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 27% - 67%.

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

$11.73

Daily $ Change

$0.01

Daily % Change

0.09%

as of 11/14/2018

Ticker

MTOZX

CUSIP

56382R555

Inception Date

10/16/2017

This fund is available for qualified retirement plans only.

Important Documents

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

Information on Underlying Investments

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

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

Performance

As of 10/31/2018

YTD

-1.82%

1 Year

-1.15%

3 Year

4.03%

5 Year

3.47%

10 Year

---

Inception
(06/25/2012)

6.71%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 06/25/2012. For periods through 10/16/2017 (the inception date of the Class R6 shares), performance for the Class R6 shares is based on the historical performance of the Class I shares. Because the Class R6 shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.02%
Net 0.59%*

*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 prior to the expiration date of 02/29/2028 without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2018

TREASURY NOTES 12.90%
GOVERNMENT AGENCY 8.45%
TREASURY BONDS 5.58%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.88%
BOOKING HOLDINGS INC 1.36%
QORVO INC 1.35%
INCYTE CORP 1.35%
MASTERCARD INC-CLASS A 1.32%
MEDTRONIC INC 1.27%
VISA INC - CLASS A SHARES 1.22%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2018

Bonds 54.52%
Stocks 43.40%
Cash 2.08%

Detailed Asset Class Allocation

As of 10/31/2018

International Equities 15.07%
Small Capitalization 0.58%
Mid Capitalization 5.38%
Large Capitalization 22.37%
Long Term Fixed Income 16.49%
Intermediate Term Fixed Income 28.59%
Short Term Fixed Income 9.44%
Cash 2.08%

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

October Fund Holdings

As of 10/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 10,976.49 $11,086.26
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 265,838.99 $257,800.82
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 219,488.06 $216,461.75
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 29,563.46 $30,450.37
004239109 ACADIA REALTY TRUST US AKR 202.49 $5,637.46
0045614 ANTOFAGASTA PLC GB ANTO LN 2,246.18 $22,484.31
0053673 ASHTEAD GROUP PLC GB AHT LN 376.5 $9,294.63
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 264,389.8 $258,174.25
008492100 AGREE REALTY CORP US ADC 111.78 $6,401.90
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 8,232.37 $8,460.41
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 45.2 $5,524.91
01609W102 ALIBABA GROUP - ADR CN BABA 2,995.87 $426,251.85
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 14,497.58 $14,570.07
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 15,015.55 $14,996.78
02079K107 ALPHABET INC-CL C US GOOG 371.63 $400,159.83
02079K305 ALPHABET INC-CL A US GOOGL 232.88 $253,975.46
023135106 AMAZON.COM INC US AMZN 143.31 $229,013.11
02319V103 AMBEV SA-ADR BR ABEV 68,422.85 $296,270.92
0237400 DIAGEO PLC GB DGE LN 15,528.13 $536,831.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 149.63 $5,911.95
0263494 BAE SYSTEMS PLC GB BA/ LN 2,261.41 $15,163.40
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,076.47 $22,681.17
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 273,917.1 $258,916.05
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 18,484.27 $18,114.58
03027X100 AMERICAN TOWER REIT INC US AMT 1,776.22 $276,753.33
03064D108 AMERICOLD REALTY TRUST US COLD 203.94 $5,047.61
03748R101 APARTMENT INVT & MGMT CO -A US AIV 403.39 $17,361.74
03784Y200 APPLE HOSPITALITY REIT INC US APLE 573.68 $9,276.34
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 28,983.79 $27,172.30
0405207 HALMA PLC GB HLMA LN 550.98 $9,350.42
0490656 KERRY GROUP PLC-A IE KYGA LN 179.14 $18,332.11
053484101 AVALONBAY COMMUNITIES INC US AVB 251.32 $44,076.27
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 268,944.8 $256,608.41
058498106 BALL CORP US BLL 12,995.89 $582,215.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 400,053.41 $389,587.29
0822011 DS SMITH PLC GB SMDS LN 2,813.74 $14,118.23
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,260.08 $258,669.30
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,284.39 $394,892.09
0922320 SMITH & NEPHEW PLC GB SN/ LN 388.2 $6,310.17
09247X101 BLACKROCK INC US BLK 963.93 $396,580.15
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,301.5 $26,337.94
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 370,330.82 $386,963.17
09857L108 BOOKING HOLDINGS INC US BKNG 424.75 $796,236.44
101121101 BOSTON PROPERTIES INC US BXP 278.61 $33,644.42
105368203 BRANDYWINE REALTY TRUST US BDN 1,414.66 $19,890.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,268.64 $266,277.06
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 339.64 $14,740.38
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 12,271.43 $11,841.93
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 18,484.27 $18,022.16
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,299.95 $146,699.05
12572Q105 CME GROUP INC US CME 741.72 $135,912.24
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 261,799.93 $261,564.31
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 27,897.51 $26,886.22
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 80,799.32 $74,497.15
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 138,519.91 $134,201.97
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 77,696.04 $77,523.94
13321L108 CAMECO CORP CA CCJ 792.71 $8,497.90
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 58,272.03 $57,758.89
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 704.91 $6,238.43
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 146,833.97 $146,181.49
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 30,962.32 $28,020.90
15672WAM6 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 28,983.79 $30,040.83
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 10,722.06 $10,691.94
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 234,839.44 $232,447.42
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 136,175.02 $134,361.36
165240102 CHESAPEAKE LODGING TRUST US CHSP 300.56 $8,833.42
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 275,366.29 $384,479.00
191216100 COCA COLA CO/THE US KO 5,801.4 $277,771.11
19625JAA1 CAH 2015-1A A 3.48713 07/17/2032 US 49,734.01 $49,734.08
19626G108 COLONY CAPITAL INC US CLNY 1,252.35 $7,351.31
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 335.35 $9,966.70
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 486.16 $13,338.94
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 77.87 $6,656.79
21871N101 CORECIVIC INC US CXW 669 $15,025.65
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 168,130.33 $178,196.34
222795106 COUSINS PROPERTIES INC US CUZ 2,382.42 $19,797.93
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 17,759.67 $17,138.09
2242059 FOMENTO ECONOMICO EXICA-UBD MX 690.66 $5,883.09
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 131,400.08 $130,709.04
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 15,740.15 $15,126.28
22822V101 CROWN CASTLE INTL CORP US CCI 154.55 $16,805.74
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 32,888.46 $29,808.56
229663109 CUBESMART US CUBE 160.61 $4,654.43
2306814 EL PUERTO DE LIVERPOOL -C1 MX 848.28 $5,387.00
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 413.16 $4,735.00
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 10,976.49 $11,099.98
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,454.39 $14,516.83
23918K108 DAVITA INC. US DVA 5,974.29 $402,308.79
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 18,484.27 $17,467.63
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 2,344.4 $4,383.36
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,203.44 $10,994.24
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 1,516.98 $4,565.41
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 6,027.53 $8,685.26
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 592.3 $2,961.90
25271C102 DIAMOND OFFSHORE DRILLING US DO 10,978.6 $155,676.55
253868103 DIGITAL REALTY TRUST INC US DLR 284.25 $29,351.46
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 265,838.99 $245,871.05
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 28,983.79 $28,911.33
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 207.81 $479.30
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 22,699.1 $22,642.35
269246401 ETRADE FINANCIAL CORP US ETFC 2,627.64 $129,858.18
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,826.39 $133,888.42
277276101 EASTGROUP PROPERTIES US EGP 50.12 $4,800.88
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,437.94 $138,481.38
285512109 ELECTRONIC ARTS US EA 3,991.48 $363,144.64
2866857 LUNDIN MINING CORP CA LUN CN 3,241.07 $13,319.28
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 10,082.56 $10,043.52
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 90,966.85 $90,275.84
294429105 EQUIFAX INC US EFX 2,503.7 $253,974.92
29444U700 EQUINIX INC US EQIX 952.71 $360,827.89
2945422 WEG SA BR WEGE3 BZ 577.81 $2,796.27
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 121.31 $11,487.01
29476L107 EQUITY RESIDENTIAL US EQR 547.11 $35,540.50
297178105 ESSEX PROPERTY TRUST INC US ESS 92.01 $23,073.08
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 201,952.87 $198,628.73
30225T102 EXTRA SPACE STORAGE INC US EXR 126.23 $11,368.24
30261KAN6 FREMF 2012-K711 B 3.57019 08/25/2045 US 45,322.69 $45,321.89
30261UAJ3 FREMF 2013-K713 B 3.15414 04/25/2046 US 150,155.51 $149,529.96
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 20,503.8 $20,790.85
30287EAE0 FREMF 2014-K41 B FLT 3.83206 11/25/2047 US 70,285.69 $68,831.67
30291EAE4 FREMF 2013-K712 B FLT 3.35777 05/25/2045 US 78,047.17 $77,919.11
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 6,331,317.12 $21,564.47
30291XAE2 FREMF 2014-K715 B FLT 3.97812 02/25/2046 US 68,256.82 $68,771.65
30292HAU0 FREMF 2014- K503 B 3.02122 10/25/2047 US 150,155.51 $149,650.96
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 10,138.13 $11,145.75
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 27,134.96 $29,017.61
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 29,569.01 $31,576.85
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 10,103.22 $10,842.99
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 155,848.55 $160,310.14
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 12,751.81 $13,648.47
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 57,314.73 $59,023.19
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 21,755.24 $22,554.38
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 25,376.29 $26,126.84
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 36,028.99 $36,125.06
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 81,784.88 $81,901.19
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 64,474.98 $62,966.46
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 118,303.33 $112,065.27
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 317,172.54 $325,018.43
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 107,849.74 $106,420.63
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 45.36 $5,626.31
3137A2B34 FHMS K009 X1 FLT 1.27965 08/25/2020 US 645,939.5 $11,640.09
3137AME78 FHMS K017 X1 FLT 1.30551 12/25/2021 US 860,398.09 $28,694.19
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 1,112.19 $1,110.19
3137AUPF0 FHMS K021 x1 FLT 1.44696 06/25/2022 US 491,965.57 $21,261.72
3137B3NB0 FHMS K030 X1 FLT 0.19863 04/25/2023 US 2,555,158.76 $19,740.13
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 134,445.54 $136,318.26
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 140,224.46 $144,283.20
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 32,853.17 $35,840.27
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 87,777.17 $88,442.96
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 136,247.55 $140,909.18
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 15,529.76 $16,897.14
3138EP2A1 FEDERAL NATL MTG ASSN AL7068 4.50000 09/01/2042 US 78,988.23 $81,796.85
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 74,491.74 $75,055.41
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 160,216.58 $170,598.87
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 312,067.54 $305,084.44
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 38,847.08 $40,159.95
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 23,387.27 $25,074.76
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 194,371.09 $190,020.69
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 59,865.48 $58,507.03
3140F8RB5 FEDERAL NATL MTG ASSN BD1381 3.50000 06/01/2046 US 38,147.39 $37,254.08
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 50,294.88 $50,330.68
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 294,374.66 $286,961.46
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 72,305.24 $74,101.24
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 297,178.3 $297,703.82
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 197,876.44 $206,761.42
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 258,034.44 $269,594.76
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 201,850.3 $206,928.22
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 132,394.55 $138,319.34
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 13,014.81 $13,237.05
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 15,805.52 $16,076.46
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 122,097.25 $128,078.41
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 44,432.88 $48,505.07
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 63,985.17 $66,260.75
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 69,953.41 $71,985.11
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 24,686.96 $25,404.63
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 294,157.04 $307,306.10
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 107,973.14 $102,261.40
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 258,538.73 $251,840.50
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 127,118.93 $130,272.34
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 87,203.4 $88,868.98
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 31,273.24 $34,118.59
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 19,590.68 $20,961.94
31428X106 FEDEX CORPORATION US FDX 1,850.1 $407,650.89
3174300 BURBERRY GROUP PLC GB BRBY LN 283.46 $6,559.15
32054K103 FIRST INDUSTRIAL REALTY TR US FR 282.49 $8,672.46
3208986 NEXT PLC GB NXT LN 94.49 $6,277.08
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 15,015.55 $13,814.31
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 16,464.74 $16,176.61
35563BAJ9 FREMF 2014-K37 B FLT 4.55868 01/25/2047 US 82,875.78 $85,245.57
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 140,629.83 $142,823.88
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 178,222.29 $177,670.52
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 41,651.82 $40,723.75
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 261,799.93 $261,421.37
371559105 GENESEE & WYOMING INC -CL A US GWR 3,383.76 $268,095.30
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 15,015.55 $13,589.07
374297109 GETTY REALTY CORP US GTY 343.63 $9,219.66
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 27,441.23 $26,137.78
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 149,836.43 $137,267.51
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 22,523.33 $21,847.63
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 64.15 $5,316.58
4012250 AIRBUS SE FR AIR FP 91.02 $10,058.83
404121AH8 HCA INC 5.37500 09/01/2026 US 17,035.08 $16,907.32
40414L109 HCP INC US HCP 620.85 $17,104.41
4057808 L'OREAL FR OR FP 59.95 $13,508.08
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83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 50,905.28 $50,687.54
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866674104 SUN COMMUNITIES US SUI 235.99 $23,710.38
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98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 12,969.44 $387,526.92
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B02J639 ADMIRAL GROUP PLC GB ADM LN 253.12 $6,506.79
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 702.07 $9,270.32
B0386J1 JYSKE BANK-REG DK JYSK DC 203.42 $8,305.85
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B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 372.77 $13,261.22
B0MKZN5 TSURUHA HOLDINGS INC JP 3391 JP 69.37 $7,240.62
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 62.7 $13,220.94
B142S60 KUEHNE & NAGEL INTL AG-REG CH KNIN SW 45.51 $6,325.11
B15C557 TOTAL SA FR FP FP 391.67 $22,981.33
B19NLV4 EXPERIAN PLC GB EXPN LN 272.18 $6,259.87
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,572.33 $27,339.84
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,074.84 $5,629.42
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 282.01 $13,802.76
B1XH026 VINCI SA FR DG FP 256.28 $22,808.93
B1Y9TB3 DANONE FR BN FP 368.27 $26,078.21
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 2,485.14 $10,259.99
B1YXBJ7 AIR LIQUIDE FR AI FP 66.89 $8,086.29
B232R05 SK INNOVATION CO LTD KR 096770 KS 55.76 $10,464.73
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 248.51 $8,984.73
B283W97 CAIXABANK S.A ES CABK SM 5,683.79 $23,000.53
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 1,518.07 $2,975.14
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 124.26 $10,030.08
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 25,930.34 $19,746.61
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 79.32 $6,386.99
B3NB1P2 SUNCOR ENERGY INC CA SU CN 377.23 $12,653.94
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 317.89 $3,680.72
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 268,540.89 $12,565.33
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,133.85 $24,691.89
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 54.88 $2,483.61
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 436,767.43 $20,073.90
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 18,574.2 $14,135.03
B4R2R50 JULIUS BAER CH BAER SW 767.71 $35,011.21
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 372.77 $4,227.04
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 52,574.24 $13,531.29
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 57,287.23 $41,481.43
B4YVF56 BRENNTAG AG DE BNR GR 147.35 $7,695.28
B607XS1 VERMILION ENERGY INC CA VET CN 504.8 $13,386.35
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 648,970.17 $31,648.13
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,964 $21,139.60
B63QM77 NEXON CO LTD JP 3659 JP 1,046.85 $11,941.70
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 84,056.23 $3,771.87
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 133.06 $6,571.15
B8FMRX8 COLOPLAST-B DK COLOB DC 134.51 $12,551.50
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 468.04 $3,349.19
BB22L96 KION GROUP AG DE KGX GR 241.42 $14,107.66
BBG00KCGVZV0 MDT US 11/16/18 P90 IE -19.19 -$2,782.17
BBG00KCQF551 QRVO US 11/16/18 C77.5 US -16.41 -$3,528.66
BBG00KFDHCW0 QRVO US 11/16/18 P67.5 US -24.97 -$3,495.16
BBG00LL833R3 MSFT US 11/16/18 P100 US -17.11 -$1,556.66
BBG00M3T9DN1 BKNG US 11/09/18 C1960 US -.55 -$2,195.30
BBG00M420Q86 LULU US 11/09/18 P149 CA -8.7 -$7,088.85
BBG00M425WW1 MA US 11/09/18 P197.5 US -8.7 -$3,392.21
BBG00M5LJG30 GOOG US 11/23/18 C1110 US -1.39 -$3,052.47
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 248.51 $2,657.76
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 15,718.63 $6,821.96
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 80,781.15 $83,002.63
BD9Y9B7 BASIC-FIT NV NL BFIT NA 315.82 $9,093.00
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 15,138.96 $6,812.93
BDZV116 EPIROC AB-A SE EPIA SS 1,497.88 $13,153.49
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 702.07 $2,861.84
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 80,781.15 $74,924.52
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 139.53 $25,249.85
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 661.67 $4,745.42
BG7ZWY7 AMBEV SA BR ABEV3 BZ 2,164.16 $9,444.04
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 6,317.22 $9,945.67
BGLP232 MONCLER SPA IT MONC IM 184.78 $6,417.03
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 19,850.24 $15,255.14
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 144.76 $6,251.71
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 16,314.22 $558,913.29
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,851.66 $19,352.72
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,438.71 $322,394.89
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 537.42 $14,424.08
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 4,276.34 $10,934.40
BYQ32R1 NEMAK SAB DE CV MX 12,826.5 $9,263.16
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 23,981.85 $9,670.15
BYXS699 QIAGEN N.V. NL QIA GR 306.4 $11,121.95
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,186.09 $679,411.81
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 222.46 $13,702.73
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 193.01 $6,344.71
BZ3C3Q4 BANKIA SA ES BKIA SM 4,241.11 $13,321.51
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 36,272.12 $9,756.65
G02602103 AMDOCS LTD GG DOX 432.52 $27,365.81
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 200.37 $8,072.81
G27358103 DESPEGAR.COM CORP AR DESP 249.04 $4,002.03
G3157S106 ENSCO INTERNATIONAL INC US ESV 23,844.55 $170,250.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 28,011.57 $28,991.98
G5960L103 MEDTRONIC INC IE MDT 8,317.52 $747,079.94
G97822103 PERRIGO CO PLC IE PRGO 332.86 $23,399.84
H8817H100 TRANSOCEAN LTD US RIG 22,898.24 $252,109.58
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 118.61 $13,166.19
N22717107 CORE LABORATORIES N.V. NL CLB 105.46 $8,989.76
N47279109 INTERXION HOLDING NV NL INXN 5,024.66 $295,801.52
N72482123 QIAGEN N.V. ADR NL QGEN 213.52 $7,750.70
USD US DOLLAR US 1,243,846 $1,243,846.00

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 R6 Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 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

$11.73

Daily $ Change

$0.01

Daily % Change

0.09%

as of 11/14/2018

Ticker

MTOZX

CUSIP

56382R555

Inception Date

10/16/2017

This fund is available for qualified retirement plans only.

Important Documents

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

Information on Underlying Investments

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

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 27% - 67%.

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 10/31/2018

YTD

-1.82%

1 Year

-1.15%

3 Year

4.03%

5 Year

3.47%

10 Year

---

Inception
(06/25/2012)

6.71%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 06/25/2012. For periods through 10/16/2017 (the inception date of the Class R6 shares), performance for the Class R6 shares is based on the historical performance of the Class I shares. Because the Class R6 shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.02%
Net 0.59%*

*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 prior to the expiration date of 02/29/2028 without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 10/31/2018

TREASURY NOTES 12.90%
GOVERNMENT AGENCY 8.45%
TREASURY BONDS 5.58%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.88%
BOOKING HOLDINGS INC 1.36%
QORVO INC 1.35%
INCYTE CORP 1.35%
MASTERCARD INC-CLASS A 1.32%
MEDTRONIC INC 1.27%
VISA INC - CLASS A SHARES 1.22%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2018

Bonds
54.52%
Stocks
43.40%
Cash
2.08%

Detailed Asset Class Allocation

As of 10/31/2018

International Equities
15.07%
Small Capitalization
0.58%
Mid Capitalization
5.38%
Large Capitalization
22.37%
Long Term Fixed Income
16.49%
Intermediate Term Fixed Income
28.59%
Short Term Fixed Income
9.44%
Cash
2.08%

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

October Fund Holdings

As of 10/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 10,976.49 $11,086.26
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 265,838.99 $257,800.82
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 219,488.06 $216,461.75
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 29,563.46 $30,450.37
004239109 ACADIA REALTY TRUST US AKR 202.49 $5,637.46
0045614 ANTOFAGASTA PLC GB ANTO LN 2,246.18 $22,484.31
0053673 ASHTEAD GROUP PLC GB AHT LN 376.5 $9,294.63
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 264,389.8 $258,174.25
008492100 AGREE REALTY CORP US ADC 111.78 $6,401.90
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 8,232.37 $8,460.41
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 45.2 $5,524.91
01609W102 ALIBABA GROUP - ADR CN BABA 2,995.87 $426,251.85
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 14,497.58 $14,570.07
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 15,015.55 $14,996.78
02079K107 ALPHABET INC-CL C US GOOG 371.63 $400,159.83
02079K305 ALPHABET INC-CL A US GOOGL 232.88 $253,975.46
023135106 AMAZON.COM INC US AMZN 143.31 $229,013.11
02319V103 AMBEV SA-ADR BR ABEV 68,422.85 $296,270.92
0237400 DIAGEO PLC GB DGE LN 15,528.13 $536,831.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 149.63 $5,911.95
0263494 BAE SYSTEMS PLC GB BA/ LN 2,261.41 $15,163.40
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,076.47 $22,681.17
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 273,917.1 $258,916.05
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 18,484.27 $18,114.58
03027X100 AMERICAN TOWER REIT INC US AMT 1,776.22 $276,753.33
03064D108 AMERICOLD REALTY TRUST US COLD 203.94 $5,047.61
03748R101 APARTMENT INVT & MGMT CO -A US AIV 403.39 $17,361.74
03784Y200 APPLE HOSPITALITY REIT INC US APLE 573.68 $9,276.34
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 28,983.79 $27,172.30
0405207 HALMA PLC GB HLMA LN 550.98 $9,350.42
0490656 KERRY GROUP PLC-A IE KYGA LN 179.14 $18,332.11
053484101 AVALONBAY COMMUNITIES INC US AVB 251.32 $44,076.27
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 268,944.8 $256,608.41
058498106 BALL CORP US BLL 12,995.89 $582,215.80
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 400,053.41 $389,587.29
0822011 DS SMITH PLC GB SMDS LN 2,813.74 $14,118.23
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,260.08 $258,669.30
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,284.39 $394,892.09
0922320 SMITH & NEPHEW PLC GB SN/ LN 388.2 $6,310.17
09247X101 BLACKROCK INC US BLK 963.93 $396,580.15
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,301.5 $26,337.94
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 370,330.82 $386,963.17
09857L108 BOOKING HOLDINGS INC US BKNG 424.75 $796,236.44
101121101 BOSTON PROPERTIES INC US BXP 278.61 $33,644.42
105368203 BRANDYWINE REALTY TRUST US BDN 1,414.66 $19,890.10
110122108 BRISTOL MYERS SQUIBB CO US BMY 5,268.64 $266,277.06
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 339.64 $14,740.38
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 12,271.43 $11,841.93
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 18,484.27 $18,022.16
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,299.95 $146,699.05
12572Q105 CME GROUP INC US CME 741.72 $135,912.24
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 261,799.93 $261,564.31
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 27,897.51 $26,886.22
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 80,799.32 $74,497.15
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 138,519.91 $134,201.97
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 77,696.04 $77,523.94
13321L108 CAMECO CORP CA CCJ 792.71 $8,497.90
14314JAC4 CARMX 2017-1 A3 1.98000 11/15/2021 US 58,272.03 $57,758.89
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 704.91 $6,238.43
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 146,833.97 $146,181.49
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 30,962.32 $28,020.90
15672WAM6 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 28,983.79 $30,040.83
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 10,722.06 $10,691.94
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 234,839.44 $232,447.42
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 136,175.02 $134,361.36
165240102 CHESAPEAKE LODGING TRUST US CHSP 300.56 $8,833.42
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 275,366.29 $384,479.00
191216100 COCA COLA CO/THE US KO 5,801.4 $277,771.11
19625JAA1 CAH 2015-1A A 3.48713 07/17/2032 US 49,734.01 $49,734.08
19626G108 COLONY CAPITAL INC US CLNY 1,252.35 $7,351.31
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 335.35 $9,966.70
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 486.16 $13,338.94
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 77.87 $6,656.79
21871N101 CORECIVIC INC US CXW 669 $15,025.65
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 168,130.33 $178,196.34
222795106 COUSINS PROPERTIES INC US CUZ 2,382.42 $19,797.93
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 17,759.67 $17,138.09
2242059 FOMENTO ECONOMICO EXICA-UBD MX 690.66 $5,883.09
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 131,400.08 $130,709.04
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 15,740.15 $15,126.28
22822V101 CROWN CASTLE INTL CORP US CCI 154.55 $16,805.74
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 32,888.46 $29,808.56
229663109 CUBESMART US CUBE 160.61 $4,654.43
2306814 EL PUERTO DE LIVERPOOL -C1 MX 848.28 $5,387.00
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 413.16 $4,735.00
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 10,976.49 $11,099.98
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 1,454.39 $14,516.83
23918K108 DAVITA INC. US DVA 5,974.29 $402,308.79
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 18,484.27 $17,467.63
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 2,344.4 $4,383.36
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,203.44 $10,994.24
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 1,516.98 $4,565.41
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 6,027.53 $8,685.26
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 592.3 $2,961.90
25271C102 DIAMOND OFFSHORE DRILLING US DO 10,978.6 $155,676.55
253868103 DIGITAL REALTY TRUST INC US DLR 284.25 $29,351.46
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 265,838.99 $245,871.05
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 28,983.79 $28,911.33
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 207.81 $479.30
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 22,699.1 $22,642.35
269246401 ETRADE FINANCIAL CORP US ETFC 2,627.64 $129,858.18
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,826.39 $133,888.42
277276101 EASTGROUP PROPERTIES US EGP 50.12 $4,800.88
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 7,437.94 $138,481.38
285512109 ELECTRONIC ARTS US EA 3,991.48 $363,144.64
2866857 LUNDIN MINING CORP CA LUN CN 3,241.07 $13,319.28
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 10,082.56 $10,043.52
29372JAB3 EFF 2017-2 A2 1.97000 01/20/2023 US 90,966.85 $90,275.84
294429105 EQUIFAX INC US EFX 2,503.7 $253,974.92
29444U700 EQUINIX INC US EQIX 952.71 $360,827.89
2945422 WEG SA BR WEGE3 BZ 577.81 $2,796.27
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 121.31 $11,487.01
29476L107 EQUITY RESIDENTIAL US EQR 547.11 $35,540.50
297178105 ESSEX PROPERTY TRUST INC US ESS 92.01 $23,073.08
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 201,952.87 $198,628.73
30225T102 EXTRA SPACE STORAGE INC US EXR 126.23 $11,368.24
30261KAN6 FREMF 2012-K711 B 3.57019 08/25/2045 US 45,322.69 $45,321.89
30261UAJ3 FREMF 2013-K713 B 3.15414 04/25/2046 US 150,155.51 $149,529.96
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 20,503.8 $20,790.85
30287EAE0 FREMF 2014-K41 B FLT 3.83206 11/25/2047 US 70,285.69 $68,831.67
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78471DAA5 SCLP 2016-1 A 3.26000 08/25/2025 US 52,163.77 $52,008.29
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 198,639.9 $198,056.79
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 364,842.58 $387,325.38
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 264,389.8 $258,532.38
806857108 SCHLUMBERGER LTD NL SLB 10,590.68 $543,407.81
808513105 CHARLES SCHWAB CORP/THE US SCHW 8,277.66 $382,758.83
81211K100 SEALED AIR CORP US SEE 10,633.48 $344,099.35
812578102 SEATTLE GENETICS INC US SGEN 6,264.88 $351,647.85
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 12,271.43 $11,872.61
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 62,870.24 $58,908.72
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 52,542.68 $45,779.86
81762P102 SERVICENOW INC US NOW 1,503.45 $272,184.00
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 14,093.67 $13,142.35
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 17,759.67 $17,804.07
828806109 SIMON PROPERTY GROUP INC US SPG 339.7 $62,341.92
83088M102 SKYWORKS SOLUTIONS INC US SWKS 3,211.03 $278,589.34
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 17,272.56 $17,093.33
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 19,424.01 $18,832.77
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 38,847.59 $38,717.93
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 90,222.79 $89,506.27
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 50,905.28 $50,687.54
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 116,390.54 $115,329.52
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 39,069.01 $38,662.24
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.46100 12/01/2023 US 7,695.32 $7,695.17
84265V105 SOUTHERN COPPER CORPORATION US SCCO 366.82 $14,063.86
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 16,144.05 $15,700.09
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 6,296.06 $6,308.65
852061AQ3 SPRINT COMMUNICATIONS 7.00000 03/01/2020 US 6,296.06 $6,524.29
85254J102 STAG INDUSTRIAL INC US STAG 444.39 $11,758.66
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.49950 11/15/2027 US 134,098 $134,116.20
862121100 STORE CAPITAL CORP US STOR 194.99 $5,660.47
866674104 SUN COMMUNITIES US SUI 235.99 $23,710.38
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 940.82 $13,613.64
874080104 TAL EDUCATION GROUP - ADR CN TAL 184.06 $5,333.98
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 12,271.43 $12,348.12
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 12,109.29 $12,067.46
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 17,759.67 $16,694.09
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 12,271.43 $10,967.59
882508104 TEXAS INSTRUMENTS INC US TXN 2,255.52 $209,379.85
88650V208 TIER REIT INC US TIER 856.32 $18,556.47
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 124,280.66 $120,657.31
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 105,920.42 $101,994.48
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 105,519.95 $100,701.67
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 22,844.02 $22,872.57
902653104 UDR INC US UDR 582.79 $22,839.43
903002103 UMH PROPERTIES INC US UMH 435.75 $6,244.23
904767704 UNILEVER PLC - ADR GB UL 9,076.84 $480,890.75
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 449,881.17 $582,437.96
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 766,028.55 $922,286.40
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 323,965.24 $287,759.60
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,050,587.24 $885,489.10
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 952,079.3 $881,826.26
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 547,358.84 $521,188.25
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 1,262,895.53 $1,222,147.42
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 922,013.29 $918,087.54
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 2,316,585.95 $2,277,101.44
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 628,948.2 $593,152.21
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,335,734.95 $1,204,039.83
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 816,585.38 $754,129.36
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 311,076.33 $299,490.63
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,236,742.73 $1,167,320.89
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,257,098.77 $1,186,779.80
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 144.92 $139.98
91704F104 URBAN EDGE PROPERTIES US UE 962.05 $19,712.34
92276F100 VENTAS INC US VTR 185.31 $10,755.13
92339V100 VEREIT INC US VER 2,087.18 $15,299.06
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 360,803.52 $375,947.60
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,116.61 $189,221.52
92826C839 VISA INC - CLASS A SHARES US V 5,203.83 $717,347.71
929042109 VORNADO REALTY TRUST US VNO 317.75 $21,632.28
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 17,759.67 $17,186.04
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 19,054.61 $19,435.70
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 12,996.02 $12,476.18
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 20,244.81 $19,131.35
948741103 WEINGARTEN REALTY INVESTORS US WRI 503.21 $14,150.20
95040Q104 WELLTOWER INC. US WELL 223.72 $14,781.39
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 22,523.33 $22,523.33
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 17,759.67 $16,583.10
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 207,534.48 $193,243.34
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 52,663.08 $52,525.51
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 62,872.81 $61,215.32
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 12,969.44 $387,526.92
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 28,983.79 $28,404.11
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 1,005.46 $9,213.01
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,444.52 $6,801.92
B02J639 ADMIRAL GROUP PLC GB ADM LN 253.12 $6,506.79
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 702.07 $9,270.32
B0386J1 JYSKE BANK-REG DK JYSK DC 203.42 $8,305.85
B058TZ6 SAFRAN SA FR SAF FP 50.27 $6,496.65
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 372.77 $6,217.29
B06JSP1 SYDBANK A/S DK SYDB DC 298.63 $6,897.60
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 29.62 $6,288.18
B09M9D2 KONE OYJ-B FI KNEBV FH 131.04 $6,378.27
B0C2CQ3 ENGIE FR ENGI FP 279.27 $3,710.69
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 378.37 $3,830.94
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 372.77 $13,261.22
B0MKZN5 TSURUHA HOLDINGS INC JP 3391 JP 69.37 $7,240.62
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 62.7 $13,220.94
B142S60 KUEHNE & NAGEL INTL AG-REG CH KNIN SW 45.51 $6,325.11
B15C557 TOTAL SA FR FP FP 391.67 $22,981.33
B19NLV4 EXPERIAN PLC GB EXPN LN 272.18 $6,259.87
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,572.33 $27,339.84
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,074.84 $5,629.42
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 282.01 $13,802.76
B1XH026 VINCI SA FR DG FP 256.28 $22,808.93
B1Y9TB3 DANONE FR BN FP 368.27 $26,078.21
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 2,485.14 $10,259.99
B1YXBJ7 AIR LIQUIDE FR AI FP 66.89 $8,086.29
B232R05 SK INNOVATION CO LTD KR 096770 KS 55.76 $10,464.73
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 248.51 $8,984.73
B283W97 CAIXABANK S.A ES CABK SM 5,683.79 $23,000.53
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 1,518.07 $2,975.14
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 124.26 $10,030.08
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 25,930.34 $19,746.61
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 79.32 $6,386.99
B3NB1P2 SUNCOR ENERGY INC CA SU CN 377.23 $12,653.94
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 317.89 $3,680.72
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 268,540.89 $12,565.33
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,133.85 $24,691.89
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 54.88 $2,483.61
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 436,767.43 $20,073.90
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 18,574.2 $14,135.03
B4R2R50 JULIUS BAER CH BAER SW 767.71 $35,011.21
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 372.77 $4,227.04
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 52,574.24 $13,531.29
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 57,287.23 $41,481.43
B4YVF56 BRENNTAG AG DE BNR GR 147.35 $7,695.28
B607XS1 VERMILION ENERGY INC CA VET CN 504.8 $13,386.35
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 648,970.17 $31,648.13
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,964 $21,139.60
B63QM77 NEXON CO LTD JP 3659 JP 1,046.85 $11,941.70
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 84,056.23 $3,771.87
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 133.06 $6,571.15
B8FMRX8 COLOPLAST-B DK COLOB DC 134.51 $12,551.50
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 468.04 $3,349.19
BB22L96 KION GROUP AG DE KGX GR 241.42 $14,107.66
BBG00KCGVZV0 MDT US 11/16/18 P90 IE -19.19 -$2,782.17
BBG00KCQF551 QRVO US 11/16/18 C77.5 US -16.41 -$3,528.66
BBG00KFDHCW0 QRVO US 11/16/18 P67.5 US -24.97 -$3,495.16
BBG00LL833R3 MSFT US 11/16/18 P100 US -17.11 -$1,556.66
BBG00M3T9DN1 BKNG US 11/09/18 C1960 US -.55 -$2,195.30
BBG00M420Q86 LULU US 11/09/18 P149 CA -8.7 -$7,088.85
BBG00M425WW1 MA US 11/09/18 P197.5 US -8.7 -$3,392.21
BBG00M5LJG30 GOOG US 11/23/18 C1110 US -1.39 -$3,052.47
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 248.51 $2,657.76
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 15,718.63 $6,821.96
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 80,781.15 $83,002.63
BD9Y9B7 BASIC-FIT NV NL BFIT NA 315.82 $9,093.00
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 15,138.96 $6,812.93
BDZV116 EPIROC AB-A SE EPIA SS 1,497.88 $13,153.49
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 702.07 $2,861.84
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 80,781.15 $74,924.52
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 139.53 $25,249.85
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 661.67 $4,745.42
BG7ZWY7 AMBEV SA BR ABEV3 BZ 2,164.16 $9,444.04
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 6,317.22 $9,945.67
BGLP232 MONCLER SPA IT MONC IM 184.78 $6,417.03
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 19,850.24 $15,255.14
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 144.76 $6,251.71
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 16,314.22 $558,913.29
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,851.66 $19,352.72
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 11,438.71 $322,394.89
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 537.42 $14,424.08
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 4,276.34 $10,934.40
BYQ32R1 NEMAK SAB DE CV MX 12,826.5 $9,263.16
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 23,981.85 $9,670.15
BYXS699 QIAGEN N.V. NL QIA GR 306.4 $11,121.95
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,186.09 $679,411.81
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 222.46 $13,702.73
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 193.01 $6,344.71
BZ3C3Q4 BANKIA SA ES BKIA SM 4,241.11 $13,321.51
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 36,272.12 $9,756.65
G02602103 AMDOCS LTD GG DOX 432.52 $27,365.81
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 200.37 $8,072.81
G27358103 DESPEGAR.COM CORP AR DESP 249.04 $4,002.03
G3157S106 ENSCO INTERNATIONAL INC US ESV 23,844.55 $170,250.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 28,011.57 $28,991.98
G5960L103 MEDTRONIC INC IE MDT 8,317.52 $747,079.94
G97822103 PERRIGO CO PLC IE PRGO 332.86 $23,399.84
H8817H100 TRANSOCEAN LTD US RIG 22,898.24 $252,109.58
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 118.61 $13,166.19
N22717107 CORE LABORATORIES N.V. NL CLB 105.46 $8,989.76
N47279109 INTERXION HOLDING NV NL INXN 5,024.66 $295,801.52
N72482123 QIAGEN N.V. ADR NL QGEN 213.52 $7,750.70
USD US DOLLAR US 1,243,846 $1,243,846.00

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 R6 Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 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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