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 30% - 70%.

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

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$17.10

Daily $ Change

$0.02

Daily % Change

0.12%

as of 11/24/2021

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 10/31/2021

YTD

9.94%

1 Year

21.20%

3 Year

15.33%

5 Year

11.50%

10 Year

9.64%

Inception
(01/01/2000)

8.02%

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 0.49%
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 10/31/2021

TREASURY NOTES 15.39%
AMAZON.COM INC 2.34%
ALPHABET INC-CL A 2.28%
META PLATFORMS INC 2.08%
GOVERNMENT AGENCY 1.81%
MICROSOFT CORP 1.72%
TREASURY BONDS 1.60%
SEA LTD - ADR 1.40%
JOHNSON & JOHNSON 1.37%
SBA COMMUNICATIONS CORP 1.33%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Stocks 55.88%
Bonds 42.30%
Cash 1.82%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities 15.56%
Small Capitalization 1.18%
Mid Capitalization 5.65%
Large Capitalization 33.49%
Long Term Fixed Income 15.01%
Intermediate Term Fixed Income 24.95%
Short Term Fixed Income 2.34%
Cash 1.82%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 613,952.41 $623,219.31
008474108 AGNICO EAGLE MINES LTD CA AEM 10,259.45 $544,264.00
008492100 AGREE REALTY CORP US ADC 549.92 $39,077.20
009126202 AIR LIQUIDE-ADR FR AIQUY 28,411.8 $949,522.48
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 262,940.11 $280,667.11
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 51,423.99 $57,998.83
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 512,715.41 $555,673.54
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 400,139.17 $398,247.15
020002101 ALLSTATE CORPORATION US ALL 153.27 $18,955.45
02079K305 ALPHABET INC-CL A US GOOGL 1,119.1 $3,313,561.51
023135106 AMAZON.COM INC US AMZN 1,006.2 $3,393,347.56
0237400 DIAGEO PLC GB DGE LN 14,252.18 $709,069.82
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,603.3 $86,129.26
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,001.44 $121,858.43
03027X100 AMERICAN TOWER REIT INC US AMT 3,522.97 $993,372.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 830,325.89 $912,900.12
032654105 ANALOG DEVICES INC US ADI 156.13 $27,086.48
03784Y200 APPLE HOSPITALITY REIT INC US APLE 4,821.27 $75,742.10
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 42,177.14 $44,344.08
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 290.73 $18,676.27
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 250,383.82 $264,192.29
053015103 AUTOMATIC DATA PROCESSING US ADP 160.97 $36,135.31
053484101 AVALONBAY COMMUNITIES INC US AVB 361.26 $85,503.72
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 788,879.72 $781,174.17
055622104 BP PLC-SPONS ADR GB BP 12,697.67 $365,565.92
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 242,643.74 $276,383.35
05591XAA9 BRSP 2021-FL1 A 1.23038 08/19/2038 US 85,341.16 $85,341.14
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 341,364.65 $345,141.26
067901108 BARRICK GOLD CORP CA GOLD 32,384.47 $594,902.76
084423102 WR BERKLEY CORP US WRB 11,227.44 $893,704.34
086516101 BEST BUY INC US BBY 145.52 $17,787.85
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 17,595.38 $1,394,081.60
09261HAC1 BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 307,128.34 $301,871.07
09261XAB8 BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 280,371.99 $282,960.89
0963318 DECHRA PHARMACEUTICALS PLC GB DPH LN 1,376.52 $96,452.57
099502106 BOOZ ALLEN HAMILTON HOLDINGS US BAH 101.1 $8,781.20
10373QBR0 BP CAP MARKETS AMERICA 3.06000 06/17/2041 US 707,634.83 $713,380.24
105368203 BRANDYWINE REALTY TRUST US BDN 3,344.5 $44,314.60
10638MAA8 BABS 2021-RM2 A 1.75000 10/25/2061 US 200,514.95 $194,544.97
110122108 BRISTOL MYERS SQUIBB CO US BMY 697.61 $40,740.42
11133T103 BROADRIDGE FINANCIAL SOLUTIONS US BR 71.49 $12,754.00
12345678 JONAH ENERGY PARENT LLC US 1,732.18 $108,260.96
125269100 CF INDUSTRIES HOLDINGS INC US CF 156.92 $8,913.03
12530MAA3 SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 281,728.71 $281,783.64
12530MAB1 SORT 2020-1 A2 1.99000 07/15/2060 US 233,871.45 $232,463.69
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 92.76 $8,997.23
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 27,369.43 $27,685.24
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 307,228.18 $324,691.58
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 162,148.21 $174,627.00
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 170,682.32 $180,481.78
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 91,706.29 $91,834.61
133131102 CAMDEN PROPERTY TRUST US CPT 472.85 $77,122.56
13321L108 CAMECO CORP CA CCJ 44,749.04 $1,087,401.71
134429109 CAMPBELL SOUP CO US CPB 199.75 $7,979.94
136375102 CANADIAN NATIONAL RAILWAY CO CA CNI 9,960.72 $1,323,879.19
14174T107 CARETRUST REIT INC US CTRE 1,701.53 $35,306.77
149123101 CATERPILLAR INC US CAT 186.96 $38,141.96
15135UAF6 CENOVUS ENERGY INC 6.75000 11/15/2039 CA 676,548.37 $926,187.66
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 131,254.87 $144,052.21
16119P108 CHARTER COMMUNICATIONS INC-A US CHTR 1,521.93 $1,027,134.97
172062101 CINCINNATI FINANCIAL CORP US CINF 101.32 $12,304.50
17275R102 CISCO SYSTEMS INC US CSCO 1,165.32 $65,222.93
172967424 CITIGROUP INC US C 643.54 $44,507.38
172967KA8 CITIGROUP INCA 4.45000 09/29/2027 US 471,632.89 $529,053.65
180848P56 CLARK CNTY NV 1.51000 11/01/2028 US 174,095.97 $170,427.77
189054109 CLOROX COMPANY US CLX 70.54 $11,499.11
191216100 COCA COLA CO/THE US KO 19,857.91 $1,119,390.50
194162103 COLGATE-PALMOLIVE CO US CL 347.77 $26,496.49
20030N101 COMCAST CORP-CL A US CMCSA 1,181.39 $60,759.02
200340107 COMERICA INC US CMA 100.83 $8,579.97
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,411.93 $67,546.54
205887102 CONAGRA BRAND INC. US CAG 307.09 $9,888.34
20825C104 CONOCOPHILLIPS US COP 11,591.38 $863,441.52
21240E105 CONTROLADORA VUELA CIA DE AV MX VLRS 3,152.86 $57,066.75
217204106 COPART INC US CPRT 5,057.7 $785,410.25
222795502 COUSINS PROPERTIES INC US CUZ 2,586.86 $102,465.71
22534GAA1 CAALT 2020-1A 2.01000 02/15/2029 US 266,398.43 $269,604.75
22535GAB8 CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 166,415.26 $165,191.71
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 414,461.67 $433,473.70
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 57,761.77 $58,265.69
231021106 CUMMINS INC US CMI 76.49 $18,345.60
23802WAG6 COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 90,461.63 $90,449.15
2491914 KIMBERLY CLARK DE MEXICO S.A.B. MX 50,216.51 $79,368.82
253868103 DIGITAL REALTY TRUST INC US DLR 758.91 $119,763.98
256677105 DOLLAR GENERAL CORP US DG 3,249.67 $719,867.26
256746108 DOLLAR TREE STORES INC US DLTR 6,731.89 $725,428.08
25960P109 DOUGLAS EMMETT INC US DEI 1,215.06 $39,708.19
264411505 DUKE RLTY INVTS INC US DRE 2,396.25 $134,765.23
26884L109 EQT CORP US EQT 45,859.85 $913,069.70
277432100 EASTMAN CHEM CO US EMN 89.25 $9,284.44
285512109 ELECTRONIC ARTS US EA 4,504.6 $631,770.06
291011104 EMERSON ELEC CO US EMR 276.71 $26,843.47
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 666,856.58 $868,042.08
29444U700 EQUINIX INC US EQIX 1,270.53 $1,063,524.13
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 1,300.33 $109,891.27
297178105 ESSEX PROPERTY TRUST INC US ESS 317.12 $107,799.86
30212P303 EXPEDIA INC US EXPE 6,912.4 $1,136,467.86
30212PAR6 EXPEDIA GROUP INC 3.25000 02/15/2030 US 292,683.4 $301,014.12
30225T102 EXTRA SPACE STORAGE INC US EXR 493.19 $97,341.53
30231G102 EXXON MOBIL CORP US XOM 8,698.35 $560,782.41
302491303 FMC CORP US FMC 15,543.6 $1,414,622.88
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 139,544.1 $145,125.86
30286XAN9 FREMF 2015-K43 B FLT 3.73157 02/25/2048 US 797,829.51 $850,498.63
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 46,301,086.51 $44,013.81
30303M102 META PLATFORMS INC US FB 9,329.07 $3,018,608.35
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 2,392.78 $2,828.57
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 4,258.46 $4,958.53
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 26,317.4 $31,047.64
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 14,213.39 $16,774.78
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 425.33 $435.73
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 96.87 $97.21
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 80.01 $80.28
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 369.02 $374.50
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 503.61 $510.80
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 179,675.56 $195,670.20
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 142,419.23 $156,310.28
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 15,063.08 $16,275.01
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 107,047.53 $116,028.41
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 109,109.09 $120,228.86
3136AY6W8 FNA 2017-M15 A1 FLT 2.95925 09/25/2027 US 431,151.93 $453,826.12
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 37,118.53 $38,191.19
3137AME78 FHMS K017 X1 FLT 1.45937 12/25/2021 US 1,419,046.5 $109.55
3137AUPF0 FHMS K021 x1 FLT 1.37556 06/25/2022 US 4,381,469.01 $12,852.16
3137B3NB0 FHMS K030 X1 FLT 0.14755 04/25/2023 US 15,562,853.1 $32,831.39
3137B4GZ3 FHMS K032 X1 FLT 0.07332 05/25/2023 US 10,172,168.32 $14,590.96
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 36,376.83 $40,891.35
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 63,735.57 $70,910.25
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 612,756.75 $683,525.94
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 15,388.96 $16,497.09
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 42,592.81 $46,042.65
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 53.35 $53.71
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 14,398.24 $17,016.16
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 18.29 $18.28
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 22,567.99 $24,762.29
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 152,593.51 $167,434.42
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 60,934.11 $64,695.71
31418DU59 FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 760,810.13 $783,034.54
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 7,425.52 $8,775.50
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 10,400.29 $12,290.71
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 1,347.54 $1,404.78
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 20,359.87 $22,694.26
31620R303 FNF GROUP US FNF 204.53 $9,799.16
316773100 FIFTH THIRD BANCORP US FITB 374.39 $16,297.29
34461LAA2 FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 383,679.47 $396,916.25
345370CW8 FORD MOTOR COMPANY 9.00000 04/22/2025 US 124,824.59 $150,101.57
346232AF8 FORESTAR GROUP INC 3.85000 05/15/2026 US 27,305.49 $27,305.22
357081AE8 FREMF 2015-K720 B FLT 3.39040 07/25/2022 US 389,282.34 $395,671.64
36257MAA3 GSMS 2019-70P A 1.09000 10/15/2036 US 350,307.34 $349,643.30
36262LAJ9 GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 77,940.76 $79,383.91
36263CAH2 GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 249,037.79 $252,553.21
36263KAF8 GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 309,716.96 $315,645.25
369550108 GENERAL DYNAMICS CORP US GD 124.55 $25,252.37
36962G4B7 GENERAL ELECTRIC CO 6.87500 01/10/2039 US 304,690.55 $463,462.12
370334104 GENERAL MLS INC US GIS 305.29 $18,866.75
372460105 GENUINE PARTS CO US GPC 90.91 $11,918.62
374297109 GETTY REALTY CORP US GTY 1,461.47 $46,942.46
375558103 GILEAD SCIENCES INC US GILD 474.9 $30,811.25
38217TAA3 GOODG 2020-1A MTGE 2.63000 04/15/2055 US 115,293.58 $115,864.95
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 278,340.06 $284,002.30
384802104 WW GRAINGER INC US GWW 31.07 $14,386.84
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 78,556.46 $1,565,630.24
39531G209 GREENIDGE GEN HLD INC US 2,893.89 $71,768.35
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 304.38 $38,436.97
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 195.63 $39,448.57
4012250 AIRBUS SE FR AIR FP 416.61 $53,443.69
4031976 ADIDAS AG DE ADS GR 242.63 $79,413.80
404119BX6 HCA INC 4.12500 06/15/2029 US 359,301.53 $398,134.86
416515104 HARTFORD FINL SVCS US HIG 202.13 $14,740.99
419792A22 HAWAII ST 2.68200 10/01/2038 US 128,494.15 $128,861.64
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,358.82 $45,370.85
42250P103 HEALTHPEAK PROPERTIES INC US PEAK 1,234.28 $43,829.43
423012301 HEINEKEN NV-SPN ADR NL HEINY 12,755.84 $710,882.80
427866108 HERSHEY CO/THE US HSY 106.19 $18,619.60
42806MAA7 HERTZ 2021-1A A 1.21000 12/26/2025 US 368,748.44 $366,767.05
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 196.12 $28,231.71
437076102 HOME DEPOT INC US HD 258.26 $96,005.21
438516106 HONEYWELL INTERNATIONAL INC US HON 217.67 $47,586.36
443510607 HUBBELL INC US HUBB 39.13 $7,801.22
446150104 HUNTINGTON BANCSHARES US HBAN 631.85 $9,945.37
448579102 HYATT HOTEL US H 8,155.87 $694,880.51
44988FAD2 IIP OPERATING PARTNER 5.50000 05/25/2026 US 140,976.35 $148,764.51
450913AF5 IAMGOLD CORP 5.75000 10/15/2028 CA 44,036.09 $43,265.46
45168D104 IDEXX LABORATORIES INC US IDXX 1,212.99 $808,023.43
4519579 KERRY GROUP PLC-A IE KYGA ID 403.53 $54,158.59
452308109 ILLINOIS TOOL WKS INC US ITW 125.61 $28,622.69
452762AA5 IMPRL 2021-NQM3 1.59500 11/25/2056 US 287,685.37 $286,851.09
45778Q107 INSPERITY INC US NSP 7,251.12 $906,390.21
45781V101 INNOVATIVE INDUSTRIAL PROPER US IIPR 244.64 $64,361.56
458140100 INTEL CORP US INTC 1,054.83 $51,686.74
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 11,745.18 $1,626,236.93
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 296.82 $37,131.61
459506101 INTERNATIONAL FLVRS & FRAGRANCES US IFF 122.89 $18,120.34
46187BAA1 IHSFR 2017-SFR2 A 0.93600 12/17/2036 US 55,363.13 $55,295.86
46187BAB9 IHSFR 2017-SFR2 B 1.23600 12/17/2036 US 46,698.19 $46,735.80
46187W107 INVITATION HOMES INC US INVH 3,919.77 $161,690.51
464288620 ISHARES BROAD USD INVESTMENT 1.43400 US 8,537.83 $514,233.45
465410BX5 ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 89,229.86 $91,808.38
46625H100 JP MORGAN CHASE & CO US JPM 508.5 $86,389.76
46639GAL0 JPMMT 2013-1 1A2 3.00000 03/25/2043 US 44,080.48 $44,479.48
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 40,073.45 $40,533.23
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 127,763.02 $129,660.75
46647PBP0 JPMORGAN CHASE & CO 2.95600 05/13/2031 US 690,752.1 $713,470.53
478160104 JOHNSON & JOHNSON US JNJ 12,172.25 $1,982,616.65
48275RAA5 KREF 2021-FL2 A 1.15588 02/15/2039 US 297,907.92 $297,947.45
49427F108 KILROY REALTY CORP US KRC 950.48 $64,043.43
494368103 KIMBERLY CLARK CORP US KMB 153.9 $19,928.03
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 508,567.11 $716,443.12
500754106 KRAFT HEINZ CO/THE US KHC 544.89 $19,556.10
501044101 KROGER CO US KR 406.86 $16,282.73
502431109 L3HARRIS TECHNOLOGIES INC US LHX 96.98 $22,356.82
5107401 BEIERSDORF AG DE BEI GR 683.19 $72,646.05
512816109 LAMAR ADVERTISING CO-A US LAMR 292.69 $33,132.44
53223X107 LIFE STORAGE INC US LSI 505.69 $67,666.89
539473AE8 LLOYDS BANK PLC 12.00000 12/16/2024 GB 124,397.88 $127,974.32
539830109 LOCKHEED MARTIN CORP US LMT 98.38 $32,692.88
550021109 LULULEMON - ADR CA LULU 149.86 $69,836.96
5654781 ATOS SE FR ATO FP 1,275 $66,520.46
57636Q104 MASTERCARD INC-CLASS A US MA 5,303.79 $1,779,527.38
58278LAC0 MCREIF SUBREIT LLC 5.00000 10/15/2026 US 144,694.26 $144,807.12
5852842 ACCOR SA FR AC FP 2,468.86 $88,351.54
58933Y105 MERCK & CO INC US MRK 738.21 $64,999.21
59022CAJ2 MERRILL LYNCH 6.11000 01/29/2037 US 330,381.97 $446,387.46
594918104 MICROSOFT CORP US MSFT 7,538.67 $2,499,974.60
59522J103 MID-AMERICA APARTMENT COMM US MAA 617.74 $126,149.18
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 22,848.14 $1,387,796.22
615369105 MOODY'S CORPORATION US MCO 3,452.22 $1,395,216.16
620076307 MOTOROLA SOLUTIONS INC US MSI 87.91 $21,852.73
6321954 TRAVELSKY TECHNOLOGY LTD-H CN 696 HK 57,827.99 $108,049.09
63938CAH1 NAVIENT CORP 6.75000 06/25/2025 US 135,399.48 $149,016.61
63938EAC8 NAVSL 2014-1 A3 FLT 0.59925 06/25/2031 US 199,393.01 $196,827.48
64033QAB5 NSLT 2015-2A A2 0.68925 09/25/2047 US 116,412.49 $116,188.69
64110D104 NETAPP INC US NTAP 142.16 $12,695.22
643821AA9 USRE 2021-1 A1 1.91000 10/20/2061 US 350,901.16 $344,539.28
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 109,786.05 $115,612.57
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 173,007.68 $181,233.90
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 345,718.68 $367,581.27
6490995 KEYENCE CORP JP 6861 JP 65.82 $39,732.40
64971XPG7 NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 157,647.57 $160,488.37
65106WAA3 NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 272,936.17 $276,309.18
651639106 NEWMONT GOLDCORP CORP US NEM 12,203.93 $659,012.26
65341D102 NEXPOINT RESIDENTIAL US NXRT 652.27 $46,193.80
655844108 NORFOLK SOUTHN CORP US NSC 2,530.9 $741,681.55
6642321 NIKON CORP JP 7731 JP 53,095.63 $585,419.66
666807102 NORTHROP GRUMMAN CORP US NOC 72.11 $25,760.87
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 138,416.11 $13.84
66987V109 NOVARTIS AG- REG CH NVS 18,014.06 $1,490,843.89
670346105 NUCOR CORP US NUE 179.04 $19,990.24
67066G104 NVIDIA CORP US NVDA 4,095.75 $1,047,161.64
6742340 SHANDONG WEIGAO CN 1066 HK 57,218.73 $97,462.44
681919106 OMNICOM GROUP US OMC 136.56 $9,297.17
6821506 SONY CORP FIRST SECTION JP 6758 JP 1,687.68 $195,427.15
68389X105 ORACLE CORP US ORCL 796.73 $76,437.83
68622V106 ORGANON & CO US OGN 14.42 $530.03
691205AE8 OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 266,962.29 $278,687.86
69144AAA7 OXFIN 2020-1A A2 3.10100 02/15/2028 US 514,422.23 $523,124.66
693456AW5 PMTLT 2013-J1 a9 3.50000 09/25/2043 US 89,441.34 $90,549.03
695156109 PACKAGING CORP OF AMERICA US PKG 65.51 $8,998.83
7021963 DEUTSCHE BOERSE AG DE DB1 GR 852.73 $141,559.49
70450Y103 PAYPAL HOLDINGS INC US PYPL 5,966.38 $1,387,719.81
7123870 NESTLE SA-REGISTERED CH NESN SW 9,658.26 $1,273,993.83
733174AK2 POPULAR INC 6.12500 09/14/2023 PR 135,399.48 $144,567.98
742718109 PROCTER & GAMBLE CO US PG 569.23 $81,393.77
74340W103 PROLOGIS US PLD 2,952.61 $428,009.89
74387VAA7 PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 458,919.35 $465,892.63
74388JAD7 PFMT 2021-2 A2A 2.00000 04/25/2051 US 284,758.41 $285,982.01
74460D109 PUBLIC STORAGE INC US PSA 590.11 $196,024.11
747525103 QUALCOMM INC US QCOM 356.12 $47,378.04
74834L100 QUEST DIAGNOSTICS INC US DGX 86.19 $12,650.68
749685103 RPM INTERNATIONAL INC US RPM 91.25 $7,957.25
750481103 RADIUS GLOBAL INFRASTRUCTURE US RADI 5,359.73 $92,884.16
75134P402 RAMACO RESOURCES INC US 5,804.84 $154,989.19
756109104 REALTY INCOME CORP US O 363.41 $25,958.26
7591EP100 REGIONS FINANCIAL CORP. US RF 565.91 $13,400.80
759509102 RELIANCE STEEL & ALUMINUM US RS 48.34 $7,066.06
760759100 REPUBLIC SERVICES INC US RSG 162.51 $21,873.62
76131D103 RESTAURANT BRANDS INTERN CA QSR 836.11 $47,357.02
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 1,739.15 $116,870.81
7698356 GETINGE AB-B SHS SE GETIB SS 3,490.13 $156,189.87
7792559 HEINEKEN NV NL HEIA NA 690.08 $76,384.10
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 5,310.28 $243,423.15
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 6,264.52 $711,085.39
78403DAP5 SBA TOWER TRUST 1.88400 01/15/2026 US 147,640.21 $149,017.88
78409V104 S&P GLOBAL INC US SPGI 1,163.92 $551,884.59
78410G104 SBA COMMUNICATIONS CORP US SBAC 5,597.08 $1,932,838.53
78449AAA0 SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 252,442.59 $249,988.87
78449UAB4 SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 301,803.1 $307,426.66
78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 413,026.76 $410,579.79
79466L302 SALESFORCE.COM US CRM 5,298.59 $1,587,934.05
81141R100 SEA LTD - ADR SG SE 5,905.1 $2,028,815.32
81181C104 SEAGEN INC US SGEN 8,439.05 $1,488,058.14
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 146,109.28 $146,722.46
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 58,773.47 $59,089.51
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 72,352.55 $72,934.18
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 65,462.39 $65,429.41
81762P102 SERVICENOW INC US NOW 1,207.22 $842,346.60
831865209 SMITH (A.O.) CORP US AOS 118.92 $8,689.30
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 72.77 $8,940.90
833034101 SNAP-ON INC US SNA 37.67 $7,656.20
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 34,162.22 $34,873.61
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 162,309.58 $166,043.07
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 190,489.2 $194,802.03
835699307 SONY CORP SPONSORED ADR JP SONY 12,160.03 $1,408,009.35
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 619,993.3 $633,031.76
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 534,228.84 $598,990.41
85236KAE2 SIDC 2021-1A A2 MTGE 1.87700 03/26/2046 US 300,772.42 $299,229.16
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.56020 11/15/2027 US 509,429.15 $310,751.78
858119100 STEEL DYNAMICS INC US STLD 150.47 $9,943.11
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 44,399.74 $46,508.73
866674104 SUN COMMUNITIES US SUI 843.16 $165,241.75
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 115,825.51 $115,134.49
87105L104 SWITCH INC - A US SWCH 5,775.15 $145,995.75
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 5,624.75 $136,006.37
87168KAA8 SYNERGY ONE LENDING 5.50000 10/14/2026 US 152,130.08 $154,331.40
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 140,976.35 $141,328.79
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 915.86 $104,133.56
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,110,148.74 $1,210,795.13
88146M101 TERRENO REALTY CORP US TRNO 709.37 $51,876.01
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,402.92 $888,147.50
88579Y101 3M CO US MMM 197.41 $35,273.87
89151E109 TOTALENERGIES SE SPON ADR FR TTE 6,744.44 $337,963.80
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 273,631.79 $276,522.03
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 140,191.68 $141,953.14
89177EAA7 TPMT 2019-HY1 A1 1.08925 10/25/2048 US 169,025.46 $169,724.78
89417E109 TRAVELLERS COS INC US TRV 123.84 $19,922.76
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 283,895.46 $287,141.89
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 354,604.55 $352,016.82
89642JAC9 TRNTS 2021-17A B1 FLT 1.81308 10/20/2034 US 468,464.12 $468,625.74
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 397,243.81 $390,879.57
902494103 TYSON FOODS INC -CL A US TSN 197.18 $15,768.65
902653104 UDR INC US UDR 1,806.97 $100,341.21
902973304 U.S. BANCORP US USB 564.75 $34,093.82
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 61,936.82 $646,001.04
904767704 UNILEVER PLC - ADR GB UL 35,886.59 $1,922,803.36
907818108 UNION PAC CORP US UNP 206.51 $49,850.87
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 134,992.89 $133,324.32
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,631.61 $24,133.16
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 74,358.22 $82,184.42
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 1,073,930.77 $1,406,807.36
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,910,048.09 $2,318,843.16
9128284N7 US TREASURY N/B 2.87500 05/15/2028 US 1,966,478.73 $2,147,379.41
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 4,620,077.01 $4,720,960.73
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,738,399.46 $1,818,596.71
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 6,857,887.84 $7,260,788.75
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 3,423,144.89 $3,565,553.06
91282CCB5 US TREASURY N/B 1.62500 05/15/2031 US 1,401,169.98 $1,411,678.76
92276F100 VENTAS INC US VTR 677.52 $36,159.00
92343V104 VERIZON COMMUNICATIONS US VZ 1,089.18 $57,715.50
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 752,798.91 $880,598.82
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 9,131.37 $1,688,664.90
92826C839 VISA INC - CLASS A SHARES US V 8,644.96 $1,830,742.74
93065PAA9 WBHT 2019-WBM A FLT 1.14000 12/15/2033 US 414,302.18 $413,798.22
931142103 WAL MART STORES US WMT 565.68 $84,523.87
94106L109 WASTE MANAGEMENT INC US WM 184.68 $29,590.56
95040Q104 WELLTOWER INC. US WELL 811.27 $65,226.44
963320106 WHIRLPOOL CORP US WHR 42.16 $8,889.55
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 565,315.31 $566,759.65
969904101 WILLIAMS - SONOMA INC US WSM 50.34 $9,350.38
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 42,660.03 $43,221.10
98978V103 ZOETIS INC US ZTS 1,808.92 $391,088.58
B02J639 ADMIRAL GROUP PLC GB ADM LN 3,807.34 $149,560.66
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 4,198.79 $25,393.01
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 1,286.48 $67,364.73
B1Y9TB3 DANONE FR BN FP 1,638.25 $106,790.76
B1YXBJ7 AIR LIQUIDE FR AI FP 795.51 $132,816.11
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 182,541.28 $149,452.57
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,229,359.41 $59,806.17
B4YVF56 BRENNTAG AG DE BNR GR 583.8 $55,541.80
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 515,016.05 $25,404.34
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 654.41 $25,398.99
BFZZM64 S4 CAPITAL PLC GB SFOR LN 7,405.98 $73,550.05
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 19,146.25 $27,887.66
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 17,906.83 $25,256.23
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 1,763.24 $70,098.71
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 144,694.26 $148,203.09
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 3,503 $81,171.26
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 2,926.86 $58,449.43
BN6725160 SEASPAN CORP 6.50000 02/05/2024 MH 91,426.45 $96,454.90
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 140,976.35 $148,025.17
BNGN9Z1 FINECOBANK SPA IT FBK IM 10,068.94 $192,294.51
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 117,667.95 $122,668.84
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 148,716.43 $149,460.02
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 91,426.45 $96,855.35
BR8705906 TIDEWATER INC 8.50000 11/16/2026 US 148,716.43 $148,595.97
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 13,244.35 $109,801.42
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 2,255.58 $66,184.63
BYQ8KW7 CLEANAWAY WASTE MANAGEMENT AU CWY AU 42,528.13 $86,491.91
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 3,257.24 $97,700.69
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 720.14 $44,049.20
BZ1HM42 ADYEN NV NL ADYEN NA 26.37 $79,574.56
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,457.46 $52,322.75
G16962105 BUNGE LIMITED US BG 102.61 $9,505.57
G29183103 EATON CORP PLC US ETN 182.68 $30,098.73
G3223R108 EVEREST RE GROUP LTD BM RE 29.21 $7,637.57
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 389.07 $28,545.91
G5494J103 LINDE PLC GB LIN 160.11 $51,106.12
G5960L103 MEDTRONIC INC IE MDT 6,639.89 $795,857.74
G85158106 STONECO LTD-A BR STNE 2,229.03 $75,474.86
H01301128 ALCON INC CH ALC 21,061.51 $1,755,687.22
H1467J104 CHUBB LTD CH CB 175.18 $34,226.60
H2906T109 GARMIN LTD CH GRMN 107.67 $15,461.77
USD US DOLLAR US 2,694,838.87 $2,694,838.87
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 55,768.66 $58,278.25
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 71,755.68 $73,370.18

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 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

$17.10

Daily $ Change

$0.02

Daily % Change

0.12%

as of 11/24/2021

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 30% - 70%.

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

May be Appropriate for Investors

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

About Target Date Funds

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

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 10/31/2021

YTD

9.94%

1 Year

21.20%

3 Year

15.33%

5 Year

11.50%

10 Year

9.64%

Inception
(01/01/2000)

8.02%

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 0.49%
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 10/31/2021

TREASURY NOTES 15.39%
AMAZON.COM INC 2.34%
ALPHABET INC-CL A 2.28%
META PLATFORMS INC 2.08%
GOVERNMENT AGENCY 1.81%
MICROSOFT CORP 1.72%
TREASURY BONDS 1.60%
SEA LTD - ADR 1.40%
JOHNSON & JOHNSON 1.37%
SBA COMMUNICATIONS CORP 1.33%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2021

Stocks
55.88%
Bonds
42.30%
Cash
1.82%

Detailed Asset Class Allocation

As of 10/31/2021

International Equities
15.56%
Small Capitalization
1.18%
Mid Capitalization
5.65%
Large Capitalization
33.49%
Long Term Fixed Income
15.01%
Intermediate Term Fixed Income
24.95%
Short Term Fixed Income
2.34%
Cash
1.82%

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

October Fund Holdings

As of 10/31/2021

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00774MAW5 AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 613,952.41 $623,219.31
008474108 AGNICO EAGLE MINES LTD CA AEM 10,259.45 $544,264.00
008492100 AGREE REALTY CORP US ADC 549.92 $39,077.20
009126202 AIR LIQUIDE-ADR FR AIQUY 28,411.8 $949,522.48
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 262,940.11 $280,667.11
01166WAA5 ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 51,423.99 $57,998.83
01609WAU6 ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 512,715.41 $555,673.54
01627AAA6 ADC 2021-1A A2 1.93700 08/15/2046 US 400,139.17 $398,247.15
020002101 ALLSTATE CORPORATION US ALL 153.27 $18,955.45
02079K305 ALPHABET INC-CL A US GOOGL 1,119.1 $3,313,561.51
023135106 AMAZON.COM INC US AMZN 1,006.2 $3,393,347.56
0237400 DIAGEO PLC GB DGE LN 14,252.18 $709,069.82
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,603.3 $86,129.26
02665T306 AMERICAN HOMES 4 RENT- A US AMH 3,001.44 $121,858.43
03027X100 AMERICAN TOWER REIT INC US AMT 3,522.97 $993,372.50
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 830,325.89 $912,900.12
032654105 ANALOG DEVICES INC US ADI 156.13 $27,086.48
03784Y200 APPLE HOSPITALITY REIT INC US APLE 4,821.27 $75,742.10
038923AS7 ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 42,177.14 $44,344.08
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 290.73 $18,676.27
045054AJ2 ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 250,383.82 $264,192.29
053015103 AUTOMATIC DATA PROCESSING US ADP 160.97 $36,135.31
053484101 AVALONBAY COMMUNITIES INC US AVB 361.26 $85,503.72
05401AAP6 AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 788,879.72 $781,174.17
055622104 BP PLC-SPONS ADR GB BP 12,697.67 $365,565.92
05567SAA0 BNSF FUNDING TRUST I 6.61300 12/15/2055 US 242,643.74 $276,383.35
05591XAA9 BRSP 2021-FL1 A 1.23038 08/19/2038 US 85,341.16 $85,341.14
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78449XAA0 SMB 2020-BA A1A 1.29000 07/15/2053 US 413,026.76 $410,579.79
79466L302 SALESFORCE.COM US CRM 5,298.59 $1,587,934.05
81141R100 SEA LTD - ADR SG SE 5,905.1 $2,028,815.32
81181C104 SEAGEN INC US SGEN 8,439.05 $1,488,058.14
81745BAB1 SEMT 2013-6 A2 3.00000 05/25/2043 US 146,109.28 $146,722.46
81745CAB9 SEMT 2013-7 A2 3.00000 06/25/2043 US 58,773.47 $59,089.51
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 72,352.55 $72,934.18
81745MAA9 SEMT 2013-2 1.87400 02/25/2043 US 65,462.39 $65,429.41
81762P102 SERVICENOW INC US NOW 1,207.22 $842,346.60
831865209 SMITH (A.O.) CORP US AOS 118.92 $8,689.30
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 72.77 $8,940.90
833034101 SNAP-ON INC US SNA 37.67 $7,656.20
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 34,162.22 $34,873.61
83404RAB4 SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 162,309.58 $166,043.07
83406TAB8 SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 190,489.2 $194,802.03
835699307 SONY CORP SPONSORED ADR JP SONY 12,160.03 $1,408,009.35
837151XH7 SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 619,993.3 $633,031.76
844741BJ6 SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 534,228.84 $598,990.41
85236KAE2 SIDC 2021-1A A2 MTGE 1.87700 03/26/2046 US 300,772.42 $299,229.16
85571XAA5 SRPT 2014-STAR A FLTG RATE 1.56020 11/15/2027 US 509,429.15 $310,751.78
858119100 STEEL DYNAMICS INC US STLD 150.47 $9,943.11
861036AA9 STL HOLDING CO LLC 7.50000 02/15/2026 US 44,399.74 $46,508.73
866674104 SUN COMMUNITIES US SUI 843.16 $165,241.75
86935CAA0 SCML 2019-SBC8 2.86000 04/25/2041 US 115,825.51 $115,134.49
87105L104 SWITCH INC - A US SWCH 5,775.15 $145,995.75
87157B301 SYNCHRONOSS TECH 8.37500 06/30/2026 US 5,624.75 $136,006.37
87168KAA8 SYNERGY ONE LENDING 5.50000 10/14/2026 US 152,130.08 $154,331.40
87356LAA8 TACORA RESOURCES INC 8.25000 05/15/2026 CA 140,976.35 $141,328.79
874039100 TAIWAN SEMICONDUCTOR - SP ADR TW TSM 915.86 $104,133.56
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,110,148.74 $1,210,795.13
88146M101 TERRENO REALTY CORP US TRNO 709.37 $51,876.01
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,402.92 $888,147.50
88579Y101 3M CO US MMM 197.41 $35,273.87
89151E109 TOTALENERGIES SE SPON ADR FR TTE 6,744.44 $337,963.80
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 273,631.79 $276,522.03
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 140,191.68 $141,953.14
89177EAA7 TPMT 2019-HY1 A1 1.08925 10/25/2048 US 169,025.46 $169,724.78
89417E109 TRAVELLERS COS INC US TRV 123.84 $19,922.76
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 283,895.46 $287,141.89
89613GAA4 TAH 2020-SFR1 A 1.49900 07/17/2038 US 354,604.55 $352,016.82
89642JAC9 TRNTS 2021-17A B1 FLT 1.81308 10/20/2034 US 468,464.12 $468,625.74
89680HAE2 TCF 2021-1A 1.86000 03/20/2046 US 397,243.81 $390,879.57
902494103 TYSON FOODS INC -CL A US TSN 197.18 $15,768.65
902653104 UDR INC US UDR 1,806.97 $100,341.21
902973304 U.S. BANCORP US USB 564.75 $34,093.82
90348R102 UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 61,936.82 $646,001.04
904767704 UNILEVER PLC - ADR GB UL 35,886.59 $1,922,803.36
907818108 UNION PAC CORP US UNP 206.51 $49,850.87
90932KAA7 UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 134,992.89 $133,324.32
90932NAA1 UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 23,631.61 $24,133.16
91086QBG2 UNITED MEXICAN STATES 4.12500 01/21/2026 MX 74,358.22 $82,184.42
912810QK7 US TREASURY N/BB 3.87500 08/15/2040 US 1,073,930.77 $1,406,807.36
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 1,910,048.09 $2,318,843.16
9128284N7 US TREASURY N/B 2.87500 05/15/2028 US 1,966,478.73 $2,147,379.41
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 4,620,077.01 $4,720,960.73
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 1,738,399.46 $1,818,596.71
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 6,857,887.84 $7,260,788.75
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 3,423,144.89 $3,565,553.06
91282CCB5 US TREASURY N/B 1.62500 05/15/2031 US 1,401,169.98 $1,411,678.76
92276F100 VENTAS INC US VTR 677.52 $36,159.00
92343V104 VERIZON COMMUNICATIONS US VZ 1,089.18 $57,715.50
92343VCV4 VERIZON COMMUNICATIONS 4.27200 01/15/2036 US 752,798.91 $880,598.82
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 9,131.37 $1,688,664.90
92826C839 VISA INC - CLASS A SHARES US V 8,644.96 $1,830,742.74
93065PAA9 WBHT 2019-WBM A FLT 1.14000 12/15/2033 US 414,302.18 $413,798.22
931142103 WAL MART STORES US WMT 565.68 $84,523.87
94106L109 WASTE MANAGEMENT INC US WM 184.68 $29,590.56
95040Q104 WELLTOWER INC. US WELL 811.27 $65,226.44
963320106 WHIRLPOOL CORP US WHR 42.16 $8,889.55
969457BY5 WILLIAMS COMPANIES INC 2.60000 03/15/2031 US 565,315.31 $566,759.65
969904101 WILLIAMS - SONOMA INC US WSM 50.34 $9,350.38
97652TAA1 WIN 2015-1 A1 3.50000 01/20/2045 US 42,660.03 $43,221.10
98978V103 ZOETIS INC US ZTS 1,808.92 $391,088.58
B02J639 ADMIRAL GROUP PLC GB ADM LN 3,807.34 $149,560.66
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 4,198.79 $25,393.01
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 1,286.48 $67,364.73
B1Y9TB3 DANONE FR BN FP 1,638.25 $106,790.76
B1YXBJ7 AIR LIQUIDE FR AI FP 795.51 $132,816.11
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 182,541.28 $149,452.57
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,229,359.41 $59,806.17
B4YVF56 BRENNTAG AG DE BNR GR 583.8 $55,541.80
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 515,016.05 $25,404.34
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 654.41 $25,398.99
BFZZM64 S4 CAPITAL PLC GB SFOR LN 7,405.98 $73,550.05
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 19,146.25 $27,887.66
BJ9JY53 JINXIN FERTILITY GROUP CN 1951 HK 17,906.83 $25,256.23
BJXMLF7 AVANZA BANK HOLDING AB SE AZA SS 1,763.24 $70,098.71
BK0939417 AMERICAN TANKER INC 7.75000 07/02/2025 US 144,694.26 $148,203.09
BKWD4B5 SOFTWAREONE HOLDING AG CH SWON SW 3,503 $81,171.26
BMXKJ81 FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 2,926.86 $58,449.43
BN6725160 SEASPAN CORP 6.50000 02/05/2024 MH 91,426.45 $96,454.90
BN7860420 PETROTAL CORP 12.00000 02/16/2024 CA 140,976.35 $148,025.17
BNGN9Z1 FINECOBANK SPA IT FBK IM 10,068.94 $192,294.51
BO8204600 COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 117,667.95 $122,668.84
BP3061408 AIRSWIFT GLOBAL AS FLT 8.62275 05/12/2025 NO 148,716.43 $149,460.02
BQ0584657 JERVOIS MINING LTD 12.50000 07/20/2026 AU 91,426.45 $96,855.35
BR8705906 TIDEWATER INC 8.50000 11/16/2026 US 148,716.43 $148,595.97
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 13,244.35 $109,801.42
BYPC1T4 ASSA ABLOY AB-B SE ASSAB SS 2,255.58 $66,184.63
BYQ8KW7 CLEANAWAY WASTE MANAGEMENT AU CWY AU 42,528.13 $86,491.91
BYT1DJ1 INTERMEDIATE CAPITAL GROUP GB ICP LN 3,257.24 $97,700.69
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 720.14 $44,049.20
BZ1HM42 ADYEN NV NL ADYEN NA 26.37 $79,574.56
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 1,457.46 $52,322.75
G16962105 BUNGE LIMITED US BG 102.61 $9,505.57
G29183103 EATON CORP PLC US ETN 182.68 $30,098.73
G3223R108 EVEREST RE GROUP LTD BM RE 29.21 $7,637.57
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 389.07 $28,545.91
G5494J103 LINDE PLC GB LIN 160.11 $51,106.12
G5960L103 MEDTRONIC INC IE MDT 6,639.89 $795,857.74
G85158106 STONECO LTD-A BR STNE 2,229.03 $75,474.86
H01301128 ALCON INC CH ALC 21,061.51 $1,755,687.22
H1467J104 CHUBB LTD CH CB 175.18 $34,226.60
H2906T109 GARMIN LTD CH GRMN 107.67 $15,461.77
USD US DOLLAR US 2,694,838.87 $2,694,838.87
ZO1818103 NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 55,768.66 $58,278.25
ZO4110185 BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 71,755.68 $73,370.18

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 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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