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.

Learn more about our Glide Range SM

Daily Price

$9.83

Daily $ Change

$0.01

Daily % Change

0.10%

as of 02/22/2018

Ticker

MTDZX

CUSIP

56382R548

Inception Date

10/16/2017

This fund is available for qualified retirement plans only.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-03/14/17

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Pro-Blend® 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. Prior to 10/16/2017, the underlying funds were the Manning & Napier Fund, Inc. Pro-Blend Series. The annual report for the Blended Asset Series as of 10/31/2017 and the semi-annual report for the Pro-Blend Series as of 04/30/2017 are provided above.

Annualized Performance

As of 01/31/2018

YTD

0.80%

1 Year

---

3 Year

---

5 Year

---

10 Year

---

Inception
(10/16/2017)

1.41%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 03/28/2008. For periods through 10/16/2017 (the inception date of the Class R6 shares), performance for the Class R6 shares is based on the historical performance of the Class I shares. Because the Class R6 shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.62%
Net 0.50%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date of 02/29/2028 without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 01/31/2018

TREASURY NOTES 17.26%
GOVERNMENT AGENCY 10.68%
TREASURY BONDS 3.29%
GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 1.20%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.96%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 0.92%
FACEBOOK INC -A 0.85%
KFW 1.50000 06/15/2021 0.77%
PRICELINE GROUP INC 0.75%
ASSURED GUARANTY US HLDG 5.00000 07/01/2024 0.71%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 01/31/2018

Bonds 65.85%
Stocks 26.05%
Cash 8.10%

Detailed Asset Class Allocation

As of 01/31/2018

International Equities 4.84%
Small Capitalization 0.94%
Mid Capitalization 3.00%
Large Capitalization 17.27%
Long Term Fixed Income 13.73%
Intermediate Term Fixed Income 42.32%
Short Term Fixed Income 9.80%
Cash 8.10%

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

January Fund Holdings

As of 01/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 2,807.52 $78,245.48
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 26,412.17 $25,091.57
00206REM0 AT&T INC 3.90000 08/14/2027 US 606,501.78 $603,858.71
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 493,027.25 $484,337.34
00287Y109 ABBVIE INC US ABBV 1,482.02 $166,311.88
004239109 ACADIA REALTY TRUST US AKR 425.53 $10,451.00
0045614 ANTOFAGASTA PLC GB ANTO LN 4,988.97 $66,029.11
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 518,461.2 $506,168.29
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 577,154.92 $600,046.87
008492100 AGREE REALTY CORP US ADC 190.75 $9,182.93
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 14,673.43 $15,388.76
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 37,172.69 $39,542.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 386.4 $50,116.12
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 410,856.04 $398,726.60
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 25,433.95 $26,069.79
020002101 ALLSTATE CORPORATION US ALL 264.12 $26,087.30
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 14,673.43 $14,732.12
02079K107 ALPHABET INC-CL C US GOOG 166.3 $194,559.70
02079K305 ALPHABET INC-CL A US GOOGL 166.3 $196,601.85
023135106 AMAZON.COM INC US AMZN 136.95 $198,702.31
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 283,686.31 $278,228.45
02319V103 AMBEV SA-ADR BR ABEV 58,615.46 $402,688.22
0237400 DIAGEO PLC GB DGE LN 14,130.51 $508,590.59
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 24,455.72 $25,005.97
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 445.09 $17,118.32
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,604.3 $33,353.29
026874784 AMERICAN INTL GROUP INC US AIG 391.29 $25,011.35
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 430,420.62 $447,020.83
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 596,719.49 $603,506.08
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 528,243.48 $511,987.87
03064D108 AMERICOLD REALTY TRUST US COLD 929.32 $16,987.92
031162100 AMGEN INC US AMGN 684.76 $127,399.61
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 15,651.66 $16,853.24
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 438,246.44 $433,384.14
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 381,509.18 $594,225.93
03748R101 APARTMENT INVT & MGMT CO -A US AIV 904.86 $37,859.41
03761U106 APOLLO INVESTMENT CORP US AINV 2,445.57 $14,062.04
037833100 APPLE COMPUTER INC US AAPL 494.01 $82,711.34
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 596,719.49 $592,429.34
03938LAQ7 ARCELORMITTAL 5.50000 08/05/2020 LU 9,782.29 $10,320.31
03965L100 ARCONIC INC. US ARNC 9,126.87 $274,353.82
04010L103 ARES CAPITAL CORP US ARCC 1,041.81 $16,616.93
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 562.48 $40,830.53
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 704,324.64 $753,782.28
053015103 AUTOMATIC DATA PROCESSING US ADP 547.81 $67,725.51
053484101 AVALONBAY COMMUNITIES INC US AVB 269.01 $45,839.80
054937107 BB & T CORPORATION US BBT 1,120.07 $61,816.76
055622104 BP PLC-SPONS ADR GB BP 3,047.18 $130,388.93
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 340,423.58 $349,014.59
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 111,518.07 $112,612.47
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 554,655.66 $536,501.94
058498106 BALL CORP US BLL 10,152.06 $388,620.75
060505104 BANK OF AMERICA CORP US BAC 5,121.03 $163,872.87
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 440,202.9 $450,345.90
06652K103 BANKUNITED INC US BKU 699.43 $28,704.75
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 177,059.39 $213,657.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,362.9 $393,664.46
09062X103 BIOGEN IDEC INC US BIIB 831.49 $289,202.06
09247X101 BLACKROCK INC US BLK 342.38 $192,349.10
09627J102 BLUEROCK RESIDENTIAL GROWTH US 841.28 $7,049.90
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 410,856.04 $452,361.07
097023105 BOEING CO US BA 557.59 $197,593.29
0989529 ASTRAZENECA PLC GB AZN LN 758.13 $52,624.07
101121101 BOSTON PROPERTIES INC US BXP 361.94 $44,776.17
105368203 BRANDYWINE REALTY TRUST US BDN 1,085.83 $19,479.86
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,362.9 $273,117.53
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 440.2 $7,144.49
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 616.28 $59,415.95
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 47,933.2 $44,817.55
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 4,891.14 $5,319.12
125896100 CMS ENERGY CORP US CMS 988.01 $44,213.49
12626K203 CRH PLC -SPONSORED ADR IE CRH 1,286.37 $48,097.40
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 533,134.63 $533,463.14
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 46,954.98 $45,781.10
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 161,618.13 $150,222.76
126650100 CVS HEALTH CORP US CVS 1,134.75 $89,293.10
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 254,339.45 $258,561.31
133131102 CAMDEN PROPERTY TRUST US CPT 224.99 $19,475.36
134429109 CAMPBELL SOUP CO US CPB 1,393.98 $64,889.58
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 195,645.73 $192,788.37
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 223,036.14 $220,650.07
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 7,517.69 $99,007.94
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 55,759.03 $56,525.72
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 24,455.72 $24,639.13
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 9,782.29 $10,118.61
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 34,238 $34,879.97
165183AF1 CFII 2016-2A A1 1.88000 06/15/2028 US 297,384.91 $296,604.24
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 146,734.3 $145,853.21
165240102 CHESAPEAKE LODGING TRUST US CHSP 743.45 $20,348.33
166764100 CHEVRON CORP US CVX 670.09 $83,995.36
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,183.66 $102,800.58
17275R102 CISCO SYSTEMS INC US CSCO 4,196.6 $174,326.81
172967424 CITIGROUP INC US C 1,951.57 $153,158.92
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 596,719.49 $601,278.14
194162103 COLGATE-PALMOLIVE CO US CL 983.12 $72,986.82
19625JAA1 CAH 2015-1A A 2.75375 07/17/2032 US 224,728.5 $225,470.54
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 7,097.05 $63,731.50
198287203 COLUMBIA PROPERTY TRUST INC US CXP 640.74 $14,025.79
199908104 COMFORT SYSTEMS US FIX 1,403.76 $59,800.10
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 264,121.74 $283,305.84
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,032.51 $80,786.04
20825C104 CONOCOPHILLIPS US COP 992.9 $58,392.57
20826FAD8 CONOCOPHILLIPS COMPANY 3.35000 11/15/2024 US 252,383 $256,862.67
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 47,933.2 $48,325.52
21871N101 CORECIVIC INC US CXW 2,695.02 $62,551.41
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 635,848.64 $627,302.83
222795106 COUSINS PROPERTIES INC US CUZ 4,881.36 $43,932.25
22282E102 COVANTA HOLDING CORP US CVA 3,727.05 $60,937.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 249,448.31 $248,234.59
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,455.72 $24,455.72
22822V101 CROWN CASTLE INTL CORP US CCI 997.79 $112,521.14
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 111,351.88 $104,129.82
229663109 CUBESMART US CUBE 1,785.27 $49,148.41
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 5,840.03 $87,078.10
23918K108 DAVITA INC. US DVA 7,962.78 $621,415.46
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 34,238 $34,109.61
247361702 DELTA AIR LINES INC. US DAL 782.58 $44,427.23
25271C102 DIAMOND OFFSHORE DRILLING US DO 7,698.66 $136,112.30
253393102 DICK'S SPORTING GOODS INC US DKS 2,445.57 $76,937.68
253868103 DIGITAL REALTY TRUST INC US DLR 606.5 $67,897.87
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 459,767.48 $448,324.61
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 9,782.29 $9,733.38
256677105 DOLLAR GENERAL CORP US DG 1,310.83 $135,172.42
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 254,339.45 $254,391.97
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 283,686.31 $294,767.37
26078J100 DOWDUPONT INC US DWDP 1,433.11 $108,314.08
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,216.23 $35,656.44
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 303,250.89 $297,976.15
28140H203 EDUCATION REALTY TRUST INC US EDR 269.01 $8,885.50
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 538,025.77 $555,904.45
285512109 ELECTRONIC ARTS US EA 2,572.74 $326,635.25
2866857 LUNDIN MINING CORP CA LUN CN 8,451.9 $61,087.28
291011104 EMERSON ELEC CO US EMR 875.51 $63,238.42
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 283,686.31 $279,863.58
29372EBF4 ENTERPRISE FLEET FINANCING LLC 1.64000 03/20/2020 US 138,474.95 $138,328.67
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 44,949.75 $44,918.27
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 33,259.77 $35,546.38
294429105 EQUIFAX INC US EFX 2,015.15 $251,752.82
29444U700 EQUINIX INC US EQIX 269.01 $122,451.97
294628102 EQUITY COMMONWEALTH US EQC 640.74 $19,164.53
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 195.65 $16,888.14
29476L107 EQUITY RESIDENTIAL US EQR 533.13 $32,846.42
297178105 ESSEX PROPERTY TRUST INC US ESS 34.24 $7,976.77
298736109 EURONET WORLDWIDE INC US EEFT 2,660.78 $249,767.60
30040W108 EVERSOURCE ENERGY US ES 650.52 $41,041.44
30161N101 EXELON CORP US EXC 679.87 $26,181.75
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 978,228.67 $968,401.39
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 2,396.66 $189,767.56
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 449,985.19 $448,991.39
30225T102 EXTRA SPACE STORAGE INC US EXR 357.05 $29,806.82
30231G102 EXXON MOBIL CORP US XOM 1,843.96 $160,977.80
302491303 FMC CORP US FMC 547.81 $50,031.31
30263FAL9 FREMF MORTGAGE TRUST FLT 4.79348 04/25/2044 US 133,039.1 $132,788.84
30287EAE0 FREMF 2014-K41 B FLT 3.83176 11/25/2047 US 267,056.43 $270,437.31
30291EAE4 FREMF 2013-K712 B FLT 3.36181 05/25/2045 US 132,060.87 $133,439.84
30291YAJ9 FREMF 2014-K716 B FLT 3.95028 08/25/2047 US 441,181.13 $448,032.81
30303M102 FACEBOOK INC -A US FB 4,803.1 $897,651.88
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 47,902.36 $53,620.75
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 45,898.55 $50,282.47
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 41,326.07 $45,319.89
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 228,434.62 $241,498.82
3128MJZU7 FHLM POOL G08754 4.50000 03/01/2047 US 184,307.15 $194,194.78
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 104,603.95 $111,135.54
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 142,064.38 $151,161.67
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 74,813.29 $78,158.68
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 225,207.79 $235,287.69
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 172,990.7 $182,980.06
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 172,607.23 $182,552.47
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 238,280.62 $241,824.61
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 112,776.88 $117,819.75
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 201,409.43 $204,402.04
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 267,372.18 $277,386.42
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 298,700.47 $302,102.58
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 257,919.1 $266,656.27
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 281,714.52 $291,257.78
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 153,762.29 $159,316.27
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 147,092.33 $155,553.54
31335AV54 FHLM POOL G60636 4.00000 01/01/2046 US 192,076.52 $198,583.24
3135G0ZR7 FEDERAL NATL MTG ASSN 2.62500 09/06/2024 US 2,128,625.59 $2,115,807.01
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 649,543.84 $657,858.98
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 711,172.24 $734,363.92
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 506,722.45 $507,041.89
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 334,554.21 $335,560.31
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 106,303.28 $119,287.37
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 112,290.85 $116,529.37
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 165,277.53 $175,415.72
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 78,848.8 $88,016.65
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 86,131.99 $89,363.00
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65500 01/01/2049 US 176,601.2 $191,485.26
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 150,424.01 $160,549.81
3138WHMS8 FEDERAL NATL MTG ASSN AS7568 4.50000 07/01/2046 US 149,856.59 $158,019.89
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 145,080.03 $153,055.23
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 302,959.3 $306,717.03
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 128,927.22 $133,417.17
3140EWKL8 FEDERAL NATL MTG ASSN BC2098 4.00000 06/01/2046 US 132,799.49 $137,257.40
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 275,221.25 $278,097.58
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 217,069.19 $219,339.79
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 179,094.2 $185,836.74
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 111,921.6 $115,701.90
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 141,044.91 $145,808.90
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 103,051.58 $106,553.59
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 144,522.13 $153,238.40
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 547,671.22 $568,740.74
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 27,562.56 $28,458.21
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 32,956.73 $34,018.26
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 99,950.37 $109,708.22
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 107,929.81 $118,547.11
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 79,444.53 $89,387.79
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 89,246.03 $100,210.36
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 124,505.56 $132,382.06
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 101,367.75 $107,831.01
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 104,922.4 $111,627.77
31418BM37 FEDERAL NATL MTG ASSN MA2177 4.00000 02/01/2035 US 248,440.04 $259,114.19
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 554,945.51 $585,798.33
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 53,293.79 $58,465.72
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 61,021.66 $68,273.52
31428X106 FEDEX CORPORATION US FDX 1,115.18 $292,712.63
316773100 FIFTH THIRD BANCORP US FITB 997.79 $33,026.96
32054K103 FIRST INDUSTRIAL REALTY TR US FR 934.21 $28,829.67
345605109 FOREST CITY REALTY TRUST - A US FCE/A 821.71 $19,285.58
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 14,673.43 $15,037.29
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 298,359.74 $300,091.25
36143WAS0 GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 US 1,261,914.99 $1,261,300.69
36174X101 GGP INC US GGP 1,438 $33,117.05
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 92,931.72 $91,632.50
36251MAE1 GMALT 2016-3 A4 1.78000 05/20/2020 US 220,101.45 $218,801.62
363576109 ARTHUR J GALLAGHER & CO US AJG 435.31 $29,740.50
369604103 GENERAL ELEC CO US GE 1,618.97 $26,178.72
370334104 GENERAL MLS INC US GIS 831.49 $48,634.11
371559105 GENESEE & WYOMING INC -CL A US GWR 2,562.96 $204,652.29
374297109 GETTY REALTY CORP US GTY 860.84 $22,588.47
375558103 GILEAD SCIENCES INC US GILD 1,291.26 $108,207.74
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 44,020.29 $45,065.77
37954A204 GLOBAL MEDICAL REIT INC US GMRE 5,199.29 $41,698.27
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 293,468.6 $301,485.98
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 6,133.49 $99,055.92
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 39,129.15 $40,205.20
404119BM0 HCA INC 3.75000 03/15/2019 US 10,760.52 $10,881.89
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 10,760.52 $11,459.95
40414L109 HCP INC US HCP 1,746.14 $42,047.01
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 24,455.72 $24,700.27
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 733.67 $20,256.67
42809H107 HESS CORP US HES 2,621.65 $132,419.68
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 40,107.38 $41,310.60
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 25,433.95 $25,815.45
437076102 HOME DEPOT INC US HD 1,110.29 $223,057.17
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,205.91 $77,846.41
438516106 HONEYWELL INTERNATIONAL INC US HON 709.22 $113,240.48
44107P104 HOST MARRIOTT CORP US HST 909.75 $18,886.47
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,671.95 $60,268.67
446150104 HUNTINGTON BANCSHARES US HBAN 1,799.94 $29,123.04
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 33,259.77 $33,176.63
45337C102 INCYTE CORP US INCY 2,885.77 $260,556.59
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,398.87 $12,855.59
456788108 INFOSYS LIMITED-SP ADR IN INFY 3,130.33 $56,377.27
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 97,822.87 $97,089.20
458140100 INTEL CORP US INTC 5,644.38 $271,720.43
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 846.17 $138,517.67
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 25,433.95 $26,568.15
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 293,468.6 $286,495.87
46186YAA2 IHSFR 2015-SFR3 A FLT 2.85945 08/17/2032 US 251,973.47 $252,989.05
46187BAA1 IHSFR 2017-SFR2 A 2.40614 12/17/2036 US 77,931.27 $78,416.93
46187BAB9 IHSFR 2017-SFR2 B 2.70614 12/17/2036 US 58,693.72 $59,055.79
46187W107 INVITATION HOMES INC US INVH 1,376.37 $30,954.51
464287739 ISHARES DJ US REAL ESTATE US 430.42 $33,813.84
46434V621 ISHARES CORE DIVIDEND GROWTH US 366.84 $13,371.16
466032109 J&J SNACK FOODS CORP US JJSF 376.62 $52,139.00
46625H100 JP MORGAN CHASE & CO US JPM 3,810.2 $440,725.91
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 93,742.48 $93,918.25
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 127,762.03 $126,818.76
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 567,372.63 $559,813.25
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 352,944.96 $352,393.49
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 348,933.78 $351,864.12
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 374,780.73 $372,081.56
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 241,890.7 $241,437.16
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 289,468.91 $291,718.95
478160104 JOHNSON & JOHNSON US JNJ 5,316.67 $734,711.02
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 53,802.58 $54,273.35
485170302 KANSAS CITY SOUTHERN US KSU 875.51 $99,046.97
493267108 KEYCORP US KEY 2,680.35 $57,359.42
494368103 KIMBERLY CLARK CORP US KMB 445.09 $52,076.00
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 31,303.32 $32,242.42
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 1,349.96 $55,024.19
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 586,937.2 $572,974.46
500769GZ1 KFW 1.50000 06/15/2021 DE 842,254.89 $814,893.56
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 23,477.49 $23,947.04
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 34,238 $35,350.74
512816109 LAMAR ADVERTISING CO US LAMR 547.81 $39,442.18
517942108 LASALLE HOTEL PROPERTIES US LHO 440.2 $13,443.80
53223X107 LIFE STORAGE INC US LSI 244.56 $20,322.70
532457108 ELI LILLY & CO US LLY 626.07 $50,993.10
534187109 LINCOLN NATL CORP IND US LNC 366.84 $30,374.00
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 653,456.75 $673,735.17
539830109 LOCKHEED MARTIN CORP US LMT 293.47 $104,137.33
550021109 LULULEMON - ADR CA LULU 3,756.4 $293,787.90
554382101 THE MACERICH CO US MAC 278.8 $18,001.80
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 391,291.47 $407,995.52
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 38,150.92 $37,015.93
5671735 SANOFI-AVENTIS FR SAN FP 552.7 $48,776.90
57636Q104 MASTERCARD INC-CLASS A US MA 2,357.53 $398,422.76
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 34,238 $35,222.35
580135101 MCDONALDS CORP US MCD 684.76 $117,189.84
58503F106 MEDLEY CAPITAL CORP US MCC 2,044.5 $10,406.49
58933Y105 MERCK & CO INC US MRK 7,160.63 $424,267.56
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 24,455.72 $24,761.41
594918104 MICROSOFT CORP US MSFT 4,519.42 $429,389.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 322.82 $30,786.91
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 410,856.04 $444,551.16
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 381,509.18 $393,145.21
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 29,346.86 $29,200.13
624758108 MUELLER WATER PRODUCTS INC - A US MWA 4,524.31 $52,617.70
62942M201 NTT DOCOMO INC -SPON ADR JP DCM 3,873.79 $96,650.95
62944TAE5 NVR INC 3.95000 09/15/2022 US 449,985.19 $464,278.29
637417106 NATIONAL RETAIL PROPERTIES US NNN 484.22 $19,213.98
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 117,563.78 $119,070.16
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 127,189.42 $128,942.14
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 163,270.46 $165,417.21
651229106 NEWELL BRANDS INC US NWL 3,042.29 $80,438.18
654106103 NIKE INC CLASS B US NKE 679.87 $46,380.66
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 25,433.95 $25,592.91
66987V109 NOVARTIS AG- REG CH NVS 5,991.65 $539,608.05
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 269.01 $71,205.02
67401P108 OAKTREE SPECIALTY LENDING CO US OCSL 2,528.72 $12,491.88
680223104 OLD REPUBLIC INTL CORP US ORI 1,261.92 $27,118.55
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 206,406.25 $206,350.97
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 201,515.11 $198,766.55
69007J106 OUTFRONT MEDIA INC US OUT 1,579.84 $35,388.40
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 39,129.15 $40,394.97
693475105 PNC FINANCIAL SERVICES GROUP US PNC 200.54 $31,688.84
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 18,586.34 $17,749.96
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 1,398.87 $28,844.64
708062104 PENNANTPARK INVESTMENT CORP US PNNT 1,961.35 $13,219.49
713448108 PEPSICO INC US PEP 1,628.75 $195,938.71
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 293,468.6 $296,607.27
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 264,121.74 $298,853.75
717081103 PFIZER INC US PFE 4,881.36 $180,805.61
71943U104 PHYSICIANS REALTY TRUST US DOC 1,936.89 $31,571.35
729640102 PLYMOUTH INDUSTRIAL REIT INC US 269.01 $4,740.01
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 40,107.38 $41,450.97
741503403 PRICELINE GROUP INC US PCLN 410.86 $785,577.29
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 606,501.78 $603,174.01
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 381.51 $25,790.02
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 146,734.3 $143,392.65
74340W103 PROLOGIS US PLD 973.34 $63,374.01
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 273,904.03 $299,924.91
74460D109 PUBLIC STORAGE INC US PSA 151.63 $29,682.20
74736K101 QORVO INC US QRVO 8,833.4 $633,973.47
747525103 QUALCOMM INC US QCOM 1,662.99 $113,498.98
749685103 RPM INTERNATIONAL INC US RPM 1,633.64 $85,276.11
755111507 RAYTHEON COMPANY US RTN 361.94 $75,624.71
758849103 REGENCY CENTERS CORP US REG 322.82 $20,308.32
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,281.48 $469,854.48
7591EP100 REGIONS FINANCIAL CORP. US RF 1,682.55 $32,355.50
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 386.4 $11,472.23
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 45,976.75 $48,275.58
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 10,760.52 $11,676.68
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 836.39 $60,161.21
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.50945 11/15/2026 US 432,377.07 $431,104.54
78442FET1 SLM CORP 6.12500 03/25/2024 US 24,455.72 $24,944.83
78442PGC4 SLM CORP 5.12500 04/05/2022 US 44,020.29 $45,450.95
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 128,273.94 $127,125.08
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 273,904.03 $268,667.75
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 273,904.03 $305,015.38
80105N105 SANOFI-AVENTIS-ADR FR SNY 2,455.35 $107,863.70
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 391,291.47 $386,320.13
806857108 SCHLUMBERGER LTD NL SLB 5,262.87 $387,241.99
808524797 SCHWAB US DVD EQUITY ETF US 248.47 $13,293.15
81211K100 SEALED AIR CORP US SEE 7,351.39 $348,088.24
812578102 SEATTLE GENETICS INC US SGEN 7,082.38 $370,408.24
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 53,802.58 $53,937.08
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 129,157.53 $126,319.55
81762P102 SERVICENOW INC US NOW 4,030.3 $599,991.08
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 23,477.49 $23,712.26
828806109 SIMON PROPERTY GROUP INC US SPG 494.01 $80,705.68
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 9,782.29 $9,745.60
83088M102 SKYWORKS SOLUTIONS INC US SWKS 6,647.06 $646,161.07
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 125,201.02 $124,083.58
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 537,725.18 $538,155.63
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 95,806.1 $95,361.25
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,367.15 $72,701.36
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 97,822.87 $96,986.44
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 93,420.61 $92,842.34
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 270,091.09 $270,641.86
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 225,001.44 $224,207.97
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 171,190.02 $171,303.62
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 215,210.31 $218,676.93
835495102 SONOCO PRODUCTS CO US SON 1,550.49 $84,207.24
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,377.1 $115,407.99
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 273,904.03 $281,342.09
844741108 SOUTHWEST AIRLS CO US LUV 714.11 $43,417.70
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 26,412.17 $26,874.39
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 10,760.52 $11,244.74
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 10,760.52 $11,356.88
85254J102 STAG INDUSTRIAL INC US STAG 1,946.68 $49,289.81
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 44,020.29 $43,470.04
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.77945 11/15/2027 US 259,373.86 $259,214.89
862121100 STORE CAPITAL CORP US STOR 1,628.75 $39,920.68
866674104 SUN COMMUNITIES US SUI 313.03 $27,809.87
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,144.53 $19,285.29
867914103 SUNTRUST BANKS INC US STI 425.53 $30,084.93
871829107 SYSCO CORP US SYY 811.93 $51,046.03
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,922.7 $177,737.40
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 47,933.2 $49,011.70
87612E106 TARGET CORP US TGT 787.47 $59,233.80
876664103 TAUBMAN CTRS INC US TCO 146.73 $9,046.17
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 34,238 $28,075.16
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 449,985.19 $443,339.05
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 10,760.52 $10,989.18
88146M101 TERRENO REALTY CORP US TRNO 317.92 $11,318.11
882508104 TEXAS INSTRUMENTS INC US TXN 3,854.22 $422,692.41
88579Y101 3M CO US MMM 919.54 $230,343.51
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 266,103.07 $262,827.88
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 216,188.54 $211,460.51
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,645.73 $191,789.97
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,216.23 $34,511.91
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,216.23 $37,505.29
902653104 UDR INC US UDR 674.98 $24,656.94
902973304 U.S. BANCORP US USB 1,775.49 $101,451.22
903002103 UMH PROPERTIES INC US UMH 983.12 $13,154.14
904767704 UNILEVER PLC - ADR GB UL 8,579.07 $484,459.83
907818108 UNION PAC CORP US UNP 890.19 $118,840.11
911312106 UNITED PARCEL SERVICE US UPS 899.97 $114,584.23
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 791,386.99 $1,080,552.38
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,256,045.61 $1,614,803.64
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 459,616.98 $457,414.39
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 843,233.11 $774,687.49
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 3,326,955.71 $3,310,710.81
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,019,372.35 $1,014,875.67
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 3,225,219.93 $3,166,888.80
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 3,368,041.31 $3,265,684.46
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 5,344,063.23 $5,118,610.56
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 451,292.3 $444,060.49
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 3,430,647.95 $3,332,418.86
913017109 UNITED TECHNOLOGIES CORP US UTX 787.47 $108,679.30
91704F104 URBAN EDGE PROPERTIES US UE 1,824.4 $42,654.39
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 9,782.29 $10,249.88
91913Y100 VALERO ENERGY US VLO 665.2 $63,838.81
92276F100 VENTAS INC US VTR 376.62 $21,079.31
92339V100 VEREIT INC US VER 3,061.86 $22,045.36
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 538,025.77 $553,011.77
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,790.16 $298,723.74
92826C839 VISA INC - CLASS A SHARES US V 3,189.03 $396,172.63
929042109 VORNADO REALTY TRUST US VNO 498.9 $35,760.91
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 346,935.84 $364,398.51
931142103 WAL MART STORES US WMT 2,078.74 $221,593.25
94106L109 WASTE MANAGEMENT INC US WM 1,281.48 $113,321.24
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 30,325.09 $30,600.74
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 34,238 $34,323.60
949746101 WELLS FARGO COMPANY US WFC 5,668.84 $372,895.98
95040Q104 WELLTOWER INC. US HCN 445.09 $26,692.29
962166104 WEYERHAEUSER CO US WY 9,772.5 $366,859.82
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 24,455.72 $24,730.84
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 20,542.8 $21,760.99
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 420,638.33 $417,680.36
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 124,747.98 $124,860.00
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 136,612.66 $136,356.51
98161FAD7 WOLS 2016-A A3 1.45000 08/15/2019 US 97,822.87 $97,281.85
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 26,412.17 $26,841.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 7,962.78 $292,234.08
B15C557 TOTAL SA FR FP FP 645.63 $37,433.86
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 32,281.55 $46,038.07
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 73.37 $18,810.36
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,412.17 $21,923.61
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 269,012.88 $14,018.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,281.55 $27,002.07
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 493,027.25 $25,492.23
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 58,693.72 $45,361.69
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 30,325.09 $24,742.06
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 717,041.62 $38,940.06
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 89,997.04 $4,853.73
BBG00GZ6J5V6 QRVO US 02/16/18 P60 US -20.54 -$780.63
BBG00H0CF017 REGN US 02/16/18 P360 US -2.93 -$2,834.91
BBG00H63SNZ0 MSFT US 02/16/18 P82.5 US -14.67 -$264.12
BBG00JJ057S6 ARNC US 02/16/18 C32 US -38.15 -$1,411.58
BBG00JJRT8R0 MA US 02/16/18 P140 US -7.83 -$62.61
BBG00JK3HBL3 SGEN US 02/16/18 C60 US -19.56 -$489.11
BBG00JL0VZ39 AMZN US 02/16/18 C1350 US -.98 -$11,968.63
BBG00JLFDD80 EA US 02/02/18 P97.5 US -11.74 -$58.69
BBG00JLGDG72 FB US 02/02/18 P170 US -6.85 -$342.38
BBG00JM09KM5 AMZN US 02/02/18 P1110 US -.98 -$66.52
BBG00JP6FK06 SWKS US 02/09/18 C112 US -10.76 -$107.61
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,547.51 $18,159.99
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 3,697.7 $218,487.91
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 425.53 $9,287.85
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 4,920.49 $557,295.70
G29183103 EATON CORP PLC US ETN 660.3 $55,445.76
G3157S106 ENSCO INTERNATIONAL INC US ESV 10,897.47 $64,295.06
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,238 $36,121.09
G5960L103 MEDTRONIC INC IE MDT 6,960.1 $597,802.73
G6518L108 NIELSEN HOLDINGS PLC US NLSN 11,640.92 $435,486.86
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 180.97 $29,040.63
G97822103 PERRIGO CO PLC IE PRGO 674.98 $61,166.49
H1467J104 CHUBB LTD CH CB 278.8 $43,533.87
H8817H100 TRANSOCEAN LTD US RIG 18,645.04 $201,179.97
N47279109 INTERXION HOLDING NX NL INXN 591.83 $37,137.23
N53745100 LYONDELLBASELL INDU-CL A US LYB 577.15 $69,166.25
USD US DOLLAR US 9,289,209.11 $9,289,209.11

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.

Daily Price

$9.83

Daily $ Change

$0.01

Daily % Change

0.10%

as of 02/22/2018

Ticker

MTDZX

CUSIP

56382R548

Inception Date

10/16/2017

This fund is available for qualified retirement plans only.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms
XBRL-03/14/17

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Pro-Blend® 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. Prior to 10/16/2017, the underlying funds were the Manning & Napier Fund, Inc. Pro-Blend Series. The annual report for the Blended Asset Series as of 10/31/2017 and the semi-annual report for the Pro-Blend Series as of 04/30/2017 are provided above.

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.

Learn more about our Glide Range SM

Annualized Performance

As of 01/31/2018

YTD

0.80%

1 Year

---

3 Year

---

5 Year

---

10 Year

---

Inception
(10/16/2017)

1.41%

Market Cycle

---

Inception performance is based on the Target Series Class I inception of 03/28/2008. For periods through 10/16/2017 (the inception date of the Class R6 shares), performance for the Class R6 shares is based on the historical performance of the Class I shares. Because the Class R6 shares invest in the same portfolio of securities as the Class I shares, performance will be different only to the extent that the Class I shares have a higher expense ratio. Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

Expense Ratio

Gross 0.62%
Net 0.50%*

*Includes acquired fund fees and expenses of the underlying Series. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date of 02/29/2028 without the approval of the Fund’s Board of Directors.

Top Ten Investments

As of 01/31/2018

TREASURY NOTES 17.26%
GOVERNMENT AGENCY 10.68%
TREASURY BONDS 3.29%
GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 1.20%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.96%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 0.92%
FACEBOOK INC -A 0.85%
KFW 1.50000 06/15/2021 0.77%
PRICELINE GROUP INC 0.75%
ASSURED GUARANTY US HLDG 5.00000 07/01/2024 0.71%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 01/31/2018

Bonds
65.85%
Stocks
26.05%
Cash
8.10%

Detailed Asset Class Allocation

As of 01/31/2018

International Equities
4.84%
Small Capitalization
0.94%
Mid Capitalization
3.00%
Large Capitalization
17.27%
Long Term Fixed Income
13.73%
Intermediate Term Fixed Income
42.32%
Short Term Fixed Income
9.80%
Cash
8.10%

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

January Fund Holdings

As of 01/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 2,807.52 $78,245.48
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 26,412.17 $25,091.57
00206REM0 AT&T INC 3.90000 08/14/2027 US 606,501.78 $603,858.71
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 493,027.25 $484,337.34
00287Y109 ABBVIE INC US ABBV 1,482.02 $166,311.88
004239109 ACADIA REALTY TRUST US AKR 425.53 $10,451.00
0045614 ANTOFAGASTA PLC GB ANTO LN 4,988.97 $66,029.11
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 518,461.2 $506,168.29
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 577,154.92 $600,046.87
008492100 AGREE REALTY CORP US ADC 190.75 $9,182.93
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 14,673.43 $15,388.76
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 37,172.69 $39,542.45
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 386.4 $50,116.12
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 410,856.04 $398,726.60
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 25,433.95 $26,069.79
020002101 ALLSTATE CORPORATION US ALL 264.12 $26,087.30
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 14,673.43 $14,732.12
02079K107 ALPHABET INC-CL C US GOOG 166.3 $194,559.70
02079K305 ALPHABET INC-CL A US GOOGL 166.3 $196,601.85
023135106 AMAZON.COM INC US AMZN 136.95 $198,702.31
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 283,686.31 $278,228.45
02319V103 AMBEV SA-ADR BR ABEV 58,615.46 $402,688.22
0237400 DIAGEO PLC GB DGE LN 14,130.51 $508,590.59
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 24,455.72 $25,005.97
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 445.09 $17,118.32
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,604.3 $33,353.29
026874784 AMERICAN INTL GROUP INC US AIG 391.29 $25,011.35
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 430,420.62 $447,020.83
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 596,719.49 $603,506.08
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 528,243.48 $511,987.87
03064D108 AMERICOLD REALTY TRUST US COLD 929.32 $16,987.92
031162100 AMGEN INC US AMGN 684.76 $127,399.61
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 15,651.66 $16,853.24
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 438,246.44 $433,384.14
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 381,509.18 $594,225.93
03748R101 APARTMENT INVT & MGMT CO -A US AIV 904.86 $37,859.41
03761U106 APOLLO INVESTMENT CORP US AINV 2,445.57 $14,062.04
037833100 APPLE COMPUTER INC US AAPL 494.01 $82,711.34
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 596,719.49 $592,429.34
03938LAQ7 ARCELORMITTAL 5.50000 08/05/2020 LU 9,782.29 $10,320.31
03965L100 ARCONIC INC. US ARNC 9,126.87 $274,353.82
04010L103 ARES CAPITAL CORP US ARCC 1,041.81 $16,616.93
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 562.48 $40,830.53
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 704,324.64 $753,782.28
053015103 AUTOMATIC DATA PROCESSING US ADP 547.81 $67,725.51
053484101 AVALONBAY COMMUNITIES INC US AVB 269.01 $45,839.80
054937107 BB & T CORPORATION US BBT 1,120.07 $61,816.76
055622104 BP PLC-SPONS ADR GB BP 3,047.18 $130,388.93
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 340,423.58 $349,014.59
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 111,518.07 $112,612.47
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 554,655.66 $536,501.94
058498106 BALL CORP US BLL 10,152.06 $388,620.75
060505104 BANK OF AMERICA CORP US BAC 5,121.03 $163,872.87
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 440,202.9 $450,345.90
06652K103 BANKUNITED INC US BKU 699.43 $28,704.75
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 177,059.39 $213,657.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 4,362.9 $393,664.46
09062X103 BIOGEN IDEC INC US BIIB 831.49 $289,202.06
09247X101 BLACKROCK INC US BLK 342.38 $192,349.10
09627J102 BLUEROCK RESIDENTIAL GROWTH US 841.28 $7,049.90
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 410,856.04 $452,361.07
097023105 BOEING CO US BA 557.59 $197,593.29
0989529 ASTRAZENECA PLC GB AZN LN 758.13 $52,624.07
101121101 BOSTON PROPERTIES INC US BXP 361.94 $44,776.17
105368203 BRANDYWINE REALTY TRUST US BDN 1,085.83 $19,479.86
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,362.9 $273,117.53
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 440.2 $7,144.49
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 616.28 $59,415.95
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 47,933.2 $44,817.55
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 4,891.14 $5,319.12
125896100 CMS ENERGY CORP US CMS 988.01 $44,213.49
12626K203 CRH PLC -SPONSORED ADR IE CRH 1,286.37 $48,097.40
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 533,134.63 $533,463.14
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 46,954.98 $45,781.10
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 161,618.13 $150,222.76
126650100 CVS HEALTH CORP US CVS 1,134.75 $89,293.10
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 254,339.45 $258,561.31
133131102 CAMDEN PROPERTY TRUST US CPT 224.99 $19,475.36
134429109 CAMPBELL SOUP CO US CPB 1,393.98 $64,889.58
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 195,645.73 $192,788.37
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 223,036.14 $220,650.07
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 7,517.69 $99,007.94
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 55,759.03 $56,525.72
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 24,455.72 $24,639.13
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 9,782.29 $10,118.61
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 34,238 $34,879.97
165183AF1 CFII 2016-2A A1 1.88000 06/15/2028 US 297,384.91 $296,604.24
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 146,734.3 $145,853.21
165240102 CHESAPEAKE LODGING TRUST US CHSP 743.45 $20,348.33
166764100 CHEVRON CORP US CVX 670.09 $83,995.36
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,183.66 $102,800.58
17275R102 CISCO SYSTEMS INC US CSCO 4,196.6 $174,326.81
172967424 CITIGROUP INC US C 1,951.57 $153,158.92
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 596,719.49 $601,278.14
194162103 COLGATE-PALMOLIVE CO US CL 983.12 $72,986.82
19625JAA1 CAH 2015-1A A 2.75375 07/17/2032 US 224,728.5 $225,470.54
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 7,097.05 $63,731.50
198287203 COLUMBIA PROPERTY TRUST INC US CXP 640.74 $14,025.79
199908104 COMFORT SYSTEMS US FIX 1,403.76 $59,800.10
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 264,121.74 $283,305.84
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,032.51 $80,786.04
20825C104 CONOCOPHILLIPS US COP 992.9 $58,392.57
20826FAD8 CONOCOPHILLIPS COMPANY 3.35000 11/15/2024 US 252,383 $256,862.67
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 47,933.2 $48,325.52
21871N101 CORECIVIC INC US CXW 2,695.02 $62,551.41
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 635,848.64 $627,302.83
222795106 COUSINS PROPERTIES INC US CUZ 4,881.36 $43,932.25
22282E102 COVANTA HOLDING CORP US CVA 3,727.05 $60,937.29
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 249,448.31 $248,234.59
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,455.72 $24,455.72
22822V101 CROWN CASTLE INTL CORP US CCI 997.79 $112,521.14
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 111,351.88 $104,129.82
229663109 CUBESMART US CUBE 1,785.27 $49,148.41
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 5,840.03 $87,078.10
23918K108 DAVITA INC. US DVA 7,962.78 $621,415.46
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 34,238 $34,109.61
247361702 DELTA AIR LINES INC. US DAL 782.58 $44,427.23
25271C102 DIAMOND OFFSHORE DRILLING US DO 7,698.66 $136,112.30
253393102 DICK'S SPORTING GOODS INC US DKS 2,445.57 $76,937.68
253868103 DIGITAL REALTY TRUST INC US DLR 606.5 $67,897.87
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 459,767.48 $448,324.61
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 9,782.29 $9,733.38
256677105 DOLLAR GENERAL CORP US DG 1,310.83 $135,172.42
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 254,339.45 $254,391.97
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 283,686.31 $294,767.37
26078J100 DOWDUPONT INC US DWDP 1,433.11 $108,314.08
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,216.23 $35,656.44
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 303,250.89 $297,976.15
28140H203 EDUCATION REALTY TRUST INC US EDR 269.01 $8,885.50
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 538,025.77 $555,904.45
285512109 ELECTRONIC ARTS US EA 2,572.74 $326,635.25
2866857 LUNDIN MINING CORP CA LUN CN 8,451.9 $61,087.28
291011104 EMERSON ELEC CO US EMR 875.51 $63,238.42
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 283,686.31 $279,863.58
29372EBF4 ENTERPRISE FLEET FINANCING LLC 1.64000 03/20/2020 US 138,474.95 $138,328.67
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 44,949.75 $44,918.27
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 33,259.77 $35,546.38
294429105 EQUIFAX INC US EFX 2,015.15 $251,752.82
29444U700 EQUINIX INC US EQIX 269.01 $122,451.97
294628102 EQUITY COMMONWEALTH US EQC 640.74 $19,164.53
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 195.65 $16,888.14
29476L107 EQUITY RESIDENTIAL US EQR 533.13 $32,846.42
297178105 ESSEX PROPERTY TRUST INC US ESS 34.24 $7,976.77
298736109 EURONET WORLDWIDE INC US EEFT 2,660.78 $249,767.60
30040W108 EVERSOURCE ENERGY US ES 650.52 $41,041.44
30161N101 EXELON CORP US EXC 679.87 $26,181.75
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 978,228.67 $968,401.39
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 2,396.66 $189,767.56
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 449,985.19 $448,991.39
30225T102 EXTRA SPACE STORAGE INC US EXR 357.05 $29,806.82
30231G102 EXXON MOBIL CORP US XOM 1,843.96 $160,977.80
302491303 FMC CORP US FMC 547.81 $50,031.31
30263FAL9 FREMF MORTGAGE TRUST FLT 4.79348 04/25/2044 US 133,039.1 $132,788.84
30287EAE0 FREMF 2014-K41 B FLT 3.83176 11/25/2047 US 267,056.43 $270,437.31
30291EAE4 FREMF 2013-K712 B FLT 3.36181 05/25/2045 US 132,060.87 $133,439.84
30291YAJ9 FREMF 2014-K716 B FLT 3.95028 08/25/2047 US 441,181.13 $448,032.81
30303M102 FACEBOOK INC -A US FB 4,803.1 $897,651.88
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 47,902.36 $53,620.75
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 45,898.55 $50,282.47
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 41,326.07 $45,319.89
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 228,434.62 $241,498.82
3128MJZU7 FHLM POOL G08754 4.50000 03/01/2047 US 184,307.15 $194,194.78
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 104,603.95 $111,135.54
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 142,064.38 $151,161.67
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 74,813.29 $78,158.68
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 225,207.79 $235,287.69
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 172,990.7 $182,980.06
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 172,607.23 $182,552.47
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 238,280.62 $241,824.61
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 112,776.88 $117,819.75
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 201,409.43 $204,402.04
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 267,372.18 $277,386.42
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 298,700.47 $302,102.58
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 257,919.1 $266,656.27
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 281,714.52 $291,257.78
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 153,762.29 $159,316.27
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 147,092.33 $155,553.54
31335AV54 FHLM POOL G60636 4.00000 01/01/2046 US 192,076.52 $198,583.24
3135G0ZR7 FEDERAL NATL MTG ASSN 2.62500 09/06/2024 US 2,128,625.59 $2,115,807.01
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 649,543.84 $657,858.98
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 711,172.24 $734,363.92
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 506,722.45 $507,041.89
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 334,554.21 $335,560.31
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 106,303.28 $119,287.37
3138EGHT4 FEDERAL NATL MTG ASSN AL0241 4.00000 04/01/2041 US 112,290.85 $116,529.37
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 165,277.53 $175,415.72
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 78,848.8 $88,016.65
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 86,131.99 $89,363.00
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65500 01/01/2049 US 176,601.2 $191,485.26
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 150,424.01 $160,549.81
3138WHMS8 FEDERAL NATL MTG ASSN AS7568 4.50000 07/01/2046 US 149,856.59 $158,019.89
3138Y6Y81 FEDERAL NATL MTG ASSN AX5234 4.50000 11/01/2044 US 145,080.03 $153,055.23
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 302,959.3 $306,717.03
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 128,927.22 $133,417.17
3140EWKL8 FEDERAL NATL MTG ASSN BC2098 4.00000 06/01/2046 US 132,799.49 $137,257.40
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 275,221.25 $278,097.58
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 217,069.19 $219,339.79
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 179,094.2 $185,836.74
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 111,921.6 $115,701.90
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 141,044.91 $145,808.90
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 103,051.58 $106,553.59
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 144,522.13 $153,238.40
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 547,671.22 $568,740.74
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 27,562.56 $28,458.21
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 32,956.73 $34,018.26
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 99,950.37 $109,708.22
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 107,929.81 $118,547.11
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 79,444.53 $89,387.79
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 89,246.03 $100,210.36
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 124,505.56 $132,382.06
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 101,367.75 $107,831.01
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 104,922.4 $111,627.77
31418BM37 FEDERAL NATL MTG ASSN MA2177 4.00000 02/01/2035 US 248,440.04 $259,114.19
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 554,945.51 $585,798.33
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 53,293.79 $58,465.72
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 61,021.66 $68,273.52
31428X106 FEDEX CORPORATION US FDX 1,115.18 $292,712.63
316773100 FIFTH THIRD BANCORP US FITB 997.79 $33,026.96
32054K103 FIRST INDUSTRIAL REALTY TR US FR 934.21 $28,829.67
345605109 FOREST CITY REALTY TRUST - A US FCE/A 821.71 $19,285.58
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 14,673.43 $15,037.29
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 298,359.74 $300,091.25
36143WAS0 GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 US 1,261,914.99 $1,261,300.69
36174X101 GGP INC US GGP 1,438 $33,117.05
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 92,931.72 $91,632.50
36251MAE1 GMALT 2016-3 A4 1.78000 05/20/2020 US 220,101.45 $218,801.62
363576109 ARTHUR J GALLAGHER & CO US AJG 435.31 $29,740.50
369604103 GENERAL ELEC CO US GE 1,618.97 $26,178.72
370334104 GENERAL MLS INC US GIS 831.49 $48,634.11
371559105 GENESEE & WYOMING INC -CL A US GWR 2,562.96 $204,652.29
374297109 GETTY REALTY CORP US GTY 860.84 $22,588.47
375558103 GILEAD SCIENCES INC US GILD 1,291.26 $108,207.74
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 44,020.29 $45,065.77
37954A204 GLOBAL MEDICAL REIT INC US GMRE 5,199.29 $41,698.27
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 293,468.6 $301,485.98
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 6,133.49 $99,055.92
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 39,129.15 $40,205.20
404119BM0 HCA INC 3.75000 03/15/2019 US 10,760.52 $10,881.89
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 10,760.52 $11,459.95
40414L109 HCP INC US HCP 1,746.14 $42,047.01
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 24,455.72 $24,700.27
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 733.67 $20,256.67
42809H107 HESS CORP US HES 2,621.65 $132,419.68
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 40,107.38 $41,310.60
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 25,433.95 $25,815.45
437076102 HOME DEPOT INC US HD 1,110.29 $223,057.17
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,205.91 $77,846.41
438516106 HONEYWELL INTERNATIONAL INC US HON 709.22 $113,240.48
44107P104 HOST MARRIOTT CORP US HST 909.75 $18,886.47
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,671.95 $60,268.67
446150104 HUNTINGTON BANCSHARES US HBAN 1,799.94 $29,123.04
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 33,259.77 $33,176.63
45337C102 INCYTE CORP US INCY 2,885.77 $260,556.59
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,398.87 $12,855.59
456788108 INFOSYS LIMITED-SP ADR IN INFY 3,130.33 $56,377.27
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 97,822.87 $97,089.20
458140100 INTEL CORP US INTC 5,644.38 $271,720.43
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 846.17 $138,517.67
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 25,433.95 $26,568.15
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 293,468.6 $286,495.87
46186YAA2 IHSFR 2015-SFR3 A FLT 2.85945 08/17/2032 US 251,973.47 $252,989.05
46187BAA1 IHSFR 2017-SFR2 A 2.40614 12/17/2036 US 77,931.27 $78,416.93
46187BAB9 IHSFR 2017-SFR2 B 2.70614 12/17/2036 US 58,693.72 $59,055.79
46187W107 INVITATION HOMES INC US INVH 1,376.37 $30,954.51
464287739 ISHARES DJ US REAL ESTATE US 430.42 $33,813.84
46434V621 ISHARES CORE DIVIDEND GROWTH US 366.84 $13,371.16
466032109 J&J SNACK FOODS CORP US JJSF 376.62 $52,139.00
46625H100 JP MORGAN CHASE & CO US JPM 3,810.2 $440,725.91
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 93,742.48 $93,918.25
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 127,762.03 $126,818.76
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 567,372.63 $559,813.25
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 352,944.96 $352,393.49
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 348,933.78 $351,864.12
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 374,780.73 $372,081.56
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 241,890.7 $241,437.16
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 289,468.91 $291,718.95
478160104 JOHNSON & JOHNSON US JNJ 5,316.67 $734,711.02
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 53,802.58 $54,273.35
485170302 KANSAS CITY SOUTHERN US KSU 875.51 $99,046.97
493267108 KEYCORP US KEY 2,680.35 $57,359.42
494368103 KIMBERLY CLARK CORP US KMB 445.09 $52,076.00
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 31,303.32 $32,242.42
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 1,349.96 $55,024.19
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 586,937.2 $572,974.46
500769GZ1 KFW 1.50000 06/15/2021 DE 842,254.89 $814,893.56
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 23,477.49 $23,947.04
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 34,238 $35,350.74
512816109 LAMAR ADVERTISING CO US LAMR 547.81 $39,442.18
517942108 LASALLE HOTEL PROPERTIES US LHO 440.2 $13,443.80
53223X107 LIFE STORAGE INC US LSI 244.56 $20,322.70
532457108 ELI LILLY & CO US LLY 626.07 $50,993.10
534187109 LINCOLN NATL CORP IND US LNC 366.84 $30,374.00
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 653,456.75 $673,735.17
539830109 LOCKHEED MARTIN CORP US LMT 293.47 $104,137.33
550021109 LULULEMON - ADR CA LULU 3,756.4 $293,787.90
554382101 THE MACERICH CO US MAC 278.8 $18,001.80
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 391,291.47 $407,995.52
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 38,150.92 $37,015.93
5671735 SANOFI-AVENTIS FR SAN FP 552.7 $48,776.90
57636Q104 MASTERCARD INC-CLASS A US MA 2,357.53 $398,422.76
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 34,238 $35,222.35
580135101 MCDONALDS CORP US MCD 684.76 $117,189.84
58503F106 MEDLEY CAPITAL CORP US MCC 2,044.5 $10,406.49
58933Y105 MERCK & CO INC US MRK 7,160.63 $424,267.56
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 24,455.72 $24,761.41
594918104 MICROSOFT CORP US MSFT 4,519.42 $429,389.76
59522J103 MID-AMERICA APARTMENT COMM US MAA 322.82 $30,786.91
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 410,856.04 $444,551.16
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 381,509.18 $393,145.21
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 29,346.86 $29,200.13
624758108 MUELLER WATER PRODUCTS INC - A US MWA 4,524.31 $52,617.70
62942M201 NTT DOCOMO INC -SPON ADR JP DCM 3,873.79 $96,650.95
62944TAE5 NVR INC 3.95000 09/15/2022 US 449,985.19 $464,278.29
637417106 NATIONAL RETAIL PROPERTIES US NNN 484.22 $19,213.98
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 117,563.78 $119,070.16
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 127,189.42 $128,942.14
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 163,270.46 $165,417.21
651229106 NEWELL BRANDS INC US NWL 3,042.29 $80,438.18
654106103 NIKE INC CLASS B US NKE 679.87 $46,380.66
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 25,433.95 $25,592.91
66987V109 NOVARTIS AG- REG CH NVS 5,991.65 $539,608.05
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 269.01 $71,205.02
67401P108 OAKTREE SPECIALTY LENDING CO US OCSL 2,528.72 $12,491.88
680223104 OLD REPUBLIC INTL CORP US ORI 1,261.92 $27,118.55
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 206,406.25 $206,350.97
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 201,515.11 $198,766.55
69007J106 OUTFRONT MEDIA INC US OUT 1,579.84 $35,388.40
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 39,129.15 $40,394.97
693475105 PNC FINANCIAL SERVICES GROUP US PNC 200.54 $31,688.84
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 18,586.34 $17,749.96
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 1,398.87 $28,844.64
708062104 PENNANTPARK INVESTMENT CORP US PNNT 1,961.35 $13,219.49
713448108 PEPSICO INC US PEP 1,628.75 $195,938.71
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 293,468.6 $296,607.27
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 264,121.74 $298,853.75
717081103 PFIZER INC US PFE 4,881.36 $180,805.61
71943U104 PHYSICIANS REALTY TRUST US DOC 1,936.89 $31,571.35
729640102 PLYMOUTH INDUSTRIAL REIT INC US 269.01 $4,740.01
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 40,107.38 $41,450.97
741503403 PRICELINE GROUP INC US PCLN 410.86 $785,577.29
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 606,501.78 $603,174.01
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 381.51 $25,790.02
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 146,734.3 $143,392.65
74340W103 PROLOGIS US PLD 973.34 $63,374.01
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 273,904.03 $299,924.91
74460D109 PUBLIC STORAGE INC US PSA 151.63 $29,682.20
74736K101 QORVO INC US QRVO 8,833.4 $633,973.47
747525103 QUALCOMM INC US QCOM 1,662.99 $113,498.98
749685103 RPM INTERNATIONAL INC US RPM 1,633.64 $85,276.11
755111507 RAYTHEON COMPANY US RTN 361.94 $75,624.71
758849103 REGENCY CENTERS CORP US REG 322.82 $20,308.32
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,281.48 $469,854.48
7591EP100 REGIONS FINANCIAL CORP. US RF 1,682.55 $32,355.50
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 386.4 $11,472.23
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 45,976.75 $48,275.58
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 10,760.52 $11,676.68
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 836.39 $60,161.21
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.50945 11/15/2026 US 432,377.07 $431,104.54
78442FET1 SLM CORP 6.12500 03/25/2024 US 24,455.72 $24,944.83
78442PGC4 SLM CORP 5.12500 04/05/2022 US 44,020.29 $45,450.95
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 128,273.94 $127,125.08
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 273,904.03 $268,667.75
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 273,904.03 $305,015.38
80105N105 SANOFI-AVENTIS-ADR FR SNY 2,455.35 $107,863.70
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 391,291.47 $386,320.13
806857108 SCHLUMBERGER LTD NL SLB 5,262.87 $387,241.99
808524797 SCHWAB US DVD EQUITY ETF US 248.47 $13,293.15
81211K100 SEALED AIR CORP US SEE 7,351.39 $348,088.24
812578102 SEATTLE GENETICS INC US SGEN 7,082.38 $370,408.24
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 53,802.58 $53,937.08
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 129,157.53 $126,319.55
81762P102 SERVICENOW INC US NOW 4,030.3 $599,991.08
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 23,477.49 $23,712.26
828806109 SIMON PROPERTY GROUP INC US SPG 494.01 $80,705.68
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 9,782.29 $9,745.60
83088M102 SKYWORKS SOLUTIONS INC US SWKS 6,647.06 $646,161.07
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 125,201.02 $124,083.58
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 537,725.18 $538,155.63
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 95,806.1 $95,361.25
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,367.15 $72,701.36
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 97,822.87 $96,986.44
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 93,420.61 $92,842.34
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 270,091.09 $270,641.86
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 225,001.44 $224,207.97
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 171,190.02 $171,303.62
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 215,210.31 $218,676.93
835495102 SONOCO PRODUCTS CO US SON 1,550.49 $84,207.24
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,377.1 $115,407.99
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 273,904.03 $281,342.09
844741108 SOUTHWEST AIRLS CO US LUV 714.11 $43,417.70
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 26,412.17 $26,874.39
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 10,760.52 $11,244.74
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 10,760.52 $11,356.88
85254J102 STAG INDUSTRIAL INC US STAG 1,946.68 $49,289.81
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 44,020.29 $43,470.04
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.77945 11/15/2027 US 259,373.86 $259,214.89
862121100 STORE CAPITAL CORP US STOR 1,628.75 $39,920.68
866674104 SUN COMMUNITIES US SUI 313.03 $27,809.87
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,144.53 $19,285.29
867914103 SUNTRUST BANKS INC US STI 425.53 $30,084.93
871829107 SYSCO CORP US SYY 811.93 $51,046.03
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,922.7 $177,737.40
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 47,933.2 $49,011.70
87612E106 TARGET CORP US TGT 787.47 $59,233.80
876664103 TAUBMAN CTRS INC US TCO 146.73 $9,046.17
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 34,238 $28,075.16
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 449,985.19 $443,339.05
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 10,760.52 $10,989.18
88146M101 TERRENO REALTY CORP US TRNO 317.92 $11,318.11
882508104 TEXAS INSTRUMENTS INC US TXN 3,854.22 $422,692.41
88579Y101 3M CO US MMM 919.54 $230,343.51
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 266,103.07 $262,827.88
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 216,188.54 $211,460.51
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,645.73 $191,789.97
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,216.23 $34,511.91
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,216.23 $37,505.29
902653104 UDR INC US UDR 674.98 $24,656.94
902973304 U.S. BANCORP US USB 1,775.49 $101,451.22
903002103 UMH PROPERTIES INC US UMH 983.12 $13,154.14
904767704 UNILEVER PLC - ADR GB UL 8,579.07 $484,459.83
907818108 UNION PAC CORP US UNP 890.19 $118,840.11
911312106 UNITED PARCEL SERVICE US UPS 899.97 $114,584.23
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 791,386.99 $1,080,552.38
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,256,045.61 $1,614,803.64
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 459,616.98 $457,414.39
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 843,233.11 $774,687.49
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 3,326,955.71 $3,310,710.81
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,019,372.35 $1,014,875.67
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 3,225,219.93 $3,166,888.80
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 3,368,041.31 $3,265,684.46
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 5,344,063.23 $5,118,610.56
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 451,292.3 $444,060.49
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 3,430,647.95 $3,332,418.86
913017109 UNITED TECHNOLOGIES CORP US UTX 787.47 $108,679.30
91704F104 URBAN EDGE PROPERTIES US UE 1,824.4 $42,654.39
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 9,782.29 $10,249.88
91913Y100 VALERO ENERGY US VLO 665.2 $63,838.81
92276F100 VENTAS INC US VTR 376.62 $21,079.31
92339V100 VEREIT INC US VER 3,061.86 $22,045.36
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 538,025.77 $553,011.77
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,790.16 $298,723.74
92826C839 VISA INC - CLASS A SHARES US V 3,189.03 $396,172.63
929042109 VORNADO REALTY TRUST US VNO 498.9 $35,760.91
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 346,935.84 $364,398.51
931142103 WAL MART STORES US WMT 2,078.74 $221,593.25
94106L109 WASTE MANAGEMENT INC US WM 1,281.48 $113,321.24
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 30,325.09 $30,600.74
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 34,238 $34,323.60
949746101 WELLS FARGO COMPANY US WFC 5,668.84 $372,895.98
95040Q104 WELLTOWER INC. US HCN 445.09 $26,692.29
962166104 WEYERHAEUSER CO US WY 9,772.5 $366,859.82
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 24,455.72 $24,730.84
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 20,542.8 $21,760.99
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 420,638.33 $417,680.36
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 124,747.98 $124,860.00
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 136,612.66 $136,356.51
98161FAD7 WOLS 2016-A A3 1.45000 08/15/2019 US 97,822.87 $97,281.85
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 26,412.17 $26,841.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 7,962.78 $292,234.08
B15C557 TOTAL SA FR FP FP 645.63 $37,433.86
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 32,281.55 $46,038.07
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 73.37 $18,810.36
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,412.17 $21,923.61
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 269,012.88 $14,018.00
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,281.55 $27,002.07
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 493,027.25 $25,492.23
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 58,693.72 $45,361.69
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 30,325.09 $24,742.06
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 717,041.62 $38,940.06
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 89,997.04 $4,853.73
BBG00GZ6J5V6 QRVO US 02/16/18 P60 US -20.54 -$780.63
BBG00H0CF017 REGN US 02/16/18 P360 US -2.93 -$2,834.91
BBG00H63SNZ0 MSFT US 02/16/18 P82.5 US -14.67 -$264.12
BBG00JJ057S6 ARNC US 02/16/18 C32 US -38.15 -$1,411.58
BBG00JJRT8R0 MA US 02/16/18 P140 US -7.83 -$62.61
BBG00JK3HBL3 SGEN US 02/16/18 C60 US -19.56 -$489.11
BBG00JL0VZ39 AMZN US 02/16/18 C1350 US -.98 -$11,968.63
BBG00JLFDD80 EA US 02/02/18 P97.5 US -11.74 -$58.69
BBG00JLGDG72 FB US 02/02/18 P170 US -6.85 -$342.38
BBG00JM09KM5 AMZN US 02/02/18 P1110 US -.98 -$66.52
BBG00JP6FK06 SWKS US 02/09/18 C112 US -10.76 -$107.61
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,547.51 $18,159.99
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 3,697.7 $218,487.91
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 425.53 $9,287.85
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 4,920.49 $557,295.70
G29183103 EATON CORP PLC US ETN 660.3 $55,445.76
G3157S106 ENSCO INTERNATIONAL INC US ESV 10,897.47 $64,295.06
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,238 $36,121.09
G5960L103 MEDTRONIC INC IE MDT 6,960.1 $597,802.73
G6518L108 NIELSEN HOLDINGS PLC US NLSN 11,640.92 $435,486.86
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 180.97 $29,040.63
G97822103 PERRIGO CO PLC IE PRGO 674.98 $61,166.49
H1467J104 CHUBB LTD CH CB 278.8 $43,533.87
H8817H100 TRANSOCEAN LTD US RIG 18,645.04 $201,179.97
N47279109 INTERXION HOLDING NX NL INXN 591.83 $37,137.23
N53745100 LYONDELLBASELL INDU-CL A US LYB 577.15 $69,166.25
USD US DOLLAR US 9,289,209.11 $9,289,209.11

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 R6 Distribution History
  • 2018 Distribution Calendar
  • Fourth Quarter 2017 Distributions
  • Third Quarter 2017 Distributions
  • Second Quarter 2017 Distributions
  • First Quarter 2017 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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