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

$14.38

Daily $ Change

$0.07

Daily % Change

0.49%

as of 07/02/2020

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 05/31/2020

YTD

3.49%

1 Year

12.30%

3 Year

6.62%

5 Year

4.90%

10 Year

6.32%

Inception
(09/15/1993)

6.62%

US Stock Market Cycle (04/01/2000 - 05/31/2020)

6.03%

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 0.74%
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 05/31/2020

TREASURY NOTES 13.96%
GOVERNMENT AGENCY 5.83%
TSY INFL IX N/B 2.00000 01/15/2026 2.43%
TREASURY BONDS 2.04%
MASTERCARD INC-CLASS A 1.85%
TSY INFL IX N/B 0.50000 04/15/2024 1.65%
VISA INC - CLASS A SHARES 1.58%
NEXON CO LTD 1.26%
JOHNSON & JOHNSON 1.22%
NOVARTIS AG- REG 1.19%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2020

Bonds 57.49%
Stocks 41.14%
Cash 1.37%

Detailed Asset Class Allocation

As of 05/31/2020

International Equities 11.96%
Small Capitalization 0.10%
Mid Capitalization 2.16%
Large Capitalization 26.92%
Long Term Fixed Income 16.36%
Intermediate Term Fixed Income 36.94%
Short Term Fixed Income 4.19%
Cash 1.37%

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

May Fund Holdings

As of 05/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 40,000 $41,365.20
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 840,000 $942,806.88
00287Y109 ABBVIE INC US ABBV 1,182 $109,535.94
004239109 ACADIA REALTY TRUST US AKR 4,055 $47,565.15
00507V109 ACTIVISION INC US ATVI 30,175 $2,171,996.50
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,231,124.26
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 45,000 $40,500.00
008492100 AGREE REALTY CORP US ADC 1,155 $72,499.35
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 535,000 $469,497.95
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 80,000 $73,211.43
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 105,000 $102,413.85
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 585 $89,926.20
01609W102 ALIBABA GROUP - ADR CN BABA 7,970 $1,652,898.30
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,000,000 $3,328,926.33
020002101 ALLSTATE CORPORATION US ALL 347 $33,940.07
02079K107 ALPHABET INC-CL C US GOOG 540 $771,616.80
02079K305 ALPHABET INC-CL A US GOOGL 3,020 $4,329,230.40
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 75,000 $78,965.25
023135106 AMAZON.COM INC US AMZN 1,685 $4,115,393.45
02319V103 AMBEV SA-ADR BR ABEV 35,776 $82,642.56
0237400 DIAGEO PLC GB DGE LN 43,093 $1,503,503.92
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,772 $121,835.60
02665T306 AMERICAN HOMES 4 RENT- A US AMH 5,345 $134,907.80
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 120,000 $119,727.32
03027X100 AMERICAN TOWER REIT INC US AMT 7,150 $1,845,915.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,260,000 $2,533,392.18
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 34,500.66 $34,597.69
03064D108 AMERICOLD REALTY TRUST US COLD 4,910 $175,336.10
032654105 ANALOG DEVICES INC US ADI 326 $36,821.70
03674XAJ5 ANTERO RESOURCES CORP 5.00000 03/01/2025 US 70,000 $39,200.00
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 130,000 $102,375.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 120,000 $93,816.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 2,731 $100,691.97
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 705 $27,713.55
053015103 AUTOMATIC DATA PROCESSING US ADP 312 $45,704.88
053484101 AVALONBAY COMMUNITIES INC US AVB 1,275 $198,912.75
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,150,000 $884,284.13
055622104 BP PLC-SPONS ADR GB BP 1,670 $38,643.80
05722G100 BAKER HUGHES CO US BKR 1,461 $24,121.11
060505104 BANK OF AMERICA CORP US BAC 5,173 $124,772.76
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,300,000 $1,419,911.16
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 14,085 $2,613,894.30
086516101 BEST BUY INC US BBY 392 $30,611.28
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 18,360 $1,956,258.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 10,240 $123,603.21
09857L108 BOOKING HOLDINGS INC US BKNG 920 $1,508,266.40
101121101 BOSTON PROPERTIES INC US BXP 434 $37,315.32
105368203 BRANDYWINE REALTY TRUST US BDN 7,080 $68,322.00
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,742 $104,032.24
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 380,000 $3,800.00
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 70,000 $72,625.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 20,410 $2,172,848.60
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 264 $21,418.32
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 379,679.1 $388,197.01
12572Q105 CME GROUP INC US CME 7,080 $1,292,808.00
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 800,161.7 $826,374.84
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 737,248.66 $749,702.19
12653CAC2 CNX RESOURCES CORP 7.25000 03/14/2027 US 40,000 $37,800.00
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 35,000 $31,587.50
127097103 CABOT OIL & GAS CORP US COG 163,040 $3,234,713.60
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 60,000 $54,600.00
133131102 CAMDEN PROPERTY TRUST US CPT 1,990 $182,224.30
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,000,000 $2,095,047.98
13321L108 CAMECO CORP CA CCJ 20,989 $228,150.43
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 105,000 $104,883.45
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 70,000 $73,150.00
149123101 CATERPILLAR INC US CAT 540 $64,870.20
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 642,093.21 $635,763.71
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,025 $1,101,600.00
16411QAD3 CHENIERE ENERGY PARTNERS 5.62500 10/01/2026 US 115,000 $117,047.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 1,256,152.32 $1,260,151.41
166764100 CHEVRON CORP US CVX 6,540 $599,718.00
172062101 CINCINNATI FINANCIAL CORP US CINF 193 $11,377.35
17275R102 CISCO SYSTEMS INC US CSCO 2,993 $143,125.26
172967424 CITIGROUP INC US C 1,554 $74,452.14
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,240,000 $2,493,926.44
191216100 COCA COLA CO/THE US KO 70,290 $3,281,137.20
194162103 COLGATE-PALMOLIVE CO US CL 955 $69,075.15
20030N101 COMCAST CORP-CL A US CMCSA 2,356 $93,297.60
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,080,000 $2,278,981.47
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,506,833.9 $1,554,745.49
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,080 $75,753.60
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 60,000 $63,088.20
205887102 CONAGRA BRAND INC. US CAG 749 $26,057.71
20605P101 CONCHO RESOURCES INC US CXO 14,795 $806,623.40
20825C104 CONOCOPHILLIPS US COP 27,119 $1,143,879.42
21036P108 CONSTELLATION BRANDS INC-A US STZ 172 $29,704.40
217204106 COPART INC US CPRT 18,980 $1,696,622.20
21870Q105 CORESITE REALTY CORP US COR 380 $47,431.60
222795502 COUSINS PROPERTIES INC US CUZ 5,337 $166,087.44
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,190,000 $1,180,780.71
22822V101 CROWN CASTLE INTL CORP US CCI 960 $165,273.60
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,270,000 $2,394,068.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 506,051.01 $511,886.64
231021106 CUMMINS INC US CMI 213 $36,124.80
247361ZN1 DELTA AIR LINES INC 4.37500 04/19/2028 US 100,000 $81,286.24
253868103 DIGITAL REALTY TRUST INC US DLR 1,904 $273,338.24
254687106 WALT DISNEY CO/THE US DIS 14,150 $1,659,795.00
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 895,000 $934,198.73
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 75,000 $80,305.79
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,160,000 $2,398,525.37
256746108 DOLLAR TREE STORES INC US DLTR 16,035 $1,569,345.45
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 1,330,000 $1,459,524.12
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 140,000 $137,200.00
25960P109 DOUGLAS EMMETT INC US DEI 3,730 $109,512.80
260003108 DOVER CORP US DOV 174 $16,921.50
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 200,000 $210,250.00
262006208 DREYFUS GVT CSH MANAGEMENT US 5,236,000.56 $5,236,000.56
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 35,000 $35,000.00
264411505 DUKE RLTY INVTS INC US DRE 3,659 $126,162.32
26875P101 EOG RESOURCES INC US EOG 33,031 $1,683,590.07
2715777 QUEBECOR INC -CL B CA QBR/B CN 8,960 $196,985.29
277276101 EASTGROUP PROPERTIES US EGP 300 $34,875.00
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 6,249 $105,432.16
285512109 ELECTRONIC ARTS US EA 18,570 $2,281,881.60
2866857 LUNDIN MINING CORP CA LUN CN 24,200 $111,434.07
291011104 EMERSON ELEC CO US EMR 791 $48,266.82
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,470,000 $1,661,332.29
29444U700 EQUINIX INC US EQIX 4,190 $2,923,069.70
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 2,820 $175,686.00
29476L107 EQUITY RESIDENTIAL US EQR 1,960 $118,697.60
297178105 ESSEX PROPERTY TRUST INC US ESS 385 $93,466.45
30212P303 EXPEDIA INC US EXPE 45,920 $3,649,721.60
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 1,035,000 $1,105,291.81
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 3,700,000 $3,731,763.76
30225T102 EXTRA SPACE STORAGE INC US EXR 500 $48,375.00
30231G102 EXXON MOBIL CORP US XOM 27,815 $1,264,748.05
302491303 FMC CORP US FMC 15,920 $1,566,687.20
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 25,000 $20,000.00
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 122,133,027.41 $257,236.58
30303M102 FACEBOOK INC -A US FB 12,670 $2,851,890.30
311900104 FASTENAL CO US FAST 861 $35,524.86
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,062.13 $1,236.25
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 156,449.86 $180,422.33
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 153,793.45 $178,012.28
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 162,899.3 $188,953.93
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 83,647.83 $96,716.65
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 100,816.72 $115,816.01
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,663.71 $5,904.14
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 10,334.53 $10,582.79
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 7,230.99 $7,444.50
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,903.29 $7,174.73
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,036.4 $11,440.75
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 206,732.12 $237,581.06
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 578,661.73 $637,673.02
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,186,390.24 $1,317,522.94
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 560,227.26 $605,168.31
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 515,091.23 $568,244.96
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 28.01 $27.99
3136AY6W8 FNA 2017-M15 A1 2.95933 09/25/2027 US 1,210,045.08 $1,315,478.49
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 869,246.12 $900,380.52
3137A2B34 FHMS K009 X1 FLT 1.21114 08/25/2020 US 5,568,619.98 $5,804.17
3137ADTK3 FHMS K014 X1 FLT 1.14928 04/25/2021 US 7,618,801.42 $53,587.60
3137AJMG6 FMHS K016 X1 FLT 1.47797 10/25/2021 US 4,894,970.88 $80,406.75
3137AME78 FHMS K017 X1 FLT 1.28598 12/25/2021 US 7,243,137.98 $104,286.70
3137AUPF0 FHMS K021 x1 FLT 1.41666 06/25/2022 US 9,480,254.81 $220,146.69
3137B3NB0 FHMS K030 X1 FLT 0.17807 04/25/2023 US 49,007,209.33 $224,859.78
3137B4GZ3 FHMS K032 X1 FLT 0.09354 05/25/2023 US 36,961,955.59 $117,782.97
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 897,242.04 $916,280.98
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 603,148.47 $613,997.06
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 537,398.51 $621,886.69
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 427,168.63 $490,971.86
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 US 1,371,824.24 $1,605,488.54
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 707,885.37 $778,737.72
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 368,990.66 $430,910.30
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 520,076.76 $573,905.54
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 250,762.16 $272,649.52
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 368,987.91 $398,725.96
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 987,059 $1,065,662.78
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 1,166,084.7 $1,274,328.70
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 1,252,147.74 $1,353,109.58
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 1,143,136.88 $1,247,961.26
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 6,304.9 $6,435.75
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 7,645.38 $7,818.67
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 31,218.27 $31,572.64
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 34,887.58 $35,309.17
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 323,854.57 $374,582.80
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 712,009.73 $823,512.14
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 493.59 $497.33
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 23,581.22 $23,891.80
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 597,494.57 $663,532.20
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 420,859.82 $462,924.68
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 408,872.5 $450,461.28
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,193,387.49 $1,264,149.39
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,496,300.01 $1,585,908.67
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 732,371.1 $778,565.59
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 995,457.55 $1,015,657.57
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 34,220.15 $39,598.60
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 104,066.03 $120,381.41
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 11,736.17 $12,438.10
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 140,000 $149,800.00
316773100 FIFTH THIRD BANCORP US FITB 987 $19,137.93
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,690 $64,017.20
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 60,000 $58,812.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,210,000 $1,163,914.37
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 200,000 $222,000.00
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 120,000 $114,000.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 130,000 $108,875.00
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 90,000 $82,350.00
35563BAJ9 FREMF 2014-K37 B FLT 4.55940 01/25/2047 US 1,657,000 $1,756,794.98
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 155,000 $141,307.30
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 589,000 $590,277.60
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 14,267.38 $14,292.94
36257MAA3 GSMS 2019-70P A 1.18363 10/15/2036 US 1,000,000 $964,915.50
369550108 GENERAL DYNAMICS CORP US GD 288 $42,287.04
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 1,910,000 $1,465,352.00
370334104 GENERAL MLS INC US GIS 849 $53,520.96
37045VAP5 GENERAL MOTORS CO 5.15000 04/01/2038 US 90,000 $87,085.10
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 55,000 $51,419.50
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BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 38,165 $1,780,975.15
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 84,215 $132,535.65
BZ1HM42 ADYEN NV NL ADYEN NA 90 $118,187.07
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 6,015 $146,946.45
G1151C101 ACCENTURE PLC - CL A IE ACN 1,347 $271,582.14
G29183103 EATON CORP PLC US ETN 508 $43,129.20
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,115 $35,022.15
G5494J103 LINDE PLC GB LIN 335 $67,783.90
G5960L103 MEDTRONIC INC IE MDT 17,746 $1,749,400.68
G85158106 STONECO LTD-A BR STNE 3,335 $105,652.80
G8994E103 TRANE TECHNOLOGIES IE TT 254 $22,913.34
G97822103 PERRIGO CO PLC IE PRGO 3,635 $199,088.95
H01301128 ALCON INC CH ALC 28,465 $1,808,666.10
H1467J104 CHUBB LTD CH CB 415 $50,605.10
H2906T109 GARMIN LTD CH GRMN 218 $19,657.06
N53745100 LYONDELLBASELL INDU-CL A US LYB 504 $32,135.04

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class W Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

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

Daily Price

$14.38

Daily $ Change

$0.07

Daily % Change

0.49%

as of 07/02/2020

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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Blend® Series

Performance

As of 05/31/2020

YTD

3.49%

1 Year

12.30%

3 Year

6.62%

5 Year

4.90%

10 Year

6.32%

Inception
(09/15/1993)

6.62%

US Stock Market Cycle (04/01/2000 - 05/31/2020)

6.03%

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 0.74%
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 05/31/2020

TREASURY NOTES 13.96%
GOVERNMENT AGENCY 5.83%
TSY INFL IX N/B 2.00000 01/15/2026 2.43%
TREASURY BONDS 2.04%
MASTERCARD INC-CLASS A 1.85%
TSY INFL IX N/B 0.50000 04/15/2024 1.65%
VISA INC - CLASS A SHARES 1.58%
NEXON CO LTD 1.26%
JOHNSON & JOHNSON 1.22%
NOVARTIS AG- REG 1.19%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2020

Bonds
57.49%
Stocks
41.14%
Cash
1.37%

Detailed Asset Class Allocation

As of 05/31/2020

International Equities
11.96%
Small Capitalization
0.10%
Mid Capitalization
2.16%
Large Capitalization
26.92%
Long Term Fixed Income
16.36%
Intermediate Term Fixed Income
36.94%
Short Term Fixed Income
4.19%
Cash
1.37%

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

May Fund Holdings

As of 05/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 40,000 $41,365.20
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 840,000 $942,806.88
00287Y109 ABBVIE INC US ABBV 1,182 $109,535.94
004239109 ACADIA REALTY TRUST US AKR 4,055 $47,565.15
00507V109 ACTIVISION INC US ATVI 30,175 $2,171,996.50
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 2,590,000 $2,231,124.26
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 45,000 $40,500.00
008492100 AGREE REALTY CORP US ADC 1,155 $72,499.35
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 535,000 $469,497.95
00912XBA1 AIR LEASE CORP 3.25000 03/01/2025 US 80,000 $73,211.43
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 105,000 $102,413.85
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 585 $89,926.20
01609W102 ALIBABA GROUP - ADR CN BABA 7,970 $1,652,898.30
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 3,000,000 $3,328,926.33
020002101 ALLSTATE CORPORATION US ALL 347 $33,940.07
02079K107 ALPHABET INC-CL C US GOOG 540 $771,616.80
02079K305 ALPHABET INC-CL A US GOOGL 3,020 $4,329,230.40
02154CAE3 ALTICE FINANCING SA 7.50000 05/15/2026 LU 75,000 $78,965.25
023135106 AMAZON.COM INC US AMZN 1,685 $4,115,393.45
02319V103 AMBEV SA-ADR BR ABEV 35,776 $82,642.56
0237400 DIAGEO PLC GB DGE LN 43,093 $1,503,503.92
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 3,772 $121,835.60
02665T306 AMERICAN HOMES 4 RENT- A US AMH 5,345 $134,907.80
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 120,000 $119,727.32
03027X100 AMERICAN TOWER REIT INC US AMT 7,150 $1,845,915.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,260,000 $2,533,392.18
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 34,500.66 $34,597.69
03064D108 AMERICOLD REALTY TRUST US COLD 4,910 $175,336.10
032654105 ANALOG DEVICES INC US ADI 326 $36,821.70
03674XAJ5 ANTERO RESOURCES CORP 5.00000 03/01/2025 US 70,000 $39,200.00
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 130,000 $102,375.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 120,000 $93,816.00
03748R754 APARTMENT INVT & MGMT CO -A US AIV 2,731 $100,691.97
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 705 $27,713.55
053015103 AUTOMATIC DATA PROCESSING US ADP 312 $45,704.88
053484101 AVALONBAY COMMUNITIES INC US AVB 1,275 $198,912.75
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 1,150,000 $884,284.13
055622104 BP PLC-SPONS ADR GB BP 1,670 $38,643.80
05722G100 BAKER HUGHES CO US BKR 1,461 $24,121.11
060505104 BANK OF AMERICA CORP US BAC 5,173 $124,772.76
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,300,000 $1,419,911.16
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 14,085 $2,613,894.30
086516101 BEST BUY INC US BBY 392 $30,611.28
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 18,360 $1,956,258.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 10,240 $123,603.21
09857L108 BOOKING HOLDINGS INC US BKNG 920 $1,508,266.40
101121101 BOSTON PROPERTIES INC US BXP 434 $37,315.32
105368203 BRANDYWINE REALTY TRUST US BDN 7,080 $68,322.00
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,742 $104,032.24
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 380,000 $3,800.00
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 70,000 $72,625.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 20,410 $2,172,848.60
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 264 $21,418.32
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 379,679.1 $388,197.01
12572Q105 CME GROUP INC US CME 7,080 $1,292,808.00
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 800,161.7 $826,374.84
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 737,248.66 $749,702.19
12653CAC2 CNX RESOURCES CORP 7.25000 03/14/2027 US 40,000 $37,800.00
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 35,000 $31,587.50
127097103 CABOT OIL & GAS CORP US COG 163,040 $3,234,713.60
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 60,000 $54,600.00
133131102 CAMDEN PROPERTY TRUST US CPT 1,990 $182,224.30
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 2,000,000 $2,095,047.98
13321L108 CAMECO CORP CA CCJ 20,989 $228,150.43
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 105,000 $104,883.45
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 70,000 $73,150.00
149123101 CATERPILLAR INC US CAT 540 $64,870.20
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 642,093.21 $635,763.71
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 2,025 $1,101,600.00
16411QAD3 CHENIERE ENERGY PARTNERS 5.62500 10/01/2026 US 115,000 $117,047.00
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 1,256,152.32 $1,260,151.41
166764100 CHEVRON CORP US CVX 6,540 $599,718.00
172062101 CINCINNATI FINANCIAL CORP US CINF 193 $11,377.35
17275R102 CISCO SYSTEMS INC US CSCO 2,993 $143,125.26
172967424 CITIGROUP INC US C 1,554 $74,452.14
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 2,240,000 $2,493,926.44
191216100 COCA COLA CO/THE US KO 70,290 $3,281,137.20
194162103 COLGATE-PALMOLIVE CO US CL 955 $69,075.15
20030N101 COMCAST CORP-CL A US CMCSA 2,356 $93,297.60
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 2,080,000 $2,278,981.47
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 1,506,833.9 $1,554,745.49
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,080 $75,753.60
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 60,000 $63,088.20
205887102 CONAGRA BRAND INC. US CAG 749 $26,057.71
20605P101 CONCHO RESOURCES INC US CXO 14,795 $806,623.40
20825C104 CONOCOPHILLIPS US COP 27,119 $1,143,879.42
21036P108 CONSTELLATION BRANDS INC-A US STZ 172 $29,704.40
217204106 COPART INC US CPRT 18,980 $1,696,622.20
21870Q105 CORESITE REALTY CORP US COR 380 $47,431.60
222795502 COUSINS PROPERTIES INC US CUZ 5,337 $166,087.44
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 1,190,000 $1,180,780.71
22822V101 CROWN CASTLE INTL CORP US CCI 960 $165,273.60
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 2,270,000 $2,394,068.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 506,051.01 $511,886.64
231021106 CUMMINS INC US CMI 213 $36,124.80
247361ZN1 DELTA AIR LINES INC 4.37500 04/19/2028 US 100,000 $81,286.24
253868103 DIGITAL REALTY TRUST INC US DLR 1,904 $273,338.24
254687106 WALT DISNEY CO/THE US DIS 14,150 $1,659,795.00
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 895,000 $934,198.73
254709AP3 DISCOVER FINANCIAL SVS 4.50000 01/30/2026 US 75,000 $80,305.79
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 2,160,000 $2,398,525.37
256746108 DOLLAR TREE STORES INC US DLTR 16,035 $1,569,345.45
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 1,330,000 $1,459,524.12
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 140,000 $137,200.00
25960P109 DOUGLAS EMMETT INC US DEI 3,730 $109,512.80
260003108 DOVER CORP US DOV 174 $16,921.50
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 200,000 $210,250.00
262006208 DREYFUS GVT CSH MANAGEMENT US 5,236,000.56 $5,236,000.56
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 35,000 $35,000.00
264411505 DUKE RLTY INVTS INC US DRE 3,659 $126,162.32
26875P101 EOG RESOURCES INC US EOG 33,031 $1,683,590.07
2715777 QUEBECOR INC -CL B CA QBR/B CN 8,960 $196,985.29
277276101 EASTGROUP PROPERTIES US EGP 300 $34,875.00
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 6,249 $105,432.16
285512109 ELECTRONIC ARTS US EA 18,570 $2,281,881.60
2866857 LUNDIN MINING CORP CA LUN CN 24,200 $111,434.07
291011104 EMERSON ELEC CO US EMR 791 $48,266.82
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,470,000 $1,661,332.29
29444U700 EQUINIX INC US EQIX 4,190 $2,923,069.70
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 2,820 $175,686.00
29476L107 EQUITY RESIDENTIAL US EQR 1,960 $118,697.60
297178105 ESSEX PROPERTY TRUST INC US ESS 385 $93,466.45
30212P303 EXPEDIA INC US EXPE 45,920 $3,649,721.60
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 1,035,000 $1,105,291.81
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 3,700,000 $3,731,763.76
30225T102 EXTRA SPACE STORAGE INC US EXR 500 $48,375.00
30231G102 EXXON MOBIL CORP US XOM 27,815 $1,264,748.05
302491303 FMC CORP US FMC 15,920 $1,566,687.20
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 25,000 $20,000.00
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 122,133,027.41 $257,236.58
30303M102 FACEBOOK INC -A US FB 12,670 $2,851,890.30
311900104 FASTENAL CO US FAST 861 $35,524.86
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 1,062.13 $1,236.25
3128M5RA0 FHLM POOL G03781 6.00000 01/01/2038 US 156,449.86 $180,422.33
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 153,793.45 $178,012.28
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 162,899.3 $188,953.93
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 83,647.83 $96,716.65
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 100,816.72 $115,816.01
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,663.71 $5,904.14
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 10,334.53 $10,582.79
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 7,230.99 $7,444.50
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,903.29 $7,174.73
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,036.4 $11,440.75
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 206,732.12 $237,581.06
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 578,661.73 $637,673.02
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 1,186,390.24 $1,317,522.94
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 560,227.26 $605,168.31
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 515,091.23 $568,244.96
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 28.01 $27.99
3136AY6W8 FNA 2017-M15 A1 2.95933 09/25/2027 US 1,210,045.08 $1,315,478.49
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 869,246.12 $900,380.52
3137A2B34 FHMS K009 X1 FLT 1.21114 08/25/2020 US 5,568,619.98 $5,804.17
3137ADTK3 FHMS K014 X1 FLT 1.14928 04/25/2021 US 7,618,801.42 $53,587.60
3137AJMG6 FMHS K016 X1 FLT 1.47797 10/25/2021 US 4,894,970.88 $80,406.75
3137AME78 FHMS K017 X1 FLT 1.28598 12/25/2021 US 7,243,137.98 $104,286.70
3137AUPF0 FHMS K021 x1 FLT 1.41666 06/25/2022 US 9,480,254.81 $220,146.69
3137B3NB0 FHMS K030 X1 FLT 0.17807 04/25/2023 US 49,007,209.33 $224,859.78
3137B4GZ3 FHMS K032 X1 FLT 0.09354 05/25/2023 US 36,961,955.59 $117,782.97
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 897,242.04 $916,280.98
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 603,148.47 $613,997.06
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 537,398.51 $621,886.69
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 427,168.63 $490,971.86
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64400 01/01/2049 US 1,371,824.24 $1,605,488.54
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 707,885.37 $778,737.72
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 368,990.66 $430,910.30
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 520,076.76 $573,905.54
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 250,762.16 $272,649.52
3140HPUY1 FEDERAL NATL MTG ASSN FN BK9598 4.50000 08/01/2048 US 368,987.91 $398,725.96
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 987,059 $1,065,662.78
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 1,166,084.7 $1,274,328.70
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 1,252,147.74 $1,353,109.58
3140Q9T78 FEDERAL NATL MTG ASSN FN CA2373 5.00000 09/01/2048 US 1,143,136.88 $1,247,961.26
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 6,304.9 $6,435.75
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 7,645.38 $7,818.67
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 31,218.27 $31,572.64
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 34,887.58 $35,309.17
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 323,854.57 $374,582.80
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 712,009.73 $823,512.14
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 493.59 $497.33
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 23,581.22 $23,891.80
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 597,494.57 $663,532.20
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 420,859.82 $462,924.68
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 408,872.5 $450,461.28
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 1,193,387.49 $1,264,149.39
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 1,496,300.01 $1,585,908.67
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 732,371.1 $778,565.59
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 995,457.55 $1,015,657.57
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 34,220.15 $39,598.60
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 104,066.03 $120,381.41
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73179PAM8 POLYONE CORP 5.75000 05/15/2025 US 70,000 $73,412.50
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785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,690,000 $3,090,383.77
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83088M102 SKYWORKS SOLUTIONS INC US SWKS 194 $22,996.76
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 195 $22,216.35
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83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 880,000 $902,847.09
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85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 40,000 $41,922.00
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862121100 STORE CAPITAL CORP US STOR 2,740 $52,991.60
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867892101 SUNSTONE HOTEL INVESTORS INC US SHO 3,795 $33,585.75
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87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 110,000 $111,111.00
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882508104 TEXAS INSTRUMENTS INC US TXN 806 $95,704.44
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88579Y101 3M CO US MMM 521 $81,505.24
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89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 1,244,453 $1,279,952.64
89832Q109 TRUIST FINANCIAL CORP US TFC 1,432 $52,668.96
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902653104 UDR INC US UDR 1,951 $72,147.98
902973304 U.S. BANCORP US USB 1,493 $53,091.08
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912828D56 US TREASURY N/B 2.37500 08/15/2024 US 14,585,000 $15,872,012.34
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931142103 WAL MART STORES US WMT 1,422 $176,413.32
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949746101 WELLS FARGO COMPANY US WFC 3,189 $84,412.83
95040Q104 WELLTOWER INC. US WELL 2,465 $124,901.55
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966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 60,000 $7,050.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 1,840,000 $1,957,829.57
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98311A105 WYNDHAM HOTELS & RESORTS INC US WH 2,443 $112,206.99
983919101 XILINX INC US XLNX 266 $24,458.70
B02J639 ADMIRAL GROUP PLC GB ADM LN 13,285 $383,729.10
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B1Y9TB3 DANONE FR BN FP 4,046 $278,366.76
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 21,875 $217,343.94
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 3,460,000 $158,096.31
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 433,000 $330,034.15
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 5,621,000 $260,072.49
B4YVF56 BRENNTAG AG DE BNR GR 3,910 $208,025.43
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 8,562,000 $385,972.47
B63QM77 NEXON CO LTD JP 3659 JP 227,100 $4,731,816.60
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,081,000 $53,884.01
BBG00T36KXJ4 BABA US 05/29/20 P195 CN -47 -$47.00
BBG00T7BRKC7 DIS US 05/29/20 C113 US -80 -$33,600.00
BBG00TF3H2M6 ATVI US 06/05/20 P70 US -130 -$7,800.00
BBG00TKX88P8 NOW US 06/12/20 P330 US -28 -$3,668.00
BBG00TPV7B53 CRM US 06/12/20 C187.5 US -49 -$5,537.00
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 2,972 $66,350.00
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 45,405 $55,059.47
BH8295835 SAUDI INTERNATIONAL BOND 2.90000 10/22/2025 SA 200,000 $208,500.00
BJ2KSG2 AKZO NOBEL NL AKZA NA 2,168 $178,031.41
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 700,000 $785,766.05
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 57,628 $3,120,894.38
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 41,730 $201,550.51
BNGN9Z1 FINECOBANK SPA IT FBK IM 26,765 $313,507.77
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 7,545 $210,154.28
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 18,565 $129,041.52
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 38,165 $1,780,975.15
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 84,215 $132,535.65
BZ1HM42 ADYEN NV NL ADYEN NA 90 $118,187.07
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 6,015 $146,946.45
G1151C101 ACCENTURE PLC - CL A IE ACN 1,347 $271,582.14
G29183103 EATON CORP PLC US ETN 508 $43,129.20
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,115 $35,022.15
G5494J103 LINDE PLC GB LIN 335 $67,783.90
G5960L103 MEDTRONIC INC IE MDT 17,746 $1,749,400.68
G85158106 STONECO LTD-A BR STNE 3,335 $105,652.80
G8994E103 TRANE TECHNOLOGIES IE TT 254 $22,913.34
G97822103 PERRIGO CO PLC IE PRGO 3,635 $199,088.95
H01301128 ALCON INC CH ALC 28,465 $1,808,666.10
H1467J104 CHUBB LTD CH CB 415 $50,605.10
H2906T109 GARMIN LTD CH GRMN 218 $19,657.06
N53745100 LYONDELLBASELL INDU-CL A US LYB 504 $32,135.04

Investments will change over time.

Distributions

  • Pro-Blend® Moderate Term Series Class W Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2020 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

A Word About Risk

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


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