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 balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 23% - 63%.

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

$10.99

Daily $ Change

$0.01

Daily % Change

0.09%

as of 05/24/2018

CUSIP

56382R860

Inception Date

05/14/2015

This fund is available only 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

Annualized Performance

As of 04/30/2018

YTD

-1.09%

1 Year

4.33%

3 Year

2.80%

5 Year

4.65%

10 Year

5.22%

Inception
(01/01/2000)

6.78%

US Stock Market Cycle (04/01/2000 - 04/30/2018)

6.80%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (01/06/2005) 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. Returns are net of the Class U1 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. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.49%
Net 0.49%*

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

Top Ten Investments

As of 04/30/2018

TREASURY NOTES 13.11%
GOVERNMENT AGENCY 6.75%
TREASURY BONDS 5.18%
TREASURY BILLS 1.96%
QORVO INC 1.61%
INCYTE CORP 1.45%
BOOKING HOLDINGS INC 1.42%
FACEBOOK INC -A 1.25%
ANHEUSER-BUSCH INBEV SA/NV 1.11%
REGENERON PHARMACEUTICALS INC 1.10%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Bonds 59.23%
Stocks 39.40%
Cash 1.37%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities 13.25%
Small Capitalization 0.73%
Mid Capitalization 4.65%
Large Capitalization 20.78%
Long Term Fixed Income 18.44%
Intermediate Term Fixed Income 26.84%
Short Term Fixed Income 13.94%
Cash 1.37%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 70,756.25 $70,402.47
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 961,330.33 $954,343.75
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,866,433.32 $1,831,066.82
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 238,701.4 $248,846.20
004239109 ACADIA REALTY TRUST US AKR 802.56 $18,940.53
0045614 ANTOFAGASTA PLC GB ANTO LN 37,074.8 $495,356.85
0053673 ASHTEAD GROUP PLC GB AHT LN 2,343.29 $65,080.09
008492100 AGREE REALTY CORP US ADC 356.1 $17,406.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 28,921.27 $30,041.97
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 279.43 $34,808.14
01609W102 ALIBABA GROUP - ADR CN BABA 7,383.22 $1,318,199.76
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,582,129.4 $1,489,557.45
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 66,922.5 $67,591.72
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 50,343.18 $50,318.01
02079K107 ALPHABET INC-CL C US GOOG 736.15 $748,903.78
02079K305 ALPHABET INC-CL A US GOOGL 730.23 $743,795.23
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 48,426.31 $47,336.71
023135106 AMAZON.COM INC US AMZN 262.71 $411,441.13
02319V103 AMBEV SA-ADR BR ABEV 255,332.1 $1,690,298.53
0237400 DIAGEO PLC GB DGE LN 51,917.76 $1,852,161.86
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,083.91 $42,391.64
0263494 BAE SYSTEMS PLC GB BA/ LN 2,895.35 $24,292.81
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,548.13 $71,672.29
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 1,023,477.57 $983,975.44
03027X100 AMERICAN TOWER REIT INC US AMT 2,831.93 $386,161.55
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 37,707.58 $38,103.59
03064D108 AMERICOLD REALTY TRUST US COLD 958.87 $19,762.39
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 1,038,476.29 $978,325.32
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,290.22 $52,383.10
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,780.51 $32,031.31
0405207 HALMA PLC GB HLMA LN 3,018.37 $50,645.56
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 1,029,396.71 $1,068,157.48
0490656 KERRY GROUP PLC-A IE KYGA LN 663.2 $67,434.46
053484101 AVALONBAY COMMUNITIES INC US AVB 853.78 $139,166.50
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 1,725.39 $53,487.03
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 3,969.31 $25,979.13
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 1,398,988.05 $1,333,312.70
058498106 BALL CORP US BLL 36,435.15 $1,460,685.33
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,506,799.5 $1,489,316.02
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 19,786.83 $1,652,398.49
09062X103 BIOGEN IDEC INC US BIIB 4,332.74 $1,185,436.72
09247X101 BLACKROCK INC US BLK 2,965.27 $1,546,386.60
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,903.93 $114,236.83
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,548.2 $13,918.27
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,385,800.88 $1,478,287.82
09857L108 BOOKING HOLDINGS INC US BKNG 1,259.96 $2,744,185.59
101121101 BOSTON PROPERTIES INC US BXP 659.61 $80,082.81
105368203 BRANDYWINE REALTY TRUST US BDN 1,982.65 $31,940.54
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,978.04 $676,545.05
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 842.65 $46,025.56
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 135,930.02 $127,774.21
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 42,675.68 $41,553.31
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 1,259,089.25 $1,270,508.56
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 996,977.59 $999,470.04
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 664,519.32 $675,320.89
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 1,468,937.45 $1,443,558.33
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 129,674.97 $121,489.24
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 382,561.54 $356,369.77
13321L108 CAMECO CORP CA CCJ 2,263.44 $23,833.97
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 4,828.2 $62,959.75
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 76,493.19 $76,015.10
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 102,603.24 $97,601.33
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 41,431.37 $42,001.05
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 77,683.86 $75,935.97
165240102 CHESAPEAKE LODGING TRUST US CHSP 918.72 $27,139.00
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,027,647.6 $1,488,369.01
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 30,838.15 $30,992.34
19625JAA1 CAH 2015-1A A 3.09713 07/17/2032 US 365,798.57 $365,797.99
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 3,997.9 $24,427.16
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,000.71 $21,375.14
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,058.82 $52,499.99
21871N101 CORECIVIC INC US CXW 2,797.06 $56,388.63
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 880,149 $986,521.54
222795106 COUSINS PROPERTIES INC US CUZ 10,115.04 $89,922.71
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 52,260.06 $51,737.46
22822V101 CROWN CASTLE INTL CORP US CCI 412.97 $41,656.14
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 271,312.81 $250,557.92
229663109 CUBESMART US CUBE 1,370.33 $40,342.50
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 30,838.15 $32,457.15
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 789.11 $11,370.05
23918K108 DAVITA INC. US DVA 19,322 $1,213,228.67
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 86,595.68 $82,066.72
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,266.9 $28,962.09
25271C102 DIAMOND OFFSHORE DRILLING US DO 28,338.82 $521,150.94
253868103 DIGITAL REALTY TRUST INC US DLR 989.88 $104,620.45
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 62,954.46 $62,583.99
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,026,975.04 $1,004,459.33
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 81,349.47 $81,756.22
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 23,698.93 $78,464.02
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 119,182.56 $120,672.34
269246401 ETRADE FINANCIAL CORP US ETFC 12,821.95 $778,036.02
2715777 QUEBECOR INC -CL B CA QBR/B CN 21,599.48 $402,735.03
277276101 EASTGROUP PROPERTIES US EGP 168.55 $15,132.45
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 19,698.18 $404,871.71
285512109 ELECTRONIC ARTS US EA 9,707.24 $1,145,260.08
2866857 LUNDIN MINING CORP CA LUN CN 69,988.61 $463,338.28
294429105 EQUIFAX INC US EFX 8,239.05 $923,186.09
29444U700 EQUINIX INC US EQIX 479.99 $201,975.77
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 509.65 $45,440.66
29476L107 EQUITY RESIDENTIAL US EQR 992.2 $61,228.71
297178105 ESSEX PROPERTY TRUST INC US ESS 178.47 $42,777.72
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,738,473.61 $1,702,876.62
30225T102 EXTRA SPACE STORAGE INC US EXR 683.11 $61,200.12
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 75,731.14 $75,475.89
30286XAN9 FREMF 2015-K43 B FLT 3.86222 02/25/2048 US 875,037.08 $849,707.56
30290HAE8 FREMF 2012-K708 FLT 3.88201 02/25/2045 US 573,046.45 $575,987.38
30291EAE4 FREMF 2013-K712 B FLT 3.47714 05/25/2045 US 281,477.13 $282,368.82
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 42,285,417.61 $160,824.13
30291XAE2 FREMF 2014-K715 B FLT 4.11961 02/25/2046 US 58,849.13 $59,828.86
30303M102 FACEBOOK INC -A US FB 14,106.42 $2,426,305.05
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 18,934.36 $21,075.71
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 10,459.29 $11,441.54
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 41,369.13 $45,210.17
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 140,138.49 $153,159.57
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 6,391.98 $6,978.52
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 54,752.43 $61,045.26
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 59,751.23 $66,625.43
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 101,754.1 $111,193.37
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 39,993.79 $43,708.36
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 124,307.21 $138,127.08
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,867.73 $6,078.96
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 11,826.52 $12,272.00
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,228.04 $8,537.71
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,359.13 $6,627.19
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,150.37 $11,606.66
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 874,930.65 $914,929.60
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 108,832.18 $118,909.68
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 225,299.94 $235,857.17
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 32,568.38 $34,386.90
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 33,189.06 $34,921.52
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 17,481.35 $18,336.62
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 27,569.71 $29,194.02
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 434,113.92 $442,905.30
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 472,512.74 $481,954.11
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 1,100,040.12 $1,148,014.65
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 302,803.59 $309,455.11
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 16,589.47 $16,821.61
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 196,098.24 $214,388.53
3137A2B34 FHMS K009 X1 FLT 1.45890 08/25/2020 US 4,318,828.38 $105,162.18
3137ADTK3 FHMS K014 X1 FLT 1.35057 04/25/2021 US 2,552,863.06 $74,806.29
3137AJMG6 FMHS K016 X1 FLT 1.67495 10/25/2021 US 1,643,463.11 $70,549.44
3137AL6W4 FHMS K706 X1 FLT 1.68589 10/25/2018 US 2,376,981.71 $9,857.34
3137AME78 FHMS K017 X1 FLT 1.49098 12/25/2021 US 980,449.07 $38,785.98
3137AUPF0 FHMS K021 x1 FLT 1.59275 06/25/2022 US 5,886,698.6 $291,273.85
3137B3NB0 FHMS K030 X1 FLT 0.31510 04/25/2023 US 17,977,259.57 $159,244.36
3137B4GZ3 FHMS K032 X1 FLT 0.22177 05/25/2023 US 11,575,353.65 $62,335.59
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 1,507,943.01 $1,528,553.72
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 601,291.77 $593,400.96
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 107,609.83 $106,873.63
3137F4YU0 FHLM POOL FHR4791 4.00000 03/15/2044 US 548,193.05 $559,137.67
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 96,431.68 $101,493.09
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 53,949.08 $56,741.58
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 56,309.03 $59,267.53
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 709,642.37 $746,856.38
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65100 01/01/2049 US 986,676.46 $1,062,976.71
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 237,684.86 $260,200.68
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 12,137.63 $13,279.93
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 247,681.78 $252,819.57
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 583,327.66 $579,883.61
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 278,499.75 $276,855.41
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 608,066.83 $619,849.18
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 298,985.69 $305,166.02
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 577,766.63 $589,050.71
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 605,905.97 $617,802.18
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 8,901.42 $9,220.16
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 10,851.69 $11,226.70
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 80,227.49 $82,378.41
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 96,220.58 $98,744.12
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 21,756.57 $23,801.16
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 125,654.12 $140,051.45
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 119,261.41 $130,054.08
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 48,887.02 $53,314.77
31412SY41 FEDERAL NATL MTG ASSN 933731 5.50000 04/01/2038 US 101,770.56 $110,936.98
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4,476.99 $4,567.53
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 54,459.47 $55,853.92
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 294,259.49 $307,971.21
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 252,647.16 $265,651.69
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 365,632 $353,271.31
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 69,539.29 $77,639.25
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 29,207.3 $32,570.70
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 77,894.39 $84,928.80
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 125,083.93 $136,544.98
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 7,887.3 $8,240.86
31418MSR4 FEDERAL NATL MTG ASSN AD0527 5.50000 06/01/2039 US 56,951.45 $62,052.30
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 207,613.04 $218,488.34
31428X106 FEDEX CORPORATION US FDX 4,857.82 $1,200,854.25
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,079.54 $64,694.46
336130AB5 FIRST QUALITY FINANCE CO 5.00000 07/01/2025 US 27,172.54 $26,017.70
345605109 FOREST CITY REALTY TRUST - A US FCE/A 1,471.92 $29,526.79
357081AE8 FREMF 2015-K720 B FLT 3.50460 07/25/2022 US 375,236.64 $369,512.03
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 40,254.38 $40,771.04
36143WAN1 GAHR 2015-NRF BFX FLT 3.49490 12/15/2034 US 745,226.7 $744,622.40
36143WAS0 GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 US 314,772.31 $312,856.61
36174X101 GGP INC US GGP 1,744.56 $34,873.69
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 20.65 $20.92
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 17,621.11 $17,368.35
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 22,179.51 $22,449.16
371559105 GENESEE & WYOMING INC -CL A US GWR 10,063.37 $716,512.23
374297109 GETTY REALTY CORP US GTY 1,103.78 $27,649.76
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B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 2,015,073.92 $109,220.12
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 3,741.57 $53,444.36
B63QM77 NEXON CO LTD JP 3659 JP 3,988.44 $58,037.37
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 400,189.12 $21,694.72
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 2,103.52 $41,263.30
B7VQL46 FNAC DARTY SA FR FNAC FP 486.65 $52,215.87
BB22L96 KION GROUP AG DE KGX GR 991.36 $82,634.35
BBG00HRBPKX0 REGN US 05/18/18 C360 US -10.44 -$511.49
BBG00JH41PQ6 QRVO US 05/18/18 P62.5 US -61 -$7,624.61
BBG00K3YL815 BKNG US 05/18/18 P1990 US -1.63 -$2,639.53
BBG00K996BS5 AMZN US 04/27/18 P1350 US -2.78 $0.00
BBG00KC00T34 EA US 05/18/18 P110 US -34.38 -$5,432.46
BBG00KCT50R3 SGEN US 05/18/18 C55 US -70.47 -$8,174.16
BBG00KD5VQ43 ZAYO 05/18/18 C40 US -96.95 -$969.47
BBG00KHC9JX3 SWKS US 05/11/18 P85 US -45.69 -$9,594.65
BBG00KJ2JW81 BABA US 05/25/18 P160 CN -24.05 -$2,596.86
BBG00KQTTLF9 TXN US 05/18/18 P92 US -41.69 -$1,459.04
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 3,342.25 $61,256.97
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 108,185.73 $103,317.37
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 17,927.08 $32,126.68
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 2,112.6 $34,892.32
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 49,172.82 $46,905.81
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 18,862.71 $927,346.06
BNBNSG0 EURONEXT NV NL ENX FP 1,302.5 $93,368.39
BNGN9Z1 FINECOBANK SPA IT FBK IM 8,705.46 $103,662.55
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 749.63 $15,891.54
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 34,782.42 $1,078,190.95
BVRZ8L1 AENA SA ES AENA SM 614.44 $126,653.86
BVSS790 ELIS SA FR ELIS FP 2,261.34 $54,082.78
BYXS699 QIAGEN N.V. NL QIA GR 1,373.09 $44,915.56
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 877.25 $35,646.64
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 21,691.79 $2,154,721.10
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 44,484.89 $56,149.24
BYZFYS3 SPIE SA FR SPIE FP 3,208.88 $72,607.14
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 8,006.61 $54,671.34
BYZR014 AMUNDI SA FR AMUN FP 1,001.85 $85,202.12
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,049.12 $64,177.90
BZ3C3Q4 BANKIA SA ES BKIA SM 8,596.44 $37,717.81
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 93,724.84 $31,374.72
G02602103 AMDOCS LTD GG DOX 1,247.11 $83,868.19
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 479.26 $26,828.89
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,969.34 $271,026.77
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 77,919.33 $82,594.49
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 1,641.35 $36,208.12
G57279104 LUXOFT HOLDING INC CH LXFT 274.42 $11,072.65
G5960L103 MEDTRONIC INC IE MDT 25,157.13 $2,015,840.76
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 431.87 $14,350.97
G97822103 PERRIGO CO PLC IE PRGO 843.19 $65,886.76
H8817H100 TRANSOCEAN LTD US RIG 61,347.56 $758,869.28
N47279109 INTERXION HOLDING NX NL INXN 1,452.52 $94,442.82
N72482123 QIAGEN N.V. ADR NL QGEN 1,081.39 $35,372.11
USD US DOLLAR US 2,685,876.58 $2,685,876.58

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 45 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

$10.99

Daily $ Change

$0.01

Daily % Change

0.09%

as of 05/24/2018

CUSIP

56382R860

Inception Date

05/14/2015

This fund is available only 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 balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 23% - 63%.

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

Annualized Performance

As of 04/30/2018

YTD

-1.09%

1 Year

4.33%

3 Year

2.80%

5 Year

4.65%

10 Year

5.22%

Inception
(01/01/2000)

6.78%

US Stock Market Cycle (04/01/2000 - 04/30/2018)

6.80%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (01/06/2005) 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. Returns are net of the Class U1 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. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.49%
Net 0.49%*

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

Top Ten Investments

As of 04/30/2018

TREASURY NOTES 13.11%
GOVERNMENT AGENCY 6.75%
TREASURY BONDS 5.18%
TREASURY BILLS 1.96%
QORVO INC 1.61%
INCYTE CORP 1.45%
BOOKING HOLDINGS INC 1.42%
FACEBOOK INC -A 1.25%
ANHEUSER-BUSCH INBEV SA/NV 1.11%
REGENERON PHARMACEUTICALS INC 1.10%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 04/30/2018

Bonds
59.23%
Stocks
39.40%
Cash
1.37%

Detailed Asset Class Allocation

As of 04/30/2018

International Equities
13.25%
Small Capitalization
0.73%
Mid Capitalization
4.65%
Large Capitalization
20.78%
Long Term Fixed Income
18.44%
Intermediate Term Fixed Income
26.84%
Short Term Fixed Income
13.94%
Cash
1.37%

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

April Fund Holdings

As of 04/30/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 70,756.25 $70,402.47
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 961,330.33 $954,343.75
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,866,433.32 $1,831,066.82
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 238,701.4 $248,846.20
004239109 ACADIA REALTY TRUST US AKR 802.56 $18,940.53
0045614 ANTOFAGASTA PLC GB ANTO LN 37,074.8 $495,356.85
0053673 ASHTEAD GROUP PLC GB AHT LN 2,343.29 $65,080.09
008492100 AGREE REALTY CORP US ADC 356.1 $17,406.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 28,921.27 $30,041.97
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 279.43 $34,808.14
01609W102 ALIBABA GROUP - ADR CN BABA 7,383.22 $1,318,199.76
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,582,129.4 $1,489,557.45
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 66,922.5 $67,591.72
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 50,343.18 $50,318.01
02079K107 ALPHABET INC-CL C US GOOG 736.15 $748,903.78
02079K305 ALPHABET INC-CL A US GOOGL 730.23 $743,795.23
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 48,426.31 $47,336.71
023135106 AMAZON.COM INC US AMZN 262.71 $411,441.13
02319V103 AMBEV SA-ADR BR ABEV 255,332.1 $1,690,298.53
0237400 DIAGEO PLC GB DGE LN 51,917.76 $1,852,161.86
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,083.91 $42,391.64
0263494 BAE SYSTEMS PLC GB BA/ LN 2,895.35 $24,292.81
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,548.13 $71,672.29
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 1,023,477.57 $983,975.44
03027X100 AMERICAN TOWER REIT INC US AMT 2,831.93 $386,161.55
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 37,707.58 $38,103.59
03064D108 AMERICOLD REALTY TRUST US COLD 958.87 $19,762.39
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 1,038,476.29 $978,325.32
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,290.22 $52,383.10
03784Y200 APPLE HOSPITALITY REIT INC US APLE 1,780.51 $32,031.31
0405207 HALMA PLC GB HLMA LN 3,018.37 $50,645.56
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 1,029,396.71 $1,068,157.48
0490656 KERRY GROUP PLC-A IE KYGA LN 663.2 $67,434.46
053484101 AVALONBAY COMMUNITIES INC US AVB 853.78 $139,166.50
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 1,725.39 $53,487.03
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 3,969.31 $25,979.13
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 1,398,988.05 $1,333,312.70
058498106 BALL CORP US BLL 36,435.15 $1,460,685.33
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 1,506,799.5 $1,489,316.02
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 19,786.83 $1,652,398.49
09062X103 BIOGEN IDEC INC US BIIB 4,332.74 $1,185,436.72
09247X101 BLACKROCK INC US BLK 2,965.27 $1,546,386.60
0946580 WEIR GROUP PLC/THE GB WEIR LN 3,903.93 $114,236.83
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,548.2 $13,918.27
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,385,800.88 $1,478,287.82
09857L108 BOOKING HOLDINGS INC US BKNG 1,259.96 $2,744,185.59
101121101 BOSTON PROPERTIES INC US BXP 659.61 $80,082.81
105368203 BRANDYWINE REALTY TRUST US BDN 1,982.65 $31,940.54
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,978.04 $676,545.05
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 842.65 $46,025.56
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 135,930.02 $127,774.21
1248EPBR3 CCO HLDGS LLC/CAP CORP 5.50000 05/01/2026 US 42,675.68 $41,553.31
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 1,259,089.25 $1,270,508.56
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 996,977.59 $999,470.04
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 664,519.32 $675,320.89
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 1,468,937.45 $1,443,558.33
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 129,674.97 $121,489.24
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 382,561.54 $356,369.77
13321L108 CAMECO CORP CA CCJ 2,263.44 $23,833.97
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 4,828.2 $62,959.75
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 76,493.19 $76,015.10
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 102,603.24 $97,601.33
15672WAJ3 CEQUEL COM HLDG I/CAP CP 7.50000 04/01/2028 US 41,431.37 $42,001.05
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 77,683.86 $75,935.97
165240102 CHESAPEAKE LODGING TRUST US CHSP 918.72 $27,139.00
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 1,027,647.6 $1,488,369.01
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 30,838.15 $30,992.34
19625JAA1 CAH 2015-1A A 3.09713 07/17/2032 US 365,798.57 $365,797.99
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 3,997.9 $24,427.16
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,000.71 $21,375.14
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,058.82 $52,499.99
21871N101 CORECIVIC INC US CXW 2,797.06 $56,388.63
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 880,149 $986,521.54
222795106 COUSINS PROPERTIES INC US CUZ 10,115.04 $89,922.71
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 52,260.06 $51,737.46
22822V101 CROWN CASTLE INTL CORP US CCI 412.97 $41,656.14
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 271,312.81 $250,557.92
229663109 CUBESMART US CUBE 1,370.33 $40,342.50
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 30,838.15 $32,457.15
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 789.11 $11,370.05
23918K108 DAVITA INC. US DVA 19,322 $1,213,228.67
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 86,595.68 $82,066.72
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,266.9 $28,962.09
25271C102 DIAMOND OFFSHORE DRILLING US DO 28,338.82 $521,150.94
253868103 DIGITAL REALTY TRUST INC US DLR 989.88 $104,620.45
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 62,954.46 $62,583.99
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 1,026,975.04 $1,004,459.33
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 81,349.47 $81,756.22
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 23,698.93 $78,464.02
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 119,182.56 $120,672.34
269246401 ETRADE FINANCIAL CORP US ETFC 12,821.95 $778,036.02
2715777 QUEBECOR INC -CL B CA QBR/B CN 21,599.48 $402,735.03
277276101 EASTGROUP PROPERTIES US EGP 168.55 $15,132.45
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 19,698.18 $404,871.71
285512109 ELECTRONIC ARTS US EA 9,707.24 $1,145,260.08
2866857 LUNDIN MINING CORP CA LUN CN 69,988.61 $463,338.28
294429105 EQUIFAX INC US EFX 8,239.05 $923,186.09
29444U700 EQUINIX INC US EQIX 479.99 $201,975.77
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 509.65 $45,440.66
29476L107 EQUITY RESIDENTIAL US EQR 992.2 $61,228.71
297178105 ESSEX PROPERTY TRUST INC US ESS 178.47 $42,777.72
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,738,473.61 $1,702,876.62
30225T102 EXTRA SPACE STORAGE INC US EXR 683.11 $61,200.12
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 75,731.14 $75,475.89
30286XAN9 FREMF 2015-K43 B FLT 3.86222 02/25/2048 US 875,037.08 $849,707.56
30290HAE8 FREMF 2012-K708 FLT 3.88201 02/25/2045 US 573,046.45 $575,987.38
30291EAE4 FREMF 2013-K712 B FLT 3.47714 05/25/2045 US 281,477.13 $282,368.82
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 42,285,417.61 $160,824.13
30291XAE2 FREMF 2014-K715 B FLT 4.11961 02/25/2046 US 58,849.13 $59,828.86
30303M102 FACEBOOK INC -A US FB 14,106.42 $2,426,305.05
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 18,934.36 $21,075.71
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 10,459.29 $11,441.54
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 41,369.13 $45,210.17
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 140,138.49 $153,159.57
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 6,391.98 $6,978.52
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 54,752.43 $61,045.26
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 59,751.23 $66,625.43
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 101,754.1 $111,193.37
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 39,993.79 $43,708.36
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 124,307.21 $138,127.08
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,867.73 $6,078.96
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 11,826.52 $12,272.00
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,228.04 $8,537.71
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,359.13 $6,627.19
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,150.37 $11,606.66
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 874,930.65 $914,929.60
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 108,832.18 $118,909.68
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 225,299.94 $235,857.17
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 32,568.38 $34,386.90
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 33,189.06 $34,921.52
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 17,481.35 $18,336.62
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 27,569.71 $29,194.02
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 434,113.92 $442,905.30
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 472,512.74 $481,954.11
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 1,100,040.12 $1,148,014.65
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 302,803.59 $309,455.11
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 16,589.47 $16,821.61
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 196,098.24 $214,388.53
3137A2B34 FHMS K009 X1 FLT 1.45890 08/25/2020 US 4,318,828.38 $105,162.18
3137ADTK3 FHMS K014 X1 FLT 1.35057 04/25/2021 US 2,552,863.06 $74,806.29
3137AJMG6 FMHS K016 X1 FLT 1.67495 10/25/2021 US 1,643,463.11 $70,549.44
3137AL6W4 FHMS K706 X1 FLT 1.68589 10/25/2018 US 2,376,981.71 $9,857.34
3137AME78 FHMS K017 X1 FLT 1.49098 12/25/2021 US 980,449.07 $38,785.98
3137AUPF0 FHMS K021 x1 FLT 1.59275 06/25/2022 US 5,886,698.6 $291,273.85
3137B3NB0 FHMS K030 X1 FLT 0.31510 04/25/2023 US 17,977,259.57 $159,244.36
3137B4GZ3 FHMS K032 X1 FLT 0.22177 05/25/2023 US 11,575,353.65 $62,335.59
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 1,507,943.01 $1,528,553.72
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31428X106 FEDEX CORPORATION US FDX 4,857.82 $1,200,854.25
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36143WAS0 GAHR 2015-NRF DFX FLT 3.49490 12/15/2034 US 314,772.31 $312,856.61
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36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 20.65 $20.92
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36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 22,179.51 $22,449.16
371559105 GENESEE & WYOMING INC -CL A US GWR 10,063.37 $716,512.23
374297109 GETTY REALTY CORP US GTY 1,103.78 $27,649.76
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37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 132,096.26 $129,784.58
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399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 542.24 $34,659.95
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410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 50,175.04 $48,168.04
4116099 BPER BANCA IT BPE IM 7,762.59 $44,809.40
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44107P104 HOST MARRIOTT CORP US HST 3,655.04 $71,492.59
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 130,179.39 $127,250.35
4457624 TRIGANO SA FR TRI FP 343.99 $64,824.32
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45031UCD1 ISTAR INC 5.25000 09/15/2022 US 97,592.51 $94,664.73
45337C102 INCYTE CORP US INCY 45,207.28 $2,800,138.77
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 2,517.06 $23,660.34
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 92,736.45 $89,490.67
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 1,026,403.29 $1,060,077.74
46115HAT4 INTESA SANPAOLO SPA 5.01700 06/26/2024 IT 76,675.02 $75,051.40
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 1,578,631.93 $1,474,546.88
46186YAA2 IHSFR 2015-SFR3 A FLT 3.19563 08/17/2032 US 817,533.41 $819,350.38
46187BAA1 IHSFR 2017-SFR2 A 2.74550 12/17/2036 US 197,607.42 $197,916.02
46187BAB9 IHSFR 2017-SFR2 B 3.04550 12/17/2036 US 148,843.72 $149,283.49
46187W107 INVITATION HOMES INC US INVH 3,090.44 $71,512.72
464286608 ISHARES MSCI EMU XX 2,343.29 $103,878.16
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 1,442,634.58 $1,493,503.20
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 184,367.81 $177,742.19
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 218,700.39 $214,941.59
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 324,266.18 $320,808.21
478160104 JOHNSON & JOHNSON US JNJ 11,171.32 $1,413,060.81
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 95,608.3 $76,486.64
4821100 SOLVAY SA BE SOLB BB 444.04 $61,752.99
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 1,246,306.06 $1,479,111.87
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500630CK2 KOREA DEVELOPMENT BANK 1.37500 09/12/2019 KR 6,725.61 $6,556.16
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 75,262.56 $73,004.69
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 75,766.98 $76,051.11
50218LAC0 LSTAR COMMERCIAL MORTGAGE TR FLT 2.76700 01/20/2041 US 3,459.97 $3,444.63
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 48,594.45 $49,444.85
5107401 BEIERSDORF AG DE BEI GR 355.97 $40,273.36
512816109 LAMAR ADVERTISING CO US LAMR 439.97 $28,030.68
5129074 FRESENIUS MEDICAL DE FME GR 292.64 $29,694.64
5228658 RANDSTAD HOLDING NV NL RAND NA 1,273.95 $81,995.35
5263574 FLSMIDTH & CO A/S DK FLS DC 362.73 $22,404.72
5289837 ERSTE GROUP BANK AG AT EBS AV 1,049.67 $51,330.66
53223X107 LIFE STORAGE INC US LSI 217.65 $19,248.90
5330047 DASSAULT SYSTEMES SA FR DSY FP 386.43 $50,078.01
54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 1,592.79 $33,034.39
5458314 AKZO NOBEL NL AKZA NA 804.41 $72,846.29
550021109 LULULEMON - ADR CA LULU 12,870.96 $1,284,521.35
554382101 THE MACERICH CO US MAC 419.46 $24,169.23
5545670 JUNGHEINRICH AG DE JUN3 GR 1,816.89 $76,621.99
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 105,091.87 $101,150.92
5633616 SOPRA STERIA GROUP FR SOP FP 422.45 $90,175.51
5669354 REPSOL SA ES REP SM 2,735.85 $52,207.60
5699373 WIENERBERGER AG AT WIE AV 2,852.2 $71,869.48
5713422 METSO OYJ FI METSO FH 2,318.24 $82,390.89
5727973 SIEMENS AG-REG DE SIE GR 1,065.68 $135,335.71
57636Q104 MASTERCARD INC-CLASS A US MA 10,552.61 $1,881,213.76
5852842 ACCOR SA FR AC FP 760.22 $42,969.29
58933Y105 MERCK & CO INC US MRK 14,159.43 $833,565.86
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 73,681.97 $69,905.77
594918104 MICROSOFT CORP US MSFT 21,449.16 $2,005,925.80
59522J103 MID-AMERICA APARTMENT COMM US MAA 881.29 $80,602.87
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 1,465,300.81 $1,494,162.86
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 127,522.62 $126,247.39
6250724 DAIKIN INDUSTRIES LTD JP 6367 JP 438.53 $51,226.82
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 36,884.66 $35,920.47
6356934 FANUC LTD JP 6954 JP 173.76 $37,221.84
637417106 NATIONAL RETAIL PROPERTIES US NNN 652.95 $24,838.13
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 44,592.56 $46,599.22
64110W102 NETEASE.COM INC- ADR CN NTES 122.14 $31,398.98
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 12,142.21 $88,620.63
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 154.49 $17,102.77
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 200.43 $16,644.98
6482903 KANAMOTO CO LTD JP 9678 JP 1,002.15 $34,243.76
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 280,061.7 $279,730.61
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 366,591.33 $367,997.31
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 654,190.16 $655,286.19
6490995 KEYENCE CORP JP 6861 JP 268.77 $163,887.90
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 49,320.8 $69,180.10
6642387 YAMAHA CORP JP 7951 JP 685.37 $33,070.89
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 162,598.13 $165,573.68
66987V109 NOVARTIS AG- REG CH NVS 24,671.89 $1,892,087.27
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 40,018.91 $41,135.74
67091GAA1 OCI NV 6.62500 04/15/2023 NL 79,600.73 $80,715.15
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 2,402.85 $16,425.23
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 484,936.38 $484,238.25
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 484,936.38 $477,881.54
6865504 SUZUKI MOTOR CORP JP 7269 JP 915.39 $49,200.31
69007J106 OUTFRONT MEDIA INC US OUT 1,209.33 $22,674.97
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 77,515.72 $79,066.03
697660207 PAMPA ENERGIA SA AR PAM 550.08 $31,376.29
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 79,264.45 $75,895.71
7110902 TECAN GROUP AG-REG CH TECN SW 174 $38,258.02
7123870 NESTLE SA-REGISTERED CH NESN SW 904.75 $70,091.08
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 28,583.86 $28,547.40
7145056 ENI SPA IT ENI IM 1,794.53 $35,080.14
7147892 TEMENOS GROUP AG-REG CH TEMN SW 288.47 $36,297.90
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 1,548,298.2 $1,419,789.45
71943U104 PHYSICIANS REALTY TRUST US DOC 3,623.13 $54,129.52
7262610 CREDIT AGRICOLE SA FR ACA FP 3,889.44 $64,048.63
729640102 PLYMOUTH INDUSTRIAL REIT INC US 396.15 $6,813.84
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 107,176.88 $109,052.48
7339451 ORPEA SA FR ORP FP 428.61 $54,924.11
7380062 AAREAL BANK AG DE ARL GR 1,454.07 $72,730.82
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 1,632.37 $85,407.10
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 1,533,299.48 $1,486,335.70
74340W103 PROLOGIS US PLD 2,469.91 $160,321.77
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 936,310.14 $995,999.91
74460D109 PUBLIC STORAGE INC US PSA 437.22 $88,221.32
74736K101 QORVO INC US QRVO 46,145.98 $3,110,239.13
758849103 REGENCY CENTERS CORP US REG 611.41 $35,981.41
75886F107 REGENERON PHARMACEUTICALS INC US REGN 6,995.84 $2,124,497.83
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 629.1 $19,219.14
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 44,592.56 $46,167.12
7759435 ILIAD SA FR ILD FP 216.44 $43,353.29
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 987.39 $71,506.85
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 182.92 $20,115.35
78408XAD3 SCGT 2013-SRP1 AJ FLT 4.09688 11/15/2026 US 1,048,563.96 $1,046,363.44
78410G104 SBA COMMUNICATIONS CORP US SBAC 2,512.78 $402,623.45
78442PGC4 SLM CORP 5.12500 04/05/2022 US 67,931.34 $68,610.66
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 1,378,469.66 $1,497,030.84
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 1,019,643.82 $987,935.06
806857108 SCHLUMBERGER LTD NL SLB 26,048.88 $1,785,911.31
808513105 CHARLES SCHWAB CORP/THE US SCHW 29,153.74 $1,623,280.39
81211K100 SEALED AIR CORP US SEE 20,572.67 $902,111.38
812578102 SEATTLE GENETICS INC US SGEN 30,061.8 $1,538,863.65
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 109,766.32 $104,552.42
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 221,671.88 $212,838.48
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 311,388.59 $299,657.28
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 243,837.67 $219,827.21
81762P102 SERVICENOW INC US NOW 9,612.34 $1,596,994.54
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 64,837.48 $63,054.45
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 54,008.79 $54,818.92
828806109 SIMON PROPERTY GROUP INC US SPG 1,134.92 $177,433.99
83088M102 SKYWORKS SOLUTIONS INC US SWKS 14,632.66 $1,269,529.23
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 133,869.59 $132,676.21
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 86,259.39 $84,027.89
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 148,652.08 $148,243.42
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 280,506.19 $278,600.43
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 84,846.94 $83,150.00
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 28,753.13 $29,561.82
85254J102 STAG INDUSTRIAL INC US STAG 1,949.39 $47,896.60
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.11688 11/15/2027 US 596,025.4 $596,588.41
862121100 STORE CAPITAL CORP US STOR 1,069.92 $26,994.04
866674104 SUN COMMUNITIES US SUI 684.12 $64,204.86
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 2,830.85 $44,161.29
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 30,838.15 $31,826.51
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 77,347.58 $78,507.79
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 220,962.17 $220,792.12
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 66,014.47 $58,257.77
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 1,038,476.29 $986,861.65
88146M101 TERRENO REALTY CORP US TRNO 517.32 $19,218.46
88161DAA9 TESLA 2018-A A 2.32000 12/20/2019 US 370,075.62 $368,539.47
882508104 TEXAS INSTRUMENTS INC US TXN 7,393.55 $749,927.35
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 921,264.2 $902,536.37
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 1,587.71 $30,261.73
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 774,199.01 $750,248.55
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 345,239.57 $333,077.30
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 103,343.13 $99,080.23
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 97,592.51 $100,003.04
902653104 UDR INC US UDR 2,236.66 $80,855.08
903002103 UMH PROPERTIES INC US UMH 1,801.96 $24,380.55
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 174,032.05 $170,116.33
904767704 UNILEVER PLC - ADR GB UL 26,491.72 $1,482,741.72
912796PY9 TREASURY BILL 0.00000 09/06/2018 US 3,819,968.62 $3,794,325.40
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,388,025.37 $1,849,869.13
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 2,215,993.98 $2,778,648.71
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 988,610.81 $961,208.00
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,552,022.34 $1,384,573.69
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 4,080,252.91 $4,005,182.63
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 2,048,701.99 $2,016,530.98
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 5,877,750.94 $5,839,178.20
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 96,716.5 $95,905.02
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 6,015,699.02 $5,884,105.60
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 208,494.05 $197,132.76
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,076,055.46 $1,883,047.18
912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 1,747,380.91 $1,740,009.15
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 553,215.43 $511,119.20
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 974,264.32 $951,631.42
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 3,945,345.36 $3,770,887.12
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BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 2,112.6 $34,892.32
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 49,172.82 $46,905.81
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BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 749.63 $15,891.54
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BVSS790 ELIS SA FR ELIS FP 2,261.34 $54,082.78
BYXS699 QIAGEN N.V. NL QIA GR 1,373.09 $44,915.56
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 877.25 $35,646.64
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 21,691.79 $2,154,721.10
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 44,484.89 $56,149.24
BYZFYS3 SPIE SA FR SPIE FP 3,208.88 $72,607.14
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 8,006.61 $54,671.34
BYZR014 AMUNDI SA FR AMUN FP 1,001.85 $85,202.12
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,049.12 $64,177.90
BZ3C3Q4 BANKIA SA ES BKIA SM 8,596.44 $37,717.81
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 93,724.84 $31,374.72
G02602103 AMDOCS LTD GG DOX 1,247.11 $83,868.19
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 479.26 $26,828.89
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,969.34 $271,026.77
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 77,919.33 $82,594.49
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 1,641.35 $36,208.12
G57279104 LUXOFT HOLDING INC CH LXFT 274.42 $11,072.65
G5960L103 MEDTRONIC INC IE MDT 25,157.13 $2,015,840.76
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 431.87 $14,350.97
G97822103 PERRIGO CO PLC IE PRGO 843.19 $65,886.76
H8817H100 TRANSOCEAN LTD US RIG 61,347.56 $758,869.28
N47279109 INTERXION HOLDING NX NL INXN 1,452.52 $94,442.82
N72482123 QIAGEN N.V. ADR NL QGEN 1,081.39 $35,372.11
USD US DOLLAR US 2,685,876.58 $2,685,876.58

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 45 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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