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 15% - 45%.

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

$19.93

Daily $ Change

$0.00

Daily % Change

0.00%

as of 06/24/2019

CUSIP

302027859

Inception Date

05/10/2007

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

Important Documents

Annual Report
Applications & Forms

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

Performance

As of 05/31/2019

YTD

11.96%

1 Year

2.79%

3 Year

9.09%

5 Year

5.39%

10 Year

9.91%

Inception
(01/01/2000)

7.01%

US Stock Market Cycle (04/01/2000 - 05/31/2019)

7.16%

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. 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 0.92%
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 05/31/2019

TREASURY NOTES 6.20%
MASTERCARD INC-CLASS A 2.34%
COCA COLA CO/THE 2.16%
MICROSOFT CORP 2.16%
MONDELEZ INTERNATIONAL INC 2.11%
VISA INC - CLASS A SHARES 2.02%
JOHNSON & JOHNSON 1.94%
BERKSHIRE HATHAWAY INC-CL B 1.92%
AMERICAN TOWER REIT INC 1.81%
MEDTRONIC INC 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2019

Stocks 84.93%
Bonds 14.34%
Cash 0.73%

Detailed Asset Class Allocation

As of 05/31/2019

International Equities 25.12%
Small Capitalization 1.34%
Mid Capitalization 4.23%
Large Capitalization 54.24%
Long Term Fixed Income 2.64%
Intermediate Term Fixed Income 8.04%
Short Term Fixed Income 3.66%
Cash 0.73%

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

May Fund Holdings

As of 05/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 8,958.42 $9,048.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 82,417.43 $85,889.11
00287Y109 ABBVIE INC US ABBV 191.35 $14,678.59
004239109 ACADIA REALTY TRUST US AKR 142.44 $3,895.70
00507V109 ACTIVISION INC US ATVI 11,715.82 $508,114.96
00751Y106 ADVANCE AUTO PARTS INC US AAP 3,767.01 $583,887.16
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 82,417.43 $85,031.05
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 2,846.09 $20,075.85
008492100 AGREE REALTY CORP US ADC 87.79 $5,877.71
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 86,896.64 $88,302.27
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 33.15 $4,852.93
01609W102 ALIBABA GROUP - ADR CN BABA 154.98 $23,132.40
020002101 ALLSTATE CORPORATION US ALL 45.69 $4,363.65
02079K107 ALPHABET INC-CL C US GOOG 842.99 $930,345.68
02079K305 ALPHABET INC-CL A US GOOGL 839.4 $928,800.06
02209S103 ALTRIA GROUP INC US MO 8,393.14 $411,767.45
023135106 AMAZON.COM INC US AMZN 486.44 $863,468.58
02319V103 AMBEV SA-ADR BR ABEV 153,729.11 $687,169.10
0237400 DIAGEO PLC GB DGE LN 14,844.1 $624,367.60
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 9,854.26 $9,891.21
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 139.75 $6,473.28
0263494 BAE SYSTEMS PLC GB BA/ LN 4,316.16 $24,674.89
02665T306 AMERICAN HOMES 4 RENT- A US AMH 897.63 $21,911.23
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 15,229.31 $14,772.43
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 12,541.78 $12,664.22
03027X100 AMERICAN TOWER REIT INC US AMT 6,451.85 $1,346,952.98
03064D108 AMERICOLD REALTY TRUST US COLD 133.48 $4,177.94
031162100 AMGEN INC US AMGN 84.75 $14,127.26
03748R754 APARTMENT INVT & MGMT CO -A US AIV 259.79 $12,976.71
03784Y200 APPLE HOSPITALITY REIT INC US APLE 247.25 $3,817.58
038222105 APPLIED MATERIALS INC US AMAT 127.93 $4,949.46
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 89.58 $3,432.87
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 1,791.68 $1,720.02
0405207 HALMA PLC GB HLMA LN 630.67 $14,450.88
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 3,583.37 $3,350.45
0490656 KERRY GROUP PLC-A IE KYGA LN 256.21 $29,481.42
05278C107 AUTOHOME INC-ADR CN ATHM 235.61 $20,238.58
053332102 AUTOZONE INC US AZO 1,180.72 $1,212,728.53
053484101 AVALONBAY COMMUNITIES INC US AVB 159.46 $32,371.94
054937107 BB&T CORP US BBT 95.86 $4,481.22
05722G100 BAKER HUGHES A GE CO US BHGE 156.41 $3,348.82
060505104 BANK OF AMERICA CORP US BAC 627.09 $16,680.57
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 123,626.14 $127,605.44
0673123 ASSOCIATED BRITISH FOODS PLC GB ABF LN 869.86 $27,112.62
0682538 PERSIMMON PLC GB PSN LN 810.74 $20,167.34
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 7,213.32 $1,424,052.96
086516101 BEST BUY INC US BBY 61.99 $3,885.05
0870612 LLOYDS BANKING GROUP PLC GB LLOY LN 34,119.92 $24,662.08
0878230 TAYLOR WIMPEY PLC GB TW/ LN 9,621.34 $20,102.33
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 8,620.68 $708,965.03
0922320 SMITH & NEPHEW PLC GB SN/ LN 1,414.53 $29,717.73
09247X101 BLACKROCK INC US BLK 2,305.9 $958,238.26
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,909.93 $35,316.59
097023105 BOEING CO US BA 58.41 $19,953.05
09857L108 BOOKING HOLDINGS INC US BKNG 729.22 $1,207,740.57
101121101 BOSTON PROPERTIES INC US BXP 175.59 $22,971.78
101137107 BOSTON SCIENTIFIC CORP US BSX 13,655.31 $524,500.59
105368203 BRANDYWINE REALTY TRUST US BDN 1,143.09 $17,272.15
110122108 BRISTOL MYERS SQUIBB CO US BMY 211.06 $9,575.80
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 355.65 $12,330.35
11134LAB5 BROADCOM CRP / CAYMN FI 2.37500 01/15/2020 US 116,459.41 $116,142.40
11135F101 BROADCOM INC US AVGO 47.12 $11,857.60
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,854.26 $8,844.20
12503M108 CBOE GLOBAL MARKETS INC US CBOE 6,640.87 $720,800.44
125269100 CF INDUSTRIES HOLDINGS INC US CF 7,608.38 $306,161.32
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 41.75 $3,324.25
12572Q105 CME GROUP INC US CME 3,777.76 $725,784.03
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 80,625.74 $80,524.96
126650100 CVS HEALTH CORP US CVS 174.15 $9,120.32
133131102 CAMDEN PROPERTY TRUST US CPT 42.1 $4,351.93
13321L108 CAMECO CORP CA CCJ 1,628.1 $16,427.55
149123101 CATERPILLAR INC US CAT 72.2 $8,650.86
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 13,437.62 $13,101.68
156504AJ1 CENTURY COMMUNITIES 6.75000 06/01/2027 US 8,958.42 $8,821.35
165240102 CHESAPEAKE LODGING TRUST US CHSP 204.25 $5,876.33
166764100 CHEVRON CORP US CVX 147.99 $16,849.01
17275R102 CISCO SYSTEMS INC US CSCO 437.17 $22,745.99
172967424 CITIGROUP INC US C 183.29 $11,391.42
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 41,208.71 $63,668.67
191216100 COCA COLA CO/THE US KO 32,723.3 $1,607,695.83
192422103 COGNEX CORP US CGNX 6,146.37 $249,542.59
194162103 COLGATE-PALMOLIVE CO US CL 7,727.53 $537,990.61
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 496.3 $30,458.55
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 308.17 $12,058.67
205887102 CONAGRA BRAND INC. US CAG 101.77 $2,724.32
21036PAM0 CONSTELLATION BRANDS INC 3.87500 11/15/2019 US 37,625.35 $37,805.02
222795106 COUSINS PROPERTIES INC US CUZ 1,820.35 $16,474.17
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 111,084.36 $112,792.06
22822V101 CROWN CASTLE INTL CORP US CCI 96.75 $12,578.58
228368106 CROWN HOLDINGS INC US CCK 9,195.81 $509,723.97
229663109 CUBESMART US CUBE 181.86 $6,132.18
231021106 CUMMINS INC US CMI 32.25 $4,862.05
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 8,958.42 $9,059.20
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 748.03 $5,445.84
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 6,521.73 $13,600.00
2521800 LOBLAW COMPANIES LTD CA L CN 600.21 $30,801.15
25271C102 DIAMOND OFFSHORE DRILLING US DO 17,157.16 $135,026.84
253868103 DIGITAL REALTY TRUST INC US DLR 117.36 $13,815.06
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 84,209.11 $84,334.72
256677105 DOLLAR GENERAL CORP US DG 7,087.9 $902,147.75
256746108 DOLLAR TREE STORES INC US DLTR 10,159.74 $1,032,127.95
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 9,854.26 $10,075.98
25960P109 DOUGLAS EMMETT INC US DEI 202.46 $8,157.12
260557103 DOW INC US DOW 100.69 $4,708.39
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 22,396.04 $22,704.43
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 23,291.88 $22,025.97
269246401 ETRADE FINANCIAL CORP US ETFC 5,019.4 $224,869.14
2715777 QUEBECOR INC -CL B CA QBR/B CN 21,804.78 $514,629.05
277432100 EASTMAN CHEM CO US EMN 39.42 $2,558.95
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 24,847.06 $504,625.53
285512109 ELECTRONIC ARTS US EA 11,823.32 $1,100,514.39
2866857 LUNDIN MINING CORP CA LUN CN 36,214.4 $161,834.09
291011104 EMERSON ELEC CO US EMR 109.47 $6,594.58
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 51,958.81 $58,473.63
29444U700 EQUINIX INC US EQIX 1,584.74 $769,852.69
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 91.38 $11,116.79
29476L107 EQUITY RESIDENTIAL US EQR 361.02 $27,643.62
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 435.92 $9,267.59
297178105 ESSEX PROPERTY TRUST INC US ESS 65.4 $19,078.76
30225T102 EXTRA SPACE STORAGE INC US EXR 64.5 $6,911.88
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 17,916.83 $18,096.00
30303M102 FACEBOOK INC -A US FB 2,597.04 $460,897.54
311900104 FASTENAL CO US FAST 125.42 $3,836.53
3134865 BARCLAYS PLC GB BARC LN 7,082.52 $13,347.63
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 32.25 $4,216.08
31428X106 FEDEX CORPORATION US FDX 4,141.48 $638,946.87
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 8,062.57 $8,171.42
316773100 FIFTH THIRD BANCORP US FITB 147.1 $3,898.08
32054K103 FIRST INDUSTRIAL REALTY TR US FR 212.31 $7,369.43
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 3,583.37 $3,565.45
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 19,708.52 $20,004.14
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 14,333.47 $14,405.13
35671D857 FREEPORT-MCMORAN INC US FCX 25,234.07 $245,022.78
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 75,250.69 $75,503.56
364760108 GAP INC US GPS 113.41 $2,118.57
369550108 GENERAL DYNAMICS CORP US GD 33.5 $5,388.19
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 60,917.23 $56,683.48
370334104 GENERAL MLS INC US GIS 120.04 $5,934.91
37045VAR1 GENERAL MOTORS CO FLT 3.50063 09/10/2021 US 60,917.23 $60,856.63
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 11,645.94 $10,947.18
372460105 GENUINE PARTS CO US GPC 38.88 $3,845.19
374297109 GETTY REALTY CORP US GTY 246.36 $7,627.20
375558103 GILEAD SCIENCES INC US GILD 188.13 $11,710.89
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 22,754.38 $23,095.69
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 37,625.35 $38,967.51
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 93.17 $9,119.24
40060QAA3 GTCR AP FINANCE INC 8.00000 05/15/2027 US 1,791.68 $1,755.85
4012250 AIRBUS SE FR AIR FP 203.36 $26,036.46
4031879 VEOLIA ENVIRONMENT FR VIE FP 189.92 $4,395.72
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 3,583.37 $3,117.53
40414L109 HCP INC US HCP 443.44 $14,061.53
4057808 L'OREAL FR OR FP 86 $23,072.43
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 87.79 $33,128.15
406216101 HALLIBURTON CO US HAL 22,926.38 $488,102.59
4162791 THALES SA FR HO FP 22.4 $2,465.41
4163437 CAPGEMINI FR CAP FP 51.06 $5,708.56
416515104 HARTFORD FINL SVCS US HIG 59.3 $3,122.99
421946104 HEALTHCARE REALTY TRUST INC US HR 378.05 $12,188.18
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 601.11 $17,305.95
427866108 HERSHEY CO/THE US HSY 41.21 $5,437.90
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 100.33 $8,973.90
437076102 HOME DEPOT INC US HD 116.46 $22,109.82
438516106 HONEYWELL INTERNATIONAL INC US HON 86.9 $14,277.99
44107P104 HOST MARRIOTT CORP US HST 455.98 $8,257.86
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 19,708.52 $19,615.49
4457624 TRIGANO SA FR TRI FP 55.54 $4,189.62
452308109 ILLINOIS TOOL WKS INC US ITW 48.38 $6,755.15
45337C102 INCYTE CORP US INCY 4,788.27 $376,501.93
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 745.34 $8,183.84
458140100 INTEL CORP US INTC 493.79 $21,746.42
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 8,210.39 $674,976.02
4588364 MICHELIN (CGDE)-B FR ML FP 60.92 $6,986.15
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 111.98 $14,220.37
460146103 INTERNATIONAL PAPER CO US IP 70.95 $2,942.32
46120E602 INTUITIVE SURGICAL INC US ISRG 1,389.45 $645,885.98
46187W107 INVITATION HOMES INC US INVH 598.78 $15,346.74
46625H100 JP MORGAN CHASE & CO US JPM 245.28 $25,990.02
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 57,333.86 $60,079.76
4682329 PERNOD-RICARD SA FR RI FP 186.34 $32,852.51
4741844 MERCK KGAA DE MRK GR 3,386.28 $326,786.37
476405105 JERNIGAN CAPITAL INC US JCAP 521.38 $11,011.54
478160104 JOHNSON & JOHNSON US JNJ 11,002.37 $1,442,960.59
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 22,396.04 $13,157.67
4821100 SOLVAY SA BE SOLB BB 309.07 $29,047.11
4824778 SGS SA-REG CH SGSN SW 5.38 $13,557.14
482480100 KLA-TENCOR CORPORATION US KLAC 37.8 $3,896.51
4834108 SCHNEIDER ELECTRIC SE FR SU FP 178.27 $14,080.02
4834777 VIVENDI FR VIV FP 334.15 $8,997.48
487836108 KELLOGG CO US K 67.9 $3,569.08
493267108 KEYCORP US KEY 200.67 $3,204.68
494368103 KIMBERLY CLARK CORP US KMB 59.3 $7,584.48
49446R109 KIMCO REALTY CORP US KIM 379.84 $6,609.16
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 62,708.91 $77,220.57
500255104 KOHLS CORP US KSS 52.85 $2,606.79
50050N103 KONTOOR BRANDS INC US KTB 10.39 $304.48
501044101 KROGER CO US KR 126.31 $2,881.21
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 24,187.72 $24,369.13
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 8,958.42 $9,003.21
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 9,854.26 $10,162.20
5107401 BEIERSDORF AG DE BEI GR 6,573.69 $756,439.52
512807108 LAM RESEARCH CORP US LRCX 21.86 $3,816.72
5176177 ORANGE FR ORA FP 656.65 $10,161.73
5253973 HERMES INTERNATIONAL FR RMS FP 10.75 $7,143.06
5263574 FLSMIDTH & CO A/S DK FLS DC 75.25 $2,956.53
529043101 LEXINGTON REALTY TRUST US LXP 751.61 $6,892.27
531172104 LIBERTY PROPERTY TRUST US LPT 334.15 $15,862.05
5330047 DASSAULT SYSTEMES SA FR DSY FP 49.27 $7,310.67
53815P108 LIVERAMP HOLDINGS INC US RAMP 11,863.81 $609,562.53
539830109 LOCKHEED MARTIN CORP US LMT 36.19 $12,252.44
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 8,958.42 $8,712.06
5474008 BANKINTER S.A. ES BKT SM 2,722.46 $19,642.37
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 7.17 $14,071.01
550021109 LULULEMON - ADR CA LULU 5,031.4 $833,150.32
5505072 KERING FR KER FP 26.88 $13,988.57
5533976 SWISSCOM AG-REG CH SCMN SW 62.71 $29,994.24
5545670 JUNGHEINRICH AG DE JUN3 GR 294.73 $8,317.15
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 18,812.67 $18,060.17
5608915 ALTEN SA FR ATE FP 84.21 $8,541.24
563571AL2 MANITOWOC COMPANY INC 9.00000 04/01/2026 US 3,583.37 $3,484.82
56585A102 MARATHON PETROLEUM CORP US MPC 124.7 $5,735.01
5669354 REPSOL SA ES REP SM 1,651.75 $26,595.38
5671735 SANOFI-AVENTIS FR SAN FP 372.67 $30,096.01
5727973 SIEMENS AG-REG DE SIE GR 89.58 $10,152.06
57636Q104 MASTERCARD INC-CLASS A US MA 6,907.83 $1,737,251.32
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 58.77 $3,090.57
585464100 MELCO CROWN ENTERTAINME-ADR HK MLCO 682.63 $13,174.78
58933Y105 MERCK & CO INC US MRK 3,980.76 $315,316.14
594918104 MICROSOFT CORP US MSFT 12,967.31 $1,603,796.55
59522J103 MID-AMERICA APARTMENT COMM US MAA 116.46 $13,297.34
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 2.15 $14,094.46
5980613 GIVAUDAN - REG CH GIVN SW 5.38 $14,211.24
5986622 KONINKLIJKE PHILIPS NV NL PHIA NA 701.44 $27,798.19
6055112 AYALA LAND INC PH ALI PM 13,598.88 $12,936.38
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 3,556.49 $5,514.23
60871R209 MOLSON COORS BREWING CO -B US TAP 47.48 $2,610.43
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 30,831.11 $1,567,761.71
6108179 HARMONIC DRIVE SYSTEMS INC JP 6324 JP 250.84 $8,196.56
615369105 MOODY'S CORPORATION US MCO 2,700.07 $493,788.18
61744YAG3 MORGAN STANLEY FLT 3.77988 05/08/2024 US 120,042.77 $121,340.80
6194037 KAKAO CORP KR 035720 KS 266.96 $27,881.13
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 1,791.68 $1,655.07
6211732 DAEWOO SHIPBUILDING& MARINE KR 042660 KS 297.42 $7,442.99
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 18,812.67 $18,765.64
6250025 DAIFUKU CO LTD JP 6383 JP 179.17 $8,912.65
6272483 DMCI HOLDINGS INC PH DMC PM 18,741.01 $3,801.30
6284864 GLOBE TELECOM INC PH GLO PM 153.19 $6,372.96
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 17,020.99 $16,723.12
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 26,516.91 $17,618.48
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 10,750.1 $9,429.99
6356934 FANUC LTD JP 6954 JP 125.42 $21,149.87
637417106 NATIONAL RETAIL PROPERTIES US NNN 150.5 $8,056.34
637870106 NATIONAL STORAGE AFFILIATES US NSA 156.77 $4,670.25
63902MAE8 NATURAL RESRCE PART LP 9.12500 06/30/2025 US 1,791.68 $1,823.04
64110D104 NETAPP INC US NTAP 43.72 $2,588.05
6441506 HOYA CORP JP 7741 JP 412.09 $28,524.21
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 277.71 $27,371.08
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 568.86 $22,925.15
6465874 GALAXY ENTERTAINMENT GROUP L HK 27 HK 3,045.86 $18,442.19
6474494 JOLLIBEE FOODS CORP PH JFC PM 1,184.3 $6,547.13
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 251.73 $21,560.80
6490995 KEYENCE CORP JP 6861 JP 615.44 $345,788.63
6499550 KYOWA KIRIN CO LTD JP 4151 JP 16,626.82 $312,961.94
6514442 METROPOLITAN BANK & TRUST PH MBT PM 4,679.88 $6,426.32
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 7,883.41 $12,916.46
654106103 NIKE INC CLASS B US NKE 13,137.52 $1,013,428.07
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 21,500.2 $16,716.40
6687571 NABTESCO CORP JP 6268 JP 322.5 $8,032.17
66987V109 NOVARTIS AG- REG CH NVS 7,775.91 $665,928.51
670346105 NUCOR CORP US NUE 77.4 $3,715.23
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,854.26 $10,199.16
6742340 SHANDONG WEIGAO CN 1066 HK 14,333.47 $12,469.86
674599105 OCCIDENTAL PETROLEUM CORP US OXY 103.38 $5,145.23
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,001.55 $6,602.43
680665205 OLIN CORP US OLN 13,947.36 $273,507.69
6818843 SM PRIME HOLDINGS INC PH SMPH PM 18,932.72 $14,475.89
6821120 SONIC HEALTHCARE LTD AU SHL AU 1,588.33 $28,751.06
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6919519 UNIVERSAL ROBINA CORP PH URC PM 2,479.69 $7,943.14
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 576.03 $14,097.58
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 13,437.62 $13,587.72
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,683.05 $369,267.00
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7103065 NOVARTIS AG-REG CH NOVN SW 375.36 $32,257.47
7103526 PEUGEOT SA FR UG FP 189.02 $4,219.02
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 165.73 $43,529.52
7110902 TECAN GROUP AG-REG CH TECN SW 29.56 $7,067.02
7123870 NESTLE SA-REGISTERED CH NESN SW 8,193.37 $812,771.78
7133608 EQUINOR ASA NO EQNR NO 1,293.6 $24,710.08
713448108 PEPSICO INC US PEP 8,900.19 $1,139,223.85
7145056 ENI SPA IT ENI IM 1,625.95 $24,491.09
7156036 SONOVA HOLDING AG-REG CH SOON SW 146.02 $32,514.21
717081103 PFIZER INC US PFE 604.51 $25,099.42
718172109 PHILIP MORRIS INTERNATIONAL US PM 8,482.72 $654,272.51
718546104 PHILLIPS 66 US PSX 59.13 $4,777.34
71943U104 PHYSICIANS REALTY TRUST US DOC 1,036.49 $18,978.11
7212477 ESSILORLUXOTTICA FR EL FP 101.23 $11,602.61
7262610 CREDIT AGRICOLE SA FR ACA FP 355.65 $4,042.41
729640102 PLYMOUTH INDUSTRIAL REIT INC US 171.11 $3,042.26
7309681 BNP PARIBAS FR BNP FP 386.11 $17,705.43
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 158.56 $5,719.27
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 125,417.82 $129,949.71
74340W103 PROLOGIS US PLD 529.44 $39,004.02
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 77,042.38 $80,701.89
74460D109 PUBLIC STORAGE INC US PSA 85.11 $20,244.77
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756109104 REALTY INCOME CORP US O 68.98 $4,834.10
7591EP100 REGIONS FINANCIAL CORP. US RF 179.35 $2,480.38
76131D103 RESTAURANT BRANDS INTERN CA QSR 190.81 $12,555.58
7698356 GETINGE AB-B SHS SE GETIB SS 1,281.05 $17,372.21
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773903109 ROCKWELL AUTOMATION INC US ROK 19.71 $2,933.61
7742468 GECINA SA FR GFC FP 60.02 $8,582.82
77714PAB5 SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 US 14,333.47 $14,190.13
7792559 HEINEKEN NV NL HEIA NA 270.54 $28,397.83
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 640.53 $40,263.51
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 159.46 $10,399.97
78409V104 S&P GLOBAL INC US SPGI 2,346.21 $501,807.21
78410G104 SBA COMMUNICATIONS CORP US SBAC 5,599.91 $1,211,875.62
78442PGC4 SLM CORP 5.12500 04/05/2022 US 19,708.52 $19,215.80
78463V107 SPDR GOLD SHARES US 460.46 $56,788.85
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 112,876.04 $125,391.16
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 80,625.74 $84,603.87
806857108 SCHLUMBERGER LTD NL SLB 12,453.27 $432,004.05
808513105 CHARLES SCHWAB CORP/THE US SCHW 5,607.07 $233,310.29
81141R100 SEA LTD - ADR SG SE 30,816.95 $876,434.09
812578102 SEATTLE GENETICS INC US SGEN 5,676.05 $369,340.73
81762P102 SERVICENOW INC US NOW 4,879.65 $1,278,126.51
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,854.26 $9,115.19
828806109 SIMON PROPERTY GROUP INC US SPG 233.81 $37,899.02
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 28.85 $3,506.53
84265V105 SOUTHERN COPPER CORPORATION US SCCO 9,949.22 $335,587.08
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 77,042.38 $78,760.23
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 17,020.99 $15,824.24
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 8,958.42 $9,316.75
85254J102 STAG INDUSTRIAL INC US STAG 327.88 $9,567.48
855030AN2 STAPLES INC 7.50000 04/15/2026 US 14,333.47 $13,761.70
862121100 STORE CAPITAL CORP US STOR 139.75 $4,782.29
866674104 SUN COMMUNITIES US SUI 150.5 $19,003.81
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 388.8 $5,217.63
867914103 SUNTRUST BANKS INC US STI 74.35 $4,462.03
871829107 SYSCO CORP US SYY 93.88 $6,461.11
874080104 TAL EDUCATION GROUP - ADR CN TAL 199.77 $6,874.18
876664103 TAUBMAN CTRS INC US TCO 57.33 $2,543.33
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 12,541.78 $11,538.44
88160RAE1 TESLA INC 5.30000 08/15/2025 US 1,791.68 $1,460.26
882508104 TEXAS INSTRUMENTS INC US TXN 120.94 $12,615.11
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,513.08 $403,961.15
88579Y101 3M CO US MMM 80.8 $12,908.58
88650V208 TIER REIT INC US TIER 569.76 $15,337.81
89417E109 TRAVELLERS COS INC US TRV 34.4 $5,007.65
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 17,020.99 $16,346.11
902494103 TYSON FOODS INC -CL A US TSN 53.93 $4,092.72
902653104 UDR INC US UDR 324.29 $14,521.91
902973304 U.S. BANCORP US USB 217.33 $10,910.02
903002103 UMH PROPERTIES INC US UMH 307.27 $4,089.81
904767704 UNILEVER PLC - ADR GB UL 15,401.13 $938,082.81
907818108 UNION PAC CORP US UNP 87.08 $14,522.50
911312106 UNITED PARCEL SERVICE US UPS 127.93 $11,886.90
912796SJ9 TREASURY BILL 0.00000 09/19/2019 US 1,098,301.8 $1,090,727.64
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 583,192.88 $788,608.90
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 246,710.39 $248,447.55
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 404,024.56 $437,987.88
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 752,506.94 $790,455.64
9128286B1 US TREASURY N/B 2.62500 02/15/2029 US 2,144,644.79 $2,234,703.12
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 751,498.59 $745,480.73
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 816,111.7 $794,529.37
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 768,632.09 $785,566.02
913017109 UNITED TECHNOLOGIES CORP US UTX 102.48 $12,943.76
91324P102 UNITEDHEALTH GROUP INC US UNH 2,266.48 $548,034.68
91704F104 URBAN EDGE PROPERTIES US UE 554.53 $9,565.57
918204108 VF CORP US VFC 72.74 $5,956.14
91913Y100 VALERO ENERGY US VLO 78.12 $5,499.46
92189F106 MARKET VECTORS GOLD MINERS US 1,237.16 $26,710.23
92276F100 VENTAS INC US VTR 246.36 $15,840.72
92339V100 VEREIT INC US VER 1,496.95 $13,292.93
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 112,876.04 $136,507.11
92511U102 VERRA MOBILITY CORP US VRRM 53,158.34 $743,153.66
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 2,203.77 $366,222.55
92553P201 VIACOM INC CL B US VIAB 98.18 $2,850.29
92826C839 VISA INC - CLASS A SHARES US V 9,301.52 $1,500,614.76
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 12,541.78 $12,211.93
929042109 VORNADO REALTY TRUST US VNO 129 $8,543.75
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 9,854.26 $9,694.13
931142103 WAL MART STORES US WMT 262.66 $26,644.31
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 139.03 $6,859.97
94106L109 WASTE MANAGEMENT INC US WM 71.31 $7,797.64
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 17,020.99 $16,723.12
948741103 WEINGARTEN REALTY INVESTORS US WRI 358.34 $10,105.09
949746101 WELLS FARGO COMPANY US WFC 469.6 $20,836.16
95040Q104 WELLTOWER INC. US WELL 199.77 $16,225.54
958102105 WESTERN DIGITAL CORP US WDC 71.13 $2,647.45
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 15,229.31 $15,115.09
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 15,229.31 $15,079.60
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 64,500.6 $65,272.53
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 23,291.88 $22,506.95
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 1,881.27 $20,874.94
B02L3W3 BERKELEY GROUP HOLDINGS GB BKG LN 453.3 $20,038.44
B037JC2 NEXITY FR NXI FP 98.54 $4,344.49
B058TZ6 SAFRAN SA FR SAF FP 110.19 $14,457.35
B068DB9 SM INVESTMENTS CORP PH SM PM 554.53 $10,020.60
B07DRZ5 RECORDATI SPA IT REC IM 736.38 $30,418.58
B0C2CQ3 ENGIE FR ENGI FP 621.71 $8,667.60
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 1,092.93 $12,931.14
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 6,224.31 $415,609.14
B11ZRK9 LEGRAND SA FR LR FP 84.21 $5,660.91
B15C557 TOTAL SA FR FP FP 495.4 $25,685.48
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,789 $26,873.84
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 2,024.6 $12,241.36
B1L3CS6 UBISOFT ENTERTAINMENT FR UBI FP 352.42 $28,800.07
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 275.02 $12,757.14
B1XH026 VINCI SA FR DG FP 286.67 $28,268.95
B1Y9TB3 DANONE FR BN FP 804.11 $64,231.86
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 2,150.02 $13,240.43
B1YXBJ7 AIR LIQUIDE FR AI FP 139.75 $17,376.76
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 8,492.58 $5,942.74
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 766.84 $5,666.54
B3NB1P2 SUNCOR ENERGY INC CA SU CN 658.44 $20,290.16
B4JSTL6 WYNN MACAU LTD MO 1128 HK 8,528.41 $18,221.90
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 8,026.74 $12,403.24
B4R2R50 JULIUS BAER CH BAER SW 7,853.84 $309,585.89
B5B23W2 SANDS CHINA LTD MO 1928 HK 4,156.71 $18,837.61
B5VJH76 BDO UNIBANK INC PH BDO PM 3,952.45 $10,464.06
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 1,217.09 $12,646.07
B63QM77 NEXON CO LTD JP 3659 JP 3,834.2 $56,870.98
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 4,640.46 $3,971.17
B7T7721 ROYAL BANK OF SCOTLAND GB RBS LN 4,976.4 $13,427.09
B92RW83 LT GROUP INC PH LTG PM 14,297.63 $4,095.14
BB22L96 KION GROUP AG DE KGX GR 172 $9,354.96
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 403.13 $8,695.67
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 802.67 $8,886.42
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 21,500.2 $8,559.94
BD4TZK8 OCI NV NL OCI NA 228.44 $5,172.99
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 1,179.82 $13,517.29
BD9Y9B7 BASIC-FIT NV NL BFIT NA 424.63 $13,804.37
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 21,141.86 $11,042.15
BDZV116 EPIROC AB-A SE EPIA SS 357.44 $3,324.23
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 994.38 $29,175.89
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 2,879.23 $4,029.53
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,404.85 $6,721.96
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 24,008.55 $18,986.49
BJ2KSG2 AKZO NOBEL NL AKZA NA 6,966.78 $586,809.82
BJT1GR5 ALCON INC CH ALC SW 247.97 $14,421.21
BMJ6DW5 INFORMA PLC GB INF LN 2,853.26 $27,964.93
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 30,829.67 $1,285,525.06
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 2,534.34 $11,275.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 30,256.15 $312,627.27
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 18,892.4 $504,521.18
BSQXJ01 THULE GROUP AB/THE SE THULE SS 958.55 $21,809.29
BSS7GP5 AGL ENERGY LTD AU AGL AU 1,883.95 $26,795.34
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 35,116.99 $14,339.87
BYXS699 QIAGEN N.V. NL QIA GR 499.52 $19,019.13
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 8,177.78 $665,138.93
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 4,078.77 $21,467.98
BYZR014 AMUNDI SA FR AMUN FP 135.27 $8,765.76
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 14,338.84 $337,106.14
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 394.17 $13,015.50
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 534.82 $29,628.89
G27358103 DESPEGAR.COM CORP AR DESP 366.4 $4,396.79
G29183103 EATON CORP PLC US ETN 79.73 $5,939.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 23,291.88 $23,961.52
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 464.05 $8,269.30
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 151.22 $5,824.92
G5960L103 MEDTRONIC INC IE MDT 13,890.02 $1,285,938.42
G97822103 PERRIGO CO PLC IE PRGO 5,202.15 $218,594.43
H01301128 ALCON INC CH ALC 2,816.88 $163,886.33
H1467J104 CHUBB LTD CH CB 48.73 $7,118.54
H8817H100 TRANSOCEAN LTD US RIG 33,417.58 $207,188.99
N22717107 CORE LABORATORIES N.V. NL CLB 9,287.19 $442,441.73
N47279109 INTERXION HOLDING NV NL INXN 5,603.49 $413,033.19
N53745100 LYONDELLBASELL INDU-CL A US LYB 73.1 $5,427.73
N72482123 QIAGEN N.V. ADR NL QGEN 13,307.91 $506,765.07
USD US DOLLAR US 547,158.33 $547,158.33

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 45 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

$19.93

Daily $ Change

$0.00

Daily % Change

0.00%

as of 06/24/2019

CUSIP

302027859

Inception Date

05/10/2007

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 15% - 45%.

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 05/31/2019

YTD

11.96%

1 Year

2.79%

3 Year

9.09%

5 Year

5.39%

10 Year

9.91%

Inception
(01/01/2000)

7.01%

US Stock Market Cycle (04/01/2000 - 05/31/2019)

7.16%

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. 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 0.92%
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 05/31/2019

TREASURY NOTES 6.20%
MASTERCARD INC-CLASS A 2.34%
COCA COLA CO/THE 2.16%
MICROSOFT CORP 2.16%
MONDELEZ INTERNATIONAL INC 2.11%
VISA INC - CLASS A SHARES 2.02%
JOHNSON & JOHNSON 1.94%
BERKSHIRE HATHAWAY INC-CL B 1.92%
AMERICAN TOWER REIT INC 1.81%
MEDTRONIC INC 1.73%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 05/31/2019

Stocks
84.93%
Bonds
14.34%
Cash
0.73%

Detailed Asset Class Allocation

As of 05/31/2019

International Equities
25.12%
Small Capitalization
1.34%
Mid Capitalization
4.23%
Large Capitalization
54.24%
Long Term Fixed Income
2.64%
Intermediate Term Fixed Income
8.04%
Short Term Fixed Income
3.66%
Cash
0.73%

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

May Fund Holdings

As of 05/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAM8 ADT CORP 5.25000 03/15/2020 US 8,958.42 $9,048.00
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 82,417.43 $85,889.11
00287Y109 ABBVIE INC US ABBV 191.35 $14,678.59
004239109 ACADIA REALTY TRUST US AKR 142.44 $3,895.70
00507V109 ACTIVISION INC US ATVI 11,715.82 $508,114.96
00751Y106 ADVANCE AUTO PARTS INC US AAP 3,767.01 $583,887.16
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 82,417.43 $85,031.05
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 2,846.09 $20,075.85
008492100 AGREE REALTY CORP US ADC 87.79 $5,877.71
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 86,896.64 $88,302.27
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 33.15 $4,852.93
01609W102 ALIBABA GROUP - ADR CN BABA 154.98 $23,132.40
020002101 ALLSTATE CORPORATION US ALL 45.69 $4,363.65
02079K107 ALPHABET INC-CL C US GOOG 842.99 $930,345.68
02079K305 ALPHABET INC-CL A US GOOGL 839.4 $928,800.06
02209S103 ALTRIA GROUP INC US MO 8,393.14 $411,767.45
023135106 AMAZON.COM INC US AMZN 486.44 $863,468.58
02319V103 AMBEV SA-ADR BR ABEV 153,729.11 $687,169.10
0237400 DIAGEO PLC GB DGE LN 14,844.1 $624,367.60
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 9,854.26 $9,891.21
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 139.75 $6,473.28
0263494 BAE SYSTEMS PLC GB BA/ LN 4,316.16 $24,674.89
02665T306 AMERICAN HOMES 4 RENT- A US AMH 897.63 $21,911.23
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 15,229.31 $14,772.43
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 12,541.78 $12,664.22
03027X100 AMERICAN TOWER REIT INC US AMT 6,451.85 $1,346,952.98
03064D108 AMERICOLD REALTY TRUST US COLD 133.48 $4,177.94
031162100 AMGEN INC US AMGN 84.75 $14,127.26
03748R754 APARTMENT INVT & MGMT CO -A US AIV 259.79 $12,976.71
03784Y200 APPLE HOSPITALITY REIT INC US APLE 247.25 $3,817.58
038222105 APPLIED MATERIALS INC US AMAT 127.93 $4,949.46
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 89.58 $3,432.87
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 1,791.68 $1,720.02
0405207 HALMA PLC GB HLMA LN 630.67 $14,450.88
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 3,583.37 $3,350.45
0490656 KERRY GROUP PLC-A IE KYGA LN 256.21 $29,481.42
05278C107 AUTOHOME INC-ADR CN ATHM 235.61 $20,238.58
053332102 AUTOZONE INC US AZO 1,180.72 $1,212,728.53
053484101 AVALONBAY COMMUNITIES INC US AVB 159.46 $32,371.94
054937107 BB&T CORP US BBT 95.86 $4,481.22
05722G100 BAKER HUGHES A GE CO US BHGE 156.41 $3,348.82
060505104 BANK OF AMERICA CORP US BAC 627.09 $16,680.57
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 123,626.14 $127,605.44
0673123 ASSOCIATED BRITISH FOODS PLC GB ABF LN 869.86 $27,112.62
0682538 PERSIMMON PLC GB PSN LN 810.74 $20,167.34
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 7,213.32 $1,424,052.96
086516101 BEST BUY INC US BBY 61.99 $3,885.05
0870612 LLOYDS BANKING GROUP PLC GB LLOY LN 34,119.92 $24,662.08
0878230 TAYLOR WIMPEY PLC GB TW/ LN 9,621.34 $20,102.33
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 8,620.68 $708,965.03
0922320 SMITH & NEPHEW PLC GB SN/ LN 1,414.53 $29,717.73
09247X101 BLACKROCK INC US BLK 2,305.9 $958,238.26
0946580 WEIR GROUP PLC/THE GB WEIR LN 1,909.93 $35,316.59
097023105 BOEING CO US BA 58.41 $19,953.05
09857L108 BOOKING HOLDINGS INC US BKNG 729.22 $1,207,740.57
101121101 BOSTON PROPERTIES INC US BXP 175.59 $22,971.78
101137107 BOSTON SCIENTIFIC CORP US BSX 13,655.31 $524,500.59
105368203 BRANDYWINE REALTY TRUST US BDN 1,143.09 $17,272.15
110122108 BRISTOL MYERS SQUIBB CO US BMY 211.06 $9,575.80
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 355.65 $12,330.35
11134LAB5 BROADCOM CRP / CAYMN FI 2.37500 01/15/2020 US 116,459.41 $116,142.40
11135F101 BROADCOM INC US AVGO 47.12 $11,857.60
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,854.26 $8,844.20
12503M108 CBOE GLOBAL MARKETS INC US CBOE 6,640.87 $720,800.44
125269100 CF INDUSTRIES HOLDINGS INC US CF 7,608.38 $306,161.32
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 41.75 $3,324.25
12572Q105 CME GROUP INC US CME 3,777.76 $725,784.03
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 80,625.74 $80,524.96
126650100 CVS HEALTH CORP US CVS 174.15 $9,120.32
133131102 CAMDEN PROPERTY TRUST US CPT 42.1 $4,351.93
13321L108 CAMECO CORP CA CCJ 1,628.1 $16,427.55
149123101 CATERPILLAR INC US CAT 72.2 $8,650.86
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 13,437.62 $13,101.68
156504AJ1 CENTURY COMMUNITIES 6.75000 06/01/2027 US 8,958.42 $8,821.35
165240102 CHESAPEAKE LODGING TRUST US CHSP 204.25 $5,876.33
166764100 CHEVRON CORP US CVX 147.99 $16,849.01
17275R102 CISCO SYSTEMS INC US CSCO 437.17 $22,745.99
172967424 CITIGROUP INC US C 183.29 $11,391.42
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 41,208.71 $63,668.67
191216100 COCA COLA CO/THE US KO 32,723.3 $1,607,695.83
192422103 COGNEX CORP US CGNX 6,146.37 $249,542.59
194162103 COLGATE-PALMOLIVE CO US CL 7,727.53 $537,990.61
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 496.3 $30,458.55
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 308.17 $12,058.67
205887102 CONAGRA BRAND INC. US CAG 101.77 $2,724.32
21036PAM0 CONSTELLATION BRANDS INC 3.87500 11/15/2019 US 37,625.35 $37,805.02
222795106 COUSINS PROPERTIES INC US CUZ 1,820.35 $16,474.17
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 111,084.36 $112,792.06
22822V101 CROWN CASTLE INTL CORP US CCI 96.75 $12,578.58
228368106 CROWN HOLDINGS INC US CCK 9,195.81 $509,723.97
229663109 CUBESMART US CUBE 181.86 $6,132.18
231021106 CUMMINS INC US CMI 32.25 $4,862.05
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 8,958.42 $9,059.20
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 748.03 $5,445.84
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 6,521.73 $13,600.00
2521800 LOBLAW COMPANIES LTD CA L CN 600.21 $30,801.15
25271C102 DIAMOND OFFSHORE DRILLING US DO 17,157.16 $135,026.84
253868103 DIGITAL REALTY TRUST INC US DLR 117.36 $13,815.06
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 84,209.11 $84,334.72
256677105 DOLLAR GENERAL CORP US DG 7,087.9 $902,147.75
256746108 DOLLAR TREE STORES INC US DLTR 10,159.74 $1,032,127.95
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 9,854.26 $10,075.98
25960P109 DOUGLAS EMMETT INC US DEI 202.46 $8,157.12
260557103 DOW INC US DOW 100.69 $4,708.39
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 22,396.04 $22,704.43
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 23,291.88 $22,025.97
269246401 ETRADE FINANCIAL CORP US ETFC 5,019.4 $224,869.14
2715777 QUEBECOR INC -CL B CA QBR/B CN 21,804.78 $514,629.05
277432100 EASTMAN CHEM CO US EMN 39.42 $2,558.95
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 24,847.06 $504,625.53
285512109 ELECTRONIC ARTS US EA 11,823.32 $1,100,514.39
2866857 LUNDIN MINING CORP CA LUN CN 36,214.4 $161,834.09
291011104 EMERSON ELEC CO US EMR 109.47 $6,594.58
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 51,958.81 $58,473.63
29444U700 EQUINIX INC US EQIX 1,584.74 $769,852.69
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 91.38 $11,116.79
29476L107 EQUITY RESIDENTIAL US EQR 361.02 $27,643.62
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 435.92 $9,267.59
297178105 ESSEX PROPERTY TRUST INC US ESS 65.4 $19,078.76
30225T102 EXTRA SPACE STORAGE INC US EXR 64.5 $6,911.88
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 17,916.83 $18,096.00
30303M102 FACEBOOK INC -A US FB 2,597.04 $460,897.54
311900104 FASTENAL CO US FAST 125.42 $3,836.53
3134865 BARCLAYS PLC GB BARC LN 7,082.52 $13,347.63
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 32.25 $4,216.08
31428X106 FEDEX CORPORATION US FDX 4,141.48 $638,946.87
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 8,062.57 $8,171.42
316773100 FIFTH THIRD BANCORP US FITB 147.1 $3,898.08
32054K103 FIRST INDUSTRIAL REALTY TR US FR 212.31 $7,369.43
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 3,583.37 $3,565.45
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 19,708.52 $20,004.14
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 14,333.47 $14,405.13
35671D857 FREEPORT-MCMORAN INC US FCX 25,234.07 $245,022.78
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 75,250.69 $75,503.56
364760108 GAP INC US GPS 113.41 $2,118.57
369550108 GENERAL DYNAMICS CORP US GD 33.5 $5,388.19
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 60,917.23 $56,683.48
370334104 GENERAL MLS INC US GIS 120.04 $5,934.91
37045VAR1 GENERAL MOTORS CO FLT 3.50063 09/10/2021 US 60,917.23 $60,856.63
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 11,645.94 $10,947.18
372460105 GENUINE PARTS CO US GPC 38.88 $3,845.19
374297109 GETTY REALTY CORP US GTY 246.36 $7,627.20
375558103 GILEAD SCIENCES INC US GILD 188.13 $11,710.89
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 22,754.38 $23,095.69
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 37,625.35 $38,967.51
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 93.17 $9,119.24
40060QAA3 GTCR AP FINANCE INC 8.00000 05/15/2027 US 1,791.68 $1,755.85
4012250 AIRBUS SE FR AIR FP 203.36 $26,036.46
4031879 VEOLIA ENVIRONMENT FR VIE FP 189.92 $4,395.72
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 3,583.37 $3,117.53
40414L109 HCP INC US HCP 443.44 $14,061.53
4057808 L'OREAL FR OR FP 86 $23,072.43
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 87.79 $33,128.15
406216101 HALLIBURTON CO US HAL 22,926.38 $488,102.59
4162791 THALES SA FR HO FP 22.4 $2,465.41
4163437 CAPGEMINI FR CAP FP 51.06 $5,708.56
416515104 HARTFORD FINL SVCS US HIG 59.3 $3,122.99
421946104 HEALTHCARE REALTY TRUST INC US HR 378.05 $12,188.18
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 601.11 $17,305.95
427866108 HERSHEY CO/THE US HSY 41.21 $5,437.90
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 100.33 $8,973.90
437076102 HOME DEPOT INC US HD 116.46 $22,109.82
438516106 HONEYWELL INTERNATIONAL INC US HON 86.9 $14,277.99
44107P104 HOST MARRIOTT CORP US HST 455.98 $8,257.86
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 19,708.52 $19,615.49
4457624 TRIGANO SA FR TRI FP 55.54 $4,189.62
452308109 ILLINOIS TOOL WKS INC US ITW 48.38 $6,755.15
45337C102 INCYTE CORP US INCY 4,788.27 $376,501.93
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 745.34 $8,183.84
458140100 INTEL CORP US INTC 493.79 $21,746.42
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 8,210.39 $674,976.02
4588364 MICHELIN (CGDE)-B FR ML FP 60.92 $6,986.15
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 111.98 $14,220.37
460146103 INTERNATIONAL PAPER CO US IP 70.95 $2,942.32
46120E602 INTUITIVE SURGICAL INC US ISRG 1,389.45 $645,885.98
46187W107 INVITATION HOMES INC US INVH 598.78 $15,346.74
46625H100 JP MORGAN CHASE & CO US JPM 245.28 $25,990.02
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 57,333.86 $60,079.76
4682329 PERNOD-RICARD SA FR RI FP 186.34 $32,852.51
4741844 MERCK KGAA DE MRK GR 3,386.28 $326,786.37
476405105 JERNIGAN CAPITAL INC US JCAP 521.38 $11,011.54
478160104 JOHNSON & JOHNSON US JNJ 11,002.37 $1,442,960.59
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 22,396.04 $13,157.67
4821100 SOLVAY SA BE SOLB BB 309.07 $29,047.11
4824778 SGS SA-REG CH SGSN SW 5.38 $13,557.14
482480100 KLA-TENCOR CORPORATION US KLAC 37.8 $3,896.51
4834108 SCHNEIDER ELECTRIC SE FR SU FP 178.27 $14,080.02
4834777 VIVENDI FR VIV FP 334.15 $8,997.48
487836108 KELLOGG CO US K 67.9 $3,569.08
493267108 KEYCORP US KEY 200.67 $3,204.68
494368103 KIMBERLY CLARK CORP US KMB 59.3 $7,584.48
49446R109 KIMCO REALTY CORP US KIM 379.84 $6,609.16
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 62,708.91 $77,220.57
500255104 KOHLS CORP US KSS 52.85 $2,606.79
50050N103 KONTOOR BRANDS INC US KTB 10.39 $304.48
501044101 KROGER CO US KR 126.31 $2,881.21
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 24,187.72 $24,369.13
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 8,958.42 $9,003.21
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 9,854.26 $10,162.20
5107401 BEIERSDORF AG DE BEI GR 6,573.69 $756,439.52
512807108 LAM RESEARCH CORP US LRCX 21.86 $3,816.72
5176177 ORANGE FR ORA FP 656.65 $10,161.73
5253973 HERMES INTERNATIONAL FR RMS FP 10.75 $7,143.06
5263574 FLSMIDTH & CO A/S DK FLS DC 75.25 $2,956.53
529043101 LEXINGTON REALTY TRUST US LXP 751.61 $6,892.27
531172104 LIBERTY PROPERTY TRUST US LPT 334.15 $15,862.05
5330047 DASSAULT SYSTEMES SA FR DSY FP 49.27 $7,310.67
53815P108 LIVERAMP HOLDINGS INC US RAMP 11,863.81 $609,562.53
539830109 LOCKHEED MARTIN CORP US LMT 36.19 $12,252.44
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 8,958.42 $8,712.06
5474008 BANKINTER S.A. ES BKT SM 2,722.46 $19,642.37
5476929 BARRY CALLEBAUT AG-REG CH BARN SW 7.17 $14,071.01
550021109 LULULEMON - ADR CA LULU 5,031.4 $833,150.32
5505072 KERING FR KER FP 26.88 $13,988.57
5533976 SWISSCOM AG-REG CH SCMN SW 62.71 $29,994.24
5545670 JUNGHEINRICH AG DE JUN3 GR 294.73 $8,317.15
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 18,812.67 $18,060.17
5608915 ALTEN SA FR ATE FP 84.21 $8,541.24
563571AL2 MANITOWOC COMPANY INC 9.00000 04/01/2026 US 3,583.37 $3,484.82
56585A102 MARATHON PETROLEUM CORP US MPC 124.7 $5,735.01
5669354 REPSOL SA ES REP SM 1,651.75 $26,595.38
5671735 SANOFI-AVENTIS FR SAN FP 372.67 $30,096.01
5727973 SIEMENS AG-REG DE SIE GR 89.58 $10,152.06
57636Q104 MASTERCARD INC-CLASS A US MA 6,907.83 $1,737,251.32
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 58.77 $3,090.57
585464100 MELCO CROWN ENTERTAINME-ADR HK MLCO 682.63 $13,174.78
58933Y105 MERCK & CO INC US MRK 3,980.76 $315,316.14
594918104 MICROSOFT CORP US MSFT 12,967.31 $1,603,796.55
59522J103 MID-AMERICA APARTMENT COMM US MAA 116.46 $13,297.34
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW 2.15 $14,094.46
5980613 GIVAUDAN - REG CH GIVN SW 5.38 $14,211.24
5986622 KONINKLIJKE PHILIPS NV NL PHIA NA 701.44 $27,798.19
6055112 AYALA LAND INC PH ALI PM 13,598.88 $12,936.38
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 3,556.49 $5,514.23
60871R209 MOLSON COORS BREWING CO -B US TAP 47.48 $2,610.43
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 30,831.11 $1,567,761.71
6108179 HARMONIC DRIVE SYSTEMS INC JP 6324 JP 250.84 $8,196.56
615369105 MOODY'S CORPORATION US MCO 2,700.07 $493,788.18
61744YAG3 MORGAN STANLEY FLT 3.77988 05/08/2024 US 120,042.77 $121,340.80
6194037 KAKAO CORP KR 035720 KS 266.96 $27,881.13
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 1,791.68 $1,655.07
6211732 DAEWOO SHIPBUILDING& MARINE KR 042660 KS 297.42 $7,442.99
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 18,812.67 $18,765.64
6250025 DAIFUKU CO LTD JP 6383 JP 179.17 $8,912.65
6272483 DMCI HOLDINGS INC PH DMC PM 18,741.01 $3,801.30
6284864 GLOBE TELECOM INC PH GLO PM 153.19 $6,372.96
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 17,020.99 $16,723.12
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 26,516.91 $17,618.48
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 10,750.1 $9,429.99
6356934 FANUC LTD JP 6954 JP 125.42 $21,149.87
637417106 NATIONAL RETAIL PROPERTIES US NNN 150.5 $8,056.34
637870106 NATIONAL STORAGE AFFILIATES US NSA 156.77 $4,670.25
63902MAE8 NATURAL RESRCE PART LP 9.12500 06/30/2025 US 1,791.68 $1,823.04
64110D104 NETAPP INC US NTAP 43.72 $2,588.05
6441506 HOYA CORP JP 7741 JP 412.09 $28,524.21
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 277.71 $27,371.08
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 568.86 $22,925.15
6465874 GALAXY ENTERTAINMENT GROUP L HK 27 HK 3,045.86 $18,442.19
6474494 JOLLIBEE FOODS CORP PH JFC PM 1,184.3 $6,547.13
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 251.73 $21,560.80
6490995 KEYENCE CORP JP 6861 JP 615.44 $345,788.63
6499550 KYOWA KIRIN CO LTD JP 4151 JP 16,626.82 $312,961.94
6514442 METROPOLITAN BANK & TRUST PH MBT PM 4,679.88 $6,426.32
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 7,883.41 $12,916.46
654106103 NIKE INC CLASS B US NKE 13,137.52 $1,013,428.07
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 21,500.2 $16,716.40
6687571 NABTESCO CORP JP 6268 JP 322.5 $8,032.17
66987V109 NOVARTIS AG- REG CH NVS 7,775.91 $665,928.51
670346105 NUCOR CORP US NUE 77.4 $3,715.23
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,854.26 $10,199.16
6742340 SHANDONG WEIGAO CN 1066 HK 14,333.47 $12,469.86
674599105 OCCIDENTAL PETROLEUM CORP US OXY 103.38 $5,145.23
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 1,001.55 $6,602.43
680665205 OLIN CORP US OLN 13,947.36 $273,507.69
6818843 SM PRIME HOLDINGS INC PH SMPH PM 18,932.72 $14,475.89
6821120 SONIC HEALTHCARE LTD AU SHL AU 1,588.33 $28,751.06
6895200 TOHO CO LTD JP 9602 JP 680.84 $29,179.77
6919519 UNIVERSAL ROBINA CORP PH URC PM 2,479.69 $7,943.14
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 576.03 $14,097.58
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 13,437.62 $13,587.72
7021963 DEUTSCHE BOERSE AG DE DB1 GR 2,683.05 $369,267.00
7088429 AXA SA FR CS FP 652.17 $16,056.87
7103065 NOVARTIS AG-REG CH NOVN SW 375.36 $32,257.47
7103526 PEUGEOT SA FR UG FP 189.02 $4,219.02
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 165.73 $43,529.52
7110902 TECAN GROUP AG-REG CH TECN SW 29.56 $7,067.02
7123870 NESTLE SA-REGISTERED CH NESN SW 8,193.37 $812,771.78
7133608 EQUINOR ASA NO EQNR NO 1,293.6 $24,710.08
713448108 PEPSICO INC US PEP 8,900.19 $1,139,223.85
7145056 ENI SPA IT ENI IM 1,625.95 $24,491.09
7156036 SONOVA HOLDING AG-REG CH SOON SW 146.02 $32,514.21
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96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 64,500.6 $65,272.53
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B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 1,881.27 $20,874.94
B02L3W3 BERKELEY GROUP HOLDINGS GB BKG LN 453.3 $20,038.44
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B058TZ6 SAFRAN SA FR SAF FP 110.19 $14,457.35
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B1Y9TB3 DANONE FR BN FP 804.11 $64,231.86
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B1YXBJ7 AIR LIQUIDE FR AI FP 139.75 $17,376.76
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 8,492.58 $5,942.74
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B63QM77 NEXON CO LTD JP 3659 JP 3,834.2 $56,870.98
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 4,640.46 $3,971.17
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BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 21,500.2 $8,559.94
BD4TZK8 OCI NV NL OCI NA 228.44 $5,172.99
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 1,179.82 $13,517.29
BD9Y9B7 BASIC-FIT NV NL BFIT NA 424.63 $13,804.37
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 21,141.86 $11,042.15
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BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 994.38 $29,175.89
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 2,879.23 $4,029.53
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,404.85 $6,721.96
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 24,008.55 $18,986.49
BJ2KSG2 AKZO NOBEL NL AKZA NA 6,966.78 $586,809.82
BJT1GR5 ALCON INC CH ALC SW 247.97 $14,421.21
BMJ6DW5 INFORMA PLC GB INF LN 2,853.26 $27,964.93
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 30,829.67 $1,285,525.06
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 2,534.34 $11,275.21
BNGN9Z1 FINECOBANK SPA IT FBK IM 30,256.15 $312,627.27
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 18,892.4 $504,521.18
BSQXJ01 THULE GROUP AB/THE SE THULE SS 958.55 $21,809.29
BSS7GP5 AGL ENERGY LTD AU AGL AU 1,883.95 $26,795.34
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 35,116.99 $14,339.87
BYXS699 QIAGEN N.V. NL QIA GR 499.52 $19,019.13
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 8,177.78 $665,138.93
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 4,078.77 $21,467.98
BYZR014 AMUNDI SA FR AMUN FP 135.27 $8,765.76
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 14,338.84 $337,106.14
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 394.17 $13,015.50
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 534.82 $29,628.89
G27358103 DESPEGAR.COM CORP AR DESP 366.4 $4,396.79
G29183103 EATON CORP PLC US ETN 79.73 $5,939.08
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 23,291.88 $23,961.52
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 464.05 $8,269.30
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 151.22 $5,824.92
G5960L103 MEDTRONIC INC IE MDT 13,890.02 $1,285,938.42
G97822103 PERRIGO CO PLC IE PRGO 5,202.15 $218,594.43
H01301128 ALCON INC CH ALC 2,816.88 $163,886.33
H1467J104 CHUBB LTD CH CB 48.73 $7,118.54
H8817H100 TRANSOCEAN LTD US RIG 33,417.58 $207,188.99
N22717107 CORE LABORATORIES N.V. NL CLB 9,287.19 $442,441.73
N47279109 INTERXION HOLDING NV NL INXN 5,603.49 $413,033.19
N53745100 LYONDELLBASELL INDU-CL A US LYB 73.1 $5,427.73
N72482123 QIAGEN N.V. ADR NL QGEN 13,307.91 $506,765.07
USD US DOLLAR US 547,158.33 $547,158.33

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 45 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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