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

$10.65

Daily $ Change

-$0.02

Daily % Change

-0.19%

as of 07/09/2020

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 06/30/2020

YTD

2.12%

1 Year

6.01%

3 Year

4.88%

5 Year

4.01%

10 Year

4.87%

Inception
(03/28/2008)

4.52%

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 1.24%
Net 1.15%*

*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 06/30/2020

TREASURY NOTES 9.91%
GOVERNMENT AGENCY 8.70%
TSY INFL IX N/B 2.00000 01/15/2026 3.14%
TSY INFL IX N/B 0.50000 04/15/2024 2.04%
TSY INFL IX N/B 0.12500 04/15/2025 2.04%
TREASURY BONDS 1.56%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.28%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.23%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.19%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.10%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2020

Bonds 68.69%
Stocks 30.60%
Cash 0.71%

Detailed Asset Class Allocation

As of 06/30/2020

International Equities 6.35%
Small Capitalization 0.40%
Mid Capitalization 1.90%
Large Capitalization 21.95%
Long Term Fixed Income 19.56%
Intermediate Term Fixed Income 43.20%
Short Term Fixed Income 5.93%
Cash 0.71%

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

June Fund Holdings

As of 06/30/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 235,441.09 $268,200.77
00287Y109 ABBVIE INC US ABBV 2,148.4 $210,929.90
00507V109 ACTIVISION INC US ATVI 4,404.71 $334,317.51
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 716,133.3 $688,056.22
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,810.05 $9,613.84
008492100 AGREE REALTY CORP US ADC 366.9 $24,108.72
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 264,871.22 $259,785.46
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 255,061.18 $257,392.88
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,715.07 $14,899.01
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 19,620.09 $20,098.43
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 132.44 $21,487.68
01609W102 ALIBABA GROUP - ADR CN BABA 1,329.26 $286,721.63
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 824,043.8 $915,477.38
02079K305 ALPHABET INC-CL A US GOOGL 201.11 $285,178.26
023135106 AMAZON.COM INC US AMZN 181.49 $500,686.76
0237400 DIAGEO PLC GB DGE LN 3,330.51 $110,696.98
02406PBA7 AMERICAN AXLE & MFG INC 6.87500 07/01/2028 US 14,715.07 $14,567.92
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,035.94 $36,216.49
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,505.84 $40,507.15
03027X100 AMERICAN TOWER REIT INC US AMT 637.65 $164,858.79
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 725,943.35 $821,604.50
03064D108 AMERICOLD REALTY TRUST US COLD 1,206.64 $43,800.87
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 24,525.11 $19,374.84
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 24,525.11 $19,374.84
03748R754 APARTMENT INVT & MGMT CO -A US AIV 720.06 $27,102.96
053015103 AUTOMATIC DATA PROCESSING US ADP 549.36 $81,794.59
053484101 AVALONBAY COMMUNITIES INC US AVB 304.11 $47,027.79
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 274,681.27 $221,867.19
060505104 BANK OF AMERICA CORP US BAC 9,231.25 $219,242.25
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 362,971.67 $400,849.59
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,466.6 $261,803.08
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,756 $216,584.80
09857L108 BOOKING HOLDINGS INC US BKNG 93.2 $148,398.81
101121101 BOSTON PROPERTIES INC US BXP 118.7 $10,728.25
105368203 BRANDYWINE REALTY TRUST US BDN 1,937.48 $21,099.20
110122108 BRISTOL MYERS SQUIBB CO US BMY 3,341.3 $196,468.52
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 78,480.36 $1,569.61
12503M108 CBOE GLOBAL MARKETS INC US CBOE 2,266.12 $211,383.72
12555DAA3 CIM 2019-INV1 A1 3.84515 02/25/2049 US 67,099.24 $69,022.70
12572Q105 CME GROUP INC US CME 706.32 $114,805.78
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 103,706.08 $107,053.43
12653CAC2 CNX RESOURCES CORP 7.25000 03/14/2027 US 9,810.05 $9,025.24
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 4,905.02 $4,512.62
127097103 CABOT OIL & GAS CORP US COG 23,132.09 $397,409.25
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,810.05 $9,466.69
133131102 CAMDEN PROPERTY TRUST US CPT 554.27 $50,560.29
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 529,742.44 $573,085.14
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 958.44 $84,889.16
14180LAA4 CARGO AIRCRAFT MANAGEMENT 4.75000 02/01/2028 US 24,525.11 $24,310.52
143905AN7 CARRIAGE SERVICES INC 6.62500 06/01/2026 US 14,715.07 $15,469.22
149123101 CATERPILLAR INC US CAT 964.33 $121,987.42
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 126,132.82 $125,012.49
15135UAF6 CENOVUS ENERGY INC 6.75000 11/15/2039 CA 14,715.07 $14,327.51
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 519.93 $265,186.32
16411QAD3 CHENIERE ENERGY PARTNERS 5.62500 10/01/2026 US 24,525.11 $24,402.49
166764100 CHEVRON CORP US CVX 642.56 $57,335.45
17275R102 CISCO SYSTEMS INC US CSCO 5,372.96 $250,594.94
172967424 CITIGROUP INC US C 2,770.36 $141,565.23
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 627,842.89 $716,787.68
191216100 COCA COLA CO/THE US KO 7,494.87 $334,870.99
194162103 COLGATE-PALMOLIVE CO US CL 1,818.78 $133,244.00
20030N101 COMCAST CORP-CL A US CMCSA 4,175.16 $162,747.55
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 578,792.67 $642,050.43
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 247,403.38 $256,920.22
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 603.32 $24,675.70
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 14,715.07 $15,450.82
20605P101 CONCHO RESOURCES INC US CXO 3,659.15 $188,446.06
20825C104 CONOCOPHILLIPS US COP 2,638.9 $110,886.67
217204106 COPART INC US CPRT 1,657.9 $138,053.14
21870Q105 CORESITE REALTY CORP US COR 107.91 $13,063.64
222795502 COUSINS PROPERTIES INC US CUZ 1,492.11 $44,509.58
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 284,491.31 $289,238.42
22822V101 CROWN CASTLE INTL CORP US CCI 299.21 $50,072.19
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 568,982.62 $609,942.92
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 186,390.86 $205,002.30
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 65,354.97 $66,971.87
247361ZZ4 DELTA AIR LINES INC 7.37500 01/15/2026 US 24,525.11 $23,725.55
25243Q205 DIAGEO PLC-SPONSORED ADR GB DEO 699.46 $93,999.92
253868103 DIGITAL REALTY TRUST INC US DLR 470.88 $66,917.07
254687FW1 WALT DISNEY COMPANY/THE 2.20000 01/13/2028 US 235,441.09 $245,807.55
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 539,552.49 $627,726.09
256746108 DOLLAR TREE STORES INC US DLTR 1,618.66 $150,017.17
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 362,971.67 $400,659.20
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 29,430.14 $28,991.33
25960P109 DOUGLAS EMMETT INC US DEI 951.57 $29,175.27
262006208 DREYFUS GVT CSH MANAGEMENT US 550,394.1 $550,394.10
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 9,810.05 $10,300.55
264411505 DUKE RLTY INVTS INC US DRE 1,004.55 $35,550.98
26875P101 EOG RESOURCES INC US EOG 2,795.86 $141,638.41
26884L109 EQT CORP US EQT 10,673.33 $127,012.62
26884LAG4 EQT CORP 7.00000 02/01/2030 US 14,715.07 $15,156.96
277276101 EASTGROUP PROPERTIES US EGP 116.74 $13,846.48
285512109 ELECTRONIC ARTS US EA 1,927.67 $254,549.34
291011104 EMERSON ELEC CO US EMR 1,424.42 $88,356.68
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 647,462.98 $701,355.45
29444U700 EQUINIX INC US EQIX 600.37 $421,643.20
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 730.85 $45,663.41
29476L107 EQUITY RESIDENTIAL US EQR 451.26 $26,543.24
297178105 ESSEX PROPERTY TRUST INC US ESS 67.69 $15,512.36
30212P303 EXPEDIA INC US EXPE 4,664.68 $383,436.41
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 245,251.13 $261,259.45
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 981,004.52 $989,107.62
30225T102 EXTRA SPACE STORAGE INC US EXR 127.53 $11,780.00
30231G102 EXXON MOBIL CORP US XOM 2,992.06 $133,805.09
302491303 FMC CORP US FMC 1,657.9 $165,159.76
30262DAL5 FREMF 2011-K13 B 4.76773 01/25/2048 US 315,396.88 $319,639.07
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 14,715.07 $12,544.60
30287EAE0 FREMF 2014-K41 B FLT 3.96333 11/25/2047 US 267,814.23 $287,778.61
30291YAJ9 FREMF 2014-K716 B FLT 4.08103 08/25/2047 US 442,433.04 $450,816.30
30303M102 FACEBOOK INC -A US FB 1,275.31 $289,583.71
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 28,577.06 $33,304.05
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 28,592.73 $32,800.73
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 25,529.85 $29,283.05
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 94,366.96 $103,472.44
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 98,651.34 $109,578.93
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 114,748 $127,591.12
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 136,221.62 $147,381.60
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 165,174.47 $179,489.74
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 71,271.53 $76,846.22
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 89,830.21 $99,882.59
3133A6DB4 FEDERAL NATL MTG ASSN FR QB0098 2.50000 06/01/2050 US 749,143.66 $781,057.42
3136AY6W8 FNA 2017-M15 A1 FLT 3.05797 09/25/2027 US 253,897.96 $276,667.53
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 193,148.53 $200,362.69
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 195,519.88 $199,687.58
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 132,857.84 $135,056.04
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 66,916.4 $78,116.11
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 58,494.42 $64,206.96
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 116,767.82 $136,767.40
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 517,071.96 $565,101.98
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 75,492.68 $83,019.59
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 69,433.52 $74,173.30
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 54,239.16 $58,672.57
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 257,535.63 $270,615.46
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 2,862.69 $2,893.81
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 3,148.12 $3,184.26
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 61,995.18 $71,127.31
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 65,142.87 $74,740.08
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 77,644.39 $86,305.86
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 56,439.53 $61,869.20
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 68,180.69 $74,740.55
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 293,610.73 $310,095.23
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 183,051.61 $193,708.87
31418DNN8 FEDERAL NATL MTG ASSN FN MA3996 2.50000 04/01/2050 US 204,390.79 $210,696.58
31418DQ21 FEDERAL NATL MTG ASSN FN MA4072 2.50000 07/01/2040 US 564,077.6 $588,432.75
31418DQG0 FEDERAL NATL MTG ASSN FN MA4054 2.50000 06/01/2040 US 1,007,089.58 $1,050,570.99
31418DQZ8 FEDERAL NATL MTG ASSN FN MA4071 2.00000 07/01/2040 US 573,887.65 $589,309.59
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 33,189.97 $38,119.30
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 39,307.83 $45,815.41
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 34,335.16 $37,081.97
32054K103 FIRST INDUSTRIAL REALTY TR US FR 681.8 $26,208.32
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 24,525.11 $23,176.23
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 284,491.31 $285,691.61
345370CX6 FORD MOTOR COMPANY 9.62500 04/22/2030 US 39,240.18 $46,472.15
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 24,525.11 $24,034.61
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 29,430.14 $26,493.30
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 19,620.09 $19,056.01
36257MAA3 GSMS 2019-70P A 1.18475 10/15/2036 US 255,061.18 $247,719.11
369550108 GENERAL DYNAMICS CORP US GD 514.05 $76,829.37
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 490,502.26 $383,121.51
370334104 GENERAL MLS INC US GIS 1,627.49 $100,334.54
37185LAL6 GENESIS ENERGY LP/FIN 7.75000 02/01/2028 US 9,810.05 $8,730.94
374297109 GETTY REALTY CORP US GTY 637.65 $18,925.54
375558103 GILEAD SCIENCES INC US GILD 2,374.03 $182,657.94
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 245,251.13 $259,645.56
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 271,937.54 $284,072.22
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 21,130.84 $295,620.42
4031976 ADIDAS AG DE ADS GR 603.32 $159,065.06
404119BX6 HCA INC 4.12500 06/15/2029 US 431,641.99 $476,138.91
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 5,886.03 $5,606.44
418751AB9 HAT HOLDINGS I LLC 6.00000 04/15/2025 US 24,525.11 $25,690.06
421946104 HEALTHCARE REALTY TRUST INC US HR 431.64 $12,642.79
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 441.45 $11,707.31
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,285.12 $35,417.79
427866108 HERSHEY CO/THE US HSY 476.77 $61,798.69
431571AB4 HILLENBRAND INC 4.50000 09/15/2026 US 24,525.11 $24,624.69
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 245.25 $18,013.70
436106AA6 HOLLYFRONTIER CORP 5.87500 04/01/2026 US 24,525.11 $26,914.17
437076102 HOME DEPOT INC US HD 1,204.67 $301,782.77
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 3,664.05 $93,653.17
438516106 HONEYWELL INTERNATIONAL INC US HON 1,093.82 $158,155.44
44107P104 HOST MARRIOTT CORP US HST 868.19 $9,367.76
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 24,525.11 $26,606.33
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 14,715.07 $15,218.32
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 29,430.14 $29,583.47
452308109 ILLINOIS TOOL WKS INC US ITW 622.94 $108,920.69
45337C102 INCYTE CORP US INCY 892.71 $92,815.49
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 14,715.07 $13,685.01
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,810.05 $8,853.57
45778Q107 INSPERITY INC US NSP 1,245.88 $80,645.54
458140100 INTEL CORP US INTC 4,384.11 $262,301.25
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,530.37 $140,181.62
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,359.67 $164,207.62
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 34,335.16 $35,858.95
46187BAA1 IHSFR 2017-SFR2 A 1.04388 12/17/2036 US 71,585.61 $70,702.86
46187BAB9 IHSFR 2017-SFR2 B 1.34388 12/17/2036 US 58,860.27 $58,602.56
46187W107 INVITATION HOMES INC US INVH 2,135.65 $58,794.36
46284VAL5 IRON MOUNTAIN INC 5.62500 07/15/2032 US 14,715.07 $14,684.17
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 196,200.9 $198,645.64
46625H100 JP MORGAN CHASE & CO US JPM 2,519.22 $236,957.80
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 59,163.66 $61,892.13
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 78,917.5 $80,981.84
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 637,652.94 $676,284.19
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 185,774.53 $190,066.41
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 178,871.78 $181,603.87
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 192,121.54 $194,997.37
476405105 JERNIGAN CAPITAL INC US JCAP 1,309.64 $17,915.89
478160104 JOHNSON & JOHNSON US JNJ 4,865.78 $684,274.98
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 14,715.07 $1,802.60
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 14,715.07 $15,671.55
49271VAJ9 KEURIG DR PEPPER INC 3.20000 05/01/2030 US 559,172.58 $622,067.17
49427F108 KILROY REALTY CORP US KRC 657.27 $38,581.93
494368103 KIMBERLY CLARK CORP US KMB 651.39 $92,073.55
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 451,262.08 $604,763.89
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 24,525.11 $24,954.30
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 24,525.11 $21,145.55
512816109 LAMAR ADVERTISING CO-A US LAMR 186.39 $12,443.45
516806AG1 LAREDO PETROLEUM INC 10.12500 01/15/2028 US 9,810.05 $6,768.93
53223X107 LIFE STORAGE INC US LSI 112.82 $10,711.83
532457108 ELI LILLY & CO US LLY 924.11 $151,719.77
539830109 LOCKHEED MARTIN CORP US LMT 478.73 $174,698.23
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 29,430.14 $2,795.86
550021109 LULULEMON - ADR CA LULU 465.98 $145,389.53
552697AQ7 MDC PARTNERS INC 6.50000 05/01/2024 CA 14,715.07 $13,685.01
573284106 MARTIN MARIETTA MATERIALS US MLM 358.07 $73,965.83
57636Q104 MASTERCARD INC-CLASS A US MA 2,369.13 $700,550.53
58933Y105 MERCK & CO INC US MRK 3,109.78 $240,479.62
59001KAG5 MERITOR INC 6.25000 06/01/2025 US 14,715.07 $14,862.22
594918104 MICROSOFT CORP US MSFT 1,643.18 $334,404.09
595112103 MICRON TECHNOLOGY INC US MU 7,642.03 $393,717.14
59522J103 MID-AMERICA APARTMENT COMM US MAA 309.02 $35,434.91
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,854.9 $401,621.20
615369105 MOODY'S CORPORATION US MCO 456.17 $125,322.79
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 14,715.07 $7,357.53
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 9,810.05 $5,444.58
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 14,715.07 $12,213.51
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 24,525.11 $23,390.83
63938EAC8 NAVSL 2014-1 A3 FLT 0.69450 06/25/2031 US 249,738.69 $240,099.30
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MH 9,810.05 $10,128.87
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 95,768.52 $96,386.05
63941RAB6 NAVSL 2019-2A A2 1.18450 02/27/2068 US 539,552.49 $542,625.13
64032XAA3 NSLT 2012-3A A MTGE FLT 0.88450 02/25/2045 US 257,576.22 $250,541.94
64033GAA9 NSLT 2013-5A A MTGE FLT 0.81450 01/25/2037 US 255,295.54 $242,439.37
64033QAB5 NSLT 2015-2A A2 0.78450 09/25/2047 US 535,478.12 $514,498.95
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 66,416.61 $70,888.27
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 74,272.25 $79,645.29
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 102,524.14 $108,964.38
654106AJ2 NIKE INC 2.75000 03/27/2027 US 137,340.63 $151,289.33
6642321 NIKON CORP JP 7731 JP 17,069.48 $143,355.02
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 73,575.34 $754.15
66987V109 NOVARTIS AG- REG CH NVS 5,130.65 $448,111.29
67401PAB4 OAKTREE SPECIALTY LEND 3.50000 02/25/2025 US 14,715.07 $14,376.28
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 9,810.05 $9,797.78
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 24,525.11 $17,167.58
68389X105 ORACLE CORP US ORCL 2,842.95 $157,129.91
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 250,156.15 $253,959.83
69318FAH1 PBF HOLDING CO LLC 6.00000 02/15/2028 US 14,715.07 $12,213.51
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 10,791.05 $9,819.86
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 220,346.9 $232,122.74
693475105 PNC FINANCIAL SERVICES GROUP US PNC 589.58 $62,030.10
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,976.72 $344,404.64
7123870 NESTLE SA-REGISTERED CH NESN SW 2,717.38 $301,277.90
713448108 PEPSICO INC US PEP 1,088.92 $144,019.90
717081103 PFIZER INC US PFE 6,982.79 $228,337.24
717081EW9 PFIZER INC 2.62500 04/01/2030 US 156,960.72 $172,911.04
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 19,620.09 $18,516.46
71943U104 PHYSICIANS REALTY TRUST US DOC 794.61 $13,921.63
71953LAA9 PICASSO FINANCE SUB INC 6.12500 06/15/2025 US 24,525.11 $25,076.93
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,261.22 $220,920.75
73179PAM8 POLYONE CORP 5.75000 05/15/2025 US 14,715.07 $15,138.13
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 14,715.07 $14,862.22
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 774,993.57 $850,492.89
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 24,525.11 $23,114.92
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 146,877.29 $147,503.06
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 274,505.86 $283,234.30
74340W103 PROLOGIS US PLD 1,583.34 $147,773.24
74460D109 PUBLIC STORAGE INC US PSA 245.25 $47,061.24
747525103 QUALCOMM INC US QCOM 1,340.05 $122,226.16
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 34,335.16 $32,275.05
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 2,282.8 $140,665.98
756109104 REALTY INCOME CORP US O 269.78 $16,051.69
758849103 REGENCY CENTERS CORP US REG 294.3 $13,505.49
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 843.66 $34,952.99
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,079.11 $32,858.75
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 3,099.97 $205,652.29
78409V104 S&P GLOBAL INC US SPGI 372.78 $122,824.12
78410G104 SBA COMMUNICATIONS CORP US SBAC 578.79 $172,433.91
78442GQJ8 SLMA 2005-7 A4 FLT 1.14138 10/25/2029 US 258,563.07 $253,631.99
78442PGC4 SLM CORP 5.12500 04/05/2022 US 24,525.11 $24,279.86
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 333,541.54 $339,749.81
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 49,391.92 $50,189.23
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 122,748.16 $124,256.03
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 716,133.3 $841,456.63
79466L302 SALESFORCE.COM US CRM 1,255.69 $235,227.62
806857108 SCHLUMBERGER LTD NL SLB 4,360.57 $80,190.79
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 14,715.07 $14,627.66
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 421,833.01 $441,156.80
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 86,380.2 $90,162.22
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 289,184.52 $297,174.77
81762P102 SERVICENOW INC US NOW 402.21 $162,919.93
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 70,014.66 $71,567.37
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 37,014.49 $37,351.93
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 196,200.9 $202,858.43
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 17,742.73 $17,780.21
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 134,901.84 $136,774.00
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 103,117.62 $104,470.65
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 17,456.48 $17,494.43
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 220,726.02 $228,726.96
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 519,932.4 $548,866.08
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 24,525.11 $25,383.25
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 19,620.09 $22,153.83
85254J102 STAG INDUSTRIAL INC US STAG 618.03 $18,120.72
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 24,525.11 $22,317.85
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,810.05 $9,638.37
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.65475 11/15/2027 US 247,808.96 $189,308.26
862121100 STORE CAPITAL CORP US STOR 510.12 $12,146.01
866674104 SUN COMMUNITIES US SUI 475.79 $64,554.81
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 966.29 $7,875.26
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 223,788.27 $225,571.19
87105L104 SWITCH INC - A US SWCH 900.56 $16,048.02
872540AR0 TJX COS INC 3.50000 04/15/2025 US 362,971.67 $404,042.49
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 24,525.11 $24,525.11
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,810.05 $2,182.74
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 568,982.62 $637,747.16
88146M101 TERRENO REALTY CORP US TRNO 259.97 $13,684.62
882508104 TEXAS INSTRUMENTS INC US TXN 1,448.94 $183,972.38
883556102 THERMO FISHER SCIENTIFIC INC US TMO 461.07 $167,064.87
88579Y101 3M CO US MMM 940.78 $146,752.79
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,932.76 $266,633.91
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 147,834.88 $150,362.62
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 135,876.23 $139,029.94
89177EAA7 TPMT 2019-HY1 A1 1.18450 10/25/2048 US 126,606.79 $126,012.23
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 24,525.11 $21,091.60
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 206,894.17 $207,788.42
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,330.24 $203,012.34
89832Q109 TRUIST FINANCIAL CORP US TFC 2,582 $96,954.25
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 44,145.2 $42,048.31
902653104 UDR INC US UDR 496.39 $18,554.99
902973304 U.S. BANCORP US USB 2,694.82 $99,223.25
904767704 UNILEVER PLC - ADR GB UL 12,283.16 $674,099.69
907818108 UNION PAC CORP US UNP 1,042.81 $176,307.52
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 2,084,613.13 $2,422,570.46
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,500,890.71 $1,577,398.85
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,422,456.56 $1,524,417.80
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 1,119,326.16 $1,200,083.80
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,397,931.44 $1,520,960.33
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,397,931.44 $1,522,216.29
912828YN4 US TREASURY FRN FLT 0.45006 10/31/2021 US 3,072,506.16 $3,082,254.37
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 1,504,436.16 $1,576,060.77
91704F104 URBAN EDGE PROPERTIES US UE 1,206.64 $14,322.76
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 98,100.45 $99,576.25
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 706,323.26 $945,598.32
92826C839 VISA INC - CLASS A SHARES US V 3,119.59 $602,612.05
92826CAK8 VISA INC 2.70000 04/15/2040 US 618,032.85 $661,315.13
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 14,715.07 $13,243.56
92840VAG7 VISTRA OPERATIONS CO LLC 3.70000 01/30/2027 US 14,715.07 $15,154.01
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 367,876.7 $392,611.19
929160109 VULCAN MATERIALS CO US VMC 1,211.54 $140,356.98
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 298,142 $301,811.83
93065PAA9 WBHT 2019-WBM A FLT 1.23475 12/15/2033 US 171,675.79 $160,495.20
931142103 WAL MART STORES US WMT 2,095.43 $250,990.09
94106L109 WASTE MANAGEMENT INC US WM 860.34 $91,118.71
949746101 WELLS FARGO COMPANY US WFC 5,718.28 $146,387.85
95040Q104 WELLTOWER INC. US WELL 676.89 $35,029.22
95081QAP9 WESCO DISTRIBUTION INC 7.25000 06/15/2028 US 14,715.07 $15,561.18
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 24,525.11 $25,187.54
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 78,480.36 $15,107.47
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 510,122.35 $546,144.02
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 15,034.82 $15,060.11
98212BAM5 WPX ENERGY 5.87500 06/15/2028 US 9,810.05 $9,426.96
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 671.01 $28,598.32
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 269,776.24 $11,925.35
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,373.15 $24,976.16
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 494,426.28 $22,238.80
B63QM77 NEXON CO LTD JP 3659 JP 21,287.8 $480,176.72
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,252.42 $4,437.33
BBG00V0BGWX2 EOG US 07/02/20 P46 US -24.53 -$122.63
BBG00V0C53Z4 EXPE US 07/02/20 P76.5 US -14.72 -$588.60
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 11,394.37 $14,385.40
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 137,340.63 $162,007.88
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,336.66 $341,962.33
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,443.33 $169,742.90
G1151C101 ACCENTURE PLC - CL A IE ACN 669.05 $143,657.36
G29183103 EATON CORP PLC US ETN 915.28 $80,068.45
G5494J103 LINDE PLC GB LIN 595.47 $126,305.09
G5960L103 MEDTRONIC INC IE MDT 3,361.9 $308,286.46
H01301128 ALCON INC CH ALC 2,354.41 $134,954.83
H1467J104 CHUBB LTD CH CB 731.83 $92,664.24

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 2020 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

$10.65

Daily $ Change

-$0.02

Daily % Change

-0.19%

as of 07/09/2020

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 06/30/2020

YTD

2.12%

1 Year

6.01%

3 Year

4.88%

5 Year

4.01%

10 Year

4.87%

Inception
(03/28/2008)

4.52%

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 1.24%
Net 1.15%*

*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 06/30/2020

TREASURY NOTES 9.91%
GOVERNMENT AGENCY 8.70%
TSY INFL IX N/B 2.00000 01/15/2026 3.14%
TSY INFL IX N/B 0.50000 04/15/2024 2.04%
TSY INFL IX N/B 0.12500 04/15/2025 2.04%
TREASURY BONDS 1.56%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.28%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.23%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.19%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.10%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2020

Bonds
68.69%
Stocks
30.60%
Cash
0.71%

Detailed Asset Class Allocation

As of 06/30/2020

International Equities
6.35%
Small Capitalization
0.40%
Mid Capitalization
1.90%
Large Capitalization
21.95%
Long Term Fixed Income
19.56%
Intermediate Term Fixed Income
43.20%
Short Term Fixed Income
5.93%
Cash
0.71%

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

June Fund Holdings

As of 06/30/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 235,441.09 $268,200.77
00287Y109 ABBVIE INC US ABBV 2,148.4 $210,929.90
00507V109 ACTIVISION INC US ATVI 4,404.71 $334,317.51
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 716,133.3 $688,056.22
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,810.05 $9,613.84
008492100 AGREE REALTY CORP US ADC 366.9 $24,108.72
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 264,871.22 $259,785.46
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 255,061.18 $257,392.88
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,715.07 $14,899.01
013822AC5 ALCOA NEDERLAND HOLDING 6.12500 05/15/2028 NL 19,620.09 $20,098.43
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 132.44 $21,487.68
01609W102 ALIBABA GROUP - ADR CN BABA 1,329.26 $286,721.63
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 824,043.8 $915,477.38
02079K305 ALPHABET INC-CL A US GOOGL 201.11 $285,178.26
023135106 AMAZON.COM INC US AMZN 181.49 $500,686.76
0237400 DIAGEO PLC GB DGE LN 3,330.51 $110,696.98
02406PBA7 AMERICAN AXLE & MFG INC 6.87500 07/01/2028 US 14,715.07 $14,567.92
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,035.94 $36,216.49
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,505.84 $40,507.15
03027X100 AMERICAN TOWER REIT INC US AMT 637.65 $164,858.79
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 725,943.35 $821,604.50
03064D108 AMERICOLD REALTY TRUST US COLD 1,206.64 $43,800.87
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 24,525.11 $19,374.84
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71953LAA9 PICASSO FINANCE SUB INC 6.12500 06/15/2025 US 24,525.11 $25,076.93
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,261.22 $220,920.75
73179PAM8 POLYONE CORP 5.75000 05/15/2025 US 14,715.07 $15,138.13
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 14,715.07 $14,862.22
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 774,993.57 $850,492.89
74166MAE6 PRIME SECSRVC BRW/FINANC 6.25000 01/15/2028 US 24,525.11 $23,114.92
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 146,877.29 $147,503.06
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 274,505.86 $283,234.30
74340W103 PROLOGIS US PLD 1,583.34 $147,773.24
74460D109 PUBLIC STORAGE INC US PSA 245.25 $47,061.24
747525103 QUALCOMM INC US QCOM 1,340.05 $122,226.16
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 34,335.16 $32,275.05
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 2,282.8 $140,665.98
756109104 REALTY INCOME CORP US O 269.78 $16,051.69
758849103 REGENCY CENTERS CORP US REG 294.3 $13,505.49
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 843.66 $34,952.99
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,079.11 $32,858.75
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 3,099.97 $205,652.29
78409V104 S&P GLOBAL INC US SPGI 372.78 $122,824.12
78410G104 SBA COMMUNICATIONS CORP US SBAC 578.79 $172,433.91
78442GQJ8 SLMA 2005-7 A4 FLT 1.14138 10/25/2029 US 258,563.07 $253,631.99
78442PGC4 SLM CORP 5.12500 04/05/2022 US 24,525.11 $24,279.86
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 333,541.54 $339,749.81
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 49,391.92 $50,189.23
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 122,748.16 $124,256.03
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 716,133.3 $841,456.63
79466L302 SALESFORCE.COM US CRM 1,255.69 $235,227.62
806857108 SCHLUMBERGER LTD NL SLB 4,360.57 $80,190.79
808625AA5 SCIENCE APPLICATIONS INT 4.87500 04/01/2028 US 14,715.07 $14,627.66
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 421,833.01 $441,156.80
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 86,380.2 $90,162.22
81748MAA6 SEMT 2020-1 A1 3.50000 02/25/2050 US 289,184.52 $297,174.77
81762P102 SERVICENOW INC US NOW 402.21 $162,919.93
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 70,014.66 $71,567.37
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 37,014.49 $37,351.93
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 196,200.9 $202,858.43
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 17,742.73 $17,780.21
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 134,901.84 $136,774.00
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 103,117.62 $104,470.65
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 17,456.48 $17,494.43
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 220,726.02 $228,726.96
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 519,932.4 $548,866.08
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 24,525.11 $25,383.25
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 19,620.09 $22,153.83
85254J102 STAG INDUSTRIAL INC US STAG 618.03 $18,120.72
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 24,525.11 $22,317.85
85571BAP0 STARWOOD PROPERTY TRUST 3.62500 02/01/2021 US 9,810.05 $9,638.37
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.65475 11/15/2027 US 247,808.96 $189,308.26
862121100 STORE CAPITAL CORP US STOR 510.12 $12,146.01
866674104 SUN COMMUNITIES US SUI 475.79 $64,554.81
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 966.29 $7,875.26
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 223,788.27 $225,571.19
87105L104 SWITCH INC - A US SWCH 900.56 $16,048.02
872540AR0 TJX COS INC 3.50000 04/15/2025 US 362,971.67 $404,042.49
87422VAJ7 TALEN ENERGY SUPPLY LLC 7.62500 06/01/2028 US 24,525.11 $24,525.11
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,810.05 $2,182.74
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 568,982.62 $637,747.16
88146M101 TERRENO REALTY CORP US TRNO 259.97 $13,684.62
882508104 TEXAS INSTRUMENTS INC US TXN 1,448.94 $183,972.38
883556102 THERMO FISHER SCIENTIFIC INC US TMO 461.07 $167,064.87
88579Y101 3M CO US MMM 940.78 $146,752.79
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,932.76 $266,633.91
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 147,834.88 $150,362.62
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 135,876.23 $139,029.94
89177EAA7 TPMT 2019-HY1 A1 1.18450 10/25/2048 US 126,606.79 $126,012.23
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 24,525.11 $21,091.60
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 206,894.17 $207,788.42
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,330.24 $203,012.34
89832Q109 TRUIST FINANCIAL CORP US TFC 2,582 $96,954.25
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 44,145.2 $42,048.31
902653104 UDR INC US UDR 496.39 $18,554.99
902973304 U.S. BANCORP US USB 2,694.82 $99,223.25
904767704 UNILEVER PLC - ADR GB UL 12,283.16 $674,099.69
907818108 UNION PAC CORP US UNP 1,042.81 $176,307.52
912810FS2 TSY INFL IX N/B 2.00000 01/15/2026 US 2,084,613.13 $2,422,570.46
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,500,890.71 $1,577,398.85
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,422,456.56 $1,524,417.80
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 1,119,326.16 $1,200,083.80
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,397,931.44 $1,520,960.33
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 1,397,931.44 $1,522,216.29
912828YN4 US TREASURY FRN FLT 0.45006 10/31/2021 US 3,072,506.16 $3,082,254.37
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 1,504,436.16 $1,576,060.77
91704F104 URBAN EDGE PROPERTIES US UE 1,206.64 $14,322.76
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 98,100.45 $99,576.25
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 706,323.26 $945,598.32
92826C839 VISA INC - CLASS A SHARES US V 3,119.59 $602,612.05
92826CAK8 VISA INC 2.70000 04/15/2040 US 618,032.85 $661,315.13
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 14,715.07 $13,243.56
92840VAG7 VISTRA OPERATIONS CO LLC 3.70000 01/30/2027 US 14,715.07 $15,154.01
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 367,876.7 $392,611.19
929160109 VULCAN MATERIALS CO US VMC 1,211.54 $140,356.98
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 298,142 $301,811.83
93065PAA9 WBHT 2019-WBM A FLT 1.23475 12/15/2033 US 171,675.79 $160,495.20
931142103 WAL MART STORES US WMT 2,095.43 $250,990.09
94106L109 WASTE MANAGEMENT INC US WM 860.34 $91,118.71
949746101 WELLS FARGO COMPANY US WFC 5,718.28 $146,387.85
95040Q104 WELLTOWER INC. US WELL 676.89 $35,029.22
95081QAP9 WESCO DISTRIBUTION INC 7.25000 06/15/2028 US 14,715.07 $15,561.18
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 24,525.11 $25,187.54
966387AH5 WHITING PETROLEUM CORP 5.75000 03/15/2021 US 78,480.36 $15,107.47
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 510,122.35 $546,144.02
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 15,034.82 $15,060.11
98212BAM5 WPX ENERGY 5.87500 06/15/2028 US 9,810.05 $9,426.96
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 671.01 $28,598.32
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 269,776.24 $11,925.35
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,373.15 $24,976.16
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 494,426.28 $22,238.80
B63QM77 NEXON CO LTD JP 3659 JP 21,287.8 $480,176.72
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,252.42 $4,437.33
BBG00V0BGWX2 EOG US 07/02/20 P46 US -24.53 -$122.63
BBG00V0C53Z4 EXPE US 07/02/20 P76.5 US -14.72 -$588.60
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 11,394.37 $14,385.40
BJVB695 BUONI POLIENNALI DEL TES 2.45000 09/01/2050 IT 137,340.63 $162,007.88
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,336.66 $341,962.33
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,443.33 $169,742.90
G1151C101 ACCENTURE PLC - CL A IE ACN 669.05 $143,657.36
G29183103 EATON CORP PLC US ETN 915.28 $80,068.45
G5494J103 LINDE PLC GB LIN 595.47 $126,305.09
G5960L103 MEDTRONIC INC IE MDT 3,361.9 $308,286.46
H01301128 ALCON INC CH ALC 2,354.41 $134,954.83
H1467J104 CHUBB LTD CH CB 731.83 $92,664.24

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 2020 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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