Collective Investment Trusts

Retirement Target 2030 CIT

Investment Objective

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

Investment Strategy

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

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

May be Appropriate for Investors

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

About Target Date Funds

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

Learn more about our Glide Range SM

Daily Price

$16.52

Daily $ Change

$0.11

Daily % Change

0.67%

as of 04/23/2024

CUSIP

56382R845

Inception Date

04/17/2015

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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

Performance

As of 03/31/2024

YTD

2.31%

1 Year

9.51%

3 Year

1.76%

5 Year

7.09%

10 Year

5.85%

Inception
(04/17/2015)

7.10%

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

Performance through the inception date of the Retirement Target CIT Class 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.

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 03/31/2024

TREASURY NOTES 12.24%
GOVERNMENT AGENCY 10.47%
TREASURY BONDS 6.54%
ISHARES BROAD USD HIGH YIELD 2.43400 3.40%
AMAZON.COM INC 2.79%
MASTERCARD INC-CLASS A 1.89%
ALPHABET INC-CL A 1.87%
TAIWAN SEMICONDUCTOR - SP ADR 1.72%
MICRON TECHNOLOGY INC 1.62%
TSY INFL IX N/B 0.12500 01/15/2031 1.52%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Bonds
54.14%
Stocks
43.42%
Cash
2.44%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
12.85%
Small Capitalization
0.26%
Mid Capitalization
2.50%
Large Capitalization
27.81%
Long Term Fixed Income
13.54%
Intermediate Term Fixed Income
35.49%
Short Term Fixed Income
5.11%
Cash
2.44%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 4,798.26 $171,958.80
ADMIRAL GROUP PLC ADR GB AMIGY 17,752.99 $635,557.02
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 448,065.85 $405,886.70
AGREE REALTY CORP US ADC 1,633.38 $93,298.60
AIR LIQUIDE FR AI FP 590.72 $122,899.38
AIRBUS SE FR AIR FP 802.95 $147,926.55
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 26,427.84 $26,903.56
ALCON INC CH ALC SW 165.23 $13,666.11
ALCON INC CH ALC 9,662.63 $804,800.76
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 236,214.31 $196,372.73
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 920,008.79 $799,249.21
ALPHABET INC-CL A US GOOGL 17,207.64 $2,597,149.57
AMAZON.COM INC US AMZN 21,495.44 $3,877,347.15
AMAZON.COM INC 3.30000 04/13/2027 US 158,867.43 $152,837.52
AMERICAN HOMES 4 RENT- A US AMH 2,639.47 $97,079.71
AMERICAN TOWER REIT INC US AMT 602.28 $119,004.63
AMERICOLD REALTY TRUST US COLD 2,096.34 $52,240.87
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 430,461.07 $404,792.71
ASTRAZENECA GB AZN 22,610.23 $1,531,843.32
ATLASSIAN CORP PLC-CLASS A AU TEAM 362.54 $70,735.11
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 17,317.24 $86,390.64
AUTO TRADER GROUP PLC GB AUTO LN 10,589.42 $93,514.24
AVALONBAY COMMUNITIES INC US AVB 679.02 $125,999.32
AVANZA BANK HOLDING AB SE AZA SS 2,193.39 $47,282.90
BABS 2021-RM2 A 1.75000 10/25/2061 US 163,717.02 $145,785.19
BAE SYSTEMS PLC GB BA/ LN 6,239.65 $106,357.51
BAE SYSTEMS PLC -SPON ADR GB BAESY 9,110.27 $631,796.99
BANK OF AMERICA CORP 2.68700 04/22/2032 US 662,586.62 $560,528.33
BEIERSDORF AG DE BEI GR 888.75 $129,398.93
BIOMARIN PHARMACEUTICAL INC US BMRN 10,518.44 $918,680.63
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 319,069.48 $316,851.81
BORR IHC LTD 10.00000 11/15/2028 MUL 129,208.6 $134,913.72
BRENNTAG AG DE BNR GR 674.26 $56,827.32
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 140,402.62 $98,912.74
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 260,251.37 $255,524.42
CANADIAN NATIONAL RAILWAY CO CA CNI 8,928.3 $1,175,946.67
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 817,450.18 $824,319.83
CELLNEX TELECOM SA ES CLNX SM 3,244.36 $114,768.13
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,272.41 $57,659.86
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 519,989.35 $574,151.94
CIM 2019-INV1 A1 4.00000 02/25/2049 US 9,443.39 $8,981.07
CITIGROUP INC 1.46200 06/09/2027 US 664,006.14 $610,067.36
CLARK CNTY NV 1.51000 11/01/2028 US 272,262.97 $234,596.37
CLEANAWAY WASTE MANAGEMENT AU CWY AU 58,213.14 $103,146.24
COCA COLA CO/THE US KO 31,355.01 $1,918,299.48
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 141,469.98 $126,867.09
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 414,275.82 $394,237.21
COLT 2024-INV1 A1 5.90300 12/25/2068 US 368,011.96 $366,329.28
CONSTELLATION BRANDS INC-A US STZ 3,636.6 $988,283.49
COPART INC US CPRT 17,859.8 $1,034,439.58
CROWN CASTLE INTL CORP US CCI 521.71 $55,212.21
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 76,112.97 $65,691.85
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 42,949.07 $35,764.13
CSX CORP US CSX 25,787.58 $955,945.49
DEUTSCHE BOERSE AG DE DB1 GR 906.06 $185,552.18
DEUTSCHE BOERSE AG ADR DE DBOEY 46,049.85 $940,798.52
DIAGEO PLC GB DGE LN 1,338.91 $49,542.79
DIGITAL REALTY TRUST INC US DLR 405.24 $58,371.46
DIGITALBRIDGE GROUP INC US DBRG 2,771.8 $53,412.62
DOLLARAMA INC CA DOL CN 1,024.97 $78,082.78
ELECTRONIC ARTS US EA 12,152.36 $1,612,253.93
ENERGY TRANSFER LP 7.37500 02/01/2031 US 376,724.76 $394,880.66
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 561,374.48 $596,577.92
EQUINIX INC US EQIX 588.8 $485,958.18
EQUITY COMMONWEALTH US EQC 2,547.56 $48,098.01
EQUITY LIFESTYLE PROPERTIES US ELS 1,711.87 $110,244.18
EQUITY RESIDENTIAL US EQR 1,067.79 $67,388.17
EVERGY INC US EVRG 18,425.15 $983,534.67
EXPERIAN PLC IE EXPN LN 2,289.03 $99,739.87
EXTRA SPACE STORAGE INC US EXR 757.11 $111,295.00
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 584,425.53 $565,061.69
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 15,467.16 $16,160.33
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 7,504.67 $7,840.99
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,024.29 $8,384.06
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 52.24 $51.95
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 21,291.93 $20,892.40
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 25,700.77 $25,189.84
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 65,244.74 $63,947.67
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 412,902.27 $425,689.63
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 18,103.84 $16,540.55
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 50,123.26 $47,366.47
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 220,987.88 $198,869.22
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 924,881.91 $857,174.01
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 541,688.26 $493,745.70
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 40,909.61 $38,541.92
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 572,754.13 $542,167.95
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 22,206.95 $21,888.15
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 76,829.34 $75,727.97
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 619,691.03 $555,778.61
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 602,118.25 $558,038.93
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 558,840.22 $567,470.11
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 575,408.79 $502,381.22
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 765,387.81 $747,730.82
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 594,124.53 $520,246.78
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 116,414.67 $113,128.84
FHLM POOL C91780 4.50000 07/01/2034 US 81,346.51 $80,278.16
FHLM POOL G03332 6.00000 10/01/2037 US 2,341.8 $2,449.88
FHLM POOL G05900 6.00000 03/01/2040 US 5,134.22 $5,371.19
FHLM POOL G05906 6.00000 04/01/2040 US 14,323.75 $14,984.85
FHLM POOL G06995 6.00000 05/01/2040 US 14,947.04 $15,636.90
FHLM POOL G60034 4.50000 02/01/2045 US 115,632.91 $113,137.83
FHLM POOL K91364 4.50000 11/01/2033 US 10,374.79 $10,240.52
FHLM POOL K92059 4.50000 09/01/2034 US 56,874.23 $56,153.41
FHLM POOL SD8230 4.50000 06/01/2052 US 447,095.57 $426,924.80
FHR 5189 CP 2.50000 06/25/2049 US 193,711.87 $165,250.10
FINECOBANK SPA IT FBK IM 3,510.16 $52,570.93
FIRST INDUSTRIAL REALTY TR US FR 712.38 $37,428.25
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,421.21 $58,913.21
FLX 2021-1A A2 3.25000 11/27/2051 US 546,281.01 $495,096.16
FN DS2696 3.00000 12/01/2051 US 689,626.91 $601,221.22
FN FS4339 MTGE 3.00000 12/01/2050 US 862,767.86 $755,506.01
FN FS4925 MTGE 3.50000 04/01/2052 US 416,318.92 $377,356.16
FN MA4020 MTGE 3.00000 05/01/2050 US 435,578.76 $379,740.39
FN MA4733 4.50000 09/01/2052 US 682,373.4 $651,016.17
FN MA4807 MTGE 5.50000 11/01/2052 US 480,020.38 $478,517.15
FN MA4868 MTGE 5.00000 01/01/2053 US 882,388.46 $862,032.34
FN MA4934 MTGE 5.00000 02/01/2043 US 889,762.93 $882,524.31
FNR 2018-31 KP 3.50000 07/25/2047 US 6,402.49 $6,229.47
FR QG6308 MTG 6.00000 07/01/2053 US 1,090,201.76 $1,104,480.27
FR SD1129 4.00000 08/01/2051 US 358,223.34 $336,681.65
FR SD1360 MTGE 5.50000 07/01/2052 US 383,029.95 $382,151.01
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 578,369.12 $568,913.14
GLOBANT SA LU GLOB 414.8 $83,748.00
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 61,140.66 $55,364.75
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 79,561.05 $66,972.44
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 120,605.51 $99,214.71
GOODMAN GROUP AU GMG AU 2,440.72 $53,762.43
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 278,193.96 $240,139.25
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 95,887.23 $84,424.84
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 223,573.72 $192,683.15
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 151,669.34 $130,240.41
HALMA PLC GB HLMA LN 5,097.15 $152,202.89
HAWAII ST 2.68200 10/01/2038 US 183,692.21 $142,390.64
HDFC BANK LTD-ADR IN HDB 25,482.37 $1,426,248.03
HEINEKEN NV NL HEIA NA 1,718.89 $165,714.33
HEINEKEN NV-SPN ADR NL HEINY 29,808.13 $1,440,626.78
HELIOS TOWERS PLC GB HTWS LN 34,305.34 $40,866.93
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 373,694.28 $365,925.81
HUMANA INC US HUM 1,739.8 $603,224.56
HWIRE 2021-1 A2 2.31100 11/20/2051 US 297,446.98 $269,001.20
IMCD NV NL IMCD NA 898.56 $158,155.08
IMPRL 2021-NQM3 1.59500 11/25/2056 US 254,896.97 $211,588.08
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 131,920.3 $136,807.90
INTERCONTINENTALEXCHANGE INC US ICE 6,867.62 $943,816.80
INTERMEDIATE CAPITAL GROUP GB ICP LN 4,010 $103,864.83
INTUITIVE SURGICAL INC US ISRG 1,810.2 $722,432.46
INVITATION HOMES INC US INVH 4,652.03 $165,658.93
ISHARES BROAD USD HIGH YIELD 2.43400 US 129,099.81 $4,723,762.00
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 98,130.27 $96,432.33
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 56,987,973.99 $375,993.44
JOHNSON & JOHNSON US JNJ 11,575.05 $1,831,056.65
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 59,012.04 $56,558.62
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 951,785.04 $920,540.01
KEYENCE CORP JP 6861 JP 245.33 $113,895.12
KEYWORDS STUDIOS PLC IE KWS LN 3,803.75 $62,507.82
L'OREAL FR OR FP 52.96 $25,080.83
L3HARRIS TECHNOLOGIES INC US LHX 9,052.15 $1,929,013.81
LEXINGTON REALTY TRUST US LXP 11,524.76 $103,953.29
LONZA GROUP AG -REG CH LONN SW 236 $141,035.67
LONZA GROUP AG ADR CH LZAGY 2,999.04 $179,672.33
MARRIOTT VACATIONS WORLD US VAC 454.57 $48,970.65
MASCO CORP US MAS 9,052.02 $714,023.30
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 195,496.49 $194,513.20
MASTERCARD INC-CLASS A US MA 5,451.12 $2,625,096.31
MEDTRONIC INC IE MDT 8,696.75 $757,921.65
MERCADOLIBRE INC BR MELI 81.91 $123,842.65
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 195,496.49 $194,085.98
META PLATFORMS INC US META 3,515.94 $1,707,268.46
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 546,583.04 $30,303.64
MICRON TECHNOLOGY INC US MU 19,109.01 $2,252,760.67
MICROSOFT CORP US MSFT 2,735.93 $1,151,061.31
MID-AMERICA APARTMENT COMM US MAA 294.06 $38,693.00
MONARCH CASINO & RESORT INC US MCRI 833.29 $62,488.38
MONDELEZ INTERNATIONAL INC US MDLZ 8,658.24 $606,076.65
MOODY'S CORPORATION US MCO 3,138 $1,233,329.22
NAVIENT CORP 6.75000 06/25/2025 US 150,489.51 $151,449.43
NESTLE S.A. - ADR CH NSRGY 13,130.14 $1,394,421.32
NESTLE SA-REGISTERED CH NESN SW 1,380.73 $146,702.23
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 140,055.37 $139,574.39
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 195,496.49 $193,457.74
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 370,845.81 $350,893.58
NORTHROP GRUMMAN CORP US NOC 1,994.88 $954,866.85
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 152,618.78 $1.53
NOVARTIS AG- REG CH NVS 7,546.63 $729,985.30
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 355,698.54 $376,071.41
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 75,470.85 $70,410.79
NRZT 2015-2A A1 3.75000 08/25/2055 US 111,732.83 $103,804.17
NRZT 2016-4A A1 3.75000 11/25/2056 US 219,948.79 $204,207.07
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 119,109.12 $108,015.26
OASIS 2023-1A 7.00000 02/15/2035 US 174,626.7 $174,298.05
OBX 2022-INV1 A1 3.00000 12/25/2051 US 157,264.53 $131,937.67
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 163,550.44 $162,736.95
OXFIN 2020-1A A2 3.10100 02/15/2028 US 112,407.42 $109,190.96
OXFIN 2022-1A 3.60200 02/15/2030 US 488,533.8 $466,730.93
OXFIN 2023-1A A2 6.71600 02/15/2031 US 621,783.91 $626,630.34
OXFINF 2024-A A2 6.67500 01/14/2032 US 60,451.87 $60,083.15
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 745,441.79 $781,833.86
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 296,708.44 $286,617.74
PEAR 2023-1A 7.42000 07/15/2035 US 305,641.84 $308,911.41
PELORUS FUND REIT 7.00000 09/30/2026 US 99,604.07 $97,669.27
PEPSICO INC 3.90000 07/18/2032 US 804,443.53 $762,330.08
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 452,108.57 $366,461.49
PFMT 2021-2 A2A 2.00000 04/25/2051 US 264,641.11 $221,677.77
PHILIP MORRIS INTERNATIONAL US PM 17,624.35 $1,614,743.19
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 69,961.69 $63,468.72
PROLOGIS US PLD 3,383.92 $440,654.18
PUBLIC STORAGE INC US PSA 591.93 $171,693.84
QUALCOMM INC 4.25000 05/20/2032 US 817,280.39 $788,726.65
RCKT 2021-6 A1 2.50000 12/25/2051 US 526,356.82 $422,168.05
REALTY INCOME CORP US O 1,518.21 $82,135.12
REXFORD INDUSTRIAL REALITY IN US REXR 2,585.17 $130,034.16
S&P GLOBAL INC US SPGI 2,078.18 $884,160.28
SBA COMMUNICATIONS CORP US SBAC 809.26 $175,367.28
SBA TOWER TRUST 1.88400 01/15/2026 US 230,889.68 $215,567.70
SBA TOWER TRUST 6.59900 01/15/2028 US 554,956.05 $568,787.78
SCML 2019-SBC8 2.86000 04/25/2041 US 121,183.62 $112,528.08
SEMT 2013-2 1.87400 02/25/2043 US 42,783.57 $36,129.95
SEMT 2013-6 A2 3.00000 05/25/2043 US 102,857.97 $90,814.59
SEMT 2013-7 A2 3.00000 06/25/2043 US 44,240.48 $38,664.28
SEMT 2013-8 A1 3.00000 06/25/2043 US 53,453.45 $47,409.99
SERVICENOW INC US NOW 877.31 $668,864.71
SIMON PROPERTY 2.25000 01/15/2032 US 332,670.38 $272,300.24
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,012,861.78 $854,276.16
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 368,589.69 $368,022.06
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 205,263.2 $179,273.86
SLMA 2008-3 A3 6.62250 10/25/2021 US 634,324.5 $629,583.23
SLMA 2008-4 A4 7.27250 07/25/2022 US 624,919.82 $631,330.27
SMB 2020-BA A1A 1.29000 07/15/2053 US 240,354.98 $219,227.68
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 46,971.8 $45,937.09
SONY CORP FIRST SECTION JP 6758 JP 1,431.07 $122,714.99
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 308,835.12 $288,749.22
SORT 2020-1 A2 1.99000 07/15/2060 US 253,164.85 $217,704.05
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 635,691.76 $562,760.98
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 518,137.11 $367,874.19
SUN COMMUNITIES US SUI 1,305.97 $167,921.76
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 17,511.28 $2,382,409.90
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 11,786.43 $160,152.44
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 9,922.35 $674,570.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,648,100.48 $1,566,568.27
TENCENT HOLDINGS LTD CN 700 HK 3,434.56 $133,775.89
TERRENO REALTY CORP US TRNO 1,716.36 $113,966.56
THERMO FISHER SCIENTIFIC INC US TMO 1,084.97 $630,595.90
TPMT 2016-5 A1 2.50000 10/25/2056 US 6,787.95 $6,759.42
TPMT 2017-1 A1 2.75000 10/25/2056 US 1,660.02 $1,653.00
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 83,662.75 $84,888.15
TREASURY BOND 2.37500 02/15/2042 US 8,915,158.85 $6,641,793.35
TREASURY NOTE 2.25000 11/15/2027 US 1,786,659.04 $1,662,709.57
TSY INFL IX N/B 0.12500 01/15/2031 US 2,362,557.2 $2,105,392.31
TSY INFL IX N/B 2.37500 01/15/2027 US 752,152.04 $758,489.73
UDR INC US UDR 1,085.2 $40,597.28
UNION PAC CORP US UNP 2,736.94 $673,094.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 17,673.93 $16,933.86
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 105,984.3 $97,908.04
UNITEDHEALTH GROUP INC US UNH 1,261.93 $624,276.22
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 102,219.03 $87,056.82
US DOLLAR US 3,476,990.13 $3,476,990.13
US TEASURY NOTE 1.75000 11/15/2029 US 2,234,024.48 $1,968,210.48
US TREASURY N/B 0.87500 11/15/2030 US 2,922,348.03 $2,368,015.14
US TREASURY N/B 2.25000 11/15/2025 US 4,177,835.73 $4,013,986.23
US TREASURY N/B 3.62500 02/15/2053 US 2,765,494.62 $2,433,203.16
US TREASURY N/B 4.12500 11/15/2032 US 7,020,338.99 $6,979,752.66
USRE 2021-1 A1 1.91000 10/20/2061 US 337,381.99 $295,554.99
VENTAS INC US VTR 1,278.93 $55,684.80
VERTEX PHARMACEUTICALS INC US VRTX 2,005.72 $838,412.07
VISA INC - CLASS A SHARES US V 6,682.36 $1,864,912.16
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 583,820.22 $546,488.15
WELLTOWER INC. US WELL 1,687.72 $157,700.28
WIN 2015-1 A1 3.50000 01/20/2045 US 28,134.8 $25,452.05

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

$16.52

Daily $ Change

$0.11

Daily % Change

0.67%

as of 04/23/2024

CUSIP

56382R845

Inception Date

04/17/2015

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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

Investment Objective

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

Investment Strategy

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

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

May be Appropriate for Investors

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

About Target Date Funds

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

Learn more about our Glide Range SM

Performance

As of 03/31/2024

YTD

2.31%

1 Year

9.51%

3 Year

1.76%

5 Year

7.09%

10 Year

5.85%

Inception
(04/17/2015)

7.10%

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

Performance through the inception date of the Retirement Target CIT Class 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.

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 03/31/2024

TREASURY NOTES 12.24%
GOVERNMENT AGENCY 10.47%
TREASURY BONDS 6.54%
ISHARES BROAD USD HIGH YIELD 2.43400 3.40%
AMAZON.COM INC 2.79%
MASTERCARD INC-CLASS A 1.89%
ALPHABET INC-CL A 1.87%
TAIWAN SEMICONDUCTOR - SP ADR 1.72%
MICRON TECHNOLOGY INC 1.62%
TSY INFL IX N/B 0.12500 01/15/2031 1.52%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Bonds
54.14%
Stocks
43.42%
Cash
2.44%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
12.85%
Small Capitalization
0.26%
Mid Capitalization
2.50%
Large Capitalization
27.81%
Long Term Fixed Income
13.54%
Intermediate Term Fixed Income
35.49%
Short Term Fixed Income
5.11%
Cash
2.44%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 4,798.26 $171,958.80
ADMIRAL GROUP PLC ADR GB AMIGY 17,752.99 $635,557.02
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 448,065.85 $405,886.70
AGREE REALTY CORP US ADC 1,633.38 $93,298.60
AIR LIQUIDE FR AI FP 590.72 $122,899.38
AIRBUS SE FR AIR FP 802.95 $147,926.55
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 26,427.84 $26,903.56
ALCON INC CH ALC SW 165.23 $13,666.11
ALCON INC CH ALC 9,662.63 $804,800.76
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 236,214.31 $196,372.73
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 920,008.79 $799,249.21
ALPHABET INC-CL A US GOOGL 17,207.64 $2,597,149.57
AMAZON.COM INC US AMZN 21,495.44 $3,877,347.15
AMAZON.COM INC 3.30000 04/13/2027 US 158,867.43 $152,837.52
AMERICAN HOMES 4 RENT- A US AMH 2,639.47 $97,079.71
AMERICAN TOWER REIT INC US AMT 602.28 $119,004.63
AMERICOLD REALTY TRUST US COLD 2,096.34 $52,240.87
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 430,461.07 $404,792.71
ASTRAZENECA GB AZN 22,610.23 $1,531,843.32
ATLASSIAN CORP PLC-CLASS A AU TEAM 362.54 $70,735.11
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 17,317.24 $86,390.64
AUTO TRADER GROUP PLC GB AUTO LN 10,589.42 $93,514.24
AVALONBAY COMMUNITIES INC US AVB 679.02 $125,999.32
AVANZA BANK HOLDING AB SE AZA SS 2,193.39 $47,282.90
BABS 2021-RM2 A 1.75000 10/25/2061 US 163,717.02 $145,785.19
BAE SYSTEMS PLC GB BA/ LN 6,239.65 $106,357.51
BAE SYSTEMS PLC -SPON ADR GB BAESY 9,110.27 $631,796.99
BANK OF AMERICA CORP 2.68700 04/22/2032 US 662,586.62 $560,528.33
BEIERSDORF AG DE BEI GR 888.75 $129,398.93
BIOMARIN PHARMACEUTICAL INC US BMRN 10,518.44 $918,680.63
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 319,069.48 $316,851.81
BORR IHC LTD 10.00000 11/15/2028 MUL 129,208.6 $134,913.72
BRENNTAG AG DE BNR GR 674.26 $56,827.32
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 140,402.62 $98,912.74
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 260,251.37 $255,524.42
CANADIAN NATIONAL RAILWAY CO CA CNI 8,928.3 $1,175,946.67
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 817,450.18 $824,319.83
CELLNEX TELECOM SA ES CLNX SM 3,244.36 $114,768.13
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,272.41 $57,659.86
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 519,989.35 $574,151.94
CIM 2019-INV1 A1 4.00000 02/25/2049 US 9,443.39 $8,981.07
CITIGROUP INC 1.46200 06/09/2027 US 664,006.14 $610,067.36
CLARK CNTY NV 1.51000 11/01/2028 US 272,262.97 $234,596.37
CLEANAWAY WASTE MANAGEMENT AU CWY AU 58,213.14 $103,146.24
COCA COLA CO/THE US KO 31,355.01 $1,918,299.48
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 141,469.98 $126,867.09
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 414,275.82 $394,237.21
COLT 2024-INV1 A1 5.90300 12/25/2068 US 368,011.96 $366,329.28
CONSTELLATION BRANDS INC-A US STZ 3,636.6 $988,283.49
COPART INC US CPRT 17,859.8 $1,034,439.58
CROWN CASTLE INTL CORP US CCI 521.71 $55,212.21
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 76,112.97 $65,691.85
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 42,949.07 $35,764.13
CSX CORP US CSX 25,787.58 $955,945.49
DEUTSCHE BOERSE AG DE DB1 GR 906.06 $185,552.18
DEUTSCHE BOERSE AG ADR DE DBOEY 46,049.85 $940,798.52
DIAGEO PLC GB DGE LN 1,338.91 $49,542.79
DIGITAL REALTY TRUST INC US DLR 405.24 $58,371.46
DIGITALBRIDGE GROUP INC US DBRG 2,771.8 $53,412.62
DOLLARAMA INC CA DOL CN 1,024.97 $78,082.78
ELECTRONIC ARTS US EA 12,152.36 $1,612,253.93
ENERGY TRANSFER LP 7.37500 02/01/2031 US 376,724.76 $394,880.66
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 561,374.48 $596,577.92
EQUINIX INC US EQIX 588.8 $485,958.18
EQUITY COMMONWEALTH US EQC 2,547.56 $48,098.01
EQUITY LIFESTYLE PROPERTIES US ELS 1,711.87 $110,244.18
EQUITY RESIDENTIAL US EQR 1,067.79 $67,388.17
EVERGY INC US EVRG 18,425.15 $983,534.67
EXPERIAN PLC IE EXPN LN 2,289.03 $99,739.87
EXTRA SPACE STORAGE INC US EXR 757.11 $111,295.00
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 584,425.53 $565,061.69
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 15,467.16 $16,160.33
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 7,504.67 $7,840.99
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 8,024.29 $8,384.06
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 52.24 $51.95
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 21,291.93 $20,892.40
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 25,700.77 $25,189.84
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 65,244.74 $63,947.67
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 412,902.27 $425,689.63
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 18,103.84 $16,540.55
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 50,123.26 $47,366.47
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 220,987.88 $198,869.22
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 924,881.91 $857,174.01
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 541,688.26 $493,745.70
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 40,909.61 $38,541.92
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 572,754.13 $542,167.95
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 22,206.95 $21,888.15
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 76,829.34 $75,727.97
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 619,691.03 $555,778.61
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 602,118.25 $558,038.93
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 558,840.22 $567,470.11
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 575,408.79 $502,381.22
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 765,387.81 $747,730.82
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 594,124.53 $520,246.78
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 116,414.67 $113,128.84
FHLM POOL C91780 4.50000 07/01/2034 US 81,346.51 $80,278.16
FHLM POOL G03332 6.00000 10/01/2037 US 2,341.8 $2,449.88
FHLM POOL G05900 6.00000 03/01/2040 US 5,134.22 $5,371.19
FHLM POOL G05906 6.00000 04/01/2040 US 14,323.75 $14,984.85
FHLM POOL G06995 6.00000 05/01/2040 US 14,947.04 $15,636.90
FHLM POOL G60034 4.50000 02/01/2045 US 115,632.91 $113,137.83
FHLM POOL K91364 4.50000 11/01/2033 US 10,374.79 $10,240.52
FHLM POOL K92059 4.50000 09/01/2034 US 56,874.23 $56,153.41
FHLM POOL SD8230 4.50000 06/01/2052 US 447,095.57 $426,924.80
FHR 5189 CP 2.50000 06/25/2049 US 193,711.87 $165,250.10
FINECOBANK SPA IT FBK IM 3,510.16 $52,570.93
FIRST INDUSTRIAL REALTY TR US FR 712.38 $37,428.25
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 3,421.21 $58,913.21
FLX 2021-1A A2 3.25000 11/27/2051 US 546,281.01 $495,096.16
FN DS2696 3.00000 12/01/2051 US 689,626.91 $601,221.22
FN FS4339 MTGE 3.00000 12/01/2050 US 862,767.86 $755,506.01
FN FS4925 MTGE 3.50000 04/01/2052 US 416,318.92 $377,356.16
FN MA4020 MTGE 3.00000 05/01/2050 US 435,578.76 $379,740.39
FN MA4733 4.50000 09/01/2052 US 682,373.4 $651,016.17
FN MA4807 MTGE 5.50000 11/01/2052 US 480,020.38 $478,517.15
FN MA4868 MTGE 5.00000 01/01/2053 US 882,388.46 $862,032.34
FN MA4934 MTGE 5.00000 02/01/2043 US 889,762.93 $882,524.31
FNR 2018-31 KP 3.50000 07/25/2047 US 6,402.49 $6,229.47
FR QG6308 MTG 6.00000 07/01/2053 US 1,090,201.76 $1,104,480.27
FR SD1129 4.00000 08/01/2051 US 358,223.34 $336,681.65
FR SD1360 MTGE 5.50000 07/01/2052 US 383,029.95 $382,151.01
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 578,369.12 $568,913.14
GLOBANT SA LU GLOB 414.8 $83,748.00
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 61,140.66 $55,364.75
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 79,561.05 $66,972.44
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 120,605.51 $99,214.71
GOODMAN GROUP AU GMG AU 2,440.72 $53,762.43
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 278,193.96 $240,139.25
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 95,887.23 $84,424.84
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 223,573.72 $192,683.15
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 151,669.34 $130,240.41
HALMA PLC GB HLMA LN 5,097.15 $152,202.89
HAWAII ST 2.68200 10/01/2038 US 183,692.21 $142,390.64
HDFC BANK LTD-ADR IN HDB 25,482.37 $1,426,248.03
HEINEKEN NV NL HEIA NA 1,718.89 $165,714.33
HEINEKEN NV-SPN ADR NL HEINY 29,808.13 $1,440,626.78
HELIOS TOWERS PLC GB HTWS LN 34,305.34 $40,866.93
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 373,694.28 $365,925.81
HUMANA INC US HUM 1,739.8 $603,224.56
HWIRE 2021-1 A2 2.31100 11/20/2051 US 297,446.98 $269,001.20
IMCD NV NL IMCD NA 898.56 $158,155.08
IMPRL 2021-NQM3 1.59500 11/25/2056 US 254,896.97 $211,588.08
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 131,920.3 $136,807.90
INTERCONTINENTALEXCHANGE INC US ICE 6,867.62 $943,816.80
INTERMEDIATE CAPITAL GROUP GB ICP LN 4,010 $103,864.83
INTUITIVE SURGICAL INC US ISRG 1,810.2 $722,432.46
INVITATION HOMES INC US INVH 4,652.03 $165,658.93
ISHARES BROAD USD HIGH YIELD 2.43400 US 129,099.81 $4,723,762.00
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 98,130.27 $96,432.33
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 56,987,973.99 $375,993.44
JOHNSON & JOHNSON US JNJ 11,575.05 $1,831,056.65
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 59,012.04 $56,558.62
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 951,785.04 $920,540.01
KEYENCE CORP JP 6861 JP 245.33 $113,895.12
KEYWORDS STUDIOS PLC IE KWS LN 3,803.75 $62,507.82
L'OREAL FR OR FP 52.96 $25,080.83
L3HARRIS TECHNOLOGIES INC US LHX 9,052.15 $1,929,013.81
LEXINGTON REALTY TRUST US LXP 11,524.76 $103,953.29
LONZA GROUP AG -REG CH LONN SW 236 $141,035.67
LONZA GROUP AG ADR CH LZAGY 2,999.04 $179,672.33
MARRIOTT VACATIONS WORLD US VAC 454.57 $48,970.65
MASCO CORP US MAS 9,052.02 $714,023.30
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 195,496.49 $194,513.20
MASTERCARD INC-CLASS A US MA 5,451.12 $2,625,096.31
MEDTRONIC INC IE MDT 8,696.75 $757,921.65
MERCADOLIBRE INC BR MELI 81.91 $123,842.65
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 195,496.49 $194,085.98
META PLATFORMS INC US META 3,515.94 $1,707,268.46
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 546,583.04 $30,303.64
MICRON TECHNOLOGY INC US MU 19,109.01 $2,252,760.67
MICROSOFT CORP US MSFT 2,735.93 $1,151,061.31
MID-AMERICA APARTMENT COMM US MAA 294.06 $38,693.00
MONARCH CASINO & RESORT INC US MCRI 833.29 $62,488.38
MONDELEZ INTERNATIONAL INC US MDLZ 8,658.24 $606,076.65
MOODY'S CORPORATION US MCO 3,138 $1,233,329.22
NAVIENT CORP 6.75000 06/25/2025 US 150,489.51 $151,449.43
NESTLE S.A. - ADR CH NSRGY 13,130.14 $1,394,421.32
NESTLE SA-REGISTERED CH NESN SW 1,380.73 $146,702.23
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 140,055.37 $139,574.39
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 195,496.49 $193,457.74
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 370,845.81 $350,893.58
NORTHROP GRUMMAN CORP US NOC 1,994.88 $954,866.85
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 152,618.78 $1.53
NOVARTIS AG- REG CH NVS 7,546.63 $729,985.30
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 355,698.54 $376,071.41
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 75,470.85 $70,410.79
NRZT 2015-2A A1 3.75000 08/25/2055 US 111,732.83 $103,804.17
NRZT 2016-4A A1 3.75000 11/25/2056 US 219,948.79 $204,207.07
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 119,109.12 $108,015.26
OASIS 2023-1A 7.00000 02/15/2035 US 174,626.7 $174,298.05
OBX 2022-INV1 A1 3.00000 12/25/2051 US 157,264.53 $131,937.67
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 163,550.44 $162,736.95
OXFIN 2020-1A A2 3.10100 02/15/2028 US 112,407.42 $109,190.96
OXFIN 2022-1A 3.60200 02/15/2030 US 488,533.8 $466,730.93
OXFIN 2023-1A A2 6.71600 02/15/2031 US 621,783.91 $626,630.34
OXFINF 2024-A A2 6.67500 01/14/2032 US 60,451.87 $60,083.15
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 745,441.79 $781,833.86
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 296,708.44 $286,617.74
PEAR 2023-1A 7.42000 07/15/2035 US 305,641.84 $308,911.41
PELORUS FUND REIT 7.00000 09/30/2026 US 99,604.07 $97,669.27
PEPSICO INC 3.90000 07/18/2032 US 804,443.53 $762,330.08
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 452,108.57 $366,461.49
PFMT 2021-2 A2A 2.00000 04/25/2051 US 264,641.11 $221,677.77
PHILIP MORRIS INTERNATIONAL US PM 17,624.35 $1,614,743.19
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 69,961.69 $63,468.72
PROLOGIS US PLD 3,383.92 $440,654.18
PUBLIC STORAGE INC US PSA 591.93 $171,693.84
QUALCOMM INC 4.25000 05/20/2032 US 817,280.39 $788,726.65
RCKT 2021-6 A1 2.50000 12/25/2051 US 526,356.82 $422,168.05
REALTY INCOME CORP US O 1,518.21 $82,135.12
REXFORD INDUSTRIAL REALITY IN US REXR 2,585.17 $130,034.16
S&P GLOBAL INC US SPGI 2,078.18 $884,160.28
SBA COMMUNICATIONS CORP US SBAC 809.26 $175,367.28
SBA TOWER TRUST 1.88400 01/15/2026 US 230,889.68 $215,567.70
SBA TOWER TRUST 6.59900 01/15/2028 US 554,956.05 $568,787.78
SCML 2019-SBC8 2.86000 04/25/2041 US 121,183.62 $112,528.08
SEMT 2013-2 1.87400 02/25/2043 US 42,783.57 $36,129.95
SEMT 2013-6 A2 3.00000 05/25/2043 US 102,857.97 $90,814.59
SEMT 2013-7 A2 3.00000 06/25/2043 US 44,240.48 $38,664.28
SEMT 2013-8 A1 3.00000 06/25/2043 US 53,453.45 $47,409.99
SERVICENOW INC US NOW 877.31 $668,864.71
SIMON PROPERTY 2.25000 01/15/2032 US 332,670.38 $272,300.24
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 1,012,861.78 $854,276.16
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 368,589.69 $368,022.06
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 205,263.2 $179,273.86
SLMA 2008-3 A3 6.62250 10/25/2021 US 634,324.5 $629,583.23
SLMA 2008-4 A4 7.27250 07/25/2022 US 624,919.82 $631,330.27
SMB 2020-BA A1A 1.29000 07/15/2053 US 240,354.98 $219,227.68
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 46,971.8 $45,937.09
SONY CORP FIRST SECTION JP 6758 JP 1,431.07 $122,714.99
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 308,835.12 $288,749.22
SORT 2020-1 A2 1.99000 07/15/2060 US 253,164.85 $217,704.05
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 635,691.76 $562,760.98
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 518,137.11 $367,874.19
SUN COMMUNITIES US SUI 1,305.97 $167,921.76
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 17,511.28 $2,382,409.90
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 11,786.43 $160,152.44
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 9,922.35 $674,570.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 1,648,100.48 $1,566,568.27
TENCENT HOLDINGS LTD CN 700 HK 3,434.56 $133,775.89
TERRENO REALTY CORP US TRNO 1,716.36 $113,966.56
THERMO FISHER SCIENTIFIC INC US TMO 1,084.97 $630,595.90
TPMT 2016-5 A1 2.50000 10/25/2056 US 6,787.95 $6,759.42
TPMT 2017-1 A1 2.75000 10/25/2056 US 1,660.02 $1,653.00
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 83,662.75 $84,888.15
TREASURY BOND 2.37500 02/15/2042 US 8,915,158.85 $6,641,793.35
TREASURY NOTE 2.25000 11/15/2027 US 1,786,659.04 $1,662,709.57
TSY INFL IX N/B 0.12500 01/15/2031 US 2,362,557.2 $2,105,392.31
TSY INFL IX N/B 2.37500 01/15/2027 US 752,152.04 $758,489.73
UDR INC US UDR 1,085.2 $40,597.28
UNION PAC CORP US UNP 2,736.94 $673,094.61
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 17,673.93 $16,933.86
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 105,984.3 $97,908.04
UNITEDHEALTH GROUP INC US UNH 1,261.93 $624,276.22
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 102,219.03 $87,056.82
US DOLLAR US 3,476,990.13 $3,476,990.13
US TEASURY NOTE 1.75000 11/15/2029 US 2,234,024.48 $1,968,210.48
US TREASURY N/B 0.87500 11/15/2030 US 2,922,348.03 $2,368,015.14
US TREASURY N/B 2.25000 11/15/2025 US 4,177,835.73 $4,013,986.23
US TREASURY N/B 3.62500 02/15/2053 US 2,765,494.62 $2,433,203.16
US TREASURY N/B 4.12500 11/15/2032 US 7,020,338.99 $6,979,752.66
USRE 2021-1 A1 1.91000 10/20/2061 US 337,381.99 $295,554.99
VENTAS INC US VTR 1,278.93 $55,684.80
VERTEX PHARMACEUTICALS INC US VRTX 2,005.72 $838,412.07
VISA INC - CLASS A SHARES US V 6,682.36 $1,864,912.16
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 583,820.22 $546,488.15
WELLTOWER INC. US WELL 1,687.72 $157,700.28
WIN 2015-1 A1 3.50000 01/20/2045 US 28,134.8 $25,452.05

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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