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

$33.99

Daily $ Change

-$0.30

Daily % Change

-0.88%

as of 06/07/2023

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 05/31/2023

YTD

7.86%

1 Year

0.56%

3 Year

5.55%

5 Year

6.70%

10 Year

7.17%

Inception
(01/06/2005)

6.88%

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 05/31/2023

TREASURY NOTES 12.63%
TREASURY BONDS 2.85%
AMAZON.COM INC 2.77%
GOVERNMENT AGENCY 2.58%
META PLATFORMS INC 2.39%
JOHNSON & JOHNSON 2.26%
ALPHABET INC-CL A 2.13%
SERVICENOW INC 2.04%
MASTERCARD INC-CLASS A 2.04%
VISA INC - CLASS A SHARES 1.90%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
71.72%
Bonds
25.58%
Cash
2.70%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
18.17%
Small Capitalization
0.30%
Mid Capitalization
6.42%
Large Capitalization
46.83%
Long Term Fixed Income
5.24%
Intermediate Term Fixed Income
18.22%
Short Term Fixed Income
2.12%
Cash
2.70%

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 188.91 $17,627.07
ABBOTT LABORATORIES US ABT 355.16 $36,226.59
ADMIRAL GROUP PLC GB AMIGY 13,317.16 $384,999.12
ADMIRAL GROUP PLC GB ADM LN 4,095.79 $118,642.00
ADVANCED MICRO DEVICES INC US AMD 2,829.48 $334,473.30
ADYEN NV NL ADYEN NA 22.19 $36,342.58
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 61,434.6 $53,261.16
AGREE REALTY CORP US ADC 756.93 $48,814.16
AIR LIQUIDE FR AI FP 570.7 $95,622.11
AIR LIQUIDE-ADR FR AIQUY 18,778.27 $629,447.50
AIRBUS SE FR AIR FP 465.97 $61,194.09
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 13,883.23 $14,072.98
ALCON INC CH ALC 9,807.94 $759,036.49
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 73,912.44 $60,711.94
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 191,191.4 $161,941.48
ALPHABET INC-CL A US GOOGL 14,044.17 $1,725,606.99
AMAZON.COM INC US AMZN 18,591.86 $2,241,806.51
AMAZON.COM INC 3.30000 04/13/2027 US 186,406.48 $179,767.33
AMERICAN HOMES 4 RENT- A US AMH 567.74 $19,462.20
AMERICAN TANKER INC 7.75000 07/02/2025 US 58,662.06 $56,374.86
AMERICAN TOWER REIT INC US AMT 188.38 $34,745.19
AMERICOLD REALTY TRUST US COLD 1,641.84 $48,105.82
ANALOG DEVICES INC US ADI 172.62 $30,673.35
APARTMENT INCOME REIT CO US AIRC 544.06 $18,873.61
APPLIED MATERIALS INC US AMAT 6,321.07 $842,598.79
ARCHER-DANIELS-MIDLAND CO US ADM 210.92 $14,901.42
ARGO BLOCKCHAIN PLC GB 574.19 $3,445.14
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 81,711.32 $75,712.12
ASTRAZENECA GB AZN 11,086.35 $810,190.62
ATLASSIAN CORP PLC-CLASS A AU TEAM 203.18 $36,732.09
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 5,478.17 $29,279.81
AUTO TRADER GROUP PLC GB AUTO LN 13,815.37 $108,423.36
AVALONBAY COMMUNITIES INC US AVB 174.79 $30,410.41
AVANZA BANK HOLDING AB SE AZA SS 2,011.65 $41,771.74
BABS 2021-RM2 A 1.75000 10/25/2061 US 49,833.52 $43,578.12
BAE SYSTEMS PLC GB BA/ LN 8,955.2 $103,500.17
BAE SYSTEMS PLC -SPON ADR GB BAESY 11,883.46 $558,403.76
BANK OF AMERICA CORP US BAC 1,332.2 $37,021.88
BANK OF AMERICA CORP 2.68700 04/22/2032 US 154,552.15 $127,663.32
BARRICK GOLD CORP CA GOLD 15,490.14 $261,473.58
BAXTER INTERNATIONAL INC US BAX 205.04 $8,349.03
BEIERSDORF AG DE BEI GR 609.53 $77,781.44
BIOMARIN PHARMACEUTICAL INC US BMRN 9,706.78 $843,907.16
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 83,437.13 $80,182.82
BOSTON SCIENTIFIC CORP US BSX 7,588.89 $390,675.87
BRANDYWINE REALTY TRUST US BDN 1,767.93 $6,894.94
BRISTOL MYERS SQUIBB CO US BMY 539.88 $34,789.78
BROADCOM INC US AVGO 66.6 $53,809.00
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.81 $9,215.17
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 39,493.41 $33,931.09
BUNGE LIMITED US BG 81.84 $7,581.47
C.H. ROBINSON WORLDWIDE INC US CHRW 81.6 $7,714.03
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 51,190.28 $51,858.31
CAMPBELL SOUP CO US CPB 176.33 $8,913.51
CANADIAN NATIONAL RAILWAY CO CA CNI 3,677.43 $414,556.12
CARETRUST REIT INC US CTRE 1,501.97 $29,138.24
CATERPILLAR INC US CAT 167.54 $34,471.98
CBOE GLOBAL MARKETS INC US CBOE 6,598.23 $873,736.98
CELLNEX TELECOM SA ES CLNX SM 1,435.64 $58,180.05
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 25,223.22 $510,013.56
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 84,120.92 $88,061.90
CHEVRON CORP US CVX 330.25 $49,742.08
CIM 2019-INV1 A1 4.00000 02/25/2049 US 2,541.7 $2,464.26
CISCO SYSTEMS INC US CSCO 982.36 $48,793.87
CITIGROUP INC US C 599.46 $26,568.24
CITIGROUP INC 1.46200 06/09/2027 US 147,211.22 $131,230.25
CLARK CNTY NV 1.51000 11/01/2028 US 55,824.09 $47,836.14
CLEANAWAY WASTE MANAGEMENT AU CWY AU 33,832.59 $57,167.28
COCA COLA CO/THE US KO 19,785.61 $1,180,409.30
COGNIZANT TECH SOLUTIONS - A US CTSH 164.88 $10,303.47
COLGATE-PALMOLIVE CO US CL 290.1 $21,577.31
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 70,566.77 $66,265.30
COMCAST CORP-CL A US CMCSA 1,037.91 $40,841.88
COMMUNITY HEALTHCARE TRUST I US CHCT 714.19 $23,425.31
CONAGRA BRAND INC. US CAG 259.7 $9,055.74
CONOCOPHILLIPS US COP 284.86 $28,286.24
CONSTELLATION BRANDS INC-A US STZ 2,946.24 $715,846.97
COPART INC US CPRT 5,812.09 $509,081.32
CORNING INC US GLW 281.31 $8,667.10
COTERRA ENERGY INC US CTRA 340.41 $7,914.49
COUSINS PROPERTIES INC US CUZ 1,265.56 $25,210.04
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 15,964.33 $13,710.86
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 8,991.99 $7,618.95
CSX CORP US CSX 12,534.38 $384,429.33
CUMMINS INC US CMI 70.31 $14,371.31
CVS HEALTH CORP US CVS 4,205.36 $286,090.91
DANONE FR BN FP 571.87 $33,848.36
DEUTSCHE BOERSE AG DE DB1 GR 520.53 $90,032.26
DEUTSCHE BOERSE AG ADR DE DBOEY 29,038.41 $500,912.54
DEVON ENERGY CORPORATION US DVN 233.66 $10,771.57
DIAGEO PLC GB DGE LN 1,643.82 $68,337.80
DIAMONDBACK ENERGY INC US FANG 72.24 $9,185.30
DIGITAL REALTY TRUST INC US DLR 153.28 $15,705.38
DOLLAR GENERAL CORP US DG 1,957.67 $393,668.09
DOLLAR TREE STORES INC US DLTR 4,057.29 $547,247.94
DOMINO'S PIZZA US DPZ 752.83 $218,207.12
DOW INC US DOW 243.01 $11,854.13
DREYFUS GVT CSH MANAGEMENT US 2,249,565.69 $2,249,565.69
EBAY INC US EBAY 224.47 $9,548.83
ELECTRONIC ARTS US EA 11,438.59 $1,464,139.61
EMERSON ELEC CO US EMR 226 $17,555.58
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 207,030.57 $206,502.29
EOG RESOURCES INC US EOG 166.9 $17,906.54
EQUINIX INC US EQIX 1,154.54 $860,765.07
EQUITY COMMONWEALTH US EQC 1,235.45 $25,264.87
EQUITY LIFESTYLE PROPERTIES US ELS 768.95 $48,574.76
ESSEX PROPERTY TRUST INC US ESS 69.92 $15,107.12
EVERGY INC US EVRG 8,099.4 $468,550.10
EXTRA SPACE STORAGE INC US EXR 75.93 $10,953.99
EXXON MOBIL CORP US XOM 529.32 $54,085.62
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 1,560.39 $1,649.24
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 68.5 $68.01
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 6,004.28 $5,951.57
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 107,468.71 $112,155.04
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 73,329.63 $67,897.05
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 160,020.61 $151,066.49
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 98,147.09 $91,244.31
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 9,082.46 $8,598.91
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 105,111.01 $100,520.24
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 18,951.86 $18,834.35
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 109,960.53 $100,871.60
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 108,096.4 $102,047.76
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 148,605.32 $148,230.77
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 103,974.67 $92,871.90
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 105,255.87 $103,592.90
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 107,756.65 $95,094.25
FEDEX CORPORATION US FDX 64.34 $14,024.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 23,457.36 $23,116.90
FHLM POOL C91780 4.50000 07/01/2034 US 26,757.27 $26,657.96
FHLM POOL G05906 6.00000 04/01/2040 US 3,297.32 $3,489.39
FHLM POOL G13331 5.50000 10/01/2023 US 2.72 $2.70
FHLM POOL K91364 4.50000 11/01/2033 US 3,400.53 $3,392.31
FHLM POOL K92059 4.50000 09/01/2034 US 18,091.69 $18,020.17
FHLM POOL SD8230 4.50000 06/01/2052 US 71,562.33 $69,182.63
FIFTH THIRD BANCORP US FITB 332.51 $8,069.97
FINECOBANK SPA IT FBK IM 4,191.9 $55,996.07
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,372.56 $20,670.70
FLX 2021-1A A2 3.25000 11/27/2051 US 95,472.69 $84,588.80
FMC CORP US FMC 10,680.51 $1,111,626.97
FN DS2696 3.00000 12/01/2051 US 127,543.35 $113,913.68
FN MA4733 4.50000 09/01/2052 US 123,523.71 $119,416.43
FN MA4807 MTGE 5.50000 11/01/2052 US 86,835.41 $86,739.56
FN MA4868 MTGE 5.00000 01/01/2053 US 156,738.83 $154,262.72
FN MA4934 MTGE 5.00000 02/01/2043 US 161,994.39 $160,481.07
FNR 2018-31 KP 3.50000 07/25/2047 US 1,577.69 $1,525.15
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 80,529.14 $76,439.32
FR SD1129 4.00000 08/01/2051 US 117,934.66 $112,674.34
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 174,341.43 $167,579.40
GENERAL DYNAMICS CORP US GD 98.77 $20,166.52
GENERAL MLS INC US GIS 239.87 $20,187.12
GENUINE PARTS CO US GPC 76.27 $11,359.35
GETTY REALTY CORP US GTY 1,049.82 $35,977.16
GILEAD SCIENCES INC US GILD 398.38 $30,651.28
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 18,362.01 $16,825.38
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 31,275.68 $29,247.01
GREENIDGE GEN HLD INC US 1,173.24 $5,572.90
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 50,767.43 $43,706.25
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 41,638.2 $35,890.44
HALLIBURTON CO US HAL 298.97 $8,565.38
HARTFORD FINL SVCS US HIG 110.86 $7,596.23
HAWAII ST 2.68200 10/01/2038 US 8,301.97 $6,302.54
HDFC BANK LTD-ADR IN HDB 7,872.79 $507,007.39
HEALTHCARE REALTY TRUST INC US HR 2,388.58 $44,451.42
HEINEKEN NV NL HEIA NA 874.27 $88,457.19
HEINEKEN NV-SPN ADR NL HEINY 10,918.84 $551,837.99
HELIOS TOWERS PLC GB HTWS LN 13,301.86 $14,983.14
HOME DEPOT INC US HD 217.37 $61,613.73
HONEYWELL INTERNATIONAL INC US HON 194.72 $37,307.59
HUMANA INC US HUM 1,220.95 $612,759.49
HUNTINGTON BANCSHARES US HBAN 560.6 $5,779.78
HWIRE 2021-1 A2 2.31100 11/20/2051 US 89,661.31 $79,613.73
IDEXX LABORATORIES INC US IDXX 1,547.26 $719,117.83
IMCD NV NL IMCD NA 195.12 $29,412.25
IMPRL 2021-NQM3 1.59500 11/25/2056 US 49,167.33 $41,259.90
INTERCONTINENTALEXCHANGE INC US ICE 5,449.86 $577,412.21
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,004.89 $34,798.60
INTERNATIONAL BUSINESS MACH CORP US IBM 186.73 $24,011.94
INTERNATIONAL FLVRS & FRAGRANCES US IFF 106.91 $8,263.17
INTUIT INC US INTU 2,074.96 $869,658.14
INTUITIVE SURGICAL INC US ISRG 2,413.66 $743,022.11
INVITATION HOMES INC US INVH 1,363.94 $46,210.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 19,924.74 $19,056.78
JM SMUCKER CO/THE-NEW COM WI US SJM 62.41 $9,148.08
JOHNSON & JOHNSON US JNJ 11,833.75 $1,834,941.31
JP MORGAN CHASE & CO US JPM 3,015.63 $409,251.55
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 15,853.74 $14,984.71
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 219,986.63 $212,352.40
KELLOGG CO US K 119.49 $7,978.31
KEYENCE CORP JP 6861 JP 112.96 $54,758.86
KEYWORDS STUDIOS PLC IE KWS LN 859.83 $20,803.37
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 41,296.13 $84,394.55
KRAFT HEINZ CO/THE US KHC 334.68 $12,791.62
L'OREAL FR OR FP 38.22 $16,361.64
L3HARRIS TECHNOLOGIES INC US LHX 6,024.1 $1,059,760.18
LEXINGTON REALTY TRUST US LXP 3,127.41 $32,337.43
LIFE STORAGE INC US LSI 317.4 $40,434.20
LINDE PLC IE LIN 854.19 $302,091.55
LOCKHEED MARTIN CORP US LMT 75.23 $33,401.35
LULULEMON - ADR CA LULU 2,204.59 $731,768.42
MARATHON OIL CORP US MRO 253.09 $5,608.44
MARATHON PETROLEUM CORP US MPC 156.34 $16,401.31
MASCO CORP US MAS 22,801.91 $1,101,788.44
MASTERCARD INC-CLASS A US MA 4,525.06 $1,651,736.57
MEDTRONIC INC IE MDT 15,950.57 $1,320,069.22
MEITUAN DIANPING - CLASS B CN 3690 HK 20.1 $282.24
MERCADOLIBRE INC BR MELI 358.2 $443,809.26
MERCK & CO INC US MRK 566.65 $62,563.78
META PLATFORMS INC US META 7,324.69 $1,938,991.77
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 124,529.6 $6,614.98
MICROCHIP TECHNOLOGY INC US MCHP 192.21 $14,466.05
MICRON TECHNOLOGY INC US MU 22,262.2 $1,518,281.96
MICROSOFT CORP US MSFT 3,800.02 $1,247,887.53
MID-AMERICA APARTMENT COMM US MAA 266.31 $39,163.94
MONARCH CASINO & RESORT INC US MCRI 241.32 $15,659.57
MONDELEZ INTERNATIONAL INC US MDLZ 13,103.67 $961,940.30
MOODY'S CORPORATION US MCO 4,042.11 $1,280,865.00
NAVIENT CORP 6.75000 06/25/2025 US 58,979.02 $57,388.97
NESTLE S.A. - ADR CH NSRGY 7,302.99 $867,083.68
NESTLE SA-REGISTERED CH NESN SW 843.77 $100,017.16
NETAPP INC US NTAP 125.86 $8,350.70
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 95,759.25 $86,147.19
NEWMONT GOLDCORP CORP US NEM 4,280.64 $173,579.86
NIKE INC CLASS B US NKE 4,076.61 $429,104.48
NORFOLK SOUTHN CORP US NSC 1,247.92 $259,792.28
NORTHROP GRUMMAN CORP US NOC 2,055.09 $894,972.52
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,844.42 $5.38
NOVARTIS AG- REG CH NVS 6,137.71 $590,754.46
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 17,167.82 $15,699.55
NRZT 2015-2A A1 3.75000 08/25/2055 US 28,599.17 $26,710.14
NRZT 2016-4A A1 3.75000 11/25/2056 US 55,405.44 $50,971.67
OASIS 2023-1A 7.00000 02/15/2035 US 52,672.24 $52,260.26
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 56,805.4 $57,089.43
OMNICOM GROUP US OMC 115.05 $10,146.63
OXFIN 2020-1A A2 3.10100 02/15/2028 US 36,312.08 $35,967.84
OXFIN 2022-1A 3.60200 02/15/2030 US 80,944.24 $74,360.67
OXFIN 2023-1A A2 6.71600 02/15/2031 US 102,944.47 $102,142.00
PACKAGING CORP OF AMERICA US PKG 53.62 $6,650.29
PARAMOUNT GLOBAL CLASS B US PARA 315.25 $4,794.98
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 76,650.52 $72,364.10
PELORUS FUND REIT 7.00000 09/30/2026 US 58,116.12 $54,445.94
PEPSICO INC 3.90000 07/18/2032 US 165,279.29 $159,626.56
PFIZER INC US PFE 1,067.02 $40,568.08
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 79,780.32 $64,371.65
PFMT 2021-2 A2A 2.00000 04/25/2051 US 47,224.58 $40,160.29
PHILLIPS 66 US PSX 123.84 $11,345.14
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 13,537.96 $12,246.00
POPULAR INC 6.12500 09/14/2023 PR 51,255.7 $50,999.42
PPG INDUSTRIES INC US PPG 86.83 $11,400.52
PROLOGIS US PLD 1,676.67 $208,829.73
PUBLIC STORAGE INC US PSA 250.36 $70,926.09
QUALCOMM 5.40000 05/20/2033 US 62,203.99 $65,046.06
QUALCOMM INC US QCOM 316.54 $35,898.92
QUEST DIAGNOSTICS INC US DGX 67.24 $8,919.80
RAYTHEON TECHNOLOGIES CORP US RTX 285.5 $26,306.05
RCKT 2021-6 A1 2.50000 12/25/2051 US 85,561.7 $69,039.95
REALTY INCOME CORP US O 672.41 $39,967.95
REGIONS FINANCIAL CORP. US RF 502.47 $8,677.65
RENAISSANCERE HOLDINGS LTD BM RNR 300.29 $56,566.00
RENTOKIL INITIAL PLC GB RTO LN 9,112.24 $72,484.04
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,927.9 $632,815.27
RESTAURANT BRANDS INTERN CA QSR 689.29 $50,255.86
REXFORD INDUSTRIAL REALITY IN US REXR 827.26 $45,036.10
S&P GLOBAL INC US SPGI 2,280.05 $837,758.10
SALESFORCE INC US CRM 4,609.45 $1,029,659.44
SBA COMMUNICATIONS CORP US SBAC 2,052.06 $455,105.12
SBA TOWER TRUST 6.59900 01/15/2028 US 145,714.37 $150,789.20
SCHLUMBERGER LTD NL SLB 353.23 $15,128.80
SEMT 2013-2 1.87400 02/25/2043 US 9,528.39 $8,300.85
SEMT 2013-6 A2 3.00000 05/25/2043 US 22,931.15 $19,747.85
SEMT 2013-7 A2 3.00000 06/25/2043 US 9,590.17 $8,478.76
SEMT 2013-8 A1 3.00000 06/25/2043 US 11,557.32 $10,263.23
SERVICENOW INC US NOW 3,033.3 $1,652,479.03
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 286,447.56 $232,748.79
SKYWORKS SOLUTIONS INC US SWKS 74.5 $7,711.39
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 65,766.57 $57,874.58
SMB 2020-BA A1A 1.29000 07/15/2053 US 52,913.41 $46,233.91
SNOWFLAKE INC-CLASS A US SNOW 5,151.13 $851,790.55
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 14,694.84 $14,209.38
SONY CORP FIRST SECTION JP 6758 JP 927.9 $87,019.24
SONY CORP SPONSORED ADR JP SONY 5,854.99 $548,612.58
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 56,004.2 $50,579.32
SORT 2020-1 A2 1.99000 07/15/2060 US 45,551.79 $38,293.48
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 160,643.18 $139,252.69
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 110,375.76 $80,572.76
STAG INDUSTRIAL INC US STAG 619.34 $21,553.15
SUN COMMUNITIES US SUI 505.18 $63,970.32
SYNCHRONOSS TECH US 1,542.32 $28,532.91
SYSCO CORP US SYY 150.37 $10,518.39
TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,566.53 $50,457.67
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 9,059.19 $893,145.21
TE CONNECTIVITY LIMITED CH TEL 113.12 $13,855.01
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 4,760.78 $44,088.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 366,629.33 $345,487.67
TENCENT HOLDINGS LTD CN 700 HK 1,952.16 $77,255.51
TERRENO REALTY CORP US TRNO 705.68 $43,279.26
TEXAS INSTRUMENTS INC US TXN 201 $34,950.20
THERMO FISHER SCIENTIFIC INC US TMO 1,225.37 $623,053.77
TOKYO ELECTRON LTD JP 8035 JP 338.87 $46,088.18
TPMT 2016-5 A1 2.50000 10/25/2056 US 14,439.98 $14,184.57
TPMT 2017-1 A1 2.75000 10/25/2056 US 6,771.34 $6,658.30
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 22,191.69 $21,994.04
TRAVELLERS COS INC US TRV 96.99 $16,415.30
TREASURY BILL 0.00000 05/16/2024 US 1,410,902.39 $1,343,315.52
TREASURY BOND 2.37500 02/15/2042 US 1,981,582.87 $1,547,802.00
TREASURY NOTE 2.25000 11/15/2027 US 767,932.51 $718,316.87
TRUIST FINANCIAL CORP US TFC 371.93 $11,332.82
TYSON FOODS INC -CL A US TSN 154.72 $7,835.14
U.S. BANCORP US USB 500.7 $14,970.80
UDR INC US UDR 1,170.83 $46,446.99
UNILEVER PLC - ADR GB UL 18,744.15 $936,082.63
UNION PAC CORP US UNP 2,034.04 $391,593.07
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,394.95 $6,960.12
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 50,938.99 $45,944.58
UNITED PARCEL SERVICE US UPS 188.91 $31,547.75
UNITEDHEALTH GROUP INC US UNH 450.9 $219,696.11
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 20,754.93 $19,866.06
US TEASURY NOTE 1.75000 11/15/2029 US 3,826,557.78 $3,410,718.59
US TREASURY N/B 0.87500 11/15/2030 US 3,583,666.12 $2,947,565.38
US TREASURY N/B 1.37500 11/15/2031 US 1,163,687.86 $972,770.32
US TREASURY N/B 3.00000 05/15/2047 US 296,629.5 $250,234.79
US TREASURY N/B 3.12500 11/15/2028 US 2,260,885.79 $2,187,583.65
US TREASURY N/B 3.62500 02/15/2053 US 532,068.95 $509,539.16
USRE 2021-1 A1 1.91000 10/20/2061 US 101,699.17 $87,767.40
VALERO ENERGY US VLO 98.77 $10,572.16
VENTAS INC US VTR 514.81 $22,208.81
VERTEX PHARMACEUTICALS INC US VRTX 1,736.24 $561,795.58
VISA INC - CLASS A SHARES US V 6,956.58 $1,537,612.67
VISTRA OPERATIONS 4.87500 05/13/2024 US 145,965.92 $143,874.96
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 40,505.98 $39,180.91
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 219,352.69 $200,430.23
WELLS FARGO COMPANY US WFC 710.81 $28,297.36
WELLTOWER INC. US WELL 514.66 $38,398.74
WIN 2015-1 A1 3.50000 01/20/2045 US 5,589.76 $5,096.81

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

$33.99

Daily $ Change

-$0.30

Daily % Change

-$0.88

as of 06/07/2023

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 05/31/2023

YTD

7.86%

1 Year

0.56%

3 Year

5.55%

5 Year

6.70%

10 Year

7.17%

Inception
(01/06/2005)

6.88%

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 05/31/2023

TREASURY NOTES 12.63%
TREASURY BONDS 2.85%
AMAZON.COM INC 2.77%
GOVERNMENT AGENCY 2.58%
META PLATFORMS INC 2.39%
JOHNSON & JOHNSON 2.26%
ALPHABET INC-CL A 2.13%
SERVICENOW INC 2.04%
MASTERCARD INC-CLASS A 2.04%
VISA INC - CLASS A SHARES 1.90%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2023

Stocks
71.72%
Bonds
25.58%
Cash
2.70%

Detailed Asset Class Allocation

As of 05/31/2023

International Equities
18.17%
Small Capitalization
0.30%
Mid Capitalization
6.42%
Large Capitalization
46.83%
Long Term Fixed Income
5.24%
Intermediate Term Fixed Income
18.22%
Short Term Fixed Income
2.12%
Cash
2.70%

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 188.91 $17,627.07
ABBOTT LABORATORIES US ABT 355.16 $36,226.59
ADMIRAL GROUP PLC GB AMIGY 13,317.16 $384,999.12
ADMIRAL GROUP PLC GB ADM LN 4,095.79 $118,642.00
ADVANCED MICRO DEVICES INC US AMD 2,829.48 $334,473.30
ADYEN NV NL ADYEN NA 22.19 $36,342.58
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 61,434.6 $53,261.16
AGREE REALTY CORP US ADC 756.93 $48,814.16
AIR LIQUIDE FR AI FP 570.7 $95,622.11
AIR LIQUIDE-ADR FR AIQUY 18,778.27 $629,447.50
AIRBUS SE FR AIR FP 465.97 $61,194.09
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 13,883.23 $14,072.98
ALCON INC CH ALC 9,807.94 $759,036.49
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 73,912.44 $60,711.94
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 191,191.4 $161,941.48
ALPHABET INC-CL A US GOOGL 14,044.17 $1,725,606.99
AMAZON.COM INC US AMZN 18,591.86 $2,241,806.51
AMAZON.COM INC 3.30000 04/13/2027 US 186,406.48 $179,767.33
AMERICAN HOMES 4 RENT- A US AMH 567.74 $19,462.20
AMERICAN TANKER INC 7.75000 07/02/2025 US 58,662.06 $56,374.86
AMERICAN TOWER REIT INC US AMT 188.38 $34,745.19
AMERICOLD REALTY TRUST US COLD 1,641.84 $48,105.82
ANALOG DEVICES INC US ADI 172.62 $30,673.35
APARTMENT INCOME REIT CO US AIRC 544.06 $18,873.61
APPLIED MATERIALS INC US AMAT 6,321.07 $842,598.79
ARCHER-DANIELS-MIDLAND CO US ADM 210.92 $14,901.42
ARGO BLOCKCHAIN PLC GB 574.19 $3,445.14
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 81,711.32 $75,712.12
ASTRAZENECA GB AZN 11,086.35 $810,190.62
ATLASSIAN CORP PLC-CLASS A AU TEAM 203.18 $36,732.09
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 5,478.17 $29,279.81
AUTO TRADER GROUP PLC GB AUTO LN 13,815.37 $108,423.36
AVALONBAY COMMUNITIES INC US AVB 174.79 $30,410.41
AVANZA BANK HOLDING AB SE AZA SS 2,011.65 $41,771.74
BABS 2021-RM2 A 1.75000 10/25/2061 US 49,833.52 $43,578.12
BAE SYSTEMS PLC GB BA/ LN 8,955.2 $103,500.17
BAE SYSTEMS PLC -SPON ADR GB BAESY 11,883.46 $558,403.76
BANK OF AMERICA CORP US BAC 1,332.2 $37,021.88
BANK OF AMERICA CORP 2.68700 04/22/2032 US 154,552.15 $127,663.32
BARRICK GOLD CORP CA GOLD 15,490.14 $261,473.58
BAXTER INTERNATIONAL INC US BAX 205.04 $8,349.03
BEIERSDORF AG DE BEI GR 609.53 $77,781.44
BIOMARIN PHARMACEUTICAL INC US BMRN 9,706.78 $843,907.16
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 83,437.13 $80,182.82
BOSTON SCIENTIFIC CORP US BSX 7,588.89 $390,675.87
BRANDYWINE REALTY TRUST US BDN 1,767.93 $6,894.94
BRISTOL MYERS SQUIBB CO US BMY 539.88 $34,789.78
BROADCOM INC US AVGO 66.6 $53,809.00
BROADRIDGE FINANCIAL SOLUTIONS US BR 62.81 $9,215.17
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 39,493.41 $33,931.09
BUNGE LIMITED US BG 81.84 $7,581.47
C.H. ROBINSON WORLDWIDE INC US CHRW 81.6 $7,714.03
CALDERYS FINANCING LLC 11.25000 06/01/2028 US 51,190.28 $51,858.31
CAMPBELL SOUP CO US CPB 176.33 $8,913.51
CANADIAN NATIONAL RAILWAY CO CA CNI 3,677.43 $414,556.12
CARETRUST REIT INC US CTRE 1,501.97 $29,138.24
CATERPILLAR INC US CAT 167.54 $34,471.98
CBOE GLOBAL MARKETS INC US CBOE 6,598.23 $873,736.98
CELLNEX TELECOM SA ES CLNX SM 1,435.64 $58,180.05
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 25,223.22 $510,013.56
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 84,120.92 $88,061.90
CHEVRON CORP US CVX 330.25 $49,742.08
CIM 2019-INV1 A1 4.00000 02/25/2049 US 2,541.7 $2,464.26
CISCO SYSTEMS INC US CSCO 982.36 $48,793.87
CITIGROUP INC US C 599.46 $26,568.24
CITIGROUP INC 1.46200 06/09/2027 US 147,211.22 $131,230.25
CLARK CNTY NV 1.51000 11/01/2028 US 55,824.09 $47,836.14
CLEANAWAY WASTE MANAGEMENT AU CWY AU 33,832.59 $57,167.28
COCA COLA CO/THE US KO 19,785.61 $1,180,409.30
COGNIZANT TECH SOLUTIONS - A US CTSH 164.88 $10,303.47
COLGATE-PALMOLIVE CO US CL 290.1 $21,577.31
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 70,566.77 $66,265.30
COMCAST CORP-CL A US CMCSA 1,037.91 $40,841.88
COMMUNITY HEALTHCARE TRUST I US CHCT 714.19 $23,425.31
CONAGRA BRAND INC. US CAG 259.7 $9,055.74
CONOCOPHILLIPS US COP 284.86 $28,286.24
CONSTELLATION BRANDS INC-A US STZ 2,946.24 $715,846.97
COPART INC US CPRT 5,812.09 $509,081.32
CORNING INC US GLW 281.31 $8,667.10
COTERRA ENERGY INC US CTRA 340.41 $7,914.49
COUSINS PROPERTIES INC US CUZ 1,265.56 $25,210.04
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 15,964.33 $13,710.86
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 8,991.99 $7,618.95
CSX CORP US CSX 12,534.38 $384,429.33
CUMMINS INC US CMI 70.31 $14,371.31
CVS HEALTH CORP US CVS 4,205.36 $286,090.91
DANONE FR BN FP 571.87 $33,848.36
DEUTSCHE BOERSE AG DE DB1 GR 520.53 $90,032.26
DEUTSCHE BOERSE AG ADR DE DBOEY 29,038.41 $500,912.54
DEVON ENERGY CORPORATION US DVN 233.66 $10,771.57
DIAGEO PLC GB DGE LN 1,643.82 $68,337.80
DIAMONDBACK ENERGY INC US FANG 72.24 $9,185.30
DIGITAL REALTY TRUST INC US DLR 153.28 $15,705.38
DOLLAR GENERAL CORP US DG 1,957.67 $393,668.09
DOLLAR TREE STORES INC US DLTR 4,057.29 $547,247.94
DOMINO'S PIZZA US DPZ 752.83 $218,207.12
DOW INC US DOW 243.01 $11,854.13
DREYFUS GVT CSH MANAGEMENT US 2,249,565.69 $2,249,565.69
EBAY INC US EBAY 224.47 $9,548.83
ELECTRONIC ARTS US EA 11,438.59 $1,464,139.61
EMERSON ELEC CO US EMR 226 $17,555.58
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 207,030.57 $206,502.29
EOG RESOURCES INC US EOG 166.9 $17,906.54
EQUINIX INC US EQIX 1,154.54 $860,765.07
EQUITY COMMONWEALTH US EQC 1,235.45 $25,264.87
EQUITY LIFESTYLE PROPERTIES US ELS 768.95 $48,574.76
ESSEX PROPERTY TRUST INC US ESS 69.92 $15,107.12
EVERGY INC US EVRG 8,099.4 $468,550.10
EXTRA SPACE STORAGE INC US EXR 75.93 $10,953.99
EXXON MOBIL CORP US XOM 529.32 $54,085.62
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 1,560.39 $1,649.24
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 68.5 $68.01
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 6,004.28 $5,951.57
FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 107,468.71 $112,155.04
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 73,329.63 $67,897.05
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 160,020.61 $151,066.49
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 98,147.09 $91,244.31
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 9,082.46 $8,598.91
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 105,111.01 $100,520.24
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 18,951.86 $18,834.35
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 109,960.53 $100,871.60
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 108,096.4 $102,047.76
FEDERAL NATL MTG ASSN MA5043 5.00000 06/01/2038 US 148,605.32 $148,230.77
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 103,974.67 $92,871.90
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 105,255.87 $103,592.90
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 107,756.65 $95,094.25
FEDEX CORPORATION US FDX 64.34 $14,024.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 23,457.36 $23,116.90
FHLM POOL C91780 4.50000 07/01/2034 US 26,757.27 $26,657.96
FHLM POOL G05906 6.00000 04/01/2040 US 3,297.32 $3,489.39
FHLM POOL G13331 5.50000 10/01/2023 US 2.72 $2.70
FHLM POOL K91364 4.50000 11/01/2033 US 3,400.53 $3,392.31
FHLM POOL K92059 4.50000 09/01/2034 US 18,091.69 $18,020.17
FHLM POOL SD8230 4.50000 06/01/2052 US 71,562.33 $69,182.63
FIFTH THIRD BANCORP US FITB 332.51 $8,069.97
FINECOBANK SPA IT FBK IM 4,191.9 $55,996.07
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 1,372.56 $20,670.70
FLX 2021-1A A2 3.25000 11/27/2051 US 95,472.69 $84,588.80
FMC CORP US FMC 10,680.51 $1,111,626.97
FN DS2696 3.00000 12/01/2051 US 127,543.35 $113,913.68
FN MA4733 4.50000 09/01/2052 US 123,523.71 $119,416.43
FN MA4807 MTGE 5.50000 11/01/2052 US 86,835.41 $86,739.56
FN MA4868 MTGE 5.00000 01/01/2053 US 156,738.83 $154,262.72
FN MA4934 MTGE 5.00000 02/01/2043 US 161,994.39 $160,481.07
FNR 2018-31 KP 3.50000 07/25/2047 US 1,577.69 $1,525.15
FONTAINEBLEAU MIAMI BEACH TRUST 3.14400 12/10/2036 US 80,529.14 $76,439.32
FR SD1129 4.00000 08/01/2051 US 117,934.66 $112,674.34
FREMF 2015-K43 B FLT 3.73197 02/25/2048 US 174,341.43 $167,579.40
GENERAL DYNAMICS CORP US GD 98.77 $20,166.52
GENERAL MLS INC US GIS 239.87 $20,187.12
GENUINE PARTS CO US GPC 76.27 $11,359.35
GETTY REALTY CORP US GTY 1,049.82 $35,977.16
GILEAD SCIENCES INC US GILD 398.38 $30,651.28
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 18,362.01 $16,825.38
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 31,275.68 $29,247.01
GREENIDGE GEN HLD INC US 1,173.24 $5,572.90
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 50,767.43 $43,706.25
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 41,638.2 $35,890.44
HALLIBURTON CO US HAL 298.97 $8,565.38
HARTFORD FINL SVCS US HIG 110.86 $7,596.23
HAWAII ST 2.68200 10/01/2038 US 8,301.97 $6,302.54
HDFC BANK LTD-ADR IN HDB 7,872.79 $507,007.39
HEALTHCARE REALTY TRUST INC US HR 2,388.58 $44,451.42
HEINEKEN NV NL HEIA NA 874.27 $88,457.19
HEINEKEN NV-SPN ADR NL HEINY 10,918.84 $551,837.99
HELIOS TOWERS PLC GB HTWS LN 13,301.86 $14,983.14
HOME DEPOT INC US HD 217.37 $61,613.73
HONEYWELL INTERNATIONAL INC US HON 194.72 $37,307.59
HUMANA INC US HUM 1,220.95 $612,759.49
HUNTINGTON BANCSHARES US HBAN 560.6 $5,779.78
HWIRE 2021-1 A2 2.31100 11/20/2051 US 89,661.31 $79,613.73
IDEXX LABORATORIES INC US IDXX 1,547.26 $719,117.83
IMCD NV NL IMCD NA 195.12 $29,412.25
IMPRL 2021-NQM3 1.59500 11/25/2056 US 49,167.33 $41,259.90
INTERCONTINENTALEXCHANGE INC US ICE 5,449.86 $577,412.21
INTERMEDIATE CAPITAL GROUP GB ICP LN 2,004.89 $34,798.60
INTERNATIONAL BUSINESS MACH CORP US IBM 186.73 $24,011.94
INTERNATIONAL FLVRS & FRAGRANCES US IFF 106.91 $8,263.17
INTUIT INC US INTU 2,074.96 $869,658.14
INTUITIVE SURGICAL INC US ISRG 2,413.66 $743,022.11
INVITATION HOMES INC US INVH 1,363.94 $46,210.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 19,924.74 $19,056.78
JM SMUCKER CO/THE-NEW COM WI US SJM 62.41 $9,148.08
JOHNSON & JOHNSON US JNJ 11,833.75 $1,834,941.31
JP MORGAN CHASE & CO US JPM 3,015.63 $409,251.55
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 15,853.74 $14,984.71
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 219,986.63 $212,352.40
KELLOGG CO US K 119.49 $7,978.31
KEYENCE CORP JP 6861 JP 112.96 $54,758.86
KEYWORDS STUDIOS PLC IE KWS LN 859.83 $20,803.37
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 41,296.13 $84,394.55
KRAFT HEINZ CO/THE US KHC 334.68 $12,791.62
L'OREAL FR OR FP 38.22 $16,361.64
L3HARRIS TECHNOLOGIES INC US LHX 6,024.1 $1,059,760.18
LEXINGTON REALTY TRUST US LXP 3,127.41 $32,337.43
LIFE STORAGE INC US LSI 317.4 $40,434.20
LINDE PLC IE LIN 854.19 $302,091.55
LOCKHEED MARTIN CORP US LMT 75.23 $33,401.35
LULULEMON - ADR CA LULU 2,204.59 $731,768.42
MARATHON OIL CORP US MRO 253.09 $5,608.44
MARATHON PETROLEUM CORP US MPC 156.34 $16,401.31
MASCO CORP US MAS 22,801.91 $1,101,788.44
MASTERCARD INC-CLASS A US MA 4,525.06 $1,651,736.57
MEDTRONIC INC IE MDT 15,950.57 $1,320,069.22
MEITUAN DIANPING - CLASS B CN 3690 HK 20.1 $282.24
MERCADOLIBRE INC BR MELI 358.2 $443,809.26
MERCK & CO INC US MRK 566.65 $62,563.78
META PLATFORMS INC US META 7,324.69 $1,938,991.77
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 124,529.6 $6,614.98
MICROCHIP TECHNOLOGY INC US MCHP 192.21 $14,466.05
MICRON TECHNOLOGY INC US MU 22,262.2 $1,518,281.96
MICROSOFT CORP US MSFT 3,800.02 $1,247,887.53
MID-AMERICA APARTMENT COMM US MAA 266.31 $39,163.94
MONARCH CASINO & RESORT INC US MCRI 241.32 $15,659.57
MONDELEZ INTERNATIONAL INC US MDLZ 13,103.67 $961,940.30
MOODY'S CORPORATION US MCO 4,042.11 $1,280,865.00
NAVIENT CORP 6.75000 06/25/2025 US 58,979.02 $57,388.97
NESTLE S.A. - ADR CH NSRGY 7,302.99 $867,083.68
NESTLE SA-REGISTERED CH NESN SW 843.77 $100,017.16
NETAPP INC US NTAP 125.86 $8,350.70
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 95,759.25 $86,147.19
NEWMONT GOLDCORP CORP US NEM 4,280.64 $173,579.86
NIKE INC CLASS B US NKE 4,076.61 $429,104.48
NORFOLK SOUTHN CORP US NSC 1,247.92 $259,792.28
NORTHROP GRUMMAN CORP US NOC 2,055.09 $894,972.52
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,844.42 $5.38
NOVARTIS AG- REG CH NVS 6,137.71 $590,754.46
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 17,167.82 $15,699.55
NRZT 2015-2A A1 3.75000 08/25/2055 US 28,599.17 $26,710.14
NRZT 2016-4A A1 3.75000 11/25/2056 US 55,405.44 $50,971.67
OASIS 2023-1A 7.00000 02/15/2035 US 52,672.24 $52,260.26
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 56,805.4 $57,089.43
OMNICOM GROUP US OMC 115.05 $10,146.63
OXFIN 2020-1A A2 3.10100 02/15/2028 US 36,312.08 $35,967.84
OXFIN 2022-1A 3.60200 02/15/2030 US 80,944.24 $74,360.67
OXFIN 2023-1A A2 6.71600 02/15/2031 US 102,944.47 $102,142.00
PACKAGING CORP OF AMERICA US PKG 53.62 $6,650.29
PARAMOUNT GLOBAL CLASS B US PARA 315.25 $4,794.98
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 76,650.52 $72,364.10
PELORUS FUND REIT 7.00000 09/30/2026 US 58,116.12 $54,445.94
PEPSICO INC 3.90000 07/18/2032 US 165,279.29 $159,626.56
PFIZER INC US PFE 1,067.02 $40,568.08
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 79,780.32 $64,371.65
PFMT 2021-2 A2A 2.00000 04/25/2051 US 47,224.58 $40,160.29
PHILLIPS 66 US PSX 123.84 $11,345.14
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 13,537.96 $12,246.00
POPULAR INC 6.12500 09/14/2023 PR 51,255.7 $50,999.42
PPG INDUSTRIES INC US PPG 86.83 $11,400.52
PROLOGIS US PLD 1,676.67 $208,829.73
PUBLIC STORAGE INC US PSA 250.36 $70,926.09
QUALCOMM 5.40000 05/20/2033 US 62,203.99 $65,046.06
QUALCOMM INC US QCOM 316.54 $35,898.92
QUEST DIAGNOSTICS INC US DGX 67.24 $8,919.80
RAYTHEON TECHNOLOGIES CORP US RTX 285.5 $26,306.05
RCKT 2021-6 A1 2.50000 12/25/2051 US 85,561.7 $69,039.95
REALTY INCOME CORP US O 672.41 $39,967.95
REGIONS FINANCIAL CORP. US RF 502.47 $8,677.65
RENAISSANCERE HOLDINGS LTD BM RNR 300.29 $56,566.00
RENTOKIL INITIAL PLC GB RTO LN 9,112.24 $72,484.04
RENTOKIL INITIAL PLC-SP ADR GB RTO 15,927.9 $632,815.27
RESTAURANT BRANDS INTERN CA QSR 689.29 $50,255.86
REXFORD INDUSTRIAL REALITY IN US REXR 827.26 $45,036.10
S&P GLOBAL INC US SPGI 2,280.05 $837,758.10
SALESFORCE INC US CRM 4,609.45 $1,029,659.44
SBA COMMUNICATIONS CORP US SBAC 2,052.06 $455,105.12
SBA TOWER TRUST 6.59900 01/15/2028 US 145,714.37 $150,789.20
SCHLUMBERGER LTD NL SLB 353.23 $15,128.80
SEMT 2013-2 1.87400 02/25/2043 US 9,528.39 $8,300.85
SEMT 2013-6 A2 3.00000 05/25/2043 US 22,931.15 $19,747.85
SEMT 2013-7 A2 3.00000 06/25/2043 US 9,590.17 $8,478.76
SEMT 2013-8 A1 3.00000 06/25/2043 US 11,557.32 $10,263.23
SERVICENOW INC US NOW 3,033.3 $1,652,479.03
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 286,447.56 $232,748.79
SKYWORKS SOLUTIONS INC US SWKS 74.5 $7,711.39
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 65,766.57 $57,874.58
SMB 2020-BA A1A 1.29000 07/15/2053 US 52,913.41 $46,233.91
SNOWFLAKE INC-CLASS A US SNOW 5,151.13 $851,790.55
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 14,694.84 $14,209.38
SONY CORP FIRST SECTION JP 6758 JP 927.9 $87,019.24
SONY CORP SPONSORED ADR JP SONY 5,854.99 $548,612.58
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 56,004.2 $50,579.32
SORT 2020-1 A2 1.99000 07/15/2060 US 45,551.79 $38,293.48
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 160,643.18 $139,252.69
SRPT 2014-STAR A FLTG RATE 6.57800 11/15/2027 US 110,375.76 $80,572.76
STAG INDUSTRIAL INC US STAG 619.34 $21,553.15
SUN COMMUNITIES US SUI 505.18 $63,970.32
SYNCHRONOSS TECH US 1,542.32 $28,532.91
SYSCO CORP US SYY 150.37 $10,518.39
TAH 2017-SFR2 A 2.92800 01/17/2036 US 51,566.53 $50,457.67
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 9,059.19 $893,145.21
TE CONNECTIVITY LIMITED CH TEL 113.12 $13,855.01
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 4,760.78 $44,088.75
TENCENT HOLDINGS 3.97500 04/11/2029 KY 366,629.33 $345,487.67
TENCENT HOLDINGS LTD CN 700 HK 1,952.16 $77,255.51
TERRENO REALTY CORP US TRNO 705.68 $43,279.26
TEXAS INSTRUMENTS INC US TXN 201 $34,950.20
THERMO FISHER SCIENTIFIC INC US TMO 1,225.37 $623,053.77
TOKYO ELECTRON LTD JP 8035 JP 338.87 $46,088.18
TPMT 2016-5 A1 2.50000 10/25/2056 US 14,439.98 $14,184.57
TPMT 2017-1 A1 2.75000 10/25/2056 US 6,771.34 $6,658.30
TPMT 2019-HY1 A1 6.13800 10/25/2048 US 22,191.69 $21,994.04
TRAVELLERS COS INC US TRV 96.99 $16,415.30
TREASURY BILL 0.00000 05/16/2024 US 1,410,902.39 $1,343,315.52
TREASURY BOND 2.37500 02/15/2042 US 1,981,582.87 $1,547,802.00
TREASURY NOTE 2.25000 11/15/2027 US 767,932.51 $718,316.87
TRUIST FINANCIAL CORP US TFC 371.93 $11,332.82
TYSON FOODS INC -CL A US TSN 154.72 $7,835.14
U.S. BANCORP US USB 500.7 $14,970.80
UDR INC US UDR 1,170.83 $46,446.99
UNILEVER PLC - ADR GB UL 18,744.15 $936,082.63
UNION PAC CORP US UNP 2,034.04 $391,593.07
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,394.95 $6,960.12
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 50,938.99 $45,944.58
UNITED PARCEL SERVICE US UPS 188.91 $31,547.75
UNITEDHEALTH GROUP INC US UNH 450.9 $219,696.11
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 20,754.93 $19,866.06
US TEASURY NOTE 1.75000 11/15/2029 US 3,826,557.78 $3,410,718.59
US TREASURY N/B 0.87500 11/15/2030 US 3,583,666.12 $2,947,565.38
US TREASURY N/B 1.37500 11/15/2031 US 1,163,687.86 $972,770.32
US TREASURY N/B 3.00000 05/15/2047 US 296,629.5 $250,234.79
US TREASURY N/B 3.12500 11/15/2028 US 2,260,885.79 $2,187,583.65
US TREASURY N/B 3.62500 02/15/2053 US 532,068.95 $509,539.16
USRE 2021-1 A1 1.91000 10/20/2061 US 101,699.17 $87,767.40
VALERO ENERGY US VLO 98.77 $10,572.16
VENTAS INC US VTR 514.81 $22,208.81
VERTEX PHARMACEUTICALS INC US VRTX 1,736.24 $561,795.58
VISA INC - CLASS A SHARES US V 6,956.58 $1,537,612.67
VISTRA OPERATIONS 4.87500 05/13/2024 US 145,965.92 $143,874.96
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 40,505.98 $39,180.91
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 219,352.69 $200,430.23
WELLS FARGO COMPANY US WFC 710.81 $28,297.36
WELLTOWER INC. US WELL 514.66 $38,398.74
WIN 2015-1 A1 3.50000 01/20/2045 US 5,589.76 $5,096.81

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