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.

Learn more about our Glide Range SM

Daily Price

$35.18

Daily $ Change

$0.14

Daily % Change

0.40%

as of 11/30/2023

CUSIP

563821156

Inception Date

01/06/2005

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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

Performance

As of 10/31/2023

YTD

3.60%

1 Year

5.58%

3 Year

2.52%

5 Year

6.49%

10 Year

5.86%

Inception
(01/06/2005)

6.58%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

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

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 10/31/2023

TREASURY NOTES 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.

Asset Allocation

As of 10/31/2023

Stocks
70.46%
Bonds
26.74%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

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

$35.18

Daily $ Change

$0.14

Daily % Change

0.40%

as of 11/30/2023

CUSIP

563821156

Inception Date

01/06/2005

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.

Learn more about our Glide Range SM

Performance

As of 10/31/2023

YTD

3.60%

1 Year

5.58%

3 Year

2.52%

5 Year

6.49%

10 Year

5.86%

Inception
(01/06/2005)

6.58%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

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

Expense Ratio

Gross 0.90%
Net 0.89%*

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

Top Ten Investments

As of 10/31/2023

TREASURY NOTES 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.

Asset Allocation

As of 10/31/2023

Stocks
70.46%
Bonds
26.74%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

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.

Sign up to receive the latest financial planning and investment tips and news.

View all Preferences