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

$15.83

Daily $ Change

$0.02

Daily % Change

0.13%

as of 11/24/2021

Ticker

EXBAX

CUSIP

563821776

Inception Date

09/15/1993

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
N-Port Part F Reports

Performance

As of 10/31/2021

YTD

7.29%

1 Year

15.78%

3 Year

12.27%

5 Year

8.58%

10 Year

6.92%

Inception
(09/15/1993)

6.91%

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 1.07%*

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

Top Ten Investments

As of 10/31/2021

TREASURY NOTES 21.16%
GOVERNMENT AGENCY 2.48%
AMAZON.COM INC 2.03%
ALPHABET INC-CL A 1.98%
META PLATFORMS INC 1.81%
MICROSOFT CORP 1.28%
SBA COMMUNICATIONS CORP 1.14%
JOHNSON & JOHNSON 1.13%
TENCENT HOLDINGS 3.97500 04/11/2029 1.08%
UNILEVER PLC - ADR 1.08%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Bonds 53.21%
Stocks 43.88%
Cash 2.91%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities 11.98%
Small Capitalization 0.91%
Mid Capitalization 4.30%
Large Capitalization 26.68%
Long Term Fixed Income 16.68%
Intermediate Term Fixed Income 30.61%
Short Term Fixed Income 5.93%
Cash 2.91%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 2,690,000 $2,730,602.43
008474108 AGNICO EAGLE MINES LTD CA AEM 26,313 $1,395,904.65
008492100 AGREE REALTY CORP US ADC 1,509 $107,229.54
009126202 AIR LIQUIDE-ADR FR AIQUY 83,671 $2,796,284.82
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,220,000 $1,302,250.41
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 181,835.32 $205,083.97
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,440,000 $2,644,436.69
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 1,800,000 $1,791,488.88
020002101 ALLSTATE CORPORATION US ALL 413 $51,075.71
02079K305 ALPHABET INC-CL A US GOOGL 3,323 $9,839,137.16
023135106 AMAZON.COM INC US AMZN 2,980 $10,049,841.40
0237400 DIAGEO PLC GB DGE LN 35,973 $1,789,717.51
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,398 $236,260.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,235 $334,341.00
03027X100 AMERICAN TOWER REIT INC US AMT 9,555 $2,694,223.35
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 3,680,000 $4,045,968.57
032654105 ANALOG DEVICES INC US ADI 429 $74,427.21
03784Y200 APPLE HOSPITALITY REIT INC US APLE 13,277 $208,581.67
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 155,000 $162,963.46
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 790 $50,749.60
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,220,000 $1,287,282.02
053015103 AUTOMATIC DATA PROCESSING US ADP 441 $99,000.09
053484101 AVALONBAY COMMUNITIES INC US AVB 991 $234,549.88
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 3,440,000 $3,406,399.04
055622104 BP PLC-SPONS ADR GB BP 30,852 $888,229.08
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,140,000 $1,298,517.00
05591XAA9 BRSP 2021-FL1 A 1.23038 08/19/2038 US 1,100,000 $1,099,999.67
067901108 BARRICK GOLD CORP CA GOLD 78,729 $1,446,251.73
084423102 WR BERKLEY CORP US WRB 30,071 $2,393,651.60
086516101 BEST BUY INC US BBY 405 $49,507.20
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 42,797 $3,390,806.31
09261HAC1 BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 1,370,000 $1,346,549.05
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,300,000 $1,312,003.93
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 4,079 $285,814.55
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 272 $23,625.92
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 3,340,000 $3,367,118.03
105368203 BRANDYWINE REALTY TRUST US BDN 9,326 $123,569.50
10638MAA8 BABS 2021-RM2 A 1.75000 10/25/2061 US 1,400,000 $1,358,317.52
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,923 $112,303.20
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 195 $34,789.95
12345678 JONAH ENERGY PARENT LLC US 5,224 $326,500.00
125269100 CF INDUSTRIES HOLDINGS INC US CF 451 $25,616.80
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 955,211.17 $955,397.44
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 832,851.22 $827,837.96
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 258 $25,023.42
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 102,651.31 $103,835.79
12565KAA5 CLIF 2021-1A A MTGE 1.64000 02/18/2046 US 1,913,772.62 $1,875,806.24
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 438,399.22 $444,458.03
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 335,133.89 $335,602.84
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 174,693.4 $175,700.39
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 87,573.69 $88,819.63
133131102 CAMDEN PROPERTY TRUST US CPT 1,297 $211,540.70
13321L108 CAMECO CORP CA CCJ 89,116 $2,165,518.80
134429109 CAMPBELL SOUP CO US CPB 550 $21,972.50
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 24,086 $3,201,270.26
14174T107 CARETRUST REIT INC US CTRE 4,668 $96,861.00
149123101 CATERPILLAR INC US CAT 518 $105,677.18
15135UAF6 CENOVUS ENERGY INC 6.75000 11/15/2039 CA 3,020,000 $4,134,348.50
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 460,000 $504,850.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 4,473 $3,018,782.97
172062101 CINCINNATI FINANCIAL CORP US CINF 279 $33,881.76
17275R102 CISCO SYSTEMS INC US CSCO 3,148 $176,193.56
172967424 CITIGROUP INC US C 1,814 $125,456.24
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,135,000 $2,394,933.79
17329PAY8 CMLTI 2021-INV1 2.50000 05/25/2051 US 724,740.6 $732,346.75
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,530,000 $2,476,692.90
189054109 CLOROX COMPANY US CLX 193 $31,460.93
191216100 COCA COLA CO/THE US KO 61,196 $3,449,618.52
194162103 COLGATE-PALMOLIVE CO US CL 943 $71,847.17
20030N101 COMCAST CORP-CL A US CMCSA 3,257 $167,507.51
200340107 COMERICA INC US CMA 286 $24,335.74
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 908,299.25 $925,684.37
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,873 $185,284.32
205887102 CONAGRA BRAND INC. US CAG 830 $26,726.00
20825C104 CONOCOPHILLIPS US COP 25,554 $1,903,517.46
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 9,005 $162,990.50
217204106 COPART INC US CPRT 13,149 $2,041,908.21
222795502 COUSINS PROPERTIES INC US CUZ 7,130 $282,419.30
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,583,000 $1,602,052.67
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 2,230,000 $2,239,882.91
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 1,800,000 $1,795,458.78
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,332,000 $2,438,972.66
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 212,299.06 $214,151.16
231021106 CUMMINS INC US CMI 213 $51,085.92
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 141,300 $223,329.22
253868103 DIGITAL REALTY TRUST INC US DLR 2,082 $328,560.42
256677105 DOLLAR GENERAL CORP US DG 9,538 $2,112,857.76
256746108 DOLLAR TREE STORES INC US DLTR 17,064 $1,838,816.64
25960P109 DOUGLAS EMMETT INC US DEI 3,334 $108,955.12
262006208 DREYFUS GVT CSH MANAGEMENT US 14,837,173.73 $14,837,173.73
264411505 DUKE RLTY INVTS INC US DRE 6,574 $369,721.76
26884L109 EQT CORP US EQT 111,467 $2,219,307.97
277432100 EASTMAN CHEM CO US EMN 245 $25,487.35
285512109 ELECTRONIC ARTS US EA 12,644 $1,773,321.00
291011104 EMERSON ELEC CO US EMR 754 $73,145.54
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,728,000 $3,551,016.62
29444U700 EQUINIX INC US EQIX 3,370 $2,820,925.90
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 3,568 $301,531.68
297178105 ESSEX PROPERTY TRUST INC US ESS 870 $295,739.10
30212P303 EXPEDIA INC US EXPE 19,299 $3,172,948.59
30212PAR6 EXPEDIA GROUP INC 3.25000 02/15/2030 US 1,290,000 $1,326,717.59
30225T102 EXTRA SPACE STORAGE INC US EXR 1,353 $267,041.61
30231G102 EXXON MOBIL CORP US XOM 25,569 $1,648,433.43
302491303 FMC CORP US FMC 43,353 $3,945,556.53
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 495,000 $514,800.00
30287EAE0 FREMF 2014-K41 B FLT 3.83340 11/25/2047 US 48,000 $51,218.80
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 139,754,939.4 $132,851.05
30303M102 META PLATFORMS INC US FB 27,724 $8,970,654.68
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 95,969.26 $112,600.33
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 120,685.5 $142,663.59
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 58,581.95 $68,212.49
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 79,205.52 $93,441.77
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,406.15 $1,440.53
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 329.89 $331.07
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 272.68 $273.59
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 1,258.14 $1,276.84
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,716.95 $1,741.46
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 90,270.48 $98,369.40
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 410,079.19 $450,069.87
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 6,329.62 $6,946.81
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 10,014.33 $10,991.09
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 743,670.97 $831,435.85
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 175,659.25 $186,627.90
3136AY6W8 FNA 2017-M15 A1 FLT 2.95925 09/25/2027 US 1,341,327.26 $1,411,867.39
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 139,017.14 $143,034.53
3136BJMZ5 FNR 2021-69 WJ 1.50000 10/25/2050 US 1,053,493.57 $1,046,814.10
3137AME78 FHMS K017 X1 FLT 1.45937 12/25/2021 US 1,510,860.2 $116.64
3137AUPF0 FHMS K021 x1 FLT 1.37556 06/25/2022 US 10,559,883.99 $30,975.31
3137B3NB0 FHMS K030 X1 FLT 0.14755 04/25/2023 US 54,716,553.42 $115,430.04
3137B4GZ3 FHMS K032 X1 FLT 0.07332 05/25/2023 US 35,162,542.45 $50,437.15
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 455,666.75 $537,643.75
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 314,246.57 $370,777.51
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 131,203.22 $146,425.98
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 1,179,328.28 $1,315,532.59
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 501,272.05 $552,627.52
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 72,842.55 $77,725.99
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 80,348.56 $87,519.54
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 185.31 $186.55
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 218,277.79 $257,965.56
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 489,556.34 $578,542.14
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 62.32 $62.26
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 404,155.37 $450,204.93
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 334,112.65 $366,598.69
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 326,050.07 $357,760.98
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 440,168.12 $467,340.67
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 588,271.27 $622,401.17
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,830,764.21 $2,913,455.11
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 25,610.57 $30,265.71
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 83,174.12 $98,295.17
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 4,599.25 $4,794.62
31620R303 FNF GROUP US FNF 562 $26,925.42
316773100 FIFTH THIRD BANCORP US FITB 1,070 $46,577.10
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,541,000 $1,594,163.88
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 425,000 $511,062.50
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 100,000 $99,999.00
35563BAJ9 FREMF 2014-K37 B FLT 4.56005 01/25/2047 US 1,977,000 $2,114,363.94
36257MAA3 GSMS 2019-70P A 1.09000 10/15/2036 US 1,342,000 $1,339,456.10
36262LAJ9 GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 1,115,168.42 $1,135,816.88
36263CAH2 GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 1,132,240.33 $1,148,223.03
36263KAJ0 GSMBS 2021-INV1 A9 0.89867 12/25/2051 US 1,345,612.2 $1,349,024.00
369550108 GENERAL DYNAMICS CORP US GD 344 $69,746.00
36962G4B7 GENERAL ELECTRIC CO 6.87500 01/10/2039 US 1,340,000 $2,038,262.28
370334104 GENERAL MLS INC US GIS 830 $51,294.00
372460105 GENUINE PARTS CO US GPC 258 $33,826.38
374297109 GETTY REALTY CORP US GTY 4,010 $128,801.20
375558103 GILEAD SCIENCES INC US GILD 1,287 $83,500.56
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,350,972.71 $1,357,667.86
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,011,905.02 $1,032,490.10
384802104 WW GRAINGER INC US GWW 85 $39,364.35
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 194,915 $3,884,655.95
39531G209 GREENIDGE GEN HLD INC US 10,000 $248,000.00
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 850 $107,338.00
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 544 $109,697.60
4012250 AIRBUS SE FR AIR FP 1,175 $150,731.39
4031976 ADIDAS AG DE ADS GR 684 $223,874.26
404119BX6 HCA INC 4.12500 06/15/2029 US 1,617,000 $1,791,765.44
416515104 HARTFORD FINL SVCS US HIG 575 $41,934.75
419792A22 HAWAII ST 2.68200 10/01/2038 US 1,835,000 $1,840,248.10
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 3,730 $124,544.70
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 3,386 $120,236.86
423012301 HEINEKEN NV-SPN ADR NL HEINY 34,865 $1,943,026.45
427866108 HERSHEY CO/THE US HSY 292 $51,202.20
42806MAA7 HERTZ 2021-1A A 1.21000 12/26/2025 US 1,600,000 $1,591,402.72
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 538 $77,445.10
437076102 HOME DEPOT INC US HD 700 $260,218.00
438516106 HONEYWELL INTERNATIONAL INC US HON 589 $128,767.18
443510607 HUBBELL INC US HUBB 113 $22,528.81
446150104 HUNTINGTON BANCSHARES US HBAN 1,797 $28,284.78
448579102 HYATT HOTEL US H 23,825 $2,029,890.00
44988FAD2 IIP OPERATING PARTNER 5.50000 05/25/2026 US 490,000 $517,069.78
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 155,000 $152,287.50
45168D104 IDEXX LABORATORIES INC US IDXX 2,811 $1,872,519.54
4519579 KERRY GROUP PLC-A IE KYGA ID 1,141 $153,135.44
452308109 ILLINOIS TOOL WKS INC US ITW 343 $78,159.41
452762AA5 IMPRL 2021-NQM3 1.59500 11/25/2056 US 1,260,000 $1,256,346.00
45778Q107 INSPERITY INC US NSP 17,055 $2,131,875.00
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 671 $176,533.39
458140100 INTEL CORP US INTC 2,867 $140,483.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 32,969 $4,564,887.74
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 815 $101,956.50
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 338 $49,838.10
46187BAA1 IHSFR 2017-SFR2 A 0.93600 12/17/2036 US 192,107 $191,873.55
46187BAB9 IHSFR 2017-SFR2 B 1.23600 12/17/2036 US 159,941.93 $160,070.76
46187W107 INVITATION HOMES INC US INVH 10,753 $443,561.25
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 380,000 $390,981.06
46625H100 JP MORGAN CHASE & CO US JPM 1,412 $239,884.68
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 162,014.49 $163,481.00
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 146,497.13 $148,177.96
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 375,197.7 $380,770.70
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 3,250,000 $3,356,890.58
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 18,296.54 $18,512.95
478160104 JOHNSON & JOHNSON US JNJ 34,337 $5,592,810.56
49427F108 KILROY REALTY CORP US KRC 2,616 $176,266.08
494368103 KIMBERLY CLARK CORP US KMB 438 $56,716.62
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,299,000 $3,238,712.64
500754106 KRAFT HEINZ CO/THE US KHC 1,490 $53,476.10
501044101 KROGER CO US KR 1,112 $44,502.24
502431109 L3HARRIS TECHNOLOGIES INC US LHX 263 $60,632.02
5107401 BEIERSDORF AG DE BEI GR 2,045 $217,451.88
512816109 LAMAR ADVERTISING CO-A US LAMR 813 $92,031.60
53223X107 LIFE STORAGE INC US LSI 1,387 $185,594.47
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 480,000 $493,800.00
539830109 LOCKHEED MARTIN CORP US LMT 266 $88,397.12
550021109 LULULEMON - ADR CA LULU 424 $197,588.24
5654781 ATOS SE FR ATO FP 3,597 $187,665.28
57636Q104 MASTERCARD INC-CLASS A US MA 14,592 $4,895,907.84
58278LAC0 MCREIF SUBREIT LLC 5.00000 10/15/2026 US 500,000 $500,390.00
5852842 ACCOR SA FR AC FP 6,964 $249,216.74
58933Y105 MERCK & CO INC US MRK 2,061 $181,471.05
59022CAJ2 MERRILL LYNCH 6.11000 01/29/2037 US 1,550,000 $2,094,244.35
594918104 MICROSOFT CORP US MSFT 19,179 $6,360,139.98
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,695 $346,135.95
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 66,648 $4,048,199.52
615369105 MOODY'S CORPORATION US MCO 10,208 $4,125,563.20
620076307 MOTOROLA SOLUTIONS INC US MSI 245 $60,904.55
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 99,000 $184,977.21
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 475,000 $522,770.75
63938EAC8 NAVSL 2014-1 A3 FLT 0.59925 06/25/2031 US 1,213,345.18 $1,197,733.43
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 887,318.97 $886,278.85
63942FAB1 NAVSL 2020-1A A1B 1.13925 06/25/2069 US 1,836,753.99 $1,885,579.50
64032XAA3 NSLT 2012-3A A MTGE FLT 0.78925 02/25/2045 US 307,112.88 $305,805.35
64033GAA9 NSLT 2013-5A A MTGE FLT 0.71925 01/25/2037 US 425,039.8 $426,150.00
64033NAA4 NLST 2014-5A A 0.63925 07/25/2046 US 1,610,602.03 $1,604,223.72
64033QAB5 NSLT 2015-2A A2 0.68925 09/25/2047 US 601,310.39 $600,154.37
64110D104 NETAPP INC US NTAP 398 $35,541.40
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 366,907.56 $386,379.89
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 434,042.37 $454,680.35
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 516,395.23 $549,051.08
6490995 KEYENCE CORP JP 6861 JP 200 $120,722.96
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 685,000 $697,343.70
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,280,000 $1,295,818.55
651639106 NEWMONT GOLDCORP CORP US NEM 30,623 $1,653,642.00
65341D102 NEXPOINT RESIDENTIAL US NXRT 1,800.35 $127,500.77
655844108 NORFOLK SOUTHN CORP US NSC 6,711 $1,966,658.55
6642321 NIKON CORP JP 7731 JP 158,400 $1,746,480.38
666807102 NORTHROP GRUMMAN CORP US NOC 195 $69,657.90
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 497,000 $49.70
66987V109 NOVARTIS AG- REG CH NVS 44,752 $3,703,675.52
670346105 NUCOR CORP US NUE 493 $55,043.45
67066G104 NVIDIA CORP US NVDA 8,581 $2,193,904.27
6742340 SHANDONG WEIGAO CN 1066 HK 128,000 $218,026.39
681919106 OMNICOM GROUP US OMC 380 $25,870.40
6821506 SONY CORP FIRST SECTION JP 6758 JP 3,900 $451,605.88
68389X105 ORACLE CORP US ORCL 2,205 $211,547.70
68622V106 ORGANON & CO US OGN 206 $7,570.50
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,290,000 $1,346,659.64
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,371,000 $1,394,193.07
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 49,286.46 $50,532.35
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 385,237.81 $390,008.79
695156109 PACKAGING CORP OF AMERICA US PKG 180 $24,726.60
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,435 $404,227.32
70450Y103 PAYPAL HOLDINGS INC US PYPL 15,352 $3,570,721.68
7123870 NESTLE SA-REGISTERED CH NESN SW 27,704 $3,654,357.85
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 470,000 $501,825.77
742718109 PROCTER & GAMBLE CO US PG 1,569 $224,351.31
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,593,839.99 $1,602,307.74
74340W103 PROLOGIS US PLD 8,100 $1,174,176.00
74387VAA7 PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 2,075,029.28 $2,106,559.35
74388JAD7 PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,340,086.48 $1,345,844.83
74460D109 PUBLIC STORAGE INC US PSA 1,610 $534,809.80
747525103 QUALCOMM INC US QCOM 961 $127,851.44
74834L100 QUEST DIAGNOSTICS INC US DGX 238 $34,933.64
749685103 RPM INTERNATIONAL INC US RPM 251 $21,887.20
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 14,698 $254,716.34
75134P402 RAMACO RESOURCES INC US 20,500 $547,350.00
756109104 REALTY INCOME CORP US O 997 $71,215.71
7591EP100 REGIONS FINANCIAL CORP. US RF 1,642 $38,882.56
759509102 RELIANCE STEEL & ALUMINUM US RS 132 $19,293.12
760759100 REPUBLIC SERVICES INC US RSG 451 $60,704.60
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,711 $153,551.04
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,771 $320,611.20
7698356 GETINGE AB-B SHS SE GETIB SS 8,127 $363,698.26
7792559 HEINEKEN NV NL HEIA NA 1,939 $214,626.22
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 14,953 $685,445.52
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 19,024 $2,159,414.24
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $524,852.28
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,831,553.28
78409V104 S&P GLOBAL INC US SPGI 3,085 $1,462,783.60
78410G104 SBA COMMUNICATIONS CORP US SBAC 16,408 $5,666,174.64
78442GQJ8 SLMA 2005-7 A4 FLT 0.27388 10/25/2029 US 852,335.26 $848,657.35
78442PGC4 SLM CORP 5.12500 04/05/2022 US 125,000 $126,812.50
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,876,503.19 $1,911,468.45
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 37,383.33 $37,632.50
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 5,501.05 $5,512.59
79466L302 SALESFORCE.COM US CRM 14,827 $4,443,503.63
81141R100 SEA LTD - ADR SG SE 14,724 $5,058,724.68
81181C104 SEAGEN INC US SGEN 23,313 $4,110,781.29
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 630,561.58 $633,207.86
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 211,071.2 $212,206.19
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 259,194.43 $261,278.07
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 358,377.22 $358,196.67
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 127,172.65 $128,675.49
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 112,792.37 $114,977.65
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 2,558.47 $2,560.54
81762P102 SERVICENOW INC US NOW 2,971 $2,073,044.96
831865209 SMITH (A.O.) CORP US AOS 321 $23,455.47
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,010,707.51 $2,074,821.94
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 201 $24,694.86
833034101 SNAP-ON INC US SNA 105 $21,339.15
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 153,142.55 $156,331.54
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 597,697.73 $611,446.15
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 279.94 $280.26
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,151,493.54
835699307 SONY CORP SPONSORED ADR JP SONY 34,027 $3,939,986.33
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $975,083.65
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,508,178.98
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.56020 11/15/2027 US 1,910,952.51 $1,165,681.03
858119100 STEEL DYNAMICS INC US STLD 407 $26,894.56
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $204,262.50
866674104 SUN COMMUNITIES US SUI 2,313 $453,301.74
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 203,273.8 $202,061.05
87105L104 SWITCH INC - A US SWCH 15,843 $400,511.04
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 20,600 $498,108.00
87168KAA8 SYNERGY ONE LENDING 5.50000 10/14/2026 US 525,000 $532,596.75
87267CAA6 TRP 2021-1 A MTGE 2.07000 06/19/2051 US 1,491,808.13 $1,482,900.10
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 495,000 $496,237.50
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,584 $293,800.80
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,920,000 $5,366,048.58
88146M101 TERRENO REALTY CORP US TRNO 1,946 $142,310.98
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,276 $2,073,937.32
88579Y101 3M CO US MMM 535 $95,593.80
89151E109 TOTALENERGIES SE SPON ADR FR TTE 20,886 $1,046,597.46
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 529,458.71 $535,051.12
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 400,439.79 $405,471.16
89177EAA7 TPMT 2019-HY1 A1 1.08925 10/25/2048 US 491,395.05 $493,428.15
89417E109 TRAVELLERS COS INC US TRV 338 $54,377.44
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,473,147.34 $1,489,993.22
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 57,903.11 $57,480.56
89642JAC9 TRNTS 2021-17A B1 FLT 1.81308 10/20/2034 US 2,100,000 $2,100,724.50
902494103 TYSON FOODS INC -CL A US TSN 539 $43,103.83
902653104 UDR INC US UDR 4,958 $275,317.74
902973304 U.S. BANCORP US USB 1,560 $94,177.20
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 138,571 $1,445,295.53
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,352,749.16
907818108 UNION PAC CORP US UNP 565 $136,391.00
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 474,766.81 $468,898.50
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 87,374.4 $89,228.82
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $221,050.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,800,000 $4,977,851.57
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 33,285,000 $34,011,809.26
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 24,370,000 $25,494,256.58
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 14,465,000 $15,314,818.75
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 19,355,000 $20,160,198.19
91282CCB5 US TREASURY N/B 1.62500 05/15/2031 US 4,935,000 $4,972,012.50
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,235,964.50
92276F100 VENTAS INC US VTR 1,911 $101,990.07
92343V104 VERIZON COMMUNICATIONS US VZ 2,966 $157,168.34
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,450,000 $4,035,693.87
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,834 $4,037,761.62
92826C839 VISA INC - CLASS A SHARES US V 24,612 $5,212,083.24
93065PAA9 WBHT 2019-WBM A FLT 1.14000 12/15/2033 US 1,204,000 $1,202,535.45
931142103 WAL MART STORES US WMT 1,559 $232,945.78
94106L109 WASTE MANAGEMENT INC US WM 512 $82,037.76
95040Q104 WELLTOWER INC. US WELL 2,287 $183,874.80
963320106 WHIRLPOOL CORP US WHR 119 $25,088.77
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,630,000 $2,636,719.49
969904101 WILLIAMS - SONOMA INC US WSM 144 $26,745.12
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 128,637.69 $130,329.55
98978V103 ZOETIS INC US ZTS 4,794 $1,036,462.80
B02J639 ADMIRAL GROUP PLC GB ADM LN 12,060 $473,742.96
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 13,200 $79,829.61
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 3,629 $190,028.24
B1Y9TB3 DANONE FR BN FP 5,016 $326,971.98
B1YXBJ7 AIR LIQUIDE FR AI FP 2,254 $376,323.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $354,511.40
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $273,451.77
B4YVF56 BRENNTAG AG DE BNR GR 1,651 $157,073.41
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $53,322.79
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,836 $71,258.98
BFZZM64 S4 CAPITAL PLC GB SFOR LN 20,663 $205,207.75
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 53,230 $77,532.69
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 50,000 $70,521.23
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 3,832 $152,343.78
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 505,000 $517,246.25
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 9,927 $230,027.51
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 8,029 $160,339.13
BN6725160 SEASPAN CORP 6.50000 02/05/2024 MH 500,000 $527,500.00
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 500,000 $525,000.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 32,215 $615,235.51
BNTJ354 ALLFUNDS GROUP PLC GB ALLFG NA 7,056 $142,628.69
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 490,000 $510,825.00
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 500,000 $502,500.00
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 400,000 $423,752.00
BR8705906 TIDEWATER INC 8.50000 11/16/2026 US 500,000 $499,595.00
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 37,362 $309,747.28
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 6,356 $186,501.99
BYQ8KW7 CLEANAWAY WASTE MANAGEMENT AU CWY AU 119,825 $243,695.00
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 7,839 $235,130.56
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,101 $128,512.36
BZ1HM42 ADYEN NV NL ADYEN NA 78 $235,350.21
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,887 $139,543.30
G16962105 BUNGE LIMITED US BG 280 $25,939.20
G29183103 EATON CORP PLC US ETN 492 $81,061.92
G3223R108 EVEREST RE GROUP LTD BM RE 80 $20,920.00
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,072 $78,652.64
G5494J103 LINDE PLC GB LIN 439 $140,128.80
G5960L103 MEDTRONIC INC IE MDT 18,333 $2,197,393.38
G85158106 STONECO LTD-A BR STNE 6,280 $212,640.80
H01301128 ALCON INC CH ALC 57,032 $4,754,187.52
H1467J104 CHUBB LTD CH CB 487 $95,150.06
H2906T109 GARMIN LTD CH GRMN 302 $43,367.20
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 193,000 $197,342.50

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class S Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2021 Distribution Estimates
  • 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

$15.83

Daily $ Change

$0.02

Daily % Change

0.13%

as of 11/24/2021

Ticker

EXBAX

CUSIP

563821776

Inception Date

09/15/1993

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans, participants in an automatic investment program, and discretionary investment accounts of the Advisor.

Important Documents

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

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Blend® Series

Performance

As of 10/31/2021

YTD

7.29%

1 Year

15.78%

3 Year

12.27%

5 Year

8.58%

10 Year

6.92%

Inception
(09/15/1993)

6.91%

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 1.07%*

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

Top Ten Investments

As of 10/31/2021

TREASURY NOTES 21.16%
GOVERNMENT AGENCY 2.48%
AMAZON.COM INC 2.03%
ALPHABET INC-CL A 1.98%
META PLATFORMS INC 1.81%
MICROSOFT CORP 1.28%
SBA COMMUNICATIONS CORP 1.14%
JOHNSON & JOHNSON 1.13%
TENCENT HOLDINGS 3.97500 04/11/2029 1.08%
UNILEVER PLC - ADR 1.08%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Bonds
53.21%
Stocks
43.88%
Cash
2.91%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities
11.98%
Small Capitalization
0.91%
Mid Capitalization
4.30%
Large Capitalization
26.68%
Long Term Fixed Income
16.68%
Intermediate Term Fixed Income
30.61%
Short Term Fixed Income
5.93%
Cash
2.91%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 2,690,000 $2,730,602.43
008474108 AGNICO EAGLE MINES LTD CA AEM 26,313 $1,395,904.65
008492100 AGREE REALTY CORP US ADC 1,509 $107,229.54
009126202 AIR LIQUIDE-ADR FR AIQUY 83,671 $2,796,284.82
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,220,000 $1,302,250.41
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 181,835.32 $205,083.97
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,440,000 $2,644,436.69
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 1,800,000 $1,791,488.88
020002101 ALLSTATE CORPORATION US ALL 413 $51,075.71
02079K305 ALPHABET INC-CL A US GOOGL 3,323 $9,839,137.16
023135106 AMAZON.COM INC US AMZN 2,980 $10,049,841.40
0237400 DIAGEO PLC GB DGE LN 35,973 $1,789,717.51
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 4,398 $236,260.56
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,235 $334,341.00
03027X100 AMERICAN TOWER REIT INC US AMT 9,555 $2,694,223.35
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 3,680,000 $4,045,968.57
032654105 ANALOG DEVICES INC US ADI 429 $74,427.21
03784Y200 APPLE HOSPITALITY REIT INC US APLE 13,277 $208,581.67
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733174AK2 POPULAR INC 6.12500 09/14/2023 PR 470,000 $501,825.77
742718109 PROCTER & GAMBLE CO US PG 1,569 $224,351.31
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,593,839.99 $1,602,307.74
74340W103 PROLOGIS US PLD 8,100 $1,174,176.00
74387VAA7 PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 2,075,029.28 $2,106,559.35
74388JAD7 PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,340,086.48 $1,345,844.83
74460D109 PUBLIC STORAGE INC US PSA 1,610 $534,809.80
747525103 QUALCOMM INC US QCOM 961 $127,851.44
74834L100 QUEST DIAGNOSTICS INC US DGX 238 $34,933.64
749685103 RPM INTERNATIONAL INC US RPM 251 $21,887.20
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 14,698 $254,716.34
75134P402 RAMACO RESOURCES INC US 20,500 $547,350.00
756109104 REALTY INCOME CORP US O 997 $71,215.71
7591EP100 REGIONS FINANCIAL CORP. US RF 1,642 $38,882.56
759509102 RELIANCE STEEL & ALUMINUM US RS 132 $19,293.12
760759100 REPUBLIC SERVICES INC US RSG 451 $60,704.60
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,711 $153,551.04
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 4,771 $320,611.20
7698356 GETINGE AB-B SHS SE GETIB SS 8,127 $363,698.26
7792559 HEINEKEN NV NL HEIA NA 1,939 $214,626.22
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 14,953 $685,445.52
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 19,024 $2,159,414.24
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $524,852.28
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,831,553.28
78409V104 S&P GLOBAL INC US SPGI 3,085 $1,462,783.60
78410G104 SBA COMMUNICATIONS CORP US SBAC 16,408 $5,666,174.64
78442GQJ8 SLMA 2005-7 A4 FLT 0.27388 10/25/2029 US 852,335.26 $848,657.35
78442PGC4 SLM CORP 5.12500 04/05/2022 US 125,000 $126,812.50
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,876,503.19 $1,911,468.45
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 37,383.33 $37,632.50
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 5,501.05 $5,512.59
79466L302 SALESFORCE.COM US CRM 14,827 $4,443,503.63
81141R100 SEA LTD - ADR SG SE 14,724 $5,058,724.68
81181C104 SEAGEN INC US SGEN 23,313 $4,110,781.29
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 630,561.58 $633,207.86
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 211,071.2 $212,206.19
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 259,194.43 $261,278.07
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 358,377.22 $358,196.67
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 127,172.65 $128,675.49
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 112,792.37 $114,977.65
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 2,558.47 $2,560.54
81762P102 SERVICENOW INC US NOW 2,971 $2,073,044.96
831865209 SMITH (A.O.) CORP US AOS 321 $23,455.47
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,010,707.51 $2,074,821.94
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 201 $24,694.86
833034101 SNAP-ON INC US SNA 105 $21,339.15
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 153,142.55 $156,331.54
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 597,697.73 $611,446.15
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 279.94 $280.26
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,151,493.54
835699307 SONY CORP SPONSORED ADR JP SONY 34,027 $3,939,986.33
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $975,083.65
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,508,178.98
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.56020 11/15/2027 US 1,910,952.51 $1,165,681.03
858119100 STEEL DYNAMICS INC US STLD 407 $26,894.56
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $204,262.50
866674104 SUN COMMUNITIES US SUI 2,313 $453,301.74
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 203,273.8 $202,061.05
87105L104 SWITCH INC - A US SWCH 15,843 $400,511.04
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 20,600 $498,108.00
87168KAA8 SYNERGY ONE LENDING 5.50000 10/14/2026 US 525,000 $532,596.75
87267CAA6 TRP 2021-1 A MTGE 2.07000 06/19/2051 US 1,491,808.13 $1,482,900.10
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 495,000 $496,237.50
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,584 $293,800.80
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,920,000 $5,366,048.58
88146M101 TERRENO REALTY CORP US TRNO 1,946 $142,310.98
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,276 $2,073,937.32
88579Y101 3M CO US MMM 535 $95,593.80
89151E109 TOTALENERGIES SE SPON ADR FR TTE 20,886 $1,046,597.46
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 529,458.71 $535,051.12
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 400,439.79 $405,471.16
89177EAA7 TPMT 2019-HY1 A1 1.08925 10/25/2048 US 491,395.05 $493,428.15
89417E109 TRAVELLERS COS INC US TRV 338 $54,377.44
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,473,147.34 $1,489,993.22
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 57,903.11 $57,480.56
89642JAC9 TRNTS 2021-17A B1 FLT 1.81308 10/20/2034 US 2,100,000 $2,100,724.50
902494103 TYSON FOODS INC -CL A US TSN 539 $43,103.83
902653104 UDR INC US UDR 4,958 $275,317.74
902973304 U.S. BANCORP US USB 1,560 $94,177.20
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 138,571 $1,445,295.53
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,352,749.16
907818108 UNION PAC CORP US UNP 565 $136,391.00
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 474,766.81 $468,898.50
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 87,374.4 $89,228.82
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $221,050.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,800,000 $4,977,851.57
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 33,285,000 $34,011,809.26
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 24,370,000 $25,494,256.58
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 14,465,000 $15,314,818.75
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 19,355,000 $20,160,198.19
91282CCB5 US TREASURY N/B 1.62500 05/15/2031 US 4,935,000 $4,972,012.50
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,235,964.50
92276F100 VENTAS INC US VTR 1,911 $101,990.07
92343V104 VERIZON COMMUNICATIONS US VZ 2,966 $157,168.34
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,450,000 $4,035,693.87
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,834 $4,037,761.62
92826C839 VISA INC - CLASS A SHARES US V 24,612 $5,212,083.24
93065PAA9 WBHT 2019-WBM A FLT 1.14000 12/15/2033 US 1,204,000 $1,202,535.45
931142103 WAL MART STORES US WMT 1,559 $232,945.78
94106L109 WASTE MANAGEMENT INC US WM 512 $82,037.76
95040Q104 WELLTOWER INC. US WELL 2,287 $183,874.80
963320106 WHIRLPOOL CORP US WHR 119 $25,088.77
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,630,000 $2,636,719.49
969904101 WILLIAMS - SONOMA INC US WSM 144 $26,745.12
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 128,637.69 $130,329.55
98978V103 ZOETIS INC US ZTS 4,794 $1,036,462.80
B02J639 ADMIRAL GROUP PLC GB ADM LN 12,060 $473,742.96
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 13,200 $79,829.61
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 3,629 $190,028.24
B1Y9TB3 DANONE FR BN FP 5,016 $326,971.98
B1YXBJ7 AIR LIQUIDE FR AI FP 2,254 $376,323.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $354,511.40
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $273,451.77
B4YVF56 BRENNTAG AG DE BNR GR 1,651 $157,073.41
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $53,322.79
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 1,836 $71,258.98
BFZZM64 S4 CAPITAL PLC GB SFOR LN 20,663 $205,207.75
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 53,230 $77,532.69
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 50,000 $70,521.23
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 3,832 $152,343.78
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 505,000 $517,246.25
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 9,927 $230,027.51
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 8,029 $160,339.13
BN6725160 SEASPAN CORP 6.50000 02/05/2024 MH 500,000 $527,500.00
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 500,000 $525,000.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 32,215 $615,235.51
BNTJ354 ALLFUNDS GROUP PLC GB ALLFG NA 7,056 $142,628.69
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 490,000 $510,825.00
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 500,000 $502,500.00
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 400,000 $423,752.00
BR8705906 TIDEWATER INC 8.50000 11/16/2026 US 500,000 $499,595.00
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 37,362 $309,747.28
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 6,356 $186,501.99
BYQ8KW7 CLEANAWAY WASTE MANAGEMENT AU CWY AU 119,825 $243,695.00
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 7,839 $235,130.56
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,101 $128,512.36
BZ1HM42 ADYEN NV NL ADYEN NA 78 $235,350.21
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,887 $139,543.30
G16962105 BUNGE LIMITED US BG 280 $25,939.20
G29183103 EATON CORP PLC US ETN 492 $81,061.92
G3223R108 EVEREST RE GROUP LTD BM RE 80 $20,920.00
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,072 $78,652.64
G5494J103 LINDE PLC GB LIN 439 $140,128.80
G5960L103 MEDTRONIC INC IE MDT 18,333 $2,197,393.38
G85158106 STONECO LTD-A BR STNE 6,280 $212,640.80
H01301128 ALCON INC CH ALC 57,032 $4,754,187.52
H1467J104 CHUBB LTD CH CB 487 $95,150.06
H2906T109 GARMIN LTD CH GRMN 302 $43,367.20
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 193,000 $197,342.50

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class S Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2021 Distribution Estimates
  • 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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