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

$31.08

Daily $ Change

-$0.19

Daily % Change

-0.61%

as of 06/07/2023

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 05/31/2023

YTD

5.93%

1 Year

-0.42%

3 Year

3.87%

5 Year

5.68%

10 Year

5.84%

Inception
(01/06/2005)

6.49%

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 05/31/2023

TREASURY NOTES 19.56%
GOVERNMENT AGENCY 9.06%
TREASURY BONDS 5.47%
TREASURY BILLS 3.29%
AMAZON.COM INC 2.02%
MASTERCARD INC-CLASS A 1.73%
ALPHABET INC-CL A 1.65%
MICRON TECHNOLOGY INC 1.59%
META PLATFORMS INC 1.55%
JOHNSON & JOHNSON 1.46%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Bonds
54.08%
Stocks
43.94%
Cash
1.98%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
11.62%
Small Capitalization
0.42%
Mid Capitalization
4.55%
Large Capitalization
27.35%
Long Term Fixed Income
13.33%
Intermediate Term Fixed Income
36.41%
Short Term Fixed Income
4.34%
Cash
1.98%

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 261.07 $24,359.99
ABBOTT LABORATORIES US ABT 491.03 $50,084.58
ADMIRAL GROUP PLC GB AMIGY 23,381.87 $675,969.82
ADMIRAL GROUP PLC GB ADM LN 6,056.41 $175,434.93
ADYEN NV NL ADYEN NA 32.76 $53,661.95
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 257,192.52 $222,974.86
AGREE REALTY CORP US ADC 1,615.92 $104,210.85
AIR LIQUIDE FR AI FP 892 $149,457.11
AIR LIQUIDE-ADR FR AIQUY 27,489.42 $921,445.28
AIRBUS SE FR AIR FP 679.36 $89,217.39
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 38,995.31 $39,528.26
ALCON INC CH ALC 10,406.93 $805,392.20
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 198,871.23 $163,353.52
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 696,943.46 $590,319.72
ALPHABET INC-CL A US GOOGL 17,534.91 $2,154,514.07
AMAZON.COM INC US AMZN 21,811.98 $2,630,088.84
AMAZON.COM INC 3.30000 04/13/2027 US 673,083.15 $649,110.29
AMERICAN HOMES 4 RENT- A US AMH 1,215.35 $41,662.05
AMERICAN TANKER INC 7.75000 07/02/2025 US 161,574.78 $155,275.09
AMERICAN TOWER REIT INC US AMT 406.83 $75,036.61
AMERICOLD REALTY TRUST US COLD 3,511.96 $102,900.33
ANALOG DEVICES INC US ADI 238.67 $42,409.20
APARTMENT INCOME REIT CO US AIRC 1,174.95 $40,759.09
APPLIED MATERIALS INC US AMAT 5,368.18 $715,578.02
ARCHER-DANIELS-MIDLAND CO US ADM 291.44 $20,590.23
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 305,507.29 $283,077.13
ASTRAZENECA GB AZN 1,571.78 $114,865.63
ATLASSIAN CORP PLC-CLASS A AU TEAM 300.46 $54,321.00
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 8,350.52 $44,632.04
AUTO TRADER GROUP PLC GB AUTO LN 20,564.57 $161,391.21
AVALONBAY COMMUNITIES INC US AVB 373.01 $64,896.03
AVANZA BANK HOLDING AB SE AZA SS 2,845.77 $59,092.11
BABS 2021-RM2 A 1.75000 10/25/2061 US 189,270.63 $165,512.25
BAE SYSTEMS PLC GB BA/ LN 13,238.63 $153,006.08
BAE SYSTEMS PLC -SPON ADR GB BAESY 12,163.3 $571,553.24
BANK OF AMERICA CORP US BAC 1,841.66 $51,179.62
BANK OF AMERICA CORP 2.68700 04/22/2032 US 561,787.98 $464,048.64
BARRICK GOLD CORP CA GOLD 24,735.46 $417,534.60
BAXTER INTERNATIONAL INC US BAX 283.46 $11,542.52
BEIERSDORF AG DE BEI GR 901.29 $115,013.85
BIOMARIN PHARMACEUTICAL INC US BMRN 9,855.52 $856,839.22
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 308,178.04 $296,158.10
BRANDYWINE REALTY TRUST US BDN 3,821.59 $14,904.18
BRISTOL MYERS SQUIBB CO US BMY 746.28 $48,090.55
BROADCOM INC US AVGO 92.17 $74,469.57
BROADRIDGE FINANCIAL SOLUTIONS US BR 86.78 $12,732.12
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 64,232.97 $55,186.28
BUNGE LIMITED US BG 113.22 $10,488.86
C.H. ROBINSON WORLDWIDE INC US CHRW 112.91 $10,674.18
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 193,865.01 $181,308.31
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 128,722.73 $130,402.57
CAMPBELL SOUP CO US CPB 243.65 $12,316.32
CANADIAN NATIONAL RAILWAY CO CA CNI 6,086.99 $686,185.95
CARETRUST REIT INC US CTRE 3,215.63 $62,383.19
CATERPILLAR INC US CAT 231.62 $47,655.64
CBOE GLOBAL MARKETS INC US CBOE 4,513.56 $597,685.98
CELLNEX TELECOM SA ES CLNX SM 3,098.31 $125,560.38
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,602.24 $72,837.38
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 325,019.68 $340,246.52
CHEVRON CORP US CVX 456.5 $68,758.51
CIM 2019-INV1 A1 4.00000 02/25/2049 US 12,422.81 $12,044.34
CISCO SYSTEMS INC US CSCO 1,358.1 $67,456.62
CITIGROUP INC US C 828.82 $36,733.12
CITIGROUP INC 1.46200 06/09/2027 US 538,068.85 $479,657.13
CLARK CNTY NV 1.51000 11/01/2028 US 202,812.63 $173,791.88
CLEANAWAY WASTE MANAGEMENT AU CWY AU 52,864.73 $89,326.09
COCA COLA CO/THE US KO 15,387.21 $918,001.04
COGNIZANT TECH SOLUTIONS - A US CTSH 227.89 $14,240.63
COLGATE-PALMOLIVE CO US CL 401.03 $29,828.50
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 105,383.03 $91,963.43
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 402,230.97 $377,712.57
COMCAST CORP-CL A US CMCSA 1,434.82 $56,460.22
COMMUNITY HEALTHCARE TRUST I US CHCT 1,542.55 $50,595.71
CONAGRA BRAND INC. US CAG 359.04 $12,519.77
CONOCOPHILLIPS US COP 393.88 $39,112.15
COPART INC US CPRT 8,281.06 $725,338.15
CORNING INC US GLW 388.9 $11,982.07
COTERRA ENERGY INC US CTRA 470.6 $10,941.54
COUSINS PROPERTIES INC US CUZ 2,693.38 $53,652.22
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 80,930.44 $69,506.56
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 45,664.05 $38,691.34
CSX CORP US CSX 21,217.72 $650,747.38
CUMMINS INC US CMI 97.15 $19,857.75
CVS HEALTH CORP US CVS 381.44 $25,949.14
DANONE FR BN FP 874.65 $51,769.76
DEUTSCHE BOERSE AG DE DB1 GR 769.73 $133,134.56
DEUTSCHE BOERSE AG ADR DE DBOEY 32,927.82 $568,004.92
DEVON ENERGY CORPORATION US DVN 322.96 $14,888.44
DIAGEO PLC GB DGE LN 2,397.01 $99,649.82
DIAMONDBACK ENERGY INC US FANG 99.64 $12,668.60
DIGITAL REALTY TRUST INC US DLR 325.22 $33,321.53
DOW INC US DOW 336.13 $16,396.50
DREYFUS GVT CSH MANAGEMENT US 2,629,914.72 $2,629,914.72
EBAY INC US EBAY 310.42 $13,205.19
ELECTRONIC ARTS US EA 12,317.99 $1,576,702.29
EMERSON ELEC CO US EMR 312.49 $24,274.37
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 747,252.49 $745,345.72
EOG RESOURCES INC US EOG 230.79 $24,761.43
EQUINIX INC US EQIX 517.98 $386,182.15
EQUITY COMMONWEALTH US EQC 2,668.91 $54,579.26
EQUITY LIFESTYLE PROPERTIES US ELS 1,680.79 $106,175.59
ESSEX PROPERTY TRUST INC US ESS 149.3 $32,258.50
EVERGY INC US EVRG 11,742 $679,274.60
EXTRA SPACE STORAGE INC US EXR 162.57 $23,454.67
EXXON MOBIL CORP US XOM 731.77 $74,772.11
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 12,425.29 $13,134.77
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,200.5 $6,554.55
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,706.88 $9,202.61
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 340.83 $338.38
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 17,362.66 $17,216.94
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 29,891.98 $29,629.55
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 53,655.62 $53,184.55
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 497,542.09 $519,238.16
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 13,911.41 $12,936.60
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 38,200.68 $36,626.00
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 278,510.21 $257,876.96
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 923,954.16 $872,253.35
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 565,095.61 $525,351.89
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 45,372.47 $42,956.81
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 606,269.32 $579,790.24
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,924.33 $18,806.99
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 87,410.21 $86,868.20
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 632,729.72 $580,430.62
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 620,735.19 $586,001.31
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 803,014.79 $800,990.87
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 597,750.03 $533,920.22
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 737,494.89 $725,842.94
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 626,358.5 $552,755.62
FEDEX CORPORATION US FDX 88.85 $19,367.96
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 128,187.92 $126,327.40
FHLM POOL C91780 4.50000 07/01/2034 US 101,625.66 $101,248.50
FHLM POOL G03332 6.00000 10/01/2037 US 1,942.58 $2,055.97
FHLM POOL G05900 6.00000 03/01/2040 US 4,150.15 $4,391.89
FHLM POOL G05906 6.00000 04/01/2040 US 16,278.81 $17,227.03
FHLM POOL G06995 6.00000 05/01/2040 US 12,210.74 $12,922.01
FHLM POOL G13331 5.50000 10/01/2023 US 14.08 $14.02
FHLM POOL G60034 4.50000 02/01/2045 US 95,628.38 $94,868.80
FHLM POOL K91364 4.50000 11/01/2033 US 12,915.42 $12,884.19
FHLM POOL K92059 4.50000 09/01/2034 US 68,713.31 $68,441.65
FHLM POOL SD8230 4.50000 06/01/2052 US 448,781.8 $433,858.21
FHR 5189 CP 2.50000 06/25/2049 US 154,623.99 $133,940.34
FIFTH THIRD BANCORP US FITB 459.82 $11,159.86
FINECOBANK SPA IT FBK IM 6,991.25 $93,390.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 2,964.63 $44,647.38
FLX 2021-1A A2 3.25000 11/27/2051 US 533,609.75 $472,778.24
FMC CORP US FMC 11,785.17 $1,226,600.91
FN DS2696 3.00000 12/01/2051 US 722,519.12 $645,308.52
FN MA4733 4.50000 09/01/2052 US 698,881.78 $675,643.33
FN MA4807 MTGE 5.50000 11/01/2052 US 497,131 $496,582.27
FN MA4868 MTGE 5.00000 01/01/2053 US 896,787.39 $882,620.27
FN MA4934 MTGE 5.00000 02/01/2043 US 945,050.31 $936,221.86
FNR 2018-31 KP 3.50000 07/25/2047 US 8,284.81 $8,008.92
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 429,132.65 $407,338.39
FR SD1129 4.00000 08/01/2051 US 447,922.76 $427,943.75
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 662,158.98 $636,476.38
GENERAL DYNAMICS CORP US GD 136.55 $27,880.00
GENERAL MLS INC US GIS 331.67 $27,913.26
GENUINE PARTS CO US GPC 105.44 $15,703.37
GETTY REALTY CORP US GTY 2,240.95 $76,797.51
GILEAD SCIENCES INC US GILD 550.75 $42,374.45
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,891.61 $81,452.72
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 78,543.13 $73,448.50
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 100,478.98 $84,627.20
GREENIDGE GEN HLD INC US 3,231.5 $15,349.60
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 290,089.87 $249,741.61
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 76,304.16 $65,802.41
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 237,093.56 $204,364.99
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 120,122.21 $103,290.21
HALLIBURTON CO US HAL 413.37 $11,843.08
HARTFORD FINL SVCS US HIG 153.23 $10,499.65
HAWAII ST 2.68200 10/01/2038 US 147,850.39 $112,242.27
HDFC BANK LTD-ADR IN HDB 1,698.01 $109,351.92
HEALTHCARE REALTY TRUST INC US HR 5,109.37 $95,085.32
HEINEKEN NV NL HEIA NA 1,274.96 $128,998.98
HEINEKEN NV-SPN ADR NL HEINY 16,712.68 $844,658.70
HELIOS TOWERS PLC GB HTWS LN 29,287.67 $32,989.47
HOME DEPOT INC US HD 300.46 $85,166.70
HONEYWELL INTERNATIONAL INC US HON 269.36 $51,609.33
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 278,370.27 $276,839.68
HUNTINGTON BANCSHARES US HBAN 774.9 $7,989.23
HWIRE 2021-1 A2 2.31100 11/20/2051 US 340,538.9 $302,377.60
IDEXX LABORATORIES INC US IDXX 1,910.43 $887,912.08
IMCD NV NL IMCD NA 290.41 $43,775.98
IMPRL 2021-NQM3 1.59500 11/25/2056 US 276,765.48 $232,254.16
INTERCONTINENTALEXCHANGE INC US ICE 5,751.82 $609,404.83
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,964.75 $51,458.81
INTERNATIONAL BUSINESS MACH CORP US IBM 258.16 $33,197.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 147.74 $11,419.13
INTUIT INC US INTU 1,466.81 $614,769.54
INTUITIVE SURGICAL INC US ISRG 2,247.65 $691,917.18
INVITATION HOMES INC US INVH 2,942.9 $99,705.53
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 99,535.62 $95,199.67
JM SMUCKER CO/THE-NEW COM WI US SJM 86.36 $12,660.04
JOHNSON & JOHNSON US JNJ 12,260.98 $1,901,187.49
JP MORGAN CHASE & CO US JPM 700.25 $95,030.79
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 76,825.48 $72,614.25
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 802,955.96 $775,090.86
KELLOGG CO US K 165.16 $11,027.91
KEYENCE CORP JP 6861 JP 165.89 $80,421.12
KEYWORDS STUDIOS PLC IE KWS LN 1,253.81 $30,335.80
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 66,215.37 $135,320.57
KRAFT HEINZ CO/THE US KHC 462.82 $17,689.12
L'OREAL FR OR FP 61.83 $26,471.92
L3HARRIS TECHNOLOGIES INC US LHX 4,467 $785,835.02
LEXINGTON REALTY TRUST US LXP 6,685.92 $69,132.40
LIFE STORAGE INC US LSI 678.88 $86,482.75
LINDE PLC IE LIN 202.07 $71,465.41
LOCKHEED MARTIN CORP US LMT 104.2 $46,264.55
LULULEMON - ADR CA LULU 264.5 $87,795.30
MARATHON OIL CORP US MRO 349.92 $7,754.16
MARATHON PETROLEUM CORP US MPC 216.17 $22,678.88
MASCO CORP US MAS 25,456.62 $1,230,063.64
MASTERCARD INC-CLASS A US MA 6,185.86 $2,257,963.05
MEDTRONIC INC IE MDT 17,095.98 $1,414,863.11
MEITUAN DIANPING - CLASS B CN 3690 HK 15.77 $221.37
MERCADOLIBRE INC BR MELI 66.77 $82,730.28
MERCK & CO INC US MRK 783.61 $86,518.39
META PLATFORMS INC US META 7,638.95 $2,022,183.47
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 572,388.65 $30,405.15
MICROCHIP TECHNOLOGY INC US MCHP 265.63 $19,991.10
MICRON TECHNOLOGY INC US MU 30,394.53 $2,072,907.23
MICROSOFT CORP US MSFT 4,170.01 $1,369,388.08
MID-AMERICA APARTMENT COMM US MAA 570.75 $83,934.97
MONARCH CASINO & RESORT INC US MCRI 516.34 $33,505.37
MONDELEZ INTERNATIONAL INC US MDLZ 17,240.85 $1,265,650.81
MOODY'S CORPORATION US MCO 3,691.78 $1,169,852.27
NAVIENT CORP 6.75000 06/25/2025 US 151,206.49 $147,130.01
NESTLE S.A. - ADR CH NSRGY 7,949.78 $943,877.80
NESTLE SA-REGISTERED CH NESN SW 1,247.69 $147,897.14
NETAPP INC US NTAP 173.97 $11,543.01
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 359,763.61 $323,651.50
NEWMONT GOLDCORP CORP US NEM 5,829.53 $236,387.33
NIKE INC CLASS B US NKE 4,869.42 $512,555.42
NORFOLK SOUTHN CORP US NSC 102.95 $21,432.73
NORTHROP GRUMMAN CORP US NOC 2,024.77 $881,769.06
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 154,444.93 $15.44
NOVARTIS AG- REG CH NVS 7,649.53 $736,267.05
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 87,733.57 $80,230.19
NRZT 2015-2A A1 3.75000 08/25/2055 US 135,085.8 $126,163.14
NRZT 2016-4A A1 3.75000 11/25/2056 US 263,054.92 $242,004.16
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 101,377.72 $91,425.73
OASIS 2023-1A 7.00000 02/15/2035 US 302,776.32 $300,408.12
OBX 2022-INV1 A1 3.00000 12/25/2051 US 124,041.79 $104,231.02
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 134,361.32 $135,033.13
OMNICOM GROUP US OMC 158.94 $14,017.07
OXFIN 2020-1A A2 3.10100 02/15/2028 US 210,389.6 $208,395.11
OXFIN 2022-1A 3.60200 02/15/2030 US 471,470.58 $433,123.71
OXFIN 2023-1A A2 6.71600 02/15/2031 US 599,766.81 $595,091.57
PACKAGING CORP OF AMERICA US PKG 74.24 $9,207.61
PARAMOUNT GLOBAL CLASS B US PARA 435.77 $6,628.01
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 428,342.45 $404,388.86
PEAR 2022-1 A1 6.50000 10/15/2034 US 38,310.2 $38,249.31
PELORUS FUND REIT 7.00000 09/30/2026 US 111,098.11 $104,081.99
PEPSICO INC 3.90000 07/18/2032 US 614,367.73 $593,355.67
PFIZER INC US PFE 1,475.15 $56,085.19
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 455,003.72 $367,124.85
PFMT 2021-2 A2A 2.00000 04/25/2051 US 272,155.6 $231,444.03
PHILLIPS 66 US PSX 171.07 $15,671.57
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 73,048.19 $66,077.02
POPULAR INC 6.12500 09/14/2023 PR 137,017.37 $136,332.28
PPG INDUSTRIES INC US PPG 119.96 $15,749.14
PROLOGIS US PLD 3,584.81 $446,487.80
PUBLIC STORAGE INC US PSA 539.25 $152,769.72
QUALCOMM INC US QCOM 437.52 $49,619.70
QUALCOMM INC 4.25000 05/20/2032 US 218,719.5 $212,762.47
QUEST DIAGNOSTICS INC US DGX 92.9 $12,323.17
RAYTHEON TECHNOLOGIES CORP US RTX 394.71 $36,368.41
RCKT 2021-6 A1 2.50000 12/25/2051 US 523,600.86 $422,494.84
REALTY INCOME CORP US O 1,435.53 $85,327.98
REGIONS FINANCIAL CORP. US RF 694.76 $11,998.47
RENAISSANCERE HOLDINGS LTD BM RNR 440.11 $82,904.04
RENTOKIL INITIAL PLC GB RTO LN 13,287.06 $105,692.93
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,813.39 $628,265.87
RESTAURANT BRANDS INTERN CA QSR 1,023.36 $74,613.11
REXFORD INDUSTRIAL REALITY IN US REXR 1,824.27 $99,313.34
S&P GLOBAL INC US SPGI 1,151.9 $423,243.73
SALESFORCE INC US CRM 3,316.21 $740,773.89
SBA COMMUNICATIONS CORP US SBAC 563.04 $124,870.58
SBA TOWER TRUST 1.88400 01/15/2026 US 171,993.06 $155,331.63
SBA TOWER TRUST 6.59900 01/15/2028 US 540,071.92 $558,881.11
SCHLUMBERGER LTD NL SLB 488.54 $20,924.04
SCML 2019-SBC8 2.86000 04/25/2041 US 102,477.68 $94,468.58
SEMT 2013-2 1.87400 02/25/2043 US 47,068.15 $41,004.40
SEMT 2013-6 A2 3.00000 05/25/2043 US 117,300.47 $101,016.83
SEMT 2013-7 A2 3.00000 06/25/2043 US 48,564.39 $42,936.24
SEMT 2013-8 A1 3.00000 06/25/2043 US 58,328.68 $51,797.53
SERVICENOW INC US NOW 2,821.05 $1,536,850.72
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,076,137.7 $874,400.01
SKYWORKS SOLUTIONS INC US SWKS 102.95 $10,656.65
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 249,785.29 $219,811.05
SMB 2020-BA A1A 1.29000 07/15/2053 US 290,863.15 $254,146.21
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 74,227.72 $71,775.56
SONY CORP FIRST SECTION JP 6758 JP 1,378.56 $129,281.57
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 304,364.44 $274,882.03
SORT 2020-1 A2 1.99000 07/15/2060 US 249,813.74 $210,007.95
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 686,684.03 $595,248.41
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 569,014.67 $415,372.76
STAG INDUSTRIAL INC US STAG 1,319.84 $45,930.37
SUN COMMUNITIES US SUI 1,088.74 $137,866.66
SYNCHRONOSS TECH US 4,091.84 $75,698.97
SYSCO CORP US SYY 207.98 $14,548.16
TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,852.71 $191,641.17
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 11,756.2 $1,159,043.79
TE CONNECTIVITY LIMITED CH TEL 156.45 $19,162.40
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 7,050.44 $65,292.87
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,353,154.98 $1,275,125.39
TENCENT HOLDINGS LTD CN 700 HK 2,830.12 $112,000.05
TERRENO REALTY CORP US TRNO 1,524.06 $93,470.41
TEXAS INSTRUMENTS INC US TXN 277.75 $48,295.83
THERMO FISHER SCIENTIFIC INC US TMO 1,064.45 $541,227.82
TOKYO ELECTRON LTD JP 8035 JP 497.68 $67,687.00
TPMT 2016-5 A1 2.50000 10/25/2056 US 69,223.72 $67,999.29
TPMT 2017-1 A1 2.75000 10/25/2056 US 33,102.39 $32,549.79
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 108,502.91 $107,536.51
TRAVELLERS COS INC US TRV 134.06 $22,687.94
TREASURY BILL 0.00000 05/16/2024 US 4,505,680.9 $4,289,843.96
TREASURY BOND 2.37500 02/15/2042 US 6,267,876.28 $4,895,798.99
TREASURY NOTE 2.25000 11/15/2027 US 4,544,124.55 $4,250,531.53
TRUIST FINANCIAL CORP US TFC 514.25 $15,669.21
TYSON FOODS INC -CL A US TSN 213.79 $10,826.11
U.S. BANCORP US USB 692.27 $20,698.86
UDR INC US UDR 2,526.41 $100,222.66
UNILEVER PLC - ADR GB UL 30,440.88 $1,520,217.31
UNION PAC CORP US UNP 3,390.55 $652,748.97
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 21,207.26 $19,960.24
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 115,438.92 $104,120.49
UNITED PARCEL SERVICE US UPS 261.07 $43,597.87
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 103,682.94 $99,242.52
US TEASURY NOTE 1.75000 11/15/2029 US 7,879,188.59 $7,022,942.43
US TREASURY N/B 0.87500 11/15/2030 US 5,198,200.62 $4,275,520.01
US TREASURY N/B 1.37500 11/15/2031 US 3,205,164.77 $2,679,317.42
US TREASURY N/B 2.00000 11/15/2026 US 1,633,934.08 $1,530,664.35
US TREASURY N/B 3.00000 05/15/2047 US 1,126,616.2 $950,406.39
US TREASURY N/B 3.12500 11/15/2028 US 5,902,606.16 $5,711,232.63
US TREASURY N/B 3.62500 02/15/2053 US 1,331,668.35 $1,275,280.52
USRE 2021-1 A1 1.91000 10/20/2061 US 386,259.4 $333,345.73
VALERO ENERGY US VLO 136.55 $14,615.90
VENTAS INC US VTR 1,119.32 $48,287.63
VERTEX PHARMACEUTICALS INC US VRTX 2,450.28 $792,835.73
VISA INC - CLASS A SHARES US V 6,742.89 $1,490,381.50
VISTRA OPERATIONS 4.87500 05/13/2024 US 529,859.51 $522,269.28
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 151,021.18 $146,080.85
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 827,669.26 $756,270.38
WELLS FARGO COMPANY US WFC 982.78 $39,124.50
WELLTOWER INC. US WELL 1,107.53 $82,633.01
WIN 2015-1 A1 3.50000 01/20/2045 US 28,981 $26,425.27

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

$31.08

Daily $ Change

-$0.19

Daily % Change

-$0.61

as of 06/07/2023

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 05/31/2023

YTD

5.93%

1 Year

-0.42%

3 Year

3.87%

5 Year

5.68%

10 Year

5.84%

Inception
(01/06/2005)

6.49%

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 05/31/2023

TREASURY NOTES 19.56%
GOVERNMENT AGENCY 9.06%
TREASURY BONDS 5.47%
TREASURY BILLS 3.29%
AMAZON.COM INC 2.02%
MASTERCARD INC-CLASS A 1.73%
ALPHABET INC-CL A 1.65%
MICRON TECHNOLOGY INC 1.59%
META PLATFORMS INC 1.55%
JOHNSON & JOHNSON 1.46%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Bonds
54.08%
Stocks
43.94%
Cash
1.98%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
11.62%
Small Capitalization
0.42%
Mid Capitalization
4.55%
Large Capitalization
27.35%
Long Term Fixed Income
13.33%
Intermediate Term Fixed Income
36.41%
Short Term Fixed Income
4.34%
Cash
1.98%

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 261.07 $24,359.99
ABBOTT LABORATORIES US ABT 491.03 $50,084.58
ADMIRAL GROUP PLC GB AMIGY 23,381.87 $675,969.82
ADMIRAL GROUP PLC GB ADM LN 6,056.41 $175,434.93
ADYEN NV NL ADYEN NA 32.76 $53,661.95
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 257,192.52 $222,974.86
AGREE REALTY CORP US ADC 1,615.92 $104,210.85
AIR LIQUIDE FR AI FP 892 $149,457.11
AIR LIQUIDE-ADR FR AIQUY 27,489.42 $921,445.28
AIRBUS SE FR AIR FP 679.36 $89,217.39
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 38,995.31 $39,528.26
ALCON INC CH ALC 10,406.93 $805,392.20
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 198,871.23 $163,353.52
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 696,943.46 $590,319.72
ALPHABET INC-CL A US GOOGL 17,534.91 $2,154,514.07
AMAZON.COM INC US AMZN 21,811.98 $2,630,088.84
AMAZON.COM INC 3.30000 04/13/2027 US 673,083.15 $649,110.29
AMERICAN HOMES 4 RENT- A US AMH 1,215.35 $41,662.05
AMERICAN TANKER INC 7.75000 07/02/2025 US 161,574.78 $155,275.09
AMERICAN TOWER REIT INC US AMT 406.83 $75,036.61
AMERICOLD REALTY TRUST US COLD 3,511.96 $102,900.33
ANALOG DEVICES INC US ADI 238.67 $42,409.20
APARTMENT INCOME REIT CO US AIRC 1,174.95 $40,759.09
APPLIED MATERIALS INC US AMAT 5,368.18 $715,578.02
ARCHER-DANIELS-MIDLAND CO US ADM 291.44 $20,590.23
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 305,507.29 $283,077.13
ASTRAZENECA GB AZN 1,571.78 $114,865.63
ATLASSIAN CORP PLC-CLASS A AU TEAM 300.46 $54,321.00
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 8,350.52 $44,632.04
AUTO TRADER GROUP PLC GB AUTO LN 20,564.57 $161,391.21
AVALONBAY COMMUNITIES INC US AVB 373.01 $64,896.03
AVANZA BANK HOLDING AB SE AZA SS 2,845.77 $59,092.11
BABS 2021-RM2 A 1.75000 10/25/2061 US 189,270.63 $165,512.25
BAE SYSTEMS PLC GB BA/ LN 13,238.63 $153,006.08
BAE SYSTEMS PLC -SPON ADR GB BAESY 12,163.3 $571,553.24
BANK OF AMERICA CORP US BAC 1,841.66 $51,179.62
BANK OF AMERICA CORP 2.68700 04/22/2032 US 561,787.98 $464,048.64
BARRICK GOLD CORP CA GOLD 24,735.46 $417,534.60
BAXTER INTERNATIONAL INC US BAX 283.46 $11,542.52
BEIERSDORF AG DE BEI GR 901.29 $115,013.85
BIOMARIN PHARMACEUTICAL INC US BMRN 9,855.52 $856,839.22
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 308,178.04 $296,158.10
BRANDYWINE REALTY TRUST US BDN 3,821.59 $14,904.18
BRISTOL MYERS SQUIBB CO US BMY 746.28 $48,090.55
BROADCOM INC US AVGO 92.17 $74,469.57
BROADRIDGE FINANCIAL SOLUTIONS US BR 86.78 $12,732.12
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 64,232.97 $55,186.28
BUNGE LIMITED US BG 113.22 $10,488.86
C.H. ROBINSON WORLDWIDE INC US CHRW 112.91 $10,674.18
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 193,865.01 $181,308.31
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 128,722.73 $130,402.57
CAMPBELL SOUP CO US CPB 243.65 $12,316.32
CANADIAN NATIONAL RAILWAY CO CA CNI 6,086.99 $686,185.95
CARETRUST REIT INC US CTRE 3,215.63 $62,383.19
CATERPILLAR INC US CAT 231.62 $47,655.64
CBOE GLOBAL MARKETS INC US CBOE 4,513.56 $597,685.98
CELLNEX TELECOM SA ES CLNX SM 3,098.31 $125,560.38
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,602.24 $72,837.38
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 325,019.68 $340,246.52
CHEVRON CORP US CVX 456.5 $68,758.51
CIM 2019-INV1 A1 4.00000 02/25/2049 US 12,422.81 $12,044.34
CISCO SYSTEMS INC US CSCO 1,358.1 $67,456.62
CITIGROUP INC US C 828.82 $36,733.12
CITIGROUP INC 1.46200 06/09/2027 US 538,068.85 $479,657.13
CLARK CNTY NV 1.51000 11/01/2028 US 202,812.63 $173,791.88
CLEANAWAY WASTE MANAGEMENT AU CWY AU 52,864.73 $89,326.09
COCA COLA CO/THE US KO 15,387.21 $918,001.04
COGNIZANT TECH SOLUTIONS - A US CTSH 227.89 $14,240.63
COLGATE-PALMOLIVE CO US CL 401.03 $29,828.50
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 105,383.03 $91,963.43
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 402,230.97 $377,712.57
COMCAST CORP-CL A US CMCSA 1,434.82 $56,460.22
COMMUNITY HEALTHCARE TRUST I US CHCT 1,542.55 $50,595.71
CONAGRA BRAND INC. US CAG 359.04 $12,519.77
CONOCOPHILLIPS US COP 393.88 $39,112.15
COPART INC US CPRT 8,281.06 $725,338.15
CORNING INC US GLW 388.9 $11,982.07
COTERRA ENERGY INC US CTRA 470.6 $10,941.54
COUSINS PROPERTIES INC US CUZ 2,693.38 $53,652.22
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 80,930.44 $69,506.56
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 45,664.05 $38,691.34
CSX CORP US CSX 21,217.72 $650,747.38
CUMMINS INC US CMI 97.15 $19,857.75
CVS HEALTH CORP US CVS 381.44 $25,949.14
DANONE FR BN FP 874.65 $51,769.76
DEUTSCHE BOERSE AG DE DB1 GR 769.73 $133,134.56
DEUTSCHE BOERSE AG ADR DE DBOEY 32,927.82 $568,004.92
DEVON ENERGY CORPORATION US DVN 322.96 $14,888.44
DIAGEO PLC GB DGE LN 2,397.01 $99,649.82
DIAMONDBACK ENERGY INC US FANG 99.64 $12,668.60
DIGITAL REALTY TRUST INC US DLR 325.22 $33,321.53
DOW INC US DOW 336.13 $16,396.50
DREYFUS GVT CSH MANAGEMENT US 2,629,914.72 $2,629,914.72
EBAY INC US EBAY 310.42 $13,205.19
ELECTRONIC ARTS US EA 12,317.99 $1,576,702.29
EMERSON ELEC CO US EMR 312.49 $24,274.37
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 747,252.49 $745,345.72
EOG RESOURCES INC US EOG 230.79 $24,761.43
EQUINIX INC US EQIX 517.98 $386,182.15
EQUITY COMMONWEALTH US EQC 2,668.91 $54,579.26
EQUITY LIFESTYLE PROPERTIES US ELS 1,680.79 $106,175.59
ESSEX PROPERTY TRUST INC US ESS 149.3 $32,258.50
EVERGY INC US EVRG 11,742 $679,274.60
EXTRA SPACE STORAGE INC US EXR 162.57 $23,454.67
EXXON MOBIL CORP US XOM 731.77 $74,772.11
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 12,425.29 $13,134.77
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 6,200.5 $6,554.55
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,706.88 $9,202.61
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 340.83 $338.38
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 17,362.66 $17,216.94
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 29,891.98 $29,629.55
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 53,655.62 $53,184.55
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 497,542.09 $519,238.16
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 13,911.41 $12,936.60
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 38,200.68 $36,626.00
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 278,510.21 $257,876.96
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 923,954.16 $872,253.35
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 565,095.61 $525,351.89
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 45,372.47 $42,956.81
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 606,269.32 $579,790.24
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 18,924.33 $18,806.99
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 87,410.21 $86,868.20
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 632,729.72 $580,430.62
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 620,735.19 $586,001.31
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 803,014.79 $800,990.87
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 597,750.03 $533,920.22
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 737,494.89 $725,842.94
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 626,358.5 $552,755.62
FEDEX CORPORATION US FDX 88.85 $19,367.96
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 128,187.92 $126,327.40
FHLM POOL C91780 4.50000 07/01/2034 US 101,625.66 $101,248.50
FHLM POOL G03332 6.00000 10/01/2037 US 1,942.58 $2,055.97
FHLM POOL G05900 6.00000 03/01/2040 US 4,150.15 $4,391.89
FHLM POOL G05906 6.00000 04/01/2040 US 16,278.81 $17,227.03
FHLM POOL G06995 6.00000 05/01/2040 US 12,210.74 $12,922.01
FHLM POOL G13331 5.50000 10/01/2023 US 14.08 $14.02
FHLM POOL G60034 4.50000 02/01/2045 US 95,628.38 $94,868.80
FHLM POOL K91364 4.50000 11/01/2033 US 12,915.42 $12,884.19
FHLM POOL K92059 4.50000 09/01/2034 US 68,713.31 $68,441.65
FHLM POOL SD8230 4.50000 06/01/2052 US 448,781.8 $433,858.21
FHR 5189 CP 2.50000 06/25/2049 US 154,623.99 $133,940.34
FIFTH THIRD BANCORP US FITB 459.82 $11,159.86
FINECOBANK SPA IT FBK IM 6,991.25 $93,390.30
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 2,964.63 $44,647.38
FLX 2021-1A A2 3.25000 11/27/2051 US 533,609.75 $472,778.24
FMC CORP US FMC 11,785.17 $1,226,600.91
FN DS2696 3.00000 12/01/2051 US 722,519.12 $645,308.52
FN MA4733 4.50000 09/01/2052 US 698,881.78 $675,643.33
FN MA4807 MTGE 5.50000 11/01/2052 US 497,131 $496,582.27
FN MA4868 MTGE 5.00000 01/01/2053 US 896,787.39 $882,620.27
FN MA4934 MTGE 5.00000 02/01/2043 US 945,050.31 $936,221.86
FNR 2018-31 KP 3.50000 07/25/2047 US 8,284.81 $8,008.92
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 429,132.65 $407,338.39
FR SD1129 4.00000 08/01/2051 US 447,922.76 $427,943.75
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 662,158.98 $636,476.38
GENERAL DYNAMICS CORP US GD 136.55 $27,880.00
GENERAL MLS INC US GIS 331.67 $27,913.26
GENUINE PARTS CO US GPC 105.44 $15,703.37
GETTY REALTY CORP US GTY 2,240.95 $76,797.51
GILEAD SCIENCES INC US GILD 550.75 $42,374.45
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 88,891.61 $81,452.72
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 78,543.13 $73,448.50
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 100,478.98 $84,627.20
GREENIDGE GEN HLD INC US 3,231.5 $15,349.60
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 290,089.87 $249,741.61
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 76,304.16 $65,802.41
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 237,093.56 $204,364.99
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 120,122.21 $103,290.21
HALLIBURTON CO US HAL 413.37 $11,843.08
HARTFORD FINL SVCS US HIG 153.23 $10,499.65
HAWAII ST 2.68200 10/01/2038 US 147,850.39 $112,242.27
HDFC BANK LTD-ADR IN HDB 1,698.01 $109,351.92
HEALTHCARE REALTY TRUST INC US HR 5,109.37 $95,085.32
HEINEKEN NV NL HEIA NA 1,274.96 $128,998.98
HEINEKEN NV-SPN ADR NL HEINY 16,712.68 $844,658.70
HELIOS TOWERS PLC GB HTWS LN 29,287.67 $32,989.47
HOME DEPOT INC US HD 300.46 $85,166.70
HONEYWELL INTERNATIONAL INC US HON 269.36 $51,609.33
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 278,370.27 $276,839.68
HUNTINGTON BANCSHARES US HBAN 774.9 $7,989.23
HWIRE 2021-1 A2 2.31100 11/20/2051 US 340,538.9 $302,377.60
IDEXX LABORATORIES INC US IDXX 1,910.43 $887,912.08
IMCD NV NL IMCD NA 290.41 $43,775.98
IMPRL 2021-NQM3 1.59500 11/25/2056 US 276,765.48 $232,254.16
INTERCONTINENTALEXCHANGE INC US ICE 5,751.82 $609,404.83
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,964.75 $51,458.81
INTERNATIONAL BUSINESS MACH CORP US IBM 258.16 $33,197.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 147.74 $11,419.13
INTUIT INC US INTU 1,466.81 $614,769.54
INTUITIVE SURGICAL INC US ISRG 2,247.65 $691,917.18
INVITATION HOMES INC US INVH 2,942.9 $99,705.53
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 99,535.62 $95,199.67
JM SMUCKER CO/THE-NEW COM WI US SJM 86.36 $12,660.04
JOHNSON & JOHNSON US JNJ 12,260.98 $1,901,187.49
JP MORGAN CHASE & CO US JPM 700.25 $95,030.79
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 76,825.48 $72,614.25
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 802,955.96 $775,090.86
KELLOGG CO US K 165.16 $11,027.91
KEYENCE CORP JP 6861 JP 165.89 $80,421.12
KEYWORDS STUDIOS PLC IE KWS LN 1,253.81 $30,335.80
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 66,215.37 $135,320.57
KRAFT HEINZ CO/THE US KHC 462.82 $17,689.12
L'OREAL FR OR FP 61.83 $26,471.92
L3HARRIS TECHNOLOGIES INC US LHX 4,467 $785,835.02
LEXINGTON REALTY TRUST US LXP 6,685.92 $69,132.40
LIFE STORAGE INC US LSI 678.88 $86,482.75
LINDE PLC IE LIN 202.07 $71,465.41
LOCKHEED MARTIN CORP US LMT 104.2 $46,264.55
LULULEMON - ADR CA LULU 264.5 $87,795.30
MARATHON OIL CORP US MRO 349.92 $7,754.16
MARATHON PETROLEUM CORP US MPC 216.17 $22,678.88
MASCO CORP US MAS 25,456.62 $1,230,063.64
MASTERCARD INC-CLASS A US MA 6,185.86 $2,257,963.05
MEDTRONIC INC IE MDT 17,095.98 $1,414,863.11
MEITUAN DIANPING - CLASS B CN 3690 HK 15.77 $221.37
MERCADOLIBRE INC BR MELI 66.77 $82,730.28
MERCK & CO INC US MRK 783.61 $86,518.39
META PLATFORMS INC US META 7,638.95 $2,022,183.47
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 572,388.65 $30,405.15
MICROCHIP TECHNOLOGY INC US MCHP 265.63 $19,991.10
MICRON TECHNOLOGY INC US MU 30,394.53 $2,072,907.23
MICROSOFT CORP US MSFT 4,170.01 $1,369,388.08
MID-AMERICA APARTMENT COMM US MAA 570.75 $83,934.97
MONARCH CASINO & RESORT INC US MCRI 516.34 $33,505.37
MONDELEZ INTERNATIONAL INC US MDLZ 17,240.85 $1,265,650.81
MOODY'S CORPORATION US MCO 3,691.78 $1,169,852.27
NAVIENT CORP 6.75000 06/25/2025 US 151,206.49 $147,130.01
NESTLE S.A. - ADR CH NSRGY 7,949.78 $943,877.80
NESTLE SA-REGISTERED CH NESN SW 1,247.69 $147,897.14
NETAPP INC US NTAP 173.97 $11,543.01
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 359,763.61 $323,651.50
NEWMONT GOLDCORP CORP US NEM 5,829.53 $236,387.33
NIKE INC CLASS B US NKE 4,869.42 $512,555.42
NORFOLK SOUTHN CORP US NSC 102.95 $21,432.73
NORTHROP GRUMMAN CORP US NOC 2,024.77 $881,769.06
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 154,444.93 $15.44
NOVARTIS AG- REG CH NVS 7,649.53 $736,267.05
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 87,733.57 $80,230.19
NRZT 2015-2A A1 3.75000 08/25/2055 US 135,085.8 $126,163.14
NRZT 2016-4A A1 3.75000 11/25/2056 US 263,054.92 $242,004.16
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 101,377.72 $91,425.73
OASIS 2023-1A 7.00000 02/15/2035 US 302,776.32 $300,408.12
OBX 2022-INV1 A1 3.00000 12/25/2051 US 124,041.79 $104,231.02
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 134,361.32 $135,033.13
OMNICOM GROUP US OMC 158.94 $14,017.07
OXFIN 2020-1A A2 3.10100 02/15/2028 US 210,389.6 $208,395.11
OXFIN 2022-1A 3.60200 02/15/2030 US 471,470.58 $433,123.71
OXFIN 2023-1A A2 6.71600 02/15/2031 US 599,766.81 $595,091.57
PACKAGING CORP OF AMERICA US PKG 74.24 $9,207.61
PARAMOUNT GLOBAL CLASS B US PARA 435.77 $6,628.01
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 428,342.45 $404,388.86
PEAR 2022-1 A1 6.50000 10/15/2034 US 38,310.2 $38,249.31
PELORUS FUND REIT 7.00000 09/30/2026 US 111,098.11 $104,081.99
PEPSICO INC 3.90000 07/18/2032 US 614,367.73 $593,355.67
PFIZER INC US PFE 1,475.15 $56,085.19
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 455,003.72 $367,124.85
PFMT 2021-2 A2A 2.00000 04/25/2051 US 272,155.6 $231,444.03
PHILLIPS 66 US PSX 171.07 $15,671.57
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 73,048.19 $66,077.02
POPULAR INC 6.12500 09/14/2023 PR 137,017.37 $136,332.28
PPG INDUSTRIES INC US PPG 119.96 $15,749.14
PROLOGIS US PLD 3,584.81 $446,487.80
PUBLIC STORAGE INC US PSA 539.25 $152,769.72
QUALCOMM INC US QCOM 437.52 $49,619.70
QUALCOMM INC 4.25000 05/20/2032 US 218,719.5 $212,762.47
QUEST DIAGNOSTICS INC US DGX 92.9 $12,323.17
RAYTHEON TECHNOLOGIES CORP US RTX 394.71 $36,368.41
RCKT 2021-6 A1 2.50000 12/25/2051 US 523,600.86 $422,494.84
REALTY INCOME CORP US O 1,435.53 $85,327.98
REGIONS FINANCIAL CORP. US RF 694.76 $11,998.47
RENAISSANCERE HOLDINGS LTD BM RNR 440.11 $82,904.04
RENTOKIL INITIAL PLC GB RTO LN 13,287.06 $105,692.93
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,813.39 $628,265.87
RESTAURANT BRANDS INTERN CA QSR 1,023.36 $74,613.11
REXFORD INDUSTRIAL REALITY IN US REXR 1,824.27 $99,313.34
S&P GLOBAL INC US SPGI 1,151.9 $423,243.73
SALESFORCE INC US CRM 3,316.21 $740,773.89
SBA COMMUNICATIONS CORP US SBAC 563.04 $124,870.58
SBA TOWER TRUST 1.88400 01/15/2026 US 171,993.06 $155,331.63
SBA TOWER TRUST 6.59900 01/15/2028 US 540,071.92 $558,881.11
SCHLUMBERGER LTD NL SLB 488.54 $20,924.04
SCML 2019-SBC8 2.86000 04/25/2041 US 102,477.68 $94,468.58
SEMT 2013-2 1.87400 02/25/2043 US 47,068.15 $41,004.40
SEMT 2013-6 A2 3.00000 05/25/2043 US 117,300.47 $101,016.83
SEMT 2013-7 A2 3.00000 06/25/2043 US 48,564.39 $42,936.24
SEMT 2013-8 A1 3.00000 06/25/2043 US 58,328.68 $51,797.53
SERVICENOW INC US NOW 2,821.05 $1,536,850.72
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,076,137.7 $874,400.01
SKYWORKS SOLUTIONS INC US SWKS 102.95 $10,656.65
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 249,785.29 $219,811.05
SMB 2020-BA A1A 1.29000 07/15/2053 US 290,863.15 $254,146.21
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 74,227.72 $71,775.56
SONY CORP FIRST SECTION JP 6758 JP 1,378.56 $129,281.57
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 304,364.44 $274,882.03
SORT 2020-1 A2 1.99000 07/15/2060 US 249,813.74 $210,007.95
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 686,684.03 $595,248.41
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 569,014.67 $415,372.76
STAG INDUSTRIAL INC US STAG 1,319.84 $45,930.37
SUN COMMUNITIES US SUI 1,088.74 $137,866.66
SYNCHRONOSS TECH US 4,091.84 $75,698.97
SYSCO CORP US SYY 207.98 $14,548.16
TAH 2017-SFR2 A 2.92800 01/17/2036 US 195,852.71 $191,641.17
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 11,756.2 $1,159,043.79
TE CONNECTIVITY LIMITED CH TEL 156.45 $19,162.40
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 7,050.44 $65,292.87
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,353,154.98 $1,275,125.39
TENCENT HOLDINGS LTD CN 700 HK 2,830.12 $112,000.05
TERRENO REALTY CORP US TRNO 1,524.06 $93,470.41
TEXAS INSTRUMENTS INC US TXN 277.75 $48,295.83
THERMO FISHER SCIENTIFIC INC US TMO 1,064.45 $541,227.82
TOKYO ELECTRON LTD JP 8035 JP 497.68 $67,687.00
TPMT 2016-5 A1 2.50000 10/25/2056 US 69,223.72 $67,999.29
TPMT 2017-1 A1 2.75000 10/25/2056 US 33,102.39 $32,549.79
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 108,502.91 $107,536.51
TRAVELLERS COS INC US TRV 134.06 $22,687.94
TREASURY BILL 0.00000 05/16/2024 US 4,505,680.9 $4,289,843.96
TREASURY BOND 2.37500 02/15/2042 US 6,267,876.28 $4,895,798.99
TREASURY NOTE 2.25000 11/15/2027 US 4,544,124.55 $4,250,531.53
TRUIST FINANCIAL CORP US TFC 514.25 $15,669.21
TYSON FOODS INC -CL A US TSN 213.79 $10,826.11
U.S. BANCORP US USB 692.27 $20,698.86
UDR INC US UDR 2,526.41 $100,222.66
UNILEVER PLC - ADR GB UL 30,440.88 $1,520,217.31
UNION PAC CORP US UNP 3,390.55 $652,748.97
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 21,207.26 $19,960.24
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 115,438.92 $104,120.49
UNITED PARCEL SERVICE US UPS 261.07 $43,597.87
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 103,682.94 $99,242.52
US TEASURY NOTE 1.75000 11/15/2029 US 7,879,188.59 $7,022,942.43
US TREASURY N/B 0.87500 11/15/2030 US 5,198,200.62 $4,275,520.01
US TREASURY N/B 1.37500 11/15/2031 US 3,205,164.77 $2,679,317.42
US TREASURY N/B 2.00000 11/15/2026 US 1,633,934.08 $1,530,664.35
US TREASURY N/B 3.00000 05/15/2047 US 1,126,616.2 $950,406.39
US TREASURY N/B 3.12500 11/15/2028 US 5,902,606.16 $5,711,232.63
US TREASURY N/B 3.62500 02/15/2053 US 1,331,668.35 $1,275,280.52
USRE 2021-1 A1 1.91000 10/20/2061 US 386,259.4 $333,345.73
VALERO ENERGY US VLO 136.55 $14,615.90
VENTAS INC US VTR 1,119.32 $48,287.63
VERTEX PHARMACEUTICALS INC US VRTX 2,450.28 $792,835.73
VISA INC - CLASS A SHARES US V 6,742.89 $1,490,381.50
VISTRA OPERATIONS 4.87500 05/13/2024 US 529,859.51 $522,269.28
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 151,021.18 $146,080.85
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 827,669.26 $756,270.38
WELLS FARGO COMPANY US WFC 982.78 $39,124.50
WELLTOWER INC. US WELL 1,107.53 $82,633.01
WIN 2015-1 A1 3.50000 01/20/2045 US 28,981 $26,425.27

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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