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 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Daily Price

$15.04

Daily $ Change

$0.12

Daily % Change

0.80%

as of 06/23/2022

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 05/31/2022

YTD

-9.70%

1 Year

-6.78%

3 Year

7.01%

5 Year

6.02%

10 Year

6.30%

Inception
(01/01/2000)

6.36%

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 05/31/2022

TREASURY NOTES 22.02%
GOVERNMENT AGENCY 5.64%
AMAZON.COM INC 2.15%
TREASURY BONDS 2.06%
JOHNSON & JOHNSON 1.43%
MICROSOFT CORP 1.40%
MASTERCARD INC-CLASS A 1.23%
SBA COMMUNICATIONS CORP 1.22%
TENCENT HOLDINGS 3.97500 04/11/2029 1.18%
META PLATFORMS INC 1.17%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds 54.80%
Stocks 38.81%
Cash 6.39%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 10.50%
Small Capitalization 0.60%
Mid Capitalization 2.83%
Large Capitalization 24.89%
Long Term Fixed Income 15.99%
Intermediate Term Fixed Income 29.10%
Short Term Fixed Income 9.70%
Cash 6.39%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 718 $84,336.28
ACTIVISION INC US ATVI 19,113 $1,488,520.44
ADIDAS AG-SPONSORED ADR DE ADDYY 12,857 $1,274,642.98
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 1,240,000 $1,087,427.21
ADYEN NV UNSPON ADR NL ADYEY 97,561 $1,510,244.28
AGREE REALTY CORP US ADC 1,316 $91,554.12
AIR LIQUIDE-ADR FR AIQUY 68,530 $2,392,382.30
AIR LEASE CORP 3.62500 04/01/2027 US 1,170,000 $1,112,664.90
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 126,322.71 $132,530.03
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,570,000 $2,237,553.46
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 700,000 $582,291.72
ALLSTATE CORPORATION US ALL 278 $37,999.82
ALPHABET INC-CL A US GOOGL 1,152 $2,621,076.48
AMAZON.COM INC US AMZN 3,326 $7,996,335.94
AMAZON.COM INC 3.30000 04/13/2027 US 2,330,000 $2,327,853.49
DIAGEO PLC GB DGE LN 29,450 $1,368,284.57
AMERICAN HOMES 4 RENT- A US AMH 4,686 $173,194.56
AMERICAN TOWER REIT INC US AMT 701 $179,547.13
ANALOG DEVICES INC US ADI 415 $69,886.00
APPLE HOSPITALITY REIT INC US APLE 15,973 $266,908.83
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 125,000 $126,450.14
ARCHER-DANIELS-MIDLAND CO US ADM 470 $42,685.40
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,170,000 $1,112,554.72
AUTOMATIC DATA PROCESSING US ADP 286 $63,760.84
AVALONBAY COMMUNITIES INC US AVB 1,113 $231,459.48
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 2,900,000 $2,512,952.11
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 930,000 $941,503.51
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,940,000 $1,697,327.50
BARRICK GOLD CORP CA GOLD 44,812 $918,197.88
BAXTER INTERNATIONAL INC US BAX 362 $27,530.10
BEST BUY INC US BBY 261 $21,417.66
BIOMARIN PHARMACEUTICAL INC US BMRN 35,041 $2,632,630.33
BLACKROCK INC US BLK 2,020 $1,351,541.60
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 1,260,000 $1,096,244.87
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,230,000 $1,118,984.64
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,296 $242,755.14
BRANDYWINE REALTY TRUST US BDN 7,944 $88,575.60
BRISTOL MYERS SQUIBB CO US BMY 1,266 $95,519.70
BROADRIDGE FINANCIAL SOLUTIONS US BR 141 $20,617.02
JONAH ENERGY PARENT LLC US 4,706 $252,523.96
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 943,516.09 $865,610.34
SORT 2020-1 A2 1.99000 07/15/2060 US 795,266.16 $698,318.20
C.H. ROBINSON WORLDWIDE INC US CHRW 182 $19,748.82
CIM 2019-INV1 A1 4.00000 02/25/2049 US 35,668.08 $35,626.56
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 3,600,000 $3,590,230.82
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 2,000,000 $1,963,055.58
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 219,109.04 $205,575.20
COTERRA ENERGY INC US CTRA 709 $24,339.97
CAMDEN PROPERTY TRUST US CPT 1,071 $153,677.79
CAMECO CORP CA CCJ 3,546 $86,770.62
CAMPBELL SOUP CO US CPB 407 $19,499.37
CANADIAN NATIONAL RAILWAY CO CA CNI 19,087 $2,171,718.86
CARETRUST REIT INC US CTRE 5,305 $98,301.65
CATERPILLAR INC US CAT 375 $80,943.75
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 2,960,000 $3,335,639.30
CENTURYLINK INC 7.50000 04/01/2024 US 380,000 $393,117.43
CHARTER COMMUNICATIONS INC-A US CHTR 5,130 $2,600,550.90
CHEVRON CORP US CVX 687 $119,991.42
CINCINNATI FINANCIAL CORP US CINF 191 $24,421.26
CISCO SYSTEMS INC US CSCO 2,339 $105,371.95
CITIGROUP INC US C 1,431 $76,429.71
CITIGROUP INC 1.46200 06/09/2027 US 1,860,000 $1,675,436.61
CLARK CNTY NV 1.51000 11/01/2028 US 2,040,000 $1,794,669.89
COCA COLA CO/THE US KO 40,532 $2,568,918.16
COLGATE-PALMOLIVE CO US CL 649 $51,147.69
COMCAST CORP-CL A US CMCSA 2,529 $111,984.12
COMMUNITY HEALTHCARE TRUST I US CHCT 2,763 $104,109.84
CONAGRA BRAND INC. US CAG 610 $20,062.90
CONOCOPHILLIPS US COP 638 $71,685.68
CONTROLADORA VUELA CIA DE AV MX VLRS 6,168 $96,097.44
COPART INC US CPRT 10,907 $1,249,178.71
COUSINS PROPERTIES INC US CUZ 6,543 $226,060.65
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 1,950,000 $1,829,406.23
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 1,500,000 $1,364,146.94
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 125,385.43 $114,299.60
CUMMINS INC US CMI 153 $31,995.36
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,060,000 $966,253.13
KIMBERLY CLARK DE MEXICO S.A.B. MX 117,500 $181,797.97
DEVON ENERGY CORPORATION US DVN 466 $34,903.40
DIAMONDBACK ENERGY INC US FANG 151 $22,955.02
DIGITAL REALTY TRUST INC US DLR 2,017 $281,553.03
DOLLAR GENERAL CORP US DG 6,999 $1,542,159.66
DOLLAR TREE STORES INC US DLTR 9,896 $1,586,625.68
DOW INC US DOW 501 $34,057.98
DUKE RLTY INVTS INC US DRE 4,565 $241,168.95
EOG RESOURCES INC US EOG 349 $47,799.04
EASTMAN CHEM CO US EMN 175 $19,278.00
EBAY INC US EBAY 446 $21,706.82
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 200,000 $189,521.93
ELECTRONIC ARTS US EA 11,525 $1,597,941.25
EMERSON ELEC CO US EMR 509 $45,127.94
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,410,000 $2,520,225.78
EQUINIX INC US EQIX 3,224 $2,215,178.16
EQUITY LIFESTYLE PROPERTIES US ELS 4,037 $305,600.90
ESSEX PROPERTY TRUST INC US ESS 685 $194,437.25
EXPEDIA GROUP INC 3.25000 02/15/2030 US 1,210,000 $1,069,932.63
EXTRA SPACE STORAGE INC US EXR 1,002 $178,556.40
FMC CORP US FMC 28,650 $3,511,917.00
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 410,000 $417,584.13
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 2,300,000 $2,260,636.17
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 94,715,014.44 $44,668.55
META PLATFORMS INC US FB 22,486 $4,354,189.04
FHLM POOL G03332 6.00000 10/01/2037 US 23,535.4 $26,064.60
FHLM POOL G05900 6.00000 03/01/2040 US 46,572.83 $51,872.09
FHLM POOL G05906 6.00000 04/01/2040 US 60,938.06 $67,335.05
FHLM POOL G06995 6.00000 05/01/2040 US 145,174.08 $160,968.85
FHLM POOL G13331 5.50000 10/01/2023 US 488.08 $496.16
FHLM POOL G12988 6.00000 01/01/2023 US 215.55 $216.16
FHLM POOL G13078 6.00000 03/01/2023 US 318.81 $320.00
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 461,939.54 $475,938.15
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 2,276,534.83 $2,190,287.94
FHLM POOL SD8230 4.50000 06/01/2052 US 1,900,000 $1,936,221.81
FHLM POOL G60034 4.50000 02/01/2045 US 1,097,426.79 $1,145,131.59
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 707,084.26 $705,379.15
FNR 2018-31 KP 3.50000 07/25/2047 US 39,222.06 $39,455.96
FHMS K030 X1 FLT 0.14558 04/25/2023 US 40,338,311.84 $46,910.63
FHMS K032 X1 FLT 0.06799 05/25/2023 US 26,600,618.86 $22,803.65
FHR 5189 CP 2.50000 06/25/2049 US 1,682,591.2 $1,564,609.72
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 82,391.24 $85,983.09
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 612,672.17 $639,381.66
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 1,050,187.75 $1,148,151.51
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 155,366.77 $154,694.64
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 492,315.7 $499,090.64
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 2,214,533.97 $2,202,306.80
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 38.26 $38.26
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 146,749.9 $162,528.13
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 237,827.52 $246,815.00
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 214,669.92 $222,782.28
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 127,235.18 $127,312.41
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,469,625.52 $2,323,010.72
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 2,287,782.64 $2,244,346.02
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 2,260,134.51 $2,263,066.47
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 2,270,000 $2,297,455.65
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 73,074.98 $80,567.71
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 32,452.89 $35,836.15
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 2,339.58 $2,412.05
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 199,860.98 $208,594.36
FEDEX CORPORATION US FDX 6,128 $1,376,226.24
FIFTH THIRD BANCORP US FITB 742 $29,257.06
FLX 2021-1A A2 3.25000 11/27/2051 US 1,720,000 $1,593,691.11
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,240,000 $1,194,933.28
FORD MOTOR CREDIT 3.08700 01/09/2023 US 205,000 $204,811.63
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 543,391.21 $543,317.86
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 829,402.71 $770,813.87
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 847,176.09 $785,698.06
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 1,078,190.43 $1,004,740.27
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,295,910.42 $1,197,809.72
GENERAL DYNAMICS CORP US GD 224 $50,379.84
GENERAL MLS INC US GIS 557 $38,906.45
GENUINE PARTS CO US GPC 173 $23,654.29
GETTY REALTY CORP US GTY 3,577 $99,941.38
GILEAD SCIENCES INC US GILD 979 $63,488.15
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,205,120.66 $1,104,762.43
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 344,700.66 $335,711.55
GRAPHIC PACKAGING HOLDING CO US GPK 114,249 $2,543,182.74
GREENIDGE GEN HLD INC US 8,400 $167,328.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 680 $102,258.40
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 510 $110,817.90
AIRBUS SE FR AIR FP 1,312 $153,760.90
ADIDAS AG DE ADS GR 1,525 $302,968.14
HCA INC 4.12500 06/15/2029 US 1,680,000 $1,635,389.65
L'OREAL FR OR FP 170 $60,045.96
HAWAII ST 2.68200 10/01/2038 US 1,170,000 $926,503.39
HEALTHCARE REALTY TRUST INC US HR 4,579 $133,111.53
HEALTHCARE TRUST OF AMERICA US HTA 3,140 $94,357.00
HEINEKEN NV-SPN ADR NL HEINY 26,640 $1,343,721.60
HOME DEPOT INC US HD 493 $149,255.75
HONEYWELL INTERNATIONAL INC US HON 449 $86,935.38
IDEXX LABORATORIES INC US IDXX 3,978 $1,557,864.36
KERRY GROUP PLC-A IE KYGA ID 1,111 $114,977.63
ILLINOIS TOOL WKS INC US ITW 264 $54,930.48
IMPRL 2021-NQM3 1.59500 11/25/2056 US 977,788.83 $928,253.95
INDEPENDENCE REALTY TRUST IN US IRT 4,740 $111,437.40
INTEL CORP US INTC 2,446 $108,651.32
INTERCONTINENTALEXCHANGE INC US ICE 29,736 $3,044,669.04
INTERNATIONAL FLVRS & FRAGRANCES US IFF 262 $34,628.54
INVITATION HOMES INC US INVH 7,580 $285,917.60
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $234,749.85
JP MORGAN CHASE & CO US JPM 1,416 $187,237.68
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 236,810.49 $229,188.08
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 2,780,000 $2,816,786.74
JOHNSON & JOHNSON US JNJ 29,729 $5,337,247.37
KEYCORP US KEY 872 $17,405.12
KROGER CO US KR 676 $35,807.72
L3HARRIS TECHNOLOGIES INC US LHX 6,250 $1,505,625.00
BEIERSDORF AG DE BEI GR 2,375 $246,504.47
LENNAR CORP US LEN 242 $19,420.50
LIFE STORAGE INC US LSI 1,760 $205,497.60
LOCKHEED MARTIN CORP US LMT 170 $74,818.70
LULULEMON - ADR CA LULU 5,663 $1,657,503.47
MAGALLANES INC 4.05400 03/15/2029 US 2,870,000 $2,751,296.34
ATOS SE FR ATO FP 7,932 $208,805.81
MARATHON PETROLEUM CORP US MPC 359 $36,542.61
MARRIOTT VACATIONS WORLD US VAC 748 $110,494.56
MASTERCARD INC-CLASS A US MA 12,740 $4,559,263.80
MCDONALDS CORP US MCD 294 $74,149.74
ACCOR SA FR AC FP 3,491 $114,870.49
MERCADOLIBRE INC AR MELI 236 $185,467.68
MERCK & CO INC US MRK 1,401 $128,934.03
MICROSOFT CORP US MSFT 19,098 $5,192,173.26
MICROCHIP TECHNOLOGY INC US MCHP 406 $29,495.90
MID-AMERICA APARTMENT COMM US MAA 1,419 $256,839.00
MONDELEZ INTERNATIONAL INC US MDLZ 52,855 $3,359,463.80
MOODY'S CORPORATION US MCO 8,320 $2,509,062.40
MOTOROLA SOLUTIONS INC US MSI 159 $34,938.66
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,220,197.76 $1,160,248.10
NAVIENT CORP 6.75000 06/25/2025 US 395,000 $398,687.31
NETAPP INC US NTAP 286 $20,577.70
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 271,269.32 $266,455.35
NRZT 2015-2A A1 3.75000 08/25/2055 US 315,155.97 $307,031.94
NRZT 2016-4A A1 3.75000 11/25/2056 US 623,716.9 $609,538.38
KEYENCE CORP JP 6861 JP 500 $198,788.29
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 555,000 $538,768.48
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,240,000 $1,127,135.92
NEWMONT GOLDCORP CORP US NEM 13,502 $916,110.70
NEXPOINT RESIDENTIAL US NXRT 1,350.83 $99,258.99
NORFOLK SOUTHN CORP US NSC 6,220 $1,490,685.20
NIKON CORP JP 7731 JP 20,800 $258,092.69
NORTHROP GRUMMAN CORP US NOC 3,369 $1,576,590.93
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
NOVARTIS AG- REG CH NVS 41,525 $3,776,283.50
NUCOR CORP US NUE 256 $33,909.76
OBX 2022-INV1 A1 3.00000 12/25/2051 US 1,335,931.01 $1,218,090.11
OMNICOM GROUP US OMC 288 $21,487.68
SONY CORP FIRST SECTION JP 6758 JP 2,400 $225,094.65
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,190,000 $1,108,125.47
OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,595,031.65 $1,585,832.15
OXFIN 2022-1A 3.60200 02/15/2030 US 1,650,000 $1,570,569.33
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 236,305.22 $224,658.38
PPG INDUSTRIES INC US PPG 172 $21,756.28
PACKAGING CORP OF AMERICA US PKG 126 $19,817.28
PARKER HANNIFIN CORP US PH 95 $25,856.15
DEUTSCHE BOERSE AG DE DB1 GR 1,980 $332,765.06
PAYPAL HOLDINGS INC US PYPL 28,336 $2,414,510.56
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,937,099.54 $1,864,134.62
NESTLE SA-REGISTERED CH NESN SW 22,969 $2,809,504.46
PFIZER INC US PFE 2,016 $106,928.64
PIONEER NATURAL RESOURCES CO US PXD 151 $41,968.94
POPULAR INC 6.12500 09/14/2023 PR 395,000 $399,470.69
PROCTER & GAMBLE CO US PG 1,081 $159,858.28
PROLOGIS US PLD 6,993 $891,467.64
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 1,609,241.53 $1,413,547.98
PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,017,499.63 $921,768.99
PUBLIC STORAGE INC US PSA 1,270 $419,912.80
QUALCOMM INC US QCOM 725 $103,834.50
QUALCOMM INC 4.25000 05/20/2032 US 2,200,000 $2,284,409.51
QUEST DIAGNOSTICS INC US DGX 162 $22,845.24
RCKT 2021-6 A1 2.50000 12/25/2051 US 2,126,960.51 $1,865,680.77
RADIUS GLOBAL INFRASTRUCTURE US RADI 23,349 $347,900.10
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 435,000 $420,948.83
REGIONS FINANCIAL CORP. US RF 1,138 $25,138.42
REPUBLIC SERVICES INC US RSG 294 $39,348.96
RESTAURANT BRANDS INTERN CA QSR 2,250 $118,147.50
REXFORD INDUSTRIAL REALITY IN US REXR 4,319 $275,854.53
GETINGE AB-B SHS SE GETIB SS 8,371 $242,936.53
ROSS STORES INC US ROST 262 $22,275.24
HEINEKEN NV NL HEIA NA 1,749 $175,867.31
RYANAIR HOLDINGS - ADR IE RYAAY 17,833 $1,555,037.60
SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,614,285.66
S&P GLOBAL INC US SPGI 2,817 $984,485.16
SBA COMMUNICATIONS CORP US SBAC 13,542 $4,558,372.62
NAVIENT CORP 5.50000 01/25/2023 US 205,000 $205,861.83
SMB 2020-BA A1A 1.29000 07/15/2053 US 1,160,296.98 $1,081,816.46
SALESFORCE INC US CRM 18,337 $2,938,320.88
SEA LTD - ADR SG SE 25,355 $2,095,844.30
SEAGEN INC US SGEN 23,748 $3,222,128.64
SEMT 2013-6 A2 3.00000 05/25/2043 US 336,041.07 $314,700.73
SEMT 2013-7 A2 3.00000 06/25/2043 US 139,750.96 $130,948.94
SEMT 2013-8 A1 3.00000 06/25/2043 US 162,711.03 $152,823.52
SEMT 2013-2 1.87400 02/25/2043 US 125,569.08 $113,722.77
SERVICENOW INC US NOW 5,667 $2,649,152.49
SHOPIFY INC CA SHOP 260 $97,531.20
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 3,720,000 $3,212,723.80
SKYWORKS SOLUTIONS INC US SWKS 152 $16,548.24
JM SMUCKER CO/THE-NEW COM WI US SJM 143 $17,927.91
SOFI 2017-F A2FX 2.84000 01/25/2041 US 61,839.02 $61,068.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 299,900.85 $297,855.69
SONY CORP SPONSORED ADR JP SONY 17,132 $1,611,607.24
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $693,243.86
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 1,930,000 $2,014,639.47
STANLEY BLACK & DECKER INC US SWK 142 $16,853.98
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 1,506,780.74 $1,035,754.24
STEEL DYNAMICS INC US STLD 261 $22,284.18
SUN COMMUNITIES US SUI 2,101 $344,837.13
SCML 2019-SBC8 2.86000 04/25/2041 US 1,212,768.38 $1,138,759.19
SYNCHRONOSS TECH US 15,410 $341,793.80
SYNERGY ONE LENDING 5.50000 10/14/2026 US 440,000 $392,482.36
TJX COMPANIES INC US TJX 648 $41,193.36
TACORA RESOURCES INC 8.25000 05/15/2026 CA 205,000 $195,591.68
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 18,750 $1,786,875.00
TARGET CORP US TGT 246 $39,822.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,540,000 $4,374,471.69
TERRENO REALTY CORP US TRNO 2,410 $146,311.10
TEXAS INSTRUMENTS INC US TXN 424 $74,946.24
THERMO FISHER SCIENTIFIC INC US TMO 2,708 $1,536,979.56
3M CO US MMM 435 $64,941.15
TPMT 2016-5 A1 2.50000 10/25/2056 US 340,627.75 $339,140.43
TPMT 2017-1 A1 2.75000 10/25/2056 US 196,927.93 $196,152.70
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 332,721.77 $329,409.29
TRACTOR SUPPLY COMPANY US TSCO 92 $17,237.12
TRAVELLERS COS INC US TRV 219 $39,209.76
TAH 2017-SFR2 A 2.92800 01/17/2036 US 861,695.66 $851,790.86
TCF 2021-1A 1.86000 03/20/2046 US 1,463,854.17 $1,284,405.76
TYSON FOODS INC -CL A US TSN 352 $31,542.72
UDR INC US UDR 5,203 $248,703.40
U.S. BANCORP US USB 1,145 $60,765.15
UNILEVER PLC - ADR GB UL 72,678 $3,512,527.74
UNION PAC CORP US UNP 399 $87,692.22
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 403,200.94 $362,928.83
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 64,642 $60,554.54
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $203,058.32
UNITED PARCEL SERVICE US UPS 7,823 $1,425,741.75
US TREASURY N/BB 3.87500 08/15/2040 US 8,575,000 $9,394,984.38
US TREASURY N/B 2.50000 02/15/2045 US 4,410,000 $3,818,095.31
US TREASURY N/B 2.00000 02/15/2050 US 4,870,000 $3,841,973.44
US TREASURY N/B 1.62500 05/15/2026 US 20,430,000 $19,531,399.32
US TREASURY N/B 2.50000 05/15/2024 US 9,835,000 $9,833,847.44
US TREASURY N/B 2.37500 05/15/2027 US 20,295,000 $19,855,803.62
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 19,955,000 $19,618,259.38
US TREASURY N/B 1.62500 05/15/2031 US 4,100,000 $3,707,937.50
VF CORP US VFC 346 $17,459.16
VENTAS INC US VTR 2,531 $143,608.94
VERTEX PHARMACEUTICALS INC US VRTX 10,839 $2,911,897.35
PARAMOUNT GLOBAL CLASS B US PARA 569 $19,533.77
VISA INC - CLASS A SHARES US V 20,430 $4,334,633.10
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 520,000 $510,428.07
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,825,000 $1,831,932.17
WAL MART STORES US WMT 1,198 $154,098.74
WALGREENS BOOTS ALLIANCE INC US WBA 654 $28,664.82
WASTE MANAGEMENT INC US WM 334 $52,942.34
WELLTOWER INC. US WELL 2,924 $260,499.16
WIN 2015-1 A1 3.50000 01/20/2045 US 91,223.26 $87,215.62
ZOETIS INC US ZTS 3,974 $679,275.82
BNY MELLON CASH RESERVE EOD FUND US 273.78 $273.78
ADMIRAL GROUP PLC GB ADM LN 10,350 $289,772.86
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $76,384.85
UBISOFT ENTERTAINMENT FR UBI FP 3,950 $207,663.65
DANONE FR BN FP 2,001 $117,733.89
AIR LIQUIDE FR AI FP 2,324 $407,090.15
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 360,000 $284,618.73
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,000,000 $203,217.04
BRENNTAG AG DE BNR GR 3,617 $279,871.06
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $48,080.09
KEYWORDS STUDIOS PLC IE KWS LN 2,079 $61,429.70
S4 CAPITAL PLC GB SFOR LN 43,369 $155,112.79
HELIOS TOWERS PLC GB HTWS LN 62,988 $90,245.51
AVANZA BANK HOLDING AB SE AZA SS 7,808 $188,112.52
AMERICAN TANKER INC 7.75000 07/02/2025 US 420,000 $399,000.00
SOFTWAREONE HOLDING AG CH SWON SW 13,128 $175,334.06
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,422 $131,220.96
SEASPAN CORP 6.50000 02/05/2024 MH 400,000 $398,994.04
PETROTAL CORP 12.00000 02/16/2024 CA 328,000 $337,840.00
FINECOBANK SPA IT FBK IM 24,635 $349,092.45
ALLFUNDS GROUP PLC GB ALLFG NA 13,936 $127,117.21
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 364,000 $363,771.61
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 400,000 $400,665.31
KENT GLOBAL PLC 10.00000 06/28/2026 GB 195,000 $193,050.00
ROTORK PLC GB ROR LN 51,257 $180,394.41
AUTO TRADER GROUP PLC GB AUTO LN 43,072 $320,420.00
CELLNEX TELECOM SA ES CLNX SM 1,988 $89,716.80
ASSA ABLOY AB-B SE ASSAB SS 11,028 $271,852.20
CLEANAWAY WASTE MANAGEMENT AU CWY AU 110,246 $236,268.71
INTERMEDIATE CAPITAL GROUP GB ICP LN 10,556 $209,580.83
ADYEN NV NL ADYEN NA 188 $291,149.12
BANK OF N.T. BUTTERFIELD&SON BM NTB 3,721 $117,509.18
BUNGE LIMITED US BG 185 $21,889.20
EATON CORP PLC US ETN 355 $49,203.00
JOHNSON CONTROLS INTERNATIONAL US JCI 638 $34,777.38
MEDTRONIC INC IE MDT 17,783 $1,780,967.45
ROYALTY PHARMA PLC- CL A US RPRX 494 $20,323.16
STONECO LTD-A BR STNE 13,284 $133,371.36
TRANE TECHNOLOGIES IE TT 169 $23,332.14
ALCON INC CH ALC 24,139 $1,803,907.47
CHUBB LTD CH CB 315 $66,556.35
GARMIN LTD CH GRMN 233 $24,609.46
TE CONNECTIVITY LIMITED CH TEL 234 $30,277.26
LYONDELLBASELL INDU-CL A US LYB 241 $27,534.25
PLAYA HOTELS AND RESORTS US PLYA 10,339 $89,328.96
US DOLLAR US 25,389,594.79 $25,389,594.79
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,456 $200,272.82

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

$15.04

Daily $ Change

$0.12

Daily % Change

0.80%

as of 06/23/2022

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 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.

Manning and Napier Risk-Based Funds Graphic

Learn more about our Pro-Mix® Series

Performance

As of 05/31/2022

YTD

-9.70%

1 Year

-6.78%

3 Year

7.01%

5 Year

6.02%

10 Year

6.30%

Inception
(01/01/2000)

6.36%

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 05/31/2022

TREASURY NOTES 22.02%
GOVERNMENT AGENCY 5.64%
AMAZON.COM INC 2.15%
TREASURY BONDS 2.06%
JOHNSON & JOHNSON 1.43%
MICROSOFT CORP 1.40%
MASTERCARD INC-CLASS A 1.23%
SBA COMMUNICATIONS CORP 1.22%
TENCENT HOLDINGS 3.97500 04/11/2029 1.18%
META PLATFORMS INC 1.17%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds
54.80%
Stocks
38.81%
Cash
6.39%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
10.50%
Small Capitalization
0.60%
Mid Capitalization
2.83%
Large Capitalization
24.89%
Long Term Fixed Income
15.99%
Intermediate Term Fixed Income
29.10%
Short Term Fixed Income
9.70%
Cash
6.39%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 718 $84,336.28
ACTIVISION INC US ATVI 19,113 $1,488,520.44
ADIDAS AG-SPONSORED ADR DE ADDYY 12,857 $1,274,642.98
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 1,240,000 $1,087,427.21
ADYEN NV UNSPON ADR NL ADYEY 97,561 $1,510,244.28
AGREE REALTY CORP US ADC 1,316 $91,554.12
AIR LIQUIDE-ADR FR AIQUY 68,530 $2,392,382.30
AIR LEASE CORP 3.62500 04/01/2027 US 1,170,000 $1,112,664.90
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 126,322.71 $132,530.03
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,570,000 $2,237,553.46
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 700,000 $582,291.72
ALLSTATE CORPORATION US ALL 278 $37,999.82
ALPHABET INC-CL A US GOOGL 1,152 $2,621,076.48
AMAZON.COM INC US AMZN 3,326 $7,996,335.94
AMAZON.COM INC 3.30000 04/13/2027 US 2,330,000 $2,327,853.49
DIAGEO PLC GB DGE LN 29,450 $1,368,284.57
AMERICAN HOMES 4 RENT- A US AMH 4,686 $173,194.56
AMERICAN TOWER REIT INC US AMT 701 $179,547.13
ANALOG DEVICES INC US ADI 415 $69,886.00
APPLE HOSPITALITY REIT INC US APLE 15,973 $266,908.83
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 125,000 $126,450.14
ARCHER-DANIELS-MIDLAND CO US ADM 470 $42,685.40
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,170,000 $1,112,554.72
AUTOMATIC DATA PROCESSING US ADP 286 $63,760.84
AVALONBAY COMMUNITIES INC US AVB 1,113 $231,459.48
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 2,900,000 $2,512,952.11
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 930,000 $941,503.51
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,940,000 $1,697,327.50
BARRICK GOLD CORP CA GOLD 44,812 $918,197.88
BAXTER INTERNATIONAL INC US BAX 362 $27,530.10
BEST BUY INC US BBY 261 $21,417.66
BIOMARIN PHARMACEUTICAL INC US BMRN 35,041 $2,632,630.33
BLACKROCK INC US BLK 2,020 $1,351,541.60
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 1,260,000 $1,096,244.87
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 1,230,000 $1,118,984.64
DECHRA PHARMACEUTICALS PLC GB DPH LN 5,296 $242,755.14
BRANDYWINE REALTY TRUST US BDN 7,944 $88,575.60
BRISTOL MYERS SQUIBB CO US BMY 1,266 $95,519.70
BROADRIDGE FINANCIAL SOLUTIONS US BR 141 $20,617.02
JONAH ENERGY PARENT LLC US 4,706 $252,523.96
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 943,516.09 $865,610.34
SORT 2020-1 A2 1.99000 07/15/2060 US 795,266.16 $698,318.20
C.H. ROBINSON WORLDWIDE INC US CHRW 182 $19,748.82
CIM 2019-INV1 A1 4.00000 02/25/2049 US 35,668.08 $35,626.56
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 3,600,000 $3,590,230.82
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 2,000,000 $1,963,055.58
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 219,109.04 $205,575.20
COTERRA ENERGY INC US CTRA 709 $24,339.97
CAMDEN PROPERTY TRUST US CPT 1,071 $153,677.79
CAMECO CORP CA CCJ 3,546 $86,770.62
CAMPBELL SOUP CO US CPB 407 $19,499.37
CANADIAN NATIONAL RAILWAY CO CA CNI 19,087 $2,171,718.86
CARETRUST REIT INC US CTRE 5,305 $98,301.65
CATERPILLAR INC US CAT 375 $80,943.75
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 2,960,000 $3,335,639.30
CENTURYLINK INC 7.50000 04/01/2024 US 380,000 $393,117.43
CHARTER COMMUNICATIONS INC-A US CHTR 5,130 $2,600,550.90
CHEVRON CORP US CVX 687 $119,991.42
CINCINNATI FINANCIAL CORP US CINF 191 $24,421.26
CISCO SYSTEMS INC US CSCO 2,339 $105,371.95
CITIGROUP INC US C 1,431 $76,429.71
CITIGROUP INC 1.46200 06/09/2027 US 1,860,000 $1,675,436.61
CLARK CNTY NV 1.51000 11/01/2028 US 2,040,000 $1,794,669.89
COCA COLA CO/THE US KO 40,532 $2,568,918.16
COLGATE-PALMOLIVE CO US CL 649 $51,147.69
COMCAST CORP-CL A US CMCSA 2,529 $111,984.12
COMMUNITY HEALTHCARE TRUST I US CHCT 2,763 $104,109.84
CONAGRA BRAND INC. US CAG 610 $20,062.90
CONOCOPHILLIPS US COP 638 $71,685.68
CONTROLADORA VUELA CIA DE AV MX VLRS 6,168 $96,097.44
COPART INC US CPRT 10,907 $1,249,178.71
COUSINS PROPERTIES INC US CUZ 6,543 $226,060.65
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 1,950,000 $1,829,406.23
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 1,500,000 $1,364,146.94
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 125,385.43 $114,299.60
CUMMINS INC US CMI 153 $31,995.36
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,060,000 $966,253.13
KIMBERLY CLARK DE MEXICO S.A.B. MX 117,500 $181,797.97
DEVON ENERGY CORPORATION US DVN 466 $34,903.40
DIAMONDBACK ENERGY INC US FANG 151 $22,955.02
DIGITAL REALTY TRUST INC US DLR 2,017 $281,553.03
DOLLAR GENERAL CORP US DG 6,999 $1,542,159.66
DOLLAR TREE STORES INC US DLTR 9,896 $1,586,625.68
DOW INC US DOW 501 $34,057.98
DUKE RLTY INVTS INC US DRE 4,565 $241,168.95
EOG RESOURCES INC US EOG 349 $47,799.04
EASTMAN CHEM CO US EMN 175 $19,278.00
EBAY INC US EBAY 446 $21,706.82
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 200,000 $189,521.93
ELECTRONIC ARTS US EA 11,525 $1,597,941.25
EMERSON ELEC CO US EMR 509 $45,127.94
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,410,000 $2,520,225.78
EQUINIX INC US EQIX 3,224 $2,215,178.16
EQUITY LIFESTYLE PROPERTIES US ELS 4,037 $305,600.90
ESSEX PROPERTY TRUST INC US ESS 685 $194,437.25
EXPEDIA GROUP INC 3.25000 02/15/2030 US 1,210,000 $1,069,932.63
EXTRA SPACE STORAGE INC US EXR 1,002 $178,556.40
FMC CORP US FMC 28,650 $3,511,917.00
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 410,000 $417,584.13
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 2,300,000 $2,260,636.17
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 94,715,014.44 $44,668.55
META PLATFORMS INC US FB 22,486 $4,354,189.04
FHLM POOL G03332 6.00000 10/01/2037 US 23,535.4 $26,064.60
FHLM POOL G05900 6.00000 03/01/2040 US 46,572.83 $51,872.09
FHLM POOL G05906 6.00000 04/01/2040 US 60,938.06 $67,335.05
FHLM POOL G06995 6.00000 05/01/2040 US 145,174.08 $160,968.85
FHLM POOL G13331 5.50000 10/01/2023 US 488.08 $496.16
FHLM POOL G12988 6.00000 01/01/2023 US 215.55 $216.16
FHLM POOL G13078 6.00000 03/01/2023 US 318.81 $320.00
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 461,939.54 $475,938.15
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 2,276,534.83 $2,190,287.94
FHLM POOL SD8230 4.50000 06/01/2052 US 1,900,000 $1,936,221.81
FHLM POOL G60034 4.50000 02/01/2045 US 1,097,426.79 $1,145,131.59
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 707,084.26 $705,379.15
FNR 2018-31 KP 3.50000 07/25/2047 US 39,222.06 $39,455.96
FHMS K030 X1 FLT 0.14558 04/25/2023 US 40,338,311.84 $46,910.63
FHMS K032 X1 FLT 0.06799 05/25/2023 US 26,600,618.86 $22,803.65
FHR 5189 CP 2.50000 06/25/2049 US 1,682,591.2 $1,564,609.72
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 82,391.24 $85,983.09
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 612,672.17 $639,381.66
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 1,050,187.75 $1,148,151.51
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 155,366.77 $154,694.64
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 492,315.7 $499,090.64
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 2,214,533.97 $2,202,306.80
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 38.26 $38.26
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 146,749.9 $162,528.13
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 237,827.52 $246,815.00
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 214,669.92 $222,782.28
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 127,235.18 $127,312.41
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,469,625.52 $2,323,010.72
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 2,287,782.64 $2,244,346.02
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 2,260,134.51 $2,263,066.47
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 2,270,000 $2,297,455.65
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 73,074.98 $80,567.71
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 32,452.89 $35,836.15
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 2,339.58 $2,412.05
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 199,860.98 $208,594.36
FEDEX CORPORATION US FDX 6,128 $1,376,226.24
FIFTH THIRD BANCORP US FITB 742 $29,257.06
FLX 2021-1A A2 3.25000 11/27/2051 US 1,720,000 $1,593,691.11
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,240,000 $1,194,933.28
FORD MOTOR CREDIT 3.08700 01/09/2023 US 205,000 $204,811.63
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 543,391.21 $543,317.86
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 829,402.71 $770,813.87
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 847,176.09 $785,698.06
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 1,078,190.43 $1,004,740.27
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,295,910.42 $1,197,809.72
GENERAL DYNAMICS CORP US GD 224 $50,379.84
GENERAL MLS INC US GIS 557 $38,906.45
GENUINE PARTS CO US GPC 173 $23,654.29
GETTY REALTY CORP US GTY 3,577 $99,941.38
GILEAD SCIENCES INC US GILD 979 $63,488.15
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,205,120.66 $1,104,762.43
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 344,700.66 $335,711.55
GRAPHIC PACKAGING HOLDING CO US GPK 114,249 $2,543,182.74
GREENIDGE GEN HLD INC US 8,400 $167,328.00
GRUPO AEROPORTUARIO PAC-ADR MX PAC 680 $102,258.40
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 510 $110,817.90
AIRBUS SE FR AIR FP 1,312 $153,760.90
ADIDAS AG DE ADS GR 1,525 $302,968.14
HCA INC 4.12500 06/15/2029 US 1,680,000 $1,635,389.65
L'OREAL FR OR FP 170 $60,045.96
HAWAII ST 2.68200 10/01/2038 US 1,170,000 $926,503.39
HEALTHCARE REALTY TRUST INC US HR 4,579 $133,111.53
HEALTHCARE TRUST OF AMERICA US HTA 3,140 $94,357.00
HEINEKEN NV-SPN ADR NL HEINY 26,640 $1,343,721.60
HOME DEPOT INC US HD 493 $149,255.75
HONEYWELL INTERNATIONAL INC US HON 449 $86,935.38
IDEXX LABORATORIES INC US IDXX 3,978 $1,557,864.36
KERRY GROUP PLC-A IE KYGA ID 1,111 $114,977.63
ILLINOIS TOOL WKS INC US ITW 264 $54,930.48
IMPRL 2021-NQM3 1.59500 11/25/2056 US 977,788.83 $928,253.95
INDEPENDENCE REALTY TRUST IN US IRT 4,740 $111,437.40
INTEL CORP US INTC 2,446 $108,651.32
INTERCONTINENTALEXCHANGE INC US ICE 29,736 $3,044,669.04
INTERNATIONAL FLVRS & FRAGRANCES US IFF 262 $34,628.54
INVITATION HOMES INC US INVH 7,580 $285,917.60
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $234,749.85
JP MORGAN CHASE & CO US JPM 1,416 $187,237.68
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 236,810.49 $229,188.08
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 2,780,000 $2,816,786.74
JOHNSON & JOHNSON US JNJ 29,729 $5,337,247.37
KEYCORP US KEY 872 $17,405.12
KROGER CO US KR 676 $35,807.72
L3HARRIS TECHNOLOGIES INC US LHX 6,250 $1,505,625.00
BEIERSDORF AG DE BEI GR 2,375 $246,504.47
LENNAR CORP US LEN 242 $19,420.50
LIFE STORAGE INC US LSI 1,760 $205,497.60
LOCKHEED MARTIN CORP US LMT 170 $74,818.70
LULULEMON - ADR CA LULU 5,663 $1,657,503.47
MAGALLANES INC 4.05400 03/15/2029 US 2,870,000 $2,751,296.34
ATOS SE FR ATO FP 7,932 $208,805.81
MARATHON PETROLEUM CORP US MPC 359 $36,542.61
MARRIOTT VACATIONS WORLD US VAC 748 $110,494.56
MASTERCARD INC-CLASS A US MA 12,740 $4,559,263.80
MCDONALDS CORP US MCD 294 $74,149.74
ACCOR SA FR AC FP 3,491 $114,870.49
MERCADOLIBRE INC AR MELI 236 $185,467.68
MERCK & CO INC US MRK 1,401 $128,934.03
MICROSOFT CORP US MSFT 19,098 $5,192,173.26
MICROCHIP TECHNOLOGY INC US MCHP 406 $29,495.90
MID-AMERICA APARTMENT COMM US MAA 1,419 $256,839.00
MONDELEZ INTERNATIONAL INC US MDLZ 52,855 $3,359,463.80
MOODY'S CORPORATION US MCO 8,320 $2,509,062.40
MOTOROLA SOLUTIONS INC US MSI 159 $34,938.66
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,220,197.76 $1,160,248.10
NAVIENT CORP 6.75000 06/25/2025 US 395,000 $398,687.31
NETAPP INC US NTAP 286 $20,577.70
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 271,269.32 $266,455.35
NRZT 2015-2A A1 3.75000 08/25/2055 US 315,155.97 $307,031.94
NRZT 2016-4A A1 3.75000 11/25/2056 US 623,716.9 $609,538.38
KEYENCE CORP JP 6861 JP 500 $198,788.29
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 555,000 $538,768.48
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,240,000 $1,127,135.92
NEWMONT GOLDCORP CORP US NEM 13,502 $916,110.70
NEXPOINT RESIDENTIAL US NXRT 1,350.83 $99,258.99
NORFOLK SOUTHN CORP US NSC 6,220 $1,490,685.20
NIKON CORP JP 7731 JP 20,800 $258,092.69
NORTHROP GRUMMAN CORP US NOC 3,369 $1,576,590.93
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
NOVARTIS AG- REG CH NVS 41,525 $3,776,283.50
NUCOR CORP US NUE 256 $33,909.76
OBX 2022-INV1 A1 3.00000 12/25/2051 US 1,335,931.01 $1,218,090.11
OMNICOM GROUP US OMC 288 $21,487.68
SONY CORP FIRST SECTION JP 6758 JP 2,400 $225,094.65
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 1,190,000 $1,108,125.47
OXFIN 2020-1A A2 3.10100 02/15/2028 US 1,595,031.65 $1,585,832.15
OXFIN 2022-1A 3.60200 02/15/2030 US 1,650,000 $1,570,569.33
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 236,305.22 $224,658.38
PPG INDUSTRIES INC US PPG 172 $21,756.28
PACKAGING CORP OF AMERICA US PKG 126 $19,817.28
PARKER HANNIFIN CORP US PH 95 $25,856.15
DEUTSCHE BOERSE AG DE DB1 GR 1,980 $332,765.06
PAYPAL HOLDINGS INC US PYPL 28,336 $2,414,510.56
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,937,099.54 $1,864,134.62
NESTLE SA-REGISTERED CH NESN SW 22,969 $2,809,504.46
PFIZER INC US PFE 2,016 $106,928.64
PIONEER NATURAL RESOURCES CO US PXD 151 $41,968.94
POPULAR INC 6.12500 09/14/2023 PR 395,000 $399,470.69
PROCTER & GAMBLE CO US PG 1,081 $159,858.28
PROLOGIS US PLD 6,993 $891,467.64
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 1,609,241.53 $1,413,547.98
PFMT 2021-2 A2A 2.00000 04/25/2051 US 1,017,499.63 $921,768.99
PUBLIC STORAGE INC US PSA 1,270 $419,912.80
QUALCOMM INC US QCOM 725 $103,834.50
QUALCOMM INC 4.25000 05/20/2032 US 2,200,000 $2,284,409.51
QUEST DIAGNOSTICS INC US DGX 162 $22,845.24
RCKT 2021-6 A1 2.50000 12/25/2051 US 2,126,960.51 $1,865,680.77
RADIUS GLOBAL INFRASTRUCTURE US RADI 23,349 $347,900.10
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 435,000 $420,948.83
REGIONS FINANCIAL CORP. US RF 1,138 $25,138.42
REPUBLIC SERVICES INC US RSG 294 $39,348.96
RESTAURANT BRANDS INTERN CA QSR 2,250 $118,147.50
REXFORD INDUSTRIAL REALITY IN US REXR 4,319 $275,854.53
GETINGE AB-B SHS SE GETIB SS 8,371 $242,936.53
ROSS STORES INC US ROST 262 $22,275.24
HEINEKEN NV NL HEIA NA 1,749 $175,867.31
RYANAIR HOLDINGS - ADR IE RYAAY 17,833 $1,555,037.60
SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,614,285.66
S&P GLOBAL INC US SPGI 2,817 $984,485.16
SBA COMMUNICATIONS CORP US SBAC 13,542 $4,558,372.62
NAVIENT CORP 5.50000 01/25/2023 US 205,000 $205,861.83
SMB 2020-BA A1A 1.29000 07/15/2053 US 1,160,296.98 $1,081,816.46
SALESFORCE INC US CRM 18,337 $2,938,320.88
SEA LTD - ADR SG SE 25,355 $2,095,844.30
SEAGEN INC US SGEN 23,748 $3,222,128.64
SEMT 2013-6 A2 3.00000 05/25/2043 US 336,041.07 $314,700.73
SEMT 2013-7 A2 3.00000 06/25/2043 US 139,750.96 $130,948.94
SEMT 2013-8 A1 3.00000 06/25/2043 US 162,711.03 $152,823.52
SEMT 2013-2 1.87400 02/25/2043 US 125,569.08 $113,722.77
SERVICENOW INC US NOW 5,667 $2,649,152.49
SHOPIFY INC CA SHOP 260 $97,531.20
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 3,720,000 $3,212,723.80
SKYWORKS SOLUTIONS INC US SWKS 152 $16,548.24
JM SMUCKER CO/THE-NEW COM WI US SJM 143 $17,927.91
SOFI 2017-F A2FX 2.84000 01/25/2041 US 61,839.02 $61,068.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 299,900.85 $297,855.69
SONY CORP SPONSORED ADR JP SONY 17,132 $1,611,607.24
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $693,243.86
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 1,930,000 $2,014,639.47
STANLEY BLACK & DECKER INC US SWK 142 $16,853.98
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 1,506,780.74 $1,035,754.24
STEEL DYNAMICS INC US STLD 261 $22,284.18
SUN COMMUNITIES US SUI 2,101 $344,837.13
SCML 2019-SBC8 2.86000 04/25/2041 US 1,212,768.38 $1,138,759.19
SYNCHRONOSS TECH US 15,410 $341,793.80
SYNERGY ONE LENDING 5.50000 10/14/2026 US 440,000 $392,482.36
TJX COMPANIES INC US TJX 648 $41,193.36
TACORA RESOURCES INC 8.25000 05/15/2026 CA 205,000 $195,591.68
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 18,750 $1,786,875.00
TARGET CORP US TGT 246 $39,822.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,540,000 $4,374,471.69
TERRENO REALTY CORP US TRNO 2,410 $146,311.10
TEXAS INSTRUMENTS INC US TXN 424 $74,946.24
THERMO FISHER SCIENTIFIC INC US TMO 2,708 $1,536,979.56
3M CO US MMM 435 $64,941.15
TPMT 2016-5 A1 2.50000 10/25/2056 US 340,627.75 $339,140.43
TPMT 2017-1 A1 2.75000 10/25/2056 US 196,927.93 $196,152.70
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 332,721.77 $329,409.29
TRACTOR SUPPLY COMPANY US TSCO 92 $17,237.12
TRAVELLERS COS INC US TRV 219 $39,209.76
TAH 2017-SFR2 A 2.92800 01/17/2036 US 861,695.66 $851,790.86
TCF 2021-1A 1.86000 03/20/2046 US 1,463,854.17 $1,284,405.76
TYSON FOODS INC -CL A US TSN 352 $31,542.72
UDR INC US UDR 5,203 $248,703.40
U.S. BANCORP US USB 1,145 $60,765.15
UNILEVER PLC - ADR GB UL 72,678 $3,512,527.74
UNION PAC CORP US UNP 399 $87,692.22
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 403,200.94 $362,928.83
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 64,642 $60,554.54
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 200,000 $203,058.32
UNITED PARCEL SERVICE US UPS 7,823 $1,425,741.75
US TREASURY N/BB 3.87500 08/15/2040 US 8,575,000 $9,394,984.38
US TREASURY N/B 2.50000 02/15/2045 US 4,410,000 $3,818,095.31
US TREASURY N/B 2.00000 02/15/2050 US 4,870,000 $3,841,973.44
US TREASURY N/B 1.62500 05/15/2026 US 20,430,000 $19,531,399.32
US TREASURY N/B 2.50000 05/15/2024 US 9,835,000 $9,833,847.44
US TREASURY N/B 2.37500 05/15/2027 US 20,295,000 $19,855,803.62
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 19,955,000 $19,618,259.38
US TREASURY N/B 1.62500 05/15/2031 US 4,100,000 $3,707,937.50
VF CORP US VFC 346 $17,459.16
VENTAS INC US VTR 2,531 $143,608.94
VERTEX PHARMACEUTICALS INC US VRTX 10,839 $2,911,897.35
PARAMOUNT GLOBAL CLASS B US PARA 569 $19,533.77
VISA INC - CLASS A SHARES US V 20,430 $4,334,633.10
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 520,000 $510,428.07
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,825,000 $1,831,932.17
WAL MART STORES US WMT 1,198 $154,098.74
WALGREENS BOOTS ALLIANCE INC US WBA 654 $28,664.82
WASTE MANAGEMENT INC US WM 334 $52,942.34
WELLTOWER INC. US WELL 2,924 $260,499.16
WIN 2015-1 A1 3.50000 01/20/2045 US 91,223.26 $87,215.62
ZOETIS INC US ZTS 3,974 $679,275.82
BNY MELLON CASH RESERVE EOD FUND US 273.78 $273.78
ADMIRAL GROUP PLC GB ADM LN 10,350 $289,772.86
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 10,600 $76,384.85
UBISOFT ENTERTAINMENT FR UBI FP 3,950 $207,663.65
DANONE FR BN FP 2,001 $117,733.89
AIR LIQUIDE FR AI FP 2,324 $407,090.15
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 360,000 $284,618.73
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 4,000,000 $203,217.04
BRENNTAG AG DE BNR GR 3,617 $279,871.06
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $48,080.09
KEYWORDS STUDIOS PLC IE KWS LN 2,079 $61,429.70
S4 CAPITAL PLC GB SFOR LN 43,369 $155,112.79
HELIOS TOWERS PLC GB HTWS LN 62,988 $90,245.51
AVANZA BANK HOLDING AB SE AZA SS 7,808 $188,112.52
AMERICAN TANKER INC 7.75000 07/02/2025 US 420,000 $399,000.00
SOFTWAREONE HOLDING AG CH SWON SW 13,128 $175,334.06
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,422 $131,220.96
SEASPAN CORP 6.50000 02/05/2024 MH 400,000 $398,994.04
PETROTAL CORP 12.00000 02/16/2024 CA 328,000 $337,840.00
FINECOBANK SPA IT FBK IM 24,635 $349,092.45
ALLFUNDS GROUP PLC GB ALLFG NA 13,936 $127,117.21
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 364,000 $363,771.61
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 400,000 $400,665.31
KENT GLOBAL PLC 10.00000 06/28/2026 GB 195,000 $193,050.00
ROTORK PLC GB ROR LN 51,257 $180,394.41
AUTO TRADER GROUP PLC GB AUTO LN 43,072 $320,420.00
CELLNEX TELECOM SA ES CLNX SM 1,988 $89,716.80
ASSA ABLOY AB-B SE ASSAB SS 11,028 $271,852.20
CLEANAWAY WASTE MANAGEMENT AU CWY AU 110,246 $236,268.71
INTERMEDIATE CAPITAL GROUP GB ICP LN 10,556 $209,580.83
ADYEN NV NL ADYEN NA 188 $291,149.12
BANK OF N.T. BUTTERFIELD&SON BM NTB 3,721 $117,509.18
BUNGE LIMITED US BG 185 $21,889.20
EATON CORP PLC US ETN 355 $49,203.00
JOHNSON CONTROLS INTERNATIONAL US JCI 638 $34,777.38
MEDTRONIC INC IE MDT 17,783 $1,780,967.45
ROYALTY PHARMA PLC- CL A US RPRX 494 $20,323.16
STONECO LTD-A BR STNE 13,284 $133,371.36
TRANE TECHNOLOGIES IE TT 169 $23,332.14
ALCON INC CH ALC 24,139 $1,803,907.47
CHUBB LTD CH CB 315 $66,556.35
GARMIN LTD CH GRMN 233 $24,609.46
TE CONNECTIVITY LIMITED CH TEL 234 $30,277.26
LYONDELLBASELL INDU-CL A US LYB 241 $27,534.25
PLAYA HOTELS AND RESORTS US PLYA 10,339 $89,328.96
US DOLLAR US 25,389,594.79 $25,389,594.79
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 200,456 $200,272.82

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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