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 his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her 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
15-45% 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

$33.26

Daily $ Change

$0.01

Daily % Change

0.03%

as of 01/14/2021

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 12/31/2020

YTD

---

1 Year

10.54%

3 Year

6.91%

5 Year

6.74%

10 Year

5.22%

Inception
(01/01/2000)

5.87%

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 0.87%
Net 0.85%*

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

Top Ten Investments

As of 12/31/2020

TREASURY NOTES 15.47%
GOVERNMENT AGENCY 9.49%
TSY INFL IX N/B 0.12500 04/15/2025 2.17%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.11%
AMERICAN TOWER CORP 3.80000 08/15/2029 1.07%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.02%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.01%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.98%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.96%
JOHNSON & JOHNSON 0.95%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2020

Bonds 67.74%
Stocks 31.24%
Cash 1.02%

Detailed Asset Class Allocation

As of 12/31/2020

International Equities 6.33%
Small Capitalization 1.10%
Mid Capitalization 4.04%
Large Capitalization 19.77%
Long Term Fixed Income 17.80%
Intermediate Term Fixed Income 42.68%
Short Term Fixed Income 7.26%
Cash 1.02%

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

December Fund Holdings

As of 12/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 310,000 $362,617.29
00287Y109 ABBVIE INC US ABBV 2,815 $301,627.25
00507V109 ACTIVISION INC US ATVI 4,020 $373,257.00
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 35,000 $37,581.25
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 970,000 $1,080,460.82
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 35,000 $38,675.00
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 25,000 $26,194.75
008492100 AGREE REALTY CORP US ADC 748 $49,801.84
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 400,000 $428,676.82
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 300,000 $329,993.18
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 50,000 $54,312.61
01609W102 ALIBABA GROUP - ADR CN BABA 1,200 $279,276.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,120,000 $1,253,841.51
02079K305 ALPHABET INC-CL A US GOOGL 350 $613,424.00
023135106 AMAZON.COM INC US AMZN 210 $683,955.30
0237400 DIAGEO PLC GB DGE LN 3,720 $147,195.80
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 903 $38,621.31
025816109 AMERICAN EXPRESS CO US AXP 2,150 $259,956.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,305 $69,150.00
03027X100 AMERICAN TOWER REIT INC US AMT 1,340 $300,776.40
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 1,040,000 $1,209,143.14
03064D108 AMERICOLD REALTY TRUST US COLD 2,044 $76,302.52
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 50,000 $49,125.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 25,000 $24,005.00
03690EAA6 ANTERO MIDSTREAM PART/FI 7.87500 05/15/2026 US 10,000 $10,325.80
03750L109 APARTMENT INCOME REIT CO US AIRC 804 $30,881.64
03784Y200 APPLE HOSPITALITY REIT INC US APLE 3,135 $40,472.85
04364VAR4 ASCENT RESOURCES 8.25000 12/31/2028 US 20,000 $19,950.00
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $382,370.40
053015103 AUTOMATIC DATA PROCESSING US ADP 711 $125,278.20
053484101 AVALONBAY COMMUNITIES INC US AVB 235 $37,701.05
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 420,000 $428,533.66
055622104 BP PLC-SPONS ADR GB BP 4,135 $84,850.20
060505104 BANK OF AMERICA CORP US BAC 11,966 $362,689.46
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 490,000 $550,603.94
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 50,000 $51,527.00
084423102 WR BERKLEY CORP US WRB 4,060 $269,665.20
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,860 $431,278.20
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 3,495 $306,476.55
105368203 BRANDYWINE REALTY TRUST US BDN 2,045 $24,355.95
110122108 BRISTOL MYERS SQUIBB CO US BMY 3,975 $246,569.25
116ESCAD6 BRUIN E&P PARTNERS LLC 0.00000 08/01/2023 US 130,000 $13.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 35,000 $34,897.80
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,210 $112,675.20
12514G108 CDW CORP/DE US CDW 1,590 $209,546.10
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 357,892.06 $364,554.26
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 289,863.33 $293,564.33
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 81,272.29 $83,546.04
12572Q105 CME GROUP INC US CME 640 $116,512.00
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 251,484.1 $255,999.67
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 35,000 $35,612.50
127097103 CABOT OIL & GAS CORP US COG 26,610 $433,210.80
133131102 CAMDEN PROPERTY TRUST US CPT 487 $48,661.04
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 750,000 $832,919.27
13321L108 CAMECO CORP CA CCJ 17,490 $234,366.00
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 1,228 $134,895.80
14174T107 CARETRUST REIT INC US CTRE 985 $21,847.30
149123101 CATERPILLAR INC US CAT 1,252 $227,889.04
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 112,304.35 $112,781.42
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 630 $416,776.50
165183AL8 CFII 2017-2A A1 1.99000 05/15/2029 US 34,926.35 $34,956.90
17275R102 CISCO SYSTEMS INC US CSCO 6,931 $310,162.25
172967424 CITIGROUP INC US C 3,586 $221,112.76
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 650,000 $768,389.82
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $806,928.00
191216100 COCA COLA CO/THE US KO 7,985 $437,897.40
194162103 COLGATE-PALMOLIVE CO US CL 2,070 $177,005.70
20030N101 COMCAST CORP-CL A US CMCSA 5,311 $278,296.40
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 780,000 $885,601.01
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 333,760.85 $342,173.93
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 785 $36,981.35
20449X401 COMPASS GROUP PLC ADR GB CMPGY 11,290 $211,461.70
20605P101 CONCHO RESOURCES INC US CXO 5,100 $297,585.00
20825C104 CONOCOPHILLIPS US COP 5,450 $217,945.50
217204106 COPART INC US CPRT 1,830 $232,867.50
222795502 COUSINS PROPERTIES INC US CUZ 2,154 $72,159.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 440,000 $449,860.22
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 670,000 $677,435.79
22822V101 CROWN CASTLE INTL CORP US CCI 466 $74,182.54
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 820,000 $903,585.84
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 260,000 $291,012.55
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 164,809.94 $167,792.84
229663109 CUBESMART US CUBE 800 $26,888.00
25243Q205 DIAGEO PLC-SPONSORED ADR GB DEO 917 $145,628.77
253868103 DIGITAL REALTY TRUST INC US DLR 742 $103,516.42
256746108 DOLLAR TREE STORES INC US DLTR 1,910 $206,356.40
25746UDG1 DOMINION ENERGY 3.37500 04/01/2030 US 500,000 $569,547.44
25960P109 DOUGLAS EMMETT INC US DEI 1,165 $33,994.70
26439XAC7 DCP MIDSTREAM OPERATING 8.12500 08/16/2030 US 30,000 $38,325.00
264411505 DUKE RLTY INVTS INC US DRE 1,572 $62,832.84
26875P101 EOG RESOURCES INC US EOG 4,080 $203,469.60
26884L109 EQT CORP US EQT 14,465 $183,850.15
26884LAG4 EQT CORP 8.75000 02/01/2030 US 25,000 $30,625.00
285512109 ELECTRONIC ARTS US EA 1,690 $242,684.00
291011104 EMERSON ELEC CO US EMR 1,763 $141,692.31
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $1,049,187.75
29275YAC6 ENERSYS 4.37500 12/15/2027 US 5,000 $5,287.50
29444U700 EQUINIX INC US EQIX 812 $579,914.16
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,113 $70,519.68
297178105 ESSEX PROPERTY TRUST INC US ESS 120 $28,490.40
30212P303 EXPEDIA INC US EXPE 5,520 $730,848.00
30212PAS4 EXPEDIA GROUP INC 6.25000 05/01/2025 US 365,000 $423,071.72
30225T102 EXTRA SPACE STORAGE INC US EXR 175 $20,275.50
30231G102 EXXON MOBIL CORP US XOM 5,990 $246,907.80
302491303 FMC CORP US FMC 1,770 $203,426.10
30262DAL5 FREMF 2011-K13 B 4.63267 01/25/2048 US 410,000 $409,720.05
30262SAR9 FREMF 2015-K42 B FLT 3.85003 12/25/2024 US 180,000 $195,718.32
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 35,000 $33,381.25
30287EAE0 FREMF 2014-K41 B FLT 3.83296 11/25/2047 US 700,000 $768,305.65
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 10,378,125.46 $16,437.91
30303M102 FACEBOOK INC -A US FB 2,230 $609,146.80
3128M1AM1 FHLM POOL G11912 5.50000 03/01/2021 US 117.08 $117.20
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 113,462.6 $133,299.69
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 2,574.1 $3,023.50
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 8,900.71 $10,564.14
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 94,989.2 $112,384.26
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 28,844.67 $33,840.76
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 24,505.51 $25,373.22
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,061.46 $1,076.09
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 1,295.01 $1,332.34
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 307,529.22 $335,728.72
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 62,142.17 $73,077.52
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 30,516.83 $33,078.73
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 30,317.04 $33,521.41
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 310,397.6 $348,626.64
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 1,188,208.06 $1,253,638.22
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 96,877.08 $106,057.61
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 253,977.6 $272,263.75
3135G05Y5 FANNIE MAE 0.75000 10/08/2027 US 2,405,000 $2,414,352.90
3136AY6W8 FNA 2017-M15 A1 FLT 2.95934 09/25/2027 US 448,509.92 $485,952.11
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 135,847.3 $140,712.07
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 37,495.33 $43,985.71
31371MRU3 FEDERAL NATL MTG ASSN 256199 5.00000 04/01/2021 US 415.95 $436.15
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 4,280.97 $5,032.71
3137ADTK3 FHMS K014 X1 FLT 1.17813 04/25/2021 US 8,064,451.48 $9,417.67
3137AJMG6 FMHS K016 X1 FLT 1.48098 10/25/2021 US 2,218,256.34 $11,418.03
3137AUPF0 FHMS K021 x1 FLT 1.40440 06/25/2022 US 15,072,330.86 $222,624.36
3137B3NB0 FHMS K030 X1 FLT 0.16985 04/25/2023 US 28,656,832.02 $100,465.12
3137B4GZ3 FHMS K032 X1 FLT 0.08901 05/25/2023 US 16,853,048.95 $42,398.90
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 132,514.31 $134,090.22
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 63,166.83 $63,701.56
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 114,920.95 $124,597.69
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 29,872.84 $32,372.45
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 64,576.4 $72,475.48
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64100 01/01/2049 US 476,912.68 $559,043.82
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 406,848.31 $451,361.69
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 41,356.73 $48,605.80
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 7,177.4 $8,359.53
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 305,656.39 $330,120.17
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 58,213.16 $62,939.57
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 421.06 $424.37
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 656.96 $664.12
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 1,700.51 $1,706.97
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2,164.49 $2,176.21
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 12,297.75 $14,453.93
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 5,496.69 $6,158.33
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 26,111.83 $30,534.82
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,706.12 $1,919.37
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 15,878.82 $17,866.08
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 11,240.29 $13,227.31
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,401 $2,860.39
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 6,216.76 $7,136.73
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 2,851.9 $2,996.95
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 17,705.64 $18,606.16
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 4,412.82 $4,955.98
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 7,806.42 $8,821.92
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 4,825.46 $5,382.92
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 802.95 $807.99
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 10,515.14 $11,765.61
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 146,055.67 $161,454.55
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 157,055.56 $173,617.48
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 277,910.71 $303,655.17
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 148,956.72 $157,743.62
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,256,574.93 $1,327,070.51
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 1,275,838.13 $1,325,448.10
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 20,790.65 $24,770.59
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 65,060 $76,325.52
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 12,206.29 $14,349.75
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,122 $47,269.86
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $492,496.93
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 30,000 $36,780.30
345397XU2 FORD MOTOR CREDIT CO LLC 4.38900 01/08/2026 US 20,000 $20,993.60
346232AE1 FORESTAR GROUP INC 5.00000 03/01/2028 US 30,000 $30,975.00
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 25,000 $26,127.75
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 30,000 $34,387.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 25,000 $28,500.00
357081AE8 FREMF 2015-K720 B FLT 3.39339 07/25/2022 US 100,000 $103,338.45
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 25,000 $26,062.50
36257MAA3 GSMS 2019-70P A 1.15900 10/15/2036 US 340,000 $331,472.77
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 29,115.82 $32,573.21
369550108 GENERAL DYNAMICS CORP US GD 684 $101,792.88
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 780,000 $725,595.00
370334104 GENERAL MLS INC US GIS 1,815 $106,722.00
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 45,000 $48,712.50
374297109 GETTY REALTY CORP US GTY 1,115 $30,707.10
375558103 GILEAD SCIENCES INC US GILD 2,565 $149,436.90
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 335,976.78 $352,572.29
383909AF5 WR GRACE & CO-CONN 5.62500 10/01/2024 US 20,000 $21,575.00
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 26,090 $441,964.60
404119BX6 HCA INC 4.12500 06/15/2029 US 500,000 $580,040.80
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 25,000 $25,937.50
419792A22 HAWAII ST 2.68200 10/01/2030 US 380,000 $395,766.20
421946104 HEALTHCARE REALTY TRUST INC US HR 1,241 $36,733.60
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,570 $43,237.80
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 2,072 $62,636.56
423012301 HEINEKEN NV-SPN ADR NL HEINY 3,890 $217,217.60
427866108 HERSHEY CO/THE US HSY 635 $96,729.55
431571AB4 HILLENBRAND INC 5.00000 09/15/2026 US 20,000 $22,425.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 1,345 $149,644.70
437076102 HOME DEPOT INC US HD 1,518 $403,211.16
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 4,893 $138,227.25
438516106 HONEYWELL INTERNATIONAL INC US HON 1,403 $298,418.10
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 20,000 $23,400.00
443628AH5 HUDBAY MINERALS INC 6.12500 04/01/2029 CA 20,000 $21,550.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 25,000 $27,593.75
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 40,000 $40,600.00
45168D104 IDEXX LABORATORIES INC US IDXX 485 $242,436.95
452308109 ILLINOIS TOOL WKS INC US ITW 794 $161,880.72
45337C102 INCYTE CORP US INCY 1,610 $140,037.80
45569LAA9 INDIGO NATURAL RES LLC 6.87500 02/15/2026 US 30,000 $30,675.00
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 45,000 $45,506.25
45778Q107 INSPERITY INC US NSP 2,450 $199,479.00
458140100 INTEL CORP US INTC 5,751 $286,514.82
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 3,840 $442,713.60
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 1,767 $222,429.96
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 50,000 $54,375.00
46187BAA1 IHSFR 2017-SFR2 A 1.00300 12/17/2036 US 143,929.81 $143,578.74
46187BAB9 IHSFR 2017-SFR2 B 1.30300 12/17/2036 US 120,000 $119,709.49
46187W107 INVITATION HOMES INC US INVH 3,691 $109,622.70
46284VAN1 IRON MOUNTAIN INC 4.50000 02/15/2031 US 25,000 $26,187.50
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 200,000 $210,312.46
46625H100 JP MORGAN CHASE & CO US JPM 3,168 $402,557.76
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 20,209.69 $20,189.94
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 122,145.15 $123,883.95
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 138,386.66 $141,114.94
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 206,357.42 $211,054.90
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 870,000 $954,034.16
46647SAJ9 JPMMT 2017-3 1A5 3.50000 08/25/2047 US 48,128.14 $48,159.98
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 58,899.36 $59,071.84
478160104 JOHNSON & JOHNSON US JNJ 6,799 $1,070,026.62
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 170,000 $1,663.28
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 22,000 $24,915.00
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 45,000 $50,512.50
49427F108 KILROY REALTY CORP US KRC 942 $54,070.80
494368103 KIMBERLY CLARK CORP US KMB 892 $120,268.36
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 710,000 $971,499.84
50212YAC8 LPL HOLDINGS INC 4.62500 11/15/2027 US 25,000 $25,875.00
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 45,000 $44,887.50
512816109 LAMAR ADVERTISING CO-A US LAMR 371 $30,874.62
53223X107 LIFE STORAGE INC US LSI 367 $43,816.13
532457108 ELI LILLY & CO US LLY 1,233 $208,179.72
539830109 LOCKHEED MARTIN CORP US LMT 565 $200,563.70
541056AA5 LOGAN MERGER SUB INC 5.50000 09/01/2027 US 20,000 $20,950.00
54240F202 LONESTAR RES US INC NPV US 1,728 $3,144.96
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 35,000 $37,450.00
55303XAL9 MGM GROWTH/MGM FINANCE 3.87500 02/15/2029 US 25,000 $25,562.50
573284106 MARTIN MARIETTA MATERIALS US MLM 420 $119,267.40
57636Q104 MASTERCARD INC-CLASS A US MA 1,860 $663,908.40
577128AA9 MATTHEWS INTERNATIONAL C 5.25000 12/01/2025 US 35,000 $35,350.00
58933Y105 MERCK & CO INC US MRK 4,011 $328,099.80
594918104 MICROSOFT CORP US MSFT 2,040 $453,736.80
595112103 MICRON TECHNOLOGY INC US MU 5,800 $436,044.00
59522J103 MID-AMERICA APARTMENT COMM US MAA 660 $83,615.40
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 10,720 $626,798.40
615369105 MOODY'S CORPORATION US MCO 600 $174,144.00
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 35,000 $26,600.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 35,000 $24,784.38
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 35,000 $38,062.50
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 20,000 $21,400.00
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 42,900.18 $43,001.10
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 503,499.96 $508,434.26
63942FAB1 NAVSL 2020-1A A1B 1.19800 06/25/2069 US 684,199.06 $692,982.74
64033QAB5 NSLT 2015-2A A2 0.74800 09/25/2047 US 690,149.53 $678,430.03
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 45,000 $47,798.10
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 216,410.2 $231,854.75
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 249,311.66 $265,671.52
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 345,441.77 $368,076.81
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $221,495.15
654106AM5 NIKE INC 3.37500 03/27/2050 US 310,000 $383,514.06
655844108 NORFOLK SOUTHN CORP US NSC 940 $223,353.40
6642321 NIKON CORP JP 7731 JP 22,200 $140,256.91
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $911.25
66987V109 NOVARTIS AG- REG CH NVS 7,160 $676,118.80
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 35,000 $41,081.25
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 45,000 $40,218.75
68389X105 ORACLE CORP US ORCL 3,805 $246,145.45
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 30,000 $31,327.34
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $382,062.59
69121KAE4 OWL ROCK CAPITAL CORP 3.40000 07/15/2026 US 35,000 $35,501.15
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 300,000 $307,049.82
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 750,000 $775,968.15
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 25,000 $24,937.50
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 35,000 $37,625.00
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 30,000 $30,975.00
693475105 PNC FINANCIAL SERVICES GROUP US PNC 778 $115,922.00
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 30,000 $32,400.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 35,000 $38,762.50
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,960 $459,032.00
7123870 NESTLE SA-REGISTERED CH NESN SW 2,790 $329,809.57
713448108 PEPSICO INC US PEP 1,450 $215,035.00
717081103 PFIZER INC US PFE 8,742 $321,793.02
717081EW9 PFIZER INC 2.62500 04/01/2030 US 220,000 $245,552.66
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,790 $317,753.10
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 1,010,000 $1,147,920.78
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 35,000 $37,187.50
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 25,000 $27,375.00
74340W103 PROLOGIS US PLD 2,232 $222,441.12
74460D109 PUBLIC STORAGE INC US PSA 365 $84,289.45
747525103 QUALCOMM INC US QCOM 1,742 $265,376.28
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 50,000 $54,910.00
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 2,715 $194,149.65
756109104 REALTY INCOME CORP US O 385 $23,935.45
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 785 $38,551.35
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,420 $47,726.20
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,985 $218,310.30
78409V104 S&P GLOBAL INC US SPGI 420 $138,066.60
78410G104 SBA COMMUNICATIONS CORP US SBAC 960 $270,844.80
78442PGC4 SLM CORP 5.12500 04/05/2022 US 50,000 $51,125.00
78442PGD2 SLM CORP 4.20000 10/29/2025 US 45,000 $47,531.25
78443BAG1 SLMA 2006-10 A6 FLT 0.36475 03/25/2044 US 125,477.67 $122,265.24
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 638,272.41 $640,435.39
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 481,853.32 $496,442.92
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 910,000 $1,100,283.13
806857108 SCHLUMBERGER LTD NL SLB 4,570 $99,763.10
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 254,967.34 $259,030.14
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 154,370.67 $156,832.03
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 206,148.35 $209,444.17
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 164,808.66 $166,389.41
81762P102 SERVICENOW INC US NOW 390 $214,667.70
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 750,000 $791,960.63
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 117,597.11 $119,103.88
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 47,291.23 $48,197.01
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 219,282.93 $225,695.66
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 102,233.46 $103,262.72
835699307 SONY CORP SPONSORED ADR JP SNE 2,365 $239,101.50
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $296,875.90
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $810,712.62
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 25,000 $29,562.50
85254J102 STAG INDUSTRIAL INC US STAG 809 $25,337.88
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 40,000 $41,000.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.62863 11/15/2027 US 886,341.61 $584,985.46
857949BL0 SS INT BEARING FD .022% 01/02/15 US 1,164,177.19 $1,164,177.19
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 45,000 $46,687.50
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 293,310.58 $294,004.46
866674104 SUN COMMUNITIES US SUI 668 $101,502.60
87105L104 SWITCH INC - A US SWCH 3,597 $58,882.89
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 25,000 $20,375.00
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 25,000 $24,324.25
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 54,399.14 $54,520.77
87901JAE5 TEGNA INC 4.62500 03/15/2028 US 25,000 $25,562.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 780,000 $888,717.77
88146M101 TERRENO REALTY CORP US TRNO 565 $33,058.15
882508104 TEXAS INSTRUMENTS INC US TXN 1,820 $298,716.60
883556102 THERMO FISHER SCIENTIFIC INC US TMO 450 $209,601.00
88579Y101 3M CO US MMM 1,237 $216,215.23
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,447 $270,193.77
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 466,879.42 $475,955.88
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 207,062.66 $212,218.83
89177EAA7 TPMT 2019-HY1 A1 1.14800 10/25/2048 US 197,491.7 $198,259.25
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 495,872.47 $511,200.33
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 610,000 $616,499.18
89832Q109 TRUIST FINANCIAL CORP US TFC 3,416 $163,728.88
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 65,000 $63,700.00
902653104 UDR INC US UDR 1,254 $48,191.22
902973304 U.S. BANCORP US USB 3,654 $170,239.86
904767704 UNILEVER PLC - ADR GB UL 15,273 $921,878.28
907818108 UNION PAC CORP US UNP 1,370 $285,261.40
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 20,000 $21,850.00
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 4,525,000 $4,566,361.31
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 7,775,000 $8,379,688.50
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,230,000 $2,374,427.33
912828YN4 US TREASURY FRN FLT 0.39002 10/31/2021 US 2,082,000 $2,086,257.98
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 2,268,180 $2,439,947.39
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 150,000 $157,145.12
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 840,000 $1,138,359.61
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,170 $276,517.80
92556V106 VIATRIS INC US VTRS 1,131 $21,194.94
92826C839 VISA INC - CLASS A SHARES US V 2,990 $654,002.70
92826CAK8 VISA INC 2.70000 04/15/2040 US 830,000 $906,054.15
92837TAA0 AUSTIN BIDCO INC 7.12500 12/15/2028 US 5,000 $5,218.75
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 500,000 $549,677.53
929160109 VULCAN MATERIALS CO US VMC 1,530 $226,914.30
93065PAA9 WBHT 2019-WBM A FLT 1.20900 12/15/2033 US 390,000 $379,300.78
931142103 WAL MART STORES US WMT 2,823 $406,935.45
94106L109 WASTE MANAGEMENT INC US WM 1,131 $133,378.83
949746101 WELLS FARGO COMPANY US WFC 7,660 $231,178.80
95040Q104 WELLTOWER INC. US WELL 435 $28,109.70
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 40,000 $43,660.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 700,000 $798,725.61
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 151,398.5 $155,360.14
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 455 $27,045.20
98978V103 ZOETIS INC US ZTS 690 $114,195.00
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 400,000 $20,269.86
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $113,999.53
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $56,909.57
B63QM77 NEXON CO LTD JP 3659 JP 14,700 $453,567.13
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $20,664.77
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 14,315 $20,181.06
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,000 $70,143.50
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,570 $400,782.66
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,199 $17,697.24
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,685 $117,556.97
G1151C101 ACCENTURE PLC - CL A IE ACN 870 $227,252.70
G29183103 EATON CORP PLC US ETN 1,188 $142,726.32
G5494J103 LINDE PLC GB LIN 776 $204,483.76
G5960L103 MEDTRONIC INC IE MDT 4,565 $534,744.10
H01301128 ALCON INC CH ALC 8,350 $550,933.00
H1467J104 CHUBB LTD CH CB 997 $153,458.24
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $190,129.29

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 45 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

$33.26

Daily $ Change

$0.01

Daily % Change

0.03%

as of 01/14/2021

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 his or her current risk tolerance and investment time horizon, then decide when to move to a different objective as his or her 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
15-45% 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 12/31/2020

YTD

---

1 Year

10.54%

3 Year

6.91%

5 Year

6.74%

10 Year

5.22%

Inception
(01/01/2000)

5.87%

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 0.87%
Net 0.85%*

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

Top Ten Investments

As of 12/31/2020

TREASURY NOTES 15.47%
GOVERNMENT AGENCY 9.49%
TSY INFL IX N/B 0.12500 04/15/2025 2.17%
ALIBABA GROUP HOLDING 3.40000 12/06/2027 1.11%
AMERICAN TOWER CORP 3.80000 08/15/2029 1.07%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.02%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.01%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.98%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.96%
JOHNSON & JOHNSON 0.95%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2020

Bonds
67.74%
Stocks
31.24%
Cash
1.02%

Detailed Asset Class Allocation

As of 12/31/2020

International Equities
6.33%
Small Capitalization
1.10%
Mid Capitalization
4.04%
Large Capitalization
19.77%
Long Term Fixed Income
17.80%
Intermediate Term Fixed Income
42.68%
Short Term Fixed Income
7.26%
Cash
1.02%

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

December Fund Holdings

As of 12/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 310,000 $362,617.29
00287Y109 ABBVIE INC US ABBV 2,815 $301,627.25
00507V109 ACTIVISION INC US ATVI 4,020 $373,257.00
00653VAA9 ADAPTHEALTH LLC 6.12500 08/01/2028 US 35,000 $37,581.25
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 970,000 $1,080,460.82
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 35,000 $38,675.00
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 25,000 $26,194.75
008492100 AGREE REALTY CORP US ADC 748 $49,801.84
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 400,000 $428,676.82
00914AAB8 AIR LEASE CORP 3.75000 06/01/2026 US 300,000 $329,993.18
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 50,000 $54,312.61
01609W102 ALIBABA GROUP - ADR CN BABA 1,200 $279,276.00
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,120,000 $1,253,841.51
02079K305 ALPHABET INC-CL A US GOOGL 350 $613,424.00
023135106 AMAZON.COM INC US AMZN 210 $683,955.30
0237400 DIAGEO PLC GB DGE LN 3,720 $147,195.80
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 903 $38,621.31
025816109 AMERICAN EXPRESS CO US AXP 2,150 $259,956.50
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,305 $69,150.00
03027X100 AMERICAN TOWER REIT INC US AMT 1,340 $300,776.40
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 1,040,000 $1,209,143.14
03064D108 AMERICOLD REALTY TRUST US COLD 2,044 $76,302.52
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 50,000 $49,125.00
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 25,000 $24,005.00
03690EAA6 ANTERO MIDSTREAM PART/FI 7.87500 05/15/2026 US 10,000 $10,325.80
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63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 503,499.96 $508,434.26
63942FAB1 NAVSL 2020-1A A1B 1.19800 06/25/2069 US 684,199.06 $692,982.74
64033QAB5 NSLT 2015-2A A2 0.74800 09/25/2047 US 690,149.53 $678,430.03
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 45,000 $47,798.10
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 216,410.2 $231,854.75
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 249,311.66 $265,671.52
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 345,441.77 $368,076.81
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $221,495.15
654106AM5 NIKE INC 3.37500 03/27/2050 US 310,000 $383,514.06
655844108 NORFOLK SOUTHN CORP US NSC 940 $223,353.40
6642321 NIKON CORP JP 7731 JP 22,200 $140,256.91
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $911.25
66987V109 NOVARTIS AG- REG CH NVS 7,160 $676,118.80
674599EA9 OCCIDENTAL PETROLEUM COR 8.87500 07/15/2030 US 35,000 $41,081.25
675232AB8 OCEANEERING INTL INC 6.00000 02/01/2028 US 45,000 $40,218.75
68389X105 ORACLE CORP US ORCL 3,805 $246,145.45
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 30,000 $31,327.34
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $382,062.59
69121KAE4 OWL ROCK CAPITAL CORP 3.40000 07/15/2026 US 35,000 $35,501.15
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 300,000 $307,049.82
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 750,000 $775,968.15
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 25,000 $24,937.50
69306RAA4 P&L DEV LLC/PLD 7.75000 11/15/2025 US 35,000 $37,625.00
69327RAJ0 PDC ENERGY INC 5.75000 05/15/2026 US 30,000 $30,975.00
693475105 PNC FINANCIAL SERVICES GROUP US PNC 778 $115,922.00
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 30,000 $32,400.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 35,000 $38,762.50
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,960 $459,032.00
7123870 NESTLE SA-REGISTERED CH NESN SW 2,790 $329,809.57
713448108 PEPSICO INC US PEP 1,450 $215,035.00
717081103 PFIZER INC US PFE 8,742 $321,793.02
717081EW9 PFIZER INC 2.62500 04/01/2030 US 220,000 $245,552.66
723787107 PIONEER NATURAL RESOURCES CO US PXD 2,790 $317,753.10
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 1,010,000 $1,147,920.78
74165HAB4 PRIME HEALTHCARE SERVICE 7.25000 11/01/2025 US 35,000 $37,187.50
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 25,000 $27,375.00
74340W103 PROLOGIS US PLD 2,232 $222,441.12
74460D109 PUBLIC STORAGE INC US PSA 365 $84,289.45
747525103 QUALCOMM INC US QCOM 1,742 $265,376.28
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 50,000 $54,910.00
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 2,715 $194,149.65
756109104 REALTY INCOME CORP US O 385 $23,935.45
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 785 $38,551.35
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,420 $47,726.20
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 1,985 $218,310.30
78409V104 S&P GLOBAL INC US SPGI 420 $138,066.60
78410G104 SBA COMMUNICATIONS CORP US SBAC 960 $270,844.80
78442PGC4 SLM CORP 5.12500 04/05/2022 US 50,000 $51,125.00
78442PGD2 SLM CORP 4.20000 10/29/2025 US 45,000 $47,531.25
78443BAG1 SLMA 2006-10 A6 FLT 0.36475 03/25/2044 US 125,477.67 $122,265.24
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 638,272.41 $640,435.39
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 481,853.32 $496,442.92
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 910,000 $1,100,283.13
806857108 SCHLUMBERGER LTD NL SLB 4,570 $99,763.10
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 254,967.34 $259,030.14
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 154,370.67 $156,832.03
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 206,148.35 $209,444.17
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 164,808.66 $166,389.41
81762P102 SERVICENOW INC US NOW 390 $214,667.70
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 750,000 $791,960.63
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 117,597.11 $119,103.88
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 47,291.23 $48,197.01
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 219,282.93 $225,695.66
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 102,233.46 $103,262.72
835699307 SONY CORP SPONSORED ADR JP SNE 2,365 $239,101.50
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $296,875.90
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $810,712.62
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 25,000 $29,562.50
85254J102 STAG INDUSTRIAL INC US STAG 809 $25,337.88
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 40,000 $41,000.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.62863 11/15/2027 US 886,341.61 $584,985.46
857949BL0 SS INT BEARING FD .022% 01/02/15 US 1,164,177.19 $1,164,177.19
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 45,000 $46,687.50
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 293,310.58 $294,004.46
866674104 SUN COMMUNITIES US SUI 668 $101,502.60
87105L104 SWITCH INC - A US SWCH 3,597 $58,882.89
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 25,000 $20,375.00
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 25,000 $24,324.25
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 54,399.14 $54,520.77
87901JAE5 TEGNA INC 4.62500 03/15/2028 US 25,000 $25,562.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 780,000 $888,717.77
88146M101 TERRENO REALTY CORP US TRNO 565 $33,058.15
882508104 TEXAS INSTRUMENTS INC US TXN 1,820 $298,716.60
883556102 THERMO FISHER SCIENTIFIC INC US TMO 450 $209,601.00
88579Y101 3M CO US MMM 1,237 $216,215.23
89151E109 TOTAL S A SPONSORED ADR FR TOT 6,447 $270,193.77
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 466,879.42 $475,955.88
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 207,062.66 $212,218.83
89177EAA7 TPMT 2019-HY1 A1 1.14800 10/25/2048 US 197,491.7 $198,259.25
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 495,872.47 $511,200.33
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 610,000 $616,499.18
89832Q109 TRUIST FINANCIAL CORP US TFC 3,416 $163,728.88
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 65,000 $63,700.00
902653104 UDR INC US UDR 1,254 $48,191.22
902973304 U.S. BANCORP US USB 3,654 $170,239.86
904767704 UNILEVER PLC - ADR GB UL 15,273 $921,878.28
907818108 UNION PAC CORP US UNP 1,370 $285,261.40
909214BV9 UNISYS CORP 6.87500 11/01/2027 US 20,000 $21,850.00
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 4,525,000 $4,566,361.31
912828D56 US TREASURY N/B 2.37500 08/15/2024 US 7,775,000 $8,379,688.50
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,230,000 $2,374,427.33
912828YN4 US TREASURY FRN FLT 0.39002 10/31/2021 US 2,082,000 $2,086,257.98
912828ZJ2 TSY INFL IX N/B 0.12500 04/15/2025 US 2,268,180 $2,439,947.39
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 150,000 $157,145.12
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 840,000 $1,138,359.61
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 1,170 $276,517.80
92556V106 VIATRIS INC US VTRS 1,131 $21,194.94
92826C839 VISA INC - CLASS A SHARES US V 2,990 $654,002.70
92826CAK8 VISA INC 2.70000 04/15/2040 US 830,000 $906,054.15
92837TAA0 AUSTIN BIDCO INC 7.12500 12/15/2028 US 5,000 $5,218.75
928668BE1 VOLKSWAGEN GROUP AMERICA 3.35000 05/13/2025 US 500,000 $549,677.53
929160109 VULCAN MATERIALS CO US VMC 1,530 $226,914.30
93065PAA9 WBHT 2019-WBM A FLT 1.20900 12/15/2033 US 390,000 $379,300.78
931142103 WAL MART STORES US WMT 2,823 $406,935.45
94106L109 WASTE MANAGEMENT INC US WM 1,131 $133,378.83
949746101 WELLS FARGO COMPANY US WFC 7,660 $231,178.80
95040Q104 WELLTOWER INC. US WELL 435 $28,109.70
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 40,000 $43,660.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 700,000 $798,725.61
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 151,398.5 $155,360.14
98311A105 WYNDHAM HOTELS & RESORTS INC US WH 455 $27,045.20
98978V103 ZOETIS INC US ZTS 690 $114,195.00
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 400,000 $20,269.86
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $113,999.53
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $56,909.57
B63QM77 NEXON CO LTD JP 3659 JP 14,700 $453,567.13
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $20,664.77
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 14,315 $20,181.06
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,000 $70,143.50
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 5,570 $400,782.66
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,199 $17,697.24
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,685 $117,556.97
G1151C101 ACCENTURE PLC - CL A IE ACN 870 $227,252.70
G29183103 EATON CORP PLC US ETN 1,188 $142,726.32
G5494J103 LINDE PLC GB LIN 776 $204,483.76
G5960L103 MEDTRONIC INC IE MDT 4,565 $534,744.10
H01301128 ALCON INC CH ALC 8,350 $550,933.00
H1467J104 CHUBB LTD CH CB 997 $153,458.24
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $190,129.29

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 45 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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