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

$26.43

Daily $ Change

$0.19

Daily % Change

0.72%

as of 06/23/2022

CUSIP

563821172

Inception Date

01/06/2005

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 05/31/2022

YTD

-9.34%

1 Year

-6.83%

3 Year

6.65%

5 Year

5.68%

10 Year

6.24%

Inception
(01/01/2000)

6.27%

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.89%*

*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 05/31/2022

TREASURY NOTES 23.97%
GOVERNMENT AGENCY 6.30%
TREASURY BONDS 2.07%
AMAZON.COM INC 1.91%
JOHNSON & JOHNSON 1.28%
TENCENT HOLDINGS 3.97500 04/11/2029 1.27%
MICROSOFT CORP 1.24%
MASTERCARD INC-CLASS A 1.09%
SBA COMMUNICATIONS CORP 1.08%
VISA INC - CLASS A SHARES 1.04%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds 59.51%
Stocks 34.72%
Cash 5.77%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 9.36%
Small Capitalization 0.58%
Mid Capitalization 2.53%
Large Capitalization 22.26%
Long Term Fixed Income 16.17%
Intermediate Term Fixed Income 30.40%
Short Term Fixed Income 12.93%
Cash 5.77%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 131.54 $15,451.04
ACTIVISION INC US ATVI 3,509.98 $273,356.96
ADIDAS AG-SPONSORED ADR DE ADDYY 2,364.39 $234,405.44
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 275,637.9 $241,722.70
ADYEN NV UNSPON ADR NL ADYEY 17,436.36 $269,914.86
AGREE REALTY CORP US ADC 240.9 $16,759.66
AIR LIQUIDE-ADR FR AIQUY 12,552.59 $438,210.81
AIR LEASE CORP 3.62500 04/01/2027 US 264,230.79 $251,282.33
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 27,539.67 $28,892.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 560,687.14 $488,158.54
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 150,855.65 $125,488.56
ALLSTATE CORPORATION US ALL 50.56 $6,910.70
ALPHABET INC-CL A US GOOGL 211.2 $480,531.81
AMAZON.COM INC US AMZN 608.91 $1,463,943.88
AMAZON.COM INC 3.30000 04/13/2027 US 516,322.12 $515,846.46
DIAGEO PLC GB DGE LN 5,385.94 $250,237.43
AMERICAN HOMES 4 RENT- A US AMH 857.86 $31,706.62
AMERICAN TOWER REIT INC US AMT 128.25 $32,847.96
ANALOG DEVICES INC US ADI 76.04 $12,804.42
APPLE HOSPITALITY REIT INC US APLE 2,923.84 $48,857.38
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 29,128.06 $29,465.98
ARCHER-DANIELS-MIDLAND CO US ADM 86.22 $7,830.92
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 253,720.92 $241,263.59
AUTOMATIC DATA PROCESSING US ADP 52.39 $11,679.07
AVALONBAY COMMUNITIES INC US AVB 203.79 $42,381.02
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 670,516.15 $581,025.86
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 218,114.11 $220,812.05
BANK OF AMERICA CORP 2.68700 04/22/2032 US 429,996.83 $376,208.99
BARRICK GOLD CORP CA GOLD 8,199.87 $168,015.42
BAXTER INTERNATIONAL INC US BAX 66.35 $5,045.76
BEST BUY INC US BBY 47.61 $3,907.04
BIOMARIN PHARMACEUTICAL INC US BMRN 6,424.03 $482,637.52
BLACKROCK INC US BLK 371.39 $248,490.47
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 284,152 $247,222.36
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 277,511.6 $252,464.40
DECHRA PHARMACEUTICALS PLC GB DPH LN 944.48 $43,292.60
BRANDYWINE REALTY TRUST US BDN 1,454.12 $16,213.43
BRISTOL MYERS SQUIBB CO US BMY 231.88 $17,495.33
BROADRIDGE FINANCIAL SOLUTIONS US BR 25.78 $3,769.52
JONAH ENERGY PARENT LLC US 1,126.15 $60,429.00
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 214,218.99 $196,531.02
SORT 2020-1 A2 1.99000 07/15/2060 US 177,876.5 $156,192.23
C.H. ROBINSON WORLDWIDE INC US CHRW 33.34 $3,617.39
CIM 2019-INV1 A1 4.00000 02/25/2049 US 8,401.6 $8,391.82
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 586,651.42 $585,059.45
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 325,917.46 $319,897.04
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 56,245.55 $52,771.40
COTERRA ENERGY INC US CTRA 128.85 $4,423.43
CAMDEN PROPERTY TRUST US CPT 196.07 $28,134.66
CAMECO CORP CA CCJ 636.53 $15,575.93
CAMPBELL SOUP CO US CPB 74.56 $3,572.02
CANADIAN NATIONAL RAILWAY CO CA CNI 3,502.59 $398,524.29
CARETRUST REIT INC US CTRE 971 $17,992.56
CATERPILLAR INC US CAT 68.29 $14,740.67
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 654,019.01 $737,017.40
CENTURYLINK INC 7.50000 04/01/2024 US 61,924.32 $64,061.92
CHARTER COMMUNICATIONS INC-A US CHTR 940.2 $476,616.16
CHEVRON CORP US CVX 125.27 $21,878.81
CINCINNATI FINANCIAL CORP US CINF 34.98 $4,472.38
CISCO SYSTEMS INC US CSCO 426.53 $19,215.09
CITIGROUP INC US C 260.69 $13,923.71
CITIGROUP INC 1.46200 06/09/2027 US 411,705.2 $370,852.67
CLARK CNTY NV 1.51000 11/01/2028 US 472,567.37 $415,736.49
COCA COLA CO/THE US KO 7,479.29 $474,037.34
COLGATE-PALMOLIVE CO US CL 119.25 $9,397.93
COMCAST CORP-CL A US CMCSA 459.94 $20,366.25
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 29,482.92 $28,785.78
COMMUNITY HEALTHCARE TRUST I US CHCT 505.78 $19,057.87
CONAGRA BRAND INC. US CAG 111.67 $3,672.71
CONOCOPHILLIPS US COP 116.05 $13,039.83
CONTROLADORA VUELA CIA DE AV MX VLRS 1,115.83 $17,384.68
COPART INC US CPRT 2,035.76 $233,155.41
COUSINS PROPERTIES INC US CUZ 1,197.79 $41,383.56
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 317,769.52 $298,117.71
CAALT 2021-2A A 0.96000 02/15/2030 US 140,131.57 $134,888.93
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 328,517.03 $298,763.67
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 32,934.71 $30,022.82
CUMMINS INC US CMI 28.09 $5,873.27
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 244,553.68 $222,925.25
KIMBERLY CLARK DE MEXICO S.A.B. MX 21,757.6 $33,663.73
DEVON ENERGY CORPORATION US DVN 85.4 $6,396.28
DIAMONDBACK ENERGY INC US FANG 27.41 $4,166.78
DIGITAL REALTY TRUST INC US DLR 369.15 $51,529.75
DOLLAR GENERAL CORP US DG 1,285.93 $283,342.84
DOLLAR TREE STORES INC US DLTR 1,818.46 $291,553.34
DOW INC US DOW 91.8 $6,240.69
DUKE RLTY INVTS INC US DRE 835.69 $44,149.65
EOG RESOURCES INC US EOG 63.53 $8,700.91
EASTMAN CHEM CO US EMN 32.02 $3,527.44
EBAY INC US EBAY 81.79 $3,980.63
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 41,349.97 $39,183.63
ELECTRONIC ARTS US EA 2,124.56 $294,569.65
EMERSON ELEC CO US EMR 93.28 $8,270.27
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 543,371.97 $568,224.09
EQUINIX INC US EQIX 592.47 $407,078.10
EQUITY LIFESTYLE PROPERTIES US ELS 738.97 $55,939.69
ESSEX PROPERTY TRUST INC US ESS 125.46 $35,613.16
EXPEDIA GROUP INC 3.25000 02/15/2030 US 272,500.78 $240,956.59
EXTRA SPACE STORAGE INC US EXR 183.43 $32,686.97
FMC CORP US FMC 5,244.88 $642,917.82
FREMF 2015-K42 B FLT 3.84863 01/25/2048 US 31,529.6 $31,125.55
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 89,584.46 $91,241.58
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 374,805.07 $368,390.39
FREMF 2014-K41 B FLT 3.83302 11/25/2047 US 122,615.12 $121,367.25
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 17,155,486.19 $8,090.70
META PLATFORMS INC US FB 4,095.37 $793,027.39
FHLM POOL G03332 6.00000 10/01/2037 US 3,835.3 $4,247.45
FHLM POOL G05900 6.00000 03/01/2040 US 7,589.45 $8,453.01
FHLM POOL G05906 6.00000 04/01/2040 US 11,134.85 $12,303.73
FHLM POOL G06789 6.00000 05/01/2040 US 11,383.94 $12,627.54
FHLM POOL G06995 6.00000 05/01/2040 US 23,657.38 $26,231.28
FHLM POOL G13331 5.50000 10/01/2023 US 718.88 $730.78
FHLM POOL G12988 6.00000 01/01/2023 US 35.13 $35.23
FHLM POOL G13078 6.00000 03/01/2023 US 67.1 $67.35
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 99,874.34 $102,900.93
FHLM POOL FG G08734 4.00000 11/01/2046 US 2,787.36 $2,828.04
FHLM POOL C91746 4.50000 12/01/2033 US 3,173.39 $3,294.69
FHLM POOL Q93451 4.50000 08/01/2040 US 34,298.61 $35,829.00
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 502,099.88 $483,077.74
FHLM POOL SD8230 4.50000 06/01/2052 US 436,615.82 $444,939.51
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 19,264.06 $19,569.59
FHLM POOL G60034 4.50000 02/01/2045 US 178,835.27 $186,609.19
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 115,225.55 $114,947.69
FNR 2018-31 KP 3.50000 07/25/2047 US 9,190.59 $9,245.40
FHMS K030 X1 FLT 0.14558 04/25/2023 US 11,235,123.7 $13,065.66
FHMS K032 X1 FLT 0.06799 05/25/2023 US 7,137,519.54 $6,118.71
FHR 5189 CP 2.50000 06/25/2049 US 274,192.92 $254,966.81
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 17,538.49 $18,303.08
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 13,426.37 $14,011.69
FEDERAL NATL MTG ASSN AI5316 4.50000 07/01/2041 US 5,011.98 $5,230.48
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,650.56 $6,940.49
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 99,840.28 $104,192.82
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 226,965.34 $248,137.15
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 49,028.16 $51,125.75
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 840.81 $941.03
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 25,318.37 $25,208.84
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 24,525.75 $24,863.26
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 80,227.14 $81,331.18
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 131,244.95 $129,968.37
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 488,522.46 $485,825.17
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 8.22 $8.22
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 23,914.18 $26,485.38
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 572.2 $624.66
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 280.04 $300.58
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 2,396.63 $2,694.85
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,413.94 $1,546.26
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 385.36 $418.80
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 870.75 $955.84
FEDERAL NATL MTG ASSN 973297 4.50000 03/01/2023 US 87.12 $87.65
FEDERAL NATL MTG ASSN 976388 4.50000 04/01/2023 US 861.43 $864.79
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 557.36 $592.56
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 572.75 $608.92
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,113.49 $1,162.17
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 55,693.05 $57,797.68
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 49,977.61 $51,866.26
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 21,624.9 $22,260.85
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 32,673.27 $32,693.10
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 554,912.54 $521,968.92
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 504,647.42 $495,066.01
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 498,525.84 $499,172.56
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 499,538.01 $505,579.93
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 11,908.21 $13,129.21
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 7,834.58 $8,651.35
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 381.26 $393.06
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 32,569.09 $33,992.27
FEDEX CORPORATION US FDX 1,111.59 $249,641.37
FIFTH THIRD BANCORP US FITB 135.8 $5,354.77
FLX 2021-1A A2 3.25000 11/27/2051 US 397,649.2 $368,447.67
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 284,396.12 $274,059.99
FORD MOTOR CREDIT 3.08700 01/09/2023 US 33,406.54 $33,375.84
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 98,363 $98,349.73
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 280,440.29 $260,630.04
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 192,726.63 $178,740.81
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 175,700.54 $163,731.20
GSMBS 2021-INV1 A9 1.43446 12/25/2051 US 72,823.06 $68,913.98
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 211,179.91 $195,193.55
GNMA POOL 660997 5.50000 05/15/2037 US 3,409.32 $3,628.33
GENERAL DYNAMICS CORP US GD 41.06 $9,234.14
GENERAL MLS INC US GIS 101.98 $7,123.20
GENUINE PARTS CO US GPC 31.7 $4,333.68
GETTY REALTY CORP US GTY 654.72 $18,292.90
GILEAD SCIENCES INC US GILD 179.33 $11,629.56
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 196,384.93 $180,030.68
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 78,534.69 $76,486.66
GRAPHIC PACKAGING HOLDING CO US GPK 20,935.65 $466,027.52
GREENIDGE GEN HLD INC US 1,824.28 $36,339.68
GRUPO AEROPORTUARIO PAC-ADR MX PAC 122.37 $18,402.42
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 91.52 $19,885.70
AIRBUS SE FR AIR FP 240.08 $28,135.96
ADIDAS AG DE ADS GR 277.24 $55,078.42
HCA INC 4.12500 06/15/2029 US 371,862.76 $361,988.40
L'OREAL FR OR FP 30.86 $10,898.68
HAWAII ST 2.68200 10/01/2038 US 257,224.21 $203,691.54
HEALTHCARE REALTY TRUST INC US HR 838.15 $24,365.00
HEALTHCARE TRUST OF AMERICA US HTA 574.75 $17,271.23
HEINEKEN NV-SPN ADR NL HEINY 4,916.11 $247,968.60
HOME DEPOT INC US HD 90.32 $27,345.30
HONEYWELL INTERNATIONAL INC US HON 82.28 $15,930.48
IDEXX LABORATORIES INC US IDXX 707.46 $277,053.69
KERRY GROUP PLC-A IE KYGA ID 201.37 $20,839.43
ILLINOIS TOOL WKS INC US ITW 48.28 $10,044.80
IMPRL 2021-NQM3 1.59500 11/25/2056 US 225,900.63 $214,456.48
INDEPENDENCE REALTY TRUST IN US IRT 867.71 $20,399.95
INTEL CORP US INTC 448.87 $19,938.77
INTERCONTINENTALEXCHANGE INC US ICE 5,330.77 $545,817.66
INTERNATIONAL FLVRS & FRAGRANCES US IFF 47.95 $6,337.57
INVITATION HOMES INC US INVH 1,387.45 $52,334.43
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 56,626.54 $55,387.80
JP MORGAN CHASE & CO US JPM 256.85 $33,963.15
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 56,960.4 $55,126.97
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 614,176.57 $622,303.75
JOHNSON & JOHNSON US JNJ 5,438.93 $976,451.65
KREF 2021-FL2 A 1.95671 02/15/2039 US 70,065.78 $67,871.51
KEYCORP US KEY 158.57 $3,164.97
KROGER CO US KR 122.95 $6,512.51
L3HARRIS TECHNOLOGIES INC US LHX 1,148.11 $276,580.60
BEIERSDORF AG DE BEI GR 438.88 $45,551.50
LENNAR CORP US LEN 44.34 $3,558.33
LIFE STORAGE INC US LSI 322.19 $37,618.97
LOCKHEED MARTIN CORP US LMT 31.21 $13,734.19
LULULEMON - ADR CA LULU 1,037.74 $303,737.05
MAGALLANES INC 4.05400 03/15/2029 US 637,601.08 $611,229.79
ATOS SE FR ATO FP 1,451.11 $38,199.79
MARATHON PETROLEUM CORP US MPC 65.68 $6,685.97
MARRIOTT VACATIONS WORLD US VAC 136.96 $20,231.33
MASTERCARD INC-CLASS A US MA 2,338.14 $836,750.24
MCDONALDS CORP US MCD 53.87 $13,585.41
ACCOR SA FR AC FP 634.58 $20,880.55
MERCADOLIBRE INC AR MELI 41.96 $32,976.74
MERCK & CO INC US MRK 256.68 $23,622.43
MICROSOFT CORP US MSFT 3,487.04 $948,020.95
MICROCHIP TECHNOLOGY INC US MCHP 74.39 $5,404.72
MID-AMERICA APARTMENT COMM US MAA 259.79 $47,022.03
MONDELEZ INTERNATIONAL INC US MDLZ 9,607.07 $610,625.16
MOODY'S CORPORATION US MCO 1,529.93 $461,381.02
MOTOROLA SOLUTIONS INC US MSI 29.24 $6,424.88
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 198,841.87 $189,072.55
NAVIENT CORP 6.75000 06/25/2025 US 86,264.26 $87,069.53
NETAPP INC US NTAP 52.39 $3,769.22
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 70,263.27 $69,016.38
NRZT 2015-2A A1 3.75000 08/25/2055 US 79,771.3 $77,714.98
NRZT 2016-4A A1 3.75000 11/25/2056 US 140,828.7 $137,627.34
KEYENCE CORP JP 6861 JP 99 $39,358.42
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 128,102.45 $124,355.97
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 277,389.54 $252,141.71
NEWMONT GOLDCORP CORP US NEM 2,471.95 $167,721.73
NEXPOINT RESIDENTIAL US NXRT 247.44 $18,181.77
NORFOLK SOUTHN CORP US NSC 1,129.56 $270,710.87
NIKON CORP JP 7731 JP 3,809.94 $47,274.84
NORTHROP GRUMMAN CORP US NOC 618.9 $289,625.97
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 85,571.52 $8.56
NOVARTIS AG- REG CH NVS 7,587.51 $690,007.86
NUCOR CORP US NUE 46.62 $6,175.56
OBX 2022-INV1 A1 3.00000 12/25/2051 US 217,701.62 $198,498.41
OMNICOM GROUP US OMC 52.71 $3,932.88
SONY CORP FIRST SECTION JP 6758 JP 426.13 $39,966.85
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 260,483.38 $242,561.57
OXFIN 2020-1A A2 3.10100 02/15/2028 US 301,833.26 $300,092.40
OXFIN 2019-1A A2 4.45900 02/15/2027 US 83,462.47 $83,264.34
OXFIN 2022-1A 3.60200 02/15/2030 US 369,601.47 $351,808.93
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 38,508 $36,610.04
PPG INDUSTRIES INC US PPG 31.53 $3,988.51
PACKAGING CORP OF AMERICA US PKG 23.16 $3,642.65
PARKER HANNIFIN CORP US PH 17.41 $4,737.90
DEUTSCHE BOERSE AG DE DB1 GR 363.82 $61,145.06
PAYPAL HOLDINGS INC US PYPL 5,192.66 $442,466.85
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 448,006.26 $431,131.17
NESTLE SA-REGISTERED CH NESN SW 4,205.96 $514,461.22
PFIZER INC US PFE 369.69 $19,608.28
PIONEER NATURAL RESOURCES CO US PXD 27.58 $7,666.85
POPULAR INC 6.12500 09/14/2023 PR 86,264.26 $87,240.61
PROCTER & GAMBLE CO US PG 198.05 $29,288.22
PROLOGIS US PLD 1,280.05 $163,181.06
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 374,992.72 $329,391.33
PFMT 2021-2 A2A 2.00000 04/25/2051 US 238,479.24 $216,042.11
PUBLIC STORAGE INC US PSA 232.53 $76,884.25
QUALCOMM INC US QCOM 132.86 $19,028.05
QUALCOMM INC 4.25000 05/20/2032 US 486,379.26 $505,040.64
QUEST DIAGNOSTICS INC US DGX 29.73 $4,192.16
RCKT 2021-6 A1 2.50000 12/25/2051 US 418,254.45 $366,875.31
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,273.49 $63,674.98
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 100,665.01 $97,413.37
REGIONS FINANCIAL CORP. US RF 208.57 $4,607.28
REPUBLIC SERVICES INC US RSG 53.87 $7,209.35
RESTAURANT BRANDS INTERN CA QSR 410.45 $21,552.64
REXFORD INDUSTRIAL REALITY IN US REXR 790.53 $50,490.84
GETINGE AB-B SHS SE GETIB SS 1,489.9 $43,238.57
ROSS STORES INC US ROST 47.6 $4,046.93
HEINEKEN NV NL HEIA NA 319.35 $32,111.32
RYANAIR HOLDINGS - ADR IE RYAAY 3,236.4 $282,214.36
SBA TOWER TRUST 1.88400 01/15/2026 US 281,918.6 $263,061.94
S&P GLOBAL INC US SPGI 515.46 $180,142.15
SBA COMMUNICATIONS CORP US SBAC 2,463.93 $829,382.98
NAVIENT CORP 5.50000 01/25/2023 US 42,164.76 $42,342.02
SLMA 2006-10 A6 FLT 1.33400 03/25/2044 US 18,281.52 $17,357.99
SMB 2015 B A3 2.62471 05/17/2032 US 115,750.07 $116,562.61
SMB 2020-BA A1A 1.29000 07/15/2053 US 258,480.5 $240,997.32
SOFI 2017-D A2FX 2.65000 09/25/2040 US 34,874.51 $34,527.21
SALESFORCE INC US CRM 3,283.33 $526,120.21
SEA LTD - ADR SG SE 4,500.89 $372,043.57
SEAGEN INC US SGEN 4,298.92 $583,277.69
SEMT 2013-6 A2 3.00000 05/25/2043 US 75,070.8 $70,303.42
SEMT 2013-7 A2 3.00000 06/25/2043 US 36,231.51 $33,949.52
SEMT 2013-8 A1 3.00000 06/25/2043 US 42,034.67 $39,480.33
SEMT 2013-2 1.87400 02/25/2043 US 32,452.46 $29,390.87
SERVICENOW INC US NOW 1,034.89 $483,780.83
SHOPIFY INC CA SHOP 45 $16,879.18
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 821,658.76 $709,613.61
SKYWORKS SOLUTIONS INC US SWKS 27.92 $3,039.94
SMB 2019-B A2A 2.84000 06/15/2037 US 89,223.95 $86,548.36
JM SMUCKER CO/THE-NEW COM WI US SJM 26.11 $3,272.88
SOFI 2017-F A2FX 2.84000 01/25/2041 US 10,077.21 $9,951.66
SOFI 2016-C A2B 2.36000 12/27/2032 US 2,456.66 $2,453.83
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,707.29 $2,690.68
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 63,463.67 $63,030.89
SONY CORP SPONSORED ADR JP SONY 3,089.59 $290,637.59
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 50,797.69 $46,691.61
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 125,478.22 $112,970.14
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 437,125.47 $456,295.45
STANLEY BLACK & DECKER INC US SWK 25.94 $3,079.15
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 400,798.62 $275,507.15
STEEL DYNAMICS INC US STLD 47.44 $4,050.16
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 50,276.63 $46,889.42
SUN COMMUNITIES US SUI 384.59 $63,122.91
SCML 2019-SBC8 2.86000 04/25/2041 US 197,631.19 $185,570.75
SYNCHRONOSS TECH US 3,544.66 $78,620.65
SYNERGY ONE LENDING 5.50000 10/14/2026 US 95,349.04 $85,051.86
TJX COMPANIES INC US TJX 118.38 $7,525.69
TACORA RESOURCES INC 8.25000 05/15/2026 CA 33,406.54 $31,873.37
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,377.25 $321,852.24
TARGET CORP US TGT 44.99 $7,283.38
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,013,089.18 $976,151.97
TERRENO REALTY CORP US TRNO 441.25 $26,788.35
TEXAS INSTRUMENTS INC US TXN 77.68 $13,730.29
THERMO FISHER SCIENTIFIC INC US TMO 495.42 $281,184.42
3M CO US MMM 79.65 $11,890.24
TPMT 2016-5 A1 2.50000 10/25/2056 US 80,431.99 $80,080.79
TPMT 2017-1 A1 2.75000 10/25/2056 US 43,088.1 $42,918.48
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 73,045.21 $72,317.99
TRACTOR SUPPLY COMPANY US TSCO 16.92 $3,169.95
TRAVELLERS COS INC US TRV 40.24 $7,204.97
TAH 2017-SFR2 A 2.92800 01/17/2036 US 140,420.83 $138,806.75
TCF 2021-1A 1.86000 03/20/2046 US 345,058.75 $302,759.29
TYSON FOODS INC -CL A US TSN 64.54 $5,783.72
UDR INC US UDR 952.45 $45,526.99
U.S. BANCORP US USB 209.36 $11,110.69
UNILEVER PLC - ADR GB UL 13,325.58 $644,025.33
UNION PAC CORP US UNP 73.08 $16,061.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 84,719.93 $76,258.02
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 14,705.6 $13,775.73
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 32,591.75 $33,090.13
UNITED PARCEL SERVICE US UPS 1,419.86 $258,769.90
US TREASURY N/BB 3.87500 08/15/2040 US 1,397,371.09 $1,530,994.70
US TREASURY N/B 2.50000 02/15/2045 US 910,453.08 $788,253.20
US TREASURY N/B 2.00000 02/15/2050 US 1,005,558 $793,290.99
US TREASURY N/B 1.62500 05/15/2026 US 4,687,647.21 $4,481,464.00
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 729,559.98 $726,909.63
US TREASURY N/B 2.50000 05/15/2024 US 3,081,962.97 $3,081,601.79
US TREASURY N/B 2.37500 05/15/2027 US 3,307,247.38 $3,235,676.50
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 4,773,144.76 $4,692,597.95
US TREASURY N/B 1.62500 05/15/2031 US 668,130.78 $604,240.78
VF CORP US VFC 63.22 $3,189.84
VENTAS INC US VTR 463.25 $26,284.59
VERTEX PHARMACEUTICALS INC US VRTX 1,983.16 $532,776.81
PARAMOUNT GLOBAL CLASS B US PARA 103.93 $3,568.06
VISA INC - CLASS A SHARES US V 3,768.91 $799,649.55
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 115,392.32 $113,268.23
VISTRA OPERATIONS 4.87500 05/13/2024 US 403,374.18 $404,906.37
WAL MART STORES US WMT 218.87 $28,153.47
WALGREENS BOOTS ALLIANCE INC US WBA 119.19 $5,223.96
WARRIOR MET COAL INC 7.87500 12/01/2028 US 7,882.4 $7,995.12
WASTE MANAGEMENT INC US WM 61.26 $9,710.26
WELLTOWER INC. US WELL 535.35 $47,694.03
WIN 2015-1 A1 3.50000 01/20/2045 US 23,581.48 $22,545.50
ZOETIS INC US ZTS 728.87 $124,586.48
BNY MELLON CASH RESERVE EOD FUND US 49.86 $49.86
ADMIRAL GROUP PLC GB ADM LN 1,833.06 $51,320.88
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,955.08 $14,088.51
UBISOFT ENTERTAINMENT FR UBI FP 727.42 $38,242.47
DANONE FR BN FP 366.89 $21,587.12
AIR LIQUIDE FR AI FP 422.68 $74,040.37
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 83,188.17 $65,769.20
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 844,515.82 $42,905.00
BRENNTAG AG DE BNR GR 662.47 $51,259.29
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 224,266.29 $10,782.74
KEYWORDS STUDIOS PLC IE KWS LN 372.95 $11,019.77
S4 CAPITAL PLC GB SFOR LN 7,716.69 $27,599.38
HELIOS TOWERS PLC GB HTWS LN 11,527.73 $16,516.26
AVANZA BANK HOLDING AB SE AZA SS 1,418.64 $34,178.37
AMERICAN TANKER INC 7.75000 07/02/2025 US 92,089.87 $87,485.37
SOFTWAREONE HOLDING AG CH SWON SW 2,323.07 $31,026.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,358.54 $24,019.07
SEASPAN CORP 6.50000 02/05/2024 MH 100,216.38 $99,964.35
PETROTAL CORP 12.00000 02/16/2024 CA 75,170.86 $77,425.98
FINECOBANK SPA IT FBK IM 4,468.16 $63,316.52
ALLFUNDS GROUP PLC GB ALLFG NA 2,407.27 $21,957.92
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 67,374.54 $67,332.27
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 100,216.38 $100,383.07
KENT GLOBAL PLC 10.00000 06/28/2026 GB 40,535.18 $40,129.82
ROTORK PLC GB ROR LN 9,284.13 $32,674.64
AUTO TRADER GROUP PLC GB AUTO LN 7,832.6 $58,268.03
CELLNEX TELECOM SA ES CLNX SM 363.9 $16,422.48
ASSA ABLOY AB-B SE ASSAB SS 1,998.9 $49,275.02
CLEANAWAY WASTE MANAGEMENT AU CWY AU 19,706.86 $42,233.86
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,875.04 $37,227.35
ADYEN NV NL ADYEN NA 33.96 $52,599.44
BANK OF N.T. BUTTERFIELD&SON BM NTB 674.16 $21,289.91
BUNGE LIMITED US BG 33.65 $3,981.55
EATON CORP PLC US ETN 65.03 $9,013.45
JOHNSON CONTROLS INTERNATIONAL US JCI 117.11 $6,383.39
MEDTRONIC INC IE MDT 3,302.35 $330,730.33
ROYALTY PHARMA PLC- CL A US RPRX 90.49 $3,722.59
STONECO LTD-A BR STNE 2,308.9 $23,181.40
TRANE TECHNOLOGIES IE TT 30.87 $4,261.66
ALCON INC CH ALC 4,428.5 $330,941.83
CHUBB LTD CH CB 57.64 $12,178.32
GARMIN LTD CH GRMN 42.7 $4,509.85
TE CONNECTIVITY LIMITED CH TEL 42.86 $5,545.89
LYONDELLBASELL INDU-CL A US LYB 44.18 $5,047.30
PLAYA HOTELS AND RESORTS US PLYA 1,892.58 $16,351.85
US DOLLAR US 4,693,350.04 $4,693,350.04
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 65,246.64 $65,187.02

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

$26.43

Daily $ Change

$0.19

Daily % Change

0.72%

as of 06/23/2022

CUSIP

563821172

Inception Date

01/06/2005

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 05/31/2022

YTD

-9.34%

1 Year

-6.83%

3 Year

6.65%

5 Year

5.68%

10 Year

6.24%

Inception
(01/01/2000)

6.27%

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and 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. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
Net 0.89%*

*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 05/31/2022

TREASURY NOTES 23.97%
GOVERNMENT AGENCY 6.30%
TREASURY BONDS 2.07%
AMAZON.COM INC 1.91%
JOHNSON & JOHNSON 1.28%
TENCENT HOLDINGS 3.97500 04/11/2029 1.27%
MICROSOFT CORP 1.24%
MASTERCARD INC-CLASS A 1.09%
SBA COMMUNICATIONS CORP 1.08%
VISA INC - CLASS A SHARES 1.04%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Bonds
59.51%
Stocks
34.72%
Cash
5.77%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
9.36%
Small Capitalization
0.58%
Mid Capitalization
2.53%
Large Capitalization
22.26%
Long Term Fixed Income
16.17%
Intermediate Term Fixed Income
30.40%
Short Term Fixed Income
12.93%
Cash
5.77%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 131.54 $15,451.04
ACTIVISION INC US ATVI 3,509.98 $273,356.96
ADIDAS AG-SPONSORED ADR DE ADDYY 2,364.39 $234,405.44
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 275,637.9 $241,722.70
ADYEN NV UNSPON ADR NL ADYEY 17,436.36 $269,914.86
AGREE REALTY CORP US ADC 240.9 $16,759.66
AIR LIQUIDE-ADR FR AIQUY 12,552.59 $438,210.81
AIR LEASE CORP 3.62500 04/01/2027 US 264,230.79 $251,282.33
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 27,539.67 $28,892.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 560,687.14 $488,158.54
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 150,855.65 $125,488.56
ALLSTATE CORPORATION US ALL 50.56 $6,910.70
ALPHABET INC-CL A US GOOGL 211.2 $480,531.81
AMAZON.COM INC US AMZN 608.91 $1,463,943.88
AMAZON.COM INC 3.30000 04/13/2027 US 516,322.12 $515,846.46
DIAGEO PLC GB DGE LN 5,385.94 $250,237.43
AMERICAN HOMES 4 RENT- A US AMH 857.86 $31,706.62
AMERICAN TOWER REIT INC US AMT 128.25 $32,847.96
ANALOG DEVICES INC US ADI 76.04 $12,804.42
APPLE HOSPITALITY REIT INC US APLE 2,923.84 $48,857.38
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 29,128.06 $29,465.98
ARCHER-DANIELS-MIDLAND CO US ADM 86.22 $7,830.92
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 253,720.92 $241,263.59
AUTOMATIC DATA PROCESSING US ADP 52.39 $11,679.07
AVALONBAY COMMUNITIES INC US AVB 203.79 $42,381.02
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 670,516.15 $581,025.86
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 218,114.11 $220,812.05
BANK OF AMERICA CORP 2.68700 04/22/2032 US 429,996.83 $376,208.99
BARRICK GOLD CORP CA GOLD 8,199.87 $168,015.42
BAXTER INTERNATIONAL INC US BAX 66.35 $5,045.76
BEST BUY INC US BBY 47.61 $3,907.04
BIOMARIN PHARMACEUTICAL INC US BMRN 6,424.03 $482,637.52
BLACKROCK INC US BLK 371.39 $248,490.47
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 284,152 $247,222.36
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 277,511.6 $252,464.40
DECHRA PHARMACEUTICALS PLC GB DPH LN 944.48 $43,292.60
BRANDYWINE REALTY TRUST US BDN 1,454.12 $16,213.43
BRISTOL MYERS SQUIBB CO US BMY 231.88 $17,495.33
BROADRIDGE FINANCIAL SOLUTIONS US BR 25.78 $3,769.52
JONAH ENERGY PARENT LLC US 1,126.15 $60,429.00
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 214,218.99 $196,531.02
SORT 2020-1 A2 1.99000 07/15/2060 US 177,876.5 $156,192.23
C.H. ROBINSON WORLDWIDE INC US CHRW 33.34 $3,617.39
CIM 2019-INV1 A1 4.00000 02/25/2049 US 8,401.6 $8,391.82
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 586,651.42 $585,059.45
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 325,917.46 $319,897.04
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 56,245.55 $52,771.40
COTERRA ENERGY INC US CTRA 128.85 $4,423.43
CAMDEN PROPERTY TRUST US CPT 196.07 $28,134.66
CAMECO CORP CA CCJ 636.53 $15,575.93
CAMPBELL SOUP CO US CPB 74.56 $3,572.02
CANADIAN NATIONAL RAILWAY CO CA CNI 3,502.59 $398,524.29
CARETRUST REIT INC US CTRE 971 $17,992.56
CATERPILLAR INC US CAT 68.29 $14,740.67
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 654,019.01 $737,017.40
CENTURYLINK INC 7.50000 04/01/2024 US 61,924.32 $64,061.92
CHARTER COMMUNICATIONS INC-A US CHTR 940.2 $476,616.16
CHEVRON CORP US CVX 125.27 $21,878.81
CINCINNATI FINANCIAL CORP US CINF 34.98 $4,472.38
CISCO SYSTEMS INC US CSCO 426.53 $19,215.09
CITIGROUP INC US C 260.69 $13,923.71
CITIGROUP INC 1.46200 06/09/2027 US 411,705.2 $370,852.67
CLARK CNTY NV 1.51000 11/01/2028 US 472,567.37 $415,736.49
COCA COLA CO/THE US KO 7,479.29 $474,037.34
COLGATE-PALMOLIVE CO US CL 119.25 $9,397.93
COMCAST CORP-CL A US CMCSA 459.94 $20,366.25
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 29,482.92 $28,785.78
COMMUNITY HEALTHCARE TRUST I US CHCT 505.78 $19,057.87
CONAGRA BRAND INC. US CAG 111.67 $3,672.71
CONOCOPHILLIPS US COP 116.05 $13,039.83
CONTROLADORA VUELA CIA DE AV MX VLRS 1,115.83 $17,384.68
COPART INC US CPRT 2,035.76 $233,155.41
COUSINS PROPERTIES INC US CUZ 1,197.79 $41,383.56
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 317,769.52 $298,117.71
CAALT 2021-2A A 0.96000 02/15/2030 US 140,131.57 $134,888.93
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 328,517.03 $298,763.67
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 32,934.71 $30,022.82
CUMMINS INC US CMI 28.09 $5,873.27
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 244,553.68 $222,925.25
KIMBERLY CLARK DE MEXICO S.A.B. MX 21,757.6 $33,663.73
DEVON ENERGY CORPORATION US DVN 85.4 $6,396.28
DIAMONDBACK ENERGY INC US FANG 27.41 $4,166.78
DIGITAL REALTY TRUST INC US DLR 369.15 $51,529.75
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DOW INC US DOW 91.8 $6,240.69
DUKE RLTY INVTS INC US DRE 835.69 $44,149.65
EOG RESOURCES INC US EOG 63.53 $8,700.91
EASTMAN CHEM CO US EMN 32.02 $3,527.44
EBAY INC US EBAY 81.79 $3,980.63
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 41,349.97 $39,183.63
ELECTRONIC ARTS US EA 2,124.56 $294,569.65
EMERSON ELEC CO US EMR 93.28 $8,270.27
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 543,371.97 $568,224.09
EQUINIX INC US EQIX 592.47 $407,078.10
EQUITY LIFESTYLE PROPERTIES US ELS 738.97 $55,939.69
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EXPEDIA GROUP INC 3.25000 02/15/2030 US 272,500.78 $240,956.59
EXTRA SPACE STORAGE INC US EXR 183.43 $32,686.97
FMC CORP US FMC 5,244.88 $642,917.82
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FEDEX CORPORATION US FDX 1,111.59 $249,641.37
FIFTH THIRD BANCORP US FITB 135.8 $5,354.77
FLX 2021-1A A2 3.25000 11/27/2051 US 397,649.2 $368,447.67
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 284,396.12 $274,059.99
FORD MOTOR CREDIT 3.08700 01/09/2023 US 33,406.54 $33,375.84
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 98,363 $98,349.73
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 280,440.29 $260,630.04
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 192,726.63 $178,740.81
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 175,700.54 $163,731.20
GSMBS 2021-INV1 A9 1.43446 12/25/2051 US 72,823.06 $68,913.98
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 211,179.91 $195,193.55
GNMA POOL 660997 5.50000 05/15/2037 US 3,409.32 $3,628.33
GENERAL DYNAMICS CORP US GD 41.06 $9,234.14
GENERAL MLS INC US GIS 101.98 $7,123.20
GENUINE PARTS CO US GPC 31.7 $4,333.68
GETTY REALTY CORP US GTY 654.72 $18,292.90
GILEAD SCIENCES INC US GILD 179.33 $11,629.56
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 196,384.93 $180,030.68
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 78,534.69 $76,486.66
GRAPHIC PACKAGING HOLDING CO US GPK 20,935.65 $466,027.52
GREENIDGE GEN HLD INC US 1,824.28 $36,339.68
GRUPO AEROPORTUARIO PAC-ADR MX PAC 122.37 $18,402.42
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 91.52 $19,885.70
AIRBUS SE FR AIR FP 240.08 $28,135.96
ADIDAS AG DE ADS GR 277.24 $55,078.42
HCA INC 4.12500 06/15/2029 US 371,862.76 $361,988.40
L'OREAL FR OR FP 30.86 $10,898.68
HAWAII ST 2.68200 10/01/2038 US 257,224.21 $203,691.54
HEALTHCARE REALTY TRUST INC US HR 838.15 $24,365.00
HEALTHCARE TRUST OF AMERICA US HTA 574.75 $17,271.23
HEINEKEN NV-SPN ADR NL HEINY 4,916.11 $247,968.60
HOME DEPOT INC US HD 90.32 $27,345.30
HONEYWELL INTERNATIONAL INC US HON 82.28 $15,930.48
IDEXX LABORATORIES INC US IDXX 707.46 $277,053.69
KERRY GROUP PLC-A IE KYGA ID 201.37 $20,839.43
ILLINOIS TOOL WKS INC US ITW 48.28 $10,044.80
IMPRL 2021-NQM3 1.59500 11/25/2056 US 225,900.63 $214,456.48
INDEPENDENCE REALTY TRUST IN US IRT 867.71 $20,399.95
INTEL CORP US INTC 448.87 $19,938.77
INTERCONTINENTALEXCHANGE INC US ICE 5,330.77 $545,817.66
INTERNATIONAL FLVRS & FRAGRANCES US IFF 47.95 $6,337.57
INVITATION HOMES INC US INVH 1,387.45 $52,334.43
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 56,626.54 $55,387.80
JP MORGAN CHASE & CO US JPM 256.85 $33,963.15
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 56,960.4 $55,126.97
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 614,176.57 $622,303.75
JOHNSON & JOHNSON US JNJ 5,438.93 $976,451.65
KREF 2021-FL2 A 1.95671 02/15/2039 US 70,065.78 $67,871.51
KEYCORP US KEY 158.57 $3,164.97
KROGER CO US KR 122.95 $6,512.51
L3HARRIS TECHNOLOGIES INC US LHX 1,148.11 $276,580.60
BEIERSDORF AG DE BEI GR 438.88 $45,551.50
LENNAR CORP US LEN 44.34 $3,558.33
LIFE STORAGE INC US LSI 322.19 $37,618.97
LOCKHEED MARTIN CORP US LMT 31.21 $13,734.19
LULULEMON - ADR CA LULU 1,037.74 $303,737.05
MAGALLANES INC 4.05400 03/15/2029 US 637,601.08 $611,229.79
ATOS SE FR ATO FP 1,451.11 $38,199.79
MARATHON PETROLEUM CORP US MPC 65.68 $6,685.97
MARRIOTT VACATIONS WORLD US VAC 136.96 $20,231.33
MASTERCARD INC-CLASS A US MA 2,338.14 $836,750.24
MCDONALDS CORP US MCD 53.87 $13,585.41
ACCOR SA FR AC FP 634.58 $20,880.55
MERCADOLIBRE INC AR MELI 41.96 $32,976.74
MERCK & CO INC US MRK 256.68 $23,622.43
MICROSOFT CORP US MSFT 3,487.04 $948,020.95
MICROCHIP TECHNOLOGY INC US MCHP 74.39 $5,404.72
MID-AMERICA APARTMENT COMM US MAA 259.79 $47,022.03
MONDELEZ INTERNATIONAL INC US MDLZ 9,607.07 $610,625.16
MOODY'S CORPORATION US MCO 1,529.93 $461,381.02
MOTOROLA SOLUTIONS INC US MSI 29.24 $6,424.88
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 198,841.87 $189,072.55
NAVIENT CORP 6.75000 06/25/2025 US 86,264.26 $87,069.53
NETAPP INC US NTAP 52.39 $3,769.22
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 70,263.27 $69,016.38
NRZT 2015-2A A1 3.75000 08/25/2055 US 79,771.3 $77,714.98
NRZT 2016-4A A1 3.75000 11/25/2056 US 140,828.7 $137,627.34
KEYENCE CORP JP 6861 JP 99 $39,358.42
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 128,102.45 $124,355.97
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 277,389.54 $252,141.71
NEWMONT GOLDCORP CORP US NEM 2,471.95 $167,721.73
NEXPOINT RESIDENTIAL US NXRT 247.44 $18,181.77
NORFOLK SOUTHN CORP US NSC 1,129.56 $270,710.87
NIKON CORP JP 7731 JP 3,809.94 $47,274.84
NORTHROP GRUMMAN CORP US NOC 618.9 $289,625.97
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 85,571.52 $8.56
NOVARTIS AG- REG CH NVS 7,587.51 $690,007.86
NUCOR CORP US NUE 46.62 $6,175.56
OBX 2022-INV1 A1 3.00000 12/25/2051 US 217,701.62 $198,498.41
OMNICOM GROUP US OMC 52.71 $3,932.88
SONY CORP FIRST SECTION JP 6758 JP 426.13 $39,966.85
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 260,483.38 $242,561.57
OXFIN 2020-1A A2 3.10100 02/15/2028 US 301,833.26 $300,092.40
OXFIN 2019-1A A2 4.45900 02/15/2027 US 83,462.47 $83,264.34
OXFIN 2022-1A 3.60200 02/15/2030 US 369,601.47 $351,808.93
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 38,508 $36,610.04
PPG INDUSTRIES INC US PPG 31.53 $3,988.51
PACKAGING CORP OF AMERICA US PKG 23.16 $3,642.65
PARKER HANNIFIN CORP US PH 17.41 $4,737.90
DEUTSCHE BOERSE AG DE DB1 GR 363.82 $61,145.06
PAYPAL HOLDINGS INC US PYPL 5,192.66 $442,466.85
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 448,006.26 $431,131.17
NESTLE SA-REGISTERED CH NESN SW 4,205.96 $514,461.22
PFIZER INC US PFE 369.69 $19,608.28
PIONEER NATURAL RESOURCES CO US PXD 27.58 $7,666.85
POPULAR INC 6.12500 09/14/2023 PR 86,264.26 $87,240.61
PROCTER & GAMBLE CO US PG 198.05 $29,288.22
PROLOGIS US PLD 1,280.05 $163,181.06
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 374,992.72 $329,391.33
PFMT 2021-2 A2A 2.00000 04/25/2051 US 238,479.24 $216,042.11
PUBLIC STORAGE INC US PSA 232.53 $76,884.25
QUALCOMM INC US QCOM 132.86 $19,028.05
QUALCOMM INC 4.25000 05/20/2032 US 486,379.26 $505,040.64
QUEST DIAGNOSTICS INC US DGX 29.73 $4,192.16
RCKT 2021-6 A1 2.50000 12/25/2051 US 418,254.45 $366,875.31
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,273.49 $63,674.98
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 100,665.01 $97,413.37
REGIONS FINANCIAL CORP. US RF 208.57 $4,607.28
REPUBLIC SERVICES INC US RSG 53.87 $7,209.35
RESTAURANT BRANDS INTERN CA QSR 410.45 $21,552.64
REXFORD INDUSTRIAL REALITY IN US REXR 790.53 $50,490.84
GETINGE AB-B SHS SE GETIB SS 1,489.9 $43,238.57
ROSS STORES INC US ROST 47.6 $4,046.93
HEINEKEN NV NL HEIA NA 319.35 $32,111.32
RYANAIR HOLDINGS - ADR IE RYAAY 3,236.4 $282,214.36
SBA TOWER TRUST 1.88400 01/15/2026 US 281,918.6 $263,061.94
S&P GLOBAL INC US SPGI 515.46 $180,142.15
SBA COMMUNICATIONS CORP US SBAC 2,463.93 $829,382.98
NAVIENT CORP 5.50000 01/25/2023 US 42,164.76 $42,342.02
SLMA 2006-10 A6 FLT 1.33400 03/25/2044 US 18,281.52 $17,357.99
SMB 2015 B A3 2.62471 05/17/2032 US 115,750.07 $116,562.61
SMB 2020-BA A1A 1.29000 07/15/2053 US 258,480.5 $240,997.32
SOFI 2017-D A2FX 2.65000 09/25/2040 US 34,874.51 $34,527.21
SALESFORCE INC US CRM 3,283.33 $526,120.21
SEA LTD - ADR SG SE 4,500.89 $372,043.57
SEAGEN INC US SGEN 4,298.92 $583,277.69
SEMT 2013-6 A2 3.00000 05/25/2043 US 75,070.8 $70,303.42
SEMT 2013-7 A2 3.00000 06/25/2043 US 36,231.51 $33,949.52
SEMT 2013-8 A1 3.00000 06/25/2043 US 42,034.67 $39,480.33
SEMT 2013-2 1.87400 02/25/2043 US 32,452.46 $29,390.87
SERVICENOW INC US NOW 1,034.89 $483,780.83
SHOPIFY INC CA SHOP 45 $16,879.18
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 821,658.76 $709,613.61
SKYWORKS SOLUTIONS INC US SWKS 27.92 $3,039.94
SMB 2019-B A2A 2.84000 06/15/2037 US 89,223.95 $86,548.36
JM SMUCKER CO/THE-NEW COM WI US SJM 26.11 $3,272.88
SOFI 2017-F A2FX 2.84000 01/25/2041 US 10,077.21 $9,951.66
SOFI 2016-C A2B 2.36000 12/27/2032 US 2,456.66 $2,453.83
SOFI 2016-D A2B 2.34000 04/25/2033 US 2,707.29 $2,690.68
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 63,463.67 $63,030.89
SONY CORP SPONSORED ADR JP SONY 3,089.59 $290,637.59
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 50,797.69 $46,691.61
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 125,478.22 $112,970.14
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 437,125.47 $456,295.45
STANLEY BLACK & DECKER INC US SWK 25.94 $3,079.15
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 400,798.62 $275,507.15
STEEL DYNAMICS INC US STLD 47.44 $4,050.16
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 50,276.63 $46,889.42
SUN COMMUNITIES US SUI 384.59 $63,122.91
SCML 2019-SBC8 2.86000 04/25/2041 US 197,631.19 $185,570.75
SYNCHRONOSS TECH US 3,544.66 $78,620.65
SYNERGY ONE LENDING 5.50000 10/14/2026 US 95,349.04 $85,051.86
TJX COMPANIES INC US TJX 118.38 $7,525.69
TACORA RESOURCES INC 8.25000 05/15/2026 CA 33,406.54 $31,873.37
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,377.25 $321,852.24
TARGET CORP US TGT 44.99 $7,283.38
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,013,089.18 $976,151.97
TERRENO REALTY CORP US TRNO 441.25 $26,788.35
TEXAS INSTRUMENTS INC US TXN 77.68 $13,730.29
THERMO FISHER SCIENTIFIC INC US TMO 495.42 $281,184.42
3M CO US MMM 79.65 $11,890.24
TPMT 2016-5 A1 2.50000 10/25/2056 US 80,431.99 $80,080.79
TPMT 2017-1 A1 2.75000 10/25/2056 US 43,088.1 $42,918.48
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 73,045.21 $72,317.99
TRACTOR SUPPLY COMPANY US TSCO 16.92 $3,169.95
TRAVELLERS COS INC US TRV 40.24 $7,204.97
TAH 2017-SFR2 A 2.92800 01/17/2036 US 140,420.83 $138,806.75
TCF 2021-1A 1.86000 03/20/2046 US 345,058.75 $302,759.29
TYSON FOODS INC -CL A US TSN 64.54 $5,783.72
UDR INC US UDR 952.45 $45,526.99
U.S. BANCORP US USB 209.36 $11,110.69
UNILEVER PLC - ADR GB UL 13,325.58 $644,025.33
UNION PAC CORP US UNP 73.08 $16,061.10
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 84,719.93 $76,258.02
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 14,705.6 $13,775.73
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 32,591.75 $33,090.13
UNITED PARCEL SERVICE US UPS 1,419.86 $258,769.90
US TREASURY N/BB 3.87500 08/15/2040 US 1,397,371.09 $1,530,994.70
US TREASURY N/B 2.50000 02/15/2045 US 910,453.08 $788,253.20
US TREASURY N/B 2.00000 02/15/2050 US 1,005,558 $793,290.99
US TREASURY N/B 1.62500 05/15/2026 US 4,687,647.21 $4,481,464.00
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 729,559.98 $726,909.63
US TREASURY N/B 2.50000 05/15/2024 US 3,081,962.97 $3,081,601.79
US TREASURY N/B 2.37500 05/15/2027 US 3,307,247.38 $3,235,676.50
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 4,773,144.76 $4,692,597.95
US TREASURY N/B 1.62500 05/15/2031 US 668,130.78 $604,240.78
VF CORP US VFC 63.22 $3,189.84
VENTAS INC US VTR 463.25 $26,284.59
VERTEX PHARMACEUTICALS INC US VRTX 1,983.16 $532,776.81
PARAMOUNT GLOBAL CLASS B US PARA 103.93 $3,568.06
VISA INC - CLASS A SHARES US V 3,768.91 $799,649.55
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 115,392.32 $113,268.23
VISTRA OPERATIONS 4.87500 05/13/2024 US 403,374.18 $404,906.37
WAL MART STORES US WMT 218.87 $28,153.47
WALGREENS BOOTS ALLIANCE INC US WBA 119.19 $5,223.96
WARRIOR MET COAL INC 7.87500 12/01/2028 US 7,882.4 $7,995.12
WASTE MANAGEMENT INC US WM 61.26 $9,710.26
WELLTOWER INC. US WELL 535.35 $47,694.03
WIN 2015-1 A1 3.50000 01/20/2045 US 23,581.48 $22,545.50
ZOETIS INC US ZTS 728.87 $124,586.48
BNY MELLON CASH RESERVE EOD FUND US 49.86 $49.86
ADMIRAL GROUP PLC GB ADM LN 1,833.06 $51,320.88
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,955.08 $14,088.51
UBISOFT ENTERTAINMENT FR UBI FP 727.42 $38,242.47
DANONE FR BN FP 366.89 $21,587.12
AIR LIQUIDE FR AI FP 422.68 $74,040.37
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 83,188.17 $65,769.20
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 844,515.82 $42,905.00
BRENNTAG AG DE BNR GR 662.47 $51,259.29
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 224,266.29 $10,782.74
KEYWORDS STUDIOS PLC IE KWS LN 372.95 $11,019.77
S4 CAPITAL PLC GB SFOR LN 7,716.69 $27,599.38
HELIOS TOWERS PLC GB HTWS LN 11,527.73 $16,516.26
AVANZA BANK HOLDING AB SE AZA SS 1,418.64 $34,178.37
AMERICAN TANKER INC 7.75000 07/02/2025 US 92,089.87 $87,485.37
SOFTWAREONE HOLDING AG CH SWON SW 2,323.07 $31,026.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,358.54 $24,019.07
SEASPAN CORP 6.50000 02/05/2024 MH 100,216.38 $99,964.35
PETROTAL CORP 12.00000 02/16/2024 CA 75,170.86 $77,425.98
FINECOBANK SPA IT FBK IM 4,468.16 $63,316.52
ALLFUNDS GROUP PLC GB ALLFG NA 2,407.27 $21,957.92
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 67,374.54 $67,332.27
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 100,216.38 $100,383.07
KENT GLOBAL PLC 10.00000 06/28/2026 GB 40,535.18 $40,129.82
ROTORK PLC GB ROR LN 9,284.13 $32,674.64
AUTO TRADER GROUP PLC GB AUTO LN 7,832.6 $58,268.03
CELLNEX TELECOM SA ES CLNX SM 363.9 $16,422.48
ASSA ABLOY AB-B SE ASSAB SS 1,998.9 $49,275.02
CLEANAWAY WASTE MANAGEMENT AU CWY AU 19,706.86 $42,233.86
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,875.04 $37,227.35
ADYEN NV NL ADYEN NA 33.96 $52,599.44
BANK OF N.T. BUTTERFIELD&SON BM NTB 674.16 $21,289.91
BUNGE LIMITED US BG 33.65 $3,981.55
EATON CORP PLC US ETN 65.03 $9,013.45
JOHNSON CONTROLS INTERNATIONAL US JCI 117.11 $6,383.39
MEDTRONIC INC IE MDT 3,302.35 $330,730.33
ROYALTY PHARMA PLC- CL A US RPRX 90.49 $3,722.59
STONECO LTD-A BR STNE 2,308.9 $23,181.40
TRANE TECHNOLOGIES IE TT 30.87 $4,261.66
ALCON INC CH ALC 4,428.5 $330,941.83
CHUBB LTD CH CB 57.64 $12,178.32
GARMIN LTD CH GRMN 42.7 $4,509.85
TE CONNECTIVITY LIMITED CH TEL 42.86 $5,545.89
LYONDELLBASELL INDU-CL A US LYB 44.18 $5,047.30
PLAYA HOTELS AND RESORTS US PLYA 1,892.58 $16,351.85
US DOLLAR US 4,693,350.04 $4,693,350.04
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 65,246.64 $65,187.02

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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