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 28% - 68%.

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 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

$14.48

Daily $ Change

-$0.03

Daily % Change

-0.21%

as of 01/18/2018

CUSIP

302027636

Inception Date

08/17/2012

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

13.41%

3 Year

3.71%

5 Year

6.48%

10 Year

5.08%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

6.65%

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. 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 0.91%
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 12/31/2017

TREASURY NOTES 13.02%
GOVERNMENT AGENCY 5.77%
TREASURY BONDS 3.42%
FACEBOOK INC -A 2.04%
SERVICENOW INC 1.86%
PRICELINE GROUP INC 1.82%
SKYWORKS SOLUTIONS INC 1.56%
DAVITA INC. 1.46%
QORVO INC 1.26%
NOVARTIS AG- REG 1.22%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Bonds 52.95%
Stocks 45.66%
Cash 1.39%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities 13.51%
Small Capitalization 0.81%
Mid Capitalization 5.93%
Large Capitalization 25.41%
Long Term Fixed Income 12.32%
Intermediate Term Fixed Income 34.93%
Short Term Fixed Income 5.70%
Cash 1.39%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 19,903.45 $19,380.98
00206REM0 AT&T INC 3.90000 08/14/2027 US 221,861.06 $223,343.48
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 450,151.75 $443,111.37
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 69,710.55 $73,457.49
004239109 ACADIA REALTY TRUST US AKR 255.95 $7,002.80
0045614 ANTOFAGASTA PLC GB ANTO LN 9,951.33 $134,303.77
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 218,324.24 $219,860.35
0053673 ASHTEAD GROUP PLC GB AHT LN 870.56 $23,349.59
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 223,277.17 $234,489.88
008492100 AGREE REALTY CORP US ADC 113.31 $5,828.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 8,520.9 $8,989.55
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 35,176.84 $37,287.45
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 4,147.92 $3,741.43
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 207.56 $27,104.94
01609W102 ALIBABA GROUP - ADR CN BABA 295.7 $50,986.74
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 171,251.99 $171,208.79
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 18,810.21 $19,303.97
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,479.06 $11,536.46
02079K107 ALPHABET INC-CL C US GOOG 253.7 $265,472.75
02079K305 ALPHABET INC-CL A US GOOGL 251.74 $265,182.48
023135106 AMAZON.COM INC US AMZN 455.95 $533,225.28
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 110,158.85 $110,324.87
02319V103 AMBEV SA-ADR BR ABEV 88,427.73 $571,243.15
0237400 DIAGEO PLC GB DGE LN 17,801.67 $652,507.51
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 18,263.58 $18,765.83
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 253.44 $10,398.73
02665T306 AMERICAN HOMES 4 RENT- A US AMH 942.13 $20,576.09
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 157,103.43 $165,995.98
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 216,137.76 $220,100.79
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 213,309 $211,103.60
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 12,356.32 $12,613.40
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 12,250.74 $13,283.90
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 235,109.82 $233,539.11
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 139,354.45 $221,626.10
03748R101 APARTMENT INVT & MGMT CO -A US AIV 523.03 $22,861.47
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 208,485.91 $212,050.71
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 4,147.92 $4,376.06
03965L100 ARCONIC INC. US ARNC 14,015.56 $381,923.95
0405207 HALMA PLC GB HLMA LN 863.7 $14,675.31
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 3,871.5 $275,650.70
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 253,050.11 $272,637.68
0490656 KERRY GROUP PLC-A IE KYGA LN 160.61 $18,062.40
053484101 AVALONBAY COMMUNITIES INC US AVB 159 $28,367.95
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 560.97 $13,367.90
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 108,689.92 $112,925.68
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 144,259.8 $147,363.54
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,343.13 $8,454.82
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 180,043.43 $176,834.39
058498106 BALL CORP US BLL 8,757.43 $331,468.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 150,608.89 $156,687.73
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 95,754.52 $116,699.17
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,832.55 $520,088.72
09062X103 BIOGEN IDEC INC US BIIB 1,240.27 $395,114.02
09247X101 BLACKROCK INC US BLK 518.91 $266,571.09
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,762.17 $50,510.18
09627J102 BLUEROCK RESIDENTIAL GROWTH US 493.48 $4,989.04
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 145,688.86 $162,508.74
101121101 BOSTON PROPERTIES INC US BXP 210.26 $27,339.93
105368203 BRANDYWINE REALTY TRUST US BDN 631.87 $11,493.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,413.36 $270,450.96
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 177.82 $11,911.88
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 252.57 $4,713.03
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 38,488.6 $36,275.51
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 4,147.92 $4,522.48
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 162,039.08 $168,842.51
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 85,520.63 $90,094.76
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 189,045.6 $192,463.54
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 35,884.03 $35,345.77
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 109,463.98 $104,131.88
133131102 CAMDEN PROPERTY TRUST US CPT 131.19 $12,077.41
13321L108 CAMECO CORP CA CCJ 765.46 $7,065.17
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,219.78 $16,015.75
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 28,335.11 $28,228.85
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 30,900.38 $31,054.88
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 17,170.34 $17,127.41
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 8,199.33 $8,554.76
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 26,462.91 $26,926.02
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 19,228.29 $21,884.19
165240102 CHESAPEAKE LODGING TRUST US CHSP 444.18 $12,032.92
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 214,851.48 $219,932.42
19625JAA1 CAH 2015-1A A 2.63185 07/17/2032 US 47,383.65 $47,544.62
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 1,498.25 $17,095.01
198287203 COLUMBIA PROPERTY TRUST INC US CXP 319.84 $7,340.36
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 100,962.79 $110,382.06
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 925.5 $26,006.68
20826FAD8 CONOCOPHILLIPS COMPANY 3.35000 11/15/2024 US 154,422.17 $158,984.63
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 64.31 $66.24
21871N101 CORECIVIC INC US CXW 891.74 $20,064.20
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 212,215.75 $212,447.07
222795106 COUSINS PROPERTIES INC US CUZ 1,941.62 $17,959.99
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 15,723.5 $15,802.12
22822V101 CROWN CASTLE INTL CORP US CCI 176.01 $19,539.32
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 77,350.8 $74,019.99
229663109 CUBESMART US CUBE 866.12 $25,048.05
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 10,874.59 $152,348.13
23918K108 DAVITA INC. US DVA 11,764.01 $849,950.01
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 25,241.13 $25,233.56
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 3,124.15 $7,733.12
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,637.81 $179,166.95
253868103 DIGITAL REALTY TRUST INC US DLR 220.84 $25,153.39
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 8,101.95 $8,105.83
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 168,099.93 $167,201.54
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 8,199.33 $8,240.33
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 108,615.5 $110,080.24
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 105,658.11 $111,155.50
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 8,698.51 $28,724.42
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 34,533.71 $34,792.71
26884U109 ENTERTAINMENT PROPERTIES TR US EPR 81.58 $5,339.97
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 110,158.85 $109,228.91
2715777 QUEBECOR INC -CL B CA QBR/B CN 419.62 $7,911.67
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 172.48 $3,936.67
28140H203 EDUCATION REALTY TRUST INC US EDR 155.4 $5,426.67
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 211,314.67 $220,011.90
285512109 ELECTRONIC ARTS US EA 3,725.71 $391,422.84
2866857 LUNDIN MINING CORP CA LUN CN 17,598.13 $117,040.85
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 109,708.74 $110,171.30
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 26,462.91 $28,183.00
294429105 EQUIFAX INC US EFX 2,849.11 $335,966.46
29444U700 EQUINIX INC US EQIX 123.67 $56,048.10
294628102 EQUITY COMMONWEALTH US EQC 369.26 $11,266.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 107.75 $9,591.90
29476L107 EQUITY RESIDENTIAL US EQR 316.05 $20,154.32
297178105 ESSEX PROPERTY TRUST INC US ESS 22.57 $5,448.33
298736109 EURONET WORLDWIDE INC US EEFT 3,657.64 $308,229.03
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 408,189.95 $404,585.23
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 3,607.64 $269,273.98
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 162,826.74 $164,266.95
30225T102 EXTRA SPACE STORAGE INC US EXR 217.78 $19,045.11
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 29,660.19 $29,667.10
30263FAL9 FREMF MORTGAGE TRUST FLT 4.77381 04/25/2044 US 77,813.36 $77,833.09
30286XAN9 FREMF 2015-K43 B FLT 3.73450 02/25/2048 US 238,583.45 $242,447.21
30290HAE8 FREMF 2012-K708 FLT 3.75032 02/25/2045 US 97,742.8 $98,838.63
30291EAE4 FREMF 2013-K712 B FLT 3.36178 05/25/2045 US 117,205.64 $118,248.31
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,271,582.51 $58,476.38
30291XAE2 FREMF 2014-K715 B FLT 3.97921 02/25/2046 US 112,548.73 $115,683.88
30303M102 FACEBOOK INC -A US FB 6,740.93 $1,189,503.80
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 2,517.96 $2,834.23
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 20,914.4 $23,143.57
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 5,705.81 $6,304.53
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 19,297.39 $21,338.99
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 13,040.04 $14,394.98
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 7,700.61 $8,677.22
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 18,500.81 $20,889.03
3128M74G8 FHLM POOL G05923 5.50000 02/01/2040 US 20,626.53 $22,803.04
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 14,068.97 $15,545.66
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 5,537.21 $6,120.17
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 17,132.61 $19,244.65
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 1,790.02 $1,878.79
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 3,885.65 $4,078.41
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 2,748.89 $2,882.95
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 2,089.77 $2,205.02
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 3,679.82 $3,874.27
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 226,668.3 $241,840.84
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 32,960.36 $36,432.17
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 31,909.05 $34,209.06
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 64,781.7 $69,764.92
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 64,406.26 $69,123.08
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 33,911.7 $36,285.25
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 53,446.53 $57,726.61
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 126,326.96 $132,116.51
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 133,004.43 $139,100.19
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 149,254.3 $158,918.38
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 42,046.24 $44,075.70
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 6,590.91 $6,727.51
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 27,416.74 $30,350.23
3137A2B34 FHMS K009 X1 FLT 1.30017 08/25/2020 US 1,458,546.95 $41,516.23
3137ADTK3 FHMS K014 X1 FLT 1.18352 04/25/2021 US 549,473.43 $18,184.38
3137AJMG6 FMHS K016 X1 FLT 1.52418 10/25/2021 US 474,607.17 $22,665.39
3137AL6W4 FHMS K706 X1 FLT 1.54648 10/25/2018 US 683,299.54 $6,180.51
3137AME78 FHMS K017 X1 FLT 1.34993 12/25/2021 US 1,888,580.56 $82,912.46
3137AUPF0 FHMS K021 x1 FLT 1.46532 06/25/2022 US 1,528,758.21 $82,365.36
3137B3NB0 FHMS K030 X1 FLT 0.20689 04/25/2023 US 5,204,761.1 $49,842.35
3137B4GZ3 FHMS K032 X1 FLT 0.10997 05/25/2023 US 3,348,361.34 $19,317.03
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 388,419.36 $406,631.61
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 245,343.71 $248,764.15
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 205,803.39 $208,862.19
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 30,712.64 $32,920.65
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 15,198.67 $16,288.99
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 113,089.77 $121,257.32
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 97,076.59 $104,058.18
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65700 01/01/2049 US 358,720.65 $393,355.43
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 77,247.94 $85,647.21
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 24,623.37 $27,317.16
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 34,444.7 $36,093.05
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 212,233.52 $218,020.95
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 37,884.91 $38,918.00
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 80,705.91 $84,436.33
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 85,967.9 $89,989.74
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 74,808.7 $78,274.36
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 183,419.64 $191,935.80
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 2,938.14 $3,071.11
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 3,709.4 $3,886.92
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 27,343.3 $28,314.48
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 32,724.27 $33,858.13
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 45,048.15 $49,977.97
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 17,385.56 $19,620.21
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 16,703.84 $18,437.48
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 14,355.65 $15,841.99
31412SY41 FEDERAL NATL MTG ASSN 933731 5.50000 04/01/2038 US 45,084.02 $49,477.94
31416BL71 FEDERAL NATL MTG ASSN 995050 6.00000 09/01/2037 US 18,666.73 $21,125.45
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 1,663.34 $1,709.21
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 19,079.28 $19,753.62
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 133,864.41 $143,615.43
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 96,401.92 $103,490.63
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 9,596.51 $10,819.81
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374297109 GETTY REALTY CORP US GTY 310.48 $8,432.76
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45337C102 INCYTE CORP US INCY 4,000 $378,839.53
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4571784 NH HOTEL GROUP SA ES NHH SM 1,577.58 $11,357.10
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46115HAT4 INTESA SANPAOLO SPA 5.01700 06/26/2024 IT 21,864.88 $22,387.95
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46187BAA1 IHSFR 2017-SFR2 A 2.34078 12/17/2036 US 55,010.02 $55,186.58
46187BAB9 IHSFR 2017-SFR2 B 2.64078 12/17/2036 US 41,350.25 $41,428.21
46187W107 INVITATION HOMES INC US INVH 808.27 $19,050.90
464286608 ISHARES MSCI EMU XX 1,201.05 $52,101.39
46434G798 ISHARES MSCI RUSSIA CAPPED E RU 408.69 $13,699.12
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46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 64,351.32 $65,388.73
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4846523 SWEDBANK AB-A SHARES SE SWEDA SS 539.3 $13,010.51
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5107401 BEIERSDORF AG DE BEI GR 119.78 $14,041.73
512816109 LAMAR ADVERTISING CO US LAMR 144.28 $10,711.16
5129074 FRESENIUS MEDICAL DE FME GR 189.55 $19,904.79
517942108 LASALLE HOTEL PROPERTIES US LHO 262.06 $7,356.01
5228658 RANDSTAD HOLDING NV NL RAND NA 380.46 $23,344.30
5289837 ERSTE GROUP BANK AG AT EBS AV 314.99 $13,650.17
53223X107 LIFE STORAGE INC US LSI 124.66 $11,103.75
5330047 DASSAULT SYSTEMES SA FR DSY FP 247.72 $26,302.73
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54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 662.35 $15,260.61
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550021109 LULULEMON - ADR CA LULU 5,580.78 $438,593.60
554382101 THE MACERICH CO US MAC 162.61 $10,679.93
5545670 JUNGHEINRICH AG DE JUN3 GR 441.45 $20,755.45
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 154,723.92 $164,434.75
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5633616 SOPRA STERIA GROUP FR SOP FP 141.38 $26,421.69
5669354 REPSOL SA ES REP SM 1,148.98 $20,286.86
5699373 WIENERBERGER AG AT WIE AV 1,039.66 $25,161.98
5713422 METSO OYJ FI METSO FH 473.51 $16,153.90
5727973 SIEMENS AG-REG DE SIE GR 364.83 $50,513.16
57636Q104 MASTERCARD INC-CLASS A US MA 3,575.35 $541,165.46
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 25,594.72 $26,307.54
5852842 ACCOR SA FR AC FP 563.32 $28,999.57
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 19,131.77 $19,466.58
594918104 MICROSOFT CORP US MSFT 4,677.94 $400,150.96
59522J103 MID-AMERICA APARTMENT COMM US MAA 188.23 $18,928.69
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 151,187.1 $165,435.24
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 162,183.6 $165,594.11
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 15,176.88 $15,006.14
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 18,881.18 $13,829.21
62944TAE5 NVR INC 3.95000 09/15/2022 US 174,016.26 $181,658.51
6356934 FANUC LTD JP 6954 JP 89.23 $21,405.86
637417106 NATIONAL RETAIL PROPERTIES US NNN 288.23 $12,431.51
64110W102 NETEASE.COM INC- ADR CN NTES 24.82 $8,565.84
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 4,256.01 $33,018.97
6474494 JOLLIBEE FOODS CORP PH JFC PM 4,038.07 $20,465.35
6474535 JAPAN TOBACCO INC JP 2914 JP 755.64 $24,333.86
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 82,811.58 $84,599.84
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 130,548.29 $133,713.89
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 225,095.77 $230,000.74
6490995 KEYENCE CORP JP 6861 JP 96.21 $53,744.37
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 16,964.85 $24,202.83
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 45,819.74 $47,308.88
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 18,810.21 $18,763.18
66987V109 NOVARTIS AG- REG CH NVS 8,469.15 $711,069.67
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 14,148.12 $14,793.06
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 116,396.32 $116,444.19
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 116,396.32 $114,935.64
69007J106 OUTFRONT MEDIA INC US OUT 407.67 $9,458.05
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 20,321.53 $20,981.98
69318FAG3 PBF HOLDING CO LLC 7.25000 06/15/2025 US 24,919.56 $26,165.54
697660207 PAMPA ENERGIA SA AR PAM 317.88 $21,387.00
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 14,437.23 $13,787.55
7110902 TECAN GROUP AG-REG CH TECN SW 61.38 $12,748.50
7123870 NESTLE SA-REGISTERED CH NESN SW 273.59 $23,522.41
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 106,879.12 $109,439.91
7147892 TEMENOS GROUP AG-REG CH TEMN SW 87.33 $11,175.98
71642QAB3 PDLLN 7 1/4 05/01/22 7.25000 05/01/2022 GB 19,294.07 $19,573.83
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 96,782.84 $109,727.55
71943U104 PHYSICIANS REALTY TRUST US DOC 1,155.22 $20,782.35
7262610 CREDIT AGRICOLE SA FR ACA FP 1,167.64 $19,280.03
729640102 PLYMOUTH INDUSTRIAL REIT INC US 146.24 $2,702.53
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 30,289.27 $31,500.84
7339451 ORPEA SA FR ORP FP 220.84 $26,000.64
7380062 AAREAL BANK AG DE ARL GR 318.69 $14,389.36
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 459.52 $25,290.42
741503403 PRICELINE GROUP INC US PCLN 612.29 $1,064,002.83
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 210,672.4 $211,574.68
74340W103 PROLOGIS US PLD 572 $36,899.55
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 100,062.57 $109,318.36
74460D109 PUBLIC STORAGE INC US PSA 81.35 $17,002.37
74736K101 QORVO INC US QRVO 11,038.7 $735,177.09
7520794 BANQUE CANTONALE VAUDOIS-REG CH BCVN SW 18.07 $13,629.86
758849103 REGENCY CENTERS CORP US REG 194.82 $13,477.51
75886F107 REGENERON PHARMACEUTICALS INC US REGN 1,769.67 $665,326.15
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 371.77 $10,840.84
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 4,147.92 $3,743.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 36,302.11 $38,026.46
7759435 ILIAD SA FR ILD FP 83.67 $20,047.81
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 8,199.33 $9,028.80
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 295.5 $20,179.88
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 195.76 $20,396.71
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.42703 11/15/2026 US 320,901.35 $319,850.37
78442FET1 SLM CORP 6.12500 03/25/2024 US 18,810.21 $19,045.33
78442PGC4 SLM CORP 5.12500 04/05/2022 US 24,276.43 $25,247.48
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 97,876.09 $109,960.67
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 148,422.4 $147,844.08
806857108 SCHLUMBERGER LTD NL SLB 8,737.01 $588,787.38
81211K100 SEALED AIR CORP US SEE 6,928.96 $341,597.97
812578102 SEATTLE GENETICS INC US SGEN 10,041.14 $537,201.13
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 32,122.16 $31,640.33
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 64,362.77 $64,201.86
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 89,290.66 $88,877.33
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 73,136.15 $69,079.39
81762P102 SERVICENOW INC US NOW 8,304.87 $1,082,871.79
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 17,942.02 $18,121.44
828806109 SIMON PROPERTY GROUP INC US SPG 299.36 $51,411.90
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 6,334.41 $6,350.25
83088M102 SKYWORKS SOLUTIONS INC US SWKS 9,594.4 $910,988.49
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 43,729.77 $43,616.16
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 24,597.99 $24,630.80
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 22,649.19 $22,705.59
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 111,574.01 $113,929.04
84265V105 SOUTHERN COPPER CORPORATION US SCCO 3,214.88 $152,546.24
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 105,335.77 $109,236.32
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 25,016.08 $25,985.45
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 8,199.33 $8,630.62
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 8,199.33 $8,691.29
85254J102 STAG INDUSTRIAL INC US STAG 621.29 $16,979.86
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 12,443.77 $12,350.44
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.69703 11/15/2027 US 161,300.55 $161,416.31
862121100 STORE CAPITAL CORP US STOR 457.27 $11,907.31
866674104 SUN COMMUNITIES US SUI 121.16 $11,241.07
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 683.99 $11,306.38
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 37,395.36 $38,376.98
876664103 TAUBMAN CTRS INC US TCO 82.12 $5,373.29
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 74,190.52 $74,270.77
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 30,160.73 $24,731.80
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 8,199.33 $8,281.32
88146M101 TERRENO REALTY CORP US TRNO 314.73 $11,034.39
882508104 TEXAS INSTRUMENTS INC US TXN 2,560.93 $267,463.98
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 315,739.1 $313,466.19
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 537.85 $11,956.45
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 234,084.09 $230,795.30
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 89,420.1 $89,052.95
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 29,196.02 $27,736.22
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 27,556.16 $29,622.87
902653104 UDR INC US UDR 400.45 $15,425.44
903002103 UMH PROPERTIES INC US UMH 579.52 $8,634.88
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 52,090.1 $52,449.52
904767704 UNILEVER PLC - ADR GB UL 9,177.3 $507,871.76
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 434,831.85 $611,329.41
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 691,951.96 $921,836.79
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 346,732.59 $350,107.23
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 487,070.13 $464,333.85
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 223,885.57 $223,426.44
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 579,739.84 $572,561.03
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 849,746.56 $831,357.51
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 1,323,332.7 $1,282,960.72
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 647,668.74 $610,022.99
912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 596,791.85 $594,577.19
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 950,104.23 $900,409.32
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 338,300.87 $335,673.54
912828WZ9 UNITED STATES TREAS NTS 1.75000 04/30/2022 US 1,302,978.8 $1,280,532.96
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 1,178,149.16 $1,174,789.59
912828XQ8 US TREASURY N/B 2.00000 07/31/2022 US 352,840.11 $350,152.46
91704F104 URBAN EDGE PROPERTIES US UE 867.88 $22,122.34
918370AB3 VTR FINANCE BV 6.87500 01/15/2024 NL 44,019.31 $46,440.37
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 4,147.92 $4,355.32
92276F100 VENTAS INC US VTR 177.14 $10,630.13
92339V100 VEREIT INC US VER 1,733.45 $13,503.59
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 211,571.75 $220,608.61
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,782.54 $416,991.97
92826C839 VISA INC - CLASS A SHARES US V 4,842.9 $552,187.37
92826CAC6 VISA INC 2.80000 12/14/2022 US 163,469.87 $165,864.81
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 36,817.14 $38,124.02
929042109 VORNADO REALTY TRUST US VNO 292.16 $22,840.78
92936CAE9 WFRBS 2011-C4 A3 4.39400 06/15/2044 US 8,769.68 $8,904.59
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 25,241.13 $25,114.92
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 27,009.54 $26,874.49
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 38,588.14 $40,365.63
95040Q104 WELLTOWER INC. US HCN 307.43 $19,604.79
962166104 WEYERHAEUSER CO US WY 10,214.46 $360,161.68
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 17,716.96 $18,071.30
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 15,305.42 $16,338.53
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 163,662.9 $164,003.07
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 92,766.77 $93,661.79
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 98,865.49 $100,394.84
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 18,038.53 $18,264.01
984245100 YPF S.A.-SPONSORED ADR AR YPF 624.09 $14,297.96
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 11,482.98 $422,573.77
98954UAB9 ZIGGO BOND FINANCE BV 6.00000 01/15/2027 NL 6,109.36 $5,956.62
AP0787667 MPC CONTAINER SHIPS FLT 6.40793 09/22/2022 NL 21,864.88 $21,458.85
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 21,864.88 $21,756.87
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,100.97 $14,132.67
B037JC2 NEXITY FR NXI FP 332.29 $19,765.83
B0386J1 JYSKE BANK-REG DK JYSK DC 237.82 $13,521.54
B06JSP1 SYDBANK A/S DK SYDB DC 340.46 $13,703.71
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 1,195.93 $12,795.42
B0LF188 EFG INTERNATIONAL AG CH EFGN SW 1,733.17 $18,298.84
B11ZRK9 LEGRAND SA FR LR FP 267.53 $20,567.21
B138HB7 KAUFMAN & BROAD SA FR KOF FP 294.41 $13,974.44
B13X013 EIFFAGE FR FGR FP 316.18 $34,602.92
B15C557 TOTAL SA FR FP FP 378.81 $20,910.42
B1FRH89 M DIAS BRANCO SA BR MDIA3 BZ 965.92 $15,171.28
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,058.25 $19,442.85
B1HDJL2 NATIXIS FR KN FP 3,416.8 $26,987.58
B1HKSV6 BANCA GENERALI SPA IT BGN IM 598.95 $19,902.59
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 755.64 $3,916.44
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 1,214.16 $14,417.92
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 26,366.4 $35,897.55
B1WGG93 GEBERIT AG-REG CH GEBN SW 39.42 $17,352.12
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 431.58 $21,649.77
B1XH026 VINCI SA FR DG FP 416.6 $42,531.00
B1Y9TB3 DANONE FR BN FP 231.26 $19,377.18
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 4,006.48 $18,179.01
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 73.57 $18,513.93
B232R05 SK INNOVATION CO LTD KR 096770 KS 74.57 $14,225.12
B23FNB7 ALIANSCE SHOPPING CENTERS SA BR ALSC3 BZ 2,733.62 $14,866.77
B283W97 CAIXABANK S.A ES CABK SM 7,301.84 $33,944.84
B2B0DG9 RELX PLC GB REL LN 743.16 $17,425.75
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 1,917.71 $20,812.66
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 40,514.95 $33,000.51
B3NB1P2 SUNCOR ENERGY INC CA SU CN 391.68 $14,380.12
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 208,672.89 $10,250.31
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 50,290.1 $41,553.14
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 379,415.47 $18,470.71
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 34,604.94 $24,572.17
B4R2R50 JULIUS BAER CH BAER SW 223.67 $13,677.81
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 73,042.73 $24,727.86
B4X4D29 FLEURY SA BR FLRY3 BZ 2,140.93 $19,110.93
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 89,197.21 $67,470.29
B4YVF56 BRENNTAG AG DE BNR GR 376.16 $23,714.37
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 46,720.82 $37,377.03
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 547,262.63 $28,058.26
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,761.43 $21,857.52
B63QM77 NEXON CO LTD JP 3659 JP 557.56 $16,169.49
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 141,481.2 $7,199.44
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 19,609 $19,640.42
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 166,219.17 $20,704.65
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 431.68 $11,946.57
BB22L96 KION GROUP AG DE KGX GR 334.02 $28,753.15
BBG00B6C5VY1 REGN US 01/19/18 P350 US -3.85 -$570.12
BBG00BKPTRR7 LULU US 01/19/18 C80 CA -16.51 -$3,021.01
BBG00J640583 MDT US 12/29/17 P77.5 IE -16.86 -$50.59
BBG00JG6RS79 SWKS US 12/29/17 C97.5 US -13.7 -$68.49
BD0PJ08 INMOBILIARIA COLONIAL SOCMI ES COL SM 1,422.21 $14,118.18
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 396.47 $7,237.53
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 21,864.88 $21,810.22
BFNX8F1 REPSOL SA-RTS ES 1,148.98 $522.49
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 10,747.81 $20,711.92
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,714.93 $10,450.12
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 1,122.84 $16,417.26
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 17,305.72 $14,774.27
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,808.53 $352,395.67
BNBNSG0 EURONEXT NV NL ENX FP 479.65 $29,752.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,285.81 $23,348.64
BNGNB77 MERLIN PROPERTIES SOCIMI SA ES MRL SM 1,030.82 $13,961.46
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 238.94 $5,280.86
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 637.21 $22,156.89
BVRZ8L1 AENA SA ES AENA SM 282.13 $57,096.29
BVSS790 ELIS SA FR ELIS FP 744.58 $20,558.08
BYXS699 QIAGEN N.V. NL QIA GR 467.4 $14,578.44
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 4,799.35 $535,804.31
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 13,760.16 $14,033.56
BYZFYS3 SPIE SA FR SPIE FP 992.3 $25,798.78
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 2,694.01 $20,743.27
BYZR014 AMUNDI SA FR AMUN FP 263.51 $22,317.73
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 394.28 $23,504.12
BZ3C3Q4 BANKIA SA ES BKIA SM 2,911.18 $13,894.86
G02602103 AMDOCS LTD GG DOX 429.23 $28,106.23
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 169.17 $7,700.75
G3157S106 ENSCO INTERNATIONAL INC US ESV 16,243.91 $96,001.48
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 21,125.23 $22,339.94
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 578.05 $12,873.11
G5960L103 MEDTRONIC INC IE MDT 8,638.57 $697,564.61
G6518L108 NIELSEN HOLDINGS PLC US NLSN 14,751.26 $536,945.83
G97822103 PERRIGO CO PLC IE PRGO 289.97 $25,273.92
H8817H100 TRANSOCEAN LTD US RIG 25,555.46 $272,932.27
N47279109 INTERXION HOLDING NX NL INXN 345.05 $20,333.83
N72482123 QIAGEN N.V. ADR NL QGEN 368.08 $11,384.56
USD US DOLLAR US 824,496.89 $824,496.89

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.

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.

Daily Price

$14.48

Daily $ Change

-$0.03

Daily % Change

-0.21%

as of 01/18/2018

CUSIP

302027636

Inception Date

08/17/2012

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a 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 28% - 68%.

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 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

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

13.41%

3 Year

3.71%

5 Year

6.48%

10 Year

5.08%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

6.65%

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. 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 0.91%
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 12/31/2017

TREASURY NOTES 13.02%
GOVERNMENT AGENCY 5.77%
TREASURY BONDS 3.42%
FACEBOOK INC -A 2.04%
SERVICENOW INC 1.86%
PRICELINE GROUP INC 1.82%
SKYWORKS SOLUTIONS INC 1.56%
DAVITA INC. 1.46%
QORVO INC 1.26%
NOVARTIS AG- REG 1.22%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Bonds
52.95%
Stocks
45.66%
Cash
1.39%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities
13.51%
Small Capitalization
0.81%
Mid Capitalization
5.93%
Large Capitalization
25.41%
Long Term Fixed Income
12.32%
Intermediate Term Fixed Income
34.93%
Short Term Fixed Income
5.70%
Cash
1.39%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 19,903.45 $19,380.98
00206REM0 AT&T INC 3.90000 08/14/2027 US 221,861.06 $223,343.48
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 450,151.75 $443,111.37
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 69,710.55 $73,457.49
004239109 ACADIA REALTY TRUST US AKR 255.95 $7,002.80
0045614 ANTOFAGASTA PLC GB ANTO LN 9,951.33 $134,303.77
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 218,324.24 $219,860.35
0053673 ASHTEAD GROUP PLC GB AHT LN 870.56 $23,349.59
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 223,277.17 $234,489.88
008492100 AGREE REALTY CORP US ADC 113.31 $5,828.80
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 8,520.9 $8,989.55
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 35,176.84 $37,287.45
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 4,147.92 $3,741.43
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 207.56 $27,104.94
01609W102 ALIBABA GROUP - ADR CN BABA 295.7 $50,986.74
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 171,251.99 $171,208.79
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 18,810.21 $19,303.97
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 11,479.06 $11,536.46
02079K107 ALPHABET INC-CL C US GOOG 253.7 $265,472.75
02079K305 ALPHABET INC-CL A US GOOGL 251.74 $265,182.48
023135106 AMAZON.COM INC US AMZN 455.95 $533,225.28
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 110,158.85 $110,324.87
02319V103 AMBEV SA-ADR BR ABEV 88,427.73 $571,243.15
0237400 DIAGEO PLC GB DGE LN 17,801.67 $652,507.51
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 18,263.58 $18,765.83
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 253.44 $10,398.73
02665T306 AMERICAN HOMES 4 RENT- A US AMH 942.13 $20,576.09
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 157,103.43 $165,995.98
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 216,137.76 $220,100.79
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 213,309 $211,103.60
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 12,356.32 $12,613.40
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 12,250.74 $13,283.90
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 235,109.82 $233,539.11
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 139,354.45 $221,626.10
03748R101 APARTMENT INVT & MGMT CO -A US AIV 523.03 $22,861.47
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 208,485.91 $212,050.71
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 4,147.92 $4,376.06
03965L100 ARCONIC INC. US ARNC 14,015.56 $381,923.95
0405207 HALMA PLC GB HLMA LN 863.7 $14,675.31
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 3,871.5 $275,650.70
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 253,050.11 $272,637.68
0490656 KERRY GROUP PLC-A IE KYGA LN 160.61 $18,062.40
053484101 AVALONBAY COMMUNITIES INC US AVB 159 $28,367.95
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 560.97 $13,367.90
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 108,689.92 $112,925.68
05565QDG0 BP CAPITAL MARKETS PLC 3.21600 11/28/2023 GB 144,259.8 $147,363.54
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,343.13 $8,454.82
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 180,043.43 $176,834.39
058498106 BALL CORP US BLL 8,757.43 $331,468.66
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 150,608.89 $156,687.73
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 95,754.52 $116,699.17
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 5,832.55 $520,088.72
09062X103 BIOGEN IDEC INC US BIIB 1,240.27 $395,114.02
09247X101 BLACKROCK INC US BLK 518.91 $266,571.09
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,762.17 $50,510.18
09627J102 BLUEROCK RESIDENTIAL GROWTH US 493.48 $4,989.04
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 145,688.86 $162,508.74
101121101 BOSTON PROPERTIES INC US BXP 210.26 $27,339.93
105368203 BRANDYWINE REALTY TRUST US BDN 631.87 $11,493.70
110122108 BRISTOL MYERS SQUIBB CO US BMY 4,413.36 $270,450.96
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 177.82 $11,911.88
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 252.57 $4,713.03
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 38,488.6 $36,275.51
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 4,147.92 $4,522.48
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 162,039.08 $168,842.51
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 85,520.63 $90,094.76
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 189,045.6 $192,463.54
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 35,884.03 $35,345.77
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 109,463.98 $104,131.88
133131102 CAMDEN PROPERTY TRUST US CPT 131.19 $12,077.41
13321L108 CAMECO CORP CA CCJ 765.46 $7,065.17
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 1,219.78 $16,015.75
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 28,335.11 $28,228.85
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 30,900.38 $31,054.88
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 17,170.34 $17,127.41
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 8,199.33 $8,554.76
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 26,462.91 $26,926.02
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 19,228.29 $21,884.19
165240102 CHESAPEAKE LODGING TRUST US CHSP 444.18 $12,032.92
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 214,851.48 $219,932.42
19625JAA1 CAH 2015-1A A 2.63185 07/17/2032 US 47,383.65 $47,544.62
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 1,498.25 $17,095.01
198287203 COLUMBIA PROPERTY TRUST INC US CXP 319.84 $7,340.36
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 100,962.79 $110,382.06
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 925.5 $26,006.68
20826FAD8 CONOCOPHILLIPS COMPANY 3.35000 11/15/2024 US 154,422.17 $158,984.63
20826FAG1 CONOCOPHILLIPS COMPANY 3.35000 05/15/2025 US 64.31 $66.24
21871N101 CORECIVIC INC US CXW 891.74 $20,064.20
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 212,215.75 $212,447.07
222795106 COUSINS PROPERTIES INC US CUZ 1,941.62 $17,959.99
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 15,723.5 $15,802.12
22822V101 CROWN CASTLE INTL CORP US CCI 176.01 $19,539.32
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 77,350.8 $74,019.99
229663109 CUBESMART US CUBE 866.12 $25,048.05
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 10,874.59 $152,348.13
23918K108 DAVITA INC. US DVA 11,764.01 $849,950.01
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 25,241.13 $25,233.56
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 3,124.15 $7,733.12
25271C102 DIAMOND OFFSHORE DRILLING US DO 9,637.81 $179,166.95
253868103 DIGITAL REALTY TRUST INC US DLR 220.84 $25,153.39
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 8,101.95 $8,105.83
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 168,099.93 $167,201.54
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 8,199.33 $8,240.33
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 108,615.5 $110,080.24
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 105,658.11 $111,155.50
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 8,698.51 $28,724.42
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 34,533.71 $34,792.71
26884U109 ENTERTAINMENT PROPERTIES TR US EPR 81.58 $5,339.97
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 110,158.85 $109,228.91
2715777 QUEBECOR INC -CL B CA QBR/B CN 419.62 $7,911.67
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 172.48 $3,936.67
28140H203 EDUCATION REALTY TRUST INC US EDR 155.4 $5,426.67
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 211,314.67 $220,011.90
285512109 ELECTRONIC ARTS US EA 3,725.71 $391,422.84
2866857 LUNDIN MINING CORP CA LUN CN 17,598.13 $117,040.85
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 109,708.74 $110,171.30
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 26,462.91 $28,183.00
294429105 EQUIFAX INC US EFX 2,849.11 $335,966.46
29444U700 EQUINIX INC US EQIX 123.67 $56,048.10
294628102 EQUITY COMMONWEALTH US EQC 369.26 $11,266.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 107.75 $9,591.90
29476L107 EQUITY RESIDENTIAL US EQR 316.05 $20,154.32
297178105 ESSEX PROPERTY TRUST INC US ESS 22.57 $5,448.33
298736109 EURONET WORLDWIDE INC US EEFT 3,657.64 $308,229.03
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 408,189.95 $404,585.23
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 3,607.64 $269,273.98
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 162,826.74 $164,266.95
30225T102 EXTRA SPACE STORAGE INC US EXR 217.78 $19,045.11
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 29,660.19 $29,667.10
30263FAL9 FREMF MORTGAGE TRUST FLT 4.77381 04/25/2044 US 77,813.36 $77,833.09
30286XAN9 FREMF 2015-K43 B FLT 3.73450 02/25/2048 US 238,583.45 $242,447.21
30290HAE8 FREMF 2012-K708 FLT 3.75032 02/25/2045 US 97,742.8 $98,838.63
30291EAE4 FREMF 2013-K712 B FLT 3.36178 05/25/2045 US 117,205.64 $118,248.31
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 14,271,582.51 $58,476.38
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81762P102 SERVICENOW INC US NOW 8,304.87 $1,082,871.79
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84265V105 SOUTHERN COPPER CORPORATION US SCCO 3,214.88 $152,546.24
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845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 25,016.08 $25,985.45
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85254J102 STAG INDUSTRIAL INC US STAG 621.29 $16,979.86
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 12,443.77 $12,350.44
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.69703 11/15/2027 US 161,300.55 $161,416.31
862121100 STORE CAPITAL CORP US STOR 457.27 $11,907.31
866674104 SUN COMMUNITIES US SUI 121.16 $11,241.07
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876664103 TAUBMAN CTRS INC US TCO 82.12 $5,373.29
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 74,190.52 $74,270.77
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 30,160.73 $24,731.80
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 8,199.33 $8,281.32
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882508104 TEXAS INSTRUMENTS INC US TXN 2,560.93 $267,463.98
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893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 537.85 $11,956.45
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896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 29,196.02 $27,736.22
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902653104 UDR INC US UDR 400.45 $15,425.44
903002103 UMH PROPERTIES INC US UMH 579.52 $8,634.88
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912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 691,951.96 $921,836.79
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 346,732.59 $350,107.23
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 487,070.13 $464,333.85
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912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 579,739.84 $572,561.03
912828Q78 US TREASURY N/B 1.37500 04/30/2021 US 849,746.56 $831,357.51
912828R28 US TREASURY N/B 1.62500 04/30/2023 US 1,323,332.7 $1,282,960.72
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912828S92 US TREASURY N/B 1.25000 07/31/2023 US 950,104.23 $900,409.32
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 338,300.87 $335,673.54
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91704F104 URBAN EDGE PROPERTIES US UE 867.88 $22,122.34
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91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 4,147.92 $4,355.32
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92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,782.54 $416,991.97
92826C839 VISA INC - CLASS A SHARES US V 4,842.9 $552,187.37
92826CAC6 VISA INC 2.80000 12/14/2022 US 163,469.87 $165,864.81
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 36,817.14 $38,124.02
929042109 VORNADO REALTY TRUST US VNO 292.16 $22,840.78
92936CAE9 WFRBS 2011-C4 A3 4.39400 06/15/2044 US 8,769.68 $8,904.59
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 25,241.13 $25,114.92
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 27,009.54 $26,874.49
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95040Q104 WELLTOWER INC. US HCN 307.43 $19,604.79
962166104 WEYERHAEUSER CO US WY 10,214.46 $360,161.68
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 17,716.96 $18,071.30
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 15,305.42 $16,338.53
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 163,662.9 $164,003.07
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97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 98,865.49 $100,394.84
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 18,038.53 $18,264.01
984245100 YPF S.A.-SPONSORED ADR AR YPF 624.09 $14,297.96
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 11,482.98 $422,573.77
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AP0787667 MPC CONTAINER SHIPS FLT 6.40793 09/22/2022 NL 21,864.88 $21,458.85
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B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,100.97 $14,132.67
B037JC2 NEXITY FR NXI FP 332.29 $19,765.83
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B0LF188 EFG INTERNATIONAL AG CH EFGN SW 1,733.17 $18,298.84
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B1HKSV6 BANCA GENERALI SPA IT BGN IM 598.95 $19,902.59
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 755.64 $3,916.44
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 1,214.16 $14,417.92
B1VWPC8 UK TSY 5% 2018 5.00000 03/07/2018 GB 26,366.4 $35,897.55
B1WGG93 GEBERIT AG-REG CH GEBN SW 39.42 $17,352.12
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 431.58 $21,649.77
B1XH026 VINCI SA FR DG FP 416.6 $42,531.00
B1Y9TB3 DANONE FR BN FP 231.26 $19,377.18
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 4,006.48 $18,179.01
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 73.57 $18,513.93
B232R05 SK INNOVATION CO LTD KR 096770 KS 74.57 $14,225.12
B23FNB7 ALIANSCE SHOPPING CENTERS SA BR ALSC3 BZ 2,733.62 $14,866.77
B283W97 CAIXABANK S.A ES CABK SM 7,301.84 $33,944.84
B2B0DG9 RELX PLC GB REL LN 743.16 $17,425.75
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 1,917.71 $20,812.66
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 40,514.95 $33,000.51
B3NB1P2 SUNCOR ENERGY INC CA SU CN 391.68 $14,380.12
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 208,672.89 $10,250.31
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 50,290.1 $41,553.14
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 379,415.47 $18,470.71
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 34,604.94 $24,572.17
B4R2R50 JULIUS BAER CH BAER SW 223.67 $13,677.81
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 73,042.73 $24,727.86
B4X4D29 FLEURY SA BR FLRY3 BZ 2,140.93 $19,110.93
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 89,197.21 $67,470.29
B4YVF56 BRENNTAG AG DE BNR GR 376.16 $23,714.37
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 46,720.82 $37,377.03
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 547,262.63 $28,058.26
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,761.43 $21,857.52
B63QM77 NEXON CO LTD JP 3659 JP 557.56 $16,169.49
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 141,481.2 $7,199.44
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 19,609 $19,640.42
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 166,219.17 $20,704.65
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 431.68 $11,946.57
BB22L96 KION GROUP AG DE KGX GR 334.02 $28,753.15
BBG00B6C5VY1 REGN US 01/19/18 P350 US -3.85 -$570.12
BBG00BKPTRR7 LULU US 01/19/18 C80 CA -16.51 -$3,021.01
BBG00J640583 MDT US 12/29/17 P77.5 IE -16.86 -$50.59
BBG00JG6RS79 SWKS US 12/29/17 C97.5 US -13.7 -$68.49
BD0PJ08 INMOBILIARIA COLONIAL SOCMI ES COL SM 1,422.21 $14,118.18
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 396.47 $7,237.53
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 21,864.88 $21,810.22
BFNX8F1 REPSOL SA-RTS ES 1,148.98 $522.49
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 10,747.81 $20,711.92
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 5,714.93 $10,450.12
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 1,122.84 $16,417.26
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 17,305.72 $14,774.27
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,808.53 $352,395.67
BNBNSG0 EURONEXT NV NL ENX FP 479.65 $29,752.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,285.81 $23,348.64
BNGNB77 MERLIN PROPERTIES SOCIMI SA ES MRL SM 1,030.82 $13,961.46
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 238.94 $5,280.86
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 637.21 $22,156.89
BVRZ8L1 AENA SA ES AENA SM 282.13 $57,096.29
BVSS790 ELIS SA FR ELIS FP 744.58 $20,558.08
BYXS699 QIAGEN N.V. NL QIA GR 467.4 $14,578.44
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 4,799.35 $535,804.31
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 13,760.16 $14,033.56
BYZFYS3 SPIE SA FR SPIE FP 992.3 $25,798.78
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 2,694.01 $20,743.27
BYZR014 AMUNDI SA FR AMUN FP 263.51 $22,317.73
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 394.28 $23,504.12
BZ3C3Q4 BANKIA SA ES BKIA SM 2,911.18 $13,894.86
G02602103 AMDOCS LTD GG DOX 429.23 $28,106.23
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 169.17 $7,700.75
G3157S106 ENSCO INTERNATIONAL INC US ESV 16,243.91 $96,001.48
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 21,125.23 $22,339.94
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 578.05 $12,873.11
G5960L103 MEDTRONIC INC IE MDT 8,638.57 $697,564.61
G6518L108 NIELSEN HOLDINGS PLC US NLSN 14,751.26 $536,945.83
G97822103 PERRIGO CO PLC IE PRGO 289.97 $25,273.92
H8817H100 TRANSOCEAN LTD US RIG 25,555.46 $272,932.27
N47279109 INTERXION HOLDING NX NL INXN 345.05 $20,333.83
N72482123 QIAGEN N.V. ADR NL QGEN 368.08 $11,384.56
USD US DOLLAR US 824,496.89 $824,496.89

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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