Target 2025 Series Class R has merged into Pro-Blend Moderate Term Series Class R as of the close of business on Friday, 09/25/2020. The closing NAV for Target 2025 Series Class R is $10.6363 and the conversion ratio into Pro-Blend Moderate Term Series Class R is 0.953928.

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 investments 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 25% - 65%.

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

$10.60

Daily $ Change

$0.00

Daily % Change

0.00%

as of 09/24/2020

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
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 08/31/2020

YTD

10.23%

1 Year

13.74%

3 Year

7.94%

5 Year

7.47%

10 Year

---

Inception
(06/25/2012)

7.95%

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 1.42%
Net 1.22%*

*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 08/31/2020

GOVERNMENT AGENCY 7.46%
TREASURY NOTES 2.55%
TSY INFL IX N/B 2.00000 01/15/2026 2.43%
MASTERCARD INC-CLASS A 1.98%
VISA INC - CLASS A SHARES 1.81%
TSY INFL IX N/B 0.12500 04/15/2025 1.63%
JOHNSON & JOHNSON 1.48%
TREASURY BONDS 1.47%
EXPEDIA INC 1.46%
UNILEVER PLC - ADR 1.46%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 08/31/2020

Stocks 49.87%
Bonds 44.94%
Cash 5.19%

Detailed Asset Class Allocation

As of 08/31/2020

International Equities 14.59%
Small Capitalization 2.02%
Mid Capitalization 6.65%
Large Capitalization 26.61%
Long Term Fixed Income 15.57%
Intermediate Term Fixed Income 26.73%
Short Term Fixed Income 2.64%
Cash 5.19%

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

August Fund Holdings

As of 08/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 151,594.86 $177,713.97
00287Y109 ABBVIE INC US ABBV 217.99 $20,876.50
00507V109 ACTIVISION INC US ATVI 6,842.79 $571,509.96
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 23,006.99 $24,099.82
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 466,746.24 $467,795.43
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 22,488.47 $22,938.24
008492100 AGREE REALTY CORP US ADC 254.42 $17,026.01
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 325,159.66 $332,489.78
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 25,997.4 $26,989.69
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 14,831.37 $16,017.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 60.69 $10,218.80
01609W102 ALIBABA GROUP - ADR CN BABA 2,232.37 $640,757.61
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 539,553.25 $611,115.97
020002101 ALLSTATE CORPORATION US ALL 65 $6,045.31
02079K305 ALPHABET INC-CL A US GOOGL 356.32 $580,634.41
023135106 AMAZON.COM INC US AMZN 254.44 $878,063.41
02319V103 AMBEV SA-ADR BR ABEV 5,958.41 $13,406.41
0237400 DIAGEO PLC GB DGE LN 7,203.55 $240,679.83
02406PBA7 AMERICAN AXLE & MFG INC 6.87500 07/01/2028 US 13,517.22 $14,077.65
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 535 $18,136.37
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,074.53 $30,774.57
03027X100 AMERICAN TOWER REIT INC US AMT 1,490.1 $371,259.46
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 378,070.81 $437,338.73
03064D108 AMERICOLD REALTY TRUST US COLD 703.11 $26,964.14
03217CAA4 AMS AG 7.00000 07/31/2025 AT 119,616.62 $124,401.29
032654105 ANALOG DEVICES INC US ADI 55.67 $6,507.03
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 25,997.4 $23,202.68
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 13,517.22 $12,064.12
03748R754 APARTMENT INVT & MGMT CO -A US AIV 447.51 $16,123.83
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,486.01 $15,112.67
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 127.3 $5,698.10
053015103 AUTOMATIC DATA PROCESSING US ADP 54.37 $7,562.72
053484101 AVALONBAY COMMUNITIES INC US AVB 134.53 $21,263.59
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 183,814.5 $158,039.83
055622104 BP PLC-SPONS ADR GB BP 459.39 $9,615.10
05722G100 BAKER HUGHES CO US BKR 293.83 $4,195.85
060505104 BANK OF AMERICA CORP US BAC 935.85 $24,088.89
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 236,363.53 $264,885.15
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 16,507.64 $16,301.29
084423102 WR BERKLEY CORP US WRB 6,125.96 $380,115.96
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,735.41 $596,427.86
086516101 BEST BUY INC US BBY 70.02 $7,765.87
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,416.51 $188,560.47
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,541.37 $26,300.92
09857L108 BOOKING HOLDINGS INC US BKNG 150.49 $287,496.77
105368203 BRANDYWINE REALTY TRUST US BDN 1,015.7 $11,304.73
110122108 BRISTOL MYERS SQUIBB CO US BMY 303.05 $18,849.96
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 75,520.32 $148.02
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,650.04 $151,457.60
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 253,031.69 $257,555.01
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 45.04 $4,427.65
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 43,397.21 $44,956.50
12572Q105 CME GROUP INC US CME 872.65 $153,473.35
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 179,548.1 $187,925.45
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 71,078.32 $72,539.48
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 213,180.96 $220,510.76
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 108,770.33 $112,621.99
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 16,507.64 $16,532.07
127097103 CABOT OIL & GAS CORP US COG 44,798.92 $849,835.50
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 11,045.33 $10,493.06
133131102 CAMDEN PROPERTY TRUST US CPT 262.12 $23,837.09
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 359,091.28 $393,926.65
13321L108 CAMECO CORP CA CCJ 31,356.02 $362,789.17
149123101 CATERPILLAR INC US CAT 93.7 $13,334.03
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 67,379.02 $66,810.08
15135UAS8 CENOVUS ENERGY INC 5.37500 07/15/2025 CA 3,508.94 $3,571.63
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 939.04 $578,085.42
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 101,305.68 $101,899.82
166764100 CHEVRON CORP US CVX 1,412.23 $118,528.69
172062101 CINCINNATI FINANCIAL CORP US CINF 35.61 $2,827.62
17275R102 CISCO SYSTEMS INC US CSCO 531.07 $22,421.87
172967424 CITIGROUP INC US C 281.59 $14,394.66
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 393,939.22 $457,968.03
191216100 COCA COLA CO/THE US KO 15,167.21 $751,232.13
194162103 COLGATE-PALMOLIVE CO US CL 153.68 $12,181.01
20030N101 COMCAST CORP-CL A US CMCSA 403.77 $18,092.89
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 375,996.73 $417,348.40
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 169,453.2 $174,664.01
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 351.01 $16,392.03
20449X401 COMPASS GROUP PLC ADR GB CMPGY 20,137.46 $323,206.21
205887102 CONAGRA BRAND INC. US CAG 135.83 $5,210.38
20605P101 CONCHO RESOURCES INC US CXO 7,649.24 $397,607.67
20825C104 CONOCOPHILLIPS US COP 5,811.29 $220,189.81
21036P108 CONSTELLATION BRANDS INC-A US STZ 31.5 $5,811.28
217204106 COPART INC US CPRT 2,832.45 $292,648.62
222795502 COUSINS PROPERTIES INC US CUZ 866.12 $25,853.73
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 217,625.41 $222,899.32
22822V101 CROWN CASTLE INTL CORP US CCI 192.7 $31,457.84
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 48,016.66 $52,776.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 36,204.44 $37,114.60
229663109 CUBESMART US CUBE 338.65 $10,708.26
231021106 CUMMINS INC US CMI 39.22 $8,128.45
253868103 DIGITAL REALTY TRUST INC US DLR 307.19 $47,813.38
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 162,519.48 $171,974.48
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 339,316.11 $406,977.52
256746108 DOLLAR TREE STORES INC US DLTR 2,817.58 $271,248.60
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 230,382.7 $262,249.86
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 26,515.92 $27,576.56
25960P109 DOUGLAS EMMETT INC US DEI 547.94 $15,298.47
260003108 DOVER CORP US DOV 31.4 $3,448.66
262006208 DREYFUS GVT CSH MANAGEMENT US 3,568,423.53 $3,568,423.53
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 17,026.16 $20,218.56
264411505 DUKE RLTY INVTS INC US DRE 581.23 $22,406.59
26875P101 EOG RESOURCES INC US EOG 6,950.79 $315,149.00
26884L109 EQT CORP US EQT 18,025.77 $286,069.04
26884LAG4 EQT CORP 8.75000 02/01/2030 US 13,517.22 $16,186.87
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,670.3 $41,413.41
277276101 EASTGROUP PROPERTIES US EGP 49.36 $6,572.33
285512109 ELECTRONIC ARTS US EA 3,012.32 $420,128.40
2866857 LUNDIN MINING CORP CA LUN CN 3,598.43 $22,539.35
291011104 EMERSON ELEC CO US EMR 135.72 $9,428.80
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 418,899.59 $451,443.66
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 100,580.28 $101,700.71
29444U700 EQUINIX INC US EQIX 748.99 $591,533.93
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 364.72 $24,177.59
29476L107 EQUITY RESIDENTIAL US EQR 246.78 $13,930.91
297178105 ESSEX PROPERTY TRUST INC US ESS 28.9 $6,257.38
30212P303 EXPEDIA INC US EXPE 9,681.55 $950,243.91
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 179,147.82 $196,852.24
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 299,041.56 $300,973.03
30225T102 EXTRA SPACE STORAGE INC US EXR 73.24 $7,803.89
30231G102 EXXON MOBIL CORP US XOM 5,926.76 $236,714.88
302491303 FMC CORP US FMC 2,773.1 $296,333.06
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 12,998.7 $11,698.83
30287EAE0 FREMF 2014-K41 B FLT 3.96344 11/25/2047 US 50,296.44 $55,160.19
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 11,543,920.96 $21,721.04
30291XAE2 FREMF 2014-K715 B FLT 4.11951 02/25/2046 US 48,844.59 $49,156.74
30303M102 FACEBOOK INC -A US FB 1,945.16 $570,320.14
311900104 FASTENAL CO US FAST 150.77 $7,366.79
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 12,734.2 $14,966.39
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 13,811.28 $15,984.31
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 14,519.29 $16,771.89
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 13,879.16 $16,117.86
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 89,907.84 $97,094.71
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 17,439.75 $20,184.58
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 62,693.46 $69,082.00
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 10,700.09 $11,790.70
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 14,050.44 $15,482.35
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 204,467.35 $216,478.92
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 20,142.75 $22,025.12
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 107,063.32 $116,801.51
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 231,648.3 $258,263.10
3133A6DB4 FEDERAL NATL MTG ASSN FR QB0098 2.50000 06/01/2050 US 519,028.33 $546,110.12
3136AY6W8 FNA 2017-M15 A1 FLT 3.05797 09/25/2027 US 170,758.43 $185,587.48
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 76,085.97 $79,040.78
3137AME78 FHMS K017 X1 FLT 1.43314 12/25/2021 US 553,208.34 $6,113.51
3137AUPF0 FHMS K021 x1 FLT 1.54441 06/25/2022 US 895,547.14 $17,436.57
3137B3NB0 FHMS K030 X1 FLT 0.28647 04/25/2023 US 4,629,007.41 $19,059.01
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 76,368.76 $77,962.25
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 47,272.79 $47,913.94
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 46,510.73 $54,596.99
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 95,270.21 $105,180.15
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 114,207.5 $127,427.27
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 99,273.35 $110,584.42
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 71,257.98 $78,589.06
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 158,085.15 $186,765.98
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 19,618.1 $21,631.34
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 31,243.39 $36,551.88
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 61,065.67 $65,109.59
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 297,126.7 $319,564.70
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 201,029.16 $214,898.48
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 2,134.34 $2,151.19
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2,354.55 $2,376.20
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 60,303.69 $67,185.09
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 52,154.02 $57,454.40
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,356.21 $37,848.47
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 169,366.42 $178,825.55
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 73,993.05 $78,448.60
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 187,674.17 $194,422.05
31418DQ21 FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 US 345,853.4 $364,093.57
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 660,695.69 $695,539.73
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 379,165.66 $391,476.83
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 15,605.63 $18,395.09
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 9,829.79 $11,405.26
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 26,515.92 $29,233.81
316773100 FIFTH THIRD BANCORP US FITB 187.19 $3,867.28
32054K103 FIRST INDUSTRIAL REALTY TR US FR 463.68 $19,775.81
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 23,006.99 $23,122.02
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 185,888.58 $190,407.91
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 38,996.11 $51,115.12
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 13,517.22 $13,657.53
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 13,517.22 $13,111.71
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 13,517.22 $14,413.01
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 16,507.64 $18,019.24
35563BAJ9 FREMF 2014-K37 B FLT 4.71484 01/25/2047 US 158,201.31 $173,869.56
36237HAA9 G-III APPAREL GROUP LTD 7.87500 08/15/2025 US 23,006.99 $22,863.20
36257MAA3 GSMS 2019-70P A 1.16188 10/15/2036 US 192,387.93 $185,159.67
369550108 GENERAL DYNAMICS CORP US GD 53.57 $8,000.29
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 291,710.87 $228,858.85
370334104 GENERAL MLS INC US GIS 135.93 $8,692.86
372460105 GENUINE PARTS CO US GPC 45.85 $4,329.86
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 20,016.57 $21,095.07
374297109 GETTY REALTY CORP US GTY 458.45 $13,428.09
375558103 GILEAD SCIENCES INC US GILD 201.64 $13,459.29
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 172,231.86 $180,581.35
384802104 WW GRAINGER INC US GWW 10.73 $3,922.60
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 42,762.38 $597,818.09
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 164 $12,707.00
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 118.39 $13,432.24
4012250 AIRBUS SE FR AIR FP 145.53 $11,967.92
4031976 ADIDAS AG DE ADS GR 1,044.19 $317,743.85
404119BX6 HCA INC 4.12500 06/15/2029 US 286,284.26 $329,848.14
416515104 HARTFORD FINL SVCS US HIG 98.71 $3,992.95
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 13,517.22 $13,584.81
421946104 HEALTHCARE REALTY TRUST INC US HR 250.48 $7,226.22
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 442.08 $11,666.50
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,022.68 $28,266.83
427866108 HERSHEY CO/THE US HSY 47.25 $7,023.43
431571AB4 HILLENBRAND INC 4.50000 09/15/2026 US 23,006.99 $24,675.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 3,591.01 $324,484.00
437076102 HOME DEPOT INC US HD 122.99 $35,056.75
438516106 HONEYWELL INTERNATIONAL INC US HON 103.03 $17,056.24
440452100 HORMEL FOODS CORP US HRL 96.61 $4,925.07
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 23,006.99 $26,151.44
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 13,517.22 $14,767.57
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 29,506.34 $30,981.66
452308109 ILLINOIS TOOL WKS INC US ITW 59.99 $11,850.46
45337C102 INCYTE CORP US INCY 1,971.23 $189,927.64
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 16,507.64 $16,879.06
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 23,006.99 $21,856.64
45778Q107 INSPERITY INC US NSP 4,203.63 $283,198.79
458140100 INTEL CORP US INTC 473.79 $24,139.53
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 2,492.79 $144,482.27
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 5,811.03 $617,305.20
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 133.72 $16,489.39
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 22.87 $2,831.33
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 33,015.28 $35,739.04
46187BAA1 IHSFR 2017-SFR2 A 1.01188 12/17/2036 US 55,831.46 $55,418.52
46187BAB9 IHSFR 2017-SFR2 B 1.31188 12/17/2036 US 44,579.12 $44,503.28
46187W107 INVITATION HOMES INC US INVH 1,387.28 $39,717.68
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 16,507.64 $16,942.94
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 119,616.62 $123,709.38
46625H100 JP MORGAN CHASE & CO US JPM 300.35 $30,092.13
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 39,461.36 $41,254.80
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 58,911.46 $59,588.53
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 427,750.13 $460,076.71
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 50,882.29 $52,297.48
478160104 JOHNSON & JOHNSON US JNJ 6,294.13 $965,581.88
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 12,998.7 $1,819.82
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 13,517.22 $14,767.57
482480100 KLA-TENCOR CORPORATION US KLAC 37.22 $7,635.08
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 23,006.99 $25,020.10
49427F108 KILROY REALTY CORP US KRC 384.72 $22,513.64
494368103 KIMBERLY CLARK CORP US KMB 67.91 $10,714.15
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 311,244.63 $414,038.88
501044101 KROGER CO US KR 191.5 $6,832.76
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 23,006.99 $21,856.64
5107401 BEIERSDORF AG DE BEI GR 268.87 $31,078.98
512816109 LAMAR ADVERTISING CO-A US LAMR 152.72 $10,572.78
53223X107 LIFE STORAGE INC US LSI 171.69 $18,101.49
532457108 ELI LILLY & CO US LLY 96.5 $14,320.26
539830109 LOCKHEED MARTIN CORP US LMT 42.13 $16,442.19
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 12,998.7 $13,254.65
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 26,515.92 $4,242.55
550021109 LULULEMON - ADR CA LULU 850.01 $319,322.26
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 16,507.64 $15,764.79
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 20,016.57 $21,017.40
56585A102 MARATHON PETROLEUM CORP US MPC 174.35 $6,182.35
573284106 MARTIN MARIETTA MATERIALS US MLM 726.83 $147,452.51
57636Q104 MASTERCARD INC-CLASS A US MA 3,593.11 $1,287,014.59
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 3,508.94 $3,315.94
58933Y105 MERCK & CO INC US MRK 303.05 $25,841.42
594918104 MICROSOFT CORP US MSFT 2,653.86 $598,523.98
595112103 MICRON TECHNOLOGY INC US MU 15,354.29 $698,773.56
59522J103 MID-AMERICA APARTMENT COMM US MAA 230.98 $27,052.07
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,889.87 $636,186.35
615369105 MOODY'S CORPORATION US MCO 798.69 $235,325.27
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 20,016.57 $13,711.35
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 7,017.87 $5,123.05
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 351.01 $7,312.26
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 13,517.22 $9,867.57
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 15,854.13 $32,923.24
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 23,006.99 $23,984.79
63938EAC8 NAVSL 2014-1 A3 FLT 0.68513 06/25/2031 US 160,442.82 $154,936.92
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MH 9,489.77 $10,272.67
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 49,883.42 $50,149.27
64032XAA3 NSLT 2012-3A A MTGE FLT 0.87513 02/25/2045 US 193,823.39 $189,610.14
64033GAA9 NSLT 2013-5A A MTGE FLT 0.80513 01/25/2037 US 258,807.31 $248,640.82
64033QAB5 NSLT 2015-2A A2 0.77513 09/25/2047 US 384,686.56 $371,791.86
64110D104 NETAPP INC US NTAP 62.09 $2,942.56
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 25,997.4 $26,379.57
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 45,211.07 $48,401.15
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 61,328.04 $66,210.44
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 67,557.9 $72,455.46
655844108 NORFOLK SOUTHN CORP US NSC 37.22 $7,910.12
6642321 NIKON CORP JP 7731 JP 28,306.88 $221,690.78
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 72,011.38 $1,152.18
66987V109 NOVARTIS AG- REG CH NVS 10,581.91 $910,679.12
670346105 NUCOR CORP US NUE 96.5 $4,387.08
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 15,989.12 $16,095.73
6742340 SHANDONG WEIGAO CN 1066 HK 19,650.04 $45,786.16
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 13,517.22 $15,274.46
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 22,488.47 $14,190.22
6821506 SONY CORP FIRST SECTION JP 6758 JP 280.71 $21,981.21
682189AQ8 ON SEMICONDUCTOR CORP 3.87500 09/01/2028 US 12,998.7 $13,563.89
68389X105 ORACLE CORP US ORCL 276.57 $15,825.30
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 23,006.99 $22,374.30
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 186,165.69 $188,845.16
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,222.41 $63,738.64
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 3,508.94 $3,343.56
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 15,989.12 $16,356.87
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 143,541.61 $151,251.76
693475105 PNC FINANCIAL SERVICES GROUP US PNC 60.09 $6,682.10
693506107 PPG INDUSTRIES INC US PPG 42.13 $5,072.62
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 20,016.57 $21,335.67
701094104 PARKER HANNIFIN CORP US PH 25.68 $5,290.16
7021963 DEUTSCHE BOERSE AG DE DB1 GR 342.68 $64,830.15
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,915.22 $390,972.50
7123870 NESTLE SA-REGISTERED CH NESN SW 5,528.6 $665,904.46
713448108 PEPSICO INC US PEP 2,208.85 $309,370.98
717081103 PFIZER INC US PFE 695.99 $26,301.28
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 19,498.05 $17,919.88
71943U104 PHYSICIANS REALTY TRUST US DOC 465.97 $8,457.27
723787107 PIONEER NATURAL RESOURCES CO US PXD 4,103.65 $426,492.26
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 491,948.01 $552,276.06
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 13,517.22 $14,193.08
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 179,840 $186,225.24
74340W103 PROLOGIS US PLD 954.72 $97,248.07
74460D109 PUBLIC STORAGE INC US PSA 129.8 $27,569.38
747525103 QUALCOMM INC US QCOM 132.11 $15,734.55
74834L100 QUEST DIAGNOSTICS INC US DGX 38.62 $4,296.36
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 32,496.76 $32,594.25
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 218.69 $13,339.94
756109104 REALTY INCOME CORP US O 161.92 $10,044.05
758849103 REGENCY CENTERS CORP US REG 114.77 $4,557.71
7591EP100 REGIONS FINANCIAL CORP. US RF 272.36 $3,148.47
76131D103 RESTAURANT BRANDS INTERN CA QSR 776.8 $42,056.09
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 433.37 $20,793.18
7698356 GETINGE AB-B SHS SE GETIB SS 1,573.49 $35,059.13
773903109 ROCKWELL AUTOMATION INC US ROK 26.48 $6,105.50
778296AE3 ROSS STORES INC 5.45000 04/15/2050 US 122,727.74 $157,804.53
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,613.19 $101,530.75
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 5,643.55 $456,563.47
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 257,077.13 $258,814.80
78409V104 S&P GLOBAL INC US SPGI 592.89 $217,246.54
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,358.84 $415,899.76
78442GQJ8 SLMA 2005-7 A4 FLT 0.39450 10/25/2029 US 117,929.66 $115,735.59
78442PGC4 SLM CORP 5.12500 04/05/2022 US 32,496.76 $33,471.66
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 273,285.56 $282,899.04
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 81,954.93 $83,055.05
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 32,792.79 $32,975.53
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 12,179.18 $12,256.68
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 467,541.87 $562,323.21
79466L302 SALESFORCE.COM US CRM 1,577.91 $430,217.86
806857108 SCHLUMBERGER LTD NL SLB 9,607.62 $182,640.90
81141R100 SEA LTD - ADR SG SE 168.55 $25,756.07
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 127,741.97 $133,645.39
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 58,696.1 $60,382.47
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 47,459.67 $47,807.59
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 193,684.34 $197,268.99
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 149,108.79 $153,415.89
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 41,815.16 $42,381.89
81762P102 SERVICENOW INC US NOW 593.89 $286,267.22
83088M102 SKYWORKS SOLUTIONS INC US SWKS 34.31 $4,969.51
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 33.5 $4,026.33
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 32,399.64 $33,277.70
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 165,076.38 $170,446.93
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 2,745.31 $2,750.61
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 77,547.98 $78,494.49
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 57,511.35 $58,175.57
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 3,937.61 $3,941.21
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 138,958.27 $144,490.90
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 339,074.7 $370,076.15
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 15,989.12 $18,347.44
85254J102 STAG INDUSTRIAL INC US STAG 337.18 $10,890.87
854502101 STANLEY WORKS/THE US SWK 30.1 $4,854.69
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 23,006.99 $22,144.23
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.63188 11/15/2027 US 186,995.1 $130,937.65
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 20,016.57 $20,266.78
866674104 SUN COMMUNITIES US SUI 267.89 $39,936.32
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 143,631.21 $144,771.49
87105L104 SWITCH INC - A US SWCH 1,047.94 $18,024.61
871829107 SYSCO CORP US SYY 5,423.62 $326,176.71
872540AU3 TJX COS INC 4.50000 04/15/2050 US 194,497.72 $247,440.58
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 20,016.57 $20,684.93
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 3,830.38 $3,838.13
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 7,017.87 $1,561.48
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 375,996.73 $433,896.60
88146M101 TERRENO REALTY CORP US TRNO 243.98 $14,550.73
882508104 TEXAS INSTRUMENTS INC US TXN 132.92 $18,894.24
883556102 THERMO FISHER SCIENTIFIC INC US TMO 729.62 $312,991.18
88579Y101 3M CO US MMM 95 $15,486.40
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,805.16 $269,280.14
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 103,126.85 $105,304.00
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 101,874.64 $104,745.02
89177EAA7 TPMT 2019-HY1 A1 1.17513 10/25/2048 US 91,653.5 $91,462.73
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 23,006.99 $21,223.95
89417E109 TRAVELLERS COS INC US TRV 54.37 $6,309.43
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 139,627.64 $139,995.18
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 148,691.64 $154,074.28
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 60,148.33 $60,136.06
89832Q109 TRUIST FINANCIAL CORP US TFC 266.74 $10,352.35
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 43,023.56 $41,410.18
902494103 TYSON FOODS INC -CL A US TSN 80.65 $5,064.83
902653104 UDR INC US UDR 231.73 $8,066.68
902973304 U.S. BANCORP US USB 283.9 $10,333.90
904767704 UNILEVER PLC - ADR GB UL 15,934.69 $949,388.65
907818108 UNION PAC CORP US UNP 102.12 $19,651.69
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,328,696.64 $1,581,330.66
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 707,568.37 $956,820.37
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 558,648.39 $598,823.06
912828YN4 US TREASURY FRN FLT 0.40503 10/31/2021 US 1,057,971.28 $1,061,392.00
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 986,947.21 $1,061,315.22
91704F104 URBAN EDGE PROPERTIES US UE 717.37 $7,575.47
918204108 VF CORP US VFC 92.89 $6,107.62
91913Y100 VALERO ENERGY US VLO 97.8 $5,143.52
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 483,893.1 $657,328.57
92826C839 VISA INC - CLASS A SHARES US V 5,558.52 $1,178,350.91
92826CAK8 VISA INC 2.70000 04/15/2040 US 400,957.09 $433,099.06
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 248,843.72 $273,505.43
929160109 VULCAN MATERIALS CO US VMC 2,486.91 $298,428.65
93065PAA9 WBHT 2019-WBM A FLT 1.21188 12/15/2033 US 137,125.6 $130,264.30
931142103 WAL MART STORES US WMT 265.13 $36,813.77
94106L109 WASTE MANAGEMENT INC US WM 83.56 $9,525.95
949746101 WELLS FARGO COMPANY US WFC 601.4 $14,523.88
95040Q104 WELLTOWER INC. US WELL 353.71 $20,345.43
95081QAP9 WESCO DISTRIBUTION INC 7.25000 06/15/2028 US 20,016.57 $22,328.19
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 23,006.99 $24,962.58
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 76,038.84 $17,108.74
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 329,982.75 $364,581.13
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 322.11 $16,865.47
983919101 XILINX INC US XLNX 45.85 $4,775.50
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,810.78 $63,181.17
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,729.01 $12,497.69
B1Y47Y7 GERRESHEIMER AG DE GXI GR 383.23 $45,207.13
B1Y9TB3 DANONE FR BN FP 662.12 $43,538.34
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,334.11 $42,355.30
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 359,053.88 $16,645.91
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 43,701.21 $34,963.65
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 584,204.12 $27,581.63
B4YVF56 BRENNTAG AG DE BNR GR 521.64 $32,683.87
B63QM77 NEXON CO LTD JP 3659 JP 26,962.93 $630,916.62
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 112,379.78 $5,803.36
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 361.66 $10,626.30
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,138.32 $10,146.34
BJ2KSG2 AKZO NOBEL NL AKZA NA 339.67 $33,526.99
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 87,084.17 $113,090.53
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 33,015.28 $33,223.27
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 9,630.41 $657,933.58
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,684.86 $70,922.07
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 1,358.87 $38,207.67
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,926.66 $21,879.48
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 954.91 $22,121.81
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 5,649.81 $328,363.22
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 12,779.7 $20,919.50
BZ1HM42 ADYEN NV NL ADYEN NA 10.53 $17,744.48
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 814.09 $20,514.98
G1151C101 ACCENTURE PLC - CL A IE ACN 228.73 $54,880.23
G29183103 EATON CORP PLC US ETN 87.98 $8,982.66
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 194.31 $7,914.18
G5494J103 LINDE PLC GB LIN 58.48 $14,604.77
G5960L103 MEDTRONIC INC IE MDT 3,631.2 $390,245.13
G85158106 STONECO LTD-A BR STNE 314.49 $16,038.99
G8994E103 TRANE TECHNOLOGIES IE TT 45.04 $5,332.55
G97822103 PERRIGO CO PLC IE PRGO 605.61 $31,673.46
H01301128 ALCON INC CH ALC 14,143.13 $810,966.94
H1467J104 CHUBB LTD CH CB 77.95 $9,743.33
H2906T109 GARMIN LTD CH GRMN 39.92 $4,136.35
N53745100 LYONDELLBASELL INDU-CL A US LYB 85.67 $5,609.43

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
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 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).

Target 2025 Series Class R has merged into Pro-Blend Moderate Term Series Class R as of the close of business on Friday, 09/25/2020. The closing NAV for Target 2025 Series Class R is $10.6363 and the conversion ratio into Pro-Blend Moderate Term Series Class R is 0.953928.

Daily Price

$10.60

Daily $ Change

$0.00

Daily % Change

0.00%

as of 09/24/2020

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
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 investments 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 25% - 65%.

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 08/31/2020

YTD

10.23%

1 Year

13.74%

3 Year

7.94%

5 Year

7.47%

10 Year

---

Inception
(06/25/2012)

7.95%

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 1.42%
Net 1.22%*

*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 08/31/2020

GOVERNMENT AGENCY 7.46%
TREASURY NOTES 2.55%
TSY INFL IX N/B 2.00000 01/15/2026 2.43%
MASTERCARD INC-CLASS A 1.98%
VISA INC - CLASS A SHARES 1.81%
TSY INFL IX N/B 0.12500 04/15/2025 1.63%
JOHNSON & JOHNSON 1.48%
TREASURY BONDS 1.47%
EXPEDIA INC 1.46%
UNILEVER PLC - ADR 1.46%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 08/31/2020

Stocks
49.87%
Bonds
44.94%
Cash
5.19%

Detailed Asset Class Allocation

As of 08/31/2020

International Equities
14.59%
Small Capitalization
2.02%
Mid Capitalization
6.65%
Large Capitalization
26.61%
Long Term Fixed Income
15.57%
Intermediate Term Fixed Income
26.73%
Short Term Fixed Income
2.64%
Cash
5.19%

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

August Fund Holdings

As of 08/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 151,594.86 $177,713.97
00287Y109 ABBVIE INC US ABBV 217.99 $20,876.50
00507V109 ACTIVISION INC US ATVI 6,842.79 $571,509.96
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 23,006.99 $24,099.82
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 466,746.24 $467,795.43
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 22,488.47 $22,938.24
008492100 AGREE REALTY CORP US ADC 254.42 $17,026.01
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 325,159.66 $332,489.78
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 25,997.4 $26,989.69
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 14,831.37 $16,017.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 60.69 $10,218.80
01609W102 ALIBABA GROUP - ADR CN BABA 2,232.37 $640,757.61
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 539,553.25 $611,115.97
020002101 ALLSTATE CORPORATION US ALL 65 $6,045.31
02079K305 ALPHABET INC-CL A US GOOGL 356.32 $580,634.41
023135106 AMAZON.COM INC US AMZN 254.44 $878,063.41
02319V103 AMBEV SA-ADR BR ABEV 5,958.41 $13,406.41
0237400 DIAGEO PLC GB DGE LN 7,203.55 $240,679.83
02406PBA7 AMERICAN AXLE & MFG INC 6.87500 07/01/2028 US 13,517.22 $14,077.65
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 535 $18,136.37
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,074.53 $30,774.57
03027X100 AMERICAN TOWER REIT INC US AMT 1,490.1 $371,259.46
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 378,070.81 $437,338.73
03064D108 AMERICOLD REALTY TRUST US COLD 703.11 $26,964.14
03217CAA4 AMS AG 7.00000 07/31/2025 AT 119,616.62 $124,401.29
032654105 ANALOG DEVICES INC US ADI 55.67 $6,507.03
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 25,997.4 $23,202.68
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 13,517.22 $12,064.12
03748R754 APARTMENT INVT & MGMT CO -A US AIV 447.51 $16,123.83
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,486.01 $15,112.67
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 127.3 $5,698.10
053015103 AUTOMATIC DATA PROCESSING US ADP 54.37 $7,562.72
053484101 AVALONBAY COMMUNITIES INC US AVB 134.53 $21,263.59
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 183,814.5 $158,039.83
055622104 BP PLC-SPONS ADR GB BP 459.39 $9,615.10
05722G100 BAKER HUGHES CO US BKR 293.83 $4,195.85
060505104 BANK OF AMERICA CORP US BAC 935.85 $24,088.89
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 236,363.53 $264,885.15
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 16,507.64 $16,301.29
084423102 WR BERKLEY CORP US WRB 6,125.96 $380,115.96
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,735.41 $596,427.86
086516101 BEST BUY INC US BBY 70.02 $7,765.87
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,416.51 $188,560.47
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,541.37 $26,300.92
09857L108 BOOKING HOLDINGS INC US BKNG 150.49 $287,496.77
105368203 BRANDYWINE REALTY TRUST US BDN 1,015.7 $11,304.73
110122108 BRISTOL MYERS SQUIBB CO US BMY 303.05 $18,849.96
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 75,520.32 $148.02
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,650.04 $151,457.60
12510GAB8 CCG 2019-1 A2 2.80000 09/14/2026 US 253,031.69 $257,555.01
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 45.04 $4,427.65
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 43,397.21 $44,956.50
12572Q105 CME GROUP INC US CME 872.65 $153,473.35
12646WAH7 CSMC 2013-IVR2 A2 3.00000 04/25/2043 US 179,548.1 $187,925.45
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 71,078.32 $72,539.48
12647PAK4 CSMC 2013-7 A6 3.50000 08/25/2043 US 213,180.96 $220,510.76
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 108,770.33 $112,621.99
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 16,507.64 $16,532.07
127097103 CABOT OIL & GAS CORP US COG 44,798.92 $849,835.50
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 11,045.33 $10,493.06
133131102 CAMDEN PROPERTY TRUST US CPT 262.12 $23,837.09
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 359,091.28 $393,926.65
13321L108 CAMECO CORP CA CCJ 31,356.02 $362,789.17
149123101 CATERPILLAR INC US CAT 93.7 $13,334.03
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 67,379.02 $66,810.08
15135UAS8 CENOVUS ENERGY INC 5.37500 07/15/2025 CA 3,508.94 $3,571.63
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 939.04 $578,085.42
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 101,305.68 $101,899.82
166764100 CHEVRON CORP US CVX 1,412.23 $118,528.69
172062101 CINCINNATI FINANCIAL CORP US CINF 35.61 $2,827.62
17275R102 CISCO SYSTEMS INC US CSCO 531.07 $22,421.87
172967424 CITIGROUP INC US C 281.59 $14,394.66
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 393,939.22 $457,968.03
191216100 COCA COLA CO/THE US KO 15,167.21 $751,232.13
194162103 COLGATE-PALMOLIVE CO US CL 153.68 $12,181.01
20030N101 COMCAST CORP-CL A US CMCSA 403.77 $18,092.89
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 375,996.73 $417,348.40
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 169,453.2 $174,664.01
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 351.01 $16,392.03
20449X401 COMPASS GROUP PLC ADR GB CMPGY 20,137.46 $323,206.21
205887102 CONAGRA BRAND INC. US CAG 135.83 $5,210.38
20605P101 CONCHO RESOURCES INC US CXO 7,649.24 $397,607.67
20825C104 CONOCOPHILLIPS US COP 5,811.29 $220,189.81
21036P108 CONSTELLATION BRANDS INC-A US STZ 31.5 $5,811.28
217204106 COPART INC US CPRT 2,832.45 $292,648.62
222795502 COUSINS PROPERTIES INC US CUZ 866.12 $25,853.73
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 217,625.41 $222,899.32
22822V101 CROWN CASTLE INTL CORP US CCI 192.7 $31,457.84
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 48,016.66 $52,776.76
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 36,204.44 $37,114.60
229663109 CUBESMART US CUBE 338.65 $10,708.26
231021106 CUMMINS INC US CMI 39.22 $8,128.45
253868103 DIGITAL REALTY TRUST INC US DLR 307.19 $47,813.38
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 162,519.48 $171,974.48
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 339,316.11 $406,977.52
256746108 DOLLAR TREE STORES INC US DLTR 2,817.58 $271,248.60
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 230,382.7 $262,249.86
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 26,515.92 $27,576.56
25960P109 DOUGLAS EMMETT INC US DEI 547.94 $15,298.47
260003108 DOVER CORP US DOV 31.4 $3,448.66
262006208 DREYFUS GVT CSH MANAGEMENT US 3,568,423.53 $3,568,423.53
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 17,026.16 $20,218.56
264411505 DUKE RLTY INVTS INC US DRE 581.23 $22,406.59
26875P101 EOG RESOURCES INC US EOG 6,950.79 $315,149.00
26884L109 EQT CORP US EQT 18,025.77 $286,069.04
26884LAG4 EQT CORP 8.75000 02/01/2030 US 13,517.22 $16,186.87
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,670.3 $41,413.41
277276101 EASTGROUP PROPERTIES US EGP 49.36 $6,572.33
285512109 ELECTRONIC ARTS US EA 3,012.32 $420,128.40
2866857 LUNDIN MINING CORP CA LUN CN 3,598.43 $22,539.35
291011104 EMERSON ELEC CO US EMR 135.72 $9,428.80
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 418,899.59 $451,443.66
29373FAB0 EFF 2018 -2 A2 MTGE 3.14000 02/20/2024 US 100,580.28 $101,700.71
29444U700 EQUINIX INC US EQIX 748.99 $591,533.93
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 364.72 $24,177.59
29476L107 EQUITY RESIDENTIAL US EQR 246.78 $13,930.91
297178105 ESSEX PROPERTY TRUST INC US ESS 28.9 $6,257.38
30212P303 EXPEDIA INC US EXPE 9,681.55 $950,243.91
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 179,147.82 $196,852.24
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 299,041.56 $300,973.03
30225T102 EXTRA SPACE STORAGE INC US EXR 73.24 $7,803.89
30231G102 EXXON MOBIL CORP US XOM 5,926.76 $236,714.88
302491303 FMC CORP US FMC 2,773.1 $296,333.06
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 12,998.7 $11,698.83
30287EAE0 FREMF 2014-K41 B FLT 3.96344 11/25/2047 US 50,296.44 $55,160.19
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 11,543,920.96 $21,721.04
30291XAE2 FREMF 2014-K715 B FLT 4.11951 02/25/2046 US 48,844.59 $49,156.74
30303M102 FACEBOOK INC -A US FB 1,945.16 $570,320.14
311900104 FASTENAL CO US FAST 150.77 $7,366.79
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 12,734.2 $14,966.39
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 13,811.28 $15,984.31
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 14,519.29 $16,771.89
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 13,879.16 $16,117.86
3128MJ2E9 FHLM POOL FG 08772 4.50000 07/01/2047 US 89,907.84 $97,094.71
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 17,439.75 $20,184.58
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 62,693.46 $69,082.00
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 10,700.09 $11,790.70
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 14,050.44 $15,482.35
3132A5H40 FEDERAL NATL MTG ASSN FR ZS4751 3.50000 01/01/2048 US 204,467.35 $216,478.92
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 20,142.75 $22,025.12
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 107,063.32 $116,801.51
31335AQ92 FHLM POOL FG G60480 4.50000 11/01/2045 US 231,648.3 $258,263.10
3133A6DB4 FEDERAL NATL MTG ASSN FR QB0098 2.50000 06/01/2050 US 519,028.33 $546,110.12
3136AY6W8 FNA 2017-M15 A1 FLT 3.05797 09/25/2027 US 170,758.43 $185,587.48
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 76,085.97 $79,040.78
3137AME78 FHMS K017 X1 FLT 1.43314 12/25/2021 US 553,208.34 $6,113.51
3137AUPF0 FHMS K021 x1 FLT 1.54441 06/25/2022 US 895,547.14 $17,436.57
3137B3NB0 FHMS K030 X1 FLT 0.28647 04/25/2023 US 4,629,007.41 $19,059.01
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 76,368.76 $77,962.25
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 47,272.79 $47,913.94
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 46,510.73 $54,596.99
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 95,270.21 $105,180.15
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 114,207.5 $127,427.27
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 99,273.35 $110,584.42
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 71,257.98 $78,589.06
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 158,085.15 $186,765.98
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 19,618.1 $21,631.34
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 31,243.39 $36,551.88
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 61,065.67 $65,109.59
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 297,126.7 $319,564.70
3140X5PS6 FEDERAL NATL MTG ASSN FN FM2232 4.00000 06/01/2048 US 201,029.16 $214,898.48
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 2,134.34 $2,151.19
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2,354.55 $2,376.20
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 60,303.69 $67,185.09
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 52,154.02 $57,454.40
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,356.21 $37,848.47
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 169,366.42 $178,825.55
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 73,993.05 $78,448.60
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 187,674.17 $194,422.05
31418DQ21 FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 US 345,853.4 $364,093.57
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 660,695.69 $695,539.73
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 379,165.66 $391,476.83
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 15,605.63 $18,395.09
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 9,829.79 $11,405.26
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 26,515.92 $29,233.81
316773100 FIFTH THIRD BANCORP US FITB 187.19 $3,867.28
32054K103 FIRST INDUSTRIAL REALTY TR US FR 463.68 $19,775.81
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 23,006.99 $23,122.02
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 185,888.58 $190,407.91
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 38,996.11 $51,115.12
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 13,517.22 $13,657.53
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 13,517.22 $13,111.71
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 13,517.22 $14,413.01
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 16,507.64 $18,019.24
35563BAJ9 FREMF 2014-K37 B FLT 4.71484 01/25/2047 US 158,201.31 $173,869.56
36237HAA9 G-III APPAREL GROUP LTD 7.87500 08/15/2025 US 23,006.99 $22,863.20
36257MAA3 GSMS 2019-70P A 1.16188 10/15/2036 US 192,387.93 $185,159.67
369550108 GENERAL DYNAMICS CORP US GD 53.57 $8,000.29
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 291,710.87 $228,858.85
370334104 GENERAL MLS INC US GIS 135.93 $8,692.86
372460105 GENUINE PARTS CO US GPC 45.85 $4,329.86
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 20,016.57 $21,095.07
374297109 GETTY REALTY CORP US GTY 458.45 $13,428.09
375558103 GILEAD SCIENCES INC US GILD 201.64 $13,459.29
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 172,231.86 $180,581.35
384802104 WW GRAINGER INC US GWW 10.73 $3,922.60
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 42,762.38 $597,818.09
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 164 $12,707.00
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 118.39 $13,432.24
4012250 AIRBUS SE FR AIR FP 145.53 $11,967.92
4031976 ADIDAS AG DE ADS GR 1,044.19 $317,743.85
404119BX6 HCA INC 4.12500 06/15/2029 US 286,284.26 $329,848.14
416515104 HARTFORD FINL SVCS US HIG 98.71 $3,992.95
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 13,517.22 $13,584.81
421946104 HEALTHCARE REALTY TRUST INC US HR 250.48 $7,226.22
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 442.08 $11,666.50
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,022.68 $28,266.83
427866108 HERSHEY CO/THE US HSY 47.25 $7,023.43
431571AB4 HILLENBRAND INC 4.50000 09/15/2026 US 23,006.99 $24,675.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 3,591.01 $324,484.00
437076102 HOME DEPOT INC US HD 122.99 $35,056.75
438516106 HONEYWELL INTERNATIONAL INC US HON 103.03 $17,056.24
440452100 HORMEL FOODS CORP US HRL 96.61 $4,925.07
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 23,006.99 $26,151.44
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 13,517.22 $14,767.57
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 29,506.34 $30,981.66
452308109 ILLINOIS TOOL WKS INC US ITW 59.99 $11,850.46
45337C102 INCYTE CORP US INCY 1,971.23 $189,927.64
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 16,507.64 $16,879.06
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 23,006.99 $21,856.64
45778Q107 INSPERITY INC US NSP 4,203.63 $283,198.79
458140100 INTEL CORP US INTC 473.79 $24,139.53
45857P806 INTERCONTINENTAL HOTELS-ADR GB IHG 2,492.79 $144,482.27
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 5,811.03 $617,305.20
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 133.72 $16,489.39
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 22.87 $2,831.33
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 33,015.28 $35,739.04
46187BAA1 IHSFR 2017-SFR2 A 1.01188 12/17/2036 US 55,831.46 $55,418.52
46187BAB9 IHSFR 2017-SFR2 B 1.31188 12/17/2036 US 44,579.12 $44,503.28
46187W107 INVITATION HOMES INC US INVH 1,387.28 $39,717.68
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 16,507.64 $16,942.94
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 119,616.62 $123,709.38
46625H100 JP MORGAN CHASE & CO US JPM 300.35 $30,092.13
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 39,461.36 $41,254.80
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 58,911.46 $59,588.53
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 427,750.13 $460,076.71
46648HAC7 JPMMT 2017-2 A3 3.50000 05/25/2047 US 50,882.29 $52,297.48
478160104 JOHNSON & JOHNSON US JNJ 6,294.13 $965,581.88
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 12,998.7 $1,819.82
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 13,517.22 $14,767.57
482480100 KLA-TENCOR CORPORATION US KLAC 37.22 $7,635.08
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 23,006.99 $25,020.10
49427F108 KILROY REALTY CORP US KRC 384.72 $22,513.64
494368103 KIMBERLY CLARK CORP US KMB 67.91 $10,714.15
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 311,244.63 $414,038.88
501044101 KROGER CO US KR 191.5 $6,832.76
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 23,006.99 $21,856.64
5107401 BEIERSDORF AG DE BEI GR 268.87 $31,078.98
512816109 LAMAR ADVERTISING CO-A US LAMR 152.72 $10,572.78
53223X107 LIFE STORAGE INC US LSI 171.69 $18,101.49
532457108 ELI LILLY & CO US LLY 96.5 $14,320.26
539830109 LOCKHEED MARTIN CORP US LMT 42.13 $16,442.19
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 12,998.7 $13,254.65
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 26,515.92 $4,242.55
550021109 LULULEMON - ADR CA LULU 850.01 $319,322.26
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 16,507.64 $15,764.79
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 20,016.57 $21,017.40
56585A102 MARATHON PETROLEUM CORP US MPC 174.35 $6,182.35
573284106 MARTIN MARIETTA MATERIALS US MLM 726.83 $147,452.51
57636Q104 MASTERCARD INC-CLASS A US MA 3,593.11 $1,287,014.59
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 3,508.94 $3,315.94
58933Y105 MERCK & CO INC US MRK 303.05 $25,841.42
594918104 MICROSOFT CORP US MSFT 2,653.86 $598,523.98
595112103 MICRON TECHNOLOGY INC US MU 15,354.29 $698,773.56
59522J103 MID-AMERICA APARTMENT COMM US MAA 230.98 $27,052.07
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,889.87 $636,186.35
615369105 MOODY'S CORPORATION US MCO 798.69 $235,325.27
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 20,016.57 $13,711.35
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 7,017.87 $5,123.05
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 351.01 $7,312.26
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 13,517.22 $9,867.57
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 15,854.13 $32,923.24
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 23,006.99 $23,984.79
63938EAC8 NAVSL 2014-1 A3 FLT 0.68513 06/25/2031 US 160,442.82 $154,936.92
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MH 9,489.77 $10,272.67
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 49,883.42 $50,149.27
64032XAA3 NSLT 2012-3A A MTGE FLT 0.87513 02/25/2045 US 193,823.39 $189,610.14
64033GAA9 NSLT 2013-5A A MTGE FLT 0.80513 01/25/2037 US 258,807.31 $248,640.82
64033QAB5 NSLT 2015-2A A2 0.77513 09/25/2047 US 384,686.56 $371,791.86
64110D104 NETAPP INC US NTAP 62.09 $2,942.56
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 25,997.4 $26,379.57
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 45,211.07 $48,401.15
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 61,328.04 $66,210.44
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 67,557.9 $72,455.46
655844108 NORFOLK SOUTHN CORP US NSC 37.22 $7,910.12
6642321 NIKON CORP JP 7731 JP 28,306.88 $221,690.78
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 72,011.38 $1,152.18
66987V109 NOVARTIS AG- REG CH NVS 10,581.91 $910,679.12
670346105 NUCOR CORP US NUE 96.5 $4,387.08
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 15,989.12 $16,095.73
6742340 SHANDONG WEIGAO CN 1066 HK 19,650.04 $45,786.16
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 13,517.22 $15,274.46
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 22,488.47 $14,190.22
6821506 SONY CORP FIRST SECTION JP 6758 JP 280.71 $21,981.21
682189AQ8 ON SEMICONDUCTOR CORP 3.87500 09/01/2028 US 12,998.7 $13,563.89
68389X105 ORACLE CORP US ORCL 276.57 $15,825.30
68555PAA8 ORBCOMM INC 8.00000 04/01/2024 US 23,006.99 $22,374.30
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 186,165.69 $188,845.16
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,222.41 $63,738.64
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 3,508.94 $3,343.56
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 15,989.12 $16,356.87
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 143,541.61 $151,251.76
693475105 PNC FINANCIAL SERVICES GROUP US PNC 60.09 $6,682.10
693506107 PPG INDUSTRIES INC US PPG 42.13 $5,072.62
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 20,016.57 $21,335.67
701094104 PARKER HANNIFIN CORP US PH 25.68 $5,290.16
7021963 DEUTSCHE BOERSE AG DE DB1 GR 342.68 $64,830.15
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,915.22 $390,972.50
7123870 NESTLE SA-REGISTERED CH NESN SW 5,528.6 $665,904.46
713448108 PEPSICO INC US PEP 2,208.85 $309,370.98
717081103 PFIZER INC US PFE 695.99 $26,301.28
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 19,498.05 $17,919.88
71943U104 PHYSICIANS REALTY TRUST US DOC 465.97 $8,457.27
723787107 PIONEER NATURAL RESOURCES CO US PXD 4,103.65 $426,492.26
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 491,948.01 $552,276.06
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 13,517.22 $14,193.08
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 179,840 $186,225.24
74340W103 PROLOGIS US PLD 954.72 $97,248.07
74460D109 PUBLIC STORAGE INC US PSA 129.8 $27,569.38
747525103 QUALCOMM INC US QCOM 132.11 $15,734.55
74834L100 QUEST DIAGNOSTICS INC US DGX 38.62 $4,296.36
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 32,496.76 $32,594.25
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 218.69 $13,339.94
756109104 REALTY INCOME CORP US O 161.92 $10,044.05
758849103 REGENCY CENTERS CORP US REG 114.77 $4,557.71
7591EP100 REGIONS FINANCIAL CORP. US RF 272.36 $3,148.47
76131D103 RESTAURANT BRANDS INTERN CA QSR 776.8 $42,056.09
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 433.37 $20,793.18
7698356 GETINGE AB-B SHS SE GETIB SS 1,573.49 $35,059.13
773903109 ROCKWELL AUTOMATION INC US ROK 26.48 $6,105.50
778296AE3 ROSS STORES INC 5.45000 04/15/2050 US 122,727.74 $157,804.53
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 3,613.19 $101,530.75
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 5,643.55 $456,563.47
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 257,077.13 $258,814.80
78409V104 S&P GLOBAL INC US SPGI 592.89 $217,246.54
78410G104 SBA COMMUNICATIONS CORP US SBAC 1,358.84 $415,899.76
78442GQJ8 SLMA 2005-7 A4 FLT 0.39450 10/25/2029 US 117,929.66 $115,735.59
78442PGC4 SLM CORP 5.12500 04/05/2022 US 32,496.76 $33,471.66
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 273,285.56 $282,899.04
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 81,954.93 $83,055.05
78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 32,792.79 $32,975.53
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 12,179.18 $12,256.68
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 467,541.87 $562,323.21
79466L302 SALESFORCE.COM US CRM 1,577.91 $430,217.86
806857108 SCHLUMBERGER LTD NL SLB 9,607.62 $182,640.90
81141R100 SEA LTD - ADR SG SE 168.55 $25,756.07
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 127,741.97 $133,645.39
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 58,696.1 $60,382.47
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 47,459.67 $47,807.59
81746FAU9 SEMT 2017-6 A19 MTGE 3.50000 09/25/2047 US 193,684.34 $197,268.99
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 149,108.79 $153,415.89
81748MAD0 SEMT 2020-1 A4 3.50000 02/25/2050 US 41,815.16 $42,381.89
81762P102 SERVICENOW INC US NOW 593.89 $286,267.22
83088M102 SKYWORKS SOLUTIONS INC US SWKS 34.31 $4,969.51
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 33.5 $4,026.33
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 32,399.64 $33,277.70
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 165,076.38 $170,446.93
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 2,745.31 $2,750.61
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 77,547.98 $78,494.49
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 57,511.35 $58,175.57
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 3,937.61 $3,941.21
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 138,958.27 $144,490.90
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 339,074.7 $370,076.15
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 15,989.12 $18,347.44
85254J102 STAG INDUSTRIAL INC US STAG 337.18 $10,890.87
854502101 STANLEY WORKS/THE US SWK 30.1 $4,854.69
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 23,006.99 $22,144.23
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.63188 11/15/2027 US 186,995.1 $130,937.65
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 20,016.57 $20,266.78
866674104 SUN COMMUNITIES US SUI 267.89 $39,936.32
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 143,631.21 $144,771.49
87105L104 SWITCH INC - A US SWCH 1,047.94 $18,024.61
871829107 SYSCO CORP US SYY 5,423.62 $326,176.71
872540AU3 TJX COS INC 4.50000 04/15/2050 US 194,497.72 $247,440.58
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 20,016.57 $20,684.93
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 3,830.38 $3,838.13
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 7,017.87 $1,561.48
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 375,996.73 $433,896.60
88146M101 TERRENO REALTY CORP US TRNO 243.98 $14,550.73
882508104 TEXAS INSTRUMENTS INC US TXN 132.92 $18,894.24
883556102 THERMO FISHER SCIENTIFIC INC US TMO 729.62 $312,991.18
88579Y101 3M CO US MMM 95 $15,486.40
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,805.16 $269,280.14
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 103,126.85 $105,304.00
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 101,874.64 $104,745.02
89177EAA7 TPMT 2019-HY1 A1 1.17513 10/25/2048 US 91,653.5 $91,462.73
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 23,006.99 $21,223.95
89417E109 TRAVELLERS COS INC US TRV 54.37 $6,309.43
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 139,627.64 $139,995.18
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 148,691.64 $154,074.28
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 60,148.33 $60,136.06
89832Q109 TRUIST FINANCIAL CORP US TFC 266.74 $10,352.35
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 43,023.56 $41,410.18
902494103 TYSON FOODS INC -CL A US TSN 80.65 $5,064.83
902653104 UDR INC US UDR 231.73 $8,066.68
902973304 U.S. BANCORP US USB 283.9 $10,333.90
904767704 UNILEVER PLC - ADR GB UL 15,934.69 $949,388.65
907818108 UNION PAC CORP US UNP 102.12 $19,651.69
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 1,328,696.64 $1,581,330.66
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 707,568.37 $956,820.37
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 558,648.39 $598,823.06
912828YN4 US TREASURY FRN FLT 0.40503 10/31/2021 US 1,057,971.28 $1,061,392.00
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 986,947.21 $1,061,315.22
91704F104 URBAN EDGE PROPERTIES US UE 717.37 $7,575.47
918204108 VF CORP US VFC 92.89 $6,107.62
91913Y100 VALERO ENERGY US VLO 97.8 $5,143.52
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 483,893.1 $657,328.57
92826C839 VISA INC - CLASS A SHARES US V 5,558.52 $1,178,350.91
92826CAK8 VISA INC 2.70000 04/15/2040 US 400,957.09 $433,099.06
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 248,843.72 $273,505.43
929160109 VULCAN MATERIALS CO US VMC 2,486.91 $298,428.65
93065PAA9 WBHT 2019-WBM A FLT 1.21188 12/15/2033 US 137,125.6 $130,264.30
931142103 WAL MART STORES US WMT 265.13 $36,813.77
94106L109 WASTE MANAGEMENT INC US WM 83.56 $9,525.95
949746101 WELLS FARGO COMPANY US WFC 601.4 $14,523.88
95040Q104 WELLTOWER INC. US WELL 353.71 $20,345.43
95081QAP9 WESCO DISTRIBUTION INC 7.25000 06/15/2028 US 20,016.57 $22,328.19
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 23,006.99 $24,962.58
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 76,038.84 $17,108.74
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 329,982.75 $364,581.13
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 322.11 $16,865.47
983919101 XILINX INC US XLNX 45.85 $4,775.50
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,810.78 $63,181.17
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,729.01 $12,497.69
B1Y47Y7 GERRESHEIMER AG DE GXI GR 383.23 $45,207.13
B1Y9TB3 DANONE FR BN FP 662.12 $43,538.34
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 3,334.11 $42,355.30
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 359,053.88 $16,645.91
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 43,701.21 $34,963.65
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 584,204.12 $27,581.63
B4YVF56 BRENNTAG AG DE BNR GR 521.64 $32,683.87
B63QM77 NEXON CO LTD JP 3659 JP 26,962.93 $630,916.62
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 112,379.78 $5,803.36
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 361.66 $10,626.30
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 7,138.32 $10,146.34
BJ2KSG2 AKZO NOBEL NL AKZA NA 339.67 $33,526.99
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 87,084.17 $113,090.53
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 33,015.28 $33,223.27
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 9,630.41 $657,933.58
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,684.86 $70,922.07
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 1,358.87 $38,207.67
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 2,926.66 $21,879.48
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 954.91 $22,121.81
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 5,649.81 $328,363.22
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 12,779.7 $20,919.50
BZ1HM42 ADYEN NV NL ADYEN NA 10.53 $17,744.48
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 814.09 $20,514.98
G1151C101 ACCENTURE PLC - CL A IE ACN 228.73 $54,880.23
G29183103 EATON CORP PLC US ETN 87.98 $8,982.66
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 194.31 $7,914.18
G5494J103 LINDE PLC GB LIN 58.48 $14,604.77
G5960L103 MEDTRONIC INC IE MDT 3,631.2 $390,245.13
G85158106 STONECO LTD-A BR STNE 314.49 $16,038.99
G8994E103 TRANE TECHNOLOGIES IE TT 45.04 $5,332.55
G97822103 PERRIGO CO PLC IE PRGO 605.61 $31,673.46
H01301128 ALCON INC CH ALC 14,143.13 $810,966.94
H1467J104 CHUBB LTD CH CB 77.95 $9,743.33
H2906T109 GARMIN LTD CH GRMN 39.92 $4,136.35
N53745100 LYONDELLBASELL INDU-CL A US LYB 85.67 $5,609.43

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
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2020 Distributions
  • Second Quarter 2020 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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