Investment Objective

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

Investment Strategy

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

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$9.84

Daily $ Change

-$0.01

Daily % Change

-0.10%

as of 05/17/2018

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-3/20/18

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 04/30/2018

YTD

-1.51%

1 Year

2.73%

3 Year

2.30%

5 Year

3.10%

10 Year

4.68%

Inception
(03/28/2008)

4.72%

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 0.67%
Net 0.52%*

*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 04/30/2018

TREASURY NOTES 18.42%
GOVERNMENT AGENCY 8.79%
TREASURY BILLS 4.10%
TREASURY BONDS 3.36%
GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 1.11%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.99%
MORGAN STANLEY FLT 3.01070 05/08/2024 0.93%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.92%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.92%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 0.92%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Bonds 69.56%
Stocks 28.28%
Cash 2.16%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities 5.95%
Small Capitalization 1.02%
Mid Capitalization 3.01%
Large Capitalization 18.31%
Long Term Fixed Income 17.49%
Intermediate Term Fixed Income 33.68%
Short Term Fixed Income 18.38%
Cash 2.16%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 3,121.13 $72,628.75
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 26,550.28 $26,417.52
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 698,173.91 $693,099.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 495,605.14 $486,214.07
00287Y109 ABBVIE INC US ABBV 1,665.78 $160,831.44
004239109 ACADIA REALTY TRUST US AKR 526.09 $12,415.70
0045614 ANTOFAGASTA PLC GB ANTO LN 8,540.34 $114,107.57
008492100 AGREE REALTY CORP US ADC 236 $11,535.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 14,750.15 $15,321.72
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 181.92 $22,661.59
01609W102 ALIBABA GROUP - ADR CN BABA 1,858.52 $331,820.03
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,111,178.2 $1,046,162.07
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 25,566.93 $25,822.60
020002101 ALLSTATE CORPORATION US ALL 339.25 $33,185.78
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 29,500.31 $29,485.56
02079K107 ALPHABET INC-CL C US GOOG 206.5 $210,080.83
02079K305 ALPHABET INC-CL A US GOOGL 206.5 $210,338.95
023135106 AMAZON.COM INC US AMZN 68.83 $107,803.07
02319V103 AMBEV SA-ADR BR ABEV 58,921.94 $390,063.27
0237400 DIAGEO PLC GB DGE LN 15,158.24 $540,769.03
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 673.59 $26,344.12
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,305.94 $46,580.00
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 717,840.78 $690,135.01
026874784 AMERICAN INTL GROUP INC US AIG 511.34 $28,634.96
03027X100 AMERICAN TOWER REIT INC US AMT 771.92 $105,259.65
03064D108 AMERICOLD REALTY TRUST US COLD 629.34 $12,970.69
031162100 AMGEN INC US AMGN 765.04 $133,484.40
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 727,674.22 $685,525.63
03748R101 APARTMENT INVT & MGMT CO -A US AIV 845.68 $34,334.42
037612306 APOLLO GLOBAL MANAGMENT - A US APO 1,465.18 $42,255.85
037833100 APPLE COMPUTER INC US AAPL 668.67 $110,505.00
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,160.35 $20,874.61
04014Y101 ARES MANAGEMENT LP US ARES 1,445.52 $31,801.33
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 708,007.35 $734,666.57
053015103 AUTOMATIC DATA PROCESSING US ADP 656.87 $77,563.62
053484101 AVALONBAY COMMUNITIES INC US AVB 550.67 $89,759.60
055622104 BP PLC-SPONS ADR GB BP 3,274.53 $146,011.47
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 557,555.79 $531,381.38
058498106 BALL CORP US BLL 10,205.14 $409,124.03
060505104 BANK OF AMERICA CORP US BAC 6,637.57 $198,596.06
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,062,011.02 $1,049,688.45
06652K103 BANKUNITED INC US BKU 889.93 $35,249.96
088606108 BHP LIMITED-SPONS ADR AU BHP 2,159.42 $100,953.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,418.22 $452,475.79
09062X103 BIOGEN IDEC INC US BIIB 1,180.01 $322,851.35
09247X101 BLACKROCK INC US BLK 816.18 $425,635.33
09253U108 BLACKSTONE GROUP LP/THE US BX 1,475.02 $45,651.72
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,042.34 $9,370.67
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 973,510.1 $1,038,481.17
097023105 BOEING CO US BA 553.62 $184,666.29
09857L108 BOOKING HOLDINGS INC US BKNG 432.67 $942,357.78
0989529 ASTRAZENECA PLC GB AZN LN 993.18 $69,525.19
101121101 BOSTON PROPERTIES INC US BXP 437.59 $53,127.54
105368203 BRANDYWINE REALTY TRUST US BDN 1,332.43 $21,465.46
110122108 BRISTOL MYERS SQUIBB CO US BMY 6,617.9 $344,991.23
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 275.34 $29,518.79
11135F101 BROADCOM INC US AVGO 386.45 $88,660.28
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 48,183.83 $45,292.80
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 24,583.59 $23,937.04
125896100 CMS ENERGY CORP US CMS 1,302.93 $61,485.28
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 535,922.23 $526,663.00
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 47,200.49 $44,220.96
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 158,770.54 $147,900.44
126650100 CVS HEALTH CORP US CVS 1,316.7 $91,944.95
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 255,669.32 $256,650.45
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 196,668.71 $193,191.88
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 224,202.33 $220,843.53
149123101 CATERPILLAR INC US CAT 559.52 $80,772.66
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 10,256.27 $133,741.80
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 56,050.58 $53,318.12
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 44,250.46 $43,254.82
165183AF1 CFII 2016-2A A1 1.88000 06/15/2028 US 254,477.8 $253,084.34
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 137,292.36 $136,335.42
165240102 CHESAPEAKE LODGING TRUST US CHSP 599.84 $17,719.26
166764100 CHEVRON CORP US CVX 860.43 $107,647.85
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,371.76 $133,801.88
17275R102 CISCO SYSTEMS INC US CSCO 4,456.51 $197,378.96
172967424 CITIGROUP INC US C 2,428.86 $165,818.17
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 708,007.35 $1,025,425.64
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 19,666.87 $19,765.21
194162103 COLGATE-PALMOLIVE CO US CL 1,279.33 $83,450.69
19625JAA1 CAH 2015-1A A 3.09713 07/17/2032 US 225,152.38 $225,152.02
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 8,446.92 $51,610.69
198287203 COLUMBIA PROPERTY TRUST INC US CXP 658.84 $14,072.83
199908104 COMFORT SYSTEMS US FIX 1,475.02 $62,245.65
20030N101 COMCAST CORP-CL A US CMCSA 3,623.62 $113,745.46
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,299.12 $84,127.50
2099084 BORALEX INC -A CA BLX CN 1,784.77 $31,901.90
21871N101 CORECIVIC INC US CXW 3,500.7 $70,574.17
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 619,506.43 $694,378.37
222795106 COUSINS PROPERTIES INC US CUZ 6,357.32 $56,516.54
22282E102 COVANTA HOLDING CORP US CVA 4,906.88 $73,112.58
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 250,752.6 $249,210.33
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,583.59 $24,337.75
22822V101 CROWN CASTLE INTL CORP US CCI 899.76 $90,758.72
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 109,051.22 $100,709.01
229663109 CUBESMART US CUBE 1,873.27 $55,149.05
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 19,666.87 $20,699.38
23918K108 DAVITA INC. US DVA 5,339.56 $335,270.68
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 34,417.02 $32,617.01
247361702 DELTA AIR LINES INC. US DAL 983.34 $51,350.20
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,036.93 $166,189.09
253393102 DICK'S SPORTING GOODS INC US DKS 1,824.1 $60,359.54
253868103 DIGITAL REALTY TRUST INC US DLR 934.18 $98,733.10
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 717,840.78 $702,102.63
256677105 DOLLAR GENERAL CORP US DG 1,239.01 $119,601.91
26078J100 DOWDUPONT INC US DWDP 1,858.52 $117,532.76
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,400.37 $35,842.87
269246401 ETRADE FINANCIAL CORP US ETFC 3,776.04 $229,130.06
2715777 QUEBECOR INC -CL B CA QBR/B CN 5,752.56 $107,259.85
277276101 EASTGROUP PROPERTIES US EGP 103.25 $9,269.88
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 5,251.05 $107,928.92
285512109 ELECTRONIC ARTS US EA 2,586.19 $305,119.11
2866857 LUNDIN MINING CORP CA LUN CN 16,534.92 $109,464.42
291011104 EMERSON ELEC CO US EMR 985.31 $65,434.45
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 15,060.82 $15,052.38
294429105 EQUIFAX INC US EFX 2,261.69 $253,422.38
29444U700 EQUINIX INC US EQIX 432.67 $182,063.70
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 319.59 $28,494.35
29476L107 EQUITY RESIDENTIAL US EQR 658.84 $40,657.03
297178105 ESSEX PROPERTY TRUST INC US ESS 118 $28,283.71
30161N101 EXELON CORP US EXC 914.51 $36,287.74
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 983,343.54 $963,208.60
30225T102 EXTRA SPACE STORAGE INC US EXR 452.34 $40,524.96
30231G102 EXXON MOBIL CORP US XOM 3,264.7 $253,830.47
302491303 FMC CORP US FMC 1,184.93 $94,474.39
30287EAE0 FREMF 2014-K41 B FLT 3.96226 11/25/2047 US 268,452.79 $265,074.50
30291EAE4 FREMF 2013-K712 B FLT 3.47714 05/25/2045 US 132,751.38 $133,171.92
30291YAJ9 FREMF 2014-K716 B FLT 4.08158 08/25/2047 US 443,487.94 $450,508.21
30303M102 FACEBOOK INC -A US FB 4,130.04 $710,367.37
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 45,709.76 $50,890.92
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 43,691.71 $47,740.65
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 39,323.81 $42,971.70
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 218,016.15 $227,983.14
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 98,426.01 $103,038.11
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 135,211.78 $142,218.96
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 72,015.42 $74,215.71
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 218,327.44 $224,998.78
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 171,353.51 $180,376.99
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 168,402.93 $177,264.15
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 237,910.36 $238,195.80
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 106,234.78 $109,877.06
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 191,842.88 $192,073.00
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 255,564.51 $261,178.02
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 291,391.45 $290,057.16
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 258,174.75 $263,403.13
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 282,069.71 $287,705.81
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 146,825.44 $150,050.67
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 140,714.04 $148,114.92
31335AV54 FHLM POOL G60636 4.00000 01/01/2046 US 181,353.71 $185,564.14
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 652,940.11 $651,207.60
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 714,890.75 $724,661.95
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 509,371.95 $502,687.41
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 336,303.49 $334,002.70
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 424,804.41 $433,285.59
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 99,146.38 $110,446.04
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 158,465.07 $166,601.02
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 73,416.85 $81,492.82
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 83,465.88 $85,650.83
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65100 01/01/2049 US 170,061.69 $183,212.66
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 132,433.43 $139,658.89
3138WHU26 FEDERAL NATL MTGE ASSN FN AS7800 3.00000 08/01/2046 US 580,715.49 $561,082.90
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 302,917.33 $301,465.73
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 122,736.69 $125,282.69
3140EWKL8 FEDERAL NATL MTG ASSN BC2098 4.00000 06/01/2046 US 129,813.77 $132,329.95
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 266,380.6 $264,849.30
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 208,441.46 $207,210.77
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 179,275.43 $182,981.22
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 106,356.17 $108,433.36
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 141,163.84 $143,920.84
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 103,130.26 $105,155.14
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 141,362.3 $148,314.12
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 542,608.46 $553,795.96
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 24,336.44 $24,988.91
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,007.05 $29,767.81
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 95,396.41 $104,258.62
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 101,289.23 $110,686.39
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 75,280.59 $83,947.67
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 87,706.63 $97,767.68
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 117,919.58 $124,090.04
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 98,147.88 $102,721.31
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 97,386.48 $102,399.26
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 340,177.18 $328,677.01
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 532,681.12 $556,148.35
31418CV43 FEDERAL NATL MTG ASSN FN MA3334 4.50000 04/01/2048 US 539,569.45 $563,618.57
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 49,991.29 $54,571.83
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 56,357.96 $62,624.46
31428X106 FEDEX CORPORATION US FDX 1,258.68 $311,145.63
316773100 FIFTH THIRD BANCORP US FITB 1,253.76 $41,587.32
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,293.1 $40,228.24
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 14,750.15 $14,123.27
345605109 FOREST CITY REALTY TRUST - A US FCE/A 988.26 $19,824.50
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 14,750.15 $14,939.47
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 299,919.78 $299,676.58
36143WAS0 GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 US 1,268,513.16 $1,260,792.99
36174X101 GGP INC US GGP 1,135.76 $22,703.88
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 93,417.64 $92,077.62
36251MAE1 GMALT 2016-3 A4 1.78000 05/20/2020 US 221,252.3 $219,411.83
363576109 ARTHUR J GALLAGHER & CO US AJG 535.92 $37,509.20
369604103 GENERAL ELEC CO US GE 968.59 $13,628.11
371559105 GENESEE & WYOMING INC -CL A US GWR 2,891.03 $205,841.34
374297109 GETTY REALTY CORP US GTY 727.67 $18,228.24
375558103 GILEAD SCIENCES INC US GILD 1,589.08 $114,779.48
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 44,250.46 $43,476.08
37954A204 GLOBAL MEDICAL REIT INC US GMRE 1,470.1 $11,452.07
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 245,835.88 $219,683.13
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 7,901.17 $112,986.66
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 39,333.74 $38,940.40
40414L109 HCP INC US HCP 1,789.69 $41,807.05
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 24,583.59 $23,600.24
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 914.51 $22,853.59
42809H107 HESS CORP US HES 1,312.76 $74,814.40
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 40,317.09 $39,913.91
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 25,566.93 $25,388.73
437076102 HOME DEPOT INC US HD 1,084.63 $200,439.24
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,528.18 $86,868.14
438516106 HONEYWELL INTERNATIONAL INC US HON 845.68 $122,352.32
44107P104 HOST MARRIOTT CORP US HST 2,369.86 $46,354.42
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,983.96 $58,634.32
446150104 HUNTINGTON BANCSHARES US HBAN 2,305.94 $34,381.57
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 33,433.68 $32,430.67
45337C102 INCYTE CORP US INCY 12,301.63 $761,962.82
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,681.52 $15,806.26
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 98,334.35 $94,892.65
458140100 INTEL CORP US INTC 7,822.5 $403,797.34
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,006.94 $145,966.57
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 704,073.97 $727,173.38
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 1,111,178.2 $1,037,914.11
46186YAA2 IHSFR 2015-SFR3 A FLT 3.19563 08/17/2032 US 251,438.67 $251,997.50
46187BAA1 IHSFR 2017-SFR2 A 2.74550 12/17/2036 US 78,308.09 $78,430.39
46187BAB9 IHSFR 2017-SFR2 B 3.04550 12/17/2036 US 59,000.61 $59,174.94
46187W107 INVITATION HOMES INC US INVH 2,007.99 $46,464.83
464287598 ISHARES RUSSELL 1000 VALUE US 403.17 $48,517.58
466032109 J&J SNACK FOODS CORP US JJSF 491.67 $67,560.62
46625H100 JP MORGAN CHASE & CO US JPM 4,091.69 $445,094.31
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 1,012,843.84 $1,048,557.65
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 90,728.57 $89,169.21
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 122,511.61 $121,205.14
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 341,134.43 $334,630.02
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 341,120.75 $337,682.93
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 366,388.95 $357,200.65
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 235,409.63 $230,922.25
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 279,363.69 $276,373.66
478160104 JOHNSON & JOHNSON US JNJ 6,416.32 $811,599.89
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 54,083.89 $43,267.12
485170302 KANSAS CITY SOUTHERN US KSU 924.34 $98,562.69
493267108 KEYCORP US KEY 3,338.45 $66,501.95
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 875,175.75 $1,038,655.66
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 31,466.99 $32,253.67
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 1,544.83 $65,222.84
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 590,006.12 $575,140.84
500754106 KRAFT HEINZ CO/THE US KHC 1,264.58 $71,297.01
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 23,600.24 $22,892.24
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 44,250.46 $44,416.40
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 29,500.31 $30,016.56
512816109 LAMAR ADVERTISING CO US LAMR 688.34 $43,854.17
53223X107 LIFE STORAGE INC US LSI 137.67 $12,175.37
532457108 ELI LILLY & CO US LLY 1,837.87 $148,996.05
534187109 LINCOLN NATL CORP IND US LNC 447.42 $31,605.84
539830109 LOCKHEED MARTIN CORP US LMT 336.3 $107,899.61
550021109 LULULEMON - ADR CA LULU 3,776.04 $376,848.71
554382101 THE MACERICH CO US MAC 265.5 $15,298.27
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 38,350.4 $36,912.26
56585A102 MARATHON PETROLEUM CORP US MPC 769.96 $57,677.55
5671735 SANOFI-AVENTIS FR SAN FP 712.92 $56,365.35
57636Q104 MASTERCARD INC-CLASS A US MA 3,215.53 $573,233.13
580135101 MCDONALDS CORP US MCD 874.19 $146,374.78
58933Y105 MERCK & CO INC US MRK 8,311.22 $489,281.50
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 39,333.74 $37,317.89
594918104 MICROSOFT CORP US MSFT 6,981.74 $652,932.24
59522J103 MID-AMERICA APARTMENT COMM US MAA 565.42 $51,713.55
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 3,128.02 $123,556.62
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 1,032,510.72 $1,052,848.10
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 73,750.77 $73,013.26
624758108 MUELLER WATER PRODUCTS INC - A US MWA 5,654.23 $55,354.87
637417106 NATIONAL RETAIL PROPERTIES US NNN 417.92 $15,897.71
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 29,500.31 $30,827.82
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 111,118.02 $110,986.65
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 119,487.43 $119,945.70
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 156,412.15 $156,674.20
651229106 NEWELL BRANDS INC US NWL 2,192.86 $60,588.61
654106103 NIKE INC CLASS B US NKE 840.76 $57,499.49
66987V109 NOVARTIS AG- REG CH NVS 7,360.33 $564,463.43
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 319.59 $81,836.55
680223104 OLD REPUBLIC INTL CORP US ORI 1,627.43 $33,199.64
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 207,485.49 $207,186.79
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 202,568.77 $199,621.81
69007J106 OUTFRONT MEDIA INC US OUT 1,917.52 $35,953.50
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 44,250.46 $45,135.47
693475105 PNC FINANCIAL SERVICES GROUP US PNC 250.75 $36,512.09
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 43,267.12 $41,428.26
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 1,666.77 $30,301.83
713448108 PEPSICO INC US PEP 1,937.19 $195,539.63
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 295,003.06 $294,626.70
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 1,091,511.33 $1,000,915.89
717081103 PFIZER INC US PFE 5,399.54 $197,677.14
71943U104 PHYSICIANS REALTY TRUST US DOC 2,433.78 $36,360.60
729640102 PLYMOUTH INDUSTRIAL REIT INC US 324.5 $5,581.46
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 40,317.09 $41,022.63
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 1,081,677.89 $1,048,546.93
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 491.67 $29,116.80
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 147,501.53 $142,639.76
74340W103 PROLOGIS US PLD 1,538.93 $99,892.12
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 658,840.17 $700,841.23
74460D109 PUBLIC STORAGE INC US PSA 270.42 $54,565.24
74736K101 QORVO INC US QRVO 12,183.63 $821,176.42
749685103 RPM INTERNATIONAL INC US RPM 850.59 $41,083.60
758849103 REGENCY CENTERS CORP US REG 403.17 $23,726.60
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,956.85 $594,257.31
7591EP100 REGIONS FINANCIAL CORP. US RF 2,138.77 $39,995.04
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 393.34 $12,016.46
767204100 RIO TINTO PLC - SPON ADR GB RIO 1,605.8 $88,238.71
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 24,583.59 $25,451.63
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,081.68 $78,335.11
78408XAD3 SCGT 2013-SRP1 AJ FLT 4.09688 11/15/2026 US 434,637.84 $433,725.71
78410G104 SBA COMMUNICATIONS CORP US SBAC 683.42 $109,504.99
78442PGC4 SLM CORP 5.12500 04/05/2022 US 39,333.74 $39,727.08
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 116,825.54 $115,299.51
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 275,336.19 $268,403.44
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 963,676.67 $1,046,561.80
80105N105 SANOFI-AVENTIS-ADR FR SNY 2,995.26 $117,773.80
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 717,840.78 $695,517.46
806857108 SCHLUMBERGER LTD NL SLB 6,411.4 $439,565.58
808513105 CHARLES SCHWAB CORP/THE US SCHW 8,058.5 $448,697.30
81211K100 SEALED AIR CORP US SEE 9,356.51 $410,283.13
812578102 SEATTLE GENETICS INC US SGEN 7,689.75 $393,638.12
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 54,083.89 $51,514.91
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 127,375.99 $122,577.20
81762P102 SERVICENOW INC US NOW 2,556.69 $424,769.01
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 23,600.24 $22,951.24
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 29,500.31 $29,942.81
828806109 SIMON PROPERTY GROUP INC US SPG 717.84 $112,227.23
83088M102 SKYWORKS SOLUTIONS INC US SWKS 5,369.06 $465,819.27
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 115,614.15 $113,168.42
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 496,425.61 $492,468.60
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 85,842.7 $85,077.45
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,750.77 $71,842.85
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 98,334.35 $96,989.34
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 71,803.74 $71,170.15
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 238,827.42 $238,170.86
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 173,744.5 $172,557.59
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 160,252.3 $159,163.54
835495102 SONOCO PRODUCTS CO US SON 2,035.52 $104,544.36
844741108 SOUTHWEST AIRLS CO US LUV 909.59 $48,053.79
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 26,550.28 $26,019.27
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 10,816.78 $11,121.01
85254J102 STAG INDUSTRIAL INC US STAG 2,473.11 $60,764.29
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.11688 11/15/2027 US 258,968.59 $259,213.21
862121100 STORE CAPITAL CORP US STOR 688.34 $17,366.83
866674104 SUN COMMUNITIES US SUI 432.67 $40,606.19
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,833.94 $28,609.40
867914103 SUNTRUST BANKS INC US STI 531.01 $35,471.17
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 19,666.87 $20,297.19
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,093.72 $195,853.52
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 48,183.83 $48,906.59
87612E106 TARGET CORP US TGT 901.73 $65,465.31
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 34,417.02 $30,373.02
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 727,674.22 $691,507.15
88146M101 TERRENO REALTY CORP US TRNO 319.59 $11,872.64
88161DAA9 TESLA 2018-A A 2.32000 12/20/2019 US 198,697.43 $197,872.66
882508104 TEXAS INSTRUMENTS INC US TXN 4,391.61 $445,441.23
88579Y101 3M CO US MMM 912.54 $177,389.20
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 256,128.71 $250,922.02
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 217,144.5 $210,426.96
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,668.71 $189,740.36
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,400.37 $33,940.10
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,400.37 $36,274.76
902653104 UDR INC US UDR 1,440.6 $52,077.63
902973304 U.S. BANCORP US USB 2,057.15 $103,783.45
903002103 UMH PROPERTIES INC US UMH 1,160.35 $15,699.47
904767704 UNILEVER PLC - ADR GB UL 9,805.9 $548,836.32
907818108 UNION PAC CORP US UNP 915.49 $122,337.31
911312106 UNITED PARCEL SERVICE US UPS 1,056.11 $119,868.59
912796PY9 TREASURY BILL 0.00000 09/06/2018 US 4,695,465.4 $4,663,945.02
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 893,859.28 $1,191,276.99
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,380,614.33 $1,731,160.94
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 574,723.36 $558,792.89
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,004,977.1 $896,549.50
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 6,933,555.29 $6,888,053.83
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,138,896.03 $1,129,340.40
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 3,512,503.12 $3,435,667.11
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 2,492,775.87 $2,356,939.05
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,204,595.83 $1,092,606.06
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 6,404,516.47 $6,096,799.43
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 563,996.79 $550,894.72
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,130,845.07 $1,080,840.52
913017109 UNITED TECHNOLOGIES CORP US UTX 956.79 $114,958.71
91704F104 URBAN EDGE PROPERTIES US UE 1,873.27 $38,533.15
91913Y100 VALERO ENERGY US VLO 649.01 $71,994.32
92276F100 VENTAS INC US VTR 383.5 $19,719.77
92339V100 VEREIT INC US VER 2,507.53 $17,051.18
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 983,343.54 $1,048,283.44
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,012.84 $155,127.16
92826C839 VISA INC - CLASS A SHARES US V 3,422.04 $434,187.87
929042109 VORNADO REALTY TRUST US VNO 604.76 $41,141.57
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 346,196.47 $359,760.51
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 44,250.46 $45,246.09
931142103 WAL MART STORES US WMT 2,553.74 $225,904.12
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,061.03 $70,505.29
94106L109 WASTE MANAGEMENT INC US WM 1,170.18 $95,123.84
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 23,600.24 $23,305.24
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 34,417.02 $33,384.51
949746101 WELLS FARGO COMPANY US WFC 6,413.37 $333,238.53
95040Q104 WELLTOWER INC. US WELL 452.34 $24,172.94
962166104 WEYERHAEUSER CO US WY 10,202.19 $375,236.52
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 24,583.59 $24,614.32
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 20,650.21 $20,934.15
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 117,048.62 $117,201.17
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 131,860.37 $129,759.37
98161FAD7 WOLS 2016-A A3 1.45000 08/15/2019 US 98,334.35 $97,755.97
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 26,550.28 $27,678.66
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 8,682.92 $315,190.12
B15C557 TOTAL SA FR FP FP 850.59 $53,461.13
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 132.75 $31,869.55
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 2,945.11 $31,057.94
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,550.28 $21,004.69
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 270,419.47 $14,108.42
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,450.34 $25,932.47
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 495,605.14 $25,669.80
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 59,000.61 $44,910.73
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 720,790.81 $39,067.97
B68XHC3 NORTHLAND POWER INC CA NPI CN 1,730.68 $31,204.76
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,467.61 $4,904.36
BBG00HRBPKX0 REGN US 05/18/18 C360 US -2.95 -$144.55
BBG00JH41PQ6 QRVO US 05/18/18 P62.5 US -20.65 -$2,581.28
BBG00K3YL815 BKNG US 05/18/18 P1990 US -.98 -$1,588.10
BBG00K996BS5 AMZN US 04/27/18 P1350 US -.98 $0.00
BBG00KC00T34 EA US 05/18/18 P110 US -10.82 -$1,709.05
BBG00KCT50R3 SGEN US 05/18/18 C55 US -22.62 -$2,623.56
BBG00KD5VQ43 ZAYO 05/18/18 C40 US -31.47 -$314.67
BBG00KHC9JX3 SWKS US 05/11/18 P85 US -14.75 -$3,097.53
BBG00KJ2JW81 BABA US 05/25/18 P160 CN -7.87 -$849.61
BBG00KQTTLF9 TXN US 05/18/18 P92 US -13.77 -$481.84
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 196,668.71 $187,818.62
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 11,760.79 $21,076.23
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 4,395.55 $216,097.89
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 501.51 $10,631.47
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 8,904.18 $276,013.02
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 5,703.39 $566,537.97
G3157S106 ENSCO INTERNATIONAL INC US ESV 15,074.66 $85,171.81
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,417.02 $36,482.05
G5960L103 MEDTRONIC INC IE MDT 7,796.93 $624,768.07
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 221.25 $32,858.18
G97822103 PERRIGO CO PLC IE PRGO 535.92 $41,876.96
H1467J104 CHUBB LTD CH CB 344.17 $46,693.58
H8817H100 TRANSOCEAN LTD US RIG 21,181.22 $262,011.69
N47279109 INTERXION HOLDING NX NL INXN 904.68 $58,822.04
N53745100 LYONDELLBASELL INDU-CL A US LYB 624.42 $66,020.26
USD US DOLLAR US 2,516,845.45 $2,516,845.45

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Conservative Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Conservative Series beginning 10/16/2017. Investments will change over time. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

Daily Price

$9.84

Daily $ Change

-$0.01

Daily % Change

-0.10%

as of 05/17/2018

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-3/20/18

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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Annualized Performance

As of 04/30/2018

YTD

-1.51%

1 Year

2.73%

3 Year

2.30%

5 Year

3.10%

10 Year

4.68%

Inception
(03/28/2008)

4.72%

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 0.67%
Net 0.52%*

*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 04/30/2018

TREASURY NOTES 18.42%
GOVERNMENT AGENCY 8.79%
TREASURY BILLS 4.10%
TREASURY BONDS 3.36%
GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 1.11%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 0.99%
MORGAN STANLEY FLT 3.01070 05/08/2024 0.93%
BANK OF AMERICA CORP 4.00000 01/22/2025 0.92%
JPMORGAN CHASE & CO 6.30000 04/23/2019 0.92%
PRICELINE GROUP INC/THE 3.60000 06/01/2026 0.92%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Bonds
69.56%
Stocks
28.28%
Cash
2.16%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities
5.95%
Small Capitalization
1.02%
Mid Capitalization
3.01%
Large Capitalization
18.31%
Long Term Fixed Income
17.49%
Intermediate Term Fixed Income
33.68%
Short Term Fixed Income
18.38%
Cash
2.16%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
000375204 ABB LTD-SPON ADR CH ABB 3,121.13 $72,628.75
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 26,550.28 $26,417.52
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 698,173.91 $693,099.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 495,605.14 $486,214.07
00287Y109 ABBVIE INC US ABBV 1,665.78 $160,831.44
004239109 ACADIA REALTY TRUST US AKR 526.09 $12,415.70
0045614 ANTOFAGASTA PLC GB ANTO LN 8,540.34 $114,107.57
008492100 AGREE REALTY CORP US ADC 236 $11,535.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 14,750.15 $15,321.72
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 181.92 $22,661.59
01609W102 ALIBABA GROUP - ADR CN BABA 1,858.52 $331,820.03
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,111,178.2 $1,046,162.07
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 25,566.93 $25,822.60
020002101 ALLSTATE CORPORATION US ALL 339.25 $33,185.78
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 29,500.31 $29,485.56
02079K107 ALPHABET INC-CL C US GOOG 206.5 $210,080.83
02079K305 ALPHABET INC-CL A US GOOGL 206.5 $210,338.95
023135106 AMAZON.COM INC US AMZN 68.83 $107,803.07
02319V103 AMBEV SA-ADR BR ABEV 58,921.94 $390,063.27
0237400 DIAGEO PLC GB DGE LN 15,158.24 $540,769.03
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 673.59 $26,344.12
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,305.94 $46,580.00
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 717,840.78 $690,135.01
026874784 AMERICAN INTL GROUP INC US AIG 511.34 $28,634.96
03027X100 AMERICAN TOWER REIT INC US AMT 771.92 $105,259.65
03064D108 AMERICOLD REALTY TRUST US COLD 629.34 $12,970.69
031162100 AMGEN INC US AMGN 765.04 $133,484.40
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 727,674.22 $685,525.63
03748R101 APARTMENT INVT & MGMT CO -A US AIV 845.68 $34,334.42
037612306 APOLLO GLOBAL MANAGMENT - A US APO 1,465.18 $42,255.85
037833100 APPLE COMPUTER INC US AAPL 668.67 $110,505.00
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,160.35 $20,874.61
04014Y101 ARES MANAGEMENT LP US ARES 1,445.52 $31,801.33
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 708,007.35 $734,666.57
053015103 AUTOMATIC DATA PROCESSING US ADP 656.87 $77,563.62
053484101 AVALONBAY COMMUNITIES INC US AVB 550.67 $89,759.60
055622104 BP PLC-SPONS ADR GB BP 3,274.53 $146,011.47
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 557,555.79 $531,381.38
058498106 BALL CORP US BLL 10,205.14 $409,124.03
060505104 BANK OF AMERICA CORP US BAC 6,637.57 $198,596.06
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,062,011.02 $1,049,688.45
06652K103 BANKUNITED INC US BKU 889.93 $35,249.96
088606108 BHP LIMITED-SPONS ADR AU BHP 2,159.42 $100,953.00
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,418.22 $452,475.79
09062X103 BIOGEN IDEC INC US BIIB 1,180.01 $322,851.35
09247X101 BLACKROCK INC US BLK 816.18 $425,635.33
09253U108 BLACKSTONE GROUP LP/THE US BX 1,475.02 $45,651.72
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,042.34 $9,370.67
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 973,510.1 $1,038,481.17
097023105 BOEING CO US BA 553.62 $184,666.29
09857L108 BOOKING HOLDINGS INC US BKNG 432.67 $942,357.78
0989529 ASTRAZENECA PLC GB AZN LN 993.18 $69,525.19
101121101 BOSTON PROPERTIES INC US BXP 437.59 $53,127.54
105368203 BRANDYWINE REALTY TRUST US BDN 1,332.43 $21,465.46
110122108 BRISTOL MYERS SQUIBB CO US BMY 6,617.9 $344,991.23
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 275.34 $29,518.79
11135F101 BROADCOM INC US AVGO 386.45 $88,660.28
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 48,183.83 $45,292.80
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 24,583.59 $23,937.04
125896100 CMS ENERGY CORP US CMS 1,302.93 $61,485.28
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 535,922.23 $526,663.00
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 47,200.49 $44,220.96
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 158,770.54 $147,900.44
126650100 CVS HEALTH CORP US CVS 1,316.7 $91,944.95
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 255,669.32 $256,650.45
14041NFF3 CAPITAL ONE MULTI-ASSET 1.33000 06/15/2022 US 196,668.71 $193,191.88
14314WAD3 CARMX 2017-3 A3 1.97000 04/15/2022 US 224,202.33 $220,843.53
149123101 CATERPILLAR INC US CAT 559.52 $80,772.66
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 10,256.27 $133,741.80
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 56,050.58 $53,318.12
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 44,250.46 $43,254.82
165183AF1 CFII 2016-2A A1 1.88000 06/15/2028 US 254,477.8 $253,084.34
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 137,292.36 $136,335.42
165240102 CHESAPEAKE LODGING TRUST US CHSP 599.84 $17,719.26
166764100 CHEVRON CORP US CVX 860.43 $107,647.85
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 1,371.76 $133,801.88
17275R102 CISCO SYSTEMS INC US CSCO 4,456.51 $197,378.96
172967424 CITIGROUP INC US C 2,428.86 $165,818.17
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 708,007.35 $1,025,425.64
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 19,666.87 $19,765.21
194162103 COLGATE-PALMOLIVE CO US CL 1,279.33 $83,450.69
19625JAA1 CAH 2015-1A A 3.09713 07/17/2032 US 225,152.38 $225,152.02
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 8,446.92 $51,610.69
198287203 COLUMBIA PROPERTY TRUST INC US CXP 658.84 $14,072.83
199908104 COMFORT SYSTEMS US FIX 1,475.02 $62,245.65
20030N101 COMCAST CORP-CL A US CMCSA 3,623.62 $113,745.46
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,299.12 $84,127.50
2099084 BORALEX INC -A CA BLX CN 1,784.77 $31,901.90
21871N101 CORECIVIC INC US CXW 3,500.7 $70,574.17
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 619,506.43 $694,378.37
222795106 COUSINS PROPERTIES INC US CUZ 6,357.32 $56,516.54
22282E102 COVANTA HOLDING CORP US CVA 4,906.88 $73,112.58
22530LAA4 CAALT 2017-1A A 2.56000 10/15/2025 US 250,752.6 $249,210.33
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 24,583.59 $24,337.75
22822V101 CROWN CASTLE INTL CORP US CCI 899.76 $90,758.72
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 109,051.22 $100,709.01
229663109 CUBESMART US CUBE 1,873.27 $55,149.05
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 19,666.87 $20,699.38
23918K108 DAVITA INC. US DVA 5,339.56 $335,270.68
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 34,417.02 $32,617.01
247361702 DELTA AIR LINES INC. US DAL 983.34 $51,350.20
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,036.93 $166,189.09
253393102 DICK'S SPORTING GOODS INC US DKS 1,824.1 $60,359.54
253868103 DIGITAL REALTY TRUST INC US DLR 934.18 $98,733.10
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 717,840.78 $702,102.63
256677105 DOLLAR GENERAL CORP US DG 1,239.01 $119,601.91
26078J100 DOWDUPONT INC US DWDP 1,858.52 $117,532.76
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 35,400.37 $35,842.87
269246401 ETRADE FINANCIAL CORP US ETFC 3,776.04 $229,130.06
2715777 QUEBECOR INC -CL B CA QBR/B CN 5,752.56 $107,259.85
277276101 EASTGROUP PROPERTIES US EGP 103.25 $9,269.88
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 5,251.05 $107,928.92
285512109 ELECTRONIC ARTS US EA 2,586.19 $305,119.11
2866857 LUNDIN MINING CORP CA LUN CN 16,534.92 $109,464.42
291011104 EMERSON ELEC CO US EMR 985.31 $65,434.45
29372EBL1 ENTERPRISE FLEET FINANCING FLT 1.59000 02/22/2021 US 15,060.82 $15,052.38
294429105 EQUIFAX INC US EFX 2,261.69 $253,422.38
29444U700 EQUINIX INC US EQIX 432.67 $182,063.70
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 319.59 $28,494.35
29476L107 EQUITY RESIDENTIAL US EQR 658.84 $40,657.03
297178105 ESSEX PROPERTY TRUST INC US ESS 118 $28,283.71
30161N101 EXELON CORP US EXC 914.51 $36,287.74
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 983,343.54 $963,208.60
30225T102 EXTRA SPACE STORAGE INC US EXR 452.34 $40,524.96
30231G102 EXXON MOBIL CORP US XOM 3,264.7 $253,830.47
302491303 FMC CORP US FMC 1,184.93 $94,474.39
30287EAE0 FREMF 2014-K41 B FLT 3.96226 11/25/2047 US 268,452.79 $265,074.50
30291EAE4 FREMF 2013-K712 B FLT 3.47714 05/25/2045 US 132,751.38 $133,171.92
30291YAJ9 FREMF 2014-K716 B FLT 4.08158 08/25/2047 US 443,487.94 $450,508.21
30303M102 FACEBOOK INC -A US FB 4,130.04 $710,367.37
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 45,709.76 $50,890.92
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 43,691.71 $47,740.65
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 39,323.81 $42,971.70
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 218,016.15 $227,983.14
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 98,426.01 $103,038.11
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 135,211.78 $142,218.96
3128P8BT7 FHLM POOL C91850 4.00000 09/01/2035 US 72,015.42 $74,215.71
3128P8BX8 FHLM POOL C91854 4.00000 10/01/2035 US 218,327.44 $224,998.78
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 171,353.51 $180,376.99
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 168,402.93 $177,264.15
3132J8YK0 FHLM POOL Q17513 3.50000 04/01/2043 US 237,910.36 $238,195.80
3132LNE34 FHLM POOL K92054 4.00000 10/01/2034 US 106,234.78 $109,877.06
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 191,842.88 $192,073.00
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 255,564.51 $261,178.02
3132WF3E7 FHLM POOL Q42596 3.50000 08/01/2046 US 291,391.45 $290,057.16
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 258,174.75 $263,403.13
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 282,069.71 $287,705.81
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 146,825.44 $150,050.67
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 140,714.04 $148,114.92
31335AV54 FHLM POOL G60636 4.00000 01/01/2046 US 181,353.71 $185,564.14
3137B4WB8 FHMS K033 A2 3.06000 07/25/2023 US 652,940.11 $651,207.60
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 714,890.75 $724,661.95
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 509,371.95 $502,687.41
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 336,303.49 $334,002.70
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 424,804.41 $433,285.59
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 99,146.38 $110,446.04
3138EHR87 FEDERAL NATL MTG ASSN AL1410 4.50000 12/01/2041 US 158,465.07 $166,601.02
3138EHXZ0 FEDERAL NATL MTG ASSN AL1595 6.00000 01/01/2040 US 73,416.85 $81,492.82
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 83,465.88 $85,650.83
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65100 01/01/2049 US 170,061.69 $183,212.66
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 132,433.43 $139,658.89
3138WHU26 FEDERAL NATL MTGE ASSN FN AS7800 3.00000 08/01/2046 US 580,715.49 $561,082.90
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 302,917.33 $301,465.73
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 122,736.69 $125,282.69
3140EWKL8 FEDERAL NATL MTG ASSN BC2098 4.00000 06/01/2046 US 129,813.77 $132,329.95
3140EX2Y8 FEDERAL NATL MTG ASSN BC3490 3.50000 02/01/2046 US 266,380.6 $264,849.30
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 208,441.46 $207,210.77
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 179,275.43 $182,981.22
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 106,356.17 $108,433.36
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 141,163.84 $143,920.84
3140FPGZ6 FEDERAL NATL MTG ASSN BE3815 4.00000 12/01/2046 US 103,130.26 $105,155.14
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 141,362.3 $148,314.12
3140Q7HT7 FEDERAL NATL MTG ASSN FN CA0241 4.00000 08/01/2047 US 542,608.46 $553,795.96
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 24,336.44 $24,988.91
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 29,007.05 $29,767.81
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 95,396.41 $104,258.62
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 101,289.23 $110,686.39
31416BRR1 FEDERAL NATL MTG ASSN 995196 6.00000 07/01/2038 US 75,280.59 $83,947.67
31417FB72 FEDERAL NATL MTG ASSN AB8161 6.00000 12/01/2037 US 87,706.63 $97,767.68
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 117,919.58 $124,090.04
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 98,147.88 $102,721.31
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 97,386.48 $102,399.26
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 340,177.18 $328,677.01
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 532,681.12 $556,148.35
31418CV43 FEDERAL NATL MTG ASSN FN MA3334 4.50000 04/01/2048 US 539,569.45 $563,618.57
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 49,991.29 $54,571.83
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 56,357.96 $62,624.46
31428X106 FEDEX CORPORATION US FDX 1,258.68 $311,145.63
316773100 FIFTH THIRD BANCORP US FITB 1,253.76 $41,587.32
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,293.1 $40,228.24
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 14,750.15 $14,123.27
345605109 FOREST CITY REALTY TRUST - A US FCE/A 988.26 $19,824.50
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 14,750.15 $14,939.47
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 299,919.78 $299,676.58
36143WAS0 GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 US 1,268,513.16 $1,260,792.99
36174X101 GGP INC US GGP 1,135.76 $22,703.88
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 93,417.64 $92,077.62
36251MAE1 GMALT 2016-3 A4 1.78000 05/20/2020 US 221,252.3 $219,411.83
363576109 ARTHUR J GALLAGHER & CO US AJG 535.92 $37,509.20
369604103 GENERAL ELEC CO US GE 968.59 $13,628.11
371559105 GENESEE & WYOMING INC -CL A US GWR 2,891.03 $205,841.34
374297109 GETTY REALTY CORP US GTY 727.67 $18,228.24
375558103 GILEAD SCIENCES INC US GILD 1,589.08 $114,779.48
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 44,250.46 $43,476.08
37954A204 GLOBAL MEDICAL REIT INC US GMRE 1,470.1 $11,452.07
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 245,835.88 $219,683.13
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 7,901.17 $112,986.66
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 39,333.74 $38,940.40
40414L109 HCP INC US HCP 1,789.69 $41,807.05
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 24,583.59 $23,600.24
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 914.51 $22,853.59
42809H107 HESS CORP US HES 1,312.76 $74,814.40
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 40,317.09 $39,913.91
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 25,566.93 $25,388.73
437076102 HOME DEPOT INC US HD 1,084.63 $200,439.24
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 2,528.18 $86,868.14
438516106 HONEYWELL INTERNATIONAL INC US HON 845.68 $122,352.32
44107P104 HOST MARRIOTT CORP US HST 2,369.86 $46,354.42
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 59,983.96 $58,634.32
446150104 HUNTINGTON BANCSHARES US HBAN 2,305.94 $34,381.57
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 33,433.68 $32,430.67
45337C102 INCYTE CORP US INCY 12,301.63 $761,962.82
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 1,681.52 $15,806.26
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 98,334.35 $94,892.65
458140100 INTEL CORP US INTC 7,822.5 $403,797.34
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,006.94 $145,966.57
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 704,073.97 $727,173.38
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 1,111,178.2 $1,037,914.11
46186YAA2 IHSFR 2015-SFR3 A FLT 3.19563 08/17/2032 US 251,438.67 $251,997.50
46187BAA1 IHSFR 2017-SFR2 A 2.74550 12/17/2036 US 78,308.09 $78,430.39
46187BAB9 IHSFR 2017-SFR2 B 3.04550 12/17/2036 US 59,000.61 $59,174.94
46187W107 INVITATION HOMES INC US INVH 2,007.99 $46,464.83
464287598 ISHARES RUSSELL 1000 VALUE US 403.17 $48,517.58
466032109 J&J SNACK FOODS CORP US JJSF 491.67 $67,560.62
46625H100 JP MORGAN CHASE & CO US JPM 4,091.69 $445,094.31
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 1,012,843.84 $1,048,557.65
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 90,728.57 $89,169.21
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 122,511.61 $121,205.14
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 341,134.43 $334,630.02
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 341,120.75 $337,682.93
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 366,388.95 $357,200.65
46649HAC6 JPMMT 2017-6 A3 3.50000 12/25/2048 US 235,409.63 $230,922.25
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 279,363.69 $276,373.66
478160104 JOHNSON & JOHNSON US JNJ 6,416.32 $811,599.89
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 54,083.89 $43,267.12
485170302 KANSAS CITY SOUTHERN US KSU 924.34 $98,562.69
493267108 KEYCORP US KEY 3,338.45 $66,501.95
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 875,175.75 $1,038,655.66
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 31,466.99 $32,253.67
500472303 KONINKLIJKE PHILIPS NVR - NY ADR NL PHG 1,544.83 $65,222.84
500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 590,006.12 $575,140.84
500754106 KRAFT HEINZ CO/THE US KHC 1,264.58 $71,297.01
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 23,600.24 $22,892.24
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 44,250.46 $44,416.40
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 29,500.31 $30,016.56
512816109 LAMAR ADVERTISING CO US LAMR 688.34 $43,854.17
53223X107 LIFE STORAGE INC US LSI 137.67 $12,175.37
532457108 ELI LILLY & CO US LLY 1,837.87 $148,996.05
534187109 LINCOLN NATL CORP IND US LNC 447.42 $31,605.84
539830109 LOCKHEED MARTIN CORP US LMT 336.3 $107,899.61
550021109 LULULEMON - ADR CA LULU 3,776.04 $376,848.71
554382101 THE MACERICH CO US MAC 265.5 $15,298.27
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 38,350.4 $36,912.26
56585A102 MARATHON PETROLEUM CORP US MPC 769.96 $57,677.55
5671735 SANOFI-AVENTIS FR SAN FP 712.92 $56,365.35
57636Q104 MASTERCARD INC-CLASS A US MA 3,215.53 $573,233.13
580135101 MCDONALDS CORP US MCD 874.19 $146,374.78
58933Y105 MERCK & CO INC US MRK 8,311.22 $489,281.50
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 39,333.74 $37,317.89
594918104 MICROSOFT CORP US MSFT 6,981.74 $652,932.24
59522J103 MID-AMERICA APARTMENT COMM US MAA 565.42 $51,713.55
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 3,128.02 $123,556.62
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 1,032,510.72 $1,052,848.10
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 73,750.77 $73,013.26
624758108 MUELLER WATER PRODUCTS INC - A US MWA 5,654.23 $55,354.87
637417106 NATIONAL RETAIL PROPERTIES US NNN 417.92 $15,897.71
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 29,500.31 $30,827.82
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 111,118.02 $110,986.65
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 119,487.43 $119,945.70
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 156,412.15 $156,674.20
651229106 NEWELL BRANDS INC US NWL 2,192.86 $60,588.61
654106103 NIKE INC CLASS B US NKE 840.76 $57,499.49
66987V109 NOVARTIS AG- REG CH NVS 7,360.33 $564,463.43
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 319.59 $81,836.55
680223104 OLD REPUBLIC INTL CORP US ORI 1,627.43 $33,199.64
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 207,485.49 $207,186.79
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 202,568.77 $199,621.81
69007J106 OUTFRONT MEDIA INC US OUT 1,917.52 $35,953.50
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 44,250.46 $45,135.47
693475105 PNC FINANCIAL SERVICES GROUP US PNC 250.75 $36,512.09
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 43,267.12 $41,428.26
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 1,666.77 $30,301.83
713448108 PEPSICO INC US PEP 1,937.19 $195,539.63
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 295,003.06 $294,626.70
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 1,091,511.33 $1,000,915.89
717081103 PFIZER INC US PFE 5,399.54 $197,677.14
71943U104 PHYSICIANS REALTY TRUST US DOC 2,433.78 $36,360.60
729640102 PLYMOUTH INDUSTRIAL REIT INC US 324.5 $5,581.46
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 40,317.09 $41,022.63
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 1,081,677.89 $1,048,546.93
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 491.67 $29,116.80
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 147,501.53 $142,639.76
74340W103 PROLOGIS US PLD 1,538.93 $99,892.12
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 658,840.17 $700,841.23
74460D109 PUBLIC STORAGE INC US PSA 270.42 $54,565.24
74736K101 QORVO INC US QRVO 12,183.63 $821,176.42
749685103 RPM INTERNATIONAL INC US RPM 850.59 $41,083.60
758849103 REGENCY CENTERS CORP US REG 403.17 $23,726.60
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,956.85 $594,257.31
7591EP100 REGIONS FINANCIAL CORP. US RF 2,138.77 $39,995.04
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 393.34 $12,016.46
767204100 RIO TINTO PLC - SPON ADR GB RIO 1,605.8 $88,238.71
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 24,583.59 $25,451.63
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,081.68 $78,335.11
78408XAD3 SCGT 2013-SRP1 AJ FLT 4.09688 11/15/2026 US 434,637.84 $433,725.71
78410G104 SBA COMMUNICATIONS CORP US SBAC 683.42 $109,504.99
78442PGC4 SLM CORP 5.12500 04/05/2022 US 39,333.74 $39,727.08
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 116,825.54 $115,299.51
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 275,336.19 $268,403.44
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 963,676.67 $1,046,561.80
80105N105 SANOFI-AVENTIS-ADR FR SNY 2,995.26 $117,773.80
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 717,840.78 $695,517.46
806857108 SCHLUMBERGER LTD NL SLB 6,411.4 $439,565.58
808513105 CHARLES SCHWAB CORP/THE US SCHW 8,058.5 $448,697.30
81211K100 SEALED AIR CORP US SEE 9,356.51 $410,283.13
812578102 SEATTLE GENETICS INC US SGEN 7,689.75 $393,638.12
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 54,083.89 $51,514.91
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 127,375.99 $122,577.20
81762P102 SERVICENOW INC US NOW 2,556.69 $424,769.01
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 23,600.24 $22,951.24
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 29,500.31 $29,942.81
828806109 SIMON PROPERTY GROUP INC US SPG 717.84 $112,227.23
83088M102 SKYWORKS SOLUTIONS INC US SWKS 5,369.06 $465,819.27
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 115,614.15 $113,168.42
831641FE0 SBIC 2015-10B 1 2.82900 09/10/2025 US 496,425.61 $492,468.60
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 85,842.7 $85,077.45
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 73,750.77 $71,842.85
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 98,334.35 $96,989.34
83404FAB0 SOFI 2017-A A2A 1.55000 03/26/2040 US 71,803.74 $71,170.15
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 238,827.42 $238,170.86
83405LAA8 SCLP 2017-5 A1 2.14000 09/25/2026 US 173,744.5 $172,557.59
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 160,252.3 $159,163.54
835495102 SONOCO PRODUCTS CO US SON 2,035.52 $104,544.36
844741108 SOUTHWEST AIRLS CO US LUV 909.59 $48,053.79
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 26,550.28 $26,019.27
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 10,816.78 $11,121.01
85254J102 STAG INDUSTRIAL INC US STAG 2,473.11 $60,764.29
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.11688 11/15/2027 US 258,968.59 $259,213.21
862121100 STORE CAPITAL CORP US STOR 688.34 $17,366.83
866674104 SUN COMMUNITIES US SUI 432.67 $40,606.19
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 1,833.94 $28,609.40
867914103 SUNTRUST BANKS INC US STI 531.01 $35,471.17
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 19,666.87 $20,297.19
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,093.72 $195,853.52
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 48,183.83 $48,906.59
87612E106 TARGET CORP US TGT 901.73 $65,465.31
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 34,417.02 $30,373.02
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 727,674.22 $691,507.15
88146M101 TERRENO REALTY CORP US TRNO 319.59 $11,872.64
88161DAA9 TESLA 2018-A A 2.32000 12/20/2019 US 198,697.43 $197,872.66
882508104 TEXAS INSTRUMENTS INC US TXN 4,391.61 $445,441.23
88579Y101 3M CO US MMM 912.54 $177,389.20
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 256,128.71 $250,922.02
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 217,144.5 $210,426.96
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 196,668.71 $189,740.36
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 35,400.37 $33,940.10
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 35,400.37 $36,274.76
902653104 UDR INC US UDR 1,440.6 $52,077.63
902973304 U.S. BANCORP US USB 2,057.15 $103,783.45
903002103 UMH PROPERTIES INC US UMH 1,160.35 $15,699.47
904767704 UNILEVER PLC - ADR GB UL 9,805.9 $548,836.32
907818108 UNION PAC CORP US UNP 915.49 $122,337.31
911312106 UNITED PARCEL SERVICE US UPS 1,056.11 $119,868.59
912796PY9 TREASURY BILL 0.00000 09/06/2018 US 4,695,465.4 $4,663,945.02
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 893,859.28 $1,191,276.99
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 1,380,614.33 $1,731,160.94
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 574,723.36 $558,792.89
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,004,977.1 $896,549.50
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 6,933,555.29 $6,888,053.83
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,138,896.03 $1,129,340.40
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 3,512,503.12 $3,435,667.11
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 2,492,775.87 $2,356,939.05
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 1,204,595.83 $1,092,606.06
912828S76 US TREASURY N/B 1.12500 07/31/2021 US 6,404,516.47 $6,096,799.43
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 563,996.79 $550,894.72
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,130,845.07 $1,080,840.52
913017109 UNITED TECHNOLOGIES CORP US UTX 956.79 $114,958.71
91704F104 URBAN EDGE PROPERTIES US UE 1,873.27 $38,533.15
91913Y100 VALERO ENERGY US VLO 649.01 $71,994.32
92276F100 VENTAS INC US VTR 383.5 $19,719.77
92339V100 VEREIT INC US VER 2,507.53 $17,051.18
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 983,343.54 $1,048,283.44
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,012.84 $155,127.16
92826C839 VISA INC - CLASS A SHARES US V 3,422.04 $434,187.87
929042109 VORNADO REALTY TRUST US VNO 604.76 $41,141.57
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 346,196.47 $359,760.51
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 44,250.46 $45,246.09
931142103 WAL MART STORES US WMT 2,553.74 $225,904.12
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 1,061.03 $70,505.29
94106L109 WASTE MANAGEMENT INC US WM 1,170.18 $95,123.84
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 23,600.24 $23,305.24
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 34,417.02 $33,384.51
949746101 WELLS FARGO COMPANY US WFC 6,413.37 $333,238.53
95040Q104 WELLTOWER INC. US WELL 452.34 $24,172.94
962166104 WEYERHAEUSER CO US WY 10,202.19 $375,236.52
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 24,583.59 $24,614.32
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 20,650.21 $20,934.15
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 117,048.62 $117,201.17
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 131,860.37 $129,759.37
98161FAD7 WOLS 2016-A A3 1.45000 08/15/2019 US 98,334.35 $97,755.97
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 26,550.28 $27,678.66
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 8,682.92 $315,190.12
B15C557 TOTAL SA FR FP FP 850.59 $53,461.13
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 132.75 $31,869.55
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 2,945.11 $31,057.94
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 26,550.28 $21,004.69
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 270,419.47 $14,108.42
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,450.34 $25,932.47
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 495,605.14 $25,669.80
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 59,000.61 $44,910.73
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 720,790.81 $39,067.97
B68XHC3 NORTHLAND POWER INC CA NPI CN 1,730.68 $31,204.76
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,467.61 $4,904.36
BBG00HRBPKX0 REGN US 05/18/18 C360 US -2.95 -$144.55
BBG00JH41PQ6 QRVO US 05/18/18 P62.5 US -20.65 -$2,581.28
BBG00K3YL815 BKNG US 05/18/18 P1990 US -.98 -$1,588.10
BBG00K996BS5 AMZN US 04/27/18 P1350 US -.98 $0.00
BBG00KC00T34 EA US 05/18/18 P110 US -10.82 -$1,709.05
BBG00KCT50R3 SGEN US 05/18/18 C55 US -22.62 -$2,623.56
BBG00KD5VQ43 ZAYO 05/18/18 C40 US -31.47 -$314.67
BBG00KHC9JX3 SWKS US 05/11/18 P85 US -14.75 -$3,097.53
BBG00KJ2JW81 BABA US 05/25/18 P160 CN -7.87 -$849.61
BBG00KQTTLF9 TXN US 05/18/18 P92 US -13.77 -$481.84
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 196,668.71 $187,818.62
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 11,760.79 $21,076.23
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 4,395.55 $216,097.89
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 501.51 $10,631.47
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 8,904.18 $276,013.02
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 5,703.39 $566,537.97
G3157S106 ENSCO INTERNATIONAL INC US ESV 15,074.66 $85,171.81
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 34,417.02 $36,482.05
G5960L103 MEDTRONIC INC IE MDT 7,796.93 $624,768.07
G96629103 WILLIS TOWERS WATSON PLC GB WLTW 221.25 $32,858.18
G97822103 PERRIGO CO PLC IE PRGO 535.92 $41,876.96
H1467J104 CHUBB LTD CH CB 344.17 $46,693.58
H8817H100 TRANSOCEAN LTD US RIG 21,181.22 $262,011.69
N47279109 INTERXION HOLDING NX NL INXN 904.68 $58,822.04
N53745100 LYONDELLBASELL INDU-CL A US LYB 624.42 $66,020.26
USD US DOLLAR US 2,516,845.45 $2,516,845.45

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 2018 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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