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Target Income Series
Income Series
Pro-Blend® Conservative Term Series
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Target Income Series
Investment Objective
To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.
Investment Strategy
The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.
May be Appropriate for Investors
- Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
- Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
- Who prefer to take advantage of professional management through a single, diversified investment portfolio
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.
Daily Price
$10.57
Daily $ Change
$0.01
Daily % Change
0.09%
as of 11/13/2019
Ticker
MTDIX
CUSIP
56382P203
Inception Date
03/28/2008
Investment Minimum
$1,000,000.00
Investment minimum may be waived for certain qualified retirement plans.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Fact Sheet | |
| Applications & Forms |
Information on Underlying Investments
Blended Asset Series Prospectus
Blended Asset Series SAI
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 10/31/2019
YTD
11.45%
1 Year
10.47%
3 Year
5.52%
5 Year
3.68%
10 Year
5.35%
Inception
(03/28/2008)
4.99%
Market Cycle
---
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.81% |
| Net | 0.65%* |
*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.
Top Ten Investments
As of 10/31/2019
| GOVERNMENT AGENCY | 14.18% |
| TREASURY NOTES | 10.91% |
| TREASURY BONDS | 7.13% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 3.97% |
| TREASURY BILLS | 2.01% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 1.95% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.27% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.15% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.08% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.05% |
Top Ten Investments list is unaudited and excludes cash.
Asset Allocation
As of 10/31/2019
| Bonds | 72.41% |
| Stocks | 26.64% |
| Cash | 0.95% |
Detailed Asset Class Allocation
As of 10/31/2019
| International Equities | 6.87% |
| Small Capitalization | 0.53% |
| Mid Capitalization | 1.17% |
| Large Capitalization | 18.07% |
| Long Term Fixed Income | 16.67% |
| Intermediate Term Fixed Income | 42.74% |
| Short Term Fixed Income | 13.00% |
| Cash | 0.95% |
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 10/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 4,939.09 | $5,266.30 | |
| 00206R102 | AT&T INC | US | T | 1,239.71 | $47,716.47 |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 513,665.04 | $564,161.12 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 870.27 | $69,229.75 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 291.41 | $8,153.54 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 14,817.26 | $13,557.79 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 4,474.81 | $250,723.76 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 523,543.21 | $568,085.28 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 9,878.17 | $9,779.39 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 172.87 | $13,616.82 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 563,055.91 | $587,361.87 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 69.15 | $10,977.12 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 434,639.65 | $451,443.49 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 276.59 | $29,434.59 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 177.81 | $224,056.54 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 172.87 | $217,606.29 |
| 023135106 | AMAZON.COM INC | US | AMZN | 158.05 | $280,802.50 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 15,172.88 | $65,395.09 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 3,946.33 | $161,527.61 |
| 02406PAR1 | AMERICAN AXLE & MFG INC 6.25000 04/01/2025 | US | 4,939.09 | $4,760.05 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 484.03 | $24,191.85 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 1,654.59 | $43,797.11 |
| 026874784 | AMERICAN INTL GROUP INC | US | AIG | 513.67 | $27,203.70 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 19,756.35 | $19,867.12 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 642.08 | $140,025.09 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 543,299.56 | $580,805.11 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 903.85 | $36,235.46 |
| 031162100 | AMGEN INC | US | AMGN | 380.31 | $81,101.04 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 9,878.17 | $7,346.89 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 9,878.17 | $7,458.02 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 789.27 | $43,314.92 |
| 03968AAA9 | ARD SECURITIES FINANCE 8.75000 01/31/2023 | LU | 5,154.43 | $5,360.61 | |
| 03990B101 | ARES MANAGEMENT CORP - A | US | ARES | 1,180.44 | $34,905.66 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 9,878.17 | $9,927.56 | |
| 04621X108 | ASSURANT INC | US | AIZ | 177.81 | $22,416.14 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 390.19 | $84,928.29 |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 958.18 | $36,324.71 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 7,084.63 | $221,536.26 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 770,497.56 | $821,827.38 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,743.5 | $370,632.74 |
| 08576PAA9 | BERRY GLOBAL INC 4.50000 02/15/2026 | US | 4,939.09 | $4,969.96 | |
| 088606108 | BHP GROUP LTD | AU | BHP | 1,166.61 | $57,059.01 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 2,420.15 | $177,179.37 |
| 09247X101 | BLACKROCK INC | US | BLK | 242.02 | $111,738.45 |
| 0925288 | GLAXOSMITHKLINE PLC | GB | GSK LN | 928.55 | $21,268.40 |
| 09260D107 | BLACKSTONE GROUP LP | US | BX | 824.83 | $43,847.83 |
| 097023105 | BOEING CO | US | BA | 275.6 | $93,679.55 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 74.09 | $151,785.80 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 247.94 | $34,017.66 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 2,207.77 | $33,734.75 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 1,545.93 | $88,690.25 |
| 11135F101 | BROADCOM INC | US | AVGO | 220.28 | $64,509.96 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 9,878.17 | $6,519.59 | |
| 12429TAE4 | BWAY HOLDING CO 7.25000 04/15/2025 | US | 9,878.17 | $9,446.00 | |
| 124847AC8 | ENTERCOM MEDIA CORP 7.25000 11/01/2024 | US | 4,939.09 | $5,149.00 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,294.04 | $149,008.80 |
| 12527GAB9 | CF INDUSTRIES INC 7.12500 05/01/2020 | US | 4,939.09 | $5,057.78 | |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 95,439.15 | $97,522.03 | |
| 12572Q105 | CME GROUP INC | US | CME | 711.23 | $146,335.27 |
| 125896100 | CMS ENERGY CORP | US | CMS | 879.16 | $56,195.75 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 130,314.03 | $128,943.03 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 807.05 | $53,579.84 |
| 12686CBA6 | CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 | US | 4,939.09 | $5,062.56 | |
| 12770QAA3 | CZR 2017-VICI A 3.53100 10/15/2034 | US | 256,832.52 | $267,090.23 | |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 9,878.17 | $9,902.87 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 286.47 | $32,763.24 |
| 149123101 | CATERPILLAR INC | US | CAT | 354.63 | $48,867.52 |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 194,432.96 | $195,844.85 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 4,939.09 | $5,000.83 | |
| 166764100 | CHEVRON CORP | US | CVX | 1,318.74 | $153,158.02 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 888.05 | $50,165.82 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 1,837.34 | $87,292.04 |
| 172967424 | CITIGROUP INC | US | C | 2,220.61 | $159,573.28 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 266,710.69 | $438,757.29 | |
| 191216100 | COCA COLA CO/THE | US | KO | 5,274.94 | $287,115.25 |
| 192422103 | COGNEX CORP | US | CGNX | 1,491.6 | $76,802.70 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 1,230.82 | $84,434.28 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 444,517.82 | $450,659.32 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 1,145.87 | $55,482.94 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 345.74 | $19,084.63 |
| 2099084 | BORALEX INC -A | CA | BLX CN | 1,170.56 | $19,374.60 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 1,532.1 | $61,483.36 |
| 22282E102 | COVANTA HOLDING CORP | US | CVA | 2,494.24 | $36,016.81 |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 543,299.56 | $546,820.14 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 459.34 | $63,751.12 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 572,934.08 | $582,185.20 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 85,813.22 | $83,921.53 | |
| 229663109 | CUBESMART | US | CUBE | 256.83 | $8,141.59 |
| 247361702 | DELTA AIR LINES INC. | US | DAL | 330.92 | $18,227.01 |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 9,878.17 | $10,174.52 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 237.08 | $30,118.16 |
| 254687106 | WALT DISNEY CO/THE | US | DIS | 316.1 | $41,067.92 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 543,299.56 | $594,128.47 | |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 377.35 | $60,503.70 |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 14,817.26 | $15,409.95 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 642.08 | $27,814.96 |
| 260557103 | DOW INC | US | DOW | 765.56 | $38,653.05 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 3,101.75 | $72,109.54 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 3,783.34 | $77,212.20 |
| 285512109 | ELECTRONIC ARTS | US | EA | 2,281.86 | $219,971.13 |
| 291011104 | EMERSON ELEC CO | US | EMR | 541.32 | $37,973.87 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 385,248.78 | $461,413.54 | |
| 29444U700 | EQUINIX INC | US | EQIX | 607.51 | $344,323.21 |
| 29446M102 | EQUINOR ASA-SPON ADR | NO | EQNR | 1,707.94 | $31,613.90 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 355.61 | $24,871.66 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 488.97 | $43,352.05 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 1,080.67 | $27,730.05 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 107.67 | $35,222.77 |
| 30161N101 | EXELON CORP | US | EXC | 617.39 | $28,084.88 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 987,817.38 | $993,492.44 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 93.84 | $10,535.71 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 1,615.08 | $109,131.05 |
| 302491303 | FMC CORP | US | FMC | 444.52 | $40,673.38 |
| 30262DAL5 | FREMF 2011-K13 B 4.61202 01/25/2048 | US | 317,587.24 | $325,773.09 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.83237 11/25/2047 | US | 269,674.15 | $283,074.50 | |
| 30291YAJ9 | FREMF 2014-K716 B FLT 3.94755 08/25/2047 | US | 445,505.64 | $457,419.67 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 1,560.75 | $299,118.02 |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 33,879.65 | $38,971.58 | |
| 3128M7C95 | FHLM POOL G05196 5.50000 10/01/2038 | US | 32,689.78 | $36,712.10 | |
| 3128M7KW5 | FHLM POOL G05409 5.50000 03/01/2039 | US | 29,372.29 | $33,002.04 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 105,120.68 | $113,041.07 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 122,119.63 | $131,263.49 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 138,680.12 | $150,410.93 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 292,708.18 | $299,967.73 | |
| 3131YBKP2 | FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 | US | 351,331.52 | $365,324.51 | |
| 3132M45M3 | FHLM POOL Q24752 3.50000 02/01/2044 | US | 160,581.04 | $168,609.27 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 202,641.18 | $214,896.19 | |
| 3132WKQ84 | FHLM POOL Q45878 3.00000 12/01/2046 | US | 287,386.21 | $294,688.22 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 178,304.58 | $187,790.88 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 94,137.98 | $98,830.73 | |
| 31335ALP1 | FHLM POOL G60334 4.50000 10/01/2041 | US | 110,948.99 | $120,314.68 | |
| 31335CCY8 | FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 | US | 241,658.78 | $258,556.74 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 313,199.14 | $320,890.48 | |
| 3136AY6W8 | FNA 2017-M15 A1 2.95932 09/25/2027 | US | 267,096.37 | $279,873.70 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 302,345.8 | $315,632.84 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 64.21 | $8,732.95 |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 307,686.2 | $311,843.74 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 278,665.61 | $284,485.11 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 74,165.53 | $85,252.26 | |
| 3138EQST0 | FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 | US | 67,523.38 | $72,240.94 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 248,455.16 | $258,211.10 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 | US | 133,985.3 | $150,826.31 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 609,814.45 | $642,177.97 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 294,134.16 | $307,327.16 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 89,379.52 | $94,123.57 | |
| 3140FEX33 | FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 | US | 94,368.69 | $99,178.27 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 89,926.39 | $94,953.22 | |
| 3140HPMQ7 | FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 | US | 109,137.16 | $114,875.05 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 256,646.45 | $270,085.98 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 541,932.21 | $598,500.63 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 575,593.88 | $607,535.64 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 509,808.51 | $546,536.36 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 299,628.57 | $310,420.97 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 7,454.57 | $7,562.32 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 8,982.08 | $9,100.83 | |
| 31410LC75 | FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 | US | 72,188.24 | $81,091.15 | |
| 31410LD74 | FHLM POOL 890326 5.50000 01/01/2040 | US | 77,034.68 | $86,553.98 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 95,717.71 | $103,691.96 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 70,015.68 | $75,250.06 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 81,333.5 | $87,414.58 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 827,715.82 | $859,281.94 | |
| 31418C4M3 | FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 | US | 447,536.34 | $478,011.74 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 286,472.84 | $294,025.83 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 413,957.17 | $428,988.26 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 272,901.02 | $284,945.22 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 251,024.04 | $260,368.92 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 579,374.21 | $594,381.80 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 37,896.05 | $42,562.74 | |
| 31419AU62 | FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 | US | 43,854.51 | $50,463.46 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 4,939.09 | $5,272.48 | |
| 31620R303 | FNF GROUP | US | FNF | 459.34 | $21,055.92 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 424.76 | $17,886.71 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 9,878.17 | $9,336.55 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 4,939.09 | $5,309.52 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 9,878.17 | $9,976.96 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 9,878.17 | $9,928.55 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 29,634.52 | $30,708.77 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 93,842.65 | $93,875.45 | |
| 363576109 | ARTHUR J GALLAGHER & CO | US | AJG | 464.27 | $42,351.09 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 493,908.69 | $476,004.50 | |
| 37045XAR7 | GENERAL MOTORS FINL CO 3.15000 01/15/2020 | US | 553,177.74 | $553,925.61 | |
| 372460105 | GENUINE PARTS CO | US | GPC | 538.36 | $55,225.02 |
| 374297109 | GETTY REALTY CORP | US | GTY | 498.85 | $16,731.35 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 851.5 | $54,248.97 |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 9,878.17 | $10,109.82 | |
| 38141G104 | GOLDMAN SACHS | US | GS | 88.9 | $18,970.24 |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 256,832.52 | $276,647.38 | |
| 38378HVC7 | GNR 2012-113 PY 2.50000 09/20/2042 | US | 246,954.35 | $246,681.91 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 314,137.15 | $316,767.55 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 3,704.32 | $58,009.58 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 434,639.65 | $460,459.42 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 4,939.09 | $4,500.74 | |
| 40414L109 | HCP INC | US | HCP | 1,160.69 | $43,664.99 |
| 406216101 | HALLIBURTON CO | US | HAL | 9,226.21 | $177,604.63 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 1,378.01 | $47,913.24 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,017.45 | $31,541.01 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 128.42 | $12,451.24 |
| 437076102 | HOME DEPOT INC | US | HD | 498.85 | $117,019.71 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 1,433.32 | $38,656.72 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 393.15 | $67,909.03 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 943.37 | $15,461.76 |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 14,817.26 | $15,872.99 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 221.27 | $37,301.88 |
| 45337C102 | INCYTE CORP | US | INCY | 1,205.14 | $101,135.11 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 3,289.43 | $50,657.25 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 9,878.17 | $10,067.04 | |
| 458140100 | INTEL CORP | US | INTC | 3,959.17 | $223,812.00 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 1,639.78 | $154,663.75 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 519.59 | $69,485.03 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.73913 12/17/2036 | US | 74,199.13 | $74,094.83 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 3.03913 12/17/2036 | US | 59,269.04 | $59,324.65 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 1,834.38 | $56,480.46 |
| 464287598 | ISHARES RUSSELL 1000 VALUE | US | 1,343.43 | $174,740.15 | |
| 466032109 | J&J SNACK FOODS CORP | US | JJSF | 251.89 | $48,051.19 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 2,225.55 | $278,016.03 |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 73,806.73 | $75,247.44 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 92,975.56 | $94,433.86 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 375,370.61 | $400,819.90 | |
| 46647SAE0 | JPMMT 2017-3 1A3 3.50000 08/25/2047 | US | 268,685.28 | $273,258.30 | |
| 46648HAE3 | JPMMT 2017-2 A5 3.50000 05/25/2047 | US | 269,959.69 | $273,517.22 | |
| 46648HAF0 | JPMMT 2017-2 A6 3.00000 05/25/2047 | US | 289,956.71 | $291,515.82 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 2,528.81 | $301,602.72 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 1,783.01 | $33,859.37 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 5,018.11 | $662,591.55 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 14,817.26 | $4,148.83 | |
| 485170302 | KANSAS CITY SOUTHERN | US | KSU | 414.88 | $58,407.27 |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 9,878.17 | $10,131.30 | |
| 493267108 | KEYCORP | US | KEY | 1,121.17 | $20,147.47 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 113.6 | $9,534.36 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 252.88 | $33,602.86 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 454,396 | $587,407.93 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 553,177.74 | $553,555.20 | |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 14,817.26 | $15,335.86 | |
| 529043101 | LEXINGTON REALTY TRUST | US | LXP | 1,101.42 | $11,983.41 |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 449.46 | $26,549.42 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 123.48 | $13,449.13 |
| 534187109 | LINCOLN NATL CORP IND | US | LNC | 296.35 | $16,737.58 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 157.06 | $59,162.48 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 9,878.17 | $6,914.72 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 1,501.48 | $306,707.81 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 656.9 | $42,008.66 |
| 5671735 | SANOFI-AVENTIS | FR | SAN FP | 360.55 | $33,238.38 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 1,733.62 | $479,883.22 |
| 580135101 | MCDONALDS CORP | US | MCD | 93.84 | $18,458.85 |
| 58933Y105 | MERCK & CO INC | US | MRK | 2,351.99 | $203,823.73 |
| 594918104 | MICROSOFT CORP | US | MSFT | 3,571.95 | $512,110.14 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 9,443.53 | $449,040.05 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 138.29 | $19,221.54 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 7,420.48 | $389,204.40 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 671.72 | $148,240.96 |
| 617446448 | MORGAN STANLEY | US | MS | 222.26 | $10,235.02 |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 4,939.09 | $3,815.44 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 14,817.26 | $14,372.74 | |
| 62957HAC9 | NABORS INDUSTRIES INC 5.50000 01/15/2023 | US | 9,878.17 | $8,347.06 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 484.03 | $28,514.24 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 469.21 | $16,033.02 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 9,878.17 | $10,060.43 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 226,589.34 | $228,809.52 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.82275 02/27/2068 | US | 543,299.56 | $548,019.20 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 78,319.96 | $81,471.02 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 88,724.52 | $92,499.68 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 118,618.06 | $123,720.35 | |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 14,817.26 | $7,408.63 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 5,166.28 | $451,739.95 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 9,878.17 | $10,235.57 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 829.77 | $166,799.68 |
| 67103H107 | O'REILLY AUTOMOTIVE INC | US | ORLY | 75.07 | $32,695.53 |
| 674599105 | OCCIDENTAL PETROLEUM CORP | US | OXY | 997.7 | $40,406.67 |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 9,878.17 | $10,256.21 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 444.52 | $19,576.56 |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 172.87 | $25,359.74 |
| 70338P100 | PATTERN ENERGY GROUP INC -A | US | PEGI | 779.39 | $21,846.24 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 2,736.25 | $292,728.14 |
| 713448108 | PEPSICO INC | US | PEP | 2,533.75 | $347,554.71 |
| 71654V101 | PETROLEO BRASIL-SP PREF ADR | BR | PBR/A | 3,023.71 | $45,627.77 |
| 717081103 | PFIZER INC | US | PFE | 3,681.6 | $141,262.82 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 9,878.17 | $8,694.08 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 2,731.32 | $50,993.65 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 1,432.34 | $27,013.84 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 780,375.73 | $844,879.61 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 4,939.09 | $5,061.08 | |
| 74251V102 | PRINCIPAL FINANCIAL GROUP | US | PFG | 330.92 | $17,664.45 |
| 742718109 | PROCTER & GAMBLE CO | US | PG | 469.21 | $58,421.74 |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 148,172.61 | $148,910.56 | |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 276,588.87 | $281,389.34 | |
| 74340W103 | PROLOGIS | US | PLD | 1,042.15 | $91,458.85 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 172.87 | $38,525.37 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 726.05 | $52,587.50 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 14,817.26 | $15,372.91 | |
| 756109104 | REALTY INCOME CORP | US | O | 138.29 | $11,311.10 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,145.87 | $18,448.48 |
| 760759100 | REPUBLIC SERVICES INC | US | RSG | 518.6 | $45,383.05 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 891.01 | $46,341.50 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 9,878.17 | $10,044.10 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 207.44 | $12,091.77 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 592.69 | $152,908.20 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 582.81 | $140,253.77 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 14,817.26 | $15,298.82 | |
| 78470NAB2 | SOFI 2015-D A2 2.72000 10/27/2036 | US | 70,790.55 | $71,435.78 | |
| 78470RAC1 | SOFI 2016-E A2B 2.49000 01/25/2036 | US | 205,820.19 | $206,619.45 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 642,081.3 | $737,270.89 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 513,665.04 | $553,524.70 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 3,358.58 | $109,791.95 |
| 808524797 | SCHWAB US DVD EQUITY ETF | US | 2,268.03 | $125,920.95 | |
| 81141R100 | SEA LTD - ADR | SG | SE | 8,732.31 | $259,873.42 |
| 81211K100 | SEALED AIR CORP | US | SEE | 1,037.21 | $43,324.19 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 1,205.14 | $129,431.74 |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 107,199.53 | $108,409.71 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,244.65 | $307,752.14 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 9,878.17 | $8,297.67 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 419.82 | $63,258.84 |
| 831641FC4 | SBIC 2015-10A 1 2.51700 03/10/2025 | US | 77,601.31 | $78,907.69 | |
| 83401BAA4 | SOFI 2017-F A1FX 2.05000 01/25/2041 | US | 24,376.98 | $24,375.19 | |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 74,086.3 | $75,186.44 | |
| 83402JAC2 | SOFI 2016-B A2B 2.74000 10/25/2032 | US | 56,260.59 | $56,630.98 | |
| 83404YAA1 | SCLP 2016-5 A 3.06000 09/25/2028 | US | 78,171.74 | $78,572.61 | |
| 83405TAA1 | SCLP 2019-3 A MTGE 2.90000 05/25/2028 | US | 222,339.92 | $223,922.09 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 177,846.8 | $179,239.18 | |
| 83406EAB1 | SOFI 2018-A A2A 2.39000 02/25/2042 | US | 63,564.73 | $63,687.27 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 4,840.31 | $294,435.76 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 572,934.08 | $580,002.17 | |
| 845467AL3 | SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 | US | 9,878.17 | $8,692.79 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 14,817.26 | $15,264.30 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 4,939.09 | $5,270.30 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 4,939.09 | $5,358.91 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 1,333.55 | $41,393.50 |
| 855030AN2 | STAPLES INC 7.50000 04/15/2026 | US | 9,878.17 | $10,275.28 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.13350 11/15/2027 | US | 249,529.94 | $249,081.01 | |
| 858912AF5 | STERICYCLE INC 5.37500 07/15/2024 | US | 14,817.26 | $15,409.95 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 405.01 | $16,402.71 |
| 866674104 | SUN COMMUNITIES | US | SUI | 251.89 | $40,970.47 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 4,939.09 | $4,198.22 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 785.31 | $10,609.60 |
| 86935CAA0 | SCML 2019-SBC8 2.86000 12/25/2035 | US | 254,886.07 | $256,338.79 | |
| 87612E106 | TARGET CORP | US | TGT | 360.55 | $38,546.76 |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 9,878.17 | $8,347.06 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 405,005.13 | $435,874.45 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 554.17 | $65,385.99 |
| 88579Y101 | 3M CO | US | MMM | 393.15 | $64,866.04 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 1,003.62 | $52,820.65 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 178,937.96 | $179,622.24 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 166,061.48 | $168,026.35 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.82275 10/25/2048 | US | 157,173.13 | $158,012.76 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 4,939.09 | $4,889.70 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 212,444.86 | $212,399.90 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 197,004.59 | $199,958.74 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 14,817.26 | $14,778.00 | |
| 902653104 | UDR INC | US | UDR | 672.7 | $33,803.36 |
| 902973304 | U.S. BANCORP | US | USB | 992.76 | $56,606.97 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 607.51 | $9,070.09 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 5,514 | $331,446.34 |
| 907818108 | UNION PAC CORP | US | UNP | 405.01 | $67,012.15 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,024.37 | $117,976.30 |
| 912796SR1 | TREASURY BILL 0.00000 05/21/2020 | US | 1,580,507.82 | $1,566,894.80 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 372,812.44 | $391,746.54 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 647,020.39 | $757,620.43 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 1,516,299.69 | $1,539,991.87 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 1,507,285.85 | $1,527,101.49 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 3,116,016.51 | $3,099,340.96 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 2,331,249.03 | $2,334,982.66 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 4,647,680.79 | $4,813,254.43 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 2,237,406.38 | $2,331,796.96 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 2,252,223.64 | $2,318,118.77 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 537.37 | $77,155.97 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,101.42 | $23,250.90 |
| 918204108 | VF CORP | US | VFC | 353.64 | $29,100.92 |
| 91913Y100 | VALERO ENERGY | US | VLO | 374.38 | $36,307.64 |
| 92276F100 | VENTAS INC | US | VTR | 493.91 | $32,153.46 |
| 92339V100 | VEREIT INC | US | VER | 2,988.15 | $29,403.37 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 1,190.32 | $71,978.65 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 711,228.52 | $895,847.92 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 513.67 | $100,411.24 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 2,420.15 | $432,868.49 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 9,878.17 | $9,606.52 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 172.87 | $11,345.33 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 4,939.09 | $4,630.39 | |
| 92935JBC8 | WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 | US | 332,053.83 | $339,861.57 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.97125 12/15/2033 | US | 172,868.04 | $172,975.24 | |
| 931142103 | WAL MART STORES | US | WMT | 1,173.53 | $137,607.78 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 691.47 | $37,878.85 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 802.11 | $90,004.51 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 14,817.26 | $15,039.52 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 716.17 | $22,724.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 3,255.85 | $168,099.33 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 452.42 | $41,030.00 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 395,126.95 | $411,976.95 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 67,422.61 | $67,575.68 | |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 14,817.26 | $13,928.23 | |
| B29TNV3 | INNERGEX RENEWABLE ENERGY | CA | INE CN | 1,950.94 | $24,351.57 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 271,649.78 | $14,090.09 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 32,597.97 | $25,526.70 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 497,859.96 | $25,850.73 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 724,070.14 | $37,908.06 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 25,485.69 | $295,334.43 |
| B68XHC3 | NORTHLAND POWER INC | CA | NPI CN | 1,180.44 | $23,571.19 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 90,879.2 | $5,052.32 | |
| BBG00P131QW2 | SE US 11/15/19 C27 | SG | -40.5 | -$12,555.16 | |
| BBG00QG82MR7 | NOW US 11/08/19 P200 | US | -4.94 | -$197.56 | |
| BBG00QH0RKM5 | EA US 11/01/19 P87.5 | US | -8.89 | -$17.78 | |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 8,692.79 | $13,534.31 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 6,954.23 | $282,084.04 |
| BMTRW10 | B&M EUROPEAN VALUE RETAIL SA | GB | BME LN | 5,324.34 | $25,542.97 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 7,942.05 | $247,480.78 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 3,170.89 | $255,946.40 |
| G29183103 | EATON CORP PLC | US | ETN | 369.44 | $32,182.24 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,427.4 | $61,849.07 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 5,769.84 | $628,335.72 |
| H01301128 | ALCON INC | CH | ALC | 2,370.76 | $140,515.05 |
| H1467J104 | CHUBB LTD | CH | CB | 214.36 | $32,672.20 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 12,456.38 | $59,167.79 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 3,348.7 | $295,422.40 |
| USD | US DOLLAR | US | 746,889.25 | $746,889.25 |
Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Conservative Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Conservative Series beginning 10/16/2017. Investments will change over time. Fund holdings list does not include securities with positions less than 0.005 shares.
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
$10.57
Daily $ Change
$0.01
Daily % Change
0.09%
as of 11/13/2019
Ticker
MTDIX
CUSIP
56382P203
Inception Date
03/28/2008
Investment Minimum
$1,000,000.00
Investment minimum may be waived for certain qualified retirement plans.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Fact Sheet | |
| Applications & Forms |
Information on Underlying Investments
Blended Asset Series Prospectus
Blended Asset Series SAI
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 preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.
Investment Strategy
The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.
May be Appropriate for Investors
- Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
- Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
- Who prefer to take advantage of professional management through a single, diversified investment portfolio
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.
Performance
As of 10/31/2019
YTD
11.45%
1 Year
10.47%
3 Year
5.52%
5 Year
3.68%
10 Year
5.35%
Inception
(03/28/2008)
4.99%
Market Cycle
---
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.81% |
| Net | 0.65%* |
*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund's Board of Directors.
Top Ten Investments
As of 10/31/2019
| GOVERNMENT AGENCY | 14.18% |
| TREASURY NOTES | 10.91% |
| TREASURY BONDS | 7.13% |
| UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | 3.97% |
| TREASURY BILLS | 2.01% |
| TSY INFL IX N/B 0.50000 04/15/2024 | 1.95% |
| EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | 1.27% |
| VERIZON COMMUNICATIONS 5.25000 03/16/2037 | 1.15% |
| BOOKING HOLDINGS INC 3.60000 06/01/2026 | 1.08% |
| BANK OF AMERICA CORP 4.00000 01/22/2025 | 1.05% |
Top Ten Investments list is unaudited and excludes cash.
Asset Allocation
As of 10/31/2019
| Bonds | 72.41% | |
| Stocks | 26.64% | |
| Cash | 0.95% |
Detailed Asset Class Allocation
As of 10/31/2019
| International Equities | 6.87% | |
| Small Capitalization | 0.53% | |
| Mid Capitalization | 1.17% | |
| Large Capitalization | 18.07% | |
| Long Term Fixed Income | 16.67% | |
| Intermediate Term Fixed Income | 42.74% | |
| Short Term Fixed Income | 13.00% | |
| Cash | 0.95% |
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 10/31/2019
| CUSIP | Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|---|
| 00101JAK2 | ADT SEC CORP 6.25000 10/15/2021 | US | 4,939.09 | $5,266.30 | |
| 00206R102 | AT&T INC | US | T | 1,239.71 | $47,716.47 |
| 00206RDQ2 | AT&T INC 4.25000 03/01/2027 | US | 513,665.04 | $564,161.12 | |
| 00287Y109 | ABBVIE INC | US | ABBV | 870.27 | $69,229.75 |
| 004239109 | ACADIA REALTY TRUST | US | AKR | 291.41 | $8,153.54 |
| 00489LAA1 | ACRISURE LLC / FIN INC 7.00000 11/15/2025 | US | 14,817.26 | $13,557.79 | |
| 00507V109 | ACTIVISION INC | US | ATVI | 4,474.81 | $250,723.76 |
| 00774MAG0 | AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 | IE | 523,543.21 | $568,085.28 | |
| 00791GAA5 | AG MERGER SUB II INC 10.75000 08/01/2027 | US | 9,878.17 | $9,779.39 | |
| 008492100 | AGREE REALTY CORP | US | ADC | 172.87 | $13,616.82 |
| 00912XAV6 | AIR LEASE CORP 3.62500 04/01/2027 | US | 563,055.91 | $587,361.87 | |
| 015271109 | ALEXANDRIA REAL EST EQUITIES | US | ARE | 69.15 | $10,977.12 |
| 01609WAT9 | ALIBABA GROUP HOLDING 3.40000 12/06/2027 | KY | 434,639.65 | $451,443.49 | |
| 020002101 | ALLSTATE CORPORATION | US | ALL | 276.59 | $29,434.59 |
| 02079K107 | ALPHABET INC-CL C | US | GOOG | 177.81 | $224,056.54 |
| 02079K305 | ALPHABET INC-CL A | US | GOOGL | 172.87 | $217,606.29 |
| 023135106 | AMAZON.COM INC | US | AMZN | 158.05 | $280,802.50 |
| 02319V103 | AMBEV SA-ADR | BR | ABEV | 15,172.88 | $65,395.09 |
| 0237400 | DIAGEO PLC | GB | DGE LN | 3,946.33 | $161,527.61 |
| 02406PAR1 | AMERICAN AXLE & MFG INC 6.25000 04/01/2025 | US | 4,939.09 | $4,760.05 | |
| 024835100 | AMERICAN CAMPUS COMMUNITIES | US | ACC | 484.03 | $24,191.85 |
| 02665T306 | AMERICAN HOMES 4 RENT- A | US | AMH | 1,654.59 | $43,797.11 |
| 026874784 | AMERICAN INTL GROUP INC | US | AIG | 513.67 | $27,203.70 |
| 03019LAA4 | AMERICAN TANKER INC 9.25000 02/22/2022 | US | 19,756.35 | $19,867.12 | |
| 03027X100 | AMERICAN TOWER REIT INC | US | AMT | 642.08 | $140,025.09 |
| 03027XAW0 | AMERICAN TOWER CORP 3.80000 08/15/2029 | US | 543,299.56 | $580,805.11 | |
| 03064D108 | AMERICOLD REALTY TRUST | US | COLD | 903.85 | $36,235.46 |
| 031162100 | AMGEN INC | US | AMGN | 380.31 | $81,101.04 |
| 03690AAD8 | ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 | US | 9,878.17 | $7,346.89 | |
| 03690AAF3 | ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 | US | 9,878.17 | $7,458.02 | |
| 03748R754 | APARTMENT INVT & MGMT CO -A | US | AIV | 789.27 | $43,314.92 |
| 03968AAA9 | ARD SECURITIES FINANCE 8.75000 01/31/2023 | LU | 5,154.43 | $5,360.61 | |
| 03990B101 | ARES MANAGEMENT CORP - A | US | ARES | 1,180.44 | $34,905.66 |
| 045086AF2 | ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 | US | 9,878.17 | $9,927.56 | |
| 04621X108 | ASSURANT INC | US | AIZ | 177.81 | $22,416.14 |
| 053484101 | AVALONBAY COMMUNITIES INC | US | AVB | 390.19 | $84,928.29 |
| 055622104 | BP PLC-SPONS ADR | GB | BP | 958.18 | $36,324.71 |
| 060505104 | BANK OF AMERICA CORP | US | BAC | 7,084.63 | $221,536.26 |
| 06051GFM6 | BANK OF AMERICA CORP 4.00000 01/22/2025 | US | 770,497.56 | $821,827.38 | |
| 084670702 | BERKSHIRE HATHAWAY INC-CL B | US | BRK/B | 1,743.5 | $370,632.74 |
| 08576PAA9 | BERRY GLOBAL INC 4.50000 02/15/2026 | US | 4,939.09 | $4,969.96 | |
| 088606108 | BHP GROUP LTD | AU | BHP | 1,166.61 | $57,059.01 |
| 09061G101 | BIOMARIN PHARMACEUTICAL INC | US | BMRN | 2,420.15 | $177,179.37 |
| 09247X101 | BLACKROCK INC | US | BLK | 242.02 | $111,738.45 |
| 0925288 | GLAXOSMITHKLINE PLC | GB | GSK LN | 928.55 | $21,268.40 |
| 09260D107 | BLACKSTONE GROUP LP | US | BX | 824.83 | $43,847.83 |
| 097023105 | BOEING CO | US | BA | 275.6 | $93,679.55 |
| 09857L108 | BOOKING HOLDINGS INC | US | BKNG | 74.09 | $151,785.80 |
| 101121101 | BOSTON PROPERTIES INC | US | BXP | 247.94 | $34,017.66 |
| 105368203 | BRANDYWINE REALTY TRUST | US | BDN | 2,207.77 | $33,734.75 |
| 110122108 | BRISTOL MYERS SQUIBB CO | US | BMY | 1,545.93 | $88,690.25 |
| 11135F101 | BROADCOM INC | US | AVGO | 220.28 | $64,509.96 |
| 11680JAA0 | BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 | US | 9,878.17 | $6,519.59 | |
| 12429TAE4 | BWAY HOLDING CO 7.25000 04/15/2025 | US | 9,878.17 | $9,446.00 | |
| 124847AC8 | ENTERCOM MEDIA CORP 7.25000 11/01/2024 | US | 4,939.09 | $5,149.00 | |
| 12503M108 | CBOE GLOBAL MARKETS INC | US | CBOE | 1,294.04 | $149,008.80 |
| 12527GAB9 | CF INDUSTRIES INC 7.12500 05/01/2020 | US | 4,939.09 | $5,057.78 | |
| 12555DAA3 | CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 95,439.15 | $97,522.03 | |
| 12572Q105 | CME GROUP INC | US | CME | 711.23 | $146,335.27 |
| 125896100 | CMS ENERGY CORP | US | CMS | 879.16 | $56,195.75 |
| 12646XAH5 | CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 130,314.03 | $128,943.03 | |
| 126650100 | CVS HEALTH CORP | US | CVS | 807.05 | $53,579.84 |
| 12686CBA6 | CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 | US | 4,939.09 | $5,062.56 | |
| 12770QAA3 | CZR 2017-VICI A 3.53100 10/15/2034 | US | 256,832.52 | $267,090.23 | |
| 131477AT8 | CALUMET SPECIALTY PROD 11.00000 04/15/2025 | US | 9,878.17 | $9,902.87 | |
| 133131102 | CAMDEN PROPERTY TRUST | US | CPT | 286.47 | $32,763.24 |
| 149123101 | CATERPILLAR INC | US | CAT | 354.63 | $48,867.52 |
| 14980AAA0 | CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 | US | 194,432.96 | $195,844.85 | |
| 156700AW6 | CENTURYLINK INC 5.62500 04/01/2020 | US | 4,939.09 | $5,000.83 | |
| 166764100 | CHEVRON CORP | US | CVX | 1,318.74 | $153,158.02 |
| 16941R108 | CHINA PETROLEUM & CHEM-ADR | CN | SNP | 888.05 | $50,165.82 |
| 17275R102 | CISCO SYSTEMS INC | US | CSCO | 1,837.34 | $87,292.04 |
| 172967424 | CITIGROUP INC | US | C | 2,220.61 | $159,573.28 |
| 172967EW7 | CITIGROUP INC 8.12500 07/15/2039 | US | 266,710.69 | $438,757.29 | |
| 191216100 | COCA COLA CO/THE | US | KO | 5,274.94 | $287,115.25 |
| 192422103 | COGNEX CORP | US | CGNX | 1,491.6 | $76,802.70 |
| 194162103 | COLGATE-PALMOLIVE CO | US | CL | 1,230.82 | $84,434.28 |
| 20030NCY5 | COMCAST CORP 3.25000 11/01/2039 | US | 444,517.82 | $450,659.32 | |
| 20369C106 | COMMUNITY HEALTHCARE TRUST I | US | CHCT | 1,145.87 | $55,482.94 |
| 20825C104 | CONOCOPHILLIPS | US | COP | 345.74 | $19,084.63 |
| 2099084 | BORALEX INC -A | CA | BLX CN | 1,170.56 | $19,374.60 |
| 222795502 | COUSINS PROPERTIES INC | US | CUZ | 1,532.1 | $61,483.36 |
| 22282E102 | COVANTA HOLDING CORP | US | CVA | 2,494.24 | $36,016.81 |
| 22546QAD9 | CREDIT SUISSE AG 5.40000 01/14/2020 | CH | 543,299.56 | $546,820.14 | |
| 22822V101 | CROWN CASTLE INTL CORP | US | CCI | 459.34 | $63,751.12 |
| 22822VAN1 | CROWN CASTLE INTL CORP 3.10000 11/15/2029 | US | 572,934.08 | $582,185.20 | |
| 22944PAA5 | CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 85,813.22 | $83,921.53 | |
| 229663109 | CUBESMART | US | CUBE | 256.83 | $8,141.59 |
| 247361702 | DELTA AIR LINES INC. | US | DAL | 330.92 | $18,227.01 |
| 25277LAC0 | DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 | US | 9,878.17 | $10,174.52 | |
| 253868103 | DIGITAL REALTY TRUST INC | US | DLR | 237.08 | $30,118.16 |
| 254687106 | WALT DISNEY CO/THE | US | DIS | 316.1 | $41,067.92 |
| 25470DAT6 | DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 | US | 543,299.56 | $594,128.47 | |
| 256677105 | DOLLAR GENERAL CORP | US | DG | 377.35 | $60,503.70 |
| 25787GAC4 | DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 | US | 14,817.26 | $15,409.95 | |
| 25960P109 | DOUGLAS EMMETT INC | US | DEI | 642.08 | $27,814.96 |
| 260557103 | DOW INC | US | DOW | 765.56 | $38,653.05 |
| 2715777 | QUEBECOR INC -CL B | CA | QBR/B CN | 3,101.75 | $72,109.54 |
| 2801836 | SHAW COMMUNICATIONS INC-B | CA | SJR/B CN | 3,783.34 | $77,212.20 |
| 285512109 | ELECTRONIC ARTS | US | EA | 2,281.86 | $219,971.13 |
| 291011104 | EMERSON ELEC CO | US | EMR | 541.32 | $37,973.87 |
| 29273RAR0 | ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 385,248.78 | $461,413.54 | |
| 29444U700 | EQUINIX INC | US | EQIX | 607.51 | $344,323.21 |
| 29446M102 | EQUINOR ASA-SPON ADR | NO | EQNR | 1,707.94 | $31,613.90 |
| 29472R108 | EQUITY LIFESTYLE PROPERTIES | US | ELS | 355.61 | $24,871.66 |
| 29476L107 | EQUITY RESIDENTIAL | US | EQR | 488.97 | $43,352.05 |
| 29670E107 | ESSENTIAL PROPERTIES REALTY | US | EPRT | 1,080.67 | $27,730.05 |
| 297178105 | ESSEX PROPERTY TRUST INC | US | ESS | 107.67 | $35,222.77 |
| 30161N101 | EXELON CORP | US | EXC | 617.39 | $28,084.88 |
| 302154BV0 | EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 | KR | 987,817.38 | $993,492.44 | |
| 30225T102 | EXTRA SPACE STORAGE INC | US | EXR | 93.84 | $10,535.71 |
| 30231G102 | EXXON MOBIL CORP | US | XOM | 1,615.08 | $109,131.05 |
| 302491303 | FMC CORP | US | FMC | 444.52 | $40,673.38 |
| 30262DAL5 | FREMF 2011-K13 B 4.61202 01/25/2048 | US | 317,587.24 | $325,773.09 | |
| 30287EAE0 | FREMF 2014-K41 B FLT 3.83237 11/25/2047 | US | 269,674.15 | $283,074.50 | |
| 30291YAJ9 | FREMF 2014-K716 B FLT 3.94755 08/25/2047 | US | 445,505.64 | $457,419.67 | |
| 30303M102 | FACEBOOK INC -A | US | FB | 1,560.75 | $299,118.02 |
| 3128M5VT4 | FHLM POOL G03926 6.00000 02/01/2038 | US | 33,879.65 | $38,971.58 | |
| 3128M7C95 | FHLM POOL G05196 5.50000 10/01/2038 | US | 32,689.78 | $36,712.10 | |
| 3128M7KW5 | FHLM POOL G05409 5.50000 03/01/2039 | US | 29,372.29 | $33,002.04 | |
| 3128P75X7 | FHLM POOL C91762 4.50000 05/01/2034 | US | 105,120.68 | $113,041.07 | |
| 312941F69 | FHLM POOL A92889 4.50000 07/01/2040 | US | 122,119.63 | $131,263.49 | |
| 312941ZQ3 | FHLM POOL Q93451 4.50000 08/01/2040 | US | 138,680.12 | $150,410.93 | |
| 3131XVYW9 | FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 | US | 292,708.18 | $299,967.73 | |
| 3131YBKP2 | FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 | US | 351,331.52 | $365,324.51 | |
| 3132M45M3 | FHLM POOL Q24752 3.50000 02/01/2044 | US | 160,581.04 | $168,609.27 | |
| 3132QUNJ8 | FHLM POOL Q37592 4.00000 12/01/2045 | US | 202,641.18 | $214,896.19 | |
| 3132WKQ84 | FHLM POOL Q45878 3.00000 12/01/2046 | US | 287,386.21 | $294,688.22 | |
| 3132Y33P7 | FHLM POOL FG Q59805 4.50000 11/01/2048 | US | 178,304.58 | $187,790.88 | |
| 31335AFY9 | FHLM POOL G60183 4.00000 12/01/2044 | US | 94,137.98 | $98,830.73 | |
| 31335ALP1 | FHLM POOL G60334 4.50000 10/01/2041 | US | 110,948.99 | $120,314.68 | |
| 31335CCY8 | FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 | US | 241,658.78 | $258,556.74 | |
| 3133G6L60 | FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 | US | 313,199.14 | $320,890.48 | |
| 3136AY6W8 | FNA 2017-M15 A1 2.95932 09/25/2027 | US | 267,096.37 | $279,873.70 | |
| 3136B1YD0 | FNR 2018-31 KP 3.50000 07/25/2047 | US | 302,345.8 | $315,632.84 | |
| 313747206 | FEDERAL RLTY INVT TR SH BEN INT | US | FRT | 64.21 | $8,732.95 |
| 3137F4YU0 | FHR 4791 BA MTGE 4.00000 03/15/2044 | US | 307,686.2 | $311,843.74 | |
| 3137FG2L8 | FHR 4801 BA MTGE 4.50000 05/15/2044 | US | 278,665.61 | $284,485.11 | |
| 3138EGE26 | FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 | US | 74,165.53 | $85,252.26 | |
| 3138EQST0 | FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 | US | 67,523.38 | $72,240.94 | |
| 3138ERN30 | FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 | US | 248,455.16 | $258,211.10 | |
| 3138ETT89 | FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 | US | 133,985.3 | $150,826.31 | |
| 3138WDAY7 | FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 | US | 609,814.45 | $642,177.97 | |
| 3138YTGK4 | FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 | US | 294,134.16 | $307,327.16 | |
| 3140E2GZ8 | FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 | US | 89,379.52 | $94,123.57 | |
| 3140FEX33 | FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 | US | 94,368.69 | $99,178.27 | |
| 3140FTWF4 | FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 | US | 89,926.39 | $94,953.22 | |
| 3140HPMQ7 | FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 | US | 109,137.16 | $114,875.05 | |
| 3140JGVQ5 | FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 | US | 256,646.45 | $270,085.98 | |
| 3140Q84E2 | FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 | US | 541,932.21 | $598,500.63 | |
| 3140Q9JA2 | FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 | US | 575,593.88 | $607,535.64 | |
| 3140Q9PD9 | FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 | US | 509,808.51 | $546,536.36 | |
| 3140X4JC1 | FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 | US | 299,628.57 | $310,420.97 | |
| 31410GCD3 | FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 | US | 7,454.57 | $7,562.32 | |
| 31410GN33 | FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 | US | 8,982.08 | $9,100.83 | |
| 31410LC75 | FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 | US | 72,188.24 | $81,091.15 | |
| 31410LD74 | FHLM POOL 890326 5.50000 01/01/2040 | US | 77,034.68 | $86,553.98 | |
| 31417YJC2 | FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 | US | 95,717.71 | $103,691.96 | |
| 31418BBC9 | FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 | US | 70,015.68 | $75,250.06 | |
| 31418BDH6 | FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 81,333.5 | $87,414.58 | |
| 31418C4F8 | FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 | US | 827,715.82 | $859,281.94 | |
| 31418C4M3 | FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 | US | 447,536.34 | $478,011.74 | |
| 31418CAF1 | FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 | US | 286,472.84 | $294,025.83 | |
| 31418CYJ7 | FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 413,957.17 | $428,988.26 | |
| 31418CZ56 | FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 | US | 272,901.02 | $284,945.22 | |
| 31418CZH0 | FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 | US | 251,024.04 | $260,368.92 | |
| 31418DC67 | FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 | US | 579,374.21 | $594,381.80 | |
| 31418MKV3 | FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 | US | 37,896.05 | $42,562.74 | |
| 31419AU62 | FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 | US | 43,854.51 | $50,463.46 | |
| 315786AC7 | FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 | US | 4,939.09 | $5,272.48 | |
| 31620R303 | FNF GROUP | US | FNF | 459.34 | $21,055.92 |
| 32054K103 | FIRST INDUSTRIAL REALTY TR | US | FR | 424.76 | $17,886.71 |
| 33834YAA6 | FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 | US | 9,878.17 | $9,336.55 | |
| 346232AD3 | FORESTAR GROUP INC 8.00000 04/15/2024 | US | 4,939.09 | $5,309.52 | |
| 34960PAB7 | FORTRESS TRANS & INFRAST 6.50000 10/01/2025 | US | 9,878.17 | $9,976.96 | |
| 35166FAA0 | FOXTROT ESCROW ISSUER 12.25000 11/15/2026 | US | 9,878.17 | $9,928.55 | |
| 36166LAA5 | GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 | AE | 29,634.52 | $30,708.77 | |
| 36246MAT6 | GTP AQUISITION PARTNERS 2.35000 06/15/2020 | US | 93,842.65 | $93,875.45 | |
| 363576109 | ARTHUR J GALLAGHER & CO | US | AJG | 464.27 | $42,351.09 |
| 369604BQ5 | GENERAL ELECTRIC CO 5.00000 01/21/2021 | US | 493,908.69 | $476,004.50 | |
| 37045XAR7 | GENERAL MOTORS FINL CO 3.15000 01/15/2020 | US | 553,177.74 | $553,925.61 | |
| 372460105 | GENUINE PARTS CO | US | GPC | 538.36 | $55,225.02 |
| 374297109 | GETTY REALTY CORP | US | GTY | 498.85 | $16,731.35 |
| 375558103 | GILEAD SCIENCES INC | US | GILD | 851.5 | $54,248.97 |
| 37960JAA6 | GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 | KY | 9,878.17 | $10,109.82 | |
| 38141G104 | GOLDMAN SACHS | US | GS | 88.9 | $18,970.24 |
| 38141GVR2 | GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 | US | 256,832.52 | $276,647.38 | |
| 38378HVC7 | GNR 2012-113 PY 2.50000 09/20/2042 | US | 246,954.35 | $246,681.91 | |
| 38379RRX3 | GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 314,137.15 | $316,767.55 | |
| 388689101 | GRAPHIC PACKAGING HOLDING CO | US | GPK | 3,704.32 | $58,009.58 |
| 404119BX6 | HCA INC 4.12500 06/15/2029 | US | 434,639.65 | $460,459.42 | |
| 404139AD9 | HC2 HOLDINGS INC 11.50000 12/01/2021 | US | 4,939.09 | $4,500.74 | |
| 40414L109 | HCP INC | US | HCP | 1,160.69 | $43,664.99 |
| 406216101 | HALLIBURTON CO | US | HAL | 9,226.21 | $177,604.63 |
| 421946104 | HEALTHCARE REALTY TRUST INC | US | HR | 1,378.01 | $47,913.24 |
| 42225P501 | HEALTHCARE TRUST OF AMERICA | US | HTA | 1,017.45 | $31,541.01 |
| 43300A203 | HILTON WORLDWIDE HOLDINGS INC | US | HLT | 128.42 | $12,451.24 |
| 437076102 | HOME DEPOT INC | US | HD | 498.85 | $117,019.71 |
| 438128308 | HONDA MOTOR CO LTD -SPONS ADR | JP | HMC | 1,433.32 | $38,656.72 |
| 438516106 | HONEYWELL INTERNATIONAL INC | US | HON | 393.15 | $67,909.03 |
| 44107P104 | HOST MARRIOTT CORP | US | HST | 943.37 | $15,461.76 |
| 444454AD4 | HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 | US | 14,817.26 | $15,872.99 | |
| 452308109 | ILLINOIS TOOL WKS INC | US | ITW | 221.27 | $37,301.88 |
| 45337C102 | INCYTE CORP | US | INCY | 1,205.14 | $101,135.11 |
| 45378A106 | INDEPENDENCE REALTY TRUST IN | US | IRT | 3,289.43 | $50,657.25 |
| 45682RAA8 | INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 | AU | 9,878.17 | $10,067.04 | |
| 458140100 | INTEL CORP | US | INTC | 3,959.17 | $223,812.00 |
| 45866F104 | INTERCONTINENTALEXCHANGE INC | US | ICE | 1,639.78 | $154,663.75 |
| 459200101 | INTERNATIONAL BUSINESS MACH CORP | US | IBM | 519.59 | $69,485.03 |
| 46187BAA1 | IHSFR 2017-SFR2 A 2.73913 12/17/2036 | US | 74,199.13 | $74,094.83 | |
| 46187BAB9 | IHSFR 2017-SFR2 B 3.03913 12/17/2036 | US | 59,269.04 | $59,324.65 | |
| 46187W107 | INVITATION HOMES INC | US | INVH | 1,834.38 | $56,480.46 |
| 464287598 | ISHARES RUSSELL 1000 VALUE | US | 1,343.43 | $174,740.15 | |
| 466032109 | J&J SNACK FOODS CORP | US | JJSF | 251.89 | $48,051.19 |
| 46625H100 | JP MORGAN CHASE & CO | US | JPM | 2,225.55 | $278,016.03 |
| 46640BAC8 | JPMMT 2013-2 A2 3.50000 05/25/2043 | US | 73,806.73 | $75,247.44 | |
| 46641YAA1 | JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 92,975.56 | $94,433.86 | |
| 46647PAY2 | JPMORGAN CHASE & CO 4.02300 12/05/2024 | US | 375,370.61 | $400,819.90 | |
| 46647SAE0 | JPMMT 2017-3 1A3 3.50000 08/25/2047 | US | 268,685.28 | $273,258.30 | |
| 46648HAE3 | JPMMT 2017-2 A5 3.50000 05/25/2047 | US | 269,959.69 | $273,517.22 | |
| 46648HAF0 | JPMMT 2017-2 A6 3.00000 05/25/2047 | US | 289,956.71 | $291,515.82 | |
| 4741844 | MERCK KGAA | DE | MRK GR | 2,528.81 | $301,602.72 |
| 476405105 | JERNIGAN CAPITAL INC | US | JCAP | 1,783.01 | $33,859.37 |
| 478160104 | JOHNSON & JOHNSON | US | JNJ | 5,018.11 | $662,591.55 |
| 47987LAA9 | JONAH NRG LLC/FINANCE 7.25000 10/15/2025 | US | 14,817.26 | $4,148.83 | |
| 485170302 | KANSAS CITY SOUTHERN | US | KSU | 414.88 | $58,407.27 |
| 487526AB1 | KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 | US | 9,878.17 | $10,131.30 | |
| 493267108 | KEYCORP | US | KEY | 1,121.17 | $20,147.47 |
| 49427F108 | KILROY REALTY CORP | US | KRC | 113.6 | $9,534.36 |
| 494368103 | KIMBERLY CLARK CORP | US | KMB | 252.88 | $33,602.86 |
| 494550AW6 | KINDER MORGAN ENER PART 6.95000 01/15/2038 | US | 454,396 | $587,407.93 | |
| 49456BAE1 | KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 | US | 553,177.74 | $553,555.20 | |
| 50187TAE6 | LGI HOMES INC 6.87500 07/15/2026 | US | 14,817.26 | $15,335.86 | |
| 529043101 | LEXINGTON REALTY TRUST | US | LXP | 1,101.42 | $11,983.41 |
| 531172104 | LIBERTY PROPERTY TRUST | US | LPT | 449.46 | $26,549.42 |
| 53223X107 | LIFE STORAGE INC | US | LSI | 123.48 | $13,449.13 |
| 534187109 | LINCOLN NATL CORP IND | US | LNC | 296.35 | $16,737.58 |
| 539830109 | LOCKHEED MARTIN CORP | US | LMT | 157.06 | $59,162.48 |
| 54238XAC2 | LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 | US | 9,878.17 | $6,914.72 | |
| 550021109 | LULULEMON - ADR | CA | LULU | 1,501.48 | $306,707.81 |
| 56585A102 | MARATHON PETROLEUM CORP | US | MPC | 656.9 | $42,008.66 |
| 5671735 | SANOFI-AVENTIS | FR | SAN FP | 360.55 | $33,238.38 |
| 57636Q104 | MASTERCARD INC-CLASS A | US | MA | 1,733.62 | $479,883.22 |
| 580135101 | MCDONALDS CORP | US | MCD | 93.84 | $18,458.85 |
| 58933Y105 | MERCK & CO INC | US | MRK | 2,351.99 | $203,823.73 |
| 594918104 | MICROSOFT CORP | US | MSFT | 3,571.95 | $512,110.14 |
| 595112103 | MICRON TECHNOLOGY INC | US | MU | 9,443.53 | $449,040.05 |
| 59522J103 | MID-AMERICA APARTMENT COMM | US | MAA | 138.29 | $19,221.54 |
| 609207105 | MONDELEZ INTERNATIONAL INC | US | MDLZ | 7,420.48 | $389,204.40 |
| 615369105 | MOODY'S CORPORATION | US | MCO | 671.72 | $148,240.96 |
| 617446448 | MORGAN STANLEY | US | MS | 222.26 | $10,235.02 |
| 61965RAB1 | MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 | US | 4,939.09 | $3,815.44 | |
| 62426EAA3 | MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 | CA | 14,817.26 | $14,372.74 | |
| 62957HAC9 | NABORS INDUSTRIES INC 5.50000 01/15/2023 | US | 9,878.17 | $8,347.06 | |
| 637417106 | NATIONAL RETAIL PROPERTIES | US | NNN | 484.03 | $28,514.24 |
| 637870106 | NATIONAL STORAGE AFFILIATES | US | NSA | 469.21 | $16,033.02 |
| 63938CAA6 | NAVIENT CORP 5.00000 10/26/2020 | US | 9,878.17 | $10,060.43 | |
| 63940YAA4 | NAVSL 2019-CA A1 2.82000 02/15/2068 | US | 226,589.34 | $228,809.52 | |
| 63941RAB6 | NAVSL 2019-2A A2 2.82275 02/27/2068 | US | 543,299.56 | $548,019.20 | |
| 64829DAG1 | NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 78,319.96 | $81,471.02 | |
| 64829EAA2 | NRZT 2015-2A A1 3.75000 08/25/2055 | US | 88,724.52 | $92,499.68 | |
| 64829LAA6 | NRZT 2016-4A A1 3.75000 11/25/2056 | US | 118,618.06 | $123,720.35 | |
| 66727WAA0 | NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 14,817.26 | $7,408.63 | |
| 66987V109 | NOVARTIS AG- REG | CH | NVS | 5,166.28 | $451,739.95 |
| 67059TAD7 | NUSTAR LOGISTICS LP 6.75000 02/01/2021 | US | 9,878.17 | $10,235.57 | |
| 67066G104 | NVIDIA CORP | US | NVDA | 829.77 | $166,799.68 |
| 67103H107 | O'REILLY AUTOMOTIVE INC | US | ORLY | 75.07 | $32,695.53 |
| 674599105 | OCCIDENTAL PETROLEUM CORP | US | OXY | 997.7 | $40,406.67 |
| 680665AL0 | OLIN CORP 5.62500 08/01/2029 | US | 9,878.17 | $10,256.21 | |
| 681936100 | OMEGA HEALTHCARE INVS INC | US | OHI | 444.52 | $19,576.56 |
| 693475105 | PNC FINANCIAL SERVICES GROUP | US | PNC | 172.87 | $25,359.74 |
| 70338P100 | PATTERN ENERGY GROUP INC -A | US | PEGI | 779.39 | $21,846.24 |
| 7123870 | NESTLE SA-REGISTERED | CH | NESN SW | 2,736.25 | $292,728.14 |
| 713448108 | PEPSICO INC | US | PEP | 2,533.75 | $347,554.71 |
| 71654V101 | PETROLEO BRASIL-SP PREF ADR | BR | PBR/A | 3,023.71 | $45,627.77 |
| 717081103 | PFIZER INC | US | PFE | 3,681.6 | $141,262.82 |
| 719245AD4 | PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 | US | 9,878.17 | $8,694.08 | |
| 71943U104 | PHYSICIANS REALTY TRUST | US | DOC | 2,731.32 | $50,993.65 |
| 729640102 | PLYMOUTH INDUSTRIAL REIT INC | US | 1,432.34 | $27,013.84 | |
| 741503AZ9 | BOOKING HOLDINGS INC 3.60000 06/01/2026 | US | 780,375.73 | $844,879.61 | |
| 74166MAC0 | PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 | US | 4,939.09 | $5,061.08 | |
| 74251V102 | PRINCIPAL FINANCIAL GROUP | US | PFG | 330.92 | $17,664.45 |
| 742718109 | PROCTER & GAMBLE CO | US | PG | 469.21 | $58,421.74 |
| 74333KAA6 | PROG 2017-SFR2 A 2.89700 12/17/2034 | US | 148,172.61 | $148,910.56 | |
| 74333NAA0 | PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 | US | 276,588.87 | $281,389.34 | |
| 74340W103 | PROLOGIS | US | PLD | 1,042.15 | $91,458.85 |
| 74460D109 | PUBLIC STORAGE INC | US | PSA | 172.87 | $38,525.37 |
| 749685103 | RPM INTERNATIONAL INC | US | RPM | 726.05 | $52,587.50 |
| 750236AW1 | RADIAN GROUP INC 4.87500 03/15/2027 | US | 14,817.26 | $15,372.91 | |
| 756109104 | REALTY INCOME CORP | US | O | 138.29 | $11,311.10 |
| 7591EP100 | REGIONS FINANCIAL CORP. | US | RF | 1,145.87 | $18,448.48 |
| 760759100 | REPUBLIC SERVICES INC | US | RSG | 518.6 | $45,383.05 |
| 767204100 | RIO TINTO PLC - SPON ADR | GB | RIO | 891.01 | $46,341.50 |
| 77340RAK3 | ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 | US | 9,878.17 | $10,044.10 | |
| 780259107 | ROYAL DUTCH SHELL PLC-ADR B | NL | RDS/B | 207.44 | $12,091.77 |
| 78409V104 | S&P GLOBAL INC | US | SPGI | 592.69 | $152,908.20 |
| 78410G104 | SBA COMMUNICATIONS CORP | US | SBAC | 582.81 | $140,253.77 |
| 78442PGC4 | SLM CORP 5.12500 04/05/2022 | US | 14,817.26 | $15,298.82 | |
| 78470NAB2 | SOFI 2015-D A2 2.72000 10/27/2036 | US | 70,790.55 | $71,435.78 | |
| 78470RAC1 | SOFI 2016-E A2B 2.49000 01/25/2036 | US | 205,820.19 | $206,619.45 | |
| 785592AV8 | SABINE PASS LIQUEFACTION 5.87500 06/30/2026 | US | 642,081.3 | $737,270.89 | |
| 80282KAE6 | SANTANDER HOLDINGS USA 4.50000 07/17/2025 | US | 513,665.04 | $553,524.70 | |
| 806857108 | SCHLUMBERGER LTD | NL | SLB | 3,358.58 | $109,791.95 |
| 808524797 | SCHWAB US DVD EQUITY ETF | US | 2,268.03 | $125,920.95 | |
| 81141R100 | SEA LTD - ADR | SG | SE | 8,732.31 | $259,873.42 |
| 81211K100 | SEALED AIR CORP | US | SEE | 1,037.21 | $43,324.19 |
| 812578102 | SEATTLE GENETICS INC | US | SGEN | 1,205.14 | $129,431.74 |
| 81745EAA7 | SEMT 2013-8 A1 3.00000 06/25/2043 | US | 107,199.53 | $108,409.71 | |
| 81762P102 | SERVICENOW INC | US | NOW | 1,244.65 | $307,752.14 |
| 822538AE4 | SHELF DRILL HOLD LTD 8.25000 02/15/2025 | KY | 9,878.17 | $8,297.67 | |
| 828806109 | SIMON PROPERTY GROUP INC | US | SPG | 419.82 | $63,258.84 |
| 831641FC4 | SBIC 2015-10A 1 2.51700 03/10/2025 | US | 77,601.31 | $78,907.69 | |
| 83401BAA4 | SOFI 2017-F A1FX 2.05000 01/25/2041 | US | 24,376.98 | $24,375.19 | |
| 83401BAB2 | SOFI 2017-F A2FX 2.84000 01/25/2041 | US | 74,086.3 | $75,186.44 | |
| 83402JAC2 | SOFI 2016-B A2B 2.74000 10/25/2032 | US | 56,260.59 | $56,630.98 | |
| 83404YAA1 | SCLP 2016-5 A 3.06000 09/25/2028 | US | 78,171.74 | $78,572.61 | |
| 83405TAA1 | SCLP 2019-3 A MTGE 2.90000 05/25/2028 | US | 222,339.92 | $223,922.09 | |
| 83406CAA7 | SCLP 2019-2 A MTGE 3.01000 04/25/2028 | US | 177,846.8 | $179,239.18 | |
| 83406EAB1 | SOFI 2018-A A2A 2.39000 02/25/2042 | US | 63,564.73 | $63,687.27 | |
| 835699307 | SONY CORP SPONSORED ADR | JP | SNE | 4,840.31 | $294,435.76 |
| 84265VAD7 | SOUTHERN COPPER CORP 5.37500 04/16/2020 | US | 572,934.08 | $580,002.17 | |
| 845467AL3 | SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 | US | 9,878.17 | $8,692.79 | |
| 852061AR1 | SPRINT COMMUNICATIONS 7.00000 08/15/2020 | US | 14,817.26 | $15,264.30 | |
| 85207UAE5 | SPRINT CORP 7.25000 09/15/2021 | US | 4,939.09 | $5,270.30 | |
| 85207UAH8 | SPRINT CORP 7.12500 06/15/2024 | US | 4,939.09 | $5,358.91 | |
| 85254J102 | STAG INDUSTRIAL INC | US | STAG | 1,333.55 | $41,393.50 |
| 855030AN2 | STAPLES INC 7.50000 04/15/2026 | US | 9,878.17 | $10,275.28 | |
| 85571XAA5 | SRPT 2014-STAR A FLTG RATE 3.13350 11/15/2027 | US | 249,529.94 | $249,081.01 | |
| 858912AF5 | STERICYCLE INC 5.37500 07/15/2024 | US | 14,817.26 | $15,409.95 | |
| 862121100 | STORE CAPITAL CORP | US | STOR | 405.01 | $16,402.71 |
| 866674104 | SUN COMMUNITIES | US | SUI | 251.89 | $40,970.47 |
| 86723CAF5 | SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 | US | 4,939.09 | $4,198.22 | |
| 867892101 | SUNSTONE HOTEL INVESTORS INC | US | SHO | 785.31 | $10,609.60 |
| 86935CAA0 | SCML 2019-SBC8 2.86000 12/25/2035 | US | 254,886.07 | $256,338.79 | |
| 87612E106 | TARGET CORP | US | TGT | 360.55 | $38,546.76 |
| 87854WAA1 | TECHNIPLAS LLC 10.00000 05/01/2020 | US | 9,878.17 | $8,347.06 | |
| 88032WAN6 | TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 405,005.13 | $435,874.45 | |
| 882508104 | TEXAS INSTRUMENTS INC | US | TXN | 554.17 | $65,385.99 |
| 88579Y101 | 3M CO | US | MMM | 393.15 | $64,866.04 |
| 89151E109 | TOTAL S A SPONSORED ADR | FR | TOT | 1,003.62 | $52,820.65 |
| 89173CAA5 | TPMT 2016-5 A1 2.50000 10/25/2056 | US | 178,937.96 | $179,622.24 | |
| 89173FAA8 | TPMT 2017-1 A1 2.75000 10/25/2056 | US | 166,061.48 | $168,026.35 | |
| 89177EAA7 | TPMT 2019-HY1 A1 2.82275 10/25/2048 | US | 157,173.13 | $158,012.76 | |
| 892231AA9 | TOWNSQUARE MEDIA INC 6.50000 04/01/2023 | US | 4,939.09 | $4,889.70 | |
| 89613BAA5 | TAH 2016-SFR1 A 2.58900 11/17/2033 | US | 212,444.86 | $212,399.90 | |
| 89613FAA6 | TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 197,004.59 | $199,958.74 | |
| 901109AF5 | TUTOR PERINI CORP 6.87500 05/01/2025 | US | 14,817.26 | $14,778.00 | |
| 902653104 | UDR INC | US | UDR | 672.7 | $33,803.36 |
| 902973304 | U.S. BANCORP | US | USB | 992.76 | $56,606.97 |
| 903002103 | UMH PROPERTIES INC | US | UMH | 607.51 | $9,070.09 |
| 904767704 | UNILEVER PLC - ADR | GB | UL | 5,514 | $331,446.34 |
| 907818108 | UNION PAC CORP | US | UNP | 405.01 | $67,012.15 |
| 911312106 | UNITED PARCEL SERVICE | US | UPS | 1,024.37 | $117,976.30 |
| 912796SR1 | TREASURY BILL 0.00000 05/21/2020 | US | 1,580,507.82 | $1,566,894.80 | |
| 912810QV3 | UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 | US | 372,812.44 | $391,746.54 | |
| 912810RX8 | US TREASURY N/B 3.00000 05/15/2047 | US | 647,020.39 | $757,620.43 | |
| 9128284P2 | US TREASURY N/B 2.62500 05/15/2021 | US | 1,516,299.69 | $1,539,991.87 | |
| 9128286N5 | TSY INFL IX N/B 0.50000 04/15/2024 | US | 1,507,285.85 | $1,527,101.49 | |
| 912828K33 | UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 | US | 3,116,016.51 | $3,099,340.96 | |
| 912828R36 | US TREASURY N/B 1.62500 05/15/2026 | US | 2,331,249.03 | $2,334,982.66 | |
| 912828VS6 | US TREASURY N/B 2.50000 08/15/2023 | US | 4,647,680.79 | $4,813,254.43 | |
| 912828WJ5 | US TREASURY N/B 2.50000 05/15/2024 | US | 2,237,406.38 | $2,331,796.96 | |
| 912828XB1 | UNITED STATES TREAS NTS 2.12500 05/15/2025 | US | 2,252,223.64 | $2,318,118.77 | |
| 913017109 | UNITED TECHNOLOGIES CORP | US | UTX | 537.37 | $77,155.97 |
| 91704F104 | URBAN EDGE PROPERTIES | US | UE | 1,101.42 | $23,250.90 |
| 918204108 | VF CORP | US | VFC | 353.64 | $29,100.92 |
| 91913Y100 | VALERO ENERGY | US | VLO | 374.38 | $36,307.64 |
| 92276F100 | VENTAS INC | US | VTR | 493.91 | $32,153.46 |
| 92339V100 | VEREIT INC | US | VER | 2,988.15 | $29,403.37 |
| 92343V104 | VERIZON COMMUNICATIONS | US | VZ | 1,190.32 | $71,978.65 |
| 92343VDU5 | VERIZON COMMUNICATIONS 5.25000 03/16/2037 | US | 711,228.52 | $895,847.92 | |
| 92532F100 | VERTEX PHARMACEUTICALS INC | US | VRTX | 513.67 | $100,411.24 |
| 92826C839 | VISA INC - CLASS A SHARES | US | V | 2,420.15 | $432,868.49 |
| 92840JAA7 | VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 | MUL | 9,878.17 | $9,606.52 | |
| 929042109 | VORNADO REALTY TRUST | US | VNO | 172.87 | $11,345.33 |
| 92922PAL0 | W & T OFFSHORE INC 9.75000 11/01/2023 | US | 4,939.09 | $4,630.39 | |
| 92935JBC8 | WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 | US | 332,053.83 | $339,861.57 | |
| 93065PAA9 | WBHT 2019-WBM A FLT 2.97125 12/15/2033 | US | 172,868.04 | $172,975.24 | |
| 931142103 | WAL MART STORES | US | WMT | 1,173.53 | $137,607.78 |
| 931427108 | WALGREENS BOOTS ALLIANCE INC | US | WBA | 691.47 | $37,878.85 |
| 94106L109 | WASTE MANAGEMENT INC | US | WM | 802.11 | $90,004.51 |
| 94856UAA9 | WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 | US | 14,817.26 | $15,039.52 | |
| 948741103 | WEINGARTEN REALTY INVESTORS | US | WRI | 716.17 | $22,724.00 |
| 949746101 | WELLS FARGO COMPANY | US | WFC | 3,255.85 | $168,099.33 |
| 95040Q104 | WELLTOWER INC. | US | WELL | 452.42 | $41,030.00 |
| 96949LAD7 | WILLIAMS PARTNERS LP 3.75000 06/15/2027 | US | 395,126.95 | $411,976.95 | |
| 97651JAE6 | WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 | US | 67,422.61 | $67,575.68 | |
| AP8694550 | BOREALIS FINANCE LLC 7.50000 11/16/2022 | MH | 14,817.26 | $13,928.23 | |
| B29TNV3 | INNERGEX RENEWABLE ENERGY | CA | INE CN | 1,950.94 | $24,351.57 |
| B3ZD2V9 | MEX BONOS DESARR FIX RT 6.50000 06/10/2021 | MX | 271,649.78 | $14,090.09 | |
| B4888C1 | CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 | CA | 32,597.97 | $25,526.70 | |
| B4NDCC9 | MEX BONOS DESARR FIX RT 6.50000 06/09/2022 | MX | 497,859.96 | $25,850.73 | |
| B615Y14 | MEX BONOS DESARR FIX RT 8.00000 06/11/2020 | MX | 724,070.14 | $37,908.06 | |
| B63QM77 | NEXON CO LTD | JP | 3659 JP | 25,485.69 | $295,334.43 |
| B68XHC3 | NORTHLAND POWER INC | CA | NPI CN | 1,180.44 | $23,571.19 |
| B6TC406 | MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 90,879.2 | $5,052.32 | |
| BBG00P131QW2 | SE US 11/15/19 C27 | SG | -40.5 | -$12,555.16 | |
| BBG00QG82MR7 | NOW US 11/08/19 P200 | US | -4.94 | -$197.56 | |
| BBG00QH0RKM5 | EA US 11/01/19 P87.5 | US | -8.89 | -$17.78 | |
| BGHQ198 | HIBERNIA REIT PLC | IE | HBRN ID | 8,692.79 | $13,534.31 |
| BMMV2K8 | TENCENT HOLDINGS LTD | CN | 700 HK | 6,954.23 | $282,084.04 |
| BMTRW10 | B&M EUROPEAN VALUE RETAIL SA | GB | BME LN | 5,324.34 | $25,542.97 |
| BP9DL90 | INDUSTRIA DE DISENO TEXTIL | ES | ITX SM | 7,942.05 | $247,480.78 |
| BYYHL23 | ANHEUSER-BUSCH INBEV SA/NV | BE | ABI BB | 3,170.89 | $255,946.40 |
| G29183103 | EATON CORP PLC | US | ETN | 369.44 | $32,182.24 |
| G51502105 | JOHNSON CONTROLS INTERNATIONAL | US | JCI | 1,427.4 | $61,849.07 |
| G5960L103 | MEDTRONIC INC | IE | MDT | 5,769.84 | $628,335.72 |
| H01301128 | ALCON INC | CH | ALC | 2,370.76 | $140,515.05 |
| H1467J104 | CHUBB LTD | CH | CB | 214.36 | $32,672.20 |
| H8817H100 | TRANSOCEAN LTD | US | RIG | 12,456.38 | $59,167.79 |
| N47279109 | INTERXION HOLDING NV | NL | INXN | 3,348.7 | $295,422.40 |
| USD | US DOLLAR | US | 746,889.25 | $746,889.25 |
Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Conservative Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Conservative Series beginning 10/16/2017. Investments will change over time. Fund holdings list does not include securities with positions less than 0.005 shares.
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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