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 20% - 60%.

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 15% - 45%.

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

$22.60

Daily $ Change

$0.01

Daily % Change

0.04%

as of 11/24/2021

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 10/31/2021

YTD

6.88%

1 Year

15.49%

3 Year

12.58%

5 Year

9.01%

10 Year

7.63%

Inception
(01/01/2000)

7.17%

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 10/31/2021

TREASURY NOTES 22.39%
GOVERNMENT AGENCY 2.48%
AMAZON.COM INC 1.78%
ALPHABET INC-CL A 1.74%
META PLATFORMS INC 1.53%
MICROSOFT CORP 1.17%
JOHNSON & JOHNSON 1.12%
TENCENT HOLDINGS 3.97500 04/11/2029 1.12%
SBA COMMUNICATIONS CORP 1.02%
UNILEVER PLC - ADR 0.97%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Bonds 55.83%
Stocks 41.68%
Cash 2.49%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities 11.08%
Small Capitalization 0.87%
Mid Capitalization 4.02%
Large Capitalization 25.71%
Long Term Fixed Income 17.72%
Intermediate Term Fixed Income 30.22%
Short Term Fixed Income 7.89%
Cash 2.49%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 516,176.57 $523,967.65
008474108 AGNICO EAGLE MINES LTD CA AEM 4,205.03 $223,076.90
008492100 AGREE REALTY CORP US ADC 275.35 $19,566.10
009126202 AIR LIQUIDE-ADR FR AIQUY 13,458.06 $449,768.28
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 232,647.08 $248,331.77
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 30,827.31 $34,768.76
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 457,642.87 $495,986.72
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 344,806.24 $343,175.86
020002101 ALLSTATE CORPORATION US ALL 60.32 $7,460.22
02079K305 ALPHABET INC-CL A US GOOGL 530.43 $1,570,559.66
023135106 AMAZON.COM INC US AMZN 475.82 $1,604,663.59
0237400 DIAGEO PLC GB DGE LN 6,163 $306,619.56
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 802.35 $43,102.28
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,501.93 $60,978.51
03027X100 AMERICAN TOWER REIT INC US AMT 1,598.23 $450,652.21
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 698,329.77 $767,777.26
032654105 ANALOG DEVICES INC US ADI 198.18 $34,382.46
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,420.84 $38,031.41
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 28,733.85 $30,210.12
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 115.24 $7,403.18
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 210,370.66 $221,972.43
053015103 AUTOMATIC DATA PROCESSING US ADP 193.01 $43,329.48
053484101 AVALONBAY COMMUNITIES INC US AVB 180.9 $42,816.57
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 662,461.02 $655,990.29
05545E209 BHP GROUP PLC SPONSORED ADR AU BBL 620.22 $32,859.00
055622104 BP PLC-SPONS ADR GB BP 6,106.85 $175,816.29
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 214,890.37 $244,770.88
05591XAA9 BRSP 2021-FL1 A 1.23038 08/19/2038 US 174,345.75 $174,345.69
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 697,382.98 $705,098.34
067901108 BARRICK GOLD CORP CA GOLD 14,574.93 $267,741.47
084423102 WR BERKLEY CORP US WRB 4,796.77 $381,822.99
086516101 BEST BUY INC US BBY 59.1 $7,224.78
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 6,900.2 $546,703.17
09261HAC1 BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 256,861.22 $252,464.41
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 247,627.54 $249,914.08
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 567.32 $39,752.05
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 39.75 $3,452.76
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 626,914.41 $632,004.43
105368203 BRANDYWINE REALTY TRUST US BDN 1,698.86 $22,509.92
110122108 BRISTOL MYERS SQUIBB CO US BMY 890.47 $52,003.18
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 662.28 $23,126.66
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 28.42 $5,070.12
12345678 JONAH ENERGY PARENT LLC US 1,105.18 $69,073.50
125269100 CF INDUSTRIES HOLDINGS INC US CF 66.6 $3,782.88
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 215,047.53 $215,089.47
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 180,155.5 $179,071.07
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 38.53 $3,737.06
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,858.43 $16,041.42
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 627,644.68 $663,321.14
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 331,256.92 $356,750.18
12626K203 CRH PLC -SPONSORED ADR IE CRH 375.77 $18,014.22
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 348,691.49 $368,711.05
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 64,202.37 $64,292.21
133131102 CAMDEN PROPERTY TRUST US CPT 236.68 $38,602.17
13321L108 CAMECO CORP CA CCJ 18,492.73 $449,373.39
134429109 CAMPBELL SOUP CO US CPB 82.12 $3,280.57
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 4,641.21 $616,863.03
14174T107 CARETRUST REIT INC US CTRE 851.82 $17,675.23
149123101 CATERPILLAR INC US CAT 263.49 $53,753.84
15135UAF6 CENOVUS ENERGY INC 6.75000 11/15/2039 CA 570,157.36 $780,539.48
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 88,461.42 $97,086.40
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 713.74 $481,695.60
172062101 CINCINNATI FINANCIAL CORP US CINF 40.8 $4,954.38
17275R102 CISCO SYSTEMS INC US CSCO 1,529.54 $85,608.38
172967424 CITIGROUP INC US C 813.19 $56,239.94
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 386,616.03 $433,686.08
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 466,715.49 $456,881.79
189054109 CLOROX COMPANY US CLX 28.24 $4,604.06
191216100 COCA COLA CO/THE US KO 9,061.1 $510,773.97
194162103 COLGATE-PALMOLIVE CO US CL 449.89 $34,276.92
20030N101 COMCAST CORP-CL A US CMCSA 1,491.82 $76,724.52
200340107 COMERICA INC US CMA 40.97 $3,486.24
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 29,458.76 $30,022.61
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 706.76 $33,811.40
205887102 CONAGRA BRAND INC. US CAG 121.17 $3,901.68
20825C104 CONOCOPHILLIPS US COP 5,283.62 $393,576.69
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 1,314.74 $23,796.82
217204106 COPART INC US CPRT 2,134.79 $331,512.22
222795502 COUSINS PROPERTIES INC US CUZ 1,301.14 $51,538.07
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 61,077.59 $61,812.71
22535GAB8 CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 339,974.2 $337,474.58
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 93,004.51 $93,416.69
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 111,050.17 $110,770.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 375,345.04 $392,562.73
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 36,091.3 $38,173.49
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 41,424.84 $41,786.23
231021106 CUMMINS INC US CMI 104.47 $25,055.00
23802WAG6 COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 241,719.7 $241,686.34
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 20,485.63 $32,378.19
253868103 DIGITAL REALTY TRUST INC US DLR 379.93 $59,955.98
256677105 DOLLAR GENERAL CORP US DG 1,527.72 $338,421.06
256746108 DOLLAR TREE STORES INC US DLTR 3,042.67 $327,878.65
25960P109 DOUGLAS EMMETT INC US DEI 608.31 $19,879.64
264411505 DUKE RLTY INVTS INC US DRE 1,199.56 $67,462.97
26884L109 EQT CORP US EQT 20,719.88 $412,532.83
277432100 EASTMAN CHEM CO US EMN 36.61 $3,808.81
285512109 ELECTRONIC ARTS US EA 2,257.67 $316,638.31
291011104 EMERSON ELEC CO US EMR 382.92 $37,146.87
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 539,552.18 $702,330.92
29444U700 EQUINIX INC US EQIX 609.08 $509,844.42
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 650.99 $55,014.91
297178105 ESSEX PROPERTY TRUST INC US ESS 158.85 $53,999.22
30212P303 EXPEDIA INC US EXPE 3,117.59 $512,562.79
30212PAR6 EXPEDIA GROUP INC 3.25000 02/15/2030 US 247,982.87 $255,041.27
30225T102 EXTRA SPACE STORAGE INC US EXR 246.82 $48,713.99
30231G102 EXXON MOBIL CORP US XOM 4,079.49 $263,004.84
302491303 FMC CORP US FMC 7,042.38 $640,926.69
30262SAR9 FREMF 2015-K42 B FLT 3.84953 01/25/2048 US 24,986.29 $26,633.54
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 89,527.41 $93,108.50
30286XAN9 FREMF 2015-K43 B FLT 3.73157 02/25/2048 US 400,995.21 $427,467.11
30287EAE0 FREMF 2014-K41 B FLT 3.83340 11/25/2047 US 97,168.9 $103,684.89
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 18,403,625.68 $17,494.49
30303M102 META PLATFORMS INC US FB 4,281.3 $1,385,298.67
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 4,888.27 $5,778.56
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 8,699.72 $10,129.91
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 12,937.02 $15,262.29
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 10,937.12 $12,907.90
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 29,036.92 $34,269.65
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,549.86 $1,587.75
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 55.23 $55.43
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 37.01 $37.13
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 170.89 $173.43
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 283.54 $287.59
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 133,629.31 $145,524.93
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 2,831.9 $3,075.99
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 3,157.55 $3,457.71
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 30,304.18 $33,767.59
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 20,299.63 $21,833.65
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 222,901.88 $245,618.76
3136AY6W8 FNA 2017-M15 A1 FLT 2.95925 09/25/2027 US 275,468.8 $289,955.65
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 26,666.8 $27,437.43
3137AUPF0 FHMS K021 x1 FLT 1.37556 06/25/2022 US 4,391,464.95 $12,881.48
3137B3NB0 FHMS K030 X1 FLT 0.14755 04/25/2023 US 11,008,534.33 $23,223.60
3137B4GZ3 FHMS K032 X1 FLT 0.07332 05/25/2023 US 6,991,574.04 $10,028.71
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 14,665.59 $15,865.35
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 16,879.68 $18,974.52
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 4,045.28 $4,372.84
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,296.98 $7,011.96
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 130,207.1 $144,864.46
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 266,441.58 $297,213.75
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,520.98 $43,449.23
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 786.49 $896.97
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 31,438.52 $33,702.35
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 27,334.46 $29,657.21
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 87,014 $94,061.77
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 30.54 $30.74
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 29,414.55 $34,762.77
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 462.79 $520.54
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 228.24 $256.50
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 1,943.26 $2,239.26
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,146.69 $1,327.84
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 316.65 $372.00
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 816.93 $934.55
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 161.46 $168.20
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 1,403.23 $1,461.79
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 575.42 $645.33
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 814.16 $905.04
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 467.73 $515.20
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 10.46 $10.45
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,041.73 $1,160.42
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 61,028.96 $66,962.86
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 69,179.33 $75,907.56
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 23,000.22 $25,054.20
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 40,762.4 $43,278.75
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 664,555.24 $683,967.91
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 15,169.78 $17,927.70
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,853.11 $10,462.31
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 623.67 $650.16
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 41,593.73 $46,362.71
31620R303 FNF GROUP US FNF 81.94 $3,925.87
316773100 FIFTH THIRD BANCORP US FITB 159.18 $6,929.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 281,430.7 $291,139.94
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 77,162.14 $92,787.47
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 19,677.83 $19,677.64
357081AE8 FREMF 2015-K720 B FLT 3.39040 07/25/2022 US 182,996.64 $186,000.17
36257MAA3 GSMS 2019-70P A 1.09000 10/15/2036 US 221,542.07 $221,122.11
36262LAJ9 GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 286,002.76 $291,298.38
36263CAH2 GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 210,904.77 $213,881.90
36263KAF8 GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 204,249.16 $208,158.69
36263KAJ0 GSMBS 2021-INV1 A9 0.89867 12/25/2051 US 61,353.75 $61,509.31
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 3,917.75 $4,423.88
369550108 GENERAL DYNAMICS CORP US GD 153.77 $31,176.03
36962G4B7 GENERAL ELECTRIC CO 6.87500 01/10/2039 US 256,344.83 $389,923.87
370334104 GENERAL MLS INC US GIS 121 $7,477.55
372460105 GENUINE PARTS CO US GPC 37.66 $4,937.43
374297109 GETTY REALTY CORP US GTY 731.49 $23,495.59
375558103 GILEAD SCIENCES INC US GILD 601.15 $39,002.91
38138JAC7 GLM 2021-9A A FLT 1.20150 01/20/2033 KY 138,812.71 $138,845.75
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 235,536.34 $236,703.61
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 151,697.71 $154,783.68
384802104 WW GRAINGER INC US GWW 12.55 $5,813.37
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 34,938.11 $696,316.51
39531G209 GREENIDGE GEN HLD INC US 1,825.42 $45,270.35
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 118.56 $14,971.14
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 88.92 $17,929.98
4012250 AIRBUS SE FR AIR FP 168.77 $21,649.73
4031976 ADIDAS AG DE ADS GR 98.33 $32,183.89
404119BX6 HCA INC 4.12500 06/15/2029 US 294,312.37 $326,121.66
416515104 HARTFORD FINL SVCS US HIG 82.29 $6,001.50
419792A22 HAWAII ST 2.68200 10/01/2038 US 256,733.35 $257,467.61
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 685.58 $22,891.66
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 617.79 $21,937.65
423012301 HEINEKEN NV-SPN ADR NL HEINY 5,272.28 $293,824.26
427866108 HERSHEY CO/THE US HSY 42.54 $7,459.45
42806MAA7 HERTZ 2021-1A A 1.21000 12/26/2025 US 296,055.82 $294,465.03
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 98.1 $14,121.39
437076102 HOME DEPOT INC US HD 291.37 $108,313.26
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 727.8 $21,528.18
438516106 HONEYWELL INTERNATIONAL INC US HON 301.67 $65,950.53
443510607 HUBBELL INC US HUBB 16.74 $3,336.89
446150104 HUNTINGTON BANCSHARES US HBAN 268.49 $4,226.07
448579102 HYATT HOTEL US H 3,802.89 $324,006.03
44988FAD2 IIP OPERATING PARTNER 5.50000 05/25/2026 US 89,527.41 $94,473.30
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 29,605.58 $29,087.48
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G29183103 EATON CORP PLC US ETN 245.62 $40,469.00
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G5494J103 LINDE PLC GB LIN 200.79 $64,091.04
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Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate 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

$22.60

Daily $ Change

$0.01

Daily % Change

0.04%

as of 11/24/2021

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 20% - 60%.

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 15% - 45%.

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 10/31/2021

YTD

6.88%

1 Year

15.49%

3 Year

12.58%

5 Year

9.01%

10 Year

7.63%

Inception
(01/01/2000)

7.17%

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 10/31/2021

TREASURY NOTES 22.39%
GOVERNMENT AGENCY 2.48%
AMAZON.COM INC 1.78%
ALPHABET INC-CL A 1.74%
META PLATFORMS INC 1.53%
MICROSOFT CORP 1.17%
JOHNSON & JOHNSON 1.12%
TENCENT HOLDINGS 3.97500 04/11/2029 1.12%
SBA COMMUNICATIONS CORP 1.02%
UNILEVER PLC - ADR 0.97%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Bonds
55.83%
Stocks
41.68%
Cash
2.49%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities
11.08%
Small Capitalization
0.87%
Mid Capitalization
4.02%
Large Capitalization
25.71%
Long Term Fixed Income
17.72%
Intermediate Term Fixed Income
30.22%
Short Term Fixed Income
7.89%
Cash
2.49%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 516,176.57 $523,967.65
008474108 AGNICO EAGLE MINES LTD CA AEM 4,205.03 $223,076.90
008492100 AGREE REALTY CORP US ADC 275.35 $19,566.10
009126202 AIR LIQUIDE-ADR FR AIQUY 13,458.06 $449,768.28
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 232,647.08 $248,331.77
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 30,827.31 $34,768.76
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 457,642.87 $495,986.72
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 344,806.24 $343,175.86
020002101 ALLSTATE CORPORATION US ALL 60.32 $7,460.22
02079K305 ALPHABET INC-CL A US GOOGL 530.43 $1,570,559.66
023135106 AMAZON.COM INC US AMZN 475.82 $1,604,663.59
0237400 DIAGEO PLC GB DGE LN 6,163 $306,619.56
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 802.35 $43,102.28
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,501.93 $60,978.51
03027X100 AMERICAN TOWER REIT INC US AMT 1,598.23 $450,652.21
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 698,329.77 $767,777.26
032654105 ANALOG DEVICES INC US ADI 198.18 $34,382.46
03784Y200 APPLE HOSPITALITY REIT INC US APLE 2,420.84 $38,031.41
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 28,733.85 $30,210.12
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 115.24 $7,403.18
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 210,370.66 $221,972.43
053015103 AUTOMATIC DATA PROCESSING US ADP 193.01 $43,329.48
053484101 AVALONBAY COMMUNITIES INC US AVB 180.9 $42,816.57
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 662,461.02 $655,990.29
05545E209 BHP GROUP PLC SPONSORED ADR AU BBL 620.22 $32,859.00
055622104 BP PLC-SPONS ADR GB BP 6,106.85 $175,816.29
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 214,890.37 $244,770.88
05591XAA9 BRSP 2021-FL1 A 1.23038 08/19/2038 US 174,345.75 $174,345.69
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 697,382.98 $705,098.34
067901108 BARRICK GOLD CORP CA GOLD 14,574.93 $267,741.47
084423102 WR BERKLEY CORP US WRB 4,796.77 $381,822.99
086516101 BEST BUY INC US BBY 59.1 $7,224.78
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 6,900.2 $546,703.17
09261HAC1 BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 256,861.22 $252,464.41
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 247,627.54 $249,914.08
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 567.32 $39,752.05
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 39.75 $3,452.76
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 626,914.41 $632,004.43
105368203 BRANDYWINE REALTY TRUST US BDN 1,698.86 $22,509.92
110122108 BRISTOL MYERS SQUIBB CO US BMY 890.47 $52,003.18
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 662.28 $23,126.66
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 28.42 $5,070.12
12345678 JONAH ENERGY PARENT LLC US 1,105.18 $69,073.50
125269100 CF INDUSTRIES HOLDINGS INC US CF 66.6 $3,782.88
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 215,047.53 $215,089.47
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 180,155.5 $179,071.07
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 38.53 $3,737.06
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,858.43 $16,041.42
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 627,644.68 $663,321.14
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 331,256.92 $356,750.18
12626K203 CRH PLC -SPONSORED ADR IE CRH 375.77 $18,014.22
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 348,691.49 $368,711.05
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 64,202.37 $64,292.21
133131102 CAMDEN PROPERTY TRUST US CPT 236.68 $38,602.17
13321L108 CAMECO CORP CA CCJ 18,492.73 $449,373.39
134429109 CAMPBELL SOUP CO US CPB 82.12 $3,280.57
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 4,641.21 $616,863.03
14174T107 CARETRUST REIT INC US CTRE 851.82 $17,675.23
149123101 CATERPILLAR INC US CAT 263.49 $53,753.84
15135UAF6 CENOVUS ENERGY INC 6.75000 11/15/2039 CA 570,157.36 $780,539.48
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 88,461.42 $97,086.40
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 713.74 $481,695.60
172062101 CINCINNATI FINANCIAL CORP US CINF 40.8 $4,954.38
17275R102 CISCO SYSTEMS INC US CSCO 1,529.54 $85,608.38
172967424 CITIGROUP INC US C 813.19 $56,239.94
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 386,616.03 $433,686.08
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 466,715.49 $456,881.79
189054109 CLOROX COMPANY US CLX 28.24 $4,604.06
191216100 COCA COLA CO/THE US KO 9,061.1 $510,773.97
194162103 COLGATE-PALMOLIVE CO US CL 449.89 $34,276.92
20030N101 COMCAST CORP-CL A US CMCSA 1,491.82 $76,724.52
200340107 COMERICA INC US CMA 40.97 $3,486.24
20268CAA6 CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 29,458.76 $30,022.61
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 706.76 $33,811.40
205887102 CONAGRA BRAND INC. US CAG 121.17 $3,901.68
20825C104 CONOCOPHILLIPS US COP 5,283.62 $393,576.69
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 1,314.74 $23,796.82
217204106 COPART INC US CPRT 2,134.79 $331,512.22
222795502 COUSINS PROPERTIES INC US CUZ 1,301.14 $51,538.07
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 61,077.59 $61,812.71
22535GAB8 CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 339,974.2 $337,474.58
22536BAA0 CAALT 2020-3A A 1.24000 10/15/2029 US 93,004.51 $93,416.69
22537CAA7 CAALT 2021-2A A 0.96000 02/15/2030 US 111,050.17 $110,770.00
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 375,345.04 $392,562.73
22822VAR2 CROWN CASTLE INTL CORP 3.30000 07/01/2030 US 36,091.3 $38,173.49
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 41,424.84 $41,786.23
231021106 CUMMINS INC US CMI 104.47 $25,055.00
23802WAG6 COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 241,719.7 $241,686.34
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 20,485.63 $32,378.19
253868103 DIGITAL REALTY TRUST INC US DLR 379.93 $59,955.98
256677105 DOLLAR GENERAL CORP US DG 1,527.72 $338,421.06
256746108 DOLLAR TREE STORES INC US DLTR 3,042.67 $327,878.65
25960P109 DOUGLAS EMMETT INC US DEI 608.31 $19,879.64
264411505 DUKE RLTY INVTS INC US DRE 1,199.56 $67,462.97
26884L109 EQT CORP US EQT 20,719.88 $412,532.83
277432100 EASTMAN CHEM CO US EMN 36.61 $3,808.81
285512109 ELECTRONIC ARTS US EA 2,257.67 $316,638.31
291011104 EMERSON ELEC CO US EMR 382.92 $37,146.87
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 539,552.18 $702,330.92
29444U700 EQUINIX INC US EQIX 609.08 $509,844.42
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 650.99 $55,014.91
297178105 ESSEX PROPERTY TRUST INC US ESS 158.85 $53,999.22
30212P303 EXPEDIA INC US EXPE 3,117.59 $512,562.79
30212PAR6 EXPEDIA GROUP INC 3.25000 02/15/2030 US 247,982.87 $255,041.27
30225T102 EXTRA SPACE STORAGE INC US EXR 246.82 $48,713.99
30231G102 EXXON MOBIL CORP US XOM 4,079.49 $263,004.84
302491303 FMC CORP US FMC 7,042.38 $640,926.69
30262SAR9 FREMF 2015-K42 B FLT 3.84953 01/25/2048 US 24,986.29 $26,633.54
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 89,527.41 $93,108.50
30286XAN9 FREMF 2015-K43 B FLT 3.73157 02/25/2048 US 400,995.21 $427,467.11
30287EAE0 FREMF 2014-K41 B FLT 3.83340 11/25/2047 US 97,168.9 $103,684.89
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 18,403,625.68 $17,494.49
30303M102 META PLATFORMS INC US FB 4,281.3 $1,385,298.67
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 4,888.27 $5,778.56
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 8,699.72 $10,129.91
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 12,937.02 $15,262.29
3128M82W3 FHLM POOL G06789 6.00000 05/01/2040 US 10,937.12 $12,907.90
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 29,036.92 $34,269.65
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,549.86 $1,587.75
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 55.23 $55.43
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 37.01 $37.13
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 170.89 $173.43
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 283.54 $287.59
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 133,629.31 $145,524.93
3128MJY87 FHLM POOL FG G08734 4.00000 11/01/2046 US 2,831.9 $3,075.99
3128P75F6 FHLM POOL C91746 4.50000 12/01/2033 US 3,157.55 $3,457.71
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 30,304.18 $33,767.59
3132XTPU6 FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 20,299.63 $21,833.65
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 222,901.88 $245,618.76
3136AY6W8 FNA 2017-M15 A1 FLT 2.95925 09/25/2027 US 275,468.8 $289,955.65
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 26,666.8 $27,437.43
3137AUPF0 FHMS K021 x1 FLT 1.37556 06/25/2022 US 4,391,464.95 $12,881.48
3137B3NB0 FHMS K030 X1 FLT 0.14755 04/25/2023 US 11,008,534.33 $23,223.60
3137B4GZ3 FHMS K032 X1 FLT 0.07332 05/25/2023 US 6,991,574.04 $10,028.71
3138A7BL1 FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 14,665.59 $15,865.35
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 16,879.68 $18,974.52
3138AJ4A7 FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 4,045.28 $4,372.84
3138EPLE2 FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,296.98 $7,011.96
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 130,207.1 $144,864.46
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 266,441.58 $297,213.75
3138WDRZ6 FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 39,520.98 $43,449.23
31403DVZ9 FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 786.49 $896.97
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 31,438.52 $33,702.35
3140F4UB0 FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 27,334.46 $29,657.21
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 87,014 $94,061.77
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 30.54 $30.74
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 29,414.55 $34,762.77
31410WSY5 FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 462.79 $520.54
31413CCL1 FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 228.24 $256.50
31413MR66 FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 1,943.26 $2,239.26
31413S6R0 FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,146.69 $1,327.84
31414CQ50 FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 316.65 $372.00
31414DJ23 FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 816.93 $934.55
31414QX28 FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 161.46 $168.20
31414UF52 FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 1,403.23 $1,461.79
31415ALX7 FEDERAL NATL MTG ASSN 981042 6.00000 04/01/2038 US 575.42 $645.33
31415BBC2 FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 814.16 $905.04
31415BBT5 FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 467.73 $515.20
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 10.46 $10.45
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,041.73 $1,160.42
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 61,028.96 $66,962.86
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 69,179.33 $75,907.56
31418CRE6 FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 23,000.22 $25,054.20
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 40,762.4 $43,278.75
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 664,555.24 $683,967.91
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 15,169.78 $17,927.70
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,853.11 $10,462.31
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 623.67 $650.16
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 41,593.73 $46,362.71
31620R303 FNF GROUP US FNF 81.94 $3,925.87
316773100 FIFTH THIRD BANCORP US FITB 159.18 $6,929.00
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 281,430.7 $291,139.94
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 77,162.14 $92,787.47
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 19,677.83 $19,677.64
357081AE8 FREMF 2015-K720 B FLT 3.39040 07/25/2022 US 182,996.64 $186,000.17
36257MAA3 GSMS 2019-70P A 1.09000 10/15/2036 US 221,542.07 $221,122.11
36262LAJ9 GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 286,002.76 $291,298.38
36263CAH2 GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 210,904.77 $213,881.90
36263KAF8 GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 204,249.16 $208,158.69
36263KAJ0 GSMBS 2021-INV1 A9 0.89867 12/25/2051 US 61,353.75 $61,509.31
36294VKJ8 GNMA POOL 660997 5.50000 05/15/2037 US 3,917.75 $4,423.88
369550108 GENERAL DYNAMICS CORP US GD 153.77 $31,176.03
36962G4B7 GENERAL ELECTRIC CO 6.87500 01/10/2039 US 256,344.83 $389,923.87
370334104 GENERAL MLS INC US GIS 121 $7,477.55
372460105 GENUINE PARTS CO US GPC 37.66 $4,937.43
374297109 GETTY REALTY CORP US GTY 731.49 $23,495.59
375558103 GILEAD SCIENCES INC US GILD 601.15 $39,002.91
38138JAC7 GLM 2021-9A A FLT 1.20150 01/20/2033 KY 138,812.71 $138,845.75
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 235,536.34 $236,703.61
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 151,697.71 $154,783.68
384802104 WW GRAINGER INC US GWW 12.55 $5,813.37
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 34,938.11 $696,316.51
39531G209 GREENIDGE GEN HLD INC US 1,825.42 $45,270.35
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 118.56 $14,971.14
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 88.92 $17,929.98
4012250 AIRBUS SE FR AIR FP 168.77 $21,649.73
4031976 ADIDAS AG DE ADS GR 98.33 $32,183.89
404119BX6 HCA INC 4.12500 06/15/2029 US 294,312.37 $326,121.66
416515104 HARTFORD FINL SVCS US HIG 82.29 $6,001.50
419792A22 HAWAII ST 2.68200 10/01/2038 US 256,733.35 $257,467.61
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 685.58 $22,891.66
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 617.79 $21,937.65
423012301 HEINEKEN NV-SPN ADR NL HEINY 5,272.28 $293,824.26
427866108 HERSHEY CO/THE US HSY 42.54 $7,459.45
42806MAA7 HERTZ 2021-1A A 1.21000 12/26/2025 US 296,055.82 $294,465.03
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 98.1 $14,121.39
437076102 HOME DEPOT INC US HD 291.37 $108,313.26
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 727.8 $21,528.18
438516106 HONEYWELL INTERNATIONAL INC US HON 301.67 $65,950.53
443510607 HUBBELL INC US HUBB 16.74 $3,336.89
446150104 HUNTINGTON BANCSHARES US HBAN 268.49 $4,226.07
448579102 HYATT HOTEL US H 3,802.89 $324,006.03
44988FAD2 IIP OPERATING PARTNER 5.50000 05/25/2026 US 89,527.41 $94,473.30
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 29,605.58 $29,087.48
45168D104 IDEXX LABORATORIES INC US IDXX 455.71 $303,567.10
4519579 KERRY GROUP PLC-A IE KYGA ID 165.45 $22,205.86
452308109 ILLINOIS TOOL WKS INC US ITW 168.03 $38,288.55
452762AA5 IMPRL 2021-NQM3 1.59500 11/25/2056 US 240,847.97 $240,149.51
45778Q107 INSPERITY INC US NSP 2,763.32 $345,415.53
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 122.48 $32,224.42
458140100 INTEL CORP US INTC 1,379.36 $67,588.60
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 5,155.86 $713,880.08
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 388.06 $48,546.51
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 49.17 $7,249.45
46187BAA1 IHSFR 2017-SFR2 A 0.93600 12/17/2036 US 33,565.14 $33,524.36
46187BAB9 IHSFR 2017-SFR2 B 1.23600 12/17/2036 US 28,384.62 $28,407.48
46187W107 INVITATION HOMES INC US INVH 1,961.95 $80,930.41
464288620 ISHARES BROAD USD INVESTMENT 1.43400 US 5,705.46 $343,640.13
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 55,724.25 $57,334.54
46625H100 JP MORGAN CHASE & CO US JPM 601.82 $102,243.10
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 31,613.06 $31,899.22
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 28,253.26 $28,577.43
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478160104 JOHNSON & JOHNSON US JNJ 6,216.93 $1,012,614.36
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750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 2,681.53 $46,470.91
75134P402 RAMACO RESOURCES INC US 3,588.53 $95,813.88
756109104 REALTY INCOME CORP US O 181.92 $12,994.22
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759509102 RELIANCE STEEL & ALUMINUM US RS 19.18 $2,803.06
760759100 REPUBLIC SERVICES INC US RSG 65.73 $8,847.04
76131D103 RESTAURANT BRANDS INTERN CA QSR 348.69 $19,749.89
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78409V104 S&P GLOBAL INC US SPGI 553.74 $262,559.70
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78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 318,835.9 $316,946.96
78471CAB5 SOFI 2017-D A2FX 2.65000 09/25/2040 US 40,323.07 $41,033.15
79466L302 SALESFORCE.COM US CRM 2,398.43 $718,784.53
80105N105 SANOFI-AVENTIS-ADR FR SNY 628.96 $31,718.47
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81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 42,423.37 $42,402.00
81762P102 SERVICENOW INC US NOW 523.76 $365,458.75
831865209 SMITH (A.O.) CORP US AOS 46.9 $3,426.91
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832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 29.29 $3,598.58
833034101 SNAP-ON INC US SNA 15.52 $3,153.47
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83402DAC5 SOFI 2016-C A2B 2.36000 12/27/2032 US 6,113 $6,155.17
83404LAC5 SOFI 2016-D A2B 2.34000 04/25/2033 US 3,532.84 $3,582.98
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 96,241.56 $98,455.34
835699307 SONY CORP SPONSORED ADR JP SONY 5,504.18 $637,329.40
837151XF1 SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 40,255.69 $40,624.43
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 134,246.22 $137,069.42
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 433,656.18 $486,225.89
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858119100 STEEL DYNAMICS INC US STLD 59.28 $3,917.06
86212XAA8 STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 40,000.95 $41,405.92
866674104 SUN COMMUNITIES US SUI 422.25 $82,752.81
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 236,623.05 $235,211.33
87105L104 SWITCH INC - A US SWCH 2,888.94 $73,032.51
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 3,505.66 $84,766.93
87168KAA8 SYNERGY ONE LENDING 5.50000 10/14/2026 US 95,451.84 $96,833.03
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 92,303.66 $92,534.42
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 371.18 $42,203.40
874060205 TAKEDA PHARMACEUTIC - SP ADR JP TAK 1,059.14 $14,849.16
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 927,878.47 $1,012,000.19
88146M101 TERRENO REALTY CORP US TRNO 355.19 $25,975.14
883556102 THERMO FISHER SCIENTIFIC INC US TMO 595.29 $376,857.86
88579Y101 3M CO US MMM 265.89 $47,508.32
89151E109 TOTALENERGIES SE SPON ADR FR TTE 3,071.98 $153,936.83
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89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 76,635.67 $77,598.57
89177EAA7 TPMT 2019-HY1 A1 1.08925 10/25/2048 US 92,694.15 $93,077.66
89417E109 TRAVELLERS COS INC US TRV 49.34 $7,937.79
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 221,876.06 $224,413.28
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 84,534.3 $83,917.41
89642JAC9 TRNTS 2021-17A B1 FLT 1.81308 10/20/2034 US 396,010.78 $396,147.40
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 358,316.98 $352,576.39
902494103 TYSON FOODS INC -CL A US TSN 78.63 $6,288.04
902653104 UDR INC US UDR 904.42 $50,222.50
902973304 U.S. BANCORP US USB 767.73 $46,348.01
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 22,525.71 $234,943.17
904767704 UNILEVER PLC - ADR GB UL 16,366.9 $876,938.39
907818108 UNION PAC CORP US UNP 260.98 $63,000.25
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 86,126.2 $85,061.64
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91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 34,869.15 $38,539.13
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91282CCB5 US TREASURY N/B 1.62500 05/15/2031 US 714,817.56 $720,178.69
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92276F100 VENTAS INC US VTR 345.05 $18,415.33
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93065PAA9 WBHT 2019-WBM A FLT 1.14000 12/15/2033 US 236,328.26 $236,040.79
931142103 WAL MART STORES US WMT 666.59 $99,601.25
94106L109 WASTE MANAGEMENT INC US WM 240.37 $38,513.79
95040Q104 WELLTOWER INC. US WELL 413.19 $33,220.37
963320106 WHIRLPOOL CORP US WHR 17.09 $3,602.22
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 501,518.25 $502,799.60
969904101 WILLIAMS - SONOMA INC US WSM 20.92 $3,885.75
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 32,060.98 $32,482.65
98978V103 ZOETIS INC US ZTS 781.83 $169,031.42
B02J639 ADMIRAL GROUP PLC GB ADM LN 1,515.94 $59,549.26
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B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 521.47 $27,306.05
B1Y9TB3 DANONE FR BN FP 701.74 $45,743.59
B1YXBJ7 AIR LIQUIDE FR AI FP 326.03 $54,432.69
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 82,198.25 $67,298.42
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 850,076.96 $41,354.75
B4YVF56 BRENNTAG AG DE BNR GR 239.38 $22,773.90
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 222,930.19 $10,996.54
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 264.83 $10,278.65
BFZZM64 S4 CAPITAL PLC GB SFOR LN 3,005.2 $29,845.13
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 9,717.89 $14,154.69
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 7,322.52 $10,327.87
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 724.76 $28,813.14
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 91,964.93 $94,195.08
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 1,436.09 $33,276.85
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,464.97 $29,255.52
BN6725160 SEASPAN CORP 6.50000 02/05/2024 MH 97,500.84 $102,863.39
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 88,139.28 $92,546.24
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,308.08 $82,274.90
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 95,549.57 $99,610.43
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 97,500.84 $97,988.34
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 97,500.84 $103,290.44
BR8705906 TIDEWATER INC 8.50000 11/16/2026 US 69,738.3 $69,681.81
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 5,368.11 $44,503.94
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 913.05 $26,791.28
BYQ8KW7 CLEANAWAY WASTE MANAGEMENT AU CWY AU 17,215.42 $35,011.99
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 1,375.24 $41,250.26
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 300.22 $18,363.83
BZ1HM42 ADYEN NV NL ADYEN NA 11.16 $33,667.53
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 554.77 $19,916.18
G16962105 BUNGE LIMITED US BG 41.67 $3,860.18
G29183103 EATON CORP PLC US ETN 245.62 $40,469.00
G3223R108 EVEREST RE GROUP LTD BM RE 11.68 $3,054.62
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 523.55 $38,412.70
G5494J103 LINDE PLC GB LIN 200.79 $64,091.04
G5960L103 MEDTRONIC INC IE MDT 3,080.95 $369,282.57
G85158106 STONECO LTD-A BR STNE 903.29 $30,585.24
H01301128 ALCON INC CH ALC 9,006.11 $750,749.19
H1467J104 CHUBB LTD CH CB 217.44 $42,483.75
H2906T109 GARMIN LTD CH GRMN 43.24 $6,208.94
USD US DOLLAR US 2,303,906.01 $2,303,906.01
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 26,151.86 $27,328.70
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 60,439.58 $61,799.47

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate 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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