Collective Investment Trusts

Retirement Target 2025 CIT

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 investments 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 26% - 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 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who 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.

Learn more about our Glide Range SM

Daily Price

$19.25

Daily $ Change

$0.12

Daily % Change

0.62%

as of 04/23/2024

CUSIP

302027636

Inception Date

08/17/2012

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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 03/31/2024

YTD

1.92%

1 Year

8.23%

3 Year

0.97%

5 Year

5.78%

10 Year

4.60%

Inception
(08/17/2012)

6.19%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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 S expenses. The Retirement Target CIT Fund will gradually become more conservative over time.

Expense Ratio

Gross 0.91%
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 03/31/2024

TREASURY NOTES 16.42%
GOVERNMENT AGENCY 11.88%
TREASURY BONDS 5.46%
ISHARES BROAD USD HIGH YIELD 2.43400 2.89%
AMAZON.COM INC 2.36%
MASTERCARD INC-CLASS A 1.69%
ALPHABET INC-CL A 1.54%
TAIWAN SEMICONDUCTOR - SP ADR 1.45%
MICRON TECHNOLOGY INC 1.34%
TSY INFL IX N/B 2.37500 01/15/2027 1.23%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Bonds
60.42%
Stocks
37.52%
Cash
2.06%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
11.08%
Small Capitalization
0.23%
Mid Capitalization
2.20%
Large Capitalization
24.01%
Long Term Fixed Income
13.06%
Intermediate Term Fixed Income
40.67%
Short Term Fixed Income
6.69%
Cash
2.06%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 1,530.69 $54,856.39
ADMIRAL GROUP PLC ADR GB AMIGY 5,663.43 $202,750.62
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 185,164.35 $167,733.71
AGREE REALTY CORP US ADC 529.57 $30,248.78
AIR LIQUIDE FR AI FP 190.87 $39,710.70
AIRBUS SE FR AIR FP 254.65 $46,914.77
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 8,558.46 $8,712.51
ALCON INC CH ALC SW 139.98 $11,578.19
ALCON INC CH ALC 2,973.5 $247,662.61
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 98,581.47 $81,954.02
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 360,310.74 $313,016.66
ALPHABET INC-CL A US GOOGL 5,327.57 $804,090.26
AMAZON.COM INC US AMZN 6,836.06 $1,233,088.99
AMAZON.COM INC 3.30000 04/13/2027 US 65,459.31 $62,974.76
AMERICAN HOMES 4 RENT- A US AMH 854.13 $31,415.03
AMERICAN TOWER REIT INC US AMT 195.26 $38,581.78
AMERICOLD REALTY TRUST US COLD 677.66 $16,887.30
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 176,730.77 $166,192.33
ASTRAZENECA GB AZN 7,193.31 $487,346.95
ATLASSIAN CORP PLC-CLASS A AU TEAM 115.51 $22,537.85
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 5,593.05 $27,902.08
AUTO TRADER GROUP PLC GB AUTO LN 3,360.72 $29,678.24
AVALONBAY COMMUNITIES INC US AVB 222.9 $41,361.66
AVANZA BANK HOLDING AB SE AZA SS 708.46 $15,272.26
BABS 2021-RM2 A 1.75000 10/25/2061 US 10,275.03 $9,149.61
BAE SYSTEMS PLC GB BA/ LN 2,025.07 $34,518.12
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,956.42 $205,027.68
BANK OF AMERICA CORP 2.68700 04/22/2032 US 274,008.67 $231,803.09
BEIERSDORF AG DE BEI GR 283.7 $41,306.03
BIOMARIN PHARMACEUTICAL INC US BMRN 3,775.47 $329,749.37
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 132,049.33 $131,131.54
BORR IHC LTD 10.00000 11/15/2028 MUL 47,893.56 $50,008.27
BRENNTAG AG DE BNR GR 217.79 $18,355.31
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 52,014.1 $36,643.60
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 220,489.94 $216,485.17
CANADIAN NATIONAL RAILWAY CO CA CNI 2,895.37 $381,349.63
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 336,075.83 $338,900.12
CELLNEX TELECOM SA ES CLNX SM 1,060.03 $37,498.19
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,215.59 $21,418.64
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 215,852.23 $238,335.60
CIM 2019-INV1 A1 4.00000 02/25/2049 US 2,859.41 $2,719.42
CITIGROUP INC 1.46200 06/09/2027 US 273,050.81 $250,870.25
CLARK CNTY NV 1.51000 11/01/2028 US 230,666.4 $198,754.53
CLEANAWAY WASTE MANAGEMENT AU CWY AU 17,894.93 $31,707.53
COCA COLA CO/THE US KO 10,235.89 $626,231.53
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 119,856.07 $107,484.23
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 167,339.33 $159,245.09
COLT 2024-INV1 A1 5.90300 12/25/2068 US 149,060.37 $148,378.81
CONSTELLATION BRANDS INC-A US STZ 1,181.7 $321,138.52
COPART INC US CPRT 6,754.88 $391,242.60
CROWN CASTLE INTL CORP US CCI 170.21 $18,013.12
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 25,060.01 $21,628.89
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 14,193.36 $11,818.96
CSX CORP US CSX 8,363.36 $310,029.69
DEUTSCHE BOERSE AG DE DB1 GR 289.08 $59,200.67
DEUTSCHE BOERSE AG ADR DE DBOEY 14,914.73 $304,707.92
DIAGEO PLC GB DGE LN 434.13 $16,063.90
DIGITAL REALTY TRUST INC US DLR 131.39 $18,924.76
DIGITALBRIDGE GROUP INC US DBRG 899.92 $17,341.45
DOLLARAMA INC CA DOL CN 332.14 $25,302.48
ELECTRONIC ARTS US EA 3,890.89 $516,204.63
ENERGY TRANSFER LP 7.37500 02/01/2031 US 157,130.42 $164,703.18
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 233,630.45 $248,281.27
EQUINIX INC US EQIX 190.54 $157,260.28
EQUITY COMMONWEALTH US EQC 825.96 $15,594.14
EQUITY LIFESTYLE PROPERTIES US ELS 555.01 $35,742.76
EQUITY RESIDENTIAL US EQR 345.3 $21,791.64
EVERGY INC US EVRG 5,895.42 $314,697.72
EXPERIAN PLC IE EXPN LN 739.8 $32,235.19
EXTRA SPACE STORAGE INC US EXR 248.01 $36,457.30
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 247,057.36 $238,871.58
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 13,104.07 $13,691.34
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,358.1 $6,643.04
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,140.83 $3,281.66
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 16.5 $16.41
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 18,038.93 $17,700.44
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 8,130.13 $7,968.50
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 55,276.59 $54,177.69
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 107,467.56 $110,795.77
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 15,337.92 $14,013.47
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 42,465.38 $40,129.77
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 13,869.41 $12,481.22
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 380,408.47 $352,559.87
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 221,928.78 $202,286.79
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 13,042.9 $12,288.03
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 235,235.09 $222,673.08
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,814.15 $18,544.06
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 19,757.5 $19,474.27
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 253,672.85 $227,510.06
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 245,778.93 $227,786.17
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 237,646.87 $241,316.74
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 235,251.94 $205,395.12
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 387,219.55 $378,286.65
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 246,603.14 $215,938.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 44,089.29 $42,844.86
FHLM POOL C91780 4.50000 07/01/2034 US 5,105.38 $5,038.33
FHLM POOL G03332 6.00000 10/01/2037 US 1,984.02 $2,075.59
FHLM POOL G05900 6.00000 03/01/2040 US 4,349.81 $4,550.57
FHLM POOL G05906 6.00000 04/01/2040 US 4,443.81 $4,648.91
FHLM POOL G06995 6.00000 05/01/2040 US 12,663.42 $13,247.88
FHLM POOL G60034 4.50000 02/01/2045 US 97,966.41 $95,852.53
FHLM POOL K91364 4.50000 11/01/2033 US 651.13 $642.70
FHLM POOL K92059 4.50000 09/01/2034 US 3,569.48 $3,524.24
FHLM POOL SD8230 4.50000 06/01/2052 US 203,492.34 $194,311.76
FHR 5189 CP 2.50000 06/25/2049 US 164,116.4 $140,003.04
FINECOBANK SPA IT FBK IM 1,133.77 $16,980.24
FIRST INDUSTRIAL REALTY TR US FR 231.07 $12,140.29
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,090.6 $18,780.15
FLX 2021-1A A2 3.25000 11/27/2051 US 214,361.45 $194,276.44
FN DS2696 3.00000 12/01/2051 US 276,087.95 $240,695.26
FN FS4339 MTGE 3.00000 12/01/2050 US 316,898.72 $277,500.93
FN FS4925 MTGE 3.50000 04/01/2052 US 352,713.35 $319,703.35
FN MA4020 MTGE 3.00000 05/01/2050 US 369,030.65 $321,723.32
FN MA4733 4.50000 09/01/2052 US 272,690.16 $260,159.18
FN MA4807 MTGE 5.50000 11/01/2052 US 195,103.99 $194,493.01
FN MA4868 MTGE 5.00000 01/01/2053 US 358,341.74 $350,075.03
FN MA4934 MTGE 5.00000 02/01/2043 US 371,116.63 $368,097.43
FNR 2018-31 KP 3.50000 07/25/2047 US 2,261.61 $2,200.50
FR QG6308 MTG 6.00000 07/01/2053 US 322,415.89 $326,638.61
FR SD1129 4.00000 08/01/2051 US 22,482.43 $21,130.45
FR SD1360 MTGE 5.50000 07/01/2052 US 324,510.29 $323,765.64
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 36,298.99 $35,705.52
GLOBANT SA LU GLOB 134.08 $27,070.55
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 18,072.21 $16,364.95
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 29,596.78 $24,913.80
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 102,179.29 $84,056.60
GOODMAN GROUP AU GMG AU 774.76 $17,065.86
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 112,767.5 $97,341.80
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 81,237.49 $71,526.34
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 90,175.4 $77,716.11
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 128,497.16 $110,342.16
HALMA PLC GB HLMA LN 1,646.29 $49,158.84
HAWAII ST 2.68200 10/01/2038 US 134,022.49 $103,888.71
HDFC BANK LTD-ADR IN HDB 8,250.4 $461,774.65
HEINEKEN NV NL HEIA NA 545.19 $52,560.73
HEINEKEN NV-SPN ADR NL HEINY 10,186.86 $492,330.84
HELIOS TOWERS PLC GB HTWS LN 11,121.78 $13,249.04
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 316,600.94 $310,019.34
HUMANA INC US HUM 563.99 $195,546.31
HWIRE 2021-1 A2 2.31100 11/20/2051 US 18,668.05 $16,882.77
IMCD NV NL IMCD NA 290.28 $51,092.93
IMPRL 2021-NQM3 1.59500 11/25/2056 US 101,097.59 $83,920.36
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 49,110.7 $50,930.24
INTERCONTINENTALEXCHANGE INC US ICE 2,223.51 $305,577.06
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,295.17 $33,546.87
INTUITIVE SURGICAL INC US ISRG 533.75 $213,015.50
INVITATION HOMES INC US INVH 1,507.48 $53,681.41
ISHARES BROAD USD HIGH YIELD 2.43400 US 41,382.52 $1,514,186.47
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 31,285.68 $30,744.35
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 24,515,727.98 $161,749.09
JOHNSON & JOHNSON US JNJ 3,730.18 $590,076.54
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 17,487.7 $16,760.65
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 393,713.71 $380,788.95
KEYENCE CORP JP 6861 JP 78.21 $36,311.79
KEYWORDS STUDIOS PLC IE KWS LN 1,206.43 $19,825.47
L'OREAL FR OR FP 18.3 $8,664.16
L3HARRIS TECHNOLOGIES INC US LHX 2,881.47 $614,042.19
LEXINGTON REALTY TRUST US LXP 3,737.91 $33,715.93
LONZA GROUP AG -REG CH LONN SW 76.58 $45,765.42
LONZA GROUP AG ADR CH LZAGY 971.45 $58,199.56
MARRIOTT VACATIONS WORLD US VAC 147.46 $15,886.22
MASCO CORP US MAS 2,881.36 $227,281.78
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 81,368.6 $80,959.34
MASTERCARD INC-CLASS A US MA 1,833.4 $882,910.83
MEDTRONIC INC IE MDT 2,767.04 $241,147.26
MERCADOLIBRE INC BR MELI 26.18 $39,589.87
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 81,368.6 $80,781.53
META PLATFORMS INC US META 1,117.28 $542,526.94
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 138,999.61 $7,706.41
MICRON TECHNOLOGY INC US MU 5,938.34 $700,071.25
MICROSOFT CORP US MSFT 872.12 $366,919.53
MID-AMERICA APARTMENT COMM US MAA 95.09 $12,512.32
MONARCH CASINO & RESORT INC US MCRI 265.67 $19,922.41
MONDELEZ INTERNATIONAL INC US MDLZ 2,756.66 $192,966.41
MOODY'S CORPORATION US MCO 1,068.01 $419,760.34
NAVIENT CORP 6.75000 06/25/2025 US 50,799.6 $51,123.64
NESTLE S.A. - ADR CH NSRGY 4,348.11 $461,769.52
NESTLE SA-REGISTERED CH NESN SW 448.17 $47,617.99
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 52,762.14 $52,580.94
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 81,368.6 $80,520.04
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 152,675.67 $144,461.42
NORTHROP GRUMMAN CORP US NOC 633.39 $303,179.61
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 49,362.81 $0.49
NOVARTIS AG- REG CH NVS 2,416.15 $233,714.63
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 147,958.63 $156,433.06
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 25,271.15 $23,576.81
NRZT 2015-2A A1 3.75000 08/25/2055 US 30,891.62 $28,699.53
NRZT 2016-4A A1 3.75000 11/25/2056 US 61,706.31 $57,289.99
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 100,911.52 $91,512.59
OASIS 2023-1A 7.00000 02/15/2035 US 71,383.02 $71,248.68
OBX 2022-INV1 A1 3.00000 12/25/2051 US 133,237.52 $111,780.11
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 52,142.8 $51,883.44
OXFIN 2020-1A A2 3.10100 02/15/2028 US 46,452.65 $45,123.44
OXFIN 2022-1A 3.60200 02/15/2030 US 203,335.18 $194,260.49
OXFIN 2023-1A A2 6.71600 02/15/2031 US 258,884.39 $260,902.24
OXFINF 2024-A A2 6.67500 01/14/2032 US 24,209.65 $24,061.98
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 307,476.54 $322,487.38
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 116,400.87 $112,442.22
PEAR 2023-1A 7.42000 07/15/2035 US 127,874.42 $129,242.34
PELORUS FUND REIT 7.00000 09/30/2026 US 12,009.5 $11,776.22
PEPSICO INC 3.90000 07/18/2032 US 316,414.32 $299,849.70
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 182,767.82 $148,144.43
PFMT 2021-2 A2A 2.00000 04/25/2051 US 108,563.09 $90,938.34
PHILIP MORRIS INTERNATIONAL US PM 5,706.76 $522,853.10
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 25,941.2 $23,533.67
PROLOGIS US PLD 1,097.68 $142,940.36
PUBLIC STORAGE INC US PSA 191.89 $55,659.56
QUALCOMM INC 4.25000 05/20/2032 US 340,252.99 $328,365.40
RCKT 2021-6 A1 2.50000 12/25/2051 US 233,038.38 $186,910.01
REALTY INCOME CORP US O 492.92 $26,666.86
REXFORD INDUSTRIAL REALITY IN US REXR 838.16 $42,159.56
S&P GLOBAL INC US SPGI 672.86 $286,266.56
SBA COMMUNICATIONS CORP US SBAC 262.38 $56,857.70
SBA TOWER TRUST 1.88400 01/15/2026 US 195,614.15 $182,633.08
SBA TOWER TRUST 6.59900 01/15/2028 US 221,711.11 $227,237.04
SCML 2019-SBC8 2.86000 04/25/2041 US 102,669.08 $95,335.94
SEMT 2013-2 1.87400 02/25/2043 US 13,291.02 $11,224.03
SEMT 2013-6 A2 3.00000 05/25/2043 US 34,510.94 $30,470.14
SEMT 2013-7 A2 3.00000 06/25/2043 US 14,532.49 $12,700.77
SEMT 2013-8 A1 3.00000 06/25/2043 US 17,431.58 $15,460.76
SERVICENOW INC US NOW 279.63 $213,192.23
SIMON PROPERTY 2.25000 01/15/2032 US 137,090.76 $112,212.72
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 419,533.01 $353,845.96
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 153,478.99 $153,242.63
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 12,882.51 $11,251.39
SLMA 2008-3 A3 6.62250 10/25/2021 US 237,749.13 $235,972.06
SLMA 2008-4 A4 7.27250 07/25/2022 US 234,219.82 $236,622.45
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,899.45 $83,821.46
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 15,346.63 $15,008.57
SONY CORP FIRST SECTION JP 6758 JP 456.25 $39,123.73
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 115,905.62 $108,367.39
SORT 2020-1 A2 1.99000 07/15/2060 US 96,435.06 $82,927.40
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 120,512.18 $106,686.22
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 176,609.94 $125,391.98
SUN COMMUNITIES US SUI 422.64 $54,343.47
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,591.3 $760,696.49
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,828.25 $52,017.69
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 3,224.21 $219,197.97
TENCENT HOLDINGS 3.97500 04/11/2029 KY 653,087.95 $620,779.42
TENCENT HOLDINGS LTD CN 700 HK 1,095 $42,650.14
TERRENO REALTY CORP US TRNO 556.45 $36,948.00
THERMO FISHER SCIENTIFIC INC US TMO 374.33 $217,563.33
TPMT 2016-5 A1 2.50000 10/25/2056 US 1,955.47 $1,947.25
TPMT 2017-1 A1 2.75000 10/25/2056 US 502.9 $500.77
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 25,354.93 $25,726.31
TREASURY BOND 2.37500 02/15/2042 US 2,977,572.06 $2,218,291.18
TREASURY NOTE 2.25000 11/15/2027 US 1,513,691.69 $1,408,679.33
TSY INFL IX N/B 0.12500 01/15/2031 US 708,942.48 $631,773.93
TSY INFL IX N/B 2.37500 01/15/2027 US 637,237.58 $642,607.00
UDR INC US UDR 358.53 $13,412.74
UNION PAC CORP US UNP 966.31 $237,643.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 5,980.13 $5,729.72
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 39,032.85 $36,058.45
UNITEDHEALTH GROUP INC US UNH 409.1 $202,379.55
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 32,589.25 $27,755.27
US DOLLAR US 1,100,531.68 $1,100,531.68
US TEASURY NOTE 1.75000 11/15/2029 US 1,892,708.24 $1,667,505.54
US TREASURY N/B 0.87500 11/15/2030 US 1,221,046.86 $989,429.54
US TREASURY N/B 2.25000 11/15/2025 US 1,992,403.49 $1,914,263.92
US TREASURY N/B 3.62500 02/15/2053 US 725,624.65 $638,436.31
US TREASURY N/B 4.12500 11/15/2032 US 2,623,609.89 $2,608,442.15
USRE 2021-1 A1 1.91000 10/20/2061 US 21,174.41 $18,549.31
VENTAS INC US VTR 415.29 $18,081.85
VERTEX PHARMACEUTICALS INC US VRTX 685.79 $286,668.25
VISA INC - CLASS A SHARES US V 2,199.42 $613,815.43
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 241,844.38 $226,379.77
WELLTOWER INC. US WELL 547.95 $51,200.20
WIN 2015-1 A1 3.50000 01/20/2045 US 9,698.52 $8,773.73

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

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$19.25

Daily $ Change

$0.12

Daily % Change

0.62%

as of 04/23/2024

CUSIP

302027636

Inception Date

08/17/2012

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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 investments 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 26% - 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 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2025
  • Who 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.

Learn more about our Glide Range SM

Performance

As of 03/31/2024

YTD

1.92%

1 Year

8.23%

3 Year

0.97%

5 Year

5.78%

10 Year

4.60%

Inception
(08/17/2012)

6.19%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Performance through the inception date of the Retirement Target CIT Class S units is based on historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (08/03/2012) 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 S expenses. The Retirement Target CIT Fund will gradually become more conservative over time.

Expense Ratio

Gross 0.91%
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 03/31/2024

TREASURY NOTES 16.42%
GOVERNMENT AGENCY 11.88%
TREASURY BONDS 5.46%
ISHARES BROAD USD HIGH YIELD 2.43400 2.89%
AMAZON.COM INC 2.36%
MASTERCARD INC-CLASS A 1.69%
ALPHABET INC-CL A 1.54%
TAIWAN SEMICONDUCTOR - SP ADR 1.45%
MICRON TECHNOLOGY INC 1.34%
TSY INFL IX N/B 2.37500 01/15/2027 1.23%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Bonds
60.42%
Stocks
37.52%
Cash
2.06%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
11.08%
Small Capitalization
0.23%
Mid Capitalization
2.20%
Large Capitalization
24.01%
Long Term Fixed Income
13.06%
Intermediate Term Fixed Income
40.67%
Short Term Fixed Income
6.69%
Cash
2.06%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 1,530.69 $54,856.39
ADMIRAL GROUP PLC ADR GB AMIGY 5,663.43 $202,750.62
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 185,164.35 $167,733.71
AGREE REALTY CORP US ADC 529.57 $30,248.78
AIR LIQUIDE FR AI FP 190.87 $39,710.70
AIRBUS SE FR AIR FP 254.65 $46,914.77
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 8,558.46 $8,712.51
ALCON INC CH ALC SW 139.98 $11,578.19
ALCON INC CH ALC 2,973.5 $247,662.61
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 98,581.47 $81,954.02
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 360,310.74 $313,016.66
ALPHABET INC-CL A US GOOGL 5,327.57 $804,090.26
AMAZON.COM INC US AMZN 6,836.06 $1,233,088.99
AMAZON.COM INC 3.30000 04/13/2027 US 65,459.31 $62,974.76
AMERICAN HOMES 4 RENT- A US AMH 854.13 $31,415.03
AMERICAN TOWER REIT INC US AMT 195.26 $38,581.78
AMERICOLD REALTY TRUST US COLD 677.66 $16,887.30
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 176,730.77 $166,192.33
ASTRAZENECA GB AZN 7,193.31 $487,346.95
ATLASSIAN CORP PLC-CLASS A AU TEAM 115.51 $22,537.85
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 5,593.05 $27,902.08
AUTO TRADER GROUP PLC GB AUTO LN 3,360.72 $29,678.24
AVALONBAY COMMUNITIES INC US AVB 222.9 $41,361.66
AVANZA BANK HOLDING AB SE AZA SS 708.46 $15,272.26
BABS 2021-RM2 A 1.75000 10/25/2061 US 10,275.03 $9,149.61
BAE SYSTEMS PLC GB BA/ LN 2,025.07 $34,518.12
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,956.42 $205,027.68
BANK OF AMERICA CORP 2.68700 04/22/2032 US 274,008.67 $231,803.09
BEIERSDORF AG DE BEI GR 283.7 $41,306.03
BIOMARIN PHARMACEUTICAL INC US BMRN 3,775.47 $329,749.37
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 132,049.33 $131,131.54
BORR IHC LTD 10.00000 11/15/2028 MUL 47,893.56 $50,008.27
BRENNTAG AG DE BNR GR 217.79 $18,355.31
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 52,014.1 $36,643.60
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 220,489.94 $216,485.17
CANADIAN NATIONAL RAILWAY CO CA CNI 2,895.37 $381,349.63
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 336,075.83 $338,900.12
CELLNEX TELECOM SA ES CLNX SM 1,060.03 $37,498.19
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 1,215.59 $21,418.64
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 215,852.23 $238,335.60
CIM 2019-INV1 A1 4.00000 02/25/2049 US 2,859.41 $2,719.42
CITIGROUP INC 1.46200 06/09/2027 US 273,050.81 $250,870.25
CLARK CNTY NV 1.51000 11/01/2028 US 230,666.4 $198,754.53
CLEANAWAY WASTE MANAGEMENT AU CWY AU 17,894.93 $31,707.53
COCA COLA CO/THE US KO 10,235.89 $626,231.53
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 119,856.07 $107,484.23
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 167,339.33 $159,245.09
COLT 2024-INV1 A1 5.90300 12/25/2068 US 149,060.37 $148,378.81
CONSTELLATION BRANDS INC-A US STZ 1,181.7 $321,138.52
COPART INC US CPRT 6,754.88 $391,242.60
CROWN CASTLE INTL CORP US CCI 170.21 $18,013.12
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 25,060.01 $21,628.89
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 14,193.36 $11,818.96
CSX CORP US CSX 8,363.36 $310,029.69
DEUTSCHE BOERSE AG DE DB1 GR 289.08 $59,200.67
DEUTSCHE BOERSE AG ADR DE DBOEY 14,914.73 $304,707.92
DIAGEO PLC GB DGE LN 434.13 $16,063.90
DIGITAL REALTY TRUST INC US DLR 131.39 $18,924.76
DIGITALBRIDGE GROUP INC US DBRG 899.92 $17,341.45
DOLLARAMA INC CA DOL CN 332.14 $25,302.48
ELECTRONIC ARTS US EA 3,890.89 $516,204.63
ENERGY TRANSFER LP 7.37500 02/01/2031 US 157,130.42 $164,703.18
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 233,630.45 $248,281.27
EQUINIX INC US EQIX 190.54 $157,260.28
EQUITY COMMONWEALTH US EQC 825.96 $15,594.14
EQUITY LIFESTYLE PROPERTIES US ELS 555.01 $35,742.76
EQUITY RESIDENTIAL US EQR 345.3 $21,791.64
EVERGY INC US EVRG 5,895.42 $314,697.72
EXPERIAN PLC IE EXPN LN 739.8 $32,235.19
EXTRA SPACE STORAGE INC US EXR 248.01 $36,457.30
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 247,057.36 $238,871.58
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 13,104.07 $13,691.34
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,358.1 $6,643.04
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,140.83 $3,281.66
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 16.5 $16.41
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 18,038.93 $17,700.44
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 8,130.13 $7,968.50
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 55,276.59 $54,177.69
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 107,467.56 $110,795.77
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 15,337.92 $14,013.47
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 42,465.38 $40,129.77
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 13,869.41 $12,481.22
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 380,408.47 $352,559.87
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 221,928.78 $202,286.79
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 13,042.9 $12,288.03
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 235,235.09 $222,673.08
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,814.15 $18,544.06
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 19,757.5 $19,474.27
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 253,672.85 $227,510.06
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 245,778.93 $227,786.17
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 237,646.87 $241,316.74
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 235,251.94 $205,395.12
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 387,219.55 $378,286.65
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 246,603.14 $215,938.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 44,089.29 $42,844.86
FHLM POOL C91780 4.50000 07/01/2034 US 5,105.38 $5,038.33
FHLM POOL G03332 6.00000 10/01/2037 US 1,984.02 $2,075.59
FHLM POOL G05900 6.00000 03/01/2040 US 4,349.81 $4,550.57
FHLM POOL G05906 6.00000 04/01/2040 US 4,443.81 $4,648.91
FHLM POOL G06995 6.00000 05/01/2040 US 12,663.42 $13,247.88
FHLM POOL G60034 4.50000 02/01/2045 US 97,966.41 $95,852.53
FHLM POOL K91364 4.50000 11/01/2033 US 651.13 $642.70
FHLM POOL K92059 4.50000 09/01/2034 US 3,569.48 $3,524.24
FHLM POOL SD8230 4.50000 06/01/2052 US 203,492.34 $194,311.76
FHR 5189 CP 2.50000 06/25/2049 US 164,116.4 $140,003.04
FINECOBANK SPA IT FBK IM 1,133.77 $16,980.24
FIRST INDUSTRIAL REALTY TR US FR 231.07 $12,140.29
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,090.6 $18,780.15
FLX 2021-1A A2 3.25000 11/27/2051 US 214,361.45 $194,276.44
FN DS2696 3.00000 12/01/2051 US 276,087.95 $240,695.26
FN FS4339 MTGE 3.00000 12/01/2050 US 316,898.72 $277,500.93
FN FS4925 MTGE 3.50000 04/01/2052 US 352,713.35 $319,703.35
FN MA4020 MTGE 3.00000 05/01/2050 US 369,030.65 $321,723.32
FN MA4733 4.50000 09/01/2052 US 272,690.16 $260,159.18
FN MA4807 MTGE 5.50000 11/01/2052 US 195,103.99 $194,493.01
FN MA4868 MTGE 5.00000 01/01/2053 US 358,341.74 $350,075.03
FN MA4934 MTGE 5.00000 02/01/2043 US 371,116.63 $368,097.43
FNR 2018-31 KP 3.50000 07/25/2047 US 2,261.61 $2,200.50
FR QG6308 MTG 6.00000 07/01/2053 US 322,415.89 $326,638.61
FR SD1129 4.00000 08/01/2051 US 22,482.43 $21,130.45
FR SD1360 MTGE 5.50000 07/01/2052 US 324,510.29 $323,765.64
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 36,298.99 $35,705.52
GLOBANT SA LU GLOB 134.08 $27,070.55
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 18,072.21 $16,364.95
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 29,596.78 $24,913.80
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 102,179.29 $84,056.60
GOODMAN GROUP AU GMG AU 774.76 $17,065.86
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 112,767.5 $97,341.80
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 81,237.49 $71,526.34
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 90,175.4 $77,716.11
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 128,497.16 $110,342.16
HALMA PLC GB HLMA LN 1,646.29 $49,158.84
HAWAII ST 2.68200 10/01/2038 US 134,022.49 $103,888.71
HDFC BANK LTD-ADR IN HDB 8,250.4 $461,774.65
HEINEKEN NV NL HEIA NA 545.19 $52,560.73
HEINEKEN NV-SPN ADR NL HEINY 10,186.86 $492,330.84
HELIOS TOWERS PLC GB HTWS LN 11,121.78 $13,249.04
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 316,600.94 $310,019.34
HUMANA INC US HUM 563.99 $195,546.31
HWIRE 2021-1 A2 2.31100 11/20/2051 US 18,668.05 $16,882.77
IMCD NV NL IMCD NA 290.28 $51,092.93
IMPRL 2021-NQM3 1.59500 11/25/2056 US 101,097.59 $83,920.36
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 49,110.7 $50,930.24
INTERCONTINENTALEXCHANGE INC US ICE 2,223.51 $305,577.06
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,295.17 $33,546.87
INTUITIVE SURGICAL INC US ISRG 533.75 $213,015.50
INVITATION HOMES INC US INVH 1,507.48 $53,681.41
ISHARES BROAD USD HIGH YIELD 2.43400 US 41,382.52 $1,514,186.47
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 31,285.68 $30,744.35
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 24,515,727.98 $161,749.09
JOHNSON & JOHNSON US JNJ 3,730.18 $590,076.54
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 17,487.7 $16,760.65
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 393,713.71 $380,788.95
KEYENCE CORP JP 6861 JP 78.21 $36,311.79
KEYWORDS STUDIOS PLC IE KWS LN 1,206.43 $19,825.47
L'OREAL FR OR FP 18.3 $8,664.16
L3HARRIS TECHNOLOGIES INC US LHX 2,881.47 $614,042.19
LEXINGTON REALTY TRUST US LXP 3,737.91 $33,715.93
LONZA GROUP AG -REG CH LONN SW 76.58 $45,765.42
LONZA GROUP AG ADR CH LZAGY 971.45 $58,199.56
MARRIOTT VACATIONS WORLD US VAC 147.46 $15,886.22
MASCO CORP US MAS 2,881.36 $227,281.78
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 81,368.6 $80,959.34
MASTERCARD INC-CLASS A US MA 1,833.4 $882,910.83
MEDTRONIC INC IE MDT 2,767.04 $241,147.26
MERCADOLIBRE INC BR MELI 26.18 $39,589.87
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 81,368.6 $80,781.53
META PLATFORMS INC US META 1,117.28 $542,526.94
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 138,999.61 $7,706.41
MICRON TECHNOLOGY INC US MU 5,938.34 $700,071.25
MICROSOFT CORP US MSFT 872.12 $366,919.53
MID-AMERICA APARTMENT COMM US MAA 95.09 $12,512.32
MONARCH CASINO & RESORT INC US MCRI 265.67 $19,922.41
MONDELEZ INTERNATIONAL INC US MDLZ 2,756.66 $192,966.41
MOODY'S CORPORATION US MCO 1,068.01 $419,760.34
NAVIENT CORP 6.75000 06/25/2025 US 50,799.6 $51,123.64
NESTLE S.A. - ADR CH NSRGY 4,348.11 $461,769.52
NESTLE SA-REGISTERED CH NESN SW 448.17 $47,617.99
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 52,762.14 $52,580.94
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 81,368.6 $80,520.04
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 152,675.67 $144,461.42
NORTHROP GRUMMAN CORP US NOC 633.39 $303,179.61
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 49,362.81 $0.49
NOVARTIS AG- REG CH NVS 2,416.15 $233,714.63
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 147,958.63 $156,433.06
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 25,271.15 $23,576.81
NRZT 2015-2A A1 3.75000 08/25/2055 US 30,891.62 $28,699.53
NRZT 2016-4A A1 3.75000 11/25/2056 US 61,706.31 $57,289.99
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 100,911.52 $91,512.59
OASIS 2023-1A 7.00000 02/15/2035 US 71,383.02 $71,248.68
OBX 2022-INV1 A1 3.00000 12/25/2051 US 133,237.52 $111,780.11
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 52,142.8 $51,883.44
OXFIN 2020-1A A2 3.10100 02/15/2028 US 46,452.65 $45,123.44
OXFIN 2022-1A 3.60200 02/15/2030 US 203,335.18 $194,260.49
OXFIN 2023-1A A2 6.71600 02/15/2031 US 258,884.39 $260,902.24
OXFINF 2024-A A2 6.67500 01/14/2032 US 24,209.65 $24,061.98
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 307,476.54 $322,487.38
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 116,400.87 $112,442.22
PEAR 2023-1A 7.42000 07/15/2035 US 127,874.42 $129,242.34
PELORUS FUND REIT 7.00000 09/30/2026 US 12,009.5 $11,776.22
PEPSICO INC 3.90000 07/18/2032 US 316,414.32 $299,849.70
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 182,767.82 $148,144.43
PFMT 2021-2 A2A 2.00000 04/25/2051 US 108,563.09 $90,938.34
PHILIP MORRIS INTERNATIONAL US PM 5,706.76 $522,853.10
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 25,941.2 $23,533.67
PROLOGIS US PLD 1,097.68 $142,940.36
PUBLIC STORAGE INC US PSA 191.89 $55,659.56
QUALCOMM INC 4.25000 05/20/2032 US 340,252.99 $328,365.40
RCKT 2021-6 A1 2.50000 12/25/2051 US 233,038.38 $186,910.01
REALTY INCOME CORP US O 492.92 $26,666.86
REXFORD INDUSTRIAL REALITY IN US REXR 838.16 $42,159.56
S&P GLOBAL INC US SPGI 672.86 $286,266.56
SBA COMMUNICATIONS CORP US SBAC 262.38 $56,857.70
SBA TOWER TRUST 1.88400 01/15/2026 US 195,614.15 $182,633.08
SBA TOWER TRUST 6.59900 01/15/2028 US 221,711.11 $227,237.04
SCML 2019-SBC8 2.86000 04/25/2041 US 102,669.08 $95,335.94
SEMT 2013-2 1.87400 02/25/2043 US 13,291.02 $11,224.03
SEMT 2013-6 A2 3.00000 05/25/2043 US 34,510.94 $30,470.14
SEMT 2013-7 A2 3.00000 06/25/2043 US 14,532.49 $12,700.77
SEMT 2013-8 A1 3.00000 06/25/2043 US 17,431.58 $15,460.76
SERVICENOW INC US NOW 279.63 $213,192.23
SIMON PROPERTY 2.25000 01/15/2032 US 137,090.76 $112,212.72
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 419,533.01 $353,845.96
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 153,478.99 $153,242.63
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 12,882.51 $11,251.39
SLMA 2008-3 A3 6.62250 10/25/2021 US 237,749.13 $235,972.06
SLMA 2008-4 A4 7.27250 07/25/2022 US 234,219.82 $236,622.45
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,899.45 $83,821.46
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 15,346.63 $15,008.57
SONY CORP FIRST SECTION JP 6758 JP 456.25 $39,123.73
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 115,905.62 $108,367.39
SORT 2020-1 A2 1.99000 07/15/2060 US 96,435.06 $82,927.40
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 120,512.18 $106,686.22
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 176,609.94 $125,391.98
SUN COMMUNITIES US SUI 422.64 $54,343.47
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,591.3 $760,696.49
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,828.25 $52,017.69
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 3,224.21 $219,197.97
TENCENT HOLDINGS 3.97500 04/11/2029 KY 653,087.95 $620,779.42
TENCENT HOLDINGS LTD CN 700 HK 1,095 $42,650.14
TERRENO REALTY CORP US TRNO 556.45 $36,948.00
THERMO FISHER SCIENTIFIC INC US TMO 374.33 $217,563.33
TPMT 2016-5 A1 2.50000 10/25/2056 US 1,955.47 $1,947.25
TPMT 2017-1 A1 2.75000 10/25/2056 US 502.9 $500.77
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 25,354.93 $25,726.31
TREASURY BOND 2.37500 02/15/2042 US 2,977,572.06 $2,218,291.18
TREASURY NOTE 2.25000 11/15/2027 US 1,513,691.69 $1,408,679.33
TSY INFL IX N/B 0.12500 01/15/2031 US 708,942.48 $631,773.93
TSY INFL IX N/B 2.37500 01/15/2027 US 637,237.58 $642,607.00
UDR INC US UDR 358.53 $13,412.74
UNION PAC CORP US UNP 966.31 $237,643.92
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 5,980.13 $5,729.72
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 39,032.85 $36,058.45
UNITEDHEALTH GROUP INC US UNH 409.1 $202,379.55
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 32,589.25 $27,755.27
US DOLLAR US 1,100,531.68 $1,100,531.68
US TEASURY NOTE 1.75000 11/15/2029 US 1,892,708.24 $1,667,505.54
US TREASURY N/B 0.87500 11/15/2030 US 1,221,046.86 $989,429.54
US TREASURY N/B 2.25000 11/15/2025 US 1,992,403.49 $1,914,263.92
US TREASURY N/B 3.62500 02/15/2053 US 725,624.65 $638,436.31
US TREASURY N/B 4.12500 11/15/2032 US 2,623,609.89 $2,608,442.15
USRE 2021-1 A1 1.91000 10/20/2061 US 21,174.41 $18,549.31
VENTAS INC US VTR 415.29 $18,081.85
VERTEX PHARMACEUTICALS INC US VRTX 685.79 $286,668.25
VISA INC - CLASS A SHARES US V 2,199.42 $613,815.43
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 241,844.38 $226,379.77
WELLTOWER INC. US WELL 547.95 $51,200.20
WIN 2015-1 A1 3.50000 01/20/2045 US 9,698.52 $8,773.73

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

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Sign up to receive the latest financial planning and investment tips and news.

View all Preferences