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

$15.44

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/16/2021

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

Performance

As of 03/31/2021

YTD

1.55%

1 Year

24.51%

3 Year

9.57%

5 Year

8.19%

10 Year

6.12%

Inception
(09/15/1993)

6.85%

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 1.09%*

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

Top Ten Investments

As of 03/31/2021

TREASURY NOTES 14.99%
GOVERNMENT AGENCY 6.73%
FACEBOOK INC -A 1.69%
AMAZON.COM INC 1.44%
MASTERCARD INC-CLASS A 1.26%
VISA INC - CLASS A SHARES 1.25%
ALPHABET INC-CL A 1.19%
JOHNSON & JOHNSON 1.17%
UNILEVER PLC - ADR 1.15%
MICROSOFT CORP 1.11%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2021

Bonds 51.08%
Stocks 47.13%
Cash 1.79%

Detailed Asset Class Allocation

As of 03/31/2021

International Equities 13.03%
Small Capitalization 1.50%
Mid Capitalization 4.63%
Large Capitalization 27.97%
Long Term Fixed Income 15.36%
Intermediate Term Fixed Income 31.38%
Short Term Fixed Income 4.34%
Cash 1.79%

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

March Fund Holdings

As of 03/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,018,000 $1,143,469.46
00287Y109 ABBVIE INC US ABBV 1,175 $127,158.50
00507V109 ACTIVISION INC US ATVI 20,145 $1,873,485.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,812,678.44
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 85,000 $95,126.05
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 90,000 $94,837.50
008474108 AGNICO EAGLE MINES LTD CA AEM 26,313 $1,521,154.53
008492100 AGREE REALTY CORP US ADC 2,357 $158,649.67
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,220,000 $1,282,778.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 202,367.74 $224,710.13
01609W102 ALIBABA GROUP - ADR CN BABA 12,375 $2,805,783.75
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,185,000 $1,273,984.96
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 1,190,000 $1,077,441.41
020002101 ALLSTATE CORPORATION US ALL 338 $38,836.20
02079K305 ALPHABET INC-CL A US GOOGL 2,799 $5,772,993.48
023135106 AMAZON.COM INC US AMZN 2,260 $6,992,620.80
0237400 DIAGEO PLC GB DGE LN 40,716 $1,672,675.07
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 2,870 $123,897.90
025816109 AMERICAN EXPRESS CO US AXP 12,595 $1,781,436.80
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,663 $288,824.42
03027X100 AMERICAN TOWER REIT INC US AMT 9,654 $2,307,885.24
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,793,000 $3,038,990.26
03064D108 AMERICOLD REALTY TRUST US COLD 7,448 $286,524.56
032654105 ANALOG DEVICES INC US ADI 345 $53,502.60
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 103,000 $102,871.25
03750L109 APARTMENT INCOME REIT CO US AIRC 1,533 $65,551.08
03784Y200 APPLE HOSPITALITY REIT INC US APLE 8,252 $120,231.64
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 703 $40,071.00
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,220,000 $1,274,460.80
053015103 AUTOMATIC DATA PROCESSING US ADP 297 $55,975.59
053484101 AVALONBAY COMMUNITIES INC US AVB 1,071 $197,610.21
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 1,230,000 $1,285,280.09
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,384,000 $1,371,958.87
055622104 BP PLC-SPONS ADR GB BP 36,396 $886,242.60
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,140,000 $1,306,221.12
05722G100 BAKER HUGHES CO US BKR 1,355 $29,281.55
060505104 BANK OF AMERICA CORP US BAC 4,969 $192,250.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,578,000 $1,724,076.15
067901108 BARRICK GOLD CORP CA GOLD 78,729 $1,558,834.20
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 149,000 $151,860.80
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 95,000 $95,475.00
084423102 WR BERKLEY CORP US WRB 32,453 $2,445,333.55
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 15,204 $3,884,165.88
086516101 BEST BUY INC US BBY 428 $49,138.68
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 42,797 $3,231,601.47
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,300,000 $1,291,001.35
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 4,079 $192,879.51
105368203 BRANDYWINE REALTY TRUST US BDN 9,441 $121,883.31
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,652 $104,290.76
12345678 JONAH ENERGY PARENT LLC US 5,224 $78,360.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 150,000 $145,875.00
12514G108 CDW CORP/DE US CDW 11,867 $1,966,955.25
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 978,238.31 $985,329.46
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 857,937.85 $850,186.12
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 272 $25,956.96
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 221,528.68 $225,550.00
12565KAA5 CLIF 2021-1A A MTGE 1.64000 02/18/2046 US 2,050,000 $2,001,969.73
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 145,000 $151,929.55
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 652,322.93 $666,307.30
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 509,526.61 $513,574.14
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 271,235.66 $274,143.71
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 127,869.26 $130,353.63
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 145,000 $147,537.50
127097103 CABOT OIL & GAS CORP US COG 219,294 $4,118,341.32
133131102 CAMDEN PROPERTY TRUST US CPT 1,591 $174,866.81
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,378,000 $2,437,695.03
13321L108 CAMECO CORP CA CCJ 142,188 $2,361,742.68
14174T107 CARETRUST REIT INC US CTRE 3,618 $84,245.13
149123101 CATERPILLAR INC US CAT 506 $117,326.22
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 391,339.64 $393,194.32
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 95,000 $106,480.74
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 4,473 $2,759,930.46
172062101 CINCINNATI FINANCIAL CORP US CINF 196 $20,205.64
17275R102 CISCO SYSTEMS INC US CSCO 2,963 $153,216.73
172967424 CITIGROUP INC US C 1,476 $107,379.00
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,135,000 $2,404,340.07
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,530,000 $2,431,102.30
191216100 COCA COLA CO/THE US KO 61,196 $3,225,641.16
194162103 COLGATE-PALMOLIVE CO US CL 905 $71,341.15
20030N101 COMCAST CORP-CL A US CMCSA 2,231 $120,719.41
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,546,000 $2,617,261.17
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,230,855.37 $1,262,734.52
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,672 $169,352.64
205887102 CONAGRA BRAND INC. US CAG 825 $31,020.00
20825C104 CONOCOPHILLIPS US COP 51,848 $2,746,388.56
21036P108 CONSTELLATION BRANDS INC-A US STZ 188 $42,864.00
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 12,624 $180,018.24
217204106 COPART INC US CPRT 16,470 $1,788,806.70
222795502 COUSINS PROPERTIES INC US CUZ 7,251 $256,322.85
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 145,000 $152,612.50
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,583,000 $1,609,724.36
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 2,230,000 $2,250,591.60
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 1,800,000 $1,797,782.94
22822V101 CROWN CASTLE INTL CORP US CCI 436 $75,048.68
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,332,000 $2,401,198.35
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 298,492.29 $302,123.36
231021106 CUMMINS INC US CMI 204 $52,858.44
23311VAG2 DCP MIDSTREAM 5.37500 07/15/2025 US 90,000 $97,526.25
253868103 DIGITAL REALTY TRUST INC US DLR 2,264 $318,861.76
256677105 DOLLAR GENERAL CORP US DG 9,538 $1,932,589.56
256746108 DOLLAR TREE STORES INC US DLTR 17,064 $1,953,145.44
25960P109 DOUGLAS EMMETT INC US DEI 4,131 $129,713.40
260003108 DOVER CORP US DOV 169 $23,174.97
26150TAE9 DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 US 250,000 $256,333.10
264411505 DUKE RLTY INVTS INC US DRE 5,637 $236,359.41
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 90,000 $90,138.60
26875P101 EOG RESOURCES INC US EOG 26,998 $1,958,164.94
26884L109 EQT CORP US EQT 111,467 $2,071,056.86
2715777 QUEBECOR INC -CL B CA QBR/B CN 12,057 $323,707.47
285512109 ELECTRONIC ARTS US EA 12,644 $1,711,618.28
291011104 EMERSON ELEC CO US EMR 738 $66,582.36
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,728,000 $3,244,564.34
29275YAC6 ENERSYS 4.37500 12/15/2027 US 90,000 $92,025.00
29444U700 EQUINIX INC US EQIX 4,128 $2,805,347.52
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 4,117 $262,005.88
297178105 ESSEX PROPERTY TRUST INC US ESS 565 $153,589.60
30212P303 EXPEDIA INC US EXPE 28,068 $4,831,064.16
30212PBB0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 1,170,000 $1,302,528.46
30225T102 EXTRA SPACE STORAGE INC US EXR 1,085 $143,816.75
30231G102 EXXON MOBIL CORP US XOM 36,789 $2,053,929.87
302491303 FMC CORP US FMC 23,953 $2,649,441.33
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 133,000 $133,665.00
30287EAE0 FREMF 2014-K41 B FLT 3.83364 11/25/2047 US 48,000 $52,110.87
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 142,413,207.37 $193,254.72
30303M102 FACEBOOK INC -A US FB 27,724 $8,165,549.72
303250104 FAIR ISAAC CORP US FICO 4,669 $2,269,367.45
311900104 FASTENAL CO US FAST 843 $42,386.04
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 867.75 $1,020.53
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 121,655.63 $143,103.77
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 144,182.87 $172,093.72
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 11,497.49 $13,514.67
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 12,431.37 $14,570.57
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 155,733.37 $183,134.06
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 65,104.97 $76,694.74
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 87,304.44 $104,293.55
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 2,873.28 $2,966.47
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 2,955.4 $2,987.70
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 2,318.62 $2,345.13
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 3,151.3 $3,234.03
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 4,615.02 $4,731.54
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 131,366.97 $143,399.07
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 184,565.28 $215,995.98
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 527,907.89 $582,398.94
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 7,803.2 $8,603.66
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 11,770.3 $13,009.31
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 906,968.95 $1,023,036.71
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 260,648.53 $276,383.48
3132D56Z0 FEDERAL NATL MTG ASSN FR SB8088 1.50000 02/01/2036 US 3,146,075.78 $3,161,359.20
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 3,361,335.04 $3,450,086.59
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 173,723.31 $191,367.95
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 362,173.94 $395,558.43
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 4,000,000 $4,050,322.84
3133KYUZ0 FHLM POOL RB5100 2.00000 02/01/2041 US 2,579,005.21 $2,611,450.10
3136AY6W8 FNA 2017-M15 A1 FLT 2.95954 09/25/2027 US 1,423,775.33 $1,529,172.01
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 300,400.76 $311,083.46
3137ADTK3 FHMS K014 X1 FLT 1.46248 04/25/2021 US 399,026.59 $3.99
3137AJMG6 FMHS K016 X1 FLT 1.48185 10/25/2021 US 4,752,044.09 $7,501.10
3137AME78 FHMS K017 X1 FLT 1.28501 12/25/2021 US 7,584,150.9 $27,329.49
3137AUPF0 FHMS K021 x1 FLT 1.39972 06/25/2022 US 11,043,508.77 $123,855.16
3137B3NB0 FHMS K030 X1 FLT 0.16646 04/25/2023 US 56,908,191.38 $172,830.18
3137B4GZ3 FHMS K032 X1 FLT 0.08767 05/25/2023 US 36,051,586.07 $81,368.43
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 219,293.53 $220,770.84
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 45,729.72 $45,827.65
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 546,499.12 $649,599.14
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 364,234.42 $433,686.42
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 165,829.03 $186,564.56
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64200 01/01/2049 US 1,436,582.71 $1,647,090.59
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 547,483.94 $605,961.06
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 349,732.1 $409,375.91
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 395,350.71 $428,297.30
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 97,250.13 $103,619.30
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 139,660.39 $153,589.41
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 833.25 $837.00
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,607.89 $1,617.65
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 1,233.76 $1,235.02
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2,900.37 $2,911.17
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 270,604.16 $322,315.83
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 570,882.7 $682,278.84
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 7.96 $7.99
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 1,064.79 $1,069.56
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 508,686.21 $570,421.79
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 397,832.95 $439,575.78
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 392,646.7 $433,855.93
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 609,750.06 $645,208.57
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 908,238.44 $966,506.32
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 3,335,798.24 $3,447,301.10
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 3,383,824.1 $3,426,296.47
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 29,801.79 $35,617.12
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 97,839.1 $116,933.52
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 8,192.1 $9,631.37
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 7,472.74 $7,853.62
316773100 FIFTH THIRD BANCORP US FITB 996 $37,300.20
32054K103 FIRST INDUSTRIAL REALTY TR US FR 3,678 $168,415.62
343412AC6 FLUOR CORP 3.50000 12/15/2024 US 145,000 $149,259.23
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,541,000 $1,620,392.63
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 165,000 $199,833.98
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 98,000 $111,597.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 124,000 $141,670.00
35563BAJ9 FREMF 2014-K37 B FLT 4.56056 01/25/2047 US 1,977,000 $2,149,220.42
36257MAA3 GSMS 2019-70P A 1.10600 10/15/2036 US 1,342,000 $1,340,371.35
369550108 GENERAL DYNAMICS CORP US GD 288 $52,289.28
369604BQ5 GENERAL ELECTRIC CO 3.51388 01/21/2099 US 2,321,000 $2,189,863.50
370334104 GENERAL MLS INC US GIS 797 $48,872.04
372460105 GENUINE PARTS CO US GPC 249 $28,781.91
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 225,000 $243,140.63
374297109 GETTY REALTY CORP US GTY 4,306 $121,945.92
375558103 GILEAD SCIENCES INC US GILD 1,128 $72,902.64
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,560,893.15 $1,603,198.97
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 1,317,712.49 $1,361,401.38
384802104 WW GRAINGER INC US GWW 62 $24,857.66
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 226,033 $4,104,759.28
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 850 $89,411.50
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43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 969 $117,171.48
437076102 HOME DEPOT INC US HD 761 $232,295.25
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440452100 HORMEL FOODS CORP US HRL 570 $27,234.60
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450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 155,000 $156,984.00
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45337C102 INCYTE CORP US INCY 13,040 $1,059,760.80
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458140100 INTEL CORP US INTC 2,727 $174,528.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 32,969 $3,681,977.92
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 734 $97,812.84
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 131 $18,288.91
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 140,000 $147,875.00
46187BAA1 IHSFR 2017-SFR2 A 0.95800 12/17/2036 US 578,759.11 $579,392.39
46187BAB9 IHSFR 2017-SFR2 B 1.25800 12/17/2036 US 477,000 $477,896.86
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464288620 ISHARES BROAD USD INVESTMENT 1.64000 US 64,425 $3,803,652.00
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46625H100 JP MORGAN CHASE & CO US JPM 1,671 $254,376.33
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46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 231,285.94 $235,382.57
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46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 29,788.19 $30,224.96
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 72,591.45 $72,640.28
478160104 JOHNSON & JOHNSON US JNJ 34,388 $5,651,667.80
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482480100 KLA-TENCOR CORPORATION US KLAC 218 $72,027.20
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 144,000 $160,200.00
49427F108 KILROY REALTY CORP US KRC 3,001 $196,955.63
494368103 KIMBERLY CLARK CORP US KMB 385 $53,534.25
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,299,000 $3,078,573.96
501044101 KROGER CO US KR 1,179 $42,432.21
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 140,000 $140,000.00
5107401 BEIERSDORF AG DE BEI GR 2,045 $216,076.70
512816109 LAMAR ADVERTISING CO-A US LAMR 1,165 $109,416.80
53223X107 LIFE STORAGE INC US LSI 1,743 $149,810.85
532457108 ELI LILLY & CO US LLY 527 $98,454.14
539830109 LOCKHEED MARTIN CORP US LMT 240 $88,680.00
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 88,000 $92,125.44
54240F202 LONESTAR RES US INC NPV US LONE 6,758 $37,844.80
550021109 LULULEMON - ADR CA LULU 7,082 $2,172,120.22
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 155,000 $161,393.75
56585A102 MARATHON PETROLEUM CORP US MPC 876 $46,857.24
573284106 MARTIN MARIETTA MATERIALS US MLM 2,778 $932,907.96
57636Q104 MASTERCARD INC-CLASS A US MA 17,157 $6,108,749.85
5852842 ACCOR SA FR AC FP 1,810 $68,193.34
58933Y105 MERCK & CO INC US MRK 1,783 $137,451.47
594918104 MICROSOFT CORP US MSFT 22,841 $5,385,222.57
595112103 MICRON TECHNOLOGY INC US MU 23,324 $2,057,410.04
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,277 $328,707.72
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 66,582 $3,897,044.46
615369105 MOODY'S CORPORATION US MCO 5,338 $1,593,980.18
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62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 140,000 $135,100.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 109,000 $255,713.18
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 180,000 $195,525.00
63938EAC8 NAVSL 2014-1 A3 FLT 0.61863 06/25/2031 US 1,303,331.97 $1,293,528.83
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 97,000 $106,942.50
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 1,234,541.46 $1,239,438.39
63942FAB1 NAVSL 2020-1A A1B 1.15863 06/25/2069 US 1,958,204 $1,999,016.69
64032XAA3 NSLT 2012-3A A MTGE FLT 0.80863 02/25/2045 US 332,540.87 $330,934.63
64033GAA9 NSLT 2013-5A A MTGE FLT 0.73863 01/25/2037 US 464,274.23 $461,300.09
64033NAA4 NLST 2014-5A A 0.65863 07/25/2046 US 1,754,761.07 $1,748,844.72
64033QAB5 NSLT 2015-2A A2 0.70863 09/25/2047 US 657,260.91 $654,671.89
64110D104 NETAPP INC US NTAP 354 $25,725.18
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 145,000 $148,973.00
644393AB6 NEW FORTRESS ENERGY INC 6.50000 09/30/2026 US 85,000 $85,552.50
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 434,054.34 $462,305.55
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 513,345.9 $544,245.01
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 601,780.47 $640,483.50
6490995 KEYENCE CORP JP 6861 JP 200 $91,151.25
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 685,000 $705,995.25
651639106 NEWMONT GOLDCORP CORP US NEM 29,657 $1,787,427.39
655844108 NORFOLK SOUTHN CORP US NSC 8,235 $2,211,262.20
6642321 NIKON CORP JP 7731 JP 173,500 $1,630,099.07
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 497,000 $49.70
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 145,000 $151,162.50
66987V109 NOVARTIS AG- REG CH NVS 44,752 $3,825,400.96
670346105 NUCOR CORP US NUE 506 $40,616.62
67066G104 NVIDIA CORP US NVDA 3,661 $1,954,717.73
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 150,000 $154,125.00
6742340 SHANDONG WEIGAO CN 1066 HK 156,000 $309,344.68
6821506 SONY CORP FIRST SECTION JP 6758 JP 2,200 $232,833.64
68389X105 ORACLE CORP US ORCL 1,528 $107,219.76
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 115,000 $122,944.28
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,290,000 $1,318,631.63
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,371,000 $1,415,927.67
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 60,000 $62,136.53
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 100,000 $101,480.00
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 565,980.97 $576,004.95
693475105 PNC FINANCIAL SERVICES GROUP US PNC 335 $58,762.35
693506107 PPG INDUSTRIES INC US PPG 237 $35,611.62
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 145,000 $155,150.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 90,000 $96,075.00
701094104 PARKER HANNIFIN CORP US PH 135 $42,583.05
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,435 $404,621.31
70450Y103 PAYPAL HOLDINGS INC US PYPL 15,352 $3,728,079.68
7123870 NESTLE SA-REGISTERED CH NESN SW 28,814 $3,212,080.73
717081103 PFIZER INC US PFE 3,979 $144,159.17
723787107 PIONEER NATURAL RESOURCES CO US PXD 12,387 $1,967,303.34
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 180,000 $194,260.50
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,595,625.8 $1,631,753.32
74340W103 PROLOGIS US PLD 7,773 $823,938.00
74460D109 PUBLIC STORAGE INC US PSA 1,573 $388,153.48
747525103 QUALCOMM INC US QCOM 810 $107,397.90
74834L100 QUEST DIAGNOSTICS INC US DGX 218 $27,978.12
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 135,000 $141,581.25
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 2,513 $36,941.10
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,165 $90,019.55
75606DAL5 REALOGY GROUP/CO-ISSUER 5.75000 01/15/2029 US 115,000 $113,418.75
756109104 REALTY INCOME CORP US O 1,071 $68,008.50
7591EP100 REGIONS FINANCIAL CORP. US RF 1,440 $29,750.40
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,711 $176,215.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 2,857 $143,992.80
7698356 GETINGE AB-B SHS SE GETIB SS 13,655 $379,238.22
773903109 ROCKWELL AUTOMATION INC US ROK 149 $39,550.56
7792559 HEINEKEN NV NL HEIA NA 2,530 $259,724.47
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 17,698 $651,817.34
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 19,024 $2,187,760.00
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $517,795.36
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,828,224.18
78409V104 S&P GLOBAL INC US SPGI 3,646 $1,286,564.02
78410G104 SBA COMMUNICATIONS CORP US SBAC 19,235 $5,338,674.25
78442GQJ8 SLMA 2005-7 A4 FLT 0.36775 10/25/2029 US 1,072,386.27 $1,064,031.31
78442PGC4 SLM CORP 5.12500 04/05/2022 US 227,000 $232,107.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 95,000 $99,751.89
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,879,000 $1,929,615.00
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 89,864.23 $90,830.05
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 34,602.29 $34,667.25
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 3,211,000 $3,760,051.43
806857108 SCHLUMBERGER LTD NL SLB 7,502 $203,979.38
81141R100 SEA LTD - ADR SG SE 17,774 $3,967,690.02
81181C104 SEAGEN INC US SGEN 23,313 $3,237,243.18
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 903,349.05 $910,462.92
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 296,730.9 $299,598.92
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 381,329.71 $385,225.83
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 522,152.25 $523,948.51
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 209,293.91 $212,709.59
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 182,567.5 $186,548.38
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 16,513.5 $16,616.66
81762P102 SERVICENOW INC US NOW 3,640 $1,820,400.40
83088M102 SKYWORKS SOLUTIONS INC US SWKS 188 $34,494.24
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,442,081.1 $2,541,267.44
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 203 $25,685.59
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 228,171.14 $233,502.06
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 878,797.13 $909,083.29
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 63,953.5 $64,467.66
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 202,248.88 $203,713.24
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,158,714.47
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 150,000 $153,375.00
835699307 SONY CORP SPONSORED ADR JP SONY 20,235 $2,145,112.35
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $972,954.00
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,544,400.71
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 108,000 $124,561.80
85254J102 STAG INDUSTRIAL INC US STAG 3,033 $101,939.13
854502101 STANLEY WORKS/THE US SWK 167 $33,344.89
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 190,000 $197,273.20
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57600 11/15/2027 US 1,910,952.51 $1,404,550.09
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $202,800.00
866674104 SUN COMMUNITIES US SUI 2,623 $393,554.92
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 228,968.83 $230,184.84
87105L104 SWITCH INC - A US SWCH 14,663 $238,420.38
871829107 SYSCO CORP US SYY 541 $42,598.34
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,368 $161,807.04
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 95,000 $76,296.88
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 150,000 $146,580.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 61,697.81 $61,831.01
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 145,000 $147,537.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,415,000 $4,793,233.05
88146M101 TERRENO REALTY CORP US TRNO 2,072 $119,699.44
882508104 TEXAS INSTRUMENTS INC US TXN 792 $149,680.08
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,810 $1,738,807.80
88579Y101 3M CO US MMM 530 $102,120.40
89151E109 TOTAL S A SPONSORED ADR FR TOT 22,003 $1,024,019.62
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 847,394.68 $863,627.63
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 635,115.15 $645,942.66
89177EAA7 TPMT 2019-HY1 A1 1.10863 10/25/2048 US 640,803.72 $645,588.22
89417E109 TRAVELLERS COS INC US TRV 289 $43,465.60
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,503,792.09 $1,539,259.03
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 57,947.47 $56,994.85
89832Q109 TRUIST FINANCIAL CORP US TFC 1,424 $83,047.68
902494103 TYSON FOODS INC -CL A US TSN 444 $32,989.20
902653104 UDR INC US UDR 4,630 $203,071.80
902973304 U.S. BANCORP US USB 1,516 $83,849.96
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,577,528.66
907818108 UNION PAC CORP US UNP 582 $128,278.62
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 76,478.91 $74,410.64
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 93,095.75 $94,149.60
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $222,078.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,800,000 $4,782,359.36
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,967,000 $4,427,079.01
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 19,373,000 $19,433,141.93
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 18,625,000 $19,227,402.34
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 9,090,000 $9,710,321.51
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 18,390,000 $19,459,637.06
918204108 VF CORP US VFC 513 $40,998.96
91913Y100 VALERO ENERGY US VLO 497 $35,585.20
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,250,427.25
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,050,000 $3,443,929.31
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,834 $4,691,908.26
92556V106 VIATRIS INC US VTRS 500 $6,985.00
92826C839 VISA INC - CLASS A SHARES US V 28,628 $6,061,406.44
929160109 VULCAN MATERIALS CO US VMC 11,055 $1,865,531.25
93065PAA9 WBHT 2019-WBM A FLT 1.15600 12/15/2033 US 1,204,000 $1,202,541.47
931142103 WAL MART STORES US WMT 1,544 $209,721.52
93114W107 WALMART DE MEXICO MX WMMVY 63,093 $1,995,000.66
94106L109 WASTE MANAGEMENT INC US WM 482 $62,187.64
949746101 WELLS FARGO COMPANY US WFC 3,278 $128,071.46
95040Q104 WELLTOWER INC. US WELL 1,607 $115,109.41
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 135,000 $149,175.00
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,630,000 $2,562,662.24
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 211,115.29 $216,089.82
98978V103 ZOETIS INC US ZTS 5,650 $889,762.00
B02J639 ADMIRAL GROUP PLC GB ADM LN 12,060 $515,455.35
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 13,200 $83,270.53
B1Y9TB3 DANONE FR BN FP 5,016 $343,335.50
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 27,176 $517,267.38
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $169,815.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $354,941.47
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $280,435.36
B4YVF56 BRENNTAG AG DE BNR GR 2,953 $252,271.58
B63QM77 NEXON CO LTD JP 3659 JP 127,800 $4,146,859.86
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,350.35
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 2,609 $92,580.79
BFZZM64 S4 CAPITAL PLC GB SFOR LN 34,171 $238,367.19
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 53,888 $69,766.68
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 200,000 $212,000.40
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,108 $123,703.66
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $203,959.08
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 34,428 $2,747,614.51
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,371 $66,439.20
BNGN9Z1 FINECOBANK SPA IT FBK IM 32,215 $527,030.49
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 19,105 $146,077.40
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 45,117 $142,484.03
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 9,600 $276,291.81
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 9,629 $244,474.18
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,455 $154,328.29
BZ1HM42 ADYEN NV NL ADYEN NA 78 $174,049.62
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,887 $148,561.14
G1151C101 ACCENTURE PLC - CL A IE ACN 366 $101,107.50
G29183103 EATON CORP PLC US ETN 480 $66,374.40
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,097 $65,457.99
G5494J103 LINDE PLC GB LIN 336 $94,127.04
G5960L103 MEDTRONIC INC IE MDT 22,016 $2,600,750.08
G85158106 STONECO LTD-A BR STNE 3,051 $186,782.22
G8994E103 TRANE TECHNOLOGIES IE TT 1,339 $221,684.84
G97822103 PERRIGO CO PLC IE PRGO 5,045 $204,171.15
H01301128 ALCON INC CH ALC 68,564 $4,811,821.52
H1467J104 CHUBB LTD CH CB 422 $66,663.34
H2906T109 GARMIN LTD CH GRMN 235 $30,984.75
N53745100 LYONDELLBASELL INDU-CL A US LYB 454 $47,238.70
USD US DOLLAR US 8,826,592.86 $8,826,592.86
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $156,000.00
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,000.00

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class S Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 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

$15.44

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/16/2021

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

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 03/31/2021

YTD

1.55%

1 Year

24.51%

3 Year

9.57%

5 Year

8.19%

10 Year

6.12%

Inception
(09/15/1993)

6.85%

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 1.09%*

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

Top Ten Investments

As of 03/31/2021

TREASURY NOTES 14.99%
GOVERNMENT AGENCY 6.73%
FACEBOOK INC -A 1.69%
AMAZON.COM INC 1.44%
MASTERCARD INC-CLASS A 1.26%
VISA INC - CLASS A SHARES 1.25%
ALPHABET INC-CL A 1.19%
JOHNSON & JOHNSON 1.17%
UNILEVER PLC - ADR 1.15%
MICROSOFT CORP 1.11%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2021

Bonds
51.08%
Stocks
47.13%
Cash
1.79%

Detailed Asset Class Allocation

As of 03/31/2021

International Equities
13.03%
Small Capitalization
1.50%
Mid Capitalization
4.63%
Large Capitalization
27.97%
Long Term Fixed Income
15.36%
Intermediate Term Fixed Income
31.38%
Short Term Fixed Income
4.34%
Cash
1.79%

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

March Fund Holdings

As of 03/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 1,018,000 $1,143,469.46
00287Y109 ABBVIE INC US ABBV 1,175 $127,158.50
00507V109 ACTIVISION INC US ATVI 20,145 $1,873,485.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,812,678.44
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 85,000 $95,126.05
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 90,000 $94,837.50
008474108 AGNICO EAGLE MINES LTD CA AEM 26,313 $1,521,154.53
008492100 AGREE REALTY CORP US ADC 2,357 $158,649.67
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,220,000 $1,282,778.94
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 202,367.74 $224,710.13
01609W102 ALIBABA GROUP - ADR CN BABA 12,375 $2,805,783.75
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,185,000 $1,273,984.96
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 1,190,000 $1,077,441.41
020002101 ALLSTATE CORPORATION US ALL 338 $38,836.20
02079K305 ALPHABET INC-CL A US GOOGL 2,799 $5,772,993.48
023135106 AMAZON.COM INC US AMZN 2,260 $6,992,620.80
0237400 DIAGEO PLC GB DGE LN 40,716 $1,672,675.07
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 2,870 $123,897.90
025816109 AMERICAN EXPRESS CO US AXP 12,595 $1,781,436.80
02665T306 AMERICAN HOMES 4 RENT- A US AMH 8,663 $288,824.42
03027X100 AMERICAN TOWER REIT INC US AMT 9,654 $2,307,885.24
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,793,000 $3,038,990.26
03064D108 AMERICOLD REALTY TRUST US COLD 7,448 $286,524.56
032654105 ANALOG DEVICES INC US ADI 345 $53,502.60
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 103,000 $102,871.25
03750L109 APARTMENT INCOME REIT CO US AIRC 1,533 $65,551.08
03784Y200 APPLE HOSPITALITY REIT INC US APLE 8,252 $120,231.64
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 703 $40,071.00
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,220,000 $1,274,460.80
053015103 AUTOMATIC DATA PROCESSING US ADP 297 $55,975.59
053484101 AVALONBAY COMMUNITIES INC US AVB 1,071 $197,610.21
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 1,230,000 $1,285,280.09
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,384,000 $1,371,958.87
055622104 BP PLC-SPONS ADR GB BP 36,396 $886,242.60
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,140,000 $1,306,221.12
05722G100 BAKER HUGHES CO US BKR 1,355 $29,281.55
060505104 BANK OF AMERICA CORP US BAC 4,969 $192,250.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,578,000 $1,724,076.15
067901108 BARRICK GOLD CORP CA GOLD 78,729 $1,558,834.20
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 149,000 $151,860.80
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 95,000 $95,475.00
084423102 WR BERKLEY CORP US WRB 32,453 $2,445,333.55
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 15,204 $3,884,165.88
086516101 BEST BUY INC US BBY 428 $49,138.68
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 42,797 $3,231,601.47
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,300,000 $1,291,001.35
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 4,079 $192,879.51
105368203 BRANDYWINE REALTY TRUST US BDN 9,441 $121,883.31
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,652 $104,290.76
12345678 JONAH ENERGY PARENT LLC US 5,224 $78,360.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 150,000 $145,875.00
12514G108 CDW CORP/DE US CDW 11,867 $1,966,955.25
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 978,238.31 $985,329.46
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 857,937.85 $850,186.12
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 272 $25,956.96
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 221,528.68 $225,550.00
12565KAA5 CLIF 2021-1A A MTGE 1.64000 02/18/2046 US 2,050,000 $2,001,969.73
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 145,000 $151,929.55
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 652,322.93 $666,307.30
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 509,526.61 $513,574.14
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 271,235.66 $274,143.71
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 127,869.26 $130,353.63
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 145,000 $147,537.50
127097103 CABOT OIL & GAS CORP US COG 219,294 $4,118,341.32
133131102 CAMDEN PROPERTY TRUST US CPT 1,591 $174,866.81
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,378,000 $2,437,695.03
13321L108 CAMECO CORP CA CCJ 142,188 $2,361,742.68
14174T107 CARETRUST REIT INC US CTRE 3,618 $84,245.13
149123101 CATERPILLAR INC US CAT 506 $117,326.22
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 391,339.64 $393,194.32
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 95,000 $106,480.74
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 4,473 $2,759,930.46
172062101 CINCINNATI FINANCIAL CORP US CINF 196 $20,205.64
17275R102 CISCO SYSTEMS INC US CSCO 2,963 $153,216.73
172967424 CITIGROUP INC US C 1,476 $107,379.00
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,135,000 $2,404,340.07
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,530,000 $2,431,102.30
191216100 COCA COLA CO/THE US KO 61,196 $3,225,641.16
194162103 COLGATE-PALMOLIVE CO US CL 905 $71,341.15
20030N101 COMCAST CORP-CL A US CMCSA 2,231 $120,719.41
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,546,000 $2,617,261.17
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,230,855.37 $1,262,734.52
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,672 $169,352.64
205887102 CONAGRA BRAND INC. US CAG 825 $31,020.00
20825C104 CONOCOPHILLIPS US COP 51,848 $2,746,388.56
21036P108 CONSTELLATION BRANDS INC-A US STZ 188 $42,864.00
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 12,624 $180,018.24
217204106 COPART INC US CPRT 16,470 $1,788,806.70
222795502 COUSINS PROPERTIES INC US CUZ 7,251 $256,322.85
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 145,000 $152,612.50
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,583,000 $1,609,724.36
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 2,230,000 $2,250,591.60
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 1,800,000 $1,797,782.94
22822V101 CROWN CASTLE INTL CORP US CCI 436 $75,048.68
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,332,000 $2,401,198.35
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 298,492.29 $302,123.36
231021106 CUMMINS INC US CMI 204 $52,858.44
23311VAG2 DCP MIDSTREAM 5.37500 07/15/2025 US 90,000 $97,526.25
253868103 DIGITAL REALTY TRUST INC US DLR 2,264 $318,861.76
256677105 DOLLAR GENERAL CORP US DG 9,538 $1,932,589.56
256746108 DOLLAR TREE STORES INC US DLTR 17,064 $1,953,145.44
25960P109 DOUGLAS EMMETT INC US DEI 4,131 $129,713.40
260003108 DOVER CORP US DOV 169 $23,174.97
26150TAE9 DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 US 250,000 $256,333.10
264411505 DUKE RLTY INVTS INC US DRE 5,637 $236,359.41
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 90,000 $90,138.60
26875P101 EOG RESOURCES INC US EOG 26,998 $1,958,164.94
26884L109 EQT CORP US EQT 111,467 $2,071,056.86
2715777 QUEBECOR INC -CL B CA QBR/B CN 12,057 $323,707.47
285512109 ELECTRONIC ARTS US EA 12,644 $1,711,618.28
291011104 EMERSON ELEC CO US EMR 738 $66,582.36
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,728,000 $3,244,564.34
29275YAC6 ENERSYS 4.37500 12/15/2027 US 90,000 $92,025.00
29444U700 EQUINIX INC US EQIX 4,128 $2,805,347.52
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 4,117 $262,005.88
297178105 ESSEX PROPERTY TRUST INC US ESS 565 $153,589.60
30212P303 EXPEDIA INC US EXPE 28,068 $4,831,064.16
30212PBB0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 1,170,000 $1,302,528.46
30225T102 EXTRA SPACE STORAGE INC US EXR 1,085 $143,816.75
30231G102 EXXON MOBIL CORP US XOM 36,789 $2,053,929.87
302491303 FMC CORP US FMC 23,953 $2,649,441.33
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 133,000 $133,665.00
30287EAE0 FREMF 2014-K41 B FLT 3.83364 11/25/2047 US 48,000 $52,110.87
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 142,413,207.37 $193,254.72
30303M102 FACEBOOK INC -A US FB 27,724 $8,165,549.72
303250104 FAIR ISAAC CORP US FICO 4,669 $2,269,367.45
311900104 FASTENAL CO US FAST 843 $42,386.04
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 867.75 $1,020.53
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 121,655.63 $143,103.77
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 144,182.87 $172,093.72
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 11,497.49 $13,514.67
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 12,431.37 $14,570.57
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 155,733.37 $183,134.06
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 65,104.97 $76,694.74
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 87,304.44 $104,293.55
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 2,873.28 $2,966.47
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 2,955.4 $2,987.70
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 2,318.62 $2,345.13
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 3,151.3 $3,234.03
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 4,615.02 $4,731.54
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 131,366.97 $143,399.07
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 184,565.28 $215,995.98
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 527,907.89 $582,398.94
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 7,803.2 $8,603.66
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 11,770.3 $13,009.31
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 906,968.95 $1,023,036.71
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 260,648.53 $276,383.48
3132D56Z0 FEDERAL NATL MTG ASSN FR SB8088 1.50000 02/01/2036 US 3,146,075.78 $3,161,359.20
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 3,361,335.04 $3,450,086.59
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 173,723.31 $191,367.95
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 362,173.94 $395,558.43
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 4,000,000 $4,050,322.84
3133KYUZ0 FHLM POOL RB5100 2.00000 02/01/2041 US 2,579,005.21 $2,611,450.10
3136AY6W8 FNA 2017-M15 A1 FLT 2.95954 09/25/2027 US 1,423,775.33 $1,529,172.01
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 300,400.76 $311,083.46
3137ADTK3 FHMS K014 X1 FLT 1.46248 04/25/2021 US 399,026.59 $3.99
3137AJMG6 FMHS K016 X1 FLT 1.48185 10/25/2021 US 4,752,044.09 $7,501.10
3137AME78 FHMS K017 X1 FLT 1.28501 12/25/2021 US 7,584,150.9 $27,329.49
3137AUPF0 FHMS K021 x1 FLT 1.39972 06/25/2022 US 11,043,508.77 $123,855.16
3137B3NB0 FHMS K030 X1 FLT 0.16646 04/25/2023 US 56,908,191.38 $172,830.18
3137B4GZ3 FHMS K032 X1 FLT 0.08767 05/25/2023 US 36,051,586.07 $81,368.43
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 219,293.53 $220,770.84
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 45,729.72 $45,827.65
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 546,499.12 $649,599.14
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 364,234.42 $433,686.42
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 165,829.03 $186,564.56
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64200 01/01/2049 US 1,436,582.71 $1,647,090.59
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 547,483.94 $605,961.06
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 349,732.1 $409,375.91
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 395,350.71 $428,297.30
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 97,250.13 $103,619.30
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 139,660.39 $153,589.41
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 833.25 $837.00
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 1,607.89 $1,617.65
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 1,233.76 $1,235.02
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2,900.37 $2,911.17
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 270,604.16 $322,315.83
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 570,882.7 $682,278.84
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 7.96 $7.99
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 1,064.79 $1,069.56
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 508,686.21 $570,421.79
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 397,832.95 $439,575.78
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 392,646.7 $433,855.93
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 609,750.06 $645,208.57
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 908,238.44 $966,506.32
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 3,335,798.24 $3,447,301.10
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 3,383,824.1 $3,426,296.47
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 29,801.79 $35,617.12
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 97,839.1 $116,933.52
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 8,192.1 $9,631.37
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 7,472.74 $7,853.62
316773100 FIFTH THIRD BANCORP US FITB 996 $37,300.20
32054K103 FIRST INDUSTRIAL REALTY TR US FR 3,678 $168,415.62
343412AC6 FLUOR CORP 3.50000 12/15/2024 US 145,000 $149,259.23
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369550108 GENERAL DYNAMICS CORP US GD 288 $52,289.28
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374297109 GETTY REALTY CORP US GTY 4,306 $121,945.92
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4031976 ADIDAS AG DE ADS GR 435 $135,890.05
404119BX6 HCA INC 4.12500 06/15/2029 US 1,617,000 $1,790,844.22
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418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 103,000 $99,137.50
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421946104 HEALTHCARE REALTY TRUST INC US HR 2,993 $90,747.76
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42250P103 HEALTHPEAK PROPERTIES INC US PEAK 7,671 $243,477.54
423012301 HEINEKEN NV-SPN ADR NL HEINY 34,865 $1,799,034.00
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43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 969 $117,171.48
437076102 HOME DEPOT INC US HD 761 $232,295.25
438516106 HONEYWELL INTERNATIONAL INC US HON 593 $128,722.51
440452100 HORMEL FOODS CORP US HRL 570 $27,234.60
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 85,000 $98,493.75
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 98,000 $107,848.02
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 155,000 $156,984.00
45168D104 IDEXX LABORATORIES INC US IDXX 4,165 $2,037,976.15
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45337C102 INCYTE CORP US INCY 13,040 $1,059,760.80
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 155,000 $155,000.00
45778Q107 INSPERITY INC US NSP 21,736 $1,820,172.64
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 255 $45,940.80
458140100 INTEL CORP US INTC 2,727 $174,528.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 32,969 $3,681,977.92
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 734 $97,812.84
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 131 $18,288.91
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 140,000 $147,875.00
46187BAA1 IHSFR 2017-SFR2 A 0.95800 12/17/2036 US 578,759.11 $579,392.39
46187BAB9 IHSFR 2017-SFR2 B 1.25800 12/17/2036 US 477,000 $477,896.86
46187W107 INVITATION HOMES INC US INVH 13,595 $434,904.05
464288620 ISHARES BROAD USD INVESTMENT 1.64000 US 64,425 $3,803,652.00
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46625H100 JP MORGAN CHASE & CO US JPM 1,671 $254,376.33
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46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 231,285.94 $235,382.57
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 504,671.57 $515,966.07
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 2,838,000 $2,886,394.68
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 29,788.19 $30,224.96
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 72,591.45 $72,640.28
478160104 JOHNSON & JOHNSON US JNJ 34,388 $5,651,667.80
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 83,000 $92,960.00
482480100 KLA-TENCOR CORPORATION US KLAC 218 $72,027.20
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 144,000 $160,200.00
49427F108 KILROY REALTY CORP US KRC 3,001 $196,955.63
494368103 KIMBERLY CLARK CORP US KMB 385 $53,534.25
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 2,299,000 $3,078,573.96
501044101 KROGER CO US KR 1,179 $42,432.21
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 140,000 $140,000.00
5107401 BEIERSDORF AG DE BEI GR 2,045 $216,076.70
512816109 LAMAR ADVERTISING CO-A US LAMR 1,165 $109,416.80
53223X107 LIFE STORAGE INC US LSI 1,743 $149,810.85
532457108 ELI LILLY & CO US LLY 527 $98,454.14
539830109 LOCKHEED MARTIN CORP US LMT 240 $88,680.00
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 88,000 $92,125.44
54240F202 LONESTAR RES US INC NPV US LONE 6,758 $37,844.80
550021109 LULULEMON - ADR CA LULU 7,082 $2,172,120.22
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 155,000 $161,393.75
56585A102 MARATHON PETROLEUM CORP US MPC 876 $46,857.24
573284106 MARTIN MARIETTA MATERIALS US MLM 2,778 $932,907.96
57636Q104 MASTERCARD INC-CLASS A US MA 17,157 $6,108,749.85
5852842 ACCOR SA FR AC FP 1,810 $68,193.34
58933Y105 MERCK & CO INC US MRK 1,783 $137,451.47
594918104 MICROSOFT CORP US MSFT 22,841 $5,385,222.57
595112103 MICRON TECHNOLOGY INC US MU 23,324 $2,057,410.04
59522J103 MID-AMERICA APARTMENT COMM US MAA 2,277 $328,707.72
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 66,582 $3,897,044.46
615369105 MOODY'S CORPORATION US MCO 5,338 $1,593,980.18
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62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 140,000 $135,100.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 109,000 $255,713.18
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 180,000 $195,525.00
63938EAC8 NAVSL 2014-1 A3 FLT 0.61863 06/25/2031 US 1,303,331.97 $1,293,528.83
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 97,000 $106,942.50
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 1,234,541.46 $1,239,438.39
63942FAB1 NAVSL 2020-1A A1B 1.15863 06/25/2069 US 1,958,204 $1,999,016.69
64032XAA3 NSLT 2012-3A A MTGE FLT 0.80863 02/25/2045 US 332,540.87 $330,934.63
64033GAA9 NSLT 2013-5A A MTGE FLT 0.73863 01/25/2037 US 464,274.23 $461,300.09
64033NAA4 NLST 2014-5A A 0.65863 07/25/2046 US 1,754,761.07 $1,748,844.72
64033QAB5 NSLT 2015-2A A2 0.70863 09/25/2047 US 657,260.91 $654,671.89
64110D104 NETAPP INC US NTAP 354 $25,725.18
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 145,000 $148,973.00
644393AB6 NEW FORTRESS ENERGY INC 6.50000 09/30/2026 US 85,000 $85,552.50
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 434,054.34 $462,305.55
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 513,345.9 $544,245.01
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 601,780.47 $640,483.50
6490995 KEYENCE CORP JP 6861 JP 200 $91,151.25
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 685,000 $705,995.25
651639106 NEWMONT GOLDCORP CORP US NEM 29,657 $1,787,427.39
655844108 NORFOLK SOUTHN CORP US NSC 8,235 $2,211,262.20
6642321 NIKON CORP JP 7731 JP 173,500 $1,630,099.07
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 497,000 $49.70
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 145,000 $151,162.50
66987V109 NOVARTIS AG- REG CH NVS 44,752 $3,825,400.96
670346105 NUCOR CORP US NUE 506 $40,616.62
67066G104 NVIDIA CORP US NVDA 3,661 $1,954,717.73
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 150,000 $154,125.00
6742340 SHANDONG WEIGAO CN 1066 HK 156,000 $309,344.68
6821506 SONY CORP FIRST SECTION JP 6758 JP 2,200 $232,833.64
68389X105 ORACLE CORP US ORCL 1,528 $107,219.76
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 115,000 $122,944.28
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,290,000 $1,318,631.63
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,371,000 $1,415,927.67
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 60,000 $62,136.53
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 100,000 $101,480.00
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 565,980.97 $576,004.95
693475105 PNC FINANCIAL SERVICES GROUP US PNC 335 $58,762.35
693506107 PPG INDUSTRIES INC US PPG 237 $35,611.62
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 145,000 $155,150.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 90,000 $96,075.00
701094104 PARKER HANNIFIN CORP US PH 135 $42,583.05
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,435 $404,621.31
70450Y103 PAYPAL HOLDINGS INC US PYPL 15,352 $3,728,079.68
7123870 NESTLE SA-REGISTERED CH NESN SW 28,814 $3,212,080.73
717081103 PFIZER INC US PFE 3,979 $144,159.17
723787107 PIONEER NATURAL RESOURCES CO US PXD 12,387 $1,967,303.34
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 180,000 $194,260.50
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 1,595,625.8 $1,631,753.32
74340W103 PROLOGIS US PLD 7,773 $823,938.00
74460D109 PUBLIC STORAGE INC US PSA 1,573 $388,153.48
747525103 QUALCOMM INC US QCOM 810 $107,397.90
74834L100 QUEST DIAGNOSTICS INC US DGX 218 $27,978.12
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 135,000 $141,581.25
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 2,513 $36,941.10
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 1,165 $90,019.55
75606DAL5 REALOGY GROUP/CO-ISSUER 5.75000 01/15/2029 US 115,000 $113,418.75
756109104 REALTY INCOME CORP US O 1,071 $68,008.50
7591EP100 REGIONS FINANCIAL CORP. US RF 1,440 $29,750.40
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,711 $176,215.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 2,857 $143,992.80
7698356 GETINGE AB-B SHS SE GETIB SS 13,655 $379,238.22
773903109 ROCKWELL AUTOMATION INC US ROK 149 $39,550.56
7792559 HEINEKEN NV NL HEIA NA 2,530 $259,724.47
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 17,698 $651,817.34
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 19,024 $2,187,760.00
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 520,000 $517,795.36
78403DAR1 SBA TOWER TRUST 2.32800 01/15/2028 US 1,800,000 $1,828,224.18
78409V104 S&P GLOBAL INC US SPGI 3,646 $1,286,564.02
78410G104 SBA COMMUNICATIONS CORP US SBAC 19,235 $5,338,674.25
78442GQJ8 SLMA 2005-7 A4 FLT 0.36775 10/25/2029 US 1,072,386.27 $1,064,031.31
78442PGC4 SLM CORP 5.12500 04/05/2022 US 227,000 $232,107.50
78442PGD2 SLM CORP 4.20000 10/29/2025 US 95,000 $99,751.89
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 1,879,000 $1,929,615.00
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 89,864.23 $90,830.05
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 34,602.29 $34,667.25
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 3,211,000 $3,760,051.43
806857108 SCHLUMBERGER LTD NL SLB 7,502 $203,979.38
81141R100 SEA LTD - ADR SG SE 17,774 $3,967,690.02
81181C104 SEAGEN INC US SGEN 23,313 $3,237,243.18
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 903,349.05 $910,462.92
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 296,730.9 $299,598.92
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 381,329.71 $385,225.83
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 522,152.25 $523,948.51
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 209,293.91 $212,709.59
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 182,567.5 $186,548.38
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 16,513.5 $16,616.66
81762P102 SERVICENOW INC US NOW 3,640 $1,820,400.40
83088M102 SKYWORKS SOLUTIONS INC US SWKS 188 $34,494.24
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 2,442,081.1 $2,541,267.44
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 203 $25,685.59
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 228,171.14 $233,502.06
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 878,797.13 $909,083.29
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 63,953.5 $64,467.66
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 202,248.88 $203,713.24
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 1,126,000 $1,158,714.47
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 150,000 $153,375.00
835699307 SONY CORP SPONSORED ADR JP SONY 20,235 $2,145,112.35
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 955,000 $972,954.00
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 2,237,000 $2,544,400.71
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 108,000 $124,561.80
85254J102 STAG INDUSTRIAL INC US STAG 3,033 $101,939.13
854502101 STANLEY WORKS/THE US SWK 167 $33,344.89
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 190,000 $197,273.20
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57600 11/15/2027 US 1,910,952.51 $1,404,550.09
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 195,000 $202,800.00
866674104 SUN COMMUNITIES US SUI 2,623 $393,554.92
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 228,968.83 $230,184.84
87105L104 SWITCH INC - A US SWCH 14,663 $238,420.38
871829107 SYSCO CORP US SYY 541 $42,598.34
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,368 $161,807.04
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 95,000 $76,296.88
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 150,000 $146,580.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 61,697.81 $61,831.01
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 145,000 $147,537.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,415,000 $4,793,233.05
88146M101 TERRENO REALTY CORP US TRNO 2,072 $119,699.44
882508104 TEXAS INSTRUMENTS INC US TXN 792 $149,680.08
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,810 $1,738,807.80
88579Y101 3M CO US MMM 530 $102,120.40
89151E109 TOTAL S A SPONSORED ADR FR TOT 22,003 $1,024,019.62
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 847,394.68 $863,627.63
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 635,115.15 $645,942.66
89177EAA7 TPMT 2019-HY1 A1 1.10863 10/25/2048 US 640,803.72 $645,588.22
89417E109 TRAVELLERS COS INC US TRV 289 $43,465.60
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,503,792.09 $1,539,259.03
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 57,947.47 $56,994.85
89832Q109 TRUIST FINANCIAL CORP US TFC 1,424 $83,047.68
902494103 TYSON FOODS INC -CL A US TSN 444 $32,989.20
902653104 UDR INC US UDR 4,630 $203,071.80
902973304 U.S. BANCORP US USB 1,516 $83,849.96
904767704 UNILEVER PLC - ADR GB UL 99,902 $5,577,528.66
907818108 UNION PAC CORP US UNP 582 $128,278.62
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 76,478.91 $74,410.64
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 93,095.75 $94,149.60
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $222,078.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,800,000 $4,782,359.36
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,967,000 $4,427,079.01
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 19,373,000 $19,433,141.93
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 18,625,000 $19,227,402.34
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 9,090,000 $9,710,321.51
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 18,390,000 $19,459,637.06
918204108 VF CORP US VFC 513 $40,998.96
91913Y100 VALERO ENERGY US VLO 497 $35,585.20
92212KAB2 VDC 2020-1A A2 1.64500 09/15/2045 US 1,250,000 $1,250,427.25
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 3,050,000 $3,443,929.31
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,834 $4,691,908.26
92556V106 VIATRIS INC US VTRS 500 $6,985.00
92826C839 VISA INC - CLASS A SHARES US V 28,628 $6,061,406.44
929160109 VULCAN MATERIALS CO US VMC 11,055 $1,865,531.25
93065PAA9 WBHT 2019-WBM A FLT 1.15600 12/15/2033 US 1,204,000 $1,202,541.47
931142103 WAL MART STORES US WMT 1,544 $209,721.52
93114W107 WALMART DE MEXICO MX WMMVY 63,093 $1,995,000.66
94106L109 WASTE MANAGEMENT INC US WM 482 $62,187.64
949746101 WELLS FARGO COMPANY US WFC 3,278 $128,071.46
95040Q104 WELLTOWER INC. US WELL 1,607 $115,109.41
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 135,000 $149,175.00
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,630,000 $2,562,662.24
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 211,115.29 $216,089.82
98978V103 ZOETIS INC US ZTS 5,650 $889,762.00
B02J639 ADMIRAL GROUP PLC GB ADM LN 12,060 $515,455.35
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 13,200 $83,270.53
B1Y9TB3 DANONE FR BN FP 5,016 $343,335.50
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 27,176 $517,267.38
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $169,815.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $354,941.47
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $280,435.36
B4YVF56 BRENNTAG AG DE BNR GR 2,953 $252,271.58
B63QM77 NEXON CO LTD JP 3659 JP 127,800 $4,146,859.86
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $56,350.35
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 2,609 $92,580.79
BFZZM64 S4 CAPITAL PLC GB SFOR LN 34,171 $238,367.19
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 53,888 $69,766.68
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 200,000 $212,000.40
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,108 $123,703.66
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $203,959.08
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 34,428 $2,747,614.51
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,371 $66,439.20
BNGN9Z1 FINECOBANK SPA IT FBK IM 32,215 $527,030.49
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 19,105 $146,077.40
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 45,117 $142,484.03
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 9,600 $276,291.81
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 9,629 $244,474.18
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 2,455 $154,328.29
BZ1HM42 ADYEN NV NL ADYEN NA 78 $174,049.62
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,887 $148,561.14
G1151C101 ACCENTURE PLC - CL A IE ACN 366 $101,107.50
G29183103 EATON CORP PLC US ETN 480 $66,374.40
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,097 $65,457.99
G5494J103 LINDE PLC GB LIN 336 $94,127.04
G5960L103 MEDTRONIC INC IE MDT 22,016 $2,600,750.08
G85158106 STONECO LTD-A BR STNE 3,051 $186,782.22
G8994E103 TRANE TECHNOLOGIES IE TT 1,339 $221,684.84
G97822103 PERRIGO CO PLC IE PRGO 5,045 $204,171.15
H01301128 ALCON INC CH ALC 68,564 $4,811,821.52
H1467J104 CHUBB LTD CH CB 422 $66,663.34
H2906T109 GARMIN LTD CH GRMN 235 $30,984.75
N53745100 LYONDELLBASELL INDU-CL A US LYB 454 $47,238.70
USD US DOLLAR US 8,826,592.86 $8,826,592.86
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $156,000.00
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,000.00

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class S Distribution History
  • 2021 Distribution Calendar
  • Fourth Quarter 2020 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 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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