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 securities 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 38% - 74%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$23.33

Daily $ Change

-$0.14

Daily % Change

-0.60%

as of 04/19/2018

CUSIP

563821164

Inception Date

01/06/2005

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Annualized Performance

As of 03/31/2018

YTD

-0.09%

1 Year

8.89%

3 Year

4.30%

5 Year

6.02%

10 Year

5.97%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

6.85%

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

Expense Ratio

Gross 0.89%
Net 0.89%*

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

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 10.61%
TREASURY BONDS 5.04%
GOVERNMENT AGENCY 4.23%
QORVO INC 2.13%
BOOKING HOLDINGS INC 2.11%
DAVITA INC. 1.62%
REGENERON PHARMACEUTICALS INC 1.56%
ANHEUSER-BUSCH INBEV SA/NV 1.54%
FACEBOOK INC -A 1.49%
MEDTRONIC INC 1.37%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Stocks 53.95%
Bonds 45.03%
Cash 1.02%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities 18.02%
Small Capitalization 0.88%
Mid Capitalization 6.96%
Large Capitalization 28.09%
Long Term Fixed Income 13.51%
Intermediate Term Fixed Income 22.70%
Short Term Fixed Income 8.82%
Cash 1.02%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 72,471.19 $71,565.30
00206REM0 AT&T INC 3.90000 08/14/2027 US 860,937.69 $866,864.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,329,896.93 $1,306,344.46
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 260,569.16 $269,037.66
004239109 ACADIA REALTY TRUST US AKR 1,027.09 $25,266.30
0045614 ANTOFAGASTA PLC GB ANTO LN 57,017.7 $737,172.03
0053673 ASHTEAD GROUP PLC GB AHT LN 3,817.29 $104,084.70
00724F101 ADOBE SYS INC US ADBE 1,625.43 $351,223.43
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 718,144.34 $735,618.97
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 6,956.12 $154,982.40
008492100 AGREE REALTY CORP US ADC 454.92 $21,854.13
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 32,300.01 $33,592.01
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 119,210.58 $128,896.44
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 464.96 $58,068.30
01609W102 ALIBABA GROUP - ADR CN BABA 12,158.03 $2,231,485.54
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,357,632.12 $1,288,535.42
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 68,399.72 $69,425.71
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 58,085.16 $58,157.76
02079K107 ALPHABET INC-CL C US GOOG 1,128.13 $1,163,992.84
02079K305 ALPHABET INC-CL A US GOOGL 1,119.44 $1,161,019.24
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 53,195.88 $51,993.65
023135106 AMAZON.COM INC US AMZN 629.86 $911,628.50
02319V103 AMBEV SA-ADR BR ABEV 402,409.13 $2,925,514.38
0237400 DIAGEO PLC GB DGE LN 80,586.36 $2,725,401.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,398.12 $53,995.50
0263494 BAE SYSTEMS PLC GB BA/ LN 4,689.21 $38,365.57
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,780.73 $75,917.03
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 880,479.75 $862,811.07
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 494,525.32 $501,817.19
03027X100 AMERICAN TOWER REIT INC US AMT 5,897.55 $857,150.40
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 40,751.29 $41,267.43
03064D108 AMERICOLD REALTY TRUST US COLD 1,241.51 $23,688.00
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 891,878.86 $855,314.85
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,670.09 $68,056.31
0405207 HALMA PLC GB HLMA LN 3,590.56 $59,435.24
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 788,743.28 $840,803.17
0490656 KERRY GROUP PLC-A IE KYGA LN 1,005.96 $101,683.80
053332102 AUTOZONE INC US AZO 338.62 $219,659.68
053484101 AVALONBAY COMMUNITIES INC US AVB 1,018.12 $167,440.77
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 2,343.59 $81,439.83
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 5,902.86 $38,208.45
058498106 BALL CORP US BLL 62,069.14 $2,464,765.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 490,725.62 $489,760.26
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 31,203.62 $2,529,677.43
09062X103 BIOGEN IDEC INC US BIIB 6,974.57 $1,909,776.88
09247X101 BLACKROCK INC US BLK 3,418.94 $1,852,108.56
0946580 WEIR GROUP PLC/THE GB WEIR LN 7,195.32 $201,696.20
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,981.7 $16,844.47
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,189,352.99 $1,274,595.92
09857L108 BOOKING HOLDINGS INC US BKNG 2,419.38 $5,033,253.50
101121101 BOSTON PROPERTIES INC US BXP 843.33 $103,914.89
105368203 BRANDYWINE REALTY TRUST US BDN 2,536.23 $40,275.33
110122108 BRISTOL MYERS SQUIBB CO US BMY 19,045.51 $1,204,628.62
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,344.47 $77,562.40
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 140,327.38 $132,240.31
12508E101 CDK GLOBAL INC US CDK 2,321.7 $147,056.28
125269100 CF INDUSTRIES HOLDINGS INC US CF 2,945.4 $111,129.93
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 744,742.28 $742,880.43
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 128,656.49 $122,384.49
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 362,288.45 $336,447.14
13321L108 CAMECO CORP CA CCJ 3,876.22 $35,234.86
134429109 CAMPBELL SOUP CO US CPB 6,327.26 $274,033.45
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 6,231.43 $77,705.90
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 87,800.5 $87,690.75
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 118,885.46 $113,238.40
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 58,085.16 $57,286.49
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 72,471.19 $80,171.25
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,782.2 $49,562.98
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 868,537.1 $1,315,230.08
191216100 COCA COLA CO/THE US KO 5,453.53 $236,846.73
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 34,199.86 $34,285.36
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 5,156.36 $28,978.73
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,284.67 $26,284.35
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,024.24 $77,844.01
21871N101 CORECIVIC INC US CXW 3,576.88 $69,820.77
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 758,884.15 $869,878.74
222795106 COUSINS PROPERTIES INC US CUZ 13,054.3 $113,311.29
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 60,528.54 $59,015.33
22822V101 CROWN CASTLE INTL CORP US CCI 597.96 $65,541.88
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 254,188.39 $237,493.80
229663109 CUBESMART US CUBE 1,771.07 $49,944.03
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 34,199.86 $36,080.85
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 4,971.34 $69,803.60
23918K108 DAVITA INC. US DVA 58,395.56 $3,850,602.91
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 94,456.63 $91,297.06
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 13,756.94 $42,103.20
25271C102 DIAMOND OFFSHORE DRILLING US DO 49,669.04 $728,148.15
253393102 DICK'S SPORTING GOODS INC US DKS 7,087.39 $248,412.85
253868103 DIGITAL REALTY TRUST INC US DLR 1,276.79 $134,548.54
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 36,376.27 $121,154.19
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 128,656.49 $129,299.77
269246401 ETRADE FINANCIAL CORP US ETFC 24,764.74 $1,372,214.21
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 345,244.73 $336,081.02
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,546.67 $125,155.87
277276101 EASTGROUP PROPERTIES US EGP 217.14 $17,948.94
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 5,448.55 $104,966.08
28140H203 EDUCATION REALTY TRUST INC US EDR 531.35 $17,401.60
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 662,260.92 $666,874.58
285512109 ELECTRONIC ARTS US EA 16,820.7 $2,039,342.26
2866857 LUNDIN MINING CORP CA LUN CN 108,979.5 $714,772.18
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 345,244.73 $330,943.81
294429105 EQUIFAX INC US EFX 12,702.87 $1,496,524.92
29444U700 EQUINIX INC US EQIX 558.87 $233,685.33
294628102 EQUITY COMMONWEALTH US EQC 1,212.47 $37,186.32
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 657.4 $57,699.71
29476L107 EQUITY RESIDENTIAL US EQR 1,267.57 $78,107.75
297178105 ESSEX PROPERTY TRUST INC US ESS 231.26 $55,658.71
298736109 EURONET WORLDWIDE INC US EEFT 18,052.07 $1,424,669.13
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,168,409.45 $1,150,120.34
30225T102 EXTRA SPACE STORAGE INC US EXR 874.54 $76,400.12
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 100,979.22 $100,722.12
30286XAN9 FREMF 2015-K43 B FLT 3.73459 02/25/2048 US 797,938.16 $797,577.25
30290HAE8 FREMF 2012-K708 FLT 3.75093 02/25/2045 US 151,988.22 $153,018.37
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 512,960.25 $515,902.59
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 55,347,437.4 $214,936.24
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 664,948.47 $679,429.05
30303M102 FACEBOOK INC -A US FB 22,195.13 $3,546,560.52
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 119,623.32 $131,390.30
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 73,497.71 $80,543.65
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 62,801.09 $70,478.29
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,303.69 $5,517.37
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 12,413.54 $12,933.29
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,562.16 $8,904.89
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,587.77 $6,885.60
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,671.91 $12,198.63
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 649,682.97 $682,936.20
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 109,937.36 $120,582.39
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 369,319.41 $391,925.90
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 376,404.29 $398,081.38
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 198,236.08 $209,027.90
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 312,625.7 $332,722.27
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 415,964.31 $427,497.06
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 453,492.75 $465,943.60
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 18,333.92 $18,619.48
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 5,653,626.07 $143,477.16
3137ADTK3 FHMS K014 X1 FLT 1.17939 04/25/2021 US 1,378,832.43 $41,722.78
3137AJMG6 FMHS K016 X1 FLT 1.52075 10/25/2021 US 1,648,881.01 $72,831.90
3137AL6W4 FHMS K706 X1 FLT 1.54720 10/25/2018 US 2,360,409.08 $12,752.58
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 11,097,260.3 $451,386.61
3137AUPF0 FHMS K021 x1 FLT 1.46192 06/25/2022 US 4,818,949.17 $243,271.64
3137B3NB0 FHMS K030 X1 FLT 0.20508 04/25/2023 US 18,088,234.32 $163,016.59
3137B4GZ3 FHMS K032 X1 FLT 0.10903 05/25/2023 US 11,618,551.02 $63,596.46
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 1,231,104.59 $1,262,222.97
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 1,063,917.55 $1,059,415.79
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 1,215,905.77 $1,216,035.75
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 98,519.33 $104,144.86
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 47,096.01 $49,779.11
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 646,063.77 $683,425.17
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65200 01/01/2049 US 1,377,639.77 $1,492,604.49
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 266,740.57 $293,119.26
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 139,875.15 $153,730.77
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 859,343.23 $862,122.90
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 285,935.05 $294,000.38
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 661,860.31 $679,841.64
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 9,318.58 $9,685.80
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 11,572.24 $12,021.60
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 84,914.19 $87,414.51
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 102,175.23 $105,211.25
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 251,932.45 $276,774.86
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 49,579.07 $54,289.44
31412SY41 FEDERAL NATL MTG ASSN 933731 5.50000 04/01/2038 US 195,893.02 $214,248.25
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4,854.76 $4,959.08
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 57,571.19 $59,183.84
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 555,124.73 $586,486.63
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 364,414.43 $384,886.68
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 227,244.59 $221,840.19
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 20,462.85 $22,952.05
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 8,220.49 $8,598.58
31418MSR4 FEDERAL NATL MTG ASSN AD0527 5.50000 06/01/2039 US 47,549.91 $52,051.05
31428X106 FEDEX CORPORATION US FDX 8,100.45 $1,945,000.22
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,681.43 $78,378.24
345605109 FOREST CITY REALTY TRUST - A US FCE/A 1,883.71 $38,164.06
35671D857 FREEPORT-MCMORAN INC US FCX 10,210.52 $179,398.84
357081AE8 FREMF 2015-K720 B FLT 3.38864 07/25/2022 US 406,568.49 $403,261.30
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 42,071.04 $42,702.54
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 911,929.33 $913,434.47
36174X101 GGP INC US GGP 2,743.32 $56,128.25
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 239.07 $242.47
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 199,104.57 $196,792.71
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 23,324.47 $23,659.20
371559105 GENESEE & WYOMING INC -CL A US GWR 17,531.57 $1,241,059.91
374297109 GETTY REALTY CORP US GTY 1,828.61 $46,117.46
37950E366 GLOBAL X MSCI GREECE ETF GR 9,154.15 $88,795.23
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 136,527.67 $137,073.78
37954A204 GLOBAL MEDICAL REIT INC US GMRE 3,047.59 $21,180.73
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 66,228.1 $66,062.53
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 827.08 $54,388.61
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 278.23 $27,722.98
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 1,672.88 $50,755.30
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 30,128.39 $31,634.81
40414L109 HCP INC US HCP 3,326.91 $77,284.08
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 56,457.07 $54,763.36
4116099 BPER BANCA IT BPE IM 11,939.14 $66,574.30
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,746.64 $46,198.73
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 85,498.39 $84,643.41
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 90,385.16 $89,594.29
44053FAA8 HORIZON PHARMA INC/HORIZ 8.75000 11/01/2024 US 117,790.87 $125,447.28
44107P104 HOST MARRIOTT CORP US HST 2,208.34 $41,163.51
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 134,356.05 $131,668.93
4457624 TRIGANO SA FR TRI FP 529.84 $95,902.72
4497749 KBC GROEP NV BE KBC BB 1,154.16 $100,503.24
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 100,427.96 $97,164.05
45337C102 INCYTE CORP US INCY 31,895.9 $2,657,885.19
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,219.41 $29,554.22
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 90,659.44 $88,166.30
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 66,228.1 $68,501.25
46115HAT4 INTESA SANPAOLO SPA 5.01700 06/26/2024 IT 75,994.11 $74,956.64
46115HBD8 INTESA SANPAOLO SPA 3.87500 01/12/2028 IT 351,762.09 $331,772.50
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88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 891,878.86 $859,039.44
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B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,823,858.65 $101,910.36
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BBG00K1PWX55 LULU US 03/29/18 C90 CA -61.18 -$183.53
BBG00K4117D7 QRVO US 04/20/18 P67.5 US -80.93 -$10,926.05
BBG00K4BM7W1 UL US 04/20/18 P47.5 GB -114.37 -$571.86
BBG00K5JF822 MDT US 04/06/18 P77.5 IE -70.67 -$1,413.49
BBG00K996BS5 AMZN US 04/27/18 P1350 US -3.8 -$13,678.94
BBG00KCSQKF1 SCHW US 04/20/18 P50.5 US -109.05 -$10,905.15
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 3,134.86 $61,971.69
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 75,994.11 $72,669.37
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 22,922.4 $40,727.87
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 3,213.85 $59,021.17
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 75,404.76 $75,064.97
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 31,745.94 $1,704,108.32
BNBNSG0 EURONEXT NV NL ENX FP 1,993.45 $146,118.15
BNGN9Z1 FINECOBANK SPA IT FBK IM 26,423.55 $318,041.50
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 959.5 $19,524.16
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 54,639.56 $1,717,795.94
BVRZ8L1 AENA SA ES AENA SM 948.96 $191,352.26
BVSS790 ELIS SA FR ELIS FP 2,019.51 $50,004.94
BYXS699 QIAGEN N.V. NL QIA GR 2,068.7 $66,877.62
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 1,211.16 $44,235.29
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 33,399.26 $3,672,144.19
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 77,990.77 $74,160.28
BYZFYS3 SPIE SA FR SPIE FP 4,358.75 $96,443.51
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 12,311.43 $74,993.88
BYZR014 AMUNDI SA FR AMUN FP 1,520.34 $122,094.24
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,726.64 $110,921.35
BZ3C3Q4 BANKIA SA ES BKIA SM 37,316.67 $167,401.11
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 143,340.24 $48,064.87
G02602103 AMDOCS LTD GG DOX 5,193.54 $346,512.79
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 3,990.04 $215,142.88
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 5,062.73 $152,843.78
G3157S106 ENSCO INTERNATIONAL INC US ESV 81,816.6 $359,174.88
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 74,099.28 $76,878.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 2,538.22 $62,744.68
G57279104 LUXOFT HOLDING INC CH LXFT 423.46 $17,340.61
G5960L103 MEDTRONIC INC IE MDT 40,619.86 $3,258,525.42
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 7,103.47 $272,205.13
G97822103 PERRIGO CO PLC IE PRGO 5,713.72 $476,181.49
H8817H100 TRANSOCEAN LTD US RIG 114,953.25 $1,138,037.21
N47279109 INTERXION HOLDING NX NL INXN 1,873.93 $116,390.03
N72482123 QIAGEN N.V. ADR NL QGEN 9,891.89 $319,606.93
USD US DOLLAR US 2,458,698.73 $2,458,698.73

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

Daily Price

$23.33

Daily $ Change

-$0.14

Daily % Change

-0.60%

as of 04/19/2018

CUSIP

563821164

Inception Date

01/06/2005

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a moderately growth-oriented mix of securities 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 38% - 74%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Annualized Performance

As of 03/31/2018

YTD

-0.09%

1 Year

8.89%

3 Year

4.30%

5 Year

6.02%

10 Year

5.97%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

6.85%

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

Expense Ratio

Gross 0.89%
Net 0.89%*

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

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 10.61%
TREASURY BONDS 5.04%
GOVERNMENT AGENCY 4.23%
QORVO INC 2.13%
BOOKING HOLDINGS INC 2.11%
DAVITA INC. 1.62%
REGENERON PHARMACEUTICALS INC 1.56%
ANHEUSER-BUSCH INBEV SA/NV 1.54%
FACEBOOK INC -A 1.49%
MEDTRONIC INC 1.37%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Stocks
53.95%
Bonds
45.03%
Cash
1.02%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities
18.02%
Small Capitalization
0.88%
Mid Capitalization
6.96%
Large Capitalization
28.09%
Long Term Fixed Income
13.51%
Intermediate Term Fixed Income
22.70%
Short Term Fixed Income
8.82%
Cash
1.02%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 72,471.19 $71,565.30
00206REM0 AT&T INC 3.90000 08/14/2027 US 860,937.69 $866,864.85
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,329,896.93 $1,306,344.46
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 260,569.16 $269,037.66
004239109 ACADIA REALTY TRUST US AKR 1,027.09 $25,266.30
0045614 ANTOFAGASTA PLC GB ANTO LN 57,017.7 $737,172.03
0053673 ASHTEAD GROUP PLC GB AHT LN 3,817.29 $104,084.70
00724F101 ADOBE SYS INC US ADBE 1,625.43 $351,223.43
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 718,144.34 $735,618.97
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 6,956.12 $154,982.40
008492100 AGREE REALTY CORP US ADC 454.92 $21,854.13
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 32,300.01 $33,592.01
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 119,210.58 $128,896.44
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 464.96 $58,068.30
01609W102 ALIBABA GROUP - ADR CN BABA 12,158.03 $2,231,485.54
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,357,632.12 $1,288,535.42
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 68,399.72 $69,425.71
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 58,085.16 $58,157.76
02079K107 ALPHABET INC-CL C US GOOG 1,128.13 $1,163,992.84
02079K305 ALPHABET INC-CL A US GOOGL 1,119.44 $1,161,019.24
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 53,195.88 $51,993.65
023135106 AMAZON.COM INC US AMZN 629.86 $911,628.50
02319V103 AMBEV SA-ADR BR ABEV 402,409.13 $2,925,514.38
0237400 DIAGEO PLC GB DGE LN 80,586.36 $2,725,401.00
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,398.12 $53,995.50
0263494 BAE SYSTEMS PLC GB BA/ LN 4,689.21 $38,365.57
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,780.73 $75,917.03
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 880,479.75 $862,811.07
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 494,525.32 $501,817.19
03027X100 AMERICAN TOWER REIT INC US AMT 5,897.55 $857,150.40
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 40,751.29 $41,267.43
03064D108 AMERICOLD REALTY TRUST US COLD 1,241.51 $23,688.00
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 891,878.86 $855,314.85
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,670.09 $68,056.31
0405207 HALMA PLC GB HLMA LN 3,590.56 $59,435.24
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 788,743.28 $840,803.17
0490656 KERRY GROUP PLC-A IE KYGA LN 1,005.96 $101,683.80
053332102 AUTOZONE INC US AZO 338.62 $219,659.68
053484101 AVALONBAY COMMUNITIES INC US AVB 1,018.12 $167,440.77
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 2,343.59 $81,439.83
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 5,902.86 $38,208.45
058498106 BALL CORP US BLL 62,069.14 $2,464,765.61
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 490,725.62 $489,760.26
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 31,203.62 $2,529,677.43
09062X103 BIOGEN IDEC INC US BIIB 6,974.57 $1,909,776.88
09247X101 BLACKROCK INC US BLK 3,418.94 $1,852,108.56
0946580 WEIR GROUP PLC/THE GB WEIR LN 7,195.32 $201,696.20
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,981.7 $16,844.47
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,189,352.99 $1,274,595.92
09857L108 BOOKING HOLDINGS INC US BKNG 2,419.38 $5,033,253.50
101121101 BOSTON PROPERTIES INC US BXP 843.33 $103,914.89
105368203 BRANDYWINE REALTY TRUST US BDN 2,536.23 $40,275.33
110122108 BRISTOL MYERS SQUIBB CO US BMY 19,045.51 $1,204,628.62
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 1,344.47 $77,562.40
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 140,327.38 $132,240.31
12508E101 CDK GLOBAL INC US CDK 2,321.7 $147,056.28
125269100 CF INDUSTRIES HOLDINGS INC US CF 2,945.4 $111,129.93
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 744,742.28 $742,880.43
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 128,656.49 $122,384.49
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 362,288.45 $336,447.14
13321L108 CAMECO CORP CA CCJ 3,876.22 $35,234.86
134429109 CAMPBELL SOUP CO US CPB 6,327.26 $274,033.45
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 6,231.43 $77,705.90
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 87,800.5 $87,690.75
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 118,885.46 $113,238.40
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 58,085.16 $57,286.49
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 72,471.19 $80,171.25
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,782.2 $49,562.98
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 868,537.1 $1,315,230.08
191216100 COCA COLA CO/THE US KO 5,453.53 $236,846.73
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 34,199.86 $34,285.36
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 5,156.36 $28,978.73
198287203 COLUMBIA PROPERTY TRUST INC US CXP 1,284.67 $26,284.35
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 3,024.24 $77,844.01
21871N101 CORECIVIC INC US CXW 3,576.88 $69,820.77
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 758,884.15 $869,878.74
222795106 COUSINS PROPERTIES INC US CUZ 13,054.3 $113,311.29
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 60,528.54 $59,015.33
22822V101 CROWN CASTLE INTL CORP US CCI 597.96 $65,541.88
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 254,188.39 $237,493.80
229663109 CUBESMART US CUBE 1,771.07 $49,944.03
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 34,199.86 $36,080.85
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 4,971.34 $69,803.60
23918K108 DAVITA INC. US DVA 58,395.56 $3,850,602.91
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 94,456.63 $91,297.06
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 13,756.94 $42,103.20
25271C102 DIAMOND OFFSHORE DRILLING US DO 49,669.04 $728,148.15
253393102 DICK'S SPORTING GOODS INC US DKS 7,087.39 $248,412.85
253868103 DIGITAL REALTY TRUST INC US DLR 1,276.79 $134,548.54
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 36,376.27 $121,154.19
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 128,656.49 $129,299.77
269246401 ETRADE FINANCIAL CORP US ETFC 24,764.74 $1,372,214.21
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 345,244.73 $336,081.02
2715777 QUEBECOR INC -CL B CA QBR/B CN 6,546.67 $125,155.87
277276101 EASTGROUP PROPERTIES US EGP 217.14 $17,948.94
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 5,448.55 $104,966.08
28140H203 EDUCATION REALTY TRUST INC US EDR 531.35 $17,401.60
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 662,260.92 $666,874.58
285512109 ELECTRONIC ARTS US EA 16,820.7 $2,039,342.26
2866857 LUNDIN MINING CORP CA LUN CN 108,979.5 $714,772.18
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 345,244.73 $330,943.81
294429105 EQUIFAX INC US EFX 12,702.87 $1,496,524.92
29444U700 EQUINIX INC US EQIX 558.87 $233,685.33
294628102 EQUITY COMMONWEALTH US EQC 1,212.47 $37,186.32
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 657.4 $57,699.71
29476L107 EQUITY RESIDENTIAL US EQR 1,267.57 $78,107.75
297178105 ESSEX PROPERTY TRUST INC US ESS 231.26 $55,658.71
298736109 EURONET WORLDWIDE INC US EEFT 18,052.07 $1,424,669.13
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,168,409.45 $1,150,120.34
30225T102 EXTRA SPACE STORAGE INC US EXR 874.54 $76,400.12
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 100,979.22 $100,722.12
30286XAN9 FREMF 2015-K43 B FLT 3.73459 02/25/2048 US 797,938.16 $797,577.25
30290HAE8 FREMF 2012-K708 FLT 3.75093 02/25/2045 US 151,988.22 $153,018.37
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 512,960.25 $515,902.59
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 55,347,437.4 $214,936.24
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 664,948.47 $679,429.05
30303M102 FACEBOOK INC -A US FB 22,195.13 $3,546,560.52
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 119,623.32 $131,390.30
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 73,497.71 $80,543.65
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 62,801.09 $70,478.29
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 5,303.69 $5,517.37
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 12,413.54 $12,933.29
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,562.16 $8,904.89
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,587.77 $6,885.60
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,671.91 $12,198.63
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 649,682.97 $682,936.20
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 109,937.36 $120,582.39
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 369,319.41 $391,925.90
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 376,404.29 $398,081.38
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 198,236.08 $209,027.90
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 312,625.7 $332,722.27
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 415,964.31 $427,497.06
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 453,492.75 $465,943.60
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 18,333.92 $18,619.48
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 5,653,626.07 $143,477.16
3137ADTK3 FHMS K014 X1 FLT 1.17939 04/25/2021 US 1,378,832.43 $41,722.78
3137AJMG6 FMHS K016 X1 FLT 1.52075 10/25/2021 US 1,648,881.01 $72,831.90
3137AL6W4 FHMS K706 X1 FLT 1.54720 10/25/2018 US 2,360,409.08 $12,752.58
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 11,097,260.3 $451,386.61
3137AUPF0 FHMS K021 x1 FLT 1.46192 06/25/2022 US 4,818,949.17 $243,271.64
3137B3NB0 FHMS K030 X1 FLT 0.20508 04/25/2023 US 18,088,234.32 $163,016.59
3137B4GZ3 FHMS K032 X1 FLT 0.10903 05/25/2023 US 11,618,551.02 $63,596.46
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 1,231,104.59 $1,262,222.97
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 1,063,917.55 $1,059,415.79
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 1,215,905.77 $1,216,035.75
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 98,519.33 $104,144.86
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 47,096.01 $49,779.11
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 646,063.77 $683,425.17
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65200 01/01/2049 US 1,377,639.77 $1,492,604.49
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 266,740.57 $293,119.26
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 139,875.15 $153,730.77
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 859,343.23 $862,122.90
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 285,935.05 $294,000.38
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 661,860.31 $679,841.64
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 9,318.58 $9,685.80
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 11,572.24 $12,021.60
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 84,914.19 $87,414.51
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 102,175.23 $105,211.25
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 251,932.45 $276,774.86
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 49,579.07 $54,289.44
31412SY41 FEDERAL NATL MTG ASSN 933731 5.50000 04/01/2038 US 195,893.02 $214,248.25
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4,854.76 $4,959.08
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 57,571.19 $59,183.84
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 555,124.73 $586,486.63
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 364,414.43 $384,886.68
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 227,244.59 $221,840.19
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 20,462.85 $22,952.05
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45337C102 INCYTE CORP US INCY 31,895.9 $2,657,885.19
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46187BAB9 IHSFR 2017-SFR2 B 2.95820 12/17/2036 US 140,589.1 $141,266.41
46187W107 INVITATION HOMES INC US INVH 2,990.53 $68,273.84
464286608 ISHARES MSCI EMU XX 3,581.92 $155,276.16
464286780 ISHARES MSCI SOUTH AFRICA ET ZA 1,436.19 $98,666.08
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46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 1,240,379.76 $1,286,993.23
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478160104 JOHNSON & JOHNSON US JNJ 19,714.36 $2,526,394.98
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4821100 SOLVAY SA BE SOLB BB 708.75 $98,501.65
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5107401 BEIERSDORF AG DE BEI GR 2,669.63 $302,542.81
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515110BU7 LANDWIRTSCH. RENTENBANK 2.37500 02/21/2020 DE 531,958.77 $531,357.66
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5263574 FLSMIDTH & CO A/S DK FLS DC 641.42 $41,470.99
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5330047 DASSAULT SYSTEMES SA FR DSY FP 651.46 $88,593.77
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54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 2,428.84 $51,782.95
5458314 AKZO NOBEL NL AKZA NA 3,464.4 $327,326.67
550021109 LULULEMON - ADR CA LULU 25,095.71 $2,236,529.53
554382101 THE MACERICH CO US MAC 540.95 $30,304.28
5545670 JUNGHEINRICH AG DE JUN3 GR 2,778.19 $123,131.49
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 482,039.14 $496,565.62
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5713422 METSO OYJ FI METSO FH 2,804 $88,467.59
5727973 SIEMENS AG-REG DE SIE GR 1,484.78 $189,453.94
57636Q104 MASTERCARD INC-CLASS A US MA 16,310.79 $2,856,998.73
5852842 ACCOR SA FR AC FP 1,186.76 $64,114.54
58933Y105 MERCK & CO INC US MRK 21,279.39 $1,159,088.42
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 70,299.57 $66,433.09
594918104 MICROSOFT CORP US MSFT 33,478.93 $3,055,621.75
59522J103 MID-AMERICA APARTMENT COMM US MAA 993.97 $90,689.60
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 3,695.47 $154,212.13
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 474,983.26 $496,695.52
61744YAG3 MORGAN STANLEY FLT 3.01070 05/08/2024 US 1,259,921.82 $1,280,130.97
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6250724 DAIKIN INDUSTRIES LTD JP 6367 JP 667.74 $74,181.49
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 78,716.79 $69,828.33
62944TAE5 NVR INC 3.95000 09/15/2022 US 528,159.07 $538,779.10
6356934 FANUC LTD JP 6954 JP 516.17 $132,837.07
637417106 NATIONAL RETAIL PROPERTIES US NNN 845.23 $33,183.55
64110W102 NETEASE.COM INC- ADR CN NTES 195.44 $54,799.61
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 18,636.92 $135,744.01
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 260,996.8 $263,432.03
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 470,203.75 $474,884.30
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 812,222.86 $819,747.70
6490995 KEYENCE CORP JP 6861 JP 382.18 $238,734.86
654106103 NIKE INC CLASS B US NKE 3,440.56 $228,590.64
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 74,103.29 $104,632.24
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 166,656.06 $169,989.18
66987V109 NOVARTIS AG- REG CH NVS 37,938.63 $3,067,337.84
67087MAA4 OBP DEPOSITOR LLC TRUST 4.64620 07/15/2045 US 56,995.58 $58,806.77
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 1,577.33 $390,199.85
680665205 OLIN CORP US OLN 5,386.67 $163,701.01
683235AA3 ONTARIO (PROVINCE OF) 2.00000 09/27/2018 CA 341,973.5 $341,662.19
68323ADY7 ONTARIO (PROVINCE OF) 1.25000 06/17/2019 CA 341,973.5 $337,308.98
6865504 SUZUKI MOTOR CORP JP 7269 JP 1,378.92 $74,865.93
69007J106 OUTFRONT MEDIA INC US OUT 1,635.19 $30,643.54
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 110,470.75 $112,956.35
697660207 PAMPA ENERGIA SA AR PAM 837.66 $49,924.75
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 90,113.4 $85,382.44
7110902 TECAN GROUP AG-REG CH TECN SW 270.62 $57,313.36
7123870 NESTLE SA-REGISTERED CH NESN SW 4,090.71 $323,335.70
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 333,845.61 $335,685.32
7147892 TEMENOS GROUP AG-REG CH TEMN SW 383.82 $46,023.64
71654QCJ9 PETROLEOS MEXICANOS 6.35000 02/12/2048 MX 1,330,490.65 $1,285,586.59
71943U104 PHYSICIANS REALTY TRUST US DOC 4,637.09 $72,199.44
7262610 CREDIT AGRICOLE SA FR ACA FP 5,897.58 $96,160.28
729640102 PLYMOUTH INDUSTRIAL REIT INC US 640.63 $11,005.94
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 111,286.05 $113,511.77
7339451 ORPEA SA FR ORP FP 653.63 $83,002.92
7380062 AAREAL BANK AG DE ARL GR 2,227.17 $106,249.46
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 2,957.61 $156,176.66
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 1,301,154.98 $1,278,262.05
74340W103 PROLOGIS US PLD 3,186.83 $200,738.26
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 802,311.51 $844,432.86
74460D109 PUBLIC STORAGE INC US PSA 565.38 $113,297.20
74736K101 QORVO INC US QRVO 71,936.27 $5,067,910.44
7520794 BANQUE CANTONALE VAUDOIS-REG CH BCVN SW 78.72 $63,716.91
758849103 REGENCY CENTERS CORP US REG 781.23 $46,076.67
75886F107 REGENERON PHARMACEUTICALS INC US REGN 10,829.97 $3,729,409.48
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 811.03 $23,349.43
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 132,456.2 $137,093.49
7759435 ILIAD SA FR ILD FP 441.91 $91,486.89
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 1,594.71 $104,501.23
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 287.3 $35,294.55
78408XAD3 SCGT 2013-SRP1 AJ FLT 3.97660 11/15/2026 US 1,177,908.71 $1,175,044.98
78410G104 SBA COMMUNICATIONS CORP US SBAC 5,194.54 $887,850.48
78442FET1 SLM CORP 6.12500 03/25/2024 US 68,399.72 $68,143.22
78442PGC4 SLM CORP 5.12500 04/05/2022 US 88,485.31 $89,370.16
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 306,160.61 $334,633.48
80282KAS5 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 876,680.04 $856,345.41
806857108 SCHLUMBERGER LTD NL SLB 39,035.23 $2,528,701.98
808513105 CHARLES SCHWAB CORP/THE US SCHW 26,060.95 $1,360,902.78
81211K100 SEALED AIR CORP US SEE 39,089.91 $1,672,657.20
812578102 SEATTLE GENETICS INC US SGEN 43,148.74 $2,258,405.16
81663AAD7 SEMGROUP CORP 6.37500 03/15/2025 US 120,241.78 $114,830.90
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 212,120.85 $205,955.13
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 300,304.36 $291,512.05
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 254,762 $232,868.52
81762P102 SERVICENOW INC US NOW 16,150.81 $2,672,151.74
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 64,600.01 $61,693.01
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 59,985.01 $60,134.97
828806109 SIMON PROPERTY GROUP INC US SPG 1,464.08 $225,980.61
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 62,428.39 $59,806.40
83088M102 SKYWORKS SOLUTIONS INC US SWKS 22,244.97 $2,230,280.21
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 137,817.19 $136,744.49
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 85,493.37 $84,094.39
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 310,259.92 $308,815.38
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 363,757.59 $365,627.90
84265V105 SOUTHERN COPPER CORPORATION US SCCO 2,675.54 $144,960.55
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 94,456.63 $91,670.16
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 30,128.39 $31,069.90
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 30,128.39 $31,333.52
85208M102 SPROUTS FARMERS MARKET INC US SFM 6,668.32 $156,505.52
85254J102 STAG INDUSTRIAL INC US STAG 2,493.62 $59,647.28
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 60,256.77 $58,750.36
85571XAA5 SRPT 2014-STAR A FLTG RATE 2.99660 11/15/2027 US 527,863.59 $528,389.66
862121100 STORE CAPITAL CORP US STOR 1,728.99 $42,913.63
866674104 SUN COMMUNITIES US SUI 883.5 $80,725.10
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 2,745.23 $41,782.38
87243QAB2 TENET HEALTHCARE CORP 6.00000 10/01/2020 US 34,199.86 $35,354.10
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 88,485.31 $90,033.80
876664103 TAUBMAN CTRS INC US TCO 277.67 $15,802.22
87677QAA9 TXEZ 2016-1A 3.13100 06/15/2028 US 251,567.33 $250,251.63
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 77,898.98 $66,214.13
88032WAG1 TENCENT HOLDINGS LTD 3.59500 01/19/2028 KY 891,878.86 $859,039.44
88146M101 TERRENO REALTY CORP US TRNO 666.08 $22,986.53
88161DAA9 TESLA 2018-A A 2.32000 12/20/2019 US 415,292.76 $414,469.19
882508104 TEXAS INSTRUMENTS INC US TXN 11,743.95 $1,220,078.74
883556102 THERMO FISHER SCIENTIFIC INC US TMO 613.92 $126,749.79
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 1,099,674.62 $1,083,826.77
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 2,325.7 $47,304.75
89613BAA5 TAH 2013-SFR1 A 2.58900 11/17/2033 US 850,450.89 $833,014.95
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 284,977.91 $278,655.71
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 106,399.28 $99,217.33
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 100,156.19 $103,160.88
902653104 UDR INC US UDR 2,519.12 $89,731.01
903002103 UMH PROPERTIES INC US UMH 2,334.55 $31,306.33
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 192,705.45 $185,960.75
90384S303 ULTA BEAUTY INC US ULTA 1,060.43 $216,614.22
904767704 UNILEVER PLC - ADR GB UL 42,111.6 $2,339,720.48
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 1,722,592.35 $2,337,477.06
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 2,742,357.57 $3,510,217.69
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 1,459,700.77 $1,421,505.42
912810RK6 US TREASURY N/B 2.50000 02/15/2045 US 1,820,058.95 $1,661,870.23
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 4,471,246.63 $4,493,078.88
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 2,203,829.2 $2,204,948.33
912828D23 US TREASURY N/B 1.62500 04/30/2019 US 4,369,661.35 $4,344,911.33
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 1,400,183.31 $1,394,731.25
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 4,426,656.94 $4,341,755.03
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,410,153.21 $2,216,870.23
912828RT9 US TREASURY N/B 1.37500 11/30/2018 US 2,355,817.43 $2,345,694.76
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 5,818,608.19 $5,431,079.81
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 1,416,620.41 $1,393,032.92
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 4,541,688.76 $4,406,325.13
91704F104 URBAN EDGE PROPERTIES US UE 3,472.67 $74,141.42
92276F100 VENTAS INC US VTR 708.43 $35,088.59
92339V100 VEREIT INC US VER 5,172.32 $35,999.38
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 1,196,952.41 $1,326,377.54
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 5,526.11 $900,644.72
92826C839 VISA INC - CLASS A SHARES US V 22,295.55 $2,666,993.57
92903PAC3 VNO 2010 - VNO A2FX 4.00350 09/13/2028 US 144,388.81 $148,377.82
929042109 VORNADO REALTY TRUST US VNO 1,171.76 $78,859.18
92936CAE9 WFRBS 2011-C4 A3 4.39400 06/15/2044 US 18,389.81 $18,518.18
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 94,184.87 $93,713.94
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 98,256.34 $97,028.13
94987MAB7 WELLS FARGO COMMERCIAL MORTGAGE 4.39300 11/15/2043 US 227,982.33 $235,366.77
95040Q104 WELLTOWER INC. US WELL 937.51 $51,028.69
962166104 WEYERHAEUSER CO US WY 47,202.2 $1,652,077.05
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 64,328.25 $64,489.07
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 56,457.07 $57,286.99
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 517,323.56 $494,580.50
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 291,211.73 $292,531.21
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 305,422.45 $302,673.99
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 66,228.1 $68,214.94
984245100 YPF S.A.-SPONSORED ADR AR YPF 2,255.39 $48,761.61
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 54,780.89 $1,871,315.17
AN7903213 SONGA BULK ASA 6.58875 06/13/2022 NO 75,994.11 $75,837.56
AP0787667 MPC CONTAINER SHIPS FLT 6.99814 09/22/2022 NL 75,994.11 $76,608.14
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 75,994.11 $75,804.13
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 5,092.21 $79,650.34
B037JC2 NEXITY FR NXI FP 1,612.35 $103,264.23
B0386J1 JYSKE BANK-REG DK JYSK DC 1,040.42 $61,857.37
B06JSP1 SYDBANK A/S DK SYDB DC 1,488.29 $54,976.16
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 5,257.22 $54,380.32
B11ZRK9 LEGRAND SA FR LR FP 1,170.71 $91,854.54
B138HB7 KAUFMAN & BROAD SA FR KOF FP 1,628.1 $85,678.32
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B283W97 CAIXABANK S.A ES CABK SM 58,282.22 $277,870.00
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BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 31,745.94 $1,704,108.32
BNBNSG0 EURONEXT NV NL ENX FP 1,993.45 $146,118.15
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BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 959.5 $19,524.16
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BYY8LS2 MAISONS DU MONDE SA FR MDM FP 1,211.16 $44,235.29
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 33,399.26 $3,672,144.19
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 77,990.77 $74,160.28
BYZFYS3 SPIE SA FR SPIE FP 4,358.75 $96,443.51
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 12,311.43 $74,993.88
BYZR014 AMUNDI SA FR AMUN FP 1,520.34 $122,094.24
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BZ3C3Q4 BANKIA SA ES BKIA SM 37,316.67 $167,401.11
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 143,340.24 $48,064.87
G02602103 AMDOCS LTD GG DOX 5,193.54 $346,512.79
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 3,990.04 $215,142.88
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 5,062.73 $152,843.78
G3157S106 ENSCO INTERNATIONAL INC US ESV 81,816.6 $359,174.88
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 74,099.28 $76,878.00
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 2,538.22 $62,744.68
G57279104 LUXOFT HOLDING INC CH LXFT 423.46 $17,340.61
G5960L103 MEDTRONIC INC IE MDT 40,619.86 $3,258,525.42
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 7,103.47 $272,205.13
G97822103 PERRIGO CO PLC IE PRGO 5,713.72 $476,181.49
H8817H100 TRANSOCEAN LTD US RIG 114,953.25 $1,138,037.21
N47279109 INTERXION HOLDING NX NL INXN 1,873.93 $116,390.03
N72482123 QIAGEN N.V. ADR NL QGEN 9,891.89 $319,606.93
USD US DOLLAR US 2,458,698.73 $2,458,698.73

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 45 years of experience managing life cycle investment objectives. The firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.


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