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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$9.91

Daily $ Change

$0.19

Daily % Change

1.92%

as of 04/06/2020

Ticker

MTDRX

CUSIP

56382P831

Inception Date

03/28/2008

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

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

Performance

As of 02/29/2020

YTD

-0.48%

1 Year

7.83%

3 Year

4.58%

5 Year

3.12%

10 Year

4.64%

Inception
(03/28/2008)

4.43%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.15%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.50%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee.

Top Ten Investments

As of 02/29/2020

GOVERNMENT AGENCY 13.97%
TREASURY NOTES 11.87%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.08%
TREASURY BONDS 3.20%
TSY INFL IX N/B 2.00000 01/15/2026 3.12%
TSY INFL IX N/B 0.50000 04/15/2024 2.25%
TREASURY BILLS 2.08%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.30%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.24%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.11%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Bonds 74.20%
Stocks 24.67%
Cash 1.13%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities 6.61%
Small Capitalization 0.37%
Mid Capitalization 0.75%
Large Capitalization 16.94%
Long Term Fixed Income 18.63%
Intermediate Term Fixed Income 41.11%
Short Term Fixed Income 14.46%
Cash 1.13%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,914.53 $5,124.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 511,111.26 $576,040.06
00287Y109 ABBVIE INC US ABBV 1,739.74 $149,113.47
004239109 ACADIA REALTY TRUST US AKR 702.78 $16,051.45
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 4,914.53 $4,802.48
00507V109 ACTIVISION INC US ATVI 4,452.57 $258,827.63
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 520,940.33 $574,459.57
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,829.06 $10,345.09
008492100 AGREE REALTY CORP US ADC 186.75 $13,412.54
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 265,384.69 $281,481.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 68.8 $10,449.87
01609W102 ALIBABA GROUP - ADR CN BABA 697.86 $145,155.60
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 432,478.76 $465,843.27
02079K107 ALPHABET INC-CL C US GOOG 108.12 $144,807.95
02079K305 ALPHABET INC-CL A US GOOGL 108.12 $144,799.30
023135106 AMAZON.COM INC US AMZN 157.27 $296,247.95
0237400 DIAGEO PLC GB DGE LN 3,336.97 $119,061.56
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 683.12 $29,674.73
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,508.76 $39,061.83
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,658.13 $20,446.31
03027X100 AMERICAN TOWER REIT INC US AMT 638.89 $144,900.04
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 540,598.45 $595,534.76
03064D108 AMERICOLD REALTY TRUST US COLD 923.93 $28,336.99
031162100 AMGEN INC US AMGN 816.8 $163,138.49
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 9,829.06 $6,683.76
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 9,829.06 $6,732.91
03748R754 APARTMENT INVT & MGMT CO -A US AIV 824.66 $39,451.66
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 9,829.06 $10,001.07
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 9,829.06 $10,148.51
053484101 AVALONBAY COMMUNITIES INC US AVB 304.7 $61,119.96
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 275,213.76 $277,055.76
055622104 BP PLC-SPONS ADR GB BP 1,557.91 $48,746.89
060505104 BANK OF AMERICA CORP US BAC 5,872.87 $167,376.65
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 766,666.9 $836,388.87
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,734.83 $357,964.74
088606108 BHP GROUP LTD AU BHP 2,607.65 $112,937.34
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,182.05 $197,192.03
097023105 BOEING CO US BA 516.03 $141,963.86
09857L108 BOOKING HOLDINGS INC US BKNG 73.72 $125,000.61
101121101 BOSTON PROPERTIES INC US BXP 340.09 $43,850.63
105368203 BRANDYWINE REALTY TRUST US BDN 2,437.61 $33,102.71
110122108 BRISTOL MYERS SQUIBB CO US BMY 2,029.7 $119,874.17
11135F101 BROADCOM INC US AVGO 402.99 $109,863.56
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,829.06 $5,209.40
1248EPCE1 CCO HLDGS LLC/CAP CORP 4.50000 08/15/2030 US 4,914.53 $4,969.82
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,287.61 $146,787.22
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 80,170.76 $82,489.28
12572Q105 CME GROUP INC US CME 707.69 $140,703.43
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 117,615.77 $117,554.33
12662PAD0 CVR ENERGY INC 5.75000 02/15/2028 US 4,914.53 $4,644.23
126650100 CVS HEALTH CORP US CVS 1,520.56 $89,986.50
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,829.06 $10,369.66
133131102 CAMDEN PROPERTY TRUST US CPT 461.97 $48,959.15
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 4,914.53 $4,871.53
149123101 CATERPILLAR INC US CAT 701.8 $87,191.02
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 143,915.17 $146,024.08
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 4,914.53 $4,923.75
166764100 CHEVRON CORP US CVX 1,851.8 $172,846.59
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,686.67 $86,930.83
17275R102 CISCO SYSTEMS INC US CSCO 4,315.94 $172,335.54
172967424 CITIGROUP INC US C 1,769.23 $112,275.42
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 265,384.69 $459,439.01
191216100 COCA COLA CO/THE US KO 5,248.72 $280,754.01
194162103 COLGATE-PALMOLIVE CO US CL 1,322.01 $89,328.14
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 442,307.82 $477,987.69
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 279,785.95 $286,582.71
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 550.43 $26,216.86
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 14,743.59 $15,628.21
20825C104 CONOCOPHILLIPS US COP 968.16 $46,878.44
222795502 COUSINS PROPERTIES INC US CUZ 1,106.75 $39,500.00
225310AN1 CREDIT ACCEPTANC 5.12500 12/31/2024 US 9,829.06 $10,123.93
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 285,042.82 $286,501.36
22822V101 CROWN CASTLE INTL CORP US CCI 181.84 $26,055.52
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 570,085.64 $600,832.44
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 77,745.43 $76,449.08
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 9,829.06 $7,928.61
253868103 DIGITAL REALTY TRUST INC US DLR 54.06 $6,493.13
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 540,598.45 $637,323.17
256746108 DOLLAR TREE STORES INC US DLTR 1,621.8 $134,657.67
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 14,743.59 $15,144.62
25960P109 DOUGLAS EMMETT INC US DEI 732.27 $27,957.88
262006208 DREYFUS GVT CSH MANAGEMENT US 875,512.94 $875,512.93
2715777 QUEBECOR INC -CL B CA QBR/B CN 2,919.23 $68,204.21
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,764.53 $65,151.83
285512109 ELECTRONIC ARTS US EA 1,985.47 $201,267.16
291011104 EMERSON ELEC CO US EMR 1,033.03 $66,227.84
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 344,017.2 $414,582.66
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 9,829.06 $10,222.42
29444U700 EQUINIX INC US EQIX 545.51 $312,469.84
29446M102 EQUINOR ASA-SPON ADR NO EQNR 3,329.1 $51,767.56
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 265.38 $18,133.74
29476L107 EQUITY RESIDENTIAL US EQR 412.82 $31,002.83
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 952.44 $21,820.31
297178105 ESSEX PROPERTY TRUST INC US ESS 82.56 $23,395.37
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 982,906.28 $992,444.86
30225T102 EXTRA SPACE STORAGE INC US EXR 98.29 $9,864.45
30262DAL5 FREMF 2011-K13 B 4.61222 01/25/2048 US 316,008.3 $323,090.24
30287EAE0 FREMF 2014-K41 B FLT 3.83254 11/25/2047 US 268,333.41 $291,585.42
30291YAJ9 FREMF 2014-K716 B FLT 3.95176 08/25/2047 US 443,290.73 $454,080.60
30303M102 FACEBOOK INC -A US FB 2,732.48 $525,920.32
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 31,142.55 $36,631.53
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 30,162.13 $34,737.25
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 27,304 $31,448.76
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 98,465.75 $107,313.80
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 114,333.12 $125,948.53
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 124,691.13 $137,427.35
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 276,955.63 $288,771.42
3131YBKP2 FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 US 338,593.82 $357,868.74
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 147,525.44 $157,004.53
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 188,579.54 $203,864.24
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 271,920.08 $283,653.01
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 153,148.48 $163,753.56
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 83,230.12 $89,471.64
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 100,162.18 $110,394.56
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 210,006.15 $227,677.69
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 298,189.63 $309,150.98
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 260,229.3 $276,924.02
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 266,862.77 $284,715.28
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 68.8 $8,004.59
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 258,266.68 $264,956.26
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 208,818.93 $214,126.27
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 70,651.71 $82,786.75
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 63,355.26 $68,801.91
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 122,492.63 $139,963.16
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 572,064.8 $614,396.32
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 278,318.4 $296,578.35
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 80,591.42 $86,535.27
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 83,333.14 $89,068.48
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 70,723.99 $76,349.10
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 85,842.19 $91,740.54
3140J9SN2 FEDERAL NATL MTG ASSN FN BM5024 3.00000 11/01/2048 US 389,437.19 $403,771.33
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 218,790.16 $233,729.58
3140K1TB2 FEDERAL NATL MTG ASSN FN BO5945 3.50000 11/01/2049 US 385,540.79 $402,232.57
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 497,522.04 $556,644.53
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 484,541.64 $520,208.82
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 442,188.31 $480,363.64
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 288,581.92 $302,329.99
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 4,954.07 $5,014.57
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5,785.52 $5,848.60
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 66,767.11 $76,890.52
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 72,116.65 $83,143.96
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 85,917.96 $94,725.52
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 62,641.92 $68,186.07
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 75,810.69 $82,587.91
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 687,504.74 $724,878.72
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 371,506.04 $402,403.23
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 269,980.93 $283,076.90
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 365,060.39 $382,642.95
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 230,416.61 $242,559.08
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 210,284.6 $221,929.97
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 517,846.64 $537,618.73
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 35,461.96 $40,863.98
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 41,596.21 $48,719.80
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 4,914.53 $5,455.13
32054K103 FIRST INDUSTRIAL REALTY TR US FR 358.76 $13,812.29
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 9,829.06 $9,872.11
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 285,042.82 $302,145.90
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 9,829.06 $9,657.05
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 19,658.13 $20,591.89
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 9,829.06 $10,219.28
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 93,376.1 $93,776.36
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 491,453.14 $481,117.88
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 9,829.06 $8,452.99
374297109 GETTY REALTY CORP US GTY 388.25 $11,002.95
375558103 GILEAD SCIENCES INC US GILD 1,827.22 $126,736.17
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 14,743.59 $14,522.44
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 245,726.57 $256,253.92
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 310,281.35 $319,519.26
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 8,836.33 $119,467.15
38869PAK0 GRAPHIC PACKAGING INTERN 4.75000 04/15/2021 US 9,829.06 $9,976.20
398433AN2 GRIFFON CORPORATION 5.75000 03/01/2028 US 9,829.06 $9,832.70
404119BX6 HCA INC 4.12500 06/15/2029 US 432,478.76 $474,556.81
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 4,914.53 $4,963.68
406216101 HALLIBURTON CO US HAL 6,890.17 $116,857.33
421946104 HEALTHCARE REALTY TRUST INC US HR 796.15 $27,308.09
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 481.62 $14,997.77
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,287.61 $40,739.89
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 117.95 $11,464.62
437076102 HOME DEPOT INC US HD 1,074.32 $234,029.12
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,716.75 $69,711.88
438516106 HONEYWELL INTERNATIONAL INC US HON 819.74 $132,937.86
44107P104 HOST MARRIOTT CORP US HST 938.68 $13,592.02
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 14,743.59 $15,107.76
452308109 ILLINOIS TOOL WKS INC US ITW 462.95 $77,673.56
45337C102 INCYTE CORP US INCY 1,081.2 $81,533.06
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,829.06 $10,062.50
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 219.19 $20,152.15
458140100 INTEL CORP US INTC 3,972.91 $220,575.81
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,533.33 $136,804.04
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,103.8 $143,660.06
46187BAA1 IHSFR 2017-SFR2 A 2.50850 12/17/2036 US 72,683.98 $72,282.42
46187BAB9 IHSFR 2017-SFR2 B 2.80850 12/17/2036 US 58,974.38 $58,844.91
46187W107 INVITATION HOMES INC US INVH 2,139.79 $61,390.49
46625H100 JP MORGAN CHASE & CO US JPM 2,088.68 $242,516.15
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 67,200.4 $69,323.33
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 85,769.63 $87,283.43
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 373,504.39 $404,936.18
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 233,735.6 $240,839.06
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 230,370.92 $235,770.24
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 247,435.43 $251,771.74
4741844 MERCK KGAA DE MRK GR 2,290.17 $278,677.33
476405105 JERNIGAN CAPITAL INC US JCAP 1,754.49 $31,440.42
478160104 JOHNSON & JOHNSON US JNJ 4,724.83 $635,395.20
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 14,743.59 $3,538.46
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 9,829.06 $10,320.52
49427F108 KILROY REALTY CORP US KRC 117.95 $8,573.69
494368103 KIMBERLY CLARK CORP US KMB 582.86 $76,465.85
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 452,136.89 $605,991.88
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,743.59 $15,388.63
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,829.06 $7,051.12
53223X107 LIFE STORAGE INC US LSI 88.46 $9,545.89
539830109 LOCKHEED MARTIN CORP US LMT 338.12 $125,060.36
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 9,829.06 $6,413.46
550021109 LULULEMON - ADR CA LULU 619.23 $134,627.00
56585A102 MARATHON PETROLEUM CORP US MPC 1,262.05 $59,846.49
57636Q104 MASTERCARD INC-CLASS A US MA 1,464.53 $425,079.94
58933Y105 MERCK & CO INC US MRK 3,873.63 $296,565.39
594918104 MICROSOFT CORP US MSFT 1,788.89 $289,817.98
595112103 MICRON TECHNOLOGY INC US MU 7,656.84 $402,443.51
59522J103 MID-AMERICA APARTMENT COMM US MAA 142.52 $18,422.32
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,320.69 $386,532.22
615369105 MOODY'S CORPORATION US MCO 457.05 $109,706.05
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 9,829.06 $5,747.05
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 14,743.59 $14,370.58
637417106 NATIONAL RETAIL PROPERTIES US NNN 304.7 $15,494.04
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 9,829.06 $9,924.40
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 4,914.53 $5,184.83
63938EAC8 NAVSL 2014-1 A3 2.13675 06/25/2031 US 260,997.24 $256,855.37
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 143,589.45 $144,625.31
63941RAB6 NAVSL 2019-2A A2 2.62675 02/27/2068 US 540,598.45 $544,656.29
64032XAA3 NSLT 2012-3A A MTGE FLT 2.32675 02/25/2045 US 272,387.46 $270,501.26
64033GAA9 NSLT 2013-5A A MTGE FLT 2.25675 01/25/2037 US 270,250.92 $267,114.82
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 70,596.52 $74,730.29
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 81,155.66 $85,722.68
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 109,449.23 $115,188.85
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 14,743.59 $11,205.13
66987V109 NOVARTIS AG- REG CH NVS 5,140.6 $431,604.76
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,829.06 $10,026.63
67066G104 NVIDIA CORP US NVDA 560.26 $151,308.49
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 9,829.06 $9,842.06
675232102 OCEANEERING INTL INC US OII 7,981.2 $84,121.84
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 9,829.06 $9,165.60
681936100 OMEGA HEALTHCARE INVS INC US OHI 442.31 $17,515.39
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 250,641.1 $254,888.66
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 249,858.59 $258,570.16
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,267.95 $136,925.82
7123870 NESTLE SA-REGISTERED CH NESN SW 2,722.65 $280,176.57
713448108 PEPSICO INC US PEP 2,113.25 $279,012.20
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 7,216.5 $81,257.77
717081103 PFIZER INC US PFE 6,010.47 $200,869.97
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,829.06 $9,313.04
71943U104 PHYSICIANS REALTY TRUST US DOC 1,651.28 $31,143.19
729640102 PLYMOUTH INDUSTRIAL REIT INC US PLYM 589.74 $11,069.49
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 776,495.96 $850,313.19
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 14,743.59 $15,259.62
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 4,914.53 $5,060.49
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 147,162.03 $148,662.35
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 275,213.76 $284,074.82
74340W103 PROLOGIS US PLD 1,163.76 $98,081.78
74460D109 PUBLIC STORAGE INC US PSA 206.41 $43,164.53
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 14,743.59 $15,628.21
756109104 REALTY INCOME CORP US O 206.41 $14,942.04
758849103 REGENCY CENTERS CORP US REG 289.96 $16,655.15
767204100 RIO TINTO PLC - SPON ADR GB RIO 1,991.37 $93,454.91
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,829.06 $9,859.24
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,081.2 $48,145.70
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,661.11 $119,068.48
78409V104 S&P GLOBAL INC US SPGI 373.5 $99,318.55
78410G104 SBA COMMUNICATIONS CORP US SBAC 579.91 $153,729.59
78442GQJ8 SLMA 2005-7 A4 FLT 1.94413 10/25/2029 US 276,745.75 $274,109.64
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,743.59 $15,038.47
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 334,188.13 $335,859.07
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 60,114.1 $60,847.97
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 160,111.93 $161,787.76
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 638,889.08 $741,602.83
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 511,111.26 $568,125.90
806857108 SCHLUMBERGER LTD NL SLB 4,369.02 $118,356.71
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 97,039.55 $99,349.38
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 336,352.24 $347,213.39
81762P102 SERVICENOW INC US NOW 211.32 $68,910.92
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 14,743.59 $12,237.18
828806109 SIMON PROPERTY GROUP INC US SPG 353.85 $43,551.40
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 9,449.23 $9,452.30
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,717.97 $75,356.51
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 45,878.18 $46,369.41
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 45,906.67 $46,144.52
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 178,093.25 $179,959.02
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 139,085.67 $140,375.65
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,158.95 $40,268.64
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 221,153.91 $229,263.27
835699307 SONY CORP SPONSORED ADR JP SNE 4,147.86 $257,997.17
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 570,085.64 $570,940.77
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 14,743.59 $15,038.47
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,914.53 $5,216.04
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,829.06 $11,151.86
85254J102 STAG INDUSTRIAL INC US STAG 850.21 $23,788.99
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,829.06 $9,743.06
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 248,289.36 $247,019.26
862121100 STORE CAPITAL CORP US STOR 761.75 $25,031.18
866674104 SUN COMMUNITIES US SUI 299.79 $45,831.35
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 9,829.06 $8,846.16
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 781.41 $8,556.44
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 238,890.99 $244,065.84
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,829.06 $6,880.34
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 402,991.57 $457,004.50
882508104 TEXAS INSTRUMENTS INC US TXN 1,159.83 $132,382.93
88579Y101 3M CO US MMM 774.53 $115,590.88
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,252.44 $140,310.13
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 161,891.66 $163,989.05
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 150,334.96 $153,455.53
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 138,873.67 $139,624.50
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,914.53 $4,963.68
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 210,179 $211,956.10
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,025.15 $202,145.95
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,658.13 $18,675.22
902653104 UDR INC US UDR 512.09 $23,034.00
902973304 U.S. BANCORP US USB 2,078.85 $96,541.64
903002103 UMH PROPERTIES INC US UMH 638.89 $9,270.28
904767704 UNILEVER PLC - ADR GB UL 7,245.99 $390,775.98
907818108 UNION PAC CORP US UNP 828.59 $132,416.97
911312106 UNITED PARCEL SERVICE US UPS 1,175.56 $106,376.05
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 1,592,308.17 $1,589,963.08
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 2,093,424.11 $2,385,709.26
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 371,560.1 $427,016.73
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 633,974.55 $817,505.23
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,657,438.44 $1,715,058.03
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,105,533.93 $3,112,290.42
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,631,624.42 $1,691,726.84
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 1,539,231.23 $1,623,107.31
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,567,735.51 $1,670,128.24
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,572,650.04 $1,666,640.45
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 4,020,086.67 $4,035,178.33
913017109 UNITED TECHNOLOGIES CORP US UTX 996.67 $130,154.74
91704F104 URBAN EDGE PROPERTIES US UE 928.85 $15,047.31
918204108 VF CORP US VFC 658.55 $47,415.40
91913Y100 VALERO ENERGY US VLO 706.71 $46,819.51
92276F100 VENTAS INC US VTR 432.48 $23,254.38
92339V100 VEREIT INC US VER 1,774.15 $15,364.10
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 707,692.52 $945,384.32
92826C839 VISA INC - CLASS A SHARES US V 2,103.42 $382,317.52
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,829.06 $9,190.17
929042109 VORNADO REALTY TRUST US VNO 108.12 $5,793.05
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 302,540.79 $308,168.72
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 172,008.6 $172,014.74
931142103 WAL MART STORES US WMT 2,279.36 $245,441.45
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,348.55 $61,709.53
94106L109 WASTE MANAGEMENT INC US WM 690 $76,458.92
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,829.06 $10,222.23
949746101 WELLS FARGO COMPANY US WFC 4,509.57 $184,216.10
95040Q104 WELLTOWER INC. US WELL 514.06 $38,461.97
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 9,829.06 $5,651.71
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 393,162.51 $412,609.52
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 46,392.61 $46,451.55
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 329.27 $16,776.49
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,743.59 $14,153.85
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 270,299.23 $13,694.59
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,435.91 $25,018.37
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 495,384.76 $25,087.37
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 720,470.3 $36,704.34
B63QM77 NEXON CO LTD JP 3659 JP 32,435.91 $512,939.68
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,427.38 $4,916.01
B7KR2P8 EASY JET PLC GB EZJ LN 7,705.99 $111,238.80
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -9.83 -$5,553.42
BBG00RBW6Q94 MU US 02/28/20 C60 US -18.68 -$18.68
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -.98 -$19.66
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -17.69 -$6,192.31
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -9.83 -$5,229.06
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -20.64 -$2,456.28
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 771.58 $9,605.03
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,583.34 $12,941.71
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,231.63 $315,972.77
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 4,285.47 $133,701.96
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,155.13 $182,306.24
G29183103 EATON CORP PLC US ETN 747.99 $67,857.80
G5960L103 MEDTRONIC INC IE MDT 4,149.83 $417,763.42
H01301128 ALCON INC CH ALC 2,358.98 $144,605.17
H1467J104 CHUBB LTD CH CB 471.8 $68,424.43
N47279109 INTERXION HOLDING NV NL INXN 668.38 $56,738.46

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.

Distributions

  • Target Income Series Class R Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • Target 2010 Merger into Target Income – 2015

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

$9.91

Daily $ Change

$0.19

Daily % Change

1.92%

as of 04/06/2020

Ticker

MTDRX

CUSIP

56382P831

Inception Date

03/28/2008

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

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

Investment Objective

To provide capital 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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 02/29/2020

YTD

-0.48%

1 Year

7.83%

3 Year

4.58%

5 Year

3.12%

10 Year

4.64%

Inception
(03/28/2008)

4.43%

Market Cycle

---

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 1.15%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.50%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee.

Top Ten Investments

As of 02/29/2020

GOVERNMENT AGENCY 13.97%
TREASURY NOTES 11.87%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 4.08%
TREASURY BONDS 3.20%
TSY INFL IX N/B 2.00000 01/15/2026 3.12%
TSY INFL IX N/B 0.50000 04/15/2024 2.25%
TREASURY BILLS 2.08%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.30%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.24%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.11%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 02/29/2020

Bonds
74.20%
Stocks
24.67%
Cash
1.13%

Detailed Asset Class Allocation

As of 02/29/2020

International Equities
6.61%
Small Capitalization
0.37%
Mid Capitalization
0.75%
Large Capitalization
16.94%
Long Term Fixed Income
18.63%
Intermediate Term Fixed Income
41.11%
Short Term Fixed Income
14.46%
Cash
1.13%

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

February Fund Holdings

As of 02/29/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,914.53 $5,124.48
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 511,111.26 $576,040.06
00287Y109 ABBVIE INC US ABBV 1,739.74 $149,113.47
004239109 ACADIA REALTY TRUST US AKR 702.78 $16,051.45
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 4,914.53 $4,802.48
00507V109 ACTIVISION INC US ATVI 4,452.57 $258,827.63
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 520,940.33 $574,459.57
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,829.06 $10,345.09
008492100 AGREE REALTY CORP US ADC 186.75 $13,412.54
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 265,384.69 $281,481.88
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 68.8 $10,449.87
01609W102 ALIBABA GROUP - ADR CN BABA 697.86 $145,155.60
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 432,478.76 $465,843.27
02079K107 ALPHABET INC-CL C US GOOG 108.12 $144,807.95
02079K305 ALPHABET INC-CL A US GOOGL 108.12 $144,799.30
023135106 AMAZON.COM INC US AMZN 157.27 $296,247.95
0237400 DIAGEO PLC GB DGE LN 3,336.97 $119,061.56
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 683.12 $29,674.73
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,508.76 $39,061.83
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,658.13 $20,446.31
03027X100 AMERICAN TOWER REIT INC US AMT 638.89 $144,900.04
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 540,598.45 $595,534.76
03064D108 AMERICOLD REALTY TRUST US COLD 923.93 $28,336.99
031162100 AMGEN INC US AMGN 816.8 $163,138.49
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 9,829.06 $6,683.76
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 9,829.06 $6,732.91
03748R754 APARTMENT INVT & MGMT CO -A US AIV 824.66 $39,451.66
043436AT1 ASBURY AUTOMOTIVE GROUP 4.75000 03/01/2030 US 9,829.06 $10,001.07
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 9,829.06 $10,148.51
053484101 AVALONBAY COMMUNITIES INC US AVB 304.7 $61,119.96
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 275,213.76 $277,055.76
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78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,743.59 $15,038.47
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 334,188.13 $335,859.07
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 60,114.1 $60,847.97
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 160,111.93 $161,787.76
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 638,889.08 $741,602.83
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 511,111.26 $568,125.90
806857108 SCHLUMBERGER LTD NL SLB 4,369.02 $118,356.71
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 97,039.55 $99,349.38
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 336,352.24 $347,213.39
81762P102 SERVICENOW INC US NOW 211.32 $68,910.92
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 14,743.59 $12,237.18
828806109 SIMON PROPERTY GROUP INC US SPG 353.85 $43,551.40
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 9,449.23 $9,452.30
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,717.97 $75,356.51
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 45,878.18 $46,369.41
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 45,906.67 $46,144.52
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 178,093.25 $179,959.02
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 139,085.67 $140,375.65
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 40,158.95 $40,268.64
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 221,153.91 $229,263.27
835699307 SONY CORP SPONSORED ADR JP SNE 4,147.86 $257,997.17
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 570,085.64 $570,940.77
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 14,743.59 $15,038.47
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,914.53 $5,216.04
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 9,829.06 $11,151.86
85254J102 STAG INDUSTRIAL INC US STAG 850.21 $23,788.99
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,829.06 $9,743.06
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.12850 11/15/2027 US 248,289.36 $247,019.26
862121100 STORE CAPITAL CORP US STOR 761.75 $25,031.18
866674104 SUN COMMUNITIES US SUI 299.79 $45,831.35
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 9,829.06 $8,846.16
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 781.41 $8,556.44
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 238,890.99 $244,065.84
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,829.06 $6,880.34
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 402,991.57 $457,004.50
882508104 TEXAS INSTRUMENTS INC US TXN 1,159.83 $132,382.93
88579Y101 3M CO US MMM 774.53 $115,590.88
89151E109 TOTAL S A SPONSORED ADR FR TOT 3,252.44 $140,310.13
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 161,891.66 $163,989.05
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 150,334.96 $153,455.53
89177EAA7 TPMT 2019-HY1 A1 2.62675 10/25/2048 US 138,873.67 $139,624.50
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,914.53 $4,963.68
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 210,179 $211,956.10
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,025.15 $202,145.95
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,658.13 $18,675.22
902653104 UDR INC US UDR 512.09 $23,034.00
902973304 U.S. BANCORP US USB 2,078.85 $96,541.64
903002103 UMH PROPERTIES INC US UMH 638.89 $9,270.28
904767704 UNILEVER PLC - ADR GB UL 7,245.99 $390,775.98
907818108 UNION PAC CORP US UNP 828.59 $132,416.97
911312106 UNITED PARCEL SERVICE US UPS 1,175.56 $106,376.05
912796TQ2 TREASURY BILL 0.00000 04/09/2020 US 1,592,308.17 $1,589,963.08
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 2,093,424.11 $2,385,709.26
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 371,560.1 $427,016.73
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 633,974.55 $817,505.23
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,657,438.44 $1,715,058.03
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,105,533.93 $3,112,290.42
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,631,624.42 $1,691,726.84
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 1,539,231.23 $1,623,107.31
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,567,735.51 $1,670,128.24
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,572,650.04 $1,666,640.45
912828YN4 US TREASURY FRN 1.45838 10/31/2021 US 4,020,086.67 $4,035,178.33
913017109 UNITED TECHNOLOGIES CORP US UTX 996.67 $130,154.74
91704F104 URBAN EDGE PROPERTIES US UE 928.85 $15,047.31
918204108 VF CORP US VFC 658.55 $47,415.40
91913Y100 VALERO ENERGY US VLO 706.71 $46,819.51
92276F100 VENTAS INC US VTR 432.48 $23,254.38
92339V100 VEREIT INC US VER 1,774.15 $15,364.10
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 707,692.52 $945,384.32
92826C839 VISA INC - CLASS A SHARES US V 2,103.42 $382,317.52
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,829.06 $9,190.17
929042109 VORNADO REALTY TRUST US VNO 108.12 $5,793.05
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 302,540.79 $308,168.72
93065PAA9 WBHT 2019-WBM A FLT 2.70850 12/15/2033 US 172,008.6 $172,014.74
931142103 WAL MART STORES US WMT 2,279.36 $245,441.45
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,348.55 $61,709.53
94106L109 WASTE MANAGEMENT INC US WM 690 $76,458.92
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 9,829.06 $10,222.23
949746101 WELLS FARGO COMPANY US WFC 4,509.57 $184,216.10
95040Q104 WELLTOWER INC. US WELL 514.06 $38,461.97
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 9,829.06 $5,651.71
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 393,162.51 $412,609.52
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 46,392.61 $46,451.55
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 329.27 $16,776.49
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,743.59 $14,153.85
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 270,299.23 $13,694.59
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,435.91 $25,018.37
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 495,384.76 $25,087.37
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 720,470.3 $36,704.34
B63QM77 NEXON CO LTD JP 3659 JP 32,435.91 $512,939.68
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,427.38 $4,916.01
B7KR2P8 EASY JET PLC GB EZJ LN 7,705.99 $111,238.80
BBG00PR0GMF2 CBOE US 03/20/20 P115 US -9.83 -$5,553.42
BBG00RBW6Q94 MU US 02/28/20 C60 US -18.68 -$18.68
BBG00RCD6MK1 BKNG US 02/28/20 P1650 US -.98 -$19.66
BBG00RKSFKR6 SNE US 03/20/20 P62.5 JP -17.69 -$6,192.31
BBG00RLJMWB8 PYPL US 03/13/20 P107 US -9.83 -$5,229.06
BBG00RVWXGX7 ATVI US 03/20/20 P54 US -20.64 -$2,456.28
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 771.58 $9,605.03
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,583.34 $12,941.71
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,231.63 $315,972.77
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 4,285.47 $133,701.96
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,155.13 $182,306.24
G29183103 EATON CORP PLC US ETN 747.99 $67,857.80
G5960L103 MEDTRONIC INC IE MDT 4,149.83 $417,763.42
H01301128 ALCON INC CH ALC 2,358.98 $144,605.17
H1467J104 CHUBB LTD CH CB 471.8 $68,424.43
N47279109 INTERXION HOLDING NV NL INXN 668.38 $56,738.46

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.

Distributions

  • Target Income Series Class R Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • Target 2010 Merger into Target Income – 2015

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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