Collective Investment Trust

Pro-Mix® Maximum Term CIT

Investment Objective

To provide long-term capital growth.

Investment Strategy

The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in 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 seek long-term capital growth and generally have the time to withstand market volatility
  • Who have a very 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 15+ Years 7-20 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.

Learn more about our Pro-Mix® Series

Daily Price

$55.13

Daily $ Change

-$0.52

Daily % Change

-0.94%

as of 06/07/2023

CUSIP

563821115

Inception Date

01/01/2000

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Performance

As of 05/31/2023

YTD

8.58%

1 Year

1.03%

3 Year

7.79%

5 Year

8.01%

10 Year

8.32%

Inception
(01/01/2000)

7.45%

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.

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

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 05/31/2023

TREASURY NOTES 10.45%
AMAZON.COM INC 3.01%
META PLATFORMS INC 2.73%
JOHNSON & JOHNSON 2.56%
SERVICENOW INC 2.33%
ALPHABET INC-CL A 2.26%
VISA INC - CLASS A SHARES 2.18%
MASTERCARD INC-CLASS A 2.10%
ELECTRONIC ARTS 2.02%
MICRON TECHNOLOGY INC 1.94%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
81.81%
Bonds
15.07%
Cash
3.12%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
20.52%
Small Capitalization
0.24%
Mid Capitalization
7.03%
Large Capitalization
54.03%
Long Term Fixed Income
1.76%
Intermediate Term Fixed Income
11.75%
Short Term Fixed Income
1.55%
Cash
3.12%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 857 $79,966.67
ABBOTT LABORATORIES US ABT 1,611 $164,322.00
ADMIRAL GROUP PLC GB AMIGY 53,545 $1,547,985.95
ADMIRAL GROUP PLC GB ADM LN 18,082 $523,778.24
ADVANCED MICRO DEVICES INC US AMD 17,740 $2,097,045.40
ADYEN NV NL ADYEN NA 98 $160,508.53
AGREE REALTY CORP US ADC 2,723 $175,606.27
AIR LIQUIDE FR AI FP 2,446 $409,834.02
AIR LIQUIDE-ADR FR AIQUY 84,727 $2,840,049.04
AIRBUS SE FR AIR FP 2,071 $271,974.68
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 38,445.28 $38,970.71
ALCON INC CH ALC 48,275 $3,736,002.25
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 250,000 $205,350.87
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 470,000 $398,095.80
ALPHABET INC-CL A US GOOGL 65,765 $8,080,545.55
AMAZON.COM INC US AMZN 89,160 $10,750,912.80
AMAZON.COM INC 3.30000 04/13/2027 US 440,000 $424,328.74
AMERICAN HOMES 4 RENT- A US AMH 2,035 $69,759.80
AMERICAN TANKER INC 7.75000 07/02/2025 US 170,000 $163,371.81
AMERICAN TOWER REIT INC US AMT 671 $123,759.24
AMERICOLD REALTY TRUST US COLD 5,895 $172,723.50
ANALOG DEVICES INC US ADI 783 $139,131.27
APARTMENT INCOME REIT CO US AIRC 1,936 $67,159.84
APPLIED MATERIALS INC US AMAT 32,888 $4,383,970.40
ARCHER-DANIELS-MIDLAND CO US ADM 957 $67,612.05
ARGO BLOCKCHAIN PLC GB 3,600 $21,600.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 200,000 $185,316.12
ASTRAZENECA GB AZN 67,540 $4,935,823.20
ATLASSIAN CORP PLC-CLASS A AU TEAM 897 $162,168.63
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 23,866 $127,559.44
AUTO TRADER GROUP PLC GB AUTO LN 60,815 $477,277.54
AVALONBAY COMMUNITIES INC US AVB 629 $109,433.42
AVANZA BANK HOLDING AB SE AZA SS 9,111 $189,188.72
BAE SYSTEMS PLC GB BA/ LN 39,538 $456,962.29
BAE SYSTEMS PLC -SPON ADR GB BAESY 59,248 $2,784,063.52
BANK OF AMERICA CORP US BAC 6,043 $167,934.97
BANK OF AMERICA CORP 2.68700 04/22/2032 US 360,000 $297,367.55
BARRICK GOLD CORP CA GOLD 67,044 $1,131,702.72
BAXTER INTERNATIONAL INC US BAX 930 $37,869.60
BEIERSDORF AG DE BEI GR 2,691 $343,397.52
BIOMARIN PHARMACEUTICAL INC US BMRN 48,485 $4,215,285.90
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 190,000 $182,589.39
BOSTON SCIENTIFIC CORP US BSX 47,580 $2,449,418.40
BRANDYWINE REALTY TRUST US BDN 6,290 $24,531.00
BRISTOL MYERS SQUIBB CO US BMY 2,449 $157,813.56
BROADCOM INC US AVGO 302 $244,003.92
BROADRIDGE FINANCIAL SOLUTIONS US BR 285 $41,815.20
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 172,000 $147,775.22
BUNGE LIMITED US BG 371 $34,369.44
C.H. ROBINSON WORLDWIDE INC US CHRW 370 $34,979.80
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 170,000 $172,218.50
CAMPBELL SOUP CO US CPB 800 $40,440.00
CANADIAN NATIONAL RAILWAY CO CA CNI 15,345 $1,729,841.85
CARETRUST REIT INC US CTRE 5,384 $104,449.60
CATERPILLAR INC US CAT 760 $156,370.00
CBOE GLOBAL MARKETS INC US CBOE 35,700 $4,727,394.00
CELLNEX TELECOM SA ES CLNX SM 5,117 $207,368.86
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 153,779 $3,109,411.38
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 187,000 $195,760.76
CHEVRON CORP US CVX 1,498 $225,628.76
CISCO SYSTEMS INC US CSCO 4,456 $221,329.52
CITIGROUP INC US C 2,719 $120,506.08
CITIGROUP INC 1.46200 06/09/2027 US 340,000 $303,090.25
CLARK CNTY NV 1.51000 11/01/2028 US 350,000 $299,918.00
CLEANAWAY WASTE MANAGEMENT AU CWY AU 144,710 $244,517.99
COCA COLA CO/THE US KO 105,301 $6,282,257.66
COGNIZANT TECH SOLUTIONS - A US CTSH 748 $46,742.52
COLGATE-PALMOLIVE CO US CL 1,316 $97,884.08
COMCAST CORP-CL A US CMCSA 4,708 $185,259.80
COMMUNITY HEALTHCARE TRUST I US CHCT 2,543 $83,410.40
CONAGRA BRAND INC. US CAG 1,178 $41,076.86
CONOCOPHILLIPS US COP 1,292 $128,295.60
CONSTELLATION BRANDS INC-A US STZ 18,472 $4,488,141.84
COPART INC US CPRT 26,350 $2,307,996.50
CORNING INC US GLW 1,276 $39,313.56
COTERRA ENERGY INC US CTRA 1,544 $35,898.00
COUSINS PROPERTIES INC US CUZ 4,554 $90,715.68
CSX CORP US CSX 51,932 $1,592,754.44
CUMMINS INC US CMI 319 $65,206.79
CVS HEALTH CORP US CVS 25,888 $1,761,160.64
DANONE FR BN FP 2,470 $146,196.63
DEUTSCHE BOERSE AG DE DB1 GR 2,298 $397,470.77
DEUTSCHE BOERSE AG ADR DE DBOEY 140,706 $2,427,178.50
DEVON ENERGY CORPORATION US DVN 1,060 $48,866.00
DIAGEO PLC GB DGE LN 7,305 $303,687.48
DIAMONDBACK ENERGY INC US FANG 328 $41,705.20
DIGITAL REALTY TRUST INC US DLR 554 $56,762.84
DOLLAR GENERAL CORP US DG 12,274 $2,468,178.66
DOLLAR TREE STORES INC US DLTR 25,438 $3,431,077.44
DOMINO'S PIZZA US DPZ 4,720 $1,368,092.00
DOW INC US DOW 1,102 $53,755.56
DREYFUS GVT CSH MANAGEMENT US 11,495,458.69 $11,495,458.69
EBAY INC US EBAY 1,018 $43,305.72
ELECTRONIC ARTS US EA 56,286 $7,204,608.00
EMERSON ELEC CO US EMR 1,025 $79,622.00
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 460,000 $458,826.22
EOG RESOURCES INC US EOG 757 $81,218.53
EQUINIX INC US EQIX 6,589 $4,912,428.95
EQUITY COMMONWEALTH US EQC 4,399 $89,959.55
EQUITY LIFESTYLE PROPERTIES US ELS 2,712 $171,317.04
ESSEX PROPERTY TRUST INC US ESS 251 $54,231.06
EVERGY INC US EVRG 35,889 $2,076,178.65
EXTRA SPACE STORAGE INC US EXR 272 $39,241.44
EXXON MOBIL CORP US XOM 2,401 $245,334.18
FEDEX CORPORATION US FDX 292 $63,650.16
FIFTH THIRD BANCORP US FITB 1,508 $36,599.16
FINECOBANK SPA IT FBK IM 17,401 $232,445.49
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,887 $73,598.22
FMC CORP US FMC 51,989 $5,411,015.12
GENERAL DYNAMICS CORP US GD 448 $91,472.64
GENERAL MLS INC US GIS 1,088 $91,566.08
GENUINE PARTS CO US GPC 346 $51,529.78
GETTY REALTY CORP US GTY 3,777 $129,437.79
GILEAD SCIENCES INC US GILD 1,807 $139,030.58
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 105,000 $98,189.26
GREENIDGE GEN HLD INC US 3,400 $16,150.00
HALLIBURTON CO US HAL 1,356 $38,849.40
HARTFORD FINL SVCS US HIG 503 $34,465.56
HDFC BANK LTD-ADR IN HDB 47,229 $3,041,547.60
HEALTHCARE REALTY TRUST INC US HR 8,576 $159,599.36
HEINEKEN NV NL HEIA NA 3,885 $393,078.33
HEINEKEN NV-SPN ADR NL HEINY 48,134 $2,432,692.36
HELIOS TOWERS PLC GB HTWS LN 46,379 $52,241.04
HOME DEPOT INC US HD 986 $279,481.70
HONEYWELL INTERNATIONAL INC US HON 883 $169,182.80
HUMANA INC US HUM 7,655 $3,841,814.85
HUNTINGTON BANCSHARES US HBAN 2,543 $26,218.33
IDEXX LABORATORIES INC US IDXX 7,307 $3,396,074.39
IMCD NV NL IMCD NA 859 $129,483.67
INTERCONTINENTALEXCHANGE INC US ICE 26,950 $2,855,352.50
INTERMEDIATE CAPITAL GROUP GB ICP LN 8,851 $153,625.77
INTERNATIONAL BUSINESS MACH CORP US IBM 847 $108,915.73
INTERNATIONAL FLVRS & FRAGRANCES US IFF 485 $37,485.65
INTUIT INC US INTU 11,147 $4,671,930.64
INTUITIVE SURGICAL INC US ISRG 12,254 $3,772,271.36
INVITATION HOMES INC US INVH 4,859 $164,622.92
JM SMUCKER CO/THE-NEW COM WI US SJM 283 $41,484.97
JOHNSON & JOHNSON US JNJ 58,877 $9,129,467.62
JP MORGAN CHASE & CO US JPM 18,029 $2,446,715.59
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 510,000 $492,301.39
KELLOGG CO US K 542 $36,189.34
KEYENCE CORP JP 6861 JP 500 $242,388.95
KEYWORDS STUDIOS PLC IE KWS LN 3,821 $92,448.44
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 174,800 $357,228.79
KRAFT HEINZ CO/THE US KHC 1,518 $58,017.96
L'OREAL FR OR FP 161 $68,931.55
L3HARRIS TECHNOLOGIES INC US LHX 32,153 $5,656,355.76
LEXINGTON REALTY TRUST US LXP 11,222 $116,035.48
LIFE STORAGE INC US LSI 1,139 $145,097.21
LINDE PLC IE LIN 5,102 $1,804,373.32
LOCKHEED MARTIN CORP US LMT 341 $151,407.41
LULULEMON - ADR CA LULU 13,490 $4,477,735.70
MARATHON OIL CORP US MRO 1,148 $25,439.68
MARATHON PETROLEUM CORP US MPC 709 $74,381.19
MASCO CORP US MAS 110,943 $5,360,765.76
MASTERCARD INC-CLASS A US MA 20,497 $7,481,814.94
MEDTRONIC INC IE MDT 78,579 $6,503,198.04
MEITUAN DIANPING - CLASS B CN 3690 HK 100 $1,404.13
MERCADOLIBRE INC BR MELI 2,162 $2,678,718.00
MERCK & CO INC US MRK 2,570 $283,753.70
META PLATFORMS INC US META 36,785 $9,737,725.20
MICROCHIP TECHNOLOGY INC US MCHP 872 $65,626.72
MICRON TECHNOLOGY INC US MU 101,337 $6,911,183.40
MICROSOFT CORP US MSFT 18,598 $6,107,397.22
MID-AMERICA APARTMENT COMM US MAA 954 $140,295.24
MONARCH CASINO & RESORT INC US MCRI 865 $56,129.85
MONDELEZ INTERNATIONAL INC US MDLZ 60,532 $4,443,654.12
MOODY'S CORPORATION US MCO 20,614 $6,532,164.32
NAVIENT CORP 6.75000 06/25/2025 US 185,000 $180,012.46
NESTLE S.A. - ADR CH NSRGY 35,610 $4,227,975.30
NESTLE SA-REGISTERED CH NESN SW 3,725 $441,547.73
NETAPP INC US NTAP 571 $37,885.85
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 210,000 $188,920.76
NEWMONT GOLDCORP CORP US NEM 19,496 $790,562.80
NIKE INC CLASS B US NKE 19,528 $2,055,517.28
NORFOLK SOUTHN CORP US NSC 7,695 $1,601,945.10
NORTHROP GRUMMAN CORP US NOC 10,339 $4,502,531.11
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 145,000 $14.50
NOVARTIS AG- REG CH NVS 28,899 $2,781,528.75
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 200,000 $201,000.00
OMNICOM GROUP US OMC 522 $46,035.18
PACKAGING CORP OF AMERICA US PKG 243 $30,139.29
PARAMOUNT GLOBAL CLASS B US PARA 1,430 $21,750.30
PELORUS FUND REIT 7.00000 09/30/2026 US 190,000 $178,001.04
PEPSICO INC 3.90000 07/18/2032 US 370,000 $357,345.59
PFIZER INC US PFE 4,840 $184,016.80
PHILLIPS 66 US PSX 562 $51,484.82
POPULAR INC 6.12500 09/14/2023 PR 160,000 $159,200.00
PPG INDUSTRIES INC US PPG 394 $51,728.26
PROLOGIS US PLD 6,014 $749,043.70
PUBLIC STORAGE INC US PSA 893 $252,986.90
QUALCOMM 5.40000 05/20/2033 US 390,000 $407,818.95
QUALCOMM INC US QCOM 1,436 $162,856.76
QUEST DIAGNOSTICS INC US DGX 305 $40,458.25
RAYTHEON TECHNOLOGIES CORP US RTX 1,295 $119,321.30
REALTY INCOME CORP US O 2,419 $143,785.36
REGIONS FINANCIAL CORP. US RF 2,279 $39,358.33
RENAISSANCERE HOLDINGS LTD BM RNR 1,331 $250,720.47
RENTOKIL INITIAL PLC GB RTO LN 40,495 $322,120.67
RENTOKIL INITIAL PLC-SP ADR GB RTO 80,002 $3,178,479.46
RESTAURANT BRANDS INTERN CA QSR 3,037 $221,427.67
REXFORD INDUSTRIAL REALITY IN US REXR 2,898 $157,767.12
S&P GLOBAL INC US SPGI 12,856 $4,723,680.08
SALESFORCE INC US CRM 24,868 $5,555,013.84
SBA COMMUNICATIONS CORP US SBAC 12,161 $2,697,066.58
SBA TOWER TRUST 6.59900 01/15/2028 US 315,000 $325,970.57
SCHLUMBERGER LTD NL SLB 1,602 $68,613.66
SERVICENOW INC US NOW 15,291 $8,330,230.98
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 630,000 $511,897.32
SKYWORKS SOLUTIONS INC US SWKS 338 $34,986.38
SNOWFLAKE INC-CLASS A US SNOW 32,296 $5,340,466.56
SONY CORP FIRST SECTION JP 6758 JP 4,100 $384,499.58
SONY CORP SPONSORED ADR JP SONY 36,709 $3,439,633.30
STAG INDUSTRIAL INC US STAG 2,231 $77,638.80
SUN COMMUNITIES US SUI 1,802 $228,187.26
SYNCHRONOSS TECH US 4,559 $84,341.50
SYSCO CORP US SYY 682 $47,705.90
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 42,450 $4,185,145.50
TE CONNECTIVITY LIMITED CH TEL 513 $62,832.24
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 21,000 $194,477.28
TENCENT HOLDINGS 3.97500 04/11/2029 KY 810,000 $763,291.41
TENCENT HOLDINGS LTD CN 700 HK 8,700 $344,296.78
TERRENO REALTY CORP US TRNO 2,511 $153,999.63
TEXAS INSTRUMENTS INC US TXN 912 $158,578.56
THERMO FISHER SCIENTIFIC INC US TMO 6,370 $3,238,890.20
TOKYO ELECTRON LTD JP 8035 JP 1,500 $204,008.36
TRAVELLERS COS INC US TRV 440 $74,465.60
TREASURY BILL 0.00000 05/16/2024 US 4,825,000 $4,593,866.63
TREASURY BOND 2.37500 02/15/2042 US 4,520,000 $3,530,543.75
TRUIST FINANCIAL CORP US TFC 1,687 $51,402.89
TYSON FOODS INC -CL A US TSN 702 $35,549.28
U.S. BANCORP US USB 2,271 $67,902.90
UDR INC US UDR 4,174 $165,582.58
UNILEVER PLC - ADR GB UL 79,689 $3,979,668.66
UNION PAC CORP US UNP 8,494 $1,635,264.88
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 20,478 $19,273.86
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 184,706.17 $166,596.30
UNITED PARCEL SERVICE US UPS 857 $143,119.00
UNITEDHEALTH GROUP INC US UNH 2,827 $1,377,427.48
US TEASURY NOTE 1.75000 11/15/2029 US 13,805,000 $12,304,784.83
US TREASURY N/B 0.87500 11/15/2030 US 17,050,000 $14,023,625.00
US TREASURY N/B 1.37500 11/15/2031 US 2,005,000 $1,676,054.69
US TREASURY N/B 3.12500 11/15/2028 US 9,605,000 $9,293,587.94
US TREASURY N/B 3.62500 02/15/2053 US 1,790,000 $1,714,204.69
VALERO ENERGY US VLO 448 $47,953.92
VENTAS INC US VTR 1,827 $78,816.78
VERTEX PHARMACEUTICALS INC US VRTX 7,873 $2,547,466.61
VISA INC - CLASS A SHARES US V 35,275 $7,796,833.25
VISTRA OPERATIONS 4.87500 05/13/2024 US 340,000 $335,129.50
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 90,000 $87,055.84
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 480,000 $438,592.80
WELLS FARGO COMPANY US WFC 3,224 $128,347.44
WELLTOWER INC. US WELL 1,837 $137,058.57

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

$55.13

Daily $ Change

-$0.52

Daily % Change

-$0.94

as of 06/07/2023

CUSIP

563821115

Inception Date

01/01/2000

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Investment Objective

To provide long-term capital growth.

Investment Strategy

The portfolio is invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. Holdings are diversified primarily among various stock investments in both domestic and foreign markets; only a minor portion of the fund is invested in 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 seek long-term capital growth and generally have the time to withstand market volatility
  • Who have a very 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 15+ Years 7-20 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.

Learn more about our Pro-Mix® Series

Performance

As of 05/31/2023

YTD

8.58%

1 Year

1.03%

3 Year

7.79%

5 Year

8.01%

10 Year

8.32%

Inception
(01/01/2000)

7.45%

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.

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

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 05/31/2023

TREASURY NOTES 10.45%
AMAZON.COM INC 3.01%
META PLATFORMS INC 2.73%
JOHNSON & JOHNSON 2.56%
SERVICENOW INC 2.33%
ALPHABET INC-CL A 2.26%
VISA INC - CLASS A SHARES 2.18%
MASTERCARD INC-CLASS A 2.10%
ELECTRONIC ARTS 2.02%
MICRON TECHNOLOGY INC 1.94%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
81.81%
Bonds
15.07%
Cash
3.12%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
20.52%
Small Capitalization
0.24%
Mid Capitalization
7.03%
Large Capitalization
54.03%
Long Term Fixed Income
1.76%
Intermediate Term Fixed Income
11.75%
Short Term Fixed Income
1.55%
Cash
3.12%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 857 $79,966.67
ABBOTT LABORATORIES US ABT 1,611 $164,322.00
ADMIRAL GROUP PLC GB AMIGY 53,545 $1,547,985.95
ADMIRAL GROUP PLC GB ADM LN 18,082 $523,778.24
ADVANCED MICRO DEVICES INC US AMD 17,740 $2,097,045.40
ADYEN NV NL ADYEN NA 98 $160,508.53
AGREE REALTY CORP US ADC 2,723 $175,606.27
AIR LIQUIDE FR AI FP 2,446 $409,834.02
AIR LIQUIDE-ADR FR AIQUY 84,727 $2,840,049.04
AIRBUS SE FR AIR FP 2,071 $271,974.68
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 38,445.28 $38,970.71
ALCON INC CH ALC 48,275 $3,736,002.25
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 250,000 $205,350.87
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 470,000 $398,095.80
ALPHABET INC-CL A US GOOGL 65,765 $8,080,545.55
AMAZON.COM INC US AMZN 89,160 $10,750,912.80
AMAZON.COM INC 3.30000 04/13/2027 US 440,000 $424,328.74
AMERICAN HOMES 4 RENT- A US AMH 2,035 $69,759.80
AMERICAN TANKER INC 7.75000 07/02/2025 US 170,000 $163,371.81
AMERICAN TOWER REIT INC US AMT 671 $123,759.24
AMERICOLD REALTY TRUST US COLD 5,895 $172,723.50
ANALOG DEVICES INC US ADI 783 $139,131.27
APARTMENT INCOME REIT CO US AIRC 1,936 $67,159.84
APPLIED MATERIALS INC US AMAT 32,888 $4,383,970.40
ARCHER-DANIELS-MIDLAND CO US ADM 957 $67,612.05
ARGO BLOCKCHAIN PLC GB 3,600 $21,600.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 200,000 $185,316.12
ASTRAZENECA GB AZN 67,540 $4,935,823.20
ATLASSIAN CORP PLC-CLASS A AU TEAM 897 $162,168.63
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 23,866 $127,559.44
AUTO TRADER GROUP PLC GB AUTO LN 60,815 $477,277.54
AVALONBAY COMMUNITIES INC US AVB 629 $109,433.42
AVANZA BANK HOLDING AB SE AZA SS 9,111 $189,188.72
BAE SYSTEMS PLC GB BA/ LN 39,538 $456,962.29
BAE SYSTEMS PLC -SPON ADR GB BAESY 59,248 $2,784,063.52
BANK OF AMERICA CORP US BAC 6,043 $167,934.97
BANK OF AMERICA CORP 2.68700 04/22/2032 US 360,000 $297,367.55
BARRICK GOLD CORP CA GOLD 67,044 $1,131,702.72
BAXTER INTERNATIONAL INC US BAX 930 $37,869.60
BEIERSDORF AG DE BEI GR 2,691 $343,397.52
BIOMARIN PHARMACEUTICAL INC US BMRN 48,485 $4,215,285.90
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 190,000 $182,589.39
BOSTON SCIENTIFIC CORP US BSX 47,580 $2,449,418.40
BRANDYWINE REALTY TRUST US BDN 6,290 $24,531.00
BRISTOL MYERS SQUIBB CO US BMY 2,449 $157,813.56
BROADCOM INC US AVGO 302 $244,003.92
BROADRIDGE FINANCIAL SOLUTIONS US BR 285 $41,815.20
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 172,000 $147,775.22
BUNGE LIMITED US BG 371 $34,369.44
C.H. ROBINSON WORLDWIDE INC US CHRW 370 $34,979.80
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 170,000 $172,218.50
CAMPBELL SOUP CO US CPB 800 $40,440.00
CANADIAN NATIONAL RAILWAY CO CA CNI 15,345 $1,729,841.85
CARETRUST REIT INC US CTRE 5,384 $104,449.60
CATERPILLAR INC US CAT 760 $156,370.00
CBOE GLOBAL MARKETS INC US CBOE 35,700 $4,727,394.00
CELLNEX TELECOM SA ES CLNX SM 5,117 $207,368.86
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 153,779 $3,109,411.38
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 187,000 $195,760.76
CHEVRON CORP US CVX 1,498 $225,628.76
CISCO SYSTEMS INC US CSCO 4,456 $221,329.52
CITIGROUP INC US C 2,719 $120,506.08
CITIGROUP INC 1.46200 06/09/2027 US 340,000 $303,090.25
CLARK CNTY NV 1.51000 11/01/2028 US 350,000 $299,918.00
CLEANAWAY WASTE MANAGEMENT AU CWY AU 144,710 $244,517.99
COCA COLA CO/THE US KO 105,301 $6,282,257.66
COGNIZANT TECH SOLUTIONS - A US CTSH 748 $46,742.52
COLGATE-PALMOLIVE CO US CL 1,316 $97,884.08
COMCAST CORP-CL A US CMCSA 4,708 $185,259.80
COMMUNITY HEALTHCARE TRUST I US CHCT 2,543 $83,410.40
CONAGRA BRAND INC. US CAG 1,178 $41,076.86
CONOCOPHILLIPS US COP 1,292 $128,295.60
CONSTELLATION BRANDS INC-A US STZ 18,472 $4,488,141.84
COPART INC US CPRT 26,350 $2,307,996.50
CORNING INC US GLW 1,276 $39,313.56
COTERRA ENERGY INC US CTRA 1,544 $35,898.00
COUSINS PROPERTIES INC US CUZ 4,554 $90,715.68
CSX CORP US CSX 51,932 $1,592,754.44
CUMMINS INC US CMI 319 $65,206.79
CVS HEALTH CORP US CVS 25,888 $1,761,160.64
DANONE FR BN FP 2,470 $146,196.63
DEUTSCHE BOERSE AG DE DB1 GR 2,298 $397,470.77
DEUTSCHE BOERSE AG ADR DE DBOEY 140,706 $2,427,178.50
DEVON ENERGY CORPORATION US DVN 1,060 $48,866.00
DIAGEO PLC GB DGE LN 7,305 $303,687.48
DIAMONDBACK ENERGY INC US FANG 328 $41,705.20
DIGITAL REALTY TRUST INC US DLR 554 $56,762.84
DOLLAR GENERAL CORP US DG 12,274 $2,468,178.66
DOLLAR TREE STORES INC US DLTR 25,438 $3,431,077.44
DOMINO'S PIZZA US DPZ 4,720 $1,368,092.00
DOW INC US DOW 1,102 $53,755.56
DREYFUS GVT CSH MANAGEMENT US 11,495,458.69 $11,495,458.69
EBAY INC US EBAY 1,018 $43,305.72
ELECTRONIC ARTS US EA 56,286 $7,204,608.00
EMERSON ELEC CO US EMR 1,025 $79,622.00
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 460,000 $458,826.22
EOG RESOURCES INC US EOG 757 $81,218.53
EQUINIX INC US EQIX 6,589 $4,912,428.95
EQUITY COMMONWEALTH US EQC 4,399 $89,959.55
EQUITY LIFESTYLE PROPERTIES US ELS 2,712 $171,317.04
ESSEX PROPERTY TRUST INC US ESS 251 $54,231.06
EVERGY INC US EVRG 35,889 $2,076,178.65
EXTRA SPACE STORAGE INC US EXR 272 $39,241.44
EXXON MOBIL CORP US XOM 2,401 $245,334.18
FEDEX CORPORATION US FDX 292 $63,650.16
FIFTH THIRD BANCORP US FITB 1,508 $36,599.16
FINECOBANK SPA IT FBK IM 17,401 $232,445.49
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 4,887 $73,598.22
FMC CORP US FMC 51,989 $5,411,015.12
GENERAL DYNAMICS CORP US GD 448 $91,472.64
GENERAL MLS INC US GIS 1,088 $91,566.08
GENUINE PARTS CO US GPC 346 $51,529.78
GETTY REALTY CORP US GTY 3,777 $129,437.79
GILEAD SCIENCES INC US GILD 1,807 $139,030.58
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 105,000 $98,189.26
GREENIDGE GEN HLD INC US 3,400 $16,150.00
HALLIBURTON CO US HAL 1,356 $38,849.40
HARTFORD FINL SVCS US HIG 503 $34,465.56
HDFC BANK LTD-ADR IN HDB 47,229 $3,041,547.60
HEALTHCARE REALTY TRUST INC US HR 8,576 $159,599.36
HEINEKEN NV NL HEIA NA 3,885 $393,078.33
HEINEKEN NV-SPN ADR NL HEINY 48,134 $2,432,692.36
HELIOS TOWERS PLC GB HTWS LN 46,379 $52,241.04
HOME DEPOT INC US HD 986 $279,481.70
HONEYWELL INTERNATIONAL INC US HON 883 $169,182.80
HUMANA INC US HUM 7,655 $3,841,814.85
HUNTINGTON BANCSHARES US HBAN 2,543 $26,218.33
IDEXX LABORATORIES INC US IDXX 7,307 $3,396,074.39
IMCD NV NL IMCD NA 859 $129,483.67
INTERCONTINENTALEXCHANGE INC US ICE 26,950 $2,855,352.50
INTERMEDIATE CAPITAL GROUP GB ICP LN 8,851 $153,625.77
INTERNATIONAL BUSINESS MACH CORP US IBM 847 $108,915.73
INTERNATIONAL FLVRS & FRAGRANCES US IFF 485 $37,485.65
INTUIT INC US INTU 11,147 $4,671,930.64
INTUITIVE SURGICAL INC US ISRG 12,254 $3,772,271.36
INVITATION HOMES INC US INVH 4,859 $164,622.92
JM SMUCKER CO/THE-NEW COM WI US SJM 283 $41,484.97
JOHNSON & JOHNSON US JNJ 58,877 $9,129,467.62
JP MORGAN CHASE & CO US JPM 18,029 $2,446,715.59
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 510,000 $492,301.39
KELLOGG CO US K 542 $36,189.34
KEYENCE CORP JP 6861 JP 500 $242,388.95
KEYWORDS STUDIOS PLC IE KWS LN 3,821 $92,448.44
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 174,800 $357,228.79
KRAFT HEINZ CO/THE US KHC 1,518 $58,017.96
L'OREAL FR OR FP 161 $68,931.55
L3HARRIS TECHNOLOGIES INC US LHX 32,153 $5,656,355.76
LEXINGTON REALTY TRUST US LXP 11,222 $116,035.48
LIFE STORAGE INC US LSI 1,139 $145,097.21
LINDE PLC IE LIN 5,102 $1,804,373.32
LOCKHEED MARTIN CORP US LMT 341 $151,407.41
LULULEMON - ADR CA LULU 13,490 $4,477,735.70
MARATHON OIL CORP US MRO 1,148 $25,439.68
MARATHON PETROLEUM CORP US MPC 709 $74,381.19
MASCO CORP US MAS 110,943 $5,360,765.76
MASTERCARD INC-CLASS A US MA 20,497 $7,481,814.94
MEDTRONIC INC IE MDT 78,579 $6,503,198.04
MEITUAN DIANPING - CLASS B CN 3690 HK 100 $1,404.13
MERCADOLIBRE INC BR MELI 2,162 $2,678,718.00
MERCK & CO INC US MRK 2,570 $283,753.70
META PLATFORMS INC US META 36,785 $9,737,725.20
MICROCHIP TECHNOLOGY INC US MCHP 872 $65,626.72
MICRON TECHNOLOGY INC US MU 101,337 $6,911,183.40
MICROSOFT CORP US MSFT 18,598 $6,107,397.22
MID-AMERICA APARTMENT COMM US MAA 954 $140,295.24
MONARCH CASINO & RESORT INC US MCRI 865 $56,129.85
MONDELEZ INTERNATIONAL INC US MDLZ 60,532 $4,443,654.12
MOODY'S CORPORATION US MCO 20,614 $6,532,164.32
NAVIENT CORP 6.75000 06/25/2025 US 185,000 $180,012.46
NESTLE S.A. - ADR CH NSRGY 35,610 $4,227,975.30
NESTLE SA-REGISTERED CH NESN SW 3,725 $441,547.73
NETAPP INC US NTAP 571 $37,885.85
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 210,000 $188,920.76
NEWMONT GOLDCORP CORP US NEM 19,496 $790,562.80
NIKE INC CLASS B US NKE 19,528 $2,055,517.28
NORFOLK SOUTHN CORP US NSC 7,695 $1,601,945.10
NORTHROP GRUMMAN CORP US NOC 10,339 $4,502,531.11
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 145,000 $14.50
NOVARTIS AG- REG CH NVS 28,899 $2,781,528.75
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 200,000 $201,000.00
OMNICOM GROUP US OMC 522 $46,035.18
PACKAGING CORP OF AMERICA US PKG 243 $30,139.29
PARAMOUNT GLOBAL CLASS B US PARA 1,430 $21,750.30
PELORUS FUND REIT 7.00000 09/30/2026 US 190,000 $178,001.04
PEPSICO INC 3.90000 07/18/2032 US 370,000 $357,345.59
PFIZER INC US PFE 4,840 $184,016.80
PHILLIPS 66 US PSX 562 $51,484.82
POPULAR INC 6.12500 09/14/2023 PR 160,000 $159,200.00
PPG INDUSTRIES INC US PPG 394 $51,728.26
PROLOGIS US PLD 6,014 $749,043.70
PUBLIC STORAGE INC US PSA 893 $252,986.90
QUALCOMM 5.40000 05/20/2033 US 390,000 $407,818.95
QUALCOMM INC US QCOM 1,436 $162,856.76
QUEST DIAGNOSTICS INC US DGX 305 $40,458.25
RAYTHEON TECHNOLOGIES CORP US RTX 1,295 $119,321.30
REALTY INCOME CORP US O 2,419 $143,785.36
REGIONS FINANCIAL CORP. US RF 2,279 $39,358.33
RENAISSANCERE HOLDINGS LTD BM RNR 1,331 $250,720.47
RENTOKIL INITIAL PLC GB RTO LN 40,495 $322,120.67
RENTOKIL INITIAL PLC-SP ADR GB RTO 80,002 $3,178,479.46
RESTAURANT BRANDS INTERN CA QSR 3,037 $221,427.67
REXFORD INDUSTRIAL REALITY IN US REXR 2,898 $157,767.12
S&P GLOBAL INC US SPGI 12,856 $4,723,680.08
SALESFORCE INC US CRM 24,868 $5,555,013.84
SBA COMMUNICATIONS CORP US SBAC 12,161 $2,697,066.58
SBA TOWER TRUST 6.59900 01/15/2028 US 315,000 $325,970.57
SCHLUMBERGER LTD NL SLB 1,602 $68,613.66
SERVICENOW INC US NOW 15,291 $8,330,230.98
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 630,000 $511,897.32
SKYWORKS SOLUTIONS INC US SWKS 338 $34,986.38
SNOWFLAKE INC-CLASS A US SNOW 32,296 $5,340,466.56
SONY CORP FIRST SECTION JP 6758 JP 4,100 $384,499.58
SONY CORP SPONSORED ADR JP SONY 36,709 $3,439,633.30
STAG INDUSTRIAL INC US STAG 2,231 $77,638.80
SUN COMMUNITIES US SUI 1,802 $228,187.26
SYNCHRONOSS TECH US 4,559 $84,341.50
SYSCO CORP US SYY 682 $47,705.90
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 42,450 $4,185,145.50
TE CONNECTIVITY LIMITED CH TEL 513 $62,832.24
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 21,000 $194,477.28
TENCENT HOLDINGS 3.97500 04/11/2029 KY 810,000 $763,291.41
TENCENT HOLDINGS LTD CN 700 HK 8,700 $344,296.78
TERRENO REALTY CORP US TRNO 2,511 $153,999.63
TEXAS INSTRUMENTS INC US TXN 912 $158,578.56
THERMO FISHER SCIENTIFIC INC US TMO 6,370 $3,238,890.20
TOKYO ELECTRON LTD JP 8035 JP 1,500 $204,008.36
TRAVELLERS COS INC US TRV 440 $74,465.60
TREASURY BILL 0.00000 05/16/2024 US 4,825,000 $4,593,866.63
TREASURY BOND 2.37500 02/15/2042 US 4,520,000 $3,530,543.75
TRUIST FINANCIAL CORP US TFC 1,687 $51,402.89
TYSON FOODS INC -CL A US TSN 702 $35,549.28
U.S. BANCORP US USB 2,271 $67,902.90
UDR INC US UDR 4,174 $165,582.58
UNILEVER PLC - ADR GB UL 79,689 $3,979,668.66
UNION PAC CORP US UNP 8,494 $1,635,264.88
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 20,478 $19,273.86
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 184,706.17 $166,596.30
UNITED PARCEL SERVICE US UPS 857 $143,119.00
UNITEDHEALTH GROUP INC US UNH 2,827 $1,377,427.48
US TEASURY NOTE 1.75000 11/15/2029 US 13,805,000 $12,304,784.83
US TREASURY N/B 0.87500 11/15/2030 US 17,050,000 $14,023,625.00
US TREASURY N/B 1.37500 11/15/2031 US 2,005,000 $1,676,054.69
US TREASURY N/B 3.12500 11/15/2028 US 9,605,000 $9,293,587.94
US TREASURY N/B 3.62500 02/15/2053 US 1,790,000 $1,714,204.69
VALERO ENERGY US VLO 448 $47,953.92
VENTAS INC US VTR 1,827 $78,816.78
VERTEX PHARMACEUTICALS INC US VRTX 7,873 $2,547,466.61
VISA INC - CLASS A SHARES US V 35,275 $7,796,833.25
VISTRA OPERATIONS 4.87500 05/13/2024 US 340,000 $335,129.50
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 90,000 $87,055.84
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 480,000 $438,592.80
WELLS FARGO COMPANY US WFC 3,224 $128,347.44
WELLTOWER INC. US WELL 1,837 $137,058.57

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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