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

$10.45

Daily $ Change

$0.03

Daily % Change

0.29%

as of 12/11/2019

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

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

Performance

As of 11/30/2019

YTD

11.72%

1 Year

9.48%

3 Year

5.63%

5 Year

3.17%

10 Year

4.68%

Inception
(03/28/2008)

4.48%

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 11/30/2019

GOVERNMENT AGENCY 13.69%
TREASURY NOTES 12.80%
TREASURY BONDS 7.06%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.96%
TSY INFL IX N/B 0.50000 04/15/2024 1.94%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.26%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.14%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.06%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.04%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.93%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2019

Bonds 71.97%
Stocks 27.77%
Cash 0.26%

Detailed Asset Class Allocation

As of 11/30/2019

International Equities 7.17%
Small Capitalization 0.25%
Mid Capitalization 1.02%
Large Capitalization 19.33%
Long Term Fixed Income 16.07%
Intermediate Term Fixed Income 42.85%
Short Term Fixed Income 13.05%
Cash 0.26%

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

November Fund Holdings

As of 11/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,936.95 $5,233.17
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 513,442.63 $561,709.32
00287Y109 ABBVIE INC US ABBV 1,747.68 $153,323.94
004239109 ACADIA REALTY TRUST US AKR 291.28 $7,829.61
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,810.85 $13,281.18
00507V109 ACTIVISION INC US ATVI 4,472.88 $245,247.75
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 523,316.53 $563,228.33
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 14,810.85 $14,551.66
008492100 AGREE REALTY CORP US ADC 172.79 $12,921.48
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 562,812.12 $583,223.57
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 9,873.9 $10,071.37
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 69.12 $11,232.94
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 434,451.46 $451,171.80
02079K107 ALPHABET INC-CL C US GOOG 177.73 $231,930.73
02079K305 ALPHABET INC-CL A US GOOGL 172.79 $225,337.88
023135106 AMAZON.COM INC US AMZN 157.98 $284,494.61
02319V103 AMBEV SA-ADR BR ABEV 15,166.31 $63,850.15
0237400 DIAGEO PLC GB DGE LN 3,352.19 $136,958.83
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 483.82 $23,242.76
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,515.64 $40,482.83
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,747.79 $20,141.13
03027X100 AMERICAN TOWER REIT INC US AMT 641.8 $137,365.16
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 543,064.32 $579,120.09
03064D108 AMERICOLD REALTY TRUST US COLD 903.46 $33,988.22
031162100 AMGEN INC US AMGN 820.52 $192,592.65
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 9,873.9 $7,800.38
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 9,873.9 $7,627.59
03748R754 APARTMENT INVT & MGMT CO -A US AIV 788.92 $42,420.46
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 9,873.9 $10,009.66
053484101 AVALONBAY COMMUNITIES INC US AVB 281.41 $60,336.27
060505104 BANK OF AMERICA CORP US BAC 5,899.65 $196,576.45
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 770,163.95 $819,540.79
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,742.74 $383,926.23
088606108 BHP GROUP LTD AU BHP 2,619.54 $134,985.14
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,419.1 $195,245.94
09247X101 BLACKROCK INC US BLK 157.98 $78,187.04
097023105 BOEING CO US BA 518.38 $189,820.24
09857L108 BOOKING HOLDINGS INC US BKNG 74.05 $141,001.47
101121101 BOSTON PROPERTIES INC US BXP 247.83 $34,335.03
105368203 BRANDYWINE REALTY TRUST US BDN 2,206.82 $34,051.17
110122108 BRISTOL MYERS SQUIBB CO US BMY 2,038.96 $116,098.36
11135F101 BROADCOM INC US AVGO 404.83 $128,011.22
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,873.9 $6,319.29
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 9,873.9 $9,355.52
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,293.48 $153,794.83
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 90,778.84 $92,505.08
12572Q105 CME GROUP INC US CME 710.92 $144,124.93
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 127,786.58 $125,993.22
126650100 CVS HEALTH CORP US CVS 1,527.49 $114,974.31
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 256,721.32 $266,457.55
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,873.9 $9,935.81
133131102 CAMDEN PROPERTY TRUST US CPT 286.34 $31,941.56
149123101 CATERPILLAR INC US CAT 705 $102,034.10
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 178,176.18 $179,328.12
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 4,936.95 $4,986.76
166764100 CHEVRON CORP US CVX 1,346.8 $157,750.63
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,694.36 $94,630.04
17275R102 CISCO SYSTEMS INC US CSCO 4,335.63 $196,447.31
172967424 CITIGROUP INC US C 1,777.3 $133,510.88
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 266,595.21 $441,629.93
191216100 COCA COLA CO/THE US KO 5,272.66 $281,560.09
192422103 COGNEX CORP US CGNX 1,490.96 $74,816.29
194162103 COLGATE-PALMOLIVE CO US CL 1,328.04 $90,067.61
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 444,325.36 $451,138.64
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 538.13 $25,614.86
20451NAG6 COMPASS MINERALS INTERNA 6.75000 12/01/2027 US 14,810.85 $15,329.22
222795502 COUSINS PROPERTIES INC US CUZ 1,531.44 $62,008.06
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 543,064.32 $545,124.47
22822V101 CROWN CASTLE INTL CORP US CCI 197.48 $26,394.90
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 572,686.01 $579,998.87
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 82,649.54 $80,409.59
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 9,873.9 $9,624.19
253868103 DIGITAL REALTY TRUST INC US DLR 236.97 $28,661.95
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 543,064.32 $618,337.87
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 14,810.85 $15,051.52
25960P109 DOUGLAS EMMETT INC US DEI 641.8 $28,284.27
262006208 DREYFUS GVT CSH MANAGEMENT US 201,145.04 $201,145.04
2715777 QUEBECOR INC -CL B CA QBR/B CN 3,100.4 $76,885.71
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,781.7 $78,150.82
285512109 ELECTRONIC ARTS US EA 2,280.87 $230,390.69
291011104 EMERSON ELEC CO US EMR 1,037.75 $76,647.96
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 385,081.97 $449,921.09
29413XAD9 ENVIVA PARTNERS LP/FIN C 6.50000 01/15/2026 US 9,873.9 $10,260.95
29444U700 EQUINIX INC US EQIX 533.19 $302,238.99
29446M102 EQUINOR ASA-SPON ADR NO EQNR 3,344.29 $61,969.67
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 355.46 $26,332.50
29476L107 EQUITY RESIDENTIAL US EQR 454.2 $38,652.36
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 1,080.2 $28,182.53
297178105 ESSEX PROPERTY TRUST INC US ESS 92.81 $28,974.87
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 987,389.68 $992,948.27
30225T102 EXTRA SPACE STORAGE INC US EXR 93.8 $9,947.70
30262DAL5 FREMF 2011-K13 B 4.76866 01/25/2048 US 317,449.73 $324,950.34
30287EAE0 FREMF 2014-K41 B FLT 3.96298 11/25/2047 US 269,557.38 $286,629.15
30291YAJ9 FREMF 2014-K716 B FLT 4.07899 08/25/2047 US 445,312.75 $455,837.72
30303M102 FACEBOOK INC -A US FB 3,001.66 $605,255.65
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 32,854.7 $37,711.89
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 32,166.08 $36,160.46
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 28,904.58 $32,499.55
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 101,407.69 $108,957.09
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 121,669.01 $131,942.15
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 135,669.63 $147,117.00
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 288,100.63 $294,724.94
3131YBKP2 FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 US 342,946.92 $356,668.52
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 159,989.78 $168,394.11
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 198,564.5 $210,519.41
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 282,862.44 $289,529.02
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 171,503.72 $180,488.54
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 91,613.84 $96,679.77
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 109,201.83 $118,397.63
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 232,095.03 $248,116.13
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 311,281.97 $318,900.98
3136AY6W8 FNA 2017-M15 A1 3.05802 09/25/2027 US 265,624.7 $277,499.08
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 300,276.97 $311,968.61
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 64.18 $8,476.30
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 291,806 $296,927.57
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 255,127.66 $260,104.72
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 73,487.95 $84,441.68
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 66,287.34 $70,924.53
3138ERN30 FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 US 242,777.97 $252,483.98
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 131,103.67 $146,932.91
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 598,705.42 $630,173.16
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 281,294.71 $293,941.06
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 87,176.09 $91,840.23
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 94,170.68 $98,978.72
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 86,693.89 $91,467.73
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 104,877.08 $110,287.97
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 247,683.74 $260,367.93
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 531,577.76 $586,705.68
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 548,831.15 $578,651.04
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 492,288.3 $527,315.50
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 298,032.36 $308,960.54
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 6,835.2 $6,927.87
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 8,251.32 $8,351.88
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 70,795 $79,551.15
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 75,370.92 $84,677.26
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 92,637.88 $100,337.10
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 68,922.81 $74,015.09
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 80,930.3 $86,910.30
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 781,002.82 $810,538.66
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 420,583.33 $448,970.24
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 281,670.95 $288,193.39
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 404,606.18 $420,539.62
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 260,135.11 $271,574.73
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 236,301.56 $244,930.04
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 568,562.59 $583,606.00
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 37,344.63 $41,964.56
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 43,369.11 $49,830.06
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 4,936.95 $5,233.17
32054K103 FIRST INDUSTRIAL REALTY TR US FR 424.58 $18,078.51
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 9,873.9 $9,668.22
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 286,343.01 $294,831.56
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 4,936.95 $5,331.90
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 19,747.79 $20,323.84
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 9,873.9 $9,947.95
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 93,802.02 $93,659.83
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 493,694.84 $482,937.23
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 552,938.22 $553,132.15
374297109 GETTY REALTY CORP US GTY 498.63 $16,734.08
375558103 GILEAD SCIENCES INC US GILD 1,835.56 $123,422.88
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 9,873.9 $10,099.02
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 256,721.32 $277,199.38
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 246,847.42 $244,270.83
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 313,008.69 $315,017.54
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 8,876.63 $144,422.82
404119BX6 HCA INC 4.12500 06/15/2029 US 434,451.46 $457,694.34
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 4,936.95 $4,541.99
406216101 HALLIBURTON CO US HAL 9,222.22 $193,574.39
421946104 HEALTHCARE REALTY TRUST INC US HR 750.42 $24,906.31
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 483.82 $14,683.97
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,293.48 $45,116.60
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 167.86 $17,624.91
437076102 HOME DEPOT INC US HD 1,079.22 $237,978.12
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,729.15 $76,743.56
438516106 HONEYWELL INTERNATIONAL INC US HON 823.48 $147,032.89
44107P104 HOST MARRIOTT CORP US HST 942.96 $16,492.32
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 4,936.95 $5,356.59
450913AE8 IAMGOLD CORP 7.00000 04/15/2025 CA 14,810.85 $15,060.85
452308109 ILLINOIS TOOL WKS INC US ITW 465.06 $81,074.00
45337C102 INCYTE CORP US INCY 1,204.62 $113,426.59
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,298.42 $19,398.36
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,873.9 $10,071.37
458140100 INTEL CORP US INTC 3,991.03 $231,679.24
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,639.07 $154,350.93
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,108.84 $149,083.35
46187BAA1 IHSFR 2017-SFR2 A 2.61250 12/17/2036 US 73,961.86 $73,857.95
46187BAB9 IHSFR 2017-SFR2 B 2.91250 12/17/2036 US 59,243.38 $59,158.50
46187W107 INVITATION HOMES INC US INVH 2,149.55 $65,625.68
46625H100 JP MORGAN CHASE & CO US JPM 2,098.2 $276,459.24
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 71,403.51 $72,808.52
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 90,441.22 $91,842.05
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 375,208.08 $399,186.44
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 259,961.62 $264,426.98
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 259,631.77 $263,286.60
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 278,863.75 $280,308.55
4741844 MERCK KGAA DE MRK GR 2,527.72 $295,038.04
476405105 JERNIGAN CAPITAL INC US JCAP 1,431.72 $25,026.38
478160104 JOHNSON & JOHNSON US JNJ 4,983.36 $685,161.58
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 14,810.85 $4,295.15
483007AJ9 KAISER ALUMINUM CORP 4.62500 03/01/2028 US 9,873.9 $10,134.57
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 9,873.9 $10,268.85
49427F108 KILROY REALTY CORP US KRC 113.55 $9,451.89
494368103 KIMBERLY CLARK CORP US KMB 585.52 $79,830.08
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 454,199.25 $588,510.01
49456BAE1 KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 US 552,938.22 $552,938.22
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,810.85 $15,292.20
516806AD8 LAREDO PETROLEUM INC 5.62500 01/15/2022 US 9,873.9 $9,089.97
531172104 LIBERTY PROPERTY TRUST US LPT 365.33 $22,511.89
53223X107 LIFE STORAGE INC US LSI 123.42 $13,517.36
539830109 LOCKHEED MARTIN CORP US LMT 339.66 $132,818.05
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 9,873.9 $6,911.73
550021109 LULULEMON - ADR CA LULU 1,500.83 $338,722.84
56585A102 MARATHON PETROLEUM CORP US MPC 1,267.81 $76,879.90
57636Q104 MASTERCARD INC-CLASS A US MA 1,732.87 $506,396.27
58933Y105 MERCK & CO INC US MRK 3,891.3 $339,243.77
594918104 MICROSOFT CORP US MSFT 3,100.4 $469,339.10
595112103 MICRON TECHNOLOGY INC US MU 9,439.45 $448,468.05
59522J103 MID-AMERICA APARTMENT COMM US MAA 138.23 $18,815.11
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,354.08 $386,383.28
615369105 MOODY'S CORPORATION US MCO 671.43 $152,191.90
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 9,873.9 $6,566.14
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 4,936.95 $3,628.66
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 14,810.85 $14,218.41
637417106 NATIONAL RETAIL PROPERTIES US NNN 394.96 $22,014.84
637870106 NATIONAL STORAGE AFFILIATES US NSA 315.96 $10,584.82
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 9,873.9 $10,071.37
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 199,334.68 $200,068.51
63941RAB6 NAVSL 2019-2A A2 2.70800 02/27/2068 US 543,064.32 $544,666.10
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 75,579.86 $78,369.72
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 86,381.9 $89,537.69
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 116,104.96 $120,074.47
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 14,810.85 $9,543.75
66987V109 NOVARTIS AG- REG CH NVS 5,164.05 $476,641.63
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,873.9 $10,210.60
67066G104 NVIDIA CORP US NVDA 829.41 $179,765.74
680665AL0 OLIN CORP 5.62500 08/01/2029 US 9,873.9 $10,293.54
681936100 OMEGA HEALTHCARE INVS INC US OHI 444.33 $18,674.99
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,466.27 $158,372.22
7123870 NESTLE SA-REGISTERED CH NESN SW 2,735.07 $284,022.81
713448108 PEPSICO INC US PEP 2,122.89 $288,351.85
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 7,249.42 $99,461.97
717081103 PFIZER INC US PFE 6,037.89 $232,579.44
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,873.9 $8,269.39
71943U104 PHYSICIANS REALTY TRUST US DOC 1,604.51 $30,790.51
729640102 PLYMOUTH INDUSTRIAL REIT INC US 592.43 $10,983.72
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 780,037.85 $834,058.16
74166MAB2 PRIME SECSRVC BRW/FINANC 5.25000 04/15/2024 US 14,810.85 $15,255.17
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 4,936.95 $5,156.74
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 147,986.15 $147,953.67
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 276,469.11 $279,217.38
74340W103 PROLOGIS US PLD 1,041.7 $95,367.28
74460D109 PUBLIC STORAGE INC US PSA 172.79 $36,404.07
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 14,810.85 $15,514.36
756109104 REALTY INCOME CORP US O 138.23 $10,592.91
767204100 RIO TINTO PLC - SPON ADR GB RIO 2,000.45 $109,144.63
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,873.9 $10,012.17
78409V104 S&P GLOBAL INC US SPGI 592.43 $156,787.61
78410G104 SBA COMMUNICATIONS CORP US SBAC 582.56 $137,757.94
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,810.85 $15,273.68
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 68,443.52 $68,735.51
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 192,505.24 $193,061.18
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 641,803.29 $734,138.17
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 513,442.63 $552,378.11
806857108 SCHLUMBERGER LTD NL SLB 3,357.12 $121,527.92
81141R100 SEA LTD - ADR SG SE 4,680.23 $173,355.61
812578102 SEATTLE GENETICS INC US SGEN 1,204.62 $144,975.46
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 105,156.1 $105,961.18
81762P102 SERVICENOW INC US NOW 1,244.11 $352,133.18
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,873.9 $8,377.51
828806109 SIMON PROPERTY GROUP INC US SPG 419.64 $63,453.86
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 20,463.68 $20,454.56
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 74,054.23 $74,790.32
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 52,713.04 $52,935.97
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 69,657.18 $69,985.51
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 211,681.22 $212,966.72
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 168,133.62 $169,297.22
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 57,293.75 $57,320.73
835699307 SONY CORP SPONSORED ADR JP SNE 4,838.21 $307,129.53
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 572,686.01 $577,836.89
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 14,810.85 $15,165.42
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,936.95 $5,235.63
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 4,936.95 $5,319.56
85254J102 STAG INDUSTRIAL INC US STAG 548 $16,982.56
855030AN2 STAPLES INC 7.50000 04/15/2026 US 9,873.9 $10,330.56
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.98538 11/15/2027 US 248,832.33 $248,362.84
858912AF5 STERICYCLE INC 5.37500 07/15/2024 US 9,873.9 $10,318.22
862121100 STORE CAPITAL CORP US STOR 404.83 $16,480.62
866674104 SUN COMMUNITIES US SUI 251.78 $41,471.40
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 9,873.9 $8,935.88
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 784.97 $10,989.65
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 251,481.37 $252,314.60
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,873.9 $8,787.77
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 404,829.77 $434,866.31
882508104 TEXAS INSTRUMENTS INC US TXN 1,165.12 $140,059.05
88579Y101 3M CO US MMM 778.06 $132,091.77
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,107.09 $110,706.49
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 174,264.7 $174,654.20
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 161,058.93 $161,726.38
89177EAA7 TPMT 2019-HY1 A1 2.70800 10/25/2048 US 152,609.91 $153,051.92
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,936.95 $4,961.63
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 211,730.18 $211,290.76
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,919.29 $198,530.31
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,747.79 $19,278.78
902653104 UDR INC US UDR 672.41 $32,309.41
902973304 U.S. BANCORP US USB 2,088.33 $125,362.40
903002103 UMH PROPERTIES INC US UMH 607.24 $9,479.09
904767704 UNILEVER PLC - ADR GB UL 7,279.04 $433,029.89
907818108 UNION PAC CORP US UNP 832.37 $146,488.71
911312106 UNITED PARCEL SERVICE US UPS 1,180.92 $141,391.32
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 372,943.12 $394,041.57
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 646,740.24 $752,972.38
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 3,075,718.85 $3,117,048.82
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,507,803.28 $1,524,730.23
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,117,083.87 $3,108,304.36
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,330,239.64 $2,317,769.23
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 4,645,668.44 $4,792,478.81
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 2,236,437.62 $2,319,605.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,251,248.47 $2,303,924.17
913017109 UNITED TECHNOLOGIES CORP US UTX 1,001.21 $148,519.96
91704F104 URBAN EDGE PROPERTIES US UE 1,100.94 $22,822.48
918204108 VF CORP US VFC 661.55 $58,573.73
91913Y100 VALERO ENERGY US VLO 709.93 $67,791.52
92276F100 VENTAS INC US VTR 360.4 $21,014.76
92339V100 VEREIT INC US VER 2,986.85 $29,151.69
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 710,920.57 $898,355.76
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 513.44 $113,855.90
92826C839 VISA INC - CLASS A SHARES US V 2,419.1 $446,349.01
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,873.9 $9,528.31
929042109 VORNADO REALTY TRUST US VNO 172.79 $11,157.26
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 9,873.9 $9,083.99
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 331,029.92 $338,083.34
93065PAA9 WBHT 2019-WBM A FLT 2.81538 12/15/2033 US 172,793.19 $172,900.79
931142103 WAL MART STORES US WMT 2,289.76 $272,687.12
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,354.7 $80,740.04
94106L109 WASTE MANAGEMENT INC US WM 693.15 $78,263.29
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 14,810.85 $15,144.09
948741103 WEINGARTEN REALTY INVESTORS US WRI 715.86 $22,792.90
949746101 WELLS FARGO COMPANY US WFC 4,530.14 $246,711.63
95040Q104 WELLTOWER INC. US WELL 452.22 $38,244.62
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 394,955.87 $404,360.24
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 61,929.03 $61,991.18
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 306.09 $17,731.84
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,810.85 $13,949.98
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 271,532.16 $13,804.75
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,583.86 $25,234.04
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 497,644.4 $25,220.25
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 723,756.63 $37,163.14
B63QM77 NEXON CO LTD JP 3659 JP 32,583.86 $445,145.73
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,839.85 $4,854.05
BBG00Q7Z9PN7 SE US 12/20/19 C39 SG -20.74 -$1,347.79
BBG00QR025W3 MU US 12/13/19 P43 US -25.67 -$359.41
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 365.33 $4,647.38
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 8,689.03 $13,958.20
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,951.22 $293,307.94
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 7,938.61 $247,005.30
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,169.52 $251,242.38
G29183103 EATON CORP PLC US ETN 751.4 $69,504.83
G5960L103 MEDTRONIC INC IE MDT 5,951 $662,881.62
H01301128 ALCON INC CH ALC 2,369.74 $131,022.66
H1467J104 CHUBB LTD CH CB 473.95 $71,793.50
H8817H100 TRANSOCEAN LTD US RIG 12,450.98 $62,005.90
N47279109 INTERXION HOLDING NV NL INXN 641.8 $54,578.95

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
  • 2019 Distribution Calendar
  • Fourth Quarter 2019 Distribution Estimates
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 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

$10.45

Daily $ Change

$0.03

Daily % Change

0.29%

as of 12/11/2019

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

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

Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 11/30/2019

YTD

11.72%

1 Year

9.48%

3 Year

5.63%

5 Year

3.17%

10 Year

4.68%

Inception
(03/28/2008)

4.48%

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 11/30/2019

GOVERNMENT AGENCY 13.69%
TREASURY NOTES 12.80%
TREASURY BONDS 7.06%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.96%
TSY INFL IX N/B 0.50000 04/15/2024 1.94%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.26%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.14%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.06%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.04%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.93%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 11/30/2019

Bonds
71.97%
Stocks
27.77%
Cash
0.26%

Detailed Asset Class Allocation

As of 11/30/2019

International Equities
7.17%
Small Capitalization
0.25%
Mid Capitalization
1.02%
Large Capitalization
19.33%
Long Term Fixed Income
16.07%
Intermediate Term Fixed Income
42.85%
Short Term Fixed Income
13.05%
Cash
0.26%

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

November Fund Holdings

As of 11/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,936.95 $5,233.17
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 513,442.63 $561,709.32
00287Y109 ABBVIE INC US ABBV 1,747.68 $153,323.94
004239109 ACADIA REALTY TRUST US AKR 291.28 $7,829.61
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,810.85 $13,281.18
00507V109 ACTIVISION INC US ATVI 4,472.88 $245,247.75
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 523,316.53 $563,228.33
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 14,810.85 $14,551.66
008492100 AGREE REALTY CORP US ADC 172.79 $12,921.48
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 562,812.12 $583,223.57
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 9,873.9 $10,071.37
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 69.12 $11,232.94
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 434,451.46 $451,171.80
02079K107 ALPHABET INC-CL C US GOOG 177.73 $231,930.73
02079K305 ALPHABET INC-CL A US GOOGL 172.79 $225,337.88
023135106 AMAZON.COM INC US AMZN 157.98 $284,494.61
02319V103 AMBEV SA-ADR BR ABEV 15,166.31 $63,850.15
0237400 DIAGEO PLC GB DGE LN 3,352.19 $136,958.83
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 483.82 $23,242.76
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,515.64 $40,482.83
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,747.79 $20,141.13
03027X100 AMERICAN TOWER REIT INC US AMT 641.8 $137,365.16
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 543,064.32 $579,120.09
03064D108 AMERICOLD REALTY TRUST US COLD 903.46 $33,988.22
031162100 AMGEN INC US AMGN 820.52 $192,592.65
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 9,873.9 $7,800.38
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 9,873.9 $7,627.59
03748R754 APARTMENT INVT & MGMT CO -A US AIV 788.92 $42,420.46
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 9,873.9 $10,009.66
053484101 AVALONBAY COMMUNITIES INC US AVB 281.41 $60,336.27
060505104 BANK OF AMERICA CORP US BAC 5,899.65 $196,576.45
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 770,163.95 $819,540.79
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,742.74 $383,926.23
088606108 BHP GROUP LTD AU BHP 2,619.54 $134,985.14
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,419.1 $195,245.94
09247X101 BLACKROCK INC US BLK 157.98 $78,187.04
097023105 BOEING CO US BA 518.38 $189,820.24
09857L108 BOOKING HOLDINGS INC US BKNG 74.05 $141,001.47
101121101 BOSTON PROPERTIES INC US BXP 247.83 $34,335.03
105368203 BRANDYWINE REALTY TRUST US BDN 2,206.82 $34,051.17
110122108 BRISTOL MYERS SQUIBB CO US BMY 2,038.96 $116,098.36
11135F101 BROADCOM INC US AVGO 404.83 $128,011.22
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,873.9 $6,319.29
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 9,873.9 $9,355.52
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,293.48 $153,794.83
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 90,778.84 $92,505.08
12572Q105 CME GROUP INC US CME 710.92 $144,124.93
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 127,786.58 $125,993.22
126650100 CVS HEALTH CORP US CVS 1,527.49 $114,974.31
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 256,721.32 $266,457.55
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,873.9 $9,935.81
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83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 52,713.04 $52,935.97
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84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 572,686.01 $577,836.89
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85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,936.95 $5,235.63
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862121100 STORE CAPITAL CORP US STOR 404.83 $16,480.62
866674104 SUN COMMUNITIES US SUI 251.78 $41,471.40
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 9,873.9 $8,935.88
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 784.97 $10,989.65
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 251,481.37 $252,314.60
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,873.9 $8,787.77
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 404,829.77 $434,866.31
882508104 TEXAS INSTRUMENTS INC US TXN 1,165.12 $140,059.05
88579Y101 3M CO US MMM 778.06 $132,091.77
89151E109 TOTAL S A SPONSORED ADR FR TOT 2,107.09 $110,706.49
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 174,264.7 $174,654.20
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 161,058.93 $161,726.38
89177EAA7 TPMT 2019-HY1 A1 2.70800 10/25/2048 US 152,609.91 $153,051.92
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,936.95 $4,961.63
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 211,730.18 $211,290.76
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,919.29 $198,530.31
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 19,747.79 $19,278.78
902653104 UDR INC US UDR 672.41 $32,309.41
902973304 U.S. BANCORP US USB 2,088.33 $125,362.40
903002103 UMH PROPERTIES INC US UMH 607.24 $9,479.09
904767704 UNILEVER PLC - ADR GB UL 7,279.04 $433,029.89
907818108 UNION PAC CORP US UNP 832.37 $146,488.71
911312106 UNITED PARCEL SERVICE US UPS 1,180.92 $141,391.32
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 372,943.12 $394,041.57
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 646,740.24 $752,972.38
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 3,075,718.85 $3,117,048.82
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,507,803.28 $1,524,730.23
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,117,083.87 $3,108,304.36
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,330,239.64 $2,317,769.23
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 4,645,668.44 $4,792,478.81
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 2,236,437.62 $2,319,605.15
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,251,248.47 $2,303,924.17
913017109 UNITED TECHNOLOGIES CORP US UTX 1,001.21 $148,519.96
91704F104 URBAN EDGE PROPERTIES US UE 1,100.94 $22,822.48
918204108 VF CORP US VFC 661.55 $58,573.73
91913Y100 VALERO ENERGY US VLO 709.93 $67,791.52
92276F100 VENTAS INC US VTR 360.4 $21,014.76
92339V100 VEREIT INC US VER 2,986.85 $29,151.69
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 710,920.57 $898,355.76
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 513.44 $113,855.90
92826C839 VISA INC - CLASS A SHARES US V 2,419.1 $446,349.01
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,873.9 $9,528.31
929042109 VORNADO REALTY TRUST US VNO 172.79 $11,157.26
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 9,873.9 $9,083.99
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 331,029.92 $338,083.34
93065PAA9 WBHT 2019-WBM A FLT 2.81538 12/15/2033 US 172,793.19 $172,900.79
931142103 WAL MART STORES US WMT 2,289.76 $272,687.12
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,354.7 $80,740.04
94106L109 WASTE MANAGEMENT INC US WM 693.15 $78,263.29
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 14,810.85 $15,144.09
948741103 WEINGARTEN REALTY INVESTORS US WRI 715.86 $22,792.90
949746101 WELLS FARGO COMPANY US WFC 4,530.14 $246,711.63
95040Q104 WELLTOWER INC. US WELL 452.22 $38,244.62
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 394,955.87 $404,360.24
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 61,929.03 $61,991.18
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 306.09 $17,731.84
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,810.85 $13,949.98
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 271,532.16 $13,804.75
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,583.86 $25,234.04
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 497,644.4 $25,220.25
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 723,756.63 $37,163.14
B63QM77 NEXON CO LTD JP 3659 JP 32,583.86 $445,145.73
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,839.85 $4,854.05
BBG00Q7Z9PN7 SE US 12/20/19 C39 SG -20.74 -$1,347.79
BBG00QR025W3 MU US 12/13/19 P43 US -25.67 -$359.41
BD3HF92 BSR REAL ESTATE INVESTMENT CA HOM/U CN 365.33 $4,647.38
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 8,689.03 $13,958.20
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,951.22 $293,307.94
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 7,938.61 $247,005.30
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,169.52 $251,242.38
G29183103 EATON CORP PLC US ETN 751.4 $69,504.83
G5960L103 MEDTRONIC INC IE MDT 5,951 $662,881.62
H01301128 ALCON INC CH ALC 2,369.74 $131,022.66
H1467J104 CHUBB LTD CH CB 473.95 $71,793.50
H8817H100 TRANSOCEAN LTD US RIG 12,450.98 $62,005.90
N47279109 INTERXION HOLDING NV NL INXN 641.8 $54,578.95

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
  • 2019 Distribution Calendar
  • Fourth Quarter 2019 Distribution Estimates
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 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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