Search
Filter by type
Pro-Blend® Moderate Term Series
Pro-Blend® Moderate Term Series
Pro-Blend® Conservative Term Series
Pro-Blend® Extended Term Series
Pro-Blend® Maximum Term Series
Pro-Blend® Moderate Term Series
Target 2015 Series
Target 2020 Series
Target 2025 Series
Target 2030 Series
Target 2035 Series
Target 2040 Series
Target 2045 Series
Target 2050 Series
Target 2055 Series
Target 2060 Series
Target Income Series
Investment Objective
To provide equal emphasis on long-term capital growth and capital preservation.
Investment Strategy
The portfolio is invested in a moderately conservative mix of securities that seeks to balance growth and capital preservation for a more stable rate of return relative to an investment in the stock market. Holdings are diversified primarily among intermediate to long-term fixed income securities. Because this fund is designed to moderate risk, stocks will typically be a minority in the portfolio, unless the fund manager’s analysis shows that the stock market is especially attractive.
The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.
May be Appropriate for Investors
- Who want long term capital growth and who seek to minimize extreme declines in account value
- Who have a moderate tolerance for capital risk
About Risk-Based Funds
Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her personal situation changes over the years.
Time Horizon & Range of Stock Exposure
| Conservative Term | Moderate Term | Extended Term | Maximum Term |
| 0-5 Years | 3-10 Years | 15+ Years | 7-20 Years |
| 15-45% | 20-60% | 40-70% | 70-95% |
Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.
Daily Price
$14.00
Daily $ Change
$0.01
Daily % Change
0.07%
as of 01/21/2020
Ticker
MNMWX
CUSIP
56382R282
Inception Date
04/01/2019
This fund is only available to discretionary investment accounts and other accounts managed by the Advisor.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Fact Sheet | --- |
| Applications & Forms |
Performance
As of 12/31/2019
YTD
---
1 Year
16.92%
3 Year
7.97%
5 Year
4.47%
10 Year
5.95%
Inception
(09/15/1993)
6.59%
US Stock Market Cycle (04/01/2000 - 12/31/2019)
5.97%
Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.70% |
| Net | 0.10%* |
*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.
Top Ten Investments
As of 12/31/2019
| GOVERNMENT AGENCY | 10.66% |
| TREASURY NOTES | 7.92% |
| TREASURY BONDS | 5.79% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 3.15% |
| TSY INFL IX N/B 2.00000 01/15/2026 | 2.28% |
| FACEBOOK INC -A | 1.59% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 1.56% |
| MEDTRONIC INC | 1.38% |
| NOVARTIS AG- REG | 1.34% |
| MASTERCARD INC-CLASS A | 1.29% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 12/31/2019
| Bonds | 57.66% |
| Stocks | 40.04% |
| Cash | 2.30% |
Detailed Asset Class Allocation
As of 12/31/2019
| International Equities | 15.41% |
| Small Capitalization | 0.22% |
| Mid Capitalization | 1.24% |
| Large Capitalization | 23.17% |
| Long Term Fixed Income | 19.00% |
| Intermediate Term Fixed Income | 29.99% |
| Short Term Fixed Income | 8.67% |
| Cash | 2.30% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
December Fund Holdings
As of 12/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 40,000 | $42,200.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 2,350,000 | $2,581,197.91 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 1,276 | $112,977.04 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 1,195 | $30,986.35 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 65,000 | $62,725.00 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 43,180 | $2,565,755.60 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 2,430,000 | $2,613,017.30 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 65,000 | $65,000.00 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 750 | $52,627.50 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 535,000 | $554,873.97 | |
| 013093AD1 | ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 | US | 40,000 | $41,400.00 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 275 | $44,434.50 |
| 01609W102 | ALIBABA GROUP - ADR | CN | BABA | 8,550 | $1,813,455.00 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 1,800,000 | $1,875,441.92 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 310 | $34,859.50 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 1,720 | $2,299,674.40 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 1,730 | $2,317,144.70 |
| 023135106 | AMAZON.COM INC | US | AMZN | 1,605 | $2,965,783.20 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 186,776 | $870,376.16 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 42,533 | $1,792,211.85 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 1,970 | $92,649.10 |
| 0263494 | BAE SYSTEMS PLC | GB | BA/ LN | 36,430 | $272,764.84 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 5,910 | $154,901.10 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 100,000 | $102,473.46 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 6,660 | $1,530,601.20 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 2,260,000 | $2,416,232.87 | |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 55,494 | $55,869.06 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 3,995 | $140,064.70 |
| 031162100 | AMGEN INC | US | AMGN | 571 | $137,650.97 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 40,000 | $35,175.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 40,000 | $34,800.00 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 3,216 | $166,106.40 |
| 038222105 | APPLIED MATERIALS INC | US | AMAT | 812 | $49,564.48 |
| 039483102 | ARCHER-DANIELS-MIDLAND CO | US | ADM | 593 | $27,485.55 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 30,000 | $30,675.00 | |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 1,130 | $236,961.00 |
| 05722G100 | BAKER HUGHES CO | US | BKR | 1,079 | $27,654.77 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 4,285 | $150,917.70 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 3,530,000 | $3,765,439.53 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 17,240 | $3,904,860.00 |
| 086516101 | BEST BUY INC | US | BBY | 439 | $38,544.20 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 22,620 | $1,912,521.00 |
| 09247X101 | BLACKROCK INC | US | BLK | 1,510 | $759,077.00 |
| 0946580 | WEIR GROUP PLC/THE | GB | WEIR LN | 12,615 | $252,301.45 |
| 097023105 | BOEING CO | US | BA | 381 | $124,114.56 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 785 | $1,612,178.05 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 979 | $134,964.94 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 9,585 | $150,963.75 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 1,441 | $92,497.79 |
| 110448107 | BRITISH AMERICAN TOB-SP ADR | GB | BTI | 3,285 | $139,481.10 |
| 11135F101 | BROADCOM INC | US | AVGO | 292 | $92,277.84 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 40,000 | $26,000.00 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 12,110 | $1,453,200.00 |
| 12541W209 | C.H. ROBINSON WORLDWIDE INC | US | CHRW | 282 | $22,052.40 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 468,659.34 | $475,649.02 | |
| 12572Q105 | CME GROUP INC | US | CME | 7,080 | $1,421,097.60 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 848,177.76 | $832,509.54 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 1,192 | $88,553.68 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 60,000 | $65,250.00 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 1,445 | $153,314.50 |
| 13321L108 | CAMECO CORP | CA | CCJ | 18,784 | $167,177.60 |
| 149123101 | CATERPILLAR INC | US | CAT | 503 | $74,283.04 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 1,253.96 | $1,251.54 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 743,184.35 | $747,419.46 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 40,000 | $40,250.00 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 2,097,277 | $2,095,551.78 | |
| 166764100 | CHEVRON CORP | US | CVX | 1,004 | $120,992.04 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 2,993 | $143,544.28 |
| 172967424 | CITIGROUP INC | US | C | 1,248 | $99,702.72 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 1,080,000 | $1,803,013.16 | |
| 191216100 | COCA COLA CO/THE | US | KO | 56,480 | $3,126,168.00 |
| 192422103 | COGNEX CORP | US | CGNX | 14,020 | $785,680.80 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 895 | $61,611.80 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 1,760,000 | $1,787,929.53 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 1,731,006.61 | $1,714,882.11 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 2,150 | $92,149.00 |
| 20451NAG6 | COMPASS MINERALS INTERNA 6.75000 12/01/2027 | US | 80,000 | $85,000.00 | |
| 205887102 | CONAGRA BRAND INC. | US | CAG | 669 | $22,906.56 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 5,687 | $234,304.40 |
| 225310AN1 | CREDIT ACCEPTANC 5.12500 12/31/2024 | US | 40,000 | $41,538.40 | |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 2,620,000 | $2,622,457.40 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 825 | $117,273.75 |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 581,056.13 | $562,805.51 | |
| 231021106 | CUMMINS INC | US | CMI | 226 | $40,444.96 |
| 2347608 | FIRST QUANTUM MINERALS LTD | CA | FM CN | 6,220 | $63,083.75 |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 60,000 | $58,350.00 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 960 | $114,950.40 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 2,160,000 | $2,517,906.62 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 75,000 | $76,687.50 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 2,545 | $111,725.50 |
| 260557103 | DOW INC | US | DOW | 680 | $37,216.40 |
| 262006208 | DREYFUS GVT CSH MANAGEMENT | US | 9,191,019.55 | $9,191,019.55 | |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 37,675 | $961,495.13 |
| 277432100 | EASTMAN CHEM CO | US | EMN | 269 | $21,320.94 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 50,010 | $1,014,796.12 |
| 285512109 | ELECTRONIC ARTS | US | EA | 20,980 | $2,255,559.80 |
| 2866857 | LUNDIN MINING CORP | CA | LUN CN | 10,575 | $63,195.10 |
| 291011104 | EMERSON ELEC CO | US | EMR | 744 | $56,737.44 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 1,620,000 | $1,926,996.29 | |
| 29413XAD9 | ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 | US | 60,000 | $64,237.80 | |
| 29444U700 | EQUINIX INC | US | EQIX | 4,220 | $2,463,214.00 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 1,015 | $71,445.85 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 1,565 | $126,639.80 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 3,600 | $89,316.00 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 355 | $106,805.30 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 3,700,000 | $3,721,416.04 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 385 | $40,663.70 |
| 30261UAJ3 | FREMF 2013-K713 B 3.16852 04/25/2046 | US | 1,350,000 | $1,348,909.34 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 123,453,322.19 | $306,324.73 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 30,260 | $6,210,865.00 |
| 30744W107 | FARFETCH LTD - CLASS A | GB | FTCH | 6,575 | $68,051.25 |
| 311900104 | FASTENAL CO | US | FAST | 865 | $31,961.75 |
| 3128M5NM8 | FHLM POOL G03696 5.50000 01/01/2038 | US | 1,137.74 | $1,277.57 | |
| 3128M5RA0 | FHLM POOL G03781 6.00000 01/01/2038 | US | 165,955.4 | $190,098.89 | |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 167,805.87 | $192,249.24 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 175,248.7 | $196,833.01 | |
| 3128M73H7 | FHLM POOL G05900 6.00000 03/01/2040 | US | 91,850.4 | $105,099.58 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 121,122.98 | $135,459.39 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 7,530.83 | $7,792.45 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 14,739.07 | $15,055.18 | |
| 3128MBE45 | FHLM POOL G12655 6.00000 05/01/2022 | US | 10,254.13 | $10,517.78 | |
| 3128MBRH2 | FHLM POOL G12988 6.00000 01/01/2023 | US | 9,230.49 | $9,551.63 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 15,324.15 | $15,811.81 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 222,024.26 | $249,378.79 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 611,561.6 | $658,408.64 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 1,268,610.2 | $1,374,238.50 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 1,190,659.37 | $1,218,092.79 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 691,450.21 | $729,169.30 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 589,398.79 | $623,631.94 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 669.56 | $670.45 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 1,302,651.24 | $1,335,981.06 | |
| 3136AY6W8 | FNA 2017-M15 A1 2.95932 09/25/2027 | US | 1,244,003.38 | $1,287,915.95 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 1,155,365 | $1,200,068.15 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 270 | $34,757.10 |
| 3137A2B34 | FHMS K009 X1 FLT 1.25990 08/25/2020 | US | 12,322,778.34 | $61,680.43 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.14922 04/25/2021 | US | 7,690,784.4 | $90,259.81 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.47780 10/25/2021 | US | 4,942,376.65 | $110,725.55 | |
| 3137AME78 | FHMS K017 X1 FLT 1.29117 12/25/2021 | US | 7,463,096.15 | $145,116.92 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.42508 06/25/2022 | US | 9,586,680.78 | $287,231.34 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.18323 04/25/2023 | US | 49,583,409.37 | $269,912.25 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.09665 05/25/2023 | US | 37,406,646.1 | $137,970.67 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 1,162,971.1 | $1,186,152.14 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 952,537.5 | $973,215.76 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 571,676.24 | $655,579.32 | |
| 3138EHXZ0 | FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 | US | 480,909.01 | $551,458.22 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 1,011,613.36 | $1,052,074.50 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64200 01/01/2049 | US | 1,477,159.95 | $1,649,606.84 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 2,021,657.77 | $2,133,069.65 | |
| 3138Y6Y81 | FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 | US | 732,577.47 | $780,249.82 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 397,878.08 | $447,735.60 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 554,860.6 | $584,178.02 | |
| 3140EX2Y8 | FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 | US | 1,930,988.77 | $2,015,923.79 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 335,207.85 | $354,371.87 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 467,587.1 | $492,780.90 | |
| 3140J9SN2 | FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 | US | 1,960,184.67 | $1,998,083.51 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 1,262,546.37 | $1,330,148.56 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 1,608,064.3 | $1,723,781.04 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 1,575,770.51 | $1,664,740.25 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 891,386.41 | $955,512.15 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 1,447,055.33 | $1,551,122.77 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 1,554,052.44 | $1,611,064.38 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 9,984.68 | $10,173.67 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 11,410.07 | $11,652.08 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 57,309.77 | $58,003.06 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 70,161.77 | $70,979.91 | |
| 31410KJV7 | FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 | US | 347,426.54 | $398,414.07 | |
| 31416BRR1 | FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 | US | 759,498.55 | $870,391.62 | |
| 31416BSW9 | FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 | US | 1,582.82 | $1,595.75 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 45,976.75 | $46,524.40 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 676,479.39 | $734,124.06 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 484,129.44 | $520,927.43 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 477,778 | $514,099.30 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 1,484,067.71 | $1,543,715.86 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 1,448,322.94 | $1,481,939.91 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 1,467,816 | $1,528,565.15 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 1,915,228.56 | $1,999,385.66 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 938,446.4 | $975,173.27 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 1,974,657.65 | $2,029,755.10 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 37,828.93 | $43,361.99 | |
| 31418MGR7 | FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 113,478.85 | $130,064.08 | |
| 31418MQQ8 | FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 13,985.53 | $14,616.04 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 40,000 | $42,600.00 | |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 1,017 | $31,262.58 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 1,810 | $75,133.10 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 60,000 | $60,438.60 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 1,210,000 | $1,238,590.12 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 35,000 | $38,062.50 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 80,000 | $84,440.00 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 60,000 | $62,475.00 | |
| 35563BAJ9 | FREMF 2014-K37 B FLT 4.55921 01/25/2047 | US | 1,657,000 | $1,785,048.82 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 155,000 | $163,137.50 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 589,000 | $589,094.53 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 28,611.02 | $28,766.78 | |
| 364760108 | GAP INC | US | GPS | 726 | $12,835.68 |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 230 | $40,560.50 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 1,910,000 | $1,870,768.60 | |
| 370334104 | GENERAL MLS INC | US | GIS | 829 | $44,401.24 |
| 372460105 | GENUINE PARTS CO | US | GPC | 274 | $29,107.02 |
| 374297109 | GETTY REALTY CORP | US | GTY | 1,520 | $49,962.40 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,294 | $84,084.12 |
| 37953TAB1 | GLOBAL SHIP LEASE INC 9.87500 11/15/2022 | MH | 130,000 | $135,525.00 | |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 85,000 | $88,693.25 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 1,492,376.09 | $1,492,724.11 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 89,150 | $1,484,347.50 |
| 400506101 | GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 1,085 | $128,691.85 |
| 40051E202 | GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 700 | $131,173.00 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 1,810,000 | $1,920,553.32 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 20,000 | $18,600.00 | |
| 406216101 | HALLIBURTON CO | US | HAL | 78,330 | $1,916,735.10 |
| 416515104 | HARTFORD FINL SVCS | US | HIG | 404 | $24,551.08 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 3,185 | $106,283.45 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,965 | $59,500.20 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 5,035 | $173,556.45 |
| 427866108 | HERSHEY CO/THE | US | HSY | 285 | $41,889.30 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 455 | $50,464.05 |
| 437076102 | HOME DEPOT INC | US | HD | 779 | $170,118.02 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 587 | $103,899.00 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 3,720 | $69,006.00 |
| 45031UCG4 | ISTAR INC 4.25000 08/01/2025 | US | 40,000 | $40,438.40 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 65,000 | $67,720.90 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 333 | $59,816.79 |
| 45337C102 | INCYTE CORP | US | INCY | 10,820 | $944,802.40 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 5,145 | $72,441.60 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 60,000 | $61,846.80 | |
| 458140100 | INTEL CORP | US | INTC | 3,248 | $194,392.80 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 16,280 | $1,506,714.00 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 783 | $104,953.32 |
| 460146103 | INTERNATIONAL PAPER CO | US | IP | 466 | $21,459.30 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.58738 12/17/2036 | US | 503,721.66 | $501,806.46 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 2.88738 12/17/2036 | US | 400,000 | $399,428.60 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 8,374 | $250,968.78 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 1,676 | $233,634.40 |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 488,574.57 | $492,269.66 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 480,252.59 | $490,359.03 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 605,768.68 | $611,667.84 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 1,730,000 | $1,844,996.92 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 1,020,015.51 | $1,030,932.74 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 1,141,188.03 | $1,155,570.42 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 27,150 | $3,200,829.50 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 6,720 | $128,620.80 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 32,445 | $4,732,752.15 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 80,000 | $23,600.00 | |
| 4821100 | SOLVAY SA | BE | SOLB BB | 2,995 | $348,598.34 |
| 482480100 | KLA-TENCOR CORPORATION | US | KLAC | 248 | $44,186.16 |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 60,000 | $62,850.00 | |
| 487836108 | KELLOGG CO | US | K | 464 | $32,090.24 |
| 493267108 | KEYCORP | US | KEY | 1,381 | $27,951.44 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 450 | $37,755.00 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 411 | $56,533.05 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 1,910,000 | $2,530,516.77 | |
| 500255104 | KOHLS CORP | US | KSS | 307 | $15,641.65 |
| 50050N103 | KONTOOR BRANDS INC | US | KTB | 40 | $1,679.60 |
| 501044101 | KROGER CO | US | KR | 861 | $24,960.39 |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 80,000 | $83,800.00 | |
| 5107401 | BEIERSDORF AG | DE | BEI GR | 1,540 | $184,229.95 |
| 512807108 | LAM RESEARCH CORP | US | LRCX | 142 | $41,520.80 |
| 516806AD8 | LAREDO PETROLEUM INC 5.62500 01/15/2022 | US | 40,000 | $38,800.00 | |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 910 | $54,645.50 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 355 | $38,439.40 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 245 | $95,398.10 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 40,000 | $27,300.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 14,625 | $3,388,173.75 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 876 | $52,779.00 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 16,840 | $5,028,255.60 |
| 57772K101 | MAXIM INTEGRATED PRODUCTS | US | MXIM | 411 | $25,280.61 |
| 58933Y105 | MERCK & CO INC | US | MRK | 12,540 | $1,140,513.00 |
| 594918104 | MICROSOFT CORP | US | MSFT | 19,240 | $3,034,148.00 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 82,070 | $4,413,724.60 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 555 | $73,182.30 |
| 60871R209 | MOLSON COORS BREWING CO -B | US | TAP | 330 | $17,787.00 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 57,701 | $3,178,171.08 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 6,340 | $1,505,179.40 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 40,000 | $30,400.00 | |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 15,000 | $12,525.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 80,000 | $77,200.00 | |
| 6356934 | FANUC LTD | JP | 6954 JP | 400 | $73,865.97 |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 1,205 | $64,612.10 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 1,220 | $41,016.40 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 60,000 | $60,882.00 | |
| 63938EAC8 | NAVSL 2014-1 A3 2.30200 06/25/2031 | US | 1,218,415.95 | $1,195,049.78 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 772,094.76 | $775,532.74 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.79200 02/27/2068 | US | 2,590,000 | $2,583,269.89 | |
| 64110D104 | NETAPP INC | US | NTAP | 289 | $17,990.25 |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 471,102.69 | $485,964.28 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 624,349.46 | $644,681.96 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 666,682.91 | $688,530.44 | |
| 6490995 | KEYENCE CORP | JP | 6861 JP | 500 | $175,569.29 |
| 6514442 | METROPOLITAN BANK & TRUST | PH | MBT PM | 3,589 | $4,698.40 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 80,000 | $60,000.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 55,295 | $5,235,883.55 |
| 670346105 | NUCOR CORP | US | NUE | 514 | $28,927.92 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 40,000 | $41,500.00 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 13,035 | $3,067,135.50 |
| 67087MAA4 | OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 | US | 115,000 | $114,903.30 | |
| 6742340 | SHANDONG WEIGAO | CN | 1066 HK | 156,000 | $186,926.85 |
| 674599105 | OCCIDENTAL PETROLEUM CORP | US | OXY | 734 | $30,248.14 |
| 675232AB8 | OCEANEERING INTL INC 6.00000 02/01/2028 | US | 60,000 | $58,800.00 | |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 40,000 | $42,248.00 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 1,785 | $75,594.75 |
| 6821506 | SONY CORP FIRST SECTION | JP | 6758 JP | 3,700 | $251,221.55 |
| 7021963 | DEUTSCHE BOERSE AG | DE | DB1 GR | 1,830 | $286,968.41 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 14,085 | $1,523,574.45 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 33,694 | $3,647,890.07 |
| 713448108 | PEPSICO INC | US | PEP | 21,420 | $2,927,471.40 |
| 717081103 | PFIZER INC | US | PFE | 4,114 | $161,186.52 |
| 718546104 | PHILLIPS 66 | US | PSX | 408 | $45,455.28 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 60,000 | $55,800.00 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 6,530 | $123,678.20 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 2,351 | $43,234.89 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 3,600,000 | $3,843,228.10 | |
| 74166MAB2 | PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 | US | 40,000 | $42,320.00 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 40,000 | $43,475.20 | |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 1,285,000 | $1,301,739.57 | |
| 74340W103 | PROLOGIS | US | PLD | 4,325 | $385,530.50 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 610 | $129,905.60 |
| 74834L100 | QUEST DIAGNOSTICS INC | US | DGX | 204 | $21,785.16 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 60,000 | $63,150.00 | |
| 756109104 | REALTY INCOME CORP | US | O | 575 | $42,337.25 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,228 | $21,072.48 |
| 76131D103 | RESTAURANT BRANDS INTERN | CA | QSR | 4,335 | $276,442.95 |
| 7698356 | GETINGE AB-B SHS | SE | GETIB SS | 8,700 | $161,795.42 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 60,000 | $60,635.86 | |
| 773903109 | ROCKWELL AUTOMATION INC | US | ROK | 119 | $24,117.73 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 19,914 | $1,744,665.54 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 5,630 | $1,537,271.50 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 6,180 | $1,489,318.20 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 80,000 | $82,800.00 | |
| 78490DAA2 | SOFI 2018-C A1FX 3.08000 01/25/2048 | US | 969,229.52 | $973,327.71 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 2,690,000 | $3,092,219.64 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 2,320,000 | $2,504,545.65 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 59,708 | $2,400,261.60 |
| 81141R100 | SEA LTD - ADR | SG | SE | 4,895 | $196,876.90 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 7,990 | $912,937.40 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 615,446.38 | $616,589.51 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 709,408.37 | $714,489.86 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 924,391.95 | $882,067.56 | |
| 81762P102 | SERVICENOW INC | US | NOW | 11,170 | $3,153,514.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 40,000 | $38,100.00 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 1,655 | $246,528.80 |
| 832696405 | JM SMUCKER CO/THE-NEW COM WI | US | SJM | 199 | $20,721.87 |
| 83401BAA4 | SOFI 2017-F A1FX 2.05000 01/25/2041 | US | 84,737.93 | $84,677.11 | |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 300,000 | $302,361.66 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 746,182.03 | $751,007.22 | |
| 83406EAB1 | SOFI 2018-A A2A 2.39000 02/25/2042 | US | 298,811.1 | $299,404.75 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 44,610 | $3,033,480.00 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 2,270,000 | $2,288,155.80 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 90,000 | $91,912.50 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 40,000 | $42,300.00 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 35,000 | $37,756.25 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 2,670 | $84,291.90 |
| 85571BAP0 | STARWOOD PROPERTY TRUST 3.62500 02/01/2021 | US | 60,000 | $60,375.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.20975 11/15/2027 | US | 1,568,653.34 | $1,563,841.34 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 1,590 | $59,211.60 |
| 866674104 | SUN COMMUNITIES | US | SUI | 1,030 | $154,603.00 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 40,000 | $38,466.80 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 3,115 | $43,360.80 |
| 871829107 | SYSCO CORP | US | SYY | 646 | $55,258.84 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 218,652.32 | $218,528.69 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 50,000 | $42,500.00 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 1,690,000 | $1,825,127.62 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 830 | $106,480.70 |
| 88579Y101 | 3M CO | US | MMM | 564 | $99,500.88 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 1,079,061.38 | $1,079,129.04 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 865,406.42 | $871,311.43 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.79200 10/25/2048 | US | 784,391.52 | $786,092.55 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 40,000 | $40,600.00 | |
| 89417E109 | TRAVELLERS COS INC | US | TRV | 237 | $32,457.15 |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 1,153,066.64 | $1,150,928.39 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 1,246,463.89 | $1,255,400.04 | |
| 89832Q109 | TRUIST FINANCIAL CORP | US | TFC | 1,350 | $76,032.00 |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 100,000 | $96,500.00 | |
| 902494103 | TYSON FOODS INC -CL A | US | TSN | 339 | $30,862.56 |
| 902653104 | UDR INC | US | UDR | 2,656 | $124,035.20 |
| 902973304 | U.S. BANCORP | US | USB | 1,488 | $88,223.52 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 2,515 | $39,560.95 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 48,564 | $2,776,403.88 |
| 907818108 | UNION PAC CORP | US | UNP | 598 | $108,112.42 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 867 | $101,491.02 |
| 912810FS2 | TSY INFL IX N/B 2.00000 01/15/2026 | US | 8,012,988 | $8,906,808.53 | |
| 912810PT9 | UNITED STATES TREAS BOND 4.75000 02/15/2037 | US | 5,409,000 | $7,452,376.54 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 2,251,946.97 | $2,338,824.27 | |
| 912810RK6 | US TREASURY N/B 2.50000 02/15/2045 | US | 7,418,000 | $7,586,643.63 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 6,720,000 | $7,568,662.48 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 7,805,000 | $7,912,318.75 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 5,984,470.05 | $6,081,219.48 | |
| 912828D56 | US TREASURY N/B 2.37500 08/15/2024 | US | 10,720,000 | $11,048,300.00 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 12,327,464.78 | $12,312,536.96 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,987,000 | $3,946,662.76 | |
| 912828VB3 | UNITED STATES TREAS NTS 1.75000 05/15/2023 | US | 3,955,000 | $3,970,294.74 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 3,965,000 | $4,046,778.13 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 710 | $106,329.60 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 4,670 | $89,570.60 |
| 918204108 | VF CORP | US | VFC | 500 | $49,830.00 |
| 91913Y100 | VALERO ENERGY | US | VLO | 515 | $48,229.75 |
| 92276F100 | VENTAS INC | US | VTR | 1,398 | $80,720.52 |
| 92339V100 | VEREIT INC | US | VER | 12,555 | $116,008.20 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 2,830,000 | $3,554,279.72 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 4,460 | $976,517.00 |
| 92556H206 | VIACOMCBS INC | US | VIAC | 398 | $16,704.06 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 23,390 | $4,394,981.00 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 60,000 | $57,000.00 | |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 350,000 | $351,266.93 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 410 | $27,265.00 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 40,000 | $38,150.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.78975 12/15/2033 | US | 965,000 | $963,827.14 | |
| 931142103 | WAL MART STORES | US | WMT | 1,812 | $215,338.08 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 896 | $52,828.16 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 495 | $56,410.20 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 70,000 | $72,625.00 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 3,000 | $93,720.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 3,233 | $173,935.40 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 1,784 | $145,895.52 |
| 958102105 | WESTERN DIGITAL CORP | US | WDC | 458 | $29,069.26 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 1,840,000 | $1,919,230.05 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 393,700.35 | $393,919.40 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 625,523.78 | $637,936.67 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 810 | $50,876.10 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 85,000 | $78,200.00 | |
| B02J639 | ADMIRAL GROUP PLC | GB | ADM LN | 10,060 | $307,419.27 |
| B1KFX13 | GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 17,500 | $131,022.08 |
| B1XH026 | VINCI SA | FR | DG FP | 1,095 | $121,954.66 |
| B1Y47Y7 | GERRESHEIMER AG | DE | GXI GR | 2,255 | $174,407.04 |
| B1Y9TB3 | DANONE | FR | BN FP | 3,641 | $302,371.67 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 3,460,000 | $182,286.14 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 433,000 | $341,778.40 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 5,621,000 | $295,559.21 | |
| B4R2R50 | JULIUS BAER | CH | BAER SW | 3,155 | $162,649.47 |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 8,562,000 | $455,227.15 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 355,100 | $4,710,504.27 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 1,081,000 | $60,989.38 | |
| B7KR2P8 | EASY JET PLC | GB | EZJ LN | 97,375 | $1,834,250.71 |
| BBG00R1HNZB6 | NVDA US 01/24/20 P215 | US | -45 | -$6,840.00 | |
| BBG00R1LGYF4 | SLB US 01/24/20 P36 | NL | -270 | -$5,670.00 | |
| BBQ3850 | KEYWORDS STUDIOS PLC | IE | KWS LN | 3,767 | $74,916.81 |
| BD3HF92 | BSR REAL ESTATE INVESTMENT | CA | HOM/U CN | 1,425 | $16,515.75 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 37,110 | $58,693.33 |
| BGHVXC0 | DRILLING CO OF 1972/THE | DK | DRLCO DC | 2,055 | $135,689.90 |
| BJ2KSG2 | AKZO NOBEL | NL | AKZA NA | 1,878 | $191,789.62 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 69,828 | $3,364,044.73 |
| BMTRW10 | B&M EUROPEAN VALUE RETAIL SA | GB | BME LN | 37,350 | $202,670.18 |
| BNGN9Z1 | FINECOBANK SPA | IT | FBK IM | 19,835 | $237,938.03 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 81,855 | $2,892,809.96 |
| BVYVFW2 | AUTO TRADER GROUP PLC | GB | AUTO LN | 8,055 | $63,611.97 |
| BYXS699 | QIAGEN N.V. | NL | QIA GR | 6,172 | $210,301.43 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 38,190 | $3,127,790.52 |
| G0772R208 | BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 5,290 | $195,835.80 |
| G29183103 | EATON CORP PLC | US | ETN | 544 | $51,527.68 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,035 | $42,134.85 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 47,376 | $5,374,807.20 |
| G97822103 | PERRIGO CO PLC | IE | PRGO | 3,635 | $187,784.10 |
| H01301128 | ALCON INC | CH | ALC | 29,150 | $1,649,015.50 |
| H1467J104 | CHUBB LTD | CH | CB | 340 | $52,924.40 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 91,500 | $629,520.00 |
| N22717107 | CORE LABORATORIES N.V. | NL | CLB | 3,515 | $132,410.05 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 2,640 | $221,258.40 |
| N53745100 | LYONDELLBASELL INDU-CL A | US | LYB | 502 | $47,428.96 |
| N72482123 | QIAGEN N.V. ADR | NL | QGEN | 3,661 | $123,741.80 |
Investments will change over time.
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
$14.00
Daily $ Change
$0.01
Daily % Change
0.07%
as of 01/21/2020
Ticker
MNMWX
CUSIP
56382R282
Inception Date
04/01/2019
This fund is only available to discretionary investment accounts and other accounts managed by 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.
Performance
As of 12/31/2019
YTD
---
1 Year
16.92%
3 Year
7.97%
5 Year
4.47%
10 Year
5.95%
Inception
(09/15/1993)
6.59%
US Stock Market Cycle (04/01/2000 - 12/31/2019)
5.97%
Inception performance is based on the Pro-Blend® Moderate Term Series Class S inception of 09/15/1993. For periods through 04/01/2019 (the inception date of the Class W shares), performance for the Class W shares is based on the historical performance of the Class S shares. Because the Class W shares invest in the same portfolio of securities as the Class S shares, performance will be different only to the extent that the Class S shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.70% |
| Net | 0.10%* |
*Reflects the Advisor's contractual agreement to waive its management fee and limit and reimburse certain other expenses. These contractual waivers may not be amended or terminated without the prior approval of the Fund's Board of Directors. The Class W shares are only available to discretionary investment accounts and other accounts managed by the Advisor. These clients pay a management fee to the Advisor that is separate from the fund's expenses.
Top Ten Investments
As of 12/31/2019
| GOVERNMENT AGENCY | 10.66% |
| TREASURY NOTES | 7.92% |
| TREASURY BONDS | 5.79% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 3.15% |
| TSY INFL IX N/B 2.00000 01/15/2026 | 2.28% |
| FACEBOOK INC -A | 1.59% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 1.56% |
| MEDTRONIC INC | 1.38% |
| NOVARTIS AG- REG | 1.34% |
| MASTERCARD INC-CLASS A | 1.29% |
This investment list is unaudited and excludes cash.
Asset Allocation
As of 12/31/2019
| Bonds | 57.66% | |
| Stocks | 40.04% | |
| Cash | 2.30% |
Detailed Asset Class Allocation
As of 12/31/2019
| International Equities | 15.41% | |
| Small Capitalization | 0.22% | |
| Mid Capitalization | 1.24% | |
| Large Capitalization | 23.17% | |
| Long Term Fixed Income | 19.00% | |
| Intermediate Term Fixed Income | 29.99% | |
| Short Term Fixed Income | 8.67% | |
| Cash | 2.30% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
December Fund Holdings
As of 12/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 40,000 | $42,200.00 | |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 2,350,000 | $2,581,197.91 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 1,276 | $112,977.04 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 1,195 | $30,986.35 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 65,000 | $62,725.00 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 43,180 | $2,565,755.60 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 2,430,000 | $2,613,017.30 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 65,000 | $65,000.00 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 750 | $52,627.50 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 535,000 | $554,873.97 | |
| 013093AD1 | ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 | US | 40,000 | $41,400.00 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 275 | $44,434.50 |
| 01609W102 | ALIBABA GROUP - ADR | CN | BABA | 8,550 | $1,813,455.00 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 1,800,000 | $1,875,441.92 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 310 | $34,859.50 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 1,720 | $2,299,674.40 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 1,730 | $2,317,144.70 |
| 023135106 | AMAZON.COM INC | US | AMZN | 1,605 | $2,965,783.20 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 186,776 | $870,376.16 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 42,533 | $1,792,211.85 |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 1,970 | $92,649.10 |
| 0263494 | BAE SYSTEMS PLC | GB | BA/ LN | 36,430 | $272,764.84 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 5,910 | $154,901.10 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 100,000 | $102,473.46 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 6,660 | $1,530,601.20 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 2,260,000 | $2,416,232.87 | |
| 03063NAA5 | AMERICOLD LLC TRUST 3.84730 01/14/2029 | US | 55,494 | $55,869.06 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 3,995 | $140,064.70 |
| 031162100 | AMGEN INC | US | AMGN | 571 | $137,650.97 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 40,000 | $35,175.00 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 40,000 | $34,800.00 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 3,216 | $166,106.40 |
| 038222105 | APPLIED MATERIALS INC | US | AMAT | 812 | $49,564.48 |
| 039483102 | ARCHER-DANIELS-MIDLAND CO | US | ADM | 593 | $27,485.55 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 30,000 | $30,675.00 | |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 1,130 | $236,961.00 |
| 05722G100 | BAKER HUGHES CO | US | BKR | 1,079 | $27,654.77 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 4,285 | $150,917.70 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 3,530,000 | $3,765,439.53 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 17,240 | $3,904,860.00 |
| 086516101 | BEST BUY INC | US | BBY | 439 | $38,544.20 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 22,620 | $1,912,521.00 |
| 09247X101 | BLACKROCK INC | US | BLK | 1,510 | $759,077.00 |
| 0946580 | WEIR GROUP PLC/THE | GB | WEIR LN | 12,615 | $252,301.45 |
| 097023105 | BOEING CO | US | BA | 381 | $124,114.56 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 785 | $1,612,178.05 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 979 | $134,964.94 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 9,585 | $150,963.75 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 1,441 | $92,497.79 |
| 110448107 | BRITISH AMERICAN TOB-SP ADR | GB | BTI | 3,285 | $139,481.10 |
| 11135F101 | BROADCOM INC | US | AVGO | 292 | $92,277.84 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 40,000 | $26,000.00 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 12,110 | $1,453,200.00 |
| 12541W209 | C.H. ROBINSON WORLDWIDE INC | US | CHRW | 282 | $22,052.40 |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 468,659.34 | $475,649.02 | |
| 12572Q105 | CME GROUP INC | US | CME | 7,080 | $1,421,097.60 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 848,177.76 | $832,509.54 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 1,192 | $88,553.68 |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 60,000 | $65,250.00 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 1,445 | $153,314.50 |
| 13321L108 | CAMECO CORP | CA | CCJ | 18,784 | $167,177.60 |
| 149123101 | CATERPILLAR INC | US | CAT | 503 | $74,283.04 |
| 149806AA9 | CAZ 2015-1A A 2.00000 12/10/2023 | US | 1,253.96 | $1,251.54 | |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 743,184.35 | $747,419.46 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 40,000 | $40,250.00 | |
| 165183AL8 | CFII 2017-2A A1 1.99000 05/15/2029 | US | 2,097,277 | $2,095,551.78 | |
| 166764100 | CHEVRON CORP | US | CVX | 1,004 | $120,992.04 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 2,993 | $143,544.28 |
| 172967424 | CITIGROUP INC | US | C | 1,248 | $99,702.72 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 1,080,000 | $1,803,013.16 | |
| 191216100 | COCA COLA CO/THE | US | KO | 56,480 | $3,126,168.00 |
| 192422103 | COGNEX CORP | US | CGNX | 14,020 | $785,680.80 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 895 | $61,611.80 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 1,760,000 | $1,787,929.53 | |
| 20268CAA6 | CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 | US | 1,731,006.61 | $1,714,882.11 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 2,150 | $92,149.00 |
| 20451NAG6 | COMPASS MINERALS INTERNA 6.75000 12/01/2027 | US | 80,000 | $85,000.00 | |
| 205887102 | CONAGRA BRAND INC. | US | CAG | 669 | $22,906.56 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 5,687 | $234,304.40 |
| 225310AN1 | CREDIT ACCEPTANC 5.12500 12/31/2024 | US | 40,000 | $41,538.40 | |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 2,620,000 | $2,622,457.40 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 825 | $117,273.75 |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 581,056.13 | $562,805.51 | |
| 231021106 | CUMMINS INC | US | CMI | 226 | $40,444.96 |
| 2347608 | FIRST QUANTUM MINERALS LTD | CA | FM CN | 6,220 | $63,083.75 |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 60,000 | $58,350.00 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 960 | $114,950.40 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 2,160,000 | $2,517,906.62 | |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 75,000 | $76,687.50 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 2,545 | $111,725.50 |
| 260557103 | DOW INC | US | DOW | 680 | $37,216.40 |
| 262006208 | DREYFUS GVT CSH MANAGEMENT | US | 9,191,019.55 | $9,191,019.55 | |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 37,675 | $961,495.13 |
| 277432100 | EASTMAN CHEM CO | US | EMN | 269 | $21,320.94 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 50,010 | $1,014,796.12 |
| 285512109 | ELECTRONIC ARTS | US | EA | 20,980 | $2,255,559.80 |
| 2866857 | LUNDIN MINING CORP | CA | LUN CN | 10,575 | $63,195.10 |
| 291011104 | EMERSON ELEC CO | US | EMR | 744 | $56,737.44 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 1,620,000 | $1,926,996.29 | |
| 29413XAD9 | ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 | US | 60,000 | $64,237.80 | |
| 29444U700 | EQUINIX INC | US | EQIX | 4,220 | $2,463,214.00 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 1,015 | $71,445.85 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 1,565 | $126,639.80 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 3,600 | $89,316.00 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 355 | $106,805.30 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 3,700,000 | $3,721,416.04 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 385 | $40,663.70 |
| 30261UAJ3 | FREMF 2013-K713 B 3.16852 04/25/2046 | US | 1,350,000 | $1,348,909.34 | |
| 30291HAA5 | FREMF 2013-K28 X2A 0.10000 06/25/2046 | US | 123,453,322.19 | $306,324.73 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 30,260 | $6,210,865.00 |
| 30744W107 | FARFETCH LTD - CLASS A | GB | FTCH | 6,575 | $68,051.25 |
| 311900104 | FASTENAL CO | US | FAST | 865 | $31,961.75 |
| 3128M5NM8 | FHLM POOL G03696 5.50000 01/01/2038 | US | 1,137.74 | $1,277.57 | |
| 3128M5RA0 | FHLM POOL G03781 6.00000 01/01/2038 | US | 165,955.4 | $190,098.89 | |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 167,805.87 | $192,249.24 | |
| 3128M6SU3 | FHLM POOL G04731 5.50000 04/01/2038 | US | 175,248.7 | $196,833.01 | |
| 3128M73H7 | FHLM POOL G05900 6.00000 03/01/2040 | US | 91,850.4 | $105,099.58 | |
| 3128M73P9 | FHLM POOL G05906 6.00000 04/01/2040 | US | 121,122.98 | $135,459.39 | |
| 3128MB4Q7 | FHLM POOL G13331 5.50000 10/01/2023 | US | 7,530.83 | $7,792.45 | |
| 3128MBDP9 | FHLM POOL G12610 6.00000 03/01/2022 | US | 14,739.07 | $15,055.18 | |
| 3128MBE45 | FHLM POOL G12655 6.00000 05/01/2022 | US | 10,254.13 | $10,517.78 | |
| 3128MBRH2 | FHLM POOL G12988 6.00000 01/01/2023 | US | 9,230.49 | $9,551.63 | |
| 3128MBUB1 | FHLM POOL G13078 6.00000 03/01/2023 | US | 15,324.15 | $15,811.81 | |
| 3128MJJT8 | FHLM POOL G08273 5.50000 06/01/2038 | US | 222,024.26 | $249,378.79 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 611,561.6 | $658,408.64 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 1,268,610.2 | $1,374,238.50 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 1,190,659.37 | $1,218,092.79 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 691,450.21 | $729,169.30 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 589,398.79 | $623,631.94 | |
| 31336WBS7 | FHLM POOL G11850 5.50000 07/01/2020 | US | 669.56 | $670.45 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 1,302,651.24 | $1,335,981.06 | |
| 3136AY6W8 | FNA 2017-M15 A1 2.95932 09/25/2027 | US | 1,244,003.38 | $1,287,915.95 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 1,155,365 | $1,200,068.15 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 270 | $34,757.10 |
| 3137A2B34 | FHMS K009 X1 FLT 1.25990 08/25/2020 | US | 12,322,778.34 | $61,680.43 | |
| 3137ADTK3 | FHMS K014 X1 FLT 1.14922 04/25/2021 | US | 7,690,784.4 | $90,259.81 | |
| 3137AJMG6 | FMHS K016 X1 FLT 1.47780 10/25/2021 | US | 4,942,376.65 | $110,725.55 | |
| 3137AME78 | FHMS K017 X1 FLT 1.29117 12/25/2021 | US | 7,463,096.15 | $145,116.92 | |
| 3137AUPF0 | FHMS K021 x1 FLT 1.42508 06/25/2022 | US | 9,586,680.78 | $287,231.34 | |
| 3137B3NB0 | FHMS K030 X1 FLT 0.18323 04/25/2023 | US | 49,583,409.37 | $269,912.25 | |
| 3137B4GZ3 | FHMS K032 X1 FLT 0.09665 05/25/2023 | US | 37,406,646.1 | $137,970.67 | |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 1,162,971.1 | $1,186,152.14 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 952,537.5 | $973,215.76 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 571,676.24 | $655,579.32 | |
| 3138EHXZ0 | FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 | US | 480,909.01 | $551,458.22 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 1,011,613.36 | $1,052,074.50 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64200 01/01/2049 | US | 1,477,159.95 | $1,649,606.84 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 2,021,657.77 | $2,133,069.65 | |
| 3138Y6Y81 | FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 | US | 732,577.47 | $780,249.82 | |
| 31403DDX4 | FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 | US | 397,878.08 | $447,735.60 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 554,860.6 | $584,178.02 | |
| 3140EX2Y8 | FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 | US | 1,930,988.77 | $2,015,923.79 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 335,207.85 | $354,371.87 | |
| 3140HPUY1 | FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 | US | 467,587.1 | $492,780.90 | |
| 3140J9SN2 | FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 | US | 1,960,184.67 | $1,998,083.51 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 1,262,546.37 | $1,330,148.56 | |
| 3140Q9D42 | FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 | US | 1,608,064.3 | $1,723,781.04 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 1,575,770.51 | $1,664,740.25 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 891,386.41 | $955,512.15 | |
| 3140Q9T78 | FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 | US | 1,447,055.33 | $1,551,122.77 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 1,554,052.44 | $1,611,064.38 | |
| 31410FSE6 | FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 | US | 9,984.68 | $10,173.67 | |
| 31410FV51 | FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 | US | 11,410.07 | $11,652.08 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 57,309.77 | $58,003.06 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 70,161.77 | $70,979.91 | |
| 31410KJV7 | FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 | US | 347,426.54 | $398,414.07 | |
| 31416BRR1 | FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 | US | 759,498.55 | $870,391.62 | |
| 31416BSW9 | FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 | US | 1,582.82 | $1,595.75 | |
| 31416BVW5 | FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 | US | 45,976.75 | $46,524.40 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 676,479.39 | $734,124.06 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 484,129.44 | $520,927.43 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 477,778 | $514,099.30 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 1,484,067.71 | $1,543,715.86 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 1,448,322.94 | $1,481,939.91 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 1,467,816 | $1,528,565.15 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 1,915,228.56 | $1,999,385.66 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 938,446.4 | $975,173.27 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 1,974,657.65 | $2,029,755.10 | |
| 31418MG63 | FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 37,828.93 | $43,361.99 | |
| 31418MGR7 | FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 | US | 113,478.85 | $130,064.08 | |
| 31418MQQ8 | FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 13,985.53 | $14,616.04 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 40,000 | $42,600.00 | |
| 316773100 | FIFTH THIRD BANCORP | US | FITB | 1,017 | $31,262.58 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 1,810 | $75,133.10 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 60,000 | $60,438.60 | |
| 34461LAA2 | FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 | US | 1,210,000 | $1,238,590.12 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 35,000 | $38,062.50 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 80,000 | $84,440.00 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 60,000 | $62,475.00 | |
| 35563BAJ9 | FREMF 2014-K37 B FLT 4.55921 01/25/2047 | US | 1,657,000 | $1,785,048.82 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 155,000 | $163,137.50 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 589,000 | $589,094.53 | |
| 36248EAA3 | GSMS 2010-C2 3.84900 12/10/2043 | US | 28,611.02 | $28,766.78 | |
| 364760108 | GAP INC | US | GPS | 726 | $12,835.68 |
| 369550108 | GENERAL DYNAMICS CORP | US | GD | 230 | $40,560.50 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 1,910,000 | $1,870,768.60 | |
| 370334104 | GENERAL MLS INC | US | GIS | 829 | $44,401.24 |
| 372460105 | GENUINE PARTS CO | US | GPC | 274 | $29,107.02 |
| 374297109 | GETTY REALTY CORP | US | GTY | 1,520 | $49,962.40 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 1,294 | $84,084.12 |
| 37953TAB1 | GLOBAL SHIP LEASE INC 9.87500 11/15/2022 | MH | 130,000 | $135,525.00 | |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 85,000 | $88,693.25 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 1,492,376.09 | $1,492,724.11 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 89,150 | $1,484,347.50 |
| 400506101 | GRUPO AEROPORTUARIO PAC-ADR | MX | PAC | 1,085 | $128,691.85 |
| 40051E202 | GRUPO AEROPORTUARIO DEL SURESTE | MX | ASR | 700 | $131,173.00 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 1,810,000 | $1,920,553.32 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 20,000 | $18,600.00 | |
| 406216101 | HALLIBURTON CO | US | HAL | 78,330 | $1,916,735.10 |
| 416515104 | HARTFORD FINL SVCS | US | HIG | 404 | $24,551.08 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 3,185 | $106,283.45 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,965 | $59,500.20 |
| 42250P103 | HEALTHPEAK PROPERTIES INC | US | PEAK | 5,035 | $173,556.45 |
| 427866108 | HERSHEY CO/THE | US | HSY | 285 | $41,889.30 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 455 | $50,464.05 |
| 437076102 | HOME DEPOT INC | US | HD | 779 | $170,118.02 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 587 | $103,899.00 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 3,720 | $69,006.00 |
| 45031UCG4 | ISTAR INC 4.25000 08/01/2025 | US | 40,000 | $40,438.40 | |
| 450913AE8 | IAMGOLD CORP 7.00000 04/15/2025 | CA | 65,000 | $67,720.90 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 333 | $59,816.79 |
| 45337C102 | INCYTE CORP | US | INCY | 10,820 | $944,802.40 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 5,145 | $72,441.60 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 60,000 | $61,846.80 | |
| 458140100 | INTEL CORP | US | INTC | 3,248 | $194,392.80 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 16,280 | $1,506,714.00 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 783 | $104,953.32 |
| 460146103 | INTERNATIONAL PAPER CO | US | IP | 466 | $21,459.30 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.58738 12/17/2036 | US | 503,721.66 | $501,806.46 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 2.88738 12/17/2036 | US | 400,000 | $399,428.60 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 8,374 | $250,968.78 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 1,676 | $233,634.40 |
| 46639GAL0 | JPMMT 2013-1 1A2 3.00000 03/25/2043 | US | 488,574.57 | $492,269.66 | |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 480,252.59 | $490,359.03 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 605,768.68 | $611,667.84 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 1,730,000 | $1,844,996.92 | |
| 46647SAJ9 | JPMMT 2017-3 1A5 3.50000 08/25/2047 | US | 1,020,015.51 | $1,030,932.74 | |
| 46649HAE2 | JPMMT 2017-6 A5 3.50000 12/25/2048 | US | 1,141,188.03 | $1,155,570.42 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 27,150 | $3,200,829.50 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 6,720 | $128,620.80 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 32,445 | $4,732,752.15 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 80,000 | $23,600.00 | |
| 4821100 | SOLVAY SA | BE | SOLB BB | 2,995 | $348,598.34 |
| 482480100 | KLA-TENCOR CORPORATION | US | KLAC | 248 | $44,186.16 |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 60,000 | $62,850.00 | |
| 487836108 | KELLOGG CO | US | K | 464 | $32,090.24 |
| 493267108 | KEYCORP | US | KEY | 1,381 | $27,951.44 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 450 | $37,755.00 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 411 | $56,533.05 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 1,910,000 | $2,530,516.77 | |
| 500255104 | KOHLS CORP | US | KSS | 307 | $15,641.65 |
| 50050N103 | KONTOOR BRANDS INC | US | KTB | 40 | $1,679.60 |
| 501044101 | KROGER CO | US | KR | 861 | $24,960.39 |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 80,000 | $83,800.00 | |
| 5107401 | BEIERSDORF AG | DE | BEI GR | 1,540 | $184,229.95 |
| 512807108 | LAM RESEARCH CORP | US | LRCX | 142 | $41,520.80 |
| 516806AD8 | LAREDO PETROLEUM INC 5.62500 01/15/2022 | US | 40,000 | $38,800.00 | |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 910 | $54,645.50 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 355 | $38,439.40 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 245 | $95,398.10 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 40,000 | $27,300.00 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 14,625 | $3,388,173.75 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 876 | $52,779.00 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 16,840 | $5,028,255.60 |
| 57772K101 | MAXIM INTEGRATED PRODUCTS | US | MXIM | 411 | $25,280.61 |
| 58933Y105 | MERCK & CO INC | US | MRK | 12,540 | $1,140,513.00 |
| 594918104 | MICROSOFT CORP | US | MSFT | 19,240 | $3,034,148.00 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 82,070 | $4,413,724.60 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 555 | $73,182.30 |
| 60871R209 | MOLSON COORS BREWING CO -B | US | TAP | 330 | $17,787.00 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 57,701 | $3,178,171.08 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 6,340 | $1,505,179.40 |
| 61965RAA3 | MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 | US | 40,000 | $30,400.00 | |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 15,000 | $12,525.00 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 80,000 | $77,200.00 | |
| 6356934 | FANUC LTD | JP | 6954 JP | 400 | $73,865.97 |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 1,205 | $64,612.10 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 1,220 | $41,016.40 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 60,000 | $60,882.00 | |
| 63938EAC8 | NAVSL 2014-1 A3 2.30200 06/25/2031 | US | 1,218,415.95 | $1,195,049.78 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 772,094.76 | $775,532.74 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.79200 02/27/2068 | US | 2,590,000 | $2,583,269.89 | |
| 64110D104 | NETAPP INC | US | NTAP | 289 | $17,990.25 |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 471,102.69 | $485,964.28 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 624,349.46 | $644,681.96 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 666,682.91 | $688,530.44 | |
| 6490995 | KEYENCE CORP | JP | 6861 JP | 500 | $175,569.29 |
| 6514442 | METROPOLITAN BANK & TRUST | PH | MBT PM | 3,589 | $4,698.40 |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 80,000 | $60,000.00 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 55,295 | $5,235,883.55 |
| 670346105 | NUCOR CORP | US | NUE | 514 | $28,927.92 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 40,000 | $41,500.00 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 13,035 | $3,067,135.50 |
| 67087MAA4 | OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 | US | 115,000 | $114,903.30 | |
| 6742340 | SHANDONG WEIGAO | CN | 1066 HK | 156,000 | $186,926.85 |
| 674599105 | OCCIDENTAL PETROLEUM CORP | US | OXY | 734 | $30,248.14 |
| 675232AB8 | OCEANEERING INTL INC 6.00000 02/01/2028 | US | 60,000 | $58,800.00 | |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 40,000 | $42,248.00 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 1,785 | $75,594.75 |
| 6821506 | SONY CORP FIRST SECTION | JP | 6758 JP | 3,700 | $251,221.55 |
| 7021963 | DEUTSCHE BOERSE AG | DE | DB1 GR | 1,830 | $286,968.41 |
| 70450Y103 | PAYPAL HOLDINGS INC | US | PYPL | 14,085 | $1,523,574.45 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 33,694 | $3,647,890.07 |
| 713448108 | PEPSICO INC | US | PEP | 21,420 | $2,927,471.40 |
| 717081103 | PFIZER INC | US | PFE | 4,114 | $161,186.52 |
| 718546104 | PHILLIPS 66 | US | PSX | 408 | $45,455.28 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 60,000 | $55,800.00 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 6,530 | $123,678.20 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 2,351 | $43,234.89 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 3,600,000 | $3,843,228.10 | |
| 74166MAB2 | PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 | US | 40,000 | $42,320.00 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 40,000 | $43,475.20 | |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 1,285,000 | $1,301,739.57 | |
| 74340W103 | PROLOGIS | US | PLD | 4,325 | $385,530.50 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 610 | $129,905.60 |
| 74834L100 | QUEST DIAGNOSTICS INC | US | DGX | 204 | $21,785.16 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 60,000 | $63,150.00 | |
| 756109104 | REALTY INCOME CORP | US | O | 575 | $42,337.25 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,228 | $21,072.48 |
| 76131D103 | RESTAURANT BRANDS INTERN | CA | QSR | 4,335 | $276,442.95 |
| 7698356 | GETINGE AB-B SHS | SE | GETIB SS | 8,700 | $161,795.42 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 60,000 | $60,635.86 | |
| 773903109 | ROCKWELL AUTOMATION INC | US | ROK | 119 | $24,117.73 |
| 783513203 | RYANAIR HOLDINGS - ADR | IE | RYAAY | 19,914 | $1,744,665.54 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 5,630 | $1,537,271.50 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 6,180 | $1,489,318.20 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 80,000 | $82,800.00 | |
| 78490DAA2 | SOFI 2018-C A1FX 3.08000 01/25/2048 | US | 969,229.52 | $973,327.71 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 2,690,000 | $3,092,219.64 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 2,320,000 | $2,504,545.65 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 59,708 | $2,400,261.60 |
| 81141R100 | SEA LTD - ADR | SG | SE | 4,895 | $196,876.90 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 7,990 | $912,937.40 |
| 81745CAB9 | SEMT 2013-7 A2 3.00000 06/25/2043 | US | 615,446.38 | $616,589.51 | |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 709,408.37 | $714,489.86 | |
| 81745MAA9 | SEMT 2013-2 1.87400 02/25/2043 | US | 924,391.95 | $882,067.56 | |
| 81762P102 | SERVICENOW INC | US | NOW | 11,170 | $3,153,514.40 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 40,000 | $38,100.00 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 1,655 | $246,528.80 |
| 832696405 | JM SMUCKER CO/THE-NEW COM WI | US | SJM | 199 | $20,721.87 |
| 83401BAA4 | SOFI 2017-F A1FX 2.05000 01/25/2041 | US | 84,737.93 | $84,677.11 | |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 300,000 | $302,361.66 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 746,182.03 | $751,007.22 | |
| 83406EAB1 | SOFI 2018-A A2A 2.39000 02/25/2042 | US | 298,811.1 | $299,404.75 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 44,610 | $3,033,480.00 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 2,270,000 | $2,288,155.80 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 90,000 | $91,912.50 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 40,000 | $42,300.00 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 35,000 | $37,756.25 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 2,670 | $84,291.90 |
| 85571BAP0 | STARWOOD PROPERTY TRUST 3.62500 02/01/2021 | US | 60,000 | $60,375.00 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.20975 11/15/2027 | US | 1,568,653.34 | $1,563,841.34 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 1,590 | $59,211.60 |
| 866674104 | SUN COMMUNITIES | US | SUI | 1,030 | $154,603.00 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 40,000 | $38,466.80 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 3,115 | $43,360.80 |
| 871829107 | SYSCO CORP | US | SYY | 646 | $55,258.84 |
| 87677QAA9 | TXEZ 2016-1A 3.13100 06/15/2028 | US | 218,652.32 | $218,528.69 | |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 50,000 | $42,500.00 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 1,690,000 | $1,825,127.62 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 830 | $106,480.70 |
| 88579Y101 | 3M CO | US | MMM | 564 | $99,500.88 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 1,079,061.38 | $1,079,129.04 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 865,406.42 | $871,311.43 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.79200 10/25/2048 | US | 784,391.52 | $786,092.55 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 40,000 | $40,600.00 | |
| 89417E109 | TRAVELLERS COS INC | US | TRV | 237 | $32,457.15 |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 1,153,066.64 | $1,150,928.39 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 1,246,463.89 | $1,255,400.04 | |
| 89832Q109 | TRUIST FINANCIAL CORP | US | TFC | 1,350 | $76,032.00 |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 100,000 | $96,500.00 | |
| 902494103 | TYSON FOODS INC -CL A | US | TSN | 339 | $30,862.56 |
| 902653104 | UDR INC | US | UDR | 2,656 | $124,035.20 |
| 902973304 | U.S. BANCORP | US | USB | 1,488 | $88,223.52 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 2,515 | $39,560.95 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 48,564 | $2,776,403.88 |
| 907818108 | UNION PAC CORP | US | UNP | 598 | $108,112.42 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 867 | $101,491.02 |
| 912810FS2 | TSY INFL IX N/B 2.00000 01/15/2026 | US | 8,012,988 | $8,906,808.53 | |
| 912810PT9 | UNITED STATES TREAS BOND 4.75000 02/15/2037 | US | 5,409,000 | $7,452,376.54 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 2,251,946.97 | $2,338,824.27 | |
| 912810RK6 | US TREASURY N/B 2.50000 02/15/2045 | US | 7,418,000 | $7,586,643.63 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 6,720,000 | $7,568,662.48 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 7,805,000 | $7,912,318.75 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 5,984,470.05 | $6,081,219.48 | |
| 912828D56 | US TREASURY N/B 2.37500 08/15/2024 | US | 10,720,000 | $11,048,300.00 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 12,327,464.78 | $12,312,536.96 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 3,987,000 | $3,946,662.76 | |
| 912828VB3 | UNITED STATES TREAS NTS 1.75000 05/15/2023 | US | 3,955,000 | $3,970,294.74 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 3,965,000 | $4,046,778.13 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 710 | $106,329.60 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 4,670 | $89,570.60 |
| 918204108 | VF CORP | US | VFC | 500 | $49,830.00 |
| 91913Y100 | VALERO ENERGY | US | VLO | 515 | $48,229.75 |
| 92276F100 | VENTAS INC | US | VTR | 1,398 | $80,720.52 |
| 92339V100 | VEREIT INC | US | VER | 12,555 | $116,008.20 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 2,830,000 | $3,554,279.72 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 4,460 | $976,517.00 |
| 92556H206 | VIACOMCBS INC | US | VIAC | 398 | $16,704.06 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 23,390 | $4,394,981.00 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 60,000 | $57,000.00 | |
| 92903PAC3 | VNO 2010 - VNO A2FX 4.00350 09/13/2028 | US | 350,000 | $351,266.93 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 410 | $27,265.00 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 40,000 | $38,150.00 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.78975 12/15/2033 | US | 965,000 | $963,827.14 | |
| 931142103 | WAL MART STORES | US | WMT | 1,812 | $215,338.08 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 896 | $52,828.16 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 495 | $56,410.20 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 70,000 | $72,625.00 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 3,000 | $93,720.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 3,233 | $173,935.40 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 1,784 | $145,895.52 |
| 958102105 | WESTERN DIGITAL CORP | US | WDC | 458 | $29,069.26 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 1,840,000 | $1,919,230.05 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 393,700.35 | $393,919.40 | |
| 97652TAA1 | WIN 2015-1 A1 3.50000 01/20/2045 | US | 625,523.78 | $637,936.67 | |
| 98311A105 | WYNDHAM HOTELS & RESORTS INC | US | WH | 810 | $50,876.10 |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 85,000 | $78,200.00 | |
| B02J639 | ADMIRAL GROUP PLC | GB | ADM LN | 10,060 | $307,419.27 |
| B1KFX13 | GRUPO AEROPORTUARIO DEL CENT | MX | OMAB MM | 17,500 | $131,022.08 |
| B1XH026 | VINCI SA | FR | DG FP | 1,095 | $121,954.66 |
| B1Y47Y7 | GERRESHEIMER AG | DE | GXI GR | 2,255 | $174,407.04 |
| B1Y9TB3 | DANONE | FR | BN FP | 3,641 | $302,371.67 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 3,460,000 | $182,286.14 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 433,000 | $341,778.40 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 5,621,000 | $295,559.21 | |
| B4R2R50 | JULIUS BAER | CH | BAER SW | 3,155 | $162,649.47 |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 8,562,000 | $455,227.15 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 355,100 | $4,710,504.27 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 1,081,000 | $60,989.38 | |
| B7KR2P8 | EASY JET PLC | GB | EZJ LN | 97,375 | $1,834,250.71 |
| BBG00R1HNZB6 | NVDA US 01/24/20 P215 | US | -45 | -$6,840.00 | |
| BBG00R1LGYF4 | SLB US 01/24/20 P36 | NL | -270 | -$5,670.00 | |
| BBQ3850 | KEYWORDS STUDIOS PLC | IE | KWS LN | 3,767 | $74,916.81 |
| BD3HF92 | BSR REAL ESTATE INVESTMENT | CA | HOM/U CN | 1,425 | $16,515.75 |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 37,110 | $58,693.33 |
| BGHVXC0 | DRILLING CO OF 1972/THE | DK | DRLCO DC | 2,055 | $135,689.90 |
| BJ2KSG2 | AKZO NOBEL | NL | AKZA NA | 1,878 | $191,789.62 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 69,828 | $3,364,044.73 |
| BMTRW10 | B&M EUROPEAN VALUE RETAIL SA | GB | BME LN | 37,350 | $202,670.18 |
| BNGN9Z1 | FINECOBANK SPA | IT | FBK IM | 19,835 | $237,938.03 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 81,855 | $2,892,809.96 |
| BVYVFW2 | AUTO TRADER GROUP PLC | GB | AUTO LN | 8,055 | $63,611.97 |
| BYXS699 | QIAGEN N.V. | NL | QIA GR | 6,172 | $210,301.43 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 38,190 | $3,127,790.52 |
| G0772R208 | BANK OF N.T. BUTTERFIELD&SON | BM | NTB | 5,290 | $195,835.80 |
| G29183103 | EATON CORP PLC | US | ETN | 544 | $51,527.68 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,035 | $42,134.85 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 47,376 | $5,374,807.20 |
| G97822103 | PERRIGO CO PLC | IE | PRGO | 3,635 | $187,784.10 |
| H01301128 | ALCON INC | CH | ALC | 29,150 | $1,649,015.50 |
| H1467J104 | CHUBB LTD | CH | CB | 340 | $52,924.40 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 91,500 | $629,520.00 |
| N22717107 | CORE LABORATORIES N.V. | NL | CLB | 3,515 | $132,410.05 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 2,640 | $221,258.40 |
| N53745100 | LYONDELLBASELL INDU-CL A | US | LYB | 502 | $47,428.96 |
| N72482123 | QIAGEN N.V. ADR | NL | QGEN | 3,661 | $123,741.80 |
Investments will change over time.
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.
Subscribe to receive email updates when new insights are available
Subscribe
© Manning & Napier | Privacy Policy | Legal Disclaimer | Business Continuity | Whistleblower Policy