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

$22.37

Daily $ Change

-$0.16

Daily % Change

-0.72%

as of 06/07/2023

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 05/31/2023

YTD

6.74%

1 Year

0.04%

3 Year

5.07%

5 Year

6.50%

10 Year

6.81%

Inception
(08/03/2012)

6.83%

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 05/31/2023

TREASURY NOTES 16.30%
GOVERNMENT AGENCY 6.92%
TREASURY BONDS 5.16%
AMAZON.COM INC 2.35%
TREASURY BILLS 2.28%
MASTERCARD INC-CLASS A 1.94%
ALPHABET INC-CL A 1.90%
META PLATFORMS INC 1.83%
JOHNSON & JOHNSON 1.77%
MICRON TECHNOLOGY INC 1.77%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
54.54%
Bonds
43.47%
Cash
1.99%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
14.16%
Small Capitalization
0.41%
Mid Capitalization
5.37%
Large Capitalization
34.60%
Long Term Fixed Income
11.18%
Intermediate Term Fixed Income
29.21%
Short Term Fixed Income
3.08%
Cash
1.99%

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 123.38 $11,513.02
ABBOTT LABORATORIES US ABT 232.03 $23,667.21
ADMIRAL GROUP PLC GB AMIGY 10,503.22 $303,648.14
ADMIRAL GROUP PLC GB ADM LN 2,806.24 $81,287.88
ADVANCED MICRO DEVICES INC US AMD 559.4 $66,126.51
ADYEN NV NL ADYEN NA 15.19 $24,883.38
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 113,365.46 $98,282.98
AGREE REALTY CORP US ADC 681.19 $43,929.73
AIR LIQUIDE FR AI FP 410.33 $68,752.37
AIR LIQUIDE-ADR FR AIQUY 12,386.37 $415,190.99
AIRBUS SE FR AIR FP 315.63 $41,449.99
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 15,515.82 $15,727.88
ALCON INC CH ALC 5,412.54 $418,876.31
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 70,693.89 $58,068.21
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 229,295.8 $194,216.37
ALPHABET INC-CL A US GOOGL 8,633.5 $1,060,798.58
AMAZON.COM INC US AMZN 10,877.45 $1,311,603.04
AMAZON.COM INC 3.30000 04/13/2027 US 228,349.8 $220,216.78
AMERICAN HOMES 4 RENT- A US AMH 512.88 $17,581.62
AMERICAN TANKER INC 7.75000 07/02/2025 US 63,575.34 $61,096.58
AMERICAN TOWER REIT INC US AMT 171.29 $31,592.99
AMERICOLD REALTY TRUST US COLD 1,480.55 $43,380.18
ANALOG DEVICES INC US ADI 112.78 $20,039.61
APARTMENT INCOME REIT CO US AIRC 495.21 $17,178.74
APPLIED MATERIALS INC US AMAT 3,021.72 $402,795.91
ARCHER-DANIELS-MIDLAND CO US ADM 137.72 $9,730.01
ARGO BLOCKCHAIN PLC GB 113.52 $681.12
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 98,224.58 $91,012.99
ASTRAZENECA GB AZN 2,708.99 $197,972.78
ATLASSIAN CORP PLC-CLASS A AU TEAM 139.2 $25,165.89
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 3,837.18 $20,509.05
AUTO TRADER GROUP PLC GB AUTO LN 9,512.1 $74,651.21
AVALONBAY COMMUNITIES INC US AVB 157.25 $27,358.65
AVANZA BANK HOLDING AB SE AZA SS 1,317.85 $27,365.03
BABS 2021-RM2 A 1.75000 10/25/2061 US 91,957.95 $80,414.84
BAE SYSTEMS PLC GB BA/ LN 6,134.96 $70,905.03
BAE SYSTEMS PLC -SPON ADR GB BAESY 6,358.93 $298,806.07
BANK OF AMERICA CORP US BAC 870.29 $24,185.31
BANK OF AMERICA CORP 2.68700 04/22/2032 US 190,591.93 $157,432.93
BARRICK GOLD CORP CA GOLD 10,965.66 $185,100.26
BAXTER INTERNATIONAL INC US BAX 133.96 $5,454.82
BEIERSDORF AG DE BEI GR 417.6 $53,289.62
BIOMARIN PHARMACEUTICAL INC US BMRN 5,170.68 $449,538.49
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 104,037.11 $99,979.33
BOSTON SCIENTIFIC CORP US BSX 1,500.35 $77,237.95
BRANDYWINE REALTY TRUST US BDN 1,609.44 $6,276.81
BRISTOL MYERS SQUIBB CO US BMY 352.67 $22,726.20
BROADCOM INC US AVGO 43.53 $35,172.65
BROADRIDGE FINANCIAL SOLUTIONS US BR 41.01 $6,016.26
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,677.81 $23,779.62
BUNGE LIMITED US BG 53.52 $4,958.23
C.H. ROBINSON WORLDWIDE INC US CHRW 53.34 $5,042.46
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 49,787.65 $50,437.38
CAMPBELL SOUP CO US CPB 115.15 $5,820.98
CANADIAN NATIONAL RAILWAY CO CA CNI 2,753.48 $310,400.24
CARETRUST REIT INC US CTRE 1,356.74 $26,320.79
CATERPILLAR INC US CAT 109.45 $22,519.11
CBOE GLOBAL MARKETS INC US CBOE 2,794.2 $370,007.75
CELLNEX TELECOM SA ES CLNX SM 1,304.51 $52,865.81
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 6,133.23 $124,014.00
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 106,087.26 $111,057.34
CHEVRON CORP US CVX 215.75 $32,496.71
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,690.2 $4,547.31
CISCO SYSTEMS INC US CSCO 641.77 $31,876.77
CITIGROUP INC US C 391.67 $17,358.91
CITIGROUP INC 1.46200 06/09/2027 US 182,301.44 $162,511.15
CLARK CNTY NV 1.51000 11/01/2028 US 11,036.61 $9,457.37
CLEANAWAY WASTE MANAGEMENT AU CWY AU 24,403.35 $41,234.59
COCA COLA CO/THE US KO 8,838.62 $527,311.82
COGNIZANT TECH SOLUTIONS - A US CTSH 107.69 $6,729.66
COLGATE-PALMOLIVE CO US CL 189.49 $14,093.94
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 130,217.09 $122,279.57
COMCAST CORP-CL A US CMCSA 678.06 $26,681.61
COMMUNITY HEALTHCARE TRUST I US CHCT 649.62 $21,307.55
CONAGRA BRAND INC. US CAG 169.66 $5,916.08
CONOCOPHILLIPS US COP 186.12 $18,482.15
CONSTELLATION BRANDS INC-A US STZ 582.48 $141,525.38
COPART INC US CPRT 3,800.61 $332,895.85
CORNING INC US GLW 183.78 $5,662.31
COTERRA ENERGY INC US CTRA 222.41 $5,171.08
COUSINS PROPERTIES INC US CUZ 1,138.61 $22,681.19
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 29,459.03 $25,300.69
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 16,592.94 $14,059.27
CSX CORP US CSX 9,482.62 $290,832.09
CUMMINS INC US CMI 45.91 $9,383.87
CVS HEALTH CORP US CVS 957.12 $65,112.78
DANONE FR BN FP 406.19 $24,041.78
DEUTSCHE BOERSE AG DE DB1 GR 356.64 $61,686.30
DEUTSCHE BOERSE AG ADR DE DBOEY 16,608.83 $286,502.40
DEVON ENERGY CORPORATION US DVN 152.61 $7,035.42
DIAGEO PLC GB DGE LN 1,113.68 $46,298.57
DIAMONDBACK ENERGY INC US FANG 47.11 $5,990.04
DIGITAL REALTY TRUST INC US DLR 137.27 $14,064.59
DOLLAR GENERAL CORP US DG 387.04 $77,829.52
DOLLAR TREE STORES INC US DLTR 802.14 $108,192.78
DOMINO'S PIZZA US DPZ 148.84 $43,140.29
DOW INC US DOW 158.84 $7,748.16
DREYFUS GVT CSH MANAGEMENT US 1,130,263.43 $1,130,263.43
EBAY INC US EBAY 146.69 $6,240.27
ELECTRONIC ARTS US EA 6,316.39 $808,497.78
EMERSON ELEC CO US EMR 147.68 $11,471.67
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 261,151.74 $260,485.36
EOG RESOURCES INC US EOG 109.05 $11,699.75
EQUINIX INC US EQIX 398.96 $297,445.70
EQUITY COMMONWEALTH US EQC 1,123.77 $22,981.06
EQUITY LIFESTYLE PROPERTIES US ELS 706.27 $44,615.11
ESSEX PROPERTY TRUST INC US ESS 63.07 $13,625.95
EVERGY INC US EVRG 5,514.65 $319,022.40
EXTRA SPACE STORAGE INC US EXR 68.63 $9,901.26
EXXON MOBIL CORP US XOM 345.8 $35,333.51
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,879.4 $3,043.34
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 126.41 $125.50
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,079.72 $10,982.45
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 198,312.34 $206,960.05
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 135,315.39 $125,290.64
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 295,286.54 $278,763.47
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 181,111.14 $168,373.42
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,759.9 $15,867.59
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 193,961.68 $185,490.32
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,971.93 $34,755.08
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 202,910.51 $186,138.68
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 199,470.64 $188,309.05
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 274,221.87 $273,530.72
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 191,864.8 $171,376.81
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 194,229 $191,160.31
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 198,843.69 $175,477.73
FEDEX CORPORATION US FDX 41.99 $9,153.36
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 43,285.95 $42,657.70
FHLM POOL C91780 4.50000 07/01/2034 US 49,375.27 $49,192.02
FHLM POOL G05906 6.00000 04/01/2040 US 6,084.56 $6,438.98
FHLM POOL G13331 5.50000 10/01/2023 US 5.01 $4.99
FHLM POOL K91364 4.50000 11/01/2033 US 6,275.01 $6,259.84
FHLM POOL K92059 4.50000 09/01/2034 US 33,384.66 $33,252.67
FHLM POOL SD8230 4.50000 06/01/2052 US 132,054.19 $127,662.92
FIFTH THIRD BANCORP US FITB 217.29 $5,273.72
FINECOBANK SPA IT FBK IM 3,162.55 $42,245.86
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,248.54 $18,803.00
FLX 2021-1A A2 3.25000 11/27/2051 US 176,176.06 $156,091.99
FMC CORP US FMC 6,046.69 $629,339.56
FN DS2696 3.00000 12/01/2051 US 235,356.16 $210,205.28
FN MA4733 4.50000 09/01/2052 US 227,938.69 $220,359.52
FN MA4807 MTGE 5.50000 11/01/2052 US 160,237.65 $160,060.78
FN MA4868 MTGE 5.00000 01/01/2053 US 289,230.66 $284,661.49
FN MA4934 MTGE 5.00000 02/01/2043 US 298,928.76 $296,136.23
FNR 2018-31 KP 3.50000 07/25/2047 US 2,911.31 $2,814.37
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 148,600.68 $141,053.73
FR SD1129 4.00000 08/01/2051 US 217,625.21 $207,918.32
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 321,712.8 $309,234.80
GENERAL DYNAMICS CORP US GD 64.53 $13,175.44
GENERAL MLS INC US GIS 156.71 $13,188.90
GENUINE PARTS CO US GPC 49.82 $7,420.05
GETTY REALTY CORP US GTY 944.68 $32,374.09
GILEAD SCIENCES INC US GILD 260.27 $20,025.35
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 33,883.47 $31,047.93
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 30,120.38 $28,166.65
GREENIDGE GEN HLD INC US 1,271.51 $6,039.66
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 93,681.3 $80,651.28
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 76,835.11 $66,228.74
HALLIBURTON CO US HAL 195.34 $5,596.57
HARTFORD FINL SVCS US HIG 72.39 $4,960.21
HAWAII ST 2.68200 10/01/2038 US 15,319.66 $11,630.09
HDFC BANK LTD-ADR IN HDB 2,116.47 $136,300.49
HEALTHCARE REALTY TRUST INC US HR 2,153.98 $40,085.58
HEINEKEN NV NL HEIA NA 592.36 $59,934.10
HEINEKEN NV-SPN ADR NL HEINY 7,499.53 $379,026.32
HELIOS TOWERS PLC GB HTWS LN 12,358.12 $13,920.12
HOME DEPOT INC US HD 142.01 $40,251.61
HONEYWELL INTERNATIONAL INC US HON 127.27 $24,384.62
HUMANA INC US HUM 241.39 $121,144.64
HUNTINGTON BANCSHARES US HBAN 366.21 $3,775.59
HWIRE 2021-1 A2 2.31100 11/20/2051 US 165,452.3 $146,911.47
IDEXX LABORATORIES INC US IDXX 934.96 $434,543.21
IMCD NV NL IMCD NA 134.32 $20,247.78
IMPRL 2021-NQM3 1.59500 11/25/2056 US 90,728.63 $76,137.03
INTERCONTINENTALEXCHANGE INC US ICE 2,974.5 $315,148.53
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,373.69 $23,842.97
INTERNATIONAL BUSINESS MACH CORP US IBM 122 $15,687.58
INTERNATIONAL FLVRS & FRAGRANCES US IFF 69.83 $5,397.28
INTUIT INC US INTU 899.64 $377,056.15
INTUITIVE SURGICAL INC US ISRG 1,233.74 $379,793.85
INVITATION HOMES INC US INVH 1,240 $42,011.07
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 36,767.18 $35,165.53
JM SMUCKER CO/THE-NEW COM WI US SJM 40.79 $5,979.23
JOHNSON & JOHNSON US JNJ 6,364.69 $986,909.53
JP MORGAN CHASE & CO US JPM 826.95 $112,225.97
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 29,254.95 $27,651.33
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 271,920.2 $262,483.71
KELLOGG CO US K 78.06 $5,212.28
KEYENCE CORP JP 6861 JP 77.05 $37,349.82
KEYWORDS STUDIOS PLC IE KWS LN 582.53 $14,094.19
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 30,268.57 $61,858.14
KRAFT HEINZ CO/THE US KHC 218.68 $8,358.01
L'OREAL FR OR FP 28.21 $12,077.80
L3HARRIS TECHNOLOGIES INC US LHX 2,666.88 $469,157.06
LEXINGTON REALTY TRUST US LXP 2,822.02 $29,179.64
LIFE STORAGE INC US LSI 286.39 $36,483.56
LINDE PLC IE LIN 235.49 $83,283.04
LOCKHEED MARTIN CORP US LMT 49.21 $21,847.58
LULULEMON - ADR CA LULU 523.12 $173,639.88
MARATHON OIL CORP US MRO 165.34 $3,664.04
MARATHON PETROLEUM CORP US MPC 102.17 $10,718.91
MASCO CORP US MAS 12,921.97 $624,389.41
MASTERCARD INC-CLASS A US MA 2,963.74 $1,081,824.42
MEDTRONIC INC IE MDT 8,784.03 $726,966.27
MEITUAN DIANPING - CLASS B CN 3690 HK 10.81 $151.83
MERCADOLIBRE INC BR MELI 92.84 $115,027.99
MERCK & CO INC US MRK 370.28 $40,882.11
META PLATFORMS INC US META 3,849.62 $1,019,071.46
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 229,794.86 $12,206.65
MICROCHIP TECHNOLOGY INC US MCHP 125.54 $9,448.35
MICRON TECHNOLOGY INC US MU 14,450.37 $985,515.26
MICROSOFT CORP US MSFT 2,124.85 $697,780.82
MID-AMERICA APARTMENT COMM US MAA 240.73 $35,401.45
MONARCH CASINO & RESORT INC US MCRI 218.01 $14,146.40
MONDELEZ INTERNATIONAL INC US MDLZ 8,273.16 $607,333.03
MOODY'S CORPORATION US MCO 2,041.82 $647,010.60
NAVIENT CORP 6.75000 06/25/2025 US 60,218.42 $58,594.95
NESTLE S.A. - ADR CH NSRGY 4,118.35 $488,971.59
NESTLE SA-REGISTERED CH NESN SW 578.12 $68,528.59
NETAPP INC US NTAP 82.19 $5,453.63
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 121,519.4 $109,321.60
NEWMONT GOLDCORP CORP US NEM 2,775.76 $112,557.14
NIKE INC CLASS B US NKE 2,390.87 $251,662.83
NORFOLK SOUTHN CORP US NSC 280.64 $58,423.75
NORTHROP GRUMMAN CORP US NOC 1,075.31 $468,285.00
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 61,255.04 $6.13
NOVARTIS AG- REG CH NVS 3,731.63 $359,169.03
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 31,679.83 $28,970.42
NRZT 2015-2A A1 3.75000 08/25/2055 US 52,774.14 $49,288.31
NRZT 2016-4A A1 3.75000 11/25/2056 US 102,239.84 $94,058.18
OASIS 2023-1A 7.00000 02/15/2035 US 97,196.26 $96,436.03
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 52,265.61 $52,526.94
OMNICOM GROUP US OMC 75.13 $6,626.12
OXFIN 2020-1A A2 3.10100 02/15/2028 US 67,006.8 $66,371.57
OXFIN 2022-1A 3.60200 02/15/2030 US 149,366.66 $137,217.98
OXFIN 2023-1A A2 6.71600 02/15/2031 US 189,963.75 $188,482.96
PACKAGING CORP OF AMERICA US PKG 35.08 $4,351.56
PARAMOUNT GLOBAL CLASS B US PARA 205.95 $3,132.48
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 141,443.45 $133,533.70
PELORUS FUND REIT 7.00000 09/30/2026 US 57,312.16 $53,692.75
PEPSICO INC 3.90000 07/18/2032 US 207,758.89 $200,653.31
PFIZER INC US PFE 697.08 $26,503.03
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 147,218.89 $118,785.21
PFMT 2021-2 A2A 2.00000 04/25/2051 US 87,143.68 $74,107.92
PHILLIPS 66 US PSX 80.84 $7,405.63
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 24,981.64 $22,597.58
POPULAR INC 6.12500 09/14/2023 PR 52,536.25 $52,273.56
PPG INDUSTRIES INC US PPG 56.7 $7,443.86
PROLOGIS US PLD 1,513.57 $188,514.56
PUBLIC STORAGE INC US PSA 227.31 $64,398.25
QUALCOMM 5.40000 05/20/2033 US 12,297.94 $12,859.83
QUALCOMM INC US QCOM 206.75 $23,447.61
QUEST DIAGNOSTICS INC US DGX 43.93 $5,827.80
RAYTHEON TECHNOLOGIES CORP US RTX 186.53 $17,186.45
RCKT 2021-6 A1 2.50000 12/25/2051 US 157,887.28 $127,399.64
REALTY INCOME CORP US O 605.11 $35,967.94
REGIONS FINANCIAL CORP. US RF 328.32 $5,670.00
RENAISSANCERE HOLDINGS LTD BM RNR 204.36 $38,495.11
RENTOKIL INITIAL PLC GB RTO LN 6,173.25 $49,105.62
RENTOKIL INITIAL PLC-SP ADR GB RTO 8,368.24 $332,470.14
RESTAURANT BRANDS INTERN CA QSR 473.86 $34,548.80
REXFORD INDUSTRIAL REALITY IN US REXR 764.99 $41,645.97
S&P GLOBAL INC US SPGI 828.98 $304,591.78
SALESFORCE INC US CRM 1,970.83 $440,243.50
SBA COMMUNICATIONS CORP US SBAC 590.9 $131,050.50
SBA TOWER TRUST 6.59900 01/15/2028 US 186,109.01 $192,590.67
SCHLUMBERGER LTD NL SLB 230.83 $9,886.39
SEMT 2013-2 1.87400 02/25/2043 US 17,582.76 $15,317.59
SEMT 2013-6 A2 3.00000 05/25/2043 US 42,314.93 $36,440.77
SEMT 2013-7 A2 3.00000 06/25/2043 US 17,696.77 $15,645.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 21,326.76 $18,938.77
SERVICENOW INC US NOW 1,579.06 $860,241.02
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 363,026.23 $294,971.67
SKYWORKS SOLUTIONS INC US SWKS 48.65 $5,035.86
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 121,359.26 $106,796.15
SMB 2020-BA A1A 1.29000 07/15/2053 US 97,641.28 $85,315.59
SNOWFLAKE INC-CLASS A US SNOW 1,018.4 $168,401.89
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 27,116.43 $26,220.62
SONY CORP FIRST SECTION JP 6758 JP 634.83 $59,535.04
SONY CORP SPONSORED ADR JP SONY 1,157.55 $108,462.57
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 103,344.72 $93,334.18
SORT 2020-1 A2 1.99000 07/15/2060 US 84,056.86 $70,663.08
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 296,435.37 $256,963.43
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 203,676.75 $148,681.18
STAG INDUSTRIAL INC US STAG 556.6 $19,369.56
SUN COMMUNITIES US SUI 458.66 $58,079.79
SYNCHRONOSS TECH US 1,648 $30,487.94
SYSCO CORP US SYY 98.26 $6,873.08
TAH 2017-SFR2 A 2.92800 01/17/2036 US 95,155.89 $93,109.69
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,561.6 $548,318.16
TE CONNECTIVITY LIMITED CH TEL 73.93 $9,055.15
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,266.54 $30,250.83
TENCENT HOLDINGS 3.97500 04/11/2029 KY 463,684.07 $436,945.76
TENCENT HOLDINGS LTD CN 700 HK 1,316.08 $52,082.82
TERRENO REALTY CORP US TRNO 642.33 $39,394.12
TEXAS INSTRUMENTS INC US TXN 131.25 $22,821.19
THERMO FISHER SCIENTIFIC INC US TMO 587.23 $298,582.00
TOKYO ELECTRON LTD JP 8035 JP 231.14 $31,435.74
TPMT 2016-5 A1 2.50000 10/25/2056 US 26,646.14 $26,174.82
TPMT 2017-1 A1 2.75000 10/25/2056 US 12,495.17 $12,286.58
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 40,950.39 $40,585.66
TRAVELLERS COS INC US TRV 63.36 $10,722.55
TREASURY BILL 0.00000 05/16/2024 US 1,335,591.11 $1,271,611.90
TREASURY BOND 2.37500 02/15/2042 US 2,468,819.93 $1,928,379.81
TREASURY NOTE 2.25000 11/15/2027 US 1,417,068.3 $1,325,512.41
TRUIST FINANCIAL CORP US TFC 243.01 $7,404.42
TYSON FOODS INC -CL A US TSN 101.03 $5,116.29
U.S. BANCORP US USB 327.14 $9,781.60
UDR INC US UDR 1,063.67 $42,195.69
UNILEVER PLC - ADR GB UL 13,647.33 $681,547.54
UNION PAC CORP US UNP 1,521.3 $292,880.13
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 8,264.56 $7,778.59
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 45,459.33 $41,002.19
UNITED PARCEL SERVICE US UPS 123.38 $20,605.22
UNITEDHEALTH GROUP INC US UNH 89.14 $43,434.67
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 38,299.14 $36,658.91
US TEASURY NOTE 1.75000 11/15/2029 US 3,433,372.47 $3,060,261.46
US TREASURY N/B 0.87500 11/15/2030 US 2,132,417.02 $1,753,913.00
US TREASURY N/B 1.37500 11/15/2031 US 1,620,467.19 $1,354,609.29
US TREASURY N/B 3.00000 05/15/2047 US 547,371.35 $461,759.05
US TREASURY N/B 3.12500 11/15/2028 US 1,647,942.09 $1,594,512.73
US TREASURY N/B 3.62500 02/15/2053 US 511,438.21 $489,782.00
USRE 2021-1 A1 1.91000 10/20/2061 US 187,665.8 $161,957.46
VALERO ENERGY US VLO 64.53 $6,907.13
VENTAS INC US VTR 469.86 $20,269.89
VERTEX PHARMACEUTICALS INC US VRTX 1,134.96 $367,239.81
VISA INC - CLASS A SHARES US V 3,567.15 $788,448.22
VISTRA OPERATIONS 4.87500 05/13/2024 US 180,003.49 $177,424.95
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 51,094.91 $49,423.45
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 278,634.03 $254,597.67
WELLS FARGO COMPANY US WFC 464.43 $18,489.06
WELLTOWER INC. US WELL 466.96 $34,839.98
WIN 2015-1 A1 3.50000 01/20/2045 US 10,314.79 $9,405.17

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

$22.37

Daily $ Change

-$0.16

Daily % Change

-$0.72

as of 06/07/2023

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 05/31/2023

YTD

6.74%

1 Year

0.04%

3 Year

5.07%

5 Year

6.50%

10 Year

6.81%

Inception
(08/03/2012)

6.83%

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 05/31/2023

TREASURY NOTES 16.30%
GOVERNMENT AGENCY 6.92%
TREASURY BONDS 5.16%
AMAZON.COM INC 2.35%
TREASURY BILLS 2.28%
MASTERCARD INC-CLASS A 1.94%
ALPHABET INC-CL A 1.90%
META PLATFORMS INC 1.83%
JOHNSON & JOHNSON 1.77%
MICRON TECHNOLOGY INC 1.77%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
54.54%
Bonds
43.47%
Cash
1.99%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
14.16%
Small Capitalization
0.41%
Mid Capitalization
5.37%
Large Capitalization
34.60%
Long Term Fixed Income
11.18%
Intermediate Term Fixed Income
29.21%
Short Term Fixed Income
3.08%
Cash
1.99%

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 123.38 $11,513.02
ABBOTT LABORATORIES US ABT 232.03 $23,667.21
ADMIRAL GROUP PLC GB AMIGY 10,503.22 $303,648.14
ADMIRAL GROUP PLC GB ADM LN 2,806.24 $81,287.88
ADVANCED MICRO DEVICES INC US AMD 559.4 $66,126.51
ADYEN NV NL ADYEN NA 15.19 $24,883.38
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 113,365.46 $98,282.98
AGREE REALTY CORP US ADC 681.19 $43,929.73
AIR LIQUIDE FR AI FP 410.33 $68,752.37
AIR LIQUIDE-ADR FR AIQUY 12,386.37 $415,190.99
AIRBUS SE FR AIR FP 315.63 $41,449.99
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 15,515.82 $15,727.88
ALCON INC CH ALC 5,412.54 $418,876.31
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 70,693.89 $58,068.21
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 229,295.8 $194,216.37
ALPHABET INC-CL A US GOOGL 8,633.5 $1,060,798.58
AMAZON.COM INC US AMZN 10,877.45 $1,311,603.04
AMAZON.COM INC 3.30000 04/13/2027 US 228,349.8 $220,216.78
AMERICAN HOMES 4 RENT- A US AMH 512.88 $17,581.62
AMERICAN TANKER INC 7.75000 07/02/2025 US 63,575.34 $61,096.58
AMERICAN TOWER REIT INC US AMT 171.29 $31,592.99
AMERICOLD REALTY TRUST US COLD 1,480.55 $43,380.18
ANALOG DEVICES INC US ADI 112.78 $20,039.61
APARTMENT INCOME REIT CO US AIRC 495.21 $17,178.74
APPLIED MATERIALS INC US AMAT 3,021.72 $402,795.91
ARCHER-DANIELS-MIDLAND CO US ADM 137.72 $9,730.01
ARGO BLOCKCHAIN PLC GB 113.52 $681.12
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 98,224.58 $91,012.99
ASTRAZENECA GB AZN 2,708.99 $197,972.78
ATLASSIAN CORP PLC-CLASS A AU TEAM 139.2 $25,165.89
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 3,837.18 $20,509.05
AUTO TRADER GROUP PLC GB AUTO LN 9,512.1 $74,651.21
AVALONBAY COMMUNITIES INC US AVB 157.25 $27,358.65
AVANZA BANK HOLDING AB SE AZA SS 1,317.85 $27,365.03
BABS 2021-RM2 A 1.75000 10/25/2061 US 91,957.95 $80,414.84
BAE SYSTEMS PLC GB BA/ LN 6,134.96 $70,905.03
BAE SYSTEMS PLC -SPON ADR GB BAESY 6,358.93 $298,806.07
BANK OF AMERICA CORP US BAC 870.29 $24,185.31
BANK OF AMERICA CORP 2.68700 04/22/2032 US 190,591.93 $157,432.93
BARRICK GOLD CORP CA GOLD 10,965.66 $185,100.26
BAXTER INTERNATIONAL INC US BAX 133.96 $5,454.82
BEIERSDORF AG DE BEI GR 417.6 $53,289.62
BIOMARIN PHARMACEUTICAL INC US BMRN 5,170.68 $449,538.49
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 104,037.11 $99,979.33
BOSTON SCIENTIFIC CORP US BSX 1,500.35 $77,237.95
BRANDYWINE REALTY TRUST US BDN 1,609.44 $6,276.81
BRISTOL MYERS SQUIBB CO US BMY 352.67 $22,726.20
BROADCOM INC US AVGO 43.53 $35,172.65
BROADRIDGE FINANCIAL SOLUTIONS US BR 41.01 $6,016.26
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 27,677.81 $23,779.62
BUNGE LIMITED US BG 53.52 $4,958.23
C.H. ROBINSON WORLDWIDE INC US CHRW 53.34 $5,042.46
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 49,787.65 $50,437.38
CAMPBELL SOUP CO US CPB 115.15 $5,820.98
CANADIAN NATIONAL RAILWAY CO CA CNI 2,753.48 $310,400.24
CARETRUST REIT INC US CTRE 1,356.74 $26,320.79
CATERPILLAR INC US CAT 109.45 $22,519.11
CBOE GLOBAL MARKETS INC US CBOE 2,794.2 $370,007.75
CELLNEX TELECOM SA ES CLNX SM 1,304.51 $52,865.81
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 6,133.23 $124,014.00
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 106,087.26 $111,057.34
CHEVRON CORP US CVX 215.75 $32,496.71
CIM 2019-INV1 A1 4.00000 02/25/2049 US 4,690.2 $4,547.31
CISCO SYSTEMS INC US CSCO 641.77 $31,876.77
CITIGROUP INC US C 391.67 $17,358.91
CITIGROUP INC 1.46200 06/09/2027 US 182,301.44 $162,511.15
CLARK CNTY NV 1.51000 11/01/2028 US 11,036.61 $9,457.37
CLEANAWAY WASTE MANAGEMENT AU CWY AU 24,403.35 $41,234.59
COCA COLA CO/THE US KO 8,838.62 $527,311.82
COGNIZANT TECH SOLUTIONS - A US CTSH 107.69 $6,729.66
COLGATE-PALMOLIVE CO US CL 189.49 $14,093.94
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 130,217.09 $122,279.57
COMCAST CORP-CL A US CMCSA 678.06 $26,681.61
COMMUNITY HEALTHCARE TRUST I US CHCT 649.62 $21,307.55
CONAGRA BRAND INC. US CAG 169.66 $5,916.08
CONOCOPHILLIPS US COP 186.12 $18,482.15
CONSTELLATION BRANDS INC-A US STZ 582.48 $141,525.38
COPART INC US CPRT 3,800.61 $332,895.85
CORNING INC US GLW 183.78 $5,662.31
COTERRA ENERGY INC US CTRA 222.41 $5,171.08
COUSINS PROPERTIES INC US CUZ 1,138.61 $22,681.19
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 29,459.03 $25,300.69
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 16,592.94 $14,059.27
CSX CORP US CSX 9,482.62 $290,832.09
CUMMINS INC US CMI 45.91 $9,383.87
CVS HEALTH CORP US CVS 957.12 $65,112.78
DANONE FR BN FP 406.19 $24,041.78
DEUTSCHE BOERSE AG DE DB1 GR 356.64 $61,686.30
DEUTSCHE BOERSE AG ADR DE DBOEY 16,608.83 $286,502.40
DEVON ENERGY CORPORATION US DVN 152.61 $7,035.42
DIAGEO PLC GB DGE LN 1,113.68 $46,298.57
DIAMONDBACK ENERGY INC US FANG 47.11 $5,990.04
DIGITAL REALTY TRUST INC US DLR 137.27 $14,064.59
DOLLAR GENERAL CORP US DG 387.04 $77,829.52
DOLLAR TREE STORES INC US DLTR 802.14 $108,192.78
DOMINO'S PIZZA US DPZ 148.84 $43,140.29
DOW INC US DOW 158.84 $7,748.16
DREYFUS GVT CSH MANAGEMENT US 1,130,263.43 $1,130,263.43
EBAY INC US EBAY 146.69 $6,240.27
ELECTRONIC ARTS US EA 6,316.39 $808,497.78
EMERSON ELEC CO US EMR 147.68 $11,471.67
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 261,151.74 $260,485.36
EOG RESOURCES INC US EOG 109.05 $11,699.75
EQUINIX INC US EQIX 398.96 $297,445.70
EQUITY COMMONWEALTH US EQC 1,123.77 $22,981.06
EQUITY LIFESTYLE PROPERTIES US ELS 706.27 $44,615.11
ESSEX PROPERTY TRUST INC US ESS 63.07 $13,625.95
EVERGY INC US EVRG 5,514.65 $319,022.40
EXTRA SPACE STORAGE INC US EXR 68.63 $9,901.26
EXXON MOBIL CORP US XOM 345.8 $35,333.51
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 2,879.4 $3,043.34
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 126.41 $125.50
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 11,079.72 $10,982.45
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 198,312.34 $206,960.05
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 135,315.39 $125,290.64
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 295,286.54 $278,763.47
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 181,111.14 $168,373.42
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,759.9 $15,867.59
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 193,961.68 $185,490.32
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 34,971.93 $34,755.08
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 202,910.51 $186,138.68
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 199,470.64 $188,309.05
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 274,221.87 $273,530.72
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 191,864.8 $171,376.81
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 194,229 $191,160.31
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 198,843.69 $175,477.73
FEDEX CORPORATION US FDX 41.99 $9,153.36
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 43,285.95 $42,657.70
FHLM POOL C91780 4.50000 07/01/2034 US 49,375.27 $49,192.02
FHLM POOL G05906 6.00000 04/01/2040 US 6,084.56 $6,438.98
FHLM POOL G13331 5.50000 10/01/2023 US 5.01 $4.99
FHLM POOL K91364 4.50000 11/01/2033 US 6,275.01 $6,259.84
FHLM POOL K92059 4.50000 09/01/2034 US 33,384.66 $33,252.67
FHLM POOL SD8230 4.50000 06/01/2052 US 132,054.19 $127,662.92
FIFTH THIRD BANCORP US FITB 217.29 $5,273.72
FINECOBANK SPA IT FBK IM 3,162.55 $42,245.86
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,248.54 $18,803.00
FLX 2021-1A A2 3.25000 11/27/2051 US 176,176.06 $156,091.99
FMC CORP US FMC 6,046.69 $629,339.56
FN DS2696 3.00000 12/01/2051 US 235,356.16 $210,205.28
FN MA4733 4.50000 09/01/2052 US 227,938.69 $220,359.52
FN MA4807 MTGE 5.50000 11/01/2052 US 160,237.65 $160,060.78
FN MA4868 MTGE 5.00000 01/01/2053 US 289,230.66 $284,661.49
FN MA4934 MTGE 5.00000 02/01/2043 US 298,928.76 $296,136.23
FNR 2018-31 KP 3.50000 07/25/2047 US 2,911.31 $2,814.37
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 148,600.68 $141,053.73
FR SD1129 4.00000 08/01/2051 US 217,625.21 $207,918.32
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 321,712.8 $309,234.80
GENERAL DYNAMICS CORP US GD 64.53 $13,175.44
GENERAL MLS INC US GIS 156.71 $13,188.90
GENUINE PARTS CO US GPC 49.82 $7,420.05
GETTY REALTY CORP US GTY 944.68 $32,374.09
GILEAD SCIENCES INC US GILD 260.27 $20,025.35
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 33,883.47 $31,047.93
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 30,120.38 $28,166.65
GREENIDGE GEN HLD INC US 1,271.51 $6,039.66
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 93,681.3 $80,651.28
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 76,835.11 $66,228.74
HALLIBURTON CO US HAL 195.34 $5,596.57
HARTFORD FINL SVCS US HIG 72.39 $4,960.21
HAWAII ST 2.68200 10/01/2038 US 15,319.66 $11,630.09
HDFC BANK LTD-ADR IN HDB 2,116.47 $136,300.49
HEALTHCARE REALTY TRUST INC US HR 2,153.98 $40,085.58
HEINEKEN NV NL HEIA NA 592.36 $59,934.10
HEINEKEN NV-SPN ADR NL HEINY 7,499.53 $379,026.32
HELIOS TOWERS PLC GB HTWS LN 12,358.12 $13,920.12
HOME DEPOT INC US HD 142.01 $40,251.61
HONEYWELL INTERNATIONAL INC US HON 127.27 $24,384.62
HUMANA INC US HUM 241.39 $121,144.64
HUNTINGTON BANCSHARES US HBAN 366.21 $3,775.59
HWIRE 2021-1 A2 2.31100 11/20/2051 US 165,452.3 $146,911.47
IDEXX LABORATORIES INC US IDXX 934.96 $434,543.21
IMCD NV NL IMCD NA 134.32 $20,247.78
IMPRL 2021-NQM3 1.59500 11/25/2056 US 90,728.63 $76,137.03
INTERCONTINENTALEXCHANGE INC US ICE 2,974.5 $315,148.53
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,373.69 $23,842.97
INTERNATIONAL BUSINESS MACH CORP US IBM 122 $15,687.58
INTERNATIONAL FLVRS & FRAGRANCES US IFF 69.83 $5,397.28
INTUIT INC US INTU 899.64 $377,056.15
INTUITIVE SURGICAL INC US ISRG 1,233.74 $379,793.85
INVITATION HOMES INC US INVH 1,240 $42,011.07
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 36,767.18 $35,165.53
JM SMUCKER CO/THE-NEW COM WI US SJM 40.79 $5,979.23
JOHNSON & JOHNSON US JNJ 6,364.69 $986,909.53
JP MORGAN CHASE & CO US JPM 826.95 $112,225.97
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 29,254.95 $27,651.33
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 271,920.2 $262,483.71
KELLOGG CO US K 78.06 $5,212.28
KEYENCE CORP JP 6861 JP 77.05 $37,349.82
KEYWORDS STUDIOS PLC IE KWS LN 582.53 $14,094.19
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 30,268.57 $61,858.14
KRAFT HEINZ CO/THE US KHC 218.68 $8,358.01
L'OREAL FR OR FP 28.21 $12,077.80
L3HARRIS TECHNOLOGIES INC US LHX 2,666.88 $469,157.06
LEXINGTON REALTY TRUST US LXP 2,822.02 $29,179.64
LIFE STORAGE INC US LSI 286.39 $36,483.56
LINDE PLC IE LIN 235.49 $83,283.04
LOCKHEED MARTIN CORP US LMT 49.21 $21,847.58
LULULEMON - ADR CA LULU 523.12 $173,639.88
MARATHON OIL CORP US MRO 165.34 $3,664.04
MARATHON PETROLEUM CORP US MPC 102.17 $10,718.91
MASCO CORP US MAS 12,921.97 $624,389.41
MASTERCARD INC-CLASS A US MA 2,963.74 $1,081,824.42
MEDTRONIC INC IE MDT 8,784.03 $726,966.27
MEITUAN DIANPING - CLASS B CN 3690 HK 10.81 $151.83
MERCADOLIBRE INC BR MELI 92.84 $115,027.99
MERCK & CO INC US MRK 370.28 $40,882.11
META PLATFORMS INC US META 3,849.62 $1,019,071.46
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 229,794.86 $12,206.65
MICROCHIP TECHNOLOGY INC US MCHP 125.54 $9,448.35
MICRON TECHNOLOGY INC US MU 14,450.37 $985,515.26
MICROSOFT CORP US MSFT 2,124.85 $697,780.82
MID-AMERICA APARTMENT COMM US MAA 240.73 $35,401.45
MONARCH CASINO & RESORT INC US MCRI 218.01 $14,146.40
MONDELEZ INTERNATIONAL INC US MDLZ 8,273.16 $607,333.03
MOODY'S CORPORATION US MCO 2,041.82 $647,010.60
NAVIENT CORP 6.75000 06/25/2025 US 60,218.42 $58,594.95
NESTLE S.A. - ADR CH NSRGY 4,118.35 $488,971.59
NESTLE SA-REGISTERED CH NESN SW 578.12 $68,528.59
NETAPP INC US NTAP 82.19 $5,453.63
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 121,519.4 $109,321.60
NEWMONT GOLDCORP CORP US NEM 2,775.76 $112,557.14
NIKE INC CLASS B US NKE 2,390.87 $251,662.83
NORFOLK SOUTHN CORP US NSC 280.64 $58,423.75
NORTHROP GRUMMAN CORP US NOC 1,075.31 $468,285.00
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 61,255.04 $6.13
NOVARTIS AG- REG CH NVS 3,731.63 $359,169.03
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 31,679.83 $28,970.42
NRZT 2015-2A A1 3.75000 08/25/2055 US 52,774.14 $49,288.31
NRZT 2016-4A A1 3.75000 11/25/2056 US 102,239.84 $94,058.18
OASIS 2023-1A 7.00000 02/15/2035 US 97,196.26 $96,436.03
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 52,265.61 $52,526.94
OMNICOM GROUP US OMC 75.13 $6,626.12
OXFIN 2020-1A A2 3.10100 02/15/2028 US 67,006.8 $66,371.57
OXFIN 2022-1A 3.60200 02/15/2030 US 149,366.66 $137,217.98
OXFIN 2023-1A A2 6.71600 02/15/2031 US 189,963.75 $188,482.96
PACKAGING CORP OF AMERICA US PKG 35.08 $4,351.56
PARAMOUNT GLOBAL CLASS B US PARA 205.95 $3,132.48
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 141,443.45 $133,533.70
PELORUS FUND REIT 7.00000 09/30/2026 US 57,312.16 $53,692.75
PEPSICO INC 3.90000 07/18/2032 US 207,758.89 $200,653.31
PFIZER INC US PFE 697.08 $26,503.03
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 147,218.89 $118,785.21
PFMT 2021-2 A2A 2.00000 04/25/2051 US 87,143.68 $74,107.92
PHILLIPS 66 US PSX 80.84 $7,405.63
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 24,981.64 $22,597.58
POPULAR INC 6.12500 09/14/2023 PR 52,536.25 $52,273.56
PPG INDUSTRIES INC US PPG 56.7 $7,443.86
PROLOGIS US PLD 1,513.57 $188,514.56
PUBLIC STORAGE INC US PSA 227.31 $64,398.25
QUALCOMM 5.40000 05/20/2033 US 12,297.94 $12,859.83
QUALCOMM INC US QCOM 206.75 $23,447.61
QUEST DIAGNOSTICS INC US DGX 43.93 $5,827.80
RAYTHEON TECHNOLOGIES CORP US RTX 186.53 $17,186.45
RCKT 2021-6 A1 2.50000 12/25/2051 US 157,887.28 $127,399.64
REALTY INCOME CORP US O 605.11 $35,967.94
REGIONS FINANCIAL CORP. US RF 328.32 $5,670.00
RENAISSANCERE HOLDINGS LTD BM RNR 204.36 $38,495.11
RENTOKIL INITIAL PLC GB RTO LN 6,173.25 $49,105.62
RENTOKIL INITIAL PLC-SP ADR GB RTO 8,368.24 $332,470.14
RESTAURANT BRANDS INTERN CA QSR 473.86 $34,548.80
REXFORD INDUSTRIAL REALITY IN US REXR 764.99 $41,645.97
S&P GLOBAL INC US SPGI 828.98 $304,591.78
SALESFORCE INC US CRM 1,970.83 $440,243.50
SBA COMMUNICATIONS CORP US SBAC 590.9 $131,050.50
SBA TOWER TRUST 6.59900 01/15/2028 US 186,109.01 $192,590.67
SCHLUMBERGER LTD NL SLB 230.83 $9,886.39
SEMT 2013-2 1.87400 02/25/2043 US 17,582.76 $15,317.59
SEMT 2013-6 A2 3.00000 05/25/2043 US 42,314.93 $36,440.77
SEMT 2013-7 A2 3.00000 06/25/2043 US 17,696.77 $15,645.88
SEMT 2013-8 A1 3.00000 06/25/2043 US 21,326.76 $18,938.77
SERVICENOW INC US NOW 1,579.06 $860,241.02
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 363,026.23 $294,971.67
SKYWORKS SOLUTIONS INC US SWKS 48.65 $5,035.86
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 121,359.26 $106,796.15
SMB 2020-BA A1A 1.29000 07/15/2053 US 97,641.28 $85,315.59
SNOWFLAKE INC-CLASS A US SNOW 1,018.4 $168,401.89
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 27,116.43 $26,220.62
SONY CORP FIRST SECTION JP 6758 JP 634.83 $59,535.04
SONY CORP SPONSORED ADR JP SONY 1,157.55 $108,462.57
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 103,344.72 $93,334.18
SORT 2020-1 A2 1.99000 07/15/2060 US 84,056.86 $70,663.08
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 296,435.37 $256,963.43
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 203,676.75 $148,681.18
STAG INDUSTRIAL INC US STAG 556.6 $19,369.56
SUN COMMUNITIES US SUI 458.66 $58,079.79
SYNCHRONOSS TECH US 1,648 $30,487.94
SYSCO CORP US SYY 98.26 $6,873.08
TAH 2017-SFR2 A 2.92800 01/17/2036 US 95,155.89 $93,109.69
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 5,561.6 $548,318.16
TE CONNECTIVITY LIMITED CH TEL 73.93 $9,055.15
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 3,266.54 $30,250.83
TENCENT HOLDINGS 3.97500 04/11/2029 KY 463,684.07 $436,945.76
TENCENT HOLDINGS LTD CN 700 HK 1,316.08 $52,082.82
TERRENO REALTY CORP US TRNO 642.33 $39,394.12
TEXAS INSTRUMENTS INC US TXN 131.25 $22,821.19
THERMO FISHER SCIENTIFIC INC US TMO 587.23 $298,582.00
TOKYO ELECTRON LTD JP 8035 JP 231.14 $31,435.74
TPMT 2016-5 A1 2.50000 10/25/2056 US 26,646.14 $26,174.82
TPMT 2017-1 A1 2.75000 10/25/2056 US 12,495.17 $12,286.58
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 40,950.39 $40,585.66
TRAVELLERS COS INC US TRV 63.36 $10,722.55
TREASURY BILL 0.00000 05/16/2024 US 1,335,591.11 $1,271,611.90
TREASURY BOND 2.37500 02/15/2042 US 2,468,819.93 $1,928,379.81
TREASURY NOTE 2.25000 11/15/2027 US 1,417,068.3 $1,325,512.41
TRUIST FINANCIAL CORP US TFC 243.01 $7,404.42
TYSON FOODS INC -CL A US TSN 101.03 $5,116.29
U.S. BANCORP US USB 327.14 $9,781.60
UDR INC US UDR 1,063.67 $42,195.69
UNILEVER PLC - ADR GB UL 13,647.33 $681,547.54
UNION PAC CORP US UNP 1,521.3 $292,880.13
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 8,264.56 $7,778.59
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 45,459.33 $41,002.19
UNITED PARCEL SERVICE US UPS 123.38 $20,605.22
UNITEDHEALTH GROUP INC US UNH 89.14 $43,434.67
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 38,299.14 $36,658.91
US TEASURY NOTE 1.75000 11/15/2029 US 3,433,372.47 $3,060,261.46
US TREASURY N/B 0.87500 11/15/2030 US 2,132,417.02 $1,753,913.00
US TREASURY N/B 1.37500 11/15/2031 US 1,620,467.19 $1,354,609.29
US TREASURY N/B 3.00000 05/15/2047 US 547,371.35 $461,759.05
US TREASURY N/B 3.12500 11/15/2028 US 1,647,942.09 $1,594,512.73
US TREASURY N/B 3.62500 02/15/2053 US 511,438.21 $489,782.00
USRE 2021-1 A1 1.91000 10/20/2061 US 187,665.8 $161,957.46
VALERO ENERGY US VLO 64.53 $6,907.13
VENTAS INC US VTR 469.86 $20,269.89
VERTEX PHARMACEUTICALS INC US VRTX 1,134.96 $367,239.81
VISA INC - CLASS A SHARES US V 3,567.15 $788,448.22
VISTRA OPERATIONS 4.87500 05/13/2024 US 180,003.49 $177,424.95
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 51,094.91 $49,423.45
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 278,634.03 $254,597.67
WELLS FARGO COMPANY US WFC 464.43 $18,489.06
WELLTOWER INC. US WELL 466.96 $34,839.98
WIN 2015-1 A1 3.50000 01/20/2045 US 10,314.79 $9,405.17

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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