Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a moderately growth-oriented mix of investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 36% - 68%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$30.03

Daily $ Change

$0.28

Daily % Change

0.93%

as of 06/23/2022

CUSIP

563821164

Inception Date

01/06/2005

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 05/31/2022

YTD

-10.73%

1 Year

-7.12%

3 Year

8.51%

5 Year

7.18%

10 Year

7.90%

Inception
(01/01/2000)

6.81%

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. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
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 05/31/2022

TREASURY NOTES 16.57%
GOVERNMENT AGENCY 4.71%
TREASURY BONDS 3.69%
AMAZON.COM INC 2.68%
MICROSOFT CORP 1.82%
JOHNSON & JOHNSON 1.70%
MASTERCARD INC-CLASS A 1.60%
VISA INC - CLASS A SHARES 1.58%
META PLATFORMS INC 1.48%
SBA COMMUNICATIONS CORP 1.44%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks 49.52%
Bonds 45.56%
Cash 4.92%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 13.45%
Small Capitalization 0.73%
Mid Capitalization 3.65%
Large Capitalization 31.69%
Long Term Fixed Income 15.18%
Intermediate Term Fixed Income 23.49%
Short Term Fixed Income 6.89%
Cash 4.92%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 307.96 $36,173.16
ACTIVISION INC US ATVI 8,384.39 $652,976.07
ADIDAS AG-SPONSORED ADR DE ADDYY 5,614.01 $556,572.87
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 337,880.09 $296,306.45
ADYEN NV UNSPON ADR NL ADYEY 42,839.34 $663,152.96
AGREE REALTY CORP US ADC 567.41 $39,474.96
AIR LIQUIDE-ADR FR AIQUY 31,582.3 $1,102,538.16
AIR LEASE CORP 3.62500 04/01/2027 US 322,819.53 $306,999.97
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 50,552.79 $53,036.89
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 654,707.78 $570,016.99
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 188,099.86 $156,469.99
ALLSTATE CORPORATION US ALL 120.1 $16,415.79
ALPHABET INC-CL A US GOOGL 505.64 $1,150,450.86
AMAZON.COM INC US AMZN 1,439.77 $3,461,474.78
AMAZON.COM INC 3.30000 04/13/2027 US 638,131.23 $637,543.35
DIAGEO PLC GB DGE LN 12,684.86 $589,354.59
AMERICAN HOMES 4 RENT- A US AMH 2,021.13 $74,700.88
AMERICAN TOWER REIT INC US AMT 302.36 $77,442.49
ANALOG DEVICES INC US ADI 177.62 $29,910.93
APPLE HOSPITALITY REIT INC US APLE 6,888.95 $115,114.42
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 46,127.95 $46,663.09
ARCHER-DANIELS-MIDLAND CO US ADM 202.89 $18,426.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 285,325.21 $271,316.16
AUTOMATIC DATA PROCESSING US ADP 122.69 $27,353.11
AVALONBAY COMMUNITIES INC US AVB 480.11 $99,843.30
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 844,520.72 $731,806.94
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 258,522.93 $261,720.69
BANK OF AMERICA CORP 2.68700 04/22/2032 US 532,797.1 $466,150.08
BARRICK GOLD CORP CA GOLD 19,822.7 $406,167.15
BAXTER INTERNATIONAL INC US BAX 156.57 $11,907.45
BEST BUY INC US BBY 112.79 $9,255.17
BIOMARIN PHARMACEUTICAL INC US BMRN 15,959.11 $1,199,007.65
BLACKROCK INC US BLK 884.97 $592,118.87
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 339,261.47 $295,169.56
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 337,189.4 $306,755.90
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,265.39 $103,839.62
BRANDYWINE REALTY TRUST US BDN 3,426.54 $38,205.96
BABS 2021-RM2 A 1.75000 10/25/2061 US 231,059.54 $209,059.18
BRISTOL MYERS SQUIBB CO US BMY 542.49 $40,930.58
BROADRIDGE FINANCIAL SOLUTIONS US BR 60.53 $8,850.18
JONAH ENERGY PARENT LLC US 1,908.32 $102,400.54
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 300,488.09 $275,676.91
SORT 2020-1 A2 1.99000 07/15/2060 US 247,451.26 $217,285.39
C.H. ROBINSON WORLDWIDE INC US CHRW 78.02 $8,465.43
CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,826.11 $15,807.69
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 248,648.32 $247,973.57
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 138,137.95 $135,586.24
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 85,479.1 $80,199.26
COTERRA ENERGY INC US CTRA 306.66 $10,527.58
CAMDEN PROPERTY TRUST US CPT 461.87 $66,273.54
CAMECO CORP CA CCJ 1,516.66 $37,112.62
CAMPBELL SOUP CO US CPB 174.34 $8,352.58
CANADIAN NATIONAL RAILWAY CO CA CNI 8,520.98 $969,517.05
CARETRUST REIT INC US CTRE 2,287.82 $42,393.39
CATERPILLAR INC US CAT 161.9 $34,946.77
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 756,633.33 $852,654.01
CENTURYLINK INC 7.50000 04/01/2024 US 143,842.05 $148,807.42
CHARTER COMMUNICATIONS INC-A US CHTR 2,236.88 $1,133,941.51
CHEVRON CORP US CVX 296.96 $51,866.70
CINCINNATI FINANCIAL CORP US CINF 82.73 $10,577.49
CISCO SYSTEMS INC US CSCO 1,011.31 $45,559.52
CITIGROUP INC US C 617.62 $32,987.24
CITIGROUP INC 1.46200 06/09/2027 US 510,228.7 $459,599.92
CLARK CNTY NV 1.51000 11/01/2028 US 140,900.71 $123,956.01
COCA COLA CO/THE US KO 17,426.38 $1,104,484.03
COLGATE-PALMOLIVE CO US CL 280.36 $22,095.04
COMCAST CORP-CL A US CMCSA 1,093.63 $48,425.82
COMMUNITY HEALTHCARE TRUST I US CHCT 1,191.94 $44,912.15
CONAGRA BRAND INC. US CAG 256.19 $8,426.11
CONOCOPHILLIPS US COP 275.85 $30,994.41
CONTROLADORA VUELA CIA DE AV MX VLRS 2,517.86 $39,228.26
COPART INC US CPRT 5,206.98 $596,355.36
COUSINS PROPERTIES INC US CUZ 2,821.9 $97,496.66
CAALT 2020-1A 2.01000 02/15/2029 US 188,714.68 $188,372.90
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 134,684.5 $126,355.22
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 396,740.92 $360,808.61
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,637.24 $44,337.03
CUMMINS INC US CMI 66.13 $13,828.55
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 73,213.12 $66,738.11
KIMBERLY CLARK DE MEXICO S.A.B. MX 55,937.91 $86,548.08
DEVON ENERGY CORPORATION US DVN 201.25 $15,073.73
DIAMONDBACK ENERGY INC US FANG 65.31 $9,928.04
DIGITAL REALTY TRUST INC US DLR 870.11 $121,458.74
DOLLAR GENERAL CORP US DG 3,082.11 $679,112.43
DOLLAR TREE STORES INC US DLTR 4,346.02 $696,797.47
DOW INC US DOW 214.92 $14,610.07
DUKE RLTY INVTS INC US DRE 1,968.8 $104,011.69
EOG RESOURCES INC US EOG 150.9 $20,667.82
EASTMAN CHEM CO US EMN 75.49 $8,315.60
EBAY INC US EBAY 189.3 $9,213.40
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 68,351 $64,770.06
ELECTRONIC ARTS US EA 4,985.84 $691,286.78
EMERSON ELEC CO US EMR 219.9 $19,496.41
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 715,236.82 $747,949.49
EQUINIX INC US EQIX 1,358.42 $933,353.77
EQUITY LIFESTYLE PROPERTIES US ELS 1,741.11 $131,802.04
ESSEX PROPERTY TRUST INC US ESS 295.8 $83,962.08
EXPEDIA GROUP INC 3.25000 02/15/2030 US 322,173.72 $284,879.48
EXTRA SPACE STORAGE INC US EXR 432.22 $77,021.67
FMC CORP US FMC 12,634.71 $1,548,763.19
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 152,731.27 $155,556.47
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 874,659.41 $859,689.87
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 50,441,969.55 $23,788.94
META PLATFORMS INC US FB 9,861.83 $1,909,644.30
FHLM POOL G03332 6.00000 10/01/2037 US 1,625.57 $1,800.26
FHLM POOL G05900 6.00000 03/01/2040 US 3,216.74 $3,582.75
FHLM POOL G05906 6.00000 04/01/2040 US 26,048.89 $28,783.38
FHLM POOL G06995 6.00000 05/01/2040 US 10,027.03 $11,117.95
FHLM POOL G13331 5.50000 10/01/2023 US 177.39 $180.33
FHLM POOL G12988 6.00000 01/01/2023 US 89.56 $89.82
FHLM POOL G13078 6.00000 03/01/2023 US 132.5 $132.99
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 145,039.97 $149,435.25
FHLM POOL C91780 4.50000 07/01/2034 US 143,680.97 $149,855.91
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 633,545.22 $609,543.26
FHLM POOL SD8230 4.50000 06/01/2052 US 444,819.96 $453,300.06
FHLM POOL K91364 4.50000 11/01/2033 US 17,145.29 $17,910.73
FHLM POOL K92059 4.50000 09/01/2034 US 112,122.21 $116,743.15
FHLM POOL G60034 4.50000 02/01/2045 US 75,798.15 $79,093.07
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 267,004.05 $266,360.18
FNR 2018-31 KP 3.50000 07/25/2047 US 13,726.18 $13,808.04
FHMS K030 X1 FLT 0.14558 04/25/2023 US 16,735,012.05 $19,461.65
FHMS K032 X1 FLT 0.06799 05/25/2023 US 11,010,303 $9,438.69
FHR 5189 CP 2.50000 06/25/2049 US 116,214.85 $108,065.99
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 34,182.1 $35,672.27
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 42,316.64 $44,161.44
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 588,019.47 $642,871.19
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,731.02 $10,684.60
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,003.74 $34,471.68
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 328,362.8 $325,168.89
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 614,247.03 $610,855.57
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 15.9 $15.90
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 10,135.87 $11,225.65
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 16,426.5 $17,047.26
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 122,452.62 $127,080.09
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 52,155.89 $52,187.55
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 670,939.43 $631,107.62
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 635,413.53 $623,349.36
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 630,579.98 $631,398.00
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 627,169.94 $634,755.56
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 5,047.21 $5,564.73
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,675.72 $10,684.43
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 972.73 $1,002.86
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,804.19 $14,407.40
FEDEX CORPORATION US FDX 2,609.17 $585,968.27
FIFTH THIRD BANCORP US FITB 320.87 $12,651.80
FLX 2021-1A A2 3.25000 11/27/2051 US 510,784.77 $473,275.09
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 416,277.31 $401,148.07
FORD MOTOR CREDIT 3.08700 01/09/2023 US 82,330.64 $82,254.99
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 241,845.19 $241,812.54
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 57,286 $53,239.32
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 240,892.32 $223,411.20
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 304,162.82 $283,442.17
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 89,507.21 $82,731.49
GENERAL DYNAMICS CORP US GD 96.25 $21,648.64
GENERAL MLS INC US GIS 238.9 $16,686.86
GENUINE PARTS CO US GPC 74.67 $10,209.18
GETTY REALTY CORP US GTY 1,542.66 $43,101.90
GILEAD SCIENCES INC US GILD 423.47 $27,462.27
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 83,236.45 $76,304.81
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 158,708.42 $154,569.62
GRAPHIC PACKAGING HOLDING CO US GPK 49,909.59 $1,110,987.45
GREENIDGE GEN HLD INC US 3,170.7 $63,160.27
GRUPO AEROPORTUARIO PAC-ADR MX PAC 258.64 $38,894.20
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 189.97 $41,279.56
AIRBUS SE FR AIR FP 571.91 $67,025.37
ADIDAS AG DE ADS GR 633.66 $125,887.60
HCA INC 4.12500 06/15/2029 US 463,710.54 $451,397.27
L'OREAL FR OR FP 74.12 $26,179.56
HAWAII ST 2.68200 10/01/2038 US 114,896.45 $90,984.57
HEALTHCARE REALTY TRUST INC US HR 1,974.88 $57,409.75
HEALTHCARE TRUST OF AMERICA US HTA 1,354.66 $40,707.50
HEINEKEN NV-SPN ADR NL HEINY 12,364.65 $623,673.19
HOME DEPOT INC US HD 211.3 $63,970.14
HONEYWELL INTERNATIONAL INC US HON 189.85 $36,759.06
HWIRE 2021-1 A2 2.31100 11/20/2051 US 368,126.11 $330,514.00
IDEXX LABORATORIES INC US IDXX 1,741.81 $682,126.50
KERRY GROUP PLC-A IE KYGA ID 460.54 $47,661.51
ILLINOIS TOOL WKS INC US ITW 111.29 $23,155.76
IMPRL 2021-NQM3 1.59500 11/25/2056 US 285,513.83 $271,049.67
INDEPENDENCE REALTY TRUST IN US IRT 2,044.29 $48,061.17
INTEL CORP US INTC 1,029.61 $45,735.18
INTERCONTINENTALEXCHANGE INC US ICE 13,087.39 $1,340,018.13
INTERNATIONAL FLVRS & FRAGRANCES US IFF 110.47 $14,600.62
INVITATION HOMES INC US INVH 3,269.15 $123,312.34
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 98,382.36 $96,230.18
JP MORGAN CHASE & CO US JPM 612.16 $80,945.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 108,606.12 $105,110.33
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 761,243.79 $771,317.06
JOHNSON & JOHNSON US JNJ 12,190.45 $2,188,552.18
KREF 2021-FL2 A 1.95671 02/15/2039 US 354,491.81 $343,390.04
KEYCORP US KEY 377.23 $7,529.42
KROGER CO US KR 292.45 $15,491.02
L3HARRIS TECHNOLOGIES INC US LHX 2,712.36 $653,407.21
BEIERSDORF AG DE BEI GR 1,145.03 $118,843.88
LENNAR CORP US LEN 104.66 $8,398.64
LIFE STORAGE INC US LSI 759.31 $88,656.54
LOCKHEED MARTIN CORP US LMT 73.44 $32,320.33
LULULEMON - ADR CA LULU 2,465.94 $721,755.18
MAGALLANES INC 4.05400 03/15/2029 US 784,502.87 $752,055.71
ATOS SE FR ATO FP 3,458.1 $91,032.61
MARATHON PETROLEUM CORP US MPC 151.59 $15,430.83
MARRIOTT VACATIONS WORLD US VAC 322.65 $47,661.17
MASTERCARD INC-CLASS A US MA 5,765.11 $2,063,159.40
MCDONALDS CORP US MCD 127.34 $32,115.30
ACCOR SA FR AC FP 1,520.36 $50,027.00
MERCADOLIBRE INC AR MELI 100.83 $79,242.59
MERCK & CO INC US MRK 600.89 $55,300.26
MICROSOFT CORP US MSFT 8,633.54 $2,347,200.67
MICROCHIP TECHNOLOGY INC US MCHP 175.29 $12,735.00
MID-AMERICA APARTMENT COMM US MAA 612.02 $110,775.98
MONDELEZ INTERNATIONAL INC US MDLZ 22,295.89 $1,417,126.59
MOODY'S CORPORATION US MCO 3,671.34 $1,107,167.31
MOTOROLA SOLUTIONS INC US MSI 68.93 $15,146.18
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 84,277.81 $80,137.15
NAVIENT CORP 6.75000 06/25/2025 US 148,286.66 $149,670.91
NETAPP INC US NTAP 123.72 $8,901.31
USRE 2021-1 A1 1.91000 10/20/2061 US 417,550.45 $372,456.09
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 103,113.74 $101,283.87
NRZT 2015-2A A1 3.75000 08/25/2055 US 160,785.86 $156,641.16
NRZT 2016-4A A1 3.75000 11/25/2056 US 311,138.58 $304,065.68
KEYENCE CORP JP 6861 JP 239.05 $95,040.28
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 169,563.42 $164,604.37
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 341,288.66 $310,224.77
NEWMONT GOLDCORP CORP US NEM 5,972.15 $405,210.21
NEXPOINT RESIDENTIAL US NXRT 582.55 $42,805.41
NORFOLK SOUTHN CORP US NSC 2,553.49 $611,969.93
NIKON CORP JP 7731 JP 9,071.84 $112,566.17
NORTHROP GRUMMAN CORP US NOC 1,462.17 $684,250.01
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 152,363.49 $15.24
NOVARTIS AG- REG CH NVS 18,242.13 $1,658,938.96
NUCOR CORP US NUE 110.74 $14,668.06
OBX 2022-INV1 A1 3.00000 12/25/2051 US 92,271.39 $84,132.24
OMNICOM GROUP US OMC 123.17 $9,189.84
SONY CORP FIRST SECTION JP 6758 JP 1,052 $98,666.03
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 327,609.49 $305,069.26
OXFIN 2020-1A A2 3.10100 02/15/2028 US 436,374.31 $433,857.48
OXFIN 2022-1A 3.60200 02/15/2030 US 446,299.88 $424,815.10
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,691.45 $72,911.53
PPG INDUSTRIES INC US PPG 74.6 $9,435.86
PACKAGING CORP OF AMERICA US PKG 53.36 $8,391.68
PARKER HANNIFIN CORP US PH 41.33 $11,248.52
DEUTSCHE BOERSE AG DE DB1 GR 899.25 $151,131.61
PAYPAL HOLDINGS INC US PYPL 12,381.58 $1,055,034.74
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 575,473.98 $553,797.55
NESTLE SA-REGISTERED CH NESN SW 9,718.62 $1,188,755.13
PFIZER INC US PFE 864.59 $45,857.74
PIONEER NATURAL RESOURCES CO US PXD 65.31 $18,151.56
POPULAR INC 6.12500 09/14/2023 PR 148,286.66 $149,965.00
PROCTER & GAMBLE CO US PG 462.56 $68,403.29
PROLOGIS US PLD 3,015.91 $384,468.40
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 455,933.96 $400,489.62
PFMT 2021-2 A2A 2.00000 04/25/2051 US 281,645.81 $255,147.39
PUBLIC STORAGE INC US PSA 547.88 $181,149.47
QUALCOMM INC US QCOM 310.83 $44,517.22
QUALCOMM INC 4.25000 05/20/2032 US 151,951.75 $157,781.83
QUEST DIAGNOSTICS INC US DGX 69.48 $9,797.48
RCKT 2021-6 A1 2.50000 12/25/2051 US 520,883.96 $456,897.62
RADIUS GLOBAL INFRASTRUCTURE US RADI 10,069.71 $150,038.64
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 166,388.01 $161,013.42
REGIONS FINANCIAL CORP. US RF 491.72 $10,862.09
REPUBLIC SERVICES INC US RSG 126.31 $16,905.73
RESTAURANT BRANDS INTERN CA QSR 947.22 $49,738.37
REXFORD INDUSTRIAL REALITY IN US REXR 1,862.5 $118,958.13
GETINGE AB-B SHS SE GETIB SS 3,580.79 $103,918.86
ROSS STORES INC US ROST 113.2 $9,623.87
HEINEKEN NV NL HEIA NA 773.88 $77,816.47
RYANAIR HOLDINGS - ADR IE RYAAY 7,197.05 $627,583.13
SBA TOWER TRUST 1.88400 01/15/2026 US 119,489.33 $111,497.06
S&P GLOBAL INC US SPGI 1,137.04 $397,372.15
SBA COMMUNICATIONS CORP US SBAC 5,535.89 $1,863,434.54
NAVIENT CORP 5.50000 01/25/2023 US 70,400.63 $70,696.60
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 289,193.73 $249,425.72
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 286,070.86 $273,122.46
SMB 2020-BA A1A 1.29000 07/15/2053 US 358,916.93 $334,640.40
SALESFORCE INC US CRM 7,416.27 $1,188,382.94
SEA LTD - ADR SG SE 10,933.6 $903,771.73
SEAGEN INC US SGEN 9,553.6 $1,296,232.17
SEMT 2013-6 A2 3.00000 05/25/2043 US 127,339.21 $119,252.52
SEMT 2013-7 A2 3.00000 06/25/2043 US 54,713.96 $51,267.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 64,420.33 $60,505.68
SEMT 2013-2 1.87400 02/25/2043 US 53,565.88 $48,512.42
SERVICENOW INC US NOW 2,831.95 $1,323,853.37
SHOPIFY INC CA SHOP 111.01 $41,642.83
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,020,457.41 $881,303.17
SKYWORKS SOLUTIONS INC US SWKS 65.38 $7,117.54
JM SMUCKER CO/THE-NEW COM WI US SJM 61.01 $7,648.26
SOFI 2017-F A2FX 2.84000 01/25/2041 US 25,349.45 $25,033.62
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 118,394.04 $117,586.65
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 182,150.42 $177,665.53
SONY CORP SPONSORED ADR JP SONY 7,321.79 $688,761.03
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 712,742.39 $641,693.87
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 573,009.31 $598,138.43
STANLEY BLACK & DECKER INC US SWK 61.28 $7,273.00
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 557,246.09 $383,048.43
STEEL DYNAMICS INC US STLD 112.79 $9,629.62
SUN COMMUNITIES US SUI 906.25 $148,742.60
SCML 2019-SBC8 2.86000 04/25/2041 US 83,764.67 $78,652.93
SYNCHRONOSS TECH US 6,192.55 $137,350.85
SYNERGY ONE LENDING 5.50000 10/14/2026 US 166,733.35 $148,727.05
TJX COMPANIES INC US TJX 279.95 $17,796.32
TACORA RESOURCES INC 8.25000 05/15/2026 CA 70,400.63 $67,169.65
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 8,404.99 $800,995.55
TARGET CORP US TGT 106.3 $17,207.14
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,288,425.62 $1,241,449.65
TERRENO REALTY CORP US TRNO 1,039.73 $63,122.20
TEXAS INSTRUMENTS INC US TXN 181.65 $32,108.20
THERMO FISHER SCIENTIFIC INC US TMO 1,171.78 $665,064.98
3M CO US MMM 188.2 $28,096.81
TPMT 2016-5 A1 2.50000 10/25/2056 US 163,147.38 $162,435.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 87,310.38 $86,966.67
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 147,431.45 $145,963.67
TRACTOR SUPPLY COMPANY US TSCO 39.42 $7,385.27
TRAVELLERS COS INC US TRV 94.55 $16,927.50
TAH 2017-SFR2 A 2.92800 01/17/2036 US 300,266.79 $296,815.37
TCF 2021-1A 1.86000 03/20/2046 US 400,486.32 $351,392.20
TYSON FOODS INC -CL A US TSN 152.13 $13,632.71
UDR INC US UDR 2,243.97 $107,261.62
U.S. BANCORP US USB 494.25 $26,229.76
UNILEVER PLC - ADR GB UL 31,841.87 $1,538,917.69
UNION PAC CORP US UNP 171.06 $37,595.46
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 132,245.71 $119,036.87
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 24,179.13 $22,650.23
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 81,985.3 $83,238.98
UNITED PARCEL SERVICE US UPS 3,324.11 $605,819.02
US TREASURY N/BB 3.87500 08/15/2040 US 2,710,695.88 $2,969,906.18
US TREASURY N/B 2.50000 02/15/2045 US 1,492,482.6 $1,292,163.45
US TREASURY N/B 3.00000 05/15/2047 US 2,272,837.86 $2,166,653.72
US TREASURY N/B 2.00000 02/15/2050 US 1,650,371.61 $1,301,988.47
US TREASURY N/B 2.87500 05/15/2028 US 3,606,272.43 $3,605,145.47
US TREASURY N/B 1.62500 05/15/2026 US 3,643,695.86 $3,483,430.19
US TREASURY N/B 2.50000 05/15/2024 US 2,739,777.01 $2,739,455.94
US TREASURY N/B 2.37500 05/15/2027 US 3,717,881.64 $3,637,424.37
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 3,629,635.26 $3,568,385.17
US TREASURY N/B 1.62500 05/15/2031 US 1,534,129.85 $1,387,428.69
VF CORP US VFC 149.67 $7,552.56
VENTAS INC US VTR 1,092.06 $61,963.55
VERTEX PHARMACEUTICALS INC US VRTX 4,767.69 $1,280,839.78
PARAMOUNT GLOBAL CLASS B US PARA 245.86 $8,440.37
VISA INC - CLASS A SHARES US V 9,620.63 $2,041,209.54
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 143,285.98 $140,648.44
VISTRA OPERATIONS 4.87500 05/13/2024 US 502,698.43 $504,607.90
WAL MART STORES US WMT 518.02 $66,632.87
WALGREENS BOOTS ALLIANCE INC US WBA 282.75 $12,392.88
WARRIOR MET COAL INC 7.87500 12/01/2028 US 52,832.91 $53,588.45
WASTE MANAGEMENT INC US WM 143.05 $22,675.00
WELLTOWER INC. US WELL 1,261.34 $112,373.03
WIN 2015-1 A1 3.50000 01/20/2045 US 33,154.72 $31,698.16
ZOETIS INC US ZTS 1,655.63 $282,997.64
BNY MELLON CASH RESERVE EOD FUND US 118.58 $118.58
ADMIRAL GROUP PLC GB ADM LN 4,427.14 $123,948.40
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 4,788.34 $34,505.31
UBISOFT ENTERTAINMENT FR UBI FP 1,738.85 $91,416.72
DANONE FR BN FP 868.66 $51,110.08
AIR LIQUIDE FR AI FP 965.28 $169,086.20
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 205,519.31 $162,485.13
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,332,934.18 $67,718.74
BRENNTAG AG DE BNR GR 1,587.35 $122,823.50
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 580,355.24 $27,903.53
KEYWORDS STUDIOS PLC IE KWS LN 889.05 $26,269.39
S4 CAPITAL PLC GB SFOR LN 18,551.51 $66,350.99
HELIOS TOWERS PLC GB HTWS LN 27,158.32 $38,910.84
AVANZA BANK HOLDING AB SE AZA SS 3,210.59 $77,350.45
AMERICAN TANKER INC 7.75000 07/02/2025 US 158,534.82 $150,608.08
SOFTWAREONE HOLDING AG CH SWON SW 5,693.74 $76,044.07
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,200.97 $56,593.20
SEASPAN CORP 6.50000 02/05/2024 MH 95,799.09 $95,558.17
PETROTAL CORP 12.00000 02/16/2024 CA 123,548.45 $127,254.90
FINECOBANK SPA IT FBK IM 10,537.9 $149,328.30
ALLFUNDS GROUP PLC GB ALLFG NA 6,049.5 $55,180.53
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 123,308.07 $123,230.70
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 163,970.59 $164,243.32
KENT GLOBAL PLC 10.00000 06/28/2026 GB 68,005.65 $67,325.60
ROTORK PLC GB ROR LN 21,926.12 $77,167.02
AUTO TRADER GROUP PLC GB AUTO LN 17,919.5 $133,306.21
CELLNEX TELECOM SA ES CLNX SM 857.54 $38,700.12
ASSA ABLOY AB-B SE ASSAB SS 4,717.34 $116,287.66
CLEANAWAY WASTE MANAGEMENT AU CWY AU 47,159.5 $101,067.75
INTERMEDIATE CAPITAL GROUP GB ICP LN 4,405.24 $87,462.48
ADYEN NV NL ADYEN NA 80.13 $124,100.60
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,514.77 $47,836.43
BUNGE LIMITED US BG 79.93 $9,456.93
EATON CORP PLC US ETN 152.34 $21,114.47
JOHNSON CONTROLS INTERNATIONAL US JCI 275.51 $15,017.95
MEDTRONIC INC IE MDT 8,292.87 $830,530.56
ROYALTY PHARMA PLC- CL A US RPRX 211.71 $8,709.62
STONECO LTD-A BR STNE 5,286.28 $53,074.28
TRANE TECHNOLOGIES IE TT 73.03 $10,082.11
ALCON INC CH ALC 10,531.26 $787,000.72
CHUBB LTD CH CB 135.26 $28,579.57
GARMIN LTD CH GRMN 99.94 $10,556.09
TE CONNECTIVITY LIMITED CH TEL 100.35 $12,984.80
LYONDELLBASELL INDU-CL A US LYB 104.25 $11,910.11
PLAYA HOTELS AND RESORTS US PLYA 4,459.79 $38,532.56
US DOLLAR US 6,685,857.14 $6,685,857.14
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 67,390.26 $67,328.67

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

A Word About Risk

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

About The Fund Manager

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

Daily Price

$30.03

Daily $ Change

$0.28

Daily % Change

0.93%

as of 06/23/2022

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 investments that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 36% - 68%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 13% - 47%.

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 05/31/2022

YTD

-10.73%

1 Year

-7.12%

3 Year

8.51%

5 Year

7.18%

10 Year

7.90%

Inception
(01/01/2000)

6.81%

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. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.90%
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 05/31/2022

TREASURY NOTES 16.57%
GOVERNMENT AGENCY 4.71%
TREASURY BONDS 3.69%
AMAZON.COM INC 2.68%
MICROSOFT CORP 1.82%
JOHNSON & JOHNSON 1.70%
MASTERCARD INC-CLASS A 1.60%
VISA INC - CLASS A SHARES 1.58%
META PLATFORMS INC 1.48%
SBA COMMUNICATIONS CORP 1.44%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks
49.52%
Bonds
45.56%
Cash
4.92%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
13.45%
Small Capitalization
0.73%
Mid Capitalization
3.65%
Large Capitalization
31.69%
Long Term Fixed Income
15.18%
Intermediate Term Fixed Income
23.49%
Short Term Fixed Income
6.89%
Cash
4.92%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 307.96 $36,173.16
ACTIVISION INC US ATVI 8,384.39 $652,976.07
ADIDAS AG-SPONSORED ADR DE ADDYY 5,614.01 $556,572.87
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 337,880.09 $296,306.45
ADYEN NV UNSPON ADR NL ADYEY 42,839.34 $663,152.96
AGREE REALTY CORP US ADC 567.41 $39,474.96
AIR LIQUIDE-ADR FR AIQUY 31,582.3 $1,102,538.16
AIR LEASE CORP 3.62500 04/01/2027 US 322,819.53 $306,999.97
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 50,552.79 $53,036.89
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 654,707.78 $570,016.99
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 188,099.86 $156,469.99
ALLSTATE CORPORATION US ALL 120.1 $16,415.79
ALPHABET INC-CL A US GOOGL 505.64 $1,150,450.86
AMAZON.COM INC US AMZN 1,439.77 $3,461,474.78
AMAZON.COM INC 3.30000 04/13/2027 US 638,131.23 $637,543.35
DIAGEO PLC GB DGE LN 12,684.86 $589,354.59
AMERICAN HOMES 4 RENT- A US AMH 2,021.13 $74,700.88
AMERICAN TOWER REIT INC US AMT 302.36 $77,442.49
ANALOG DEVICES INC US ADI 177.62 $29,910.93
APPLE HOSPITALITY REIT INC US APLE 6,888.95 $115,114.42
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 46,127.95 $46,663.09
ARCHER-DANIELS-MIDLAND CO US ADM 202.89 $18,426.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 285,325.21 $271,316.16
AUTOMATIC DATA PROCESSING US ADP 122.69 $27,353.11
AVALONBAY COMMUNITIES INC US AVB 480.11 $99,843.30
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 844,520.72 $731,806.94
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 258,522.93 $261,720.69
BANK OF AMERICA CORP 2.68700 04/22/2032 US 532,797.1 $466,150.08
BARRICK GOLD CORP CA GOLD 19,822.7 $406,167.15
BAXTER INTERNATIONAL INC US BAX 156.57 $11,907.45
BEST BUY INC US BBY 112.79 $9,255.17
BIOMARIN PHARMACEUTICAL INC US BMRN 15,959.11 $1,199,007.65
BLACKROCK INC US BLK 884.97 $592,118.87
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 339,261.47 $295,169.56
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 337,189.4 $306,755.90
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,265.39 $103,839.62
BRANDYWINE REALTY TRUST US BDN 3,426.54 $38,205.96
BABS 2021-RM2 A 1.75000 10/25/2061 US 231,059.54 $209,059.18
BRISTOL MYERS SQUIBB CO US BMY 542.49 $40,930.58
BROADRIDGE FINANCIAL SOLUTIONS US BR 60.53 $8,850.18
JONAH ENERGY PARENT LLC US 1,908.32 $102,400.54
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 300,488.09 $275,676.91
SORT 2020-1 A2 1.99000 07/15/2060 US 247,451.26 $217,285.39
C.H. ROBINSON WORLDWIDE INC US CHRW 78.02 $8,465.43
CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,826.11 $15,807.69
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 248,648.32 $247,973.57
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 138,137.95 $135,586.24
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 85,479.1 $80,199.26
COTERRA ENERGY INC US CTRA 306.66 $10,527.58
CAMDEN PROPERTY TRUST US CPT 461.87 $66,273.54
CAMECO CORP CA CCJ 1,516.66 $37,112.62
CAMPBELL SOUP CO US CPB 174.34 $8,352.58
CANADIAN NATIONAL RAILWAY CO CA CNI 8,520.98 $969,517.05
CARETRUST REIT INC US CTRE 2,287.82 $42,393.39
CATERPILLAR INC US CAT 161.9 $34,946.77
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 756,633.33 $852,654.01
CENTURYLINK INC 7.50000 04/01/2024 US 143,842.05 $148,807.42
CHARTER COMMUNICATIONS INC-A US CHTR 2,236.88 $1,133,941.51
CHEVRON CORP US CVX 296.96 $51,866.70
CINCINNATI FINANCIAL CORP US CINF 82.73 $10,577.49
CISCO SYSTEMS INC US CSCO 1,011.31 $45,559.52
CITIGROUP INC US C 617.62 $32,987.24
CITIGROUP INC 1.46200 06/09/2027 US 510,228.7 $459,599.92
CLARK CNTY NV 1.51000 11/01/2028 US 140,900.71 $123,956.01
COCA COLA CO/THE US KO 17,426.38 $1,104,484.03
COLGATE-PALMOLIVE CO US CL 280.36 $22,095.04
COMCAST CORP-CL A US CMCSA 1,093.63 $48,425.82
COMMUNITY HEALTHCARE TRUST I US CHCT 1,191.94 $44,912.15
CONAGRA BRAND INC. US CAG 256.19 $8,426.11
CONOCOPHILLIPS US COP 275.85 $30,994.41
CONTROLADORA VUELA CIA DE AV MX VLRS 2,517.86 $39,228.26
COPART INC US CPRT 5,206.98 $596,355.36
COUSINS PROPERTIES INC US CUZ 2,821.9 $97,496.66
CAALT 2020-1A 2.01000 02/15/2029 US 188,714.68 $188,372.90
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 134,684.5 $126,355.22
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 396,740.92 $360,808.61
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,637.24 $44,337.03
CUMMINS INC US CMI 66.13 $13,828.55
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 73,213.12 $66,738.11
KIMBERLY CLARK DE MEXICO S.A.B. MX 55,937.91 $86,548.08
DEVON ENERGY CORPORATION US DVN 201.25 $15,073.73
DIAMONDBACK ENERGY INC US FANG 65.31 $9,928.04
DIGITAL REALTY TRUST INC US DLR 870.11 $121,458.74
DOLLAR GENERAL CORP US DG 3,082.11 $679,112.43
DOLLAR TREE STORES INC US DLTR 4,346.02 $696,797.47
DOW INC US DOW 214.92 $14,610.07
DUKE RLTY INVTS INC US DRE 1,968.8 $104,011.69
EOG RESOURCES INC US EOG 150.9 $20,667.82
EASTMAN CHEM CO US EMN 75.49 $8,315.60
EBAY INC US EBAY 189.3 $9,213.40
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 68,351 $64,770.06
ELECTRONIC ARTS US EA 4,985.84 $691,286.78
EMERSON ELEC CO US EMR 219.9 $19,496.41
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 715,236.82 $747,949.49
EQUINIX INC US EQIX 1,358.42 $933,353.77
EQUITY LIFESTYLE PROPERTIES US ELS 1,741.11 $131,802.04
ESSEX PROPERTY TRUST INC US ESS 295.8 $83,962.08
EXPEDIA GROUP INC 3.25000 02/15/2030 US 322,173.72 $284,879.48
EXTRA SPACE STORAGE INC US EXR 432.22 $77,021.67
FMC CORP US FMC 12,634.71 $1,548,763.19
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 152,731.27 $155,556.47
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 874,659.41 $859,689.87
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 50,441,969.55 $23,788.94
META PLATFORMS INC US FB 9,861.83 $1,909,644.30
FHLM POOL G03332 6.00000 10/01/2037 US 1,625.57 $1,800.26
FHLM POOL G05900 6.00000 03/01/2040 US 3,216.74 $3,582.75
FHLM POOL G05906 6.00000 04/01/2040 US 26,048.89 $28,783.38
FHLM POOL G06995 6.00000 05/01/2040 US 10,027.03 $11,117.95
FHLM POOL G13331 5.50000 10/01/2023 US 177.39 $180.33
FHLM POOL G12988 6.00000 01/01/2023 US 89.56 $89.82
FHLM POOL G13078 6.00000 03/01/2023 US 132.5 $132.99
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 145,039.97 $149,435.25
FHLM POOL C91780 4.50000 07/01/2034 US 143,680.97 $149,855.91
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 633,545.22 $609,543.26
FHLM POOL SD8230 4.50000 06/01/2052 US 444,819.96 $453,300.06
FHLM POOL K91364 4.50000 11/01/2033 US 17,145.29 $17,910.73
FHLM POOL K92059 4.50000 09/01/2034 US 112,122.21 $116,743.15
FHLM POOL G60034 4.50000 02/01/2045 US 75,798.15 $79,093.07
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 267,004.05 $266,360.18
FNR 2018-31 KP 3.50000 07/25/2047 US 13,726.18 $13,808.04
FHMS K030 X1 FLT 0.14558 04/25/2023 US 16,735,012.05 $19,461.65
FHMS K032 X1 FLT 0.06799 05/25/2023 US 11,010,303 $9,438.69
FHR 5189 CP 2.50000 06/25/2049 US 116,214.85 $108,065.99
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 34,182.1 $35,672.27
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 42,316.64 $44,161.44
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 588,019.47 $642,871.19
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,731.02 $10,684.60
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,003.74 $34,471.68
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 328,362.8 $325,168.89
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 614,247.03 $610,855.57
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 15.9 $15.90
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 10,135.87 $11,225.65
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 16,426.5 $17,047.26
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 122,452.62 $127,080.09
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 52,155.89 $52,187.55
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 670,939.43 $631,107.62
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 635,413.53 $623,349.36
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 630,579.98 $631,398.00
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 627,169.94 $634,755.56
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 5,047.21 $5,564.73
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,675.72 $10,684.43
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 972.73 $1,002.86
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,804.19 $14,407.40
FEDEX CORPORATION US FDX 2,609.17 $585,968.27
FIFTH THIRD BANCORP US FITB 320.87 $12,651.80
FLX 2021-1A A2 3.25000 11/27/2051 US 510,784.77 $473,275.09
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 416,277.31 $401,148.07
FORD MOTOR CREDIT 3.08700 01/09/2023 US 82,330.64 $82,254.99
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 241,845.19 $241,812.54
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 57,286 $53,239.32
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 240,892.32 $223,411.20
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 304,162.82 $283,442.17
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 89,507.21 $82,731.49
GENERAL DYNAMICS CORP US GD 96.25 $21,648.64
GENERAL MLS INC US GIS 238.9 $16,686.86
GENUINE PARTS CO US GPC 74.67 $10,209.18
GETTY REALTY CORP US GTY 1,542.66 $43,101.90
GILEAD SCIENCES INC US GILD 423.47 $27,462.27
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 83,236.45 $76,304.81
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 158,708.42 $154,569.62
GRAPHIC PACKAGING HOLDING CO US GPK 49,909.59 $1,110,987.45
GREENIDGE GEN HLD INC US 3,170.7 $63,160.27
GRUPO AEROPORTUARIO PAC-ADR MX PAC 258.64 $38,894.20
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 189.97 $41,279.56
AIRBUS SE FR AIR FP 571.91 $67,025.37
ADIDAS AG DE ADS GR 633.66 $125,887.60
HCA INC 4.12500 06/15/2029 US 463,710.54 $451,397.27
L'OREAL FR OR FP 74.12 $26,179.56
HAWAII ST 2.68200 10/01/2038 US 114,896.45 $90,984.57
HEALTHCARE REALTY TRUST INC US HR 1,974.88 $57,409.75
HEALTHCARE TRUST OF AMERICA US HTA 1,354.66 $40,707.50
HEINEKEN NV-SPN ADR NL HEINY 12,364.65 $623,673.19
HOME DEPOT INC US HD 211.3 $63,970.14
HONEYWELL INTERNATIONAL INC US HON 189.85 $36,759.06
HWIRE 2021-1 A2 2.31100 11/20/2051 US 368,126.11 $330,514.00
IDEXX LABORATORIES INC US IDXX 1,741.81 $682,126.50
KERRY GROUP PLC-A IE KYGA ID 460.54 $47,661.51
ILLINOIS TOOL WKS INC US ITW 111.29 $23,155.76
IMPRL 2021-NQM3 1.59500 11/25/2056 US 285,513.83 $271,049.67
INDEPENDENCE REALTY TRUST IN US IRT 2,044.29 $48,061.17
INTEL CORP US INTC 1,029.61 $45,735.18
INTERCONTINENTALEXCHANGE INC US ICE 13,087.39 $1,340,018.13
INTERNATIONAL FLVRS & FRAGRANCES US IFF 110.47 $14,600.62
INVITATION HOMES INC US INVH 3,269.15 $123,312.34
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 98,382.36 $96,230.18
JP MORGAN CHASE & CO US JPM 612.16 $80,945.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 108,606.12 $105,110.33
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 761,243.79 $771,317.06
JOHNSON & JOHNSON US JNJ 12,190.45 $2,188,552.18
KREF 2021-FL2 A 1.95671 02/15/2039 US 354,491.81 $343,390.04
KEYCORP US KEY 377.23 $7,529.42
KROGER CO US KR 292.45 $15,491.02
L3HARRIS TECHNOLOGIES INC US LHX 2,712.36 $653,407.21
BEIERSDORF AG DE BEI GR 1,145.03 $118,843.88
LENNAR CORP US LEN 104.66 $8,398.64
LIFE STORAGE INC US LSI 759.31 $88,656.54
LOCKHEED MARTIN CORP US LMT 73.44 $32,320.33
LULULEMON - ADR CA LULU 2,465.94 $721,755.18
MAGALLANES INC 4.05400 03/15/2029 US 784,502.87 $752,055.71
ATOS SE FR ATO FP 3,458.1 $91,032.61
MARATHON PETROLEUM CORP US MPC 151.59 $15,430.83
MARRIOTT VACATIONS WORLD US VAC 322.65 $47,661.17
MASTERCARD INC-CLASS A US MA 5,765.11 $2,063,159.40
MCDONALDS CORP US MCD 127.34 $32,115.30
ACCOR SA FR AC FP 1,520.36 $50,027.00
MERCADOLIBRE INC AR MELI 100.83 $79,242.59
MERCK & CO INC US MRK 600.89 $55,300.26
MICROSOFT CORP US MSFT 8,633.54 $2,347,200.67
MICROCHIP TECHNOLOGY INC US MCHP 175.29 $12,735.00
MID-AMERICA APARTMENT COMM US MAA 612.02 $110,775.98
MONDELEZ INTERNATIONAL INC US MDLZ 22,295.89 $1,417,126.59
MOODY'S CORPORATION US MCO 3,671.34 $1,107,167.31
MOTOROLA SOLUTIONS INC US MSI 68.93 $15,146.18
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 84,277.81 $80,137.15
NAVIENT CORP 6.75000 06/25/2025 US 148,286.66 $149,670.91
NETAPP INC US NTAP 123.72 $8,901.31
USRE 2021-1 A1 1.91000 10/20/2061 US 417,550.45 $372,456.09
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 103,113.74 $101,283.87
NRZT 2015-2A A1 3.75000 08/25/2055 US 160,785.86 $156,641.16
NRZT 2016-4A A1 3.75000 11/25/2056 US 311,138.58 $304,065.68
KEYENCE CORP JP 6861 JP 239.05 $95,040.28
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 169,563.42 $164,604.37
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 341,288.66 $310,224.77
NEWMONT GOLDCORP CORP US NEM 5,972.15 $405,210.21
NEXPOINT RESIDENTIAL US NXRT 582.55 $42,805.41
NORFOLK SOUTHN CORP US NSC 2,553.49 $611,969.93
NIKON CORP JP 7731 JP 9,071.84 $112,566.17
NORTHROP GRUMMAN CORP US NOC 1,462.17 $684,250.01
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 152,363.49 $15.24
NOVARTIS AG- REG CH NVS 18,242.13 $1,658,938.96
NUCOR CORP US NUE 110.74 $14,668.06
OBX 2022-INV1 A1 3.00000 12/25/2051 US 92,271.39 $84,132.24
OMNICOM GROUP US OMC 123.17 $9,189.84
SONY CORP FIRST SECTION JP 6758 JP 1,052 $98,666.03
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 327,609.49 $305,069.26
OXFIN 2020-1A A2 3.10100 02/15/2028 US 436,374.31 $433,857.48
OXFIN 2022-1A 3.60200 02/15/2030 US 446,299.88 $424,815.10
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,691.45 $72,911.53
PPG INDUSTRIES INC US PPG 74.6 $9,435.86
PACKAGING CORP OF AMERICA US PKG 53.36 $8,391.68
PARKER HANNIFIN CORP US PH 41.33 $11,248.52
DEUTSCHE BOERSE AG DE DB1 GR 899.25 $151,131.61
PAYPAL HOLDINGS INC US PYPL 12,381.58 $1,055,034.74
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 575,473.98 $553,797.55
NESTLE SA-REGISTERED CH NESN SW 9,718.62 $1,188,755.13
PFIZER INC US PFE 864.59 $45,857.74
PIONEER NATURAL RESOURCES CO US PXD 65.31 $18,151.56
POPULAR INC 6.12500 09/14/2023 PR 148,286.66 $149,965.00
PROCTER & GAMBLE CO US PG 462.56 $68,403.29
PROLOGIS US PLD 3,015.91 $384,468.40
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 455,933.96 $400,489.62
PFMT 2021-2 A2A 2.00000 04/25/2051 US 281,645.81 $255,147.39
PUBLIC STORAGE INC US PSA 547.88 $181,149.47
QUALCOMM INC US QCOM 310.83 $44,517.22
QUALCOMM INC 4.25000 05/20/2032 US 151,951.75 $157,781.83
QUEST DIAGNOSTICS INC US DGX 69.48 $9,797.48
RCKT 2021-6 A1 2.50000 12/25/2051 US 520,883.96 $456,897.62
RADIUS GLOBAL INFRASTRUCTURE US RADI 10,069.71 $150,038.64
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 166,388.01 $161,013.42
REGIONS FINANCIAL CORP. US RF 491.72 $10,862.09
REPUBLIC SERVICES INC US RSG 126.31 $16,905.73
RESTAURANT BRANDS INTERN CA QSR 947.22 $49,738.37
REXFORD INDUSTRIAL REALITY IN US REXR 1,862.5 $118,958.13
GETINGE AB-B SHS SE GETIB SS 3,580.79 $103,918.86
ROSS STORES INC US ROST 113.2 $9,623.87
HEINEKEN NV NL HEIA NA 773.88 $77,816.47
RYANAIR HOLDINGS - ADR IE RYAAY 7,197.05 $627,583.13
SBA TOWER TRUST 1.88400 01/15/2026 US 119,489.33 $111,497.06
S&P GLOBAL INC US SPGI 1,137.04 $397,372.15
SBA COMMUNICATIONS CORP US SBAC 5,535.89 $1,863,434.54
NAVIENT CORP 5.50000 01/25/2023 US 70,400.63 $70,696.60
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 289,193.73 $249,425.72
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 286,070.86 $273,122.46
SMB 2020-BA A1A 1.29000 07/15/2053 US 358,916.93 $334,640.40
SALESFORCE INC US CRM 7,416.27 $1,188,382.94
SEA LTD - ADR SG SE 10,933.6 $903,771.73
SEAGEN INC US SGEN 9,553.6 $1,296,232.17
SEMT 2013-6 A2 3.00000 05/25/2043 US 127,339.21 $119,252.52
SEMT 2013-7 A2 3.00000 06/25/2043 US 54,713.96 $51,267.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 64,420.33 $60,505.68
SEMT 2013-2 1.87400 02/25/2043 US 53,565.88 $48,512.42
SERVICENOW INC US NOW 2,831.95 $1,323,853.37
SHOPIFY INC CA SHOP 111.01 $41,642.83
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,020,457.41 $881,303.17
SKYWORKS SOLUTIONS INC US SWKS 65.38 $7,117.54
JM SMUCKER CO/THE-NEW COM WI US SJM 61.01 $7,648.26
SOFI 2017-F A2FX 2.84000 01/25/2041 US 25,349.45 $25,033.62
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 118,394.04 $117,586.65
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 182,150.42 $177,665.53
SONY CORP SPONSORED ADR JP SONY 7,321.79 $688,761.03
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 712,742.39 $641,693.87
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 573,009.31 $598,138.43
STANLEY BLACK & DECKER INC US SWK 61.28 $7,273.00
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 557,246.09 $383,048.43
STEEL DYNAMICS INC US STLD 112.79 $9,629.62
SUN COMMUNITIES US SUI 906.25 $148,742.60
SCML 2019-SBC8 2.86000 04/25/2041 US 83,764.67 $78,652.93
SYNCHRONOSS TECH US 6,192.55 $137,350.85
SYNERGY ONE LENDING 5.50000 10/14/2026 US 166,733.35 $148,727.05
TJX COMPANIES INC US TJX 279.95 $17,796.32
TACORA RESOURCES INC 8.25000 05/15/2026 CA 70,400.63 $67,169.65
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 8,404.99 $800,995.55
TARGET CORP US TGT 106.3 $17,207.14
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,288,425.62 $1,241,449.65
TERRENO REALTY CORP US TRNO 1,039.73 $63,122.20
TEXAS INSTRUMENTS INC US TXN 181.65 $32,108.20
THERMO FISHER SCIENTIFIC INC US TMO 1,171.78 $665,064.98
3M CO US MMM 188.2 $28,096.81
TPMT 2016-5 A1 2.50000 10/25/2056 US 163,147.38 $162,435.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 87,310.38 $86,966.67
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 147,431.45 $145,963.67
TRACTOR SUPPLY COMPANY US TSCO 39.42 $7,385.27
TRAVELLERS COS INC US TRV 94.55 $16,927.50
TAH 2017-SFR2 A 2.92800 01/17/2036 US 300,266.79 $296,815.37
TCF 2021-1A 1.86000 03/20/2046 US 400,486.32 $351,392.20
TYSON FOODS INC -CL A US TSN 152.13 $13,632.71
UDR INC US UDR 2,243.97 $107,261.62
U.S. BANCORP US USB 494.25 $26,229.76
UNILEVER PLC - ADR GB UL 31,841.87 $1,538,917.69
UNION PAC CORP US UNP 171.06 $37,595.46
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 132,245.71 $119,036.87
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 24,179.13 $22,650.23
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 81,985.3 $83,238.98
UNITED PARCEL SERVICE US UPS 3,324.11 $605,819.02
US TREASURY N/BB 3.87500 08/15/2040 US 2,710,695.88 $2,969,906.18
US TREASURY N/B 2.50000 02/15/2045 US 1,492,482.6 $1,292,163.45
US TREASURY N/B 3.00000 05/15/2047 US 2,272,837.86 $2,166,653.72
US TREASURY N/B 2.00000 02/15/2050 US 1,650,371.61 $1,301,988.47
US TREASURY N/B 2.87500 05/15/2028 US 3,606,272.43 $3,605,145.47
US TREASURY N/B 1.62500 05/15/2026 US 3,643,695.86 $3,483,430.19
US TREASURY N/B 2.50000 05/15/2024 US 2,739,777.01 $2,739,455.94
US TREASURY N/B 2.37500 05/15/2027 US 3,717,881.64 $3,637,424.37
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 3,629,635.26 $3,568,385.17
US TREASURY N/B 1.62500 05/15/2031 US 1,534,129.85 $1,387,428.69
VF CORP US VFC 149.67 $7,552.56
VENTAS INC US VTR 1,092.06 $61,963.55
VERTEX PHARMACEUTICALS INC US VRTX 4,767.69 $1,280,839.78
PARAMOUNT GLOBAL CLASS B US PARA 245.86 $8,440.37
VISA INC - CLASS A SHARES US V 9,620.63 $2,041,209.54
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 143,285.98 $140,648.44
VISTRA OPERATIONS 4.87500 05/13/2024 US 502,698.43 $504,607.90
WAL MART STORES US WMT 518.02 $66,632.87
WALGREENS BOOTS ALLIANCE INC US WBA 282.75 $12,392.88
WARRIOR MET COAL INC 7.87500 12/01/2028 US 52,832.91 $53,588.45
WASTE MANAGEMENT INC US WM 143.05 $22,675.00
WELLTOWER INC. US WELL 1,261.34 $112,373.03
WIN 2015-1 A1 3.50000 01/20/2045 US 33,154.72 $31,698.16
ZOETIS INC US ZTS 1,655.63 $282,997.64
BNY MELLON CASH RESERVE EOD FUND US 118.58 $118.58
ADMIRAL GROUP PLC GB ADM LN 4,427.14 $123,948.40
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 4,788.34 $34,505.31
UBISOFT ENTERTAINMENT FR UBI FP 1,738.85 $91,416.72
DANONE FR BN FP 868.66 $51,110.08
AIR LIQUIDE FR AI FP 965.28 $169,086.20
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 205,519.31 $162,485.13
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,332,934.18 $67,718.74
BRENNTAG AG DE BNR GR 1,587.35 $122,823.50
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 580,355.24 $27,903.53
KEYWORDS STUDIOS PLC IE KWS LN 889.05 $26,269.39
S4 CAPITAL PLC GB SFOR LN 18,551.51 $66,350.99
HELIOS TOWERS PLC GB HTWS LN 27,158.32 $38,910.84
AVANZA BANK HOLDING AB SE AZA SS 3,210.59 $77,350.45
AMERICAN TANKER INC 7.75000 07/02/2025 US 158,534.82 $150,608.08
SOFTWAREONE HOLDING AG CH SWON SW 5,693.74 $76,044.07
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,200.97 $56,593.20
SEASPAN CORP 6.50000 02/05/2024 MH 95,799.09 $95,558.17
PETROTAL CORP 12.00000 02/16/2024 CA 123,548.45 $127,254.90
FINECOBANK SPA IT FBK IM 10,537.9 $149,328.30
ALLFUNDS GROUP PLC GB ALLFG NA 6,049.5 $55,180.53
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 123,308.07 $123,230.70
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 163,970.59 $164,243.32
KENT GLOBAL PLC 10.00000 06/28/2026 GB 68,005.65 $67,325.60
ROTORK PLC GB ROR LN 21,926.12 $77,167.02
AUTO TRADER GROUP PLC GB AUTO LN 17,919.5 $133,306.21
CELLNEX TELECOM SA ES CLNX SM 857.54 $38,700.12
ASSA ABLOY AB-B SE ASSAB SS 4,717.34 $116,287.66
CLEANAWAY WASTE MANAGEMENT AU CWY AU 47,159.5 $101,067.75
INTERMEDIATE CAPITAL GROUP GB ICP LN 4,405.24 $87,462.48
ADYEN NV NL ADYEN NA 80.13 $124,100.60
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,514.77 $47,836.43
BUNGE LIMITED US BG 79.93 $9,456.93
EATON CORP PLC US ETN 152.34 $21,114.47
JOHNSON CONTROLS INTERNATIONAL US JCI 275.51 $15,017.95
MEDTRONIC INC IE MDT 8,292.87 $830,530.56
ROYALTY PHARMA PLC- CL A US RPRX 211.71 $8,709.62
STONECO LTD-A BR STNE 5,286.28 $53,074.28
TRANE TECHNOLOGIES IE TT 73.03 $10,082.11
ALCON INC CH ALC 10,531.26 $787,000.72
CHUBB LTD CH CB 135.26 $28,579.57
GARMIN LTD CH GRMN 99.94 $10,556.09
TE CONNECTIVITY LIMITED CH TEL 100.35 $12,984.80
LYONDELLBASELL INDU-CL A US LYB 104.25 $11,910.11
PLAYA HOTELS AND RESORTS US PLYA 4,459.79 $38,532.56
US DOLLAR US 6,685,857.14 $6,685,857.14
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 67,390.26 $67,328.67

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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