Collective Investment Trusts

Retirement Target 2035 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 growth-oriented mix of investments that seeks to earn a good portion of the long-term growth of the stock market with less volatility. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets. A substantial portion of the portfolio may be invested in long-term, fixed income securities. Stock exposure can range from 49% - 77%.

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 2035
  • Who have time to pursue growth and can accept potentially significant 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

$23.80

Daily $ Change

-$0.09

Daily % Change

-0.38%

as of 04/18/2024

CUSIP

302027610

Inception Date

08/03/2012

This fund is only available 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

2.72%

1 Year

10.93%

3 Year

2.08%

5 Year

7.77%

10 Year

6.40%

Inception
(08/03/2012)

7.01%

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 I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses.

Expense Ratio

Gross 0.71%
Net 0.69%*

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

Top Ten Investments

As of 03/31/2024

TREASURY NOTES 9.16%
GOVERNMENT AGENCY 8.38%
TREASURY BONDS 6.89%
ISHARES BROAD USD HIGH YIELD 2.43400 3.42%
AMAZON.COM INC 3.26%
ALPHABET INC-CL A 2.22%
MASTERCARD INC-CLASS A 2.09%
TAIWAN SEMICONDUCTOR - SP ADR 1.94%
MICRON TECHNOLOGY INC 1.91%
TSY INFL IX N/B 0.12500 01/15/2031 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Stocks
51.31%
Bonds
46.03%
Cash
2.66%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
14.70%
Small Capitalization
0.28%
Mid Capitalization
2.85%
Large Capitalization
33.48%
Long Term Fixed Income
12.81%
Intermediate Term Fixed Income
29.64%
Short Term Fixed Income
3.58%
Cash
2.66%

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)
3M CO US MMM 12.83 $1,361.14
ABBOTT LABORATORIES US ABT 24.89 $2,828.57
ADMIRAL GROUP PLC GB ADM LN 2,295.59 $82,268.80
ADMIRAL GROUP PLC ADR GB AMIGY 8,384.4 $300,161.39
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 166,651.66 $150,963.73
AGREE REALTY CORP US ADC 742.9 $42,434.30
AIR LIQUIDE FR AI FP 281.73 $58,612.73
AIRBUS SE FR AIR FP 386.43 $71,191.03
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 11,716.78 $11,927.69
ALCON INC CH ALC 4,973.31 $414,227.02
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 86,862.83 $72,211.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 358,511.51 $311,453.59
ALPHABET INC-CL A US GOOGL 8,763.96 $1,322,744.04
AMAZON.COM INC US AMZN 10,768.93 $1,942,499.83
AMAZON.COM INC 3.30000 04/13/2027 US 58,014.44 $55,812.47
AMERICAN HOMES 4 RENT- A US AMH 1,201.47 $44,190.24
AMERICAN TOWER REIT INC US AMT 273.48 $54,036.82
AMERICOLD REALTY TRUST US COLD 954.79 $23,793.40
ANALOG DEVICES INC US ADI 11.72 $2,318.97
APPLIED MATERIALS INC US AMAT 393.43 $81,137.74
ARCHER-DANIELS-MIDLAND CO US ADM 14.33 $900.06
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 160,896.96 $151,302.68
ASTRAZENECA GB AZN 11,654.86 $789,616.53
ATLASSIAN CORP PLC-CLASS A AU TEAM 174.24 $33,995.04
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 8,261.2 $41,212.73
AUTO TRADER GROUP PLC GB AUTO LN 5,093.94 $44,984.17
AVALONBAY COMMUNITIES INC US AVB 306.34 $56,843.63
AVANZA BANK HOLDING AB SE AZA SS 1,046.21 $22,553.05
BABS 2021-RM2 A 1.75000 10/25/2061 US 105,126.6 $93,612.15
BAE SYSTEMS PLC GB BA/ LN 2,962.96 $50,504.87
BAE SYSTEMS PLC -SPON ADR GB BAESY 4,307.84 $298,748.42
BANK OF AMERICA CORP US BAC 85.41 $3,238.74
BANK OF AMERICA CORP 2.68700 04/22/2032 US 247,039.44 $208,987.93
BAXTER INTERNATIONAL INC US BAX 13.93 $595.18
BEIERSDORF AG DE BEI GR 424.41 $61,793.18
BIOMARIN PHARMACEUTICAL INC US BMRN 4,930.07 $430,592.50
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 116,028.87 $115,222.42
BORR IHC LTD 10.00000 11/15/2028 MUL 53,396.93 $55,754.63
BOSTON SCIENTIFIC CORP US BSX 414.68 $28,401.50
BRENNTAG AG DE BNR GR 321.61 $27,105.59
BRISTOL MYERS SQUIBB CO US BMY 37.55 $2,036.55
BROADCOM INC US AVGO 4.57 $6,053.11
BROADRIDGE FINANCIAL SOLUTIONS US BR 4.27 $874.24
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 57,831.46 $40,741.89
BUNGE LIMITED US BG 5.56 $569.52
C.H. ROBINSON WORLDWIDE INC US CHRW 5.54 $421.84
CAMPBELL SOUP CO US CPB 11.98 $532.46
CANADIAN NATIONAL RAILWAY CO CA CNI 4,286.1 $564,522.60
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 305,428.22 $307,994.96
CATERPILLAR INC US CAT 11.38 $4,169.97
CELLNEX TELECOM SA ES CLNX SM 1,466.37 $51,872.23
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,451.12 $60,808.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 193,357.21 $213,497.48
CHEVRON CORP US CVX 21.46 $3,384.67
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,208.37 $4,002.34
CISCO SYSTEMS INC US CSCO 67.5 $3,368.99
CITIGROUP INC US C 38.35 $2,425.10
CITIGROUP INC 1.46200 06/09/2027 US 247,759.78 $227,633.67
CLARK CNTY NV 1.51000 11/01/2028 US 5,240.79 $4,515.74
CLEANAWAY WASTE MANAGEMENT AU CWY AU 28,340.8 $50,216.28
COCA COLA CO/THE US KO 15,242.16 $932,515.09
COGNIZANT TECH SOLUTIONS - A US CTSH 11.2 $820.87
COLGATE-PALMOLIVE CO US CL 19.71 $1,774.47
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 150,322.33 $143,051.21
COLT 2024-INV1 A1 5.90300 12/25/2068 US 133,200.86 $132,591.81
COMCAST CORP-CL A US CMCSA 66.57 $2,885.94
CONAGRA BRAND INC. US CAG 17.64 $522.82
CONOCOPHILLIPS US COP 19.35 $2,462.36
CONSTELLATION BRANDS INC-A US STZ 1,916.21 $520,749.50
COPART INC US CPRT 7,395.49 $428,346.74
CORNING INC US GLW 19.11 $629.75
COTERRA ENERGY INC US CTRA 23.12 $644.57
CROWN CASTLE INTL CORP US CCI 235.94 $24,969.36
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,271.08 $27,852.64
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 18,166.98 $15,127.83
CSX CORP US CSX 12,400.8 $459,697.48
CUMMINS INC US CMI 4.91 $1,447.13
CVS HEALTH CORP US CVS 18.75 $1,495.26
DEUTSCHE BOERSE AG DE DB1 GR 433.44 $88,763.95
DEUTSCHE BOERSE AG ADR DE DBOEY 21,534.76 $439,955.24
DEVON ENERGY CORPORATION US DVN 15.87 $796.46
DIAGEO PLC GB DGE LN 635.92 $23,530.63
DIAMONDBACK ENERGY INC US FANG 4.91 $973.29
DIGITAL REALTY TRUST INC US DLR 184.32 $26,548.82
DIGITALBRIDGE GROUP INC US DBRG 1,258 $24,241.64
DOLLARAMA INC CA DOL CN 485.61 $36,994.22
DOW INC US DOW 16.5 $955.90
EBAY INC US EBAY 15.24 $804.54
ELECTRONIC ARTS US EA 6,085.52 $807,366.02
EMERSON ELEC CO US EMR 15.35 $1,740.77
ENERGY TRANSFER LP 7.37500 02/01/2031 US 139,001.16 $145,700.20
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 207,505.2 $220,517.71
EOG RESOURCES INC US EOG 11.34 $1,449.08
EQUINIX INC US EQIX 372.5 $307,434.15
EQUITY COMMONWEALTH US EQC 1,156.79 $21,840.13
EQUITY LIFESTYLE PROPERTIES US ELS 777.32 $50,059.56
EQUITY RESIDENTIAL US EQR 486.33 $30,692.23
EVERGY INC US EVRG 9,390.41 $501,259.96
EXPERIAN GROUP LTD-SPON ADR IE EXPGY 904.69 $39,390.39
EXPERIAN PLC IE EXPN LN 1,091.54 $47,561.50
EXTRA SPACE STORAGE INC US EXR 341.55 $50,208.47
EXXON MOBIL CORP US XOM 34.08 $3,961.47
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 203,066.93 $196,338.69
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,993.87 $3,128.10
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 22.72 $22.59
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,168.44 $10,946.41
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 198,378.24 $204,521.91
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 141,901.58 $127,698.67
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 330,016.98 $305,857.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 193,997.93 $176,827.98
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 17,694.34 $16,670.26
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 204,650.05 $193,721.34
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 37,108.3 $36,576.33
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 222,108.3 $199,200.95
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 216,383.25 $200,542.46
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 193,026.6 $196,007.42
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 206,477.25 $180,272.35
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 213,833.01 $208,900.02
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 210,164.96 $184,031.53
FEDEX CORPORATION US FDX 4.37 $1,266.83
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 44,643.65 $43,383.57
FHLM POOL C91780 4.50000 07/01/2034 US 52,234.53 $51,548.52
FHLM POOL G05906 6.00000 04/01/2040 US 6,295.97 $6,586.56
FHLM POOL K91364 4.50000 11/01/2033 US 6,661.9 $6,575.68
FHLM POOL K92059 4.50000 09/01/2034 US 36,520.3 $36,057.45
FHLM POOL SD8230 4.50000 06/01/2052 US 143,489.43 $137,015.89
FIFTH THIRD BANCORP US FITB 22.58 $840.21
FINECOBANK SPA IT FBK IM 1,674.29 $25,075.57
FIRST INDUSTRIAL REALTY TR US FR 323.91 $17,018.00
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,567.36 $26,989.86
FLX 2021-1A A2 3.25000 11/27/2051 US 203,377.28 $184,321.45
FMC CORP US FMC 4.82 $307.13
FN DS2696 3.00000 12/01/2051 US 252,260.6 $219,922.43
FN FS4339 MTGE 3.00000 12/01/2050 US 338,927.42 $296,790.96
FN MA4733 4.50000 09/01/2052 US 250,011.59 $238,522.77
FN MA4807 MTGE 5.50000 11/01/2052 US 173,189.04 $172,646.69
FN MA4868 MTGE 5.00000 01/01/2053 US 318,610.77 $311,260.63
FN MA4934 MTGE 5.00000 02/01/2043 US 313,267.97 $310,719.40
FNR 2018-31 KP 3.50000 07/25/2047 US 2,588.85 $2,518.89
FR QG6308 MTG 6.00000 07/01/2053 US 492,136.08 $498,581.64
FR SD1129 4.00000 08/01/2051 US 230,023.74 $216,191.31
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 371,384.59 $365,312.68
GENERAL DYNAMICS CORP US GD 6.27 $1,772.33
GENERAL MLS INC US GIS 16.29 $1,139.91
GENUINE PARTS CO US GPC 5.18 $802.68
GILEAD SCIENCES INC US GILD 27.7 $2,029.12
GLOBANT SA LU GLOB 197.78 $39,931.98
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 27,607.74 $24,999.66
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 32,520.95 $27,375.30
GOODMAN GROUP AU GMG AU 1,122.47 $24,725.07
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 100,620.1 $86,856.08
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 81,234.04 $70,010.15
HALLIBURTON CO US HAL 20.3 $800.40
HALMA PLC GB HLMA LN 2,431.39 $72,602.35
HARTFORD FINL SVCS US HIG 7.53 $776.15
HAWAII ST 2.68200 10/01/2038 US 17,684.98 $13,708.67
HDFC BANK LTD-ADR IN HDB 11,832.72 $662,277.21
HEINEKEN NV NL HEIA NA 827.2 $79,748.64
HEINEKEN NV-SPN ADR NL HEINY 13,458.35 $650,441.84
HELIOS TOWERS PLC GB HTWS LN 15,576.81 $18,556.18
HOME DEPOT INC US HD 15.05 $5,772.62
HONEYWELL INTERNATIONAL INC US HON 13.45 $2,759.87
HUMANA INC US HUM 1,016.45 $352,424.90
HUNTINGTON BANCSHARES US HBAN 38.08 $531.19
HWIRE 2021-1 A2 2.31100 11/20/2051 US 190,997.79 $172,732.08
IDEXX LABORATORIES INC US IDXX 69.79 $37,682.95
IMCD NV NL IMCD NA 428.57 $75,432.10
IMPRL 2021-NQM3 1.59500 11/25/2056 US 94,016.19 $78,042.14
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 54,131.44 $56,136.99
INTERCONTINENTALEXCHANGE INC US ICE 3,727.19 $512,228.33
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,912.74 $49,542.83
INTERNATIONAL BUSINESS MACH CORP US IBM 11.84 $2,261.76
INTERNATIONAL FLVRS & FRAGRANCES US IFF 7.26 $624.48
INTUIT INC US INTU 86.85 $56,450.75
INTUITIVE SURGICAL INC US ISRG 967.22 $386,009.56
INVITATION HOMES INC US INVH 2,109.62 $75,123.63
ISHARES BROAD USD HIGH YIELD 2.43400 US 55,656.4 $2,036,467.75
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 42,443.95 $41,709.55
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 19,453,478.55 $128,349.54
JM SMUCKER CO/THE-NEW COM WI US SJM 4.24 $533.38
JOHNSON & JOHNSON US JNJ 5,855.94 $926,351.14
JP MORGAN CHASE & CO US JPM 240.93 $48,257.56
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 26,610.01 $25,503.70
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 355,002.85 $343,348.88
KELLOGG CO US K 8.12 $464.95
KEYENCE CORP JP 6861 JP 116.59 $54,128.86
KEYWORDS STUDIOS PLC IE KWS LN 1,830.56 $30,081.87
KRAFT HEINZ CO/THE US KHC 22.73 $838.74
L'OREAL FR OR FP 24.16 $11,443.05
L3HARRIS TECHNOLOGIES INC US LHX 4,490.55 $956,936.58
LEXINGTON REALTY TRUST US LXP 5,234.52 $47,215.36
LOCKHEED MARTIN CORP US LMT 5.29 $2,404.31
LONZA GROUP AG -REG CH LONN SW 112.08 $66,976.89
LONZA GROUP AG ADR CH LZAGY 2,283.07 $136,778.52
MARATHON OIL CORP US MRO 17.19 $487.16
MARATHON PETROLEUM CORP US MPC 9.85 $1,985.31
MARRIOTT VACATIONS WORLD US VAC 206.68 $22,265.47
MASCO CORP US MAS 4,816.6 $379,933.68
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 72,265.63 $71,902.16
MASTERCARD INC-CLASS A US MA 2,586.51 $1,245,585.32
MEDTRONIC INC IE MDT 4,440.61 $386,998.96
MERCADOLIBRE INC BR MELI 58.46 $88,388.22
MERCK & CO INC US MRK 39.53 $5,216.05
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 72,265.63 $71,744.24
META PLATFORMS INC US META 1,873.3 $909,636.20
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 265,274.71 $14,707.35
MICROCHIP TECHNOLOGY INC US MCHP 13.06 $1,171.35
MICRON TECHNOLOGY INC US MU 9,628.7 $1,135,127.29
MICROSOFT CORP US MSFT 1,505.13 $633,237.61
MID-AMERICA APARTMENT COMM US MAA 133.94 $17,623.84
MONARCH CASINO & RESORT INC US MCRI 381.73 $28,625.74
MONDELEZ INTERNATIONAL INC US MDLZ 4,654.36 $325,805.50
MOODY'S CORPORATION US MCO 1,555.13 $611,212.02
NAVIENT CORP 6.75000 06/25/2025 US 65,551.81 $65,969.94
NESTLE S.A. - ADR CH NSRGY 6,294.45 $668,470.11
NESTLE SA-REGISTERED CH NESN SW 657 $69,805.88
NETAPP INC US NTAP 8.55 $897.49
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 57,008.79 $56,813.01
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 72,265.63 $71,512.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 136,535.05 $129,189.20
NORFOLK SOUTHN CORP US NSC 115.22 $29,366.74
NORTHROP GRUMMAN CORP US NOC 978.05 $468,155.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 67,605.61 $0.68
NOVARTIS AG- REG CH NVS 3,688.53 $356,791.42
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 131,852.3 $139,404.23
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 31,652.94 $29,530.72
NRZT 2015-2A A1 3.75000 08/25/2055 US 52,199.85 $48,495.70
NRZT 2016-4A A1 3.75000 11/25/2056 US 102,023.74 $94,721.91
NVIDIA CORP US NVDA 79.54 $71,869.30
OASIS 2023-1A 7.00000 02/15/2035 US 62,672.05 $62,554.10
OMNICOM GROUP US OMC 7.82 $756.30
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 73,734.66 $73,367.90
OXFIN 2020-1A A2 3.10100 02/15/2028 US 39,930.09 $38,787.51
OXFIN 2022-1A 3.60200 02/15/2030 US 172,355.38 $164,663.30
OXFIN 2023-1A A2 6.71600 02/15/2031 US 219,293.76 $221,003.02
OXFINF 2024-A A2 6.67500 01/14/2032 US 22,854.91 $22,715.51
PACKAGING CORP OF AMERICA US PKG 3.64 $690.53
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 273,061.02 $286,391.71
PARAMOUNT GLOBAL CLASS B US PARA 21.41 $252.02
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 110,485.72 $106,728.23
PEAR 2023-1A 7.42000 07/15/2035 US 107,289.25 $108,436.97
PELORUS FUND REIT 7.00000 09/30/2026 US 62,089.68 $60,883.60
PEPSICO INC 3.90000 07/18/2032 US 312,951.42 $296,568.09
PFIZER INC US PFE 73.93 $2,051.42
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 163,930.14 $132,875.35
PFMT 2021-2 A2A 2.00000 04/25/2051 US 94,662.78 $79,294.69
PHILIP MORRIS INTERNATIONAL US PM 8,254.24 $756,253.17
PHILLIPS 66 US PSX 8.42 $1,374.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 27,283.88 $24,751.73
PPG INDUSTRIES INC US PPG 5.9 $854.86
PROLOGIS US PLD 1,538.57 $200,353.13
PUBLIC STORAGE INC US PSA 268.56 $77,899.72
QUALCOMM 5.40000 05/20/2033 US 5,839.73 $6,130.85
QUALCOMM INC US QCOM 21.5 $3,640.32
QUALCOMM INC 4.25000 05/20/2032 US 296,201.23 $285,852.70
QUEST DIAGNOSTICS INC US DGX 4.57 $607.91
RAYTHEON TECHNOLOGIES CORP US RTX 19.2 $1,872.21
RCKT 2021-6 A1 2.50000 12/25/2051 US 174,271.78 $139,775.86
REALTY INCOME CORP US O 689.06 $37,278.02
REGIONS FINANCIAL CORP. US RF 34.13 $717.99
REXFORD INDUSTRIAL REALITY IN US REXR 1,175.8 $59,142.72
S&P GLOBAL INC US SPGI 1,056.47 $449,473.82
SALESFORCE INC US CRM 283.5 $85,383.49
SBA COMMUNICATIONS CORP US SBAC 605.81 $131,278.54
SBA TOWER TRUST 6.59900 01/15/2028 US 208,093.98 $213,280.52
SCHLUMBERGER LTD US SLB 23.99 $1,314.77
SEMT 2013-2 1.87400 02/25/2043 US 18,790.83 $15,868.51
SEMT 2013-6 A2 3.00000 05/25/2043 US 43,082.54 $38,038.12
SEMT 2013-7 A2 3.00000 06/25/2043 US 18,784.98 $16,417.27
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,801.07 $20,223.18
SERVICENOW INC US NOW 491.15 $374,451.55
SIMON PROPERTY 2.25000 01/15/2032 US 132,340.02 $108,324.10
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 369,861.02 $311,951.20
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 136,423.29 $136,213.19
SKYWORKS SOLUTIONS INC US SWKS 5.06 $548.22
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 131,804.39 $115,116.02
SLMA 2008-3 A3 6.62250 10/25/2021 US 245,291.05 $243,457.61
SLMA 2008-4 A4 7.27250 07/25/2022 US 241,657.87 $244,136.80
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,460.56 $83,421.14
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 20,012.72 $19,571.88
SONY CORP FIRST SECTION JP 6758 JP 687.85 $58,983.91
SONY CORP SPONSORED ADR JP SONY 549.67 $47,128.58
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 119,300.93 $111,541.89
SORT 2020-1 A2 1.99000 07/15/2060 US 96,631.51 $83,096.34
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 342,204.37 $302,944.41
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 214,761.33 $152,479.23
SUN COMMUNITIES US SUI 594.45 $76,434.84
SYSCO CORP US SYY 10.21 $829.01
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 8,504.59 $1,157,049.91
TE CONNECTIVITY LIMITED CH TEL 7.11 $1,033.02
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 5,609.22 $76,217.31
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 4,641.27 $315,536.56
TENCENT HOLDINGS 3.97500 04/11/2029 KY 636,214.36 $604,740.58
TENCENT HOLDINGS LTD CN 700 HK 1,650.25 $64,277.10
TERRENO REALTY CORP US TRNO 780.68 $51,836.84
TEXAS INSTRUMENTS INC US TXN 13.66 $2,379.01
THERMO FISHER SCIENTIFIC INC US TMO 562.56 $326,962.77
TPMT 2016-5 A1 2.50000 10/25/2056 US 3,106.76 $3,093.71
TPMT 2017-1 A1 2.75000 10/25/2056 US 739.57 $736.44
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 37,265.42 $37,811.24
TRAVELLERS COS INC US TRV 6.59 $1,516.26
TREASURY BOND 2.37500 02/15/2042 US 3,904,525.26 $2,908,871.32
TRUIST FINANCIAL CORP US TFC 25.26 $984.66
TSY INFL IX N/B 0.12500 01/15/2031 US 1,095,726.84 $976,456.72
TYSON FOODS INC -CL A US TSN 10.51 $617.34
U.S. BANCORP US USB 35.29 $1,577.59
UDR INC US UDR 486.88 $18,214.12
UNION PAC CORP US UNP 1,216.94 $299,282.45
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,618.4 $7,299.39
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 44,060.74 $40,703.20
UNITED PARCEL SERVICE US UPS 13.07 $1,942.89
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 57,963.09 $56,914.77
UNITEDHEALTH GROUP INC US UNH 737.24 $364,712.55
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 44,212.45 $37,654.39
US DOLLAR US 1,626,476.24 $1,626,476.24
US TEASURY NOTE 1.75000 11/15/2029 US 231,987.12 $204,384.28
US TREASURY N/B 0.87500 11/15/2030 US 1,337,083.73 $1,083,455.66
US TREASURY N/B 2.25000 11/15/2025 US 1,266,421.45 $1,216,753.99
US TREASURY N/B 3.12500 11/15/2028 US 135,107.45 $128,763.74
US TREASURY N/B 3.62500 02/15/2053 US 1,356,540.25 $1,193,543.46
US TREASURY N/B 4.12500 11/15/2032 US 2,776,413.69 $2,760,362.55
USRE 2021-1 A1 1.91000 10/20/2061 US 216,641.01 $189,782.90
VALERO ENERGY US VLO 6.71 $1,145.02
VENTAS INC US VTR 580.4 $25,270.73
VERTEX PHARMACEUTICALS INC US VRTX 917.14 $383,373.08
VISA INC - CLASS A SHARES US V 3,362.04 $938,277.45
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 217,545.58 $203,634.74
WELLS FARGO COMPANY US WFC 46.75 $2,709.50
WELLTOWER INC. US WELL 766 $71,574.89
WIN 2015-1 A1 3.50000 01/20/2045 US 11,572.61 $10,469.12

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

$23.80

Daily $ Change

-$0.09

Daily % Change

-0.38%

as of 04/18/2024

CUSIP

302027610

Inception Date

08/03/2012

This fund is only available 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 growth-oriented mix of investments that seeks to earn a good portion of the long-term growth of the stock market with less volatility. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets. A substantial portion of the portfolio may be invested in long-term, fixed income securities. Stock exposure can range from 49% - 77%.

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 2035
  • Who have time to pursue growth and can accept potentially significant 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

2.72%

1 Year

10.93%

3 Year

2.08%

5 Year

7.77%

10 Year

6.40%

Inception
(08/03/2012)

7.01%

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 I Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class I expenses.

Expense Ratio

Gross 0.71%
Net 0.69%*

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

Top Ten Investments

As of 03/31/2024

TREASURY NOTES 9.16%
GOVERNMENT AGENCY 8.38%
TREASURY BONDS 6.89%
ISHARES BROAD USD HIGH YIELD 2.43400 3.42%
AMAZON.COM INC 3.26%
ALPHABET INC-CL A 2.22%
MASTERCARD INC-CLASS A 2.09%
TAIWAN SEMICONDUCTOR - SP ADR 1.94%
MICRON TECHNOLOGY INC 1.91%
TSY INFL IX N/B 0.12500 01/15/2031 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2024

Stocks
51.31%
Bonds
46.03%
Cash
2.66%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
14.70%
Small Capitalization
0.28%
Mid Capitalization
2.85%
Large Capitalization
33.48%
Long Term Fixed Income
12.81%
Intermediate Term Fixed Income
29.64%
Short Term Fixed Income
3.58%
Cash
2.66%

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)
3M CO US MMM 12.83 $1,361.14
ABBOTT LABORATORIES US ABT 24.89 $2,828.57
ADMIRAL GROUP PLC GB ADM LN 2,295.59 $82,268.80
ADMIRAL GROUP PLC ADR GB AMIGY 8,384.4 $300,161.39
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 166,651.66 $150,963.73
AGREE REALTY CORP US ADC 742.9 $42,434.30
AIR LIQUIDE FR AI FP 281.73 $58,612.73
AIRBUS SE FR AIR FP 386.43 $71,191.03
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 11,716.78 $11,927.69
ALCON INC CH ALC 4,973.31 $414,227.02
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 86,862.83 $72,211.93
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 358,511.51 $311,453.59
ALPHABET INC-CL A US GOOGL 8,763.96 $1,322,744.04
AMAZON.COM INC US AMZN 10,768.93 $1,942,499.83
AMAZON.COM INC 3.30000 04/13/2027 US 58,014.44 $55,812.47
AMERICAN HOMES 4 RENT- A US AMH 1,201.47 $44,190.24
AMERICAN TOWER REIT INC US AMT 273.48 $54,036.82
AMERICOLD REALTY TRUST US COLD 954.79 $23,793.40
ANALOG DEVICES INC US ADI 11.72 $2,318.97
APPLIED MATERIALS INC US AMAT 393.43 $81,137.74
ARCHER-DANIELS-MIDLAND CO US ADM 14.33 $900.06
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 160,896.96 $151,302.68
ASTRAZENECA GB AZN 11,654.86 $789,616.53
ATLASSIAN CORP PLC-CLASS A AU TEAM 174.24 $33,995.04
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 8,261.2 $41,212.73
AUTO TRADER GROUP PLC GB AUTO LN 5,093.94 $44,984.17
AVALONBAY COMMUNITIES INC US AVB 306.34 $56,843.63
AVANZA BANK HOLDING AB SE AZA SS 1,046.21 $22,553.05
BABS 2021-RM2 A 1.75000 10/25/2061 US 105,126.6 $93,612.15
BAE SYSTEMS PLC GB BA/ LN 2,962.96 $50,504.87
BAE SYSTEMS PLC -SPON ADR GB BAESY 4,307.84 $298,748.42
BANK OF AMERICA CORP US BAC 85.41 $3,238.74
BANK OF AMERICA CORP 2.68700 04/22/2032 US 247,039.44 $208,987.93
BAXTER INTERNATIONAL INC US BAX 13.93 $595.18
BEIERSDORF AG DE BEI GR 424.41 $61,793.18
BIOMARIN PHARMACEUTICAL INC US BMRN 4,930.07 $430,592.50
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 116,028.87 $115,222.42
BORR IHC LTD 10.00000 11/15/2028 MUL 53,396.93 $55,754.63
BOSTON SCIENTIFIC CORP US BSX 414.68 $28,401.50
BRENNTAG AG DE BNR GR 321.61 $27,105.59
BRISTOL MYERS SQUIBB CO US BMY 37.55 $2,036.55
BROADCOM INC US AVGO 4.57 $6,053.11
BROADRIDGE FINANCIAL SOLUTIONS US BR 4.27 $874.24
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 57,831.46 $40,741.89
BUNGE LIMITED US BG 5.56 $569.52
C.H. ROBINSON WORLDWIDE INC US CHRW 5.54 $421.84
CAMPBELL SOUP CO US CPB 11.98 $532.46
CANADIAN NATIONAL RAILWAY CO CA CNI 4,286.1 $564,522.60
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 305,428.22 $307,994.96
CATERPILLAR INC US CAT 11.38 $4,169.97
CELLNEX TELECOM SA ES CLNX SM 1,466.37 $51,872.23
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 3,451.12 $60,808.69
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 193,357.21 $213,497.48
CHEVRON CORP US CVX 21.46 $3,384.67
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,208.37 $4,002.34
CISCO SYSTEMS INC US CSCO 67.5 $3,368.99
CITIGROUP INC US C 38.35 $2,425.10
CITIGROUP INC 1.46200 06/09/2027 US 247,759.78 $227,633.67
CLARK CNTY NV 1.51000 11/01/2028 US 5,240.79 $4,515.74
CLEANAWAY WASTE MANAGEMENT AU CWY AU 28,340.8 $50,216.28
COCA COLA CO/THE US KO 15,242.16 $932,515.09
COGNIZANT TECH SOLUTIONS - A US CTSH 11.2 $820.87
COLGATE-PALMOLIVE CO US CL 19.71 $1,774.47
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 150,322.33 $143,051.21
COLT 2024-INV1 A1 5.90300 12/25/2068 US 133,200.86 $132,591.81
COMCAST CORP-CL A US CMCSA 66.57 $2,885.94
CONAGRA BRAND INC. US CAG 17.64 $522.82
CONOCOPHILLIPS US COP 19.35 $2,462.36
CONSTELLATION BRANDS INC-A US STZ 1,916.21 $520,749.50
COPART INC US CPRT 7,395.49 $428,346.74
CORNING INC US GLW 19.11 $629.75
COTERRA ENERGY INC US CTRA 23.12 $644.57
CROWN CASTLE INTL CORP US CCI 235.94 $24,969.36
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,271.08 $27,852.64
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 18,166.98 $15,127.83
CSX CORP US CSX 12,400.8 $459,697.48
CUMMINS INC US CMI 4.91 $1,447.13
CVS HEALTH CORP US CVS 18.75 $1,495.26
DEUTSCHE BOERSE AG DE DB1 GR 433.44 $88,763.95
DEUTSCHE BOERSE AG ADR DE DBOEY 21,534.76 $439,955.24
DEVON ENERGY CORPORATION US DVN 15.87 $796.46
DIAGEO PLC GB DGE LN 635.92 $23,530.63
DIAMONDBACK ENERGY INC US FANG 4.91 $973.29
DIGITAL REALTY TRUST INC US DLR 184.32 $26,548.82
DIGITALBRIDGE GROUP INC US DBRG 1,258 $24,241.64
DOLLARAMA INC CA DOL CN 485.61 $36,994.22
DOW INC US DOW 16.5 $955.90
EBAY INC US EBAY 15.24 $804.54
ELECTRONIC ARTS US EA 6,085.52 $807,366.02
EMERSON ELEC CO US EMR 15.35 $1,740.77
ENERGY TRANSFER LP 7.37500 02/01/2031 US 139,001.16 $145,700.20
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 207,505.2 $220,517.71
EOG RESOURCES INC US EOG 11.34 $1,449.08
EQUINIX INC US EQIX 372.5 $307,434.15
EQUITY COMMONWEALTH US EQC 1,156.79 $21,840.13
EQUITY LIFESTYLE PROPERTIES US ELS 777.32 $50,059.56
EQUITY RESIDENTIAL US EQR 486.33 $30,692.23
EVERGY INC US EVRG 9,390.41 $501,259.96
EXPERIAN GROUP LTD-SPON ADR IE EXPGY 904.69 $39,390.39
EXPERIAN PLC IE EXPN LN 1,091.54 $47,561.50
EXTRA SPACE STORAGE INC US EXR 341.55 $50,208.47
EXXON MOBIL CORP US XOM 34.08 $3,961.47
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 203,066.93 $196,338.69
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,993.87 $3,128.10
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 22.72 $22.59
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,168.44 $10,946.41
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 198,378.24 $204,521.91
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 141,901.58 $127,698.67
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 330,016.98 $305,857.40
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 193,997.93 $176,827.98
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 17,694.34 $16,670.26
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 204,650.05 $193,721.34
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 37,108.3 $36,576.33
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 222,108.3 $199,200.95
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 216,383.25 $200,542.46
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 193,026.6 $196,007.42
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 206,477.25 $180,272.35
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 213,833.01 $208,900.02
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 210,164.96 $184,031.53
FEDEX CORPORATION US FDX 4.37 $1,266.83
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 44,643.65 $43,383.57
FHLM POOL C91780 4.50000 07/01/2034 US 52,234.53 $51,548.52
FHLM POOL G05906 6.00000 04/01/2040 US 6,295.97 $6,586.56
FHLM POOL K91364 4.50000 11/01/2033 US 6,661.9 $6,575.68
FHLM POOL K92059 4.50000 09/01/2034 US 36,520.3 $36,057.45
FHLM POOL SD8230 4.50000 06/01/2052 US 143,489.43 $137,015.89
FIFTH THIRD BANCORP US FITB 22.58 $840.21
FINECOBANK SPA IT FBK IM 1,674.29 $25,075.57
FIRST INDUSTRIAL REALTY TR US FR 323.91 $17,018.00
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,567.36 $26,989.86
FLX 2021-1A A2 3.25000 11/27/2051 US 203,377.28 $184,321.45
FMC CORP US FMC 4.82 $307.13
FN DS2696 3.00000 12/01/2051 US 252,260.6 $219,922.43
FN FS4339 MTGE 3.00000 12/01/2050 US 338,927.42 $296,790.96
FN MA4733 4.50000 09/01/2052 US 250,011.59 $238,522.77
FN MA4807 MTGE 5.50000 11/01/2052 US 173,189.04 $172,646.69
FN MA4868 MTGE 5.00000 01/01/2053 US 318,610.77 $311,260.63
FN MA4934 MTGE 5.00000 02/01/2043 US 313,267.97 $310,719.40
FNR 2018-31 KP 3.50000 07/25/2047 US 2,588.85 $2,518.89
FR QG6308 MTG 6.00000 07/01/2053 US 492,136.08 $498,581.64
FR SD1129 4.00000 08/01/2051 US 230,023.74 $216,191.31
FREMF 2015-K43 B FLT 3.72996 02/25/2048 US 371,384.59 $365,312.68
GENERAL DYNAMICS CORP US GD 6.27 $1,772.33
GENERAL MLS INC US GIS 16.29 $1,139.91
GENUINE PARTS CO US GPC 5.18 $802.68
GILEAD SCIENCES INC US GILD 27.7 $2,029.12
GLOBANT SA LU GLOB 197.78 $39,931.98
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 27,607.74 $24,999.66
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 32,520.95 $27,375.30
GOODMAN GROUP AU GMG AU 1,122.47 $24,725.07
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 100,620.1 $86,856.08
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 81,234.04 $70,010.15
HALLIBURTON CO US HAL 20.3 $800.40
HALMA PLC GB HLMA LN 2,431.39 $72,602.35
HARTFORD FINL SVCS US HIG 7.53 $776.15
HAWAII ST 2.68200 10/01/2038 US 17,684.98 $13,708.67
HDFC BANK LTD-ADR IN HDB 11,832.72 $662,277.21
HEINEKEN NV NL HEIA NA 827.2 $79,748.64
HEINEKEN NV-SPN ADR NL HEINY 13,458.35 $650,441.84
HELIOS TOWERS PLC GB HTWS LN 15,576.81 $18,556.18
HOME DEPOT INC US HD 15.05 $5,772.62
HONEYWELL INTERNATIONAL INC US HON 13.45 $2,759.87
HUMANA INC US HUM 1,016.45 $352,424.90
HUNTINGTON BANCSHARES US HBAN 38.08 $531.19
HWIRE 2021-1 A2 2.31100 11/20/2051 US 190,997.79 $172,732.08
IDEXX LABORATORIES INC US IDXX 69.79 $37,682.95
IMCD NV NL IMCD NA 428.57 $75,432.10
IMPRL 2021-NQM3 1.59500 11/25/2056 US 94,016.19 $78,042.14
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 54,131.44 $56,136.99
INTERCONTINENTALEXCHANGE INC US ICE 3,727.19 $512,228.33
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,912.74 $49,542.83
INTERNATIONAL BUSINESS MACH CORP US IBM 11.84 $2,261.76
INTERNATIONAL FLVRS & FRAGRANCES US IFF 7.26 $624.48
INTUIT INC US INTU 86.85 $56,450.75
INTUITIVE SURGICAL INC US ISRG 967.22 $386,009.56
INVITATION HOMES INC US INVH 2,109.62 $75,123.63
ISHARES BROAD USD HIGH YIELD 2.43400 US 55,656.4 $2,036,467.75
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 42,443.95 $41,709.55
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 19,453,478.55 $128,349.54
JM SMUCKER CO/THE-NEW COM WI US SJM 4.24 $533.38
JOHNSON & JOHNSON US JNJ 5,855.94 $926,351.14
JP MORGAN CHASE & CO US JPM 240.93 $48,257.56
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 26,610.01 $25,503.70
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 355,002.85 $343,348.88
KELLOGG CO US K 8.12 $464.95
KEYENCE CORP JP 6861 JP 116.59 $54,128.86
KEYWORDS STUDIOS PLC IE KWS LN 1,830.56 $30,081.87
KRAFT HEINZ CO/THE US KHC 22.73 $838.74
L'OREAL FR OR FP 24.16 $11,443.05
L3HARRIS TECHNOLOGIES INC US LHX 4,490.55 $956,936.58
LEXINGTON REALTY TRUST US LXP 5,234.52 $47,215.36
LOCKHEED MARTIN CORP US LMT 5.29 $2,404.31
LONZA GROUP AG -REG CH LONN SW 112.08 $66,976.89
LONZA GROUP AG ADR CH LZAGY 2,283.07 $136,778.52
MARATHON OIL CORP US MRO 17.19 $487.16
MARATHON PETROLEUM CORP US MPC 9.85 $1,985.31
MARRIOTT VACATIONS WORLD US VAC 206.68 $22,265.47
MASCO CORP US MAS 4,816.6 $379,933.68
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 72,265.63 $71,902.16
MASTERCARD INC-CLASS A US MA 2,586.51 $1,245,585.32
MEDTRONIC INC IE MDT 4,440.61 $386,998.96
MERCADOLIBRE INC BR MELI 58.46 $88,388.22
MERCK & CO INC US MRK 39.53 $5,216.05
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 72,265.63 $71,744.24
META PLATFORMS INC US META 1,873.3 $909,636.20
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 265,274.71 $14,707.35
MICROCHIP TECHNOLOGY INC US MCHP 13.06 $1,171.35
MICRON TECHNOLOGY INC US MU 9,628.7 $1,135,127.29
MICROSOFT CORP US MSFT 1,505.13 $633,237.61
MID-AMERICA APARTMENT COMM US MAA 133.94 $17,623.84
MONARCH CASINO & RESORT INC US MCRI 381.73 $28,625.74
MONDELEZ INTERNATIONAL INC US MDLZ 4,654.36 $325,805.50
MOODY'S CORPORATION US MCO 1,555.13 $611,212.02
NAVIENT CORP 6.75000 06/25/2025 US 65,551.81 $65,969.94
NESTLE S.A. - ADR CH NSRGY 6,294.45 $668,470.11
NESTLE SA-REGISTERED CH NESN SW 657 $69,805.88
NETAPP INC US NTAP 8.55 $897.49
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 57,008.79 $56,813.01
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 72,265.63 $71,512.00
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 136,535.05 $129,189.20
NORFOLK SOUTHN CORP US NSC 115.22 $29,366.74
NORTHROP GRUMMAN CORP US NOC 978.05 $468,155.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 67,605.61 $0.68
NOVARTIS AG- REG CH NVS 3,688.53 $356,791.42
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 131,852.3 $139,404.23
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 31,652.94 $29,530.72
NRZT 2015-2A A1 3.75000 08/25/2055 US 52,199.85 $48,495.70
NRZT 2016-4A A1 3.75000 11/25/2056 US 102,023.74 $94,721.91
NVIDIA CORP US NVDA 79.54 $71,869.30
OASIS 2023-1A 7.00000 02/15/2035 US 62,672.05 $62,554.10
OMNICOM GROUP US OMC 7.82 $756.30
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 73,734.66 $73,367.90
OXFIN 2020-1A A2 3.10100 02/15/2028 US 39,930.09 $38,787.51
OXFIN 2022-1A 3.60200 02/15/2030 US 172,355.38 $164,663.30
OXFIN 2023-1A A2 6.71600 02/15/2031 US 219,293.76 $221,003.02
OXFINF 2024-A A2 6.67500 01/14/2032 US 22,854.91 $22,715.51
PACKAGING CORP OF AMERICA US PKG 3.64 $690.53
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 273,061.02 $286,391.71
PARAMOUNT GLOBAL CLASS B US PARA 21.41 $252.02
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 110,485.72 $106,728.23
PEAR 2023-1A 7.42000 07/15/2035 US 107,289.25 $108,436.97
PELORUS FUND REIT 7.00000 09/30/2026 US 62,089.68 $60,883.60
PEPSICO INC 3.90000 07/18/2032 US 312,951.42 $296,568.09
PFIZER INC US PFE 73.93 $2,051.42
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 163,930.14 $132,875.35
PFMT 2021-2 A2A 2.00000 04/25/2051 US 94,662.78 $79,294.69
PHILIP MORRIS INTERNATIONAL US PM 8,254.24 $756,253.17
PHILLIPS 66 US PSX 8.42 $1,374.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 27,283.88 $24,751.73
PPG INDUSTRIES INC US PPG 5.9 $854.86
PROLOGIS US PLD 1,538.57 $200,353.13
PUBLIC STORAGE INC US PSA 268.56 $77,899.72
QUALCOMM 5.40000 05/20/2033 US 5,839.73 $6,130.85
QUALCOMM INC US QCOM 21.5 $3,640.32
QUALCOMM INC 4.25000 05/20/2032 US 296,201.23 $285,852.70
QUEST DIAGNOSTICS INC US DGX 4.57 $607.91
RAYTHEON TECHNOLOGIES CORP US RTX 19.2 $1,872.21
RCKT 2021-6 A1 2.50000 12/25/2051 US 174,271.78 $139,775.86
REALTY INCOME CORP US O 689.06 $37,278.02
REGIONS FINANCIAL CORP. US RF 34.13 $717.99
REXFORD INDUSTRIAL REALITY IN US REXR 1,175.8 $59,142.72
S&P GLOBAL INC US SPGI 1,056.47 $449,473.82
SALESFORCE INC US CRM 283.5 $85,383.49
SBA COMMUNICATIONS CORP US SBAC 605.81 $131,278.54
SBA TOWER TRUST 6.59900 01/15/2028 US 208,093.98 $213,280.52
SCHLUMBERGER LTD US SLB 23.99 $1,314.77
SEMT 2013-2 1.87400 02/25/2043 US 18,790.83 $15,868.51
SEMT 2013-6 A2 3.00000 05/25/2043 US 43,082.54 $38,038.12
SEMT 2013-7 A2 3.00000 06/25/2043 US 18,784.98 $16,417.27
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,801.07 $20,223.18
SERVICENOW INC US NOW 491.15 $374,451.55
SIMON PROPERTY 2.25000 01/15/2032 US 132,340.02 $108,324.10
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 369,861.02 $311,951.20
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 136,423.29 $136,213.19
SKYWORKS SOLUTIONS INC US SWKS 5.06 $548.22
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 131,804.39 $115,116.02
SLMA 2008-3 A3 6.62250 10/25/2021 US 245,291.05 $243,457.61
SLMA 2008-4 A4 7.27250 07/25/2022 US 241,657.87 $244,136.80
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,460.56 $83,421.14
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 20,012.72 $19,571.88
SONY CORP FIRST SECTION JP 6758 JP 687.85 $58,983.91
SONY CORP SPONSORED ADR JP SONY 549.67 $47,128.58
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 119,300.93 $111,541.89
SORT 2020-1 A2 1.99000 07/15/2060 US 96,631.51 $83,096.34
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 342,204.37 $302,944.41
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 214,761.33 $152,479.23
SUN COMMUNITIES US SUI 594.45 $76,434.84
SYSCO CORP US SYY 10.21 $829.01
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 8,504.59 $1,157,049.91
TE CONNECTIVITY LIMITED CH TEL 7.11 $1,033.02
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 5,609.22 $76,217.31
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 4,641.27 $315,536.56
TENCENT HOLDINGS 3.97500 04/11/2029 KY 636,214.36 $604,740.58
TENCENT HOLDINGS LTD CN 700 HK 1,650.25 $64,277.10
TERRENO REALTY CORP US TRNO 780.68 $51,836.84
TEXAS INSTRUMENTS INC US TXN 13.66 $2,379.01
THERMO FISHER SCIENTIFIC INC US TMO 562.56 $326,962.77
TPMT 2016-5 A1 2.50000 10/25/2056 US 3,106.76 $3,093.71
TPMT 2017-1 A1 2.75000 10/25/2056 US 739.57 $736.44
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 37,265.42 $37,811.24
TRAVELLERS COS INC US TRV 6.59 $1,516.26
TREASURY BOND 2.37500 02/15/2042 US 3,904,525.26 $2,908,871.32
TRUIST FINANCIAL CORP US TFC 25.26 $984.66
TSY INFL IX N/B 0.12500 01/15/2031 US 1,095,726.84 $976,456.72
TYSON FOODS INC -CL A US TSN 10.51 $617.34
U.S. BANCORP US USB 35.29 $1,577.59
UDR INC US UDR 486.88 $18,214.12
UNION PAC CORP US UNP 1,216.94 $299,282.45
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,618.4 $7,299.39
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 44,060.74 $40,703.20
UNITED PARCEL SERVICE US UPS 13.07 $1,942.89
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 57,963.09 $56,914.77
UNITEDHEALTH GROUP INC US UNH 737.24 $364,712.55
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 44,212.45 $37,654.39
US DOLLAR US 1,626,476.24 $1,626,476.24
US TEASURY NOTE 1.75000 11/15/2029 US 231,987.12 $204,384.28
US TREASURY N/B 0.87500 11/15/2030 US 1,337,083.73 $1,083,455.66
US TREASURY N/B 2.25000 11/15/2025 US 1,266,421.45 $1,216,753.99
US TREASURY N/B 3.12500 11/15/2028 US 135,107.45 $128,763.74
US TREASURY N/B 3.62500 02/15/2053 US 1,356,540.25 $1,193,543.46
US TREASURY N/B 4.12500 11/15/2032 US 2,776,413.69 $2,760,362.55
USRE 2021-1 A1 1.91000 10/20/2061 US 216,641.01 $189,782.90
VALERO ENERGY US VLO 6.71 $1,145.02
VENTAS INC US VTR 580.4 $25,270.73
VERTEX PHARMACEUTICALS INC US VRTX 917.14 $383,373.08
VISA INC - CLASS A SHARES US V 3,362.04 $938,277.45
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 217,545.58 $203,634.74
WELLS FARGO COMPANY US WFC 46.75 $2,709.50
WELLTOWER INC. US WELL 766 $71,574.89
WIN 2015-1 A1 3.50000 01/20/2045 US 11,572.61 $10,469.12

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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