Collective Investment Trust

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

$22.87

Daily $ Change

$0.03

Daily % Change

0.13%

as of 11/30/2023

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 10/31/2023

YTD

2.29%

1 Year

4.90%

3 Year

2.08%

5 Year

6.22%

10 Year

5.52%

Inception
(08/03/2012)

6.52%

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 10/31/2023

TREASURY NOTES 17.80%
GOVERNMENT AGENCY 7.40%
TREASURY BONDS 4.41%
AMAZON.COM INC 2.82%
META PLATFORMS INC 2.20%
MASTERCARD INC-CLASS A 2.12%
ALPHABET INC-CL A 2.05%
MICRON TECHNOLOGY INC 1.84%
JOHNSON & JOHNSON 1.74%
COCA COLA CO/THE 1.70%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2023

Stocks
53.01%
Bonds
44.19%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
13.34%
Small Capitalization
0.46%
Mid Capitalization
5.09%
Large Capitalization
34.12%
Long Term Fixed Income
10.49%
Intermediate Term Fixed Income
33.30%
Short Term Fixed Income
0.40%
Cash
2.80%

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 26.89 $2,445.63
ABBOTT LABORATORIES US ABT 52.15 $4,930.60
ADMIRAL GROUP PLC GB ADM LN 2,836.85 $84,290.54
ADMIRAL GROUP PLC ADR GB AMIGY 10,626.65 $314,442.67
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 126,042.51 $106,319.45
AGREE REALTY CORP US ADC 894.94 $50,063.09
AIR LIQUIDE FR AI FP 258.46 $44,287.39
AIRBUS SE FR AIR FP 319.05 $42,776.68
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 13,252.62 $13,210.79
ALCON INC CH ALC 5,231.57 $373,115.92
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 71,594 $55,027.97
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 290,015.57 $217,747.04
ALPHABET INC-CL A US GOOGL 8,761.46 $1,087,122.46
AMAZON.COM INC US AMZN 11,240.93 $1,496,055.29
AMAZON.COM INC 3.30000 04/13/2027 US 234,939.52 $220,200.46
AMERICAN HOMES 4 RENT- A US AMH 557.38 $18,248.68
AMERICAN TOWER REIT INC US AMT 322.27 $57,426.15
AMERICOLD REALTY TRUST US COLD 1,888.88 $49,526.54
ANALOG DEVICES INC US ADI 24.57 $3,865.27
APARTMENT INCOME REIT CO US AIRC 469.37 $13,710.37
APPLIED MATERIALS INC US AMAT 1,031.92 $136,574.10
ARCHER-DANIELS-MIDLAND CO US ADM 30.03 $2,149.07
ARGO BLOCKCHAIN PLC GB 112.96 $731.96
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 141,549.37 $126,917.81
ASTRAZENECA GB AZN 2,724.62 $172,277.61
ATLASSIAN CORP PLC-CLASS A AU TEAM 174.31 $31,488.13
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 7,117.47 $30,436.31
AUTO TRADER GROUP PLC GB AUTO LN 7,833.24 $59,252.59
AVALONBAY COMMUNITIES INC US AVB 289.34 $47,954.88
AVANZA BANK HOLDING AB SE AZA SS 1,965.85 $33,232.53
BABS 2021-RM2 A 1.75000 10/25/2061 US 94,015.59 $80,373.64
BAE SYSTEMS PLC GB BA/ LN 6,201.86 $83,392.62
BAE SYSTEMS PLC -SPON ADR GB BAESY 5,518.87 $300,723.20
BANK OF AMERICA CORP US BAC 194.85 $5,132.33
BANK OF AMERICA CORP 2.68700 04/22/2032 US 222,172.81 $170,661.09
BAXTER INTERNATIONAL INC US BAX 29.18 $946.32
BEIERSDORF AG DE BEI GR 422.15 $55,521.62
BIOMARIN PHARMACEUTICAL INC US BMRN 5,217.54 $424,969.00
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 105,473.5 $101,628.23
BORR IHC LTD 10.00000 11/15/2028 MUL 50,589.24 $50,465.87
BOSTON SCIENTIFIC CORP US BSX 994.11 $50,888.35
BRISTOL MYERS SQUIBB CO US BMY 78.69 $4,055.04
BROADCOM INC US AVGO 9.57 $8,051.82
BROADRIDGE FINANCIAL SOLUTIONS US BR 8.94 $1,525.92
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 54,542.13 $49,428.29
BUNGE LIMITED US BG 11.64 $1,233.69
C.H. ROBINSON WORLDWIDE INC US CHRW 11.61 $949.99
CAMPBELL SOUP CO US CPB 25.1 $1,014.35
CANADIAN NATIONAL RAILWAY CO CA CNI 2,821.57 $298,465.99
CATERPILLAR INC US CAT 23.85 $5,390.45
CBOE GLOBAL MARKETS INC US CBOE 2,813.56 $461,114.44
CELLNEX TELECOM SA ES CLNX SM 1,391.53 $40,905.63
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,198.55 $105,098.76
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 181,474.2 $176,173.29
CHEVRON CORP US CVX 47.82 $6,968.53
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,084.83 $3,734.93
CISCO SYSTEMS INC US CSCO 141.45 $7,373.58
CITIGROUP INC US C 86.88 $3,430.97
CITIGROUP INC 1.46200 06/09/2027 US 187,951.62 $165,383.04
CLARK CNTY NV 1.51000 11/01/2028 US 10,981.84 $9,126.83
CLEANAWAY WASTE MANAGEMENT AU CWY AU 28,101.76 $40,032.28
COCA COLA CO/THE US KO 15,975.73 $902,469.05
COGNIZANT TECH SOLUTIONS - A US CTSH 23.47 $1,513.10
COLGATE-PALMOLIVE CO US CL 41.29 $3,101.83
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 132,164.29 $120,103.42
COMCAST CORP-CL A US CMCSA 150.45 $6,212.13
COMMUNITY HEALTHCARE TRUST I US CHCT 882.98 $25,315.01
CONAGRA BRAND INC. US CAG 36.96 $1,011.27
CONOCOPHILLIPS US COP 40.54 $4,815.99
CONSTELLATION BRANDS INC-A US STZ 579.59 $135,710.99
COPART INC US CPRT 7,157.74 $311,505.01
CORNING INC US GLW 40.04 $1,071.38
COTERRA ENERGY INC US CTRA 48.45 $1,332.25
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 29,085.4 $23,444.89
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 16,291.24 $13,154.93
CSX CORP US CSX 9,591.81 $286,315.46
CUMMINS INC US CMI 10.29 $2,226.06
CVS HEALTH CORP US CVS 1,056.61 $72,916.63
DEUTSCHE BOERSE AG DE DB1 GR 406.1 $66,842.34
DEUTSCHE BOERSE AG ADR DE DBOEY 16,768.83 $274,673.38
DEVON ENERGY CORPORATION US DVN 33.26 $1,548.88
DIAGEO PLC GB DGE LN 1,278.95 $48,364.63
DIAMONDBACK ENERGY INC US FANG 10.29 $1,649.94
DOLLARAMA INC CA DOL CN 347.16 $23,706.94
DOW INC US DOW 34.58 $1,671.46
DREYFUS GVT CSH MANAGEMENT US 1,530,887.72 $1,530,887.72
EBAY INC US EBAY 31.94 $1,253.06
ELECTRONIC ARTS US EA 6,375.49 $789,222.08
EMERSON ELEC CO US EMR 32.16 $2,861.37
ENDAVA PLC - SPON ADR GB DAVA 433.4 $21,739.14
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 299,958.38 $278,165.40
EOG RESOURCES INC US EOG 23.75 $2,998.71
EQUINIX INC US EQIX 444.44 $324,281.25
EQUITY COMMONWEALTH US EQC 1,931.68 $36,585.93
EQUITY LIFESTYLE PROPERTIES US ELS 787.97 $51,848.69
EVERGY INC US EVRG 5,802.05 $285,112.88
EXTRA SPACE STORAGE INC US EXR 417.57 $43,255.70
EXXON MOBIL CORP US XOM 76.87 $8,136.99
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,776.89 $2,823.97
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 66.54 $66.04
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 10,113.7 $9,395.55
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 189,104.91 $188,306.83
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 128,615.11 $107,497.94
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 294,721.28 $255,131.76
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 175,831.78 $149,767.26
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,120.08 $14,531.05
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 186,974.71 $165,424.21
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,110.19 $32,727.17
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 200,149.18 $166,881.89
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 195,729.38 $169,589.20
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 187,205.64 $152,119.11
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 192,396.81 $177,385.30
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 190,880.47 $158,155.05
FEDEX CORPORATION US FDX 9.16 $2,199.79
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 41,406.65 $37,834.28
FHLM POOL C91780 4.50000 07/01/2034 US 47,957.44 $46,118.49
FHLM POOL G05906 6.00000 04/01/2040 US 5,784.84 $5,898.76
FHLM POOL K91364 4.50000 11/01/2033 US 6,134.63 $5,928.01
FHLM POOL K92059 4.50000 09/01/2034 US 33,066.23 $31,794.08
FHLM POOL SD8230 4.50000 06/01/2052 US 129,913.9 $116,105.42
FIFTH THIRD BANCORP US FITB 47.32 $1,121.86
FINECOBANK SPA IT FBK IM 4,496.78 $53,046.94
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,484.42 $21,820.99
FLX 2021-1A A2 3.25000 11/27/2051 US 178,810.5 $154,775.42
FMC CORP US FMC 10,330.87 $549,602.24
FN DS2696 3.00000 12/01/2051 US 229,990.45 $186,577.95
FN FS4339 MTGE 3.00000 12/01/2050 US 307,990.32 $251,844.45
FN MA4733 4.50000 09/01/2052 US 224,945.49 $201,036.15
FN MA4807 MTGE 5.50000 11/01/2052 US 157,091.43 $149,291.16
FN MA4868 MTGE 5.00000 01/01/2053 US 286,416.19 $264,068.94
FN MA4934 MTGE 5.00000 02/01/2043 US 286,588.31 $268,352.90
FNR 2018-31 KP 3.50000 07/25/2047 US 2,395.24 $2,307.88
FR QG6308 MTG 6.00000 07/01/2053 US 443,974.19 $432,791.38
FR SD1129 4.00000 08/01/2051 US 209,199.35 $184,113.80
FREMF 2015-K43 B FLT 3.73151 02/25/2048 US 326,523.53 $314,699.97
GENERAL DYNAMICS CORP US GD 14.5 $3,498.04
GENERAL MLS INC US GIS 34.14 $2,227.15
GENUINE PARTS CO US GPC 10.86 $1,398.95
GETTY REALTY CORP US GTY 646.97 $17,222.32
GILEAD SCIENCES INC US GILD 58.05 $4,559.00
GLOBANT SA LU GLOB 141.1 $24,028.13
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 33,979.07 $29,867.30
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 30,504.85 $26,793.19
GREENIDGE GEN HLD INC US 1,288.38 $7,820.50
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 91,091.89 $73,747.60
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 74,787.13 $61,309.84
HALLIBURTON CO US HAL 42.55 $1,673.79
HALMA PLC GB HLMA LN 1,364.63 $30,688.21
HARTFORD FINL SVCS US HIG 15.78 $1,159.22
HAWAII ST 2.68200 10/01/2038 US 15,548.74 $10,552.64
HDFC BANK LTD-ADR IN HDB 2,652.88 $150,020.48
HEINEKEN NV NL HEIA NA 716.91 $64,409.95
HEINEKEN NV-SPN ADR NL HEINY 13,200.96 $594,043.17
HELIOS TOWERS PLC GB HTWS LN 14,034.39 $10,328.68
HOME DEPOT INC US HD 31.53 $8,977.29
HONEYWELL INTERNATIONAL INC US HON 28.18 $5,163.58
HUMANA INC US HUM 240.19 $125,784.30
HUNTINGTON BANCSHARES US HBAN 79.79 $769.98
HWIRE 2021-1 A2 2.31100 11/20/2051 US 167,926.39 $146,757.30
IDEXX LABORATORIES INC US IDXX 944.36 $377,241.85
IMCD NV NL IMCD NA 261.52 $31,485.58
IMPRL 2021-NQM3 1.59500 11/25/2056 US 87,268.22 $66,900.42
INTERCONTINENTALEXCHANGE INC US ICE 3,002.06 $322,540.91
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,388.67 $22,109.06
INTERNATIONAL BUSINESS MACH CORP US IBM 27.17 $3,930.19
INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.22 $1,040.13
INTUIT INC US INTU 181.98 $90,073.34
INTUITIVE SURGICAL INC US ISRG 1,104.09 $289,513.29
INVITATION HOMES INC US INVH 1,712.37 $50,840.18
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,316.97 $36,060.27
JM SMUCKER CO/THE-NEW COM WI US SJM 8.88 $1,010.85
JOHNSON & JOHNSON US JNJ 6,221.36 $922,876.17
JP MORGAN CHASE & CO US JPM 567.6 $78,931.02
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 26,420.94 $24,591.02
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 318,317.06 $287,558.59
KELLOGG CO US K 17.01 $858.30
KEYENCE CORP JP 6861 JP 96.57 $37,383.94
KEYWORDS STUDIOS PLC IE KWS LN 1,470.13 $23,344.09
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 14,125.04 $25,885.60
KRAFT HEINZ CO/THE US KHC 47.63 $1,498.43
L'OREAL FR OR FP 28.53 $11,992.14
L3HARRIS TECHNOLOGIES INC US LHX 4,565.6 $819,113.79
LEXINGTON REALTY TRUST US LXP 3,009.43 $23,804.62
LOCKHEED MARTIN CORP US LMT 11.08 $5,035.58
LONZA GROUP AG -REG CH LONN SW 67.69 $23,704.87
LULULEMON - ADR CA LULU 319.92 $125,881.67
MARATHON OIL CORP US MRO 36.02 $983.72
MARATHON PETROLEUM CORP US MPC 22.25 $3,364.72
MARRIOTT VACATIONS WORLD US VAC 129.08 $11,598.73
MASCO CORP US MAS 11,831.78 $616,317.64
MASTERCARD INC-CLASS A US MA 2,995.19 $1,127,238.08
MEDTRONIC INC IE MDT 8,579.27 $605,353.40
MERCADOLIBRE INC BR MELI 79.48 $98,614.41
MERCK & CO INC US MRK 82.83 $8,507.10
META PLATFORMS INC US META 3,884.08 $1,170,157.76
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 233,231.09 $11,270.58
MICROCHIP TECHNOLOGY INC US MCHP 27.36 $1,950.53
MICRON TECHNOLOGY INC US MU 14,602.81 $976,489.95
MICROSOFT CORP US MSFT 1,624.07 $549,112.64
MID-AMERICA APARTMENT COMM US MAA 201.86 $23,849.49
MONARCH CASINO & RESORT INC US MCRI 361.53 $21,760.63
MONDELEZ INTERNATIONAL INC US MDLZ 5,194.54 $343,930.32
MOODY'S CORPORATION US MCO 2,059.4 $634,295.75
NAVIENT CORP 6.75000 06/25/2025 US 61,002.71 $59,563.05
NESTLE S.A. - ADR CH NSRGY 6,443.75 $694,378.87
NESTLE SA-REGISTERED CH NESN SW 723.19 $77,988.24
NETAPP INC US NTAP 17.92 $1,303.93
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 125,328.07 $112,826.15
NIKE INC CLASS B US NKE 3,458.95 $355,476.14
NORFOLK SOUTHN CORP US NSC 241.44 $46,065.01
NORTHROP GRUMMAN CORP US NOC 1,084.89 $511,450.78
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 62,079.95 $6.21
NOVARTIS AG- REG CH NVS 3,769.28 $352,728.99
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 118,867.75 $117,887.52
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 30,023.84 $26,694.50
NRZT 2015-2A A1 3.75000 08/25/2055 US 49,772.52 $44,968.46
NRZT 2016-4A A1 3.75000 11/25/2056 US 96,860.95 $87,159.39
OASIS 2023-1A 7.00000 02/15/2035 US 75,610.95 $75,233.69
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 6,275.34 $6,324.67
OMNICOM GROUP US OMC 16.38 $1,226.92
OXFIN 2020-1A A2 3.10100 02/15/2028 US 49,228.13 $47,550.79
OXFIN 2022-1A 3.60200 02/15/2030 US 151,600.21 $143,192.40
OXFIN 2023-1A A2 6.71600 02/15/2031 US 192,804.37 $189,048.15
PACKAGING CORP OF AMERICA US PKG 7.62 $1,166.93
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 249,546.96 $249,585.07
PARAMOUNT GLOBAL CLASS B US PARA 44.87 $488.17
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 117,112.6 $111,720.70
PEAR 2023-1A 7.42000 07/15/2035 US 102,887.75 $101,646.01
PELORUS FUND REIT 7.00000 09/30/2026 US 58,049.85 $54,689.36
PEPSICO INC 3.90000 07/18/2032 US 253,284.24 $224,815.28
PFIZER INC US PFE 154.91 $4,733.95
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 146,827.99 $107,523.93
PFMT 2021-2 A2A 2.00000 04/25/2051 US 85,427.84 $68,832.32
PHILLIPS 66 US PSX 17.63 $2,011.48
PHYSICIANS REALTY TRUST US DOC 1,533.71 $16,656.11
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 24,943.05 $21,838.93
PPG INDUSTRIES INC US PPG 12.36 $1,517.73
PROLOGIS US PLD 1,571.34 $158,312.58
PUBLIC STORAGE INC US PSA 256.09 $61,131.27
QUALCOMM 5.40000 05/20/2033 US 12,236.9 $11,965.81
QUALCOMM INC US QCOM 45.06 $4,910.75
QUEST DIAGNOSTICS INC US DGX 9.57 $1,245.04
RAYTHEON TECHNOLOGIES CORP US RTX 48.19 $3,922.56
RCKT 2021-6 A1 2.50000 12/25/2051 US 155,612.29 $113,150.54
REALTY INCOME CORP US O 594.99 $28,190.57
REGIONS FINANCIAL CORP. US RF 71.51 $1,039.00
RENAISSANCERE HOLDINGS LTD BM RNR 256 $56,214.51
RENTOKIL INITIAL PLC GB RTO LN 8,396.7 $42,760.14
RENTOKIL INITIAL PLC-SP ADR GB RTO 8,443.13 $216,059.68
REXFORD INDUSTRIAL REALITY IN US REXR 745.42 $32,232.08
S&P GLOBAL INC US SPGI 833.3 $291,080.44
SALESFORCE INC US CRM 1,984.68 $398,583.40
SBA COMMUNICATIONS CORP US SBAC 919.3 $191,794.17
SBA TOWER TRUST 6.59900 01/15/2028 US 188,694.16 $188,329.94
SCHLUMBERGER LTD NL SLB 50.27 $2,797.77
SEMT 2013-2 1.87400 02/25/2043 US 17,187.59 $13,918.97
SEMT 2013-6 A2 3.00000 05/25/2043 US 39,887.37 $33,936.99
SEMT 2013-7 A2 3.00000 06/25/2043 US 17,057.32 $14,612.41
SEMT 2013-8 A1 3.00000 06/25/2043 US 20,790.03 $17,725.69
SERVICENOW INC US NOW 1,306.04 $759,919.83
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 448,382.7 $341,864.33
SKYWORKS SOLUTIONS INC US SWKS 10.61 $919.91
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 119,535.6 $101,686.54
SMB 2020-BA A1A 1.29000 07/15/2053 US 89,269.74 $78,870.92
SNOWFLAKE INC-CLASS A US SNOW 1,013.34 $147,066.20
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 22,314.59 $21,562.35
SONY CORP FIRST SECTION JP 6758 JP 514.09 $42,740.50
SONY CORP SPONSORED ADR JP SONY 1,151.81 $95,657.52
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 104,890.09 $95,126.16
SORT 2020-1 A2 1.99000 07/15/2060 US 85,136.22 $70,950.82
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 300,868.11 $252,002.98
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 188,819.43 $133,593.50
STAG INDUSTRIAL INC US STAG 495.12 $16,447.84
SUN COMMUNITIES US SUI 602.99 $67,076.91
SYNCHRONOSS TECH US 1,266.21 $21,588.82
SYSCO CORP US SYY 21.4 $1,422.81
TAH 2017-SFR2 A 2.92800 01/17/2036 US 87,281.05 $86,579.91
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,635.49 $486,398.98
TE CONNECTIVITY LIMITED CH TEL 16.1 $1,896.94
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,302.2 $30,147.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 479,835.83 $431,227.18
TENCENT HOLDINGS LTD CN 700 HK 1,651.24 $61,110.25
TERRENO REALTY CORP US TRNO 606.57 $32,317.92
TEXAS INSTRUMENTS INC US TXN 28.62 $4,063.69
THERMO FISHER SCIENTIFIC INC US TMO 636.34 $283,026.67
TPMT 2016-5 A1 2.50000 10/25/2056 US 16,312.56 $16,114.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 6,142.29 $6,082.16
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 36,647.66 $36,601.24
TRAVELLERS COS INC US TRV 13.81 $2,311.63
TREASURY BOND 2.37500 02/15/2042 US 3,530,276.59 $2,344,324.30
TREASURY NOTE 2.25000 11/15/2027 US 1,438,258.4 $1,301,623.85
TRUIST FINANCIAL CORP US TFC 52.93 $1,501.16
TSY INFL IX N/B 0.12500 01/15/2031 US 1,004,555.79 $849,269.68
TYSON FOODS INC -CL A US TSN 22.03 $1,020.92
U.S. BANCORP US USB 73.95 $2,357.68
UDR INC US UDR 951.38 $30,263.50
UNILEVER PLC - ADR GB UL 13,812.93 $654,042.39
UNION PAC CORP US UNP 1,451.71 $301,388.55
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,692.79 $7,103.84
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 46,023.11 $40,754.97
UNITED PARCEL SERVICE US UPS 27.39 $3,869.10
UNITEDHEALTH GROUP INC US UNH 88.7 $47,505.17
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 38,871.85 $34,674.32
US TEASURY NOTE 1.75000 11/15/2029 US 2,554,086.23 $2,146,629.66
US TREASURY N/B 0.87500 11/15/2030 US 3,119,248.62 $2,388,174.72
US TREASURY N/B 1.37500 11/15/2031 US 1,580,529.36 $1,215,772.82
US TREASURY N/B 3.12500 11/15/2028 US 1,735,424.11 $1,601,199.90
US TREASURY N/B 4.12500 11/15/2032 US 848,494.71 $801,297.19
USRE 2021-1 A1 1.91000 10/20/2061 US 190,472.06 $162,867.15
VALERO ENERGY US VLO 14.06 $1,785.21
VENTAS INC US VTR 737.05 $31,295.00
VERTEX PHARMACEUTICALS INC US VRTX 1,146.99 $415,336.41
VISA INC - CLASS A SHARES US V 3,598.34 $845,970.27
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 195,725.99 $173,274.40
WELLS FARGO COMPANY US WFC 104.42 $4,152.85
WELLTOWER INC. US WELL 543.36 $45,430.04
WIN 2015-1 A1 3.50000 01/20/2045 US 10,324.41 $8,848.49

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

$22.87

Daily $ Change

$0.03

Daily % Change

0.13%

as of 11/30/2023

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 10/31/2023

YTD

2.29%

1 Year

4.90%

3 Year

2.08%

5 Year

6.22%

10 Year

5.52%

Inception
(08/03/2012)

6.52%

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 10/31/2023

TREASURY NOTES 17.80%
GOVERNMENT AGENCY 7.40%
TREASURY BONDS 4.41%
AMAZON.COM INC 2.82%
META PLATFORMS INC 2.20%
MASTERCARD INC-CLASS A 2.12%
ALPHABET INC-CL A 2.05%
MICRON TECHNOLOGY INC 1.84%
JOHNSON & JOHNSON 1.74%
COCA COLA CO/THE 1.70%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2023

Stocks
53.01%
Bonds
44.19%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
13.34%
Small Capitalization
0.46%
Mid Capitalization
5.09%
Large Capitalization
34.12%
Long Term Fixed Income
10.49%
Intermediate Term Fixed Income
33.30%
Short Term Fixed Income
0.40%
Cash
2.80%

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 26.89 $2,445.63
ABBOTT LABORATORIES US ABT 52.15 $4,930.60
ADMIRAL GROUP PLC GB ADM LN 2,836.85 $84,290.54
ADMIRAL GROUP PLC ADR GB AMIGY 10,626.65 $314,442.67
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 126,042.51 $106,319.45
AGREE REALTY CORP US ADC 894.94 $50,063.09
AIR LIQUIDE FR AI FP 258.46 $44,287.39
AIRBUS SE FR AIR FP 319.05 $42,776.68
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 13,252.62 $13,210.79
ALCON INC CH ALC 5,231.57 $373,115.92
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 71,594 $55,027.97
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 290,015.57 $217,747.04
ALPHABET INC-CL A US GOOGL 8,761.46 $1,087,122.46
AMAZON.COM INC US AMZN 11,240.93 $1,496,055.29
AMAZON.COM INC 3.30000 04/13/2027 US 234,939.52 $220,200.46
AMERICAN HOMES 4 RENT- A US AMH 557.38 $18,248.68
AMERICAN TOWER REIT INC US AMT 322.27 $57,426.15
AMERICOLD REALTY TRUST US COLD 1,888.88 $49,526.54
ANALOG DEVICES INC US ADI 24.57 $3,865.27
APARTMENT INCOME REIT CO US AIRC 469.37 $13,710.37
APPLIED MATERIALS INC US AMAT 1,031.92 $136,574.10
ARCHER-DANIELS-MIDLAND CO US ADM 30.03 $2,149.07
ARGO BLOCKCHAIN PLC GB 112.96 $731.96
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 141,549.37 $126,917.81
ASTRAZENECA GB AZN 2,724.62 $172,277.61
ATLASSIAN CORP PLC-CLASS A AU TEAM 174.31 $31,488.13
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 7,117.47 $30,436.31
AUTO TRADER GROUP PLC GB AUTO LN 7,833.24 $59,252.59
AVALONBAY COMMUNITIES INC US AVB 289.34 $47,954.88
AVANZA BANK HOLDING AB SE AZA SS 1,965.85 $33,232.53
BABS 2021-RM2 A 1.75000 10/25/2061 US 94,015.59 $80,373.64
BAE SYSTEMS PLC GB BA/ LN 6,201.86 $83,392.62
BAE SYSTEMS PLC -SPON ADR GB BAESY 5,518.87 $300,723.20
BANK OF AMERICA CORP US BAC 194.85 $5,132.33
BANK OF AMERICA CORP 2.68700 04/22/2032 US 222,172.81 $170,661.09
BAXTER INTERNATIONAL INC US BAX 29.18 $946.32
BEIERSDORF AG DE BEI GR 422.15 $55,521.62
BIOMARIN PHARMACEUTICAL INC US BMRN 5,217.54 $424,969.00
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 105,473.5 $101,628.23
BORR IHC LTD 10.00000 11/15/2028 MUL 50,589.24 $50,465.87
BOSTON SCIENTIFIC CORP US BSX 994.11 $50,888.35
BRISTOL MYERS SQUIBB CO US BMY 78.69 $4,055.04
BROADCOM INC US AVGO 9.57 $8,051.82
BROADRIDGE FINANCIAL SOLUTIONS US BR 8.94 $1,525.92
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 54,542.13 $49,428.29
BUNGE LIMITED US BG 11.64 $1,233.69
C.H. ROBINSON WORLDWIDE INC US CHRW 11.61 $949.99
CAMPBELL SOUP CO US CPB 25.1 $1,014.35
CANADIAN NATIONAL RAILWAY CO CA CNI 2,821.57 $298,465.99
CATERPILLAR INC US CAT 23.85 $5,390.45
CBOE GLOBAL MARKETS INC US CBOE 2,813.56 $461,114.44
CELLNEX TELECOM SA ES CLNX SM 1,391.53 $40,905.63
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 7,198.55 $105,098.76
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 181,474.2 $176,173.29
CHEVRON CORP US CVX 47.82 $6,968.53
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,084.83 $3,734.93
CISCO SYSTEMS INC US CSCO 141.45 $7,373.58
CITIGROUP INC US C 86.88 $3,430.97
CITIGROUP INC 1.46200 06/09/2027 US 187,951.62 $165,383.04
CLARK CNTY NV 1.51000 11/01/2028 US 10,981.84 $9,126.83
CLEANAWAY WASTE MANAGEMENT AU CWY AU 28,101.76 $40,032.28
COCA COLA CO/THE US KO 15,975.73 $902,469.05
COGNIZANT TECH SOLUTIONS - A US CTSH 23.47 $1,513.10
COLGATE-PALMOLIVE CO US CL 41.29 $3,101.83
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 132,164.29 $120,103.42
COMCAST CORP-CL A US CMCSA 150.45 $6,212.13
COMMUNITY HEALTHCARE TRUST I US CHCT 882.98 $25,315.01
CONAGRA BRAND INC. US CAG 36.96 $1,011.27
CONOCOPHILLIPS US COP 40.54 $4,815.99
CONSTELLATION BRANDS INC-A US STZ 579.59 $135,710.99
COPART INC US CPRT 7,157.74 $311,505.01
CORNING INC US GLW 40.04 $1,071.38
COTERRA ENERGY INC US CTRA 48.45 $1,332.25
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 29,085.4 $23,444.89
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 16,291.24 $13,154.93
CSX CORP US CSX 9,591.81 $286,315.46
CUMMINS INC US CMI 10.29 $2,226.06
CVS HEALTH CORP US CVS 1,056.61 $72,916.63
DEUTSCHE BOERSE AG DE DB1 GR 406.1 $66,842.34
DEUTSCHE BOERSE AG ADR DE DBOEY 16,768.83 $274,673.38
DEVON ENERGY CORPORATION US DVN 33.26 $1,548.88
DIAGEO PLC GB DGE LN 1,278.95 $48,364.63
DIAMONDBACK ENERGY INC US FANG 10.29 $1,649.94
DOLLARAMA INC CA DOL CN 347.16 $23,706.94
DOW INC US DOW 34.58 $1,671.46
DREYFUS GVT CSH MANAGEMENT US 1,530,887.72 $1,530,887.72
EBAY INC US EBAY 31.94 $1,253.06
ELECTRONIC ARTS US EA 6,375.49 $789,222.08
EMERSON ELEC CO US EMR 32.16 $2,861.37
ENDAVA PLC - SPON ADR GB DAVA 433.4 $21,739.14
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 299,958.38 $278,165.40
EOG RESOURCES INC US EOG 23.75 $2,998.71
EQUINIX INC US EQIX 444.44 $324,281.25
EQUITY COMMONWEALTH US EQC 1,931.68 $36,585.93
EQUITY LIFESTYLE PROPERTIES US ELS 787.97 $51,848.69
EVERGY INC US EVRG 5,802.05 $285,112.88
EXTRA SPACE STORAGE INC US EXR 417.57 $43,255.70
EXXON MOBIL CORP US XOM 76.87 $8,136.99
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,776.89 $2,823.97
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 66.54 $66.04
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 10,113.7 $9,395.55
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 189,104.91 $188,306.83
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 128,615.11 $107,497.94
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 294,721.28 $255,131.76
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 175,831.78 $149,767.26
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,120.08 $14,531.05
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 186,974.71 $165,424.21
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,110.19 $32,727.17
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 200,149.18 $166,881.89
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 195,729.38 $169,589.20
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 187,205.64 $152,119.11
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 192,396.81 $177,385.30
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 190,880.47 $158,155.05
FEDEX CORPORATION US FDX 9.16 $2,199.79
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 41,406.65 $37,834.28
FHLM POOL C91780 4.50000 07/01/2034 US 47,957.44 $46,118.49
FHLM POOL G05906 6.00000 04/01/2040 US 5,784.84 $5,898.76
FHLM POOL K91364 4.50000 11/01/2033 US 6,134.63 $5,928.01
FHLM POOL K92059 4.50000 09/01/2034 US 33,066.23 $31,794.08
FHLM POOL SD8230 4.50000 06/01/2052 US 129,913.9 $116,105.42
FIFTH THIRD BANCORP US FITB 47.32 $1,121.86
FINECOBANK SPA IT FBK IM 4,496.78 $53,046.94
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,484.42 $21,820.99
FLX 2021-1A A2 3.25000 11/27/2051 US 178,810.5 $154,775.42
FMC CORP US FMC 10,330.87 $549,602.24
FN DS2696 3.00000 12/01/2051 US 229,990.45 $186,577.95
FN FS4339 MTGE 3.00000 12/01/2050 US 307,990.32 $251,844.45
FN MA4733 4.50000 09/01/2052 US 224,945.49 $201,036.15
FN MA4807 MTGE 5.50000 11/01/2052 US 157,091.43 $149,291.16
FN MA4868 MTGE 5.00000 01/01/2053 US 286,416.19 $264,068.94
FN MA4934 MTGE 5.00000 02/01/2043 US 286,588.31 $268,352.90
FNR 2018-31 KP 3.50000 07/25/2047 US 2,395.24 $2,307.88
FR QG6308 MTG 6.00000 07/01/2053 US 443,974.19 $432,791.38
FR SD1129 4.00000 08/01/2051 US 209,199.35 $184,113.80
FREMF 2015-K43 B FLT 3.73151 02/25/2048 US 326,523.53 $314,699.97
GENERAL DYNAMICS CORP US GD 14.5 $3,498.04
GENERAL MLS INC US GIS 34.14 $2,227.15
GENUINE PARTS CO US GPC 10.86 $1,398.95
GETTY REALTY CORP US GTY 646.97 $17,222.32
GILEAD SCIENCES INC US GILD 58.05 $4,559.00
GLOBANT SA LU GLOB 141.1 $24,028.13
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 33,979.07 $29,867.30
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 30,504.85 $26,793.19
GREENIDGE GEN HLD INC US 1,288.38 $7,820.50
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 91,091.89 $73,747.60
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 74,787.13 $61,309.84
HALLIBURTON CO US HAL 42.55 $1,673.79
HALMA PLC GB HLMA LN 1,364.63 $30,688.21
HARTFORD FINL SVCS US HIG 15.78 $1,159.22
HAWAII ST 2.68200 10/01/2038 US 15,548.74 $10,552.64
HDFC BANK LTD-ADR IN HDB 2,652.88 $150,020.48
HEINEKEN NV NL HEIA NA 716.91 $64,409.95
HEINEKEN NV-SPN ADR NL HEINY 13,200.96 $594,043.17
HELIOS TOWERS PLC GB HTWS LN 14,034.39 $10,328.68
HOME DEPOT INC US HD 31.53 $8,977.29
HONEYWELL INTERNATIONAL INC US HON 28.18 $5,163.58
HUMANA INC US HUM 240.19 $125,784.30
HUNTINGTON BANCSHARES US HBAN 79.79 $769.98
HWIRE 2021-1 A2 2.31100 11/20/2051 US 167,926.39 $146,757.30
IDEXX LABORATORIES INC US IDXX 944.36 $377,241.85
IMCD NV NL IMCD NA 261.52 $31,485.58
IMPRL 2021-NQM3 1.59500 11/25/2056 US 87,268.22 $66,900.42
INTERCONTINENTALEXCHANGE INC US ICE 3,002.06 $322,540.91
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,388.67 $22,109.06
INTERNATIONAL BUSINESS MACH CORP US IBM 27.17 $3,930.19
INTERNATIONAL FLVRS & FRAGRANCES US IFF 15.22 $1,040.13
INTUIT INC US INTU 181.98 $90,073.34
INTUITIVE SURGICAL INC US ISRG 1,104.09 $289,513.29
INVITATION HOMES INC US INVH 1,712.37 $50,840.18
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,316.97 $36,060.27
JM SMUCKER CO/THE-NEW COM WI US SJM 8.88 $1,010.85
JOHNSON & JOHNSON US JNJ 6,221.36 $922,876.17
JP MORGAN CHASE & CO US JPM 567.6 $78,931.02
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 26,420.94 $24,591.02
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 318,317.06 $287,558.59
KELLOGG CO US K 17.01 $858.30
KEYENCE CORP JP 6861 JP 96.57 $37,383.94
KEYWORDS STUDIOS PLC IE KWS LN 1,470.13 $23,344.09
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 14,125.04 $25,885.60
KRAFT HEINZ CO/THE US KHC 47.63 $1,498.43
L'OREAL FR OR FP 28.53 $11,992.14
L3HARRIS TECHNOLOGIES INC US LHX 4,565.6 $819,113.79
LEXINGTON REALTY TRUST US LXP 3,009.43 $23,804.62
LOCKHEED MARTIN CORP US LMT 11.08 $5,035.58
LONZA GROUP AG -REG CH LONN SW 67.69 $23,704.87
LULULEMON - ADR CA LULU 319.92 $125,881.67
MARATHON OIL CORP US MRO 36.02 $983.72
MARATHON PETROLEUM CORP US MPC 22.25 $3,364.72
MARRIOTT VACATIONS WORLD US VAC 129.08 $11,598.73
MASCO CORP US MAS 11,831.78 $616,317.64
MASTERCARD INC-CLASS A US MA 2,995.19 $1,127,238.08
MEDTRONIC INC IE MDT 8,579.27 $605,353.40
MERCADOLIBRE INC BR MELI 79.48 $98,614.41
MERCK & CO INC US MRK 82.83 $8,507.10
META PLATFORMS INC US META 3,884.08 $1,170,157.76
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 233,231.09 $11,270.58
MICROCHIP TECHNOLOGY INC US MCHP 27.36 $1,950.53
MICRON TECHNOLOGY INC US MU 14,602.81 $976,489.95
MICROSOFT CORP US MSFT 1,624.07 $549,112.64
MID-AMERICA APARTMENT COMM US MAA 201.86 $23,849.49
MONARCH CASINO & RESORT INC US MCRI 361.53 $21,760.63
MONDELEZ INTERNATIONAL INC US MDLZ 5,194.54 $343,930.32
MOODY'S CORPORATION US MCO 2,059.4 $634,295.75
NAVIENT CORP 6.75000 06/25/2025 US 61,002.71 $59,563.05
NESTLE S.A. - ADR CH NSRGY 6,443.75 $694,378.87
NESTLE SA-REGISTERED CH NESN SW 723.19 $77,988.24
NETAPP INC US NTAP 17.92 $1,303.93
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 125,328.07 $112,826.15
NIKE INC CLASS B US NKE 3,458.95 $355,476.14
NORFOLK SOUTHN CORP US NSC 241.44 $46,065.01
NORTHROP GRUMMAN CORP US NOC 1,084.89 $511,450.78
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 62,079.95 $6.21
NOVARTIS AG- REG CH NVS 3,769.28 $352,728.99
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 118,867.75 $117,887.52
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 30,023.84 $26,694.50
NRZT 2015-2A A1 3.75000 08/25/2055 US 49,772.52 $44,968.46
NRZT 2016-4A A1 3.75000 11/25/2056 US 96,860.95 $87,159.39
OASIS 2023-1A 7.00000 02/15/2035 US 75,610.95 $75,233.69
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 6,275.34 $6,324.67
OMNICOM GROUP US OMC 16.38 $1,226.92
OXFIN 2020-1A A2 3.10100 02/15/2028 US 49,228.13 $47,550.79
OXFIN 2022-1A 3.60200 02/15/2030 US 151,600.21 $143,192.40
OXFIN 2023-1A A2 6.71600 02/15/2031 US 192,804.37 $189,048.15
PACKAGING CORP OF AMERICA US PKG 7.62 $1,166.93
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 249,546.96 $249,585.07
PARAMOUNT GLOBAL CLASS B US PARA 44.87 $488.17
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 117,112.6 $111,720.70
PEAR 2023-1A 7.42000 07/15/2035 US 102,887.75 $101,646.01
PELORUS FUND REIT 7.00000 09/30/2026 US 58,049.85 $54,689.36
PEPSICO INC 3.90000 07/18/2032 US 253,284.24 $224,815.28
PFIZER INC US PFE 154.91 $4,733.95
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 146,827.99 $107,523.93
PFMT 2021-2 A2A 2.00000 04/25/2051 US 85,427.84 $68,832.32
PHILLIPS 66 US PSX 17.63 $2,011.48
PHYSICIANS REALTY TRUST US DOC 1,533.71 $16,656.11
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 24,943.05 $21,838.93
PPG INDUSTRIES INC US PPG 12.36 $1,517.73
PROLOGIS US PLD 1,571.34 $158,312.58
PUBLIC STORAGE INC US PSA 256.09 $61,131.27
QUALCOMM 5.40000 05/20/2033 US 12,236.9 $11,965.81
QUALCOMM INC US QCOM 45.06 $4,910.75
QUEST DIAGNOSTICS INC US DGX 9.57 $1,245.04
RAYTHEON TECHNOLOGIES CORP US RTX 48.19 $3,922.56
RCKT 2021-6 A1 2.50000 12/25/2051 US 155,612.29 $113,150.54
REALTY INCOME CORP US O 594.99 $28,190.57
REGIONS FINANCIAL CORP. US RF 71.51 $1,039.00
RENAISSANCERE HOLDINGS LTD BM RNR 256 $56,214.51
RENTOKIL INITIAL PLC GB RTO LN 8,396.7 $42,760.14
RENTOKIL INITIAL PLC-SP ADR GB RTO 8,443.13 $216,059.68
REXFORD INDUSTRIAL REALITY IN US REXR 745.42 $32,232.08
S&P GLOBAL INC US SPGI 833.3 $291,080.44
SALESFORCE INC US CRM 1,984.68 $398,583.40
SBA COMMUNICATIONS CORP US SBAC 919.3 $191,794.17
SBA TOWER TRUST 6.59900 01/15/2028 US 188,694.16 $188,329.94
SCHLUMBERGER LTD NL SLB 50.27 $2,797.77
SEMT 2013-2 1.87400 02/25/2043 US 17,187.59 $13,918.97
SEMT 2013-6 A2 3.00000 05/25/2043 US 39,887.37 $33,936.99
SEMT 2013-7 A2 3.00000 06/25/2043 US 17,057.32 $14,612.41
SEMT 2013-8 A1 3.00000 06/25/2043 US 20,790.03 $17,725.69
SERVICENOW INC US NOW 1,306.04 $759,919.83
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 448,382.7 $341,864.33
SKYWORKS SOLUTIONS INC US SWKS 10.61 $919.91
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 119,535.6 $101,686.54
SMB 2020-BA A1A 1.29000 07/15/2053 US 89,269.74 $78,870.92
SNOWFLAKE INC-CLASS A US SNOW 1,013.34 $147,066.20
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 22,314.59 $21,562.35
SONY CORP FIRST SECTION JP 6758 JP 514.09 $42,740.50
SONY CORP SPONSORED ADR JP SONY 1,151.81 $95,657.52
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 104,890.09 $95,126.16
SORT 2020-1 A2 1.99000 07/15/2060 US 85,136.22 $70,950.82
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 300,868.11 $252,002.98
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 188,819.43 $133,593.50
STAG INDUSTRIAL INC US STAG 495.12 $16,447.84
SUN COMMUNITIES US SUI 602.99 $67,076.91
SYNCHRONOSS TECH US 1,266.21 $21,588.82
SYSCO CORP US SYY 21.4 $1,422.81
TAH 2017-SFR2 A 2.92800 01/17/2036 US 87,281.05 $86,579.91
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,635.49 $486,398.98
TE CONNECTIVITY LIMITED CH TEL 16.1 $1,896.94
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,302.2 $30,147.48
TENCENT HOLDINGS 3.97500 04/11/2029 KY 479,835.83 $431,227.18
TENCENT HOLDINGS LTD CN 700 HK 1,651.24 $61,110.25
TERRENO REALTY CORP US TRNO 606.57 $32,317.92
TEXAS INSTRUMENTS INC US TXN 28.62 $4,063.69
THERMO FISHER SCIENTIFIC INC US TMO 636.34 $283,026.67
TPMT 2016-5 A1 2.50000 10/25/2056 US 16,312.56 $16,114.01
TPMT 2017-1 A1 2.75000 10/25/2056 US 6,142.29 $6,082.16
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 36,647.66 $36,601.24
TRAVELLERS COS INC US TRV 13.81 $2,311.63
TREASURY BOND 2.37500 02/15/2042 US 3,530,276.59 $2,344,324.30
TREASURY NOTE 2.25000 11/15/2027 US 1,438,258.4 $1,301,623.85
TRUIST FINANCIAL CORP US TFC 52.93 $1,501.16
TSY INFL IX N/B 0.12500 01/15/2031 US 1,004,555.79 $849,269.68
TYSON FOODS INC -CL A US TSN 22.03 $1,020.92
U.S. BANCORP US USB 73.95 $2,357.68
UDR INC US UDR 951.38 $30,263.50
UNILEVER PLC - ADR GB UL 13,812.93 $654,042.39
UNION PAC CORP US UNP 1,451.71 $301,388.55
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,692.79 $7,103.84
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 46,023.11 $40,754.97
UNITED PARCEL SERVICE US UPS 27.39 $3,869.10
UNITEDHEALTH GROUP INC US UNH 88.7 $47,505.17
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 38,871.85 $34,674.32
US TEASURY NOTE 1.75000 11/15/2029 US 2,554,086.23 $2,146,629.66
US TREASURY N/B 0.87500 11/15/2030 US 3,119,248.62 $2,388,174.72
US TREASURY N/B 1.37500 11/15/2031 US 1,580,529.36 $1,215,772.82
US TREASURY N/B 3.12500 11/15/2028 US 1,735,424.11 $1,601,199.90
US TREASURY N/B 4.12500 11/15/2032 US 848,494.71 $801,297.19
USRE 2021-1 A1 1.91000 10/20/2061 US 190,472.06 $162,867.15
VALERO ENERGY US VLO 14.06 $1,785.21
VENTAS INC US VTR 737.05 $31,295.00
VERTEX PHARMACEUTICALS INC US VRTX 1,146.99 $415,336.41
VISA INC - CLASS A SHARES US V 3,598.34 $845,970.27
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 195,725.99 $173,274.40
WELLS FARGO COMPANY US WFC 104.42 $4,152.85
WELLTOWER INC. US WELL 543.36 $45,430.04
WIN 2015-1 A1 3.50000 01/20/2045 US 10,324.41 $8,848.49

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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