Investment Objective

To provide long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

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 want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

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

$40.54

Daily $ Change

-$0.37

Daily % Change

-0.91%

as of 09/29/2022

CUSIP

563821123

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 08/31/2022

YTD

-14.22%

1 Year

-13.46%

3 Year

5.45%

5 Year

5.66%

10 Year

6.35%

Inception
(01/01/2000)

6.60%

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 0.91%
Net 0.90%*

*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 12.52%
TREASURY BONDS 9.71%
GOVERNMENT AGENCY 6.06%
AMAZON.COM INC 2.48%
MICROSOFT CORP 1.95%
JOHNSON & JOHNSON 1.68%
MASTERCARD INC-CLASS A 1.62%
META PLATFORMS INC 1.38%
SBA COMMUNICATIONS CORP 1.35%
VISA INC - CLASS A SHARES 1.29%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks 49.60%
Bonds 46.94%
Cash 3.46%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 13.13%
Small Capitalization 0.82%
Mid Capitalization 3.44%
Large Capitalization 32.21%
Long Term Fixed Income 16.27%
Intermediate Term Fixed Income 26.93%
Short Term Fixed Income 3.74%
Cash 3.46%

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 758 $77,808.70
ACTIVISION INC US ATVI 20,725 $1,626,705.25
ADIDAS AG-SPONSORED ADR DE ADDYY 13,865 $1,028,505.70
ADMIRAL GROUP PLC GB AMIGY 57,539 $1,448,832.02
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 740,000 $634,233.29
ADYEN NV UNSPON ADR NL ADYEY 105,912 $1,642,695.12
AGREE REALTY CORP US ADC 1,398 $105,297.36
AIR LIQUIDE-ADR FR AIQUY 86,645 $2,172,190.15
AIR LEASE CORP 3.62500 04/01/2027 US 710,000 $658,702.01
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 108,040.29 $108,775.69
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,400,000 $1,177,365.71
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 410,000 $341,665.37
ALLSTATE CORPORATION US ALL 321 $38,680.50
ALPHABET INC-CL A US GOOGL 25,000 $2,705,500.00
AMAZON.COM INC US AMZN 56,120 $7,114,332.40
AMAZON.COM INC 3.30000 04/13/2027 US 1,400,000 $1,369,798.72
DIAGEO PLC GB DGE LN 6,945 $301,735.21
BAE SYSTEMS PLC GB BA/ LN 27,179 $244,776.80
AMERICAN HOMES 4 RENT- A US AMH 6,982 $248,279.92
AMERICAN TOWER REIT INC US AMT 781 $198,413.05
ANALOG DEVICES INC US ADI 437 $66,218.61
APPLE HOSPITALITY REIT INC US APLE 15,562 $247,591.42
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 110,000 $111,091.28
ARCHER-DANIELS-MIDLAND CO US ADM 500 $43,945.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 600,000 $549,822.92
AUTOMATIC DATA PROCESSING US ADP 313 $76,500.33
AVALONBAY COMMUNITIES INC US AVB 1,183 $237,676.53
BAE SYSTEMS PLC -SPON ADR GB BAESY 40,420 $1,459,162.00
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 640,000 $630,034.34
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,170,000 $976,497.70
BARRICK GOLD CORP CA GOLD 50,093 $743,881.05
BAXTER INTERNATIONAL INC US BAX 386 $22,179.56
BEST BUY INC US BBY 311 $21,984.59
BIOMARIN PHARMACEUTICAL INC US BMRN 22,542 $2,010,746.40
BLACKROCK INC US BLK 2,187 $1,457,394.93
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 610,000 $539,728.16
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,573 $225,388.37
BRANDYWINE REALTY TRUST US BDN 8,785 $70,543.55
BABS 2021-RM2 A 1.75000 10/25/2061 US 635,313.72 $564,258.39
BRISTOL MYERS SQUIBB CO US BMY 1,449 $97,677.09
BROADRIDGE FINANCIAL SOLUTIONS US BR 149 $25,504.33
JONAH ENERGY PARENT LLC US 4,645 $264,346.95
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 690,377.62 $627,373.90
SORT 2020-1 A2 1.99000 07/15/2060 US 563,643.79 $483,206.07
C.H. ROBINSON WORLDWIDE INC US CHRW 203 $23,172.45
CIM 2019-INV1 A1 4.00000 02/25/2049 US 36,391.88 $36,114.38
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 201,361.3 $187,044.68
COTERRA ENERGY INC US CTRA 756 $23,367.96
CAMDEN PROPERTY TRUST US CPT 1,334 $171,432.34
CAMECO CORP CA CCJ 3,731 $108,758.65
CAMPBELL SOUP CO US CPB 446 $22,469.48
CANADIAN NATIONAL RAILWAY CO CA CNI 21,131 $2,512,687.21
CARETRUST REIT INC US CTRE 9,435 $203,229.90
CATERPILLAR INC US CAT 399 $73,699.29
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 8,382 $162,862.26
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,471,000 $1,606,637.76
CHARTER COMMUNICATIONS INC-A US CHTR 5,043 $2,080,893.09
CHEVRON CORP US CVX 732 $115,699.92
CINCINNATI FINANCIAL CORP US CINF 204 $19,779.84
CISCO SYSTEMS INC US CSCO 2,493 $111,486.96
CITIGROUP INC US C 1,522 $74,288.82
CITIGROUP INC 1.46200 06/09/2027 US 1,120,000 $988,583.97
COCA COLA CO/THE US KO 42,912 $2,648,099.52
COLGATE-PALMOLIVE CO US CL 743 $58,110.03
COMCAST CORP-CL A US CMCSA 2,696 $97,568.24
COMMUNITY HEALTHCARE TRUST I US CHCT 2,937 $108,345.93
CONAGRA BRAND INC. US CAG 678 $23,309.64
CONOCOPHILLIPS US COP 680 $74,426.00
CONTROLADORA VUELA CIA DE AV MX VLRS 9,695 $86,091.60
COPART INC US CPRT 13,066 $1,563,346.90
COUSINS PROPERTIES INC US CUZ 6,495 $174,390.75
CAALT 2020-1A 2.01000 02/15/2029 US 246,169.71 $245,778.42
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 860,000 $761,346.39
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 112,841.04 $100,514.27
CUMMINS INC US CMI 163 $35,105.31
KIMBERLY CLARK DE MEXICO S.A.B. MX 190,000 $257,935.62
DEVON ENERGY CORPORATION US DVN 496 $35,027.52
DIAMONDBACK ENERGY INC US FANG 161 $21,458.08
DIGITAL REALTY TRUST INC US DLR 2,432 $300,668.16
DOLLAR TREE STORES INC US DLTR 10,745 $1,457,881.60
DOW INC US DOW 529 $26,979.00
DREYFUS GVT CSH MANAGEMENT US 10,282,258.84 $10,282,258.84
DUKE RLTY INVTS INC US DRE 2,809 $165,309.65
EOG RESOURCES INC US EOG 372 $45,123.60
EASTMAN CHEM CO US EMN 191 $17,381.00
EBAY INC US EBAY 479 $21,138.27
ELECTRONIC ARTS US EA 12,292 $1,559,486.04
EMERSON ELEC CO US EMR 542 $44,303.08
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,610,000 $1,627,393.46
EQUINIX INC US EQIX 3,423 $2,250,177.51
EQUITY LIFESTYLE PROPERTIES US ELS 4,973 $348,607.30
ESSEX PROPERTY TRUST INC US ESS 736 $195,084.16
EXPEDIA GROUP INC 3.25000 02/15/2030 US 700,000 $605,738.32
EXTRA SPACE STORAGE INC US EXR 596 $118,443.08
FMC CORP US FMC 31,267 $3,379,337.36
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 310,000 $311,136.22
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 2,100,000 $2,030,759.64
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 122,941,490.12 $28,818.71
META PLATFORMS INC US META 24,376 $3,971,581.68
FHLM POOL G05906 6.00000 04/01/2040 US 43,615.48 $46,849.82
FHLM POOL G13331 5.50000 10/01/2023 US 279.18 $280.79
FHLM POOL G12988 6.00000 01/01/2023 US 54.31 $54.30
FHLM POOL G13078 6.00000 03/01/2023 US 110.7 $110.74
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 313,902.15 $317,150.36
FHLM POOL C91780 4.50000 07/01/2034 US 391,699.79 $401,891.55
FR SD1129 4.00000 08/01/2051 US 1,571,951.49 $1,552,319.64
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 1,342,989.36 $1,255,459.53
FHLM POOL SD8230 4.50000 06/01/2052 US 903,594.94 $900,498.59
FHLM POOL K91364 4.50000 11/01/2033 US 49,341.77 $50,251.11
FHLM POOL K92059 4.50000 09/01/2034 US 317,704.68 $325,875.02
FNR 2018-31 KP 3.50000 07/25/2047 US 28,744.6 $28,417.92
FHMS K030 X1 FLT 0.25907 04/25/2023 US 40,223,532.29 $25,510.17
FHMS K032 X1 FLT 0.17942 05/25/2023 US 26,688,329.1 $13,630.00
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 77,216.01 $78,980.48
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 1,431,872.04 $1,525,623.42
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 919,387.82 $885,507.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,282,386.09 $1,239,934.24
FN DS2696 3.00000 12/01/2051 US 1,655,000 $1,545,942.90
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 13.29 $13.26
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 293,092.34 $299,813.37
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 120,865.39 $117,610.18
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,415,899.15 $1,290,713.60
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 1,378,001.83 $1,316,900.83
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 1,368,074.3 $1,338,359.59
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 1,364,195.99 $1,347,494.83
FN MA4733 4.50000 09/01/2052 US 1,555,000 $1,548,472.42
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 20,476.8 $22,004.20
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,899.59 $1,929.28
FEDEX CORPORATION US FDX 6,413 $1,351,924.53
FIFTH THIRD BANCORP US FITB 864 $29,505.60
FLX 2021-1A A2 3.25000 11/27/2051 US 1,150,000 $1,050,759.49
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 970,000 $923,756.99
FORD MOTOR CREDIT 3.08700 01/09/2023 US 200,000 $198,433.35
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 523,982.65 $473,798.06
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 652,739.63 $591,355.41
GENERAL DYNAMICS CORP US GD 247 $56,545.71
GENERAL MLS INC US GIS 623 $47,846.40
GENUINE PARTS CO US GPC 193 $30,109.93
GETTY REALTY CORP US GTY 3,801 $114,334.08
GILEAD SCIENCES INC US GILD 1,116 $70,832.52
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 309,108.04 $293,344.04
GRAPHIC PACKAGING HOLDING CO US GPK 68,483 $1,525,116.41
GREENIDGE GEN HLD INC US 7,600 $106,476.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 318 $45,337.26
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 222 $46,946.34
AIRBUS SE FR AIR FP 1,412 $138,366.32
ADIDAS AG DE ADS GR 1,841 $272,989.25
HCA INC 4.12500 06/15/2029 US 1,020,000 $947,611.80
HDFC BANK LTD-ADR IN HDB 3,068 $187,301.40
L'OREAL FR OR FP 183 $62,850.27
HAWAII ST 2.68200 10/01/2038 US 100,000 $78,605.24
HEALTHCARE REALTY TRUST INC US HR 9,460 $230,067.20
HEINEKEN NV-SPN ADR NL HEINY 30,877 $1,386,994.84
HOME DEPOT INC US HD 545 $157,188.90
HONEYWELL INTERNATIONAL INC US HON 466 $88,237.10
HWIRE 2021-1 A2 2.31100 11/20/2051 US 1,080,000 $955,670.29
IIP OPERATING PARTNER 5.50000 05/25/2026 US 320,000 $285,035.71
IDEXX LABORATORIES INC US IDXX 4,304 $1,496,156.48
KERRY GROUP PLC-A IE KYGA ID 1,126 $116,115.06
ILLINOIS TOOL WKS INC US ITW 273 $53,188.59
IMPRL 2021-NQM3 1.59500 11/25/2056 US 626,403.14 $534,620.15
INDEPENDENCE REALTY TRUST IN US IRT 4,182 $81,339.90
INTEL CORP US INTC 2,655 $84,747.60
INTERCONTINENTALEXCHANGE INC US ICE 28,566 $2,880,881.10
INTERNATIONAL FLVRS & FRAGRANCES US IFF 280 $30,934.40
INTUITIVE SURGICAL INC US ISRG 7,152 $1,471,452.48
INVITATION HOMES INC US INVH 8,841 $320,751.48
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $228,312.00
JP MORGAN CHASE & CO US JPM 1,509 $171,618.57
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 254,492.15 $242,910.46
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 1,670,000 $1,624,422.91
JOHNSON & JOHNSON US JNJ 29,816 $4,810,513.44
KREF 2021-FL2 A 3.44971 02/15/2039 US 1,040,000 $1,009,279.34
KEYCORP US KEY 930 $16,451.70
KROGER CO US KR 770 $36,913.80
L3HARRIS TECHNOLOGIES INC US LHX 6,696 $1,527,960.24
BEIERSDORF AG DE BEI GR 2,878 $290,505.39
LENNAR CORP US LEN 270 $20,911.50
LIFE STORAGE INC US LSI 1,699 $216,197.75
LOCKHEED MARTIN CORP US LMT 196 $82,341.56
LULULEMON - ADR CA LULU 6,087 $1,825,856.52
MAGALLANES INC 4.05400 03/15/2029 US 1,720,000 $1,565,505.56
MARATHON PETROLEUM CORP US MPC 391 $39,393.25
MARRIOTT VACATIONS WORLD US VAC 795 $113,223.90
MASTERCARD INC-CLASS A US MA 14,332 $4,648,870.84
MCDONALDS CORP US MCD 338 $85,270.64
MERCADOLIBRE INC BR MELI 316 $270,293.76
MERCK & CO INC US MRK 1,580 $134,868.80
MICROSOFT CORP US MSFT 21,459 $5,610,884.73
MICROCHIP TECHNOLOGY INC US MCHP 451 $29,427.75
MID-AMERICA APARTMENT COMM US MAA 1,410 $233,594.70
MONDELEZ INTERNATIONAL INC US MDLZ 48,384 $2,993,034.24
MOODY'S CORPORATION US MCO 9,085 $2,584,864.20
MOTOROLA SOLUTIONS INC US MSI 170 $41,379.70
NAVIENT CORP 6.75000 06/25/2025 US 355,000 $342,722.45
NESTLE S.A. - ADR CH NSRGY 19,553 $2,288,874.18
NETAPP INC US NTAP 305 $21,999.65
USRE 2021-1 A1 1.91000 10/20/2061 US 1,225,000 $1,064,125.77
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 234,354.3 $224,157.12
NRZT 2015-2A A1 3.75000 08/25/2055 US 388,314.48 $370,115.50
NRZT 2016-4A A1 3.75000 11/25/2056 US 740,728.96 $707,141.86
KEYENCE CORP JP 6861 JP 600 $225,284.44
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 385,000 $372,238.09
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 750,000 $650,819.18
NEWMONT GOLDCORP CORP US NEM 14,953 $618,456.08
NIKE INC CLASS B US NKE 13,212 $1,406,417.40
NORFOLK SOUTHN CORP US NSC 6,231 $1,514,943.03
NIKON CORP JP 7731 JP 10,600 $121,001.36
NORTHROP GRUMMAN CORP US NOC 3,617 $1,728,889.83
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 370,000 $37.00
NOVARTIS AG- REG CH NVS 40,966 $3,298,582.32
NUCOR CORP US NUE 273 $36,292.62
OMNICOM GROUP US OMC 303 $20,270.70
SONY CORP FIRST SECTION JP 6758 JP 2,600 $206,708.60
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 720,000 $644,216.08
OXFIN 2020-1A A2 3.10100 02/15/2028 US 741,980.16 $734,686.42
OXFIN 2022-1A 3.60200 02/15/2030 US 975,000 $915,122.62
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 171,510.26 $164,671.57
PPG INDUSTRIES INC US PPG 184 $23,364.32
PACKAGING CORP OF AMERICA US PKG 141 $19,305.72
PARKER HANNIFIN CORP US PH 102 $27,030.00
DEUTSCHE BOERSE AG DE DB1 GR 1,466 $247,863.23
PAYPAL HOLDINGS INC US PYPL 30,583 $2,857,675.52
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,210,339.81 $1,149,299.83
PELORUS FUND REIT 7.00000 09/30/2026 US 335,000 $311,901.06
NESTLE SA-REGISTERED CH NESN SW 3,785 $442,931.96
PEPSICO INC 3.90000 07/18/2032 US 1,280,000 $1,257,408.45
PFIZER INC US PFE 2,241 $101,360.43
PIONEER NATURAL RESOURCES CO US PXD 161 $40,768.42
POPULAR INC 6.12500 09/14/2023 PR 310,000 $313,969.93
PROCTER & GAMBLE CO US PG 1,209 $166,769.46
PROLOGIS US PLD 7,431 $925,233.81
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 994,679.25 $850,341.82
PFMT 2021-2 A2A 2.00000 04/25/2051 US 596,680.69 $521,394.89
PUBLIC STORAGE INC US PSA 1,309 $433,056.47
QUALCOMM INC US QCOM 765 $101,186.55
QUEST DIAGNOSTICS INC US DGX 180 $22,555.80
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,074,288.46 $916,243.70
RADIUS GLOBAL INFRASTRUCTURE US RADI 27,085 $372,960.45
REGIONS FINANCIAL CORP. US RF 1,212 $26,264.04
REPUBLIC SERVICES INC US RSG 325 $46,384.00
RESTAURANT BRANDS INTERN CA QSR 2,323 $137,057.00
REXFORD INDUSTRIAL REALITY IN US REXR 4,589 $285,481.69
GETINGE AB-B SHS SE GETIB SS 10,987 $203,496.28
ROSS STORES INC US ROST 287 $24,759.49
HEINEKEN NV NL HEIA NA 2,699 $242,583.60
RYANAIR HOLDINGS - ADR IE RYAAY 17,847 $1,297,655.37
S&P GLOBAL INC US SPGI 2,765 $973,777.70
SBA COMMUNICATIONS CORP US SBAC 11,883 $3,864,945.75
NAVIENT CORP 5.50000 01/25/2023 US 165,000 $164,228.27
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 834,390 $713,516.51
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 789,799.28 $732,194.05
SMB 2020-BA A1A 1.29000 07/15/2053 US 768,956.86 $697,031.42
SALESFORCE INC US CRM 18,042 $2,816,717.04
SEA LTD - ADR SG SE 3,280 $203,360.00
SEAGEN INC US SGEN 8,550 $1,319,179.50
SEMT 2013-6 A2 3.00000 05/25/2043 US 299,589.89 $280,068.79
SEMT 2013-7 A2 3.00000 06/25/2043 US 128,472.28 $115,197.14
SEMT 2013-8 A1 3.00000 06/25/2043 US 151,472.81 $141,948.26
SEMT 2013-2 1.87400 02/25/2043 US 124,602.88 $110,278.55
SERVICENOW INC US NOW 7,160 $3,111,879.20
SHOPIFY INC CA SHOP 2,730 $86,404.50
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 2,240,000 $1,875,506.42
SKYWORKS SOLUTIONS INC US SWKS 161 $15,866.55
JM SMUCKER CO/THE-NEW COM WI US SJM 160 $22,398.40
SNOWFLAKE INC-CLASS A US SNOW 7,718 $1,396,572.10
SOFI 2017-F A2FX 2.84000 01/25/2041 US 54,924.14 $53,836.75
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 251,947.87 $246,939.73
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 497,484.23 $473,477.77
SONY CORP SPONSORED ADR JP SONY 18,009 $1,429,014.15
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 1,935,000 $1,737,727.79
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 1,250,000 $1,273,146.69
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 160,000 $159,201.10
STANLEY BLACK & DECKER INC US SWK 151 $13,303.10
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 1,329,512.42 $931,576.28
STEEL DYNAMICS INC US STLD 278 $22,440.16
SUN COMMUNITIES US SUI 2,346 $360,603.66
SYNCHRONOSS TECH US 15,045 $326,777.40
SYNERGY ONE LENDING 5.50000 10/14/2026 US 400,000 $345,388.43
TJX COMPANIES INC US TJX 738 $46,014.30
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,576 $298,059.60
TARGET CORP US TGT 262 $42,009.08
TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,860,000 $2,695,527.81
TERRENO REALTY CORP US TRNO 2,963 $180,713.37
TEXAS INSTRUMENTS INC US TXN 460 $75,996.60
THERMO FISHER SCIENTIFIC INC US TMO 2,889 $1,575,429.48
3M CO US MMM 464 $57,698.40
TPMT 2016-5 A1 2.50000 10/25/2056 US 325,179.49 $321,923.44
TPMT 2017-1 A1 2.75000 10/25/2056 US 166,508.62 $165,079.48
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 325,857.29 $322,197.07
TRACTOR SUPPLY COMPANY US TSCO 113 $20,921.95
TRAVELLERS COS INC US TRV 243 $39,278.52
TAH 2017-SFR2 A 2.92800 01/17/2036 US 702,955.02 $691,457.75
TCF 2021-1A 1.86000 03/20/2046 US 857,593.75 $741,510.31
TYSON FOODS INC -CL A US TSN 396 $29,850.48
UDR INC US UDR 7,207 $323,378.09
U.S. BANCORP US USB 1,263 $57,605.43
UNILEVER PLC - ADR GB UL 71,167 $3,230,270.13
UNION PAC CORP US UNP 434 $97,437.34
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 306,277.64 $258,015.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 57,837.58 $53,917.53
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $200,176.65
UNITED PARCEL SERVICE US UPS 8,203 $1,595,565.53
US TREASURY N/B 3.00000 05/15/2047 US 10,208,000 $9,317,990.00
TREASURY BOND 2.37500 02/15/2042 US 14,735,000 $12,266,887.50
TREASURY BOND 2.25000 11/15/2027 US 6,640,000 $6,301,775.00
US TREASURY N/B 3.12500 11/15/2028 US 17,555,000 $17,372,592.67
US TREASURY N/B 2.00000 11/15/2026 US 6,660,000 $6,296,821.88
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 6,170,000 $6,101,069.56
US TREASURY N/B 1.37500 11/15/2031 US 7,190,000 $6,177,782.81
VF CORP US VFC 379 $15,709.55
VENTAS INC US VTR 2,691 $128,791.26
VERTEX PHARMACEUTICALS INC US VRTX 6,692 $1,885,537.92
PARAMOUNT GLOBAL CLASS B US PARA 626 $14,642.14
VISA INC - CLASS A SHARES US V 18,632 $3,702,364.72
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 315,000 $303,767.66
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,105,000 $1,092,370.78
WAL MART STORES US WMT 1,401 $185,702.55
WALGREENS BOOTS ALLIANCE INC US WBA 697 $24,436.82
WASTE MANAGEMENT INC US WM 363 $61,357.89
WELLTOWER INC. US WELL 3,108 $238,228.20
WIN 2015-1 A1 3.50000 01/20/2045 US 75,081.13 $72,309.76
ZOETIS INC US ZTS 4,052 $634,259.56
ADMIRAL GROUP PLC GB ADM LN 13,787 $339,143.58
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 6,700 $43,848.56
UBISOFT ENTERTAINMENT FR UBI FP 4,301 $198,340.86
DANONE FR BN FP 2,143 $112,765.34
AIR LIQUIDE FR AI FP 3,227 $404,384.49
BRENNTAG AG DE BNR GR 2,726 $178,737.00
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,500,000 $68,752.04
KEYWORDS STUDIOS PLC IE KWS LN 2,187 $63,030.82
S4 CAPITAL PLC GB SFOR LN 107,266 $164,864.47
HELIOS TOWERS PLC GB HTWS LN 66,913 $95,890.99
AVANZA BANK HOLDING AB SE AZA SS 10,342 $165,772.24
AMERICAN TANKER INC 7.75000 07/02/2025 US 380,000 $367,375.51
SOFTWAREONE HOLDING AG CH SWON SW 14,044 $184,638.06
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,887 $125,008.95
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 296,000 $301,920.00
FINECOBANK SPA IT FBK IM 31,717 $342,933.60
ALLFUNDS GROUP PLC GB ALLFG NA 17,548 $137,778.04
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 400,000 $401,108.93
ROTORK PLC GB ROR LN 60,476 $173,494.01
AUTO TRADER GROUP PLC GB AUTO LN 43,844 $331,052.09
CELLNEX TELECOM SA ES CLNX SM 5,001 $194,752.60
ASSA ABLOY AB-B SE ASSAB SS 9,793 $198,347.16
CLEANAWAY WASTE MANAGEMENT AU CWY AU 129,508 $245,975.27
INTERMEDIATE CAPITAL GROUP GB ICP LN 12,338 $195,036.15
ADYEN NV NL ADYEN NA 197 $303,999.58
BANK OF N.T. BUTTERFIELD&SON BM NTB 3,690 $120,367.80
BUNGE LIMITED US BG 197 $19,536.49
EATON CORP PLC US ETN 375 $51,240.00
JOHNSON CONTROLS INTERNATIONAL US JCI 679 $36,761.06
MEDTRONIC INC IE MDT 21,245 $1,867,860.40
ROYALTY PHARMA PLC- CL A US RPRX 557 $23,288.17
STONECO LTD-A BR STNE 13,720 $130,065.60
TRANE TECHNOLOGIES IE TT 180 $27,732.60
ALCON INC CH ALC 26,005 $1,708,008.40
CHUBB LTD CH CB 333 $62,953.65
GARMIN LTD CH GRMN 246 $21,768.54
TE CONNECTIVITY LIMITED CH TEL 247 $31,173.87
LYONDELLBASELL INDU-CL A US LYB 257 $21,331.00
PLAYA HOTELS AND RESORTS US PLYA 8,307 $54,493.92
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 157,089 $151,064.40

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

$40.54

Daily $ Change

-$0.37

Daily % Change

-0.91%

as of 09/29/2022

CUSIP

563821123

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 long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

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 want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

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

-14.22%

1 Year

-13.46%

3 Year

5.45%

5 Year

5.66%

10 Year

6.35%

Inception
(01/01/2000)

6.60%

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 0.91%
Net 0.90%*

*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 12.52%
TREASURY BONDS 9.71%
GOVERNMENT AGENCY 6.06%
AMAZON.COM INC 2.48%
MICROSOFT CORP 1.95%
JOHNSON & JOHNSON 1.68%
MASTERCARD INC-CLASS A 1.62%
META PLATFORMS INC 1.38%
SBA COMMUNICATIONS CORP 1.35%
VISA INC - CLASS A SHARES 1.29%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks
49.60%
Bonds
46.94%
Cash
3.46%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
13.13%
Small Capitalization
0.82%
Mid Capitalization
3.44%
Large Capitalization
32.21%
Long Term Fixed Income
16.27%
Intermediate Term Fixed Income
26.93%
Short Term Fixed Income
3.74%
Cash
3.46%

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 758 $77,808.70
ACTIVISION INC US ATVI 20,725 $1,626,705.25
ADIDAS AG-SPONSORED ADR DE ADDYY 13,865 $1,028,505.70
ADMIRAL GROUP PLC GB AMIGY 57,539 $1,448,832.02
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 740,000 $634,233.29
ADYEN NV UNSPON ADR NL ADYEY 105,912 $1,642,695.12
AGREE REALTY CORP US ADC 1,398 $105,297.36
AIR LIQUIDE-ADR FR AIQUY 86,645 $2,172,190.15
AIR LEASE CORP 3.62500 04/01/2027 US 710,000 $658,702.01
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 108,040.29 $108,775.69
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,400,000 $1,177,365.71
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 410,000 $341,665.37
ALLSTATE CORPORATION US ALL 321 $38,680.50
ALPHABET INC-CL A US GOOGL 25,000 $2,705,500.00
AMAZON.COM INC US AMZN 56,120 $7,114,332.40
AMAZON.COM INC 3.30000 04/13/2027 US 1,400,000 $1,369,798.72
DIAGEO PLC GB DGE LN 6,945 $301,735.21
BAE SYSTEMS PLC GB BA/ LN 27,179 $244,776.80
AMERICAN HOMES 4 RENT- A US AMH 6,982 $248,279.92
AMERICAN TOWER REIT INC US AMT 781 $198,413.05
ANALOG DEVICES INC US ADI 437 $66,218.61
APPLE HOSPITALITY REIT INC US APLE 15,562 $247,591.42
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 110,000 $111,091.28
ARCHER-DANIELS-MIDLAND CO US ADM 500 $43,945.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 600,000 $549,822.92
AUTOMATIC DATA PROCESSING US ADP 313 $76,500.33
AVALONBAY COMMUNITIES INC US AVB 1,183 $237,676.53
BAE SYSTEMS PLC -SPON ADR GB BAESY 40,420 $1,459,162.00
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 640,000 $630,034.34
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,170,000 $976,497.70
BARRICK GOLD CORP CA GOLD 50,093 $743,881.05
BAXTER INTERNATIONAL INC US BAX 386 $22,179.56
BEST BUY INC US BBY 311 $21,984.59
BIOMARIN PHARMACEUTICAL INC US BMRN 22,542 $2,010,746.40
BLACKROCK INC US BLK 2,187 $1,457,394.93
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 610,000 $539,728.16
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,573 $225,388.37
BRANDYWINE REALTY TRUST US BDN 8,785 $70,543.55
BABS 2021-RM2 A 1.75000 10/25/2061 US 635,313.72 $564,258.39
BRISTOL MYERS SQUIBB CO US BMY 1,449 $97,677.09
BROADRIDGE FINANCIAL SOLUTIONS US BR 149 $25,504.33
JONAH ENERGY PARENT LLC US 4,645 $264,346.95
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 690,377.62 $627,373.90
SORT 2020-1 A2 1.99000 07/15/2060 US 563,643.79 $483,206.07
C.H. ROBINSON WORLDWIDE INC US CHRW 203 $23,172.45
CIM 2019-INV1 A1 4.00000 02/25/2049 US 36,391.88 $36,114.38
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 201,361.3 $187,044.68
COTERRA ENERGY INC US CTRA 756 $23,367.96
CAMDEN PROPERTY TRUST US CPT 1,334 $171,432.34
CAMECO CORP CA CCJ 3,731 $108,758.65
CAMPBELL SOUP CO US CPB 446 $22,469.48
CANADIAN NATIONAL RAILWAY CO CA CNI 21,131 $2,512,687.21
CARETRUST REIT INC US CTRE 9,435 $203,229.90
CATERPILLAR INC US CAT 399 $73,699.29
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 8,382 $162,862.26
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,471,000 $1,606,637.76
CHARTER COMMUNICATIONS INC-A US CHTR 5,043 $2,080,893.09
CHEVRON CORP US CVX 732 $115,699.92
CINCINNATI FINANCIAL CORP US CINF 204 $19,779.84
CISCO SYSTEMS INC US CSCO 2,493 $111,486.96
CITIGROUP INC US C 1,522 $74,288.82
CITIGROUP INC 1.46200 06/09/2027 US 1,120,000 $988,583.97
COCA COLA CO/THE US KO 42,912 $2,648,099.52
COLGATE-PALMOLIVE CO US CL 743 $58,110.03
COMCAST CORP-CL A US CMCSA 2,696 $97,568.24
COMMUNITY HEALTHCARE TRUST I US CHCT 2,937 $108,345.93
CONAGRA BRAND INC. US CAG 678 $23,309.64
CONOCOPHILLIPS US COP 680 $74,426.00
CONTROLADORA VUELA CIA DE AV MX VLRS 9,695 $86,091.60
COPART INC US CPRT 13,066 $1,563,346.90
COUSINS PROPERTIES INC US CUZ 6,495 $174,390.75
CAALT 2020-1A 2.01000 02/15/2029 US 246,169.71 $245,778.42
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 860,000 $761,346.39
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 112,841.04 $100,514.27
CUMMINS INC US CMI 163 $35,105.31
KIMBERLY CLARK DE MEXICO S.A.B. MX 190,000 $257,935.62
DEVON ENERGY CORPORATION US DVN 496 $35,027.52
DIAMONDBACK ENERGY INC US FANG 161 $21,458.08
DIGITAL REALTY TRUST INC US DLR 2,432 $300,668.16
DOLLAR TREE STORES INC US DLTR 10,745 $1,457,881.60
DOW INC US DOW 529 $26,979.00
DREYFUS GVT CSH MANAGEMENT US 10,282,258.84 $10,282,258.84
DUKE RLTY INVTS INC US DRE 2,809 $165,309.65
EOG RESOURCES INC US EOG 372 $45,123.60
EASTMAN CHEM CO US EMN 191 $17,381.00
EBAY INC US EBAY 479 $21,138.27
ELECTRONIC ARTS US EA 12,292 $1,559,486.04
EMERSON ELEC CO US EMR 542 $44,303.08
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,610,000 $1,627,393.46
EQUINIX INC US EQIX 3,423 $2,250,177.51
EQUITY LIFESTYLE PROPERTIES US ELS 4,973 $348,607.30
ESSEX PROPERTY TRUST INC US ESS 736 $195,084.16
EXPEDIA GROUP INC 3.25000 02/15/2030 US 700,000 $605,738.32
EXTRA SPACE STORAGE INC US EXR 596 $118,443.08
FMC CORP US FMC 31,267 $3,379,337.36
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 310,000 $311,136.22
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 2,100,000 $2,030,759.64
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 122,941,490.12 $28,818.71
META PLATFORMS INC US META 24,376 $3,971,581.68
FHLM POOL G05906 6.00000 04/01/2040 US 43,615.48 $46,849.82
FHLM POOL G13331 5.50000 10/01/2023 US 279.18 $280.79
FHLM POOL G12988 6.00000 01/01/2023 US 54.31 $54.30
FHLM POOL G13078 6.00000 03/01/2023 US 110.7 $110.74
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 313,902.15 $317,150.36
FHLM POOL C91780 4.50000 07/01/2034 US 391,699.79 $401,891.55
FR SD1129 4.00000 08/01/2051 US 1,571,951.49 $1,552,319.64
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 1,342,989.36 $1,255,459.53
FHLM POOL SD8230 4.50000 06/01/2052 US 903,594.94 $900,498.59
FHLM POOL K91364 4.50000 11/01/2033 US 49,341.77 $50,251.11
FHLM POOL K92059 4.50000 09/01/2034 US 317,704.68 $325,875.02
FNR 2018-31 KP 3.50000 07/25/2047 US 28,744.6 $28,417.92
FHMS K030 X1 FLT 0.25907 04/25/2023 US 40,223,532.29 $25,510.17
FHMS K032 X1 FLT 0.17942 05/25/2023 US 26,688,329.1 $13,630.00
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 77,216.01 $78,980.48
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 1,431,872.04 $1,525,623.42
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 919,387.82 $885,507.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,282,386.09 $1,239,934.24
FN DS2696 3.00000 12/01/2051 US 1,655,000 $1,545,942.90
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 13.29 $13.26
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 293,092.34 $299,813.37
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 120,865.39 $117,610.18
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,415,899.15 $1,290,713.60
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 1,378,001.83 $1,316,900.83
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 1,368,074.3 $1,338,359.59
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 1,364,195.99 $1,347,494.83
FN MA4733 4.50000 09/01/2052 US 1,555,000 $1,548,472.42
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 20,476.8 $22,004.20
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,899.59 $1,929.28
FEDEX CORPORATION US FDX 6,413 $1,351,924.53
FIFTH THIRD BANCORP US FITB 864 $29,505.60
FLX 2021-1A A2 3.25000 11/27/2051 US 1,150,000 $1,050,759.49
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 970,000 $923,756.99
FORD MOTOR CREDIT 3.08700 01/09/2023 US 200,000 $198,433.35
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 523,982.65 $473,798.06
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 652,739.63 $591,355.41
GENERAL DYNAMICS CORP US GD 247 $56,545.71
GENERAL MLS INC US GIS 623 $47,846.40
GENUINE PARTS CO US GPC 193 $30,109.93
GETTY REALTY CORP US GTY 3,801 $114,334.08
GILEAD SCIENCES INC US GILD 1,116 $70,832.52
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 309,108.04 $293,344.04
GRAPHIC PACKAGING HOLDING CO US GPK 68,483 $1,525,116.41
GREENIDGE GEN HLD INC US 7,600 $106,476.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 318 $45,337.26
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 222 $46,946.34
AIRBUS SE FR AIR FP 1,412 $138,366.32
ADIDAS AG DE ADS GR 1,841 $272,989.25
HCA INC 4.12500 06/15/2029 US 1,020,000 $947,611.80
HDFC BANK LTD-ADR IN HDB 3,068 $187,301.40
L'OREAL FR OR FP 183 $62,850.27
HAWAII ST 2.68200 10/01/2038 US 100,000 $78,605.24
HEALTHCARE REALTY TRUST INC US HR 9,460 $230,067.20
HEINEKEN NV-SPN ADR NL HEINY 30,877 $1,386,994.84
HOME DEPOT INC US HD 545 $157,188.90
HONEYWELL INTERNATIONAL INC US HON 466 $88,237.10
HWIRE 2021-1 A2 2.31100 11/20/2051 US 1,080,000 $955,670.29
IIP OPERATING PARTNER 5.50000 05/25/2026 US 320,000 $285,035.71
IDEXX LABORATORIES INC US IDXX 4,304 $1,496,156.48
KERRY GROUP PLC-A IE KYGA ID 1,126 $116,115.06
ILLINOIS TOOL WKS INC US ITW 273 $53,188.59
IMPRL 2021-NQM3 1.59500 11/25/2056 US 626,403.14 $534,620.15
INDEPENDENCE REALTY TRUST IN US IRT 4,182 $81,339.90
INTEL CORP US INTC 2,655 $84,747.60
INTERCONTINENTALEXCHANGE INC US ICE 28,566 $2,880,881.10
INTERNATIONAL FLVRS & FRAGRANCES US IFF 280 $30,934.40
INTUITIVE SURGICAL INC US ISRG 7,152 $1,471,452.48
INVITATION HOMES INC US INVH 8,841 $320,751.48
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $228,312.00
JP MORGAN CHASE & CO US JPM 1,509 $171,618.57
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 254,492.15 $242,910.46
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 1,670,000 $1,624,422.91
JOHNSON & JOHNSON US JNJ 29,816 $4,810,513.44
KREF 2021-FL2 A 3.44971 02/15/2039 US 1,040,000 $1,009,279.34
KEYCORP US KEY 930 $16,451.70
KROGER CO US KR 770 $36,913.80
L3HARRIS TECHNOLOGIES INC US LHX 6,696 $1,527,960.24
BEIERSDORF AG DE BEI GR 2,878 $290,505.39
LENNAR CORP US LEN 270 $20,911.50
LIFE STORAGE INC US LSI 1,699 $216,197.75
LOCKHEED MARTIN CORP US LMT 196 $82,341.56
LULULEMON - ADR CA LULU 6,087 $1,825,856.52
MAGALLANES INC 4.05400 03/15/2029 US 1,720,000 $1,565,505.56
MARATHON PETROLEUM CORP US MPC 391 $39,393.25
MARRIOTT VACATIONS WORLD US VAC 795 $113,223.90
MASTERCARD INC-CLASS A US MA 14,332 $4,648,870.84
MCDONALDS CORP US MCD 338 $85,270.64
MERCADOLIBRE INC BR MELI 316 $270,293.76
MERCK & CO INC US MRK 1,580 $134,868.80
MICROSOFT CORP US MSFT 21,459 $5,610,884.73
MICROCHIP TECHNOLOGY INC US MCHP 451 $29,427.75
MID-AMERICA APARTMENT COMM US MAA 1,410 $233,594.70
MONDELEZ INTERNATIONAL INC US MDLZ 48,384 $2,993,034.24
MOODY'S CORPORATION US MCO 9,085 $2,584,864.20
MOTOROLA SOLUTIONS INC US MSI 170 $41,379.70
NAVIENT CORP 6.75000 06/25/2025 US 355,000 $342,722.45
NESTLE S.A. - ADR CH NSRGY 19,553 $2,288,874.18
NETAPP INC US NTAP 305 $21,999.65
USRE 2021-1 A1 1.91000 10/20/2061 US 1,225,000 $1,064,125.77
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 234,354.3 $224,157.12
NRZT 2015-2A A1 3.75000 08/25/2055 US 388,314.48 $370,115.50
NRZT 2016-4A A1 3.75000 11/25/2056 US 740,728.96 $707,141.86
KEYENCE CORP JP 6861 JP 600 $225,284.44
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 385,000 $372,238.09
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 750,000 $650,819.18
NEWMONT GOLDCORP CORP US NEM 14,953 $618,456.08
NIKE INC CLASS B US NKE 13,212 $1,406,417.40
NORFOLK SOUTHN CORP US NSC 6,231 $1,514,943.03
NIKON CORP JP 7731 JP 10,600 $121,001.36
NORTHROP GRUMMAN CORP US NOC 3,617 $1,728,889.83
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 370,000 $37.00
NOVARTIS AG- REG CH NVS 40,966 $3,298,582.32
NUCOR CORP US NUE 273 $36,292.62
OMNICOM GROUP US OMC 303 $20,270.70
SONY CORP FIRST SECTION JP 6758 JP 2,600 $206,708.60
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 720,000 $644,216.08
OXFIN 2020-1A A2 3.10100 02/15/2028 US 741,980.16 $734,686.42
OXFIN 2022-1A 3.60200 02/15/2030 US 975,000 $915,122.62
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 171,510.26 $164,671.57
PPG INDUSTRIES INC US PPG 184 $23,364.32
PACKAGING CORP OF AMERICA US PKG 141 $19,305.72
PARKER HANNIFIN CORP US PH 102 $27,030.00
DEUTSCHE BOERSE AG DE DB1 GR 1,466 $247,863.23
PAYPAL HOLDINGS INC US PYPL 30,583 $2,857,675.52
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,210,339.81 $1,149,299.83
PELORUS FUND REIT 7.00000 09/30/2026 US 335,000 $311,901.06
NESTLE SA-REGISTERED CH NESN SW 3,785 $442,931.96
PEPSICO INC 3.90000 07/18/2032 US 1,280,000 $1,257,408.45
PFIZER INC US PFE 2,241 $101,360.43
PIONEER NATURAL RESOURCES CO US PXD 161 $40,768.42
POPULAR INC 6.12500 09/14/2023 PR 310,000 $313,969.93
PROCTER & GAMBLE CO US PG 1,209 $166,769.46
PROLOGIS US PLD 7,431 $925,233.81
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 994,679.25 $850,341.82
PFMT 2021-2 A2A 2.00000 04/25/2051 US 596,680.69 $521,394.89
PUBLIC STORAGE INC US PSA 1,309 $433,056.47
QUALCOMM INC US QCOM 765 $101,186.55
QUEST DIAGNOSTICS INC US DGX 180 $22,555.80
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,074,288.46 $916,243.70
RADIUS GLOBAL INFRASTRUCTURE US RADI 27,085 $372,960.45
REGIONS FINANCIAL CORP. US RF 1,212 $26,264.04
REPUBLIC SERVICES INC US RSG 325 $46,384.00
RESTAURANT BRANDS INTERN CA QSR 2,323 $137,057.00
REXFORD INDUSTRIAL REALITY IN US REXR 4,589 $285,481.69
GETINGE AB-B SHS SE GETIB SS 10,987 $203,496.28
ROSS STORES INC US ROST 287 $24,759.49
HEINEKEN NV NL HEIA NA 2,699 $242,583.60
RYANAIR HOLDINGS - ADR IE RYAAY 17,847 $1,297,655.37
S&P GLOBAL INC US SPGI 2,765 $973,777.70
SBA COMMUNICATIONS CORP US SBAC 11,883 $3,864,945.75
NAVIENT CORP 5.50000 01/25/2023 US 165,000 $164,228.27
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 834,390 $713,516.51
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 789,799.28 $732,194.05
SMB 2020-BA A1A 1.29000 07/15/2053 US 768,956.86 $697,031.42
SALESFORCE INC US CRM 18,042 $2,816,717.04
SEA LTD - ADR SG SE 3,280 $203,360.00
SEAGEN INC US SGEN 8,550 $1,319,179.50
SEMT 2013-6 A2 3.00000 05/25/2043 US 299,589.89 $280,068.79
SEMT 2013-7 A2 3.00000 06/25/2043 US 128,472.28 $115,197.14
SEMT 2013-8 A1 3.00000 06/25/2043 US 151,472.81 $141,948.26
SEMT 2013-2 1.87400 02/25/2043 US 124,602.88 $110,278.55
SERVICENOW INC US NOW 7,160 $3,111,879.20
SHOPIFY INC CA SHOP 2,730 $86,404.50
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 2,240,000 $1,875,506.42
SKYWORKS SOLUTIONS INC US SWKS 161 $15,866.55
JM SMUCKER CO/THE-NEW COM WI US SJM 160 $22,398.40
SNOWFLAKE INC-CLASS A US SNOW 7,718 $1,396,572.10
SOFI 2017-F A2FX 2.84000 01/25/2041 US 54,924.14 $53,836.75
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 251,947.87 $246,939.73
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 497,484.23 $473,477.77
SONY CORP SPONSORED ADR JP SONY 18,009 $1,429,014.15
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 1,935,000 $1,737,727.79
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 1,250,000 $1,273,146.69
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 160,000 $159,201.10
STANLEY BLACK & DECKER INC US SWK 151 $13,303.10
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 1,329,512.42 $931,576.28
STEEL DYNAMICS INC US STLD 278 $22,440.16
SUN COMMUNITIES US SUI 2,346 $360,603.66
SYNCHRONOSS TECH US 15,045 $326,777.40
SYNERGY ONE LENDING 5.50000 10/14/2026 US 400,000 $345,388.43
TJX COMPANIES INC US TJX 738 $46,014.30
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,576 $298,059.60
TARGET CORP US TGT 262 $42,009.08
TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,860,000 $2,695,527.81
TERRENO REALTY CORP US TRNO 2,963 $180,713.37
TEXAS INSTRUMENTS INC US TXN 460 $75,996.60
THERMO FISHER SCIENTIFIC INC US TMO 2,889 $1,575,429.48
3M CO US MMM 464 $57,698.40
TPMT 2016-5 A1 2.50000 10/25/2056 US 325,179.49 $321,923.44
TPMT 2017-1 A1 2.75000 10/25/2056 US 166,508.62 $165,079.48
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 325,857.29 $322,197.07
TRACTOR SUPPLY COMPANY US TSCO 113 $20,921.95
TRAVELLERS COS INC US TRV 243 $39,278.52
TAH 2017-SFR2 A 2.92800 01/17/2036 US 702,955.02 $691,457.75
TCF 2021-1A 1.86000 03/20/2046 US 857,593.75 $741,510.31
TYSON FOODS INC -CL A US TSN 396 $29,850.48
UDR INC US UDR 7,207 $323,378.09
U.S. BANCORP US USB 1,263 $57,605.43
UNILEVER PLC - ADR GB UL 71,167 $3,230,270.13
UNION PAC CORP US UNP 434 $97,437.34
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 306,277.64 $258,015.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 57,837.58 $53,917.53
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $200,176.65
UNITED PARCEL SERVICE US UPS 8,203 $1,595,565.53
US TREASURY N/B 3.00000 05/15/2047 US 10,208,000 $9,317,990.00
TREASURY BOND 2.37500 02/15/2042 US 14,735,000 $12,266,887.50
TREASURY BOND 2.25000 11/15/2027 US 6,640,000 $6,301,775.00
US TREASURY N/B 3.12500 11/15/2028 US 17,555,000 $17,372,592.67
US TREASURY N/B 2.00000 11/15/2026 US 6,660,000 $6,296,821.88
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 6,170,000 $6,101,069.56
US TREASURY N/B 1.37500 11/15/2031 US 7,190,000 $6,177,782.81
VF CORP US VFC 379 $15,709.55
VENTAS INC US VTR 2,691 $128,791.26
VERTEX PHARMACEUTICALS INC US VRTX 6,692 $1,885,537.92
PARAMOUNT GLOBAL CLASS B US PARA 626 $14,642.14
VISA INC - CLASS A SHARES US V 18,632 $3,702,364.72
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 315,000 $303,767.66
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,105,000 $1,092,370.78
WAL MART STORES US WMT 1,401 $185,702.55
WALGREENS BOOTS ALLIANCE INC US WBA 697 $24,436.82
WASTE MANAGEMENT INC US WM 363 $61,357.89
WELLTOWER INC. US WELL 3,108 $238,228.20
WIN 2015-1 A1 3.50000 01/20/2045 US 75,081.13 $72,309.76
ZOETIS INC US ZTS 4,052 $634,259.56
ADMIRAL GROUP PLC GB ADM LN 13,787 $339,143.58
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 6,700 $43,848.56
UBISOFT ENTERTAINMENT FR UBI FP 4,301 $198,340.86
DANONE FR BN FP 2,143 $112,765.34
AIR LIQUIDE FR AI FP 3,227 $404,384.49
BRENNTAG AG DE BNR GR 2,726 $178,737.00
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,500,000 $68,752.04
KEYWORDS STUDIOS PLC IE KWS LN 2,187 $63,030.82
S4 CAPITAL PLC GB SFOR LN 107,266 $164,864.47
HELIOS TOWERS PLC GB HTWS LN 66,913 $95,890.99
AVANZA BANK HOLDING AB SE AZA SS 10,342 $165,772.24
AMERICAN TANKER INC 7.75000 07/02/2025 US 380,000 $367,375.51
SOFTWAREONE HOLDING AG CH SWON SW 14,044 $184,638.06
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,887 $125,008.95
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 296,000 $301,920.00
FINECOBANK SPA IT FBK IM 31,717 $342,933.60
ALLFUNDS GROUP PLC GB ALLFG NA 17,548 $137,778.04
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 400,000 $401,108.93
ROTORK PLC GB ROR LN 60,476 $173,494.01
AUTO TRADER GROUP PLC GB AUTO LN 43,844 $331,052.09
CELLNEX TELECOM SA ES CLNX SM 5,001 $194,752.60
ASSA ABLOY AB-B SE ASSAB SS 9,793 $198,347.16
CLEANAWAY WASTE MANAGEMENT AU CWY AU 129,508 $245,975.27
INTERMEDIATE CAPITAL GROUP GB ICP LN 12,338 $195,036.15
ADYEN NV NL ADYEN NA 197 $303,999.58
BANK OF N.T. BUTTERFIELD&SON BM NTB 3,690 $120,367.80
BUNGE LIMITED US BG 197 $19,536.49
EATON CORP PLC US ETN 375 $51,240.00
JOHNSON CONTROLS INTERNATIONAL US JCI 679 $36,761.06
MEDTRONIC INC IE MDT 21,245 $1,867,860.40
ROYALTY PHARMA PLC- CL A US RPRX 557 $23,288.17
STONECO LTD-A BR STNE 13,720 $130,065.60
TRANE TECHNOLOGIES IE TT 180 $27,732.60
ALCON INC CH ALC 26,005 $1,708,008.40
CHUBB LTD CH CB 333 $62,953.65
GARMIN LTD CH GRMN 246 $21,768.54
TE CONNECTIVITY LIMITED CH TEL 247 $31,173.87
LYONDELLBASELL INDU-CL A US LYB 257 $21,331.00
PLAYA HOTELS AND RESORTS US PLYA 8,307 $54,493.92
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 157,089 $151,064.40

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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