEINY | 34,865 | $1,906,766.85 |
| 427866108 | HERSHEY CO/THE | US | HSY | 308 | $54,731.60 |
| 42806MAA7 | HERTZ 2021-1A A 1.21000 12/26/2025 | US | 1,600,000 | $1,608,826.40 | |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 981 | $122,487.66 |
| 437076102 | HOME DEPOT INC | US | HD | 731 | $238,437.58 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 617 | $143,088.47 |
| 44267DAE7 | HOWARD HUGHES CORP 4.12500 02/01/2029 | US | 155,000 | $155,775.00 | |
| 443510607 | HUBBELL INC | US | HUBB | 117 | $24,114.87 |
| 446150104 | HUNTINGTON BANCSHARES | US | HBAN | 1,877 | $29,149.81 |
| 448579102 | HYATT HOTEL | US | H | 23,825 | $1,753,281.75 |
| 44988FAC4 | IIP OPERATING PARTNER 5.50000 05/25/2026 | US | 200,000 | $210,013.29 | |
| 450913AF5 | IAMGOLD CORP 5.75000 10/15/2028 | CA | 155,000 | $154,418.75 | |
| 451102BZ9 | ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 | US | 145,000 | $150,611.50 | |
| 45168D104 | IDEXX LABORATORIES INC | US | IDXX | 2,811 | $1,893,939.36 |
| 4519579 | KERRY GROUP PLC-A | IE | KYG ID | 1,141 | $167,326.68 |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 368 | $85,692.48 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 155,000 | $165,426.85 | |
| 45778Q107 | INSPERITY INC | US | NSP | 21,736 | $2,398,350.24 |
| 45781V101 | INNOVATIVE INDUSTRIAL PROPER | US | IIPR | 600 | $147,546.00 |
| 458140100 | INTEL CORP | US | INTC | 3,004 | $162,396.24 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 32,969 | $3,940,784.57 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 861 | $120,832.74 |
| 459506101 | INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 358 | $54,237.00 |
| 46116VAE5 | INTL FC STORE INC 8.62500 06/15/2025 | US | 140,000 | $151,480.00 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 0.94300 12/17/2036 | US | 192,983.9 | $193,164.65 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 1.24300 12/17/2036 | US | 159,941.93 | $160,076.59 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 11,503 | $473,693.54 |
| 464288620 | ISHARES BROAD USD INVESTMENT 1.50100 | US | 64,425 | $3,929,925.00 | |
| 465410BX5 | ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 380,000 | $395,384.68 | |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 1,473 | $235,606.35 |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 182,141.34 | $184,475.77 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 167,261.46 | $169,682.29 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 408,075.43 | $416,473.17 | |
| 46647PBP0 | JPMORGAN CHASE & CO 2.95600 05/13/2031 | US | 3,250,000 | $3,433,591.04 | |
| 46648HAC7 | JPMMT 2017-2 A3 3.50000 05/25/2047 | US | 20,814.5 | $21,146.81 | |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 34,409 | $5,957,230.17 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 2,687 | $176,401.55 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 438 | $60,360.78 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 2,299,000 | $3,288,916.27 | |
| 500754106 | KRAFT HEINZ CO/THE | US | KHC | 1,570 | $56,504.30 |
| 501044101 | KROGER CO | US | KR | 1,228 | $56,524.84 |
| 502431109 | L3HARRIS TECHNOLOGIES INC | US | LHX | 275 | $64,077.75 |
| 5107401 | BEIERSDORF AG | DE | BEI GR | 2,045 | $248,189.49 |
| 512816109 | LAMAR ADVERTISING CO-A | US | LAMR | 825 | $93,909.75 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 1,243 | $154,678.92 |
| 539473AE8 | LLOYDS BANK PLC 12.00000 12/16/2024 | GB | 480,000 | $507,000.00 | |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 281 | $101,103.80 |
| 550021109 | LULULEMON - ADR | CA | LULU | 424 | $169,672.08 |
| 55616XAM9 | MACY'S RETAIL HLDGS LLC 4.50000 12/15/2034 | US | 105,000 | $102,765.08 | |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 14,592 | $5,052,188.16 |
| 5852842 | ACCOR SA | FR | AC FP | 3,787 | $130,592.63 |
| 58933Y105 | MERCK & CO INC | US | MRK | 2,061 | $157,233.69 |
| 59022CAJ2 | MERRILL LYNCH 6.11000 01/29/2037 | US | 1,550,000 | $2,132,041.62 | |
| 594918104 | MICROSOFT CORP | US | MSFT | 22,841 | $6,895,241.08 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 1,982 | $381,277.34 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 66,747 | $4,142,986.29 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 10,208 | $3,886,900.16 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 155,000 | $132,427.35 | |
| 620076307 | MOTOROLA SOLUTIONS INC | US | MSI | 245 | $59,833.90 |
| 6321954 | TRAVELSKY TECHNOLOGY LTD-H | CN | 696 HK | 160,000 | $299,718.76 |
| 63938CAH1 | NAVIENT CORP 6.75000 06/25/2025 | US | 475,000 | $529,625.00 | |
| 63938EAC8 | NAVSL 2014-1 A3 FLT 0.59438 06/25/2031 | US | 1,234,746.56 | $1,206,882.65 | |
| 63941XAA5 | NAVSL 2020-FA A 1.22000 07/15/2069 | US | 966,270.16 | $972,891.53 | |
| 63942FAB1 | NAVSL 2020-1A A1B 1.13438 06/25/2069 | US | 1,867,998.94 | $1,895,238.47 | |
| 64032XAA3 | NSLT 2012-3A A MTGE FLT 0.78438 02/25/2045 | US | 314,501.11 | $313,060.85 | |
| 64033GAA9 | NSLT 2013-5A A MTGE FLT 0.71438 01/25/2037 | US | 439,571.41 | $440,573.02 | |
| 64033NAA4 | NLST 2014-5A A 0.63438 07/25/2046 | US | 1,657,562.81 | $1,650,900.90 | |
| 64033QAB5 | NSLT 2015-2A A2 0.68438 09/25/2047 | US | 620,009.85 | $622,023.39 | |
| 64110D104 | NETAPP INC | US | NTAP | 415 | $36,905.95 |
| 644393AA8 | NEW FORTRESS ENERGY INC 6.75000 09/15/2025 | US | 145,000 | $147,175.00 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 378,345 | $402,511.56 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 457,863.23 | $484,542.60 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 537,181.51 | $576,756.85 | |
| 6490995 | KEYENCE CORP | JP | 6861 JP | 300 | $180,100.02 |
| 64971XPG7 | NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 | US | 685,000 | $705,597.95 | |
| 65106WAA3 | NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 1,280,000 | $1,335,378.65 | |
| 651639106 | NEWMONT GOLDCORP CORP | US | NEM | 30,688 | $1,779,597.12 |
| 65341D102 | NEXPOINT RESIDENTIAL | US | NXRT | 1,939.79 | $125,678.81 |
| 655844108 | NORFOLK SOUTHN CORP | US | NSC | 6,711 | $1,701,506.94 |
| 6642321 | NIKON CORP | JP | 7731 JP | 165,400 | $1,738,384.90 |
| 666807102 | NORTHROP GRUMMAN CORP | US | NOC | 204 | $75,010.80 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 497,000 | $49.70 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 44,752 | $4,134,637.28 |
| 670346105 | NUCOR CORP | US | NUE | 535 | $62,894.60 |
| 67066G104 | NVIDIA CORP | US | NVDA | 10,047 | $2,249,020.95 |
| 67421QAA0 | OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 | US | 150,000 | $155,250.00 | |
| 6742340 | SHANDONG WEIGAO | CN | 1066 HK | 128,000 | $210,615.29 |
| 681919106 | OMNICOM GROUP | US | OMC | 398 | $29,141.56 |
| 6821506 | SONY CORP FIRST SECTION | JP | 6758 JP | 4,800 | $496,297.83 |
| 68389X105 | ORACLE CORP | US | ORCL | 2,320 | $206,781.60 |
| 68622V106 | ORGANNON & CO | US | OGN | 206 | $6,981.34 |
| 691205AE8 | OWL ROCK TECHNOLOGY 3.75000 06/17/2026 | US | 1,290,000 | $1,369,822.97 | |
| 69144AAA7 | OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 1,371,000 | $1,408,442.56 | |
| 69145AAB4 | OXFIN 2019-1A A2 4.45900 02/15/2027 | US | 49,650.55 | $51,125.21 | |
| 693456AW5 | PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 418,793.75 | $426,060.20 | |
| 69354NAC0 | PRA GROUP INC 7.37500 09/01/2025 | US | 145,000 | $154,787.50 | |
| 695156109 | PACKAGING CORP OF AMERICA | US | PKG | 191 | $28,974.70 |
| 7021963 | DEUTSCHE BOERSE AG | DE | DB1 GR | 2,435 | $419,932.49 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 15,352 | $4,431,508.32 |
| 70789PAA2 | PENN VIRGINIA ESC LLC 9.25000 08/15/2026 | US | 150,000 | $145,875.00 | |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 27,704 | $3,498,706.38 |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 190,000 | $205,549.13 | |
| 742718109 | PROCTER & GAMBLE CO | US | PG | 1,656 | $235,797.84 |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 1,593,839.99 | $1,618,360.90 | |
| 74340W103 | PROLOGIS | US | PLD | 8,678 | $1,168,579.48 |
| 74387VAA7 | PFMT 2021 -INV1 A1 2.50000 08/25/2051 | US | 2,093,619.72 | $2,148,986.12 | |
| 74388JAD7 | PFMT 2021-2 A2A 2.00000 04/25/2051 | US | 1,383,799.07 | $1,401,961.43 | |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 1,672 | $541,075.92 |
| 747525103 | QUALCOMM INC | US | QCOM | 991 | $145,369.79 |
| 74834L100 | QUEST DIAGNOSTICS INC | US | DGX | 245 | $37,443.35 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 265 | $21,806.85 |
| 750481103 | RADIUS GLOBAL INFRASTRUCTURE | US | RADI | 15,169 | $271,221.72 |
| 75134P402 | RAMACO RESOURCES INC | US | 20,500 | $551,655.00 | |
| 756109104 | REALTY INCOME CORP | US | O | 1,060 | $76,553.20 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,642 | $33,546.06 |
| 759509102 | RELIANCE STEEL & ALUMINUM | US | RS | 139 | $20,855.56 |
| 760759100 | REPUBLIC SERVICES INC | US | RSG | 471 | $58,465.23 |
| 76131D103 | RESTAURANT BRANDS INTERN | CA | QSR | 2,711 | $174,073.31 |
| 76169C100 | REXFORD INDUSTRIAL REALITY IN | US | REXR | 4,335 | $268,466.55 |
| 7698356 | GETINGE AB-B SHS | SE | GETIB SS | 8,127 | $333,570.87 |
| 7792559 | HEINEKEN NV | NL | HEIA NA | 1,939 | $212,363.28 |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 15,820 | $622,833.40 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 19,024 | $2,048,884.80 |
| 78403DAP5 | SBA TOWER TRUST 1.88400 01/15/2026 | US | 520,000 | $529,245.24 | |
| 78403DAR1 | SBA TOWER TRUST 2.32800 01/15/2028 | US | 1,800,000 | $1,851,263.64 | |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 3,646 | $1,618,167.72 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 16,486 | $5,917,979.42 |
| 78442FAZ1 | SLM CORP 5.62500 08/01/2033 | US | 105,000 | $101,718.75 | |
| 78442GQJ8 | SLMA 2005-7 A4 FLT 0.27525 10/25/2029 | US | 915,722.53 | $911,723.94 | |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 125,000 | $126,562.50 | |
| 78449UAB4 | SMB 2020-A A2A MTGE 2.23000 09/15/2037 | US | 1,879,000 | $1,933,727.57 | |
| 78470RAC1 | SOFI 2016-E A2B 2.49000 01/25/2036 | US | 50,564.19 | $50,959.42 | |
| 78471DAA5 | SCLP 2016-1 A 3.26000 08/25/2025 | US | 12,626.77 | $12,651.14 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 3,211,000 | $3,791,018.02 | |
| 79466L302 | SALESFORCE.COM | US | CRM | 8,126 | $2,155,584.02 |
| 81141R100 | SEA LTD - ADR | SG | SE | 14,724 | $4,981,423.68 |
| 81181C104 | SEAGEN INC | US | SGEN | 23,313 | $3,907,258.80 |
| 81745BAB1 | SEMT 2013-6 A2 3.00000 05/25/2043 | US | 685,206.67 | $691,965.62 | |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 226,341.29 | $228,719.12 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 272,085.93 | $274,969.99 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 402,557.84 | $404,665.67 | |
| 81746FAU9 | SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 | US | 146,461.89 | $148,693.60 | |
| 81748MAA6 | SEMT 2020-1 A1 3.50000 02/25/2050 | US | 122,409.32 | $124,831.20 | |
| 81748MAD0 | SEMT 2020-1 A4 3.50000 02/25/2050 | US | 4,481.86 | $4,489.00 | |
| 81762P102 | SERVICENOW INC | US | NOW | 3,640 | $2,342,849.60 |
| 82967NBJ6 | SIRIUS XM RADIO INC 4.00000 07/15/2028 | US | 100,000 | $102,470.00 | |
| 831865209 | SMITH (A.O.) CORP | US | AOS | 341 | $24,797.52 |
| 83192CAB3 | SMB 2019-B A2A 2.84000 06/15/2037 | US | 2,130,314.98 | $2,225,796.55 | |
| 832696405 | JM SMUCKER CO/THE-NEW COM WI | US | SJM | 218 | $26,960.06 |
| 833034101 | SNAP-ON INC | US | SNA | 108 | $24,294.60 |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 171,785.1 | $175,818.17 | |
| 83404RAB4 | SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 670,129.99 | $687,614.02 | |
| 83405TAA1 | SCLP 2019-3 A MTGE 2.90000 05/25/2028 | US | 16,287 | $16,321.42 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 9,368.52 | $9,380.95 | |
| 83406TAB8 | SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 | US | 1,126,000 | $1,161,912.42 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SONY | 17,348 | $1,794,824.08 |
| 837151XH7 | SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 | US | 955,000 | $990,172.65 | |
| 844741BJ6 | SOUTHWEST AIRLINES CO 5.25000 05/04/2025 | US | 2,237,000 | $2,535,582.34 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 1.56550 11/15/2027 | US | 1,910,952.51 | $1,275,560.80 | |
| 858119100 | STEEL DYNAMICS INC | US | STLD | 442 | $29,830.58 |
| 861036AA9 | STL HOLDING CO LLC 7.50000 02/15/2026 | US | 195,000 | $206,700.00 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 2,446 | $492,844.54 |
| 86935CAA0 | SCML 2019-SBC8 2.86000 04/25/2041 | US | 212,369.3 | $213,565.62 | |
| 87105L104 | SWITCH INC - A | US | SWCH | 16,798 | $416,758.38 |
| 87157B301 | SYNCHRONOSS TECH 8.37500 06/30/2026 | US | 4,110 | $103,161.00 | |
| 87267CAA6 | TRP 2021-1 A MTGE 2.07000 06/19/2051 | US | 1,495,904.07 | $1,497,562.88 | |
| 87356LAA8 | TACORA RESOURCES INC 8.25000 05/15/2026 | CA | 195,000 | $203,342.10 | |
| 874039100 | TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 1,368 | $162,805.68 |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 4,415,000 | $4,896,235.22 | |
| 88146M101 | TERRENO REALTY CORP | US | TRNO | 2,083 | $139,165.23 |
| 883556102 | THERMO FISHER SCIENTIFIC INC | US | TMO | 3,810 | $2,114,359.50 |
| 88579Y101 | 3M CO | US | MMM | 572 | $111,391.28 |
| 89151E109 | TOTALENERGIES SE SPON ADR | FR | TTE | 20,886 | $925,040.94 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 633,305.19 | $642,810.47 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 461,747.15 | $468,315.83 | |
| 89177EAA7 | TPMT 2019-HY1 A1 1.08438 10/25/2048 | US | 534,408.16 | $537,624.44 | |
| 89417E109 | TRAVELLERS COS INC | US | TRV | 358 | $57,176.18 |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 1,489,585.34 | $1,517,066.40 | |
| 89613GAA4 | TAH 2020-SFR1 A 1.49900 07/17/2038 | US | 57,947.47 | $58,319.70 | |
| 902494103 | TYSON FOODS INC -CL A | US | TSN | 578 | $45,384.56 |
| 902653104 | UDR INC | US | UDR | 4,710 | $254,434.20 |
| 902973304 | U.S. BANCORP | US | USB | 1,622 | $93,086.58 |
| 90348R102 | UBISOFT ENTERTAIN-UNSPON ADR | FR | UBSFY | 138,571 | $1,758,465.99 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 99,902 | $5,562,543.36 |
| 907818108 | UNION PAC CORP | US | UNP | 602 | $130,537.68 |
| 90932KAA7 | UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 474,766.81 | $470,886.58 | |
| 90932NAA1 | UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 93,095.75 | $96,204.81 | |
| 91086QBG2 | UNITED MEXICAN STATES 4.12500 01/21/2026 | MX | 200,000 | $225,978.00 | |
| 912810QK7 | US TREASURY N/BB 3.87500 08/15/2040 | US | 3,800,000 | $5,113,820.32 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 33,285,000 | $34,643,704.02 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 19,030,000 | $20,136,862.06 | |
| 912828X88 | US TREASURY N/B 2.37500 05/15/2027 | US | 14,465,000 | $15,666,273.12 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 19,355,000 | $20,461,108.06 | |
| 91282CCB5 | US TREASURY N/B 1.62500 05/15/2031 | US | 4,935,000 | $5,088,447.66 | |
| 92212KAB2 | VDC 2020-1A A2 1.64500 09/15/2045 | US | 1,250,000 | $1,251,682.88 | |
| 92276F100 | VENTAS INC | US | VTR | 1,911 | $106,901.34 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 3,096 | $170,280.00 |
| 92343VCV4 | VERIZON COMMUNICATIONS 4.27200 01/15/2036 | US | 3,450,000 | $4,126,212.56 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 21,834 | $4,373,131.86 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 24,612 | $5,638,609.20 |
| 92840VAH5 | VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 | US | 150,000 | $152,250.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 1.14600 12/15/2033 | US | 1,204,000 | $1,204,070.67 | |
| 931142103 | WAL MART STORES | US | WMT | 1,651 | $244,513.10 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 526 | $81,587.86 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 2,287 | $200,181.11 |
| 963320106 | WHIRLPOOL CORP | US | WHR | 119 | $26,362.07 |
| 969457BY5 | WILLIAMS COMPANIES INC 2.60000 03/15/2031 | US | 2,630,000 | $2,683,638.56 | |
| 969904101 | WILLIAMS - SONOMA INC | US | WSM | 147 | $27,444.90 |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 137,441.95 | $139,318.36 | |
| 98978V103 | ZOETIS INC | US | ZTS | 4,794 | $980,660.64 |
| B02J639 | ADMIRAL GROUP PLC | GB | ADM LN | 12,060 | $599,214.91 |
| B1KFX13 | GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 13,200 | $79,558.85 |
| B1L3CS6 | UBISOFT ENTERTAINMENT | FR | UBI FP | 2,262 | $143,686.61 |
| B1Y9TB3 | DANONE | FR | BN FP | 5,016 | $366,297.33 |
| B1YXBJ7 | AIR LIQUIDE | FR | AI FP | 2,254 | $404,012.23 |
| B3QJ0H8 | TOURMALINE OIL CORP | CA | TOU CN | 9,696 | $259,297.78 |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 433,000 | $349,615.80 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 5,621,000 | $282,222.67 | |
| B4YVF56 | BRENNTAG AG | DE | BNR GR | 1,651 | $166,616.17 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 1,081,000 | $56,726.66 | |
| BBQ3850 | KEYWORDS STUDIOS PLC | IE | KWS LN | 2,609 | $111,985.63 |
| BFZZM64 | S4 CAPITAL PLC | GB | SFOR LN | 28,023 | $313,613.21 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 53,829 | $80,559.43 |
| BJ2KSG2 | AKZO NOBEL | NL | AKZA NA | 927 | $114,242.82 |
| BJ9JY53 | JINXIN FERTILITY GROUP | CN | 1951 HK | 50,000 | $79,451.97 |
| BJXMLF7 | AVANZA BANK HOLDING AB | SE | AZA SS | 5,009 | $192,946.68 |
| BK0939417 | AMERICAN TANKER INC 7.75000 07/02/2025 | US | 250,000 | $256,187.50 | |
| BKWD4B5 | SOFTWAREONE HOLDING AG | CH | SWON SW | 9,927 | $281,242.14 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 4,358 | $269,162.28 |
| BMXKJ81 | FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 7,001 | $126,718.10 |
| BN7860420 | PETROTAL CORP 12.00000 02/16/2024 | CA | 115,000 | $119,600.00 | |
| BNGN9Z1 | FINECOBANK SPA | IT | FBK IM | 32,215 | $593,466.79 |
| BO8204600 | COPPER MOUNTAIN MINING C 8.00000 04/09/2026 | CA | 500,000 | $522,500.00 | |
| BP3061408 | AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 | NO | 500,000 | $495,000.00 | |
| BQ0584657 | JERVOIS MINING LTD 12.50000 07/20/2026 | AU | 400,000 | $422,380.00 | |
| BVYVFW2 | AUTO TRADER GROUP PLC | GB | AUTO LN | 26,177 | $226,368.84 |
| BW1YVH8 | WALMART DE MEXICO SAB DE CV | MX | WALMEX MM | 45,117 | $160,102.00 |
| BYPC1T4 | ASSA ABLOY AB-B | SE | ASSAB SS | 3,921 | $125,474.81 |
| BYT1DJ1 | INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 7,839 | $237,047.29 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 2,101 | $128,859.05 |
| BZ1HM42 | ADYEN NV | NL | ADYEN NA | 78 | $252,101.94 |
| G0772R208 | BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 3,887 | $129,475.97 |
| G16962105 | BUNGE LIMITED | US | BG | 291 | $22,031.61 |
| G29183103 | EATON CORP PLC | US | ETN | 515 | $86,705.40 |
| G3223R108 | EVEREST RE GROUP LTD | BM | RE | 88 | $23,311.20 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,138 | $85,122.40 |
| G5494J103 | LINDE PLC | GB | LIN | 464 | $145,969.76 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 18,333 | $2,447,088.84 |
| G85158106 | STONECO LTD-A | BR | STNE | 4,758 | $221,437.32 |
| H01301128 | ALCON INC | CH | ALC | 57,032 | $4,703,429.04 |
| H1467J104 | CHUBB LTD | CH | CB | 515 | $94,718.80 |
| H2906T109 | GARMIN LTD | CH | GRMN | 302 | $52,677.86 |
| USD | US DOLLAR | US | 15,280,870.28 | $15,280,870.28 | |
| ZO1818103 | NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 | MH | 150,000 | $156,750.00 | |
| ZO4110185 | BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 200,000 | $196,000.00 |
Investments will change over time.
Distributions
- Pro-Blend® Moderate Term Series Class I Distribution History
- 2021 Distribution Calendar
- Fourth Quarter 2020 Distributions
- Third Quarter 2021 Distributions
- Second Quarter 2021 Distributions
- First Quarter 2021 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
$11.02
Daily $ Change
-$0.02
Daily % Change
-0.18%
as of 09/16/2021
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 | |
| N-Port Part F Reports |
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.
Performance
As of 08/31/2021
YTD
7.86%
1 Year
13.25%
3 Year
11.08%
5 Year
8.75%
10 Year
7.32%
Inception
(09/15/1993)
7.09%
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 | 0.86% |
| 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 08/31/2021
| TREASURY NOTES | 20.14% |
| GOVERNMENT AGENCY | 3.09% |
| FACEBOOK INC -A | 2.10% |
| AMAZON.COM INC | 2.06% |
| ALPHABET INC-CL A | 1.92% |
| MICROSOFT CORP | 1.37% |
| AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | 1.22% |
| JOHNSON & JOHNSON | 1.19% |
| SBA COMMUNICATIONS CORP | 1.18% |
| VISA INC - CLASS A SHARES | 1.12% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 08/31/2021
| Bonds | 51.98% | |
| Stocks | 45.07% | |
| Cash | 2.95% |
Detailed Asset Class Allocation
As of 08/31/2021
| International Equities | 11.87% | |
| Small Capitalization | 0.85% | |
| Mid Capitalization | 4.45% | |
| Large Capitalization | 27.89% | |
| Long Term Fixed Income | 15.14% | |
| Intermediate Term Fixed Income | 32.45% | |
| Short Term Fixed Income | 4.40% | |
| Cash | 2.95% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
August Fund Holdings
As of 08/31/2021
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00507V109 | ACTIVISION INC | US | ATVI | 20,145 | $1,659,343.65 |
| 008474108 | AGNICO EAGLE MINES LTD | CA | AEM | 26,313 | $1,513,523.76 |
| 008492100 | AGREE REALTY CORP | US | ADC | 2,001 | $149,174.55 |
| 009126202 | AIR LIQUIDE-ADR | FR | AIQUY | 83,671 | $2,998,768.64 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 1,220,000 | $1,318,643.43 | |
| 01166WAA5 | ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 179,490.89 | $202,110.59 | |
| 01609WAU6 | ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 2,440,000 | $2,727,759.35 | |
| 01627AAA6 | ADC 2021-1A A2 1.93700 08/15/2046 | US | 1,800,000 | $1,805,414.04 | |
| 01879NAA3 | ALLIANCE RES OP/FINANCE 7.50000 05/01/2025 | US | 95,000 | $95,731.50 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 441 | $59,658.48 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 3,323 | $9,616,595.85 |
| 023135106 | AMAZON.COM INC | US | AMZN | 2,980 | $10,342,954.20 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 40,716 | $1,957,327.10 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 3,340 | $169,839.00 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 8,846 | $371,001.24 |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 9,611 | $2,808,045.87 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 3,680,000 | $4,106,658.46 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 4,147 | $152,360.78 |
| 032654105 | ANALOG DEVICES INC | US | ADI | 446 | $72,675.70 |
| 03784Y200 | APPLE HOSPITALITY REIT INC | US | APLE | 7,784 | $115,047.52 |
| 038923AS7 | ARBOR REALTY TRUST INC 8.00000 04/30/2023 | US | 155,000 | $164,173.25 | |
| 039483102 | ARCHER-DANIELS-MIDLAND CO | US | ADM | 832 | $49,920.00 |
| 044209AM6 | ASHLAND LLC 6.87500 05/15/2043 | US | 20,000 | $25,750.00 | |
| 045054AJ2 | ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 1,220,000 | $1,295,776.76 | |
| 053015103 | AUTOMATIC DATA PROCESSING | US | ADP | 469 | $98,039.76 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 1,192 | $273,659.36 |
| 05401AAP6 | AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 | KY | 6,110,000 | $6,131,350.72 | |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 36,396 | $890,246.16 |
| 05567SAA0 | BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 1,140,000 | $1,306,713.60 | |
| 05591XAA9 | BRSP 2021-FL1 A 1.23650 08/19/2038 | US | 1,100,000 | $1,099,999.67 | |
| 067901108 | BARRICK GOLD CORP | CA | GOLD | 78,729 | $1,580,091.03 |
| 071734AM9 | BAUSCH HEALTH COS INC 5.00000 02/15/2029 | CA | 155,000 | $144,925.00 | |
| 07403VAA7 | BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 | US | 135,000 | $137,362.50 | |
| 084423102 | WR BERKLEY CORP | US | WRB | 30,071 | $2,264,647.01 |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 6,472 | $1,849,503.44 |
| 086516101 | BEST BUY INC | US | BBY | 424 | $49,400.24 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 42,797 | $3,603,935.37 |
| 09261XAB8 | BLACKSTONE SECURED LEND 2.75000 09/16/2026 | US | 1,300,000 | $1,339,027.20 | |
| 0963318 | DECHRA PHARMACEUTICALS PLC | GB | DPH LN | 4,079 | $293,859.89 |
| 099502106 | BOOZ ALLEN HAMILTON HOLDINGS | US | BAH | 286 | $23,426.26 |
| 10373QBR0 | BP CAP MARKETS AMERICA 3.06000 06/17/2041 | US | 3,340,000 | $3,432,585.90 | |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 9,432 | $130,916.16 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 2,030 | $135,725.80 |
| 11133T103 | BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 209 | $35,993.98 |
| 12345678 | JONAH ENERGY PARENT LLC | US | 5,224 | $78,360.00 | |
| 125269100 | CF INDUSTRIES HOLDINGS INC | US | CF | 466 | $21,165.72 |
| 12530MAA3 | SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 972,507.46 | $991,028.96 | |
| 12530MAB1 | SORT 2020-1 A2 1.99000 07/15/2060 | US | 849,359.71 | $865,566.51 | |
| 12541W209 | C.H. ROBINSON WORLDWIDE INC | US | CHRW | 269 | $24,226.14 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 120,553.34 | $122,121.50 | |
| 12565KAA5 | CLIF 2021-1A A MTGE 1.64000 02/18/2046 | US | 1,947,939.27 | $1,941,552.56 | |
| 12646WAH7 | CSMC 2013-IVR2 A2 3.00000 04/25/2043 | US | 478,340.22 | $488,703.13 | |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 368,686.96 | $372,174.63 | |
| 12647PAK4 | CSMC 2013-7 A6 3.50000 08/25/2043 | US | 198,515.84 | $201,085.57 | |
| 12648TAA7 | CSMC 2014-IVR3 A1 3.50000 07/25/2044 | US | 99,688.48 | $101,678.57 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 1,387 | $208,105.48 |
| 13321L108 | CAMECO CORP | CA | CCJ | 142,188 | $2,633,321.76 |
| 134429109 | CAMPBELL SOUP CO | US | CPB | 574 | $23,953.02 |
| 136375102 | CANADIAN NATIONAL RAILWAY CO | CA | CNI | 29,427 | $3,461,498.01 |
| 14174T107 | CARETRUST REIT INC | US | CTRE | 4,887 | $107,465.13 |
| 149123101 | CATERPILLAR INC | US | CAT | 539 | $113,658.93 |
| 156700BA3 | CENTURYLINK INC 7.50000 04/01/2024 | US | 95,000 | $105,687.50 | |
| 16119P108 | CHARTER COMMUNICATIONS INC-A | US | CHTR | 4,473 | $3,652,920.18 |
| 172062101 | CINCINNATI FINANCIAL CORP | US | CINF | 298 | $36,773.20 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 3,321 | $196,005.42 |
| 172967424 | CITIGROUP INC | US | C | 1,814 | $130,444.74 |
| 172967KA8 | CITIGROUP INCA 4.45000 09/29/2027 | US | 2,135,000 | $2,444,171.31 | |
| 17329PAY8 | CMLTI 2021-INV1 2.50000 05/25/2051 | US | 741,896.89 | $760,773.71 | |
| 180848P56 | CLARK CNTY NV 1.51000 11/01/2028 | US | 2,530,000 | $2,537,590.00 | |
| 189054109 | CLOROX COMPANY | US | CLX | 203 | $34,114.15 |
| 191216100 | COCA COLA CO/THE | US | KO | 61,196 | $3,445,946.76 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 992 | $77,326.40 |
| 20030N101 | COMCAST CORP-CL A | US | CMCSA | 3,447 | $209,163.96 |
| 200340107 | COMERICA INC | US | CMA | 286 | $21,138.26 |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 980,669.71 | $1,005,099.96 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 4,096 | $198,696.96 |
| 205887102 | CONAGRA BRAND INC. | US | CAG | 886 | $29,344.32 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 32,470 | $1,803,059.10 |
| 21240E105 | CONTROLADORA VUELA CIA DE AV | MX | VLRS | 9,005 | $178,929.35 |
| 217204106 | COPART INC | US | CPRT | 13,149 | $1,897,663.68 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 7,283 | $280,832.48 |
| 22534GAA1 | CAALT 2020-1A 2.01000 02/15/2029 | US | 1,583,000 | $1,607,419.52 | |
| 22536BAA0 | CAALT 2020-3A A 1.24000 10/15/2029 | US | 2,230,000 | $2,253,201.37 | |
| 22537CAA7 | CAALT 2021-2A A 0.96000 02/15/2030 | US | 1,800,000 | $1,808,062.74 | |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 2,332,000 | $2,486,898.83 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 227,888.04 | $230,981.78 | |
| 231021106 | CUMMINS INC | US | CMI | 223 | $52,623.54 |
| 2491914 | KIMBERLY CLARK DE MEXICO S.A.B. | MX | 141,300 | $250,743.48 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 2,226 | $364,863.66 |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 9,538 | $2,126,115.58 |
| 256746108 | DOLLAR TREE STORES INC | US | DLTR | 17,064 | $1,544,974.56 |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 3,526 | $116,393.26 |
| 26150TAE9 | DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 | US | 250,000 | $258,730.26 | |
| 264411505 | DUKE RLTY INVTS INC | US | DRE | 6,979 | $366,467.29 |
| 267475AD3 | DYCOM INDUSTRIES INC 4.50000 04/15/2029 | US | 150,000 | $154,125.00 | |
| 26875P101 | EOG RESOURCES INC | US | EOG | 26,441 | $1,785,296.32 |
| 26884L109 | EQT CORP | US | EQT | 111,467 | $2,043,190.11 |
| 277432100 | EASTMAN CHEM CO | US | EMN | 256 | $28,968.96 |
| 285512109 | ELECTRONIC ARTS | US | EA | 12,644 | $1,836,035.24 |
| 291011104 | EMERSON ELEC CO | US | EMR | 796 | $83,978.00 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 2,728,000 | $3,567,110.54 | |
| 29278MAC9 | ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 | US | 60,000 | $61,644.60 | |
| 29444U700 | EQUINIX INC | US | EQIX | 3,485 | $2,939,423.25 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 3,750 | $319,012.50 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 833 | $275,506.42 |
| 30212P303 | EXPEDIA INC | US | EXPE | 28,068 | $4,055,826.00 |
| 30212PBK0 | EXPEDIA GROUP INC 4.62500 08/01/2027 | US | 1,170,000 | $1,323,354.31 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 1,261 | $235,693.51 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 25,569 | $1,394,021.88 |
| 302491303 | FMC CORP | US | FMC | 43,366 | $4,060,358.58 |
| 30264DAA7 | FS ENERGY & POWER FUND 7.50000 08/15/2023 | US | 495,000 | $514,181.25 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.96407 11/25/2047 | US | 48,000 | $52,073.51 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 140,416,889 | $136,400.97 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 27,724 | $10,517,931.12 |
| 3128M5NM8 | FHLM POOL G03696 5.50000 01/01/2038 | US | 768.54 | $895.55 | |
| 3128M5RA0 | FHLM POOL G03781 6.00000 01/01/2038 | US | 101,885 | $119,621.01 | |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 124,401.68 | $147,337.56 | |
| 3128M6NC8 | FHLM POOL G04587 5.50000 08/01/2038 | US | 9,958.96 | $11,599.17 | |
| 3128M6NS3 | FHLM POOL G04601 5.50000 07/01/2038 | US | 11,987.66 | $13,961.02 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 134,456.01 | $156,667.12 | |
| 3128M73H7 | FHLM POOL G05900 6.00000 03/01/2040 | US | 59,491.4 | $69,484.55 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 81,609.01 | $96,787.17 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 1,745.52 | $1,791.76 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 803.06 | $805.75 | |
| 3128MBE45 | FHLM POOL G12655 6.00000 05/01/2022 | US | 723.26 | $726.60 | |
| 3128MBRH2 | FHLM POOL G12988 6.00000 01/01/2023 | US | 1,688.16 | $1,719.29 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 2,344.8 | $2,386.37 | |
| 3128MJ2E9 | FHLM POOL FG 08772 4.50000 07/01/2047 | US | 100,400.54 | $109,299.72 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 163,847.01 | $190,942.34 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 430,854.33 | $472,193.51 | |
| 3128P76G3 | FHLM POOL C91771 4.50000 06/01/2034 | US | 6,540.8 | $7,164.12 | |
| 3128P76R9 | FHLM POOL C91780 4.50000 07/01/2034 | US | 10,724.31 | $11,775.28 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 800,585.98 | $897,504.31 | |
| 3132A5H40 | FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 | US | 194,210.74 | $206,049.73 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 323,623.71 | $352,380.40 | |
| 3133KYU98 | FHLM POOL RB5108 2.00000 04/01/2041 | US | 1,947,960.22 | $1,997,201.93 | |
| 3136AY6W8 | FNA 2017-M15 A1 FLT 3.05792 09/25/2027 | US | 1,365,440.44 | $1,458,301.31 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 148,630.5 | $152,270.30 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.59940 10/25/2021 | US | 1,391,820.94 | $13.92 | |
| 3137AME78 | FHMS K017 X1 FLT 1.54998 12/25/2021 | US | 3,548,848.22 | $35.49 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.50845 06/25/2022 | US | 10,612,560.09 | $54,604.81 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.26124 04/25/2023 | US | 54,997,275.2 | $114,234.84 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.19743 05/25/2023 | US | 35,348,990.29 | $57,463.32 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 473,034.41 | $559,508.51 | |
| 3138EHXZ0 | FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 | US | 329,751.41 | $390,528.40 | |
| 3138EP2A1 | FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 | US | 137,023.19 | $152,811.96 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.66100 01/01/2049 | US | 1,211,272.51 | $1,361,722.50 | |
| 3138Y6Y81 | FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 | US | 508,437.92 | $560,781.59 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 306,612.72 | $355,690.96 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 337,210.71 | $367,092.42 | |
| 3140F8RB5 | FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 | US | 84,827.54 | $90,772.56 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 80,613.31 | $87,865.16 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 18.32 | $18.34 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 142.83 | $142.99 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 259.69 | $261.35 | |
| 31410KJV7 | FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 | US | 236,271.07 | $280,292.42 | |
| 31416BRR1 | FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 | US | 514,383.9 | $611,251.76 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 230.3 | $230.75 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 414,165.4 | $462,528.36 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 355,904.28 | $390,690.57 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 348,077.17 | $382,106.29 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 489,746.09 | $520,543.11 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 674,228.05 | $715,072.66 | |
| 31418DU59 | FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 | US | 3,066,666.58 | $3,192,308.00 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 26,889.5 | $31,953.24 | |
| 31418MGR7 | FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 87,396.69 | $103,857.92 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 7,208.49 | $8,398.53 | |
| 31418MQQ8 | FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 5,239.34 | $5,465.42 | |
| 31620R303 | FNF GROUP | US | FNF | 599 | $29,249.17 |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 1,112 | $43,212.32 |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 1,541,000 | $1,619,750.80 | |
| 345370CW8 | FORD MOTOR COMPANY 9.00000 04/22/2025 | US | 165,000 | $201,580.50 | |
| 346232AF8 | FORESTAR GROUP INC 3.85000 05/15/2026 | US | 100,000 | $100,750.00 | |
| 35563BAJ9 | FREMF 2014-K37 B FLT 4.71532 01/25/2047 | US | 1,977,000 | $2,142,333.94 | |
| 36257MAA3 | GSMS 2019-70P A 1.09600 10/15/2036 | US | 1,342,000 | $1,342,016.24 | |
| 36262LAJ9 | GSMBS 2021-PJ6 A8 2.50000 11/25/2051 | US | 1,136,858.98 | $1,165,902.32 | |
| 36263KAJ0 | GSMBS 2021-INV1 A9 0.90000 12/25/2051 | US | 1,370,000 | $1,369,899.58 | |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 360 | $72,111.60 |
| 369604BQ5 | GENERAL ELECTRIC CO 3.44888 01/21/2099 | US | 2,321,000 | $2,251,370.09 | |
| 370334104 | GENERAL MLS INC | US | GIS | 867 | $50,121.27 |
| 372460105 | GENUINE PARTS CO | US | GPC | 272 | $33,235.68 |
| 374297109 | GETTY REALTY CORP | US | GTY | 4,197 | $132,751.11 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,378 | $100,290.84 |
| 38217TAA3 | GOODG 2020-1A MTGE 2.63000 04/15/2055 | US | 1,454,456.64 | $1,490,545.64 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 1,277,536.11 | $1,323,643.54 | |
| 384802104 | WW GRAINGER INC | US | GWW | 88 | $38,165.60 |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 226,033 | $4,638,197.16 |
| 400506101 | GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 850 | $98,948.50 |
| 40051E202 | GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 544 | $97,256.32 |
| 4012250 | AIRBUS SE | FR | AIR FP | 897 | $122,706.14 |
| 4031976 | ADIDAS AG | DE | ADS GR | 435 | $154,316.17 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 1,617,000 | $1,829,828.12 | |
| 416515104 | HARTFORD FINL SVCS | US | HIG | 575 | $38,651.50 |
| 419792A22 | HAWAII ST 2.68200 10/01/2030 | US | 1,835,000 | $1,887,352.55 | |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 4,752 | $144,128.16 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 5,254 | $189,144.00 |
| 423012301 | HEINEKEN NV-SPN ADR | NL | HEINY | 34,865 | $1,906,766.85 |
| 427866108 | HERSHEY CO/THE | US | HSY | 308 | $54,731.60 |
| 42806MAA7 | HERTZ 2021-1A A 1.21000 12/26/2025 | US | 1,600,000 | $1,608,826.40 | |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 981 | $122,487.66 |
| 437076102 | HOME DEPOT INC | US | HD | 731 | $238,437.58 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 617 | $143,088.47 |
| 44267DAE7 | HOWARD HUGHES CORP 4.12500 02/01/2029 | US | 155,000 | $155,775.00 | |
| 443510607 | HUBBELL INC | US | HUBB | 117 | $24,114.87 |
| 446150104 | HUNTINGTON BANCSHARES | US | HBAN | 1,877 | $29,149.81 |
| 448579102 | HYATT HOTEL | US | H | 23,825 | $1,753,281.75 |
| 44988FAC4 | IIP OPERATING PARTNER 5.50000 05/25/2026 | US | 200,000 | $210,013.29 | |
| 450913AF5 | IAMGOLD CORP 5.75000 10/15/2028 | CA | 155,000 | $154,418.75 | |
| 451102BZ9 | ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 | US | 145,000 | $150,611.50 | |
| 45168D104 | IDEXX LABORATORIES INC | US | IDXX | 2,811 | $1,893,939.36 |
| 4519579 | KERRY GROUP PLC-A | IE | KYG ID | 1,141 | $167,326.68 |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 368 | $85,692.48 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 155,000 | $165,426.85 | |
| 45778Q107 | INSPERITY INC | US | NSP | 21,736 | $2,398,350.24 |
| 45781V101 | INNOVATIVE INDUSTRIAL PROPER | US | IIPR | 600 | $147,546.00 |
| 458140100 | INTEL CORP | US | INTC | 3,004 | $162,396.24 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 32,969 | $3,940,784.57 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 861 | $120,832.74 |
| 459506101 | INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 358 | $54,237.00 |
| 46116VAE5 | INTL FC STORE INC 8.62500 06/15/2025 | US | 140,000 | $151,480.00 | |
| 46187BAA1 | IHSFR 2017-SFR2 A 0.94300 12/17/2036 | US | 192,983.9 | $193,164.65 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 1.24300 12/17/2036 | US | 159,941.93 | $160,076.59 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 11,503 | $473,693.54 |
| 464288620 | ISHARES BROAD USD INVESTMENT 1.50100 | US | 64,425 | $3,929,925.00 | |
| 465410BX5 | ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 380,000 | $395,384.68 | |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 1,473 | $235,606.35 |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 182,141.34 | $184,475.77 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 167,261.46 | $169,682.29 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 408,075.43 | $416,473.17 | |
| 46647PBP0 | JPMORGAN CHASE & CO 2.95600 05/13/2031 | US | 3,250,000 | $3,433,591.04 | |
| 46648HAC7 | JPMMT 2017-2 A3 3.50000 05/25/2047 | US | 20,814.5 | $21,146.81 | |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 34,409 | $5,957,230.17 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 2,687 | $176,401.55 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 438 | $60,360.78 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 2,299,000 | $3,288,916.27 | |
| 500754106 | KRAFT HEINZ CO/THE | US | KHC | 1,570 | $56,504.30 |
| 501044101 | KROGER CO | US | KR | 1,228 | $56,524.84 |
| 502431109 | L3HARRIS TECHNOLOGIES INC | US | LHX | 275 | $64,077.75 |
| 5107401 | BEIERSDORF AG | DE | BEI GR | 2,045 | $248,189.49 |
| 512816109 | LAMAR ADVERTISING CO-A | US | LAMR | 825 | $93,909.75 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 1,243 | $154,678.92 |
| 539473AE8 | LLOYDS BANK PLC 12.00000 12/16/2024 | GB | 480,000 | $507,000.00 | |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 281 | $101,103.80 |
| 550021109 | LULULEMON - ADR | CA | LULU | 424 | $169,672.08 |
| 55616XAM9 | MACY'S RETAIL HLDGS LLC 4.50000 12/15/2034 | US | 105,000 | $102,765.08 | |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 14,592 | $5,052,188.16 |
| 5852842 | ACCOR SA | FR | AC FP | 3,787 | $130,592.63 |
| 58933Y105 | MERCK & CO INC | US | MRK | 2,061 | $157,233.69 |
| 59022CAJ2 | MERRILL LYNCH 6.11000 01/29/2037 | US | 1,550,000 | $2,132,041.62 | |
| 594918104 | MICROSOFT CORP | US | MSFT | 22,841 | $6,895,241.08 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 1,982 | $381,277.34 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 66,747 | $4,142,986.29 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 10,208 | $3,886,900.16 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 155,000 | $132,427.35 | |
| 620076307 | MOTOROLA SOLUTIONS INC | US | MSI | 245 | $59,833.90 |
| 6321954 | TRAVELSKY TECHNOLOGY LTD-H | CN | 696 HK | 160,000 | $299,718.76 |
| 63938CAH1 | NAVIENT CORP 6.75000 06/25/2025 | US | 475,000 | $529,625.00 | |
| 63938EAC8 | NAVSL 2014-1 A3 FLT 0.59438 06/25/2031 | US | 1,234,746.56 | $1,206,882.65 | |
| 63941XAA5 | NAVSL 2020-FA A 1.22000 07/15/2069 | US | 966,270.16 | $972,891.53 | |
| 63942FAB1 | NAVSL 2020-1A A1B 1.13438 06/25/2069 | US | 1,867,998.94 | $1,895,238.47 | |
| 64032XAA3 | NSLT 2012-3A A MTGE FLT 0.78438 02/25/2045 | US | 314,501.11 | $313,060.85 | |
| 64033GAA9 | NSLT 2013-5A A MTGE FLT 0.71438 01/25/2037 | US | 439,571.41 | $440,573.02 | |
| 64033NAA4 | NLST 2014-5A A 0.63438 07/25/2046 | US | 1,657,562.81 | $1,650,900.90 | |
| 64033QAB5 | NSLT 2015-2A A2 0.68438 09/25/2047 | US | 620,009.85 | $622,023.39 | |
| 64110D104 | NETAPP INC | US | NTAP | 415 | $36,905.95 |
| 644393AA8 | NEW FORTRESS ENERGY INC 6.75000 09/15/2025 | US | 145,000 | $147,175.00 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 378,345 | $402,511.56 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 457,863.23 | $484,542.60 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 537,181.51 | $576,756.85 | |
| 6490995 | KEYENCE CORP | JP | 6861 JP | 300 | $180,100.02 |
| 64971XPG7 | NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 | US | 685,000 | $705,597.95 | |
| 65106WAA3 | NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 1,280,000 | $1,335,378.65 | |
| 651639106 | NEWMONT GOLDCORP CORP | US | NEM | 30,688 | $1,779,597.12 |
| 65341D102 | NEXPOINT RESIDENTIAL | US | NXRT | 1,939.79 | $125,678.81 |
| 655844108 | NORFOLK SOUTHN CORP | US | NSC | 6,711 | $1,701,506.94 |
| 6642321 | NIKON CORP | JP | 7731 JP | 165,400 | $1,738,384.90 |
| 666807102 | NORTHROP GRUMMAN CORP | US | NOC | 204 | $75,010.80 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 497,000 | $49.70 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 44,752 | $4,134,637.28 |
| 670346105 | NUCOR CORP | US | NUE | 535 | $62,894.60 |
| 67066G104 | NVIDIA CORP | US | NVDA | 10,047 | $2,249,020.95 |
| 67421QAA0 | OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 | US | 150,000 | $155,250.00 | |
| 6742340 | SHANDONG WEIGAO | CN | 1066 HK | 128,000 | $210,615.29 |
| 681919106 | OMNICOM GROUP | US | OMC | 398 | $29,141.56 |
| 6821506 | SONY CORP FIRST SECTION | JP | 6758 JP | 4,800 | $496,297.83 |
| 68389X105 | ORACLE CORP | US | ORCL | 2,320 | $206,781.60 |
| 68622V106 | ORGANNON & CO | US | OGN | 206 | $6,981.34 |
| 691205AE8 | OWL ROCK TECHNOLOGY 3.75000 06/17/2026 | US | 1,290,000 | $1,369,822.97 | |
| 69144AAA7 | OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 1,371,000 | $1,408,442.56 | |
| 69145AAB4 | OXFIN 2019-1A A2 4.45900 02/15/2027 | US | 49,650.55 | $51,125.21 | |
| 693456AW5 | PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 418,793.75 | $426,060.20 | |
| 69354NAC0 | PRA GROUP INC 7.37500 09/01/2025 | US | 145,000 | $154,787.50 | |
| 695156109 | PACKAGING CORP OF AMERICA | US | PKG | 191 | $28,974.70 |
| 7021963 | DEUTSCHE BOERSE AG | DE | DB1 GR | 2,435 | $419,932.49 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 15,352 | $4,431,508.32 |
| 70789PAA2 | PENN VIRGINIA ESC LLC 9.25000 08/15/2026 | US | 150,000 | $145,875.00 | |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 27,704 | $3,498,706.38 |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 190,000 | $205,549.13 | |
| 742718109 | PROCTER & GAMBLE CO | US | PG | 1,656 | $235,797.84 |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 1,593,839.99 | $1,618,360.90 | |
| 74340W103 | PROLOGIS | US | PLD | 8,678 | $1,168,579.48 |
| 74387VAA7 | PFMT 2021 -INV1 A1 2.50000 08/25/2051 | US | 2,093,619.72 | $2,148,986.12 | |
| 74388JAD7 | PFMT 2021-2 A2A 2.00000 04/25/2051 | US | 1,383,799.07 | $1,401,961.43 | |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 1,672 | $541,075.92 |
| 747525103 | QUALCOMM INC | US | QCOM | 991 | $145,369.79 |
| 74834L100 | QUEST DIAGNOSTICS INC | US | DGX | 245 | $37,443.35 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 265 | $21,806.85 |
| 750481103 | RADIUS GLOBAL INFRASTRUCTURE | US | RADI | 15,169 | $271,221.72 |
| 75134P402 | RAMACO RESOURCES INC | US | 20,500 | $551,655.00 | |
| 756109104 | REALTY INCOME CORP | US | O | 1,060 | $76,553.20 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,642 | $33,546.06 |
| 759509102 | RELIANCE STEEL & ALUMINUM | US | RS | 139 | $20,855.56 |
| 760759100 | REPUBLIC SERVICES INC | US | RSG | 471 | $58,465.23 |
| 76131D103 | RESTAURANT BRANDS INTERN | CA | QSR | 2,711 | $174,073.31 |
| 76169C100 | REXFORD INDUSTRIAL REALITY IN | US | REXR | 4,335 | $268,466.55 |
| 7698356 | GETINGE AB-B SHS | SE | GETIB SS | 8,127 | $333,570.87 |
| 7792559 | HEINEKEN NV | NL | HEIA NA | 1,939 | $212,363.28 |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 15,820 | $622,833.40 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 19,024 | $2,048,884.80 |
| 78403DAP5 | SBA TOWER TRUST 1.88400 01/15/2026 | US | 520,000 | $529,245.24 | |
| 78403DAR1 | SBA TOWER TRUST 2.32800 01/15/2028 | US | 1,800,000 | $1,851,263.64 | |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 3,646 | $1,618,167.72 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 16,486 | $5,917,979.42 |
| 78442FAZ1 | SLM CORP 5.62500 08/01/2033 | US | 105,000 | $101,718.75 | |
| 78442GQJ8 | SLMA 2005-7 A4 FLT 0.27525 10/25/2029 | US | 915,722.53 | $911,723.94 | |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 125,000 | $126,562.50 | |
| 78449UAB4 | SMB 2020-A A2A MTGE 2.23000 09/15/2037 | US | 1,879,000 | $1,933,727.57 | |
| 78470RAC1 | SOFI 2016-E A2B 2.49000 01/25/2036 | US | 50,564.19 | $50,959.42 | |
| 78471DAA5 | SCLP 2016-1 A 3.26000 08/25/2025 | US | 12,626.77 | $12,651.14 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 3,211,000 | $3,791,018.02 | |
| 79466L302 | SALESFORCE.COM | US | CRM | 8,126 | $2,155,584.02 |
| 81141R100 | SEA LTD - ADR | SG | SE | 14,724 | $4,981,423.68 |
| 81181C104 | SEAGEN INC | US | SGEN | 23,313 | $3,907,258.80 |
| 81745BAB1 | SEMT 2013-6 A2 3.00000 05/25/2043 | US | 685,206.67 | $691,965.62 | |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 226,341.29 | $228,719.12 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 272,085.93 | $274,969.99 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 402,557.84 | $404,665.67 | |
| 81746FAU9 | SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 | US | 146,461.89 | $148,693.60 | |
| 81748MAA6 | SEMT 2020-1 A1 3.50000 02/25/2050 | US | 122,409.32 | $124,831.20 | |
| 81748MAD0 | SEMT 2020-1 A4 3.50000 02/25/2050 | US | 4,481.86 | $4,489.00 | |
| 81762P102 | SERVICENOW INC | US | NOW | 3,640 | $2,342,849.60 |
| 82967NBJ6 | SIRIUS XM RADIO INC 4.00000 07/15/2028 | US | 100,000 | $102,470.00 | |
| 831865209 | SMITH (A.O.) CORP | US | AOS | 341 | $24,797.52 |
| 83192CAB3 | SMB 2019-B A2A 2.84000 06/15/2037 | US | 2,130,314.98 | $2,225,796.55 | |
| 832696405 | JM SMUCKER CO/THE-NEW COM WI | US | SJM | 218 | $26,960.06 |
| 833034101 | SNAP-ON INC | US | SNA | 108 | $24,294.60 |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 171,785.1 | $175,818.17 | |
| 83404RAB4 | SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 670,129.99 | $687,614.02 | |
| 83405TAA1 | SCLP 2019-3 A MTGE 2.90000 05/25/2028 | US | 16,287 | $16,321.42 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 9,368.52 | $9,380.95 | |
| 83406TAB8 | SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 | US | 1,126,000 | $1,161,912.42 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SONY | 17,348 | $1,794,824.08 |
| 837151XH7 | SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 | US | 955,000 | $990,172.65 | |
| 844741BJ6 | SOUTHWEST AIRLINES CO 5.25000 05/04/2025 | US | 2,237,000 | $2,535,582.34 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 1.56550 11/15/2027 | US | 1,910,952.51 | $1,275,560.80 | |
| 858119100 | STEEL DYNAMICS INC | US | STLD | 442 | $29,830.58 |
| 861036AA9 | STL HOLDING CO LLC 7.50000 02/15/2026 | US | 195,000 | $206,700.00 | |
| 866674104 | SUN COMMUNITIES | US | SUI | 2,446 | $492,844.54 |
| 86935CAA0 | SCML 2019-SBC8 2.86000 04/25/2041 | US | 212,369.3 | $213,565.62 | |
| 87105L104 | SWITCH INC - A | US | SWCH | 16,798 | $416,758.38 |
| 87157B301 | SYNCHRONOSS TECH 8.37500 06/30/2026 | US | 4,110 | $103,161.00 | |
| 87267CAA6 | TRP 2021-1 A MTGE 2.07000 06/19/2051 | US | 1,495,904.07 | $1,497,562.88 | |
| 87356LAA8 | TACORA RESOURCES INC 8.25000 05/15/2026 | CA | 195,000 | $203,342.10 | |
| 874039100 | TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 1,368 | $162,805.68 |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 4,415,000 | $4,896,235.22 | |
| 88146M101 | TERRENO REALTY CORP | US | TRNO | 2,083 | $139,165.23 |
| 883556102 | THERMO FISHER SCIENTIFIC INC | US | TMO | 3,810 | $2,114,359.50 |
| 88579Y101 | 3M CO | US | MMM | 572 | $111,391.28 |
| 89151E109 | TOTALENERGIES SE SPON ADR | FR | TTE | 20,886 | $925,040.94 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 633,305.19 | $642,810.47 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 461,747.15 | $468,315.83 | |
| 89177EAA7 | TPMT 2019-HY1 A1 1.08438 10/25/2048 | US | 534,408.16 | $537,624.44 | |
| 89417E109 | TRAVELLERS COS INC | US | TRV | 358 | $57,176.18 |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 1,489,585.34 | $1,517,066.40 | |
| 89613GAA4 | TAH 2020-SFR1 A 1.49900 07/17/2038 | US | 57,947.47 | $58,319.70 | |
| 902494103 | TYSON FOODS INC -CL A | US | TSN | 578 | $45,384.56 |
| 902653104 | UDR INC | US | UDR | 4,710 | $254,434.20 |
| 902973304 | U.S. BANCORP | US | USB | 1,622 | $93,086.58 |
| 90348R102 | UBISOFT ENTERTAIN-UNSPON ADR | FR | UBSFY | 138,571 | $1,758,465.99 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 99,902 | $5,562,543.36 |
| 907818108 | UNION PAC CORP | US | UNP | 602 | $130,537.68 |
| 90932KAA7 | UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 474,766.81 | $470,886.58 | |
| 90932NAA1 | UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 93,095.75 | $96,204.81 | |
| 91086QBG2 | UNITED MEXICAN STATES 4.12500 01/21/2026 | MX | 200,000 | $225,978.00 | |
| 912810QK7 | US TREASURY N/BB 3.87500 08/15/2040 | US | 3,800,000 | $5,113,820.32 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 33,285,000 | $34,643,704.02 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 19,030,000 | $20,136,862.06 | |
| 912828X88 | US TREASURY N/B 2.37500 05/15/2027 | US | 14,465,000 | $15,666,273.12 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 19,355,000 | $20,461,108.06 | |
| 91282CCB5 | US TREASURY N/B 1.62500 05/15/2031 | US | 4,935,000 | $5,088,447.66 | |
| 92212KAB2 | VDC 2020-1A A2 1.64500 09/15/2045 | US | 1,250,000 | $1,251,682.88 | |
| 92276F100 | VENTAS INC | US | VTR | 1,911 | $106,901.34 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 3,096 | $170,280.00 |
| 92343VCV4 | VERIZON COMMUNICATIONS 4.27200 01/15/2036 | US | 3,450,000 | $4,126,212.56 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 21,834 | $4,373,131.86 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 24,612 | $5,638,609.20 |
| 92840VAH5 | VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 | US | 150,000 | $152,250.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 1.14600 12/15/2033 | US | 1,204,000 | $1,204,070.67 | |
| 931142103 | WAL MART STORES | US | WMT | 1,651 | $244,513.10 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 526 | $81,587.86 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 2,287 | $200,181.11 |
| 963320106 | WHIRLPOOL CORP | US | WHR | 119 | $26,362.07 |
| 969457BY5 | WILLIAMS COMPANIES INC 2.60000 03/15/2031 | US | 2,630,000 | $2,683,638.56 | |
| 969904101 | WILLIAMS - SONOMA INC | US | WSM | 147 | $27,444.90 |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 137,441.95 | $139,318.36 | |
| 98978V103 | ZOETIS INC | US | ZTS | 4,794 | $980,660.64 |
| B02J639 | ADMIRAL GROUP PLC | GB | ADM LN | 12,060 | $599,214.91 |
| B1KFX13 | GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 13,200 | $79,558.85 |
| B1L3CS6 | UBISOFT ENTERTAINMENT | FR | UBI FP | 2,262 | $143,686.61 |
| B1Y9TB3 | DANONE | FR | BN FP | 5,016 | $366,297.33 |
| B1YXBJ7 | AIR LIQUIDE | FR | AI FP | 2,254 | $404,012.23 |
| B3QJ0H8 | TOURMALINE OIL CORP | CA | TOU CN | 9,696 | $259,297.78 |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 433,000 | $349,615.80 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 5,621,000 | $282,222.67 | |
| B4YVF56 | BRENNTAG AG | DE | BNR GR | 1,651 | $166,616.17 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 1,081,000 | $56,726.66 | |
| BBQ3850 | KEYWORDS STUDIOS PLC | IE | KWS LN | 2,609 | $111,985.63 |
| BFZZM64 | S4 CAPITAL PLC | GB | SFOR LN | 28,023 | $313,613.21 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 53,829 | $80,559.43 |
| BJ2KSG2 | AKZO NOBEL | NL | AKZA NA | 927 | $114,242.82 |
| BJ9JY53 | JINXIN FERTILITY GROUP | CN | 1951 HK | 50,000 | $79,451.97 |
| BJXMLF7 | AVANZA BANK HOLDING AB | SE | AZA SS | 5,009 | $192,946.68 |
| BK0939417 | AMERICAN TANKER INC 7.75000 07/02/2025 | US | 250,000 | $256,187.50 | |
| BKWD4B5 | SOFTWAREONE HOLDING AG | CH | SWON SW | 9,927 | $281,242.14 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 4,358 | $269,162.28 |
| BMXKJ81 | FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 7,001 | $126,718.10 |
| BN7860420 | PETROTAL CORP 12.00000 02/16/2024 | CA | 115,000 | $119,600.00 | |
| BNGN9Z1 | FINECOBANK SPA | IT | FBK IM | 32,215 | $593,466.79 |
| BO8204600 | COPPER MOUNTAIN MINING C 8.00000 04/09/2026 | CA | 500,000 | $522,500.00 | |
| BP3061408 | AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 | NO | 500,000 | $495,000.00 | |
| BQ0584657 | JERVOIS MINING LTD 12.50000 07/20/2026 | AU | 400,000 | $422,380.00 | |
| BVYVFW2 | AUTO TRADER GROUP PLC | GB | AUTO LN | 26,177 | $226,368.84 |
| BW1YVH8 | WALMART DE MEXICO SAB DE CV | MX | WALMEX MM | 45,117 | $160,102.00 |
| BYPC1T4 | ASSA ABLOY AB-B | SE | ASSAB SS | 3,921 | $125,474.81 |
| BYT1DJ1 | INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 7,839 | $237,047.29 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 2,101 | $128,859.05 |
| BZ1HM42 | ADYEN NV | NL | ADYEN NA | 78 | $252,101.94 |
| G0772R208 | BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 3,887 | $129,475.97 |
| G16962105 | BUNGE LIMITED | US | BG | 291 | $22,031.61 |
| G29183103 | EATON CORP PLC | US | ETN | 515 | $86,705.40 |
| G3223R108 | EVEREST RE GROUP LTD | BM | RE | 88 | $23,311.20 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,138 | $85,122.40 |
| G5494J103 | LINDE PLC | GB | LIN | 464 | $145,969.76 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 18,333 | $2,447,088.84 |
| G85158106 | STONECO LTD-A | BR | STNE | 4,758 | $221,437.32 |
| H01301128 | ALCON INC | CH | ALC | 57,032 | $4,703,429.04 |
| H1467J104 | CHUBB LTD | CH | CB | 515 | $94,718.80 |
| H2906T109 | GARMIN LTD | CH | GRMN | 302 | $52,677.86 |
| USD | US DOLLAR | US | 15,280,870.28 | $15,280,870.28 | |
| ZO1818103 | NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 | MH | 150,000 | $156,750.00 | |
| ZO4110185 | BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 200,000 | $196,000.00 |
Investments will change over time.
Distributions
- Pro-Blend® Moderate Term Series Class I Distribution History
- 2021 Distribution Calendar
- Fourth Quarter 2020 Distributions
- Third Quarter 2021 Distributions
- Second Quarter 2021 Distributions
- First Quarter 2021 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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