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 26% - 66%.

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 2025
  • Who 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

$12.27

Daily $ Change

$0.12

Daily % Change

0.98%

as of 04/02/2020

Ticker

MTOAX

CUSIP

56382P419

Inception Date

06/25/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

Important Documents

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

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
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 02/29/2020

YTD

-0.30%

1 Year

11.44%

3 Year

6.87%

5 Year

4.36%

10 Year

---

Inception
(06/25/2012)

7.50%

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 1.10%
Net 0.73%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 14.69%
GOVERNMENT AGENCY 11.57%
TREASURY BONDS 4.17%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.87%
TSY INFL IX N/B 2.00000 01/15/2026 2.14%
NEXON CO LTD 1.52%
FACEBOOK INC -A 1.51%
TSY INFL IX N/B 0.50000 04/15/2024 1.43%
MASTERCARD INC-CLASS A 1.25%
NOVARTIS AG- REG 1.24%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 02/29/2020

Bonds 61.09%
Stocks 37.24%
Cash 1.67%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities 14.10%
Small Capitalization 0.44%
Mid Capitalization 0.83%
Large Capitalization 21.87%
Long Term Fixed Income 16.46%
Intermediate Term Fixed Income 36.28%
Short Term Fixed Income 8.35%
Cash 1.67%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 6,437.47 $6,712.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 366,502.31 $413,060.77
00287Y109 ABBVIE INC US ABBV 254.7 $21,830.52
004239109 ACADIA REALTY TRUST US AKR 513.67 $11,732.24
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 6,957.1 $6,798.48
00507V109 ACTIVISION INC US ATVI 8,271.8 $480,839.67
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 322,998.9 $356,182.46
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,396.39 $9,889.70
008492100 AGREE REALTY CORP US ADC 138.46 $9,944.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 50.62 $7,688.07
01609W102 ALIBABA GROUP - ADR CN BABA 1,572.57 $327,093.97
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 286,452.59 $308,551.60
020002101 ALLSTATE CORPORATION US ALL 60.35 $6,351.91
02079K107 ALPHABET INC-CL C US GOOG 214.79 $287,674.49
02079K305 ALPHABET INC-CL A US GOOGL 214.79 $287,657.30
023135106 AMAZON.COM INC US AMZN 308.39 $580,935.33
02319V103 AMBEV SA-ADR BR ABEV 6,679.59 $21,441.48
0237400 DIAGEO PLC GB DGE LN 8,187.61 $292,130.63
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 507.23 $22,034.21
0263494 BAE SYSTEMS PLC GB BA/ LN 6,834.91 $54,064.71
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,126.5 $29,165.12
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 16,353.5 $17,009.18
03027X100 AMERICAN TOWER REIT INC US AMT 1,264.35 $286,753.72
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 374,180.93 $412,205.67
03064D108 AMERICOLD REALTY TRUST US COLD 686.4 $21,051.89
031162100 AMGEN INC US AMGN 111.45 $22,259.78
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 6,437.47 $4,377.48
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 6,437.47 $4,409.67
03748R754 APARTMENT INVT & MGMT CO -A US AIV 603.36 $28,864.85
038222105 APPLIED MATERIALS INC US AMAT 156.91 $9,119.62
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 113.18 $4,261.39
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 9,396.39 $9,560.83
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 6,437.47 $6,646.69
053484101 AVALONBAY COMMUNITIES INC US AVB 226.31 $45,395.08
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 182,010 $183,228.20
055622104 BP PLC-SPONS ADR GB BP 3,642.1 $113,961.43
05722G100 BAKER HUGHES CO US BKR 218.08 $3,508.87
060505104 BANK OF AMERICA CORP US BAC 835.24 $23,804.41
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 568,026.61 $619,683.90
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,206.22 $661,570.56
086516101 BEST BUY INC US BBY 85.5 $6,468.09
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,300.19 $388,607.79
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,177.62 $36,781.25
097023105 BOEING CO US BA 76.22 $20,967.89
09857L108 BOOKING HOLDINGS INC US BKNG 142.26 $241,224.39
101121101 BOSTON PROPERTIES INC US BXP 252.82 $32,598.21
105368203 BRANDYWINE REALTY TRUST US BDN 1,793.95 $24,361.84
110122108 BRISTOL MYERS SQUIBB CO US BMY 279.31 $16,496.33
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 581.15 $23,129.77
11135F101 BROADCOM INC US AVGO 56.38 $15,371.49
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 6,437.47 $3,411.86
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 6,437.47 $6,509.89
12503M108 CBOE GLOBAL MARKETS INC US CBOE 2,531.26 $288,563.72
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 325,686.18 $329,813.08
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 52.35 $3,606.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 58,704.45 $60,402.17
12572Q105 CME GROUP INC US CME 1,414.77 $281,285.47
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 209,242.81 $215,018.54
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 88,206.7 $88,160.62
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 261,832.07 $271,098.56
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 142,298.49 $146,458.26
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 6,437.47 $6,083.41
126650100 CVS HEALTH CORP US CVS 224.35 $13,276.74
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,916.02 $10,461.41
133131102 CAMDEN PROPERTY TRUST US CPT 340.94 $36,132.94
13321L108 CAMECO CORP CA CCJ 4,048.79 $35,143.50
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 6,437.47 $6,381.14
149123101 CATERPILLAR INC US CAT 96.66 $12,009.46
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 86,414.46 $87,680.76
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 6,437.47 $6,449.54
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 155,501.74 $156,178.92
166764100 CHEVRON CORP US CVX 1,280.88 $119,557.75
17275R102 CISCO SYSTEMS INC US CSCO 566.92 $22,637.14
172967424 CITIGROUP INC US C 239 $15,166.65
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 160,099.43 $277,167.15
191216100 COCA COLA CO/THE US KO 10,421.08 $557,423.61
194162103 COLGATE-PALMOLIVE CO US CL 173.61 $11,730.64
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 297,249.01 $321,227.34
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 201,458.19 $206,352.15
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 408.95 $19,478.44
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 9,916.02 $10,510.99
205887102 CONAGRA BRAND INC. US CAG 130.44 $3,481.48
20825C104 CONOCOPHILLIPS US COP 2,054.61 $99,484.36
222795502 COUSINS PROPERTIES INC US CUZ 815.93 $29,120.61
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 6,957.1 $7,165.82
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 215,438.51 $216,540.89
22822V101 CROWN CASTLE INTL CORP US CCI 132.03 $18,918.02
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 47,892.19 $50,475.19
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,601.15 $47,790.77
231021106 CUMMINS INC US CMI 43.17 $6,530.56
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,538.63 $11,371.38
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 9,916.02 $7,998.76
253868103 DIGITAL REALTY TRUST INC US DLR 40.7 $4,888.88
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 335,873.84 $395,968.91
256746108 DOLLAR TREE STORES INC US DLTR 3,232.72 $268,412.49
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 12,874.94 $13,225.14
25960P109 DOUGLAS EMMETT INC US DEI 532.98 $20,349.29
260557103 DOW INC US DOW 129.6 $5,237.19
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 118,356.8 $123,570.42
262006208 DREYFUS GVT CSH MANAGEMENT US 1,181,528.35 $1,181,528.35
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,926.49 $161,828.80
277432100 EASTMAN CHEM CO US EMN 51.03 $3,138.64
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 2,069.38 $35,814.23
285512109 ELECTRONIC ARTS US EA 4,019.19 $407,425.04
2866857 LUNDIN MINING CORP CA LUN CN 2,330.82 $11,895.03
291011104 EMERSON ELEC CO US EMR 144.67 $9,274.63
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 253,745.6 $305,794.38
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 162,817.2 $164,688.61
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 9,916.02 $10,312.86
29444U700 EQUINIX INC US EQIX 789.59 $452,276.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 199 $13,597.60
29476L107 EQUITY RESIDENTIAL US EQR 303.72 $22,809.10
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 700.71 $16,053.19
297178105 ESSEX PROPERTY TRUST INC US ESS 61.54 $17,438.80
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 295,892 $298,763.47
30225T102 EXTRA SPACE STORAGE INC US EXR 70.97 $7,122.66
30287EAE0 FREMF 2014-K41 B FLT 3.83254 11/25/2047 US 50,404.33 $54,772.04
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 11,542,068.15 $27,387.02
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 48,949.36 $49,715.66
30303M102 FACEBOOK INC -A US FB 5,454.12 $1,049,753.58
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,163.34 $12,994.50
311900104 FASTENAL CO US FAST 165.39 $5,659.80
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 14,363.06 $16,894.60
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 15,301.51 $17,601.53
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 15,342.8 $17,625.10
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 15,116.31 $17,419.34
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 113,893.77 $123,819.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 19,020.15 $21,876.38
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 67,167.16 $73,202.74
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 11,034.15 $11,996.64
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 16,250.01 $17,710.37
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 173,065.71 $180,449.23
3131YBKP2 FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 US 276,583.08 $292,327.96
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 267,617.82 $283,165.88
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 20,450.79 $22,120.26
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 124,588.74 $134,686.87
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 189,594.14 $197,774.83
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 110,785.62 $118,457.20
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 263,135.1 $288,009.29
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 153,995.91 $166,954.32
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 188,058.18 $194,971.12
3133G7QL0 FEDERAL NATL MTG ASSN QN1359 3.00000 01/01/2035 US 240,093.66 $248,647.09
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 175,059.06 $186,289.79
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 126,851.16 $135,337.21
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 50.62 $5,889.06
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 1,028,829.38 $3,636.91
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 561,372.8 $10,034.60
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 895,871.85 $24,546.71
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 4,633,333.08 $24,318.05
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 122,481.45 $125,653.94
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 98,864.14 $101,376.87
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 49,646.63 $58,173.87
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 99,166.99 $107,715.79
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 136,594.9 $150,676.44
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 117,586.95 $129,526.15
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 81,374.43 $88,370.19
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 167,673.24 $191,587.66
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 359,807.21 $386,432.14
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 21,443.57 $23,464.00
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 34,178.58 $39,313.85
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 60,912.05 $64,263.95
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 353,521.24 $376,665.22
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 56,151.39 $60,009.64
3140J9SN2 FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 US 529,674.64 $549,170.55
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 176,277.66 $188,314.24
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 290,779.1 $303,368.23
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 190,972.37 $213,666.36
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 34,039.8 $36,956.48
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 186,888.26 $200,645.13
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 114,360.73 $124,233.81
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 261,816.12 $274,289.06
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 269,154.13 $286,622.96
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 5,206.81 $5,270.39
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 6,117.49 $6,184.19
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 71,678.52 $79,026.37
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 60,653.42 $66,021.58
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 39,998.28 $43,574.00
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 275,322.12 $290,289.13
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 233,569.19 $252,994.53
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 124,262.44 $130,290.04
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 236,726.35 $248,127.90
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 105,216.18 $110,760.85
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 130,586.32 $137,818.08
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 349,692.97 $363,044.72
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 17,291.27 $20,324.88
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 11,080.51 $12,768.44
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 9,396.39 $10,430.00
316773100 FIFTH THIRD BANCORP US FITB 198.45 $4,842.06
32054K103 FIRST INDUSTRIAL REALTY TR US FR 260.05 $10,012.08
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 9,916.02 $9,959.46
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 184,088.53 $195,134.17
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,916.02 $9,742.49
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 8,876.76 $9,298.41
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 9,916.02 $10,309.69
35563BAJ9 FREMF 2014-K37 B FLT 4.55929 01/25/2047 US 156,114.41 $172,271.66
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 57,665.85 $57,913.03
364760108 GAP INC US GPS 141.47 $2,027.25
369550108 GENERAL DYNAMICS CORP US GD 44.35 $7,082.15
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 288,848.87 $282,774.38
370334104 GENERAL MLS INC US GIS 158.05 $7,744.62
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 9,916.02 $8,527.78
372460105 GENUINE PARTS CO US GPC 52.31 $4,563.87
374297109 GETTY REALTY CORP US GTY 293.28 $8,311.57
375558103 GILEAD SCIENCES INC US GILD 255.25 $17,704.39
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 13,394.58 $13,193.66
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 194,884.83 $200,687.08
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 17,582.11 $237,710.12
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 9,396.39 $9,537.06
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 6,957.1 $6,959.68
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 187.8 $20,353.63
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 124.51 $20,792.56
404119BX6 HCA INC 4.12500 06/15/2029 US 283,334.8 $310,901.88
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 3,478.55 $3,513.34
406216101 HALLIBURTON CO US HAL 14,084.3 $238,869.71
416515104 HARTFORD FINL SVCS US HIG 78.65 $3,928.42
421946104 HEALTHCARE REALTY TRUST INC US HR 587.08 $20,136.88
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 364.77 $11,358.98
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 957.77 $30,303.85
427866108 HERSHEY CO/THE US HSY 55.48 $7,988.67
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 99.8 $9,700.15
437076102 HOME DEPOT INC US HD 150.65 $32,817.33
438516106 HONEYWELL INTERNATIONAL INC US HON 113.85 $18,462.78
44107P104 HOST MARRIOTT CORP US HST 701.19 $10,153.30
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 9,916.02 $10,160.95
452308109 ILLINOIS TOOL WKS INC US ITW 64.14 $10,761.59
45337C102 INCYTE CORP US INCY 2,268.1 $171,037.58
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,916.02 $10,151.53
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 152.84 $14,051.79
458140100 INTEL CORP US INTC 632.06 $35,092.15
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,126.69 $278,962.89
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 150.86 $19,633.99
460146103 INTERNATIONAL PAPER CO US IP 89.11 $3,293.67
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 56,436.25 $56,124.45
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 44,181.91 $44,084.92
46187W107 INVITATION HOMES INC US INVH 1,608.55 $46,149.39
46625H100 JP MORGAN CHASE & CO US JPM 324.36 $37,661.43
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 50,339.74 $51,930.02
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 67,032.13 $68,215.22
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 286,452.59 $310,558.65
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 66,468.24 $68,528.15
4741844 MERCK KGAA DE MRK GR 4,934.41 $600,438.63
476405105 JERNIGAN CAPITAL INC US JCAP 1,294.19 $23,191.95
478160104 JOHNSON & JOHNSON US JNJ 6,292.17 $846,170.87
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 12,874.94 $3,089.99
482480100 KLA-TENCOR CORPORATION US KLAC 47.44 $7,292.62
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 7,476.74 $7,850.57
487836108 KELLOGG CO US K 89.01 $5,382.47
493267108 KEYCORP US KEY 268.74 $4,393.96
49427F108 KILROY REALTY CORP US KRC 86.07 $6,256.34
494368103 KIMBERLY CLARK CORP US KMB 78.96 $10,358.61
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 308,045.42 $412,868.38
500255104 KOHLS CORP US KSS 59.17 $2,316.39
50050N103 KONTOOR BRANDS INC US KTB 5.98 $201.81
501044101 KROGER CO US KR 167.24 $4,704.51
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 12,874.94 $13,438.22
5107401 BEIERSDORF AG DE BEI GR 303.15 $32,012.40
512807108 LAM RESEARCH CORP US LRCX 26.96 $7,909.88
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,916.02 $7,113.51
53223X107 LIFE STORAGE INC US LSI 64.53 $6,963.82
539830109 LOCKHEED MARTIN CORP US LMT 47.24 $17,471.24
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 6,437.47 $4,200.45
550021109 LULULEMON - ADR CA LULU 1,511.48 $328,611.37
56585A102 MARATHON PETROLEUM CORP US MPC 173.93 $8,247.65
57636Q104 MASTERCARD INC-CLASS A US MA 3,007.78 $873,007.97
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 79.06 $4,397.47
58933Y105 MERCK & CO INC US MRK 2,457.76 $188,165.73
594918104 MICROSOFT CORP US MSFT 3,638.02 $589,395.57
595112103 MICRON TECHNOLOGY INC US MU 15,226.44 $800,301.93
59522J103 MID-AMERICA APARTMENT COMM US MAA 104.72 $13,535.76
60871R209 MOLSON COORS BREWING CO -B US TAP 62.57 $3,104.27
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 11,035.91 $582,695.91
615369105 MOODY'S CORPORATION US MCO 912.9 $219,122.56
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 6,957.1 $4,067.82
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 13,394.58 $13,055.69
6356934 FANUC LTD JP 6954 JP 128.75 $21,142.45
637417106 NATIONAL RETAIL PROPERTIES US NNN 229.79 $11,684.64
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 9,916.02 $10,012.21
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 6,437.47 $6,791.53
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 169,405.09 $166,716.73
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 95,503.74 $96,192.71
64032XAA3 NSLT 2012-3A A MTGE FLT 2.32675 02/25/2045 US 206,103.28 $204,676.07
64033GAA9 NSLT 2013-5A A MTGE FLT 2.25675 01/25/2037 US 277,497.47 $274,277.28
64110D104 NETAPP INC US NTAP 55.69 $2,601.77
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 49,887.68 $52,808.85
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 69,559.19 $73,473.61
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 74,389.85 $78,290.93
6490995 KEYENCE CORP JP 6861 JP 79.96 $25,532.85
6642321 NIKON CORP JP 7731 JP 1,193.1 $12,187.25
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 12,874.94 $9,784.96
66987V109 NOVARTIS AG- REG CH NVS 10,332.66 $867,530.48
670346105 NUCOR CORP US NUE 99.24 $4,103.51
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 6,437.47 $6,566.87
67066G104 NVIDIA CORP US NVDA 1,128 $304,640.09
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 9,916.02 $9,929.14
6742340 SHANDONG WEIGAO CN 1066 HK 28,659.83 $37,397.57
674599105 OCCIDENTAL PETROLEUM CORP US OXY 137.21 $4,492.38
675232102 OCEANEERING INTL INC US OII 15,296.52 $161,225.31
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 9,916.02 $9,246.69
681936100 OMEGA HEALTHCARE INVS INC US OHI 333.46 $13,205.19
6821506 SONY CORP FIRST SECTION JP 6758 JP 657.32 $40,522.22
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 184,290.42 $187,413.55
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,355.87 $64,220.52
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 182,346.36 $188,704.05
7021963 DEUTSCHE BOERSE AG DE DB1 GR 339.82 $53,471.18
70450Y103 PAYPAL HOLDINGS INC US PYPL 2,619.48 $282,877.90
7123870 NESTLE SA-REGISTERED CH NESN SW 6,406.17 $659,232.14
713448108 PEPSICO INC US PEP 4,191.96 $553,464.94
717081103 PFIZER INC US PFE 791.43 $26,449.50
718546104 PHILLIPS 66 US PSX 79.34 $5,939.60
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,916.02 $9,395.43
71943U104 PHYSICIANS REALTY TRUST US DOC 1,217.3 $22,958.36
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 444.93 $8,351.35
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 486,937.63 $533,228.13
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 9,916.02 $10,263.09
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 6,437.47 $6,628.67
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 178,531.45 $184,279.63
74340W103 PROLOGIS US PLD 862.99 $72,732.97
74460D109 PUBLIC STORAGE INC US PSA 152.38 $31,865.24
74834L100 QUEST DIAGNOSTICS INC US DGX 39.97 $4,238.93
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 9,916.02 $10,510.99
756109104 REALTY INCOME CORP US O 155.34 $11,244.82
758849103 REGENCY CENTERS CORP US REG 212.39 $12,199.89
7591EP100 REGIONS FINANCIAL CORP. US RF 235.8 $3,187.97
76131D103 RESTAURANT BRANDS INTERN CA QSR 851 $49,783.74
7698356 GETINGE AB-B SHS SE GETIB SS 1,710.57 $28,686.55
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,916.02 $9,946.47
773903109 ROCKWELL AUTOMATION INC US ROK 25.61 $4,698.62
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,528.01 $112,572.46
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 3,599.69 $258,025.51
78409V104 S&P GLOBAL INC US SPGI 734.29 $195,255.66
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,188.22 $314,985.73
78442GQJ8 SLMA 2005-7 A4 FLT 1.94413 10/25/2029 US 132,077.41 $130,819.32
78442PGC4 SLM CORP 5.12500 04/05/2022 US 12,874.94 $13,132.44
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 270,459.85 $271,812.15
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 122,043.61 $123,320.99
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 46,949.63 $47,485.75
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 29,181.6 $29,396.02
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 408,966.45 $474,715.69
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 377,298.72 $419,386.52
806857108 SCHLUMBERGER LTD NL SLB 10,434.68 $282,675.50
81141R100 SEA LTD - ADR SG SE 480.88 $21,668.34
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 72,622.94 $74,351.58
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 58,316.79 $57,108.65
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 261,132.11 $268,415.34
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 190,795.09 $196,956.05
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 60,503.43 $62,242.90
81762P102 SERVICENOW INC US NOW 442.45 $144,280.03
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,916.02 $8,230.30
828806109 SIMON PROPERTY GROUP INC US SPG 262.49 $32,307.68
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 38.19 $3,933.39
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 4,690.05 $4,691.57
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 36,589.32 $37,402.59
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 5,908.28 $5,930.70
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 24,684.18 $24,812.07
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 119,125.31 $120,373.32
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 92,131.29 $92,985.79
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 22,780.08 $22,842.30
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 137,626.2 $142,672.74
835699307 SONY CORP SPONSORED ADR JP SNE 8,575.15 $533,374.60
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 351,145.06 $351,671.78
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 13,394.58 $13,662.47
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,437.47 $6,832.41
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,916.02 $11,250.52
85254J102 STAG INDUSTRIAL INC US STAG 615.95 $17,234.24
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,916.02 $9,829.26
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 185,097.88 $184,151.03
862121100 STORE CAPITAL CORP US STOR 559.77 $18,394.11
866674104 SUN COMMUNITIES US SUI 219.87 $33,613.77
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 6,437.47 $5,793.72
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 573.69 $6,281.87
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 159,792.49 $163,253.91
871829107 SYSCO CORP US SYY 127.52 $8,499.40
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 4,999.41 $5,015.07
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,957.1 $4,869.97
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 278,456.22 $315,777.69
882508104 TEXAS INSTRUMENTS INC US TXN 161.47 $18,430.00
88579Y101 3M CO US MMM 109.57 $16,352.24
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,701.58 $116,546.19
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 118,539.95 $120,075.69
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 119,390.74 $121,868.98
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 105,443.84 $106,013.94
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 3,478.55 $3,513.34
89417E109 TRAVELLERS COS INC US TRV 45.25 $5,421.76
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 141,048.81 $142,241.40
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 147,844.33 $152,460.70
89832Q109 TRUIST FINANCIAL CORP US TFC 262.2 $12,098.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 16,353.5 $15,535.82
902494103 TYSON FOODS INC -CL A US TSN 69.92 $4,742.89
902653104 UDR INC US UDR 381.85 $17,175.72
902973304 U.S. BANCORP US USB 295.19 $13,708.58
903002103 UMH PROPERTIES INC US UMH 468.97 $6,804.74
904767704 UNILEVER PLC - ADR GB UL 9,801.5 $528,594.94
907818108 UNION PAC CORP US UNP 114.47 $18,293.75
911312106 UNITED PARCEL SERVICE US UPS 165.11 $14,941.20
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,310,614.23 $1,493,602.99
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 354,078.58 $406,926.03
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,193,099.01 $1,391,871.16
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,173,075.77 $1,512,672.05
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 964,049.14 $997,563.58
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 3,597,949.33 $3,826,475.32
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,998,117.52 $2,002,464.69
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,050,696.47 $1,108,279.56
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 2,581,098.11 $2,590,787.71
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 2,624,841.06 $2,716,402.89
913017109 UNITED TECHNOLOGIES CORP US UTX 137.71 $17,983.59
91704F104 URBAN EDGE PROPERTIES US UE 679.44 $11,006.98
918204108 VF CORP US VFC 95.97 $6,909.67
91913Y100 VALERO ENERGY US VLO 104.22 $6,904.63
92276F100 VENTAS INC US VTR 321.67 $17,296.15
92339V100 VEREIT INC US VER 1,305.15 $11,302.59
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 478,941.26 $639,802.67
92556H206 VIACOMCBS INC US VIAC 78.23 $1,925.27
92826C839 VISA INC - CLASS A SHARES US V 4,323.71 $785,877.78
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,916.02 $9,271.48
929042109 VORNADO REALTY TRUST US VNO 77.93 $4,175.39
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 135,865.42 $135,870.27
931142103 WAL MART STORES US WMT 353.83 $38,100.20
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 180.82 $8,274.38
94106L109 WASTE MANAGEMENT INC US WM 94.19 $10,437.45
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,916.02 $10,312.67
949746101 WELLS FARGO COMPANY US WFC 658.62 $26,904.79
95040Q104 WELLTOWER INC. US WELL 379.28 $28,377.53
958102105 WESTERN DIGITAL CORP US WDC 89.08 $4,949.44
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 9,396.39 $5,402.93
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 292,370.43 $306,831.96
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 34,850.38 $34,894.67
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 243.7 $12,416.54
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 13,394.58 $12,858.79
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,786.39 $49,029.54
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 3,077.87 $20,148.55
B1Y47Y7 GERRESHEIMER AG DE GXI GR 479.4 $34,559.23
B1Y9TB3 DANONE FR BN FP 809.06 $57,102.11
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 355,729.76 $18,022.88
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 43,286.95 $33,387.96
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 578,792.65 $29,311.32
B4YVF56 BRENNTAG AG DE BNR GR 685.75 $31,114.56
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 869,647.9 $44,304.19
B63QM77 NEXON CO LTD JP 3659 JP 66,951.99 $1,058,775.21
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 111,339.48 $6,052.88
B7KR2P8 EASY JET PLC GB EZJ LN 17,594.49 $253,983.01
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -17.01 -$9,609.99
BBG00RBW6Q94 MU US 02/28/20 C60 US -32.03 -$32.03
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -.8 -$15.99
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -32.14 -$11,248.43
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -17.91 -$9,529.39
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -35.51 -$4,226.05
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 665.83 $13,379.84
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 543.74 $6,768.70
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,047.25 $9,516.89
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 505.23 $22,371.98
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 925.21 $11,937.04
BJ2KSG2 AKZO NOBEL NL AKZA NA 413.33 $33,070.66
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 13,260.16 $672,352.64
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 7,266.8 $31,478.33
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,473.12 $46,936.40
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 10,045.95 $313,422.50
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 1,672.29 $11,260.45
BYXS699 QIAGEN N.V. NL QIA GR 844.88 $30,965.91
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 7,784.23 $449,779.82
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 6,627.09 $12,526.33
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,043.57 $28,885.90
G29183103 EATON CORP PLC US ETN 106.96 $9,703.71
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 200.95 $7,348.66
G5960L103 MEDTRONIC INC IE MDT 5,745.66 $578,415.48
G97822103 PERRIGO CO PLC IE PRGO 643.4 $32,614.10
H01301128 ALCON INC CH ALC 5,606.4 $343,672.41
H1467J104 CHUBB LTD CH CB 65.53 $9,504.18
N22717107 CORE LABORATORIES N.V. NL CLB 601.75 $16,150.88
N47279109 INTERXION HOLDING NV NL INXN 492.28 $41,789.62
N53745100 LYONDELLBASELL INDU-CL A US LYB 96.07 $6,865.28

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 2025 Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

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

$12.27

Daily $ Change

$0.12

Daily % Change

0.98%

as of 04/02/2020

Ticker

MTOAX

CUSIP

56382P419

Inception Date

06/25/2012

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

Important Documents

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

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
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 26% - 66%.

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 2025
  • Who 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 02/29/2020

YTD

-0.30%

1 Year

11.44%

3 Year

6.87%

5 Year

4.36%

10 Year

---

Inception
(06/25/2012)

7.50%

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 1.10%
Net 0.73%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.

Top Ten Investments

As of 02/29/2020

TREASURY NOTES 14.69%
GOVERNMENT AGENCY 11.57%
TREASURY BONDS 4.17%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.87%
TSY INFL IX N/B 2.00000 01/15/2026 2.14%
NEXON CO LTD 1.52%
FACEBOOK INC -A 1.51%
TSY INFL IX N/B 0.50000 04/15/2024 1.43%
MASTERCARD INC-CLASS A 1.25%
NOVARTIS AG- REG 1.24%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 02/29/2020

Bonds
61.09%
Stocks
37.24%
Cash
1.67%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities
14.10%
Small Capitalization
0.44%
Mid Capitalization
0.83%
Large Capitalization
21.87%
Long Term Fixed Income
16.46%
Intermediate Term Fixed Income
36.28%
Short Term Fixed Income
8.35%
Cash
1.67%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 6,437.47 $6,712.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 366,502.31 $413,060.77
00287Y109 ABBVIE INC US ABBV 254.7 $21,830.52
004239109 ACADIA REALTY TRUST US AKR 513.67 $11,732.24
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 6,957.1 $6,798.48
00507V109 ACTIVISION INC US ATVI 8,271.8 $480,839.67
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 322,998.9 $356,182.46
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,396.39 $9,889.70
008492100 AGREE REALTY CORP US ADC 138.46 $9,944.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 50.62 $7,688.07
01609W102 ALIBABA GROUP - ADR CN BABA 1,572.57 $327,093.97
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 286,452.59 $308,551.60
020002101 ALLSTATE CORPORATION US ALL 60.35 $6,351.91
02079K107 ALPHABET INC-CL C US GOOG 214.79 $287,674.49
02079K305 ALPHABET INC-CL A US GOOGL 214.79 $287,657.30
023135106 AMAZON.COM INC US AMZN 308.39 $580,935.33
02319V103 AMBEV SA-ADR BR ABEV 6,679.59 $21,441.48
0237400 DIAGEO PLC GB DGE LN 8,187.61 $292,130.63
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 507.23 $22,034.21
0263494 BAE SYSTEMS PLC GB BA/ LN 6,834.91 $54,064.71
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,126.5 $29,165.12
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 16,353.5 $17,009.18
03027X100 AMERICAN TOWER REIT INC US AMT 1,264.35 $286,753.72
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 374,180.93 $412,205.67
03064D108 AMERICOLD REALTY TRUST US COLD 686.4 $21,051.89
031162100 AMGEN INC US AMGN 111.45 $22,259.78
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 6,437.47 $4,377.48
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 6,437.47 $4,409.67
03748R754 APARTMENT INVT & MGMT CO -A US AIV 603.36 $28,864.85
038222105 APPLIED MATERIALS INC US AMAT 156.91 $9,119.62
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 113.18 $4,261.39
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 9,396.39 $9,560.83
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 6,437.47 $6,646.69
053484101 AVALONBAY COMMUNITIES INC US AVB 226.31 $45,395.08
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 182,010 $183,228.20
055622104 BP PLC-SPONS ADR GB BP 3,642.1 $113,961.43
05722G100 BAKER HUGHES CO US BKR 218.08 $3,508.87
060505104 BANK OF AMERICA CORP US BAC 835.24 $23,804.41
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 568,026.61 $619,683.90
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,206.22 $661,570.56
086516101 BEST BUY INC US BBY 85.5 $6,468.09
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,300.19 $388,607.79
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,177.62 $36,781.25
097023105 BOEING CO US BA 76.22 $20,967.89
09857L108 BOOKING HOLDINGS INC US BKNG 142.26 $241,224.39
101121101 BOSTON PROPERTIES INC US BXP 252.82 $32,598.21
105368203 BRANDYWINE REALTY TRUST US BDN 1,793.95 $24,361.84
110122108 BRISTOL MYERS SQUIBB CO US BMY 279.31 $16,496.33
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 581.15 $23,129.77
11135F101 BROADCOM INC US AVGO 56.38 $15,371.49
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 6,437.47 $3,411.86
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 6,437.47 $6,509.89
12503M108 CBOE GLOBAL MARKETS INC US CBOE 2,531.26 $288,563.72
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 325,686.18 $329,813.08
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 52.35 $3,606.62
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 58,704.45 $60,402.17
12572Q105 CME GROUP INC US CME 1,414.77 $281,285.47
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 209,242.81 $215,018.54
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 88,206.7 $88,160.62
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 261,832.07 $271,098.56
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 142,298.49 $146,458.26
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 6,437.47 $6,083.41
126650100 CVS HEALTH CORP US CVS 224.35 $13,276.74
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,916.02 $10,461.41
133131102 CAMDEN PROPERTY TRUST US CPT 340.94 $36,132.94
13321L108 CAMECO CORP CA CCJ 4,048.79 $35,143.50
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 6,437.47 $6,381.14
149123101 CATERPILLAR INC US CAT 96.66 $12,009.46
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 86,414.46 $87,680.76
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 6,437.47 $6,449.54
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 155,501.74 $156,178.92
166764100 CHEVRON CORP US CVX 1,280.88 $119,557.75
17275R102 CISCO SYSTEMS INC US CSCO 566.92 $22,637.14
172967424 CITIGROUP INC US C 239 $15,166.65
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 160,099.43 $277,167.15
191216100 COCA COLA CO/THE US KO 10,421.08 $557,423.61
194162103 COLGATE-PALMOLIVE CO US CL 173.61 $11,730.64
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 297,249.01 $321,227.34
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 201,458.19 $206,352.15
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 408.95 $19,478.44
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 9,916.02 $10,510.99
205887102 CONAGRA BRAND INC. US CAG 130.44 $3,481.48
20825C104 CONOCOPHILLIPS US COP 2,054.61 $99,484.36
222795502 COUSINS PROPERTIES INC US CUZ 815.93 $29,120.61
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 6,957.1 $7,165.82
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 215,438.51 $216,540.89
22822V101 CROWN CASTLE INTL CORP US CCI 132.03 $18,918.02
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 47,892.19 $50,475.19
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,601.15 $47,790.77
231021106 CUMMINS INC US CMI 43.17 $6,530.56
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,538.63 $11,371.38
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 9,916.02 $7,998.76
253868103 DIGITAL REALTY TRUST INC US DLR 40.7 $4,888.88
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 335,873.84 $395,968.91
256746108 DOLLAR TREE STORES INC US DLTR 3,232.72 $268,412.49
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 12,874.94 $13,225.14
25960P109 DOUGLAS EMMETT INC US DEI 532.98 $20,349.29
260557103 DOW INC US DOW 129.6 $5,237.19
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 118,356.8 $123,570.42
262006208 DREYFUS GVT CSH MANAGEMENT US 1,181,528.35 $1,181,528.35
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,926.49 $161,828.80
277432100 EASTMAN CHEM CO US EMN 51.03 $3,138.64
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 2,069.38 $35,814.23
285512109 ELECTRONIC ARTS US EA 4,019.19 $407,425.04
2866857 LUNDIN MINING CORP CA LUN CN 2,330.82 $11,895.03
291011104 EMERSON ELEC CO US EMR 144.67 $9,274.63
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 253,745.6 $305,794.38
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 162,817.2 $164,688.61
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 9,916.02 $10,312.86
29444U700 EQUINIX INC US EQIX 789.59 $452,276.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 199 $13,597.60
29476L107 EQUITY RESIDENTIAL US EQR 303.72 $22,809.10
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 700.71 $16,053.19
297178105 ESSEX PROPERTY TRUST INC US ESS 61.54 $17,438.80
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 295,892 $298,763.47
30225T102 EXTRA SPACE STORAGE INC US EXR 70.97 $7,122.66
30287EAE0 FREMF 2014-K41 B FLT 3.83254 11/25/2047 US 50,404.33 $54,772.04
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 11,542,068.15 $27,387.02
30291XAE2 FREMF 2014-K715 B FLT 3.97097 02/25/2046 US 48,949.36 $49,715.66
30303M102 FACEBOOK INC -A US FB 5,454.12 $1,049,753.58
30744W107 FARFETCH LTD - CLASS A GB FTCH 1,163.34 $12,994.50
311900104 FASTENAL CO US FAST 165.39 $5,659.80
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 14,363.06 $16,894.60
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 15,301.51 $17,601.53
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 15,342.8 $17,625.10
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 15,116.31 $17,419.34
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 113,893.77 $123,819.51
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 19,020.15 $21,876.38
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 67,167.16 $73,202.74
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 11,034.15 $11,996.64
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 16,250.01 $17,710.37
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 173,065.71 $180,449.23
3131YBKP2 FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 US 276,583.08 $292,327.96
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 267,617.82 $283,165.88
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 20,450.79 $22,120.26
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 124,588.74 $134,686.87
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 189,594.14 $197,774.83
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 110,785.62 $118,457.20
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 263,135.1 $288,009.29
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 153,995.91 $166,954.32
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 188,058.18 $194,971.12
3133G7QL0 FEDERAL NATL MTG ASSN QN1359 3.00000 01/01/2035 US 240,093.66 $248,647.09
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 175,059.06 $186,289.79
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 126,851.16 $135,337.21
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 50.62 $5,889.06
3137A2B34 FHMS K009 X1 FLT 1.26002 08/25/2020 US 1,028,829.38 $3,636.91
3137AME78 FHMS K017 X1 FLT 1.28612 12/25/2021 US 561,372.8 $10,034.60
3137AUPF0 FHMS K021 x1 FLT 1.42177 06/25/2022 US 895,871.85 $24,546.71
3137B3NB0 FHMS K030 X1 FLT 0.18125 04/25/2023 US 4,633,333.08 $24,318.05
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 122,481.45 $125,653.94
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 98,864.14 $101,376.87
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 49,646.63 $58,173.87
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 99,166.99 $107,715.79
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 136,594.9 $150,676.44
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 117,586.95 $129,526.15
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 81,374.43 $88,370.19
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 167,673.24 $191,587.66
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 359,807.21 $386,432.14
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 21,443.57 $23,464.00
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 34,178.58 $39,313.85
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 60,912.05 $64,263.95
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 353,521.24 $376,665.22
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 56,151.39 $60,009.64
3140J9SN2 FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 US 529,674.64 $549,170.55
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 176,277.66 $188,314.24
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 290,779.1 $303,368.23
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 190,972.37 $213,666.36
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 34,039.8 $36,956.48
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 186,888.26 $200,645.13
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 114,360.73 $124,233.81
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 261,816.12 $274,289.06
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 269,154.13 $286,622.96
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 5,206.81 $5,270.39
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 6,117.49 $6,184.19
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 71,678.52 $79,026.37
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 60,653.42 $66,021.58
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 39,998.28 $43,574.00
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 275,322.12 $290,289.13
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 233,569.19 $252,994.53
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 124,262.44 $130,290.04
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 236,726.35 $248,127.90
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 105,216.18 $110,760.85
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 130,586.32 $137,818.08
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 349,692.97 $363,044.72
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 17,291.27 $20,324.88
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 11,080.51 $12,768.44
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 9,396.39 $10,430.00
316773100 FIFTH THIRD BANCORP US FITB 198.45 $4,842.06
32054K103 FIRST INDUSTRIAL REALTY TR US FR 260.05 $10,012.08
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 9,916.02 $9,959.46
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 184,088.53 $195,134.17
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,916.02 $9,742.49
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 8,876.76 $9,298.41
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 9,916.02 $10,309.69
35563BAJ9 FREMF 2014-K37 B FLT 4.55929 01/25/2047 US 156,114.41 $172,271.66
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 57,665.85 $57,913.03
364760108 GAP INC US GPS 141.47 $2,027.25
369550108 GENERAL DYNAMICS CORP US GD 44.35 $7,082.15
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 288,848.87 $282,774.38
370334104 GENERAL MLS INC US GIS 158.05 $7,744.62
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 9,916.02 $8,527.78
372460105 GENUINE PARTS CO US GPC 52.31 $4,563.87
374297109 GETTY REALTY CORP US GTY 293.28 $8,311.57
375558103 GILEAD SCIENCES INC US GILD 255.25 $17,704.39
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 13,394.58 $13,193.66
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 194,884.83 $200,687.08
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 17,582.11 $237,710.12
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 9,396.39 $9,537.06
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 6,957.1 $6,959.68
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 187.8 $20,353.63
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 124.51 $20,792.56
404119BX6 HCA INC 4.12500 06/15/2029 US 283,334.8 $310,901.88
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 3,478.55 $3,513.34
406216101 HALLIBURTON CO US HAL 14,084.3 $238,869.71
416515104 HARTFORD FINL SVCS US HIG 78.65 $3,928.42
421946104 HEALTHCARE REALTY TRUST INC US HR 587.08 $20,136.88
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 364.77 $11,358.98
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 957.77 $30,303.85
427866108 HERSHEY CO/THE US HSY 55.48 $7,988.67
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 99.8 $9,700.15
437076102 HOME DEPOT INC US HD 150.65 $32,817.33
438516106 HONEYWELL INTERNATIONAL INC US HON 113.85 $18,462.78
44107P104 HOST MARRIOTT CORP US HST 701.19 $10,153.30
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 9,916.02 $10,160.95
452308109 ILLINOIS TOOL WKS INC US ITW 64.14 $10,761.59
45337C102 INCYTE CORP US INCY 2,268.1 $171,037.58
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,916.02 $10,151.53
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 152.84 $14,051.79
458140100 INTEL CORP US INTC 632.06 $35,092.15
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,126.69 $278,962.89
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 150.86 $19,633.99
460146103 INTERNATIONAL PAPER CO US IP 89.11 $3,293.67
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 56,436.25 $56,124.45
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 44,181.91 $44,084.92
46187W107 INVITATION HOMES INC US INVH 1,608.55 $46,149.39
46625H100 JP MORGAN CHASE & CO US JPM 324.36 $37,661.43
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 50,339.74 $51,930.02
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 67,032.13 $68,215.22
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 286,452.59 $310,558.65
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 66,468.24 $68,528.15
4741844 MERCK KGAA DE MRK GR 4,934.41 $600,438.63
476405105 JERNIGAN CAPITAL INC US JCAP 1,294.19 $23,191.95
478160104 JOHNSON & JOHNSON US JNJ 6,292.17 $846,170.87
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 12,874.94 $3,089.99
482480100 KLA-TENCOR CORPORATION US KLAC 47.44 $7,292.62
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 7,476.74 $7,850.57
487836108 KELLOGG CO US K 89.01 $5,382.47
493267108 KEYCORP US KEY 268.74 $4,393.96
49427F108 KILROY REALTY CORP US KRC 86.07 $6,256.34
494368103 KIMBERLY CLARK CORP US KMB 78.96 $10,358.61
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 308,045.42 $412,868.38
500255104 KOHLS CORP US KSS 59.17 $2,316.39
50050N103 KONTOOR BRANDS INC US KTB 5.98 $201.81
501044101 KROGER CO US KR 167.24 $4,704.51
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 12,874.94 $13,438.22
5107401 BEIERSDORF AG DE BEI GR 303.15 $32,012.40
512807108 LAM RESEARCH CORP US LRCX 26.96 $7,909.88
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,916.02 $7,113.51
53223X107 LIFE STORAGE INC US LSI 64.53 $6,963.82
539830109 LOCKHEED MARTIN CORP US LMT 47.24 $17,471.24
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 6,437.47 $4,200.45
550021109 LULULEMON - ADR CA LULU 1,511.48 $328,611.37
56585A102 MARATHON PETROLEUM CORP US MPC 173.93 $8,247.65
57636Q104 MASTERCARD INC-CLASS A US MA 3,007.78 $873,007.97
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 79.06 $4,397.47
58933Y105 MERCK & CO INC US MRK 2,457.76 $188,165.73
594918104 MICROSOFT CORP US MSFT 3,638.02 $589,395.57
595112103 MICRON TECHNOLOGY INC US MU 15,226.44 $800,301.93
59522J103 MID-AMERICA APARTMENT COMM US MAA 104.72 $13,535.76
60871R209 MOLSON COORS BREWING CO -B US TAP 62.57 $3,104.27
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 11,035.91 $582,695.91
615369105 MOODY'S CORPORATION US MCO 912.9 $219,122.56
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 6,957.1 $4,067.82
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 13,394.58 $13,055.69
6356934 FANUC LTD JP 6954 JP 128.75 $21,142.45
637417106 NATIONAL RETAIL PROPERTIES US NNN 229.79 $11,684.64
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 9,916.02 $10,012.21
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 6,437.47 $6,791.53
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 169,405.09 $166,716.73
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 95,503.74 $96,192.71
64032XAA3 NSLT 2012-3A A MTGE FLT 2.32675 02/25/2045 US 206,103.28 $204,676.07
64033GAA9 NSLT 2013-5A A MTGE FLT 2.25675 01/25/2037 US 277,497.47 $274,277.28
64110D104 NETAPP INC US NTAP 55.69 $2,601.77
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 49,887.68 $52,808.85
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 69,559.19 $73,473.61
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 74,389.85 $78,290.93
6490995 KEYENCE CORP JP 6861 JP 79.96 $25,532.85
6642321 NIKON CORP JP 7731 JP 1,193.1 $12,187.25
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 12,874.94 $9,784.96
66987V109 NOVARTIS AG- REG CH NVS 10,332.66 $867,530.48
670346105 NUCOR CORP US NUE 99.24 $4,103.51
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 6,437.47 $6,566.87
67066G104 NVIDIA CORP US NVDA 1,128 $304,640.09
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 9,916.02 $9,929.14
6742340 SHANDONG WEIGAO CN 1066 HK 28,659.83 $37,397.57
674599105 OCCIDENTAL PETROLEUM CORP US OXY 137.21 $4,492.38
675232102 OCEANEERING INTL INC US OII 15,296.52 $161,225.31
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 9,916.02 $9,246.69
681936100 OMEGA HEALTHCARE INVS INC US OHI 333.46 $13,205.19
6821506 SONY CORP FIRST SECTION JP 6758 JP 657.32 $40,522.22
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 184,290.42 $187,413.55
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,355.87 $64,220.52
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 182,346.36 $188,704.05
7021963 DEUTSCHE BOERSE AG DE DB1 GR 339.82 $53,471.18
70450Y103 PAYPAL HOLDINGS INC US PYPL 2,619.48 $282,877.90
7123870 NESTLE SA-REGISTERED CH NESN SW 6,406.17 $659,232.14
713448108 PEPSICO INC US PEP 4,191.96 $553,464.94
717081103 PFIZER INC US PFE 791.43 $26,449.50
718546104 PHILLIPS 66 US PSX 79.34 $5,939.60
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,916.02 $9,395.43
71943U104 PHYSICIANS REALTY TRUST US DOC 1,217.3 $22,958.36
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 444.93 $8,351.35
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 486,937.63 $533,228.13
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 9,916.02 $10,263.09
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 6,437.47 $6,628.67
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 178,531.45 $184,279.63
74340W103 PROLOGIS US PLD 862.99 $72,732.97
74460D109 PUBLIC STORAGE INC US PSA 152.38 $31,865.24
74834L100 QUEST DIAGNOSTICS INC US DGX 39.97 $4,238.93
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 9,916.02 $10,510.99
756109104 REALTY INCOME CORP US O 155.34 $11,244.82
758849103 REGENCY CENTERS CORP US REG 212.39 $12,199.89
7591EP100 REGIONS FINANCIAL CORP. US RF 235.8 $3,187.97
76131D103 RESTAURANT BRANDS INTERN CA QSR 851 $49,783.74
7698356 GETINGE AB-B SHS SE GETIB SS 1,710.57 $28,686.55
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,916.02 $9,946.47
773903109 ROCKWELL AUTOMATION INC US ROK 25.61 $4,698.62
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 2,528.01 $112,572.46
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 3,599.69 $258,025.51
78409V104 S&P GLOBAL INC US SPGI 734.29 $195,255.66
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,188.22 $314,985.73
78442GQJ8 SLMA 2005-7 A4 FLT 1.94413 10/25/2029 US 132,077.41 $130,819.32
78442PGC4 SLM CORP 5.12500 04/05/2022 US 12,874.94 $13,132.44
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 270,459.85 $271,812.15
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 122,043.61 $123,320.99
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 46,949.63 $47,485.75
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 29,181.6 $29,396.02
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 408,966.45 $474,715.69
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 377,298.72 $419,386.52
806857108 SCHLUMBERGER LTD NL SLB 10,434.68 $282,675.50
81141R100 SEA LTD - ADR SG SE 480.88 $21,668.34
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 72,622.94 $74,351.58
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 58,316.79 $57,108.65
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 261,132.11 $268,415.34
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 190,795.09 $196,956.05
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 60,503.43 $62,242.90
81762P102 SERVICENOW INC US NOW 442.45 $144,280.03
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,916.02 $8,230.30
828806109 SIMON PROPERTY GROUP INC US SPG 262.49 $32,307.68
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 38.19 $3,933.39
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 4,690.05 $4,691.57
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 36,589.32 $37,402.59
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 5,908.28 $5,930.70
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 24,684.18 $24,812.07
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 119,125.31 $120,373.32
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 92,131.29 $92,985.79
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 22,780.08 $22,842.30
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 137,626.2 $142,672.74
835699307 SONY CORP SPONSORED ADR JP SNE 8,575.15 $533,374.60
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 351,145.06 $351,671.78
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 13,394.58 $13,662.47
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 6,437.47 $6,832.41
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,916.02 $11,250.52
85254J102 STAG INDUSTRIAL INC US STAG 615.95 $17,234.24
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,916.02 $9,829.26
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 185,097.88 $184,151.03
862121100 STORE CAPITAL CORP US STOR 559.77 $18,394.11
866674104 SUN COMMUNITIES US SUI 219.87 $33,613.77
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 6,437.47 $5,793.72
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 573.69 $6,281.87
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 159,792.49 $163,253.91
871829107 SYSCO CORP US SYY 127.52 $8,499.40
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 4,999.41 $5,015.07
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 6,957.1 $4,869.97
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 278,456.22 $315,777.69
882508104 TEXAS INSTRUMENTS INC US TXN 161.47 $18,430.00
88579Y101 3M CO US MMM 109.57 $16,352.24
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,701.58 $116,546.19
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 118,539.95 $120,075.69
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 119,390.74 $121,868.98
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 105,443.84 $106,013.94
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 3,478.55 $3,513.34
89417E109 TRAVELLERS COS INC US TRV 45.25 $5,421.76
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 141,048.81 $142,241.40
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 147,844.33 $152,460.70
89832Q109 TRUIST FINANCIAL CORP US TFC 262.2 $12,098.00
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 16,353.5 $15,535.82
902494103 TYSON FOODS INC -CL A US TSN 69.92 $4,742.89
902653104 UDR INC US UDR 381.85 $17,175.72
902973304 U.S. BANCORP US USB 295.19 $13,708.58
903002103 UMH PROPERTIES INC US UMH 468.97 $6,804.74
904767704 UNILEVER PLC - ADR GB UL 9,801.5 $528,594.94
907818108 UNION PAC CORP US UNP 114.47 $18,293.75
911312106 UNITED PARCEL SERVICE US UPS 165.11 $14,941.20
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,310,614.23 $1,493,602.99
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 354,078.58 $406,926.03
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,193,099.01 $1,391,871.16
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,173,075.77 $1,512,672.05
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 964,049.14 $997,563.58
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 3,597,949.33 $3,826,475.32
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,998,117.52 $2,002,464.69
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 1,050,696.47 $1,108,279.56
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 2,581,098.11 $2,590,787.71
912828Z94 US TREASURY N/B 1.50000 02/15/2030 US 2,624,841.06 $2,716,402.89
913017109 UNITED TECHNOLOGIES CORP US UTX 137.71 $17,983.59
91704F104 URBAN EDGE PROPERTIES US UE 679.44 $11,006.98
918204108 VF CORP US VFC 95.97 $6,909.67
91913Y100 VALERO ENERGY US VLO 104.22 $6,904.63
92276F100 VENTAS INC US VTR 321.67 $17,296.15
92339V100 VEREIT INC US VER 1,305.15 $11,302.59
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 478,941.26 $639,802.67
92556H206 VIACOMCBS INC US VIAC 78.23 $1,925.27
92826C839 VISA INC - CLASS A SHARES US V 4,323.71 $785,877.78
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,916.02 $9,271.48
929042109 VORNADO REALTY TRUST US VNO 77.93 $4,175.39
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 135,865.42 $135,870.27
931142103 WAL MART STORES US WMT 353.83 $38,100.20
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 180.82 $8,274.38
94106L109 WASTE MANAGEMENT INC US WM 94.19 $10,437.45
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,916.02 $10,312.67
949746101 WELLS FARGO COMPANY US WFC 658.62 $26,904.79
95040Q104 WELLTOWER INC. US WELL 379.28 $28,377.53
958102105 WESTERN DIGITAL CORP US WDC 89.08 $4,949.44
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 9,396.39 $5,402.93
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 292,370.43 $306,831.96
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 34,850.38 $34,894.67
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 243.7 $12,416.54
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 13,394.58 $12,858.79
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,786.39 $49,029.54
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 3,077.87 $20,148.55
B1Y47Y7 GERRESHEIMER AG DE GXI GR 479.4 $34,559.23
B1Y9TB3 DANONE FR BN FP 809.06 $57,102.11
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 355,729.76 $18,022.88
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 43,286.95 $33,387.96
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 578,792.65 $29,311.32
B4YVF56 BRENNTAG AG DE BNR GR 685.75 $31,114.56
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 869,647.9 $44,304.19
B63QM77 NEXON CO LTD JP 3659 JP 66,951.99 $1,058,775.21
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 111,339.48 $6,052.88
B7KR2P8 EASY JET PLC GB EZJ LN 17,594.49 $253,983.01
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -17.01 -$9,609.99
BBG00RBW6Q94 MU US 02/28/20 C60 US -32.03 -$32.03
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -.8 -$15.99
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -32.14 -$11,248.43
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -17.91 -$9,529.39
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -35.51 -$4,226.05
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 665.83 $13,379.84
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 543.74 $6,768.70
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,047.25 $9,516.89
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 505.23 $22,371.98
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 925.21 $11,937.04
BJ2KSG2 AKZO NOBEL NL AKZA NA 413.33 $33,070.66
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 13,260.16 $672,352.64
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 7,266.8 $31,478.33
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,473.12 $46,936.40
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 10,045.95 $313,422.50
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 1,672.29 $11,260.45
BYXS699 QIAGEN N.V. NL QIA GR 844.88 $30,965.91
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 7,784.23 $449,779.82
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 6,627.09 $12,526.33
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,043.57 $28,885.90
G29183103 EATON CORP PLC US ETN 106.96 $9,703.71
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 200.95 $7,348.66
G5960L103 MEDTRONIC INC IE MDT 5,745.66 $578,415.48
G97822103 PERRIGO CO PLC IE PRGO 643.4 $32,614.10
H01301128 ALCON INC CH ALC 5,606.4 $343,672.41
H1467J104 CHUBB LTD CH CB 65.53 $9,504.18
N22717107 CORE LABORATORIES N.V. NL CLB 601.75 $16,150.88
N47279109 INTERXION HOLDING NV NL INXN 492.28 $41,789.62
N53745100 LYONDELLBASELL INDU-CL A US LYB 96.07 $6,865.28

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 2025 Series Class I Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter

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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