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 64% - 90%.

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 2040
  • Who have time to pursue growth and can accept 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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$23.69

Daily $ Change

$0.54

Daily % Change

2.28%

as of 06/24/2022

CUSIP

302027586

Inception Date

05/31/2007

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 05/31/2022

YTD

-13.56%

1 Year

-8.41%

3 Year

10.28%

5 Year

8.84%

10 Year

9.77%

Inception
(01/01/2000)

7.46%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
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 05/31/2022

TREASURY NOTES 9.93%
AMAZON.COM INC 2.90%
MICROSOFT CORP 2.62%
MASTERCARD INC-CLASS A 2.16%
JOHNSON & JOHNSON 1.93%
MEDTRONIC INC 1.90%
COCA COLA CO/THE 1.75%
PAYPAL HOLDINGS INC 1.74%
MONDELEZ INTERNATIONAL INC 1.72%
VISA INC - CLASS A SHARES 1.71%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks 76.31%
Bonds 18.84%
Cash 4.85%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities 20.88%
Small Capitalization 1.92%
Mid Capitalization 6.10%
Large Capitalization 47.41%
Long Term Fixed Income 4.17%
Intermediate Term Fixed Income 12.40%
Short Term Fixed Income 2.27%
Cash 4.85%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 224.36 $26,353.70
ACCOR SA-SPONSORED ADR FR ACCYY 45,146.49 $302,030.01
ACTIVISION INC US ATVI 5,467.52 $425,810.77
ADIDAS AG-SPONSORED ADR DE ADDYY 3,254.02 $322,603.23
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 71,811.61 $62,975.73
ADYEN NV UNSPON ADR NL ADYEY 35,949.29 $556,494.96
AGREE REALTY CORP US ADC 227.79 $15,847.34
AIR LIQUIDE-ADR FR AIQUY 17,292.6 $603,684.63
AIR LEASE CORP 3.62500 04/01/2027 US 70,303.95 $66,858.75
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,914.26 $15,647.13
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 151,720.7 $132,094.62
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 63,882.97 $53,140.75
ALIGN TECHNOLOGY INC US ALGN 1,576.19 $437,614.50
ALLSTATE CORPORATION US ALL 82.39 $11,261.85
ALPHABET INC-CL A US GOOGL 383.6 $872,776.80
AMAZON.COM INC US AMZN 891.98 $2,144,485.97
AMAZON.COM INC 3.30000 04/13/2027 US 146,527.31 $146,392.32
DIAGEO PLC GB DGE LN 12,044.19 $559,588.33
AMERICAN HOMES 4 RENT- A US AMH 811.16 $29,980.40
AMERICAN TOWER REIT INC US AMT 121.4 $31,094.21
ANALOG DEVICES INC US ADI 125.14 $21,073.07
APPLE HOSPITALITY REIT INC US APLE 2,764.9 $46,201.41
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 14,183.75 $14,348.29
ARCHER-DANIELS-MIDLAND CO US ADM 147.69 $13,413.36
ARGO BLOCKCHAIN PLC GB 623.21 $13,068.65
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 64,775.85 $61,595.45
AUTOMATIC DATA PROCESSING US ADP 86.67 $19,322.84
AVALONBAY COMMUNITIES INC US AVB 192.58 $40,048.12
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 190,194.9 $164,810.57
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 51,150.28 $51,782.98
BANK OF AMERICA CORP 2.68700 04/22/2032 US 121,119.52 $105,968.81
BARRICK GOLD CORP CA GOLD 11,948.9 $244,832.88
BAXTER INTERNATIONAL INC US BAX 113.75 $8,650.32
BEST BUY INC US BBY 78.37 $6,430.96
BIOMARIN PHARMACEUTICAL INC US BMRN 9,995.01 $750,924.73
BLACKROCK INC US BLK 995.73 $666,221.62
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 73,542.74 $63,984.80
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 73,542.74 $66,905.04
DECHRA PHARMACEUTICALS PLC GB DPH LN 1,227.17 $56,250.56
BOSTON SCIENTIFIC CORP US BSX 7,462.9 $306,053.61
BRANDYWINE REALTY TRUST US BDN 1,375.22 $15,333.66
BABS 2021-RM2 A 1.75000 10/25/2061 US 34,067 $30,823.31
BRISTOL MYERS SQUIBB CO US BMY 387.87 $29,264.75
BROADRIDGE FINANCIAL SOLUTIONS US BR 43.84 $6,410.55
JONAH ENERGY PARENT LLC US 578.1 $31,021.08
CBOE GLOBAL MARKETS INC US CBOE 2,442.62 $274,331.17
CDW CORP/DE US CDW 1,576.89 $267,849.93
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 34,695.22 $31,830.45
SORT 2020-1 A2 1.99000 07/15/2060 US 28,385.25 $24,924.91
C.H. ROBINSON WORLDWIDE INC US CHRW 54.83 $5,949.77
CIM 2019-INV1 A1 4.00000 02/25/2049 US 1,970.15 $1,967.86
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 10,371.61 $9,730.98
COTERRA ENERGY INC US CTRA 203.84 $6,997.67
CAMDEN PROPERTY TRUST US CPT 185.47 $26,612.72
CAMECO CORP CA CCJ 800.32 $19,583.90
CAMPBELL SOUP CO US CPB 124.22 $5,951.17
CANADIAN NATIONAL RAILWAY CO CA CNI 7,924.15 $901,609.46
CARETRUST REIT INC US CTRE 918.27 $17,015.51
CATERPILLAR INC US CAT 110.76 $23,908.22
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 161,045.76 $181,483.30
CENTURYLINK INC 7.50000 04/01/2024 US 44,170.64 $45,695.39
CHARTER COMMUNICATIONS INC-A US CHTR 1,753.18 $888,737.51
CHEVRON CORP US CVX 208.52 $36,419.24
CINCINNATI FINANCIAL CORP US CINF 60.11 $7,685.49
CISCO SYSTEMS INC US CSCO 707.64 $31,879.13
CITIGROUP INC US C 433.79 $23,168.94
CITIGROUP INC 1.46200 06/09/2027 US 115,144.49 $103,718.98
CLARK CNTY NV 1.51000 11/01/2028 US 60,589.56 $53,303.06
COCA COLA CO/THE US KO 20,385.53 $1,292,035.15
COGNEX CORP US CGNX 4,280.22 $207,248.22
COLGATE-PALMOLIVE CO US CL 206.97 $16,311.62
COMCAST CORP-CL A US CMCSA 758.87 $33,602.70
COMMUNITY HEALTHCARE TRUST I US CHCT 478.42 $18,026.83
CONAGRA BRAND INC. US CAG 187.88 $6,179.42
CONOCOPHILLIPS US COP 187.72 $21,092.77
CONSTELLATION BRANDS INC-A US STZ 3,754.65 $921,653.49
CONTROLADORA VUELA CIA DE AV MX VLRS 1,529.9 $23,835.89
COPART INC US CPRT 2,937.4 $336,420.56
COUSINS PROPERTIES INC US CUZ 1,132.59 $39,130.96
CAALT 2020-1A 2.01000 02/15/2029 US 27,823.75 $27,773.36
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 86,497.91 $78,663.91
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 5,894.14 $5,373.01
CUMMINS INC US CMI 47.66 $9,966.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 34,056.47 $52,692.74
DEVON ENERGY CORPORATION US DVN 146.11 $10,943.32
DIAMONDBACK ENERGY INC US FANG 43.06 $6,545.97
DIGITAL REALTY TRUST INC US DLR 349.24 $48,750.45
WALT DISNEY CO/THE US DIS 2,490.06 $275,001.96
DOLLAR GENERAL CORP US DG 3,501.78 $771,581.82
DOLLAR TREE STORES INC US DLTR 4,987.44 $799,636.40
DOMINO'S PIZZA US DPZ 1,012.54 $367,723.43
DOUBLEVERIFY HOLDINGS INC US DV 19,145.78 $425,993.61
DOW INC US DOW 152.44 $10,362.75
DUKE RLTY INVTS INC US DRE 790.13 $41,742.76
EOG RESOURCES INC US EOG 101.1 $13,846.22
EAST WEST BANCORP INC US EWBC 5,838.58 $429,369.37
EASTMAN CHEM CO US EMN 54.36 $5,987.96
EBAY INC US EBAY 139.18 $6,773.96
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 23,621.04 $22,383.52
ELECTRONIC ARTS US EA 5,406.39 $749,596.22
EMERSON ELEC CO US EMR 160.19 $14,202.38
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 160,543.21 $167,885.95
EQUINIX INC US EQIX 1,311.56 $901,156.30
EQUITY LIFESTYLE PROPERTIES US ELS 698.93 $52,908.79
ESSEX PROPERTY TRUST INC US ESS 118.69 $33,690.66
EXPEDIA INC US EXPE 2,582.5 $333,994.72
EXPEDIA GROUP INC 3.25000 02/15/2030 US 69,801.39 $61,721.31
EXTRA SPACE STORAGE INC US EXR 173.49 $30,915.80
FMC CORP US FMC 6,770.88 $829,974.53
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 75,470.52 $76,866.57
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 105,536.38 $103,730.15
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 6,472,551.72 $3,052.52
META PLATFORMS INC US FB 6,339.65 $1,227,609.84
FHLM POOL G05906 6.00000 04/01/2040 US 3,220.04 $3,558.07
FHLM POOL G13331 5.50000 10/01/2023 US 21.18 $21.53
FHLM POOL G12988 6.00000 01/01/2023 US 11.01 $11.04
FHLM POOL G13078 6.00000 03/01/2023 US 16.29 $16.35
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 16,680.31 $17,185.79
FHLM POOL C91780 4.50000 07/01/2034 US 21,184.06 $22,094.48
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 70,225.89 $67,565.37
FHLM POOL SD8230 4.50000 06/01/2052 US 46,234.98 $47,116.41
FHLM POOL K91364 4.50000 11/01/2033 US 2,527.87 $2,640.73
FHLM POOL K92059 4.50000 09/01/2034 US 16,531.1 $17,212.40
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 32,166.07 $32,088.50
FNR 2018-31 KP 3.50000 07/25/2047 US 1,624.35 $1,634.04
FHMS K030 X1 FLT 0.14558 04/25/2023 US 2,056,598.64 $2,391.68
FHMS K032 X1 FLT 0.06799 05/25/2023 US 1,352,454.35 $1,159.41
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 4,200.72 $4,383.85
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 76,002.04 $83,091.68
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 48,413.22 $47,942.32
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 68,011.98 $67,636.46
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 1.95 $1.95
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 15,868.12 $16,467.78
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 6,394.08 $6,397.96
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 73,772.9 $69,393.21
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 70,386.81 $69,050.42
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 69,955.71 $70,046.46
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 69,352.48 $70,191.29
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 1,096.09 $1,210.36
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 119.59 $123.30
FEDEX CORPORATION US FDX 1,648.85 $370,299.41
FIFTH THIRD BANCORP US FITB 230.18 $9,075.85
FLX 2021-1A A2 3.25000 11/27/2051 US 57,793.73 $53,549.62
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 48,747.75 $46,976.06
FORD MOTOR CREDIT 3.08700 01/09/2023 US 10,051.08 $10,041.85
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 30,123.65 $30,119.58
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 26,889.59 $24,938.26
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 33,865.57 $31,558.53
GENERAL DYNAMICS CORP US GD 69.38 $15,605.17
GENERAL MLS INC US GIS 172.54 $12,052.03
GENUINE PARTS CO US GPC 54.26 $7,418.47
GETTY REALTY CORP US GTY 619.13 $17,298.47
GILEAD SCIENCES INC US GILD 307.29 $19,927.69
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 19,889.46 $19,370.78
GRAPHIC PACKAGING HOLDING CO US GPK 29,576.82 $658,379.98
GREENIDGE GEN HLD INC US 970.53 $19,332.87
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 2,894.62 $167,193.41
GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,255.98 $188,874.75
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 855.14 $185,814.10
AIRBUS SE FR AIR FP 345.69 $40,513.54
ADIDAS AG DE ADS GR 1,488.25 $295,666.63
HCA INC 4.12500 06/15/2029 US 99,732.17 $97,083.90
L'OREAL FR OR FP 45.55 $16,088.95
HAWAII ST 2.68200 10/01/2038 US 5,025.54 $3,979.64
HEALTHCARE REALTY TRUST INC US HR 792.62 $23,041.42
HEALTHCARE TRUST OF AMERICA US HTA 543.58 $16,334.61
HEINEKEN NV-SPN ADR NL HEINY 9,884.36 $498,567.04
HESKA CORP US HSKA 2,679.1 $267,347.09
HOME DEPOT INC US HD 151.47 $45,856.53
HONEYWELL INTERNATIONAL INC US HON 142.35 $27,561.35
HWIRE 2021-1 A2 2.31100 11/20/2051 US 54,275.85 $48,730.39
HUMANA INC US HUM 664.41 $301,793.93
IDEXX LABORATORIES INC US IDXX 1,534.38 $600,894.60
KERRY GROUP PLC-A IE KYGA ID 270.56 $27,999.83
ILLINOIS TOOL WKS INC US ITW 81.58 $16,974.36
IMPRL 2021-NQM3 1.59500 11/25/2056 US 32,138.42 $30,510.29
INDEPENDENCE REALTY TRUST IN US IRT 820.43 $19,288.26
INSPERITY INC US NSP 4,239.54 $424,250.54
INTEL CORP US INTC 755.81 $33,573.28
INTERCONTINENTALEXCHANGE INC US ICE 6,292.16 $644,254.63
INTERNATIONAL FLVRS & FRAGRANCES US IFF 81.13 $10,723.39
INTUITIVE SURGICAL INC US ISRG 808.96 $184,151.00
INVITATION HOMES INC US INVH 1,312.09 $49,492.14
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 12,061.3 $11,797.45
JP MORGAN CHASE & CO US JPM 3,560.43 $470,795.30
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 13,601.15 $13,163.36
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 172,214.18 $174,493.03
JOHNSON & JOHNSON US JNJ 7,934.4 $1,424,462.88
KREF 2021-FL2 A 1.95671 02/15/2039 US 52,265.63 $50,628.81
KEYCORP US KEY 256.9 $5,127.66
KROGER CO US KR 203.46 $10,777.35
L3HARRIS TECHNOLOGIES INC US LHX 2,070.16 $498,701.29
BEIERSDORF AG DE BEI GR 698.08 $72,454.40
LENNAR CORP US LEN 77.02 $6,180.67
LIFE STORAGE INC US LSI 304.71 $35,577.52
LOCKHEED MARTIN CORP US LMT 53.07 $23,355.29
LULULEMON - ADR CA LULU 3,158.81 $924,551.28
MAGALLANES INC 4.05400 03/15/2029 US 169,533.56 $162,521.63
ATOS SE FR ATO FP 2,090.62 $55,034.48
MARATHON PETROLEUM CORP US MPC 111.31 $11,330.29
MARRIOTT VACATIONS WORLD US VAC 129.45 $19,122.72
MASTERCARD INC-CLASS A US MA 4,464.52 $1,597,718.50
MCDONALDS CORP US MCD 93.85 $23,670.96
ACCOR SA FR AC FP 935.76 $30,791.09
MERCADOLIBRE INC AR MELI 48.99 $38,500.41
MERCK & CO INC US MRK 410.17 $37,747.67
MICROSOFT CORP US MSFT 7,120.08 $1,935,734.85
MICROCHIP TECHNOLOGY INC US MCHP 129.39 $9,399.94
MID-AMERICA APARTMENT COMM US MAA 245.61 $44,455.24
MONDELEZ INTERNATIONAL INC US MDLZ 19,999.56 $1,271,172.06
MOODY'S CORPORATION US MCO 3,001.16 $905,059.42
MOTOROLA SOLUTIONS INC US MSI 50.78 $11,159.06
NAVIENT CORP 6.75000 06/25/2025 US 72,371.27 $73,046.86
NETAPP INC US NTAP 91.15 $6,558.34
USRE 2021-1 A1 1.91000 10/20/2061 US 61,562.89 $54,914.25
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 12,440.46 $12,219.69
NRZT 2015-2A A1 3.75000 08/25/2055 US 20,496.62 $19,968.26
NRZT 2016-4A A1 3.75000 11/25/2056 US 39,522.15 $38,623.72
KEYENCE CORP JP 6861 JP 134.02 $53,283.63
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 35,794.07 $34,747.24
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 74,045.3 $67,305.74
NEWMONT GOLDCORP CORP US NEM 3,644.92 $247,307.81
NEXPOINT RESIDENTIAL US NXRT 233.77 $17,177.07
NORFOLK SOUTHN CORP US NSC 1,947.5 $466,738.20
NIKON CORP JP 7731 JP 5,488.17 $68,098.86
NORTHROP GRUMMAN CORP US NOC 1,077.48 $504,227.08
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 43,695.89 $4.37
NOVARTIS AG- REG CH NVS 8,394.4 $763,386.89
NUCOR CORP US NUE 76.39 $10,118.17
NVIDIA CORP US NVDA 1,039.54 $194,103.59
OKTA INC US OKTA 2,866.06 $238,026.21
OMNICOM GROUP US OMC 86.03 $6,418.74
SONY CORP FIRST SECTION JP 6758 JP 563.45 $52,845.34
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 70,806.5 $65,934.86
OXFIN 2020-1A A2 3.10100 02/15/2028 US 48,095.39 $47,817.99
OXFIN 2022-1A 3.60200 02/15/2030 US 48,999.03 $46,640.23
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 8,900.86 $8,462.16
PPG INDUSTRIES INC US PPG 53.56 $6,775.30
PACKAGING CORP OF AMERICA US PKG 39.13 $6,154.16
PARKER HANNIFIN CORP US PH 29.88 $8,132.77
DEUTSCHE BOERSE AG DE DB1 GR 3,410.22 $573,133.08
PAYPAL HOLDINGS INC US PYPL 15,113.7 $1,287,838.02
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 65,120.58 $62,667.67
NESTLE SA-REGISTERED CH NESN SW 8,361.72 $1,022,782.16
PFIZER INC US PFE 605.68 $32,125.38
PIONEER NATURAL RESOURCES CO US PXD 46.52 $12,930.38
POPULAR INC 6.12500 09/14/2023 PR 45,538.76 $46,054.17
PROCTER & GAMBLE CO US PG 333.83 $49,366.08
PROLOGIS US PLD 1,210.45 $154,308.09
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 50,834.52 $44,652.74
PFMT 2021-2 A2A 2.00000 04/25/2051 US 31,163.74 $28,231.72
PUBLIC STORAGE INC US PSA 219.84 $72,687.25
QUALCOMM INC US QCOM 206.88 $29,629.98
QUALCOMM INC 4.25000 05/20/2032 US 69,245.21 $71,902.00
QUEST DIAGNOSTICS INC US DGX 49.79 $7,022.03
RCKT 2021-6 A1 2.50000 12/25/2051 US 55,138.49 $48,365.18
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,041.45 $60,217.61
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 52,128.07 $50,444.26
REGIONS FINANCIAL CORP. US RF 362.82 $8,014.66
REPUBLIC SERVICES INC US RSG 88.86 $11,892.52
RESTAURANT BRANDS INTERN CA QSR 593.5 $31,164.51
REXFORD INDUSTRIAL REALITY IN US REXR 747.54 $47,745.22
GETINGE AB-B SHS SE GETIB SS 1,857.38 $53,903.40
ROSS STORES INC US ROST 73.05 $6,210.95
HEINEKEN NV NL HEIA NA 469.52 $47,211.78
RYANAIR HOLDINGS - ADR IE RYAAY 6,551.39 $571,281.63
S&P GLOBAL INC US SPGI 1,547.4 $540,786.65
SBA COMMUNICATIONS CORP US SBAC 3,502.29 $1,178,905.83
NAVIENT CORP 5.50000 01/25/2023 US 23,872.32 $23,972.68
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 42,638.2 $36,774.88
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 42,177.77 $40,268.68
SMB 2020-BA A1A 1.29000 07/15/2053 US 41,102.29 $38,322.20
SALESFORCE INC US CRM 5,048.26 $808,933.82
SEA LTD - ADR SG SE 9,255.57 $765,065.77
SEAGEN INC US SGEN 6,356.48 $862,447.86
SEMT 2013-6 A2 3.00000 05/25/2043 US 15,352.62 $14,377.65
SEMT 2013-7 A2 3.00000 06/25/2043 US 6,643.79 $6,225.34
SEMT 2013-8 A1 3.00000 06/25/2043 US 7,841.07 $7,364.59
SEMT 2013-2 1.87400 02/25/2043 US 6,618.94 $5,994.50
SERVICENOW INC US NOW 2,577.93 $1,205,102.99
SHOPIFY INC CA SHOP 55.96 $20,991.45
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 221,633.33 $191,410.40
SKYWORKS SOLUTIONS INC US SWKS 45.31 $4,932.95
JM SMUCKER CO/THE-NEW COM WI US SJM 45.1 $5,654.67
SNOWFLAKE INC-CLASS A US SNOW 1,986.65 $253,595.23
SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,107.75 $3,069.03
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 14,401.79 $14,303.58
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 26,855.93 $26,194.69
SONY CORP SPONSORED ADR JP SONY 8,486.01 $798,279.43
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 97,244.23 $87,550.61
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 64,829.49 $67,672.56
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 64,051.82 $66,783.15
STANLEY BLACK & DECKER INC US SWK 42.9 $5,092.23
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 66,815.2 $45,928.47
STEEL DYNAMICS INC US STLD 76.12 $6,499.00
SUN COMMUNITIES US SUI 363.75 $59,702.87
SYNCHRONOSS TECH US 1,948.84 $43,225.30
SYNERGY ONE LENDING 5.50000 10/14/2026 US 50,396.94 $44,954.35
TJX COMPANIES INC US TJX 198.27 $12,603.90
TACORA RESOURCES INC 8.25000 05/15/2026 CA 23,872.32 $22,776.71
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 6,500.3 $619,478.50
TARGET CORP US TGT 77.22 $12,500.17
TENCENT HOLDINGS 3.97500 04/11/2029 KY 283,952.03 $273,599.15
TERRENO REALTY CORP US TRNO 417.16 $25,325.82
TEXAS INSTRUMENTS INC US TXN 129.27 $22,850.63
THERMO FISHER SCIENTIFIC INC US TMO 1,179.88 $669,666.98
3M CO US MMM 136.71 $20,409.07
TPMT 2016-5 A1 2.50000 10/25/2056 US 20,585.41 $20,495.52
TPMT 2017-1 A1 2.75000 10/25/2056 US 10,867.49 $10,824.71
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 18,348.79 $18,166.11
TRACTOR SUPPLY COMPANY US TSCO 28.59 $5,356.86
TRAVELLERS COS INC US TRV 69.88 $12,510.51
TAH 2017-SFR2 A 2.92800 01/17/2036 US 35,495.8 $35,087.79
TCF 2021-1A 1.86000 03/20/2046 US 44,139.96 $38,729.01
TYSON FOODS INC -CL A US TSN 112.33 $10,065.61
UDR INC US UDR 900.72 $43,054.55
U.S. BANCORP US USB 354.12 $18,793.06
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 34,115.55 $360,260.26
UNILEVER PLC - ADR GB UL 19,633.27 $948,876.01
UNION PAC CORP US UNP 122.95 $27,021.51
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 61,701.28 $55,538.50
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,029.42 $6,584.93
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 10,051.08 $10,204.78
UNITED PARCEL SERVICE US UPS 2,103.31 $383,327.91
US TREASURY N/BB 3.87500 08/15/2040 US 312,337.42 $342,204.68
US TREASURY N/B 2.50000 02/15/2045 US 175,140.13 $151,633.04
US TREASURY N/B 3.00000 05/15/2047 US 634,588.63 $604,941.45
US TREASURY N/B 2.00000 02/15/2050 US 571,121 $450,560.93
US TREASURY N/B 2.87500 05/15/2028 US 4,858,662.11 $4,857,143.78
US TREASURY N/B 1.62500 05/15/2026 US 329,172.98 $314,694.51
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 458,749.49 $457,082.94
US TREASURY N/B 2.50000 05/15/2024 US 303,793.99 $303,758.39
US TREASURY N/B 2.37500 05/15/2027 US 341,485.56 $334,095.60
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 331,937.03 $326,335.59
US TREASURY N/B 1.62500 05/15/2031 US 450,165.86 $407,118.75
UNITEDHEALTH GROUP INC US UNH 660.43 $328,086.50
UNIVERSAL DISPLAY CORP US OLED 3,919.28 $495,044.09
VF CORP US VFC 108.74 $5,486.83
VENTAS INC US VTR 438.19 $24,862.62
VERTEX PHARMACEUTICALS INC US VRTX 2,993.99 $804,334.17
PARAMOUNT GLOBAL CLASS B US PARA 178.47 $6,126.75
VISA INC - CLASS A SHARES US V 5,948.5 $1,262,094.29
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 31,410.63 $30,832.43
VISTRA OPERATIONS 4.87500 05/13/2024 US 114,390.66 $114,825.17
WAL MART STORES US WMT 366.78 $47,178.62
WALGREENS BOOTS ALLIANCE INC US WBA 196.72 $8,622.04
WARRIOR MET COAL INC 7.87500 12/01/2028 US 22,504.2 $22,826.02
WASTE MANAGEMENT INC US WM 97.32 $15,426.49
WELLTOWER INC. US WELL 506.23 $45,099.88
WIN 2015-1 A1 3.50000 01/20/2045 US 3,959.31 $3,785.37
ZOETIS INC US ZTS 1,334.41 $228,090.56
BNY MELLON CASH RESERVE EOD FUND US 87.47 $87.47
ADMIRAL GROUP PLC GB ADM LN 2,361.9 $66,127.07
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,883.13 $20,776.18
UBISOFT ENTERTAINMENT FR UBI FP 1,118.76 $58,816.64
DANONE FR BN FP 535.29 $31,494.93
AIR LIQUIDE FR AI FP 595.75 $104,356.70
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 26,635.37 $21,058.13
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 155,791.79 $7,914.89
BRENNTAG AG DE BNR GR 4,553.25 $352,314.49
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 75,383.13 $3,624.43
KEYWORDS STUDIOS PLC IE KWS LN 483.31 $14,280.81
S4 CAPITAL PLC GB SFOR LN 9,716.47 $34,751.75
HELIOS TOWERS PLC GB HTWS LN 10,890.91 $15,603.85
AVANZA BANK HOLDING AB SE AZA SS 1,934.21 $46,599.56
AMERICAN TANKER INC 7.75000 07/02/2025 US 48,526.27 $46,099.96
SOFTWAREONE HOLDING AG CH SWON SW 3,492.73 $46,648.01
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,284.78 $22,714.92
SEASPAN CORP 6.50000 02/05/2024 MH 44,673.69 $44,561.34
PETROTAL CORP 12.00000 02/16/2024 CA 38,418.97 $39,571.54
FINECOBANK SPA IT FBK IM 6,223.39 $88,189.04
ALLFUNDS GROUP PLC GB ALLFG NA 3,711.63 $33,855.62
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 31,438.64 $31,418.91
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 54,724.77 $54,815.79
KENT GLOBAL PLC 10.00000 06/28/2026 GB 25,352.17 $25,098.65
ROTORK PLC GB ROR LN 12,428.82 $43,742.12
AUTO TRADER GROUP PLC GB AUTO LN 10,735.97 $79,866.69
CELLNEX TELECOM SA ES CLNX SM 344.22 $15,534.37
ASSA ABLOY AB-B SE ASSAB SS 2,699.17 $66,537.59
CLEANAWAY WASTE MANAGEMENT AU CWY AU 25,075.23 $53,738.85
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,782.95 $55,253.27
ADYEN NV NL ADYEN NA 46.6 $72,168.24
BANK OF N.T. BUTTERFIELD&SON BM NTB 934.16 $29,500.66
BUNGE LIMITED US BG 55.78 $6,599.33
EATON CORP PLC US ETN 108.69 $15,064.63
JOHNSON CONTROLS INTERNATIONAL US JCI 202.04 $11,013.37
MEDTRONIC INC IE MDT 14,010.01 $1,403,102.41
ROYALTY PHARMA PLC- CL A US RPRX 149.27 $6,140.82
STONECO LTD-A BR STNE 3,274.92 $32,880.22
TRANE TECHNOLOGIES IE TT 52.15 $7,199.98
ALCON INC CH ALC 6,299.99 $470,798.31
CHUBB LTD CH CB 95.5 $20,178.51
GARMIN LTD CH GRMN 71.39 $7,540.67
TE CONNECTIVITY LIMITED CH TEL 70.75 $9,154.62
LYONDELLBASELL INDU-CL A US LYB 76.97 $8,793.53
PLAYA HOTELS AND RESORTS US PLYA 1,788.63 $15,453.76
US DOLLAR US 3,765,885.46 $3,765,885.46
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 8,655.65 $8,746.77
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 40,093.59 $40,056.96

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

A Word About Risk

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

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns.

Daily Price

$23.69

Daily $ Change

$0.54

Daily % Change

2.28%

as of 06/24/2022

CUSIP

302027586

Inception Date

05/31/2007

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in a 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 64% - 90%.

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 2040
  • Who have time to pursue growth and can accept 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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 05/31/2022

YTD

-13.56%

1 Year

-8.41%

3 Year

10.28%

5 Year

8.84%

10 Year

9.77%

Inception
(01/01/2000)

7.46%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.70%
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 05/31/2022

TREASURY NOTES 9.93%
AMAZON.COM INC 2.90%
MICROSOFT CORP 2.62%
MASTERCARD INC-CLASS A 2.16%
JOHNSON & JOHNSON 1.93%
MEDTRONIC INC 1.90%
COCA COLA CO/THE 1.75%
PAYPAL HOLDINGS INC 1.74%
MONDELEZ INTERNATIONAL INC 1.72%
VISA INC - CLASS A SHARES 1.71%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2022

Stocks
76.31%
Bonds
18.84%
Cash
4.85%

Detailed Asset Class Allocation

As of 05/31/2022

International Equities
20.88%
Small Capitalization
1.92%
Mid Capitalization
6.10%
Large Capitalization
47.41%
Long Term Fixed Income
4.17%
Intermediate Term Fixed Income
12.40%
Short Term Fixed Income
2.27%
Cash
4.85%

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

May Fund Holdings

As of 05/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 224.36 $26,353.70
ACCOR SA-SPONSORED ADR FR ACCYY 45,146.49 $302,030.01
ACTIVISION INC US ATVI 5,467.52 $425,810.77
ADIDAS AG-SPONSORED ADR DE ADDYY 3,254.02 $322,603.23
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 71,811.61 $62,975.73
ADYEN NV UNSPON ADR NL ADYEY 35,949.29 $556,494.96
AGREE REALTY CORP US ADC 227.79 $15,847.34
AIR LIQUIDE-ADR FR AIQUY 17,292.6 $603,684.63
AIR LEASE CORP 3.62500 04/01/2027 US 70,303.95 $66,858.75
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 14,914.26 $15,647.13
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 151,720.7 $132,094.62
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 63,882.97 $53,140.75
ALIGN TECHNOLOGY INC US ALGN 1,576.19 $437,614.50
ALLSTATE CORPORATION US ALL 82.39 $11,261.85
ALPHABET INC-CL A US GOOGL 383.6 $872,776.80
AMAZON.COM INC US AMZN 891.98 $2,144,485.97
AMAZON.COM INC 3.30000 04/13/2027 US 146,527.31 $146,392.32
DIAGEO PLC GB DGE LN 12,044.19 $559,588.33
AMERICAN HOMES 4 RENT- A US AMH 811.16 $29,980.40
AMERICAN TOWER REIT INC US AMT 121.4 $31,094.21
ANALOG DEVICES INC US ADI 125.14 $21,073.07
APPLE HOSPITALITY REIT INC US APLE 2,764.9 $46,201.41
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 14,183.75 $14,348.29
ARCHER-DANIELS-MIDLAND CO US ADM 147.69 $13,413.36
ARGO BLOCKCHAIN PLC GB 623.21 $13,068.65
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 64,775.85 $61,595.45
AUTOMATIC DATA PROCESSING US ADP 86.67 $19,322.84
AVALONBAY COMMUNITIES INC US AVB 192.58 $40,048.12
AVALON HOLDINGS FNDG LTD 2.75000 02/21/2028 KY 190,194.9 $164,810.57
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 51,150.28 $51,782.98
BANK OF AMERICA CORP 2.68700 04/22/2032 US 121,119.52 $105,968.81
BARRICK GOLD CORP CA GOLD 11,948.9 $244,832.88
BAXTER INTERNATIONAL INC US BAX 113.75 $8,650.32
BEST BUY INC US BBY 78.37 $6,430.96
BIOMARIN PHARMACEUTICAL INC US BMRN 9,995.01 $750,924.73
BLACKROCK INC US BLK 995.73 $666,221.62
BLACKSTONE PRIVATE CRE 2.62500 12/15/2026 US 73,542.74 $63,984.80
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 73,542.74 $66,905.04
DECHRA PHARMACEUTICALS PLC GB DPH LN 1,227.17 $56,250.56
BOSTON SCIENTIFIC CORP US BSX 7,462.9 $306,053.61
BRANDYWINE REALTY TRUST US BDN 1,375.22 $15,333.66
BABS 2021-RM2 A 1.75000 10/25/2061 US 34,067 $30,823.31
BRISTOL MYERS SQUIBB CO US BMY 387.87 $29,264.75
BROADRIDGE FINANCIAL SOLUTIONS US BR 43.84 $6,410.55
JONAH ENERGY PARENT LLC US 578.1 $31,021.08
CBOE GLOBAL MARKETS INC US CBOE 2,442.62 $274,331.17
CDW CORP/DE US CDW 1,576.89 $267,849.93
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 34,695.22 $31,830.45
SORT 2020-1 A2 1.99000 07/15/2060 US 28,385.25 $24,924.91
C.H. ROBINSON WORLDWIDE INC US CHRW 54.83 $5,949.77
CIM 2019-INV1 A1 4.00000 02/25/2049 US 1,970.15 $1,967.86
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 10,371.61 $9,730.98
COTERRA ENERGY INC US CTRA 203.84 $6,997.67
CAMDEN PROPERTY TRUST US CPT 185.47 $26,612.72
CAMECO CORP CA CCJ 800.32 $19,583.90
CAMPBELL SOUP CO US CPB 124.22 $5,951.17
CANADIAN NATIONAL RAILWAY CO CA CNI 7,924.15 $901,609.46
CARETRUST REIT INC US CTRE 918.27 $17,015.51
CATERPILLAR INC US CAT 110.76 $23,908.22
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 161,045.76 $181,483.30
CENTURYLINK INC 7.50000 04/01/2024 US 44,170.64 $45,695.39
CHARTER COMMUNICATIONS INC-A US CHTR 1,753.18 $888,737.51
CHEVRON CORP US CVX 208.52 $36,419.24
CINCINNATI FINANCIAL CORP US CINF 60.11 $7,685.49
CISCO SYSTEMS INC US CSCO 707.64 $31,879.13
CITIGROUP INC US C 433.79 $23,168.94
CITIGROUP INC 1.46200 06/09/2027 US 115,144.49 $103,718.98
CLARK CNTY NV 1.51000 11/01/2028 US 60,589.56 $53,303.06
COCA COLA CO/THE US KO 20,385.53 $1,292,035.15
COGNEX CORP US CGNX 4,280.22 $207,248.22
COLGATE-PALMOLIVE CO US CL 206.97 $16,311.62
COMCAST CORP-CL A US CMCSA 758.87 $33,602.70
COMMUNITY HEALTHCARE TRUST I US CHCT 478.42 $18,026.83
CONAGRA BRAND INC. US CAG 187.88 $6,179.42
CONOCOPHILLIPS US COP 187.72 $21,092.77
CONSTELLATION BRANDS INC-A US STZ 3,754.65 $921,653.49
CONTROLADORA VUELA CIA DE AV MX VLRS 1,529.9 $23,835.89
COPART INC US CPRT 2,937.4 $336,420.56
COUSINS PROPERTIES INC US CUZ 1,132.59 $39,130.96
CAALT 2020-1A 2.01000 02/15/2029 US 27,823.75 $27,773.36
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 86,497.91 $78,663.91
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 5,894.14 $5,373.01
CUMMINS INC US CMI 47.66 $9,966.95
KIMBERLY CLARK DE MEXICO S.A.B. MX 34,056.47 $52,692.74
DEVON ENERGY CORPORATION US DVN 146.11 $10,943.32
DIAMONDBACK ENERGY INC US FANG 43.06 $6,545.97
DIGITAL REALTY TRUST INC US DLR 349.24 $48,750.45
WALT DISNEY CO/THE US DIS 2,490.06 $275,001.96
DOLLAR GENERAL CORP US DG 3,501.78 $771,581.82
DOLLAR TREE STORES INC US DLTR 4,987.44 $799,636.40
DOMINO'S PIZZA US DPZ 1,012.54 $367,723.43
DOUBLEVERIFY HOLDINGS INC US DV 19,145.78 $425,993.61
DOW INC US DOW 152.44 $10,362.75
DUKE RLTY INVTS INC US DRE 790.13 $41,742.76
EOG RESOURCES INC US EOG 101.1 $13,846.22
EAST WEST BANCORP INC US EWBC 5,838.58 $429,369.37
EASTMAN CHEM CO US EMN 54.36 $5,987.96
EBAY INC US EBAY 139.18 $6,773.96
ECO MATERIAL TECH INC 7.87500 01/31/2027 US 23,621.04 $22,383.52
ELECTRONIC ARTS US EA 5,406.39 $749,596.22
EMERSON ELEC CO US EMR 160.19 $14,202.38
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 160,543.21 $167,885.95
EQUINIX INC US EQIX 1,311.56 $901,156.30
EQUITY LIFESTYLE PROPERTIES US ELS 698.93 $52,908.79
ESSEX PROPERTY TRUST INC US ESS 118.69 $33,690.66
EXPEDIA INC US EXPE 2,582.5 $333,994.72
EXPEDIA GROUP INC 3.25000 02/15/2030 US 69,801.39 $61,721.31
EXTRA SPACE STORAGE INC US EXR 173.49 $30,915.80
FMC CORP US FMC 6,770.88 $829,974.53
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 75,470.52 $76,866.57
FREMF 2015-K43 B FLT 3.73230 02/25/2048 US 105,536.38 $103,730.15
FREMF 2013-K28 X2A 0.10000 06/25/2046 US 6,472,551.72 $3,052.52
META PLATFORMS INC US FB 6,339.65 $1,227,609.84
FHLM POOL G05906 6.00000 04/01/2040 US 3,220.04 $3,558.07
FHLM POOL G13331 5.50000 10/01/2023 US 21.18 $21.53
FHLM POOL G12988 6.00000 01/01/2023 US 11.01 $11.04
FHLM POOL G13078 6.00000 03/01/2023 US 16.29 $16.35
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 16,680.31 $17,185.79
FHLM POOL C91780 4.50000 07/01/2034 US 21,184.06 $22,094.48
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 70,225.89 $67,565.37
FHLM POOL SD8230 4.50000 06/01/2052 US 46,234.98 $47,116.41
FHLM POOL K91364 4.50000 11/01/2033 US 2,527.87 $2,640.73
FHLM POOL K92059 4.50000 09/01/2034 US 16,531.1 $17,212.40
FNA 2017-M15 A1 FLT 2.95843 09/25/2027 US 32,166.07 $32,088.50
FNR 2018-31 KP 3.50000 07/25/2047 US 1,624.35 $1,634.04
FHMS K030 X1 FLT 0.14558 04/25/2023 US 2,056,598.64 $2,391.68
FHMS K032 X1 FLT 0.06799 05/25/2023 US 1,352,454.35 $1,159.41
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 4,200.72 $4,383.85
FEDERAL NATL MTG ASSN AL8674 FLT 5.65900 01/01/2049 US 76,002.04 $83,091.68
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 48,413.22 $47,942.32
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 68,011.98 $67,636.46
FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 1.95 $1.95
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 15,868.12 $16,467.78
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 6,394.08 $6,397.96
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 73,772.9 $69,393.21
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 70,386.81 $69,050.42
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 69,955.71 $70,046.46
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 69,352.48 $70,191.29
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 1,096.09 $1,210.36
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 119.59 $123.30
FEDEX CORPORATION US FDX 1,648.85 $370,299.41
FIFTH THIRD BANCORP US FITB 230.18 $9,075.85
FLX 2021-1A A2 3.25000 11/27/2051 US 57,793.73 $53,549.62
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 48,747.75 $46,976.06
FORD MOTOR CREDIT 3.08700 01/09/2023 US 10,051.08 $10,041.85
FREMF 2015-K720 B FLT 3.45856 07/25/2022 US 30,123.65 $30,119.58
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 26,889.59 $24,938.26
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 33,865.57 $31,558.53
GENERAL DYNAMICS CORP US GD 69.38 $15,605.17
GENERAL MLS INC US GIS 172.54 $12,052.03
GENUINE PARTS CO US GPC 54.26 $7,418.47
GETTY REALTY CORP US GTY 619.13 $17,298.47
GILEAD SCIENCES INC US GILD 307.29 $19,927.69
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 19,889.46 $19,370.78
GRAPHIC PACKAGING HOLDING CO US GPK 29,576.82 $658,379.98
GREENIDGE GEN HLD INC US 970.53 $19,332.87
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 2,894.62 $167,193.41
GRUPO AEROPORTUARIO PAC-ADR MX PAC 1,255.98 $188,874.75
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 855.14 $185,814.10
AIRBUS SE FR AIR FP 345.69 $40,513.54
ADIDAS AG DE ADS GR 1,488.25 $295,666.63
HCA INC 4.12500 06/15/2029 US 99,732.17 $97,083.90
L'OREAL FR OR FP 45.55 $16,088.95
HAWAII ST 2.68200 10/01/2038 US 5,025.54 $3,979.64
HEALTHCARE REALTY TRUST INC US HR 792.62 $23,041.42
HEALTHCARE TRUST OF AMERICA US HTA 543.58 $16,334.61
HEINEKEN NV-SPN ADR NL HEINY 9,884.36 $498,567.04
HESKA CORP US HSKA 2,679.1 $267,347.09
HOME DEPOT INC US HD 151.47 $45,856.53
HONEYWELL INTERNATIONAL INC US HON 142.35 $27,561.35
HWIRE 2021-1 A2 2.31100 11/20/2051 US 54,275.85 $48,730.39
HUMANA INC US HUM 664.41 $301,793.93
IDEXX LABORATORIES INC US IDXX 1,534.38 $600,894.60
KERRY GROUP PLC-A IE KYGA ID 270.56 $27,999.83
ILLINOIS TOOL WKS INC US ITW 81.58 $16,974.36
IMPRL 2021-NQM3 1.59500 11/25/2056 US 32,138.42 $30,510.29
INDEPENDENCE REALTY TRUST IN US IRT 820.43 $19,288.26
INSPERITY INC US NSP 4,239.54 $424,250.54
INTEL CORP US INTC 755.81 $33,573.28
INTERCONTINENTALEXCHANGE INC US ICE 6,292.16 $644,254.63
INTERNATIONAL FLVRS & FRAGRANCES US IFF 81.13 $10,723.39
INTUITIVE SURGICAL INC US ISRG 808.96 $184,151.00
INVITATION HOMES INC US INVH 1,312.09 $49,492.14
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 12,061.3 $11,797.45
JP MORGAN CHASE & CO US JPM 3,560.43 $470,795.30
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 13,601.15 $13,163.36
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 172,214.18 $174,493.03
JOHNSON & JOHNSON US JNJ 7,934.4 $1,424,462.88
KREF 2021-FL2 A 1.95671 02/15/2039 US 52,265.63 $50,628.81
KEYCORP US KEY 256.9 $5,127.66
KROGER CO US KR 203.46 $10,777.35
L3HARRIS TECHNOLOGIES INC US LHX 2,070.16 $498,701.29
BEIERSDORF AG DE BEI GR 698.08 $72,454.40
LENNAR CORP US LEN 77.02 $6,180.67
LIFE STORAGE INC US LSI 304.71 $35,577.52
LOCKHEED MARTIN CORP US LMT 53.07 $23,355.29
LULULEMON - ADR CA LULU 3,158.81 $924,551.28
MAGALLANES INC 4.05400 03/15/2029 US 169,533.56 $162,521.63
ATOS SE FR ATO FP 2,090.62 $55,034.48
MARATHON PETROLEUM CORP US MPC 111.31 $11,330.29
MARRIOTT VACATIONS WORLD US VAC 129.45 $19,122.72
MASTERCARD INC-CLASS A US MA 4,464.52 $1,597,718.50
MCDONALDS CORP US MCD 93.85 $23,670.96
ACCOR SA FR AC FP 935.76 $30,791.09
MERCADOLIBRE INC AR MELI 48.99 $38,500.41
MERCK & CO INC US MRK 410.17 $37,747.67
MICROSOFT CORP US MSFT 7,120.08 $1,935,734.85
MICROCHIP TECHNOLOGY INC US MCHP 129.39 $9,399.94
MID-AMERICA APARTMENT COMM US MAA 245.61 $44,455.24
MONDELEZ INTERNATIONAL INC US MDLZ 19,999.56 $1,271,172.06
MOODY'S CORPORATION US MCO 3,001.16 $905,059.42
MOTOROLA SOLUTIONS INC US MSI 50.78 $11,159.06
NAVIENT CORP 6.75000 06/25/2025 US 72,371.27 $73,046.86
NETAPP INC US NTAP 91.15 $6,558.34
USRE 2021-1 A1 1.91000 10/20/2061 US 61,562.89 $54,914.25
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 12,440.46 $12,219.69
NRZT 2015-2A A1 3.75000 08/25/2055 US 20,496.62 $19,968.26
NRZT 2016-4A A1 3.75000 11/25/2056 US 39,522.15 $38,623.72
KEYENCE CORP JP 6861 JP 134.02 $53,283.63
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 35,794.07 $34,747.24
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 74,045.3 $67,305.74
NEWMONT GOLDCORP CORP US NEM 3,644.92 $247,307.81
NEXPOINT RESIDENTIAL US NXRT 233.77 $17,177.07
NORFOLK SOUTHN CORP US NSC 1,947.5 $466,738.20
NIKON CORP JP 7731 JP 5,488.17 $68,098.86
NORTHROP GRUMMAN CORP US NOC 1,077.48 $504,227.08
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 43,695.89 $4.37
NOVARTIS AG- REG CH NVS 8,394.4 $763,386.89
NUCOR CORP US NUE 76.39 $10,118.17
NVIDIA CORP US NVDA 1,039.54 $194,103.59
OKTA INC US OKTA 2,866.06 $238,026.21
OMNICOM GROUP US OMC 86.03 $6,418.74
SONY CORP FIRST SECTION JP 6758 JP 563.45 $52,845.34
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 70,806.5 $65,934.86
OXFIN 2020-1A A2 3.10100 02/15/2028 US 48,095.39 $47,817.99
OXFIN 2022-1A 3.60200 02/15/2030 US 48,999.03 $46,640.23
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 8,900.86 $8,462.16
PPG INDUSTRIES INC US PPG 53.56 $6,775.30
PACKAGING CORP OF AMERICA US PKG 39.13 $6,154.16
PARKER HANNIFIN CORP US PH 29.88 $8,132.77
DEUTSCHE BOERSE AG DE DB1 GR 3,410.22 $573,133.08
PAYPAL HOLDINGS INC US PYPL 15,113.7 $1,287,838.02
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 65,120.58 $62,667.67
NESTLE SA-REGISTERED CH NESN SW 8,361.72 $1,022,782.16
PFIZER INC US PFE 605.68 $32,125.38
PIONEER NATURAL RESOURCES CO US PXD 46.52 $12,930.38
POPULAR INC 6.12500 09/14/2023 PR 45,538.76 $46,054.17
PROCTER & GAMBLE CO US PG 333.83 $49,366.08
PROLOGIS US PLD 1,210.45 $154,308.09
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 50,834.52 $44,652.74
PFMT 2021-2 A2A 2.00000 04/25/2051 US 31,163.74 $28,231.72
PUBLIC STORAGE INC US PSA 219.84 $72,687.25
QUALCOMM INC US QCOM 206.88 $29,629.98
QUALCOMM INC 4.25000 05/20/2032 US 69,245.21 $71,902.00
QUEST DIAGNOSTICS INC US DGX 49.79 $7,022.03
RCKT 2021-6 A1 2.50000 12/25/2051 US 55,138.49 $48,365.18
RADIUS GLOBAL INFRASTRUCTURE US RADI 4,041.45 $60,217.61
RAILWORKS HOLDINGS LP/R 8.25000 11/15/2028 US 52,128.07 $50,444.26
REGIONS FINANCIAL CORP. US RF 362.82 $8,014.66
REPUBLIC SERVICES INC US RSG 88.86 $11,892.52
RESTAURANT BRANDS INTERN CA QSR 593.5 $31,164.51
REXFORD INDUSTRIAL REALITY IN US REXR 747.54 $47,745.22
GETINGE AB-B SHS SE GETIB SS 1,857.38 $53,903.40
ROSS STORES INC US ROST 73.05 $6,210.95
HEINEKEN NV NL HEIA NA 469.52 $47,211.78
RYANAIR HOLDINGS - ADR IE RYAAY 6,551.39 $571,281.63
S&P GLOBAL INC US SPGI 1,547.4 $540,786.65
SBA COMMUNICATIONS CORP US SBAC 3,502.29 $1,178,905.83
NAVIENT CORP 5.50000 01/25/2023 US 23,872.32 $23,972.68
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 42,638.2 $36,774.88
SMB 2020-A A2A MTGE 2.23000 09/15/2037 US 42,177.77 $40,268.68
SMB 2020-BA A1A 1.29000 07/15/2053 US 41,102.29 $38,322.20
SALESFORCE INC US CRM 5,048.26 $808,933.82
SEA LTD - ADR SG SE 9,255.57 $765,065.77
SEAGEN INC US SGEN 6,356.48 $862,447.86
SEMT 2013-6 A2 3.00000 05/25/2043 US 15,352.62 $14,377.65
SEMT 2013-7 A2 3.00000 06/25/2043 US 6,643.79 $6,225.34
SEMT 2013-8 A1 3.00000 06/25/2043 US 7,841.07 $7,364.59
SEMT 2013-2 1.87400 02/25/2043 US 6,618.94 $5,994.50
SERVICENOW INC US NOW 2,577.93 $1,205,102.99
SHOPIFY INC CA SHOP 55.96 $20,991.45
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 221,633.33 $191,410.40
SKYWORKS SOLUTIONS INC US SWKS 45.31 $4,932.95
JM SMUCKER CO/THE-NEW COM WI US SJM 45.1 $5,654.67
SNOWFLAKE INC-CLASS A US SNOW 1,986.65 $253,595.23
SOFI 2017-F A2FX 2.84000 01/25/2041 US 3,107.75 $3,069.03
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 14,401.79 $14,303.58
SOFI 2020-A A2FX MTGE 2.54000 05/15/2046 US 26,855.93 $26,194.69
SONY CORP SPONSORED ADR JP SONY 8,486.01 $798,279.43
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 97,244.23 $87,550.61
SOUTHWEST AIRLINES CO 5.25000 05/04/2025 US 64,829.49 $67,672.56
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 64,051.82 $66,783.15
STANLEY BLACK & DECKER INC US SWK 42.9 $5,092.23
SRPT 2014-STAR A FLTG RATE 2.34500 11/15/2027 US 66,815.2 $45,928.47
STEEL DYNAMICS INC US STLD 76.12 $6,499.00
SUN COMMUNITIES US SUI 363.75 $59,702.87
SYNCHRONOSS TECH US 1,948.84 $43,225.30
SYNERGY ONE LENDING 5.50000 10/14/2026 US 50,396.94 $44,954.35
TJX COMPANIES INC US TJX 198.27 $12,603.90
TACORA RESOURCES INC 8.25000 05/15/2026 CA 23,872.32 $22,776.71
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 6,500.3 $619,478.50
TARGET CORP US TGT 77.22 $12,500.17
TENCENT HOLDINGS 3.97500 04/11/2029 KY 283,952.03 $273,599.15
TERRENO REALTY CORP US TRNO 417.16 $25,325.82
TEXAS INSTRUMENTS INC US TXN 129.27 $22,850.63
THERMO FISHER SCIENTIFIC INC US TMO 1,179.88 $669,666.98
3M CO US MMM 136.71 $20,409.07
TPMT 2016-5 A1 2.50000 10/25/2056 US 20,585.41 $20,495.52
TPMT 2017-1 A1 2.75000 10/25/2056 US 10,867.49 $10,824.71
TPMT 2019-HY1 A1 2.00571 10/25/2048 US 18,348.79 $18,166.11
TRACTOR SUPPLY COMPANY US TSCO 28.59 $5,356.86
TRAVELLERS COS INC US TRV 69.88 $12,510.51
TAH 2017-SFR2 A 2.92800 01/17/2036 US 35,495.8 $35,087.79
TCF 2021-1A 1.86000 03/20/2046 US 44,139.96 $38,729.01
TYSON FOODS INC -CL A US TSN 112.33 $10,065.61
UDR INC US UDR 900.72 $43,054.55
U.S. BANCORP US USB 354.12 $18,793.06
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 34,115.55 $360,260.26
UNILEVER PLC - ADR GB UL 19,633.27 $948,876.01
UNION PAC CORP US UNP 122.95 $27,021.51
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 61,701.28 $55,538.50
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,029.42 $6,584.93
UNITED MEXICAN STATES 4.12500 01/21/2026 MX 10,051.08 $10,204.78
UNITED PARCEL SERVICE US UPS 2,103.31 $383,327.91
US TREASURY N/BB 3.87500 08/15/2040 US 312,337.42 $342,204.68
US TREASURY N/B 2.50000 02/15/2045 US 175,140.13 $151,633.04
US TREASURY N/B 3.00000 05/15/2047 US 634,588.63 $604,941.45
US TREASURY N/B 2.00000 02/15/2050 US 571,121 $450,560.93
US TREASURY N/B 2.87500 05/15/2028 US 4,858,662.11 $4,857,143.78
US TREASURY N/B 1.62500 05/15/2026 US 329,172.98 $314,694.51
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 458,749.49 $457,082.94
US TREASURY N/B 2.50000 05/15/2024 US 303,793.99 $303,758.39
US TREASURY N/B 2.37500 05/15/2027 US 341,485.56 $334,095.60
UNITED STATES TREAS NTS 2.12500 05/15/2025 US 331,937.03 $326,335.59
US TREASURY N/B 1.62500 05/15/2031 US 450,165.86 $407,118.75
UNITEDHEALTH GROUP INC US UNH 660.43 $328,086.50
UNIVERSAL DISPLAY CORP US OLED 3,919.28 $495,044.09
VF CORP US VFC 108.74 $5,486.83
VENTAS INC US VTR 438.19 $24,862.62
VERTEX PHARMACEUTICALS INC US VRTX 2,993.99 $804,334.17
PARAMOUNT GLOBAL CLASS B US PARA 178.47 $6,126.75
VISA INC - CLASS A SHARES US V 5,948.5 $1,262,094.29
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 31,410.63 $30,832.43
VISTRA OPERATIONS 4.87500 05/13/2024 US 114,390.66 $114,825.17
WAL MART STORES US WMT 366.78 $47,178.62
WALGREENS BOOTS ALLIANCE INC US WBA 196.72 $8,622.04
WARRIOR MET COAL INC 7.87500 12/01/2028 US 22,504.2 $22,826.02
WASTE MANAGEMENT INC US WM 97.32 $15,426.49
WELLTOWER INC. US WELL 506.23 $45,099.88
WIN 2015-1 A1 3.50000 01/20/2045 US 3,959.31 $3,785.37
ZOETIS INC US ZTS 1,334.41 $228,090.56
BNY MELLON CASH RESERVE EOD FUND US 87.47 $87.47
ADMIRAL GROUP PLC GB ADM LN 2,361.9 $66,127.07
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,883.13 $20,776.18
UBISOFT ENTERTAINMENT FR UBI FP 1,118.76 $58,816.64
DANONE FR BN FP 535.29 $31,494.93
AIR LIQUIDE FR AI FP 595.75 $104,356.70
CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 26,635.37 $21,058.13
MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 155,791.79 $7,914.89
BRENNTAG AG DE BNR GR 4,553.25 $352,314.49
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 75,383.13 $3,624.43
KEYWORDS STUDIOS PLC IE KWS LN 483.31 $14,280.81
S4 CAPITAL PLC GB SFOR LN 9,716.47 $34,751.75
HELIOS TOWERS PLC GB HTWS LN 10,890.91 $15,603.85
AVANZA BANK HOLDING AB SE AZA SS 1,934.21 $46,599.56
AMERICAN TANKER INC 7.75000 07/02/2025 US 48,526.27 $46,099.96
SOFTWAREONE HOLDING AG CH SWON SW 3,492.73 $46,648.01
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,284.78 $22,714.92
SEASPAN CORP 6.50000 02/05/2024 MH 44,673.69 $44,561.34
PETROTAL CORP 12.00000 02/16/2024 CA 38,418.97 $39,571.54
FINECOBANK SPA IT FBK IM 6,223.39 $88,189.04
ALLFUNDS GROUP PLC GB ALLFG NA 3,711.63 $33,855.62
COPPER MOUNTAIN MINING C 8.00000 04/09/2026 CA 31,438.64 $31,418.91
AIRSWIFT GLOBAL AS FLT 10.38899 05/12/2025 NO 54,724.77 $54,815.79
KENT GLOBAL PLC 10.00000 06/28/2026 GB 25,352.17 $25,098.65
ROTORK PLC GB ROR LN 12,428.82 $43,742.12
AUTO TRADER GROUP PLC GB AUTO LN 10,735.97 $79,866.69
CELLNEX TELECOM SA ES CLNX SM 344.22 $15,534.37
ASSA ABLOY AB-B SE ASSAB SS 2,699.17 $66,537.59
CLEANAWAY WASTE MANAGEMENT AU CWY AU 25,075.23 $53,738.85
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,782.95 $55,253.27
ADYEN NV NL ADYEN NA 46.6 $72,168.24
BANK OF N.T. BUTTERFIELD&SON BM NTB 934.16 $29,500.66
BUNGE LIMITED US BG 55.78 $6,599.33
EATON CORP PLC US ETN 108.69 $15,064.63
JOHNSON CONTROLS INTERNATIONAL US JCI 202.04 $11,013.37
MEDTRONIC INC IE MDT 14,010.01 $1,403,102.41
ROYALTY PHARMA PLC- CL A US RPRX 149.27 $6,140.82
STONECO LTD-A BR STNE 3,274.92 $32,880.22
TRANE TECHNOLOGIES IE TT 52.15 $7,199.98
ALCON INC CH ALC 6,299.99 $470,798.31
CHUBB LTD CH CB 95.5 $20,178.51
GARMIN LTD CH GRMN 71.39 $7,540.67
TE CONNECTIVITY LIMITED CH TEL 70.75 $9,154.62
LYONDELLBASELL INDU-CL A US LYB 76.97 $8,793.53
PLAYA HOTELS AND RESORTS US PLYA 1,788.63 $15,453.76
US DOLLAR US 3,765,885.46 $3,765,885.46
NAVIGATOR HOLDINGS LTD 8.00000 09/10/2025 MH 8,655.65 $8,746.77
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 40,093.59 $40,056.96

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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