QQ Below Average Below Average Rated against 166 Target-Date 2025 funds.

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1 ML_34 Page 1 of Benchmark Overall Morningstar Rating Morningstar Return Morningstar Risk Blended Index QQ Below Average Below Average Rated against 166 Target-Date 2025 funds. Investment Strategy The Target Date Fund invests in a number of underlying investment portfolios created specifically for use by the Target Date Fund. Each of these portfolios may be further sub-divided to allow several different managers to oversee a portfolio. Quarterly rebalancing is used to move the Target Date Fund down the Glide Path toward a slightly more conservative asset mix. This is done to avoid making significant asset mix changes at one time. The Target Date Fund also may generate some income by loaning securities to creditworthy financial institutions. There is no guarantee that the Fund's investment objective will be met. Category Description: Target-Date 2025 Target-date portfolios provide diversified exposure to stocks, bonds, and cash for those investors who have a specific date in mind (in this case, the years ) for retirement. These portfolios aim to provide investors with an optimal level of return and risk, based solely on the target date. Management adjusts the allocation among asset classes to more-conservative mixes as the target date approaches, following a preset glide path. A target-date portfolio is part of a series of funds offering multiple retirement dates to investors. Volatility Analysis Investment Low Moderate High Category In the past, this investment has shown a relatively small range of price fluctuations relative to other investments. Based on this measure, currently more than two-thirds of all investments in this category have shown higher levels of risk. Consequently, this investment may appeal to investors looking for a conservative investment strategy. Best 3 Month Return Worst 3 Month Return 26.84% % (Mar '09 - May '09) (Sep '08 - Nov '08) Operations Sales Charge None Investment Management % of fund assets ¹ Expense Ratio Administrative Expense. ¹ Ratio Fund... Inception Date Management Company Multiple Managers² Telephone Notes This profile reflects past performance and should not be considered indicative of future performance. Annualized total returns measure net investment and capital gain or loss from portfolio investments as an annualized average, assuming the reinvestment of dividends. The Morningstar Rating that is reflected on this page is hypothetical. The Rating is considered hypothetical because Morningstar does not independently analyze the "custom fund" universe. Rather the Rating is assigned to the "custom fund" as a means to compare the institutional funds with the universe of mutual funds that Morningstar rates. The Composition, Credit Analysis and Morningstar Sectors, where applicable, may not add up to exactly 100% due to rounding. 1 See summary plan description and any subsequent summary of material modifications/prospectus for explanation of investment management and administrative expenses. 2 Please see next page titled "Important Disclosures" for the list of Target Date Fund managers. Allocation of Stocks and Bonds ("Glide Path") 100% Years Until Retirement Performance Allocation Bonds U.S. Stocks Non-U.S. Stocks Cash Other Total Return% as of Investment Benchmark Average annual, if greater than 1 year 3 Month 1 Year 3 Year 5 Year 10 Year Since Inception Fund Return % Benchmark Return % Category Average %.. QQ QQ.. Morningstar Rating # of Funds in Category Calendar Year Returns Total Return % Benchmark Growth of $10,000 as of Investment Benchmark Portfolio Analysis Composition as of % Assets U.S. Stocks 28.6 Non-U.S. Stocks 19.3 Bonds 37.2 Cash 7.6 Other 7.3 Top 10 Holdings as of % Assets Invesco Stable Value Portfolio Fund ABC 3.92 Gstif Erisa 2bps Gstif Erisa 2bps Gstif Erisa 2bps Gstif Erisa 2bps S+p500 Emini Fut Dec17 Xcme Us 2yr Note (Cbt) Mar18 Xcbt Invesco Short Term Inv Fd 0.80 Us Ultra Bond Cbt Dec17 Xcbt Apple Inc 0.67 Gstif Erisa 2bps Gstif Erisa 2bps Total Number of Stock Holdings 4999 Total Number of Bond Holdings Annual Turnover Ratio %. Lockheed Martin Fund Assets ($mil) Morningstar Style Box as of (EQ) ; (F-I) Value Blend Growth Large Mid Small Ltd Mod Ext Morningstar Sectors as of % Fund h Cyclical r Basic Materials 5.03 t Consumer Cyclical y Financial Services u Real Estate j Sensitive i Communication Services 3.72 o Energy 5.89 p Industrials a Technology k Defensive s Consumer Defensive 7.44 d Healthcare f Utilities 2.11 High Med Low

2 Important Disclosures Expanded Manager Information AllianceBernstein L.P. Axiom International Investors, LLC BlackRock Institutional Trust Company, N.A. CBRE Clarion Securities, LLC. Cohen & Steers Capital Management, Inc. Columbia Threadneedle Investments Hexavest, Inc. Invesco Institutional (N.A.), Inc. JP Morgan Investment Management, Inc. KBI Global Investors Ltd. Lockheed Martin Investment Management Company ("LMIMCo") Mar Vista Investment Partners, LLC Morgan Stanley Investment Management Limited Neuberger Berman Investment Advisers LLC Northern Trust Investments, Inc. Oaktree Capital Management, L.P. State Street Global Advisors T. Rowe Price Associates, Inc. TCW Investment Management, Co. Van Berkom and Associates, Inc. WCM Investment Management William Blair & Company, LLC. The Glide Path provider and manager is AllianceBernstein Morningstar, Inc., Morningstar Investment Profiles All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of.

3 Page 2 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Apple Inc ,051, ,206 Giant United States a Technology Microsoft Corp ,676,730 1,544,348 Giant United States a Technology Alphabet Inc C ,396, ,459 United States a Technology Pfizer Inc ,306,207 3,825,831 Giant United States d Healthcare Chubb Ltd ,230,674 1,181,660 Giant Switzerland y Financial Services UnitedHealth Group Inc ,009, ,295 Giant United States d Healthcare Citigroup Inc ,916,866 1,617,243 Giant United States y Financial Services Nestle SA ,864,087 1,381,314 Giant Switzerland s Consumer Defensive Bank of America Corporation ,839,686 5,170,867 Giant United States y Financial Services Facebook Inc A ,806, ,075 Giant United States a Technology EOG Resources Inc ,747,271 1,371,633 Large United States o Energy DowDuPont Inc ,736,868 1,964,313 Giant United States r Basic Materials Occidental Petroleum Corp ,708,412 1,774,703 Large United States o Energy Accenture PLC A ,555,127 1,197,249 Large United States a Technology Broadcom Ltd ,546, ,659 Giant China a Technology Amazon.com Inc ,317, ,823 Giant United States t Consumer Cyclical Honeywell International Inc ,260, ,044 Giant United States p Industrials Walt Disney Co ,210,700 1,534,435 Giant United States t Consumer Cyclical Morgan Stanley ,204,544 2,774,187 Giant United States y Financial Services Philip Morris International Inc ,035,548 1,067,740 Giant United States s Consumer Defensive Tencent Holdings Ltd ,025,844 1,565,273 Giant China a Technology Wells Fargo & Co ,899,363 2,415,928 Giant United States y Financial Services Alphabet Inc A ,864, ,437 Giant United States a Technology Simon Property Group Inc ,857, ,090 Large United States u Real Estate Taiwan Semiconductor Manufacturing Co Ltd ADR ,823,709 1,212,412 Giant Taiwan a Technology Visa Inc Class A ,717,415 1,273,642 Giant United States y Financial Services AIA Group Ltd ,703,668 15,588,612 Giant Hong Kong y Financial Services Boston Scientific Corp ,701,240 4,199,583 Large United States d Healthcare Northrop Grumman Corp ,698, ,326 Large United States p Industrials Allergan PLC ,686, ,576 Large United States d Healthcare PepsiCo Inc ,686,570 1,205,333 Giant United States s Consumer Defensive CSL Ltd ,678, ,828 Giant Australia d Healthcare Reckitt Benckiser Group PLC ,637,870 1,267,940 Giant United Kingdom s Consumer Defensive Keyence Corp ,595, ,919 Giant Japan a Technology Pioneer Natural Resources Co ,573, ,496 Large United States o Energy Mondelez International Inc Class A ,567,522 3,313,023 Large United States s Consumer Defensive Stanley Black & Decker Inc ,540, ,693 Large United States p Industrials Canadian Pacific Railway Ltd ,491, ,363 Large Canada p Industrials Texas Instruments Inc ,490,008 1,279,271 Giant United States a Technology Charter Communications Inc A ,454, ,657 Large United States i Communication Services LVMH Moet Hennessy Louis Vuitton SE ,440, ,188 Giant France t Consumer Cyclical Lowe's Companies Inc ,399,657 1,640,042 Large United States t Consumer Cyclical Oracle Corp ,346,758 1,330,220 Giant United States a Technology Adobe Systems Inc ,341, ,425 Large United States a Technology HDFC Bank Ltd ADR ,332, ,832 Giant India y Financial Services General Electric Co ,331,364 6,328,296 Giant United States p Industrials Comcast Corp Class A ,314,996 3,046,533 Giant United States i Communication Services TJX Companies Inc ,307,680 1,839,830 Large United States t Consumer Cyclical Berkshire Hathaway Inc B ,306, ,179 Giant United States y Financial Services Dollar Tree Inc ,303,830 1,486,326 Large United States s Consumer Defensive Compass Group PLC ,293,686 4,075,485 Large United Kingdom t Consumer Cyclical O'Reilly Automotive Inc ,267, ,737 Medium United States t Consumer Cyclical Novartis AG ,265, ,732 Giant Switzerland d Healthcare Experian PLC ,252,181 4,182,732 Large Ireland p Industrials Bristol-Myers Squibb Company ,238,580 2,180,113 Giant United States d Healthcare

4 Page 3 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Eli Lilly and Co ,232,294 1,384,993 Large United States d Healthcare Vornado Realty Trust ,219,945 1,934,447 Medium United States u Real Estate The Home Depot Inc ,217, ,816 Giant United States t Consumer Cyclical International Business Machines Corp ,190, ,395 Giant United States a Technology Johnson & Johnson ,187, ,134 Giant United States d Healthcare Core Laboratories NV ,182, ,435 Medium United States o Energy American International Group Inc ,150,575 1,936,876 Large United States y Financial Services JPMorgan Chase & Co ,141, ,047 Giant United States y Financial Services Atlas Copco AB A ,127,834 2,044,844 Giant Sweden p Industrials Ingersoll-Rand PLC ,124,905 1,325,023 Large United States p Industrials MetLife Inc ,115,572 2,287,465 Large United States y Financial Services NextEra Energy Inc ,097, ,881 Large United States f Utilities AT&T Inc ,094,640 3,511,211 Giant United States i Communication Services HSBC Holdings PLC ,078,887 8,330,674 Giant United Kingdom y Financial Services Eaton Corp PLC ,058,303 1,529,719 Large United States p Industrials Agilent Technologies Inc ,053,049 1,824,626 Medium United States d Healthcare Chr. Hansen Holding A/S ,033, ,622 Large Denmark r Basic Materials Exxon Mobil Corp , ,719 Giant United States o Energy Samsung Electronics Co Ltd ,739 7,273 Giant South Korea a Technology Union Pacific Corp , ,448 Giant United States p Industrials Novozymes A/S B ,752 1,631,686 Large Denmark d Healthcare Markel Corp ,879 38,486 Medium United States y Financial Services Yandex NV ,009 1,244,079 Large Russia a Technology Merck & Co Inc ,258 1,887,456 Giant United States d Healthcare Schlumberger Ltd , ,266 Large United States o Energy Royal Dutch Shell PLC Class A ,783 2,676,838 Giant United Kingdom o Energy American Tower Corp , ,297 Large United States i Communication Services adidas AG , ,707 Giant Germany t Consumer Cyclical Verizon Communications Inc ,918 2,355,224 Giant United States i Communication Services First Republic Bank ,663 1,401,795 Medium United States y Financial Services Capital One Financial Corp ,433 1,352,164 Large United States y Financial Services Concho Resources Inc , ,052 Large United States o Energy CK Asset Holdings Ltd ,955 10,149,113 Giant Hong Kong u Real Estate WEX Inc ,738 1,007,913 Medium United States p Industrials Intercontinental Exchange Inc ,451 1,710,478 Large United States y Financial Services GGP Inc ,376 2,470,946 Large United States u Real Estate Essilor International SA , ,147 Large France d Healthcare Celgene Corp , ,282 Large United States d Healthcare Microchip Technology Inc ,275 1,322,004 Medium United States a Technology Prologis Inc , ,247 Large United States u Real Estate Public Storage , ,260 Large United States u Real Estate Goldman Sachs Group Inc , ,008 Giant United States y Financial Services Fidelity National Information Services Inc ,512 1,263,251 Large United States p Industrials Charles Schwab Corp ,563 2,617,882 Large United States y Financial Services Mitsui Fudosan Co Ltd ,944 3,889,214 Giant Japan u Real Estate Hermes International SA , ,969 Giant France t Consumer Cyclical Wal - Mart de Mexico SAB de CV Class V ,984 14,737,349 Giant Mexico s Consumer Defensive NXP Semiconductors NV , ,560 Giant China a Technology KeyCorp ,057 6,190,879 Medium United States y Financial Services Icon PLC , ,550 Medium United States d Healthcare Delta Air Lines Inc ,540 2,379,557 Large United States p Industrials Raia Drogasil SA ,519 1,319,718 Large Brazil s Consumer Defensive AvalonBay Communities Inc , ,151 Large United States u Real Estate Starbucks Corp ,927 2,505,572 Large United States t Consumer Cyclical PNC Financial Services Group Inc , ,732 Large United States y Financial Services

5 Page 4 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Sika AG Bearer Shs ,655 11,427 Large Switzerland r Basic Materials Walgreens Boots Alliance Inc ,049 1,550,314 Large United States s Consumer Defensive Norfolk Southern Corp , ,267 Large United States p Industrials Sysmex Corp ,775 1,266,841 Large Japan d Healthcare Sun Hung Kai Properties Ltd ,691 5,195,983 Giant Hong Kong u Real Estate Marsh & McLennan Companies Inc ,543 1,418,552 Large United States y Financial Services Vodafone Group PLC ,719 28,632,015 Giant United Kingdom i Communication Services The Hartford Financial Services Group Inc ,308 2,446,340 Medium United States y Financial Services Total SA ,579 1,543,806 Giant France o Energy Sanofi SA , ,693 Giant France d Healthcare Vonovia SE ,591 2,548,395 Large Germany u Real Estate Anadarko Petroleum Corp ,588 2,729,006 Large United States o Energy NVIDIA Corp , ,480 Giant United States a Technology Unibail-Rodamco SE , ,253 Large France u Real Estate Industria De Diseno Textil SA ,191 3,250,994 Giant Spain t Consumer Cyclical China Construction Bank Corp H ,219 28,901,854 Giant China y Financial Services Delphi Automotive PLC ,362 1,240,760 Large United States t Consumer Cyclical Intuit Inc , ,868 Large United States a Technology Eastman Chemical Co ,098 1,293,596 Medium United States r Basic Materials Grand Canyon Education Inc , ,724 Small United States s Consumer Defensive Biogen Inc , ,814 Large United States d Healthcare Toyota Motor Corp ,077 1,370,765 Giant Japan t Consumer Cyclical Link Real Estate Investment Trust ,043 10,225,811 Giant Hong Kong u Real Estate Alibaba Group Holding Ltd ADR , ,879 Giant China t Consumer Cyclical Luxottica Group SpA ,648 1,505,553 Large Italy t Consumer Cyclical British American Tobacco PLC ,060 1,299,945 Giant United Kingdom s Consumer Defensive Boston Properties Inc ,953 1,193,049 Medium United States u Real Estate XPO Logistics Inc , ,678 Medium United States p Industrials Procter & Gamble Co , ,930 Giant United States s Consumer Defensive General Dynamics Corp , ,644 Large United States p Industrials Cigna Corp , ,604 Large United States d Healthcare DISH Network Corp Class A ,815 2,240,352 Medium United States i Communication Services Coloplast A/S B ,921 1,461,757 Large Denmark d Healthcare Ryanair Holdings PLC ADR , ,798 Large Ireland p Industrials AstraZeneca PLC ,614 1,242,164 Giant United Kingdom d Healthcare Time Warner Inc , ,059 Large United States t Consumer Cyclical NiSource Inc ,354 4,614,350 Medium United States f Utilities EQT Corp ,931 1,866,212 Medium United States o Energy BP PLC ,615 12,640,615 Giant United Kingdom o Energy Royal Dutch Shell PLC B ,263 2,630,995 Giant United Kingdom o Energy Daimler AG ,772 1,027,167 Giant Germany t Consumer Cyclical Molson Coors Brewing Co B ,276 1,445,727 Medium United States s Consumer Defensive Unilever NV ADR , ,907 Giant Netherlands s Consumer Defensive Mitsubishi UFJ Financial Group Inc ,560 12,373,182 Giant Japan y Financial Services TransDigm Group Inc , ,645 Medium United States p Industrials Zimmer Biomet Holdings Inc ,890 1,001,238 Large United States d Healthcare Allianz SE , ,005 Giant Germany y Financial Services Vertex Pharmaceuticals Inc , ,502 Large United States d Healthcare Masco Corp ,269 2,958,201 Medium United States r Basic Materials US Bancorp , ,254 Large United States y Financial Services GlaxoSmithKline PLC ,401 4,371,898 Giant United Kingdom d Healthcare Regency Centers Corp , ,928 Medium United States u Real Estate Ecolab Inc , ,741 Large United States r Basic Materials Sensata Technologies Holding N.V , ,798 Medium United States a Technology Analog Devices Inc ,128 1,362,053 Large United States a Technology

6 Page 5 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Roper Technologies Inc , ,274 Large United States p Industrials Deutsche Telekom AG ,777 4,572,011 Giant Germany i Communication Services SVB Financial Group , ,314 Medium United States y Financial Services Cisco Systems Inc ,465 1,139,336 Giant United States a Technology Chemed Corp , ,104 Small United States d Healthcare Land Securities Group PLC ,487 6,453,165 Large United Kingdom u Real Estate Mastercard Inc A , ,289 Giant United States y Financial Services Wal-Mart Stores Inc , ,889 Giant United States s Consumer Defensive Cboe Global Markets Inc , ,796 Medium United States y Financial Services Ventas Inc , ,540 Medium United States u Real Estate Hewlett Packard Enterprise Co ,389 8,064,634 Large United States a Technology Diageo PLC ,263 2,447,790 Giant United Kingdom s Consumer Defensive AmerisourceBergen Corp ,897 1,398,541 Medium United States d Healthcare Gilead Sciences Inc ,454 1,498,112 Large United States d Healthcare Alcoa Corp ,862 2,463,513 Medium United States r Basic Materials Bank of New York Mellon Corp ,180 2,221,321 Large United States y Financial Services MarketAxess Holdings Inc , ,488 Medium United States y Financial Services Novo Nordisk A/S B ,945 1,680,646 Giant Denmark d Healthcare Equity Residential , ,197 Large United States u Real Estate Maximus Inc , ,628 Small United States p Industrials Diamondback Energy Inc ,882 1,149,947 Medium United States o Energy BlackRock Inc , ,236 Large United States y Financial Services Macerich Co , ,372 Medium United States u Real Estate Nike Inc B ,299 2,193,205 Giant United States t Consumer Cyclical Moody's Corporation , ,013 Large United States y Financial Services Randgold Resources Ltd , ,393 Large United Kingdom r Basic Materials Commonwealth Bank of Australia ,384 1,388,320 Giant Australia y Financial Services Alexandria Real Estate Equities Inc , ,150 Medium United States u Real Estate National Grid PLC ,221 6,871,733 Large United Kingdom f Utilities FedEx Corp , ,783 Large United States p Industrials Unilever NV DR ,201 1,441,621 Giant Netherlands s Consumer Defensive Shire PLC ,614 1,627,027 Large United States d Healthcare Sumitomo Mitsui Financial Group Inc ,151 2,095,389 Giant Japan y Financial Services Allegion PLC ,378 1,391,155 Medium United States p Industrials Halliburton Co , ,912 Large United States o Energy Scentre Group ,930 36,427,305 Large Australia u Real Estate Twenty-First Century Fox Inc Class A ,757 4,234,379 Large United States t Consumer Cyclical Itau Unibanco Holding SA ADR ,439 1,113,662 Giant Brazil y Financial Services Mitsubishi Estate Co Ltd ,575 4,878,846 Giant Japan u Real Estate Royal Caribbean Cruises Ltd , ,830 Large United States t Consumer Cyclical Aetna Inc , ,901 Large United States d Healthcare Vulcan Materials Co , ,897 Medium United States r Basic Materials The Kraft Heinz Co ,050 1,522,778 Giant United States s Consumer Defensive Twenty-First Century Fox Inc Class B ,955 4,323,357 Large United States t Consumer Cyclical Intesa Sanpaolo ,945 24,231,949 Giant Italy y Financial Services United Continental Holdings Inc ,484 1,901,767 Medium United States p Industrials Fortive Corp , ,972 Large United States a Technology Virtu Financial Inc A ,449 1,422,323 Small United States y Financial Services TransCanada Corp ,205 1,873,964 Giant Canada o Energy BNP Paribas ,677 1,068,286 Giant France y Financial Services Klépierre ,851 2,117,720 Large France u Real Estate Huron Consulting Group Inc , ,616 Micro United States p Industrials Essex Property Trust Inc , ,002 Medium United States u Real Estate Naspers Ltd Class N ,747 63,692 Giant South Africa a Technology Bayer AG , ,166 Giant Germany d Healthcare

7 Page 6 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Hilton Worldwide Holdings Inc ,035 2,075,707 Large United States t Consumer Cyclical Banco Santander SA ,098 7,674,297 Giant Spain y Financial Services Danaher Corp ,677 1,353,930 Large United States d Healthcare Mizuho Financial Group Inc ,861 47,236,869 Giant Japan y Financial Services ING Groep NV ,230 4,547,270 Giant Netherlands y Financial Services Abbott Laboratories ,064 2,518,214 Giant United States d Healthcare Ameriprise Financial Inc , ,562 Large United States y Financial Services Taiwan Semiconductor Manufacturing Co Ltd ,741 1,532,371 Giant Taiwan a Technology WestRock Co A ,246 2,038,383 Medium United States t Consumer Cyclical BHP Billiton Ltd ,199 3,955,317 Giant Australia r Basic Materials Siemens AG , ,303 Giant Germany p Industrials SAP SE , ,072 Giant Germany a Technology Everest Re Group Ltd , ,923 Medium United States y Financial Services ILG Inc , ,923 Small United States t Consumer Cyclical Industrial And Commercial Bank Of China Ltd H ,890 23,863,103 Giant China y Financial Services HMS Holdings Corp ,902 1,535,606 Micro United States p Industrials Bayerische Motoren Werke AG , ,853 Giant Germany t Consumer Cyclical Hon Hai Precision Industry Co Ltd ,292 7,705,792 Giant Taiwan a Technology Acushnet Holdings Corp , ,487 Small United States t Consumer Cyclical Mettler-Toledo International Inc ,467 70,768 Medium United States d Healthcare Sothebys Class A Limited Voting , ,429 Small United States t Consumer Cyclical Iberdrola SA ,620 10,791,562 Giant Spain f Utilities Newcrest Mining Ltd ,230 4,961,798 Large Australia r Basic Materials Envestnet Inc , ,137 Small United States y Financial Services Financial Engines Inc , ,027 Small United States y Financial Services Extra Space Storage Inc ,923 1,629,587 Medium United States u Real Estate Gecina , ,259 Large France u Real Estate Host Hotels & Resorts Inc ,481 2,870,022 Medium United States u Real Estate Ford Motor Co ,830 9,785,656 Large United States t Consumer Cyclical Tempur Sealy International Inc , ,567 Small United States t Consumer Cyclical Praxair Inc , ,437 Large United States r Basic Materials Basf SE , ,466 Giant Germany r Basic Materials Westpac Banking Corp ,794 3,371,552 Giant Australia y Financial Services Swisscom AG , ,274 Large Switzerland i Communication Services Globus Medical Inc Class A , ,297 Small United States d Healthcare Silicon Laboratories Inc , ,774 Small United States a Technology AZZ Inc , ,365 Micro United States p Industrials Mohawk Industries Inc , ,164 Medium United States t Consumer Cyclical Euronet Worldwide Inc , ,812 Small United States p Industrials Ellie Mae Inc , ,147 Small United States a Technology Lloyds Banking Group PLC ,823 91,783,208 Giant United Kingdom y Financial Services Charles River Laboratories International Inc , ,032 Medium United States d Healthcare Gentherm Inc , ,796 Micro United States t Consumer Cyclical CarMax Inc , ,642 Medium United States t Consumer Cyclical Telefonica SA ,913 8,027,559 Giant Spain i Communication Services Coca-Cola Co ,666 2,601,418 Giant United States s Consumer Defensive US Silica Holdings Inc , ,402 Small United States r Basic Materials Shutterstock Inc , ,893 Micro United States a Technology Cardtronics PLC ,234 1,405,428 Micro United States p Industrials Eni SpA ,836 5,060,755 Giant Italy o Energy Anheuser-Busch InBev SA/NV , ,503 Giant Belgium s Consumer Defensive Haemonetics Corp , ,150 Small United States d Healthcare Ambarella Inc , ,038 Small United States a Technology Altria Group Inc , ,071 Giant United States s Consumer Defensive Ross Stores Inc , ,758 Large United States t Consumer Cyclical

8 Page 7 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Iridium Communications Inc ,651 1,637,250 Micro United States i Communication Services KDDI Corp ,326 3,246,467 Giant Japan i Communication Services ICICI Bank Ltd ADR ,337 1,487,935 Giant India y Financial Services Welltower Inc , ,461 Large United States u Real Estate Swire Properties Ltd ,470 25,241,257 Giant Hong Kong u Real Estate RE/MAX Holdings Inc Class A , ,341 Micro United States u Real Estate TCF Financial Corp ,803 1,943,584 Small United States y Financial Services HD Supply Holdings Inc ,603 3,208,365 Medium United States p Industrials Martin Marietta Materials Inc , ,976 Medium United States r Basic Materials Arthur J. Gallagher & Co ,348 1,908,787 Medium United States y Financial Services Equinix Inc ,154 88,519 Large United States u Real Estate Thermon Group Holdings Inc , ,204 Micro United States p Industrials Primoris Services Corp , ,283 Micro United States p Industrials The Kroger Co ,208 6,254,285 Large United States s Consumer Defensive Brixmor Property Group Inc ,764 7,962,157 Medium United States u Real Estate Fox Factory Holding Corp , ,975 Micro United States t Consumer Cyclical Imperial Brands PLC ,809 1,959,798 Giant United Kingdom s Consumer Defensive RLI Corp , ,089 Small United States y Financial Services Kilroy Realty Corp , ,129 Medium United States u Real Estate Workday Inc Class A ,463 1,129,520 Medium United States a Technology Thor Industries Inc , ,354 Medium United States t Consumer Cyclical Zions Bancorp , ,481 Medium United States y Financial Services SeaWorld Entertainment Inc ,579 1,918,093 Micro United States t Consumer Cyclical AutoZone Inc , ,797 Medium United States t Consumer Cyclical Deutsche Post AG ,195 1,836,364 Giant Germany p Industrials Mirvac Group ,247 63,447,562 Large Australia u Real Estate Engie SA ,851 4,909,356 Giant France f Utilities Hongkong Land Holdings Ltd ,843 9,623,347 Large Singapore u Real Estate GPT Group ,620 29,248,271 Large Australia u Real Estate Sberbank of Russia PJSC ADR ,496 1,462,522 Giant Russia y Financial Services Waddell & Reed Financial Inc A , ,796 Small United States y Financial Services Segro PLC ,888 11,593,902 Medium United Kingdom u Real Estate Vantiv Inc Class A ,352 1,662,102 Medium United States p Industrials National Australia Bank Ltd ,134 3,474,233 Giant Australia y Financial Services Sony Corp ,856 2,110,526 Giant Japan a Technology Healthcare Trust of America Inc ,082 1,862,244 Medium United States u Real Estate Enel SpA ,864 13,800,670 Giant Italy f Utilities Banco Bilbao Vizcaya Argentaria SA ,572 9,532,345 Giant Spain y Financial Services Continental AG , ,863 Giant Germany t Consumer Cyclical Paramount Group Inc ,958 3,512,191 Small United States u Real Estate LaSalle Hotel Properties , ,591 Small United States u Real Estate CMS Energy Corp ,604 2,539,907 Medium United States f Utilities BT Group PLC ,131 22,288,007 Large United Kingdom i Communication Services Unilever PLC , ,856 Giant United Kingdom s Consumer Defensive Herman Miller Inc , ,900 Small United States p Industrials Swiss Re AG , ,851 Large Switzerland y Financial Services PJSC Lukoil ADR , ,773 Giant Russia o Energy Resona Holdings Inc ,840 15,492,003 Large Japan y Financial Services SoftBank Group Corp ,825 1,045,540 Giant Japan i Communication Services Sampo Oyj A ,358 1,562,900 Large Finland y Financial Services Huntington Bancshares Inc ,318 9,660,880 Medium United States y Financial Services Micron Technology Inc ,955 2,977,057 Large United States a Technology Becton, Dickinson and Co , ,385 Large United States d Healthcare Zurich Insurance Group AG , ,783 Giant Switzerland y Financial Services Snap-on Inc , ,313 Medium United States p Industrials

9 Page 8 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Honda Motor Co Ltd ,834 2,691,526 Giant Japan t Consumer Cyclical Australia and New Zealand Banking Group Ltd ,404 3,651,135 Giant Australia y Financial Services Universal Health Services Inc Class B , ,508 Medium United States d Healthcare SSE PLC ,720 4,550,862 Large United Kingdom f Utilities T-Mobile US Inc ,102 1,904,667 Large United States i Communication Services Mitsui Fudosan Logistics Park Inc ,177 4,888 Small Japan u Real Estate DCT Industrial Trust Inc , ,528 Medium United States u Real Estate Taubman Centers Inc , ,980 Small United States u Real Estate Proximus SA ,109 2,474,570 Large Belgium i Communication Services Ping An Insurance (Group) Co. of China Ltd H ,064 3,912,155 Giant China y Financial Services SL Green Realty Corp , ,414 Medium United States u Real Estate Derwent London PLC , ,517 Medium United Kingdom u Real Estate Merck KGaA , ,908 Giant Germany d Healthcare NetEase Inc ADR ,339 62,060 Giant China a Technology Vale SA ADR , ,229 Giant Brazil r Basic Materials Centrica PLC ,100 37,623,275 Large United Kingdom f Utilities American Renal Associates Holdings Inc ,984 1,495,891 Micro United States d Healthcare Kansas City Southern , ,670 Medium United States p Industrials Federal Realty Investment Trust ,766 1,058,812 Medium United States u Real Estate Bank Rakyat Indonesia (Persero) Tbk Class B ,738 56,964,780 Giant Indonesia y Financial Services Nippon Telegraph & Telephone Corp ,795 1,811,651 Giant Japan i Communication Services Deere & Co , ,503 Large United States p Industrials ASML Holding NV , ,697 Giant Netherlands a Technology Prudential Financial Inc , ,514 Large United States y Financial Services Phillips ,117 1,264,480 Large United States o Energy UBS Group AG ,128 3,133,245 Giant Switzerland y Financial Services Wesfarmers Ltd ,501 2,521,930 Giant Australia s Consumer Defensive Prudential PLC ,184 2,235,910 Giant United Kingdom y Financial Services Invitation Homes Inc ,269 2,395,117 Medium United States u Real Estate Chevron Corp , ,388 Giant United States o Energy NTT DOCOMO Inc ,019 3,625,518 Giant Japan i Communication Services Mitsubishi Corp ,167 3,399,478 Giant Japan p Industrials Crown Castle International Corp , ,087 Large United States u Real Estate Veolia Environnement SA ,462 3,501,101 Large France p Industrials CubeSmart ,296 1,991,878 Medium United States u Real Estate Mylan NV ,250 3,563,941 Large United States d Healthcare JBG SMITH Properties ,947 3,901,966 Small United States u Real Estate Xcel Energy Inc ,132 2,474,095 Large United States f Utilities Bank Of China Ltd H ,454 36,788,635 Giant China y Financial Services Deutsche Wohnen SE ,597 2,321,667 Large Germany u Real Estate Waste Connections Inc ,293 1,337,508 Medium United States p Industrials INTL FCStone Inc , ,257 Micro United States y Financial Services SBA Communications Corp , ,081 Medium United States i Communication Services AXA SA ,470 1,771,476 Giant France y Financial Services Aviva PLC ,013 12,172,149 Large United Kingdom y Financial Services Duke Energy Corp ,569 1,407,321 Large United States f Utilities Orix Jreit Inc ,821 22,146 Medium Japan u Real Estate Rio Tinto PLC ,432 1,150,145 Giant United Kingdom r Basic Materials Kimco Realty Corp ,726 3,260,035 Medium United States u Real Estate Adtran Inc , ,427 Micro United States a Technology Intel Corp , ,622 Giant United States a Technology Firstrand Ltd ,564 4,156,513 Large South Africa y Financial Services Japan Tobacco Inc ,002 2,572,811 Giant Japan s Consumer Defensive Glencore PLC ,324 11,679,686 Giant United Kingdom r Basic Materials HCL Technologies Ltd , ,330 Giant India a Technology

10 Page 9 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector Republic Services Inc Class A , ,415 Large United States p Industrials Japan Retail Fund Investment Corp ,125 63,566 Medium Japan u Real Estate China Overseas Land & Investment Ltd ,568 10,111,209 Giant China u Real Estate DBS Group Holdings Ltd ,389 5,119,800 Giant Singapore y Financial Services Camden Property Trust , ,702 Medium United States u Real Estate Wolters Kluwer NV ,382 1,738,055 Large Netherlands t Consumer Cyclical Airbus SE , ,762 Giant Netherlands p Industrials Singapore Telecommunications Ltd ,134 11,275,369 Singapore i Communication Services Westfield Corp ,114 15,333,449 Large Australia u Real Estate Hudson Pacific Properties Inc ,873 1,639,487 Medium United States u Real Estate Hammerson PLC ,549 4,280,539 Medium United Kingdom u Real Estate Symantec Corp ,810 1,555,117 Medium United States a Technology L'Oreal SA , ,985 Giant France s Consumer Defensive ABB Ltd ,649 3,292,947 Giant Switzerland p Industrials Cie Generale des Etablissements Michelin SA , ,467 Large France t Consumer Cyclical Healthcare Realty Trust Inc , ,818 Small United States u Real Estate Telenor ASA ,247 3,937,811 Large Norway i Communication Services Air Liquide SA , ,702 Giant France r Basic Materials Hana Financial Group Inc , ,493 Large South Korea y Financial Services Astellas Pharma Inc ,475 6,581,972 Giant Japan d Healthcare Assurant Inc , ,730 Medium United States y Financial Services Forest City Realty Trust Inc Class A ,533 1,664,685 Medium United States u Real Estate British Land Co PLC ,887 1,945,819 Large United Kingdom u Real Estate E.ON SE ,355 7,509,994 Large Germany f Utilities Alliant Energy Corp ,272 1,024,091 Medium United States f Utilities Infosys Ltd , ,933 Giant India a Technology Brown & Brown Inc , ,263 Medium United States y Financial Services United Overseas Bank Ltd ,817 4,622,913 Giant Singapore y Financial Services Seven & i Holdings Co Ltd ,028 2,114,967 Giant Japan s Consumer Defensive UCB SA ,420 1,132,734 Large Belgium d Healthcare Schneider Electric SE , ,685 Giant France p Industrials China Shenhua Energy Co Ltd H ,528 19,143,693 Giant China r Basic Materials Dexus ,775 15,293,540 Large Australia u Real Estate Smith & Nephew PLC ,384 4,696,824 Large United Kingdom d Healthcare Heineken NV , ,285 Giant Netherlands s Consumer Defensive Tata Consultancy Services Ltd , ,746 Giant India a Technology Guangzhou R&F Properties Co Ltd H ,016 14,696,195 Large China u Real Estate Cie Financiere Richemont SA , ,934 Giant Switzerland t Consumer Cyclical Vinci SA , ,832 Giant France p Industrials Murata Manufacturing Co Ltd , ,325 Giant Japan a Technology Dai-ichi Life Holdings Inc ,364 4,451,988 Giant Japan y Financial Services American Electric Power Co Inc ,234 1,666,359 Large United States f Utilities Sands China Ltd ,690 13,102,210 Giant Macao t Consumer Cyclical East Japan Railway Co , ,355 Giant Japan p Industrials John Wiley & Sons Inc Class A , ,986 Small United States t Consumer Cyclical Sonova Holding AG , ,008 Large Switzerland d Healthcare Danone SA , ,020 Giant France s Consumer Defensive China Mobile Ltd ,098 4,766,885 Giant China i Communication Services Oversea-Chinese Banking Corp Ltd ,828 9,778,962 Giant Singapore y Financial Services Sainsbury (J) PLC ,694 26,040,053 Medium United Kingdom s Consumer Defensive Hannover Rueck SE , ,440 Large Germany y Financial Services MGIC Investment Corp ,593 1,638,030 Medium United States y Financial Services Celanese Corp ,432 1,127,005 Medium United States r Basic Materials Telecom Italia SpA ,202 92,113,158 Large Italy i Communication Services Societe Generale SA , ,152 Giant France y Financial Services

11 Page 10 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector ITOCHU Corp ,677 4,891,180 Giant Japan p Industrials Goodman Group ,519 15,303,793 Large Australia u Real Estate Barclays PLC ,095 20,659,180 Giant United Kingdom y Financial Services General Motors Co ,920 2,917,088 Large United States t Consumer Cyclical Takeda Pharmaceutical Co Ltd ,357 1,502,370 Giant Japan d Healthcare Mitsui & Co Ltd ,219 5,484,808 Giant Japan o Energy Hulic Co Ltd ,166 8,452,669 Large Japan u Real Estate Thai Oil PCL Shs Foreign Registered ,056 3,045,376 Large Thailand o Energy Rosneft Oil Co GDR ,638 3,039,085 Giant Russia o Energy VEREIT Inc Class A ,286 7,043,478 Medium United States u Real Estate Telstra Corp Ltd ,167 30,208,703 Giant Australia i Communication Services International Paper Co , ,133 Large United States t Consumer Cyclical NCsoft Corp ,062 44,486 Large South Korea a Technology Boeing Co ,256 83,367 Giant United States p Industrials Shin-Etsu Chemical Co Ltd , ,823 Giant Japan r Basic Materials UniCredit SpA ,157 2,515,653 Giant Italy y Financial Services Brilliance China Automotive Holdings Ltd ,818 6,370,797 Large China t Consumer Cyclical TDC A/S ,774 14,056,389 Medium Denmark i Communication Services CK Hutchison Holdings Ltd ,267 6,599,106 Giant Hong Kong p Industrials QTS Realty Trust Inc Class A , ,651 Small United States u Real Estate United Urban Investment Corp ,032 68,313 Medium Japan u Real Estate Nintendo Co Ltd , ,152 Giant Japan a Technology The Wharf (Holdings) Ltd ,717 7,775,900 Large Hong Kong u Real Estate Bridgestone Corp ,414 1,831,054 Giant Japan t Consumer Cyclical Sun Communities Inc , ,406 Medium United States u Real Estate Rio Tinto Ltd ,342 1,536,006 Giant Australia r Basic Materials Bajaj Auto Ltd , ,723 Large India t Consumer Cyclical Nordea Bank AB ,850 3,962,257 Giant Sweden y Financial Services BankUnited Inc ,835 3,234,424 Small United States y Financial Services SunTrust Banks Inc ,844 1,946,180 Large United States y Financial Services Marriott International Inc Class A , ,579 Large United States t Consumer Cyclical Statoil ASA ,306 4,088,135 Giant Norway o Energy Iron Mountain Inc ,588 1,063,316 Medium United States p Industrials AbbVie Inc , ,222 Giant United States d Healthcare China Pacific Insurance (Group) Co Ltd H ,308 2,110,305 Giant China y Financial Services Hyundai Motor Co , ,668 Giant South Korea t Consumer Cyclical Digital Realty Trust Inc , ,504 Large United States u Real Estate Petroleo Brasileiro SA Petrobras ADR , ,532 Giant Brazil o Energy Maxim Integrated Products Inc ,451 2,431,539 Medium United States a Technology Fanuc Corp , ,701 Giant Japan p Industrials Sumitomo Realty & Development Co Ltd ,983 2,290,392 Large Japan u Real Estate Linde AG , ,912 Giant Germany r Basic Materials Dollar General Corp ,711 1,418,834 Large United States s Consumer Defensive Grupo Financiero Banorte SAB de CV Class O ,668 3,005,380 Giant Mexico y Financial Services Credit Suisse Group AG ,396 3,382,596 Giant Switzerland y Financial Services DXP Enterprises Inc , ,233 Micro United States p Industrials Central Japan Railway Co , ,366 Giant Japan p Industrials Royal Philips NV ,876 1,297,798 Large Netherlands p Industrials Exelon Corp ,602 3,107,842 Large United States f Utilities China Telecom Corp Ltd H Shares ,145 83,884,616 Giant China i Communication Services Reliance Industries Ltd ADR , ,697 Giant India o Energy United Microelectronics Corp ,340 20,479,418 Large Taiwan a Technology LEG Immobilien AG , ,917 Medium Germany u Real Estate Hysan Development Co Ltd ,672 14,726,605 Large Hong Kong u Real Estate BHP Billiton PLC ,277 3,038,762 Giant United Kingdom r Basic Materials

12 Page 11 of Stock Portfolio Analysis as of Security Name Net Assets % Market Value $ Shares Owned Market Cap Country Sector New World Development Co Ltd ,812 48,235,531 Large Hong Kong u Real Estate Sumitomo Corp ,932 5,504,045 Large Japan p Industrials Columbia Property Trust Inc ,248 2,469,117 Small United States u Real Estate STORE Capital Corp ,137 1,540,660 Medium United States u Real Estate Canon Inc ,509 1,568,930 Giant Japan p Industrials Panasonic Corp ,194 5,762,613 Giant Japan a Technology Hoya Corp ,713 1,597,591 Large Japan a Technology Renault SA , ,220 Large France t Consumer Cyclical City Developments Ltd ,476 8,085,183 Large Singapore t Consumer Cyclical McDonald's Corp , ,841 Giant United States t Consumer Cyclical Ctrip.com International Ltd ADR , ,554 Giant China t Consumer Cyclical Deutsche Bank AG ,632 3,098,569 Large Germany y Financial Services 3M Co , ,456 Giant United States p Industrials Westlake Chemical Corp ,772 1,356,942 Medium United States r Basic Materials Red Electrica Corporacion SA ,497 3,894,023 Large Spain f Utilities Denso Corp ,478 1,562,759 Giant Japan t Consumer Cyclical Fast Retailing Co Ltd , ,522 Giant Japan t Consumer Cyclical Ascendas Real Estate Investment Trust ,509 50,203,627 Large Singapore u Real Estate Yum Brands Inc ,259 1,572,447 Large United States t Consumer Cyclical Nippon Building Fund Inc ,217 13,902 Large Japan u Real Estate Nokia Oyj ,973 8,923,636 Large Finland a Technology Marathon Petroleum Corp , ,361 Large United States o Energy CITIC Ltd ,734 7,424,222 Giant China p Industrials Shinhan Financial Group Co Ltd , ,714 Giant South Korea y Financial Services Kenedix Office Investment Corp ,231 5,587 Medium Japan u Real Estate Suntec Real Estate Investment Trust ,939 60,092,722 Large Singapore u Real Estate Hitachi Ltd ,817 7,608,192 Giant Japan a Technology Corning Inc ,456 3,895,955 Large United States a Technology Ado Properties SA , ,558 Medium Germany u Real Estate Infosys Ltd ADR ,309 2,470,280 Giant India a Technology Royal Mail PLC ,935 15,331,279 Medium United Kingdom p Industrials Fresenius SE & Co KGaA , ,206 Giant Germany d Healthcare Amgen Inc , ,379 Giant United States d Healthcare CTBC Financial Holding Co Ltd ,958 27,829,708 Large Taiwan y Financial Services Mack-Cali Realty Corp , ,419 Small United States u Real Estate Munchener Ruckversicherungs-Gesellschaft AG , ,592 Large Germany y Financial Services Ally Financial Inc ,639 4,700,187 Medium United States y Financial Services CyrusOne Inc , ,926 Medium United States u Real Estate Orange SA ,844 3,270,712 Giant France i Communication Services Power Finance Corp Ltd ,704 5,940,248 Large India y Financial Services Standard Chartered PLC ,163 5,386,263 Large United Kingdom y Financial Services Hyundai Fire & Marine Insurance Co Ltd , ,073 Large South Korea y Financial Services Great Portland Estates PLC ,394 1,917,157 Medium United Kingdom u Real Estate Nissan Motor Co Ltd ,264 8,441,332 Giant Japan t Consumer Cyclical AmorePacific Corp ,875 37,268 Large South Korea s Consumer Defensive Dr Pepper Snapple Group Inc ,814 1,310,976 Medium United States s Consumer Defensive Chesapeake Lodging Trust , ,939 Small United States u Real Estate Tokio Marine Holdings Inc ,340 2,032,262 Giant Japan y Financial Services Safran SA , ,434 Giant France p Industrials CRH PLC ,280 1,404,817 Large United Kingdom r Basic Materials Fiat Chrysler Automobiles NV ,782 4,678,934 Large United Kingdom t Consumer Cyclical Sinopec Shanghai Petrochemical Co Ltd H ,234 18,431,711 Large China o Energy Hong Kong Exchanges and Clearing Ltd ,179 1,993,275 Giant Hong Kong y Financial Services Mr Price Group Ltd , ,598 Medium South Africa t Consumer Cyclical Terna SpA ,240 14,365,622 Large Italy f Utilities