Investment Objective

To provide capital preservation, with income and capital growth as secondary objectives.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek to minimize declines in account value with the potential for modest growth and income generation
  • Who want to assume a minimal amount of capital risk through limited stock exposure

About Our Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 7-20 Years 15+ Years
5-35% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Daily Price

$31.59

Daily $ Change

$0.14

Daily % Change

0.44%

as of 06/23/2022

CUSIP

563821149

Inception Date

01/01/2000

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Applications & Forms

Performance

As of 05/31/2022

YTD

-7.25%

1 Year

-5.52%

3 Year

4.72%

5 Year

4.33%

10 Year

4.49%

Inception
(01/01/2000)

5.38%

Returns are net of Pro-Mix® CIT Class S expenses. 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.

Expense Ratio

Gross 0.88%
Net 0.85%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 31.39%
GOVERNMENT AGENCY 8.79%
TREASURY BONDS 2.09%
TENCENT HOLDINGS 3.97500 04/11/2029 1.65%
CENOVUS ENERGY INC 6.75000 11/15/2039 1.21%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.17%
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 1.08%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.03%
MAGALLANES INC 4.05400 03/15/2029 1.02%
AMAZON.COM INC 1.01%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds 78.01%
Stocks 18.62%
Cash 3.37%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 4.87%
Small Capitalization 0.51%
Mid Capitalization 1.38%
Large Capitalization 11.87%
Long Term Fixed Income 16.87%
Intermediate Term Fixed Income 35.51%
Short Term Fixed Income 25.62%
Cash 3.37%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 83 $9,749.18
ACTIVISION INC US ATVI 2,257 $175,775.16
ADIDAS AG-SPONSORED ADR DE ADDYY 1,537 $152,378.18
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 420,000 $368,322.12
ADYEN NV UNSPON ADR NL ADYEY 8,780 $135,914.40
AGREE REALTY CORP US ADC 151 $10,505.07
AIR LIQUIDE-ADR FR AIQUY 7,907 $276,033.37
AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $399,418.17
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 39,701.43 $41,652.30
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 810,000 $705,221.13
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 210,000 $174,687.52
ALLSTATE CORPORATION US ALL 30 $4,100.70
ALPHABET INC-CL A US GOOGL 134 $304,882.16
AMAZON.COM INC US AMZN 382 $918,400.58
AMAZON.COM INC 3.30000 04/13/2027 US 780,000 $779,281.43
DIAGEO PLC GB DGE LN 3,350 $155,645.27
AMERICAN HOMES 4 RENT- A US AMH 538 $19,884.48
AMERICAN TOWER REIT INC US AMT 80 $20,490.40
ANALOG DEVICES INC US ADI 48 $8,083.20
APPLE HOSPITALITY REIT INC US APLE 1,832 $30,612.72
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,580.06
ARCHER-DANIELS-MIDLAND CO US ADM 55 $4,995.10
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $342,324.53
AUTOMATIC DATA PROCESSING US ADP 33 $7,357.02
AVALONBAY COMMUNITIES INC US AVB 128 $26,618.88
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 1,130,000 $979,184.79
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $384,700.36
BANK OF AMERICA CORP 2.68700 04/22/2032 US 650,000 $568,692.20
BARRICK GOLD CORP CA GOLD 5,123 $104,970.27
BAXTER INTERNATIONAL INC US BAX 42 $3,194.10
BEST BUY INC US BBY 29 $2,379.74
BIOMARIN PHARMACEUTICAL INC US BMRN 4,075 $306,154.75
BLACKROCK INC US BLK 241 $161,248.28
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 450,000 $391,516.02
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 440,000 $400,287.19
DECHRA PHARMACEUTICALS PLC GB DPH LN 465 $21,314.41
BRANDYWINE REALTY TRUST US BDN 911 $10,157.65
BRISTOL MYERS SQUIBB CO US BMY 146 $11,015.70
BROADRIDGE FINANCIAL SOLUTIONS US BR 16 $2,339.52
JONAH ENERGY PARENT LLC US 2,051 $110,056.66
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 345,188.81 $316,686.71
SORT 2020-1 A2 1.99000 07/15/2060 US 275,632.02 $242,030.74
C.H. ROBINSON WORLDWIDE INC US CHRW 21 $2,278.71
CIM 2019-INV1 A1 4.00000 02/25/2049 US 14,781.37 $14,764.16
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 117,260.19 $110,017.31
COTERRA ENERGY INC US CTRA 76 $2,609.08
CAMDEN PROPERTY TRUST US CPT 123 $17,649.27
CAMECO CORP CA CCJ 335 $8,197.45
CAMPBELL SOUP CO US CPB 47 $2,251.77
CANADIAN NATIONAL RAILWAY CO CA CNI 2,239 $254,753.42
CARETRUST REIT INC US CTRE 608 $11,266.24
CATERPILLAR INC US CAT 41 $8,849.85
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 980,000 $1,104,367.07
CHARTER COMMUNICATIONS INC-A US CHTR 595 $301,623.35
CHEVRON CORP US CVX 76 $13,274.16
CINCINNATI FINANCIAL CORP US CINF 22 $2,812.92
CISCO SYSTEMS INC US CSCO 259 $11,667.95
CITIGROUP INC US C 157 $8,385.37
CITIGROUP INC 1.46200 06/09/2027 US 620,000 $558,478.87
CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $703,792.11
COCA COLA CO/THE US KO 4,991 $316,329.58
COLGATE-PALMOLIVE CO US CL 77 $6,068.37
COMCAST CORP-CL A US CMCSA 273 $12,088.44
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 168,315.66 $164,335.76
COMMUNITY HEALTHCARE TRUST I US CHCT 317 $11,944.56
CONAGRA BRAND INC. US CAG 70 $2,302.30
CONOCOPHILLIPS US COP 69 $7,752.84
CONTROLADORA VUELA CIA DE AV MX VLRS 632 $9,846.56
COPART INC US CPRT 1,475 $168,931.75
COUSINS PROPERTIES INC US CUZ 751 $25,947.05
CAALT 2021-2A A 0.96000 02/15/2030 US 800,000 $770,070.19
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 480,000 $436,527.02
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 71,373.24 $65,062.85
CUMMINS INC US CMI 18 $3,764.16
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 410,000 $373,739.42
KIMBERLY CLARK DE MEXICO S.A.B. MX 14,900 $23,053.53
DEVON ENERGY CORPORATION US DVN 54 $4,044.60
DIAMONDBACK ENERGY INC US FANG 16 $2,432.32
DIGITAL REALTY TRUST INC US DLR 231 $32,245.29
DOLLAR GENERAL CORP US DG 830 $182,882.20
DOLLAR TREE STORES INC US DLTR 1,175 $188,387.75
DOW INC US DOW 58 $3,942.84
DUKE RLTY INVTS INC US DRE 524 $27,682.92
EOG RESOURCES INC US EOG 38 $5,204.48
EASTMAN CHEM CO US EMN 20 $2,203.20
EBAY INC US EBAY 52 $2,530.84
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 50,000 $47,380.48
ELECTRONIC ARTS US EA 1,407 $195,080.55
EMERSON ELEC CO US EMR 59 $5,230.94
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $899,333.68
EQUINIX INC US EQIX 383 $263,155.47
EQUITY LIFESTYLE PROPERTIES US ELS 463 $35,049.10
ESSEX PROPERTY TRUST INC US ESS 79 $22,424.15
EXPEDIA GROUP INC 3.25000 02/15/2030 US 430,000 $380,223.99
EXTRA SPACE STORAGE INC US EXR 115 $20,493.00
FMC CORP US FMC 3,289 $403,165.62
FREMF 2015-K42 B FLT 3.84863 01/25/2048 US 180,000 $177,693.29
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 130,000 $132,404.72
FREMF 2014-K41 B FLT 3.83302 11/25/2047 US 700,000 $692,876.00
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 9,824,184.18 $4,633.18
META PLATFORMS INC US FB 2,461 $476,548.04
FHLM POOL G05906 6.00000 04/01/2040 US 6,876.16 $7,597.99
FHLM POOL G06789 6.00000 05/01/2040 US 64,990.02 $72,089.61
FHLM POOL G13331 5.50000 10/01/2023 US 3,649.98 $3,710.38
FHLM POOL G13078 6.00000 03/01/2023 US 86.5 $86.82
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 140,423.78 $144,679.18
FHLM POOL FG G08734 4.00000 11/01/2046 US 15,912.82 $16,145.08
FHLM POOL C91746 4.50000 12/01/2033 US 18,116.65 $18,809.14
FHLM POOL Q93451 4.50000 08/01/2040 US 195,808.05 $204,544.92
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 748,546 $720,187.22
FHLM POOL SD8230 4.50000 06/01/2052 US 725,000 $738,821.48
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 109,977.01 $111,721.24
FNR 2018-31 KP 3.50000 07/25/2047 US 15,979.36 $16,074.65
FHMS K030 X1 FLT 0.14558 04/25/2023 US 26,612,953.74 $30,949.00
FHMS K032 X1 FLT 0.06799 05/25/2023 US 16,000,486.07 $13,716.58
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 100,125.84 $104,490.83
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 28,612.98 $29,860.37
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 37,967.5 $39,622.70
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 318,718.07 $348,448.77
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 279,897.88 $291,872.83
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,800.11 $5,372.29
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 140,015.56 $141,942.37
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 749,267.02 $741,979.08
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 728,714.17 $724,690.70
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 11.36 $11.36
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 3,266.62 $3,566.14
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,598.7 $1,715.96
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 13,682.17 $15,384.67
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 8,072.07 $8,827.50
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,200.01 $2,390.90
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 4,971.07 $5,456.79
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 497.36 $500.37
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 4,917.85 $4,937.04
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 3,181.91 $3,382.86
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 3,269.79 $3,476.29
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 6,356.82 $6,634.72
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 96,691.86 $100,345.84
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 85,606.81 $88,841.88
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 123,454.86 $127,085.40
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 68,159.85 $68,201.22
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 870,413.47 $818,739.44
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 752,625.66 $738,336.05
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 743,399.65 $744,364.03
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 740,000 $748,950.30
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 14,535.48 $16,050.82
FEDEX CORPORATION US FDX 645 $144,854.10
FIFTH THIRD BANCORP US FITB 85 $3,351.55
FLX 2021-1A A2 3.25000 11/27/2051 US 670,000 $620,798.28
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $452,918.26
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 56,019.71 $56,012.15
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 829,402.71 $770,813.87
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 312,117.51 $289,467.71
GSMBS 2021-INV1 A9 1.43446 12/25/2051 US 415,741.06 $393,424.41
GNMA POOL 660997 5.50000 05/15/2037 US 19,463.54 $20,713.83
GENERAL DYNAMICS CORP US GD 26 $5,847.66
GENERAL MLS INC US GIS 64 $4,470.40
GENUINE PARTS CO US GPC 20 $2,734.60
GETTY REALTY CORP US GTY 410 $11,455.40
GILEAD SCIENCES INC US GILD 113 $7,328.05
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 127,666.91 $124,337.61
GRAPHIC PACKAGING HOLDING CO US GPK 13,232 $294,544.32
GREENIDGE GEN HLD INC US 2,600 $51,792.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 66 $9,925.08
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 48 $10,429.92
AIRBUS SE FR AIR FP 150 $17,579.37
ADIDAS AG DE ADS GR 164 $32,581.49
HCA INC 4.12500 06/15/2029 US 560,000 $545,129.88
L'OREAL FR OR FP 18 $6,357.81
HAWAII ST 2.68200 10/01/2038 US 380,000 $300,915.63
HEALTHCARE REALTY TRUST INC US HR 525 $15,261.75
HEALTHCARE TRUST OF AMERICA US HTA 360 $10,818.00
HEINEKEN NV-SPN ADR NL HEINY 3,282 $165,544.08
HOME DEPOT INC US HD 57 $17,256.75
HONEYWELL INTERNATIONAL INC US HON 52 $10,068.24
IDEXX LABORATORIES INC US IDXX 338 $132,367.56
KERRY GROUP PLC-A IE KYGA ID 116 $12,004.87
ILLINOIS TOOL WKS INC US ITW 30 $6,242.10
IMPRL 2021-NQM3 1.59500 11/25/2056 US 379,993.76 $360,743.24
INDEPENDENCE REALTY TRUST IN US IRT 544 $12,789.44
INTEL CORP US INTC 287 $12,748.54
INTERCONTINENTALEXCHANGE INC US ICE 2,769 $283,517.91
INTERNATIONAL FLVRS & FRAGRANCES US IFF 30 $3,965.10
INVITATION HOMES INC US INVH 869 $32,778.68
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,000 $97,812.44
JP MORGAN CHASE & CO US JPM 149 $19,702.27
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 104,873.22 $101,497.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 920,000 $932,174.03
JOHNSON & JOHNSON US JNJ 3,393 $609,145.29
KREF 2021-FL2 A 1.95671 02/15/2039 US 400,000 $387,473.04
KEYCORP US KEY 94 $1,876.24
KROGER CO US KR 73 $3,866.81
L3HARRIS TECHNOLOGIES INC US LHX 740 $178,266.00
BEIERSDORF AG DE BEI GR 296 $30,722.24
LENNAR CORP US LEN 28 $2,247.00
LIFE STORAGE INC US LSI 202 $23,585.52
LOCKHEED MARTIN CORP US LMT 20 $8,802.20
LULULEMON - ADR CA LULU 656 $192,004.64
MAGALLANES INC 4.05400 03/15/2029 US 970,000 $929,880.64
ATOS SE FR ATO FP 905 $23,823.66
MARATHON PETROLEUM CORP US MPC 41 $4,173.39
MARRIOTT VACATIONS WORLD US VAC 86 $12,703.92
MASTERCARD INC-CLASS A US MA 1,496 $535,373.52
MCDONALDS CORP US MCD 34 $8,575.14
ACCOR SA FR AC FP 375 $12,339.28
MERCADOLIBRE INC AR MELI 20 $15,717.60
MERCK & CO INC US MRK 162 $14,908.86
MICROSOFT CORP US MSFT 2,140 $581,801.80
MICROCHIP TECHNOLOGY INC US MCHP 47 $3,414.55
MID-AMERICA APARTMENT COMM US MAA 163 $29,503.00
MONDELEZ INTERNATIONAL INC US MDLZ 5,674 $360,639.44
MOODY'S CORPORATION US MCO 994 $299,760.58
MOTOROLA SOLUTIONS INC US MSI 19 $4,175.06
NAVIENT CORP 6.75000 06/25/2025 US 125,000 $126,166.87
NETAPP INC US NTAP 33 $2,374.35
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 148,760.6 $146,120.68
NRZT 2015-2A A1 3.75000 08/25/2055 US 162,212.63 $158,031.15
NRZT 2016-4A A1 3.75000 11/25/2056 US 223,724.54 $218,638.77
KEYENCE CORP JP 6861 JP 100 $39,757.66
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $208,712.11
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 430,000 $390,861.65
NEWMONT GOLDCORP CORP US NEM 1,551 $105,235.35
NEXPOINT RESIDENTIAL US NXRT 155.9 $11,455.84
NORFOLK SOUTHN CORP US NSC 662 $158,654.92
NIKON CORP JP 7731 JP 2,400 $29,779.93
NORTHROP GRUMMAN CORP US NOC 399 $186,720.03
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $13.50
NOVARTIS AG- REG CH NVS 4,685 $426,053.90
NUCOR CORP US NUE 28 $3,708.88
OMNICOM GROUP US OMC 33 $2,462.13
SONY CORP FIRST SECTION JP 6758 JP 200 $18,757.89
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $353,855.19
OXFIN 2020-1A A2 3.10100 02/15/2028 US 239,254.75 $237,874.82
OXFIN 2019-1A A2 4.45900 02/15/2027 US 476,480.6 $475,349.53
OXFIN 2022-1A 3.60200 02/15/2030 US 575,000 $547,319.62
PPG INDUSTRIES INC US PPG 20 $2,529.80
PACKAGING CORP OF AMERICA US PKG 15 $2,359.20
PARKER HANNIFIN CORP US PH 11 $2,993.87
DEUTSCHE BOERSE AG DE DB1 GR 235 $39,494.84
PAYPAL HOLDINGS INC US PYPL 3,283 $279,744.43
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 755,512.75 $727,054.78
NESTLE SA-REGISTERED CH NESN SW 2,643 $323,284.44
PFIZER INC US PFE 235 $12,464.40
PIONEER NATURAL RESOURCES CO US PXD 17 $4,724.98
POPULAR INC 6.12500 09/14/2023 PR 125,000 $126,414.78
PROCTER & GAMBLE CO US PG 125 $18,485.00
PROLOGIS US PLD 802 $102,238.96
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 643,696.61 $565,419.19
PFMT 2021-2 A2A 2.00000 04/25/2051 US 414,860.36 $375,828.55
PUBLIC STORAGE INC US PSA 146 $48,273.44
QUALCOMM INC US QCOM 84 $12,030.48
QUALCOMM INC 4.25000 05/20/2032 US 730,000 $758,008.61
QUEST DIAGNOSTICS INC US DGX 19 $2,679.38
RCKT 2021-6 A1 2.50000 12/25/2051 US 409,030.87 $358,784.77
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,675 $39,857.50
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 170,000 $164,508.74
REGIONS FINANCIAL CORP. US RF 132 $2,915.88
REPUBLIC SERVICES INC US RSG 34 $4,550.56
RESTAURANT BRANDS INTERN CA QSR 250 $13,127.50
REXFORD INDUSTRIAL REALITY IN US REXR 495 $31,615.65
GETINGE AB-B SHS SE GETIB SS 718 $20,837.23
ROSS STORES INC US ROST 28 $2,380.56
HEINEKEN NV NL HEIA NA 196 $19,708.40
RYANAIR HOLDINGS - ADR IE RYAAY 1,886 $164,459.20
S&P GLOBAL INC US SPGI 322 $112,532.56
SBA COMMUNICATIONS CORP US SBAC 1,468 $494,143.48
NAVIENT CORP 5.50000 01/25/2023 US 50,000 $50,210.20
SLMA 2006-10 A6 FLT 1.33400 03/25/2044 US 104,367.76 $99,095.40
SMB 2015 B A3 2.62471 05/17/2032 US 660,807.98 $665,446.66
SMB 2020-BA A1A 1.29000 07/15/2053 US 396,198.97 $369,400.75
SOFI 2017-D A2FX 2.65000 09/25/2040 US 199,095.8 $197,113.12
SALESFORCE INC US CRM 1,685 $270,004.40
SEA LTD - ADR SG SE 2,107 $174,164.62
SEAGEN INC US SGEN 2,449 $332,280.32
SEMT 2013-6 A2 3.00000 05/25/2043 US 115,948.05 $108,584.75
SEMT 2013-7 A2 3.00000 06/25/2043 US 76,829.91 $71,990.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 88,599.5 $83,215.55
SEMT 2013-2 1.87400 02/25/2043 US 68,449.31 $61,991.73
SERVICENOW INC US NOW 636 $297,310.92
SHOPIFY INC CA SHOP 15 $5,626.80
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,230,000 $1,062,271.58
SKYWORKS SOLUTIONS INC US SWKS 18 $1,959.66
SMB 2019-B A2A 2.84000 06/15/2037 US 509,372.42 $494,097.72
JM SMUCKER CO/THE-NEW COM WI US SJM 16 $2,005.92
SOFI 2016-C A2B 2.36000 12/27/2032 US 14,024.89 $14,008.70
SOFI 2016-D A2B 2.34000 04/25/2033 US 15,455.69 $15,360.85
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 83,305.79 $82,737.69
SONY CORP SPONSORED ADR JP SONY 1,700 $159,919.00
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $266,558.68
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $730,698.26
STANLEY BLACK & DECKER INC US SWK 16 $1,899.04
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 886,341.61 $609,267.20
STEEL DYNAMICS INC US STLD 28 $2,390.64
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 287,025.3 $267,688.00
SUN COMMUNITIES US SUI 241 $39,555.33
SYNCHRONOSS TECH US 5,900 $130,862.00
SYNERGY ONE LENDING 5.50000 10/14/2026 US 135,000 $120,420.72
TJX COMPANIES INC US TJX 73 $4,640.61
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,837 $175,066.10
TARGET CORP US TGT 28 $4,532.64
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,503,122.43
TERRENO REALTY CORP US TRNO 277 $16,816.67
TEXAS INSTRUMENTS INC US TXN 49 $8,661.24
THERMO FISHER SCIENTIFIC INC US TMO 309 $175,379.13
3M CO US MMM 50 $7,464.50
TPMT 2016-5 A1 2.50000 10/25/2056 US 142,287.54 $141,666.26
TPMT 2017-1 A1 2.75000 10/25/2056 US 62,780.84 $62,533.70
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 107,472.08 $106,402.12
TRACTOR SUPPLY COMPANY US TSCO 11 $2,060.96
TRAVELLERS COS INC US TRV 26 $4,655.04
TCF 2021-1A 1.86000 03/20/2046 US 608,062.5 $533,522.39
TYSON FOODS INC -CL A US TSN 41 $3,674.01
UDR INC US UDR 597 $28,536.60
U.S. BANCORP US USB 130 $6,899.10
UNILEVER PLC - ADR GB UL 8,461 $408,920.13
UNION PAC CORP US UNP 46 $10,109.88
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 108,554.1 $97,711.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,309.55
UNITED PARCEL SERVICE US UPS 828 $150,903.00
US TREASURY N/B 2.50000 02/15/2045 US 1,095,000 $948,030.47
US TREASURY N/B 2.00000 02/15/2050 US 1,210,000 $954,576.56
US TREASURY N/B 1.62500 05/15/2026 US 7,755,000 $7,413,901.21
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 4,165,000 $4,149,869.35
US TREASURY N/B 2.50000 05/15/2024 US 8,445,000 $8,444,010.33
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,685,000 $8,538,440.63
VF CORP US VFC 39 $1,967.94
VENTAS INC US VTR 290 $16,454.60
VERTEX PHARMACEUTICALS INC US VRTX 1,238 $332,588.70
PARAMOUNT GLOBAL CLASS B US PARA 64 $2,197.12
VISA INC - CLASS A SHARES US V 2,510 $532,546.70
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 175,000 $171,778.68
VISTRA OPERATIONS 4.87500 05/13/2024 US 605,000 $607,298.06
WAL MART STORES US WMT 135 $17,365.05
WALGREENS BOOTS ALLIANCE INC US WBA 72 $3,155.76
WARRIOR MET COAL INC 7.87500 12/01/2028 US 45,000 $45,643.52
WASTE MANAGEMENT INC US WM 39 $6,181.89
WELLTOWER INC. US WELL 336 $29,934.24
WIN 2015-1 A1 3.50000 01/20/2045 US 49,758.14 $47,572.15
ZOETIS INC US ZTS 464 $79,311.52
BNY MELLON CASH RESERVE EOD FUND US 29.97 $29.97
ADMIRAL GROUP PLC GB ADM LN 836 $23,405.81
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,300 $9,367.95
UBISOFT ENTERTAINMENT FR UBI FP 478 $25,129.93
DANONE FR BN FP 233 $13,709.14
AIR LIQUIDE FR AI FP 251 $43,967.14
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $110,685.06
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $55,884.69
BRENNTAG AG DE BNR GR 417 $32,266.03
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $16,828.03
KEYWORDS STUDIOS PLC IE KWS LN 195 $5,761.80
S4 CAPITAL PLC GB SFOR LN 3,707 $13,258.39
HELIOS TOWERS PLC GB HTWS LN 7,212 $10,332.93
AVANZA BANK HOLDING AB SE AZA SS 835 $20,117.05
AMERICAN TANKER INC 7.75000 07/02/2025 US 135,000 $128,250.00
SOFTWAREONE HOLDING AG CH SWON SW 1,049 $14,010.16
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 851 $15,045.68
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $199,497.02
PETROTAL CORP 12.00000 02/16/2024 CA 124,000 $127,720.00
FINECOBANK SPA IT FBK IM 2,590 $36,701.82
ALLFUNDS GROUP PLC GB ALLFG NA 778 $7,096.53
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 46,000 $45,971.14
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 200,000 $200,332.66
KENT GLOBAL PLC 10.00000 06/28/2026 GB 50,000 $49,500.00
ROTORK PLC GB ROR LN 5,317 $18,712.70
AUTO TRADER GROUP PLC GB AUTO LN 4,645 $34,554.95
CELLNEX TELECOM SA ES CLNX SM 228 $10,289.45
ASSA ABLOY AB-B SE ASSAB SS 1,152 $28,398.05
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,941 $21,304.60
INTERMEDIATE CAPITAL GROUP GB ICP LN 884 $17,551.10
ADYEN NV NL ADYEN NA 19 $29,424.65
BANK OF N.T. BUTTERFIELD&SON BM NTB 387 $12,221.46
BUNGE LIMITED US BG 20 $2,366.40
EATON CORP PLC US ETN 41 $5,682.60
JOHNSON CONTROLS INTERNATIONAL US JCI 75 $4,088.25
MEDTRONIC INC IE MDT 2,309 $231,246.35
ROYALTY PHARMA PLC- CL A US RPRX 57 $2,344.98
STONECO LTD-A BR STNE 823 $8,262.92
TRANE TECHNOLOGIES IE TT 19 $2,623.14
ALCON INC CH ALC 2,825 $211,112.25
CHUBB LTD CH CB 36 $7,606.44
GARMIN LTD CH GRMN 27 $2,851.74
TE CONNECTIVITY LIMITED CH TEL 27 $3,493.53
LYONDELLBASELL INDU-CL A US LYB 28 $3,199.00
PLAYA HOTELS AND RESORTS US PLYA 1,186 $10,247.04
US DOLLAR US 3,173,554.52 $3,173,554.52
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 186,000 $185,830.03

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests 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 the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. 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.

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

$31.59

Daily $ Change

$0.14

Daily % Change

0.44%

as of 06/23/2022

CUSIP

563821149

Inception Date

01/01/2000

This fund is only available for use within certain qualified employee benefit plans.

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide capital preservation, with income and capital growth as secondary objectives.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks stability with some growth and income potential. Holdings are diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. Stock investments may be focused on dividend paying securities in pursuit of growth opportunities and income generation.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who seek to minimize declines in account value with the potential for modest growth and income generation
  • Who want to assume a minimal amount of capital risk through limited stock exposure

About Our Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 7-20 Years 15+ Years
5-35% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Performance

As of 05/31/2022

YTD

-7.25%

1 Year

-5.52%

3 Year

4.72%

5 Year

4.33%

10 Year

4.49%

Inception
(01/01/2000)

5.38%

Returns are net of Pro-Mix® CIT Class S expenses. 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.

Expense Ratio

Gross 0.88%
Net 0.85%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 05/31/2022

TREASURY NOTES 31.39%
GOVERNMENT AGENCY 8.79%
TREASURY BONDS 2.09%
TENCENT HOLDINGS 3.97500 04/11/2029 1.65%
CENOVUS ENERGY INC 6.75000 11/15/2039 1.21%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.17%
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 1.08%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.03%
MAGALLANES INC 4.05400 03/15/2029 1.02%
AMAZON.COM INC 1.01%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds
78.01%
Stocks
18.62%
Cash
3.37%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
4.87%
Small Capitalization
0.51%
Mid Capitalization
1.38%
Large Capitalization
11.87%
Long Term Fixed Income
16.87%
Intermediate Term Fixed Income
35.51%
Short Term Fixed Income
25.62%
Cash
3.37%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 83 $9,749.18
ACTIVISION INC US ATVI 2,257 $175,775.16
ADIDAS AG-SPONSORED ADR DE ADDYY 1,537 $152,378.18
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 420,000 $368,322.12
ADYEN NV UNSPON ADR NL ADYEY 8,780 $135,914.40
AGREE REALTY CORP US ADC 151 $10,505.07
AIR LIQUIDE-ADR FR AIQUY 7,907 $276,033.37
AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $399,418.17
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 39,701.43 $41,652.30
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 810,000 $705,221.13
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 210,000 $174,687.52
ALLSTATE CORPORATION US ALL 30 $4,100.70
ALPHABET INC-CL A US GOOGL 134 $304,882.16
AMAZON.COM INC US AMZN 382 $918,400.58
AMAZON.COM INC 3.30000 04/13/2027 US 780,000 $779,281.43
DIAGEO PLC GB DGE LN 3,350 $155,645.27
AMERICAN HOMES 4 RENT- A US AMH 538 $19,884.48
AMERICAN TOWER REIT INC US AMT 80 $20,490.40
ANALOG DEVICES INC US ADI 48 $8,083.20
APPLE HOSPITALITY REIT INC US APLE 1,832 $30,612.72
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,580.06
ARCHER-DANIELS-MIDLAND CO US ADM 55 $4,995.10
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $342,324.53
AUTOMATIC DATA PROCESSING US ADP 33 $7,357.02
AVALONBAY COMMUNITIES INC US AVB 128 $26,618.88
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 1,130,000 $979,184.79
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $384,700.36
BANK OF AMERICA CORP 2.68700 04/22/2032 US 650,000 $568,692.20
BARRICK GOLD CORP CA GOLD 5,123 $104,970.27
BAXTER INTERNATIONAL INC US BAX 42 $3,194.10
BEST BUY INC US BBY 29 $2,379.74
BIOMARIN PHARMACEUTICAL INC US BMRN 4,075 $306,154.75
BLACKROCK INC US BLK 241 $161,248.28
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 450,000 $391,516.02
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 440,000 $400,287.19
DECHRA PHARMACEUTICALS PLC GB DPH LN 465 $21,314.41
BRANDYWINE REALTY TRUST US BDN 911 $10,157.65
BRISTOL MYERS SQUIBB CO US BMY 146 $11,015.70
BROADRIDGE FINANCIAL SOLUTIONS US BR 16 $2,339.52
JONAH ENERGY PARENT LLC US 2,051 $110,056.66
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 345,188.81 $316,686.71
SORT 2020-1 A2 1.99000 07/15/2060 US 275,632.02 $242,030.74
C.H. ROBINSON WORLDWIDE INC US CHRW 21 $2,278.71
CIM 2019-INV1 A1 4.00000 02/25/2049 US 14,781.37 $14,764.16
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 117,260.19 $110,017.31
COTERRA ENERGY INC US CTRA 76 $2,609.08
CAMDEN PROPERTY TRUST US CPT 123 $17,649.27
CAMECO CORP CA CCJ 335 $8,197.45
CAMPBELL SOUP CO US CPB 47 $2,251.77
CANADIAN NATIONAL RAILWAY CO CA CNI 2,239 $254,753.42
CARETRUST REIT INC US CTRE 608 $11,266.24
CATERPILLAR INC US CAT 41 $8,849.85
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 980,000 $1,104,367.07
CHARTER COMMUNICATIONS INC-A US CHTR 595 $301,623.35
CHEVRON CORP US CVX 76 $13,274.16
CINCINNATI FINANCIAL CORP US CINF 22 $2,812.92
CISCO SYSTEMS INC US CSCO 259 $11,667.95
CITIGROUP INC US C 157 $8,385.37
CITIGROUP INC 1.46200 06/09/2027 US 620,000 $558,478.87
CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $703,792.11
COCA COLA CO/THE US KO 4,991 $316,329.58
COLGATE-PALMOLIVE CO US CL 77 $6,068.37
COMCAST CORP-CL A US CMCSA 273 $12,088.44
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 168,315.66 $164,335.76
COMMUNITY HEALTHCARE TRUST I US CHCT 317 $11,944.56
CONAGRA BRAND INC. US CAG 70 $2,302.30
CONOCOPHILLIPS US COP 69 $7,752.84
CONTROLADORA VUELA CIA DE AV MX VLRS 632 $9,846.56
COPART INC US CPRT 1,475 $168,931.75
COUSINS PROPERTIES INC US CUZ 751 $25,947.05
CAALT 2021-2A A 0.96000 02/15/2030 US 800,000 $770,070.19
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 480,000 $436,527.02
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 71,373.24 $65,062.85
CUMMINS INC US CMI 18 $3,764.16
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 410,000 $373,739.42
KIMBERLY CLARK DE MEXICO S.A.B. MX 14,900 $23,053.53
DEVON ENERGY CORPORATION US DVN 54 $4,044.60
DIAMONDBACK ENERGY INC US FANG 16 $2,432.32
DIGITAL REALTY TRUST INC US DLR 231 $32,245.29
DOLLAR GENERAL CORP US DG 830 $182,882.20
DOLLAR TREE STORES INC US DLTR 1,175 $188,387.75
DOW INC US DOW 58 $3,942.84
DUKE RLTY INVTS INC US DRE 524 $27,682.92
EOG RESOURCES INC US EOG 38 $5,204.48
EASTMAN CHEM CO US EMN 20 $2,203.20
EBAY INC US EBAY 52 $2,530.84
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 50,000 $47,380.48
ELECTRONIC ARTS US EA 1,407 $195,080.55
EMERSON ELEC CO US EMR 59 $5,230.94
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $899,333.68
EQUINIX INC US EQIX 383 $263,155.47
EQUITY LIFESTYLE PROPERTIES US ELS 463 $35,049.10
ESSEX PROPERTY TRUST INC US ESS 79 $22,424.15
EXPEDIA GROUP INC 3.25000 02/15/2030 US 430,000 $380,223.99
EXTRA SPACE STORAGE INC US EXR 115 $20,493.00
FMC CORP US FMC 3,289 $403,165.62
FREMF 2015-K42 B FLT 3.84863 01/25/2048 US 180,000 $177,693.29
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 130,000 $132,404.72
FREMF 2014-K41 B FLT 3.83302 11/25/2047 US 700,000 $692,876.00
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 9,824,184.18 $4,633.18
META PLATFORMS INC US FB 2,461 $476,548.04
FHLM POOL G05906 6.00000 04/01/2040 US 6,876.16 $7,597.99
FHLM POOL G06789 6.00000 05/01/2040 US 64,990.02 $72,089.61
FHLM POOL G13331 5.50000 10/01/2023 US 3,649.98 $3,710.38
FHLM POOL G13078 6.00000 03/01/2023 US 86.5 $86.82
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 140,423.78 $144,679.18
FHLM POOL FG G08734 4.00000 11/01/2046 US 15,912.82 $16,145.08
FHLM POOL C91746 4.50000 12/01/2033 US 18,116.65 $18,809.14
FHLM POOL Q93451 4.50000 08/01/2040 US 195,808.05 $204,544.92
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 748,546 $720,187.22
FHLM POOL SD8230 4.50000 06/01/2052 US 725,000 $738,821.48
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 109,977.01 $111,721.24
FNR 2018-31 KP 3.50000 07/25/2047 US 15,979.36 $16,074.65
FHMS K030 X1 FLT 0.14558 04/25/2023 US 26,612,953.74 $30,949.00
FHMS K032 X1 FLT 0.06799 05/25/2023 US 16,000,486.07 $13,716.58
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 100,125.84 $104,490.83
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 28,612.98 $29,860.37
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 37,967.5 $39,622.70
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 318,718.07 $348,448.77
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 279,897.88 $291,872.83
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,800.11 $5,372.29
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 140,015.56 $141,942.37
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 749,267.02 $741,979.08
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 728,714.17 $724,690.70
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 11.36 $11.36
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 3,266.62 $3,566.14
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,598.7 $1,715.96
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 13,682.17 $15,384.67
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 8,072.07 $8,827.50
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,200.01 $2,390.90
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 4,971.07 $5,456.79
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 497.36 $500.37
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 4,917.85 $4,937.04
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 3,181.91 $3,382.86
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 3,269.79 $3,476.29
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 6,356.82 $6,634.72
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 96,691.86 $100,345.84
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 85,606.81 $88,841.88
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 123,454.86 $127,085.40
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 68,159.85 $68,201.22
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 870,413.47 $818,739.44
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 752,625.66 $738,336.05
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 743,399.65 $744,364.03
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 740,000 $748,950.30
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 14,535.48 $16,050.82
FEDEX CORPORATION US FDX 645 $144,854.10
FIFTH THIRD BANCORP US FITB 85 $3,351.55
FLX 2021-1A A2 3.25000 11/27/2051 US 670,000 $620,798.28
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $452,918.26
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 56,019.71 $56,012.15
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 829,402.71 $770,813.87
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 312,117.51 $289,467.71
GSMBS 2021-INV1 A9 1.43446 12/25/2051 US 415,741.06 $393,424.41
GNMA POOL 660997 5.50000 05/15/2037 US 19,463.54 $20,713.83
GENERAL DYNAMICS CORP US GD 26 $5,847.66
GENERAL MLS INC US GIS 64 $4,470.40
GENUINE PARTS CO US GPC 20 $2,734.60
GETTY REALTY CORP US GTY 410 $11,455.40
GILEAD SCIENCES INC US GILD 113 $7,328.05
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 127,666.91 $124,337.61
GRAPHIC PACKAGING HOLDING CO US GPK 13,232 $294,544.32
GREENIDGE GEN HLD INC US 2,600 $51,792.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 66 $9,925.08
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 48 $10,429.92
AIRBUS SE FR AIR FP 150 $17,579.37
ADIDAS AG DE ADS GR 164 $32,581.49
HCA INC 4.12500 06/15/2029 US 560,000 $545,129.88
L'OREAL FR OR FP 18 $6,357.81
HAWAII ST 2.68200 10/01/2038 US 380,000 $300,915.63
HEALTHCARE REALTY TRUST INC US HR 525 $15,261.75
HEALTHCARE TRUST OF AMERICA US HTA 360 $10,818.00
HEINEKEN NV-SPN ADR NL HEINY 3,282 $165,544.08
HOME DEPOT INC US HD 57 $17,256.75
HONEYWELL INTERNATIONAL INC US HON 52 $10,068.24
IDEXX LABORATORIES INC US IDXX 338 $132,367.56
KERRY GROUP PLC-A IE KYGA ID 116 $12,004.87
ILLINOIS TOOL WKS INC US ITW 30 $6,242.10
IMPRL 2021-NQM3 1.59500 11/25/2056 US 379,993.76 $360,743.24
INDEPENDENCE REALTY TRUST IN US IRT 544 $12,789.44
INTEL CORP US INTC 287 $12,748.54
INTERCONTINENTALEXCHANGE INC US ICE 2,769 $283,517.91
INTERNATIONAL FLVRS & FRAGRANCES US IFF 30 $3,965.10
INVITATION HOMES INC US INVH 869 $32,778.68
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,000 $97,812.44
JP MORGAN CHASE & CO US JPM 149 $19,702.27
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 104,873.22 $101,497.58
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 920,000 $932,174.03
JOHNSON & JOHNSON US JNJ 3,393 $609,145.29
KREF 2021-FL2 A 1.95671 02/15/2039 US 400,000 $387,473.04
KEYCORP US KEY 94 $1,876.24
KROGER CO US KR 73 $3,866.81
L3HARRIS TECHNOLOGIES INC US LHX 740 $178,266.00
BEIERSDORF AG DE BEI GR 296 $30,722.24
LENNAR CORP US LEN 28 $2,247.00
LIFE STORAGE INC US LSI 202 $23,585.52
LOCKHEED MARTIN CORP US LMT 20 $8,802.20
LULULEMON - ADR CA LULU 656 $192,004.64
MAGALLANES INC 4.05400 03/15/2029 US 970,000 $929,880.64
ATOS SE FR ATO FP 905 $23,823.66
MARATHON PETROLEUM CORP US MPC 41 $4,173.39
MARRIOTT VACATIONS WORLD US VAC 86 $12,703.92
MASTERCARD INC-CLASS A US MA 1,496 $535,373.52
MCDONALDS CORP US MCD 34 $8,575.14
ACCOR SA FR AC FP 375 $12,339.28
MERCADOLIBRE INC AR MELI 20 $15,717.60
MERCK & CO INC US MRK 162 $14,908.86
MICROSOFT CORP US MSFT 2,140 $581,801.80
MICROCHIP TECHNOLOGY INC US MCHP 47 $3,414.55
MID-AMERICA APARTMENT COMM US MAA 163 $29,503.00
MONDELEZ INTERNATIONAL INC US MDLZ 5,674 $360,639.44
MOODY'S CORPORATION US MCO 994 $299,760.58
MOTOROLA SOLUTIONS INC US MSI 19 $4,175.06
NAVIENT CORP 6.75000 06/25/2025 US 125,000 $126,166.87
NETAPP INC US NTAP 33 $2,374.35
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 148,760.6 $146,120.68
NRZT 2015-2A A1 3.75000 08/25/2055 US 162,212.63 $158,031.15
NRZT 2016-4A A1 3.75000 11/25/2056 US 223,724.54 $218,638.77
KEYENCE CORP JP 6861 JP 100 $39,757.66
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $208,712.11
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 430,000 $390,861.65
NEWMONT GOLDCORP CORP US NEM 1,551 $105,235.35
NEXPOINT RESIDENTIAL US NXRT 155.9 $11,455.84
NORFOLK SOUTHN CORP US NSC 662 $158,654.92
NIKON CORP JP 7731 JP 2,400 $29,779.93
NORTHROP GRUMMAN CORP US NOC 399 $186,720.03
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $13.50
NOVARTIS AG- REG CH NVS 4,685 $426,053.90
NUCOR CORP US NUE 28 $3,708.88
OMNICOM GROUP US OMC 33 $2,462.13
SONY CORP FIRST SECTION JP 6758 JP 200 $18,757.89
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $353,855.19
OXFIN 2020-1A A2 3.10100 02/15/2028 US 239,254.75 $237,874.82
OXFIN 2019-1A A2 4.45900 02/15/2027 US 476,480.6 $475,349.53
OXFIN 2022-1A 3.60200 02/15/2030 US 575,000 $547,319.62
PPG INDUSTRIES INC US PPG 20 $2,529.80
PACKAGING CORP OF AMERICA US PKG 15 $2,359.20
PARKER HANNIFIN CORP US PH 11 $2,993.87
DEUTSCHE BOERSE AG DE DB1 GR 235 $39,494.84
PAYPAL HOLDINGS INC US PYPL 3,283 $279,744.43
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 755,512.75 $727,054.78
NESTLE SA-REGISTERED CH NESN SW 2,643 $323,284.44
PFIZER INC US PFE 235 $12,464.40
PIONEER NATURAL RESOURCES CO US PXD 17 $4,724.98
POPULAR INC 6.12500 09/14/2023 PR 125,000 $126,414.78
PROCTER & GAMBLE CO US PG 125 $18,485.00
PROLOGIS US PLD 802 $102,238.96
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 643,696.61 $565,419.19
PFMT 2021-2 A2A 2.00000 04/25/2051 US 414,860.36 $375,828.55
PUBLIC STORAGE INC US PSA 146 $48,273.44
QUALCOMM INC US QCOM 84 $12,030.48
QUALCOMM INC 4.25000 05/20/2032 US 730,000 $758,008.61
QUEST DIAGNOSTICS INC US DGX 19 $2,679.38
RCKT 2021-6 A1 2.50000 12/25/2051 US 409,030.87 $358,784.77
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,675 $39,857.50
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 170,000 $164,508.74
REGIONS FINANCIAL CORP. US RF 132 $2,915.88
REPUBLIC SERVICES INC US RSG 34 $4,550.56
RESTAURANT BRANDS INTERN CA QSR 250 $13,127.50
REXFORD INDUSTRIAL REALITY IN US REXR 495 $31,615.65
GETINGE AB-B SHS SE GETIB SS 718 $20,837.23
ROSS STORES INC US ROST 28 $2,380.56
HEINEKEN NV NL HEIA NA 196 $19,708.40
RYANAIR HOLDINGS - ADR IE RYAAY 1,886 $164,459.20
S&P GLOBAL INC US SPGI 322 $112,532.56
SBA COMMUNICATIONS CORP US SBAC 1,468 $494,143.48
NAVIENT CORP 5.50000 01/25/2023 US 50,000 $50,210.20
SLMA 2006-10 A6 FLT 1.33400 03/25/2044 US 104,367.76 $99,095.40
SMB 2015 B A3 2.62471 05/17/2032 US 660,807.98 $665,446.66
SMB 2020-BA A1A 1.29000 07/15/2053 US 396,198.97 $369,400.75
SOFI 2017-D A2FX 2.65000 09/25/2040 US 199,095.8 $197,113.12
SALESFORCE INC US CRM 1,685 $270,004.40
SEA LTD - ADR SG SE 2,107 $174,164.62
SEAGEN INC US SGEN 2,449 $332,280.32
SEMT 2013-6 A2 3.00000 05/25/2043 US 115,948.05 $108,584.75
SEMT 2013-7 A2 3.00000 06/25/2043 US 76,829.91 $71,990.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 88,599.5 $83,215.55
SEMT 2013-2 1.87400 02/25/2043 US 68,449.31 $61,991.73
SERVICENOW INC US NOW 636 $297,310.92
SHOPIFY INC CA SHOP 15 $5,626.80
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,230,000 $1,062,271.58
SKYWORKS SOLUTIONS INC US SWKS 18 $1,959.66
SMB 2019-B A2A 2.84000 06/15/2037 US 509,372.42 $494,097.72
JM SMUCKER CO/THE-NEW COM WI US SJM 16 $2,005.92
SOFI 2016-C A2B 2.36000 12/27/2032 US 14,024.89 $14,008.70
SOFI 2016-D A2B 2.34000 04/25/2033 US 15,455.69 $15,360.85
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 83,305.79 $82,737.69
SONY CORP SPONSORED ADR JP SONY 1,700 $159,919.00
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $266,558.68
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $730,698.26
STANLEY BLACK & DECKER INC US SWK 16 $1,899.04
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 886,341.61 $609,267.20
STEEL DYNAMICS INC US STLD 28 $2,390.64
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 287,025.3 $267,688.00
SUN COMMUNITIES US SUI 241 $39,555.33
SYNCHRONOSS TECH US 5,900 $130,862.00
SYNERGY ONE LENDING 5.50000 10/14/2026 US 135,000 $120,420.72
TJX COMPANIES INC US TJX 73 $4,640.61
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,837 $175,066.10
TARGET CORP US TGT 28 $4,532.64
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,503,122.43
TERRENO REALTY CORP US TRNO 277 $16,816.67
TEXAS INSTRUMENTS INC US TXN 49 $8,661.24
THERMO FISHER SCIENTIFIC INC US TMO 309 $175,379.13
3M CO US MMM 50 $7,464.50
TPMT 2016-5 A1 2.50000 10/25/2056 US 142,287.54 $141,666.26
TPMT 2017-1 A1 2.75000 10/25/2056 US 62,780.84 $62,533.70
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 107,472.08 $106,402.12
TRACTOR SUPPLY COMPANY US TSCO 11 $2,060.96
TRAVELLERS COS INC US TRV 26 $4,655.04
TCF 2021-1A 1.86000 03/20/2046 US 608,062.5 $533,522.39
TYSON FOODS INC -CL A US TSN 41 $3,674.01
UDR INC US UDR 597 $28,536.60
U.S. BANCORP US USB 130 $6,899.10
UNILEVER PLC - ADR GB UL 8,461 $408,920.13
UNION PAC CORP US UNP 46 $10,109.88
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 108,554.1 $97,711.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,309.55
UNITED PARCEL SERVICE US UPS 828 $150,903.00
US TREASURY N/B 2.50000 02/15/2045 US 1,095,000 $948,030.47
US TREASURY N/B 2.00000 02/15/2050 US 1,210,000 $954,576.56
US TREASURY N/B 1.62500 05/15/2026 US 7,755,000 $7,413,901.21
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 4,165,000 $4,149,869.35
US TREASURY N/B 2.50000 05/15/2024 US 8,445,000 $8,444,010.33
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 8,685,000 $8,538,440.63
VF CORP US VFC 39 $1,967.94
VENTAS INC US VTR 290 $16,454.60
VERTEX PHARMACEUTICALS INC US VRTX 1,238 $332,588.70
PARAMOUNT GLOBAL CLASS B US PARA 64 $2,197.12
VISA INC - CLASS A SHARES US V 2,510 $532,546.70
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 175,000 $171,778.68
VISTRA OPERATIONS 4.87500 05/13/2024 US 605,000 $607,298.06
WAL MART STORES US WMT 135 $17,365.05
WALGREENS BOOTS ALLIANCE INC US WBA 72 $3,155.76
WARRIOR MET COAL INC 7.87500 12/01/2028 US 45,000 $45,643.52
WASTE MANAGEMENT INC US WM 39 $6,181.89
WELLTOWER INC. US WELL 336 $29,934.24
WIN 2015-1 A1 3.50000 01/20/2045 US 49,758.14 $47,572.15
ZOETIS INC US ZTS 464 $79,311.52
BNY MELLON CASH RESERVE EOD FUND US 29.97 $29.97
ADMIRAL GROUP PLC GB ADM LN 836 $23,405.81
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,300 $9,367.95
UBISOFT ENTERTAINMENT FR UBI FP 478 $25,129.93
DANONE FR BN FP 233 $13,709.14
AIR LIQUIDE FR AI FP 251 $43,967.14
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $110,685.06
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $55,884.69
BRENNTAG AG DE BNR GR 417 $32,266.03
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $16,828.03
KEYWORDS STUDIOS PLC IE KWS LN 195 $5,761.80
S4 CAPITAL PLC GB SFOR LN 3,707 $13,258.39
HELIOS TOWERS PLC GB HTWS LN 7,212 $10,332.93
AVANZA BANK HOLDING AB SE AZA SS 835 $20,117.05
AMERICAN TANKER INC 7.75000 07/02/2025 US 135,000 $128,250.00
SOFTWAREONE HOLDING AG CH SWON SW 1,049 $14,010.16
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 851 $15,045.68
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $199,497.02
PETROTAL CORP 12.00000 02/16/2024 CA 124,000 $127,720.00
FINECOBANK SPA IT FBK IM 2,590 $36,701.82
ALLFUNDS GROUP PLC GB ALLFG NA 778 $7,096.53
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 46,000 $45,971.14
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 200,000 $200,332.66
KENT GLOBAL PLC 10.00000 06/28/2026 GB 50,000 $49,500.00
ROTORK PLC GB ROR LN 5,317 $18,712.70
AUTO TRADER GROUP PLC GB AUTO LN 4,645 $34,554.95
CELLNEX TELECOM SA ES CLNX SM 228 $10,289.45
ASSA ABLOY AB-B SE ASSAB SS 1,152 $28,398.05
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,941 $21,304.60
INTERMEDIATE CAPITAL GROUP GB ICP LN 884 $17,551.10
ADYEN NV NL ADYEN NA 19 $29,424.65
BANK OF N.T. BUTTERFIELD&SON BM NTB 387 $12,221.46
BUNGE LIMITED US BG 20 $2,366.40
EATON CORP PLC US ETN 41 $5,682.60
JOHNSON CONTROLS INTERNATIONAL US JCI 75 $4,088.25
MEDTRONIC INC IE MDT 2,309 $231,246.35
ROYALTY PHARMA PLC- CL A US RPRX 57 $2,344.98
STONECO LTD-A BR STNE 823 $8,262.92
TRANE TECHNOLOGIES IE TT 19 $2,623.14
ALCON INC CH ALC 2,825 $211,112.25
CHUBB LTD CH CB 36 $7,606.44
GARMIN LTD CH GRMN 27 $2,851.74
TE CONNECTIVITY LIMITED CH TEL 27 $3,493.53
LYONDELLBASELL INDU-CL A US LYB 28 $3,199.00
PLAYA HOTELS AND RESORTS US PLYA 1,186 $10,247.04
US DOLLAR US 3,173,554.52 $3,173,554.52
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 186,000 $185,830.03

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests 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 the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. 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.

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.


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