Collective Investment Trust

Pro-Mix® Moderate Term CIT

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.

Learn more about our Pro-Mix® Series

Daily Price

$15.55

Daily $ Change

-$0.09

Daily % Change

-0.58%

as of 06/07/2023

CUSIP

302027131

Inception Date

10/15/2013

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Performance

As of 05/31/2023

YTD

5.35%

1 Year

0.13%

3 Year

3.10%

5 Year

5.14%

10 Year

4.86%

Inception
(10/15/2013)

6.09%

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.

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.

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 05/31/2023

TREASURY NOTES 23.80%
GOVERNMENT AGENCY 9.99%
TREASURY BILLS 5.11%
TREASURY BONDS 3.98%
AMAZON.COM INC 1.63%
META PLATFORMS INC 1.44%
MASTERCARD INC-CLASS A 1.34%
ALPHABET INC-CL A 1.28%
MICRON TECHNOLOGY INC 1.28%
JOHNSON & JOHNSON 1.20%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Bonds
61.87%
Stocks
35.48%
Cash
2.65%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
9.49%
Small Capitalization
0.34%
Mid Capitalization
3.61%
Large Capitalization
22.04%
Long Term Fixed Income
12.70%
Intermediate Term Fixed Income
42.80%
Short Term Fixed Income
6.37%
Cash
2.65%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 631 $58,878.61
ABBOTT LABORATORIES US ABT 1,187 $121,074.00
ADMIRAL GROUP PLC GB AMIGY 52,697 $1,523,470.27
ADMIRAL GROUP PLC GB ADM LN 14,626 $423,668.87
ADYEN NV NL ADYEN NA 79 $129,389.53
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 240,000 $208,069.68
AGREE REALTY CORP US ADC 3,929 $253,381.21
AIR LIQUIDE FR AI FP 2,074 $347,504.40
AIR LIQUIDE-ADR FR AIQUY 75,383 $2,526,838.16
AIRBUS SE FR AIR FP 1,651 $216,818.06
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 96,113.19 $97,426.77
ALCON INC CH ALC 24,139 $1,868,117.21
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 700,000 $574,982.44
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,570,000 $2,176,821.74
ALPHABET INC-CL A US GOOGL 40,571 $4,984,958.77
AMAZON.COM INC US AMZN 52,409 $6,319,477.22
AMAZON.COM INC 3.30000 04/13/2027 US 2,330,000 $2,247,013.56
AMERICAN HOMES 4 RENT- A US AMH 2,935 $100,611.80
AMERICAN TANKER INC 7.75000 07/02/2025 US 420,000 $403,624.47
AMERICAN TOWER REIT INC US AMT 984 $181,488.96
AMERICOLD REALTY TRUST US COLD 8,522 $249,694.60
ANALOG DEVICES INC US ADI 577 $102,527.13
APARTMENT INCOME REIT CO US AIRC 2,830 $98,172.70
APPLIED MATERIALS INC US AMAT 12,908 $1,720,636.40
ARCHER-DANIELS-MIDLAND CO US ADM 705 $49,808.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,170,000 $1,084,099.31
ASTRAZENECA GB AZN 3,818 $279,019.44
ATLASSIAN CORP PLC-CLASS A AU TEAM 726 $131,253.54
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 20,134 $107,612.58
AUTO TRADER GROUP PLC GB AUTO LN 49,624 $389,450.31
AVALONBAY COMMUNITIES INC US AVB 907 $157,799.86
AVANZA BANK HOLDING AB SE AZA SS 7,289 $151,355.13
BAE SYSTEMS PLC GB BA/ LN 31,962 $369,402.31
BAE SYSTEMS PLC -SPON ADR GB BAESY 29,376 $1,380,378.24
BANK OF AMERICA CORP US BAC 4,452 $123,721.08
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,940,000 $1,602,480.66
BARRICK GOLD CORP CA GOLD 65,551 $1,106,500.88
BAXTER INTERNATIONAL INC US BAX 685 $27,893.20
BEIERSDORF AG DE BEI GR 2,177 $277,806.17
BIOMARIN PHARMACEUTICAL INC US BMRN 23,737 $2,063,694.78
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,070,000 $1,028,266.54
BRANDYWINE REALTY TRUST US BDN 9,226 $35,981.40
BRISTOL MYERS SQUIBB CO US BMY 1,804 $116,249.76
BROADCOM INC US AVGO 223 $180,175.08
BROADRIDGE FINANCIAL SOLUTIONS US BR 210 $30,811.20
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 185,368 $159,260.44
BUNGE LIMITED US BG 273 $25,290.72
C.H. ROBINSON WORLDWIDE INC US CHRW 273 $25,809.42
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 1,950,000 $1,823,697.82
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 375,000 $379,893.75
CAMPBELL SOUP CO US CPB 589 $29,773.95
CANADIAN NATIONAL RAILWAY CO CA CNI 14,239 $1,605,162.47
CARETRUST REIT INC US CTRE 7,771 $150,757.40
CATERPILLAR INC US CAT 560 $115,220.00
CBOE GLOBAL MARKETS INC US CBOE 10,858 $1,437,816.36
CELLNEX TELECOM SA ES CLNX SM 7,498 $303,860.02
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 9,649 $195,102.78
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,195,000 $1,250,984.52
CHEVRON CORP US CVX 1,103 $166,133.86
CIM 2019-INV1 A1 4.00000 02/25/2049 US 27,855.14 $27,006.51
CISCO SYSTEMS INC US CSCO 3,283 $163,066.61
CITIGROUP INC US C 2,003 $88,772.96
CITIGROUP INC 1.46200 06/09/2027 US 1,860,000 $1,658,081.97
CLARK CNTY NV 1.51000 11/01/2028 US 2,040,000 $1,748,093.48
CLEANAWAY WASTE MANAGEMENT AU CWY AU 120,995 $204,446.51
COCA COLA CO/THE US KO 40,532 $2,418,139.12
COGNIZANT TECH SOLUTIONS - A US CTSH 551 $34,431.99
COLGATE-PALMOLIVE CO US CL 970 $72,148.60
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,060,000 $925,018.37
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 1,350,000 $1,267,709.37
COMCAST CORP-CL A US CMCSA 3,468 $136,465.80
COMMUNITY HEALTHCARE TRUST I US CHCT 3,727 $122,245.60
CONAGRA BRAND INC. US CAG 868 $30,267.16
CONOCOPHILLIPS US COP 952 $94,533.60
COPART INC US CPRT 21,814 $1,910,688.26
CORNING INC US GLW 940 $28,961.40
COTERRA ENERGY INC US CTRA 1,137 $26,435.25
COUSINS PROPERTIES INC US CUZ 6,492 $129,320.64
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 204,158.03 $175,339.73
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 115,793.51 $98,112.33
CSX CORP US CSX 51,005 $1,564,323.35
CUMMINS INC US CMI 235 $48,036.35
CVS HEALTH CORP US CVS 922 $62,723.66
DANONE FR BN FP 2,001 $118,437.03
DEUTSCHE BOERSE AG DE DB1 GR 1,859 $321,539.67
DEUTSCHE BOERSE AG ADR DE DBOEY 79,213 $1,366,424.25
DEVON ENERGY CORPORATION US DVN 781 $36,004.10
DIAGEO PLC GB DGE LN 5,823 $242,076.96
DIAMONDBACK ENERGY INC US FANG 241 $30,643.15
DIGITAL REALTY TRUST INC US DLR 791 $81,045.86
DOW INC US DOW 812 $39,609.36
DREYFUS GVT CSH MANAGEMENT US 10,558,022.06 $10,558,022.06
EBAY INC US EBAY 750 $31,905.00
ELECTRONIC ARTS US EA 29,879 $3,824,512.00
EMERSON ELEC CO US EMR 755 $58,648.40
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,410,000 $2,403,850.40
EOG RESOURCES INC US EOG 558 $59,867.82
EQUINIX INC US EQIX 1,252 $933,428.60
EQUITY COMMONWEALTH US EQC 6,452 $131,943.40
EQUITY LIFESTYLE PROPERTIES US ELS 4,055 $256,154.35
ESSEX PROPERTY TRUST INC US ESS 360 $77,781.60
EVERGY INC US EVRG 27,368 $1,583,238.80
EXTRA SPACE STORAGE INC US EXR 392 $56,553.84
EXXON MOBIL CORP US XOM 1,769 $180,756.42
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 124,980.32 $132,116.69
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 62,368.02 $65,929.23
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 27,966.84 $29,559.17
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 811.24 $805.41
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 174,643.11 $173,177.37
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 71,288.54 $70,662.66
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 539,697.49 $534,959.22
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 898,928.71 $938,127.84
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 139,928.5 $130,123.40
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 384,243.3 $368,404.31
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 3,180,376.52 $3,002,415.24
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,934,532.03 $1,798,474.54
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 109,404.23 $103,579.48
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 2,082,637.38 $1,991,677.28
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 190,351.27 $189,170.93
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 155,202.64 $154,240.25
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 2,163,524.71 $1,984,695.74
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 2,114,092.2 $1,995,795.97
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 2,400,000 $2,393,951.04
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 2,040,357.08 $1,822,480.73
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 3,397,041.46 $3,343,370.38
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,183,634.13 $1,927,037.05
FEDEX CORPORATION US FDX 215 $46,865.70
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 393,243.61 $387,536.08
FHLM POOL G03332 6.00000 10/01/2037 US 19,539.55 $20,680.05
FHLM POOL G05900 6.00000 03/01/2040 US 41,744.49 $44,176.06
FHLM POOL G05906 6.00000 04/01/2040 US 37,773.71 $39,973.99
FHLM POOL G06995 6.00000 05/01/2040 US 122,822.32 $129,976.58
FHLM POOL G13331 5.50000 10/01/2023 US 37.87 $37.72
FHLM POOL G60034 4.50000 02/01/2045 US 961,882.35 $954,242.16
FHLM POOL SD8230 4.50000 06/01/2052 US 1,780,200.46 $1,721,002.49
FHR 5189 CP 2.50000 06/25/2049 US 1,555,292.4 $1,347,245.03
FIFTH THIRD BANCORP US FITB 1,111 $26,963.97
FINECOBANK SPA IT FBK IM 16,208 $216,509.19
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,162 $107,859.72
FLX 2021-1A A2 3.25000 11/27/2051 US 1,720,000 $1,523,920.00
FMC CORP US FMC 27,298 $2,841,175.84
FN DS2696 3.00000 12/01/2051 US 2,394,959.74 $2,139,027.01
FN MA4733 4.50000 09/01/2052 US 2,310,764.76 $2,233,929.75
FN MA4807 MTGE 5.50000 11/01/2052 US 1,683,046.47 $1,681,188.72
FN MA4868 MTGE 5.00000 01/01/2053 US 3,032,491.95 $2,984,585.73
FN MA4934 MTGE 5.00000 02/01/2043 US 3,317,168.79 $3,286,180.53
FNR 2018-31 KP 3.50000 07/25/2047 US 23,060.76 $22,292.82
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,240,000 $1,177,024.41
GENERAL DYNAMICS CORP US GD 330 $67,379.40
GENERAL MLS INC US GIS 802 $67,496.32
GENUINE PARTS CO US GPC 255 $37,977.15
GETTY REALTY CORP US GTY 5,449 $186,737.23
GILEAD SCIENCES INC US GILD 1,331 $102,407.14
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 192,637.54 $176,516.67
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 235,000 $219,756.92
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,010,672.42 $851,226.52
GREENIDGE GEN HLD INC US 8,400 $39,900.00
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 978,416.71 $842,329.87
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 767,508.86 $661,876.50
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 794,114.31 $684,494.20
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,208,254.74 $1,038,949.25
HALLIBURTON CO US HAL 999 $28,621.35
HARTFORD FINL SVCS US HIG 371 $25,420.92
HAWAII ST 2.68200 10/01/2038 US 1,170,000 $888,218.55
HDFC BANK LTD-ADR IN HDB 4,095 $263,718.00
HEALTHCARE REALTY TRUST INC US HR 12,398 $230,726.78
HEINEKEN NV NL HEIA NA 3,097 $313,349.70
HEINEKEN NV-SPN ADR NL HEINY 44,267 $2,237,254.18
HELIOS TOWERS PLC GB HTWS LN 69,021 $77,744.86
HOME DEPOT INC US HD 726 $205,784.70
HONEYWELL INTERNATIONAL INC US HON 651 $124,731.60
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 2,800,000 $2,784,604.48
HUNTINGTON BANCSHARES US HBAN 1,873 $19,310.63
IDEXX LABORATORIES INC US IDXX 4,630 $2,151,885.10
IMCD NV NL IMCD NA 701 $105,667.12
IMPRL 2021-NQM3 1.59500 11/25/2056 US 905,521.32 $759,889.19
INTERCONTINENTALEXCHANGE INC US ICE 13,868 $1,469,314.60
INTERMEDIATE CAPITAL GROUP GB ICP LN 7,160 $124,275.28
INTERNATIONAL BUSINESS MACH CORP US IBM 624 $80,240.16
INTERNATIONAL FLVRS & FRAGRANCES US IFF 357 $27,592.53
INTUIT INC US INTU 3,406 $1,427,522.72
INTUITIVE SURGICAL INC US ISRG 5,066 $1,559,517.44
INVITATION HOMES INC US INVH 7,102 $240,615.76
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $229,545.18
JM SMUCKER CO/THE-NEW COM WI US SJM 209 $30,637.31
JOHNSON & JOHNSON US JNJ 29,997 $4,651,334.82
JP MORGAN CHASE & CO US JPM 1,693 $229,757.03
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 167,093.06 $157,933.78
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 2,780,000 $2,683,525.24
KELLOGG CO US K 399 $26,641.23
KEYENCE CORP JP 6861 JP 400 $193,911.16
KEYWORDS STUDIOS PLC IE KWS LN 3,046 $73,697.44
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 153,500 $313,699.19
KRAFT HEINZ CO/THE US KHC 1,119 $42,768.18
L'OREAL FR OR FP 143 $61,224.92
L3HARRIS TECHNOLOGIES INC US LHX 10,710 $1,884,103.20
LEXINGTON REALTY TRUST US LXP 16,153 $167,022.02
LIFE STORAGE INC US LSI 1,643 $209,301.77
LINDE PLC IE LIN 488 $172,586.08
LOCKHEED MARTIN CORP US LMT 252 $111,890.52
LULULEMON - ADR CA LULU 637 $211,439.41
MARATHON OIL CORP US MRO 846 $18,747.36
MARATHON PETROLEUM CORP US MPC 522 $54,763.02
MASCO CORP US MAS 60,962 $2,945,683.84
MASTERCARD INC-CLASS A US MA 14,244 $5,199,344.88
MEDTRONIC INC IE MDT 41,405 $3,426,677.80
MERCADOLIBRE INC BR MELI 161 $199,479.00
MERCK & CO INC US MRK 1,894 $209,116.54
META PLATFORMS INC US META 21,153 $5,599,622.16
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $53,119.77
MICROCHIP TECHNOLOGY INC US MCHP 642 $48,316.92
MICRON TECHNOLOGY INC US MU 72,717 $4,959,299.40
MICROSOFT CORP US MSFT 10,095 $3,315,097.05
MID-AMERICA APARTMENT COMM US MAA 1,380 $202,942.80
MONARCH CASINO & RESORT INC US MCRI 1,245 $80,788.05
MONDELEZ INTERNATIONAL INC US MDLZ 41,657 $3,058,040.37
MOODY'S CORPORATION US MCO 8,320 $2,636,441.60
NAVIENT CORP 6.75000 06/25/2025 US 395,000 $384,350.93
NESTLE S.A. - ADR CH NSRGY 17,949 $2,131,084.77
NESTLE SA-REGISTERED CH NESN SW 3,013 $357,149.88
NETAPP INC US NTAP 421 $27,933.35
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,240,000 $1,115,532.10
NEWMONT GOLDCORP CORP US NEM 13,898 $563,563.90
NIKE INC CLASS B US NKE 12,230 $1,287,329.80
NORFOLK SOUTHN CORP US NSC 249 $51,836.82
NORTHROP GRUMMAN CORP US NOC 4,854 $2,113,868.46
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
NOVARTIS AG- REG CH NVS 18,554 $1,785,822.50
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 226,610.96 $207,230.15
NRZT 2015-2A A1 3.75000 08/25/2055 US 266,194.07 $248,611.47
NRZT 2016-4A A1 3.75000 11/25/2056 US 529,298.83 $486,942.11
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,019,712.41 $919,609.89
OASIS 2023-1A 7.00000 02/15/2035 US 1,033,254.52 $1,025,172.82
OBX 2022-INV1 A1 3.00000 12/25/2051 US 1,247,679.93 $1,048,412.47
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 400,000 $402,000.00
OMNICOM GROUP US OMC 384 $33,864.96
OXFIN 2020-1A A2 3.10100 02/15/2028 US 728,984.96 $722,074.18
OXFIN 2022-1A 3.60200 02/15/2030 US 1,650,000 $1,515,797.91
OXFIN 2023-1A A2 6.71600 02/15/2031 US 2,100,000 $2,083,630.29
PACKAGING CORP OF AMERICA US PKG 179 $22,201.37
PARAMOUNT GLOBAL CLASS B US PARA 1,053 $16,016.13
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,380,226.47 $1,303,042.00
PEAR 2022-1 A1 6.50000 10/15/2034 US 385,344.85 $384,732.38
PELORUS FUND REIT 7.00000 09/30/2026 US 55,000 $51,526.62
PEPSICO INC 3.90000 07/18/2032 US 2,120,000 $2,047,493.67
PFIZER INC US PFE 3,566 $135,579.32
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 1,528,832.26 $1,233,555.43
PFMT 2021-2 A2A 2.00000 04/25/2051 US 933,371.22 $793,748.87
PHILLIPS 66 US PSX 414 $37,926.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 217,568.61 $196,805.51
POPULAR INC 6.12500 09/14/2023 PR 395,000 $393,025.00
PPG INDUSTRIES INC US PPG 290 $38,074.10
PROLOGIS US PLD 8,649 $1,077,232.95
PUBLIC STORAGE INC US PSA 1,301 $368,573.30
QUALCOMM INC US QCOM 1,058 $119,987.78
QUALCOMM INC 4.25000 05/20/2032 US 2,200,000 $2,140,080.91
QUEST DIAGNOSTICS INC US DGX 224 $29,713.60
RAYTHEON TECHNOLOGIES CORP US RTX 954 $87,901.56
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,997,954.11 $1,612,154.17
REALTY INCOME CORP US O 3,491 $207,505.04
REGIONS FINANCIAL CORP. US RF 1,679 $28,996.33
RENAISSANCERE HOLDINGS LTD BM RNR 1,065 $200,614.05
RENTOKIL INITIAL PLC GB RTO LN 32,281 $256,781.76
RENTOKIL INITIAL PLC-SP ADR GB RTO 38,041 $1,511,368.93
RESTAURANT BRANDS INTERN CA QSR 2,466 $179,796.06
REXFORD INDUSTRIAL REALITY IN US REXR 4,404 $239,753.76
S&P GLOBAL INC US SPGI 2,817 $1,035,050.31
SALESFORCE INC US CRM 8,789 $1,963,286.82
SBA COMMUNICATIONS CORP US SBAC 1,369 $303,616.82
SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,562,410.23
SBA TOWER TRUST 6.59900 01/15/2028 US 1,785,000 $1,847,166.55
SCHLUMBERGER LTD NL SLB 1,181 $50,582.23
SCML 2019-SBC8 2.86000 04/25/2041 US 1,030,776.34 $950,216.53
SEMT 2013-2 1.87400 02/25/2043 US 109,424.72 $95,327.63
SEMT 2013-6 A2 3.00000 05/25/2043 US 303,834.6 $261,656.32
SEMT 2013-7 A2 3.00000 06/25/2043 US 122,114.39 $107,962.51
SEMT 2013-8 A1 3.00000 06/25/2043 US 145,177.97 $128,922.18
SERVICENOW INC US NOW 5,667 $3,087,268.26
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 3,720,000 $3,022,631.80
SKYWORKS SOLUTIONS INC US SWKS 249 $25,773.99
SMB 2020-BA A1A 1.29000 07/15/2053 US 904,212.29 $790,069.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 185,236.88 $179,117.47
SONY CORP FIRST SECTION JP 6758 JP 3,400 $318,853.31
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 921,938.3 $832,634.29
SORT 2020-1 A2 1.99000 07/15/2060 US 772,550.34 $649,450.70
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $667,470.43
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 1,506,780.74 $1,099,928.89
STAG INDUSTRIAL INC US STAG 3,209 $111,673.20
SUN COMMUNITIES US SUI 2,632 $333,290.16
SYNCHRONOSS TECH US 10,016 $185,296.00
SYSCO CORP US SYY 503 $35,184.85
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 30,822 $3,038,740.98
TE CONNECTIVITY LIMITED CH TEL 378 $46,297.44
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 17,000 $157,433.99
TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,540,000 $4,278,201.22
TENCENT HOLDINGS LTD CN 700 HK 6,900 $273,062.96
TERRENO REALTY CORP US TRNO 3,671 $225,142.43
TEXAS INSTRUMENTS INC US TXN 672 $116,847.36
THERMO FISHER SCIENTIFIC INC US TMO 2,708 $1,376,909.68
TOKYO ELECTRON LTD JP 8035 JP 1,200 $163,206.69
TPMT 2016-5 A1 2.50000 10/25/2056 US 144,640.13 $142,081.72
TPMT 2017-1 A1 2.75000 10/25/2056 US 74,276.95 $73,036.99
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 243,593.55 $241,423.96
TRAVELLERS COS INC US TRV 324 $54,833.76
TREASURY BILL 0.00000 05/16/2024 US 20,820,000 $19,822,653.50
TREASURY BOND 2.37500 02/15/2042 US 14,885,000 $11,626,580.47
TREASURY NOTE 2.25000 11/15/2027 US 16,370,000 $15,312,344.61
TRUIST FINANCIAL CORP US TFC 1,243 $37,874.21
TYSON FOODS INC -CL A US TSN 517 $26,180.88
U.S. BANCORP US USB 1,673 $50,022.70
UDR INC US UDR 6,116 $242,621.72
UNILEVER PLC - ADR GB UL 75,676 $3,779,259.44
UNION PAC CORP US UNP 8,154 $1,569,808.08
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 55,583.2 $52,314.83
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 340,592.94 $307,198.85
UNITED PARCEL SERVICE US UPS 631 $105,377.00
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $239,293.27
US TEASURY NOTE 1.75000 11/15/2029 US 17,185,000 $15,317,473.91
US TREASURY N/B 0.87500 11/15/2030 US 19,270,000 $15,849,575.00
US TREASURY N/B 2.00000 11/15/2026 US 16,435,000 $15,396,256.72
US TREASURY N/B 3.12500 11/15/2028 US 31,525,000 $30,502,900.55
US TREASURY N/B 3.62500 02/15/2053 US 3,975,000 $3,806,683.59
VALERO ENERGY US VLO 330 $35,323.20
VENTAS INC US VTR 2,724 $117,513.36
VERTEX PHARMACEUTICALS INC US VRTX 6,289 $2,034,931.73
VISA INC - CLASS A SHARES US V 17,002 $3,757,952.06
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,825,000 $1,798,856.89
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 520,000 $502,989.32
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 2,870,000 $2,622,419.48
WELLS FARGO COMPANY US WFC 2,375 $94,548.75
WELLTOWER INC. US WELL 2,672 $199,357.92
WIN 2015-1 A1 3.50000 01/20/2045 US 77,961.56 $71,086.41

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

$15.55

Daily $ Change

-$0.09

Daily % Change

-$0.58

as of 06/07/2023

CUSIP

302027131

Inception Date

10/15/2013

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Investment Objective

To provide 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.

Learn more about our Pro-Mix® Series

Performance

As of 05/31/2023

YTD

5.35%

1 Year

0.13%

3 Year

3.10%

5 Year

5.14%

10 Year

4.86%

Inception
(10/15/2013)

6.09%

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.

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.

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 05/31/2023

TREASURY NOTES 23.80%
GOVERNMENT AGENCY 9.99%
TREASURY BILLS 5.11%
TREASURY BONDS 3.98%
AMAZON.COM INC 1.63%
META PLATFORMS INC 1.44%
MASTERCARD INC-CLASS A 1.34%
ALPHABET INC-CL A 1.28%
MICRON TECHNOLOGY INC 1.28%
JOHNSON & JOHNSON 1.20%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Bonds
61.87%
Stocks
35.48%
Cash
2.65%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
9.49%
Small Capitalization
0.34%
Mid Capitalization
3.61%
Large Capitalization
22.04%
Long Term Fixed Income
12.70%
Intermediate Term Fixed Income
42.80%
Short Term Fixed Income
6.37%
Cash
2.65%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 631 $58,878.61
ABBOTT LABORATORIES US ABT 1,187 $121,074.00
ADMIRAL GROUP PLC GB AMIGY 52,697 $1,523,470.27
ADMIRAL GROUP PLC GB ADM LN 14,626 $423,668.87
ADYEN NV NL ADYEN NA 79 $129,389.53
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 240,000 $208,069.68
AGREE REALTY CORP US ADC 3,929 $253,381.21
AIR LIQUIDE FR AI FP 2,074 $347,504.40
AIR LIQUIDE-ADR FR AIQUY 75,383 $2,526,838.16
AIRBUS SE FR AIR FP 1,651 $216,818.06
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 96,113.19 $97,426.77
ALCON INC CH ALC 24,139 $1,868,117.21
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 700,000 $574,982.44
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 2,570,000 $2,176,821.74
ALPHABET INC-CL A US GOOGL 40,571 $4,984,958.77
AMAZON.COM INC US AMZN 52,409 $6,319,477.22
AMAZON.COM INC 3.30000 04/13/2027 US 2,330,000 $2,247,013.56
AMERICAN HOMES 4 RENT- A US AMH 2,935 $100,611.80
AMERICAN TANKER INC 7.75000 07/02/2025 US 420,000 $403,624.47
AMERICAN TOWER REIT INC US AMT 984 $181,488.96
AMERICOLD REALTY TRUST US COLD 8,522 $249,694.60
ANALOG DEVICES INC US ADI 577 $102,527.13
APARTMENT INCOME REIT CO US AIRC 2,830 $98,172.70
APPLIED MATERIALS INC US AMAT 12,908 $1,720,636.40
ARCHER-DANIELS-MIDLAND CO US ADM 705 $49,808.25
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 1,170,000 $1,084,099.31
ASTRAZENECA GB AZN 3,818 $279,019.44
ATLASSIAN CORP PLC-CLASS A AU TEAM 726 $131,253.54
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 20,134 $107,612.58
AUTO TRADER GROUP PLC GB AUTO LN 49,624 $389,450.31
AVALONBAY COMMUNITIES INC US AVB 907 $157,799.86
AVANZA BANK HOLDING AB SE AZA SS 7,289 $151,355.13
BAE SYSTEMS PLC GB BA/ LN 31,962 $369,402.31
BAE SYSTEMS PLC -SPON ADR GB BAESY 29,376 $1,380,378.24
BANK OF AMERICA CORP US BAC 4,452 $123,721.08
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,940,000 $1,602,480.66
BARRICK GOLD CORP CA GOLD 65,551 $1,106,500.88
BAXTER INTERNATIONAL INC US BAX 685 $27,893.20
BEIERSDORF AG DE BEI GR 2,177 $277,806.17
BIOMARIN PHARMACEUTICAL INC US BMRN 23,737 $2,063,694.78
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 1,070,000 $1,028,266.54
BRANDYWINE REALTY TRUST US BDN 9,226 $35,981.40
BRISTOL MYERS SQUIBB CO US BMY 1,804 $116,249.76
BROADCOM INC US AVGO 223 $180,175.08
BROADRIDGE FINANCIAL SOLUTIONS US BR 210 $30,811.20
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 185,368 $159,260.44
BUNGE LIMITED US BG 273 $25,290.72
C.H. ROBINSON WORLDWIDE INC US CHRW 273 $25,809.42
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 1,950,000 $1,823,697.82
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 375,000 $379,893.75
CAMPBELL SOUP CO US CPB 589 $29,773.95
CANADIAN NATIONAL RAILWAY CO CA CNI 14,239 $1,605,162.47
CARETRUST REIT INC US CTRE 7,771 $150,757.40
CATERPILLAR INC US CAT 560 $115,220.00
CBOE GLOBAL MARKETS INC US CBOE 10,858 $1,437,816.36
CELLNEX TELECOM SA ES CLNX SM 7,498 $303,860.02
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 9,649 $195,102.78
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,195,000 $1,250,984.52
CHEVRON CORP US CVX 1,103 $166,133.86
CIM 2019-INV1 A1 4.00000 02/25/2049 US 27,855.14 $27,006.51
CISCO SYSTEMS INC US CSCO 3,283 $163,066.61
CITIGROUP INC US C 2,003 $88,772.96
CITIGROUP INC 1.46200 06/09/2027 US 1,860,000 $1,658,081.97
CLARK CNTY NV 1.51000 11/01/2028 US 2,040,000 $1,748,093.48
CLEANAWAY WASTE MANAGEMENT AU CWY AU 120,995 $204,446.51
COCA COLA CO/THE US KO 40,532 $2,418,139.12
COGNIZANT TECH SOLUTIONS - A US CTSH 551 $34,431.99
COLGATE-PALMOLIVE CO US CL 970 $72,148.60
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 1,060,000 $925,018.37
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 1,350,000 $1,267,709.37
COMCAST CORP-CL A US CMCSA 3,468 $136,465.80
COMMUNITY HEALTHCARE TRUST I US CHCT 3,727 $122,245.60
CONAGRA BRAND INC. US CAG 868 $30,267.16
CONOCOPHILLIPS US COP 952 $94,533.60
COPART INC US CPRT 21,814 $1,910,688.26
CORNING INC US GLW 940 $28,961.40
COTERRA ENERGY INC US CTRA 1,137 $26,435.25
COUSINS PROPERTIES INC US CUZ 6,492 $129,320.64
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 204,158.03 $175,339.73
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 115,793.51 $98,112.33
CSX CORP US CSX 51,005 $1,564,323.35
CUMMINS INC US CMI 235 $48,036.35
CVS HEALTH CORP US CVS 922 $62,723.66
DANONE FR BN FP 2,001 $118,437.03
DEUTSCHE BOERSE AG DE DB1 GR 1,859 $321,539.67
DEUTSCHE BOERSE AG ADR DE DBOEY 79,213 $1,366,424.25
DEVON ENERGY CORPORATION US DVN 781 $36,004.10
DIAGEO PLC GB DGE LN 5,823 $242,076.96
DIAMONDBACK ENERGY INC US FANG 241 $30,643.15
DIGITAL REALTY TRUST INC US DLR 791 $81,045.86
DOW INC US DOW 812 $39,609.36
DREYFUS GVT CSH MANAGEMENT US 10,558,022.06 $10,558,022.06
EBAY INC US EBAY 750 $31,905.00
ELECTRONIC ARTS US EA 29,879 $3,824,512.00
EMERSON ELEC CO US EMR 755 $58,648.40
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 2,410,000 $2,403,850.40
EOG RESOURCES INC US EOG 558 $59,867.82
EQUINIX INC US EQIX 1,252 $933,428.60
EQUITY COMMONWEALTH US EQC 6,452 $131,943.40
EQUITY LIFESTYLE PROPERTIES US ELS 4,055 $256,154.35
ESSEX PROPERTY TRUST INC US ESS 360 $77,781.60
EVERGY INC US EVRG 27,368 $1,583,238.80
EXTRA SPACE STORAGE INC US EXR 392 $56,553.84
EXXON MOBIL CORP US XOM 1,769 $180,756.42
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 124,980.32 $132,116.69
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 62,368.02 $65,929.23
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 27,966.84 $29,559.17
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 811.24 $805.41
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 174,643.11 $173,177.37
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 71,288.54 $70,662.66
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 539,697.49 $534,959.22
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 898,928.71 $938,127.84
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 139,928.5 $130,123.40
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 384,243.3 $368,404.31
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 3,180,376.52 $3,002,415.24
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,934,532.03 $1,798,474.54
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 109,404.23 $103,579.48
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 2,082,637.38 $1,991,677.28
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 190,351.27 $189,170.93
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 155,202.64 $154,240.25
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 2,163,524.71 $1,984,695.74
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 2,114,092.2 $1,995,795.97
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 2,400,000 $2,393,951.04
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 2,040,357.08 $1,822,480.73
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 3,397,041.46 $3,343,370.38
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 2,183,634.13 $1,927,037.05
FEDEX CORPORATION US FDX 215 $46,865.70
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 393,243.61 $387,536.08
FHLM POOL G03332 6.00000 10/01/2037 US 19,539.55 $20,680.05
FHLM POOL G05900 6.00000 03/01/2040 US 41,744.49 $44,176.06
FHLM POOL G05906 6.00000 04/01/2040 US 37,773.71 $39,973.99
FHLM POOL G06995 6.00000 05/01/2040 US 122,822.32 $129,976.58
FHLM POOL G13331 5.50000 10/01/2023 US 37.87 $37.72
FHLM POOL G60034 4.50000 02/01/2045 US 961,882.35 $954,242.16
FHLM POOL SD8230 4.50000 06/01/2052 US 1,780,200.46 $1,721,002.49
FHR 5189 CP 2.50000 06/25/2049 US 1,555,292.4 $1,347,245.03
FIFTH THIRD BANCORP US FITB 1,111 $26,963.97
FINECOBANK SPA IT FBK IM 16,208 $216,509.19
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 7,162 $107,859.72
FLX 2021-1A A2 3.25000 11/27/2051 US 1,720,000 $1,523,920.00
FMC CORP US FMC 27,298 $2,841,175.84
FN DS2696 3.00000 12/01/2051 US 2,394,959.74 $2,139,027.01
FN MA4733 4.50000 09/01/2052 US 2,310,764.76 $2,233,929.75
FN MA4807 MTGE 5.50000 11/01/2052 US 1,683,046.47 $1,681,188.72
FN MA4868 MTGE 5.00000 01/01/2053 US 3,032,491.95 $2,984,585.73
FN MA4934 MTGE 5.00000 02/01/2043 US 3,317,168.79 $3,286,180.53
FNR 2018-31 KP 3.50000 07/25/2047 US 23,060.76 $22,292.82
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 1,240,000 $1,177,024.41
GENERAL DYNAMICS CORP US GD 330 $67,379.40
GENERAL MLS INC US GIS 802 $67,496.32
GENUINE PARTS CO US GPC 255 $37,977.15
GETTY REALTY CORP US GTY 5,449 $186,737.23
GILEAD SCIENCES INC US GILD 1,331 $102,407.14
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 192,637.54 $176,516.67
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 235,000 $219,756.92
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 1,010,672.42 $851,226.52
GREENIDGE GEN HLD INC US 8,400 $39,900.00
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 978,416.71 $842,329.87
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 767,508.86 $661,876.50
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 794,114.31 $684,494.20
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 1,208,254.74 $1,038,949.25
HALLIBURTON CO US HAL 999 $28,621.35
HARTFORD FINL SVCS US HIG 371 $25,420.92
HAWAII ST 2.68200 10/01/2038 US 1,170,000 $888,218.55
HDFC BANK LTD-ADR IN HDB 4,095 $263,718.00
HEALTHCARE REALTY TRUST INC US HR 12,398 $230,726.78
HEINEKEN NV NL HEIA NA 3,097 $313,349.70
HEINEKEN NV-SPN ADR NL HEINY 44,267 $2,237,254.18
HELIOS TOWERS PLC GB HTWS LN 69,021 $77,744.86
HOME DEPOT INC US HD 726 $205,784.70
HONEYWELL INTERNATIONAL INC US HON 651 $124,731.60
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 2,800,000 $2,784,604.48
HUNTINGTON BANCSHARES US HBAN 1,873 $19,310.63
IDEXX LABORATORIES INC US IDXX 4,630 $2,151,885.10
IMCD NV NL IMCD NA 701 $105,667.12
IMPRL 2021-NQM3 1.59500 11/25/2056 US 905,521.32 $759,889.19
INTERCONTINENTALEXCHANGE INC US ICE 13,868 $1,469,314.60
INTERMEDIATE CAPITAL GROUP GB ICP LN 7,160 $124,275.28
INTERNATIONAL BUSINESS MACH CORP US IBM 624 $80,240.16
INTERNATIONAL FLVRS & FRAGRANCES US IFF 357 $27,592.53
INTUIT INC US INTU 3,406 $1,427,522.72
INTUITIVE SURGICAL INC US ISRG 5,066 $1,559,517.44
INVITATION HOMES INC US INVH 7,102 $240,615.76
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $229,545.18
JM SMUCKER CO/THE-NEW COM WI US SJM 209 $30,637.31
JOHNSON & JOHNSON US JNJ 29,997 $4,651,334.82
JP MORGAN CHASE & CO US JPM 1,693 $229,757.03
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 167,093.06 $157,933.78
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 2,780,000 $2,683,525.24
KELLOGG CO US K 399 $26,641.23
KEYENCE CORP JP 6861 JP 400 $193,911.16
KEYWORDS STUDIOS PLC IE KWS LN 3,046 $73,697.44
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 153,500 $313,699.19
KRAFT HEINZ CO/THE US KHC 1,119 $42,768.18
L'OREAL FR OR FP 143 $61,224.92
L3HARRIS TECHNOLOGIES INC US LHX 10,710 $1,884,103.20
LEXINGTON REALTY TRUST US LXP 16,153 $167,022.02
LIFE STORAGE INC US LSI 1,643 $209,301.77
LINDE PLC IE LIN 488 $172,586.08
LOCKHEED MARTIN CORP US LMT 252 $111,890.52
LULULEMON - ADR CA LULU 637 $211,439.41
MARATHON OIL CORP US MRO 846 $18,747.36
MARATHON PETROLEUM CORP US MPC 522 $54,763.02
MASCO CORP US MAS 60,962 $2,945,683.84
MASTERCARD INC-CLASS A US MA 14,244 $5,199,344.88
MEDTRONIC INC IE MDT 41,405 $3,426,677.80
MERCADOLIBRE INC BR MELI 161 $199,479.00
MERCK & CO INC US MRK 1,894 $209,116.54
META PLATFORMS INC US META 21,153 $5,599,622.16
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,000,000 $53,119.77
MICROCHIP TECHNOLOGY INC US MCHP 642 $48,316.92
MICRON TECHNOLOGY INC US MU 72,717 $4,959,299.40
MICROSOFT CORP US MSFT 10,095 $3,315,097.05
MID-AMERICA APARTMENT COMM US MAA 1,380 $202,942.80
MONARCH CASINO & RESORT INC US MCRI 1,245 $80,788.05
MONDELEZ INTERNATIONAL INC US MDLZ 41,657 $3,058,040.37
MOODY'S CORPORATION US MCO 8,320 $2,636,441.60
NAVIENT CORP 6.75000 06/25/2025 US 395,000 $384,350.93
NESTLE S.A. - ADR CH NSRGY 17,949 $2,131,084.77
NESTLE SA-REGISTERED CH NESN SW 3,013 $357,149.88
NETAPP INC US NTAP 421 $27,933.35
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 1,240,000 $1,115,532.10
NEWMONT GOLDCORP CORP US NEM 13,898 $563,563.90
NIKE INC CLASS B US NKE 12,230 $1,287,329.80
NORFOLK SOUTHN CORP US NSC 249 $51,836.82
NORTHROP GRUMMAN CORP US NOC 4,854 $2,113,868.46
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 380,000 $38.00
NOVARTIS AG- REG CH NVS 18,554 $1,785,822.50
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 226,610.96 $207,230.15
NRZT 2015-2A A1 3.75000 08/25/2055 US 266,194.07 $248,611.47
NRZT 2016-4A A1 3.75000 11/25/2056 US 529,298.83 $486,942.11
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 1,019,712.41 $919,609.89
OASIS 2023-1A 7.00000 02/15/2035 US 1,033,254.52 $1,025,172.82
OBX 2022-INV1 A1 3.00000 12/25/2051 US 1,247,679.93 $1,048,412.47
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 400,000 $402,000.00
OMNICOM GROUP US OMC 384 $33,864.96
OXFIN 2020-1A A2 3.10100 02/15/2028 US 728,984.96 $722,074.18
OXFIN 2022-1A 3.60200 02/15/2030 US 1,650,000 $1,515,797.91
OXFIN 2023-1A A2 6.71600 02/15/2031 US 2,100,000 $2,083,630.29
PACKAGING CORP OF AMERICA US PKG 179 $22,201.37
PARAMOUNT GLOBAL CLASS B US PARA 1,053 $16,016.13
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 1,380,226.47 $1,303,042.00
PEAR 2022-1 A1 6.50000 10/15/2034 US 385,344.85 $384,732.38
PELORUS FUND REIT 7.00000 09/30/2026 US 55,000 $51,526.62
PEPSICO INC 3.90000 07/18/2032 US 2,120,000 $2,047,493.67
PFIZER INC US PFE 3,566 $135,579.32
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 1,528,832.26 $1,233,555.43
PFMT 2021-2 A2A 2.00000 04/25/2051 US 933,371.22 $793,748.87
PHILLIPS 66 US PSX 414 $37,926.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 217,568.61 $196,805.51
POPULAR INC 6.12500 09/14/2023 PR 395,000 $393,025.00
PPG INDUSTRIES INC US PPG 290 $38,074.10
PROLOGIS US PLD 8,649 $1,077,232.95
PUBLIC STORAGE INC US PSA 1,301 $368,573.30
QUALCOMM INC US QCOM 1,058 $119,987.78
QUALCOMM INC 4.25000 05/20/2032 US 2,200,000 $2,140,080.91
QUEST DIAGNOSTICS INC US DGX 224 $29,713.60
RAYTHEON TECHNOLOGIES CORP US RTX 954 $87,901.56
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,997,954.11 $1,612,154.17
REALTY INCOME CORP US O 3,491 $207,505.04
REGIONS FINANCIAL CORP. US RF 1,679 $28,996.33
RENAISSANCERE HOLDINGS LTD BM RNR 1,065 $200,614.05
RENTOKIL INITIAL PLC GB RTO LN 32,281 $256,781.76
RENTOKIL INITIAL PLC-SP ADR GB RTO 38,041 $1,511,368.93
RESTAURANT BRANDS INTERN CA QSR 2,466 $179,796.06
REXFORD INDUSTRIAL REALITY IN US REXR 4,404 $239,753.76
S&P GLOBAL INC US SPGI 2,817 $1,035,050.31
SALESFORCE INC US CRM 8,789 $1,963,286.82
SBA COMMUNICATIONS CORP US SBAC 1,369 $303,616.82
SBA TOWER TRUST 1.88400 01/15/2026 US 1,730,000 $1,562,410.23
SBA TOWER TRUST 6.59900 01/15/2028 US 1,785,000 $1,847,166.55
SCHLUMBERGER LTD NL SLB 1,181 $50,582.23
SCML 2019-SBC8 2.86000 04/25/2041 US 1,030,776.34 $950,216.53
SEMT 2013-2 1.87400 02/25/2043 US 109,424.72 $95,327.63
SEMT 2013-6 A2 3.00000 05/25/2043 US 303,834.6 $261,656.32
SEMT 2013-7 A2 3.00000 06/25/2043 US 122,114.39 $107,962.51
SEMT 2013-8 A1 3.00000 06/25/2043 US 145,177.97 $128,922.18
SERVICENOW INC US NOW 5,667 $3,087,268.26
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 3,720,000 $3,022,631.80
SKYWORKS SOLUTIONS INC US SWKS 249 $25,773.99
SMB 2020-BA A1A 1.29000 07/15/2053 US 904,212.29 $790,069.57
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 185,236.88 $179,117.47
SONY CORP FIRST SECTION JP 6758 JP 3,400 $318,853.31
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 921,938.3 $832,634.29
SORT 2020-1 A2 1.99000 07/15/2060 US 772,550.34 $649,450.70
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 770,000 $667,470.43
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 1,506,780.74 $1,099,928.89
STAG INDUSTRIAL INC US STAG 3,209 $111,673.20
SUN COMMUNITIES US SUI 2,632 $333,290.16
SYNCHRONOSS TECH US 10,016 $185,296.00
SYSCO CORP US SYY 503 $35,184.85
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 30,822 $3,038,740.98
TE CONNECTIVITY LIMITED CH TEL 378 $46,297.44
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 17,000 $157,433.99
TENCENT HOLDINGS 3.97500 04/11/2029 KY 4,540,000 $4,278,201.22
TENCENT HOLDINGS LTD CN 700 HK 6,900 $273,062.96
TERRENO REALTY CORP US TRNO 3,671 $225,142.43
TEXAS INSTRUMENTS INC US TXN 672 $116,847.36
THERMO FISHER SCIENTIFIC INC US TMO 2,708 $1,376,909.68
TOKYO ELECTRON LTD JP 8035 JP 1,200 $163,206.69
TPMT 2016-5 A1 2.50000 10/25/2056 US 144,640.13 $142,081.72
TPMT 2017-1 A1 2.75000 10/25/2056 US 74,276.95 $73,036.99
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 243,593.55 $241,423.96
TRAVELLERS COS INC US TRV 324 $54,833.76
TREASURY BILL 0.00000 05/16/2024 US 20,820,000 $19,822,653.50
TREASURY BOND 2.37500 02/15/2042 US 14,885,000 $11,626,580.47
TREASURY NOTE 2.25000 11/15/2027 US 16,370,000 $15,312,344.61
TRUIST FINANCIAL CORP US TFC 1,243 $37,874.21
TYSON FOODS INC -CL A US TSN 517 $26,180.88
U.S. BANCORP US USB 1,673 $50,022.70
UDR INC US UDR 6,116 $242,621.72
UNILEVER PLC - ADR GB UL 75,676 $3,779,259.44
UNION PAC CORP US UNP 8,154 $1,569,808.08
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 55,583.2 $52,314.83
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 340,592.94 $307,198.85
UNITED PARCEL SERVICE US UPS 631 $105,377.00
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $239,293.27
US TEASURY NOTE 1.75000 11/15/2029 US 17,185,000 $15,317,473.91
US TREASURY N/B 0.87500 11/15/2030 US 19,270,000 $15,849,575.00
US TREASURY N/B 2.00000 11/15/2026 US 16,435,000 $15,396,256.72
US TREASURY N/B 3.12500 11/15/2028 US 31,525,000 $30,502,900.55
US TREASURY N/B 3.62500 02/15/2053 US 3,975,000 $3,806,683.59
VALERO ENERGY US VLO 330 $35,323.20
VENTAS INC US VTR 2,724 $117,513.36
VERTEX PHARMACEUTICALS INC US VRTX 6,289 $2,034,931.73
VISA INC - CLASS A SHARES US V 17,002 $3,757,952.06
VISTRA OPERATIONS 4.87500 05/13/2024 US 1,825,000 $1,798,856.89
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 520,000 $502,989.32
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 2,870,000 $2,622,419.48
WELLS FARGO COMPANY US WFC 2,375 $94,548.75
WELLTOWER INC. US WELL 2,672 $199,357.92
WIN 2015-1 A1 3.50000 01/20/2045 US 77,961.56 $71,086.41

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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