Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a moderately growth-oriented mix of investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 36% - 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 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2030
  • Who have some time to pursue growth and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$21.52

Daily $ Change

$0.03

Daily % Change

0.14%

as of 11/25/2022

CUSIP

302027628

Inception Date

05/31/2007

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 10/31/2022

YTD

-18.21%

1 Year

-17.49%

3 Year

3.54%

5 Year

4.60%

10 Year

6.39%

Inception
(01/01/2000)

6.55%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

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

Top Ten Investments

As of 10/31/2022

TREASURY NOTES 14.30%
TREASURY BONDS 10.47%
GOVERNMENT AGENCY 6.57%
AMAZON.COM INC 2.05%
JOHNSON & JOHNSON 1.86%
FMC CORP 1.82%
MICROSOFT CORP 1.76%
MASTERCARD INC-CLASS A 1.67%
INTERCONTINENTALEXCHANGE INC 1.59%
ALPHABET INC-CL A 1.45%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2022

Bonds 49.64%
Stocks 45.25%
Cash 5.11%

Detailed Asset Class Allocation

As of 10/31/2022

International Equities 10.96%
Small Capitalization 0.67%
Mid Capitalization 4.05%
Large Capitalization 29.57%
Long Term Fixed Income 15.24%
Intermediate Term Fixed Income 30.41%
Short Term Fixed Income 3.99%
Cash 5.11%

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

October Fund Holdings

As of 10/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 319.72 $31,632.94
ACTIVISION INC US ATVI 8,704.66 $633,699.15
ADIDAS AG-SPONSORED ADR DE ADDYY 6,861.8 $334,581.36
ADMIRAL GROUP PLC GB AMIGY 24,140.66 $557,407.93
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 279,237.19 $225,530.18
ADYEN NV UNSPON ADR NL ADYEY 44,475.78 $639,116.95
AGREE REALTY CORP US ADC 683.01 $46,922.74
AIR LIQUIDE-ADR FR AIQUY 36,068.87 $942,840.14
AIR LEASE CORP 3.62500 04/01/2027 US 334,966.91 $295,061.98
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 46,204.06 $45,726.17
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 679,260.29 $462,203.58
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 195,170.14 $140,312.93
ALLSTATE CORPORATION US ALL 134.61 $16,994.98
ALPHABET INC-CL A US GOOGL 18,061.54 $1,706,996.45
AMAZON.COM INC US AMZN 23,563.7 $2,413,865.15
AMAZON.COM INC 3.30000 04/13/2027 US 662,136.18 $621,132.70
DIAGEO PLC GB DGE LN 2,921.53 $120,228.42
BAE SYSTEMS PLC GB BA/ LN 11,433.44 $106,943.48
AMERICAN HOMES 4 RENT- A US AMH 3,646.56 $116,471.21
AMERICAN TOWER REIT INC US AMT 328.29 $68,019.09
ANALOG DEVICES INC US ADI 184.4 $26,298.96
APPLE HOSPITALITY REIT INC US APLE 4,788.58 $81,980.54
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 47,881.56 $48,109.83
ARCHER-DANIELS-MIDLAND CO US ADM 210.64 $20,427.69
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 296,004.16 $257,885.14
AUTOMATIC DATA PROCESSING US ADP 124.19 $30,016.44
AVALONBAY COMMUNITIES INC US AVB 502.29 $87,961.50
BAE SYSTEMS PLC -SPON ADR GB BAESY 17,008.67 $635,103.60
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 303,037.39 $280,313.61
BANK OF AMERICA CORP 2.68700 04/22/2032 US 552,841.92 $426,151.78
BARRICK GOLD CORP CA GOLD 21,009.28 $315,769.48
BAXTER INTERNATIONAL INC US BAX 162.55 $8,834.74
BEST BUY INC US BBY 130.85 $8,951.45
BIOMARIN PHARMACEUTICAL INC US BMRN 9,496.02 $822,640.15
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 288,486.9 $247,493.81
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,351.87 $70,702.44
BRANDYWINE REALTY TRUST US BDN 3,692.86 $24,225.14
BABS 2021-RM2 A 1.75000 10/25/2061 US 216,854.92 $186,685.52
BRISTOL MYERS SQUIBB CO US BMY 545.61 $42,268.63
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.84 $9,429.36
JONAH ENERGY PARENT LLC US 1,981.07 $65,731.77
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 309,775.93 $272,232.17
SORT 2020-1 A2 1.99000 07/15/2060 US 254,348.2 $207,516.74
C.H. ROBINSON WORLDWIDE INC US CHRW 85.46 $8,351.21
CIM 2019-INV1 A1 4.00000 02/25/2049 US 14,706.11 $14,071.02
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 256,861.65 $246,565.16
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 142,700.92 $134,818.92
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 86,082.85 $73,521.33
COTERRA ENERGY INC US CTRA 318.37 $9,910.79
CAMDEN PROPERTY TRUST US CPT 564.63 $65,242.47
CAMPBELL SOUP CO US CPB 171.08 $9,051.66
CANADIAN NATIONAL RAILWAY CO CA CNI 6,059.38 $717,672.79
CARETRUST REIT INC US CTRE 3,990.23 $74,537.53
CATERPILLAR INC US CAT 168.09 $36,383.67
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,525 $57,915.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 316,915.09 $311,565.81
CHARTER COMMUNICATIONS INC-A US CHTR 2,113.84 $777,088.09
CHEVRON CORP US CVX 308.3 $55,770.96
CINCINNATI FINANCIAL CORP US CINF 85.89 $8,873.76
CISCO SYSTEMS INC US CSCO 1,049.93 $47,698.16
CITIGROUP INC US C 641.21 $29,405.68
CITIGROUP INC 1.46200 06/09/2027 US 529,423.54 $449,598.11
CLARK CNTY NV 1.51000 11/01/2028 US 145,554.94 $117,551.33
COCA COLA CO/THE US KO 18,091.7 $1,082,788.35
COLGATE-PALMOLIVE CO US CL 293.14 $21,645.47
COMCAST CORP-CL A US CMCSA 1,135.39 $36,037.18
COMMUNITY HEALTHCARE TRUST I US CHCT 1,237.45 $42,815.66
CONAGRA BRAND INC. US CAG 260.1 $9,545.56
CONOCOPHILLIPS US COP 286.38 $36,109.94
CONTROLADORA VUELA CIA DE AV MX VLRS 4,080.26 $34,192.55
COPART INC US CPRT 5,406.29 $621,831.06
COUSINS PROPERTIES INC US CUZ 2,757.15 $65,509.77
CAALT 2020-1A 2.01000 02/15/2029 US 21,806.06 $21,771.99
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 139,133.4 $126,933.78
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 411,643.59 $342,572.81
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 47,823.71 $40,163.57
CUMMINS INC US CMI 68.65 $16,786.18
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 75,631.49 $63,820.94
KIMBERLY CLARK DE MEXICO S.A.B. MX 79,928.34 $125,945.72
DEVON ENERGY CORPORATION US DVN 208.94 $16,161.19
DIAMONDBACK ENERGY INC US FANG 67.8 $10,652.25
DIGITAL REALTY TRUST INC US DLR 859.61 $86,176.21
DOLLAR TREE STORES INC US DLTR 4,512.04 $715,157.85
DOW INC US DOW 223.12 $10,428.72
DREYFUS GVT CSH MANAGEMENT US 6,354,226.15 $6,354,226.15
EOG RESOURCES INC US EOG 156.67 $21,388.08
EASTMAN CHEM CO US EMN 80.14 $6,155.54
EBAY INC US EBAY 201.49 $8,027.26
ELECTRONIC ARTS US EA 5,176.22 $651,997.28
EMERSON ELEC CO US EMR 228.3 $19,770.56
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 742,227.66 $679,728.61
EQUINIX INC US EQIX 1,447.19 $819,748.07
EQUITY LIFESTYLE PROPERTIES US ELS 1,684.02 $107,710.06
ESSEX PROPERTY TRUST INC US ESS 221.57 $49,241.74
EVERGY INC US EVRG 12,086.58 $738,852.50
EXPEDIA GROUP INC 3.25000 02/15/2030 US 334,278.86 $269,304.23
EXTRA SPACE STORAGE INC US EXR 250.92 $44,523.40
FMC CORP US FMC 18,060.67 $2,147,413.57
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 139,057.82 $139,388.84
FREMF 2015-K43 B FLT 3.73191 02/25/2048 US 743,834.42 $708,003.10
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 42,634,374.03 $4,801.91
META PLATFORMS INC US META 6,214.51 $578,943.83
FHLM POOL G03332 6.00000 10/01/2037 US 1,559.57 $1,618.68
FHLM POOL G05900 6.00000 03/01/2040 US 3,203.53 $3,324.95
FHLM POOL G05906 6.00000 04/01/2040 US 18,073.7 $18,758.74
FHLM POOL G06995 6.00000 05/01/2040 US 9,330.89 $9,684.56
FHLM POOL G13331 5.50000 10/01/2023 US 91.86 $91.91
FHLM POOL G12988 6.00000 01/01/2023 US 3.81 $3.80
FHLM POOL G13078 6.00000 03/01/2023 US 16.67 $16.64
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 137,711.48 $131,848.67
FHLM POOL C91780 4.50000 07/01/2034 US 136,847.39 $131,956.40
FR SD1129 4.00000 08/01/2051 US 538,633.08 $497,750.69
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 618,790.64 $530,853.67
FHLM POOL SD8230 4.50000 06/01/2052 US 447,371.22 $419,796.93
FHLM POOL K91364 4.50000 11/01/2033 US 17,248.56 $17,020.94
FHLM POOL K92059 4.50000 09/01/2034 US 107,273.83 $103,424.34
FHLM POOL G60034 4.50000 02/01/2045 US 74,729.04 $72,223.67
FNR 2018-31 KP 3.50000 07/25/2047 US 12,521.51 $12,035.15
FHMS K030 X1 FLT 0.14022 04/25/2023 US 15,994,954.23 $5,395.90
FHMS K032 X1 FLT 0.06404 05/25/2023 US 11,271,251.47 $3,601.28
FHR 5189 CP 2.50000 06/25/2049 US 115,512.25 $97,902.22
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 32,495.8 $31,424.09
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 41,218.39 $39,859.00
FEDERAL NATL MTG ASSN AL8674 FLT 5.65600 01/01/2049 US 564,244.7 $581,564.56
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,530.93 $9,439.28
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,774.23 $32,211.70
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 319,464.91 $281,327.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 590,457.54 $529,105.04
FN DS2696 3.00000 12/01/2051 US 754,928.82 $646,609.85
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US .62 $0.62
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 9,517.99 $9,868.01
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 15,177.52 $14,611.48
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 106,359.99 $102,393.38
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 50,832.51 $46,684.05
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 650,716.57 $548,501.64
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 643,168.26 $565,731.43
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 635,696.87 $578,446.43
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 630,848.24 $582,367.28
FN MA4733 4.50000 09/01/2052 US 713,602.26 $669,585.53
FN MA4807 MTGE 5.50000 11/01/2052 US 515,917.86 $509,176.61
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 4,672.57 $4,844.40
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,216.01 $9,561.35
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 700.67 $706.90
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,438.84 $12,998.55
FIFTH THIRD BANCORP US FITB 363.54 $12,974.86
FLX 2021-1A A2 3.25000 11/27/2051 US 530,060.68 $452,596.24
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 432,055.23 $398,081.45
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 56,911.94 $48,282.39
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 242,198.18 $205,467.12
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 301,464.25 $255,699.38
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 88,457.86 $74,908.26
GENERAL DYNAMICS CORP US GD 99.3 $24,803.89
GENERAL MLS INC US GIS 224.83 $18,341.37
GENUINE PARTS CO US GPC 81.21 $14,443.12
GETTY REALTY CORP US GTY 1,609.77 $50,691.54
GILEAD SCIENCES INC US GILD 434.15 $34,063.61
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 74,988.9 $60,434.83
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 93,599.82 $87,351.89
GREENIDGE GEN HLD INC US 3,291.32 $19,254.20
GRUPO AEROPORTUARIO PAC-ADR MX PAC 133.76 $20,740.44
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 93.4 $21,802.24
AIRBUS SE FR AIR FP 593.75 $64,246.20
ADIDAS AG DE ADS GR 774.82 $75,633.92
HCA INC 4.12500 06/15/2029 US 481,159.77 $424,090.29
HDFC BANK LTD-ADR IN HDB 1,290.63 $80,418.92
L'OREAL FR OR FP 76.95 $24,162.46
HAWAII ST 2.68200 10/01/2038 US 118,900.72 $80,825.24
HEALTHCARE REALTY TRUST INC US HR 4,119.76 $83,754.71
HEINEKEN NV-SPN ADR NL HEINY 12,837.62 $535,842.33
HOME DEPOT INC US HD 217.25 $64,332.98
HONEYWELL INTERNATIONAL INC US HON 197.1 $40,211.68
HWIRE 2021-1 A2 2.31100 11/20/2051 US 382,543.41 $326,170.44
IDEXX LABORATORIES INC US IDXX 1,808.34 $650,423.18
KERRY GROUP PLC-A IE KYGA ID 713.2 $61,945.01
ILLINOIS TOOL WKS INC US ITW 115.54 $24,670.19
IMPRL 2021-NQM3 1.59500 11/25/2056 US 285,318.11 $226,203.09
INDEPENDENCE REALTY TRUST IN US IRT 1,773.97 $29,731.78
INTEL CORP US INTC 1,114.94 $31,697.81
INTERCONTINENTALEXCHANGE INC US ICE 19,647.51 $1,877,712.88
INTERNATIONAL FLVRS & FRAGRANCES US IFF 117.87 $11,505.46
INTUITIVE SURGICAL INC US ISRG 3,006.34 $740,972.88
INVITATION HOMES INC US INVH 3,035.17 $96,184.59
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 102,133.76 $95,339.56
JP MORGAN CHASE & CO US JPM 635.53 $80,000.57
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 101,894.69 $93,552.83
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 789,879.74 $714,206.02
JOHNSON & JOHNSON US JNJ 12,635.86 $2,198,260.93
KREF 2021-FL2 A 4.48214 02/15/2039 US 368,375.14 $353,577.62
KEYCORP US KEY 391.63 $6,998.43
KROGER CO US KR 303.78 $14,365.71
L3HARRIS TECHNOLOGIES INC US LHX 2,817.71 $694,480.87
BEIERSDORF AG DE BEI GR 1,063.6 $102,100.28
LENNAR CORP US LEN 113.62 $9,168.82
LIFE STORAGE INC US LSI 646.18 $71,473.92
LOCKHEED MARTIN CORP US LMT 76.74 $37,349.29
LULULEMON - ADR CA LULU 131.42 $43,242.69
MAGALLANES INC 4.05400 03/15/2029 US 814,011.63 $691,969.13
MARATHON PETROLEUM CORP US MPC 164.11 $18,646.14
MARRIOTT VACATIONS WORLD US VAC 209.51 $30,956.71
MASTERCARD INC-CLASS A US MA 5,985.5 $1,964,320.62
MCDONALDS CORP US MCD 142.27 $38,790.97
MERCADOLIBRE INC BR MELI 106.38 $95,918.16
MERCK & CO INC US MRK 587.88 $59,493.79
MICROSOFT CORP US MSFT 8,963.58 $2,080,714.94
MICROCHIP TECHNOLOGY INC US MCHP 189.79 $11,717.38
MID-AMERICA APARTMENT COMM US MAA 596.61 $93,936.40
MONDELEZ INTERNATIONAL INC US MDLZ 20,909.17 $1,285,495.99
MOODY'S CORPORATION US MCO 3,811.61 $1,009,579.87
MOTOROLA SOLUTIONS INC US MSI 71.56 $17,869.22
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 79,155.52 $69,869.75
NAVIENT CORP 6.75000 06/25/2025 US 153,926.87 $147,186.71
NESTLE S.A. - ADR CH NSRGY 8,206.48 $892,126.03
NETAPP INC US NTAP 128.44 $8,896.99
USRE 2021-1 A1 1.91000 10/20/2061 US 433,903.41 $363,407.25
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 98,623.86 $90,405.47
NRZT 2015-2A A1 3.75000 08/25/2055 US 154,204.62 $141,180.86
NRZT 2016-4A A1 3.75000 11/25/2056 US 297,660.71 $271,042.94
KEYENCE CORP JP 6861 JP 248.2 $93,587.36
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 175,969.15 $167,100.30
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 354,129.72 $299,918.44
NEWMONT GOLDCORP CORP US NEM 6,882.47 $291,265.96
NIKE INC CLASS B US NKE 5,552.4 $514,596.17
NORFOLK SOUTHN CORP US NSC 2,650.86 $604,582.29
NIKON CORP JP 7731 JP 4,460.96 $43,142.56
NORTHROP GRUMMAN CORP US NOC 1,516.8 $832,740.36
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 158,169.71 $15.82
NOVARTIS AG- REG CH NVS 17,473.27 $1,417,606.09
NUCOR CORP US NUE 114.96 $15,104.00
OBX 2022-INV1 A1 3.00000 12/25/2051 US 92,176.02 $73,634.31
OMNICOM GROUP US OMC 127.87 $9,302.81
SONY CORP FIRST SECTION JP 6758 JP 1,092.18 $73,650.72
TOKYO ELECTRON LTD JP 8035 JP 127.67 $33,588.81
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 339,935.99 $292,446.09
OXFIN 2020-1A A2 3.10100 02/15/2028 US 302,761.39 $299,149.87
OXFIN 2022-1A 3.60200 02/15/2030 US 463,079.95 $422,485.02
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,607.39 $66,971.93
PPG INDUSTRIES INC US PPG 77.45 $8,842.82
PACKAGING CORP OF AMERICA US PKG 56.1 $6,744.05
PARKER HANNIFIN CORP US PH 42.91 $12,469.75
DEUTSCHE BOERSE AG DE DB1 GR 616.73 $100,292.81
PAYPAL HOLDINGS INC US PYPL 8,296.46 $693,417.88
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 522,821.85 $489,934.00
PEAR 2022-1 A1 6.50000 10/15/2034 US 57,080.37 $56,978.02
PELORUS FUND REIT 7.00000 09/30/2026 US 122,583.58 $110,374.72
NESTLE SA-REGISTERED CH NESN SW 1,592.25 $173,330.94
PEPSICO INC 3.90000 07/18/2032 US 604,647.76 $559,309.76
PFIZER INC US PFE 906.42 $42,193.70
PIONEER NATURAL RESOURCES CO US PXD 67.8 $17,384.91
POPULAR INC 6.12500 09/14/2023 PR 137,987.56 $137,964.56
PROCTER & GAMBLE CO US PG 477.2 $64,263.85
PROLOGIS US PLD 3,842.83 $425,593.28
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 460,828.54 $352,944.66
PFMT 2021-2 A2A 2.00000 04/25/2051 US 276,478.91 $231,387.31
PUBLIC STORAGE INC US PSA 507.25 $157,120.40
QUALCOMM INC US QCOM 309.59 $36,426.56
QUALCOMM INC 4.25000 05/20/2032 US 156,971.01 $147,116.40
QUEST DIAGNOSTICS INC US DGX 68.66 $9,863.01
RCKT 2021-6 A1 2.50000 12/25/2051 US 522,079.16 $400,709.12
RADIUS GLOBAL INFRASTRUCTURE US RADI 11,385.45 $106,453.92
REGIONS FINANCIAL CORP. US RF 510.5 $11,205.38
REPUBLIC SERVICES INC US RSG 130.01 $17,241.46
RESTAURANT BRANDS INTERN CA QSR 983.36 $58,391.98
REXFORD INDUSTRIAL REALITY IN US REXR 1,950.74 $107,837.02
GETINGE AB-B SHS SE GETIB SS 4,904.54 $99,527.77
ROSS STORES INC US ROST 120.35 $11,516.41
HEINEKEN NV NL HEIA NA 1,136.52 $94,938.44
RYANAIR HOLDINGS - ADR IE RYAAY 712.9 $49,111.88
SBA TOWER TRUST 1.88400 01/15/2026 US 123,436.29 $107,981.64
S&P GLOBAL INC US SPGI 1,180.38 $379,195.86
SBA COMMUNICATIONS CORP US SBAC 5,170.63 $1,395,553.12
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 292,231.29 $238,623.10
SMB 2020-BA A1A 1.29000 07/15/2053 US 335,177.65 $293,288.80
SALESFORCE INC US CRM 7,698.95 $1,251,772.87
SEA LTD - ADR SG SE 736.89 $36,608.67
SEAGEN INC US SGEN 3,590.92 $456,621.94
SEMT 2013-6 A2 3.00000 05/25/2043 US 124,894.12 $107,560.96
SEMT 2013-7 A2 3.00000 06/25/2043 US 53,528.47 $45,949.40
SEMT 2013-8 A1 3.00000 06/25/2043 US 62,828.45 $54,451.67
SEMT 2013-2 1.87400 02/25/2043 US 51,646.74 $42,980.84
SERVICENOW INC US NOW 2,940.46 $1,237,170.91
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,058,847.09 $803,774.25
SKYWORKS SOLUTIONS INC US SWKS 67.87 $5,837.72
JM SMUCKER CO/THE-NEW COM WI US SJM 60 $9,039.76
SNOWFLAKE INC-CLASS A US SNOW 3,251.92 $521,282.07
SOFI 2017-F A2FX 2.84000 01/25/2041 US 21,519.77 $20,551.44
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 99,628.17 $95,582.49
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 169,091.56 $154,278.12
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 740,330.14 $622,946.98
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 591,881.04 $576,913.95
STANLEY BLACK & DECKER INC US SWK 63.62 $4,993.30
SRPT 2014-STAR A FLTG RATE 4.88300 11/15/2027 US 578,431.92 $405,540.91
STEEL DYNAMICS INC US STLD 112.13 $10,546.12
SUN COMMUNITIES US SUI 986.16 $132,983.21
SCML 2019-SBC8 2.86000 04/25/2041 US 79,493.87 $71,811.66
SYNCHRONOSS TECH US 6,118.31 $116,370.33
SYNERGY ONE LENDING 5.50000 10/14/2026 US 173,076.95 $145,627.35
TJX COMPANIES INC US TJX 310.57 $22,391.75
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,493.82 $91,944.84
TARGET CORP US TGT 110.35 $18,125.71
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,336,962.72 $1,125,704.56
TERRENO REALTY CORP US TRNO 1,476.8 $84,384.56
TEXAS INSTRUMENTS INC US TXN 181.5 $29,154.17
THERMO FISHER SCIENTIFIC INC US TMO 1,216.52 $625,255.13
3M CO US MMM 186.89 $23,508.70
TPMT 2016-5 A1 2.50000 10/25/2056 US 114,993.35 $113,267.64
TPMT 2017-1 A1 2.75000 10/25/2056 US 59,166.94 $58,055.87
TPMT 2019-HY1 A1 4.58557 10/25/2048 US 129,600.78 $127,236.18
TRACTOR SUPPLY COMPANY US TSCO 39.29 $8,635.08
TRAVELLERS COS INC US TRV 102.27 $18,864.51
TAH 2017-SFR2 A 2.92800 01/17/2036 US 303,520.95 $292,508.69
TCF 2021-1A 1.86000 03/20/2046 US 399,213.41 $332,008.69
TYSON FOODS INC -CL A US TSN 166.59 $11,386.72
UDR INC US UDR 3,048.44 $121,206.00
U.S. BANCORP US USB 531.41 $22,558.53
UNILEVER PLC - ADR GB UL 30,627.36 $1,393,851.24
UNION PAC CORP US UNP 182.19 $35,917.85
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 137,254.21 $115,229.81
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,340.06 $20,903.04
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 85,111.46 $82,011.30
UNITED PARCEL SERVICE US UPS 185.96 $31,197.81
US TREASURY N/B 3.00000 05/15/2047 US 3,615,743.68 $2,832,709.19
TREASURY BOND 2.37500 02/15/2042 US 7,062,577.27 $5,136,921.44
TREASURY BOND 2.25000 11/15/2027 US 4,819,232.46 $4,377,971.49
US TREASURY N/B 3.12500 11/15/2028 US 7,239,988.33 $6,801,064.04
US TREASURY N/B 2.25000 11/15/2025 US 1,064,905.6 $998,432.20
US TREASURY N/B 2.00000 11/15/2026 US 3,457,458.04 $3,156,010.92
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,946,052.25 $2,901,976.54
US TREASURY N/B 1.37500 11/15/2031 US 3,776,069.57 $3,009,645.45
VF CORP US VFC 158.93 $4,489.82
VENTAS INC US VTR 1,142.75 $44,715.76
VERTEX PHARMACEUTICALS INC US VRTX 2,819.08 $879,551.52
PARAMOUNT GLOBAL CLASS B US PARA 263.4 $4,825.53
VISA INC - CLASS A SHARES US V 7,812.68 $1,618,475.37
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 148,677.4 $141,596.00
VISTRA OPERATIONS 4.87500 05/13/2024 US 521,613.17 $507,561.20
WAL MART STORES US WMT 512.63 $72,963.13
WALGREENS BOOTS ALLIANCE INC US WBA 293.55 $10,714.41
WASTE MANAGEMENT INC US WM 145.68 $23,071.06
WELLTOWER INC. US WELL 1,319.42 $80,537.48
WIN 2015-1 A1 3.50000 01/20/2045 US 31,590.07 $27,960.57
ZOETIS INC US ZTS 1,718.79 $259,159.60
ADMIRAL GROUP PLC GB ADM LN 4,596.59 $106,299.20
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,815.56 $22,452.85
UBISOFT ENTERTAINMENT FR UBI FP 1,805.28 $49,529.45
DANONE FR BN FP 901.84 $44,820.89
AIR LIQUIDE FR AI FP 918.38 $120,136.84
BRENNTAG AG DE BNR GR 1,146.8 $69,583.53
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 602,660.76 $26,774.65
KEYWORDS STUDIOS PLC IE KWS LN 922.99 $25,523.48
HELIOS TOWERS PLC GB HTWS LN 28,351.45 $40,735.22
AVANZA BANK HOLDING AB SE AZA SS 4,356.16 $86,892.53
AMERICAN TANKER INC 7.75000 07/02/2025 US 164,565.8 $153,239.93
SOFTWAREONE HOLDING AG CH SWON SW 5,911.17 $66,525.62
TENCENT HOLDINGS LTD CN 700 HK 1,687.96 $44,354.16
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,323.19 $47,853.97
SEASPAN CORP 6.50000 02/05/2024 MH 99,381.56 $98,263.57
PETROTAL CORP 12.00000 02/16/2024 CA 128,248.18 $129,729.64
IMCD NV NL IMCD NA 334.05 $43,324.08
FINECOBANK SPA IT FBK IM 9,452.22 $127,374.28
ALLFUNDS GROUP PLC GB ALLFG NA 7,382.7 $46,428.22
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 170,222.93 $169,022.68
ROTORK PLC GB ROR LN 25,448.53 $74,591.68
AUTO TRADER GROUP PLC GB AUTO LN 18,603.05 $111,353.82
CELLNEX TELECOM SA ES CLNX SM 2,665.85 $87,254.10
ASSA ABLOY AB-B SE ASSAB SS 4,119.61 $83,183.43
CLEANAWAY WASTE MANAGEMENT AU CWY AU 54,505.67 $94,280.17
INTERMEDIATE CAPITAL GROUP GB ICP LN 5,196.37 $63,275.03
ADYEN NV NL ADYEN NA 70.5 $100,641.86
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,382.01 $47,734.50
BUNGE LIMITED US BG 82.98 $8,189.99
EATON CORP PLC US ETN 158.16 $23,734.62
JOHNSON CONTROLS INTERNATIONAL US JCI 286.03 $16,543.86
LINDE PLC GB LIN 241.14 $71,702.42
MEDTRONIC INC IE MDT 8,812.86 $769,715.01
ROYALTY PHARMA PLC- CL A US RPRX 220.23 $9,320.01
STONECO LTD-A BR STNE 5,807.54 $60,979.15
TRANE TECHNOLOGIES IE TT 75.82 $12,102.42
ALCON INC CH ALC 10,933.48 $663,443.46
CHUBB LTD CH CB 140.43 $30,176.20
GARMIN LTD CH GRMN 99.51 $8,760.78
TE CONNECTIVITY LIMITED CH TEL 104.19 $12,734.55
LYONDELLBASELL INDU-CL A US LYB 108.23 $8,273.93
PLAYA HOTELS AND RESORTS US PLYA 3,504.85 $21,624.94
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 67,312.29 $63,582.72

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

$21.52

Daily $ Change

$0.03

Daily % Change

0.14%

as of 11/25/2022

CUSIP

302027628

Inception Date

05/31/2007

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a moderately growth-oriented mix of investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 36% - 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 13% - 47%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2030
  • Who have some time to pursue growth and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 10/31/2022

YTD

-18.21%

1 Year

-17.49%

3 Year

3.54%

5 Year

4.60%

10 Year

6.39%

Inception
(01/01/2000)

6.55%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
Net 0.69%*

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

Top Ten Investments

As of 10/31/2022

TREASURY NOTES 14.30%
TREASURY BONDS 10.47%
GOVERNMENT AGENCY 6.57%
AMAZON.COM INC 2.05%
JOHNSON & JOHNSON 1.86%
FMC CORP 1.82%
MICROSOFT CORP 1.76%
MASTERCARD INC-CLASS A 1.67%
INTERCONTINENTALEXCHANGE INC 1.59%
ALPHABET INC-CL A 1.45%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2022

Bonds
49.64%
Stocks
45.25%
Cash
5.11%

Detailed Asset Class Allocation

As of 10/31/2022

International Equities
10.96%
Small Capitalization
0.67%
Mid Capitalization
4.05%
Large Capitalization
29.57%
Long Term Fixed Income
15.24%
Intermediate Term Fixed Income
30.41%
Short Term Fixed Income
3.99%
Cash
5.11%

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

October Fund Holdings

As of 10/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 319.72 $31,632.94
ACTIVISION INC US ATVI 8,704.66 $633,699.15
ADIDAS AG-SPONSORED ADR DE ADDYY 6,861.8 $334,581.36
ADMIRAL GROUP PLC GB AMIGY 24,140.66 $557,407.93
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 279,237.19 $225,530.18
ADYEN NV UNSPON ADR NL ADYEY 44,475.78 $639,116.95
AGREE REALTY CORP US ADC 683.01 $46,922.74
AIR LIQUIDE-ADR FR AIQUY 36,068.87 $942,840.14
AIR LEASE CORP 3.62500 04/01/2027 US 334,966.91 $295,061.98
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 46,204.06 $45,726.17
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 679,260.29 $462,203.58
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 195,170.14 $140,312.93
ALLSTATE CORPORATION US ALL 134.61 $16,994.98
ALPHABET INC-CL A US GOOGL 18,061.54 $1,706,996.45
AMAZON.COM INC US AMZN 23,563.7 $2,413,865.15
AMAZON.COM INC 3.30000 04/13/2027 US 662,136.18 $621,132.70
DIAGEO PLC GB DGE LN 2,921.53 $120,228.42
BAE SYSTEMS PLC GB BA/ LN 11,433.44 $106,943.48
AMERICAN HOMES 4 RENT- A US AMH 3,646.56 $116,471.21
AMERICAN TOWER REIT INC US AMT 328.29 $68,019.09
ANALOG DEVICES INC US ADI 184.4 $26,298.96
APPLE HOSPITALITY REIT INC US APLE 4,788.58 $81,980.54
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 47,881.56 $48,109.83
ARCHER-DANIELS-MIDLAND CO US ADM 210.64 $20,427.69
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 296,004.16 $257,885.14
AUTOMATIC DATA PROCESSING US ADP 124.19 $30,016.44
AVALONBAY COMMUNITIES INC US AVB 502.29 $87,961.50
BAE SYSTEMS PLC -SPON ADR GB BAESY 17,008.67 $635,103.60
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 303,037.39 $280,313.61
BANK OF AMERICA CORP 2.68700 04/22/2032 US 552,841.92 $426,151.78
BARRICK GOLD CORP CA GOLD 21,009.28 $315,769.48
BAXTER INTERNATIONAL INC US BAX 162.55 $8,834.74
BEST BUY INC US BBY 130.85 $8,951.45
BIOMARIN PHARMACEUTICAL INC US BMRN 9,496.02 $822,640.15
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 288,486.9 $247,493.81
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,351.87 $70,702.44
BRANDYWINE REALTY TRUST US BDN 3,692.86 $24,225.14
BABS 2021-RM2 A 1.75000 10/25/2061 US 216,854.92 $186,685.52
BRISTOL MYERS SQUIBB CO US BMY 545.61 $42,268.63
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.84 $9,429.36
JONAH ENERGY PARENT LLC US 1,981.07 $65,731.77
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 309,775.93 $272,232.17
SORT 2020-1 A2 1.99000 07/15/2060 US 254,348.2 $207,516.74
C.H. ROBINSON WORLDWIDE INC US CHRW 85.46 $8,351.21
CIM 2019-INV1 A1 4.00000 02/25/2049 US 14,706.11 $14,071.02
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 256,861.65 $246,565.16
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 142,700.92 $134,818.92
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 86,082.85 $73,521.33
COTERRA ENERGY INC US CTRA 318.37 $9,910.79
CAMDEN PROPERTY TRUST US CPT 564.63 $65,242.47
CAMPBELL SOUP CO US CPB 171.08 $9,051.66
CANADIAN NATIONAL RAILWAY CO CA CNI 6,059.38 $717,672.79
CARETRUST REIT INC US CTRE 3,990.23 $74,537.53
CATERPILLAR INC US CAT 168.09 $36,383.67
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,525 $57,915.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 316,915.09 $311,565.81
CHARTER COMMUNICATIONS INC-A US CHTR 2,113.84 $777,088.09
CHEVRON CORP US CVX 308.3 $55,770.96
CINCINNATI FINANCIAL CORP US CINF 85.89 $8,873.76
CISCO SYSTEMS INC US CSCO 1,049.93 $47,698.16
CITIGROUP INC US C 641.21 $29,405.68
CITIGROUP INC 1.46200 06/09/2027 US 529,423.54 $449,598.11
CLARK CNTY NV 1.51000 11/01/2028 US 145,554.94 $117,551.33
COCA COLA CO/THE US KO 18,091.7 $1,082,788.35
COLGATE-PALMOLIVE CO US CL 293.14 $21,645.47
COMCAST CORP-CL A US CMCSA 1,135.39 $36,037.18
COMMUNITY HEALTHCARE TRUST I US CHCT 1,237.45 $42,815.66
CONAGRA BRAND INC. US CAG 260.1 $9,545.56
CONOCOPHILLIPS US COP 286.38 $36,109.94
CONTROLADORA VUELA CIA DE AV MX VLRS 4,080.26 $34,192.55
COPART INC US CPRT 5,406.29 $621,831.06
COUSINS PROPERTIES INC US CUZ 2,757.15 $65,509.77
CAALT 2020-1A 2.01000 02/15/2029 US 21,806.06 $21,771.99
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 139,133.4 $126,933.78
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 411,643.59 $342,572.81
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 47,823.71 $40,163.57
CUMMINS INC US CMI 68.65 $16,786.18
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 75,631.49 $63,820.94
KIMBERLY CLARK DE MEXICO S.A.B. MX 79,928.34 $125,945.72
DEVON ENERGY CORPORATION US DVN 208.94 $16,161.19
DIAMONDBACK ENERGY INC US FANG 67.8 $10,652.25
DIGITAL REALTY TRUST INC US DLR 859.61 $86,176.21
DOLLAR TREE STORES INC US DLTR 4,512.04 $715,157.85
DOW INC US DOW 223.12 $10,428.72
DREYFUS GVT CSH MANAGEMENT US 6,354,226.15 $6,354,226.15
EOG RESOURCES INC US EOG 156.67 $21,388.08
EASTMAN CHEM CO US EMN 80.14 $6,155.54
EBAY INC US EBAY 201.49 $8,027.26
ELECTRONIC ARTS US EA 5,176.22 $651,997.28
EMERSON ELEC CO US EMR 228.3 $19,770.56
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 742,227.66 $679,728.61
EQUINIX INC US EQIX 1,447.19 $819,748.07
EQUITY LIFESTYLE PROPERTIES US ELS 1,684.02 $107,710.06
ESSEX PROPERTY TRUST INC US ESS 221.57 $49,241.74
EVERGY INC US EVRG 12,086.58 $738,852.50
EXPEDIA GROUP INC 3.25000 02/15/2030 US 334,278.86 $269,304.23
EXTRA SPACE STORAGE INC US EXR 250.92 $44,523.40
FMC CORP US FMC 18,060.67 $2,147,413.57
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 139,057.82 $139,388.84
FREMF 2015-K43 B FLT 3.73191 02/25/2048 US 743,834.42 $708,003.10
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 42,634,374.03 $4,801.91
META PLATFORMS INC US META 6,214.51 $578,943.83
FHLM POOL G03332 6.00000 10/01/2037 US 1,559.57 $1,618.68
FHLM POOL G05900 6.00000 03/01/2040 US 3,203.53 $3,324.95
FHLM POOL G05906 6.00000 04/01/2040 US 18,073.7 $18,758.74
FHLM POOL G06995 6.00000 05/01/2040 US 9,330.89 $9,684.56
FHLM POOL G13331 5.50000 10/01/2023 US 91.86 $91.91
FHLM POOL G12988 6.00000 01/01/2023 US 3.81 $3.80
FHLM POOL G13078 6.00000 03/01/2023 US 16.67 $16.64
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 137,711.48 $131,848.67
FHLM POOL C91780 4.50000 07/01/2034 US 136,847.39 $131,956.40
FR SD1129 4.00000 08/01/2051 US 538,633.08 $497,750.69
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 618,790.64 $530,853.67
FHLM POOL SD8230 4.50000 06/01/2052 US 447,371.22 $419,796.93
FHLM POOL K91364 4.50000 11/01/2033 US 17,248.56 $17,020.94
FHLM POOL K92059 4.50000 09/01/2034 US 107,273.83 $103,424.34
FHLM POOL G60034 4.50000 02/01/2045 US 74,729.04 $72,223.67
FNR 2018-31 KP 3.50000 07/25/2047 US 12,521.51 $12,035.15
FHMS K030 X1 FLT 0.14022 04/25/2023 US 15,994,954.23 $5,395.90
FHMS K032 X1 FLT 0.06404 05/25/2023 US 11,271,251.47 $3,601.28
FHR 5189 CP 2.50000 06/25/2049 US 115,512.25 $97,902.22
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 32,495.8 $31,424.09
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 41,218.39 $39,859.00
FEDERAL NATL MTG ASSN AL8674 FLT 5.65600 01/01/2049 US 564,244.7 $581,564.56
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,530.93 $9,439.28
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,774.23 $32,211.70
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 319,464.91 $281,327.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 590,457.54 $529,105.04
FN DS2696 3.00000 12/01/2051 US 754,928.82 $646,609.85
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US .62 $0.62
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 9,517.99 $9,868.01
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 15,177.52 $14,611.48
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 106,359.99 $102,393.38
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 50,832.51 $46,684.05
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 650,716.57 $548,501.64
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 643,168.26 $565,731.43
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 635,696.87 $578,446.43
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 630,848.24 $582,367.28
FN MA4733 4.50000 09/01/2052 US 713,602.26 $669,585.53
FN MA4807 MTGE 5.50000 11/01/2052 US 515,917.86 $509,176.61
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 4,672.57 $4,844.40
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,216.01 $9,561.35
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 700.67 $706.90
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,438.84 $12,998.55
FIFTH THIRD BANCORP US FITB 363.54 $12,974.86
FLX 2021-1A A2 3.25000 11/27/2051 US 530,060.68 $452,596.24
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 432,055.23 $398,081.45
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 56,911.94 $48,282.39
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 242,198.18 $205,467.12
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 301,464.25 $255,699.38
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 88,457.86 $74,908.26
GENERAL DYNAMICS CORP US GD 99.3 $24,803.89
GENERAL MLS INC US GIS 224.83 $18,341.37
GENUINE PARTS CO US GPC 81.21 $14,443.12
GETTY REALTY CORP US GTY 1,609.77 $50,691.54
GILEAD SCIENCES INC US GILD 434.15 $34,063.61
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 74,988.9 $60,434.83
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 93,599.82 $87,351.89
GREENIDGE GEN HLD INC US 3,291.32 $19,254.20
GRUPO AEROPORTUARIO PAC-ADR MX PAC 133.76 $20,740.44
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 93.4 $21,802.24
AIRBUS SE FR AIR FP 593.75 $64,246.20
ADIDAS AG DE ADS GR 774.82 $75,633.92
HCA INC 4.12500 06/15/2029 US 481,159.77 $424,090.29
HDFC BANK LTD-ADR IN HDB 1,290.63 $80,418.92
L'OREAL FR OR FP 76.95 $24,162.46
HAWAII ST 2.68200 10/01/2038 US 118,900.72 $80,825.24
HEALTHCARE REALTY TRUST INC US HR 4,119.76 $83,754.71
HEINEKEN NV-SPN ADR NL HEINY 12,837.62 $535,842.33
HOME DEPOT INC US HD 217.25 $64,332.98
HONEYWELL INTERNATIONAL INC US HON 197.1 $40,211.68
HWIRE 2021-1 A2 2.31100 11/20/2051 US 382,543.41 $326,170.44
IDEXX LABORATORIES INC US IDXX 1,808.34 $650,423.18
KERRY GROUP PLC-A IE KYGA ID 713.2 $61,945.01
ILLINOIS TOOL WKS INC US ITW 115.54 $24,670.19
IMPRL 2021-NQM3 1.59500 11/25/2056 US 285,318.11 $226,203.09
INDEPENDENCE REALTY TRUST IN US IRT 1,773.97 $29,731.78
INTEL CORP US INTC 1,114.94 $31,697.81
INTERCONTINENTALEXCHANGE INC US ICE 19,647.51 $1,877,712.88
INTERNATIONAL FLVRS & FRAGRANCES US IFF 117.87 $11,505.46
INTUITIVE SURGICAL INC US ISRG 3,006.34 $740,972.88
INVITATION HOMES INC US INVH 3,035.17 $96,184.59
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 102,133.76 $95,339.56
JP MORGAN CHASE & CO US JPM 635.53 $80,000.57
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 101,894.69 $93,552.83
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 789,879.74 $714,206.02
JOHNSON & JOHNSON US JNJ 12,635.86 $2,198,260.93
KREF 2021-FL2 A 4.48214 02/15/2039 US 368,375.14 $353,577.62
KEYCORP US KEY 391.63 $6,998.43
KROGER CO US KR 303.78 $14,365.71
L3HARRIS TECHNOLOGIES INC US LHX 2,817.71 $694,480.87
BEIERSDORF AG DE BEI GR 1,063.6 $102,100.28
LENNAR CORP US LEN 113.62 $9,168.82
LIFE STORAGE INC US LSI 646.18 $71,473.92
LOCKHEED MARTIN CORP US LMT 76.74 $37,349.29
LULULEMON - ADR CA LULU 131.42 $43,242.69
MAGALLANES INC 4.05400 03/15/2029 US 814,011.63 $691,969.13
MARATHON PETROLEUM CORP US MPC 164.11 $18,646.14
MARRIOTT VACATIONS WORLD US VAC 209.51 $30,956.71
MASTERCARD INC-CLASS A US MA 5,985.5 $1,964,320.62
MCDONALDS CORP US MCD 142.27 $38,790.97
MERCADOLIBRE INC BR MELI 106.38 $95,918.16
MERCK & CO INC US MRK 587.88 $59,493.79
MICROSOFT CORP US MSFT 8,963.58 $2,080,714.94
MICROCHIP TECHNOLOGY INC US MCHP 189.79 $11,717.38
MID-AMERICA APARTMENT COMM US MAA 596.61 $93,936.40
MONDELEZ INTERNATIONAL INC US MDLZ 20,909.17 $1,285,495.99
MOODY'S CORPORATION US MCO 3,811.61 $1,009,579.87
MOTOROLA SOLUTIONS INC US MSI 71.56 $17,869.22
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 79,155.52 $69,869.75
NAVIENT CORP 6.75000 06/25/2025 US 153,926.87 $147,186.71
NESTLE S.A. - ADR CH NSRGY 8,206.48 $892,126.03
NETAPP INC US NTAP 128.44 $8,896.99
USRE 2021-1 A1 1.91000 10/20/2061 US 433,903.41 $363,407.25
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 98,623.86 $90,405.47
NRZT 2015-2A A1 3.75000 08/25/2055 US 154,204.62 $141,180.86
NRZT 2016-4A A1 3.75000 11/25/2056 US 297,660.71 $271,042.94
KEYENCE CORP JP 6861 JP 248.2 $93,587.36
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 175,969.15 $167,100.30
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 354,129.72 $299,918.44
NEWMONT GOLDCORP CORP US NEM 6,882.47 $291,265.96
NIKE INC CLASS B US NKE 5,552.4 $514,596.17
NORFOLK SOUTHN CORP US NSC 2,650.86 $604,582.29
NIKON CORP JP 7731 JP 4,460.96 $43,142.56
NORTHROP GRUMMAN CORP US NOC 1,516.8 $832,740.36
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 158,169.71 $15.82
NOVARTIS AG- REG CH NVS 17,473.27 $1,417,606.09
NUCOR CORP US NUE 114.96 $15,104.00
OBX 2022-INV1 A1 3.00000 12/25/2051 US 92,176.02 $73,634.31
OMNICOM GROUP US OMC 127.87 $9,302.81
SONY CORP FIRST SECTION JP 6758 JP 1,092.18 $73,650.72
TOKYO ELECTRON LTD JP 8035 JP 127.67 $33,588.81
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 339,935.99 $292,446.09
OXFIN 2020-1A A2 3.10100 02/15/2028 US 302,761.39 $299,149.87
OXFIN 2022-1A 3.60200 02/15/2030 US 463,079.95 $422,485.02
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,607.39 $66,971.93
PPG INDUSTRIES INC US PPG 77.45 $8,842.82
PACKAGING CORP OF AMERICA US PKG 56.1 $6,744.05
PARKER HANNIFIN CORP US PH 42.91 $12,469.75
DEUTSCHE BOERSE AG DE DB1 GR 616.73 $100,292.81
PAYPAL HOLDINGS INC US PYPL 8,296.46 $693,417.88
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 522,821.85 $489,934.00
PEAR 2022-1 A1 6.50000 10/15/2034 US 57,080.37 $56,978.02
PELORUS FUND REIT 7.00000 09/30/2026 US 122,583.58 $110,374.72
NESTLE SA-REGISTERED CH NESN SW 1,592.25 $173,330.94
PEPSICO INC 3.90000 07/18/2032 US 604,647.76 $559,309.76
PFIZER INC US PFE 906.42 $42,193.70
PIONEER NATURAL RESOURCES CO US PXD 67.8 $17,384.91
POPULAR INC 6.12500 09/14/2023 PR 137,987.56 $137,964.56
PROCTER & GAMBLE CO US PG 477.2 $64,263.85
PROLOGIS US PLD 3,842.83 $425,593.28
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 460,828.54 $352,944.66
PFMT 2021-2 A2A 2.00000 04/25/2051 US 276,478.91 $231,387.31
PUBLIC STORAGE INC US PSA 507.25 $157,120.40
QUALCOMM INC US QCOM 309.59 $36,426.56
QUALCOMM INC 4.25000 05/20/2032 US 156,971.01 $147,116.40
QUEST DIAGNOSTICS INC US DGX 68.66 $9,863.01
RCKT 2021-6 A1 2.50000 12/25/2051 US 522,079.16 $400,709.12
RADIUS GLOBAL INFRASTRUCTURE US RADI 11,385.45 $106,453.92
REGIONS FINANCIAL CORP. US RF 510.5 $11,205.38
REPUBLIC SERVICES INC US RSG 130.01 $17,241.46
RESTAURANT BRANDS INTERN CA QSR 983.36 $58,391.98
REXFORD INDUSTRIAL REALITY IN US REXR 1,950.74 $107,837.02
GETINGE AB-B SHS SE GETIB SS 4,904.54 $99,527.77
ROSS STORES INC US ROST 120.35 $11,516.41
HEINEKEN NV NL HEIA NA 1,136.52 $94,938.44
RYANAIR HOLDINGS - ADR IE RYAAY 712.9 $49,111.88
SBA TOWER TRUST 1.88400 01/15/2026 US 123,436.29 $107,981.64
S&P GLOBAL INC US SPGI 1,180.38 $379,195.86
SBA COMMUNICATIONS CORP US SBAC 5,170.63 $1,395,553.12
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 292,231.29 $238,623.10
SMB 2020-BA A1A 1.29000 07/15/2053 US 335,177.65 $293,288.80
SALESFORCE INC US CRM 7,698.95 $1,251,772.87
SEA LTD - ADR SG SE 736.89 $36,608.67
SEAGEN INC US SGEN 3,590.92 $456,621.94
SEMT 2013-6 A2 3.00000 05/25/2043 US 124,894.12 $107,560.96
SEMT 2013-7 A2 3.00000 06/25/2043 US 53,528.47 $45,949.40
SEMT 2013-8 A1 3.00000 06/25/2043 US 62,828.45 $54,451.67
SEMT 2013-2 1.87400 02/25/2043 US 51,646.74 $42,980.84
SERVICENOW INC US NOW 2,940.46 $1,237,170.91
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,058,847.09 $803,774.25
SKYWORKS SOLUTIONS INC US SWKS 67.87 $5,837.72
JM SMUCKER CO/THE-NEW COM WI US SJM 60 $9,039.76
SNOWFLAKE INC-CLASS A US SNOW 3,251.92 $521,282.07
SOFI 2017-F A2FX 2.84000 01/25/2041 US 21,519.77 $20,551.44
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 99,628.17 $95,582.49
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 169,091.56 $154,278.12
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 740,330.14 $622,946.98
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 591,881.04 $576,913.95
STANLEY BLACK & DECKER INC US SWK 63.62 $4,993.30
SRPT 2014-STAR A FLTG RATE 4.88300 11/15/2027 US 578,431.92 $405,540.91
STEEL DYNAMICS INC US STLD 112.13 $10,546.12
SUN COMMUNITIES US SUI 986.16 $132,983.21
SCML 2019-SBC8 2.86000 04/25/2041 US 79,493.87 $71,811.66
SYNCHRONOSS TECH US 6,118.31 $116,370.33
SYNERGY ONE LENDING 5.50000 10/14/2026 US 173,076.95 $145,627.35
TJX COMPANIES INC US TJX 310.57 $22,391.75
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,493.82 $91,944.84
TARGET CORP US TGT 110.35 $18,125.71
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,336,962.72 $1,125,704.56
TERRENO REALTY CORP US TRNO 1,476.8 $84,384.56
TEXAS INSTRUMENTS INC US TXN 181.5 $29,154.17
THERMO FISHER SCIENTIFIC INC US TMO 1,216.52 $625,255.13
3M CO US MMM 186.89 $23,508.70
TPMT 2016-5 A1 2.50000 10/25/2056 US 114,993.35 $113,267.64
TPMT 2017-1 A1 2.75000 10/25/2056 US 59,166.94 $58,055.87
TPMT 2019-HY1 A1 4.58557 10/25/2048 US 129,600.78 $127,236.18
TRACTOR SUPPLY COMPANY US TSCO 39.29 $8,635.08
TRAVELLERS COS INC US TRV 102.27 $18,864.51
TAH 2017-SFR2 A 2.92800 01/17/2036 US 303,520.95 $292,508.69
TCF 2021-1A 1.86000 03/20/2046 US 399,213.41 $332,008.69
TYSON FOODS INC -CL A US TSN 166.59 $11,386.72
UDR INC US UDR 3,048.44 $121,206.00
U.S. BANCORP US USB 531.41 $22,558.53
UNILEVER PLC - ADR GB UL 30,627.36 $1,393,851.24
UNION PAC CORP US UNP 182.19 $35,917.85
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 137,254.21 $115,229.81
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,340.06 $20,903.04
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 85,111.46 $82,011.30
UNITED PARCEL SERVICE US UPS 185.96 $31,197.81
US TREASURY N/B 3.00000 05/15/2047 US 3,615,743.68 $2,832,709.19
TREASURY BOND 2.37500 02/15/2042 US 7,062,577.27 $5,136,921.44
TREASURY BOND 2.25000 11/15/2027 US 4,819,232.46 $4,377,971.49
US TREASURY N/B 3.12500 11/15/2028 US 7,239,988.33 $6,801,064.04
US TREASURY N/B 2.25000 11/15/2025 US 1,064,905.6 $998,432.20
US TREASURY N/B 2.00000 11/15/2026 US 3,457,458.04 $3,156,010.92
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,946,052.25 $2,901,976.54
US TREASURY N/B 1.37500 11/15/2031 US 3,776,069.57 $3,009,645.45
VF CORP US VFC 158.93 $4,489.82
VENTAS INC US VTR 1,142.75 $44,715.76
VERTEX PHARMACEUTICALS INC US VRTX 2,819.08 $879,551.52
PARAMOUNT GLOBAL CLASS B US PARA 263.4 $4,825.53
VISA INC - CLASS A SHARES US V 7,812.68 $1,618,475.37
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 148,677.4 $141,596.00
VISTRA OPERATIONS 4.87500 05/13/2024 US 521,613.17 $507,561.20
WAL MART STORES US WMT 512.63 $72,963.13
WALGREENS BOOTS ALLIANCE INC US WBA 293.55 $10,714.41
WASTE MANAGEMENT INC US WM 145.68 $23,071.06
WELLTOWER INC. US WELL 1,319.42 $80,537.48
WIN 2015-1 A1 3.50000 01/20/2045 US 31,590.07 $27,960.57
ZOETIS INC US ZTS 1,718.79 $259,159.60
ADMIRAL GROUP PLC GB ADM LN 4,596.59 $106,299.20
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,815.56 $22,452.85
UBISOFT ENTERTAINMENT FR UBI FP 1,805.28 $49,529.45
DANONE FR BN FP 901.84 $44,820.89
AIR LIQUIDE FR AI FP 918.38 $120,136.84
BRENNTAG AG DE BNR GR 1,146.8 $69,583.53
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 602,660.76 $26,774.65
KEYWORDS STUDIOS PLC IE KWS LN 922.99 $25,523.48
HELIOS TOWERS PLC GB HTWS LN 28,351.45 $40,735.22
AVANZA BANK HOLDING AB SE AZA SS 4,356.16 $86,892.53
AMERICAN TANKER INC 7.75000 07/02/2025 US 164,565.8 $153,239.93
SOFTWAREONE HOLDING AG CH SWON SW 5,911.17 $66,525.62
TENCENT HOLDINGS LTD CN 700 HK 1,687.96 $44,354.16
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,323.19 $47,853.97
SEASPAN CORP 6.50000 02/05/2024 MH 99,381.56 $98,263.57
PETROTAL CORP 12.00000 02/16/2024 CA 128,248.18 $129,729.64
IMCD NV NL IMCD NA 334.05 $43,324.08
FINECOBANK SPA IT FBK IM 9,452.22 $127,374.28
ALLFUNDS GROUP PLC GB ALLFG NA 7,382.7 $46,428.22
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 170,222.93 $169,022.68
ROTORK PLC GB ROR LN 25,448.53 $74,591.68
AUTO TRADER GROUP PLC GB AUTO LN 18,603.05 $111,353.82
CELLNEX TELECOM SA ES CLNX SM 2,665.85 $87,254.10
ASSA ABLOY AB-B SE ASSAB SS 4,119.61 $83,183.43
CLEANAWAY WASTE MANAGEMENT AU CWY AU 54,505.67 $94,280.17
INTERMEDIATE CAPITAL GROUP GB ICP LN 5,196.37 $63,275.03
ADYEN NV NL ADYEN NA 70.5 $100,641.86
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,382.01 $47,734.50
BUNGE LIMITED US BG 82.98 $8,189.99
EATON CORP PLC US ETN 158.16 $23,734.62
JOHNSON CONTROLS INTERNATIONAL US JCI 286.03 $16,543.86
LINDE PLC GB LIN 241.14 $71,702.42
MEDTRONIC INC IE MDT 8,812.86 $769,715.01
ROYALTY PHARMA PLC- CL A US RPRX 220.23 $9,320.01
STONECO LTD-A BR STNE 5,807.54 $60,979.15
TRANE TECHNOLOGIES IE TT 75.82 $12,102.42
ALCON INC CH ALC 10,933.48 $663,443.46
CHUBB LTD CH CB 140.43 $30,176.20
GARMIN LTD CH GRMN 99.51 $8,760.78
TE CONNECTIVITY LIMITED CH TEL 104.19 $12,734.55
LYONDELLBASELL INDU-CL A US LYB 108.23 $8,273.93
PLAYA HOTELS AND RESORTS US PLYA 3,504.85 $21,624.94
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 67,312.29 $63,582.72

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

A Word About Risk

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

About The Fund Manager

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


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