Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a moderately conservative mix of investments that seeks a more stable rate of growth than that of the stock market by placing a greater emphasis on bonds to help maintain stability. The portfolio is diversified primarily among fixed income securities, with a focus on intermediate maturities Stock exposure can range from 17% - 55%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$19.00

Daily $ Change

-$0.06

Daily % Change

-0.32%

as of 09/27/2022

CUSIP

302027669

Inception Date

05/31/2007

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

Important Documents

Annual Report
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Performance

As of 08/31/2022

YTD

-11.83%

1 Year

-11.52%

3 Year

4.17%

5 Year

4.77%

10 Year

5.59%

Inception
(01/01/2000)

6.34%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 18.67%
TREASURY BONDS 10.74%
GOVERNMENT AGENCY 7.21%
AMAZON.COM INC 1.61%
TENCENT HOLDINGS 3.97500 04/11/2029 1.29%
MICROSOFT CORP 1.23%
JOHNSON & JOHNSON 1.18%
SBA COMMUNICATIONS CORP 1.07%
MASTERCARD INC-CLASS A 1.02%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 0.93%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds 63.32%
Stocks 32.92%
Cash 3.76%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 8.66%
Small Capitalization 0.60%
Mid Capitalization 2.25%
Large Capitalization 21.41%
Long Term Fixed Income 17.36%
Intermediate Term Fixed Income 38.36%
Short Term Fixed Income 7.60%
Cash 3.76%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 130.57 $13,403.52
ACTIVISION INC US ATVI 3,484.36 $273,487.13
ADIDAS AG-SPONSORED ADR DE ADDYY 2,347.21 $174,116.27
ADMIRAL GROUP PLC GB AMIGY 9,573.15 $241,051.79
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 113,593.19 $97,357.54
ADYEN NV UNSPON ADR NL ADYEY 17,296.94 $268,275.50
AGREE REALTY CORP US ADC 239.13 $18,010.94
AIR LIQUIDE-ADR FR AIQUY 13,706.03 $343,610.17
AIR LEASE CORP 3.62500 04/01/2027 US 263,551.69 $244,509.90
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 24,166.44 $24,330.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 558,840.31 $469,971.01
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 150,319.1 $125,265.44
ALLSTATE CORPORATION US ALL 54.44 $6,559.61
ALPHABET INC-CL A US GOOGL 4,193 $453,766.18
AMAZON.COM INC US AMZN 9,356.62 $1,186,139.23
AMAZON.COM INC 3.30000 04/13/2027 US 514,791.75 $503,686.49
DIAGEO PLC GB DGE LN 1,173.27 $50,974.43
BAE SYSTEMS PLC GB BA/ LN 4,591.52 $41,351.70
AMERICAN HOMES 4 RENT- A US AMH 1,185.79 $42,166.70
AMERICAN TOWER REIT INC US AMT 131.54 $33,418.35
ANALOG DEVICES INC US ADI 75.48 $11,436.92
APPLE HOSPITALITY REIT INC US APLE 2,638.72 $41,982.05
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 29,071.69 $29,360.10
ARCHER-DANIELS-MIDLAND CO US ADM 85.59 $7,522.77
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 252,852.52 $231,706.85
AUTOMATIC DATA PROCESSING US ADP 52 $12,709.52
AVALONBAY COMMUNITIES INC US AVB 202.29 $40,642.36
BAE SYSTEMS PLC -SPON ADR GB BAESY 6,880.81 $248,397.35
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 240,294.34 $236,552.63
BANK OF AMERICA CORP 2.68700 04/22/2032 US 428,724.38 $357,819.12
BARRICK GOLD CORP CA GOLD 8,294.39 $123,171.72
BAXTER INTERNATIONAL INC US BAX 65.86 $3,784.34
BEST BUY INC US BBY 52.65 $3,721.53
BIOMARIN PHARMACEUTICAL INC US BMRN 3,836.66 $342,230.35
BLACKROCK INC US BLK 368.69 $245,692.22
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 227,859.43 $201,610.08
DECHRA PHARMACEUTICALS PLC GB DPH LN 936.88 $37,889.99
BRANDYWINE REALTY TRUST US BDN 1,475.8 $11,850.64
BRISTOL MYERS SQUIBB CO US BMY 245.27 $16,533.65
BROADRIDGE FINANCIAL SOLUTIONS US BR 25.59 $4,380.03
JONAH ENERGY PARENT LLC US 1,124.56 $63,998.47
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 213,691.84 $194,190.36
SORT 2020-1 A2 1.99000 07/15/2060 US 177,014.53 $151,752.75
C.H. ROBINSON WORLDWIDE INC US CHRW 34.38 $3,924.64
CIM 2019-INV1 A1 4.00000 02/25/2049 US 7,785.77 $7,726.40
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 580,484.52 $571,320.40
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 322,491.4 $313,302.00
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 54,873.09 $50,971.66
COTERRA ENERGY INC US CTRA 127.88 $3,952.63
CAMDEN PROPERTY TRUST US CPT 226.7 $29,133.24
CAMECO CORP CA CCJ 631.51 $18,408.64
CAMPBELL SOUP CO US CPB 74.01 $3,728.52
CANADIAN NATIONAL RAILWAY CO CA CNI 3,476.95 $413,444.62
CARETRUST REIT INC US CTRE 1,597.15 $34,402.71
CATERPILLAR INC US CAT 67.78 $12,519.32
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,416.9 $27,530.31
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 592,132.87 $646,732.17
CHARTER COMMUNICATIONS INC-A US CHTR 832.29 $343,428.61
CHEVRON CORP US CVX 124.33 $19,651.30
CINCINNATI FINANCIAL CORP US CINF 34.72 $3,366.54
CISCO SYSTEMS INC US CSCO 423.34 $18,931.70
CITIGROUP INC US C 260.34 $12,707.37
CITIGROUP INC 1.46200 06/09/2027 US 410,475.14 $362,311.74
CLARK CNTY NV 1.51000 11/01/2028 US 471,596.89 $403,771.30
COCA COLA CO/THE US KO 7,425.6 $458,234.01
COLGATE-PALMOLIVE CO US CL 125.47 $9,813.31
COMCAST CORP-CL A US CMCSA 456.47 $16,519.71
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 28,796.28 $26,904.94
COMMUNITY HEALTHCARE TRUST I US CHCT 502.05 $18,520.59
CONAGRA BRAND INC. US CAG 114.39 $3,932.72
CONOCOPHILLIPS US COP 115.18 $12,606.32
CONTROLADORA VUELA CIA DE AV MX VLRS 1,573.1 $13,969.13
COPART INC US CPRT 2,021.73 $241,899.78
COUSINS PROPERTIES INC US CUZ 1,099.85 $29,530.92
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 314,429.11 $290,605.55
CAALT 2021-2A A 0.96000 02/15/2030 US 142,655.66 $136,926.60
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 327,461.95 $289,897.64
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 31,697.19 $28,234.58
CUMMINS INC US CMI 27.88 $6,004.59
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 244,031.47 $217,317.58
KIMBERLY CLARK DE MEXICO S.A.B. MX 32,106.88 $43,586.88
DEVON ENERGY CORPORATION US DVN 84.77 $5,986.44
DIAMONDBACK ENERGY INC US FANG 27.2 $3,625.38
DIGITAL REALTY TRUST INC US DLR 409.44 $50,618.72
DOLLAR TREE STORES INC US DLTR 1,805.21 $244,931.29
DOW INC US DOW 91.13 $4,647.46
DREYFUS GVT CSH MANAGEMENT US 2,880,515.31 $2,880,515.31
DUKE RLTY INVTS INC US DRE 473.96 $27,892.33
EOG RESOURCES INC US EOG 63.05 $7,648.07
EASTMAN CHEM CO US EMN 31.78 $2,892.38
EBAY INC US EBAY 81.19 $3,582.84
ELECTRONIC ARTS US EA 2,109.25 $267,600.84
EMERSON ELEC CO US EMR 92.59 $7,568.71
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 541,956.97 $547,811.95
EQUINIX INC US EQIX 600.04 $394,450.26
EQUITY LIFESTYLE PROPERTIES US ELS 837.12 $58,682.23
ESSEX PROPERTY TRUST INC US ESS 124.52 $33,006.19
EXPEDIA GROUP INC 3.25000 02/15/2030 US 271,784.72 $235,186.31
EXTRA SPACE STORAGE INC US EXR 101.21 $20,113.31
FMC CORP US FMC 5,206.18 $562,684.19
FREMF 2015-K42 B FLT 3.97997 01/25/2048 US 32,097.52 $31,137.75
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 82,159.5 $82,460.63
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 370,865.11 $358,637.09
FREMF 2014-K41 B FLT 3.96402 11/25/2047 US 124,823.71 $121,352.99
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 16,250,748.95 $3,809.34
META PLATFORMS INC US META 4,064.62 $662,247.77
FHLM POOL G03332 6.00000 10/01/2037 US 3,653.78 $3,939.39
FHLM POOL G05900 6.00000 03/01/2040 US 7,324.78 $7,932.21
FHLM POOL G05906 6.00000 04/01/2040 US 7,523.31 $8,081.20
FHLM POOL G06789 6.00000 05/01/2040 US 10,815.37 $11,671.11
FHLM POOL G06995 6.00000 05/01/2040 US 21,632.55 $23,338.47
FHLM POOL G13331 5.50000 10/01/2023 US 483.19 $485.97
FHLM POOL G12988 6.00000 01/01/2023 US 8.62 $8.62
FHLM POOL G13078 6.00000 03/01/2023 US 22.83 $22.83
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 94,126.05 $95,100.05
FHLM POOL FG G08734 4.00000 11/01/2046 US 2,665.34 $2,646.22
FHLM POOL C91746 4.50000 12/01/2033 US 3,150.23 $3,194.24
FHLM POOL Q93451 4.50000 08/01/2040 US 32,235.79 $33,005.32
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 481,078.52 $449,724.04
FHLM POOL SD8230 4.50000 06/01/2052 US 427,880.22 $426,414.00
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 18,936.96 $18,795.10
FHLM POOL G60034 4.50000 02/01/2045 US 170,702.46 $174,536.50
FNR 2018-31 KP 3.50000 07/25/2047 US 8,158.49 $8,065.77
FHMS K030 X1 FLT 0.25907 04/25/2023 US 11,057,722.27 $7,012.92
FHMS K032 X1 FLT 0.17942 05/25/2023 US 7,083,174.89 $3,617.45
FHR 5189 CP 2.50000 06/25/2049 US 264,954.69 $241,215.54
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 17,505.6 $17,905.62
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 12,272.57 $12,553.01
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 5,061.02 $5,176.67
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,203.4 $6,345.16
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 94,983.77 $97,154.25
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 214,141.34 $228,162.18
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 49,538.01 $50,600.80
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 811.33 $882.60
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 23,933.48 $23,143.21
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 21,371.42 $21,198.44
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 78,899.08 $78,260.46
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 127,512.66 $122,813.68
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 461,498.48 $446,221.13
FN DS2696 3.00000 12/01/2051 US 416,013.91 $388,600.45
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 2.8 $2.79
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 22,258.23 $23,983.27
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 577.19 $617.26
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 275.48 $289.25
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 2,309.2 $2,525.39
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,424.59 $1,520.66
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 385.76 $408.80
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 874.28 $932.75
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 62.37 $62.99
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 503.5 $508.57
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 561.65 $586.25
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 291.79 $304.58
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,053.83 $1,078.01
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 50,729.3 $51,892.60
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 46,300.75 $47,362.49
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 20,783.96 $20,978.64
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 31,035.62 $30,199.76
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 533,801.34 $486,605.73
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 494,992.15 $473,044.05
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 488,456.07 $477,846.75
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 492,281.22 $486,254.47
FN MA4733 4.50000 09/01/2052 US 389,408.36 $387,773.71
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 10,930.36 $11,724.42
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 7,346.41 $7,894.39
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 301.14 $305.85
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 30,901.64 $31,609.23
FEDEX CORPORATION US FDX 1,103.13 $232,550.79
FIFTH THIRD BANCORP US FITB 146.19 $4,992.43
FLX 2021-1A A2 3.25000 11/27/2051 US 396,816.72 $362,572.99
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 283,754.87 $270,227.36
FORD MOTOR CREDIT 3.08700 01/09/2023 US 33,055.37 $32,796.44
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 273,806.52 $248,309.10
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 188,280.3 $170,247.70
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 168,402.33 $152,565.63
GSMBS 2021-INV1 A9 3.03319 12/25/2051 US 72,439.27 $67,981.84
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 203,294.21 $183,291.19
GNMA POOL 660997 5.50000 05/15/2037 US 3,434.66 $3,602.11
GENERAL DYNAMICS CORP US GD 41.72 $9,551.61
GENERAL MLS INC US GIS 105.1 $8,071.39
GENUINE PARTS CO US GPC 32.59 $5,084.46
GETTY REALTY CORP US GTY 649.89 $19,548.60
GILEAD SCIENCES INC US GILD 189.53 $12,029.24
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 186,843.67 $167,561.35
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 61,191.72 $58,071.04
GRAPHIC PACKAGING HOLDING CO US GPK 11,428.3 $254,508.29
GREENIDGE GEN HLD INC US 1,818.09 $25,471.51
GRUPO AEROPORTUARIO PAC-ADR MX PAC 53.61 $7,643.64
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 37.48 $7,925.73
AIRBUS SE FR AIR FP 238.3 $23,351.99
ADIDAS AG DE ADS GR 306.59 $45,461.68
HCA INC 4.12500 06/15/2029 US 370,751.74 $344,439.93
HDFC BANK LTD-ADR IN HDB 518.62 $31,661.49
L'OREAL FR OR FP 30.62 $10,516.78
HAWAII ST 2.68200 10/01/2038 US 256,418.91 $201,558.70
HEALTHCARE REALTY TRUST INC US HR 1,595.91 $38,812.44
HEINEKEN NV-SPN ADR NL HEINY 4,880.83 $219,246.90
HOME DEPOT INC US HD 92.08 $26,556.86
HONEYWELL INTERNATIONAL INC US HON 81.67 $15,464.58
IIP OPERATING PARTNER 5.50000 05/25/2026 US 56,445.56 $50,278.12
IDEXX LABORATORIES INC US IDXX 701.71 $243,927.53
KERRY GROUP PLC-A IE KYGA ID 199.83 $20,606.71
ILLINOIS TOOL WKS INC US ITW 47.92 $9,335.95
IMPRL 2021-NQM3 1.59500 11/25/2056 US 220,807.32 $188,453.79
INDEPENDENCE REALTY TRUST IN US IRT 710.24 $13,814.14
INTEL CORP US INTC 445.58 $14,223.06
INTERCONTINENTALEXCHANGE INC US ICE 5,288.57 $533,352.19
INTERNATIONAL FLVRS & FRAGRANCES US IFF 47.6 $5,258.40
INTUITIVE SURGICAL INC US ISRG 1,204.4 $247,793.99
INVITATION HOMES INC US INVH 1,501.63 $54,479.16
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 56,530.93 $53,777.87
JP MORGAN CHASE & CO US JPM 256.5 $29,171.56
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 53,491.41 $51,057.06
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 612,317.06 $595,605.90
JOHNSON & JOHNSON US JNJ 5,408.12 $872,545.31
KREF 2021-FL2 A 3.44971 02/15/2039 US 71,327.83 $69,220.87
KEYCORP US KEY 157.72 $2,790.15
KROGER CO US KR 130.22 $6,242.67
L3HARRIS TECHNOLOGIES INC US LHX 1,139.92 $260,118.44
BEIERSDORF AG DE BEI GR 474.44 $47,890.00
LENNAR CORP US LEN 45.63 $3,533.80
LIFE STORAGE INC US LSI 288.46 $36,706.68
LOCKHEED MARTIN CORP US LMT 33.09 $13,902.04
LULULEMON - ADR CA LULU 1,030.11 $308,992.41
MAGALLANES INC 4.05400 03/15/2029 US 635,745.15 $578,641.03
MARATHON PETROLEUM CORP US MPC 65.2 $6,568.73
MARRIOTT VACATIONS WORLD US VAC 135.95 $19,361.61
MASTERCARD INC-CLASS A US MA 2,321.04 $752,874.55
MCDONALDS CORP US MCD 57.37 $14,474.10
MERCADOLIBRE INC BR MELI 53.6 $45,844.05
MERCK & CO INC US MRK 267.28 $22,814.78
MICROSOFT CORP US MSFT 3,461.07 $904,967.09
MICROCHIP TECHNOLOGY INC US MCHP 76.27 $4,976.32
MID-AMERICA APARTMENT COMM US MAA 239.41 $39,663.71
MONDELEZ INTERNATIONAL INC US MDLZ 9,534.43 $589,799.64
MOODY'S CORPORATION US MCO 1,518.81 $432,132.93
MOTOROLA SOLUTIONS INC US MSI 29.03 $7,065.25
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 185,066.36 $173,151.72
NAVIENT CORP 6.75000 06/25/2025 US 80,632.41 $77,843.77
NESTLE S.A. - ADR CH NSRGY 3,252.98 $380,793.61
NETAPP INC US NTAP 52 $3,750.82
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 66,523.74 $63,629.17
NRZT 2015-2A A1 3.75000 08/25/2055 US 75,923.83 $72,365.54
NRZT 2016-4A A1 3.75000 11/25/2056 US 132,304.09 $126,304.99
KEYENCE CORP JP 6861 JP 98.45 $36,967.23
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 127,830.07 $123,592.79
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 276,622.09 $240,041.28
NEWMONT GOLDCORP CORP US NEM 2,481.06 $102,616.58
NIKE INC CLASS B US NKE 2,227.03 $237,067.55
NORFOLK SOUTHN CORP US NSC 1,121 $272,547.71
NIKON CORP JP 7731 JP 1,774.65 $20,258.05
NORTHROP GRUMMAN CORP US NOC 615.85 $294,372.32
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 85,346.51 $8.53
NOVARTIS AG- REG CH NVS 7,531.15 $606,408.59
NUCOR CORP US NUE 46.27 $6,151.38
OBX 2022-INV1 A1 3.00000 12/25/2051 US 210,580.93 $187,686.80
OMNICOM GROUP US OMC 52.32 $3,500.43
SONY CORP FIRST SECTION JP 6758 JP 422.65 $33,602.36
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 259,643.82 $232,314.89
OXFIN 2020-1A A2 3.10100 02/15/2028 US 232,479.25 $230,193.96
OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,483.02 $62,152.69
OXFIN 2022-1A 3.60200 02/15/2030 US 368,589.16 $345,953.11
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 36,897.98 $35,426.73
PPG INDUSTRIES INC US PPG 31.3 $3,974.56
PACKAGING CORP OF AMERICA US PKG 23.8 $3,258.42
PARKER HANNIFIN CORP US PH 17.28 $4,579.16
DEUTSCHE BOERSE AG DE DB1 GR 247.72 $41,883.62
PAYPAL HOLDINGS INC US PYPL 5,154.48 $481,634.74
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 417,589.07 $396,529.17
PELORUS FUND REIT 7.00000 09/30/2026 US 27,592.07 $25,689.54
NESTLE SA-REGISTERED CH NESN SW 639.52 $74,838.95
PEPSICO INC 3.90000 07/18/2032 US 468,447.78 $460,179.85
PFIZER INC US PFE 378.91 $17,138.04
PIONEER NATURAL RESOURCES CO US PXD 27.38 $6,933.05
POPULAR INC 6.12500 09/14/2023 PR 79,740.81 $80,761.99
PROCTER & GAMBLE CO US PG 204.18 $28,163.91
PROLOGIS US PLD 1,270.6 $158,202.84
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 368,034.65 $314,629.32
PFMT 2021-2 A2A 2.00000 04/25/2051 US 229,052.3 $200,151.77
PUBLIC STORAGE INC US PSA 221.51 $73,280.89
QUALCOMM INC US QCOM 131.88 $17,444.03
QUALCOMM INC 4.25000 05/20/2032 US 484,913.83 $490,674.73
QUEST DIAGNOSTICS INC US DGX 30.48 $3,819.12
RCKT 2021-6 A1 2.50000 12/25/2051 US 407,229.6 $347,319.71
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,559.55 $62,785.04
REGIONS FINANCIAL CORP. US RF 207.04 $4,486.47
REPUBLIC SERVICES INC US RSG 54.92 $7,838.23
RESTAURANT BRANDS INTERN CA QSR 407.38 $24,035.58
REXFORD INDUSTRIAL REALITY IN US REXR 784.69 $48,815.46
GETINGE AB-B SHS SE GETIB SS 1,822.42 $33,754.02
ROSS STORES INC US ROST 47.6 $4,106.10
HEINEKEN NV NL HEIA NA 456.01 $40,986.15
RYANAIR HOLDINGS - ADR IE RYAAY 3,258.73 $236,942.10
SBA TOWER TRUST 1.88400 01/15/2026 US 278,955.06 $251,372.85
S&P GLOBAL INC US SPGI 511.65 $180,192.21
SBA COMMUNICATIONS CORP US SBAC 2,427.42 $789,518.52
NAVIENT CORP 5.50000 01/25/2023 US 41,971.35 $41,775.04
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 17,825.15 $16,979.67
SMB 2015 B A3 4.14100 05/17/2032 US 93,430.57 $93,892.26
SMB 2020-BA A1A 1.29000 07/15/2053 US 242,329.11 $219,662.53
SOFI 2017-D A2FX 2.65000 09/25/2040 US 31,603.27 $31,029.70
SALESFORCE INC US CRM 3,257.23 $508,518.89
SEA LTD - ADR SG SE 540.44 $33,507.09
SEAGEN INC US SGEN 1,437.65 $221,815.07
SEMT 2013-6 A2 3.00000 05/25/2043 US 73,414.7 $68,631.04
SEMT 2013-7 A2 3.00000 06/25/2043 US 35,212.68 $31,574.12
SEMT 2013-8 A1 3.00000 06/25/2043 US 40,809.24 $38,243.17
SEMT 2013-2 1.87400 02/25/2043 US 30,703.09 $27,173.46
SERVICENOW INC US NOW 1,027.19 $446,437.59
SHOPIFY INC CA SHOP 445.99 $14,115.48
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 819,167.09 $685,871.93
SKYWORKS SOLUTIONS INC US SWKS 27.72 $2,731.72
SMB 2019-B A2A 2.84000 06/15/2037 US 85,195.78 $80,476.17
JM SMUCKER CO/THE-NEW COM WI US SJM 27.06 $3,787.72
SNOWFLAKE INC-CLASS A US SNOW 1,319.51 $238,764.70
SOFI 2017-F A2FX 2.84000 01/25/2041 US 8,856.28 $8,680.94
SOFI 2016-C A2B 2.36000 12/27/2032 US 722.27 $720.87
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,306.6 $2,282.09
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 55,575.31 $54,470.60
SONY CORP SPONSORED ADR JP SONY 3,065.6 $243,255.73
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 51,712.68 $47,450.97
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 124,159.19 $111,501.23
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 133,833.93 $137,382.73
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 302,193.98 $307,789.81
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 40,273.52 $40,072.43
STANLEY BLACK & DECKER INC US SWK 25.75 $2,268.58
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 401,013.98 $280,986.55
STEEL DYNAMICS INC US STLD 47.08 $3,800.14
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 51,093.07 $46,409.90
SUN COMMUNITIES US SUI 394.93 $60,705.10
SCML 2019-SBC8 2.86000 04/25/2041 US 187,560.75 $173,418.11
SYNCHRONOSS TECH US 3,536.88 $76,821.07
SYNERGY ONE LENDING 5.50000 10/14/2026 US 95,021.25 $82,048.10
TJX COMPANIES INC US TJX 125.01 $7,794.20
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 566.55 $47,221.57
TARGET CORP US TGT 44.66 $7,160.69
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,010,234.02 $952,137.72
TERRENO REALTY CORP US TRNO 502.24 $30,631.32
TEXAS INSTRUMENTS INC US TXN 77.11 $12,738.66
THERMO FISHER SCIENTIFIC INC US TMO 491.75 $268,163.35
3M CO US MMM 79.06 $9,830.84
TPMT 2016-5 A1 2.50000 10/25/2056 US 63,745.3 $63,107.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 33,070.58 $32,786.73
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 64,986.01 $64,256.04
TRACTOR SUPPLY COMPANY US TSCO 19.23 $3,560.78
TRAVELLERS COS INC US TRV 41.24 $6,665.89
TAH 2017-SFR2 A 2.92800 01/17/2036 US 138,285.14 $136,023.40
TCF 2021-1A 1.86000 03/20/2046 US 336,343.85 $290,816.53
TYSON FOODS INC -CL A US TSN 66.99 $5,049.64
UDR INC US UDR 1,219.16 $54,703.81
U.S. BANCORP US USB 213.66 $9,745.21
UNILEVER PLC - ADR GB UL 13,416.08 $608,955.86
UNION PAC CORP US UNP 72.54 $16,285.90
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 84,371.74 $71,076.86
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 14,670.01 $13,675.72
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 32,249.14 $32,277.62
UNITED PARCEL SERVICE US UPS 1,412.64 $274,772.26
TREASURY BOND 2.37500 02/15/2042 US 4,560,865.7 $3,796,920.69
TREASURY BOND 2.25000 11/15/2027 US 4,331,865.72 $4,111,211.31
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,182,258.81 $1,152,425.25
US TREASURY N/B 2.25000 11/15/2025 US 4,446,175.35 $4,281,875.29
US TREASURY N/B 2.00000 11/15/2026 US 4,670,013.54 $4,415,351.87
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 3,086,266.95 $3,051,787.58
US TREASURY N/B 1.37500 11/15/2031 US 989,822.2 $850,473.79
VF CORP US VFC 62.92 $2,608.19
VENTAS INC US VTR 459.83 $22,007.25
VERTEX PHARMACEUTICALS INC US VRTX 1,139.08 $320,946.12
PARAMOUNT GLOBAL CLASS B US PARA 105.94 $2,477.86
VISA INC - CLASS A SHARES US V 3,077.63 $611,556.21
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 115,053.69 $110,951.08
VISTRA OPERATIONS 4.87500 05/13/2024 US 402,156.75 $397,560.43
WAL MART STORES US WMT 236.96 $31,409.19
WALGREENS BOOTS ALLIANCE INC US WBA 118.29 $4,147.38
WASTE MANAGEMENT INC US WM 60.81 $10,278.80
WELLTOWER INC. US WELL 531.4 $40,731.64
WIN 2015-1 A1 3.50000 01/20/2045 US 22,473.92 $21,644.37
ZOETIS INC US ZTS 723.53 $113,254.26
ADMIRAL GROUP PLC GB ADM LN 2,329 $57,290.54
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,124.55 $7,359.67
UBISOFT ENTERTAINMENT FR UBI FP 722.16 $33,302.33
DANONE FR BN FP 364.2 $19,164.38
AIR LIQUIDE FR AI FP 536.02 $67,169.80
BRENNTAG AG DE BNR GR 460.92 $30,221.38
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 223,657.55 $10,251.27
KEYWORDS STUDIOS PLC IE KWS LN 370 $10,663.71
S4 CAPITAL PLC GB SFOR LN 17,030.53 $26,175.39
HELIOS TOWERS PLC GB HTWS LN 11,442.58 $16,398.02
AVANZA BANK HOLDING AB SE AZA SS 1,714.92 $27,488.43
AMERICAN TANKER INC 7.75000 07/02/2025 US 91,796.34 $88,746.65
SOFTWAREONE HOLDING AG CH SWON SW 2,303.89 $30,289.51
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,348.52 $21,373.97
SEASPAN CORP 6.50000 02/05/2024 MH 100,162.2 $99,407.71
PETROTAL CORP 12.00000 02/16/2024 CA 75,000.22 $76,500.22
FINECOBANK SPA IT FBK IM 5,239.56 $56,651.65
ALLFUNDS GROUP PLC GB ALLFG NA 2,776.23 $21,797.54
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 100,162.2 $100,439.88
ROTORK PLC GB ROR LN 10,049.96 $28,831.41
AUTO TRADER GROUP PLC GB AUTO LN 7,773.47 $58,694.99
CELLNEX TELECOM SA ES CLNX SM 843.75 $32,857.92
ASSA ABLOY AB-B SE ASSAB SS 1,652.77 $33,475.14
CLEANAWAY WASTE MANAGEMENT AU CWY AU 21,282.6 $40,422.16
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,081.76 $32,907.97
ADYEN NV NL ADYEN NA 33.7 $52,007.48
BANK OF N.T. BUTTERFIELD&SON BM NTB 669 $21,822.94
BUNGE LIMITED US BG 33.4 $3,311.97
EATON CORP PLC US ETN 64.55 $8,820.57
JOHNSON CONTROLS INTERNATIONAL US JCI 116.25 $6,293.71
MEDTRONIC INC IE MDT 3,321.9 $292,061.65
ROYALTY PHARMA PLC- CL A US RPRX 94.01 $3,930.64
STONECO LTD-A BR STNE 2,288.74 $21,697.30
TRANE TECHNOLOGIES IE TT 30.64 $4,720.49
ALCON INC CH ALC 4,396.06 $288,733.40
CHUBB LTD CH CB 57.21 $10,815.91
GARMIN LTD CH GRMN 42.38 $3,750.64
TE CONNECTIVITY LIMITED CH TEL 42.55 $5,369.75
LYONDELLBASELL INDU-CL A US LYB 43.85 $3,639.81
PLAYA HOTELS AND RESORTS US PLYA 1,373.81 $9,012.18
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 65,490.11 $62,978.47

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

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 life cycle 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

$19.00

Daily $ Change

-$0.06

Daily % Change

-0.32%

as of 09/27/2022

CUSIP

302027669

Inception Date

05/31/2007

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a moderately conservative mix of investments that seeks a more stable rate of growth than that of the stock market by placing a greater emphasis on bonds to help maintain stability. The portfolio is diversified primarily among fixed income securities, with a focus on intermediate maturities Stock exposure can range from 17% - 55%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 08/31/2022

YTD

-11.83%

1 Year

-11.52%

3 Year

4.17%

5 Year

4.77%

10 Year

5.59%

Inception
(01/01/2000)

6.34%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.70%
Net 0.69%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 18.67%
TREASURY BONDS 10.74%
GOVERNMENT AGENCY 7.21%
AMAZON.COM INC 1.61%
TENCENT HOLDINGS 3.97500 04/11/2029 1.29%
MICROSOFT CORP 1.23%
JOHNSON & JOHNSON 1.18%
SBA COMMUNICATIONS CORP 1.07%
MASTERCARD INC-CLASS A 1.02%
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 0.93%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds
63.32%
Stocks
32.92%
Cash
3.76%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
8.66%
Small Capitalization
0.60%
Mid Capitalization
2.25%
Large Capitalization
21.41%
Long Term Fixed Income
17.36%
Intermediate Term Fixed Income
38.36%
Short Term Fixed Income
7.60%
Cash
3.76%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 130.57 $13,403.52
ACTIVISION INC US ATVI 3,484.36 $273,487.13
ADIDAS AG-SPONSORED ADR DE ADDYY 2,347.21 $174,116.27
ADMIRAL GROUP PLC GB AMIGY 9,573.15 $241,051.79
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 113,593.19 $97,357.54
ADYEN NV UNSPON ADR NL ADYEY 17,296.94 $268,275.50
AGREE REALTY CORP US ADC 239.13 $18,010.94
AIR LIQUIDE-ADR FR AIQUY 13,706.03 $343,610.17
AIR LEASE CORP 3.62500 04/01/2027 US 263,551.69 $244,509.90
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 24,166.44 $24,330.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 558,840.31 $469,971.01
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 150,319.1 $125,265.44
ALLSTATE CORPORATION US ALL 54.44 $6,559.61
ALPHABET INC-CL A US GOOGL 4,193 $453,766.18
AMAZON.COM INC US AMZN 9,356.62 $1,186,139.23
AMAZON.COM INC 3.30000 04/13/2027 US 514,791.75 $503,686.49
DIAGEO PLC GB DGE LN 1,173.27 $50,974.43
BAE SYSTEMS PLC GB BA/ LN 4,591.52 $41,351.70
AMERICAN HOMES 4 RENT- A US AMH 1,185.79 $42,166.70
AMERICAN TOWER REIT INC US AMT 131.54 $33,418.35
ANALOG DEVICES INC US ADI 75.48 $11,436.92
APPLE HOSPITALITY REIT INC US APLE 2,638.72 $41,982.05
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 29,071.69 $29,360.10
ARCHER-DANIELS-MIDLAND CO US ADM 85.59 $7,522.77
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 252,852.52 $231,706.85
AUTOMATIC DATA PROCESSING US ADP 52 $12,709.52
AVALONBAY COMMUNITIES INC US AVB 202.29 $40,642.36
BAE SYSTEMS PLC -SPON ADR GB BAESY 6,880.81 $248,397.35
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 240,294.34 $236,552.63
BANK OF AMERICA CORP 2.68700 04/22/2032 US 428,724.38 $357,819.12
BARRICK GOLD CORP CA GOLD 8,294.39 $123,171.72
BAXTER INTERNATIONAL INC US BAX 65.86 $3,784.34
BEST BUY INC US BBY 52.65 $3,721.53
BIOMARIN PHARMACEUTICAL INC US BMRN 3,836.66 $342,230.35
BLACKROCK INC US BLK 368.69 $245,692.22
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 227,859.43 $201,610.08
DECHRA PHARMACEUTICALS PLC GB DPH LN 936.88 $37,889.99
BRANDYWINE REALTY TRUST US BDN 1,475.8 $11,850.64
BRISTOL MYERS SQUIBB CO US BMY 245.27 $16,533.65
BROADRIDGE FINANCIAL SOLUTIONS US BR 25.59 $4,380.03
JONAH ENERGY PARENT LLC US 1,124.56 $63,998.47
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 213,691.84 $194,190.36
SORT 2020-1 A2 1.99000 07/15/2060 US 177,014.53 $151,752.75
C.H. ROBINSON WORLDWIDE INC US CHRW 34.38 $3,924.64
CIM 2019-INV1 A1 4.00000 02/25/2049 US 7,785.77 $7,726.40
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 580,484.52 $571,320.40
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 322,491.4 $313,302.00
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 54,873.09 $50,971.66
COTERRA ENERGY INC US CTRA 127.88 $3,952.63
CAMDEN PROPERTY TRUST US CPT 226.7 $29,133.24
CAMECO CORP CA CCJ 631.51 $18,408.64
CAMPBELL SOUP CO US CPB 74.01 $3,728.52
CANADIAN NATIONAL RAILWAY CO CA CNI 3,476.95 $413,444.62
CARETRUST REIT INC US CTRE 1,597.15 $34,402.71
CATERPILLAR INC US CAT 67.78 $12,519.32
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,416.9 $27,530.31
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 592,132.87 $646,732.17
CHARTER COMMUNICATIONS INC-A US CHTR 832.29 $343,428.61
CHEVRON CORP US CVX 124.33 $19,651.30
CINCINNATI FINANCIAL CORP US CINF 34.72 $3,366.54
CISCO SYSTEMS INC US CSCO 423.34 $18,931.70
CITIGROUP INC US C 260.34 $12,707.37
CITIGROUP INC 1.46200 06/09/2027 US 410,475.14 $362,311.74
CLARK CNTY NV 1.51000 11/01/2028 US 471,596.89 $403,771.30
COCA COLA CO/THE US KO 7,425.6 $458,234.01
COLGATE-PALMOLIVE CO US CL 125.47 $9,813.31
COMCAST CORP-CL A US CMCSA 456.47 $16,519.71
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 28,796.28 $26,904.94
COMMUNITY HEALTHCARE TRUST I US CHCT 502.05 $18,520.59
CONAGRA BRAND INC. US CAG 114.39 $3,932.72
CONOCOPHILLIPS US COP 115.18 $12,606.32
CONTROLADORA VUELA CIA DE AV MX VLRS 1,573.1 $13,969.13
COPART INC US CPRT 2,021.73 $241,899.78
COUSINS PROPERTIES INC US CUZ 1,099.85 $29,530.92
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 314,429.11 $290,605.55
CAALT 2021-2A A 0.96000 02/15/2030 US 142,655.66 $136,926.60
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 327,461.95 $289,897.64
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 31,697.19 $28,234.58
CUMMINS INC US CMI 27.88 $6,004.59
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 244,031.47 $217,317.58
KIMBERLY CLARK DE MEXICO S.A.B. MX 32,106.88 $43,586.88
DEVON ENERGY CORPORATION US DVN 84.77 $5,986.44
DIAMONDBACK ENERGY INC US FANG 27.2 $3,625.38
DIGITAL REALTY TRUST INC US DLR 409.44 $50,618.72
DOLLAR TREE STORES INC US DLTR 1,805.21 $244,931.29
DOW INC US DOW 91.13 $4,647.46
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EOG RESOURCES INC US EOG 63.05 $7,648.07
EASTMAN CHEM CO US EMN 31.78 $2,892.38
EBAY INC US EBAY 81.19 $3,582.84
ELECTRONIC ARTS US EA 2,109.25 $267,600.84
EMERSON ELEC CO US EMR 92.59 $7,568.71
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 541,956.97 $547,811.95
EQUINIX INC US EQIX 600.04 $394,450.26
EQUITY LIFESTYLE PROPERTIES US ELS 837.12 $58,682.23
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EXPEDIA GROUP INC 3.25000 02/15/2030 US 271,784.72 $235,186.31
EXTRA SPACE STORAGE INC US EXR 101.21 $20,113.31
FMC CORP US FMC 5,206.18 $562,684.19
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META PLATFORMS INC US META 4,064.62 $662,247.77
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FEDEX CORPORATION US FDX 1,103.13 $232,550.79
FIFTH THIRD BANCORP US FITB 146.19 $4,992.43
FLX 2021-1A A2 3.25000 11/27/2051 US 396,816.72 $362,572.99
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 283,754.87 $270,227.36
FORD MOTOR CREDIT 3.08700 01/09/2023 US 33,055.37 $32,796.44
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 273,806.52 $248,309.10
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 188,280.3 $170,247.70
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 168,402.33 $152,565.63
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GNMA POOL 660997 5.50000 05/15/2037 US 3,434.66 $3,602.11
GENERAL DYNAMICS CORP US GD 41.72 $9,551.61
GENERAL MLS INC US GIS 105.1 $8,071.39
GENUINE PARTS CO US GPC 32.59 $5,084.46
GETTY REALTY CORP US GTY 649.89 $19,548.60
GILEAD SCIENCES INC US GILD 189.53 $12,029.24
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 186,843.67 $167,561.35
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 61,191.72 $58,071.04
GRAPHIC PACKAGING HOLDING CO US GPK 11,428.3 $254,508.29
GREENIDGE GEN HLD INC US 1,818.09 $25,471.51
GRUPO AEROPORTUARIO PAC-ADR MX PAC 53.61 $7,643.64
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 37.48 $7,925.73
AIRBUS SE FR AIR FP 238.3 $23,351.99
ADIDAS AG DE ADS GR 306.59 $45,461.68
HCA INC 4.12500 06/15/2029 US 370,751.74 $344,439.93
HDFC BANK LTD-ADR IN HDB 518.62 $31,661.49
L'OREAL FR OR FP 30.62 $10,516.78
HAWAII ST 2.68200 10/01/2038 US 256,418.91 $201,558.70
HEALTHCARE REALTY TRUST INC US HR 1,595.91 $38,812.44
HEINEKEN NV-SPN ADR NL HEINY 4,880.83 $219,246.90
HOME DEPOT INC US HD 92.08 $26,556.86
HONEYWELL INTERNATIONAL INC US HON 81.67 $15,464.58
IIP OPERATING PARTNER 5.50000 05/25/2026 US 56,445.56 $50,278.12
IDEXX LABORATORIES INC US IDXX 701.71 $243,927.53
KERRY GROUP PLC-A IE KYGA ID 199.83 $20,606.71
ILLINOIS TOOL WKS INC US ITW 47.92 $9,335.95
IMPRL 2021-NQM3 1.59500 11/25/2056 US 220,807.32 $188,453.79
INDEPENDENCE REALTY TRUST IN US IRT 710.24 $13,814.14
INTEL CORP US INTC 445.58 $14,223.06
INTERCONTINENTALEXCHANGE INC US ICE 5,288.57 $533,352.19
INTERNATIONAL FLVRS & FRAGRANCES US IFF 47.6 $5,258.40
INTUITIVE SURGICAL INC US ISRG 1,204.4 $247,793.99
INVITATION HOMES INC US INVH 1,501.63 $54,479.16
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 56,530.93 $53,777.87
JP MORGAN CHASE & CO US JPM 256.5 $29,171.56
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 53,491.41 $51,057.06
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 612,317.06 $595,605.90
JOHNSON & JOHNSON US JNJ 5,408.12 $872,545.31
KREF 2021-FL2 A 3.44971 02/15/2039 US 71,327.83 $69,220.87
KEYCORP US KEY 157.72 $2,790.15
KROGER CO US KR 130.22 $6,242.67
L3HARRIS TECHNOLOGIES INC US LHX 1,139.92 $260,118.44
BEIERSDORF AG DE BEI GR 474.44 $47,890.00
LENNAR CORP US LEN 45.63 $3,533.80
LIFE STORAGE INC US LSI 288.46 $36,706.68
LOCKHEED MARTIN CORP US LMT 33.09 $13,902.04
LULULEMON - ADR CA LULU 1,030.11 $308,992.41
MAGALLANES INC 4.05400 03/15/2029 US 635,745.15 $578,641.03
MARATHON PETROLEUM CORP US MPC 65.2 $6,568.73
MARRIOTT VACATIONS WORLD US VAC 135.95 $19,361.61
MASTERCARD INC-CLASS A US MA 2,321.04 $752,874.55
MCDONALDS CORP US MCD 57.37 $14,474.10
MERCADOLIBRE INC BR MELI 53.6 $45,844.05
MERCK & CO INC US MRK 267.28 $22,814.78
MICROSOFT CORP US MSFT 3,461.07 $904,967.09
MICROCHIP TECHNOLOGY INC US MCHP 76.27 $4,976.32
MID-AMERICA APARTMENT COMM US MAA 239.41 $39,663.71
MONDELEZ INTERNATIONAL INC US MDLZ 9,534.43 $589,799.64
MOODY'S CORPORATION US MCO 1,518.81 $432,132.93
MOTOROLA SOLUTIONS INC US MSI 29.03 $7,065.25
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 185,066.36 $173,151.72
NAVIENT CORP 6.75000 06/25/2025 US 80,632.41 $77,843.77
NESTLE S.A. - ADR CH NSRGY 3,252.98 $380,793.61
NETAPP INC US NTAP 52 $3,750.82
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 66,523.74 $63,629.17
NRZT 2015-2A A1 3.75000 08/25/2055 US 75,923.83 $72,365.54
NRZT 2016-4A A1 3.75000 11/25/2056 US 132,304.09 $126,304.99
KEYENCE CORP JP 6861 JP 98.45 $36,967.23
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 127,830.07 $123,592.79
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 276,622.09 $240,041.28
NEWMONT GOLDCORP CORP US NEM 2,481.06 $102,616.58
NIKE INC CLASS B US NKE 2,227.03 $237,067.55
NORFOLK SOUTHN CORP US NSC 1,121 $272,547.71
NIKON CORP JP 7731 JP 1,774.65 $20,258.05
NORTHROP GRUMMAN CORP US NOC 615.85 $294,372.32
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 85,346.51 $8.53
NOVARTIS AG- REG CH NVS 7,531.15 $606,408.59
NUCOR CORP US NUE 46.27 $6,151.38
OBX 2022-INV1 A1 3.00000 12/25/2051 US 210,580.93 $187,686.80
OMNICOM GROUP US OMC 52.32 $3,500.43
SONY CORP FIRST SECTION JP 6758 JP 422.65 $33,602.36
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 259,643.82 $232,314.89
OXFIN 2020-1A A2 3.10100 02/15/2028 US 232,479.25 $230,193.96
OXFIN 2019-1A A2 4.45900 02/15/2027 US 62,483.02 $62,152.69
OXFIN 2022-1A 3.60200 02/15/2030 US 368,589.16 $345,953.11
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 36,897.98 $35,426.73
PPG INDUSTRIES INC US PPG 31.3 $3,974.56
PACKAGING CORP OF AMERICA US PKG 23.8 $3,258.42
PARKER HANNIFIN CORP US PH 17.28 $4,579.16
DEUTSCHE BOERSE AG DE DB1 GR 247.72 $41,883.62
PAYPAL HOLDINGS INC US PYPL 5,154.48 $481,634.74
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 417,589.07 $396,529.17
PELORUS FUND REIT 7.00000 09/30/2026 US 27,592.07 $25,689.54
NESTLE SA-REGISTERED CH NESN SW 639.52 $74,838.95
PEPSICO INC 3.90000 07/18/2032 US 468,447.78 $460,179.85
PFIZER INC US PFE 378.91 $17,138.04
PIONEER NATURAL RESOURCES CO US PXD 27.38 $6,933.05
POPULAR INC 6.12500 09/14/2023 PR 79,740.81 $80,761.99
PROCTER & GAMBLE CO US PG 204.18 $28,163.91
PROLOGIS US PLD 1,270.6 $158,202.84
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 368,034.65 $314,629.32
PFMT 2021-2 A2A 2.00000 04/25/2051 US 229,052.3 $200,151.77
PUBLIC STORAGE INC US PSA 221.51 $73,280.89
QUALCOMM INC US QCOM 131.88 $17,444.03
QUALCOMM INC 4.25000 05/20/2032 US 484,913.83 $490,674.73
QUEST DIAGNOSTICS INC US DGX 30.48 $3,819.12
RCKT 2021-6 A1 2.50000 12/25/2051 US 407,229.6 $347,319.71
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,559.55 $62,785.04
REGIONS FINANCIAL CORP. US RF 207.04 $4,486.47
REPUBLIC SERVICES INC US RSG 54.92 $7,838.23
RESTAURANT BRANDS INTERN CA QSR 407.38 $24,035.58
REXFORD INDUSTRIAL REALITY IN US REXR 784.69 $48,815.46
GETINGE AB-B SHS SE GETIB SS 1,822.42 $33,754.02
ROSS STORES INC US ROST 47.6 $4,106.10
HEINEKEN NV NL HEIA NA 456.01 $40,986.15
RYANAIR HOLDINGS - ADR IE RYAAY 3,258.73 $236,942.10
SBA TOWER TRUST 1.88400 01/15/2026 US 278,955.06 $251,372.85
S&P GLOBAL INC US SPGI 511.65 $180,192.21
SBA COMMUNICATIONS CORP US SBAC 2,427.42 $789,518.52
NAVIENT CORP 5.50000 01/25/2023 US 41,971.35 $41,775.04
SLMA 2006-10 A6 FLT 2.93300 03/25/2044 US 17,825.15 $16,979.67
SMB 2015 B A3 4.14100 05/17/2032 US 93,430.57 $93,892.26
SMB 2020-BA A1A 1.29000 07/15/2053 US 242,329.11 $219,662.53
SOFI 2017-D A2FX 2.65000 09/25/2040 US 31,603.27 $31,029.70
SALESFORCE INC US CRM 3,257.23 $508,518.89
SEA LTD - ADR SG SE 540.44 $33,507.09
SEAGEN INC US SGEN 1,437.65 $221,815.07
SEMT 2013-6 A2 3.00000 05/25/2043 US 73,414.7 $68,631.04
SEMT 2013-7 A2 3.00000 06/25/2043 US 35,212.68 $31,574.12
SEMT 2013-8 A1 3.00000 06/25/2043 US 40,809.24 $38,243.17
SEMT 2013-2 1.87400 02/25/2043 US 30,703.09 $27,173.46
SERVICENOW INC US NOW 1,027.19 $446,437.59
SHOPIFY INC CA SHOP 445.99 $14,115.48
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 819,167.09 $685,871.93
SKYWORKS SOLUTIONS INC US SWKS 27.72 $2,731.72
SMB 2019-B A2A 2.84000 06/15/2037 US 85,195.78 $80,476.17
JM SMUCKER CO/THE-NEW COM WI US SJM 27.06 $3,787.72
SNOWFLAKE INC-CLASS A US SNOW 1,319.51 $238,764.70
SOFI 2017-F A2FX 2.84000 01/25/2041 US 8,856.28 $8,680.94
SOFI 2016-C A2B 2.36000 12/27/2032 US 722.27 $720.87
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,306.6 $2,282.09
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 55,575.31 $54,470.60
SONY CORP SPONSORED ADR JP SONY 3,065.6 $243,255.73
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 51,712.68 $47,450.97
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 124,159.19 $111,501.23
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 133,833.93 $137,382.73
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 302,193.98 $307,789.81
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 40,273.52 $40,072.43
STANLEY BLACK & DECKER INC US SWK 25.75 $2,268.58
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 401,013.98 $280,986.55
STEEL DYNAMICS INC US STLD 47.08 $3,800.14
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 51,093.07 $46,409.90
SUN COMMUNITIES US SUI 394.93 $60,705.10
SCML 2019-SBC8 2.86000 04/25/2041 US 187,560.75 $173,418.11
SYNCHRONOSS TECH US 3,536.88 $76,821.07
SYNERGY ONE LENDING 5.50000 10/14/2026 US 95,021.25 $82,048.10
TJX COMPANIES INC US TJX 125.01 $7,794.20
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 566.55 $47,221.57
TARGET CORP US TGT 44.66 $7,160.69
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,010,234.02 $952,137.72
TERRENO REALTY CORP US TRNO 502.24 $30,631.32
TEXAS INSTRUMENTS INC US TXN 77.11 $12,738.66
THERMO FISHER SCIENTIFIC INC US TMO 491.75 $268,163.35
3M CO US MMM 79.06 $9,830.84
TPMT 2016-5 A1 2.50000 10/25/2056 US 63,745.3 $63,107.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 33,070.58 $32,786.73
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 64,986.01 $64,256.04
TRACTOR SUPPLY COMPANY US TSCO 19.23 $3,560.78
TRAVELLERS COS INC US TRV 41.24 $6,665.89
TAH 2017-SFR2 A 2.92800 01/17/2036 US 138,285.14 $136,023.40
TCF 2021-1A 1.86000 03/20/2046 US 336,343.85 $290,816.53
TYSON FOODS INC -CL A US TSN 66.99 $5,049.64
UDR INC US UDR 1,219.16 $54,703.81
U.S. BANCORP US USB 213.66 $9,745.21
UNILEVER PLC - ADR GB UL 13,416.08 $608,955.86
UNION PAC CORP US UNP 72.54 $16,285.90
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 84,371.74 $71,076.86
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 14,670.01 $13,675.72
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 32,249.14 $32,277.62
UNITED PARCEL SERVICE US UPS 1,412.64 $274,772.26
TREASURY BOND 2.37500 02/15/2042 US 4,560,865.7 $3,796,920.69
TREASURY BOND 2.25000 11/15/2027 US 4,331,865.72 $4,111,211.31
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 1,182,258.81 $1,152,425.25
US TREASURY N/B 2.25000 11/15/2025 US 4,446,175.35 $4,281,875.29
US TREASURY N/B 2.00000 11/15/2026 US 4,670,013.54 $4,415,351.87
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 3,086,266.95 $3,051,787.58
US TREASURY N/B 1.37500 11/15/2031 US 989,822.2 $850,473.79
VF CORP US VFC 62.92 $2,608.19
VENTAS INC US VTR 459.83 $22,007.25
VERTEX PHARMACEUTICALS INC US VRTX 1,139.08 $320,946.12
PARAMOUNT GLOBAL CLASS B US PARA 105.94 $2,477.86
VISA INC - CLASS A SHARES US V 3,077.63 $611,556.21
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 115,053.69 $110,951.08
VISTRA OPERATIONS 4.87500 05/13/2024 US 402,156.75 $397,560.43
WAL MART STORES US WMT 236.96 $31,409.19
WALGREENS BOOTS ALLIANCE INC US WBA 118.29 $4,147.38
WASTE MANAGEMENT INC US WM 60.81 $10,278.80
WELLTOWER INC. US WELL 531.4 $40,731.64
WIN 2015-1 A1 3.50000 01/20/2045 US 22,473.92 $21,644.37
ZOETIS INC US ZTS 723.53 $113,254.26
ADMIRAL GROUP PLC GB ADM LN 2,329 $57,290.54
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,124.55 $7,359.67
UBISOFT ENTERTAINMENT FR UBI FP 722.16 $33,302.33
DANONE FR BN FP 364.2 $19,164.38
AIR LIQUIDE FR AI FP 536.02 $67,169.80
BRENNTAG AG DE BNR GR 460.92 $30,221.38
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 223,657.55 $10,251.27
KEYWORDS STUDIOS PLC IE KWS LN 370 $10,663.71
S4 CAPITAL PLC GB SFOR LN 17,030.53 $26,175.39
HELIOS TOWERS PLC GB HTWS LN 11,442.58 $16,398.02
AVANZA BANK HOLDING AB SE AZA SS 1,714.92 $27,488.43
AMERICAN TANKER INC 7.75000 07/02/2025 US 91,796.34 $88,746.65
SOFTWAREONE HOLDING AG CH SWON SW 2,303.89 $30,289.51
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,348.52 $21,373.97
SEASPAN CORP 6.50000 02/05/2024 MH 100,162.2 $99,407.71
PETROTAL CORP 12.00000 02/16/2024 CA 75,000.22 $76,500.22
FINECOBANK SPA IT FBK IM 5,239.56 $56,651.65
ALLFUNDS GROUP PLC GB ALLFG NA 2,776.23 $21,797.54
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 100,162.2 $100,439.88
ROTORK PLC GB ROR LN 10,049.96 $28,831.41
AUTO TRADER GROUP PLC GB AUTO LN 7,773.47 $58,694.99
CELLNEX TELECOM SA ES CLNX SM 843.75 $32,857.92
ASSA ABLOY AB-B SE ASSAB SS 1,652.77 $33,475.14
CLEANAWAY WASTE MANAGEMENT AU CWY AU 21,282.6 $40,422.16
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,081.76 $32,907.97
ADYEN NV NL ADYEN NA 33.7 $52,007.48
BANK OF N.T. BUTTERFIELD&SON BM NTB 669 $21,822.94
BUNGE LIMITED US BG 33.4 $3,311.97
EATON CORP PLC US ETN 64.55 $8,820.57
JOHNSON CONTROLS INTERNATIONAL US JCI 116.25 $6,293.71
MEDTRONIC INC IE MDT 3,321.9 $292,061.65
ROYALTY PHARMA PLC- CL A US RPRX 94.01 $3,930.64
STONECO LTD-A BR STNE 2,288.74 $21,697.30
TRANE TECHNOLOGIES IE TT 30.64 $4,720.49
ALCON INC CH ALC 4,396.06 $288,733.40
CHUBB LTD CH CB 57.21 $10,815.91
GARMIN LTD CH GRMN 42.38 $3,750.64
TE CONNECTIVITY LIMITED CH TEL 42.55 $5,369.75
LYONDELLBASELL INDU-CL A US LYB 43.85 $3,639.81
PLAYA HOTELS AND RESORTS US PLYA 1,373.81 $9,012.18
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 65,490.11 $62,978.47

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

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 life cycle 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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