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 moderately growth-oriented mix of securities that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 35% - 73%.

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 2030
  • Who have some time to pursue growth and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$9.51

Daily $ Change

$0.01

Daily % Change

0.11%

as of 11/14/2018

Ticker

MTPZX

CUSIP

56382R647

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

-1.68%

1 Year

-0.48%

3 Year

5.04%

5 Year

4.15%

10 Year

8.59%

Inception
(03/28/2008)

5.61%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 03/28/2008. 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 0.69%
Net 0.61%*

*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 12.40%
GOVERNMENT AGENCY 6.26%
TREASURY BONDS 5.15%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.85%
BOOKING HOLDINGS INC 1.58%
MASTERCARD INC-CLASS A 1.58%
INCYTE CORP 1.56%
QORVO INC 1.53%
MEDTRONIC INC 1.48%
VISA INC - CLASS A SHARES 1.41%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 10/31/2018

Stocks 52.88%
Bonds 45.70%
Cash 1.42%

Detailed Asset Class Allocation

As of 10/31/2018

International Equities 18.45%
Small Capitalization 0.72%
Mid Capitalization 6.38%
Large Capitalization 27.33%
Long Term Fixed Income 13.96%
Intermediate Term Fixed Income 24.78%
Short Term Fixed Income 6.96%
Cash 1.42%

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 22,648.22 $22,874.71
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 428,456.89 $415,501.65
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 331,481.85 $326,911.36
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 108,892.59 $112,159.37
004239109 ACADIA REALTY TRUST US AKR 422.31 $11,757.10
0045614 ANTOFAGASTA PLC GB ANTO LN 8,044.77 $80,528.36
0053673 ASHTEAD GROUP PLC GB AHT LN 888.28 $21,928.74
00724F101 ADOBE INC US ADBE 418.85 $102,935.60
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 423,119.02 $413,171.91
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 4,258.48 $115,362.33
008492100 AGREE REALTY CORP US ADC 229.15 $13,123.49
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 16,878.11 $17,345.63
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 90.59 $11,073.17
01609W102 ALIBABA GROUP - ADR CN BABA 7,458.59 $1,061,208.09
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 28,245.44 $28,386.67
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 27,986.1 $27,951.11
02079K107 ALPHABET INC-CL C US GOOG 904.57 $974,014.56
02079K305 ALPHABET INC-CL A US GOOGL 579.54 $632,038.72
02209S103 ALTRIA GROUP INC US MO 1,447.16 $94,123.18
023135106 AMAZON.COM INC US AMZN 373.7 $597,175.26
02319V103 AMBEV SA-ADR BR ABEV 169,840.36 $735,408.75
0237400 DIAGEO PLC GB DGE LN 35,243.91 $1,218,435.70
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 311.74 $12,316.74
0263494 BAE SYSTEMS PLC GB BA/ LN 5,201.15 $34,875.24
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,244.92 $47,300.44
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 439,997.13 $415,900.71
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 36,857.4 $36,120.25
03027X100 AMERICAN TOWER REIT INC US AMT 4,633.38 $721,926.78
03064D108 AMERICOLD REALTY TRUST US COLD 426.78 $10,562.88
03748R101 APARTMENT INVT & MGMT CO -A US AIV 832.21 $35,818.50
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,187.09 $19,195.19
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 106,757.44 $100,085.10
0405207 HALMA PLC GB HLMA LN 1,278.03 $21,688.67
0490656 KERRY GROUP PLC-A IE KYGA LN 414.71 $42,439.54
053332102 AUTOZONE INC US AZO 218.28 $160,104.80
053484101 AVALONBAY COMMUNITIES INC US AVB 525.81 $92,217.40
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 474,536.82 $452,770.01
058498106 BALL CORP US BLL 30,849.79 $1,382,070.73
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 643,549.83 $626,713.40
0822011 DS SMITH PLC GB SMDS LN 6,643.53 $33,334.58
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,247.97 $666,744.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 10,331.56 $952,259.80
0922320 SMITH & NEPHEW PLC GB SN/ LN 914.89 $14,871.40
09247X101 BLACKROCK INC US BLK 2,448.69 $1,007,438.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,020.77 $61,129.94
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 599,117.87 $626,025.54
09857L108 BOOKING HOLDINGS INC US BKNG 1,014.33 $1,901,448.93
101121101 BOSTON PROPERTIES INC US BXP 576.88 $69,664.19
105368203 BRANDYWINE REALTY TRUST US BDN 2,989.21 $42,028.28
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,133.53 $613,228.54
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 798.9 $34,672.44
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 23,080.47 $22,272.65
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 36,857.4 $35,935.96
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,000.4 $338,595.09
125269100 CF INDUSTRIES HOLDINGS INC US CF 2,438.73 $117,132.19
12572Q105 CME GROUP INC US CME 1,713.83 $314,043.09
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 423,119.02 $422,738.21
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 54,096.39 $52,135.40
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 118,023.69 $108,818.10
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 215,589.29 $208,868.94
13321L108 CAMECO CORP CA CCJ 1,869.87 $20,044.99
134429109 CAMPBELL SOUP CO US CPB 2,577.91 $96,439.72
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,460.02 $12,921.17
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 244,222.24 $243,136.99
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 67,880.2 $61,431.58
15672WAM6 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 106,757.44 $110,650.88
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 39,493.12 $39,382.16
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 391,106.39 $387,122.66
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 247,274.64 $243,981.29
165240102 CHESAPEAKE LODGING TRUST US CHSP 621.75 $18,273.10
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 445,335 $621,797.07
191216100 COCA COLA CO/THE US KO 15,586.56 $746,284.34
192422103 COGNEX CORP US CGNX 1,304.09 $55,867.00
194162103 COLGATE-PALMOLIVE CO US CL 1,229.74 $73,230.95
19626G108 COLONY CAPITAL INC US CLNY 2,592.22 $15,216.31
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 688.32 $20,456.81
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 1,147.27 $31,478.20
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 182.26 $15,580.62
21871N101 CORECIVIC INC US CXW 1,384.21 $31,089.37
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 269,336.15 $285,461.38
222795106 COUSINS PROPERTIES INC US CUZ 4,893.59 $40,665.77
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 34,620.71 $33,408.98
2242059 FOMENTO ECONOMICO EXICA-UBD MX 1,658.86 $14,130.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 240,738.03 $239,471.98
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 31,087.28 $29,874.87
22822V101 CROWN CASTLE INTL CORP US CCI 325.08 $35,349.41
228368106 CROWN HOLDINGS INC US CCK 975.58 $41,257.21
229663109 CUBESMART US CUBE 334.39 $9,690.49
2306814 EL PUERTO DE LIVERPOOL -C1 MX 1,950.95 $12,389.58
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 949.15 $10,877.71
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 22,648.22 $22,903.02
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 3,406.41 $34,000.68
23918K108 DAVITA INC. US DVA 13,593.46 $915,383.48
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 37,289.64 $35,238.71
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 5,448.16 $10,186.51
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,902.35 $25,899.94
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 3,574.45 $10,757.46
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 14,244.44 $20,525.26
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 1,366.03 $6,831.07
25271C102 DIAMOND OFFSHORE DRILLING US DO 26,316.43 $373,167.00
253393102 DICK'S SPORTING GOODS INC US DKS 3,199.48 $113,165.68
253868103 DIGITAL REALTY TRUST INC US DLR 594.62 $61,400.87
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 428,456.89 $396,274.26
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 106,757.44 $106,490.55
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 765.45 $1,765.42
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 44,055.98 $43,945.84
269246401 ETRADE FINANCIAL CORP US ETFC 6,794.48 $335,783.41
2715777 QUEBECOR INC -CL B CA QBR/B CN 18,280.87 $358,549.13
277276101 EASTGROUP PROPERTIES US EGP 104.37 $9,997.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,110.28 $374,418.36
285512109 ELECTRONIC ARTS US EA 9,652.15 $878,152.26
2866857 LUNDIN MINING CORP CA LUN CN 14,660.12 $60,246.32
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 37,137.6 $36,993.81
294429105 EQUIFAX INC US EFX 5,880.82 $596,550.46
29444U700 EQUINIX INC US EQIX 2,172.1 $822,659.68
2945422 WEG SA BR WEGE3 BZ 1,312.65 $6,352.50
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 245.6 $23,255.58
29476L107 EQUITY RESIDENTIAL US EQR 1,141.71 $74,165.79
297178105 ESSEX PROPERTY TRUST INC US ESS 192.73 $48,331.83
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 266,893.6 $262,500.53
30225T102 EXTRA SPACE STORAGE INC US EXR 260.24 $23,437.08
30261UAJ3 FREMF 2013-K713 B 3.15414 04/25/2046 US 266,893.6 $265,781.72
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 39,958.58 $40,518.00
30287EAE0 FREMF 2014-K41 B FLT 3.83206 11/25/2047 US 258,886.79 $253,531.15
30291EAE4 FREMF 2013-K712 B FLT 3.35777 05/25/2045 US 151,061.78 $150,813.90
30291XAE2 FREMF 2014-K715 B FLT 3.97812 02/25/2046 US 251,413.77 $253,310.06
30292HAU0 FREMF 2014- K503 B 3.02122 10/25/2047 US 266,893.6 $265,996.78
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 99,947.54 $106,882.02
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 108,913.02 $116,308.61
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 217,590.5 $223,819.61
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 86,656.33 $89,239.41
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 80,132.15 $83,075.67
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 93,469.77 $96,234.31
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 132,707.38 $133,061.25
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 413,475.75 $423,703.90
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 162,725.23 $160,568.96
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 96.36 $11,953.83
3137AME78 FHMS K017 X1 FLT 1.30551 12/25/2021 US 3,169,147.4 $105,690.75
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 4,096.58 $4,089.22
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 205,503.6 $208,366.10
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 212,949.58 $219,113.33
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 156,473.42 $157,660.27
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 241,762.28 $250,034.04
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 57,201.56 $62,238.09
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 131,793.24 $132,790.51
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 277,882.86 $295,890.11
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 568,696.88 $555,971.21
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 143,087.41 $147,923.15
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 337,076.99 $329,532.55
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 185,253.64 $185,385.52
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 535,432.92 $521,949.19
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 133,110.56 $136,416.90
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 539,214.4 $540,167.93
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 310,938.29 $324,899.93
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 305,265.49 $318,941.83
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 315,674.35 $323,615.73
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 241,269.25 $252,066.30
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 19,965.9 $20,306.83
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 24,251.37 $24,667.09
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 198,214.83 $207,924.74
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 93,756.39 $97,090.75
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 143,246.52 $147,406.93
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 535,922.35 $559,878.51
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 174,698.45 $165,456.97
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 321,443.61 $313,115.64
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 197,040.22 $201,928.16
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 115,190.31 $125,670.73
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 72,159.34 $77,210.16
31428X106 FEDEX CORPORATION US FDX 4,459.56 $982,619.62
3174300 BURBERRY GROUP PLC GB BRBY LN 670.53 $15,515.74
32054K103 FIRST INDUSTRIAL REALTY TR US FR 577.75 $17,736.80
3208986 NEXT PLC GB NXT LN 223.51 $14,848.50
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 27,986.1 $25,747.21
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 34,188.46 $33,590.16
35671D857 FREEPORT-MCMORAN INC US FCX 4,511.78 $52,562.24
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 1,556.08 $1,580.36
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 301,589.77 $300,656.05
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 65,655.83 $64,192.91
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 423,119.02 $422,507.19
371559105 GENESEE & WYOMING INC -CL A US GWR 8,151 $645,803.95
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 28,418.34 $25,718.60
374297109 GETTY REALTY CORP US GTY 729.22 $19,564.88
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 55,972.19 $53,313.51
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 261,225.77 $239,313.03
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 42,627.51 $41,348.69
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 151.68 $12,570.95
4012250 AIRBUS SE FR AIR FP 213.34 $23,577.37
404121AH8 HCA INC 5.37500 09/01/2026 US 31,519.52 $31,283.13
40414L109 HCP INC US HCP 1,257.62 $34,647.56
4057808 L'OREAL FR OR FP 140.14 $31,573.43
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 98.02 $29,738.59
4162791 THALES SA FR HO FP 32.82 $4,191.20
4163437 CAP GEMINI FR CAP FP 56.33 $6,878.00
421946104 HEALTHCARE REALTY TRUST INC US HR 807.76 $22,504.24
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 949.5 $24,933.78
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 318.86 $14,759.81
44107P104 HOST MARRIOTT CORP US HST 2,456.76 $46,948.67
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,937.87 $56,940.97
4497749 KBC GROEP NV BE KBC BB 304.65 $20,995.15
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 32,154.85 $31,109.82
45337C102 INCYTE CORP US INCY 29,077.52 $1,884,804.88
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 2,158.65 $21,392.20
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 30,169.3 $29,551.43
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,148.09 $319,568.88
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 427,720.02 $434,541.74
46120E602 INTUITIVE SURGICAL INC US ISRG 239.03 $124,578.61
46187BAA1 IHSFR 2017-SFR2 A 3.13950 12/17/2036 US 87,425.41 $87,507.31
46187BAB9 IHSFR 2017-SFR2 B 3.43950 12/17/2036 US 64,054.46 $64,476.21
46187W107 INVITATION HOMES INC US INVH 1,966.11 $43,018.58
464286624 ISHARES MSCI THAILAND ETF TH 1,021.07 $88,526.84
464287739 ISHARES DJ US REAL ESTATE US 472.51 $36,907.88
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 621,333.85 $631,396.24
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 65,973.11 $63,665.90
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 107,674.01 $105,474.34
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 215,423.75 $211,039.45
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 196,103.55 $188,274.70
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 263,657.24 $258,126.50
4682329 PERNOD-RICARD SA FR RI FP 83.38 $12,713.51
4712798 RENAULT SA FR RNO FP 83.81 $6,258.19
4741844 MERCK KGAA DE MRK GR 6,152.38 $658,321.07
476405105 JERNIGAN CAPITAL INC US JCAP 1,212.76 $23,733.73
478160104 JOHNSON & JOHNSON US JNJ 8,539.03 $1,195,378.51
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 65,470.61 $52,049.14
4821100 SOLVAY SA BE SOLB BB 436.35 $49,702.88
4834108 SCHNEIDER ELECTRIC SE FR SU FP 202.67 $14,655.04
4834777 VIVENDI FR VIV FP 337.03 $8,128.64
4846288 SAP AG DE SAP GR 140.14 $15,004.81
49446R109 KIMCO REALTY CORP US KIM 1,094.26 $17,606.60
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 538,672.3 $616,994.94
5002465 HENKEL AG & CO KGAA DE HEN GR 153.91 $15,076.94
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 480,408.48 $473,450.09
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 42,195.27 $40,085.50
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 39,526.33 $38,389.95
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 39,958.58 $41,457.02
5048566 SWEDISH MATCH AB SE SWMA SS 292.25 $14,886.59
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 25,317.16 $25,507.04
5107401 BEIERSDORF AG DE BEI GR 1,565.1 $161,826.83
512816109 LAMAR ADVERTISING CO US LAMR 211.41 $15,500.48
5176177 ORANGE FR ORA FP 693.26 $10,820.56
5253973 HERMES INTERNATIONAL FR RMS FP 26.61 $15,193.84
5263574 FLSMIDTH & CO A/S DK FLS DC 177.86 $9,332.32
5289837 ERSTE GROUP BANK AG AT EBS AV 533.5 $21,717.28
529043101 LEXINGTON REALTY TRUST US LXP 2,197.31 $17,073.10
531172104 LIBERTY PROPERTY TRUST US LPT 917.54 $38,417.60
5330047 DASSAULT SYSTEMES SA FR DSY FP 53.23 $6,663.26
53815P108 LIVERAMP HOLDINGS INC US RAMP 17,596.3 $803,798.76
5458314 AKZO NOBEL NL AKZA NA 1,929.62 $162,020.11
5474008 BANKINTER S.A. ES BKT SM 3,906.32 $32,004.33
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 9.3 $18,184.50
550021109 LULULEMON - ADR CA LULU 9,273.25 $1,305,025.01
5505072 KERING FR KER FP 29.72 $13,207.94
554382101 THE MACERICH CO US MAC 167.41 $8,641.65
5545670 JUNGHEINRICH AG DE JUN3 GR 655.46 $21,716.53
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 198,214.83 $209,317.53
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 44,055.98 $41,412.62
5669354 REPSOL SA ES REP SM 3,095.91 $55,320.10
5671519 WOLTERS KLUWER NL WKL NA 247.46 $14,039.26
5671735 SANOFI-AVENTIS FR SAN FP 400.07 $35,750.55
5713422 METSO OYJ FI METSO FH 976.99 $30,845.24
5727973 SIEMENS AG-REG DE SIE GR 372.52 $42,819.65
57636Q104 MASTERCARD INC-CLASS A US MA 9,616.69 $1,900,932.06
5852842 ACCOR SA FR AC FP 699.31 $31,952.98
58933Y105 MERCK & CO INC US MRK 10,069.27 $741,198.74
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 25,749.41 $22,659.48
594918104 MICROSOFT CORP US MSFT 14,704.88 $1,570,628.46
59522J103 MID-AMERICA APARTMENT COMM US MAA 390.79 $38,184.09
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 4.17 $28,740.60
5966516 SOCIETE GENERALE FR GLE FP 289.14 $10,599.31
5980613 GIVAUDAN - REG CH GIVN SW 5.77 $13,986.29
5999330 TELEPERFORMANCE FR TEP FP 86.48 $14,241.88
6054603 ASAHI KASEI CORP JP 3407 JP 1,312.65 $15,749.78
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 23,406.14 $982,589.56
6125286 TREND MICRO INC JP 4704 JP 532.28 $30,641.01
6129277 NTT DOCOMO INC JP 9437 JP 1,188.6 $29,475.99
6136749 OBIC CO LTD JP 4684 JP 363.5 $33,092.75
6141680 ORACLE CORP JAPAN JP 4716 JP 239.45 $16,208.11
6149457 KOBAYASHI PHARMACEUTICAL CO JP 4967 JP 239.45 $15,617.41
6171494 USS CO LTD JP 4732 JP 833.75 $15,034.06
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 621,333.85 $627,888.92
6175076 KT&G CORP KR 033780 KS 171.66 $15,306.78
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 478.9 $28,038.01
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 56,836.68 $57,689.24
6248990 KDDI CORP JP 9433 JP 1,188.6 $28,764.02
6250508 DAITO TRUST CONSTRUCT CO LTD JP 1878 JP 115.4 $15,214.46
6267058 OTSUKA CORP JP 4768 JP 478.9 $15,884.55
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 37,289.64 $33,933.57
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 39,206.61 $31,936.78
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 25,749.41 $23,946.95
6356934 FANUC LTD JP 6954 JP 124.05 $21,580.14
637417106 NATIONAL RETAIL PROPERTIES US NNN 406.8 $19,018.07
637870106 NATIONAL STORAGE AFFILIATES US NSA 362.8 $9,661.47
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 709.7 $31,463.69
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 22,648.22 $23,440.91
64110W102 NETEASE.COM INC- ADR CN NTES 135.23 $28,107.70
6441506 HOYA CORP JP 7741 JP 292.83 $16,567.00
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 211.54 $23,269.96
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 274.07 $22,731.64
6467104 ISUZU MOTORS LTD JP 7202 JP 1,188.6 $15,583.24
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 572.09 $33,472.73
6482903 KANAMOTO CO LTD JP 9678 JP 656.33 $21,931.57
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 77,884.77 $77,480.04
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 117,987.05 $117,257.28
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 119,636.01 $118,736.22
6483809 KAO CORP JP 4452 JP 239.45 $15,928.72
6490809 KIKKOMAN CORP JP 2801 JP 532.28 $29,162.07
6490995 KEYENCE CORP JP 6861 JP 295.86 $144,534.10
6518808 LION CORP JP 4912 JP 1,135.22 $21,343.21
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 12,506.27 $24,099.60
654106103 NIKE INC CLASS B US NKE 963.48 $72,299.20
6555805 MAKITA CORP JP 6586 JP 354.85 $12,268.07
6595179 MISUMI GROUP INC JP 9962 JP 771.73 $15,466.04
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 771.73 $15,616.11
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 15,572.19 $12,457.69
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 301.47 $14,214.85
6642387 YAMAHA CORP JP 7951 JP 718.35 $31,567.40
6644800 NITORI HOLDINGS CO LTD JP 9843 JP 115.4 $15,068.48
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 57,268.93 $57,661.22
66987V109 NOVARTIS AG- REG CH NVS 17,949.97 $1,569,904.75
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 241.19 $77,362.67
6742340 SHANDONG WEIGAO CN 1066 HK 19,197.85 $17,196.45
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 1,304.01 $23,355.69
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,832.88 $11,245.17
6791591 SECOM CO LTD JP 9735 JP 177.43 $14,526.15
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 957.8 $15,062.26
680665205 OLIN CORP US OLN 2,694.19 $54,422.58
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 119,034.55 $117,903.72
6865504 SUZUKI MOTOR CORP JP 7269 JP 656.33 $32,728.79
6885074 TERUMO CORP JP 4543 JP 594.3 $32,081.55
6895200 TOHO CO LTD JP 9602 JP 470.25 $15,342.24
6897466 TOTO LTD JP 5332 JP 416.88 $14,914.25
69007J106 OUTFRONT MEDIA INC US OUT 661.7 $11,725.40
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 16,675.02 $29,852.80
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 39,094.09 $39,631.63
6948836 WESFARMERS LTD AU WES AU 461.66 $15,289.27
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 1,346.41 $33,148.91
6985383 ASTELLAS PHARMA INC JP 4503 JP 1,019.82 $15,756.46
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 771.73 $15,152.16
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 41,575.03 $39,553.65
7088429 AXA SA FR CS FP 771.65 $19,311.79
7103065 NOVARTIS AG-REG CH NOVN SW 644 $56,396.25
7103526 PEUGEOT SA FR UG FP 176.05 $4,184.91
7110902 TECAN GROUP AG-REG CH TECN SW 47.46 $10,705.88
7123870 NESTLE SA-REGISTERED CH NESN SW 9,870.42 $833,291.84
713448108 PEPSICO INC US PEP 5,982.41 $672,302.76
7145056 ENI SPA IT ENI IM 1,847.52 $32,811.35
7156036 SONOVA HOLDING AG-REG CH SOON SW 92.25 $15,043.94
718172109 PHILIP MORRIS INTERNATIONAL US PM 1,330.02 $117,134.84
71943U104 PHYSICIANS REALTY TRUST US DOC 2,767.41 $45,883.59
7212477 ESSILORLUXOTTICA FR EL FP 208.87 $28,527.00
7262610 CREDIT AGRICOLE SA FR ACA FP 500.68 $6,412.44
729640102 PLYMOUTH INDUSTRIAL REIT INC US 873.55 $12,229.63
7309681 BNP PARIBAS FR BNP FP 438.15 $22,833.73
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 34,188.46 $34,591.88
7380062 AAREAL BANK AG DE ARL GR 584.06 $21,727.59
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 172.95 $6,515.33
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 654,225.57 $624,811.36
74340W103 PROLOGIS US PLD 1,405.13 $90,588.72
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 395,565.17 $411,585.56
74460D109 PUBLIC STORAGE INC US PSA 288.22 $59,221.50
74736K101 QORVO INC US QRVO 25,072.53 $1,843,081.69
756109104 REALTY INCOME CORP US O 201.17 $12,124.22
75886F107 REGENERON PHARMACEUTICALS INC US REGN 2,184.22 $740,974.63
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 22,215.98 $22,698.07
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,012.91 $66,558.06
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 221.71 $18,357.34
78410G104 SBA COMMUNICATIONS CORP US SBAC 4,430.6 $718,510.64
78442PGC4 SLM CORP 5.12500 04/05/2022 US 37,289.64 $37,103.19
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 359,719.65 $358,663.69
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 588,442.13 $624,703.88
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 423,119.02 $413,745.04
806857108 SCHLUMBERGER LTD NL SLB 25,073.5 $1,286,521.14
808513105 CHARLES SCHWAB CORP/THE US SCHW 19,753.31 $913,393.11
81211K100 SEALED AIR CORP US SEE 25,651.35 $830,077.82
812578102 SEATTLE GENETICS INC US SGEN 14,493.08 $813,496.68
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 23,080.47 $22,330.36
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 92,628.67 $86,792.05
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 82,065.73 $71,502.97
81762P102 SERVICENOW INC US NOW 4,214.41 $762,976.97
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 27,711.66 $25,841.12
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 33,756.21 $33,840.60
828806109 SIMON PROPERTY GROUP INC US SPG 703.03 $129,020.97
83088M102 SKYWORKS SOLUTIONS INC US SWKS 7,538.66 $654,054.39
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 143,089.28 $142,611.69
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 271,884.27 $269,725.07
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 428,707.12 $424,799.02
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.46100 12/01/2023 US 28,344.55 $28,343.99
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,604.98 $99,875.08
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 31,707.51 $30,835.56
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 12,434.91 $12,459.78
852061AQ3 SPRINT COMMUNICATIONS 7.00000 03/01/2020 US 12,434.91 $12,885.68
85254J102 STAG INDUSTRIAL INC US STAG 909.54 $24,066.37
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.49950 11/15/2027 US 196,561.26 $196,587.93
862121100 STORE CAPITAL CORP US STOR 408.1 $11,847.15
866674104 SUN COMMUNITIES US SUI 485.86 $48,813.97
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,948.26 $28,191.25
874080104 TAL EDUCATION GROUP - ADR CN TAL 430.22 $12,467.78
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 22,648.22 $22,789.78
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 44,602.77 $44,448.67
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 33,756.21 $31,730.84
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 23,080.47 $20,628.17
882508104 TEXAS INSTRUMENTS INC US TXN 4,606.58 $427,629.15
883556102 THERMO FISHER SCIENTIFIC INC US TMO 284.85 $66,555.17
88650V208 TIER REIT INC US TIER 1,771.9 $38,397.06
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 208,688.48 $202,604.25
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 171,675.22 $165,312.08
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 159,965.52 $152,661.13
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 44,589.76 $44,645.50
902653104 UDR INC US UDR 1,214.57 $47,598.81
903002103 UMH PROPERTIES INC US UMH 901.96 $12,925.13
90384S303 ULTA BEAUTY INC US ULTA 294.79 $80,926.17
904767704 UNILEVER PLC - ADR GB UL 22,144.05 $1,173,191.67
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 874,683.91 $1,132,408.16
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,495,693.94 $1,800,792.14
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 623,911.56 $554,184.57
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,936,046.17 $1,631,799.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,778,183.88 $1,646,973.36
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 2,514,234.11 $2,394,022.30
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 2,453,301.52 $2,374,144.23
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 1,241,981.89 $1,236,693.77
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,497,836.24 $3,438,218.18
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 2,316,636.44 $2,184,787.26
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,599,460.45 $2,343,169.90
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 597,797.91 $575,533.58
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 2,371,659.49 $2,238,531.58
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,297,953.89 $2,169,412.09
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 533.79 $515.59
91704F104 URBAN EDGE PROPERTIES US UE 1,990.45 $40,784.33
92276F100 VENTAS INC US VTR 384.16 $22,296.38
92339V100 VEREIT INC US VER 4,342.61 $31,831.36
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 583,104.26 $607,579.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,659.73 $450,717.78
92826C839 VISA INC - CLASS A SHARES US V 12,307.78 $1,696,627.35
929042109 VORNADO REALTY TRUST US VNO 658.17 $44,808.26
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 34,188.46 $33,084.17
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 33,756.21 $34,431.34
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 25,317.16 $24,304.47
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 39,612.78 $37,434.08
948741103 WEINGARTEN REALTY INVESTORS US WRI 1,051.12 $29,557.55
95040Q104 WELLTOWER INC. US WELL 463.21 $30,604.15
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 42,627.51 $42,627.51
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 34,188.46 $31,923.47
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 335,119.6 $312,042.75
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 76,589.05 $76,388.97
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 90,367.3 $87,984.99
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 32,505.19 $971,255.04
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 106,757.44 $104,622.29
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 2,323.83 $21,293.17
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,281.63 $15,452.43
B02J639 ADMIRAL GROUP PLC GB ADM LN 598.7 $15,390.18
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,605.48 $21,199.31
B0386J1 JYSKE BANK-REG DK JYSK DC 479.84 $19,592.31
B058TZ6 SAFRAN SA FR SAF FP 116.19 $15,015.08
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 895.77 $14,940.26
B06JSP1 SYDBANK A/S DK SYDB DC 706.02 $16,307.13
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 68.73 $14,594.29
B09M9D2 KONE OYJ-B FI KNEBV FH 308.26 $15,004.26
B0C2CQ3 ENGIE FR ENGI FP 658.56 $8,750.39
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 884.31 $8,953.60
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 895.77 $31,866.98
B0MKZN5 TSURUHA HOLDINGS INC JP 3391 JP 177.43 $18,517.99
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 145.91 $30,766.50
B142S60 KUEHNE & NAGEL INTL AG-REG CH KNIN SW 106.89 $14,855.77
B15C557 TOTAL SA FR FP FP 923.76 $54,201.77
B19NLV4 EXPERIAN PLC GB EXPN LN 633.32 $14,565.86
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 3,712.79 $64,558.49
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,518.54 $13,190.79
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 664.33 $32,514.82
B1XH026 VINCI SA FR DG FP 1,735.43 $154,451.35
B1Y9TB3 DANONE FR BN FP 869.67 $61,583.85
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 5,943.02 $24,535.99
B1YXBJ7 AIR LIQUIDE FR AI FP 157.01 $18,980.78
B232R05 SK INNOVATION CO LTD KR 096770 KS 127.73 $23,971.39
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 594.3 $21,486.29
B283W97 CAIXABANK S.A ES CABK SM 33,897.14 $137,171.22
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 3,125.96 $6,126.31
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 301.47 $24,335.09
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 45,905.7 $34,958.35
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 188.03 $15,140.65
B3NB1P2 SUNCOR ENERGY INC CA SU CN 891.38 $29,901.03
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 771.73 $8,935.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 474,003.03 $22,179.14
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 54,446.29 $41,836.94
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 124.05 $5,613.54
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 770,254.93 $35,401.03
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 45,725.11 $34,796.96
B4R2R50 JULIUS BAER CH BAER SW 3,666.35 $167,203.09
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 895.77 $10,157.65
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 127,023.09 $32,692.56
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 100,351.99 $72,664.44
B4YVF56 BRENNTAG AG DE BNR GR 340.57 $17,785.90
B607XS1 VERMILION ENERGY INC CA VET CN 1,192.06 $31,611.42
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,114,013.88 $54,326.77
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 4,636.55 $49,905.76
B63QM77 NEXON CO LTD JP 3659 JP 2,445.42 $27,895.50
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 148,392.84 $6,658.86
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 312.66 $15,440.56
B8FMRX8 COLOPLAST-B DK COLOB DC 317.13 $29,592.56
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 1,073.2 $7,679.52
BB22L96 KION GROUP AG DE KGX GR 572.09 $33,430.22
BBG00KCGVZV0 MDT US 11/16/18 P90 IE -41.1 -$5,959.73
BBG00KCQF551 QRVO US 11/16/18 C77.5 US -34.7 -$7,459.68
BBG00KFDHCW0 QRVO US 11/16/18 P67.5 US -52.84 -$7,398.29
BBG00LL833R3 MSFT US 11/16/18 P100 US -36.3 -$3,303.08
BBG00M3T9DN1 BKNG US 11/09/18 C1960 US -1.07 -$4,270.30
BBG00M420Q86 LULU US 11/09/18 P149 CA -18.68 -$15,226.28
BBG00M425WW1 MA US 11/09/18 P197.5 US -18.68 -$7,286.20
BBG00M5LJG30 GOOG US 11/23/18 C1110 US -3.2 -$7,045.99
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 594.3 $6,355.82
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 36,898.57 $16,014.15
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 106,757.44 $109,693.27
BD9Y9B7 BASIC-FIT NV NL BFIT NA 744.61 $21,438.36
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 34,590.52 $15,566.65
BDZV116 EPIROC AB-A SE EPIA SS 3,511.06 $30,832.04
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 1,605.48 $6,544.44
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 124,047.26 $115,053.84
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 303.58 $54,935.19
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 1,552.1 $11,131.41
BG7ZWY7 AMBEV SA BR ABEV3 BZ 5,055.89 $22,063.04
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 13,074.25 $20,583.77
BGLP232 MONCLER SPA IT MONC IM 434.62 $15,093.24
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 46,476.55 $35,717.77
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 340.14 $14,689.26
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 39,329.17 $1,347,388.36
BNGN9Z1 FINECOBANK SPA IT FBK IM 12,227.07 $127,792.09
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 27,621.61 $778,502.64
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 1,250.63 $33,566.31
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 10,037.3 $25,664.90
BYQ32R1 NEMAK SAB DE CV MX 30,271.78 $21,861.94
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 56,054.54 $22,602.75
BYXS699 QIAGEN N.V. NL QIA GR 709.05 $25,737.30
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 20,865.33 $1,543,219.70
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 525.08 $32,342.32
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 453.23 $14,898.29
BZ3C3Q4 BANKIA SA ES BKIA SM 26,977.96 $84,738.87
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 85,637.58 $23,035.21
G02602103 AMDOCS LTD GG DOX 2,690.58 $170,233.11
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 3,272.1 $80,755.41
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 460.37 $18,548.21
G27358103 DESPEGAR.COM CORP AR DESP 567.61 $9,121.53
G3157S106 ENSCO INTERNATIONAL INC US ESV 59,174.8 $422,508.10
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 53,303.26 $55,168.87
G5960L103 MEDTRONIC INC IE MDT 19,848.94 $1,782,831.80
G97822103 PERRIGO CO PLC IE PRGO 2,258.3 $158,758.19
H8817H100 TRANSOCEAN LTD US RIG 50,275.71 $553,535.52
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 279.84 $31,062.29
N22717107 CORE LABORATORIES N.V. NL CLB 247.46 $21,093.19
N47279109 INTERXION HOLDING NV NL INXN 11,446.15 $673,834.88
N59465109 MYLAN NV US MYL 1,331.32 $41,603.64
N72482123 QIAGEN N.V. ADR NL QGEN 2,758.58 $100,136.57
USD US DOLLAR US 1,731,101.14 $1,731,101.14

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series and Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series and Manning & Napier Fund, Inc. Blended Asset Extended 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 2030 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

$9.51

Daily $ Change

$0.01

Daily % Change

0.11%

as of 11/14/2018

Ticker

MTPZX

CUSIP

56382R647

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 moderately growth-oriented mix of securities that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 35% - 73%.

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 2030
  • Who have some time to pursue growth 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

-1.68%

1 Year

-0.48%

3 Year

5.04%

5 Year

4.15%

10 Year

8.59%

Inception
(03/28/2008)

5.61%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 03/28/2008. 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 0.69%
Net 0.61%*

*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 12.40%
GOVERNMENT AGENCY 6.26%
TREASURY BONDS 5.15%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 2.85%
BOOKING HOLDINGS INC 1.58%
MASTERCARD INC-CLASS A 1.58%
INCYTE CORP 1.56%
QORVO INC 1.53%
MEDTRONIC INC 1.48%
VISA INC - CLASS A SHARES 1.41%

Top Ten Investments list is unaudited and excludes cash

Asset Allocation

As of 10/31/2018

Stocks
52.88%
Bonds
45.70%
Cash
1.42%

Detailed Asset Class Allocation

As of 10/31/2018

International Equities
18.45%
Small Capitalization
0.72%
Mid Capitalization
6.38%
Large Capitalization
27.33%
Long Term Fixed Income
13.96%
Intermediate Term Fixed Income
24.78%
Short Term Fixed Income
6.96%
Cash
1.42%

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 22,648.22 $22,874.71
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 428,456.89 $415,501.65
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 331,481.85 $326,911.36
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 108,892.59 $112,159.37
004239109 ACADIA REALTY TRUST US AKR 422.31 $11,757.10
0045614 ANTOFAGASTA PLC GB ANTO LN 8,044.77 $80,528.36
0053673 ASHTEAD GROUP PLC GB AHT LN 888.28 $21,928.74
00724F101 ADOBE INC US ADBE 418.85 $102,935.60
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 423,119.02 $413,171.91
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 4,258.48 $115,362.33
008492100 AGREE REALTY CORP US ADC 229.15 $13,123.49
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 16,878.11 $17,345.63
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 90.59 $11,073.17
01609W102 ALIBABA GROUP - ADR CN BABA 7,458.59 $1,061,208.09
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 28,245.44 $28,386.67
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 27,986.1 $27,951.11
02079K107 ALPHABET INC-CL C US GOOG 904.57 $974,014.56
02079K305 ALPHABET INC-CL A US GOOGL 579.54 $632,038.72
02209S103 ALTRIA GROUP INC US MO 1,447.16 $94,123.18
023135106 AMAZON.COM INC US AMZN 373.7 $597,175.26
02319V103 AMBEV SA-ADR BR ABEV 169,840.36 $735,408.75
0237400 DIAGEO PLC GB DGE LN 35,243.91 $1,218,435.70
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 311.74 $12,316.74
0263494 BAE SYSTEMS PLC GB BA/ LN 5,201.15 $34,875.24
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,244.92 $47,300.44
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 439,997.13 $415,900.71
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 36,857.4 $36,120.25
03027X100 AMERICAN TOWER REIT INC US AMT 4,633.38 $721,926.78
03064D108 AMERICOLD REALTY TRUST US COLD 426.78 $10,562.88
03748R101 APARTMENT INVT & MGMT CO -A US AIV 832.21 $35,818.50
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,187.09 $19,195.19
03969AAL4 ARDAGH PKG FIN/HLDGS USA 6.00000 02/15/2025 IE 106,757.44 $100,085.10
0405207 HALMA PLC GB HLMA LN 1,278.03 $21,688.67
0490656 KERRY GROUP PLC-A IE KYGA LN 414.71 $42,439.54
053332102 AUTOZONE INC US AZO 218.28 $160,104.80
053484101 AVALONBAY COMMUNITIES INC US AVB 525.81 $92,217.40
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 474,536.82 $452,770.01
058498106 BALL CORP US BLL 30,849.79 $1,382,070.73
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 643,549.83 $626,713.40
0822011 DS SMITH PLC GB SMDS LN 6,643.53 $33,334.58
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 3,247.97 $666,744.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 10,331.56 $952,259.80
0922320 SMITH & NEPHEW PLC GB SN/ LN 914.89 $14,871.40
09247X101 BLACKROCK INC US BLK 2,448.69 $1,007,438.00
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,020.77 $61,129.94
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 599,117.87 $626,025.54
09857L108 BOOKING HOLDINGS INC US BKNG 1,014.33 $1,901,448.93
101121101 BOSTON PROPERTIES INC US BXP 576.88 $69,664.19
105368203 BRANDYWINE REALTY TRUST US BDN 2,989.21 $42,028.28
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,133.53 $613,228.54
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 798.9 $34,672.44
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 23,080.47 $22,272.65
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 36,857.4 $35,935.96
12503M108 CBOE GLOBAL MARKETS INC US CBOE 3,000.4 $338,595.09
125269100 CF INDUSTRIES HOLDINGS INC US CF 2,438.73 $117,132.19
12572Q105 CME GROUP INC US CME 1,713.83 $314,043.09
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 423,119.02 $422,738.21
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 54,096.39 $52,135.40
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 118,023.69 $108,818.10
12648TAA7 CSMC 2014-IVR3 A1 3.50000 07/25/2044 US 215,589.29 $208,868.94
13321L108 CAMECO CORP CA CCJ 1,869.87 $20,044.99
134429109 CAMPBELL SOUP CO US CPB 2,577.91 $96,439.72
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,460.02 $12,921.17
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 244,222.24 $243,136.99
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 67,880.2 $61,431.58
15672WAM6 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 106,757.44 $110,650.88
165183AA2 CFII 2016-1A A1 2.11000 03/15/2028 US 39,493.12 $39,382.16
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 391,106.39 $387,122.66
165183BB9 CFII 2017-4A A1 2.12000 11/15/2029 US 247,274.64 $243,981.29
165240102 CHESAPEAKE LODGING TRUST US CHSP 621.75 $18,273.10
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 445,335 $621,797.07
191216100 COCA COLA CO/THE US KO 15,586.56 $746,284.34
192422103 COGNEX CORP US CGNX 1,304.09 $55,867.00
194162103 COLGATE-PALMOLIVE CO US CL 1,229.74 $73,230.95
19626G108 COLONY CAPITAL INC US CLNY 2,592.22 $15,216.31
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 688.32 $20,456.81
2171573 CANADIAN NATURAL RESOURCES CA CNQ CN 1,147.27 $31,478.20
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 182.26 $15,580.62
21871N101 CORECIVIC INC US CXW 1,384.21 $31,089.37
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 269,336.15 $285,461.38
222795106 COUSINS PROPERTIES INC US CUZ 4,893.59 $40,665.77
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 34,620.71 $33,408.98
2242059 FOMENTO ECONOMICO EXICA-UBD MX 1,658.86 $14,130.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 240,738.03 $239,471.98
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 31,087.28 $29,874.87
22822V101 CROWN CASTLE INTL CORP US CCI 325.08 $35,349.41
228368106 CROWN HOLDINGS INC US CCK 975.58 $41,257.21
229663109 CUBESMART US CUBE 334.39 $9,690.49
2306814 EL PUERTO DE LIVERPOOL -C1 MX 1,950.95 $12,389.58
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 949.15 $10,877.71
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 22,648.22 $22,903.02
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 3,406.41 $34,000.68
23918K108 DAVITA INC. US DVA 13,593.46 $915,383.48
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 37,289.64 $35,238.71
2392471 GRUPO BIMBO SAB- SERIES A MX BIMBOA MM 5,448.16 $10,186.51
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,902.35 $25,899.94
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 3,574.45 $10,757.46
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 14,244.44 $20,525.26
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 1,366.03 $6,831.07
25271C102 DIAMOND OFFSHORE DRILLING US DO 26,316.43 $373,167.00
253393102 DICK'S SPORTING GOODS INC US DKS 3,199.48 $113,165.68
253868103 DIGITAL REALTY TRUST INC US DLR 594.62 $61,400.87
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 428,456.89 $396,274.26
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 106,757.44 $106,490.55
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 765.45 $1,765.42
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 44,055.98 $43,945.84
269246401 ETRADE FINANCIAL CORP US ETFC 6,794.48 $335,783.41
2715777 QUEBECOR INC -CL B CA QBR/B CN 18,280.87 $358,549.13
277276101 EASTGROUP PROPERTIES US EGP 104.37 $9,997.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 20,110.28 $374,418.36
285512109 ELECTRONIC ARTS US EA 9,652.15 $878,152.26
2866857 LUNDIN MINING CORP CA LUN CN 14,660.12 $60,246.32
29372EBS6 EFF 2016-2 A2 1.74000 02/22/2022 US 37,137.6 $36,993.81
294429105 EQUIFAX INC US EFX 5,880.82 $596,550.46
29444U700 EQUINIX INC US EQIX 2,172.1 $822,659.68
2945422 WEG SA BR WEGE3 BZ 1,312.65 $6,352.50
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 245.6 $23,255.58
29476L107 EQUITY RESIDENTIAL US EQR 1,141.71 $74,165.79
297178105 ESSEX PROPERTY TRUST INC US ESS 192.73 $48,331.83
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 266,893.6 $262,500.53
30225T102 EXTRA SPACE STORAGE INC US EXR 260.24 $23,437.08
30261UAJ3 FREMF 2013-K713 B 3.15414 04/25/2046 US 266,893.6 $265,781.72
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 39,958.58 $40,518.00
30287EAE0 FREMF 2014-K41 B FLT 3.83206 11/25/2047 US 258,886.79 $253,531.15
30291EAE4 FREMF 2013-K712 B FLT 3.35777 05/25/2045 US 151,061.78 $150,813.90
30291XAE2 FREMF 2014-K715 B FLT 3.97812 02/25/2046 US 251,413.77 $253,310.06
30292HAU0 FREMF 2014- K503 B 3.02122 10/25/2047 US 266,893.6 $265,996.78
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 99,947.54 $106,882.02
3128M6NS3 FHLM POOL G04601 5.50000 07/01/2038 US 108,913.02 $116,308.61
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 217,590.5 $223,819.61
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 86,656.33 $89,239.41
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 80,132.15 $83,075.67
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 93,469.77 $96,234.31
3132QQFU1 FHLM POOL Q33778 4.00000 06/01/2045 US 132,707.38 $133,061.25
3132XYDL8 FHLM POOL Q55506 4.50000 04/01/2048 US 413,475.75 $423,703.90
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 162,725.23 $160,568.96
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 96.36 $11,953.83
3137AME78 FHMS K017 X1 FLT 1.30551 12/25/2021 US 3,169,147.4 $105,690.75
3137ATSC7 FEDERAL NATL MTG ASSN KP01 A2 1.72000 01/25/2019 US 4,096.58 $4,089.22
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 205,503.6 $208,366.10
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 212,949.58 $219,113.33
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 156,473.42 $157,660.27
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 241,762.28 $250,034.04
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 57,201.56 $62,238.09
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 131,793.24 $132,790.51
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65400 01/01/2049 US 277,882.86 $295,890.11
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 568,696.88 $555,971.21
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 143,087.41 $147,923.15
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 337,076.99 $329,532.55
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 185,253.64 $185,385.52
3140H2PH5 FEDERAL NATL MATG ASSN FN BJ1323 3.50000 11/01/2047 US 535,432.92 $521,949.19
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 133,110.56 $136,416.90
3140J8YU1 FEDERAL NATL MTGE ASSN FN BM4322 4.00000 07/01/2048 US 539,214.4 $540,167.93
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 310,938.29 $324,899.93
3140Q9D42 FEDERAL NATL MTG ASSN FN CA1922 5.00000 06/01/2048 US 305,265.49 $318,941.83
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 315,674.35 $323,615.73
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 241,269.25 $252,066.30
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 19,965.9 $20,306.83
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 24,251.37 $24,667.09
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 198,214.83 $207,924.74
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 93,756.39 $97,090.75
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 143,246.52 $147,406.93
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 535,922.35 $559,878.51
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 174,698.45 $165,456.97
31418CQA5 FEDERAL NATL MTGE ASSN FN MA3148 3.50000 10/01/2047 US 321,443.61 $313,115.64
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 197,040.22 $201,928.16
31418MGR7 FEDERAL NATL MTG ASSN AD0207 6.00000 10/01/2038 US 115,190.31 $125,670.73
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 72,159.34 $77,210.16
31428X106 FEDEX CORPORATION US FDX 4,459.56 $982,619.62
3174300 BURBERRY GROUP PLC GB BRBY LN 670.53 $15,515.74
32054K103 FIRST INDUSTRIAL REALTY TR US FR 577.75 $17,736.80
3208986 NEXT PLC GB NXT LN 223.51 $14,848.50
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 27,986.1 $25,747.21
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 34,188.46 $33,590.16
35671D857 FREEPORT-MCMORAN INC US FCX 4,511.78 $52,562.24
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 1,556.08 $1,580.36
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 301,589.77 $300,656.05
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 65,655.83 $64,192.91
37045VAR1 GENERAL MOTORS CO FLT 3.22706 09/10/2021 US 423,119.02 $422,507.19
371559105 GENESEE & WYOMING INC -CL A US GWR 8,151 $645,803.95
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 28,418.34 $25,718.60
374297109 GETTY REALTY CORP US GTY 729.22 $19,564.88
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 55,972.19 $53,313.51
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 261,225.77 $239,313.03
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 42,627.51 $41,348.69
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 151.68 $12,570.95
4012250 AIRBUS SE FR AIR FP 213.34 $23,577.37
404121AH8 HCA INC 5.37500 09/01/2026 US 31,519.52 $31,283.13
40414L109 HCP INC US HCP 1,257.62 $34,647.56
4057808 L'OREAL FR OR FP 140.14 $31,573.43
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 98.02 $29,738.59
4162791 THALES SA FR HO FP 32.82 $4,191.20
4163437 CAP GEMINI FR CAP FP 56.33 $6,878.00
421946104 HEALTHCARE REALTY TRUST INC US HR 807.76 $22,504.24
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 949.5 $24,933.78
4354350 FUCHS PETROLUB SE - PREF DE FPE3 GR 318.86 $14,759.81
44107P104 HOST MARRIOTT CORP US HST 2,456.76 $46,948.67
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,937.87 $56,940.97
4497749 KBC GROEP NV BE KBC BB 304.65 $20,995.15
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 32,154.85 $31,109.82
45337C102 INCYTE CORP US INCY 29,077.52 $1,884,804.88
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 2,158.65 $21,392.20
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 30,169.3 $29,551.43
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,148.09 $319,568.88
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 427,720.02 $434,541.74
46120E602 INTUITIVE SURGICAL INC US ISRG 239.03 $124,578.61
46187BAA1 IHSFR 2017-SFR2 A 3.13950 12/17/2036 US 87,425.41 $87,507.31
46187BAB9 IHSFR 2017-SFR2 B 3.43950 12/17/2036 US 64,054.46 $64,476.21
46187W107 INVITATION HOMES INC US INVH 1,966.11 $43,018.58
464286624 ISHARES MSCI THAILAND ETF TH 1,021.07 $88,526.84
464287739 ISHARES DJ US REAL ESTATE US 472.51 $36,907.88
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 621,333.85 $631,396.24
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 65,973.11 $63,665.90
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 107,674.01 $105,474.34
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 215,423.75 $211,039.45
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 196,103.55 $188,274.70
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 263,657.24 $258,126.50
4682329 PERNOD-RICARD SA FR RI FP 83.38 $12,713.51
4712798 RENAULT SA FR RNO FP 83.81 $6,258.19
4741844 MERCK KGAA DE MRK GR 6,152.38 $658,321.07
476405105 JERNIGAN CAPITAL INC US JCAP 1,212.76 $23,733.73
478160104 JOHNSON & JOHNSON US JNJ 8,539.03 $1,195,378.51
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 65,470.61 $52,049.14
4821100 SOLVAY SA BE SOLB BB 436.35 $49,702.88
4834108 SCHNEIDER ELECTRIC SE FR SU FP 202.67 $14,655.04
4834777 VIVENDI FR VIV FP 337.03 $8,128.64
4846288 SAP AG DE SAP GR 140.14 $15,004.81
49446R109 KIMCO REALTY CORP US KIM 1,094.26 $17,606.60
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 538,672.3 $616,994.94
5002465 HENKEL AG & CO KGAA DE HEN GR 153.91 $15,076.94
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 480,408.48 $473,450.09
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 42,195.27 $40,085.50
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 39,526.33 $38,389.95
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 39,958.58 $41,457.02
5048566 SWEDISH MATCH AB SE SWMA SS 292.25 $14,886.59
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 25,317.16 $25,507.04
5107401 BEIERSDORF AG DE BEI GR 1,565.1 $161,826.83
512816109 LAMAR ADVERTISING CO US LAMR 211.41 $15,500.48
5176177 ORANGE FR ORA FP 693.26 $10,820.56
5253973 HERMES INTERNATIONAL FR RMS FP 26.61 $15,193.84
5263574 FLSMIDTH & CO A/S DK FLS DC 177.86 $9,332.32
5289837 ERSTE GROUP BANK AG AT EBS AV 533.5 $21,717.28
529043101 LEXINGTON REALTY TRUST US LXP 2,197.31 $17,073.10
531172104 LIBERTY PROPERTY TRUST US LPT 917.54 $38,417.60
5330047 DASSAULT SYSTEMES SA FR DSY FP 53.23 $6,663.26
53815P108 LIVERAMP HOLDINGS INC US RAMP 17,596.3 $803,798.76
5458314 AKZO NOBEL NL AKZA NA 1,929.62 $162,020.11
5474008 BANKINTER S.A. ES BKT SM 3,906.32 $32,004.33
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 9.3 $18,184.50
550021109 LULULEMON - ADR CA LULU 9,273.25 $1,305,025.01
5505072 KERING FR KER FP 29.72 $13,207.94
554382101 THE MACERICH CO US MAC 167.41 $8,641.65
5545670 JUNGHEINRICH AG DE JUN3 GR 655.46 $21,716.53
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 198,214.83 $209,317.53
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 44,055.98 $41,412.62
5669354 REPSOL SA ES REP SM 3,095.91 $55,320.10
5671519 WOLTERS KLUWER NL WKL NA 247.46 $14,039.26
5671735 SANOFI-AVENTIS FR SAN FP 400.07 $35,750.55
5713422 METSO OYJ FI METSO FH 976.99 $30,845.24
5727973 SIEMENS AG-REG DE SIE GR 372.52 $42,819.65
57636Q104 MASTERCARD INC-CLASS A US MA 9,616.69 $1,900,932.06
5852842 ACCOR SA FR AC FP 699.31 $31,952.98
58933Y105 MERCK & CO INC US MRK 10,069.27 $741,198.74
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 25,749.41 $22,659.48
594918104 MICROSOFT CORP US MSFT 14,704.88 $1,570,628.46
59522J103 MID-AMERICA APARTMENT COMM US MAA 390.79 $38,184.09
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 4.17 $28,740.60
5966516 SOCIETE GENERALE FR GLE FP 289.14 $10,599.31
5980613 GIVAUDAN - REG CH GIVN SW 5.77 $13,986.29
5999330 TELEPERFORMANCE FR TEP FP 86.48 $14,241.88
6054603 ASAHI KASEI CORP JP 3407 JP 1,312.65 $15,749.78
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 23,406.14 $982,589.56
6125286 TREND MICRO INC JP 4704 JP 532.28 $30,641.01
6129277 NTT DOCOMO INC JP 9437 JP 1,188.6 $29,475.99
6136749 OBIC CO LTD JP 4684 JP 363.5 $33,092.75
6141680 ORACLE CORP JAPAN JP 4716 JP 239.45 $16,208.11
6149457 KOBAYASHI PHARMACEUTICAL CO JP 4967 JP 239.45 $15,617.41
6171494 USS CO LTD JP 4732 JP 833.75 $15,034.06
61744YAG3 MORGAN STANLEY FLT 3.56325 05/08/2024 US 621,333.85 $627,888.92
6175076 KT&G CORP KR 033780 KS 171.66 $15,306.78
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 478.9 $28,038.01
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 56,836.68 $57,689.24
6248990 KDDI CORP JP 9433 JP 1,188.6 $28,764.02
6250508 DAITO TRUST CONSTRUCT CO LTD JP 1878 JP 115.4 $15,214.46
6267058 OTSUKA CORP JP 4768 JP 478.9 $15,884.55
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 37,289.64 $33,933.57
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 39,206.61 $31,936.78
62943WAE9 NRG YIELD OPERATING LLC 5.00000 09/15/2026 US 25,749.41 $23,946.95
6356934 FANUC LTD JP 6954 JP 124.05 $21,580.14
637417106 NATIONAL RETAIL PROPERTIES US NNN 406.8 $19,018.07
637870106 NATIONAL STORAGE AFFILIATES US NSA 362.8 $9,661.47
6390921 NOMURA RESEARCH INSTITUTE LT JP 4307 JP 709.7 $31,463.69
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 22,648.22 $23,440.91
64110W102 NETEASE.COM INC- ADR CN NTES 135.23 $28,107.70
6441506 HOYA CORP JP 7741 JP 292.83 $16,567.00
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 211.54 $23,269.96
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 274.07 $22,731.64
6467104 ISUZU MOTORS LTD JP 7202 JP 1,188.6 $15,583.24
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 572.09 $33,472.73
6482903 KANAMOTO CO LTD JP 9678 JP 656.33 $21,931.57
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 77,884.77 $77,480.04
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 117,987.05 $117,257.28
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 119,636.01 $118,736.22
6483809 KAO CORP JP 4452 JP 239.45 $15,928.72
6490809 KIKKOMAN CORP JP 2801 JP 532.28 $29,162.07
6490995 KEYENCE CORP JP 6861 JP 295.86 $144,534.10
6518808 LION CORP JP 4912 JP 1,135.22 $21,343.21
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 12,506.27 $24,099.60
654106103 NIKE INC CLASS B US NKE 963.48 $72,299.20
6555805 MAKITA CORP JP 6586 JP 354.85 $12,268.07
6595179 MISUMI GROUP INC JP 9962 JP 771.73 $15,466.04
6619604 NGK SPARK PLUG CO LTD JP 5334 JP 771.73 $15,616.11
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 15,572.19 $12,457.69
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 301.47 $14,214.85
6642387 YAMAHA CORP JP 7951 JP 718.35 $31,567.40
6644800 NITORI HOLDINGS CO LTD JP 9843 JP 115.4 $15,068.48
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 57,268.93 $57,661.22
66987V109 NOVARTIS AG- REG CH NVS 17,949.97 $1,569,904.75
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 241.19 $77,362.67
6742340 SHANDONG WEIGAO CN 1066 HK 19,197.85 $17,196.45
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 1,304.01 $23,355.69
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,832.88 $11,245.17
6791591 SECOM CO LTD JP 9735 JP 177.43 $14,526.15
6793821 SEKISUI CHEMICAL CO LTD JP 4204 JP 957.8 $15,062.26
680665205 OLIN CORP US OLN 2,694.19 $54,422.58
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 119,034.55 $117,903.72
6865504 SUZUKI MOTOR CORP JP 7269 JP 656.33 $32,728.79
6885074 TERUMO CORP JP 4543 JP 594.3 $32,081.55
6895200 TOHO CO LTD JP 9602 JP 470.25 $15,342.24
6897466 TOTO LTD JP 5332 JP 416.88 $14,914.25
69007J106 OUTFRONT MEDIA INC US OUT 661.7 $11,725.40
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 16,675.02 $29,852.80
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 39,094.09 $39,631.63
6948836 WESFARMERS LTD AU WES AU 461.66 $15,289.27
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 1,346.41 $33,148.91
6985383 ASTELLAS PHARMA INC JP 4503 JP 1,019.82 $15,756.46
6986427 YOKOGAWA ELECTRIC CORP JP 6841 JP 771.73 $15,152.16
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 41,575.03 $39,553.65
7088429 AXA SA FR CS FP 771.65 $19,311.79
7103065 NOVARTIS AG-REG CH NOVN SW 644 $56,396.25
7103526 PEUGEOT SA FR UG FP 176.05 $4,184.91
7110902 TECAN GROUP AG-REG CH TECN SW 47.46 $10,705.88
7123870 NESTLE SA-REGISTERED CH NESN SW 9,870.42 $833,291.84
713448108 PEPSICO INC US PEP 5,982.41 $672,302.76
7145056 ENI SPA IT ENI IM 1,847.52 $32,811.35
7156036 SONOVA HOLDING AG-REG CH SOON SW 92.25 $15,043.94
718172109 PHILIP MORRIS INTERNATIONAL US PM 1,330.02 $117,134.84
71943U104 PHYSICIANS REALTY TRUST US DOC 2,767.41 $45,883.59
7212477 ESSILORLUXOTTICA FR EL FP 208.87 $28,527.00
7262610 CREDIT AGRICOLE SA FR ACA FP 500.68 $6,412.44
729640102 PLYMOUTH INDUSTRIAL REIT INC US 873.55 $12,229.63
7309681 BNP PARIBAS FR BNP FP 438.15 $22,833.73
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 34,188.46 $34,591.88
7380062 AAREAL BANK AG DE ARL GR 584.06 $21,727.59
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 172.95 $6,515.33
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 654,225.57 $624,811.36
74340W103 PROLOGIS US PLD 1,405.13 $90,588.72
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 395,565.17 $411,585.56
74460D109 PUBLIC STORAGE INC US PSA 288.22 $59,221.50
74736K101 QORVO INC US QRVO 25,072.53 $1,843,081.69
756109104 REALTY INCOME CORP US O 201.17 $12,124.22
75886F107 REGENERON PHARMACEUTICALS INC US REGN 2,184.22 $740,974.63
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 22,215.98 $22,698.07
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,012.91 $66,558.06
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 221.71 $18,357.34
78410G104 SBA COMMUNICATIONS CORP US SBAC 4,430.6 $718,510.64
78442PGC4 SLM CORP 5.12500 04/05/2022 US 37,289.64 $37,103.19
78490DAA2 SOFI 2018-C A1FX 3.08000 01/25/2048 US 359,719.65 $358,663.69
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 588,442.13 $624,703.88
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 423,119.02 $413,745.04
806857108 SCHLUMBERGER LTD NL SLB 25,073.5 $1,286,521.14
808513105 CHARLES SCHWAB CORP/THE US SCHW 19,753.31 $913,393.11
81211K100 SEALED AIR CORP US SEE 25,651.35 $830,077.82
812578102 SEATTLE GENETICS INC US SGEN 14,493.08 $813,496.68
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 23,080.47 $22,330.36
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 92,628.67 $86,792.05
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 82,065.73 $71,502.97
81762P102 SERVICENOW INC US NOW 4,214.41 $762,976.97
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 27,711.66 $25,841.12
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 33,756.21 $33,840.60
828806109 SIMON PROPERTY GROUP INC US SPG 703.03 $129,020.97
83088M102 SKYWORKS SOLUTIONS INC US SWKS 7,538.66 $654,054.39
83402QAA0 SCLP 2016-2 A 3.09000 10/27/2025 US 143,089.28 $142,611.69
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 271,884.27 $269,725.07
83405DAB4 SOFI 2017-C A2A 1.75000 07/25/2040 US 428,707.12 $424,799.02
83714RAZ6 SOUTH CAROLINA ST STUDENT LOAN 2.46100 12/01/2023 US 28,344.55 $28,343.99
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,604.98 $99,875.08
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 31,707.51 $30,835.56
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 12,434.91 $12,459.78
852061AQ3 SPRINT COMMUNICATIONS 7.00000 03/01/2020 US 12,434.91 $12,885.68
85254J102 STAG INDUSTRIAL INC US STAG 909.54 $24,066.37
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.49950 11/15/2027 US 196,561.26 $196,587.93
862121100 STORE CAPITAL CORP US STOR 408.1 $11,847.15
866674104 SUN COMMUNITIES US SUI 485.86 $48,813.97
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,948.26 $28,191.25
874080104 TAL EDUCATION GROUP - ADR CN TAL 430.22 $12,467.78
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 22,648.22 $22,789.78
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 44,602.77 $44,448.67
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 33,756.21 $31,730.84
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 23,080.47 $20,628.17
882508104 TEXAS INSTRUMENTS INC US TXN 4,606.58 $427,629.15
883556102 THERMO FISHER SCIENTIFIC INC US TMO 284.85 $66,555.17
88650V208 TIER REIT INC US TIER 1,771.9 $38,397.06
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 208,688.48 $202,604.25
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 171,675.22 $165,312.08
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 159,965.52 $152,661.13
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 44,589.76 $44,645.50
902653104 UDR INC US UDR 1,214.57 $47,598.81
903002103 UMH PROPERTIES INC US UMH 901.96 $12,925.13
90384S303 ULTA BEAUTY INC US ULTA 294.79 $80,926.17
904767704 UNILEVER PLC - ADR GB UL 22,144.05 $1,173,191.67
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 874,683.91 $1,132,408.16
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,495,693.94 $1,800,792.14
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 623,911.56 $554,184.57
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,936,046.17 $1,631,799.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,778,183.88 $1,646,973.36
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 2,514,234.11 $2,394,022.30
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 2,453,301.52 $2,374,144.23
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 1,241,981.89 $1,236,693.77
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,497,836.24 $3,438,218.18
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 2,316,636.44 $2,184,787.26
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,599,460.45 $2,343,169.90
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 597,797.91 $575,533.58
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 2,371,659.49 $2,238,531.58
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,297,953.89 $2,169,412.09
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 533.79 $515.59
91704F104 URBAN EDGE PROPERTIES US UE 1,990.45 $40,784.33
92276F100 VENTAS INC US VTR 384.16 $22,296.38
92339V100 VEREIT INC US VER 4,342.61 $31,831.36
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 583,104.26 $607,579.02
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,659.73 $450,717.78
92826C839 VISA INC - CLASS A SHARES US V 12,307.78 $1,696,627.35
929042109 VORNADO REALTY TRUST US VNO 658.17 $44,808.26
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 34,188.46 $33,084.17
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 33,756.21 $34,431.34
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 25,317.16 $24,304.47
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 39,612.78 $37,434.08
948741103 WEINGARTEN REALTY INVESTORS US WRI 1,051.12 $29,557.55
95040Q104 WELLTOWER INC. US WELL 463.21 $30,604.15
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 42,627.51 $42,627.51
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 34,188.46 $31,923.47
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 335,119.6 $312,042.75
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 76,589.05 $76,388.97
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 90,367.3 $87,984.99
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 32,505.19 $971,255.04
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 106,757.44 $104,622.29
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 2,323.83 $21,293.17
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,281.63 $15,452.43
B02J639 ADMIRAL GROUP PLC GB ADM LN 598.7 $15,390.18
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,605.48 $21,199.31
B0386J1 JYSKE BANK-REG DK JYSK DC 479.84 $19,592.31
B058TZ6 SAFRAN SA FR SAF FP 116.19 $15,015.08
B05LZ02 HAKUHODO DY HOLDINGS INC JP 2433 JP 895.77 $14,940.26
B06JSP1 SYDBANK A/S DK SYDB DC 706.02 $16,307.13
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 68.73 $14,594.29
B09M9D2 KONE OYJ-B FI KNEBV FH 308.26 $15,004.26
B0C2CQ3 ENGIE FR ENGI FP 658.56 $8,750.39
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 884.31 $8,953.60
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 895.77 $31,866.98
B0MKZN5 TSURUHA HOLDINGS INC JP 3391 JP 177.43 $18,517.99
B11TCY0 SCHINDLER HOLDING-PART CERT CH SCHP SW 145.91 $30,766.50
B142S60 KUEHNE & NAGEL INTL AG-REG CH KNIN SW 106.89 $14,855.77
B15C557 TOTAL SA FR FP FP 923.76 $54,201.77
B19NLV4 EXPERIAN PLC GB EXPN LN 633.32 $14,565.86
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 3,712.79 $64,558.49
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,518.54 $13,190.79
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 664.33 $32,514.82
B1XH026 VINCI SA FR DG FP 1,735.43 $154,451.35
B1Y9TB3 DANONE FR BN FP 869.67 $61,583.85
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 5,943.02 $24,535.99
B1YXBJ7 AIR LIQUIDE FR AI FP 157.01 $18,980.78
B232R05 SK INNOVATION CO LTD KR 096770 KS 127.73 $23,971.39
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 594.3 $21,486.29
B283W97 CAIXABANK S.A ES CABK SM 33,897.14 $137,171.22
B296BQ5 STORAGEVAULT CANADA INC CA SVI CN 3,125.96 $6,126.31
B3FF8W8 HOSHIZAKI CORP JP 6465 JP 301.47 $24,335.09
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 45,905.7 $34,958.35
B3MSM28 AMADEUS IT HOLDING SA-A SHS ES AMS SM 188.03 $15,140.65
B3NB1P2 SUNCOR ENERGY INC CA SU CN 891.38 $29,901.03
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 771.73 $8,935.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 474,003.03 $22,179.14
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 54,446.29 $41,836.94
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 124.05 $5,613.54
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 770,254.93 $35,401.03
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 45,725.11 $34,796.96
B4R2R50 JULIUS BAER CH BAER SW 3,666.35 $167,203.09
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 895.77 $10,157.65
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 127,023.09 $32,692.56
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 100,351.99 $72,664.44
B4YVF56 BRENNTAG AG DE BNR GR 340.57 $17,785.90
B607XS1 VERMILION ENERGY INC CA VET CN 1,192.06 $31,611.42
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,114,013.88 $54,326.77
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 4,636.55 $49,905.76
B63QM77 NEXON CO LTD JP 3659 JP 2,445.42 $27,895.50
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 148,392.84 $6,658.86
B798FW0 NOVOZYMES A/S-B SHARES DK NZYMB DC 312.66 $15,440.56
B8FMRX8 COLOPLAST-B DK COLOB DC 317.13 $29,592.56
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 1,073.2 $7,679.52
BB22L96 KION GROUP AG DE KGX GR 572.09 $33,430.22
BBG00KCGVZV0 MDT US 11/16/18 P90 IE -41.1 -$5,959.73
BBG00KCQF551 QRVO US 11/16/18 C77.5 US -34.7 -$7,459.68
BBG00KFDHCW0 QRVO US 11/16/18 P67.5 US -52.84 -$7,398.29
BBG00LL833R3 MSFT US 11/16/18 P100 US -36.3 -$3,303.08
BBG00M3T9DN1 BKNG US 11/09/18 C1960 US -1.07 -$4,270.30
BBG00M420Q86 LULU US 11/09/18 P149 CA -18.68 -$15,226.28
BBG00M425WW1 MA US 11/09/18 P197.5 US -18.68 -$7,286.20
BBG00M5LJG30 GOOG US 11/23/18 C1110 US -3.2 -$7,045.99
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 594.3 $6,355.82
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 36,898.57 $16,014.15
BD82246 EAGLE BULK SHIPCO 8.25000 11/28/2022 MH 106,757.44 $109,693.27
BD9Y9B7 BASIC-FIT NV NL BFIT NA 744.61 $21,438.36
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 34,590.52 $15,566.65
BDZV116 EPIROC AB-A SE EPIA SS 3,511.06 $30,832.04
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 1,605.48 $6,544.44
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 124,047.26 $115,053.84
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 303.58 $54,935.19
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 1,552.1 $11,131.41
BG7ZWY7 AMBEV SA BR ABEV3 BZ 5,055.89 $22,063.04
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 13,074.25 $20,583.77
BGLP232 MONCLER SPA IT MONC IM 434.62 $15,093.24
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 46,476.55 $35,717.77
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 340.14 $14,689.26
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 39,329.17 $1,347,388.36
BNGN9Z1 FINECOBANK SPA IT FBK IM 12,227.07 $127,792.09
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 27,621.61 $778,502.64
BQRRZ00 RECRUIT HOLDINGS CO LTD JP 6098 JP 1,250.63 $33,566.31
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX* MM 10,037.3 $25,664.90
BYQ32R1 NEMAK SAB DE CV MX 30,271.78 $21,861.94
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 56,054.54 $22,602.75
BYXS699 QIAGEN N.V. NL QIA GR 709.05 $25,737.30
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 20,865.33 $1,543,219.70
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 525.08 $32,342.32
BZ01RF1 WILLIAM DEMANT HOLDING DK WDH DC 453.23 $14,898.29
BZ3C3Q4 BANKIA SA ES BKIA SM 26,977.96 $84,738.87
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 85,637.58 $23,035.21
G02602103 AMDOCS LTD GG DOX 2,690.58 $170,233.11
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 3,272.1 $80,755.41
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 460.37 $18,548.21
G27358103 DESPEGAR.COM CORP AR DESP 567.61 $9,121.53
G3157S106 ENSCO INTERNATIONAL INC US ESV 59,174.8 $422,508.10
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 53,303.26 $55,168.87
G5960L103 MEDTRONIC INC IE MDT 19,848.94 $1,782,831.80
G97822103 PERRIGO CO PLC IE PRGO 2,258.3 $158,758.19
H8817H100 TRANSOCEAN LTD US RIG 50,275.71 $553,535.52
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 279.84 $31,062.29
N22717107 CORE LABORATORIES N.V. NL CLB 247.46 $21,093.19
N47279109 INTERXION HOLDING NV NL INXN 11,446.15 $673,834.88
N59465109 MYLAN NV US MYL 1,331.32 $41,603.64
N72482123 QIAGEN N.V. ADR NL QGEN 2,758.58 $100,136.57
USD US DOLLAR US 1,731,101.14 $1,731,101.14

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series and Manning & Napier Fund, Inc. Pro-Blend® Extended Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series and Manning & Napier Fund, Inc. Blended Asset Extended 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 2030 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).


Loading...