Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 22% - 62%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$9.08

Daily $ Change

$0.00

Daily % Change

0.00%

as of 12/11/2018

Ticker

MTNRX

CUSIP

56382P815

Inception Date

03/28/2008

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-3/20/18

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment.

Performance

As of 11/30/2018

YTD

-1.29%

1 Year

-0.45%

3 Year

3.57%

5 Year

2.65%

10 Year

7.23%

Inception
(03/28/2008)

4.30%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.22%
Net 1.22%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.50%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 13.54%
GOVERNMENT AGENCY 9.33%
TREASURY BONDS 6.51%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.24%
NOVARTIS AG- REG 1.45%
QORVO INC 1.33%
MASTERCARD INC-CLASS A 1.26%
MEDTRONIC INC 1.21%
BOOKING HOLDINGS INC 1.18%
JOHNSON & JOHNSON 1.17%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 11/30/2018

Bonds 60.49%
Stocks 38.50%
Cash 1.01%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities 14.25%
Small Capitalization 0.60%
Mid Capitalization 3.35%
Large Capitalization 20.30%
Long Term Fixed Income 17.97%
Intermediate Term Fixed Income 30.76%
Short Term Fixed Income 11.76%
Cash 1.01%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 16,460.56 $16,584.01
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 467,457.42 $450,586.38
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 394,336.69 $389,606.57
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 9,245.79 $9,430.71
004239109 ACADIA REALTY TRUST US AKR 301.09 $8,632.11
0045614 ANTOFAGASTA PLC GB ANTO LN 3,151.69 $32,342.23
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 467,004.2 $454,581.20
008492100 AGREE REALTY CORP US ADC 168.49 $10,037.19
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 24,237.61 $24,778.64
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 69.5 $8,653.27
01609W102 ALIBABA GROUP - ADR CN BABA 2,762.83 $444,428.58
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 22,772.84 $22,772.84
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 24,237.61 $24,169.50
02079K107 ALPHABET INC-CL C US GOOG 500.54 $547,809.11
02079K305 ALPHABET INC-CL A US GOOGL 326.87 $362,714.38
023135106 AMAZON.COM INC US AMZN 201.15 $339,981.89
02319V103 AMBEV SA-ADR BR ABEV 95,275.8 $406,827.67
0237400 DIAGEO PLC GB DGE LN 21,436.12 $774,128.42
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 24,237.61 $24,389.10
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 222.67 $9,759.66
0263494 BAE SYSTEMS PLC GB BA/ LN 3,202.05 $20,129.12
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,597.09 $33,267.41
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 483,011.53 $455,976.75
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 28,579.36 $27,650.53
03027X100 AMERICAN TOWER REIT INC US AMT 2,493.38 $410,135.60
03064D108 AMERICOLD REALTY TRUST US COLD 301.54 $8,081.22
03748R101 APARTMENT INVT & MGMT CO -A US AIV 604.93 $28,485.94
03784Y200 APPLE HOSPITALITY REIT INC US APLE 519.41 $8,243.10
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 9,064.5 $8,441.32
0405207 HALMA PLC GB HLMA LN 778.11 $13,658.08
0490656 KERRY GROUP PLC-A IE KYGA LN 251.44 $25,989.21
053484101 AVALONBAY COMMUNITIES INC US AVB 371.72 $70,839.10
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 436,510.82 $417,263.31
058498106 BALL CORP US BLL 17,261.47 $847,710.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 704,848.05 $683,636.97
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,510.93 $547,986.36
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 3,904.81 $374,978.67
0922320 SMITH & NEPHEW PLC GB SN/ LN 1,028.83 $18,776.57
09247X101 BLACKROCK INC US BLK 449.16 $192,244.02
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,827.06 $34,504.79
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 649,955.45 $661,847.56
09857L108 BOOKING HOLDINGS INC US BKNG 588.81 $1,113,957.45
101121101 BOSTON PROPERTIES INC US BXP 416.08 $54,590.00
105368203 BRANDYWINE REALTY TRUST US BDN 2,074.15 $29,598.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 7,321.31 $391,397.19
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 315.66 $11,007.08
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 28,579.36 $27,721.98
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,330.16 $358,391.39
12572Q105 CME GROUP INC US CME 1,944.51 $369,613.11
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 459,680.37 $457,974.95
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 147,465.41 $136,525.26
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 240,900.71 $234,346.28
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 219,714.85 $219,371.28
13321L108 CAMECO CORP CA CCJ 1,104.49 $13,121.34
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 160,265.18 $158,957.46
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 248,464.08 $247,686.33
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 47,463.68 $42,776.64
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 3,020.39 $3,012.40
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 597,559.36 $590,538.51
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 208,367.01 $205,767.97
165240102 CHESAPEAKE LODGING TRUST US CHSP 449 $13,277.03
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 483,464.75 $660,517.32
191216100 COCA COLA CO/THE US KO 14,637.71 $737,740.34
19626G108 COLONY CAPITAL INC US CLNY 1,870.31 $11,521.13
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 264.69 $13,891.55
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 872.26 $27,511.22
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 673.15 $16,916.83
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 109.03 $9,368.32
21871N101 CORECIVIC INC US CXW 1,000.66 $21,964.46
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 22,208.02 $23,444.59
222795106 COUSINS PROPERTIES INC US CUZ 3,591.65 $30,349.41
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 28,352.75 $26,368.06
2242059 FOMENTO ECONOMICO EXICA-UBD MX 1,421.81 $12,320.31
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 207,198.07 $206,207.06
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,464.22 $23,546.81
22822V101 CROWN CASTLE INTL CORP US CCI 227.47 $26,135.81
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 92,433 $84,506.32
229663109 CUBESMART US CUBE 239.13 $7,446.55
2306814 EL PUERTO DE LIVERPOOL -C1 MX 2,716.46 $16,183.68
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 585.18 $6,753.75
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 16,460.56 $16,625.16
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,027.95 $18,621.14
23918K108 DAVITA INC. US DVA 7,674.23 $506,959.80
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 28,579.36 $26,793.15
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 3,296.4 $6,301.69
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 3,684.77 $8,599.24
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 2,102.89 $6,710.55
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 836.62 $4,264.25
25271C102 DIAMOND OFFSHORE DRILLING US DO 11,363.78 $143,183.57
253868103 DIGITAL REALTY TRUST INC US DLR 421.1 $48,443.79
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 467,457.42 $431,019.49
2583952 METRO INC CA MRU CN 273.15 $9,415.75
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 9,064.5 $8,905.87
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,760 $35,447.10
269246401 ETRADE FINANCIAL CORP US ETFC 3,661.82 $191,476.77
2715777 QUEBECOR INC -CL B CA QBR/B CN 9,723.56 $209,817.87
277276101 EASTGROUP PROPERTIES US EGP 74.3 $7,431.40
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 10,374.05 $195,277.09
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 1,179.43 $6,100.05
285512109 ELECTRONIC ARTS US EA 6,445.42 $541,866.32
2866857 LUNDIN MINING CORP CA LUN CN 4,518.08 $19,688.93
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 2,850.47 $2,837.63
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 243,982.54 $242,027.16
29444U700 EQUINIX INC US EQIX 1,369.83 $527,766.49
2945422 WEG SA BR WEGE3 BZ 832.09 $3,834.46
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 184.5 $18,363.43
29476L107 EQUITY RESIDENTIAL US EQR 812.72 $57,906.44
297178105 ESSEX PROPERTY TRUST INC US ESS 136.25 $35,767.73
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 388,852.67 $382,829.73
30225T102 EXTRA SPACE STORAGE INC US EXR 189.3 $18,168.67
30261KAN6 FREMF 2012-K711 B 3.68865 08/25/2045 US 128,167 $128,138.88
30261UAJ3 FREMF 2013-K713 B 3.26265 04/25/2046 US 242,376.1 $241,200.26
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 32,467.89 $31,818.53
30287EAE0 FREMF 2014-K41 B FLT 3.96255 11/25/2047 US 21,981.41 $21,714.89
30291EAE4 FREMF 2013-K712 B FLT 3.47306 05/25/2045 US 117,557.01 $117,296.67
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 17,869,961 $59,910.83
30291XAE2 FREMF 2014-K715 B FLT 4.11882 02/25/2046 US 21,346.9 $21,530.04
30292HAU0 FREMF 2014- K503 B 3.13900 10/25/2047 US 242,376.1 $241,603.16
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 28,113.4 $30,858.75
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 8,303.56 $8,919.82
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 9,225.72 $9,897.35
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 28,214.01 $30,427.86
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 288,261.63 $297,694.55
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 35,421.81 $38,083.64
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 102,489.85 $106,411.28
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 6,778.14 $7,054.52
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 7,905.44 $8,207.37
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 11,233.59 $11,331.29
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 226,915.13 $228,488.01
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 180,197.4 $177,278.84
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 332,816.36 $317,602.94
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 613,791.49 $631,412.98
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 193,176.38 $192,154.79
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 66.3 $8,756.97
3137A2B34 FHMS K009 X1 FLT 1.44443 08/25/2020 US 1,822,868.64 $31,324.72
3137AME78 FHMS K017 X1 FLT 1.45146 12/25/2021 US 268,604.48 $8,728.33
3137AUPF0 FHMS K021 x1 FLT 1.57841 06/25/2022 US 1,388,488.86 $58,929.41
3137B3NB0 FHMS K030 X1 FLT 0.30922 04/25/2023 US 7,211,021.6 $54,988.37
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 236,676.85 $241,388.69
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 246,626.41 $254,750.76
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 91,043.16 $99,571.62
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 140,870.12 $142,721.75
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 214,173.01 $222,423.49
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 4,781.84 $5,222.97
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 221,142.36 $229,967.59
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 119,480.45 $121,049.61
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 258,017.65 $275,823.24
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 493,071.84 $485,530.81
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 11,452.87 $11,879.46
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 65,073.66 $70,106.93
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 318,809.63 $313,932.81
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 164,266.83 $161,686.17
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 107,698.84 $105,939.95
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 15,701.68 $15,799.93
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 465,833.01 $457,548.35
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 113,441.49 $116,734.75
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 471,381.46 $474,756.45
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 337,851.51 $353,955.96
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 513,476.33 $537,927.31
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 354,161.34 $364,661.21
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 209,387.83 $219,348.03
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 22,056.08 $22,426.12
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 26,425.41 $26,863.46
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 214,059.47 $224,767.50
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 124,137.24 $135,801.09
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 115,550.47 $120,153.34
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 99,592.6 $103,399.55
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 68,586.44 $71,209.98
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 463,907.98 $485,951.84
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 184,590.63 $176,203.46
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 508,198.31 $498,634.27
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 222,165.02 $228,622.84
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 243,629.07 $248,840.30
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 9,696.42 $10,607.60
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 6,026.95 $6,481.07
31428X106 FEDEX CORPORATION US FDX 1,641.65 $375,938.22
32054K103 FIRST INDUSTRIAL REALTY TR US FR 427.07 $13,691.80
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 24,237.61 $22,177.41
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 24,690.84 $23,888.38
35563BAJ9 FREMF 2014-K37 B FLT 4.71403 01/25/2047 US 234,362.51 $242,697.28
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 397,683.88 $402,726.88
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 298,053.63 $296,365.36
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 72,953.89 $71,487.69
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 364,996.05 $290,171.86
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 459,680.37 $456,037.48
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 24,237.61 $21,207.91
374297109 GETTY REALTY CORP US GTY 501.56 $15,342.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 41,151.39 $39,968.29
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 245,024.83 $228,575.70
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 36,356.42 $34,538.59
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 88.46 $6,158.41
4012250 AIRBUS SE FR AIR FP 126.17 $13,531.45
40414L109 HCP INC US HCP 946.52 $27,695.12
4057808 L'OREAL FR OR FP 83.89 $19,794.96
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 58.75 $16,815.07
4162791 THALES SA FR HO FP 20.8 $2,553.09
4163437 CAP GEMINI FR CAP FP 33.6 $3,923.31
421946104 HEALTHCARE REALTY TRUST INC US HR 795.81 $24,670.05
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,266.07 $35,601.81
44107P104 HOST MARRIOTT CORP US HST 1,616.53 $30,714.14
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 48,701.83 $45,414.46
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 28,949.16 $27,646.45
45337C102 INCYTE CORP US INCY 11,454.75 $735,967.79
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,538.57 $15,539.58
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 75,783.57 $72,941.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,623.23 $377,810.04
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 453,406.18 $458,220.92
46187BAA1 IHSFR 2017-SFR2 A 3.15250 12/17/2036 US 72,043.7 $71,954.15
46187BAB9 IHSFR 2017-SFR2 B 3.45250 12/17/2036 US 53,043.58 $53,389.93
46187W107 INVITATION HOMES INC US INVH 1,391.65 $29,864.84
464286624 ISHARES MSCI THAILAND ETF TH 597.67 $51,537.48
464287739 ISHARES DJ US REAL ESTATE US 16.23 $1,327.61
464288513 ISHARES IBOXX H/Y CORP BOND 4.46500 US 3,482.48 $291,135.36
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 681,063.66 $689,311.20
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 81,897.31 $79,104.45
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 108,093.92 $106,438.78
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 381,003.39 $379,859.92
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 249,286.6 $244,041.36
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 16,529.05 $15,934.38
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 299,102.53 $292,629.65
4682329 PERNOD-RICARD SA FR RI FP 83.66 $13,374.67
4712798 RENAULT SA FR RNO FP 50.29 $3,539.78
4741844 MERCK KGAA DE MRK GR 7,150.62 $791,563.05
476405105 JERNIGAN CAPITAL INC US JCAP 865.99 $18,514.91
478160104 JOHNSON & JOHNSON US JNJ 7,511.7 $1,103,469.11
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 48,701.83 $36,039.36
4821100 SOLVAY SA BE SOLB BB 263.79 $28,576.31
4834108 SCHNEIDER ELECTRIC SE FR SU FP 121.61 $8,863.92
4834777 VIVENDI FR VIV FP 201.38 $5,022.87
49446R109 KIMCO REALTY CORP US KIM 790.79 $12,929.36
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 586,379.35 $650,912.36
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 406,981.67 $401,665.98
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 36,356.42 $32,857.11
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 24,237.61 $22,965.14
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 32,467.89 $33,198.42
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 20,349.08 $20,349.08
5107401 BEIERSDORF AG DE BEI GR 188.13 $20,195.31
5176177 ORANGE FR ORA FP 408.23 $7,017.63
5253973 HERMES INTERNATIONAL FR RMS FP 4.34 $2,350.69
5263574 FLSMIDTH & CO A/S DK FLS DC 50.51 $2,533.95
529043101 LEXINGTON REALTY TRUST US LXP 1,582.03 $13,890.19
531172104 LIBERTY PROPERTY TRUST US LPT 674.2 $30,534.65
5330047 DASSAULT SYSTEMES SA FR DSY FP 29.71 $3,572.50
53815P108 LIVERAMP HOLDINGS INC US RAMP 11,776.71 $557,038.44
5458314 AKZO NOBEL NL AKZA NA 385.16 $32,366.11
5474008 BANKINTER S.A. ES BKT SM 2,411.83 $20,193.92
550021109 LULULEMON - ADR CA LULU 6,230.07 $825,795.98
5505072 KERING FR KER FP 16.91 $7,362.31
554382101 THE MACERICH CO US MAC 119.57 $6,012.96
5545670 JUNGHEINRICH AG DE JUN3 GR 383.09 $12,804.17
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 214,059.47 $226,464.50
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 35,027.62 $33,101.10
5596991 UCB SA BE UCB BB 151.32 $12,752.23
5669354 REPSOL SA ES REP SM 1,817.4 $31,307.26
5671519 WOLTERS KLUWER NL WKL NA 146.98 $8,885.61
5671735 SANOFI-AVENTIS FR SAN FP 235.66 $21,365.10
5701513 ELISA OYJ FI ELISA FH 214.18 $8,599.31
5713422 METSO OYJ FI METSO FH 491.9 $14,078.38
5727973 SIEMENS AG-REG DE SIE GR 218.75 $25,456.74
57636Q104 MASTERCARD INC-CLASS A US MA 5,907.26 $1,187,772.34
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 24,237.61 $24,140.66
5852842 ACCOR SA FR AC FP 3.22 $142.94
58933Y105 MERCK & CO INC US MRK 6,216.47 $493,215.11
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 20,349.08 $17,907.19
594918104 MICROSOFT CORP US MSFT 9,240.68 $1,024,699.55
59522J103 MID-AMERICA APARTMENT COMM US MAA 280.28 $29,026.08
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 2.51 $17,156.27
5966516 SOCIETE GENERALE FR GLE FP 168.46 $6,186.60
5980613 GIVAUDAN - REG CH GIVN SW 4.12 $10,160.05
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 16,556.85 $744,727.02
6136749 OBIC CO LTD JP 4684 JP 246.91 $21,410.61
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 681,063.66 $676,647.53
6175076 KT&G CORP KR 033780 KS 101.03 $9,374.25
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 329.21 $22,556.20
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 48,475.22 $48,596.41
6264189 NCSOFT CORP KR 036570 KS 29.71 $13,627.07
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 32,241.28 $28,694.74
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 23,498 $20,114.34
6307200 EISAI CO LTD JP 4523 JP 164.61 $15,157.76
6356934 FANUC LTD JP 6954 JP 82.3 $14,155.41
637417106 NATIONAL RETAIL PROPERTIES US NNN 296.29 $14,832.28
637870106 NATIONAL STORAGE AFFILIATES US NSA 259.71 $7,264.00
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 20,122.47 $20,223.08
64110W102 NETEASE.COM INC- ADR CN NTES 36.89 $8,377.31
6441506 HOYA CORP JP 7741 JP 246.91 $15,090.89
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 122.29 $14,445.74
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 160 $15,610.57
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 332.8 $19,022.89
6482903 KANAMOTO CO LTD JP 9678 JP 416.05 $12,271.01
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 85,259.84 $85,191.30
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 111,881.98 $111,584.05
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 116,801.99 $116,283.04
6490809 KIKKOMAN CORP JP 2801 JP 333.74 $19,536.75
6490995 KEYENCE CORP JP 6861 JP 86.84 $47,302.98
6518808 LION CORP JP 4912 JP 672.02 $13,277.66
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 7,543.22 $14,988.87
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 949.17 $832.76
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 338.28 $18,382.92
6642387 YAMAHA CORP JP 7951 JP 420.58 $18,133.73
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 48,475.22 $47,990.47
6683449 KANGWON LAND INC KR 035250 KS 344.24 $9,911.16
66987V109 NOVARTIS AG- REG CH NVS 14,945.52 $1,367,963.12
6742340 SHANDONG WEIGAO CN 1066 HK 13,349.74 $12,585.87
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 758.85 $13,691.58
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,073.15 $7,126.98
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 585.18 $10,053.03
6791591 SECOM CO LTD JP 9735 JP 86.84 $7,353.76
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 158,780.63 $157,438.73
6865504 SUZUKI MOTOR CORP JP 7269 JP 416.05 $20,757.78
6885074 TERUMO CORP JP 4543 JP 338.28 $19,947.28
6895200 TOHO CO LTD JP 9602 JP 255.97 $8,919.13
6911485 UNICHARM CORP JP 8113 JP 425.11 $13,312.83
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 10,057.62 $19,441.31
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 32,467.89 $32,224.38
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 790.87 $18,025.96
6985112 YAKULT HONSHA CO LTD JP 2267 JP 251.44 $19,016.36
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 425.11 $7,841.77
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 34,113.94 $33,175.81
7021963 DEUTSCHE BOERSE AG DE DB1 GR 84.34 $10,803.62
7062713 SODEXO FR SW FP 88 $9,107.58
7088429 AXA SA FR CS FP 450.52 $10,971.14
7103065 NOVARTIS AG-REG CH NOVN SW 386.07 $35,248.84
7103526 PEUGEOT SA FR UG FP 104.92 $2,308.41
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 121.61 $31,566.78
7110902 TECAN GROUP AG-REG CH TECN SW 29.26 $6,026.42
7123870 NESTLE SA-REGISTERED CH NESN SW 9,602.58 $819,225.25
7133608 EQUINOR ASA NO EQNR NO 802.08 $18,788.65
713448108 PEPSICO INC US PEP 6,227.39 $759,367.72
7145056 ENI SPA IT ENI IM 1,081.61 $17,452.25
71943U104 PHYSICIANS REALTY TRUST US DOC 2,077.76 $37,004.98
7212477 ESSILORLUXOTTICA FR EL FP 50.51 $6,386.89
7262610 CREDIT AGRICOLE SA FR ACA FP 294.4 $3,658.85
729640102 PLYMOUTH INDUSTRIAL REIT INC US 630.3 $7,948.03
7309681 BNP PARIBAS FR BNP FP 256.69 $12,911.04
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 28,352.75 $28,317.31
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 101.03 $3,754.97
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 713,078.33 $676,858.07
74340W103 PROLOGIS US PLD 1,035.43 $69,725.77
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 435,442.76 $446,058.85
74460D109 PUBLIC STORAGE INC US PSA 206.21 $43,976.38
74736K101 QORVO INC US QRVO 19,118.08 $1,258,161.12
756109104 REALTY INCOME CORP US O 144.26 $9,245.40
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,070.44 $391,404.72
76131D103 RESTAURANT BRANDS INTERN CA QSR 193.6 $11,292.81
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 32,694.5 $33,021.45
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 593.38 $36,807.25
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 130.29 $10,726.67
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,388.69 $408,011.40
78442PGC4 SLM CORP 5.12500 04/05/2022 US 32,241.28 $31,596.45
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 314,924.62 $308,449.33
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 140,945.99 $140,306.06
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 306,879.6 $306,120.69
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 641,725.17 $675,519.77
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 467,004.2 $452,127.23
806857108 SCHLUMBERGER LTD NL SLB 8,525.09 $384,481.45
808513105 CHARLES SCHWAB CORP/THE US SCHW 7,936.96 $355,575.71
81141R100 SEA LTD - ADR SG SE 666.16 $8,886.57
81211K100 SEALED AIR CORP US SEE 14,783.44 $540,039.05
812578102 SEATTLE GENETICS INC US SGEN 8,720.69 $545,740.97
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 113,169.74 $106,777.46
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 92,327.34 $80,824.83
81762P102 SERVICENOW INC US NOW 2,269.91 $420,545.90
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 21,995.14 $20,455.48
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 28,352.75 $26,580.70
828806109 SIMON PROPERTY GROUP INC US SPG 506.84 $94,115.48
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 46,254.35 $45,789.29
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 54,928.71 $52,980.36
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 11,389.71 $11,346.81
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 62,242.8 $61,770.89
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 136,500.18 $135,730.21
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 33,760.01 $33,461.73
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 105,701.85 $104,573.08
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.87800 12/01/2023 US 2,406.66 $2,404.26
84265V105 SOUTHERN COPPER CORPORATION US SCCO 508.81 $17,034.93
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 444,126.26 $451,705.71
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 36,227.67 $34,733.28
85254J102 STAG INDUSTRIAL INC US STAG 669.86 $17,945.58
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 244,429.93 $244,460.56
862121100 STORE CAPITAL CORP US STOR 288.97 $8,657.43
866674104 SUN COMMUNITIES US SUI 353.9 $36,841.19
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,208 $18,434.11
874080104 TAL EDUCATION GROUP - ADR CN TAL 256.24 $7,192.53
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 3,615.91 $3,601.48
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 28,352.75 $26,297.17
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 20,122.47 $18,015.65
88650V208 TIER REIT INC US TIER 1,280.71 $30,148.02
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 204,665.47 $198,717.93
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 182,303.49 $175,135.97
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 189,166.83 $179,946.05
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,805.32 $34,373.11
902653104 UDR INC US UDR 866.22 $36,918.24
903002103 UMH PROPERTIES INC US UMH 650.87 $8,480.86
904767704 UNILEVER PLC - ADR GB UL 12,335.65 $669,702.32
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 708,706.42 $926,855.11
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,577,092.69 $1,928,365.45
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 514,560.4 $461,235.06
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,202,238.49 $1,887,301.19
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,504,124.36 $1,416,814.63
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 268,853.06 $258,109.44
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 1,987,602.29 $1,946,452.72
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 1,841,910.31 $1,835,147.04
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 4,089,224.35 $4,009,622.90
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 99,029.66 $93,969.86
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,100,273.68 $1,915,269.10
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 3,221,019.71 $2,995,170.86
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 495,198.12 $476,946.13
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,962,487.12 $1,874,251.86
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,985,789.39 $1,892,705.52
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 45.32 $43.98
91704F104 URBAN EDGE PROPERTIES US UE 1,437.54 $28,664.61
92276F100 VENTAS INC US VTR 276.17 $17,533.88
92339V100 VEREIT INC US VER 3,108.48 $23,779.87
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 633,948.12 $661,317.00
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,713.88 $309,851.48
92826C839 VISA INC - CLASS A SHARES US V 7,261.96 $1,029,091.87
929042109 VORNADO REALTY TRUST US VNO 473.92 $34,103.34
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 28,352.75 $25,659.24
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 32,014.66 $32,494.88
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 31,735.51 $29,434.68
948741103 WEINGARTEN REALTY INVESTORS US WRI 746.88 $21,554.95
95040Q104 WELLTOWER INC. US WELL 333.78 $24,142.27
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 36,356.42 $36,163.73
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 28,352.75 $25,409.73
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 364,542.83 $336,986.28
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 93,935.12 $93,566.22
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 114,680.92 $111,978.13
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 7,587.66 $199,707.22
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 9,064.5 $8,656.60
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 1,421.81 $14,140.87
B00FV12 ISHARES FTSE 250 IE 2,166.92 $49,131.08
B02J639 ADMIRAL GROUP PLC GB ADM LN 349.49 $9,300.24
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,501.85 $13,989.26
B058TZ6 SAFRAN SA FR SAF FP 71.09 $8,898.33
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 507.41 $7,772.27
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 41.83 $8,732.80
B0C2CQ3 ENGIE FR ENGI FP 386.98 $5,454.75
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 528.71 $5,345.84
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 507.41 $21,351.03
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 210.29 $10,837.85
B15C557 TOTAL SA FR FP FP 542.64 $30,181.47
B19NLV4 EXPERIAN PLC GB EXPN LN 381.5 $9,306.87
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,977.89 $32,556.43
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,508.64 $6,754.66
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 391.09 $19,518.98
B1XH026 VINCI SA FR DG FP 360.25 $31,435.25
B1Y9TB3 DANONE FR BN FP 509.26 $38,024.51
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 3,382.76 $15,501.22
B1YXBJ7 AIR LIQUIDE FR AI FP 92.57 $11,203.57
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 338.28 $12,606.02
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 151.32 $12,595.84
B283W97 CAIXABANK S.A ES CABK SM 4,795.07 $19,807.73
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 4,032.11 $18,383.84
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 2,279.11 $4,339.85
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 41,981.64 $31,614.60
B3NB1P2 SUNCOR ENERGY INC CA SU CN 579.67 $18,690.55
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 425.11 $5,058.02
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 435,733.11 $20,359.01
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 53,692.54 $41,146.03
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 82.3 $3,503.88
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 709,164.88 $32,409.66
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 5,164.78 $4,077.27
B4R2R50 JULIUS BAER CH BAER SW 501.52 $20,228.83
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 507.41 $5,605.56
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 25,687.93 $8,118.56
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 93,477.04 $68,293.63
B4YVF56 BRENNTAG AG DE BNR GR 6.16 $285.90
B607XS1 VERMILION ENERGY INC CA VET CN 698.52 $17,380.92
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,074,516.29 $52,395.06
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 2,718.21 $28,215.21
B63QM77 NEXON CO LTD JP 3659 JP 2,044.01 $24,302.05
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 136,372.35 $5,904.74
B8FMRX8 COLOPLAST-B DK COLOB DC 185.37 $17,698.39
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 667.49 $4,888.35
BB22L96 KION GROUP AG DE KGX GR 332.8 $18,833.11
BBG00MBFLVG6 QRVO US 12/21/18 C67.5 US -34.51 -$5,522.34
BBG00MCR9B13 BABA US 12/07/18 C165 CN -10.93 -$2,403.71
BBG00MD5C001 NOW US 12/07/18 C205 US -8.46 -$84.57
BBG00MHMRQ16 GOOG US 12/28/18 C1110 US -1.74 -$3,421.30
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 512.02 $13,194.87
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 338.28 $3,762.41
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 21,851.95 $9,555.24
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 152,430.25 $148,619.49
BD9Y9B7 BASIC-FIT NV NL BFIT NA 437.49 $13,135.79
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 21,670.66 $8,924.84
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 59,658.68 $75,936.16
BDZV116 EPIROC AB-A SE EPIA SS 1,766.88 $14,476.70
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 1,001.23 $4,375.69
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 155,541.07 $142,320.08
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 203.23 $34,934.69
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 923.46 $6,734.30
BG7ZWY7 AMBEV SA BR ABEV3 BZ 3,021.82 $13,221.93
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,437.3 $14,530.26
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 27,703.79 $21,147.33
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,724.13 $908,479.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,366.95 $14,696.89
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 15,367.48 $472,320.06
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 754.32 $20,812.43
BSQXJ01 THULE GROUP AB/THE SE THULE SS 944.49 $17,691.62
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 7,134.61 $17,673.75
BYQ32R1 NEMAK SAB DE CV MX 17,755.66 $12,727.64
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 33,555.63 $14,133.30
BYXS699 QIAGEN N.V. NL QIA GR 434.55 $15,377.91
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 12,793.51 $982,930.79
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 1,754.7 $8,159.15
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 148.71 $9,268.11
BZ3C3Q4 BANKIA SA ES BKIA SM 6,006.59 $19,882.03
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 1,091.69 $9,132.22
G02602103 AMDOCS LTD GG DOX 610.78 $39,645.81
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 284.14 $11,274.48
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 269.03 $13,058.92
G27358103 DESPEGAR.COM CORP AR DESP 357.98 $5,348.24
G3157S106 ENSCO INTERNATIONAL INC US ESV 30,161.38 $171,015.03
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 44,586.69 $46,147.23
G5960L103 MEDTRONIC INC IE MDT 11,726.51 $1,143,686.05
G84720104 STERIS PLC GB STE 117.26 $13,963.73
G97822103 PERRIGO CO PLC IE PRGO 465.62 $28,998.71
H8817H100 TRANSOCEAN LTD US RIG 19,353.05 $179,596.31
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 164.12 $18,349.84
N22717107 CORE LABORATORIES N.V. NL CLB 146.98 $12,215.16
N47279109 INTERXION HOLDING NV NL INXN 10,102.78 $629,100.25
N72482123 QIAGEN N.V. ADR NL QGEN 301.28 $10,677.20
USD US DOLLAR US 969,700.46 $969,700.46

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series and Manning & Napier Fund, Inc. Pro-Blend® Moderate Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Extended Series and Manning & Napier Fund, Inc. Blended Asset Moderate Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Distributions

  • Target 2020 Series Class R Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 Distributions
  • Tax Letter
  • Fourth Quarter 2018 Distribution Estimates

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

Daily Price

$9.08

Daily $ Change

$0.00

Daily % Change

0.00%

as of 12/11/2018

Ticker

MTNRX

CUSIP

56382P815

Inception Date

03/28/2008

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-3/20/18

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment.

Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 22% - 62%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 11/30/2018

YTD

-1.29%

1 Year

-0.45%

3 Year

3.57%

5 Year

2.65%

10 Year

7.23%

Inception
(03/28/2008)

4.30%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.22%
Net 1.22%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.50%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 11/30/2018

TREASURY NOTES 13.54%
GOVERNMENT AGENCY 9.33%
TREASURY BONDS 6.51%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.24%
NOVARTIS AG- REG 1.45%
QORVO INC 1.33%
MASTERCARD INC-CLASS A 1.26%
MEDTRONIC INC 1.21%
BOOKING HOLDINGS INC 1.18%
JOHNSON & JOHNSON 1.17%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 11/30/2018

Bonds
60.49%
Stocks
38.50%
Cash
1.01%

Detailed Asset Class Allocation

As of 11/30/2018

International Equities
14.25%
Small Capitalization
0.60%
Mid Capitalization
3.35%
Large Capitalization
20.30%
Long Term Fixed Income
17.97%
Intermediate Term Fixed Income
30.76%
Short Term Fixed Income
11.76%
Cash
1.01%

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

November Fund Holdings

As of 11/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 16,460.56 $16,584.01
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 467,457.42 $450,586.38
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 394,336.69 $389,606.57
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 9,245.79 $9,430.71
004239109 ACADIA REALTY TRUST US AKR 301.09 $8,632.11
0045614 ANTOFAGASTA PLC GB ANTO LN 3,151.69 $32,342.23
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 467,004.2 $454,581.20
008492100 AGREE REALTY CORP US ADC 168.49 $10,037.19
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 24,237.61 $24,778.64
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 69.5 $8,653.27
01609W102 ALIBABA GROUP - ADR CN BABA 2,762.83 $444,428.58
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 22,772.84 $22,772.84
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 24,237.61 $24,169.50
02079K107 ALPHABET INC-CL C US GOOG 500.54 $547,809.11
02079K305 ALPHABET INC-CL A US GOOGL 326.87 $362,714.38
023135106 AMAZON.COM INC US AMZN 201.15 $339,981.89
02319V103 AMBEV SA-ADR BR ABEV 95,275.8 $406,827.67
0237400 DIAGEO PLC GB DGE LN 21,436.12 $774,128.42
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 24,237.61 $24,389.10
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 222.67 $9,759.66
0263494 BAE SYSTEMS PLC GB BA/ LN 3,202.05 $20,129.12
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,597.09 $33,267.41
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 483,011.53 $455,976.75
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 28,579.36 $27,650.53
03027X100 AMERICAN TOWER REIT INC US AMT 2,493.38 $410,135.60
03064D108 AMERICOLD REALTY TRUST US COLD 301.54 $8,081.22
03748R101 APARTMENT INVT & MGMT CO -A US AIV 604.93 $28,485.94
03784Y200 APPLE HOSPITALITY REIT INC US APLE 519.41 $8,243.10
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 9,064.5 $8,441.32
0405207 HALMA PLC GB HLMA LN 778.11 $13,658.08
0490656 KERRY GROUP PLC-A IE KYGA LN 251.44 $25,989.21
053484101 AVALONBAY COMMUNITIES INC US AVB 371.72 $70,839.10
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 436,510.82 $417,263.31
058498106 BALL CORP US BLL 17,261.47 $847,710.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 704,848.05 $683,636.97
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,510.93 $547,986.36
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 3,904.81 $374,978.67
0922320 SMITH & NEPHEW PLC GB SN/ LN 1,028.83 $18,776.57
09247X101 BLACKROCK INC US BLK 449.16 $192,244.02
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,827.06 $34,504.79
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 649,955.45 $661,847.56
09857L108 BOOKING HOLDINGS INC US BKNG 588.81 $1,113,957.45
101121101 BOSTON PROPERTIES INC US BXP 416.08 $54,590.00
105368203 BRANDYWINE REALTY TRUST US BDN 2,074.15 $29,598.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 7,321.31 $391,397.19
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 315.66 $11,007.08
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 28,579.36 $27,721.98
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,330.16 $358,391.39
12572Q105 CME GROUP INC US CME 1,944.51 $369,613.11
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 459,680.37 $457,974.95
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 147,465.41 $136,525.26
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 240,900.71 $234,346.28
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 219,714.85 $219,371.28
13321L108 CAMECO CORP CA CCJ 1,104.49 $13,121.34
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 160,265.18 $158,957.46
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 248,464.08 $247,686.33
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 47,463.68 $42,776.64
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 3,020.39 $3,012.40
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 597,559.36 $590,538.51
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 208,367.01 $205,767.97
165240102 CHESAPEAKE LODGING TRUST US CHSP 449 $13,277.03
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 483,464.75 $660,517.32
191216100 COCA COLA CO/THE US KO 14,637.71 $737,740.34
19626G108 COLONY CAPITAL INC US CLNY 1,870.31 $11,521.13
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 264.69 $13,891.55
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 872.26 $27,511.22
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 673.15 $16,916.83
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 109.03 $9,368.32
21871N101 CORECIVIC INC US CXW 1,000.66 $21,964.46
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 22,208.02 $23,444.59
222795106 COUSINS PROPERTIES INC US CUZ 3,591.65 $30,349.41
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 28,352.75 $26,368.06
2242059 FOMENTO ECONOMICO EXICA-UBD MX 1,421.81 $12,320.31
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 207,198.07 $206,207.06
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,464.22 $23,546.81
22822V101 CROWN CASTLE INTL CORP US CCI 227.47 $26,135.81
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 92,433 $84,506.32
229663109 CUBESMART US CUBE 239.13 $7,446.55
2306814 EL PUERTO DE LIVERPOOL -C1 MX 2,716.46 $16,183.68
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 585.18 $6,753.75
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 16,460.56 $16,625.16
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 2,027.95 $18,621.14
23918K108 DAVITA INC. US DVA 7,674.23 $506,959.80
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 28,579.36 $26,793.15
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 3,296.4 $6,301.69
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 3,684.77 $8,599.24
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 2,102.89 $6,710.55
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 836.62 $4,264.25
25271C102 DIAMOND OFFSHORE DRILLING US DO 11,363.78 $143,183.57
253868103 DIGITAL REALTY TRUST INC US DLR 421.1 $48,443.79
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 467,457.42 $431,019.49
2583952 METRO INC CA MRU CN 273.15 $9,415.75
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 9,064.5 $8,905.87
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,760 $35,447.10
269246401 ETRADE FINANCIAL CORP US ETFC 3,661.82 $191,476.77
2715777 QUEBECOR INC -CL B CA QBR/B CN 9,723.56 $209,817.87
277276101 EASTGROUP PROPERTIES US EGP 74.3 $7,431.40
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 10,374.05 $195,277.09
2823885 ARCA CONTINENTAL SAB DE CV MX AC* MM 1,179.43 $6,100.05
285512109 ELECTRONIC ARTS US EA 6,445.42 $541,866.32
2866857 LUNDIN MINING CORP CA LUN CN 4,518.08 $19,688.93
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 2,850.47 $2,837.63
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 243,982.54 $242,027.16
29444U700 EQUINIX INC US EQIX 1,369.83 $527,766.49
2945422 WEG SA BR WEGE3 BZ 832.09 $3,834.46
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 184.5 $18,363.43
29476L107 EQUITY RESIDENTIAL US EQR 812.72 $57,906.44
297178105 ESSEX PROPERTY TRUST INC US ESS 136.25 $35,767.73
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 388,852.67 $382,829.73
30225T102 EXTRA SPACE STORAGE INC US EXR 189.3 $18,168.67
30261KAN6 FREMF 2012-K711 B 3.68865 08/25/2045 US 128,167 $128,138.88
30261UAJ3 FREMF 2013-K713 B 3.26265 04/25/2046 US 242,376.1 $241,200.26
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 32,467.89 $31,818.53
30287EAE0 FREMF 2014-K41 B FLT 3.96255 11/25/2047 US 21,981.41 $21,714.89
30291EAE4 FREMF 2013-K712 B FLT 3.47306 05/25/2045 US 117,557.01 $117,296.67
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 17,869,961 $59,910.83
30291XAE2 FREMF 2014-K715 B FLT 4.11882 02/25/2046 US 21,346.9 $21,530.04
30292HAU0 FREMF 2014- K503 B 3.13900 10/25/2047 US 242,376.1 $241,603.16
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 28,113.4 $30,858.75
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 8,303.56 $8,919.82
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 9,225.72 $9,897.35
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 28,214.01 $30,427.86
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 288,261.63 $297,694.55
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 35,421.81 $38,083.64
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 102,489.85 $106,411.28
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 6,778.14 $7,054.52
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 7,905.44 $8,207.37
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 11,233.59 $11,331.29
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 226,915.13 $228,488.01
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 180,197.4 $177,278.84
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 332,816.36 $317,602.94
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 613,791.49 $631,412.98
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 193,176.38 $192,154.79
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 66.3 $8,756.97
3137A2B34 FHMS K009 X1 FLT 1.44443 08/25/2020 US 1,822,868.64 $31,324.72
3137AME78 FHMS K017 X1 FLT 1.45146 12/25/2021 US 268,604.48 $8,728.33
3137AUPF0 FHMS K021 x1 FLT 1.57841 06/25/2022 US 1,388,488.86 $58,929.41
3137B3NB0 FHMS K030 X1 FLT 0.30922 04/25/2023 US 7,211,021.6 $54,988.37
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 236,676.85 $241,388.69
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 246,626.41 $254,750.76
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 91,043.16 $99,571.62
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 140,870.12 $142,721.75
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 214,173.01 $222,423.49
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 4,781.84 $5,222.97
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 221,142.36 $229,967.59
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 119,480.45 $121,049.61
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 258,017.65 $275,823.24
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 493,071.84 $485,530.81
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 11,452.87 $11,879.46
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 65,073.66 $70,106.93
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 318,809.63 $313,932.81
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 164,266.83 $161,686.17
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 107,698.84 $105,939.95
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 15,701.68 $15,799.93
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 465,833.01 $457,548.35
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 113,441.49 $116,734.75
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 471,381.46 $474,756.45
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 337,851.51 $353,955.96
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 513,476.33 $537,927.31
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 354,161.34 $364,661.21
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 209,387.83 $219,348.03
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 22,056.08 $22,426.12
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 26,425.41 $26,863.46
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 214,059.47 $224,767.50
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 124,137.24 $135,801.09
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 115,550.47 $120,153.34
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 99,592.6 $103,399.55
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 68,586.44 $71,209.98
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 463,907.98 $485,951.84
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 184,590.63 $176,203.46
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 508,198.31 $498,634.27
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 222,165.02 $228,622.84
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 243,629.07 $248,840.30
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 9,696.42 $10,607.60
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 6,026.95 $6,481.07
31428X106 FEDEX CORPORATION US FDX 1,641.65 $375,938.22
32054K103 FIRST INDUSTRIAL REALTY TR US FR 427.07 $13,691.80
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 24,237.61 $22,177.41
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 24,690.84 $23,888.38
35563BAJ9 FREMF 2014-K37 B FLT 4.71403 01/25/2047 US 234,362.51 $242,697.28
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 397,683.88 $402,726.88
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 298,053.63 $296,365.36
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 72,953.89 $71,487.69
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 364,996.05 $290,171.86
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 459,680.37 $456,037.48
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 24,237.61 $21,207.91
374297109 GETTY REALTY CORP US GTY 501.56 $15,342.65
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 41,151.39 $39,968.29
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 245,024.83 $228,575.70
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 36,356.42 $34,538.59
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 88.46 $6,158.41
4012250 AIRBUS SE FR AIR FP 126.17 $13,531.45
40414L109 HCP INC US HCP 946.52 $27,695.12
4057808 L'OREAL FR OR FP 83.89 $19,794.96
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 58.75 $16,815.07
4162791 THALES SA FR HO FP 20.8 $2,553.09
4163437 CAP GEMINI FR CAP FP 33.6 $3,923.31
421946104 HEALTHCARE REALTY TRUST INC US HR 795.81 $24,670.05
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,266.07 $35,601.81
44107P104 HOST MARRIOTT CORP US HST 1,616.53 $30,714.14
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 48,701.83 $45,414.46
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 28,949.16 $27,646.45
45337C102 INCYTE CORP US INCY 11,454.75 $735,967.79
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,538.57 $15,539.58
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 75,783.57 $72,941.68
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,623.23 $377,810.04
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 453,406.18 $458,220.92
46187BAA1 IHSFR 2017-SFR2 A 3.15250 12/17/2036 US 72,043.7 $71,954.15
46187BAB9 IHSFR 2017-SFR2 B 3.45250 12/17/2036 US 53,043.58 $53,389.93
46187W107 INVITATION HOMES INC US INVH 1,391.65 $29,864.84
464286624 ISHARES MSCI THAILAND ETF TH 597.67 $51,537.48
464287739 ISHARES DJ US REAL ESTATE US 16.23 $1,327.61
464288513 ISHARES IBOXX H/Y CORP BOND 4.46500 US 3,482.48 $291,135.36
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 681,063.66 $689,311.20
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 81,897.31 $79,104.45
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 108,093.92 $106,438.78
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 381,003.39 $379,859.92
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 249,286.6 $244,041.36
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 16,529.05 $15,934.38
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 299,102.53 $292,629.65
4682329 PERNOD-RICARD SA FR RI FP 83.66 $13,374.67
4712798 RENAULT SA FR RNO FP 50.29 $3,539.78
4741844 MERCK KGAA DE MRK GR 7,150.62 $791,563.05
476405105 JERNIGAN CAPITAL INC US JCAP 865.99 $18,514.91
478160104 JOHNSON & JOHNSON US JNJ 7,511.7 $1,103,469.11
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 48,701.83 $36,039.36
4821100 SOLVAY SA BE SOLB BB 263.79 $28,576.31
4834108 SCHNEIDER ELECTRIC SE FR SU FP 121.61 $8,863.92
4834777 VIVENDI FR VIV FP 201.38 $5,022.87
49446R109 KIMCO REALTY CORP US KIM 790.79 $12,929.36
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 586,379.35 $650,912.36
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 406,981.67 $401,665.98
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 36,356.42 $32,857.11
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 24,237.61 $22,965.14
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 32,467.89 $33,198.42
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 20,349.08 $20,349.08
5107401 BEIERSDORF AG DE BEI GR 188.13 $20,195.31
5176177 ORANGE FR ORA FP 408.23 $7,017.63
5253973 HERMES INTERNATIONAL FR RMS FP 4.34 $2,350.69
5263574 FLSMIDTH & CO A/S DK FLS DC 50.51 $2,533.95
529043101 LEXINGTON REALTY TRUST US LXP 1,582.03 $13,890.19
531172104 LIBERTY PROPERTY TRUST US LPT 674.2 $30,534.65
5330047 DASSAULT SYSTEMES SA FR DSY FP 29.71 $3,572.50
53815P108 LIVERAMP HOLDINGS INC US RAMP 11,776.71 $557,038.44
5458314 AKZO NOBEL NL AKZA NA 385.16 $32,366.11
5474008 BANKINTER S.A. ES BKT SM 2,411.83 $20,193.92
550021109 LULULEMON - ADR CA LULU 6,230.07 $825,795.98
5505072 KERING FR KER FP 16.91 $7,362.31
554382101 THE MACERICH CO US MAC 119.57 $6,012.96
5545670 JUNGHEINRICH AG DE JUN3 GR 383.09 $12,804.17
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 214,059.47 $226,464.50
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 35,027.62 $33,101.10
5596991 UCB SA BE UCB BB 151.32 $12,752.23
5669354 REPSOL SA ES REP SM 1,817.4 $31,307.26
5671519 WOLTERS KLUWER NL WKL NA 146.98 $8,885.61
5671735 SANOFI-AVENTIS FR SAN FP 235.66 $21,365.10
5701513 ELISA OYJ FI ELISA FH 214.18 $8,599.31
5713422 METSO OYJ FI METSO FH 491.9 $14,078.38
5727973 SIEMENS AG-REG DE SIE GR 218.75 $25,456.74
57636Q104 MASTERCARD INC-CLASS A US MA 5,907.26 $1,187,772.34
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 24,237.61 $24,140.66
5852842 ACCOR SA FR AC FP 3.22 $142.94
58933Y105 MERCK & CO INC US MRK 6,216.47 $493,215.11
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 20,349.08 $17,907.19
594918104 MICROSOFT CORP US MSFT 9,240.68 $1,024,699.55
59522J103 MID-AMERICA APARTMENT COMM US MAA 280.28 $29,026.08
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 2.51 $17,156.27
5966516 SOCIETE GENERALE FR GLE FP 168.46 $6,186.60
5980613 GIVAUDAN - REG CH GIVN SW 4.12 $10,160.05
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 16,556.85 $744,727.02
6136749 OBIC CO LTD JP 4684 JP 246.91 $21,410.61
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 681,063.66 $676,647.53
6175076 KT&G CORP KR 033780 KS 101.03 $9,374.25
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 329.21 $22,556.20
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 48,475.22 $48,596.41
6264189 NCSOFT CORP KR 036570 KS 29.71 $13,627.07
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 32,241.28 $28,694.74
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 23,498 $20,114.34
6307200 EISAI CO LTD JP 4523 JP 164.61 $15,157.76
6356934 FANUC LTD JP 6954 JP 82.3 $14,155.41
637417106 NATIONAL RETAIL PROPERTIES US NNN 296.29 $14,832.28
637870106 NATIONAL STORAGE AFFILIATES US NSA 259.71 $7,264.00
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 20,122.47 $20,223.08
64110W102 NETEASE.COM INC- ADR CN NTES 36.89 $8,377.31
6441506 HOYA CORP JP 7741 JP 246.91 $15,090.89
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 122.29 $14,445.74
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 160 $15,610.57
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 332.8 $19,022.89
6482903 KANAMOTO CO LTD JP 9678 JP 416.05 $12,271.01
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 85,259.84 $85,191.30
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 111,881.98 $111,584.05
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 116,801.99 $116,283.04
6490809 KIKKOMAN CORP JP 2801 JP 333.74 $19,536.75
6490995 KEYENCE CORP JP 6861 JP 86.84 $47,302.98
6518808 LION CORP JP 4912 JP 672.02 $13,277.66
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 7,543.22 $14,988.87
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 949.17 $832.76
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 338.28 $18,382.92
6642387 YAMAHA CORP JP 7951 JP 420.58 $18,133.73
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 48,475.22 $47,990.47
6683449 KANGWON LAND INC KR 035250 KS 344.24 $9,911.16
66987V109 NOVARTIS AG- REG CH NVS 14,945.52 $1,367,963.12
6742340 SHANDONG WEIGAO CN 1066 HK 13,349.74 $12,585.87
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 758.85 $13,691.58
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,073.15 $7,126.98
6776606 SANTEN PHARMACEUTICAL CO LTD JP 4536 JP 585.18 $10,053.03
6791591 SECOM CO LTD JP 9735 JP 86.84 $7,353.76
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 158,780.63 $157,438.73
6865504 SUZUKI MOTOR CORP JP 7269 JP 416.05 $20,757.78
6885074 TERUMO CORP JP 4543 JP 338.28 $19,947.28
6895200 TOHO CO LTD JP 9602 JP 255.97 $8,919.13
6911485 UNICHARM CORP JP 8113 JP 425.11 $13,312.83
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 10,057.62 $19,441.31
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 32,467.89 $32,224.38
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 790.87 $18,025.96
6985112 YAKULT HONSHA CO LTD JP 2267 JP 251.44 $19,016.36
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 425.11 $7,841.77
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 34,113.94 $33,175.81
7021963 DEUTSCHE BOERSE AG DE DB1 GR 84.34 $10,803.62
7062713 SODEXO FR SW FP 88 $9,107.58
7088429 AXA SA FR CS FP 450.52 $10,971.14
7103065 NOVARTIS AG-REG CH NOVN SW 386.07 $35,248.84
7103526 PEUGEOT SA FR UG FP 104.92 $2,308.41
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 121.61 $31,566.78
7110902 TECAN GROUP AG-REG CH TECN SW 29.26 $6,026.42
7123870 NESTLE SA-REGISTERED CH NESN SW 9,602.58 $819,225.25
7133608 EQUINOR ASA NO EQNR NO 802.08 $18,788.65
713448108 PEPSICO INC US PEP 6,227.39 $759,367.72
7145056 ENI SPA IT ENI IM 1,081.61 $17,452.25
71943U104 PHYSICIANS REALTY TRUST US DOC 2,077.76 $37,004.98
7212477 ESSILORLUXOTTICA FR EL FP 50.51 $6,386.89
7262610 CREDIT AGRICOLE SA FR ACA FP 294.4 $3,658.85
729640102 PLYMOUTH INDUSTRIAL REIT INC US 630.3 $7,948.03
7309681 BNP PARIBAS FR BNP FP 256.69 $12,911.04
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 28,352.75 $28,317.31
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 101.03 $3,754.97
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 713,078.33 $676,858.07
74340W103 PROLOGIS US PLD 1,035.43 $69,725.77
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 435,442.76 $446,058.85
74460D109 PUBLIC STORAGE INC US PSA 206.21 $43,976.38
74736K101 QORVO INC US QRVO 19,118.08 $1,258,161.12
756109104 REALTY INCOME CORP US O 144.26 $9,245.40
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,070.44 $391,404.72
76131D103 RESTAURANT BRANDS INTERN CA QSR 193.6 $11,292.81
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 32,694.5 $33,021.45
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 593.38 $36,807.25
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 130.29 $10,726.67
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,388.69 $408,011.40
78442PGC4 SLM CORP 5.12500 04/05/2022 US 32,241.28 $31,596.45
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 314,924.62 $308,449.33
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 140,945.99 $140,306.06
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 306,879.6 $306,120.69
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 641,725.17 $675,519.77
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 467,004.2 $452,127.23
806857108 SCHLUMBERGER LTD NL SLB 8,525.09 $384,481.45
808513105 CHARLES SCHWAB CORP/THE US SCHW 7,936.96 $355,575.71
81141R100 SEA LTD - ADR SG SE 666.16 $8,886.57
81211K100 SEALED AIR CORP US SEE 14,783.44 $540,039.05
812578102 SEATTLE GENETICS INC US SGEN 8,720.69 $545,740.97
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 113,169.74 $106,777.46
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 92,327.34 $80,824.83
81762P102 SERVICENOW INC US NOW 2,269.91 $420,545.90
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 21,995.14 $20,455.48
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 28,352.75 $26,580.70
828806109 SIMON PROPERTY GROUP INC US SPG 506.84 $94,115.48
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 46,254.35 $45,789.29
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 54,928.71 $52,980.36
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 11,389.71 $11,346.81
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 62,242.8 $61,770.89
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 136,500.18 $135,730.21
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 33,760.01 $33,461.73
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 105,701.85 $104,573.08
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.87800 12/01/2023 US 2,406.66 $2,404.26
84265V105 SOUTHERN COPPER CORPORATION US SCCO 508.81 $17,034.93
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 444,126.26 $451,705.71
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 36,227.67 $34,733.28
85254J102 STAG INDUSTRIAL INC US STAG 669.86 $17,945.58
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.52650 11/15/2027 US 244,429.93 $244,460.56
862121100 STORE CAPITAL CORP US STOR 288.97 $8,657.43
866674104 SUN COMMUNITIES US SUI 353.9 $36,841.19
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,208 $18,434.11
874080104 TAL EDUCATION GROUP - ADR CN TAL 256.24 $7,192.53
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 3,615.91 $3,601.48
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 28,352.75 $26,297.17
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 20,122.47 $18,015.65
88650V208 TIER REIT INC US TIER 1,280.71 $30,148.02
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 204,665.47 $198,717.93
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 182,303.49 $175,135.97
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 189,166.83 $179,946.05
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,805.32 $34,373.11
902653104 UDR INC US UDR 866.22 $36,918.24
903002103 UMH PROPERTIES INC US UMH 650.87 $8,480.86
904767704 UNILEVER PLC - ADR GB UL 12,335.65 $669,702.32
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 708,706.42 $926,855.11
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,577,092.69 $1,928,365.45
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 514,560.4 $461,235.06
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 2,202,238.49 $1,887,301.19
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,504,124.36 $1,416,814.63
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 268,853.06 $258,109.44
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 1,987,602.29 $1,946,452.72
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 1,841,910.31 $1,835,147.04
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 4,089,224.35 $4,009,622.90
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 99,029.66 $93,969.86
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,100,273.68 $1,915,269.10
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912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 495,198.12 $476,946.13
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,962,487.12 $1,874,251.86
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,985,789.39 $1,892,705.52
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 45.32 $43.98
91704F104 URBAN EDGE PROPERTIES US UE 1,437.54 $28,664.61
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92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 633,948.12 $661,317.00
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,713.88 $309,851.48
92826C839 VISA INC - CLASS A SHARES US V 7,261.96 $1,029,091.87
929042109 VORNADO REALTY TRUST US VNO 473.92 $34,103.34
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 28,352.75 $25,659.24
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 32,014.66 $32,494.88
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948741103 WEINGARTEN REALTY INVESTORS US WRI 746.88 $21,554.95
95040Q104 WELLTOWER INC. US WELL 333.78 $24,142.27
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 36,356.42 $36,163.73
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 28,352.75 $25,409.73
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 364,542.83 $336,986.28
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B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 1,421.81 $14,140.87
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B02J639 ADMIRAL GROUP PLC GB ADM LN 349.49 $9,300.24
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B1YXBJ7 AIR LIQUIDE FR AI FP 92.57 $11,203.57
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 338.28 $12,606.02
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 151.32 $12,595.84
B283W97 CAIXABANK S.A ES CABK SM 4,795.07 $19,807.73
B292SM8 MEGACABLE HOLDINGS-CPO MX MEGACPO MM 4,032.11 $18,383.84
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 2,279.11 $4,339.85
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 41,981.64 $31,614.60
B3NB1P2 SUNCOR ENERGY INC CA SU CN 579.67 $18,690.55
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B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 53,692.54 $41,146.03
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 82.3 $3,503.88
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 709,164.88 $32,409.66
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 5,164.78 $4,077.27
B4R2R50 JULIUS BAER CH BAER SW 501.52 $20,228.83
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 507.41 $5,605.56
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 25,687.93 $8,118.56
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 93,477.04 $68,293.63
B4YVF56 BRENNTAG AG DE BNR GR 6.16 $285.90
B607XS1 VERMILION ENERGY INC CA VET CN 698.52 $17,380.92
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,074,516.29 $52,395.06
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 2,718.21 $28,215.21
B63QM77 NEXON CO LTD JP 3659 JP 2,044.01 $24,302.05
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 136,372.35 $5,904.74
B8FMRX8 COLOPLAST-B DK COLOB DC 185.37 $17,698.39
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 667.49 $4,888.35
BB22L96 KION GROUP AG DE KGX GR 332.8 $18,833.11
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BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 512.02 $13,194.87
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 338.28 $3,762.41
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 21,851.95 $9,555.24
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 152,430.25 $148,619.49
BD9Y9B7 BASIC-FIT NV NL BFIT NA 437.49 $13,135.79
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 21,670.66 $8,924.84
BDXL6S0 UK TREASURY BILL GBP 0.00000 01/28/2019 GB 59,658.68 $75,936.16
BDZV116 EPIROC AB-A SE EPIA SS 1,766.88 $14,476.70
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 1,001.23 $4,375.69
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 155,541.07 $142,320.08
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 203.23 $34,934.69
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 923.46 $6,734.30
BG7ZWY7 AMBEV SA BR ABEV3 BZ 3,021.82 $13,221.93
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,437.3 $14,530.26
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 27,703.79 $21,147.33
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 22,724.13 $908,479.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,366.95 $14,696.89
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 15,367.48 $472,320.06
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 754.32 $20,812.43
BSQXJ01 THULE GROUP AB/THE SE THULE SS 944.49 $17,691.62
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 7,134.61 $17,673.75
BYQ32R1 NEMAK SAB DE CV MX 17,755.66 $12,727.64
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 33,555.63 $14,133.30
BYXS699 QIAGEN N.V. NL QIA GR 434.55 $15,377.91
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 12,793.51 $982,930.79
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 1,754.7 $8,159.15
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 148.71 $9,268.11
BZ3C3Q4 BANKIA SA ES BKIA SM 6,006.59 $19,882.03
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 1,091.69 $9,132.22
G02602103 AMDOCS LTD GG DOX 610.78 $39,645.81
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 284.14 $11,274.48
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 269.03 $13,058.92
G27358103 DESPEGAR.COM CORP AR DESP 357.98 $5,348.24
G3157S106 ENSCO INTERNATIONAL INC US ESV 30,161.38 $171,015.03
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 44,586.69 $46,147.23
G5960L103 MEDTRONIC INC IE MDT 11,726.51 $1,143,686.05
G84720104 STERIS PLC GB STE 117.26 $13,963.73
G97822103 PERRIGO CO PLC IE PRGO 465.62 $28,998.71
H8817H100 TRANSOCEAN LTD US RIG 19,353.05 $179,596.31
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 164.12 $18,349.84
N22717107 CORE LABORATORIES N.V. NL CLB 146.98 $12,215.16
N47279109 INTERXION HOLDING NV NL INXN 10,102.78 $629,100.25
N72482123 QIAGEN N.V. ADR NL QGEN 301.28 $10,677.20
USD US DOLLAR US 969,700.46 $969,700.46

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series and Manning & Napier Fund, Inc. Pro-Blend® Moderate Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Extended Series and Manning & Napier Fund, Inc. Blended Asset Moderate Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Distributions

  • Target 2020 Series Class R Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 Distributions
  • Tax Letter
  • Fourth Quarter 2018 Distribution Estimates

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).


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