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

$12.84

Daily $ Change

-$0.02

Daily % Change

-0.16%

as of 08/22/2019

Ticker

MTORX

CUSIP

56382P385

Inception Date

06/25/2012

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

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 07/31/2019

YTD

11.92%

1 Year

5.52%

3 Year

5.56%

5 Year

3.22%

10 Year

---

Inception
(06/25/2012)

7.02%

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 1.47%
Net 1.23%*

*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 07/31/2019

TREASURY NOTES 10.83%
GOVERNMENT AGENCY 9.71%
TREASURY BONDS 7.81%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.14%
TREASURY BILLS 1.96%
MICROSOFT CORP 1.76%
MEDTRONIC INC 1.63%
NOVARTIS AG- REG 1.49%
VISA INC - CLASS A SHARES 1.45%
MASTERCARD INC-CLASS A 1.44%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 07/31/2019

Bonds 57.16%
Stocks 41.95%
Cash 0.89%

Detailed Asset Class Allocation

As of 07/31/2019

International Equities 16.03%
Small Capitalization 0.25%
Mid Capitalization 0.83%
Large Capitalization 24.83%
Long Term Fixed Income 18.12%
Intermediate Term Fixed Income 30.04%
Short Term Fixed Income 9.01%
Cash 0.89%

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

July Fund Holdings

As of 07/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 15,231.81 $15,346.05
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 328,902.02 $353,765.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 317,846.77 $317,554.36
00287Y109 ABBVIE INC US ABBV 132.87 $8,852.02
004239109 ACADIA REALTY TRUST US AKR 214.91 $6,032.42
00507V109 ACTIVISION INC US ATVI 10,388.48 $506,334.52
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 330,562.93 $349,675.77
008492100 AGREE REALTY CORP US ADC 132.93 $8,886.64
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 47.36 $6,931.08
01609W102 ALIBABA GROUP - ADR CN BABA 147.05 $25,456.14
020002101 ALLSTATE CORPORATION US ALL 31.53 $3,386.22
02079K107 ALPHABET INC-CL C US GOOG 455.27 $553,921.72
02079K305 ALPHABET INC-CL A US GOOGL 462.83 $563,817.46
023135106 AMAZON.COM INC US AMZN 135.14 $252,280.02
02319V103 AMBEV SA-ADR BR ABEV 31,133.72 $164,074.71
0237400 DIAGEO PLC GB DGE LN 7,553.5 $314,982.76
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 72,006.79 $72,244.41
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 213.73 $9,991.95
0263494 BAE SYSTEMS PLC GB BA/ LN 2,952.4 $19,614.98
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,302.26 $31,527.70
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,039.77 $19,233.73
03027X100 AMERICAN TOWER REIT INC US AMT 1,383.83 $292,845.30
03064D108 AMERICOLD REALTY TRUST US COLD 557.28 $18,685.52
031162100 AMGEN INC US AMGN 58.92 $10,992.91
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 24,994.76 $23,338.86
03748R754 APARTMENT INVT & MGMT CO -A US AIV 445.42 $22,066.17
038222105 APPLIED MATERIALS INC US AMAT 88.49 $4,368.97
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 62.13 $2,552.32
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 3,807.95 $3,931.71
0405207 HALMA PLC GB HLMA LN 480.9 $11,613.40
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 7,615.91 $7,406.47
0490656 KERRY GROUP PLC-A IE KYGA LN 170.73 $19,920.45
05278C107 AUTOHOME INC-ADR CN ATHM 174.54 $14,835.72
053484101 AVALONBAY COMMUNITIES INC US AVB 228.48 $47,703.76
054937107 BB&T CORP US BBT 66.44 $3,423.48
05722G100 BAKER HUGHES A GE CO US BHGE 108.53 $2,755.59
060505104 BANK OF AMERICA CORP US BAC 435.05 $13,347.35
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 496,330.53 $520,971.71
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,350.78 $688,349.87
086516101 BEST BUY INC US BBY 43.02 $3,292.46
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,833.2 $224,729.27
0922320 SMITH & NEPHEW PLC GB SN/ LN 937.77 $21,230.01
09247X101 BLACKROCK INC US BLK 318.61 $149,008.56
0946580 WEIR GROUP PLC/THE GB WEIR LN 799.16 $14,447.97
097023105 BOEING CO US BA 40.57 $13,841.98
09857L108 BOOKING HOLDINGS INC US BKNG 307.67 $580,461.77
101121101 BOSTON PROPERTIES INC US BXP 250.98 $33,367.87
105368203 BRANDYWINE REALTY TRUST US BDN 1,738.19 $25,638.29
110122108 BRISTOL MYERS SQUIBB CO US BMY 146.48 $6,505.38
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 230.14 $8,195.22
11135F101 BROADCOM INC US AVGO 32.46 $9,412.12
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 17,378.86 $12,990.69
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 18,209.31 $17,253.32
12503M108 CBOE GLOBAL MARKETS INC US CBOE 2,755.14 $301,163.83
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 370,992.03 $372,711.28
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 29.08 $2,434.72
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 81,741.55 $83,293.80
12572Q105 CME GROUP INC US CME 1,435.64 $279,116.90
12596JAA1 CNH 2019-A A1 2.75334 02/28/2020 US 43,389.17 $43,390.92
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 107,055.7 $104,749.81
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 173,484.36 $176,117.68
126650100 CVS HEALTH CORP US CVS 120.79 $6,748.26
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 128,822.48 $132,971.30
133131102 CAMDEN PROPERTY TRUST US CPT 174.34 $18,080.32
13321L108 CAMECO CORP CA CCJ 1,114.86 $10,245.56
149123101 CATERPILLAR INC US CAT 50.21 $6,610.92
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 140,970.85 $141,423.17
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 222,261.22 $221,511.93
165240102 CHESAPEAKE LODGING TRUST US CHSP 311.42 $8,554.75
166764100 CHEVRON CORP US CVX 102.87 $12,664.00
17275R102 CISCO SYSTEMS INC US CSCO 303.1 $16,792.01
172967424 CITIGROUP INC US C 127.21 $9,052.26
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 164,795.34 $265,556.17
191216100 COCA COLA CO/THE US KO 10,960.87 $576,870.52
192422103 COGNEX CORP US CGNX 3,038.18 $133,710.27
194162103 COLGATE-PALMOLIVE CO US CL 92.14 $6,609.86
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 324.57 $19,895.05
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 437.71 $17,985.59
205887102 CONAGRA BRAND INC. US CAG 70.58 $2,037.55
21036PAM0 CONSTELLATION BRANDS INC 3.87500 11/15/2019 US 168,117.16 $168,678.41
222795502 COUSINS PROPERTIES INC US CUZ 1,059.75 $37,281.98
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 298,276.23 $302,053.02
22822V101 CROWN CASTLE INTL CORP US CCI 147.68 $19,679.80
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 49,487.28 $48,527.62
229663109 CUBESMART US CUBE 264.9 $8,993.21
231021106 CUMMINS INC US CMI 22.49 $3,687.90
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 490.17 $6,342.38
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 501.45 $4,620.16
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,461.38 $8,152.77
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 2,036.85 $6,682.13
2521800 LOBLAW COMPANIES LTD CA L CN 401.07 $20,810.21
253868103 DIGITAL REALTY TRUST INC US DLR 168.04 $19,216.61
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 344,133.83 $366,165.25
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 17,378.86 $18,074.01
25960P109 DOUGLAS EMMETT INC US DEI 291.21 $11,887.08
260557103 DOW INC US DOW 69.82 $3,381.85
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 33,218.24 $34,546.97
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 31,849.08 $30,575.11
269246401 ETRADE FINANCIAL CORP US ETFC 2,783.9 $135,826.34
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,073.18 $137,587.54
277432100 EASTMAN CHEM CO US EMN 27.39 $2,063.75
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,071.65 $138,614.67
285512109 ELECTRONIC ARTS US EA 5,979.58 $553,111.14
2866857 LUNDIN MINING CORP CA LUN CN 847.92 $4,105.31
291011104 EMERSON ELEC CO US EMR 76.07 $4,935.68
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 232,649.84 $275,474.10
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 199,440.83 $200,705.14
29444U700 EQUINIX INC US EQIX 872.97 $438,319.86
2945422 WEG SA BR WEGE3 BZ 354.46 $2,217.98
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 139.23 $17,299.75
29476L107 EQUITY RESIDENTIAL US EQR 420.19 $33,148.90
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 634.81 $13,407.19
297178105 ESSEX PROPERTY TRUST INC US ESS 97.35 $29,419.87
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 297,749.74 $298,772.00
30225T102 EXTRA SPACE STORAGE INC US EXR 94.37 $10,606.06
30287EAE0 FREMF 2014-K41 B FLT 3.83228 11/25/2047 US 80,554.24 $84,700.32
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 10,307,603.11 $29,651.88
30291XAE2 FREMF 2014-K715 B FLT 3.97177 02/25/2046 US 78,228.96 $79,599.62
30303M102 FACEBOOK INC -A US FB 1,497.52 $290,862.91
30744W107 FARFETCH LTD - CLASS A GB FTCH 191.43 $3,847.76
311900104 FASTENAL CO US FAST 87.23 $2,686.82
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 14,311.26 $16,289.11
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 27,226.8 $30,088.26
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 27,395.27 $29,856.87
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 14,841.18 $16,530.58
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 123,184.15 $130,167.35
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 18,804.12 $20,786.10
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 75,367.27 $80,544.64
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 21,326.68 $22,768.28
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 27,320.09 $29,194.04
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 38,339.13 $40,396.79
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 124,380.33 $130,794.10
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 181,866.08 $184,441.26
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 152,601.29 $160,049.34
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 263,488.99 $282,700.58
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 194,509.23 $207,199.36
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 189,177.31 $195,881.45
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 149,975.45 $155,288.06
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 46.53 $6,141.88
3137A2B34 FHMS K009 X1 FLT 1.26050 08/25/2020 US 1,035,325.41 $10,684.35
3137AME78 FHMS K017 X1 FLT 1.29777 12/25/2021 US 951,860.15 $23,778.51
3137AUPF0 FHMS K021 x1 FLT 1.43308 06/25/2022 US 800,452.55 $28,264.94
3137B3NB0 FHMS K030 X1 FLT 0.19050 04/25/2023 US 4,155,436.13 $27,111.31
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 168,223.04 $174,186.84
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 163,803.3 $170,837.26
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 48,109.99 $54,736.12
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 117,345.03 $124,407.64
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 169,616.03 $182,991.48
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 117,924.09 $127,087.41
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 96,052.68 $101,807.91
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 200,084.04 $222,121.95
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 420,718.94 $437,192.66
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 41,412.54 $44,334.08
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 33,699.73 $37,705.14
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 56,797.77 $58,611.19
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 401,928.39 $415,994.33
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 76,863.88 $80,633.92
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 254,893.09 $267,842.03
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 237,070.69 $253,985.86
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 77,806.59 $83,293.23
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 258,671.55 $272,478.27
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 160,950.12 $172,435.03
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 291,632.58 $301,665.84
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 10,423.66 $10,575.07
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 12,507.57 $12,685.45
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 84,275.99 $90,883.24
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 77,235.63 $82,335.67
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 38,095.74 $40,686.73
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 396,618.58 $410,432.11
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 341,988.15 $363,125.06
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 142,900.75 $145,020.89
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 123,642.53 $129,203.36
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 421,087.86 $431,593.20
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 31,653.05 $36,012.02
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,591.26 $21,876.36
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 31,780.21 $33,210.32
316773100 FIFTH THIRD BANCORP US FITB 102.11 $3,031.52
32054K103 FIRST INDUSTRIAL REALTY TR US FR 320.7 $12,247.48
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 24,994.76 $24,995.26
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 24,164.31 $25,734.99
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 22,847.72 $23,675.95
35563BAJ9 FREMF 2014-K37 B FLT 4.55903 01/25/2047 US 137,410.65 $148,132.28
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 24,994.76 $25,525.90
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 59,934.78 $59,730.90
364760108 GAP INC US GPS 78.52 $1,531.23
369550108 GENERAL DYNAMICS CORP US GD 23.41 $4,353.76
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 300,504.35 $291,113.59
370334104 GENERAL MLS INC US GIS 83.43 $4,430.79
37045VAR1 GENERAL MOTORS CO FLT 3.35300 09/10/2021 US 213,468.27 $213,508.44
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 313,508.04 $313,977.08
372460105 GENUINE PARTS CO US GPC 26.79 $2,602.18
374297109 GETTY REALTY CORP US GTY 372.84 $11,177.60
375558103 GILEAD SCIENCES INC US GILD 130.42 $8,545.27
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 38,079.53 $38,650.73
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 17,378.86 $17,302.39
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 154,546.26 $164,414.01
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 209,599.31 $208,360.92
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 62.59 $6,264.45
40060QAA3 GTCR AP FINANCE INC 8.00000 05/15/2027 US 3,807.95 $3,893.63
4012250 AIRBUS SE FR AIR FP 126.35 $17,861.16
4031879 VEOLIA ENVIRONMENT FR VIE FP 130.16 $3,284.69
404119BX6 HCA INC 4.12500 06/15/2029 US 262,424.82 $268,820.11
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 7,615.91 $6,625.84
40414L109 HCP INC US HCP 671.52 $21,441.52
4057808 L'OREAL FR OR FP 57.46 $15,375.25
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 53.66 $22,163.03
406216101 HALLIBURTON CO US HAL 14,836.51 $341,239.72
4162791 THALES SA FR HO FP 16.06 $1,809.81
4163437 CAPGEMINI FR CAP FP 33.79 $4,289.56
416515104 HARTFORD FINL SVCS US HIG 41.33 $2,381.99
421946104 HEALTHCARE REALTY TRUST INC US HR 564.89 $18,065.30
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 900.48 $24,249.92
427866108 HERSHEY CO/THE US HSY 28.48 $4,321.96
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 90.56 $8,743.61
437076102 HOME DEPOT INC US HD 80.98 $17,303.70
438516106 HONEYWELL INTERNATIONAL INC US HON 60.18 $10,378.26
44107P104 HOST MARRIOTT CORP US HST 1,158.59 $20,147.88
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 31,780.21 $33,671.14
4457624 TRIGANO SA FR TRI FP 36.76 $3,688.41
452308109 ILLINOIS TOOL WKS INC US ITW 33.38 $5,148.88
45337C102 INCYTE CORP US INCY 3,377.69 $286,833.83
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,099.18 $13,574.90
458140100 INTEL CORP US INTC 342.58 $17,317.52
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,570.81 $313,731.07
4588364 MICHELIN (CGDE)-B FR ML FP 41.4 $4,576.82
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 77.76 $11,527.63
460146103 INTERNATIONAL PAPER CO US IP 49.28 $2,163.91
46187BAA1 IHSFR 2017-SFR2 A 3.16413 12/17/2036 US 62,693.45 $62,566.44
46187BAB9 IHSFR 2017-SFR2 B 3.46413 12/17/2036 US 47,842.48 $47,770.31
46187W107 INVITATION HOMES INC US INVH 1,111.57 $30,534.72
46625H100 JP MORGAN CHASE & CO US JPM 170.23 $19,746.88
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 59,038.41 $60,023.17
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 80,429.62 $81,398.94
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 242,210.27 $256,804.01
4682329 PERNOD-RICARD SA FR RI FP 49.85 $8,747.49
4741844 MERCK KGAA DE MRK GR 5,321.51 $542,763.19
476405105 JERNIGAN CAPITAL INC US JCAP 618.21 $12,265.19
478160104 JOHNSON & JOHNSON US JNJ 6,233.38 $811,711.26
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 43,204.07 $17,065.61
4821100 SOLVAY SA BE SOLB BB 218.43 $22,366.25
4824778 SGS SA-REG CH SGSN SW 1.66 $4,101.57
482480100 KLA-TENCOR CORPORATION US KLAC 26.03 $3,548.66
4834108 SCHNEIDER ELECTRIC SE FR SU FP 121.71 $10,500.92
4834777 VIVENDI FR VIV FP 230.34 $6,397.74
487836108 KELLOGG CO US K 47 $2,736.10
493267108 KEYCORP US KEY 139.3 $2,558.91
494368103 KIMBERLY CLARK CORP US KMB 41.17 $5,584.22
49446R109 KIMCO REALTY CORP US KIM 561.92 $10,794.41
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 279,317.54 $361,905.95
500255104 KOHLS CORP US KSS 36.6 $1,971.11
50050N103 KONTOOR BRANDS INC US KTB 6.76 $198.19
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 364,186.22 $363,822.03
501044101 KROGER CO US KR 87.57 $1,852.91
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 39,396.12 $40,085.55
5107401 BEIERSDORF AG DE BEI GR 101.84 $11,802.34
512807108 LAM RESEARCH CORP US LRCX 15.3 $3,191.87
5176177 ORANGE FR ORA FP 453.07 $6,715.57
5253973 HERMES INTERNATIONAL FR RMS FP 5.47 $3,841.47
529043101 LEXINGTON REALTY TRUST US LXP 1,112.41 $10,979.47
531172104 LIBERTY PROPERTY TRUST US LPT 318.21 $16,642.24
5330047 DASSAULT SYSTEMES SA FR DSY FP 32.96 $5,013.01
539830109 LOCKHEED MARTIN CORP US LMT 25.1 $9,091.96
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 14,401.36 $13,465.27
5474008 BANKINTER S.A. ES BKT SM 1,788.56 $11,601.98
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 3.81 $7,429.18
550021109 LULULEMON - ADR CA LULU 3,306.17 $631,776.79
5505072 KERING FR KER FP 16.89 $8,725.30
5545670 JUNGHEINRICH AG DE JUN3 GR 429.73 $9,580.88
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 31,419.67 $31,105.47
5608915 ALTEN SA FR ATE FP 57.46 $7,108.81
5633616 SOPRA STERIA GROUP FR SOP FP 78.16 $10,089.18
563571AL2 MANITOWOC COMPANY INC 9.00000 04/01/2026 US 7,615.91 $7,673.03
56585A102 MARATHON PETROLEUM CORP US MPC 86.64 $4,885.57
5669354 REPSOL SA ES REP SM 1,195.78 $18,966.13
5671735 SANOFI-AVENTIS FR SAN FP 255.68 $21,306.31
5701513 ELISA OYJ FI ELISA FH 429.19 $20,183.00
5727973 SIEMENS AG-REG DE SIE GR 84.95 $9,245.39
57636Q104 MASTERCARD INC-CLASS A US MA 3,483.02 $948,322.17
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 40.57 $2,401.39
585464100 MELCO CROWN ENTERTAINME-ADR HK MLCO 434.03 $9,752.56
58933Y105 MERCK & CO INC US MRK 3,710.53 $307,936.56
594918104 MICROSOFT CORP US MSFT 8,530.58 $1,162,462.72
595112103 MICRON TECHNOLOGY INC US MU 7,190.99 $322,803.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 121.02 $14,261.47
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW .33 $2,448.24
5980613 GIVAUDAN - REG CH GIVN SW 1.66 $4,417.35
5986622 KONINKLIJKE PHILIPS NV NL PHIA NA 463.17 $21,727.79
6055112 AYALA LAND INC PH ALI PM 10,051.38 $9,800.87
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 3,911.7 $6,894.60
60871R209 MOLSON COORS BREWING CO -B US TAP 33.05 $1,784.49
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,859.63 $580,881.75
6108179 HARMONIC DRIVE SYSTEMS INC JP 6324 JP 261.7 $9,856.16
615369105 MOODY'S CORPORATION US MCO 1,443.11 $309,316.82
61744YAG3 MORGAN STANLEY FLT 3.77988 05/08/2024 US 518,894.64 $526,133.22
6194037 KAKAO CORP KR 035720 KS 181.32 $19,315.79
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 3,807.95 $3,351.00
6211732 DAEWOO SHIPBUILDING& MARINE KR 042660 KS 221.69 $5,456.03
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 31,780.21 $31,502.14
6250025 DAIFUKU CO LTD JP 6383 JP 168.93 $9,239.19
6272483 DMCI HOLDINGS INC PH DMC PM 14,029.88 $2,795.64
6284864 GLOBE TELECOM INC PH GLO PM 142.41 $6,011.38
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 18,083.72 $11,609.95
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 17,378.86 $16,249.23
6344456 LG HOUSEHOLD & HEALTH CARE KR 051900 KS 18.08 $19,147.52
6356934 FANUC LTD JP 6954 JP 76.16 $13,535.48
637417106 NATIONAL RETAIL PROPERTIES US NNN 226.33 $11,823.49
637870106 NATIONAL STORAGE AFFILIATES US NSA 229.79 $6,960.45
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 182,899.06 $183,935.20
64110D104 NETAPP INC US NTAP 30.17 $1,764.76
6441506 HOYA CORP JP 7741 JP 245.09 $18,793.70
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 212.13 $19,259.19
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 515.17 $18,517.09
6465874 GALAXY ENTERTAINMENT GROUP L HK 27 HK 1,855.36 $12,630.02
6474494 JOLLIBEE FOODS CORP PH JFC PM 1,316.82 $6,691.64
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 180.98 $18,877.92
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 60,383.06 $61,983.10
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 84,230.46 $86,500.45
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 89,374.43 $91,714.14
6490995 KEYENCE CORP JP 6861 JP 16.61 $9,531.13
6499550 KYOWA KIRIN CO LTD JP 4151 JP 7,954.98 $131,106.15
6514442 METROPOLITAN BANK & TRUST PH MBT PM 5,077.66 $7,547.64
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 35,588.17 $24,199.95
6687571 NABTESCO CORP JP 6268 JP 354.46 $9,549.07
66987V109 NOVARTIS AG- REG CH NVS 10,719.87 $981,726.02
670346105 NUCOR CORP US NUE 53.59 $2,914.05
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 15,231.81 $15,917.25
6742340 SHANDONG WEIGAO CN 1066 HK 9,803.45 $9,346.24
674599105 OCCIDENTAL PETROLEUM CORP US OXY 71.93 $3,694.52
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 736.17 $4,360.93
680665AL0 OLIN CORP 5.62500 08/01/2029 US 15,231.81 $15,631.65
6818843 SM PRIME HOLDINGS INC PH SMPH PM 16,544.89 $11,828.82
6821120 SONIC HEALTHCARE LTD AU SHL AU 1,068.76 $20,454.86
6821506 SONY CORP FIRST SECTION JP 6758 JP 321.25 $18,270.48
6895200 TOHO CO LTD JP 9602 JP 430.62 $16,719.82
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 99,654.72 $101,871.14
6919519 UNIVERSAL ROBINA CORP PH URC PM 2,152.75 $6,745.93
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 413.95 $9,761.41
7021963 DEUTSCHE BOERSE AG DE DB1 GR 97.2 $13,494.15
7088429 AXA SA FR CS FP 450.09 $11,336.95
7103065 NOVARTIS AG-REG CH NOVN SW 252.7 $23,172.50
7103526 PEUGEOT SA FR UG FP 130.16 $3,072.15
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 112.44 $30,095.18
7110902 TECAN GROUP AG-REG CH TECN SW 17.72 $4,502.90
7123870 NESTLE SA-REGISTERED CH NESN SW 6,355.55 $674,242.97
7133608 EQUINOR ASA NO EQNR NO 1,120.61 $20,092.91
713448108 PEPSICO INC US PEP 4,678.39 $597,945.56
7145056 ENI SPA IT ENI IM 1,285.39 $20,079.46
717081103 PFIZER INC US PFE 419.42 $16,290.18
718546104 PHILLIPS 66 US PSX 41.17 $4,222.03
71943U104 PHYSICIANS REALTY TRUST US DOC 1,331.26 $22,911.06
7212477 ESSILORLUXOTTICA FR EL FP 68.89 $9,325.07
7262610 CREDIT AGRICOLE SA FR ACA FP 265.38 $3,159.11
729640102 PLYMOUTH INDUSTRIAL REIT INC US 369.97 $6,873.99
7309681 BNP PARIBAS FR BNP FP 264.96 $12,400.01
7339451 ORPEA SA FR ORP FP 76.5 $9,558.18
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 109.46 $4,193.21
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 497,991.44 $523,011.30
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 185,496.02 $188,053.43
74340W103 PROLOGIS US PLD 746.85 $60,203.18
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 316,992.03 $338,791.57
74460D109 PUBLIC STORAGE INC US PSA 124 $30,102.62
74834L100 QUEST DIAGNOSTICS INC US DGX 20.96 $2,140.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 35,588.17 $35,677.14
756109104 REALTY INCOME CORP US O 100.67 $6,967.21
7591EP100 REGIONS FINANCIAL CORP. US RF 124.16 $1,977.93
76131D103 RESTAURANT BRANDS INTERN CA QSR 182.98 $13,485.94
7698356 GETINGE AB-B SHS SE GETIB SS 816.7 $11,983.24
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 29,633.17 $30,326.28
773903109 ROCKWELL AUTOMATION INC US ROK 13.78 $2,215.15
7742468 GECINA SA FR GFC FP 62.1 $9,528.36
77714PAB5 SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 US 24,994.76 $24,588.60
7792559 HEINEKEN NV NL HEIA NA 182.98 $19,632.13
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 492.18 $31,238.53
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 110.78 $6,882.45
78409V104 S&P GLOBAL INC US SPGI 1,267.26 $310,414.94
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,238.31 $303,894.61
78442PGC4 SLM CORP 5.12500 04/05/2022 US 29,633.17 $29,929.50
78463V107 SPDR GOLD SHARES US 537.13 $71,550.82
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 158,271.42 $158,148.55
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 58,521.7 $58,907.93
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 79,818.95 $80,278.96
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 418,915.59 $477,672.72
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 324,607.94 $344,309.80
806857108 SCHLUMBERGER LTD NL SLB 7,419.11 $296,541.68
808513105 CHARLES SCHWAB CORP/THE US SCHW 5,977.8 $258,360.41
81141R100 SEA LTD - ADR SG SE 662.42 $23,251.00
812578102 SEATTLE GENETICS INC US SGEN 4,020.87 $304,420.38
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 85,127.55 $85,240.98
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 70,030.47 $64,983.46
81762P102 SERVICENOW INC US NOW 2,045.3 $567,344.67
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 24,994.76 $22,995.18
828806109 SIMON PROPERTY GROUP INC US SPG 294.53 $47,772.60
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 20.2 $2,246.31
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 15,275.23 $15,233.42
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 32,205.62 $32,435.47
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 22,728.41 $22,786.89
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 48,196.18 $48,360.27
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 44,424.39 $44,328.08
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 180,919.82 $181,420.17
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 142,759.19 $143,346.31
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,600.38 $40,565.54
835699307 SONY CORP SPONSORED ADR JP SNE 5,246.91 $298,339.49
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 365,037.04 $371,226.95
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 29,053.89 $25,058.98
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 14,401.36 $15,769.49
85254J102 STAG INDUSTRIAL INC US STAG 389.73 $11,582.71
855030AN2 STAPLES INC 7.50000 04/15/2026 US 24,164.31 $24,708.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.54500 11/15/2027 US 190,985.09 $190,586.37
862121100 STORE CAPITAL CORP US STOR 204.31 $6,989.54
866674104 SUN COMMUNITIES US SUI 200.99 $26,693.62
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 780.29 $10,307.58
867914103 SUNTRUST BANKS INC US STI 51.73 $3,445.31
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 192,625.79 $192,305.09
871829107 SYSCO CORP US SYY 64.91 $4,451.11
874080104 TAL EDUCATION GROUP - ADR CN TAL 462.69 $14,898.51
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 10,080.26 $10,048.54
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 24,994.76 $21,745.44
882508104 TEXAS INSTRUMENTS INC US TXN 84.02 $10,503.60
88579Y101 3M CO US MMM 55.87 $9,761.88
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 149,051.21 $148,191.51
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 149,559.47 $150,109.50
89177EAA7 TPMT 2019-HY1 A1 3.26600 10/25/2048 US 137,979.34 $138,733.37
89417E109 TRAVELLERS COS INC US TRV 24.18 $3,544.75
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 149,436.68 $149,098.73
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 152,501.81 $153,889.43
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 32,015.17 $31,414.88
902494103 TYSON FOODS INC -CL A US TSN 37.36 $2,970.00
902653104 UDR INC US UDR 350.82 $16,158.67
902973304 U.S. BANCORP US USB 150.62 $8,608.21
903002103 UMH PROPERTIES INC US UMH 442.9 $5,824.10
904767704 UNILEVER PLC - ADR GB UL 8,832.34 $531,000.55
907818108 UNION PAC CORP US UNP 60.61 $10,906.27
911312106 UNITED PARCEL SERVICE US UPS 88.92 $10,623.73
912796SJ9 TREASURY BILL 0.00000 09/19/2019 US 1,295,547.47 $1,292,063.02
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 922,995.4 $1,298,719.42
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 995,889.37 $1,361,723.10
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 370,520.42 $376,247.40
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,374,120.54 $1,368,323.47
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,022,221.14 $1,119,092.56
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 1,237,747.02 $1,311,818.45
9128286B1 US TREASURY N/B 2.62500 02/15/2029 US 1,705,841.33 $1,794,798.30
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 237,510.43 $243,309.02
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,426,963.1 $1,410,266.64
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,319,938.09 $1,294,158.05
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 389,649.97 $401,111.16
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,257,151.4 $1,295,160.59
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 784,528.91 $794,458.10
913017109 UNITED TECHNOLOGIES CORP US UTX 71.17 $9,508.61
91704F104 URBAN EDGE PROPERTIES US UE 898.49 $15,031.82
918204108 VF CORP US VFC 50.37 $4,402.21
91913Y100 VALERO ENERGY US VLO 54.35 $4,633.20
92189F106 MARKET VECTORS GOLD MINERS US 1,614.86 $42,793.78
92276F100 VENTAS INC US VTR 461.25 $31,037.41
92339V100 VEREIT INC US VER 2,246 $20,483.56
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 395,500.66 $498,058.75
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,543.7 $257,211.21
92553P201 VIACOM INC CL B US VIAB 68.13 $2,067.62
92826C839 VISA INC - CLASS A SHARES US V 5,373.91 $956,556.47
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 21,186.81 $20,974.94
929042109 VORNADO REALTY TRUST US VNO 186.25 $11,979.30
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 15,231.81 $14,584.46
93065PAA9 WBHT 2019-WBM A FLT 3.37500 12/15/2033 US 145,330.16 $144,507.20
931142103 WAL MART STORES US WMT 182.15 $20,106.14
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 96.28 $5,246.10
94106L109 WASTE MANAGEMENT INC US WM 49.45 $5,785.26
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 28,373.31 $28,160.51
948741103 WEINGARTEN REALTY INVESTORS US WRI 535.75 $14,952.69
949746101 WELLS FARGO COMPANY US WFC 325.76 $15,769.96
95040Q104 WELLTOWER INC. US WELL 286.08 $23,779.19
958102105 WESTERN DIGITAL CORP US WDC 49.45 $2,664.68
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 255,781.17 $263,379.37
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 64,207.61 $64,505.87
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 33,218.24 $31,391.24
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 1,808.37 $16,414.12
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 1,308.48 $15,421.47
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 2,222.39 $20,329.24
B037JC2 NEXITY FR NXI FP 65.91 $3,164.57
B058TZ6 SAFRAN SA FR SAF FP 74.36 $10,674.70
B068DB9 SM INVESTMENTS CORP PH SM PM 494.47 $9,669.79
B07DRZ5 RECORDATI SPA IT REC IM 466.98 $20,913.70
B08K3S0 LOCALIZA RENT A CAR BR RENT3 BZ 245.09 $2,812.84
B0C2CQ3 ENGIE FR ENGI FP 429.39 $6,608.07
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 354.46 $4,388.59
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 1,225.43 $16,902.03
B0R7JF1 IPSEN FR IPN FP 163.11 $18,724.87
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 196.21 $15,758.07
B11ZRK9 LEGRAND SA FR LR FP 57.46 $4,047.84
B13X013 EIFFAGE FR FGR FP 58.29 $5,760.19
B15C557 TOTAL SA FR FP FP 382.72 $19,836.47
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,265.25 $19,697.65
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,361.14 $8,364.12
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 202.02 $9,788.54
B1XH026 VINCI SA FR DG FP 192.75 $19,826.75
B1Y47Y7 GERRESHEIMER AG DE GXI GR 114.1 $8,874.69
B1Y9TB3 DANONE FR BN FP 552.9 $47,985.88
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 1,093.77 $8,164.94
B1YXBJ7 AIR LIQUIDE FR AI FP 94.23 $13,006.73
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 8,680.51 $6,025.41
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 828.31 $5,926.69
B24CGK7 RECKITT BENCKISER GROUP PLC GB RB/ LN 247.73 $19,150.49
B3NB1P2 SUNCOR ENERGY INC CA SU CN 519.32 $14,901.23
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 185.54 $2,537.28
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 379,369.46 $19,481.04
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 45,711.66 $35,785.18
B4JSTL6 WYNN MACAU LTD MO 1128 HK 6,491.34 $14,565.49
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 617,119.48 $31,539.39
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 5,882.07 $9,612.03
B4R2R50 JULIUS BAER CH BAER SW 235.32 $10,055.99
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 152.32 $1,727.39
B5B23W2 SANDS CHINA LTD MO 1928 HK 2,941.04 $14,116.58
B5VJH76 BDO UNIBANK INC PH BDO PM 3,207.59 $9,223.24
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 921,180.61 $48,150.63
B63QM77 NEXON CO LTD JP 3659 JP 2,866.46 $45,371.79
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 118,743.35 $6,263.35
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 3,529.65 $3,144.26
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 92.77 $2,005.42
B92RW83 LT GROUP INC PH LTG PM 10,447.57 $2,894.83
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 321.25 $2,736.56
BB22L96 KION GROUP AG DE KGX GR 178.35 $9,506.19
BBG00PFL3N07 EA US 08/02/19 C89 US -20.37 -$6,823.45
BBG00PHRPF69 EQIX US 08/16/19 P480 US -3.54 -$1,651.80
BBG00PMQYKV6 CBOE US 08/23/19 P105 US -16.56 -$1,490.45
BBG00PN16Q48 NOW US 08/23/2019 P270 US -6.59 -$2,939.59
BBG00PP80KG7 FB US 08/30/19 P185 US -9.8 -$2,264.60
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 265.44 $5,328.51
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 845.2 $9,449.99
BD4TZK8 OCI NV NL OCI NA 150.03 $3,913.07
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 1,312.18 $14,095.29
BD9Y9B7 BASIC-FIT NV NL BFIT NA 438.66 $13,863.94
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 666.86 $19,807.73
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 2,144.08 $3,341.20
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 920.8 $10,205.99
BG7ZWY7 AMBEV SA BR ABEV3 BZ 2,096.4 $11,096.28
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 6,554.5 $10,956.34
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 18,112.09 $15,476.96
BJ2KSG2 AKZO NOBEL NL AKZA NA 261.31 $24,656.25
BJT1GR5 ALCON INC CH ALC SW 167.78 $9,716.12
BMJ6DW5 INFORMA PLC GB INF LN 1,945.05 $20,593.77
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 19,163.79 $892,897.85
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,701.63 $7,637.93
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,444.49 $14,369.80
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 17,300.54 $517,673.37
BSQXJ01 THULE GROUP AB/THE SE THULE SS 922.54 $20,151.10
BVSS790 ELIS SA FR ELIS FP 336.82 $6,256.63
BYXS699 QIAGEN N.V. NL QIA GR 338.97 $12,866.35
BYXZ2W5 RUMO SA BR RAIL3 BZ 506.78 $2,892.21
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 6,631.04 $666,664.55
BYZFYS3 SPIE SA FR SPIE FP 163.11 $3,023.42
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 2,772.68 $14,637.39
BYZR014 AMUNDI SA FR AMUN FP 130.99 $9,012.70
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 265.3 $8,338.41
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 357.52 $19,763.83
G27358103 DESPEGAR.COM CORP AR DESP 305.53 $3,974.91
G29183103 EATON CORP PLC US ETN 55.11 $4,529.49
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 32,610.67 $33,621.60
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 539.68 $9,331.00
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 154.67 $21,557.58
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 104.72 $4,444.43
G5960L103 MEDTRONIC INC IE MDT 10,507.21 $1,071,105.15
G97822103 PERRIGO CO PLC IE PRGO 310.17 $16,752.06
H01301128 ALCON INC CH ALC 2,177.95 $127,954.83
H1467J104 CHUBB LTD CH CB 33.98 $5,193.49
H8817H100 TRANSOCEAN LTD US RIG 14,337.91 $87,174.50
N22717107 CORE LABORATORIES N.V. NL CLB 146.22 $7,335.92
N47279109 INTERXION HOLDING NV NL INXN 6,628.96 $499,160.45
N53745100 LYONDELLBASELL INDU-CL A US LYB 50.97 $4,265.67
N72482123 QIAGEN N.V. ADR NL QGEN 208.67 $7,870.95
USD US DOLLAR US 592,404.66 $592,404.66

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 R Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 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

$12.84

Daily $ Change

-$0.02

Daily % Change

-0.16%

as of 08/22/2019

Ticker

MTORX

CUSIP

56382P385

Inception Date

06/25/2012

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

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 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 07/31/2019

YTD

11.92%

1 Year

5.52%

3 Year

5.56%

5 Year

3.22%

10 Year

---

Inception
(06/25/2012)

7.02%

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 1.47%
Net 1.23%*

*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 07/31/2019

TREASURY NOTES 10.83%
GOVERNMENT AGENCY 9.71%
TREASURY BONDS 7.81%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.14%
TREASURY BILLS 1.96%
MICROSOFT CORP 1.76%
MEDTRONIC INC 1.63%
NOVARTIS AG- REG 1.49%
VISA INC - CLASS A SHARES 1.45%
MASTERCARD INC-CLASS A 1.44%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 07/31/2019

Bonds
57.16%
Stocks
41.95%
Cash
0.89%

Detailed Asset Class Allocation

As of 07/31/2019

International Equities
16.03%
Small Capitalization
0.25%
Mid Capitalization
0.83%
Large Capitalization
24.83%
Long Term Fixed Income
18.12%
Intermediate Term Fixed Income
30.04%
Short Term Fixed Income
9.01%
Cash
0.89%

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

July Fund Holdings

As of 07/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 15,231.81 $15,346.05
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 328,902.02 $353,765.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 317,846.77 $317,554.36
00287Y109 ABBVIE INC US ABBV 132.87 $8,852.02
004239109 ACADIA REALTY TRUST US AKR 214.91 $6,032.42
00507V109 ACTIVISION INC US ATVI 10,388.48 $506,334.52
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 330,562.93 $349,675.77
008492100 AGREE REALTY CORP US ADC 132.93 $8,886.64
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 47.36 $6,931.08
01609W102 ALIBABA GROUP - ADR CN BABA 147.05 $25,456.14
020002101 ALLSTATE CORPORATION US ALL 31.53 $3,386.22
02079K107 ALPHABET INC-CL C US GOOG 455.27 $553,921.72
02079K305 ALPHABET INC-CL A US GOOGL 462.83 $563,817.46
023135106 AMAZON.COM INC US AMZN 135.14 $252,280.02
02319V103 AMBEV SA-ADR BR ABEV 31,133.72 $164,074.71
0237400 DIAGEO PLC GB DGE LN 7,553.5 $314,982.76
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 72,006.79 $72,244.41
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 213.73 $9,991.95
0263494 BAE SYSTEMS PLC GB BA/ LN 2,952.4 $19,614.98
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,302.26 $31,527.70
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,039.77 $19,233.73
03027X100 AMERICAN TOWER REIT INC US AMT 1,383.83 $292,845.30
03064D108 AMERICOLD REALTY TRUST US COLD 557.28 $18,685.52
031162100 AMGEN INC US AMGN 58.92 $10,992.91
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 24,994.76 $23,338.86
03748R754 APARTMENT INVT & MGMT CO -A US AIV 445.42 $22,066.17
038222105 APPLIED MATERIALS INC US AMAT 88.49 $4,368.97
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 62.13 $2,552.32
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 3,807.95 $3,931.71
0405207 HALMA PLC GB HLMA LN 480.9 $11,613.40
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 7,615.91 $7,406.47
0490656 KERRY GROUP PLC-A IE KYGA LN 170.73 $19,920.45
05278C107 AUTOHOME INC-ADR CN ATHM 174.54 $14,835.72
053484101 AVALONBAY COMMUNITIES INC US AVB 228.48 $47,703.76
054937107 BB&T CORP US BBT 66.44 $3,423.48
05722G100 BAKER HUGHES A GE CO US BHGE 108.53 $2,755.59
060505104 BANK OF AMERICA CORP US BAC 435.05 $13,347.35
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 496,330.53 $520,971.71
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,350.78 $688,349.87
086516101 BEST BUY INC US BBY 43.02 $3,292.46
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,833.2 $224,729.27
0922320 SMITH & NEPHEW PLC GB SN/ LN 937.77 $21,230.01
09247X101 BLACKROCK INC US BLK 318.61 $149,008.56
0946580 WEIR GROUP PLC/THE GB WEIR LN 799.16 $14,447.97
097023105 BOEING CO US BA 40.57 $13,841.98
09857L108 BOOKING HOLDINGS INC US BKNG 307.67 $580,461.77
101121101 BOSTON PROPERTIES INC US BXP 250.98 $33,367.87
105368203 BRANDYWINE REALTY TRUST US BDN 1,738.19 $25,638.29
110122108 BRISTOL MYERS SQUIBB CO US BMY 146.48 $6,505.38
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 230.14 $8,195.22
11135F101 BROADCOM INC US AVGO 32.46 $9,412.12
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 17,378.86 $12,990.69
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 18,209.31 $17,253.32
12503M108 CBOE GLOBAL MARKETS INC US CBOE 2,755.14 $301,163.83
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 370,992.03 $372,711.28
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 29.08 $2,434.72
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 81,741.55 $83,293.80
12572Q105 CME GROUP INC US CME 1,435.64 $279,116.90
12596JAA1 CNH 2019-A A1 2.75334 02/28/2020 US 43,389.17 $43,390.92
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 107,055.7 $104,749.81
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 173,484.36 $176,117.68
126650100 CVS HEALTH CORP US CVS 120.79 $6,748.26
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 128,822.48 $132,971.30
133131102 CAMDEN PROPERTY TRUST US CPT 174.34 $18,080.32
13321L108 CAMECO CORP CA CCJ 1,114.86 $10,245.56
149123101 CATERPILLAR INC US CAT 50.21 $6,610.92
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 140,970.85 $141,423.17
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 222,261.22 $221,511.93
165240102 CHESAPEAKE LODGING TRUST US CHSP 311.42 $8,554.75
166764100 CHEVRON CORP US CVX 102.87 $12,664.00
17275R102 CISCO SYSTEMS INC US CSCO 303.1 $16,792.01
172967424 CITIGROUP INC US C 127.21 $9,052.26
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 164,795.34 $265,556.17
191216100 COCA COLA CO/THE US KO 10,960.87 $576,870.52
192422103 COGNEX CORP US CGNX 3,038.18 $133,710.27
194162103 COLGATE-PALMOLIVE CO US CL 92.14 $6,609.86
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 324.57 $19,895.05
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 437.71 $17,985.59
205887102 CONAGRA BRAND INC. US CAG 70.58 $2,037.55
21036PAM0 CONSTELLATION BRANDS INC 3.87500 11/15/2019 US 168,117.16 $168,678.41
222795502 COUSINS PROPERTIES INC US CUZ 1,059.75 $37,281.98
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 298,276.23 $302,053.02
22822V101 CROWN CASTLE INTL CORP US CCI 147.68 $19,679.80
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 49,487.28 $48,527.62
229663109 CUBESMART US CUBE 264.9 $8,993.21
231021106 CUMMINS INC US CMI 22.49 $3,687.90
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 490.17 $6,342.38
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 501.45 $4,620.16
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,461.38 $8,152.77
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 2,036.85 $6,682.13
2521800 LOBLAW COMPANIES LTD CA L CN 401.07 $20,810.21
253868103 DIGITAL REALTY TRUST INC US DLR 168.04 $19,216.61
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 344,133.83 $366,165.25
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 17,378.86 $18,074.01
25960P109 DOUGLAS EMMETT INC US DEI 291.21 $11,887.08
260557103 DOW INC US DOW 69.82 $3,381.85
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 33,218.24 $34,546.97
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 31,849.08 $30,575.11
269246401 ETRADE FINANCIAL CORP US ETFC 2,783.9 $135,826.34
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,073.18 $137,587.54
277432100 EASTMAN CHEM CO US EMN 27.39 $2,063.75
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,071.65 $138,614.67
285512109 ELECTRONIC ARTS US EA 5,979.58 $553,111.14
2866857 LUNDIN MINING CORP CA LUN CN 847.92 $4,105.31
291011104 EMERSON ELEC CO US EMR 76.07 $4,935.68
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 232,649.84 $275,474.10
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 199,440.83 $200,705.14
29444U700 EQUINIX INC US EQIX 872.97 $438,319.86
2945422 WEG SA BR WEGE3 BZ 354.46 $2,217.98
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 139.23 $17,299.75
29476L107 EQUITY RESIDENTIAL US EQR 420.19 $33,148.90
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 634.81 $13,407.19
297178105 ESSEX PROPERTY TRUST INC US ESS 97.35 $29,419.87
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 297,749.74 $298,772.00
30225T102 EXTRA SPACE STORAGE INC US EXR 94.37 $10,606.06
30287EAE0 FREMF 2014-K41 B FLT 3.83228 11/25/2047 US 80,554.24 $84,700.32
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 10,307,603.11 $29,651.88
30291XAE2 FREMF 2014-K715 B FLT 3.97177 02/25/2046 US 78,228.96 $79,599.62
30303M102 FACEBOOK INC -A US FB 1,497.52 $290,862.91
30744W107 FARFETCH LTD - CLASS A GB FTCH 191.43 $3,847.76
311900104 FASTENAL CO US FAST 87.23 $2,686.82
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 14,311.26 $16,289.11
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 27,226.8 $30,088.26
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 27,395.27 $29,856.87
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 14,841.18 $16,530.58
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 123,184.15 $130,167.35
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 18,804.12 $20,786.10
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 75,367.27 $80,544.64
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 21,326.68 $22,768.28
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 27,320.09 $29,194.04
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 38,339.13 $40,396.79
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 124,380.33 $130,794.10
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 181,866.08 $184,441.26
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 152,601.29 $160,049.34
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 263,488.99 $282,700.58
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 194,509.23 $207,199.36
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 189,177.31 $195,881.45
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 149,975.45 $155,288.06
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 46.53 $6,141.88
3137A2B34 FHMS K009 X1 FLT 1.26050 08/25/2020 US 1,035,325.41 $10,684.35
3137AME78 FHMS K017 X1 FLT 1.29777 12/25/2021 US 951,860.15 $23,778.51
3137AUPF0 FHMS K021 x1 FLT 1.43308 06/25/2022 US 800,452.55 $28,264.94
3137B3NB0 FHMS K030 X1 FLT 0.19050 04/25/2023 US 4,155,436.13 $27,111.31
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 168,223.04 $174,186.84
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 163,803.3 $170,837.26
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 48,109.99 $54,736.12
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 117,345.03 $124,407.64
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 169,616.03 $182,991.48
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3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 96,052.68 $101,807.91
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 200,084.04 $222,121.95
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 420,718.94 $437,192.66
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 41,412.54 $44,334.08
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 33,699.73 $37,705.14
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 56,797.77 $58,611.19
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 401,928.39 $415,994.33
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 76,863.88 $80,633.92
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 254,893.09 $267,842.03
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 237,070.69 $253,985.86
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 77,806.59 $83,293.23
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 258,671.55 $272,478.27
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 160,950.12 $172,435.03
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 291,632.58 $301,665.84
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 10,423.66 $10,575.07
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 12,507.57 $12,685.45
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 84,275.99 $90,883.24
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 77,235.63 $82,335.67
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 38,095.74 $40,686.73
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 396,618.58 $410,432.11
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 341,988.15 $363,125.06
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 142,900.75 $145,020.89
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 123,642.53 $129,203.36
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 421,087.86 $431,593.20
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 31,653.05 $36,012.02
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,591.26 $21,876.36
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 31,780.21 $33,210.32
316773100 FIFTH THIRD BANCORP US FITB 102.11 $3,031.52
32054K103 FIRST INDUSTRIAL REALTY TR US FR 320.7 $12,247.48
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 24,994.76 $24,995.26
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 24,164.31 $25,734.99
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 22,847.72 $23,675.95
35563BAJ9 FREMF 2014-K37 B FLT 4.55903 01/25/2047 US 137,410.65 $148,132.28
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 24,994.76 $25,525.90
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 59,934.78 $59,730.90
364760108 GAP INC US GPS 78.52 $1,531.23
369550108 GENERAL DYNAMICS CORP US GD 23.41 $4,353.76
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 300,504.35 $291,113.59
370334104 GENERAL MLS INC US GIS 83.43 $4,430.79
37045VAR1 GENERAL MOTORS CO FLT 3.35300 09/10/2021 US 213,468.27 $213,508.44
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 313,508.04 $313,977.08
372460105 GENUINE PARTS CO US GPC 26.79 $2,602.18
374297109 GETTY REALTY CORP US GTY 372.84 $11,177.60
375558103 GILEAD SCIENCES INC US GILD 130.42 $8,545.27
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 38,079.53 $38,650.73
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 17,378.86 $17,302.39
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 154,546.26 $164,414.01
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 209,599.31 $208,360.92
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 62.59 $6,264.45
40060QAA3 GTCR AP FINANCE INC 8.00000 05/15/2027 US 3,807.95 $3,893.63
4012250 AIRBUS SE FR AIR FP 126.35 $17,861.16
4031879 VEOLIA ENVIRONMENT FR VIE FP 130.16 $3,284.69
404119BX6 HCA INC 4.12500 06/15/2029 US 262,424.82 $268,820.11
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 7,615.91 $6,625.84
40414L109 HCP INC US HCP 671.52 $21,441.52
4057808 L'OREAL FR OR FP 57.46 $15,375.25
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 53.66 $22,163.03
406216101 HALLIBURTON CO US HAL 14,836.51 $341,239.72
4162791 THALES SA FR HO FP 16.06 $1,809.81
4163437 CAPGEMINI FR CAP FP 33.79 $4,289.56
416515104 HARTFORD FINL SVCS US HIG 41.33 $2,381.99
421946104 HEALTHCARE REALTY TRUST INC US HR 564.89 $18,065.30
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 900.48 $24,249.92
427866108 HERSHEY CO/THE US HSY 28.48 $4,321.96
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 90.56 $8,743.61
437076102 HOME DEPOT INC US HD 80.98 $17,303.70
438516106 HONEYWELL INTERNATIONAL INC US HON 60.18 $10,378.26
44107P104 HOST MARRIOTT CORP US HST 1,158.59 $20,147.88
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 31,780.21 $33,671.14
4457624 TRIGANO SA FR TRI FP 36.76 $3,688.41
452308109 ILLINOIS TOOL WKS INC US ITW 33.38 $5,148.88
45337C102 INCYTE CORP US INCY 3,377.69 $286,833.83
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,099.18 $13,574.90
458140100 INTEL CORP US INTC 342.58 $17,317.52
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,570.81 $313,731.07
4588364 MICHELIN (CGDE)-B FR ML FP 41.4 $4,576.82
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 77.76 $11,527.63
460146103 INTERNATIONAL PAPER CO US IP 49.28 $2,163.91
46187BAA1 IHSFR 2017-SFR2 A 3.16413 12/17/2036 US 62,693.45 $62,566.44
46187BAB9 IHSFR 2017-SFR2 B 3.46413 12/17/2036 US 47,842.48 $47,770.31
46187W107 INVITATION HOMES INC US INVH 1,111.57 $30,534.72
46625H100 JP MORGAN CHASE & CO US JPM 170.23 $19,746.88
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 59,038.41 $60,023.17
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 80,429.62 $81,398.94
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 242,210.27 $256,804.01
4682329 PERNOD-RICARD SA FR RI FP 49.85 $8,747.49
4741844 MERCK KGAA DE MRK GR 5,321.51 $542,763.19
476405105 JERNIGAN CAPITAL INC US JCAP 618.21 $12,265.19
478160104 JOHNSON & JOHNSON US JNJ 6,233.38 $811,711.26
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 43,204.07 $17,065.61
4821100 SOLVAY SA BE SOLB BB 218.43 $22,366.25
4824778 SGS SA-REG CH SGSN SW 1.66 $4,101.57
482480100 KLA-TENCOR CORPORATION US KLAC 26.03 $3,548.66
4834108 SCHNEIDER ELECTRIC SE FR SU FP 121.71 $10,500.92
4834777 VIVENDI FR VIV FP 230.34 $6,397.74
487836108 KELLOGG CO US K 47 $2,736.10
493267108 KEYCORP US KEY 139.3 $2,558.91
494368103 KIMBERLY CLARK CORP US KMB 41.17 $5,584.22
49446R109 KIMCO REALTY CORP US KIM 561.92 $10,794.41
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 279,317.54 $361,905.95
500255104 KOHLS CORP US KSS 36.6 $1,971.11
50050N103 KONTOOR BRANDS INC US KTB 6.76 $198.19
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 364,186.22 $363,822.03
501044101 KROGER CO US KR 87.57 $1,852.91
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 39,396.12 $40,085.55
5107401 BEIERSDORF AG DE BEI GR 101.84 $11,802.34
512807108 LAM RESEARCH CORP US LRCX 15.3 $3,191.87
5176177 ORANGE FR ORA FP 453.07 $6,715.57
5253973 HERMES INTERNATIONAL FR RMS FP 5.47 $3,841.47
529043101 LEXINGTON REALTY TRUST US LXP 1,112.41 $10,979.47
531172104 LIBERTY PROPERTY TRUST US LPT 318.21 $16,642.24
5330047 DASSAULT SYSTEMES SA FR DSY FP 32.96 $5,013.01
539830109 LOCKHEED MARTIN CORP US LMT 25.1 $9,091.96
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 14,401.36 $13,465.27
5474008 BANKINTER S.A. ES BKT SM 1,788.56 $11,601.98
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 3.81 $7,429.18
550021109 LULULEMON - ADR CA LULU 3,306.17 $631,776.79
5505072 KERING FR KER FP 16.89 $8,725.30
5545670 JUNGHEINRICH AG DE JUN3 GR 429.73 $9,580.88
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 31,419.67 $31,105.47
5608915 ALTEN SA FR ATE FP 57.46 $7,108.81
5633616 SOPRA STERIA GROUP FR SOP FP 78.16 $10,089.18
563571AL2 MANITOWOC COMPANY INC 9.00000 04/01/2026 US 7,615.91 $7,673.03
56585A102 MARATHON PETROLEUM CORP US MPC 86.64 $4,885.57
5669354 REPSOL SA ES REP SM 1,195.78 $18,966.13
5671735 SANOFI-AVENTIS FR SAN FP 255.68 $21,306.31
5701513 ELISA OYJ FI ELISA FH 429.19 $20,183.00
5727973 SIEMENS AG-REG DE SIE GR 84.95 $9,245.39
57636Q104 MASTERCARD INC-CLASS A US MA 3,483.02 $948,322.17
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 40.57 $2,401.39
585464100 MELCO CROWN ENTERTAINME-ADR HK MLCO 434.03 $9,752.56
58933Y105 MERCK & CO INC US MRK 3,710.53 $307,936.56
594918104 MICROSOFT CORP US MSFT 8,530.58 $1,162,462.72
595112103 MICRON TECHNOLOGY INC US MU 7,190.99 $322,803.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 121.02 $14,261.47
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW .33 $2,448.24
5980613 GIVAUDAN - REG CH GIVN SW 1.66 $4,417.35
5986622 KONINKLIJKE PHILIPS NV NL PHIA NA 463.17 $21,727.79
6055112 AYALA LAND INC PH ALI PM 10,051.38 $9,800.87
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 3,911.7 $6,894.60
60871R209 MOLSON COORS BREWING CO -B US TAP 33.05 $1,784.49
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,859.63 $580,881.75
6108179 HARMONIC DRIVE SYSTEMS INC JP 6324 JP 261.7 $9,856.16
615369105 MOODY'S CORPORATION US MCO 1,443.11 $309,316.82
61744YAG3 MORGAN STANLEY FLT 3.77988 05/08/2024 US 518,894.64 $526,133.22
6194037 KAKAO CORP KR 035720 KS 181.32 $19,315.79
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 3,807.95 $3,351.00
6211732 DAEWOO SHIPBUILDING& MARINE KR 042660 KS 221.69 $5,456.03
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 31,780.21 $31,502.14
6250025 DAIFUKU CO LTD JP 6383 JP 168.93 $9,239.19
6272483 DMCI HOLDINGS INC PH DMC PM 14,029.88 $2,795.64
6284864 GLOBE TELECOM INC PH GLO PM 142.41 $6,011.38
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 18,083.72 $11,609.95
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 17,378.86 $16,249.23
6344456 LG HOUSEHOLD & HEALTH CARE KR 051900 KS 18.08 $19,147.52
6356934 FANUC LTD JP 6954 JP 76.16 $13,535.48
637417106 NATIONAL RETAIL PROPERTIES US NNN 226.33 $11,823.49
637870106 NATIONAL STORAGE AFFILIATES US NSA 229.79 $6,960.45
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 182,899.06 $183,935.20
64110D104 NETAPP INC US NTAP 30.17 $1,764.76
6441506 HOYA CORP JP 7741 JP 245.09 $18,793.70
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 212.13 $19,259.19
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 515.17 $18,517.09
6465874 GALAXY ENTERTAINMENT GROUP L HK 27 HK 1,855.36 $12,630.02
6474494 JOLLIBEE FOODS CORP PH JFC PM 1,316.82 $6,691.64
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 180.98 $18,877.92
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 60,383.06 $61,983.10
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 84,230.46 $86,500.45
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 89,374.43 $91,714.14
6490995 KEYENCE CORP JP 6861 JP 16.61 $9,531.13
6499550 KYOWA KIRIN CO LTD JP 4151 JP 7,954.98 $131,106.15
6514442 METROPOLITAN BANK & TRUST PH MBT PM 5,077.66 $7,547.64
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 35,588.17 $24,199.95
6687571 NABTESCO CORP JP 6268 JP 354.46 $9,549.07
66987V109 NOVARTIS AG- REG CH NVS 10,719.87 $981,726.02
670346105 NUCOR CORP US NUE 53.59 $2,914.05
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 15,231.81 $15,917.25
6742340 SHANDONG WEIGAO CN 1066 HK 9,803.45 $9,346.24
674599105 OCCIDENTAL PETROLEUM CORP US OXY 71.93 $3,694.52
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 736.17 $4,360.93
680665AL0 OLIN CORP 5.62500 08/01/2029 US 15,231.81 $15,631.65
6818843 SM PRIME HOLDINGS INC PH SMPH PM 16,544.89 $11,828.82
6821120 SONIC HEALTHCARE LTD AU SHL AU 1,068.76 $20,454.86
6821506 SONY CORP FIRST SECTION JP 6758 JP 321.25 $18,270.48
6895200 TOHO CO LTD JP 9602 JP 430.62 $16,719.82
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 99,654.72 $101,871.14
6919519 UNIVERSAL ROBINA CORP PH URC PM 2,152.75 $6,745.93
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 413.95 $9,761.41
7021963 DEUTSCHE BOERSE AG DE DB1 GR 97.2 $13,494.15
7088429 AXA SA FR CS FP 450.09 $11,336.95
7103065 NOVARTIS AG-REG CH NOVN SW 252.7 $23,172.50
7103526 PEUGEOT SA FR UG FP 130.16 $3,072.15
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 112.44 $30,095.18
7110902 TECAN GROUP AG-REG CH TECN SW 17.72 $4,502.90
7123870 NESTLE SA-REGISTERED CH NESN SW 6,355.55 $674,242.97
7133608 EQUINOR ASA NO EQNR NO 1,120.61 $20,092.91
713448108 PEPSICO INC US PEP 4,678.39 $597,945.56
7145056 ENI SPA IT ENI IM 1,285.39 $20,079.46
717081103 PFIZER INC US PFE 419.42 $16,290.18
718546104 PHILLIPS 66 US PSX 41.17 $4,222.03
71943U104 PHYSICIANS REALTY TRUST US DOC 1,331.26 $22,911.06
7212477 ESSILORLUXOTTICA FR EL FP 68.89 $9,325.07
7262610 CREDIT AGRICOLE SA FR ACA FP 265.38 $3,159.11
729640102 PLYMOUTH INDUSTRIAL REIT INC US 369.97 $6,873.99
7309681 BNP PARIBAS FR BNP FP 264.96 $12,400.01
7339451 ORPEA SA FR ORP FP 76.5 $9,558.18
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 109.46 $4,193.21
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 497,991.44 $523,011.30
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 185,496.02 $188,053.43
74340W103 PROLOGIS US PLD 746.85 $60,203.18
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 316,992.03 $338,791.57
74460D109 PUBLIC STORAGE INC US PSA 124 $30,102.62
74834L100 QUEST DIAGNOSTICS INC US DGX 20.96 $2,140.00
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 35,588.17 $35,677.14
756109104 REALTY INCOME CORP US O 100.67 $6,967.21
7591EP100 REGIONS FINANCIAL CORP. US RF 124.16 $1,977.93
76131D103 RESTAURANT BRANDS INTERN CA QSR 182.98 $13,485.94
7698356 GETINGE AB-B SHS SE GETIB SS 816.7 $11,983.24
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 29,633.17 $30,326.28
773903109 ROCKWELL AUTOMATION INC US ROK 13.78 $2,215.15
7742468 GECINA SA FR GFC FP 62.1 $9,528.36
77714PAB5 SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 US 24,994.76 $24,588.60
7792559 HEINEKEN NV NL HEIA NA 182.98 $19,632.13
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 492.18 $31,238.53
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 110.78 $6,882.45
78409V104 S&P GLOBAL INC US SPGI 1,267.26 $310,414.94
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,238.31 $303,894.61
78442PGC4 SLM CORP 5.12500 04/05/2022 US 29,633.17 $29,929.50
78463V107 SPDR GOLD SHARES US 537.13 $71,550.82
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 158,271.42 $158,148.55
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 58,521.7 $58,907.93
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 79,818.95 $80,278.96
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 418,915.59 $477,672.72
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 324,607.94 $344,309.80
806857108 SCHLUMBERGER LTD NL SLB 7,419.11 $296,541.68
808513105 CHARLES SCHWAB CORP/THE US SCHW 5,977.8 $258,360.41
81141R100 SEA LTD - ADR SG SE 662.42 $23,251.00
812578102 SEATTLE GENETICS INC US SGEN 4,020.87 $304,420.38
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 85,127.55 $85,240.98
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 70,030.47 $64,983.46
81762P102 SERVICENOW INC US NOW 2,045.3 $567,344.67
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 24,994.76 $22,995.18
828806109 SIMON PROPERTY GROUP INC US SPG 294.53 $47,772.60
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 20.2 $2,246.31
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 15,275.23 $15,233.42
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 32,205.62 $32,435.47
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 22,728.41 $22,786.89
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 48,196.18 $48,360.27
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 44,424.39 $44,328.08
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 180,919.82 $181,420.17
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 142,759.19 $143,346.31
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,600.38 $40,565.54
835699307 SONY CORP SPONSORED ADR JP SNE 5,246.91 $298,339.49
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 365,037.04 $371,226.95
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 29,053.89 $25,058.98
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 14,401.36 $15,769.49
85254J102 STAG INDUSTRIAL INC US STAG 389.73 $11,582.71
855030AN2 STAPLES INC 7.50000 04/15/2026 US 24,164.31 $24,708.00
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B1YXBJ7 AIR LIQUIDE FR AI FP 94.23 $13,006.73
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BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 265.44 $5,328.51
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 845.2 $9,449.99
BD4TZK8 OCI NV NL OCI NA 150.03 $3,913.07
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 1,312.18 $14,095.29
BD9Y9B7 BASIC-FIT NV NL BFIT NA 438.66 $13,863.94
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 666.86 $19,807.73
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 2,144.08 $3,341.20
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 920.8 $10,205.99
BG7ZWY7 AMBEV SA BR ABEV3 BZ 2,096.4 $11,096.28
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 6,554.5 $10,956.34
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 18,112.09 $15,476.96
BJ2KSG2 AKZO NOBEL NL AKZA NA 261.31 $24,656.25
BJT1GR5 ALCON INC CH ALC SW 167.78 $9,716.12
BMJ6DW5 INFORMA PLC GB INF LN 1,945.05 $20,593.77
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 19,163.79 $892,897.85
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,701.63 $7,637.93
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,444.49 $14,369.80
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 17,300.54 $517,673.37
BSQXJ01 THULE GROUP AB/THE SE THULE SS 922.54 $20,151.10
BVSS790 ELIS SA FR ELIS FP 336.82 $6,256.63
BYXS699 QIAGEN N.V. NL QIA GR 338.97 $12,866.35
BYXZ2W5 RUMO SA BR RAIL3 BZ 506.78 $2,892.21
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 6,631.04 $666,664.55
BYZFYS3 SPIE SA FR SPIE FP 163.11 $3,023.42
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 2,772.68 $14,637.39
BYZR014 AMUNDI SA FR AMUN FP 130.99 $9,012.70
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 265.3 $8,338.41
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 357.52 $19,763.83
G27358103 DESPEGAR.COM CORP AR DESP 305.53 $3,974.91
G29183103 EATON CORP PLC US ETN 55.11 $4,529.49
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 32,610.67 $33,621.60
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 539.68 $9,331.00
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 154.67 $21,557.58
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 104.72 $4,444.43
G5960L103 MEDTRONIC INC IE MDT 10,507.21 $1,071,105.15
G97822103 PERRIGO CO PLC IE PRGO 310.17 $16,752.06
H01301128 ALCON INC CH ALC 2,177.95 $127,954.83
H1467J104 CHUBB LTD CH CB 33.98 $5,193.49
H8817H100 TRANSOCEAN LTD US RIG 14,337.91 $87,174.50
N22717107 CORE LABORATORIES N.V. NL CLB 146.22 $7,335.92
N47279109 INTERXION HOLDING NV NL INXN 6,628.96 $499,160.45
N53745100 LYONDELLBASELL INDU-CL A US LYB 50.97 $4,265.67
N72482123 QIAGEN N.V. ADR NL QGEN 208.67 $7,870.95
USD US DOLLAR US 592,404.66 $592,404.66

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 R Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 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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