Collective Investment Trusts
Disciplined Value CIT
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
Daily Price
$18.58
Daily $ Change
$0.06
Daily % Change
0.32%
as of 04/18/2024
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
YTD
9.66%
1 Year
17.48%
3 Year
7.62%
5 Year
9.69%
10 Year
10.42%
Inception
(06/06/2017)
12.64%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| JP MORGAN CHASE & CO | 4.47% |
| HOME DEPOT INC | 4.01% |
| BROADCOM INC | 3.67% |
| MERCK & CO INC | 3.64% |
| EXXON MOBIL CORP | 3.01% |
| CATERPILLAR INC | 2.99% |
| JOHNSON & JOHNSON | 2.99% |
| CHEVRON CORP | 2.54% |
| QUALCOMM INC | 2.49% |
| CISCO SYSTEMS INC | 2.47% |
This investment list is unaudited and excludes cash.
| Communication Services | 3.01% | |
| Consumer Discretionary | 5.14% | |
| Consumer Staples | 6.18% | |
| Energy | 14.98% | |
| Financials | 15.42% | |
| Health Care | 16.12% | |
| Industrials | 19.25% | |
| Information Technology | 17.46% | |
| Materials | 2.44% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Manning & Napier when referencing GICS sectors. Nether MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 10,669 | $1,131,660.83 |
| ABBOTT LABORATORIES | US | ABT | 19,996 | $2,272,745.36 |
| ANALOG DEVICES INC | US | ADI | 10,285 | $2,034,270.15 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 11,568 | $726,586.08 |
| BANK OF AMERICA CORP | US | BAC | 77,377 | $2,934,135.84 |
| BAXTER INTERNATIONAL INC | US | BAX | 11,303 | $483,090.22 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 30,494 | $1,653,689.62 |
| BROADCOM INC | US | AVGO | 3,335 | $4,420,242.35 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 3,644 | $746,509.84 |
| BUNGE LIMITED | US | BG | 4,550 | $466,466.00 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 4,728 | $359,989.92 |
| CAMPBELL SOUP CO | US | CPB | 10,865 | $482,949.25 |
| CATERPILLAR INC | US | CAT | 9,831 | $3,602,373.33 |
| CHEVRON CORP | US | CVX | 19,375 | $3,056,212.50 |
| CISCO SYSTEMS INC | US | CSCO | 59,593 | $2,974,286.63 |
| CITIGROUP INC | US | C | 34,613 | $2,188,926.12 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 9,501 | $696,328.29 |
| COLGATE-PALMOLIVE CO | US | CL | 16,685 | $1,502,484.25 |
| COMCAST CORP-CL A | US | CMCSA | 63,052 | $2,733,304.20 |
| CONAGRA BRAND INC. | US | CAG | 15,604 | $462,502.56 |
| CONOCOPHILLIPS | US | COP | 16,055 | $2,043,480.40 |
| CORNING INC | US | GLW | 16,140 | $531,974.40 |
| COTERRA ENERGY INC | US | CTRA | 18,924 | $527,601.12 |
| CUMMINS INC | US | CMI | 4,011 | $1,181,841.15 |
| CVS HEALTH CORP | US | CVS | 16,104 | $1,284,455.04 |
| DEVON ENERGY CORPORATION | US | DVN | 13,122 | $658,461.96 |
| DIAMONDBACK ENERGY INC | US | FANG | 3,756 | $744,326.52 |
| DOW INC | US | DOW | 13,831 | $801,229.83 |
| DREYFUS GVT CSH MANAGEMENT | US | 2,425,760.9 | $2,425,760.90 | |
| EBAY INC | US | EBAY | 12,791 | $675,108.98 |
| EMERSON ELEC CO | US | EMR | 13,202 | $1,497,370.84 |
| EOG RESOURCES INC | US | EOG | 9,957 | $1,272,902.88 |
| EXXON MOBIL CORP | US | XOM | 31,116 | $3,616,923.84 |
| FEDEX CORPORATION | US | FDX | 3,818 | $1,106,227.32 |
| FIFTH THIRD BANCORP | US | FITB | 19,824 | $737,651.04 |
| FMC CORP | US | FMC | 4,539 | $289,134.30 |
| GENERAL DYNAMICS CORP | US | GD | 5,746 | $1,623,187.54 |
| GENERAL MLS INC | US | GIS | 13,906 | $973,002.82 |
| GENUINE PARTS CO | US | GPC | 4,365 | $676,269.45 |
| GILEAD SCIENCES INC | US | GILD | 23,797 | $1,743,130.25 |
| HALLIBURTON CO | US | HAL | 16,665 | $656,934.30 |
| HARTFORD FINL SVCS | US | HIG | 6,228 | $641,795.40 |
| HOME DEPOT INC | US | HD | 12,585 | $4,827,606.00 |
| HONEYWELL INTERNATIONAL INC | US | HON | 11,085 | $2,275,196.25 |
| HUNTINGTON BANCSHARES | US | HBAN | 32,560 | $454,212.00 |
| INTERNATIONAL BUSINESS MACH CORP | US | IBM | 11,050 | $2,110,108.00 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 6,582 | $565,986.18 |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 3,778 | $475,536.86 |
| JOHNSON & JOHNSON | US | JNJ | 22,723 | $3,594,551.37 |
| JP MORGAN CHASE & CO | US | JPM | 26,824 | $5,372,847.20 |
| KELLOGG CO | US | K | 6,735 | $385,848.15 |
| KRAFT HEINZ CO/THE | US | KHC | 19,761 | $729,180.90 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 4,218 | $898,855.80 |
| LOCKHEED MARTIN CORP | US | LMT | 4,464 | $2,030,539.68 |
| MARATHON OIL CORP | US | MRO | 14,266 | $404,298.44 |
| MARATHON PETROLEUM CORP | US | MPC | 8,780 | $1,769,170.00 |
| MEDTRONIC INC | IE | MDT | 19,847 | $1,729,666.05 |
| MERCK & CO INC | US | MRK | 33,153 | $4,374,538.35 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 11,552 | $1,036,329.92 |
| NETAPP INC | US | NTAP | 7,157 | $751,270.29 |
| NORFOLK SOUTHN CORP | US | NSC | 4,313 | $1,099,254.31 |
| OMNICOM GROUP | US | OMC | 6,771 | $655,161.96 |
| PACKAGING CORP OF AMERICA | US | PKG | 2,999 | $569,150.22 |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 19,318 | $227,372.86 |
| PFIZER INC | US | PFE | 62,329 | $1,729,629.75 |
| PHILLIPS 66 | US | PSX | 7,504 | $1,225,703.36 |
| PPG INDUSTRIES INC | US | PPG | 4,942 | $716,095.80 |
| QUALCOMM INC | US | QCOM | 17,708 | $2,997,964.40 |
| QUEST DIAGNOSTICS INC | US | DGX | 3,955 | $526,450.05 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 15,988 | $1,559,309.64 |
| REGIONS FINANCIAL CORP. | US | RF | 29,519 | $621,079.76 |
| SCHLUMBERGER LTD | US | SLB | 20,351 | $1,115,438.31 |
| SKYWORKS SOLUTIONS INC | US | SWKS | 4,386 | $475,091.52 |
| SYSCO CORP | US | SYY | 8,918 | $723,963.24 |
| TE CONNECTIVITY LIMITED | CH | TEL | 6,655 | $966,572.20 |
| TEXAS INSTRUMENTS INC | US | TXN | 11,563 | $2,014,390.23 |
| TRAVELLERS COS INC | US | TRV | 5,538 | $1,274,515.32 |
| TRUIST FINANCIAL CORP | US | TFC | 21,143 | $824,154.14 |
| TYSON FOODS INC -CL A | US | TSN | 8,733 | $512,889.09 |
| U.S. BANCORP | US | USB | 28,785 | $1,286,689.50 |
| UNION PAC CORP | US | UNP | 9,778 | $2,404,703.54 |
| UNITED PARCEL SERVICE | US | UPS | 11,072 | $1,645,631.36 |
| VALERO ENERGY | US | VLO | 5,474 | $934,357.06 |
| WELLS FARGO COMPANY | US | WFC | 38,237 | $2,216,216.52 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.
Daily Price
$18.58
Daily $ Change
$0.06
Daily % Change
0.32%
as of 04/18/2024
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
YTD
9.66%
1 Year
17.48%
3 Year
7.62%
5 Year
9.69%
10 Year
10.42%
Inception
(06/06/2017)
12.64%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| JP MORGAN CHASE & CO | 4.47% |
| HOME DEPOT INC | 4.01% |
| BROADCOM INC | 3.67% |
| MERCK & CO INC | 3.64% |
| EXXON MOBIL CORP | 3.01% |
| CATERPILLAR INC | 2.99% |
| JOHNSON & JOHNSON | 2.99% |
| CHEVRON CORP | 2.54% |
| QUALCOMM INC | 2.49% |
| CISCO SYSTEMS INC | 2.47% |
This investment list is unaudited and excludes cash.
| Communication Services | 3.01% | |
| Consumer Discretionary | 5.14% | |
| Consumer Staples | 6.18% | |
| Energy | 14.98% | |
| Financials | 15.42% | |
| Health Care | 16.12% | |
| Industrials | 19.25% | |
| Information Technology | 17.46% | |
| Materials | 2.44% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Manning & Napier when referencing GICS sectors. Nether MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 10,669 | $1,131,660.83 |
| ABBOTT LABORATORIES | US | ABT | 19,996 | $2,272,745.36 |
| ANALOG DEVICES INC | US | ADI | 10,285 | $2,034,270.15 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 11,568 | $726,586.08 |
| BANK OF AMERICA CORP | US | BAC | 77,377 | $2,934,135.84 |
| BAXTER INTERNATIONAL INC | US | BAX | 11,303 | $483,090.22 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 30,494 | $1,653,689.62 |
| BROADCOM INC | US | AVGO | 3,335 | $4,420,242.35 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 3,644 | $746,509.84 |
| BUNGE LIMITED | US | BG | 4,550 | $466,466.00 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 4,728 | $359,989.92 |
| CAMPBELL SOUP CO | US | CPB | 10,865 | $482,949.25 |
| CATERPILLAR INC | US | CAT | 9,831 | $3,602,373.33 |
| CHEVRON CORP | US | CVX | 19,375 | $3,056,212.50 |
| CISCO SYSTEMS INC | US | CSCO | 59,593 | $2,974,286.63 |
| CITIGROUP INC | US | C | 34,613 | $2,188,926.12 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 9,501 | $696,328.29 |
| COLGATE-PALMOLIVE CO | US | CL | 16,685 | $1,502,484.25 |
| COMCAST CORP-CL A | US | CMCSA | 63,052 | $2,733,304.20 |
| CONAGRA BRAND INC. | US | CAG | 15,604 | $462,502.56 |
| CONOCOPHILLIPS | US | COP | 16,055 | $2,043,480.40 |
| CORNING INC | US | GLW | 16,140 | $531,974.40 |
| COTERRA ENERGY INC | US | CTRA | 18,924 | $527,601.12 |
| CUMMINS INC | US | CMI | 4,011 | $1,181,841.15 |
| CVS HEALTH CORP | US | CVS | 16,104 | $1,284,455.04 |
| DEVON ENERGY CORPORATION | US | DVN | 13,122 | $658,461.96 |
| DIAMONDBACK ENERGY INC | US | FANG | 3,756 | $744,326.52 |
| DOW INC | US | DOW | 13,831 | $801,229.83 |
| DREYFUS GVT CSH MANAGEMENT | US | 2,425,760.9 | $2,425,760.90 | |
| EBAY INC | US | EBAY | 12,791 | $675,108.98 |
| EMERSON ELEC CO | US | EMR | 13,202 | $1,497,370.84 |
| EOG RESOURCES INC | US | EOG | 9,957 | $1,272,902.88 |
| EXXON MOBIL CORP | US | XOM | 31,116 | $3,616,923.84 |
| FEDEX CORPORATION | US | FDX | 3,818 | $1,106,227.32 |
| FIFTH THIRD BANCORP | US | FITB | 19,824 | $737,651.04 |
| FMC CORP | US | FMC | 4,539 | $289,134.30 |
| GENERAL DYNAMICS CORP | US | GD | 5,746 | $1,623,187.54 |
| GENERAL MLS INC | US | GIS | 13,906 | $973,002.82 |
| GENUINE PARTS CO | US | GPC | 4,365 | $676,269.45 |
| GILEAD SCIENCES INC | US | GILD | 23,797 | $1,743,130.25 |
| HALLIBURTON CO | US | HAL | 16,665 | $656,934.30 |
| HARTFORD FINL SVCS | US | HIG | 6,228 | $641,795.40 |
| HOME DEPOT INC | US | HD | 12,585 | $4,827,606.00 |
| HONEYWELL INTERNATIONAL INC | US | HON | 11,085 | $2,275,196.25 |
| HUNTINGTON BANCSHARES | US | HBAN | 32,560 | $454,212.00 |
| INTERNATIONAL BUSINESS MACH CORP | US | IBM | 11,050 | $2,110,108.00 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 6,582 | $565,986.18 |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 3,778 | $475,536.86 |
| JOHNSON & JOHNSON | US | JNJ | 22,723 | $3,594,551.37 |
| JP MORGAN CHASE & CO | US | JPM | 26,824 | $5,372,847.20 |
| KELLOGG CO | US | K | 6,735 | $385,848.15 |
| KRAFT HEINZ CO/THE | US | KHC | 19,761 | $729,180.90 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 4,218 | $898,855.80 |
| LOCKHEED MARTIN CORP | US | LMT | 4,464 | $2,030,539.68 |
| MARATHON OIL CORP | US | MRO | 14,266 | $404,298.44 |
| MARATHON PETROLEUM CORP | US | MPC | 8,780 | $1,769,170.00 |
| MEDTRONIC INC | IE | MDT | 19,847 | $1,729,666.05 |
| MERCK & CO INC | US | MRK | 33,153 | $4,374,538.35 |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 11,552 | $1,036,329.92 |
| NETAPP INC | US | NTAP | 7,157 | $751,270.29 |
| NORFOLK SOUTHN CORP | US | NSC | 4,313 | $1,099,254.31 |
| OMNICOM GROUP | US | OMC | 6,771 | $655,161.96 |
| PACKAGING CORP OF AMERICA | US | PKG | 2,999 | $569,150.22 |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 19,318 | $227,372.86 |
| PFIZER INC | US | PFE | 62,329 | $1,729,629.75 |
| PHILLIPS 66 | US | PSX | 7,504 | $1,225,703.36 |
| PPG INDUSTRIES INC | US | PPG | 4,942 | $716,095.80 |
| QUALCOMM INC | US | QCOM | 17,708 | $2,997,964.40 |
| QUEST DIAGNOSTICS INC | US | DGX | 3,955 | $526,450.05 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 15,988 | $1,559,309.64 |
| REGIONS FINANCIAL CORP. | US | RF | 29,519 | $621,079.76 |
| SCHLUMBERGER LTD | US | SLB | 20,351 | $1,115,438.31 |
| SKYWORKS SOLUTIONS INC | US | SWKS | 4,386 | $475,091.52 |
| SYSCO CORP | US | SYY | 8,918 | $723,963.24 |
| TE CONNECTIVITY LIMITED | CH | TEL | 6,655 | $966,572.20 |
| TEXAS INSTRUMENTS INC | US | TXN | 11,563 | $2,014,390.23 |
| TRAVELLERS COS INC | US | TRV | 5,538 | $1,274,515.32 |
| TRUIST FINANCIAL CORP | US | TFC | 21,143 | $824,154.14 |
| TYSON FOODS INC -CL A | US | TSN | 8,733 | $512,889.09 |
| U.S. BANCORP | US | USB | 28,785 | $1,286,689.50 |
| UNION PAC CORP | US | UNP | 9,778 | $2,404,703.54 |
| UNITED PARCEL SERVICE | US | UPS | 11,072 | $1,645,631.36 |
| VALERO ENERGY | US | VLO | 5,474 | $934,357.06 |
| WELLS FARGO COMPANY | US | WFC | 38,237 | $2,216,216.52 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
About The Fund Manager
Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.