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

$14.06

Daily $ Change

-$0.12

Daily % Change

-0.85%

as of 09/29/2022

CUSIP

56382R845

Inception Date

04/17/2015

This fund is available only 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 08/31/2022

YTD

-13.58%

1 Year

-12.88%

3 Year

5.87%

5 Year

6.25%

10 Year

7.27%

Inception
(01/01/2000)

7.06%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (01/06/2005) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.50%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 13.03%
TREASURY BONDS 10.32%
GOVERNMENT AGENCY 6.21%
AMAZON.COM INC 2.34%
MICROSOFT CORP 1.84%
JOHNSON & JOHNSON 1.61%
MASTERCARD INC-CLASS A 1.52%
SBA COMMUNICATIONS CORP 1.32%
META PLATFORMS INC 1.31%
VISA INC - CLASS A SHARES 1.22%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds 49.38%
Stocks 47.01%
Cash 3.61%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 12.43%
Small Capitalization 0.78%
Mid Capitalization 3.25%
Large Capitalization 30.54%
Long Term Fixed Income 16.46%
Intermediate Term Fixed Income 28.91%
Short Term Fixed Income 4.02%
Cash 3.61%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 316.45 $32,483.14
ACTIVISION INC US ATVI 8,615.76 $676,250.85
ADIDAS AG-SPONSORED ADR DE ADDYY 5,768.88 $427,935.32
ADMIRAL GROUP PLC GB AMIGY 23,894.26 $601,657.51
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 276,561.34 $237,032.99
ADYEN NV UNSPON ADR NL ADYEY 44,021.59 $682,774.93
AGREE REALTY CORP US ADC 583.05 $43,915.44
AIR LIQUIDE-ADR FR AIQUY 35,702.29 $895,056.51
AIR LEASE CORP 3.62500 04/01/2027 US 331,340.95 $307,401.34
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 45,727.58 $46,038.83
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 671,814.3 $564,979.37
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 193,048.83 $160,873.41
ALLSTATE CORPORATION US ALL 133.72 $16,113.76
ALPHABET INC-CL A US GOOGL 10,391.87 $1,124,607.68
AMAZON.COM INC US AMZN 23,323.08 $2,956,667.03
AMAZON.COM INC 3.30000 04/13/2027 US 654,960.54 $640,831.51
DIAGEO PLC GB DGE LN 2,891.67 $125,632.62
BAE SYSTEMS PLC GB BA/ LN 11,316.57 $101,918.16
AMERICAN HOMES 4 RENT- A US AMH 2,909.64 $103,466.83
AMERICAN TOWER REIT INC US AMT 324.94 $82,550.74
ANALOG DEVICES INC US ADI 182.51 $27,655.86
APPLE HOSPITALITY REIT INC US APLE 6,484.18 $103,163.33
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 47,383.18 $47,853.25
ARCHER-DANIELS-MIDLAND CO US ADM 208.48 $18,323.60
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 292,735.77 $268,254.73
AUTOMATIC DATA PROCESSING US ADP 129.93 $31,757.01
AVALONBAY COMMUNITIES INC US AVB 493.34 $99,117.03
BAE SYSTEMS PLC -SPON ADR GB BAESY 16,834.78 $607,735.52
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 299,751.62 $295,084.09
BANK OF AMERICA CORP 2.68700 04/22/2032 US 546,853.27 $456,411.07
BARRICK GOLD CORP CA GOLD 20,794.88 $308,803.99
BAXTER INTERNATIONAL INC US BAX 160.89 $9,244.75
BEST BUY INC US BBY 129.51 $9,155.23
BIOMARIN PHARMACEUTICAL INC US BMRN 9,398.88 $838,380.04
BLACKROCK INC US BLK 909.39 $606,010.83
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 285,360.62 $252,487.15
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,327.79 $94,142.42
BRANDYWINE REALTY TRUST US BDN 3,655.12 $29,350.65
BABS 2021-RM2 A 1.75000 10/25/2061 US 222,967.29 $198,029.98
BRISTOL MYERS SQUIBB CO US BMY 603.55 $40,685.21
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.19 $10,645.76
JONAH ENERGY PARENT LLC US 1,960.67 $111,581.48
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 308,549.76 $280,391.57
SORT 2020-1 A2 1.99000 07/15/2060 US 253,544.76 $217,361.34
C.H. ROBINSON WORLDWIDE INC US CHRW 84.59 $9,655.57
CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,097.12 $14,982.00
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 252,806.31 $248,815.26
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 140,447.95 $136,445.89
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 85,681.68 $79,589.79
COTERRA ENERGY INC US CTRA 315.11 $9,740.10
CAMDEN PROPERTY TRUST US CPT 555.96 $71,445.85
CAMECO CORP CA CCJ 1,558.43 $45,428.29
CAMPBELL SOUP CO US CPB 185.11 $9,325.72
CANADIAN NATIONAL RAILWAY CO CA CNI 8,756.42 $1,041,225.96
CARETRUST REIT INC US CTRE 3,929.03 $84,631.35
CATERPILLAR INC US CAT 166.37 $30,729.37
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,488.97 $67,790.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 705,018.62 $770,026.88
CHARTER COMMUNICATIONS INC-A US CHTR 2,092.27 $863,333.53
CHEVRON CORP US CVX 305.14 $48,231.03
CINCINNATI FINANCIAL CORP US CINF 85.01 $8,242.36
CISCO SYSTEMS INC US CSCO 1,039.19 $46,472.47
CITIGROUP INC US C 634.65 $30,977.06
CITIGROUP INC 1.46200 06/09/2027 US 523,687.54 $462,240.27
CLARK CNTY NV 1.51000 11/01/2028 US 143,256.91 $122,653.54
COCA COLA CO/THE US KO 17,906.55 $1,105,013.24
COLGATE-PALMOLIVE CO US CL 309.43 $24,200.18
COMCAST CORP-CL A US CMCSA 1,123.77 $40,669.39
COMMUNITY HEALTHCARE TRUST I US CHCT 1,224.79 $45,182.40
CONAGRA BRAND INC. US CAG 282.33 $9,706.50
CONOCOPHILLIPS US COP 283.45 $31,023.94
CONTROLADORA VUELA CIA DE AV MX VLRS 4,038.54 $35,862.23
COPART INC US CPRT 5,351.53 $640,310.16
COUSINS PROPERTIES INC US CUZ 2,706.42 $72,667.44
CAALT 2020-1A 2.01000 02/15/2029 US 86,394.79 $86,257.46
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 136,936.75 $126,561.37
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 407,158.3 $360,451.74
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,073.8 $42,822.21
CUMMINS INC US CMI 67.95 $14,634.42
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 74,437.41 $66,288.82
KIMBERLY CLARK DE MEXICO S.A.B. MX 79,111.32 $107,398.04
DEVON ENERGY CORPORATION US DVN 206.8 $14,604.12
DIAMONDBACK ENERGY INC US FANG 67.11 $8,944.12
DIGITAL REALTY TRUST INC US DLR 1,011.88 $125,098.79
DOLLAR TREE STORES INC US DLTR 4,465.96 $605,941.57
DOW INC US DOW 220.84 $11,262.74
DREYFUS GVT CSH MANAGEMENT US 4,719,776.12 $4,719,776.12
DUKE RLTY INVTS INC US DRE 1,169.26 $68,811.01
EOG RESOURCES INC US EOG 155.06 $18,809.25
EASTMAN CHEM CO US EMN 79.32 $7,218.29
EBAY INC US EBAY 199.43 $8,800.75
ELECTRONIC ARTS US EA 5,123.28 $649,991.16
EMERSON ELEC CO US EMR 225.96 $18,470.16
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 734,279.26 $742,211.97
EQUINIX INC US EQIX 1,432.36 $941,590.46
EQUITY LIFESTYLE PROPERTIES US ELS 2,069.11 $145,044.47
ESSEX PROPERTY TRUST INC US ESS 306.48 $81,234.90
EXPEDIA GROUP INC 3.25000 02/15/2030 US 330,640.35 $286,116.47
EXTRA SPACE STORAGE INC US EXR 248.35 $49,355.56
FMC CORP US FMC 12,985.26 $1,403,447.38
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 137,588.25 $138,092.54
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 898,523.17 $868,897.42
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 49,496,147.53 $11,602.39
META PLATFORMS INC US META 10,133.96 $1,651,126.86
FHLM POOL G03332 6.00000 10/01/2037 US 1,591.25 $1,715.64
FHLM POOL G05900 6.00000 03/01/2040 US 3,190.01 $3,454.55
FHLM POOL G05906 6.00000 04/01/2040 US 18,220.09 $19,571.22
FHLM POOL G06995 6.00000 05/01/2040 US 9,421.17 $10,164.12
FHLM POOL G13331 5.50000 10/01/2023 US 120.68 $121.38
FHLM POOL G12988 6.00000 01/01/2023 US 22.81 $22.81
FHLM POOL G13078 6.00000 03/01/2023 US 46.5 $46.51
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 140,845.07 $142,302.51
FHLM POOL C91780 4.50000 07/01/2034 US 137,469.47 $141,046.33
FR SD1129 4.00000 08/01/2051 US 551,686.12 $544,796.20
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 624,975.26 $584,242.27
FHLM POOL SD8230 4.50000 06/01/2052 US 448,168.61 $446,632.87
FHLM POOL K91364 4.50000 11/01/2033 US 17,316.8 $17,635.94
FHLM POOL K92059 4.50000 09/01/2034 US 111,500.43 $114,367.86
FHLM POOL G60034 4.50000 02/01/2045 US 74,342.48 $76,012.24
FNR 2018-31 KP 3.50000 07/25/2047 US 12,537.58 $12,395.10
FHMS K030 X1 FLT 0.25907 04/25/2023 US 16,901,002.2 $10,718.79
FHMS K032 X1 FLT 0.17942 05/25/2023 US 11,218,937.07 $5,729.62
FHR 5189 CP 2.50000 06/25/2049 US 115,390.19 $105,051.57
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 32,444.25 $33,185.64
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 41,366.3 $42,311.56
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 572,349.89 $609,824.32
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,423.25 $10,079.08
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,361.27 $34,083.14
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 322,664.86 $310,774.31
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 597,422.85 $577,645.88
FN DS2696 3.00000 12/01/2051 US 762,010.37 $711,797.29
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5.58 $5.57
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 9,693.66 $10,444.93
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 15,240.67 $15,590.16
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 116,855.82 $119,535.49
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 50,906.34 $49,535.30
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 664,195.05 $605,470.80
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 641,685.42 $613,232.90
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 636,121.41 $622,304.79
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 636,355.89 $628,565.31
FN MA4733 4.50000 09/01/2052 US 715,327.79 $712,324.99
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 4,760.27 $5,106.09
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,326.09 $10,021.73
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 797.82 $810.29
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,457.95 $13,766.11
FEDEX CORPORATION US FDX 2,681.01 $565,184.70
FIFTH THIRD BANCORP US FITB 359.83 $12,288.08
FLX 2021-1A A2 3.25000 11/27/2051 US 524,384.87 $479,132.50
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 427,505.24 $407,124.70
FORD MOTOR CREDIT 3.08700 01/09/2023 US 84,587.16 $83,924.56
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 56,624.7 $51,351.69
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 242,155.52 $218,963.01
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 302,423.78 $273,983.57
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 88,536.49 $79,824.99
GENERAL DYNAMICS CORP US GD 102.84 $23,542.63
GENERAL MLS INC US GIS 259.45 $19,925.44
GENUINE PARTS CO US GPC 80.37 $12,539.28
GETTY REALTY CORP US GTY 1,585.18 $47,682.08
GILEAD SCIENCES INC US GILD 465.12 $29,521.26
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 81,372.13 $72,974.50
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 127,389.3 $120,892.66
GRAPHIC PACKAGING HOLDING CO US GPK 28,451.27 $633,609.79
GREENIDGE GEN HLD INC US 3,257.15 $45,632.65
GRUPO AEROPORTUARIO PAC-ADR MX PAC 132.39 $18,874.89
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 92.45 $19,550.11
AIRBUS SE FR AIR FP 587.68 $57,589.00
ADIDAS AG DE ADS GR 766.9 $113,717.68
HCA INC 4.12500 06/15/2029 US 475,951.6 $442,173.88
HDFC BANK LTD-ADR IN HDB 1,277.43 $77,987.33
L'OREAL FR OR FP 76.16 $26,157.75
HAWAII ST 2.68200 10/01/2038 US 117,257.67 $92,170.67
HEALTHCARE REALTY TRUST INC US HR 3,937.81 $95,767.44
HEINEKEN NV-SPN ADR NL HEINY 12,707.24 $570,809.28
HOME DEPOT INC US HD 226.94 $65,455.45
HONEYWELL INTERNATIONAL INC US HON 195.08 $36,937.67
HWIRE 2021-1 A2 2.31100 11/20/2051 US 379,032.7 $335,398.41
IIP OPERATING PARTNER 5.50000 05/25/2026 US 129,510.86 $115,360.06
IDEXX LABORATORIES INC US IDXX 1,789.87 $622,193.38
KERRY GROUP PLC-A IE KYGA ID 473.2 $48,796.74
ILLINOIS TOOL WKS INC US ITW 114.35 $22,278.84
IMPRL 2021-NQM3 1.59500 11/25/2056 US 287,097.87 $245,031.19
INDEPENDENCE REALTY TRUST IN US IRT 1,742.77 $33,896.80
INTEL CORP US INTC 1,103.56 $35,225.53
INTERCONTINENTALEXCHANGE INC US ICE 12,113.6 $1,221,656.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 116.67 $12,889.31
INTUITIVE SURGICAL INC US ISRG 2,975.62 $612,204.82
INVITATION HOMES INC US INVH 3,684.4 $133,669.99
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 101,083.24 $96,160.49
JP MORGAN CHASE & CO US JPM 629.03 $71,539.59
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 104,953.12 $100,176.80
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 781,319.51 $759,995.99
JOHNSON & JOHNSON US JNJ 12,555.66 $2,025,730.34
KREF 2021-FL2 A 3.44971 02/15/2039 US 364,994.45 $354,212.84
KEYCORP US KEY 387.62 $6,857.08
KROGER CO US KR 320.66 $15,372.30
L3HARRIS TECHNOLOGIES INC US LHX 2,788.9 $636,399.68
BEIERSDORF AG DE BEI GR 1,193.69 $120,490.86
LENNAR CORP US LEN 112.45 $8,709.61
LIFE STORAGE INC US LSI 708 $90,093.12
LOCKHEED MARTIN CORP US LMT 81.57 $34,267.61
LULULEMON - ADR CA LULU 2,533.95 $760,083.27
MAGALLANES INC 4.05400 03/15/2029 US 805,187.48 $732,863.64
MARATHON PETROLEUM CORP US MPC 162.43 $16,365.25
MARRIOTT VACATIONS WORLD US VAC 331.54 $47,217.60
MASTERCARD INC-CLASS A US MA 5,924.56 $1,921,748.79
MCDONALDS CORP US MCD 140.81 $35,524.55
MERCADOLIBRE INC BR MELI 131.76 $112,701.10
MERCK & CO INC US MRK 658.02 $56,168.67
MICROSOFT CORP US MSFT 8,872.31 $2,319,842.01
MICROCHIP TECHNOLOGY INC US MCHP 187.85 $12,256.92
MID-AMERICA APARTMENT COMM US MAA 587.54 $97,338.40
MONDELEZ INTERNATIONAL INC US MDLZ 20,692.35 $1,280,028.96
MOODY'S CORPORATION US MCO 3,772.7 $1,073,408.76
MOTOROLA SOLUTIONS INC US MSI 70.83 $17,240.28
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 80,598.09 $75,409.16
NAVIENT CORP 6.75000 06/25/2025 US 152,327.92 $147,059.71
NESTLE S.A. - ADR CH NSRGY 8,122.7 $950,842.88
NETAPP INC US NTAP 127.13 $9,169.58
USRE 2021-1 A1 1.91000 10/20/2061 US 429,921.35 $373,461.54
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 100,282.65 $95,919.17
NRZT 2015-2A A1 3.75000 08/25/2055 US 157,352.86 $149,978.27
NRZT 2016-4A A1 3.75000 11/25/2056 US 301,218.23 $287,560.00
KEYENCE CORP JP 6861 JP 245.69 $92,248.61
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 174,092.44 $168,321.66
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 350,294.88 $303,971.50
NEWMONT GOLDCORP CORP US NEM 6,206.76 $256,711.45
NIKE INC CLASS B US NKE 5,495.67 $585,014.34
NORFOLK SOUTHN CORP US NSC 2,623.6 $637,876.16
NIKON CORP JP 7731 JP 4,415.35 $50,402.24
NORTHROP GRUMMAN CORP US NOC 1,506.55 $720,118.20
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 156,538.91 $15.65
NOVARTIS AG- REG CH NVS 17,293.32 $1,392,458.31
NUCOR CORP US NUE 113.79 $15,127.03
OBX 2022-INV1 A1 3.00000 12/25/2051 US 91,709.92 $81,739.32
OMNICOM GROUP US OMC 126.56 $8,467.15
SONY CORP FIRST SECTION JP 6758 JP 1,081.02 $85,944.96
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 336,255 $300,862.33
OXFIN 2020-1A A2 3.10100 02/15/2028 US 347,243.87 $343,830.42
OXFIN 2022-1A 3.60200 02/15/2030 US 458,051.86 $429,921.66
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,262 $73,221.18
PPG INDUSTRIES INC US PPG 76.65 $9,733.58
PACKAGING CORP OF AMERICA US PKG 58.68 $8,035.04
PARKER HANNIFIN CORP US PH 42.47 $11,254.23
DEUTSCHE BOERSE AG DE DB1 GR 610.43 $103,207.77
PAYPAL HOLDINGS INC US PYPL 12,723.16 $1,188,852.08
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 551,836.39 $524,006.13
PELORUS FUND REIT 7.00000 09/30/2026 US 121,432.65 $113,059.62
NESTLE SA-REGISTERED CH NESN SW 1,575.98 $184,425.75
PEPSICO INC 3.90000 07/18/2032 US 598,098.77 $587,542.53
PFIZER INC US PFE 933.26 $42,211.39
PIONEER NATURAL RESOURCES CO US PXD 67.11 $16,993.03
POPULAR INC 6.12500 09/14/2023 PR 136,534.89 $138,283.39
PROCTER & GAMBLE CO US PG 503.52 $69,455.37
PROLOGIS US PLD 3,099.03 $385,860.45
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 460,214.38 $393,432.89
PFMT 2021-2 A2A 2.00000 04/25/2051 US 278,162.31 $243,065.36
PUBLIC STORAGE INC US PSA 545.07 $180,327.13
QUALCOMM INC US QCOM 319.39 $42,246.23
QUALCOMM INC 4.25000 05/20/2032 US 154,492.75 $156,328.16
QUEST DIAGNOSTICS INC US DGX 74.97 $9,394.46
RCKT 2021-6 A1 2.50000 12/25/2051 US 523,277.48 $446,295.12
RADIUS GLOBAL INFRASTRUCTURE US RADI 11,269.11 $155,175.69
REGIONS FINANCIAL CORP. US RF 505.27 $10,949.28
REPUBLIC SERVICES INC US RSG 135.34 $19,315.53
RESTAURANT BRANDS INTERN CA QSR 973.28 $57,423.24
REXFORD INDUSTRIAL REALITY IN US REXR 1,913.84 $119,059.70
GETINGE AB-B SHS SE GETIB SS 4,575.47 $84,744.81
ROSS STORES INC US ROST 119.12 $10,276.75
HEINEKEN NV NL HEIA NA 1,123.77 $101,003.75
RYANAIR HOLDINGS - ADR IE RYAAY 7,536.25 $547,961.08
SBA TOWER TRUST 1.88400 01/15/2026 US 121,487.48 $109,475.17
S&P GLOBAL INC US SPGI 1,168.21 $411,421.90
SBA COMMUNICATIONS CORP US SBAC 5,114.5 $1,663,492.32
NAVIENT CORP 5.50000 01/25/2023 US 72,303.69 $71,965.51
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 292,834.34 $250,413.04
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 277,184.95 $256,968.04
SMB 2020-BA A1A 1.29000 07/15/2053 US 346,478.05 $314,069.75
SALESFORCE INC US CRM 7,619.65 $1,189,579.57
SEA LTD - ADR SG SE 1,366.23 $84,706.41
SEAGEN INC US SGEN 3,554.25 $548,385.40
SEMT 2013-6 A2 3.00000 05/25/2043 US 128,285.16 $119,926.18
SEMT 2013-7 A2 3.00000 06/25/2043 US 54,625.25 $48,980.78
SEMT 2013-8 A1 3.00000 06/25/2043 US 64,253.22 $60,213.00
SEMT 2013-2 1.87400 02/25/2043 US 52,072.55 $46,086.30
SERVICENOW INC US NOW 2,910.81 $1,265,094.36
SHOPIFY INC CA SHOP 1,140.69 $36,102.93
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,047,375.08 $876,945.84
SKYWORKS SOLUTIONS INC US SWKS 67.18 $6,620.39
JM SMUCKER CO/THE-NEW COM WI US SJM 66.62 $9,325.62
SNOWFLAKE INC-CLASS A US SNOW 3,218.65 $582,414.08
SOFI 2017-F A2FX 2.84000 01/25/2041 US 23,132.96 $22,674.97
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 106,938.37 $104,812.68
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 174,595.18 $166,169.96
SONY CORP SPONSORED ADR JP SONY 7,523.45 $596,985.55
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 733,172.71 $658,426.15
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 58,285.9 $59,831.43
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 515,941.62 $525,495.50
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 70,197.79 $69,847.28
STANLEY BLACK & DECKER INC US SWK 62.97 $5,547.32
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 572,412.76 $401,083.99
STEEL DYNAMICS INC US STLD 115.89 $9,354.99
SUN COMMUNITIES US SUI 976.08 $150,033.32
SCML 2019-SBC8 2.86000 04/25/2041 US 81,684.42 $75,525.17
SYNCHRONOSS TECH US 6,362.29 $138,188.88
SYNERGY ONE LENDING 5.50000 10/14/2026 US 171,281.03 $147,896.22
TJX COMPANIES INC US TJX 307.39 $19,165.77
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,478.61 $123,242.35
TARGET CORP US TGT 109.23 $17,513.24
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,322,551.58 $1,246,494.61
TERRENO REALTY CORP US TRNO 1,234.61 $75,299.13
TEXAS INSTRUMENTS INC US TXN 191.21 $31,590.60
THERMO FISHER SCIENTIFIC INC US TMO 1,204.08 $656,608.35
3M CO US MMM 193.39 $24,048.18
TPMT 2016-5 A1 2.50000 10/25/2056 US 133,113.19 $131,780.32
TPMT 2017-1 A1 2.75000 10/25/2056 US 69,085.6 $68,492.64
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 135,214.69 $133,695.88
TRACTOR SUPPLY COMPANY US TSCO 47.1 $8,720.90
TRAVELLERS COS INC US TRV 101.22 $16,361.72
TAH 2017-SFR2 A 2.92800 01/17/2036 US 306,930.86 $301,910.82
TCF 2021-1A 1.86000 03/20/2046 US 401,350.58 $347,023.98
TYSON FOODS INC -CL A US TSN 164.89 $12,429.51
UDR INC US UDR 3,000.97 $134,653.32
U.S. BANCORP US USB 525.98 $23,990.02
UNILEVER PLC - ADR GB UL 30,154.32 $1,368,704.78
UNION PAC CORP US UNP 180.33 $40,486.87
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 135,804.41 $114,405.02
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 24,837.87 $23,154.44
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 84,236.04 $84,310.44
UNITED PARCEL SERVICE US UPS 3,429.73 $667,116.89
US TREASURY N/B 3.00000 05/15/2047 US 3,582,560.9 $3,270,206.37
TREASURY BOND 2.37500 02/15/2042 US 6,904,467.33 $5,747,969.06
TREASURY BOND 2.25000 11/15/2027 US 4,216,916.28 $4,002,117.10
US TREASURY N/B 3.12500 11/15/2028 US 6,161,036.1 $6,097,019.12
US TREASURY N/B 2.25000 11/15/2025 US 1,416,417.59 $1,364,076.54
US TREASURY N/B 2.00000 11/15/2026 US 3,782,928.83 $3,576,641.00
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,999,660.59 $2,966,148.77
US TREASURY N/B 1.37500 11/15/2031 US 2,834,467.29 $2,435,427.44
VF CORP US VFC 157.31 $6,520.50
VENTAS INC US VTR 1,122.16 $53,706.58
VERTEX PHARMACEUTICALS INC US VRTX 2,790.24 $786,177.31
PARAMOUNT GLOBAL CLASS B US PARA 260.71 $6,097.99
VISA INC - CLASS A SHARES US V 7,732.96 $1,536,617.27
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 147,067.67 $141,823.50
VISTRA OPERATIONS 4.87500 05/13/2024 US 515,965.36 $510,068.31
WAL MART STORES US WMT 583.47 $77,339.26
WALGREENS BOOTS ALLIANCE INC US WBA 290.54 $10,186.44
WASTE MANAGEMENT INC US WM 150.85 $25,498.50
WELLTOWER INC. US WELL 1,296.11 $99,346.58
WIN 2015-1 A1 3.50000 01/20/2045 US 32,455.18 $31,257.21
ZOETIS INC US ZTS 1,701.14 $266,280.16
ADMIRAL GROUP PLC GB ADM LN 5,742.35 $141,254.78
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,786.8 $18,238.35
UBISOFT ENTERTAINMENT FR UBI FP 1,786.85 $82,400.57
DANONE FR BN FP 892.62 $46,969.81
AIR LIQUIDE FR AI FP 1,344.54 $168,488.34
BRENNTAG AG DE BNR GR 1,135.08 $74,424.06
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 596,658.28 $27,347.65
KEYWORDS STUDIOS PLC IE KWS LN 913.54 $26,328.75
S4 CAPITAL PLC GB SFOR LN 44,774.74 $68,817.36
HELIOS TOWERS PLC GB HTWS LN 27,906.8 $39,992.39
AVANZA BANK HOLDING AB SE AZA SS 4,311.6 $69,110.84
AMERICAN TANKER INC 7.75000 07/02/2025 US 162,857.43 $157,446.92
SOFTWAREONE HOLDING AG CH SWON SW 5,850.73 $76,920.20
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,289.19 $52,133.72
SEASPAN CORP 6.50000 02/05/2024 MH 98,280.83 $97,540.52
PETROTAL CORP 12.00000 02/16/2024 CA 126,916.5 $129,454.83
FINECOBANK SPA IT FBK IM 13,212.01 $142,852.21
ALLFUNDS GROUP PLC GB ALLFG NA 7,307.23 $57,372.71
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 168,472.07 $168,939.13
ROTORK PLC GB ROR LN 25,188.36 $72,260.56
AUTO TRADER GROUP PLC GB AUTO LN 18,412.01 $139,023.23
CELLNEX TELECOM SA ES CLNX SM 2,081.74 $81,068.78
ASSA ABLOY AB-B SE ASSAB SS 4,077.5 $82,585.52
CLEANAWAY WASTE MANAGEMENT AU CWY AU 53,948.39 $102,464.47
INTERMEDIATE CAPITAL GROUP GB ICP LN 5,143.22 $81,302.81
ADYEN NV NL ADYEN NA 82.34 $127,063.31
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,556.33 $50,767.54
BUNGE LIMITED US BG 82.13 $8,144.81
EATON CORP PLC US ETN 156.54 $21,389.36
JOHNSON CONTROLS INTERNATIONAL US JCI 283.1 $15,327.15
MEDTRONIC INC IE MDT 8,723.47 $766,967.20
ROYALTY PHARMA PLC- CL A US RPRX 232 $9,699.88
STONECO LTD-A BR STNE 5,747.97 $54,490.80
TRANE TECHNOLOGIES IE TT 75.04 $11,561.41
ALCON INC CH ALC 10,821.75 $710,772.71
CHUBB LTD CH CB 138.99 $26,275.86
GARMIN LTD CH GRMN 102.7 $9,087.69
TE CONNECTIVITY LIMITED CH TEL 103.12 $13,014.60
LYONDELLBASELL INDU-CL A US LYB 107.12 $8,890.94
PLAYA HOTELS AND RESORTS US PLYA 3,445.51 $22,602.57
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 69,208.18 $66,553.94

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

$14.06

Daily $ Change

-$0.12

Daily % Change

-0.85%

as of 09/29/2022

CUSIP

56382R845

Inception Date

04/17/2015

This fund is available only 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 08/31/2022

YTD

-13.58%

1 Year

-12.88%

3 Year

5.87%

5 Year

6.25%

10 Year

7.27%

Inception
(01/01/2000)

7.06%

Performance through the inception date of the Retirement Target CIT Class U1 units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (01/06/2005) 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. Returns are net of the Class U1 expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.50%
Net 0.49%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 13.03%
TREASURY BONDS 10.32%
GOVERNMENT AGENCY 6.21%
AMAZON.COM INC 2.34%
MICROSOFT CORP 1.84%
JOHNSON & JOHNSON 1.61%
MASTERCARD INC-CLASS A 1.52%
SBA COMMUNICATIONS CORP 1.32%
META PLATFORMS INC 1.31%
VISA INC - CLASS A SHARES 1.22%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Bonds
49.38%
Stocks
47.01%
Cash
3.61%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
12.43%
Small Capitalization
0.78%
Mid Capitalization
3.25%
Large Capitalization
30.54%
Long Term Fixed Income
16.46%
Intermediate Term Fixed Income
28.91%
Short Term Fixed Income
4.02%
Cash
3.61%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 316.45 $32,483.14
ACTIVISION INC US ATVI 8,615.76 $676,250.85
ADIDAS AG-SPONSORED ADR DE ADDYY 5,768.88 $427,935.32
ADMIRAL GROUP PLC GB AMIGY 23,894.26 $601,657.51
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 276,561.34 $237,032.99
ADYEN NV UNSPON ADR NL ADYEY 44,021.59 $682,774.93
AGREE REALTY CORP US ADC 583.05 $43,915.44
AIR LIQUIDE-ADR FR AIQUY 35,702.29 $895,056.51
AIR LEASE CORP 3.62500 04/01/2027 US 331,340.95 $307,401.34
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 45,727.58 $46,038.83
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 671,814.3 $564,979.37
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 193,048.83 $160,873.41
ALLSTATE CORPORATION US ALL 133.72 $16,113.76
ALPHABET INC-CL A US GOOGL 10,391.87 $1,124,607.68
AMAZON.COM INC US AMZN 23,323.08 $2,956,667.03
AMAZON.COM INC 3.30000 04/13/2027 US 654,960.54 $640,831.51
DIAGEO PLC GB DGE LN 2,891.67 $125,632.62
BAE SYSTEMS PLC GB BA/ LN 11,316.57 $101,918.16
AMERICAN HOMES 4 RENT- A US AMH 2,909.64 $103,466.83
AMERICAN TOWER REIT INC US AMT 324.94 $82,550.74
ANALOG DEVICES INC US ADI 182.51 $27,655.86
APPLE HOSPITALITY REIT INC US APLE 6,484.18 $103,163.33
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 47,383.18 $47,853.25
ARCHER-DANIELS-MIDLAND CO US ADM 208.48 $18,323.60
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 292,735.77 $268,254.73
AUTOMATIC DATA PROCESSING US ADP 129.93 $31,757.01
AVALONBAY COMMUNITIES INC US AVB 493.34 $99,117.03
BAE SYSTEMS PLC -SPON ADR GB BAESY 16,834.78 $607,735.52
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 299,751.62 $295,084.09
BANK OF AMERICA CORP 2.68700 04/22/2032 US 546,853.27 $456,411.07
BARRICK GOLD CORP CA GOLD 20,794.88 $308,803.99
BAXTER INTERNATIONAL INC US BAX 160.89 $9,244.75
BEST BUY INC US BBY 129.51 $9,155.23
BIOMARIN PHARMACEUTICAL INC US BMRN 9,398.88 $838,380.04
BLACKROCK INC US BLK 909.39 $606,010.83
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 285,360.62 $252,487.15
DECHRA PHARMACEUTICALS PLC GB DPH LN 2,327.79 $94,142.42
BRANDYWINE REALTY TRUST US BDN 3,655.12 $29,350.65
BABS 2021-RM2 A 1.75000 10/25/2061 US 222,967.29 $198,029.98
BRISTOL MYERS SQUIBB CO US BMY 603.55 $40,685.21
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.19 $10,645.76
JONAH ENERGY PARENT LLC US 1,960.67 $111,581.48
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 308,549.76 $280,391.57
SORT 2020-1 A2 1.99000 07/15/2060 US 253,544.76 $217,361.34
C.H. ROBINSON WORLDWIDE INC US CHRW 84.59 $9,655.57
CIM 2019-INV1 A1 4.00000 02/25/2049 US 15,097.12 $14,982.00
COMM 2014-UBS4 A5 3.69400 08/10/2047 US 252,806.31 $248,815.26
COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 140,447.95 $136,445.89
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 85,681.68 $79,589.79
COTERRA ENERGY INC US CTRA 315.11 $9,740.10
CAMDEN PROPERTY TRUST US CPT 555.96 $71,445.85
CAMECO CORP CA CCJ 1,558.43 $45,428.29
CAMPBELL SOUP CO US CPB 185.11 $9,325.72
CANADIAN NATIONAL RAILWAY CO CA CNI 8,756.42 $1,041,225.96
CARETRUST REIT INC US CTRE 3,929.03 $84,631.35
CATERPILLAR INC US CAT 166.37 $30,729.37
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,488.97 $67,790.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 705,018.62 $770,026.88
CHARTER COMMUNICATIONS INC-A US CHTR 2,092.27 $863,333.53
CHEVRON CORP US CVX 305.14 $48,231.03
CINCINNATI FINANCIAL CORP US CINF 85.01 $8,242.36
CISCO SYSTEMS INC US CSCO 1,039.19 $46,472.47
CITIGROUP INC US C 634.65 $30,977.06
CITIGROUP INC 1.46200 06/09/2027 US 523,687.54 $462,240.27
CLARK CNTY NV 1.51000 11/01/2028 US 143,256.91 $122,653.54
COCA COLA CO/THE US KO 17,906.55 $1,105,013.24
COLGATE-PALMOLIVE CO US CL 309.43 $24,200.18
COMCAST CORP-CL A US CMCSA 1,123.77 $40,669.39
COMMUNITY HEALTHCARE TRUST I US CHCT 1,224.79 $45,182.40
CONAGRA BRAND INC. US CAG 282.33 $9,706.50
CONOCOPHILLIPS US COP 283.45 $31,023.94
CONTROLADORA VUELA CIA DE AV MX VLRS 4,038.54 $35,862.23
COPART INC US CPRT 5,351.53 $640,310.16
COUSINS PROPERTIES INC US CUZ 2,706.42 $72,667.44
CAALT 2020-1A 2.01000 02/15/2029 US 86,394.79 $86,257.46
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 136,936.75 $126,561.37
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 407,158.3 $360,451.74
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 48,073.8 $42,822.21
CUMMINS INC US CMI 67.95 $14,634.42
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 74,437.41 $66,288.82
KIMBERLY CLARK DE MEXICO S.A.B. MX 79,111.32 $107,398.04
DEVON ENERGY CORPORATION US DVN 206.8 $14,604.12
DIAMONDBACK ENERGY INC US FANG 67.11 $8,944.12
DIGITAL REALTY TRUST INC US DLR 1,011.88 $125,098.79
DOLLAR TREE STORES INC US DLTR 4,465.96 $605,941.57
DOW INC US DOW 220.84 $11,262.74
DREYFUS GVT CSH MANAGEMENT US 4,719,776.12 $4,719,776.12
DUKE RLTY INVTS INC US DRE 1,169.26 $68,811.01
EOG RESOURCES INC US EOG 155.06 $18,809.25
EASTMAN CHEM CO US EMN 79.32 $7,218.29
EBAY INC US EBAY 199.43 $8,800.75
ELECTRONIC ARTS US EA 5,123.28 $649,991.16
EMERSON ELEC CO US EMR 225.96 $18,470.16
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 734,279.26 $742,211.97
EQUINIX INC US EQIX 1,432.36 $941,590.46
EQUITY LIFESTYLE PROPERTIES US ELS 2,069.11 $145,044.47
ESSEX PROPERTY TRUST INC US ESS 306.48 $81,234.90
EXPEDIA GROUP INC 3.25000 02/15/2030 US 330,640.35 $286,116.47
EXTRA SPACE STORAGE INC US EXR 248.35 $49,355.56
FMC CORP US FMC 12,985.26 $1,403,447.38
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 137,588.25 $138,092.54
FREMF 2015-K43 B FLT 3.85980 02/25/2048 US 898,523.17 $868,897.42
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 49,496,147.53 $11,602.39
META PLATFORMS INC US META 10,133.96 $1,651,126.86
FHLM POOL G03332 6.00000 10/01/2037 US 1,591.25 $1,715.64
FHLM POOL G05900 6.00000 03/01/2040 US 3,190.01 $3,454.55
FHLM POOL G05906 6.00000 04/01/2040 US 18,220.09 $19,571.22
FHLM POOL G06995 6.00000 05/01/2040 US 9,421.17 $10,164.12
FHLM POOL G13331 5.50000 10/01/2023 US 120.68 $121.38
FHLM POOL G12988 6.00000 01/01/2023 US 22.81 $22.81
FHLM POOL G13078 6.00000 03/01/2023 US 46.5 $46.51
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 140,845.07 $142,302.51
FHLM POOL C91780 4.50000 07/01/2034 US 137,469.47 $141,046.33
FR SD1129 4.00000 08/01/2051 US 551,686.12 $544,796.20
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 624,975.26 $584,242.27
FHLM POOL SD8230 4.50000 06/01/2052 US 448,168.61 $446,632.87
FHLM POOL K91364 4.50000 11/01/2033 US 17,316.8 $17,635.94
FHLM POOL K92059 4.50000 09/01/2034 US 111,500.43 $114,367.86
FHLM POOL G60034 4.50000 02/01/2045 US 74,342.48 $76,012.24
FNR 2018-31 KP 3.50000 07/25/2047 US 12,537.58 $12,395.10
FHMS K030 X1 FLT 0.25907 04/25/2023 US 16,901,002.2 $10,718.79
FHMS K032 X1 FLT 0.17942 05/25/2023 US 11,218,937.07 $5,729.62
FHR 5189 CP 2.50000 06/25/2049 US 115,390.19 $105,051.57
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 32,444.25 $33,185.64
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 41,366.3 $42,311.56
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 572,349.89 $609,824.32
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 10,423.25 $10,079.08
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 34,361.27 $34,083.14
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 322,664.86 $310,774.31
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 597,422.85 $577,645.88
FN DS2696 3.00000 12/01/2051 US 762,010.37 $711,797.29
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 5.58 $5.57
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 9,693.66 $10,444.93
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 15,240.67 $15,590.16
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 116,855.82 $119,535.49
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 50,906.34 $49,535.30
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 664,195.05 $605,470.80
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 641,685.42 $613,232.90
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 636,121.41 $622,304.79
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 636,355.89 $628,565.31
FN MA4733 4.50000 09/01/2052 US 715,327.79 $712,324.99
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 4,760.27 $5,106.09
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 9,326.09 $10,021.73
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 797.82 $810.29
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 13,457.95 $13,766.11
FEDEX CORPORATION US FDX 2,681.01 $565,184.70
FIFTH THIRD BANCORP US FITB 359.83 $12,288.08
FLX 2021-1A A2 3.25000 11/27/2051 US 524,384.87 $479,132.50
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 427,505.24 $407,124.70
FORD MOTOR CREDIT 3.08700 01/09/2023 US 84,587.16 $83,924.56
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 56,624.7 $51,351.69
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 242,155.52 $218,963.01
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 302,423.78 $273,983.57
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 88,536.49 $79,824.99
GENERAL DYNAMICS CORP US GD 102.84 $23,542.63
GENERAL MLS INC US GIS 259.45 $19,925.44
GENUINE PARTS CO US GPC 80.37 $12,539.28
GETTY REALTY CORP US GTY 1,585.18 $47,682.08
GILEAD SCIENCES INC US GILD 465.12 $29,521.26
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 81,372.13 $72,974.50
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 127,389.3 $120,892.66
GRAPHIC PACKAGING HOLDING CO US GPK 28,451.27 $633,609.79
GREENIDGE GEN HLD INC US 3,257.15 $45,632.65
GRUPO AEROPORTUARIO PAC-ADR MX PAC 132.39 $18,874.89
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 92.45 $19,550.11
AIRBUS SE FR AIR FP 587.68 $57,589.00
ADIDAS AG DE ADS GR 766.9 $113,717.68
HCA INC 4.12500 06/15/2029 US 475,951.6 $442,173.88
HDFC BANK LTD-ADR IN HDB 1,277.43 $77,987.33
L'OREAL FR OR FP 76.16 $26,157.75
HAWAII ST 2.68200 10/01/2038 US 117,257.67 $92,170.67
HEALTHCARE REALTY TRUST INC US HR 3,937.81 $95,767.44
HEINEKEN NV-SPN ADR NL HEINY 12,707.24 $570,809.28
HOME DEPOT INC US HD 226.94 $65,455.45
HONEYWELL INTERNATIONAL INC US HON 195.08 $36,937.67
HWIRE 2021-1 A2 2.31100 11/20/2051 US 379,032.7 $335,398.41
IIP OPERATING PARTNER 5.50000 05/25/2026 US 129,510.86 $115,360.06
IDEXX LABORATORIES INC US IDXX 1,789.87 $622,193.38
KERRY GROUP PLC-A IE KYGA ID 473.2 $48,796.74
ILLINOIS TOOL WKS INC US ITW 114.35 $22,278.84
IMPRL 2021-NQM3 1.59500 11/25/2056 US 287,097.87 $245,031.19
INDEPENDENCE REALTY TRUST IN US IRT 1,742.77 $33,896.80
INTEL CORP US INTC 1,103.56 $35,225.53
INTERCONTINENTALEXCHANGE INC US ICE 12,113.6 $1,221,656.05
INTERNATIONAL FLVRS & FRAGRANCES US IFF 116.67 $12,889.31
INTUITIVE SURGICAL INC US ISRG 2,975.62 $612,204.82
INVITATION HOMES INC US INVH 3,684.4 $133,669.99
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 101,083.24 $96,160.49
JP MORGAN CHASE & CO US JPM 629.03 $71,539.59
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 104,953.12 $100,176.80
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 781,319.51 $759,995.99
JOHNSON & JOHNSON US JNJ 12,555.66 $2,025,730.34
KREF 2021-FL2 A 3.44971 02/15/2039 US 364,994.45 $354,212.84
KEYCORP US KEY 387.62 $6,857.08
KROGER CO US KR 320.66 $15,372.30
L3HARRIS TECHNOLOGIES INC US LHX 2,788.9 $636,399.68
BEIERSDORF AG DE BEI GR 1,193.69 $120,490.86
LENNAR CORP US LEN 112.45 $8,709.61
LIFE STORAGE INC US LSI 708 $90,093.12
LOCKHEED MARTIN CORP US LMT 81.57 $34,267.61
LULULEMON - ADR CA LULU 2,533.95 $760,083.27
MAGALLANES INC 4.05400 03/15/2029 US 805,187.48 $732,863.64
MARATHON PETROLEUM CORP US MPC 162.43 $16,365.25
MARRIOTT VACATIONS WORLD US VAC 331.54 $47,217.60
MASTERCARD INC-CLASS A US MA 5,924.56 $1,921,748.79
MCDONALDS CORP US MCD 140.81 $35,524.55
MERCADOLIBRE INC BR MELI 131.76 $112,701.10
MERCK & CO INC US MRK 658.02 $56,168.67
MICROSOFT CORP US MSFT 8,872.31 $2,319,842.01
MICROCHIP TECHNOLOGY INC US MCHP 187.85 $12,256.92
MID-AMERICA APARTMENT COMM US MAA 587.54 $97,338.40
MONDELEZ INTERNATIONAL INC US MDLZ 20,692.35 $1,280,028.96
MOODY'S CORPORATION US MCO 3,772.7 $1,073,408.76
MOTOROLA SOLUTIONS INC US MSI 70.83 $17,240.28
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 80,598.09 $75,409.16
NAVIENT CORP 6.75000 06/25/2025 US 152,327.92 $147,059.71
NESTLE S.A. - ADR CH NSRGY 8,122.7 $950,842.88
NETAPP INC US NTAP 127.13 $9,169.58
USRE 2021-1 A1 1.91000 10/20/2061 US 429,921.35 $373,461.54
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 100,282.65 $95,919.17
NRZT 2015-2A A1 3.75000 08/25/2055 US 157,352.86 $149,978.27
NRZT 2016-4A A1 3.75000 11/25/2056 US 301,218.23 $287,560.00
KEYENCE CORP JP 6861 JP 245.69 $92,248.61
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 174,092.44 $168,321.66
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 350,294.88 $303,971.50
NEWMONT GOLDCORP CORP US NEM 6,206.76 $256,711.45
NIKE INC CLASS B US NKE 5,495.67 $585,014.34
NORFOLK SOUTHN CORP US NSC 2,623.6 $637,876.16
NIKON CORP JP 7731 JP 4,415.35 $50,402.24
NORTHROP GRUMMAN CORP US NOC 1,506.55 $720,118.20
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 156,538.91 $15.65
NOVARTIS AG- REG CH NVS 17,293.32 $1,392,458.31
NUCOR CORP US NUE 113.79 $15,127.03
OBX 2022-INV1 A1 3.00000 12/25/2051 US 91,709.92 $81,739.32
OMNICOM GROUP US OMC 126.56 $8,467.15
SONY CORP FIRST SECTION JP 6758 JP 1,081.02 $85,944.96
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 336,255 $300,862.33
OXFIN 2020-1A A2 3.10100 02/15/2028 US 347,243.87 $343,830.42
OXFIN 2022-1A 3.60200 02/15/2030 US 458,051.86 $429,921.66
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 76,262 $73,221.18
PPG INDUSTRIES INC US PPG 76.65 $9,733.58
PACKAGING CORP OF AMERICA US PKG 58.68 $8,035.04
PARKER HANNIFIN CORP US PH 42.47 $11,254.23
DEUTSCHE BOERSE AG DE DB1 GR 610.43 $103,207.77
PAYPAL HOLDINGS INC US PYPL 12,723.16 $1,188,852.08
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 551,836.39 $524,006.13
PELORUS FUND REIT 7.00000 09/30/2026 US 121,432.65 $113,059.62
NESTLE SA-REGISTERED CH NESN SW 1,575.98 $184,425.75
PEPSICO INC 3.90000 07/18/2032 US 598,098.77 $587,542.53
PFIZER INC US PFE 933.26 $42,211.39
PIONEER NATURAL RESOURCES CO US PXD 67.11 $16,993.03
POPULAR INC 6.12500 09/14/2023 PR 136,534.89 $138,283.39
PROCTER & GAMBLE CO US PG 503.52 $69,455.37
PROLOGIS US PLD 3,099.03 $385,860.45
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 460,214.38 $393,432.89
PFMT 2021-2 A2A 2.00000 04/25/2051 US 278,162.31 $243,065.36
PUBLIC STORAGE INC US PSA 545.07 $180,327.13
QUALCOMM INC US QCOM 319.39 $42,246.23
QUALCOMM INC 4.25000 05/20/2032 US 154,492.75 $156,328.16
QUEST DIAGNOSTICS INC US DGX 74.97 $9,394.46
RCKT 2021-6 A1 2.50000 12/25/2051 US 523,277.48 $446,295.12
RADIUS GLOBAL INFRASTRUCTURE US RADI 11,269.11 $155,175.69
REGIONS FINANCIAL CORP. US RF 505.27 $10,949.28
REPUBLIC SERVICES INC US RSG 135.34 $19,315.53
RESTAURANT BRANDS INTERN CA QSR 973.28 $57,423.24
REXFORD INDUSTRIAL REALITY IN US REXR 1,913.84 $119,059.70
GETINGE AB-B SHS SE GETIB SS 4,575.47 $84,744.81
ROSS STORES INC US ROST 119.12 $10,276.75
HEINEKEN NV NL HEIA NA 1,123.77 $101,003.75
RYANAIR HOLDINGS - ADR IE RYAAY 7,536.25 $547,961.08
SBA TOWER TRUST 1.88400 01/15/2026 US 121,487.48 $109,475.17
S&P GLOBAL INC US SPGI 1,168.21 $411,421.90
SBA COMMUNICATIONS CORP US SBAC 5,114.5 $1,663,492.32
NAVIENT CORP 5.50000 01/25/2023 US 72,303.69 $71,965.51
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 292,834.34 $250,413.04
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 277,184.95 $256,968.04
SMB 2020-BA A1A 1.29000 07/15/2053 US 346,478.05 $314,069.75
SALESFORCE INC US CRM 7,619.65 $1,189,579.57
SEA LTD - ADR SG SE 1,366.23 $84,706.41
SEAGEN INC US SGEN 3,554.25 $548,385.40
SEMT 2013-6 A2 3.00000 05/25/2043 US 128,285.16 $119,926.18
SEMT 2013-7 A2 3.00000 06/25/2043 US 54,625.25 $48,980.78
SEMT 2013-8 A1 3.00000 06/25/2043 US 64,253.22 $60,213.00
SEMT 2013-2 1.87400 02/25/2043 US 52,072.55 $46,086.30
SERVICENOW INC US NOW 2,910.81 $1,265,094.36
SHOPIFY INC CA SHOP 1,140.69 $36,102.93
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,047,375.08 $876,945.84
SKYWORKS SOLUTIONS INC US SWKS 67.18 $6,620.39
JM SMUCKER CO/THE-NEW COM WI US SJM 66.62 $9,325.62
SNOWFLAKE INC-CLASS A US SNOW 3,218.65 $582,414.08
SOFI 2017-F A2FX 2.84000 01/25/2041 US 23,132.96 $22,674.97
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 106,938.37 $104,812.68
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 174,595.18 $166,169.96
SONY CORP SPONSORED ADR JP SONY 7,523.45 $596,985.55
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 733,172.71 $658,426.15
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 58,285.9 $59,831.43
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 515,941.62 $525,495.50
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 70,197.79 $69,847.28
STANLEY BLACK & DECKER INC US SWK 62.97 $5,547.32
SRPT 2014-STAR A FLTG RATE 3.86200 11/15/2027 US 572,412.76 $401,083.99
STEEL DYNAMICS INC US STLD 115.89 $9,354.99
SUN COMMUNITIES US SUI 976.08 $150,033.32
SCML 2019-SBC8 2.86000 04/25/2041 US 81,684.42 $75,525.17
SYNCHRONOSS TECH US 6,362.29 $138,188.88
SYNERGY ONE LENDING 5.50000 10/14/2026 US 171,281.03 $147,896.22
TJX COMPANIES INC US TJX 307.39 $19,165.77
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 1,478.61 $123,242.35
TARGET CORP US TGT 109.23 $17,513.24
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,322,551.58 $1,246,494.61
TERRENO REALTY CORP US TRNO 1,234.61 $75,299.13
TEXAS INSTRUMENTS INC US TXN 191.21 $31,590.60
THERMO FISHER SCIENTIFIC INC US TMO 1,204.08 $656,608.35
3M CO US MMM 193.39 $24,048.18
TPMT 2016-5 A1 2.50000 10/25/2056 US 133,113.19 $131,780.32
TPMT 2017-1 A1 2.75000 10/25/2056 US 69,085.6 $68,492.64
TPMT 2019-HY1 A1 3.44371 10/25/2048 US 135,214.69 $133,695.88
TRACTOR SUPPLY COMPANY US TSCO 47.1 $8,720.90
TRAVELLERS COS INC US TRV 101.22 $16,361.72
TAH 2017-SFR2 A 2.92800 01/17/2036 US 306,930.86 $301,910.82
TCF 2021-1A 1.86000 03/20/2046 US 401,350.58 $347,023.98
TYSON FOODS INC -CL A US TSN 164.89 $12,429.51
UDR INC US UDR 3,000.97 $134,653.32
U.S. BANCORP US USB 525.98 $23,990.02
UNILEVER PLC - ADR GB UL 30,154.32 $1,368,704.78
UNION PAC CORP US UNP 180.33 $40,486.87
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 135,804.41 $114,405.02
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 24,837.87 $23,154.44
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 84,236.04 $84,310.44
UNITED PARCEL SERVICE US UPS 3,429.73 $667,116.89
US TREASURY N/B 3.00000 05/15/2047 US 3,582,560.9 $3,270,206.37
TREASURY BOND 2.37500 02/15/2042 US 6,904,467.33 $5,747,969.06
TREASURY BOND 2.25000 11/15/2027 US 4,216,916.28 $4,002,117.10
US TREASURY N/B 3.12500 11/15/2028 US 6,161,036.1 $6,097,019.12
US TREASURY N/B 2.25000 11/15/2025 US 1,416,417.59 $1,364,076.54
US TREASURY N/B 2.00000 11/15/2026 US 3,782,928.83 $3,576,641.00
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 2,999,660.59 $2,966,148.77
US TREASURY N/B 1.37500 11/15/2031 US 2,834,467.29 $2,435,427.44
VF CORP US VFC 157.31 $6,520.50
VENTAS INC US VTR 1,122.16 $53,706.58
VERTEX PHARMACEUTICALS INC US VRTX 2,790.24 $786,177.31
PARAMOUNT GLOBAL CLASS B US PARA 260.71 $6,097.99
VISA INC - CLASS A SHARES US V 7,732.96 $1,536,617.27
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 147,067.67 $141,823.50
VISTRA OPERATIONS 4.87500 05/13/2024 US 515,965.36 $510,068.31
WAL MART STORES US WMT 583.47 $77,339.26
WALGREENS BOOTS ALLIANCE INC US WBA 290.54 $10,186.44
WASTE MANAGEMENT INC US WM 150.85 $25,498.50
WELLTOWER INC. US WELL 1,296.11 $99,346.58
WIN 2015-1 A1 3.50000 01/20/2045 US 32,455.18 $31,257.21
ZOETIS INC US ZTS 1,701.14 $266,280.16
ADMIRAL GROUP PLC GB ADM LN 5,742.35 $141,254.78
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,786.8 $18,238.35
UBISOFT ENTERTAINMENT FR UBI FP 1,786.85 $82,400.57
DANONE FR BN FP 892.62 $46,969.81
AIR LIQUIDE FR AI FP 1,344.54 $168,488.34
BRENNTAG AG DE BNR GR 1,135.08 $74,424.06
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 596,658.28 $27,347.65
KEYWORDS STUDIOS PLC IE KWS LN 913.54 $26,328.75
S4 CAPITAL PLC GB SFOR LN 44,774.74 $68,817.36
HELIOS TOWERS PLC GB HTWS LN 27,906.8 $39,992.39
AVANZA BANK HOLDING AB SE AZA SS 4,311.6 $69,110.84
AMERICAN TANKER INC 7.75000 07/02/2025 US 162,857.43 $157,446.92
SOFTWAREONE HOLDING AG CH SWON SW 5,850.73 $76,920.20
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,289.19 $52,133.72
SEASPAN CORP 6.50000 02/05/2024 MH 98,280.83 $97,540.52
PETROTAL CORP 12.00000 02/16/2024 CA 126,916.5 $129,454.83
FINECOBANK SPA IT FBK IM 13,212.01 $142,852.21
ALLFUNDS GROUP PLC GB ALLFG NA 7,307.23 $57,372.71
AIRSWIFT GLOBAL AS FLT 11.42271 05/12/2025 NO 168,472.07 $168,939.13
ROTORK PLC GB ROR LN 25,188.36 $72,260.56
AUTO TRADER GROUP PLC GB AUTO LN 18,412.01 $139,023.23
CELLNEX TELECOM SA ES CLNX SM 2,081.74 $81,068.78
ASSA ABLOY AB-B SE ASSAB SS 4,077.5 $82,585.52
CLEANAWAY WASTE MANAGEMENT AU CWY AU 53,948.39 $102,464.47
INTERMEDIATE CAPITAL GROUP GB ICP LN 5,143.22 $81,302.81
ADYEN NV NL ADYEN NA 82.34 $127,063.31
BANK OF N.T. BUTTERFIELD&SON BM NTB 1,556.33 $50,767.54
BUNGE LIMITED US BG 82.13 $8,144.81
EATON CORP PLC US ETN 156.54 $21,389.36
JOHNSON CONTROLS INTERNATIONAL US JCI 283.1 $15,327.15
MEDTRONIC INC IE MDT 8,723.47 $766,967.20
ROYALTY PHARMA PLC- CL A US RPRX 232 $9,699.88
STONECO LTD-A BR STNE 5,747.97 $54,490.80
TRANE TECHNOLOGIES IE TT 75.04 $11,561.41
ALCON INC CH ALC 10,821.75 $710,772.71
CHUBB LTD CH CB 138.99 $26,275.86
GARMIN LTD CH GRMN 102.7 $9,087.69
TE CONNECTIVITY LIMITED CH TEL 103.12 $13,014.60
LYONDELLBASELL INDU-CL A US LYB 107.12 $8,890.94
PLAYA HOTELS AND RESORTS US PLYA 3,445.51 $22,602.57
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 69,208.18 $66,553.94

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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