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

$34.02

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/16/2021

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 03/31/2021

YTD

0.91%

1 Year

18.13%

3 Year

7.65%

5 Year

6.58%

10 Year

5.14%

Inception
(01/01/2000)

5.85%

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 03/31/2021

TREASURY NOTES 19.61%
GOVERNMENT AGENCY 8.74%
ISHARES BROAD USD INVESTMENT 1.64000 1.77%
TENCENT HOLDINGS 3.97500 04/11/2029 1.34%
VERIZON COMMUNICATIONS 4.27200 01/15/2036 1.07%
JOHNSON & JOHNSON 0.95%
AMERICAN TOWER CORP 3.80000 08/15/2029 0.90%
FACEBOOK INC -A 0.85%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.85%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.84%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2021

Bonds 64.38%
Stocks 32.78%
Cash 2.84%

Detailed Asset Class Allocation

As of 03/31/2021

International Equities 6.55%
Small Capitalization 0.92%
Mid Capitalization 2.91%
Large Capitalization 22.40%
Long Term Fixed Income 17.35%
Intermediate Term Fixed Income 41.43%
Short Term Fixed Income 5.60%
Cash 2.84%

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

March Fund Holdings

As of 03/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 310,000 $348,207.79
00287Y109 ABBVIE INC US ABBV 3,111 $336,672.42
00507V109 ACTIVISION INC US ATVI 2,639 $245,427.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 970,000 $1,053,396.94
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 25,000 $27,978.25
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 25,000 $26,343.75
008474108 AGNICO EAGLE MINES LTD CA AEM 3,435 $198,577.35
008492100 AGREE REALTY CORP US ADC 692 $46,578.52
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $441,612.42
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 49,467.44 $54,928.89
01609W102 ALIBABA GROUP - ADR CN BABA 1,551 $351,658.23
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 425,000 $456,914.44
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 425,000 $384,800.50
02079K305 ALPHABET INC-CL A US GOOGL 366 $754,882.32
023135106 AMAZON.COM INC US AMZN 296 $915,847.68
0237400 DIAGEO PLC GB DGE LN 4,288 $176,157.55
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 864 $37,298.88
025816109 AMERICAN EXPRESS CO US AXP 1,654 $233,941.76
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,519 $83,983.46
03027X100 AMERICAN TOWER REIT INC US AMT 1,707 $408,075.42
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 1,040,000 $1,131,596.80
03064D108 AMERICOLD REALTY TRUST US COLD 2,243 $86,288.21
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 25,000 $24,968.75
03750L109 APARTMENT INCOME REIT CO US AIRC 445 $19,028.20
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,510 $36,570.70
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $376,070.40
053015103 AUTOMATIC DATA PROCESSING US ADP 866 $163,215.02
053484101 AVALONBAY COMMUNITIES INC US AVB 322 $59,412.22
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 420,000 $438,876.13
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 420,000 $416,345.90
055622104 BP PLC-SPONS ADR GB BP 4,135 $100,687.25
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $435,407.04
060505104 BANK OF AMERICA CORP US BAC 11,966 $462,964.54
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 490,000 $535,359.52
067901108 BARRICK GOLD CORP CA GOLD 10,280 $203,544.00
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 40,000 $40,768.00
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 25,000 $25,125.00
084423102 WR BERKLEY CORP US WRB 3,999 $301,324.65
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,095 $535,209.65
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,698 $430,255.98
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 440,000 $436,954.30
105368203 BRANDYWINE REALTY TRUST US BDN 2,938 $37,929.58
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,343 $274,173.59
12345678 JONAH ENERGY PARENT LLC US 2,051 $30,765.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 35,000 $34,037.50
12514G108 CDW CORP/DE US CDW 1,560 $258,570.00
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 357,892.06 $360,486.38
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 289,139.28 $286,526.82
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 61,166.38 $62,276.71
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 40,000 $41,911.60
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 210,101.69 $211,770.67
12654TAA8 CNX MIDSTREAM PTR/CNX 6.50000 03/15/2026 US 45,000 $45,787.50
127097103 CABOT OIL & GAS CORP US COG 29,212 $548,601.36
133131102 CAMDEN PROPERTY TRUST US CPT 463 $50,888.33
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 750,000 $768,827.28
13321L108 CAMECO CORP CA CCJ 14,240 $236,526.40
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 1,350 $156,573.00
14174T107 CARETRUST REIT INC US CTRE 1,098 $25,566.93
149123101 CATERPILLAR INC US CAT 1,315 $304,909.05
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 87,129.15 $87,542.08
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 20,000 $22,417.00
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 599 $369,594.98
17275R102 CISCO SYSTEMS INC US CSCO 7,783 $402,458.93
172967424 CITIGROUP INC US C 3,586 $260,881.50
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 650,000 $732,000.49
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $768,728.00
191216100 COCA COLA CO/THE US KO 8,088 $426,318.48
194162103 COLGATE-PALMOLIVE CO US CL 2,444 $192,660.52
20030N101 COMCAST CORP-CL A US CMCSA 6,287 $340,189.57
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 780,000 $801,831.78
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 287,583.03 $295,031.43
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,078 $49,717.36
20825C104 CONOCOPHILLIPS US COP 6,785 $359,401.45
217204106 COPART INC US CPRT 2,049 $222,541.89
222795502 COUSINS PROPERTIES INC US CUZ 2,259 $79,855.65
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 40,000 $42,100.00
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 440,000 $447,428.12
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 670,000 $676,186.71
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 800,000 $799,014.64
22822V101 CROWN CASTLE INTL CORP US CCI 128 $22,032.64
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 820,000 $844,332.18
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 260,000 $271,452.09
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 130,855.62 $132,447.44
23311VAG2 DCP MIDSTREAM 5.37500 07/15/2025 US 25,000 $27,090.63
25243Q205 DIAGEO PLC-SPONSORED ADR GB DEO 1,038 $170,449.98
253868103 DIGITAL REALTY TRUST INC US DLR 677 $95,348.68
256677105 DOLLAR GENERAL CORP US DG 1,252 $253,680.24
256746108 DOLLAR TREE STORES INC US DLTR 2,164 $247,691.44
25960P109 DOUGLAS EMMETT INC US DEI 1,244 $39,061.60
264411505 DUKE RLTY INVTS INC US DRE 1,684 $70,610.12
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 30,000 $30,046.20
26875P101 EOG RESOURCES INC US EOG 3,507 $254,362.71
26884L109 EQT CORP US EQT 14,465 $268,759.70
285512109 ELECTRONIC ARTS US EA 1,789 $242,176.93
291011104 EMERSON ELEC CO US EMR 1,977 $178,364.94
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $1,022,846.53
29275YAC6 ENERSYS 4.37500 12/15/2027 US 25,000 $25,562.50
29444U700 EQUINIX INC US EQIX 762 $517,847.58
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,240 $78,913.60
297178105 ESSEX PROPERTY TRUST INC US ESS 170 $46,212.80
30212P303 EXPEDIA INC US EXPE 3,577 $615,673.24
30212PBB0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 400,000 $445,308.88
30225T102 EXTRA SPACE STORAGE INC US EXR 325 $43,078.75
30231G102 EXXON MOBIL CORP US XOM 4,792 $267,537.36
302491303 FMC CORP US FMC 3,177 $351,407.97
30262SAR9 FREMF 2015-K42 B FLT 3.85081 12/25/2024 US 180,000 $193,416.86
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 35,000 $35,175.00
30287EAE0 FREMF 2014-K41 B FLT 3.83364 11/25/2047 US 700,000 $759,950.17
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 10,306,025.91 $13,985.28
30303M102 FACEBOOK INC -A US FB 3,631 $1,069,438.43
303250104 FAIR ISAAC CORP US FICO 610 $296,490.50
3128M6HZ4 FHLM POOL G04448 5.50000 07/01/2038 US 106,740.23 $125,534.06
3128M6SU3 FHLM POOL G04731 5.50000 04/01/2038 US 2,420.41 $2,846.27
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 8,468.33 $10,116.24
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 90,930.76 $108,402.88
3128M9ZU9 FHLM POOL G07655 5.50000 12/01/2035 US 27,141.73 $31,770.68
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 19,533.72 $20,167.28
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 671.77 $679.11
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 975.32 $999.95
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 264,389.17 $289,926.31
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 55,433.32 $64,873.38
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 26,807.55 $29,167.72
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 27,854.9 $30,786.42
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 283,890.8 $320,227.64
3132D56Z0 FEDERAL NATL MTG ASSN FR SB8088 1.50000 02/01/2036 US 1,130,620.98 $1,136,113.46
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 1,152,457.73 $1,182,886.83
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 88,327.9 $97,299.14
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 218,099.55 $234,990.91
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 1,300,000 $1,316,354.92
3133KYUZ0 FHLM POOL RB5100 2.00000 02/01/2041 US 843,136.32 $853,743.30
3136AY6W8 FNA 2017-M15 A1 FLT 2.95954 09/25/2027 US 438,584.53 $471,051.28
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 101,674.1 $105,289.78
31371MLB1 FEDERAL NATL MTG ASSN 256022 5.50000 12/01/2035 US 32,743.43 $38,066.78
31371NDQ5 FEDERAL NATL MTG ASSN 256711 5.50000 05/01/2037 US 4,022.57 $4,718.47
3137ADTK3 FHMS K014 X1 FLT 1.46248 04/25/2021 US 559,444.12 $5.59
3137AJMG6 FMHS K016 X1 FLT 1.48185 10/25/2021 US 2,204,253.68 $3,479.41
3137AUPF0 FHMS K021 x1 FLT 1.39972 06/25/2022 US 14,962,834.17 $167,811.18
3137B3NB0 FHMS K030 X1 FLT 0.16646 04/25/2023 US 28,405,286 $86,266.85
3137B4GZ3 FHMS K032 X1 FLT 0.08767 05/25/2023 US 16,722,671.34 $37,743.07
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 74,043.96 $74,542.77
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 15,417.45 $15,450.46
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 111,906.99 $121,886.59
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 29,656.62 $32,274.24
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 58,411.58 $65,578.58
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64200 01/01/2049 US 455,022.41 $521,698.56
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 404,254.79 $450,189.72
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 38,561.89 $45,138.29
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 6,812 $7,873.73
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 273,325.39 $296,854.80
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 52,635.36 $57,114.17
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 173.99 $174.77
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 340.86 $342.93
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 280.06 $280.35
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 658.45 $660.90
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 11,613.44 $13,654.13
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 3,398.31 $3,814.36
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 22,760.6 $26,437.76
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,687.92 $1,899.77
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 15,739.75 $18,247.93
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 8,439.85 $9,796.29
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,367.31 $2,809.53
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 6,139 $7,058.21
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 1,986.99 $2,084.28
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 15,484.44 $16,240.67
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 4,352.34 $4,885.56
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 7,738.93 $8,811.40
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 3,461.82 $3,835.22
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 245.29 $246.39
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 9,445.55 $10,591.89
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 128,017.69 $141,450.01
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 144,632.68 $159,812.23
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 241,302.7 $264,543.66
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 121,625.68 $128,698.52
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,236,207.58 $1,277,529.23
31418DU67 FEDERAL NATL MTG ASSN FN MA4204 2.00000 12/01/2040 US 1,255,447.78 $1,271,205.65
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 19,508.71 $23,315.52
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 60,256.58 $70,844.49
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 11,530.89 $13,556.75
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,100 $50,369.00
343412AC6 FLUOR CORP 3.50000 12/15/2024 US 45,000 $46,321.83
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $494,214.49
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 50,000 $60,555.75
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 30,000 $34,162.50
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 30,000 $34,275.00
357081AE8 FREMF 2015-K720 B FLT 3.39439 07/25/2022 US 100,000 $103,100.93
36257MAA3 GSMS 2019-70P A 1.10600 10/15/2036 US 340,000 $339,587.38
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 28,852.83 $32,273.91
369550108 GENERAL DYNAMICS CORP US GD 792 $143,795.52
369604BQ5 GENERAL ELECTRIC CO 3.51388 01/21/2099 US 780,000 $735,930.00
370334104 GENERAL MLS INC US GIS 2,265 $138,889.80
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 65,000 $70,240.63
374297109 GETTY REALTY CORP US GTY 1,297 $36,731.04
375558103 GILEAD SCIENCES INC US GILD 2,932 $189,495.16
38138JAC7 GLM 2021-9A A FLT 1.19475 01/20/2033 KY 1,000,000 $1,000,314.00
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 324,080.79 $334,825.72
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 27,224 $494,387.84
404119BX6 HCA INC 4.12500 06/15/2029 US 500,000 $553,755.17
418751AD5 HAT HOLDINGS I LLC/HAT 3.75000 09/15/2030 US 25,000 $24,062.50
419792A22 HAWAII ST 2.68200 10/01/2038 US 380,000 $379,065.20
421946104 HEALTHCARE REALTY TRUST INC US HR 895 $27,136.40
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,780 $49,092.40
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 2,311 $73,351.14
423012301 HEINEKEN NV-SPN ADR NL HEINY 4,522 $233,335.20
427866108 HERSHEY CO/THE US HSY 732 $115,773.12
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 303 $36,638.76
437076102 HOME DEPOT INC US HD 1,648 $503,052.00
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 5,943 $179,478.60
438516106 HONEYWELL INTERNATIONAL INC US HON 1,654 $359,033.78
443201AA6 HOWMET AEROSPACE INC 6.87500 05/01/2025 US 20,000 $23,175.00
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 25,000 $27,512.25
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 50,000 $50,640.00
45168D104 IDEXX LABORATORIES INC US IDXX 485 $237,315.35
452308109 ILLINOIS TOOL WKS INC US ITW 904 $200,254.08
45337C102 INCYTE CORP US INCY 1,692 $137,508.84
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 45,000 $45,000.00
45778Q107 INSPERITY INC US NSP 2,899 $242,762.26
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 75 $13,512.00
458140100 INTEL CORP US INTC 5,751 $368,064.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 4,148 $463,248.64
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 2,017 $268,785.42
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 40,000 $42,250.00
46187BAA1 IHSFR 2017-SFR2 A 0.95800 12/17/2036 US 143,345.91 $143,502.76
46187BAB9 IHSFR 2017-SFR2 B 1.25800 12/17/2036 US 120,000 $120,225.62
46187W107 INVITATION HOMES INC US INVH 3,952 $126,424.48
464288620 ISHARES BROAD USD INVESTMENT 1.64000 US 37,706 $2,226,162.24
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,000 $104,346.05
46625H100 JP MORGAN CHASE & CO US JPM 3,168 $482,264.64
46635GAE0 JP MORGAN CHASE COMMERCIAL MORTG 4.06980 11/15/2043 US 12,302.16 $12,332.92
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 98,361.91 $99,651.45
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 97,671.06 $99,401.05
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 184,403.8 $188,530.74
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 870,000 $884,835.58
46649HAE2 JPMMT 2017-6 A5 3.50000 12/25/2048 US 17,080.34 $17,091.83
478160104 JOHNSON & JOHNSON US JNJ 7,310 $1,201,398.50
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 22,000 $24,640.00
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 41,000 $45,612.50
49427F108 KILROY REALTY CORP US KRC 904 $59,329.52
494368103 KIMBERLY CLARK CORP US KMB 1,063 $147,810.15
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 710,000 $950,755.77
505742AG1 LADDER CAP FIN LLLP/CORP 5.25000 10/01/2025 US 40,000 $40,000.00
512816109 LAMAR ADVERTISING CO-A US LAMR 353 $33,153.76
53223X107 LIFE STORAGE INC US LSI 531 $45,639.45
532457108 ELI LILLY & CO US LLY 1,233 $230,349.06
539830109 LOCKHEED MARTIN CORP US LMT 682 $251,999.00
54240F202 LONESTAR RES US INC NPV US LONE 1,728 $9,676.80
550021109 LULULEMON - ADR CA LULU 835 $256,102.85
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 35,000 $36,443.75
573284106 MARTIN MARIETTA MATERIALS US MLM 420 $141,044.40
57636Q104 MASTERCARD INC-CLASS A US MA 2,115 $753,045.75
58933Y105 MERCK & CO INC US MRK 4,665 $359,624.85
594918104 MICROSOFT CORP US MSFT 3,010 $709,667.70
595112103 MICRON TECHNOLOGY INC US MU 3,046 $268,687.66
59522J103 MID-AMERICA APARTMENT COMM US MAA 669 $96,576.84
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 12,270 $718,163.10
615369105 MOODY'S CORPORATION US MCO 713 $212,908.93
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 35,000 $28,182.00
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 35,000 $33,775.00
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 55,000 $59,743.75
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 20,000 $22,050.00
63941XAA5 NAVSL 2020-FA A 1.22000 07/15/2069 US 426,362.26 $428,053.47
63942FAB1 NAVSL 2020-1A A1B 1.15863 06/25/2069 US 668,655.03 $682,591.07
64033QAB5 NSLT 2015-2A A2 0.70863 09/25/2047 US 673,779.38 $671,125.30
64134JAA1 NEUB 2021-40A A 1.24788 04/16/2033 KY 700,000 $700,293.30
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 40,000 $41,096.00
644393AB6 NEW FORTRESS ENERGY INC 6.50000 09/30/2026 US 25,000 $25,162.50
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 205,409.01 $218,778.43
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 230,939.67 $244,840.30
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 323,643.34 $344,458.20
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $221,589.75
651639106 NEWMONT GOLDCORP CORP US NEM 3,872 $233,365.44
655844108 NORFOLK SOUTHN CORP US NSC 940 $252,408.80
6642321 NIKON CORP JP 7731 JP 16,800 $157,842.45
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $13.50
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 40,000 $41,700.00
66987V109 NOVARTIS AG- REG CH NVS 5,158 $440,905.84
67066G104 NVIDIA CORP US NVDA 482 $257,354.26
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 45,000 $46,237.50
68389X105 ORACLE CORP US ORCL 4,199 $294,643.83
691205AC2 OWL ROCK TECHNOLOGY FINA 4.75000 12/15/2025 US 30,000 $32,072.42
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $388,434.12
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 300,000 $309,831.00
69145AAB4 OXFIN 2019-1A A2 4.45900 02/15/2027 US 750,000 $776,706.60
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 25,000 $25,370.00
693475105 PNC FINANCIAL SERVICES GROUP US PNC 794 $139,275.54
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 30,000 $32,100.00
69356MAA4 PM GENERAL PURCHASER LLC 9.50000 10/01/2028 US 30,000 $32,025.00
70450Y103 PAYPAL HOLDINGS INC US PYPL 1,960 $475,966.40
7123870 NESTLE SA-REGISTERED CH NESN SW 3,242 $361,406.46
717081103 PFIZER INC US PFE 11,520 $417,369.60
723787107 PIONEER NATURAL RESOURCES CO US PXD 1,622 $257,606.04
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 50,000 $53,961.25
74340W103 PROLOGIS US PLD 2,323 $246,238.00
74460D109 PUBLIC STORAGE INC US PSA 470 $115,977.20
747525103 QUALCOMM INC US QCOM 2,006 $265,975.54
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 40,000 $41,950.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 737 $10,833.90
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 3,285 $253,831.95
75606DAL5 REALOGY GROUP/CO-ISSUER 5.75000 01/15/2029 US 30,000 $29,587.50
756109104 REALTY INCOME CORP US O 321 $20,383.50
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 854 $43,041.60
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,420 $52,298.60
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 2,261 $260,015.00
78409V104 S&P GLOBAL INC US SPGI 545 $192,314.15
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,483 $689,156.65
78442PGC4 SLM CORP 5.12500 04/05/2022 US 50,000 $51,125.00
78442PGD2 SLM CORP 4.20000 10/29/2025 US 30,000 $31,500.60
78443BAG1 SLMA 2006-10 A6 FLT 0.36775 03/25/2044 US 122,257.51 $119,044.20
78448QAD0 SMB 2015 B A3 1.85600 05/17/2032 US 800,000 $811,526.56
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 592,514.74 $593,621.74
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 415,697.83 $425,050.86
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 910,000 $1,065,601.62
81141R100 SEA LTD - ADR SG SE 2,115 $472,131.45
81181C104 SEAGEN INC US SGEN 3,104 $431,021.44
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 208,888.52 $210,533.52
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 127,484.39 $128,716.58
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 160,996.88 $162,641.82
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 134,766.96 $135,230.57
81762P102 SERVICENOW INC US NOW 471 $235,551.81
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 732,624.33 $762,380.23
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 90,307.36 $91,323.88
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 40,861.03 $41,617.95
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 184,621.25 $190,983.89
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 62,431.46 $62,883.49
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 45,000 $46,012.50
835699307 SONY CORP SPONSORED ADR JP SONY 2,365 $250,713.65
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $298,027.20
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $796,191.55
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 25,000 $28,833.75
85254J102 STAG INDUSTRIAL INC US STAG 914 $30,719.54
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 55,000 $57,105.40
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57600 11/15/2027 US 886,341.61 $651,461.08
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 45,000 $46,800.00
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 291,766.87 $296,701.67
866674104 SUN COMMUNITIES US SUI 785 $117,781.40
87105L104 SWITCH INC - A US SWCH 4,555 $74,064.30
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 25,000 $20,078.13
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 45,000 $43,974.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 35,727.87 $35,805.00
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 45,000 $45,787.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,693,645.20
88146M101 TERRENO REALTY CORP US TRNO 659 $38,070.43
882508104 TEXAS INSTRUMENTS INC US TXN 2,030 $383,649.70
883556102 THERMO FISHER SCIENTIFIC INC US TMO 488 $222,713.44
88579Y101 3M CO US MMM 1,471 $283,432.28
89151E109 TOTAL S A SPONSORED ADR FR TOT 7,250 $337,415.00
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 425,632.03 $433,785.56
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 177,262.58 $180,284.57
89177EAA7 TPMT 2019-HY1 A1 1.10863 10/25/2048 US 178,136.6 $179,466.64
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 494,668.45 $506,335.21
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 609,447.53 $599,428.64
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 675,000 $658,397.16
89832Q109 TRUIST FINANCIAL CORP US TFC 3,591 $209,427.12
902653104 UDR INC US UDR 1,394 $61,140.84
902973304 U.S. BANCORP US USB 3,796 $209,956.76
904767704 UNILEVER PLC - ADR GB UL 17,776 $992,434.08
907818108 UNION PAC CORP US UNP 1,494 $329,292.54
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 23,899.66 $23,253.33
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 27,152.92 $27,460.29
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 6,445,000 $6,465,007.99
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 6,285,000 $6,488,280.47
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 6,090,000 $6,489,180.50
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 4,990,000 $5,280,238.66
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 150,000 $156,974.70
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 1,200,000 $1,354,988.58
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,898 $622,751.22
92556V106 VIATRIS INC US VTRS 1,223 $17,085.31
92826C839 VISA INC - CLASS A SHARES US V 3,499 $740,843.27
929160109 VULCAN MATERIALS CO US VMC 1,530 $258,187.50
93065PAA9 WBHT 2019-WBM A FLT 1.15600 12/15/2033 US 390,000 $389,527.55
931142103 WAL MART STORES US WMT 3,263 $443,213.29
93114W107 WALMART DE MEXICO MX WMMVY 7,629 $241,228.98
94106L109 WASTE MANAGEMENT INC US WM 1,309 $168,887.18
949746101 WELLS FARGO COMPANY US WFC 7,660 $299,276.20
95040Q104 WELLTOWER INC. US WELL 484 $34,668.92
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 40,000 $44,200.00
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 900,000 $876,956.66
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 114,772.96 $117,477.37
98978V103 ZOETIS INC US ZTS 748 $117,795.04
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 400,000 $19,631.79
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $114,761.68
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $54,879.72
B63QM77 NEXON CO LTD JP 3659 JP 15,500 $502,944.66
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $18,244.80
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 16,219 $20,998.10
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,000 $71,385.68
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 4,070 $324,816.75
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,256 $19,091.20
G1151C101 ACCENTURE PLC - CL A IE ACN 964 $266,305.00
G29183103 EATON CORP PLC US ETN 1,275 $176,307.00
G5494J103 LINDE PLC GB LIN 829 $232,236.06
G5960L103 MEDTRONIC INC IE MDT 4,749 $560,999.37
H01301128 ALCON INC CH ALC 8,238 $578,142.84
H1467J104 CHUBB LTD CH CB 1,114 $175,978.58
USD US DOLLAR US 3,689,990.21 $3,689,990.21
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,000.00

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

$34.02

Daily $ Change

$0.00

Daily % Change

0.00%

as of 04/16/2021

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 03/31/2021

YTD

0.91%

1 Year

18.13%

3 Year

7.65%

5 Year

6.58%

10 Year

5.14%

Inception
(01/01/2000)

5.85%

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 03/31/2021

TREASURY NOTES 19.61%
GOVERNMENT AGENCY 8.74%
ISHARES BROAD USD INVESTMENT 1.64000 1.77%
TENCENT HOLDINGS 3.97500 04/11/2029 1.34%
VERIZON COMMUNICATIONS 4.27200 01/15/2036 1.07%
JOHNSON & JOHNSON 0.95%
AMERICAN TOWER CORP 3.80000 08/15/2029 0.90%
FACEBOOK INC -A 0.85%
SABINE PASS LIQUEFACTION 5.87500 06/30/2026 0.85%
AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 0.84%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2021

Bonds
64.38%
Stocks
32.78%
Cash
2.84%

Detailed Asset Class Allocation

As of 03/31/2021

International Equities
6.55%
Small Capitalization
0.92%
Mid Capitalization
2.91%
Large Capitalization
22.40%
Long Term Fixed Income
17.35%
Intermediate Term Fixed Income
41.43%
Short Term Fixed Income
5.60%
Cash
2.84%

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

March Fund Holdings

As of 03/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 310,000 $348,207.79
00287Y109 ABBVIE INC US ABBV 3,111 $336,672.42
00507V109 ACTIVISION INC US ATVI 2,639 $245,427.00
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 970,000 $1,053,396.94
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 25,000 $27,978.25
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 25,000 $26,343.75
008474108 AGNICO EAGLE MINES LTD CA AEM 3,435 $198,577.35
008492100 AGREE REALTY CORP US ADC 692 $46,578.52
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $441,612.42
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 49,467.44 $54,928.89
01609W102 ALIBABA GROUP - ADR CN BABA 1,551 $351,658.23
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 425,000 $456,914.44
01609WAY8 ALIBABA GROUP HOLDING 2.70000 02/09/2041 KY 425,000 $384,800.50
02079K305 ALPHABET INC-CL A US GOOGL 366 $754,882.32
023135106 AMAZON.COM INC US AMZN 296 $915,847.68
0237400 DIAGEO PLC GB DGE LN 4,288 $176,157.55
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 864 $37,298.88
025816109 AMERICAN EXPRESS CO US AXP 1,654 $233,941.76
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,519 $83,983.46
03027X100 AMERICAN TOWER REIT INC US AMT 1,707 $408,075.42
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 1,040,000 $1,131,596.80
03064D108 AMERICOLD REALTY TRUST US COLD 2,243 $86,288.21
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 25,000 $24,968.75
03750L109 APARTMENT INCOME REIT CO US AIRC 445 $19,028.20
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,510 $36,570.70
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $376,070.40
053015103 AUTOMATIC DATA PROCESSING US ADP 866 $163,215.02
053484101 AVALONBAY COMMUNITIES INC US AVB 322 $59,412.22
05401AAG6 AVOLON HOLDINGS FNDG LTD 4.37500 05/01/2026 KY 420,000 $438,876.13
05401AAJ0 AVOLON HOLDINGS FNDG LTD 3.25000 02/15/2027 KY 420,000 $416,345.90
055622104 BP PLC-SPONS ADR GB BP 4,135 $100,687.25
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $435,407.04
060505104 BANK OF AMERICA CORP US BAC 11,966 $462,964.54
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 490,000 $535,359.52
067901108 BARRICK GOLD CORP CA GOLD 10,280 $203,544.00
071734AH0 BAUSCH HEALTH COS INC 5.00000 01/30/2028 CA 40,000 $40,768.00
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 25,000 $25,125.00
084423102 WR BERKLEY CORP US WRB 3,999 $301,324.65
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 2,095 $535,209.65
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,698 $430,255.98
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 440,000 $436,954.30
105368203 BRANDYWINE REALTY TRUST US BDN 2,938 $37,929.58
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,343 $274,173.59
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717081103 PFIZER INC US PFE 11,520 $417,369.60
723787107 PIONEER NATURAL RESOURCES CO US PXD 1,622 $257,606.04
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 50,000 $53,961.25
74340W103 PROLOGIS US PLD 2,323 $246,238.00
74460D109 PUBLIC STORAGE INC US PSA 470 $115,977.20
747525103 QUALCOMM INC US QCOM 2,006 $265,975.54
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 40,000 $41,950.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 737 $10,833.90
75513E101 RAYTHEON TECHNOLOGIES CORP US RTX 3,285 $253,831.95
75606DAL5 REALOGY GROUP/CO-ISSUER 5.75000 01/15/2029 US 30,000 $29,587.50
756109104 REALTY INCOME CORP US O 321 $20,383.50
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 854 $43,041.60
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,420 $52,298.60
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 2,261 $260,015.00
78409V104 S&P GLOBAL INC US SPGI 545 $192,314.15
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,483 $689,156.65
78442PGC4 SLM CORP 5.12500 04/05/2022 US 50,000 $51,125.00
78442PGD2 SLM CORP 4.20000 10/29/2025 US 30,000 $31,500.60
78443BAG1 SLMA 2006-10 A6 FLT 0.36775 03/25/2044 US 122,257.51 $119,044.20
78448QAD0 SMB 2015 B A3 1.85600 05/17/2032 US 800,000 $811,526.56
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 592,514.74 $593,621.74
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 415,697.83 $425,050.86
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 910,000 $1,065,601.62
81141R100 SEA LTD - ADR SG SE 2,115 $472,131.45
81181C104 SEAGEN INC US SGEN 3,104 $431,021.44
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 208,888.52 $210,533.52
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 127,484.39 $128,716.58
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 160,996.88 $162,641.82
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 134,766.96 $135,230.57
81762P102 SERVICENOW INC US NOW 471 $235,551.81
83192CAB3 SMB 2019-B A2A 2.84000 06/15/2037 US 732,624.33 $762,380.23
83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 90,307.36 $91,323.88
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 40,861.03 $41,617.95
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 184,621.25 $190,983.89
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 62,431.46 $62,883.49
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 45,000 $46,012.50
835699307 SONY CORP SPONSORED ADR JP SONY 2,365 $250,713.65
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $298,027.20
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 700,000 $796,191.55
85172FAN9 SPRINGLEAF FINANCE CORP 7.12500 03/15/2026 US 25,000 $28,833.75
85254J102 STAG INDUSTRIAL INC US STAG 914 $30,719.54
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 55,000 $57,105.40
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.57600 11/15/2027 US 886,341.61 $651,461.08
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 45,000 $46,800.00
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 291,766.87 $296,701.67
866674104 SUN COMMUNITIES US SUI 785 $117,781.40
87105L104 SWITCH INC - A US SWCH 4,555 $74,064.30
87422VAA6 TALEN ENERGY SUPPLY LLC 6.50000 06/01/2025 US 25,000 $20,078.13
87485LAA2 TALOS PRODUCTION INC 12.00000 01/15/2026 US 45,000 $43,974.00
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 35,727.87 $35,805.00
87901JAJ4 TENGA INC 4.62500 03/15/2028 US 45,000 $45,787.50
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,693,645.20
88146M101 TERRENO REALTY CORP US TRNO 659 $38,070.43
882508104 TEXAS INSTRUMENTS INC US TXN 2,030 $383,649.70
883556102 THERMO FISHER SCIENTIFIC INC US TMO 488 $222,713.44
88579Y101 3M CO US MMM 1,471 $283,432.28
89151E109 TOTAL S A SPONSORED ADR FR TOT 7,250 $337,415.00
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 425,632.03 $433,785.56
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 177,262.58 $180,284.57
89177EAA7 TPMT 2019-HY1 A1 1.10863 10/25/2048 US 178,136.6 $179,466.64
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 494,668.45 $506,335.21
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 609,447.53 $599,428.64
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 675,000 $658,397.16
89832Q109 TRUIST FINANCIAL CORP US TFC 3,591 $209,427.12
902653104 UDR INC US UDR 1,394 $61,140.84
902973304 U.S. BANCORP US USB 3,796 $209,956.76
904767704 UNILEVER PLC - ADR GB UL 17,776 $992,434.08
907818108 UNION PAC CORP US UNP 1,494 $329,292.54
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 23,899.66 $23,253.33
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 27,152.92 $27,460.29
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 6,445,000 $6,465,007.99
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 6,285,000 $6,488,280.47
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 6,090,000 $6,489,180.50
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 4,990,000 $5,280,238.66
91823AAN1 VBTOW 2020-1A C2 3.03100 06/15/2050 US 150,000 $156,974.70
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 1,200,000 $1,354,988.58
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,898 $622,751.22
92556V106 VIATRIS INC US VTRS 1,223 $17,085.31
92826C839 VISA INC - CLASS A SHARES US V 3,499 $740,843.27
929160109 VULCAN MATERIALS CO US VMC 1,530 $258,187.50
93065PAA9 WBHT 2019-WBM A FLT 1.15600 12/15/2033 US 390,000 $389,527.55
931142103 WAL MART STORES US WMT 3,263 $443,213.29
93114W107 WALMART DE MEXICO MX WMMVY 7,629 $241,228.98
94106L109 WASTE MANAGEMENT INC US WM 1,309 $168,887.18
949746101 WELLS FARGO COMPANY US WFC 7,660 $299,276.20
95040Q104 WELLTOWER INC. US WELL 484 $34,668.92
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 40,000 $44,200.00
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 900,000 $876,956.66
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 114,772.96 $117,477.37
98978V103 ZOETIS INC US ZTS 748 $117,795.04
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 400,000 $19,631.79
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 140,000 $114,761.68
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,100,000 $54,879.72
B63QM77 NEXON CO LTD JP 3659 JP 15,500 $502,944.66
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $18,244.80
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 16,219 $20,998.10
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 70,000 $71,385.68
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 4,070 $324,816.75
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,256 $19,091.20
G1151C101 ACCENTURE PLC - CL A IE ACN 964 $266,305.00
G29183103 EATON CORP PLC US ETN 1,275 $176,307.00
G5494J103 LINDE PLC GB LIN 829 $232,236.06
G5960L103 MEDTRONIC INC IE MDT 4,749 $560,999.37
H01301128 ALCON INC CH ALC 8,238 $578,142.84
H1467J104 CHUBB LTD CH CB 1,114 $175,978.58
USD US DOLLAR US 3,689,990.21 $3,689,990.21
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $187,000.00

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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