Investment Objective

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

Investment Strategy

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

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

May be Appropriate for Investors

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

About Our Risk-Based Funds

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

Time Horizon & Range of Stock Exposure

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

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

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Daily Price

$13.45

Daily $ Change

-$0.04

Daily % Change

-0.30%

as of 09/27/2022

CUSIP

302027123

Inception Date

10/15/2013

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

Important Documents

Annual Report
Applications & Forms

Performance

As of 08/31/2022

YTD

-9.04%

1 Year

-8.81%

3 Year

3.01%

5 Year

3.88%

10 Year

4.21%

Inception
(01/01/2000)

5.55%

Performance through the inception date of the Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U 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 0.52%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 32.40%
GOVERNMENT AGENCY 8.73%
TREASURY BONDS 3.15%
TENCENT HOLDINGS 3.97500 04/11/2029 1.71%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.20%
CENOVUS ENERGY INC 6.75000 11/15/2039 1.13%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.04%
MAGALLANES INC 4.05400 03/15/2029 1.03%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.01%
CAALT 2021-2A A 0.96000 02/15/2030 0.89%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds 79.99%
Stocks 17.91%
Cash 2.10%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 4.61%
Small Capitalization 0.53%
Mid Capitalization 1.23%
Large Capitalization 11.54%
Long Term Fixed Income 18.08%
Intermediate Term Fixed Income 44.66%
Short Term Fixed Income 17.25%
Cash 2.10%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 83 $8,519.95
ACTIVISION INC US ATVI 2,257 $177,151.93
ADIDAS AG-SPONSORED ADR DE ADDYY 1,537 $114,014.66
ADMIRAL GROUP PLC GB AMIGY 6,034 $151,936.12
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 420,000 $359,970.24
ADYEN NV UNSPON ADR NL ADYEY 8,780 $136,177.80
AGREE REALTY CORP US ADC 151 $11,373.32
AIR LIQUIDE-ADR FR AIQUY 8,697 $218,033.79
AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $389,654.71
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 34,954.22 $35,192.14
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 810,000 $681,190.16
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 210,000 $174,999.33
ALLSTATE CORPORATION US ALL 34 $4,097.00
ALPHABET INC-CL A US GOOGL 2,680 $290,029.60
AMAZON.COM INC US AMZN 5,762 $730,448.74
AMAZON.COM INC 3.30000 04/13/2027 US 780,000 $763,173.57
DIAGEO PLC GB DGE LN 730 $31,715.87
BAE SYSTEMS PLC GB BA/ LN 2,855 $25,712.42
AMERICAN HOMES 4 RENT- A US AMH 736 $26,172.16
AMERICAN TOWER REIT INC US AMT 83 $21,086.15
ANALOG DEVICES INC US ADI 48 $7,273.44
APPLE HOSPITALITY REIT INC US APLE 1,630 $25,933.30
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,496.04
ARCHER-DANIELS-MIDLAND CO US ADM 55 $4,833.95
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $329,893.75
AUTOMATIC DATA PROCESSING US ADP 33 $8,065.53
AVALONBAY COMMUNITIES INC US AVB 128 $25,716.48
BAE SYSTEMS PLC -SPON ADR GB BAESY 4,475 $161,547.50
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $374,082.89
BANK OF AMERICA CORP 2.68700 04/22/2032 US 650,000 $542,498.72
BARRICK GOLD CORP CA GOLD 5,123 $76,076.55
BAXTER INTERNATIONAL INC US BAX 42 $2,413.32
BEST BUY INC US BBY 33 $2,332.77
BIOMARIN PHARMACEUTICAL INC US BMRN 2,360 $210,512.00
BLACKROCK INC US BLK 241 $160,599.99
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 360,000 $318,528.09
DECHRA PHARMACEUTICALS PLC GB DPH LN 465 $18,805.96
BRANDYWINE REALTY TRUST US BDN 911 $7,315.33
BRISTOL MYERS SQUIBB CO US BMY 152 $10,246.32
BROADRIDGE FINANCIAL SOLUTIONS US BR 16 $2,738.72
JONAH ENERGY PARENT LLC US 2,051 $116,722.41
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 345,188.81 $313,686.95
SORT 2020-1 A2 1.99000 07/15/2060 US 275,058.17 $235,804.56
C.H. ROBINSON WORLDWIDE INC US CHRW 21 $2,397.15
CIM 2019-INV1 A1 4.00000 02/25/2049 US 13,721.53 $13,616.90
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 114,409.83 $106,275.39
COTERRA ENERGY INC US CTRA 76 $2,349.16
CAMDEN PROPERTY TRUST US CPT 141 $18,119.91
CAMECO CORP CA CCJ 335 $9,765.25
CAMPBELL SOUP CO US CPB 47 $2,367.86
CANADIAN NATIONAL RAILWAY CO CA CNI 2,239 $266,239.49
CARETRUST REIT INC US CTRE 1,002 $21,583.08
CATERPILLAR INC US CAT 41 $7,573.11
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 899 $17,467.57
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 890,000 $972,065.00
CHARTER COMMUNICATIONS INC-A US CHTR 516 $212,917.08
CHEVRON CORP US CVX 76 $12,012.56
CINCINNATI FINANCIAL CORP US CINF 22 $2,133.12
CISCO SYSTEMS INC US CSCO 259 $11,582.48
CITIGROUP INC US C 166 $8,102.46
CITIGROUP INC 1.46200 06/09/2027 US 620,000 $547,251.84
CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $684,943.11
COCA COLA CO/THE US KO 4,991 $307,994.61
COLGATE-PALMOLIVE CO US CL 77 $6,022.17
COMCAST CORP-CL A US CMCSA 273 $9,879.87
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 161,486.92 $150,880.45
COMMUNITY HEALTHCARE TRUST I US CHCT 317 $11,694.13
CONAGRA BRAND INC. US CAG 70 $2,406.60
CONOCOPHILLIPS US COP 69 $7,552.05
CONTROLADORA VUELA CIA DE AV MX VLRS 632 $5,612.16
COPART INC US CPRT 1,475 $176,483.75
COUSINS PROPERTIES INC US CUZ 670 $17,989.50
CAALT 2021-2A A 0.96000 02/15/2030 US 800,000 $767,871.91
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 480,000 $424,937.52
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 68,669.71 $61,168.22
CUMMINS INC US CMI 18 $3,876.66
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 410,000 $365,117.70
KIMBERLY CLARK DE MEXICO S.A.B. MX 20,000 $27,151.12
DEVON ENERGY CORPORATION US DVN 54 $3,813.48
DIAMONDBACK ENERGY INC US FANG 16 $2,132.48
DIGITAL REALTY TRUST INC US DLR 257 $31,772.91
DOLLAR TREE STORES INC US DLTR 1,175 $159,424.00
DOW INC US DOW 58 $2,958.00
DREYFUS GVT CSH MANAGEMENT US 1,845,705.21 $1,845,705.21
DUKE RLTY INVTS INC US DRE 296 $17,419.60
EOG RESOURCES INC US EOG 38 $4,609.40
EASTMAN CHEM CO US EMN 20 $1,820.00
EBAY INC US EBAY 52 $2,294.76
ELECTRONIC ARTS US EA 1,407 $178,506.09
EMERSON ELEC CO US EMR 59 $4,822.66
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $869,290.92
EQUINIX INC US EQIX 390 $256,374.30
EQUITY LIFESTYLE PROPERTIES US ELS 525 $36,802.50
ESSEX PROPERTY TRUST INC US ESS 78 $20,674.68
EXPEDIA GROUP INC 3.25000 02/15/2030 US 430,000 $372,096.39
EXTRA SPACE STORAGE INC US EXR 63 $12,519.99
FMC CORP US FMC 3,289 $355,475.12
FREMF 2015-K42 B FLT 3.97997 01/25/2048 US 180,000 $174,617.65
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 90,000 $90,329.87
FREMF 2014-K41 B FLT 3.96402 11/25/2047 US 700,000 $680,536.52
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 9,377,829.19 $2,198.26
META PLATFORMS INC US META 2,461 $400,970.73
FHLM POOL G05906 6.00000 04/01/2040 US 4,680.67 $5,027.77
FHLM POOL G06789 6.00000 05/01/2040 US 60,651.64 $65,450.55
FHLM POOL G13331 5.50000 10/01/2023 US 2,417.39 $2,431.31
FHLM POOL G13078 6.00000 03/01/2023 US 29.54 $29.55
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 132,804.76 $134,179.00
FHLM POOL FG G08734 4.00000 11/01/2046 US 14,947.01 $14,839.78
FHLM POOL C91746 4.50000 12/01/2033 US 17,666.2 $17,913.03
FHLM POOL Q93451 4.50000 08/01/2040 US 180,775.37 $185,090.84
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 719,410.38 $672,522.54
FHLM POOL SD8230 4.50000 06/01/2052 US 712,072.1 $709,632.04
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 106,196.73 $105,401.23
FNR 2018-31 KP 3.50000 07/25/2047 US 14,210.81 $14,049.31
FHMS K030 X1 FLT 0.25907 04/25/2023 US 26,158,125.51 $16,589.74
FHMS K032 X1 FLT 0.17942 05/25/2023 US 15,867,730.79 $8,103.81
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 98,169.8 $100,413.08
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 28,381.73 $29,030.28
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 34,788.11 $35,583.06
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 301,764.74 $321,522.69
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 277,804.67 $283,764.71
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,549.87 $4,949.54
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 119,848.99 $118,878.91
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 715,079.41 $688,727.97
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 690,515.59 $667,656.90
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 3.88 $3.87
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 3,236.81 $3,461.51
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,544.85 $1,622.09
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 12,949.78 $14,162.17
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 7,988.99 $8,527.70
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,163.29 $2,292.52
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 4,902.9 $5,230.79
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 349.75 $353.27
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 2,823.59 $2,852.01
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 3,149.66 $3,287.65
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 1,636.34 $1,708.03
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 5,909.81 $6,045.41
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 88,236.14 $90,259.52
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 79,463.94 $81,286.16
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 116,554.57 $117,646.30
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 64,749.32 $63,005.46
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 839,544.9 $765,317.23
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 740,492.09 $707,658.46
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 730,620.32 $714,751.17
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 731,525.39 $722,569.70
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 13,646.72 $14,664.65
FEDEX CORPORATION US FDX 645 $135,972.45
FIFTH THIRD BANCORP US FITB 91 $3,107.65
FLX 2021-1A A2 3.25000 11/27/2051 US 670,000 $612,181.61
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $447,593.59
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 806,344.29 $731,255.86
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 305,656.54 $276,382.20
GSMBS 2021-INV1 A9 3.03319 12/25/2051 US 406,232.83 $381,235.98
GNMA POOL 660997 5.50000 05/15/2037 US 19,261.27 $20,200.30
GENERAL DYNAMICS CORP US GD 26 $5,952.18
GENERAL MLS INC US GIS 64 $4,915.20
GENUINE PARTS CO US GPC 20 $3,120.20
GETTY REALTY CORP US GTY 410 $12,332.80
GILEAD SCIENCES INC US GILD 117 $7,425.99
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 99,712.27 $94,627.11
GRAPHIC PACKAGING HOLDING CO US GPK 7,216 $160,700.32
GREENIDGE GEN HLD INC US 2,600 $36,426.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 33 $4,704.81
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 23 $4,863.81
AIRBUS SE FR AIR FP 150 $14,698.97
ADIDAS AG DE ADS GR 164 $24,318.43
HCA INC 4.12500 06/15/2029 US 560,000 $520,257.46
HDFC BANK LTD-ADR IN HDB 324 $19,780.20
L'OREAL FR OR FP 18 $6,181.99
HAWAII ST 2.68200 10/01/2038 US 380,000 $298,699.91
HEALTHCARE REALTY TRUST INC US HR 995 $24,198.40
HEINEKEN NV-SPN ADR NL HEINY 3,282 $147,427.44
HOME DEPOT INC US HD 57 $16,439.94
HONEYWELL INTERNATIONAL INC US HON 52 $9,846.20
IIP OPERATING PARTNER 5.50000 05/25/2026 US 95,000 $84,619.98
IDEXX LABORATORIES INC US IDXX 338 $117,495.56
KERRY GROUP PLC-A IE KYGA ID 116 $11,962.12
ILLINOIS TOOL WKS INC US ITW 30 $5,844.90
IMPRL 2021-NQM3 1.59500 11/25/2056 US 372,210.56 $317,672.84
INDEPENDENCE REALTY TRUST IN US IRT 441 $8,577.45
INTEL CORP US INTC 287 $9,161.04
INTERCONTINENTALEXCHANGE INC US ICE 2,769 $279,253.65
INTERNATIONAL FLVRS & FRAGRANCES US IFF 30 $3,314.40
INTUITIVE SURGICAL INC US ISRG 759 $156,156.66
INVITATION HOMES INC US INVH 932 $33,812.96
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,000 $95,130.00
JP MORGAN CHASE & CO US JPM 158 $17,969.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 98,615.71 $94,127.80
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 920,000 $894,891.66
JOHNSON & JOHNSON US JNJ 3,396 $547,910.64
KREF 2021-FL2 A 3.44971 02/15/2039 US 400,000 $388,184.36
KEYCORP US KEY 96 $1,698.24
KROGER CO US KR 81 $3,883.14
L3HARRIS TECHNOLOGIES INC US LHX 741 $169,088.79
BEIERSDORF AG DE BEI GR 296 $29,878.25
LENNAR CORP US LEN 28 $2,168.60
LIFE STORAGE INC US LSI 179 $22,777.75
LOCKHEED MARTIN CORP US LMT 21 $8,822.31
LULULEMON - ADR CA LULU 656 $196,773.76
MAGALLANES INC 4.05400 03/15/2029 US 970,000 $882,872.32
MARATHON PETROLEUM CORP US MPC 41 $4,130.75
MARRIOTT VACATIONS WORLD US VAC 86 $12,248.12
MASTERCARD INC-CLASS A US MA 1,496 $485,257.52
MCDONALDS CORP US MCD 36 $9,082.08
MERCADOLIBRE INC BR MELI 32 $27,371.52
MERCK & CO INC US MRK 166 $14,169.76
MICROSOFT CORP US MSFT 2,140 $559,545.80
MICROCHIP TECHNOLOGY INC US MCHP 47 $3,066.75
MID-AMERICA APARTMENT COMM US MAA 149 $24,684.83
MONDELEZ INTERNATIONAL INC US MDLZ 5,674 $350,993.64
MOODY'S CORPORATION US MCO 994 $282,812.88
MOTOROLA SOLUTIONS INC US MSI 19 $4,624.79
NAVIENT CORP 6.75000 06/25/2025 US 95,000 $91,714.46
NESTLE S.A. - ADR CH NSRGY 2,012 $235,524.72
NETAPP INC US NTAP 33 $2,380.29
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 140,833.94 $134,706.00
NRZT 2015-2A A1 3.75000 08/25/2055 US 154,443.26 $147,205.03
NRZT 2016-4A A1 3.75000 11/25/2056 US 210,724.62 $201,169.67
KEYENCE CORP JP 6861 JP 100 $37,547.41
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $207,873.22
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 430,000 $373,136.33
NEWMONT GOLDCORP CORP US NEM 1,566 $64,769.76
NIKE INC CLASS B US NKE 1,430 $152,223.50
NORFOLK SOUTHN CORP US NSC 662 $160,952.06
NIKON CORP JP 7731 JP 1,000 $11,415.22
NORTHROP GRUMMAN CORP US NOC 400 $191,196.00
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $13.50
NOVARTIS AG- REG CH NVS 4,685 $377,236.20
NUCOR CORP US NUE 28 $3,722.32
OMNICOM GROUP US OMC 33 $2,207.70
SONY CORP FIRST SECTION JP 6758 JP 200 $15,900.66
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $340,002.93
OXFIN 2020-1A A2 3.10100 02/15/2028 US 185,495.04 $183,671.61
OXFIN 2019-1A A2 4.45900 02/15/2027 US 350,399.09 $348,546.64
OXFIN 2022-1A 3.60200 02/15/2030 US 575,000 $539,687.70
PPG INDUSTRIES INC US PPG 20 $2,539.60
PACKAGING CORP OF AMERICA US PKG 15 $2,053.80
PARKER HANNIFIN CORP US PH 11 $2,915.00
DEUTSCHE BOERSE AG DE DB1 GR 154 $26,037.47
PAYPAL HOLDINGS INC US PYPL 3,283 $306,763.52
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 705,689.65 $670,100.24
PELORUS FUND REIT 7.00000 09/30/2026 US 105,000 $97,760.03
NESTLE SA-REGISTERED CH NESN SW 398 $46,575.14
PEPSICO INC 3.90000 07/18/2032 US 710,000 $697,468.75
PFIZER INC US PFE 235 $10,629.05
PIONEER NATURAL RESOURCES CO US PXD 17 $4,304.74
POPULAR INC 6.12500 09/14/2023 PR 90,000 $91,152.56
PROCTER & GAMBLE CO US PG 125 $17,242.50
PROLOGIS US PLD 802 $99,857.02
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 632,977.71 $541,126.62
PFMT 2021-2 A2A 2.00000 04/25/2051 US 399,187.78 $348,820.52
PUBLIC STORAGE INC US PSA 139 $45,985.37
QUALCOMM INC US QCOM 84 $11,110.68
QUALCOMM INC 4.25000 05/20/2032 US 730,000 $738,672.59
QUEST DIAGNOSTICS INC US DGX 19 $2,380.89
RCKT 2021-6 A1 2.50000 12/25/2051 US 400,502.28 $341,582.08
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,862 $39,409.74
REGIONS FINANCIAL CORP. US RF 132 $2,860.44
REPUBLIC SERVICES INC US RSG 34 $4,852.48
RESTAURANT BRANDS INTERN CA QSR 250 $14,750.00
REXFORD INDUSTRIAL REALITY IN US REXR 495 $30,793.95
GETINGE AB-B SHS SE GETIB SS 955 $17,688.08
ROSS STORES INC US ROST 30 $2,588.10
HEINEKEN NV NL HEIA NA 284 $25,525.65
RYANAIR HOLDINGS - ADR IE RYAAY 1,886 $137,131.06
S&P GLOBAL INC US SPGI 322 $113,401.96
SBA COMMUNICATIONS CORP US SBAC 1,456 $473,564.00
NAVIENT CORP 5.50000 01/25/2023 US 50,000 $49,766.14
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 99,961.81 $95,220.44
SMB 2015 B A3 4.14100 05/17/2032 US 523,950.13 $526,539.26
SMB 2020-BA A1A 1.29000 07/15/2053 US 372,505.05 $337,662.28
SOFI 2017-D A2FX 2.65000 09/25/2040 US 177,228.29 $174,011.74
SALESFORCE INC US CRM 1,685 $263,062.20
SEA LTD - ADR SG SE 261 $16,182.00
SEAGEN INC US SGEN 934 $144,106.86
SEMT 2013-6 A2 3.00000 05/25/2043 US 113,707.98 $106,298.83
SEMT 2013-7 A2 3.00000 06/25/2043 US 74,663.25 $66,948.24
SEMT 2013-8 A1 3.00000 06/25/2043 US 86,014.91 $80,606.33
SEMT 2013-2 1.87400 02/25/2043 US 64,757.77 $57,313.22
SERVICENOW INC US NOW 636 $276,418.32
SHOPIFY INC CA SHOP 150 $4,747.50
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,230,000 $1,029,853.97
SKYWORKS SOLUTIONS INC US SWKS 18 $1,773.90
SMB 2019-B A2A 2.84000 06/15/2037 US 477,770.2 $451,303.04
JM SMUCKER CO/THE-NEW COM WI US SJM 17 $2,379.83
SNOWFLAKE INC-CLASS A US SNOW 833 $150,731.35
SOFI 2016-C A2B 2.36000 12/27/2032 US 4,050.41 $4,042.56
SOFI 2016-D A2B 2.34000 04/25/2033 US 12,935.19 $12,797.76
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 73,240.66 $71,784.80
SONY CORP SPONSORED ADR JP SONY 1,700 $134,895.00
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $266,100.75
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 700,000 $712,962.15
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 45,000 $44,775.31
STANLEY BLACK & DECKER INC US SWK 16 $1,409.60
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 886,341.61 $621,050.85
STEEL DYNAMICS INC US STLD 28 $2,260.16
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 286,525.3 $260,262.51
SUN COMMUNITIES US SUI 248 $38,120.08
SYNCHRONOSS TECH US 5,900 $128,148.00
SYNERGY ONE LENDING 5.50000 10/14/2026 US 135,000 $116,568.60
TJX COMPANIES INC US TJX 78 $4,863.30
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 298 $24,838.30
TARGET CORP US TGT 28 $4,489.52
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,470,287.89
TERRENO REALTY CORP US TRNO 309 $18,845.91
TEXAS INSTRUMENTS INC US TXN 49 $8,095.29
THERMO FISHER SCIENTIFIC INC US TMO 309 $168,503.88
3M CO US MMM 50 $6,217.50
TPMT 2016-5 A1 2.50000 10/25/2056 US 112,957.09 $111,826.04
TPMT 2017-1 A1 2.75000 10/25/2056 US 48,341.21 $47,926.30
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 95,917.67 $94,840.27
TRACTOR SUPPLY COMPANY US TSCO 12 $2,221.80
TRAVELLERS COS INC US TRV 26 $4,202.64
TCF 2021-1A 1.86000 03/20/2046 US 593,718.75 $513,353.29
TYSON FOODS INC -CL A US TSN 42 $3,165.96
UDR INC US UDR 764 $34,280.68
U.S. BANCORP US USB 133 $6,066.13
UNILEVER PLC - ADR GB UL 8,563 $388,674.57
UNION PAC CORP US UNP 46 $10,327.46
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 108,554.1 $91,448.68
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,201.32
UNITED PARCEL SERVICE US UPS 829 $161,248.79
TREASURY BOND 2.37500 02/15/2042 US 3,260,000 $2,713,950.00
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 6,630,000 $6,462,696.13
US TREASURY N/B 2.25000 11/15/2025 US 6,695,000 $6,447,598.86
US TREASURY N/B 2.00000 11/15/2026 US 7,575,000 $7,161,925.78
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 6,565,000 $6,491,656.67
US TREASURY N/B 1.37500 11/15/2031 US 1,545,000 $1,327,492.97
VF CORP US VFC 40 $1,658.00
VENTAS INC US VTR 290 $13,879.40
VERTEX PHARMACEUTICALS INC US VRTX 701 $197,513.76
PARAMOUNT GLOBAL CLASS B US PARA 66 $1,543.74
VISA INC - CLASS A SHARES US V 1,885 $374,568.35
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 175,000 $168,759.81
VISTRA OPERATIONS 4.87500 05/13/2024 US 605,000 $598,085.36
WAL MART STORES US WMT 147 $19,484.85
WALGREENS BOOTS ALLIANCE INC US WBA 72 $2,524.32
WASTE MANAGEMENT INC US WM 39 $6,592.17
WELLTOWER INC. US WELL 336 $25,754.40
WIN 2015-1 A1 3.50000 01/20/2045 US 47,419.66 $45,669.32
ZOETIS INC US ZTS 464 $72,629.92
ADMIRAL GROUP PLC GB ADM LN 1,424 $35,028.68
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 700 $4,581.19
UBISOFT ENTERTAINMENT FR UBI FP 478 $22,043.00
DANONE FR BN FP 233 $12,260.53
AIR LIQUIDE FR AI FP 276 $34,586.34
BRENNTAG AG DE BNR GR 288 $18,883.44
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $16,042.14
KEYWORDS STUDIOS PLC IE KWS LN 195 $5,620.03
S4 CAPITAL PLC GB SFOR LN 3,707 $5,697.54
HELIOS TOWERS PLC GB HTWS LN 7,212 $10,335.30
AVANZA BANK HOLDING AB SE AZA SS 835 $13,384.24
AMERICAN TANKER INC 7.75000 07/02/2025 US 135,000 $130,514.99
SOFTWAREONE HOLDING AG CH SWON SW 1,049 $13,791.32
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 851 $13,488.35
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 124,000 $126,480.00
FINECOBANK SPA IT FBK IM 2,590 $28,003.85
ALLFUNDS GROUP PLC GB ALLFG NA 778 $6,108.46
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 200,000 $200,554.46
ROTORK PLC GB ROR LN 5,317 $15,253.45
AUTO TRADER GROUP PLC GB AUTO LN 4,645 $35,072.92
CELLNEX TELECOM SA ES CLNX SM 526 $20,483.88
ASSA ABLOY AB-B SE ASSAB SS 1,020 $20,659.05
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,941 $18,881.00
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,204 $19,032.54
ADYEN NV NL ADYEN NA 19 $29,319.76
BANK OF N.T. BUTTERFIELD&SON BM NTB 387 $12,623.94
BUNGE LIMITED US BG 20 $1,983.40
EATON CORP PLC US ETN 41 $5,602.24
JOHNSON CONTROLS INTERNATIONAL US JCI 75 $4,060.50
MEDTRONIC INC IE MDT 2,309 $203,007.28
ROYALTY PHARMA PLC- CL A US RPRX 57 $2,383.17
STONECO LTD-A BR STNE 823 $7,802.04
TRANE TECHNOLOGIES IE TT 19 $2,927.33
ALCON INC CH ALC 2,825 $185,546.00
CHUBB LTD CH CB 36 $6,805.80
GARMIN LTD CH GRMN 27 $2,389.23
TE CONNECTIVITY LIMITED CH TEL 27 $3,407.67
LYONDELLBASELL INDU-CL A US LYB 28 $2,324.00
PLAYA HOTELS AND RESORTS US PLYA 878 $5,759.68
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 186,000 $178,866.62

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

$13.45

Daily $ Change

-$0.04

Daily % Change

-0.30%

as of 09/27/2022

CUSIP

302027123

Inception Date

10/15/2013

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Investment Objective

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

Investment Strategy

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

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

May be Appropriate for Investors

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

About Our Risk-Based Funds

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

Time Horizon & Range of Stock Exposure

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

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

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Performance

As of 08/31/2022

YTD

-9.04%

1 Year

-8.81%

3 Year

3.01%

5 Year

3.88%

10 Year

4.21%

Inception
(01/01/2000)

5.55%

Performance through the inception date of the Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U 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 0.52%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 32.40%
GOVERNMENT AGENCY 8.73%
TREASURY BONDS 3.15%
TENCENT HOLDINGS 3.97500 04/11/2029 1.71%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 1.20%
CENOVUS ENERGY INC 6.75000 11/15/2039 1.13%
JPMORGAN CHASE & CO 4.49300 03/24/2031 1.04%
MAGALLANES INC 4.05400 03/15/2029 1.03%
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 1.01%
CAALT 2021-2A A 0.96000 02/15/2030 0.89%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds
79.99%
Stocks
17.91%
Cash
2.10%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
4.61%
Small Capitalization
0.53%
Mid Capitalization
1.23%
Large Capitalization
11.54%
Long Term Fixed Income
18.08%
Intermediate Term Fixed Income
44.66%
Short Term Fixed Income
17.25%
Cash
2.10%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 83 $8,519.95
ACTIVISION INC US ATVI 2,257 $177,151.93
ADIDAS AG-SPONSORED ADR DE ADDYY 1,537 $114,014.66
ADMIRAL GROUP PLC GB AMIGY 6,034 $151,936.12
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 420,000 $359,970.24
ADYEN NV UNSPON ADR NL ADYEY 8,780 $136,177.80
AGREE REALTY CORP US ADC 151 $11,373.32
AIR LIQUIDE-ADR FR AIQUY 8,697 $218,033.79
AIR LEASE CORP 3.62500 04/01/2027 US 420,000 $389,654.71
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 34,954.22 $35,192.14
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 810,000 $681,190.16
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 210,000 $174,999.33
ALLSTATE CORPORATION US ALL 34 $4,097.00
ALPHABET INC-CL A US GOOGL 2,680 $290,029.60
AMAZON.COM INC US AMZN 5,762 $730,448.74
AMAZON.COM INC 3.30000 04/13/2027 US 780,000 $763,173.57
DIAGEO PLC GB DGE LN 730 $31,715.87
BAE SYSTEMS PLC GB BA/ LN 2,855 $25,712.42
AMERICAN HOMES 4 RENT- A US AMH 736 $26,172.16
AMERICAN TOWER REIT INC US AMT 83 $21,086.15
ANALOG DEVICES INC US ADI 48 $7,273.44
APPLE HOSPITALITY REIT INC US APLE 1,630 $25,933.30
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,496.04
ARCHER-DANIELS-MIDLAND CO US ADM 55 $4,833.95
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 360,000 $329,893.75
AUTOMATIC DATA PROCESSING US ADP 33 $8,065.53
AVALONBAY COMMUNITIES INC US AVB 128 $25,716.48
BAE SYSTEMS PLC -SPON ADR GB BAESY 4,475 $161,547.50
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 380,000 $374,082.89
BANK OF AMERICA CORP 2.68700 04/22/2032 US 650,000 $542,498.72
BARRICK GOLD CORP CA GOLD 5,123 $76,076.55
BAXTER INTERNATIONAL INC US BAX 42 $2,413.32
BEST BUY INC US BBY 33 $2,332.77
BIOMARIN PHARMACEUTICAL INC US BMRN 2,360 $210,512.00
BLACKROCK INC US BLK 241 $160,599.99
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 360,000 $318,528.09
DECHRA PHARMACEUTICALS PLC GB DPH LN 465 $18,805.96
BRANDYWINE REALTY TRUST US BDN 911 $7,315.33
BRISTOL MYERS SQUIBB CO US BMY 152 $10,246.32
BROADRIDGE FINANCIAL SOLUTIONS US BR 16 $2,738.72
JONAH ENERGY PARENT LLC US 2,051 $116,722.41
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 345,188.81 $313,686.95
SORT 2020-1 A2 1.99000 07/15/2060 US 275,058.17 $235,804.56
C.H. ROBINSON WORLDWIDE INC US CHRW 21 $2,397.15
CIM 2019-INV1 A1 4.00000 02/25/2049 US 13,721.53 $13,616.90
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 114,409.83 $106,275.39
COTERRA ENERGY INC US CTRA 76 $2,349.16
CAMDEN PROPERTY TRUST US CPT 141 $18,119.91
CAMECO CORP CA CCJ 335 $9,765.25
CAMPBELL SOUP CO US CPB 47 $2,367.86
CANADIAN NATIONAL RAILWAY CO CA CNI 2,239 $266,239.49
CARETRUST REIT INC US CTRE 1,002 $21,583.08
CATERPILLAR INC US CAT 41 $7,573.11
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 899 $17,467.57
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 890,000 $972,065.00
CHARTER COMMUNICATIONS INC-A US CHTR 516 $212,917.08
CHEVRON CORP US CVX 76 $12,012.56
CINCINNATI FINANCIAL CORP US CINF 22 $2,133.12
CISCO SYSTEMS INC US CSCO 259 $11,582.48
CITIGROUP INC US C 166 $8,102.46
CITIGROUP INC 1.46200 06/09/2027 US 620,000 $547,251.84
CLARK CNTY NV 1.51000 11/01/2028 US 800,000 $684,943.11
COCA COLA CO/THE US KO 4,991 $307,994.61
COLGATE-PALMOLIVE CO US CL 77 $6,022.17
COMCAST CORP-CL A US CMCSA 273 $9,879.87
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 161,486.92 $150,880.45
COMMUNITY HEALTHCARE TRUST I US CHCT 317 $11,694.13
CONAGRA BRAND INC. US CAG 70 $2,406.60
CONOCOPHILLIPS US COP 69 $7,552.05
CONTROLADORA VUELA CIA DE AV MX VLRS 632 $5,612.16
COPART INC US CPRT 1,475 $176,483.75
COUSINS PROPERTIES INC US CUZ 670 $17,989.50
CAALT 2021-2A A 0.96000 02/15/2030 US 800,000 $767,871.91
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 480,000 $424,937.52
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 68,669.71 $61,168.22
CUMMINS INC US CMI 18 $3,876.66
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 410,000 $365,117.70
KIMBERLY CLARK DE MEXICO S.A.B. MX 20,000 $27,151.12
DEVON ENERGY CORPORATION US DVN 54 $3,813.48
DIAMONDBACK ENERGY INC US FANG 16 $2,132.48
DIGITAL REALTY TRUST INC US DLR 257 $31,772.91
DOLLAR TREE STORES INC US DLTR 1,175 $159,424.00
DOW INC US DOW 58 $2,958.00
DREYFUS GVT CSH MANAGEMENT US 1,845,705.21 $1,845,705.21
DUKE RLTY INVTS INC US DRE 296 $17,419.60
EOG RESOURCES INC US EOG 38 $4,609.40
EASTMAN CHEM CO US EMN 20 $1,820.00
EBAY INC US EBAY 52 $2,294.76
ELECTRONIC ARTS US EA 1,407 $178,506.09
EMERSON ELEC CO US EMR 59 $4,822.66
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 860,000 $869,290.92
EQUINIX INC US EQIX 390 $256,374.30
EQUITY LIFESTYLE PROPERTIES US ELS 525 $36,802.50
ESSEX PROPERTY TRUST INC US ESS 78 $20,674.68
EXPEDIA GROUP INC 3.25000 02/15/2030 US 430,000 $372,096.39
EXTRA SPACE STORAGE INC US EXR 63 $12,519.99
FMC CORP US FMC 3,289 $355,475.12
FREMF 2015-K42 B FLT 3.97997 01/25/2048 US 180,000 $174,617.65
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 90,000 $90,329.87
FREMF 2014-K41 B FLT 3.96402 11/25/2047 US 700,000 $680,536.52
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 9,377,829.19 $2,198.26
META PLATFORMS INC US META 2,461 $400,970.73
FHLM POOL G05906 6.00000 04/01/2040 US 4,680.67 $5,027.77
FHLM POOL G06789 6.00000 05/01/2040 US 60,651.64 $65,450.55
FHLM POOL G13331 5.50000 10/01/2023 US 2,417.39 $2,431.31
FHLM POOL G13078 6.00000 03/01/2023 US 29.54 $29.55
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 132,804.76 $134,179.00
FHLM POOL FG G08734 4.00000 11/01/2046 US 14,947.01 $14,839.78
FHLM POOL C91746 4.50000 12/01/2033 US 17,666.2 $17,913.03
FHLM POOL Q93451 4.50000 08/01/2040 US 180,775.37 $185,090.84
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 719,410.38 $672,522.54
FHLM POOL SD8230 4.50000 06/01/2052 US 712,072.1 $709,632.04
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 106,196.73 $105,401.23
FNR 2018-31 KP 3.50000 07/25/2047 US 14,210.81 $14,049.31
FHMS K030 X1 FLT 0.25907 04/25/2023 US 26,158,125.51 $16,589.74
FHMS K032 X1 FLT 0.17942 05/25/2023 US 15,867,730.79 $8,103.81
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 98,169.8 $100,413.08
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 28,381.73 $29,030.28
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 34,788.11 $35,583.06
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 301,764.74 $321,522.69
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 277,804.67 $283,764.71
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 4,549.87 $4,949.54
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 119,848.99 $118,878.91
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 715,079.41 $688,727.97
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 690,515.59 $667,656.90
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 3.88 $3.87
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 3,236.81 $3,461.51
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 1,544.85 $1,622.09
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 12,949.78 $14,162.17
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 7,988.99 $8,527.70
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 2,163.29 $2,292.52
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 4,902.9 $5,230.79
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 349.75 $353.27
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 2,823.59 $2,852.01
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 3,149.66 $3,287.65
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 1,636.34 $1,708.03
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 5,909.81 $6,045.41
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 88,236.14 $90,259.52
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 79,463.94 $81,286.16
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 116,554.57 $117,646.30
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 64,749.32 $63,005.46
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 839,544.9 $765,317.23
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 740,492.09 $707,658.46
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 730,620.32 $714,751.17
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 731,525.39 $722,569.70
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 13,646.72 $14,664.65
FEDEX CORPORATION US FDX 645 $135,972.45
FIFTH THIRD BANCORP US FITB 91 $3,107.65
FLX 2021-1A A2 3.25000 11/27/2051 US 670,000 $612,181.61
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 470,000 $447,593.59
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 806,344.29 $731,255.86
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 305,656.54 $276,382.20
GSMBS 2021-INV1 A9 3.03319 12/25/2051 US 406,232.83 $381,235.98
GNMA POOL 660997 5.50000 05/15/2037 US 19,261.27 $20,200.30
GENERAL DYNAMICS CORP US GD 26 $5,952.18
GENERAL MLS INC US GIS 64 $4,915.20
GENUINE PARTS CO US GPC 20 $3,120.20
GETTY REALTY CORP US GTY 410 $12,332.80
GILEAD SCIENCES INC US GILD 117 $7,425.99
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 99,712.27 $94,627.11
GRAPHIC PACKAGING HOLDING CO US GPK 7,216 $160,700.32
GREENIDGE GEN HLD INC US 2,600 $36,426.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 33 $4,704.81
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 23 $4,863.81
AIRBUS SE FR AIR FP 150 $14,698.97
ADIDAS AG DE ADS GR 164 $24,318.43
HCA INC 4.12500 06/15/2029 US 560,000 $520,257.46
HDFC BANK LTD-ADR IN HDB 324 $19,780.20
L'OREAL FR OR FP 18 $6,181.99
HAWAII ST 2.68200 10/01/2038 US 380,000 $298,699.91
HEALTHCARE REALTY TRUST INC US HR 995 $24,198.40
HEINEKEN NV-SPN ADR NL HEINY 3,282 $147,427.44
HOME DEPOT INC US HD 57 $16,439.94
HONEYWELL INTERNATIONAL INC US HON 52 $9,846.20
IIP OPERATING PARTNER 5.50000 05/25/2026 US 95,000 $84,619.98
IDEXX LABORATORIES INC US IDXX 338 $117,495.56
KERRY GROUP PLC-A IE KYGA ID 116 $11,962.12
ILLINOIS TOOL WKS INC US ITW 30 $5,844.90
IMPRL 2021-NQM3 1.59500 11/25/2056 US 372,210.56 $317,672.84
INDEPENDENCE REALTY TRUST IN US IRT 441 $8,577.45
INTEL CORP US INTC 287 $9,161.04
INTERCONTINENTALEXCHANGE INC US ICE 2,769 $279,253.65
INTERNATIONAL FLVRS & FRAGRANCES US IFF 30 $3,314.40
INTUITIVE SURGICAL INC US ISRG 759 $156,156.66
INVITATION HOMES INC US INVH 932 $33,812.96
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,000 $95,130.00
JP MORGAN CHASE & CO US JPM 158 $17,969.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 98,615.71 $94,127.80
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 920,000 $894,891.66
JOHNSON & JOHNSON US JNJ 3,396 $547,910.64
KREF 2021-FL2 A 3.44971 02/15/2039 US 400,000 $388,184.36
KEYCORP US KEY 96 $1,698.24
KROGER CO US KR 81 $3,883.14
L3HARRIS TECHNOLOGIES INC US LHX 741 $169,088.79
BEIERSDORF AG DE BEI GR 296 $29,878.25
LENNAR CORP US LEN 28 $2,168.60
LIFE STORAGE INC US LSI 179 $22,777.75
LOCKHEED MARTIN CORP US LMT 21 $8,822.31
LULULEMON - ADR CA LULU 656 $196,773.76
MAGALLANES INC 4.05400 03/15/2029 US 970,000 $882,872.32
MARATHON PETROLEUM CORP US MPC 41 $4,130.75
MARRIOTT VACATIONS WORLD US VAC 86 $12,248.12
MASTERCARD INC-CLASS A US MA 1,496 $485,257.52
MCDONALDS CORP US MCD 36 $9,082.08
MERCADOLIBRE INC BR MELI 32 $27,371.52
MERCK & CO INC US MRK 166 $14,169.76
MICROSOFT CORP US MSFT 2,140 $559,545.80
MICROCHIP TECHNOLOGY INC US MCHP 47 $3,066.75
MID-AMERICA APARTMENT COMM US MAA 149 $24,684.83
MONDELEZ INTERNATIONAL INC US MDLZ 5,674 $350,993.64
MOODY'S CORPORATION US MCO 994 $282,812.88
MOTOROLA SOLUTIONS INC US MSI 19 $4,624.79
NAVIENT CORP 6.75000 06/25/2025 US 95,000 $91,714.46
NESTLE S.A. - ADR CH NSRGY 2,012 $235,524.72
NETAPP INC US NTAP 33 $2,380.29
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 140,833.94 $134,706.00
NRZT 2015-2A A1 3.75000 08/25/2055 US 154,443.26 $147,205.03
NRZT 2016-4A A1 3.75000 11/25/2056 US 210,724.62 $201,169.67
KEYENCE CORP JP 6861 JP 100 $37,547.41
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 215,000 $207,873.22
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 430,000 $373,136.33
NEWMONT GOLDCORP CORP US NEM 1,566 $64,769.76
NIKE INC CLASS B US NKE 1,430 $152,223.50
NORFOLK SOUTHN CORP US NSC 662 $160,952.06
NIKON CORP JP 7731 JP 1,000 $11,415.22
NORTHROP GRUMMAN CORP US NOC 400 $191,196.00
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 135,000 $13.50
NOVARTIS AG- REG CH NVS 4,685 $377,236.20
NUCOR CORP US NUE 28 $3,722.32
OMNICOM GROUP US OMC 33 $2,207.70
SONY CORP FIRST SECTION JP 6758 JP 200 $15,900.66
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 380,000 $340,002.93
OXFIN 2020-1A A2 3.10100 02/15/2028 US 185,495.04 $183,671.61
OXFIN 2019-1A A2 4.45900 02/15/2027 US 350,399.09 $348,546.64
OXFIN 2022-1A 3.60200 02/15/2030 US 575,000 $539,687.70
PPG INDUSTRIES INC US PPG 20 $2,539.60
PACKAGING CORP OF AMERICA US PKG 15 $2,053.80
PARKER HANNIFIN CORP US PH 11 $2,915.00
DEUTSCHE BOERSE AG DE DB1 GR 154 $26,037.47
PAYPAL HOLDINGS INC US PYPL 3,283 $306,763.52
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 705,689.65 $670,100.24
PELORUS FUND REIT 7.00000 09/30/2026 US 105,000 $97,760.03
NESTLE SA-REGISTERED CH NESN SW 398 $46,575.14
PEPSICO INC 3.90000 07/18/2032 US 710,000 $697,468.75
PFIZER INC US PFE 235 $10,629.05
PIONEER NATURAL RESOURCES CO US PXD 17 $4,304.74
POPULAR INC 6.12500 09/14/2023 PR 90,000 $91,152.56
PROCTER & GAMBLE CO US PG 125 $17,242.50
PROLOGIS US PLD 802 $99,857.02
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 632,977.71 $541,126.62
PFMT 2021-2 A2A 2.00000 04/25/2051 US 399,187.78 $348,820.52
PUBLIC STORAGE INC US PSA 139 $45,985.37
QUALCOMM INC US QCOM 84 $11,110.68
QUALCOMM INC 4.25000 05/20/2032 US 730,000 $738,672.59
QUEST DIAGNOSTICS INC US DGX 19 $2,380.89
RCKT 2021-6 A1 2.50000 12/25/2051 US 400,502.28 $341,582.08
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,862 $39,409.74
REGIONS FINANCIAL CORP. US RF 132 $2,860.44
REPUBLIC SERVICES INC US RSG 34 $4,852.48
RESTAURANT BRANDS INTERN CA QSR 250 $14,750.00
REXFORD INDUSTRIAL REALITY IN US REXR 495 $30,793.95
GETINGE AB-B SHS SE GETIB SS 955 $17,688.08
ROSS STORES INC US ROST 30 $2,588.10
HEINEKEN NV NL HEIA NA 284 $25,525.65
RYANAIR HOLDINGS - ADR IE RYAAY 1,886 $137,131.06
S&P GLOBAL INC US SPGI 322 $113,401.96
SBA COMMUNICATIONS CORP US SBAC 1,456 $473,564.00
NAVIENT CORP 5.50000 01/25/2023 US 50,000 $49,766.14
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 99,961.81 $95,220.44
SMB 2015 B A3 4.14100 05/17/2032 US 523,950.13 $526,539.26
SMB 2020-BA A1A 1.29000 07/15/2053 US 372,505.05 $337,662.28
SOFI 2017-D A2FX 2.65000 09/25/2040 US 177,228.29 $174,011.74
SALESFORCE INC US CRM 1,685 $263,062.20
SEA LTD - ADR SG SE 261 $16,182.00
SEAGEN INC US SGEN 934 $144,106.86
SEMT 2013-6 A2 3.00000 05/25/2043 US 113,707.98 $106,298.83
SEMT 2013-7 A2 3.00000 06/25/2043 US 74,663.25 $66,948.24
SEMT 2013-8 A1 3.00000 06/25/2043 US 86,014.91 $80,606.33
SEMT 2013-2 1.87400 02/25/2043 US 64,757.77 $57,313.22
SERVICENOW INC US NOW 636 $276,418.32
SHOPIFY INC CA SHOP 150 $4,747.50
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,230,000 $1,029,853.97
SKYWORKS SOLUTIONS INC US SWKS 18 $1,773.90
SMB 2019-B A2A 2.84000 06/15/2037 US 477,770.2 $451,303.04
JM SMUCKER CO/THE-NEW COM WI US SJM 17 $2,379.83
SNOWFLAKE INC-CLASS A US SNOW 833 $150,731.35
SOFI 2016-C A2B 2.36000 12/27/2032 US 4,050.41 $4,042.56
SOFI 2016-D A2B 2.34000 04/25/2033 US 12,935.19 $12,797.76
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 73,240.66 $71,784.80
SONY CORP SPONSORED ADR JP SONY 1,700 $134,895.00
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 290,000 $266,100.75
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 700,000 $712,962.15
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 45,000 $44,775.31
STANLEY BLACK & DECKER INC US SWK 16 $1,409.60
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 886,341.61 $621,050.85
STEEL DYNAMICS INC US STLD 28 $2,260.16
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 286,525.3 $260,262.51
SUN COMMUNITIES US SUI 248 $38,120.08
SYNCHRONOSS TECH US 5,900 $128,148.00
SYNERGY ONE LENDING 5.50000 10/14/2026 US 135,000 $116,568.60
TJX COMPANIES INC US TJX 78 $4,863.30
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 298 $24,838.30
TARGET CORP US TGT 28 $4,489.52
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,560,000 $1,470,287.89
TERRENO REALTY CORP US TRNO 309 $18,845.91
TEXAS INSTRUMENTS INC US TXN 49 $8,095.29
THERMO FISHER SCIENTIFIC INC US TMO 309 $168,503.88
3M CO US MMM 50 $6,217.50
TPMT 2016-5 A1 2.50000 10/25/2056 US 112,957.09 $111,826.04
TPMT 2017-1 A1 2.75000 10/25/2056 US 48,341.21 $47,926.30
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 95,917.67 $94,840.27
TRACTOR SUPPLY COMPANY US TSCO 12 $2,221.80
TRAVELLERS COS INC US TRV 26 $4,202.64
TCF 2021-1A 1.86000 03/20/2046 US 593,718.75 $513,353.29
TYSON FOODS INC -CL A US TSN 42 $3,165.96
UDR INC US UDR 764 $34,280.68
U.S. BANCORP US USB 133 $6,066.13
UNILEVER PLC - ADR GB UL 8,563 $388,674.57
UNION PAC CORP US UNP 46 $10,327.46
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 108,554.1 $91,448.68
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,201.32
UNITED PARCEL SERVICE US UPS 829 $161,248.79
TREASURY BOND 2.37500 02/15/2042 US 3,260,000 $2,713,950.00
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 6,630,000 $6,462,696.13
US TREASURY N/B 2.25000 11/15/2025 US 6,695,000 $6,447,598.86
US TREASURY N/B 2.00000 11/15/2026 US 7,575,000 $7,161,925.78
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 6,565,000 $6,491,656.67
US TREASURY N/B 1.37500 11/15/2031 US 1,545,000 $1,327,492.97
VF CORP US VFC 40 $1,658.00
VENTAS INC US VTR 290 $13,879.40
VERTEX PHARMACEUTICALS INC US VRTX 701 $197,513.76
PARAMOUNT GLOBAL CLASS B US PARA 66 $1,543.74
VISA INC - CLASS A SHARES US V 1,885 $374,568.35
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 175,000 $168,759.81
VISTRA OPERATIONS 4.87500 05/13/2024 US 605,000 $598,085.36
WAL MART STORES US WMT 147 $19,484.85
WALGREENS BOOTS ALLIANCE INC US WBA 72 $2,524.32
WASTE MANAGEMENT INC US WM 39 $6,592.17
WELLTOWER INC. US WELL 336 $25,754.40
WIN 2015-1 A1 3.50000 01/20/2045 US 47,419.66 $45,669.32
ZOETIS INC US ZTS 464 $72,629.92
ADMIRAL GROUP PLC GB ADM LN 1,424 $35,028.68
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 700 $4,581.19
UBISOFT ENTERTAINMENT FR UBI FP 478 $22,043.00
DANONE FR BN FP 233 $12,260.53
AIR LIQUIDE FR AI FP 276 $34,586.34
BRENNTAG AG DE BNR GR 288 $18,883.44
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 350,000 $16,042.14
KEYWORDS STUDIOS PLC IE KWS LN 195 $5,620.03
S4 CAPITAL PLC GB SFOR LN 3,707 $5,697.54
HELIOS TOWERS PLC GB HTWS LN 7,212 $10,335.30
AVANZA BANK HOLDING AB SE AZA SS 835 $13,384.24
AMERICAN TANKER INC 7.75000 07/02/2025 US 135,000 $130,514.99
SOFTWAREONE HOLDING AG CH SWON SW 1,049 $13,791.32
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 851 $13,488.35
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 124,000 $126,480.00
FINECOBANK SPA IT FBK IM 2,590 $28,003.85
ALLFUNDS GROUP PLC GB ALLFG NA 778 $6,108.46
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 200,000 $200,554.46
ROTORK PLC GB ROR LN 5,317 $15,253.45
AUTO TRADER GROUP PLC GB AUTO LN 4,645 $35,072.92
CELLNEX TELECOM SA ES CLNX SM 526 $20,483.88
ASSA ABLOY AB-B SE ASSAB SS 1,020 $20,659.05
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,941 $18,881.00
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,204 $19,032.54
ADYEN NV NL ADYEN NA 19 $29,319.76
BANK OF N.T. BUTTERFIELD&SON BM NTB 387 $12,623.94
BUNGE LIMITED US BG 20 $1,983.40
EATON CORP PLC US ETN 41 $5,602.24
JOHNSON CONTROLS INTERNATIONAL US JCI 75 $4,060.50
MEDTRONIC INC IE MDT 2,309 $203,007.28
ROYALTY PHARMA PLC- CL A US RPRX 57 $2,383.17
STONECO LTD-A BR STNE 823 $7,802.04
TRANE TECHNOLOGIES IE TT 19 $2,927.33
ALCON INC CH ALC 2,825 $185,546.00
CHUBB LTD CH CB 36 $6,805.80
GARMIN LTD CH GRMN 27 $2,389.23
TE CONNECTIVITY LIMITED CH TEL 27 $3,407.67
LYONDELLBASELL INDU-CL A US LYB 28 $2,324.00
PLAYA HOTELS AND RESORTS US PLYA 878 $5,759.68
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 186,000 $178,866.62

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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