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

$10.18

Daily $ Change

-$0.05

Daily % Change

-0.49%

as of 09/13/2019

Ticker

MNMCX

CUSIP

56382P625

Inception Date

01/04/2010

Investment Minimum

$2,000.00

Prior to 03/01/2019, the Class L shares were designated as the Class R2 shares. Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

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

Performance

As of 08/31/2019

YTD

12.32%

1 Year

6.03%

3 Year

4.86%

5 Year

2.37%

10 Year

5.37%

Inception
(09/15/1993)

5.78%

US Stock Market Cycle (04/01/2000 - 08/31/2019)

5.13%

Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 01/04/2010 (the inception date of the Class L shares), performance for the Class L shares is hypothetical and is based on the historical performance of the Class S shares adjusted for the Class L shares’ charges and expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.75%*

Includes a 12b-1 fee of 1.00%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 08/31/2019

TREASURY NOTES 11.16%
GOVERNMENT AGENCY 10.90%
TREASURY BONDS 8.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.00%
TSY INFL IX N/B 0.50000 04/15/2024 1.50%
MEDTRONIC INC 1.47%
MASTERCARD INC-CLASS A 1.27%
NOVARTIS AG- REG 1.19%
VISA INC - CLASS A SHARES 1.13%
MICROSOFT CORP 1.12%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2019

Bonds 62.43%
Stocks 36.86%
Cash 0.71%

Detailed Asset Class Allocation

As of 08/31/2019

International Equities 14.86%
Small Capitalization 0.33%
Mid Capitalization 0.74%
Large Capitalization 20.92%
Long Term Fixed Income 21.65%
Intermediate Term Fixed Income 32.10%
Short Term Fixed Income 8.69%
Cash 0.71%

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 08/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 40,000 $42,500.00
00101JAM8 ADT CORP 5.25000 03/15/2020 US 40,000 $40,400.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 2,350,000 $2,585,660.07
00287Y109 ABBVIE INC US ABBV 735 $48,318.90
004239109 ACADIA REALTY TRUST US AKR 1,335 $36,512.25
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 40,000 $36,838.40
00507V109 ACTIVISION INC US ATVI 56,590 $2,863,454.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,430,000 $2,606,019.67
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 40,000 $39,800.00
008492100 AGREE REALTY CORP US ADC 825 $61,619.25
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 40,000 $41,000.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 310 $46,450.40
01609W102 ALIBABA GROUP - ADR CN BABA 810 $141,774.30
020002101 ALLSTATE CORPORATION US ALL 175 $17,918.25
02079K107 ALPHABET INC-CL C US GOOG 1,870 $2,221,747.00
02079K305 ALPHABET INC-CL A US GOOGL 1,865 $2,220,338.45
023135106 AMAZON.COM INC US AMZN 1,605 $2,850,945.45
02319V103 AMBEV SA-ADR BR ABEV 168,061 $762,996.94
0237400 DIAGEO PLC GB DGE LN 40,533 $1,735,365.68
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 615,000 $615,922.50
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,320 $61,353.60
0263494 BAE SYSTEMS PLC GB BA/ LN 16,175 $107,565.57
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,060 $206,174.80
0287580 BRITISH AMERICAN TOBACCO PLC GB BATS LN 2,775 $97,342.14
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 100,000 $100,745.80
03027X100 AMERICAN TOWER REIT INC US AMT 7,340 $1,689,594.60
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 71,979.75 $72,724.98
03064D108 AMERICOLD REALTY TRUST US COLD 3,235 $117,818.70
031162100 AMGEN INC US AMGN 326 $68,010.12
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 40,000 $36,300.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 2,591 $132,141.00
038222105 APPLIED MATERIALS INC US AMAT 492 $23,625.84
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 344 $13,089.20
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 20,875 $21,605.63
0405207 HALMA PLC GB HLMA LN 2,535 $60,800.11
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 30,000 $29,700.00
0490656 KERRY GROUP PLC-A IE KYGA LN 930 $110,592.61
05278C107 AUTOHOME INC-ADR CN ATHM 955 $83,237.80
053484101 AVALONBAY COMMUNITIES INC US AVB 1,170 $248,695.20
054937107 BB&T CORP US BBT 368 $17,535.20
05722G100 BAKER HUGHES A GE CO US BHGE 601 $13,035.69
060505104 BANK OF AMERICA CORP US BAC 2,411 $66,326.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,530,000 $3,771,081.03
0673123 ASSOCIATED BRITISH FOODS PLC GB ABF LN 3,610 $99,875.39
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 19,375 $3,941,068.75
086516101 BEST BUY INC US BBY 239 $15,212.35
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 16,370 $1,228,732.20
0922320 SMITH & NEPHEW PLC GB SN/ LN 5,095 $122,090.68
09247X101 BLACKROCK INC US BLK 1,610 $680,321.60
0946580 WEIR GROUP PLC/THE GB WEIR LN 4,140 $74,049.10
097023105 BOEING CO US BA 225 $81,920.25
09857L108 BOOKING HOLDINGS INC US BKNG 785 $1,543,631.85
101121101 BOSTON PROPERTIES INC US BXP 1,325 $170,156.50
105368203 BRANDYWINE REALTY TRUST US BDN 10,745 $154,190.75
110122108 BRISTOL MYERS SQUIBB CO US BMY 811 $38,984.77
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,170 $41,067.00
11135F101 BROADCOM INC US AVGO 181 $51,157.84
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 40,000 $28,500.00
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 40,000 $38,200.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 13,770 $1,640,833.20
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 40,000 $41,100.00
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 160 $13,518.40
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 562,743.07 $580,619.84
12572Q105 CME GROUP INC US CME 7,700 $1,673,133.00
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 934,664.28 $926,535.13
126650100 CVS HEALTH CORP US CVS 670 $40,816.40
12686CBA6 CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 US 40,000 $41,150.00
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 1,850,000 $1,933,335.47
133131102 CAMDEN PROPERTY TRUST US CPT 1,025 $110,956.25
13321L108 CAMECO CORP CA CCJ 6,234 $54,672.18
149123101 CATERPILLAR INC US CAT 278 $33,082.00
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 20,491.69 $20,466.96
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 960,018.15 $966,881.99
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 40,000 $40,700.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 2,776,729.89 $2,773,020.46
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,925 $49,568.75
166764100 CHEVRON CORP US CVX 569 $66,982.68
17275R102 CISCO SYSTEMS INC US CSCO 1,680 $78,640.80
172967424 CITIGROUP INC US C 705 $45,366.75
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,080,000 $1,804,857.38
191216100 COCA COLA CO/THE US KO 60,530 $3,331,571.20
192422103 COGNEX CORP US CGNX 16,655 $750,807.40
194162103 COLGATE-PALMOLIVE CO US CL 510 $37,816.50
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 1,765 $111,091.33
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,220 $94,660.80
205887102 CONAGRA BRAND INC. US CAG 392 $11,117.12
222795502 COUSINS PROPERTIES INC US CUZ 6,257 $217,117.90
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 2,620,000 $2,648,048.65
22822V101 CROWN CASTLE INTL CORP US CCI 910 $132,104.70
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 639,438.75 $626,650.61
229663109 CUBESMART US CUBE 1,055 $37,863.95
231021106 CUMMINS INC US CMI 124 $18,509.48
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 2,800 $31,245.59
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,745 $16,823.79
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 23,200 $42,483.85
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 11,200 $33,348.47
2521800 LOBLAW COMPANIES LTD CA L CN 2,180 $119,315.46
253868103 DIGITAL REALTY TRUST INC US DLR 995 $123,011.85
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,160,000 $2,443,220.69
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 40,000 $41,400.00
25960P109 DOUGLAS EMMETT INC US DEI 2,620 $110,564.00
260557103 DOW INC US DOW 387 $16,497.81
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 250,000 $258,125.00
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 286,000 $263,120.00
269246401 ETRADE FINANCIAL CORP US ETFC 16,360 $682,866.40
2715777 QUEBECOR INC -CL B CA QBR/B CN 33,585 $756,507.55
277432100 EASTMAN CHEM CO US EMN 151 $9,870.87
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 43,130 $819,580.14
285512109 ELECTRONIC ARTS US EA 23,425 $2,194,454.00
2866857 LUNDIN MINING CORP CA LUN CN 4,265 $20,341.56
291011104 EMERSON ELEC CO US EMR 421 $25,087.39
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,620,000 $1,967,729.10
29444U700 EQUINIX INC US EQIX 4,755 $2,645,111.40
2945422 WEG SA BR WEGE3 BZ 2,100 $11,319.01
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 860 $115,859.20
29476L107 EQUITY RESIDENTIAL US EQR 2,450 $207,662.00
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 3,915 $88,909.65
297178105 ESSEX PROPERTY TRUST INC US ESS 615 $197,574.90
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 3,700,000 $3,724,576.66
30225T102 EXTRA SPACE STORAGE INC US EXR 580 $70,713.60
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 28,677.6 $28,612.91
30261UAJ3 FREMF 2013-K713 B 3.26092 04/25/2046 US 1,350,000 $1,353,593.70
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 124,489,464.34 $351,906.82
30303M102 FACEBOOK INC -A US FB 15,475 $2,873,243.25
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,050 $10,269.00
311900104 FASTENAL CO US FAST 482 $14,758.84
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,232.17 $1,388.29
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 176,689.09 $199,685.03
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 181,164.97 $207,765.00
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 186,816.41 $210,381.95
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 102,230.75 $115,775.17
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 127,658.52 $141,585.28
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 9,143.37 $9,477.28
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 18,843.23 $19,315.74
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 12,872.53 $13,230.37
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 11,037.02 $11,426.03
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 18,599.95 $19,218.56
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 236,218.29 $265,898.90
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 642,468.47 $689,120.02
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,451,321.45 $1,572,754.13
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,244,748.27 $1,277,798.17
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 815,688.39 $862,919.51
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 663,809.43 $695,771.68
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 2,485.07 $2,489.83
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 1,330,000 $1,364,477.50
3136AY6W8 FNA 2017-M15 A1 3.05802 09/25/2027 US 1,270,532.38 $1,336,060.21
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 1,220,466.69 $1,291,425.60
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 305 $39,409.05
3137A2B34 FHMS K009 X1 FLT 1.42756 08/25/2020 US 12,437,358.64 $114,764.48
3137ADTK3 FHMS K014 X1 FLT 1.32350 04/25/2021 US 7,746,804.88 $122,550.58
3137AJMG6 FMHS K016 X1 FLT 1.63450 10/25/2021 US 4,979,359.07 $135,297.15
3137AME78 FHMS K017 X1 FLT 1.44542 12/25/2021 US 7,718,917.17 $186,742.99
3137AUPF0 FHMS K021 x1 FLT 1.56444 06/25/2022 US 9,670,006.72 $332,821.32
3137B3NB0 FHMS K030 X1 FLT 0.30107 04/25/2023 US 50,190,826.09 $320,408.20
3137B4GZ3 FHMS K032 X1 FLT 0.21295 05/25/2023 US 37,755,733.8 $155,802.81
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 1,391,775.44 $1,420,269.40
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 1,268,892.59 $1,291,592.44
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 607,646.28 $696,131.62
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 516,458.33 $592,107.11
3138ERN30 FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 US 1,091,158.74 $1,133,620.88
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 US 1,579,348.53 $1,786,409.10
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 2,154,585.89 $2,262,873.50
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 738,164.88 $785,796.73
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 425,351.75 $481,100.43
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 602,125.94 $631,970.31
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 2,033,402.71 $2,122,249.11
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 411,015.21 $434,985.61
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 571,175.27 $603,953.65
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 1,571,591.36 $1,660,497.84
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 1,868,155.76 $2,003,563.41
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 1,869,133.47 $1,982,480.85
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 1,045,425.41 $1,121,680.16
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 1,756,054.85 $1,884,813.76
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 1,602,666.06 $1,663,890.20
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 13,475.87 $13,777.19
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 15,199.54 $15,543.34
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 83,015.3 $84,270.52
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 98,979.23 $100,412.17
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 361,903.55 $414,854.61
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 810,341.97 $928,220.64
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 3,041.26 $3,069.17
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 67,515.08 $68,535.21
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 735,263.76 $795,823.99
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 525,876.58 $563,339.58
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 486,499.93 $521,546.13
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 1,812,329.11 $1,884,720.68
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 1,532,957.09 $1,578,107.46
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,660,800.01 $1,722,836.52
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 2,280,443.35 $2,384,452.75
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 1,147,620.61 $1,192,682.77
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 2,107,187.64 $2,170,031.84
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 39,636.23 $45,380.64
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 122,644.91 $140,528.52
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 15,880.46 $16,682.55
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 75,000 $79,500.00
316773100 FIFTH THIRD BANCORP US FITB 566 $14,970.70
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,005 $78,094.75
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 60,000 $60,187.50
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 55,000 $59,056.25
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 60,000 $61,800.00
35563BAJ9 FREMF 2014-K37 B FLT 4.71438 01/25/2047 US 1,657,000 $1,810,609.04
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 155,000 $157,945.00
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 589,000 $588,018.67
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 39,778.35 $40,074.77
364760108 GAP INC US GPS 436 $6,884.44
369550108 GENERAL DYNAMICS CORP US GD 129 $24,673.83
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,910,000 $1,733,325.00
370334104 GENERAL MLS INC US GIS 462 $24,855.60
37045VAR1 GENERAL MOTORS CO FLT 3.35300 09/10/2021 US 1,800,000 $1,798,328.84
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 2,120,000 $2,123,910.11
372460105 GENUINE PARTS CO US GPC 150 $13,543.50
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B07DRZ5 RECORDATI SPA IT REC IM 2,535 $111,228.49
B08K3S0 LOCALIZA RENT A CAR BR RENT3 BZ 1,400 $16,008.21
B0C2CQ3 ENGIE FR ENGI FP 2,380 $36,187.36
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 2,100 $25,670.61
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 6,900 $93,614.48
B11ZRK9 LEGRAND SA FR LR FP 325 $22,945.69
B13X013 EIFFAGE FR FGR FP 325 $33,677.47
B15C557 TOTAL SA FR FP FP 2,130 $106,369.04
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 7,045 $101,248.34
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,900 $46,454.36
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 1,105 $49,213.06
B1XH026 VINCI SA FR DG FP 1,090 $119,090.07
B1Y47Y7 GERRESHEIMER AG DE GXI GR 625 $47,229.41
B1Y9TB3 DANONE FR BN FP 3,021 $270,648.44
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 8,180 $67,853.43
B1YXBJ7 AIR LIQUIDE FR AI FP 535 $74,541.58
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 47,200 $34,452.07
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 4,520 $31,688.77
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,805 $82,038.98
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 1,200 $15,546.97
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $171,062.10
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $337,996.27
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 800 $7,022.46
B4JSTL6 WYNN MACAU LTD MO 1128 HK 35,200 $70,148.30
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $277,332.40
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 32,400 $48,386.84
B4R2R50 JULIUS BAER CH BAER SW 1,205 $47,827.17
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 900 $9,239.07
B5B23W2 SANDS CHINA LTD MO 1928 HK 16,000 $72,435.80
B5VJH76 BDO UNIBANK INC PH BDO PM 17,450 $49,931.22
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 8,562,000 $429,059.09
B63QM77 NEXON CO LTD JP 3659 JP 254,800 $3,438,422.65
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,633.90
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 19,700 $16,621.41
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 600 $13,406.91
B92RW83 LT GROUP INC PH LTG PM 54,800 $15,558.64
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 1,800 $14,261.77
BB22L96 KION GROUP AG DE KGX GR 990 $47,976.61
BBG00NLGTT23 AMZN US 09/20/19 P1630 US -6 -$3,690.00
BBG00PP3KFV0 ATVI US 08/30/19 P44.5 US -221 -$442.00
BBG00PP80KG7 FB US 08/30/19 P185 US -53 -$53.00
BBG00PTP1R24 JNJ US 09/06/19 P122 US -80 -$720.00
BBG00PTRX541 NOW US 09/06/19 C270 US -36 -$3,852.00
BBG00PVQXVM3 DLTR US 09/06/19 P90 US -168 -$1,344.00
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,237 $23,964.94
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 4,590 $53,010.34
BD4TZK8 OCI NV NL OCI NA 835 $18,320.79
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 7,250 $73,481.37
BD9Y9B7 BASIC-FIT NV NL BFIT NA 2,385 $74,848.07
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 3,630 $113,395.04
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 11,560 $17,320.85
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 5,200 $56,520.65
BG7ZWY7 AMBEV SA BR ABEV3 BZ 11,400 $51,838.20
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 41,405 $66,802.81
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 96,640 $93,512.08
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,573 $140,997.17
BJT1GR5 ALCON INC CH ALC SW 920 $55,946.30
BMJ6DW5 INFORMA PLC GB INF LN 10,330 $109,409.37
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 79,636 $3,287,814.73
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 9,000 $39,293.93
BNGN9Z1 FINECOBANK SPA IT FBK IM 7,995 $82,793.76
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 94,180 $2,914,281.83
BSQXJ01 THULE GROUP AB/THE SE THULE SS 5,010 $99,554.73
BVSS790 ELIS SA FR ELIS FP 1,825 $32,473.26
BYXS699 QIAGEN N.V. NL QIA GR 1,907 $66,457.68
BYXZ2W5 RUMO SA BR RAIL3 BZ 2,900 $15,581.99
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 35,640 $3,368,660.85
BYZFYS3 SPIE SA FR SPIE FP 890 $16,150.38
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 14,870 $69,662.00
BYZR014 AMUNDI SA FR AMUN FP 720 $46,027.50
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,435 $39,548.60
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 1,950 $109,863.00
G29183103 EATON CORP PLC US ETN 306 $24,700.32
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 60,000 $62,100.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 2,980 $46,637.00
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 845 $108,286.75
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 581 $24,802.89
G5960L103 MEDTRONIC INC IE MDT 55,086 $5,943,228.54
G97822103 PERRIGO CO PLC IE PRGO 1,695 $79,292.10
H01301128 ALCON INC CH ALC 11,205 $683,056.80
H1467J104 CHUBB LTD CH CB 188 $29,380.64
H8817H100 TRANSOCEAN LTD US RIG 91,500 $416,325.00
N22717107 CORE LABORATORIES N.V. NL CLB 805 $31,869.95
N47279109 INTERXION HOLDING NV NL INXN 34,570 $2,798,095.80
N53745100 LYONDELLBASELL INDU-CL A US LYB 281 $21,743.78
N72482123 QIAGEN N.V. ADR NL QGEN 1,126 $39,060.94
USD US DOLLAR US 2,883,652.98 $2,883,652.98

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class L Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

Daily Price

$10.18

Daily $ Change

-$0.05

Daily % Change

-0.49%

as of 09/13/2019

Ticker

MNMCX

CUSIP

56382P625

Inception Date

01/04/2010

Investment Minimum

$2,000.00

Prior to 03/01/2019, the Class L shares were designated as the Class R2 shares. Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

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

Investment Objective

To provide 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 08/31/2019

YTD

12.32%

1 Year

6.03%

3 Year

4.86%

5 Year

2.37%

10 Year

5.37%

Inception
(09/15/1993)

5.78%

US Stock Market Cycle (04/01/2000 - 08/31/2019)

5.13%

Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 01/04/2010 (the inception date of the Class L shares), performance for the Class L shares is hypothetical and is based on the historical performance of the Class S shares adjusted for the Class L shares’ charges and expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.75%*

Includes a 12b-1 fee of 1.00%, of which up to 0.25% is available as a shareholder servicing fee.

Top Ten Investments

As of 08/31/2019

TREASURY NOTES 11.16%
GOVERNMENT AGENCY 10.90%
TREASURY BONDS 8.10%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.00%
TSY INFL IX N/B 0.50000 04/15/2024 1.50%
MEDTRONIC INC 1.47%
MASTERCARD INC-CLASS A 1.27%
NOVARTIS AG- REG 1.19%
VISA INC - CLASS A SHARES 1.13%
MICROSOFT CORP 1.12%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2019

Bonds
62.43%
Stocks
36.86%
Cash
0.71%

Detailed Asset Class Allocation

As of 08/31/2019

International Equities
14.86%
Small Capitalization
0.33%
Mid Capitalization
0.74%
Large Capitalization
20.92%
Long Term Fixed Income
21.65%
Intermediate Term Fixed Income
32.10%
Short Term Fixed Income
8.69%
Cash
0.71%

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 08/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 40,000 $42,500.00
00101JAM8 ADT CORP 5.25000 03/15/2020 US 40,000 $40,400.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 2,350,000 $2,585,660.07
00287Y109 ABBVIE INC US ABBV 735 $48,318.90
004239109 ACADIA REALTY TRUST US AKR 1,335 $36,512.25
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 40,000 $36,838.40
00507V109 ACTIVISION INC US ATVI 56,590 $2,863,454.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,430,000 $2,606,019.67
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 40,000 $39,800.00
008492100 AGREE REALTY CORP US ADC 825 $61,619.25
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 40,000 $41,000.00
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 310 $46,450.40
01609W102 ALIBABA GROUP - ADR CN BABA 810 $141,774.30
020002101 ALLSTATE CORPORATION US ALL 175 $17,918.25
02079K107 ALPHABET INC-CL C US GOOG 1,870 $2,221,747.00
02079K305 ALPHABET INC-CL A US GOOGL 1,865 $2,220,338.45
023135106 AMAZON.COM INC US AMZN 1,605 $2,850,945.45
02319V103 AMBEV SA-ADR BR ABEV 168,061 $762,996.94
0237400 DIAGEO PLC GB DGE LN 40,533 $1,735,365.68
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 615,000 $615,922.50
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,320 $61,353.60
0263494 BAE SYSTEMS PLC GB BA/ LN 16,175 $107,565.57
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,060 $206,174.80
0287580 BRITISH AMERICAN TOBACCO PLC GB BATS LN 2,775 $97,342.14
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 100,000 $100,745.80
03027X100 AMERICAN TOWER REIT INC US AMT 7,340 $1,689,594.60
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 71,979.75 $72,724.98
03064D108 AMERICOLD REALTY TRUST US COLD 3,235 $117,818.70
031162100 AMGEN INC US AMGN 326 $68,010.12
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 40,000 $36,300.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 2,591 $132,141.00
038222105 APPLIED MATERIALS INC US AMAT 492 $23,625.84
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 344 $13,089.20
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 20,875 $21,605.63
0405207 HALMA PLC GB HLMA LN 2,535 $60,800.11
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 30,000 $29,700.00
0490656 KERRY GROUP PLC-A IE KYGA LN 930 $110,592.61
05278C107 AUTOHOME INC-ADR CN ATHM 955 $83,237.80
053484101 AVALONBAY COMMUNITIES INC US AVB 1,170 $248,695.20
054937107 BB&T CORP US BBT 368 $17,535.20
05722G100 BAKER HUGHES A GE CO US BHGE 601 $13,035.69
060505104 BANK OF AMERICA CORP US BAC 2,411 $66,326.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 3,530,000 $3,771,081.03
0673123 ASSOCIATED BRITISH FOODS PLC GB ABF LN 3,610 $99,875.39
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 19,375 $3,941,068.75
086516101 BEST BUY INC US BBY 239 $15,212.35
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 16,370 $1,228,732.20
0922320 SMITH & NEPHEW PLC GB SN/ LN 5,095 $122,090.68
09247X101 BLACKROCK INC US BLK 1,610 $680,321.60
0946580 WEIR GROUP PLC/THE GB WEIR LN 4,140 $74,049.10
097023105 BOEING CO US BA 225 $81,920.25
09857L108 BOOKING HOLDINGS INC US BKNG 785 $1,543,631.85
101121101 BOSTON PROPERTIES INC US BXP 1,325 $170,156.50
105368203 BRANDYWINE REALTY TRUST US BDN 10,745 $154,190.75
110122108 BRISTOL MYERS SQUIBB CO US BMY 811 $38,984.77
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,170 $41,067.00
11135F101 BROADCOM INC US AVGO 181 $51,157.84
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 40,000 $28,500.00
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 40,000 $38,200.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 13,770 $1,640,833.20
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 40,000 $41,100.00
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 160 $13,518.40
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 562,743.07 $580,619.84
12572Q105 CME GROUP INC US CME 7,700 $1,673,133.00
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 934,664.28 $926,535.13
126650100 CVS HEALTH CORP US CVS 670 $40,816.40
12686CBA6 CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 US 40,000 $41,150.00
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 1,850,000 $1,933,335.47
133131102 CAMDEN PROPERTY TRUST US CPT 1,025 $110,956.25
13321L108 CAMECO CORP CA CCJ 6,234 $54,672.18
149123101 CATERPILLAR INC US CAT 278 $33,082.00
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 20,491.69 $20,466.96
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 960,018.15 $966,881.99
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 40,000 $40,700.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 2,776,729.89 $2,773,020.46
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,925 $49,568.75
166764100 CHEVRON CORP US CVX 569 $66,982.68
17275R102 CISCO SYSTEMS INC US CSCO 1,680 $78,640.80
172967424 CITIGROUP INC US C 705 $45,366.75
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,080,000 $1,804,857.38
191216100 COCA COLA CO/THE US KO 60,530 $3,331,571.20
192422103 COGNEX CORP US CGNX 16,655 $750,807.40
194162103 COLGATE-PALMOLIVE CO US CL 510 $37,816.50
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 1,765 $111,091.33
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,220 $94,660.80
205887102 CONAGRA BRAND INC. US CAG 392 $11,117.12
222795502 COUSINS PROPERTIES INC US CUZ 6,257 $217,117.90
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 2,620,000 $2,648,048.65
22822V101 CROWN CASTLE INTL CORP US CCI 910 $132,104.70
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 639,438.75 $626,650.61
229663109 CUBESMART US CUBE 1,055 $37,863.95
231021106 CUMMINS INC US CMI 124 $18,509.48
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 2,800 $31,245.59
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,745 $16,823.79
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 23,200 $42,483.85
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 11,200 $33,348.47
2521800 LOBLAW COMPANIES LTD CA L CN 2,180 $119,315.46
253868103 DIGITAL REALTY TRUST INC US DLR 995 $123,011.85
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,160,000 $2,443,220.69
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 40,000 $41,400.00
25960P109 DOUGLAS EMMETT INC US DEI 2,620 $110,564.00
260557103 DOW INC US DOW 387 $16,497.81
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 250,000 $258,125.00
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 286,000 $263,120.00
269246401 ETRADE FINANCIAL CORP US ETFC 16,360 $682,866.40
2715777 QUEBECOR INC -CL B CA QBR/B CN 33,585 $756,507.55
277432100 EASTMAN CHEM CO US EMN 151 $9,870.87
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 43,130 $819,580.14
285512109 ELECTRONIC ARTS US EA 23,425 $2,194,454.00
2866857 LUNDIN MINING CORP CA LUN CN 4,265 $20,341.56
291011104 EMERSON ELEC CO US EMR 421 $25,087.39
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,620,000 $1,967,729.10
29444U700 EQUINIX INC US EQIX 4,755 $2,645,111.40
2945422 WEG SA BR WEGE3 BZ 2,100 $11,319.01
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 860 $115,859.20
29476L107 EQUITY RESIDENTIAL US EQR 2,450 $207,662.00
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 3,915 $88,909.65
297178105 ESSEX PROPERTY TRUST INC US ESS 615 $197,574.90
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 3,700,000 $3,724,576.66
30225T102 EXTRA SPACE STORAGE INC US EXR 580 $70,713.60
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 28,677.6 $28,612.91
30261UAJ3 FREMF 2013-K713 B 3.26092 04/25/2046 US 1,350,000 $1,353,593.70
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 124,489,464.34 $351,906.82
30303M102 FACEBOOK INC -A US FB 15,475 $2,873,243.25
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,050 $10,269.00
311900104 FASTENAL CO US FAST 482 $14,758.84
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,232.17 $1,388.29
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 176,689.09 $199,685.03
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 181,164.97 $207,765.00
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 186,816.41 $210,381.95
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 102,230.75 $115,775.17
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 127,658.52 $141,585.28
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 9,143.37 $9,477.28
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 18,843.23 $19,315.74
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 12,872.53 $13,230.37
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 11,037.02 $11,426.03
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 18,599.95 $19,218.56
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 236,218.29 $265,898.90
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 642,468.47 $689,120.02
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,451,321.45 $1,572,754.13
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 1,244,748.27 $1,277,798.17
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 815,688.39 $862,919.51
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 663,809.43 $695,771.68
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832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 111 $11,672.76
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 160,997.36 $160,722.94
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 300,000 $306,883.56
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 5,833.95 $5,830.08
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 925,431.16 $933,263.18
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 440,205.17 $441,281.96
835699307 SONY CORP SPONSORED ADR JP SNE 53,405 $3,039,278.55
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 2,270,000 $2,307,076.14
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 40,000 $35,000.00
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 40,000 $43,028.00
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 35,000 $38,691.10
85254J102 STAG INDUSTRIAL INC US STAG 2,260 $65,720.80
855030AN2 STAPLES INC 7.50000 04/15/2026 US 60,000 $60,600.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.41513 11/15/2027 US 1,579,803.39 $1,576,414.24
862121100 STORE CAPITAL CORP US STOR 1,315 $49,654.40
866674104 SUN COMMUNITIES US SUI 1,030 $152,234.00
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 3,210 $42,179.40
867914103 SUNTRUST BANKS INC US STI 286 $17,591.86
871829107 SYSCO CORP US SYY 361 $26,833.13
874080104 TAL EDUCATION GROUP - ADR CN TAL 2,510 $89,431.30
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 239,141.46 $238,836.08
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 50,000 $43,500.00
882508104 TEXAS INSTRUMENTS INC US TXN 465 $57,543.75
88579Y101 3M CO US MMM 310 $50,133.20
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,191,131.88 $1,191,756.39
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 944,679.74 $950,064.89
89177EAA7 TPMT 2019-HY1 A1 3.14525 10/25/2048 US 880,756.12 $885,039.50
89417E109 TRAVELLERS COS INC US TRV 132 $19,398.72
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 1,163,898.73 $1,163,040.82
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,246,864.21 $1,273,629.65
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 80,000 $74,500.80
902494103 TYSON FOODS INC -CL A US TSN 207 $19,259.28
902653104 UDR INC US UDR 2,040 $98,287.20
902973304 U.S. BANCORP US USB 836 $44,048.84
903002103 UMH PROPERTIES INC US UMH 2,885 $37,101.10
904767704 UNILEVER PLC - ADR GB UL 44,679 $2,822,819.22
907818108 UNION PAC CORP US UNP 335 $54,256.60
911312106 UNITED PARCEL SERVICE US UPS 492 $58,380.72
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 5,781,000 $8,476,842.86
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 5,409,000 $7,905,380.29
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 2,241,407.96 $2,459,935.20
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 7,418,000 $8,228,474.43
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 6,720,000 $8,211,262.48
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 3,985,000 $4,053,959.19
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 5,956,494 $6,080,458.53
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 7,730,000 $8,082,681.25
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 12,269,805.28 $12,153,577.59
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 8,177,000 $8,264,519.41
912828VB3 UNITED STATES TREAS NTS 1.75000 05/15/2023 US 7,505,000 $7,592,656.07
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 8,353,000 $8,906,386.25
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,035,000 $8,337,567.97
913017109 UNITED TECHNOLOGIES CORP US UTX 394 $51,314.56
91704F104 URBAN EDGE PROPERTIES US UE 5,210 $91,227.10
918204108 VF CORP US VFC 280 $22,946.00
91913Y100 VALERO ENERGY US VLO 300 $22,584.00
92189F106 MARKET VECTORS GOLD MINERS US 9,091 $271,457.26
92276F100 VENTAS INC US VTR 2,720 $199,620.80
92339V100 VEREIT INC US VER 14,065 $137,133.75
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 2,920,000 $3,917,949.68
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 5,430 $977,508.60
92553P201 VIACOM INC CL B US VIAB 378 $9,442.44
92826C839 VISA INC - CLASS A SHARES US V 25,390 $4,591,019.80
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 60,000 $58,950.00
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 350,000 $353,594.08
929042109 VORNADO REALTY TRUST US VNO 705 $42,631.35
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 20,000 $19,300.00
93065PAA9 WBHT 2019-WBM A FLT 3.24513 12/15/2033 US 965,000 $959,077.89
931142103 WAL MART STORES US WMT 1,010 $115,402.60
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 534 $27,335.46
94106L109 WASTE MANAGEMENT INC US WM 275 $32,821.25
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 80,000 $80,000.00
948741103 WEINGARTEN REALTY INVESTORS US WRI 3,370 $89,271.30
949746101 WELLS FARGO COMPANY US WFC 1,805 $84,058.85
95040Q104 WELLTOWER INC. US WELL 1,705 $152,699.80
958102105 WESTERN DIGITAL CORP US WDC 274 $15,691.98
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,840,000 $1,918,664.66
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 555,786.5 $557,676.62
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 731,549.41 $744,951.40
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 85,000 $79,900.00
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 10,000 $79,932.38
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 7,500 $86,047.59
B02J639 ADMIRAL GROUP PLC GB ADM LN 2,080 $54,507.55
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 12,300 $100,990.10
B037JC2 NEXITY FR NXI FP 375 $17,419.19
B058TZ6 SAFRAN SA FR SAF FP 420 $61,001.35
B068DB9 SM INVESTMENTS CORP PH SM PM 2,690 $53,002.82
B07DRZ5 RECORDATI SPA IT REC IM 2,535 $111,228.49
B08K3S0 LOCALIZA RENT A CAR BR RENT3 BZ 1,400 $16,008.21
B0C2CQ3 ENGIE FR ENGI FP 2,380 $36,187.36
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 2,100 $25,670.61
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 6,900 $93,614.48
B11ZRK9 LEGRAND SA FR LR FP 325 $22,945.69
B13X013 EIFFAGE FR FGR FP 325 $33,677.47
B15C557 TOTAL SA FR FP FP 2,130 $106,369.04
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 7,045 $101,248.34
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,900 $46,454.36
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 1,105 $49,213.06
B1XH026 VINCI SA FR DG FP 1,090 $119,090.07
B1Y47Y7 GERRESHEIMER AG DE GXI GR 625 $47,229.41
B1Y9TB3 DANONE FR BN FP 3,021 $270,648.44
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 8,180 $67,853.43
B1YXBJ7 AIR LIQUIDE FR AI FP 535 $74,541.58
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 47,200 $34,452.07
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 4,520 $31,688.77
B3NB1P2 SUNCOR ENERGY INC CA SU CN 2,805 $82,038.98
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 1,200 $15,546.97
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $171,062.10
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $337,996.27
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 800 $7,022.46
B4JSTL6 WYNN MACAU LTD MO 1128 HK 35,200 $70,148.30
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $277,332.40
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 32,400 $48,386.84
B4R2R50 JULIUS BAER CH BAER SW 1,205 $47,827.17
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 900 $9,239.07
B5B23W2 SANDS CHINA LTD MO 1928 HK 16,000 $72,435.80
B5VJH76 BDO UNIBANK INC PH BDO PM 17,450 $49,931.22
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 8,562,000 $429,059.09
B63QM77 NEXON CO LTD JP 3659 JP 254,800 $3,438,422.65
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,633.90
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 19,700 $16,621.41
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 600 $13,406.91
B92RW83 LT GROUP INC PH LTG PM 54,800 $15,558.64
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 1,800 $14,261.77
BB22L96 KION GROUP AG DE KGX GR 990 $47,976.61
BBG00NLGTT23 AMZN US 09/20/19 P1630 US -6 -$3,690.00
BBG00PP3KFV0 ATVI US 08/30/19 P44.5 US -221 -$442.00
BBG00PP80KG7 FB US 08/30/19 P185 US -53 -$53.00
BBG00PTP1R24 JNJ US 09/06/19 P122 US -80 -$720.00
BBG00PTRX541 NOW US 09/06/19 C270 US -36 -$3,852.00
BBG00PVQXVM3 DLTR US 09/06/19 P90 US -168 -$1,344.00
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,237 $23,964.94
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 4,590 $53,010.34
BD4TZK8 OCI NV NL OCI NA 835 $18,320.79
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 7,250 $73,481.37
BD9Y9B7 BASIC-FIT NV NL BFIT NA 2,385 $74,848.07
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 3,630 $113,395.04
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 11,560 $17,320.85
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 5,200 $56,520.65
BG7ZWY7 AMBEV SA BR ABEV3 BZ 11,400 $51,838.20
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 41,405 $66,802.81
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 96,640 $93,512.08
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,573 $140,997.17
BJT1GR5 ALCON INC CH ALC SW 920 $55,946.30
BMJ6DW5 INFORMA PLC GB INF LN 10,330 $109,409.37
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 79,636 $3,287,814.73
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 9,000 $39,293.93
BNGN9Z1 FINECOBANK SPA IT FBK IM 7,995 $82,793.76
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 94,180 $2,914,281.83
BSQXJ01 THULE GROUP AB/THE SE THULE SS 5,010 $99,554.73
BVSS790 ELIS SA FR ELIS FP 1,825 $32,473.26
BYXS699 QIAGEN N.V. NL QIA GR 1,907 $66,457.68
BYXZ2W5 RUMO SA BR RAIL3 BZ 2,900 $15,581.99
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 35,640 $3,368,660.85
BYZFYS3 SPIE SA FR SPIE FP 890 $16,150.38
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 14,870 $69,662.00
BYZR014 AMUNDI SA FR AMUN FP 720 $46,027.50
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,435 $39,548.60
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 1,950 $109,863.00
G29183103 EATON CORP PLC US ETN 306 $24,700.32
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 60,000 $62,100.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 2,980 $46,637.00
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 845 $108,286.75
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 581 $24,802.89
G5960L103 MEDTRONIC INC IE MDT 55,086 $5,943,228.54
G97822103 PERRIGO CO PLC IE PRGO 1,695 $79,292.10
H01301128 ALCON INC CH ALC 11,205 $683,056.80
H1467J104 CHUBB LTD CH CB 188 $29,380.64
H8817H100 TRANSOCEAN LTD US RIG 91,500 $416,325.00
N22717107 CORE LABORATORIES N.V. NL CLB 805 $31,869.95
N47279109 INTERXION HOLDING NV NL INXN 34,570 $2,798,095.80
N53745100 LYONDELLBASELL INDU-CL A US LYB 281 $21,743.78
N72482123 QIAGEN N.V. ADR NL QGEN 1,126 $39,060.94
USD US DOLLAR US 2,883,652.98 $2,883,652.98

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class L Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.


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