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 an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

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 2050
  • Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$23.80

Daily $ Change

-$0.34

Daily % Change

-1.43%

as of 09/29/2022

CUSIP

302027552

Inception Date

05/31/2007

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 08/31/2022

YTD

-18.00%

1 Year

-16.48%

3 Year

8.70%

5 Year

8.89%

10 Year

9.56%

Inception
(01/01/2000)

7.66%

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

Expense Ratio

Gross 0.71%
Net 0.69%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks 83.42%
Bonds 11.15%
Cash 5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities 23.54%
Small Capitalization 2.44%
Mid Capitalization 7.45%
Large Capitalization 49.99%
Long Term Fixed Income 2.48%
Intermediate Term Fixed Income 5.91%
Short Term Fixed Income 2.76%
Cash 5.43%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 145.31 $14,916.34
ACTIVISION INC US ATVI 3,452.79 $271,009.84
ADIDAS AG-SPONSORED ADR DE ADDYY 4,539.13 $336,712.48
ADMIRAL GROUP PLC GB AMIGY 8,988.18 $226,322.31
ADYEN NV UNSPON ADR NL ADYEY 23,892.44 $370,571.76
AGREE REALTY CORP US ADC 125.6 $9,459.85
AIR LIQUIDE-ADR FR AIQUY 11,442.29 $286,858.10
AIR LEASE CORP 3.62500 04/01/2027 US 27,009.77 $25,058.30
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 6,007.94 $6,048.84
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 63,472.97 $53,379.21
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 33,762.22 $28,135.07
ALIGN TECHNOLOGY INC US ALGN 1,229.62 $299,658.38
ALLSTATE CORPORATION US ALL 60.91 $7,339.30
ALPHABET INC-CL A US GOOGL 5,004.91 $541,631.48
AMAZON.COM INC US AMZN 11,133.43 $1,411,384.76
AMAZON.COM INC 3.30000 04/13/2027 US 59,421.5 $58,139.64
DIAGEO PLC GB DGE LN 1,047.3 $45,501.58
BAE SYSTEMS PLC GB BA/ LN 4,099 $36,916.03
AMERICAN HOMES 4 RENT- A US AMH 626.63 $22,282.85
AMERICAN TOWER REIT INC US AMT 69.42 $17,634.91
ANALOG DEVICES INC US ADI 83.06 $12,585.33
APPLE HOSPITALITY REIT INC US APLE 1,373.72 $21,855.84
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 6,752.44 $6,819.43
ARCHER-DANIELS-MIDLAND CO US ADM 95.61 $8,403.57
ARGO BLOCKCHAIN PLC GB 486.18 $8,668.52
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 27,009.77 $24,750.99
AUTOMATIC DATA PROCESSING US ADP 59.42 $14,523.21
AVALONBAY COMMUNITIES INC US AVB 106.69 $21,434.81
BAE SYSTEMS PLC -SPON ADR GB BAESY 8,001.38 $288,849.65
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 25,659.29 $25,259.74
BANK OF AMERICA CORP 2.68700 04/22/2032 US 48,617.59 $40,576.90
BARRICK GOLD CORP CA GOLD 7,538.43 $111,945.65
BAXTER INTERNATIONAL INC US BAX 73.6 $4,229.15
BEST BUY INC US BBY 59.02 $4,171.87
BIOMARIN PHARMACEUTICAL INC US BMRN 3,581.5 $319,469.44
BLACKROCK INC US BLK 691.05 $460,505.52
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 23,633.55 $20,910.97
DECHRA PHARMACEUTICALS PLC GB DPH LN 738.85 $29,881.34
BOSTON SCIENTIFIC CORP US BSX 5,821.96 $234,683.08
BRANDYWINE REALTY TRUST US BDN 780.99 $6,271.33
BRENNTAG AG-UNSP ADR DE BNTGY 15,277.67 $199,984.74
BRISTOL MYERS SQUIBB CO US BMY 275.09 $18,544.12
BROADRIDGE FINANCIAL SOLUTIONS US BR 28.36 $4,854.43
JONAH ENERGY PARENT LLC US 268.88 $15,302.09
CBOE GLOBAL MARKETS INC US CBOE 1,905.54 $224,796.50
CDW CORP/DE US CDW 1,230.16 $209,988.34
C.H. ROBINSON WORLDWIDE INC US CHRW 38.62 $4,408.93
CVS HEALTH CORP US CVS 3,327.06 $326,551.33
COTERRA ENERGY INC US CTRA 134.24 $4,149.31
CAMDEN PROPERTY TRUST US CPT 119.79 $15,394.00
CAMECO CORP CA CCJ 591.11 $17,230.82
CAMPBELL SOUP CO US CPB 84.68 $4,265.96
CANADIAN NATIONAL RAILWAY CO CA CNI 5,353.34 $636,565.32
CARETRUST REIT INC US CTRE 843.38 $18,166.41
CATERPILLAR INC US CAT 73.6 $13,594.96
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 20,414.53 $396,654.26
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 56,585.48 $61,803.10
CHARTER COMMUNICATIONS INC-A US CHTR 1,201.93 $495,954.41
CHEVRON CORP US CVX 133.97 $21,175.06
CINCINNATI FINANCIAL CORP US CINF 38.89 $3,771.17
CISCO SYSTEMS INC US CSCO 466.59 $20,866.08
CITIGROUP INC US C 294 $14,350.21
CITIGROUP INC 1.46200 06/09/2027 US 45,916.62 $40,528.96
CLARK CNTY NV 1.51000 11/01/2028 US 47,267.1 $40,469.10
COCA COLA CO/THE US KO 14,220.78 $877,564.39
COGNEX CORP US CGNX 3,339.08 $140,608.80
COLGATE-PALMOLIVE CO US CL 140.86 $11,016.35
COMCAST CORP-CL A US CMCSA 486.31 $17,599.59
COMMUNITY HEALTHCARE TRUST I US CHCT 258.08 $9,520.51
CONAGRA BRAND INC. US CAG 128.57 $4,420.12
CONOCOPHILLIPS US COP 119.79 $13,110.83
CONSTELLATION BRANDS INC-A US STZ 2,929.07 $720,698.88
CONTROLADORA VUELA CIA DE AV MX VLRS 1,463.25 $12,993.70
COPART INC US CPRT 1,779.27 $212,889.52
COUSINS PROPERTIES INC US CUZ 573.42 $15,396.26
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 33,762.22 $29,889.24
CUMMINS INC US CMI 30.79 $6,631.49
KIMBERLY CLARK DE MEXICO S.A.B. MX 28,643.87 $38,885.65
DEUTSCHE BOERSE AG ADR DE DBOEY 19,002.19 $320,243.84
DEVON ENERGY CORPORATION US DVN 94.53 $6,676.01
DIAMONDBACK ENERGY INC US FANG 28.36 $3,779.86
DIGITAL REALTY TRUST INC US DLR 216.21 $26,730.44
DOLLAR GENERAL CORP US DG 1,657.59 $393,544.97
DOLLAR TREE STORES INC US DLTR 3,469.54 $470,747.25
DOMINO'S PIZZA US DPZ 789.9 $293,732.52
DOUBLEVERIFY HOLDINGS INC US DV 14,936 $386,095.59
DOW INC US DOW 98.18 $5,007.21
DREYFUS GVT CSH MANAGEMENT US 2,524,373.96 $2,524,373.96
DUKE RLTY INVTS INC US DRE 251.33 $14,790.53
EOG RESOURCES INC US EOG 67.66 $8,207.10
EAST WEST BANCORP INC US EWBC 4,554.79 $328,719.43
EASTMAN CHEM CO US EMN 36.19 $3,293.57
EBAY INC US EBAY 90.35 $3,987.04
ELECTRONIC ARTS US EA 3,735.72 $473,951.03
EMERSON ELEC CO US EMR 103.72 $8,477.87
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 62,122.48 $62,793.61
EQUINIX INC US EQIX 902.13 $593,030.86
EQUITY LIFESTYLE PROPERTIES US ELS 442.15 $30,994.71
ESSEX PROPERTY TRUST INC US ESS 65.9 $17,468.47
EVERGY INC US EVRG 4,846.77 $332,149.07
EXPEDIA GROUP INC 3.25000 02/15/2030 US 27,009.77 $23,372.65
EXTRA SPACE STORAGE INC US EXR 53.48 $10,627.95
FMC CORP US FMC 4,056.46 $438,422.51
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 23,633.55 $23,720.18
META PLATFORMS INC US META 3,990.02 $650,093.77
FEDEX CORPORATION US FDX 1,034.88 $218,162.94
FIFTH THIRD BANCORP US FITB 163.95 $5,598.87
GENERAL DYNAMICS CORP US GD 46.73 $10,697.19
GENERAL MLS INC US GIS 118.17 $9,075.28
GENUINE PARTS CO US GPC 36.73 $5,730.76
GETTY REALTY CORP US GTY 333.98 $10,045.99
GILEAD SCIENCES INC US GILD 211.89 $13,448.76
GRAPHIC PACKAGING HOLDING CO US GPK 9,270.83 $206,461.49
GREENIDGE GEN HLD INC US 459.17 $6,432.92
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 2,258.15 $118,033.61
GRUPO AEROPORTUARIO PAC-ADR MX PAC 900.64 $128,404.37
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 616.9 $130,456.53
AIRBUS SE FR AIR FP 214.32 $21,002.14
ADIDAS AG DE ADS GR 277.93 $41,212.42
HCA INC 4.12500 06/15/2029 US 37,813.68 $35,130.09
HDFC BANK LTD-ADR IN HDB 7,249.69 $442,593.78
L'OREAL FR OR FP 28.36 $9,740.16
HEALTHCARE REALTY TRUST INC US HR 846.49 $20,586.55
HEINEKEN NV-SPN ADR NL HEINY 6,500.44 $291,999.87
HESKA CORP US HSKA 2,090.02 $190,337.78
HOME DEPOT INC US HD 103.31 $29,797.36
HONEYWELL INTERNATIONAL INC US HON 92.78 $17,567.62
HUMANA INC US HUM 518.32 $249,715.03
IIP OPERATING PARTNER 5.50000 05/25/2026 US 24,308.8 $21,652.73
IDEXX LABORATORIES INC US IDXX 1,028.26 $357,444.47
KERRY GROUP PLC-A IE KYGA ID 177.86 $18,341.16
ILLINOIS TOOL WKS INC US ITW 52.94 $10,314.14
INDEPENDENCE REALTY TRUST IN US IRT 375.3 $7,299.60
INSPERITY INC US NSP 3,307.35 $360,566.95
INTEL CORP US INTC 504.54 $16,105.00
INTERCONTINENTALEXCHANGE INC US ICE 3,639.57 $367,050.33
INTERNATIONAL FLVRS & FRAGRANCES US IFF 52.67 $5,818.88
INTUITIVE SURGICAL INC US ISRG 1,455.69 $299,494.02
INVITATION HOMES INC US INVH 793.55 $28,789.89
JP MORGAN CHASE & CO US JPM 2,746.22 $312,327.46
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 68,874.92 $66,995.21
JOHNSON & JOHNSON US JNJ 5,037.05 $812,678.09
KEYCORP US KEY 173.67 $3,072.27
KROGER CO US KR 145.99 $6,998.66
L3HARRIS TECHNOLOGIES INC US LHX 1,354.54 $309,092.52
BEIERSDORF AG DE BEI GR 431.75 $43,580.98
LENNAR CORP US LEN 51.18 $3,964.16
LIFE STORAGE INC US LSI 152.47 $19,401.83
LOCKHEED MARTIN CORP US LMT 37.14 $15,602.23
LULULEMON - ADR CA LULU 2,247.35 $674,114.58
MAGALLANES INC 4.05400 03/15/2029 US 64,823.46 $59,000.86
MARATHON PETROLEUM CORP US MPC 74.14 $7,469.79
MARRIOTT VACATIONS WORLD US VAC 69.82 $9,943.80
MASTERCARD INC-CLASS A US MA 2,920.97 $947,475.68
MCDONALDS CORP US MCD 64.15 $16,183.31
MERCADOLIBRE INC BR MELI 312.1 $266,956.09
MERCK & CO INC US MRK 299.81 $25,591.65
MICROSOFT CORP US MSFT 4,713.21 $1,232,361.85
MICROCHIP TECHNOLOGY INC US MCHP 84 $5,481.03
MID-AMERICA APARTMENT COMM US MAA 126.54 $20,964.01
MONDELEZ INTERNATIONAL INC US MDLZ 13,457.48 $832,480.01
MOODY'S CORPORATION US MCO 1,985.08 $564,795.91
MOTOROLA SOLUTIONS INC US MSI 32.95 $8,020.83
NAVIENT CORP 6.75000 06/25/2025 US 24,984.04 $24,119.98
NESTLE S.A. - ADR CH NSRGY 4,809.09 $562,952.10
NETAPP INC US NTAP 59.15 $4,266.59
KEYENCE CORP JP 6861 JP 81.03 $30,424.41
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 12,829.64 $12,404.37
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 28,360.26 $24,609.87
NEWMONT GOLDCORP CORP US NEM 2,294.62 $94,905.29
NIKE INC CLASS B US NKE 2,637.23 $280,733.59
NORFOLK SOUTHN CORP US NSC 1,275 $309,989.87
NIKON CORP JP 7731 JP 1,593.58 $18,191.03
NORTHROP GRUMMAN CORP US NOC 701.71 $335,412.24
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 19,582.09 $1.96
NOVARTIS AG- REG CH NVS 4,780.32 $384,911.75
NUCOR CORP US NUE 48.89 $6,499.13
NVIDIA CORP US NVDA 810.97 $122,407.58
OKTA INC US OKTA 2,235.87 $204,358.43
OMNICOM GROUP US OMC 55.24 $3,695.22
SONY CORP FIRST SECTION JP 6758 JP 337.62 $26,842.08
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 27,009.77 $24,166.85
PPG INDUSTRIES INC US PPG 34.57 $4,390.02
PACKAGING CORP OF AMERICA US PKG 26.74 $3,661.20
PARKER HANNIFIN CORP US PH 19.31 $5,117.68
DEUTSCHE BOERSE AG DE DB1 GR 221.08 $37,378.15
PAYPAL HOLDINGS INC US PYPL 6,758.39 $631,503.55
PELORUS FUND REIT 7.00000 09/30/2026 US 25,659.29 $23,890.02
NESTLE SA-REGISTERED CH NESN SW 570.85 $66,802.75
PEPSICO INC 3.90000 07/18/2032 US 49,968.08 $49,086.16
PFIZER INC US PFE 424.86 $19,216.59
PIONEER NATURAL RESOURCES CO US PXD 29.98 $7,591.75
POPULAR INC 6.12500 09/14/2023 PR 21,607.82 $21,884.53
PROCTER & GAMBLE CO US PG 229.45 $31,650.06
PROLOGIS US PLD 669.71 $83,385.26
PUBLIC STORAGE INC US PSA 117.22 $38,780.69
QUALCOMM INC US QCOM 142.88 $18,898.96
QUALCOMM INC 4.25000 05/20/2032 US 54,019.55 $54,661.31
QUEST DIAGNOSTICS INC US DGX 34.17 $4,281.51
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,407.92 $33,157.08
REGIONS FINANCIAL CORP. US RF 235.53 $5,103.83
REPUBLIC SERVICES INC US RSG 61.58 $8,789.02
RESTAURANT BRANDS INTERN CA QSR 371.92 $21,943.55
REXFORD INDUSTRIAL REALITY IN US REXR 403.26 $25,086.55
GETINGE AB-B SHS SE GETIB SS 1,658.27 $30,713.64
ROSS STORES INC US ROST 54.42 $4,695.22
HEINEKEN NV NL HEIA NA 407.04 $36,584.13
RYANAIR HOLDINGS - ADR IE RYAAY 4,486.32 $326,200.58
S&P GLOBAL INC US SPGI 1,098.76 $386,960.45
SBA COMMUNICATIONS CORP US SBAC 2,196.03 $714,258.65
NAVIENT CORP 5.50000 01/25/2023 US 12,154.4 $12,097.55
SALESFORCE INC US CRM 5,139.01 $802,302.96
SEA LTD - ADR SG SE 6,190.91 $383,836.44
SEAGEN INC US SGEN 1,317.4 $203,261.91
SERVICENOW INC US NOW 1,730.38 $752,058.26
SHOPIFY INC CA SHOP 433.24 $13,711.94
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 85,080.79 $71,236.41
SKYWORKS SOLUTIONS INC US SWKS 29.71 $2,927.99
JM SMUCKER CO/THE-NEW COM WI US SJM 30.25 $4,234.83
SNOWFLAKE INC-CLASS A US SNOW 3,313.56 $599,588.51
SONY CORP SPONSORED ADR JP SONY 5,914.06 $469,280.67
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 49,968.08 $50,893.36
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 11,479.15 $11,421.84
STANLEY BLACK & DECKER INC US SWK 27.55 $2,427.15
STEEL DYNAMICS INC US STLD 50.51 $4,077.03
SUN COMMUNITIES US SUI 208.52 $32,050.91
SYNCHRONOSS TECH US 930.49 $20,210.17
SYNERGY ONE LENDING 5.50000 10/14/2026 US 23,633.55 $20,406.89
TJX COMPANIES INC US TJX 140.05 $8,731.85
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 4,253.23 $354,506.64
TARGET CORP US TGT 49.97 $8,011.88
TENCENT HOLDINGS 3.97500 04/11/2029 KY 109,389.58 $103,098.83
TERRENO REALTY CORP US TRNO 261.45 $15,946.12
TEXAS INSTRUMENTS INC US TXN 87.24 $14,413.18
THERMO FISHER SCIENTIFIC INC US TMO 807.19 $440,175.26
3M CO US MMM 88.46 $10,999.63
TRACTOR SUPPLY COMPANY US TSCO 21.47 $3,975.68
TRAVELLERS COS INC US TRV 45.38 $7,334.64
TYSON FOODS INC -CL A US TSN 75.09 $5,660.07
UDR INC US UDR 643.51 $28,874.20
U.S. BANCORP US USB 239.58 $10,927.09
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 26,614.22 $244,637.87
UNILEVER PLC - ADR GB UL 12,380.06 $561,931.14
UNION PAC CORP US UNP 82.38 $18,495.09
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 29,529.65 $24,876.51
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 3,216.25 $2,998.26
UNITED PARCEL SERVICE US UPS 1,325.64 $257,850.18
US TREASURY N/B 3.00000 05/15/2047 US 1,039,876.29 $949,212.08
US TREASURY N/B 3.12500 11/15/2028 US 1,774,542.14 $1,756,103.55
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 1,048,654.47 $1,036,939.04
UNITEDHEALTH GROUP INC US UNH 515.21 $267,564.75
UNIVERSAL DISPLAY CORP US OLED 3,057.51 $341,615.19
VF CORP US VFC 71.98 $2,983.61
VENTAS INC US VTR 242.01 $11,582.48
VERTEX PHARMACEUTICALS INC US VRTX 1,063.24 $299,578.43
PARAMOUNT GLOBAL CLASS B US PARA 118.71 $2,776.58
VISA INC - CLASS A SHARES US V 3,696.29 $734,489.30
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 12,154.4 $11,720.99
VISTRA OPERATIONS 4.87500 05/13/2024 US 45,916.62 $45,391.83
WAL MART STORES US WMT 265.64 $35,210.73
WALGREENS BOOTS ALLIANCE INC US WBA 132.21 $4,635.38
WASTE MANAGEMENT INC US WM 68.87 $11,641.93
WELLTOWER INC. US WELL 281.44 $21,572.52
ZOETIS INC US ZTS 882.14 $138,081.25
ADMIRAL GROUP PLC GB ADM LN 2,080.56 $51,179.34
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,012.87 $6,628.77
UBISOFT ENTERTAINMENT FR UBI FP 704.14 $32,471.68
DANONE FR BN FP 333.57 $17,552.60
AIR LIQUIDE FR AI FP 486.99 $61,025.62
BRENNTAG AG DE BNR GR 410.82 $26,936.35
KEYWORDS STUDIOS PLC IE KWS LN 322.09 $9,282.90
S4 CAPITAL PLC GB SFOR LN 16,187.9 $24,880.30
HELIOS TOWERS PLC GB HTWS LN 5,872.87 $8,416.23
AVANZA BANK HOLDING AB SE AZA SS 1,560.76 $25,017.47
AMERICAN TANKER INC 7.75000 07/02/2025 US 22,958.31 $22,195.58
SOFTWAREONE HOLDING AG CH SWON SW 2,174.15 $28,583.82
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 716.16 $11,351.20
SEASPAN CORP 6.50000 02/05/2024 MH 27,009.77 $26,806.32
PETROTAL CORP 12.00000 02/16/2024 CA 18,366.65 $18,733.98
FINECOBANK SPA IT FBK IM 4,786.54 $51,753.46
ALLFUNDS GROUP PLC GB ALLFG NA 2,648.17 $20,792.12
ROTORK PLC GB ROR LN 9,126.33 $26,181.69
AUTO TRADER GROUP PLC GB AUTO LN 6,656.42 $50,260.54
CELLNEX TELECOM SA ES CLNX SM 447.42 $17,423.64
ASSA ABLOY AB-B SE ASSAB SS 1,477.7 $29,929.39
CLEANAWAY WASTE MANAGEMENT AU CWY AU 19,542.92 $37,117.98
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,862.19 $29,437.04
ADYEN NV NL ADYEN NA 28.63 $44,180.80
BANK OF N.T. BUTTERFIELD&SON BM NTB 584.09 $19,052.90
BUNGE LIMITED US BG 35.79 $3,549.09
EATON CORP PLC US ETN 70.09 $9,577.15
JOHNSON CONTROLS INTERNATIONAL US JCI 131 $7,092.20
MEDTRONIC INC IE MDT 10,158.92 $893,171.91
ROYALTY PHARMA PLC- CL A US RPRX 105.74 $4,421.13
STONECO LTD-A BR STNE 2,052.34 $19,456.16
TRANE TECHNOLOGIES IE TT 33.63 $5,180.94
ALCON INC CH ALC 3,895.21 $255,837.69
CHUBB LTD CH CB 64.55 $12,203.81
GARMIN LTD CH GRMN 46.05 $4,075.11
TE CONNECTIVITY LIMITED CH TEL 45.51 $5,744.00
LYONDELLBASELL INDU-CL A US LYB 49.97 $4,147.35
PLAYA HOTELS AND RESORTS US PLYA 738.58 $4,845.10
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 25,119.09 $24,155.73

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

A Word About Risk

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

About The Fund Manager

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

Daily Price

$23.80

Daily $ Change

-$0.34

Daily % Change

-1.43%

as of 09/29/2022

CUSIP

302027552

Inception Date

05/31/2007

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

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

Investment Objective

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

Investment Strategy

Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

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 2050
  • Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 08/31/2022

YTD

-18.00%

1 Year

-16.48%

3 Year

8.70%

5 Year

8.89%

10 Year

9.56%

Inception
(01/01/2000)

7.66%

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

Expense Ratio

Gross 0.71%
Net 0.69%*

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

Top Ten Investments

As of 08/31/2022

TREASURY NOTES 6.36%
AMAZON.COM INC 3.21%
MICROSOFT CORP 2.81%
TREASURY BONDS 2.16%
MASTERCARD INC-CLASS A 2.16%
MEDTRONIC INC 2.03%
COCA COLA CO/THE 2.00%
MONDELEZ INTERNATIONAL INC 1.90%
JOHNSON & JOHNSON 1.85%
SALESFORCE INC 1.83%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2022

Stocks
83.42%
Bonds
11.15%
Cash
5.43%

Detailed Asset Class Allocation

As of 08/31/2022

International Equities
23.54%
Small Capitalization
2.44%
Mid Capitalization
7.45%
Large Capitalization
49.99%
Long Term Fixed Income
2.48%
Intermediate Term Fixed Income
5.91%
Short Term Fixed Income
2.76%
Cash
5.43%

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

August Fund Holdings

As of 08/31/2022

Security Description Country Ticker Shares/Par Market Value (USD)
ABBOTT LABORATORIES US ABT 145.31 $14,916.34
ACTIVISION INC US ATVI 3,452.79 $271,009.84
ADIDAS AG-SPONSORED ADR DE ADDYY 4,539.13 $336,712.48
ADMIRAL GROUP PLC GB AMIGY 8,988.18 $226,322.31
ADYEN NV UNSPON ADR NL ADYEY 23,892.44 $370,571.76
AGREE REALTY CORP US ADC 125.6 $9,459.85
AIR LIQUIDE-ADR FR AIQUY 11,442.29 $286,858.10
AIR LEASE CORP 3.62500 04/01/2027 US 27,009.77 $25,058.30
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 6,007.94 $6,048.84
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 63,472.97 $53,379.21
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 33,762.22 $28,135.07
ALIGN TECHNOLOGY INC US ALGN 1,229.62 $299,658.38
ALLSTATE CORPORATION US ALL 60.91 $7,339.30
ALPHABET INC-CL A US GOOGL 5,004.91 $541,631.48
AMAZON.COM INC US AMZN 11,133.43 $1,411,384.76
AMAZON.COM INC 3.30000 04/13/2027 US 59,421.5 $58,139.64
DIAGEO PLC GB DGE LN 1,047.3 $45,501.58
BAE SYSTEMS PLC GB BA/ LN 4,099 $36,916.03
AMERICAN HOMES 4 RENT- A US AMH 626.63 $22,282.85
AMERICAN TOWER REIT INC US AMT 69.42 $17,634.91
ANALOG DEVICES INC US ADI 83.06 $12,585.33
APPLE HOSPITALITY REIT INC US APLE 1,373.72 $21,855.84
ARBOR REALTY TRUST INC 8.00000 04/30/2023 US 6,752.44 $6,819.43
ARCHER-DANIELS-MIDLAND CO US ADM 95.61 $8,403.57
ARGO BLOCKCHAIN PLC GB 486.18 $8,668.52
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 27,009.77 $24,750.99
AUTOMATIC DATA PROCESSING US ADP 59.42 $14,523.21
AVALONBAY COMMUNITIES INC US AVB 106.69 $21,434.81
BAE SYSTEMS PLC -SPON ADR GB BAESY 8,001.38 $288,849.65
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 25,659.29 $25,259.74
BANK OF AMERICA CORP 2.68700 04/22/2032 US 48,617.59 $40,576.90
BARRICK GOLD CORP CA GOLD 7,538.43 $111,945.65
BAXTER INTERNATIONAL INC US BAX 73.6 $4,229.15
BEST BUY INC US BBY 59.02 $4,171.87
BIOMARIN PHARMACEUTICAL INC US BMRN 3,581.5 $319,469.44
BLACKROCK INC US BLK 691.05 $460,505.52
BLACKSTONE SECURED LEND 2.75000 09/16/2026 US 23,633.55 $20,910.97
DECHRA PHARMACEUTICALS PLC GB DPH LN 738.85 $29,881.34
BOSTON SCIENTIFIC CORP US BSX 5,821.96 $234,683.08
BRANDYWINE REALTY TRUST US BDN 780.99 $6,271.33
BRENNTAG AG-UNSP ADR DE BNTGY 15,277.67 $199,984.74
BRISTOL MYERS SQUIBB CO US BMY 275.09 $18,544.12
BROADRIDGE FINANCIAL SOLUTIONS US BR 28.36 $4,854.43
JONAH ENERGY PARENT LLC US 268.88 $15,302.09
CBOE GLOBAL MARKETS INC US CBOE 1,905.54 $224,796.50
CDW CORP/DE US CDW 1,230.16 $209,988.34
C.H. ROBINSON WORLDWIDE INC US CHRW 38.62 $4,408.93
CVS HEALTH CORP US CVS 3,327.06 $326,551.33
COTERRA ENERGY INC US CTRA 134.24 $4,149.31
CAMDEN PROPERTY TRUST US CPT 119.79 $15,394.00
CAMECO CORP CA CCJ 591.11 $17,230.82
CAMPBELL SOUP CO US CPB 84.68 $4,265.96
CANADIAN NATIONAL RAILWAY CO CA CNI 5,353.34 $636,565.32
CARETRUST REIT INC US CTRE 843.38 $18,166.41
CATERPILLAR INC US CAT 73.6 $13,594.96
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 20,414.53 $396,654.26
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 56,585.48 $61,803.10
CHARTER COMMUNICATIONS INC-A US CHTR 1,201.93 $495,954.41
CHEVRON CORP US CVX 133.97 $21,175.06
CINCINNATI FINANCIAL CORP US CINF 38.89 $3,771.17
CISCO SYSTEMS INC US CSCO 466.59 $20,866.08
CITIGROUP INC US C 294 $14,350.21
CITIGROUP INC 1.46200 06/09/2027 US 45,916.62 $40,528.96
CLARK CNTY NV 1.51000 11/01/2028 US 47,267.1 $40,469.10
COCA COLA CO/THE US KO 14,220.78 $877,564.39
COGNEX CORP US CGNX 3,339.08 $140,608.80
COLGATE-PALMOLIVE CO US CL 140.86 $11,016.35
COMCAST CORP-CL A US CMCSA 486.31 $17,599.59
COMMUNITY HEALTHCARE TRUST I US CHCT 258.08 $9,520.51
CONAGRA BRAND INC. US CAG 128.57 $4,420.12
CONOCOPHILLIPS US COP 119.79 $13,110.83
CONSTELLATION BRANDS INC-A US STZ 2,929.07 $720,698.88
CONTROLADORA VUELA CIA DE AV MX VLRS 1,463.25 $12,993.70
COPART INC US CPRT 1,779.27 $212,889.52
COUSINS PROPERTIES INC US CUZ 573.42 $15,396.26
CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 33,762.22 $29,889.24
CUMMINS INC US CMI 30.79 $6,631.49
KIMBERLY CLARK DE MEXICO S.A.B. MX 28,643.87 $38,885.65
DEUTSCHE BOERSE AG ADR DE DBOEY 19,002.19 $320,243.84
DEVON ENERGY CORPORATION US DVN 94.53 $6,676.01
DIAMONDBACK ENERGY INC US FANG 28.36 $3,779.86
DIGITAL REALTY TRUST INC US DLR 216.21 $26,730.44
DOLLAR GENERAL CORP US DG 1,657.59 $393,544.97
DOLLAR TREE STORES INC US DLTR 3,469.54 $470,747.25
DOMINO'S PIZZA US DPZ 789.9 $293,732.52
DOUBLEVERIFY HOLDINGS INC US DV 14,936 $386,095.59
DOW INC US DOW 98.18 $5,007.21
DREYFUS GVT CSH MANAGEMENT US 2,524,373.96 $2,524,373.96
DUKE RLTY INVTS INC US DRE 251.33 $14,790.53
EOG RESOURCES INC US EOG 67.66 $8,207.10
EAST WEST BANCORP INC US EWBC 4,554.79 $328,719.43
EASTMAN CHEM CO US EMN 36.19 $3,293.57
EBAY INC US EBAY 90.35 $3,987.04
ELECTRONIC ARTS US EA 3,735.72 $473,951.03
EMERSON ELEC CO US EMR 103.72 $8,477.87
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 62,122.48 $62,793.61
EQUINIX INC US EQIX 902.13 $593,030.86
EQUITY LIFESTYLE PROPERTIES US ELS 442.15 $30,994.71
ESSEX PROPERTY TRUST INC US ESS 65.9 $17,468.47
EVERGY INC US EVRG 4,846.77 $332,149.07
EXPEDIA GROUP INC 3.25000 02/15/2030 US 27,009.77 $23,372.65
EXTRA SPACE STORAGE INC US EXR 53.48 $10,627.95
FMC CORP US FMC 4,056.46 $438,422.51
FS ENERGY & POWER FUND 7.50000 08/15/2023 US 23,633.55 $23,720.18
META PLATFORMS INC US META 3,990.02 $650,093.77
FEDEX CORPORATION US FDX 1,034.88 $218,162.94
FIFTH THIRD BANCORP US FITB 163.95 $5,598.87
GENERAL DYNAMICS CORP US GD 46.73 $10,697.19
GENERAL MLS INC US GIS 118.17 $9,075.28
GENUINE PARTS CO US GPC 36.73 $5,730.76
GETTY REALTY CORP US GTY 333.98 $10,045.99
GILEAD SCIENCES INC US GILD 211.89 $13,448.76
GRAPHIC PACKAGING HOLDING CO US GPK 9,270.83 $206,461.49
GREENIDGE GEN HLD INC US 459.17 $6,432.92
GRUPO AEROPORTUARIO CEN-ADR MX OMAB 2,258.15 $118,033.61
GRUPO AEROPORTUARIO PAC-ADR MX PAC 900.64 $128,404.37
GRUPO AEROPORTUARIO DEL SURESTE MX ASR 616.9 $130,456.53
AIRBUS SE FR AIR FP 214.32 $21,002.14
ADIDAS AG DE ADS GR 277.93 $41,212.42
HCA INC 4.12500 06/15/2029 US 37,813.68 $35,130.09
HDFC BANK LTD-ADR IN HDB 7,249.69 $442,593.78
L'OREAL FR OR FP 28.36 $9,740.16
HEALTHCARE REALTY TRUST INC US HR 846.49 $20,586.55
HEINEKEN NV-SPN ADR NL HEINY 6,500.44 $291,999.87
HESKA CORP US HSKA 2,090.02 $190,337.78
HOME DEPOT INC US HD 103.31 $29,797.36
HONEYWELL INTERNATIONAL INC US HON 92.78 $17,567.62
HUMANA INC US HUM 518.32 $249,715.03
IIP OPERATING PARTNER 5.50000 05/25/2026 US 24,308.8 $21,652.73
IDEXX LABORATORIES INC US IDXX 1,028.26 $357,444.47
KERRY GROUP PLC-A IE KYGA ID 177.86 $18,341.16
ILLINOIS TOOL WKS INC US ITW 52.94 $10,314.14
INDEPENDENCE REALTY TRUST IN US IRT 375.3 $7,299.60
INSPERITY INC US NSP 3,307.35 $360,566.95
INTEL CORP US INTC 504.54 $16,105.00
INTERCONTINENTALEXCHANGE INC US ICE 3,639.57 $367,050.33
INTERNATIONAL FLVRS & FRAGRANCES US IFF 52.67 $5,818.88
INTUITIVE SURGICAL INC US ISRG 1,455.69 $299,494.02
INVITATION HOMES INC US INVH 793.55 $28,789.89
JP MORGAN CHASE & CO US JPM 2,746.22 $312,327.46
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 68,874.92 $66,995.21
JOHNSON & JOHNSON US JNJ 5,037.05 $812,678.09
KEYCORP US KEY 173.67 $3,072.27
KROGER CO US KR 145.99 $6,998.66
L3HARRIS TECHNOLOGIES INC US LHX 1,354.54 $309,092.52
BEIERSDORF AG DE BEI GR 431.75 $43,580.98
LENNAR CORP US LEN 51.18 $3,964.16
LIFE STORAGE INC US LSI 152.47 $19,401.83
LOCKHEED MARTIN CORP US LMT 37.14 $15,602.23
LULULEMON - ADR CA LULU 2,247.35 $674,114.58
MAGALLANES INC 4.05400 03/15/2029 US 64,823.46 $59,000.86
MARATHON PETROLEUM CORP US MPC 74.14 $7,469.79
MARRIOTT VACATIONS WORLD US VAC 69.82 $9,943.80
MASTERCARD INC-CLASS A US MA 2,920.97 $947,475.68
MCDONALDS CORP US MCD 64.15 $16,183.31
MERCADOLIBRE INC BR MELI 312.1 $266,956.09
MERCK & CO INC US MRK 299.81 $25,591.65
MICROSOFT CORP US MSFT 4,713.21 $1,232,361.85
MICROCHIP TECHNOLOGY INC US MCHP 84 $5,481.03
MID-AMERICA APARTMENT COMM US MAA 126.54 $20,964.01
MONDELEZ INTERNATIONAL INC US MDLZ 13,457.48 $832,480.01
MOODY'S CORPORATION US MCO 1,985.08 $564,795.91
MOTOROLA SOLUTIONS INC US MSI 32.95 $8,020.83
NAVIENT CORP 6.75000 06/25/2025 US 24,984.04 $24,119.98
NESTLE S.A. - ADR CH NSRGY 4,809.09 $562,952.10
NETAPP INC US NTAP 59.15 $4,266.59
KEYENCE CORP JP 6861 JP 81.03 $30,424.41
NEW YORK CITY NY TRANSITIONALFIN 1.58000 05/01/2024 US 12,829.64 $12,404.37
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 28,360.26 $24,609.87
NEWMONT GOLDCORP CORP US NEM 2,294.62 $94,905.29
NIKE INC CLASS B US NKE 2,637.23 $280,733.59
NORFOLK SOUTHN CORP US NSC 1,275 $309,989.87
NIKON CORP JP 7731 JP 1,593.58 $18,191.03
NORTHROP GRUMMAN CORP US NOC 701.71 $335,412.24
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 19,582.09 $1.96
NOVARTIS AG- REG CH NVS 4,780.32 $384,911.75
NUCOR CORP US NUE 48.89 $6,499.13
NVIDIA CORP US NVDA 810.97 $122,407.58
OKTA INC US OKTA 2,235.87 $204,358.43
OMNICOM GROUP US OMC 55.24 $3,695.22
SONY CORP FIRST SECTION JP 6758 JP 337.62 $26,842.08
OWL ROCK TECHNOLOGY 3.75000 06/17/2026 US 27,009.77 $24,166.85
PPG INDUSTRIES INC US PPG 34.57 $4,390.02
PACKAGING CORP OF AMERICA US PKG 26.74 $3,661.20
PARKER HANNIFIN CORP US PH 19.31 $5,117.68
DEUTSCHE BOERSE AG DE DB1 GR 221.08 $37,378.15
PAYPAL HOLDINGS INC US PYPL 6,758.39 $631,503.55
PELORUS FUND REIT 7.00000 09/30/2026 US 25,659.29 $23,890.02
NESTLE SA-REGISTERED CH NESN SW 570.85 $66,802.75
PEPSICO INC 3.90000 07/18/2032 US 49,968.08 $49,086.16
PFIZER INC US PFE 424.86 $19,216.59
PIONEER NATURAL RESOURCES CO US PXD 29.98 $7,591.75
POPULAR INC 6.12500 09/14/2023 PR 21,607.82 $21,884.53
PROCTER & GAMBLE CO US PG 229.45 $31,650.06
PROLOGIS US PLD 669.71 $83,385.26
PUBLIC STORAGE INC US PSA 117.22 $38,780.69
QUALCOMM INC US QCOM 142.88 $18,898.96
QUALCOMM INC 4.25000 05/20/2032 US 54,019.55 $54,661.31
QUEST DIAGNOSTICS INC US DGX 34.17 $4,281.51
RADIUS GLOBAL INFRASTRUCTURE US RADI 2,407.92 $33,157.08
REGIONS FINANCIAL CORP. US RF 235.53 $5,103.83
REPUBLIC SERVICES INC US RSG 61.58 $8,789.02
RESTAURANT BRANDS INTERN CA QSR 371.92 $21,943.55
REXFORD INDUSTRIAL REALITY IN US REXR 403.26 $25,086.55
GETINGE AB-B SHS SE GETIB SS 1,658.27 $30,713.64
ROSS STORES INC US ROST 54.42 $4,695.22
HEINEKEN NV NL HEIA NA 407.04 $36,584.13
RYANAIR HOLDINGS - ADR IE RYAAY 4,486.32 $326,200.58
S&P GLOBAL INC US SPGI 1,098.76 $386,960.45
SBA COMMUNICATIONS CORP US SBAC 2,196.03 $714,258.65
NAVIENT CORP 5.50000 01/25/2023 US 12,154.4 $12,097.55
SALESFORCE INC US CRM 5,139.01 $802,302.96
SEA LTD - ADR SG SE 6,190.91 $383,836.44
SEAGEN INC US SGEN 1,317.4 $203,261.91
SERVICENOW INC US NOW 1,730.38 $752,058.26
SHOPIFY INC CA SHOP 433.24 $13,711.94
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 85,080.79 $71,236.41
SKYWORKS SOLUTIONS INC US SWKS 29.71 $2,927.99
JM SMUCKER CO/THE-NEW COM WI US SJM 30.25 $4,234.83
SNOWFLAKE INC-CLASS A US SNOW 3,313.56 $599,588.51
SONY CORP SPONSORED ADR JP SONY 5,914.06 $469,280.67
SOUTHWEST AIRLINES CO 5.12500 06/15/2027 US 49,968.08 $50,893.36
ONEMAIN FINANCE CORP 5.62500 03/15/2023 US 11,479.15 $11,421.84
STANLEY BLACK & DECKER INC US SWK 27.55 $2,427.15
STEEL DYNAMICS INC US STLD 50.51 $4,077.03
SUN COMMUNITIES US SUI 208.52 $32,050.91
SYNCHRONOSS TECH US 930.49 $20,210.17
SYNERGY ONE LENDING 5.50000 10/14/2026 US 23,633.55 $20,406.89
TJX COMPANIES INC US TJX 140.05 $8,731.85
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 4,253.23 $354,506.64
TARGET CORP US TGT 49.97 $8,011.88
TENCENT HOLDINGS 3.97500 04/11/2029 KY 109,389.58 $103,098.83
TERRENO REALTY CORP US TRNO 261.45 $15,946.12
TEXAS INSTRUMENTS INC US TXN 87.24 $14,413.18
THERMO FISHER SCIENTIFIC INC US TMO 807.19 $440,175.26
3M CO US MMM 88.46 $10,999.63
TRACTOR SUPPLY COMPANY US TSCO 21.47 $3,975.68
TRAVELLERS COS INC US TRV 45.38 $7,334.64
TYSON FOODS INC -CL A US TSN 75.09 $5,660.07
UDR INC US UDR 643.51 $28,874.20
U.S. BANCORP US USB 239.58 $10,927.09
UBISOFT ENTERTAIN-UNSPON ADR FR UBSFY 26,614.22 $244,637.87
UNILEVER PLC - ADR GB UL 12,380.06 $561,931.14
UNION PAC CORP US UNP 82.38 $18,495.09
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 29,529.65 $24,876.51
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 3,216.25 $2,998.26
UNITED PARCEL SERVICE US UPS 1,325.64 $257,850.18
US TREASURY N/B 3.00000 05/15/2047 US 1,039,876.29 $949,212.08
US TREASURY N/B 3.12500 11/15/2028 US 1,774,542.14 $1,756,103.55
UNITED STATES TREAS NTS 1.75000 05/15/2023 US 1,048,654.47 $1,036,939.04
UNITEDHEALTH GROUP INC US UNH 515.21 $267,564.75
UNIVERSAL DISPLAY CORP US OLED 3,057.51 $341,615.19
VF CORP US VFC 71.98 $2,983.61
VENTAS INC US VTR 242.01 $11,582.48
VERTEX PHARMACEUTICALS INC US VRTX 1,063.24 $299,578.43
PARAMOUNT GLOBAL CLASS B US PARA 118.71 $2,776.58
VISA INC - CLASS A SHARES US V 3,696.29 $734,489.30
VISTRA OPERATIONS CO LLC 3.55000 07/15/2024 US 12,154.4 $11,720.99
VISTRA OPERATIONS 4.87500 05/13/2024 US 45,916.62 $45,391.83
WAL MART STORES US WMT 265.64 $35,210.73
WALGREENS BOOTS ALLIANCE INC US WBA 132.21 $4,635.38
WASTE MANAGEMENT INC US WM 68.87 $11,641.93
WELLTOWER INC. US WELL 281.44 $21,572.52
ZOETIS INC US ZTS 882.14 $138,081.25
ADMIRAL GROUP PLC GB ADM LN 2,080.56 $51,179.34
GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,012.87 $6,628.77
UBISOFT ENTERTAINMENT FR UBI FP 704.14 $32,471.68
DANONE FR BN FP 333.57 $17,552.60
AIR LIQUIDE FR AI FP 486.99 $61,025.62
BRENNTAG AG DE BNR GR 410.82 $26,936.35
KEYWORDS STUDIOS PLC IE KWS LN 322.09 $9,282.90
S4 CAPITAL PLC GB SFOR LN 16,187.9 $24,880.30
HELIOS TOWERS PLC GB HTWS LN 5,872.87 $8,416.23
AVANZA BANK HOLDING AB SE AZA SS 1,560.76 $25,017.47
AMERICAN TANKER INC 7.75000 07/02/2025 US 22,958.31 $22,195.58
SOFTWAREONE HOLDING AG CH SWON SW 2,174.15 $28,583.82
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 716.16 $11,351.20
SEASPAN CORP 6.50000 02/05/2024 MH 27,009.77 $26,806.32
PETROTAL CORP 12.00000 02/16/2024 CA 18,366.65 $18,733.98
FINECOBANK SPA IT FBK IM 4,786.54 $51,753.46
ALLFUNDS GROUP PLC GB ALLFG NA 2,648.17 $20,792.12
ROTORK PLC GB ROR LN 9,126.33 $26,181.69
AUTO TRADER GROUP PLC GB AUTO LN 6,656.42 $50,260.54
CELLNEX TELECOM SA ES CLNX SM 447.42 $17,423.64
ASSA ABLOY AB-B SE ASSAB SS 1,477.7 $29,929.39
CLEANAWAY WASTE MANAGEMENT AU CWY AU 19,542.92 $37,117.98
INTERMEDIATE CAPITAL GROUP GB ICP LN 1,862.19 $29,437.04
ADYEN NV NL ADYEN NA 28.63 $44,180.80
BANK OF N.T. BUTTERFIELD&SON BM NTB 584.09 $19,052.90
BUNGE LIMITED US BG 35.79 $3,549.09
EATON CORP PLC US ETN 70.09 $9,577.15
JOHNSON CONTROLS INTERNATIONAL US JCI 131 $7,092.20
MEDTRONIC INC IE MDT 10,158.92 $893,171.91
ROYALTY PHARMA PLC- CL A US RPRX 105.74 $4,421.13
STONECO LTD-A BR STNE 2,052.34 $19,456.16
TRANE TECHNOLOGIES IE TT 33.63 $5,180.94
ALCON INC CH ALC 3,895.21 $255,837.69
CHUBB LTD CH CB 64.55 $12,203.81
GARMIN LTD CH GRMN 46.05 $4,075.11
TE CONNECTIVITY LIMITED CH TEL 45.51 $5,744.00
LYONDELLBASELL INDU-CL A US LYB 49.97 $4,147.35
PLAYA HOTELS AND RESORTS US PLYA 738.58 $4,845.10
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 25,119.09 $24,155.73

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

A Word About Risk

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

About The Fund Manager

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


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