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 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

$47.98

Daily $ Change

-$0.68

Daily % Change

-1.42%

as of 09/29/2022

CUSIP

563821115

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

-18.09%

1 Year

-16.62%

3 Year

8.56%

5 Year

8.71%

10 Year

9.35%

Inception
(01/01/2000)

7.45%

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 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks 83.42%
Bonds 11.15%
Cash 5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 23.54%
Small Capitalization 2.44%
Mid Capitalization 7.45%
Large Capitalization 49.99%
Long Term Fixed Income 2.48%
Intermediate Term Fixed Income 5.91%
Short Term Fixed Income 2.76%
Cash 5.43%

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 1,076 $110,451.40
ACTIVISION INC US ATVI 25,567 $2,006,753.83
ADIDAS AG-SPONSORED ADR DE ADDYY 33,611 $2,493,263.98
ADMIRAL GROUP PLC GB AMIGY 66,555 $1,675,854.90
ADYEN NV UNSPON ADR NL ADYEY 176,917 $2,743,982.67
AGREE REALTY CORP US ADC 930 $70,047.60
AIR LIQUIDE-ADR FR AIQUY 84,727 $2,124,105.89
AIR LEASE CORP 3.62500 04/01/2027 US 200,000 $185,549.86
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 44,487.18 $44,789.99
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 470,000 $395,258.49
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 250,000 $208,332.54
ALIGN TECHNOLOGY INC US ALGN 9,105 $2,218,888.50
ALLSTATE CORPORATION US ALL 451 $54,345.50
ALPHABET INC-CL A US GOOGL 37,060 $4,010,633.20
AMAZON.COM INC US AMZN 82,440 $10,450,918.80
AMAZON.COM INC 3.30000 04/13/2027 US 440,000 $430,508.17
DIAGEO PLC GB DGE LN 7,755 $336,926.79
BAE SYSTEMS PLC GB BA/ LN 30,352 $273,353.15
AMERICAN HOMES 4 RENT- A US AMH 4,640 $164,998.40
AMERICAN TOWER REIT INC US AMT 514 $130,581.70
ANALOG DEVICES INC US ADI 615 $93,190.95
APPLE HOSPITALITY REIT INC US APLE 10,172 $161,836.52
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,496.04
ARCHER-DANIELS-MIDLAND CO US ADM 708 $62,226.12
ARGO BLOCKCHAIN PLC GB 3,600 $64,188.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 200,000 $183,274.31
AUTOMATIC DATA PROCESSING US ADP 440 $107,540.40
AVALONBAY COMMUNITIES INC US AVB 790 $158,718.90
BAE SYSTEMS PLC -SPON ADR GB BAESY 59,248 $2,138,852.80
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 190,000 $187,041.45
BANK OF AMERICA CORP 2.68700 04/22/2032 US 360,000 $300,460.83
BARRICK GOLD CORP CA GOLD 55,820 $828,927.00
BAXTER INTERNATIONAL INC US BAX 545 $31,315.70
BEST BUY INC US BBY 437 $30,891.53
BIOMARIN PHARMACEUTICAL INC US BMRN 26,520 $2,365,584.00
BLACKROCK INC US BLK 5,117 $3,409,917.63
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 175,000 $154,840.05
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,471 $221,263.19
BOSTON SCIENTIFIC CORP US BSX 43,110 $1,737,764.10
BRANDYWINE REALTY TRUST US BDN 5,783 $46,437.49
BRENNTAG AG-UNSP ADR DE BNTGY 113,127 $1,480,832.43
BRISTOL MYERS SQUIBB CO US BMY 2,037 $137,314.17
BROADRIDGE FINANCIAL SOLUTIONS US BR 210 $35,945.70
JONAH ENERGY PARENT LLC US 1,991 $113,307.81
CBOE GLOBAL MARKETS INC US CBOE 14,110 $1,664,556.70
CDW CORP/DE US CDW 9,109 $1,554,906.30
C.H. ROBINSON WORLDWIDE INC US CHRW 286 $32,646.90
CVS HEALTH CORP US CVS 24,636 $2,418,023.40
COTERRA ENERGY INC US CTRA 994 $30,724.54
CAMDEN PROPERTY TRUST US CPT 887 $113,988.37
CAMECO CORP CA CCJ 4,377 $127,589.55
CAMPBELL SOUP CO US CPB 627 $31,588.26
CANADIAN NATIONAL RAILWAY CO CA CNI 39,640 $4,713,592.40
CARETRUST REIT INC US CTRE 6,245 $134,517.30
CATERPILLAR INC US CAT 545 $100,666.95
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 151,164 $2,937,116.52
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 419,000 $457,635.09
CHARTER COMMUNICATIONS INC-A US CHTR 8,900 $3,672,407.00
CHEVRON CORP US CVX 992 $156,795.52
CINCINNATI FINANCIAL CORP US CINF 288 $27,924.48
CISCO SYSTEMS INC US CSCO 3,455 $154,507.60
CITIGROUP INC US C 2,177 $106,259.37
CITIGROUP INC 1.46200 06/09/2027 US 340,000 $300,105.85
CLARK CNTY NV 1.51000 11/01/2028 US 350,000 $299,662.61
COCA COLA CO/THE US KO 105,301 $6,498,124.71
COGNEX CORP US CGNX 24,725 $1,041,169.75
COLGATE-PALMOLIVE CO US CL 1,043 $81,573.03
COMCAST CORP-CL A US CMCSA 3,601 $130,320.19
COMMUNITY HEALTHCARE TRUST I US CHCT 1,911 $70,496.79
CONAGRA BRAND INC. US CAG 952 $32,729.76
CONOCOPHILLIPS US COP 887 $97,082.15
CONSTELLATION BRANDS INC-A US STZ 21,689 $5,336,578.45
CONTROLADORA VUELA CIA DE AV MX VLRS 10,835 $96,214.80
COPART INC US CPRT 13,175 $1,576,388.75
COUSINS PROPERTIES INC US CUZ 4,246 $114,005.10
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 250,000 $221,321.63
CUMMINS INC US CMI 228 $49,104.36
KIMBERLY CLARK DE MEXICO S.A.B. MX 212,100 $287,937.61
DEUTSCHE BOERSE AG ADR DE DBOEY 140,706 $2,371,318.22
DEVON ENERGY CORPORATION US DVN 700 $49,434.00
DIAMONDBACK ENERGY INC US FANG 210 $27,988.80
DIGITAL REALTY TRUST INC US DLR 1,601 $197,931.63
DOLLAR GENERAL CORP US DG 12,274 $2,914,093.08
DOLLAR TREE STORES INC US DLTR 25,691 $3,485,754.88
DOMINO'S PIZZA US DPZ 5,849 $2,175,009.14
DOUBLEVERIFY HOLDINGS INC US DV 110,597 $2,858,932.45
DOW INC US DOW 727 $37,077.00
DREYFUS GVT CSH MANAGEMENT US 18,692,299.92 $18,692,299.92
DUKE RLTY INVTS INC US DRE 1,861 $109,519.85
EOG RESOURCES INC US EOG 501 $60,771.30
EAST WEST BANCORP INC US EWBC 33,727 $2,434,077.59
EASTMAN CHEM CO US EMN 268 $24,388.00
EBAY INC US EBAY 669 $29,522.97
ELECTRONIC ARTS US EA 27,662 $3,509,477.94
EMERSON ELEC CO US EMR 768 $62,776.32
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 460,000 $464,969.56
EQUINIX INC US EQIX 6,680 $4,391,231.60
EQUITY LIFESTYLE PROPERTIES US ELS 3,274 $229,507.40
ESSEX PROPERTY TRUST INC US ESS 488 $129,349.28
EVERGY INC US EVRG 35,889 $2,459,473.17
EXPEDIA GROUP INC 3.25000 02/15/2030 US 200,000 $173,068.09
EXTRA SPACE STORAGE INC US EXR 396 $78,697.08
FMC CORP US FMC 30,037 $3,246,398.96
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 175,000 $175,641.42
META PLATFORMS INC US META 29,545 $4,813,766.85
FEDEX CORPORATION US FDX 7,663 $1,615,437.03
FIFTH THIRD BANCORP US FITB 1,214 $41,458.10
GENERAL DYNAMICS CORP US GD 346 $79,209.78
GENERAL MLS INC US GIS 875 $67,200.00
GENUINE PARTS CO US GPC 272 $42,434.72
GETTY REALTY CORP US GTY 2,473 $74,387.84
GILEAD SCIENCES INC US GILD 1,569 $99,584.43
GRAPHIC PACKAGING HOLDING CO US GPK 68,648 $1,528,790.96
GREENIDGE GEN HLD INC US 3,400 $47,634.00
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 16,721 $874,006.67
GRUPO AEROPORTUARIO PAC-ADR MX PAC 6,669 $950,799.33
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 4,568 $965,994.96
AIRBUS SE FR AIR FP 1,587 $155,515.13
ADIDAS AG DE ADS GR 2,058 $305,166.69
HCA INC 4.12500 06/15/2029 US 280,000 $260,128.73
HDFC BANK LTD-ADR IN HDB 53,682 $3,277,286.10
L'OREAL FR OR FP 210 $72,123.26
HEALTHCARE REALTY TRUST INC US HR 6,268 $152,437.76
HEINEKEN NV-SPN ADR NL HEINY 48,134 $2,162,179.28
HESKA CORP US HSKA 15,476 $1,409,399.32
HOME DEPOT INC US HD 765 $220,641.30
HONEYWELL INTERNATIONAL INC US HON 687 $130,083.45
HUMANA INC US HUM 3,838 $1,849,071.64
IIP OPERATING PARTNER 5.50000 05/25/2026 US 180,000 $160,332.59
IDEXX LABORATORIES INC US IDXX 7,614 $2,646,778.68
KERRY GROUP PLC-A IE KYGA ID 1,317 $135,811.31
ILLINOIS TOOL WKS INC US ITW 392 $76,373.36
INDEPENDENCE REALTY TRUST IN US IRT 2,779 $54,051.55
INSPERITY INC US NSP 24,490 $2,669,899.80
INTEL CORP US INTC 3,736 $119,253.12
INTERCONTINENTALEXCHANGE INC US ICE 26,950 $2,717,907.50
INTERNATIONAL FLVRS & FRAGRANCES US IFF 390 $43,087.20
INTUITIVE SURGICAL INC US ISRG 10,779 $2,217,671.46
INVITATION HOMES INC US INVH 5,876 $213,181.28
JP MORGAN CHASE & CO US JPM 20,335 $2,312,699.55
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 510,000 $496,081.25
JOHNSON & JOHNSON US JNJ 37,298 $6,017,659.32
KEYCORP US KEY 1,286 $22,749.34
KROGER CO US KR 1,081 $51,823.14
L3HARRIS TECHNOLOGIES INC US LHX 10,030 $2,288,745.70
BEIERSDORF AG DE BEI GR 3,197 $322,705.26
LENNAR CORP US LEN 379 $29,353.55
LIFE STORAGE INC US LSI 1,129 $143,665.25
LOCKHEED MARTIN CORP US LMT 275 $115,530.25
LULULEMON - ADR CA LULU 16,641 $4,991,634.36
MAGALLANES INC 4.05400 03/15/2029 US 480,000 $436,885.27
MARATHON PETROLEUM CORP US MPC 549 $55,311.75
MARRIOTT VACATIONS WORLD US VAC 517 $73,631.14
MASTERCARD INC-CLASS A US MA 21,629 $7,015,798.73
MCDONALDS CORP US MCD 475 $119,833.00
MERCADOLIBRE INC BR MELI 2,311 $1,976,736.96
MERCK & CO INC US MRK 2,220 $189,499.20
MICROSOFT CORP US MSFT 34,900 $9,125,303.00
MICROCHIP TECHNOLOGY INC US MCHP 622 $40,585.50
MID-AMERICA APARTMENT COMM US MAA 937 $155,232.79
MONDELEZ INTERNATIONAL INC US MDLZ 99,649 $6,164,287.14
MOODY'S CORPORATION US MCO 14,699 $4,182,159.48
MOTOROLA SOLUTIONS INC US MSI 244 $59,392.04
NAVIENT CORP 6.75000 06/25/2025 US 185,000 $178,601.84
NESTLE S.A. - ADR CH NSRGY 35,610 $4,168,506.60
NETAPP INC US NTAP 438 $31,592.94
KEYENCE CORP JP 6861 JP 600 $225,284.44
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 95,000 $91,850.96
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 210,000 $182,229.37
NEWMONT GOLDCORP CORP US NEM 16,991 $702,747.76
NIKE INC CLASS B US NKE 19,528 $2,078,755.60
NORFOLK SOUTHN CORP US NSC 9,441 $2,295,390.33
NIKON CORP JP 7731 JP 11,800 $134,699.63
NORTHROP GRUMMAN CORP US NOC 5,196 $2,483,636.04
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 145,000 $14.50
NOVARTIS AG- REG CH NVS 35,397 $2,850,166.44
NUCOR CORP US NUE 362 $48,124.28
NVIDIA CORP US NVDA 6,005 $906,394.70
OKTA INC US OKTA 16,556 $1,513,218.40
OMNICOM GROUP US OMC 409 $27,362.10
SONY CORP FIRST SECTION JP 6758 JP 2,500 $198,758.27
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 200,000 $178,948.91
PPG INDUSTRIES INC US PPG 256 $32,506.88
PACKAGING CORP OF AMERICA US PKG 198 $27,110.16
PARKER HANNIFIN CORP US PH 143 $37,895.00
DEUTSCHE BOERSE AG DE DB1 GR 1,637 $276,774.97
PAYPAL HOLDINGS INC US PYPL 50,044 $4,676,111.36
PELORUS FUND REIT 7.00000 09/30/2026 US 190,000 $176,899.11
NESTLE SA-REGISTERED CH NESN SW 4,227 $494,656.12
PEPSICO INC 3.90000 07/18/2032 US 370,000 $363,469.63
PFIZER INC US PFE 3,146 $142,293.58
PIONEER NATURAL RESOURCES CO US PXD 222 $56,214.84
POPULAR INC 6.12500 09/14/2023 PR 160,000 $162,048.99
PROCTER & GAMBLE CO US PG 1,699 $234,360.06
PROLOGIS US PLD 4,959 $617,445.09
PUBLIC STORAGE INC US PSA 868 $287,160.44
QUALCOMM INC US QCOM 1,058 $139,941.66
QUALCOMM INC 4.25000 05/20/2032 US 400,000 $404,752.10
QUEST DIAGNOSTICS INC US DGX 253 $31,703.43
RADIUS GLOBAL INFRASTRUCTURE US RADI 17,830 $245,519.10
REGIONS FINANCIAL CORP. US RF 1,744 $37,792.48
REPUBLIC SERVICES INC US RSG 456 $65,080.32
RESTAURANT BRANDS INTERN CA QSR 2,754 $162,486.00
REXFORD INDUSTRIAL REALITY IN US REXR 2,986 $185,759.06
GETINGE AB-B SHS SE GETIB SS 12,279 $227,426.12
ROSS STORES INC US ROST 403 $34,766.81
HEINEKEN NV NL HEIA NA 3,014 $270,895.50
RYANAIR HOLDINGS - ADR IE RYAAY 33,220 $2,415,426.20
S&P GLOBAL INC US SPGI 8,136 $2,865,336.48
SBA COMMUNICATIONS CORP US SBAC 16,261 $5,288,890.25
NAVIENT CORP 5.50000 01/25/2023 US 90,000 $89,579.06
SALESFORCE INC US CRM 38,053 $5,940,834.36
SEA LTD - ADR SG SE 45,842 $2,842,204.00
SEAGEN INC US SGEN 9,755 $1,505,098.95
SERVICENOW INC US NOW 12,813 $5,568,786.06
SHOPIFY INC CA SHOP 3,208 $101,533.20
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 630,000 $527,486.18
SKYWORKS SOLUTIONS INC US SWKS 220 $21,681.00
JM SMUCKER CO/THE-NEW COM WI US SJM 224 $31,357.76
SNOWFLAKE INC-CLASS A US SNOW 24,536 $4,439,789.20
SONY CORP SPONSORED ADR JP SONY 43,792 $3,474,895.20
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 370,000 $376,851.42
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 85,000 $84,575.59
STANLEY BLACK & DECKER INC US SWK 204 $17,972.40
STEEL DYNAMICS INC US STLD 374 $30,189.28
SUN COMMUNITIES US SUI 1,544 $237,328.24
SYNCHRONOSS TECH US 6,890 $149,650.80
SYNERGY ONE LENDING 5.50000 10/14/2026 US 175,000 $151,107.44
TJX COMPANIES INC US TJX 1,037 $64,656.95
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 31,494 $2,625,024.90
TARGET CORP US TGT 370 $59,325.80
TENCENT HOLDINGS 3.97500 04/11/2029 KY 810,000 $763,418.71
TERRENO REALTY CORP US TRNO 1,936 $118,076.64
TEXAS INSTRUMENTS INC US TXN 646 $106,725.66
THERMO FISHER SCIENTIFIC INC US TMO 5,977 $3,259,377.64
3M CO US MMM 655 $81,449.25
TRACTOR SUPPLY COMPANY US TSCO 159 $29,438.85
TRAVELLERS COS INC US TRV 336 $54,311.04
TYSON FOODS INC -CL A US TSN 556 $41,911.28
UDR INC US UDR 4,765 $213,805.55
U.S. BANCORP US USB 1,774 $80,912.14
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 197,071 $1,811,476.63
UNILEVER PLC - ADR GB UL 91,671 $4,160,946.69
UNION PAC CORP US UNP 610 $136,951.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 218,658.97 $184,203.77
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,201.32
UNITED PARCEL SERVICE US UPS 9,816 $1,909,310.16
US TREASURY N/B 3.00000 05/15/2047 US 7,700,000 $7,028,656.25
US TREASURY N/B 3.12500 11/15/2028 US 13,140,000 $13,003,467.25
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 7,765,000 $7,678,250.43
UNITEDHEALTH GROUP INC US UNH 3,815 $1,981,243.95
UNIVERSAL DISPLAY CORP US OLED 22,640 $2,529,567.20
VF CORP US VFC 533 $22,092.85
VENTAS INC US VTR 1,792 $85,765.12
VERTEX PHARMACEUTICALS INC US VRTX 7,873 $2,218,296.48
PARAMOUNT GLOBAL CLASS B US PARA 879 $20,559.81
VISA INC - CLASS A SHARES US V 27,370 $5,438,692.70
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 90,000 $86,790.76
VISTRA OPERATIONS 4.87500 05/13/2024 US 340,000 $336,114.09
WAL MART STORES US WMT 1,967 $260,725.85
WALGREENS BOOTS ALLIANCE INC US WBA 979 $34,323.74
WASTE MANAGEMENT INC US WM 510 $86,205.30
WELLTOWER INC. US WELL 2,084 $159,738.60
ZOETIS INC US ZTS 6,532 $1,022,453.96
ADMIRAL GROUP PLC GB ADM LN 15,406 $378,969.02
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,500 $49,084.21
UBISOFT ENTERTAINMENT FR UBI FP 5,214 $240,443.91
DANONE FR BN FP 2,470 $129,972.18
AIR LIQUIDE FR AI FP 3,606 $451,878.05
BRENNTAG AG DE BNR GR 3,042 $199,456.33
KEYWORDS STUDIOS PLC IE KWS LN 2,385 $68,737.32
S4 CAPITAL PLC GB SFOR LN 119,867 $184,231.81
HELIOS TOWERS PLC GB HTWS LN 43,487 $62,319.90
AVANZA BANK HOLDING AB SE AZA SS 11,557 $185,247.51
AMERICAN TANKER INC 7.75000 07/02/2025 US 170,000 $164,352.20
SOFTWAREONE HOLDING AG CH SWON SW 16,099 $211,655.37
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 5,303 $84,052.55
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 136,000 $138,720.00
FINECOBANK SPA IT FBK IM 35,443 $383,220.22
ALLFUNDS GROUP PLC GB ALLFG NA 19,609 $153,959.97
ROTORK PLC GB ROR LN 67,578 $193,868.29
AUTO TRADER GROUP PLC GB AUTO LN 49,289 $372,165.55
CELLNEX TELECOM SA ES CLNX SM 3,313 $129,017.27
ASSA ABLOY AB-B SE ASSAB SS 10,942 $221,618.98
CLEANAWAY WASTE MANAGEMENT AU CWY AU 144,710 $274,848.51
INTERMEDIATE CAPITAL GROUP GB ICP LN 13,789 $217,973.21
ADYEN NV NL ADYEN NA 212 $327,146.76
BANK OF N.T. BUTTERFIELD&SON BM NTB 4,325 $141,081.50
BUNGE LIMITED US BG 265 $26,280.05
EATON CORP PLC US ETN 519 $70,916.16
JOHNSON CONTROLS INTERNATIONAL US JCI 970 $52,515.80
MEDTRONIC INC IE MDT 75,224 $6,613,694.08
ROYALTY PHARMA PLC- CL A US RPRX 783 $32,737.23
STONECO LTD-A BR STNE 15,197 $144,067.56
TRANE TECHNOLOGIES IE TT 249 $38,363.43
ALCON INC CH ALC 28,843 $1,894,408.24
CHUBB LTD CH CB 478 $90,365.90
GARMIN LTD CH GRMN 341 $30,175.09
TE CONNECTIVITY LIMITED CH TEL 337 $42,532.77
LYONDELLBASELL INDU-CL A US LYB 370 $30,710.00
PLAYA HOTELS AND RESORTS US PLYA 5,469 $35,876.64
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

$47.98

Daily $ Change

-$0.68

Daily % Change

-1.42%

as of 09/29/2022

CUSIP

563821115

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.

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 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

-18.09%

1 Year

-16.62%

3 Year

8.56%

5 Year

8.71%

10 Year

9.35%

Inception
(01/01/2000)

7.45%

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 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks
83.42%
Bonds
11.15%
Cash
5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
23.54%
Small Capitalization
2.44%
Mid Capitalization
7.45%
Large Capitalization
49.99%
Long Term Fixed Income
2.48%
Intermediate Term Fixed Income
5.91%
Short Term Fixed Income
2.76%
Cash
5.43%

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 1,076 $110,451.40
ACTIVISION INC US ATVI 25,567 $2,006,753.83
ADIDAS AG-SPONSORED ADR DE ADDYY 33,611 $2,493,263.98
ADMIRAL GROUP PLC GB AMIGY 66,555 $1,675,854.90
ADYEN NV UNSPON ADR NL ADYEY 176,917 $2,743,982.67
AGREE REALTY CORP US ADC 930 $70,047.60
AIR LIQUIDE-ADR FR AIQUY 84,727 $2,124,105.89
AIR LEASE CORP 3.62500 04/01/2027 US 200,000 $185,549.86
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 44,487.18 $44,789.99
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 470,000 $395,258.49
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 250,000 $208,332.54
ALIGN TECHNOLOGY INC US ALGN 9,105 $2,218,888.50
ALLSTATE CORPORATION US ALL 451 $54,345.50
ALPHABET INC-CL A US GOOGL 37,060 $4,010,633.20
AMAZON.COM INC US AMZN 82,440 $10,450,918.80
AMAZON.COM INC 3.30000 04/13/2027 US 440,000 $430,508.17
DIAGEO PLC GB DGE LN 7,755 $336,926.79
BAE SYSTEMS PLC GB BA/ LN 30,352 $273,353.15
AMERICAN HOMES 4 RENT- A US AMH 4,640 $164,998.40
AMERICAN TOWER REIT INC US AMT 514 $130,581.70
ANALOG DEVICES INC US ADI 615 $93,190.95
APPLE HOSPITALITY REIT INC US APLE 10,172 $161,836.52
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 50,000 $50,496.04
ARCHER-DANIELS-MIDLAND CO US ADM 708 $62,226.12
ARGO BLOCKCHAIN PLC GB 3,600 $64,188.00
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 200,000 $183,274.31
AUTOMATIC DATA PROCESSING US ADP 440 $107,540.40
AVALONBAY COMMUNITIES INC US AVB 790 $158,718.90
BAE SYSTEMS PLC -SPON ADR GB BAESY 59,248 $2,138,852.80
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 190,000 $187,041.45
BANK OF AMERICA CORP 2.68700 04/22/2032 US 360,000 $300,460.83
BARRICK GOLD CORP CA GOLD 55,820 $828,927.00
BAXTER INTERNATIONAL INC US BAX 545 $31,315.70
BEST BUY INC US BBY 437 $30,891.53
BIOMARIN PHARMACEUTICAL INC US BMRN 26,520 $2,365,584.00
BLACKROCK INC US BLK 5,117 $3,409,917.63
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 175,000 $154,840.05
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,471 $221,263.19
BOSTON SCIENTIFIC CORP US BSX 43,110 $1,737,764.10
BRANDYWINE REALTY TRUST US BDN 5,783 $46,437.49
BRENNTAG AG-UNSP ADR DE BNTGY 113,127 $1,480,832.43
BRISTOL MYERS SQUIBB CO US BMY 2,037 $137,314.17
BROADRIDGE FINANCIAL SOLUTIONS US BR 210 $35,945.70
JONAH ENERGY PARENT LLC US 1,991 $113,307.81
CBOE GLOBAL MARKETS INC US CBOE 14,110 $1,664,556.70
CDW CORP/DE US CDW 9,109 $1,554,906.30
C.H. ROBINSON WORLDWIDE INC US CHRW 286 $32,646.90
CVS HEALTH CORP US CVS 24,636 $2,418,023.40
COTERRA ENERGY INC US CTRA 994 $30,724.54
CAMDEN PROPERTY TRUST US CPT 887 $113,988.37
CAMECO CORP CA CCJ 4,377 $127,589.55
CAMPBELL SOUP CO US CPB 627 $31,588.26
CANADIAN NATIONAL RAILWAY CO CA CNI 39,640 $4,713,592.40
CARETRUST REIT INC US CTRE 6,245 $134,517.30
CATERPILLAR INC US CAT 545 $100,666.95
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 151,164 $2,937,116.52
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 419,000 $457,635.09
CHARTER COMMUNICATIONS INC-A US CHTR 8,900 $3,672,407.00
CHEVRON CORP US CVX 992 $156,795.52
CINCINNATI FINANCIAL CORP US CINF 288 $27,924.48
CISCO SYSTEMS INC US CSCO 3,455 $154,507.60
CITIGROUP INC US C 2,177 $106,259.37
CITIGROUP INC 1.46200 06/09/2027 US 340,000 $300,105.85
CLARK CNTY NV 1.51000 11/01/2028 US 350,000 $299,662.61
COCA COLA CO/THE US KO 105,301 $6,498,124.71
COGNEX CORP US CGNX 24,725 $1,041,169.75
COLGATE-PALMOLIVE CO US CL 1,043 $81,573.03
COMCAST CORP-CL A US CMCSA 3,601 $130,320.19
COMMUNITY HEALTHCARE TRUST I US CHCT 1,911 $70,496.79
CONAGRA BRAND INC. US CAG 952 $32,729.76
CONOCOPHILLIPS US COP 887 $97,082.15
CONSTELLATION BRANDS INC-A US STZ 21,689 $5,336,578.45
CONTROLADORA VUELA CIA DE AV MX VLRS 10,835 $96,214.80
COPART INC US CPRT 13,175 $1,576,388.75
COUSINS PROPERTIES INC US CUZ 4,246 $114,005.10
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 250,000 $221,321.63
CUMMINS INC US CMI 228 $49,104.36
KIMBERLY CLARK DE MEXICO S.A.B. MX 212,100 $287,937.61
DEUTSCHE BOERSE AG ADR DE DBOEY 140,706 $2,371,318.22
DEVON ENERGY CORPORATION US DVN 700 $49,434.00
DIAMONDBACK ENERGY INC US FANG 210 $27,988.80
DIGITAL REALTY TRUST INC US DLR 1,601 $197,931.63
DOLLAR GENERAL CORP US DG 12,274 $2,914,093.08
DOLLAR TREE STORES INC US DLTR 25,691 $3,485,754.88
DOMINO'S PIZZA US DPZ 5,849 $2,175,009.14
DOUBLEVERIFY HOLDINGS INC US DV 110,597 $2,858,932.45
DOW INC US DOW 727 $37,077.00
DREYFUS GVT CSH MANAGEMENT US 18,692,299.92 $18,692,299.92
DUKE RLTY INVTS INC US DRE 1,861 $109,519.85
EOG RESOURCES INC US EOG 501 $60,771.30
EAST WEST BANCORP INC US EWBC 33,727 $2,434,077.59
EASTMAN CHEM CO US EMN 268 $24,388.00
EBAY INC US EBAY 669 $29,522.97
ELECTRONIC ARTS US EA 27,662 $3,509,477.94
EMERSON ELEC CO US EMR 768 $62,776.32
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 460,000 $464,969.56
EQUINIX INC US EQIX 6,680 $4,391,231.60
EQUITY LIFESTYLE PROPERTIES US ELS 3,274 $229,507.40
ESSEX PROPERTY TRUST INC US ESS 488 $129,349.28
EVERGY INC US EVRG 35,889 $2,459,473.17
EXPEDIA GROUP INC 3.25000 02/15/2030 US 200,000 $173,068.09
EXTRA SPACE STORAGE INC US EXR 396 $78,697.08
FMC CORP US FMC 30,037 $3,246,398.96
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 175,000 $175,641.42
META PLATFORMS INC US META 29,545 $4,813,766.85
FEDEX CORPORATION US FDX 7,663 $1,615,437.03
FIFTH THIRD BANCORP US FITB 1,214 $41,458.10
GENERAL DYNAMICS CORP US GD 346 $79,209.78
GENERAL MLS INC US GIS 875 $67,200.00
GENUINE PARTS CO US GPC 272 $42,434.72
GETTY REALTY CORP US GTY 2,473 $74,387.84
GILEAD SCIENCES INC US GILD 1,569 $99,584.43
GRAPHIC PACKAGING HOLDING CO US GPK 68,648 $1,528,790.96
GREENIDGE GEN HLD INC US 3,400 $47,634.00
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 16,721 $874,006.67
GRUPO AEROPORTUARIO PAC-ADR MX PAC 6,669 $950,799.33
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 4,568 $965,994.96
AIRBUS SE FR AIR FP 1,587 $155,515.13
ADIDAS AG DE ADS GR 2,058 $305,166.69
HCA INC 4.12500 06/15/2029 US 280,000 $260,128.73
HDFC BANK LTD-ADR IN HDB 53,682 $3,277,286.10
L'OREAL FR OR FP 210 $72,123.26
HEALTHCARE REALTY TRUST INC US HR 6,268 $152,437.76
HEINEKEN NV-SPN ADR NL HEINY 48,134 $2,162,179.28
HESKA CORP US HSKA 15,476 $1,409,399.32
HOME DEPOT INC US HD 765 $220,641.30
HONEYWELL INTERNATIONAL INC US HON 687 $130,083.45
HUMANA INC US HUM 3,838 $1,849,071.64
IIP OPERATING PARTNER 5.50000 05/25/2026 US 180,000 $160,332.59
IDEXX LABORATORIES INC US IDXX 7,614 $2,646,778.68
KERRY GROUP PLC-A IE KYGA ID 1,317 $135,811.31
ILLINOIS TOOL WKS INC US ITW 392 $76,373.36
INDEPENDENCE REALTY TRUST IN US IRT 2,779 $54,051.55
INSPERITY INC US NSP 24,490 $2,669,899.80
INTEL CORP US INTC 3,736 $119,253.12
INTERCONTINENTALEXCHANGE INC US ICE 26,950 $2,717,907.50
INTERNATIONAL FLVRS & FRAGRANCES US IFF 390 $43,087.20
INTUITIVE SURGICAL INC US ISRG 10,779 $2,217,671.46
INVITATION HOMES INC US INVH 5,876 $213,181.28
JP MORGAN CHASE & CO US JPM 20,335 $2,312,699.55
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 510,000 $496,081.25
JOHNSON & JOHNSON US JNJ 37,298 $6,017,659.32
KEYCORP US KEY 1,286 $22,749.34
KROGER CO US KR 1,081 $51,823.14
L3HARRIS TECHNOLOGIES INC US LHX 10,030 $2,288,745.70
BEIERSDORF AG DE BEI GR 3,197 $322,705.26
LENNAR CORP US LEN 379 $29,353.55
LIFE STORAGE INC US LSI 1,129 $143,665.25
LOCKHEED MARTIN CORP US LMT 275 $115,530.25
LULULEMON - ADR CA LULU 16,641 $4,991,634.36
MAGALLANES INC 4.05400 03/15/2029 US 480,000 $436,885.27
MARATHON PETROLEUM CORP US MPC 549 $55,311.75
MARRIOTT VACATIONS WORLD US VAC 517 $73,631.14
MASTERCARD INC-CLASS A US MA 21,629 $7,015,798.73
MCDONALDS CORP US MCD 475 $119,833.00
MERCADOLIBRE INC BR MELI 2,311 $1,976,736.96
MERCK & CO INC US MRK 2,220 $189,499.20
MICROSOFT CORP US MSFT 34,900 $9,125,303.00
MICROCHIP TECHNOLOGY INC US MCHP 622 $40,585.50
MID-AMERICA APARTMENT COMM US MAA 937 $155,232.79
MONDELEZ INTERNATIONAL INC US MDLZ 99,649 $6,164,287.14
MOODY'S CORPORATION US MCO 14,699 $4,182,159.48
MOTOROLA SOLUTIONS INC US MSI 244 $59,392.04
NAVIENT CORP 6.75000 06/25/2025 US 185,000 $178,601.84
NESTLE S.A. - ADR CH NSRGY 35,610 $4,168,506.60
NETAPP INC US NTAP 438 $31,592.94
KEYENCE CORP JP 6861 JP 600 $225,284.44
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 95,000 $91,850.96
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 210,000 $182,229.37
NEWMONT GOLDCORP CORP US NEM 16,991 $702,747.76
NIKE INC CLASS B US NKE 19,528 $2,078,755.60
NORFOLK SOUTHN CORP US NSC 9,441 $2,295,390.33
NIKON CORP JP 7731 JP 11,800 $134,699.63
NORTHROP GRUMMAN CORP US NOC 5,196 $2,483,636.04
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 145,000 $14.50
NOVARTIS AG- REG CH NVS 35,397 $2,850,166.44
NUCOR CORP US NUE 362 $48,124.28
NVIDIA CORP US NVDA 6,005 $906,394.70
OKTA INC US OKTA 16,556 $1,513,218.40
OMNICOM GROUP US OMC 409 $27,362.10
SONY CORP FIRST SECTION JP 6758 JP 2,500 $198,758.27
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 200,000 $178,948.91
PPG INDUSTRIES INC US PPG 256 $32,506.88
PACKAGING CORP OF AMERICA US PKG 198 $27,110.16
PARKER HANNIFIN CORP US PH 143 $37,895.00
DEUTSCHE BOERSE AG DE DB1 GR 1,637 $276,774.97
PAYPAL HOLDINGS INC US PYPL 50,044 $4,676,111.36
PELORUS FUND REIT 7.00000 09/30/2026 US 190,000 $176,899.11
NESTLE SA-REGISTERED CH NESN SW 4,227 $494,656.12
PEPSICO INC 3.90000 07/18/2032 US 370,000 $363,469.63
PFIZER INC US PFE 3,146 $142,293.58
PIONEER NATURAL RESOURCES CO US PXD 222 $56,214.84
POPULAR INC 6.12500 09/14/2023 PR 160,000 $162,048.99
PROCTER & GAMBLE CO US PG 1,699 $234,360.06
PROLOGIS US PLD 4,959 $617,445.09
PUBLIC STORAGE INC US PSA 868 $287,160.44
QUALCOMM INC US QCOM 1,058 $139,941.66
QUALCOMM INC 4.25000 05/20/2032 US 400,000 $404,752.10
QUEST DIAGNOSTICS INC US DGX 253 $31,703.43
RADIUS GLOBAL INFRASTRUCTURE US RADI 17,830 $245,519.10
REGIONS FINANCIAL CORP. US RF 1,744 $37,792.48
REPUBLIC SERVICES INC US RSG 456 $65,080.32
RESTAURANT BRANDS INTERN CA QSR 2,754 $162,486.00
REXFORD INDUSTRIAL REALITY IN US REXR 2,986 $185,759.06
GETINGE AB-B SHS SE GETIB SS 12,279 $227,426.12
ROSS STORES INC US ROST 403 $34,766.81
HEINEKEN NV NL HEIA NA 3,014 $270,895.50
RYANAIR HOLDINGS - ADR IE RYAAY 33,220 $2,415,426.20
S&P GLOBAL INC US SPGI 8,136 $2,865,336.48
SBA COMMUNICATIONS CORP US SBAC 16,261 $5,288,890.25
NAVIENT CORP 5.50000 01/25/2023 US 90,000 $89,579.06
SALESFORCE INC US CRM 38,053 $5,940,834.36
SEA LTD - ADR SG SE 45,842 $2,842,204.00
SEAGEN INC US SGEN 9,755 $1,505,098.95
SERVICENOW INC US NOW 12,813 $5,568,786.06
SHOPIFY INC CA SHOP 3,208 $101,533.20
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 630,000 $527,486.18
SKYWORKS SOLUTIONS INC US SWKS 220 $21,681.00
JM SMUCKER CO/THE-NEW COM WI US SJM 224 $31,357.76
SNOWFLAKE INC-CLASS A US SNOW 24,536 $4,439,789.20
SONY CORP SPONSORED ADR JP SONY 43,792 $3,474,895.20
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 370,000 $376,851.42
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 85,000 $84,575.59
STANLEY BLACK & DECKER INC US SWK 204 $17,972.40
STEEL DYNAMICS INC US STLD 374 $30,189.28
SUN COMMUNITIES US SUI 1,544 $237,328.24
SYNCHRONOSS TECH US 6,890 $149,650.80
SYNERGY ONE LENDING 5.50000 10/14/2026 US 175,000 $151,107.44
TJX COMPANIES INC US TJX 1,037 $64,656.95
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 31,494 $2,625,024.90
TARGET CORP US TGT 370 $59,325.80
TENCENT HOLDINGS 3.97500 04/11/2029 KY 810,000 $763,418.71
TERRENO REALTY CORP US TRNO 1,936 $118,076.64
TEXAS INSTRUMENTS INC US TXN 646 $106,725.66
THERMO FISHER SCIENTIFIC INC US TMO 5,977 $3,259,377.64
3M CO US MMM 655 $81,449.25
TRACTOR SUPPLY COMPANY US TSCO 159 $29,438.85
TRAVELLERS COS INC US TRV 336 $54,311.04
TYSON FOODS INC -CL A US TSN 556 $41,911.28
UDR INC US UDR 4,765 $213,805.55
U.S. BANCORP US USB 1,774 $80,912.14
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 197,071 $1,811,476.63
UNILEVER PLC - ADR GB UL 91,671 $4,160,946.69
UNION PAC CORP US UNP 610 $136,951.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 218,658.97 $184,203.77
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,815.46 $22,201.32
UNITED PARCEL SERVICE US UPS 9,816 $1,909,310.16
US TREASURY N/B 3.00000 05/15/2047 US 7,700,000 $7,028,656.25
US TREASURY N/B 3.12500 11/15/2028 US 13,140,000 $13,003,467.25
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 7,765,000 $7,678,250.43
UNITEDHEALTH GROUP INC US UNH 3,815 $1,981,243.95
UNIVERSAL DISPLAY CORP US OLED 22,640 $2,529,567.20
VF CORP US VFC 533 $22,092.85
VENTAS INC US VTR 1,792 $85,765.12
VERTEX PHARMACEUTICALS INC US VRTX 7,873 $2,218,296.48
PARAMOUNT GLOBAL CLASS B US PARA 879 $20,559.81
VISA INC - CLASS A SHARES US V 27,370 $5,438,692.70
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 90,000 $86,790.76
VISTRA OPERATIONS 4.87500 05/13/2024 US 340,000 $336,114.09
WAL MART STORES US WMT 1,967 $260,725.85
WALGREENS BOOTS ALLIANCE INC US WBA 979 $34,323.74
WASTE MANAGEMENT INC US WM 510 $86,205.30
WELLTOWER INC. US WELL 2,084 $159,738.60
ZOETIS INC US ZTS 6,532 $1,022,453.96
ADMIRAL GROUP PLC GB ADM LN 15,406 $378,969.02
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 7,500 $49,084.21
UBISOFT ENTERTAINMENT FR UBI FP 5,214 $240,443.91
DANONE FR BN FP 2,470 $129,972.18
AIR LIQUIDE FR AI FP 3,606 $451,878.05
BRENNTAG AG DE BNR GR 3,042 $199,456.33
KEYWORDS STUDIOS PLC IE KWS LN 2,385 $68,737.32
S4 CAPITAL PLC GB SFOR LN 119,867 $184,231.81
HELIOS TOWERS PLC GB HTWS LN 43,487 $62,319.90
AVANZA BANK HOLDING AB SE AZA SS 11,557 $185,247.51
AMERICAN TANKER INC 7.75000 07/02/2025 US 170,000 $164,352.20
SOFTWAREONE HOLDING AG CH SWON SW 16,099 $211,655.37
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 5,303 $84,052.55
SEASPAN CORP 6.50000 02/05/2024 MH 200,000 $198,493.47
PETROTAL CORP 12.00000 02/16/2024 CA 136,000 $138,720.00
FINECOBANK SPA IT FBK IM 35,443 $383,220.22
ALLFUNDS GROUP PLC GB ALLFG NA 19,609 $153,959.97
ROTORK PLC GB ROR LN 67,578 $193,868.29
AUTO TRADER GROUP PLC GB AUTO LN 49,289 $372,165.55
CELLNEX TELECOM SA ES CLNX SM 3,313 $129,017.27
ASSA ABLOY AB-B SE ASSAB SS 10,942 $221,618.98
CLEANAWAY WASTE MANAGEMENT AU CWY AU 144,710 $274,848.51
INTERMEDIATE CAPITAL GROUP GB ICP LN 13,789 $217,973.21
ADYEN NV NL ADYEN NA 212 $327,146.76
BANK OF N.T. BUTTERFIELD&SON BM NTB 4,325 $141,081.50
BUNGE LIMITED US BG 265 $26,280.05
EATON CORP PLC US ETN 519 $70,916.16
JOHNSON CONTROLS INTERNATIONAL US JCI 970 $52,515.80
MEDTRONIC INC IE MDT 75,224 $6,613,694.08
ROYALTY PHARMA PLC- CL A US RPRX 783 $32,737.23
STONECO LTD-A BR STNE 15,197 $144,067.56
TRANE TECHNOLOGIES IE TT 249 $38,363.43
ALCON INC CH ALC 28,843 $1,894,408.24
CHUBB LTD CH CB 478 $90,365.90
GARMIN LTD CH GRMN 341 $30,175.09
TE CONNECTIVITY LIMITED CH TEL 337 $42,532.77
LYONDELLBASELL INDU-CL A US LYB 370 $30,710.00
PLAYA HOTELS AND RESORTS US PLYA 5,469 $35,876.64
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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