Collective Investment Trust
Retirement Target 2040 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 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.
Daily Price
$25.65
Daily $ Change
$0.21
Daily % Change
0.82%
as of 12/01/2023
CUSIP
302027586
Inception Date
05/31/2007
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
YTD
3.75%
1 Year
5.75%
3 Year
2.72%
5 Year
6.69%
10 Year
6.10%
Inception
(05/31/2007)
6.86%
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 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.
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.
| TREASURY NOTES | 14.12% |
| AMAZON.COM INC | 3.39% |
| META PLATFORMS INC | 2.83% |
| GOVERNMENT AGENCY | 2.73% |
| TREASURY BONDS | 2.54% |
| ALPHABET INC-CL A | 2.27% |
| JOHNSON & JOHNSON | 2.23% |
| MASTERCARD INC-CLASS A | 2.18% |
| SERVICENOW INC | 2.14% |
| VISA INC - CLASS A SHARES | 2.09% |
This investment list is unaudited and excludes cash.
| Stocks | 70.46% | |
| Bonds | 26.74% | |
| Cash | 2.80% |
| International Equities | 16.31% | |
| Small Capitalization | 0.34% | |
| Mid Capitalization | 6.22% | |
| Large Capitalization | 47.60% | |
| Long Term Fixed Income | 5.09% | |
| Intermediate Term Fixed Income | 21.39% | |
| Short Term Fixed Income | 0.25% | |
| Cash | 2.80% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 137.28 | $12,485.52 |
| ABBOTT LABORATORIES | US | ABT | 266.23 | $25,171.88 |
| ADMIRAL GROUP PLC | GB | ADM LN | 4,138.2 | $122,957.42 |
| ADMIRAL GROUP PLC ADR | GB | AMIGY | 13,472.16 | $398,641.27 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 119,019.12 | $100,395.08 | |
| AGREE REALTY CORP | US | ADC | 993.37 | $55,569.00 |
| AIR LIQUIDE | FR | AI FP | 383.97 | $65,794.34 |
| AIRBUS SE | FR | AIR FP | 470.75 | $63,116.89 |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 11,885.3 | $11,847.78 | |
| ALCON INC | CH | ALC | 9,608.28 | $685,262.29 |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 74,926.4 | $57,589.30 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 254,501 | $191,082.29 | |
| ALPHABET INC-CL A | US | GOOGL | 14,382.39 | $1,784,566.67 |
| AMAZON.COM INC | US | AMZN | 20,072.45 | $2,671,442.15 |
| AMAZON.COM INC 3.30000 04/13/2027 | US | 207,204.57 | $194,205.47 | |
| AMERICAN HOMES 4 RENT- A | US | AMH | 618.75 | $20,257.78 |
| AMERICAN TOWER REIT INC | US | AMT | 357.53 | $63,708.82 |
| AMERICOLD REALTY TRUST | US | COLD | 2,096.68 | $54,974.92 |
| ANALOG DEVICES INC | US | ADI | 125.43 | $19,733.15 |
| APARTMENT INCOME REIT CO | US | AIRC | 520.97 | $15,217.43 |
| APPLIED MATERIALS INC | US | AMAT | 5,268.18 | $697,243.69 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 153.3 | $10,971.50 |
| ARGO BLOCKCHAIN PLC | GB | 576.67 | $3,736.81 | |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 106,050.82 | $95,088.65 | |
| ASTRAZENECA | GB | AZN | 11,230.13 | $710,081.37 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 261.28 | $47,196.74 |
| AUCKLAND INTL AIRPORT LTD | NZ | AIA NZ | 10,632.26 | $45,466.55 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 11,740.69 | $88,809.54 |
| AVALONBAY COMMUNITIES INC | US | AVB | 321.21 | $53,236.64 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 2,919.81 | $49,359.15 |
| BABS 2021-RM2 A 1.75000 10/25/2061 | US | 51,439.61 | $43,975.57 | |
| BAE SYSTEMS PLC | GB | BA/ LN | 9,047.93 | $121,661.94 |
| BAE SYSTEMS PLC -SPON ADR | GB | BAESY | 7,400.23 | $403,238.74 |
| BANK OF AMERICA CORP | US | BAC | 994.75 | $26,201.77 |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 191,638.31 | $147,206.15 | |
| BAXTER INTERNATIONAL INC | US | BAX | 148.97 | $4,831.18 |
| BEIERSDORF AG | DE | BEI GR | 615.84 | $80,995.08 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 9,788.95 | $797,310.37 |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 84,882.12 | $81,787.56 | |
| BORR IHC LTD 10.00000 11/15/2028 | MUL | 56,282.97 | $56,145.72 | |
| BOSTON SCIENTIFIC CORP | US | BSX | 5,075.16 | $259,797.29 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 401.75 | $20,701.93 |
| BROADCOM INC | US | AVGO | 48.86 | $41,106.46 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 45.65 | $7,790.21 |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 58,869.94 | $53,350.34 | |
| BUNGE LIMITED | US | BG | 59.43 | $6,298.27 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 59.27 | $4,849.95 |
| CAMPBELL SOUP CO | US | CPB | 128.15 | $5,178.48 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 3,776.73 | $399,502.98 |
| CATERPILLAR INC | US | CAT | 121.74 | $27,519.55 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 6,645.15 | $1,089,074.43 |
| CELLNEX TELECOM SA | ES | CLNX SM | 1,564.69 | $45,995.93 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 29,429.86 | $429,676.01 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 189,393.04 | $183,860.82 | |
| CHEVRON CORP | US | CVX | 244.12 | $35,576.00 |
| CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 2,234.97 | $2,043.52 | |
| CISCO SYSTEMS INC | US | CSCO | 722.12 | $37,643.92 |
| CITIGROUP INC | US | C | 443.55 | $17,515.93 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 165,763.65 | $145,859.33 | |
| CLARK CNTY NV 1.51000 11/01/2028 | US | 56,064.92 | $46,594.66 | |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 40,382.57 | $57,526.88 |
| COCA COLA CO/THE | US | KO | 27,995.76 | $1,581,480.43 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 119.82 | $7,724.71 |
| COLGATE-PALMOLIVE CO | US | CL | 210.8 | $15,835.60 |
| COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 | US | 72,312.26 | $65,713.29 | |
| COMCAST CORP-CL A | US | CMCSA | 768.09 | $31,714.41 |
| COMMUNITY HEALTHCARE TRUST I | US | CHCT | 975.52 | $27,968.26 |
| CONAGRA BRAND INC. | US | CAG | 188.7 | $5,162.79 |
| CONOCOPHILLIPS | US | COP | 206.96 | $24,586.81 |
| CONSTELLATION BRANDS INC-A | US | STZ | 2,958.95 | $692,837.31 |
| COPART INC | US | CPRT | 9,064.65 | $394,493.44 |
| CORNING INC | US | GLW | 204.4 | $5,469.66 |
| COTERRA ENERGY INC | US | CTRA | 247.33 | $6,801.48 |
| CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 15,913.76 | $12,827.62 | |
| CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 8,913.57 | $7,197.58 | |
| CSX CORP | US | CSX | 12,675.27 | $378,356.78 |
| CUMMINS INC | US | CMI | 52.54 | $11,364.58 |
| CVS HEALTH CORP | US | CVS | 5,394.25 | $372,256.95 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 602.62 | $99,189.19 |
| DEUTSCHE BOERSE AG ADR | DE | DBOEY | 29,298.38 | $479,907.54 |
| DEVON ENERGY CORPORATION | US | DVN | 169.8 | $7,907.43 |
| DIAGEO PLC | GB | DGE LN | 1,830.46 | $69,220.80 |
| DIAMONDBACK ENERGY INC | US | FANG | 52.54 | $8,423.35 |
| DOLLARAMA INC | CA | DOL CN | 515.74 | $35,219.28 |
| DOW INC | US | DOW | 176.52 | $8,533.19 |
| DREYFUS GVT CSH MANAGEMENT | US | 2,268,368.67 | $2,268,368.67 | |
| EBAY INC | US | EBAY | 163.07 | $6,397.19 |
| ELECTRONIC ARTS | US | EA | 11,538.2 | $1,428,313.42 |
| EMERSON ELEC CO | US | EMR | 164.19 | $14,608.00 |
| ENDAVA PLC - SPON ADR | GB | DAVA | 678.2 | $34,018.29 |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 255,650.56 | $237,076.69 | |
| EOG RESOURCES INC | US | EOG | 121.26 | $15,309.13 |
| EQUINIX INC | US | EQIX | 1,212.26 | $884,514.20 |
| EQUITY COMMONWEALTH | US | EQC | 2,136.54 | $40,466.04 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 874.63 | $57,550.69 |
| EVERGY INC | US | EVRG | 9,344.19 | $459,173.38 |
| EXTRA SPACE STORAGE INC | US | EXR | 462.02 | $47,860.18 |
| EXXON MOBIL CORP | US | XOM | 392.45 | $41,541.30 |
| FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 1,519.35 | $1,545.10 | |
| FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 36.41 | $36.13 | |
| FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 | US | 5,533.6 | $5,140.67 | |
| FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 | US | 103,466.7 | $103,030.04 | |
| FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 | US | 70,370.37 | $58,816.34 | |
| FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 | US | 161,253.56 | $139,592.58 | |
| FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 | US | 96,204.46 | $81,943.53 | |
| FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 8,819.93 | $7,950.51 | |
| FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 | US | 102,301.19 | $90,510.07 | |
| FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 18,663.02 | $17,906.32 | |
| FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 | US | 109,509.46 | $91,307.62 | |
| FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 | US | 107,091.21 | $92,788.90 | |
| FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 | US | 102,427.54 | $83,230.33 | |
| FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 | US | 105,267.83 | $97,054.45 | |
| FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 | US | 104,438.18 | $86,532.83 | |
| FEDEX CORPORATION | US | FDX | 46.77 | $11,230.48 |
| FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 22,655.2 | $20,700.62 | |
| FHLM POOL C91780 4.50000 07/01/2034 | US | 26,239.39 | $25,233.23 | |
| FHLM POOL G05906 6.00000 04/01/2040 | US | 3,165.12 | $3,227.44 | |
| FHLM POOL K91364 4.50000 11/01/2033 | US | 3,356.49 | $3,243.45 | |
| FHLM POOL K92059 4.50000 09/01/2034 | US | 18,091.83 | $17,395.78 | |
| FHLM POOL SD8230 4.50000 06/01/2052 | US | 71,080.98 | $63,525.82 | |
| FIFTH THIRD BANCORP | US | FITB | 241.56 | $5,727.38 |
| FINECOBANK SPA | IT | FBK IM | 6,327.57 | $74,644.15 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 1,647.7 | $24,221.14 |
| FLX 2021-1A A2 3.25000 11/27/2051 | US | 97,834.23 | $84,683.70 | |
| FMC CORP | US | FMC | 17,826.12 | $948,349.73 |
| FN DS2696 3.00000 12/01/2051 | US | 125,836.79 | $102,084.11 | |
| FN FS4339 MTGE 3.00000 12/01/2050 | US | 168,513.57 | $137,793.97 | |
| FN MA4733 4.50000 09/01/2052 | US | 123,076.49 | $109,994.76 | |
| FN MA4807 MTGE 5.50000 11/01/2052 | US | 85,950.88 | $81,683.05 | |
| FN MA4868 MTGE 5.00000 01/01/2053 | US | 156,709.52 | $144,482.46 | |
| FN MA4934 MTGE 5.00000 02/01/2043 | US | 156,803.69 | $146,826.38 | |
| FNR 2018-31 KP 3.50000 07/25/2047 | US | 1,310.53 | $1,262.73 | |
| FR QG6308 MTG 6.00000 07/01/2053 | US | 242,915.67 | $236,797.12 | |
| FR SD1129 4.00000 08/01/2051 | US | 114,461.16 | $100,735.87 | |
| FREMF 2015-K43 B FLT 3.73151 02/25/2048 | US | 178,653.82 | $172,184.68 | |
| GENERAL DYNAMICS CORP | US | GD | 74.01 | $17,858.32 |
| GENERAL MLS INC | US | GIS | 174.28 | $11,370.15 |
| GENUINE PARTS CO | US | GPC | 55.42 | $7,141.96 |
| GETTY REALTY CORP | US | GTY | 713.24 | $18,986.54 |
| GILEAD SCIENCES INC | US | GILD | 296.34 | $23,274.79 |
| GLOBANT SA | LU | GLOB | 210.78 | $35,893.88 |
| GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 18,591.28 | $16,341.57 | |
| GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 | US | 31,707.29 | $27,849.33 | |
| GREENIDGE GEN HLD INC | US | 1,191.19 | $7,230.51 | |
| GSMBS 2021-INV1 A6 2.50000 12/25/2051 | US | 49,839.94 | $40,350.20 | |
| GSMBS 2021-PJ9 A8 2.50000 02/26/2052 | US | 40,918.97 | $33,545.02 | |
| HALLIBURTON CO | US | HAL | 217.21 | $8,545.10 |
| HALMA PLC | GB | HLMA LN | 1,928.4 | $43,366.55 |
| HARTFORD FINL SVCS | US | HIG | 80.57 | $5,918.11 |
| HAWAII ST 2.68200 10/01/2038 | US | 8,507.32 | $5,773.76 | |
| HDFC BANK LTD-ADR | IN | HDB | 9,871.69 | $558,243.81 |
| HEINEKEN NV | NL | HEIA NA | 1,009.37 | $90,685.67 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 17,968.14 | $808,566.29 |
| HELIOS TOWERS PLC | GB | HTWS LN | 15,518.44 | $11,420.88 |
| HOME DEPOT INC | US | HD | 160.99 | $45,831.22 |
| HONEYWELL INTERNATIONAL INC | US | HON | 143.85 | $26,361.32 |
| HUMANA INC | US | HUM | 1,226.22 | $642,159.13 |
| HUNTINGTON BANCSHARES | US | HBAN | 407.35 | $3,930.94 |
| HWIRE 2021-1 A2 2.31100 11/20/2051 | US | 91,879.11 | $80,296.67 | |
| IDEXX LABORATORIES INC | US | IDXX | 1,561.73 | $623,863.19 |
| IMCD NV | NL | IMCD NA | 391.8 | $47,170.39 |
| IMPRL 2021-NQM3 1.59500 11/25/2056 | US | 47,747.86 | $36,603.84 | |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 5,496.88 | $590,584.78 |
| INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 2,025.65 | $32,250.38 |
| INTERNATIONAL BUSINESS MACH CORP | US | IBM | 138.72 | $20,064.55 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 77.69 | $5,310.11 |
| INTUIT INC | US | INTU | 929.08 | $459,846.10 |
| INTUITIVE SURGICAL INC | US | ISRG | 2,356.63 | $617,956.05 |
| INVITATION HOMES INC | US | INVH | 1,900.7 | $56,431.84 |
| ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 20,417.58 | $19,729.99 | |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 45.33 | $5,160.65 |
| JOHNSON & JOHNSON | US | JNJ | 11,828.57 | $1,754,650.33 |
| JP MORGAN CHASE & CO | US | JPM | 2,897.76 | $402,961.89 |
| JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 14,455.93 | $13,454.71 | |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 271,416.03 | $245,189.53 | |
| KELLOGG CO | US | K | 86.82 | $4,381.83 |
| KEYENCE CORP | JP | 6861 JP | 138.65 | $53,673.20 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 2,202.65 | $34,975.83 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | KIMBERA MM | 19,169.81 | $35,130.65 |
| KRAFT HEINZ CO/THE | US | KHC | 243.16 | $7,649.86 |
| L'OREAL | FR | OR FP | 38.64 | $16,239.87 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 8,832.72 | $1,584,677.78 |
| LEXINGTON REALTY TRUST | US | LXP | 3,306.3 | $26,152.86 |
| LOCKHEED MARTIN CORP | US | LMT | 56.55 | $25,707.84 |
| LONZA GROUP AG -REG | CH | LONN SW | 95.39 | $33,404.75 |
| LULULEMON - ADR | CA | LULU | 1,379.54 | $542,820.79 |
| MARATHON OIL CORP | US | MRO | 183.89 | $5,022.12 |
| MARATHON PETROLEUM CORP | US | MPC | 113.57 | $17,177.69 |
| MARRIOTT VACATIONS WORLD | US | VAC | 145.13 | $13,041.81 |
| MASCO CORP | US | MAS | 22,340.49 | $1,163,716.02 |
| MASTERCARD INC-CLASS A | US | MA | 4,570.23 | $1,720,004.20 |
| MEDTRONIC INC | IE | MDT | 15,783.96 | $1,113,716.49 |
| MERCADOLIBRE INC | BR | MELI | 264.02 | $327,581.02 |
| MERCK & CO INC | US | MRK | 422.89 | $43,430.77 |
| META PLATFORMS INC | US | META | 7,386.05 | $2,225,196.60 |
| MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 127,609.87 | $6,166.58 | |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 139.68 | $9,957.91 |
| MICRON TECHNOLOGY INC | US | MU | 22,482.79 | $1,503,424.40 |
| MICROSOFT CORP | US | MSFT | 3,548.44 | $1,199,763.04 |
| MID-AMERICA APARTMENT COMM | US | MAA | 224 | $26,465.68 |
| MONARCH CASINO & RESORT INC | US | MCRI | 401.32 | $24,155.65 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 11,499.31 | $761,369.02 |
| MOODY'S CORPORATION | US | MCO | 4,074.95 | $1,255,085.90 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 59,835.32 | $58,423.21 | |
| NESTLE S.A. - ADR | CH | NSRGY | 10,669.1 | $1,149,701.92 |
| NESTLE SA-REGISTERED | CH | NESN SW | 1,107.35 | $119,414.75 |
| NETAPP INC | US | NTAP | 91.47 | $6,656.89 |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 110,010 | $99,036.11 | |
| NIKE INC CLASS B | US | NKE | 9,446.74 | $970,841.62 |
| NORFOLK SOUTHN CORP | US | NSC | 1,232.63 | $235,172.98 |
| NORTHROP GRUMMAN CORP | US | NOC | 2,072.25 | $976,921.32 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 54,704 | $5.47 | |
| NOVARTIS AG- REG | CH | NVS | 6,195.4 | $579,765.44 |
| NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 | US | 103,652.09 | $102,797.33 | |
| NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 16,427.22 | $14,605.61 | |
| NRZT 2015-2A A1 3.75000 08/25/2055 | US | 27,232.5 | $24,604.01 | |
| NRZT 2016-4A A1 3.75000 11/25/2056 | US | 52,996.42 | $47,688.31 | |
| OASIS 2023-1A 7.00000 02/15/2035 | US | 41,369.71 | $41,163.30 | |
| ODFJELL DRILLING LTD 9.25000 05/31/2028 | BM | 32,037.1 | $32,288.97 | |
| OMNICOM GROUP | US | OMC | 83.62 | $6,263.74 |
| OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 26,934.64 | $26,016.90 | |
| OXFIN 2022-1A 3.60200 02/15/2030 | US | 82,946.41 | $78,346.17 | |
| OXFIN 2023-1A A2 6.71600 02/15/2031 | US | 105,490.82 | $103,435.65 | |
| PACKAGING CORP OF AMERICA | US | PKG | 38.93 | $5,957.48 |
| PALOMINO FUNDING TRUST I 7.23300 05/17/2028 | US | 210,906.32 | $210,938.53 | |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 229.07 | $2,492.23 |
| PEAR 2021-1 A MTGE 2.60000 01/15/2034 | US | 64,076.89 | $61,126.77 | |
| PEAR 2023-1A 7.42000 07/15/2035 | US | 56,293.92 | $55,614.52 | |
| PELORUS FUND REIT 7.00000 09/30/2026 | US | 58,934.78 | $55,523.07 | |
| PEPSICO INC 3.90000 07/18/2032 | US | 215,811.5 | $191,554.45 | |
| PFIZER INC | US | PFE | 790.84 | $24,167.94 |
| PFMT 2021 -INV1 A1 2.50000 08/25/2051 | US | 80,335.35 | $58,830.55 | |
| PFMT 2021-2 A2A 2.00000 04/25/2051 | US | 46,740.92 | $37,660.86 | |
| PHILLIPS 66 | US | PSX | 90.02 | $10,269.07 |
| PHYSICIANS REALTY TRUST | US | DOC | 1,707.27 | $18,540.99 |
| PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 13,647.32 | $11,948.93 | |
| PPG INDUSTRIES INC | US | PPG | 63.11 | $7,748.39 |
| PROLOGIS | US | PLD | 1,744.17 | $175,724.71 |
| PUBLIC STORAGE INC | US | PSA | 284.71 | $67,962.70 |
| QUALCOMM 5.40000 05/20/2033 | US | 62,472.34 | $61,088.34 | |
| QUALCOMM INC | US | QCOM | 230.03 | $25,070.57 |
| QUEST DIAGNOSTICS INC | US | DGX | 48.86 | $6,356.24 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 246.04 | $20,025.60 |
| RCKT 2021-6 A1 2.50000 12/25/2051 | US | 85,141.58 | $61,909.09 | |
| REALTY INCOME CORP | US | O | 660.49 | $31,294.02 |
| REGIONS FINANCIAL CORP. | US | RF | 365.06 | $5,304.36 |
| RENAISSANCERE HOLDINGS LTD | BM | RNR | 380.62 | $83,580.95 |
| RENTOKIL INITIAL PLC | GB | RTO LN | 12,485.47 | $63,582.17 |
| RENTOKIL INITIAL PLC-SP ADR | GB | RTO | 16,061.3 | $411,008.66 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 830.33 | $35,903.27 |
| S&P GLOBAL INC | US | SPGI | 2,294.57 | $801,517.03 |
| SALESFORCE INC | US | CRM | 4,642.47 | $932,347.29 |
| SBA COMMUNICATIONS CORP | US | SBAC | 3,242.5 | $676,482.37 |
| SBA TOWER TRUST 6.59900 01/15/2028 | US | 148,292.66 | $148,006.43 | |
| SCHLUMBERGER LTD | NL | SLB | 256.62 | $14,283.31 |
| SEMT 2013-2 1.87400 02/25/2043 | US | 9,404 | $7,615.61 | |
| SEMT 2013-6 A2 3.00000 05/25/2043 | US | 21,823.94 | $18,568.26 | |
| SEMT 2013-7 A2 3.00000 06/25/2043 | US | 9,332.73 | $7,995.02 | |
| SEMT 2013-8 A1 3.00000 06/25/2043 | US | 11,375.04 | $9,698.42 | |
| SERVICENOW INC | US | NOW | 2,901.48 | $1,688,223.59 |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 382,625.1 | $291,728.19 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 54.14 | $4,696.34 |
| SLAM 2021-1A A MTGE 2.43400 06/15/2046 | US | 65,402.61 | $55,636.69 | |
| SMB 2020-BA A1A 1.29000 07/15/2053 | US | 48,842.97 | $43,153.37 | |
| SNOWFLAKE INC-CLASS A | US | SNOW | 5,173.35 | $750,808.39 |
| SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 12,209.19 | $11,797.61 | |
| SONY CORP FIRST SECTION | JP | 6758 JP | 781.84 | $65,001.28 |
| SONY CORP SPONSORED ADR | JP | SONY | 5,880.25 | $488,354.70 |
| SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 57,389.48 | $52,047.25 | |
| SORT 2020-1 A2 1.99000 07/15/2060 | US | 46,581.36 | $38,819.97 | |
| SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 | US | 164,616.73 | $137,880.70 | |
| SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 | US | 103,310.51 | $73,094.24 | |
| STAG INDUSTRIAL INC | US | STAG | 549.64 | $18,259.07 |
| SUN COMMUNITIES | US | SUI | 670.88 | $74,628.25 |
| SYNCHRONOSS TECH | US | 1,192.07 | $20,324.75 | |
| SYSCO CORP | US | SYY | 109.25 | $7,263.80 |
| TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 47,754.88 | $47,371.26 | |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 9,233.75 | $796,964.62 |
| TE CONNECTIVITY LIMITED | CH | TEL | 82.18 | $9,684.34 |
| TECHTRONIC INDUSTRIES CO LTD | HK | 669 HK | 4,810.14 | $43,914.30 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 422,717.24 | $379,894.85 | |
| TENCENT HOLDINGS LTD | CN | 700 HK | 2,476.66 | $91,657.95 |
| TERRENO REALTY CORP | US | TRNO | 672.12 | $35,810.39 |
| TEXAS INSTRUMENTS INC | US | TXN | 146.09 | $20,746.12 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 1,461.28 | $649,932.80 |
| TPMT 2016-5 A1 2.50000 10/25/2056 | US | 8,925.24 | $8,816.60 | |
| TPMT 2017-1 A1 2.75000 10/25/2056 | US | 3,360.69 | $3,327.79 | |
| TPMT 2019-HY1 A1 6.43892 10/25/2048 | US | 20,051.37 | $20,025.97 | |
| TRAVELLERS COS INC | US | TRV | 70.48 | $11,801.44 |
| TREASURY BOND 2.37500 02/15/2042 | US | 3,013,484.45 | $2,001,142.02 | |
| TREASURY NOTE 2.25000 11/15/2027 | US | 786,927.52 | $712,169.41 | |
| TRUIST FINANCIAL CORP | US | TFC | 270.23 | $7,663.81 |
| TSY INFL IX N/B 0.12500 01/15/2031 | US | 907,233.05 | $766,991.27 | |
| TYSON FOODS INC -CL A | US | TSN | 112.45 | $5,212.07 |
| U.S. BANCORP | US | USB | 377.56 | $12,036.52 |
| UDR INC | US | UDR | 1,055.43 | $33,573.12 |
| UNILEVER PLC - ADR | GB | UL | 19,007.34 | $899,997.49 |
| UNION PAC CORP | US | UNP | 2,011.51 | $417,609.96 |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 6,899.1 | $6,370.90 | |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 51,597.37 | $45,691.16 | |
| UNITED PARCEL SERVICE | US | UPS | 139.84 | $19,752.67 |
| UNITEDHEALTH GROUP INC | US | UNH | 452.84 | $242,525.34 |
| US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 | US | 21,268.31 | $18,971.68 | |
| US TEASURY NOTE 1.75000 11/15/2029 | US | 4,800,269.93 | $4,034,476.87 | |
| US TREASURY N/B 0.87500 11/15/2030 | US | 3,706,055.96 | $2,837,449.09 | |
| US TREASURY N/B 1.37500 11/15/2031 | US | 864,769.54 | $665,196.94 | |
| US TREASURY N/B 3.12500 11/15/2028 | US | 2,637,131.92 | $2,433,166.25 | |
| US TREASURY N/B 4.12500 11/15/2032 | US | 464,244.7 | $438,421.09 | |
| USRE 2021-1 A1 1.91000 10/20/2061 | US | 104,214.73 | $89,111.00 | |
| VALERO ENERGY | US | VLO | 71.76 | $9,113.91 |
| VENTAS INC | US | VTR | 820.16 | $34,824.20 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 1,753.54 | $634,975.94 |
| VISA INC - CLASS A SHARES | US | V | 7,013.76 | $1,648,934.27 |
| WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 | US | 170,017.31 | $150,514.75 | |
| WELLS FARGO COMPANY | US | WFC | 533.1 | $21,201.28 |
| WELLTOWER INC. | US | WELL | 610.93 | $51,079.89 |
| WIN 2015-1 A1 3.50000 01/20/2045 | US | 5,648.89 | $4,841.35 |
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
$25.65
Daily $ Change
$0.21
Daily % Change
0.82%
as of 12/01/2023
CUSIP
302027586
Inception Date
05/31/2007
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 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.
YTD
3.75%
1 Year
5.75%
3 Year
2.72%
5 Year
6.69%
10 Year
6.10%
Inception
(05/31/2007)
6.86%
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 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.
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.
| TREASURY NOTES | 14.12% |
| AMAZON.COM INC | 3.39% |
| META PLATFORMS INC | 2.83% |
| GOVERNMENT AGENCY | 2.73% |
| TREASURY BONDS | 2.54% |
| ALPHABET INC-CL A | 2.27% |
| JOHNSON & JOHNSON | 2.23% |
| MASTERCARD INC-CLASS A | 2.18% |
| SERVICENOW INC | 2.14% |
| VISA INC - CLASS A SHARES | 2.09% |
This investment list is unaudited and excludes cash.
| Stocks | 70.46% | |
| Bonds | 26.74% | |
| Cash | 2.80% |
| International Equities | 16.31% | |
| Small Capitalization | 0.34% | |
| Mid Capitalization | 6.22% | |
| Large Capitalization | 47.60% | |
| Long Term Fixed Income | 5.09% | |
| Intermediate Term Fixed Income | 21.39% | |
| Short Term Fixed Income | 0.25% | |
| Cash | 2.80% |
Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | MMM | 137.28 | $12,485.52 |
| ABBOTT LABORATORIES | US | ABT | 266.23 | $25,171.88 |
| ADMIRAL GROUP PLC | GB | ADM LN | 4,138.2 | $122,957.42 |
| ADMIRAL GROUP PLC ADR | GB | AMIGY | 13,472.16 | $398,641.27 |
| AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 | IE | 119,019.12 | $100,395.08 | |
| AGREE REALTY CORP | US | ADC | 993.37 | $55,569.00 |
| AIR LIQUIDE | FR | AI FP | 383.97 | $65,794.34 |
| AIRBUS SE | FR | AIR FP | 470.75 | $63,116.89 |
| ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 | US | 11,885.3 | $11,847.78 | |
| ALCON INC | CH | ALC | 9,608.28 | $685,262.29 |
| ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 | KY | 74,926.4 | $57,589.30 | |
| ALIBABA GROUP HOLDING 4.00000 12/06/2037 | KY | 254,501 | $191,082.29 | |
| ALPHABET INC-CL A | US | GOOGL | 14,382.39 | $1,784,566.67 |
| AMAZON.COM INC | US | AMZN | 20,072.45 | $2,671,442.15 |
| AMAZON.COM INC 3.30000 04/13/2027 | US | 207,204.57 | $194,205.47 | |
| AMERICAN HOMES 4 RENT- A | US | AMH | 618.75 | $20,257.78 |
| AMERICAN TOWER REIT INC | US | AMT | 357.53 | $63,708.82 |
| AMERICOLD REALTY TRUST | US | COLD | 2,096.68 | $54,974.92 |
| ANALOG DEVICES INC | US | ADI | 125.43 | $19,733.15 |
| APARTMENT INCOME REIT CO | US | AIRC | 520.97 | $15,217.43 |
| APPLIED MATERIALS INC | US | AMAT | 5,268.18 | $697,243.69 |
| ARCHER-DANIELS-MIDLAND CO | US | ADM | 153.3 | $10,971.50 |
| ARGO BLOCKCHAIN PLC | GB | 576.67 | $3,736.81 | |
| ASHTEAD CAPITAL INC 4.00000 05/01/2028 | US | 106,050.82 | $95,088.65 | |
| ASTRAZENECA | GB | AZN | 11,230.13 | $710,081.37 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 261.28 | $47,196.74 |
| AUCKLAND INTL AIRPORT LTD | NZ | AIA NZ | 10,632.26 | $45,466.55 |
| AUTO TRADER GROUP PLC | GB | AUTO LN | 11,740.69 | $88,809.54 |
| AVALONBAY COMMUNITIES INC | US | AVB | 321.21 | $53,236.64 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 2,919.81 | $49,359.15 |
| BABS 2021-RM2 A 1.75000 10/25/2061 | US | 51,439.61 | $43,975.57 | |
| BAE SYSTEMS PLC | GB | BA/ LN | 9,047.93 | $121,661.94 |
| BAE SYSTEMS PLC -SPON ADR | GB | BAESY | 7,400.23 | $403,238.74 |
| BANK OF AMERICA CORP | US | BAC | 994.75 | $26,201.77 |
| BANK OF AMERICA CORP 2.68700 04/22/2032 | US | 191,638.31 | $147,206.15 | |
| BAXTER INTERNATIONAL INC | US | BAX | 148.97 | $4,831.18 |
| BEIERSDORF AG | DE | BEI GR | 615.84 | $80,995.08 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 9,788.95 | $797,310.37 |
| BNSF FUNDING TRUST I 6.61300 12/15/2055 | US | 84,882.12 | $81,787.56 | |
| BORR IHC LTD 10.00000 11/15/2028 | MUL | 56,282.97 | $56,145.72 | |
| BOSTON SCIENTIFIC CORP | US | BSX | 5,075.16 | $259,797.29 |
| BRISTOL MYERS SQUIBB CO | US | BMY | 401.75 | $20,701.93 |
| BROADCOM INC | US | AVGO | 48.86 | $41,106.46 |
| BROADRIDGE FINANCIAL SOLUTIONS | US | BR | 45.65 | $7,790.21 |
| BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 | AE | 58,869.94 | $53,350.34 | |
| BUNGE LIMITED | US | BG | 59.43 | $6,298.27 |
| C.H. ROBINSON WORLDWIDE INC | US | CHRW | 59.27 | $4,849.95 |
| CAMPBELL SOUP CO | US | CPB | 128.15 | $5,178.48 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 3,776.73 | $399,502.98 |
| CATERPILLAR INC | US | CAT | 121.74 | $27,519.55 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 6,645.15 | $1,089,074.43 |
| CELLNEX TELECOM SA | ES | CLNX SM | 1,564.69 | $45,995.93 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 29,429.86 | $429,676.01 |
| CENOVUS ENERGY INC 6.75000 11/15/2039 | CA | 189,393.04 | $183,860.82 | |
| CHEVRON CORP | US | CVX | 244.12 | $35,576.00 |
| CIM 2019-INV1 A1 4.00000 02/25/2049 | US | 2,234.97 | $2,043.52 | |
| CISCO SYSTEMS INC | US | CSCO | 722.12 | $37,643.92 |
| CITIGROUP INC | US | C | 443.55 | $17,515.93 |
| CITIGROUP INC 1.46200 06/09/2027 | US | 165,763.65 | $145,859.33 | |
| CLARK CNTY NV 1.51000 11/01/2028 | US | 56,064.92 | $46,594.66 | |
| CLEANAWAY WASTE MANAGEMENT | AU | CWY AU | 40,382.57 | $57,526.88 |
| COCA COLA CO/THE | US | KO | 27,995.76 | $1,581,480.43 |
| COGNIZANT TECH SOLUTIONS - A | US | CTSH | 119.82 | $7,724.71 |
| COLGATE-PALMOLIVE CO | US | CL | 210.8 | $15,835.60 |
| COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 | US | 72,312.26 | $65,713.29 | |
| COMCAST CORP-CL A | US | CMCSA | 768.09 | $31,714.41 |
| COMMUNITY HEALTHCARE TRUST I | US | CHCT | 975.52 | $27,968.26 |
| CONAGRA BRAND INC. | US | CAG | 188.7 | $5,162.79 |
| CONOCOPHILLIPS | US | COP | 206.96 | $24,586.81 |
| CONSTELLATION BRANDS INC-A | US | STZ | 2,958.95 | $692,837.31 |
| COPART INC | US | CPRT | 9,064.65 | $394,493.44 |
| CORNING INC | US | GLW | 204.4 | $5,469.66 |
| COTERRA ENERGY INC | US | CTRA | 247.33 | $6,801.48 |
| CSMC 2013-IVR3 A1 2.50000 05/25/2043 | US | 15,913.76 | $12,827.62 | |
| CSMC 2013-TH1 A1 2.13000 02/25/2043 | US | 8,913.57 | $7,197.58 | |
| CSX CORP | US | CSX | 12,675.27 | $378,356.78 |
| CUMMINS INC | US | CMI | 52.54 | $11,364.58 |
| CVS HEALTH CORP | US | CVS | 5,394.25 | $372,256.95 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 602.62 | $99,189.19 |
| DEUTSCHE BOERSE AG ADR | DE | DBOEY | 29,298.38 | $479,907.54 |
| DEVON ENERGY CORPORATION | US | DVN | 169.8 | $7,907.43 |
| DIAGEO PLC | GB | DGE LN | 1,830.46 | $69,220.80 |
| DIAMONDBACK ENERGY INC | US | FANG | 52.54 | $8,423.35 |
| DOLLARAMA INC | CA | DOL CN | 515.74 | $35,219.28 |
| DOW INC | US | DOW | 176.52 | $8,533.19 |
| DREYFUS GVT CSH MANAGEMENT | US | 2,268,368.67 | $2,268,368.67 | |
| EBAY INC | US | EBAY | 163.07 | $6,397.19 |
| ELECTRONIC ARTS | US | EA | 11,538.2 | $1,428,313.42 |
| EMERSON ELEC CO | US | EMR | 164.19 | $14,608.00 |
| ENDAVA PLC - SPON ADR | GB | DAVA | 678.2 | $34,018.29 |
| ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 | US | 255,650.56 | $237,076.69 | |
| EOG RESOURCES INC | US | EOG | 121.26 | $15,309.13 |
| EQUINIX INC | US | EQIX | 1,212.26 | $884,514.20 |
| EQUITY COMMONWEALTH | US | EQC | 2,136.54 | $40,466.04 |
| EQUITY LIFESTYLE PROPERTIES | US | ELS | 874.63 | $57,550.69 |
| EVERGY INC | US | EVRG | 9,344.19 | $459,173.38 |
| EXTRA SPACE STORAGE INC | US | EXR | 462.02 | $47,860.18 |
| EXXON MOBIL CORP | US | XOM | 392.45 | $41,541.30 |
| FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 | US | 1,519.35 | $1,545.10 | |
| FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 | US | 36.41 | $36.13 | |
| FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 | US | 5,533.6 | $5,140.67 | |
| FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 | US | 103,466.7 | $103,030.04 | |
| FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 | US | 70,370.37 | $58,816.34 | |
| FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 | US | 161,253.56 | $139,592.58 | |
| FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 | US | 96,204.46 | $81,943.53 | |
| FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 | US | 8,819.93 | $7,950.51 | |
| FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 | US | 102,301.19 | $90,510.07 | |
| FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 | US | 18,663.02 | $17,906.32 | |
| FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 | US | 109,509.46 | $91,307.62 | |
| FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 | US | 107,091.21 | $92,788.90 | |
| FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 | US | 102,427.54 | $83,230.33 | |
| FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 | US | 105,267.83 | $97,054.45 | |
| FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 | US | 104,438.18 | $86,532.83 | |
| FEDEX CORPORATION | US | FDX | 46.77 | $11,230.48 |
| FHLM GOLD POOL FG G08786 4.50000 10/01/2047 | US | 22,655.2 | $20,700.62 | |
| FHLM POOL C91780 4.50000 07/01/2034 | US | 26,239.39 | $25,233.23 | |
| FHLM POOL G05906 6.00000 04/01/2040 | US | 3,165.12 | $3,227.44 | |
| FHLM POOL K91364 4.50000 11/01/2033 | US | 3,356.49 | $3,243.45 | |
| FHLM POOL K92059 4.50000 09/01/2034 | US | 18,091.83 | $17,395.78 | |
| FHLM POOL SD8230 4.50000 06/01/2052 | US | 71,080.98 | $63,525.82 | |
| FIFTH THIRD BANCORP | US | FITB | 241.56 | $5,727.38 |
| FINECOBANK SPA | IT | FBK IM | 6,327.57 | $74,644.15 |
| FLAGSHIP COMMUNITIES REIT UT | US | MHC/U CN | 1,647.7 | $24,221.14 |
| FLX 2021-1A A2 3.25000 11/27/2051 | US | 97,834.23 | $84,683.70 | |
| FMC CORP | US | FMC | 17,826.12 | $948,349.73 |
| FN DS2696 3.00000 12/01/2051 | US | 125,836.79 | $102,084.11 | |
| FN FS4339 MTGE 3.00000 12/01/2050 | US | 168,513.57 | $137,793.97 | |
| FN MA4733 4.50000 09/01/2052 | US | 123,076.49 | $109,994.76 | |
| FN MA4807 MTGE 5.50000 11/01/2052 | US | 85,950.88 | $81,683.05 | |
| FN MA4868 MTGE 5.00000 01/01/2053 | US | 156,709.52 | $144,482.46 | |
| FN MA4934 MTGE 5.00000 02/01/2043 | US | 156,803.69 | $146,826.38 | |
| FNR 2018-31 KP 3.50000 07/25/2047 | US | 1,310.53 | $1,262.73 | |
| FR QG6308 MTG 6.00000 07/01/2053 | US | 242,915.67 | $236,797.12 | |
| FR SD1129 4.00000 08/01/2051 | US | 114,461.16 | $100,735.87 | |
| FREMF 2015-K43 B FLT 3.73151 02/25/2048 | US | 178,653.82 | $172,184.68 | |
| GENERAL DYNAMICS CORP | US | GD | 74.01 | $17,858.32 |
| GENERAL MLS INC | US | GIS | 174.28 | $11,370.15 |
| GENUINE PARTS CO | US | GPC | 55.42 | $7,141.96 |
| GETTY REALTY CORP | US | GTY | 713.24 | $18,986.54 |
| GILEAD SCIENCES INC | US | GILD | 296.34 | $23,274.79 |
| GLOBANT SA | LU | GLOB | 210.78 | $35,893.88 |
| GNR 2017-54 AH MTGE 2.60000 12/16/2056 | US | 18,591.28 | $16,341.57 | |
| GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 | US | 31,707.29 | $27,849.33 | |
| GREENIDGE GEN HLD INC | US | 1,191.19 | $7,230.51 | |
| GSMBS 2021-INV1 A6 2.50000 12/25/2051 | US | 49,839.94 | $40,350.20 | |
| GSMBS 2021-PJ9 A8 2.50000 02/26/2052 | US | 40,918.97 | $33,545.02 | |
| HALLIBURTON CO | US | HAL | 217.21 | $8,545.10 |
| HALMA PLC | GB | HLMA LN | 1,928.4 | $43,366.55 |
| HARTFORD FINL SVCS | US | HIG | 80.57 | $5,918.11 |
| HAWAII ST 2.68200 10/01/2038 | US | 8,507.32 | $5,773.76 | |
| HDFC BANK LTD-ADR | IN | HDB | 9,871.69 | $558,243.81 |
| HEINEKEN NV | NL | HEIA NA | 1,009.37 | $90,685.67 |
| HEINEKEN NV-SPN ADR | NL | HEINY | 17,968.14 | $808,566.29 |
| HELIOS TOWERS PLC | GB | HTWS LN | 15,518.44 | $11,420.88 |
| HOME DEPOT INC | US | HD | 160.99 | $45,831.22 |
| HONEYWELL INTERNATIONAL INC | US | HON | 143.85 | $26,361.32 |
| HUMANA INC | US | HUM | 1,226.22 | $642,159.13 |
| HUNTINGTON BANCSHARES | US | HBAN | 407.35 | $3,930.94 |
| HWIRE 2021-1 A2 2.31100 11/20/2051 | US | 91,879.11 | $80,296.67 | |
| IDEXX LABORATORIES INC | US | IDXX | 1,561.73 | $623,863.19 |
| IMCD NV | NL | IMCD NA | 391.8 | $47,170.39 |
| IMPRL 2021-NQM3 1.59500 11/25/2056 | US | 47,747.86 | $36,603.84 | |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 5,496.88 | $590,584.78 |
| INTERMEDIATE CAPITAL GROUP | GB | ICP LN | 2,025.65 | $32,250.38 |
| INTERNATIONAL BUSINESS MACH CORP | US | IBM | 138.72 | $20,064.55 |
| INTERNATIONAL FLVRS & FRAGRANCES | US | IFF | 77.69 | $5,310.11 |
| INTUIT INC | US | INTU | 929.08 | $459,846.10 |
| INTUITIVE SURGICAL INC | US | ISRG | 2,356.63 | $617,956.05 |
| INVITATION HOMES INC | US | INVH | 1,900.7 | $56,431.84 |
| ITALY GOV'T INT BOND 2.37500 10/17/2024 | IT | 20,417.58 | $19,729.99 | |
| JM SMUCKER CO/THE-NEW COM WI | US | SJM | 45.33 | $5,160.65 |
| JOHNSON & JOHNSON | US | JNJ | 11,828.57 | $1,754,650.33 |
| JP MORGAN CHASE & CO | US | JPM | 2,897.76 | $402,961.89 |
| JPMMT 2014-2 1A1 3.00000 06/25/2029 | US | 14,455.93 | $13,454.71 | |
| JPMORGAN CHASE & CO 4.49300 03/24/2031 | US | 271,416.03 | $245,189.53 | |
| KELLOGG CO | US | K | 86.82 | $4,381.83 |
| KEYENCE CORP | JP | 6861 JP | 138.65 | $53,673.20 |
| KEYWORDS STUDIOS PLC | IE | KWS LN | 2,202.65 | $34,975.83 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | KIMBERA MM | 19,169.81 | $35,130.65 |
| KRAFT HEINZ CO/THE | US | KHC | 243.16 | $7,649.86 |
| L'OREAL | FR | OR FP | 38.64 | $16,239.87 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 8,832.72 | $1,584,677.78 |
| LEXINGTON REALTY TRUST | US | LXP | 3,306.3 | $26,152.86 |
| LOCKHEED MARTIN CORP | US | LMT | 56.55 | $25,707.84 |
| LONZA GROUP AG -REG | CH | LONN SW | 95.39 | $33,404.75 |
| LULULEMON - ADR | CA | LULU | 1,379.54 | $542,820.79 |
| MARATHON OIL CORP | US | MRO | 183.89 | $5,022.12 |
| MARATHON PETROLEUM CORP | US | MPC | 113.57 | $17,177.69 |
| MARRIOTT VACATIONS WORLD | US | VAC | 145.13 | $13,041.81 |
| MASCO CORP | US | MAS | 22,340.49 | $1,163,716.02 |
| MASTERCARD INC-CLASS A | US | MA | 4,570.23 | $1,720,004.20 |
| MEDTRONIC INC | IE | MDT | 15,783.96 | $1,113,716.49 |
| MERCADOLIBRE INC | BR | MELI | 264.02 | $327,581.02 |
| MERCK & CO INC | US | MRK | 422.89 | $43,430.77 |
| META PLATFORMS INC | US | META | 7,386.05 | $2,225,196.60 |
| MEX BONOS DESARR FIX RT 7.75000 05/29/2031 | MX | 127,609.87 | $6,166.58 | |
| MICROCHIP TECHNOLOGY INC | US | MCHP | 139.68 | $9,957.91 |
| MICRON TECHNOLOGY INC | US | MU | 22,482.79 | $1,503,424.40 |
| MICROSOFT CORP | US | MSFT | 3,548.44 | $1,199,763.04 |
| MID-AMERICA APARTMENT COMM | US | MAA | 224 | $26,465.68 |
| MONARCH CASINO & RESORT INC | US | MCRI | 401.32 | $24,155.65 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 11,499.31 | $761,369.02 |
| MOODY'S CORPORATION | US | MCO | 4,074.95 | $1,255,085.90 |
| NAVIENT CORP 6.75000 06/25/2025 | US | 59,835.32 | $58,423.21 | |
| NESTLE S.A. - ADR | CH | NSRGY | 10,669.1 | $1,149,701.92 |
| NESTLE SA-REGISTERED | CH | NESN SW | 1,107.35 | $119,414.75 |
| NETAPP INC | US | NTAP | 91.47 | $6,656.89 |
| NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 | AU | 110,010 | $99,036.11 | |
| NIKE INC CLASS B | US | NKE | 9,446.74 | $970,841.62 |
| NORFOLK SOUTHN CORP | US | NSC | 1,232.63 | $235,172.98 |
| NORTHROP GRUMMAN CORP | US | NOC | 2,072.25 | $976,921.32 |
| NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 | CA | 54,704 | $5.47 | |
| NOVARTIS AG- REG | CH | NVS | 6,195.4 | $579,765.44 |
| NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 | US | 103,652.09 | $102,797.33 | |
| NRZT 2014-3A AFX3 3.75000 11/25/2054 | US | 16,427.22 | $14,605.61 | |
| NRZT 2015-2A A1 3.75000 08/25/2055 | US | 27,232.5 | $24,604.01 | |
| NRZT 2016-4A A1 3.75000 11/25/2056 | US | 52,996.42 | $47,688.31 | |
| OASIS 2023-1A 7.00000 02/15/2035 | US | 41,369.71 | $41,163.30 | |
| ODFJELL DRILLING LTD 9.25000 05/31/2028 | BM | 32,037.1 | $32,288.97 | |
| OMNICOM GROUP | US | OMC | 83.62 | $6,263.74 |
| OXFIN 2020-1A A2 3.10100 02/15/2028 | US | 26,934.64 | $26,016.90 | |
| OXFIN 2022-1A 3.60200 02/15/2030 | US | 82,946.41 | $78,346.17 | |
| OXFIN 2023-1A A2 6.71600 02/15/2031 | US | 105,490.82 | $103,435.65 | |
| PACKAGING CORP OF AMERICA | US | PKG | 38.93 | $5,957.48 |
| PALOMINO FUNDING TRUST I 7.23300 05/17/2028 | US | 210,906.32 | $210,938.53 | |
| PARAMOUNT GLOBAL CLASS B | US | PARA | 229.07 | $2,492.23 |
| PEAR 2021-1 A MTGE 2.60000 01/15/2034 | US | 64,076.89 | $61,126.77 | |
| PEAR 2023-1A 7.42000 07/15/2035 | US | 56,293.92 | $55,614.52 | |
| PELORUS FUND REIT 7.00000 09/30/2026 | US | 58,934.78 | $55,523.07 | |
| PEPSICO INC 3.90000 07/18/2032 | US | 215,811.5 | $191,554.45 | |
| PFIZER INC | US | PFE | 790.84 | $24,167.94 |
| PFMT 2021 -INV1 A1 2.50000 08/25/2051 | US | 80,335.35 | $58,830.55 | |
| PFMT 2021-2 A2A 2.00000 04/25/2051 | US | 46,740.92 | $37,660.86 | |
| PHILLIPS 66 | US | PSX | 90.02 | $10,269.07 |
| PHYSICIANS REALTY TRUST | US | DOC | 1,707.27 | $18,540.99 |
| PMTLT 2013-J1 a9 3.50000 09/25/2043 | US | 13,647.32 | $11,948.93 | |
| PPG INDUSTRIES INC | US | PPG | 63.11 | $7,748.39 |
| PROLOGIS | US | PLD | 1,744.17 | $175,724.71 |
| PUBLIC STORAGE INC | US | PSA | 284.71 | $67,962.70 |
| QUALCOMM 5.40000 05/20/2033 | US | 62,472.34 | $61,088.34 | |
| QUALCOMM INC | US | QCOM | 230.03 | $25,070.57 |
| QUEST DIAGNOSTICS INC | US | DGX | 48.86 | $6,356.24 |
| RAYTHEON TECHNOLOGIES CORP | US | RTX | 246.04 | $20,025.60 |
| RCKT 2021-6 A1 2.50000 12/25/2051 | US | 85,141.58 | $61,909.09 | |
| REALTY INCOME CORP | US | O | 660.49 | $31,294.02 |
| REGIONS FINANCIAL CORP. | US | RF | 365.06 | $5,304.36 |
| RENAISSANCERE HOLDINGS LTD | BM | RNR | 380.62 | $83,580.95 |
| RENTOKIL INITIAL PLC | GB | RTO LN | 12,485.47 | $63,582.17 |
| RENTOKIL INITIAL PLC-SP ADR | GB | RTO | 16,061.3 | $411,008.66 |
| REXFORD INDUSTRIAL REALITY IN | US | REXR | 830.33 | $35,903.27 |
| S&P GLOBAL INC | US | SPGI | 2,294.57 | $801,517.03 |
| SALESFORCE INC | US | CRM | 4,642.47 | $932,347.29 |
| SBA COMMUNICATIONS CORP | US | SBAC | 3,242.5 | $676,482.37 |
| SBA TOWER TRUST 6.59900 01/15/2028 | US | 148,292.66 | $148,006.43 | |
| SCHLUMBERGER LTD | NL | SLB | 256.62 | $14,283.31 |
| SEMT 2013-2 1.87400 02/25/2043 | US | 9,404 | $7,615.61 | |
| SEMT 2013-6 A2 3.00000 05/25/2043 | US | 21,823.94 | $18,568.26 | |
| SEMT 2013-7 A2 3.00000 06/25/2043 | US | 9,332.73 | $7,995.02 | |
| SEMT 2013-8 A1 3.00000 06/25/2043 | US | 11,375.04 | $9,698.42 | |
| SERVICENOW INC | US | NOW | 2,901.48 | $1,688,223.59 |
| SIMON PROPERTY GROUP LP 2.65000 02/01/2032 | US | 382,625.1 | $291,728.19 | |
| SKYWORKS SOLUTIONS INC | US | SWKS | 54.14 | $4,696.34 |
| SLAM 2021-1A A MTGE 2.43400 06/15/2046 | US | 65,402.61 | $55,636.69 | |
| SMB 2020-BA A1A 1.29000 07/15/2053 | US | 48,842.97 | $43,153.37 | |
| SNOWFLAKE INC-CLASS A | US | SNOW | 5,173.35 | $750,808.39 |
| SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 | US | 12,209.19 | $11,797.61 | |
| SONY CORP FIRST SECTION | JP | 6758 JP | 781.84 | $65,001.28 |
| SONY CORP SPONSORED ADR | JP | SONY | 5,880.25 | $488,354.70 |
| SORT 2020-1 A1 MTGE 1.69000 07/15/2060 | US | 57,389.48 | $52,047.25 | |
| SORT 2020-1 A2 1.99000 07/15/2060 | US | 46,581.36 | $38,819.97 | |
| SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 | US | 164,616.73 | $137,880.70 | |
| SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 | US | 103,310.51 | $73,094.24 | |
| STAG INDUSTRIAL INC | US | STAG | 549.64 | $18,259.07 |
| SUN COMMUNITIES | US | SUI | 670.88 | $74,628.25 |
| SYNCHRONOSS TECH | US | 1,192.07 | $20,324.75 | |
| SYSCO CORP | US | SYY | 109.25 | $7,263.80 |
| TAH 2017-SFR2 A 2.92800 01/17/2036 | US | 47,754.88 | $47,371.26 | |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 9,233.75 | $796,964.62 |
| TE CONNECTIVITY LIMITED | CH | TEL | 82.18 | $9,684.34 |
| TECHTRONIC INDUSTRIES CO LTD | HK | 669 HK | 4,810.14 | $43,914.30 |
| TENCENT HOLDINGS 3.97500 04/11/2029 | KY | 422,717.24 | $379,894.85 | |
| TENCENT HOLDINGS LTD | CN | 700 HK | 2,476.66 | $91,657.95 |
| TERRENO REALTY CORP | US | TRNO | 672.12 | $35,810.39 |
| TEXAS INSTRUMENTS INC | US | TXN | 146.09 | $20,746.12 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 1,461.28 | $649,932.80 |
| TPMT 2016-5 A1 2.50000 10/25/2056 | US | 8,925.24 | $8,816.60 | |
| TPMT 2017-1 A1 2.75000 10/25/2056 | US | 3,360.69 | $3,327.79 | |
| TPMT 2019-HY1 A1 6.43892 10/25/2048 | US | 20,051.37 | $20,025.97 | |
| TRAVELLERS COS INC | US | TRV | 70.48 | $11,801.44 |
| TREASURY BOND 2.37500 02/15/2042 | US | 3,013,484.45 | $2,001,142.02 | |
| TREASURY NOTE 2.25000 11/15/2027 | US | 786,927.52 | $712,169.41 | |
| TRUIST FINANCIAL CORP | US | TFC | 270.23 | $7,663.81 |
| TSY INFL IX N/B 0.12500 01/15/2031 | US | 907,233.05 | $766,991.27 | |
| TYSON FOODS INC -CL A | US | TSN | 112.45 | $5,212.07 |
| U.S. BANCORP | US | USB | 377.56 | $12,036.52 |
| UDR INC | US | UDR | 1,055.43 | $33,573.12 |
| UNILEVER PLC - ADR | GB | UL | 19,007.34 | $899,997.49 |
| UNION PAC CORP | US | UNP | 2,011.51 | $417,609.96 |
| UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 | US | 6,899.1 | $6,370.90 | |
| UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 | US | 51,597.37 | $45,691.16 | |
| UNITED PARCEL SERVICE | US | UPS | 139.84 | $19,752.67 |
| UNITEDHEALTH GROUP INC | US | UNH | 452.84 | $242,525.34 |
| US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 | US | 21,268.31 | $18,971.68 | |
| US TEASURY NOTE 1.75000 11/15/2029 | US | 4,800,269.93 | $4,034,476.87 | |
| US TREASURY N/B 0.87500 11/15/2030 | US | 3,706,055.96 | $2,837,449.09 | |
| US TREASURY N/B 1.37500 11/15/2031 | US | 864,769.54 | $665,196.94 | |
| US TREASURY N/B 3.12500 11/15/2028 | US | 2,637,131.92 | $2,433,166.25 | |
| US TREASURY N/B 4.12500 11/15/2032 | US | 464,244.7 | $438,421.09 | |
| USRE 2021-1 A1 1.91000 10/20/2061 | US | 104,214.73 | $89,111.00 | |
| VALERO ENERGY | US | VLO | 71.76 | $9,113.91 |
| VENTAS INC | US | VTR | 820.16 | $34,824.20 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 1,753.54 | $634,975.94 |
| VISA INC - CLASS A SHARES | US | V | 7,013.76 | $1,648,934.27 |
| WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 | US | 170,017.31 | $150,514.75 | |
| WELLS FARGO COMPANY | US | WFC | 533.1 | $21,201.28 |
| WELLTOWER INC. | US | WELL | 610.93 | $51,079.89 |
| WIN 2015-1 A1 3.50000 01/20/2045 | US | 5,648.89 | $4,841.35 |
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.