Collective Investment Trust

Retirement Target 2030 CIT

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a 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.

Learn more about our Glide Range SM

Daily Price

$30.53

Daily $ Change

$0.01

Daily % Change

0.03%

as of 09/22/2023

CUSIP

563821164

Inception Date

01/06/2005

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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

Performance

As of 08/31/2023

YTD

6.99%

1 Year

4.22%

3 Year

1.71%

5 Year

5.37%

10 Year

5.89%

Inception
(01/06/2005)

6.46%

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

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses.

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 08/31/2023

TREASURY NOTES 17.87%
GOVERNMENT AGENCY 9.32%
TREASURY BONDS 4.50%
AMAZON.COM INC 2.30%
MASTERCARD INC-CLASS A 1.95%
ALPHABET INC-CL A 1.83%
META PLATFORMS INC 1.73%
MICRON TECHNOLOGY INC 1.63%
TSY INFL IX N/B 0.12500 01/15/2031 1.60%
JOHNSON & JOHNSON 1.51%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2023

Bonds
50.93%
Stocks
45.39%
Cash
3.68%

Detailed Asset Class Allocation

As of 08/31/2023

International Equities
11.39%
Small Capitalization
0.43%
Mid Capitalization
4.41%
Large Capitalization
29.16%
Long Term Fixed Income
12.11%
Intermediate Term Fixed Income
37.60%
Short Term Fixed Income
1.22%
Cash
3.68%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 247.31 $26,381.07
ABBOTT LABORATORIES US ABT 494.05 $50,837.43
ADMIRAL GROUP PLC GB ADM LN 6,093.67 $191,975.08
ADMIRAL GROUP PLC ADR GB AMIGY 23,523.8 $741,117.39
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 385,106.35 $333,766.31
AGREE REALTY CORP US ADC 1,964.89 $121,469.50
AIR LIQUIDE FR AI FP 551.42 $99,627.66
AIRBUS SE FR AIR FP 683.55 $100,007.74
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 33,070.01 $33,272.96
ALCON INC CH ALC 9,915.66 $822,900.65
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 200,206.91 $160,520.01
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 838,383.09 $680,793.45
ALPHABET INC-CL A US GOOGL 17,641.89 $2,402,295.48
AMAZON.COM INC US AMZN 21,946.04 $3,028,773.64
AMAZON.COM INC 3.30000 04/13/2027 US 677,583.82 $644,800.85
AMERICAN HOMES 4 RENT- A US AMH 1,222.82 $44,070.55
AMERICAN TOWER REIT INC US AMT 552.35 $100,152.19
AMERICOLD REALTY TRUST US COLD 4,193.26 $141,103.03
ANALOG DEVICES INC US ADI 227.84 $41,416.08
APARTMENT INCOME REIT CO US AIRC 1,040.34 $35,433.95
APPLIED MATERIALS INC US AMAT 4,284.03 $654,428.85
ARCHER-DANIELS-MIDLAND CO US ADM 276.66 $21,939.01
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 419,269.61 $387,498.33
ASTRAZENECA GB AZN 1,581.46 $107,254.68
ATLASSIAN CORP PLC-CLASS A AU TEAM 370.03 $75,508.17
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 11,873.17 $55,281.32
AUTO TRADER GROUP PLC GB AUTO LN 16,625.55 $127,492.45
AVALONBAY COMMUNITIES INC US AVB 638.83 $117,429.44
AVANZA BANK HOLDING AB SE AZA SS 4,194.05 $80,975.83
BABS 2021-RM2 A 1.75000 10/25/2061 US 191,035.21 $163,939.04
BAE SYSTEMS PLC GB BA/ LN 13,320.08 $169,534.88
BAE SYSTEMS PLC -SPON ADR GB BAESY 12,238.13 $633,568.04
BANK OF AMERICA CORP US BAC 1,842.54 $52,825.49
BANK OF AMERICA CORP 2.68700 04/22/2032 US 644,357.35 $526,936.74
BAXTER INTERNATIONAL INC US BAX 273.32 $11,096.80
BEIERSDORF AG DE BEI GR 906.84 $118,737.25
BIOMARIN PHARMACEUTICAL INC US BMRN 9,916.13 $906,135.70
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 310,240.35 $302,957.67
BRISTOL MYERS SQUIBB CO US BMY 729.41 $44,968.12
BROADCOM INC US AVGO 88.46 $81,642.46
BROADRIDGE FINANCIAL SOLUTIONS US BR 83.87 $15,618.14
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 95,614.48 $83,184.60
BUNGE LIMITED US BG 108.49 $12,402.97
C.H. ROBINSON WORLDWIDE INC US CHRW 108.91 $9,848.80
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 195,813.95 $185,307.92
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 129,547.43 $132,929.90
CAMPBELL SOUP CO US CPB 237.02 $9,883.59
CANADIAN NATIONAL RAILWAY CO CA CNI 6,124.2 $689,646.30
CARETRUST REIT INC US CTRE 3,264.94 $65,788.58
CATERPILLAR INC US CAT 223.25 $62,761.20
CBOE GLOBAL MARKETS INC US CBOE 4,541.31 $679,879.66
CELLNEX TELECOM SA ES CLNX SM 3,265.4 $124,886.60
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,624.89 $69,162.93
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 504,266.09 $523,149.89
CHEVRON CORP US CVX 443.15 $71,392.13
CIM 2019-INV1 A1 4.00000 02/25/2049 US 11,449.03 $10,714.75
CISCO SYSTEMS INC US CSCO 1,311.1 $75,191.69
CITIGROUP INC US C 822.91 $33,978.07
CITIGROUP INC 1.46200 06/09/2027 US 541,665.39 $482,185.97
CLARK CNTY NV 1.51000 11/01/2028 US 204,851.52 $173,580.73
CLEANAWAY WASTE MANAGEMENT AU CWY AU 54,696.06 $92,567.08
COCA COLA CO/THE US KO 31,519.11 $1,885,788.22
COGNIZANT TECH SOLUTIONS - A US CTSH 219.07 $15,687.84
COLGATE-PALMOLIVE CO US CL 390.58 $28,695.66
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 106,442.46 $92,104.15
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 404,898.91 $371,949.80
COMCAST CORP-CL A US CMCSA 1,394.14 $65,190.04
COMMUNITY HEALTHCARE TRUST I US CHCT 2,001.61 $66,433.47
CONAGRA BRAND INC. US CAG 361.25 $10,794.17
CONOCOPHILLIPS US COP 379.73 $45,198.92
COPART INC US CPRT 16,665.87 $747,131.13
CORNING INC US GLW 368.04 $12,079.18
COTERRA ENERGY INC US CTRA 453.59 $12,786.59
COUSINS PROPERTIES INC US CUZ 1,047.85 $24,624.48
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 79,752.37 $67,016.78
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 45,440.98 $37,892.10
CSX CORP US CSX 21,348.14 $644,713.80
CUMMINS INC US CMI 97.74 $22,485.15
CVS HEALTH CORP US CVS 370.96 $24,175.74
DEUTSCHE BOERSE AG DE DB1 GR 774.46 $137,485.37
DEUTSCHE BOERSE AG ADR DE DBOEY 33,130.25 $586,736.79
DEVON ENERGY CORPORATION US DVN 312.13 $15,946.59
DIAGEO PLC GB DGE LN 2,411.78 $98,769.48
DIAMONDBACK ENERGY INC US FANG 96.81 $14,693.76
DOLLAR GENERAL CORP US DG 7,182.68 $994,801.07
DOLLARAMA INC CA DOL CN 740.55 $48,015.95
DOW INC US DOW 317.55 $17,325.64
DREYFUS GVT CSH MANAGEMENT US 5,020,714.2 $5,020,714.20
EBAY INC US EBAY 312.33 $13,986.06
ELECTRONIC ARTS US EA 12,393.84 $1,487,012.94
EMERSON ELEC CO US EMR 304.2 $29,887.55
ENDAVA PLC - SPON ADR GB DAVA 903.92 $44,201.63
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 873,617.91 $869,727.93
EOG RESOURCES INC US EOG 221.99 $28,552.91
EQUINIX INC US EQIX 582.58 $455,216.42
EQUITY COMMONWEALTH US EQC 3,347.65 $63,705.71
EQUITY LIFESTYLE PROPERTIES US ELS 1,733.83 $116,097.36
EVERGY INC US EVRG 11,813.74 $649,401.10
EXTRA SPACE STORAGE INC US EXR 949.27 $122,152.20
EXXON MOBIL CORP US XOM 712.3 $79,200.79
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 12,232.2 $12,828.80
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,063.48 $6,359.22
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,538.4 $8,953.17
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 243.42 $241.47
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 17,085.81 $16,656.52
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 28,017.03 $27,298.05
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 52,645.07 $51,294.08
FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 482,628.46 $496,797.63
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 13,922.82 $12,652.01
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 38,341.23 $35,992.69
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 270,386.77 $242,375.00
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 922,606.07 $852,260.57
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 552,715.95 $501,998.62
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 44,230.23 $41,226.55
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 593,197.67 $556,836.41
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,498.67 $18,146.07
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 85,848.36 $84,212.05
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 626,412.55 $561,097.34
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 612,716.84 $566,474.48
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 754,182.36 $745,562.32
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 586,379.71 $511,252.45
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 731,430.59 $709,332.61
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 608,066.61 $525,457.17
FEDEX CORPORATION US FDX 85.96 $22,437.34
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 125,131.86 $121,078.34
FHLM POOL C91780 4.50000 07/01/2034 US 99,480.24 $97,778.33
FHLM POOL G03332 6.00000 10/01/2037 US 1,898.45 $1,993.59
FHLM POOL G05900 6.00000 03/01/2040 US 4,034.82 $4,237.02
FHLM POOL G05906 6.00000 04/01/2040 US 15,655.84 $16,440.42
FHLM POOL G06995 6.00000 05/01/2040 US 12,030.65 $12,633.55
FHLM POOL G13331 5.50000 10/01/2023 US 2.23 $2.22
FHLM POOL G60034 4.50000 02/01/2045 US 92,998.48 $90,587.98
FHLM POOL K91364 4.50000 11/01/2033 US 12,734.83 $12,538.44
FHLM POOL K92059 4.50000 09/01/2034 US 68,153.79 $66,978.72
FHLM POOL SD8230 4.50000 06/01/2052 US 442,787.64 $420,182.87
FHR 5189 CP 2.50000 06/25/2049 US 152,661.74 $129,308.01
FIFTH THIRD BANCORP US FITB 455.69 $12,098.59
FINECOBANK SPA IT FBK IM 8,393.63 $114,719.31
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,266.23 $52,259.71
FLX 2021-1A A2 3.25000 11/27/2051 US 537,112.91 $468,897.15
FMC CORP US FMC 14,112.68 $1,216,936.61
FN DS2696 3.00000 12/01/2051 US 708,778.32 $616,913.81
FN FS4925 MTGE 3.50000 04/01/2052 US 330,497.57 $299,028.41
FN MA4020 MTGE 3.00000 05/01/2050 US 342,788.54 $298,359.83
FN MA4733 4.50000 09/01/2052 US 691,146.65 $655,870.47
FN MA4807 MTGE 5.50000 11/01/2052 US 489,318.51 $484,082.34
FN MA4868 MTGE 5.00000 01/01/2053 US 889,956.28 $863,071.02
FN MA4934 MTGE 5.00000 02/01/2043 US 918,862.36 $900,451.76
FNR 2018-31 KP 3.50000 07/25/2047 US 6,890.71 $6,630.60
FR SD1129 4.00000 08/01/2051 US 437,053.85 $408,772.95
FR SD1360 MTGE 5.50000 07/01/2052 US 302,949 $299,586.18
FREMF 2015-K43 B FLT 3.85938 02/25/2048 US 665,416.88 $640,605.89
GENERAL DYNAMICS CORP US GD 137.39 $31,137.25
GENERAL MLS INC US GIS 322.14 $21,796.14
GENUINE PARTS CO US GPC 105.19 $16,170.31
GETTY REALTY CORP US GTY 1,741.34 $52,275.11
GILEAD SCIENCES INC US GILD 537.88 $41,136.85
GLOBANT SA LU GLOB 262.77 $53,728.99
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,787.88 $80,027.31
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 79,049.5 $71,016.39
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 99,775.33 $82,259.43
GREENIDGE GEN HLD INC US 3,251.68 $17,266.43
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 285,253.13 $239,522.32
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 75,025.25 $63,725.53
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 233,086.36 $197,826.47
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 114,394.82 $96,833.75
HALLIBURTON CO US HAL 415.91 $16,062.63
HALMA PLC GB HLMA LN 2,117.78 $57,409.67
HARTFORD FINL SVCS US HIG 154.18 $11,073.07
HAWAII ST 2.68200 10/01/2038 US 149,174.89 $109,740.70
HDFC BANK LTD-ADR IN HDB 1,929.48 $120,226.12
HEALTHCARE REALTY TRUST INC US HR 2,069.31 $36,254.33
HEINEKEN NV NL HEIA NA 1,366.47 $132,835.21
HEINEKEN NV-SPN ADR NL HEINY 29,082.9 $1,416,627.87
HELIOS TOWERS PLC GB HTWS LN 31,866.07 $36,795.38
HOME DEPOT INC US HD 292.1 $96,479.91
HONEYWELL INTERNATIONAL INC US HON 261.22 $49,093.48
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 281,168.76 $274,087.04
HUNTINGTON BANCSHARES US HBAN 779.67 $8,646.53
HWIRE 2021-1 A2 2.31100 11/20/2051 US 342,214.4 $302,117.65
IDEXX LABORATORIES INC US IDXX 1,922.2 $983,030.05
IMCD NV NL IMCD NA 348.73 $48,031.67
IMPRL 2021-NQM3 1.59500 11/25/2056 US 270,398.75 $218,622.67
INTERCONTINENTALEXCHANGE INC US ICE 5,787.19 $682,830.77
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,982.99 $50,978.11
INTERNATIONAL BUSINESS MACH CORP US IBM 252.04 $37,006.84
INTERNATIONAL FLVRS & FRAGRANCES US IFF 149.31 $10,518.68
INTUIT INC US INTU 1,281.84 $694,515.81
INTUITIVE SURGICAL INC US ISRG 1,975.17 $617,595.11
INVITATION HOMES INC US INVH 3,792.22 $129,276.92
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,147.82 $96,311.86
JM SMUCKER CO/THE-NEW COM WI US SJM 83.87 $12,157.51
JOHNSON & JOHNSON US JNJ 12,317.23 $1,991,450.16
JP MORGAN CHASE & CO US JPM 686.01 $100,384.22
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 72,580.94 $67,780.53
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 925,544.04 $877,816.58
KELLOGG CO US K 166.18 $10,140.24
KEYENCE CORP JP 6861 JP 208.64 $86,621.99
KEYWORDS STUDIOS PLC IE KWS LN 1,867.16 $36,071.13
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 26,016.79 $58,593.28
KRAFT HEINZ CO/THE US KHC 449.83 $14,884.90
L'OREAL FR OR FP 62.21 $27,323.02
L3HARRIS TECHNOLOGIES INC US LHX 8,609.94 $1,533,343.60
LEXINGTON REALTY TRUST US LXP 6,727.06 $66,059.70
LOCKHEED MARTIN CORP US LMT 104.84 $47,004.27
LONZA GROUP AG -REG CH LONN SW 84.29 $46,494.23
LULULEMON - ADR CA LULU 266.13 $101,463.15
MARATHON OIL CORP US MRO 332.57 $8,763.33
MARATHON PETROLEUM CORP US MPC 209.89 $29,966.44
MARRIOTT VACATIONS WORLD US VAC 302.93 $32,925.63
MASCO CORP US MAS 22,497.05 $1,327,551.15
MASTERCARD INC-CLASS A US MA 6,223.57 $2,568,091.95
MEDTRONIC INC IE MDT 16,749.84 $1,365,112.31
MERCADOLIBRE INC BR MELI 83.56 $114,670.20
MERCK & CO INC US MRK 767.8 $83,674.84
META PLATFORMS INC US META 7,687.33 $2,274,604.52
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 575,715.18 $30,845.10
MICROCHIP TECHNOLOGY INC US MCHP 257.55 $21,077.57
MICRON TECHNOLOGY INC US MU 30,581.19 $2,138,848.24
MICROSOFT CORP US MSFT 2,792.25 $915,189.26
MID-AMERICA APARTMENT COMM US MAA 450.43 $65,416.40
MONARCH CASINO & RESORT INC US MCRI 796.03 $53,652.28
MONDELEZ INTERNATIONAL INC US MDLZ 8,838.15 $629,806.42
MOODY'S CORPORATION US MCO 3,714.19 $1,250,940.22
NAVIENT CORP 6.75000 06/25/2025 US 152,152.02 $151,403.92
NESTLE S.A. - ADR CH NSRGY 13,069.96 $1,570,094.56
NESTLE SA-REGISTERED CH NESN SW 1,523.14 $183,140.87
NETAPP INC US NTAP 165.24 $12,674.21
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 361,535.35 $326,830.01
NIKE INC CLASS B US NKE 4,899.62 $498,340.53
NORFOLK SOUTHN CORP US NSC 100.15 $20,531.31
NORTHROP GRUMMAN CORP US NOC 2,037.21 $882,296.89
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 155,398.73 $15.54
NOVARTIS AG- REG CH NVS 7,696.63 $773,357.65
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 345,475.17 $349,976.78
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 83,831.96 $76,116.05
NRZT 2015-2A A1 3.75000 08/25/2055 US 130,968.34 $120,784.88
NRZT 2016-4A A1 3.75000 11/25/2056 US 253,093.34 $230,372.52
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 98,155.82 $87,547.79
OASIS 2023-1A 7.00000 02/15/2035 US 261,196.5 $259,939.28
OBX 2022-INV1 A1 3.00000 12/25/2051 US 122,787.46 $100,992.57
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 135,226.52 $137,014.87
OMNICOM GROUP US OMC 153.56 $12,439.90
OXFIN 2020-1A A2 3.10100 02/15/2028 US 153,954.27 $148,348.13
OXFIN 2022-1A 3.60200 02/15/2030 US 474,632.28 $438,390.26
OXFIN 2023-1A A2 6.71600 02/15/2031 US 603,789.39 $595,321.12
PACKAGING CORP OF AMERICA US PKG 66.59 $9,928.08
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 725,337.13 $734,841.10
PARAMOUNT GLOBAL CLASS B US PARA 438.45 $6,616.18
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 380,990.59 $362,418.93
PEAR 2022-1 A1 6.50000 10/15/2034 US 12,732.91 $12,726.53
PEAR 2023-1A 7.42000 07/15/2035 US 337,211.54 $336,757.89
PELORUS FUND REIT 7.00000 09/30/2026 US 111,672.79 $106,256.09
PEPSICO INC 3.90000 07/18/2032 US 736,695.3 $698,738.97
PFIZER INC US PFE 1,435.45 $50,786.30
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 454,030.99 $361,213.84
PFMT 2021-2 A2A 2.00000 04/25/2051 US 266,853.53 $223,226.41
PHILLIPS 66 US PSX 172.12 $19,649.36
PHYSICIANS REALTY TRUST US DOC 2,744.44 $38,175.20
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 72,806.95 $64,342.72
PPG INDUSTRIES INC US PPG 114.34 $16,208.19
PROLOGIS US PLD 3,511.93 $436,181.24
PUBLIC STORAGE INC US PSA 587.82 $162,461.56
QUALCOMM INC US QCOM 429.99 $49,246.86
QUALCOMM INC 4.25000 05/20/2032 US 220,918.31 $212,065.33
QUEST DIAGNOSTICS INC US DGX 91.25 $11,999.80
RAYTHEON TECHNOLOGIES CORP US RTX 397.14 $34,169.67
RCKT 2021-6 A1 2.50000 12/25/2051 US 517,424.93 $408,353.82
REALTY INCOME CORP US O 1,680.74 $94,188.46
REGIONS FINANCIAL CORP. US RF 687.57 $12,609.96
RENAISSANCERE HOLDINGS LTD BM RNR 545.59 $102,510.75
RENTOKIL INITIAL PLC GB RTO LN 17,895.3 $136,245.36
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,910.6 $603,807.40
REXFORD INDUSTRIAL REALITY IN US REXR 1,462.5 $78,199.74
S&P GLOBAL INC US SPGI 1,159.01 $453,009.90
SALESFORCE INC US CRM 3,168.2 $701,630.60
SBA COMMUNICATIONS CORP US SBAC 749.21 $168,219.55
SBA TOWER TRUST 1.88400 01/15/2026 US 173,722.12 $156,842.57
SBA TOWER TRUST 6.59900 01/15/2028 US 543,640.04 $551,934.03
SCHLUMBERGER LTD NL SLB 467.36 $27,555.34
SCML 2019-SBC8 2.86000 04/25/2041 US 99,089.18 $90,620.48
SEMT 2013-2 1.87400 02/25/2043 US 45,984.13 $38,203.52
SEMT 2013-6 A2 3.00000 05/25/2043 US 113,080.97 $97,171.57
SEMT 2013-7 A2 3.00000 06/25/2043 US 47,134.39 $41,010.39
SEMT 2013-8 A1 3.00000 06/25/2043 US 57,798.99 $50,026.87
SERVICENOW INC US NOW 2,252.89 $1,326,567.48
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,305,249.87 $1,049,695.20
SKYWORKS SOLUTIONS INC US SWKS 98.9 $10,753.95
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 246,565.47 $212,786.00
SMB 2020-BA A1A 1.29000 07/15/2053 US 275,957.35 $246,579.25
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 65,925.3 $64,058.31
SONY CORP FIRST SECTION JP 6758 JP 1,084.93 $90,258.45
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 306,332.42 $276,928.28
SORT 2020-1 A2 1.99000 07/15/2060 US 251,122.93 $211,543.04
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 690,455.53 $589,833.78
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 522,995.21 $373,075.72
STAG INDUSTRIAL INC US STAG 1,088.09 $39,748.09
SUN COMMUNITIES US SUI 1,262.33 $154,534.86
SYNCHRONOSS TECH US 3,119.33 $57,083.71
SYSCO CORP US SYY 209.26 $14,574.92
TAH 2017-SFR2 A 2.92800 01/17/2036 US 184,247.27 $181,811.28
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 11,829.77 $1,106,911.68
TE CONNECTIVITY LIMITED CH TEL 151.47 $20,053.59
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 7,093.8 $69,963.96
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,433,425.83 $1,320,163.21
TENCENT HOLDINGS LTD CN 700 HK 3,254.8 $134,880.28
TERRENO REALTY CORP US TRNO 1,193.88 $72,695.56
TEXAS INSTRUMENTS INC US TXN 265.81 $44,671.86
THERMO FISHER SCIENTIFIC INC US TMO 1,071.06 $596,689.94
TOKYO ELECTRON LTD JP 8035 JP 500.74 $74,372.61
TPMT 2016-5 A1 2.50000 10/25/2056 US 53,036.68 $52,284.08
TPMT 2017-1 A1 2.75000 10/25/2056 US 22,879.86 $22,594.74
TPMT 2019-HY1 A1 6.42943 10/25/2048 US 100,475.15 $100,187.61
TRAVELLERS COS INC US TRV 134.88 $21,747.14
TREASURY BOND 2.37500 02/15/2042 US 7,942,208.06 $5,910,740.16
TREASURY NOTE 2.25000 11/15/2027 US 4,574,835.97 $4,206,347.25
TRUIST FINANCIAL CORP US TFC 517.41 $15,807.02
TSY INFL IX N/B 0.12500 01/15/2031 US 2,407,497.26 $2,109,099.24
TSY INFL IX N/B 0.50000 04/15/2024 US 1,145,920.51 $1,121,359.83
TSY INFL IX N/B 2.37500 01/15/2027 US 559,849.24 $559,830.48
TYSON FOODS INC -CL A US TSN 213.29 $11,362.16
U.S. BANCORP US USB 696.53 $25,444.22
UDR INC US UDR 2,473.33 $98,685.69
UNILEVER PLC - ADR GB UL 30,629.27 $1,562,705.17
UNION PAC CORP US UNP 3,404.1 $750,842.30
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 21,339.97 $20,162.42
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 116,180.71 $104,780.97
UNITED PARCEL SERVICE US UPS 254.13 $43,048.79
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 104,320.65 $95,638.78
US TEASURY NOTE 1.75000 11/15/2029 US 5,409,230.96 $4,704,340.55
US TREASURY N/B 0.87500 11/15/2030 US 4,794,283.89 $3,838,423.54
US TREASURY N/B 1.37500 11/15/2031 US 3,220,934.56 $2,610,970.08
US TREASURY N/B 2.00000 11/15/2026 US 1,282,330.36 $1,187,157.40
US TREASURY N/B 3.12500 11/15/2028 US 4,516,285 $4,275,651.69
US TREASURY N/B 4.12500 11/15/2032 US 2,666,931.51 $2,666,514.80
USRE 2021-1 A1 1.91000 10/20/2061 US 388,159.85 $334,663.74
VALERO ENERGY US VLO 132.7 $17,237.19
VENTAS INC US VTR 1,228.32 $53,652.89
VERTEX PHARMACEUTICALS INC US VRTX 2,371.05 $825,930.86
VISA INC - CLASS A SHARES US V 6,784.74 $1,666,876.03
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 965,955.87 $887,910.90
WELLS FARGO COMPANY US WFC 988.83 $40,828.71
WELLTOWER INC. US WELL 1,275.05 $105,676.37
WIN 2015-1 A1 3.50000 01/20/2045 US 28,920.86 $25,813.03

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

$30.53

Daily $ Change

$0.01

Daily % Change

0.03%

as of 09/22/2023

CUSIP

563821164

Inception Date

01/06/2005

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a 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.

Learn more about our Glide Range SM

Performance

As of 08/31/2023

YTD

6.99%

1 Year

4.22%

3 Year

1.71%

5 Year

5.37%

10 Year

5.89%

Inception
(01/06/2005)

6.46%

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

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses.

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 08/31/2023

TREASURY NOTES 17.87%
GOVERNMENT AGENCY 9.32%
TREASURY BONDS 4.50%
AMAZON.COM INC 2.30%
MASTERCARD INC-CLASS A 1.95%
ALPHABET INC-CL A 1.83%
META PLATFORMS INC 1.73%
MICRON TECHNOLOGY INC 1.63%
TSY INFL IX N/B 0.12500 01/15/2031 1.60%
JOHNSON & JOHNSON 1.51%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2023

Bonds
50.93%
Stocks
45.39%
Cash
3.68%

Detailed Asset Class Allocation

As of 08/31/2023

International Equities
11.39%
Small Capitalization
0.43%
Mid Capitalization
4.41%
Large Capitalization
29.16%
Long Term Fixed Income
12.11%
Intermediate Term Fixed Income
37.60%
Short Term Fixed Income
1.22%
Cash
3.68%

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

Security Description Country Ticker Shares/Par Market Value (USD)
3M CO US MMM 247.31 $26,381.07
ABBOTT LABORATORIES US ABT 494.05 $50,837.43
ADMIRAL GROUP PLC GB ADM LN 6,093.67 $191,975.08
ADMIRAL GROUP PLC ADR GB AMIGY 23,523.8 $741,117.39
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 385,106.35 $333,766.31
AGREE REALTY CORP US ADC 1,964.89 $121,469.50
AIR LIQUIDE FR AI FP 551.42 $99,627.66
AIRBUS SE FR AIR FP 683.55 $100,007.74
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 33,070.01 $33,272.96
ALCON INC CH ALC 9,915.66 $822,900.65
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 200,206.91 $160,520.01
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 838,383.09 $680,793.45
ALPHABET INC-CL A US GOOGL 17,641.89 $2,402,295.48
AMAZON.COM INC US AMZN 21,946.04 $3,028,773.64
AMAZON.COM INC 3.30000 04/13/2027 US 677,583.82 $644,800.85
AMERICAN HOMES 4 RENT- A US AMH 1,222.82 $44,070.55
AMERICAN TOWER REIT INC US AMT 552.35 $100,152.19
AMERICOLD REALTY TRUST US COLD 4,193.26 $141,103.03
ANALOG DEVICES INC US ADI 227.84 $41,416.08
APARTMENT INCOME REIT CO US AIRC 1,040.34 $35,433.95
APPLIED MATERIALS INC US AMAT 4,284.03 $654,428.85
ARCHER-DANIELS-MIDLAND CO US ADM 276.66 $21,939.01
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 419,269.61 $387,498.33
ASTRAZENECA GB AZN 1,581.46 $107,254.68
ATLASSIAN CORP PLC-CLASS A AU TEAM 370.03 $75,508.17
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 11,873.17 $55,281.32
AUTO TRADER GROUP PLC GB AUTO LN 16,625.55 $127,492.45
AVALONBAY COMMUNITIES INC US AVB 638.83 $117,429.44
AVANZA BANK HOLDING AB SE AZA SS 4,194.05 $80,975.83
BABS 2021-RM2 A 1.75000 10/25/2061 US 191,035.21 $163,939.04
BAE SYSTEMS PLC GB BA/ LN 13,320.08 $169,534.88
BAE SYSTEMS PLC -SPON ADR GB BAESY 12,238.13 $633,568.04
BANK OF AMERICA CORP US BAC 1,842.54 $52,825.49
BANK OF AMERICA CORP 2.68700 04/22/2032 US 644,357.35 $526,936.74
BAXTER INTERNATIONAL INC US BAX 273.32 $11,096.80
BEIERSDORF AG DE BEI GR 906.84 $118,737.25
BIOMARIN PHARMACEUTICAL INC US BMRN 9,916.13 $906,135.70
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 310,240.35 $302,957.67
BRISTOL MYERS SQUIBB CO US BMY 729.41 $44,968.12
BROADCOM INC US AVGO 88.46 $81,642.46
BROADRIDGE FINANCIAL SOLUTIONS US BR 83.87 $15,618.14
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 95,614.48 $83,184.60
BUNGE LIMITED US BG 108.49 $12,402.97
C.H. ROBINSON WORLDWIDE INC US CHRW 108.91 $9,848.80
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 195,813.95 $185,307.92
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 129,547.43 $132,929.90
CAMPBELL SOUP CO US CPB 237.02 $9,883.59
CANADIAN NATIONAL RAILWAY CO CA CNI 6,124.2 $689,646.30
CARETRUST REIT INC US CTRE 3,264.94 $65,788.58
CATERPILLAR INC US CAT 223.25 $62,761.20
CBOE GLOBAL MARKETS INC US CBOE 4,541.31 $679,879.66
CELLNEX TELECOM SA ES CLNX SM 3,265.4 $124,886.60
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,624.89 $69,162.93
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 504,266.09 $523,149.89
CHEVRON CORP US CVX 443.15 $71,392.13
CIM 2019-INV1 A1 4.00000 02/25/2049 US 11,449.03 $10,714.75
CISCO SYSTEMS INC US CSCO 1,311.1 $75,191.69
CITIGROUP INC US C 822.91 $33,978.07
CITIGROUP INC 1.46200 06/09/2027 US 541,665.39 $482,185.97
CLARK CNTY NV 1.51000 11/01/2028 US 204,851.52 $173,580.73
CLEANAWAY WASTE MANAGEMENT AU CWY AU 54,696.06 $92,567.08
COCA COLA CO/THE US KO 31,519.11 $1,885,788.22
COGNIZANT TECH SOLUTIONS - A US CTSH 219.07 $15,687.84
COLGATE-PALMOLIVE CO US CL 390.58 $28,695.66
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 106,442.46 $92,104.15
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 404,898.91 $371,949.80
COMCAST CORP-CL A US CMCSA 1,394.14 $65,190.04
COMMUNITY HEALTHCARE TRUST I US CHCT 2,001.61 $66,433.47
CONAGRA BRAND INC. US CAG 361.25 $10,794.17
CONOCOPHILLIPS US COP 379.73 $45,198.92
COPART INC US CPRT 16,665.87 $747,131.13
CORNING INC US GLW 368.04 $12,079.18
COTERRA ENERGY INC US CTRA 453.59 $12,786.59
COUSINS PROPERTIES INC US CUZ 1,047.85 $24,624.48
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 79,752.37 $67,016.78
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 45,440.98 $37,892.10
CSX CORP US CSX 21,348.14 $644,713.80
CUMMINS INC US CMI 97.74 $22,485.15
CVS HEALTH CORP US CVS 370.96 $24,175.74
DEUTSCHE BOERSE AG DE DB1 GR 774.46 $137,485.37
DEUTSCHE BOERSE AG ADR DE DBOEY 33,130.25 $586,736.79
DEVON ENERGY CORPORATION US DVN 312.13 $15,946.59
DIAGEO PLC GB DGE LN 2,411.78 $98,769.48
DIAMONDBACK ENERGY INC US FANG 96.81 $14,693.76
DOLLAR GENERAL CORP US DG 7,182.68 $994,801.07
DOLLARAMA INC CA DOL CN 740.55 $48,015.95
DOW INC US DOW 317.55 $17,325.64
DREYFUS GVT CSH MANAGEMENT US 5,020,714.2 $5,020,714.20
EBAY INC US EBAY 312.33 $13,986.06
ELECTRONIC ARTS US EA 12,393.84 $1,487,012.94
EMERSON ELEC CO US EMR 304.2 $29,887.55
ENDAVA PLC - SPON ADR GB DAVA 903.92 $44,201.63
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 873,617.91 $869,727.93
EOG RESOURCES INC US EOG 221.99 $28,552.91
EQUINIX INC US EQIX 582.58 $455,216.42
EQUITY COMMONWEALTH US EQC 3,347.65 $63,705.71
EQUITY LIFESTYLE PROPERTIES US ELS 1,733.83 $116,097.36
EVERGY INC US EVRG 11,813.74 $649,401.10
EXTRA SPACE STORAGE INC US EXR 949.27 $122,152.20
EXXON MOBIL CORP US XOM 712.3 $79,200.79
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 12,232.2 $12,828.80
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,063.48 $6,359.22
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,538.4 $8,953.17
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 243.42 $241.47
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 17,085.81 $16,656.52
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 28,017.03 $27,298.05
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 52,645.07 $51,294.08
FEDERAL NATL MTG ASSN AL8674 FLT 5.64700 01/01/2049 US 482,628.46 $496,797.63
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 13,922.82 $12,652.01
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 38,341.23 $35,992.69
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 270,386.77 $242,375.00
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 922,606.07 $852,260.57
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 552,715.95 $501,998.62
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 44,230.23 $41,226.55
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 593,197.67 $556,836.41
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,498.67 $18,146.07
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 85,848.36 $84,212.05
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 626,412.55 $561,097.34
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 612,716.84 $566,474.48
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 754,182.36 $745,562.32
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 586,379.71 $511,252.45
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 731,430.59 $709,332.61
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 608,066.61 $525,457.17
FEDEX CORPORATION US FDX 85.96 $22,437.34
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 125,131.86 $121,078.34
FHLM POOL C91780 4.50000 07/01/2034 US 99,480.24 $97,778.33
FHLM POOL G03332 6.00000 10/01/2037 US 1,898.45 $1,993.59
FHLM POOL G05900 6.00000 03/01/2040 US 4,034.82 $4,237.02
FHLM POOL G05906 6.00000 04/01/2040 US 15,655.84 $16,440.42
FHLM POOL G06995 6.00000 05/01/2040 US 12,030.65 $12,633.55
FHLM POOL G13331 5.50000 10/01/2023 US 2.23 $2.22
FHLM POOL G60034 4.50000 02/01/2045 US 92,998.48 $90,587.98
FHLM POOL K91364 4.50000 11/01/2033 US 12,734.83 $12,538.44
FHLM POOL K92059 4.50000 09/01/2034 US 68,153.79 $66,978.72
FHLM POOL SD8230 4.50000 06/01/2052 US 442,787.64 $420,182.87
FHR 5189 CP 2.50000 06/25/2049 US 152,661.74 $129,308.01
FIFTH THIRD BANCORP US FITB 455.69 $12,098.59
FINECOBANK SPA IT FBK IM 8,393.63 $114,719.31
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,266.23 $52,259.71
FLX 2021-1A A2 3.25000 11/27/2051 US 537,112.91 $468,897.15
FMC CORP US FMC 14,112.68 $1,216,936.61
FN DS2696 3.00000 12/01/2051 US 708,778.32 $616,913.81
FN FS4925 MTGE 3.50000 04/01/2052 US 330,497.57 $299,028.41
FN MA4020 MTGE 3.00000 05/01/2050 US 342,788.54 $298,359.83
FN MA4733 4.50000 09/01/2052 US 691,146.65 $655,870.47
FN MA4807 MTGE 5.50000 11/01/2052 US 489,318.51 $484,082.34
FN MA4868 MTGE 5.00000 01/01/2053 US 889,956.28 $863,071.02
FN MA4934 MTGE 5.00000 02/01/2043 US 918,862.36 $900,451.76
FNR 2018-31 KP 3.50000 07/25/2047 US 6,890.71 $6,630.60
FR SD1129 4.00000 08/01/2051 US 437,053.85 $408,772.95
FR SD1360 MTGE 5.50000 07/01/2052 US 302,949 $299,586.18
FREMF 2015-K43 B FLT 3.85938 02/25/2048 US 665,416.88 $640,605.89
GENERAL DYNAMICS CORP US GD 137.39 $31,137.25
GENERAL MLS INC US GIS 322.14 $21,796.14
GENUINE PARTS CO US GPC 105.19 $16,170.31
GETTY REALTY CORP US GTY 1,741.34 $52,275.11
GILEAD SCIENCES INC US GILD 537.88 $41,136.85
GLOBANT SA LU GLOB 262.77 $53,728.99
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,787.88 $80,027.31
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 79,049.5 $71,016.39
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 99,775.33 $82,259.43
GREENIDGE GEN HLD INC US 3,251.68 $17,266.43
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 285,253.13 $239,522.32
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 75,025.25 $63,725.53
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 233,086.36 $197,826.47
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 114,394.82 $96,833.75
HALLIBURTON CO US HAL 415.91 $16,062.63
HALMA PLC GB HLMA LN 2,117.78 $57,409.67
HARTFORD FINL SVCS US HIG 154.18 $11,073.07
HAWAII ST 2.68200 10/01/2038 US 149,174.89 $109,740.70
HDFC BANK LTD-ADR IN HDB 1,929.48 $120,226.12
HEALTHCARE REALTY TRUST INC US HR 2,069.31 $36,254.33
HEINEKEN NV NL HEIA NA 1,366.47 $132,835.21
HEINEKEN NV-SPN ADR NL HEINY 29,082.9 $1,416,627.87
HELIOS TOWERS PLC GB HTWS LN 31,866.07 $36,795.38
HOME DEPOT INC US HD 292.1 $96,479.91
HONEYWELL INTERNATIONAL INC US HON 261.22 $49,093.48
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 281,168.76 $274,087.04
HUNTINGTON BANCSHARES US HBAN 779.67 $8,646.53
HWIRE 2021-1 A2 2.31100 11/20/2051 US 342,214.4 $302,117.65
IDEXX LABORATORIES INC US IDXX 1,922.2 $983,030.05
IMCD NV NL IMCD NA 348.73 $48,031.67
IMPRL 2021-NQM3 1.59500 11/25/2056 US 270,398.75 $218,622.67
INTERCONTINENTALEXCHANGE INC US ICE 5,787.19 $682,830.77
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,982.99 $50,978.11
INTERNATIONAL BUSINESS MACH CORP US IBM 252.04 $37,006.84
INTERNATIONAL FLVRS & FRAGRANCES US IFF 149.31 $10,518.68
INTUIT INC US INTU 1,281.84 $694,515.81
INTUITIVE SURGICAL INC US ISRG 1,975.17 $617,595.11
INVITATION HOMES INC US INVH 3,792.22 $129,276.92
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 100,147.82 $96,311.86
JM SMUCKER CO/THE-NEW COM WI US SJM 83.87 $12,157.51
JOHNSON & JOHNSON US JNJ 12,317.23 $1,991,450.16
JP MORGAN CHASE & CO US JPM 686.01 $100,384.22
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 72,580.94 $67,780.53
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 925,544.04 $877,816.58
KELLOGG CO US K 166.18 $10,140.24
KEYENCE CORP JP 6861 JP 208.64 $86,621.99
KEYWORDS STUDIOS PLC IE KWS LN 1,867.16 $36,071.13
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 26,016.79 $58,593.28
KRAFT HEINZ CO/THE US KHC 449.83 $14,884.90
L'OREAL FR OR FP 62.21 $27,323.02
L3HARRIS TECHNOLOGIES INC US LHX 8,609.94 $1,533,343.60
LEXINGTON REALTY TRUST US LXP 6,727.06 $66,059.70
LOCKHEED MARTIN CORP US LMT 104.84 $47,004.27
LONZA GROUP AG -REG CH LONN SW 84.29 $46,494.23
LULULEMON - ADR CA LULU 266.13 $101,463.15
MARATHON OIL CORP US MRO 332.57 $8,763.33
MARATHON PETROLEUM CORP US MPC 209.89 $29,966.44
MARRIOTT VACATIONS WORLD US VAC 302.93 $32,925.63
MASCO CORP US MAS 22,497.05 $1,327,551.15
MASTERCARD INC-CLASS A US MA 6,223.57 $2,568,091.95
MEDTRONIC INC IE MDT 16,749.84 $1,365,112.31
MERCADOLIBRE INC BR MELI 83.56 $114,670.20
MERCK & CO INC US MRK 767.8 $83,674.84
META PLATFORMS INC US META 7,687.33 $2,274,604.52
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 575,715.18 $30,845.10
MICROCHIP TECHNOLOGY INC US MCHP 257.55 $21,077.57
MICRON TECHNOLOGY INC US MU 30,581.19 $2,138,848.24
MICROSOFT CORP US MSFT 2,792.25 $915,189.26
MID-AMERICA APARTMENT COMM US MAA 450.43 $65,416.40
MONARCH CASINO & RESORT INC US MCRI 796.03 $53,652.28
MONDELEZ INTERNATIONAL INC US MDLZ 8,838.15 $629,806.42
MOODY'S CORPORATION US MCO 3,714.19 $1,250,940.22
NAVIENT CORP 6.75000 06/25/2025 US 152,152.02 $151,403.92
NESTLE S.A. - ADR CH NSRGY 13,069.96 $1,570,094.56
NESTLE SA-REGISTERED CH NESN SW 1,523.14 $183,140.87
NETAPP INC US NTAP 165.24 $12,674.21
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 361,535.35 $326,830.01
NIKE INC CLASS B US NKE 4,899.62 $498,340.53
NORFOLK SOUTHN CORP US NSC 100.15 $20,531.31
NORTHROP GRUMMAN CORP US NOC 2,037.21 $882,296.89
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 155,398.73 $15.54
NOVARTIS AG- REG CH NVS 7,696.63 $773,357.65
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 345,475.17 $349,976.78
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 83,831.96 $76,116.05
NRZT 2015-2A A1 3.75000 08/25/2055 US 130,968.34 $120,784.88
NRZT 2016-4A A1 3.75000 11/25/2056 US 253,093.34 $230,372.52
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 98,155.82 $87,547.79
OASIS 2023-1A 7.00000 02/15/2035 US 261,196.5 $259,939.28
OBX 2022-INV1 A1 3.00000 12/25/2051 US 122,787.46 $100,992.57
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 135,226.52 $137,014.87
OMNICOM GROUP US OMC 153.56 $12,439.90
OXFIN 2020-1A A2 3.10100 02/15/2028 US 153,954.27 $148,348.13
OXFIN 2022-1A 3.60200 02/15/2030 US 474,632.28 $438,390.26
OXFIN 2023-1A A2 6.71600 02/15/2031 US 603,789.39 $595,321.12
PACKAGING CORP OF AMERICA US PKG 66.59 $9,928.08
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 725,337.13 $734,841.10
PARAMOUNT GLOBAL CLASS B US PARA 438.45 $6,616.18
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 380,990.59 $362,418.93
PEAR 2022-1 A1 6.50000 10/15/2034 US 12,732.91 $12,726.53
PEAR 2023-1A 7.42000 07/15/2035 US 337,211.54 $336,757.89
PELORUS FUND REIT 7.00000 09/30/2026 US 111,672.79 $106,256.09
PEPSICO INC 3.90000 07/18/2032 US 736,695.3 $698,738.97
PFIZER INC US PFE 1,435.45 $50,786.30
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 454,030.99 $361,213.84
PFMT 2021-2 A2A 2.00000 04/25/2051 US 266,853.53 $223,226.41
PHILLIPS 66 US PSX 172.12 $19,649.36
PHYSICIANS REALTY TRUST US DOC 2,744.44 $38,175.20
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 72,806.95 $64,342.72
PPG INDUSTRIES INC US PPG 114.34 $16,208.19
PROLOGIS US PLD 3,511.93 $436,181.24
PUBLIC STORAGE INC US PSA 587.82 $162,461.56
QUALCOMM INC US QCOM 429.99 $49,246.86
QUALCOMM INC 4.25000 05/20/2032 US 220,918.31 $212,065.33
QUEST DIAGNOSTICS INC US DGX 91.25 $11,999.80
RAYTHEON TECHNOLOGIES CORP US RTX 397.14 $34,169.67
RCKT 2021-6 A1 2.50000 12/25/2051 US 517,424.93 $408,353.82
REALTY INCOME CORP US O 1,680.74 $94,188.46
REGIONS FINANCIAL CORP. US RF 687.57 $12,609.96
RENAISSANCERE HOLDINGS LTD BM RNR 545.59 $102,510.75
RENTOKIL INITIAL PLC GB RTO LN 17,895.3 $136,245.36
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,910.6 $603,807.40
REXFORD INDUSTRIAL REALITY IN US REXR 1,462.5 $78,199.74
S&P GLOBAL INC US SPGI 1,159.01 $453,009.90
SALESFORCE INC US CRM 3,168.2 $701,630.60
SBA COMMUNICATIONS CORP US SBAC 749.21 $168,219.55
SBA TOWER TRUST 1.88400 01/15/2026 US 173,722.12 $156,842.57
SBA TOWER TRUST 6.59900 01/15/2028 US 543,640.04 $551,934.03
SCHLUMBERGER LTD NL SLB 467.36 $27,555.34
SCML 2019-SBC8 2.86000 04/25/2041 US 99,089.18 $90,620.48
SEMT 2013-2 1.87400 02/25/2043 US 45,984.13 $38,203.52
SEMT 2013-6 A2 3.00000 05/25/2043 US 113,080.97 $97,171.57
SEMT 2013-7 A2 3.00000 06/25/2043 US 47,134.39 $41,010.39
SEMT 2013-8 A1 3.00000 06/25/2043 US 57,798.99 $50,026.87
SERVICENOW INC US NOW 2,252.89 $1,326,567.48
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,305,249.87 $1,049,695.20
SKYWORKS SOLUTIONS INC US SWKS 98.9 $10,753.95
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 246,565.47 $212,786.00
SMB 2020-BA A1A 1.29000 07/15/2053 US 275,957.35 $246,579.25
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 65,925.3 $64,058.31
SONY CORP FIRST SECTION JP 6758 JP 1,084.93 $90,258.45
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 306,332.42 $276,928.28
SORT 2020-1 A2 1.99000 07/15/2060 US 251,122.93 $211,543.04
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 690,455.53 $589,833.78
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 522,995.21 $373,075.72
STAG INDUSTRIAL INC US STAG 1,088.09 $39,748.09
SUN COMMUNITIES US SUI 1,262.33 $154,534.86
SYNCHRONOSS TECH US 3,119.33 $57,083.71
SYSCO CORP US SYY 209.26 $14,574.92
TAH 2017-SFR2 A 2.92800 01/17/2036 US 184,247.27 $181,811.28
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 11,829.77 $1,106,911.68
TE CONNECTIVITY LIMITED CH TEL 151.47 $20,053.59
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 7,093.8 $69,963.96
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,433,425.83 $1,320,163.21
TENCENT HOLDINGS LTD CN 700 HK 3,254.8 $134,880.28
TERRENO REALTY CORP US TRNO 1,193.88 $72,695.56
TEXAS INSTRUMENTS INC US TXN 265.81 $44,671.86
THERMO FISHER SCIENTIFIC INC US TMO 1,071.06 $596,689.94
TOKYO ELECTRON LTD JP 8035 JP 500.74 $74,372.61
TPMT 2016-5 A1 2.50000 10/25/2056 US 53,036.68 $52,284.08
TPMT 2017-1 A1 2.75000 10/25/2056 US 22,879.86 $22,594.74
TPMT 2019-HY1 A1 6.42943 10/25/2048 US 100,475.15 $100,187.61
TRAVELLERS COS INC US TRV 134.88 $21,747.14
TREASURY BOND 2.37500 02/15/2042 US 7,942,208.06 $5,910,740.16
TREASURY NOTE 2.25000 11/15/2027 US 4,574,835.97 $4,206,347.25
TRUIST FINANCIAL CORP US TFC 517.41 $15,807.02
TSY INFL IX N/B 0.12500 01/15/2031 US 2,407,497.26 $2,109,099.24
TSY INFL IX N/B 0.50000 04/15/2024 US 1,145,920.51 $1,121,359.83
TSY INFL IX N/B 2.37500 01/15/2027 US 559,849.24 $559,830.48
TYSON FOODS INC -CL A US TSN 213.29 $11,362.16
U.S. BANCORP US USB 696.53 $25,444.22
UDR INC US UDR 2,473.33 $98,685.69
UNILEVER PLC - ADR GB UL 30,629.27 $1,562,705.17
UNION PAC CORP US UNP 3,404.1 $750,842.30
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 21,339.97 $20,162.42
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 116,180.71 $104,780.97
UNITED PARCEL SERVICE US UPS 254.13 $43,048.79
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 104,320.65 $95,638.78
US TEASURY NOTE 1.75000 11/15/2029 US 5,409,230.96 $4,704,340.55
US TREASURY N/B 0.87500 11/15/2030 US 4,794,283.89 $3,838,423.54
US TREASURY N/B 1.37500 11/15/2031 US 3,220,934.56 $2,610,970.08
US TREASURY N/B 2.00000 11/15/2026 US 1,282,330.36 $1,187,157.40
US TREASURY N/B 3.12500 11/15/2028 US 4,516,285 $4,275,651.69
US TREASURY N/B 4.12500 11/15/2032 US 2,666,931.51 $2,666,514.80
USRE 2021-1 A1 1.91000 10/20/2061 US 388,159.85 $334,663.74
VALERO ENERGY US VLO 132.7 $17,237.19
VENTAS INC US VTR 1,228.32 $53,652.89
VERTEX PHARMACEUTICALS INC US VRTX 2,371.05 $825,930.86
VISA INC - CLASS A SHARES US V 6,784.74 $1,666,876.03
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 965,955.87 $887,910.90
WELLS FARGO COMPANY US WFC 988.83 $40,828.71
WELLTOWER INC. US WELL 1,275.05 $105,676.37
WIN 2015-1 A1 3.50000 01/20/2045 US 28,920.86 $25,813.03

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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