Investment Objective

To provide equal emphasis on long-term capital growth and capital preservation.

Investment Strategy

The portfolio is invested in a moderately conservative mix of securities that seeks to balance growth and capital preservation for a more stable rate of return relative to an investment in the stock market. Holdings are diversified primarily among intermediate to long-term fixed income securities. Because this fund is designed to moderate risk, stocks will typically be a minority in the portfolio, unless the fund manager’s analysis shows that the stock market is especially attractive.

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 long-term capital growth and who seek to minimize extreme declines in account value
  • Who have a moderate tolerance for capital risk

About Our Risk-Based Funds

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

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 15+ Years 7-20 Years
15-45% 20-60% 40-70% 70-95%

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

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Daily Price

$17.00

Daily $ Change

-$0.02

Daily % Change

-0.12%

as of 08/04/2021

CUSIP

302027131

Inception Date

10/15/2013

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

Important Documents

Annual Report
Applications & Forms

Performance

As of 06/30/2021

YTD

6.30%

1 Year

17.88%

3 Year

11.55%

5 Year

9.32%

10 Year

7.09%

Inception
(01/01/2000)

7.05%

Performance through the inception date of the Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.50%
Net 0.49%*

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

Top Ten Investments

As of 06/30/2021

TREASURY NOTES 17.40%
GOVERNMENT AGENCY 5.13%
AMAZON.COM INC 2.01%
FACEBOOK INC -A 1.84%
ALPHABET INC-CL A 1.59%
MICROSOFT CORP 1.22%
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 1.18%
JOHNSON & JOHNSON 1.18%
VISA INC - CLASS A SHARES 1.15%
UNILEVER PLC - ADR 1.12%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2021

Bonds 51.14%
Stocks 46.42%
Cash 2.44%

Detailed Asset Class Allocation

As of 06/30/2021

International Equities 12.70%
Small Capitalization 0.60%
Mid Capitalization 5.06%
Large Capitalization 28.06%
Long Term Fixed Income 15.65%
Intermediate Term Fixed Income 30.91%
Short Term Fixed Income 4.58%
Cash 2.44%

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

June Fund Holdings

As of 06/30/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 870,000 $987,417.05
00507V109 ACTIVISION INC US ATVI 16,365 $1,561,875.60
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 80,000 $84,900.00
008474108 AGNICO EAGLE MINES LTD CA AEM 21,384 $1,292,662.80
008492100 AGREE REALTY CORP US ADC 1,516 $106,862.84
009126202 AIR LIQUIDE-ADR FR AIQUY 68,530 $2,408,144.20
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 1,000,000 $1,074,019.57
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 158,213.73 $177,455.73
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,980,000 $2,223,449.59
01879NAA3 ALLIANCE RES OP/FINANCE 7.50000 05/01/2025 US 75,000 $73,218.75
020002101 ALLSTATE CORPORATION US ALL 362 $47,219.28
02079K305 ALPHABET INC-CL A US GOOGL 2,708 $6,612,367.32
023135106 AMAZON.COM INC US AMZN 2,429 $8,356,148.64
0237400 DIAGEO PLC GB DGE LN 32,315 $1,548,810.40
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 2,083 $97,317.76
02665T306 AMERICAN HOMES 4 RENT- A US AMH 6,558 $254,778.30
03027X100 AMERICAN TOWER REIT INC US AMT 8,082 $2,183,271.48
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 2,140,000 $2,386,644.10
03064D108 AMERICOLD REALTY TRUST US COLD 3,179 $120,325.15
032654105 ANALOG DEVICES INC US ADI 366 $63,010.56
03784Y200 APPLE HOSPITALITY REIT INC US APLE 6,173 $94,199.98
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 125,000 $132,119.57
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 683 $41,389.80
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 920,000 $973,038.00
053015103 AUTOMATIC DATA PROCESSING US ADP 385 $76,468.70
053484101 AVALONBAY COMMUNITIES INC US AVB 884 $184,481.96
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 4,960,000 $4,911,807.05
055622104 BP PLC-SPONS ADR GB BP 33,058 $873,392.36
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 930,000 $1,064,701.20
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 4,000,000 $4,058,062.40
067901108 BARRICK GOLD CORP CA GOLD 75,413 $1,559,540.84
071734AM9 BAUSCH HEALTH COS INC 5.00000 02/15/2029 CA 125,000 $116,562.50
07403VAA7 BEASLEY MEZ HLDGS LLC 8.62500 02/01/2026 US 105,000 $106,050.00
084423102 WR BERKLEY CORP US WRB 24,540 $1,826,512.20
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 5,275 $1,466,028.00
086516101 BEST BUY INC US BBY 348 $40,013.04
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 35,041 $2,923,821.04
09261XAA0 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,070,000 $1,084,940.43
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 3,254 $196,704.98
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 235 $20,017.30
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 2,720,000 $2,748,723.20
105368203 BRANDYWINE REALTY TRUST US BDN 7,216 $98,931.36
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,666 $111,322.12
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 172 $27,783.16
12345678 JONAH ENERGY PARENT LLC US 4,706 $70,590.00
12467AAF5 C&S GROUP ENTERPRISES LL 5.00000 12/15/2028 US 125,000 $123,906.25
125269100 CF INDUSTRIES HOLDINGS INC US CF 382 $19,653.90
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 978,238.31 $994,376.31
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 832,154.05 $845,298.17
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 221 $20,701.07
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 101,946.55 $103,412.03
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 3,600,000 $3,875,541.84
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 1,900,000 $2,087,279.96
12598FAA7 CPI CG INC 8.62500 03/15/2026 US 115,000 $122,187.50
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 2,000,000 $2,144,240.20
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 300,880.5 $304,188.08
127097103 CABOT OIL & GAS CORP US COG 90,779 $1,585,001.34
133131102 CAMDEN PROPERTY TRUST US CPT 1,038 $137,711.46
133131AZ5 CAMDEN PROPERTY TRUST 2.80000 05/15/2030 US 1,810,000 $1,919,989.63
13321L108 CAMECO CORP CA CCJ 111,175 $2,132,336.50
134429109 CAMPBELL SOUP CO US CPB 471 $21,472.89
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 23,885 $2,520,345.20
14174T107 CARETRUST REIT INC US CTRE 2,690 $62,488.70
149123101 CATERPILLAR INC US CAT 442 $96,192.46
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 75,000 $84,187.50
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 3,679 $2,654,214.55
172062101 CINCINNATI FINANCIAL CORP US CINF 245 $28,571.90
17275R102 CISCO SYSTEMS INC US CSCO 2,726 $144,478.00
172967424 CITIGROUP INC US C 1,489 $105,346.75
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 1,700,000 $1,942,078.91
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 2,040,000 $2,023,394.40
189054109 CLOROX COMPANY US CLX 166 $29,865.06
191216100 COCA COLA CO/THE US KO 46,116 $2,495,336.76
194162103 COLGATE-PALMOLIVE CO US CL 814 $66,218.90
20030N101 COMCAST CORP-CL A US CMCSA 2,829 $161,309.58
200340107 COMERICA INC US CMA 235 $16,764.90
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,607 $123,728.22
205887102 CONAGRA BRAND INC. US CAG 727 $26,448.26
20825C104 CONOCOPHILLIPS US COP 41,797 $2,545,437.30
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 10,270 $197,286.70
217204106 COPART INC US CPRT 12,540 $1,653,148.20
222795502 COUSINS PROPERTIES INC US CUZ 6,066 $223,107.48
225310AM3 CREDIT ACCEPTANC 6.62500 03/15/2026 US 120,000 $126,300.00
22535GAB8 CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 1,950,000 $1,947,542.61
22822V101 CROWN CASTLE INTL CORP US CCI 333 $64,968.30
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 1,500,000 $1,592,566.22
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 194,207.65 $197,150.19
231021106 CUMMINS INC US CMI 183 $44,617.23
253868103 DIGITAL REALTY TRUST INC US DLR 1,680 $252,772.80
256677105 DOLLAR GENERAL CORP US DG 7,843 $1,697,146.77
256746108 DOLLAR TREE STORES INC US DLTR 15,729 $1,565,035.50
25960P109 DOUGLAS EMMETT INC US DEI 2,636 $88,622.32
26150TAE9 DRAWBRIDGE SPEC OPPOR FU 3.87500 02/15/2026 US 250,000 $259,317.53
264411505 DUKE RLTY INVTS INC US DRE 4,394 $208,055.90
267475AD3 DYCOM INDUSTRIES INC 4.50000 04/15/2029 US 125,000 $126,082.50
26875P101 EOG RESOURCES INC US EOG 20,472 $1,708,183.68
26884L109 EQT CORP US EQT 108,353 $2,411,937.78
2715777 QUEBECOR INC -CL B CA QBR/B CN 7,109 $189,596.27
277432100 EASTMAN CHEM CO US EMN 210 $24,517.50
285512109 ELECTRONIC ARTS US EA 11,525 $1,657,640.75
291011104 EMERSON ELEC CO US EMR 653 $62,844.72
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,410,000 $3,130,331.19
29275YAC6 ENERSYS 4.37500 12/15/2027 US 75,000 $78,051.75
29278MAC9 ENERGY VEB/ENVEN FIN 11.75000 04/15/2026 US 120,000 $125,145.60
29444U700 EQUINIX INC US EQIX 2,983 $2,394,155.80
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 2,803 $208,290.93
297178105 ESSEX PROPERTY TRUST INC US ESS 621 $186,306.21
30212P303 EXPEDIA INC US EXPE 23,959 $3,922,327.89
30212PBK0 EXPEDIA GROUP INC 4.62500 08/01/2027 US 960,000 $1,085,478.21
30225T102 EXTRA SPACE STORAGE INC US EXR 1,074 $175,942.68
30231G102 EXXON MOBIL CORP US XOM 20,777 $1,310,613.16
302491303 FMC CORP US FMC 19,665 $2,127,753.00
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 115,000 $118,737.50
30286XAN9 FREMF 2015-K43 B FLT 3.85979 02/25/2048 US 2,300,000 $2,494,025.93
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 98,680,932.37 $111,440.38
30303M102 FACEBOOK INC -A US FB 21,995 $7,647,881.45
303250104 FAIR ISAAC CORP US FICO 3,830 $1,925,264.40
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 30,124.96 $35,751.07
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 61,041.46 $71,101.56
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 216,975.82 $252,703.20
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 53,171.07 $62,713.58
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 72,065.47 $85,445.31
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 142,996.75 $166,556.95
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 55,838.23 $65,035.59
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 180,655.28 $213,671.53
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,966.49 $2,022.81
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 1,131.81 $1,140.85
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 1,002.14 $1,010.10
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 1,718.3 $1,755.48
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 2,408.68 $2,459.44
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 745,572.69 $809,918.86
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 135,838.71 $158,275.75
3132DWAG8 FEDERAL NATL MTG ASSN FR SD8107 2.50000 11/01/2050 US 3,093,324.46 $3,204,467.48
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 1,461,565.69 $1,612,779.55
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 300,862.19 $325,832.05
3133KYU98 FHLM POOL RB5108 2.00000 04/01/2041 US 3,158,333.28 $3,228,549.06
3136AY6W8 FNA 2017-M15 A1 FLT 3.05795 09/25/2027 US 1,295,860.92 $1,387,255.53
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 155,288.15 $159,827.14
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 276,116.78 $321,341.49
3137AJMG6 FMHS K016 X1 FLT 1.64991 10/25/2021 US 2,020,403.55 $79.81
3137AUPF0 FHMS K021 x1 FLT 1.52606 06/25/2022 US 13,933,853.85 $107,007.82
3137B3NB0 FHMS K030 X1 FLT 0.27352 04/25/2023 US 42,002,407.51 $104,909.41
3137B4GZ3 FHMS K032 X1 FLT 0.19884 05/25/2023 US 27,588,816.15 $55,152.80
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 54,662.51 $54,730.85
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 108,207.71 $121,470.82
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 851,804.12 $946,093.72
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64600 01/01/2049 US 1,385,107.55 $1,580,853.73
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 303,685.09 $352,122.60
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 319,330.04 $344,057.61
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 211,583.48 $225,484.82
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 748,746.25 $811,393.99
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 578,728.04 $622,396.44
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 123.14 $123.31
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 402 $403.27
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 2.1 $2.10
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 405.74 $408.16
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 191,086.82 $226,575.61
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 184,964.93 $215,420.88
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 55,598.45 $64,235.69
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 1.15 $1.15
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 371.04 $372.48
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 289,052.03 $315,426.47
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 349,874.89 $382,522.13
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 194,373.32 $205,140.19
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 3,364,976.4 $3,493,696.61
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 92,894.22 $110,288.24
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 40,777.04 $48,431.81
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 99,735.93 $116,157.46
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 181,275.83 $211,117.79
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 4,522.72 $4,724.61
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 273,421.6 $304,295.91
31620R303 FNF GROUP US FNF 492 $21,382.32
316773100 FIFTH THIRD BANCORP US FITB 913 $34,903.99
32054K103 FIRST INDUSTRIAL REALTY TR US FR 1,545 $80,695.35
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,240,000 $1,305,064.29
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 135,000 $166,437.45
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 85,000 $85,769.25
34960PAC5 FORTRESS TRANS & INFRAST 9.75000 08/01/2027 US 75,000 $86,718.75
357081AE8 FREMF 2015-K720 B FLT 3.51073 07/25/2022 US 970,000 $995,271.80
36257MAA3 GSMS 2019-70P A 1.07300 10/15/2036 US 1,000,000 $999,991.00
36262LAJ9 GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 950,000 $973,119.11
369550108 GENERAL DYNAMICS CORP US GD 295 $55,536.70
369604BQ5 GENERAL ELECTRIC CO 3.44888 01/21/2099 US 1,880,000 $1,848,980.00
370334104 GENERAL MLS INC US GIS 712 $43,382.16
372460105 GENUINE PARTS CO US GPC 223 $28,202.81
37255LAA5 GENWORTH MORTGAGE HLDING 6.50000 08/15/2025 US 115,000 $126,753.00
374297109 GETTY REALTY CORP US GTY 3,176 $98,932.40
375558103 GILEAD SCIENCES INC US GILD 1,131 $77,880.66
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,502,239.33 $1,548,100.59
382550BL4 GOODYEAR TIRE & RUBBER 5.00000 07/15/2029 US 125,000 $130,875.00
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 857,977.31 $886,735.08
384802104 WW GRAINGER INC US GWW 72 $31,536.00
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 178,720 $3,241,980.80
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 680 $72,685.20
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 510 $94,299.00
4012250 AIRBUS SE FR AIR FP 785 $101,149.48
4031976 ADIDAS AG DE ADS GR 355 $132,471.05
404119BX6 HCA INC 4.12500 06/15/2029 US 1,290,000 $1,453,948.73
416515104 HARTFORD FINL SVCS US HIG 472 $29,249.84
418751AE3 HAT HOLDINGS I LLC/HAT 3.37500 06/15/2026 US 120,000 $120,900.00
419792A22 HAWAII ST 2.68200 10/01/2030 US 1,170,000 $1,187,362.80
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 3,624 $96,760.80
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 3,906 $130,030.74
423012301 HEINEKEN NV-SPN ADR NL HEINY 26,640 $1,618,348.03
427866108 HERSHEY CO/THE US HSY 253 $44,067.54
42806MAA7 HERTZ 2021-1A A 1.21000 12/26/2025 US 1,300,000 $1,299,298.00
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 747 $90,103.14
437076102 HOME DEPOT INC US HD 600 $191,334.00
438516106 HONEYWELL INTERNATIONAL INC US HON 507 $111,210.45
44267DAE7 HOWARD HUGHES CORP 4.12500 02/01/2029 US 85,000 $84,985.55
443510607 HUBBELL INC US HUBB 96 $17,936.64
446150104 HUNTINGTON BANCSHARES US HBAN 1,540 $21,975.80
448579102 HYATT HOTEL US H 19,415 $1,507,380.60
44988FAC4 IIP OPERATING PARTNER 5.50000 05/25/2026 US 125,000 $128,673.40
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 130,000 $135,245.50
451102BX4 ICAHN ENTERPRISES/FIN 5.25000 05/15/2027 US 85,000 $87,762.50
45168D104 IDEXX LABORATORIES INC US IDXX 2,786 $1,759,498.30
4519579 KERRY GROUP PLC-A IE KYG ID 949 $132,680.22
452308109 ILLINOIS TOOL WKS INC US ITW 302 $67,515.12
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 120,000 $126,750.00
45778Q107 INSPERITY INC US NSP 16,760 $1,514,601.20
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 191 $36,484.82
458140100 INTEL CORP US INTC 2,466 $138,441.24
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 26,270 $3,118,249.00
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 707 $103,639.13
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 294 $43,923.60
46116VAE5 INTL FC STORE INC 8.62500 06/15/2025 US 115,000 $122,906.25
46187BAA1 IHSFR 2017-SFR2 A 0.93200 12/17/2036 US 464,049.34 $464,456.08
46187BAB9 IHSFR 2017-SFR2 B 1.23200 12/17/2036 US 389,934.28 $390,443.61
46187W107 INVITATION HOMES INC US INVH 9,656 $360,072.24
464288620 ISHARES BROAD USD INVESTMENT 1.54300 US 30,789 $1,865,505.51
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $249,405.60
46625H100 JP MORGAN CHASE & CO US JPM 1,209 $188,047.86
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 149,082.66 $151,200.13
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 144,254.75 $146,604.98
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 378,114.86 $386,622.07
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 2,410,000 $2,534,311.75
478160104 JOHNSON & JOHNSON US JNJ 29,810 $4,910,899.40
48088LAB3 JOSEPH T RYERSON & SON 8.50000 08/01/2028 US 108,000 $119,880.00
49427F108 KILROY REALTY CORP US KRC 2,053 $142,970.92
494368103 KIMBERLY CLARK CORP US KMB 360 $48,160.80
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,730,000 $2,474,396.32
500754106 KRAFT HEINZ CO/THE US KHC 1,289 $52,565.42
501044101 KROGER CO US KR 1,008 $38,616.48
502431109 L3HARRIS TECHNOLOGIES INC US LHX 226 $48,849.90
5107401 BEIERSDORF AG DE BEI GR 1,675 $202,182.52
512816109 LAMAR ADVERTISING CO-A US LAMR 625 $65,262.50
53223X107 LIFE STORAGE INC US LSI 1,308 $140,413.80
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 150,000 $162,915.00
539830109 LOCKHEED MARTIN CORP US LMT 231 $87,398.85
550021109 LULULEMON - ADR CA LULU 5,821 $2,124,490.37
552848AG8 MGIC INVESTMENT CORP 5.25000 08/15/2028 US 120,000 $127,200.00
57636Q104 MASTERCARD INC-CLASS A US MA 12,740 $4,651,246.60
5852842 ACCOR SA FR AC FP 3,077 $115,090.95
58933Y105 MERCK & CO INC US MRK 1,692 $131,586.84
59022CAJ2 MERRILL LYNCH 6.11000 01/29/2037 US 1,270,000 $1,740,010.11
594918104 MICROSOFT CORP US MSFT 18,737 $5,075,853.30
595112103 MICRON TECHNOLOGY INC US MU 18,955 $1,610,795.90
59522J103 MID-AMERICA APARTMENT COMM US MAA 1,823 $307,029.66
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 53,097 $3,315,376.68
615369105 MOODY'S CORPORATION US MCO 8,320 $3,014,918.40
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 120,000 $111,600.00
620076307 MOTOROLA SOLUTIONS INC US MSI 201 $43,586.85
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 130,000 $128,050.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 107,000 $230,540.51
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 145,000 $160,406.25
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 75,000 $82,875.00
64033QAB5 NSLT 2015-2A A2 0.69150 09/25/2047 US 1,447,214.55 $1,450,695.82
64110D104 NETAPP INC US NTAP 340 $27,818.80
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 120,000 $123,150.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 349,496.25 $372,512.74
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 418,564.59 $443,831.53
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 840,536.74 $892,689.10
6490995 KEYENCE CORP JP 6861 JP 200 $100,724.68
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 555,000 $568,497.60
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,050,000 $1,092,175.77
651639106 NEWMONT GOLDCORP CORP US NEM 24,948 $1,581,204.24
65341D102 NEXPOINT RESIDENTIAL US NXRT 1,143 $62,842.14
655844108 NORFOLK SOUTHN CORP US NSC 6,070 $1,611,038.70
6642321 NIKON CORP JP 7731 JP 160,400 $1,711,065.16
666807102 NORTHROP GRUMMAN CORP US NOC 167 $60,692.81
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 120,000 $126,324.00
66987V109 NOVARTIS AG- REG CH NVS 36,322 $3,314,019.28
670346105 NUCOR CORP US NUE 439 $42,113.27
67066G104 NVIDIA CORP US NVDA 2,529 $2,023,452.90
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 120,000 $127,566.00
6742340 SHANDONG WEIGAO CN 1066 HK 120,000 $279,911.18
681919106 OMNICOM GROUP US OMC 327 $26,156.73
6821506 SONY CORP FIRST SECTION JP 6758 JP 4,000 $387,869.05
68389X105 ORACLE CORP US ORCL 1,904 $148,207.36
68622V106 ORGANNON & CO US OGN 169 $5,113.94
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 980,000 $1,030,914.56
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 2,000,000 $2,058,463.40
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 351,870.69 $358,545.75
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 110,000 $118,662.50
695156109 PACKAGING CORP OF AMERICA US PKG 156 $21,125.52
7021963 DEUTSCHE BOERSE AG DE DB1 GR 1,980 $345,601.59
70450Y103 PAYPAL HOLDINGS INC US PYPL 13,370 $3,897,087.60
7123870 NESTLE SA-REGISTERED CH NESN SW 22,969 $2,863,018.81
723787107 PIONEER NATURAL RESOURCES CO US PXD 10,152 $1,649,903.04
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 150,000 $165,700.50
742718109 PROCTER & GAMBLE CO US PG 1,359 $183,369.87
74340W103 PROLOGIS US PLD 6,714 $802,524.42
74388JAD7 PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,160,020.78 $1,169,355.35
74460D109 PUBLIC STORAGE INC US PSA 1,205 $362,331.45
747525103 QUALCOMM INC US QCOM 813 $116,202.09
74834L100 QUEST DIAGNOSTICS INC US DGX 201 $26,525.97
749685103 RPM INTERNATIONAL INC US RPM 218 $19,332.24
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 80,000 $87,000.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 5,322 $77,169.00
756109104 REALTY INCOME CORP US O 813 $54,259.62
7591EP100 REGIONS FINANCIAL CORP. US RF 1,348 $27,202.64
759509102 RELIANCE STEEL & ALUMINUM US RS 114 $17,202.60
760759100 REPUBLIC SERVICES INC US RSG 387 $42,573.87
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,000 $128,880.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 3,249 $185,030.55
7698356 GETINGE AB-B SHS SE GETIB SS 6,757 $254,891.52
7792559 HEINEKEN NV NL HEIA NA 1,655 $200,916.10
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 14,750 $572,742.50
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 14,663 $1,586,683.23
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,736,458.61
78409V104 S&P GLOBAL INC US SPGI 2,817 $1,156,237.65
78410G104 SBA COMMUNICATIONS CORP US SBAC 13,390 $4,267,393.00
78442PGC4 SLM CORP 5.12500 04/05/2022 US 175,000 $178,281.25
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 1,606,906.12 $1,612,508.12
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,620,000 $3,102,643.33
79466L302 SALESFORCE.COM US CRM 6,625 $1,618,288.75
806857108 SCHLUMBERGER LTD NL SLB 4,052 $129,704.52
81141R100 SEA LTD - ADR SG SE 12,989 $3,566,779.40
81181C104 SEAGEN INC US SGEN 19,088 $3,013,613.44
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 509,149.46 $514,886.30
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 186,407.39 $188,619.34
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 239,080.54 $241,953.76
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 204,519.38 $205,863.38
81762P102 SERVICENOW INC US NOW 2,700 $1,483,785.00
82967NBJ6 SIRIUS XM RADIO INC 4.00000 07/15/2028 US 85,000 $87,640.10
831865209 SMITH (A.O.) CORP US AOS 280 $20,176.80
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 179 $23,193.03
833034101 SNAP-ON INC US SNA 89 $19,885.27
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 116,207.81 $118,837.08
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 565,530.83 $579,793.07
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 125,000 $132,500.00
835699307 SONY CORP SPONSORED ADR JP SONY 16,645 $1,618,226.90
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $794,501.40
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 1,930,000 $2,202,812.27
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 120,000 $124,800.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.54290 11/15/2027 US 1,506,780.74 $1,126,318.60
858119100 STEEL DYNAMICS INC US STLD 362 $21,575.20
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 155,000 $163,137.50
86184WAA4 STONEMOR INC 8.50000 05/15/2029 US 120,000 $121,350.00
866674104 SUN COMMUNITIES US SUI 1,858 $318,461.20
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 1,462,503.28 $1,468,538.15
87105L104 SWITCH INC - A US SWCH 12,544 $264,803.84
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 3,410 $85,250.00
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 160,000 $165,600.00
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,130 $135,780.80
87485LAC8 TALOS PRODUCTION 12.00000 01/15/2026 US 115,000 $121,900.00
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 3,610,000 $4,027,352.10
88146M101 TERRENO REALTY CORP US TRNO 1,889 $121,878.28
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,080 $1,553,767.60
88579Y101 3M CO US MMM 470 $93,356.10
88830MAL6 TITAN INTERNATIONAL INC 7.00000 04/30/2028 US 115,000 $120,318.75
89151E109 TOTALENERGIES SE SPON ADR FR TTE 16,345 $739,774.70
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 865,748.91 $879,649.11
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 463,779.38 $470,876.64
89177EAA7 TPMT 2019-HY1 A1 1.09150 10/25/2048 US 494,654.19 $498,173.80
89417E109 TRAVELLERS COS INC US TRV 294 $44,014.74
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 903,217.9 $923,311.43
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 1,590,468.75 $1,581,307.65
902494103 TYSON FOODS INC -CL A US TSN 474 $34,962.24
902653104 UDR INC US UDR 3,478 $170,352.44
902973304 U.S. BANCORP US USB 1,331 $75,827.07
904767704 UNILEVER PLC - ADR GB UL 79,887 $4,673,389.50
907818108 UNION PAC CORP US UNP 494 $108,645.42
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 85,099.72 $84,276.06
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 73,700.8 $76,103.02
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $225,788.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,085,000 $4,058,100.59
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,734,000 $4,442,001.42
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 21,330,000 $22,117,376.90
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 15,505,000 $16,425,003.75
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 11,835,000 $12,747,127.12
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 16,045,000 $16,946,277.81
92276F100 VENTAS INC US VTR 1,446 $82,566.60
92343V104 VERIZON COMMUNICATIONS US VZ 2,542 $142,428.26
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 2,880,000 $3,440,055.08
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,548 $4,344,723.24
92826C839 VISA INC - CLASS A SHARES US V 20,430 $4,776,942.60
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 125,000 $125,625.00
93065PAA9 WBHT 2019-WBM A FLT 1.12300 12/15/2033 US 1,045,000 $1,045,611.22
931142103 WAL MART STORES US WMT 1,355 $191,082.10
93114W107 WALMART DE MEXICO MX WMMVY 48,838 $1,598,956.12
94106L109 WASTE MANAGEMENT INC US WM 432 $60,527.52
95040Q104 WELLTOWER INC. US WELL 1,456 $120,993.60
963320106 WHIRLPOOL CORP US WHR 98 $21,365.96
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,160,000 $2,189,845.11
969904101 WILLIAMS - SONOMA INC US WSM 120 $19,158.00
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 167,068.25 $169,678.54
98978V103 ZOETIS INC US ZTS 4,595 $856,324.20
B02J639 ADMIRAL GROUP PLC GB ADM LN 8,695 $378,338.33
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $69,436.54
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 1,878 $131,211.56
B1Y9TB3 DANONE FR BN FP 4,025 $283,178.67
B1YXBJ7 AIR LIQUIDE FR AI FP 1,870 $327,904.57
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 7,882 $225,281.75
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 360,000 $297,020.62
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,000,000 $202,554.43
B4YVF56 BRENNTAG AG DE BNR GR 1,373 $127,788.44
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $52,951.74
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 2,505 $86,282.65
BFZZM64 S4 CAPITAL PLC GB SFOR LN 25,535 $221,825.71
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 40,590 $59,680.69
BJ2KSG2 AKZO NOBEL NL AKZA NA 895 $110,819.69
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $205,200.00
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 8,237 $194,870.30
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 34,706 $2,613,101.85
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 5,409 $95,739.30
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 100,000 $103,000.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 24,710 $431,222.19
BP3061408 AIRSWIFT GLOBAL AS FLT 8.66750 05/12/2025 NO 200,000 $198,000.00
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 17,230 $150,900.44
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 43,105 $140,792.94
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 3,211 $96,804.97
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 7,888 $232,011.02
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,722 $124,136.94
BZ1HM42 ADYEN NV NL ADYEN NA 64 $156,949.19
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,182 $112,801.90
G16962105 BUNGE LIMITED US BG 239 $18,677.85
G29183103 EATON CORP PLC US ETN 422 $62,531.96
G3223R108 EVEREST RE GROUP LTD BM RE 72 $18,144.72
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 934 $64,100.42
G5494J103 LINDE PLC GB LIN 381 $110,147.10
G5960L103 MEDTRONIC INC IE MDT 16,185 $2,009,044.05
G85158106 STONECO LTD-A BR STNE 2,695 $180,726.70
G97822103 PERRIGO CO PLC IE PRGO 4,510 $206,783.50
H01301128 ALCON INC CH ALC 46,235 $3,248,471.10
H1467J104 CHUBB LTD CH CB 423 $67,231.62
H2906T109 GARMIN LTD CH GRMN 248 $35,870.72
USD US DOLLAR US 10,375,379.07 $10,375,379.07
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $156,750.00
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $194,500.00

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$17.00

Daily $ Change

-$0.02

Daily % Change

-0.12%

as of 08/04/2021

CUSIP

302027131

Inception Date

10/15/2013

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide equal emphasis on long-term capital growth and capital preservation.

Investment Strategy

The portfolio is invested in a moderately conservative mix of securities that seeks to balance growth and capital preservation for a more stable rate of return relative to an investment in the stock market. Holdings are diversified primarily among intermediate to long-term fixed income securities. Because this fund is designed to moderate risk, stocks will typically be a minority in the portfolio, unless the fund manager’s analysis shows that the stock market is especially attractive.

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 long-term capital growth and who seek to minimize extreme declines in account value
  • Who have a moderate tolerance for capital risk

About Our Risk-Based Funds

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

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 15+ Years 7-20 Years
15-45% 20-60% 40-70% 70-95%

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

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Performance

As of 06/30/2021

YTD

6.30%

1 Year

17.88%

3 Year

11.55%

5 Year

9.32%

10 Year

7.09%

Inception
(01/01/2000)

7.05%

Performance through the inception date of the Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.50%
Net 0.49%*

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

Top Ten Investments

As of 06/30/2021

TREASURY NOTES 17.40%
GOVERNMENT AGENCY 5.13%
AMAZON.COM INC 2.01%
FACEBOOK INC -A 1.84%
ALPHABET INC-CL A 1.59%
MICROSOFT CORP 1.22%
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 1.18%
JOHNSON & JOHNSON 1.18%
VISA INC - CLASS A SHARES 1.15%
UNILEVER PLC - ADR 1.12%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 06/30/2021

Bonds
51.14%
Stocks
46.42%
Cash
2.44%

Detailed Asset Class Allocation

As of 06/30/2021

International Equities
12.70%
Small Capitalization
0.60%
Mid Capitalization
5.06%
Large Capitalization
28.06%
Long Term Fixed Income
15.65%
Intermediate Term Fixed Income
30.91%
Short Term Fixed Income
4.58%
Cash
2.44%

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

June Fund Holdings

As of 06/30/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 870,000 $987,417.05
00507V109 ACTIVISION INC US ATVI 16,365 $1,561,875.60
00842XAA7 AFFINITY GAMING 6.87500 12/15/2027 US 80,000 $84,900.00
008474108 AGNICO EAGLE MINES LTD CA AEM 21,384 $1,292,662.80
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615369105 MOODY'S CORPORATION US MCO 8,320 $3,014,918.40
61965RAA3 MOSS CREEK RESOURCES HLD 7.50000 01/15/2026 US 120,000 $111,600.00
620076307 MOTOROLA SOLUTIONS INC US MSI 201 $43,586.85
62913TAJ1 NGL ENRGY PART LP/FIN CO 7.50000 11/01/2023 US 130,000 $128,050.00
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 107,000 $230,540.51
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 145,000 $160,406.25
63938NAF1 NAVIOS SA LOGIST/FIN US 10.75000 07/01/2025 MUL 75,000 $82,875.00
64033QAB5 NSLT 2015-2A A2 0.69150 09/25/2047 US 1,447,214.55 $1,450,695.82
64110D104 NETAPP INC US NTAP 340 $27,818.80
644393AA8 NEW FORTRESS ENERGY INC 6.75000 09/15/2025 US 120,000 $123,150.00
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 349,496.25 $372,512.74
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 418,564.59 $443,831.53
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 840,536.74 $892,689.10
6490995 KEYENCE CORP JP 6861 JP 200 $100,724.68
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 555,000 $568,497.60
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,050,000 $1,092,175.77
651639106 NEWMONT GOLDCORP CORP US NEM 24,948 $1,581,204.24
65341D102 NEXPOINT RESIDENTIAL US NXRT 1,143 $62,842.14
655844108 NORFOLK SOUTHN CORP US NSC 6,070 $1,611,038.70
6642321 NIKON CORP JP 7731 JP 160,400 $1,711,065.16
666807102 NORTHROP GRUMMAN CORP US NOC 167 $60,692.81
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
66981QAA4 BRUNDAGE-BONE CONCRETE 6.00000 02/01/2026 US 120,000 $126,324.00
66987V109 NOVARTIS AG- REG CH NVS 36,322 $3,314,019.28
670346105 NUCOR CORP US NUE 439 $42,113.27
67066G104 NVIDIA CORP US NVDA 2,529 $2,023,452.90
67421QAA0 OASIS MIDSTREAM PARTNERS 8.00000 04/01/2029 US 120,000 $127,566.00
6742340 SHANDONG WEIGAO CN 1066 HK 120,000 $279,911.18
681919106 OMNICOM GROUP US OMC 327 $26,156.73
6821506 SONY CORP FIRST SECTION JP 6758 JP 4,000 $387,869.05
68389X105 ORACLE CORP US ORCL 1,904 $148,207.36
68622V106 ORGANNON & CO US OGN 169 $5,113.94
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 980,000 $1,030,914.56
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 2,000,000 $2,058,463.40
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 351,870.69 $358,545.75
69354NAC0 PRA GROUP INC 7.37500 09/01/2025 US 110,000 $118,662.50
695156109 PACKAGING CORP OF AMERICA US PKG 156 $21,125.52
7021963 DEUTSCHE BOERSE AG DE DB1 GR 1,980 $345,601.59
70450Y103 PAYPAL HOLDINGS INC US PYPL 13,370 $3,897,087.60
7123870 NESTLE SA-REGISTERED CH NESN SW 22,969 $2,863,018.81
723787107 PIONEER NATURAL RESOURCES CO US PXD 10,152 $1,649,903.04
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 150,000 $165,700.50
742718109 PROCTER & GAMBLE CO US PG 1,359 $183,369.87
74340W103 PROLOGIS US PLD 6,714 $802,524.42
74388JAD7 PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,160,020.78 $1,169,355.35
74460D109 PUBLIC STORAGE INC US PSA 1,205 $362,331.45
747525103 QUALCOMM INC US QCOM 813 $116,202.09
74834L100 QUEST DIAGNOSTICS INC US DGX 201 $26,525.97
749685103 RPM INTERNATIONAL INC US RPM 218 $19,332.24
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 80,000 $87,000.00
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 5,322 $77,169.00
756109104 REALTY INCOME CORP US O 813 $54,259.62
7591EP100 REGIONS FINANCIAL CORP. US RF 1,348 $27,202.64
759509102 RELIANCE STEEL & ALUMINUM US RS 114 $17,202.60
760759100 REPUBLIC SERVICES INC US RSG 387 $42,573.87
76131D103 RESTAURANT BRANDS INTERN CA QSR 2,000 $128,880.00
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 3,249 $185,030.55
7698356 GETINGE AB-B SHS SE GETIB SS 6,757 $254,891.52
7792559 HEINEKEN NV NL HEIA NA 1,655 $200,916.10
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 14,750 $572,742.50
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 14,663 $1,586,683.23
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,736,458.61
78409V104 S&P GLOBAL INC US SPGI 2,817 $1,156,237.65
78410G104 SBA COMMUNICATIONS CORP US SBAC 13,390 $4,267,393.00
78442PGC4 SLM CORP 5.12500 04/05/2022 US 175,000 $178,281.25
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 1,606,906.12 $1,612,508.12
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 2,620,000 $3,102,643.33
79466L302 SALESFORCE.COM US CRM 6,625 $1,618,288.75
806857108 SCHLUMBERGER LTD NL SLB 4,052 $129,704.52
81141R100 SEA LTD - ADR SG SE 12,989 $3,566,779.40
81181C104 SEAGEN INC US SGEN 19,088 $3,013,613.44
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 509,149.46 $514,886.30
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 186,407.39 $188,619.34
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 239,080.54 $241,953.76
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 204,519.38 $205,863.38
81762P102 SERVICENOW INC US NOW 2,700 $1,483,785.00
82967NBJ6 SIRIUS XM RADIO INC 4.00000 07/15/2028 US 85,000 $87,640.10
831865209 SMITH (A.O.) CORP US AOS 280 $20,176.80
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 179 $23,193.03
833034101 SNAP-ON INC US SNA 89 $19,885.27
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 116,207.81 $118,837.08
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 565,530.83 $579,793.07
83419MAA0 SOLARIS MIDSTREAM HOLDIN 7.62500 04/01/2026 US 125,000 $132,500.00
835699307 SONY CORP SPONSORED ADR JP SONY 16,645 $1,618,226.90
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $794,501.40
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 1,930,000 $2,202,812.27
85571BAL9 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 120,000 $124,800.00
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.54290 11/15/2027 US 1,506,780.74 $1,126,318.60
858119100 STEEL DYNAMICS INC US STLD 362 $21,575.20
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 155,000 $163,137.50
86184WAA4 STONEMOR INC 8.50000 05/15/2029 US 120,000 $121,350.00
866674104 SUN COMMUNITIES US SUI 1,858 $318,461.20
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 1,462,503.28 $1,468,538.15
87105L104 SWITCH INC - A US SWCH 12,544 $264,803.84
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 3,410 $85,250.00
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 160,000 $165,600.00
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,130 $135,780.80
87485LAC8 TALOS PRODUCTION 12.00000 01/15/2026 US 115,000 $121,900.00
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 3,610,000 $4,027,352.10
88146M101 TERRENO REALTY CORP US TRNO 1,889 $121,878.28
883556102 THERMO FISHER SCIENTIFIC INC US TMO 3,080 $1,553,767.60
88579Y101 3M CO US MMM 470 $93,356.10
88830MAL6 TITAN INTERNATIONAL INC 7.00000 04/30/2028 US 115,000 $120,318.75
89151E109 TOTALENERGIES SE SPON ADR FR TTE 16,345 $739,774.70
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 865,748.91 $879,649.11
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 463,779.38 $470,876.64
89177EAA7 TPMT 2019-HY1 A1 1.09150 10/25/2048 US 494,654.19 $498,173.80
89417E109 TRAVELLERS COS INC US TRV 294 $44,014.74
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 903,217.9 $923,311.43
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 1,590,468.75 $1,581,307.65
902494103 TYSON FOODS INC -CL A US TSN 474 $34,962.24
902653104 UDR INC US UDR 3,478 $170,352.44
902973304 U.S. BANCORP US USB 1,331 $75,827.07
904767704 UNILEVER PLC - ADR GB UL 79,887 $4,673,389.50
907818108 UNION PAC CORP US UNP 494 $108,645.42
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 85,099.72 $84,276.06
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 73,700.8 $76,103.02
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $225,788.00
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 3,085,000 $4,058,100.59
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 3,734,000 $4,442,001.42
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 21,330,000 $22,117,376.90
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 15,505,000 $16,425,003.75
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 11,835,000 $12,747,127.12
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 16,045,000 $16,946,277.81
92276F100 VENTAS INC US VTR 1,446 $82,566.60
92343V104 VERIZON COMMUNICATIONS US VZ 2,542 $142,428.26
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 2,880,000 $3,440,055.08
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 21,548 $4,344,723.24
92826C839 VISA INC - CLASS A SHARES US V 20,430 $4,776,942.60
92840VAH5 VISTRA OPERATIONS CO LLC 4.37500 05/01/2029 US 125,000 $125,625.00
93065PAA9 WBHT 2019-WBM A FLT 1.12300 12/15/2033 US 1,045,000 $1,045,611.22
931142103 WAL MART STORES US WMT 1,355 $191,082.10
93114W107 WALMART DE MEXICO MX WMMVY 48,838 $1,598,956.12
94106L109 WASTE MANAGEMENT INC US WM 432 $60,527.52
95040Q104 WELLTOWER INC. US WELL 1,456 $120,993.60
963320106 WHIRLPOOL CORP US WHR 98 $21,365.96
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 2,160,000 $2,189,845.11
969904101 WILLIAMS - SONOMA INC US WSM 120 $19,158.00
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 167,068.25 $169,678.54
98978V103 ZOETIS INC US ZTS 4,595 $856,324.20
B02J639 ADMIRAL GROUP PLC GB ADM LN 8,695 $378,338.33
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $69,436.54
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 1,878 $131,211.56
B1Y9TB3 DANONE FR BN FP 4,025 $283,178.67
B1YXBJ7 AIR LIQUIDE FR AI FP 1,870 $327,904.57
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 7,882 $225,281.75
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 360,000 $297,020.62
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,000,000 $202,554.43
B4YVF56 BRENNTAG AG DE BNR GR 1,373 $127,788.44
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $52,951.74
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 2,505 $86,282.65
BFZZM64 S4 CAPITAL PLC GB SFOR LN 25,535 $221,825.71
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 40,590 $59,680.69
BJ2KSG2 AKZO NOBEL NL AKZA NA 895 $110,819.69
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 200,000 $205,200.00
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 8,237 $194,870.30
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 34,706 $2,613,101.85
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 5,409 $95,739.30
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 100,000 $103,000.00
BNGN9Z1 FINECOBANK SPA IT FBK IM 24,710 $431,222.19
BP3061408 AIRSWIFT GLOBAL AS FLT 8.66750 05/12/2025 NO 200,000 $198,000.00
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 17,230 $150,900.44
BW1YVH8 WALMART DE MEXICO SAB DE CV MX WALMEX MM 43,105 $140,792.94
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 3,211 $96,804.97
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 7,888 $232,011.02
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,722 $124,136.94
BZ1HM42 ADYEN NV NL ADYEN NA 64 $156,949.19
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 3,182 $112,801.90
G16962105 BUNGE LIMITED US BG 239 $18,677.85
G29183103 EATON CORP PLC US ETN 422 $62,531.96
G3223R108 EVEREST RE GROUP LTD BM RE 72 $18,144.72
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 934 $64,100.42
G5494J103 LINDE PLC GB LIN 381 $110,147.10
G5960L103 MEDTRONIC INC IE MDT 16,185 $2,009,044.05
G85158106 STONECO LTD-A BR STNE 2,695 $180,726.70
G97822103 PERRIGO CO PLC IE PRGO 4,510 $206,783.50
H01301128 ALCON INC CH ALC 46,235 $3,248,471.10
H1467J104 CHUBB LTD CH CB 423 $67,231.62
H2906T109 GARMIN LTD CH GRMN 248 $35,870.72
USD US DOLLAR US 10,375,379.07 $10,375,379.07
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 150,000 $156,750.00
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,000 $194,500.00

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.


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